erp1962 appendixes 2

Appendix B

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

2OI

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

CONTENTSNational income or expenditure: Page

B-l. Gross national product or expenditure, 1929-61 207B-2. Gross national product or expenditure, in 1961 prices, 1929-61 208B-3. Gross national product or expenditure, in 1954 prices, 1929-61 210B-4. Gross national product by major type of product, 1947-61 212B-5. Gross national product by major type of product, in 1954 prices,

1947-61 213B-6. Implicit price deflators for gross national product, 1929-61 214B-7. Gross national product: Receipts and expenditures by major economic

groups, 1929-61 216B-8. Gross private and government product, in current and 1961 prices,

1929-61 218B-9. Personal consumption expenditures, 1929-61 219B-10. Gross private domestic investment, 1929-61 220B-ll . National income by type of income, 1929-61 221B-12. Relation of gross national product and national income, 1929-61.. . . 222B-l 3. Relation of national income and personal income, 1929-61 223B-14. Sources of personal income, 1929-61 224B-l 5. Disposition of personal income, 1929-61 226B-l 6. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1961 prices, 1929-61 227B-l 7. Financial saving by individuals, 1939-61 228B-18. Sources and uses of gross saving, 1929-61 229

Employment, wages, and productivity:B-l 9. Noninstitutional population and the labor force, 1929-61 230B-20. Employment and unemployment, by age and sex, 1942—61 232B—21. Employed persons not at work, by reason for not working, and special

groups of unemployed persons, 1946—61 . 233B-22. Unemployed persons, by duration of unemployment, 1946-61 234B—23. Unemployment insurance programs, selected data, 1940-61 235B-24. Number of wage and salary workers in nonagricultural establishments,

1929-61 236B-25. Average weekly hours of work in selected industries, 1929-61 238B-26. Average gross hourly earnings in selected industries, 1929-61 239B—27. Average gross weekly earnings in selected industries, 1929-61 240B—28. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939—61 241B—29. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1961 prices, 1939-61 242B—30. Labor turnover rates in manufacturing industries, 1930—61 243B-31. Indexes of output per man-hour and related data, 1947-61 244

Production and business activity:B—32. Industrial production indexes, market groupings, 1947—61 245B—33. Industrial production indexes, industry groupings, 1947-61 246B-34. Business expenditures for new plant and equipment, 1939 and 1945—62. 248B-35. New construction activity, 1929-61 249

203621876 O-62-14


Production and business activity—Continued PageB-36. New public construction activity, 1929-61 250B-37. Housing starts and applications for financing, 1929-61 251B—38. Sales and inventories in manufacturing and trade, 1939—61 252B-39. Manufacturers' sales, inventories, and orders, 1939—61 253

Prices:B-40. Wholesale price indexes, 1929-61 254B-41. Wholesale price indexes, by stage of processing, 1947-61 256B-42. Consumer price indexes, by major groups, 1929-61 258B-43. Consumer price indexes, by special groups, 1935-61 259

Money supply, credit, and finance:B-44. Money supply, 1947-61 260B-45. Loans and investments of all commercial banks, 1929-61 261B-46. Federal Reserve Bank credit and member bank reserves, 1929-61.. . . 262B-47. Bond yields and interest rates, 1929-61 263B-48. Short- and intermediate-term consumer credit outstanding, 1929—61.. 265B-49. Instalment credit extended and repaid, 1946-61 266B-50. Mortgage debt outstanding, by type of property and of financing,

1939-61 " 267B-51. Net public and private debt, 1929-61 268

Government finance:B-52. U.S. Government debt, by kind of obligation, 1929-61 269B-53. Estimated ownership of U.S. Government obligations, 1939-61 270B—54. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1946-61 271B-55. Federal budget receipts and expenditures and the public debt, 1929-63. 272B-56. Federal budget receipts by source and expenditures by function, fiscal

years 1946-63 273B-57. Government cash receipts from and payments to the public, 1946-63 . 274B-58. Government receipts and expenditures in the national income ac-

counts, 1929-61 275B-59. Federal Government receipts and expenditures in the national income

accounts, 1946-61 276B—60. Reconciliation of Federal Government receipts and expenditures in

the conventional budget and the consolidated cash statement withreceipts and expenditures in the national income accounts, fiscalyears 1959-63 277

B-61. State and local government revenues and expenditures, selected fiscalyears, 1927-60 278

Corporate profits and finance:B-62. Profits before and after taxes, all private corporations, 1929—61 279B—63. Relation of profits after taxes to stockholders' equity and to sales,

private manufacturing corporations, by industry group, 1958—61. . . 280B—64. Relation of profits before and after taxes to stockholders' equity and

to sales, private manufacturing corporations, by asset size class,1958-61 282

B-65. Sources and uses of corporate funds, 1950-61 283B-66. Current assets and liabilities of United States corporations, 1939-61. . 284B-67. State and municipal and corporate securities offered, 1934-61 285B-68. Common stock prices and earnings and stock market credit, 1939-61. 286B-69. Business population and business failures, 1929-61 287

204


Agriculture: PageB-70. Income from agriculture, 1929-61 288B-71. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-61 289B-72. Farm production indexes, 1929-61 291B-73. Selected measures of farm resources and inputs, 1929-61 292B-74. Farm population, employment, and productivity, 1929-61 293B-75. Comparative balance sheet of agriculture, 1929-62 294

International statistics:B-76. United States balance of payments, 1956-61 295B-77. Major U.S. Government foreign assistance, by type and by area,

total postwar period and fiscal years 1958-61 296B-78. United States merchandise exports and imports, by economic category,

1949 and 1956-61 297B-79. United States merchandise exports and imports, by area, 1949 and

1956-61 298B-80. Estimated gold reserves and dollar holdings of foreign countries and

international organizations, 1949 and 1956-61 299B-81. Price changes in international trade, 1954-61 300

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.

205


NATIONAL INCOME OR EXPENDITURE

TABLE B-l.—Gross national product or expenditure, 1929-61

[Billions of dollars]

Year orquarter

Totalgrossna-

tionalprod-uct

192919301931193219331934193519361937193819391940194119421943194419451946194719481949

195019511952195319541955195619571958195919601961 «_—

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1397.5419.2442.8444.5482.8504.4521.2

Per-sonalcon-

sump-tionex-

pendi-tures1

79.071.061.349.346.451.9

56.362.667.364.667.671.81.989.7

100.109.8121.7147.1165.4178.3181.

195.0209.8219.8232.6238.0256.9269.9285.2293.2314.0328.9339.2

Gross private domestic invest-ment2

Total

16.210.35.5

1.42.96.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.50.348.963.867.466.156.672.472.469.5

New construc-tion

8.76.24.01.91.41.72.33.34.44.04.85.56.63.72.32.73.8

11.015.319.18.824.24.825.527.629.34.935.536.135.540.240.741.8

2.11.6.6.5.6

1.01.61.92.02.7

3.03.51.7

1.14.87.5

10.19.6

14.112.512.813.815.4

18.17.17.018.022.321.1

IO

5.14.12.41.21.01.11.31.72.52.02.1

2.53.12.01.412.76.37.79.39.2

10.112.312.713.814.3

16.217.819.017.417.9

20.5

5.84.52.81.61.62.33.14.25.13.64.25.56.94.34.05.47.7

10.716.718.917.218.921.321.322.320.823.127.228.523.125.927.525.

1.2

1.7- . 4

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

1.02.2

- . 9.4

2.24.51.8

- . 8- 1 . 0- 1 . 1

6.4- . 54.7

- 3 . 16.8

10.23.1.4

- 1 . 65.84.1.6

- 2 . 0

4.22.0

Netex-

portsof

goodsandserv-ices3

0.8.7.2.2.2.4

- . 1- . 1

. 11.1.9

1.51.1

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

4.99.03.53.8

.62.41.3

- . 41.01.12.94.91.2

4.0

Government purchases of goodsand services

Total

9.29.28.18.09.8

10.011.811.712.813.314.124.859.788.696.582.930.528.434.40.239.060.576.082.875.3

75.679.086.593.597.1

100.1108.6

Federal

Total

1.31.41.51.52.03.02.94.84.65.35.26.2

16.952.081.289.074.820.615.619.322.219.338.852.958.047.545.345.749.752.653.552.9

57.2

i1.31.41.51.52.03.02.94.84.65.3

1.3 3.92.2

13.849.680.488.675.918.811.411.613.614.333.946.449.341.2

39.140.444.444.846.2

I iStateandlocal

7.27.87.76.66.06.87.17.07.27.58.27.97.87.77.47.58.19.9

12.715.217.919.721.723.224.927.730.333.236.840.843.647.251.4

1959: IIIIll—-IV—.

1960: IIII I I—IV.—

1961: IIIIII.—IV 6...

Seasonally adjusted annual rates

472.2488.5482.3488.3501.5506.4505.1504.5500.8516.1525.8542.0

305.8313.6316.5320.0323.8329.9329.7332.3330.7336.1341.0349.0

70.479.168.271.878.974.670.565.659.868.873.276.0

39.041.241.039.640.940.740.440.739.641.342.743.5

21.923.522.621.321.521.221.020.519.320.622.123.2

17.117.718.418.319.319.519.420.220.420.720.620.3

24.326.326.626.627.128.627.726.724.224.726.028.0

7.111.7

. 75.6

10.95.42.4

- 1 . 9- 4 . 0

2.84 54! 5

- 0 . 6- 1 . 7

- . 5(5)

1.82.33.05.1

5.33.92.64.0

96.797.598.196.596.999.6

101.9101.6105.0107.3109.0113.0

53.253.954.152.951.852.954.053.054.756.657.459.9

45.946.546.345.945.545.545.445.747.248.849.051.6

7.77.98.37.5

6.97.99.17.9

8.08.38.98.9

0.5.5.5.5

.6

.6

.6

.6

.5

.5

.6

.6

43.543.644.043.645.046.848.048.650.350.651.653.2

1 See Table B-9 for major components.2 See Table B-10 for further detail and explanation of components.3 For 1929-45, net exports of goods and services and net foreign investment have been equated, since foreign

net transfers by Government were negligible during that period. See Table B-7 for exports and importsseparately.

* This category corresponds closely to the national defense classification in the Budget of the United StatesGovernment for the Fiscal Year ending June 30, 1963. See also Table B-56.

s Less than $50 million,fi Preliminary estimates by Council of Economic Advisers.

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

Source: Department of Commerce (except as noted).

207


TABLE B-2.—Gross national product or expenditure, in 1961 prices, 1929—61 1

[Billions of dollars, 1961 prices]

Year or quarter

1929

19301931193219331934 - - .

1935 . - . .1936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719.581959

I96019616

1959: IIIIIII V

I960: IIIIIIIV

1961: IIIIII -

Totalgross

nationalproduct

209.8

190.3175.9149.8146.3160.3

175.6200.5210.9201.5218.1

236.8275.8315.3355.2381.1

373.8325.4324.9337.5338.3

366.5396.5411.7430. 6422.0

455.1464 8473.6466.1497.3

511.1521.2

490.3504. 4495.2499.4

511.5514.2510. 6508.0

502.9516.9525.0540.2

Personal consumptionexpenditures

Total

142.8

134.3130.2118.5115.7121.6

129.1142.1147.1144.6152.7

160.8171.4167.9172.3178.6

190.9213.8217.4221.6227.3

241.0243.2249.6261.5265.0

284.7294.2302.1304.7322.4

332.7339.2

316.3322.8324.1326.4

329.3333.9333.1334.2

331.7336.7340.6347.8

Dura-ble

goods

15.7'

12.510.88.28.09.1

11.313.914.611.814.1

16.218.711.59.99.1

10.420.524.626.027.8

34.030.830.135.034.3

41.940.240.837.643.3

44.242.3

41.544.144.043.8

44.644.943.244.0

39.842.142.345.2

Non-durablegoods

70.6

67.266.861.559.763.7

67.274.977.578.883.0

86.892.694.597.4

101.7

109.7116.4113.9113.7115.0

118.1120.3124.4128.0129.1

135.7140.9143.4144.2150.2

153.4155.6

Services

56.5

54.652.548.748.048.8

50.553.355.154.055.7

57.860.161.965.067.8

70.976.978.982.084.4

88.992.195.198.5

101.6

107.2113.0117.9122.9128.9

135.1141.2

Gross private domestic investment

Total

42.4

29.118.05.25.79.9

18.725.931.718.826.2

34.643.722.413. 515.0

20.850.850.859.447.4

66.969.360.961.659.1

75.074.670.059.273.5

73.069.5

New construction

Total

25.5

18.913.37.45.66.3

8.211.513.812.314.7

16.518.59 55.45.9

8.221.124.227.527.1

33.131.631.5go e36.0

41.039 238.637.641.4

41.141.8

Resi-dentialnon-farm

1*2

6.05.02.51.92.2

3.65.45.86.08.0

8.69.24.22.01.7

2.28.6

11.313.413.2

18.215.115.016.018.1

21.319.118.019.122.8

21.121.3


148.0150.7150.6151.5

152.5154.6153. 6152.9

153.2154.3156.3158.8

126.8128.0129.5131.2

132.3134. 4136.3137.3

138.7140.4142.0143.8

72.180.269.072.6

80.175.070.666.3

60.268.973.075.9

40.742.542.040.4

41.541.140.741.1

40.041.442.543.4

22.724.123.021.6

21.721.221.020.6

19.420.622.023.2

Other

15 3

13.08.34.93.84.1

4.66.17.96.36.8

7 99.35 33.34.2

6.012.512.914.113.9

14 916.516.517.518.0

19.720.220.618.618.6

20.020.5

18.018.419.018.9

19.819.919.720.5

20.620.720.520.2

Produc-ers'

durableequip-ment

13.5

10.77.24.34.56.1

8.211.212.78.8

10.3

13.315.69.08.4

11.1

15.519.626.427.624.1

25.926.726.527.425.3

27.430.329.923.625.9

27.525.7

24.426.226.426.6

27.228.427.626.9

24.224.726.028.0

Changein busi-ness

inven-tories

3 4

— 6- 2 . 5—6 5- 4 . 4- 2 . 4

2.33.25.3

- 2 . 31.1

4 99.63 9

- . 3- 2 . 0

- 2 . 810.1

24.2

- 3 . 8

7 911.02.9.8

- 2 . 2

6.65 01.5

- 2 . 16.2

4.42.0

7.011.5

.65.5

11.45.42.3

- 1 . 7

- 4 . 02.84.54.5

See footnotes at end of table, p . 209.

208


T A B L E B—2.—Gross national product or expenditure, in 7961 prices, 1929—61 *—Continued


Year or quarter

1929.

193019311932.19331934.

1935.1936193719381939.

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961

1959: I....II...III-IV..

1960: I....II...III-IV..

1961: I-..II...III..IV «.

Netexportsof goodsand

services2

1.1

.4

.2- . 3- . 1

- 1 . 3- 1 . 5- . 91.61.0

1.9.2

- 2 . 3-6 .0-6 .1

-4 .85.09.53.13.8

1.43.62.6.4

2.3

2.54.35.71.5

3.74.0

Government purchases of goods and services

Total

23.4

25.927.325.925.228.8

29.234.032.936.538.2

39.560.5

127.3175.4193. 6

166.855.847.253.4

57.280.498.7

107.195.6

92.991.895.8

100.6101.6

101.8108.6

Federal

Total a Nationaldefense 3 *

4.34.74.96.78.8

8.513.112.314.614.0

16.739.1

107.8157.6176.2

149.035.924.629.132.2

27.550.067.874.860.5

55.453.055.056.655.8

53.857.2

(5)

8()()

3.46.0

31.8102.3154.8173.1

147.028.116.116.719.4

20.143.359.263.252.0

47.446.448.747.747.6

45.748.6

Other

()10.6

10.77.35.52.93.1

2.17.88.5

12.412.8

7.46.78.6

11.68.5

8.06.66.38.98.2

8.18.5

State andlocal


- 0 . 6-1 .4

2.63.03.65.6

5.33.82.64.0

102.4102.8102.299.5

99.5102.3103.2101.9

105.7107.5108.8112.5

56.256.756.154.3

53.154.454.653.0

54.956.957.259.9

48.048.447.446.6

46.046.245.445.1

46.848.548.351.0

8.28.38.67.6

7.18.29.27.9

8.08.48.98.9

19.7

21.622.621.018.520.0

20.621.020.722.024.2

22.821.419.517.717.4

17.819.922.524.327.7

29.730.431.032.335.0

37.538.740.844.045.8

48.051.4

46.246.146.145.2

46.447.948.648.9

50.850.651.652.7

1 These estimates represent an approximate conversion of the Department of Commerce series in 1954prices. (See Tables B-3 and B-6.) This was done by major components, using the implicit price indexesconverted to a 1961 base. Although it would have been preferable to redeflate the series by minor compo-nents, this would not substantially change the results except possibly for the period of World War II, andfor the series on change in business inventories.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U. S. Income andOutput, A Supplement to the Survey of Current Business, 1958.

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

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

* See footnote 4, Table B-l. 8 Preliminary estimates by Council of Economic Advisers.8 Not available separately. 7 Less than $50 million.NOTE.—Data for Alaska and Hawaii included beginning 1960.Sources: Department of Commerce and Council of Economic Advisers.

2 0 9


TABLE B-3.—Gross national product or expenditure, in 1954 prices, 1929-61l


Year or quarterTotalgross

nationalproduct

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«.

1959: I — .II—III..IV..

1960: I —II—III..IV..

1961: I.—II—III..IV».

181.8

164.5153.0130.1126.6138. 5

152.9173.3183.5175.1189.3

205. 8238.1266.9296.7317.9

314.0282.5282.3293.1292.7

318.1341.8353.5

363.1

392.7400.9408.6401.3428.4

440.8448.9


Total

128.1

120.3116.6106.0103.5108.9

115.8127.7132.1129.9137.3

144.6154.3150.8154.6160.2

171.4192.3195.6199.3204.3

216.8218.5224.2235.1238.0

256.0264.3271.2273.2289.3

298.3303.8

Dur-able

goods

14.9

11.810.3

7.87.58.6

10.713.113.811.213.3

15.317.610.9

9.48.6

9.819.423.324.626.3

32.129.228.533.132.4

39.638.038.535.541.0

41.840.0

Non-durable

goods

65.3

62.161.856.955.258.8

62.169.271.672.876.7

80.285.687.390.094.0

101.4107.6105.3105.1106.3

109.2111.2115.0118.3119.3

125.4130.3132.6133.3138.8

141.8143.9

Serv-ices

48.0

46.444.641.440.841.5

42.945.346.845.947.2

49.151.152.655.257.6

60.205.367.069.671.7

75.578.280.883.786.3

91.096.0

100.1104.4109.5

114.. 7119.9

Gross private domestic investment

TotalTotal

35.0

23.615.03.94.07.4

16.121.027.015.521.6

29.036.718.810.712.3

17.042.441.549.838.5

55.957.750.450.6

62.561.758.149.061.1

60.657.6

New construction

20.9

15.410.96.04.65.1

6.79.4

11.310.112.2

13.615.37.84.44.8

17.319.922.722.3

27.426.026.027.629.7

33.932.331.831.134.3

33.934.5


8.7

5.14.22.11.61.9

3.14.65.05.1

7.37.93.61.71.4

1.87.39.6

11.411.2

15.512.912.813.615.4

18.216.215.316.219.4

18.018.1

Other

12.2

10.46.63.93.03.2

3.64.96.35.05.4

6.37.44.22.73.4

4.810.010.311.211.1

11.913.213.214.014.3

15.716.116.514.814.8

16.016.4

Pro-ducers'durableequip-ment


11.1

8.85.93.53.75.0

6.79.2

10.57.38.5

10.912.97.46.99.2

12.716.121.722.819.8

21.322.021.822.520.8

22.525.024.619.421.3

22.721.2

Changein busi-

nessinven-tories

3.0

- . 7- 1 . 8- 5 . 6- 4 . 2- 2 . 8

2.62.45.2

- 1 . 81.0

4.58.63.6

- . 6- 1 . 7

-2 .49.0

- . 14.4

- 3 . 6

7.29.72.6.5

- 1 . 6

6.14.51.6

- 1 . 55.5

4.01.9

422.1434.4426.6430.7

441.0443.4440.2438.4

433.2445.5451.8465.2

283.8289.7290.8292.8

295.4299.5298.6299.6

297.0301.6305.0311.6

39.241.741.641.4

42.142.540.841.6

37.639.839.942.7

136.8139.3139.2140.0

140.9142.9142.0141.3

141.6142.6144.5146.8

107.7108.8110.0111.4

112.4114.2115.8116. 6

117.8119.2120.6122 2

59.966.957.360.4

66.662.358.654.9

49.657.360.462.9

33.735.234.733.4

34.333.933.633.9

32.934.135.135.9

19.320.519.618.3

18.418.117.917.5

16.517.6J8.719.7

14.414.715.115.1

15.915.915.716.4

16.416.616.416.2

20.121.621.721.9

22.423.422.722.1

19.920.321.423.1

6.210.1

.85.0

9.94.92.3

- 1 . 1

-3.22.93.94.0

See footnotes at end of table, p. 211.

2 I O


TABLE B—3.—Gross national product or expenditure, in 1954 prices, 7929-67 J—Continued


Year or quarter

1929. ._ _

19301931193219331934

19351936193719381939

19401941. . . .194219431944 .

194519461947.19481949. - _

19501951.19521953.1954

1955 _ _.1956 . -1957.19581959

19601961 s

1959: II IIII .IV . .

1960: I .III I II V

1961: IIIHIIV «

Net exports of goods andservices 2

Netexports

0.2

.2- . 3- . 3—.8- . 6

-1 .9-2 .2-1 .6

.8

.3

1.1- . 6

- 2 . 9-6 .6-6 .7

-5 .63.88.02.02.3

.22.21.2

- . 91.0

.92.53.8

—.2- 2 . 1

1.72.0

Exports

11.1

9.98.46.86.86.9

7.37.79.39.39.5

10.510.67.66.77.4

9.815.819.214.715.1

14.517.316.916.417.5

19.222.424.421.422.2

25.325.5

Imports

10.9

9.78.77.17.77.5

9.29.8

10.98.59.2

9.411.310.513.214.1

15.312.011.112.812.4

14.215.115.717.316.5

18.319.820.6-21.624.3

23.623.5

Government purchases ofgoods and services

Total

18.5

20.521.620.519.922.8

23.026.926.028.830.1

31.147.7

100.1137. 9152.2

131.243.937.242.147.2

45.163.377.784.375.3

73.272.375.579.380.1

80.285.6

Federal3

2.9

3.43.73.95.36.9

6.710.39.6

11.411.0

13.130.784.7

123.9138.4

117.128.219.422.925.3

21.639.353.358.847.5

43.541.743.244.543.9

42.345.0

Stateand local

15.6

17.117.916.614.615.8

16.316.616.417.419.1

18.016.915.414.013.8

14.015.817.819.221.9

23.524.124.525.527.7

29.730.632.234.836.2

38.040.7

Grossprivate

product

171.5

153.7142.0119.4115.0125.1

138.7156 6167.8158.0172.1

188.1216.0234.8246.4259.8

257.0252.7259.6270.3268.7

293.3311.1320.4336.2330.8

360.4368.2375.4367.9394.6

406.1413.1


-2 .2-3 .2-1 .9- . 9

.61.01.63.5

3.31.9.6

2.0

21.121.523.223.1

24.525.425.426.1

25.724.525.226.5

23.424.625.124.0

23.924.423.722.6

22.422.624.524.6

80.781.080.578.4

78.480.681.380.3

83.384.785.788.7

44.244.644.042.7

41.742.742.941.6

43.144.745.047.1

36.536.436.535.8

36.737.838.438.7

40.240.040.841.7

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

(6)(8)(8)

(6)

(6)(6)

1 For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, A Supplement to the Survey of Current Business, 1958. See Table B-6 for implicit price deflators.

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

3 Net of Government sales.4 Gross national product less compensation of general government employees; i.e., gross product accruing

from domestic business, households, and institutions, and from the rest of the world.8 Preliminary estimates by Council of Economic Advisers.• Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

2 1 1


T A B L E B-4.—Gross national product by major type of product, 1947-61


Year or quarter

1947.1948.1949.

19501951195219531954

19551956195719581959

I960.1961 i

1959:IIIIIIIV

1960:IIIIIIIV

1961:IIIIIIIV i

Totalgrossna-

tionalprod-uct

234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444. 5482.8

Finalsales

Inven-tory

change

234.8254.7261.1

277.8318.7343.9364.9364.8

391.7414.5441.2446.5476.5

504.4 500.2521.2 519.2

-0.4.7

-3.1

6. 8 163.10.23.1

4.2.0

Goods output

Total

- 0 . 5 143. 8 144. 3157.0 152.3149. 3 152. 4

.6191.8198.2

. 4 206. 9197.4

5.8 217.2 211.4. 7 227. 6 223.1. 6 238. 2 236.

- 2 . 0 229. 4 231. 46.3 250. 3 244. 0

2 258,

156.8181.6195.2206.4199.0

i. 5 254. 3258.9 256.9

- 0 . 54.7

- 3 . 1

6.810.23.1

.4- 1 . 6

5.84.71.6

- 2 . 06.3

4.22.0

Durablegoods

47.449.47.9

60.774.475.679.71.6

84.389.694.580.494.9

46.048.949.9

56.767.574.578.974.1

81.386.793.483.391.3

96.7 94.392.8 92.7

96.4. 9 107. 2

101.5

1.4.9

-2.1

Nondurablegoods

4. 0 102. 9 100.16.9 117.41. 2 122. 120. 7

'. 0 127. 5- 2 . 5 125. 9 125.0

9 127.

3.0 13?. 92. 8 138.11.0 143.

-2.3. 6 155. 4

149.0

2. 5 161. 8. 2 166. 0 164. 2

103.4102.4

114.1

130.2136.2143.2148.1152.8

160.0

-1.83.8

-1.0

.5

1.8

71.878.183.5

2.8 89.83. 3 102. 91.9 112.3l

- . 5 119.5.9 124.1

2. 7 133. 41. 8 143. 3

154. 59 164. 2

2. 6 176. 2

1.8 203.5 58.8

18.724.325.2

31.234.236.439.041. 6

46.948.250.150.956.3

189.3 56.6


472.2488.5482.3488.3

501.5506.4505.1504.5

500.8516.1525. 8542.0

465.2476.8481.6482.7

490.5501.0502.7506.4

504.!513.2521.3537.5

7 247.

10.'5.2.

-1.1

245. 4 238. 3256. 2 244. 6

. 8 247.1.. 7 246.1

9 261.

9 252.

- 4 . 0 245.7 249.2. 8 257.1

5 261.. 4 256. 95 271.2 266.6

8 250.93 256. 92 254. 88 254.

254.3

7.111.7

.75.6

10.95.42.4

- 1 . 9

93.5L01.191.693.4

102.5

,9.5

-4.02.84.54. 5 102. 6

90.996.1

92.493.690.9

93.196.394.2

92.699.3

5.8.

- 2 . 0 156.22.4

4 1518 155.

158.3

9.4 159.33.

162.6- 3 . 8 163.2

164.1- . 3 166.23. 5 165. 33.3 168.5 167.3

150.2152.2153.5

157.8160.6160.6161.3

162.;163.0164.3

1. 7 170. 72.2. 7 177. 63. 2 182. 2

1.51.52.2.

183.8187.7

.20 191

1. 8 197.3.1. 0 205.1.3 209.9

56.258.156.954.4

55.856.456.7

57.257.959.261.0

1 Preliminary estimates by Council of Economic Advisers.



2 1 2


TABLE B-5.—Gross national product by major type of product, in 1954 prices, 1947-61 l


Year orquarter

194719481949

19501951195219531954

1955195619571958.1959

19S01961 2

1959:IIIIIIIV

1960:

III —-I- .IIIIV

1961:IIIIIIIV 2

Totalgrossna-

tionalprod-uct

282.3293.1292.7

318.1341.8353.5369.0363.1

392.7400 9408.6401.3428.4

440.8448.9

Finalsales

282.4288. 7296.3

310.9332.1350.9368.5364.8

386.6396.4406.9402.8422.9

436.8447.1

Inven-tory

change

-0 .14.4

-3 .6

7.29.72.6

.5- 1 . 6

6.14.51.6

- 1 . 55.5

4.01.9

Total

Totalgoods

-0.1 163.3167.7

-3.6 162.3

177.6191.196.207.197.4

216.9221.4223.4211.5228.6

234.6233.6

Finalsales

Inven-tory

change

163.4163.4165.9

170.4182.0194.2207. 2199.0

210.8217.0221.7213.1223.1

230.6231.

-0.14.4

-3.6

7.29.72.6.5

-1.6

6.14.51.

-1 .55.5

4.01.9

Goods output

Durable goods

Total

55.855.451.9

65.374.675.180.871.6

83.184.985.57182.9

84.780.9

Finalsales

54.354.54.3

61.067.473.979.874.1

80.182.384.574.179.8

82.480.8

Inven-tory

changeTotal

1.5.8

-2.4

4.37.11.21.0

-2.5

3.02.71.0

-2.43.1

2.3

107.5112.3110.5

112.3117.1121.8126.9125.9

133.8136.5137.9139.8145. 7

150.0152.

Finalsales

109.2108.8111.6

109.4114.5120.3127.4125.0

134.7137.2139.0143.3

148.31519

goods

Inven-tory

change

-1 .63.5

- 1 . 2

2.92.61.5

5.9

3.11.8

. 7

. 82.4

1.71.8

Serv-ices

94.797.2

100.7

105.0114.2119.8122. 5124.1

130.2135.5141.2145.2151.7

158.7166.3

Con-struc-tion

24.328.229.7

35.436.036.938.841.6

45.643.944.044.548.1

47.549.1

422.1434.4426.6430.7

441.0443.4440.2438.4

433.2445. 5451.8465.2

416.0424.3425.8425.6

431.1438. 5437.9439.5

436.5442.6447.9461.3

6.210.1

. 85.0

9.94.92.3

- 1 . 1

- 3 . 22 93.94.0

224.9234.0226.0229.4

238.3237.9233.3228.9

221.9232.5235.4244.5


218.7223.9225.1224.4

228.4233.0231.1230.0

225. 2229.7231.6240.5

6.210.1

. 85.0

9.94.92.3

-1 .1

- 3 . 32.93.94.0

82.188.279.681.6

89.787.482.579.0

71.479.483.589.3

77.580.781.379.6

81.483.982.182.0

76.579.680.586.5

4.67.5

- 1 . 72.0

8.33.5

.4- 3 . 0

-5 .1_ 23^02.8

142.8145.8146.4147.8

148.7150.6150.8149.8

150.5153.2151.9155.2

141.3143.2143 9144.8

147.0149.1148 9148.0

148 7150.0151.0154.0

1.52.62.53.0

1.61.51.91.9

1.83.1

.91.2

148.7150.5152.3155.2

155.6158.0159.4161.6

163.2164.7167.1170.0

48.549.948.446.0

47.147.447.447.9

48.048.349.250.7

1 For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, A Supplement to the S'irvey of Current Business, 1958.




213


TABLE B-6.—Implicit price deflators for gross national product, 7929-67

[Index numbers, 1954=100]

Year or quarter

1929 - . .-_

193019311932 .19331934

1935 - -1936193719381939

19401941 __.194219431944

1945194619471948 •_ _1949

19501951 .19521953 - --1954 _

1955 ._1956 _-_195719581959

19601961 2

1959* IIIIIIIV

I960* III.IIIIV . -

1961* IIIIIII V 2

Grossnational

prod-uct 1

57.4

55.449.944.944.246.9

47.447.749.548.748.1

48.952.959.664.966.5

68.074.683.088.588.2

89.596.298.199.0

100.0

101.2104.6108.4110.8112.7

114.4116.1

111.9112.4113.0113.4

113.7114.2114.7115.1

115.6115 8116.4116.5


Total

61.6

59.052.646.544.847.6

48.649.150.949.849.2

49.753.159.565.068.6

71.076.584.689.588.7

89.996.098.099.0

100.0

100.4102.1105.1107.3108.6

110.3111.6

107.8108.3108.8109.3

109.6110.1110.4110.9

111.3111.4111.8112.0

Dur-able

goods

62.0

60.553.547.046.148.8

47.947.950.350.850.2

50.754.864.270.378.7

82.882.088.492.493.5

94.6101.1102.299.4

100.0

100.1101.3104.7104.9106.3

106.1105.8

105.9106.7106.8105.7

106.1106.8106.5105. 2

104.9105.7105.9106.6

Non-durablegoods

57.7

54.846.940.040.345.3

47.247.449.146.745.8

46.450.558.865.869.5

72.278.888.794.090.9

91.499.0

100.199.7

100.0

99.5100.9103.9106.3106.1

107.5108.2

105.9105.8106.1106.6

106.8107.3107.5108.3

108.5108.1108.2108.0

Services

66.8

64.260.355.350.750.7

50.951.953.854.554.5

54.856.859.862.865.5

67.171.176.881.783.6

85.989.893.697.7

100.0

101.7104.1107.0109.4112.5

115.2117.7

110.9112.1113.0114.0

114.5114.9115.4116.1

116.8117.4118.1118.7

Gross private domesinvestmenti

New construction

Total

41.7

40.036.531.131.233.3

34 134.839.039.139.0

40.143 447.653.056.3

57.863.776.685 984.3

88.395.398.4

100.1100.0

103.1109.8113.5114.2117.4

119.8121.1

115.8117.0118.1118.5

119.2119.9120.0120.0

120.3121.0121.7121.4


41.8

40 837.130.129.833.1

32 634.337.839.239.5

40.944 647.751.456.2

60 065 378.488 685.9

90.997.5

100.3101 3100.0

103.0109.0111.2111.2114.9

117.1117.5

113.3114.5115.6116.1

116.8117.4117.3116.9

116.6117.2118.0117.9

Other

41.6

39 736.231.731.933.4

35 435.239.939.138.4

39.142 247.654.056.3

56 962 674.883 182.6

85.193 196.598 9

100 0

103. 2110.7115 7117.6120.7

122.8125.1

119.3120 4121.3121.5

122.0122.7123.1123.4

124.1125.0125.9125.6

tic

Pro-ducers'durableequip-ment

52.5

50 547.945.543.145.9

45 645.448.750.249.4

50.654 058.558.459.3

60 066 776.883 187.0

89.096 897.599 0

100 0

102.6109.0115 7118.9121.5

121.5121.5

120.9121 6122.3121.2

121.4121.9121.9120.8

121.6121.5121.5121.4


2 1 4


TABLE B-6.—Implicit price deflators for gross national product, 1929—61—Continued

[Index numbers, 1954= 100]

Year or quarter

1929

1930 _19311932 .19331934

19351936 _ -_19371938. _.1939

19401941194219431944_

1945.1946.1947. . - -._19481949 - . .

1950.1951- .195219531954

195519561957 . . . _19581959

19601961 2

1959: I .IIIII _IV

1960: I - . - - - - - -IIIII __-IV .

1961: IIIIIIIV 2.

Exports and imports ofgoods and services *

Exports

63.1

55.043.236.235.243.0

44.746.048.946.546.9

51.256.164.968.173.3

75.380.893.498.692.7

90.3103.3103.0101.0100.0

100.7103.4107.4105.9103.9

105.2107.3

104.73,03.7103.2104.1

104.7105.2105.5105.6

107.1107.8107.1107.0

Imports

57.3

48.939.732.329.333.8

36.036.941.138.038.6

40.943.048.951.353.3

57.465.579.786.382.0

87.8102.8102.898.2

100.0

99.9101.8103.299.298.1

100.099.4

97.396.497.7

100.0

100.0100.2100.399.4

99.599.599.399.3

Government purchasesand services

Total

45.8

44.942.739.440.342.9

43.444.045.144.544.2

45.251.959.664.363.4

63.269.476.482.085.1

86.595.597.898.3

100.0

103.3109.2114.6117.9121.3

124.8126.8

119.8120.3121.9123.0

123.6123.6125.3126.5

126.1126.6127.1127.5

Federal •

44.5

41.841.738.238.343.2

43.746.947.346.146.8

47.055.161.465.664.3

63.973.080.884.488.0

89.698.799.298.6

100.0

104.1109.7114.9118. 3122.0

125.2127.2

120.4120.8122.9124.0

124.2123.7125.8127.4

127.0126.8127.6127.3

of goods

State andlocal

46.1

45.543.039.741.142:8

43.342.243 843.442.7

43 946.249.852 754.6

57.463.071.579 381.7

83.790.294 897.5

100.0

102 2108.6114.2117.3120.3

124.2126.5

119.0119.7120.7122.0

122.9123.5124.9125.6

125.1126.4126.6127.7

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

For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, A Supplement to the Survey of Current Business, 1958.




215


T A B L E B—7.—Gross national product: Receipts and expenditures by major economic groups1929-61


Year or quarterDis-pos-ableper-

sonalincome

1929.

19301931. - . .1932..19331934

193519361Q37l r38 . - . -1939 . - - .

1940.1941 . . . .194219431944

194519461947.--- --1948 - -.1949

1950-..-1951195219531954

1955.. .1956195719581959

1960 - - - --1961*

1959: I . . . .I I - .III..IV..

1960: I.—II...III..IV..

1961: I—.II__.III..IV*

Persons

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133 5146.8

150.41P0. 6170.11«9.3189.7

207.7227.523$. 7252.5256.9

274.4292.9308.8317.9337.3

351.8364.9

Per-sonalcon-

sump-tionex-

pend-itures

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.02,09.8219.8232.6238.0

256.9269.9285.2293.2314.0

328.9339.2

Per-sonal

savingor dis-saving

4.2

3.42.5

2.03.63.71.12.9

4.211.127.833.0

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.4

22.925.7

Business

Grossre-

tainedearn-ings i

11.5

5.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.045.644.850.7

51 7»54.2

Grossprivate

do-mesticinvest-ment

16.2

10.35.5

.91.42.9

6.38.4

11.76.7

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.9£0.348.9

63.867.466.156.672.4

72.469.5

Excessof re-ceiptsor in-vest-ment

For-eignnet

trans-fers by

gov-ern-

ment 2

- 4 . 7

- 1 . 5- . 31.81.22.0

.1- 1 . 9- 4 . 0

1.2- 1 . 0

- 2 . 8- 6 . 6

4.310.710.1

5.2-15 .1-12 .6-16.5- 5 . 4

-22 .3-24.8-16 .6-16 .0-13.4

-21 .8-24 .3-20 .5-11 .9-21 .7

- 2 0 . 73

International

()0.3

.11.63.2

2.82.11.51.61.4

1.51.51.51.31.5

1.61.6

Net exDorts of goodsand services 2

Netexports

.7

.2

.2

.2

.4

- . 1- . 1

.11.1

1.51.1

- . 2- 2 . 2- 2 . 1

- 1 . 44.99.03.5

2.41.3

- . 41.0

1.12.94.91.2

- . 7

3.04.0

Ex-ports

7.0

5.43.62.52.43.0

3.33.54.64.34.4

5.46.04.94.55.4

7.412.817.914.514.0

13.117.917.416.617.5

19.423.126.222.723.1

26.727.3

Im-ports

6.3

4.83.42.32.32.5

3.33.64.53.23.5

3.84.85.16.87.5

7.98.9

11.010.2

12.515.516.117.016.5

20.221.321.5

23.623.4


Excessof

trans-fers ornet ex-ports

329.8338.4338.7342.3

345.7352.7354.4354.9

354.3361.8367.7375.6

305.8313.6316.5320.0

323.8329.9329.7332.3

330.7336.1341.0349.0

23.924.822.322.3

21.822.824.622.7

23.725.826.826.6

49.352.149.851.4

52.051.951.851.2

50.353.954.8

70.479.168.271.8

78.974.670.565.6

59.868.873 276.0

-21 .1-27 .0-18 .4-20 .4

-27 .0-22 .7-18 .7-14 .4

- 9 . 5-14 .9-18 .4

(7)

1.51.41.31.9

1.51.61.51.6

1.61.51.71.5

- 0 . 6- 1 . 7—. 5(6)

1.82.33.05.1

5.33.92.64.0

22.122.324.024.1

25.626.726.827.6

27.626.427.028.4

22.724.024.524.0

23.924 423.822.4

22.322.524.324.4

- 0 . 8

- . 7- . 2- . 2- . 2- . 4

.1;1

- . 1- 1 . 1

- 1 . 5- 1 . 1

.22.22.1

1.4- 4 . 6- 8 . 9- 1 . 9- . 5

2.2- . 2

.22.0.4

.4- 1 . 5- 3 . 5

.12.3

- 1 . 5- 2 . 4

2.23.11.81.9

- . 2- . 7

- 1 4

-3 .7-2 .4

-2 .5

See footnotes at end of table, p . 217.

2 l 6


TABLE B—7.—Gross national product: Receipts and expenditures by major economic groups,7929-61—Continued


Year or quarter

192919301931193219331934

1935193619371938193919401941194219431944

19451946194719481949

19501951 .19521953195419551956195719581959.

19601961 *

1959: I .IIIIIIV

1960: IIIIIIIV

1961: IIIIIIIV *

Government

Receipts

Netre-

ceipts

9.5

8.96.46.46.77.4

8.08.9

12.311.211.2

13.321.028.344.444.6

43.134.641.642.837.0

47.266.672.275.768.5

78.484.287.582.094.9

102.05102. 4

Taxandnon-

tax re-ceiptsor ac-cruals

Trans-fers,inter-est,andsub-

sidies 3

11.3

10.89.5

10.5

11.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159.256.4

69.385.590.694.990.0

101.4109.5116.3115.1129.3

139.15143. 6

Pur-chases

ofgoodsandserv-ices

1.83.12.52.63.1

3.44.13.13.84.2

4.44.04.34.86.5

10.116.515.416.519.4

22.118.918.419.221.5

23.025.328.733.134.4

37.141.2

Expenditures

Totalex-

pendi-tures

8.5

9.29.28.18.09.8

10.011.811.712.813.3

14.124.859.788.696.5

82.930.528.434.540.2

39.060.576.082.875.3

75.679.086.593.597.1

100.1108.6

Trans-fers,

inter-est,andsub-

sidies 3

10.2

11.012.310.610.712.8

13.315.914.816.617.5

18.528.864.093.4

103.1

92.947.043.851.059.5

61.179.494.4

102.096.7

98.6104.3115.3126.6131.6

137.2149.8

Sur-plus ordeficit i(-) onincome

andprod-uctac-

count

1.83.12.52.63.1

3.44.13.13.84.2

4.44.04.34.86.5

10.116.515.416.519.4

22.118.918.419.221.5

23.025.328.733.134.4

37.141.2

1.0

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

- 2 . 0- 3 . 0

.6- 1 . 6- 2 . 1

-31.4-44.2-51.9

-39.74.1

13.38.2

- 3 . 1

8.26.1

- 3 . 9- 7 . 1- 6 . 7

2.95.21.0

-11.4- 2 . 2

1.9- 6 . 2

Totalincomeor re-ceipts

Statis-ticaldis-

crep-ancy

104.2

92.175.457.755.064.2

72.781.691.084.889.9

99.8125.4160.0194.2208.6

209.1208.6230.7260.3257.5

285.3327.7345.6364.1362.3

396.5421.6443.4446.0484.5

507.15 523.0

Grossna-

tionalprod-uct

or ex-pendi-

ture

0.3-1 .0

- . 21.1

- . 2.5

1.2

-1 .72.84.52.13.5

- . 8.5

- . 71.21.41.3.9

1.0-2 .4- . 6

-1 .5- 1 . 7-2 .6

s-1.7

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1397.5419.2442.8444.5482.8504.4521.2


92.697. 495.394.

103.103.101.99.

97.100103

(7)

44147

170

126.3131.3129.3130.4139.4140.0138.8138.3

136.9141.9145.4

(7)

33.833.934.036.0

36.036.837.438.6

39.841.242.341.7

96.797.598.196.596.999.6

101.9101.6

105.0107.3109.0113.0

130.4131.4132.1132.5132.9136.5139.3140.2

144.8148.5151.3154.8

33.833.934.036.0

36.036.837.438.6

39.841.242.341.7

- 4 .—

-2*.- 2 .

1180

6.53.

—- L

- 7 .

559

9- 6 . 6- 6 .

(7)0

473.1489.3485.1490. 1

502.5509.3509. 1507.4

503.4517.9527.3

(7)

- 0 .—

-2.- 1 ._ ]

-2.- 4 .- 2 .

- 2 .- 1 .- 1 .

(7)

99881909

685

472.2488.5482.3488.3501.5506.4505.1504.5500.8516.1525.8542.0

1 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allow-ances, and excess of wage accruals over disbursements.2 For 1929-45, foreign net transfers by Governrrent were negligible; therefore, for that period, net exportsof goods and services and net foreign investment have been equated.3 Government transfer payments to persons, foreign net transfers by Government, net interest paid bygovernment, and subsidies less current surplus of government enterprises.4 Preliminary estimates by Council of Economic Advisers.5 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are notavailable. All other data incorporating or derived from these figures are correspondingly approximate.

« Less than $50 million.' Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

217


T A B L E B—8.—Gross private and government product, in current and 1961 prices, 1929—61


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 «.

Current prices

Totalgrossna-

tionalprod-uct

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.8

504.4521.2

Gross private product l

Total

100.1

86.671.654.051.359.4

66.675.583.977.683.5

92.8116.4144.0167.0179.2

178.4189.9217.6242.0238.7

263.8301.7316.0333.6330.8

363. 5382.8403.8402.6438.6

457.1470.4

Farm 2

9.8

7.76.24.44.64.3

6.96.38.16.76.5

6.89.4

13.415.315.7

16.219.320.723.819.3

20.523.622.820.920.3

19.619.319.421.319.9

20.821.0

Non-farm

90.3

78.865.449.646.755.1

59.669.275.870.977.0

86.0107.0130.6151.7163.5

162.2170.7196.9218.2219.4

243.2278.2293.2312.7310.5

343.9363.5384.5381.2418.7

436.3449.4

Grossgov-ern-

mentprod-uct 3

4.3

4.54.74.44.75.6

5.97.36.97.67.6

7.89.4

15.125.632.2

35.220.716.717.419.4

20.827.331.031.832.3

34.036.438.942.044.1

47.350.8

Totalgrossna-

tionalprod-uct

209.8

190.3175.9149.8146.3160.3

175.6200.5210.9201.5218.1

236.8275.8315.3355.2381.1

373.8325.4324.9337.5338.3

366.5396.5411.7430.6422.0

455.1464.8473.6466.1497.3

511.1521.2

1961 pricej5*

Gross private product1

Total

195.1

174.9160.3134.5129.9141.4

155.4176.8188.6177.3193.7

211.6244.5269.8283.8298.6

292.9283.0292.6305.1304.4

331.3352.9364.6384.0376.1

409.3418.4426.4418.6449.3

461.9470.4

Farm *

15.8

14.516.915.915.713.0

15.813.516.917.117.1

16.818.019.618.018.5

17.417.616.218.517.6

18.617.318.018.719.5

20.520.119.820.019.9

20.921.0

Non-farm

179.3

160.4143.4118.7114.2128.4

139.6163.2171.6160.2176.6

194.9226.5250.2265.8280.1

275.5265.4276.4286. 6286.8

312.8335.5346.6365.3356.6

388.8398.3406.7398.5429.4

441.1449.4

Grossgov-ern-

mentprod-uc t 3

14.7

15.415.615.316.418.9

20.223.722.324.224.4

25.131.345.571.482.5

80.942.432.332.434.0

35.243.747.146.645.9

45.846.447.247.548.0

49.250.8

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

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

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

* See footnote 1, Table B-2.5 Preliminary estimates by Council of Economic Advisers.


Sources: Department of Commerce and Council of Economic Advisers.

2 l 8


TABLE B—9.—Personal consumption expenditures, 1929-61


Year or quarter

1929

19301931193219331934

19351936193719381939 __.

19401941194219431944

19451946194719481949

195019511952 _.19531954

1955195619571958.1959

19601961 <

1959: I__II.IIIIV

1960: I..II.IIIIV

1961: I..II.IIIIV

Totalper-

sonalcon-

sump-tionex-

pend-itures

79.0

71.061.349.346.451.9

56.362.667.364.67.6

71.981.989.7

100.5109.

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293.2314.0

328.9339.2

Durable goods

To-tal

9.2

7.25.53.63.54.2

5.16.36.95.76.7

7.89 77.06.6

8.115.920.622.724.6

29.1

32.4

40.4

1.08.7

6. 3 11. 07.4 11.99.8 11.5

13.0 14.029. 5 11. 6 14. 2

11.0 14.32. 9 14.0 14. 7

39. 6 18. 3 16. 638. 5 15. 8 17. 4

17.137.3 13.917.443. 5 18.1 18.9

44.3 18.618.842.3 16. 8 18.5

4.6

13. 4 14. 8

17.4

Nondurable goods

To-tal

37. 7 19. 5

34.0 18.028.9 14. 722. 8 11. 422. 3 10. 926. 7 12.2

29.3 13.632.35.34.35.

32. 8 15, 22 16. 4

34.0 15. 671 15.

3.73. 9 115.14.1

37.243.51.59.365. 4 30. 6 14. 6

16.7L41.7

27.

2 19.3 23.

73. 2 34.1 16. 584. 8 40. 7 18. 293. 4 45. 8 18. 898. 7 48. 2 20.196. 6 46. 4 19. 3

8 47. 4 19.6110.1 53.4 21.1

55. 8 21. 9118.0 56.6 21.9

4. 3 119. 3 57. 7 21. 9

2 23.424.5

4. 8 124. 8 59.5. 3 131. 4 62. 25. 8 137. 7 65. 2 25. 46.0141.6 67.4 25.7 10.6.6 147.3 68.4 27.4

6.9 152.4 70.2 28.17.0 155. 6 71.9 28.4

7.48.8

11.08 13.

2. 2 10.1

2.3

1.4

3.6

10.812.3

1. 3 16. 718.7

1. 8 20. 83.0 22. 9

25.24. 4 26.05.0 25. 9

5. 4 27. 46.0 29. 56. 7 30. 77. 5 31. 88. 0 31. 7

11.6 42.511.8 43. 6

Services

32.1 11.4

29.26.922.920.721.0

21.923.525.125.025.8

8 11

26.929.31.34.737.

40.46.451.4

8.8 33.4 92.5 30.79. 6 35. 2 100. 0 32. 7

10. 4 36. 7 107.1 35. 2i. 5 38.0 114.3 37.7

11.0 40. 123.2

141.2

.010.39.07.97.6

7.67.98.48.89.0

9.30

1.811.3

9

0 105 10.

7 11

4 12.13.815.6

56. 9 17. 660. 0 19. 3

64.9 21.270. 2 23. 275. 6 25. 481. 8 27. 586. 3 29.1

132.2 42.244.5

4.0

3.93.53.02.83.0

3.23.43 73.63.8

4.04.34.85.25.9

6.6.77.47.8.4

9.310.110.811.712.1

13.514.815.816.9

39.9 18.1

19.621.1

2. 6 14.0

2 12.9 11.

9 10.;9.41.3

2.0 11.11. 9 10. 72.0 11.0

6.1

1.7.2

9.38.58.8

11.412.313.114.716.3

0 17.4.15.15. 5 23.06. 0 25. 4

520.8

6.2

6. 3 28.19 29.4 32.

6.17. <8.0 34.67.9 37.1

8. 3 39.9S. 6 43. 89.0 47.0

50.610.0 55.2

10.510. 8 64.9


305.8313.6316.5320.0

323.8329.329.7332.3

330.7336.1341.0349.0

41.6 17.2 18.044.5 19.018.944.4 18.443.7 17.6 19.3

44.7 18. 8 19.145.3 19.3 19.043.4 17.8 18. 743.818.618.3

39. 4 14.8 17.842.0 16.7 18.342.3 16.4 18.845.5 19.2 19.2

19.2

6.3 144. 9 68. 0 26.5 10. 7 39.7 119. 4 39.3 17. 56.5 147.3 68.5 27.810.6. 7 147. 7 68.2 27.6 11.1 40.8 124.4 40.16.8149.3 68.9 27.8 11

6. 7 150.5 69.17. 0 153.

6.8 153.1

3 70.5 28.6.9 152.7 70.0 28.3 11

28.1

9 40.2121.9 39.817.8140.1 41.

3 11

9.5 53.29. 8 54. 5

18.210.2 55.85 127.0 40.518.9 10.2 57.3

71.127.7 11.8 42.4 135.4 43.1

6.8 153.7 71.0 27.9 11.7 43.1 17.0 154.1 71.3 27.611.7 43.57. 0 156.2 72.4 28.6 11.8 43. 4 142.4 44.8 21.2 10.9 65.57.1 158. 5 72. 8 29. 6 11.9 44.2 145. 0 45. 5 21. 6 11. 0 (

11.4 41.9 128.6 41.1].642.91. 6 42.8 133.6 42. 7 19.7 10. 5 60. 8

19. 2 10.4 57.9131.2 41.919.5 10.5 59.3

L 137.5 43. 6 20.6 10. 5 62. 8i. 5 139.9 44.2 20.9 10. 7 64.1

20.0 10.5 61.7

1 Quarterly data are estimates by Council of Economic Advisers.2 Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.* Preliminary estimates by Council of Economic Advisers.



621876 O-62-15 219


T A B L E B—10.—Gross private domestic investment, 1929-61


Year orquarter

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 <_.

1959: II I . . . .I I I . . .IV. __

1960: II I . . . .III.

1961:I I . . . .I I I . . .IV <__

Totalgross

privatedomes-tic in-vest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.7

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.4

72.469.5

Fixed investment

Total

70.479.168.271.8

78.974.670.565.6

59.868.873.276.0

14.6

10.66.83.53.04.0

5.47.49.57.68.9

11.013.68.16.48.2

11.521.831.938.436.0

43.246.146.849.950.5

58.162.764.658.666.1

68.267.5

New construction l

Total

8.7

6.24.01.91.41.7

2.33.34.44.04.8

3.72.32.7

11.015.319.518.8

24.224.825.527.629.7

34.935.536.1-35.540.2

40.741.8

Resi-dential

non-farm

3.6

2.11.6.6.5.6

1.01.61.92.02.7

3.03.51.7

1.14.87.5

10.1

14.112.512.813.815.4

18.717.717.018.022.3

21.121.3

Other 2

Total

5.1

4.12.41.21.01.1

1.31.72.52.02.1

2.53.12.01.41.9

2.76.37.79.39.2

10.112.312.713.814.3

16.217.819.017.417.9

19.620.5

Non-farm

4.8

3.92.31.2.9

1.0

1.21.62.31.81.9

2.22.81.71.21.6

2.55.46.37.87.7

8.510.410.812.112.7

14.616.317.515.916.2

18.018.6

Farm

0.3

Producers' durableequipment

Total

5.8

4.52.81.61.62.3

3.14.25.13. 64.2

5.56.94.34.05.4

7.710.716.718.917.2

18.921.321.322.320.8

23.127.228.523.125.9

27.525.7

Non-farm

5.2

4.02.61.41.52.1

2.73.64.53.13.7

4.96.13.73.54.7

6.99.8

14.916.414.4

16.218.418.619.518.5

20.625.026.220.323.0

25.123.4

Farm

0.6

.5

.3

.1

.1

.3

.4

.5

.6

.5

.5

.7

.6

.7

.7

.91.82.62.9

2.72.92.72.82.3

2.52.22.32.82.9

2.42.4

Change in businessinventories

Total

1.7

- . 4-1 .3-2 .6-1 .6-1 .1

1.02.2

- . 9.4

2.24.51.8

- . 8-1 .0

- 1 . 16.4

- . 54.7

-3 .1

6.810.23.1.4

-1 .6

5.84.71.6

-2 .06.3

4.22.0

Non-farm

1.8

i

- L 6-2 .6-1 .4

.2

.42.11.7

-1 .0.3

1.94.0.7

- . 6- . 6

- . 66.41.33.0

-2 .2

6.09.12.11.1

-2 .1

5.55.1.8

- 2 . 96.2

4.01.7

Farm


63.367.567.666.2

68.069.368.167.4

63.866.068.771.5

39.041.241.039.6

40.940.740.440.7

39.641.342.743.5

21.923.522.621.3

21.521.221.020.5

19.320.622.123.2

17.117.718.418.3

19.319.519.420.2

20.420.720.620.3

15.616.016.716.6

17.717.817.818.6

18.818.518.518.5

1.51.61.71.7

1.71.71.61.6

1.52.22.11.8

24.326.326:626.6

27.128.627.726.7

24.224.726.028.0

21.423.323.623.8

24.726.025.324.3

21.722.423.825.6

2.92.92.92.8

2.42.52.42.4

2.52.32.22.4

7.111.7

.75.6

10.95.42.4

-1 .9

-4 .02.84.54.5

6.911.6

.75.5

10.85.12.0

- 2 . 2

- 4 . 32.44.14.3

-0.2

.3(3)- . 3

- 1 . 3

.5- 1 . 1

.5

.1

.1

.3

.51.2

- . 2- . 4

- . 5(3)

- 1 . 81.7

1.2.9

- . 6.5

.3- . 4

.3

0.2.1

.1

.3

.3

.4

.4

.2

1 Revisions in series on new construction shown in Table B-35 have not yet been incorporated into theseseries.

2 Includes petroleum and natural gas well drilling, which are excluded from estimates in Table B-35.3 Less than $50 million.4 Preliminary estimates by Council of Economic Advisers.



2 2 0


TABLE B—11.—National income by type of income, 7929—67[Billions of dollars]

Year or quarter

Totalna-

tionalin-

come1

87.875.759.742.540.249.057.164.973.667.672.881.6

104.7137.7170.3182.6181.2180.9198.2223.5217.7241.9279.3292.2305.6301.8330.2350.8366.9367.4399.6417.1430.2

Com-pen-

sationof em-ploy-ees 2

51.146.839.731.129.534.337.342.947.945.048.152.164.885.3

109.6121.3123.2117.7128.8141.0140.8154.2180.3195.0208.8207.6223.9242.5255.5257.1278.4293.7302.9

Business and pro-fessional incomeand inventory

valuationadjustment

Total

8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.019.021.319.922.422.723.526.026.927.427.830.432.132.732.535.036.236.5

In-come

ofunin-

corpo-ratedenter-prises

8.6

6.75.03.13.74.6

5.46.67.16.67.5

8.511.514.317.018.119.123.021.422.822.224.626.326.727.627.830.632.633.032.635.236.336.4

In-ven-toryvalu-ationad-

just-ment

In-come

offarmpro-prie-tors 3

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.511.815.315.517.812.914.016.315.313.312.711.811.611.813.511.312.013.1

Rent-al in-come

ofper-sons

5.4

4.83.82.72.01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.66.26.57.38.3

9.09.4

10.210.510.910.710.911.912.211.911.711.5

Corporate profitsand inventory

valuationadjustment

Total

10.16.61.6

-2 .0-2 .0

1.1

2.95.06.24.35.7

9.114.519.723.823.018.417.323.630.828.235.741.037.737.333.743.142.041.737.246.445.1

M6.2

Cor-porateprofitsbeforetaxes 4

9.6

3.3- . 8

-3 .0. 2

1.7

3.15.76.23.36.4

9.317.020.924.623.319.022.629.533.026.440.642.236.738.334.144.944.743.237.446.845.0

M6.1

In-ven-toryvalu-ationad-

just-ment

Netin-

terest

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.

1960.19616

1959: II I —III—IV—

1960: II I —III—IV—

1961: II I —III . . .IV 6..

0.1.8.6.3

- . 5- . 1(5)

.2_ 2

- . 6- . 4- . 2- . 1- . 1-1.7-1.5- . 4

.5

-1.1- . 3

.22

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

.1

0.53.32.41.0

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

- . 7- . 2-2.5-1.2- . 8

-5.3-5.9-2.2

1.9-5.0-1.2

1.0-1.0- . 3

-1.7-2.7-1.5- . 3- . 5

6.46.05.85.45.04.94.84.74.74.64.64.54.54.33.73.33.23.13.84.24.85.56.37.18.29.1

10.411.713.414.816.618.420.0


390.7405.2399.4402.8413. 5419.2419.0416.5412.2426.0434.3

270.6280.0280.5282.4290.2294.6296.0294.0292.6300.2306.2312.7

34.135.235.335.335.836.436.336.336.036.336.637.2

34.235.635.535.236.136.336.136.535.936.036.737.2

-0 .1- . 4- . 2

.1

- . 3(5)

.2- . 2

(5). 3

- . 1(5)

12.511.510.610.810.512.312.412.712.912.912.813.6

12.011.911.811.711.711.711.711.711.511.511.511.5

45.350.244.445.547.445.944.142.940.045.547.0(8)

46.151.544.844.948.146.343.242.639.645.247.2(8)

-0 .9- 1 . 3- . 4

.7

- . 7- . 4

.9

. 3

.4

. 3- . 2(5)

16.216.416.717.017.818.318.618.919.219.620.220.7

1 National incomj 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 B-12.

2 Wages and salaries and supplements to wages and salaries (employer contributions for social insurance;employer contributions to private pension, health, and welfare funds; compensation for injuries; directors'fees; pay of the military reserve; and a few other minor items).

3 Excludes income resulting from net reductions of farm inventories and gives credit in computingincome to net additions to farm inventories during the period. Data for 1929-45 differ from those shown inTable B-70 because of revisions by the Department of Agriculture not yet incorporated into the nationalincome accounts.

4 See Table B-62 for corporate tax liability (Federal and State income and excess profits taxes) andcorporate profits after taxes.

s Less than $50 million.e Preliminary estimates by Council of Economic Advisers.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 (except as noted).

221


TABLE B-l 2.—Relation of gross national product and national income, 7929-67


Year or quarter

Grossna-

;ionalprod-

uct

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.8

504.4521.2

Less: Capital con-sumption allowances

Total

8.6

8.58.27.67.27.1

7.27.57.77.87.8

8.19.0

10.210.912.0

12.510.713.015.517.3

19.122.024.026.528.8

32.034.437.438.640.8

43.145.2

Depre-ciationcharges

7.7

7.77.67.06.76.6

6.76.76.96.97.1

7.38.19.29.9

10.8

11.29.0

11.113.115.1

16.518.820.923.125.2

27.930.533.435.237.2

39.341.5

Other*

0.9

.8

.6

.6

. 5

. 5

.6

.8

.8

.8

.7

. 81.01.01.01.2

1.31.72.02.42.2

2.63.23.13.53.6

4.03.94.03.43.7

3.83.7

Equals:Netna-

tionalprod-uct

95.8

82.668.150.948.857.9

65.375.283.077.483.3

92.5116.8149.0181.6199.4

201.0200.0221.3244.0240.8

265.5307.0323.0338.9334.3

365.5384.8405.3405.9442.0

461.4476.0

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-prises

-0.1

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

. 3

.4(2)

. 1

. 2

. 5

.4

.1

.2

.2

. 7

.8

. 9- . 2- . 2- . 2

. 2

.2- . 2- . 4- . 2

(2).9

1.01.1.4

. 51.3

Less:

Indirect business

Total

7.0

7.26.96.87.17.8

8.28.79.29.29.4

10.011.311.812.714.1

15.517.318.620.421.6

23.725.628.130.230.2

32.935.738.239.342.7

45.647.1

taxes

Fed-eral

1.2

1.0. 9.9

1.62.2

2.22.32.42.22.3

2.63.64.04.96.2

7.17.97.98.18.2

9.09.5

10.511.210.1

11.011.612.211.913.0

14.013.8

Stateandlocal

5.8

6.16.05.86.45.6

6.06.46.86.97.0

7.47.77.77.88.0

8.49.4

10.812.313.5

14.716.117.619.020.1

21.824.126.027.429.6

31.633.3

Busi-ness

trans-fer

pay-ments

0.6

. 5

. 6

. 7

. 7

. 6

. 6

.6

.6

.4

. 5

.4

. 5

. 5

. 5

. 5

. 5

.6

. 7

. 7

.8

.8

]

L.OL.2L. 4L.3

L.5L.6L.81.81.8

1.81.8

Sta-tisti-caldis-crep-ancy

0.3

-1.0. 8. 8. 9. 7

- . 21.1

- . 25

L 2

.8

.4- . 8

-1 .72.8

4.52.13.5

- . 8. 5

- . 71.21.41.3

.9

1.0-2.4

- . 6-1 .5-1.7

-2.6«-1.7

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..

I960..1961 a.

1959: I . . . .I I . . .III . .IV..

1960: I . . . .I I . . .III. .IV..

1961: I . . . .I I . . .III. .IV 3

87.8

75.759.742.540.249.0

57.164.973.667.672.8

SI. 6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241.9279.3292.2305.6301.8

330.2350.8366.9367.4399.6

417.1< 430.2


472.2488.5482.3488.3

501.5506.4505.1504.5

500.8516.1525.8542.0

39.840.641.141.8

42.543.043.243.7

44.245.045.546.1

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

(8)(5)(5)(4)

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

(5)(8)(5)(e)

(«)(5)(*)(5)

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

432.5447.8441.2446.5

459.0463.4461.9460.9

456.6471.1480.3496.0

0.7. 5. 3. 3

. 5

.6

.5

. 5

. 51.41.81.5

41.542.143.143.9

45.345.945.545.9

45.746.447.548.9

12.612.713.313.6

14.114.213.813.8

13.313.614.014.5

28.929.429.830.3

31.231.731.732.1

32.432.933.534.4

1.81.81.81.8

1.81.81.81.8

1.81.81.81.8

-0.9- . 9

-2 .8-1.8

-1.1-2.9-4.0-2.9

-2.6-1.8-1 .50)

390.7405.2399.4402.8

413.5419.2419.0416.5

412.2426.0434.3

1 Accidental damage to fixed capital and capital outlays charged to current account.2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.* Data for corporate profits are appoximations 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.a Not available.



222


TABLE B—13.—Relation of national income and personal income, 1929—61


Year or quarter

1929

193019311932 _ . _19331934

1935 .19361937 - -19381939

1940194119421943 - -1944

19451946194719481949

19501951195219531954

19551956195719581959

I960 -__1961 i

1959* IIIHIIV

I960: IIIIIIIV —

1961: III . . .I l lIV _ . _

Nationalincome

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241.9279.3292.2305.6301.8

330.2350.8366.9367.4399.6

417.12 430. 2

390.7405.2399.4402.8

413.5419.2419.0416.5

412.2426.0434.3

Less:

Corpo-rate

profitsand in-

ven-toryvalu-ation

adjust-ment

10.1

6.61.6

- 2 . 0- 2 . 0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323.630.828.2

35.741.037.737.333.7

43.142.041.737.246.4

45.12 46.2

45.350.244.445.5

47.445.944.142.9

40.045.547.0

Contri-butions

forsocialinsur-ance

0.2

. 3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.2

6.16.05.75.25.7

6.98.28.68.79.7

11.012.614.514.817.6

20.721.9

Excessof

wageac-

crualsoverdis-

burse-ments

0.2- . 2

.1

- . 1

Plus:

Gov-ern-

menttrans-

ferpay-

mentsto

persons

0.9

1.02.11.41.51.6

1.82.91.92.42.5

2.72.62.62.53.1

5.610.911.110.511.6

14.311.612.012.915.0

16.017.220.124.525.4

27.331.0

Netinter-

estpaidby

gov-ern-

ment

1.0

1.0J-i

:

1L.2L.2

1.1

L 2?

1.31.31.52.12.8

3.74.54.44.54.7

4.85.05.05.25.4

5.45.76.26.27.1

7.87.3

Seasonally adjusted annual rat(

17.117.617.717.8

20.420.721.120.8

21.221.722.022.6

24.925.125.226.3

26.326.827.528.8

30.131.031.631.4

6.66.97.27.5

7.77.87.87.7

7.57.37.27.2

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.612.413.4

14.114.4

JS

13.013.313.713.8

14.014.014.114.3

14.214.214.315.0

Busi-ness

trans-fer

pay-ments

0.6

. 5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

. 5

.5

.5

.5

.5

. 6

.7

.7

.8

.81.01.21.41.3

1.51.61.81.81.8

1.81.8

1.81.81.81.8

1.8

:L.8L.8L.8

L.8L.8

8L.8

Equals:

Per-sonalin-

come

85.8

76.965.750.147.253.6

60.268.573 968.672.9

78 796.3

123.5151.4165.7

171.2179 3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9351.4360.3383.3

402.2416.7

374.7384. 6385.1388.9

395.5403.1405.1405.4

404.7413.2420.3428.6

1 Preliminary estimates by Council of Economic Advisers.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.3 Not available.



223


TABLE R-14.—Sources of personal income, 1929-61


Year or quarterTotalper-sonal

income

Wage and salary disbursements *

Total

Commodity-producingindustries

TotalManu-factur-

ing

Distrib-utiveindus-tries

Serviceindus-tries

Gov-ern-

ment

Otherlabor

income

Proprietors'income 2

Busi-nessand

profes-sional

Farms

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 <

1959: I....II...III..IV_.

1960: I....II...III..IV..

1961: I.._.II. _III.IV«.

85.8

76.965.750.147.2

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9351.4360.3383.3

402.2416.7

50.4

46.239.130.529.033.7

36.741.946.143.045.9

49.862.182.1

105.6117.0

117.6111.9122.8135.2134.4

146.4170.7184.9198.1196.3

210.9227.6238.5239.8258.5

271.3279.7

21.5

18.514.39.99.8

12.1

13.515.818.415.317.4

19.727.539.249.050.4

45.946.054.360.356.9

63.574.980.588.184.1

91.498.7

102.297.9

107.2

110.4111.2

16.1

13.810.87.77.89.6

10.812.414.611.813.6

15.621.730.940.942.9

38.236.542.546.543.9

49.458.363.069.966.1

72.377.780.676.784.7

87.487.8

15.6

14.512.59.88.8

10.711.813.212.613.3

14.216.318.020.122.7

24.830.935.238.839.0

41.346.048.751.852.3

55.860.363.463.868.2

71.873.4

8.4

8.07.15.85.25.7

5.96.57.16.87.1

7.58.19.09.9

10.9

12.014.316.017.317.9

19.321.122.624.325.5

27.830.532.834.837.7

40.743.1

4.9

5.25.35.05.16.1

6.57.97.58.28.2

8.410.216.026.633.0

34.920.617.318.820.5

22.328.832.933.934.4

36.038.040.243.245.3

48.451.9

0.6

.7

.7

.91.11.5

1.81.92.32.73.0

3.84.85.36.06.2

7.18.19.19.4

10.3

10.911.1


7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.922.422.7

23.526.026.927.427.8

30.432.132.732.535.0

36.236.5

374.7384.6385.1388.9

395.5403.1405.1405.4

404.7413.2420.3428.6

251.4260.1260.3261.9

268.3272.4273.2271.3

270.1277.3282.7288.7

104.3109.5107.5107.8

111.4111.8110.5108.0

106.1110.7112.8115.2

82.286.685.085.1

88.688.587.285.2

83.887.588.990.8

66.368.169.169.2

70.472.372.572.1

71.872.874.374.8

36.237.438.239.1

39.640.541.241.5

41.842.543.644.7

44.745.145.545.9

46.947.849.049.7

50.451.352.154.0

9.910.210.510.7

10.610.810.911.2

10.810.811.211.5

34.135.235.335.3

35.836.436.336.3

36.036.336.637.2

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.5

11.815.315.517.812.9

14.016.315.313.312.7

11.811.611.813.511.3

12.013.1

12.511.510.610.8

10.512.312.412.7

12.912.912.813.6


224


TABLE B-14.—Sources of personal income, 1929-61—Continued


Year orquarter

Rentalincomeof per-sons

5.4

4.83.82.72.01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.6,6.26.57.38.3

9.09.4

10.210.510.9

10.710.911.912.211.9

11.711.5

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.612.413.4

14.114.4

Personalinterestincome

7.4

6.96.96.66.26.1

5.95.85.95.85.8

5.85.85.85.86.2

6.97.68.28.79.4

10.311.212.113.414.6

15.817.519.621.023.6

26.227.3

Transfer payments

Total

1.5

1.52.72.22.12.2

2.43.52.42.83.0

3.13.13.13.03.6

6.211.411.811.312.4

15.112.613.214.316.2

17.518.821.926.327.2

29.132.8

Old-ageand sur-vivorsinsur-ance

benefits

(5)(5)(5)

(5)0.1

.1

.2

.2

.3

.4

.5

.6

.7

1.01.92.23.03.6

4.95.77.38.5

10.2

11.112.6

Stateunem-ploy-

ment in-surancebenefits

(5)0.4

.4

. 5

. 3

.3

.1

.1

.41.1

.8

.81.7

1.4. 8

1.01.02.0

1.41.41.83.92.5

2.84.0

Vet-erans'

benefits

0.6

.61.6

.8

. 5

.4

.51.9

. 6

. 5

. 5

. 5

. 5

.5

.5

.9

2.86.86.75.85.1

4.93.93.93.73.8

4.24.24.44.64.5

4.64.8

Other

0.9

.91.11.41.61.8

1.91.61.81.92.0

2.02.22.22.22.4

2.73.23.84.24.9

7.96.06.26.66.7

7.07.58.49.4

10.0

10.611.5

Less:Personalcontri-butions

for socialinsur-ance

0.1

.1

.2

.2

.2

.2

.2

.2

.6

.6

.6

. 7

.81.21.82.2

2.32.02.12.22.2

2.93.43.83.94.6

5.25.86.76.97.9

9.39.7

Non-agricul-

turalpersonalincome *

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 6.

1959: III—III—IV—

1960:

1961:

II I —III—

II I —III—IV 6


12.011.911.811.7

11.711.711.711.7

11.511.511.511.5

13.013.313.713.8

14.014.014.114.3

14.214.214.315.0

22.823.423.924.4

25.526.126.426. 7

26.827.027.428.0

26.826.927.028.2

28.128.629.330.6

32.032.933.533.2

9.510.310.410.5

10.711.211.311.4

11.812.512.713.4

2.92.22.12.8

2.42.42.93.8

3.84.54.03.8

4.64.64.44.5

4.64.54.54.6

4.74.84.84.8

9.89.9

10.210.3

10.510.510.610.8

11.711.111.911.3

7.87.98.08.0

9.29.29.39.3

9.59.79.8

10.0

77.7

70.860.946.943.649.8

53.963.267.062.867.1

72.688.0

111.5137.6151.6

156.8161.2172.8189.2192.1

211.3237.0254.3271.5273.8

295.0317.9336.1343.0368.1

386.2399.4

358.2369.1370.8374.1

381.0386.6388.7388.7

387.8396.3403.2410.4

1 The total of wage and salary disbursements and other labor income differs from compensation of em-ployees in Table B-ll 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 Data for 1929-45 differ from those in Table B-70 because of revisions by the Department of A griculturenot yet incorporated into the national income accounts.

4 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.

5 Less than $50 million.6 Preliminary estimates by Council of Economic Advisers.



225


TABLE B—15.—Disposition of personal income, 7929-67

Year or quarter Personalincome Personal

taxesi

Equals:Dispos-

ablepersonalincome

Less:Personal

con-sumptionexpendi-

tures

Equals:Personalsaving

Saving aspercentof" dis-posablepersonalincome(percent)

Billions of dollars

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 2.

1959: I . . .I I . .I I I .IV..

1960: I . . . .I I . .III. .IV..

1961: I . . .I I . .I I I .IV 2

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9351.4360.3383.3

402.2416.7

2.6

2.51.91.51.51.6

1.92.32.92.92.4

2.63.36.0

17.818.9

20.918.721.521.118.7

20.829.234.435.832.9

35.740.042.642.346.0

50.451.8

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9308.8317.9337.3

351.8364.9

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293.2314.0

328.9339.2


374.7384.6385.1388.9

395.5403.1405.1405.4

404.7413.2420.3428.6

44.946.146.446.6

49.950.550.850.5

50.351.452.553.1

329.8338.4338.7342.3

345.7352.7354.4354.9

354.3361.8367.7375.6

305.8313.6316. 5320.0

323.8329.9329.7332.3

330.7336.1341.0349.0

4.2

3.42.5

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.4

22.925.7

23.924.822.322.3

21.822.824.622.7

23.725.826.826.6

1 Includes also such items as fines and penalties.2 Preliminary estimates by Council of Economic Advisers.



226


T A B L E B—16.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1961 prices, 1929—61

Year or quarter

Total disposablepersonal income

(billions ofdollars)

Currentprices

1961prices ]

Per capita dis-posable personalincome (dollars)

Currentprices

1961prices

Total personalconsumptionexpenditures

(billions ofdollars)

Currentprices

1961prices 2

Per capita per-sonal consump-

tion expendi-tures (dollars)

Currentprices

1961prices 3

Popu-lation(thou-sands) 4

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«.

1959: I...II..III.IV..

1960: I...II..III.IV..

1961: I...II..III.IV*

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9

317.9337.3

351.8364.9

329.8338.4338.7342.3

345.7352.7354.4354.9

354.3361.8367.7375.6

150.3

140.6135.5117.1114.0121.8

133.7150.1155.0147.0158.9

170.2194.6220.0229.0238.7

235.7233.4223.5235.2238.0

256.7263.6270.9284.0286.1

304.2319.4327.1330.5346.3

355.7364.9

604514390364411

458516551506537

576697871976

1,061

1,0751,1361,1801,2911,272

1,3691,4741,5201,5821,582

1,6601,7421,8041,8261,905

1,9471,987

1,233

1,1421,091938908963

1,0501,1701,2031,1321,212

1,2891,4581,6311,6741,725

1,6851,6511,5511,6041,596

1,6921,7081,7251,7801,762

1,8401,9001,9111,8981,956

1,9693,987

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293.2314.0

328.9339.2

142.8

134.3130.2118.5115.7121.6

129.1142.1147.1144.6152.7

160.8171.4167.9172.3178.6

190.9213.8217.4221.6227.3

241.0243.2249.6261.5265.0

284.7294.2302.1304.7322.4

332.7339.2


576494

410

442488522497516

544614665735793

8701,0401,1481,2161,215

1,2861,3591,4001,4571,465

1,5541,6051,6661,6841,773

1,8201,847

341.1348.5346.7349.3

351.7357.0358.0357.0

355.4362.5367.3374.5

1,8741,9151,9081,920

1,9241,9561,9571,951

1,9401,9741,9982,032

1,9381,9721,9531,959

1,9571,9801,9771,963

1,9461,9781,9962,026

305.8313.6316.5320.0

323.8329.9329.7332.3

330.7336.1341.0349.0

316.3322.8324.1326.4

329.3333.9333.1334.2

331.7336.7340.6347.8

1,7371,7751,7831,795

1,8021,8291,8211,827

1,8111,8341,8531,888

1,172

1,0901,049948921961

,014,109,141,113,165

,217,285,245,260,290

,364,512,508,511,524

,589,576,5901,6381,632

1,7231,7491,7651,7511,821

1,8411,847

1,7971,8271,8261,831

1,8331,8521,8391,837

1,8171,8371,8511,882

121,875

123,188124,1.49124,949125, 690126, 485

127, 362128,181128,961129,969131,028

132,122133,402134, 860136, 739138,397

139, 928141, 389144,126146, 631149,188

151, 683154, 360157,028159,636162, 417

165,270168,176171,198174,060177,076

180,670183i650

176,012176,714177, 493178, 291

179, 690180, 328181,084181, 898

182, 601183,292184,054184,851

1 Estimates in current prices divided by the implicit price deflator for personal consumption expendi-tures on a 1961 base.

2 See Table B-2 for explanation.3 Total expenditures in 1961 prices divided by population.* Population of the United States including armed forces abroad. Annual data are for July 1; quarterly

data are for middle of period.6 Preliminary estimates by Council of Economic Advisers.


Sources: Department of Commerce and Council of Economic Advisers.

227


TABLE B—17.—Financial saving by individuals, 1939—61l

[Billions of dollars!

Year or quarter

19391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961 10

1959: II II I II V

1960: IIII I IIV

1961- II IIIIIV i°. --

Total

4.24 2

10.529.338.741.4S7.314.16.52.82.2

.811.113.110.99.57.1

14.115.516.913.610 417.94.13.54.61 43.21.64.31.44.88 26.33.5

Cur-rencyand

bankde-

posits

3.02.94.8

10.916.217.519.010.62.0

- 1 . 8— 1.4

3.55.97.04.75.43.34.74.9

10.23.53 9

10.5.1. 3

2.74

- 2 . 1—. 23.22.91.61 73.83.5

Sav-ings

shares(2)

0.1.3.4.3.6.8

1.11.21.31.31.61.72.33.34.04.85.25.45.26.37.38 19.21.42.41.22 31.62.41.42.72.02 71.43.1

Securities

Total

- 0 . 8- . 42.6

10.314.115.79.9

- 1 . 42.43.12.4

.9

. 53.53.4

.46.45.24.61.3

11.11.41.12.72.43.13 02.6

- . 2. 6

- 1 . 5- 1 . 1

q

1.31.1

U.S.sav-ines

bonds

0.7.9

2.88.0

11.111.86.81.02.01.61.5

.2- . 5

. 1

.2

.6

. 3- . 1

- 1 . 9

- 1 . 8— 2

.8- . 2— .4

— 6

j

(")

. 1

. 2

. 1

Othergov-ern-

ment3

- 0 . 9- . 8

.42.33.24.64.2

- 2 . 4- . 3

.4

.2- . 1- . 41.32.0

- . 93.93.33.8

- . 712.0

- 1 . 02.62.73.33 52.7

—. 2. 1

- 2 . 0- 1 . 3- 1 . 8

1.1.9

Cor-Dorateand

other

- 0 . 6— 4- . 5(9)- . 3- . 7

- 1 . 2(9)

.71.1

.7

.71.42.21.2

.72.22.02.82.6

.91 21.3

.3

. 1

.31

.1

.2

.4(9)

1.4

Pri-vate

insur-ancere-

serves(4)

1.71.82.12.52.83.23.53.43.63.83.73.94.14.85.05.25.55.55.15.35.55 55.71.31.41.21 61.21.31.41.71.31.31.41.6

Non-in-

suredpen-sion

funds

0.1.1. 1.1.2.6.9. 3. 3.4.6.9

1.41.51.81.92.12.42.93.13.43 73.9

.9

. 8

.89

1.0.9

9.9

1 0.9.9

1.0

Gov-ern-

mentinsur-anceandpen-sionre-

serves'

1.31 31.92.63.95.05.13.63.53.62.31.14.24.43.22.63.13.63 2

. 62.33 31.9

.11 5.9

— 2.3

2. 11.0

- . 1- 21.5

.7- . 1

Less:

Mort-gagedebt«

0.58

. 8

. 1- . 4—.1

. 23.64.64.74.17.36.66.57.39.0

11.810.37 99.3

13.011 612.43.32 93.43 43.12.62 73.22 73.03.13.7

Increase indebt

Con-sumerdebt*

0.81 0

.7- 3 0- 1 . 0

. 1

. 52.32.82.42.63.61 04.43 61.06.13.12 5

. 26.33 71.0

- . 32.21,92 4

- . 52.0

.71.5

- 1 7.6.1

2.0

Secu-ritiesloans8

- 0 . 22

—. 136

1 41 5

- 2 . 3— 8

.43

.2— 3

. 649

. 6— 8_ i

4.23

.9- . 6

1

( \- 1 . 3

.1

. 8

.6— 1 0

9.1.9

1 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 tonds), State and local govern-

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

4 Includes insured pension reserves.«Includes Social Security funds, State and local retirement systems, etc.9 Mortgage debt to institutions on one- to four-family nohfarm 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 and dealers and others for the purpose of purchasing cr carrying securi-ties.

B Less than $50 million.io Preliminary.

NOTE.—Figures beginning 1957 have been revised since the Economic Report of the President, January1961.

In addition to the concept of saving shown above, there are other concepts of individuals' saving, withvarying degrees of coverage, currently in use. The personal saving estimates of the Department of Com-merce are derived as the difference between disposable personal income and expenditures. Conceptually,Commerce saving includes the following items not included in Securities and Exchange Commissionsaving: Housing, farm and unincorporated business investment in inventories and plant and equipment,net of depreciation, and increase in debt. Government insurance is excluded from the Commerce savingseries. For a reconciliation of the two series, see Securities and Exchange Commission Statistical Bulletin,July 1961, and Survey of Current Business, July 1961.

The flow-of-funds system of accounts of the Board of Governors of the Federal Reserve System includescapital investments as well as financial components of saving and covers saving of Federal, State, and localgovernments, businesses, financial institutions, and consumers. While the Federal Reserve's estimates ofconsumer saving in financial form are similar to the Securities and Exchange Commission estimates ofindividuals' saving, there are some statistical and conceptual differences in the two sets of data.

Revisions for 1955-61 in the consumer credit statistics of the Board of Governors of the Federal ReserveSystem have not yet been incorporated into these estimates.

Data for Alaska and Hawaii included for all periods.

Source: Securities and Exchange Commission.

228


TABLE B-18.—Sources and uses of gross saving, 1929—61


Year or quarter

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938_1939.

1940.1941.1942.1943.1944.

1945..1946.1947.19481949.

1950-1951.1952..1953-1954..

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

I960..19613

1959: I — .II . . .III..IV..

1960: I—.II . . .III..IV..

1961: I—.IT...III. .IV 3.

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

Total

16.7

11.94.9

.3

.62.6

6.47.2

12.17.39.0

13.918.810.55.12.3

4.530.636.845.933.0

48.555.348.347.047.6

62.471.370.258.071.8

76.54 73.6

Private saving

Total

15.7

12.27.72.01.95.0

8.410.111.58.9

11.2

14.622.641.949.354.2

44.326.523.637.636.1

40.349.252.254.154.4

59.666.169.269.574.0

74.6*79.9

Per-sonal

saving

4.2

3.42.5

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.4

22.925.7

Grossbusi-ness

saving

11.5

5.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.045.644.850.7

51.74 54.2

Government surplusor deficit (-)

Total

1.0

-2 .8-1 .7-1 .4-2.4

-2 .0-3 .0

.6-1 .6-2 .1

- . 7-3 .8

-31.4-44.2-51.9

-39.74.1

13.38.2

-3 .1

8.26.1

-3 .9-7 .1-6 .7

2.95.21.0

-11 . 4-2 .2

1.9

Fed-eral

1.2

-2 .1-1 .5-1 .3-2 .9

-2 .6-3 .5- . 2

-2.0-2 .2

-1 .4-5 .1

-33.2-46.7-54.6

-42.32.2

12.28.0

-2 .5

9.26.4g g

—7! 4- 5 . 8

3.85.72.0

- 9 . 4- 1 . 8

3.3- 3 . 6

Stateandlocal

=-0.1

- . 5- . 7- . 2

.5

.7

.4

.1

.71.31.82.52.7

2.61.91.1.3

- . 6

-1 .0- . 3

.1

.3

-1 .0- . 5

-1 .0-2.1- . 4

-1 .4±-2.7

Gross investment

Total

17.0

11.05.71.11.53.3

6.28.3

11.87.8

10.2

14.719.29.73.45.0

9.032.740.445.033.5

47.856.649.748.348.5

63.468.869.656.670.1

73.971.9

Grossprivatedomes-tic in-vest-ment

16.2

10.35.5

.91.42.9

6.38.4

11.76.79.3

13.218.1

9.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.4

72.469.5

Net for-eign in-vest-

ment '

0.8

. 7

.2

.2

.2

.4

- . 1- . 1

. 11.1

.9

1.51.1

- . 2-2 .2-2 .1

-1.44.68.91.9

.5

-2 .2. 2

- . 2-2 .0

- . 4

- . 41.53.5

- . 1-2 .3

1.52.4

Statis-ticaldis-

crep-ancy

0.3

-1 .0.8.8.9.7

- . 21.1

- . 2.5

1.2

.8

.4- . 8

-1 .72.8

4.52.13.5

- . 8.5

- . 71.21.41.3

1.0-2 .4- . 6

-1 .5-1 .7

-2 .6• -1 .7

69.176.869.371.7

80.378.275.972.0

66.173.175.6(5)

73.276.972.173.7

73.874.776.473.9

74.079.781.6(5)

23.924.822.322.3

21.822.824.622.7

23.725.826 826.6

Seasonally adjusted annua

49.352.149.751.4

52.051.951.751.2

50.453.954.8(5)

-4 .1—. 1

-2 .8-2.0

6.53.5

- . 5-1 .9

-7 .9-6.6-6.0

(5)

-2 .7.5

-2 .5-2 .4

6.54.51.4

.4

-5 .5-4 .3-3 .1

(5)

-1 .4- . 6- . 4

. 4

(2)-1 .0-1 .9-2 .3

-2 .4-2 .3-2 .9

(5)

1 rates

68.276.066.469.9

79.275.371.969.1

63.571.374.178.6

70.479.168.271.8

78.974.670.565.6

59.868.873.276.0

-2 .2-3 .1-1 .8-1 .9

. 2

.71.43.6

3.72.4

.92.5

-0 .9— 9

-2 .8-1 .8

-1 .1-2 .9-4 .0-2 .9

-2 .6-1 .8-1 .5

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

2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.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.5 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

229


EMPLOYMENT, WAGES, AND PRODUCTIVITY

TABLE B-19.—Noninstitutional population and the labor force, 1929-61

Year or month

Old definitions:1929 -

1930.1931 _1932.1933.1934.

1935.1936.1937.1938.1939.

1940_1941.1942.1943.1944.

19451946 -1947

New definitions:2

1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957-1958.1959.

1960Including Alaska and

Hawaii19601961

1960: January...February .MarchAprilMay -June _

JulyAugustSeptember..OctoberNovember.December-.

NTonin-stitu-tionalpopu-lation i

Totallaborforce

(includ-ing i

armed |forces) i

Armedforces i

Civilian labor force

Total

Employment2

TotalAgri-cul-

tural

Non-agri-cul-tural

Unem-ploy-

ment2

Totallabor

force aspercentof non-Institu-tionalpopu-lation

Thousands of persons 14 years of age and over

(3)

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

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

100,380101, 520102,610103,660104,630

105, 520106, 520107,608

107, 608108,632109, 773

110, 929112,075113, 270115,094116, 219

117,388118, 734120,445121, 950123,366

124, 878

125, 368127,852

124,606124,716124,839124,917125,033125,162

125,288125,499125,717125,936126,222126,482

49,440

50,08050,68051,25051, 84052,490

53,14053,74054,32054,95055,600

56,18057, 53060,38064,56066,040

65,29060,97061,758

61,75862,89863,721

64,74965,98366, 56067, 36267, 818

68, 89670, 38770, 74471,28471, 946

72, 820

73,12674,175

70,68970,97070,99372,33173,17175,499

75,21574,55173,67273,59273, 74673,079

260

260260250250260

270300320340370

5401,6203,9709,02011,410

11, 4303,4501,590

1,5901,4561,616

1,6503,0973,5943,5473,350

3,0482,8572,7972,6372,552

2,514

2,5142,572

2,5212,5212,5202,5122,5042,497

2,5092,4812,5172,5232,5332,530

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, 603

68,16868,44968,47369,81970,66773,002

72, 70672,07071,15571,06971,21370,549

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, 74860,78461, 03561,94560,890

62,94464,70865, 01163,96665, 581

66, 392

66, 68166, 796

64,02064,52064,26766,15967,20868,579

68,68968,28267, 76767,49067,18266,009

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

5,7235,463

4,6114,6194,5655,3935,8376,856

6,8856,4546,5886,2475,6664,950

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, 95861,333

59,40959,90159,70260, 76561,37161, 722

61, 80561,82861,17961,24461,51661,059

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 , "3,813

3,913

3,934,806

4,1493,9314,2063,6603,4594,423

4,013,7883,3883,5794,0314,540

Unem-ploy-ment

as per-cent of

civilianlaborforce

Percent

56.056.758.862.363.1

61.957.257.4

57.457.958.0

58.458.958.858.558.4

58.59.58.758.558.

58.3

58.58.0

56.756.956.957.958.560.3

60.059.58.658.458.457.8

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

5.66.7

6.15.76.15.24.96.1

5.55.34.85.05.76.4


230


TABLE B—19.—Noninstitutional population and the labor force, 1929-61—Continued

Year or month

Nonin-stitu-tionalpopu-lation i

Totallaborforce

(includ-ing

armedforces)

Armedforces

Civilian labor force

Total

Employment2

TotalAgri-cul-

tural

Non-agri-cul-

tural

Unem-ploy-

ment2

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent of

civilianlaborforce

Thousands of persons 14 years of age and over Percent

Including Alaska andHawaii1961: January

FebruaryMarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember _.

126,725126,918127,115127,337127, 558127,768

127,986128,183128, 372128, 570128,756128,941

72,36172,89473, 54073,21674,05976, 790

76,15375,61073,67074,34574,09673,372

2,5242, 5342,5292, 5202,5132,504

2,5142,5292,5472,5862, 7572,813

69,83770,36071,01170,69671, 54674,286

73,63973,08171,12371,75971,33970, 559

64,45264,65565, 51665,73466, 77868, 706

68,49968, 53967,03867,82467,34966,467

4,6344,7084,9775,0005,5446,671

6,4536,3255,6665.9645,1994,418

59,81859,94760.53960,73461,23462,035

62,04662,21561,37261,86062,14962,049

5,3855, 7O.e

5,4954,9624, 7685,580

5,1404,5414,0853,9343,99(14,091

57.157.457.957.558.160.1

59.559.057.457.957.556.9

7.78.17.77.06.77.5

7.06.25.75 55.65.8

Seasonally adjusted *

1960: January...February.MarchAprilMay _June

JulyAugustSeptember..OctoberNovember..December..

1961: January. _February.MarchAprilMay _June


69,77369,98969,58670, 52470, 52671,152

70, 72670, 79671,01370,57571,35671,118

71.48171,94372,16671,41071.40372.40471,63371, 78970,98171,26071.48271,128

66.13666,65365, 78066,96367,0O767,168

66,94866, 74767,03066,36267,04866,407

66. 58366, 79267,05866, 53266, 57867,293

66,76366,99866,30966,69067,215

5,6935,7385,2965,6775,4705,737

5,8555, 7996,05f5,6595,7995,824

5,7215,8485,7745,2635,1965,582

5,4875,6835,2085,4025.3215,198

60,25360,81360,36661,25561,61761, 599

61,19361,03560,99660,69761,21060,454

60,66760,86061,21261,22461,48061, 911

61,43261,41761,18861,30861,84061, 435

3,6643,3883,8123,6203, 5673,842

3 !\\ 1324,0374,414

i 819

4,7364,8914,9704,'"4,9234,946

4,9384,9574,8434,8314,3454,344

5.34.85.55.15.15.4

5.55.85.76.36.26.8

6.86.96.86.96.8

6.96.8

6.16.1

i 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.

a See Note.3 Not available.* Seasonally Adjusted totals may differ from the sum of components because totals and components have

been seasonally adjusted separately.NOTE.—Civilian labor force data beginning with March 1960 are based on a 333-area sample. For May

1956-February 1960 they are based on a 330-area sample; for January 1954-April 1956 they are based on a230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smaller sample; and for 1929-39 on sourcesother than direct enumeration.

Effective January 1957, persons on layoff with definite instructions to return to work within 30 daysof layoff and persons waiting to start new wage and salary jobs within the 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 continued 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.

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

Source: Department of Labor.

231


TABLE B-20.—Employment and unemployment, by age and sex, 1942-61

[Thousands of persons 14 years of age and over]

Year or month

Totalcivil-ian

laborforce

Old definitions:1

1942.1943.1944.

1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.

New definitions:1

1957.1958.1959.

1960 K.1961...

1960:January-.-February.MarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember

1961:January- --February..MarchAprilMayJune

JulyAugustSeptemberOctober...NovemberDecember

Totalem-

ployed

56,41055, 54054,630

53, 86057, 52060,16861,44262,105

63,09962,88462,96663, 81564,468

65, 84867, 530

67,94668, 64769, 394

70, 61271, 603

68,16868,44968,47369, 81970, 66773,002

72,70672,07071,15571,06971,21370, 549

69,83770,36071,01170,71,54674,286

73,63973,08171,12371,75971,33970,559

Employed

53, 75054,47053,960

52, 82055,25058,02759, 37858,710

59, 95761,00561,29362*21361,238

63,19364,979

65,01163,96665, 581

66, 68166, 796

64,02064,52064,26766,15967, 20868,579

68,28267, 76767,49067,18266,009

64,45264,65565,51065, 73466, 77868,706

68,49968,539G7,03867, 82467,34966,467

14-19

5, 770 20, 790350 17,55011,05015,160

6,05016,38011,28015,480

5,48015,83011,14015,5204,550:4,7174,8414,512

21,17023,409 ,23, 842 10,098 15, 67723,483 10,087 15,491

564 23, 833 10, 376,833

372 10,917

4,4,6144,5304,5144,285

4,4464,764

23,23,23,23,178 10, 730 16, 649

23,76811,00016,87824,051 11,271 17,294

5,033

6,827

5,0154,4, 729 24!4,, 522 23!

6,8774,"" '5,0384,4,

20-44 years

Male

15,666594 10,833 16,144

16,345715 10; 953 16, 725

4,719 23,99211,2474,51123,3744,789 23,952 11,080

24,064

23,73* 10,9444,064 23, 659 10, 82117,4,187.4,104 23,

4,' 808 24̂ 721

24,38011,23917,6,439 24,439 11,14817,

24,37611,49917,96124,25011

4,13'4,2374,3714,415 23,663 114,7616,373

92124,28011,050327 11,106

984 24,325 11,273293 11,649

953 24,13611,502816 11, 303829 23,

Fe-male

9,400 14,160

9,870 15,2809,82815,474

5,158 23,894 11,318 17,449

',12417,159

988 17,10817,482

11, 582 17, 6256,224 24, 410 11, 438 17,654

3, 606 10,3,957 11,420

07011,47917,679 11, 303

23,23,187 1123,329 11,42217,

,011,167

,355823 11,540243 11, 438

45 yearsand over

Male

17,24711,02817,036

17,316

11,282 17,478

,567,529,687

,68417, 420

17,18417,152

',34017,37717, 52017, 621

17,44617, 49517,52717, 68217, 62917, 400

Fe-male

3,6304,3604,770

4,8504,3804,6004,9245,138

5,5175,8196,1306,3066,395

7,1017,598

7,8,0158,443

8,8238,978

8,3508,4998,4638,7758,9688,854

8,6768,7309,1919,0539,2219,

8,8168,9149,0558,9219,1349,030

8,7998,736

9.1609,1309, i r

Totalu n e m -ployed

2,6601,070

670

1,0402,2702.1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,6813,813

3,9314,806

4,1493,9314,2063,6603,4594,423

4,0173,7883,3883, 5794,0314, 540

5,3855,7055,4954,9624,7685,580

5,1404,5424,0853,9343,9904,091

Unemployed

14-19years

510290200

190290425415595

543356362312515

471510

574757727

792921

63560769865876£

1,569

1,02080566566368"728

784809827778876

1,763

1,304958797736750669

20-44 years

Male

670180140

3301,200

920757

1,329

1,119515495512

1,158

854784

9361,7151,233

1,2761,549

1,4841,4021,5311,2671,0591,133

1,1931,1791,0351,0771,3101,648

2,0112,1031,9971,7131,5461,499

1,4661,4101,1661,1271,1801,375

Fe-male

520260170

270280303353559

552419344300617

502491

566850708

730911

723708675633656751

784747734737850772

9191,040

980931901965

931888892907819739

45 yearsand over

Male

770240110

200410396414719

697402345363684

606530

605965789

782969

934904923755680653

670710668727777989

1,2001,2601,1931,060

977831

917866808751827934

Fe-male

19010050

509099

127194

232190127116256

222239

254392356

348455

373308380346299316

348345285373412403

472491499480469521

521420424411383372

1 See Note, Table B-19 for explanation of differences between the old and new definitions.2 Beginning January I960, data for Alaska and Hawaii are included.NOTE.—Data are not available prior to 1942 for all the age/sex groups above.See Note, Table B-19 for information on area sample used and reporting periods.


232


TABLE B-21.—Employed persons not at work, by reason for not working, and special groups ofunemployed persons, 7946—61

[Thousands of persons 14 years of age and over]

Year or month

New definitions: 5

1946194719481949

19501951195219531954

19551956195719581959

1960 71961

1960: JanuaryFebruary.. .MarchAprilMayJune

JulyAugustSeptember.OctoberNovember .December..

1961: JanuaryFebruary . .MarchAprilMayJune

JulyAugustSeptember-OctoberNovember-December..

Employed persons not at work,by reason for not working

Total

2,1032,2692,4902,243

2,4402,4592,5552.5292,688

2,683

3,0173,0763.161

3,231"3,146

2,3432,7302,7912,2432,0863,772

7,2916,9242,6302,0631,9131,989

2,0452,1732,0442,0202,0263,839

7,3576,6042,9282,3542,1892,170

Badweather

)211197110

151111689673

103109139182115

168143

351302826328819

2329302638253

1942602131895675

172372

Indus-trial

dispute

959779

8557

1647353

61764559

160

4056

475057394858

3826346412

5340

2291664324

Vacation

662834

1,0441,044

1,1371,0731,1301,1711,361

1,2681,3461,4471,4791,494

1,5761,492

334398324868645

2,293

5,6925,2931,339815543374

337430407394641

2,178

5,5684,8051,336815585409

Illness

819847844719

718782775827776

835901962882907

1,1441,4661,121856873767

783842817810

979997942945902807

833831849927910858

Allother

reasons

()273308291

349436418362425

416456425474484

505556

466514464448431634

756736410348431420

515474471460399761

814928427441480505

Special groups of un-employed persons 2

Tempo-rary

layoff 3

97123141185

92117142167221

133124150166128

147149

133130112140146126

185200140150114188

206260210120137127

10218611310199130

New wageand salary

job <

5892

121101

116103117101127

117147110120134

119129

85957612079272

134154123

547110113596

311

1571771601029983

' Beginning 1957, includes persons waiting to open new businesses or start new farms within 30 days.2 Under the old definitions of employment and unemployment, these groups were included in the

"employed but not at work" category.3 Persons on layoff with definite instructions to return to work within 30 days of the layoff.4 Persons scheduled to start new wage and salary jobs within 30 days. Under the old definitions, the

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

5 See Note, Table B-19 for explanation.6 Not available.7 Beginning January 1960, data for Alaska and Hawaii are included.

NOTE.—See Note, Table B-19 for information on area sample used and reporting periods.


233


TABLE B-22.—Unemployed persons, by duration

Year or quarter

Old definitions: i

1946194719481949

19501951195219531954

1955 . _ .1956

New definitions: *

1957 . -19581959

I960* — —1961

1959- IIIHI -IV

I960: I* —IIIIIIV

1961" IIIIIII V

Total un-employed

of unemployment, 1946-61

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over 26weeks

Thousands of persons 14 years of age and over

2,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,6813,813

3,9314,806

4,6123,6663,4673,506

4,0953,8473,7314,050

5,5285,1034,5894,005

1,0411,0871,517

1,3071,003

925910

1,303

1,1381,214

1,4851,8331,658

1,7991,897

1,6091,6871,6261,712

1,6341,9571,7411,861

1,9972,0431,8311,724

704669

1,195

1,055574517482

1,115

815805

8901,3971,113

1,1761,375

1,542831

1,0621,021

1,432910

1,1711,190

1,9221,1881,3141,079

193427

425166148132495

367301

321785469

502728

684526311357

563545403499

903953544512

141164116256

3571378479

317

336232

239667571

454804

777623468417

467435416499

705919900691

r

Averagedurationof unem-ployment

(weeks)

(3)9.88.6

10.0

12.19.78.38.1

11.7

13.211.3

10.413.814.5

12.815.5

15.915.213.612.8

13.312.312.313.0

14.016.016.416.0

i See Note, Table B-19 for explanation of differences between the old and new definitions.» For duration of less than 6 months, data are available only for under 3 months (1,568,000) and 3 to 6

months (564,000).3 Not available.* Beginning January 1960, data for Alaska and Hawaii are included.

NOTE.—See Note, Table B-19 for information on area sample used and reporting periods.


234


TABLE B-23.—Unemployment insurance programs, selected data, 1940-61

Year or month

All programs

Cov-eredem-

ploy-ment1

Insuredunem-ploy-ment

(weeklyaver-lee} 2 3

Totalbenefits

paid(mil-lions

of dol-lars) 2

State programs

[nsuredunem-ploy-

ment3

Initialclaims

Ex-haus-tions 4

Insured unem-ployment as per-cent of covered

employment

Unad-justed

Season-ally ad-justed

Total(mil-

lions ofdollars)

(5)

Benefits paid

Aver-age

weeklycheck(dol-

lars) «

Thousands Weekly average,thousands Percent

1941-1942..1943-.1944..

1945-.1946..1947_.1948..1949..

1950..1951 ..1952..1953.1954..

1 9 5 5 -1956-1957-1 9 5 8 -1959-

1960—1961 7..

1960: JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptemberOctober. _.NovemberDecember


24,29128,13630,81932,41931,714

30, 08731, 85633, 87634,64633,098

34,30836,33437,00638,07236, 617

40,01442, 75843,44744, 50145, 727

46,334(8)

45,44645,40945,38946,24046, 47346,963

46,90047, 01747,01246, 60246,27046,282

44,75644,46744,873(8)

JulyAugustSeptemberOctoberNovemberDecember ?_—

1,331842661149111

7202,8041,8051,4682, 479

1,6051,0001,0691,0652,048

1,3951,3181,5673,2692,099

2,0672,996

2,3592,3262,3702,0781,8011,700

1,8261,8041,7811,8392,2252,847

3,5153,6383,4033,6263,2902,877

2,6782,3572,1222,0182,1722,533

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. 8

1, 569.21, 540. 61,913.04, 209. 22,803.0

3, 022. 74,358.0

264.4274.6314.6259.6223.0216.8

198.7229.7230.8214.9258.6332.4

436.4435.5500.9419.4457.2403.9

321.9333.5263.4255.3261.4286.1

1,282814649147105

5891,2951,0091,0021,979

1,503969

1,024995

1,865

1,2541,2121,4502,5091,682

1,9062,290

2,1802,1572,2091,9391,6821,588

1,6861,6571,5981,6782,0392,639

3,2663,3943,1682,7792,3281,991

1,9581,7441,5581,5021,6622,017

2141641223629

116189187210322

236208215218303

226226268370281

331350

386301301293264272

339306274332396494

541480372367297279

357271257277320395

16181534

2520235033

3146

293033353131

292827293136

444953585453

504438353435

5.63.02.2.5.4

2.14.33.13.06.2

4.62.82.92.85.2

3.53.23.66.44.4

4.85.6

5.65.55.74.94.34.0

4.34.24.04.25.1

8.18.47.86.85.74.9

4.84.33.83.74.15.0

4.84.24.54.84.24-4

175.15.45.76.86.4

6.16.86.85.95.65.8

5.85.26.15.15.14.8

518.7344.3344.179.662.4

445.91,094.9

775.1789.9

1.736.0

1.373.1840.4998.2962.2

2,026. 9

1,350.31,380. 71, 733. 93, 512. 72, 279.0

2, 726.73, 422. 7

235.2247.8287.1237.4204.9198.9

183.8206.3201.8189.9231.1300.2

397.6399.3461.5362.5320.1264.4

224.0237.2185.0180.9190.9218.5

10.5611.0612.6613.8415.90

18.7718.5017.8319.0320.48

20.7621.0922.7923.5824.93

25.0427.0228.1730.5830.41

32.8733.80

31.9032.2632.3932.5032.2432.33

32.3732.9933.5433.7334.0134.18

34.3434.4534.3734.1833.4632.92

32.9133.3633.1233.3033.6734.11

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 beginning June 1958.

3 Covered workers who have completed at least 1 week of unemployment. ^4 Individuals receiving final payments in benefit year.8 Includes benefits paid under extended duration provisions of State laws, beginning June 1958.• For total unemployment only.* Preliminary.s March 1961 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.

235621876 O - 6 2 - 1 6


T A B L E B-24.—Number of wage and salary workers in nonagr{cultural establishments•, 1929-61l

[Thousands of employees]

Year or month

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 3.

1959: JanuaryFebruary..MarchAprilMayJune

July -.AugustSeptember-October...-November -December.

Totalwageand

salarywork-

ers

31,339

29,42426,64923,62823,71125,953

27,05329,08231,02629,20930,618

32,37636, 55440,12542,45241,883

40,39441,67443,88144,89143,778

45, 22247,84948,82550,23249, 022

50, 67552, 40852, 90451, 42353,380

54,34754,076

Manufacturing

Total

10,702

9,5628,1706,9317,3978,501

9,82710, 7949,44010,278

10,98513,19215,28017,60217,328

15, 52414,70315,54515,58214,441

15,24116,39316, 63217, 54916, 314

16,88217, 24317,17415,94516, 667

16, 76216,268

Dura-ble

goods

()4,715

5,3636,9688,82311,08410,856

9,0747,7428,3858,3267,489

8,0949,0899,34910,1109,129

9,5419,8349,8568,8309,369

9,4419,044

Non-dura-ble

goods

()5,564

5,6226,2256,4586,5186,472

6,4506,9627,1597,2566,953

7,1477,3047,2847,4387,185

7,3407,4097,3197,1167,298

7,3217,224

Min-ing

1,087

1,009873731744883

897946

1,015891854

925957992925892

955994930

901929

791

792822828751731

709667

Con-tractcon-

struc-tion

1,497

1,3721,214970809862

9121,1451,1121,0551,150

1,2941,7902,1701,5671,094

1,1321,6611,9822,1692,165

2,3332,6032,6342,6232,612

2,8022,9992,9232,7782,955

2,8822,760

Trans-porta-tionand

publicutili-ties

3,916

3,6853,2542,8162,6722,750

2,7862,9733,1342,8632,936

3,0383,2743,4603,6473,829

3,9064,0614,1664,1894,001

4,0344,2264,2484,2904,084

4,1414,2444,2413,9764,010

4,0173,923

Whole-saleand

retailtrade

6,123

5,7975,2844,6834,7555,281

5,4315,8096,2656,1796,426

6,7507,2107,118

7,058

7,3148,3768,9559,2729,264

9,3869,74210, 00410,24710,235

10, 53510,85810,88610, 75011,125

11,41211,365

Finance,insur-ance,andreal

estate

1,509

1,4751,407,341,295,319

,335,388,432,425,462

,502,549,538,502,476

,497,697,754,829

1,857

1,9191,9912,0692,1462,234

2,3352,4292,4772,5192,597

2,6842,748

iceand

miscel-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

6,2746,5366,7496,8117,105

7,3617,514

Seasonally adjusted

Gov-ern-ment(Fed-eral,State,and

local)

52,44652,61252, 84353,32853, 60653, 779

53,87953,35753,41353,35353, 62254,116

16,29416,40016, 60116, 74416,89116,996

17,03616, 53416,55616,44416, 60016,907

9,0979,1849,3459,4829,6019,667

9,6969,1829,2089,1269,2689,569

7,1977,2167,2567,2627,2907,329

7,3407,3527,3487,3187,3327,338

751744747749758756

766693677682722726

2,9142,8962,9112,9882,9812,992

2,9822,9892,9542,9302,9202,982

3,9903,9974,0074,0134,0324,035

4,0344,0074,0053,9893,9974,015

10,89510,94110,87711, 06811,12711,152

11,17311,22211,19811,21611,22811,259

2,5542,5572,5692,5782,5862,593

2,6042,6062,6182,6252,6282,636

6,9626,9947,0237,0657,0887,104

7,1137,1327,1537,1787,2017,232

3,065

3,1483,2643,2253,1663,299

3,4813,6683,7563,8833,995

4,2024,6605,4836,0806,043

5,9445,5955,4745,6505,856

6,0266,3896,6096,6456,751

6,9147,2777,6267,8938,190

8,5208,831

8,1088,1238,1438,151

8,1718,1748,2528,2898,3268,359


236


TABLE B-24.—Number of wage and salary workers in nonagricultural establishments, 1929-67 !—Continued

[Thousands of employees]

Year or month

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-

blegoods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionand

publicutili-ties

Whole-saleand

retailtrade

Fi-nance,insur-ance,andreal

estate

Serv-iceand

miscel-lane-ous

Gov-ern-

ment(Fed-eral,

State,and

local)

Seasonally adjusted

1960: JanuaryFebruary. . .MarchAprilMayJune

JulyAugustSeptember..OctoberNovember..December. _

1961 JanuaryFebruaryMarchAprilMayJune - .

JulyAugustSeptember..OctoberNovember 3.December 3.

54,21154,44554,42754,70254, 58454, 538

54, 51454,40354,30154,19053, 99553, 707

53, 58153, 48553, 56153,66353,89454,182

54,33554, 33354,30454, 38554, 51754, 491

16, 98817, 06317, 05417, 03716, 98516, 901

16, 81316, 70116,61916,48916,35116,174

16, 02115, 96216, 02316,11916, 27516, 373

16, 39216, 38116, 32316. 36116, 46916, 521

9,6599,7199,6839,6529,6089,526

9,4519,3779, 3229,2089,1118,988

8,8638,7978,8208,9049,0589,114

9,1389,1319,1059,1129,2219,265

7,3297,3447,3717,3857,3777,375

7,3627,3247,2977,2817,2407,186

7,1587,1657,2037,2157,2177,259

7,2547,2507,2187,2497,2487,256

716723722729725717

698706700698693679

672667668666670669

672665666661666660

2,9222,9742,7592,9012,9212,912

2,9282,9022,8792,8772,8322,757

2,7732,7652,7922,7662,7422,795

2,7762,7702,7542,7582,7202,703

4,0224,0344,0394,0544,0404,039

4,0314,0224,0083,9913,9763,950

3,9313,9223,9193,9013,9033,914

3,9423,9393,9393,9293,9263,908

11,31511, 35511, 35611,43911,44211, 436

11,46511,45511,42211,42311. 37111,334

11,34711,29611,25211, 32011,35511, 392

11, 43711,41011,36311,36511,36811,339

2,6412,6552,6612,6662,6702,679

2,6852,6962,7042,7072,7192,723

2,7272,7312,7322,7322,7392,747

2,7482,7572,7562,7642,7702,772

7,2567,2877,2877,3077,3267,357

7,3987,4027,4007,4157,4317,447

7,4397,4607,4637,4257,4367,471

7, 5337,5467,5677,5807,6037,621

8,3518,3548,5498,5698,4758,497

8,4968,5198,5698,5908,6228,643

8,6718,6828,7128,7348,7748,821

8,8358,8658,9368,9678,9958,967

1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of tve pay period ending nearest tbe 15th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagricultural employment of the civilian labor force (Table B-19) 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.—Series revised to conform to 1957 Standard Industrial Classification and March 1959 benchmarkdata. For further details, see Employment and Earnings, Annual Supplement Issue, November 1961.

Data for Alaska and Hawaii included beginning January 1959.


237


TABLE B-25.—Average weekly hours of work in selected industries, 1929-61

Year or month

Manufacturing

Total Durablegoods

Nondurablegoods

Con-tractcon-

struc-tion

Retailtrade

(excepteating

anddrink-

ingplaces)

Whole-sale

trade

Bitumi-nouscoal

mining

Class Irail-

roads *

Tele-phonecom-

muni-cation3

192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961 s

1960: JanuaryFebruary. . .MarchApril „ .May —JuneJuly.AugustSeptember-.OctoberNovember..December...

1961: JanuaryFebruary.. .March.April ._.MayJuneJulyAugustSeptember..OctoberNovember 5.December 5.

44.2

42.140.538.338.134.636.639.238.635.637.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539.6

40.740.439.839.240.339.7

40.440.139.939.840.139.939.939.639.439.539.338.5

39.039.339.339.739.839.940.040.039.640.240.640.3

()32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.2

()41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.3

()38.238.137.737.438.138.937.937.237.137.537.036.837.036.737.0

()43.4

43.242.841.840.941.040.941.341.040.941.041.140.940.539.839.739.639.138.738.738.738.538.1

41.642.943.142.341.841.341.141.442.343.0

42.841.641.141.040.840.740.840.740.640.540.740.540.340.240.640.540.4

38.133.328.127.029.326.826.228.527.723.326.827.830.732.436.343.0

42.041.340.337.732.334.734.933.834.132.337.337.536.333.335.835.835.7

()43.7

44.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.641.941.742.1

Seasonally adjusted Unadjusted40.940.640.440.240.440.240.240.039.839.939.739.039.339.639.740.040.240.440.540.539.840.641.241.0

39.639.439.339.339.739.539.539.138.938.938.738.138.738.839.139.339.339.539.539.339.239.639.739.7

36.436.935.937.036.536.737.236.837.037.236.834.837.538.136.935.736.336.836.937.136.737.237.5(3)

38.538.538.438.738.538.538.438.538.438.438.538.238.338.438.238.238.338.138.237.938.038.037.9

40.440.140.240.340.440.640.840.640.640.640.540.440.340.140.240.340.340.640.740.640.540.640.6

)

37.736.237.836.235.536.636.534.934.134.933.434.835.334.731.432.934.737.038.036.836.837.937.7

41.042.742.941.641.742.841.042.640.640.940.541.941.142.642.240.443.043.041.643.241.942.1

()38.838.939.139.540.140.541.942.3

*41.739.437.439.238.538.939.138.538.738.939.639.539.038.439.239.639.3

39.239.138.939.239.439.839.540.840.040.439.539.039.138.838.738.939.239.639.540.340.139.4

1 Based upon data summarized in the M-300 report by the Interstate Commerce Commission. Hoursand earnings data relate to all employees who received pay during the month, except executives, officials,and staff assistants.

2 Prior to April 1945, data relate to all employees except executives.3 Not available.4 Nine-month average, April through December, because of new series started in April 1945.6 Preliminary.NOTE.—Series revised; see Note, Table B-24.Data are for production workers in manufacturing and mining, construction workers in contract

construction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod ending nearest the 15th of the month.

The annual figures for 1961 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on employment.

See Table B-28 for unadjusted average weekly hours in manufacturing.Data for Alaska and Hawaii included beginning January 1959.Source: Department of Labor.

238


TABLE B-26.—Average gross hourly earnings in selected industries, 1929-61

Year or month

Manufacturing

TotalDura-

blegoods

Non-dura-ble

goods

Con-tractcon-

struc-tion

Retailtrade

(excepteatingand

drinkingplaces)

Whole-sale

trade

Bitu-minous

coalmining

Class Irail-

roads 1

Tele-phonecom-

munica-tion 2

Agri-cul-

ture 3

192919301931193219331934193519361937193819391940_.194119421943—194419451946194719481949195019511952195319541955195619571958195919601961 *1960: January

FebruaryMarch.AprilMayJuneJulyAugustSeptember-OctoberNovember-December--.

1961: JanuaryFebruaryMarchAprilMayJune __.JulyAugustSeptember-OctoberNovember 6-December 6_.

$0.560.546.509.441.437.526.544.550.617.620.627.655.726.851.957

1.011.016.075.217.328378

.440

.56

.651.741.781.861.952.052.112.192.262.32

2.262.262.262.252.262.262.262.252.272.272.272.292.292.292.292.312.322.322.332.312.332.342.362.37

()$0.492

.467

.550

.571

.580

.667

.679

.691

.716

.799

.9371.0481.105

1.0991.1441.2781.3951.453

1.5191.651.751.861.901.992.082.192.262.36

2.432.49

2.432.432.432.412.422.42

2.422.412.442.432.432.46

2.452.452.462.472.482.49

2.492.482.502.512.532.54

(4)$0.412

.419

.505

.520

.519

.566

.572

.571

.590

.627

.709

.787

.844

.886

.9951.1451.2501.295

1.3471.441.511.681.62

1.671.771.851.911.98

2.052.11

2.022.032.032.042.042.05

2.062.042.062.062.072.092.092.092.092.102.112.112.122.102.122.132.132.14

()(4)

(4)

()$1. 5411.7131.7921.8632.022.132.282.39

2.452.572.712.822.93

3.073.18

3.033.043.103.013.023.02

3.063.073.103.123.103.16

3.173.163.143.153.163.16

3.163.173.223.223.24

()$0. 484

.494

.518

.559

.606

.653

.699

.797

.901

.9721.0151.0501.131.181.251.291.341.401.471.521.57

1.621.68

1.611.611.611.621.631.63

1.631.631.641.641.641.61

1.661.651.651.671.681.69

1.691.691.701.711.71

$0.610.628.658.674.688

.711

.763

.828

.898

.948

.990107

,220308.360.427.521.611.701.76

1.831.942.022.092.19

2.252.31

2.222.222.242.242.252.26

2.262.242.252.252.252.26

2.282.282.282.302.302.32

2.322.312.342.332.33

$0.659.662.626.503.485.651

.720

.768

.828

.849

.858

.854

.9601.0301.1011.1471.1991.3571.5821.8351.8771.9442.142.222.402.402.472.722.922.933.123.153.143.173.153.153.163.173.193.143.163.133.143.113.123.143.123.103.123.123.173.173.143.153.133.13

$0. 730.733.743.837.852.948.955.087.186.301,427,572

3,831.881.931.962.122.262.442.542.612.672.602.612.562.582.582.582.622.592.642.652.642.652.652.702.642.682.652.662.682.652.692.67

(0(4)

()$0. 774

.816

.822

.827

.820

.843

.870

.911

s.9621.1241.1971.2481.345

1.3981.491.591.681.76

1.821.861.952.052.18

2.262.36

2.222.232.242.222.242.24

2.262.262.342.302.302.322.322.322.322.332.342.352.362.372.422.412.42

$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

.751

.812

."§20

.909

."757

.825

."§43

1 For coverage of series, see footnote 1, Table B-25.2 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 Weighted average of all farm wage rates on a per hour basis.4 Not available.8 Nine-month average, April through December, because of new series started in April 1945.6 Preliminary.NOTE.—Series revised; see Note, Table B-24.Data are for production workers in manufacturing and mining, construction workers in contract con-

struction, and for all nonsupervisory employees in other industries (except as noted). Data are for payperiod ending nearest the 15th of the month.

The annual figures for 1961 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on man-hours.

Data for Alaska and Hawaii included beginning January 1959.Sources: Department of Labor and Department of Agriculture.

239


TABLE B—27.—Average gross weekly earnings in selected industries, 7929-67

Year or month

1929.... - . .1930....1931....1932....19331934 -19351936....19371938....19391940....194119421943194419451946194719481949...-1950.... .1951 --19521953 -195419551956195719581959 ---19601961 5

1960: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember. . .OctoberNovember . . .December

1961: JanuaryFebruaryMarchApril.MayJ u n e . . .JulyAugustSeptember. .OctoberNovember 5_December 5

Manufacturing

Total

$24. 7623.0020.6416.8916.6518.2019.9121.5623.8222.0723.6424.9629.4836.6843.0745.7044.2043.3249.1753.1253.8858.3263.3467.1670.4770.4975.7078.7881.5982.7188.2689.7292.3491.0889.9589.7288.6590.4090.6390.1789.5589.8990.1289.2188.6289.0889.3189.5490.7892.1093.0393.2092.8692.7394.5495.8295.99

Dura-ble

goods

$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

100.1099.3997.9397.6996.4097.7797.7796.8096.4097.6097.6996.2396.19P6.2996.2997.1798.3199.70

101. 09100.100. 44100.00102.66103.98104. 39

Non-durablegoods

$22. 4721.4020.0917.2616.7617.7318.7719.5721.1720.6521.3621.8324.3928.5733.4536.3837.4840.3046.0349.5050.3853.4856.8859.9562.5763.1866.6370.0972.5274.1178.6180.3682.9279.5979.3778.9778.9580.3881.1881.7880.7880.7580. 5580.5279.8480.4780.4780.8881.2782.2983.5684.1683. 5883.7484.7784.9985.1

Con-tractcon-

struc-tion

()$58. 8765.2767.5669.6876.9682.8686.4188.9190.9096.38

100. 27103. 78108. 41112. 67117.66106.96106. 40107. 88111.67111.74113. 55116.89117.27116.87119.18110.98108.07115. 39114.08112. 41112. 77116. 29119.13

119. 76122.05120. 43123.00118. 26

Retailtrade

(excepteatin?and

drink-ing

places)

()$21. 0121.3422.1723.3724.7926.7728.5932.9236.9439.7541.6243.1646.2247.7949.7551.2153.0654.7456.8958.8260.7662.3764.01

61.6661.5061.5062.3762.2763.2463.7363.9062.9862.6562.4861.8263.2562.8^62.7063.4663.8464.9065.5765.2364.6064.6464.13

Whole-sale

trade

()$26. 7525.1925.4425.3826.9628.3628.5128.7629.3631.3634.2837.9940.7642.3746.0550.1453.6355.4958.0862.0265.5369.0271.2874.4878.5781.4184.0288.9191.1393.32

89.6989.0290.0590.2790.9091.7692.2190.9491.3591.3591.1391.3091.8891.4391.6692.6992.6994.1994.4293.7994.7794.6094.60

Bitumi-nouscoal

mining

$25.1122.0417. 3913.5814.2117.4518.8621.8922.9419.7822.9923.7429.4733.3739.9749.3250.3656.0463.7569.1860.6367.4674.6975.0481.8477.5292.13102. 00106. 0097.57111. 70112. 77112.10

119. 51114. 03119. 07114. 39112. 54116. 75114.61110.28106. 73109. 59103. 87108. 58110. 84108. 2697.34102. 65108. 26117. 29120. 46115. 5,115. 92118. 63118. 00

Class Trail-

roads 1

$31. 9032.4734.0339.3441.4946.3646.3250.0055.0360.1162.3664.1470.9374.3076.3378.7482.1288.4094.24

101. 50106. 43108. 84112. 41106.60111.45109. 82107. 33107. 59110.42107. 42110. 33107.18108.39106.92111.04108. 92115.02111.41108. 27113.95114.38111.49114. 48112. 71112.41

Tele-phonecom-mu-nica-tion2

$30.0331.7432.1432.6732.8834.1436.4538.54

4 40.1244.2944.7748.9251.7854.3858.2661.2265.0268.4672.0773.4776.0578.7285.4689.5092.7586.1487.4287.5886.3687.8188.2689.9589.2795.4792.0092.9291.6490.4890.7190.0290.1791.0392.1293.4693.6297.5396.6495.35

1 For coverage of series, see footnote 1, Table B-25.2 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.* Nine-month average, April through December, because of new series started in April 1945.8 Preliminary.

NOTE.—Series revised; see Note, Table B-24.Data are for production workers in manufacturing and mining, construction workers in contract construc-

tion, and for nonsupervisory employees in other industries (except as noted). Data are for pay periodending nearest the 15th of the month.

The annual figures for 1961 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on man-hours.

Data for Alaska and Hawaii included beginning January 1959.


24O


T A B L E B-28.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-67

Year or month

All manufacturing industries

Averageweeklyhours

Gross

Ex-;lud-

over-time

Average hourlyearnings

Ex-clud-ing

over-time

Exclud-ing

over-timeand

inter-indus-try shift(1947-

49=100)

Durable goods manufac-turing industries

Averageweeklyhours

Gross

Ex-clud-ing

over-time

Averagehourly

earnings

Gross

Ex-clud-ing

over-time

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

Ex-clud-ing

over-time

Averagehourly

earnings

Gross

Ex-;lud-ing

over-time

1939..

19401941194219431944

19451946 --194719481949 -

19501951.195219531954

195519561957195*8...1959

1960 -1961 *1960: January

February. __MarchAprilMayJune


1961: JanuaryFebruary.._MarchAprilMayJune

JulyAugustSeptember-OctoberNovember4.December *.

37.7

38.140.643.145.045.2

43.540.340.440.039.1

40.540.640.40.539.6

40.40.439.839.240.3

39.739.8

40.339.839.739.40.040.139.39.839.639.39.338.

38.939.039.39.339.740.

40.40.39.40.40. €40.

0)0)0)0)0)0)0)0)0)0)0)0)(00)0)0)(037.637.537.237.637.337.

37.537.237.237.237.537.6

37.37.237.36.6

37.37.37.37.37.37.

37.37.37.37.37.37.

$0. 627

.655

. 726 $0.

.851

.9571.011

1.0161.0751.211.3281.378

1.4401.561.651.741.78

1.861.952.052.112.19

2.262.32

2.262.262.262.252.262.26

2.252.272.272.272.29

2.292.292.292.312.322.32

2.332.312.332.342.362.37

0)0)).691.793.881.933

3.9491.0351.181.291.34

1.391.511.591.681.73

1.791.891.992.052.12

2.202.252.192.192.192.192.192.19

2.192.182.202.202.212.23

2.242.232.242.252.252.25

2.262.242.252.262.282.29

51.6

0)2 53.52 60.22 65.52 70.1

2 72.92 80.8

92.7101.3106.0

109.3118.0124.1130.135.2

139.3146.8154.3160.166.

171.6176.2

169.8170.0170.170.171.0171.7

171.7171.172.0172.5173.1174.3

175.0174.9175.3175.8176.3176.2

176.4175.9176.4177.3178.20)

37.9

39.242.045.046.546.5

44.040.440.540.439.4

41.141.541.541.240.1

41.341.040.339.40.7

40.140.2

40.940.340.40.040.440.4

40.040.040.040.39.39.

39.39.39.39.40.40.

40.40.40.40.41.141.1

0)0)0)0)0)0)0)0)0)0)0)0)0)(00)0)(038.037.37.638.037.737.9

38.037.637.737.938.038.0

37.37.637.537.737.537.1

37.537.537.37.838.138.3

38.038.037.338.238.238.2

$0. 691

.716

. 799 $0. 762

.9371.0481.105

1.0991.1441.2781.3951.453

1.5191.651.751.861.90

1.992.082.192.262.36

2.432.49

2.432.432.432.412.422.42

2.422.412.442.432.432.46

2.452.452.46

2.49

2.492.482.502.512.532.54

.872

.9661.019

1.0311.1111.241.351.42

1.461.591.681.791.84

1.912.012.122.212.28

2.362.42

2.352.352.362.352.352.35

2.352.342.362.362.372.40

2.392.392.402.412.422.42

2.422.412.412.432.452.46

37.4

37.038.940.342.43.1

42.340.540.239.638.9

39.739.539.39.639.0

39.939.639.238.839.

39.39.3

39.439.138.938.39.439.6

39.39.639.239.138.938.2

38.538.538.738.739.039.6

39.739.839.539.839.939.8

0)0)0)0)0)0)0)0)0)(00)(00)(00)0)0)37.237.036.637.036.736.8

36.836.636.436.436.937.0

37.137.036.636.636.636.0

36.436.36.536.536.737.0

37.137.036.636.937.137.1

$0. 571

.590627 $0. 613

.709

.787

.844

1.1451.2501.295

1.34:1.441.511.581.62

1.671.771.851.91

2.05

2.022.032.032.042.042.05

2.042.062.062.072.09

2.092 092 092.102.112.11

2.122.102.122.132.132.14

.684

.748

.798

3.841.962

1.111.211.26

1.311.401.461.531.58

1.621.721.801.861.91

1.992.05

1.961.961.971.981.981.98

1.991.981.992.002.012.03

2.042.032.042.052.052.04

2.052.032.052.062.062.07

1 Not available.2 April used. Annual average not available.a Eleven-month average; August 1945 excluded because of VJ Day holiday period.«Preliminary.

NOTE.—Series revised; see Note, Table B-24.Data relate to production workers and are for pay period ending nearest the 15th of the month.The annual figures for 1961 are simple arithmetic averages of the monthly figures shown and are not

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

See Table B-25 for seasonally adjusted average gross weekly hours.Data for Alaska and Hawaii included beginning January 1959.


241


T A B L E B—29.—Average weekly earnings, gross and spendable, in manufacturing industries,in current and 7967 prices, 7939-67

Year or month

1939

19401941194219431944 - - -

19451946 _ . .19471948]949

1950195119521953. . .1954

1955195619571958 _. __1959

I960 - -19613

I960' J anuaryFebruary . _ _MarchApril r ~ .M a yJune

JulyAugustSeptember .OctoberNovemberDecember

1961: January -FebruaryMarchAprilMay,June -

JulyAugustSeptemberOctoberNovember3

December3

Average gross weeklyearnings

Currentprices

$23.64

24.9629.4836.6843.0745.70

44.2043.3249.1753.1253.88

58.3263.3467.1670.4770.49

75.7078.7881.5982.7188.26

89.7292.34

91.0889. 9589.7288.6590.4090.63

90.1789.5589.8990.1289.2188.62

89.0889.3189.5490.7892.1093.03

93.2092.8692.7394.5495.8295.99

1961prices l

$50.84

53.2259.9267.3074.3977.72

73.4266.3465.8266.0767.60

72.5472.8975.6378.7478.50

84.4986.6786.7185.6290.52

90.6392.34

92.8491.5191.1889.8291.5091.55

90.9990.3690.6190.4889.4888.80

89.3589.4989.7290.9692.3893.22

93.0192.6792.3694.0795.44

Average spendable weekly earnings 2

Worker with nodependents

Currentprices

$23.37

24.4627.9631.8035.9537.99

36.8237.3142.1046.5747.21

50.2652.9755.0457.5958.45

62.5164.9266.9367.8271.89

72.5774.60

73.6272.7572.5771.7573.1073.28

72.9272.4472.7172.8872.1871.72

72.0872.2672.4373.3974.4175.15

75.2975.0174.9176.3677.3977.52

1961prices 1

$50.26

52.1556.8358.3562.0964. 61

61.1657.1456.3657.9259.23

62. 5160.9661.9864.3565.09

69.7771.4271.1370.2173.73

73.3074.60

75.0574.0173.7572.7073.9974.02

73.5873.1073.3073.1772.4071.86

72.3072.4072.5873.5474.6375.30

75.1474.8674.6175.9877.08

Worker with threedependents

Currentprices

$23.40

24.7129.1936.3141.3343.76

42.5942.7947.5852.3152.95

56.3660.1862. 9865.6065.65

69.7972.2574.3175.2379.40

80.1182.18

81.1880.2980.1179.2680.6580.83

80.4679.9780.2480.4279.7179.24

79.6079.7879.9780.9581.9982.74

82.8882.6182.5083.9885.0385.17

1961prices *

$50.32

52.6959.3366 6271.3874.42

70.7565 5363.6965 0666 44

70 1069.2570 9273.3073.11

77.8979 4878 9777.8881.44

80.9282.18

82.7581.6881.4180.3081.6381.65

81.1980.7080.8980.7479.9579.40

79.8479.9480.1381.1182.2482.91

82.7182.4582.1783.5684.69

1 Estimates in current prices divided by the consumer price index on a 1961 base (using 11-month average).2 Average gross weekly earnings less social security and income taxes.3 Preliminary.* Not available.NOTE.—Series revised; see Note, Table B-24.Data relate to production workers and are for pay period ending nearest the 15th of the month.The annual figures for 1961 are simple arithmetic averages of the monthly figures shown and are not

strictly comparable with the averages for earlier years, which have been weighted by data on man-hours.Data for Alaska and Hawaii included beginning January 1959.Source: Department of Labor.

242


T A B L E B—30.—Labor turnover rates in manufacturing industries, 1930—61[Rates per 100 employees]

Year or month

1930 -1931193219331934

1935... _ .1936193719381939 . .

19401941.. . .194219431944 _ _-

19451946 - - -19471948 _1949

19501951 m195219531954

1955 _..1956195719581959

I960 ---1961* -

I960' JanuaryFebruary. . .MarchApril - -MayJune

July .

September. - -OctoberNovember

1961* JanuaryFebruary. __ -March. . .April- .*MayJune

JulyAugust . . .

October -_ _November 8.— -_ __

Accession rates

Total i

3.83.74.16.55.7

5.15.34.34.75.0

5.46.59.39.17.4

7.78.16.25.44.3

5.35.35.44 83.6

4.54.23.63.64.2

3.84.2

4.34.13.83.73.93.7

3.63.83.73.63.53.3

4.03.84.64.44.23.9

4.04.13.74.44.0

New hires

(3)(3)

(3)

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

(3)(3)

(3)(3)(3)

(3)4.14.13 61.9

3.02.82.21.72.6

2.22.2

Total 2

5.94.85.24.54.9

4.34.05.24.83.7

4.04.77.88.68.1

9.67.25.75.45.0

4.15.34.95 14.1

3.94.24.24.14.1

4.34.0

Separation rates

Quits

1 9

1

1911

13580

1.12.44.66.36.2

6.15.24.13.41.9

2.32.92.82 81.4

1.91.91.61.11.5

1.31.2

Seasonally adjusted

2.62.62.42.22.42.2

2.12.22.11.91.91.8

1.81.71.92.02.12.1

2.22.32.22.52.4

3.64.14.34.34.24.5

4.64.44.34.24.34.9

4.74.54.23.53.84.0

4.33.84.13.63.8

1.51.61.51.41.41.4

1.31.31.31.21.1.

1.1.1.1.01.21.2

1.11.21.31.31.3

Layoffs

3.63.54.23.23.7

3 02.43.53.92.6

2.61.61.3.7.7

2.61.41.11.62.9

1.31.41.41 62.3

1.51.72.12.62.0

2.42.2

1.61.92.22.22.22.6

2.62.72.62.32.62.9

2.92.92.31.92.02.2

2.51.92.21.71.8

1 Includes rehires and other accessions, not published separately.2 Includes discharges and miscellaneous separations, not published separately. (Prior to 1940 quits

include miscellaneous separations.)3 Not available.* January-November average.5 Preliminary.NOTE.—Series revised; see Note, Table B-24.Beginning January 1943, data relate to all employees; previously to production workers only.Beginning January 1959, transfers between establishments of the same firm are included in total accessions

and total separations, therefore rates for these items are not strictly comparable with prior data.Data for Alaska and Hawaii included beginning January 1959.Source: Department of Labor.

243


TABLE B-31.—Indexes of output per man-hour and related data, 1947-61

[1947-49 = 100]

Year

194719481949

19501951195219531954

19551936195719581959

191019J1 3____

194719481949

19501951195219531954

19551956195719581959

19601961 3____

Output per man-hour

Totalpri-vate

96.7100.2103.1

110.4113.1115.5120.2122.3

127.6127 9132. 4135. 5140.3

143.3148. 2

97.4100.3102.2

110.3115.2118.9123.9127.0

133.1133.6138. 0140.0145. 9

148.3152.3

Agri-cul-ture

90.5107.1102. 2

116.2114.5124.5138.6148.3

153.5156.4166.7181.6181.1

191.3205.6

90.6107.5101.6

116.1114.1124.0138.0147.9

152.9155.8167.0182.2181.4

191.9206.7

Nonagriculturalindustries

Total

97.599.4

103.2

108.7110.5111.9114.9116.7

121.6121.1124.7126.8131.4

133.7137.6

98.499.4

102.4

108.5112.8115.5119.0121.8

127.5127.2130.3131.4136. 9

138. 6141.3

Man-ufac-tur-ing

97.5100. 2102.5

109.2111.2112.8118.1117.1

125.3126.5126.8129.1138.7

141.9146.5

(5)

(5)

( 5 )

(5)

(5)

(5)

(5)

( 5 )

(5)

0)( )(5)(5)

( • )

Non-man-ufac-tur-ing

97.298 9

103.8

108.4109.9111.3112.7116.5

119.7118.4123.7126.3128.1

130.2137.6

(5)

(5)(5)

(5)

( 5 )(5)

( 5 )

( 5 )

( 5 )( 5 )(5)

(5)

( 5 )

(5)

<•>

Totalpri-vate

Output

Agri-cul-ture

Nong

I

igriculturalindustries

Total

Establishment

97.5101.5100.9

110.2116.9120.4126.3124.3

135.4138.3141.0138.2148.2

152.6155.2

97. 5101.5100.9

110.2116. 9120.4126.3124. 3

135.4138. 3141.0138.2148.2

152.6155.2

92.9106.0100.5

106.099.5

103.3107.1111.5

117.6114.8113.2114.8114.3

119.2120.3

97.9101.2101.0

110.5118.1121.6127.7125.2

136.7140.0143.1139 9150.7

155.0157.7

Man-ufac-tur-ing

, basis

100.9103.096.0

111.1121.8125.5138.1125.1

141.3145.0143.0133.7153.0

156.0156.6

Labor force basis i

92.9106.0100.5

106.099.5

103. 3107.1111.5

117.6114.8113.2114.8114.3

119.2120.3

97.9101.2101.0

110.5118.1121.6127.7125.2

136.7140.0143.1139.9150.7

155.0157.7

(5)(5)

( 5 )

(5 )

(5 )(5)

( 5 )

( 5 )

(5 )

(5)

( 5 )

( 5 )

(»)


2

96.2100.2103. 6

110.2116.2119.6122.2125.2

134.3137. 4143.1143.2149.5

154.5162.5

(5)(5 )

( 5 )

(5 )

(5 )(5 )

(5)

( 5 )

( 5 )(5)

(5)(o)

( 5 )

(5)

( 5 )

Totalpri-vate

100.8101.397.9

99.8103.4104.2105.1101.6

106.1108.1106.5102.0105. 6

106.5104.7

100.1101.598. '

99.1101. t101. C101. £97. £

101.7103. £102.298.7

101. 6

102.fi101. 6

Man-hours

Agri-cul-ture

102.799.098.3

91.286.983.077.375.2

76.673.467.963.263.1

62.358.5

102. £i 98. e7 98. £

) 91.287.283.377.675.4

76.973.767.863.063.0

62.158.2

Nonagriculturalindustries

Total

100.4101.897.9

101.7106.9108.7111.1107.3

112.4115.6114.8110.3114.7

115.9114.6

99. f101. g98.6

101.8104.7105. 3107.3102.8

107.2110.1109.8106.5110.1

111.8111.6

Man-ufac-tur-ing

103. 5102.893.7

101.7109.5111.3116.9106.8

112.8114.6112.8103. 6110.3

109 9106.9

(5)

(5)

(5)

(5)

( 5 )(5)

( 5 )

( 5 )


99.0101.399.8

101.7105.7107.5108.4107.5

112.2116.0115.7113.4116.7

118.7118.1

(8)(5)

( 5 )

(5)(5)

( 5 )(5)

( 5 )

(5)

(5)

(5)

(5)

( S )

(5)

( ' )

1 Output refers to gross national product in 1954 prices.2 Man-hour estimates based primarily on establishment data.3 Preliminary.4 Man-hour estimates based primarily on labor force data.s Not available.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.


244


PRODUCTION AND BUSINESS ACTIVITY

TABLE B-32.—Industrial production indexes, market groupings, 7947-67

11957=100]

Year or month

1947..1948..1949..

1950-1951 _1952..1953..1954..

1055..1956-.1957-1958..1959..

I960-.19613.

I960: JanuaryFebruaryMarchAprilMayJune



JulyAugustSeptemberOctoberNovemberDecember3 __

Final products

Total

61867.365.1

73.579.385.290.786.5

94.6S8.9

100.095. 1

106. 5

110.6111.9

Consumer goods 2

Total

69.671.871.4

81.580.682.588.187.2

96.598.7

100.099.0

110.0

114.4116.1

Auto-motiveprod-

66.069.068.4

86.176.268.6

112.593.0

100.082.5

102.8

117.2106.2

Homegoods

71.274.268.7

94.681.581.693.489.1

100.7104.5100.096.2

115.0

115.2116.8

Equipment,includingdefense

Total

53.055.749.7

53.975.090.096.185.0

90.999. 1

100.087.399.5

102.9103.6

Busi-

66.469.060.3

78.989.491.880.8

87.299.4

100.085.299.6

104.7104.7

Materials

Total

65.868.963.6

75.482.282.790.884.4

97.199.7

100.091.0

103.5

105.7106.4

Dur-able

goods

65.167.761.2

75.883.884.896.184.4

99.9100.5100.085.9

100.3

101.7100.0

Non-durablegoods

65.669.064.9

74.179.779.985.184.3

94.198.8

100.096.5

106.9

109.9113.4

Seasonally adjusted

111.1109.6109.1108.7109.7109.4

109.4108.3106.7106. 1104.5103.0

102.3102. 1102.6105.6108.3110.4

112.0113.0111.0112.8114.2115.2

111.7109.9109.9110.7112.3112.1

111.9111.0110.2110.4109.0108.0

106.6106.6106.7109.2110.8112.7

114.3114.7112.9115.5117.1118.2

115.9113.3113.2115.0116.4116.6

115.8115.0113.7114.3112.7111.7

110.2110.2110.6113.7115.4117.8

119.5119.8116.4119.5120.8122.2

127.3122.2114.0117.2120.4121.2

113.7115.4116.0120. 0112.6105.7

93.889.988.0

103.2107.8113.3

115.4116.595.9

110.4121.2128

123.3116.9114.8117.9121.7120.2

117.0114.3112.1110.2109.9110.0

108.3109.0109.7113.6116.9122.3

123.5119.9121.1121.2122.1

103.3103.2103.5102. 1104. 1103.2

104.3103.1103. 1102.7101.7100.6

99.599.599.0

100. 1101.6102.4

103.9104.7105.9107.4109.8110.5

105.6105. 1105.1103.8105.8105.3

106.3105.1104.8104.5102.9101.8

100.8100.799.8

101.6102.6103.9

105.1105.7106.7108.3110.6112

110109108107.107106.

106105.103.102.101.99.

98.98.99.

463534

117810

121

102.9106.108.

109.111.109.110.111.111.

27

522638

110.3109.2106.9105.2104.8101.9

101.199.798.797.393.990.5

89.889.490.495.5

100.6103.5

104.1105.9103.7105.2105.8106

110.6110.0109.9110. 1110.2111.3

111.7111.0109.1108.9109.0108.2

107.2107.8108. 6111.0112.3114.3

115.4117.1115.2116.5117.3118

1 Annual indexes for 1929-46 are, respectively: 38.2, 31.8, 26.3, 20.6, 24.3, 26.4, 30.5, 36.1, 39.5, 31.2, 38.1,43.6, 56.1, 68.9, 82.4, 81.1, 70.0, and 59.2.

2 Also includes apparel and consumer staples, not shown separately.3 Preliminary.i Not available.

Source: Board of Governors of the Federal Reserve System.

245


TABLE B—33.—Industrial production indexes, industry groupings, 1947—61

[1957=100]

Year or month

194719481949

19501951 _ _.195219531954

1955195619571958 _ - -1959

I9601961 x

I960* JanuaryFebruaryMarchAprilMayJune.


1961: JanuaryFebruaryMarchAprilM a yJune.

JulyAugust-SeptemberOctoberNovemberDecember L._

Totalindus-trial

produc-tion

65.368.064.3

74.580.883.890.885.4

96.099.3

100.092.9

104.9

108.0109.0

111.1109.6109.1108.7109.7109.4

109.4108.3106.7106.1104.5103.0

102.3102.1102.6105.6108.3110.4

112.0113.0111.0112.8114.2115.2

Manufacturing

Total

66.168.664.8

75. 581.584.892.185.8

96.799.5

100.092.4

105.3

108.2108.8

111.9110.3109.5109.0110.2109.7

109.7108.3106.6106.0104.1102.4

101.4101.3101.9105.2108.2110.5

112.2113.1111.0112.8114.2115.3

Total

61.864.458.5

71.380.385.196.085.0

97.9100.0100.086.8

101.5

104.3102.9

110.9109.4107.8105.9107.0105.3

105.4103.6101.8100.698.095.8

94.694.394.798.7

102.7105.3

107.3107.9105)1106.8109.1110.3

Pri-marymetals

80.884.170.8

89.196.988.5

100. 3SI. 3

105.5103.7100.078.089.5

90.388.3

Durable ma

Fabri-catedmetalprod-ucts

74.976.268.8

84.290.087.898.888.8

96.997.4

100.091.6

103.9

106.0104.8

Ma-chinery

62.663.856.7

69.779.688.496.484.3

92.6102.8100.085.2

102.8

106.4106.1

nufactures

Trans-porta-tion

equip-ment

40.344.044.2

52.959.068.686.278.7

95.991.5

100.084.297.8

101.797.3

Seasonally adjusted

115.4109.7105.799.093.687.5

85.182.879.878.373.669.3

71.272.673.582.089.992.3

94.698.298.796.096.9

100

108.6108.1106.6103.8107.9108.4

108.7107.7105.8105.4101.0100.7

96.595.796.398.6

104. 8107.3

108.1111.0105.3109.8111.9112

109.7108.0108.4106.8108.5108.6

110.0107.2105.3101.8102.1101.2

101.3100.8100.5102.9104.3107.3

110.2108.5107.8108.6110.3112

107.0106.7103.7102.3106.1101.4

101.3100.8101.2101.896.793.3

88.987.688.194.099.0

100.6

102.2102.794.5

100.5105.9109

Instru-mentsand re-latedprod-ucts

54.856.450. 3

58.567.179.787.08 1 7

90.597.3

100.094.1

112.2

118.9118.2

118.4117.3118.6117.0119.5120.6

121.4122.0118.2118.6118.7116.4

116.0113.1113.0112.8115.9118.6

119.4121.9121.0121.2122.9123

Clay,glass,and

lumber

77.781.874.1

89.994.391.695.192.0

103.3104.7100.096.5

111.3

108.5107.2

111.7111.6107.6111.3110.8112.9

112.6108.6106.6105.6102.8100.2

100.499.7

101.9105.1107.1111.8

113.0112.2110.5108.2108.2107

Furni-tureand

miscel-laneous

75.379.373.4

85.882.184.491.989.0

100.3103. 5100.095.6

111.7

116.1116.7

116.3115.7115.8117.2119.3120.1

119.1118.0114.0114.9113.4110.4

108.7109.2109.8112.3115.3118.7

118.5119.5119.7121.4124.3123


246


TABLE B-33.—Industrial production indexes, industry groupings, 7947-67—Continued

[1957=100]

Year or month

M anuf acturing

Nondurable manufactures

Total

Textile,apparel,

atadleather

products

Paperand

printing

Chem-ical,

petro-leum,and

rubberproducts

Foods,bever-ages,and

tobacco

Mining Utilities

194719481949

19501951195219531954

19551956195719581959

19601961

1960: JanuaryFebruary.MarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember.


JulyAugustSeptemberOctoberNovember.December

70.072.371.1

79.181.783.386.986.9

95.098.9

100.099.9

110.3

113.4116.7

83.587.183.1

91.990.192.293.689.6

98.4101.1100.099.2

115.2

114.8115.0

68.170.970.8

78.481.179.484.5

94.699.3

100.099.2

107.6

111.5115.1

50.654.152.7

64.771.874.580.279.3

91.896.3

100.098.8

112.7

117.7122.4

83.482.783.6

86.588.390.291.292.8

96.299.8

100.0102.1106.5

109.4113.3

Seasonally adjusted

76.480.371.2

79.587.386.588.886.2

94.8100.1100.091.495.3

97.197.9

113.1111.6112.0113.2114.6115.7

115.5114.8113.0113.3112.3111.2

110.5110.8111.6113.9115.5117.4

119.0120.2118.9121.0121.2122.0

116.4114.3115.0116.0118.3118.8

118.6117.0112.2112.1111.1107.5

105.0107.4110.2111.8113.3115.7

118.2120.3118.1121.7120.9121

111.3110.4109.6110.3112.1112.0

112.3112.2112.3112.8111.9110.8

111.1111.4111.2113.1113.6114.9

114.8117.8117.1117.4118.3121

116.4114.9115.6117.9119.2122.2

121.7120.3117.5116.8116.0114.6

114.0113.4113.3118.0121.7124.6

127.4127.3125.7128.0128.1130

108.8107.2107.9108.4109.2109.6

109.3109.6109.6110.8109.5110.4

110.2110.1111.2111.9112.1113.1

113.9114.2113.8116.1116.2116

98.096.496.097.997.097.2

97.598.096.396.998.097.8

97.696.396.397.497.197.6

97.898.797.199.5

100.6100.5

38.943.446.3

52.760.165.271.176.5

85.493.6

100.0104.5115.0

123.1131.2

120.2120.9123.5122.9121.9123.4

124.0125.2125.5124.0122.9122.9

124.6125.1124.9127.1130.4131.5

131.7134.6135.4135.8136.0137.0

i Preliminary.


247


TABLE B—34.—Business expenditures for new plant and equipment, 1939 and 1945-62


Year or quarter

1939

19451946194719481949

1950—1951195219531954

195519561957_19581959 . - _

I960. - -1961 3

1959: II II I IIV

1960: IIIIIIIV

1961: I - - - - - -IIIIIIV3

1962: I 3 . - -

Total i

5.51

8.6914.8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0836.9630.5332.54

35.6834.50

30.6032.5033.3533.60

35.1536.3035.9035.50

33.8533.5034.7035.90

36.50

Manufacturing

Total

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9515.9611.4312.07

14.4813.72

11.2011.8012.2512.85

14.1014.7014.6514.40

13.7513.5013.6514.00

14.55

Dura-ble

goods

0.76

1.593.113.413.482.59

3.145.175.615.655.09

5.447.628.025.475.77

7.186.27

Non- ,durablegoods

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.3B7.945.966.29

7.307.45

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.24.94.99

.99

.99

Transportation

Rail-road

0.28

.55

.58

.891.321.35

1.111.471.401.31.85

.921.231.40.75.92

1.03.67

Other

0.36

.57

.921.301.28.89

1.211.491.501.561.51

1.601.711.771.502.02

1.941.84


5.255.755.856.15

7.157.407.356.85

6.506.206.106.35

6.70

5.956.056.406.70

6.957.307.307.55

7.257.307.557.65

7.85

0.95.95

1.001.05

1.001.051.00.90

.951.001.001.00

1.00

0.651.001.30.85

1.001.101.001.00

.70

.70

.65

.60

.70

1.702.102.152.15

2.002.151.901.80

1.751.801.901.90

1.80

Publicutili-ties

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.206.095.67

5.685.56

5.805.805.605.50

5.755.705.605.70

5.355.505.655.70

5.50

Com-mer-cialand

other 2

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510.409.82

10.88

11.5711.71

10.3510. 8511.0511.20

11.3511.6011.7511.65

11.3011.0511.8512.65

12.90

1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Estimates for fourth quarter 1961 and first quarter 1962 based on anticipated capital expenditures re-

ported by business in late October and November 1961. The quarterly anticipations include adjustments,when necessary, for systematic tendencies in anticipatory data.

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

This series is not available for years prior to 1939 and for 1940 to 1944.Sources: Securities and Exchange Commission and Department of Commerce.

248


TABLE B-35.—New construction activity, 1929-61[Value put in place, millions of dollars]

Year or month

1929 . _.19301931 . . .19321933 . . . . . .1934193519361937 . . - .1938193919401941 '.19421943194419451946 . __19471948194919501951 . . .19521953195419551956195719581959 _-New series:4

1959196019615

1960:JanuaryFebruaryMarch. _ . . .AprilMayJune. . .JulyAugustSeptember . . . -October . . .NovemberDecember __ _ _

1961:JanuaryFebruaryMarchAprilMayJune..-JulyAugustSeptember... . . .OctoberNovember5 _•_December s

Totalnewcon-

struc-tion

10, 7938.7416,4273,5382,8793,7204,2326,4976,9996,9808,1988,682

11,95714, 0758,3015,2595,809

12, 62717,90123, 24324,18329, 94732, 70034, 67037, 01939,23444,16445, 81547, 84548, 95054,109

56,55555, 55657, 492

54, 82055,22054,99854, 65755,24355,51455, 75055, 83755, 59955, 55256,07956, 650

56,01855, 71755, 79455, 50455, 51857,20657,03957, 98358, 91058,90561,18059, 953

Private construction

Total i

8,3075,8833,7681,6761,2311,5091,9992,9813,9033, 5604,3895,0546,2063,4151,9792,1863,411

10, 39614, 58218, 53917, 91423, 08123, 44723, 88925, 78327, 55632, 44033,06733, 76633, 49338,002

40, 34439, 60340, 439

Resi-dential

building(non-farm)

3,6252,0751,565

630470625

1,0101,5651,8751,9902,6802,9853,5101,715

885815

1,2764,7527,535

10,1229,642

14,10012, 52912, 84213, 77715,37918, 70517, 67717,01918,04722, 331

24,96222, 54622, 566

Seasonally

40,29940,09539,84639. 41439, 38339, 76539,48739, 47439, 31639, 20039,62439, 639

38, 57537, 96238,51138, 98639,23240,32841,17641,28141, 70941, 76742,17242, 696

23, 79923,15322, 90822,52622, 60822, 87022, 74822, 44822,10221, 83422,01621,916

20, 64920,01620, 50821,04221,25722,27123,11823, 30623, 78224,02624, 62525,191

Nonresidential building and other construction

Total

4,6823, 8082,2031,046

761884989

1,4162,0281,5701,7092,0692,6961,7001,0941,3712,1355,6447,0478,4178,2728,981

10, 91811,04712, 00612,17713, 73515,39016, 74715, 44615, 671

15,38217,05717,873

adjusted

16,50016,94216,93816, 88816, 77516. 89516, 73917,02617,21417, 36617, 60817, 723

17,92617, 94618, 00317, 94417, 97518,05718,05817, 97517,92717, 74117, 54717,505

Com-mercial 2

1,1358934542231301732112903872852923484091553356

2031,153

9571,3971,1821,4151,4981.1371,7912,2123,2183,6313,5643,5893,914

3,9304,1804,663

Indus-trial

94953222174

176191158266492232254442801346156208642

1,6891,7021,397

9721,0622,1172,3202,2292,0302,3993,0843,5572,3822,098

2,1062,8512,759

Publicutility

1,5781,527

946467261326363518705605683771872786570725827

1,3742,3383,0433,3233,3303,7294,0434,4754,1614,3634,8935,4145,0874,990

5,0085,3235,392

annual rates (New series *)

4,1584,3234,2034,1584,0663,9953,9764,0334,1344,2624,3784,519

4,8484,8214,7434,6364,5154,5104,5784,6464,7184,6814,6084,641

2,5962,7222,7602,7852,7862,7962,8392,8802,9583,0103,0253,025

3,0532,9922,9572,9212,8492,7502,6722,5882,6102,6082,5542,537

5,0885,2165,2815,2445,2145,4135,2525,4105,4185,3615,4525,458

5,3085,3845,3985,3235,3835,3825,4575,4705,4225,4045,3775,368

Other *

1,020856582282194194257342444448450508614413335382463

1,4282,0502,5802,7953,1743,5743,5473,5113,7743,7553,7824,2124,3884,669

4,3384,7035,059

4,6584,6814,6944,7014,7094,6914,6724,7034,7044,7334,7534,721

4,7174,7494,9055,0645,2285,4155,3515,2715,1775,0485, 0084,959

Publiccon-

struc-tion

2,4862,8582,6591,8621,6482,2112,2333,5163,0963,4203,8093,6285,751

10, 6606 3223,0732,3982,2313 3194,7046,2696,8669,253

10, 78111,23611,67811, 72412, 74814,07915, 45716,107

16,21115,95317, 053

14,52115,12515,15215,24315, 86015, 74916,26316,36316, 28316, 35216, 45517,011

17, 44317, 75517,28316, 51816,28616,87815, 86316, 70217,20117,13819,00817, 257

1 Data in this table do not agree with the new construction expenditures included in the gross nationalproduct. The latter data include expenditures for crude petroleum and natural gas well drilling, and donot reflect revisions in the "new series" presented above. (See Table B-l.)

2 Office buildings, warehouses, stores, restaurants, and garages.3 Farm, institutional, and all other.* New series beginning January 1959 not comparable with prior data. In addition to major differences

between old and new series, data for Alaska and Hawaii are included beginning January 1059. For details,see Construction Activity, C 30-13, August 1960, and C 30-25 (Supplement), July 1961, Bureau of theCensus.

* Preliminary.Source: Department of Commerce.

249


TABLE B-36.—New public construction activity, 7929-67[Value put in place, millions of dollars]

Year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956 __ ___1957 .19581959 3

19601961 *

Total new public construction x

Allpublicsources

2,486

2,8582,6591,8621,6482,211

2,2333,5163,0963,4203,809

3,6285,751

10,6606,3223,073

2,3982,2313,3194,7046,269

6,8669,253

10, 78111,23611,678

11, 72412, 74814,07915,45716,211

15,95317,053

Federal

Direct

155

209271333516626

814797776717759

1,1823,7519,3135,6092,505

1,737865840

1,1771,488

1,6252,9814,1854,1343,418

2,7772,7422,9933,3883,755

3,6653,830

Federalaid

80

104235111286721

5671,5661,1171,3201,377

946697475268126

99244409417461

462481626687728

790896

1,3142,1302,790

2,4532,484

Stateandlocal

2,251

2,5452,1531,418

846864

8521,1531,2031,3831,673

1,5001,303

872445442

5621,1222,0703,1104,320

4,7795,7915,9706,4157,532

8,1579,1109,7729,9399,666

9,83510,739

Major types of new public construction

High-way

1,266

1,5161,355

958847

1,000

8451,3621,2261,4211,381

1,3021,066

734446362

398764

1,3441,6612,015

2,1342,3532,6793,0153,680

3,8614,4314,9545,5455,870

5,4645,800

Educa-tional

389

364285130

52148

153366253311468

1561581286341

59101287618934

1,1331,5131,6191,7142,134

2,4422,5562,8252,8752,656

2,8183,053

Hos-pitaland

institu-tional

101

118110834951

38747397

127

5442354458

858577

213458

499527495369333

300300354390428

400370

Sewerand

waterand

miscel-laneouspublicservice

404

500479291160228

246509445492507

469393254156125

152278492699803

819959958

1,0501,171

1,3181,6591,7371,8382,018

2,1362,166

Con-serva-tionandde-

velop-ment

115

137156150359518

700658605551570

528500357285163

130260424670852

942912900892773

701826971

1,0191,130

1,2211,361

Mili-tary

facili-ties

19

2940343647

37293762

125

3851,6205,0162,550

837

690188204158137

177887

1,3871,2901,003

1,2871,3601,2871,4021,488

1,3861,386

Allother

public2

192

194234216145219

214518457486631

7341,9724,1362,7781,487

884555491685

1,070

1,1622,1022,7432,9062,584

1,8151,6161,9512,3882,621

2,5282,917

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

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

3 Beginning with 1959, data include estimates for Alaska and Hawaii. Comparability with earlier datais not seriously affected since these two States accounted for less than two-thirds of one percent of total newpublic construction in 1959.

* Preliminary.Source: Department of Commerce.

250


TABLE B-37.—Housing starts and applications for financing, 1929-61[Thousands of units]

Year or month

Total housingstarts (farm and

nonfarm)

Totalprivate

andpublic 1

Private

Nonfarm housing starts

Totalprivate

andpublic 1

Private

TotalGovernment

programs

FHA VA

Private hous-ing starts,

adjusted an-nual rates

Totalfarmandnon-farm

Non-farm

FHAappli-cations

Proposedhome con-struction 2

VAap-

praisalre-

quests

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..

509.0330.0254.0134.093.0

126.0221.0319.0336.0406.0515.0602.6706.1356.0191.0141.8209.3670.5849.0931.6

., 025.1396.0091.3327.0103.8220.4

118.1041.9209.4378.5

509.0330.0254.0134.093.0

126.0215.7304.2332.4399.3458.4529.6619.5301.2183.7138.7208.1662.5845.6913.5988.8

1,352. 21,020.11,068.51,068.31,201.71,309.51,093.9

992.81,141.51,342.8

New series 6

19591960196U1960: January

February __MarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1961: JanuaryFebruaryMarchApril.MayJuneJulyAugustSeptemberOctober7

November7

December 7

1, 553.51,296.01,354.6

87.493.393.9

124.8133.8128.2118.3135.1102.6113.294.570.972.581.0

109.7115.3130.7138.3128.5130.1128.2128.9104.886.6

1,516.81,252.11,303.5

86.090.790.5

123.0130.2122.8114.3130.396.9

110.492.864.269.875.8

104.6111.0126.6132.4125.2127.0122.4124.0101.982.8

1, 531.31,274.01,326.3

83.492.392.8

123.0131.7126.6116.6133.0100.6110.193 570^471.077.7

107.3113.0128.3135.3126.0127.3126.5126.4103.184.4

1, 494. 61,230.11,275.3

82.089.789.4

121.2128.1121.2112.6128.294.9

107.391.863.7

68.372.5

102.2108.7124.2129. 5122.7124.2120.7121.5100.280.6

14.049.460.0

118.7158.1180.1220.4165.7146.293.341.269.0

229.0294.1363.8486.7263.5279.9252.0276.3276.7189.3168.4295.4332.5

332.5260.9244.415.917.621.925.425.226.523.626.321.922.620.213.8

14.013.020.120.123.722.121.325.520.923.422.917.4

3 20.647.849.8

131.1179.8231.2

*8.891.8

160.371.190.8

191.2148.6141.3156.5307.0392.9270.7128.3102.1109.3

109.374.683.34.14.85.27.36.97.77.48.26.85.95.54.8

4.94.96.46.18.07.87.38.47.39.27.35.7

New series 6

1,3821,3831,1041,2981,3311,2791,2271,3551,0891,2731,220

996

1,1271,1691,2961,1661,2911,3811,3431,3261,3831,4341,3421,306

1,3021,3661,0891,2751,8091,2641,2091,3351,0671,2371,206

1,1151,2621,1431,2681,3511,3181,3011,3651,4041,319U264

288.5238.5144.462.956.6

121.7286.4293.2327.0397.7192.8267.9253.7338.6306.2197.7198.8341.7369.7

369.7242.4243.816.321.127.422.522.423.719.622.920.118.314.813.2

14.316.924.020.823.923.420.624.419.622.117.416.4

88()164.4226.3251.4535. 4620.8401.5159.4234.2234.0

234.0142.9177.811.212.912.913.714.415.28.5

12.411.610.010.310.0

9.412.017.717.514.717.615.117.415.716.113.511.0

1 Military housing starts, including those financed with mortgages insured by FHA under Section 803 ofthe National Housing Act, are included in total private and public starts but excluded from total privatestarts and from FHA starts.2 Units in mortgage applications for new home construction.3 FHA program approved in June 1934; all 1934 activity included in 1935.4 Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.6 Not available.6 In addition to major differences between old and new series arising from revisions in sources and methods,new series include data for Alaska and Hawaii. For details, see Housing Starts, C20-11 (Supplement),Bureau of the Census, May 1960.7 Preliminary; December and year 1961 estimated by Council of Economic Advisers.

NOTE.—Data for VA programs include Alaska and Hawaii; FHA programs include Alaska, Hawaiiand Puerto Rico.

Sources: Department of Commerce, Federal Housing Administration (FHA), Veterans Administration(VA), and Housing and Home Finance Agency (except as noted).

621876 O-62-17251


TABLE B-38.—Sales and inventories in manufacturing and trade, 1939-61

[Amounts in billions of dollars]

Year or month

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961

1960: JanuaryFebruary...MarchAprilMayJune

JulyAugustSeptemberOctoberNovember.December..


JulyAugustSeptember.OctoberNovemberDecember '

Total manufactur-ing and trade i

Sales2

10.8

12.115.818.621.923.8

23.927.033.036.334.8

40.044.745.948.447.4

52.354.856.354.060.0

61.061.7

Inven-tories 3

20.1

22.228.831.131.331.1

30.942.750.255.651.9

62.973.674.877.474.3

80.688.790.885.590.6

94.195.0

Ratio

1.77

1.721.581.661.401.33

1.301.331.411.471.55

1.381.581.601.591.59

1.471.551.601.611.48

1.541.52

Manufacturing

Sales2

5.1

5.98.2

10.412.813.8

12.912.615.917.616.4

19.322.322.824.523.5

26.327.728.426.229.7

30.430.8

Inven-tories s

11.5

12.817.019.320.119.5

18.424.528.931.728.9

34.342.843.845.443.0

46.452.353.549.252.4

53.755.0

Ratio

2.11

2.061.781.771.511.45

1.481.661.711.721.86

1.571.771.901.841.86

1.681.791.891.931.72

1.781.75

Wholesale trade i

Sales 2

2.43.03.43.84.2

4.55.76.97.57.2

8.49.4

9.7

10.611.311.311.112.3

12.312.6

Inven-tories3

3.24.03.83.73.9

4.66.27.17.97.6

9.19.7

10.010.510.4

11.413.012.712.012.6

13.2'13.3

Ratio

1.34

1.301.201.19.97.94

.91

.911.001.011.07

.961.051.011.061.07

1.021.081.131.101.00

1.051.06

Retail trade i

Sales 2

3.5

4.64.85.35.9

6.58.7

10.211.111.1

12.313.013.514.114.1

15.315.816.716.718.0

M8.318.3

Inven-tories £

6.17.88.07.67.6

7.912.114.216.015.5

19.521.021.021.520.9

22.823.424.624.325.5

7 27.226.8

Ratio4

1.53

1.491.481.761.431.31

1.211.151.261.391.41

1.381.631.521.531.51

1.431.471.441.431.39

1.451.45

Seasonally adjusted

61.662.361.362.561.961.8

60.960.760.460.359.959.4

58.759.360.260.161.661.9

61.762.461.663.264.5

91.792.693.693.994.694.8

94.694.794.694.894.694.1

93.693.492.793.093.193.1

93.593.694.394.695.0

1.491.491.531.501.531.53

1.551.561.571.571.581.59

1.601.581.541.551.511.50

1.521.501.531.501.47

31.131.630.831.031.030.8

30.430.130.129.629.329.1

28.729.029.630.130.830.9

31.231.431.431.832.2

53.353.954.354.755.055.1

54.955.054.754.454.053.7

53.753.653.353.453.453.4

53.554.054.454.855.0

1.711.711.761.761.771.79

1.801.821.821.841.851.84

1.871.851.801.771.731.73

1.721.721.731.721.71

12.412.512.212.612.412.5

12.312.312.212.212.212.3

812.212.412.512.112.812.8

12.512.812.112.813.1

12.712.712.812.913.113.0

13.013.113.113.213.313.2

813.113.213.313.413.513.5

13.613.613.513.513.3

1.021.021.051.021.051.04

1.061.061.081.091.081.07

1.081.061.061.111.051.06

1.091.061.091.071.02

718.118.218.218.918.418.5

18.118.218.118.518.417.9

17.817.818.117.918.018.2

18.018.218.118.619.219 0

7 25.626.026.426.326.626.6

26.726.626.827.227.427.2

26.826.626.126.226.226.2

26.326.026.326.426.8

1.421.431.451.391.441.44

1.471.461.481.471.491.52

1.511.491.441.471.461.44

1.461.431.451.421.40

1 The series beginning in 1946 for wholesale trade and for retail trade are not comparable with previousyears because of changes in definitions.

2 Monthly average shown for year and total for month.3 Seasonally adjusted, end of period.4 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.5 Where December data not available, data for year calculated on basis of no change from November.6 Preliminary.7 Beginnine January 1960, retail sales and inventories include data for Alaska and Hawaii.8 Beginning January 1961, wholesale sales and inventories include data for Alaska and Hawaii.

NOTE.—For a description of the series and their comparability, see Survey of Current Business, Septemberand November 1952, June 1957, and December 1961 for retail, and August 1957 for manufacturing andwholesale.

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

Source: Department of Commerce.

252


TABLE B—39.—Manufacturers' sales, inventories, and orders, 1939—61


Year ormonth

1939—

1940—1941 —1942—.1943—1944—.

1945—.1946—.1947—.1948—.1949....

1950—1951....1952....1953—.1954—.

1955—.1956—.1957—.1958....1959....

I960—1961 ««.

1960:JanuaryFebruary--.MarchAprilMay..June

JulyAugustSeptember-.OctoberNovember-.December..

1961:JanuaryFebruary. _.MarchAprilMayJune

JulyAugustSeptember-.OctoberNovember5

December 6.

Sales *

Dura-ble

goodsindus-tries

1.9

2.53.85.26.97.3

6.35.06.77.67.1

8.810.410.912.411.2

13.113.814.212.414.5

14.714.6

Non-durable

goodsindus-tries

3.2

3.44.45.36.06.4

6.67.69.2

10.09.3

10.511.911.912.112.3

13.313.914.213.815.2

15.716.3

Inventories 2

Durable goodsindustries

15.415.715.215.015.114.9

14.714.414.414.113.813.6

13.213.313.714.114.614.7

14.815.115.015.315.715.8

Pur-chasedmate-rials

1.8

2.13.13.73.9

3.24.55.15.64.6

6.17.47.37.46.5

7.48.78.37.58.3

8.08.2

Goodsin

process

1.5

2.03.24.65.25.0

3.54.65.25.44.7

6.08.6

10.210.7

11.112 812.711.312.1

12.112.8

Fin-ishedgoods

Pur-chasedmate-rials

2.1

2.22.32.22.12.1

2.12.94.04.74.7

4.76.86.98.17.7

8.29.2

10.19.09.7

10.810.6

Nondurable goodsindustries

process goods

2.4

2.64.04.34.54.7

4.96.57.27.36.5

8.49.18.68.17.9

8.18.58.88.68.9

8.7

Goods

0.8

.91.21.21.41.4

1.51.82.22.22.1

2.52.72.72.72.6

2.83.03.13.03.0

3.13.3

Fin-ished

2.9

3.03.23.33.03.0

3.24.25.26.5

6.68.28.18.48.4

8.810.110.59.8

10.4

11.111.2

New orders 1

Total

5.46.89.8

13.312.711.9

10.513.715.617.415.9

21.024.523.623.122.5

27.228.327.325.930.1

29.931.1

Dura-ble

goodsindus-tries

Non-durablegoodsindus-tries

2.2

3.45.38.06.85.5

3.95.96.47.5

10.312.711.711.010.2

13.914.413.112.014.9

14.214.8

Seasonally adjusted

15.715.915.716.015.915.9

15.715.715.715.515 415.5

15.515.715.916.016.216.2

16.416.416.416.516.6

8.68.78.88.88.88.7

8.48.38.18.0

8.08.07.97.87.87.6

7.77.78.08.18.2

12.312.512.712.612.712.8

12.612.612.412.212.112.1

12.112.111.911.911.912.0

12.112.312.412.612.8

9.910.110.410.510.610.7

10.810.911.010.910.910.8

10.710.610.510.510.510.6

10.610.810.710.710.6

9.09.19.19.19.19.1

9.19.08.98.98.88.7

8.78.78.88.99.09.0

9.08.99.08.98.9

3.03.03.03.13.13.1

3.23.23.13.13.13.1

3.13.03.03.13.23.3

3.33.33.33.33.3

10.510.510.510.510.610.6

10.610.710.911.011.011.1

11.111.211.211.211.010.9

10.911.011.111.111.2

29.830.630.330.430.530.1

29.230.030.429.229.028.7

28.529.129.930.431.131.1

31.332.132.332.732.7

14.214.814.614.514.714.3

13.814.414.613.713.613.2

12.913.413.814.414.814.9

15.015.615.816.116.2lb. 4

3.2

3.44.55.35.96.4

6.67.89.39.99.3

10.711.811.912.112.3

13.313.914.213.915.3

15.716.3

15.615.815.715.915.815.8

15.415.615.815.515.415.5

15.615.816.016.116.316.2

16.316.516.516.616.5

Un-filledorders(unad-just-ed) 3

7.0

18.437.972.971.549.0

20.933.830.326.920.8

41.167.676.359.540.9

56.964.250.746.851.5

45.447.7

50.950.249.548.447.847.7

47.747.547.546.445.845.4

45.345.545.645,845.845.9

46.847.247.447.547.7

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

NOTE.—See Table B-38 for total sales and inventories of manufacturers.


253


PRICES

TABLE B-40.— Wholesale price indexes, 1929-61

[1947-49=100] i

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 «.

1960: January..February.MarchAprilMayJune

JulyAugustSeptember - _OctoberNovember. _.December«..

61.9

56.147.442.142.848.7

52.052.556.151.150.1

51.156.864.267.067.6


1961: January. _February.MarchAprilMayJune

68.878.796.4

104.499.2

103.1114.8111.6110.1110.3

110.7114.3117.6119.2119.5

119.6119.1

119.3119. 3120.0120.0119.7119.5

119.7119.2119.2119.6119.6119.5

119.9120.0119.9119.4118.7118.2

118.6118.9118.8118.7118.8119.2

58.6

49.336.226.928.736.5

44.045.248.338.336.5

37.846.059.268.568.9

71.683.2

100.0107.392.8

97.5113.4107.097.095.6

89.688.490.994.989.1

88.888.0

86.587.090.491.190.489.0

88.986.687.789.589.988.7

89.790.089.988.586.885.1

87.188.687.287.187.687.9

58.5

53.344.836.536.342.6

52.150.152.445.643.3

43.650.559.161.660.4

60.877.698.2

106.195.7

111.4108.8104.6105.3

101.7101.7105.6110.9107.0

107.7108.5

105.6105.7107.3106.8107.3107.6

108.9107.8108.1109.0109.1109.2

109.9110.5109.6108.7107.5106.7

107.5108.1108.1108.3107.9108.8

65.5

60.953.650.250.956.0.

55.756.961.058.458.1

59.463.768.369.370.4

71.378.395.3

103.4101.3

105.0115.9113.2114.0114.5

117.0122.2125.6126.0128.2

128.3127.7

128.8128.7128.6128.7128.2128.2

128.2128.2127.9128.0127.9127.9

128.1128.1128.2128.0127.6127.4

127.4127.4127.5127.3127.5127.7

64.2

57.147.139.046.051.8

50.450.854.247.449.5

52.460.368.969.2

71.182.6

100.1104.495.5

99.2110.699.897.395.2

95.395.395.493.595.0

96.194.4

96.696.596.396.396.396.3

96.3- 96.195.995.895.495.2

94.894.794.494.194.093.7

94.294.494.794.894.8

83.5

73.062.053.856.865.8

66.471.784.482.7

80.286.5

100.6103.3102.0

99.499.0

102.198.9

120.5148.0134.0125.0126.9

143.8145.8145.2145.0144.5

144.7139.3

143.1144.6144.7144.7146.3146. 7

146.9145.3144.9144.7143.6141.2

139.7139.6139.9140.1140.2139.6

139.0139.4139.6139.4138.4137.0


254


TABLE B-40.— Wholesale price indexes, 1929-61—Continued

[1947-49=100] i

Year or month

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-

1960196151960: January

February. _.MarchAprilMayJune

JulyAugustSeptember--OctoberNovember. -December. __


July . . .AugustSeptember..OctoberNovember..December 5_

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

Hides,skins,

leather,and

leatherprod-ucts

59.3

54.446.839.744.047.1

48.751.956.950.552.0

54.858.964.063.963.4

64.274.6

101.0102.196.9

104.6120.397.298.594.2

99.399.4

100.6114.3

110.3111.3112. 7112.0111.8112.1111.2110.3

110.1108.7108.1108.5108.5108.8

108.3108.0109.5109.9110.7110.1

111.1113.1113. 5114.1113.8113.4

Fueland

relatedprod-ducts,and

power 2

70.2

66.557.259.556.162.0

62.264.565.764.761.8

60.764.566.468.470.3

71.176.290.9

107.1101.9

103.0106.7106.6109.5108.1

107.9111.2117.2112.7112.7

113.8115.0111.9112.0112.3112.2110.8112.3

113.8115.3116.1116.2116.1116.2

117.2117.7117.5115.2113.6114.3

114.6114.4113.7113.0114.0114.9

Pulp,paper,

andalliedprod-ucts

()98.6

102.998.5

100. 9119. 6116.5116.1116.3

119.3127.2129.6131.0132.2

133.2129.4

133.7133.2133.1133.1133.4133.5

133.5133.0133.0133.4133.1132.3

132.2132.2131.5131.0126.1126.5

126.4126.3129.5130.4129.9130.4

Metalsand

metalprod-ucts

67.0

60.354.149.950.956.2

56.257.365.663.162.6

62.864.064.964.864.8

65.973.991.3

103.9104.8

110.3122.8123.0126.9128.0

136.6148.4151.2150.4153.6

153.8152.9

155.5155.3154.5154.5154.2153.8

153.4153.6153.5152.8152.3152.2

152.2152.3152.4152.7153.0153.1

153.2153.6153.7153.2152.4152.7

Machin^ery andmotiveprod-ucts

()65.3

66.268.671.271.071.0

71.680.392.5

100.9106.6

108.6119.0121.5123.0124.6

128.4137.8146.1149.8153.0

153.2153.1

153. 8153.9153.9153.7153.3153.2

153.3153.3151.4152.9153.0153.1

153.5153.4153.4153.1153.1153.2

153.0152.7152.7152.8152.9153.1

Furni-tureand

otherhouse-holddura-bles

69.3

68.262.855.455.560.2

59.860.667.265.665.4

71.276.876.478.4

78.683.095.6

101.4103.1

105.3114.1112.0114.2115.4

115.9119.1122.2123.2123.4

123.1122.3

123.4123.5123.7123.5123.2123.0

123.1122.9122.8122.7122.6122.6

122.3122.2122.2122.5122.4122.4

122.3122.1122.2122.2122.3122.2

Nonme-tallic

mineralprod-ucts 3

72.6

72.467.663.466.971.6

71.671.773.471.169.5

69.771.374.174.575.9

79.184.293.9

101.7104.4

106.9113.6113.6118.2120.9

124.2129.6134.6136.0137.7

138.0138.5

138.4138.2138.2138.3137.9137.8

137.8137.8138.0138.1137.9137.9

138.5138.4138.6138.6138.5138.3

138.4138.5138.5138.9138.6138.5

Tobaccomanu-

facturesand

bottledbever-

87.184.681.472.876.0

75.975.876.576.476.4

77.378.179.183.083.4

85.889.797.2

100.5102.3

103.5109.4111.8115.4120.6

121.6122.3126.1128.2131.4

131.8132.6

131.7131.7131.7131. 7131.7131.7

131.8132.0132.0132.0132.0132.1

132.1132.1132.1132.0132.1132.1

132.6132.8133.4133.4133.5133.4

Miscel-laneous

prod-ucts

(*)(4)100.8103.196.1

96.6104.9108.397.8

102.5

92.091.089.694.294.5

92.196.4

95.393.494.095.491.190.9

90.889.991.190.390.692.4

95.695.296.897.799.595.9

95.695.695.693.497.5

1 This does not replace the former index (1926=100) as the official index prior to January 1952. Databeginning January 1947 represent the revised sample and weighting pattern. Prior to January 1947 theyare based on the month-to-month movement of the former index.

2 Formerly titled "Fuel , power, and lighting materials."3 Formerly titled "Nonmetallic minerals—structural."4 Not available.5 Preliminary.


255


TABLE B-41.—Wholesale price indexes', by stage of processing, 1947-61

[1947-49=100]

Year ormonth

1947 .19481949

1950 - . -1951195219531954 .

19351956195719581959

1960 .19614 _.

1960:JanuaryFebruary.._MarchAprilMayJune

JulyAugustSeptember..OctoberNovember..December...

1961:JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptember-OctoberNovember-December *.

All

modi-ties

96.4104. 499.2

103.1114.8111 6110 1110.3

110.7114 3117.6119.2119.5

119.6119.1

119.3119.3120.0120.0119 7119.5

119 7119.2119.2119.6119.6119.5

119.9120.0119.9119.4118.7118.2

118.6118.9118.8118.7118.8119.2

Crude materials

Total

98.6108.093.4

101.8116.9107.499.298.3

94.595.097.299.496.7

94.593.9

94.694.896.496.396.095.3

94.892.792.993.393.093.3

94.795.195.294.693.291.6

92.794.893.893.793.394.3

Food-stuffsandfeed-stuffs

100.7108.890.5

97.0112.3105.794.694.7

85.784.087.792.886.8

85.784.6

83.784.788.088.087.586.8

86.183.883.985.185.185.5

87.387.586.985.783.681.5

82.885.183.483.183.584.7

Non-foodma-

terials,except

fuel

96.0106.897.2

111.0128.1110.9106.2104.2

110.1114.2112.5108.4112.2

107.5108.7

111.7110.5108.8108.8108.9108.2

107.7105.9106.1104.8104.1104.1

104.4105.4107.2108.6108.7108.5

109.2110.6111.3111. 5109.3109.7

Fuel

Intermediate materials, supplies, and components i

Total

Materials and components formanufacturing

Total

Ma-terials

forfood

manu-factur-

ing

Ma-terials

fornon-du-

rablemanu-factur-

ing

Ma-terials

fordu-

rablemanu-factur-

ing

Com-po-

nentsfor

manu-factur-

ing

Ma-terialsandcom-po-

nentsfor

con-struc-tion

89.4105.6105.0

104.6106.5107.2111.0106.0

105.8113.3119.7121.2123.4

124.4124.2

126.0125.5125. 7122.0120.7121.5

122.7124.1126.1126.0126.2126.3

126.9127.4126.8123.3122.3121.2

121.9122.6123.2124.7124.9124.7

96.2104.0

104.3116.9113.5114.1114.8

117.0122.1125.1125.3127.0

127.0126.1

127.5127.4127.5127.6127.1127.0

127.0126.8126.8126.6126.5126.4

126.7126.7126.9126.9126.3125.8

125.6125.5125.7125.4125.8126.1

96.4104.0

104.5118.4113.4,115.2115.4

118.2123.7126.9127.2129.0

128.9127.4

129.5129.5129.4129.5129.2129.1

129.0128.7128.5128.4128.1127.9

127.8127.8127.9127.9127.8127.4

127.1127.1127.0127.0126.9127.0

102.8106.091.2

94.9105.7101.5101.8100.9

97.798.099.9

102.298.5

99.3102.3

97.497.297.998.398.699.0

100.199.8

100.0100.7101.7101.3

102.4103.6103.9103.7103.0102.0

101.6101.4101.3101.7101.4101.8

99.2105.095.8

100.5116.5104.8104.0102.3

102.7104.3105.7104.7106.4

106.5104.1

106.9106.9106.8106.9106.8106.8

106.9106.5106.2105.9105.5105.2

104.9104.8104.8104.8104.5104.1

103.6103.7103.5103.6103.6103.6

91.2103.0105.8

111.9124.3124.6130.1133.1

139.7148.5153.2154.3157.9

158.1155.9

159.0159.0158.9159.0158.8158.4

158.1157.8157.7157.2156.7156.6

155.5155.4155.4155.6156.0156.0

156.2156.4156.4156.0155.8155.9

94.4101.9103.8

107.6122.2122.5124.7125.3

130.9142.9148.3149.5151.5

150.7149.1

152.1152.4152.0152.0150.8150.3

150.1150.0149.8149.8149.5149.3

150.0150.1150.0149.3149.2149.1

149.1148.5148.4148.5148.5148.8

93.3103.2103.5

108.9119.1118.3120.2120.9

125.6132.0132.9132.9136.5

135.5133.6

137.2137.1136.9136.7136.4135.8

135.3134.8134.6134.2133.9133.7

133.7133.5133.5134.3134.1134.1

134.0133.6133.5133.2133.1133.1


256


T A B L E B - 4 1 . — Wholesale price indexes, by stage of processing, 1947-61—Continued

[1947-49=100]

Year or month

Finished goods

Total

Consumer finished goods

Total FoodsOthernon-

durablegoods

Du-rablegoods

Pro-ducer

finishedgoods

Special groups of industrialproducts

Crudemate-rials 2

Inter-mediate

materials,supplies,and com-ponents »

Con-sumer

finishedgoods ex-

cludingfoods

1947 -..19481949

19501951195219531954

1955_._1956195719581959

19601961*


JulyAugustSeptemberOctoberNovember.December.


JulyAugustSeptember-OctoberNovemberDecember 4

95.9103.5100.6

102.4112.1111.5110.4110.7

110.9114.0118.1120.8120.6

121.5121.5

120.6120.5121.4121.4121.2121.1

121.8121.5121.5122. 4122.7122.2

122.4122.6122.2121.3120.7120.6

121.2121.4121.3121.3121.4121.6

104.199.2

100.9110.3109.0107.1107.1

106. 4108.0111.1113.5112.5

113.6113.4

112.4112.3113.4113.4113.2113.1

113.9113.6113.7114.7114.9114.4

114.5114.8114.3113.3112.5112.4

113.1113.3113.2113.2113.2113.5

97.0105.897.2

99.2111. 3110.4104.6103.8

101.1101.0104.5110.5105.5

107.7107.2

104.8104.7107.4107.5107.5106.9

108.4107.1108.2110.1110.4109.0

109.1109.5108.6106.8105.7105.0

106.8107.2106.9107.1106.8107.1

97.4103.599.2

100.8108.5105.9106.9107.2

107.8109.9112.4111.7113.4

114.1114.2

113.9113. 8113.8113.7113.2113.6

114.1114.6114.8114.8114.7114.7

114.9115.2115.0114.2113.5113.8

113.9114.0113.9113.8114.1114.5

94.8101.3104.0

105.0112.1113.0113.8114.7

115.9119.7123.3125.0126.5

126.0125.5

126.4126.4126.5126.5126.3126.2

126.3126.2123.6125.7125.8125.8

125.8125.6125.5125.5125.5125.6

125.6125.5125.5125.3125.4125.4

92.8101.1106.1

108.7119.3121.3123.1124.7

128.5138.1146.7150.3153.2

153.5153.9

153.8153.8153.9153.6153.3153.4

153.6153.7152. 5153.4153.6153.8

154.0153.9153.8153.7153.7153.9

153.8153.8153.8154.0154.1154.3

92.9108.5

109.9120.8109.3108.5103.3

113.4120.0118 3113.7120.0

115.3114.1

121.4119.2116.8116.2116.0115.2

114.8114.4114.2112.7111.8111.0

111.3112.1113.3113.3113.3113.6

114.4115. 8116.4117.0114.1114.2

95.3103.7101.0

105.7118.5114.7116.2116.7

120.1126.0129.3129.1131.2

131.7130.0

132.1132.2132.2132.2131.9131.8

131.7131.6131.5131.3131.0130.9

130.8130.7130.7130.6129.9129.8

129.6129.5129.8129.6129.7129.8

96.6102.8100.6

102.1109.6108.0108.9109.4

110.2112.8115.7115.8117.3

117.8117.6

117.7117.6117.6117.6117.2117.4

117.8118.1117.4118.1118.0118.0

118.2118.3118.1117.6117.1117.3

117.4117.4117.4117.3117.5117.7

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

NOTE.—For a listing of the commodities included in each sector and their relative importance, see MonthlyLabor Review, December 1955 and Wholesale Prices and Price Indexes, 1958 (BLS Bulletin No. 1257).


257


TABLE B—42.—Consumer price indexes, by major groups, 1929-61

For city wage-earner and clerical-worker families

[1947-49=1001

Year or month Allitems

73.3

71.465.058.455.357.2

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.2123.5124.6

126.5127.8

125.4125.6125.7126.2126.3126.5

126.6126.6126.8127.3127.4127.5

127.4127.5127.5127.5127.4127.6

128.1128.0128.3128.4128.3

Food

65.6

62.451.442.841.646.4

49.750.152.148.447.1

47.852.261.368.367.4

68.979.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4120.3118.3

119.7121.1

117.6117.4117.7119.5119.7120.3

120.6120.1120.2120.9121.1121.4

121.3121.4121.2121.2120.7120.9

122.0121.2121.1120.9120.3

Housing

Total

(0

0)0)(00)0)71.872.875.476.676.1

76.478.381.882.884.7

86.188.395.0

101.7103.3

106.1112.4114.6117.7119.1

120.0121.7125.6127.7129.2

131.5132.5

130.7131.2131.3131.4131.2131.3

131.3131.5132.0132.2132.1132.3

132.3132.4132.5132.3132.2132.4

132.4132.3132.6132.7132.9

Rent

117.4

114.2108.297T183.678.4

78.280.183.886.586.6

86.988.490.490.390.6

90.991.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.2137.7139.7

141.8143.5

140.9141.0141.2141.4141.4141.6

141.8141.9142.1142.5142.7142.8

142.9143.1143.1143.3143.4143.5

143.6143.6143.9144.1144.2

Ap-parel

60.3

58.953.647.545.950.2

50.651.053.753.452.5

53.255.664.967.872.6

76.383.797.1

103.599.4

98.1106.9105.8104.8104.3

103.7105.5106.9107.0107.9

109.4110.1

107.9108.4108.8108.9108.9108.9

109.1109.3110.6111.0110.7110.6

109.4109.6109.8109.5109.6109.6

109.9109.9111.1111.4111.2

Trans-porta-tion

0)

(00)0)(00)69.670.271.371.970.2

69.872.278.578.278.2

78.182.190.6

100.9108.5

111.3118.4126.2129.7128.0

126.4128.7136.0140.5146.3

146.2147.8

147.6147.5146.5146.1145.6145.8

145.9146.2144.7146.1146.5146.5

146.2146.2145.7145.8146.6147.7

148.3149.3149.4153. Z150.5

Medi-cal

care

0)

0)(00)0)0)71.471.672.372.572.6

72.773.175.178.781.2

83.187.794.9

100.9104.1

106.0111.1117.2121.3125.2

128.0132.6138.0144.6150.8

156.2160.7

153.5154.7155.0155.5155.9156.1

156.4156.7156.9157.3157.9158.0

158.5159.4159.6159.9160.4160.9

161.2161.4161.7162.3162.4

Per-sonalcare

0)

0)0)0)0)0)54.655.358.559.859.6

59.561.066.973.879.0

81.587.497.6

101.3101.1

101.1110.5111.8112.8113.4

115.3120.0124.4128.6131.2

133.3134.0

132.7132.6132.7132.9133.2133.2

133.4133.8133.9134.0133.9133.7

133.7133.8133.6133.8133.8133.9

134.3134.2134.3134.0134.3

Read-ing andrecrea-tion

(0

(00)0)(00)58.159.160.862.963.0

64.166.469.575.383.4

86.889.795.5

100.4104.1

103.4106.5107.0108.0107.0

106.6108.1112.2116.7118.6

121.5124.0

120.3120.6120.9121.1121.4121.1

121.6121.9122.1121.9122.5122.3

122.2122.7123.4124.1123.9123.5

124.1124.4125.0125.4125.2

Othergoodsand

services

1929

19301931193219331934

1935.193619371938 ._1939

19401941 J194219431944

1945..1946194719481949

19501951195219531954

19551956._195719581959

I960-1961 2_ -

1960: January. __February..MarchAprilMayJune

JulyAugustSeptember.October.. -November.December.

1961: January.._February..MarchAprilMayJune

JulyAugust.SeptemberOctober...November

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

258


TABLE B-43.—Consumer price indexes, by special groups, 1935-61

For city wage-earner and clerical-worker families

[1947-49=100]

Yew or month

1935193619371938..1939.

1940... _19411942...19431944-.

1945 - -1946 ._19471948-..1949

19501951195219531954

1955-.-1956-19571958 -1959

19601961 L —


July-August-SeptemberOctoberNovemberDecember


July . ._ .August —SeptemberOctoberNovember

Allitems

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.2123.5124.6

126.5127.8

125.4125.6125.7126.2126.3126.5

126.6126.6126.8127.3127.4127.5

127.4127.5127.5127.5127.4127.6

128.1128.0128.3128.4128.3

Allitemslessfood

65.866.568.969.669.1

69.471.476.478.581.5

83.487.095.1

101.9103.0

104.2110.8113.5115.7116.4

116.7118.8122.8125.5127.9

130.0131.4

129.4129.7129.7129.8129.7129.7

129.9130.1130.3130.7130.8130.8

130.6130.8130.9130.8131.0131.2

131.4131.6132.0132.3132.4

Allitemslessshel-ter

55.556.258.056.455.4

55.859.166.671.672.9

74.882.395.6

103.1101.3

102.0110.5112.7113.1113.0

112.4114.0117.8121.2122.2

124.0125.3

122.9123.0123.1123.7123.8124.0

124.2124.1124.3124.8125.0125.0

124.8125.0125.0125.0124.9125.2

125.7125.6125.8126.0125.8

Commodities

Allcom-modi-

ties

52.052.754.752.751.6

52.155.763.869.470.2

72.380.196.3

103.2100.6

101.2110.3111.7111.3110.2

109.0110.1113.6116.3116.6

117.5118.3

116.7116.7116.7117.4117.3117.6

117.7117.6117.7118.2118.3118.4

118.0118.1118.0117.9117.7118.0

118.7118.4118.7118.8118.5

Commodities less food

Food

49.750.152.148.447.1

47.852.261.368.367.4

79.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4120.3118.3

119.7121.1

117.6117.4117.7119.5119.7120.3

120.6120.1120.2120.9

121.3121.4121.2121.2120.7120.9

122.0121.2121.1120.9120.3

All

57.357.960.460.459.4

59.862.769.872.776.7

79.784.795.7

102.9101.5

101.3108.9109.8110.0108.6

107.5108.9112.3113.4115.1

115.7115.9

115.9116.0115. 7115.6115.3115.3

115.4115.5115.6115.9115.9115.9

115.4115.5115.4115.2115.3115.6

116.0116.1116.6117.0116.9

Dura-bles

53.354.157.558.557.3

56.860.768.971.277.8

83.787.594.9

101.8103.3

104.4112.4113.8112.6108.3

105.1105.1108.8110.5113.0

111.6111.2

113.3113.3112.5112.1111.9111.5

111.1111.0110.0110.9110.7110.8

110.2110.3109.9110.7110.8111.2

111.5111.9111.9112.7112.6

Non-dura-bles

57.157.659.959.658.7

59.361.868.471.374.9

77.683.395.7

103.1101.1

100.9108.5109.1110.1110.6

110.6113.0116.1116.9118.3

120.1120.7

119.2119.4119.6119.7119.4119.6

119.9120.1120.9120.9121.1121.0

120.5120.6120.7120.0120.0120.3

120.6120.7121.5121.5121.5

Services

Allserv-ices

75.676.478.780.380.4

80.681.684.285.887.9

89.090.894.5

100.4105.1

108.5114.1119.3124.2127.5

129.8132.6137.7142.4145.8

150.0152.7

148.2148.9149.2149.4149.6149.7

150.0150.3150.8151.2151.3151.4

151.7151. 9152.2152.3152. 5152.7

152.8153.0153.2153.4153.7

Rent

78.280.183.886.586.6

86.988.490.490.390.6

90.991.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.2137.7139.7

141.8143.5

140.9141.0141.2141.4141.4141.6

141.8141.9142.1142.5142.7142.8

142.9143.1143.1143.3143.4143.5

143.6143.6143.9144.1144.2

Allserv-

lessrent

72.672.272.973.573.5

73.674.577.881.385.2

87.090.294.7

100.1105.2

108.1114.6120.1124.6127.7

130.1133.0138.6143.8147.5

152.1155.0

150.1150.9151.3151.5151.7151.8

152.1152.5153.0153.4153.6153.6

154.0154.2154.6154.7154. 9155.0

155.2155.4155.6155.8156.1

i January-November average.


259


MONEY SUPPLY, CREDIT, AND FINANCETABLE B-44.—Money supply, 1947-61

[Averages of daily figures, billions of dollars]

Year and month

1947: December..1948: December..1949: December..

1950: December.,.1951: December. _1952: December..1953: December..1954: December..

1955: December. .1956: December..1957: December.-1958: December..1959: December..

1960: December..1961: December 2_

1960: January _February.MarchAprilMayJune

JulyAugustSeptember-OctoberNovember..December..

1961: January..February.MarchAprilMayJune

JulyAugustSeptember. _OctoberNovember..December 2.

Money supply

Seasonally adjusted

Total

112.3110.7110.1

115.3122.0126.5128.1131.8

134.6136.5135.5140.8141.5

140.4144.9

141.3141.0140.6140.5139.9139.4

139.6139.7140.4140.6140.2140.4

140.6141.2141.5142.0142.0142.1

142.0141.8143.0143.7144.1144.9

Currencyoutsidebanks

26.425.825.2

25.026.227.427.727.4

27.828.228.328.628.9

29.029.5

29.029.029.029.129.028.9

28.928.929.029.029.029.0

28.928.929.029.029.028.9

29.029.029.229.329.429.5

Demanddepos-its i

85.884.985.0

90.395.899.1

100.4104.4

106. 8108.3107.2112.2112.6

111.4115.4

112.3112.1111.6111.4110.9110.5

110.7110.8111.5111.6111.2111.4

111.7112.3112.6113.0113.0113.2

113.0112.8113.8114.4114.6115.4

Unadjusted

Total

115.0113.3112.7

118.1125.1129.8131.4135.0

137.9139.7138.8144.3144.9

143.8148.5

144.4140.8139.3140.1138.0138.0

138.7138.9139.7140.6141.4143.8

143.7140.9140.1141.7140.0140.7

141.1141.1142.4143.6145.3148.5

Currencyoutsidebanks

26.826.125.5

25.426.627.828.227.9

28.328.728.929.229.5

29.530.1

28.828.628.728.828.828.9

29.129.029.129.129.229.5

28.828.628.628.728.728.9

29.229.229.329.429.730. 1

Demanddepos-

i t s 1

88. 287.287.3

92.798.6

102.0103.3107.1

109.6111.0109.9115.1115.5

114.3118.4

115.6112.2110.6111.4109.2109.1

109.6109.8110.7111.5112.2114.3

114.9112.3111.4113.0111.3111.8

111.9111.9113.1114.2115.6118.4

Related deposits(unadjusted)

Grosstime

35.335.936.3

36.638.341.344.748.5

50.051.857.165.167.0

72.582.3

67.066.867.367.968.268.6

69.570.371.271.872.072.5

73.775.175.976.978.179.0

79.980.781.382.082.082.3

U.S.Govern-ment

1.01.82.8

2.42.74.93.85.0

3.43.43.53.94.9

4.74.9

4.14.14.33.76.36.3

6.76.15.45.75.84.7

4.14.84.72.94.64.5

4.35.55.26.55.84.9

1 Demand deposits at all commercial banks (member and nonmember).2 Preliminary.NOTE.—Between January and August 1959, the series were expanded to include data for all banks in

Alaska and Hawaii.Source: Board of Governors of the Federal Reserve System.

260


TABLE R-45.—Loans and investments of all commercial banks, 1929—61

[Billions of dollars, end of period]

Year or month 1

Totalloansand

invest-ments

Loans

Total 2 Businessloans 3

Investments

TotalU.S. Gov-ernment

obligations •Other

securities

1929—June 5_.

1930—June 5_.1931—June »..1932—June «..1933—June «..1934—June «..

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

19401941194219431944

194519461947—19481949

19501951195219531954

19551956 -1957. . .19581959

1960196U1960: January.._

February _MarchAprilMayJune^ yAugustSeptember..OctoberNovember..December..

1961: JanuaryFebruary B.MarchAprilMayJuneJulyAugustSeptember...October 8November 8_.December 8 . .

49.448.944.936.130.432.736.139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3114.3120.2126.7132.6141.6145.7155.9160.9165.1170.1185.2190.3199.5215.6187.8186.5185.7188.8188.6188.9190.9191.2193.3195.6195.5199.5197.0199.3198.0199.7201.2202. 5205.1205.1210.0210.3211.3215.6

35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.543.052.257.764.267.670.682.690.393.998.2

110.8117.6125.2109.6110.3111.4113.0113.6114.8114.2114.7115.4114.8115.0117.6114.2116.7116.6117.2117.9118.6118.1118.5120.8120.5121.7125.2

5.76.47.39.37.97.98.09.6

14.218.218.917.121.925.927.927.226.933.238.740.540.440.2

43.144.439.439.840.940.941.341.941.241.241.841.842.343.141.541.842.842.442.342.842.342.542.943.143.544.4

13.714.415.714.314.017.020.923.121.222.323.425.129.048.266.083.997.982.978.271.877.274.474.977.578.185.378.374.876.287.079.481.990.478.276.374.375.975.074.176.776.677.880.880.581.982.882.681.482.583.384.087.086.789.289.889.690.4

4.95.06.06.27.5

10.3

13.815.314.215.116.317.821.841.459.877.690.674.869.262.667.062.061.563.363.469.061.658.658.266.458.961.066.558.056.254.255.855.154.256.756.657.760.460.261.061.961.359.760.761.561.964.764.266.066.666.266.5

8.79.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2

10.212.413.314.114.716.316.716.317.920.620.520.923.920.320.120.120.019.819.920.020.020.220.420.320.920.921.321.721.821.922.122.322.523.223.223.423.9

1 End-of-year figures (except 1961) are for call dates. Other data (including those for December 1961)are for the last Wednesday of the month.

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

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

4 Figures in this table are based on book values and relate only to banks within the United States.Therefore, they do not agree with figures in Table B-53, which are on the basis of par values and includeholdings of banks in United States Territories and possessions.

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

6 Not available.7 Beginning June 1959, business loans exclude loans to financial institutions.8 Preliminary; December estimates by Council of Economic Advisers.9 Data for March 1, 1961 used instead of last Wednesday of February.

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

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

26l


T A B L E B-46.—Federal Reserve Bank credit and member bank reserves, 1'920-67

[Averages of daily figures, millions of dollars]

Year and month

1929: December

1930: December1931: December1932: December1933: December1934: December






1960: December1961: December

I960* JanuaryFebruaryMarchAprilMayJune


1961* JanuaryFebruaryMarchApril. .-MayJune

JulyAugust.SeptemberOctober ___NovemberDecember

Reserve Bank credit outstanding

Total

1,643

1,2731,9502,1922,6692,472

2,4942,4982,6282,6182,612

2,3052,4046,035

11,91419, 612

24, 74424, 74622, 85823,97819, 012

21, 60625,44627,29927,10726, 317

26,85327,15626,18628, 41229,435

29,06031,217

28, 23427,21027, 04727,18127, 37827, 737

28,17628,20628, 08828, 49029,24129, 060

28,48428,14528.03027,92528,00728,304

28,49828, 66129,08029,50430,14231,217

U.S.Govern-ment se-curities

446

644777

1,8542,4322,430

2,4302,4342,5652,5642,510

2,1882,2195,549

11,16618, 693

23, 70823, 76721, 90523,00218, 287

20, 34523, 40924,40025, 63924, 917

24,60224,76523,98226, 31227, 036

27.24829,098

25, 93425, 32225, 31025, 48825, 81826,124

26, 61926, 98326, 65327,05627,87127, 248

26.94226 82926,83126,67626. 74726, 935

27 02427,41527, 56328. 04428, 61629, 098

Memberbank

borrow-ings

801

3377632819510

67

1673

354

90265

334157224134118

142657

1,593441246

839688710557906

87149

905816635602502425

38829322514914287

4913770569663

51673765

105149

Allother,

mainlyfloat

396

292410

5714232

5857474799

114180483659654

702821729842607

1,1191,3801,3061,0271,154

1,4121,7031,4941,5431,493

1,7251,970

1,3951,0721,1021,0911,0581,188

1,169930

1,2101,2851,2281,725

1,4931,1791,1291,1931,1641,306

1,4231,1791,4801,3961,4201,970

Member bank reserves

Total

2,395

2,4152,0692,4352,5884,037

5,7166,6656,8798,745

11, 473

14,04912,81213,15212, 74914,168

16,02716, 51717, 26119, 99016, 291

17, 39120,31021,18019, 92019, 279

19,24019. 53519,42018, 899

218,932

19,2833 20,118

18, 87818,21318,02718,10418,23918,294

18, 51818, 50118, 57018, 73319, 00419,283

19 31518.96418,80918,88418,85619,042

19,06319,22319, 37219, 66019, 832

3 20,118

Re-quired

2,347

2,3422,0101,909

i 1,8222,290

2,7334,6195,8085,5206,462

7,4039,422

10, 77611, 70112, 884

14, 53615, 61716,27519,19315,488

16, 36419,48420,45719, 22718, 576

18,64618, 88318,84318, 38318, 450

18, 527319, 545

18,34817, 76217, 61117,69617, 77017, 832

18,01017,96117, 93118,10418, 24818, 527

18,57018, 31018,26318, 26618, 30718, 430

18,48218,61918, 78319,15319,218

319,545

Excess

48

7360

5261766

1,748

2,9832,0461,0713,2265,011

6,6463,3902,3761,0481,284

1,491900986797803

1,027826723693703

594652577516482

7563 572

530451416408469462

508540639629756756

745654546618549612

581604589507614

3572

Memberbank freereserves(excess

reservesless bor-rowings)

-753

-264-703

245671

1,738

2,9772,0391,0553,2195,008

6,6433,3852,372

9581,019

1,157743762663685

885169

-870252457

-245- 3 6

-133- 4 1

-424

6693 423

-375-365-219-194- 3 3

37

120247414480614669

696517476562453549

530537552442509

3 423

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.


262


TABLE B-47.—Bond yields and interest rates, 1929-61

[Percent per annum]

Year or month3-monthTreas-ury-

bills i

U.S. Governmentsecurities

9-12monthissues2

Taxablebonds3

Corporate' bonds

(Moody's)

Aaa Baa

Commonstock

yields,200

stocks(Moody's)

High-grade

munic-ipal

bonds(Stand-ard &Poor's)

Averagerate onshort-vcrmbankloans

to busi-n e s s -

selectedcities

Primecom-mer-cial

paper,4-6

months

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.00

i 1.00U.007 1.00

n.oou.oo

1.001.341.50

1.591.751.751.991.60

1.892.773.122.163 36

3.533.00

2.502.502.923.003.053.50

3.503.503.834.004.004.00

1929

1930193119321933._. -1934

193519361937 —19381939

19401941194219431944

19451946194719481949...

19501951 f195219531954

1955..195619571958,1959

19601961

1959: JanuaryFebruaryMarch. _AprilMayJune

JulyAugust __SeptemberOctoberNovemberDecember

)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

2.9282.378

2.8372.7122.8522.9602.8513.247

3.2433.3583.9984.1174.2094.572

00(5)

()0.75.79

.81

.82

.881.141.14

1.261.731.812.07.92

1.892.833.532.094.11

3.552.91

3.263.383.563.663.923.97

4.304.324.804.654.704.98

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.473.434.08

4.023.90

3.913.923.924.014.084.09

4.114.104.264.114.124.27

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

4.414.35

4.124.144.134.234.374.46

4.474.434.524.574.564.58

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

5.195.08

4.874.894.854.864.965.04

5.085.095.185.285.265.28

3.41

4.546.177.364.424.11

4.063.504.774.384.15

5.316.256.674.894.81

4.193.975.135.786.63

6.276.125.505.494.78

4.064.074.334.053.31

3.603.07

3.363.413.433.293.253.28

3.183.193.343.363.383.28

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 933̂ 603.563.95

3.733.46

3.873.853.763.843.974.04

4.043.964.133.993.944.05

()2.12.12.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.64.3

8 5.0

5.25.0

4.51

'I'sY

8 5.27

~5.~36"

5.85

3.592.642.731.731.02

.75

.75

.94

.81

.59

.56

.53

.73

.75

.811.031.441.49

1.452.162.332.521.58

2.183.313.812.463,97

3.852.97

3.303.263.353.423.563.83

3.983.974.634.734.674.88


263


TABLE B-47.—Bondyields and interest rates, 7929-61

[Percent per annum]

Continued

Year or month3-monthTreas-

urybills i

U.S. Governmentsecurities

9-12monthissues'

Taxablebonds 3

Corporatebonds

(Moody's)

Aaa Baa

Commonstock

yields,200

stocks(Moody's)

High-grade

munic-ipal

bonds(Stand-ard &Poor's)

Averagerate onshort-termbankloans

to busi-n e s s -

selectedcities

Primecom-mer-cial

paper4-6

months

Fed-eralRe-

serveBank

dis-countrate

1960: January. . .February-.MarchAprilMayJune

JulyAugustSeptemberOctoberNovember.December .

1961: January. . .February-MarchApril.MayJune

JulyAugustSeptemberOctober...November.December.

4.4363.9543.4393.2443.3922.641

2.3962.2862.4892.4262.3842.272

2.3022.4082.4202.3272.2882.359

2.2682.4022.3042.3502.4582.617

4.934.583.933.994.193.35

3.132.892.993.012.992.79

2.702.842.862 832.823.02

2.873.033.032.972.953.03

4.374.224.084.184.16

3.863.793.843.913.933.88

3.893.813.783.803.733.88

3.904.004.023.983.984.06

4.614.564.494.454.464.45

4.414.284.254.304.314.35

4.324.274.224.254.274.33

4.414.454.454.424.394.42

5.345.345.255.205.285.26

5.225.085.015.115.085.10

5.105.075.025.015.015.03

5.095.115.125.135.115.10

3.563.533.593.683.603.52

3.603.503.733.743.603.49

3.283.223.153.153.093.16

3.053.003.032.952.932.90

4.133.973.873.843.853.78

3.723.533.533.593.463.45

3 443.333.383.443.383.53

3.533.553.543.463.443.49

5.34

~5.~35~

4.97

~4.~99'

4.97

~4.~97'

4.99

4.914.664.494.164.253.81

3.393.343.393.303.283.23

2 983.033.032.912.762.91

2.722.923.053.002.983.19

4.004.004.004.004.003.65

3.503.183.003.003.003.00

3.003 003.003.003.003.00

3.003.003.003.003.003.00

1 Rate on new issues within period. Issues were tax exempt prior to March 1, 1941, and fully taxablethereafter. For the period 1934-37, series includes issues with maturities of more than 3 months.

2 Includes certificates of indebtedness and selected note and bond issues (fully taxable).3 First issued in 1941. Series includes 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.

* Treasury bills were first issued in December 1929 and were issued irregularly in 1930.5 Not available before August 1942.« Not available on same basis as for 1939 and subsequent years.i 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.8 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.

264


T A B L E B—48.—Short- and intermediate-term consumer credit outstanding, 7929—61

[Millions of dollars]

End of year or month Total

Instalment credit

TotalAuto-mobilepaper 1

Othercon-

sumergoods

paper l

Repairandtodern-zationloans 2

Per-sonalloans

Noninstalment credit

TotalCharge

ac-counts

Other 3

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 5-

1960: January . . .February.MarchAprilMayJune

JulyAugustSeptember.OctoberNovember.December..

1961: January.. .February.MarchAprilMayJune

JulyAugustSeptember..OctoberNovember...December 5_

6,444

5,7674,7603, 5673,4823,904

4,9116,1356,6896,3387,222

8,3389,1725,9834,9015,111

5,6658,384

11,59814, 44717,364

21,47122, 71227, 52031,39332,464

38, 80742, 26244, 84844, 98451, 331

55, 75756, 850

50, 72850, 49450, 63451, 67252,33253,026

53, 23153, 59453, 85253,97954, 29855, 757

54, 72653,84353, 64153, 75654,19654,602

54, 50554, 73954, 75754,90255, 45156,850

3,151

2,6872,2071,5211,5881,871

2,6943,6234,0153,6914,503

5,5146,0853,1662,1362,176

2,4624,1726,6958,996

11, 590

14, 70315,29419,40323,00523,568

28,88331, 64833,74533,49739, 034

42, 58843,100

38,92138,96239,18939, 78340, 24640,859

41,20141, 58041, 77441,85941,99642,588

42,12241,66241, 46541, 42341, 58441, 888

41,90942, 09042,03942,18142, 41943,100

1,497

2,0712,458

742355397

455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13,43714, 34815, 21814, 00716,209

17, 44416,950

16,17616, 27316, 46216, 79417,03917,348

17, 47617, 59817, 59517, 55317, 54417, 444

17, 22017, 01716, 92216,87716,93317, 061

17, 06317, 06116,90216,91316, 96016,950

1,620

1,8271,9291,195819791

8161,2902,1432,9013,706

4,7994,8806,1746,7796,751

7,6418,6068,8449,028

10, 630

11, 52511,700

10, 54710,42310,36510, 43710, 50110,634

10,66810, 73110,82010, 90911,00311, 525

11,36511,13611, 00710, 91510, 92910,966

10,93410, 96611,00611,08511,21511, 700

298

371376255130119

182405718853898

1,0161,0851,3851,6101,616

1,6931,9052,1012,3462,809

3,1393,200

2,8002,8122,8312,8712,9352,984

3,0203,0743,1093,1293,1443,139

3,1003,0753,0663,0733,1003,122

3,1333,1653,1803,1833,1923,200

1,088

1,2451,322974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,392

6,1126,7897,5828,1169,386

10,48011, 250

9,3989,4549,5319,6819,7719,893

10,03710,17710, 25010,26810,30510,480

10,43710,43410,47010, 55810,62210, 739

10,77910, 89810,95111,00011,05211, 250

3,293

3,0802,5532,0461,8942,033

2,2172,5122,6742,6472,719

2,8243,0872,8172,7652,935

3,2034,2124,9035,4515,774

6,7687,4188,1178,3888,896

9,92410, 61411,10311,48712,297

13,16913, 750

11, 80711, 53211, 44511,88912, 08612,167

12,03012, 01412,07812,12012,30213,169

12,60412,18112,17612,33312,61212, 714

12, 59612,64912,71812, 72113,03213, 750

1,602

1,4761,2651,020990

1,102

1,1831,3001,3361,3621,414

1,4711,6451,4441,4401,517

1,6122,0762,3812,7222,854

3,3673,7004,1304,2744,485

4,7954,9955,1465,0605,104

5,3295,550

4,6254,1804,0164,3284,4354,529

4,4134,3904,4114,5044,6055,329

4,7214,1324,0964,2034,3804,474

4,3974,4094,4234,5174,6845,550

1,691

1,6041,2881,026904931

1,0341,2121,3381,2851,305

1,3531,4421,3731,3251,418

1,5912,1362,5222,7292,920

3,4013,7183,9874,1144,411

5,1295,6195,9576,4277,193

7,8408,200

7,1827,3527,4297,5617,6517,638

7,6177,6247,6677,6167,6977,840

7,8838,0498,0808,1308,2328,240

8,1998,2408,2958,2048,3488,200

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.* Not available.5 Preliminary estimates by Council of Economic Advisers.NOTE.—Series revised beginning 1955. For details, see Federal Reserve Bulletin, December 1961.Data for Alaska and Hawaii included beginning January and August 1959, respectively.Source: Board of Governors of the Federal Reserve System (except as noted).

265


TABLE B-49.—Instalment credit extended and repaid, 1946-61


PeriodTotal

Ex- Re-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

1946-1947-19481949195019511952195319541955-1956195719581959I9601961 i

1960: JanuaryFebruaryMarchApril - .May__June

1961

JulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchAprilMayJune

July .AugustSeptember....OctoberNovemberDecember1 . . .

1960: J a n u a r y . . .FebruaryMarchAprilMayJuiie

1961:


January .FebruaryMarchAprilMayJune

July.AugustSeptemberOctoberNovemberDecember L —

8,49512,71315, 58518,10821, 55823, 57629, 51431, 55831, 05138, 94439, 77541,87139,96247,81849,31348,025

3,5113,6694,1394,3924,2694,4944.0754,3043,9753,9413,9984,5473,4263,1833,9073,7214,2034,3473,9054,2343, 7894,2444,2754,800

4,1124,1554,1404,3504,1274,1214,1414,0484,0894,0344,0183,9843,8663,8123,8943,8003,9073,-9623,9094,0383,9424,2094,3174,275

6,78510,19013, 28415, 51418.44522, 98525,40527, 95630,48833,62937,00939, 77540,21142,43545, 75947, 525

1,9693,6925,2176,9678,5308,95611, 76412, 98111,80716, 70615,42116,32114,06917,54417,40815,800

1,4432,7494,1235,4307,0119,05810,00310,87911, 83313,07714,51015,45115,28115,41116.17216,300

3,0774,4985,3835,8657,1507,4859,1869,2279,11710,64211, 72111,80711, 74713,98214,47014,450

2,6033,6454,6255,0606,0577,4047,8928,6229,1459,75210, 75611,56911,56312,40213,57414,275

423704714734835841

1,2171,3441,2611,3931,5821,6741,8712,2222,2122,050

200391579689717772917

1,1191,2551,3161,3701,4771,6261,7651,8832,000

3,0263,8194,2714,5425,0436,2947,3478,0068,86610,20311,05112.06912,27514.07015,22315,725

Unadjusted

3,6243,6313,9153,7953,8023,8823,7313,9273,7793,8553,8673,9523,8953,6434,1043,7644,0434,0423,8854,0533,8394,1024,0374,100

1,2421,3871,5911,6541,6161,6851,4341,5341,3361,3651,3441,2201,1301,0491,3231,2431,4491,5151,3651,3951,1681,4521,4021,325

1,2751,2911,4031,3221,3691,3781,3061,4141,3391,4051,3541,3191,3541,2521,4181,2901,3941,3871,3621,3961,3271,4411,3551,325

1,042976

1,1071,2071,1931,2811.1181,2011,2071,2291,2361,6761,031888

1,1111,0731,2211,2361,1131,2291,2001,3001,3271,700

1,1241,1011,1651,1341,1281,1481,0821,1361,1181,1401,1441,1521,1931,1161,2421,1641,2071,1991,1451,1981,1591,2211,1971,200

135159177191218213193219192185176154127127161166200196175206184186177150

144148159151153163157166156165163158167152169159173174165174169183168150

1,0921,1471,26413401,2421,3151,3301,3501,2401,1621,2421,4971,1381,1191,3121,2391,3331,4001,2521,4041,2371,3061,3691,625

Seasonally adjusted

3,7493,6863,7333,8203,8223,8223,8733,8223,8633,8623,8563,8663, 8753,8893,9073,9073,8953,9623,9373,9943,9564,0284,0174,075

1,4611,5231,5271,5821,4881,457

1,3901,4041,4171,3991,4081,3511.2861,2161,2551,2251,2701,2961,3001,3021,2711,4051,5111,450

1,3371,3211,3371,3441,3681,3551,3431,3531,3551,3651,3581,3481,3561,3531,3481,3561,3361,3541,3641,3621,3501,3721,3591,375

1,2351,2081,1881,2761,1881,2271,1991,1711,2031,2041,1741,2071,1791,1651,1881,1621,1731,1751,1841,2121,1991,2541,2491,250

1,1221,0851,1011,1281,1401,1411,1411,1321,1431,1511,1381,1531,1631,1511,1761,1891,1661,1881,1831,1971,1901,2101,1881,200

170190189189203194187196181175174166155157172167181177167186175173174175

149150155153154160160161155163162162167160164165169171165170170178166175

1,2461,2341,2361,3031,2481,2431,3651,2771,2881,2561,2621,2601,2461,2741,2791,2461,2831,3141,2581,3381,2971,3771,3831,400

2,5393,4053,9574,3354,6605,7516,5937,3368,2559,484

10,37311,27811,74112,85714,13014,950

1,0811,0911,1881,1881,1521,1931,1861,2111,1661,1451,2061,3231,1811,1231,2751,1511,2691,2821.2131,2851,1841,2571,3171,425

1,1411,1301,1401,1951,1601,1661,2291,1761,2101,1831,1981,2031,1891,2251,2191,1971,2241,2491,2251,2651,2461,2681,3041,325

1 Preliminary; December by Council of Economic Advisers.

NOTE.—See also Table B-48.Series revised beginning 1955. For details, see Federal Reserve Bulletin, December 1961.Data for Alaska and Hawaii included beginning January and August 1959, respectively. Therefore, the

difference between extensions and repayments for January and August 1959 and for the year 1959 does notequal the net change in credit outstanding.

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

266


TABLE B—50.—Mortgage debt outstanding, by type of property and of financing, 1939—61


End of year or quarterAll

prop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.6171.9190.9

206.2223.1

176.0181.5186.6190.9

194.5198.5202.6206.2

209.3214.0219.0223.1

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.8

193.1208.9

164.6169.7174.6178.8

181.9185.7189.6193.1

196.0200.3205.0208.9

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

141.3152.9

120.5124.3128.0130.9

133.1135.9138.8141.3

143.2146.5149.9152.9

Government under-written

Total

1.8

2.33.03.74.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.250.153.8

56.459.6

51.352.153.153.8

54.555.055.756.4

57.157.858.759.6

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

26.729.6

20.921.822.923.8

24.625.226.026.7

27.428.028.829.6

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730.430.0

29.730.0

30.430.330.230.0

29.929.829.729.7

29.729.829.930.0

Con-ven-

tional 1

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

84.893.3

69.272.274.977.0

78.680.983.284.8

86.188.791.293.3

Multi-family

andcom-

mercialprop-

erties a

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

51.856.0

44.045.446.647.9

48.849.850.851.8

52.853.955.156.0

Farmprop-erties

1939

19401941194219431944

19451946 .194719481949

19501951195219531954

19551956195719581959

196019613

1959: I . . . .I I —I I I . .IV. .

1960: I . . . .I I—III_.IV. .

1961: 13...113..III 3.IV 3.

6.6

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.37.88.3

9.19.9

10.511.312.2

13.114.3

11.511.912.112.2

12.512.813.013.1

13.313.714.014.3

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary.

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

621876 O-62-18267


TABLE B-51.—Net public and private debt, 1929-61 *


End ofyear 2

1929

19301931193219331934

1935193619371938.1939

19401941194219431944

1945194619471948.1949

19501951195219531954

19551956195719581959

19601961 ». .„.

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

672.3707.5739.4783.5846.3

882.9932.6

Fed-eralGov-ern-

ment

16.5

16.518.521.324.330.4

34.437.739.240.542.6

44.856.3

101.7154.4211.9

252.7229.7223.3216.5218.6

218.7218.5222.9228.1230.2

231.5225.4224.4232.7243.2

241.0248.1

Stateandlocalgov-ern-

ment 2

13.2

14.115.516.616.715.9

16.016.216.116.016.3

16.516.315.814.914.1

13.713.614.416.218.1

20.723.325.828.633.4

38.442.746.750.955.6

60.065.0

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

402.5439.4468.2499.9547.5

581.9619.5

Corporate

Total

88.9

89.383.580.076.975.5

74.876.175.873.373.5

75.683.491.695.594.1

85.393.5

108.9117.8118.0

142.1162.5171.0179.5182.8

212.1231.7246.7259.5281. 6

295.0312.5

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

90.0100.1112.2121.2128.9

137.5146.5

Short-term

41.6

38.233.230.829.130.9

31.233.532.328.429.2

31.939.849.054.554.3

47.052.262.865.361.5

81.995.997.7

101.2100.0

122.2131.7134.6138.4152.7

157.6166.0

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

108.8119.7135.5150.4165.5

190.4207.7221.5240.4265.9

286.9307.0

Farm 3

12.2

11.811.110.19.18.9

9.08.68.69.08.8

9.19.28.98.27.7

7.27.68.6

10.811.9

12.213.615.116.917.6

18.819.520.323.324.0

25.427.2

Nonfarm

Total

60.1

59.453.346.641.540.7

40.441.742.340.942.0

43.946.441.040.543.0

47.453.062.272.381.8

96.6106.1120.3133.5147.9

171.6188.1201.2217.0241.9

261.5279.8

Mort-gage

31.2

32.030.929.026.325.5

24.724.424.324.525.0

26.027.226.826.226.1

27.032.538.745.150.6

59.467.475.283.894.6

108.7121.2131.6144.6160.9

173.9188.0

Com-mer-cialand

finan-cial4

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.8

14.812.111.912.913.9

15.816.117.818.320.8

23.924.424.326.928.8

31.535.0

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

21.422.627.431.482.5

38.942.545.345.552.1

56.056.8

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

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

NOTE.—Revisions beginning 1955 in the consumer credit data of the Board of Governors of the FederalReserve System have not yet been incorporated into this series.

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

268


GOVERNMENT FINANCE

TABLE B-52.—U.S. Government debt, by kind of obligation, 1929-61[Billions of dollars]

End of year or month

1929... —193019311932__ -1933193419351936193719381939...- —19401941194219431944..19451946194719481949195019511952195319541955 -1956195719581959196019611960: January. . .

February..MarchAprilMayJune _JulyAugustSeptember.October. _.November.December.

1961: January. . .February. .MarchAprilMayJuneJuly. .AugustSeptemberOctober...November.December.

Grosspublic

debt andguar-

anteedissues 1

16.316.017.820.824.031.535.139.141.944.447.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5291.2290.7287.0288.9289.5286.5288.5288.8288.6290.6290.6290.4290.2290.7287.7288.2290.4289.2292.6294.0294.0296.0297.3296.5

Interest-bearing public debt

Marketable publicissues

Short-term

issuesa

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

103.5109.2120.5105.1104.6100.7103.0102.5102.5105.6103.9104.0107.0109.1109.2109.5110.1105.8107.2108.0106.3

110.5111.5112.6116.0120.4120.5

Treasurybonds

11.311.313.513.414.715.414.319.520.524.026.928.033.449.367.991.6

120.4119.3117.9111.4104.894.076.979.877.281.881.980.882.183.484.879.875.584.784.784.785.185.181.281.282.382.382.379.779.879.879.880.680.980.880.880.879.779.379.375.275.5

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01.42.23.26.1

15.027.440.448.249.852.155.156.758.057.657.957.757.757.956.352.551.248.247.247.547.947.847.847.647.647.547.447.347.347.447.447.2

47.247.347.447.447.547.5

47.647.647.747.747.847.5

Treasurytax andsavingsnotes

2.56.48.69.88.25.75.44.67.68.67.55.86.04.5

8CO( e)

Invest-ment

bonds *

1.01.01.01.0

13.013.412.912.712.311.610.39.07.66.25.17.57.47.27.06.96.86.76.66.56.36.26.26.16.16.05.95.85.85.85.75.65.25.15.1

Specialissues*

0.6.8.4.4.4.6.7.6

2.23.24.25.47.09.0

12.716.320.024.629.031.733.933.735.939.241.242.643.945.645.844.843.544.343.5

42.642.843.342.843.944.944.245.245.044.344.644.343.843.744.043.044.545.044.245.645.043.944.243.5

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

2 Bills, certificates of indebtedness, and notes.3 Series A bonds and, beginning April 1951, Series B convertible bonds.4 Issued to U. S. Government investment accounts. These accounts also held $11.0 billion of public

marketable and nonmarketable issues on December 31, 1961.s Less than $50 million.6 The last series of Treasury savings notes matured in April 1956.

Source: Treasury Department.

269


TABLE B-53.—Estimated ownership of U.S. Government obligations, 1939-61

[Par values,i billions of dollars]

End of year ormonth

19391940-1941_19421943 _.19441945.19461947194819491950195119521953..1954...1955... ..__1956..._19571958 ._19591960. ._1961 81960: January

FebruaryMarchAprilMay _June _.JulyAugustSeptemberOctober _NovemberDecember

: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember 8_._

1961:

Gross public debt and guaranteed issues 2

Total

Heldby U.S.

Gov-ern-

mentinvest-mentac-

counts

47.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276. 7275.0283.0290.9

290.4296.5291.2290.7?87.0288.9289.5286.5288.5288.8288.6290.6290.6290.4290.2290.7287.7288.2290.4289.2292.6294.0294.0296.0297.3296.5

6.57.69.5

12.216.921.727.030.934.437.339.439.242.345.948.349.651.754.055.254.453.7

55.154.553.253.253.753.254.455.354.855.955.555.055.455.154.654.554.954.055.556.155.256.555.955.055.454.5

Held by others

TotalFederalReservebanks

41.143.354.7

100.2153.2210.5251.6228.6222.6215.5217.8217.5217.2221.6226.9229.2229.1222.7219.8228.6237.3

235.3242.0

238.0237.5233.3235.7235.1231.1233.6232.9233.0235.6235.2235.3235.6236.3232.8234.2234.9233.1237.4237.5238.1241.0241.9242.0

Com-mercialbanks

2.52.22.36.2

11.518.824.323.322.623.318.920.823.824.725.924.924.824.924.226.326.6

27.428.9

25.525.225.325.626.026.526.926.827.027.427.527.426.626.726.726.826.927.327.427.727.828.329.2

Mutualsavingsbanksand in-surancecom-

panies

15.917.321.441.159.977.790.874.568.762.566.861.861.663.463.769.262.059.559.567.560.3

62.167.359.057.054.756.856.055.357.457.558.661.461.262.162.761.959.761.762.162.565.565.166.667.366.967.3

Othercorpora-tions 4

9.410.111.915.821.228.034.736.735.932.731.529.626.325.525.124.123.121.320.219.919.5

18.117.619.619.519.319.118.918.618.618.618.518.318.218.118.318.218.317.917.917.717.817.817.817.817.717.6

Stateandlocal

govern-ments fi

2.22.04.0

10.116.421.422.215.314.114.816.819.720.719.921.519.223.519.118.618.822.6

19.719.424.425.222.423.123.720.721.120.419.320.120.619.720.121.219.520.521.219.419.519.818.419.420.319.4

0.4.5.7

1.02.14.36.56.37.37.9S.I

11.112.714.415.416.316.616.518.018.218.518.218.418.618.518.618.818.718.518.318.318.318.218.318.518.718.518.518.718.718.618.518.418.418.5

individ-uals 6

10.110.613.623.737.653.364.164.265.765.566.366.364.665.264.863.464.765. 564.063.068.2

65.665.569.069.370.169.469.068.468.167.767.866.666.565.665.765.865.964.964.764.364.865.265.365.365.365.5

Miscel-laneousinves-tors?

0.7.7.9

2.34.47.09.18.18.48.99.4

10.510.611.713.213.915.616.116.616.622.1

24.224.822.322.922.923.322.922.723.023.423.523.622.824.224.023.924.123.923.523.223.723.223.724.524.124.8

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 statutorydebt limitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and Terri-tories and possessions; figures exclude securities held in trust departments. Since the estimates in thistable are on the basis of par values and include holdings of banks in United States Territories and possessions,they do not agree with the estimates in Table B- 45, which are based on book values and relate only to bankswithin 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, andof Territories and possessions.6 Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealersand brokers, and investments of foreign balances and international accounts in this country. Beginningwith December 1946, the international accounts include investments by the International Bank for Recon-struction and Development, the International Monetary Fund, and the International Development Asso -ciation in special non-interest-bearing notes issued by the U.S. Government. Beginning with June 30,1947, includes holdings of Federal land banks.8 Preliminary estimates by Council of Economic Advisers.

Source: Treasury Department (except as noted).

270


TABLE B—54.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-61

End of year or monthAmount

out-standing

Maturity class

Withinlyear

1 to 5years

5 to 10years

10 to 20years

20 yearsandover

Average length

Millions of dollars Years

Fiscal year:1946194719481949

19501951195219531954

19551956195719581959

19601961

1960: January....February..MarchAprilMayJune

JulyAugustSeptemberOctober...November.December.

1961: January.. .February..MarchAprilMayJune

JulyAugustSeptember.October...November.December.

189,606168,702160,346155,147

155,310137,917140,407147,335150,354

155,206154,953155,705166,675178,027

183,845187,148

189,856189,384185,437188,147187,735183,845

186,915186,294186,366189,358188,840189,015

189,320189, 919186, 520188,147188, 893187,148

191, 275191,138191,925105, 234195, 643195,965

61,97451,21148,74248,130

42,33843,90846,36765,27062,734

49,70358,71471,95267,78272,958

70,46781,120

81,45576,73572,72172,80774,33570,467

73.479'73,89276,14879,20375,32475,315

75, 61380,05476, 62278,73178, 89681,120

85, 22480, 67581,33482, 57883,64185,913

24,76321,85121,63032,562

51,29246,52647,81436,16129,866

39,10734,40140,66942,55758,304

72,84458, 400

61,69172,84972,93475,13373,18472,844

72,91170,81968,64668*59570,75570,812

70,83667,00761, 00760, 54162, 34958, 400

58, 43763, 60763, 74765, 82867,10564, 874

41,80735,56232,26416,746

7,7928,70713,93315,65127,515

34,25328,90812,32821,47617,052

20,24626, 435

22,13815,24019,93119,93019,92820,246

20,24521,31421,31217,33218, 54418,684

18, 68418. 68327, 65827. 65426, 43826,435

26, 43325, 69321, 93421, 93019, 48719, 782

17,46118,59716,22922,821

28,03529,97925,70028,66228,634

28,61328,57826,40727,65221,625

12,63010,233

16,48917,36512,65912,64912,64112,630

12,62512,61712,61012,60113,23513,224

13, 21113, 20310, 26210. 25410, 24510, 233

10,22510, 21211, 47911, 46911,98211,976

43,59941,48141,48134,888

25,8538,7976,5941,5921,606

3,5304,3514,3497,208

7,65810,960

8,0847,1947,1937,6297,6487,658

7,6557,6537,65011,62710,98210,979

10, 97610, 97310, 97010, 96810,96510,960

10, 95610,95213, 43113, 42813,42813,419

Months

104

NOTE.—All issues classified to final maturity except partially tax-exempt bonds, which are classified toearliest call date.

Source: Treasury Department.

271


TABLE B-55.—Federal budget receipts and expenditures and the public debt, 1929-63

{Millions of dollars]

Fiscal or calendar yearNet

budgetreceipts 1

Budgetexpendi-

tures

Surplusor

deficit (-)

Public debtat end of

year 2

Fiscal 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 3.1963 3.

Calendar year:19481949

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

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

1960-.1961 *.

3,861

4,0583,1161,9241,9973,015

3,7063,9974,9565,5884,979

5,1377,096

12, 54721,94743, 563

44,36239,65039,67741,37537,663

36,42247,48061,28764,67164,420

60,20967,85070,56268f55067,915

77,76377,65982,10093, 000

40,80037,464

37, 23552,87764, 70563, 65460,938

63,11970,61671, 74968, 26272,738

79,51878,200

3,127

3,3203,5774,6594,5986,645

6,4978,4227, 7336,7658,841

9,05513,25534,03779,36894,986

98,30360,32638,92332,95539,474

39, 54443,97065,30374,12067,537

64,38966,224

71,36980,342

76,53981,51589, 07592,537

35,55941,056

37,65756,23670, 54772,81164,622

65,89166,83871,15775, 34979,778

77,56584, 500

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

-4,1801,6261,596

- 2 , 819-12,427

1,224-3, 856—6,975

463

5,241-3,592

-422-3,358-5,842-9,157-3,683

-2,7713,779592

-7,088-7,040

1,953—6,300

16,931

16,18516,80119,48722,53927,053

28,70133,77936,42537,16540,440

42,96848, 96172, 422136,696201,003

258, 682269,422258,286252,292252,770

257,357255,222259,105266,071271,260

274,374272,751270,527276,343284,706

286,331288, 971295,370294,920

252,800257,130

256,708259,419267,391275.168278,750

280,769276,628274,898282,922290,798

290, 217296.169

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 Excludes guaranteed obligations; therefore, differs from total shown in Tables B-52 and B-53. Thechange in the public debt from year to year reflects not only the budget surplus or deficit but also changesin the Government's cash on hand, and the use of corporate debt and investment transactions by certainGovernment enterprises.

3 Estimate.4 Preliminary.NOTE.—Certain interfund transactions are excluded from budpet receipts and expenditures beginning

fiscal year 1932. For years prior to 1932, the amounts of such transactions are not significant.Sources: Treasury Department and Bureau of the Budget.

272


TABLE B-56.—Federal budget receipts by source and expenditures by function, fiscal years 7946—63


Fiscalyear

1946-.1947_-1948..1949..

1950._1951__1952__1953._1954--

1955._1956_.1957-_1958._1959.-

I960._1961_.1962 3.1963 3.

Budget receipts by source

Total

39,65039,67741,37537,663

36,42247, 48061,28764,67164,420

60,20967, 85070, 56268, 55067, 915

77, 76377,65982,10093,000

Indi-vidualincometaxes

16,15717,83519,30515, 548

15,74521,64327,91330,10829, 542

28, 74732,18835, 62034, 72436, 719

40,71541,33845,00049,300

Corpo-rationincometaxes

11,8338,5699,678

11,195

10,44814,10621,22521,23821,101

17, 86120,88021,16720,07417,309

21,49420,95421,30026,600

Excisetaxes

6,9997,2077,3567,502

7,5498,6488,8519,8689,945

9,1319,9299,0558,6128,504

9,1379,0639,6279,956

Allother

re-ceipts1

4,6616,0665,0373,418

2,6793,0833,2983,4563,833

4,4694,8544,7215,1415,384

6,4186,3046,1737,144

Budget expenditures by functior

Total

60,32638,92332, 95539, 474

39, 54443,97065,30374,12067, 537

64,38966,22468,96671,36980,342

76, 53981, 51589,07592,537

N a -tional

defense

43,17614,36811,77112,908

13,00922, 44443,97650, 44246,986

40,69540,72343,36044, 23446,491

45,69147, 49451,21252,690

Veter-ans'serv-icesand

bene-fits

4,4157,3816,6536,725

6,6465,3424,8634,3684,341

4,5224.8104,8705,1845,287

5,2665,4145,5755,298

Agri-cul-tureandagri-

cultur-al re-

sources

7471,243

5752,512

2,783650

1,0452,9552,573

4,3884,8684,5464,4196,590

4,8825,1736,3435,836

Inter-est

4,8165,0125,2485,445

5,8175,7145,9346,5786,470

6,4386,8467,3077,6897,671

9,2669,0508,9989,398

L

Allother

expend-itures 2

7,17310,9178,708

11,884

11,2889,8199,4869,7777,167

8,3468,9778,8839,843

14,303

11.43414,38416,94719, 315

Budgetsurplusor defi-cit ( - )

-20,676754

8,419-1,811

-3,1223,510

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

-4,1801,6261,596

-2,819-12,427

1,224-3,856-6,975

463

1 Includes employment taxes, estate and gift taxes, customs revenues, and miscellaneous receipts. Seealso Note below.

2 Includes expenditures for international affairs and finance; space research and technology; naturalresources; commerce and transportation; housing and community development; health, labor, and welfare;education; and general government. Also includes adjustment to daily Treasury statement (for actuals)and allowance for contingencies (for estimates). See also Note below.

3 Estimate.

NOTE.—Total budget receipts and total budget expenditures and the "all other" categories exclude cer-tain interfund transactions.

Sources: Treasury Department and Bureau of the Budget.

273


TABLE B—57.—Government cash receipts from and payments to the public, 1946—63


Fiscal or calendar year

Fiscal year:1946194719481949

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

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

I960 . . .1961 —1962 4.1963 *.

Calendar year:19461947. . . .1948.—1949

1950-1951-1952..1953-1954-

1955..1956-1957-1958-1959-

1960—1961 «_

Total

Cashre-

ceipts

54.255.659.657.6

58.272.588.793.995.6

93.5105.8113.5115.0117.2

134.1138.2

52.957.460.057.9

60.479.193.093.593.3

98.4110.2116.8115.9124.7

138.3

Cashpay-

ments

70.247.550.256.3

61.565.288.999.196.1

97.5101.6111.8118.2132.2

133.2142.4

50.950.751.859.8

61.178.393.6

100.495.3

100.2105.2116.6125.2133.2

136.1

Excessof re-ceiptsor ofpay-

ments)

-16.08.19.41.3

- 3 . 37.3

- . 2- 5 . 2- . 4

- 4 . 04.21.7

-3 .2-15.0

.9- 4 . 1

2.06.78.2

- 1 . 8

.9- . 6

- 6 . 9- 2 . 0

-1 .85.0.2

- 9 . 3- 8 . 5

2.3

Federal i

Cashre-

ceipts

43.543.545.441.6

40.953.468.071.571.6

67.877.182.181.981.7

95.197.2

102.6116.6

41.444.344.941.3

42.459.371.370.268.6

71.480.384.581.787.6

98.397.2

Cashpay-

ments

61.736.936.540.6

43.145.868.076.871.9

70.572.680.083.494.8

94.399.5

111.1114.8

41.438.636.942.6

42.058.072.077.469.7

72.274.883.389.095.6

94.7103.8


ments

-18.26.68.91.0

- 2 . 27.6

- 5 . 3- . 2

- 2 . 74.52.1

-1 .5-13.1

- 2 . 3- 8 . 5

1.8

5.78.0

- 1 . 3

.51.2

- . 6-7 .2- 1 . 1

- . 75.51.2

- 7 . 3- 8 . 0

3.6

State and local2

Cashre-

ceipts

10.712.114.216.0

17.319.120.722.424.0

25.728.731.433.135.5

39.041.1

11.413.115.116.6

18.019.921.723.224.7

26.929.932.334.137.1

40.1

Cashpay-

ments

8.510.613.715.7

18.419.420.922.324.2

27.029*. 031.834.837.4

38.943.1

9.512.114.917.1

19.120.221.623.025.6

28.030.433.336.237.6

41.4


ments

2.21.5.5.3

- 1 . 1- . 3- . 2

.1- . 2

- 1 . 3- . 3- . 4

- 1 . 7-1 .9

.1- 2 . 0

1.91.0.2

- . 5

- 1 . 1- . 4

.1

.3- . 9

- 1 . 1- . 5

-1 .0- 2 . 1- . 5

- 1 . 3

1 For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June 30, 196S, and Table B-60.

2 Estimated by Council of Economic Advisers from receipts and expenditures in the national incomeaccounts. Cash receipts consist of personal tax and nontax receipts, indirect business tax and nontaxaccruals, and corporate tax accruals adjusted to a collection basis. Cash payments are total expendituresless Federal grants-in-aid and less contributions for social insurance. (Federal grants-in-aid are thereforeexcluded from State and local receipts and payments and included only in Federal payments.) Seealso Table B-58.

3 Less than $50 million.4 Estimate.5 Preliminary.

Sources: Treasury Department, Bureau of the Budget, Department of Commerce, and Council of Eco-nomic Advisers.

274


TABLE B-58.—Government receipts and expenditures in the national income accounts, 1929-61


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 3.

1959: I—I I -III.IV.

1960: :I I -III.IV.

1961: III....I I I -IV 3.

Total government

Re-ceipts

11.3

10.89.5

9.310.5

11.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159.256.4

69.385.590.694.990.0

101.4109.5116.3115.1129.3

139.1143.6

Ex-pendi-tures

10.2

11.012.310.610.712.8

13.315.914.816.617.5

18.528.864.093.4

103.1

92.947.043.851.059.5

61.179.494.4

102.096.7

98.6104.3115.3126.6131.6

137.2149.8

Sur-plus ordeficit(-) onincome

andprod-

uct ac-count

1.0

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

-2 .0-3 .0

.6-1 .6-2 .1

- . 7-3 .8

-31.4-44.2-51.9

-39.74.1

13.38.2

-3 .1

8.26.1

-3 .9-7 .1-6 .7

2.95.21.0

-11.4-2 .2

1.9—6.2

Federal Government i

Re-ceipts

3.8

3.02.01.72.73.5

4.05.07.06.56.7

8.615.422.939.341.0

42.539.243.343.439.1

50.264.567.770.363.8

72.877.581.778.589.4

96.097.9

Ex-pendi-tures

2.6

2.84.23.24.06.4

6.58.57.28.59.0

10.120.556.186.095.6

84.837.031.135.441.6

41.058.071.677.7

68.971.879.787.991.2

92.8101.4

Sur-plus ordeficit(-)onincome

andprod-

uct ac-count

1.2

.3-2 .1-1 .5-1 .3-2 .9

-2 .6-3 .5- . 2

-2 .0-2 .2

-1 .4-5 .1

-33.2-46.7-54.6

-42.32.2

12.28.0

-2 .5

9.26.4

-3.9-7.4-5.8

5.72.0

-9.4-1.8

3.3—3.6

State and localgovernment

Re-ceipts

7.87.77.37.28.6

9.18.69.19.39.6

10.010.410.610.911.1

11.613.015.517.819.6

21.423.525.527.429.1

31.735.238.642.046.5

49.252.3

Ex-pendi-tures


7.7

8.48.47.67.28.1

8.58.18.48.99.6

9.29.08.88.48.4

9.011.114.417.620.2

22.423.825.427.130.1

32.735.739.644.146.9

50.655.0

Sur-plus ordeficit(-) onincome

andprod-

uct ac-count

126. 3131.3129.3130. 4

139.4140.0138.8138.3

136.9141.9145.4(4)

130.4131.4132.1132.5

132.9136.5139.3140.2

144.8148.5151. 3154.8

- 4 . 1- . 1

- 2 . 8- 2 . 0

6.53.5

- . 5- 1 . 9

- 7 . 9- 6 . 6- 6 . 0(4)

87.491.689.189.6

97.096.995.694.6

92.596.899.3(4)

90.191.191.692.0

90.592.594.294.2

98.0101.1102.4104.3

- 2 . 7.5

- 2 . 5- 2 . 4

6.54.51.4

.4

- 5 . 5- 4 . 3- 3 . 1(4)

45.546.346.947.3

48.649.249.449.7

51.451.952.4(4)

46.946.947.247.0

48.650.151.352.0

53.854.255.356.8

- 0 . 1

- . 5- . 7- . 2

(2).5

.5.7.4.1

.71.31.82.52.7

2.61.91.1

.3

- 1 . 0- . 3

.1

.3

- 1 . 0- . 5

- 1 . 0- 2 . 1

- . 4

- 1 . 4—2.7

- . 4.4

()-1.0-1.9-2.3

-2.4-2.3-2.9

1 See Note, Table B-59.2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.* Not available.

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

Data for Alaska and Hawaii included beginning 1960.


275


TABLE B-59.-—Federal Government receipts and expenditures in the national income accounts,1946-61


Year or quarter

Receipts

Total

Per-sonaltaxandnon-taxre-

ceipts

Cor-po-rate

profitstaxac-

cruals

Indi-rectbusi-

taxand

cru-als

Con-tribu-tionsfor

socialinsur-ance

Expenditures

Total

Pur-chases

ofgoodsandserv-ices

Transferpayments

To For-eign(net)

Grants-in-aid

to Stateandlocal

govern-ments

Netin-ter-est

paid

Subsi-dieslesscur-rentsur-plus

ofgov-ern-

mententer-prises

Sur-plusor

defi-cit(-)onin-

comeand

prod-uctac-

count

-18.011.211.4

.2- . 216.3

- 1 . 1- 6 . 3-8 .6-1 .1

6.84.4

- 4 . 9- 4 . 8

2.2- 2 . 2- . 54.4

2.212.28.0

- 2 . 59.26.4

-3.9-7 .4- 5 . 8

3.85.72.0

-9 .4- 1 . 8

3.3-3.6

Fiscal year:19461947..19481 9 4 9 . . . .

19501951195219531954

19551956i195719581959

196019611962 21963 2

Calendar year:1946194719481949

19501951195219531954

19551956195719581959

19601961 3

Calendar quarter:1959: I

IIIIIIV

1960: III . . . .III...IV

1961: III . . . .Il lIV3

38.342.943.740.142.061.765.569.965.967.076.380.977.885.494.194.8

105. 6116.3

39.243.343.439.150.264.567.770.363.8

72.877.581.778.589.4

96.097.9

17.818.820.016.316.523.529.031.530.429.933.536.736.338.142.042.946.751.7

17.219.619.016.218.226.331.232.429.2

31.535.237.336.639.6

43.243.9

7.310.711.210.911.721.819.319.817.118.421.020.417.321.221.620.124.627.5

8.610.711.89.8

17.121.618.619.416.5

20.920.219.917.721.9

21.221.6

7.57.98.08.18.3

11.010.710.411.212.112.012.313.813.614.515.3

7.97.98.18.29.09.5

10.511.210.1

11.011.612.211.913.0

14.013.8

5.85.54.64.85.56.67.37.67.78.3

10.511.712.313.816.718.119.821.8

5.55.14.54.95.97.17.47.48.1

9.310.612.212.414.9

17.718.6

56.331.732.340.042.245.366.676.274.5

68.169.576.582.890.291.997.0

106.1111.9

37.031.135.441.641.058.071.677.7

71.879.787.991.2

92.8101.4

41.316.916.621.820.026.547.756.853.945.045.248.350.553.852.954.660.264.2

20.615.619.322.219.338.852.958.047.5

45.345.749.752.653.5

52. 957.2

0)8.38.78.1

11.38.28.79.4

10.612.212.914.618.120.321.224.2

27.829.4

0)0.2.6

2.93.12.31.81.71.31.61.31.51.31.41.61.5

9.28.97.78.8

10.98.78.99.7

11.6

12.513.516.020.02Q.6

/22.225.6

.3

.11.63.22.82.11.5

1.51.51.51.31.5

1.61.6

0.91.51.82.12.42.42.52.82.82.93.13. 64.56.06.66.47.07.7

1.11.72.02.22.32.52.62.82.9

3.03.34.15.46.6

6.16.6

3.94.24.24.34.44.64.84.84.94.95.05.55.65.9

6.9

4.24.24.34.44.54.74.74.85.04.95.25.75.66.4

7.06.5

2.1.7.4.8

1.01.31.1.9

1.01.41.93.12.72.82.83.34.53.7

1.6.6.6.7

1.21.31.0.8

1.2

1.62.72.83.02.6

2.9


87.491.689.189.6

97.096.995.694.6

92.596.899.30)

38.739.839.940.042.743.343.543.1

42.643.644.544.8

21.624.121.021.022.621.820.320.0

18.621.222.10)

12.612.713.313.614.114.2'13.813.813.313.614.014.5

14.515.015.01/5.0

At 517.718.017.618.018.418.719.3

90.191.191.692.090.592.594.294.298.0

101.1102.4104.3

53.253.954.152.951.852.954.053.054.756.657.459.9

20.220.420.521.421.221.822.423.724.825.726.125.9

1.51.41.31.9

1.51.61.51.6

1.61.51.71.5

6.66.66.76.5

6.16.16.26.0

7.16.86.46.3

6.06.26.56.8

7.07.17.17.0

6.86.66.46.5

2.72.62.52.5

2.82.92.92.9

3.04.04.54.2

- 2 . 7.5

- 2 . 5- 2 . 4

6.54.51.4.4

-5 .5- 4 . 3- 3 . 10)

1 Not available.2 Estimate3 Preliminary estimates by Council of Economic Advisers.NOTE.—These accounts, like the cash budget, include the transactions of the trust accounts. Unlike

both the conventional budget and the cash statement, they exclude certain capital and lending transactions.In general, 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 financed bybanks 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 and Bureau of the Budget (except as noted).

276


T A B L E B—60.—Reconciliation of Federal Government receipts and expenditures in the conventionalbudget and the consolidated cash statement with receipts and expenditures in the national income

accounts, fiscal years 1959-63

[Billions of dollars!

Receipts or expendituresFiscal years

1959 1960 1961 1962 1963

Budget receipts .

Less:

RECEIPTS

Intragovernmental transactionsReceipts from exercise of monetary authority

Plus: Trust fund receipts

Equals: Federal receipts from the public (consolidated cashreceipts)

Adjustments for agency coverage:Less: District of Columbia revenues

Adjustments for netting and consolidation:Less: Interest, dividends, and other earningsPlus: Contributions to Federal employees' retirement

funds, etcAdjustments for timing:

Plus: Excess of corporate tax accruals over collections;personal taxes, social insurance contributions,etc

Adjustments for capital transactions:2

Less: Realization upon loans and investments, sale ofGovernment property, etc

Equals: Receipts—National income accounts

Budget expenditures.EXPENDITURES

Less:

Plus:

Intragovernmental transactionsAccrued interest and other non-cash expenditures

(net)Trust fund expendituresGovernment-sponsored enterprise expenditures

(net)

Equals: Federal payments to the public (consolidated cashexpenditures)

Adjustments for agency coverage:Less: District of Columbia expenditures

Adjustments for netting and consolidation:Less: Interest received and proceeds of Government sales.Plus: Contributions to Federal employees' retirement

funds, etcAdjustments for timing:

Plus: Excess of interest accruals over payments onsavings bonds and Treasury bills

Excess of deliveries over expenditures and mis-cellaneous items 3

Less: Commodity Credit Corporation foreign currencyexchanges

Adjustments for capital transactions 2

Less: Loans—Federal National Mortgage Associationsecondary market mortgage purchases, redemp-tion of International Monetary Fund notes,etc

Trust and deposit fund itemsPurchase of land and existing assetsOther*

67.93.3

0)17.1

81.7

.2

.8

1.5

4.3

1.2

85.4

80.3

3.3

2.118.6

1.3

.3

.6

1.5

3.81.5

77.84.4.1

21.8

95.1

.2

1.4

1.5

94.1

76.5

4.4

.422.2

.5

94.3

.3

1.0

1.5

.6

- . 6

.9

77.7

4.2.1

23.8

97.2

.3

1.1

1.7

- 1 . 3

1.5

94.8

81.5

4.2

.823.2

o

99.5

.3

.6

1.7

.2

.5

1.0

1.3.4.1

1.3

4.0.1

24.5

102.6

.4

1.0

1.7

3.5

.9

105.6

89.1

4.0

.125.6

.5

111.1

.4

1.0

1.7

.5

.1

1.1

3.71.0.1

Equals: Expenditures—National income accounts. 90.2 91. S 97.0 106.1

93.03.9

0)27.5

116.6

1.1

1.7

1.3

116.3

92.5

3.9

.826.7

.3

114.8

.4

1.0

1.7

1.0

2.51.0.1

1 Less than $50 million.2 Consist of transactions in financial assets and liabilities, land and secondhand assets. Acquisition of

newly produced tangible assets are included in expenditures for goods and services as defined in the nationalnprtTTin QnH nrnHnof Qr>r>nnnfoincome and product accounts.

3 Includes net change in Commodity Credit Corporation guaranteed non-recourse loans and increase inbearing account.

4 Commodity Credit Corporation inventory valuation adjustment.

Sources: Bureau of the Budget and Department of Commerce.

277


TABLE B-61.—State and local government revenues and expenditures, selected fiscal years, 1927-60


Fiscal year ]

1927..

1932-1934..1936..1938..

1940..1942..1944-1946..1948-

1950..1952..1953-1954..

1955..1956..1957..1958..1959 5

1960 •

Revenues by source 2

Total

7,271

7,2677,6788,3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729, 012

31, 07334, 66738, 31041,21945,306

50,505

Prop-ertytaxes

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10, 73511, 74913, 09714, 04714,983

16, 405

Salesandgross

re-ceiptstaxes

470

7521.0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,6919,4619,829

10, 437

11, 849

Indi-vidualincorretaxes

70

7480

153218

224276342422543

788998

1,0651,127

1,2371,5381,7671,7591,994

2,463

Corpo-ration

netincometaxes

92

7949

113165

156272451447592

593846817778

744890984

1,0181,001

1,180

Reve-nuefromFed-eralGov-ern-ment

116

2321,016

948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8384,8656,377

6,974

Allotherreve-nue 3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,1639,699

10, 516

11,634

Expenditures by function

Total

7,210

7,7657,1817,6448,757

9,2299,1908,863

11, 02817,684

22,78726,09827,91030, 701

33, 72436, 71140, 43844, 85148,887

51, 876

Edu-cation

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,390

10,557

11,90713, 22014, 50115, 91917,283

18, 719

High-ways

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,7628,5679,592

9,428

Publicwel-fare

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,4113,7294, 19

4,404

Allother*

3,015

3,2692,9523,2153,547

3,8623.8893,7374,5917,170

8,86710,34210,61911,557

12,19713,39914, 76416,63517,994

19, 325

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

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

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

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

5 Includes data for Alaska.9 Includes data for Alaska and Hawaii

NOTE.—Data are not available for intervening years.See Table B-51 for net debt of State and local governments.

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

278


CORPORATE PROFITS AND FINANCETABLE B-62.—Profits before and after taxes, all private corporations, 1929-61


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. .19613 «

1959: I . . ._I I . . .III . .IV_.

1960: I—.I I -III . .IV..

1961: I . . . .I I . . .III. .IV 3.

Corporate profits (before taxes) andinventory valuation adjustment

Allindus-tries

Total

10.1

6.61.6

-2 .0-2 .0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323.630.828.2

35.741.037.737.333.7

43.142.041.737.246.4

45.146.2

Manufacturing

5.1

3.91.3

- . 6- . 5

2.03.13.62.23.2

5.49.3

11.713.713.0

9.58.4

12.816.815.3

20.424.421.121.418.4

25.023.522.918.324.8

23.323.0

Dura-ble

goodsindus-tries

2.6

1.5(2)

-1 .1- . 5

.2

1.71.7.7

1.6

3.06.37.18.07.3

4.52.15.37.47.9

12.013.511.812.110.1

14.212.613.19.0

13.2

12.011.6

Non-durablegoodsindus-tries

Transpor-tation,

commu-nication,

andpublic

utilities

2.5

2.41.3.4

(2).7

1.11.42.01.41.5

2.33.04.55.65.7

5.06.37.49.47.4

8.410.99.39.38.3

10.810.99.89.3

11.6

11.311.4

Allotherindus-tries

2.0

1.2.6.2.1.4

.5

.7

1.0

1.32.03.54.43.9

2.81.82.12.92.9

4.04.54.84.94.4

5.45.65.55.66.4

6.87.1

3.0

1.5- . 2

-1 .5-1 .5- . 2

.51.21.81.51.5

2.43.24.55.76.1

6.17.18.7

11.210.1

11.312.011.811.011.0

12.812.913.313.315.2

15.016.0

Corpo-rate

profitsbeforetaxes

3.3- . 8

-3 .0.2

1.7

3.15.76.23.36.4

9.317.020.924.623.3

19.022.629.533.026.4

40.642.236.738.334.1

44.944.743.237.446.8

45.046.1

Corpo-ratetax

liabil-ity i

1.4

.5

.4

.5

.7

1.01.41.51.01.4

2.87.6

11.414.112.9

10.79.1

11.312.510.4

17.922.419.520.217.2

21.821.220.918.623.1

22.322.8

Total

Corporate profitsafter taxes

Divi-dendpay-

ments

8.3

2.5-1 .3-3 .4- . 41.0

2.24.34.72.35.0

6.59.49.5

10.510.4

8.313.418.220.516.0

22.819.717.218.116.8

23.023.522.318.823.7

22.723.3

Undis-tributedprofits

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.2

11.212.112.612.413.4

14.114.4


45.350.244.445.5

47.445.944.142.9

40.045.547.0

(5)

23.927.724.123.4

25.523.422.621.6

18.822.323.6(5)

12.815.812.211.9

13.912.011.410.7

8.511.212.1(5)

11.112.011.911.5

11.511.411.310.9

10.411.211.5(5)

6.36.86.06.4

6.76.96.66.8

6.57.17.3

(5)

15.115.714.315.8

15.215.514.914.6

14.616.116.1(5)

46.151.544.844.9

48.146.343.242.6

39.645.247.2(5)

22.825.422.122.1

23.923.021.421. 1

19.622.423 3(5)

23.426.122.722.7

24.223.321.721.4

20.022,823.8(5)

13.013.313.713.8

14.014.014.114.3

14.214.214.315.0

2.4

-3 .0-5 .4-6 .0-2 .4-1 .6

- . 7- . 2

(2)- . 91.2

2.44.95.26.05.7

3.67.7

11.713.38.5

13.610.78.38.97.0

11.811.39.76.4

10.3

8.8

10.412. 89.0

10.29.37.67.2

5.88.69.5

()

1 Federal and State corporate income and excess profits taxes.2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.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.5 Not available.Source: Department of Commerce (except as noted).

279


TABLE B-63.—Relation of profits after taxes to stockholders' equity and to sales, privatefacturing corporations, by industry group, 1958-61

Year or quarter

Allpri-vateman-ufac-tur-ingcor-

pora-tions

Durable goods industries

Lum-berand

woodprod-ucts(ex-cept

furni-ture)

Fur-nitureandfix-

tures

Stone,clay,and

prod-ucts

Pri-maryironandsteelin-

dus-tries

Pri-marynon-fer-rousmetalin-

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

Othertrans-porta-tion

equip-ment

In-stru-mentsandre-

latedprod-ucts

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

clud-ingord-

nance)

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

BASED ON 19S7 SIC

1958: IIIIllIV

1959: IIIIllIV

1960: IIIIllIV

1961: I -IIIll

BASED ON 1957 SIC '

6.87.89.010.7

10.012.49.69.6

9.89.98.78.4

6.89.28.8

0.23.111.08.4

6.111.312.97.0

3.36.24.6.3

-.66.26.8

2.3.8.11.

6.9.11.8.3

5.55.88.26.5

-1.14.07.0

3.41.04.71.4

8.017.415.79.8

6.713.111.97.8

2.910.911.7

5.36.56.510.4

11.716.7-2.76.3

12.18.04.04.6

3.27.06.4

5.74.65.67.9

8.210.36.76.7

8.08.26.85.5

6.18.06.1

5.07.38.87.9

5.99.710.95.6

5.36.97.23.0

2.57.37.7

5.67.77.17.0

7.112.510.78.5

8.19.76.95.6

5.79.17.8

8.39.19.913.4

10.712.712.114.3

10.410.09.18.6

7.38.28.1

8.35.91.516.9

19.120.58.010.8

18.516.16.113.2

8.013.26.3

11.610.310.310.6

7.89.66.66.7

6.77.85.33.6

6.48.38.2

7.09.612.213.6

10.812.014.514.8

11.612.111.910.8

7.19.911.6

Profits after taxes per dollar of sales—cents

1958:

1959:

1960:

1961:

IIIIIIIV..

IIIIllIV . .-.

I __II - -.IllIV.. -

IIIIII _

3.43.84.44.9

4.75.54.64.5

4.74.64.34.0

3.54.44.3

0.11.65.03.8

3.04.75.43.2

1.72.72.1.1

-.32.93.0

0.71.22.83.2

2.02.83.42.4

1.91.92.62.1

-.41.32.1

2.77.28.87.3

5.79.89.16.4

5.08.27.45.4

2.46.87.0

4.24.95.07.1

7.18.1

-3.14.8

7.05.33.23.9

2.75.04.6

4.73.84.45.8

6.07.05.15.0

5.96.05.24.3

4.85.94.8

2.33.23.63.2

2.63.84.12.3

2.42.93.01.3

1.23.03.1

3.03.93.93.7

3.85.85.34.3

4.14.53.63.0

3.24.64.2

3.23.53.94.7

4.04.54.44.8

3.93.63.53.2

2.93.23.3

3.72.91.06.8

7.47.84.25.0

6.96.63.55.8

4.15.83.8

2.72.32.42.5

2.02.21.51.5

1.61.81.3.8

1.51.81.9

3.85.06.36.3

5.76.07.36.8

6.06.26.25.3

4.05.36.0

3.65.7

13.79.2

7.27.1

12.410.2

5.77.9

11.511.6

5.97.2

12.6

1.52.24.83.3

2.92.64.63.7

2.43.14.14.1

2.52.84.2


280


TABLE B-63.—Relation of profits after taxes to stockholders'equity and to sales, private manu-facturing corporations, by industry group, 1958-67—Continued

Year or quarter

Nondurable goods industries

Foodandkin-dredprod-ucts

To-baccoman-ufac-tures

Tex-tilemillprod-ucts

Ap-pareland

relatedprod-ucts

Paperand

alliedprod-ucts

Print-ingandpub-lish-ing(ex-cept

news-pa-

pers)

Chem-icalsand

alliedprod-ucts

Petro-leumrefin-ing

Prod-ucts ofpetro-leumandcoal(ex-cept

petro-leumrefin-ing)

Rub-ber

prod-ucts

Leatherand

leatherprod-ucts

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

BASED ON 19S7 SIC1958: I.

II.I l l -IV

1959: III -I I I . .IV

1960: IIIIIIIV

1961: IIIIII

BASED ON 1957 SIC i

6.88.59.89.7

7.89.5

10.49.4

7.68.89.88.7

7.29.2

10.0

11.813.314.514.3

12.014.214.412.8

12.013.613.714.2

12.014.114.3

0.62.55.15.8

5.98.17.68.6

6.66.15.75.0

2.64.36.0

3.31.59.45.5

8.67.5

10.18.1

5.26.9

11.96.8

2.12.6

11.2

7.07.97.99.3

8.510.29.69.6

8.59.38.28.1

6.68.37.3

8.49.4

11.56.6

9.812.014.98.8

11.310.211.89.0

7.56.8

11.2

9.811.011.812.8

13.015.614.111.9

12.513.612.110.6

9.813.211.8

8.98.2

10.412.3

10.19.49.7

10.1

9.88.8

10.311.5

10.69.69.6

- 2 . 48.3

12.46.2

4.013.619.3

7.2

.98.3

22.18.8

-6 .614.420.6

5.38.7

11.510.8

10.013.111.19.9

9.810.58.27.9

6.710.69.2

4.13.28.3

8.98.79.2

10.46.23.65.0

3.32.64.7

Profits after taxes per dollar of sales—cents

1958: I —I I -

IV. .

1959: I —II—III..I V -

1960: :II . .III.IV..

1961 I - . .I I . .III.

1.82.22.52.4

2.12.52.72.5

2.12.42.62.2

1.92.42.6

5.15.25.55.6

5.25.55.65.2

5.25.45.55.8

5.35.75.9

0.31.22.32.4

2.53.23.03.3

2.82.52.52.1

1.21.82.5

0.7. 3

1.71.0

1.61.41.81.4

1.01.32.01.1

. 4

. 51.8

4.34.84.65.3

5.05.55.25.2

4.95.44.84.8

4.14.84.3

2.93.44.12.3

3.64.25.12.9

4.03.63.92.9

2.62.33.7

6.46.77.17.6

7.78.58.17.2

7.67.87.46.9

6.57.87.4

8.28.29.9

11.3

9.39.49.59.9

9.48.9

10.211.0

10.4•9.99.8

-1 .53.54.22.9

1.95.77.13.3

.53.26.43.1

-3 .04.96.0

2.23.34.43.9

3.94.44.13.7

3.83.93.33.2

2.94.23.8

1.31.02.41.9

1.92.42.22.4

2.71.6.9

1.4

.71.2

1 Standard Industrial Classification.NOTE.—Data on a comparable basis are not available for earlier periods. For explanatory notes con-

cerning compilation of the series, see Quarterly Financial Reports for U.S. Manufacturing Corporations,Federal Trade Commission arid Securities and Exchange Commission.

Data for Alaska and Hawaii included for all periods.Sources: Federal Trade Commission and Securities and Exchange Commission.

281


TABLE B-64.—Relation of profits before and after taxes to stockholders* equity and to sales,private manufacturing corporations, by asset size class, 1958-61

Year or quarter

BASED ON 1957 SIC *1958: I ^ .

II

IV

1959: IIIIIIIV

I960: IIIIII . . .IV

1961- IIII I I -

BASED ON 1957 SIC >1958: I _

IIH I __ _.IV.

1959: I .IIIIIIV

I960: I -IIIIIIV

1961- III . .._I l l

Asset size class (millions of dollars)

All assetsizes

Beforetaxes

12.913.915.918.8

18.723.117.116.8

18.418.015.414.8

12.616.815.8

Under 1

Ratio of profits

Aftertaxes

6.87.89.0

10.7

10.012.49.69.6

9.89.98.78.4

6.89.28.8

Beforetaxes

5.511.416.57.8

12.520.421.18.8

11.715.216.75.0

6.313.715.8

Aftertaxes

0.45.49.32.5

5.711.712.43.3

5.08.09.0.5

.96.88.4

1 to 10

{annual

Beforetaxes

9.813.317.114.9

15.120.219.814.6

14.116.414.69.2

8.314.716.8

rate)

Aftertaxes

3.56.08.37.3

6.910.19.97.0

6.37.66.93.6

2.66.98.2

10 to 100

to stockholders

Beforetaxes

13.014.416.918.5

17.522.420.719.0

17.117.916.314.5

11.816.316.3

Aftertaxes

6.37.28.59.7

8.711.410.510.0

8.49.08.27.4

5.68.38.1

100 to 1,000 1,000 andover

equity—percent

Beforetaxes

14.215.717.820.2

19.223.817.618.4

18.518.316.916.2

13.917.117.1

Aftertaxes

7.48.39.4

11.2

10.112.59.4

10.4

9.810.19.19.2

7.59.19.2

Beforetaxes

14.312.312.321.4

21.724.512.115.9

21.919.013.317.4

14.418.013.6

Aftertaxes

9.58.89.1

14.2

12.914.38.6

10.7

13.011.59.1

11.4

9.511.29.2

Profits per dollar of sales—cents

Beforetaxes

6.46.87.78.6

8.910.28.27.9

8.78.47.67.1

6.58.07.7

Aftertaxes

3.43.84.44.9

4.75.54.64.5

4.74.64.34.0

3.54.44.3

Beforetaxes

1.32.53.61.6

2.84.24.31.8

2.63.23.51.1

1.42.93.4

Aftertaxes

0.11.22.1.5

1.32.42.5.7

1.11.61.9.1

.21.51.8

Beforetaxes

3.85.06.15.3

5.46.66.74.9

5.05.65.13.2

3.04.85.5

Aftertaxes

1.42.32.92.6

2.53.33.42.4

2.22.62.41.3

.92.32.7

Beforetaxes

6.57.08.18.5

8.49.99.58.78.18.27.76.9

6.07.67.7

Aftertaxes

3.13.54.04.5

4.25.04.84.5

4.04.13.93.5

2.83.93.8

Beforetaxes

7.58.08.99.7

9.610.98.89.1

9.39.08.78.3

7.48.48.5

Aftertaxes

3.94.24.75.4

5.05.74.75.1

4.95.04.74.74.04.54.6

Beforetaxes

10.69.7

10.414.9

15.216.410.212.2

14.513.210.612.7

11.613.611.4

Aftertaxes

7.06.97.79.9

9.09,67.38.28.68.07.38.3

7.78.57.7

i Standard Industrial Classification.NOTE.—Data on a comparable basis are not available for earlier periods. For explanatory notes concern-

ing compilation of the series, see Quarterly Financial Reports for U.S. Manufacturing Corporations, FederalTrade Commission and Securities and Exchange Commission.

Data for Alaska and Hawaii included for all periods.Sources: Federal Trade Commission and Securities and Exchange Commission.

282


TABLE B-65.—Sources and uses of corporate funds, 1950-61J


Source or use of funds

Total uses.

Plant and equipment outlaysInventories (book value)Customer net receivables 3

Cash and U.S. Government se-curities _

Other assets

Total sources-

Internal sources-

Retained profits and deple-tion allowances

Depreciation and amortiza-tion allowances.. _..

External sources.

Federal income tax liability _.Other liabilitiesBank loans and mortgage

loansNet new issues

Discrepancy (uses less sources)

1950

36.5

16.99.85.0

4.5.3

35.4

20.8

13.0

7.8

14.6

7.31.0

2.63.

1.1

1951

36.8

21.69.82.0

2.8.6

36.9

19.0

10.0

9.0

17.9

4.31.9

5.46.3

- . 1

1952

27.3

22.41.33.1

.1

.4

28.1

17.8

7.4

10.4

10.3

-3 .12.4

3.17.9

- . 8

1953

28.2

23.91.8

.7

1.8)

30.0

19.7

7.9

11.8

10.3

.62.2

.47.1

- 1 . 8

1954

24.0

22.4- 1 . 6

2.4

().8

22.4

19.8

6.3

13.5

2.6

- 3 . 1.4

- . 65.9

1.6

1955

45.1

24.26.76.4

5.02.8

44.8

26.6

10.9

15.7

18.2

3.82.1

5.46.9

.3

1956

39.5

29.97.63.3

-4.33.0

42.4

27.8

10.5

17.3

14.6

- 1 . 73.0

5.47.9

-2.9

1957

37.8

32.72.12.1

- . 31.3

40.1

28.0

8.9

19.1

12.2

- 2 . 22.1

1.710.6

-2.3

1958

31.5

26.4- 2 . 4

2.9

2.61.9

35.7

26.0

5.7

20.3

9.8

- 2 . 51.8

1.19.4

-4.2

1959

45.2

27.75.75.5

3.62.7

48.0

30.6

9.1

21.5

17.4

2.42.0

5.27.8

- 2 . 8

1960

30.83.05.5

- 3 . 12.9

41.4

30.3

7.4

22.9

11.1

- 1 . 51.5

3.18.0

-2.3

1961»

42.1

30.42.24.8

1.53.2

44.4

32.1

»7.7

24.4

12.3

()1.2

1.79.4

-2.2

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

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

621876 O - 6 2 - 1 9 283


TABLE B-66.—Current assets and liabilities of United States corporations, 1939-61l


Year or quarter

Current assets Current liabilities

Network-

ingcapi-tal

1940—1941—1942—1943—1944—

1945—1946—

1947-1948—1949—

1950-1951-1952-1953..1954-

1955-1956-1957-1958-1959..

I960-

1959: I...II-III.IV.

1960:II-III.IV.

1961: I-.II-III.

54.5

60.372.983.693.897.2

97.4108.1

123.6133.0133.1

161.5179.1186.2190.6194.6

224.0237.9244.7255.3278.7

287.4

259.3267.5272.3278.7

281.3283.0285.8287.4

291.4296.2

10.8

13.113.917.621.621.6

21.722.8

25.025.326.5

28.130.030.831.133.4

34.634.834.937.437.2

37.0

34.635.935.637.2

33.834.635.037.0

34.836.136.8

2.2

2.04.0

10.116.420.9

21.115.3

14.114.816.8

19.720.719.921.519.2

23.519.118.618.822.6

19.7

20.220.721.922.6

22.420.719.319.7

19.519.418.4

0.1.6

4.05.04.7

22.1

23.927.423.321.921.8

38.342.443.0

1.12.72.82.62.4

2.32.62.82.82.9

3.1

2.82.72.72.9

2.92.92.93.1

3.23.13.2

55.758.864.665.971.2

95.199.4

106.9119.0

126.5

109.0113.3116.5119.0

120.3122.8125.8126.5

125.5129.2132.9

18.0

19.825.627.327.626.8

26.337.6

44.648.945.3

55.164.965.867.265.3

72.880.482.281.988.2

91.3

84.586.386.788.2

91.992.192.691.3

92.992.393.2

1.4

1.51.41.31.31.4

2.41.7

1.61.61.4

1.72.12.42.43.1

4.25.96.77.58.8

8.38.78.9

10.010.1

10.711.311.7

30.0

32.840.747.351.651.7

45.851.9

61.564.460.7

79.892.696.1

121.0130.5133.1136.6151.2

154.9

137.8143.1146.4151.2

151.6152.9154.2154.9

152.3153.5156.9

0.6.8

2.02.21.8

21.9

22.625.624.024.125.0

24.831.5

37.639.337.5

1.32.32.22.4

2.32.42.31.71.7

1.8

1.71.71.71.7

1.81.81.81.8

1.81.71.8

47.953.657.057.359.3

73.881.584.388.799.0

102.6

89.592.894.999.0

99.6101.3101.9102.6

100.9102.4104.0

1.2

2.57.1

12.616.615.5

10.48.5

10.711.59.3

16.721.318.118.715.5

19.317.615.412.915.3

13.8

12.513.414.315.3

13.912.913.413.8

12.111.712.7

6.9

7.17.28.78.79.4

9.711.8

13.213.514.0

14.916.518.720.722.5

25.729.031.133.335.2

36.8

34.235.235.635.2

36.236.937.236.8

37.537.738.4

24.5

27.532.336.342.145.6

51.656.2

62.168.672.4

81.686.590.191.894.9

103.0107.4111.6118.7127.5

132.5

121.5124.4125.9127.5

129.7130.2131.6132.5

134.3137.9139.3

1 All United States corporations, excluding banks, savings and loan associations, and insurance companies.Year-end data through 1958 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.

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

3 Includes marketable securities other than U.S. Government.

Source: Securities and Exchange Commission.

284


TABLE B-67.—State and municipal and corporate securities offered, 1934-611


Year or quarter

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 »

1959: I —II - .III..IV-

1960: I....I I -III.IV..

III. . _III..IV*.

1961

Stateand

munici-pal se-curitiesofferedfor cash(prin-cipal

amounts)

1,2321,121

9081,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894,4015,558

5,9775,4466,9587,4497,681

7,2308,330

2,1572,5041,5001,520

1,8852,2521,7641,329

2,1222, 3701,7662,072

Corporate securities offered for cash '

Gross proceeds»

Total

397

2,3324,5722,3102,1552,164

2,6772,6671,0621,1703,202

6,0116,9006,5777,0786,052

6,3617,7419, 5348,8989,516

10,24010,93912,88411,5589,748

10,15412,894

2,2822,6652,0622,739

2,2652,5372,5202,832

1,9925.3522,5662,984

Com-monstock

19

222722852587

1081103456

163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,281

518639333537

435582337310

3541,582

571774

Pre-ferredstock

2714068698

183167112124

7581,127762492425

631838564489816

635636411571531

409447

14217363154

10011092106

1928277

Bondsand

notes

371

2,2254,0291,6182,0441,980

2,3862,390

917990

2,669

4,8554,8825,0365,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,167

1,6221,8541,6662,048

1,7291,8452,0912,417

1,5433,5781,9132,133

Proposed uses of net proceeds «

Total

384

2,2664,4312,2392,1102,115

2,6152,6231,0431,1473,142

5,9026,7576,4666,9595,959

6,2617,6079,3808, 7559,365

10,01910, 74912,66111,3729,527

9,92412, 619

2,2322,6032,0162,675

2,2142,4652,4672,778

1,9515,2612.5012,906

New money

Total

57

208858991681325

474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7,9579,663

11,7849,9078,578

8,75810, 635

1,8992,4141,8172,448

1,9722,1812,2222, 384

1,6484,2722,1202, 596

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213,724

2,9665,1106,3125,6475,110

5,3336,7099,0407,7926,084

5,6627,354

1,3671,7121,0961,909

1,1801,4121,4801,589

9523,3731,3961,633

Work-ing

capi-tal

26

96478417177155

145207187167405

4421,1641,1821,708882

1,0411,4211,8682,3131,670

2,6242,9542,7442,1152,494

3,0973,281

531- 702

721539

791768742795

695899723963

Retire-mentof se-

curities

231

1,8653,3681,1001,2061,695

1,8541,583396739

2,389

4,5552,8681,352307401

1,271486664260

1,875

1,227364214549135

271885

28363733

69833980

14256663

113

Otherpur-

95

19320414822295

19217217310096

267610524722952

984589537535709

864721663915814

8951,099

306153162195

174201205315

161423318198

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 invest-ment company issues, and issues to be sold over an extended period, such as offerings under employee-purchase plans.

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

and other costs of flotation.* Preliminary.

NOTE.—Data for Alaska and Hawaii included for all periods.

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

285


TABLE B-68.—Common stock prices and earnings and stock market credit, 1939-61

Year or month

Commonstockpricesindex,

1957-59= 100(SEC) i

Commonstockprice/

earningsratio—

industrials(Standard& Poor's)2

Stock market credit

Customer credit (excluding U.S.Government securities)

TotalNet debitbalances 3

Bank loansto

"others" *

Bank loansto brokers

anddealers 5

1939..

1940-1941..1942..1943..1944..

1945..1946..1947-1948-1949..

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

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

I960..1961..

1960: January...February -MarchAprilMayJune

JulyAugustSeptember-OctoberNovember.December..

1961: January . . .February .MarchAprilMayJune

JulyAugustSeptember.OctoberNovember .December..

Millions of dollars

26.825.323.020.126.629.0

35.240.135.135.634.3

41.449.652.351.961.7

81.892.689.893.2

116.7

113.9134.2

117.6114.1112.1113.5113.2117.0114.5115.6112.1109.1112.6115.2

120.9125.4129.8133.0134.9132.8

132.7137.4136.2138.0144.0145.8

12.1711.039.65

10.1417.5816.95

22.9911.019.145.866.76

7.519.62

10.229.68

12.17

12.6513.5412.9117.7119.79

18.92

15.87

~l7~80

17.29

18.92

23.88

21.65

18.58

1,374976

1,032968

1,249

1,7981,8261,9802,4453,436

4,0303,9843,5764,5374,461

4,4155,602

4,3724,2814,1654,1614,1424,221

4,1434,2524,2924,3034,3034,415

4,4244,5324,7875,1905,3865,367

5,3555,3495,3115,3335,4605,602

942473517499821

1,2371,2531,3321,6652,388

2,7912,8232,4823,2853,280

3,2224,259

3,1983,1293,0283,0373,0213,082

3,0043,1093,1373,1333,1413,222

3,2533,3583,6013,9364,0604,024

3,9913,9723,9914,0294,1414,259

()353

432503515469428

561573648780

1,048

1,2391,1611,0941,2521,181

1,1931,343

1,1741,1521,1371,1241,1211,139

1,1391,1431,1551,1701,1621,193

1,1711,1741,1861,2541,3261,343

1,3641,3771,3201,3041,3191,343

715

584535850

1,3282,137

2,7821,471784

1,3311,608

1,7421,4192,0022,2482,688

2,8522,2142,1902,5692,584

2,6143,418

1,9211,8161,4871,8171,5911,670

1,6651,8712,0711,9611,8552,614

1,9692,0011,8052,3972,4392,441

2,7322,1362,6372,7432,5833,418

1 Based on 300 stocks.2 Based on 50 stocks for 1939-56 and 425 stocks beginning 1957. Ratio is obtained by dividing the stock

price index as of the end of the period by the seasonally adjusted annual rate of earnings for the quarterthen ending.

3 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.

* 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, and July 1958. Data are for last Wednes-day of period. For details, see Federal Reserve Bulletin, August 1959.

* 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, and July 1959. Data arefor last Wednesday of period. For details, see Federal Reserve Bulletin, August 1959.

* Not available.Sources: Securities and Exchange Commission, Board of Governors of the Federal Reserve System,

Standard & Poor's Corporation, and New York Stock Exchange.

286


TABLE B-69.—Business population and business failures, 7929-67

Operating busi-nesses and business

turnover (thou-sands of firms) >

Year or month Oper-atingbusi-ness-es 2

Newbusi-ness-es 3

Dis-con-tin-uedbusi-ness-es 3

New-busi-ness

incor-pora-tions(num-ber) 3

Business failures 3 4

Busi-nessfail-ure

rate 5

Number of failures

Total

Liability sizeclass

Under5100,000

$100,000 Totaland

Amount of currentliabilities (millions

of dollars)

Liability sizeclass

Under5100,000

$100,000andover

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.

1960

3,029

2,9942,9162,8282,7822,8842,9923,0703,1363,0743,222

3,3193,2763,2953,0302,839

2,9953,2423,6513,8733,984

4,0094,0674,1184,1884,240

4,2874,3814,4714,5334,583

4,6604,717

0)

()

CO275290121146331423617461393331

348327346352366

408431398397423

443

JanuaryFebruaryMarch.._AprilMayJune

4,670

4,6

July..AugustSeptemberOctoberNovember.December _

1961: January. _February.MarchAprilMayJune

4,710

~4~7~U

4,730

4,740

JulyAugust.. _September.October...NovemberDecember

4,755

4,770

(6)

8(6)318

271386337175

176209239282306

290276276299319

314342335347347

386

()132,916112,63896,10185,49192,92583,64992,819102,545117,164139,651140,775136,697150,280193,067

182,713181, 53818,20214,68117, 17315, 48415, 57116, 71014,70915,02814,04313, 78312,43514, 594

16, 35013,28116, 78314, 81516,37116,418

14, 48315,07913, 61615, 49214,04514. 805

103.9121.6133.4154.1100.361.161.747.845.961.1

7 69. 663.054.444.616.46.54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.4

51.050.751.154.954.167.264.859.665.263.362.063.461.164-262.9

60.7

62.6

6t'.569.563. 863.6

22,909

26,35528,28531,82219,85912,091

12,2449,6079,49012,83614,768

13,61911,8489,4053,2211,222

8091,1293,4745,2509,246

9,1628,0587,611

11,086

10,96912,68613,73914,96414,053

15,44517,0751,1811,2141,3351,3701,2731,3341,1461,3151,2691,3441,3111,353

1,4041,4491,6101,4411,5451,403

1,2751,6041,2851,4461, 3351,278

22;165

25,40827,23030,19718,88011, 42111,6919,2859,20312,55314,541

13,40011,6859,2823,1551,176

7591,0023,1034,8538,708

8,7467,6267,0818,07510,226

10,11311,61512, 54713,49912,707

13,65015,0061,0551,0911,1721,2351,1531,157

1,0081,1371,1181,1921,1261,2061,2411,2741,3691,2711,3701,206

1,1331,4121,1431,3011,1451,141

744947

1,0551,6257 979670

553322287283

"227

2191631236646

50127371397538

416432530787

8561,0711,1921,4651,346

1,7952,069

126123163135120177138178151152185147

163175241170175197

142192142145190137

483.3668.3736.3928.3457.5334.0310.6203.2183.3246.5182.5166.7136.1100.845.331.730.267.3

204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6

1,090.153.760.970.269.273.3

126.461.797.680.681.584.579.081.588.1

126.686.180.583.869.2

102.7116.7

70.3119.265.5

261.5303.5354.2432.6

7 215. 5138.5135.5102.8101.9140.1

7 132. 9119.9100.780.330. 214.511.415.763.793.9

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1

24.624.427.028.927.826.523.127.428.628.628.931.533.031.733.332.134.828.928.934.127.531.227.327.3

221.8364.8382.2495.7

7 242.0195.4

175.1100.481.4

106.47 49.7

46.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.029.036.643.240.345.5

100.038.670.252.052.955.647.548.656.493.354.045.755.040.268.689.139.092.038.2

1 Excludes firms in the fields of agriculture and professional services. Includes self-employed persononly if he has either an established place of business or at least one paid employee. Series revised beginning1951.

2 Data through 1939 are averages of end-of-quarter estimates centered at June 30. Beginning 1940, dataare for beginning of period. Quarterly data shown here are seasonally adjusted.

3 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.5 Failure rate per 10,000 listed enterprises. Monthly data are seasonally adjusted.6 Not available.7 Series revised; not strictly comparable with earlier data.s 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.)

Sources: Department of Commerce and Dun & Bradstreet, Inc.

287


AGRICULTURETABLE B-70.—Income from agriculture, 1929-61

Year or quarter

Income re-ceived by totalfarm popula-

tion fromagricultural

sources

Total 1 Farmwages2

Income received by farm operators from farming

Realized gross

Total 3

Cash re-ceiptsfrom

market-ings

Produc-tion ex-penses

Net

Exclud-ing netinven-tory

change

Includ-ing netinven-tory

change*

Net income perfarm includingnet inventory

change«

Current 1961prices •

Billions of dollars Dollars

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961

1960: I.__.II...III..IV..

1961: I*...11 8 .Ill».IV s.

7.0

5.14.02.53.03.4

5.95.06.85.15.2

5.37.5

11.113.213.4

14.017.017.519.814.7

15.718.117.315.114.4

13.513.413.615.413.1

13.714.8

0.9

. 8

.6

.5

.4

.5

.6

.6

.7

.7

.7

.7

.91.21.41.5

1.61.81.92.01.8

1.71.81.91.81.8

1.71.71.81.81.8

1.81.8

13.9

11.48.46.47.18.5

9.710.711.310.110.6

11.013.818.823.424.4

25.829.734.434.931.8

32.537.337.035.333.9

33.334.634.437.937.5

38.139.6

11.3

9.16.44.75.36.4

7.18.48.97.77.9

8.411.115.619.620.5

21.724.829.630.227.8

28.533.032.631.130.0

29.630.629.833.433.5

34.034.8

7.6

6.95.54.44.34.7

5.15.66.15.86.2

6.77.79.9

11.512.2

12.914.517.018.918.0

19.322.222.621.421.7

21.922.623.425.326.3

26.426.9

6.3

4.52.91.92.83.9

4.65.15.24.34.4

4.36.28.8

11.912.2

12.815.217.316.113.8

13.215.214.413.912.2

11.512.011.012.611.2

11.712.7

6.1

4.33.32.02.62.9

5.34.36.04.44.5

4.66.69.911.811.8

12.415.315.517.812.9

14.016.315.313.312.7

11.811.611.813.511.3

12.013.0

943

650506305382434

778643911675697

7201,0441,6001,9421,967

2,0802,5742,6483,0652,259

2,4792,9512,8292,502

7 2,700

7 2,572i 2,6117 2,7247 3,2267 2,760

7 2,9907 3,333

1,779

1,3271,177

8471,0321,033

1,8091,4952,0701,6071,700

1,7142,3203,1373,4073,278

3,3023,7303,2693,5642,689

2,9163,2083,0422,7202,903

2,7662,7782,8083,2592,788

2,9903,333


(9)(9)(9)(9)

(9)(9)(9)(9)

36.838.538.338.7

39.339.239.340.6

32.734.434.234.7

35.334.034.435.5

26.426.526.326.3

26.726.726.927.2

10.412.012.012.4

12.612.512.413.4

10.512.312.412.7

12.912.912.813.6

2,6203,0803,1003,180

3,3103,3103,2803,490

2,6503,0803,1003,180

3,3103,3103,2803,490

1 Net income of farm operators from farming (including net inventory change) and farm wages as shown.2 Farm wages received by farm resident workers.3 Cash receipts from marketings, Government payments, and nonmoney income furnished by farms.* Includes net change in inventory of crops and livestock valued at the average price for the year. Data

prior to 1946 differ from farm proprietors' income shown in Tables B-l l and B-14 because of revisions bythe Department of Agriculture not yet incorporated into the national income accounts of the Departmentof Commerce.

« Based on estimated number of farms as reported by the Department of Agriculture according to 1954Census of Agriculture definition, except as noted in footnote 7.

8 Income in current prices divided by the index of prices paid by farmers for family living items on a1961 base.

7 Per farm figures for 1954-61 based on interim approximations of number of farms consistent with the1959 Census of Agriculture definition of a farm.

8 Preliminary.»Not available.

Source: Department of Agriculture.

288


T A B L E B—71.—Indexes of prices received and prices paid by Jarmers, and parity ratio, 7929-67

[1910-14=100]

Year or month

1929

19301931193219331934

193519361937 . . .19381939

19401941194219431944

1945194C194719481949

1950195119521953...1954.

1955—1956..195719581959

1960 _1961 7.--

1960:JanuaryFebruaryMarchAprilM a y . _._June


1961:JanuaryFebruaryMarchApril ___.MayJune

July -AugustSeptemberOctoberNovemberDecember

Prices received by farmers

Allfarmprod-ucts l All

crops1

148

12587657090

1091141229795

100124159

«193•197

•207•236

276287250

258302288255246

235250240

238240

233234241242240235

234238241241242

241244243239236234

237241242240238240

Crops

135

116755771

1031081188082

90108145187199

202228263255224

265267240242

231235225223221

221226

220218221224225221

222219222222219217

218221224226230231

229229226223224

Foodgrains

116

9369446690

971081207672

8497120148166

172201271250218

224243244234

224225208202

203209

206208210209209199

194196197200204204

207209208202203200

201209214217218219

Feed grainsand hay

Total

118

10674485796

1071031257172

8592115152172

167202256258177

103226234206203

183182166154156

151151

151153153158158158

156152152147136141

146150150145151152

156154156154149150

Feedgrains

124

10971446797

1121101357372

8694117156175

168212275273176

198237242212209

187186169156157

150151

148150150155158159

158153153146132137

143148149143151153

158155157154147149

Cot-ton

To-bacco

150

104644968

101

99947074

83111156167172

179238274272246

282336310268274

272268263253267

254259

253240240244247250

265273272267254243

227240249250261

265276277286280

171

1409884107156

171163200173152

134157247319348

360376374380

402436432433443

437452466482506

500524

485495495494495494

491488510513517517

508517516516517516

516523542537530544

Oil-bear-ing

crops

143

111734457103

1271201299596

103138183202222

228

351242

276339296279304

249255244225219

214257

216216213216218216

213211208209213217

231250264286285261

261259242242248250

Livestock and products

Alllive-stockand

prod-ucts l

159

13498727081

114119126112107

109138171198196

211242288315272

280336306268249

234226244273256

253251

243247257257252248

249247251257260263

261263259251241236

241251252252250255

Meatani-mals

Dairyprod-ucts

155

13391635968

115118130113110

108143186203190

•207«248329361311

340409353288

246235275335313

296299

280289309311309303

300290285

298

304

305292286

288302303297291299

166

1421118687101

114125131115110

120140163

«1988222

•229«268273301252

249286303267246

247255259254257

259259

266261256244237235

244254269277282278

271263256247241240

248257266274275273

Poul-tryand

161

128

8174

116115111110

122152191177

198201223242221

186228206221178

191176162170143

160146

146145155163154149

149154163176182178

165169160145139131

138142138141140146


289


TABLE B-71.-—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-61—Continued

Year or month

1929 -.

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961 7

1960:JanuaryFebruaryMarchAprilM a yJuneJulyAugustSeptemberOctoberNovemberDecember _ _

1961:JanuaryFebruaryMarch _.AprilMayTuneJuly .August... ... -September -October _November -D e cember -

[1910-14= 100]

Prices paid by farmers

Allitems,in-

terest,taxes,andwagerates(parityindex)

160151130112109120

124124131124123124133152171182

190208240260251

256282287277277276278286293297299301

299299300302301299298298298296297298

301302302302302300300301301301301302

Commodities and services

Allitems

150140119102104118123123130122121

122130149165174

179197230250240

246271273261262

259260267273275

275276

275275276277277275274274274273274275

276277277277277275275276276276276277

Fam-ilylivingterns

154

144124106108122124124128122120

121130149165175

182202237251243

246268271269270270274282287288290291

289289289291291290290290289290291291

291291290290291290290290291291291292

Production items

Allproduc-tion

items 1

146

1351139999114

122122132122121

123130148164173

176191224250238

246273274256255

251250257264266265266

265266267268267265263262263262262265

267267268267266265264265266265265267

Feed

136122866473103

1061091249393

100108132156173

172200236250206

210236251227226211206201198199

194196

197197197199198196195193193191188189

194196197195199198198197197194194197

Motorve-

hicles

148144143141140148

150157162172165

163172186195211

218224260291320

320342358355355

358367395412425

420416

432

427

420420

414403

417

417

417

416416

415414

Farmma-chin-ery

153152150142138144

148150153158155

153155164170174

176182206240270

277298308311312

312326342357372382390

379

381

385

385

388

389

393

Fer-ti-lizer

13012611410093105

10498103102101

9898109116118

120121134146150144152156157158

155152153153152152154

152

153

153

154

In-ter-est 2

213

206197185164147

135125117110106

10298948479

75747678828998108117126136150163176194213228

213213213213213213213213213213213213

228228228228228228228228228228228228

Taxes3

279

281277254220188

178180181187185

189187189185185

192213237276298

320335350365381

394421440470496

534578

536536534534534534534534534534534534

578578578578578578578578578578578578

Wageates*

186

1771391048899

107114129130127

129151197262318

359387419442430

425470503513510

516536558574612

631641

6326SB63t649649649631631631613613613

636636636647647647648648648635636636

Par-ityatio*

92

8367586475

8892937877

819310S113108

10C112IK11C10(10110'10(958*&81858»8]8(81

71718(8(8477784888

888777788877

1 Includes items not shown separately.2 Interest payable per acre on farm real estate debt.3 Farm real estate taxes payable per acre (levied in preceding year).4 Monthly data are seasonally adjusted.8 Percentage ratio of prices received for all farm products to parity index.8 Includes wartime subsidy payments.7 Preliminary.Source: Department of Agriculture.

290


TABLE B-72.—Farm production indexes, 1929-61

[1947-49=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...

I960...1961 *__

Farmout-put i

74

7279767060

7265827979

8285969497

959895104101

101104108109109

113114114124125

128128

Total 2

79

7684807158

7664888382

8587979196

939893106101

9799104103101

105106106118117

121119

Feedgrains

83

7384957348

8053878483

859110496100

9710681116103

10497103101106

112112122135140

143130

Hayandforage

88

7579867967

9674879893

105106115109108

1121041029999

106110106109108

115109122122115

119117

Foodgrains

66

7276624544

5352727561

6776806985

899210810389

83821059685

80847911793

111102

Crops

Vege-tables

78

7980807784

8580868685

88899510398

10011197103100

102959610198

102109104108106

108114

Fruitsandnuts

76

7594767772

91729585101

9610210187101

9211010495101

101103100101102

102107103109111

108119

Cot-ton

104

98119919168

75871338483

8875908086

636183105112

7010610611596

103937780102

100101

To-bacco

75

8176496854

6558786993

7263706996

981141049898

101116112102111

109108838689

96100

Oilbear-ingcrops

21

2323211821

3427303647

5661929882

888491109100

115106104103116

128152147180158

170200

Livestock and products

Totals

77

7880818275

7277767985

8792102110105

10410110097103

107112112114117

120122121124128

126132

Meatani-mals

77

7882838673

6674717788

8994108120108

10310110097103

109117117116121

127123119124130

125130

Dairyprod-ucts

82

8486868785

8687868990

929610099101

10310210198101

101100100105107

108110111111109

110112

Poul-tryandeggs

63

6563636259

5963636570

7̂07789102102

106999896106

111116117120125

123136137145152

151164

1 Farm output measures the annual volume of farm production available for eventual human use throughsales from farms or consumption in farm households. Total excludes production of feed for horses and mules.

2 Includes production of feed for horses and mules and certain items not shown separately.1 Includes certain items not shown separately.4 Preliminary.


291


T A B L E R-73.—Selected measures of farm resources and inputs, 1929-61

Year

Croplandharvested(millionsof acres)1

Total

Exclu-sive ofuse forfeed forhorses

andmules

Live-stockbreed-

ingunits(1947-49=

)

Man-hoursof

farmwork(bil-lions)

Index numbers of Inputs (1947-49=100)

Total

98

9796939186

8889949194

9797101101101

999999100101

101104104103102

102102100101102

102101

Farmlabor

138

137140135135121

126122132123123

122120123121120

11310810310097

9091868378

7672686664

6261

Farmreal

estate'

98

9694919291

9394959697

9898969493

939698101101

103104105105106

106105105106106

106106

Me-chani-cal

powerandma-

chinery

53

5552484444

4548525555

5861666970

748089100111

118127133134135

136137138137139

140139

Ferti-lizerandlime

36

3628192125

2935413941

4852586675

78929798105

118126139143152

156158163167189

189193

Feed,seed,andlive-stockpur-

chases*

38

3732343433

3243404252

6365808890

1019710210197

101112113112115

120128130141149

152155

Miscel-laneous

1929

19301931193219331934

19351936193719381939

19401941194219431944....

19451946194719481949

1950195119521953....1954

19551956.--195719581959

19601961 «

365

365371340304

345323347349330

342346356361

354351354356

345344349348346

340326326328

323303

298

304303311281247

289269295301285

296302307319325

322322328

326326334335335

330317318321324

317297

94104117114

108107103

102103102100104

106104102100100

97

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

15.115.214.413.913.1

12.812.111.411.110.8

10.310.1

969910097

8487

92

94959797

97989997104

108112112115115

120124122127133

135136

i Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.* Animal units of breeding livestock, excluding horses and mules.* Includes buildings and improvements on land.* Nonfarm inputs associated with farmers' purchases.»Preliminary.


292


T A B L E B—74.—Farm population, employment, and productivity, 1929—61

y f l a ri ear

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—1958.—1959....

I960— _19618..

Farm popu-lation

(April 1) i

Num-ber

(thou-sands)

30,580

30,52930,84531,38832,39332,305

32,16131, 73731, 26630,98030,840

30, 54730, 27329,23426,68125,495

25,29526, 48327,12425,90325,954

25,05824,16024,28322,67922,099

22,43822,36221,60621,38821,172

7 20,541(»)

As per-cent oftotalpopu-

lation 2

25.1

24.824.925.125.825.6

25.324.824.323.923.6

23.122.721.719.518.4

18.118.718.817.717.4

16.515.715.514.213.6

13.613.312.612.312.0

7 11.4(«)

Netmigra-tion to

andfromfarms(thou-

sands) 8

- 4 7 7

- 6 1156607

- 4 6 3- 5 2 7

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

- 6 3 3- 1 , 4 2 4- 2 , 9 7 5- 1 , 5 6 3

- 5 6 4

864151

- 1 , 6 8 6- 3 7 1

- 1 , 3 1 4

- 1 , 3 0 2- 2 7 1

- 1 , 9 9 6- 9 6 2

- 2 5

- 4 3 5- 1 , 1 3 4

- 5 7 6- 5 4 8(«)

CO(«)

Farm employment(thousands)*

Total

12,763

12,49712,74512,81612,73912,627

12,73312,33111,97811,62211,338

10,97910,66910,50410,44610,219

10,00010,29510,38210,3639,964

9,9269.5469,1498,8648.639

8,3647,8207,5777,5257,384

7,1186,990

Familyworkers

9,360

9,3079,6429,9229,8749,765

9,8559,3509,0548,8158,611

8,3008,0177,9498,0107,988

7,8818,1068,1158,0267,712

7,5977,3107,0056,7756,579

6,3475,8995,6825,5705,459

5,2495,104

Hiredworkers

3,403

3,1903,1032,8942,8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362,1442,0892,060

2,017,921,895,955,925

L, 869L, 886

Perunit

oftotalinput

Farm output

Per man-hour

Total Crops Live-stock

Croppro-duc-tionper

acre 6

Live-stockpro-

ductionper

breed-ingunit

Index, 1947-49=100

76

7482827770

8273878784

8588959396

969996

104100

100100104106107

111112114123123

125127

54

5356565250

5753626464

6771787881

849192

104104

112114126131140

149158168188195

206210

51

5054555048

5750606363

6771787679

859291

104105

114112125129138

148161180203202

220225

76

7675757369

7073737679

8082889290

91949799

104

107114117120124

130136138144156

159167

79

7583797159

7665888585

8890999296

9510195

10699

9798

104103101

106109112126123

130134

84

8586858477

8486879191

9298989492

96949799

104

105109110114112

113117119124128

130135

i Farm population as denned by Department of Agriculture and Department of Commerce, i.e., civilianpopulation living on farms, both urban and rural, regardless of occupation, according to concept in useprior to 1960.

» Total population of United States as of July 1, excluding Alaska and Hawaii; includes armed forcesabroad.

s Net change for year beginning in April, estimated by Department of Agriculture. For 1940 and sub-sequent years, includes inductions and enlistments into the armed forces, and persons returning from thearmed forces. For all years, includes persons who have not moved but who are in and out of the farm popu -lation because agricultural operations have begun or have ceased on the place where they are living.

* 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 B-19) 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.• Not available.* On the basis of i960 Census definitions, farm population for 1960 is 15,635,000, or 8.7 percent of total popu-

lation. Comparable figures for earlier years are not yet available.• Preliminary.

Sources: Department of Agriculture and Department of Commerce.

293


TABLE R-75.—Comparative balance sheet of agriculture, 7929-€2


Beginningof year

Total

1929..

1930..1931..1932..1933..1934..

1935..1936..1937..1938-.1939..

1940._1941. .1942..1943..1944..

19451946194719481949

1950.1951.1952.1953.1954.

19551956195719581959

I960..1961.

Assets

Realestate

68.4

53.055.162.573.383.8

93.1102.113.9125.2132.1

130.8149.6165.6162.9159.7

164.7168.0176.2185.8201.9

202. S204.

Live-stock

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

75.386.896.096.694.7

98.8102.7109. 5116.3125.1

129.1130.6

Other physical assets

Ma-chin-eryand

motorvehi-cles

6.6

6.54.93.63.03.2

3.55.25.15.05.1

5.15.37.19.69.7

9.09.7

11.913.314.4

12.917.119.514.811.7

11.210.611.013.917.7

15.515.5

3.2

3.33.22.92.52.2

2.22.42.63.03.0

3.13.34.04.95.3

6.35.25.17.09.4

11.313.015.215.616.3

16.216.517.117 017.7

18.618.1

Crops

House-holdfur-

nish-ingsand

iquip-ment8

2.5

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

8.38.37.69.3

7.98.1

Depos-its

andcur-

rency

4.0

88

V /

84.34.34.54.64.6

4.74.85.46.27.0

7.88.79.5

10.210.8

11.411.912.412.813.1

13.513.7

Financial assets

U.S.savingsbonds

Invest-mentin co-opera-tives

Total

(3)

0.6

2.12.32.52.72.9

3.13.33.43.63.8

4.14.3

Claims

Realestatedebt

68.4

53.055.162.573.383.8

93.1102.0113.9125.2132.1

130.8149.6165.6162.9159.

164.168.0176.185.8201.9

202.9204.1

9.8

9.69.49.18.57.7

7.67.47.27.06.8

6.66.56.46.05.4

4.94.84.95.15.3

5.66.16.77.37.8

8.39.19.9

10.511.3

12.313.1

Otherdebt

Pro-prie-tors'

equi-ties

New basis *

3.8

<*>

43.044.752.063.374.9

84.894.0

105.4115.9120.7

118.3136.5151.0146.8142.6

146.9149.1156.7165.6178.6

178.8178.7

196019611962 5

?04?06211

813

134.8136.5140.6

1515(3

f>

)

1818

61

78q1

1010

13

9.18.7

4.74.6

4413

?04?06211.

813

1?1314.

310

111?13.

832

180180184.

771

1 Includes all crops held on farms for whatever purpose and crops held off farms as security for CommodityCredit Corporation loans. The latter on January 1,1961, totaled $648 million.

2 Estimated valuation for 1940, plus purchases minus depreciation since then.3 Not available.4 Tentative estimates based on revisions in process as a result of the 1959 Census of Agriculture.5 Preliminary.


294


INTERNATIONAL STATISTICS

TABLE B-76.—United States balance of payments, 1956-61 l


Type of transaction

Recorded transactions other than changesin monetary gold stock and in liquidliabilities:

United States payments: Total

Imports of goods and services: Total..

Merchandise, adjustedTransportationTravelMiscellaneous servicesMilitary expendituresIncome on investments:

PrivateGovernment

Unilateral transfers, net: Total

Government grants _____Remittances and pensions

United States capital, net: Total....

Private, net: Total

Direct investments, netNew issues __Redemptions0 ther long-term, netShort-term, net

Government, net* Total

Long-term capital, outflow..RepaymentsShort-term, net

United States receipts* Total

Exports of goods and services: Total..

Merchandise, adjustedTransportationTravelMiscellaneous services _.Military transactionsIncome on investments:

Direct investmentsOther privateGovernment

Foreign investments in the UnitedStates, other than liquid funds, net-

Balance on recorded transactions [netreceipts or net payments (—)]

Unrecorded transactions—errors and omis-sions [net receipts or net payments (—)]...

Increase in liquid liabilities to foreign coun-tries and international institutions

United States gold sales or purchases (—)

1956

25,846

19,829

12,8041,4081,275

8072,955

426154

2,398

1,733665

3,619

2,990

1,859453

— 174324528

629

545- 4 7 9

563

24,281

23,705

17,3791,642

7051,210

158

2,120297194

576

- 1 , 5 6 5

643

1,228

- 3 0 6

1957

27,374

20,923

13,2911,5691,372

8733,165

452201

2,318

1,616702

4,133

3,175

2,058597

- 1 7 9441258

958

993- 6 5 9

624

27,161

26,733

19,3901,999

7851,306

372

2,313363205

428

- 2 1 3

748

263

- 7 9 8

1958

27,206

21,053

12,9511,6361,460

9183,412

537139

2,338

1,616722

3,815

2,844

1,094955

- 8 5574306

971

1,176- 5 4 4

339

23,298

23,325

16,2631,672

8251,347

296

2,198417307

- 2 7

- 3 , 9 0 8

380

1,253

2,275

1959

28,689

23,537

15,2941,7591,610

9353,109

549281

2,424

1,633791

a 2,728

2,375

1,372624

- 9 5397

77

»353

2 1,051- 1 , 0 5 4

356

24,418

23,709

16,2821,646

9021,534

302

2,228466349

709

- 4 , 2 7 1

528

2 3,012

2 731

1960

30,781

23,327

14,7221,9421,744

9423,048

597332

2,489

1,641848

4,965

3,856

1,694573

- 1 0 0377

1,312

1,109

1,213- 6 3 1

527

27,500

27,300

19,4091,816

9681,567

335

2,338518349

200

- 3 , 2 8 1

- 6 4 8

2,227

1,702

January-September

1960

22,788

17,900

11,2371,5161,416

7082,321

438264

1,828

1,210618

3,060

2,299

961472

- 6 9233702

761

825- 4 5 0

386

20,265

19,974

14,2771,374

7521,139

250

1,602376204

291

- 2 , 523

- 1 9 6

1,938

781

1961

22,121

17,102

10,5501,4551,441

7762,245

436199

2,087

1,445642

2,932

2,494

1,194388

- 6 1141832

438

1,231- 1 , 0 0 6

213

21,134

20,662

14,5911,321

7371,197

340

1,801460215

472

- 9 8 7

- 1 8 4

886

285

* Excludes transfers of goods and services under military grant programs.» Excludes $1,375 million for increase in United States subscription to the International Monetary Fund,

of which $344 million was paid in gold and $1,031 million in non-interest-bearing notes.Source: Department of Commerce.

295


T A B L E R-77.—Major U.S. Government foreign assistance, by type and by area, total postwarperiod and fiscal years 1958-61

[Fiscal years, billions of dollars]

Fiscal year

Total, netTotal postwar 1 --19581959I960 ,1961

Investment in five interna-tional financial institutions4

Total postwar 1___1958-- --1959 _I960--1961

Under assistance programs, netTotal postwar *19581959I9601961

Net grants of military suppliesand services

Total postwar 1 -19581959 .19601961

Other aid, netTotal postwar l

19581959I960-1961 _ _ _ _ _

Net grants (less conver-sions)

Total postwar l -1958 -1959I9601961

Net credits (including con-versions)

Total postwar *1958 -1959I9601961

Other assistance (throughnet accumulation of for-eign currency claims)4

Total postwar i_. -1958195919601961

Total

84.74.86.04.24.0

4.9

1.4.11

79.84.84.74.13.9

28.82.32.22.01.7

51.02.52.42.12.2

35.91.51.61.61.8

12.2.6.7.1

3.0.3.2.4.4

WesternEurope

(excludingGreece

andTurkey)

39.51.1.7.4

- . 1

39.51.1.7.4

- . 1

14.7.8.7.8.6

24.8.4

- ! 6

17.0.2.1.2.1

7.1.2

- . 1- . 4- . 7

.6( 3 }

- . 1

Near East(including

Greeceand

Turkey)and South

Asia

12.61.31.51.51.6

12.61.31.51.51.6

4.5.6.5.4.3

8.1.7.9

1.11.3

4.8.3.5.4.6

1.8.1.2.3.4

1.5.2.2.3.3

OtherAfrica

0.8.1.1.2.2

.8,1.1.2.2

.1

(J)

.7

.1

.1

.2

.2

.4

.2

.3

(3)

(3)

1?s

Far Eastand

Pacific

20.01.71.51.51.5

20.01.71.51.51.5

8.6.8.8.7.7

11.4.9.7.7.8

10.3.8.7.7.7

.9

.1

( 3 ) ' 1

.3

1

AmericanRepub-

lics

3.4.4.6.3.4

3.4.4.6.3.4

.6

.1

.1

.1

.1

2.8.3.6.2.3

.9

.1

.1

.1

.1

1.8.2.5.1.2

.2(3)(3)

( 3 ) '

Interna-tional or-

ganiza-tions andunspeci-

fied areas

8.4.2

1.6

.4

4.9

1.4.1.1

3.4.2.2.2.3

.3(3)

3.1.2.2.2.3

2.4.1.1.1.2

(3)

1 Fiscal years 1946-61.2 Inter-American Development Bank, International Bank for Reconstruction and Development, Inter-

national Development Association, International Finance Corporation, and International MonetaryFund.

3 Less than $50 million.« Other assistance (net) represents the transfer of United States farm products in exchange for foreign

currencies, less the U.S. Government's disbursements of the currencies as grants, credit, or for purchases.


296


TABLE B—78.—United States merchandise export and imports, by economic category, 1949 and1956-61


Category 1949 1956 1957 1958 1959 1960

January-September

1960 1961

Domestic exports: Total *

AgriculturalNonagriculturaL.

Food and beveragesAgricultural foodstuffsNonagricultural foodstuffs.

Industrial supplies and materialsCotton, tobacco, and other ag-

riculturalNonagricultural industrial ma-

terials

Materials used in farming-

Capital equipment.Machinery and related itemsCommercial transportation

equipmentSpecial category equipment2—._

Consumer goods, nonfood

Government military sales and un-classified

General imports: Total

Industrial supplies and materialsPetroleum and productsNewsprint and paper base stocks.Materials associated with non-

durable goods outputSelected building materials (ex-

cluding metals)All other industrial supplies and

materials (associated mainlywith durable goods output)

Food and beverages

Materials used in farming-

Consumer goods, nonfood-

Capital equipment (including agri-cultural machinery)

All other and unclassified.

11,789

3,5788,211

2,3022,254

48

4,870

1,273

3,597

167

3,3782,296

918164

913

159

6,622

3,727485670

991

143

1,438

2,004

286

410

107

17,183

4,17013,013

2,7442,702

42

7,281

1,360

5,921

297

5,2713,568

1,454249

1,314

276

12,615

7,2991,2821,093

1,321

487

3,116

1,260

368

237

19,316

4,50614,810

2,7382,696

42

1,720

303

5,9314,028

1,626277

1,333

428

12,982

7,2011,5341,032

1,301

407

2,927

3,175

380

1,524

412

290

16,202

3,85412,348

2,5492,511

38

6,404

1,262

5,142

5,3288,667

1,423238

1,271

387

312,834

6,5851,610988

1,161

435

2,391

3,354

366

1,710

481

371

16,211

3,95512,256

2,7962,751

45

6,110

1,088

5,022

300

5,3633,706

1,369288

1,274.

15,207

8,0211,5361,089

1,556

603

3,237

3,364

366

2,424

618

414

19,351

4,82414, 527

3,0963,053

43

7,797

1,653

6,144

331

6,3564,109

1,789458

448

14,654

7,5931,5471,099

1,489

540

2,918

3,211

353

2,453

605

439

14,241

3,39210,849

2,2242,196

28

5,753

1,115

4,638

2414,7373,026

1,371340

950

11,179

5,8431,141

813

1,158

424

2,307

2,416

271

1,860

466

323

14,526

10,957

2,3412,315

26

5,654

1,170

4,484

251

4,9353,323

1,148464

1,006

339

10,535

5,4171,254

808

1,067

400

1,888

2,405

294

1,555

527

337

i Excludes military aid shipments of supplies and equipment under the Mutual Security Program,1956-61; in 1949, excludes military shipments under the Greek-Turkey and the China military aid programs.

3 Excludes Government military cash sales.1 Total adjusted to exclude $33 million of the value reported by economic category.


297


TABLE B-79.—United States merchandise exports and imports, by area, 1949 and 1956-61


Area

Exports (Including reexports):Total i

CanadaOther Western Hemisphere-Western EuropeOther EuropeAsia..OceaniaAfrica

General imports: Total

Canada - _.Other Western Hemisphere-Western EuropeOtjher EuropeAsia -OceaniaAfrica

1949

11, 560

1,9282,8203,980

651,997

175594

6,622

U 5122,483

90972

1,184125338

1956

17, 015

4,0354,0085,216

182,801

249688

12, 615

2,8943,9622,890

731,996

203597

1957

18,990

3,9354,8485,748

913,391

282695

12, 982

2,9074,1413,077

691,985

216587

1958

15, 919

3,4384,3344,509

1182,658

245618

»12, 834

2,6844,0493,297

681,997

209561

1959

15, 915

3,7433,7774,530

962,755

323691

15, 207

3,0424,0294,523

852,603

338589

1960

18, 834

3,7073,7556,299

2073,627

475765

14, 654

2,9023,9644,184

832,721

266535

January-October

1960

15, 485

3,1233,1415,128

1532,922

386632

12, 336

2,4303,3263,514

712,302

237456

1961

15, 772

3,0333,0425,173

1333,387

338667

11, 874

2,5433,0863,288

692,112

268506

1 Excludes special category items.2 Total adjusted to exclude $33 million of the value reported by area.Source: Department of Commerce.

298


T A B L E B—80.—Estimated gold reserves and dollar holdings of foreign countries and internationalorganizations, 1949 and 1956-61

[Millions of dollars; end of period]

Area and country 1949

18,677

6,10192820713149564370

3942,067932

2,027

1,516

3,07841851010113846327082236517343

2,008356

1,652

679

3,268

1956

32, 489

14,008377

1,0541,5573,3431,270983

8822,6431,899

3,015

2,986

4,314370550138210514604119260

1,061488

3,4001,1492,251

1,231

3,535

1957

32, 565

14, 683460

1,053944

4,1131,533957

9802,8131,830

3,080

3,180

4,54426345711621552556988236

1,556519

2,937716

2,221

1,222

2,919

1958

36, 543

17,244612

1,3911,2944,4072,2091,399

1,1212,8531,958

3,917

3,438

4,12321046414024145256596262

1,215478

3,2511,0952,156

1,199

3,371

1959

42,237

19, 254630

1,2791,9804,6403,1191,634

1,1132,9911,868

3,813

3,610

4,014393479228288296587111242932458

4,0081,5662,442

1,313

6,225

1960

46, 371

21,058539

1,3142,1656,4503,0801,783

9412,9571,829

4,887

3,770

3,64542048318023779541114232797562

4,4442,1692,275

1,273

7,294

1961

Sep-tember l

Total

Continental Western EuropeAustriaBelgiumFranceGermanyItalyNetherlandsScandinavian countries (Sweden,

Norway, Denmark, and Finland)..SwitzerlandOther

United Kingdom

Canada ..

Latin AmericaArgentinaBrazilChileColombiaCubaMexico _.PeruUruguayVenezuelaOther

AsiaJapanOther

All other countries

International

'48,267

23,071527

1,4793,0196,4033,3761,807

1,1453,2632,052

5,302

4,040

3,69844655217822346536124230847516

4,2471,9562,291

1,302

6,607

1 Preliminary.

NOTE.—Includes gold reserves and dollar holdings of all foreign countries (with the exception of goldreserves of U.S.S.R., other Eastern European countries, and Communist China), and of international or-ganizations (International Bank for Reconstruction and Development, International Monetary Fund,United Nations and others). Holdings of the Bank for International Settlements and the EuropeanPayments Union/European Fund and the Tripartite Commission for the Restitution of Monetary Goldare included under "other" Continental Western Europe.


299


T A B L E B-81.—Price changes in international trade, 1954-61

[1953=100]

Area or commodity class 1954

9898

102106

106111

105110

9899

103103

10713689

1009810195

9996

1955

9898

102105

99102

97100

99119

10099

9610387

102929586

102103

1956

10199

101102

9899

9696

103123

101100

9710086

101999287

109110

1957

10498

10198

9694

9391

106100

102101

989783

101959798

114107

1958

101102

9798

8989

8484

10690

9694

949482

90947869

108100

1959

99104

9396

8384

7878

10699

9493

898080

94987573

10399

1960

100105

9496

8585

80.81

109102

9393

887679

96928074

101101

1961

Thirdquarter

Area:

Developed areas:ExportsTerms of trade 1

Underdeveloped areas:ExportsTerms of trade i

Latin America:Exports.Terms of trade *

Latin America excluding petroleum:ExportsTerms of trade !

Commodity class:3

Manufactured goodsNonferrous base metals...

Primary commodities: TotalExcluding crude petroleum

FoodstuffsCoffee, tea, cocoaCereals

Other agricultural commoditiesFats, oils, oilseedsTextiles

Wool

MineralsMetal ores

101107

9295

>85»87

>80>82

110102

9190

856981

92888275

100102

1 Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.2 Data are for second quarter.3 Manufactured goods indexes are for exports. Primary commodities indexes are for exports and imports

combined.

NOTE.—Data shown for area groups and for manufactured goods are unit value indexes,are price indexes.

Data exclude trade of Soviet area and Communist China.

Source: United Nations.

All others

3OOU.S. GOVERNMENT PRINTING OFFICE: 1962 O — 6 2 1 8 7 6


erp1962 appendixes 2

Documents