erp1963 appendixes 3

Appendix C

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

165

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

CONTENTSNational income or expenditure: Page

C-l. Gross national product or expenditure, 1929-62 171C-2. Gross national product or expenditure, in 1962 prices, 1929-62 172G-3. Gross national product or expenditure, in 1954 prices, 1929-62 174C-4. Gross national product by major type of product, 1947-62 176C-5. Gross national product by major type of product, in 1954 prices,

1947-62 177C-6. Implicit price deflators for gross national product, 1929-62 178G-7. Gross national product: Receipts and expenditures by major economic

groups, 1929-62 180G-8. Gross private and government product, in current and 1962 prices,

1929-62 182C-9. Personal consumption expenditures, 1929-62 183G-10. Gross private domestic investment, 1929-62 184C-l l . National income by type of income, 1929-62 185C-l2. Relation of gross national product and national income, 1929-62. . . . 186C-l 3. Relation of national income and personal income, 1929-62 187C-l 4. Sources of personal income, 1929-62 188C-15. Disposition of personal income, 1929-62 190C—16. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1962 prices, 1929-62 191C-l 7. Financial saving by individuals, 1939-62 192C-18. Sources and uses of gross saving, 1929-62 193

Employment, wages, and productivity:C-l 9. Noninstitutional population and the labor force, 1929-62 194C-20. Employment and unemployment, by sex and age, 1947-62 196C—21. Employed persons not at work, by reason for not working, and special

groups of unemployed persons, 1946—62 197C-22. Selected measures of unemployment and part-time employment,

1948-62 198C-23. Unemployed persons, by duration of unemployment, 1947-62 199C-24. Unemployment insurance programs, selected data, 1940-62 200C-25. Number of wage and salary workers in nonagricultural establishments,

1929-62 201C-26. Average weekly hours of work in selected industries, 1929-62 203C-27. Average gross hourly earnings in selected industries, 1929-62 204C-28. Average gross weekly earnings in selected industries, 1929-62 205C-29. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-62 206C-30. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1962 prices, 1939-62 207C-31. Labor turnover rates in manufacturing industries, 1930-62 208C-32. Indexes of output per man-hour and related data, 1947-62 209

Production and business activity:C-33. Industrial production indexes, market groupings, 1947-62 210C-34. Industrial production indexes, industry groupings, 1947-62 211C-35. Business expenditures for new plant and equipment, 1939 and 1945-63. 213C-36. New construction activity, 1929-62 214

167


Production and business activity—Continued PageG-37. New public construction activity, 1929-62 215C-38. New housing starts and applications for financing, 1929-62 . 216G-39. Sales and inventories in manufacturing and trade, 1939-62 218C-40. Manufacturers' sales, inventories, and orders, 1939-62 219

Prices:G-41. Wholesale price indexes, 1929-62 220G-42. Wholesale price indexes, by stage of processing, 1947-62 222C-43. Consumer price indexes, by major groups, 1929-62 224G-44. Consumer price indexes, by special groups, 1935-62 225

Money supply, credit, and finance:C-45. Money supply, 1947-62 226C-46. Bank loans and investments, 1948-62 227C-47. Federal Reserve Bank credit and member bank reserves, 1929-62.... 228C-48. Bond yields and interest rates, 1929-62 229C-49. Short- and intermediate-term consumer credit outstanding, 1929-62.. 231C-50. Instalment credit extended and repaid, 1946-62 232C-51. Mortgage debt outstanding, by type of property and of financing,

1939-62 233C-52. Net public and private debt, 1929-62 234

Government finance:C-53. U.S. Government debt, by kind of obligation, 1929-62 235C-54. Estimated ownership of U.S. Government obligations, 1939-62 236C-55. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1946-62 237G-56. Federal budget receipts and expenditures and the public debt, 1929-64. 238C—57. Federal budget receipts by source and expenditures by function, fiscal

years 1946-64 239C-58. Government cash receipts from and payments to the public, 1946-64. 240C-59. Government receipts and expenditures in the national income ac-

counts, 1929-62 241G-60. Federal Government receipts and expenditures in the national income

accounts, 1946-64 242C-61. 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 1960-64 243

G-62. Estimated effects of new depreciation guidelines and investment taxcredit, 1962-63 244

C-63. State and local government revenues and expenditures, selected fiscalyears, 1927-61 245

Gorporate profits and finance:C-64. Profits before and after taxes, all private corporations, 1929-62 246C-65. Relation of profits after taxes to stockholders' equity and to sales,

private manufacturing corporations, by industry group, 1958-62. . . 247C-66. Relation of profits before and after taxes to stockholders' equity and

to sales, private manufacturing corporations, by asset size class,1958-62 249

C—67. Sources and uses of corporate funds, 1951—62 250C-68. Current assets and liabilities of United States corporations, 1939-62. . 251C-69. State and municipal and corporate securities offered, 1934H32 252C-70. Common stock prices, earnings, and yields and stock market credit,

1939-62 253C-71. Business population and business failures, 1929-62 254

168


Agriculture: PageC-72. Income from agriculture, 1929-62 255C—73. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-62 256C-74. Farm production indexes, 1929-62 258C—75. Selected measures of farm resources and inputs, 1929-62 259C-76. Farm population, employment, and productivity, 1929-62 2600—11. Comparative balance sheet of agriculture, 1929—63 261

International statistics:C-78. United States balance of payments, 1947-62 262G-79. Major U.S. Government foreign assistance, by type and by area,

total postwar period and fiscal years 1959-62 264C-80. United States merchandise exports and imports, by economic category,

1949 and 1957-62 265C-81. United States merchandise exports and imports, by area, 1949 and

1957-62 266G-82. Gold reserves and dollar holdings of foreign countries and inter-

national organizations, 1949, 1953, and 1957-62 267C-83. Price changes in international trade, 1954-62 268

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.

169


NATIONAL INCOME OR EXPENDITURE

TABLE G—1.—Gross national product or expenditure, 1929-62

[Billions of dollars]

Year orquarter

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

196019611962 6

1960: I

IV.._.1961: I

I I—.

1962: III—.

Totalgrossna-

tionalprod-uct

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.419.2442.8444.5482.7503.4518.7553.6

Per-sonalcon-

sump-tionex-

pendi-tures'

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0256.9269.285.2293.2313.328.5338.1356.7

Gross private domestic invest-ment2

Total

16.210.35.5.9

1.42.96.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.050.056.349.950.348.963.867.466.156.672.772.469.376.

New construc-tion

8.76.24.01.91.41.72.33.34.44.04.8

5.56.63.72.32.73.8

11.015.319.518.824.24.825.527.629.34.935.36.135.540.40.41.644.3

3.62.11.6

.5

.61.01.61.92.02.7

3.03.51.7.9.8

1.14.87.5

10.19.6

14.112.512.813.815.418.717.717.018.022.321.121.023.1

5.14.12.41.21.01.11.31.72.52.02.1

2.53.12.01.41.92.76.37.79.39.2

10.112.312.713.814.316.217.819.017.417.919.720.21.2

5.84.52.81.61.62.3

3.14.25.13.64.2

5.56.94.34.05.4

7.710.716.718.917.2

18.921.321.322.320.823.127.228.523.125.927.625.528.8

1.7- . 4

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

.91.02.2

- . 9.4

2.24.51.8

- . 8-1 .0- 1 . 1

6.4- . 54.7

-3 .16.8

10.23.1.4

-1 .65.84.71.6

- 2 . 06.64.12.13.1

Netex-

portsof

goodsandserv-ices'

0.8.7.2.2.2.4

1.1.9

1.51.1

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

4.99.03.5

2.41.3

- . 41.01.12.94.91.2

- . 82.94.03.1

Government purchases of goodsand services

Total

8.59.29.28.18.0

10.011.811.712.813.314.124.859.788.696.582.930.528.434.540.2

39.060.576.082.875.3

75.679.086.593.597.99.7

107.4117.6

Federal

Total

1.31.41.51.52.03.02.94.84.65.35.26.2

16.952.081.2

74.820.615.619.322.2

19.338.852.958.047.545.345.749.752.653.653.257.062.6

1.31 41.51.52.03.02.94.84.65.3

1.3 3.92.2

13.849.680.488.675.918.811.411.613.6

14.333.946.449.341.2

39.140.444.444.846.2

45.749.053.7

Stateandlocal

Seasonally adjusted annual rates

501.7504.8503.7503.3500.8513.1522.3538.6545.0552.0555.3562.0

323.9329.9329.8330.5330.5335.5340.1346.1350. 2354.9358.2363.5

79.173.570.366.560.167.672.476.675.977.476.375.0

40.940.740.540.739.341.042.643.241.644.546.144.9

21.521.221.020.519.020.121.922.821.223.324.323.7

19.319.519.520.220.320.820.720.420.521.221.821.3

27.428.427.726.824.424.625.827.427.628.929.229.6

10.84.42.1

—1.1- 3 . 6

2.14.06.0

6.74.01.0.5

1.42.42.84.9

5.34.02.83.8

3.73.72.52.5

97.299.0

100.8101.4104.8106.0106.9112.1115.2116.0118.2121.0

52.553.153.653.655.456.656.559.561.962.162.763.7

45.445.845.745.847.749.048.450.853.053.254.054.6

7.58.08.48.4

8.28.58.79.2

9.69.59.6

10.0

0.4.7. 5.6

. 5

.8

.6

.6

.6

.6

.8

.8

7.27.87.76.66.06.8

7.17.07.27.58.27.97.87.77.47.58.19.9

12.715.217.919.721.723.224.927.730.333.236.840.843.646.550.455.0

44.745.947.247.849.449.450.452.653.354.055.557.3

1 See Table C-9 for major components.2 See Table C-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 C-7 for exports and importsseparately.

4 This category corresponds closely to the national defense classification in the Budget of the United StatesGovernment for the Fiscal Year ending June SO, 1964. See also Table C-57.

« Less than $50 million.• Preliminary estimates by Council of Economic Advisers.

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

Source: Department of Commerce (except as noted).

171


TABLE G-2.—Gross national product or expenditure, in 1962 prices, 7929-62 1

[Billions of dollars, 1962 prices]

Year or quarter

1929 _

1930193119321933 _1934

19351936193719381939

194019411942 - -19431944

19451946194719481949

19501951. .19521 9 5 3 . . .1954

19551956 - . -19571958 . . .1959

I960 .19611962 6

I960* IIIIIIIV

1961: IIIIII ._..IV

1962: IIIIII..IV o...

Totalgross

nationalproduct

212.0

192.5178.2151.9148.2162.3

177.8202.7213.2203.9220.7

239.3278.6318.5358.7384.8

377.5328.4327.9340.7341.7

370.0400.4415.8434.8426.3

459.6469.4478.5471.1502.6

515. 8525 5553.6

Personal consumptionexpenditures

Total

143.6

135.0130.9119.1116.3122.3

129.8142.9147.9145.4153.5

161.7172.3168.9173.4179.6

192.1215.0218.6222.8228.5

242.2244.5250.9262.8266.3

286.1295.7303.6306.3323.6

334.3341.3356.7

Dura-ble

goods

15.7

12.510.88.27.99.1

11.313.914.511.814.0

16.118.611.59.99.1

10.320.424.625.927.7

33.830.730.034.934.2

41.740.140.637.543.2

44.543.947.6

Non-durablegoods

71.2

67.767.462.060.264.2

67.875.578.179.483.6

87.593.495.298.2

102.5

110.6117.4114.8114.6115.9

119.1121.3125.4129.0130.1

136.8142.1144.6145. 3151.3

154.2156.3162.0

Services

56.7

54.852.748.948.249.0

50.853.555.354.255.9

58.060.462.265.368.1

71.277.279.282.384.8

89.392.495.599.0

102.0

107.6113.5118.4123.5129.1

135.6141.2147.2

Gross private domestic investment

Total

42.6

29.218.15.25.89.9

18.825.931.818.926.3

34.743.822.513.515.1

20.950.950.959.547.5

67.069.661.161.859.3

75.374.770.259.474.4

73.370.176.2

New construction

Total

25.6

19.113.47.45.76.3

8.311.513.812.314.8

16.618.69.65.46.0

8.221.224.327.627.2

33.331.831.733.736.2

41.239.538.837.841.8

41.742.444.3

Resi-dentialnon-farm

10.2

6.05.02.51.92.2

3.65.45.86.08.0

8.69.34.22.01.7

2.28.6

11.313.413.2

18.315.115.116.018.1

21.419.118.019.123.0

21.421.423.1

Other

15.4

13.18.45.03.84.1

4.66.28.06.46.8

8.09.35.33.44.3

6.112.713.014.214.0

15.016.716.617.618.1

19.920.420.818.718.8

20.421.021.2

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

27.430.329.923.626.0

27.525.628.8

Changein busi-ness

inven-tories

3 4

— 62 4

—6 5—4 4—2 5

2 43 25 3

- 2 31 2

4.99 63 9

- . 2—2 0

—2 810.1

.24.2

—3 8

7.911.12.9

.8- 2 . 2

6.75.01.5

- 2 . 06.6

4.02.13.1


516.6518.3515.3512.6509.0520.5528.5543.7548.4552.6554.2559.1

331.2335.8335.2335.0334.6339.3343.2348.3352.0355 3357.8361.6

44.745.344.044.141.143.643.946.846.547.047.049.8

153.3155.2154.8153. 4154.3155.2157.4158.0160.4161 6163.0163.0

133.2135.4136.4137.5139.1140.4141.8143.5145.2146 8147.8148.9

80.574.470.967.561.068.473.277.476.477.575.974.8

42.141.741.441.840.241.843.343.942.144.645.844.6

21.921.521.320.919.420.522.223.221.423.424.123.5

20.220.220.120.920.821.321.220.720.721.321.721.1

27.428.327.626.924.424.625.827.627.628.929.129.7

11.04.42.0

- 1 . 2

- 3 . 62.14.16.0

6.74.01.0.5

See footnotes at end of table.

172


TABLE G—2.—Gross national product or expenditure, in 1962 prices, 1929-62 l—Continued


Year or quarter

1929

19301931193219331934

19351936193719381939 _

1940 -1941194219431944

1945 -__ _1946194719481949 _ _ _

19501951195219531954

1955195619571958 - -1959

I960 _ _19611962 8

I960: IIII I IIV ______ __

1961- IIII l lIV _

1962: IIIIII ,IV •

Netexportsof goods

andservicesa

1.4

1.2.6.4

- . 1.1

—1.1- 1 . 3- . 61.81.3

2.1.5

-2 .0-5 .7-5 .8

-4 .45.49.93.44.1

1.84.03.0

.82.8

2.94.86.32.1

.2

4.14.43.1

Government purchases of goods and services

Total

24.5

27.128.527.126.230.0

30.335.234.137.839.6

40.861.9

129.2177.6195.9

168.957.148.554.961.6

59.082.4

100.9109.397.9

95.394.298.4

103.3104.5

104.1109.6117.6

Federal

Total 3

3.8

4.34.75.06.88.9

8.613.212.314.714.1

16.939.4

108.7158.9177.6

150.236.224.829.332.4

27.750.468.375.461.0

55.853.555.557.056.3

54.357.162.6

Nationaldefense 3 4

( 5 )

( 5 )

(5)(5)(5)

wC5)(6)

3.4

6.032.0

103.1156.0174.5

148.228.316.216.819.5

20.343.659.663.752.4

47.746.849.148.150.1

46.148.453.0

Other

(5)

(5)(5)

(•)

(5)

10.7

10.87.45.62.93.1

2.17.98.6

12.512.9

7.56.88.7

11.78.6

8.16.76.49.06.2

8.28.79.7

State andlocal

20.7

22.723.822.119.521.1

21.722.121.823.125.5

23.922.520.518.718.3

18.720.923.725.629.2

31.332.032.633.936.9

39. 540.742.946.348.2

49.852.555.0


2.73.64.05.9

6.14.23.34.1

4.03.42.42.5

102.3104.4105.1104.3

107.3108.7108.8113.8

116.0116.3118.0120.2

53.955.054.753.6

55.156.956.659.9

62.062.362.863.3

46.246.746.145.2

46.948.447.850.6

52.452.853.253.4

7.78.38.68.4

8.18.58.79.3

9.69.59.69.8

48.449.450.450.7

52.251.752.253.9

54.054.055.256.9

1 These estimates represent an approximate conversion of the Department of Commerce series in 1954prices. (See Tables C-3 and O-6.) This was done by major components, using the implicit price indexesconverted to a 1962 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.

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

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

* See footnote 4, Table C-l.8 Not available separately. 6 Preliminary estimates by Council of Economic Advisers.NOTE.—Data for Alaska and Hawaii included beginning 1960.Sources: Department of Commerce and Council of Economic Advisers.

173


TABLE C-3.—Gross national product or expenditure, in 1954 prices, 7929-62 1


Year or quarter

1929

19301931193219331934

19351936193719381939

194019411942 __ _.19431944

19451946194719481949

19501951195219531954

19551956 _195719581959

I 9 6 0 . . .19611962« _.-

I960' IIIIIIIV

1961- IIIIII _IV

1962* IIIIIIIV «

Totalgross

nationalproduct

181.8

164.5153.0130.1126.6138.5

152.9173.3183.5175.1189.3

205.8238.1266.9296.7317.9

314.0282.5282.3293.1292.7

318.1341.8353.5369.0363.1

392.7400.9408.6401 3428.6

440.2447.9471.5

Personal consumption

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

256.0264.3271.2273.2288.9

298.3304.3318.1

expenditures

Dur-able

goods

14.9

11.810.3

7.87.58.6

10.713.113.811.213.3

15.317.610.99.48.6

9.819.423.324.626.3

32.129.228.533.132.4

39.638.038.535.641.0

42.241.645.1

Non-durablegoods

65.3

62.161.866.955.268.8

62.169.271.672.876.7

80.285.687.390.094.0

101.4107.6105.3105.1106.3

109.2111.2115.0118.3119.3

125.4130.3132.6133.3138.7

141.4143.3148.5

Serv-ices

48.0

46.444.641.440.841.5

42.945.346.845.947.2

49.151.152.655.267.6

60.265.367.069.671.7

75.578.280.883.786.3

91.096.0

100.1104.4109.2

114.7119.4124.5

Total

35.0

23.615.03.94.07.4

16.121.027.015.521.6

29.036.718.810.712.3

17.042.441.549.838.5

55.957.750.450.648.9

62.561.758.149.061.7

60.757.862.9

dross private domestic investment

New construction

Total

20.9

15.410.9

6.04.65.1

6.79.4

11.310.112.2

13.615.3

7.84.44.8

6.617.319.922.722.3

27.426.026.027.629.7

33.932.331.831.134.4

34.334.836.4


8.7

5.14.22.11.61.9

3.14.65.05.16.8

7.37.93.61.71.4

1.87.39.6

11.411.2

15.512.912.813.615.4

18.216.215.316.219.5

18.218.219.6

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

15.716.116.514.814.9

16.116.616.8

Pro-ducers'durableequip-ment

11.1

8.85.93.53.75.0

6.79.2

10.57.38.5

10.912.9

7.46.99.2

12.716.121.722.819.8

21.322.021.822.520.8

22.525.024.619.421.4

22.721.123.7

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

— 1.55.9

3.72.02.8


440 9442.3439.7437.7

433.9443.9450.4463.4

467.4470.8471.6476.1

295.6299.7299.1298.8

298.2302.5306.0310.6

313.9316.9319.0322.6

42.443.041.841.8

39.041.341.744.4

44.144.644.647.2

140.6142.3141.9140.7

141.5142.3144.4144.9

147.0148.1149.5149.5

112.6114.5115.4116.3

117.7118.8120.0121.4

122.8124.1125.0125.9

66.761.558.655.8

50.056.560.464.1

63.364.162.461.7

34.634.234.034.3

33.034.335.636.1

34.636.737.736.6

18.618.218.117.8

16.517.418.819.7

18.219.920.520.0

16.016.015.916.5

16.516.916.716.4

16.416.817.216.7

22.623.322.722.2

20.120.221.322.7

22.823.824.024.4

9.64.01.9

- . 7

- 3 . 02.03.55.4

5.93.7

. 8

. 6


174


TABLE C-3.—Gross national product or expenditure, in 1954 prices, 1929-62l—Continued


Year or quarter

Net exports of goods and

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 .63.88.02.02.6

.22.21.2

- . 91.0

.92.53.8

- . 2- 2 . 1

1.51.8

.4

services 2

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

19.222.424.421.421.9

24.925.326.3

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 A

14.215.115.717.316.5

18.319.820.621.624.1

23.423.526.0

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

79.884.090.2

Federal 3

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

42.344.548.8

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

37.439.441.4

Grossprivateproduct *

1929..

1930.1931-1932.1933.1934.

1935..1936.1937.

1939.

1940.1941.1942.1943.1944.

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

1950.1951.1952.1953.1954-

1955.1956.1957.1958.1959.

I960. . .1961. . .1962«_.

1960: I — .I I—III..IV-

1961: I—-II—III..IV-

1962: III.—Ill—IV «..


0.21.01.53.3

3.51.7

.71.4

1.3.7

- . 3- . 2

24.025.125.025.6

25.724.425.126.2

26.126.626.226.4

23.824.023.522.3

22.222.724.424.8

24.825.926.526.6

78.480.080.579.9

82.283.383.387.2

88.989.290.592.1

42.042.942.741.8

42.944.444.146.7

48.348.649.049.3

36.437.137.838.1

39.238.939.240.5

40.640.641.542.8

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

360.4368.2375.4367.5394.8

405.5412.3434.2

405.7407. 5404.9402.8

408.6414.6427.0

430.4433.6434.3438.6

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 C-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.

* Net of Government sales.* 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.1 Preliminary estimates by Council of Economic Advisers.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).


TABLE C-4.—Gross national product by major type of product, 1947—62


Total

Year or quarter na-tionalprod-uct

Finalsales

Inven-tory-

change

Goods output

Total Durablegoods

Nondurablegoods

194719481949

19501951195219531954

19551956195719581959

196019611962

1960:IIIIIIIV

1961:IIIIIIIV

1962:IIIIIIIV i

234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444. 5482.7

503.4518.7553.6

234.8254.7261.1

277.8318.7343.9364.9364.8

391.7414.5441.2446.5476.1

499. 4516.6550.5

- 0 . 5 143. 84.7

- 3 . 1157.0149.3

144.3152.3152.4

6. 8 163.10.3.1

2 191198.2

156.8.8 181.6

4 206.195.2

6.9 206. 4- 1 . 6 197.4 199.0

5.8 217.2 211.44.7 227. 6i 223.0

! 236. 6- 2 . 0 229. 4 231. 4

0. 6 244.0

1. 6 238.2-2.6. 6 250.

4.2.13.1 276. 7 273.6

1 258. 2 254.1259. 4 257. 2

-0.54.7

-3.1

10.23.1.4

- 1 .

5.4.71.6

- 2 . 06.6

4.12.13.1

47.449.47.9

60.774.475.79.871.

84.389.694.580.495.0

97.24.0

46.048.949.9

56.767.574.578.974.1

81.386.793.483.391.5

95.094.0

1.4.9

-2.1

96.49 107.2

98.2103.4

101. 5 102. 4

-1.83.8

-1.0

71.878.183.5

4.0 102. 9 100.16.1.

-2. 5

6. 9 117. 42 122.

114.1!. 6 120. 7. 0 127. 5

125. 9 125.09 127.

3.02.81.0

-2.3.5

132.9 130.2138.1 136.2143.7 143. 2

8 149.0 148.1155. 6 152. 5

160. 9 159. 2

2.83.3 102.91. 9 112. 3

- . 5 119. 5. 9 124.1

2. 7 133.41.8 143.3

5 154. 59 164.2

3.1 175.8

104. 6 103. 0

2.3.0

1. 6 172.10 165.4 163.3

170.7

1.8 188. 62.1.4 214.


501.7504.8503.7503.3

500.8513.1522.3538.6

545.0552.0555.3562.0

490.8500.4501.5504.4

504.4511.0518.3532.6

547.9554.2561.5

10. 8 262.14. 4 260.

251.3i.2

254.91 253.0 254.1

2.1 257.1- 1 .

4.0 276.1.0 275.

- 3 . 6 248. 0 251. 62.1 256. 6 254. 44.0 261. 8 257. 86.0 271.0 265.0

274. 9 268. 2!. 6, 7

. 5 279. 6 279.0

7 272.7 274.

10. 8 102. 64.42.1

— 1.1

- 3 . 62.14.0

4.0

1.795.90.9

84.91.397.7

6.0 102. 3

6. 7 103. 4104.

1.0 104.. 5 105.

94.096.994.894.2

90.292.694.398.8

5 102. 6.0

8 106. 5

8.2.81.0

6 159.. 5 157.3160. 9 159. 3161. 2 160.1

- 3 . 3 162.2 160.0

- 5 .- 1 . 3 165.

3.51.1.9

- . 7 173.

. 5 163. 3 161. 45. 3 161. 8

3.4 164. 2 163. 53. 5 168. 8 166.3

171. 5 168. 4172. 2 170.0170. 8 171. 7

;. 8 172. 5

2. 2 183.1.1.12. 2 193.1

6 187

1.3.4

189.9

199.06 201.3

2. 5 206. 6

.1

. 5

.91. 3 218. 6

1 2112 213.

18.724.325.2

31.234.236.439.041.6

46.948.250.150.956.3

56.758.662.1

55.856.456.8

57.559.261.0

59.061.863.663.9

i Preliminary estimates by Council of Economic Advisers.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

I76


TABLE G-5.—Gross national product by major type of product, in 1954 prices, 1947-62 1


Year orquarter

Totalgrossna-

tionalprod-uct

FinalInven-torychange

Totalgoods

Goods output

Total

Finalsales

Inven-torychange

Total

Durable goods

Finalsales

Inven-tory

changeTotal

Nondurable goods

Finalsales

Inven-tory

change

Serv-ices

Con-struc-tion

194719481049

19501951195219531954

19551956195719581959

196019611962'

1960: II I . . .I l l—

1961: II I . . . .I l l—

282.3293.1292.7

318.1341.8353.5369.0

392.7400.9408.6401.3428.6

440.2447.9471.5

282.4288.7296.3

310.9332.1350.9368.5364.8

396.4406.9402.422.7

436.5446.0468.7

-0.14.4

-3.6

7.29.72.6.5

-1.6

6.14.51.6

-1.55.9

3.72.02.8

163.3167.7162.3

177.6191.7196.8207.7197.4

216.9221.4223.4211.5228.8

234.0233.5247.1

163.4163.4165.9

170.4182.0194.2207.2199.0

210.8217.0221.7213.1222.9

230.3231.5244.4

-0.14.4

-3.6

7.29.72.6.5

-1.6

6.14.51.6

- t . 55.9

3.72.02.8

55.855.451.9

65.374.675.180.871.6

83.184.985.571.782.9

85.082.190.7

54.354.654.3

61.067.473.979.874.1

80.182.384.574.180.0

82.982.089.4

1.5.8

-2.4

4.37.11.21.0

-2.5

3.02.71.0

-2.43.0

2.1.1

1.4

107.5112.3110.5

112.3117.1121.8126.9125.9

133.8136.5137.9139.8145.9

149.1151.4156.4

109.2108.8111.6

109.4114.5120.3127.4125.0

130.7134.7137.2139.0143.0

147.5149.5155.0

-1 .63.5

-1 .2

2.92.61.5

- . 5

3.11.8.7.8

2.9

1.61.81.4

94.797.2

100.7

105.0114.2119.8122.5124.1

130.2135.5141.2145.2151.4

158.3165.2173.2


1962: II I — .III. . .IV 2.

440.9442.3439.7437.7

433.9443.9450.4463.4

467.4470.8471.6476.1

431.3438.3437.7438.4

436.9441.9446.9458.1

461.5467.470.8475.5

4.01.9

- . 7

-3.02.03.5.4

5.93.7.8.6

238.0236.3233.1228.8

223.5231.2235.3243.7

246.4247.1245.8249.3

228.4232.3231.1229.5

226.5229.2231.8238.4

240.243.4245.0248.6

9.64.01.9

- . 7

-3.02.03.55.4

5.93.7

.8

.6

89.387.083.680.0

74.379.785.089.4

89.990.390.891.9

81.884.482.682.7

78.880.782.086.3

87.088.789.192.5

7. 52.5

9-2^6

- 4 .- 1 .

3.3

211

6001

9666

148.7149.3149.5148.7

149.3151.5150.3154.4

156.5156.8155.0157.3

146.7147.9148.5146.8

147.7148.5149.8152.1

153.5154. 7155.9156.1

2.11.41.02.0

1.63.1

.52.2

3.02.1

nL 2

155. 5158.3158.8160.7

162.5164.2165.4168.7

171.8172.7173.7174.5

47.447.747.848.2

47.948.549.751.0

49.251.052.152.3

24.328.229.7

35.436.036.938.841.6

45.643.944.044.548.3

47.849.351.2

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.

2 Preliminary estimates by Council of Economic Advisers.



669333 0—63 177


TABLE C—6.—Implicit price deflators for gross national product, 1929-62

[Index numbers, 1954=100]

Gross private domesticinvestment i

Year or quarter

1029

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959..

196019611962 2

1960: I — .I I _ -III_.IV . .

1961: I — .II . . .III. .IV. .

1962: I — .II . . .III_.IV 2.

Grossnational

prod-uct i

57.4

55.449.944.944.246.9

47.447.749.548.748.1

48.952.959.664.966.5

68.074.683.088.588.2

89.596.298.199.0

100.0

101.2104.6108.4110.8112.6

114.4115.8117.4

113.8114.1114.6115.0

115.4115.6116.0116.2

116.6117.2117.7118.1

Personal consumption

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

100.4102.1105.1107.3108.5

110.1111.1112.1

109.6110.1110.3110.6

110.8110.9111.1111.4

111.6112.0112.3112.7

expenditures

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

106.1105.2105.4

106.4106.6106.5105.1

104.6105.3105.5105.1

104.9106.0105.6105.3

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

99.5100.9103.9106.3106.0

107.4108.3109.1

106.7107.2107.4108.3

108.5108.1108.2108.5

108.7108.9109.1109.5

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

115.0116.5118.2

114.4114.9115.1115.5

115.7116.2116.6117.3

117.4117.9118.5119.2

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

103.1109.8113.5114.2116.8

118.8119.6121.7

118.2118.9119.1118.9

119.2119.5119.9119.8

120.4121.3122.4122.7


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

103.0109.0111.2111.2114.3

115.9115.8117.7

115.8116.3116.1115.5

115.0115.7116.3116.1

116.2117.3118.5118.6

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

103.2110.7115.7117.6120.1

122.0123.7126.4

121.1121.9122.4122.6

123.4123.4123.7124.3

125.0126.0126.9127.5

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

102.6109.0115.7118.9121.4

121.6121.3121.5

121.5121.9122.0121.1

121.6121.5121.4120.7

121.2121.8121.8121.1


178


TABLE C-6.—Implicit price deflators for gross national product, 1929-62—Continued

[Index numbers, 1954= 100]

Year or quarter

1929 .

19301931193219331934

1935 _.1936193719381939

1940194119421943 . . .1944

1945. .1946194719481949

I9601951.1952 . .1953 . . .1964

19551956195719581959 . .

1960 .19611962 2

1960: I-III I I .I V

1961: I . . . . . .I I .I l lI V .

1962: I_.._II... _ __IIIIV 2 __

Exports and imports ofgoods and services 1

Exports

63.1

55.043.236.235.243.0

44.746.048.946.546.9

51.256.164.968.173.3

75.380.893.498.692.7

90.3103.3103.0101.0100.0

100.7103.4107.4105.9104.3

105 8107.6108.2

105.4105.8106.1106.0

106.8108.4107.3108.1

108.1109.1108.2107.2

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

99.9101.8103.299.298.2

100 399.197.7

100 4100.5100.699.8

99.898.898.898.8

98.897.897.496.8

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

103.3109.2114.6117.9121.4

125 0127.9130.4

124 0123.7125.2127.0

127.6127.3128.3128.4

129.5130.1130.7131.4

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

104.1109.7114.9118.3122.2

125.6128.0128.3

125.0123.7125.5128.3

129.1127.6128.1127.3

128.2127.8128.1129.1

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

124.2127.9133.0

122.8123.6124.8125.5

125.9127.0128.6129.7

131.1132.9133.7134.1

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, 1958.2 Preliminary estimates by Council of Economic Advisers.

NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

179


TABLE C-7.—Gross national product: Receipts and expenditures by major economic groups,1929-62


Year or quarter

Persons

Dis-pos-ableper-

sonalincome

Per-sonalcon-

sump-tionex-

pend-itures

Per-sonal

savingor dis-saving

Business

Grossre-

tainedearn-ings i

Grossprivate

do-mesticinvest-ment

Excessof re-ceiptsor in-vest-ment

For-eignnet

trans-fers by

gov-ern-

ment2

International

Netexports

Net exports of goodsand services 2

Ex-ports

Im-ports

Excessof

trans-fers ornet ex-ports()

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

I96019611962

1960: I —II...III.IV..

1961: IIIII.IV..

1962: II I . . . .III . . .IV«_

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9308.8317.9337.1

349.4363.6'382.7

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7100.5109.8

121.7147.1165.4178.3181.2

195.02,09.8219.8232.6238.0

256.9269.9285.2293.2313.5

328.5338.1356.7

4.2

3.42.5

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.6

20.925.626.0

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

42.143.045.644.851.3

52.153.6

« 57.9

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.7

72.469.376.2

- 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

-21.8-24.3-20.5-11.9-21.4

-20.3-15.61-18.3

0.3.1

1.63.2

2.82.11.51.61.4

.5

.5

.5

.3.5

0.8

.7

.2

.2

.2

.4

- . 1- . 1

.11.1.9

1.51.1

- . 2-2 .2- 2 . 1

-1 .44.99.03.53.8

.62.41.3

- . 41.0

1.12.94.91.2

2.94.03.1

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

19.423.126.222.722.9

26.427.328.4

6.3

4.83.42.32.32.5

3.33.64.53.23.-S

4.85.16.87.5

8.87.98.9

11.010.2

12.515.516.117.016.5

18.320.221.321.523.6

23.523.325.4


344.0349.6351.7352.7

354.3361.0366.3372.6

375.6381.8384.1389.3

323.9329.9329.8330.5

330.5335.5340.1346.1

350.2354.9358.2363.5

20.119.722.022.2

23.825.526.326.5

25.426.926.025.8

52.652.452.051.2

50.053.254.157.0

57.257.657.7(7)

79.173.570.366.5

60.167.672.476.6

75.977.476.375.0

-26.5-21.1-18.2-15.3

-10.1-14.4-18.3-19.6

-18.7-19.9-18.6

(7)

1.51.61.51.6

1.61.51.51.6

1.71.71.81.5

1.42.42.84.9

5.34.02.83.8

3.73.72.52.5

25.326.526.527.2

27.426.426.928.3

28.229.028.328.3

23.924.223.622.3

22.222.424.124.5

24.525.325.825.8


180


TABLE G-7.—Gross national product: Receipts and expenditures ,7929-62—Continued


1 major economic groups,

Year or quarter

1929.. .

1930.. .1931.. .1932.. .1933. . .1934.. .

1935. .1936...1937.. .1938. . .1939.. .

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

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

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

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

1960-.1961- .1962<_

1960: III...IllIV

1961: III—III.IV.

1962: III—III.IV 4

Government

Receipts

Netre-

ceipts

9.58.96.46.46.77.48.08.9

12.311.211.213.321.028.344.444.643.134.641.642.837.047.266.672.275.768.578.484.287.582.095.7

103.8103.0

8114.8

Taxandnon-tax re-ceiptsor ac-cruals

Trans-fers,inter-est,andsub-

sidies a

11.310.89.58.99.3

10.511.412.915.415.015.417.725.032.649.251.253.251.157.159.256.469.385.590.694.990.0

101.4109.5116.3115.1130.2141.0144.8

5 6158.2

Pur-chases

ofgoodsandserv-ices

1.71.83.12.52.63.13.44.13.13.84.24.44.04.34.86.5

10.116.515.416.519.422.118.918.419.221.523.025.328.733.134.437.141.943.4

Expenditures

Totalex-

pendi-tures

8.59.29.28.18.09.8

10.011.811.712.813.314.124.859.788.696.582.930.528.434.540.239.060.576.082.875.375.679.086.593.597.299.7

107.4117.6

Trans-fers,

inter-est,andsub-

sidies 3

10.211.012.310.610.712.813.315.914.816.617.518.528.864.093.4

103.192.947.043.851.059.561.179.494.4

102.096.798.6

104.3115.3126.6131.6136.8149.3161.0

Sur-plus ordeficit(-)onincome

andprod-uctac-

count

1.71.83.12.52.63.13.44.13.13.84.24.44.04.34.86.5

10.116.515.416.519.422.118.918.419.221.523.025.328.733.134.437.141.943.4

1.0- . 3

- 2 . 8- 1 . 7- 1 . 4- 2 . 4- 2 . 0- 3 . 0

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

- 3 . 8-31.4-44.2-51.9-39.7

4.113.38.2

- 3 . 18.26.1

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

2.95.21.0

-11.4- 1 . 5

4.2- 4 . 4- 2 . 8

Totalincomeor re-ceipts

Statis-ticaldis-

crep-ancy

104.292.175.457.755.064.272.781.691.084.889.9

125.4160.0194.2208.6209.1208.6230.7260.3257.5285.3327.7345.6364.1362.3396.5421.6443.4446.0485.7506.8521.8

6 557.1

Grossna-

tionalprod-uct

or ex-pendi-

ture

0.3- 1 . 0

.7

- . 21.1

- . 2.5

1.2

- 1 . 72.84.52.13.5

- . 71.21.41.3.9

1.0-2 .4- . 6

-1 .5- 3 . 0- 3 . 4- 3 . 1

e-3.5

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1397.5419.2442.8444.5482.7503.4518.7553.6


105.9105.7102.6100.897.9

101.7103.4109.2111.9114.9115.9

(7)

141.9142.4139.9139.7138.1143.9145.7151.6154.6157.8159.2(7)

36.036.737.438.940.242.142.442.442.742.943.344.6

97.299.0

100.8101.4104.8106.0106.9112.1115.2116.0118.2121.0

133.2135.6138.2140.3145.0148.1149.3154.4157.9158.9161.6165.6

36.036.737.438.940.242.142.442.442.742.943.344.6

8.76.71.8

- . 7- 6 . 9- 4 . 3- 3 . 6- 2 . 9- 3 . 3- 1 . 1- 2 . 4

(7)

504.0509.2507.8506.4503.9517.5525.3540.5546.4556.0559.8

(7)

- 2 . 3- 4 . 5- 4 . 2- 3 . 0- 3 . 1- 4 . 4- 3 . 1- 1 . 9- 1 . 4- 4 . 0- 4 . 3

(7)

501.7504.8503.7503.3500.8513.1522.3538.6545.0552.0555.3562.0

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 Government were negligible; therefore, for that period, net exportsof goods and services and net foreign investment have been equated.3 Government transfer payments to persons, foreign net transfers by Government, net interest paid bygovernment, and subsidies less current surplus of government enterprises.4 Preliminary estimates by Council of Economic Advisers.

«See Table C-62.8 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.

7 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

IS I


TABLE C-8.—Gross private and government product, in current and 1962 prices, 1929-62


Year or quarter

Current prices

Total

na-tionalprod-uct

Gross private product1

Total Farm 2 Non-farm

Grossgov-ern-mentprod-uct3

1962 prices 4

Totalgrossna-

tionalprod-uct

Gross private product'

Total Farm 2 Non-farm

Grossgov-ern-

mentprod-ucts

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

196019611962 »

1960: I . - .I I . _I I I .IV..

1961: I . . .I I . .III_IV-.

1962: I . . .I I . -III-IV 5

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1397.5419.2442.8444.5482.7503.4518.7553.6

100.186.671.654.051.359.4

66.675.583.977.683.592.8

116.4144.0167.0179.2

178.4189.9217.6242.0238.7263.8301.7316.0333.6330.8363.5382.8403.8402.6438.6456.2467.9498.5

7.76.24.44.64.36.96.38.16.76.5

6.89.4

13.415.315.716.219.320.723.819.3

20.523.622.820.920.319.619.319.421.320.020.921.421.3

90.378.865.449.646.755.159.669.275.870.977.086.0

107.0130.6151.7163.5162.2170.7196.9218.2219.4243.2278.2293.2312.7310.5

343.9363.5384.5381.2418.6435.3446.6477.2

4.3

4.54.74.44.75.6

5.97.36.97.67.67.89.4

15.125.632.2

35.220.716.717.419.420.827.331.031.832.3

34.036.438.942.044.147.350.855.1

212.0192.5178.2151.9148.2162.3

177.8202.7213.2203.9220.7239.3278.6318.5358.7384.8

377.5328.4327.9340.7341.7370.0400.4415.8434.8426.3459.6469.4478.5471.1502.6515.8525.5553.6

196.7176.5161.9135.9131.1142.5

156.7178.0190.0178.7195.2213.1246.0271.1284.4298.8

293.2284.2294.2306.9306.3333.4354.9366.7386.2378.5

411.9421.1429.3421.6452.6464.5472.7498.5

15.814.416.915.815.613.0

15.813.516.917.017.016.718.019.617.918.4

17.317.616.218.417.518.517.318.018.619.520.520.019.720.019.920.921.121.3

180.9162.1145.1120.1115.5129.6

140.9164.5173.1161.7178.2

196.4228.0251.5266.4280.4

275.8266.7278.1288.5288.8314.9337.6348.7367.6359.0391.4401.0409.6401.7432.8443.6451.6477.2


15.316.016.315.917.119.7

21.124.723.325.225.526.232.647.574.486.0

84.344.233.733.735.4

36.645.549.148.647.847.748.449.249.550.051.352.855.1

501.7504.8503.7503.3500.8513.1522.3538.6545.0552.0555.3526.0

455.8458.0455.8454.8451.4463.0471.2486.0491.0497.1499.9505.8

$(8)(8)

(a)(8)

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

(6)

1(fl)(fl)(8)

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

(8)

45.946.847.948.649.350.151.152.654.054.855.456.3

516.6518.3515.3512.6509.0520.5528.5543.7548.4552.6554.2559.1

466.0466.8463.9461.0457.0468.2475.6489.8493.6497.5499.1503.6

(8)(8)(8)

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

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

(8)

(•)(6)(fl)

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

( 8 )(fl)(8)(8)

(6)

50.651.551.551.752.052.352.953.9

54.855.155.155.5

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

2 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.

4 See footnote 1, Table C-2.8 Preliminary estimates by Council of Economic Advisers.8 Not available.


Sources: Department of Commerce and Council of Economic Advisers.

182


TABLE C-9.—Personal consumption expenditures, 1929-62


Year or quarter

1929..

1930..1931..1932..1933..1934..

1935..1936..1937..1938..1939...

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

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

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

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

I960—1961...1962*.

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

1961: I_...I I . . .I I I . .IV. .

1962: I . . . .I I . . .III . .IV f

Totalper-

sonalcon-

sump-tionex-

pend-itures

79.0

71.061.349.346.451.9

56.362.667.64.667.6

71.981.989.7

100.109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.238.0

256.9269.9285.2293.2313.5

328.5338.1356.7

Durable goods

To-tal

9.2

7.25.3.63.54.2

5.16.36.95.76.7

7.89.77.06.6

8.115.920.622.724.6

30. 4 13.0 14.029. 5 11. 6 14.29.132. 9 14.0 14. 732.4

39. 6 18. 3 16. 638. 5 15. 8 17. 440.4 17.137.3 13.917.443. 6 18.1 18.9

44. 8 18. 8 19.143. 7 17.2 19.347. 6 20. 0 19. 9

1.03.96. 3 11.07.49. 8 11. 5

8.7

11.14.13. 4 14.8

Nondurable goods

37. 7 19. 5

34.0 18.028.9 14. 722. 8 11. 422.3 10. 926. 7 12. 2

29. 3 13.632. 8 15. 235.34.35.1

2 16.0 15.

i.4i.6

15.7

37.243.251.59. 3 27. 8 13.

16.719.4

1.73 23.

.7

.81.0.9

1.0

1.11.41.61.92.2

2.53.33.43.43.3

3.43. 7 110.13. 9 115.1 55.4.1

53.4i.8

118. 0 56.4. 3 119. 3 57. 7

4. 8 124. 8 59. 25. 3 131. 45. 8 137.

6. 6 147.1

7. 0 151. 8 69.7.3 155.2 70.7. 6 162. 0 74.1

11.0i.4

65. 4 30. 6 14. 6

73. 2 34.184.93.98. 7 48. 2

16.57 18.2818.8

20.196. 6 46. 4 19. 3

8 40.4 45.

8 47. 4 19. 621.121.921.921.9

7.1

7.4

6 21.

7 65.26.0 141. 6 67. 4 25. 7 10. 5 38.0 114.3 37.

68.1 27. 5

30.1

2.1

1.4

5.4

8.8|23.424.525. 4 10. 4

7 28.1 11. 7 42. 4 1319 28. 6 11. 9 43.

12. 4 45.

2. 2 10.1

2. 3 10. 82. 6 12. 3

14.51. 3 16. 7

18.7

1. 8 20. 83.0 22.

25.24. 4 26.05.0 25.

27.46.0 29. 5

30.731.831.7

33.49. 6 35. 2

6.7

Services

32.1

29.26.922.920.721.0

21.923.525.125.025.8

26.9

8 11

9 21.0. 2 23.

92.100.107.1 35.2

37.711.1 40. 5 122. 8 39. 6 18.1

8 139.

11.4

.010.39.07.97.6

7.67.98.48.89.0

9.329.0 10.031.34.37. 7 11. 9

5 10.7 11.

40. 4 12. 446. 4 13. 851.56.

4 15.9 17.

60. 0 19. 3

64.70.75. 6 25. 481. 8 27. 586. 3 29.1

5 30.l. 0 32.

22 10.1

10.811.712.1

7 13.514.815.816.9

9 41.8 19. 6 10. 7 59. 71 43.9 20. 6 11.1 63. 5

4 147. 2 46. 0 21.8 11. 6 67. 8

2. 6 14.0

1.9 10. 32.0 11.11. 9 10. 72.0 11.0

2.1

5.1

6.1

12.711.29.38.58.8

9.4

11.42. 4 12. 32. 7 13.13. 4 14. 73. 7 16. 3

4.0 17. 520.8

5. 5 23.06.0 25. 4

26.2

6. 3 28.16. 9 29. 97. 4 32. 08.0 34. 67.9 37.1

8. 6 43. 89. 0 47. 09.2 50. 6

10.0 55.1


323.9329.9329.8330.5

330.5335.5340.1346.1

350.2354.9358.2363.5

45.145.8 19. 544.5

19. 0 19.319.2

18. 3 19.144. 0 18. 3 18. 7

40. 8 15.443.44.46.

5 16.0 16.6 19.

19.1 19.746.347.2 20.3 19.347.149. 7 21. 5 20. 5

18.49 19.29 19.74 19.8

6.8 150. 0 68.9 28.17. 2 152.6 69. 9 28.3 11.6 42. 7 131.5 41. 77.1 152. 5 69. 5 28. 47. 0 152.3 70. 4 27.

5 159.6 161,

5 41. 5 128. 9 40.9 19. 2 10.6 58.26 10.6 59. 7

10. 6 60.28 11.9 42.3 134. 2 42. 6 20. 0 10. 7 61. 0

9 73.4 29.8 12.1 44.63 73. 6 29.8 12. 3 45. 5

7.7.7. 6 163. 0 74. 6 30.3 12. 5 45. 57.7

11.9 43. 5 136. 2 43.1 20. 2

163. 7 74. 6 30.5 12. 7 45.9 150.1

7.1 153. 5 70.1 28.17.4 153. 9 70. 4 28. 0 11. 7 43.9 138. 0 43. 6 20.6 10.9 62.97.4 156.2 71.6 29.0 11.9 43.8 139.9 44.1 20. 7 11.1 64. 07.4 157. 2 71. 7 29. 2 12.1 44. 2 142.3 44.8 21. 0 11. 4 65.1

148.1

144.1 45.2 21.3 11.5 66. 0146.3 45. 7 21.8 11. 5 67.3

46. 2 21.9 11.6 68. 446. 8 22. 2 11. 8 69. 3

10.9 62. 0

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.



183


T A B L E C-10.—Gross private domestic investment, 7929—62


Year orquarter

Totalgross

privatedomes-tic in-vest-ment

1929

19301931193219331934

19351936 _193719381939

19401941_194219431944

19451946194719481949

19501951195219531954

19551956195719581959

196019611962 4

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

1961: II I . . . .I I I . . .IV... .

1962: I 75.9II 77.4I I I . . . 76.3IV*.. I 75.0

16.2

10.35.5

1.42.9

8.411.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.7

72.469.376.2

Fixed investment

Total

79.173.570.366.5

60.167.672.476.6

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

58.162.764.658.666.2

68.367.173.1

New construction J

Total

8.7

6.24.01.91.41.7

2.33.34.44.04.8

5.56.63.72.32.7

3.811.015.319.518.8

24.224.825.527.629.7

34.935.536.135.540.2

40.741.644.3


3.6

2.11.6.6.5

1.01.61.92.02.7

3.03.51.7.9.8

1.14.87.5

10.19.6

14.112. 512.813.815.4

18.717.717.018.022.3

21.121.023.1

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

19.720.521.2

Non-farm

4.83.92.31.2.9

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

18.018.619.4

Farm

0.3

1.41.51.5

1.61.81.91.71.6

1.61.61.61.51.7

1.61.91.7

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

27.625.528.8

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

20.625.026.220.323.1

25.123.025.9

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

2.52.52.9

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

10.23.1

.4- 1 . 6

5.84.71.6

- 2 . 0

4.12.13.1

Non-farm

1.8

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

.2

.42.11.7

- 1 . 0.3

1.94.0

.7

6.41.33.0

- 2 . 2

6.09.12.11.1

- 2 . 1

5.55.1

.8- 2 . 9

6.5

3.71.93.0

Farm


68.369.168.267.5

63.765.668.470.6

69.273.475.374.5

40.940.740.540.7

39.341.042.643.2

41.644.546.144.9

21.521.221.020.5

19.020.121.922.8

21.223.324.323.7

19.319.519.520.2

20.320.820.720.4

20.521.221.821.3

17.717.917.818.6

18.918.518.518.6

18.919.419.919.5

1.71.71.61.6

1.52.32.31.8

1.61.81.91.8

27.428.427.726.8

24.424.625.827.4

27.628.929.229.6

24.926.025.424.3

21.622.123.524.9

24.926.026.126.6

2.52.42.32.6

2.82.52.32.5

2.72.93.13.0

10.84.42.1

- 1 . 1

- 3 . 62.14.06.0

6.74.01.0

.5

10.64.11.7

- 1 . 5

- 3 . 91.83.85.9

6.63.91.0

.5

-0.2

- . 3.3

(3)- . 3

- 1 . 3

.5- 1 . 1

.5

.1

.1

.51.2

o-A

- . 5(3)

- 1 . 81.7

1.2

.1

.3

.2

.1

0.2.3.4.4

.3

.3

.2

.1

.1

.1

.0

.1

1 Revisions in series on new construction shown in Table C-36 have not yet been incorporated into theseseries.2 Includes petroleum and natural gas well drilling, which are excluded from estimates in Table C-36.3 Less than $50 million.4 Preliminary estimates by Council of Economic Advisers.

NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

184


TABLE C—11.—National income by type of income, 1929—62


Year or quarter

Totalna-

tionalin-

come1

Com-pen-

sationof em-ploy-ees 2

Business and pro-fessional incomeand inventory

valuationadjustment

Total

In-come

ofunin-

corpo-ratedenter-prises

In-ven-toryvalu-ationad-

just-ment

In-come

offarmpro-prie-tors3

Rent-al in-come

ofper-sons

Corporate profitsand inventory

valuationadjustment

Total

10.16.61.6

-2 .0-2 .0

1.1

2.95.06.24.35.7

9.114.519.723.823.018.417.323.630.828.235.741.037.737.333.743.142.041.737.247.245.645.5

'8 51.0

Cor-porateprofitsbeforetaxes*

9.6

3.3- . 8

-3 .0. 2

1.7

3.15.76.23.36.4

9.317.020.924.623.319.022.629.533.026.440.642.236.738.334.144.944.743.237.447.745.445.6

78 50.9

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..

I960..1961..19626.

87.875.759.742.540.249.057.164.973.667.672.8

81.6104.7137.7170.3182.6181.2180.9198.2223.5217.7241.9279.3292.2305.6301.8

330.2350.8366.9367.4400.5

415.5427.8

8 457.5

51.146.839.731.129.534.3

37.342.947.945.048.152.164.885.3

109.6121.3

123.2117.7128.8141.0140.8

154.2180.3195.0208.8207.6223.9242.5255.5257.1278.5293.7302.2321.6

8.87.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.922.422.7

23.526.026.927.427.830.432.132.732.535.1

34.234.836.8

8.66.5.03.13.74.65.46.67.16.67.5

8.511.514.317.018.1

19.123.021.422.822.2

24.626.326.727.627.8

30.632.633.032.635.2

34.234.736.8

0.1.8.6.3

c

- . 1

_()

.2- . 2

-.4-.2-.1

-.1-1.7-1.5-.4.5

-1.1-.3.2

-.2

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

6.04.13.1.92.42.4

5.04.05.64.34.34.66.5

10.011.411.511.815.315.517.812,9

14.016.315.313.312.711.811.611.813.511.412.013.113.0

5.44.83.82.72.01.7

1.71.82.12.62.72.93.54.55.15.4

5.66.26.57.38.3

9.09.4

10.210.510.910.710.911.912.211.9

11.912.312.8

0.53.32.41.0

- 2 . 1- . 6- . 2- . 7(8)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

()8 . 2

6.46.05.86.45.04.94.84.74.74.64.64.54.54.33.73.33.23.13.84.24.8

5.56.37.18.29.1

10.411.713.414.816.4

18.020.022.2


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

1961: III . . . .III. . .IV...

1962: III . . . .Ill—IV 8.

413.9417.2416.6414.4411.8424.3431.3444.0448.9456.7459.8

(

290.6294.6295.8293.9294.1300.2304.5309.9315.2321. 7323.8325.8

34.534.534.133.833.734.535.136.036.236.837.037.3

34.834.533.833.933.734.335.236.036.336.837.137.1

- 0 . 3.0.3

- . 1

- . 1

- . 1

10.712.412.212.712.812.713.113.612.912.812.813.6

11.911.911.912.012.012.212.312.512.612.812.912.9

48.646.244.443.340.145.046.051.150.450.751.0(9)

49.246.443.342.839.844.846.351.450.150.951.1C9)

-0 .6- . 21.2.5.3.2

- . 3- . 3

.3- . 2- . 1

17.617.718.218.8

19.119.820.321.021.522.022.523.0

1 National income is the total net income earned in production. It differs from gross national productmainly in that it excludes depreciation charges and other allowances for business and institutional con-sumption of durable capital goods, and indirect business taxes. See Table C-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 0-72 because of revisions by the Department of Agriculture not yet incorporated into the nationalincome accounts.

* See Table 0-64 for corporate tax liability (Federal and State income and excess profits taxes) andcorporate profits after taxes.

« Less than $50 million.8 Preliminary estimates by Council of Economic Advisers.i See Table C-62.s 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.o Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

185


TABLE C-12.—Relation of gross national product and national income, 7929—62


Year or quarter

Grossna-

tionalprod-

uct

Less: Capital con-sumption allowances

TotalDepre-ciationcharges

Other

EqualsNetna-

tionalprod-uct

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-

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

32.935.738.239.342.6

46.548.251.6

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

14.113.915.0

Stateandlocal

5.8

6.16.05.85.45.6

6.06.46.86.97.0

7.47.77.77.88.0

8.49.4

10.812.313.5

14.716.117.619.020.1

21.824.126.027.429.6

32.534.236.6

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

1.51.61.81.82.1

2.12.12.1

Sta-tisti-caldis-

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

.9

1.0-2 .4- . 6

-1 .5- 3 . 0

- 3 . 4-3 .1

«-3.5

Equals:Na-

tionalincome

1929..

1931..1932..1933..1934..

104.4

91.176.

193519361937

1939..

19401941194219431944

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

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

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

I 9 6 0 . .1961 . .1962«_

56.065.0

72.582.790.885.91.1

100.6125.8159.1192.5211.4

213.6210.234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.7

503.4518.7553.6

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

32.034.437.438.641.0

43.245.347.6

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

27.930.533.435.237.3

39.441.5

<43.5

0.9

.6

.7

1.01.01.01.2

1.31.72.02.42.2

2.63.23.13.53.6

4.03.94.03.43.7

3.83.84.0

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

365.5384.8405.3405.9441.7

460.2473.4

* 506.0

-0 .1

- . 1

1.01.1.4

. 51.71.8


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

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

1962: I . . . .II . . .III..IV 3.

501.7504.8503.7503.3

500.8513.1522.3

545.0552.0555.3562.0

42.743.443.343.6

44.145.045.746.6

47.047.547.548.3

(«)(6)(6)(6)

C)

«)0)6)

(6)(8)(«)(fl)

8(9)(«)(6)(«)(«)(•)(6)8

459.0461.4460.3459.7

456.6468.1476.6492.0

498.0504.5507.8513.8

0.5.4.5.6

.72.02.12.0

1.81.81.81.8

45.947.046.446.9

46.648.048.349.7

50.251.461.853.0

14.414.513.613.713.114.113.914.7

14.616.215.015.3

31.632.432.833.2

33.533.934.435.1

35.636.236.937.6

2.12.12.12.1

2.12.12.12.1

2.12.12.12.1

- 2 . 3- 4 . 5- 4 . 2-3 .0

-3 .1- 4 . 4-3 .1- 1 . 9

- 1 . 4- 4 . 0-4 .3(«)

1 Accidental damage to fixed capital and capital outlays charged to current account.2 Less than $50 million.» Preliminary estimates by Council of Economic Advisers.«See Table C-62.* Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.•Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

186


T A B L E C-13.—Relation of national income and personal income, 1929—62


Year or quarter Nationalincome

Less:

Corpo-rate

profitsand in-

ven-toryvalu-ation

adjust-ment

Contri-butions

forsocialinsur-ance

Excessof

wageac-

crualsoverdis-

burse-ments

Gov-ern-

menttrans-

ferpay-

mentsto

persons

Plus:

Netinter-

estpaidby

gov-ern-

ment

Divi-dends

Busi-ness

trans-fer

pay-ments

Equals:

Per-sonalin-

come

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..19621

1960: I —II .IIIIV

1961: I . .I I .IIIIV

1962: I . .I I .IIIIV

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

330.2350.8

367.4400.5

415.5427.8

»457. 5

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

43.142.041.737.247.2

45.645.5

2 51.0

0.2

.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

20.621.623.9

0.2- . 2

- . 1

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

27.331.332.4

1.0

1.01.11.11.21.2

1.11.11.21.21.2

1.31.31.52.12.8

3.74.54.44.54.7

4.85.05.05.25.4

5.45.76.26.27.1

7.87.37.4

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

11.212.112.612.413.7

14.415.015.9


0.6

.5

1.01.21.41.3

1.51.61.81.82.1

2.12.12.1

413.9417.2416.6414.4

411.8424.3431.3444.0

448.9456.7459.8

48.646.244.443.3

40.145.046.051.1

50.450.751.0

20.320.620.820.7

21.121.521.822.1

23.623.924.024.2

26.326.827.528.8

30.431.231.631.6

31.932.032.333.5

7.77.87.87.8

7.67.47.27.2

7.37.47.57.6

14.314.214.414.5

14.714.814.915.5

15.815.815.816.4

2.12.12.12.1

2.12.12.12.1

2.12.12.12.1

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

310.2332.9351.4360.3383.9

400.8416.4

3 440. 5

395.4401.4403.1403.7

405.4413.5419.4427.3

432.0439.5442.6448.0

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 See Table C-62.< Not available.



187


T A B L E G—14.—Sources of personal income, 1929-62


Year or quarterTotalper-sonal

income

Wage and salary disbursements 1

Total

Commodity-producingindustries

TotalManu-factur-

ing

Distrib-utiveindus-tries

Serviceindus-tries

Gov-ern-

ment

Otherlabor

income1

Proprietors'income2

Busi-nessand

profes-sional

Farm3

1929.

19301931193219331934

19351936193719381939

194019411942.19431944

19451946194719481949

19501951195219531954

19551956195719581959

196019611962

1960: I..II.IllIV.

1961: I-.II.IllIV.

1962: I..II.IllIV

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

228.5256.7273.1288.3

310.2332.9351.4360.3383. 9

400.8416.4

7 440. 5

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

271.3278.8295.8

21.5

18.514.3

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

110.4110. 8117.2

16.1

13.810.87.77.8

10.812.414.611.813.6

15.621.730.940.942.9

38.236.542.546.5

49.458.363.069.966.1

72.377.780.676.784.7

87.487.593.6

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

71.872.976.2

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

40.743.446.3

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

48.451.856.2

0.6

.7

.7

.91.11.5

1.81.92.32.73.0

3.84.85.36.06.2

7.18.19.19.4

10.4

11.011.412.3

8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.922.422.7

23.526.026.927.427.8

30.432.132.732.535.1

34.234.836.8


395.4401.4403.1403.7

405.4413.5419.4427.3

432.0439.5442.6448.0

268.5272.2273.3271.3

271.2276.9281.0286.1

289.9295.9297.8299.7

111.2111.6110.6108.4

106.8110.3111.7114.3

115.0118.1118.0117.8

88.588.487.485.4

84.087.188.290.7

91.994.494.194.0

70.872.472.471.8

71.772.473.473.9

74.976.176.577.1

39.640.541.341.5

42.343.143.844.3

45.145.946.947.3

46.947.849.049.7

50.451.252.253.6

54.955.856.457.5

10.811.011.011.2

11.211.311.411.6

12.012.312.412.5

34.534.534.133.8

33.734.535.136.0

36.236.837.037.3


188


TABLE C-14.—Sources of personal income, 1929-62—Continued


Year orquarter

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949 -

19501951195219531954

19551956195719581959

196019611962 8

1960: II I — .III . . .IV.. .

1961: II I . . . .I I I . . .IV.. .

1962: III—_III . . .IV 6._

Rentalincomeof per-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

10.210.510.9

10.710.911.912.211.9

11.912.312.8

U1V1-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

11.212.112.612.413.7

14.415.015.9

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

15.817.519.621.023.5

25.827.429.7

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

17.518.821.926.327.5

29.433.434.6

Transfer payments

Old-ageand sur-vivorsinsur-ance

benefits

(«)(«)(5)

i})0.1

.1

.2

.2

. 3

.4

.5

.6

.7

1.01.92.23.03.6

4.95.77.38.5

10.2

11.112.614.3

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

2.84.03.0

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

4.54.84.8

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

10.3

10.912.012.5

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

9.29.7

10.5

Non-agricul-

turalpersonalincome4


11.911.911.912.0

12.012.212.312.5

12.612.812.912.9

14.314.214.414.5

14.714.814.915.5

15.815.815.816.4

25.225.526.026.5

26.627.227.528.1

28.829.430.030.6

28.528.929.630.9

32.533.433.733.8

34.134.234.435.7

10.711.211.311.4

11.812.512.813.4

13.714.414.514.8

2.42.42.93.8

3.84.43.93.7

3.32.72.73.2

4.64.54.54.6

4.74.94.74.8

4.84.84.74.9

10.810.810.911.1

12.211.512.311.9

12.312.312.512.7

9.19.29.39.3

9.59.69.79.9

10.310.510.510.6

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

295.0317.9336.1343.0

384.7399.1423.2

380.8384.9386.8386.8

388.4396.6402.0409.4

414.8422.3425.5

1 The total of wage and salary disbursements and other labor income differs from compensation of em-ployees in Table C-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 C-72 because of revisions by the Department of Agriculturenot 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.

* Less than $50 million.6 Preliminary estimates by Council of Economic Advisers.7 See Table O62.




TABLE C-15.—Disposition of personal income, 1929-62

Year or quarter

1929

19301931.193219331934

19361936 - - -1937.19381939

19401941194219431944

19451946194719481949

19501951 .195219531954

19551956 -195719581959

196019611962 2 _

I960: IIIIIIIV —

1961: IIIIl lIV

1962: IIIHIIV 2

Personalincome

Less:Personaltaxes *

Equals:Dispos-

ablepersonalincome

Less:Personal

con-sumptionexpendi-

tures

Equals:Personalsaving

Billions of dollars

85.8

76.965.760.147.253.6

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

310.2332.9351.4360.3383.9

400.8416.4

3 440. 5

395.4401.4403.1403.7

405.4413.5419.4427.3

432.0439.5442.6448.0

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

35.740.042.642.346.8

51.452.8

3 57.8

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

274.4292.9308.8317.9337.1

349.4363.6

3 382.7

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

256.9269.9285.2293.2313.5

328.5338.1356.7


51.451.951.460.9

61.052.553.064.6

56.457.758.558.8

344.0349.6351.7352.7

354.3361.0366.3372.6

375.6381.8384.1389.3

323.9329.9329.8330.5

330.5335.5340.1346.1

350.2354.9358.2363.5

4.2

3.42.5

- . 6- . 6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.6

20.925.626.0

20.119.722.022.2

23.825.526.326.5

25.426.926.025.8

Percent of dispos-able personal income

Personalconsump-

tion ex-pendi-tures

Personalsaving

Percent

95.1

95.496 1

101.2101.599.8

96.694.694.898.396.0

94.588.176.375.374.8

80.991.697.294.295.5

93.992.292.192.192.6

93.692.192.492.293.0

94.093.093.2

94.294.493.893.7

93.392.992.892.9

93.293.093.393.4

5.1

4.63 9

—1 2—1.3

.2

3.45.45 21.74.1

5.511 923.724.725.1

19.18.42 85.84.5

6.17.87.97.87.4

6.47.97.67.87.0

6.07.06.8

5.85.66.36.3

6.77.17.27.1

6.87.06.86.6

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

3 See Table C-62.



I9O


TABLE C-16.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1962 prices, 1929-62

Year or quarter

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938.1939.

1940.1941.1942.1943.1944.

1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962

1960: I..II.IIIIV

1961: I..II.IIIIV

1962: I..II.IIIIV

Total disposablepersonal income

(billions ofdollars)

Currentprices

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9308.8317.9337.1

349.4363.6

• 382. 7

1962prices 1

151.1

141.5136.3117.6114.7122.5

134.5151.1156.1147.8160.1

171.1195.7221.1230.3240.0

237.3234.7224.8236.5239.2

258.0265.1272.5285.2287.4

305.7320.9328.7332.1348.0

355.5367.2

6 382.7

Per capita dis-posable personalincome (dollars)

Currentprices

604514390364411

458516551506537

576697871976

1,061

1,0751,1361,1801,2911,272

1,3691,4751,5211,5821,582

1,6601,7411,8031,8251,904

1,9341,979

6 2,051

1962prices !

1,240

1,1491,098941913

1,0561,1791,2111,1371,222

1,2951,4671,6401,6841,734

1, 6961,6601,5601,6131,603

1,7011,7181,7361,7881,770

1,8491,9081,9191,9071,965

1,9681,998

6 2,051

Total personalconsumptionexpenditures

(billions ofdollars)

Currentprices

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

256.9269.9285.2293.2313.5

328.5338.1356.7

1962prices '

143.6

135.0130.9119.1116.3122.3

129.8142.9147.9145. 4153.5

161.7172.3168.9173.4179.6

192.1215.0218.6222.8228.5

242.2244.5250.9262.8266.3

286.1295.7303. 6306.3323.6

334.3341.3356.7

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

Currentprices


576494395369410

442488522497516

544614665735

8701,040:, 148,216,215

,286,360,4001,4581,466

1,5541,6041,6651,6841,770

1,8181,8401,912

1962prices'

344.0349.6351.7352.7

354.3361.0366.3372.6

375.6381.8384.1389.3

351.7355.9357.6357.5

358.7365.0369.7375.0

377.5382.3383.7387.3

1,9141,9391,9421,939

1,9401,9691,9892,015

2,0242,0502,0542,073

1,9571,9731,9741,965

1,9641,9912,0082,027

2,0342,0532,0522,063

323.9329.9329.8330.5

330.5335.5340.1346.1

350.2354.9358.2363.5

331.2335.8335.2335.0

334.6339.3343.2348.3

352.0355.3357.8361.6

1,8031,8291,8211,817

1,8091,8301, 8471,871

1,8871,9051,9161,936

1,178

1,0961,054954926967

1,0191,1151,1471,1191,172

,224,292,252,268

,373,521,517,520

1,531

1,5971,5841,5981,6471,640

1,7311,7581,7721,7591,827

1,8501,8581,912

1,8431,8621,8511,841

1,8321,8501,8641,883

1,8971,9081,9131,926

Popu-lation(thou-

sands) •

121,875

123,188124,149124.949125,690126,485

127,362128,181128,961129,969131,028

132,122133,402134,860136,739138,397

139,928141,389144,126146, 631149,188

151, 689154, 283156,947159, 559162, 388

165, 276168, 225171, 278174,154177,080

180,676183,742186, 591

179, 692180,334181,102181,939

182, 666183,375184,150184,952

185, 607186, 258186, 980187, 741

1 Estimates in current prices divided by the implicit price deflator for personal consumption expendi-tures on a 1962 base.

2 See Table C-2 for explanation.3 Total expenditures in 1962 prices divided by population.4 Population of the United States including armed forces abroad. Annual data are for July 1; quarterly

data are for middle of period.8 Preliminary estimates by Council of Economic Advisers.• See Table C-62.


Sources: Department of Commerce and Council of Economic Advisers.

191


TABLE C-17.—Financial saving by individuals, 7939-62 J


Year or quarter

1939

1940194119421943194419451946 _-1947194819491950195119521953195419551956 _195719581959I96019611962 1"I960- I

IIIIIIV

1961- IIIIIII V

1962: I .IIIIIIV i°

Total

4.24 2

10.529.338.741.437.314.16.52.82.2

.811 113.110.99.57 1

14.115.516.913.39.3

16.221.22.81.63.81.14.73.25.92.46.64.57.62.4

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

10.24.43.89.7

19.6—1.9

3.02.71.32.13.33.04.23.36.06.0

Sav-ings

shares

0.13

.4

. 3

.6

.91.11.21.31.31.61.72 33.34.04.85.25.45.26.37.28.39.3

10.31.62.51.42.82.02.71.53.22.12.81.73.7

Securities

Total

- 0 . 8- . 42.6

10.314.115.79.9

- 1 . 42.43.12.4

.9

3.53.4

.46.45.24.61.39.9

1.1- . 91.9

- . 6

- 1 . 8- . 9—. 71.51.2

- . 1- . 6

c

U.S.sav-ings

bonds

0.7.9

2.88.0

11.111.86.81.02.01.61.5

. 2- . 5

. 1

.2

.6

. 3- . 1

- 1 . 9c

- 1 . 8- . 2

. 8

.7- . 2- . 1

.1

.3

. 1

.2

.2

.2

.1

.2

Othergov-ern-

ment3

-0 .9- . 8

.42.33.24.64.2

-2 .4- . 3

.4

.2- . 1- . 41.32.0

— 93.93.33.7

- . 810.8- . 9

- 1 . 3-1 .7

2.0- . 6

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

1.31.1

- . 2- . 8

c- 1 . 2

Cor-porateand

other

- 0 . 6— .4- . 5

- . 3- . 7

- 1 . 2

. 71.1

.7

. 71.42.21.2

. 72.22.02.82.6

.91.11.6

. 1

.2

. 5

.4

. 21.5

- . 1- . 1

. 1

(*)

Pri-vate

insur-ancere-

serves

1.71.82.12.52.83.23.53.43.63.73.73.94.14.85.05.25.55.55.15.45.55.45.96.21.21.3

1

.4L.6

. 5

. 3

.4

.8

.5L.4. 7

L. 7

Non-in-

suredpen-sion

funds

0.1. 1.1. 1.2.6.9. 3.3.4.6.9

1.41.51.81.92.12.42.93.13.43.74..04.21.0

.9

.8

.91.1

. 9

.91.01.21.11.01.0

Gov-ern-

mentinsur-anceandpen-sionre-

serves8

1.31 31.92.63.95.05.13.53.53.62.31.14 24.43.22.63.13.63.2

.62.33.41.32.7

. 32.11.0

- . 1- . 21.4

. 7- . 6- . 22.21.0

- . 3

Less

Mort-gagedebt«

0.59

. 8

. 1- . 4- . 1

. 23.64.64.74.17.36 66.57.39.0

11.810.37.99.3

13.210.913.015.32.92.52.72.82.92.93.04.13.63.83.44.4

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

. 26.14.21.24.9

—.42.0

. 91.7

- 1 . 7. 7.2

2.1- 1 . 1

2.21.02.8

Secu-ritiesloans8

- 0 . 2— 2- . 1

. 3

.61.4

1.5- 2 . 3- . 8

.4

. 3

. 2_ 3

.6

.4

.9

.6- . 8

i

. 4

.2

. 31.1

.8- 1 . 3

. 1

. 8

.6-1 .0

. 9

.21.1

- . 5- . 4

.11.6

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 bonds), State and local govern-

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

4 Includes insured pension reserves.* Includes Social Security funds, State and local retirement systems, etc.8 Mortgage debt to institutions on one- to four-family nonfarm dwellings.7 Consumer debt owed to corporations, largely attributable to purchases of automobiles and other dura-

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

8 Change in bank loans to brokers and dealers and others for the purpose of purchasing cr carrying securi-ties.

» Less than $50 million.i° Preliminary.

NOTE.—Figures beginning 1959 have teen revised since the Economic Report of the President, January1962.

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 1962, and Survey of Current Business, July 1962.

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 1955-62 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.

192


TABLE C-18.—Sources and uses of gross saving, 1929-62


Year or quarter

1929

19301931193219331934

1935.1936.1937.1938.1939.

1940.1941.1942.1943.1944.

1945.1946.1947.19481949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959-

196019611962 3 4_.

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

1961: I—.II. _III.IV..

1962: III.. . .III...IV 3..

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

Total

16.7

11.94.9

2.6

6.47.2

12.17.39.0

13.918.810.55.12.3

4.530.636.845.933.0

48.555.348.347.047.6

62.471.370.258.173.4

77.174.8

881.1

Private saving

Total

15.7

12.27.72.01.95.0

8.410.111.58.9

11.2

14.622.541.949.354.2

44.326.523.637.636.1

40.349.252.254.154.4

59.666.169.269.574.9

72.979.2

8 83.9

Per-sonal

saving

4.2

3.42.5

- . 6

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

17.523.023.624.723.6

20.925.626.0

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

42.143.045.644.851.3

52.153.6

5 57. 9

Government surplusor deficit (—)

Total

1.0Q

-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

-11.4-1.5

4.2-4.4

«-2.8

Fed-eral

1.2

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

- 2 . 6- 3 . 5- . 2

- 2 . 0- 2 . 2

- 1 . 4- 5 . 133.2

-46 .7-54 .6

-42 .32.2

12.28.0

- 2 . 5

9.26.4

- 3 . 9- 7 . 4- 5 . 8

3.85.72.0

- 9 . 4- 1 . 1

- 3 . 8

Stateandlocal

- 0 . 1

- . 5- . 7- . 2(2)

.5

.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- . 3

.4- . 6

- 1 . 1

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

63.468.869.656.670.4

73.771.777.6

Grossprivatedomes-tic in-vest-ment

Net for-eign in-vest-

ment 1

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.7

72.469.376.2

0.8

.7

.2

.2

.2

.4

- . 1- . 1

.11.1

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

1.32.41.4

Statis-ticaldis-

crep-ancy


81.478,875.872.8

66.974.576.880.7

79.283.481.3(6)

72.772.074.073.4

73.978.780.483.5

82.584.583.7(6)

20.119.722.022.2

23.825.526.326.5

25.426.926.025.8

52.652.452.051.2

50.053.254.157.0

57.257.657.7(6)

8.76.71.8

- . 7

- 6 . 9- 4 . 3- 3 . 6- 2 . 9

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

(6)

8.15.51.5

- . 4

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

- 2 . 4j

- . 9(6)

0.61.2

.2- . 2

- . 7- . 1- . 3

- 1 . 6

- . 8- . 4

- 1 . 4(6)

79.074.371.669.7

63.870.173.878.8

77.879.477.076.0

79.173.570.366.5

60.167.672.476.6

75.977.476.375.0

- 0 . 1.8

1.33.2

3.72.41.32.2

2.02.0

.71.0

0.3

- 1 . 0

.9

.7

- . 21.1

- . 2.5

1.2

.4- . 8

- 1 . 72.8

4.52.13.5

- . 8.5

- . 71.21.41.3

1.0- 2 . 4- . 6

- 1 . 5- 3 . 0

- 3 . 4- 3 . 1

5 - 3 . 5

- 2 . 3- 4 . 5- 4 . 2- 3 . 0

- 3 . 1- 4 . 4- 3 . 1- 1 . 9

- 1 . 4- 4 . 0- 4 . 3

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.* See Table C-62.6 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.6 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce (except as noted).

669333 O—63 13 193


EMPLOYMENT, WAGES, AND PRODUCTIVITY

TABLE C-19.—Noninstitutional population and the labor force, 7929-62

Year or month

Old definitions: 21929

1930 _1931.1932.1933.1934.

1935.1936.1937.1938.1939.

1940.1941.1942-1943.1944-

194519461947

New definitions:2

1947-1948 _1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959 _

1960Including Alaska and

Hawaii196019611962*1962 -

1961: January..February-MarchAprilMayJune

July -AugustSeptember..OctoberNovember..December..

Nonin-stitu-tionalpopu-lation 1

Totallaborforce

(includ-ing

armedforces) 1

Armedforces l

Civilian labor force

Total

Employment 2

TotalAgri-cul-

tural

Non-agri-cul-

tural

Unem-ploy-

ment2

Thousands of persons 14 years of age and over

(*)

100,380101, 520102,610103,660104,630

105, 530106, 520107, 608

107, 608108,632109, 773

110,929112, 075113, 270115, 094116,219

117, 388118, 734120, 445121, 950123,366

124, 878

125,368127,85f130,117130,081

126,725126,918127,115127,33:127, 558127, 768

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

49, 440

50,08050,68051,25051, 84052, 490

53,14053, 74054, 32054,95055,600

56,18057, 53060, 38064, 56066,040

65,30060,97061, 758

61, 75862, 89863, 721

64, 74965, 98366, 56067, 36267, 818

68, 89670, 38770, 74471, 28471,946

72, 820

73,12674,17574,83974,681

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

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

260

260

250250

270300320340370

5401,6203,9709,02011,410

11, 4303,4501,590

1,5901,4561,616

1,6503,0993,5943,5473,350

3,0482,85"2,7982,63"2,55:

2,514

2,5142,5722,8282,827

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

2,5142,5292,54"2,5862, 7572,813

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, 64"69,394

70, 306

70, 61271, 60372,01171,854

69,83770.36071,01170,69671, 54674, 286

73.63973,08171,12371, 75971,33970, 559

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, 58166, 392

66, 68166, 79667,99967,846

64.45264,65565, 5166/5, 73466,77868, 706

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

10, 450

10, 34010,29010,17010,0909,900

10,11010, 0009,8209,6909,610

9,5409,1009,250

8,950

8,3208,266

8,2567,9608,017

7,4977,0486,7926,5556,495

6,7186,5726,2225,8445,836

5,696

5,7235,4635,2555,190

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

6,4536,3255,6665.9645,1994,418

37,180

35,14032,11028, 77028,67030, 990

32,15034,41036, 48034, 53036,140

37,98041, 25044, 50045, 39045,010

44,24046,93049, 761

49, 55751,15650,406

52, 25153,73654,24355, 39054, 395

56, 22558,13558, 78958,12259, 745

60, 697

60, 95861, 33362, 74462,65759, 81859,94760. 53960,73461,23462,035

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

1,550

4,3408,02012,06012,83011, 340

10,6109,0307,70010,3909,480

8,1205,5602,6601,070670

1,0402,2702,142

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,9364,6813,813

3,913

3,9314,8064,0124,007

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

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

Totallabor

force aspercentof non-institu-tionalpopu-lation

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

58.759.358.758.558.3

58.3

58.358.057.557.4

57.157.457.957.558.160.1

59.559.057.457.57.556.9

3.2

8.715.923.624.921.7

20.116.914.319.017.2

14.69.94.71.91.2

1.93.93.6

3.93.85.9

5.33.33.12.95.6

4.44.24.36.85.5

5.6

5.66.75.65.6

7.78.17.77.06.77.5

7.06.25.75 55.65.8


194


TABLE G-19.—Noninstitutional population and the labor force, 1929-62—Continued

Year or month

Nonin-stitu-tionalpopu-

lation !

Totallaborforce

(includ-ing

armedforces) 1

Armedforces i

Total

Civilian labor force

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

1962: January. . .February..MarchAprilApriPMayJune

JulyAugustSeptember.October....November.December.

129,118129,290129,471129. 641

72, 56473,21873, 58273, 86473,65474, 79776, 857

76,43776, 55474,91474, 92374, 53274,142

2,8432,8862,8852.8852,8852,8752,856

2,8552,8592,7352,7362,7502,764

69, 72170,33270,69770.97970, 76971,92274,001

73, 58273,69572,17972,18771, 78271,378

65,05865, 78966,31667, 02766, 82468,20369,539

69, 56469, 76268,66868,89367,98167,561

4,4174,5784,7825,0484,9615,4286,290

6,0645,7705,5645,4754,8834,066

60, 64161,21161, 53361,97961, 86362,77563,249

63,50063, 99363,10363,41863,09863,495

4,6634,5434,3823,952

56.256.656.857.0

6.76.56.25.65.65.26.0

5.55.34.94.65.35.3

129, 587129, 752129,930

130,183130,359130,546130, 730130, 910131,096

3,9463,7194,463

4,018

3,5123,2943,8013,817

56.857.6

58.758.757.457.3;56.956.6

Seasonally adjusted6

1961: January. .February.March .._AprilMayJune

JulyAugustSeptember..OctoberNovember..December..

1962: JanuaryFebruary...MarchApril

71,55471,86972,09271,41071,47571,983

71,63371,78970,98171,47371,48271, 272

71,43571,84171,77471,696

66,65166,72367,12766,39866,51266,900

66,24366,82267,14866,936

67,27867,89467,94767, 704

5,7215,7635,7875,2975,3266,504

5.4735,6625,1565,4725,3115,204

5,4535,6035,5605,347

60,85260,92261, 27461,10161, 23461,543

61,37161,41761,18861,36961,84061,618

61,69062,20662,28062,353

4,7614,9684,8744,9505,0194,936

4,9234,8874,8674,7624,3704,274

4,1594,0083,9143,971

6.76.96.86.97.06.9

6.96.86.86.76.16.0

5.85.65.55.5

April«May..June_.

JulyAugustSeptember..OctoberNovember..December _.

71,48471,85071,706

71,57872,39272,03571,89971,92672,099

67,49967,93167,711

67,73568,19467,85467,87567, 77868,037

5,2555,2145,1905,1435,1665,0635,0234,9884,789

62, 23662,77562,747

62,80963,17262.91462.91562, 78463,054

3,9633,9033,917

3,8284,2184,1673,9774,1644,002

5.55.45.5

5.35.85.85.55.85.6

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.

»See Note.« Not available.< Averages have been adjusted by the Council of Economic Advisers for comparison with previous

data. See Note.» Beginning April 1962, not comparable with prior data. See Nate.fl 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 January 1960 are based on a 333-area sample. For May1956-December 1959 they are based on a 330-area sample; for January 1954-April 1956 on a 230-area sample;for 1946-53 on a 68-area sample; for 1940-45 on a smaller sample; and for 1929-39 on sources other than directenumeration.

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.

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

Source: Department of Labor (except as noted).

195


TABLE C-20.—Employment and unemployment, by sex and age, 7947-62

[Thousands of persons 14 years of age and over]

Year or month

Total

Employed

Total 14-19years

Males

20yearsand

Total 14-19years

Females

20yearsand

Unemployed

Total 14-19years

Males

20yearsand

Total 14-19years

Females

20yearsand

Old definit ions: i1947. ._1948..1949

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

1955..1956..

New definitions: i1957..1958..1959..

1960 2..1961—1962 3.

1961:January. _February.MarchAprilMayJune


1962:January..February.MarchApril 3....MayJuneJulyAugustSeptember..OctoberNovember..December..

58,027 41,677 2,795 38,883 16,349 1,92159,378 42,428 2,911 39, 518 16,950 1, " '

14,429. . . . . . , , ,93015,020

58,710 41,660 2,687 38,974 17,048 1,826 15,225

59,957 42,287 2,787 39,499 17,670 161,005 42,490 2, 753 39, 738 18,515 161,293 42,391 2,674 39, 717 18, 902 162 213 43125 2 686 40 440 19088 1

,777 15,893,863 16,652

, , , , , ,857 17,04762, 213 43,125 2, 686 40, 440 19,088 1,829 17, 25961 2 4 2 3 7 3 9 2 188611736 17125, , , , , , ,61. 238 42,377 2, 550 39,827 18,8611,736 17,12563,193 43,290 2,64240,646 19,904 1,803 18,10164,979 44,148 2,802 41,345 20,8311,962 18,

65,011 43,990 2,750 41,239 21,0211,970 19,05063,966 43,042 2,631 40,410 20,924 1,88119,04365,581 44,089 2,821 41,268 21,492 1, 968 19, 523

66,681 44,485 2,941 41, 543 22,196 2,091 20,10466,796 44,318 2,976 41,342 22,478 2,181 20,29567,846 44,892 3,077 41,815 22,954 2,262 20,693

2,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,6813,813

3,9314,8064,007

1,5951,4302,415

2,1551,1231,0621,0692,161

1,752

3,1552,473

2,5413,0602,488

279262367

339206222195318

292296

351473451

542472

1,3161,1712,048

1,816917840875

1,842

1,4601,314

1,5412,6802,022

2,0582,5182,016

547633981

756611533

1,069

903

,043,526,340

,390,7471,519

146153228

204150140117197

179214

222284276

310379344

402480753

784609471416873

724730

8201,2421,064

1,0781,3661,176

Seasonally adjusted <

66,651 44,238 2,908 41,359 22,461 2,075 20,39666,723 44,088 2,878 41,288 22,636 2,137 20,49167127 44299 2,925 41,246 22,847 2,215 20,642

2792 1 0 5 2 2 1 6 185 2 0 5 8, ,

67,127 44,29966,398 4,026 , , , , t66,512 44,150 2,969 41,177 22,361 2,078 20,289

900 4 5 0 4 3100 136 2 2 6 3 2128 20327

, , , , , , ,66,398 44,026 2,792 41,205 22,416 2,185 20t25866512 44150 2969 41177 22361 2078 20289, , , , , ,

900 44,504 3,100 41,368 22,463 2,128 20,32766,698 44,412 3,099 41,272 22,288 2,147 20,11266,998 44, 586 3,166 41,325 22,436 2, 216 20,18466,243 44,270 2,904 41,398 21,995 2,112 19,90366,822 44,352 2,909 41,479 22,445 2,193 20,24367,148 44,507 2,920 41, 599 22,658 2,390 20,28666,936 44,360 2,936 41,466 22, 615 2,282 20,340

67,278 44,496 2,989 41, 546 22,831 2,217 20,63667,894 44,825 3,040 41,881 23,069 2,226 20,84167,947 44,910 3,085 41,714 23,057 2,286 20,78767,499 44, 674 3,007 41, 655 22,870 2,204 20,68967,931 45,044 3,170 41,875 22,886 2,318 20, 59767, 711 44,961 3,137 41,788 22,817 2,346 20,442

67,735 44,932 3,159 41,724 22,808 2,307 20,44468,194 45,105 3,174 41,843 23,121 2,360 20,70567,854 44,965 3,029 41,970 22,909 2,175 20,75667,875 44,982 3,022 42,001 22,865 2,166 20,69167,778 44,833 2, 860 41,974 22,962 2,245 20,72668,037 44,948 3,125 41, 886 23,126 2,234 20, 899

4,7614,9684,8744,9805,0194,936

4,9234,8874,8674,7624,3704,274

4,1594,0083,9143,9633,9033,917

3,8284,2184,1673,9774,1644,002

3,0973,1753,0963,2023,2673,117

3,1113,1463,0242,9522,7332,742

2,5362,4882,4172,4892,4722,517

2,4032,6002,5152,4072,5542,491

545576554564552545

507534542551517518

476519458477527478

433435476445539419

2,5522,5992,5422,6382,7152,572

2,6042,6122,4822,4012,2162,224

2,0601,9691,9592,0121,9452,039

1,9702,1652,0391,9622,0152,072

1,6641,7931,7781,7481,7521,819

1,8121,7411,8431,8101,6371,532

1,5201,4971,4741,4311,400

1,4251,6181,6521,6701,6101,511

375384383326344375

419424429399376288

360376360381354301

333339316352378360

1,2891,4091,3951,4221,4081,444

1,3931,3171,4141,4111,2611,244

1,2631,1441,1371,0931,0771,099

1,0921,2791,3361,2181,2321,151

i See Note, Table C-19, for explanation of differences between the old and new definitions.1 Beginning January 1960, data for Alaskalind Hawaii are included.1 Beginning April 1962, not comparable with prior data; see Note, Table C-19.4 Seasonally adjusted totals may differ from the sum of components because totals and components have

been seasonally adjusted separately.

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

Source: Department of Labor.

196


T A B L E C-21.—Employed persons not at work, by reason for not working, and special groups ojunemployed persons, 7946-62

[Thousands of persons 14 years of age and over]

Year or month

Employed persons not at work,by reason for not working

Total Badweather

Indus-trial

disputeVacation Illness

Allother

reasons

Special groups of un-employed persons l

Tempo-rary

layoff 2

New wageand salary

job 3

New definitions: *

1946194719481949

19501951195219531954

19551956195719581959

1960«1961 — .1962*

1961: January.—February..MarchAprilMayJune

July.AugustSeptember-OctoberNovember-December.

1962: JanuaryFebruary..MarchApril*MayJuneJulyAugustSeptember .OctoberNovember .December.

2,1032,2592,4892,244

2,4402,4602,5552.5302,688

2,6822,8893,0173,0763.161

3,2313,1463,281

2,0452,1732,0442,0202,026

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

2,6812,5702,1301,9942,0323,870

7,4776,8392,7802,2632,1742,559

211197110

151111689673

103109139182115

168143160

1942602131895675

172372

2752011041040

293172932476

959779

85571647353

61764559160

405633

201210332818

53402291664326

393727403461

481232192230

662834,044,044

,137,073,130,171,361

,346,447,479,494

,576,492,533

337430407394641

2,178

5,5684,8051,336815585409

322396374428663

2,129

5,6375,1321,448818618

819847844719

718782775827776

835901962882907

942898940

979997942945902807

831849927910858

1,0361,2241,040949870832

843811

9161,002

()273308291

349436418362425

416456425474484

505556615

515474471460399761

814928427441480505

587639487474455

900849472499586621

97123141185

92117142167221

133124150166128

147149121

206260210120137127

10218611310199130

186951159310796

128183107114116117

5892121101

116103117101127

117147110120134

119129125

547110113596311

1571771601029983

1008280107111211

152248154959463

1 Under the old definitions of employment and unemployment, these groups were included in the"employed but not at work" category.

2 Persons on layoff with definite instructions to return to work within 30 days of the layoff.3 Persons scheduled to start new wage and salary jobs within 39 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").

4 See Note, Table C-19 for explanation.5 Not available.• Beginning January 1960, data for Alaska and Hawaii are included.

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



TABLE C—22.-—Selected measures of unemployment and part-time employment, 1948-62

Year or month

New definitions:

19481949

1950 .195119521953. . .1954 _ . _.

1955 . . .19561957 .1958 . . _1959

1960s..19611962 7

1961: JanuaryFebruaryMarchApril-May.. _June

JulyAugustSeptember _.OctoberNovemberDecember . .

1962: JanuaryFebruaryMarchApril iM a yJune-

July .August .SeptemberOctoberNovemberDecember..

Unemployment rate(percent of civilian labor foice

in group)

Allworkers

Experiencedwage and

salaryworkers

Marriedmen '

Labor forcetime lostthrough

unemploy-ment andpart-time

work 2

Percent

3.85.9

5 33.33.12.95.6

4.44.24.36.85.5

5.66.75.6

6.76.96.86.97.06.9

6.96.86.86.76.16.0

5.85.65.55.55.45.5

5.35.85.85.55.85.6

4.26.7

6.03.73.33.26.0

4.84.44 57.25.6

5.76.85.5

6.97.16.97.17.16.9

6.86.86.96.86.16.0

5.85.55.35.45 45.3

5.35.85.85.55.65.5

3.4

4.61.51.41.74.0

2.62.32.85.13.6

3.74.63.6

5.15.38.16.6

6.78.06.7

Seasonally adjusted

4.74.94.74.94.94.8

4.74.84.64.24.23.9

3.83.43.53.73.43.6

3.53.73.43.43.73.5

7.98.28.08.28.48.2

8.28.28.07.97.37.1

6.96.66.66.56.56.6

6.67.06.96.87.06.6

Persons employed part-time in nonagricul-tural industries foreconomic reasons

Usuallyfull-time 3

Usuallypart-time 4

Thousands of persons14 years of age and over

1,530

1,032917958

1,548

9341,0671,1831,6381,032

1,2431,2971,049

1,4991,6051,3981.3421,2911,159

1,2981,2821,1781,2291,1331,081

875880

1,028962

1,0981,002

1,1161,1691.2061,1301,2071,027

786

965694642

866

876900986

1,3151,304

1,3171,5161,287

1,5361,5191,5371,5231,6191,596

1,4701,5531,5911,4131,4821,319

1,2431,3161,2991,1791,2561,298

1,3301,2461,3051,3451,3581,282

1 Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950 for March. Thesedata, including 1955 and 1956, have not been adjusted to reflect the change in the definition of employmentand unemployment adopted in January 1957. See Note, Table C-19.

2 Assumes unemployed persons lost 37.5 hours a week; those on part-time for economic reasons lost differ-ence between 37.5 hours and actual number of hours worked.

3 Includes persons who worked part-time because of slack work, material shortages or repairs, new jobstarted, or job terminated. Data for 1949-55 are for the month of May.

4 Primarily includes persons who could find only part-time work. Data for 1949-55 are for the month ofMay.

5 Not available.• Beginning with January I960, data for Alaska and Hawaii are included.? Not comparable with prior data. See Note, Table C-19.



TABLE C-23.—Unemployed persons, by duration of unemployment, 1947-62

Year or quarter

New definitions:

19471948 . . . .1949

195019511952.. .19531954

1955.1956195719581959 _

1960 i1961 _.1962 2

1960: I iIIIIIIV

1961: I .IIIIIIV

1962: I112I I IIV

Total un-employed

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over26 weeks

Thousands of persons 14 years of age and over

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222, 9364,6813,813

3,9314,8064,007

4,0953,8473,7314,050

5,5285,1034,5894,005

4,5294,0423,8203,637

1,2551,3491,804

1,5151,2231,1831,1781,651

1,3871,4851,4851.8331,658

1,7981,8971,754

1,6341,9571,7411,861

1,9972,0431,8311.724

1,6901,8621,7291,734

704669

1,195

1,055574517482

1,115

815805890

1,3971,113

1,1761,3751,134

1,432910

1,1711,190

1,9221,1881,3141,079

1,450917

1,1711,000

234193427

425166148132495

367301321785469

502728534

563545403499

903953544512

686607371471

164116256

3571378479

317

336232239667571

454804585

467435416499

705919900691

703656549432

Averagedurationof unem-ployment(weeks)

9.88.6

10.0

12.19.78.38.1

11.7

13.211.310.413.814.5

12.815.514.7

13.312.312.313.0

14.016.116.416.0

15.715. 414.013.5

1 Beginning January 1960, data for Alaska and Hawaii are included.

2 Beginning April 1962, not comparable with prior data; see Note, Table C-19.

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


199


TABLE C-24.—Unemployment insurance programs, selected data, 1940-62

Year or month

1)40..1041-1942..1943-1944-

1945-1946-1947-1948-1949..

1950-1951-1952-1953-1954-

1955..1956-1957-1958-1959-

1960...1961__.1962 '..

1961: January..FebruaryMarchAprilMay..June

JulyAugustSeptember—OctoberNovemberDecember

1962: January.FebruaryMarchAprilMayJune

JulyAugustSeptember—OctoberNovember....December 7__.

All programs

Cov-eredem-

ploy-ment 1

Insuredunem-ploy-ment

(weeklyaver-

age) 2 3

Thousands

24,29128,13630,81932,41931,714

30, 08731,85633,87634,64633,098

34,30836,33437,00638,07236,617

40,01442, 75843,43644,41245, 728

46,33446,26447,150

44, 75644,46744,87345,38445,89946, 654

46,76247,15447, 22447,12947,23747,637

46,02246,14646,542(8)

1,331842661149111

7202,8041,8051,4682,479

1,6051,0001,0691,0652,048

1,3951,3181,5673,2692,099

2,0672,9942,080

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

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

3,0152,9142,7022,2161,8401,667

1,6991,6281,4971,5391,7802,220

Totalbenefits

paid(mil-lions

of dol-lars) 2 *

534.7358.8350.4

80.567.2

574.92,878.51,785.01,328. 72,269. 8

, 467.6862.9

1,043.51,050. 62, 291. 8

1, 560. 21, 540. 61,913.04, 209. 22,803.0

3,022. 74,358.23,160.0

436.4435.5500.9419.4457.2403.9

321.9333.5263.4255.3261.4286.0

395.2353.4381.0297.9254.3215.4

205.2218.9181.1198.9215.5255.0

State programs

[nsuredunem-ploy-

ment 3

Initialclaims

Ex-haus-tions 8

Weekly average,thousands

1,282814649147105

5891,2951,0091,0021,979

1,503969

1,024995

1,865

1,2541,2121,4502,5091,682

1,9062,2901,800

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

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

2,4862,4152,2181,8311,5701,469

1,5431,4691,3311,3851,6252,050

2141641223629

116189187210322

236208215218303

226226268370281

331350303

541480372367297279

357271257277320394

429320273267250258

319261235275314422

16181534

2520235033

314632

444953585453

504438353435

393939393330

282625252628

Insured unem-jloyment as per-cent of coveredemployment

Unad-justed

Season-ally ad-justed-

Percent

5.63.02.2.5.4

2.14.33.13.06.2

4.62.82.92.85.2

3.53.23.66.44.4

4.85.64.5

8.18.47.86.85.74.9

4.84.33.83.74.15.0

6.26.05.54.53.93.6

3.63.33.44.05.0

6.16.36.35.95.65.3

5.35.25.15.15.14.8

17164-43.93.84.0

4-34-44.44.64.84.8

Benefits paid

Total(mil-

lions ofdollars)

)

518.7344.3344.1

79.662.4

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. 72,690.0

397.6399.3461.5362.5320.1264.4

224.0237.2185.0180.9190.9218.5

314.9287.2310.2239.6215.0188.9

187.0197.4160.6176.6193.6230.0

Aver-

10.5611.0612.6613.8415.90

18.7718.5017.8319.0320.48

20.7621.0922.7923.5824.93

25.0427.0228.1730.5830.41

32.8733.8034.65

34.3434.4534.3734.1833.4632.92

32.9133.3633.1233.3033.6734.10

34.4434.7334.9834.5234.0434.20

34.0134.2934.4234.6934.9535.30

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

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

3 Covered workers who have completed at least 1 week of unemployment.* Includes benefits paid under extended duration provisions of State laws, beginning June 1968. Annual

data are gross amounts and monthly data are net amounts.8 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Preliminary.• March 1962 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.

200


TABLE C-25.—Number of wage and salary workers in nonagricultural establishments; 1929-62 1

[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-

1960.1961.1962 3

1960: JanuaryFebruary. _MarchAprilMayJune

JulyAugustSeptember-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

54,34754,07755,325

Manufacturing

Total

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

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

10.702

9,5628,1706,9317,3978,501

9,0699,82710,7949,44010,278

10,98513,19215,28017,60217,328

15,52414.70315, 54515,58214,441

15,24116,39316, 63217, 54916,314

16,88217,24317,17415,94516, 667

16, 76216, 26716,750

Dura-ble

goods

()4,715

5,3636,9688,82311,08410,856

9,0747,7428,3858,3267,489

9,0899,34910,1109,129

9,5419,8349,856

9,4419,0429,443

Non-dura-

blegoods

()5,5645,6226,2256,4586,5186,472

6,4506,9627,1597,2566,953

7,1477,3047,2847,4387,185

7,3407,4097,3197,1167,298

7,3217,2257,308

Min-ing

1,087

1,009873731744

897946

1,015891854

925957992925892

862955994930

901

791

792822828751731

709666647

Con-tractcon-

struc-tion

1,497

1,3721,214970809862

9121,1451,1121,0551,150

1,2941,7902,170'., 567,094

,132,661,982

2,1692,165

2,3332,6032,6342,6232,612

2,8022,9992,9232,7782,955

2,7602,696

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

4,0173,9233,925

Whole-saleand

retailtrade

6,123

5,7975,2844,6834,7555,281

5,4315,8096,2656,1796,426

6,7507,2107,1186,9827,058

7,3148,3768,9559,2729,264

9,3869,74210,00410,24710,235

10, 53510, 85810,88610,75011,125

11,41211,36811,571

Fi-nance,insur-ance,andreal

estate

Serv-ice

andmiscel-lane-ous

1,509

1,4751,4071,3411,2951,319

1,3351,3881,4321,4251,462

1,5021,5491,5381,5021,476

1,4971,6971,7541,8291,857

1,9191,9912,0692,1462,234

2,3352,4292,4772,5192,597

2,6842,7482,793

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

6,2746,5366,7496,8li7,105

7,3617,5167,757

Gov-ern-

ment(Fed-eral,State,and

local)

Seasonally adjusted

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, 5208,8289,185

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

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

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

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

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

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

716723722729725717

698706700698693679

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

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

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

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

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

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

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

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

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

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

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

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


201


T A B L E C-25.—Number of wage and salary workers in nonagricultural establishments, 1929-621

Continued

[Thousands of employees]

Year or month

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-ble

goods

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

1961: JanuaryFebruary. __MarchAprilMayJune .

JulyAugustSeptember..OctoberNovember-.December. _

1962: JanuaryFebruary.._March _AprilMayJune..

JulyAugustSeptember..OctoberNovember».December 3_

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

54,33554,33354,30454, 38554,52554,492

54,43454,77354,90155,26055,40355,535

55,61755,53655,58355,64755,57755,594

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

16,39216,38116, 32316.36116,46616,513

16,45616,57216,68216,84816,89116,923

16,90816,79516,80516,78116,67616,684

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

9,1389,1319,1059,1129,2139,244

9,2179,3129,3859,4909,5449.555

9,5529,4619,4869,4709,4079,439

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

7,2547,2507,2187,2497,2537,269

7,2397,2607,2977,3587,3477,368

7,3567,3347,3197,3117,2697,245

672667668666670669

672665666661665654

653653654656659652

648646641638638626

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

2,7762,7702,7542,7582,7192,699

2,5942,6942,6482,7342,7162,671

2,7382,7312,7152,7162,6982,659

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

3,9423,9393,9393,9293,9273,911

3,9063,9143,9273,9353,9363,934

3,9133,9323,9283,9353,9203,920

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

11,43711,41011,36311, 36511,37411,366

11,38411,44711.46011, 54611,59611,621

11, 65211,62711,61211,59411,59211,577

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

2,7482,7'572,7562,7642,7712,770

2,7722,7742,7762,7782,7862,788

2,7922,7962,7992,8132,8202,817

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

7,5337,5467,5677,5807,6117,642

7,6407,6757,6817,6757,6927,749

7,7837,8057,8097,8317,8477,880

8,6718,6828.7128,7348,7748,821

8,8358,8658,9368,9678,9928,937

9,0299,0449,0739,0889,1279,197

9,1839,2049,2749,3399,3869,431

1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of the pay period ending nearest the 15th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagricultural employment of the civilian labor force (Table C-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.—Data are based on the 1957 Standard Industrial Classification and March 1959 benchmark data.

Data for Alaska and Hawaii included beginning January 1959.8ourc?: Department of Labor.

202


TABLE C-26.—Average weekly hours of work in selected industries, 1929-62

Year or month

Manufacturing

Total Durablegoods

Non-durablegoods

Con-tractcon-

struc-tion

Retailtrade

(excepteating

anddrink-

ingplaces)

Whole-sale

trade

Bitumi-nouscoal

mining

38.133.328.127.029.326.826.228.527.723.326.827.830.732.436.343.042.041.340.337.732.334.734.933.834.132.337.337.536.333.335.835.835.936.9

Class Irail-

roads l

(3)

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

(3)(3)(3)(3)43.744.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.641.941.742.1(3)

Tele-phonecom-

muni-cation 2

1929—1930—1931—1932—1933—1934—

1935—1936—1937—-1938—1939—

1940—1941—1942—1943—1944—

1945—1946—1947—1948—1949—

1950—1951—1952—1953—1954—

1955—1956—1957—1958—1959—

1960—1961...1962«..

1961: January...February.MarchAprilMayJune -JulyAugustSeptember .OctoberNovember -December--

1962: JanuaryFebruary. _MarchAprilMayJuneJulyAugust-September..OctoberNovember 5_December 5_

44.2

42.140.538.338.134.636.639.238.635.637.7

38.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.4

()32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.240.9

()41.940.035.136.137.737.436.137.437.038.940.342.543.1

42.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.7

()38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.936.8

39.739.639.138.738.738.738.538.137.9

41.642.943.142.341.841.341.141.442.343.042.841.641.141.040.840.740.840.740.640.540.740.540.340.240.640. 540.540.6

Seasonally adjusted Unadjusted

39.039.339.339.739.839.940.040.039. C40.2 I40.640.439.840.340.540.840.640.540.540.240.540.140.440.3

39.339.639.740.040.240.440.540.539.840.641.241.240.340.941.041.341.141.041.040.941.040.741.041.0

38.738.839.139.339.339.539.539.339.239.639.7',9.739.239.539.940.240.140.039.839.439.739.339.439.7

37.538.136.935.736.336.836.937.136.737.237.535.534.437.037.336.637.536.737.437.337.737.237.3(3)

38.338.438.238.238.338.138.237.938.038.037.938.137.938.038.037.838.037.937.937.938.037.837.9

40.340.140.240.340.340.640.740.640-540.640.640.840.440.340.540.640.640.7

40.840.740.740.640.6

35.334.731.432.934.737.038.036.836.837.937.737.837.637.937.737.335.237.4

36.536.236.936.2

41.142.642.240.443.043.041.643.241.942.142.841.842.942.942.541.843.142.4

(')(3)(3)

()38.838.939.139.540.140.541.942.3

4 41. 739.437.439.238.538.939.138.538.738.939.639.539.038.439.239.639.440.0

39.039.138.838.738.939.239.639.540.340.139.739.539.339.439.339.239.439.740.340.240.640.541.2

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, officialsand staff assistants.

2 Prior to April 1945, data relate to all employees except executives. See footnote 2, Table C-27.3 Not available.4 Nine-month average, April through December, because of new series started in April 1945.« Preliminary.NOTE.—See Note, Table C-25.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 1962 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 C-29 for unadjusted average weekly hours in manufacturing.Data for Alaska and Hawaii included beginning January 1959.Source: Department of Labor.

203


TABLE C-27.—Average gross hourly earnings in selected industries, 1929-62

Year or month

Manufacturing

TotalDura-

blegoods

Non-dura-

blegoods

Con-tractcon-

struc-tion

Retailtrade

(excepteatingand

drinkingplaces)

Whole-sale

trade

Bitu-minous

coalmining

Class Irail-

roads i

Tele-phonecom-

munica-tion 2

Agri-cul-

tures

1929

1930.1931193219331934

19351936193719381939

1940194119421943 - -1944

194519461947 - —1948.1949 _ -

19501951195219531954. -

1955 —1956 —195719581959

I96019611962«

1961: JanuaryFebruary-MarchAprilMayJuneJulyAugustSeptember-OctoberNovember..December._.

1962: JanuaryFebruary....MarchAprilMayJuneJulyAugustSeptember.OctoberNovember«_December 6 .

$0. 560.546.509.441.437.526

.544

.550

.617

.620

.627

.655

.726

.851

.9571.011

1.0161.0751.2171.3281.3781.4401.561.651.741.78

1.861.952.052.112.19

2.262.322.39

2.292.292.292.312.322.32

2.332.312.332.342.362.382.392.382.382.392.392.39

2.392.372.402 402.412.42

()$0.492.467.550.571.580.667.679.691

.716

.799

.9371.0481.105

1.0991.1441.2781.3951.453

1.5191.651.751.861.90

1.992.082.192.262.36

2.432.492.57

2.452.452.462.472.482.49

2.492.482.502.512.542.55

2.562.552.562.562.562.56

2.562.542.572.572.592.60

&0. 412.419.505

.520

.519

.566

.572

.571

.590

.627

.709

.787

.844

.886

.9951.1451.2501.295

1.3471.441.511.581.62

1.671.771.851.911.98

2.052.112.17

2.092.092.092.102.112.11

2.122.102.122.132.142.15

2.162.152.162.162.172.17

2.172.162.172,172.192.19

()$1. 5411.7131.7921.8632.022.132.282.39

2.452.572.712.822.93

3.073.193.28

3.173.163.143.153.163.16

3.163.173.223.223.243.293.333.233.273.273.243.23

3.273.283.333 323.33

()(O(4>

()$0. 484

.494

.518

.559

.606

.653

.699.

.797

.901

.9721.015

1.0501.131.181.251.29

1.341.401.471.521.571.621.681.751.661.651.651.671.681.69

1.691.691.701.711.711.69

1.721.731.731.741.751.75

1.751.751.761 771.77

$0.610.628.658.674.688

.711

.763

.828

.898

.948

.9901.1071.2201.3081.360

1.4271.521.611.701.76

1.831.942.022.092.19

2.252.312.37

2.282.282.282.302.302.322.322.312.342.332.342.34

2.332.342.352.362.372.38

2.382.382.412.392.40

$0. 659

.662

.626

.503

.485

.651

.720

.768

.828

.849

.858

.854

.9601.0301.1011.147

1.1991.3571.5821.8351.8771.9442.142.222.402.40

2.472.722.922.9?3.U

3.153.143.13

3.143.123.103.123.123.17

3.173.143.153.133.143.14

3.153.133.153.153.113.13

(4)3.133.163.123.10

($0.730

.733

.743

.837

.852

.948

.9551.0871.1861.3011.427

1.5721.731.831.881.931.962.122.262.442.542.612.67(4)

2.652.702.642.682.652.662.682.652.692.672.682.692.672.732.672.682.662.72

()$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

2.262.372.47

2.322.322.322.332.342.35

2.362.372.422.412.432.442.442.442.442.442.442.46

2.472.472.522.522.50

$0.241

.226

.172

.129

.115.129

.142

.152

.172

.166

.166

.169

.206

.268

.353

.423

.472

.515

.547

.580

.559

.561

.625

.661

.672

.661

.675

.705

.728

.757

.798

.818

.834

.856

.909

.757

.825

.843

.932

"779

.848

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

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

* Weighted average of all farm wage rates on a per hour basis.• Not available.« Nine-month average, April through December, because of new series started in April 1945.•Preliminary.NOTE.— See Note, Table C-25.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 1962 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 Agriculturt.

204


TABLE C-28.—Average gross weekly earnings in selected industries, 1929-62

Year or month

192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961__- _1962 51961: January

February. _.MarchApril ._.MayJuneJuly _._.AugustSeptember..OctoberNovember. .December. _.

1962: JanuaryFebruary- . .MarchAprilMayJuneJulyAugustSeptember..OctoberNovember ».December «_

Manufacturing

Total

$24. 7623.0020.6416.8916.6518.2019.9121.5623.8222.0723.6424.9629.4836.6843.0745.7044.2043.3249.1753.1253.8858.3263.3467.1670.4770.4975.7078.7881.5982.7188.2689.7292.3496.56

89.3189.5490.7892.1093.0393.2092.8692.7394.5495.8296.6394.8895.2095.9196.5696.8097.2796.8095.7597.6896.7297.3698.01

Dura-ble

goods

$26.8424.4220.9815.9916.2018.5921.2423.7226.6123.7026.1928.0733.5642.1748.7351.3848.3646.2251.7656.3657.2562.4368.4872.6376.6376.1982.1985.28

89.2796.0597.44

100.10105.1196.2996.2997.1798.3199.70

101.09100.35100. 44100.00102.66104. 39105. 32103.17103. 53104. 45105. 22105. 22105.47104. 45103.89105.88105.37105.93106.86

Non-durablegoods

$22.4721.4020.0917.2616.7617.7318.7719.5721.1720.6521.3621.8324.3928.5733.45

37.4840.3046.0349.5050.3853.4856.8859.9562.5763.1866.6370.0972.5274.1178.6180.3682.9286.1580.4780.4780.8881.2782.2983.56

84.1683.5883.7484.7785.3985.5784.2484.2885.3285.5486.3787.0286.8086.1886.8085.7286.7287.16

Con-tractcon-

struc-tion

()$58.8765.2767.5669.6876.9682.8686.4188.9190.9096.38100.27103. 78108.41112.67117. 71120.70115.39114.08112. 41112.77116. 29119.13119.76122.05120.43123. 00118.26114. 82111. 22113. 37118.05120.01123. 44121. 45125. 57127. 26128. 21126. 82120. 88

Retailtrade

(excenteating:

anddrink-

ingplaces)

()$21. 0121.3422.1723.3724.7926.7728.5932.9236.9439.7541. 6243.1646.2247.7949.7551.2153.0654.7456.8958.8260.7662.3764.0166.3363.2562.8762.7063.4663.8464.9065.5765.2364.6064.6464.1364.7364.8465.2265.3965.4265.9866.8567.3867.5566.8866.5566.38

Whole-sale

trade

C3)(3)

$26. 7525.1925.4425.3826.9628.3628.5128.7629.3631.3634.2837.9940.7642.3746.0550.1453.6355.4958.0862.0265.5369.0271.2874.4878.5781.4184.0288.9191.1393.5696.22

91.8891.4391.6692.6992.6994.1994.4293.7994.7794.6095.0095.4794.1394.3095.1895.8296.2296.8797.1096.8798.0997.0397.44

Bitumi-nouscoal

mining

$25.1122.0417.5913.5814.2117.4518.8621.8922.9419.7822.9923.7429.4733.3739.9749.32

50.3656.0463.7569.1860.6367.4674.6975.0481.8477.5292.13

102. 00106.0097.57

111. 70112.77112.73114.60110.84108. 2697.34

102. 65108. 26117.29120.46115. 55115. 92118. 63118.38118.69118.44118. 63118.76117. 50109. 47117.06103.60114. 25114.39115.13112.22

Class Irail-

roads *

Tele-phonecom-mu-nica-tion2

()$30.0331.7432.1432.6732.8834.1436.4538.54

* 40.1244.2944.7748.9251.7854.3858.2661.2265.0268.4672.0773.4776.0578.7285.4689.5093.3898.8090.4890.7190.0290.1791.0392.12

93.4693.6297.5396.6496.4796.3895.8996.1495.8995.6596.1497.6699.5499.29

102.31102.06103.00

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

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

3 Not available.4 Nine-month average, April through December, because of new series started in April 1945.f Preliminary.

NOTE.—See Note, Table C-25.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 1962 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.


205


TABLE C-29.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-62

Year or month

Gross

All manufacturing industries

Averageweeklyhours

Ex-clud-ing

over-time

Gross

Average hourlyearnings

Ex-clud-ing

over-time

Exclud-ing

over-timeand

inter-indus-

try shift(1957-

59=100)

Durable goods manufac-turing industries

Averageweeklyhours

Gross

Ex-clud-ing

over-time

Averagehourly

earnings

Gross

Ex-clud-ing

over-time

Gross

Nondurable goods manu-facturing industries

Averageweeklyhours

Ex-clud-ing

over-time

Gross

Averagehourly

earnings

Ex-clud-ing

over-time

1939194019411942194319441945194619471948 •19491950195119521953195419551956195719581959196019611962*1961: January

FebruaryMarchAprilMayJuneJulyAugustSeptember-OctoberNovember..December...

1962: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember..OctoberNovember *.December *.

37.7

38.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.438.939.039.139.339.740.140.040.239.840.440.640.639.740.040.340.440.540.740.540.440.740.340.440.5

37.337.437.6

37.037.137.137.237.537.737.537.637.037.637.737.787.137.537.737.737.737.837.737.637.737.5

'37.537.5

$0.627.655.726$0..851.957

1.0111.0161.0751.2171.3281.3781.4401.561.651.741.781.861.952.052.112.192.262.32

2.292.292.292.312.322.322.332.312.332.342.362.382.392.382.382.392.392.392.392.372.402.402.412.42

0)0)

3.691.793.881.933

3.9491.0351.181.291.341.391.511.591.681.731.791.891.992.052.122.202.252.312.242.232.242.252.252.252.262.242.252.262.282.302.312.312.312.312.312.31

2.312.292.312.322.332.34

32.2

0)2 33.42 37.52 40.82 43.72 45.52 50.4

57.863.266.168.273.677.481.684.386.991.596.2

100.2103.6107.0110.01J2.5109.0109.0109.2109.6109.8109.9110.1109.8110.1110.7111.2111.7111.7111.7112.2112.2112.2112.2112.7112.7112.7113.2113.70)

37.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.240.939.339.339.539.840.240.640.340.540.040.941.141.340.340.640.841.141.141.240.840.41.241.040.941.1

$0.691.716799 $0.762

.9371.0481.105

.872

.9661.019

1.099 31.031

37.737.938.137.537.537.737.838.138.338.038.037.3

37.738.138.138.438.338.238.038.038.138.137.937.9

1.1441.2781.3951.4531.5191.651.751.861.901.992.082.192.262.362.432.492.572.452.452.462.472.482.492.492.482.502.512.542.55

2.562.552.562.562.562.562.562.542.572.572.592.60

1.1111.241.351.421.461.591.681.791.841.912.012.122.212.282.362.422.48

2.392.392.402.412.422.422.422.412.412.432.452.462.482.472.482.482.472.472.472.462.482.482.502.50

37.4

37.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.738.538.538.738.739.039.639.39.839.539.839.939.839.039.239.39.639.840.140.039.940.039.539.639.8

()37.237.036.637.036.736.837.036.436.436.536.536.737.037.137.036.636.937.137.136.536.736.937.037.037.237.237.237.136.836.837.1

$0.571.590

0)0)

627 $0,613.709.787.844.886.995.145.250.295.347.44.51.58.62.67.77.85.91

2.052.112.172.092.092.092.102.112.112.122.102.122.132.142.152.162.152.162.162.172.172.172.162.172.172.192.19

.684

.748

.798».841.962

1.111.211.26

.31

.40

.46

.53

.58

.62

.72

911.992.052.102.042.032.042.052.052.042.052.032.052.062.062.082.092.082.092.092.092.102.102.092.102.102.112.12

» Not available.2 April used. Annual average not available.3 Eleven-month average; August 1945 excluded because of VJ Day holiday period.* Preliminary.NOTE.—Series revised; see Note, Table C-25.Data relate to production workers and are for pay period ending nearest the 15th of the month.The annual figures for 1962 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 C-26 for seasonally adjusted average gross weekly hours.Data for Alaska and Hawaii included beginning January 1959.Source: Department of Labor.

206


T A B L E C-30.—Average weekly earnings, gross and spendable, in manufacturing industries,in current and 1962 prices, 1939-62

Year or month

1939 . __

1940 _--194119421943 __ _ .1944 . _

1945 - _ _ _1946 -194719481949

1950 _195119521953 _ . - _1954

1955195619571958 . _ . -1959

I960 _.19611962 3

1961' J a n u a r yFebruaryMarch..AprilMay_June

July .AugustSeptemberOctoberNovember. _December __ ._

1962: January.FebruaryMarchApril _ _ .M a yJune. _ _- _

JulyAugust - -SeptemberOctoberNovember 3

December 3

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

89.7292.3496. 56

89.0889.3189.5490.7892.1093.03

93.2092.8692.7394.5495.8296.63

94.8895.2095.9196.5696.8097.27

96.8095.7597.6896.7297.3698.01

1962prices i

$51.50

53.9160.5368.0575. 3078.52

74.2967.1666.6366.8268.46

73.3673.7476.4979.7279. 38.

85.5487.7387.7386.6191.65

91.7493.3796.56

90.4490.5890.8192.0793.5094.26

94.0593.8093.4895.3096.5997.51

95.7495.7796.3096.7596.9997.37

96.7095.6597.0096.1496.78

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

72.5774.6077.87

72.0872.2672.4373.3974.4175.15

75.2975.0174.9176.3677.3978.04

76.5176.7777.3477.8678.0578.43

78.0577.2178.7677.9978.5079.02

1962prices 1

$50.92

52.8357.4159.0062.8565.27

61.8857.8457.0558.5859.99

63.2261.6662.6965.1565.82

70.6372.2971.9771.0274.65

74.2075.4377.87

73.1873.2973.4674.4375.5476.14

75.9775.7775.5176.9878.0178.75

77.2077.2377.6578.0278-2178.51

77.9777.1378.2177.5278.03

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

80.1182.1885.55

79.6079.7879.9780.9581.9982. 74

82.8882.6182.5083.9885.0385.70

84.1584.4185.0085.5385.7386.11

85.7384.8786.4585.6686.1986.72

1962prices 1

$50.98

53.3759.9467.3772.2675.19

71.5866.3464.4765.8067.28

70.8970.0671.7374.2173.93

78.8680.4679.9078.7782.45

81.9183.0985.55

80.8180.9181.1182.1083.2483.83

83.6383.4483.1784.6685.7286.48

84.9184.9285.3485.7085.9086.20

85.6484.7985.8585.1585.68

1 Estimates in current prices divided by the consumer price index on a 1962 base (using 11-month average).2 Average gross weekly earnings less social security and income taxes.3 Preliminary.4 Not available.NOTE.—Series revised; see Note, Table C-25.Data relate to production workers and are for pay period ending nearest the 15th of the month.The annual figures for 1962 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.


207


TABLE G-31.—Labor turnover rates in manufacturing industries, 1930-62[Rates per 100 employees]

Year or monthAccession rates

Total i New hires

Separation rates

Total 2 Quits Layoffs

1930-.1931-.1932..1933..1934..

1935..1936-.1937-.1938..1939-.

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

1945.1946-.1947,1948.,1949.,

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

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

I960..1961-1962 f

1961: JanuaryFebruary.. .MarchAprilMayJune.--

July —AugustSeptember-OctoberNovember-December.-

1962: JanuaryFebruary. __MarchAprilMay_June __.

JulyAugustSeptember..OctoberNovember 5,

3.83.74.16.55.7

5.15.34.34.75.0

5.46.59.39.17.4

7.78.16.25.44.3

5.35.35.44.8

4.54.23.63.64.2

3.84.14.2

()8

8I

4.14.13.61.9

3.02.82.21.72.6

2.22.22.6

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

4.34.04.1

1.91.1.9

1.11.1

1.11.31.5.8

1.0

1.12.44.66.36.2

6.15.24.13.41.9

2.32.92.82.81.4

1.91.91.61.11.5

1.31.21.5

Seasonally adjusted

4.03.84.64.44.23.9

4.04.13.74.44.03.8

4.44.14.34.44.33.9

4.14.03.84.03.5

1.81.71.92.02.12.1

2.22.32.22.52.42.5

2.62.42.72.72.92.5

2.52.42.32.32.2

4.74.54.23.53.84.0

4.33.84.13.63.94.1

3.93.93.83.74.14.3

4.64.84.13.83.8

1.11.11.11.01.21.2

1.11.21.31.31.31.4

1.41.51.51.31.61.5

1.31.51.41.41.3

3.63.54.23.23.7

3.02.43.53.92.6

2.61.61.3.777

2.61.41.11.62.9

1.31.41.41.62.3

1.51.72.12.62.0

2.42.21.9

2.92.92.31.92.02.2

2.51.92.21.71.82.1

1.91.91.61.61.82.0

2.42.62.01.81.8

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.8 Preliminary.NOTE—See Note, Table 0-25.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.

208


TABLE C-32.—Indexes of output per man-hour and related data, 1947-62

[1957-59=100]

YearTotalpri-vate

Output per man-hour

Agri-cul-ture

Nonagriculturalindustries

Total

Man-ufac-tur-ing

Non-man-'ufac-tur-ing

Output»

Totalpri-vate

Agri-cul-ture


Total

Man-ufac-tur-ing

Non-man-ufac-tur-ing

Man-hours

Totalpri-vate

Agri-cul-ture


Total

Man-ufac-tur-ing

Non-man-ufac-tur-ing

Establishment basis 2

1947...1948...1949...

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

1955...1956.._1957...1958...1959.__

I960...1961.__1962 3..

1947...1948...1949...

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

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

1960...1961. _.1962 3..

70.973.475.5

80.982.984.788.289.7

93.893.997.299.6

103.3

105.3108.9113.4

50.259.656.8

64.764.069.977.883.4

86.488.394.2

103.0102.8

109.3117.9121.8

76.377.980.8

85.186.587.690.091.4

95.394.997.599.4

103.1

104. 8107.9112.1

74.876.878.5

83.785.286.490.689.8

96.097.197.298.9

103.7

106.1110.7114.9

76.878 282.0

85.686.887.889.092.0

94.693.497.699.7

102.7

104.2106.8110.6

68.471.270.8

77.382.084.488.687.2

95.097.098.997.0

104.1

106.9108.6114.4

81.292.888.0

92.887.090.493.797.6

102.9100.599.0

100.5100.0

104.8106.2107.2

67.770.069.8

76.481.784.188.386.6

94.596.898.996.8

104.3

107.0108.8114.9

71.172.667.6

78.385.788.497.388.1

99.5102.1100.794.2

105.0

107.1108.6117.3

65.968.771.0

75.579.681.983.785.8

92.094.198.098.1

103.9

107.0108.9113.6

96.597.093.8

95.698.999.6

100.597.2

101.3103.3101.897.4

100.8

101.599.7

100.9

161.8155.8154.8

143.4136.0129.4120. 5117.0

119.1113.8105.197.697.3

95.990.188.0

88.789.986.4

89.894.496.098.194.8

99.2102.0101.497.4

101.2

102.1100.8102.5

95.194.586.1

93.5100.6102.3107.498.1

103.6105.2103.695.2

101.3

100.998.1

102.1

85.887.986.6

88.291.793.394.0

97.3100.7100.498.4

101.2

102.7102.0102.7

Labor force basis4

68.570.672.0

77.581.183.787.589.7

94.194.497.599.1

103.4

104.9107.4111.2

50.259.656.4

64.563.669.477.383.0

85.987.894.2

103.1102.7

109.3118.4122.1

73.874.576.9

81.484.786.789.591.5

95.895.798.098.8

103.2

104.2106.0109.5

(8)00

(5)

(8)(5)(8)(6)

(8)(5)

(8)(5)

(5)

(8)(8)(8)

(8)

8(5)

(8)

i(5)(5)(6)

(8)(5)

(5)

(8)(8)

68.471.270.8

77.382.084.488.687.2

95.097.098.997.0

104.1

106.9108.6114.4

81.292.888.0

92.887.090.493.797.6

102.9100.599.0

100.5100.0

104.8106.2107.2

67.770.069.8

76.481.784.188.386.6

94.596.898.996.8

104.3

107.0108.8114.9

(8)(8)(8)

(8)(8)(8)(8)(8)

(5)

(8)(5)(5)

(5)

(8)(5)(8)

(8)(5)

(8)

(5)

(8)(8)(8)(8)

(5)

(8)(8)(5)

(5)

(8)(8)(8)

99.8100.998.3

99.7101.1100.8101.397.2

101.0102.7101.497.9

100.7

101.9101.1102.9

161.8155.6156.1

143.9136.8130.2121.2117.6

119.8114.5105.197.597.4

95.989.787.8

91.793.990.8

93.996.597.098.794.6

98.6101.2100.998.0

101.1

102.7102.6104.9

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.8 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.Data for Alaska and Hawaii included beginning 1960.Source: Department of Labor.

669333 0—63 14 209


PRODUCTION AND BUSINESS ACTIVITY

TABLE G—33.—Industrial production indexes, market groupings, 1947-62

[1957-59=100]

Year or month

1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962

1961: January . . .February..MarchAprilMayJune

JulyAugustSeptember.October. . .November.December .

1962: January . . .February. _MarchAprilMayJune

JulyAugustSeptember.OctoberNovember.December3

Totalindus-trialpro-duc-tion 1

65.768.464.7

74.981.384.391.385.8

96.699.9

100.793.7

105.6

108.7109.8118.2

Final products

Total

64.266.664.5

72.878.684.389.985.7

98.199.494.8

105.7

109.9111.3119.7

Consumer goods 2

Total

67.169.2

78.677.879.585.084.3

93.395.597.096.4

106.6

111.0112.7119.8

Auto-motiveprod-ucts

69.472.672.0

90.680.172.191.385.0

118.397.8105.286.7108.1

123.2111.8131.2

Homegoods

71.766.3

91.478.778.890.286.0

97.3100.996.692.8

110.7

110.8112.2122.2

Equipment,includingdefense

Total

55.458.352.0

56.478.494.1

100.5

95.0103.7104.691.3

104.1

107.6108.3119.7

Busi-ness

102.0105.992.7

99.2121.2137.396.685.1

91.9104.7105.389.8

104.9

110.2110.1122.0

Materials

Total

67.070.264.8

76.983.884.392.685.9

99.0101.6101.992.7

105.4

107.6108.4116.9

Dur-able

goods

68.271.064.2

79.587.888.9

100.788.4

104.7105.3104.890.0

105.1

106.6104.8114.1

Non-durablegoods

Seasonally adjusted

103.3103.4103.8106.6108.8110.9

112.0113.4112.0113.5114.8115.6

114.3116.0117.0117.7118.4118.6

119.3119.7119.8119.3119.5119.6

106.0106.4106.6108.6110.1111.8

112.7113.4112.6114.8116.4116.9

115.7116.8118.2118.5120.2120.6

121.7121.6122.0121.5121.7122.3

106.7107.4108.0110.3111.9113.9

114.9115.3113.4115.9117.5117.9

116.5117.3118.8119.1121.1120.9

121.7120.9121.8120.7121.2122.0

99.895.394.5

107.8113.0118.1

120.9121.8102.8116.4127.3130.8

127.8123.7122.6129.4132.8126.8

135.2134.1135.3135.4136.2138.0

101.8103.5105.5109.3112.5114.5

115.7114.2115.9116.0117.9120.3

118.8120.4122.6124.4126.0126.2

122.7121.2122.2120.8122.8(4)

104.3104.2103.5105.2106.1107.3

108.1109.4110.8112.4114.1114.9

112.7115.0116.1117.0118.5120.1

121.8123.2123.2123.7123.0123.0

106.1106.0105.1107.0107.9109.4

110.1111.4112.7114.1115.8116.4

113.4116.3118.0119.3121.2123.1

124.4125.6126.2126.6125.7125.0

100.7•100.5101.7105.3107.7110.0

110.5111.9110.9112.9113.9114.8

113.7115.5116.9117.1117.0117.1

117.0117.7118.1117.1117.9117.7

95.094.395.9

101.0104. 5107.9

108.2109.8107.6110.2110.9111.8

110.8113.1115.1116.2114.6113.7

113.8114.8114.9113.9114.2114.0

64.968.264.2

73.378.879.084.183.3

93.097.798.995.4

105.7

108.7112.1119.7

106.6106.9107.8109.8111.0112.2

112.9114.1114.3115.7116.9118.0

116.6117.8118.6117.9119.3120.5

120.3120.7121.5120.5121.6122.0

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

2 Also includes apparel and consumer staples, not shown separately.8 Preliminary.< Not available.

Source: Board of Governors of the Federal Reserve System.

210


T A B L E C—34.—Industrial production indexes, industry groupings, 1947—62

[1957-59=100]

Year or month

Totalindus-trial

produc-tion

Manufacturing

Total

Durable manufactures

TotalPri-

mary-metals

Fabri-catedmetalprod-ucts

Ma-chinery

Trans-porta-tion

equip-ment

Instru-mentsand re-latedprod-ucts

Clay,

andlumber

Furni-tureand

miscel-laneous

1947.1948.1949.

1950.1951.1952.1953.1954.

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

I960..1961..19621

1961: JanuaryFebruary..MarchAprilMay__June

JulyAugustSeptember.OctoberNovember.December.

1962: JanuaryFebruary..MarchAprilMayJune.

JulyAugustSeptemberOctoberNovember-December

65.768.464.7

74.981.384.391.385.8

96.699.9

100.793.7

105.6

66.468.965.1

75.881.985.292.786.3

97.3100.2100.893.2

106.0

108. 7 108. 9109. 8 109. 7118.2 118.6

64.367.060.9

74.183.588.599.988.4

101.9104.0104.090.3

105.6

108.5107.0117.9

90.794.379.4

99.9108.799.3

112.591.3

118.4116.4112.287.5

100.4

101.398.9

104.9

75.977.2

85.491.289.0

100.390.2

101.592.9

105.5

107.6106.5117.2

65.366.559.0

72.783.092.1

100.587.7

96.5107.1104.288.8

107.1

110.8110.4123.4

42.946.947.1

56.462.973.191.783.8

102.097.4

106.489.5

104.0

108.2103.6118.3

53.755.249.2

57.365.778.185.382.9

88.795.498.092.1

109.9

116.5115.8123.0

75.879.772.3

87.792.089.392.7

100.7102.097.594.1

108.5

105.7104.5109.2

Seasonally adjusted

103.3103.4103.8106.6108.8110.9

112.0113.4112.0113.5114.8115.6

114.3116.0117.0117.7118.4118.6

119.3119.7119.8119.3119.5119.6

102.5102.6103.2106.3108.7111.0

112.3113.7112.1113.5115.0115.9

114.4116.3117.4118.1118.8118.9

119.7120.3120.4119.6119.9120.3

98.698.398.8

103.1106.5109.2

110.8112.1109.7111.2113.0114.5

113.2115.4116.5118.5118.2117.7

118.7119.8119.5118.6119.0119.4

79.981.482.492.1

100.8103.5

107.6109.6110.0106.7106.2111.0

111.9117.5116.6112.4101.396.8

96.699.199.698.8

101.5104

98.496.8.97.7

101.1105.2108.9

109.8112.7108.5111.3113.5113.3

111.0111.9113.6116.3117.4118.5

118.8119.9119.3117.8118.5118

104.8104.7104.5107.5108.8111.2

112.9113.5112.8113.9114.7116.8

115.6117.5120.2122.9124.5125.9

125.4126.5126.4125.4125.3125

95.294.094.299.9

104.2107.2

108.0109.4100.5107.0112.2113.7

112.5113.4113.4116.8119.4116.8

122.1122.0121.5121.8121.3122

113.6111.9111.6112.8114.3116.2

116.4117.9118.0118.0119.4119.8

118.9118.5119.0122.3122.6124.7

124.9125.8124.3124.2125.0126

99.4-98.6

101.2103.2104.8106.9

107.2107.8107.3105.3105.6104.7

101.5106.6105.9108.9110.1110.7

109.9112.1112.5108.9109.4110

73.577.471.6

83.780.282.489.7

97.9101.097.693.3

109.0

113.3114.1124.5

106.4106.6107.1110.3112.0114.7

115.4116.2117.7119.0121.3120.8

117.6118.2121.5126.1127.3127.4

127.3125.8J26.8125.3125.1125

See footnote at end of table.

211


TABLE C-34.—Industrial production indexes, industry groupings, 7947-62—Continued

[1957-59=100]

Year or month

Manufacturing

Nondurable manufactures

Total

Textile,apparel,

andleather

products

81.084.580.6

89.187.489.590.786.9

95.598.096.995.0

108.1

107.5108.4115.3

Paperand

printing

66.769.469.3

76.779.477.782.685.0

92.597.197.897.0

105.2

109.0112.4116.8

Chem-ical,

petro-leum,and

rubberproducts

47.550.849.4

60.767.469.975.274.7

86.891.495.695.5

108.9

113.9118.8130.5

Foods,bever-ages,and

tobacco

Mining Utilities

1947.-1948-1949-

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

1955..1956-1957-1958-1959-

1960..1961..1962 1

1961: January-_.February..MarchAprilMayJune

July—AugustSeptember..OctoberNovember-December..

1962: January...February..MarchAprilMayJune

July.AugustSeptember.OctoberNovember.December *_

67.269.568.3

76.078.580.083.683.6

91.695.496.796.8

106.5

109.5112.9119.5

80.780.080.8

83.685.487.388.2

93.196.696.799.4

103.9

106.6110.4113.0

Seasonally adjusted

79.984.074.5

83.291.390.592.990.2

99.2104.8104.695.699.7

101.6102.6104.8

107.4108.1108.7110.2111.4113.3

114.1115.7115.2116.5117.5117.7

115.9117.3118.6117.5119.6120.3

121.0120.8121.5120.9121.0121.3

99.1102.2103.5105.2105.8107.8

110.5112.5111.3113.1114.9115.8

112.4113.6114.8114.8115.2115.8

115.5115.2116.7115.7116.4118

108.8108.5109.6110.8111.1112.9

112.0114.8114.4114.2115.2115.7

115.1116.2116.9115.7117.0116.7

118.0118.1118.2117.2117.2117

110.9111.0110.7114.5118.0120.2

121.5122.8121.8124.5125.2125.9

124.1125.8126.7126.6130.8132.6

133.2133.2133.7134.0133.6134

108. 3108.9109.4108.8108.4110.1

110.6111.4111.5112.0112.9112.0

111.2111.7113.5112.1112.8112.5

114.2113.8114.7113.5113.9114

102.2101.6101.4101.7101.5101.9

102.2102.7102.4104.4105.2104.7

104.0104.3104.8105.5104.8104.6

106.1105.5105.9105.5105.3102.-3

36.540.843.4

49.556.461.266.871.8

80.287.993.998.1

108.0

115.6122.8132.2

117.6118.2117.7120.2122.5123.0

123.5•125. 0125.7126.5126.7127.3

128.8129.0128.8128.1129.8132.4

133.5132.3133.0133.5134.5135

i Preliminary.


2 1 2


TABLE G—34.—Business expenditures for new plant and equipment^ 1939 and 1945-63

[Billions of doUars]

Year or quarter Total i

M anufacturing

Total

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9515.9611.4312.07

14.4813.6814.80

Dura-ble

goods

0.76

1.593.113.413.482.59

3.145.175.615.655.09

5.447.628.025.475.77

7.186.277.15

Non-durablegoods

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.337.945.966.29

7.307.407.65

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.24.94.99

.99

.981.11

Transportation

Rail-road

0.28

.55

.58

.891.321.35

1.111.471.401.31.85

.921.231.40.75.92

1.03.67.86

Other

0.36

.57

.921.301.28.89

1.211.491.501.561.51

1.601.711.771.502.02

1.941.852.04

"PnVVHr*x UD11Cutili-ties

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.206.095.67

5.685.525.47

Com-mer-cialand

other 2

1939..

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

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

1955-1956-1957-1958..1959-

1960-1961-1962 3

1960: I—.II . . .III..IV..

1961: I—II . _III-.IV..

1962: I_._.II . . .I I I .IV 3

1963: 13._

5.51

8.6914.8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0836.9630.5332.54

35.6834.3737.41


35.1536.3035.9035.50

33.8533.5034.7035.40

35.7036.9538.3538.35

37.70

14.1014.7014.6514.40

13.7513.5013.6514.00

14.2014.4515.0515.50

14.95

7.157.407.356.85

6.506.206.106.40

6.556.957.257.75

7.10

6.957.307.307.55

7.257.307.557.60

7.607.507.807.75

7.85

1.001.051.00.90

.951.001.001.00

1.151.051.101.15

1.15

1.001.101.001.00

.70

.70

.65

.60

.70

.951.00.80

.70

2.002.151.901.80

1.751.801.901.95

2.052.252.001.80

1.80

5.755.705.605.70

5.355.505.655.55

5.155.405.755.40

5.30

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510.409.81

10.88

11.5711.6813.13

11.3511.6011.7511.65

11.3011.0511.8512.35

12.4512.8513.4013.70

13.80

1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Estimates for fourth quarter 1962 and first quarter 1963 based on anticipated capital expenditures re-

ported by business in November 1962. The quarterly anticipations include adjustments, when necessary,for systematic tendencies in anticipatory data.

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

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

213


TABLE C-36.—JVew construction activity, 1929-62[Value put in place, millions of dollars]

Year or month

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, 55657,39961,130

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, 36543,351

Residential building(nonfarm)

Total 2

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, 49924,814

Newhous-

ingunits

3,0401,5701,320

485290380710

1,2101,4751,6202,2702,5603,0401,440

710570720

3,3005,4507,5007,257

11,5259,8499,870

10,55512,07014,99013,53512,61513,55217,116

19,23316,42216,18818,208

Addi-tionsand

altera-tions

340305175105145200250295320295320335375225160220516

1,3071,9602,4672,2002,4002,4902,7872,9553,0133,3763,6953,9033,8624,450

4,9615,1995,1395,344

Nonresidential building and other

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

15,38217,05717,86618,537

construction

Com-mer-cial 3

1,135893454223130173211290387285292348409155

3356

2031,153

9571,3971,1821,4151,4981,1371,7912,2123,2183,6313,5643,5893,914

3,9304,1804,6634,964

In-dus-trial

949532221

74176191158266492232254442801346156208642

1,6891,7021,397

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

2,1062,8512,7592,814

Publicutil-i t y

1,5781,527

946467261326363518705605683771872786570725827

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

5,0085,3235,3895,496

Other*

1,020856582282194194257342444448480508614413335382463

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

4,3384,7035,0555,263

1929193019311932. _.1933_ ._193419351936193719381939194019411942. ._19431944194519461947 . .19481949195019511952195319541955195619571958 _1959New series:

19591960.19611962 6

1961:January . _____FebruaryMarchAprilMayJuneJulyAugustSeptemberOctober __.NovemberDecember

1962:JanuaryFebruaryMarchApril __MayJuneJuly __AugustSeptemberOctoberNovember 6

December 6_

56,24955, 59855,66355,45555, 53157,06157,12558,05458,89659,03760,74459,006

59,16656,71457, 74858, 27960,76462,67862,08462,82962,35863,51762,63762,417

Seasonally adjusted annual rates (New series 6)

38, 57537,96238, 51138, 98639,23240,32841,17641, 28141, 70941,76742,04441,881

41,07739,90940, 55341, 74743, 47244,84244,90845,24444,97643,84343,89844,045

20,64920,01620,50821,04221, 25722, 27123,11823,30623, 78224,02624, 50424, 440

23,18722, 24522, 50723,48425,01826,11825, 98725, 95725,81325,01325,32625,611

14, 59413, 96314,41715,07115,34315,97816,60016,87917,11617,43817, 72317, 692

16,77116,02816,27617,28518, 49719, 26819,15319,18618,97418,46318,48618,703

4,9574,9004,9204,7704,7045,1245,3525,2405,4605,3775,6185,642

5,2404,9975,0084,9585,2575,5585,5145,4465,5395,2485,5805,708

17,92617,94618,00317,94417.97518,05718,05817, 97517,92717, 74117, 54017, 441

17,89017,66418,04618, 26318,45418, 72418, 92119,28719,16318,83018,57218,434

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

4,9284,7564,7954,7934,7524,8655,1105,2735,2145,0184,9674,979

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

2,5902,5922,6532,7922,8862,9502,9622,9362,9302,8852,8202,788

5,3085,3845,3985,3235,3835,3825,4575,4705,4225,4045,3805,337

5,3575,2745,4495,3885,4815,5395,4445,6265,5485,5755,5705,576

4,7174,7494,9055,0645,2285,4155,3515,2715,1775,0484,9984,926

5,0155,0425,1495,2905,3355,3705,4055,4525,4715,3525,2155,091

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 C-l.)2 Total includes nonhousekeeping units, not shown separately.

' Office buildings, warehouses, stores, restaurants, and garages.* Farm, institutional, and all other.5 New series beginning January 1959 not entirely comparable with prior data. In addition to major

differences between old and new series, data for Alaska and Hawaii are included beginning January 1959.For details, see Construction Activity, C30-25 (Supplement), July 1961, Bureau of the Census.6 Preliminary.

Source: Department of Commerce.

214


TABLE C-37.—New public construction activity•, 1929-62

[Value put in place, millions of dollars]

Year

Total new public construction *

Allpublicsources

Federal

Direct Federalaid

Stateandlocal

Major types of new public construction

High-way

Educa-tional

Hos-pitaland

institu-tional

Sewerand

waterand

miscel-laneouspublicservice

Con-serva-tionandde-

velop-ment

Mili-tary

facili-ties

Allother

publics

1929.

1930.1931.1932.1933.1934.

19351936193719381939.-.-

1940..1941.1942.1943.1944.

1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.

19551956....1957-.-.19581959 3

I960. . . .19611962 4

2,486

2,8582,6591,8621,6482,211

2,2333,5163,0963,4203,809

3,6285,751

10,6606,3223,073

2,3982,2313,3194,704

9,25310,78111,23611,678

11, 72412,74814,07915,45716,211

15,95317,03417,779

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

3,6653,7953,883

80

104235111286721

5671,5661,1171,3201,377

946697475268126

99244409417461

462481626687728

790896

1,3142,1302,790

2,4532,4952,642

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

9,83510,74411,254

1,266

1, 5161,355958847

1,000

8451,3621,2261,4211,381

1,3021,066734446362

398764

1,3441,6612,015

2,1342,3532,6793,0153,680

3,8614,4314,9545,5455,870

5,4645,8186,268

389

36428513052

148

153366253311468

1561581286341

59101287618934

1,1331,5131,6191,7142,134

2,4422,5562,8252,8752,656

2,8183,0512,983

101

118110834951

38747397127

5442354458

858577213458

499527495

300300354390428

400370397

404

500479291160228

246509445492507

393254156125

152278492

819959958

1,0501,171

1,3181,6591,7371,8382,018

2,1362,1662,233

115

137156150359

700658605551570

528500357285163

130260424670852

942912900892773

701826971

1,0191,130

1,2211,3501,545

19

2940343647

37293762125

3851,6205,0162,550837

188204158137

177887

1,3871,2901,003

1,2871,3601,2871,4021,488

1,3861,3681,282

192

104234216145219

214518457486631

7341,9724,1362,7781,487

884555491685

1,070

1,1622,1022,7432,9062,584

1,8151,6161,9512,3882,621

2,5282,9113,071

1 For expenditures classified by ownership, combine "Federal aid" and "State and local"obtain State and local ownership. "Direct" column stands as it ii

' columns to' column stands as it is for Federal ownership.2 Includes nonresidential buildings (other than educational and hospital and institutional), residential

buildings, and miscellaneous public construction such as parks and playgrounds, memorials, etc.3 Beginning with 1959, data include estimates for Alaska and Hawaii. Comparability with earlier data

is not seriously affected since these two States accounted for less than two-thirds of one percent of total newpublic construction in 1959.4 Preliminary.


215


TABLE C—38.—New housing starts and applications for financing, 1929—62

[Thousands of units]

Year ormonth

1929

1930. . . .1931193219331934

19351936193719381939

19401941194219431944 . .

194519461947..19481949

195019511952 .19531954

195519561957. . . .19581959

195919601961 _.19626-.

Housing starts

Total>rivateand

public(in-

clud-ing

farm)1

: : : : : : :

. . . . . . .

1, 553. 51, 296. 01,365.01,483.3

Totalprivate

(in-clud-ing

farm)

: : : : : : :

""(*)""

1, 516.81, 252.11,313.01,454. 7

Pri-vateand

publicnon-farm

509.0

330.0254.0134.093.0

126.0

221.0319.0336.0406.0515.0

602.6706.1356.0191.0141.8

209 3670 5849.0931.6

1,025.1

1,396.01 091 31,127.01,103.81, 220.4

1,328. 91,118.11,041. 91,209.41,378. 5

(*)

1, 531.31, 274.01,336.81,459. 5

Private nonfarm

l

Total i

509.0

330.0254.0134.093.0

126.0

215.7304.2332.4399.3458.4

529.6619.5301.2183.7138.7

208.1662 5845.6913.5988.8

1,352. 21 020.11,068. 51,068.31, 201. 7

1, 309. 51,093. 9

992.81,141. 51,342.8

(*)

1,494. 61,230.11, 284.81,430.9

One-family

316.0

227.0187.0118.076.0

109.0

182.2238.5265.8316.4373.0

447.6533.2252.3136.3114.6

184 6590 0740.2763.2792.4

1,150. 7892 2939.1932.8

1,077. 3

1,190.0980.7840.2932.5

1,078. 5(*)

1, 211. 7972.3946.4973.5

Twoor

morefami-lies

193.0

103.067.016.017.017.0

33.565.766.682.985.4

82.086.348.947.424.1

23 572 5

105.4150.3196.4

201.5127 9129.4135.5124.4

119.5113.2152.6209.0264.3(*)

282.9257.4338.6451.5

Totalprivate

(in-clud-ing

farm)

: : : : : : :

- - - - - -

1, 516.81, 252.11,313.01,454. 7

Private nonfarm

Total

509.0

330.0254.0134.093.0

126.0

215.7304.2332.4399.3458.4

529.6619.5301.2183.7138.7

208.1662 5845.6913.5988.8

1,352.21,020.11,068.51,068.31, 201. 7

1,309. 51,093. 9

992.81,141. 51, 342. 8

(*)

1,494.61, 230.11, 284.81,430.9

Govern-ment

programs

FHA

14.049.460.0

118.7158.1

180.1220.4165.7146.293.3

41.269 0

229.0294.1363.8

486.7263 5279.9252.0276.3

276.7189.3168.4295. 4332.5

332.5260.9244.3260.9

VA

91 8160.371.190.8

191.2148.6141.3156 5307.0

392.9270.7128.3102.1109.3

109.374.683.377.8

Newprivatehous-ing

unitsau-

thor-ized

1,056. 5

1,152. 6921.9820.3950.8

1,081.1(*)

1,208.3997.6

1,064. 21,170.0

Prophomestruc

plica-tionsfor

FHAcom-mit-

ments

3 20.647.849.8

131.1179.8

231.2288.5238.5144.462.9

56 6121 7286.4293.2327.0

397 7192 8267.9253.7338.6

306.2197.7198.8341.7369.7

369.7242.4243.8221.1

osed

tion2

Re-quests

forVAap-

prais-als

/5\(5)(5)(5)

(S)164 4226.3251.4535.4

620.8401.5159.4234.2234.0

234.0142.9177.8171.2


216


TABLE G—38.—New housing starts and applications for financing, 1929-62—Continued

[Thousands of units]

Year ormonth

1961:January. __February..MarchAprilMayJune

JulyAugustSeptember-OctoberNovember.December.

1962:JanuaryFebruary..MarchAprilMayJune

JulyAugustSeptember.October «._November8

December 8

Housing starts

Totalprivate

andpublic

(in-clud-ing

farm) 1

73.179.3

109.3117.1131.6140.6

129.9130.3131.2129.9106.186.6

83.077.8

117.9151.6156.4139.5

139.3147.8115.3136.3122.396.1

Totalprivate

(in-clud-ing

farm)

70.474.1

104.2112.8127.6134.8

126.6127.1125.4124.8103.082.2

80.676.4

115.4147.0154.2136.2

135.8146.1113.6133.5120.795.2

Pri-vateand

publicnon-farm

71.676.0

106.9114.8129.2137.6

127.4127.5129.5127.4104.484.5

81.776.7

116.3149.5154.9137.0

137.4144.7112.7132.5121.195.0

Private nonfarm

Total i

68.970.8

101.8110.5125.2131.8

124.1124.3123.7122.3101.380.1

79.375.3

113.8144.9152.7133.7

133.9143.0111.0129.5119.594.1

One-family

49.151.575.383.195.298.7

94.791.790.990.172.753.4

53.152.678.098.9

105.793.4

93.397.973.488.4

Twoor

morefami-lies

19.819.426.527.430.0oo o

29.432.632.832.228.526.8

26.222.735.846.047.040.2

40.645.037.641.1

Totalprivate

(in-clud-ing

farm)

Private nonfarm

Total

Govern-ment pro-

grams

F H A VA

Newprivatehous-ing

unitsau-

thor-ized

Proposedhome con-struction 2

Ap-plica-tionsfor

F H Acom-mit-

ments

rte-Quests

fnriorVAap-

prais-


1,1371,1411,2921,1851,3011,407

1,3581,3281,4151,4431,3681,295

1,2731,1521,4311,5421,5791,425

1,4661,5291,2891,5501,5911,499

1,1081,0871,2581,1621,2781,376

1,3331,3031,3971,4131,3451,255

1,2471,1341,4071,5211,5661,399

1,4471,5001,2611,5041,5761,479

194186201194192192

188196201222202219

214228216230202186

203190178178181177

859488788777

787677928590

669688968976

757270707174

973974

1,0051,0071,0131,063

1,0721,1021,0611,1231,1181,215

1,1351,2361,1511,2291,1281,137

1,1601,1231,1741,1751,197

221218223223230225

233238222272265299

227239246240233212

219197189212206202

151165189189139168

166166196213216205

198165212168168147

179148160178170175

1 Military housing starts, including those financed with mortgages insured by FHA under Section 803of the National Housing Act, are included in publicly financed starts but excluded from total 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.* Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.«Not available.8 Preliminary; annual data for 1962 partly estimated by Council of Economic Advisers.*New series; see Housing Starts, C20-11 (Supplement), Bureau of the Census, May 1960, for description.NOTE.—Census series beginning with the new series in 1959 and the data for VA programs include Alaska

and Hawaii. FHA data include Alaska, Hawaii, and Puerto Rico.

Sources: Department of Commerce, Federal Housing Administration (FHA), and Veterans Adminis-tration (VA), except as noted.

217


TABLE G—39.—Sales and inventories in manufacturing and trade, 7939—62

[Amounts in billions of dollars]

Year or month

1939

19401941..194219431944..

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

195019511952..19531954..

1955..1956..19571958..1959

1960 »1961 8

1962 1

1961:JanuaryFebruary. _.MarchAprilMayJune

JulyAugustSeptember-OctoberNovember..December-.

1962:JanuaryFebruary. . .MarchAprilMayJ u n e . . .

JulyAugustSeptember..OctoberNovember8

December 8.

Total manufactur-ing and trade 1

Sales a

10.80

12.1315.8118.6221.9223.79

23.8527.0133.0336.3134.78

39.9744.7245.9448.4147.36

52.2854.8056.3254.0259.98

61.0461.5265.90

Inven-tories3

58.6759.2460.2160.0861.5261.82

61.6362.3661.5763.2064.4063.94

63.9664.5465.2566.1466.3265.18

66.4366.0166.7866.5067.65

20.05

22.1828.7831.0931.3431.06

30.8942.7250.2455.5751.92

62.9073.5774.8477.3974.30

80.5888.6890.8085.4690.61

94.1395.5498.44

Ratio *

1.77

1.721.581.661.401.33

1.301.331.431.471.55

1.381.581.601.591.59

1.471.551.601.611.48

1.541.521.48

Manufacturing

Sales2

5.11

5.868.17

10.4312.8213.78

12.8712.6215.9217.6316.42

19.2822.3122.8524.5223.53

26.3427.7128.3826.2329.74

30.4130.7333.49

Inven-tories3

11.46

12.8216.9619.2920.1019.51

18.3924.4628.8731.6928.86

34.3142.8243.8045.4342.98

46.3652.3053.5249.1852.43

53.7455.2057.13

Ratio *

2.11

2.061.781.771.511.45

1.481.661.711.721.86

1.571.771.901.841.86

1.681.791.891.93l."72

1.791.751.69

Wholesale trade i

2.19

2.413.033.433.834.15

4.4815.666.917.557.21

8.429.379.569.819.73

10.6211.2711.2711.0912.29

12.3312.5613.13

Inven-tories3

3.05

3.244.043.783.683.91

4.6616.207.127.877.59

9.129.71

10.0110.4710.39

11.4412.9512.7111.9912.65

13.2113.4813.84

Ratio

1.34

1.301.201.19.97.94

.91

.901.001.011.07

1.051.011.061.07

1.021.081.141.101.00

1.051.071.05

Retail trade i

Sales 2

3.50

3.864.614.775.275.85

6.5018.7310.2011.1411.15

12.2713.0513.5314.0914.10

15.3215.8116.6716.7017.95

18.2918.2319.28

Inven-tories3

5.53

6.127.788.027.567.64

7.95112.06

14.2416.Q115.47

19.4621.0521.0321.4920.93

22.7723.4324.5724.2925.54

27.1826.8627.46

Ratio 4

1.53

1.491.481.761.431.31

1.21.1.131.261.391.41

1.381.631.521.531.51

.43

.47

.44

.43

.39

.4545

.40

Seasonally adjusted

93.6593.3892.6693.0093.0693.09

93.4693.6294.2694.6295.1295.54

96.1796.7097.0597.2697.5297.88

98.1597.9098.3898.7098.44

1.601.581.541.551.511.51

1.521.501.531.501.48

•1.49

1.501.501.491.471.471.50

1.481.481.471.481.46

28.6729.0329.5530.0930.7330.85

31.1131.3831.3631.7532.1832.40

32.0432.8533.2233.4833.5032.96

33.4033.2933.6833.4834.00

53.6753.6053.3153.3853.3753.36

53.5554.0354.4454.7855.0355.20

55.7356.1856.5756.6956.8156.91

57.0056.975V. 1957.2757.13

.74

.71

.70

.69

.70

.73

.71

.71

.701.711.68

12.2312.4312.5412.1312.8012.78

12.5012.8012.0812.8713.1212.72

13.0812.7312.7613.0613.3813.13

13.3513.1613.4813.2713.46

13.1513.2113.2813.4513.4613.50

13.5813.6013.4813.4413.3413.48

13.5813.6213.7013.7013.7813.89

13.9713.8813.9514.0313.84

0617.7717.7918.1217.8517.9818.19

18.0218.1718.1318.5819.1018.83

18.8418.9619.2719.6019.4319.09

19.6819.5719.6219.7420.1920.24

26.8326.5726.0726.1826.2326.22

26.3425.9826.3426.4026.7526.86

26.8626.9026.7826.8726.9427.08

27.1827.0527.2427.4027.46

1.511.491.441.471.461.44

1.461.431.451.421.401.43

1.431.42.39.37.39.42

.38

.391.391.36

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.6 Beginning January 1960, retail sales and inventories include data for Alaska and Hawaii.6 Beginning January 1961, wholesale sales and inventories include data for Alaska and Hawaii.i Where December data not available, data for year calculated on basis of no change from November.s Preliminary.NOTE.—The inventory figures in this table do not agree with the estimates of change in business

inventories included in the gross national product since these figures cover only manufacturing and traderather than all business, and show inventories in terms of current book value without adjustment forrevaluation.


218


TABLE C-40.—Manufacturers'1 sales, inventories, and orders, 1939-62


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—.1962 4 5

1961:JanuaryFebruary...MarchAprilMayJune


1962:JanuaryFebruary._MarchAprilMayJune

JulyAugustSeptember.OctoberNovember5

December5.

Sales i

Dura-ble

goodsindus-tries

1.95

2.473.805.166.867.34

6.274.996.707.597.07

8.8010.3810.9412.3811.24

13.0813.8014.1612.3814.51

14.6814.5416.25

Non-durablegoodsindus-tries

13.1713.3213.6914.1414.5714.67

14.7815.0414.9515.2715.6215.66

15.5015.9516.3316.4016.4015.89

16.3316.3516.3416.3416.5416.45

Pur-chasedmate-rials

3.16

3.394.375.275.966.45

6.607.639.22

10.049.35

10.4811.9311.9212.1412.29

13.2613.9114.2213.8515.23

15.7316.1817.11

Inventories 2

Durable goodsindustries

Goodsin

process

1.76

2.063.113.683.863.34

3.164.505.135.604.59

6.097.387.287.416.49

7.428.668.317.528.30

8.058.098.12

1.48

1.983.164.585.235.03

3.514.645.205.394.70

6.008.63

10.1710.739.84

11.0912.7812.7311.3112.08

12.0612.6413.30

Fin-ishedgoods

Pur-chasedmate-rials

2.09

2.262.332.192.082.06

2.102.853.974.744.68

4.686.796.958.107.75

8.169.22

10.118.999.71

10.7610.7411.18

Nondurable goodsindustries

2.44

2.654.004.314.534.64

4.926.447.157.276.50

8.439.088.578.147.89

8.128.538.798.558.95

8.759.069.46

Goodsin

process goods

.81

1.151.271.331.38

1.491.792.192.252.09

2.532.722.712.652.60

2.762.963.063.003.03

3.083.373.53

TotalFin-ished

2.88

2.983.203.273.063.05

3.214.235.246.446.29

6.588.218.108.408.41

8.8210.1510.529.81

10.36

11.0511.2911.53

New orders l

5.35

6.819.80

13.3412.7011.91

10.5313.6915.6217.3515.90

20.9824.5123.5823.1122.48

27.1728.3227.2625.9030.13

29.9030.9633.22

Dura-ble

goodsindus-tries


2.17

3.375.328.056.775.47

3.945.946.367.486.59

10.3212.6811.6911.0310.16

13.8514.4413.0812.0414.85

14.2414.7416.12

Seasonally adjusted

15.5015.7115.8615.9616.1616.18

16.3316.3416.4016.4816.5616.74

16.5416.8916.8917.0817.1017.08

17.0816.9317.3417.1417.46

8.038.017.917.817.787.60

7.707.747.968.078.088.09

8.328.408.558.598.628.55

8.498.458.418.268.12

12.0712.0511.9011.8711.9112.03

12.0712.3112.4012.5912.7012.64

12.6412.8912.9712.9413.0013.02

13.1013.1513.2613.3413.30

10.6510.5910.4910.4710.4710.57

10.6010.7510.7410.7410.7610.74

10.9310.9010.8910.9510.9611.01

11.0411.0911.0611.1611.18

8.748.688.788.888.978.97

8.948.978.908.969.06

9.269.359.459.499.479.46

9.399.299.339.419.46

3.073.043.053.123.203.25

3.313.313.293.343.373.37

3.383.403.433.433.443.47

3.513.503.523.543.53

11.1011.2311.1811.2211.0510.94

10.9110.9711.0711.1411.1711.29

11.2011.2411.2811.3011.3211.41

11.4611.4811.5911.5711.53

28.50i.ll

29.8530.4131.0431.05

31.2832.1032.2032.6332.7032.85

32.9433.0832.9532.7333.0732.43

33.2632.8333.2333.8234.04

12.8813.3613.8214.3814.7914.90

15.0215.6315.7416.0716.1016.24

16.4316.1916.0015.7315.9715.44

16.2715.9115.8916.5716.5716.00

3.19

3.434.485.305.936.43

6.597.759.269.879.31

10.6611.8411.9012.0812.32

13.3213.8814.1713.8615.28

15.6616.2317.09

15.6215.7616.0316.0316.2516.15

16.2716.4616.4716.5616.6016.61

16.5116.8916.9517.0017.1016.99

16.9816.9217.3417.2517.47

Un-filled

orders(unad-just-ed) 3

7.02

18.3737.9572.9371.5349.03

20.9333.8430.3026.9520.78

41.1367.5576.3459.5046.90

56.8664.2150.7046.8051.49

45.3748.2046.13

45.2745.5245.5945. 8345.8045.95

46.8247.2447.4047.5447.8048.20

48.9749.4649.2048.4847.8147.45

48.0947.4346.8246.5046.13

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

NOTE.—See Table C-39 for total sales and inventories of manufacturers.


219


PRICES

TABLE C-41.—Wholesale price indexes, 1929-62

[1957-59=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.

I960-.1961...1962 6.

1961: January __February.MarchAprilMayJune

JulyAugustSeptember-OctoberNovember..December..

1962: January. _February.MarchAprilMayJune

JulyAugustSeptember—OctoberNovember. -December 6_

52.1

47.339.935.636.141.0

43.844.247.243.042.2

43.047.854.056.556.9

57.966.181.287.983.5

86.896.794.092.792.9

93.296.299.0

100.4100.6

100.7100.3100.6

101.0101.0101.0100.5100.099.5

99.9100.1100.0100.0100.0100.4

100.8100.7100.7100.4100.2100.0

100.4100.5101.2100.6100.7100.4

63.9

54.039.629.431.339.9

48.049.452.741.939.9

41.350.164.674.875.3

78.390.6

109.1117.1101.3

106.4123.8116. 8105.9104.4

97.996.699.2

103.697.2

96.996.097.7

97.998.398.196.694.892.9

95.196.795.295.195.695.9

97.998.298.496.996.295.3

96.597.6

100.698.799.397.3

54.3

49.541.633.933.7

48.346.448.642.340.2

40.446.754.857.256.0

56.471.791.198.4

92.6103.3100.997.097.6

94.394.397.9

102.999.2

100.0100.7101.2

102.0102.6101.7100.999.899.0

99.9100.4100.3100.5100.2101.0

102.0101.8101.6100.299.699.8

100.8101.5103.3101.5101.3100.9

51.7

48.142.439.740.244.2

44.044.948.146.146.0

46.850.353.954.755.6

56.361.775.381.780.0

82.991.589.490.190.4

92.496.599.299.5

101.3

101.3100.8100.8

101.2101.2101.2101.1100.8100.6

100.6100.6100.7100.5100; 7100.9

101.0100.8100.8100.9100.9100.7

100.8100.6100.8100.7100.7100.7

67.8

60.349.841.248.654.7

53.353.757.350.152.3

55.463.772.873.173.9

75.187.3105.7110.3100.9

104.8116.9105.5102.8100.6

100.7100.7100.898.9

100.4

101.599.7

100.6

100.2100.199.799.499.399.0

99.299.599.7

100.1100.2100.3

100.3100.4100.5100.5100.7100.8

100.9100.8100.6100.5100.5100.6

()46.648.8

50.951.253.651.050.7

51.656.162.363.163.8

64.269.492.294.486.2

87.5100.195.096.197.3

96.997.599.6

100.4100.0

100.299.197.5

99.7100.0100.1100.299.999.4

99.098.698.398.298.198.1

98.498.198.097.997.797.6

97.297.096.997.197.096.8

57.6

50.442.837.139.045.5

45.849.458.157.159.3

55.359.669.471.370.4

68.368.668.370.568.3

83.2102.192.586.387.6

99.2100.6100.2100.199.7

96.193.3

96.496.396.596.796.8

95.996.296.396.295.594.5

94.193.593.692.993.293.0

92.792.792.893.193.794.4


220


TABLE C-41.—Wholesale price indexes, 1929-62—Continued

[1957-59=100] i

Year or month

1929

19301931193219331934

19351936193719381939 -

19401941194219431944

1945194619471948 ,1949

19501951195219531954

1955195619571958 - .1959

196019611962 8

1961: JanuaryFebruary._MarchAprilMayJune

JulyAugustSeptember.OctoberNovember..December..


JulyAugustSeptember..OctoberNovember..December o_.

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

Hides,skins,

leather,and

leatherprod-ucts

56.6

52.044.738.042.044.9

46.549.554.348.249.6

52.356.161.161.060.5

61.370.796.597.592.5

99.9114.892.894.189.9

89.594.894.996.0

109.1

105.2106.2107.4

103.4103.1104.5104.9105.7105.1

106.1108.0108.4108.9108.6108.2

108.2107.7107.4106.9107.2108.0

107.5107.0107.5107.4107.3106.8

Fueland

relatedprod-ucts,and

power 2

61.5

58.250.052.149.354.3

54.556.557.566.654.2

53.256.658.259.961.6

62.366.779.793.889.3

90.293.593.395.994.6

94.597.4

102.798.798.7

100.7100.2

102.6103.1102.9100.999.5

100.1

100.4100.299.699.099.8

100.6

101.0100.498.9

100.299.799.6

100.099.5

100.8100.8100.8100.9

Pulp,paper,

andalliedprod-ucts

Metalsand

metalprod-ucts

44.1

39.735.732.833.637.1

37.037.843.241.641.2

41.442.242.842.742.7

43.448.560.268.569.0

72.780.981.083.684.3

90.097.899.799.1

101.2

101.3100.7100.0

100.3100.4100.4100.6100.8100.9

100.9101.2101.3100.9100.4100.6

100.7100.6100,4100.3100.299.8

99.799.899.799.499.399.4

Machin-ery andmotiveprod-ucts

(*)

()

()43.7

44.245.847.747.447.4

47.853.661.867.571.2

72.679.581.282.283.2

85.892.197.7

100.1102.2

102.4102.3102.3

102.6102.5102.5102.3102.3102.4

102.2102.0102.0102.1102.2102.2

102.3102.3102.3102.3102.3102.4

102.3102.3102.3102.2102.2102.1

Furni-tureand

otherhouse-holddura-bles

56.4

55.551.145.045.149.0

48.649.354.753.453.2

54.457.862.562.163.8

63.967.877.882.583.8

85.692.891.192.993.9

94.396.999.4

100.2100.4

100.199.598.8

99.599.499.4

99.599.399.499.499.599.3

99.399.199.098.999.0

98.898.798.698.598.698.5

Nonme-tallic

mineralprod-ucts 3

Tobaccoproducts

andbottledbever-

53.4

53.249.746.549.252.6

52.652.753.952.251.2

51.252.454.554.755.8

58.161.869.174.776.7

78.683.583.586.988.8

91.395.298.999.9

101.2

101.4101.8101.8

101.8101.7101.9101.9101.8101.6

101.7101.8101.8102.1101.9101.6

101.9102.1102.2102.4102.1101.9

101.6101.6101.5101.6101.6101.5

67.4

67.867.263.356.659.2

59.159.059.559.459.4

60.160.861.564.664.9

66.769.875.678.279.6

80.585.187.089.893.8

94.695.198.099.7

102.2

102.5103.2104.1

102.8102.8102.8102.7102.8102.8

103.1103.3103.8103.8103.8103.8

103.8103.8104.0104.0104.1104.1

104.01Q4. 2104.2104.5104.5104.3

Miscel-laneousprod-ucts

()108.7111.2103.5

104.1113.1116.7105.4110.5

99.198.196.6

101.5101.9

99.3103.9107.3

103.0102.6104.3105.3107.2103.4

103.0103.0103.0100.7105.1106.3

106.7105.6105.6106.0106.0105.4

107.6107.2109.1108.7109.8110.2

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."* Formerly titled "Tobacco manufactures and bottled beverages."fi Not available. « Preliminary.


221


TABLE C-42.—Wholesale price indexes, by stage of processing, 1947-62

[1957-59=100]

Year ormonth

Allcom-modi-ties

Crude materials

Total

100.8110.595.6

104.2119.6109.9101.5100.6

96.797.299.4

101.699.0

96.696.197.1

96.997.397.496.895.393.7

94.897.096.095.995.496.4

97.897.597.696.595.895.2

96.597.299.297.497.696.8

Food-stuffsandfeed-stuffs

113.0122.2101.5

108.9126.0118.6106.2106.2

96.294.298.4

104.297.4

96.294.996.8

98.098.297.596.293.891.5

92.995.593.693.393.795.0

96.796.396.995.594.794.0

96.097.4

100.697.998.297.1

Non-foodma-

terials,exce

fue

86.96.87.

100.115.

99.

525

039

95.693.

99.

8

1102.8101.97.

101.

96.97.97.

94.94.96.97.97.97.

98.99

1001009898

99

460

894

095897

362447

599.398.798.39797

97

93

096.69696

30

95.995.8

Fuel

Intermediate materials, supplies, and components *

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

19471948-1949

19501951195219531954

195519561957. __..1958....1959 _.

1960 . . . . .19611962*

1961:JanuaryFebruary. . .MarchApri l . . •____.MayJune

JulyAugustSeptember..OctoberNovember..December-.

1962:JanuaryFebruary.. .MarchAprilMayJune

July..AugustSeptember..OctoberNovember.December 4

81.287.983.5

96.794.092.792.9

93.296.299.0

100.4100.6

100.7100.3100.6

101.0101.0101.0100.5100.099.5

100.1100.0100.0100.0100.4

100.8100.7100.7100.4100.2100.0

100.4100.5101.2100.6100.7100.4

73.687.086.5

86.187.788.391.487.3

87.193.3

101.6

102.5102.3101.8

104.5104.9104.4101.5100.799.8

100.4101.0101.5102.7102.9102.7

102.7104.0103.199.799.698.7

101.0100.6102.0103.2103.4103.9

76.582.779.4

83.093.090.390.891.3

93.097.199.499.6

101.0

101.0100.3100.2

100.7100.7100.9100.9100.4100.0

99.9

99.7100.0100.3

100.3100.2100.3100.5100.4100.2

100.3100.1100.2100.1100.1100.1

75.581.578.0

81.892.788.890.290.4

92.696.999.399.7

101.0

101.099.899.2

100.1100.1100.2100.2100.199.8

99.599.599.599.599.499.5

99.599.499.599.499.399.3

99.299.199.098.998.898.7

102.6105.891.0

94.7105.5101.4101.6100.7

97.597.999.7

102.0

99.5102.6100. 5

102.7103.8104.1103.9103.2102.3

101.9101.7101.6102.0101.7102.0

102.2101.9101.5100.499.699.5

99.499.8

100.4100.8100.2

94.099.590.7

95.2110.399.398.596.9

97.398.8

100.199.1

100.8

100.898.698.0

99.499.3

99.399.0

98.198.298.098.198.198.1

98.498.298.398.598.4

98.197.897.797.697.497.3

58.866.468.2

72.180.180.383.985.7

90.095.798.899.5

101.8

101.9100.5100.4

100.2100.1100.1100.3100.5100.5

100.7100.8100.8100.5100.4100.5

100.3100.4100.6100.7100.7100.6

100.6100.5100.4100.1100.1100.0

63.068.069.3

71.981.681.883.383.7

87.495.499.199.9

101.1

100.699.698.8

100.2100.2100.299.7

99.299.199.299.299.3

99.199.099.198.998.8

98.798.798.798.698.698.5

77.077.2

81.288.888.289.790.1

93.798.599.199.1

101.8

101.199.799.4

0.7

100.1100.0100.0

99.999.699.699.399.399.3

99.299.499.799.899.799.5

99.399.399.299.199.0


222


T A B L E C-42.—Wholesale price indexes, by stage of processing, 1947-4)2—Continued

[1957-59= 100]

Year or month

Finished goods

Total

Consumer finished goods

Total Foods

Othernon-

durablegoods

Du-rablegoods

Pro-ducer

finishedgoods

Special groups of industrialproducts

Crudemate-rials 2

Inter-mediate

materials,supplies,and com-ponents 3

Con-sumer

finishedgoods ex-

cludingfoods

194719481949

19501951195219531954

19551956195719581959

I960.—196119624

1961: JanuaryFebruary...MarchAprilMayJune

JulyAugustSeptember.OctoberNovember.December..

1962: JanuaryFebrua ry -March.AprilMayJune

JulyAugustSeptember.OctoberNovember.December4.

80.186.484.0

85.593.693.092.192.3

92.595.198.6

100.8100.6

101.4101.4101.7

102.2102.3102.0101.2100.7100.7

101.2101.3101.2101.2101.3101.5

102.1102.1101.8101.4101.2101.1

101.5101.7102.6101.9102.0101.6

86.192.688.3

89.898.297.095.495.3

94.796.198.9

101.0100.1

101.1100.9101.2

101.9102.2101.7100.8100.1100.0

100.7100.8100.7100.7100.7100.9

101.7101.7101.3100.7100.5100.4

100.8101.1102.3101.5101.5101.0

90.799.091.0

92.8104.2103. 397.997.1

94.794.597.8

103.598.7

100.8100.4101. 3

102.1102.5101.6100.098.998.3

100.0100.3100.1100.2100.0100.2

101.9102.3101.9100.199.599.3

100.3101.3103.9101.9102.1100.7

86.592.088.2

89.696.594.195.095.3

95.897.799.999.3

100.8

101.5101.5101.6

102.1102.4102.2101.5100.9101.2

101.2101.3101.2101.2101.4101.8

102.0101.8101.3101.6101.5101.4

101.5101.4101.7101.8101.7101.8

75.981.183.2

84.189.790.491.191.8

92.895.998.7

100.1101.3

100.9100.5100.0

100.7100.6100.5100. 5.100.5100.6

100.6100.5100.5100.3100.4100.3

100.2100.1100.099.9

100.0100.0

100.2100.1100.199.9

100.0

61.867.470.7

72.479.580.882.183.1

85.692.097.7

100.2102.1

102.3102.5102.9

102.6102.5102.5102.4102.4102.5

102.5102.5102.5102.6102.7102.7

102.8102.8102.8102.9102.9102.8

103.0103.0102.9102.8102.9102.8

79.292.584.0

93.6102.993.192.488.0

102.3100.996.9

102.3

98.397.295.6

94.895.596.596.596.5

97.598.799.299.797.297.2

98.598.297.195.895.394.4

94.494.895.194.894.694.7

73.479.877.8

81.491.288.389.4

92.597.099.699.4

101.0

101.4100.1

100.7100.6100.6100.5100.0

99.799.999.8

100.099.9

100.0100.3100.2100.1

100.0

83.188.486.5

87.894.292.993.794.1

94.897.199.599.6

100.9

101.3101.2101.0

101.7101.7101.6101.1100.7100.9

101.0101.0101.0100.9101.1101.2

101.3101.1100.8101.0101.0101.0

101.0100.9101.1101.1101.1101.1

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.* Preliminary.NOTE.—For a listing of the commodities included in each sector, see Table 7B, Wholesale Prices and

Price Indexes, 1958 (BLS Bulletin 1257).


223


TABLE G—43.—Consumer price indexes, by major groups, 1929—62

For city wage-earner and clerical-worker families

[1957-59=100]

Year or month Allitems

59.7

58.253.047.645.146.6

47.848.350.049.148.4

48.851.356.860.361.3

62.768.077.883.883.0

83.890.592.593.293.6

93.394.798.0

100.7101.5

103.1104.2105.4

103.8103.9103.9103.9103.8104.0

104.4104.3104.6104.6104.6104.5

104.5104.8105.0105.2105.2105. a

105.5105.5106.1106.0106.0

Food

55.6

52.943.636.335.339.3

42.142.544.241.039.9

40.544.251.957.957.1

58.466.981.388.284.7

85.895.497.195.695.4

94.094.797.8

101.9100.3

101.4102.6103.6

102.8102.9102.7102.7102.3102.5

103.4102.7102.6102.5101.9102.0

102.5103.1103.2103.4103.2103.5

103.8103.8104.8104.3104.1

Housing

Total

0)

0)C1)0)0)(9

56.357.159.160.159.7

59.961.464.264.966.4

67.569.374.579.881.0

83.288.289.992.393.4

94.195.598.5

100.2101.3

103.1103.9104.8

103.8103.8103.9103.8103.7103.8

103.8103.8104.0104.1104.2104.4

104.4104.6104.6104.6104.7104.8

104.8104.8104.9105.0105.1

Rent

85.4

83.178.770.660.857.0

56.958.360.962.963.0

63.264.365.765.765.9

66.166.568.773.276.4

79.182.385.790.393.5

94.896.598.3

100.1101.6

103.1104.4105.6

103.9104.1104.1104.2104.3104.4

104.4104.4104.7104.8104.9105.0

105.1105.2105.3105.4105.5105.6

105.7105.8105.9106.1106.2

Ap-parel

56.2

54.950.044.342.846.8

47.247.650.149.849.0

49.651.960.563.267.7

71.278.190.696.592.7

91.599.798.797.897.3

96.798.499.799.8

100.7

102.1102.8103.1

102.1102.2102.4102.1102.2102.2

102.5102.5103.6103.9103.7103.5

101.8102.0102.7102.7102.7102.8

102.9102.5104.6104.9104.3

Trans-porta-tion

0)

0)0)0)0)0)

49.449.850.651.049.8

49.551.255.755.555.5

55.458.364.371.677.0

79.084.089.692.190.8

89.791.396.599.7

103.8

103.8105.0107.1

103.8103.8103.4103.5104.0104.8

105.3106.0106.0106.7106.8106.0

106.0106.0105.9107.2107.3107.3

106.8107.4107.8108.1108.3

Medi-cal

care

(0

0)0)0)0)0)

49.449.650.050.250.2

50.350.652.054.556.2

57.560.765.769.872.0

73.476.981.183.986.6

88.691.895.5

100.1104.4

108.1111.3114.1

109.7110.3110.4110.7111.0111.3

111.6111.7111.9112.3112.4112.5

112.6113.0113.6113.9114.1114.4

114.6114.6114.7114.9115.0

Per-sonalcare

0)

0)C1)0)(00)

42.643.245.746.746.5

46.447.652.257.661.7

63.668.276.279.178.9

78.986.387.388.188.5

90.093.797.1

100.4102.4

104.1104.6106.4

104.4104.4104.3104.4104.4104.5

104.8104.8104.8104.6104.8105.2

105.6105.8105.9106.3106.4106.1

106.8106.8106.8106.9107.1

Read-ing andrecrea-

tion

0)

0)0)0)0)0)

50.251.052.554.354.4

55.457.360.065.072.0

75.077.582.586.789.9

89.392.092.493:392.4

92.193.496.9

100. 8102.4

104.9107.2109.5

105.5106.0106.6107.2107.0106.6

107.2107.4107.9108.3108.1108.2

108.5109.1109.2109.4109.5109.2

110.0110.3110.0109.5110.1

1929

193019311932__19331934

19351936._1937_19381939_

19401941____1942_ _19431944

1945_194619471948 _..1949

1950_1951195219531954

1955 _1956195719581959

196019611962 2

1961: January. . .February-MarchAprilMayJune. _

July. ______AugustSeptember.October...November.December.

1962: January.__February..MarchAprilMayJune

JulyAugustSeptember.October. __November.

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

224


TABLE G-44.—Consumer price indexes, by special groups, 1935-62

For city wage-earner and clerical-worker families

[1957-59=100]

Year or month Allitems

Allitems

food

Allitems

shel-ter

Commodities

Allcom-modi-ties

Commodities less food

FoodAll Dura-

blesNon-dura-bles

Services

Allserv-ices

Rent

Allserv-iceslessrent

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 1

1961: January...February.MarchAprilMayJune

JulyAugustSeptember _OctoberNovemberDecember...

1962: January...February.MarchAprilMayJune

JulyAugustSeptemberOctoberNovember..

47.848.350.049.148.4

48.851.356.860.361.3

62.768.077.883.883.0

90.592.593.293.6

93.394.798.0

100.7101.5

103.1104.2105.4

103.8103.9103.9103.9103.8104.0

104.4104.3104.6104.6104.6104.5

104.5104.8105.0105.2105.2105.3

105.5105.5106.1106.0106.0

52.553.054.955.555.1

55.356.960.962.665.0

66.569.475.881.382.1

83.188.490.592.392.8

93.194.797.9

100.1102.0

103.7104.8106.1

104.1104.3104.4104.3104.5104.6

104.8104.9105.3105.5105.6105.5

105.3105. 5105.7106.0106.0106.1

106.1106.2106.6106.7106.7

46.146.748.246.846.0

46.349.155.359.560.5

62.168.479.485.684.1

84.791.893.693.993.9

93.494.797.8

100.7101.5

103.0104.2105.4

103.7103.8103.8103.8103.7104.0

104.4104.3104.5104.7104.5104.4

104.4104.8105.0105.2105.2105.3

105.4105.5106.1106.1106.0

45.045.647.445.644.7

45.148.255.260.160.8

62.669.483.489.487.1

87.695.596.796.495.4

94.495.398.4

100.7101.0

101.7102.4103.2

102.2102.3102.2102.1101. 9102.2

102.8102.5102.8102.9102.6102.4

102.3102.7102.8103.1103.0103.1

103.1103.2104.1104.0103.9

42.142.544.241.039.9

40.544.251.957.957.1

58.466.981.388.284.7

85.895.497.195.695.4

94.094.797.8

101.9100.3

101.4102.6103.6

102.8102.9102.7102.7102.3102.5

103.4102.7102.6102.5101.9102.0

102.5103.1103.2103.4103.2103.5

103.8103.8104.8104.3104.1

50.451.053.253.252.3

52.655.261.464.067.5

70.274.684.290.689.3

89.295.996.796.895.6

94.695.998.999.8

101.3

101.8102.1102.7

101.6101.7101.6101.4101.5101.8

102.1102.2102.6103.0102.9102.6

102.0102.2102.4102.8102.6102.6

102.5102.6103.4103.6103.5

48.148.851.952.851.7

51.354.862.264.370.2

75.579.085.691.993.2

94.2101.4102.7101.697.7

94.994.998.299.7

102.0

100.7100.5101.5

99.599.599.299.9

100.0100.4

100.6101.0101.0101.7101.6101.1

100.8100.8100.9101.4101.5101.6

101.5101.7101.6102.0102.2

48.849.251.250.950.1

50.652.858.460.964.0

66.371.181.788.0

86.292.793.294.094.4

94.496.599.199.8

101.0

102.6103.2103.7

102.9103.0103.1102.5102.5102.7

103.0103.1103.8103.8103.8103.6

102.9103.3103.5103.8103.5103.4

103.3103.2104.6104.6104.4

53.253.855.456.556.6

56.857.559.360.461.9

62.763.966.570.774.0

76.480.484.087.5

91.493.497.0

100.3102.7

105.6107.6109.5

106.8107.0107.2107.3107.4107.5

107.6107.7107.9108.0108.2108.5

108.7108.9109.0109.2109.4109.5

109.8109.9109.8109.8110.0

56.958.360.962.963.0

63.264.365.765.765.9

66.166.568.773.276.4

79.182.385.790.393.5

94.896.598.3

100.1101.6

103.1104.4105.6

103.9104.1104.1104.2104.3104.4

104.4104.4104.7104.8104.9105.0

105.1105.2105.3105.4105.5105.6

105.7105.8105.9106.1106.2

50.750.450.951.351.3

51.452.054.356.759.5

60.762.966.169.973.4

75.480.083.887.089.1

90.892.896.7

100.3102.9

106.1108.3110.1

107.5107.6107.9108.0108.1108.2

108.3108.4108.6108.7108.9109.1

109.3109.5109.6109.8110.1110.2

110.5110.6110.5110.5110.6

* January-November average.Source: Department of Labor.

669333 0—63 15 225


MONEY SUPPLY, CREDIT, AND FINANCETABLE C-45.—Money supply, 1947-62

[Averages of daily figures, billions of dollars]

Year and month

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply l

Total

Cur-rencycom-po-

nent

De-mand

depositcom-

ponent

Timede-

positsad-

just-

Totalmoneysupply

andtime

depos-itsad-

justed 2

Money supply J

Total

Cur-rencycom-pon-nent

De-manddepositcom-

ponent

I

Timede-

positsad-

just-ed 2

U.S.Gov-ern-

mentde-

mandde-

pos-its 3

Seasonally adjusted Unadjusted

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...1962: December4..

1961: JanuaryFebruaryMarchApril. -.May -.June

JulyAugustSeptember...OctoberNovember...December...

1962: JanuaryFebruaryMarchAprilMay.June.

JulyAugustSeptember..OctoberNovember._December 4.

148.5147.5147.5

152.9160.9168.6173.4180.7

185.4189.0193.4206.7209.4

213.9228.2245.3

215.1216.7217.8218.7220.2221.0

222.1222.7224.0225.5227.0228.2

230.0231.3233.1234.7235.2236.2

237.4237.6238.7240.8242.9245.3

113.1111.5111.2

116.2122.7127.4128.8132.3

135.2136.9135.9141.2142.0

141.2145.7147.9

141.4141.8142.2142.5142.8142.8

142.9142.9143.5144.2144.9145.7

145.9145.5145.7146.1145.7145.6

145.7145.1145.3146.1146.9147.9

26.425.825.1

25.026.127.327.727.4

27.828.228.328.628.9

28.929.630.6

29.028.928.928.928.929.0

29.029.129.229.329.429.6

29.729.729.930.030.030.1

30.230.230.230.330.530.6

86.785.886.0

91.296.5

100.1101. 1104.9

107.4108.7107.5112.6113.2

112.2116.1117.3

112.5112.9113.3113.5113.9113.9

113.9113.9114.3114.9115.5116.1

116.3115.8115.8116.0115.7115.4

115.5114.9115.1115.8116.4117.3

35.436.036.4

36.738.241.244.648.4

50.252.157.565.567.4

72.782.597.5

73.774.975.676.377.478.2

79.179.880.581.382.082.5

84.185.887.588.789.690.7

91.892.593.494.696.097.5

151.1150.0150.0

155.6163.8171.7176.4183.6

188.2191.7196.0209.3212.2

216.8231.2248.2

217.6216.3216.3218.9218.5219.8

221.2221.8224.0226.1227.8231.2

232.5230.7231.6235.1233.5235.1

236.6236.7238.8241.4243.6248.2

115.9114.3113.9

119.2125.8130.8132.1135.6

138.6140.3139.3144.7145.6

144.7149.4151.6

144.5141.6140.8142.5140.8141.3

141.6141.6143.1144.5146.3149.4

149.0145.3144.2146.2143.6144.0

144.3143.8145.0146.5148.2151.6

26.826.225.5

25.426.627.828.227.9

28.428.828.929.229.5

29.630.231.2

28.828.628.628.728.728.9

29.229.229.329.429.730.2

29.529.329.629.829.830.0

30.330.330.330.430.831.2

89.188.188.4

93.899.2

103.0103.9107.7

110.2111.5110.4115.5116. 1

115.2119.2120.4

115.6113.0112.2113.8112.1112.4

112.4112.4113.8115.1116.6119.2

119.5115.9114.6116.4113.8113.9

114.0113.5114.6116.1117.5120.4

35.135.736.1

36.438.040.944.248.0

49.651.456.764.666.6

72.181.896. 0

73.274.675.576.577.778.6

79.580.280.981.581.581.8

83.585.487.488.989.991.1

92.293.093.894.995.496.6

1.01.82.8

2.42.74.93.85.0

3.43.43.53.94.9

4.74.95.6

4.14.84.72.84.74.5

4.35.55.26.45.84.9

3.84.65.13.87.07.2

7.16.87.27.36.05.6

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

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

3 Deposits at all commercial banks.4 Preliminary.

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


226


TABLE G-46.—Bank loans and investments, 1948-62


Year or month 1

All commercial banks

Totalloansand

invest-ments

Loans,excludinginterbank

Investments

U.S. Gov-ernmentsecurities

Othersecurities

Weeklyreportingmemberbanks '

Businessloans»

Seasonally adjusted

19481949

1950..1951 _19521953 -1954

19551956195719581959

I960.. __.19611962 4

1961: JanuaryFebruary. _.MarchAprilMayJune

JulyAugustSeptember-OctoberNovember. _December _ .

1962: JanuaryFebruary. . .MarchAprilMayJune

JulyAugustSeptember—October*...November4.December *.

113.0118.7

124.7130.2139.1143.1153.1

157.6161.6166.4181.0185.7

194.5209.6227.6

195.4198.6198.2197.4200.2201.9

203.3204.0206.7207.1208.3209.6

210.7213.3215.2215.0216.4220.3

217.8220.3222.0224.4225.8227.6

41.542.0

51.156.562.866.169.0

80.588.091.495.6

107.8

114.2121.1134.8

113.9115.8115.3115.2115.9115.9

116.3116.3117.4118.6119.4121.1

120.8122.6123.8124.5124.8126.6

126.1127.3129.7131.7132.3134.8

62.366.4

61.260.462.262.367.7

60.457.357.064.957.6

59.664.763.8

60.561.461.260.662.463.8

64.765.166.165.365.364.7

65.766.166.164.665.566.6

64.165.064.364.164.463.8

9.210.2

12.413.414.214.716.4

16.716.317.920.520.4

20.723.829.0

21.021.421.621.721.922.1

22.322.623.223.223.623.8

24.224.625.325.926.127.1

27.628.028.028.629.129.0

15.613.9

17.921.623.423.422.4

»26.730.831.8

3 31.73 30.7

32.232.935.2

31.431.532.231.731.531.8

31.331.531.831.932.132.9

32.032.233.032.832.933.4

33.033.434.134.334.735.2

1 Data are for last Wednesday of month (except June 30 and December 31 call dates) for all commercialbanks and for last Wednesday for weekly reporting member banks.

2 Member banks are all national banks and those State banks which have taken membership in theFederal Reserve System. Weekly reporting member banks comprise about 350 large banks in over 100leading cities.

3 Commercial and industrial Joans and prior to 1956 agricultural loans. Beginning July 1959, loans tofinancial institutions excluded. Series revised beginning October 1955, July 1958, and July 1959.

* Preliminary. Data for December are estimates for December 31, 1962.

NOTE.—Series for all commercial banks have been revised to show seasonally adjusted data.Between January and August 1959, series for all commercial banks expanded to include data for all banks

in Alaska and Hawaii. Data for all member banks include Alaska and Hawaii beginning 1954 and 1959,respectively.


227


T A B L E C-47.—Federal Reserve Bank credit and member bank reserves, 192&-62

[Averages of daily figures, millions of dollars]

Year and month

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

29,06031,21733,218

28,48428,14528,03027,92528,00728,304

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

30,46829,83930,06330,63430, 99131,265

31,47531,60031,80732,05732,05333,218

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

27.24829,09830, 546

26,94226,82926,83126,67626.74726,935

27, 02427,41527, 56328.04428,61629,098

28, 51928,38428, 57029,14329,50329, 568

29, 58130,08829,92130,24130,19530,546

Memberbank

borrow-ings

801

3377632819510

67

1673

354

90265

334157224134118

142657

1,593441246

839688710557906

87149304

4913770569663

51673765

105149

7068916963

100

89127

8065

119304

Allother,

mainlyfloat

396

292410

5714232

5857474799

114180483659654

702821729842607

1,1191,3801,306L,0271,154

1,412L, 703L,4941,5431,493

1,7251,9702,368

1,4931,1791,1291,1931,164L,306

1,423,179

1,4801,3961,4201,970

1,8791,3871,4021,4221,4251,597

1,8051,3851,8061,7511,7392,368

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

a 18,932

19,28320,118

3 20,036

19, 31518, 96418,80918,88418,85619,042

19,06319,22319,36719,66019,84020,118

20,08919, 57119, 54719, 72319,81719,924

20,04619,92120,03420,20519,601

320,036

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

18,52719,550

319,468

18, 57018,31018,25318,27718,30718,430

18,48218,61918,78319,15319,21819,550

19,47319,06919,07719,21319,32019,453

19, 51419,35819, 57619,72119,012

319,468

Excess

48

7360

5261766

1,748

2,9832,0461,0713,2265,011

6,6463,3902,3761,0481,284

1,491900986797803

1,027826723693703

594652577516482

756568

3 568

745654556607549612

581604584507622568

616502470510497471

532563458484589

3568

Memberbank freereserves(excess

reservesless bor-rowings)

1929: December..

1930: December..1931: December..1932: December..1933: December..1934: December..

1935: December..1936: December. _1937: December..1938: December..1939: December..

1940: December. .1941: December..1942: December. _1943: December. .1944: December..

1945: December. _1946: December. .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. _1962: December. . .

1961: JanuaryFebruary. __MarchApril.M a y . .June.

TillyAugustSeptember—OctoberNovember--December. _

1962: JanuaryFebruary. _-MarchAprilMayJune

JulyAugustSeptember—OctoberNovember. .December. .

-753

-264-703245671

1,738

2,9772,0391,0553,2195,008

6,6433,3852,372

9581,019

1,157743762663685

885169

- 8 7 0252457

- 2 4 5- 3 6

- 1 3 3- 4 1

- 4 2 4

4193 264

696517486551453549

530537547442517419

546434379441434371

443436378419470

3 264

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


228


TABLE G-48.—Bond yields and interest rates, 1929-62

[Percent per annum]

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..1962.

1960: January . . .February..MarchAprilMayJune

JulyAugustSeptember.OctoberNovember-December..

3-monthTreas-

urybills i

U.S. Governmentsecurities

()1.402.879.515.256.137.143.447.053.023

.014

.103

.326

.373

.375

.375

.375

.5941.0401.102

1.2181.5521.7661. 931.953

1.7532.6583.2671.8393.405

2.9282.3782.778

4.4363.9543.4393.2443.3922.641

2.3962.2862.4892.4262.3842.272

9-12monthissues2

()0.75

.79

.81

.82

.881.141.14

1.261.731.812.07

.92

1.892.833.532.094.11

3.552.913.02

4.934.583.933.994.193.35

3.132.892.«93.012.992.79

3-5year

issues 3Taxablebonds4

2.662.12

1.291.111.40.83.59

.50

.731.461.341.33

1.181.161.321.621.43

1.501.932.132.561.82

2.503.123.622.904.33

3.993.603.57

4.874.664.244.234.424.06

3.713.503.503.613.683.51

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.473.434.08

4.023.903.95

4.374.224.084.184.163.98

3.863.793.843.913.933.88

Corporatebonds

(Moody's)

Aaa

4.73

4.554.585.014.494.00

3.603.243.263.193.01

2.842.772.832.732.72

2.622.532.612.822.66

2.622.862.963.202.90

3.063.363.893.794.38

4.414.354.33

4.614.564.494.454.464.45

4.414.284.254.304.314.35

Baa

5.90

5.907.629.307.766.32

5.754.775.035.804.96

4.754.334.283.913.61

3.293.053.243.473.42

3.243.413.523.743.51

3.533.884.714.735.05

5.195.085.02

5.345.345.255.205.285.26

5.225.085.015.115.085.10

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

4.27

4.074.014.654.714.03

3.403.073.102.912.76

2.502.102.362.061.86

1.671.642.012.402.21

1.982.002.192.722.37

2.532.933.603.563.95

3.733.463.18

4.133.973.873.843.853.78

3.723.533.533.593.463.45

Primecom-mer-cial

paper,

months

()2.1

2.12.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.64.3

"5.0

5.25.05.0

5.34

5.35

4.97

~4~99

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

3.852.973.26

4.914.664.494.164.253.81

3.393.343.393.303.28

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.00

8 1.0081.008 1.00

8 1.008 1.00

LOO1.34.50

1.751.75

1.892.773.122.163 36

3.533.003.00

4.004.004.004.004.003.65

3.503.183.003.003.003.00


229


TABLE C-48.—Bond yields and interest rates, 1929-62—Continued

[Percent per annum]

Year or month

U.S. Governmentsecurities

3-monthTreas-

urybills i

9-12monthissues2

3-5year

issues3Taxablebonds4

Corporatebonds

(Moody's)

Aaa Baa

High-grade

munic-ipal

bonds(Stand-ard &Poor's)

Averagerate onshort-termbankloans

to busi-n e s s -

selectedcities

Primecom-mer-cial

paper,4-6

months

Fed-eralRe-

serveBankdis-

countrate

1961: JanuaryFebruaryMarchApril . . .MayJune

JulyAugustSeptemberOctober .__NovemberDecember

1962: JanuaryFebruaryMarchApril - —May__June

JulyAugustSeptemberOctober..NovemberDecember ___

2.3022.4082.4202.3272.2882.359

2.2682.4022.3042.3502.4582.617

2.7462.7522.7192.7352.6942.719

2.9452.8372.7922.7512.8032.856

2.702.842.862.832.823.02

2.873.033.032.972.953.03

3.083.112.992.942.983.02

3.233.133.002.902.922.95

3.533.543.433.393.283.70

3.693.803.773.643.683.82

3.843.773.553.483.533.51

3.713.573.563.463.463.44

3.893.813.783.803.733.88

3.904.004.023.983.984.06

4.084.094.013.893.883.90

4.023.983.943.893.873.87

4.324.274.224.254.274.33

4.414.454.454.424.394.42

4.424.424.394.334.284.28

4.344.354.324.284.254.24

5.105.075.025.015.015.03

5.095.115.125.135.115.10

5.085.075.045.025.005.02

5.055.065.034.994.964.92

3.443.333.383.443.383.53

3.533.553.543.463.443.49

3.323.283.193.083.093.24

3.303.313.183.033.033.12

4.97

4.97

4.96

4.98

5.01

4.99

5.02

2.983.033.032.912.762.91

2.722.923.053.002.983.19

3.263.223.253.203.163.25

3.363.303.343.273.233.29

3.003.003.003.003.003.00

3.003.003.003.003.003.00

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 Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable there-

after.* 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.« Not available before August 1942.7 Not available on same basis as for 1939 and subsequent years.« 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.9 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.

230


T A B L E C-49.—Short- and intermediate-term consumer credit outstanding, 1929—62

[Millions of dollars]

End of year or month

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

196019611962 4

1961: January. . . .February.-MarchAprilMayJune

JulyAugustSeptember-OctoberNovember _December—


JulyAugustSeptember-OctoberNovember..December 4

Total

7,116

6,3515,3154,0263,8854,218

5,1906,3756,9486,3707,222

8,3389,1725,9834,9015,111

5,6658,384

11,59814,44717,364

21, 47122, 71227, 52031, 39332,464

38, 83042,33444, 97045,12951, 542

56,02857. 67863,250

55,01354,14453,92954,02654, 43454,815

54, 75055, 07855,14955,34055,91557, 678

56, 71156,09356, 27557, 31458, 31859,108

59, 36460,00360,12660,62661,47363,250

Instalment credit

Total

3,524

3,0222,4631,6721,7231,999

2,8173,7474,1183,6864,503

5,5146,0853,1662,1362,176

2,4624,1726,6958,996

11,590

14, 70315,29419,40323, 00523, 568

28, 90631, 72033, 86733,64239,245

42,83243,52748,075

42,34641,87541, 67141,62741, 78742, 089

42,14142,35842,33442, 49442,73743,527

43,26543, 07443,21143,83744,49545,208

45, 65046,20446, 31046, 72247,27448,075

Auto-mobilepaper i

1,384

986684356493614

9921,3721,4941,0991,497

2,0712,458

742355397

455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13, 46014, 42015,34014,15216,420

17, 68817, 22319.350

17, 45617, 24117,13917, 08717,14317,272

17, 28517, 29217,13317,15317, 21117, 223

17,15517,19117, 34817,67118,03218, 410

18,68018,93318,88119,08319,30719,350

Othercon-

sumergoods

paper l

1

11

]]

\*

,544

,432,214834799889

L,000L,290L, 505L,442L,620

1,827L,9291,195

819791

8161,2902,1432,9013,706

1,7991,8803,1743,7793,751

7,6413,6063,844},028

10, 630

11, 52511, 85712,725

11,35311,12310,99010,90010,91210,944

10,93110,98911, 05611,14211,26411,857

11, 72011,49611,40711, 49811, 59811,726

11, 75411,82411, 86111,98612,18612, 725

Repairand

modern-izationloans 2

27

2522181537

253364219218298

371376255130119

182405718853898

1,0161,0851,3851,6101,616

1,6931,9052,1012,3462,809

3,1393,1913,300

3,1003,0763,0673,0753,1023,125

3,1343,1703,1883,1933,2043,191

3,1513,1233,1133,1283,1693,200

3,2263,2603,2773,2893,3023,300

Per-sonalloans

569

579543464416459

572721900927

1,088

1,2451,322

974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,392

6,1126,7897,5828,1169,386

10, 48011, 25612, 700

10, 43710, 43510, 47510,56510, 63010, 748

10,79110,90710, 95711, 00611, 05811, 256

11, 23911, 26411, 34311, 54011, 69611,872

11, 99012,18712,29112, 36412,47912, 700

Noninstalment credit

Total

3,592

3,3292,8522,3542,1622,219

2,3732,6282,8302,6842,719

2,8243,0872,8172,7652,935

3,2034,2124,9035,4515,774

6,7687,4188,1178,3888,896

9,92410, 61411,10311,48712,297

13,19614,15115,175

12,66712,26912,25812,39912,64712,726

12, 60912. 72012.81512,84613,17814,151

13,44613, 01913,06413,47713,82313,900

13, 71413, 79913, 81613,90414,19915,175

Chargeac-

counts

1,996

1,8331,6351,3741,2861,306

1,3541,4281,5041,4031,414

1,4711,6451,4441,4401,517

1,6122,0762,3812,7222,854

3,3673,7004,1304,2744,485

4,7954,9955,1465,0605,104

5,3295,3245,600

4,7544,1874,1414,2294,3754,440

4,3274,3604,3664,4484,6015,324

4,7844,1924,0744,3194,5444,596

4,4574,4914,4954,6634,8255,600

Other 3

1,596

1,4961,217

980876913

1,0191,2001,3261,2811,305

1,3531,4421,3731,3251,418

1,5912,1362,5222,7292,920

3,4013,7183,9874,1144,411

5,1295,6195,9576,4277,193

7,8678,8279,575

7,9138,0828,1178,1708,2728,286

8, 2828,3608,4498,3988,5778,827

8,6628,8278,9909,1589,2799,304

9,2579,3089,3219,2419,3749,575

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

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

3 Single-payment loans and service credit.4 Preliminary estimates by Council of Economic Advtsers.

NOTE.—Series revised for 1929-1939 and 1955 to date. For details, see Federal Reserve Bulletin, Decem-ber 1962.

Data for Alaska and Hawaii included beginning January and August 1959, respectively.

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

231


TABLE C-50.—Instalment credit extended and repaid, 7946-62


Year or monthTotal

Ex-tended

Re-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

1946194719481949

19501951195219531954

19551956195719581959

196019611962

1961: JanuaryFebruaryMarch.AprilMayJune

JulyAu-rustSeptember...-/OctoberNovember.^..December

1962: January.FebruaryMarchAprilMayJune.

JulyAugustSeptemberOctoberNovemberDecember *—_

8,49512,71315,58518,108

21,55823,57629,51431,55831,051

38,97239, 86842,01640,11948,052

49, 56048, 39655, 275

6,78510,19013,28415, 514

18,,44522,98525,40527,95630,488

33,63437,05439,86840,34442,603

45. 97247, 70050, 725

1,9693,6925,2176,967

8,5308,95611,76412,98111,807

16,73415,51516,46514, 22617,779

17, 65416, 00719, 475

1,4432,7494,1235,430

7,0119,05810,00310,87911,833

13,08214,55515,54515,41515,579

16. 38416, 47217, 350

3,0774,4985,3835,865

7,1507,4859,1869,2279,117

10,64211,72111, 80711,74713, 982

14, 47014, 57816,025

2,6033,6454,6255,060

6,0577,4047,8928,6229,145

9,75210,75611,56911,56312,402

13, 57414, 24615,150

423704714734

8411,2171,3441,261

1,3931,5821,6741,8712,222

2,2132,0682,100

200391579

717772917

1,1191,255

1,3161,3701,4771,6261,765

1,8832,0152,000

3,0263,8194,2714,542

5,0436,2947,3478,006

10,20311,05112.06912, 27514.070

15,22315, 74417,675

Seasonally adjusted

3,8793,8293,8793,8363,9054,024

3,9614,0714,0184,2354,3324,409

4,3274,3564,4994,6594,6504,623

4,6694,6194,4914,6824,9814,765

3,9043,9153,9253,9573,9143,980

3,9574,0163,9694,0734,0634,061

4,0484,0844,1214,1664,2114,202

4,2834,2614,2894,2984,3804,390

1,2851,2291,2771,2551,2971,344

1,3181,3121,2971,4191,5101,469

1,5041,5461,5821,6751,6551,621

1,6311,6021,5051,6851,7971,650

1,3731,3701,3661,3781,3541,372

1,3791,3771,3601, 3961,3841,375

1,4011,3901,4151,4351,4471,433

1,4561, 4461,4401,4911,4901,500

1,1841,1551,1471,1621,2631,178

1,1911,2291,2321,2671,2651,402

1,2801,2761,3281,3451,3381,344

1,3681,3251,3081,3351,4251,400

1,1621,1401,1741,2031,1681,188

1,1761,1971,1881,2171,2061,233

1,1901,2361,2311,2471,2601,260

1,2961,2811,2981, 2611,3021,300

169163171170171179

169185174174172167

171166174182183187

189179170169168165

167163163167169171

165169169175166169

165167168168173170

170172169165163165

1,2411,2821,2841,2491,2741,323

1,2831, 3451,3151,3751,3851,371

1,3721,3681,4151,4571,4741,471

1,4811,5131,5081,4931,5711,550

2,5393,4053,9574,335

4,6605,7516,5937,3368,255

9,48410,37311,27611,74112,857

14,13014, 96716,225

1,2021,2421,2221,2091,2231,249

1,2371,2731,2521,2851,3071.284

1,2921,2911,3071,3161,3311,339

1,3611,3621,3821,3811,4251,425

1 Preliminary; December by Council of Economic Advisers.NOTE.—Series revised beginning 1955. For details, see Federal Reserve Bulletin, December 1962.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).

232


TABLE C-51.—Mortgage debt outstanding, by type of property and of financing, 7939—62


End of year or quarter

1939

194019411942 _ . __ ___19431944

19451946194719481949

19501951195219531954 . -

19551956 .195719581959

1960196131962 3

I960* III iIIIIV

1961: IIIIIIIV 3

1962: I» . . .113Til 3IV»

Allprop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.6171.9190.9

207.1225.5249.9

194.6198.9203.2207.1

210.3215.2220.1225.5

230.2236.8243.2249.9

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.543.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.7

194.0211.3234.3

182.1186.0190.3194.0

197.0201.5206.1211.3

215.7221.9227.9234.3

1- to 4-family houses

Total

16.3

17.418.418.217.817.9

18.623.028.233.337.6

45.251.758.566.175.7

88.299.0

107.6117.7130.9

141.3153.0168.7

133.1135.8138.8141.3

143.2146.3149.6153.0

155.9160.1164.3168.7

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

56.459.1

54.555.055.756.4

57.157.858.759.1

59.960.461.0

FHAin-

sured

1.8

2.33.03.74.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.519.723.8

26.729.5

24.625.226.026.7

27.428.028.829.5

30.330.931.5

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730. 430.0

29.729.6

29.929.829.729.7

29.729.829.929.6

29.629.529.5

Con-ven-

tional i

14.5

15.115.414.513.713.7

14.316.918.920.822.6

26.328.833.138.043.6

49.355.160.467.677.0

84.893.9

78.680.983.284.8

86.188.690.993.9

95.999.7

103.3

Multi-family

andcom-

mercialprop-

erties 2

12.5

12 612.912.512 111.8

12 213.815.717 619.5

21.623.925 727.529.7

32.635.638.543.047.9

52.758.365.6

49.050.251.552.7

53.755.156.558.3

59.961.863.665.6

Farmprop-erties

6 6

6 56 46.05 44 9

4 84.95.15 35.6

6.16.77 37.88.3

9.19.9

10 511.312.2

13.114.215.5

12.512.813.013.1

13.313.714.014.2

14.514.915.315.5

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.• Preliminary.* Not available.Source: Board of Governors of the Federal Reserve System, estimated and compiled from data supplied

by various Government and private organizations.

233


T A B L E C-52 .—Net public and private debt, 1929-62 1


End ofyear2

1929_...

1930—1 9 3 1 —19321933__._1934.__.

1935__._1936—1937—1933—1939_.__

1940—1941_.__1942..__1943—1944—

1945—1946—1947—1948—1949....

1950—1951—.19521953—1954—

1955—1956—1957—19581959....

I 9 6 0 —1 9 6 1 —1962 «_„

Total

190.9

191.0181.9174.6168.5171.4

174.7180.3182.0179.6183.2

189.9211.6259.0313.6370. 8

406.3397.4417.4433.6448.4

490.3524.0555.2586.5612.0

672.3707.5738.9782.5847.3

884.1936.9

1,000.7

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

241.0248.1256.8

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

60.065.072.0

Private

Total

161.2

ISO. 4147.9136.7127.5125.1

124.2126.4126.7123.1124.3

128.6139.0141.5144.3144.8

139.9154.1179.7200.9211.7

250.9282.2306.5329.8348.4

402.5439.4467.8498.9548.5

583.1623.8671.9

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

212.1231.7246.7259.5281.5

294.8311.5330.8

Long-term

47.3

51.150.349.247.944.6

43.642.543.544.844.4

43.743.642.741.039.8

38.341.346.152.556.5

60.166.673.378.382.9

90.0100.1112.1121.2129.3

137.9146.3156.2

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

122.2131.7134.6138.4152.2

156.9165.1174.6

Total

72.3

71.164.456.750.649.6

49.450.350.949.850.8

53.055.649.948.850.7

54.660.670.883.193.7

108.8119.7135.5150.3165.6

190.4207.7221.1239.4267.0

288.3312.3341.1

Individual and noncorporate

Farm 3

12.2

11.811.110.19.18.9

9.18.68.69.08.8

9.19.39.08.27.7

7.37.68.6

10.812.0

12.313.615.216.917.6

18.819.520.323.324.0

25.328.729.3

Nonfarm

Total

60.1

59.353.346.641.540.6

40.541.742.340.942.0

43.946.340.940.542.9

47.453.062.372.481.8

96.6106.2120.4133.6147.9

171.6188.2200.8216.1243.0

263.0283.6311.8

Mort-gage

31.2

32.030.929.026.325.5

24.824.424.324.525.0

26.127.126.826.126.0

27.032.538.845.150.6

59.467.475.283.894.6

108.7121.3131.6144.6160.8

174.5189.9210.7

Com-mer-cialand

finan-cial*

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.8

14.712.111.912.913.9

15.816.217.818.420.8

24.024.424.326.530.8

32.736.638.0

Con-sumer

6.4

5.84.83.63.53.9

4.96.16.76.37.2

8.39.26.04.95.1

5.78.4

11.614.417.3

21.422.627.431.432.5

38.942.544.845.051.3

55.857.163.1

i 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.

i Data for State and local government debt are for June 30.» 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.8 Preliminary estimates by Council of Economic Advisers.

NOTE.—Revisions for 1929-39 and 1955-62 in the consumer credit data of the Board of Governors of theFederal Reserve System have not yet been fully incorporated into this series.

Sources: Department of Commerce, Treasury Department, Board of Governors of the Federal ReserveSystem, and Federal Home Loan Bank Board (except as noted).

234


GOVERNMENT FINANCETABLE G-53.—U.S. Government debt, by kind of obligation, 1929-62


End of year or month

1929

19301931193219331934

19351936 - - _193719381939

1940 - -1941194219431944 -

1945194619471948 .1949

19501951 -195219531954. . . - .

19551956195719581959

196019611962

1961' JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctober.. .NovemberDecember

1962* JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptember .OctoberNovemberDecember-

publicdebt and

guar-anteedissues i

16.316.017.820.824.031.535.139.141.944.447.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0290.2290.7287.7288.2290.4289.2292.6294.0294.0296.0297.3296.5296.9297.4296.5297.4299.6298.6

298.3302.3300.0302.6305. 9304.0

Interest-bearing public debt

Marketable publicissues

Short-term

issues2

3.32.92.85.97.5

11.114.212.512.59.87.77.58.0

27.047.169.978.257.147.745.950.258.365.668.777.376.081.379.582.192.2

103.5109.2120.5124.6109.5110.1105.8107.2108.0106.3110.5111.5112.6116.0120.4120.5121.0121.0120.0120.3122.7121.0

121.9122.1118.2121.6124.2124.6

Treasurybonds

11.311.313.513.414.715.414.319.520.524.026.928.033.449.367.991.6

120.4119.3117.9111.4104.894.076.979.877.281.881.980.882.183.484.879.875.578.479.879.880.680.980.880.880.879.779.379.375.275.576.676.676.677.875.575.0

75.077.279.879.780.078.4

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01.42.23.26.1

15.027.440.448.249.852.155.156.758.057.657.957.757.757.956.352.551.248.247.247.547.547.247.347.447.447.547.547.647.647.747.747.847.547.547.547.647.647.647.6

47.747.747.747.747.747.5

Treasurytax andsavingsnotes

2.56.48.69.8

8.25.75.44.67.68.67.55.86.04.5

S38(8)(8)(8)(8)(8)(8)(8)(8)(8)(8)(8)(•)(•)(8)(0)

(8)

(8)(8)

(•)(8)(')

Invest-ment

bonds3

1.01.01.01.0

13.013.412.912.712.311.610.39.07.66.25.14.46.16.16.05.95.85.8

5.85.75.65.25.15.15.05.04.84.84.84.7

4.74.64.64.54.54.4

Specialissues4

0.6.8.44

.46

.76

2.23.24.25 47 09.0

12 716.320.024 629.031.733 933.735.939 241.242.643 945.645 844.843 544.343.543.443 843.744.043.044.545.044.245.645.043.944.243.542.342.842.842.144.344.9

43.845.444.643.944.243.4

1 Total includes non-interest-bearing debt. fu% guaranteed securities (except those held by the Treas-ury), Postal Savings bonds, prewar bonds, adjusted service bonds, depositary bonds, armed forces leavebonds, Rural Electrification Administration series bonds, foreign series certificates, and foreign currencycertificates and 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.* Issued to U.S. Government investment accounts. These accounts also held $12.2 billion of public

marketable and nonmarketable issues on December 31,1962.« Less than $50 million,e The last series of Treasury savings notes matured in April 1956.

Source: Treasury Department.235


TABLE G-54.—Estimated ownership of U.S. Government obligations, 1939-62[Par values,' billions of dollars]

End of year ormonth

1939194019411942 -1943194419451946 . . _ ._ _1947194819491950195119521953195419551956 _ -195719581959

19601961 —1962 8

1961: JanuaryFebruaryMarchAprilMayTime

JulyAugustSeptemberOctoberNovemberDecember

1962* JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptemberOctoberNovemberDecember 8—

Gross public debt and guaranteed issues 2

Total

47.650.964 3

112.5170.1232.1278 7259. 5257.0252.9257.2256.7259 5267.4275.2278.8280 8276.7275.0283.0290.9290 4296.5304.0290.2290.7287.7288.2290.4289.2

292.6294 0294.0296.0297.3296.5

296.9297.4296.5297.4299.6298.6

298.3302.3300.0302.6305.9304.0

Heldby U.S.

Gov-ern-ment

invest-mentac-

counts

6.57.69 5

12.216.921.727 030.934.437 339.439.242 345.948.349 651 754.055.254 453.755 154.555.654.654.554.954.055.556.1

55.256.555.955.055.454.5

53.854.254.553.755.956.5

55.557.156.456.157.955.6

Held by others

Total

41.143.354.7

100.2153.2210.5251.6228.6222.6215.5217.8217.5217.2221.6226.9229.2229.1222.7219. 8228.6237.3235 3242.0248.4235.6236.3232.8234.2234.9233.1

237.4237.5238.1241.0241.9242.0

243.1243.2242.0243.6243.7242.1

242.8245.3243.6246.5248.0248.4

FederalReservebanks

2.52.22.36.2

11.518.824.323.322.623.318.920.823.824.725.924.924.824.924.226.326.627.428.930.826.626.726.726.826.927.3

27.427.727.828.329.228.9

28.528.429.129.229.629.7

29.830.429.830.230.530.8

Com-mercialbanks3

15.917.321.441.159.977.790.874.568.762.566.861.861.663.463.769.262.059.559.567.560.362.167.266.262.761.959.761.762.162.5

65.565.166.667.366.967.2

67.866.664.065.365.265.0

64.564.564.665.965.466.2

Mutualsavingsbanksand in-surance

com-panies

9.410.111.915.821.228.034.736.735.932.731.529.626.325.525.124.123.121.320.219.919.518.117.517.518.318.218.317.917.917.7

17.817.817.817.817.717.5

17.817.818.017.817.817.6

17.817.817.717.617.617.5

Othercorpora-tions 4

2.22.04.0

10.116.421.422.215.314.114.816.819.720.719.921.519.223.519.118.618.822.819.919.421.020.321.419.720.821.419.7

19.820.018.619.520.319.4

20.421.420.220.420.819.3

20.021.119.120.022.021.0

Stateandlocal

govern-ments 8

0.4.5.7

1.02.14.36.56.37.37.98.18.89.6

11.112.714.415.316.316.616.518.018.718.719.518.819.119.319.119.119.3

19.419.219.118.918.618.7

19.019.119.519.619.719.7

19.919.919.819.619.319.5

Individ-uals 6

10.110.613.623.737.653.364.164.265.765.566.366.364.665.264.863.464.765.564.063.068.064.965.265.564.965.065.164.163.863.4

63.964.464.564.865.165.2

65.465.465.765.565.265.2

65.465.565.665.565.665.5

Miscel-aneousinves-tors 7

0.7.79

2.34.47.09 18.18.48 99.4

10.510 611.713.213.915.616.116.616.622.124.225.027.924.023.924.123.923.523.2

23.723.223.724.524.125.0

24.124.525.625.925.425.7

25.426.127.027.727.627.9

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

debt limitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and Terri-tories and island 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 C-46, which are based on book values and relate only to bankswithin the United States.

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

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

and brokers, and investments of foreign balances and international accounts in this country. Beginningwith December 1946, the international accounts include investments by the International Bank for Recon-struction and Development, the International Monetary Fund, the International Development Associa-tion, and the Inter-American Development Bank, 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).

236


TABLE C-55.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-62

End of year or monthAmount

out-standing

Maturity class

Withinlyear

1 to 5years

6 to 10years

10 to 20years

20 yearsandover

Average length

Millions of dollars Years

Fiscal year:1946194719481949

19501951 _195219531954

19551956195719581959

19601961 -1962...

1961: January.. .February..MarchAprilMayJune _

July -August—.September.October.._November.December.

1962: January —February.MarchAprilMayJune

JulyAugustSeptemberOctober. __November.December.

189,606168,702160,346166,147

155,310137,917140,407147,335150,354

155,206154,953155,705166,675178,027

183,845187,148196,072

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

191, 275191,138191,925195, 234195,643195,965

197,628197,609196,524198,138198,193196,072

196,870199,295197,951201,311204,222203, 011

61,97451,21148,74248,130

42,33843,90846,36765,27062,734

49,70358,71471,95267,78272,958

70,46781,12088,442

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

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

86,41688,41787,20988,05590,57788,442

89,24493,72884,46788,28488,58087, 284

24,76321,85121,63032,562

51,29246,52647,81436,16129,866

39,10734,40140,66942,55758,304

72,84458,40057,041

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

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

64,92162,91059,67959,20655,54957,041

57,05552,80658,15857,72861,61461, 640

41,80735,56232,26416,746

7,7928,70713,93315,65127,515

34,25328,90812,32821,47617,052

20,24626, 43526,049

18,68418.68327, 65827, 65426,43826, 435

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

20,91820,91623,72024,97626,17826,049

26,04527,88532,41132,40331,14033,983

17,46118,59716,22922,821

28,03529,97925,70028,66228,634

28,61328,57826,40727,65221,625

12,63010,2339,319

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

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

11,95911,95410,67710,67010,6649,319

9,3139,3097,3537,3487,3424,565

43,59941,48141,48134,888

25,8538,7976,5941,5921,606

3,5304,3514,3497,208

7,65810,96015,221

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

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

13,41413,41115,23915,23215,22515,221

15,21315,56715,56215,54815,54515, 539

Months

104937

711101111

10100

111111

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

Source: Treasury Department.

237


TABLE C-56.—Federal budget receipts and expenditures and the public debt, 7929-64


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. . .1963 *..1964 4.

Calendar year:19481949

1950.1951.1952.1953-1954.

1955.1956.1957.1958.1959.

1960. . .1961 . .1962 »_.

3,861

4,0583,1161,9241,9973,015

3,7063,9974,9565,5884,979

5,1377,09612,54721,94743,563

44,36239,65039,67741,37537,663

36,42247,48061,28764,67164,420

60,20967,85070, 56268,55067,915

77,76377,659

3 81,4093 85,5003 86,900

40,80037,464

37,23552,87764,70563,654

63,11970,61671,74968,26272,738

79,51878,157

3 84,709

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

64,38966,22468,96671,36980,342

76,53981,51587,78794,31198,802

35,55941,056

37,65756,23670,54772,81164, 622

65,89166,83871,15775,34979,778

77,56584,46391,907

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

1,224-3,856-6,378-8,811-11,902

5,241-3,592

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

-2, 7713,779592

-7,088-7,040

1,953-6,306-7,199

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, 971298,201303,494315,604

252,800257,130

256, 708259, 419267,391275.168278, 750

280,769276, 628274,898282, 922290, 798

290, 217296.169303,470

* 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 issues; therefore, differs from total shown in Tables C-53 and C-54. The changein the public debt from year to year reflects not only the budget surplus or deficit but also changes in theGovernment's cash on hand, and the use of corporate debt and investment transactions by certain Govern-ment enterprises.3 Receipts reflect new depreciation guidelines and investment tax credit. For details, see Table C-62.

* Estimate.«Preliminary.NOTE.—Certain interfund transactions are excluded from budget 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.

238


T A B L E C-57.—Federal budget receipts by source and expenditures by function, fiscal years 1946-64


Fiscalyear

1946._1947.-1948. .1949._

1950-_1951__1952__1953._1954-_

1955-_1956-.1957._1958-_1959. .

1960__1961-.1962 3.1963 3 41964 3 4

Budget receipts by source

Total

39,65039,67741,37537,663

36,42247,48061,28764,67164,420

60,20967,85070, 56268, 55067,915

77,76377,65981,40985,50086,900

Indi-vidualincometaxes

16,15717,83519,30515,548

15,74521,64327,91330,10829, 542

28,74732,18835,62034, 72436,719

40,71541,33845,57147,30045,800

Corpo-rationincometaxes

11,8338,5699,678

11,195

10,44814,10621,22521,23821,101

17,86120,88021,16720,07417,309

21,49420,95420,52321,20023,800

Excisetaxes

6,9997,2077,3567,502

7,5498,6488,8519,8689,945

9,1319,9299,0558,6128,504

9,1379,0639,5859,900

10,430

Allother

re-ceipts1

4,6616,0665,0373,418

2,6793,0833,2983,4563,833

4,4694,8544,7215,1415,384

6,4186,3045,7317,1006,870

Budget expenditures, by functior

Tntnl1 Olal

60,32638,92332,95539,474

39,54443,97065,30374,12067,537

64,38966,22468,96671,36980,342

76,53981,51587,78794,31198,802

Na-tional

defense

43,17614,36811,77112,908

13,00922,44443,97650,44246,986

40,69540,72343,36044,23446,491

45,69147,49451,10353,00455,433

Veter-ans'serv-icesand

bene-fits

4,4157,3816,6536,725

6,6465,3424,8634,3684,341

4,5224.8104,8705,1845,287

5,2665,4145,4035,5455,484

Agri-cul-tureandagri-

cultur-al re-

sources

7471,243

5752,512

2,783650

1,0452,9552,573

4,3884,8684,5464,4196,590

4,8825,1735,8956,7315,696

Inter-est

4,8165,0125,2485,445

5,8175,7145,9346,5786,470

6,4386,8467,3077,6897,671

9,2669,0509,1989,782

10,103

L

Allother

expend-itures 2

7,17310,9178,708

11,884

11,2889,8199,4869,7777,167

8,3468,9778,8839,843

14,303

11,43414,38416,18619,25022,087

Budgetsurplusor defi-.ji / \

cit (—)

-20,676754

8,419-1,811

-3,1223,510

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

-4,1801,6261,596

-2,819-12,427

1,224-3,856-6,378-8,811

-11,902

* 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. Annual expenditures (millions of dollars) for space research andtechnology, 1954-1964 are, respectively: 90, 74, 71, 76, 89, 145, 401, 744, 1,257, 2,400, and 4,200. Also include sadjustment to daily Treasury statement (for actuals) and allowance for contingencies (for estimates). Seealso Note below.

8 Receipts reflect new depreciation guidelines and investment tax credit. For details, .see Table C-62.* Estimate.

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

8ources: Treasury Department and Bureau of the Budget.

239Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE C-58.—Government cash receipts from and payments to the public, 7946-64


Fiscal or calendar year

Fiscal year:19461947.19481949

1950195119521953 . .1954

19551956195719581959

I960 -196119621963 81964» . .

Calendar year:194619471948 .1949

19501951195219531954

19551956195719581959

19601961--.1962 6 .

Total

Cashre-

ceipts

54.255.659.657.6

58.272.588.793.995.6

93.5105.8113.5115.0117.0

134.5139.2

4146.7

52.957.460.057.9

60.479.193.093.593.3

98.4110.2116.8115.9124.6

139.4141.3

4152. 7

Cashpay-

ments

70.247.550.256.3

61.565.288.999.196.1

97.5101.6111.8118.2132.3

132.9141.7153.3

50.950.751.859.8

61.178.393.6

100.495.3

100.2105.2116.6125.2133.1

135.4148.7159.6

Excessof re-ceiptsor ofpay-

ments

-16 .08.19.41.3

- 3 . 37.3

- . 2- 5 . 2- . 4

- 4 . 04.21.7

- 3 . 2-15 .3

1.6- 2 . 5- 6 . 6

2.06.78.2

— 1.8

- . 6.9

—.6- 6 . 9- 2 . 0

- 1 . 85.0.2

- 9 . 3- 8 . 5

4.0- 7 . 4- 7 . 0

Cashre-

ceipts

43.543.545.441.6

40.953.468.071.571.6

67.877.182.181.981.7

95.197.2

4 101.94108.44112.2

41.444.344.941.3

42.459.371.370.268.6

71.480.384.581.787.6

98.397.9

4 106. 2

Federal

Cashpay-

ments

61.736.936.540.6

43.145.868.076.871.9

70.572.680.083.494.8

94.399.5

107.7116.8122.5

41.438.636.942.6

42.058.072.077.469.7

72.274.883.389,095.6

94.7104.7111.9

i


ments

-18.26.68.91.0

-2.27.6

00- 5 . 3- . 2

- 2 . 74.52.1

- 1 . 5-13.1

.8- 2 . 3- 5 . 8- 8 . 3

-10.3

5.78.0

—1.3

.51.2

—.6- 7 . 2—1.1

- . 75.51.2

- 7 . 3- 8 . 0

3.6- 6 . 8- 5 . 7

State and local *

Cashre-

ceipts

10.712.114.216.0

17 319.120.722.424.0

25.728.731.433.135.3

39.442.044.8

11.413.115.116.6

18.019.921.723.224.7

26.929.932.334.137.1

41.143.446.4

Cashpay-

ments

8.510.613 715.7

18 419 420.922.324.2

27.029 031.834.837.5

38.642.245.7

9 512.114.917.1

19.120 221.623.025.6

28.030.433.336.237.5

40.744.047.7


ments

2 21.5

53

—1 1— 3- . 2

.1- . 2

- 1 . 3— 3- . 4

- 1 . 7- 2 . 2

.8- . 2- . 9

1 91 0.2

— 5

- 1 . 1— 4

1. 3

—.9

- 1 . 1- . 5

- 1 . 0- 2 . 1- . 5

.4- . 6

- 1 . 3

1 For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June 80,1964, and Table C-61.

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 C-59.

3 Less than $50 million.4 Receipts reflect new depreciation guidelines and investment tax credit. For details, see Table C-62.«Estimate.6 Preliminary.Sources: Treasury Department, Bureau of the Budget, Department of Commerce, and Council of Eco-

nomic Advisers.

24O


T A B L E C-59.—Government receipts and expenditures in the national income accounts, 1929—62


Calendar year or quarter

1929

1930 . .1931193219331934

193519361937 _19381939

194019411942.19431944

19451946194719481949

1950 — - -1951195219531954

19551956195719581959

196019611962 3

I960: IIIIII . . . .IV

1961: IIIIII .IV

1962: I ._ _._IIIIIIV3 .

Total government

Re-ceipts

11.3

10.89.58.99 3

10.5

11.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159.256.4

69.385.590.694.990.0

101.4109.5116.3115.1130.2

141.0144.8

* 158.2

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

136.8149.3161.0

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

-11.4-1.5

4.2—4.4-2.8

Federal Government *

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

72.877.581.778.590.3

96.998.3

« 108.2

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

41.058.071.677.769.6

68.971.879.787.991.4

93.1102.1109.9

Sur-plus ordeficit( - ) o nincome

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

3.85.72.0

-9.4-1 .1

3.8-3.8-1.7

State and localgovernment

Re-ceipts

7.6

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

31.735.238.642.046.6

50.453.657.7

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

32.735.739.644.147.0

50.054.258.8

Sur-plus ordeficit( - ) o nincome

andprod-

uct ac-count

-0 .1

- . 5- . 7- . 2

.5

6.5.7.4.1

.71.31.82.52.7

2.61.91.1.3

- . 6

-1.0- . 3

.1

.3- . 9

-1 .0- . 5

-1.0-2.1- . 3

.4- . 6

-1 .1


141.9142.4139.9139.7

138.1143.9145.7151.6

154.6157.8159.2

133.2135.6138.2140.3

145.0148.1149.3154.4

157.9158.9161.6165.6

8.76.71.8

- . 7

-6 .9-4 .3-3 .6-2 .9

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

98.998.495.594.7

92.797.798.9

103.8

105.9108.4108.9

90.892.994.095.2

99.0101.9102.2105.1

108.3109.0109.8112.5

8.15.51.5

- . 4

-6 .3-4.2-3 .3-1 .3

-2.4- . 7- . 9

48.950.650.951.1

52.453.153.854.8

56.357.457.8

48.349.450.751.3

53.153.254.156.4

57.157.859.361.2

0.61.2.2

- . 2

- . 7- . 1- . 3

-1 .6

- . 4-1 .4

1 See Note, Table C-60.2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.* See Table C-62.5 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 expenditures have been adjustedto eliminate this duplication.

Data for Alaska and Hawaii included beginning 1960.


669333 O—63 16


TABLE C-60.—Federal Government receipts and expenditures in the national income accounts.1946-64


Year or quarter

Fiscal year:1946194719481949

19501951195219531954

19551956195719581959

1960196119621963 31964 3

Calendar year:1946194719481949 _.

19501951195219531954

19551956195719581959

196019611962* -.

Calendar quarter:1960: I

IIIIIIV...

1961: II I . . . .IllIV....

1962: IIIIIIIV*

Receipts

Total

Per-sonaltaxandnon-taxre-

ceipts

37.342.943.740.142.061.765.569.965.967.076.380.977.885.9

95.595.5

2104.02108.8

39.243.343.439.150.264.567.770.363.8

72.877.581.778.590.3

96.998.3

5108.2

Cor-po-rate

profitstaxac-

•ruals

16.918.820.016.316.523.529.031.530.429.933.536.736.338.743.144.047.650.148.8

17.219.619.016.218.226.331.232.429.2

31.535:237.336.640.4

44.045.049.3

7.210.711.210.911.721.819.319.817.118.421.020.417.321.1

21.819.821.921.723.3

8.610.711.89.8

17.121.618.619.416.5

20.920.219.917.722.0

21.221.023.4

Indi-rectbusi-

and

ac-cru-als

7.47.98.08.18.39.69.9

11.010.710.411.212.112.012.313.913.614.615.315.8

7.97.98.18.29.09.5

10.511.210.1

11.011.612.211.913.0

14.113.915.0

Con-tribu-tionsfor

socialinsur-

5.85.54.64.85.56.67.37.67.78.3

10.511.712.313.816.718.019.821.823.4

5.55.14.54.95.97.17.47.48.1

9.310.612.212.414.9

17.618.420.5

Expenditures

Total

56.631.732.340.042.245.366.676.274.5

68.169.576.582.890.392.297.7

105.7113.2119.0

37.031.135.441.641.058.071.677.769.6

68.971.879.787.991.4

93.1102.1109.9

Pur-chases

ofgoodsandserv-ices

41.416.916.621.820.026.547.756.853.945.045.248.350.553.953.154.859.864.468.2

20.615.619.322.219.338.852.958.047.5

45.345.749.752.653.6

53.257.062.6

Transferpayments

Toper-

0)8.38.78.1

11.38.28.79.4

10.612.212.914.618.120.3

21.324.326.2

29.730.9

For-eign(net)

Grants-in-aid

to Stateandlocal

;overn-ments

0)0.2.6

2.93.12.31.81.71.31.61.31.51.31.4

1.61.61.6

9.28.97.78.8

10.98.78.99.7

11.6

12.513.516.020.020.6

22.225.8

0.91.51.82.12.42.42.52.82.82.93.13.64.56.0

7.37.8

1.11.72.02.22.32.52.62.82.9

3.03.34.15.46.7

6.37.07.8

Netin-ter-est

paid

Subsi-dieslesscur-rentsur-plus

ofgov-ern-

mentnter-

prises*

3.94.24.24.34.44.64.84.84.94.95.05.55.65.8

6.96.96.67.37.5

4.24.24.34.44.54.74.74.85.0

4.95.25.75.66.4

7.16.66.7

Sur-plusor

defi-cit(-)onin-

comeand

prod-uctac-

count

2.3.7.4.8

1.01.31.1.9

1.01.41.93.12.72.72.73.44.24.03.6

1.6.6.6.7

1.21.31.0.8

1.2

1.62.72.83.02.5

2.84.14.3

-19.311.211.4

.2- . 216.3

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

-1 .16.84.4

—4.9-4 .4

3.3- 2 . 2- 1 . 7- 4 . 3-7 .6

2.212.28.0

- 2 . 59.26.4

- 3 . 9-7 .4- 5 . 8

3.85.72.0

-9 .4- 1 . 1

3.8- 3 . 8- 1 . 7


98.998.495.594.7

92.797.798.9

103.8

105.9108.4108.9

0)

44.144.644.043.4

43.344.745.146.7

48.049.249.950.1

22.921.620.219.9

18.320.621.323.7

23.023.423.5

(')

14.414.513.613.7

13.114.113.914.7

14.615.215.015.3

17.517.617.817.6

18.018.318.618.8

20.320.520.520.7

90.892.994.095.2

99.0101.9102.2105.1

108.3109.0109.8112.5

52.553.153.653.6

55.456.656.559.5

61.962.162.763.7

21.221.922.523.825.025.826.226.1

26.326.326.727.8

1.51.61.51.6

1.61.51.51.6

1.71.71.81.5

5.96.66.56.2

7.07.07.07.0

7.57.97.58.1

7.07.17.17.1

6.96.76.56.4

6.66.76.86.9

2.72.62.82.9

3.04.34.54.4

4.34.34 .34.4

8.15.51.5

- . 4

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

-2.4- . 7- . 90)

* Not available. 2 see footnote 4, Table C-58. * Estimate.* Preliminary estimates by Council of Economic Advisers.5 See Table C-62.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).

242


TABLE C—61.—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 1960-64


Receipts or expendituresFiscal years

1960 1961 1962 1 1963 1 1964

Budget receipts.RECEIPTS

Less:

Plus:

Intragovernmental transactionsReceipts from exercise of monetary authorityTrust 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: 3Less: Realization upon loans and investments, sale of

Government property, etc

Equals: Receipts—National income accounts

EXPENDITURESBudget expenditures

Less: Intragovernmental transactions __.Accrued interest and other non-cash expenditures

(net)Plus: Trust fund expenditures

Government-sponsored enterprise expenditures(net)__ _

Equals: Federal Dayments 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 salesPlus: 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 5

Less: Commodity Credit Corporation foreign currencyexchanges

Adjustments for capital transactions 3

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 assetsOthers

77.8

3.0.1

20.3

95.1

.2

1.4

1.6

1.4

.9

95.5

76.5

3.0

.420.7

.5

94.3

.3

.9

1.6

1.0. 7.1

77.7

3.9.1

23.6

97.2

.2

1.1

1.7

- . 7

1.5

95.5

81.5

3.9

.823.0

.3

.7

1.7

.2

.8

1.0

1.1.1.1

1.3

81.4

.124.3

101.9

.3

1.0

1.8

2.5

.8

« 104. 0

87.8

3.8

1.524.1

1.1

107.7

.3

.9

1.8

.7

1.2

.9

2.21.2.1

85.5

3.9

26.9

108.4

.4

1.1

1.8

1.4

1.4

108.8

94.3

3.9

.927.1

.1

116.8

.4

1.4

1.8

.6

.7

1.0

2.41.4.1

86.9

4.2

29.5

112.2

.4

1.2

1.9

1.0

111.4

98.8

4.2

.528.0

.4

.4

1.3

1.9

.6

.3

1.0

2.41.2.1

Equals: Expendit National income accounts.. 92. 97. 105.7 113.2 119.0

1 Data for 1963 and 1964 are estimates. Receipts reflect new depreciation guidelines and investment taxcredit. For details, see Table C-62.

2 Less than $50 million.3 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 nationalincome and product accounts.

4 Excluding effects of new guidelines and investment tax credit, receipts were $104.8 billion.5 Includes net change in Commodity Credit Corporation guaranteed non-recourse loans and increase in

clearing account.fl Commodity Credit Corporation inventory valuation adjustment.

Sources: Bureau of the Budget and Department of Commerce.

243


TABLE C-62.—Estimated effects of new depreciation guidelines and investment tax credit, 1962-63

[Billions of dollars, calendar years]

Item 1962 1963

Total tax loss, Federal Government _

From depreciationFrom investment credit.

Corporate tax loss.

From depreciationFrom investment credit-

Noncorporate tax loss__.

From depreciationFrom investment credit-

Additional depreciation-

CorporateNoncorporate-

Changes in national income accounts: ]

Federal receipts

CorporateNoncorporate _

Federal deficit

Capital consumption allowances-

National income

Corporate profits before taxes and inventory valuation adjustment _Corporate profits after taxes

Personal incomeDisposable personal income

2.1

- 2 . 1

- 1 . 8- . 3

2.1

2.5

- 2 . 5

- 2 . 2- . 4

- . 3.0

2.3

1.11.01.8

1.0.8.3

.1

.22.5

2.2.3

1.31.0

1.9

1.1.8.4

to to

2.9

2.4.5

- 2 . 3

- 1 . 9- . 4

2.3

2.9

-2.9

-2.4- . 5

- . 5- . 1

1 Unless otherwise indicated, national income account statistics used in the text of this Report and in-cluded in Appendix C are consistent with national income data currently published by the Department ofCommerce. They do not reflect the new depreciation guidelines issued by the Treasury DepartmentJuly 11, 1962, and the investment tax credit provided in the Revenue Act of 1962. Estimates of the effectof these actions are given in this table.

Sources: Department of Commerce, Treasury Department, Bureau of the Budget, and Council ofEconomic Advisers.

244


T A B L E C-63.—State and local government revenues and expenditures, selected fiscal years, 1927-61


Fiscal year *

1927.

1932.1934.1936.1938.

1940.1942.1944.1946.1948.

1950.1952.1953.1954.

1955.1956.1957.1958.1959

19601961.

Revenues by source 2

Total

7,271

7,2677,6788,395

10,41810,90812,35617,250

20,91125,18127,30729, 012

31, 07334,66738,16441,21945,306

50, 50554,037

Prop-ertytaxes

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10,73511,74912,86414, 04714, 983

16, 40518,002

Salesandgross

ceiptstaxes

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,6919,4679,829

10, 437

11, 84912,463

Indi-vidualincometaxes

70

7480

153218

224276342422543

788998

,065,127

,237,538,754,759

1,994

2,4632,613

Corpo-ration

netincometaxes

7949113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,266

Reve-nuefromFed-eralGov-ern-

ment

116

2321,016948800

858954855

2,4862,5662,8702,966

3,1313,3353,8434,8656,377

6,9747,131

Allotherreve-nue 3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,2509,699

10, 516

11, 63412,563

Expenditures by function 2

Total

7,210

7,7657,1817,6448,757

9,1908,863

11,02817,684

22, 78726,09827,91030, 701

33, 72436, 71140,37544, 85148,887

51, 87656,201

Edu-cation

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,390

10,557

11,90713,22014,13415, 91917,283

18, 71920,574

High-ways

1,809

1,7411,-5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,8168,5679,592

9,4289,844

Publicwel-fare

151

444

8271,0

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,4853,8184,136

4,4044,720

Allother *

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710,34210, 61911,557

12,19713,39914,94016,54717,876

19, 32421,061

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

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

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.

NOTE.—Data are not available for intervening years.Data for Alaska and Hawaii included beginning 1959 and 1960, respectively.See Table C-52 for net debt of State and local governments.

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

245


CORPORATE PROFITS AND FINANCET A B L E C-64.—Profits before and after taxes, all private corporations, 7929-62


Year or quarter

Corporate profits (before taxes) andinventory valuation adjustment

Allindus-tries

Manufacturing

Total

Dura-ble

goodsindus-tries


Transpor-tation,

commu-nication,

andpublic

utilities

Allotherindus-tries

Corpo-rate

profitsbeforetaxes

Corpo-ratetax

liabil-ity i

Corporate profitsafter taxes

TotalDivi-dendpay-

ments

Undis-tributedprofits

1 9 2 9 . . .

1930 . . .1 9 3 1 . - .1 9 3 2 . . .1 9 3 3 . . .1934 . - .

1935._ .1936- . .1937 . . .1938. . -1939. - .

1940 . . .194K- .1942 . . .1 9 4 3 . . .1944 . . .

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

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

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

I960. . .1961—1962 3 4.

1960: I__-II . _.III._IV..

1961: I .—II. __III._IV-.

1962: I____II___III._IV 3

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

43.142.041.737.247.2

45.645.5

5 51.0

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

25.023.522.918.325.4

24.023.527.6

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

13.4

12.211.714.7

2.5

2.41.3.4

(J).7

1.11.42.01.41.5

2.33.04.55.65.7

5.06.37.49.47.4

8.410.99.3

10.810.99.89.3

11.9

11.811.712.9

2.0

1.2.6.2.1.4

.5

.7

1.0

1.32.03.54.4

2.81.82.12.92.9

4.04.54.84.94.4

5.45.65.55.66.7

7.07.48.0

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

12.812.913.313.315.1

14.614.715.4

9.6

3.3- . 8

-3 .0.2

1.7

3.15.76.23.36.4

9.317.020.924.623.3

19.022.629.533.026.4

40.642.236.738.334.1

44.944.743.237.447.7

45.445.6

5 50.9

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

21.821.220.918.623.2

22.422.3

5 24.8

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

23.023.522.318.824.5

23.023.3

5 26.0

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

11.212.112.612.413.7

14.415.015.9


48.646.244.443.3

40.145.046.051.1

50.450.751.0(6)

26.624.023.122.3

19.422.924.027.5

27.027.128.1(6)

14.612.211.410.7

8.711.212.114.9

14.214.315.3(6)

12.011.811.711.6

10.711.711.912.6

12.812.812.8(6)

7.07.17.06.9

6.77.27.58.0

8.18.07.9

(6)

15.115.114.314.1

14.014.814.515.6

15.415.714.9(6)

49.246.443.342.8

39.844.846.351.4

50.150.951.1U6)

24.322.921.421.1

19.421.922.625.1

24.424.924.9(6)

24.923.521.921.7

20.322.923.726.3

25.626.126.1(6)

14.314.214.414.5

14.714.814.915.5

15.815.815.816.4

2.4

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

- . 7- . 2

1.2

2.44.95.26.05.7

3.67.7

11.713.38.5

13.610.78.38.97.0

11.811.39.76.4

10.8

8.68.3

5 10.1

10.69.27.57.1

5.68.18.7

10.8

10.310.3

1 Federal and State corporate income and excess profits taxes.2 Less than $50 million.s 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.« See Table C-62.6 Not available.


246


TABLE C-65.—Relation of profits after taxes to stockholders' equity and to sales, private manu-facturing corporations, by industry group, 7958—62

Quarter

Allpri-vateman-ufac-tur-ingcor-

pora-tions

Durable goods industries

Lum-berand

woodprod-ucts(ex-cept

furni-ture)

Fur-nitureandfix-

tures

Stone,clay,andglassprod-ucts

Pri-maryironandsteelin-

dus-tries

Pri-marynon-fer-rousmetal

in-dus-tries

Fab-ri-

catedmetalprod-ucts

Ma-chin-ery(ex-ceptelec-

trical)

Elec-tricalma-

chin-ery,

equip-ment,andsup-plies

Mo-tor

vehi-clesand

equip-ment

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 1957 SIC '

1958: IIIIIIIV

1959: III ___.IIIIV

1960: IIIIIIIV

1961: IIIIIIIV

1962: IIIIII

BASED ON 1957 SIC

1958: IIIIIIIV

1959: IIIIIIIV

1960: IIIIIIIV

1961: IIIIIIIV

1962: III .Ill

6.87.89.0

10.7

10.012.49.69.6

9.89.98.78.4

6.89.28.8

10.5

9.010.39.2

0.23.1

11.08.4

6.111.312.9

7.0

3.36.24.6. 3

- . 66.26.83.7

1.47.66.6

2.03.48.6

11.0

6.29.1

11.78.3

5.55.88.26.5

—1.14.07.09.6

4.67.2

10.8

3.411.014.711.4

8.017.415.79.8

6.713.111.97.8

2.910.911.79.7

3.711.811.9

5.36.56.5

10.4

11.716.7

- 2 . 76.3

12.18.04.04.6

3.27.06.48.0

7.65.83.4

5.74.65.67.9

8.210.3

6.76.7

8.08.26.85.5

6.18.06.18.1

8.28.85.8

5.07.38.87.9

5.99.7

10.95.6

5.36.97.23.0

2.57.37.76.2

6.39.88.6

5.67.77.17.0

7.112.510.78.5

8.19.76.95.6

5.79.17.88.5

8.110.89.2

8.39.19.9

13.4

10.712.712.114.3

10.410.0

9.18.6

7.38.28.1

12.0

9.210.49.5

8.35.91.5

16.9

19.120.5

8.010.8

18.516.1

6.113.2

8.013.26.3

18.1

16.818.39.3

11.610.310.310.6

7.89.66.66.7

6.77.85.33.6

6.48.38.28.1

9.911.710.3

7.09.6

12.213.6

10.812.014.514.8

11.612.111.910.8

7.19.9

11.613.5

9.812.612.0

Profits after taxes per dollar of sales—cents

3.43.84.44.9

4.75.54.64.5

4.74.64.34.0

3.54.44.34.8

4.34.74.4

0.11.65.03.8

3.04.75.43.2

1.72.72.1

.1

- . 32.93.01.7

.73.22.7

0.71.22.83.2

2.02.83.42.4

1.91.92.62.1

- . 41.32.12.9

1.52.13.2

2.77.28.87.3

5.79.89.16.4

5.08.27.45.4

2.46.87.06.2

2.86.96.8

4.24.95.07.1

7.18.1

- 3 . 14.8

7.05.33.23.9

2.75.04.65.7

4.94.02.6

4.73.84.45.8

6.07.05.15.0

5.96.05.24.3

4.85.94.85.8

5.86.24.5

2.33.23.63.2

2.63.84.12.3

2.42.93.01.3

1.23.03.12.4

2.73.83.3

3.03.93.93.7

3.85.85.34.3

4.14.53.63.0

3.24.64.24.4

4.35.14.6

3.23.53.94.7

4.04.54.44.8

3.93.63.53.2

2.93.23.34.3

3.53.83.7

3.72.91.06.8

7.47.84.25.0

6.96.63.55.8

4.15.83.87.5

7.17.44.9

2.72.32.42.5

2.02.21.51.5

1.61.81.3

. 8

1.51.81.91.8

2.22.52.3

3.85.06.36.3

5.76.07.36.8

6.06.26.25.3

4.05.36.06.2

5.16.16.0

3.65.7

13.79.2

7.27.1

12.410.2

5.77.9

11.511.6

5.97.2

12.613.7

6.87.3

12.3

1.52.24.83.3

2.92.64.63.7

2.43.14.14.1

2.52.84.24.7

2.72.84.4


247


TABLE G—65.—Relation of profits after taxes to stockholders'' equity and to sales, private manu-facturing corporations, by industry group, 7958—62—Continued

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-icals?and

alliedprod-ucts

Petro-leumrefin-ing

Prod-ucts ofpetro-leumandcoal(ex-cept

petro-leumrefin-ing)

Rub-berandmis-cella-neousplasticprod-ucts

Leatherand

leatherprod-ucts

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

BASED ON 1957 SIC1958: I

IIIIIIV

1959: IIIIIIIV

1960: I—IIIIIIV

1961: IIIIIIIV

1962: IIIIII

BASED ON 1957 SIC1958: I

IIIIIIV

1959: IIIIII.—IV

1960: IIIIIIIV

1961: IIII l lIV

1962: IIIIII

6.88.59.89.7

7.89.5

10.49.4

7.68.89.88.7

7.29.2

10.09.1

7.18.9

10.1

11.813.314.514.3

12.014.214.412.8

12.013.613.714.2

12.014.114.314.2

11.712.913.7

0.62.55.15.8

5.98.17.68.6

6.66.15.75.0

2.64.36.07.1

5.36.36.0

3.31.59.45.5

8.67.5

10,18.1

5.26.9

11.96.8

2.12.6

11.212.3

6.77.4

11.3

7.07.97.99.3

8.510.29.60.6

8.59.38.28.1

6.68.37.39.1

7.48.78.0

8.49.4

11.56.6

9.812.014.98.8

11.310.211.89.0

7.56.8

11.28.4

7.711.111.6

9.811.011.812.8

13.015.614.111.9

12.513.612.110.6

9.813.211.812.2

11.513.512.2

8.98.2

10.412.3

10.19.49.7

10.1

9.88.8

10.311.5

10.69.69.6

11.3

10.08.89.7

-2.48.3

12.46.2

4.013.619.37.2

.98.3

22.18.8

-6.614.420.618.3

. 011.216.7

5.38.7

11.510.8

10.013.111.19.9

9.810.58.27.9

6.710.69.2

10.7

9.110.98.5

Profits after taxes per dollar of sales—cents

1.82.22.52.4

2.12.52.72.5

2.12.42.62.2

1.92.42.62.3

1.92.32.7

5.15.25.55.6

5.25.55.65.2

5.25.45.55.8

5.35.75.95.9

5.45.55.8

0.31.22.32.4

2.53.23.03.3

2.82.52.52.1

1.21.82.52.7

2.22.52.4

0.7. 3

1.71.0

1.61.41.81.4

1.01.32.01.1

.4

. 51.82.1

1.31.41.9

4.84.84.65.3

5.05.55.25.2

4.95.44.84.8

4.14.84.35.2

4.44.94.5

2.93.44.12.3

3.64.25.12.9

4.03.63.92.9

2.62.33.72.7

2.63.63.9

6.46.77.17.6

7.78.58.17.2

7.67.87.46.9

6.57.87.47.6

7.27.67.3

8.28.29.9

11.3

9.39.49.59.9

9.48.9

10.211.0

10.49.99.8

11.1

9.58.89.5

- 1 . 53.54.22.9

1.95.77.13.3

.53.26.43.1

- 3 . 04.96.06.1

.04.35.4

2.23 .34.43.9

3.94.44.13.7

3.83.93.33.2

2.94.23.84.2

3.74.13.4

4.13.28.3

6.98.98.79.2

10.46.23.6fl.O

3.32.64.76.9

6.35.26.4

1.31.02.41.9

1.92.42.22.4

2.71.6.9

1.4

.71.21.6

1.61.41.6

i 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 and Securities and Exchange Commission.

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

248


TABLE C-66.—Relation of profits before and after taxes to stockholders' equity and to sales,private manufacturing corporations, by asset size class, 1958-62

Quarter

BASED ON 1957 SIC 1

1958: I _ . ..III I II V

1959: I __IIIII .IV

1960; IIII I IIV

1961: II II I IIV

1962: IIII I I

BASED ON 1957 SIC i

1958: II IIIIIV

1959: IIIIIIIV _ .

I960* IIII I II V

1961: II IIII -I V

1962: II IHI

Asset size class (millions of dollars)

All assetsizes Under 1 l t o 10 10 to 100 100 to 1,000 1,000 and

over

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

Beforetaxes

12.913.915.918.8

18.723.117.116.8

18.418.015.414.8

12.616.815.818.5

16.718.916.6

Aftertaxes

6.87.89.0

10.7

10.012.49.69.6

9.89.98.78.4

6.89.28.8

10.5

9.010.39.2

Beforetaxes

5.511.416 57.8

12.520.421.18.8

11.715.216.75.0

6.313.715.812.5

10.619.819.8

Aftertaxes

0.45.49 32.5

5.711.712.43.3

5.08.09.0.5

.96.88.46.3

4.611.711.7

Beforetaxes

9.813.317 114.9

15.120.219.814.6

14.116.414.69.2

8.314.716.816.1

14.018.117.8

Aftertaxes

3.56.08 37.3

6.910.19.97.0

6.37.66.93.6

2.66.98.27.7

5.98.88.6

Beforetaxes

13.014.416.918.5

17.522.420.719.0

17.117.916.314.5

11.816.316.317.3

14.617.817.1

Aftertaxes

6.37.28.59.7

8.711.410.510.0

8.49.08.27.4

5.68.38.18.9

7.19.08.6

Beforetaxes

14.215.717.820.2

19.223.817.618.4

18.518.316.916.2

13.917.117.118.3

16.318.116.4

Aftertaxes

7.48.39.4

11.2

10.112.59.4

10.4

9.810.19.19.2

7.59.19.2

10.3

8.69.78.7

Beforetaxes

14.312.312.321.4

21.724.512.115.9

21.919.013.317 4

14.418.013.621.4

20.120.215.6

Aftertaxes

9.58.89 1

14.2

12.914.38.6

10.7

13.011.59.1

11.4

9.511.29.2

13.5

12.111.89.9

Profits per dollar of tales—cents

Beforetaxes

6.46.87.78.6

8.910.28.27.9

8.78.47.67.1

6.58.07.78.5

8.08.67.9

Aftertaxes

3.43.84.44.9

4.75.54.64.5

4.74.64.34.0

3.54.44.34.8

4.34.74.4

Beforetaxes

1.32.53.61.6

2.84.24.31.8

2.63.23.51.1

1.42.93.42.6

2.34.14.2

Aftertaxes

0.11.22.1

. 5

1.32.42.5.7

1.11.61.9.1

.21.51.81.3

1.02.42.4

Beforetaxes

3.85.06.15.3

5.46.66.74.0

5.05.65.13.2

3.04.85.55.1

4.75.65.6

Aftertaxes

1.42.32.92.6

2.03.33.42.4

2.22.62.41.3

.92.32.72.5

2.02.72.7

Beforetaxes

6,57.08.18.fi

8.40.00.58.7

8.18.27.76.0

6.07.67.77.9

7.08.07.8

Aftertaxes

3.13.54.04.5

4.25.04.84.5

4.04.13.93.5

2.83.93.84.1

3.44.03.9

Beforetaxes

7.58.08.99.7

9.610.98.89.1

9.39.08.78.3

7.48.48.58.9

8.08.68.1

Aftertaxes

3.04.24.76.4

5.05.74.76.1

4.95.04.74.7

4.04.54.65.0

4.34.64.3

Beforetaxes

10.69.7

10.414.9

15.216.410.212.2

14.513.210.612.7

11.613.611.415.2

14.214.012.0

Aftertaxes

7.06.07.70.0

9.00.67.38.2

8.68.07.38.3

7.78.57.79.5

8.58.27.6

i Standard Industrial Classification.

NOTE.—Data on a comparable basis are not available for earlior 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.

249


TABLE C-67.—Sources and uses of corporate funds, 1951-62 1


Source or use of funds

Total uses . . . -

Plant and equipment outlaysInventories (book value)Customer net receivables3

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 liabilityOther liabilitiesBank loans and mortgage

loansNet new issues _

Discrepancy (uses less sources)

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

?,7 3

22.41.33.1

.1

.4

38,1

17.8

7.4

10.4

10.3

- 3 . 12.4

3.17.9

- . 8

1953

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

4?, 4

27.8

10.5

17.3

14.6

—1.73.0

5.47.9

- 2 . 9

1957

37 9

32.72.12.1

- . 31.3

40 1

28.0

8.9

19.1

12.1

- 2 . 22.1

1.710.5

- 2 . 2

1958

31 5

26.4- 2 . 4

2.9

2.71.9

35.7

26.0

5.7

20.3

9.7

- 2 . 51.7

1.09.5

- 4 . 2

1959

46 8

27.76 65.6

2.94.1

51 9

31.1

9.5

21.6

20.8

2.13.7

7.17.8

- 5 . 0

1960

38.5

30.82.65.1

- 3 . 13.1

41 5

30.4

7.3

23.1

11.1

- 1 . 51.6

3.08.0

- 3 . 0

1961

42.3

29.61 83.6

2.54.9

45 7

32.0

7.3

24.8

13.7

.61.7

1.89.6

- 3 . 4

1962 3

47.1

32.32 66.3

.75.3

52.0

35.3

9.1

26.2

16.7

1.53.0

5.07.2

-4 :9

1 Excludes banks and insurance companies.2 Preliminary estimates.3 Receivables are net of payables, which are therefore not shown separately.* Less than $50 million.Source: Department of Commerce based on Securities and Exchange Commission and other financial

data.

250


TABLE C-68.—Current assets and liabilities of United States corporations, 7939—62 l


End of year orquarter

1939

19401941194219431944

19451946

194719481949

19501951195219531954

19551956195719581959

19601961

I960: I . .II.III.IV.

1961: I._II.IllIV.

1962: I . .II.III.

Current assets

54.5

60.372.983.693.897.2

97.4108.1

123.6133.0133.1

161.5179.1186.2190.6194.6

224.0237.9244.7255.3277.3

286.0303.0

1.1281.8284.6286.0

285.4290.2294.9

i.O

305.7310.5317.5

10.8

13.113.917.621.621.6

21.722.8

25.025.326.5

28.130.030.831.133.4

34.634.834.937.436.3

36.139.0

33.033.734.236.1

33.935.236.039.0

35.636.136.3

2.2

2.04.0

10.116.420.9

21.115.3

14.114,816.8

19.720.719.921.519.2

23.519.118.618.822.8

19.919.4

22.621.019.519.9

19.719.718.619.4

20.219.318.8

0.1.6

4.05.04.7

2.7.7

22.1

23.927.423.321.921.8

23.230.0

38.342.443.0

1.12.72.82.62.4

2.32.62.82.82.9

3.13.4

2.92.92.93.1

3.23.13.23.4

3.43.33.4

55.758.864.665.971.2

86.695.199.4

106.9117.7

125.1134.5

119.0121.4124.5125.1

124.2127.9131.5134.5

136.0140.0145.4

18.0

19.825.627.327.626.8

26.337.6

44.648.945.3

55.164.965.867.265.3

72.880.482.281.988.4

91.695.2

92.392.492.991.6

93.392.693.595.2

97.798.7

100.3

1.4

1.51.41.31.31.4

2.41.7

1.61.61.4

1.72.12.42.43.1

4.25.96.77.59.1

10.211.5

10.210.410.510.2

11.111.712.111.5

12.713.113.3

Current liabilities

30.0

32.840.747.351.651.7

45.851.9

61.564.460.7

79.892.696.198.999.7

121.0130.5133.1136.6153.1

157.0165.6

153.5154.8156.3157.0

154.3155.5159.0165.6

166.7169.4175.4

0.6.8

2.02.21.8

21.9

22.625.624.024.125.0

24.831.5

37.639.337.5

.41.32.32.22.4

2.32.42.31.71.7

1.81.8

1.81.81.81.8

1.81.71.81.8

1.81.81.9

47.953.657.057.359.3

73.881.584.388.799.3

103.1109.5

100.1101.8102.4103.1

101.4102.8104.5109.5

109.5111.6115.7

1.2

2.57.1

12.616.615.5

10.48.5

10.711.59.3

16.721.318.118.715.5

19.317.615.412.915.0

13.514.1

13.612.613.113.5

11.811.412.414.1

13.613.614.6

6.9

7.17.28.78.79.4

9.711.8

13.213.514.0

14.916.518.720.722.5

25.729.031.133.337.0

38.640.3

38.038.639.038.6

39.540.340.3

41.842.443.2

Network-ing

capi-tal

24.5

27.532.336.342.145.6

51.656.2

62.168.672.4

81.686.590.191.894.9

103.0107.4111.6118.7124.2

129.0137.4

126.6127.0128.4129.0

131.1134.7136.0137.4

139.0141.1142.1

1 All United States corporations, excluding banks, savings and loan associations, and insurance companies.Year-end data through 1959 are based on Statistics of Income (Treasury Department), covering virtually allcorporations in the United States. Statistics of Income data may not be strictly comparable from year toyear because of changes in the tax laws, basis for filing returns, and processing of data for compilation pur-poses. All other figures shown are estimates based on data compiled from many different sources, includingdata on corporations registered with the Securities and Exchange Commission. As more complete informa-tion becomes available, estimates are revised.

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

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

Source: Securities and Exchange Commission.

251


TABLE C-69.—State and municipal and corporate securities offered, 7934—62 *


Year or quarter

1934

19*35193619371938 - -1939 . -

19401941194219431944 __

19451946194719481949 -__

1950195119521953. _ - . .1954

19551956195719581959

196019611962 ».

I960- II II I IIV

1961: III— ._ - .I I IIV. .- ._

1962: I . . .IIIIIIV 6 .

Stateand

munici-

curitiesofferedfor cash(prin-cipal

amounts)

939

1,2321,121

9081,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894,4015, £586,969

5,9775,4466,9587,4497,681

7,2308,3608,514

1,8852,2521,7641,329

2,1222,3701,7662,101

2,6102,5341,6271,743

Corporate securities offered for cash 2

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

10,15413,14710,820

2,2652,5372,5202,832

1,9925,3522,5663,237

2,3783,2512,1843,007

Com-monstock

19

22272285

2587

1081103456

163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,2731,321

435582337310

3541,582

571765

490460200171

Pre-ferredstock

6

86271406

8698

183167112124369

7581,127

762492425

631838564489816

635636411571531

409449443

10011092

106

961928280

16180107140

3

Bondsand

notes

371

2,2244,0281,6182,0441,980

2,3862,390

917990

2,670

4,8554,8825,0365,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,4259,056

1,7291,8452,0912,417

1,5433,5781,9132,392

1,8712,6111,8772,697

Proposed uses of net proceeds 4

Total

384

2,2664,4312,2392,1102,115

2,6152,6231,0431,1473,142

5,9026,7576,4666,9595,959

6,2617,6079,3808,7559,365

10,04910,74912,66111,3729,527

9,92412,87410, 609

2,2142,4652,4672,778

1,9515,2612,5013,161

2,3203,1842,1462,958

New money

Total

57

208858991681325

569868474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7,9579,663

11,7849,9078,578

8,75810,8298,380

1,9722,1812,2222,384

1,6484,2722,1202,790

2,0092,6071,5652,200

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213,724

2,9665,1106,3125,6475,110

5,3336,7099,0407,7926,084

5,6627,5395,712

1,1801,4121,4801,589

9523,3731,3961,818

1,4261,9011,0261,358

Work-ing

capi-tal

26

96478417177155

145207187167405

4421,1641,1821,708

882

1,0411,4211,8682,3131,670

2,6242,9542,7442,1152,494

3,0973,2902,669

791768742795

695899723972

582705539842

Retire-mentof se-

curities

231

1,8653,3681,1001,2061,695

1,8541,583

396739

2,389

4,5552,8681,352

307401

1,271486664260

1,875

1,227364214549135

271895737

69833980

14256663

123

62179236260

Otherpur-poses

95

19320414822295

19217217310096

267610524722952

984589537535709

864721663915814

8951,1501,491

174201205315

161423318248

250399345498

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.

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

and other costs of notation.8 Preliminary.

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

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

252


TABLE C-70.—Common

Year or month

1939

19401941 -194219431944

1945 - . . .1946194719481949

1950195119521953 .1954

195519561957 - - - - -19581959

I96019611962

1961: JanuaryFebruary. _.MarchAprilIVlayJuneJulyAugustSeptember-OctoberNovember. .December. _

1962: JanuaryFebruary. __MarchAprilM a yJune _JulyAugust. _September-OctoberNovember-December .

Commonstockpricesindex,

1957-59= 100(SEC) i

26.8

25.323.020.126.629.0

35.240.135.135.634.341.449.652.351.961.781.892.689.893.2

116.7113.9134 2127.1120.9125.4129.8133.0134.9132.8132.7137.4136.2138.0144.0145.8140.4142.8142.9138.0128.3114.3116.0119.5117.9114.3122.8128.0

stock prices, earnings,

Commonstockprice/

earningsr a t i o -

industrials(Standard& Poor's) »

12.17

11.039.65

10.1417.5816.95

22.9911.019.145.866.767.519.62

10.229.68

12.1712.6513.5412.9117.7119.7918.9219.57

23.32

21.18

20.54

19.57

19.99

15.50

15.98

Commonstock

yields,200

stocks(Moody's)

Percent

4.15

5.316.256.674.894.81

4.193.975.135.786.63

6.276.125.505.494.784.064.074.334.053.313.603.073.373.283.223.153.153.098.163.053.003.032.952.932.913.032.993.003.203.483.793.553.503.693.603.413.37

and yields and stock market credit, ;f939-62

Stock market credit

Customer credit (excluding U.S.Government securities)

Total Net debitbalances 3

Bank loansto

"others" *

Bank loansto brokers

anddealers 5

Millions of dollars

(6)

(6)(6)(6)

00

1,374976

1,032968

1,249

1,7981,8261,9802,4453,436

4,0303,9843,5764,5374,4614,4155.6025,4944,4244,5324,7875,1905,3865,3675,3555,3495,3115,3335,4605,6025,4645,4265,4575,4915,4084,9384,8765,0735,1565,1655,2855,494

(6)

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

942473517499821

1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1253,2533,3583,6013,9364,0604,0243,9913,9723,9914,0294,1414,2594,1114,0664,0834,0794,0003,6053, 5623,7733,8873,8643,9514,125

(8)

(6)00(6)(6)

353

4326 503

515469428

561573

6 648780

1,048

1,2391,1611,094

6 1,2526 1, 181

1,193fi 1,343

1,369

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

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

1,3531,3601,3741,4121,4081,333

1,3141,3001,2691,3011,3341,369

715

584535850

1,3282,137

2,78261,471

7841,3311,608

1,7421,419

6 2,0022,2482,6882,8522,2142,190

6 2,5696 2,584

2,6143,3984,3861,9692,0011,8052,3972,4392,4412,7322,1362,6372,7432,5833,3982,3402,9853,0403,1742,6102,5332,0442,2243,3663,3822,7384,386

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.

4 Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except U.S. Government obligations. From 1953 through June 1959, loans for purchasing orcarrying U.S. Government securities were reported separately only by New York and Chicago banks.Accordingly, for that period any loans for purchasing or carrying such securities at other reporting banksare included. Series also revised beginning July 1946, March 1953, July 1958, and April 1961. Data are forlast Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.

5 Loans by weekly reporting member banks for purchasing or carrying securities, including U.S. Govern-ment obligations. Series revised beginning July 1946, January 1952, July 1958, July 1959, and April 1961.Data are for last Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.

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

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

253


TABLE C-71.—Business population and business failures, 7929-62

Year or month

Operating busi-nesses and business

turnover (thou-sands of firms) i

Oper-atingbusi-ness-es 2

Newbusi-ness-

Dis-con-tin-uedbusi-ness-es a

Newbusi-ness

incor-pora-tions(num-ber) 3

Business failures 3 *

Busi-nessfail-ure

rate 8

Number of failures

Total Under$100,000

Liability sizeclass

$100,000 Totalandover

Amount of currentliabilities (millions

of dollars)

Under$100,000

Liability sizeclass

$100,000andover

192919301931193219331934193519361937 __-193819391940194119421943 _194419451946 __19471948 _194919501951 -1952195319541955 —19561957195819591960196119621961: January. __

February.March. __AprilMayJune

3,0292,9942,9162,8282,7822,8842,9923,0703,1363,0743,222

3,3193,2763,2953,0302,8392,9953,2423,6513,8733,9844,0094,0674,1184,1884,2404,2874,3814,4714,5334,5834,6584,7134,752

275290121146331

423617461393331

348327346352366

408431398397422

438437

318271386337175

176209239282306

290276276299319

314342335347346

384398

()132,916112,63896,10185,491

92,92583,64992,819102, 545117,164

139,651140,775136,697150,280193,067

182,713181, 535

4,780

4,740

JulyAugustSeptember.OctoberNovember.December.

1962: January....February..MarchAprilMayJune

4,750

"4,760

4,770

1780

JulyAugustSeptember.October....November.December

4,790

~4,~800

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

14,48315,07913,61615,49214,04514,802

18,34314,36517,19615, 65316,40815,234

14,95714,95512,77715,31812,914

103.9121.6133.4154.1100.361.161.747.845.961.1

^69.6

63.054.544.616.46.5

4.25.214.320.434.4

34.330.728.733.242.0

41.648.051.755.951.8

57.064.460.8

61.164.2eg. 960.864. S60.762.57% 467.569.563. 86S.6

62.961.159.465.068.767.3

68.362.562.266.359.456.0

22,90926,35528,28531,82219,85912,091

12,2449,6079,49012,83614,768

13,61911,8489,4053,2211,222

8091,1293,4745,2509,246

9,1628,0587,6118,86211,086

10,96912,68613,73914,96414,053

15,44517,07515,7821,4041,4491,6101,4411,5451,4031,2751,6041,2851,4461,3351,2781,4471,3531,4901,5041,3781,2811,1651,3191,1181,4101,2161,101

22,165

25,40827,23030,197'18,88011,421

11,6919,2859,20312,55314,541

13,40011,6859,2823,1551,176

7591,0023,1034,8538,708

8,7467,6267,0818,07510,226

10,11311,61512,54713,49912,707

13,65015,00613, 7721,2411,2741,3691,2711,3701,2061,1331,4121,1431,3011,1451,141

1,2491,2051,3211,3461,1951,1101,0421,109970

1,2071,059

744

9471,0551,6257 979670553322287283

7 227

2191631236646

50127371397538

416432530787860856

1,0711,1921,4651,346

1,7952,0692,010163175241170175197

142192142145190137

198148169158183171

123210148203157142

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

1,090.11,213.6

81.588.1

126.686.180.583.869.2

102.7116.770.3

119.265.5

106.690.580.9

121.891.588.591.6

146.896.2

119.198.881.3

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

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.533.031.733.332.134.828.928.934.127.531.227.327.330.130.432.631.029.927.727.227.926.930.327.525.3

221.8364.8382.2495.7

7 242.0195.4175.1100.481.4

106.47 49.7

46.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.148.656.493.354.045.755.040.268.689.139.092.038.276.560.148.390.861.660.864.4

118.969.388.871.356.0

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.« 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.

254


AGRICULTURETABLE G—72.—Income from agriculture, 7929-62

Year or quarter

Income re-ceived by totalfarm popula-

tion fromagricultural

sources

Total i Farmwages2

Income received from farming

Realized gross

Total 3

Cash re-ceiptsfrom

market-ings

Produc-tion ex-penses

Net to farmoperators

Exclud-ing netinven-tory

change

Includ-ing netinven-

torychange4

Net income perfarm includingnet inventory

Currentprices

1962prices a

1961:

III.IV..

1962: 17_

I I I 7.I V 7..

Billions of dollars

1 9 2 9 -

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 7.

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

13.513.413.615.413.2

13.814.914.8

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

1.81.81.8

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

37.939.940.6

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

34.035.235.7

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

21.922.623.425.326.2

26.227.127.7

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

11.512.011.012.611.3

11.712.812.9

6.1

4.33.32.02.62.9

5.34.36.04.44.5

4.66.69.9

11.811.8

12.415.315.517.812.9

14.016.315.313.312.7

11.811.611.813.511.4

12.013.013.0


39.439.440.140.8

40.340.340.541.4

35.534.535.235.8

35.435.335.536.5

26.927.027.227.3

27.527.627.727.9

12.512.412.913.5

12.812.712.813.5

12.812.713.113.6

12.912.812.813.6

Dollars

943

650506305382434

778643911675697

7201,0441,6001,9421,967

2,0802,5742,6483,0652,259

2,4793,0092,9512,6642,645

2,5292,5742,6953,2012,775

3,0443,4223,525

1,813

1,3251,207

8471,0321,059

1,8521,5312,0701,6461,700

1,7562,3733,1373,4683,278

3,3553,7303,2693,6062,722

2,9513,3073,2082,9272,875

2,7492,7682,8073,2662,832

3,0753,4573,525

3,3603,3303,4403,570

3,5003,4703,4703,690

3,3903,3603,4703,610

3,5003,4703,4703,690

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.8 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 C-ll and C-14 because of revisions bythe Department of Agriculture not yet incorporated into the national income accounts of the Departmentof Commerce.

« Estimates of number of farms revised from 1951 according to new 1959 Census of Agriculture definition.«Income in current prices divided by the index of prices paid by farmers for family living items on a

1962 base.7 Preliminary.

Source: Department of Agriculture.

255


TABLE C-73.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-62

[1957-59=100]

Year or month

1929

1930193119321933 _1934

19351936 - -193719381939 __

19401941194219431944

1945 _1946194719481949

19601951195219531954

1955195619571958... _1959

I96019611962 7.

1961: JanuaryFebruaryMarchApril..MayJune _-

JulyAugust .. _September. .OctoberNovember. _December...

1962: JanuaryFebruary. _.MarchAprilMayJune

JulyAugustSeptember..OctoberNovember..December.._

Prices received by farmers

Allfarmprod-ucts1

61

5236272937

4547514039

4251668808 82

8 86

114119103

107125119105102

96959710499

9899100

100101101999897

9799100999999

10010110110010099

99101103101101100

Crops

Allcrops1

61

5234263244

4649533637

4148658489

91102118114100

104119120108108

10410510110099

99101104

9899101102104104

103102103101100100

101101105106109106

104103104101102100

Foodgrains

55

4427213143

4651573534

4046577078

8195128118103

106115116111110

1071061069896

9699107

989998959694

9599101102103103

103103105106109109

108107107107109109

Feed grainsand hay

Total

74

6746313660

6865794546

54587296108

106127161162112

122143147130128

1161151059798

95

97

929595919596

989798979495

9696969810099

989597969396

Feedgrains

77

6844283660

7068844544

54587397109

104131171170109

123147150132130

1161161059798

939495

899293899495

989698969193

939394959898

989496949094

Cot-ton

57

4024192639

3838362728

3243606466

699110510494

108129119102105

10410310197102

97100102

9087939999

100

102106106110107103

989495103106105

105105107105103100

To-bacco

35

2920182232

3533413631

2832516672

7478777882

8390898991

909396100104

103109110

105107107107107107

107111112111111112

111112112112112112

112107108107107104

Oil-bear-ingcrops

62

4832192545

5552564242

4560808897

100114158153106

120148129122133

1091111069896

93112109

101109115125125114

114113106106108109

109111110111111111

110107104104107108

Livestock and products

Alllive-stockandprod-ucts l

62

5238282732

4446494341

4253667776

8294111122106

10813011910497

908894106100

989799

102102100979392

939798989799

10010099959494

9699103101102100

Meatani-mals

50

4330201922

3838423736

3546606662

8 67

107117101

1101331159492

807689109102

9697101

99101100989593

949898969597

9999100989899

101103106102102100

Dairyprod-ucts

65

5543333440

4549514543

475563

«778 86

8 89810410611798

9711211810496

969910199100

10110198

105103100979593

97100104106108106

10410299949090

9397101103104102

Poul-tryandeggs

102

8162514756

7473706961

627796121112

126127141153140

118144130140113

1211121021089G

1019291

106107101928784

878?878S8S92

949792888281

848£979f9€9(


256


TABLE G—73.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929—62—Continued

Year or month

1929

19301931193219331934

19351936193719381939 „

1940194119421943 .1944

19451946194719481949

1950.19511952 ..1953 .1954

19551956.19571958—1959

1960196119627.

1961: January ___February _MarchAprilMayJune

JulyAugustSeptember. _OctoberNovember. _December __

1962: JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptember. _OctoberNovember..December...

[1957-59= LOO]

Prices paid by farmers

Allitemsin-

terest,taxes,andwagerates(parityindex)

55

5244383741

4242454242

4245525862

6571828986

8897989595

949598100102

102103104

103103103103103103

103103103103103103

104104104105105104

104104105105105105

Commodities and services

Allitems

55

5144383843

4545484544

4548556164

6672859288

901001009696

959698101101

101101103

102102102102102101

101101101101101102

102103103103103103

103103103103103104

Fam-ily

livingitems

54

50433738434343454342

42455258616471838885

8694959494

949699100101

101102103102102101102102101

101101102102102102

102103103103103103

103103103103103103

Production items

Allproduc-tion

items 1

56

5243383844

464650474647505763666773859591

941041049797969598101101

101101103102102103102101101

101101101101101102

102102103103103102

102102103103103104

Feed

68

61433237525355624747

5054667887

86100118125103

105118126114113

10610310199100

97981009798999810099

999999979799

999999999999

9999100100100102

Motorve-

hicles

363535343436

3738394240

4042454751

5355637178

7883878686

878996100104

102101105102

102

101

101

101101

104105

106

106

105

105105108108

Farmma-chin-ery

43

434240394041424344434343464849

4951586776

7883868787879196100104

107110111

109

109

110

110

116

111

112

113

Fer-ti-

lizer

85

8375666169

686467676664647176777979889698

94100102103102

102100100100100

100101100

100

101

100

100

— —

In-ter-est 2

120

1161111049283

76706662605755534744

42424344465055616671

76849299109

120130135130130130130130130

130130130130130130

135135135135135135

135135135135135135

Taxes3

58

5958534639

3738383939

4039403939

4045505862

6770737780838994100106

114123131123123123123123123

123123123123123123

131131131131131131

131131131131131131

Wagerates *

32

3024181517

1820222222

2226344554

6266727674

7381878888

89929699105

109110114

109109109111111111

111111111109109109

112112112115115115

114114114USUSUS

Par-ity

ratio •

92

8367586475

8892937877

8193105113108

109113115110100

10110710092898483828580

808080808180797878

788080807979

808080797978798081808079

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).* Monthly data are seasonally adjusted.8 Percentage ratio of prices received for all farm products to parity index, on a 1910-14=100 base.6 Includes wartime subsidy payments.7 Preliminary.Source: Department of Agriculture.

669333 0—63 257


TABLE C-74.—Farm production indexes, 7929-62

[1957-59=100]

Year

1929...

1930...1931...1932...1933...1934...

1935...1936...1937...1938...1939-.-

1940...1941...1942...1943..,1944...

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

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

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

1960...1961 <_.1962«__

Farmout-put i

62

6166645951

6155696768

7073828083

8184818887

8689929393

969795102103

106107108

Total2

73

6977736554

7059817675

7879898388

8589859792

8991959493

969593104103

108107108

Feedgrains

62

5663735633

6038676565

6671817478

7582639180

8175797781

868593101106

10999101

Hayandforage

79

6672746964

8266758175

8686939190

9387848483

8992909292

989410110297

103101106

Foodtrains

68

7479634745

5554747763

6979837288

929511110792

868510910088

83878212197

11510697

Crops

Vege-tables

73

7475767380

8175828181

8384899792

94105919794

9689909593

9610298102100

103111109

Fruitsandnuts

75

7392757671

9070938496

9399988498

891061019298

98100979899

9910394102104

98110108

Cot-ton

120

11313810510578

861011549796

1028810593100

747197122131

82124124134111

1201088993118

116116119

To-bacco

88

9589588063

76689180110

84738181113

114134122115114

117135130119130

12712696100104

112119131

Oilbear-ingcrops

13

1414131113

2116182229

3437566050

6452556761

7165636371

78929111198

105122123

Livestock and products

Totals

63

6465666761

5963626570

7175849186

8683828085

8892929396

99999799104

102107107

Meatani-mals

62

6366677059

5360586371

7276879788

8482817983

8995959498

1031009698106

103107108

Dairyprod-ucts

75

7678797978

7879798182

8489929192

9594939093

9392929798

9910110110099

101103104

Poul-tryandeggs

44

4544444441

4144444548

4954627171

7469686774

7881828487

869495101104

104112110

* 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.

»Includes certain items not shown separately.* Preliminary.Source: Department of Agriculture.

258


TABLE C-75.—Selected measures of farm resources and inputs, 1929-62

Year

Cropsharvested(millionsof acres)1

Total

Exclu-sive ofuse forfeed forhorses

andmules

Live-stockbreed-

ingunits(1957-59=100)2

Man-hours

offarmwork(bil-

lions)

Index numbers of inputs (1957-59=100)

Total

98

9796939186

8889949194

9797100101101

999999100101

z103103102

1021019999102

101101101

Farmlabor

214

212217209209187

196189205191191

190186191188187

174167159156150

140141134128123

1191121039998

928986

Farmreal

estate3

92

9189868786

8889909192

9292918988

8891929595

97989999100

10099100100100

100100100

Me-chani-cal

powerandma-

chinery

38

4038353232

3335384040

4244485051

5458647280

8692969798

999910099101

1009996

Ferti-lizerandlime

21

2116111214

1720242324

2830343843

4553565761

6873808388

90919497109

110114116

Feed,seed,andlive-stockpur-

chases 4

27

2623242424

2331293037

4546576364

7269737269

7280818082

869193101106

109116121

Miscel-laneous

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.

19601961 »______1962 6

365

365371340304

345323347349331

341344348357

354352355356

345344349348346

340324324324324

324304295

298

304303311281247

289269295301286

298304309320326

322323329332338

326326334335335

315316317318

319300291

90878793

9594

104117114

1091071049899

102103103100104

10610410199

100

9798

100

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

15.115.214.413.913.2

12.812.111.210.710.5

10.09.69.3

76

76787976

7072

7374757676

7677787482

85

9191

949895

100105

106109111

1 Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.2 Animal units of breeding livestock, excluding horses and mules.3 Includes buildings and improvements on land.* Nonfarm inputs associated with farmers' purchases.* Preliminary.


259


TABLE C-76.—Farm population, employment, and productivity, 7929-62

Year

Farm popu-lation

(April 1) i

Num-ber

(thou-sands)

As per-cent oftotal

popu-lation 2

Farm employment(thousands)3

Total Familyworkers

Hiredworkers

Farm output

Perunitof

totalinput

Per man-hour

Total Crops Live-stock

Croppro-duc-tionper

Live-stockpro-

ductionper

breed-ingunit

Index, 1957-59=100

1929..

1930..19311932..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..19616.1962 6.

30,580

30,52930,84531,38832,39332,305

32,16131,73731,26630,98030,840

30,54730,11828,91426,18624,815

24,42025,40325,82924,38324,194

23,04821,89021,74819,87419,019

19,07818,71217,65617,12816,592

15,63514,80314,313

25.1

24.824.825.125.825.5

25.324.824.223.823.5

23.122.621.419.217.9

17.518.017.916.616.2

15.214.213.812.411.7

11.511.110.39.89.4

8.78.17.7

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

9,9269,5469,149

8,639

8,3647,8207,5777,5257,384

7,1186,9906,751

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

5,2495,1044,934

3,403

3,1903,1032,8942,8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362,1442,0892,060

2,0171,9211,8951,9551,925

1,8691,8861,817

63

6369696559

6962737472

7275827982

8285828886

8586899091

949696103101

105106107

29

2930312827

3129343536

3739434344

4750515658

6163697376

818792103105

115120123

29

2830312827

3229343636

3840444345

4751515859

6463707275

808591105104

114118118

48

4747474643

4446464850

5051565856

5859616266

6872747680

858992100108

113122126

69

6472686151

6656767374

7677867883

8286829285

8485908988

919293105102

109113117

7070

62

70717575

7580817875

79787982

89899392

939596

100104

105109107

1 Farm population as denned by Department of Agriculture and Department of Commerce, i.e., civilianpopulation living on farms, regardless of occupation. Figures for 1941-59 are revisions of previouslypublished estimates.

2 Total population of United States as of July 1 includes armed forces abroad and Alaska and Hawaiiafter they achieved statehood.3 Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Statistical Reporting Service, differ from those on agricultural employment by the Departmentof Labor (see Table C-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.«Preliminary.Sources: Department of Agriculture and Department of Commerce.

260


TABLE C-77.—Comparative balance sheet of agriculture, 1929-63


Beginningof year

Total

1929..

1930..1931..1932..1933..1934..

1935..1936..1937..1938..1939..

1940..1941.1942.1943.1944.

19451946194719481 9 4 9 . . . . -

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

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

1960196119621963 *.._._

Assets

Realestate

52.955.062.973.784.5

94.0103.3116.127.5134.

131.6150.6166.4162.6158.8

162.6166.3173.8183.1199.7

199.200.0207.5214.1

Live-stock

48.0

47.943.737.230.832.2

34.335.235.234.1

33.634.437.541.648.:

53.961.068.573.776.6

75.86.896.096.694.7

98.1102.4109.5116.5125.4

130.2131.8138.0144.5

Other physical assets

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

15.615.516.3

Ma-chin-eryand

motorvehi-cles

3.2

3.43.33.02.52.2

2.22.42.63.03.2

3.13.34.04.95.3

6.35.25.17.09.4

11.313.015.215.616.3

16.216.517.117.018.5

18.618.218.2

Cropsi

House-holdfur-

nish-ingsand

equip-ment2

2.5

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

8.37.69.3

7.88.08.7

Depos-its

andcur-

rency

4.0

8

8(3)4.24.24.95.05.3

5.66.17.78.59.1

9.710.39.99.9

10.010.510.0

8.98.5

Financial assets

U.S.savingsbonds

I

3.23.54.25.46.6

7.99.4

10.2

9.19.19.49.49.4

9.49.59.49.5

10.0

9.18.78.8

Invest-mentin co-opera-tives

%

8(3)

80.2.4.5

1.12.2

3.44.24.24.44.6

4.74.74.74.64.7

5.05.25.15.15.2

4.74.64.5

Total

0.6

1.01.1

1.21.41.51.71.9

2.12.32.52.72.9

3.13.33.43.6

4.14.34.5

Claims

94.0103.3116.2127.5134.2

131.6150.6166.4162.6158.8

162.6166.3173.8183.1199.7

199.7200.0207.5214.1

Realestatedebt

Otherdebt

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

12.313.114.215.4

Pro-prie-tors'equi-ties

(3)

53.9

42.944.652.463.775.6

85.795.3

107.7118.2122.8

119.1137.5151.8146.5141.7

144.8147.4154.3162.9176.4

175.6174.5179.8184.8

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 1,1962, totaled $964 million.

2 Revised to reflect farm population estimates based on definition of a farm in 1959 Census of Agriculture.For further details of revision, see Agricultural Information Bulletin No. 270.

3 Not available.* Preliminary.


261


INTERNATIONAL STATISTICS

TABLE C-78.—United States balance of payments, 7947-62


Year or quarter Total

Exports of goods and services

Mer-chan-dise i

Mili-tarysales

Income oninvestments

Pri-vate

Gov-ern-

ment

Otherserv-ices

Imports of goods and services

TotalMer-chan-dise i

Mili-tary

expend-itures

Otherserv-

Balanceon

goodsandserv-

1947..1948..1949..

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

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

I960..1961..1962»

1960: I—.II . . .III..

1961: I . . . .II—ILL.IV..

1962: I . .I I .

19,73716,78915,770

13,80718,74417,99216,94717,759

19,80423,59526,48123,06723,476

27,01328,06629,716

16,01513,19312,149

10,11714,12313,31912,28112,799

14,28017,37919,39016,26416,282

19,45919,91520,763

()0)(7)192182

200161375300

335406556

1,0361,2381,297

1,4841,6841,6241,6581,955

2,1702,4682,6122,5382,694

2,8733,3033,556

66102

109198204252272

274194205307349

379479

2,6202,2562,226

2,0972,7392,8452,5642,551

2,880

3,6583,849

3,9974,0634,363

8,20810,3499,621

12,02815,07315,76616,56115,931

17,79519,62820,75220,86123,342

23,18822,92324,831

5,9797,5636,879

9,10811,20210,83810,99010,354

11,52712,80413,29112,95215,310

14,72314,51416,109

455799621

5761,2702,0542,6152,642

2,9012,9493,2163,4353,107

3,0482,9472,971

1,7741,9872,121

2,3442,6012,8742,9562,935

3,3673,8754,2454,4744,925

5,4175,4625,751

11,5296,4406,149

1,7793,6712,226386

1,828

2,0093,9675,7292,206134

3,8255,1434,885


25,93627,14027,13227,844

28,27627,31227,56429,112

29,00830,66029,480

18,62819,50419,76019,944

20,24419,07219,76020,584

20,25221,35620,680

232488280340

284600352388

384612672

2,8362,8482,7123,096

3,3883,0723,1843,568

3,6483,6403,380

348348348352

376480280380

456568412

3,8923,9524,0324,112

3,9844,0883,9884,192

4,2684,4844,336

23,67623,87623,31621,884

21,79222,04023,70824,152

24,24824,91225,332

15,20415,34414,65613,688

13,47613,66815,36015,552

15,68016,12816,520

3,0843,0323,1882,888

3,0803,0242,7962,888

3,0082,9842,920

5,3885,5005,4725,308

5,2365,3485,5525,712

5,5605,8005,892

2,2603,2643,8165,960

6,4845,2723,8564,960

4,7605,7484,148


262


TABLE C-78.—United States balance of payments, 7947-62-^Continued

[Millions o.f dollars]

Year orquarter

Remit-tancesandpen-sions

Governmentgrants and

capital

Grantsandcapi-tal

out-flow

Re-pay-ments

onU.S.loans

U.S. private capital,net

Directinvest-ments

Long-termport-folio

Short-term

For-eigncapi-tal*

Unre-cordedtrans-actions Total3

Over-all balance (surplus ordeficit (-))

Total

Goldandcon-vert-iblecur-ren-cies

Liquid lia-bilities *

Tomone-tary

author-ities

and in-stitu-tions6

Tootherfor-eignhold-

1947—.1948....1949....

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

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

1960...1961...1962»_.

1960:II I - . -I I I . . .IV. _.

1961:II I . . . .III . . .I V . . .

1962:III_—III s.

-715-617

-523-457-545-617-615

-585-665-702-722-791

-842-878-904

-6,415-5,361-5,854

-3,935-3,496-2,809-2,542-2,061

-2,627-2,841-3,233-3,131-3,040

-3,405-4,051

294443205

295305429487507

416479659544

1,054

6361,2741,305

-749-721-660

-621-508-852-735-667

-823-1,951-2,442-1,181-1,372

-1,694-1,475- 1 , 240

- 4 9- 6 9- 8 0

-495-437-214

185-320

-241-603-859

-1,444-926

-850-1,006-1,091

-116187

-149-103

- 9 4167

-635

-191-517-276-311- 7 7

-1,338-1,472

- 7 5-173

83

90243212178240

394653487

22863

335

1,179775

- 2 1477601339173

503543

1,157488412

-592-602-696

4,5671,005

175

-3,580-305

-1,046-2,152-1,550

1,145-935

520-3,529-3,743

-3,925-2,461-1,916

4,5671,005

175

-3,580-305

-1,046-2,152-1,550

-1,145-935

520-3,529-3,743

-3,925-2,461

(10)

2,8501,530

164

1,74353

379-1,161

-298

- 4 1306798

-2,275-731

-1,702-742(10)

1,717-525

11

-1,837-358

-1,425-991

-1 ,252

-1,104-1 ,241

-278-1.254-3 ,012

-1,8621 -361- 5 1 7 - 1 , 2 0 2(10) (10)

Seasonally adjusted annual rates Quarterly totals, unadjusted

-816-820-844-888

-884-884

-892-884

-3 ,072-3 ,332-3 ,304-3 ,912

-3,848-3,216-4,376-4,764

-4,160-4,236-4 ,472

588

5323,404

324836

572880

2,464

-1,296-1,084-1,660-2,736

-1,828-1,076-1,716-1,280

-920-1,600-1,200

-944-836

-940

-480-872-776

-1,

-1,-1,136

-548

-392-812

-2,196-1 ,952

- 1 ,-1 ,556

-888-1,516

- 1 , 2404

844492188

-184

7921,096

28508

1,160464284

16-560-6361,188

-116-1,464

772-I,1

424-536

-1,976

-2,720-3,100-4,6285,252

-1,276704

-3,640-5,632

-1,968-904

-2,876

-641-8911,1911,202

-30889

-9091,333

-462-312-738

-50-94-637-921

-346330

-270-456

-190207

-550

-153-462-596-651

-36329

-405-405

420-529-625

-153 -438-335

42370

74-570-234-472

10437

1 Adjusted from customs data for differences in timing and coverage.2 Other than liquid funds,3 Equals changes in U.S. gold and convertible currencies and liquid liabilities to foreigners.* Minus indicates increase in liabilities.6 To International Monetary Fund (IMF) and foreign central banks and governments.8 To foreign commercial banks and other international and regional institutions not listed in footnote 5

and to other foreigners.7 Not reported separately.8 Preliminary.9 Average of the first three quarters based on seasonally adjusted annual rates.i° Not available.NOTE.—Data exclude military aid and U.S. subscriptions to IMF.Source: Department of Commerce.

263


TABLE C-79.—Major U.S. Government foreign assistance, by type and by area, total postwarperiod and fiscal years 1959-62

[Fiscal years, billions of dollars]

Fiscal year

Total, net

T o t a l pos twar *__

196019611962

Investment in five interna-tional financial institutions4

Total postwar 1

1959I960-19611962 _

Under assistance programs, netTotal postwar *1959I96019611962.

Net grants of military suppliesand services

Total postwar i

I96019611962 _._

Other aid, netTotal postwar *1959-I9601961 -1962

Net grants (less conversions)Total postwar *1959196019611962 _

Net credits (including conver-sions)

Total postwar *•19591960 ___19611962

Other assistance (through netaccumulation of foreign cur-rency claims) *

Total postwar 1

1959 _196019611962..

Total

89.96.04.24.05.3

5.11.4.1.1. 2

84.84.74.13.95.1

30.42. 22.01.71.7

54.42.42.12.23.4

37.81.61.61 81.9

13.57

.1

1.4

3.1.2.4.4.2

WesternEurope

(excludingGreece

andTurkey)

39.8. 7.4

- . 1.4

39.8.7.4

- . 1.4

15.0. 7.8.6.4

24.7

- ! 6

17.2.1.2

1.1

7.0— l- . 4- . 7- . 1

.5

8"1

Near East(including

Greeceand

Turkey)and South

Asia

14.21.51.51.61.6

14.21.51.51.61.6

4.8

.4

.3

.3

9.5.9

1.11.31.3

5.5.5.46

.7

2.4.2.3.4.6

1.5.2.3.3

OtherAfrica

1.1. 1.2.2.4

1.1.1.2.2.4

ii . i. i.2.2.3

.7

.1

.12

.3

(V3

« .

1

Far Eastand

Pacific

21.61.51.51.51.5

21.61.51.51.51.5

9.4. 8.7.7.8

12.2.7.7.8.7

10.9.7.77

.6

1.0.1

.1

.1

.3

3)3)

AmericanRepub-

lics

4.4.6.3.4

1.0

4.4.6.3.4

1.0

.7

. 1

.1

.1

.1

3.7.6.2.3.9

1.0.1.1.1.1

2.4.5.1.2.6

.3

.1

Interna-tional or-

ganiza-tions andunspeci-

fied areas

8.71.6.3.4.4

5.11.4. 1. 1.2

3.6.2.2.3.2

.3

(3)

3.3.2.2.3.2

2.5.1. 1. 2.2

.4

(3)

8

1 Fiscal years 1946-62.2 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.4 Other assistance (net) represents the transfer of United States farm products in exchange for foreigncurrencies, less the U.S. Government's disbursements of the currencies as grants, credits, or for purchases.Also includes the foreign currency claims acquired by the Government as principal and interest collections;since enactment of Public Law 87-128, they are available for the same purpose as farm sales proceeds.


264


TABLE C-80.—United States merchandise exports and imports, by economic category, 1949 and7957-62


Category 1949 1957 1958 1960 1961

January-September

1961 1962

Domestic exports: Total K

AgriculturalNonagr icultural..

Food and bevera^Agricultural fNonagr icultural foodstuffs.

Industrial supplies and materialsCotton, tobacco, and other agri-

cultural _ __Nonagricultural industrial mate-

rials _

Materials used in farming..

Capital equipment _Machinery and related itemsCommercial t ranspor ta t ion

equipment _Special category equipment2

Consumer goods, nonfood

Government military sales and un-classified

General imports: Total 3

Industrial supplies and materials 3Petroleum and products..Newsprint and paper base stocks.Materials associated with non-

durable goods output _.Selected 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

6,638

3,743485670

991

143

1,454

2,004

286

410

107

19,316

4,50614,810

2,7382,696

42

8,583

1,720

303

5,9314,028

1,626277

1,333

428

13,255

7,4731,5341,032

1,301

3,199

3,175

380

lr524

412

291

16,202

3,85412,348

2,5492,511

6,404

1,262

5,142

263

5,3283,667

1,423238

1,271

387

13,255

7,0071,610988

1,161

435

2,813

3,354

1,710

481

370

16,211

3,95512,256

2,7962,751

45

6,110

1,088

5,022

300

5,3633,706

1,274

15,627

8,4411,5361,089

1,556

603

3,657

3,364

2,424

618

414

19,401

4,83114,570

3,1033,060

7,802

1,654

6,148

331

6,3924,141

1,792459

1,327

446

15,017

7,9561,5481,098

1,489

541

3,280

3,209

353

2,459

602

438

19,818

5,02914,789

3,3523,313

7,591

1,593

5,998

346

6,7244,516

1,616692

1,346

14,725

7,6801,6821,093

1,452

.538

2,915

3,258

394

2,200

720

473

14,528

3,56810,960

2,3382,310

5,652

1,174

4,478

251

4,9823,357

1,151474

980

325

10,725

5,6081,249

805

400

2,086

2,403

294

1,553

526

341

15,443

3,73011,713

2,7472,721

26

5,267

887

4,380

3315,6563,692

1,173791

1,025

417

12,158

6,3731,355

843

1,216

469

2,490

2,545

323

1,958

367

1 Excludes military aid shipments of supplies and equipment under the Military Assistance Program,1957-62; in 1949, excludes military shipments under the Greek-Turkey and the China military aid programs.Also excludes uranium exports prior to 1961 (about $10 million a year).

2 Excludes Government military cash sales.s Adjusted to include imports of uranium ores and concentrates.* Total adjusted to exclude $33 million of the value reported by economic category.


265


TABLE G-81.—United States merchandise exports and imports, by area, 1949 and 1957-62*


Area

Exports (including reexports):Total2

CanadaOther Western Hemisphere-Western Europe..Soviet bloc8

Other Europe. _ _AsiaAustralia and OceaniaAfrica

General imports: Total

Canada. _Other Western Hemisphere.Western EuropeSoviet bloc3 _. -Other EuropeAsiaAustralia and Oceania. _AfricaUnidentified countries 8_

1949

11,560

1,9282,8203,980

623

1,997175594

6,638

1,5582,444

909674

1,184125338

8

1957

19,001

3,9394,8485,755

865

3,391282695

13,255

3,0424,1413,077

618

1,98521669232

1958

15,925

3,4394,3344,514

1135

2,658245618

U3,255

2,9654,0493,297

635

1,99720966834

1959

15,926

3,7483,7774,535

897

2,756323691

15,627

3,3524,0294,523

814

2,60333867920

1960

18,892

3,7093,7706,318

19413

3,646475766

15,017

3,1533,9644,185

812

2,72126662719

1961

19,105

3,6433,6866,292

13315

4,107401827

14,725

3,2723,7284,067

812

2,583320669

4

January-October

1961

15,775

3,0373,0415,172

12113

3,385338667

12,088

2,6823,0833,288

682

2,111270583

1

1962

16,050

3,2102,9345,244

11314

3,342391802

13,597

3,0263,2813,745

682

2,46735363222

i Data for all periods have been adjusted to include imports of uranium ore and exports of uranium andother nuclear materials. Imports from Canada and the Republic of South Africa have been adjusted forall periods for such imports. Data on imports of uranium ore from other countries are not available priorto 1961.

a Excludes special category items.3 U.S.S.R., Poland, Bulgaria, Rumania, Czechoslovakia, East Germany, Hungary, Albania, Estonia,

Latvia, Lithuania.4 Total adjusted to exclude $33 million of the value reported by area.• Consists of certain low-valued shipments and uranium and thorium imports, not identifiable by country.


266


T A B L E G—82.—Gold reserves and dollar holdings of foreign countries and international organizations,7949, 1953, and 1957-62

[Millions of dollars; end of period]

Area and country 1949

18,668

6,098. 92818733149570370

394132

2,067773

2,027

1,516

3,07241251010113846327082236517343

2,008356

1,652

679

3,268

1953

26,935

9,920249915

1,2041,224821981

710169

2,1741,473

3,241

2,509

3,679504425122236570345104338597438

2,865953

1,912

1,105

3,616

1957

32,555

14,673460

1,053944

4,1131,533957

980128

2,8131,692

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

1,12196

2,8531,862

3,917

3,438

4,12321046414024145256596262

1,215478

3,2511,0952,156

1,199

3,371

1959

42,231

19,248630

1,2791,9804,6403,1191,634

1,113157

2,9911,705

3,813

3,610

4,014393479228288296587111242932458

4,0081,5662,442

1,313

6,225

1960

46,320

21,059539

1,3142,1656,4503,0801,783

942328

2,9571,501

4,887

3,770

3,64842048318023779541114232800562

4,4462,1692,277

1,273

7,237

1961

49,459

23,793561

1,5823,1146,5083,4591,800

1,193470

3,5181,588

4,961

4,163

3,77942651415323644611132238820605

4,3031,8972,406

1,453

7,007

1962

Sep-tember 1

Total. . .

Continental Western EuropeAustriaBelgiumFranceGermany. _ItalyNetherlands _.Scandinavian countries

(Sweden, Norway, Den-mark, and Finland)

Spain _SwitzerlandOther

United Kingdom..

Canada _.

Latin AmericaArgentinaBrazilChileColombiaCubaMexicoPeruUruguay..VenezuelaOther

AsiaJapanOther

All other countries

International

2 51,924

24,645744

1,5113,6466,4703,5331,859

1,219589

3,371

1,703

4,820

4,4093,64330250014722937564154273781656

4,8162 2,347

2,469

1,738

7,853

1 Preliminary.2 Total dollar holdings include $109 million reported by banks initially included as of June 30, of which

$105 million reported for Japan.NOTE.—Includes gold reserves and dollar holdings of all foreign countries (with the exception of gold

reserves 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.


267


TABLE C-83.—Price changes in international trade, 1954-62

[1958=100]

Area or commodity class 1954 1955 1956 1957 1958 1959 1960 1961

1962

Thirdquarter

Area:Developed areas:

Exports..Terms of trade *

United States:ExportsTerms of trade *-

Undeveloped areas:ExportsTerms of trade 1_-.

Latin America:Exports.Terms of trade *

Latin America excluding petroleum:ExportsTerms of trade *--

Commodity class: 3

Manufactured goodsNonferrous base metals .

Primary commodities: Total-

FoodstuffsCoffee, tea, cocoa-Cereals

Other agricultural commodities.Fats, oils, oilseedsTextiles _

Wool.....

MineralsMetal ores..

91

105109

119125

126132

111

109

114145112

113111133137

9494

105108

111115

116120

94133

104

102109105

115101125125

9598

10097

104104

111111

115116

97138

105

101106102

114109123129

99105

103

10196

104100

107105

111109

100111

106

103103100

113105126144

103107

100100

100100

100100

100100

100100

100100

100

100100100

100100100100

100100

99102

101102

111

97

938397

10510098

106

9497

100103

101101

99

101114

97

10794

104108

98

101104

104105

103110

95

907298

10397

105107

92100

101105

104108

a 922 95

103108

93

9070

103

978799

104

92

* Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.* Data are for second quarter.* 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. All others

are price indexes.Data exclude trade of Soviet area and Communist China.Source: United Nations.

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