GROSS NATIONAL PRODUCT, NATIONAL[Millions of dollars]

Line

1

2

345

6

89

10

11

1213

14

1516

17

18

192021

22

TABLE 1.— GROSS NATIONALPRODUCT (1-1,1-3)

Gross national product

Persona! consumption expenditures _

Durable goodsNondurable goodsServices

Gross private domestic investment,

New construction

Residential nonfarmOther _ _

Producers' durable equipment

Change in business inventories

N OP far inFarm

Net exports of goods and services

Exports.. ._„ ._ _. __ _Imports

Government purchases of goods and services-

Federal ,

National defenseOther..Less; Government sales

State and local __

1947

234,289

1(55, 408

20 59393, 38251,434

31,459

15, 254

7 5357,719

10, 667

-462

1 298— 1 760

9, 039

17, 9008,861

28, 382

15, 650

1 1, 3605, 4171,127

12, 732

1948

259, 426

178, 313

2? 72398, 73756, 853

43, 087

19, 454

10, 1°29, 332

18, 925

4, 708

2, 9761 73?

3,490

14, 50511,015

34, 536

19, 306

11,5788, 231

503

15,230

1949

258, 054

181, 158

24, 58496, 60759, 967

32 977

18, 813

9.6429, 171

17, 236

-3,072

-2, 209-863

3, 760

13, 95810, 198

40, 159

22, 241

13, 5708, 853

182

17, 918

II

1950

284, 599

195, 013

30. 35199, 80164, 861

49, 970

24, 215

14, 10010,115

18, 940

6, 815

6,000815

587

13, 09812, 511

39, 029

1.9, 348

14,2575, 202

111

19, 681

1951

328, 975

209, 805

29, 471110, 13570, 199

56, 334

24,811

12, 52912, 2S2

21, 290

10, 233

9, 0571, 176

2,376

17, 85715, 481

60, 460

38, 768

33, 8645,213

309

21. 092

1952

346, 999

219, 774

29, 099115, 10075, 575

49, 863

25, 532

12, 84212, 690

21, 264

3, 067

2, 146921

1,318

17, 43116,113

76,044

52, 854

46, 4086,717

271

23, 190

1953

365, 385

232, 649

32, 875117,96181, 813

50,340

27, 588

13, 77713,811

22, 305

447

1, 068-621

-434

16, 60017, 034

82, 830

57, 904

49. 2898,989

314

24, 866

1954

363, 112

238, 025

32. 398119,32886, 299

48, 872

29, 722

15. 37914, 343

20, 789

-1,839

-2, 129490

961

17, 47616, 515

75, 254

47, 548

41,1896,674

315

27, 706

1955

397, 469

256, 940

39, 632124. 76292, 546

63,843

34, 941

18, 70516, 236

23,119

5,783

o, 486297

1,094

19, 38118, 287

75, 592

45, 282

39, 0816,559

358

30, 310'

1956

419, 180

269,917

38. 545131, 42299, 950

67, 366

35, 512

17, 67717, 835

27, 194

4, 660

5,075-415

2, 930

23, 13520, 205

78, 967

45, 730

40, 3555,706

331

33, 237

1957

442, 769

285, 164

40, 355137, 728107, 081

66, 125

36, 065

17,01919, 046

28, 497

1,563

801762

4, 944

26. 20921, 265

86, 536

49, 711

44, 4065,727

422

36, 825

1958

444, 546

293, 198

37, 286141,617114, 295

56, 641

35, 483

18, 04717, 436

23, 109

-1,951

-2, 864913

19249

22, 70321, 454

93, 458

52, 620

44, 8378,281

498

40, 838

1959

482, 704

313, 538

43, 598147, 111122, 829

72, 726

40, 232

22, 33117, 901

25, 936

6,558

6,46692

-759

22, 87723, 636

97, 199

53, 644

46, 2447, 879

479

43, 555

I960 1961 1902

502, 601

328, 232

44, 905151,818131,509

71,757

40, 708

21. 05219, 656

27, 561

3,488

3,159329

2,996

26, 32723, 331

99,616

53, 131

45, 6878,024

580

46, 485

518, 173

336, 828

43, 645155. 144138, 039

68, 986

41, 583

21.03820. 545

25, 517

1, 886

1. 545341

4, 450

27. 50923, 059

107, 909

57, 358

49, 0038,944

589

50, 551

554, 894

355, 360

48, 236161,406145, 718

78, 787

44, 409

23. 22021, 189

28, 830

5, 548

4, 854694

3,770

28, 88625, 116

116,977

62, 416

53, 2989,962

844

54, 561

TABLE 2.— NATIONAL INCOME (1-8, 1-9)

1

2

3456

78

910

1112

1314

15161718

19202122232425

National income

Compensation of emplovees

Wages and salariesPrivateMilitaryGovernment civilian..

Supplements to wages and salariesEmployer contributions for social

insurance.Other labor income

Employer contributions to pri-vate pension and welfarefunds.

Other

Proprietors" Income

Business and professionalIncome of unincorporated enter-

prises.Inventory valuation adjustment

Farm

Rental income of persons

Corporate profits and inventory valuationadjustment.

Profits before taxProfits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuation adjustment

Net interest

198, 177

128, 757

122, 858105, 512

4, 06713, 279

5,8993,565

2, 3341, 555

77935, 492

19. 94821, 419

-1,47115,544

6,51023, 626

29, 52511,28318, 2426,521

11, 721-5. 899

3, 792

223,487

140, 969

135,214116,443

3, 97014, 801

5, 7553, 042

2,7131, 810

90340, 19422, 40522, 815

-41017,789

7,297

30, 848

33, 00012, 48320, 517

7, 24313, 274

-2, 1524,179

217, 690

140, 834

134,310113, 809

4, 24816, 253

6, 5243,503

3,0212, 024

99735, 58322, 65722, 194

46312, 9268, 274

28,226

26, 37010, 37515, 9957, 4738,522

1, 8564,773

241, 876

154, 190

146, 391124, 1 21

4, 99917, 271

7,7993, 976

3, 8232,743

1,08037, 541

23, 54124, 635

-1,09414, 0009, 013

35, 663

40, 62817, 86522, 7639,208

13, 555-4, 965

5,469

279, 313

180, 327

170,788141, 928

8, 68420, 176

9, 5394,753

4, 7863, 582

1, 20442, 329

25, 99526, 322

-32716, 3349, 431

40, 954

42, 15322, 44719, 7069,029

10, 677-1,199

6,272

292, 155

195, 012

184,835151,870

10,47222, 493

10, 1774, 861

5, 3164,019

1,29742, 233

20. 89626, 695

20115, 33710, 15437, 672

36, 69119, 45917, 2328,9548,278

9817, 084

305, 573

208,812

198, 030164, 15710,33723, 536

10, 7824,788

5,9944, 598

1, 39640, 72327, 44527, 613

-16813, 27810, 52837,314

38,31120, 22218, 0899,2258,864

-9978,196

391, 794

207,595

196,259161. 867

9,95124, 441

11,3365,122

6,2144, 739

1, 47540,442

27, 75127, 800

-4912, 69110, 86933, 743

34, 06117, 22016, 8419,8397,002

-3189,145

330, 206

223,852

210, 902174, 927

9. 77826, 197

12, 9505, 814

7, 1365, 523

1,61342, 149

30, 38230, 580

-19811,767

10, 69843, 126

44, 86221, 82723, 03511,21511,820

-1,736

10, 381

350, 836

242, 502

227, 634189, 593

9,66328, 378

14. 8686,766

8,1026, 273

1, 82943, 71532. 09832, 600

-50211,617

10,913

41, 990

44, 68321, 22723, 45612, 13211, 324

-2, 69311,716

366, 943

255, 499

238. 548198, 379

9, 64430, 525

16, 9517,811

9,1407, 163

1, 97744, 457

32, 67732, 977

-30011, 78011,891

41, 669

43, 20820, 92222, 28612, 5889,698

— 1,53913, 427

367, 384

257, 142

239, 803196, 556

9, 76733, 480

17, 3397, 982

9, 3577, 267

2,090

46, 05232, 50432, 560

-5613, 54812, 208

37, 155

37, 41018, 64618, 76412, 3586,406

-25514, 827

400, 481

278, 528

258, 459213, 146

9,87335, 440

20, 0699,671

10, 3988, 164

2,234

46, 47535, 10435, 244

-14011,371

11,902

47, 192

47, 65723, 18824, 46913, 68210, 787-465

16, 384

414, 497

293, 648

271, 308222, 942

9,89438, 472

22, 34011,346

10, 9948,629

2, 36546,236

34, 20234, 221

-1912, 03412, 110

44, 453

44, 26122, 25222, 00914, 5237,486

19218, 050

426, 062

302, 086

278 8^1226, 991

10, 18541, 645

23, 26511,894

11,3718,946

2, 42548, 10635, 29335, 260

3312, 81312, 075

43, 768

43, 78422, 01421, 77015, 2666,504

-1620, 027

453, 695

322, 878

297, 133241,573

10, 82344, 737

25, 74513, 685

12, 0609,473

2, 58749,808

36,51136, 494

1713, 29711,976

146,997

46, 81422, 16924, 64516, 5638,082

18322, 036

TABLE 3.—RELATION OF GNP NA-TIONAL INCOME AND PERSONALINCOME (1-17, 1-18)

128

4

fiR

7

8

9

1011

12

1314TS1fi

Gross national product

Less: Capital consumption allowances

Equals: Net national product

Less: Indirect business tax and nontax lia-bility.

Business transfer paymentsStatistical discrepancy

Plus: Subsidies minus current surplus ofgovernment enterprises.

Equals: National income

LevSs: Corporate profits and inventory valua-tion adjustment.

Contributions for social insuranceExcess of wage accruals over disburse-

ments.

Plus: Government transfer payments to per-sons.

Net interest paid by governmentDividendsBusiness transfer payments . __

Equals: Personal income

234,289

13, 030221, 259

18, 641

6743 541

-226

198, 177

23, 626

5.68315

11, 113

4,4206 521

674191, 581

259,426

15, 471243, 955

20, 405

739— 847

-171

223, 487

30, 848

5,22035

10, 542

4,5277 243

739210, 435

258,054

17, 274

240, 780

21, 637

781510

-162

217, 690

28, 226

5, 737-46

11, 622

4,6707,473

781208, 319

284, 599

19, 065

265, 534

23, 747

843— 734

198

241,876

35, 663

6,87024

14, 304

4,7949,208

843228, 468

328, 975

21, 970

307, 005

25, 647

9851 247

187

279, 313

40, 954

8,17074

11, 590

4,9739,029

985256, 692

346, 999

24, 007

322, 992

28, 140

1, 1691 374

-154

292, 155

37, 672

8,614-22

12, 041

5,0168,9541, 169

273, 071

365, 385

26, 526

338, 859

30, 203

1, 3691 283

-431

305, 573

37, 314

8,728-76

12,887

5,1719,2251,369

288, 259

363, 112

28, 809

334, 303

30, 151

1, 262853

-243

301, 794

33, 743

9,6950

14, 961

6,4079,8391,262

289, 825

397,469

31, 986

365, 483

32, 865

1, 457988

33

330, 206

43, 126

10, 9950

16, 050

5,38911,2151,457

310, 196

419, 180

34, 412

384, 768

35, 692

1,616—2, 428

948

350, 836

41, 990

12, 5860

17, 190

5,74512, 1321,616

332, 943

442, 769

37, 443

405, 326

38, 186

1,790— 601

992

366, 943

41, 669

14, 5220

20, 089

6,20412, 5881,790

351, 423

444,546

38, 605

405, 941

39, 322

1,831— 1 461

1,135

367, 384

37, 155

14, 8350

24, 501

6,17512, 3581,831

360, 259

482, 704

40, 962

441, 742

42, 601

2,052—2 962

430

400, 481

47, 192

17, 5740

25, 412

7,07513, 6822,052

383, 936

502, 601

42, 993

459, 608

46, 421

2,231—3 021

520

414, 497

44, 453

20, 5710

27, 287

7,76114, 5232,231

401, 275

518, 173

44, 343

473 830

49, 097

2 265— 1 903

1,691

426, 062

43, 768

21, 4390

31, 325

7,66615 2662,265

417, 377

554, 894

49, 373

505 521

53, 035

2 303— 1 796

1,716

453, 695

46, 997

23, 9000

32, 468

7,99416 5632,303

442, 126

1. The figures for 1962 reflect the new depreciation guidelines issued by the Treasury Department July 11,1962, and the investment tax credit provided in the Revenue Act of 1962.

12Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INCOME, AND PERSONAL INCOME, 1947-62[Billions of dollars, seasonally adjusted at annual rates"

Line

1

2

345

6

7

89

10

11

1213

14

1516

17

18

192021

22

TABLE 1.— GROSS NATIONALPRODUCT (1-1,1-3)— Con.

Gross national product. _ _

Persona I consumption expend! tures__

Durable goodsNondurable goodsServices _ _

Gross private domestic investment

New construction

Residential nonfarmOther...

Producers' durable equipment

Change in business inventories

NonfarmFarm ,

Net exports of goods and services __

ExportsImports

Government purchases of goods and services-

Federal

National defense. _ _OtherLess' Government sales

State and local

I

472.0

305.7

42 0144.7119.0

69.8

39.0

21.917.1

24.3

6 4

6.2.2

-.8

21 822 6

97.2

53.8

46.08.2

5

43.5

19

II

487. 8

313.0

44 4147.0121.5

79.0

41 1

23.517.6

26.4

11 5

11.5.1

-1.7

22 123 8

97.5

53.9

4f>. 58 0

5

43.6

59

III

482.7

316.7

44 9147.7124.0

68.8

41 0

22 618.4

26.6

1 1

1 1.0

-.5

23 824 3

97.8

54.0

46.48 0

4

43.8

IV

488. 5

318.8

43 1148.9126.8

73.2

39 6

21 318.3

26.4

7 1

7 0.1

.0

23 823 9

96.5

52.8

46. 17.2

5

43.7

I

500.4

324. 2

45 5149 9128.7

77.6

40 9

21 519.3

27.4

9 3

9 1.2

1.5

25 223 7

97.2

52.4

45.47 6

5

44,7

19

II

504.1

329.7

45 7153 0131.0

73 3

40 7

21 219.5

28.4

4 2

3 9.3

2.3

26 324 0

98.9

52.9

45.67 9

5

46.0

80

III

503. 5

328. 7

44 6152 0132. 2

70.9

40 5

21 019.5

27. 7

2 7

2 3.4

3.3

26 723 4

100. 5

53.5

45.98 3

G

47.0

IV

502. 1

330. 3

43 9152.3134.2

65.3

40 7

20 520.2

26.8

—2 3

— 2 7.4

4.9

27 022 1

101. 6

53. 7

45.98.4

6

48.0

[

500. 4

330.7

41 2153 9135.6

59 6

39 3

19 020.3

24.6

—4 3

— 4.6.3

5.4

27 522 1

104.7

55.4

47.58.5

6

49. 3

19

II

512.5

334.9

43 1154 5137.3

66 6

41 0

20 120 8

24.5

1 1

8.3

4.3

26 522 9

106.8

57.1

49.08 7

6

49.7

61

III

521.9

337.9

43 9155 3138.8

72 0

42 6

21 920.7

25.8

3 5

3 2.4

4.1

27 893 7

107. 9

57.1

48.69 1

6

50.8

IV

537. 8

343.8

46 4156 9140.5

77 6

43 2

22 820.4

27.1

7 2

6 9.4

4.0

28 324 2

112.3

59.8

50.99.5

6

52. 5

I

544.5

348.8

47 3158 9142.6

77.3

41 7

21 220.5

27.4

8 1

7.6.5

3.3

27 924 6

115.1

61.8

52.59.9

53. 3

19

II

552.4

352.9

47 5160 6144.8

79 6

44 5

23 321.2

28.7

6 5

5 8,7

4.4

29 525 0

115.5

61.9

52. 99 8

8

53. 6

62

III

556. 8

356.7

47 7162 5146 6

78 9

46 0

24 221.7

29.3

3 6

2.8.8

4.1

29 425 3

117.0

62. 4

53. 59 7

8

54. 6

IV

565 2

362. 9

50 5163 6148.9

78 8

45 0

23 721.2

29.9

4 0

3 2.8

3.3

28 825 5

120.2

63.6

54.310 41 1

56.6

Table 2.—National Income (1-8, 1-9)—Con.

1

2

456

78

910

1112

1314

15161718

192021222324

25

National income

Compensation of employees

Wages and salariesPrivateMilitaryGovernment civilian

Supplements to wages and salariesEmployer contributions for social

insurance-Other labor income

Employer contributions to pri-vate pension and welfarefunds.

OtherProprietors' income _ _ _

Business and professionalIncome of unincorporated enter-

prises.Inventory valuation adjustment

FarmRental income of personsCorporate profits and inventory valuation

adjustment.Profits before tax

Profits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuation adjustmentNet interest

391.7

270.9

251 6206 9

9.934.8

19.49.4

10 0

46.8

34 5

12 411.846.1

46 922.824 113 111 0— 816.0

405.6

279.8

259 7214 6

9.935.3

20.09.7

10 3

47.2

35 5

11 711.9

50.5

51 925 226 613.413 3

—1 316.2

400.6

280.2

259 9214 4

9.935 7

20.39.7

10 6

46.035 4

10 611.946.1

46 522.623 914. 19 8

16.4

403.9

283.0

262 5216.5

9.836.1

20.69.9

10 7

45.935 1

10 811.946.0

45 322.023 314.29 0

7

17.0

413.4

290. 5

268 5221 6

9.837 1

22.011.2

10 8

45.334 6

10 712.147.9

48 524.424 114.49 7

— 617.6

416.6

294.6

272 2224 4

9.838 0

22.311.4

11 0

47.034 6

12 412.145.2

45 422.822 614.48 2

o

17.7

415.4

295.8

273 3224 2

9.939 1

22. 511. 5

11 0

46.133 8

12 212.143.2

42 121 220 914 66 41 2

18.2

412.8

293.9

271 3221 610.039 7

22.511.4

11 1

46.633 8

12 712.1

41.5

41 120 620 414 85 6

18.8

411.1

294.0

271 2220 810.040.4

22.811.6

11.2

47.034 2

12 812.138.8

38 519.419 215.04 2

3

19.1

423.2

300.1

276 9225 810.041 2

23.111.8

11 3

47.6

35 0

12 612.1

43.6

43 4

21 615 16 5

2

19.8

429.0

304.4

281 0228 810.042 2

23.412.0

11 4

48.335 7

12 612.144.0

44 322 322 015.26 8

— 3

20.3

441.0

309.9

286 1232 510.842 8

23.812.2

11 6

49.5

36 3

13 212.048.6

48 924.624 315.88 5

— 3

21.0

444.7

316.0

290 7236 111.143.6

25.213.4

11.8

49.536 0

13.512.0

146.1

45.921.724.216.28 0.1

21.2

452.4

322.5

296 8241 711.044.1

25.713.7

12 0

49.6

36 5

13.112.0

146.5

46 722.124 616.48 2

— . 221.7

455.5

325.3

299 4243 710.745 0

25 913.8

12 2

49.836 6

13 212.0

i 46. 1

46 221.924 316.57 8

— 1

22.3

462.2

327.7

301 5244 710 546 3

26 213.8

12 3

50.336 9

13 4

12.0149.3

48 422.925 517.18 4

923.0

TABLE 3.—RELATION OF GNP NA-TIONAL INCOME AND PERSONALINCOME (1-17, 1-18)—Con.

12

34

6

7

8

9

1011

12

131415

16

Gross national product __Less* Capital consumption allowancesEquals: Net national productLess: Indirect business tax and nontax lia-

bility.Business transfer paymentsStatistical discrepancy

Plus: Subsidies minus current surplus ofgovernment enterprises.

Equals: National incomeLess: Corporate profits and inventory valua-

tion adjustment.Contributions for social insuranceExcess of wage accruals over disburse-

ments.Plus: Government transfer payments to per-

sons.Net interest paid by governmentDividends _ _Business transfer payments

Equals* Personal income

472.039 8

432.241.4

2.0—2 3

.5

391.7

46.1

17.1.0

24.9

6.613.12.0

375.0

487.840.7

447.142.0

2.0—2.2

.2

405.650.5

17.6.0

25.1

6.813.42.0

384.7

482.7

41.3441. 343.1

2.1-3.9

.5

400.646.1

17.7.0

25.2

7.314.12.1

385.5

488.542.1

446.443.9

2.1-3.1

.4

403. 9

46.0

17.8.0

26.4

7.514.22.1

390.2

500.442.6

457.845. 6

2.2-2.9

.5

413. 4

47.9

20.3.0

26.3

7.714.42.2

395. 8

504.1

43.0461.2

46.6

2.2-3.9

.4

416. 6

45.2

20.6.0

26.8

7.814.42 2

402.0

503. 543. 1

460. 446.5

2.2—3.2

.5

415. 4

43.2

20. 8.0

27.5

7.814.62 2

403. 5

502.143.3

458.846.9

2 2— 2.5

. 7

412.8

41.5

20.7.0

28.9

7.814.82.2

404. 3

500. 4

43.5457. 0

47.1

2.3-2.8

411.1

38.8

20.9.0

30. 4

7. 715.02.3

406. 6

512.544. 1

468.448.4

2.3-3.2

2.2

423.2

43.6

21.3.0

31.3

7.615. 12.3

414.5

521. 9

44.5477.349.7

2.3-1.8

1.9

429.0

44.0

21.6.0

31.7

7.615.22.3

420.2

537.8

45.3492.451.2

2.3.0

2.1

441.0

48.6

21.9.0

31.7

7.715.82.3

428.0

544.5

48.5495.952.0

2.3-.9

2.2

444.7

46.1

23.5.0

32.1

7.816.22.3

433. 5

552.449.2

503.352. 7

2.3-2.5

1.7

452.4

46.5

23.9.0

32.1

7.916.42.3

440.7

556.849.7

507.153.3

2.3—2.6

1.4

455.5

46.1

24.0.0

32.3

8.116.52.3

444.5

565. 250. 1

515. 154.1

2.3-1.9

1.6

462. 2

49.3

24.2.0

33.6

8.217.12.3

449.9

13Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

GROSS NATIONAL PRODUCT, NATIONAL INCOME

Line

1

234567

8

91011

12

1314

1516

17

1819

20

212223

24

25

26

27

TABLE 4.— PERSONAL INCOME ANDITS DISPOSITION (II-l, II-2)

Personal income _ _ _ _ _ _ .

Wage and salary disbursementsCommodity-producing industries

Manufacturing onlyDistributive industriesService industries _ ... _ _ _Government

Other labor income

Proprietors' incomeBusiness and professionalFarm

Rental income of persons

DividendsPersonal interest income

Transfer paymentsOld-age and survivors insurance

benefits.State unemployment insurance

benefits.Veterans' benefits __Other

Less: Personal contributions for socialinsurance.

Less: Personal tax and nontax paymentsFederal _ -State and local.

Equals: Disposable personal income

Less: Personal consumption expenditures, .

Equals: Personal saving

Addendum: Disposable personal income inconstant (1954) dollars.

1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962

[Millions of dollars]

191,581

122, 84354, 33642, 50035, 16415, 99717, 346

2,334

35, 49219, 94815, 544

6, 510

6, 5218,212

11, 787463

775

6,7453, 804

2,118

21,46819, 6501,818

170, 113

165, 409

4,704

201,079

210, 435

135, 17960, 25746, 45938, 80217, 34918, 771

2,713

40, 19422, 40517,789

7,297

7. 2438, 706

11,281552

790

5,7694,170

2,178

21, 13518, 9972,138

189, 300

178,313

10, 987

211,508

208,319

134,35656, 91443, 86039,01617,92520, 501

3, 021

35, 58322, 65712,926

8, 274

7,4739,443

1.2,403664

1, 730

5, 1044, 905

2, 234

18, 66516, 1942, 471

189, 654

181,158

8,496

213,815

228, 468

146, 36763, 49549, 39341,31319, 28922, 270

3,823

37, 54123, 54114,000

9,013

9, 20810, 263

15, 147954

1, 367

4,8847, 942

2, 894

20,81318, 1792,634

207, 655

195,013

12, 642

230, 984

256, 692

170,71474, 88558, 27745, 95321,06028,816

4,786

42, 32925, 99516, 334

9, 431

9, 02911,245

12, 5751,872

837

3,8975,969

3,417

29,21126, 278

2, 933

227, 481

209, 805

17, 676

236, 959

273, 071

184, 85780, 54762, 96048, 74922, 62832, 933

5, 316

42, 23326, 89615, 337

10, 154

8, 95412, 100

13,2102, 177

992

3, 8636, 178

3,753

34, 35731, 165

3, 192

238, 714

219, 774

18, 940

243, 586

288, 259

198, 10688, 07769, 88151,79724, 28333, 949

5,994

40, 72327, 44513,278

10, 528

9, 22513,367

14. 2562,979

954

3,7386, 585

3,940

35, 78532, 359

3, 426

252, 474

232, 649

19, 825

255, 024

289, 825

196, 25984, 06266, 07752, 32425, 48134, 392

6, 214

40, 44227, 75112,691

10, 869

9, 83914, 552

16, 2233,633

2,015

3, 8486,727

4,573

32, 94029, 1553,785

256, 885

238, 025

18, 860

256, 885

310, 196

210, 90291, 39072, 25255, 76627, 77135, 975

7,136

42, 14930, 38211,767

10, 698

11,21515,770

17, 5074,915

1,369

4, 2506, 973

5,181

35, 74831,5214,227

274, 448

256, 940

17, 508

273, 355

332, 943

227, 63498, 72477, 70660, 33630, 53338, 041

8,102

43,71532, 09811,617

10,913

12, 13217, 461

18,8065, 652

1,400

4,2277,527

5, 820

40,00135, 1804,821

292, 942

269, 917

23, 025

286, 917

351, 423

238, 548102,21780, 64463, 40332, 75940, 169

9,140

44, 45732, 67711,780

11,891

12, 58819, 631

21,8797,321

1,755

4. 3648,439

6,711

42, 63237, 342

5, 290

308, 791

285, 164

23, 627

293, 807

360, 259

239, 80397, 94076, 70163, 81934, 79743, 247

9,357

46, 05232, 50413, 548

12, 208

12, 35821,002

26, 3328,478

3,944

4, 5599,351

6,853

42, 33536, 6405,695

317, 924

293, 198

24, 726

296, 295

383, 936

258, 459107, 24384, 72068, 18137, 72245, 313

10, 398

46, 47535, 10411,371

11,902

13, 68223, 459

27, 46410, 175

2,514

4, 52310, 252

7,903

46, 79140, 367

6,424

337, 145

313, 538

23, 607

310, 733

401, 275

271,308110,44287,41171,80240, 69848, 366

10, 994

46, 23634, 20212, 034

12,110

14, 52325,811

29, 51811,130

2,782

4,54711.059

9,225

51,38644, 043

7,343

349, 889

328, 232

21, 657

317, 792

417,377

278, 821110, 78087, 46972, 85743, 35451,830

11,371

48, 10635. 29312,813

12,075

15,26627, 693

33, 59012, 614

4,040

4,78412,152

9, 545

52, 94445, 138

7,806

364, 433

336, 828

27, 605

328, 436

442, 126

297, 133118, 50394, 17476, 63446, 43655, 560

12, 060

49, 80836,51113, 297

11,976

16, 56330, 030

34, 77114, 298

2,919

4,78812, 766

10,215

57, 68649. 0298,657

384, 440

355, 360

29, 080

343, 587

TABLE 5.— GROSS NATIONAL PROD-UCT IN CONSTANT DOLLARS (1-2, [Billions of 1954 dollars]1-5)

1

2

345

6

789

1011

1213

14

1516

17

1819

Gross national product

Personal consumption expenditures

Durable goods __Nondurable goodsServices

Gross private domestic investment-.

New constructionResidential nonfarm _Other

Producers' durable equipmentChange in business inventories

Nonfarm.Farm _

Net exports of goods and services

ExportsImports _ _ _ _ _ _ _

Government purchases of goods and services.

FederalState and local

282.3

195. 6

23.3105.367.0

41.5

19.99.6

10.3

21.7-.1

1.4-1.6

8.0

19 211.1

37.2

19.417.8

293.1

199.3

24.6105. 169.6

49.8

22.711.411.2

22.84.4

3.01.4

2.0

14.712.8

42.1

22.919.2

292. 7

204. 3

26.3106. 371.7

38.5

22. 311.211.1

19.8-3.6

-2.6-1.0

2.6

15. 112.4

47.2

21. 9

318.1

216.8

32.1109.275.5

55.9

27.415.511. 9

21.37.2

6.5.7

. 2

14.514.2

45.1

21.623.5

341.8

218.5

29.2111.278.2

57.7

26.012.913.2

22.09.7

9.0.7

2.2

17.315.1

63.3

39. 324.1

353.5

224. 2

28.5115.080.8

50.4

26.012.813. 2

21.82.6

2.2.4

1.2

16.915.7

77.7

53. 324.5

369.0

235. 1

33.1118.383.7

50.6

27.613.614.0

22.5.5

1.1-.7

.9

16.417.3

84.3

58.825.5

363.1

238.0

32.4119.386.3

48.9

29.715.414.3

20.8-1.6

-2.1.5

1.0

17.516.5

75.3

47.527.7

392.7

256.0

39.6125. 491.0

62.5

33.918.215.7

22 5Q.I

5.4.7

.9

19.218.3

73.2

43.529.7

400.9

264.3

38.0130.396.0

61.7

32.316.216.1

25.04.5

4.9

^2.5

22.419.8

72.3

41.730.6

408.6

271.2

38.5132.6100.1

58.1

31.815.316.5

24.61.6

.71.0

3.8

24.420.6

75.5

43.232.2

401.3

273.2

35.5133.3104.4

49.0

31.116.214.8

19.4-1.5

-2.4.8

-.2

21 A21.6

79.3

44.534.8

428.6

288.9

41.0138.7109.2

61.7

34.419.514.9

21.45.9

5.9.0

-2.1

21.924.1

80.1

43.936.2

439.9

298.1

42.2141.4114.5

60.2

34.418.216.2

22.73.1

2.9.3

1.7

24.923.2

79.9

42.337.6

447.7

303.6

41.5143.3118.9

57.5

34.718.216.6

21.01.7

1.6.2

2.3

25.523.3

84.3

44.839.5

474.8

317.6

45.6147. 8124. 3

65.2

36.719.816.8

23.84.8

4.3.5

1.8

27.025.2

9 .2

49.041.2

TABLE 6.—IMPLICIT PRICE DEFLA-TORS FOR GNP (VII-2, VII-3) [Index numbers, 1954=100]

1?,345

6

78q

1011i?,1314

15

1617

Gross national product

Personal consumption expenditures

Durable goodsNondurable goodsServices ,

Gross private domestic investment

New constructionResidential nonfarmOther _

Producers' durable equipment _ _Change in business inventories

Net exports of goods and services

ExportsImports

Government purchases of goods and services-

FederalState and local

83.0

84.6

88.488.776.8

76.678.474.8

76.8

93.479.7

76.4

80.871.5

88.5

89.5

92.494.081.7

85.988.683.1

83.1

98.686.3

82.0

84.479.3

88.2

88.7

93. 590.983.6

84. 385. 982.6

87.0

92.782.0

85.1

88.081.7

89.5

89.9

94.691.485.9

88.390.985.1

89.0

90.387.8

86.5

89.683.7

96.2

96.0

101. 199.089.8

95.397.593.1

96.8

103.3102.8

95.5

98.790.2

98.1

98.0

102.2100. 193. 6

98.4100.396.5

97.5

103.0102.8

97.8

99.294.8

99.0

99.0

99.499.797.7

100 1101.398.9

99.0

101.098.2

98.3

98.697.5

100.0

100.0

100.0100.0100.0

100 0100.0100.0

100. 0

100.0100.0

100.0

100.0100.0

101.2

100.4

100. 199.5

101.7

103 1103.0103.2

102.6

100.799.9

103.3

104. 1102.2

104.6

102.1

101 3100. 9104.1

109 8109.0110.7

109.0

103.4101.8

109.2

109 7108.6

108.4

105.1

104 7103.9107.0

113 5111.2115.7

115.7

107.4103.2

114.6

114 9114.2

110.8

107.3

104 9106.3109.4

114 2111.2117.6

118.9

105.999.2

117.9

118 3117.3

112.6

108.5

106 3106.0112.5

116 8114 3120.1

121.4

104.398 2

121.4

122 2120 3

114.2

110.1

106 3107 4114 8

118 4115 5121 6

121 6

105 5100 5

124.7

125 5123 8

115.7

111.0

105 3108 3116 1

119 7115 9123 8

121 3

107 799 2

127.9

127 9127 9

116.9

111.9

105 9109 2117.3

121 1117 1125 9

121 0

107 199 7

129.7

127 4132 3

14

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

AND PERSONAL INCOME, 1947-62—Continued

Line

1

234567

8

91011

12

1314

1516

17

1819

20

212223

24

25

26

27

TABLE 4.— PERSONAL INCOME ANDITS DISPOSITION, (II-l, II-2)— Con.

Personal income

Wage and salary disbursementsCommodity-producing industries

Manufacturing onlyDistributive industriesService industriesGovernment-.

Other labor income

Proprietors' incomeBusiness and professionalFarm

Rental income of persons

DividendsPersonal interest income

Transfer payments. _ _Old-age and survivors insurance

benefits.State unemployment insurance

benefits.

Other...

Less: Personal contributions for socialinsurance.

Less: Personal tax and nontax paymentsFederalState and local _

Equals: Disposable personal income

Less: Personal consumption expenditures ..

Equals: Personal savings _

Addendum: Disposable personal income inconstant (1954) dollars.

1959

I II III IV

1960

I II III IV

1961

I II III IV

1962

I II III IV

[Billions of dollars, seasonally adjusted at annual rates]

375.0

251.6104.782.566.036.244.7

10.0

46.834.512.4

11.8

13.122.6

26.89.5

2.9

4.69.9

7.8

45.439.26.3

329.6

305.7

23.9

305.8

384.7

259.7109.186.268.137.445.1

10.3

47.235.511.7

11.9

13.423.0

27.110.3

2.2

4.610.1

7.9

46.740.36.4

338.0

313.0

25.1

312.1

385.5

259.9107.385.068.938.245.5

10.6

46.035.410.6

11.9

14.123.7

27.310.4

2.1

4.410.5

8.0

46.840.36.5

338.8

316.7

22.1

311.4

390.2

262.5107.985.269.639.045.9

10.7

45.935.110.8

11.9

14.224.5

28.510.5

2.8

4.510.6

8.0

48.341.76.6

341.9

318.8

23.1

313.1

395.8

268.5111.288.570.839.646.9

10.8

45.334.610.7

12.1

14.425.2

28.610.7

2.4

4.610.9

9.1

51.544.3

344.3

324.2

20.1

314.2

402.0

272.2111.688.472.440.547.8

11.0

47.034.612.4

12.1

14.425.5

29.111.2

2.4

4.511.0

9.2

51.844.5

350.3

329.7

20.6

318.3

403.5

273.3110.687.472.441.349.0

11.0

46.133.812.2

12.1

14.626.0

29.711.3

2.9

4.511.1

9.3

51.344.0

352.2

328.7

23.4

319.9

404.3

271.3108.485.471.841.549.7

11.1

46.633.812.7

12.1

14.826.5

31.111.4

3.8

4.611.3

9.3

50.943.5

353.4

330.3

23.0

319.4

406.6

271.2106.884.071.742.350.4

11.2

47.034.212.8

12.1

15.026.8

32.611.8

3.8

4.712.3

9.3

51.343.7

355.3

330.7

24.5

320.6

414.5

276.9110.387.172.443.151.2

11.3

47.635.012.6

12.1

15.127.4

33.512.5

4.4

4.911.7

9.5

52.544.8

362.0

334.9

27.1

326.6

420.2

281.0111.788.273.443.852.2

11.4

48.335.712.6

12.1

15.227.9

33.912.8

3.9

12.5

9.6

53.045.1

367.2

337.9

29.2

330.8

428.0

286.1114.390.773.944.353.6

11.6

49.536.313.2

12.0

15.828.7

34.013.4

3.7

12.1

9.8

54.947.0

373.1

343.8

29.3

335.5

433.5

290.7115.892.175.145.254.6

11.8

49.536.013.5

12.0

16.229.0

34.413.6

3.3

12.7

10.1

56.247.78.5

377.3

348.8

28.5

338.6

440.7

296.8119.294.876.446.255.1

12.0

49.636.513.1

12.0

16.429.7

- 34.4* 14.3

2.7

12.6

10.2

57.949.38.6

382.7

352.9

29.8

342.6

444.5

299.4119.595.077.347.055.7

12.2

49.836.613.2

12.0

16.530.3

34.614.5

2.7

12.8

10.3

58.149.48.7

386.5

356.7

29.7

345.1

449.9

301.5119.694.877.847.356.8

12.3

50.336.913.4

12.0

17.131.1

35.914.8

3.2

13.0

10.3

58.549.78.8

391.4

362.9

28.5

348.2

TABLE 5.— GROSS NATIONAL PROD-UCT IN CONSTANT DOLLARS (1-2, [Billions of 1954 dollars]1-5)— Con.

1

2

345

6

789

1011

1213

14

1516

17

1819

Gross national product

Personal consumption expenditures

Durable goods _Nondurable goodsServices

Gross private domestic investment

New constructionResidential nonfarmOther

Producers' durable equipmentChange in business inventories

NonfarmFarm.

Net exports of goods and services. _

ExportsImports

Government purchases of goods and services-

Federal --State and local

421.7

283.6

39.6136.8107.2

59.5

33.819.414.4

20.15.6

5.5.0

-2.3

20.923.2

80.9

44.436.5

434.0

289.1

41.6139.1108.4

67.2

35.320.614.7

21.710.2

10.2-.1

-3.1

21.224.4

80.9

44.436.4

427.6

291.0

42.0139.3109.8

58.0

34.919.715.2

21.81.3

1.4-.1

-2.0

22.924.9

80.6

44.336.3

431.1

291.9

40.8139.8111.3

62.0

33.618.515.2

21.86.6

6.6.0

-1.1

22.723.8

78.3

42.435.9

439.9

295.8

42.6140.6112.6

65.3

34.718.716.0

22.58.0

7.8.2

.3

23.923.6

78.5

42.036.5

442.1

299.5

42.7142.7114.2

61.6

34.418.316.1

23.33.9

3.7.3

1.1

25.023.9

79.9

42.637.3

440.2

298.6

42.1141.5115.0

59.4

34.118.116.0

22.82.6

2.2.4

2.0

25.223.2

80.2

42.437.8

437.1

298.6

41.6140.7116.4

54.5

34.317.816.5

22.1-1.9

-2.3.3

3.4

25.622.2

80.6

42.238.4

434.0

298.5

39.3141.9117.3

49.7

33.116.616.5

20.2-3.6

-3.8.2

3.6

25.922.3

82.3

43.139.1

443.4

302.2

40.9142.9118.4

55.6

34.217.416.9

20.21.2

1.0.2

1.9

24.522.5

83.7

44.639.1

450.4

304.5

41.6143.5119.4

59.9

35.518.816.7

21.33.1

2.9.2

1.9

25.823.9

84.2

44.639.5

463.1

309.2

44.1144.7120.4

64.7

36.019.616.4

22.46.3

6.1.2

1.7

26.024.3

87.4

47.040.4

467.8

313.0

44.7146.0122.3

64.4

34.718.316.4

22.77.0

6.7.4

.9

25.724.8

89.4

48.740.7

474.0

315.9

44.7147.4123.8

66.0

36.819.916.9

23.65.7

5.2.5

2.6

27.625.1

89.5

48.840.7

475.6

318.6

45.0148.8124.8

64.8

37.820.617.2

24.22.9

2.4.6

2.3

27.625.3

89.9

48.841,1

481.4

322.9

47.8148.9126.2

65.2

36.920.216.8

24.83.4

2.9.6

1.4

26.925.5

91.9

49.642.3

TABLE 6.—IMPLICIT PRICE DEFLA-TORS FOR GNP (VH-2, VII-3)—Con. [Index numbers, 1954 = 100]

1

2

345

6

789

1011

12

1314

15

1617

Gross national product

Personal consumption expenditures

Durable goodsNondurable goodsServices

Gross private domestic investment

New construction _Residential nonfarmOther _

Producers' durable equipment _ __Change in business inventories...

Net exports of goods and services

ExportsImports _ _ _ _

Government purchases of goods and services.

Federal _ _State and local.

111.9

107.8

106.0105.8110.9

115.5112.9118.8

120.9

104.597.3

120.2

121.3119.0

112.4

108.3

106.8105.7112.1

116.4114.0119.9

121.4

103 997.6

120.6

121.4119.6

112.9

108.8

107.0106.1113.0

117.5115.0120.8

122.0

103.897.8

121.3

121.8120.7

113.3

109.2

105.5106.5113.9

117.8115.2121.0

121.1

105 0100.2

123.3

124.5121.9

113.8

109.6

106.8106.7114.3

117.8115 4120.5

121.5

105 5100.6

123.8

124.9122.5

114.0

110.1

107.0107.2114.8

118.5115.8121.6

121.8

105 2100.6

123.8

124.3123.2

114.4

110.1

105.9107 4115.0

118.7115 7122.1

121.8

105 9100 8

125.3

126 1124.5

114.9

110.6

105.5108 3115.3

118.6115 2122.3

121.3

105 699.8

126.1

127 1125.0

115.3

110.8

105.0108 5115.6

118.9114 4123.4

121.7

106 199 1

127.3

128 4126.1

115.6

110.8

105.4108 1116.0

119.6115 9123.5

121.5

108 298 6

127.6

128 1127.0

115.9

111 0

105 6108 2116.3

120 0116 5124 0

121.3

107 899 1

128.2

127 8128 6

116.1

111.2

105 2108 4116.7

120.2116 6124.4

120.9

108 899 8

128.4

127 2129 9

116.4

111 4

105 7108 8116 7

120 3116 0125 1

120 8

108 499 2

128.7

126 9130 9

116.6

111 7

106 3108 9117 0

120 8116 9125 4

121 5

106 8100 0

129.1

126 9131 7

117.1

112 0

106 0109 2117 5

121 7117 9126 2

121 5

106 499 8

130.1

127 9132 8

117.4

112 4

105 6109 9118 0

121 7117 6126 7

120 3

106 899 9

130.8

128 2133 8

15Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BUSINESS STATISTICSJl HE STATISTICS here update series published in the 1961 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY

OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1957 through 1960 (1951-60, for majorquarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and referencesto sources of earlier figures. Series added or significantly revised after the 1961 BUSINESS STATISTICS went to press are indicated by an asterisk(*) and a dagger (t), respectively; certain revisions for 1960 issued too late for inclusion in the aforementioned volume appear in the monthlySURVEY beginning with the July 1961 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonalvariation.

Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are providedthrough the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS

1960 | 1961 | 1962

Annual total

1960

I II III IV

1961

I | II III IV

1962

I II III | IV

1963

I

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series

NATIONAL INCOME AND PRODUCTf

National income, totalf - bil. $_

Compensation of employees, total do.__

Wages and salaries, total doPrivate - - - doMilitary doGovernment civilian do

Supplements to wages and salaries doProprietors' income, totalcf do

Business and professionalcf doFarm _ _ _ _.do

Rental income of persons doCorporate profits and inventory valuation adjust-

ment total bil. $

Corporate profits before tax, total _ _ d oCorporate profits tax liability doCorporate profits after tax do _

Dividends doUndistributed profits __do

Inventory valuation adjustment _ do__

Net interest do

Gross national product, totalf do

Personal consumption expenditures, totaL.do

Durable goods, total © _ doAutomobiles and parts -doFurniture and household equipment- --do

Nondurable goods, total © doClothing and shoes _ do_ _ _Food and alcoholic beverages doGasoline and oil do

Services, total © doHousehold operation doHousing _ doTransportation do

Gross private domestic investment, total do

New construction doResidential nonfarm. do

Producers' durable equipment doChange in business inventories do

Nonfarm do

Net exports of goods and services doExports _ _ _ doImports do

Govt. purchases of goods and services, total._doFederal (less Government sales) do

National defense 9 _ do. _State and local _ do

By major type of product:*!Final sales, total do

Goods, total _ __ doDurable goods doNondurable goods _ do

Services doConstruction do

Inventory change, total doDurable goods doNondurable goods do

' 414. 5

293.6

271.3222.9

9.938.522.346.234.212.012.1

44.5

44.322.322.014.57.5.2

18.0

' 502. 6

328.2

44 918.819.1

151 828.179 511.7

131 519 541 910.7

71.8

40 721.127 63 53.2

3 026 323 3

99.653.145.746 5

'499 1253 794 2

159 5188 856 7

'3.52 31.1

' 426. 1

302.1

278.8227.010.241.623.348.135.312.812.1

43.8

43.822 021.815.36.5.0

20.0

' 518. 2

336.8

43.617.119.2

155 128.681.111.9

138 020 444. 110.7

69.0

41 621.025.51 91.5

4.427 523 1

107.957.449.050 6

'516 3257 393 8

163 5200 458 6

' 1 9— 42.2

' 453. 7

322.9

297.1241.610.844.725.749.836.513.312.0

47.0

46.822.224.616.68.1.2

22.0

' 554. 9

355. 4

48.220.420.2

161. 429.884.212 3

145.721 546.611.3

78.8

44 423.228.85 54.9

3.828 925 1

117.062.453.354 6

' 549 3272 8101 5171 3214 562 1

'5 52 92.6

' 413. 4

290.5

268.5221.6

9.837.122.0

45.334.610.712.1

47.9

48.524.424.114.49.7-.6

17.6

' 500. 4

324.2

45.519.619.1

149 928.178.511.4

128.719 140.910.5

77.6

40 921.527.49 39.1

1.525 223 7

97.252.445.444 7

' 491 1251 695 4

156 2183 755 8

'9 38 21.1

' 416. 6

294.6

272.2224.4

9.838.0

22.347.034.612.412.1

45.2

45.422.822.614.48.2-.2

17.7

' 504. 1

329.7

45.719.219.3

153 028.580 211.6

131 019 541 510.7

73.3

40 791 228 44 23.9

2 326 324 0

98.952.945 646 0

' 499 9254 894 4

160 4188 856 3

'4 22 51.7

'415.4

295.8

273.3224.2

9.939.122.546.133.812.212.1

43.2

42.121.220.914.66.41.2

18.2

' 503. 5

328.7

44.618.319.1

152 028.379 411.8

132 219 642 110.7

70.9

40 521.027 72 72.3

3 326 723 4

100.553.545 947 0

'500 7254 193 g

160 3189 956 8

r 2 7

1 41.3

' 412. 8

293.9

271.3221.610.039.722.546.633.812.712.1

41.5

41.120.620.414.85.6.5

18.8

' 502. 1

330.3

43 917.918.8

152 327.779 911.9

134 219 942 810 8

65.3

40 720 526 8

—2 3—2.7

4 927 022 1

101.653.745 948 0

504 4254 393 2

161 1199 g57 3

' —2 3—2 7

.4

'411.1

294.0

271.2220.810.040.422.847.034.212.812.1

38.8

38.519.419.215.04.2.3

19.1

' 500. 4

330.7

41 215.718.3

153 928.280 611.9

135 620 043 310.7

59.6

39 319 024 6

—4 3—4.6

5 427 522 1

104.755.447 549 3

' 504 7252 890 6

162 2195 356 7

' —4 3—6 6

2.3

' 423. 2

300.1

276.9225.810.041.223.147.635.012.612.1

43.6

43.421.821.615.16.5.2

19.8

' 512. 5

334.9

43 116.719.1

154 528.281 011.7

137 320 443 810 6

66.6

41 020 124 51 1.8

4 326 522 2

106.857.149 049 7

' 511 4254 692 1

169 5199 157 7

'111 52.6

' 429. 0

304.4

281.0228. 810.042.223.448.335.712.612.1

44.0

44.322.322.015.26.8-.3

20.3

'521.9

337.9

43 917.019.6

155 328.681 211.9

138 820 644 410 7

72.0

42 621 925 83 53 2

4 127 823 7

107.957.148 650 8

518 3257 694 3

163 3201 559 2

' 3 52 01.5

' 441. 0

309.9

286.1232.510.842.823.849.536.313.212.0

48.6

48.924.624.315.88.5-.3

21.0

' 537. 8

343.8

46 418.920.0

156 929 381 611.9

140 520 845 010 8

77.6

43 222 827 17 26 9

4 028 324 2

112.359.850 952 5

' 530 5264 098 9

165 8205 760 9

' 7 24 72.5

' 444. 7

316.0

290 7236.111.143.625.249.536 013.512 0

46.1

45.921.724.216.28.0.1

21 2

'544 5

348.8

47 319 720.0

158 929 782 712 1

142 621 345 611 1

77.3

41 721 227 48 17 6

3 327 924 6

115. 161.852 553 3

' 536 3268 199 9

168 2209 059 2

'814 83.3

' 452. 4

322.5

296 8241.711 044.1

25.749.636 513.112 0

46.5

46.722.124.616.48.2

—.2

21 7

'552 4

352.9

47 520 119.8

160 629 583 912 2

144 821 546 311 3

79.6

44 523 328 76 55 8

4 429 525 0

115.561.952 953 6

' 546 0270 799 9

170 8213 561 8

' 6 53 13.4

' 455. 5

325. 3

299 4243.710 745.0

25.949.836 613.212 0

46.1

46.221.924.316.57.8-.1

22 3

'556 8

356.7

47 719 820.3

162 529 985 012 3

146 621 546 911 4

78.9

46 024 229 33 62 8

4 129 425 3

117.062.453 554 6

' 553 1274 8102 6172 1215 263 1

' 3 62 51.2

' 462. 2

327.7

301 5244.710 546.326.2

50.336 913.412 0

49 3

48.422.925.517 18.4.9

23 0

' 565 2

362.9

50 522 220.6

163 629 985 212 6

148 921 847 611 6

78.8

45 023 729 94 03 2

3 328 825 5

120.263.654 356 6

' 561 2977 4103 5174 0220 263 6

' 4 01 32.6

' 466. 7

332.0

304 5246 710 747.127.550 737 213 512 0

48 8

48 322.925 417 18.3

4

23 3

571 8

367.4

50 622 020.9

165 330 285 812 8

151 422 248 211 8

77.8

43 722 729 05 14 3

3 628 624 9

123.065.556 457 5

' 566 6281 7106 3175 3222 562 5

' 51j -^4 n

' Revised, f Re vised series. Fstimates of national income and product and personalincome have been revised back to 1959 (see p. 12 ff. of this issue of the SURVEY); revisionsprior to May 1962 for personal income appear on p. 19 of this issue of the SURVEY, d"Includes

inventory valuation adjustment. ©Includes data not shown separately. 9 Governmentsales are not deducted. *For quarterly data back to 1947, see p. 35 of the July 1962 SURVEY.

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

S-2 SUEVEY OF CURRENT BUSINESS July

Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS

1960 1961 1962

Annual total

1960

III IV

1961

I II III IV

1962

I II III IV

1963

I II III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

NATIONAL INCOME AND PRODUCT— Con.f

Quarterly Data Seasonally Adjusted at Annual RatesGNP in constant (1954) dollars

Gross national product totalt bil. $

Personal consumption expenditures, total.. do

Durable goods doNondurable goods doServices do

Gross private domestic investment, total do

New construction doProducers' durable equipment doChange in business inventories do

Net exports of goods and services do

Government purchases of goods and services, totalbil. $_.

Federal doState and local do

DISPOSITION OF PERSONAL INCOMEfQuarterly Data Seasonally Adjusted at Annual RatesPersonal income total bil. $__Less: Personal tax and nontax payments doEquals' Disposable personal income do. _

Personal saving § doNEW PLANT AND EQUIPMENT

EXPENDITURESUnadjusted quarterly totals or averages:

All industries bil. $

Manufacturing doDurable goods Industries doNondurable goods industries do

Mining doRailroads doTransportation, other than rail doPublic utilities doCommercial and other do

Seas. adj. qtrly. totals at annual rates:All Industries do

D hip P'nnd ~1 dn<?trip<? doura j goo b u -. ._

Railroads do

Public utilities do

BUSINESS POPULATIONFirms In operation, end of quarter (seasonally ad-

justed) _ thous

U.S. BALANCE OF INTERNATIONALPAYMENTS}

Quarterly Data are Seasonally AdjustedU.S. payments, recorded . _. __mll . $

Imports:Merchandise. _ _ doMilitary expenditures doOther services do

Remittances and pensions do .Govt grants and capital outflows . do

U.S. private capital doDirect investments _.doLong-term portfolio _ ...doShort-term do

U.S. receipts, recorded ...do

Exports:Merchandise _ doServices and military sales do

Repayments on U.S. Govt. loans doForeign capital other than liquid funds do

Excess of recorded receipts or payments (— )._ .do

Unrecorded transactions do

Total, net receipts (+) or payments (—)._. doExcl. transactions in nonmarketable, medium-

term convertible Government securities mil.$

' 439. 9

298.1

42.2141.4114.5

60.2

34.422.73.1

1.7

79.942.337.6

'401.351.4

' 349. 9

'21.7

8.92

3.621.801.82

.25

.26

.481.422 89

3 4, 658

31, 174

14, 7233,0485,434

6723, 405

3,8921.694

8501,348

27, 976

19, 4597, 515

636366

-3, 198

-683

-3,881

' 447. 7

303.6

41.5143.3118.9

57.5

34.721.01.7

2.3

84.344.839.5

-•417.4r 52 9

' 364. 4

'27.6

8.59

3.421.571.85

.24

.17

.461.382.92

3 4, 713

31, 778

14, 4972,9345,436

7054,056

4,1501,5981,0111,541

30, 313

19, 9138,398

1,274728

-1, 465

-905

-2,370

r 474. 8

317.6

45.6147.8124.3

65.2

36.723.84.8

1.8

90.249.041.2

' 442. 1'57.7

' 384. 4

'29.1

29.33

3.671.761.91

.27

.21

.521.373.29

r 3 4, 755

33, 254

16, 1453,0285,791

7364,281

3,2731,5571,209

507

32, 093

20, 4799,311

1,2831,020

-1,161

-1,025

-2, 186

' 440. 2

298.6

42.1141.5115.0

59.4

34.122.82.6

2.0

80.242.437.8

* 403. 5'51.3

' 352. 2

'23.4

8.98

3. 021.801.81

.25

.24

.471.502.90

35.90

14.657.357.30

1.001.001.905.60

11.75

4,720

7,937

3,664789

1,364

169826

1,125362221542

7,112

4,9401,905

19671

-825

193

-1,018

' 437. 1

298.6

41.6140.7116.4

54.5

34.322.1

-1.9

3.4

80.642.238.4

' 404. 350.9

' 353. 4

'23.0

9.53

4.011.952.06

.24

.25

.461.582.99

35.50

14.406.857.55

.901.001.805.70

11.65

4,730

7,993

3,422725

1,335

957

1,377688215474

7,001

4,9861,942

133-60

-992

-265

-1,257

' 434. 0

298.5

39.3141.9117.3

49.7

33.120.2-3.6

3. 6

82.343.139.1

' 406. 6'51.3

r 355. 3

'24.5

7.57

3.001.411.59

.21

.17

.411.092.69

33.85

13.756.507.25

.95

.701.755.35

11.30

4,740

7,673

3,386773

1,318

187985

1,02445894

472

7,428

5, 0502, 038

128212

-245

-227

-472

' 443. 4

302.2

40.9142.9118.4

55.6

34.220.21.2

1.9

83.744.639.1

' 414. 552.5

' 362. 0

'27.1

8.61

3.461.581.88

.26

.18

.481.392.85

33.50

13.506.207.30

1.00. 70

1. 805. 50

11.05

4,750

7,535

3,404764

1,338

171856

1,002344219439

7,956

4,7552, 088

851262

421

-390

31

450.4

304.5

41.6143.5119.4

59.9

35.521.33.1

1.9

84.244.639.5

' 420. 253.0

' 367. 2

'29.2

8.65

3.341.501.84

.25

.16

.471.502.94

34.70

13.656.107.55

1.00.65

1.905.65

11.85

4, 760

7,917

3,826680

1,365

1731,029

844399234211

7,247

4,9872,120

9941

-670

15

-655

' 463. 1

309.2

44.1144.7120.4

64.7

36.022.46.3

1.7

87.447.040.4

' 428. 0' 54. 9

' 373. 1

'29.3

9.54

3.881.792.09

.26

. 16

. 501.543.20

35.40

14.006.407.60

1. 00.60

1.955.55

12.35

4,770

8,653

3,881717

1,415

1741, 186

1,280397464419

7,682

5,1212,152

196213

-971

-303

-1,274

' 467. 8

313.0

44.7146.0122.3

64.4

34.722.77.0

.9

89.448.740.7

' 433. 5'56.2

' 377. 3

'28.5

8.02

3.141.441.69

.26

.16

.471.062.94

35.70

14.206.557.60

1.15.70

2.055.15

12.45

4,780

8,246

3,942754

1,423

1911,075

861199357305

7,688

5,0222,184

155327

-558

-27

585

' 474. 0

315.9

44.7147.4123.8

66.0

36.823.65.7

2.6

89.548.840.7

' 440. 7'57.9

' 382. 7

'29.8

9.50

3.691.771.92

.27

.26

.601.373.30

36.95

14.456.957.50

1.05.95

2.255.40

12.85

4,790

8,316

4.030748

1,444

1821,078

834506329-1

7,901

5,2622,348

23754

-415

-37

-452

' 475. 6

318.6

45.0148.8124.8

64.8

37.824.22.9

2.3

89.948.841.1

' 444. 5' 58. 1

' 386. 5

'29.7

9.62

3.721.791.93

.28

.24

.501.543.35

38.35

15.057.257.80

1.101.002.005.75

13.40

4,800

8,214

4,127732

1,423

1761,045

711359188164

8, 327

5,2702,280

601176

113

-469

-356

'481.4

322.9

47.8148.9126.2

65.2

36.924.83.4

1.4

91.949.642.3

' 449. 9' 58. 5

'391.4

'28.5

10.18

4.132.032.10

.27

.20

.501.523.55

37.95

15.007.307.70

1.00.80

1.905.45

13.80

4,815

8,478

4,046794

1,501

1871,083

86749333539

8,177

4,9252, 499

290463

301

492

-793

' 485. 3

325. 5

48.1150.1127.3

64.6

35. 724.04.9

1.8

93.450.642.9

' 453. 9' 59. 4

' 394. 5

'27.1

8.25

3.271.621.65

.24

.21

.391.043.11

36.95

14.857.357.50

1.05.90

].705.20

13. 20

4,825

8,430

3,985741

1,447

2171,082

958556457

-55

7,668

4,9982, 368

168134

762

44

806

4.^fi

19.84

3.931.961.97

.26

.30

.521.433.40

138.40

15.357.657.70

1.001.051.955.55

13.45

2 10. 09

3.911.941.96

.26

.26

.491.553.62

2 39. 95

15.807.957.85

1.051.102.005.80

14.25

r Revised. » Preliminary. (based on incomplete data) is 4,797,000.i Estimates for Apr. -June 1963 based on anticipated capital expenditures of business. f See corresponding note on p. S-l (revisions prior to 3d qtr. 1960 appear on p. 12 ff. of2 Estimates for July-Sept. 1963 based on anticipated capital expenditures of business. this issue of the SURVEY).

Anticipated expenditures for the year 1963 are as follows (in bil. $): All industries, 39.24; § Personal saving is excess of disposable income over personal consumption expendituresmanufacturing, total, 15.56; durable goods industries, 7.72; nondurable goods industries, shown as a component of gross national product on p. S-l.7.84; mining, 1.02 ; railroads, 1.08; transportation, 1.90; public utilities, 5.61; commercial and J More complete details are given in the quarterly reviews in the Mar., June, Sept.,other, 14.07. and Dec. issues of the SURVEY. Revisions prior to 3d qtr. 1960 will be shown later.

3 Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1963Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis