erp1966 appendixes 3
TRANSCRIPT
Appendix C
STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION
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CONTENTSNational income or expenditure: Page
C-l. Gross national product or expenditure, 1929-65 209C-2. Gross national product or expenditure, in 1958 prices, 1929-65 210C-3. Gross national product by major type of product, 1929-65 212C-4. Gross national product by major type of product, in 1958 prices,
1929-65 213C-5. Implicit price deflators for gross national product, 1929—65 214C-6. Gross national product: Receipts and expenditures by major economic
groups, 1929-65 216C-7. Gross private and government product, in current and 1958 prices,
1929-65 218G-8. Personal consumption expenditures, 1929-65 219C-9. Gross private domestic investment, 1929-65 220C-10. National income by type of income, 1929-65 221C-l l . Relation of gross national product and national income, 1929-65 . . . . 222C-l 2. Relation of national income and personal income, 1929-65 223C-13. Sources of personal income, 1929-65 224C-l 4. Disposition of personal income, 1929-65 226C-l 5. Total and per capita disposable personal income and personal con-
sumption expenditures, in current and 1958 prices, 1929-65 227C-l 6. Number and money income of families and unrelated individuals,
1947-64 228C-l 7. Financial saving by individuals, 1939-65 229C-l8. Sources and uses of gross saving, 1929-65 230
Population, employment, wages, and productivity:C-l9. Population by age groups: Estimates, 1929-65, and projections,
1970-85 231C-20. Noninstitutional population and the labor force, 1929-65 232C-21. Civilian employment and unemployment, by sex and age, 1947—65. . 234C-22. Selected unemployment rates, 1948-65 235C-23. Unemployment by duration, 1947-65 236C—24. Unemployment insurance programs, selected data, 1940-65 237C-25. Number of wage and salary workers in nonagricultural establishments,
1929-65 238C-26. Average weekly hours of work in selected industries, 1929—65 240C-27. Average gross hourly earnings in selected industries, 1929-65 241C-28. Average gross weekly earnings in selected industries, 1929-65 242C-29. Average weekly hours and hourly earnings, gross and excluding over-
time, in manufacturing industries, 1939—65 243C-30. Average weekly earnings, gross and spendable, in manufacturing
industries, in current and 1957-59 prices, 1939-65 244C-31. Indexes of output per man-hour and related data, 1947-65 245
Production and business activity:C-32. Industrial production indexes, industry groupings, 1947-65 246C-33. Industrial production indexes, market groupings, 1947-65 248C-34. Manufacturing capacity, output, and utilization rate, 1948-65 249C-35. New construction activity, 1929-65 250C-36. Business expenditures for new plant and equipment, 1939 and 1945-
66 251
2057195-983 O—618——14
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Production and business activity—Continued Page
C—37. New housing starts and applications for financing, 1929-65 252C—38. Sales and inventories in manufacturing and trade, 1947-65 254C-39. Manufacturers' shipments and inventories, 1947-65 255C-40. Manufacturers' new and unfilled orders, 1947-65 256
Prices:
G-41. Wholesale price indexes, by major commodity groups, 1929-65 257C-42. Wholesale price indexes, by stage of processing, 1947-65 259G-43. Consumer price indexes, by major groups, 1929-65 261C-44. Consumer price indexes, by special groups, 1935-65 . 262
Money supply, credit, and finance:
C-45. Money supply, 1947-65 263C-46. Selected liquid assets held by the public, 1946-65 264C-47. Bank loans and investments, 1929-65 265C-48. Bond yields and interest rates, 1929-65 266C-49. Federal Reserve Bank credit and member bank reserves, 1929-65. . . 268C-50. Short- and intermediate-term consumer credit outstanding, 1929-65. . 269C-51. Instalment credit extended and repaid, 1946-65 270C-52. Mortgage debt outstanding, by type of property and of financing,
1939-65 271C-53. Net public and private debt, 1929-65 272
Government finance:
C-54. U.S. Government debt, by kind of obligation, 1929-65 273G-55. Estimated ownership of U.S. Government obligations, 1939-65 274C-56. Average length and maturity distribution of marketable interest-bear-
ing public debt, 1946-65 275C-57. Federal administrative budget receipts by source and expenditures by
function, fiscal years 1939-67 276C— 58. Federal administrative budget receipts and expenditures and the
public debt, 1929-67 278C-59. Government cash receipts from and payments to the public, 1946-67 . 279C—60. Government receipts and expenditures in the national income ac-
counts, 1929-65 280C-61. Federal Government receipts and expenditures in the national income
accounts, 1946-67 281C—62. Reconciliation of Federal Government receipts and expenditures in
the administrative budget and the consolidated cash statement withreceipts and expenditures in the national income accounts, fiscalyears 1963-67 282
G-63. State and local government revenues and expenditures, selected fiscalyears, 1927-64 283
Corporate profits and finance:
C-64. Profits before and after taxes, all private corporations, 1929-65 284C—65. Relation of profits after taxes to stockholders' equity and to sales,
private manufacturing corporations, by industry group, 1958-65. . . 285C-66. Sources and uses of funds, nonfarm nonfinancial corporate business,
1954-65 287C-67. Current assets and liabilities of United States corporations, 1939-65. . 288C-68. State and municipal and corporate securities offered, 1934-65 289C-69. Common stock prices, earnings, and yields, and stock market credit,
1939-65 290C-70. Business population and business failures, 1929-65 291
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Agriculture: Page
C-71. Income from agriculture, 1929-65 292G-72. Farm production indexes, 1929-65 293G—73. Indexes of prices received and prices paid by farmers, and parity ratio,
1929-65 294C-74. Selected measures of farm resources and inputs, 1929-65 296C-75. Farm population, employment, and productivity, 1929-65 297G-76. Comparative balance sheet of agriculture, 1929-66 298
I nternational statistics:
G-77. United States merchandise exports and imports, by commodity groups,1957-65 299
C-78. United States balance of payments, 1947-65 300G-79. United States merchandise exports and imports, by area, 1957-65 . . . 302C-80. United States foreign assistance, by type and area, fiscal years 1946-65 . 303G-81. International reserves, 1949, 1953, and 1960-65 304G-82. United States gold stock and holdings of convertible foreign currencies
by U. S. monetary authorities, 1949-65 305C-83. Price changes in international trade, 1957-65 306
Note.—Detail in these tables will not necessarily add to totals because ofrounding.
Data for Alaska and Hawaii are not included unless specifically noted.Unless otherwise noted, all dollar figures are in current prices.
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NATIONAL INCOME OR EXPENDITURETABLE G-l.—Gross national product or expenditure, 1929-65
[BiUions of dollars]
Year orquarter
Totalgrossna-ionalrod-uct
1929-.
1930..1931..1932..1933..1934..1935..1936..1937..1938..1939-.
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949.
1950-.1951..1952..1953.1954.1955.1956.1957.1958.1959.
1960.1961.1962,1963.1964.1965 8
1963: II I . . .I I I . .IV...
1964: I . . . .I I . . .I I I . .IV...
1965: I_...I I . . .I II . .IV 6.
Per-sonalcon-
sump-tionex-
pendi-tures
103.1
90.475.858.055.665.172.282.90.484.790.599.7
124.5157.9191.6210.1212.0208.5231.3257.6256.5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6503.8520.1560.3589.2628.7675.6
Total
577.0583.1593.1603.6614.0624.2634.8641.1
657.6668.8681.5694.6
77.2
60.548.645.851.355.761.966.563.966.8
70.880.688.599.108.119.143.4160.173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.290.311.325.335.355.1373.8398.9428.5
Gross private domestic investment *
Total
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.754.159.351.952.651.767.470.067.860.975.74.871.83.086.992.9
104.9
Fixed investment
14.5
10.66.83.43.04.15.37.29.27.48.9
11.013.48.16.48.1
11.724.234.441.338.847.349.048.852.153.361.465.366.562.470.571.369.77.081.288.197.
Nonresidential
10.6
8.35.02.72.43.24.15.67.35.45.9
7.59.56.05.06.8
10.217.023.426.925.127.931.831.634.233.638.143.746.441.645.148.447.051.54.360.569.8
5.0
4.02.31.2.9
1.01.21.62.41.92.0
2.32.91.91.31.82.96.87.5
11.211.412.713.114.317.18.016.616.18.118.419.219.21.124.3
5.6
4.32.71.51.2.22.94.04.93.54.05.36.64.13.5.07.3
10.15.918.116.618.20.20.221.520.623.826.528.425.028.430.328.632.534.639.445.5
4.0
2.31.7.7.6.9
1.21.61.92.02.9
3.43.92.11.41.31.57.2
11.114.413.19.417.17.18.019.723.321.620.220.825.522.822.625.26.927.527.6
Netex-
portsof
goodsandserv-
1.7
- . 4- 1 . 1- 2 . 5- 1 .- . 71.11.32.5
- . 9.4
2.24.51.8
- . 6- 1 . 0- 1 . 0
6.4- . 54.7
- 3 . 16.8
10.33.1.4
- 1 . 56.04.1.3
- 1 . 54.83.62.06.05.4.87.4
Total
1.1
1.0.5.4.4.6.1.1.311.1
1.71.3
-2.0-1.-.6T.I11.6.46.1
1.83.72..41.82.04.05.2.2.1
4.15.65.15.98.67.
Governmentrernment purchasegoods and services
shases of
8.5
9.29.28.18.09.8
10.012.011.913.013.3
14.024.859.688.696.582.327.025.131.637.837.959.174.781.674.874.278.686.194.297.099.6
107.6117.1122.6128.41135.0l
Federa
1.3
1.41.51.52.03.02.94.94.75.45.1
6.0
53.5
16.913.851.9 49. 481.1 79. 789. 0 87. 474. 2 73. 517. 2 14. 712.516. 510. 720.113. 318. 4 14.137. 7 33.651. 8 45. 957.0 48. 747.4 41.244.1 38. 645. 6 40.349. 5 44. 253.6 45.953.7 46.0
1.3
1.41.51.52.03.02.94.94.75.4
1.2 3.92.2
44.957. 4 47.863.4 51. 664. 4 50. 865. 3 49. 966. 7 49.9
3.12.51.41.6.7
2.53.55.86.84.34.15.98.46.25.55.35.37.77.68.69.6
11.813.615.416.8
Stateandlocal
7.2
7.87.76.66.06.87.17.07.27.68.28.07.97.77.47.58.19.8
12.615.017.719.521.522.924.627.430.133.036.640.643.346.150.253.758.363,168.2
Seasonally adjusted annual rates
368.0371.1376.6379.5389.1396.0404.6405.9416.9424.5432.5440.1
82.684.887.992.489.790.992.697.7
103.4102.8106.2107.5
78.180.182.184.386.586.888.890.294.696.498.6
100.5
52.153.455.156.558.158.961.663.566.968.470.973.2
19.019.220.020.520.721.121.121.523.224.524.225.4
33.134.235.136.037.537.940.542.043.743.946.747.8
26.026.726.927.928.427.927.226.727.728.027.727.2
4.54.75.88.1
3.34.13.87.5
8.86.47.67.0
4.56.25.77.3
8.87.78.88.9
6.08.07.47.4
121.9120.9123.0124.3126.3129.7128.7128.6131.3133.5135.4139.6
65.463.664.264.465.067.064.964.364.965.766.569.7
51.550.551.050.349.851.749.548.848.849.249.852.0
13.913.113.214.115.215.315.415.516.116.516.717.7
56.557.458.859.961.362.763.864.366.467.868.9
1 See Table C-8 for major components.2 See Table C-9 for further detail and explanation of components.3 See Table C-6 for exports and imports separately.4 This category corresponds closely to the national defense classification in the Budget of the United States
Government for the Fiscal Year ending June SO, 1967.6 Less than $50 million.6 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
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T A B L E G-2.—Gross national product or expenditure, in 1958 prices, 1929-65
[Billions of doliars, 1958 prices]
Year orquarter
Totalgrossna-
tionalpro-duct
Personal consumptionexpenditures
TotalDura-
blegoods
Non-dura-ble
goods
Serv-ices
Gross private domestic investment
Total
Fixed investment
TotalTotal
Nonresidential
Struc-tures
Pro-ducers'durableequip-ment
Resi-dentialstruc-tures
Changein busi-
nessinven-tories
1929
1930193119321933 _.19341935193619371938 -1939
19401941194219431944 __19451946194719481949
1950195119521953195419551956 _.19571958_ ___1959
I960.19611962196319641965 3
1963: II I . . . .III. . .IV. _.
1964: II I —III—IV...
1965: II I - . .III.__IV 3__
203.6
183.3169.2144,1141.5154.3169.8193.0203.3193.0209.4
227.2263.7297.8337.2361.3355.4312.6309.9323.7324.1
355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9
487.8497.3530.0550.0577.6609.0
139.6
130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2
155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5
230.5232.8239.4250.8255 7274.2281.4288.2290.1307.3
316.2322.6338.6352.4372.1394.1
16.3
12.911.28.48.39.4
11.714.515.112.214.5
16.719.111.710.29.4
10.620.524.726.328.4
34.731.530.835.335.443.241.041.537.943.7
44.943.949.253.258.565.4
69.3
65.965.660.458.662.565.973.476.077.181.2
84.689.991.393.797.3
104.7110.8108.3108.7110.5
114.0116.5120.8124.4125.5131.7136.2138.7140.2146.9
149.7153.1158.4161.8169.4177.0
54.0
51.549.445.946.046.147.950.552.050.952.5
54.456.358.561.864.767.772.173.475.877.6
81.884.887.891.194.899.3
104.1108.0112.0116.8
121.6125.6131.1137.3144.2151.6
40.4
27.316.64.65.39.4
18.024.130.017.024.7
33.041.621.412.814.019.852.351.560.448.0
69.370.060.561.259.475.474.368.860.973.6
72.469.079.482.386.396.1
36.8
27.919.110.89.6
12.015.620.924.519.423.5
28.132.017.313.015.922.742.351.755.951.9
61.059.057.260.261.469.069.567.662.4
68.967.073.476.681.7
26.5
21.613.98.17.69.2
11.615.818.913.715.3
18.822.212.510.113.519.930.236.238.034.5
37.539.638.340.739.643.947.347.441.644.1
47.145.549.751.957.165.0
13.9
11.77.44.33.33.64.15,57.15.65.9
6.78.14.62.93.85.9
12.511.612.311.9
12.714.113.714.915.216.218.518.216.616.2
17.417.417.918.018.921.2
12.6
6.63.84.35.67.5
10.311.88.19.4
12.114.27.97.29.6
14.117.724.625.722.6
24.825.524.625.824.527.728.829.125.027.9
29.628.131.733.838.343.8
Seasonally adjusted annual rates
10.4
6.35.12.72.12.94.05.15.65.78.2
9.29.84.92.92.52.8
12.115.417.917.4
23.519.518.919.621.725.122.220!220.824.7
21.921.623.824.724.623.9
541.2544.9553.7560.0
567.1575.9582.6584.7
597.7603.5613.0621.7
348.3350.0355.1356.4
364.5369.8377.3376.8
386.1390.5396.9402.8
52.052.354.154.7
57.058.760.257.9
64.563.466.467.4
161.0161.2163.0162.1
166.4167.8171.6171.8
173.2176.4177.8180.8
135.3136.5138.0139.6
141.1143.3145.5147.1
148.4150.7152.7154.7
78.780.583.086.9
83.885.286.090.2
95,494.296.997.8
74.275.877.279.0
80.780.782.283.1
86.888.189.791.0
50.051.252.653.7
55.155.758.159.6
62.563.766.067.9
17.617.618.318.6
18.718.918.819.0
20.321.421.022.0
32.433.534.335.1
36.436.839.340.6
42.242.345.045.9
24.2 124.624.625.3
25.725.024.123.6
24.324.423.723.1
3.5
- . 6-2 .4-6 .2- 4 . 3- 2 . 7
2.43.15.5
-2 .41.2
4.99.64.0
2-1 .9- 2 . 910.0- . 24.6
8.310.93.3
.9-2 .0
6.44.81.2
- 1 . 54.8
3.52.06.05.74.67.2
4.44.65.87.9
3.04.53.87.1
8.66.27.2
See footnotes at end of table.
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TABIE C-2.—Gross national product or expenditure, in 1958 prices, 1929-65—Continued
[Billions of dollars, 1958 prices]
Year or quarter
1929.
1930.1931.1932.1933.1934.1935-1936.1937.1938.1939.
1940.1941.1942_1943.1944.1945.1946.1947-1948.1949.
1950.1951.1952.1953.1954.1955.1956.1957 _1958.1959.
I960.1961.1962.1963.1964.1965 3
1963: I —II.IIIIV
1964: I—II.IIIIV
1965: I—II.IIIIV
Net exports of goods and services
Netexports
1.5
1.4
().3
-1 .0-1 .2- . 71.91.3
2.1.4
-2 .1-5 .9-5.8-3 .8
8.412.36.16.4
2.75.33.01.13.03.25.06.22.2.3
4.35.14.55.68.56.0
4.05.85.57.1
9.08.18.78.3
5.16.66.26.1
Exports
11.8
10.48.97.17.17.37.78.29.89.9
10.0
11.011.27.86.87.6
10.219.622.618.118.1
16.319.318.217.818.820.924.226.223.123.8
27.328.030.032.236.537.3
Imports
10.3
9.07.96.67.17.18.79.3
10.58.08.7
10.89.9
12.613.413.911.210.312.011.7
13.614.115.216.715.817.719.119.920.923.5
23.022.925.526.527.931.3
Government purchases of goods andservices
Total
22.0
24.325.424.223.326.627.031.830.833.935.2
36.456.3
117.1164.4181.7156.448.439.946.353.3
52.875.492.199.888.985.285.389.394.294.7
94.9100.5107.5109.8110.7112.8
Federal *
I
3.5
4.04.34.66.08.07.9
12.211.513.312.5
15.036.298.9
147.8165.4139.730.119.123.727.6
25.347.463.870.056.850.749.751.753.652.5
51.454.660.059.757.857,2
State andlocal
Seasonally adjusted annual rates
29.632.232.534.3
36.035.736.837.3
32.938.538.339.5
25.726.427.027.2
27.027.628.129.0
27.831.932.133.4
110.3108.7110.0109.6
109.9112.8110.5109.4
111.2112.1113.0114.9
61.359.259.758.7
58.259.957.156.1
56.456.857.058.6
18.5
20.221.119.617.318.619.219.619.420.622.7
21.420.118.316.616.316.718.420.822.725.7
27.527.928.429.732.134.435.637.640.642.2
43.545.947.550.052.855.6
49.149.550.350.8
51.752.953.453.3
54.855.356.056.3
1 Net of Government sales.2 Less than $50 million.
3 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
211
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TABLE C—3.—Gross national product by major type of product, 1929—65
[Billions of dollars]
Year orquarter
Totalgrossna-
tionalprod-uct
1929..._
1930 . . . .1 9 3 1 . - -1932 . . . .1 9 3 3 - - -1934.-.-1 9 3 5 . - -1 9 3 6 . . -1 9 3 7 - . -1 9 3 8 . - -1939--.-
194019411942.___1943 . . .1944 . . . .1945194619471948 . ._1949
1950.---1951195219531954 . . . .1955 ___19561957. .--19581959
19601961196219631964
1965 2
1963: II I — .I l lIV —
1964: III- . .I I I -IV...
1965: III—I I I -IV 2.
Finalsales
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.191.6210.1212.0208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6
503.8520.1560.3589.2628.
675.6
[nven-tory
change
101.4
90.777.060.557.265.871.281.287.985.690.1
97.5120.1156.2192.2211.1213.0202.1231.8252.9259.6
278.0318.1342.4364.1366.4392.0414.439.8448.8478.9
500.2518.1554.3583.5623.9
668.1
1.7
A
- L I-2.5-1.6
>j
ill1.32.5
- . 9.4
2.24.51.8
- . 6- 1 . 0—1.0
6.4
4! 7- 3 . 1
6.810,33.1
.4- 1 . 5
6.041.3
- 1 . 54.8
3.62.06.05.74.8
7.4
Goods output
Total
Total Finaloods sales
56.1
46.937.426.727.034.439.945.851.545.349.0
56.072.593.6
120.4132.3128.9124.9139.7154.2147.5
162.4189.195.6204.1197.1216.4225.4234.6230.8249.1
259.6262.3284.5296.8316.1
340. 8
Inven-tory
change
54.3
47.338.629.228.635.138.844.548.946.248.6
53.868.091.9
121.0133.3129.9118.5140.1149.4150.5
155.6179.4192.5203.7198.6210.4220.233.3232.244.4
256.0260.2278.5291.1311.3
333.3
Total
1.7
- . 4—1.1- 2 . 5- 1 . 6- . 71.11.32.5
- . 9.4
2.24.51.8
- . 6- 1 . 0- 1 . 0
6.4
4^7- 3 . 1
6.810.33.1
.4- 1 . 5
6.04.1.3
- 1 . 54.8
3.62.06.05.74.8
Durable goods Nondurable goods
Finalsales
17.5
11.47.73.64.97.49.3
12.213.99.9
12.7
16.626.835.554.257.948.936.946.048.747.8
60.473.774.679.472.185.790.94.483.695.6
96.5109.0115.9
139.3
Inven-tory
change
16.1
12.59.05.75.47.38.9
11.213.110.812.4
15.423.834.554.258.550.231.644.348.049.9
56.366.873.578.574.682.787.593.186.4
97.496.6
106.2113.1122.8
133.4
Total
1.4
- 1 . 0- 1 . 2- 2 . 0- . 5
.1
.3
.9
.8- . 9
.3
1.23.01.0
(0
— 1.35.31.7.7
- 2 . 1
4.1
- 2 . 53.02.81.3
- 2 . 82.3
2.1- . 12.82.83.3
Finalsales
38.5
35.529.723.122.127.030.633.637.635.436.3
39.345.658.166.274.480.088.093.7
105.599.7
Inven-tory
change
102.116.121.124.125.130.135.1140.2147.2153.6
160.1165.8175.5181.0190.0
5.9 201.5
38.2
34.829.623.623.227.829.933.335.835.436 2
38.444.257.466.874.879.786.995.9
101.5100.6
99.3112.6119.1125.2124.1127.7133.140.2145.'151.1
158.6163.7172.2178.1
200.0
0.3
.7
.1- . 4
- 1 . 1- . 9
.7
.31.8
0)
1.01.4.7
- . 6- . 3
.21.1
- 2 . 24.0
- 1 . 0
2.73.42.0
1.02.91.9
0)1.32.4
1.52.13.22.91
Serv-ices
Struc-tures
35.6
34.231.727.525.727.128.331.032.333.234.0
35.440.350.362.571.876.568.070.275.80.8
87.0101.2110.8118.8123.5132.6142. 3154.163.4176.2
187.3199.5213.3226.9244.0
261.1
Seasonally adjusted annual rates
577.0583.1593.1603.6
614.0624.2634.8641.1
657.6668.681.5694.6
572.5578.4587.3595.5
610.7620.1631.0633.6
648.8662.4673.9687.5
4.54. 75.88.1
3.34.13.87.5
8.86.47.67.0
291.7293.9298.7303.4
308.2312.4319.8323.3
331. 6335.5344.6351.4
287.2289.2292.9295.3
304.9308.3316.0315.8
322.8329.1337.1344.4
4.54.75.88.1
3.34.13.87.5
8.86.47.67.0
111.8115.4116.6120.0
122.3125.0128.1128.8
137.2136.6141.9141.5
109.8112.0114.3116.2
120.1121.6125.4124.3
130.1130.3135.4137.7
2.03.42.33.8
2.23.52.74.4
7.16.26.53.8
179.9178.5182.2183.4
185.9187.4191.7194.6
194.4198.9202.7210.0
177.4177.2178.6179.1
184.9186.8190.6191.5
192.8198.7201.7206.7
2.51.43.54.3
1.1.6
1.13.1
1.6.2
1.03.2
222.1225.1228.2232.1
237.3242.8246.4249.7
253.8259.0263.0268.6
1 Less than $50 million.2 Preliminary estimates.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.
212
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G-4.—Gross national product by major type of product, in 1958 prices, 1929-65
[Billions of dollars, 1958 prices]
Year orquarter
'otalgrossna-ionalirod-uct
1929..
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
195019511952.1953195419551956 __195719581959
196019611962196319641965 2
1963: I . . . .I I . . .III.IV..
1964: I . . . .I I . . . .III . . .IV. _.
1965: II I . . . .III . . .IV2._
Final
203.6
183.3169.2144.1141.5154.3169.6193.0203.3193.0209.4
227.2263.7297.8337.2361.3355.312.6309.9323.324,
355.383.395.412.407.438.446.452.447.475.
487.497.530.550.577.609.
Inven-tory
:hange
200.0
183.9171.6150.145.9156. 9167.1189.9197.8195.3208.2
222.3254.1293.8337.4363.2358.3302.6310.1319.1328.1
347.372.5391.411.*409.431.6441.2451.2448.8471.
484.495.524.544.573.601.
3.5
- . 6-2 .4- 6 .- 4 . 3-2 .7
2.43.15.5
-2 .41.2
4.99.64.0
2- L 9- 2 . 910.0
4*. 6- 3 . 9
10.93.3.9
- 2 . 06.4.81.2
- 14.S
3.52.06.5.74.7.2
Goods output
Total
Totalgoods
Finalsales
103.9
90.582.268.768.877.988.6
102.2110.2103.0110.7
124.0143.4158.1187.4204.8198.0172.1172.2178.4174.2
192.6208.4214.0225.4215.1236.1239.0239.8230.8247.8
256.1257.277.5288.3304.6324.6
Inven-tory
change
100.4
91.184.774.973.280.586.299.1
104.8105.3109.
119.0133.8154.1187.6206.7201.0162.1172.4173.8178.1
184.197.210.224.217.229.234.238.232.3242.9
252.255.4271.5282.6300.0317.4
Total
3.5
- . 6- 2 . 4- 6 . 2- 4 . 3- 2 . 7
2.43.15.5
-2 .41.2
4.99.64.0
-1.9- 2 . 910.0
- 3 . 9
8.310.93.3
-2^06.4.81.2
- 1 . 54.
3.52.6.5.4.67.2
Durable goods Nondurable goods
Finalsales
33.6
22.416.18.3
11.716.921.528.731.021.827.6
35.650.057.285.695.984.354.760.161.358.0
73.484.184.691.081.996.596.596.83.694.0
97.894.9
107.0114.0123.1135.9
Inven-tory
change
30.9
24.519.013.413.416.720.626.329.124.127.0
32.843.54.485.97.487.446.158.660.061.0
68.376.183.289.984.893.093.595.086.491.6
95.994.9
104.1111.2120.0130.2
Total
2.7
-2 .1-3.0-5.1-1.7
2.41.9
- 2 . 3.6
2.76.62.9.4
- 1 . 5- 3 . 1
8.61.51.2
- 3 . 0
5.8.01.51.2
- 3 . 03.43.01.2
- 2 . 82.4
2.00)
2.82.83.15.7,
Final
70.4
68.066.260.457.161.067.173.579.281.283.0
88.493.4
100.9101.7108.8113.7117.4112.2117.1U6.2
119.1124.3129.4134.4133.2139.7142.5143.6147.153.
158.162.170.174.181.188.
Inven-tory
change
69.5
66.565.61.559.863.865.672.875.781.382.5
86.90.399.7
102.4109.3113. 6116.0113.8113.8117.1
116.0121.4127.6134.6132.3136.140.143.6145.9151.3
156.8160.5167.4171.4180.0187.2
0.8
1.5.5
- 1 . 1- 2 . 7- 2 . 8
1.5.7
3.6- . 1
.6
2.23.11.
&-A
.21.4
- 1 .3.3
- . 9
3.12.91.8
—. 2.9
3.01.8
0)1.32.5
1.52.03.12.91.51.5
Serv-ices
Struc-tures
69.3
67.766.861.963.065.368.173.373.972.376.9
80.089.8
107.7131.8144.0144.113.106.109.112.
117.130.136.140.3141.147.153.160.163.171.
176.184.193.201.211.220.
Seasonally adjusted annual rates
541.2544.9553.7560.0
567.1575. 9582.6584.7
597.7603.5613.0621.7
536.8540.3547.8552.1
564.1571.4578.8577.7
589.2597.3605.8614.9
4.44.65.87.9
3.04.53.87.1
8.66.27.26.8
283.5285.1290.6294.2
297.6302.2308.4310.2
317.9319.1327.9333.6
279.1280.4284.7286.3
294.6297.7304.7303.1
309.3313.0320.7326.8
4.44.65.87.9
3.04.53.87.1
8.66.27.26.8
109.9113.3114.9117.9
119.4122.3125.2125.5
133.7132.5138.8138.7
108.0110.0112.7114.2
117.3119.0122.5121.2
126.7126.5132.6135.1
1.93.22.33.7
2.03.42.74.3
7.06.06.23.6
173.6171.8175.7176.2
178.3179.9183.2184.7
184.3186.6189.1194.9
171.1170.4172.1172.1
177.2178.8182.1181.9
182.7186.5188.1191.7
2.51.43.64.2
1.01.11.12.8
1.6.2
1.03.2
198.8200.6202.6204.0
207.4211.5213.0214.3
216.4219.5221.3224.1
30.3
25.220.113.69.7
11.112.817.519.117.721.8
23.230.531.918.012.513.127.231.236.137.5
45.244.444.747.050.254.354.052.653.157.0
55.055.858.860.261.464.0
58.959.360.561.8
62.062.261.160.3
63.964.763.064.5
1 Less than $50 million.2 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
213
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—5.—Implicit price deflators for gross national product, 1929-65
I Index numbers, 1958=100]
Year or quarter
1929
1930.193119321933193419351936193719381939
19401941 . . .194219431944.19451946—194719481949—
1950195119521953195419551956195719581959
I96019611962196319641965 3 _ _
1963: I .I IIII...rv .
1964: I . _II _IIIIV . . .
1965: I .II. . .IllIV 3
Grossnational
prod-uct1
50.6
49.344.840.339.342.242.642.744.543.943.2
43.947.253.056.858.259.766.774.679.679.1
80.285.687.588.389.690.994.097.5
100.0101.6
103.3104.6105.7107.1108.9110.9
106.6107.0107.1107.8
108.3108.4109.0109.6
110.0110.8111.2111.7
Personal consumption
Total
55.3
53.647.942 340.643.544.444.746.545.645.1
45.548.754.859.963.265.470.577.982.381.7
82.988.690.591.792.592.894.897.7
100.0101.3
102.9103.9104.8106.1107.2108.7
105.7106.0106.1106.5
106.8107.1107.2107.7
108.0108.7109.0109.3
expenditures
Dur-able
goods
56.4
55.349.143.241.944.743.743.645.846.746.0
46.550.459.364.271.575.976.882.786.386.8
87.894.295.494.392.991.994.998.4
100.0101.4
100.9100.6100.7100.4100.599.1
100.4100.7100.0100.5
100.7100.6100.5100.1
100.2100.198.497.6
Non-durablegoods
54.5
51.644.137.738.042.744.544.846.444.043.2
43.847.755.662.566.268.774.383.688.585.6
86 093.394.393.994.293.694.997 7
100.099.8
101.1101.8102.6103.8104.8106.7
103.5103.8103.8104.2
104.4104.7104.8105.3
105.5106.5107.2107.7
Serv-ices
56.1
55.752.748.343.644.344.445.046.847.747.7
47.949.852.755.357.558.762.767.972.174.3
76.380.083.687.790.092.094.697.3
100.0103.0
105.8107.6109.0110.9112.7115.2
110.2110.7111.1111.6
112.0112.5112 9113.6
114.2114.9115.7116.1
Gross private domestic investmentl
Total
39.4
38.135.531.830.733.834.234.537.738.137.6
39.042.046.549.051.051.458.566.773.974.7
77.583.185.386.686.889.094.098.5
100.0102.6
103.4103.9104.9106.0107.8109.7
105.2105.7106.3106.7
107.1107.5108.0108.5
108.9109,4109.9110.4
Fixed investment
Nonresidential
Total
39.9
38.336.133.331.735.035.835.638.739.238.7
40.142.747.849.550.850.956.364.570.772.8
74.480.482.684.084.886.792.497.9
100.0102.2
102.9103.4104.1104.6106.0107.4
104.2104.4104.8105.1
105.5105.7106.0106.6
107.0107.3107.4107.9
Struc-tures
35.7
34.431.728.228.129.130.430.134.333.833.1
34.136.441.345.548.149.054.464.471.571.2
72.979.383.284.986.088.193.498.6
100.0102.7
104.0105.6107.1109.2111.8114.8
108.2108.8109.6110.2
110.5111.4112.3113.0
114.1114.0115.2115.7
Pro-ducers'durableequip-ment
44.6
43,041.139.. 134.538.838.738.541.443.042.2
43.446.351.551.151.951.757.564.670.373.6
75 280.982.283.584.085.991.897 5
100.0102.0
102.2102.1102.3102.2103.1103.8
102.0102.1102.2102.4
103.0102.8103.0103.5
103. 5103. 8103.7104.2
Resi-dentialstruc-tures
38.1
37.133.627 327.130.129.831.334.335.535.7
36.940.343.347.051.654.959.771.780.878.5
82.588.690.891.990.492.997.499.8
100.0103.1
104.5105.0106.7108.9112.0115.9
107. 5108.3109.6110.2
110.5111.6112.8113.4
114.0114.9116.9117.8
See footnotes at end of table.
214
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G—5.—Implicit price deflators for gross national product, 7929-65—Continued
[Index numbers, 1958=100]
Year or quarter
Exports and imports ofgoods and services i
Exports Imports
Government purchases of goodsand services
Total Federal State andlocal
Grossprivate
product2
1929.
19301931.193219331934_19351936193719381939
1940_19411942194319441945_1946194719481949.
19501951195219531954.19551956195719581959
196019611962196319641965 3
1963: I . . .I I . .I I I .IV..
1964: I . - .I I . .I I I .IV..
1965: I . . .II_.I I I .IV 3
59.5
52.341.034.733.740.642.343.446.543.844.1
48.653.061.565.269.971.375.487.392.787.0
84.997.098.895.294.394.997.5
101.3100.098.8
101.9100.8100.6101. 5104.9
101.2100.7100.2100.3
101.0100.7101.3102.9
105.2104.9104.8104.8
57.3
49.039.331.528.833.636.036.740.737.938.6
40.843.048.351.253.256.464.979.486.482.2
88.7107.2103.699.1
100.8100.6102.5104.0100.099.3
101.0100.198.599.6
101.8102.1
99.599.3
101.9102.2101.6101.7
102.9101.5102.0102.0
38.6
37.936.333.434.536.837.037.638.438.337.9
38.544.050.953.953.152.655.862.968.171.0
71.878.581.081.884.187.192.196.4
100.0102.4
105.0107.1109.0111.7116.0119.6
110.5111.2111.7113.5
114.9115.0116.5117.5
118.1119.1119.8121.5
36.0
34.134.531.933.137.437.040.540.740.540.8
40.246.652.554.953.853.157.365.669.873.0
72.979.481.281.483.586.991.795.8
100.0102.2
104.2105.2105.6107.8112.9116.6
106.7107.3107.5109.6
111.7111.9113.7114.6
115.1115.7116.6118.9
39.1
38.736.633.835.036.637.035.937.136.836.3
37.339.242.344.646.148.653.260.466.468.9
70.876.980.682.885.387.592.797.3
100.0102.6
105.9109.4113.2116.5119.3122.8
115.1116.0116.8117.9
118.6118.5119.5120.6
121.2122.5123.1124.2
51.7
50.545.740.939.943.043.543.445.344.643.9
44.748.755.560.862.062.668.276.381.480.6
81.487.489.089.690.891.694.597.9
100.0101.4
102.7103.7104.7105.7107.1108, 9
105.3105.7105.8106.2
106.6106.7107.1107.8
108.1108.9109.2109.5
1 Separate deflators are not available for total gross private domestic investment, change in businessinventories, and net exports of goods and services.
2 Gross national product less compensation of general government employees. See also Table C-7.3 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
215
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G—6.—Gross national product: Receipts and expenditures by major economic groups*1929-65
[Billions of dollars]
Yearor
quarterTotal
exclud-ing in-terestand
trans-fers
Persons
Disposable personalincome
Total
Inter-est
paidand
trans-fer
pay-mentsto for-eigners
Per-sonalcon-
sump-tionex-
pendi-tures
Per-sonal
saving(+)ordis-
saving()
Government
Net receipts
Netre-
ceipts
Taxandnon-taxre-
ceiptsor ac-cruals
Trans-fers,
inter-est,andsub-
sidies 2
Expenditures
Pur-
ofgoodsandserv-ices
Totalex-
pendi-tures
Trans-fers,
inter-est,andsub-
sidies 2
1929..
1930..1931..1932..1933..1934..1935..1936..1937-.1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950.1951.1952.1953.1954.1955.1956.1957.1958.1959 _
1960.1961.1962.1963.1964.1965 7
1963: IIIIIIIV
1964: IIIIIIIV
1965: IIIIIIIV 7
81.4
73.363.148.044.951.757.865.570.364.669.4
74.791.6
116.1132.7145.5149.3158.6168.0186.9186.2
204.1223.5234.9248.3252. 9270.2287.3302.2312.4330.3
342.3356.3376.7394.3425.2453.6
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3403.8435.8465.3
1.9
1.2.9.7.7
. 9
1.01.1
.81.01.41.82.22.4
2.83.03.54.34.55.15.96.36.57.0
7.88.18.69.6
10.511.7
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1373.8
428.5
4.2
3.42.6
.42.13.63.8.7
2.6
3.811.027.633.437.329.615.27.3
13.49.4
13.117.318.218.316.415.820.620.822.319.1
17.021.221.620.426.325.1
9.5
8.96.36.36.77.48.08.8
12.211.211.2
13.321.028.244.444.742.832.439.540.134.7
45.864.970.874.867.876.983.586.881.695.0
103.3103.3114.2123.8125.9137.2
11.3
10.89.58.99.3
10.511.412.915.415.015.4
17.725.032.649.251.253.250.956.858.956.0
68.784.889.894.389.7
100.4109.0115.6114.7128.9
139.8144.6157.0168.3172.7186.9
1.8
1.93.12.62.73.13.44.13.23.84.2
4.44.04.44.76.5
10.418.517.318.821.3
22.919.919.019.521.923.425.528.733.034.0
36.541.342.844.546.849.7
8.5
9.29.28.18.09.8
10.012.011.913.013.3
14.024.859.688.696.582.327.025.131.637.8
37.959.174.781.674.874.278.686.194.297.0
107.6117.1122.6128.4135.0
10.3
11.112.410.610.712.913.416.115.016.817.6
18.428.864.093.3
103.092.745.542.450.359.1
60.879.093.7
101.296.797.6
104.1114.9127.2131.0
136.1149.0159.9167.1175.1184.7
1.8
1.93.12.62.73.13.44.13.23.84.2
4.44.04.44.76.5
10.418.517.318.821.3
22.919.919.019.521.923.425.528.733.034.0
36 54l!342.844.546.849.7
Seasonally adjusted annual rates
386.5390.0396.3404.0
412. 5423.3429.6435.4
440.2446.9459.3468.1
395.7399.4406.1414.0
422.6433.6440.3446.4
451.4458.5471.2480.3
9.29.49.7
10.0
10.110.410.711.0
11.211.611.912.2
368.0371.1376.6379.5
389.1396.0404.6405.9
416.9424.5432 5440.1
18.518.919.824.4
23.327.325.029.5
23.322.426.828.0
120.4123.6124.6126.7
124.6123.2126.7129.4
136.0138.4134.7
(9)
165.3167.4168.9171.5
171.4169.6173.5176.5
184.8186.6186.4
(9)
44.943.844.244.8
46.746.446.847.1
48.848.251.750.1
121.9120.9123.0124.3
126.3129.7128.7128.6
131.3133. 5135.4139.6
166.8164.7167.2169.1
173.0176.1175.5175.7
180.1181.7187.1189.7
44.943.844.244.8
46.74 6 446.847.1
48.848.251.750.1
See footnotes at end of table.
2 l 6
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-6.—Gross national product: Receipts and expenditures by major economic groups,7929-65— Continued
[Billions of dollars]
Yearor
quarter
]
Grossre-
tainedearn-ings3
11.28.65.33.23.25.26.46.77.78.08.4
10.511.414.516.317.115.114.520.328.129.729.433.135.136.139.046.347.349.849.456.856.858.766.369.175.4
8 82.8
BusineSv
GrossDri-V11
vatedomes-tic in-vest-ment4
16.210.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.754.159.351.952.651.767.470.067.860.975.374.871.783.086.992.9
104.9
5
Excessof in-vest-ment( - )
- 5 . 1- 1 . 6
- . 32.21.81.9
(6)- 1 . 8- 4 . 0
1.6- . 9
- 2 . 7- 6 . 5
4.610.610.04.5
-16.1-13.7-18.0- 6 . 0
-24.7-26.2-16.8-16.5-12.7-21.1-22.8-18.1-11.5-18.5-18.0-13.0-16.8-17.8-17.5*-22.1
International
Trans-fers to
for-eignersby per-
sonsandGov-
ment
0.4
. 3
. 3
. 2
. 2
. 2
. 2
. 2
. 2
. 2
. 2
. 2
. 2
. 2
. 2
. 3
. 82.92.64.55.6
4.03.52.52.52.32.52.42.32.32.4
2.32.62.72.82.72.8
Net exports of goodsand services
Netex-
ports
1.1
1.0. 5. 4. 4.6. 1. 1. 3
1.31.1
1.71.3
(8)- 2 . 0- 1 . 8
- . 67.5
11.56.46.1
1.83.72.2
.41.82.04.05.72.2
. 1
4.15.65.15.98.67.2
Ex-ports
7.0
5.43.62.52.43.03.33.54.64.34.4
5.45.94.84.45.37.2
14.719.716.815.813.818.718.016.917.819.823.626.523.123.527.228.630.332.437.039.2
Im-ports
5.9
4.43.12.12.02.43.13.44.33.03.4
3.64.64.86.57.17.97.28.2
10.39.6
12.015.115.816.615.917.819.620.820.923.323.222.925.126.428.532.0
Excessof
trans-fers
(+) orof netex-ports( - ) •
- 0 . 8- . 7- . 2- . 2- . 2- . 4
. 1
. 1- . 1
- 1 . 1- . 9
- 1 . 5- 1 . 1
. 22.22.11.4
- 4 . 6- 8 . 9- 1 . 9- . 5
2.2- . 2
.32.1
.4
.5-1 .6-3 .4
. 12.3
-1 .7- 3 . 1- 2 . 5-3 .2-5 .8-4 .4
Totalincomeor re-ceipts
102.491.275.157.755.064.572.581.390.584.189.298.7
124.1159.0193.6207.6208.0208.4230.4259.6256.2283.3325.1343.3361.6362.0395.9420.4441.1445.8484.5504.8520.8559.8589.9629.2
8 676.4
Statis-ticaldis-
crep-ancy
0.7
- . 8. 7. 3. 6. 5
- . 21.2
(8). 6
1.3
1.0.4
- 1 . 1- 2 . 0
2.54.0
. 1
. 9- 2 . 0
. 3
1.53.32.23.02.92.1
—1.1(6)1.6
- . 8
- 1 . 0- . 7
. 5- . 7- . 5
8 - . 8
Grossna-
tionalprod-uct
or ex-pendi-ture
19291930193119321933193419351936193719381939
194019411942194319441945.1946194719481949
19501951195219531954195519561957 -1958 _1959
196019611962196319641965 7
1963: I...II..III.IV_
1964: I...II..III.IV.
1965: I.._II._III.IV 7
Seasonally adjusted annual rates
67.368.470.370.474.275.276.575.882.082.083.2(
103.190.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1212.0208.5231.3257.6256.5
284.8328.4345. 5364.6364.8398.0419.2441.1447.3483.6503.8520.1560.3589.2628.7675.6
82.684.887.992.489.790.992.697.7
103.4102.8106.2107.5
-15.4-16.4-17.6-22.0-15.5-15.7-16.1-21.9-21.4-20.8-23.0
(8)
2.62.82.82.8
2.72.92.72.7
2.63.02.72.8
4.56.25.77.3
8.87.78.88.9
6.08.07.47.4
30.032.432.634.436.336.037.338.434.740.440.141.4
25.626.226.927.127.528.228.529.528.632.432.734.1
-1 .8- 3 . 5- 2 . 9- 4 . 5- 6 . 1-4 .8- 6 . 1-6 .2-3 .4-5 .0-4 .7-4 .6
576.8584.7594.1603.9614.0624.5635.4643.3660.7670.2680.1
(9)
0.2-1 .6-1 .0- . 3
(6)- . 3- . 7
-2 .2- 3 . 1- 1 . 4
1.4(9)
577.0583.1593.1603.6614.0624.2634.8641.1657.6668.8681.5
1 Personal income less personal tax and nontax payments (fines, penalties, etc.).2 Government transfer payments to persons, foreign net transfers by Government, net interest paid by
government, and subsidies less current surplus of government enterprises.3 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allow-
ances, and wage accruals less disbursements.4 Private business investment, purchases of capital goods by private nonprofit institutions, and residential
housing. See Table C-9.5 Net foreign investment with sign changed.8 Less than $50 million.7 Preliminary estimates.8 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not
available. All other data incorporating or derived from these figures are correspondingly approximate.9 Not available.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
217
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-7.—Gross private and government product, in current and 1958 prices, 7929-65
[Billions of dollars]
Year or quarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965
1963: I...II..III..IV..
1964: I...II..III.IV..
1965: I...II..III.IV 3
Current prices
Totalgrossna-
tionalprod-uct
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1212.0208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6
503.8520.1560.3589.2628.7675.6
Gross private product i
Total
85.871.253.650.959.566.375.283.577.082.9
91.9115.1142.8166.0177.9176.9187. 7214.6240.2237.1
263.9301.0314.3332.7332.3363.8382.6402.0405.2439.4
456.3469.2505.6531.0565.8608.4
Farm
9.7
7.76.34.54.64.77.06.48.36.66.3
6.58.9
13.015.315.315.918.820.223.318.8
20.022.922.220.319.618.818.618.420.819.6
20.520.921.221.620.422.9
Non-farm
89.1
78.264.949.146.354.859.368.875.370.576.6
85.4106.2129.8150.8162.7160.9169.0194.4216.9218.3
243.9278.1292.1312.4312.7345.0364.0383.6384.4419.8
435.8448.3484.4509.4545.4585.5
Grossgov-ern-
mentprod-uct 2
4.3
4.54.74.44.75.65.97.36.97.67.6
7.89.4
15.125.632.235.220.816.717.419.4
20.927.431.231.932.534.236.639.142.144.3
47.550.954.758.262.967.2
1958 prices
Totalgrossna-
tionalprod-uct
203.6
183.3169.2144.1141.5154.3169.6193.0203.3193.0209.4
227.2263.7297.8337.2361.3355.4312. 6309.9323.7324.1
355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9
487.8497.3530.0550.0577.6609.0
Gross private product i
Total
190.9
170.0155.7130.9127.5138.3152.5173.1184.4172.6188.8
205.6236.5257.3272. 9286.9282.6275.1281.3295.0294.0
324.2344.6353.3371.1366.1397.3404.8410.6405.2433.4
444.1452.5483.1502.2528.5558.4
Farm
17.0
16.118.518.017.514.616.514.917,917.818.2
17.518.820.619.619.418.118.517.019.018.4
19.418.419.020.020.420.920.820.320.821.1
21.922.222.122.922.323.3
Non-farm
173.9
153.9137.2112.9110.0123.7136.0158.2166. 5154.8170.6
188.1217.7236.7253.3267.5264. 5256.6264.3276.0275.6
304.8326.2334.3351.1345.7376. 4384.0390.3384.4412.3
422.2430.3461.0479.3506.2535.1
Seasonally adjusted annual rates
Grossgov-ern-
mentprod-uct a
577.0583.1593.1603.6
614.0624.2634.8641.1
657.6668.8681.5694.6
520.2525.5534.7543.6
552.7562.0571.2576.6
592.4602.6614.1624.4
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4>(4)<*)
56.857.658.460.0
61.362.263.664.5
65.266.267.470.2
541.2544.9553.7560.0
567.1575.9582.6584. 7
597.7603.5613.0621.7
493.9497.2505.6511.8
518.7527.0533.2535.0
547.9553.3562.3570.2
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
(4)(4)(4)(4)
12.7
13.313.513.214.016.017.119.918.920.420.6
21.627.240.564.374.472.837.528.628.730.1
31.138.841.841.740.940.741.341.942.142.5
43.744.846.947.849.150 6
47.347.748.148.2
48.448.949.449.7
49.850.250.751.5
1 Gross national product less compensation of general government employees; i.e., gross product accruingfrom domestic business, households, and institutions, and from the rest of the world.2 Includes compensation of general government employees and excludes compensation of employees ingovernment enterprises. Government enterprises are those agencies of government whose operating costsare at least to a substantial extent covered by the sale of goods and services, in contrast to the general activi-ties of government which are financed mainly by tax revenues and debt creation. Government enter-prises, in other words, conduct operations essentially commercial in character, even though they performthem under governmental auspices. The Post Office and public power systems are typical examples ofgovernment enterprises. On the other hand, State universities and public parks, where the fees and ad-missions cover only a nominal part of operating costs, are part of general government activities.
3 Preliminary estimates.4 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.
218
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—8.—Personal consumption expenditures, 1929-65
[Billions of dollars]
Yearor
quarter
1929
19301931193219331934193519361937 .19381939
19401941 .194219431944 .1945 . . . „1946 .1947 . .19481949
1950-—195119521953 —195419551956._.19571958 .1959.__
1960 _196119621963. _19641965*
1963:11 1 . . .III..
1964: II I . . .
IV._.1965: I
I I . - .III . .IV<_.
tion
il co
nsum
pd
itu
res
ilOi
Tota
l
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1373.8398.9428.5
368.0371.1376.6379.5
389.1396.0404.6405.9
416.9424.5432.5440.1
Durable goods
Tota
l
9.2
7.25.53.63.54.25.16.36.95.76.7
7.89.66.96.66.78.0
15.820.422.724.6
30.529.629.333.232.839.638.940.837.944.3
45.344.249.553.458.764.8
52.252.654.154.9
57.459.160.557.9
64.663.565.465.7
and
par
ts
&
<
3.2
2.21.6
. 91.11.41.92.32.41.62.2
2.73.4
. 7
. 8
. 81.04.06.27.59.9
13.111.611.114.213.618.416.418.315.419.5
20.118.422.024.325.829.9
23.623.924.624.9
25.525.727.124.8
30.329.330.329.6
d ho
use-
>men
t
9-g£*
Fu
rni
hoi
4.8
3.93.12.11.92.22.63.23.63.13.5
3.94.94.73.93.84.68.6
10.911.911.6
14.114.414.314.915.016.617.517.317.118.9
18.919.320.521.924.725.9
21.421.422.122.7
23.925.125.024.8
25.525.426.026.9
Oth
er
1 ?,
1.19
.6
. 5
. 6
.7
. 81 0
. 91.0
1.11.41 61.92.2?, 53.23 33.43.2
3 33.63.94.14.24.65.05.25.45.9
6.36 56.97 38.29.0
7.27.37.47.3
8.08.28.48.3
8.88.99.19.2
Nondurable goods
Tota
l37.7
34.029.022.722.326.729.332.935.234.035.1
37.042.950.858.664.371.982.490.596.294.5
98.1108.8114.0116.8118 3123.3129.3135.6140.2146.6
151.3155.9162.6168.0177.5189.0
ing
alco
-ag
es l
a£
Foo
d,ho
li
19.5
18.014.711.410.912.213.615.316.515.615.7
16.619.223.327.429.933.239.043.746.344.8
46.052.154.755.556.558.160.463.966.668.4
70.172.174.476.579.984.9
1
and
bjod
Clo
thi
9.4
8.06.95.14.65.76.06.66.86.87.1
7.48.8
11.013.414.616.518.218.820.119.3
19.621 221.922.122 123.124.124.324.726.4
27.327.929.630.533.335.1
oil
9d
Gas
oli
1.8
1.71.51.51.51.61.71.92.12.12.2
2.32.62.11.31.41.83.03.64.45.0
5.46 16.87.78 29.09.8
10.611.011.6
12.312.412.913.514.014.7
Oth
er
7.0
6.35.74.85.37.27.99.19.89.5
10.1
10.712.214.416.518.420.522.124.425 425.4
27.129.330.531.631.533.134.936.737.940.2
41.643.545.747.650.354.3
Seasonally adjusted annual rates
166.6167.4169.2168.9
173.7175.7179.8180.9
182.8187.9190.5194.8
76.076.376.776.8
78.479.080.881.4
81.984.185.987.8
30.330.231.130.6
32.333.233.834.0
34.335.035. 236.0
13.313.413.513.7
14.013.914.014.2
14.214.714.814.9
47.147.647.847.8
49.049.651.151.3
52.454.054.556.1
Tota
l
30.3
28.726.022.220.120.421.322.824.424.325.0
26.028.130.834.237.239.845.349.854.757.6
62.467 973.479.985 491.498.5
105 0112.0120.3
128.7135.1143 0152.3162.6174.7
149.2151.1153.3155.7
158.0161.2164.3167.1
169.5173.1176.7179.6
Services
bo
Hou
si
11.5
11.010.39.07.97.67.78.08.58.99.1
9.410.211.011.512.012.513.915.717.519.3
21.323 926.529.331 733.736.038.541.143.7
46.348.752.055.559.564.7
>er
atio
n
oT3
hol
Hou
se
4.0
3.93.53.02.83.03.23.43.73.63.8
4.04.34.85.25.96.46.87.58.18.5
9.510 411.112.012 614.015.216.217.318.5
20.020.822.023.124.425.8
54.555.355.756.5
57.558.860.161.4
62.764.065.366.7
22.822.823.523.3
23.624.424.824.8
24.925.526.326.6
>
ft
Tra
ns
2.6
2.21.91.61.51.61.71.92.01.92.0
2.12.42.73.43.74.05.05.35.85.9
6.26.77.17.87.98.28.69.09.3
10.1
10.810.611.011.411.712.2
11.311.411.411.5
11.711.711.811.9
11.912.112.312.5
Oth
er
12.2
11.510.38.67.98.28 79.5
10.29 9
10.1
10.411.212.314.015.616 819.7?,1 423.323.9
?5 426.928.730.833.235.538.641.344.348.0
51.654 958.062.367.072.0
60.561.662.864.4
65.166.367.669.1
70.071.472.773.8
* Quarterly data are estimates by Council of Economic Advisers.2 Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.4 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics (except as noted).
219
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—9.—Gross private domestic investment, 1929—65
[Billions of dollars]
Year orquarter
Totalprivate
domesticinvest-ment
Fixed investment
Total
Nonresidential
Total
Structures
Total Non-farm
Producers'durable
equipment
TotalNon-farm
Residential structures
Total Non-farm Farm
Change inbusiness
inventories
Total
1929..
1930-1931. .1932..1933..1934-1935..1936..1937-1 9 3 8 -1939..
1940..1 9 4 1 -1942.-1 9 4 3 -1944-1 9 4 5 -1946-1947-1 9 4 8 -1949..
1950-1951..1952-1953..1954..1955..1956-1957..1958-1959..
1960-1 9 6 1 -1962..1963-1964-1965 2.
1963: II I —III—IV...
1964: II I .I I I . . .I V . . .
1965: II I -I I I . .IV2._
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.860.975.3
74.871.783.086.992.9
104.9
14.5
10.66.83.43.04.15.37.29.27.48.9
11.013.48.16.48.1
11.724.234.441.338.8
47.349.048.852.153.361.465.366.562.470.5
71.369.777.081.288.197.5
10.6
8.35.02.72.43.24.15.67.35.45.9
7.59.56.05.06.8
10.217.023.426.925.1
27.931.831,634.233.638.143.746.441.645.1
48.447.051.754.360.569.8
5.0
4.02.31.2.9
1.01.21.62.41.92.0
2.32.91.91.31.82.96.87.58.88.5
9.211.211.412.713.114.317.218.016.616.7
18.118.419.219.721.124:3
4.8
2.31.2.9
1.01.21.62.41.81.9
2.22.81.81.21.72.76.16.78.07.7
8.510.410.511.912.313.616.517.215.815.9
17,417.718.519.020.423.7
5.6
4.32.71.51.52.22.94.04.93.54.0
5.36.64.13.75.07.3
10.215.918.116.6
18.720.720.221.520.623.826.528.425.028.4
30.328.632.534.639.445.5
4.9
3.72.41.31.31.82.43.34.12.93.4
4.65.63.53.24.26.39.2
14.015.513.7
15.717.717.618.618.021.224.225.922,025.4
27.725.829.431.235.841.3
4.0
2.31.7.7.6.9
1.21.61.92.02.9
3.43.92.11.41.31.57.2
11.114.413.7
19.417.217.218.019.723.321.620.220.825.5
22.822.625.326.927.527.6
3.8
2.21.6.7.5.8
1.11.51.81.92.8
3.23.71.91.21.11.46.7
10.413.612.8
18.616.416.417.219.022.720.919.520.124.8
22.222.024.826.327.027.1
0.2
. 1
. 10)0 )
1.7
- . 4-1 .1-2 .5-1 .6- . 71.11.32.5
- . 9.4
2.24.51.8
- . 6-1 .0-1.0
6.4- . 54.7
-3 .1
10.33.1.4
-1 .56.04.71.3
-1 .54.8
3.62.06.05.74.87.4
Seasonally adjusted annual rates
82.684.887.992.4
89.790.992.697.7
103.4102.8106.2107.5
78.180.182.184.3
86.586.888.890.2
94.696.498.6
100.5
52.153.455.156.5
58.158.961.663.5
66.968.470.973.2
19.019.220.020.5
20.721.121.121.5
23.224.524.225.4
18.418.519.419.8
20.020.420.520.8
22.523.823.624.8
33.134.235.136.0
37.537.940.542.0
43.743.946.747.8
30.030.931.832.3
33.934.436.838.3
40.140.242.242.9
26.026.726.927.9
28.427.927.226.7
27.728.027.727.2
25.426.126.427.3
27.827.326.626.2
27.127.527.126.7
0.6.6.6.6
.6
.6
.6
.6
.6
. 6
.6
. 5
4.54.75.88.1
3.34.13.87.5
8.86.47.67.0
1 Less than $50 million.
2 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
220
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-10.—National income by type of income, 1929-65
[Billions of dollars]
Year orquarter
Totalna-
tionalin-
come1
Total
Compensation ofemployees
andsala-ries
Sup-ple-
mentsto Total
andsala-ries 2
Business and pro-fessional incomeand inventory
valuationadjustment
In-come
ofunin-corpo-ratedenter-prises
Inven-toryvalu-ation
adjust-ment
In-come
offarmpro-prie-tors3
Rentalin-
comeof
per-sons Total
Corporate profitsand inventory
valuationadjustment
Corpo-rate
profitsbeforetaxes4
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953 . ._1954195519561957_19581959
196019611962 . . . .19631964.1965 «
86.8
75.459.742.840.349.557.65.073.667.472.6
81.1104.137.1170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.1514.4
7554.6
51.1
46.839.831.129.534.337.342.947.945.048.1
52.164.885.3
109.5121.2123.1117.9128.9141.1141.0
1516180.195.3209.1208.0224.5243.1256.0257.8279.1
294.302.6323.6341.0365.3391.9
50.4
46.239.130.529.033.736.741.946.143.045.9
49.862.182.1
105.8116.7117.5112.0123.0135.4134.5
146.8171.1185.1198.3196.5211.3227.8238.239.9258.2
270.8278.1296.1311.2333.5357. 4
0.7.7.6
.5
.6
.61.01.2.02.2
2.32.73.23.84.55.65.95.5.86.5
7.89.6
10.10.911.513.215.217.317.920.9
23.424.627.529.831.834.5
9.0
7.65.83.63.34.75.56.77.26.97.4
8.611.114.017.018.219.221.620.322.722.6
24.026.127.127.527.630.331.332.833.235.1
34.235.637.137.839.140.3
8.8
6.85.13.33.94.85.56.87.26.77.6
8.611.714.417.118.319.323.321.823.122.2
25.126.526.927.627.630.531.833.133.235.3
34.335.637.137.839.140.6
0.1
.3- . 5- . 1
- . 2
- . 4- . 2- . 1- . 1
-1 .7- 1 . 5- . 4
.5
- 1 . 1- . 3
.2- . 2
2
-.3- . 1- . 1
6.24.33.42.12.63.05.34.36.04.44.44.56.49.
11.711.612.214.915.217.512.713.515.815.013.012.411.411.411.313.411.4
12.012.813.013.012.014.3
5.44.83.82.72.01.71.71.82.12.62.72.93.54.55.15.45.66.67.18.08.4
9.410.311.512.713.613.914.314.815.415.6
15.816.016.717.618.218.6
10.5 '0.5
10.017.721.525.124.119.724.631.535.228.
- . 3
1963: IIII I I . . . .IV
1964: IIII I I . . . .IV
1965: IIII I I . . . .IV6...
470.4476.7484.6492.6501.6510.5519.5526.3
540.6549.5557.9(8)
333.6338.0343.0349.5355.1361.9369.0375.4
382.4387.9393. 7,403.6
304.5308.4312.9318.8324.2330.4336.8342.6
348.9353.6359.0368.1
29.029.630.130.7
30.831.532.232.7
33.534.334.735.5
Seasonally adjusted annua]
37.537.637.938.0
38.539.039.439.6
39.940.140.440.7
37.437.738.038.0
38.539.139.539.5
40.040.640.740.9
0.1- . 1- . 1
(5)
(5)
- . 1- . 1
. 1- . 1- . 5- . 3- . 2
13.212.913.013.0
11.912.012.012.2
12.014.515.015.5
rates
17.117.417.718.0
17.918.118.318.5
18.518.618.618.7
56.357.659.159.6
63.664.565.564.9
71.772.073.5(8)
56.158.558.960.864.064.565.365.9
73.173.974.6(8)
0.2- . 9
.2- 1 . 2- . 4
(5).2
- 1 . 0
-1 .4- 1 . 8-1 .2- 1 . 6
12.713.213.914.514.515.015.415.716.116.416.717.1
1 National income is the total net income earned in production. It differs from gross national productmainly in that it excludes depreciation charges and other allowances for business and institutional con-sumption of durable capital goods, and indirect business taxes. See Table C-ll.
2 Employer contributions for social insurance and to private pension, health, and welfare funds; compensa-tion for injuries; directors' fees; pay of the military reserve; and a few other minor items.
3 Excludes income resulting from net reductions of farm inventories and gives credit in computing in-come to net additions to farm inventories during the period.
4 See Table C-64 for corporate tax liability and profits after taxes.« Less than $50 million.6 Preliminary estimates.7 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not
available. All other data incorporating or derived from these figures are correspondingly approximate.8 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.
795-983 O—06 15221
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-l 1.—Relation of gross national product and national income, 7929-65
[Billions of dollars]
Year or quarterGrossna-
tionalprod-uct
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1212.0208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6
503.8520.1560.3589.2628.7675.6
Less:Capital
con-sump-tionallow-ances
7.9
8.C7.97.47.06.86.97.07.27.37.3
7.58.29.8
10.211.011.39.9
12.314.516.6
18.321.223.225.728.131.534.137.138.941.4
43.445.250.052.855.758.7
Equals:Netna-
prod-
95.2
82.468.050.748.658.265.475.483.377 A83.2
92.2116.3148.1181.3199.1200.7198.6219.1243.0239.9
266.4307.2322.3338.9336.8366.5385.2404.0408.4442.3
460.3474.9510.4536.5573.0616.8
Plus:Sub-sidiesless
currentsurplusof gov-
ern-mententer-prises
-0.1
- . 10)0)0)
.3
.40)
.2
. 5
. 4
. 1
. 2
. 2
. 7
. 8
. 9- . 2- . 1- . 1
.2
.2- . 1— 4-.2- . 1
. 8
. 9
. 9
. 1
.21.41.4.7
1.21.2
Less:
Indirect business taxes
Total
7.0
7.26.96.87.17.88.28.79.29.29.4
10.011.311.812.714.115.517.118.420.121.3
23.325.227.629.629.432.134.937.338.541.5
45.247.751.554.658.062.0
Fed-eral
1.2
1.0. 9. 9
1.62.22.22.32.42.22.3
2.63.64.04.96.27.17.87.88.08.0
8.99.4
10.310.99.7
10.711.211.811.512.5
13.513.614.615.316.116.8
Stateandlocal
5.8
6.16.05.85.45.66.06.46.86.97.0
7.47.77.77.88.08.49.3
10.612.113.3
14.515.817.318.719.721.423.625.527.028.9
31.734.136.939.241.945.2
Busi-ness
transferpay-
ments
0.6
. 5
. 6
. 7
. 7
.6
.6
.6
.6
.4
. 5
.4
. 5
. 5
. 5
. 5
. 5
. 5
.6
. 7
. 8
.8
.91.0L.2L.IL.2L.4L. 5L.6L.7
1.92.02.12.22.32.3
Sta-tistical
dis-crep-ancy
0.7
- . 8.7.3.6.5
- . 21.2
0). 6
1.3
1.0. 4
- 1 . 1- 2 . 0
2.54.0
. 1
. 9- 2 . 0
. 3
1.53.32.23.02.92.1
- 1 . 10)
1.6- . 8
- 1 . 0- . 7
. 5- . 7- . 5
3 - . 8
Equals:Na-
tionalincome
1929..
1930..1931_.1932..1933..1934..1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948-1949..
1950..1951..1952..1953..1954..1955..1956..1957..1958-1959-
1960-1 9 6 1 -1962..1963_.1964..1965 2.
1963: I___I I -III.IV..
1964: I....l i -ra..IV..
1965: I___.II—III.IV 2
Seasonally adjusted annual rates
577.0583.1593.1603.6
614.0624.2634.8641.1
657.6668.8681.5694.6
51.552.553.254.0
54.655.256.156.9
57.758.359.159.8
525.5530.6540.0549.6
559.4569.0578.6584.3
599.9610.5622.4634.7
1.0.8.6.6
.91.21.31.5
1.41.31.21.1
53.754.154.755.6
56.457.658.859.3
61.561.462.062.9
15.215.215.315.5
15.616.016.416.4
17.716.716.116.5
38.538.939.540.1
40.841.642.442.9
43.844.745.946.4
2.12.22.32.3
2.32.32.32.4
2.32.32.32.3
0.2-1 .6-1 .0
- . 3
0)- . 3—.7
-2 .2
-3 .1-1 .4
1.4(«)
86.8
75.459.742.840.349.557.265.073.667.472.6
81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.1514.4
3 554.6
470.4476.7484.6492.6
501.6510.5519.5526.3
540.6549.5557.9
1 Less than $50 million.2 Preliminary estimates.3 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not
available. All other data incorporating or derived from these figures are correspondingly approximate.* Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.
222
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—12.—Relation of national income and personal income, 1929-65
[Billions of dollars]
Year or quarter Nationalincome
Corpo-rate
profitsand in-
ven-toryvalu-ationad-just-ment
Contri-butions
forsocialinsur-ance
Wageac-
crualslessdis-
burse-ments
Plus:
Gov-ern-
menttrans-
fer pay-mentsto per-
sons
Inter-est
paidby
gov-ern-
ment(net)
and bycon-
sumers
Divi-dends
Busi-ness
trans-fer
pay-ments
Equals:
Per-sonal
in-come
1930 _1931 _1932.1933 _1934.1935.1936.1937.1938.1939.
1940.1941.1942.1943.1944.1945.1946.1947.1948.1949.
1950.1951.1952.1953.1954.1955.1956.1957..1958..1959.
I960..1961..1962..1963..1964..1965 V
1963: I —II-IIIIV.
1964: I___II..IIIIV.
1965: I___II..IIIIV i
86.8
75.459.742.840.349.557.265.073.667.472.6
81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.1514.4
2 554.6
470.4476.7484.6492.6
501.6510.5519.5526.3
540.6549.5557.9
10.5
7.02.0
- 1 . 3- 1 . 2
1.73.45.66.84.96.3
15.220.324.423.819.219.325.633.030.8
37.742.739.939.638.046.946.145.641.151.7
49.950.355.758.164.5
273.1
0.2
.3
.3
.3
.3
.3
.3
.61.82.02.1
2.32.83.54.55.26.16.05.75.25.7
6.98.28.78.89.8
11.112.614.514.817.6
20.721.424.026.827.829.5
0.2- . 2
0.9
1.02.11.41.51.61.82.91.92.42.5
2.72.62.62.53.15.6
10.811.110.511.6
14.311.512.012.814.916.117.119.924.124.9
26.630.431.233.034.236.8
2.5
1.81.81.71.6..7.7,7.9.91.9
2.12.22.22.63.34.25.25.56.16.5
7.27.68.19.09.5
10.111.212.012.113.6
15.115.016.117.519.120.6
5.8
5.54.12.52.02.62.84.54.73.2
4.04.44.34.44.64.65.66.37.07.2
8.88.68.68.99.3
10.511.311.711.612.6
13.413.815.215.817.218.9
Seasonally adjusted annual rates
0.6
.5
.6
.7
.7
.6
1.01.21.11.21.41.51.61.7
1.92.02.12.22.32.3
56.357.659.159.6
63.664.565.564.9
71.772.073.5
26.226.627.027.4
27.327.628.028.4
28.929.229.630.2
0.1- . 1
33.532.532.733.3
34.633.934.134.4
36.035.138.937.3
17.017.217.818.2
18.718.819.419.5
19.920.420.821.1
15.615.715.816.1
16.717.117.417.7
18.018.619.219.9
2.12.22.32.3
2.32.32.32.4
2.32.32.32.3
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178. 7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
40L0416.8442.6464.8495.0530.7
456.1460.1467.1475.6
483.0490.6499.1507.1
516.2524.7536.0546.0
1 Preliminary estimates.2 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not
available. All other data incorporating or derived from these figures are correspondingly approximate.* Not available.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
223
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-13.—Sources of personal income, 1929-65
[Billions of dollars]
Year or quarter
1929-.
1930..1931 _.1932_.1933_.1934..1935_.1936..1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951-1952-1953-1954-1955-1956-1957-1958-1959-
1960-1961-1962-1963-1964-1965 6
1963: I . .II .IIIIV.
1964: I - .II .IIIIV.
1965: I - .II .IIIIV
Totalper-
sonalincome
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6464.8495.0530.7
Wage and salary disbursements i
Total
50.4
46.239.130.529.033.736.741.946.143.045.9
49.862.182.1
105.6116.9117.5112.0123.0135.3134.6
146.7171.0185.1198.3196.5211.3227.8238.7239.9258.2
270.8278.1296.1311.2333.5357.4
Commodity-producingindustries
Total
21.5
18,514.39.99.8
12.113.515.818.415.317.4
19.727.539.148.950.345.846.054.361.057.7
64.676.181.889.485.492.8
100.2103.899.7
109.1
112.5112.8120.8125.7133.9143.9
Manu-factur-
ing
16.1
13.810.87.77.89.6
10.812.414.611.813.6
15.621.730.940.942.938.236.542.547.244.7
50.359.464.271.267.673.979.582.578.786.9
89.789.896.7
100.6107.2115.5
Distributiveindus-tries
15.6
14.512.59.88.89.9
10.711.813.212.613.3
14.216.318.020.122.724.831.035.237.637.7
39.944.346.949.850.253.457.760.560.864.8
68.169.172.576.081.186.5
Serviceindus-tries
8.4
8.07.15.85.25.75.96.57.16.87.1
7.58.19.09.9
10.912.014.416.117.918.6
19.921.723.325.126.428.931.633.935.938.7
41.544.046.849.954.158.1
Gov-ern-
ment
4.9
5.25.35.05.16.16.57.97.58.28.2
8.410.216.026.633.031920.717.418.920.6
22.428.933.134.134.636.238.340.443.545.6
48.752.256.059.664.368.9
Otherlaborin-
come l
0.6
.7
.7
.91.11.51.81.92.32.73.0
3.84.85.36.06.37.38.49.59.9
11.3
12.012.713.914.816.518.2
Proprietors'income
Busi-nessand
profes-sional
Seasonally adjusted annual rates
9.0
7.65.83.63.34.75.56.77.26.97.4
8.611.114.017.018.219.221.620.322.722.6
24.026.127.127.527.630.331.332.833.235.1
34.235.637.137.839.140.3
Farm
456.1460.1467.1475.6
483.0490.6499.1507.1
516.2524.7536.0546.0
304.5308.4312.9318.8
324.2330.4336.7342.7
348.9353.6359.0368.1
123.0124.7126.6128.6
130.2132.9135.2137.4
140.8142.3144.4148.0
98.699.7
101.0103.0
104.1106.2108.4110.0
113.0114.2116.0118.9
74.575.376.477.7
79.080.481.983.2
84.786.187.088.2
48.849.450.251.1
52.453.554.655.9
56.557.558.559.9
58.259.059.761.5
62.663.565.066.2
66.867.769.072.0
14.414.614.915.4
15.816.316.717.1
17.518.118.418.9
37.537.637.938.0
38.539.039.439.6
39.940.140.440.7
6.2
4.33.42.12.63.05.34.36.04.44.4
4.56.49.8
11.711.612.214.915.217.512.7
13.515.815.013.012.411.411.411.313.411.4
12.012.813.013.012.014.3
13.212.913.013.0
11.912.012.012.2
12.014.515.015.5
See footnotes at end of table.
224
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—13.—Sources of personal income•, 1929-65—Continued
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 «
1963: I - - - .I I . . .III
1964: III.III
1965: I
IIIIV s.
Rentalincomeof per-
5.4
4.83.82.72.01.71.71.82.12.62.7
2.93.54.55.15.45.66.67.18.08.4
9.410.311.512.713.613.914.314.815.415.6
15.816.016.717.618.218.6
17.117.417.718.0
17.918.118.318.5
18.518.618.618.7
JLJIVI-
dends
5.8
5.54.12.52.02.62.84.54.73.23.8
4.04.44.34.44.64.65.66.37.07.2
8.88.68.68.99.3
10.511.311.711.612.6
13.413.815.215.817.218.9
Personalinterestincome
7.2
6.86.76.35.75.85.75.55.65.55.5
5.45.55.35.35.66.36.87.57.98.5
9.29.9
10.611.813.114.215.717.618.920.7
23.425.027.731.134.337.1
Transfer payments
Total
1.5
1.52.72.22.12.22.43.52.42 .83.0
3.13.13.13.03.66.2
11.311.711.212.4
15.112.513.014.016.017.318.521.425.726.6
28.532.433.335.236.639.2
Old-ageand sur-vivorsinsur-ance
benefits
(*)(*)(4)
(*)0.1.1.2.2.3.4.5.6.7
1.01.92.23.03.64.95.77.38.5
10.2
11.112.614.315.216.018.0
Stateunem-ploy-
ment in-surancebenefits
(4)0.4
. 4
.5
.3
.3
.1
.1
.41.1. 8. 8
1.7
1.4.8
1.01.02.01.41.41.83.92.5
2.84.02.92.82.62.2
Vet-erans'
benefits
0.6
. 61.6. 8.5.4.5
1.9.6.5.5
.5
.5
.5
.5
. 92.86.76.75.85.1
4.93.93.93.73.94.34.34.44.64.6
4.64.84.85.05.35.6
Other
0.9
. 9l . lL.41.61.8L.9L.6L81.92.0
2.02.22.22.22.42.73.13.74.14.9
7.95.96.06.36.56.87.27.98.79.4
10.010.911.212.112.713.4
Less:Personalcontri-butionsfor social
insur-ance
0.1
. 1
.2
.2
.2
.2
.2
.2
.6
.6
.6
.7
. 81.21.82.22.32.02.12.22.2
2.93.43.84.04.65.25.86.76.97.9
9.39.6
10.311.812.413.2
Non-agricul-tural
personalincome 3
Seasonally adjusted annual rates
15.615.715.816.1
16.717.117.417.7
18.018.619.219.9
29.730.431.732.7
33.233.834.835.3
36.036. 737.538.2
35.634.735.035.6
36.936.236.436.7
38.437.541.239.7
15.015.115.415.5
15.815.916.116.3
16.616.620.418.6
3.02.82.72.7
2.72.62.52.4
2.42.22.22.0
4,95.05.05.1
5.25.35.35.3
5.55.65.65.7
12.711.811.812.2
13.112.512.512.7
13.913.113.113.4
11.611.711.912.0
12.212.312.512.7
12.913.013.313.6
77.6
70.860.846.743.249.853.963.066.762.666.9
72.387.8
111.0137.3151.2156.4161.0173.0189.4191.3
210.9236.4254.1271.9274.7296.4318.5336.6344.3368.5
385.2400.0425.5447.4478.7512.1
438.6442.9449.7458.3
466.8474.1482.8490.7
500.0505.7516.6526.1
1 The total of wage and salary disbursements and other labor income differs from compensation of em-ployees in Table C-10 in that it excludes employer contributions for social insurance and excludes the excessof wage accruals over wage disbursements.
2 Excludes income resulting from net reductions of inventories and gives credit in computing income tonet additions to inventories during the period.
3 Nonagricultural income is personal income exclusive of net income of unincorporated farm enterprises,farm wages, agricultural net interest, and net dividends paid by agricultural corporations.
4 Less than $50 million.5 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
225
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-14.—Disposition of personal income, 1929-65
Year orquarter
Per-sonalncome
Less:Per-sonaltaxand
nontaxpay-
ments
Equals:Dispos-
ableper-sonal
income
Less: Personal outlays
Totalout-lays
Per-sonalcon-
sump-tion
expend-itures
Interestpaid by
con-sumers
Per-sonal
transferpay-
mentsto for-eigners
Equals:Per-sonal
saving
Percent of disposablepersonal income
Personaloutlays
Total
Con-sump-tion
expenditures
Per-sonal
saving
1929 _
1930...1931 ___19321933._ .1934.__1935..-1936.--.1937._ .1938._.1939._ .
1940..1941..1942..1943-1944..1945..1946..1947..1948-1949..
1950195119521953195419551956195719581959
196019611962196319641965 1
1963: I---II-.III-IV _
1964: I...II-.III-IV.
1965: I...II_.III-IV i
Billions of dollars Percent
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6464.8495.0530.7
2.6
2.51.91.51.51.61.92.32.92.92. 4
2.63.36.0
17.818.920.918.721.421.118.6
20.729.034.135.632.735.539.842.642.346.2
50.952.457.460.959.265.4
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3403.8435.8465.3
79.1
71.161.449.346.552.056.462.767.464.867.7
71.881.789.3
100.1109.1120.7144.8162.5175.8179.2
193.9209.3220.1234.2241.0259.5272.6287.8296.5318.2
333.0343.2363.7383.4409.5440.2
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1373.8398.9428.5
1.5
. 9
.7
. 5
. 5
. 5
. 5
.6
.7
.7
.7
.8
.9
.7
. 5
.5
.5
.81.11.51.9
2.42.73.03.84.04.75.45.85.96.5
7.37.68.19.0
10.011.1
0.3
. 3
. 3
.2
. 2
.2
.2
.2
.2
. 2
.2
.2
.2
. 1
.2
.4
.5
.6
.7
.7
. 5
.4
.4
.4
. 5
. 5
.4
. 5
. 5
. 5
.6
. 5
. 5
. 5
.6
.6
.6
Seasonally adjusted annual rates
456.1460.1467.1475.6
483.0490.6499.1507.1
516.2524.7536.0546.0
60.460.661.061.6
60.456.958.860.7
64.866.264.865.7
395.7399.4406.1414.0
422.6433.6440.3446.4
451.4458.5471.2480.3
377.1380.5386.3389.5
399.3406.3415.3416.9
428.1436.1444.4452.3
368.0371.1376.6379.5
389.1396.0404.6405.9
416.9424.5432.5440.1
8.68.89.29.4
9.69.8
10.210.4
10.611.011.311.6
0.6.6.6.6
.6
. 5
. 5
.6
.6
.6
.6
.61
4.2
3.42.6
.42.13.63.8.7
2.6
3.811.027.633.437.329.615.27.3
13.4
13.117.318.218.316.415.820.620.822.319.1
17.021.221.620.426.325.1
18.518.919.824.4
23.327.325.029.5
23.322.426.828.0
95.0
95.495.9
101.3102.099.396.394.694.798.996.3
94.988.276.475.074.580.390.595.792.995.0
93.792.492.492.793.694.393.093.393.094.3
95.194.294.494.994.094.6
95.395.395.194.1
94.593.794.393.4
94.895.194.394.2
92.
93.94.99.
100.98.95.93.93.97.95.
93.
7
8486023460
686.975.74.74.79.
7407
89.694.91.93.
688
92.391. 090.991.91.92.91.91.91.92
1940203
92.992.092.2929192
93929291
929191
651
0977
139
90.9
92.4929191
686
i Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
226
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-15.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 prices, 1929-65
Year or quarter
1929..
1930..1931..1932..1933-1934..1935..1936..1937-1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951..1952_.1953 _.1954..1955 _.1956..1957..1958-.1959..
I960. .1961-.1962. .1963._1964 __1965 2.
1963: I —II--III.IV.
1964:II.-
rv.1965: I . . .
III-IV 2.
Disposable personal income
Total (billionsof dollars)
Currentprices
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3403.8435.8465.3
1958prices
150.6
139.0133.7115.1112.2120.4131.8148.4153.1143.6155.9
166.3190.3213.4222.8231.6229.7227.0218.0229.8230.8
249.6255.7263.3275.4278.3296.7309.3315.8318.8333.0
340.2350.7367.6380.6406.5428.1
Per capita(dollars)
Currentprices
605516390362414459518552504537
573695867976,057,074,132,178,290,264
,364,469
1,5181,5831,5851,6661,7431,8011,8311,905
1,9371,9832,0642,1322,2682,391
prices
1,236
1,1281,077
921893952
1,0351,1581,1871,1051,190
1,2591,4271,5821,6291,6731,6421,6051,5131, 5671,547
1,6461,6571,6781,7261,7141,7951,8391,8441,8311,881
1,8831,9091,9692,0092,1162,200
Personal consumption expenditures
Total (billionsof dollars)
Currentprices
77.2
60.548.645.851.355.761.966.563.9
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1373.8398.9428.5
1958prices
139.6
130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2
155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5
230.5232.8239.4250.8255.7274.2281.4288.2290.1307.3
316.2322.6338.6352.4372.1394.1
Per capita(dollars)
Currentprices
Seasonally adjusted annual rates
634
567487389364406437483516492510
536604656726782855
1,0141.115,184,185
,259,337,381,441,456,539,585,6431,6661,758
1,8001,8241,9021,9732,0762,202
1958prices
395.7399.4406.1414.0
422.6433.6440.3446.4
451.4458.5471.2480.3
374.3376.8382.7388.7
395.7404.9410.7414.5
417.9421.7432.3439.4
2,1002,1122,1402,173
2,2112,2612,2882,311
2,3302,3602,4182,456
1,9861,9932,0162,040
2,0702,1112,1342,146
2,1572,1702,2182,247
368.0371.1376.6379.5
389.1396.0404.6405.9
416.9424.5432.5440.1
348.3350.0355.1356.4
364.5369.8377.3376.8
386.1390.5396.9402.8
1,9531,9631,9841,991
2,0352,0652,1022,101
2,1522,1852,2192,251
1,145
1,0591,016919897934985
1,0801,1101,0791,131
1,1781,2401,1971,2131,2381,3081,4391,4311,4381,451
1,5201,5091,5251,5721,5751,6591,6731,6831,6661,735
1,7501,7561,8141,8611,9372,025
1,8481,8511,8711,870
1,9071,9281,9601,950
1,9932,0102,0362,060
Popu-lation(thou-
sands) 1
121,875
123,188124,149124,949125, 690126,485127,362128,181128,961129,969131,028
132,122133,402134, 860136, 739138,397139,928141,389144,126146, 631149,188
151,684154,287156,954159.565162,391165,275168,221171,274174,141177,073
180,684183,756186,656189,417192,119194,583
188,454189, 072189,809190, 560
191,161191,780192,478193,182
193, 762194,298194,910195,536
1 Population of the United States including armed forces abroad. Annual data are for July 1; quarterlydata are for middle of period.
2 Preliminary estimates.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Sources: Department of Commerce (Office of Business Economics and Bureau of the Census) and Councilof Economic Advisers.
227
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G—16.—Number and money income of families and unrelated individuals, 1947—64
Year
Families194719481949 _ _
19501951195219531954
195519561957 - - -1958 .1959
19601961 .196219631964
Individuals194719481949 - _
19501951195219531954 _
1955 - .1956195719581959
19601961 . . . . .196219631964
All families
Number(millions)
37.238.639.3
39.940.640.841.242.0
42.943.543.744.245.1
45.546.347.047.447.8
Medianincome (1964
prices)
$4,2144,1194,049
4,2934,4394,5574,9284,819
5,1435,4785,4665,4575,773
5,9045,9706,1356,3586,569
All individuals
Number(millions)
8.28.49.0
9.49.19.79.59.7
9.99.8
10.410.910.9
11.111.211.011.212.1
Medianincome (1964
prices)
$1,3921,3531,418
1,4101,4581,6711,6421,442
1,5401,6501,6991,6521,699
1,8361,8421,8201,8421,983
Poor families i
Number(millions)
11.512.213.0
12.111.511.010.311.2
10.39.59.69.89.4
9.39.59.08.78.4
Incidence
313233
3028272527
2422222221
2020191818
Poor individuals 2
Number(millions)
4.34.54.7
4.94.74.64.65.0
4.84.74.85.15.0
5.04.94.74.85.1
Incidence
535452
5251474851
4948464746
4544434342
1 Poverty is denned to include all families with total money income of less than $3,000 in 1964 prices;these are also referred to as poor families. Incidence of poverty is measured by the percent that poor familiesare of all families.
2 Poverty is denned to include all unrelated individuals with total money income of less than $1,500 in1964 prices. Incidence of poverty is measured by the percent that poor unrelated individuals are of allunrelated individuals.
NOTE.—The number of poor and incidence of poverty shown in this table differ from data shown inChapter 3, Tables 17,18 and 19. In Chapter 3, poverty is defined by the new Social Security Administrationpoverty-income standard; it takes into account family size, composition, and place of residence (as wellas the amount of money income).
Data for Alaska and Hawaii included beginning 1959.
Source: Department of Commerce, Bureau of the Census.
228
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-17.—Financial saving by individuals, 1939-65 l
[Billions of dollars]
Year or quarter
1939 . - .
1940 _ _194119421943194419451946194719481949
19501951195219531954195519561957 _19581959 . . . .
1960196119621963 . . _ . .19641965 io
1963: III. ._IIIIV
1964: III.— _IIIIV
1965: IIIIII
Total
4.2
4.210.529.338.741.437.314.56.72.72.1
1.311.113.110.99.66.8
14.216.416.913.2
8.015.921.222.331.834.3
6.63.46.85 5
7.27.78.58 5
6.78.3
10.78.6
Cur-rencyand
bankde-
posits
3.0
2.94.8
10.916.217.519.010.62.0
-1 .8—1.4
3.55.97.04.75.43.34.74.9
10.24.4
2.78.7
18.017.519.823.6
3.22.35.56.5
2.33.65.78 2
1.95.07.98.8
Sav-ings
shares
0.1
.3
.4
.3
.6q
.1
.23
.3,6
1.72.33.34.04.75.25.45.26.47.2
8.39.4
10.011.811.39.5
3.23.31.73.7
2.53.32.13 5
2.12.51.43.6
Securities
Total
- 0 . 8
- . 42.6
10.314.115.79.9
-1 .42.23.02.3
.9
.73.43.4.2
6.25.15.21.19.7
- . 5.9
- . 9
4.46.2
- . 9- . 31.51
1.61.31.4
I
1.52.01.31.4
U.S.sav-ings
bonds
0.7
.92.88.0
11.111.86.91.02.01.61.5
.3- . 5
.1
.2
.6
.3- . 1
-1 .9- . 5
- 1 . 8
- . 2.8.4
3
.1
.1
.1
Othergov-ern-
ment3
- 0 . 9
- . 8.4
2.33.34.64.2
- 2 . 6- . 2
.5
.1
- . 1- . 41.22.0
- 1 . 13.73.24.4
- 1 . 010.8
- . 9- . 4
.92.04.15.7
—. 7.2
2.06
1.6.9
1.5I
1.31.31.51.6
Cor-porateand
other
- 0 . 6
- . 4- . 5
- . 3- . 7
- 1 . 2.2.4.9.7
.71.62.11.2.6
2.21.92.82.6.6
.6
.5-2 .2-2 .8- . 6
- . 6
g
- . 2
W 6
Pri-
insur-ancere-
serves
1.7
1.82.12.52.83.23.53.43.63.73.7
3.94.14.85.05.25.55.55.15.35.5
5.55.86.46.67.68.1
1.41.51.71.9
1.91.81.82.0
2.11.72.12.2
Non-in-
suredpen-sion
funds
0.1
.1
.1
.1
.2
.6
.9
.3
.3
.4
.6
.91.51.72.02.22.42.83.13.33.8
4.14.44.44.75.45.9
1 2LI
1
. 2
.4.. 2
5L.4L.4
Gov-ern-
mentinsur-anceandpen-sionre-
serves8
1.3
1.31.92.63.95 05.13.53.53.62.3
1.14.24.43.22.63.13.73.2.6
2.3
3.41.13.04.45.45.1
2.81.5
1
.33.21.9
.63.61.0
- . 1
Less:
Mort-gagedebt6
0.5
.9
.8
.1- . 4—. 1
.23.24.24.74.0
6.86.96.47.38.8
12.110.57.99.3
13.2
10.911.913.415.915.615.6
3.53.84.04 6
3.83.83.84.2
3.43.84.14.3
Increase indebt
Con-sumerdebt 7
0.8
1.0.7
-3 .0-1 .0
.1
.52.32.82.42.6
3.71.04.43.71.06.13.22.4.2
6.1
4.21.55.06.36.58.8
- . 72.51.53.0
- . 72.61.63.0
- . 43.42.33.5
Secu-ritiesloans8
-0 .2
- . 2- . 1
.3
.61 41.5
- 2 . 3—.8
.4
.3
.2- . 3
.6
.4
.9
. 6- . 8- . 1
.42
.31.01.1. 9. 1
- . 4
- 1 . 3. 9.8.5
- . 6.6.3
- . 3
- . 1.7
-2 .01.0
* Individuals' saving, in addition to personal holdings, covers saving of unincorporated business, trustfunds, and nonprofit institutions in the forms specified.
2 Includes shares in savings and loan associations and shares and deposits in credit unions.3 "Other government" includes U.S. Government issues (except savings bonds), State and local govern-
ment securities, and beginning 1951, nonguaranteed Federal agency issues, which are included in "corporateand other" for years prior to 1951.
* Includes insured pension reserves.• Includes Social Security funds, State and local retirement systems, etc.8 Mortgage debt to institutions on one- to four-family nonfarm dwellings.7 Consumer debt owed to corporations, largely attributable to purchases of automobiles and other dura-
ble consumer goods, although including some debt arising from purchases of consumption goods. Policyloans on Government and private life insurance have been deducted from those items of saving.
8 Change in bank loans to brokers, dealers, and others for the purpose of purchasing or carrying securities.• Less than $50 million.10 Preliminary estimates.
NOTE.—In addition to the concept of saving shown above, there are other concepts of individuals' saving,with varying degrees of coverage, currently in use. The personal saving estimates of the Department ofCommerce are derived as the difference between personal income (after taxes) and personal outlays. Acomparison of the two series is being prepared.
The flow-of-funds system of accounts of the Board of Governors of the Federal Reserve System includesestimates of gross saving and net financial investment of households.
Data for Alaska and Hawaii included for all periods.
Source: Securities and Exchange Commission.
2 2 9
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-18.—Sources and uses of gross saving, 1929-65
[Billions of dollars]
Year or quarter
1929_.
1930..1931..1932..1933..1934..1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951-.1952._1953..1964..1955..1956..1957.-1958--1959-.
I960..1961..1962-.1963-.1964._1965 3.
1963: I—-II...III.IV..
1964: I—.II._.III.IV..
1965: I....II...III..IV 3
Gross private saving and government surplus ordeficit on income and product transactions
Total
16.3
11.85.1
3.26.67.2
11.97.0
13.618.610.75.52.55.2
35.142.050.035.9
50.456.249.547.548.464,872.771.359.273.8
77.675.585.090.799.3
Private saving
Total
15.3
12.18.02.52.35.68.6
10.311.58.7
11.0
14.322.442.049.754.344.729.727.641.439.1
42.550.453.354.455.462.167.870.571.775.9
73.979.887.989.5
101.7* 107.9
Per-sonal
saving
4.2
3.42.6
- . 6- . 9
.42.13.63.8.7
2.6
3.811.027.633.437.329.615.27.3
13.49.4
13.117.318.218.316.415.820.820.822.319.1
17.021.221.620.426.325.1
Grossbusi-ness
saving
11.2
5.33.23.25.26.46.77.78.08.4
10.511.414.516.317.115.114.520.328.129.7
29.433.135.136.139.046.347.349.849.456.8
56.858.766.369.175.4
4 82.8
Government surplusor deficit (-)
Total
1.0
- . 3- 2 . 9-1 .8-1 .4-2 .4-2 .0- 3 . 1
.3-1 .8-2 .2
- . 7-3 .8-31.4-44.1-51.8-39. 5
5.414.48.5
-3 .2
7.85.8
-3 .8-6 .9-7 .0
2.74.9.7
-12.5- 2 . 1
3.7- 4 . 3- 2 . 9
1.2-2 .442.3
Fed-eral
1.2
.3- 2 . 1- 1 . 5- 1 . 3-2 .9-2 .6-3 .6- . 4
- 2 . 1-2 .2
- 1 . 3- 5 . 1-33.1-46.6-54.5-42.1
3.513.48.4
-2 .4
9.16.2
-3 .8-7 .0- 5 . 9
4.05.72.1
-io!2-1 .2
3.5-3 .8-3 .8
.3-3 .8
Stateandlocal
- 0 . 2
- . 3- . 1
.5
.6
.5
.7
.4
1.31.82.52.72.61.91.0.1
- . 7
-1 .2- . 4
- 1 . 3
- L 4- 2 . 3
. 2- . 5
1.44 1.7
Gross investment
Total
17.0
11.05.81.11.63.86.48.4
11.87.6
10.2
14.619.09.63.55.09.2
35.242.947.936.2
51.959.551.750.551.366.971.671.360.873.0
76.674.885.590.098.7
109.3
Grossprivatedomes-tic in-vest-ment
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.860.975.3
74.871.783.086.992.9
104.9
Netforeigninvest-ment i
0.8
.7
.2
.2
.2
.4- . 1- . 1
.11.1
1.51.1
- . 2-2 .2- 2 . 1-1 .4
4.68.91.9.5
-2 .2.2
- . 3- 2 . 1- . 4- . 51.63.4
- . 1- 2 . 3
1.73.12.53.25.84.4
Seasonally adjusted annual rates
Statis-ticaldis-crep-ancy
84.389.991.797.2
95.996.099.4
106.1
110.0109.3109.3
(5)
85.887.390.094.8
97.5102.4101.5105.3
105.3104.4110.0
(5)
18.518.919.824.4
23.327.325.029.5
23.322.426.828.0
67.368.470.370.4
74.275.276.575.8
82.082.083.2(5)
-1 .62.61.72.4
-1 .6-6 .4- 2 . 1
. 8
4.74.9
- . 7(5)
- 2 . 51.8.6
1.2
-2 .6-7 .6-3 .6- 1 . 1
3.63.8
- 2 . 90)
0.9.9
1.01.3
1.01.21.51.9
1.11.12.2(5)
84.588.390.896.9
95.995.798.7
103.9
106.8107.8110.9112.1
82.684.887.992.4
89.790.992.697.7
103.4102.8106.2107.5
1.83.52.94.5
6.14.86.16.2
3.45.04.74.6
0.7
.7
.5- . 21.2
(2).6
1.3
1.0.4
- 1 . 1- 2 . 0
2.54.0.1.9
- 2 . 0.3
1.53.32.23.02.92.1
- 1 . 1(2)
1.6
- 1 . 0- . 7
.5- . 7- . 5
4 - . 8
0.2-1 .6-1 .0
( )- . 3- . 7
-2.2
- 3 . 1-1 .4
1.4
1 Net exports of goods and services less net transfers to foreigners.2 Less than $50 million.3 Preliminary estimates.4 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not
available. All other data incorporating or derived from these figures are correspondingly approximate.s Not available.
NOTE.—Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
23O
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POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY
TABLE C-19.—Population by age groups: Estimates, 1929-65, and projections, 1970-85
[Thousands of persons]
July 1
Estimates:1929
19301931193219331934
19351936193719381939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965
Projections:»1970: Series A.
Series D_.
1975: Series A..Series D_.
1980: Series A.Series D .
1985: Series A.Series D .
Total
121,767
123,077124, 040124,840125, 579126,374
127, 250128, 053128,825129, 825130,880
132,122133,402134, 860136, 739138, 397
139, 928141,389144,126146, 631149,188
152, 271154, 878157, 553160,184163, 026
165, 931168, 903171,984174,882177, 830
180, 684183, 756186, 656189, 417192,119
194, 583
211, 430205,886
230, 415218,855
252, 056233,140
275, 622247,953
Age (years)
Under 5
11,734
11,37211,17910,90310, 61210,331
10,17010,04410,00910,17610,418
10, 57910,85011,30112,01612, 524
12, 97913, 24414,40614, 91915, 607
16,41017, 33317,31217. 63818, 057
18, 56619, 00319,49419,88720,175
20, 36420. 65720, 74620, 75020, 691
20, 434
23, 99119, 444
27,31221, 276
30, 55723,164
33,04824,235
5 to 13
22,131
22. 26622; 26322, 23822,12921,964
21, 73021, 43421,08220, 66820, 253
19, 93619,67419,42719,31919, 246
19,32619, 62520,11820,99021,634
22, 42422, 99824, 50125, 70126, 887
27, 92528, 92929, 67230, 65131, 767
32,98533, 29633.94334,60635, 298
35,888
37,74836, 751
41, 05735,533
46, 82636, 984
52, 71940,447
14 to 19
13,796
13,93713, 98014, 01514, 07014,163
14, 29614,44214, 55814,68014, 748
14, 77014,68214, 53414,38114, 264
13, 94213, 59713,44713,17113, 006
12,83912, 72712.80712, 98613, 230
13, 50113, 98114,79515, 33715,816
16, 21717, 56618, 48319, 07519, 813
20,639
} 22,940
} 24,801
25,93024, 247
29,30123,704
20 to 24
10,694
10,91511.00311, 07711,15211,238
11,31711,37511,41111, 45311, 519
11,69011,80711, 95512,06412, 062
12, 03612.00411,81411, 79411, 700
11, 68011, 55211, 35011,06210,832
10, 71410, 61610,60310, 75610,969
11,11611,40811, 88912, 62013,152
13, 667
17,104
19, 057
} 20,624
21, 47220,485
25 to 44
35,862
36,30936, 65436,98837,31937,662
37, 98738,288
38,95439, 354
39,86840,38340,86141,42042, 016
42, 52143, 02743, 65744,28844,916
45, 67346,10346,49446, 78647, 002
47,19547,38047,44147, 3364T, 192
47,13447, 06146,96946, 93346,874
46, 789
48, 216
53, 597
61, 784
} 71,094
45 to 64
21,076
21, 57322,03122, 47322, 93323,435
23, 94724, 44424, 91725, 38725,823
26, 24926, 71827,19627, 67128,138
28,63029, 06429, 49829,93130, 405
30, 84931, 36231,88432, 39332, 941
33, 50734, 05834,59135,10935,663
36,20836, 75637, 31637, 86838,434
39, 011
41,860
43, 419
43, 250
42,984
65 andover
6,474
6,705
7,1477,3637,582
7,8048,0278,2588,5088,764
9,0319,2889,5849,86710,147
10,49410,82811,18511, 53811, 921
12,39712, 80313, 20313, 61714, 076
14, 52714, 93715,38715,80516, 248
16, 65917, 01317, 31117, 56517,856
18,156
19, 571
21,172
23, 086
25,007
1 Two of four series projected by the cohort method and based on different assumptions with regard tocompleted fertility, which moves gradually toward a level of 3,350 children per 1,000 women for Series Aand 2,450 children per 1,000 women for Series D. For further explanation of method of projection and foradditional data, see Population Estimates, Current Population Reports, Series P-25, No. 286, July 196£.
NOTE.—Data for armed forces overseas included beginning 1940 and Alaska and Hawaii beginning 1950.
Source: Department of Commerce, Bureau of the Census.
231
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TABLE C-20.—Noninstitutional population and the labor force, 1929-65
Year or month
Nonin-stitu-tionalpopu-
lation i
Totallaborforce
(includ-ing
armedforces)1
Armedforces1
Civilian labor force
Total
Employment2
TotalAgri-cul-
tural
Non-agri-cul-
tural
Unem-ploy-ment2
Totallabor
force aspercentof non-institu-tional
Lation
Unem-ploy-ment
as per-cent of
civilianlaborforce
Thousands of persons 14 years of age and over
Old definitions 2
1929..
19301931193219331934.
1935_1936 ,1937 __.1938 .1939.
19401941...1942..19431944
194519461947
New definitions 2
194719481949
19501951.195219531954
19551956195719581959
I960.—Including Alaska and
Hawaii1960.19611962 *1962196319641965
1964: JanFeb .Mar...AprMay .June
JulyAugSeptOctNovDec
100,380101, 520102,610103,660104,630
105, 530106, 520107,608
107,608108,632109,773
110,929112,075113,270115, 094116,219
117,388118, 734120,445121,950123,366
124,878
125,368127,852130,117130,081132,124134,143136,241
133,200133,358133, 519133,678133,866134,041
134,216134, 400134, 586134,772134,952135,135
49,440
50,08050,68051,25051,84052,490
53,14053,74054,32054,95055,600
56,18057, 53060,38064,56066,040
65,30060,97061,758
61,75862,89863,721
64,74965,98366,56067,36267,818
68,89670,38770, 74471,28471,946
72,820
73,12674,17574,83974,68175, 71276,97178,357
74, 51475,25975,55376,54477,49079,389
78,95878,50976,86577,11276,89776, 567
260
260260250250260
270300320340370
5401,6203,9709,02011,410
11,4403,4501,590
1,5901,4561,616
1,6503,0993,5943,5473,350
3,0482,8572,7982,6372,552
2,514
2,5142,5722,8282,8272,7372,7382S722
2,7212,7322,7432,7452,7482,744
2,7402,7512,7432,7372,7312,726
49,180
49,82050,42051,00051,59052,230
52,87053,44054,00054,61055,230
55,64055,91056,41055, 54054,630
53,86057, 52060,168
60,16861, 44262,105
63,09962,88462,96663,81564,468
65,84867, 53067,94668,64769,394
70,306
70,61271,60372, Oil71,85472,97574,23375,635
71, 79372, 52772,81073,79974,74276,645
76,21875,75874,12274,37574,16673,841
47, 630
45,48042,40038,94038, 76040,890
42,26044,41046,30044, 22045, 750
47, 52050,35053,75054,47053,960
52,82055,25058,027
57,81259,11758,423
59, 748.60,78461,03561,94560,890
62,94464,70865, Oil63,96665,581
66,392
66,68166,79667,99967,84668,80970,35772,179
67,22868,00268,51769,87771,10171,953
72,40572,10470,80571.12370, 79370,375
10,450
10,34010,29010,17010,0909,900
10,11010,0009,8209,6909,610
9,5409,1009,2509,0808,950
8,5808,3208,266
8,2567,9608,017
7,4977,0486,7926,5556,495
6,7186,5726,2225,8445,836
5,696
5,7235,4635,2555,1904,9464,7614,585
3,9933,9314,0174,4295,0075,853
5,8195,4005,2305,1264,5453,785
37,180
35,14032,11028, 77028,67030,990
32,15034,41036, 48034, 53036,140
37,98041,25044,50045,39045,010
44,24046,93049,761
49,55751,15650,406
52,25153,73654,24355,39054,395
56,22558,13558,78958,12259,745
60,697
60,95861,33362, 74462, 65763,86365, 59667,594
63,23464, 07164,50065,44866,09466,100
66,58666,70465,57565,99766,24866, 590
1,550
4,3408,02012,06012,83011, 340
10,6109,0307,70010,3909,480
8,1205,5602,6601,070670
1,0402,2702,142
2,3562,3253,682
3,3512,0991,9321,8703,578
2,9042,8222,9364,6813,813
3,913
3,9314,8064,0124,0074,1663,8763,456
4,5654,5244,2933,9213,6404,692
3,8133,6543,3173,2523,3733,466
Percent
56.05G.758.862.363.1
61.957.257.4
57.457.958.0
58.458.958.858.558.4
58.759.358.758.558.3
58.3
58.358.057.557.457.357.457.5
55.956.456.657.357.959.2
58.858.457.157.257.056.7
3.2
8.715.923.624.921.7
20.116.914.319.017.2
14.69.94.71.91.2
1.93.93.6
3.93.85.9
5.33.33.12.95.6
4.44.24.36.85.5
5.6
5.66.75.65.65.75.24.6
6.46.25.95.34.96.1
5.04.84.54.44.54.7
See footnotes at end of table.
232
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TABLE C-20.—Noninstitutional population and the labor force, 1929-65—Continued
Year or month
1965: Jan..Feb.Mar.Apr..May.June.
July.Aug-Sept.Oct..Nov.Dec.
1964: Jan . .Feb . .Mar..Apr . .May..June..
July..Aug..Sept..Oct._.Nov_.D e c .
1965: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Nonin-stitu-tionalpopu-
lation i
Totallaborforce
(includ-ing
armedforces)'
Armedforces1
Civilian labor force
Total
Employment2
TotalAgri-cul-
tural
Non-agri-cul-tural
Unem-ploy-ment2
Thousands of persons 14 years of age and over
135,302135,469135, 651135, 812135, 982136,160
136, 252136, 473136, 670136, 862137,043137,226
75. 69976, 41876, 61277, 30778, 42580,683
81,15080,16378,04478, 71378, 59878, 477
2,7072,7042,7032,6862,6842,680
2,6932,6932,7232, 7602,7952,841
72, 99273, 71473,90974, 62175, 74178,003
78,45777, 47075,32175,95375,80375,636
68,99669,49670,16971, 07072,40773, 716
74,85474,21272,44673,19672,83772, 749
3,7393,8033.9894,4735,1285,622
5,6265,1364,7784,9544,1283,645
65, 25765, 69466,18066, 59767, 27868,094
69, 22869, 07767,66868,24268,70969,103
3,9964,2183,7403,5523,3354,287
3,6023,2582,8752,7572,9662,888
Totallabor
force aspercentof non-
institu-tionalpopu-lation
Unem-ploy-ment
as per-cent of
civilianlaborforce
Percent
55.956.456.556.957.759.3
59.658.757.157.557.457.2
5.55.75.14.84.45.5
4.64.23.83.63.93.8
Seasonally adjusted«
76,35576, 58576,61777, 23677,14677,001
76,85977,03377,09577,05377,20577, 473
77,59077, 76777, 72377,98877, 99078,331
78, 74778,46578, 33478,60678, 90779,408
73,63473,85373,87474,49174,39874,257
74,11974,28274,35274,31674,47474, 747
74,88375,06375,02075,30275,30675, 651
76,05475, 77275, 61175, 84676,11276, 567
69,538
69,86470,50070,56670,283
70,42070.48270, 52870,45070,83271,037
71,25271,32671.48371, 68871,81672, 085
72, 61872,38772, 29772, 56172,91473,441
4,9204,8024,6564,7354,792
4,!4,8004,8314,7204,6994,611
4,5334,1""4,5884,7694,8694,651
4,6394,5724,4184,5514,2734,486
64,61865,08465,20865, 76565, 77465,474
65,58165,68265,69765,73066,13366,426
66, 71966, 71866,89566, 91966,94767, 434
67, 97967,81567, 87968,01068,64168,955
4,0963,9674,0103,9913,8323,974
3,6993,8003,8243,8663,6423,710
3,6313,7373,5373,6143,4903,566
3,4363,3853,3143,2853,1983,126
5.65.45.45.45.25.4
5.05.15.15.2]4.9 I5.0J
4.85.04.74.84.64.7
4.54.54.4
1 Data for 1940-52 revised to include about 150,000 members of the armed forces who were outside theUnited States in 1940 and who were, therefore, not enumerated in the 1940 Census and were excluded fromthe 1940-52 estimates.
2 See Note.3 Not available.4 Averages adjusted by Council of Economic Advisers for comparison with previous data. See Note.5 Based on revised seasonal factors; see footnote 4, Table C-21.
NOTE.—Civilian labor force data beginning with January 1963 are based on a 357-area sample. ForJanuary 1960-December 1962 on a 333-area sample; for May 1956-December 1959 on a 330-area sample; forJanuary 1954-April 1956 on a 230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smaller sample;and for 1929-39 on sources other than direct enumeration.
Effective January 1957, persons on layoff with definite instructions to return to work within 30 days oflayoff and persons waiting to start new wage and salary jobs within the following 30 days are classifiedas unemployed. Such persons had previously been classified as employed (with a job but not at work).The combined total of the groups changing classification has averaged about 200,000 to 300,000 a month inrecent years. The small number of persons in school during the survey week and waiting to start newjobs are classified as not in the labor force instead of employed, as formerly. Persons waiting to open newbusinesses or start new farms within 30 days continue to be classified as employed.
Beginning July 1955, monthly data are for the calendar week ending nearest the 15th of the month; previ-ously, for week containing the 8th. Annual data are averages of monthly figures.
Beginning April 1962, estimating procedures make use of 1960 Census data; January 1953-March 1962,1950 Census data were used, and 1940-52, 1940 Census data. For the effects of this change on thehistorical comparability of the data, see Employment and Earnings, May 1962, p. xiv.
Source: Department of Labor, Bureau of Labor Statistics (except as noted).
233
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TABLE C—21.—Civilian employment and unemployment, by sex and age, 7947-65
[Thousands of persons 14 years of age and over]
Year or month
Employment
otal
Males
TotalL4-19rears
20yearsandover
Total
Females
.4-1920
yearsandover
Total
Unemployment
Total
Males
14-1920
yearsand Total
Females
2014-19 years
andoveryears
New definitionsl
1947.1948 _1949.
57,81259,11758,423
41,55242,268U, 473
2,776 38,7762,887 39,3812,672 38,803
.6,259
.6,848
.6,947
1,905 14,3541,913 14,9351,812 15,137
19501951195219531954
59,748 42,16260,784 42,36261,035 '61,94560,890
2,769 39,395 17,584 1,761
42,23742,96642,165
2,738 39,626 18,2,659 39, 5782,671 40,295
39,634
1,85115,82416,570,421
18,79818,97918,724 I', 724 17,000
1,840 16,958:, 813 17,164
1955.1956.1957.1958.1959.
62,944 43,15264,708 43,99965,01143,990
2,626 40,527 19,790 1,7882,783 41,2162,750
1,940
63,966 43,042144,089 2,82141
1960 2.1961..1962 3_1963..1964..1965...
65,58!
66,68144,485 2,94141,54:66,796 44,318 2,976 41,34:
20,70741', 239 21,021" '") 20,924 i; 881
21,492 ""63140,410
,268
18,002, 18,767
1,970 19,05019,043
1,968 19,523
2,091
67,84668,809
44,89245,330 .46,139 3,253 42,886
22,19622,478 2,181 20,5
70,35772,179 47,034
20,10420,295
3; 077 4i; 815 22', 954 2,262 20,693" 079 42,252 23,479 2,223 21,257
3 24,218 2,316 21,903515 22,63:
3,3,3,612 43,422 25,145
2,3562,3253,682
3,3512,0991,9321,8703,578
2,9042,8222,9364,6813,813
3,9314,8064,0074,1663,8763,456
1,7201,5902,602
2,2801,2501,2171,2282,372
1,8891,7571,8933,1552,473
2,5413,0602,4882,5372,2711,8""
298286382
220237209338
308315351473451
542472566553545
1,4221,3042,219
1,9221,029980
1,0192,035
1,5801,4421,5412,6802,022
2,0582,5182,0161,9711,7181,436
637735
1,083
1,073851715642
1,207
1,0161,0671,0431,5261,340
V1,7471,5191,6291,6051,476
162170241
220162157133210
194236222284276
310379344413409420
475565841
854689559510997
823832820
1,2421,064
1,0781,3661,1761,2161,1951,057
Seasonally adjusted 4
1964: Jan___.Feb_._M a r . . .AprMayJune__.
JulyAugSeptOctNovDec
1965: JanFebMarAprMayJune
JulyAugSeptOctNovDec
538 45,686 3,140 42,546 23,852— " 850 3,177 42,673 24,036
873 3,220 42,653 23,99170; 500 46; 135 3,217 42,918 24,365 2, 294 22| 071
21,53069', 886 45; 850 3', 177 42', 673 24; 036 2,360 21,676330 21,661864 45,873 3,220 42,653 23,991
500 46,135 3,217 42,918 24,365566 46,277 3,315 42,962 24,289
70; 283 46,004 3, 253 42, 751 24,27970, 566 46,277 3,315 42,962 24,289 2,276 22,013329 21,950
70,420 46,30170; 482 46,202 3,19770, 528 46 218 3 28570
3,300 43,001 24,119 2,290 21,829__. 2 307 21,973,938
70; 450 46; 168 3', 280 42', 888 24', 282 2,307 21,97570,832 46,373 3,273 43,100 24,459 2,422 22,, 037
-~ — ~ *"" 43,170 24,566 2,307 22,25971, 037 46,4713,301
72,387 47,130 3,677 43,453 25,257
71,252 46,585 3,274 43,311 24,66771,326 46,714 3,334 "71,483 46,823 3,400 43; 423 24; 660 2,324 22,33671,688 46,968 3, 529 43,439 24, 720 2,360 22,36071,816 47,054 3,551 43,503 24,762 2,412 22,35072,085 46,962 3,484 43,478 25,123 2,409 22. 714
72,618 47,228 3, 736 43,492 25,390 2, 567 22,823
72, 297 46,917 3,632 43,285 25,380 2,609 22, 77172, 561 47, 051 3,817 43,234 25, 510 2,720 22,79072,914 47,185 3,855 43,330 25,729 2, 792 22,93773,441 47, 500 3,921 43,579 25,941 2, 784 23,157
2,3212,
43,380 24,612 2,300 22,312
2,531
2,280 22,387
22, 726
4,0963,9674,0103,9913,8323,974
3,6993,8003,8243,8663,6423,710
3,6313,7373,5373,6143,4903,566
3,4363,3853,3143,2853,1983,126
2,4252,3122,3572,3222,2082,353
2,1842,2482,2672,2752,1062,115
2,1062,0992,0122,0702,0632,009
2,0131,9521,8891,8991,7371,729
551528586600565565
501589555497551543
528504497539570554
540528594502557
1,8741,7841,7711,7221,6431,788
1,6831,6591,7121,7781,5551,572
1,5781,5951,5151,5311,4931,455
1,4231,4121,3611.305i;2351,172
1,6711,6551,653
1^6241,621
1,5151,5521,5571,5911,5361,595
1,5251,6381,5251,5441,4271,557
1,4231,4331,4251,3861,4611,397
403386379414431429
361410397441382483
466454442475401406
385380422397430
1,2681,2691,2741,2551,1931,192
1,1541,1421,1601,1501,1541,112
1,0591,1841,0831,0691,0261,151
1,0381,0531,003
9891,031
964
1 See Note, Table C-20, for explanation of differences between the old and new definitions.2 Beginning 1960, data for Alaska and Hawaii included.3 Beginning April 1962, not comparable with prior data; see Note, Table C-20.* Based on revised seasonal factors incorporating data through December 1965. See Employment and
Earnings and Monthly Report on the Labor Force, February 1966.
Note.—See Note, Table C-20, for information on area sample used and reporting periods.
Source: Department of Labor, Bureau of Labor Statistics.
234
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TABLE C-22.—Selected unemployment rates, 1948-65
[Percent]
Year or monthAll
work-ers
By sex and age
Bothsexes,14-19years
Men,20
yearsandover
Wom-en, 20yearsandover
By race
White Non-white
Expe-riencedwageand
salaryworkers
By selected groups
Mar-ried
men »
Full-timework-ers 2
Blue-collarwork-ers 3
Laborforce
time lostthroughunem-ploy-ment
and part-time
employ-ment *
New definitions
19481949
19501951195219531954
19551956195719581959
1960 519611962 «19631964
1965
1964: Jan._.Feb . .Mar_.Apr_.May..June..
July..Aug..Sept..Oct...Nov..D e c
1965: Jan...Feb. .Mar..Apr_.May..June-July..Aug..Sept.Oct_-Nov_.D e c .
3.85.9
5.33.33.12.95.6
4.44.24.36.85.5
5.66.75.65.75.2
4.6
12.2
11.37.78.07.1
11.4
10.210.410.814.413.2
13.615.213.315.614.7
13.6
5.4
4.72.52.42.54.9
3.83.43.66.24.7
4.75.74.64.53.9
3.2
5.3
5.14.03.22.95.5
4.44.24.16.15.2
5.16.35.45.45.2
4.5
5.0
3.73.96.14.9
5.06.04.95.14.6
4.1
9.8
8.78.48.0
12.610.7
10.212.511.010.99.8
8.3
4.26.7
6.03.73.33.26.0
4.84.44.57.25.6
5.76.85.55.55.0
4.2
3.4
4.61.51.41.74.0
2.82.62.85.13.6
3.74.63.63.42.8
2.4
5.4
5.02.62.5
5.2
3.83.74.07.2
6.7
5.54.9
4.3
4.28.0
7.23.93.63.47.2
5.85.16.2
10.17.6
7.89.27.47.36.3
5.3
5.15.38,16.6
6.78.06.7
•6.45.8
5.0
Seasonally adjusted7
5.65.45.45.45.25.4
5.05.15.15.24.95.0
4.85.04.74.84.64.7
4.54.54.44.34.24.1
14.914.214.815.515.115.1
13.415.414.414.414.115.5
15.214.514.114.714.014.0
13.412.913.213.212.312.9
4.24.04.03.93.74.0
3.83.73.84.03.53.5
3.53.53.43.43.33.2
3.23.13.02.92.82.6
5.65.55.65.45.15.2
5.04.95.05.05.04.8
4.55.04.64.64.44.8
4.44.44.24.24.34.0
4.94.94.94.84.64.8
4.34.54.64.64.34.5
4.34.54.24.44.24.3
4.04.13.93.93.73.7
10.39.59.69.89.99.9
10.39.99.79.79.29.0
9.09.28.68.27.88.3
8.97.78.17.98.17.5
5.35.25.25.14.95.2
4.94.84.94.94.74.5
4.54.64.34.54.34.6
4.24.24.03.94.03.6
3.12.92.92.82.62.8
2.72.62.83.02.42.6
2.72.62.52.52.52.4
2.32.62.22.12.01.8
25.35.25.25.15.05.1
4.74.94.84.74.54.4
4.54.74.44.54.44.6
4.44.24.13.83.73.5
7.06.76.66.46.06.3
6.26.26.36.35.95.7
5.65.65.35.75.45.6
5.55.05.14.84.64.4
6.26.05.95.95.86.0
5.75.75.75.75.25.4
5.35.45.25.35.25.3
5.25.14.74.64.54.4
1 Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March.Data prior to 1955 have not been adjusted to reflect the change in the definition of employment and unem-ployment adopted in January 1957. See Note, Table C-20.
2 Data for 1949-61 are for May. Seasonally adjusted data not yet available on revised basis.3 Includes craftsmen, operatives, and nonfarm laborers. Data for 1948-57 are based on months, January,
April, July, and October.4 Beginning in 1963, this series not strictly comparable with preceding data. Under the current con-
cept, the percent of labor force time lost assumes that unemployed persons looking for full-time work lost37.5 hours, unemployed persons looking for part-time work lost the average hours worked by voluntarypart-time employees, and those on part-time for economic reasons lost difference between 37.5 hours andactual number of hours worked.
8 Beginning 1960, data for Alaska and Hawaii included.• Not comparable with prior data. See Note, Table C-20.7 See footnote 3, Table C-23.
Source: Department of Labor, Bureau of Labor Statistics.
235
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-23.—Unemployment by duration, 1947-65
Year or month
New definitions194719481949
19501951195219531954
19551956195719581959 —
1960 119611962 2196319641965
1964: Jan . .Feb.Mar.Apr.MayJune
July.Aug.Sept.Oct..Nov.Dec.
1965: J an . .F e b .Mar.Apr .May.June.
July.Aug.Sept.Oct..Nov.Dec.
Total un-employ-
ment
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
3,9314,8064,0074,1663,8763,456
4,0963,9674,0103,9913,8323,974
3,8003,8243,8663,6423,710
3,6313,7373,5373,6143,4903,566
3,4363,3853,3143,2853,1983,126
1,2551,3491,804
1,5151,2231,1831,1781,651
1,3871,4851,4851,8331,658
1,7981,8971,7541,8471,7871,718
704669
1,195
1,055574517482
1,115
815805890
1,3971,113
1,1761,3751,1341,2311,116
234193427
425166148132495
367301321785
502728534535491404
Seasonally adjusted3
1,8691,7681,8541,8761,8281,844
1,5861,8161,8061,8011,6561,732
1,6951,7761,7411,8181,8291,788
1,7911, 7221,7031,5621,6181,532
1,1191,1731,1031,1971,0951,110
1,130, 118,0951,104, 059,062
,044,030,003,029,046,015
858992
568502534474459535
466431482479483437
417476436440373415
354403399352334354
164116256
3571378479
317
336232239667571
454804585553482351
518489510476494502
526487436445438445
407411364373341364
332314329345310306
1 Beginning January 1960, data for Alaska and Hawaii included.2 Beginning April 1962, not comparable with prior data; see Note, Table C-20.8 Based on seasonal factors incorporating data through December 1965. Series based on revised factors
incorporating data through December 1965 will appear in Employment and Earnings and Monthly Reporton the Labor Force, February 1966.
NOTE.—See Note, Table C-20, for information on area sample used and reporting periods.
Source: Department of Labor, Bureau of Labor Statistics.
236
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TABLE C-24.—Unemployment insurance programs, selected data, 7940-65
Year or month
All programs
Cov-eredem-
ploy-ment 1
Insuredunem-ploy-ment
(weeklyaver-
Totalbenefits
paid(mil-lions
of dol-lars) 2 4
Insuredunem-ploy-
ment 3
State programs
Initialclaims
Ex-haus-tions 5
Insured unem-ployment as per-cent of covered
employment
Unad-justed
Season-ally ad-justed
Benefits paid
Total(mil-
lions ofdollars)
(4)
Aver-age
weeklycheck(dol-lars) 6
1940-194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962—1963196419658
1964: Jan...Feb..Mar-Apr..May_June..
July-Aug_.Sept..Oct...Nov..Dec.
1965: Jan...Feb_.Mar_.
May".]June..
July..Aug..Sept..Oct..Nov..Dec 8.
Thousands Weekly average,thousands Percent
24,29128,13630,81932, 41931, 71430,08731,85633,87634,64633,098
34,30836, 33437, 00638, 07236, 62240, 01842, 63343, 43644, 41245,728
46, 33446, 26447, 77648,43449,637
47, 68847, 76448,16848,86249, 41250,161
50, 34750, 67550, 76750, 41250, 485
9 50,897
1,331842661149111720
2,8041,8051,4682,479
1,6051.0001,0691,0652,0481,3951,3181,5673,2692,099
2,0672,9941,946
71,9731,7531,450
2,5632,4102,2011,9181,6051,448
1,4911,3961,2561,2641,4171,801
2,1352,0661,8631,6221,3161,182
1,2551,2181,0681,0131,1231,394
534.7358.8350.480.567.2
574.92,878. 51,785.01, 328. 72, 269.8
1, 467. 6862.9
1, 043. 51, 050. 62, 291.81, 560. 21, 540. 61,913.04, 209. 22,803. 0
3, 022. 74, 358. 23,160. 03, 025.92, 749. 22,260.0
345.6307.9315.6281.0218.3199.3
195.6180.2163.7157.8162.0230.4
273.0265.8294.9242.7179.2169.3
160.6160.7150.3128.2143.0188.0
1,282814649147105589
1,2951,0091,0021,9791,503969
1,024995
1,8651,2541,2121,4502,5091,6821,9062,2901,783'1,8061,6051,328
2,3952,2432,0501,7551,4471,297
1,3431,2611,1251,1381,2931,6751,9961,9321,7181,4701,1791,0591,1321,102959916
1,0331,307
2141641223629116189187210322
2362082152183032262262683702813313503027 298268232412291259246218218
282212194225276348355269222220186191252215173189225290
5.63.02.2.5.4
2.14.33.13.06.2
4.62.82.92.85.23.53.23.66.44.4
4.85.64.44.33.83.0
5.75.34.94.23.43.13.12.92.52.63.03.94.64.54.03.42.72.42.62.52.22.02.33.0
4.13.93.93.93.83.7
3.73.63.53.53.43.6
3.43.33.23.23.03.0
3.03.12.92.72.72.7
518.7344.3344.179.662.4
445.91, 094. 9
775.1789.9
1, 736. 0
1, 373.1840.4998.2962.2026.9
1, 350. 31, 380. 71,733.93, 512. 72, 279. 0
2, 726. 73, 422. 72, 675. 42, 774. 72, 522.12,070.0
319.3283.8292.6258.0201.5183.1
180.5164.5148.4143 2147.0211.4
252.1245.7273.4224.9165.7156.3
149.5148.0138.6117.8132.2175.0
10.5611.0612.6613.8415.9018.7718.5017.8319.0320.48
20.7621.0922.7923.5824.9325.0427.0228.1730.5830.41
32.8733.8034.5635.2835.9637.00
36.0736.2436.2636.0235.5035.27
35.3535.6035.4235.9236.3836.81
37.1837.3937. 4137.1636.4036.07
36.4036.5837.2337.3238.0838.10
1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Rail-road Retirement Board) programs. Beginning October 1958, also includes the UCX program (unemploy-ment compensation for ex-servicemen).
2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), and SRA (Servicemen's Readjustment Act, September 1944-September 1951) programs.Also includes Federal and State programs for temporary extension of benefits from June 1958 throughJune 1962, expiration date of program.
3 Covered workers who have completed at least 1 week of unemployment.4 Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual
data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment be-
ginning July 1963.s Preliminary.» December 1964 is latest month for which data are available for all programs combined. Workers
covered by State programs account for about 87 percent of the total.
NOTE.—Data for Alaska and Hawaii included for all periods and for Puerto Rico since January 1961.
Source: Department of Labor, Bureau of Employment Security.
795-983 O—66- -16237
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-25.—Number of wage and salary workers in nonagricultural establishments, 1929-65x
[Thousands of employees]
Year ormonth
1929 __
1930_ _1931 _.1932..1933..1934_.
1935..1936..1937..1938..
1940.1941.1942.1943.1944.
1945._1946..1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
196019611962196319641965 3
1963: JanFeb___.M a r . - .Apr_--_May_—June.._
July . . . .AugS e p t . . .Oct_.-_NovDec
Totalwageand
salarywork-
ers
31,339
29,42426,64923, 62823, 71125,953
27,05329,08231,02629,20930,618
32,37636,55440,12542,45241,883
40,39441.67443,88144, 8911,778
45,22247,84948,82550,23249,022
50.67552,40852,89451,36853,297
54,20353, 98955,51556, 60258,15660,432
Manufacturing
Total
10,702
9,5628,1706,9317,3978,501
9,0699,82710,7949,44010,278
10,98513,19215,28017,60217,328
15, 52414, 70315, 54515, 58214,441
15,24116,39316,63217,54916,31
16,88217,24317,17415,94516,67,"
16,79616, 32616,85316, 99£17, 25<17,98-
Dura-ble
goods
(2)
8(2)4,711
5,3636,9688,82311,08410,856
9,0747,7428,3858,3267,489
8,0949,0899,34910,1109,129
9,54:9,8349; 8568,8309,373
9,45?9,07(9,489,6169,813
10,37S
Non-dura-
blegoods
5,564
5,6226,2256,4586,5186,472
6,4506,9627,1597,2566,953
7,1477,3047,2847,4387,185
7,3407,4097,3197,1167,303
7,3367,2567,3737,38C7,4467,604
Min-ing
1,087
1,009873731744
897946
1,015891854
92595799292;892
836862955
901929898866791
792822828751732
712672650635633628
Con-tractcon-
struc-tion
Trans-porta-tionandpub-
licutili-ties
1,497
1,3721,214
970809862
9121,1451,1121,0551,150
1,2941,7902,1701,5671,094
1,1321,6611,9822,1692,165
2,3332,6032,6342,6232,612
2,8022,9992,9232,7782,960
2,8852,8162,902
3,0563,211
3,916
3,6853,2542,8162,6722,750
2,7862,9733,1342,8632, ' ""
3,0383,2743,4603,6473,829
3,9064,0614,1664,1894,001
4,0344,2264,2484,2904,084
4,1414,2444,2413,9764,011
4,0043,9033,9063,9033.94"4,031
Whole-sale Iand
retailtrade !
Fi-nance,insur-ance,andreal
estate
6,123
5,7975,2844,6834,7555,281
5,4315,8096,2656,1796,426
6,7507,2107,1186,9827,058
7,3148,3768,9559,2729,264
9,3869,74210,00410,24710,235
10,53510,85810,88610,75011,127
11,39111,33711, 56611, 77812,13212,585
1,509
1,4751,4071,3411,2951,319
1,3351,3881,4321,4251,462
1,5021,5491,5381,5021,476
1,4971,6971,7541,8291,85^
1,9191,9912,0692,1462,23'
2,3352,4292,4772,5192,594
2,6692,7312,8002,8772,96'3,043
Serv-iceandmis-cel-
lane-ous
3,440
3,3763,1832,9312,8733,058
3,1423,3263,5183,4733,517
3,6813,9214,0844,1484,163
4,2414,7195,0505,2065,264
5,3825,5765,7305,8676,002
6,2746,5366,7496,8117,115
7,3927,6107,9478,2268,5698,903
Government
Fed-eral
533
526560559565652
753826833829905
9961,3402,2132,9052,928
2,8082,2541,8921,8631, '
1,9282,3022,4202,3052,188
2,1872,2092,2172,1912,233
2,2702,2792,3402,3582,3482,379
Stateand
local
Seasonally adjusted
55,89756,02756,14256,35356,48856, 562
56, 67056, 72756,85657,00857,03857,205
16,90016, 88516,92116,98417,02517,009
17,03017,00117,02817,06017,03717, 083
9,5489,5409,5599,6019,6289,625
9,6369,6119,6459,6579,6569,691
7,3527,3457,3627,3837,3977,384
7,3947,3907,3837,4037,3817,392
631629631636638638
639637636633634636
2,9112,8902,8882,9602,9682,970
2,9862,9962,9982,9882,9742,989
3,8183,9073,8983,9003,9073,919
3,9213,9193,9253,9163,9123,902
11, 64811, 67011, 69811, 72211, 74011, 762
11, 76711, 79211, 82411,84111, 86911,901
2,8402,8462,8552,8612,8702,874
2,8802,8852,8882,9032,9082,918
8,0798,0988,1368,1538,1758,210
8,2368,2728,2888,3348,3478,374
2,3462,3512,3502,3512,3492,346
2,3452,3392,3422,3452,3412,344
2,532
2,6222,7042,6662,6012,647
2,7282,8422,9233,0543,090
3,2063,3203,2703,1743,116
3,1373,3413,5823,7873,948
4,0984,0874,1884,3404,563
4,7275,0695,3995,6485,850
6,0836,3156,5506,8687,2487,667
6,7246,7516,7656,7866,8166,834
6,9276,9887,0167,058
See footnotes at end of table.
238
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—25.—Number of wage and salary workers in nonagricultural establishments,1929-651—Continued
[Thousands of employees]
Year ormonth
1964: JanFebM a r . . . .AprMayJune..—
J u l y . . . .AugSeptOctN o v . . . .Dec
1965: JanFebMarAprM a y . . -June
J u l y - - .AugSeptOctNov» . . .Dec 8....
Totalwageand
salarywork-
ers
Manufacturing
TotalDura-
blegoods
Non-dura-ble
goods
Min-ing
Con-tractcon-
struc-tion
Trans-porta-tionandpub-lic
utili-ties
Whole-saleand
retailtrade
Fi-nance,insur-ance,andreal
estate
Serv-iceandmis-cel-
lane-ous
Government
Fed-eral
Stateandlocal
Seasonally adjusted
57,25257,60657,69457,78157,86458,033
58,19058,30158,49958,37058,87959,163
59,29559, 58159,81459,84660,03260,290
60, 50160,62160,75661,00161,43061,797
17,08917,13117,15617,17617,18017,222
17,26017,29917,41317,14617,47717, 565
17,63817, 70317,76217,80317,83517,943
18,03218,07218,09818,16318,32318,428
9,6949,7119,7499,7629,7489,776
9,8219,8559,9549,6799,966
10,044
10,09810,15010,19410,24110,26610,345
10,42410,47610,49410,52310,62110,699
7,3957,4207,4077,4147,4327,446
7,4397,4447,4597,4677,5117,521
7,5407,5537,5687,5627,5697,598
7,6087,5967,6047,6407,7027,729
632632632633629635
637631631633636635
634634632629627626
633627617622627633
2,8823,0653,0603,0313,0333,054
3,0533,0563,0463,0743,1243,179
3,1853,2113,2383,1453,1883,195
3,1543,1893,1863,2023,2713,383
3,9163,9243,9203,9373,9363,933
3,9433,9583,9653,9653,9723,994
3,9263,9854,0174,0134,0204,034
4,0314,0494,0674,0714,0814,078
11,95812,00612,01612,03512,06912,116
12,16412,18012,19812,22512,25012,303
12,37412,42312,46012,49412,53212,580
12,61912,60012,64112,68412,74412,807
2,9242,9332,9432,9492,9532,963
2,9712,9712,9822,9872,9942,999
3,0033,0133,0233,0243,0323,041
3,0493,0533,0613,0693,0733,076
8,4218,4608,4778,4908,5228,549
8,6038,6158,6438,6568,6748,705
8,7328,7718,7948,8148,8438,857
8,9298,9468,9679,0199,0609,095
2,3422,3402,3392,3412,3392,325
2,3252,3282,3222,3312,3502,348
2,3422,3382,3422,3442,3452,355
2,3762,3792,3792,3862,4002,410
7,0887,1157,1517,1897,2037,236
7,2347,2637,2997,3537,4027,435
7,4617,5037,5467,5807,6107,659
7,6787,7067,7407,7857,8517,887
1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of the pay period which includes the 12th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagricultural employment of the civilian labor force (Table C-20) which include proprietors,self-employed persons, domestic servants, and unpaid family workers; which count persons as employedwhen they are not at work because of industrial disputes, bad weather, etc.; and which are based on asample survey of households, whereas the estimates in this table are based on reports from employingestablishments.
2 Not available.3 Preliminary.
NOTE.—Data are based on the 1957 Standard Industrial Classification and March 1964 benchmark data.Data for Alaska and Hawaii included beginning 1959.
Source: Department of Labor, Bureau of Labor Statistics.
239
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-26.—Average weekly hours of work in selected industries, 1929-65
Year or month
Manufacturing
Total
44.242.140.538.338.134.636.639.238.635.637.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.741.1
Durablegoods
(3)(3)(3)32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.340.941.141.442.0
Non-durablegoods
(3)(3)(3)41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.1
Con-tractcon-
struc-tion
(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.237.4
Retailtrade
(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)43.443.242.841.840.941.040.941.341.040.941.041.140.940.539.839.739.639.138.738.738.738.538.137.937.8
6 37.036.6
Whole-sale
trade
(3)(3)(3)(3)(3)(3)41.642.943.142.341.841.341.141.442.343.042.841.641.141.040.840.740.840.740.640.540.740.540.340.240.640.540.540.640.640.740.8
Bitumi-nouscoal
mining
38.133.328.127.029.326.826.228.527.723.326.827.830.732.436.343.042.041.340.337.732.334.734.933.834.132.337.337.536.333.335.835.835.9
«37.05 38.9«39.2
40.1
Class Irail-
roads 1
(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)43.744.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.641.941.742.342.642.943.5(3)
Tele-phonecom-
muni-cation 2
1929. .1930—1931. .1932_ .1933_ .1934_ .1935__1936 __1937-.1938..1939 __1940. .1941._1942. .1943..1944._1945..1946..1947 __1948-.1949._1950. .1951-.1952 _.1953..1954-.1955._1956._1957. .1958.-1959_-I960..1961._1962_.1963..1964_.1965 7_
1964: J a n . .Feb—Mar..
May—June.July—Aug..Sept.Oct__NovDec—
1965: Jan__F e b -Mar. .Apr._May_June.July. .Aug..Sept_Oct._Nov ?_
40.140.640.640.840.640.740.740.840.640.740.941.241.241.241.341.041.141.041.041.040.941.241.441.4
38.838.939.139.540.140.541.942.3
* 41.739.437.439.238.538.939.138.538.738.939.639.539.038.439.239.639.439.940.040.240.4
Seasonally adjusted
40.941.341.341.641.441.441.441.641.541.241.742.042.142.142.241.942.041.841.741.741.642.042.242.2
39.239.839.739.939.739.639.739.839.539.939.940.140.140.240.239.940.039.940.040.040.140.140.340.3
35.037.637.337.337.237.336.937.035.837.237.639.037.637.537.537.037.537.137.437.336.237.037.039.4
37.037.137.036.937.137.037.237.136.937.036.836.936.836.836.836.936.836.636.836.736.536.436.4(
40.440.640.740.740.740.740.740.740.540.740.840.840.840.840.940.740.940.840.741.040.840.940.8
Unadjusted
38.636.837.639.040.4(3)39.837.740.740.341.040.039.839.739.540.441.5(3)41.139.441.837.7(
43.543.142.843.442.444.344.342.343.843.342.744.342.444.143.843.643.044.243.743.4
39.339.639.539.339.840.040.240.241.840.841.340.439.940.139.839.840.139.940.640.441.340.942.0
1 Data relate to all employees who received pay during the month, except executives, officials, and staffassistants.
2 Prior to April 1945, data relate to all employees except executives. See footnote 2, Table C-28.* Not available.* Nine-month average, April through December, because of new series started in April 1945.« Eleven-month average; excludes data for July.« Beginning 1964, data include eating and drinking places. Comparable data excluding eating and
drinking places are 37.4 hours for 1964.7 Preliminary.NOTE.—See Note, Table C-25.Data are for production workers in manufacturing and mining, for construction workers in contract
construction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.
The annual figures for 1965 are arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which are weighted by data on employment.
See Table C-29 for unadjusted average weekly hours in manufacturing.Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.
24O
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE
Year or month
1929193019311932193319341935 . . .1936193719381939--194019411942194319441945194619471948194919501951 - .19521953195419551956195719581959 - . - -I960 .196119621963196419658 . - --1964: Jan
FebMarAprMayJuneJulyAugSept .OctNov-_Dec.
1965: JanF e bMarApr . - -M a yJune _JulyAugSeptOctNov8.Dec8
C-27.--Average gross hourly earnings in selected industries, 1929-65
Manufacturing
Total
$0,560.546.509.441.437.526.544.550.617.620.627.655.726.851.957
1.0111.0161.0751.2171.3281.3781.4401.561.651.741.781.861.952.052.112.192.262.322.392.462.532.612.512.502.512.522.532.532.532.522.562.522.552.582.582.592.592.602.612.612.612.592.632.632.652.66
Dura-ble
goods
$0,492.467.550.571.580.667.679.691.716.799.937
L.048L. 105L.099L. 144L.2781.395L.453L.519L. 65L. 75L. 861.90.99
2.082.192.262.362.432 492.562.632.712.792.682 682.682.702 702.712.702.702.742.692.722.762.762.772.782.782.792.792.792.772.812.822.832.84
Non-durablegoods
$0,412.419.505.520.519.566.572.571.590.627.709.787.844.886.995
1.1451.2501.2951.3471.441.511.581.621.671.771.851.911.982.052.112.172.222.292.362.282.272.272.282.282.282.292.282.322.302.312.322.332.332.332.342.352.352.362.362.382.382.392.40
Con-tractcon-
struc-tion
i8IIw
$1.5411.7131.7921.8632.022.132.282.392.452.572.712.822.933.083.203.313.413.553.683.573.533.513.533.503.493.523.543.583.613.573.633.623.683.653.613.653.663.643.683.743.763.73
Retailtrade
$
$0,484.494.518.559.606.653.699.797.901.972
1.0151.0501.131.181.251.291.341.401.471.521.571.621.681.741.80
7 1.751.821.731.731.731.741.751.751.751.751.771.771.781.771.791.791.791.801.821.821.821.821.851.861.86
Whole-sale
trade
1$0,610
.628
.658
.674
.688
.711
.763
.828
.898
.948
.9901.1071.2201.3081.3601.4271.521.611.701.761.831.942.022.092.182.242.312.372.452.522.602.482.502.512.512.532.512.522.522.542.542.562.552.562.582.582.592.612.592.602.602.622.632.64
Bitu-minous
coalmining
$0,659.662.626.503.485.651.720.768.828.849.858.854.9601.030L. 101L.1471.199L.357L.582L. 8351.8771.9442.142.222.402.402.472.722.922.933.113.143.12
6 3.128 3.156 3.30
3.493.213.203.203.283.303.32
3.343.353.343.383.373.473.483.463.473.503.51
3.523.503.503.51
Class Irail-
roads 1
1$0,730
.733
.743
.837
.852
.948
.9551.0871.1861.3011.4271.5721.731.831.881.931.962.122.262.442.542.612.672.722.762.80
2.762.802.762.762.782.772.772.812.812.802.852.892.993.032.972.983.012.993.002.99
ii
Tele-phonecom-
munica-tion 2
1$0,774
.816
.822
.827
.820
.843
.870.911
5.9621.1241.1971.2481.3451.3981.491.591.681.761.821.861.952.052.182.262.372.482.562.622.692.602.592.602.592.622.612.602.602.612.652.662.692.672.672.672.682.692.692.672.682.732.732.76
Agri-cul-
ture3
$0.241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.818.834.856.880.904.951.962
.827
.897
.915
1.010
.860
.929
.984
1 For coverage of series, see footnote 1, Table C-26.2 Prior to April 1945, data relate to all employees except executives; for April 1945-May 1949, mainly to em-
ployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employees only.3 Weighted average of all farm wage rates on a per hour basis.* Not available.8 Nine-month average, April through December, because of new series started in April 1945.s Eleven-month average; excludes data for July.7 Beginning 1964, data include eating and drinking places. Comparable data excluding eating and
drinking places are $1.87 for 1964.8 Preliminary.NOTE.—See Note, Table C-25.Data are for production workers in manufacturing and mining, for construction workers in contract con-
struction, and for all nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.
The annual figures for 1965 are arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which are weighted by data on man-hours.
Data for Alaska and Hawaii included beginning 1959.Sources: Department of Labor, Bureau of Labor Statistics, and Department of Agriculture.
241
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-28.—Average gross weekly earnings in selected industries, 1929-65
Year or month
Manufacturing
TotalDura-
blegoods
Non-durablegoods
Con-tractcon-
struc-tion
Retailtrade
Whole-sale
trade
Bitumi-nouscoal
mining
Class Irail-
roads i
Tele-phonecom-mu-nica-tion2
1929.1930..1931.1932..1933..1934..1935.1936..1937..1938..1939..
1941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965 61964: Jan...
Feb.-Mar__Apr_._May-June - -July__Aug._-Sept._Oct...Nov__Dec...
: Jan__.Feb..-Mar._Apr..-May._June.-July..Aug...Sept..Oct...Nov«_Dec«-
1965:
$24.7623.0020.6416.8916.6518.2019.9121.5623.8222.0723.6424.9629.4836.6843.0745.7044.2043.3249.1753.1253.8858.3263.3467.1670.4770.4975.7078.7881.5982.7188.2689.7292.3496.5699.63
102.97107. 2799.90
100.75101.40102.06102. 97103. 73102.97103.07104.19102. 82104.30107. 07105.52105.93106. 71105.82107.53107.79107.01106.45107.83108.62109.71110.92
$26.8424.4220.9815.9916.2018.5921.2423.7226.6123.7026.1928.0733.5642.1748.7351.3848.3646.2251.7656.3657.2562.4368.4872.6376.6376.1982.1985.2888.2689.2796.0597.44
100.35104. 70108.09112.19117.18108.81109.88110.15111.78112. 05113. 28111.51112.32113.98111.10113.42117. 02115.37115.79117.04115.93117.46117. 74116.06115. 51117.18118. 72119. 43120.98
$22.4721.4020.0917.2616.7617.7318.7719.5721.1720.6521.3621.8324.3928.5733.4536.3837.4840.3046.0349.5050.3853.4856.8859.9562.5763.1866.6370.0972.5274.1178.61
82.9285.9387.9190.9194.6488.4689.4489.6790.0690.5290.9791.3791.4391.8792.0092.1793.5092.5092.7393.2092.2094.0094.4794.8795.1195.6895.6896.3297.20
()$58.8765.2767.5669.6876.9682.8686.4188.9190.9096.38100.27103. 78108.41113.04118.08122.47127.19132.06137. 63121.38126.37128.12130. 61133. 00133.32134.11136. 64131.39138.99131. 73133.95131.41131. 38133.96132.49140.16139.08140.50143.15138.75144.01135.40
()$26. 7525.1925.4425.3826.9628.3628.5128.7629.3631.3634.2837.9940.7642.3746.0550.1453.6355.4958.0862.0265.5369.0271.2874.4878.5781.4184.0288.5190.7293.5696.2299.47
102. 56106.0899.70100. 75101. 66101.91102.97102.41103.32102. 56102.87103.38104.45104. 81103.94104. 49105.01105.15106. 75105.93106.60106.60106.90107. 57107. 71
$25.1122.0417.5913.5814.2117.4518.8621.8922.9419.7822.9923.7429.4733.3739.9749.3250.3656.0463.7569.1860.6367.4674.6975.0481.8477.5292.13102.00106.0097.57111.34112.41112.01114.46121. 43128.91139. 71127.12123. 52117. 76123.33128. 70134.13122.84132. 93126.30135.94136. 21138.17138.80138.50137.36137.07141. 40145.67137.11144.67137.90146. 30132.33
()
$31.9032.4734.0339.3441.4946.3646.3250.0055.0360.1162.3664.1470.9374.3076.3378.7482.1288.4094.24101.50106.43108.84112.94115.87118.40121.80(3)
120. 06120. 68118.13119. 78117.87122. 71122.71118. 86123. 08121.24121. 70128. 03126. 78133. 62130.09129.93129.43132.16131.10129. 77
()$30.0331.7432.1432.6732.8834.1436.4538.54* 40.1244.2944.7748.9251.7854.3858.2661.2265.0268.4672.0773.4776.0578.7285.4689.5093.3898.95192. 40105.32108. 68102.18102. 56102. 70101. 79104. 28104.40104.52104. 52109.10108.12109.86108.68106. 53107.07106.27106.66107.87107.33108. 40108.27112.75111.66115. 92
)1 For coverage of series, see footnote 1, Table C-26.2 Prior to April 1945, data relate to all employees except executives; for April 1945-May 1949, mainly to
employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.
3 Not available.4 Nine-month average, April through December, because of new series started in April 1945.6 Beginning 1964, data include eating and drinking places. Comparable data excluding eating an d drink-
ing places are $69.94 for 1964.6 Preliminary.NOTE.—See Note, Table C-25.Data are for production workers in manufacturing and mining, for construction workers in contract con-
struction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.
The annuai figures for 1965 are the product of unweighted arithmetic averages of average weekly hoursand average hourly earnings for the months shown and are not strictly comparable with the averagesfor earlier years.
Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.
242
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-29.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-65
Year or month
19391940194119421943.194419451946194719481949195019511952 . .1953195419551956195719581959 ._1960196119621963 --19641965*1964: Jan
FebMarAprMay . -June.. - . -JulyAugSeptOctNovDec
1965- JanF e bMarAprMayJuneJulyAug -_SeptOctNov*Dec* ._
All manufacturing industries
Averageweeklyhours
Gross
37.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539 640.740.439 839.240.339 739.840.440.540.741.139.840 340.440.540.741.040.740.940.740.840.941.540.940.941.240.741.241.341.041.141.041.341.441.7
Ex-clud-ing
over-time
0)0)0)(i)( i )0)( i )
0)0)(1)
0)0)(1)0)0)0)37.637.537.237.637.337.437.637.737.637.537.137.637.637.637.737.837.737.637.237.537.637.937.637.637.737.637.737.737.637.637.237.437.537.7
Average hourlyearnings
Gross
$0.627.655.726.851.957
1.0111.0161.0751.2171.3281.3781.4401.561.651.741.781.861.952.052.112.192 262.322.392.462.532.612.512 502.512.522.532.532.532.522.562.522.552.582.582.592.592 602.612.612.612.592.632.632.652.66
Ex-clud-ing
over-time
0)0)
$0.691.793.881.933
3.9491.0351.181.291.341.391.511.591.681.731.791.891.992.052.122.202.252.312.372.442.502.432.422.432.432.442.432.432.422.462.422.452.472.482.482.492.502.502.502.502.492.512.522.532.54
Exclud-ing
over-timeand
inter-indus-
try shift(1957-
59=100)
32.2
0)2 33.42 37.52 40.82 43.72 45.52 50.4
57.863.266.168.273.677.481.684.386.991.596.2
100.2103.5106.6109.6112.3115.2118 0120.8117.2117 3117.4117.7117.8117.8117.9117.9118.7118.1118 7119.2119.7120.0120.1120 4120.6120.8120.9120.7121.7121.8122.20)
Durable goods manufac-turing industries
Averageweeklyhours
Gross
37.939.242.045 046.546.544 040.440.540 439.441.141.541.541.240.141.341.040 339.540.740 140.340.941.1
1 41 442.040.641 041.141.441.541.841.341.641.641.341.742.441.841.842.141.742.142.241.641.741.742.142.242.6
Ex-clud-ing
over-time
(00)0)(1)0)
(00)(1)
0)0)(1)0)0)(1)0)38.037.937.638.037.738.038.138.238.138.137.738.238.238.338,338.438.138.137.937.938.238.438.238.138.338.238.238.237.937.937.737.937.938.2
Averagehourly
earnings
Gross
$0.691.716.799.937
1.0481.1051.0991.1441.2781.3951.4531.5191.651.751.861.901.992=082.192.262.362.432.492.562.632.712.792.682.682.682.702.702.712.702.702.742.692.722.762.762.772.782.782.792.792.792.772.812.822.832.84
Ex-clud-ing
over-time
0)0)
$0.762872.966
1.0191 0311.1111.241 351.421.461.591.681.791.841.912.012.122.212.282.362.422.482.542.602.672.592.592.592.602.602.602.602.592.622.582.612.642.652.652.662.672.662.672.672.652.682.682.692.70
Nondurable goods manu-facturing industries
Averageweeklyhours
Gross
37.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.138.839.439.539.539.739.939.940.139.640.039.940.339.739.840.039.440.040.240.240,340.240.240.340.5
Ex-clud-ing
over-time
0)0)0)(i)0)0)(1)
C1)0)0)0)0)(1)OS0)0)37.237.036.637.036.736.836.936.936.837.036.336.836.936.836.937.037.037.036.436.936.937.236.936.937.036.736.937.137.137.136.736.836.937.2
Averagehourly
earnings
Gross
$0.571.590.627.709.787.844.886.995
1.1451.2501.2951.3471.441.511.581.621.671.771.851.911.982.052.112.172.222.292.362.282.272.272.282.282.282.292.282.322.302.312.322.332.332.332.342.352.352.362.362.382.382.392.40
Ex-clud-ing
over-time
0)0)
$0.613.684.748.798
3.841.962
1.111.211.261.311.401.461.531.581.621.721.801.861.921.992.052.092.152.212.262.202.192.202.212.212.202.212.202.232.212.232.242.252.252.252.262.262.262.272.262.282.282.292.30
1 Not available.2 Annual average not available; April used.» Eleven-month average; August 1945 excluded because of VJ Day holiday period.* Preliminary.NOTE.—See Note, Table C-25.Data relate to production workers and are for pay period which includes the 12th of the month.The annual figures for 1965 are arithmetic averages of the monthly figures shown and are not strictly
comparable with the averages for earlier years, which are weighted by data on employment (in the case ofhours) and man-hours (in the case of earnings).
See Table C-26 for seasonally adjusted average gross weekly hours.Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.
243
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TABLE C—30.—Average weekly earnings, gross and spendable, in manufacturing industries,in current and 1957-59 prices, 1939-65
Year or month
1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 3
1964: J a n . . .Feb . . .Mar.. .Apr . . .May_.June . .
J u l y . .Aug...Sept . .Oct_-Nov_.D e c .
1965: Jan...Feb..Mar__Apr_.May.June..
July..Aug..Sep_.Oct..Nov3.Dec 3.
Average gross weeklyearnings
Currentprices
$23.64
24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88
58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26
89.7292.3496.5699.63
102. 97107.27
99.90100.75101. 40102.06102.97103. 73
102.97103.07104.19102.82104.30107. 07
105.52105.93106.71105.82107.53107. 79
107.01106.45107.83108.62109. 71110.92
1957-59prices 2
$48.84
51.1557.4764.5871.4374.5570.4963.7163.2063.3964.92
69.5969.9972.6175.6175.3181.1483.1983.2682.1486.96
87.0288.6291.6193.3795.2597.61
92.7693.6394.1594.6895.5296.05
95.0895.2696.1294.7695.9598.41
96.9097.2797.9096.8298.1197.90
97.1196.7797.8598.3999.2099.93
Average spendable weekly earnings l
Worker with nodependents
Currentprices
$23.37
24.4627.9631.8035.9537.9936.8237.3142.1046.5747.21
50.2652.9755.0457.5958.4562.5164.9266.9367.8271.89
72.5774. 6077.8679.8284.4088.87
81.9882.6583.1683.6884.4085.00
84.4084.4885.3684.2885.4587.63
87.4787.8088.4287.7189.0889.29
88.2189.3289.9590.8391.80
1957-59prices 2
$48.29
50.1254.5055.9959.6261.9758.7254.8754.1155.5756.88
59.9858.5359. 5061.7962.4567.0068.5568.3067.3570.83
70.3971.5973.8774.8178.0880.86
76.1276.8177.2177.6378.2978.70
77.9378.0878.7577.6878.6180.54
80.3280.6281.1280.2581.2881.10
80.4580.1981.0581.4882.1282.70
Worker with threedependents
Currentprices
$23.40
24.7129.1936.3141.3343.7642.5942.7947.5852.3152.95
56.3660.1862.9865.6065.6569.7972.2574.3175.2379.40
80.1182.1885.5387.5892.1896.56
89.6590.3590.8991.4392.1892.81
92.1892.2693.1992.0693.2895.56
95.0995.43
95.3496.7896.99
96.3495.8797.0397.6998.61
1957-59prices 2
$48.35
50.6456.9063.9368.5471.3967.9362.9361.1662.4263.80
67.2666.5068.0970.3970.1474.8076.2975.8374.7178.23
77.7078.8781.1582.0885.2787.86
83.2483.9784.3984.8185.5185.94
85.1285.2785.9784.8585.8187.83
87.3287.6388.1687.2388.3088.09
87.4287.1588.0588.4989.1689.75
1 Average gross weekly earnings less social security and income taxes.2 Earnings in current prices divided by the consumer price index on a 1957-59 base.3 Preliminary.
NOTE.—See Note, Table C-25.Data relate to production workers and are for pay period which includes the 12th of the month.The annual figures in current prices for 1965 are the product of unweighted arithmetic averages of
average weekly hours and average hourly earnings for the 12 months and are not strictly comparablewith the averages for earlier years.1
Data for Alaska and Hawaii included beginning January 1959.
Source: Department of Labor, Bureau of Labor Statistics.
244
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TABLE G-31.—Indexes of output per man-hour and related data, 1947—65
[1957-59=100]
YearTotal
private
Output per man-hour
Agri-culture
Non-agri-
culturalindus-tries
Output i
Totalprivate
Agri-culture
Non-agri-
culturalindus-tries
Man-hours
Totalprivate
Agri-culture
Non-agri-
culturalindus-tries
1947..1948-1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958-1959..
I960..1961..1962..1963..1964..
1965 3
1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956.19571958.1959
19601961196219631964
1965
Establishment basis2
69.272.174.4
80.682.984.588.090.0
94.094.196.999.7
103.4
105.1108.7113.7117.7121.9
125.3
50.758.957.4
65.365.470.980.284.3
84.888.393.3
103.0104.7
110.3119.0121.4132.6133.8
143.6
74.376.579.5
84.686.387.289.791.7
95.795.197.299.6
103.1
104.4107.4112.3115.4119.5
122.4
67.670.870.6
77.982.884.889.187.9
95.497.298.697.3
104.1
106.7108.7116.0120.6126.9
134.1
82.191.888.9
93.788.991.896.698.6
101.0100.598.1
100.5101.9
105.8107.2106.8110.6107.7
112.6
66.869.769.6
77.082.484.588.787.4
95.197.098.697.1
104.2
106.7108.7116.5121.1127.9
135.2
97.798.294.9
96.799.9
100.4101.397.7
101.5103.3101.897.6
100.7
101.5100.0102.0102.5104.1
107.0
161.8155.8154.8
143.4136.0129.4120.5117.0
119.1113.8105.197.697.3
95.990.188.083.480.5
78.4
Labor force basis 4
67.970.271.9
78.582.184.588.490.8
94.794.697.299.4
103.4
104.6107.4113.0116.5120.2
123.1
50.759.057.0
65.165.070.579.783.8
84.387.893.3
103.1104.6
110.3119.5121.6132.9134.3
144.0
72.974.476.7
82.485.687.690.392.8
96.795.897.799.1
103.1
103.8105.8111.4114.1117.6
119.9
67.670.870.6
77.982.884.889.187.9
95.497.298.697.3
104.1
106.7108.7116.0120.6126.9
134.1
82.191.888.9
93.788.991.896.698.6
101.0100.598.1
100.5101.9
105.8107.2106.8110.6107.7
112.6
66.869.769.6
77.082.484.588.787.4
95.197.098.697.1
104.2
106.7108.7116.5121.1127.9
135.2
99.6100.898.2
99.2100.9100.4100.896.8
100.7102.7101.497.9
100.7
102.0101.2102.7103.5105.6
108.9
161.8155.6156.1
143.9136.8130.2121.2117.6
119.8114.5105.197.597.4
95.989.787.883.280.2
78.2
89.991.187.6
91.095.596.998.995.3
99.4102.0101.497.5
101.1
102.2101.2103.7104.9107.0
110.5
91.693.790.8
93.596.396.598.294.2
98.3101.2100.998.0
101.1
102.8102.7104.6106.1108.8
112.8
1 Output refers to gross national product in 1958 prices.2 Man-hour estimates based primarily on establishment data.3 Preliminary.4 Man-hour estimates based primarily on labor force data.NOTE.—For information on sources and methodology, see Bureau of Labor Statistics (Department of
Labor) Bulletin No. 1249, Trends in Output per Man-hour in the Private Economy, 1909-58.Data for Alaska and Hawaii included beginning 1960.Source: Department of Labor, Bureau of Labor Statistics.
245
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PRODUCTION AND BUSINESS ACTIVITY
TABLE C-32.—Industrial production indexes, industry groupings, 1947-65
[1957-59=100]
Year or month
Totalindus-trial
produc-tion i
Manufacturing
Total
Durable manufactures
TotalPri-
marymetals
Fabri-catedmetalprod-ucts
Ma-chinery
Trans-porta-tion
equip-ment
Instru-mentsand re-latedprod-ucts
Clay,glass,and
lumber
Furni-tureand
miscel-laneous
1947..1948..1949-.
1950..1951_.1952-.1953-1954-.
1955_.1956-.1957-.1958-1959-
1960-.1961-1962-_1963_.1964-.
1965 2
1964: Jan. . .FebMarAprMayJune
JulyAugSeptOctNovDec
1965: JanFebMarAprMayJune
JulyAugSeptOctNovDec-'
65.768.464.7
74.981.384.391.385.8
100.793.7
105.6
108.7109.7118.3124.3132.3
143.3
127.9128.4129.3130.8131.8132.0
133.3134.0134.0131.6135.4138.1
138. 6139.2140.7140.9141.6142.7
144.2144. 5143.5144.8146.3148.3
66.468.965.1
75.881.985.292.786.3
97.3100.2100.893.2
106.0
108.9109.6118.7124.9133.1
144.9
64.367.060.9
74.183.588.599.988.4
101.9104.0104.090.3
105.6
108.5107.0117.9124.5133.5
148.3
90.794.379.4
99.9108.799.3
112. 591.3
118.4116.4112.287.5
100.4
101.398.9
104.6113.3129.1
137.8
75.977.269.8
85.491.289.0
100.390.2
98.398.8
101.592.9
105.5
107. 6106.5117.1123.4132.7
148.2
65.366.559.0
72.783.092.1
100.587.7
96.5107.1104.288.8
107.1
110.8110.4123.5129.2141.4
160.3
42.946.947.1
56.462.973.191.783.8
102.097.4
106.489.5
104.0
108.2103.6118.3127. 0130.7
148.9
53.755.249.2
57.365.778.185.382.9
88.795.498.092.1
109.9
116.5115.8123.0130.2136.4
151.4
75.879.772.3
87.792.089.392.789.6
100.7102.097.594.1
108.5
105.7104.5109.3114.4121.1
127.4
73.577.471.6
80.282.489.7
97.9101.097.693.3
109.0
113.3114.1124.5129.1138.4
151.7
Seasonally adjusted
128.6 i129.2130.1 !131.7 !132.6 I132.7 I
134.2134.9134.8132.0136.4139.4
140.2140.8142.3142.4143.1144.1
145.7146.0145.2146.3147.9150.1
128.3129.1130.3131.8133.1133.6
135.4136.2135. 3129.9137.0140.9
142.0142.7144.8145.5146.4148.1
150.0150.5148.2 !149.7 I151.3 !154.7 j
113.7118.7122.1123.4129.0126.3
131.8134.4132.9133. 6136.1138.6
139.6136.9140.4141.4140.2143.0
148.7146. 5131.2123. 3121.1128
128.3129.1129.4131.0131. 3132.0
133.4134.9134.3130.7136.9139.7
140.6145.0145.2147.4146.0146.4
148.0147.5147.0149.5154.2157
135.0133.7136.2137.8138.7140.5
142.2143.2144.4145. 2147.7150.1
150.7152. 5153.9155. 4156.9159.0
160.6161.4162.3165.6167.3170
130.8131.1130.1133.0134.3135.5
135.3135.9131.3105. 3129. 2140.3
141.4139.7144.4144.6147.3149.5
149.8151.5149.4153.6156.0159
132.2133.6134.2134.7134.6134.8
136.4137.4138.6137.6140.2142.0
142.7145.3146.9145. 5147.0149.8
152.1152.6155.7158.0159.2161
117.9121.6121.9121.6120.9120.1
122.6121.4120.7121.0120.9121.1
124.9125.9126.0124.1125.5124.7
126.3127.5127.3128.5129.1135
133.0133.9134.7135.6136.2138.0
138.5139.0138.4141.7143.4145.4
145.2147.6148.4149.5150.1150.3
149.7151.5152.0155.1158.0160
See footnotes at end of table.
246
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TABLE C-32.—Industrial production indexes, industry groupings, 1947—65—Continued
[1957-59=100]
Year or month
July.Aug-Sept.Oct.-.Nov_Dec.
1965: Jan. . .Feb . .Mar_.Apr--May. .June. .
Ju ly . .Aug--Sept...Oct..-Nov_-Dec2 .
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965 2
1964: J a n . . .Feb.-Mar_.Apr..May_June_
Manufacturing
Nondurable manufactures
Total
67.269.568.3
76.078.580.083.683.6
91.695.496.796.8
106. 5
109.5112.9119.8125.3132.6
140.6
Textile,apparel,
andleather
products
81.084.580.6
89.187.489.590.7
95.598.096.995.0
108.1
107.5108.4115.1118.5125.2
135.8
Paperand
printing
66.769.469.3
76.779.477.782.685.0
92.597.197.897.0
105.2
109.0112.4116.7120.1127.5
135.1
Chem-ical,
petro-leum,and
rubberproducts
47.550.849.4
60.767.469.975.274.7
86.891.495.695.5
108.9
113.9118.9131.2141.8152.5
164.7
Foods,bever-ages,and
tobacco
80.780.0
83.685.487.388.289.8
93.196.696.799.4
103.9
106. 6110.2113.3116.8120. 8
123.0
Mining
Seasonally adjusted
79.984.074.5
83.291.390.592.990.2
99.2104.8104.695.699.7
101.6102.6105.0107.9111.3
114.5
Utilities
128.9129.3129.9131.5131.9131.5
132.8133.2134.2134.6135.6137.6
137.9138.4139.1138.5138.8139.0
140.4140.4141.3142.0143.6144.4
121.1121.5121.3122.4123.8123.2
125.5126.4127.0128.9130.2131.5
133.3133.8133.7133.9135.0134.5
134.7134.1135.5137.0138.8141
123.5124.5125.4127.5128.2126.6
128.0127.9127.4128.8128.2132.1
132.0131.8132.9133.2134.2134.0
135.9136.4135.4135.8137.9139
146.3147.1148.0150.3150.6152.1
152.8154. 0157.1156.2156.2158.5
158.2160.4162.0160.8161.2161.6
164.1164.9166.9167.8169.3170
120.3119.6120.2121.0120.7119.5
120.5120.2120.4120.5123.3123.9
124.2123.4123.7122.4121.5122.3
122.9122.3123.1123.0124.2125
109.4109.6109.4110.3111.7111.9
111.7112.1112.2112.0112.8112.5
111.8111.8112.5113.0114.0115.3
116.0117.0112.6115.9116. 5118
I
36.540.843.4
49.556.461.266.871.8
80.287.993.998.1
108.0
115.6122.3131.4140.0151.3
161.4
145.6145.1146.6148.5150.3151.8
152.7153.9155.0154.9155.4157.1
154.9156.1158.5159.9160.4162.5
161.6161.9165.3165.7166.5167
1 Annual indexes for 1929-46 are, respectively: 38.4, 32.0, 26.5, 20.7, 24.4, 26.6, 30.7, 36.3, 39.7, 31.4, 38.3,43.9, 56.4, 69.3, 82.9, 81.7, 70.5, and 59.5.
2 Preliminary.
Source: Board of Governors of the Federal Reserve System.
247
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TABLE C-33.—Industrial production indexes, market groupings, 1947-65
[1957-59 = 100]
Year or month
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965 2
1964: JanFebMarAprMay..June
JulyAug. .SeptOctNovD e c .
1965: JanFebMarAprMayJune
July.AugSeptOctNovDec 2
Totalindus-trialpro-duc-tion
65.768.464.7
74.981.384.391.385.8
96.699.9
100.793.7
105.6
108.7109.7118.3124.3132.3
143.3
Final products
Total
64.266.664.5
72.878.684.389.985.7
98.199.494.8
105.7
109.9111.2119.7124.9131.8
142.4
Consumer goods 1 Equipment
Total
67.169.268.8
78.677.879.585.084.3
93.395.597.096.4
106.6
111.0112.6119.7125.2131.7
140.3
Auto-motiveprod-ucts
69.472.672.0
90.680.172.191.385.0
118.397.8
105.286.7
108.1
123.2111.8131.1141.2145.1
167.1
Homegoods
Total,includ-
ingdefense
68.871.766.3
91.478.778.890.286.0
97.3100.996.692.8
110.7
110.8112.2122.2129.6141.1
154.8
55.458.352.0
56.478.494.1
100.588.9
95.0103.7104.691.3
104.1
107.6108.3119.6124.2132.0
146.8
Busi-ness
72.663.5
68.083.194.196.685.1
91.9104.7105.389.8
104.9
110.2110.1122.1128.3139.1
156.5
Materials
Total
67.070.264.8
76.983.884.392.685.9
99.0101.6101.992.7
105.4
107.6108.4117.0123.7132.8
144.2
Dur-able
goods
68.271.064.2
79.587.888.9
100.788.4
104.7105.3104.890.0
105.1
106.6104.8114.1121.2131.2
144.3
Non-durablegoods
64.968.264.2
73.378.879.084.183.3
93.097.798.995.4
105.7
108.7112.2120. 0126.3134.3
144.1
Seasonally adjusted
127.9128.4129. 3130.8131.8132.0
133.3134.0134.0131.6135.4138.1
138.6139.2140.7140.9141.6142.7
144.2144.5143.5144.8146.3148.3
128.9128.5128.6131.0131.4131.9
132.3133.1132.8130.5135.2138.1
138.4138.5140.1139.4140. 2140.7
141.7142.3143.3145.3147.3148.1
129.4129.1128.5131.1131.4131. 7
132.2133.1132.5129.5134.5138.0
138.4138.0140.0138.5138.6138.7
139.3139.5140.7141.3143.0143.9
146.6145.5144.3149.3151. 2151.8
152.6155.8144.7105.9143.0166.2
165.7163. 8173.1166.9168.1168.1
167.8169.8166.5168.4169.2169
135.6137.6137.2138.7137.7138.8
140.9141.7140.6144.0147.7150.5
151.7152.7154.0152.1151.8151.3
151.2149.8153. 0156.0159.2
127.8127.2128.9130.8131.4132.1
132. 5133.2133.5132.5136.7138.4
138.2139.4140.4141.2143.7144.9
147.0148.4149.0153.9156.5157.3
132.8132.0134.3136.6138.1139.1
140.0141.1141.4140.6146.1148.5
147.7149.2150.1150.9153.5154.6
156.4157.8159.0163.8166.7167
126.7128.4129.5131.1132.2132.4
134.5135. 3135.6132.6135. 9138.0
138.8139.7141.7142.6142.6144.5
146.4146.1143.7144.3145.8148.6
123.0126.1127.8129.5131.1131.7
133.8135.2135. 3128.6134.9136.8
138.0139.0142.6142.9143.4146.1
148.4147.3142.8142.1143.8147
130.6130.8131.2132.7133.3133.2
135.2135.3135.8136.7137.0
139.5140.5140.6142.4141.8143.4
145.0144.8144.5147.2147.9150
1 Also includes apparel and consumer staples, not shown separately.2 Preliminary.Source: Board of Governors of the Federal Reserve System.
248
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TABLE C—34.—Manufacturing capacity, output, and utilization rate, 7948-65
19481949
19501951195219531954
19551956195719581959
19601961196219631964
19653
1961* IIIIIIIV
1962- IIIIIIIV
1963- IIIIIIIV
1964- IIIIIIIV
1965- IIIIIIIV 3
Period Capacity *
8084
879094100104
108113119122126
131134139145151
160
Output(1957-59=
100)
6965
7682859386
9710010193106
109110119125133
145
Utilizationrate
(percent) 2
Seasonally adjusted
133134135136
137138139141
142144145147
148150152154
156159161163
103108112115
117119120120
121125126127
129132135136
141143146148
8678
8891909383
9088857684
83
868688
91
78818385
85868685
85878787
87888988
90909191
1 For description and source of data see Frank de Leeuw "The Concept of Capacity," Journal of the Ameri-can Statistical Association, December 1962, vol. 57, pp. 826-84, and Peter Gajewski "Manufacturing CapacityMeasures and Current Economic Analysis," a paper presented at the 1964 American Statistical AssociationMeetings. See also McGraw-Hill surveys on "Business Plans for New Plants and Equipment" for dataon capacity and operating rates.
2 Output as percent of capacity; based on unrounded data,s Preliminary.
Source: Board of Governors of the Federal Reserve System (output) and sources in footnote 1 (capacityand utilization rate).
249
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TABLE C-35.—New construction activity, 1929-65[Value put In place, millions of dollars]
Year or month
Totalnewcon-
struc-tion
Private construction
Total
Residentialbuilding
(nonfarm)
TotalNewhous-ing
units
Nonresidential building andother construction
TotalCom-mer-cial2
In-dus-trial
Other«
Public construction
TotalFed-eral
Stateandlocal
1929.1930.1931.1932.1933.1934.1935.1936.1937.
1939 ...19401941194219431944194519461946 new series *.1947194819491950195119521953195419551956195719581959I960. . . -19611962196319641965*
1964: J a n . . . .F e b . . .M a r . .Apr._.May. . .June. . .J u l y . .Aug__.Sept. . .Oct. .- .Nov_..Dec
1965: Jan. ._ .F e b . . .Mar_..
May . .June.- .Ju ly . . .A u g . . .Sept. . .Oct—.Nov «..Dec«. .
10, 7938,7416,427
2,8793,7204,2326,4976,9996,9808,1988,682
11,95714,0758,3015,2595,809
12, 62714,30820,04126,07826, 72233, 57535,43536,82839,13641, 38046, 51947, 60149,13950,15355,30553,94155, 44759, 57662, 75565,81768,112
65, 02466, 01166,23566,85065,54966,36166,38465,48065,96864,86165,15366,17866,16866,94767,64667,60667,57268,950
67,95369,31167,61669,34969,330
8,3075,8833,7681,6761,2311,5091,9992,9813,9033,5604,3895, 0546,2063,4151,9792,1863,41110,39612, 07716, 72221, 37420, 45326, 70926,18026, 04927, 89429, 66834,80434, 86935, 08034,69639,23538,07838,29941, 70743,85945,89147,878
3,6252,0751,565630470625
1,0101,5651,8751,9902,6802,9853,5101,715885815
1,2764, 7526,2479,85013,12812, 42818,12615, 88115,80316, 59418,18721,87720; 17819,00619, 78924,25121, 70621,68024, 29225,84326, 50726, 647
3,0401,5701,320485290380710
1,2101,4751,6202,2702,5603,0401,440710570720
3,3004,7957,76510,50610,04315, 55113, 20712, 85113,41114, 93118, 24216,14314, 73615,44519, 23316,41016,18918, 63820,06420,61220, 723
4,6823,8082,2031,046
761884989
1,4162,0281,5701,7092,0692,6961,7001,0941,3712,1355,6445,8306,8728,2468,0258,583
10, 29910, 24611,30011, 48112, 92714, 69116,07414,90714, 98416,37216, 61917,41518,01619,38421,231
1,1358934542231301732112903872852923484091553356
203,153,153957
,397,1821,415, 498[,1371,7912,2123,2183,6313,5643,5893,9304,1804,6744,9555,2005,6566,434
94953222174
176191158266492232254442801346156208642
1,6891,6891,7021,397
9721,0622,1172,3202,2292,0302,3993,0843, 5572,3822,1062,8512,7802,9492,9623,3034,010
2,5982,3831,528749455520620860
1,1491,0531,1631,2791,4861,199905
1,1071,2902,8022,9884,2135,4525,8716,1066,6846,7897,2807,2397,3107,9768,9538,9368,9489.3419,1659,5119,85410,42510,787
2,4862,8582,6591,8621,6482,2112,2333,5163,0963,420
3,6285,751
10,6606,3223,0732,3982,2312,2313,3194,7046,2696,8669,255
10, 77911,24211, 71211, 71512, 73214,05915,45716,07015,86317,14817,86918,89619,92620,234
235313506444802
1,3471,3812,3631,8932,0372,1362,1284,4489,7885,8772,6311,8361,1091,1091,2491,5941,9492,0783,4454,7354.8394,1033,5083,5834,2435,4936,4355,8896,3056,4697,1207,3117,068
Seasonally adjusted annual rates45,77846,42246, 80346,54746,08746,16846,08845,50845,57145,29445,36845,68446, 44646,91247,21947,56047,98248,616
48,19448,06847, 84448,04548,394
26,99327,44327,80327,40626,75926,58626, 55126,25225,93425,68525,63825,95326,67626, 71326,60226,67527, 07027,22426,98326,62126,41326,34326,195
21,08521,56921,93121,50520,83420,65820,61720,31420,00319,80119,81220,16120,84520,86620,73520,76221, 07721,20320,99020,65720,49120,41620,29220.329
18, 78518,97919,00019,14119,32819, 58219, 53719,25619,63719,60919,73019, 73119, 77020,19920,61720,88520,91221,39221,62021,57321,65521,50121,85022,155
5,5665,6575,7085,6945,7465,7425,6425,4935,5875,6535,7095,6415,6625,7015,9036,0896,2546,5746,8266,8156,7546,5296,6757,029
3.1033,1223,1463,1463,1993,2183,2803,3613,4003,4453,5213,6103,7923,8713,9343,9974,0124,0404,0734,0964,1144,0994,050
10,11610,20010,14610,30110,38310,62210,61510,40210,65010,51110,50010,48010,31610,62710,78010, 79910,64610, 77810,72110,66210,78710,87311,12511,128
19,24619.58919,43220,30319,46220,19320,29619,97220,39719,56719,78520,49419,72220,03520,42720,04619.59020,33419,99619,75921,24319,77221,30420,936
2,2512,5452,1531,418846864852
1,1531,2031,3831,6731,5001,303872445442562
1,1221,1222,0703,1104,3204,7885,8106,0446,4037,6098,2079,1499,8169,9649,6359,97410,84311,40011,77612, 61513,166
1 Total includes additions and alterations and nonhousekeeping units not shown separately.2 Office buildings, warehouses, stores, restaurants, and garages.3 Farm, institutional, public utilities, and all other private.4 New series differs from old in that it reflects differences in 1946 due to the new higher level series of hous-
ing starts and farm construction expenditures and the new reduced level value in place series for publicutility construction. See Construction Report C8O-61 (Supplement) for a description of the differences.
« Preliminary.8 Not available on a seasonally adjusted basis.
NOTE.—Data for Alaska and Hawaii included beginning 1959.
Source: Department of Commerce, Bureau of the Census.
250
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TABLE C-36.—Business expenditures for new plant and equipment, 7939 and 7945-66
[Billions of dollars]
Year or quarter
1939
19451946 - . . .194719481949
19501951 - .195219531954 _ _
19551956195719581959
19601961196219631964 . .
19653
1963: IIIIIIIV _ .
1964: I . -I IIIII V
1965: IIIIIIIV 3
1966: 13113
Total i
5.51
8.6914.8520.6122.0619.28
20.6025.6426.4928.3226.83
28.7035.0836.9630.5332.54
35.6834.3737.3139.2244.90
51.83
Manufacturing
Total
1.94
3.986.798.709.137.15
7.4910.8511.6311.9111.04
11.4414.9515.9611.4312.07
14.4813.6814.6815.6918.58
22.51
Dura-ble
goods
0.76
1.593.113.413.482.59
3,145.175.615.655.09
5.447.628.025.475.77
7.186.277.037.859.43
11.34
Non-durablegoods
1.19
2.393.685.305.654.56
4.365.686.026.265.95
6.007.337.945.966.29
7.307.407.657.849.16
11.18
Mining
0.33
.38
.43
.69
.88
.79
.71
.93
.98
.99
.98
.961.241.24
.94
.99
.99
.981.081.041.19
1.30
Transportation
Rail-road
0.28
.55
.58
.891.321.35
1.111.471.401.31.85
.921.231.40
.75
.92
1.03.67.85
1.101.41
1.68
Other
0.36
.57
.921.301.28.89
1.211.491.501.561.51
1.601.711.771.502.02
1.941.852.071.922.38
2.83
Publicutili-ties
0.52
.50
.791.542.543.12
3.313.663.894.554.22
4.314.906.206.095.67
5.685.525.485.656.22
6.84
Com-mer-cialand
other»
2.08
2.705.337.496.905.98
6.787.247.098.008.23
9.4711.0510.409.81
10.88
11.5711.6813.1513.8215.13
16.66
Seasonally adjusted annual rates
36.9538.0540.0041.20
42.5543.5045.6547.75
49.0050.3552.7554.85
56.70
58.85
14.8515.3015.9516.45
17.4017.8018.8520.15
20.7521.5523.0024.35
24.70
25.85
7.357.658.008.30
8.859.009.60
10.15
10.4010.8011.7512.20
12.40
13.25
7.507.658.008.15
8.558.809.20
10.00
10.4010.7011.2512.15
12.25
12.60
1.051.001.051.05
1.151.151.201.30
1.251.301.251.40
1.35
0.901.001.201.35
1.40L.25
501.55
.751.55L.70I 70
1.80
1.702.051.852.10
2.302.252.402.60
2.552.703.003.10
3.90
5.205.455.905.80
5.956.306.306.35
6.806.856.756.95
7.65
13.2513.3014.0514.50
14.3514.7515.4015.80
15.8516.4017.0017.30
17.3033.00
1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Estimates based on anticipated capital expenditures reported by business in late October and Novem-
ber 1965. The quarterly anticipations include adjustments, when necessary, for systematic tendencies inanticipatory data.
NOTE.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with theaverage of seasonally adjusted figures.
These figures do not agree precisely with the plant and equipment expenditures included in the grossnational product estimates of the Department of Commerce. The main difference lies in the inclusionin the gross national product of investment by farmers, professionals, institutions, real estate firms, and ofcertain outlays charged to current account.
These series are not available for years prior to 1939 and for 1940 to 1944.
Sources: Department of Commerce (Office of Business Economics) and Securities and ExchangeCommission.
251
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TABLE C-37.—New housing starts and applications for financing, 1929-65
[Thousands of units]
Year ormonth
1929
19301931193219331934
19351936193719381939
19401941194219431944
New Series19451946194719481949
1950 .1951.195219531954
19551956195719581959
196019611962. . _19631964
1965 8
Housing starts
Totalprivate
andpublic
(in-clud-ing
farm) *
- - - - - - -
1, 553.5
1,296.01,365.01,492.41,640.91, 590.8
1,540.7
Totalprivate
(in-clud-ing
farm)
1, 516. 8
1,252.11,313.01, 462.81,609.21, 557.4
1,503.0
Pri-vateand
publicnon-farm
509.0
330 0254.0134 093.0
126.0
221.0319.0336 0406.0515.0
602.6706.1356.0191.0141.8
326.11,023.21,268.51,362.11,466.1
1,951.91,491.01,503.91,437.61, 550. 5
1,646.01,349.11,223.91,382.01, 531.3
1,274.01,336.81,468. 71,613. 51, 563.8
1,518.3
Private nonfarm
Total i
509.0
330 0254.0134 093.0
126.0
215.7304.2332 4399.3458.4
529.6619.5301.2183 7138.7
324 91,015.21,265.11,344 01,429.8
1,908.11,419.81,445 41,402 11, 531.8
1,626 61,324.91,174 81,314.21, 494. 6
1,230.11,284.81,439.11, 581. 7I, 530.4
1,480.6
One-family
316.0
227 0187.0118 076.0
109.0
182.2238.5265 8316.4373.0
447.6533.2252.3136.3114.6
1,211.9
972.9946.4967.8993.2944.5
942.1
Twoor
morefami-lies
193.0
103 067.016 017.017.0
33.565.766 682.985.4
82.086.348.947.424.1
282.7
257.2338.6471.1588.5585.9
538.5
Totalprivate
(in-clud-ing
farm)
1, 516.8
1,252.11,313.01,462.81,609.21, 557.4
1,503.0
Private nonfarm
Total
509.0
330.0254.0134.093.0
126.0
215.7304.2332 4399.3458.4
529.6619.5301.2183.7138.7
324.91,015.21,265.11, 344. 01,429.8
1,908.11,419.81,445.41,402.11,531.8
1,626.61,324.91,174.81,314.21,494. 6
1,230.11,284.81,439.11, 581.71, 530.4
1,480.6
Govern-ment homeprograms
FHA
13.248.857 0
106.8144.7
176.6217.1160.2126.183.6
38.967.1
178.3216.4252.6
328.2186.9229.1216.5250.9
268.7183.4150.1270.3307.0
225.7198.8197.3166.2154.0
159.9
VA
«8.891.8
160.371.190.8
191.2148.6141.3156.5307.0
392.9270.7128.3102.1109.3
74.683.377.871.059.2
52.6
Newprivatehousing
unitsauthor-ized 2
—
- -
1,208.3
998.01,064.21,186.6
21,334.71,285.8
1,240.1
Proposedhome con-struction >
Ap-plica-tionsfor
FHAcom-mit-
ments
«20 647.849 8
131.1179.8
231.2288.5238.5144.462 9
56.6121.7286.4293.2327.0
397.7192.8267.9253.7338.6
306.2197.7198.8341.7369.7
242.4243.8221.1190.2182.1
188.9
Re-quests
forVAap-
prais-als
164.4226.3251.4535.4
620.8401.5159.4234.2234.0
142.9177.8171.2139.3113.6
102.1
See footnotes at end of table.
252
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TABLE C--37.-—New housing starts and applications for financing, 1929-65—Continued
[Thousands of units]
Year ormonth
1964: JanF e b — .Mar__.AprMay...June...July.-.AugSept-_.OctNov__.Dec
1965: JanFeb.—Mar__.AprM a y _ -June...July__.Aug..-_Sept . . .OctNov 6_ -Dec e...
Housing starts
Totalprivate
andpublic
(in-clud-ing
farm) i
101.7102.2133.5152.0158.3164.9
146.0145.7127.4146.1114.698.3
85.687.9
124.9154.9162.1162.3
143.9138.0125.9135.7117.6101.9
Totalprivate
(in-clud-ing
farm)
100.3101.3130.3148.2155.4159.4
143.5142.3124.0144.0112.096.7
81.585.4
120.7152.2157.5155.5
141.3134.6124.3133.6115.4101.0
Pri-vateand
publicnon-farm
100.499.7
131.8149.3156.0162.2
143.8143.2125.3143.5112.496.4
84.287.1
123.0152.8159.8159.6
141.6136.2124.3133.0116.3100.3
Private nonfarm
Total i
99.098.7
128.6145.5153.0156.7
141.2139.7121.9141.4109.994.8
80.184.7
118.8150.1155.2152.8
139.0132.8122.7130.9114.199.4
One-family
53.961.180.386.396.399.3
89.687.577.089.367.356.7
50.450.774.897.799.997.0
91.886.578.484.469.960.6
Twoor
morefami-lies
45.137.648.369.256.757.4
51.652.244.952.142.638.1
29.734.044.052.455.355.8
47.246.344.346.544.238.8
Totalprivate
(in-clud-ing
farm)
Private nonfarm
Total
Govern-ment homeprograms
F H A VA
Newprivatehous-
ingunits
au-thor-ized 2
Proposed
home con-struction *
Ap-plica-tionsfor
FHA
mit-ments
Re-quests
forVAap-
prais-als
Seasonally adjusted annual rates
1,7761,7501,593L, 5321,518L, 621
L, 500L, 5131,4451,5221,5051,610
1,4421,4821,4891,5521,5161,566
1,4731,4271,4531,4111,5371,746
1,7531, 7061,5711,5061,4961,593
1,4751,4891,4221,4951,4801,575
1,4171,4681,4651,5321,5011,539
1,4471,4091,4361,3801,5211,712
158192165146174152
145142136146152151
168171166147160154
151146154164171186
758368606160
565252505753
696969515654
514644465349
1,3241,4121,3791,2881,2801,305
1,2641,2851,2431,2361,2561,195
1,2801,2241,2691,1871,2401,254
1,2431,2171,1801,2591,2821,319
178193190190173177
162176174183194193
202203184190183155
168184187192229229
13813512411199
103
10988
121112118118
113124110
95109
93
92899897
105117
1 Military housing starts, including those financed with mortgages insured by FHA under Section 803of the National Housing Act, are included in publicly financed starts but excluded from total private startsand from FHA starts.
2 Data beginning 1963 cover approximately 12,000 permit-issuing places. Data for 1959-62 are based onreports from approximately 10,000 places. In 1963, the additional 2,000 permit-issuing places accountedfor almost 50,000 new privately owned housing unit authorizations.
3 Units in mortgage applications or appraisal requests for new home construction.< FHA program approved in June 1934; all 1934 activity included in 1935.5 Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.« Preliminary; data for 1965 partly estimated by Council of Economic Advisers.
NOTE.—Census series beginning 1945 include Alaska and Hawaii. FHA and VA series include Alaska,Hawaii, and Puerto Rico for all periods.
Seasonally adjusted Census data, and some of the unadjusted data, have been revised beginning April1960. See Housing Starts C20-65-5, May 1965 for the seasonally adjusted data.
Sources: Department of Commerce (Bureau of the Census), Federal Housing Administration (FHA),and Veterans Administration (VA), except as noted.
253795-983 O—66- -17
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TABLE C-38.—Sales and inventories in manufacturing and trade, 1947-65
[Amounts in millions of dollars]
Year or month
1947..1948-1949..
1950..1951..1952..1953..1954..
1955..1956-1957..1958-1959-
1960-1961-1962-1963-1964-
1965 « s
1964: JanF e b . . . .Mar . . . .AprMay. ._June
J u l y - . .Aug-_-S e p t . . .OctNov-_ _Dec . . . -
1965: J a n . . . .F e b . . . .Mar . . . .AprM a y . . .June- - -
J u l y . . .A u g —S e p t . . .OctNov.5_.Dec.s_.
Total manufactur-ing and trade
Sales i
35,26033, 788
38, 59643,35644,84047,98746, 443
51,69454,06355,87954,23359, 583
69,53060,74865,078 100,68,002 105,72,647
Inven-tories2
52, 50749,497
59, 82270,24272,37776,12273,175
79,51687,30489,05286,92291,964
94,61095,57600, 271,127
110,535
78,648 118, 296
Ratio 3
1.421.53
1.361.551.581.581.60
1.471.551.591.601.51
1.561.551.511.501.48
1.46
Manufacturing
Sales i
15,51317,31616,126
18,63421, 71422,52924,84323,355
26,48027,74028,73627,28030, 219
30,79630,88433,30834,77437,129
40,300
Inven-tories2
25,89728,54326,321
31, 07839,30641,13643,94841,612
45.06950,84251,87150.07052,707
53,81455,08757,75360,14762,944
67,100
Ratio 3
1.581.5"1.75
1.481.661.781.761.81
1.621.731.801.841.70
1.71.741.701.1.64
1.61
Merchantwholesalers
Sales1 Inven-tories2
6,514
7,6958, 5978,7829,052
9,89310,51310,47510, 25711,413
11,44011,62912,15812,69213,715
14,789
Ratio 3
7,9577,706
9,2849,88610, 21010,68610, 637
11,67813, 26012, 73012,73913,952
13,98314, 25114,58015,59716,461
17,684
1.131.19
1.07.16.12.17.18
.13
.19
.23
.24
.23
.21
.19
.18
.1
1.17
Retail trade
Sales i
10,20011,13511,149
12,;13,04613, 52914,09114, 095
15,32115,81116,66716, 69617,951
18,29418, 23419,61320,53621,802
23, 559
Inven-tories2
14,24116,00715,470
19,46021, 05021, 03121,48820,926
22,76923,40224,45124,11325,305
26,81326, 23827,93829,38331,130
33,533
Ratio 3
1.261.391.41
1.381.641.521.531.51
1.431.471.441.431.40
1.451.431.381.391.40
1.39
Seasonally adjusted
70,992 105, 55171, 013 105, 74670,649 106, 05671,787 106,"""72,660 10772,187
73,69373, 20473, 358 198;72,13173, 37176, 277
78,891
i, 722',083
107,270
107,372107, 613198, 504108, 539109, 320110, 535
111,465111, 884
032
75,91375,956 111,77,815 113,03277,529 113,77,884
!,761114,542
78,010 115,049
80, 023 116, 012116, 683
78,883 116,96779,502 117,65380,963 118, 296
1.491.491.501.491.471.49
1.461.471.481.501.491.45
1.471.471.451.471.471.47
1.451.481.481.481.46
36,67736,23536,22237.16737,18636, 791
37,96337.16837, 31236,81137, 51439,318
38, 88538,69340,28540,04439,81439,943
41,45240, 51840,17340, 54841, 447
60, 00660,12360,32660, 53160, 52860,398
60,48860, 76361,01961, 77762,37762, 944
63,21363,38263,70863,99964,26964,625
65,39465, 78866, 26766,64267, 079
1.1.1.671.631.1.64
1.591.631.641.1.661.60
1.631.641.581.601.611.62
1.581.621.651.641.62
13,31513,24513,20413, 22813,69713, 623
13, 79513, 77013,79213,93714,19614,178
14,12813,94614,72514,62014,71814,736
14.82814.82914,93614,99515, 503
15,81815, 71915, 73415,87916,05316, 043
16,01715, 98616,22216,27616, 38416, 461
16, 77416,86717,06417,21617,45017,410
17, 53017, 53517,65517, 71517,684
1.191.191.191.201.171.18
1.161.161.181.171.151.16
1.191.211.161.181.191.18
1.181.181.181.181.14
21, 00021, 53321,22321,39221,77721, 773
21,93522, 26622, 25421,38321, 66122, 7S1
22,90023,31722,80522,86523,35223,331
23, 74323, 54423, 77423,95924,01324,303
29,72729,90429,99630,31230,50230,829
30,86730,86431, 26330, 48630, 55931,130
31, 47831,63532,26032,54632,82333,014
33,36033,04533, 29633, 533
1.421.391.411.421.401.42
1.411.391.401.431.411.37
1.371.361.411.421.411.42
1.391.421.391.391.40
1 Monthly average shown for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly
sales; for monthly data, ratio of inventories at end of month to sales for month.* Where December data not available, data for year calculated on basis of no change from November.s Preliminary.
NOTE.—The inventory figures in this table do not agree with the estimates of change in business inven-tories included in the gross national product since these figures cover only manufacturing and trade ratherthan all business, and show i ventories in terms of current book value without adjustment for revaluation.
Data for Alaska and Hawaii included beginning 1958 for manufacturing, beginning 1960 for retail trade,and beginning 1961 for merchant wholesalers.
Source: Department of Commerce (Office of Business Economics and Bureau of the Census).
254
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T A B L E G—39.—Manufacturers' shipments and inventories, 1947-65
[Millions of dollars]
Year or month
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965 3
1964: Jan,_Feb.-Mar. .Apr. .May.June.
July_.Aug..Sept_Oct . .Nov.Dec_-
1965: Jan_.Feb . .Mar..Apr._May.June.
Total
JulyAugSeptOctNov4
Dec*. . . .
Shipments l
Dur-able
goodsindus-
tries
15,51317,31616,126
18,63421,71422, 52924,84323,355
26,48027,74028,73627,28030, 219
30,79630,88433,30834,77437,129
40,300
Non-durable
goodsindus-tries
6,6947,5797,191
8,84510,49311,31313, 34911,828
14,07114, 71515,23713, 57215,544
15,81715,53217,18418,07119,231
21,100
11,216 41,11,494 43,11. 527
Inventories 2
Total
8,819 25,8979, 738 28,5438,935 26,321
789 31,078 15,539221 39,306 20,991
23, 73125, 878
41,612 23,710
12,409 45,069 26,13. 025 50, 642 30,13,499 51,87113, 708 50,070 30,14,675 52, 707 31
15, 35216,124
Durable goods
Total
13,06114,66213,060
4051,447
31, 7281,095,839
14,979 53,814 32,360
16,704160,
55,087132,64657, 753;34,326
36,02817,898 62,944 38,412
19, 200 67,100 41, 800
Mate-rialsandsup-plies
8,9667,894
9,19410,41710,6089,84'
10,585
10,28610,23410,57110, 87911,688
12, 900
Work
10,7209, 721
10,75612,31712,83712,29412,952
12,78013, 22514,12914,85715, 933
17,700
Fin-ishedgoods
Total
12,836
Nondurable goods
,13,88113,26115,53918,31517,405
206 18,070040 17,902
6,348 18, 664565 20,195125 20,143749 19,975143 20,868
1,4542,4413427
9,9,088 22,9, 593 23,427
10, 292 24,11910, 791 24,532
11,200 25,300
Mate-rialsandsup-plies
8,3178,167
8,5568,9718,7758,6719,089
9,1139,5119, 7709,7699,619
9,800
Work
2,4722,440
2,5712, 7212,8642,8002,928
2,9353,1203,3043,4793, 522
3,800
Fin-ishedgoods
7,4097,415
7,6668, 6228,6248,4988,857
9,3539, 70710,24610.87111,391
11,700
Seasonally adjusted
36,67736,23536,22237.16737,18636,791
37,96337.16837,31236,81137,51439, 318
38, 88538, 69340, 28540,04439, 81439,943
41, 45240, 51840,17340, 54841,447
19,14419,02718,88719,35919,13819,023
19,86119,16419,28418,63319,29120, 559
20, 41520,37421, 28420,91520, 51320,652
21,82021,19120,92421,14621,61021, 884
533 60,006208 60,123335 60,326808 60, 531
35,97035,96036,07936,277
048 60, 528 36,300398 36,492
17,
r17,17,18,17, 768 W,18,102 60, 488 36,18,004 60, 763 36,18,02818,178 6118,22318,7."759 62,
61,019 3'" . 777:,3712,944
i, 597i,79017,03737,517
7 38,04038,412
18, 470 63, 213 38,18,319 63,19, 00119,129 63,999 39,19,30119, 291 64; 625 39,
63,38263, 708
19, 632 65,394 40,19, 327 65,788 40,19, 249 66, 267 4119,402 66,64219,837
1,49538,69238, 972' 1,233
64, 269 39,4751,951
>, 6001,814,300
41,52367,079 41,807
10.82710,79210,81710, 83010.828io, r •
10, 87010,91711,07211,27711,50011, 688
11,80211,87612,06812,40612,51212, 537
12,66412,67212,81212, 88612,880
14,83314,88015,00115,11215,12715,211
15,32515,44215,49715, 62215,79915,933
15. 93416,00816,04116,11416,16216,533
17,05317, 28317,38017, 50217,730
10,31010, 28810,26110,335 24;10,34510,415 23;
24,03624,16324,247" :, 25424,2281,906
10,402 23,10,43110,46810,61810,74110, 791
t, 89123,97323,98224,26024,33724, 532
10, 75910,808 24i10, 863 24,10, 713 2410, 80110,881
24,718\, 690t, 7361,766
24, 79424,674
10, 883 24, 79410,859 24, "•11,108 24,ll
1,9741,967
25,11911,197 25,272
9,6669,6619,6329,5349,5289,432
9,2939,3519,4129,5659,6379,619
9,5859,5419,5579,6609,6759,608
9.5379,6459,7669,7699,799
3,4523,4033,4463,4593,4523,422
3,4063,4263,4573,5083,4973,522
3,5323,5313,5333,5333,5583,611
3,5913,6623,7023,8253,834
10,91811,09911,16911,26111,24811,052
11,19211,19611,11311,18711,20311,391
11, 60111,61811,64611,57311,56111,455
11,66611, 66711,49911,52511,639
1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.3 Preliminary estimates.4 Preliminary.
NOTE.—Data for Alaska and Hawaii included beginning 1958.
Source: Department of Commerce, Bureau of the Census.
255
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TABLE C-40.—Manufacturers' new and unfilled orders, 1947-65
[Amounts in millions of dollars]
Year or month
1947--1948--1949-.
1950..1951..1952-.1953-1954-.
1955-.1956--1957-.1958-.1959-.
I960-,1961-.1962-.1963--1964_-
1965 *.
1964: J an . . .F e b . .Mar..Apr..May_June..
July..Aug..Sept..Oct...Nov_.D e c .
1965: Jan...Feb. .Mar..Apr..May..June..
July..Aug_.Sept..Oct. .
Decs.
Total
15,25617,69215,614
20,11023,90723,20323,53322,313
27,42328,38327, 51426,90130,679
30,11531,06133,16735, 03637, 697
41,100
37,14836,65736,54738,18437,89337,782
39,31537,50938,01837,84637, 72039,590
39,70439, 46940, 71241,12040,18140, 689
41, 84640, 92641, 48341,84342,266
New orders l
Durable goods
Total
6,3888,1266,633
10,16512,84112,06112,10510, 743
14,95415,38114,07313,17015,951
15,22315, 66417,08518,30019,803
21,800
Machin-ery andequip-ment
2,0841,770
2,4992,8702,5662,3542,878
2,7912,8543,0903,3263,706
4,100
Non-dura-ble
goods
9,5668,981
9,94511,06611,14211,42811,570
12,46913,00213,44113,73114, 728
14, 89215,39716, 08216, 73617, 895
19,300
Unfilled orders 2
Total
34,26630,55223,877
41,16666,86275,47860,34648,195
60, 04467,4 7353, 25148,78554,101
45, 82047, 86846, 24249,14955,962
64,100
Dura-ble
goods
28,37926,45919,504
35,22263,07772,31757,85445,233
56,36964,06750,46445,70950,428
43,18744,81843,66646,19353, 042
60,800
Non-dura-ble
goods
5,8874,0934,373
5,9443,7853,1612,4922,962
3,6753,4062,7873,0763,673
2,6333,0502,5762,9562,920
3,300
Unfilled orders-ship-ments ratio 3
Total
3.42
3.633.873.35
2.522.442.362.45
2.66
Dura-ble
goods
4.12
4.274.554.00
3.012.942.852.96
3.23
Non-dura-
blegoods
0.96
1.121.04.85
Seasonally adjusted
19,74019,49919,26220,46119,94520,016
21,25419,34219,90719, 62319,45420, 720
21,27121,13021, 71422,04320,99221,310
22,19521, 50922,16322,42522,40622, 501
3,6173,4133,4553,6103,9293,916
3,7743,7723,6863,7863,8823,917
3,9583,7994,0244,0784,0694,091
4,3484,1594,1534,2494,2984,281
17,40817,15817,28517, 72317,94817,766
18,06118,16718,11118,22318,26618,870
18,43318, 33918, 99819,07719,18919, 379
19, 65119, 41719, 32019,41819,860
50,08350, 58650,69751,67952, 00452,833
54,07554,21655,04256,06756,36357,044
57, 31758,16058, 59559,46359,89760, 588
60, 98161,39162, 69963,99364,810
47,07247,64447,80548,84049,22550,037
51,30251,36652,13553,13753,40653,958
54,28055,09255, 53156,37456,87557, 454
57,83058,14859, 38560,66461,45862,075
3,0112,9422,8922,8392,7792,796
2,7732,8502,9072.9302,9573,086
3,0373,0683,0643,0893,0223,134
3,1513,2433,3143,3293,352
2.332.392.392.382.392.46
2.402.512.502.542.532.45
2.482.532.462.512.562.58
2.482.572.662.692.66
2.802.862.882.882.912.98
2.923.043.023.083.082.96
3.013.072.983.043.133.15
3.023.123.233.283.23
.76
.65
.66
.61
.62
0.65.65.63.60.57.60
.56
.60
.61
.60
.60
.61
.60
.61
.59
.60
.57
.60
.58
.62
.64
.63
.62
1 Monthly average for year and total for month.2 End of period.3 Ratio of shipments for period to unfilled orders at end of period. Annual figures relate to seasonally
adjusted data for December.4 Preliminary estimates.5 Preliminary.
NOTE.—Data for Alaska and Hawaii included beginning 1958.
Source: Department of Commerce, Bureau of the Census.
256
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PRICES
TABLE C-41 .— Wholesale price indexes, by major commodity groups, 1929-65[1957-59=100]
Year or monthAll
com-modi-ties
Farmprod-ucts
Proc-essedfoods
All commodities other than farm productsand foods (industrials) *
Total
Textileprod-uctsand
apparel
Chemi-calsand
alliedprod-ucts
Rubberand
rubberprod-ucts
Lumberand
woodprod-ucts
1929.
1930.1931.1932_1933.1934.1935_1936-1937.1938.1939.
1940.1941 _1942.1943.1944_1945.1946.1947.1948.1949.
1950.1951_1952.1953.1954_1955.1956.1957.1958.1959.
1960.1961.1962,1963.1964.1965 2
1964: J a n . .F e b . .Mar..Apr..May..June-July..Aug..Sept.Oct--Nov_.Dec_.
1965: Jan..Feb..Mar_.Apr..May..June-July. .Aug..Sept.-Oct —Nov..Dec2_
52.1
47.339.935.636.141.043.844.247.243.042.2
43.047.854.056.556.957.966.181.287.983.5
86.896.794.092.792.993.296.299.0
100.4100.6
100.7100.3100.6100.3100.5102.5
101.0100.5100.4100.3100.1100.0
100.4100.3100.7100.8100.7100.7
101.0101.101.3101.7102.1102.8
102.9102.9103.0103.1103.5104.1
63.9
54.039.629.431.339.948.049.452.741.939.9
41.350.164.674.875.378.390.6
109.1117.1101.3
106.4123.8116.8105.9104.497.996.699.2
103.697.2
96.996.097.795.794.398.4
96.394.595.294.493.793.2
94.193.695.793.894.092.7
93.094.595.497.698.4"
100.3
100.099.199.599.4
100.3103.0
54.349.541.633.933.739.648.346.448.642.340.2
40.446.754.857.256.056.471.791.198.488.8
92.6103.3100.997.097.694.394.397.9
102.999.2
100.0100.7101.2101.1101.0105.1
102.5100.9100.5100.499.4
100.2
101.2101.0102. 2101.7100.9100.8
102.2102.1101.8102.3103.3106.1
106.6106.7106.7106.9107.6109.4
51.748.142.439.740.244.244.044.948.146.146.0
46.850.353.954.755.656.361.775.381.780.0
82.991.589.490.190.492.496.599.299.5
101.3
101.3100.8100.8100.7101.2102.5
101.3101.2101.1101.1101.1100.9
101.1101.1101.1101.5101.6101.8
101.9101.9102.0102.1102.3102.5
102.5102.7102. 7102.8103.2103.2
67.860.349.841.248.654.753.353.757.350.152.3
55.463.772.873.173.975.187.3
105.7110.3100.9
104.8116.9105.5102.8100.6100.7100.7100.898.9
100.4
101.599.7
100.6100.5101.2101.8
101.2101.2101.2101.1101.2101.0
101.1101.2101.2101.4101.4101.5
101.5101.5101.5101.5101.6101.9
101.9101.9102.1102.0101.9102.0
0)0)0)0)46.648.850.951.253.651.050.751.656.162.363.163.864.269.492.294.486.2
87.5100.195.096.197.396.997.599.6
100.4100.0
100.299.197.596.396.797.4
96.396.496.596.696.796.5
96.997.197.2
97.397.597.597.697.697.4
97.497.197.297.697.597.6
57.650.442,837.139.045.545.849.458.157.159.3
55.359.669.471.370.468.368.668.370.568.3
83.2102.192.586.387.699.2
100.6100.2100.199.7
99.996.193.393.892.592.9
93.793.693.993.192.691.6
91.891.891.992.192.292.2
92.392.292.292.392.993.1
93.093.293.393.493.593.5
26.4
24.119.616,920.023.522.623.627.925.426.1
34.537.539.742.843.449.777.488.581.9
94.1102. 599.599.497.6
102.3103.898.597.4
104.1
100.495.996.598.6
100.6101.1
99.099.9
101. 0101.8101.8101.4
101.2100. 9100. 6100.399.699.4
100. 8100.8100.7100.5100. 4100.3
100. 5101.8102. 0101.6101.6101.9
* See following page for other items.See footnotes at end of table.
257
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TABLE G-41.—Wholesale price indexes, by major commodity groups, 1929—65—Continued[1957-59=100]
Year or month
All commodities other than farm products and foods (industrials)—Continued
Hides,skins,
leather,and
leatherprod-ucts
Fuelsand
relatedprod-ucts,and
power
Pulp,paper,
andalliedprod-ucts
Metalsand
metalprod-ucts
Machin-ery andmotiveprod-ucts
Furni-tureand
otherhouse-holddura-bles
Nonme-tallic
mineralprod-ucts
Tobaccoproducts
andbottledbever-ages
Miscel-laneousprod-ucts
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 «
1964: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1965: JanFebMarAprMayJune
JulyAugSeptOctNovDec 2
56.6
52.044.738.042.044.946.549.554.348.249.6
52.356.161.161.060.561.370.796.597.592.5
99.9114.892.894.189.989.594.894.996.0
109.1
105.2106.2107.4104.2104.6109.2
102.7102.5102.5104.5104.7104.8
105.4105.6105.4106.0105.5105.4
104.9105.1105.7106.3107.4107.7
108.8112.2111.3113.3113.6114.3
61.5
58.250.052.149.354.354.556.557.556.654.2
53.256.658 259^961.662.366.779.793.889.3
90.293.593.395.994.694.597.4
102.798.798.7
99.6100.7100.2
99.599.097.096.196.496.3
96.796.495.296.797.698.1
98.597.997.997.698.498.7
98.799.099.299.4
100.3100.6
0)
(00)C1)0)0)0)0)0)0)0)0)0)C1)0)i})0)0)75.378.675.2
77.191.389.088.788.891.197.299.0
100.1101.0
101.898.8
100.099.299.0
99.999.399.198.798.7
98.798.798.799.198.998.9
99.099.099.599.8
100.0100.0
99.999.9
100.0100.5100.8100.9
44.1
39.735.732.833.637.137.037.843.241.641.2
41.442.242.842.742.743.448.560.268.569.0
72.780.981.083.684.390.097.899.799.1
101.2
101.3100.7100.0100.1102.8105.7
101.7101.8102.0102.2102.1102.3
102.5103.0103.0103.8104.3104.7
104. 5104.6104.8105.2105.7105.9
105.8106.2106.2106.3106.7106.6
0)
0)
00)0)0)0)43.7
44.245.847.747.447.447.853.661.867.571.2
72.679.581.282.283.285.892.197.7
100.1102.2
102.4102.3102.3102.2102.9103.7
102.5102.5102.7102.9103.3103.0
103.1102.9102.9103.0103.2103.1
103.3103.5103.5103.7103.7103.8
103.7103.8103.8103.9104.1104.1
56.4
55.551.145.045.149.048.649.354.753.453.2
54.457.862.562.163.863.967.877.882.583.8
85.692.891.192.993.994.396.999.4
100.2100.4
100.199.598.898.198.598.0
98.498.598.5
98.5
98.698.698.698.598.598.4
98.398.298.398.098.098.0
97.897.797.797.898.098.1
53.4
53.249.746.549.252.652.652.753.952.251.2
51.252.454.554.755.858.161.869.174.776.7
78.683.583.586.988.891.395.298.999.9
101.2
101.4101.8101.8101.3101.593.3
101.1101.2101.1101.3101.3101.4
101.5101.7101.8101.8101.8101.6
101.7101.8101.9101.9101.9102. G
101.7101. 6101.6101.6101.6101.6
67.4
67.867.263.356.659.259.159.059.559.459.4
60.160.861.564.664.966.769.875.678.279.6
80.585.187.0
94.695.198.099.7
102.2
102.5103.2104.1106.1107.4107.7
107.6107.1107.1107.1107.3107.4
107.3107.5107.51C7.6107.5107.5
107.5107.6107.5107.8108.1107.6
107.6107.6107.7107.7107.7107.9
0)0)0)(00)0)0)(00)0)0)(00)(00)0)0)0)108.7111.2103.5
104.1113.1116.7105.4110.599.198.196.6
101.5101.9
103.9107.3110.4109.2111.0
112.6110.9109.8109.5107.2106.7
107.5107.3109.2110.1108.5110.7
110.01C9.6109.5110.3108.9,111.0
112.6111.5111.5111.2113.2112.5
1 Not available.2 Preliminary.Source: Department of Labor, Bureau of Labor Statistics.
258
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-42.— Wholesale price indexes•, by stage of processing, 1947-65
[1957-59=100]
Year ormonth
19471948 . .1949
195019511952 _19531954
1955195619571958 - -1959
19601961196219631964
1965 4
1964: JanFebMarAprMayJune
JulyAug _Sept. . . .OctNovDec
1965: Jan. .FebMarAprMayJune
July.....AugSeptOctNovD e c 4 . . .
Allcom-modi-ties
81.287.983.5
86, 896.794.092 792.9
93.296.299.0
100.4100.6
100.7100.3100.6100.3100.5
102.5
101.0100.5100.4100.3100.1100.0
100.4100.3100.7100.8100.7100.7
101 0101.2101.3101.7102.1102.8
102.9102.9103.0103.1103.5104.1
Total
100.8110.595.6
104.2119.6109.9101.5100.6
96.797.299.4
101.699.0
96.696.197.195.094.1
98.9
95.194.094.394.293.592.4
93.894.195.794.394.094.0
94.295.595.896.998.3
100.6
100.5100.8100.0100.1100.8103.1
Crude materials
Food-stuffsandfeed-stuffs
113.0122.2101.5
108.9126.0118.6106 2106.2
96.294.298.4
104.297.4
96.294.996.894 091.9
98.3
94.092.292.592.191.389.6
91.591.794.491 891.090.6
91.893.593.995.497.3
101.0
100.9101.1100.0100.1100.7104.1
Non-food
ma-terials.except
fn*»liuei
86.596.287.5
100.0115.399.995.693.8
99.1102.8101.497.6
101.0
96.897.997.496 297.8
99.8
96.696.697.197.997.397.5
97.597.997.798 599.199.6
98.398.799.099.7
100.299.8
99.6100.099.9
100.1100.7101.3
Fuel
73.687.086.5
86.187.788.391.487.3
87.193.398.699.8
101.6
102.5102.3101.8103.0102.5
103.2
104.5105.1103.2101.099.999.8
101.7102.3101.9102 7103.8104.2
103.5104.3103.6101.5101.5101.7
101.9102.7103.7104.3104.8105.4
Intermediate materials, supplies, and components* l
Total
76.582.779.4
83.093.090.390.891.3
93.097.199.499.6
101.0
101.0100.3100.2100.5100.9
102.2
101.3101.2100.9100.9100.6100.3
100.5100.4100.6101 1101.1101.4
101.6101.6101.6101.8101.9102.2
102.3102.4102.5102.6103.0103.0
Materials and components for
Total
75.581.578.0
81.892.788.890 290.4
92.696.999.399.7
101.0
101.099.899.299.4
100.4
102.0
100.6100.4100.4100.4100.2100.0
100.0100.1100.2100 8101.0101.0
101.5101.4101.5101.6101.7101.9
102.0102.1102.2102.4102.5102.6
manufacturing
Ma-terials
forfood
manu-factur-
ing
102.6105.891.0
94.7105.5101.4101.6100.7
97.597.999.7
102.098.3
99.5102.6100.5105.5104.0
106.6
109.1106.2104.4104.2102.5101.7
102.1102.1102.8103 8104.3105.0
106.3106.3105.6105.8104.9105.9
106.2106.5106.9107.5108.1108.8
Ma-terials
fornon-du-
rablemanu-factur-
ing
94.099.590.7
95.2110.399.398 596.9
97.398.8
100.199.1
100.8
100.898.698.097.197.8
98.7
97.697.697.897.897.897.6
97.697.597.698. 098.298.3
98.598.598.598.698.798.7
98.798.798.798.998.898.9
Ma-terials
fordu-
rablemanu-factur-
ing
58 866.468.2
72.180.180.383 985.7
90.095.798.899.5
101.8
101.9100.5100.4100.5102.5
104.6
101.8101.9102.3102.4102.3102.3
102.4102.5102.5103 2103.3103.4
103. 7103.9104.0104.2104.6104.8
104.8105.0105.1105.1105.3105.2
Com-po-
nentsfor
manu-factur-
ing
63.068.069.3
71.981.681.883 383.7
87.495.499.199.9
101.1
100.699.698.898.899.7
101.3
99.599.699.799.999.999.4
99.399.399.4
100 0100.3100.3
100.4100.5100.5100.7101.2101.4
101.4101.6101.6101.9102.2102.3
Ma-terialsandcom-po-
nentsforcon-
struc-tion
69.677.077. 2
81.288.888.289.790.1
93.798.599.199.1
101.8
101.199.799.399.6
100.6
101.4
100.1100.3100.4100.7100.7100.6
100.6100.6100.6100 7100.7100.7
100.9100.9100.9101.0101.2101.2
101.3101.7101.7101.7101.8101.9
*See following page for other items.See footnotes at end of table.
259
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-42.— Wholesale price indexes, by stage of processing, 1947—65—Continued
[1957-59=100]
Year or month
Finished goods
Total
Consumer finished goods
Total Foods
Othernon-
durablegoods
Du-rablegoods
Special groups of industrialproducts
Pro-ducer
finishedgoods
Crudemate-rials 2
Inter-mediate
materials,supplies,and com-ponents 3
Con-sumer
finishedgoods ex-cluding
foods
1947--.19481949
19501951195219531954
19551956195719581959
I960..1961196219631964
1965 4
1964: Jan...Feb. .Mar..Apr..May.June.
July.Aug..Sept.Oct..Nov..D e c .
1965: Jan..Feb..Mar.Apr..May-June.
July.Aug.Sept.Oct..Nov.Dec4
80.186.484.0
85.593.693.092.192.3
92.595.198.6
100.8100.6
101.4101.4101.7101.4101.8
103.6
102.1101.6101.5101.3101.3101.7
102.1101.9102.1102.1102.1101.9
102.3102.3102.4102.8103.2103.9
104.0103.8104.1104.3104.7105.3
86.192.688.3
89.898.297.095.495.3
94.796.198.9
101.0100.1
101.1100.9101.2100.7100.9
102.8
101.5100.8100.7100.3100.2100.8
101.2100.9101.3101.2101.1100.8
101.2101.2101.4101.9102.3103.2
103.4103.1103.5103.7104.2104.9
90.799.091.0
92.8104.2103.397.997.1
94.794.597.8
103.598.7
100.8100.4101.3100.1100.6
104.5
101.499.9
100.299.798.9
100.7
101.4100.9102.2101.4100.999.9
100.8100.9101.3102.6103.5105.6
106.0105.3106.1106.3107.2108.9
86.592.088.2
89.696.594.195.095.3
95.897.799.999.3
100.8
101.5101.5101.6101.9101.6
102.8
102.4102.1101.5101.1101.3101.2
101.5101.4101.0101.6101.9102.1
102.3102.2102.2102.2102.5102.6
102.7102.8103.0103.3103.6103.7
75.981.183.2
84.189.790.491.191.8
92.895.998.7
100.1101.3
100.9100.5100.099.599.9
99.6
99.599.699.699.7
100.1100.0
100.199.999.9
100.099.999.9
99.899.799.799.799.699.7
99.699.599.599.599.599.6
61.867.470.7
72.479.580.882.183.1
85.692.097.7
100.2102.1
102.3102.5102.9103.1104.1
105.4
103.5103.7103.8103.9104.3104.1
104.3104.3104.2104.3104.6104.5
104.9105.0105.1105.3105.3105.4
105.4105.5105.5105.6105.9106.0
79.292.584.0
93.6102.993.192.488.0
96.6102.3100.996.9
102.3
98.397.295.694.397.1
100.9
94.994.995.296.295.695.9
96.698.398.199.199.8
100.6
99.099.499.7
100.1101.0100.5
100.4101.7101.3102.0102.7102.6
73.479.877.8
81.491.288.389.489.8
92.597.099.699.4
101.0
101.4100.199.999.6
100.2
101.5
100.1100.2100.2100.2100.199.9
100.0100.099.9
100.4100.5100.6
100.8100.8100.9101.1101.4101.5
101.5101.7101.8101.9102.1102.2
83.188.486.5
87.894.292.993.794.1
94.897.199.599.6
100.9
101.3101.2101.0101.0100.9
101.7
101.4101.2100.8100.6100.8100.7
100.9100.8100.6101.0101.1101.3
101.4101.3101.3101.3101.5101.6
101.6101.6101.8102.0102.2102.3
1 Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies.2 Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.3 Excludes intermediate materials for food manufacturing and manufactured animal feeds.4 Preliminary.
NOTE.—For a listing of the commodities included in each sector, see Table 2B, Wholesale Prices and PriceIndexes, 1962 (BLS Bulletin 1411).
Source: Department of Labor, Bureau of Labor Statistics.
260
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-43.—Consumer price indexes, by major groups, 1929-65
For city wage earners and clerical workers
[1957-59= 100]
Year or month
192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964 319651964: Jan 3
FebMarAprMayJuneJulyAugSeptOctNovDec
1965: JanFebMarAprMayJuneJulyAugSeptOctNovDec
Allitems
59.758.253.047.645.146.647.848.350.049.148.448.8
. 51.356.860.361.362.768.077.883.883.083.890.592.593.293.693.394.798.0
100.7101.5103.1104.2105.4106.7108.1109.9107.7107.6107.7107.8107.8108.0108.3108.2108.4108.5108.7108.8108.9108.9109.0109.3109.6110.1110.2110.0110.2110.4110.6111.0
Food
55.652. 943.636.335.339.342.142.544.241.039.940.544.251.957.957.158.466.981.388.284.785.895.497.195.695.494.094.797.8
101.9100.3101.4102.6103.6105.1106.4108.8105.8106.0105.7105.7105.5106.2107.2106.9107.2106.9106.8106.9106.6106.6106.9107.3107.9110.1110.9110.1109.7109.7109.7110.6
Housing
Total
(2)(2)(2)(2)(2)(2)56.357.159.160.159.759.961.464.264.966.467.569.374.579.881.083.288.289.992.393.494.195.598.5
100. 2101.3103.1103.9104.8106.0107.2108.5106.9106.9107.1107.0106.9107.1107.1107.2107.4107.6107.7107.8108.1108.2108.2108.2108.2108.2108.3108.2108.6109.0109.2109.4
Rent
85.483.178.770.660.857.056.958.360.962.963.063.264.365.765.765.966.166.568.773.276.479.182.385.790.393.594.896.598.3
100.1101.6103.1104.4105.7106.8107.8108.9107.3107.5107.5107.7107.7107.8107.8107.9107.9108.2108.3108.4108.4108.5108.7108.8108.8108.8108.9109.0109.1109.2109.3109.5
Ap-parelandup-
keep J
55.354.149.243.642.146.146.546.949.349.048.348.851.159.662.266.770.176.989.295.091.390.198.297.296.596.395.997.899.599.8
100.6102.2103.0103.6104.8105.7106.8105.0105.1105.3105.6105.7105.7105.5105.3105.9106.2106.4106.6105.6105.8106.0106.3106.8106.9106.1106.4107.2107.8108.1108.1
Trans-porta-tion
(2)(2)(2)(2)(2)(2)49.449.850.651.049.849.551.255.755.555.555.458.364.371.677.079.084.089.692.190.889.791.396.599.7
103.8103.8105.0107.2107.8109.3111.1109.4108.6108.9109.0109.1109.2109.4109.3108.9109.4110.0110.5111.1110.6110.6111.0111.4111.2111.5111.0111.0111.2111.5111.6
Medi-cal
care
(2)(2)(2)(2)(2)(2)49.449.650.050.250.250.350.652.054.556.257.560.765.769.872.073.476.981.183.986.688.691.895.5
100.1104.4108.1111.3114.2117.0119. 4122.3118.2118.5118.7119.0119.1119.3119.5119.8119.7119.9120.2120.3120.6121.0121.4121.6121.8122.2122.7122.8122.8123.0123.4123.7
Per-sonalcare
(2)(2)(2)(2)(2)(2)42.643.245.746.746.546.447.652. 257.661.763.668.276.279.178.978.986.387.388.188.590.093.797.1
100.4102.4104.1104.6106.5107.9109.2109.9108.5108.4108.7108.7108.9109.1109.3109.4109.5109.7109.7110.0110.0110.1110.4110.7111.0111.0108.7109.0109.2109.2109.6110.0
Read-ing an drecrea-tion
(2)(2)(2)(2)(2)(2)50.251.052.554.354.455.457.360.065.072.075.077.582.586.789.989.392.092.493.392.492.193.496.9
100.8102.4104.9107.2109.6111.5114.1115.2113.1113.3113.6114.0114.1114.0114.1114.2114.3114.5114.9114.9115.0115.2115.4115.9115.9115.7114.6114.3114.8115.2115.4115.4
Othergoodsand
services
(52.752.654.054.555.457.158.259.963.064.767.369.575.478.981.282.686.190.692.894.394.395.898.599.8
101. 8103.8104.6105.3107.1108.8111.4108.3108.4108.5108.6108.7108.7108.9108.9109.0109.1109.1109.2109.3109.4109.5110.3110.6111.0111.5112.6112.7113.3113.3113.4
1 Not comparable to previous "apparel" series; index revised to include laundry and drycleaning;formerly included in housing group; indexes prior to 1953 estimated.2 Not available.3 New series, beginning January 1964. For details, see Department of Labor release, Major Changes inthe Consumer Price Index, March 3,1964.
Source: Department of Labor, Bureau of Labor Statistics.
261
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—44.—Consumer price indexes, by special groups, 1935-65
For city wage earners and clerical workers
[1957-59=100]
Year or month
19351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
19601961196219631964219651964: Jan «.
Feb.Mar..Apr..May.June.
July.Aug.Sept.Oct..Nov.Dec .
1965: Jan. .Feb.Mar.Apr.May.June.
July.Aug.Sept.Oct..Nov.Dec.
Allterns
47.848.350.049.148.4
48.851.356.860.361.362.768.077.883.883.0
83.890.592.593.293.693.394.798.0
100.7101.5
103.1104.2105.4106.7108.1109.9
107.7107.6107.7107.8107.8108.0
108.3108.2108.4108.5108.7108.8
108.9108.9109.0109.3109.6110.1
110.2110.0110.2110.4110.6111.0
Allitemslessfood
52.553.054.955.555.1
55.356.960.962.665.066.569.475.881.382.1
83.188.490.592.392.893.194.797.9
100.1102.0
103.7104.8106.1107.4108.9110.4
108.4108.4108.6108.6108.7108.8
108.8108.9109.0109.2109.5109.6
109.8109.8109.9110.1110.3110.3
110.2110.2110.6110.9111.2111.3
Allitemslessshel-ter
46.146.748.246.846.0
46.349.155.359.560.562.168.479.485.684.1
84.791.893.693.993.993.494.797.8
100.7101.5
103.0104.2105.4106.7108.0109.6
107.6107.5107.5107.7107.7107.9
108.2108.1108.2108.3108.5108.6
108.6108.6108.7109.1109.4110.0
110.1109.8110.0110.2110.4110.8
Commodities
Allcom-modi-ties1
45.045.647.445.644.7
45.148.255.260.160.862.669.483.489.487.1
87.695.596.796.495.594.695.598.5
100.8100.9
101. 7102.3103.2104.1105.2106.4
104.9104.8104.8104.9104.8105.0
105.3105.2105.4105.5105.6105.7
105.6105.5105.6105.9106.2106.9
106.9106.6106.6106.9107.1107.4
Food
42.142.544.241.039.9
40.544.251.957.957.158.466.981.388.284.7
85.895.497.195.695.494.094.797.8
101.9100.3
101.4102.6103.6105.1106.4108.8
105.8106.0105.7105.7105.5106.2
107.2106.9107.2106.9106.8106.9
106.6106.6106.9107.3107.9110.1
110.9110.1109.7109.7109.7110.6
Commodities less food
Alii
50.250.853.053.052.1
52.455.061.263.867.370.074.483.990.389.0
88.995.696.496.695.694.995.998.899.9
101.2
101.7102.0102.8103.5104.4105.1
104.3104.1104.3104.3104.3104.3
104.3104.2104.3104.6104.8104.9
104.9104.7104.8105.0105.2105.1
104.7104.7104.9105.3105.6105.7
Dura-ble i
47.147.850.851.750.6
50.253.760.963.068.773.977.483.890.091.3
92.399.3
100.199.597.195.395.498.5
100.0101.5
100.9100.8101.8102.1103.0102.6
102.9102.9102.9102.9102.8102.9
102.9102.8102.8103.1103.5103.4
103.6103.3103.2103.0102.9102.6
102.3101.8101.7102.1102.4102.4
Non-dura-ble
48.849.251.250.950.1
50.652.858.460.964.066.371.181.788.086.3
86.292.793.294.094.494.496.599.199.8
101.0
102.6103.2103.8104.8105.7107.2
105.6105.3105.6105.6105.7105.6
105.6105.6105.8106.0106.1106.3
106.1106.1106.2106.8107.2107.3
106.9107.1107.7108.0108.3108.4
Allserv-ices l
52.252.854.455.455.5
55.756.458.259.360.761.562.765.369.472.6
75.078.982.486.088.790.592.896.6
100.3103.2
106.6108.8110.9113.0115.2117.8
114.2114.3114.5114.8114.9115.1
115.3115.4115.5115.7116.0116.2
116.6116.9117.0117.3117.5117.6
117.8117.9118.5118.7119.0119.3
Services
Rent
56.958.360.962.963.0
63.264.365.765.765.966.166.568.773.276.4
79.182.385.790.393.594.896.598.3
100.1101.6
103.1104.4105.7106.8107.8108.9
107.3107.5107.5107.7107.7107.8
107.8107.9107.9108.2108.3108.4
108.4108.5108.7108.8108.8108.8
108.9109.0109.1109.2109.3109.5
Allserv-iceslessrent1
49.349.049.549.949.9
50.050.652.855.257.959.161.264.368.071.4
73.477.881.584.987.489.491.996.1
100.2103.6
107.4110.0112.1114.5117.0120.0
116.0116.0116.3116.5116.6116.8
117.0117.2117.4117.6117.9118.2
118.6118.9119.1119.3119.5119.7
120.0120.0120.7121.0121.3121.6
i Indexes have been revised to reflect transfer of home purchase from services to durable commodities;indexes prior to 1956 estimated. For details, see Department of Labor release, Major Changes in the Con-sumer Price Index, March 8,1964.8 New series beginning January 1964.
Source: Department of Labor, Bureau of Labor Statistics.
262
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY SUPPLY, CREDIT, AND FINANCE
TABLE C-45.—Money supply, 1947-65
[Averages of daily figures, billions of dollars]
Year and month
1947: Dec_1948: Dec_1949: Dec.
1950: Dec.1951: Dec.1952: Dec.1953: Dec.1954: Dec.
1955: Dec...1956: Dec...1957: Dec...1958: Dec...1959: Dec...1960: Dec...1961: Dec...1962: Dec...1963: Dec...1964: Dec...1965: Dec<_.
1964: Jan.. .Feb . .Mar..Apr. .May.June..
July..Aug. .Sept..Oct...Nov_-D e c .
1965: Jan. . .Feb . .Mar. .Apr . .May.June..
July..Aug-.Sept-Oct...Nov..Dec4 .
Totalmoneysupply
andtime
depos-itsad-
justed
Money supply i
Total
Cur-rencvcom-po-
nent
De-mand
depositcom-
ponent
Timede-
positsad-just-ed 2
Seasonally adjusted
148.5147.5147.6
152.9160.9168.5173.3180.6
185.2188.8193.3206.5209.3214.0228.2245.3265.3286.3314.3
267.1268.4269.4270.7271.8274.0
276.0278.1280.3282.3284.2286.3
288.8290.7292.4294.6294.6297.7
300.1302.8305.9309.2311. 2314.3
113.1111.5111.2
116.2122.7127.4128.8132.3
135.2136.9135.9141.1141.9141.1145.5147.5153.1159.7167.4
153.6153.8154.1154.5154.5155.5
156.6157.1158.2158.8159.1159.7
160.0159.7160.3161.1160.0161.8
162.5162.7164.3165.6165.7167.4
26.425.25.
25.26.27.27.27.
27.28.
81
01374
82
28.328.28.
69
28.929.630.632.534.36.
32.32.32.33.33.33.
33.33.33.34.34.34.
34.34.34.34.34.35.
35.35.35.35.36.36.
23
689034
689022
577790
246913
86. 785.886.0
91.96.
100.101.104.
107.108.107.112.113.112.116.116.120.
25119
476611096
125.4131. 2
121.0121.121.121.121.122.
123.123.124124.124125
12421
033884
125. 5125125126125126
127127128129129131
16418
337762
35.436.036.4
36.738.241.144.548.3
50.051.957.465.467.472.982.797.8
112.2126.6146.9
113.5114.6115.3116.2117.3118.5
119.4121.0122.1123.5125.1126.6
128.8131.0132.1133.5134.6135.9
137.6140.1141.6143.6145.5146.9
Totalmoneysupply
andtime
depos-itsad-
justed
Money supply l
Total
Cur-rencycom-po-
nent
De-mand
depositcom-
ponent
Timede-
positsad-
just-ed 2
Unadjusted
151.0150.0150.0
155.6163.8171.7176.3183.6
188.2191.7196.0209.3212.2216.8231.2248.3268.3289.2317.3
270.7268.2268.6271.6270.2272.5
275.0276.1279.1282.4284.7289.2
292.7290.3291.7295.6293.0296.2
299.2300.7304.6309.3311.8317.3
115.9114.3113.9
119.2125.8130.8132.1135.6
138.6140.3139.3144.7145.6144.7149.4151.6157.3164.0172.0
157.7153.7152.9154.9152.2153.4
155.0155.0157.1159.0160.6164.0
164.4159.5159.0161.6157.6159.6
160.9160.5163.2165.8167.4172.0
26.826.225.5
25.426.627.828.227.9
28.428.828.929.229.529.630.231.233.135.037.0
32.432.332.632.833.133.4
33.733.933.934.134.635.0
34.434.234.334.534.634.9
35.435.535.636.036.537.0
89.188.188.4
93.899.2
103.0103.9107.7
110.2111.5110.4115.5116.1115.2119.2120.3124.1129.1135.0
125.2121.3120.2122.2119.2120.0
121.3121.1123.2124.9126.1129.1
130.1125.3124.6127.1123.0124.6
125.6125.0127.5129.8130.9135.0
35.135.736.1
36.438.040.944.248.0
49.651.456.764.666.672.181.896.7
111.0125.2145.3
113.0114.5115.7116.7118.0119.1
120.0121.1122.0123.4124.1125.2
128.3130.8132.7134.0135.4136.6
138.3140.2141.4143.5144.4145.3
1.01.82.8
2.42.74.93.85.0
3.43.43.53.94.94.74.95.65.15.54.5
4.14.86.04.26.87.6
6.96.36.55.55.85.5
4.25.76.75.69.79.3
9.17.45.65.04.04.5
1 Money supply consists of (1) currency outside the Treasury, the Federal Reserve, and vaults of allcommercial banks; (2) demand deposits at all commercial banks, other than those due to domestic commer-cial banks and the U.S. Government, less cash items in process of collection and Federal Reserve float;and (3) foreign demand balances at Federal Reserve Banks.
2 Time deposits adjusted are time deposits at all commercial banks other than those due to domesticcommercial banks and the U.S. Government.
s Deposits at all commercial banks.4 Preliminary.
NOTE.—Between January and August 1959, the series were expanded to include data for all banks inAlaska and Hawaii.
Source: Board of Governors of the Federal Reserve System.
263
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-46.—Selected liquid assets held by the public, 7946-65
[Billions of dollars, seasonally adjusted]
End of year or month Total
239.1246.2254.1262.1
271.4281.0296.0311.5320.3332.5343.2356.0373.1393.9
399.2424.6459.0495.4530.4572.5
498.9499.6504.0506.1507.7511.4
511.8514.9521.0523.4526.9530.4
534.9536.4542.8543.3543.0550.2
550.9555.6560.6565.0568.2572.5
Demanddeposits
andcurrency l
108.5112.4110.5110.4
115.5120.9125.5127.3130.2133.3134.6133.5138.8139.7
138.4142.6144.8149.6156.7163.7
149.5148.4150.2149.9149.7151.2
151.8152,2155.0155.0155.0156.7
156.1154.8158.6156.3155.4159.6
157.7157.8160.6161.1160.3163.7
Time deposits
Com-mercialbanks
33.935.335.936.3
36.638.241.244.648.249.752.057.565.467.4
73.182.598.1
112.9127.1146.8
114.8115.5115.9117.0117.9118.6
119.8120.6121.9123.8125.9127.1
130.6131.9133.0134.1134.9136.3
138.3139.8141.6144.0146.5146.8
Mutualsavingsbanks
16.917.818.419.3
20.120.922.624.426.328.130.031.633.934.9
36.238.341.444. e49.052.5
45.045.445.646.046.346.8
47.147.547.948.348.649.0
49.449.649.850.150.450.8
51.151.351.652.052.352.5
Postalsavingssystem
3.33.43.33.2
2.92.72.52.42.11.91.61.31.1. 9
. 8
.6
. 5
. 5
.4
. 3
. 5
.4
.4
.4
.4
.4
.4
.4
. 3
. 3
. 3
.3
•
Savingsandloan
shares
8.59.7
11.012.5
14.016.119.222.827.232.037.041.747.754.3
61.870.579.890.9
101.3109.7
91.492.493.594.194.995.8
96.697.899.199.8
100.8101.3
101.7102.6103.6103.9104.4105.1
105.5106.5107.7108.3109.2109.7
U.S.Govern-
mentsavingsbonds2
48.650.953.455.0
55.855.455.755.655.655.954.851.650.547.9
47.047,447.649.049.950.5
49.149.049.049.149.149.2
49.349.349.449.449.549.9
50.049.949.949.949.950.0
50.150.150.150.150.150.5
U.S.Govern-
mentsecuritiesmaturing
withinone year 2
1946194719481949. _.
1950___195119521953195419551956195719581959
196019611962196319641965 3
1964: Jan. . .Feb...Mar . .Apr...May..June.-
July. .A u g -Sept..Oct-_.Nov..D e c .
1965: Jan.. .Feb.-Mar..
May..June.
July-Aug—Sept-Octa.Nova.Dec 3
19.416.621.625.5
26.426.829.334.430.631.633.238.835.648.8
41.942.646.848.146.149.0
48.648.449.349.549.449.4
46.747.147.446.846.746.1
46.847.347.648.647.648.0
47.949.848.749.149.449.0
1 Agrees in concept with money supply, Table C-45, except for deduction of demand deposits held bymutual savings banks and savings and loan associations. Data for last Wednesday of month.
2 Excludes holdings of Government agencies and trust funds, domestic commercial and mutual savingsbanks, Federal Reserve Banks, and beginning February 1960, savings and loan associations.
3 Preliminary.
NOTE.—Between January and August 1959, series for all commercial banks expanded to include data forall banks in Alaska and Hawaii. Data for all member banks include one national bank in Alaska begin-ning 1954.
Source: Board of Governors of the Federal Reserve System.
264
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-47.—Bank loans and investments, 1929-65
[Billions of dollars]
End of year or month
19295
19308 . . . . . . . .19315
1933 51934 519351936 - . . . _19371938193919401941194219431944194519461947194811949-. . _ .195019511952 .195319541955195619571958. .195919601961 _ .1962 •1963 8
1964 _1965 7
1964: JanF e b .MarApr .MayJuneJulyAugSeptOctNovDec
1965: Jan . . ._FebMarAprMay. . . .JuneJuly 7
Aug7
Sept 7Oct7 -_ -Nov 7
Dec«7
All commercial banks iTotalloansand
invest-ments 2
49.448.944.936.130.432.736.139.638.438.740.743.950.767.485.1
105.5124.0114.0116.3
i 113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2185.9194.5209.8228.3246.5267.2294.0246.7248.4251.4251.8253.5256.3254.5258.7261.7261.1265.5267.2269.6272.1275.5277.3279.4282.8281.5286.1286.2288.9291.5294.0
Loans 2
35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.1
141.542.051.156.562.866.169.080.588.091.495.6
107.6113.8120.5133.9149.4167.1191.8151.0151.8153.9155.4157.3160.0159.7161.5163.0163.2165.4167.1170.2171.9175.8177.1179.5183.0182.7185.8186.2188.0189.8191.8
InvestmentsU.S. Gov-ernmentsecurities
4.95.06.06.27.5
10.313.815.314.215.116.317.821.841.459.877.690.674.869.2
162.366.461.260.362.162.367.760.357.357.165.157.859.965.465.262.161.457.660.861.262.160.860.360.058.460.261.260.061.661.459.960.259.659.158.657.756.457.056.557.057.657.6
Othersecurities
8.79.49.78.16.56.77 17.97.07.27.17.47 26.86.16.37.38.19.0
19.210.312.413.414.214.716.416.816.317.920.520.520.823.929.235.038.744.634.935.435.435.635.936.336.437.037.537.938.538.739.540.040.141.141.342.142.443.343.543.944.144.6
Weekly re-porting mem-
ber banks 3
Businessloans4
5.14.24.75.37 16.36.46.57.3
11.314.715.613.917.921.623.423.422.426.730.831.831.730.732.232.935.238.842.150.637.237.638.238.138.338.738.538.940.039.940.542.141.843.044.644.645.246.846.346.948.148.249.050.6
1 Data are for last Wednesday of month (except June 30 and December 31 call dates) for all commercialbanks. Seasonally adjusted data beginning 1948.
2 Adjusted to exclude interbank loans beginning 1948.3 Member banks are all national banks and those State banks which have taken membership in the
Federal Reserve System. Weekly reporting member banks comprise about 350 large banks in over 100leading cities. Data are for last Wednesday of month.
4 Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans tofinancial institutions excluded. Series revised beginning July 1946, October 1955, July 1958, and July 1959.Prior to 1943 published data adjusted to include open market paper.
5 June data are used because complete end-of-year data are not available prior to 1935 for U.S. Governmentobligations and other securities.
e Commercial bank data are estimates for December 31.7 Preliminary.NOTE.—National bank data in Alaska and Hawaii included beginning April 1954 and 1959, respectively.
All other bank data in Alaska and Hawaii included beginning January 1959 and August 1959, respectively.Source: Board of Governors of the Federal Reserve System.
265
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-48.—Bond yields and interest rates, 1929-65
[Percent per annum]
Year or month3-monthTreas-
urybills i
1929
19301931193219331934
19351936193719381939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965
1963: Jan..Feb.Mar.Apr.MayJune.
July.Aug.Sept.Oct..Nov.Dec.
XJ.S. Government securities
()1.402.879.515.256
.137
.143
.447
.053
.023
.014
.103
.326
.373
.375
.375
.375
.5941.0401.102
1.2181.5521.7661.931
.953
1.7532.6583.2671.8393.405
2.9282.3782.7783.1573.549
3.954
2.9142.9162.8972.9092.9202.995
3.1433.3203.3793.4533.5223.523
9-12monthissues 2
()(8)
()0.75.79
.81
.82
.881.141.14
1.261.731.812.07.92
1.892.833.532.094.11
3.552.913.023.283.76
4.09
2.972.892.993.023.063.17
3.333.413.543.593.703.77
3-5year
issues 3Taxablebonds
2.662.12
1.291.111.40.83.59
.50
.73
.46
.34
.33
.18
.16
.32
.62
.43
.50
.932.132.561.82
2.503.123.622.904.33
3.993.603.573.724.06
4.22
3.473.483.503.563.573.67
3.783.813.883.913.974.04
2.462.472.48
2.372.192.252.442.31
2.322.572.682.942.55
2.843.083.473.434.08
4.023.903.954.004.15
4.21
3.893.923.933.973.974.00
4.013.994.044.074.114.14
Corporatebonds
(Moody's)
Aaa
4.73
4.554.585.014.494.00
3.603.243.263.193.01
2.842.772.832.732.72
2.622.532.612.822.66
2.622.862.963.202.90
3.063.363.893.794.38
4.414.354.334.264.40
4.49
4.214.194.194.214.224.23
4.264.294.314.324.334.35
Baa
High-grade
munic-ipal
bonds(Stand-ard &
Poor's)
5.90
5.907.629.307.766.32
5.754.775.035.804.96
4.754.334.283.913.61
3.293.053.243.473.42
3.243.413.523.743.51
3.533.884.714.735.05
5.195.085.024.864.83
4.87
4.914.894.884.874.854.84
4.844.834.844.834.844.85
Averagerate onshort-termbankloans
to busi-ness-
selectedcities
4.27
4.074.014.654.714.03
3.403.073.102.912.76
2.502.102.362.061.86
1.671.642.012.402.21
1.982.002.192.722.37
2.532.933.603.563.95
3.733.463.183.233.22
3.27
3.123.183.113.113.153.27
3.293.223.273.323.413.34
2.02.22.62.4
2.22.12.12.52.7
2.73.13.53.73.6
3.74.24.64.3
9 5.0
5.25.05.05.05.0
5.0
5.00
5.61
5.01
5.66
Primecom-mer-cial
paper,4-6
months
5.85
3.592.642.731.731.02
.75
.75
.94
.81
.59
.56
.53
.66
.69
.73
.75
.811.031.441.49
1.452.162.332.521.58
2.183.313.812.463.97
3.852.973.263.553.97
4.38
3.343.253.343.323.253.38
3.493.723.883.883.883.96
Fed-eralRe-
serveBankdis-
countrate
5.16
3.042.112 822.561.54
1.501.501.331.001.00
1.001.00
8 1.008 1.0081.00
8 1.008 1.00
1.001.341.50
1.591.751.751.991.60
1.892.773.122.163.36
3.533.003.003.233.55
4.04
3.003.003.003.003.003.00
3.243.503.503.503.503.50
See footnotes at end of table.
266
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-48.—Bond yields and interest rates, 1929-65—Continued
[Percent per annum]
Year or month3-monthTreas-
urybills 1
1964: Jan .Feb.Mar.Apr.MayJune.
July.Aug.Sept.Oct..Nov.Dec.
1965: Jan. .Feb.Mar.Apr.MayJune
July.Aug.Sept.Oct..Nov.Dec.
U.S. Government securities
3.5293.5323.5533.4843.4823.478
3.4793.5063.5273.5753.6243.856
3.8283.9293.9423.9323.8953.810
3.8313.8363.9124.0324.0824.362
9-12monthissues 2
3.663.633.673.633.673.83
3.683.733.823.833.883.96
3.873.974.034.003.993.98
3.964.004.114.184.294.66
3-5year
issues 3Taxablebonds4
4.064.024.154.184.074.03
3.993.994.034.044.044.07
4.064.084.124.124.114.09
4.104.194.244.334.464.77
4.154.144.184.204.164.13
4.134.144.164.164.124.14
4.144.164.154.154.144.14
4.154.194.254.284.344.43
Corporatebonds
(Moody's)
Aaa
4.374.364.384.404.414.41
4.404.414.424.424.434.44
4.434.414.424.434.444.46
4.484.494.524.564.604.68
Baa
4.834.834.834.854.854.85
4.834.824.824.814.814.81
4.804.784.784.804.814.85
4.884.884.914.934.955.02
High-grade
munic-ipal
bonds(Stand-ard &
Poor's)
3.233.173.323.293.213.20
3.183.203.253.263.183.15
3.063.103.183.173.193.26
3.263.253.363.423.473.56
Averagerate onshort-termbankloans
to busi-n e s s -
selectedcities
4.99
4.98
5.00
4.97
5.00
5.27
Primecom-mer-cial
paper,4-6
months
3.973.884.003.913.894.00
3.963.883.894.004.024.17
4.254.274.384.384.384.38
4.384.384.384.384.384.65
Fed-eralRe-
serveBankdis-
countrate
3.503.503.503.503.503.50
3.503.503.503.503.624.00
4.004.004.004.004.004.00
4.004.004.004.004.004.42
1 Rate on new issues within period. Issues were tax exempt prior to March 1, 1941, and fully taxablethereafter. For the period 1934-37, series includes issues with maturities of more than 3 months.
2 Includes certificates of indebtedness and selected note and bond issues (fully taxable).3 Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable there-
after.4 First issued in 1941. Series includes bonds which are neither due nor callable before a given number of
years as follows: April 1953 to date, 10 years; April 1952-March 1953, 12 years; October 1941-March 1952,15 years.
5 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.• Not available before August 1942.i Not available on same basis as for 1939 and subsequent years.8 From October 30,1942, to April 24,1946, a preferential rate of 0.50 percent was in effect for advances secured
by Government securities maturing or callable in 1 year or less.0 Series revised to exclude loans to nonbank financial institutions.NOTE.—Yields and rates computed for New York City except for short-term bank loans.
Sources: Treasury Department, Board of Governors of the Federal Reserve System, Moody's [InvestorsService, and Standard & Poor's Corporation.
267
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C—49.—Federal Reserve Bank credit and member bank reserves, 1929-65
[Averages of daily figures, millions of dollars]
Year and month
1929: Dec
1930: Dec1931: Dec1932: Dec1933: Dec1934: Dec1935: Dec1936: Dec1937: Dec __ __1938: Dec1939: Dec
1940: Dec1941: Dec1942: Dec _ _ .__1943: D e c .1944: Dec1945: Dec1946: Dec1947: Dec _ . _.1948: Dec1949: Dec
1950: Dec1951: Dec1952: Dec1953- Dec1954: Dec1955: Dec1956* Dec1957: Dec1958- Dec1959: Dec _
I960* Dec1961* Dec1962: Dec1963: Dec1964* Dec1965: Dec3
1964: JanFebMarA p rMay.June
JulyAugSeptOctNov _Dec
1965* JanFeb .MarAprMayJune
JulyAugSeptOctNov3
Dec 3
Reserve Bank credit outstanding
Total
1,643
1,2731,9502,1922,6692,4722,4942,4982,6282,6182,612
2,3052,4046,035
11,91419. 61224, 74424, 74622,85823,97819,012
21,60625, 44627,29927,10726,31726,85327,15626,18628,41229,435
29,06031,21733, 21836,61039,87343,853
35,77035,02835,45435,60235,98136,760
37,07737,17037, 57837,74738,42139,873
39,24539,24439,53539,88240,34041,153
41,65141,50441,61042, 04842,64943,853
U.S.Govern-ment se-curities
446
644777
1,8542,4322,4302,4302,4342,5652,5642,510
2,1882,2195,549
11,16618, 69323,70823, 76721, 90523,00218, 287
20,34523,40924,40025,63924, 91724,60224, 76523,98226,31227,036
27, 24829,09830, 54633,72937,12640,885
33,20033,00933,38933, 49833,90734,631
34,89835,11835,27335,33436,03637,126
36,68437, 05237,31537,63738,11138,840
39,24939,31839,10839,60140,12840,885
Memberbank
borrow-ings
801
337763281951067
1673
354
90265334157224134118
142657
1,593441246839688710557906
87149304327243454
256304259213255270
265334331309430243
299405416471505528
524564528490452454
Allother,
mainlyfloat
396
29241057
142325857474799
114180483659654702821729842607
1,1191,3801,3061,0271,1541,4121,7031,4941,5431,493
1,7251,9702,3682,5542,5042,514
2,3141,7151,8061,8911,8191,859
1,9141,7181,9742,1041,9552,504
2,2621,7871,8041,7741,7241,785
1,8781,6221,9741,9572,0692,514
Member bank reserves
Total
2,395
2,4152,0692,4352,5884,0375,7166,6656,8798,745
11,473
14,04912,81213.15212, 74914,16816, 02716, 51717, 26119,99016,291
17,39120,31021,18019, 92019.27919, 24019, 53519,42018,899
218,932
19,28320,11820,04020,74621,60922,715
20,67320,14620,21320,27720,22020,558
20,66520,56620,92821,03321,15921,609
21,62021,23121,24621,51121, 47221,709
21,86321,61721, 72921,95921,95822,715
Re-quired
2,347
2,3422,0101,909
i 1, 8222,2902,7334.6195,8085,5206,462
7,4039,422
10, 77611. 70112. 88414, 53615, 61716, 27519,19315,488
16.36419.48420, 45719,22718,57618,64618,88318,84318,38318,450
18,52719, 55019,46820,21021,19822,272
20,24219,75319,85519,89719,88320,168
20,26520,14920,50820,61820,76321,198
21,21520, 79020,90521,14521,14721,363
21,51321,18721,35621,61821, 58822,272
Excess
48
7360
5261766
1,7482,9832,0461,0713,2265,011
6,6463,3902,3761,0481,2841,491
900986797803
1,027826723693703594652577516482
756568572536411443
431393358380337390
400417420415396411
405441341366325346
350430373341370443
Memberbank freereserves(excess
reservesless bor-rowings)
-753
-264-703
245671
1 7382,9772 0391,0553,2195.008
6,6433,3852,372
9581,0191,157
743762663685
885169
-870252457
-245- 3 6
-133- 4 1
-424
669419268209168
- 1 1
1758999
16782
120
1358389
106- 3 4
168
10636
- 7 5-105-180-182
-174-134-155-149
- 8 2- 1 1
1 Data from March 1933 through April 1934 are for licensed banks only.2 Beginning December 1959, total reserves held include vault cash allowed.3 Preliminary.
NOTE.—Data for member banks in Alaska and Hawaii included beginning 1954 and 1959, respectively.
Source: Board of Governors of the Federal Reserve System.
268
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-50.—Short- and intermediate-term consumer credit outstanding, 7929-65
[Millions of dollars]
End of year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
19601961196219631964-1965 «
1964: Jan__Feb . .Mar .AprMay .June.
Ju ly .AugSept_Oct . .NovD e c
1965: JanF e b . .Mar .Apr.May-June.
July . .Aug..Sept_Oct--Nov
Total
7,116
6,3515, 3154,0263,8854,2185,1906,3756,9486,3707,222
8,3389,1725,9834,9015,1115,6658,38411, 59814,44717,364
21,47122,71227, 52031,39332, 46438,83042.33444,97045,12951,542
56,02857,67863,16469,89076,81086,100
69,20368,78668,91369,81670,94571,907
72,45673,06973,49573,92874,37176,810
76,14575, 74176,08577,48378,68779,887
80,68681,45481,924
83,39086,100
Instalment credit
Total
3, 524
3,0222,4631,6721,7231,9992,8173,7474,1183,6864,503
5,5146,0853,1662,1362,1762,4624,1726,6958,996
11,590
14, 70315,29419, 40323,00523, 56828,90631,72033,86733,64239,245
42,83243,52748,03453,74559,39767,500
53,59753,55253,79554,38255,12055,914
56,49657,05557,44657, 82658,08559,397
59,34259,36359, 78860,80361,73962, 790
63,60964,39364,84665,36866,01267, 500
Auto-mobilepaper i
1,384
986684356493614992
1,3721,4941,0991,497
2,0712,458
742355397455981
1,9243,0184,555
6,0745,9727,7339,8359,809
13,46014,42015,34014,15216,420
17,68817,22319,54022,19924,52128,200
22,18922, 27122,47122,83023, 25523,702
24,02424,25124,29524,42324,36724, 521
24, 57424, 74325,06325, 61526,10926,685
27,17127,49327,55527, 76627,97628,200
Othercon-
sumergoods
paper *
Repairand
modern-izationloans 2
1,544
1,4321,214
834799889
1,0001,2901,5051,4421,620
1,8271,9291,195
819791816
1,2902,1432,9013,706
4,7994,8806,1746,7796,7517,6418,6068,8449,028
10,630
11,52511,85712,60513,76615,30317,500
13,63813,46713,45113,47613,59913,730
13,81313,92314,04614, 22214,43115,303
15,20414,98414,94415,05615,22915,422
15,57315, 73815,95416,21416,51517,500
181537253364219218298
371376255130119182405718853898
1,0161,0851,3851,6101,6161,6931,9052,1012,3462,809
3,1393,1913,2463,3893,5023,600
3,3543,3353,3213,3283,3643,395
3,4263,4663,4933,5093,5163,502
3,4733,4463,4403,4393,4843,524
3,5533,5973,6133,6253,6383,600
Per-sonalloans
569
579543464416459572721900927
1,088
1,2451,322974832869
1,0091,4961,9102,2242,431
2,8143,3574,1114,7815,3926,1126,7897,5828,1169,386
10,48011,25612,64314,39116,07118, 200
14,41614,47914,55214,74814,90215,087
15, 23315,41515,61215,67215,77116, 071
16,09116,19016,34116, 69316,91717,159
17,31217, 56517, 72417, 76317,88318,200
Noninstalment credit
Total
3,592
3,3292,8522,3542,1622,2192, 3732,6282,8302,6842,719
2,8243,0872,8172,7652,9353,2034,2124,9035,4515,774
6, 7687,4188,117
9,92410,61411,10311,48712,297
13,19614,15115,13016,14517,41318, 600
15,60615, 23415,11815,43415,82515,993
15,96016,01416,04916,10216,28617,413
16,80316,37816,29716, 68016, 94817,097
17,07717,06117,07817,20117,37818,600
hargeac-
counts
1,996
1,8331,6351,3741,2861,3061,3541,4281,5041,4031,414
1,4711,6451,4441,4401,5171,6122,0762,3812, 7222,854
3,3673,7004,1304,2744,4854,7954,9955,1465,0605,104
5,3295,3245,6845,8716,3006,800
5,3394,8054,6344,8335, 0995,238
5,2405,2315,2235,3525,3946,300
5,7245,1544,9775,2105,4535,528
5,5345,4985,4965,6455,7406,800
Other 3
1,596
1,4961,217
980876913
1,0191,2001, 3261,2811,305
1,3531,4421,3731, 3251,4181,5912,1362, 522•> 7292, 920
3,4013,7183,9874,1144.4115,1295,6195,9576,4277,193
7,8678,8279,446
10,27411,11311,800
10, 26710,42910,48410,60110,72610,755
10,72010,78310,82610,75010,89211,113
11,07911,22411,32011,47011,49511,569
11,54311,56311,58211,55611,63811.800
1 Includes all consumer credit extended for the purpose of purchasing automobiles and other consumergoods.
2 Includes only such loans held by financial institutions; those held by retail outlets are included in "otherconsumer goods paper."
3 Single-payment loans and service credit.4 Preliminary; December by Council of Economic Advisers.
NOTE.—Data for Alaska and Hawaii included beginning January and August 1959, respectively.
Source: Board of Governors of the Federal Reserve System (except as noted).
269
795-983 O—66
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-51.—Instalment credit extended and repaid, 1946-65
[Millions of dollars]
Year or month
Total
Ex-tended paid
Automobilepaper
Ex-tended
Re-paid
Other consumergoods paper
Ex-tended
Re-paid
Repair andmodernization
loans
Ex-tended
Re-paid
Personalloans
Ex-tended
Re-paid
1946—1947._.1948---1949--.
1950---1951--.1952--1953--1954.-
1955.--1956--1957--1958--1959--.
I960—1961 - .1962—1963—1964...
1965i_
1964: Jan...Feb..Mar..Apr..May...June-July..Aug..Sept..Oct..Nov..Dec.
1965: Jan..Feb..Mar..Apr..May_June.
July.Aug.Sept.Oct..Nov.Deci
8,49512,71315, 58518,108
21,55823, 57629, 51431, 55831, 051
38,97239,86842, 01640,11948, 052
49, 56048,39655,12660, 82266, 070
74,700
6,78510,19013,28415, 514
18,44522,98525,40527,95630,488
33,63437, 05439, 86840, 34442, 603
45,97247, 70050, 62055, 11160,418
66,600
1,9693,6925,2176,967
8,5308,95611,76412,98111, 807
16, 73415,51516,46514,22617, 779
17,65416, 00719, 79622, 01323,565
27, 400
1,4432,7494,1235,430
7,0119,05810,00310,87911, 833
13,08214, 55515, 54515,41515, 579
16,38416,47217, 47819, 35421,243
23, 700
3,0774,4985,3835,865
7,1507,4859,1869,2279,117
10,64211, 72111,80711, 74713,982
14,47014, 57815, 68517, 00719,162
21, 400
2,6033,6454,6255,060
6,0577,4047,8928,6229,145
9, 75210, 75611, 56911, 56312,402
13, 57414,24614,93915, 84617,625
19,200
423704714734
835841
1,2171,3441,261
1,3931,5821,6741,8712,222
2,2132,0682,0512,1782,182
2,200
200391579
717772917
1,1191,255
1,3161,3701,4771,6261,765
1,8832,0151,9962,0352,069
2,100
3,0263,8194,2714,542
5,0436,2947,3478,006
10,20311, 05112,06912,27514, 070
15,22315,74417,59419,62421,161
23,700
Seasonally adjusted
5,2765,4215,4805,3715,5525,399
5,5415,5295,6175,5075,4565,816
5,8836,0226,0306,1896,1056,139
6,2786,2886,3316,3066,4056,700
4,8484,8424,9564,9595,0595,029
5,0585,0945,1045,0975,1555,256
5,2135,3815,3935,4455,4355,537
5,6125,6795,6485,7175,7486,000
1,8881,9531,9421,9612,0231,962
1,9962, 0172,0241,9241,8582,043
2,1202,2282,2292,2722,2152,250
2,3012,3132,3242,2662,4082,500
1,6841,7161,7351,7591,7761,768
1,7811,7891,8021,7881,8181,864
1,8301,8971,9241,9361,9401,960
1,9722,0301,9962,0282,1122,200
1111]1
:
,493,578,665,544,589,537
,546,570,588,582
L, 631L, 719
L,729L, 760L, 698L, 645L, 728L, 717
1,7921,7941,8341,8831,8521,900
1,4411,3951,4681,4531,4831,486
1,4481,4961,4911,4561,5091,505
1,5261,6321,5671,4871,5641,587
1,6121,6581,6291,6481,6661,700
185186179174187183
189186186180175180
181175186189190199
179194172177182200
176171174172175170
171172172167174177
171172171190172179
169180168170173200
1,7101,7041,6941,6921,7531,717
1,8101,7561,8191,8211,7921,874
1,8531,8591,9172,0831,9721,973
2,0061,9872,0011,9801,9632,100
2,5393,4053,9574,335
4,6605,7516,5937,3368,255
9,48410, 37311, 27611, 74112,857
14,13014,96716,20617,87619,481
21,600
1,5471,5601,5791,5751,6251,605
1,6581,6371,6391,6861,6541,710
1,6861,6801,7311,8321,7591,811
1,8591,8111,8551,8711,7971,900
i Preliminary; December by Council of Economic Advisers.
NOTE.—Data for Alaska and Hawaii included beginning January and August 1959, respectively. There-fore, the difference between extensions and repayments for January and August 1959 and for the year 1959does not equal the net change in credit outstanding.
Source: Board of Governors of the Federal Reserve System (except as noted).
270
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-52.—Mortgage debt outstanding, by type of property and of financing, 1939-65
[Billions of dollars!
End of year or quarter
1939
19401941194219431944
19451946194719481949 _.
19501951195219531954
19551956195719581959
196019611962196319641965 3
1962: I____I I —III. .IV..
1963: I -_ .II—III..IV..
1964: I . . . .I I . . .III...IV...
1965: I«...113.III 3IV 3.
Allprop-erties
35.5
36.537.636.735.334.7
35.541.848.956.262.7
72.882.391.4
101.3113.7
129.9144.5156.5171.8190.8
206.8226.3251.6281. 2311.6341.9
231.1237.8244.5251.6
257.1265.3273.4281.2
287.4295.5303.6311.6
317.7326.0334.0341.9
Nonfarm properties
Total
28.9
30.031.230.829.929.7
30.836.943.950.957.1
66.775.684.293.6
105.4
120.9134.6146.1160.7178.7
194.0212.4236.4264.4292.7320.7
216.8223.1229. 6236.4
241.6249.2256.8264.4
270.0277.5285.1292.7
298.3305.8313.3320.7
1- to 4-family houses
Total
16.3
17.418.418.217.817.9
18.623.028.233.337.6
45.251.758.566.175.7
88.299.0
107.6117.7130.9
141.3153.1166.5182.2197.6212.9
155.3159.1162.9166.5
169.2173.7178.2182. 2
185.4189.8193.9197.6
200.5204.8209.0212.9
Governmentwritten
Total
1.8
2.33.03.74.14.2
4.36.19.3
12.515.0
18.922.925.428.132.1
38.943.947.250.153.8
56.459.162.265.969.2(*)
59.960.561.262.2
63.063.864.665.9
66.667.368.469.2
70.170.772.0
FHAin-
sured
1.8
2.33.03.74.14.2
4.13.73.85.36.9
8.69.7
10.812.012.8
14.315.516.519.723.8
26.729.532.335.038.3
30.330.931.532.3
33.033.534.335.0
35.736.337.438.3
39.039.740.9
under-
VAguar-
anteed
0.22.45.57.28.1
10.313.214.616.119.3
24.628.430.730.430.0
29.729.629.930.930.9(*)
29.629.629.629.9
30.030.330.430.9
31.030.931.130.9
31.031.031.1
Con-ven-
tional i
14.5
15.115.414.513.713.7
14.316.918.920.822.6
26.328.833.138.043.6
49.355.160.467.677.0
84.893.9
104.3116.3128.4
95.498.7
101.7104.3
106.2109.9113.6116.3
118.8122.5125. 4128.3
130.5134.1136.9(*)
Multi-family
andcom-
mercialprop-
erties 2
12.5
12.612.912.512.111.8
12.213.815.717.619.5
21.623.925.727.529.7
32.635.638.543.047.9
52.759.369.982.295.1
107.8
61.564.066.769.9
72.475.578.682.2
84.687.791.295.1
97.7101.0104.3107.8
Farmprop-erties
6.56.46.05.44.9
4.84.95.15.35.6
6.16.77.27.78.2
9.09.8
10.411.112.1
12.813.915.216.818.921.2
14.214.714.915.2
15.616.216.616.8
17.318.118.518.9
19.520.220.721.2
1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary.* Not available.
Source: Board of Governors of the Federal Reserve System, estimated and compiled from data suppliedby various Government and private organizations.
271
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-53.—Net public and private debt, 1929-65 l
[Billions of dollars]
End ofyear2
1929—-
1930-___1931-..-1932—_1933-...1934....
1935....1936..-.1937—-1938..--1939..-.
1940—_1941....1942—1943—.1944-.._
1945—-1946-...1947—.1948....1949-...
1950-..-1951195219531954
1955—.1956—.1957—_19581959—-
I960—.1961-.--19621963—-1964—-1965 5 . .
Total
190.9
191.0181.9174.6168.5171.4
174.7180.3182.0179.6183.2
189.9211.6259.0313.6370.8
406.3397.4417.4433.6448.4
490.3524.0555.2586.5612.0
672.3707.5738.9782.6846.2
890.2947.8
1,019. 51,095. 71,171.71,260.0
Fed-eralGov-ern-
mentand
agency
16.5
16.518.521.324.330.4
34.437.739.240.542.6
44.856.3
101.7154.4211.9
252.7229.7223.3216.5218.6
218.7218.5222.9228.1230.2
231.5225.4224.4232.7243.2
241.0248.1255.8261.0267.2270.0
Stateandlocalgov-ern-
ment2
13.2
14.115.516.616.715.9
16.016.216.116.016.3
16.516.315.814.914.1
13.713.614.416.218.1
20.723.325.828.633.4
38.442.746.750.955.6
60.065.073.779.585.292.8
Private
Total
161.2
160.4147.9136.7127.5125.1
124.2126.4126.7123.1124.3
128.6139.0141.5144.3144.8
139.9154.1179.7200.9211.7
250.9282.2306.5329.8348.4
402.5439.4467.8499.1547.4
589.2634.7690.0755.2819.4897.2
(
Total
88.9
89.383.580.076.975.5
74.876.175.873.373.5
75.683.491.695.594.1
85.393.5
108.9117.8118.0
142.1162.5171.0179.5182.8
212.1231.7246.7259.5283.3
302.8324.4348.4376.2401.7439.5
Corporate
Long-term
47.3
51.150.349.247.944.6
43.642.543.544.844.4
43.743.642.741.039.8
38.341.346.152.556.5
60.166.673.378.382.9
90.0100.1112.1121.2129.3
139.1149.5161.4174.5188.0206.0
Short-term
41.6
38.233.230.829.130.9
31.233.532.328.429.2
31.939.849.054.554.3
47.052.262.865.361.5
81.995.997.7
101.2100.0
122.2131.7134.6138.4154.0
163.6175.0187.0201.7213.7233.5
Individual and noncorporate
Total
72.3
71.164.456.750.649.6
49.450.350.949.850.8
53.055.649.948.850.7
54.660.670.883.193.7
108.8119.7135.5150.3165.6
190.4207.7221.1239.5264.1
286.4310.3341.6379.0417.6457.7
Farm 3
12.2
11.811.110.19.18.9
9.18.68.69.08.8
9.19.39.08.27.7
7.37.68.6
10.812.0
12.313.615.216.917.6
18.819.520.323.323.0
25.127.530.233.235.741.1
Nonfarm
Total
60.1
59.353.346.641.540.6
40.541.742.340.942.0
43.946.340.940.542.9
47.453.062.372.481.8
96.6106.2120.4133.6147.9
171.6188.2200.8216.2241.1
261.4282.8311.4345.8382.0416.6
Mort-gage
31.2
32.030.929.026.325.5
24.824.424.324.525.0
26.127.126.826.126.0
27.032.538.845.150.6
59.467.475.283.894.6
108.7121.3131.6144.6160.8
174.5190.4210.6234.0259.3283.5
Com-mer-cialand
finan-rial *
22.4
21.617.614.011.711.2
10.811.211.310.19.8
9.510.08.19.5
11.8
14.712.111.912.913.9
15.816.217.818.420.8
24.024.424.326.528.7
30.834.837.642.045.847.0
Con-sumer
6.4
5.84.83.63.53.9
4.96.16.76.37.2
8.39.26.04.95.1
5.78.4
11.614.417.3
21.422.627.431.432.5
38.942.544.845.151.5
56.057.763.269.976.886.1
1 Net public and private debt outstanding is a comprehensive aggregate of the indebtedness of borrowersafter elimination of certain types of duplicating governmental and corporate debt. For a further explana-tion of the concept, see Survey of Current Business, October 1950.
2 Data for State and local government debt are for June 30.3 Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the
nonfarm categories.4 Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers,
and debt owed to life insurance companies by policy holders.5 Preliminary estimates by Council of Economic Advisers.
NOTE.—Revisions for 1929-39 and 1955-57 in the consumer credit data of the Board of Governors of theFederal Reserve System have not yet been fully incorporated into this series.
Sources: Department of Commerce (Office of Business Economics), Treasury Department, Board ofGovernors of the Federal Reserve System, and Federal Home Loan Bank Board (except as noted).
272
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GOVERNMENT FINANCETABLE C-54.—U.S. Government debt, by kind of obligation, 1929-65
[Billions of dollars]
End of year or month
1929 _ _ _1930 _193119321933193419351936193719381939 _1940194119421943 .19441945 . . .1946194719481949195O._19511952 _ _195319541955195619571958195919601961 _ _196219631964 _19651964- J a n
FebMarA p rMayJuneJulyAug _ __ __SeptOct _ _NovDec
1965: JanFeb .MarApr ___ __M a yJune --JulyAugSept . . .OctNovDec-_.
Grosspublic
debt andguar-
anteedissues i
16 316 017.820.824 031.535.139.141.944 447.650.964.3
112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7321.4309.3311.1310.4308.4312.3312.5312.0314.9316.5316.5319.3318.7318.6320.6318.4317.2319.8317.9317.1318.7317.3319.4322.2321.4
Interest-bearing public debt
Marketable publicissues
Short-term
issues2
3 32 92 85.97 5
11 114.212.512 59 87.77 58.0
27.047 169.978.257 147.745.950.258.365.668.777.376.081.379.582 192.2
103.5109.2120.5124.6121 2115.5110.4119 9122 2121 2120.4119 5118.0109.7110.6111 9113.1115.4115.5111.6114.3112 0112.0108.5106.2106.2104.1104.1107.8110.4110.4
Treasurybonds
11 311 313 513.414 715.414.319.520.524 026.928 033.449.367.991.6
120.4119.3117.9111.4104.894.076.979.877.281.881.980.882 183.484.879.875.578.486 497.0
104.288 787.087.087.088.588.597.197.197.197.097.097.0
102.8100.6100. 5100.5102.5102.5102.5104.3104.3104.3104.2104.2
Nonmarketable public issues
UnitedStates
savingsbonds
0.2.5
1.01 42.23 26.1
15.027 440.448.249 852.155.156.758.057.657.957.757.757.956.352 551.248.247.247.547.548 849.750.348 949 049 149.149 249.349 449.449 549.649 749.749.849.949 950.050.050.050.150.250.250.350.350.3
Treasurytax andsavingsnotes
2.56.48 69.88.25 75.44.67.68.67.55.86.04.5
0)
(8)
(6)(6)(6)
•)(6)
(6)
(6)
81
1
Invest-ment
bonds 3
1.01.01.01.0
13.013.412.912.712.311.610 39.07.66.25.14.43.73.42.83 63.63.63.63.63.53.53.53.53.43.43.43.43.33.33.33.33.33.33.33.22.82.82.8
Specialissues 4
0 6. 8. 4.4.4.6.7.6
2.23 24.25.47.09.0
12.716.320.024.629.031.733.933.735.939.241 242.643.945.645.844.843.544.343.543.443.746.146.341.942.943.242.045.046.645.747.447.446.346.746.144.245.645.744.447.848.647.849.848.147.047,146.2
1 Total includes non-interest-bearing debt, fully guaranteed securities (except those held by the Treas-ury), Postal Savings bonds, prewar bonds, adjusted service bonds, depositary bonds, armed forces leavebonds, Rural Electrification Administration series bonds, foreign series certificates and notes, foreign cur-rency certificates and bonds, Treasury certificates, and U.S. retirement plan bonds, not shown separately.Not all of total shown is subject to statutory debt limitation.2 Bills, certificates of indebtedness, and notes.3 Series A bonds through September 1965 and, beginning April 1951, series B convertible bonds.4 Issued to U.S. Government investment accounts. These accounts also held $15.6 billion of publicmarketable and nonmarketable issues on December 31, 1965.5 Less than $50 million.
• The last series of Treasury savings notes matured in April 1956.Source: Treasury Department.
273
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TABLE G-55.—Estimated ownership of U.S. Government obligations, 1939—65
[Par values,1 billions of dollars]
End of year ormonth
Gross public debt and guaranteed issues 2
Total
Heldby U.S.
Gov-ern-
mentinvest-mentac-
counts
Heldby
FederalReservebanks
Held by "the public"
TotalCom-
mercialbanks
Mutualsavingsbanksand in-surance
com-panies
Othercorpora-tions *
Stateandlocal
govern-ments 5
Individ-uals e
Miscel-laneousinves-tors 7
193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965*1964: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1965: JanFebMarAprMayJuneJulyAugSeptOctNov _Dec 8
47.6
50.964.3
112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7321.4309.3311.1310.4308.4312.3312.5312. 0314.9316.5316.5319.3318.7318.6320.6318.4317.2319.8317.9317.1318.7317.3319.4322.2321.4
6.57.69.5
12.216.921.727.030.934.437.339.439.242.345.948.349.651.754.055.254.453.755.154.555.658.060.661.956.557.557.656.159.461.159.961.861.860.561.260.659.160.460.759.262.763.462.364.863.662.362.861.9
2.52.22.36.2
11.518.824.323.322.623.318.9
20.823.824.725.924.924.824.924.226.326.627.428.930.833.637.040.832.833.233.833.234.234.835.135.235.435.736.837.036.736.937.637.838.739.139.239.039.839.740.640.8
38.641.152.594.0
141.6191.6227.4205.2200.1192.2198.9
196.8193.4196.9201.0204.2204.3197.8195.5202.3210.6207.9213.1217.6218.5221.1218.7220.0220.5219.0219.1218.8216.6217.0218.0219.3220.2221.4221.1222.8223.3220. 2220.3218.5215.4215.6214. 9213. 9217.5218.8218.7
15.917.321.441.159.977.790.874.568.762.566.8
61.861.663.463.769.262.059.559.567.560.362.167.267.264.364.060.362.962.261.661.160.060.259.360.161.962.263.664.062.961.760.459.758.458.357.356.557.559.760.060.3
9.410.111.915.821.228.034.736.735.932.731.5
29.626.325.525.124.123.121.320.219.919.518.117.517.617.116.815.817.217.217.217.117.016.916.917.117.217.016.916.817.117.217.016.816.616.316.316.316.316.015.815.8
2.22.04.0
10.116.421.422.215.314.114.816.8
19.720.719.921.519.123.218.717.718.121.418.718.518.618.717.916.020.021.019.820.220.818.519.019.017.718.718.517.918.619.017.217.017.615.115.916.114.715.616.716.0
0.4.5.7
1.02.14.36.56.37.37.98.1
8.89.6
11.112.714.415.416.316.616.518.018.719.020.121.121.222.921.221.421.722.622.622.522.222.622.121.921.621.222.223.023.224.324.424.124.123.823.123.422.922.9
10.110.613.623.737.653.364.164.265.765.566.3
66.364.665.264.863.565.065.964.963.769.466.165.966.068.270.072.368.769.069.568.769.169.269.569.0
69.770.070.671.071.571.271.271.171.771.772.072.172.272.3
0.7.7.9
2.34.47.09.18.18.48.99.4
10.5•10.611.713.213.915.616.116.616.622.124.225.028.029.231.231.430.129.629.129.629.229.330.230.230.930.631.231.231.531.430.831.330.230.530.330.530.230.831.331.4
1 United States savings bonds, series A-F and J, are included at current redemption value.2 Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutory debtlimitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and Terri-tories and island possessions; figures exclude securities held in trust departments. Since the estimates inthis table are on the basis of par values and include holdings of banks in United States Territories and pos-sessions, they do not agree with the estimates in Table C-47, which are based on book values and relate onlyto banks within the United States.4 Exclusive of banks and insurance companies.5 Includes trust, sinking, and investment funds of State and local governments and their agencies, and ofTerritories and possessions.6 Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers andbrokers, and investments of foreign balances and international accounts in this country. Beginning withDecember 1946, the international accounts include investments by the International Bank for Reconstruc-tion and Development, the International Monetary Fund, the International Development Association, theInter-American Development Bank, and various U.N. funds, in special non-interest-bearing notes andbonds issued by the U.S. Government. Beginning with June 30, 1947, includes holdings of Federal landbanks.8 Preliminary estimates by Council of Economic Advisers.
Source: Treasury Department (except as noted).
274Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-56.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-65
End of year or monthAmount
out-standing
Maturity class
Within1 year
I t o 5years
5 to 10years
10 to 20years
20 yearsandover
Average length
Fiscal year:1946194719481949
1950..1951 .1952..1953..1954..
1955..1956..1957 .1958..1959..
I960..19611962..1963..1964_.1965.
1964: J a n . .Feb__Mar._Apr__May-June,
July . .Aug. .Sept.Oct- .Nov_.Dec._
1965: Jan__Feb_.Mar_.Apr._May-June .
July_.A u g -Sept_Oct_.Nov_.Dec.
Millions of dollars Years Months
189,606168, 702160,346155.147
155,310137,917140, 407147, 335150, 354
155, 206154, 953155, 705166. 675178, 027
183,845187.148196, 072203, 508206, 489208, 695
208,589209,218208, 223207,356208, 009206,489
206,776207,692208,981210,118212,414212,454
214,411214,863212,507212,451210,954208,695
208, 664208,402208,381212, 097214,619214,604
61,97451, 21148, 74248,130
42, 33843, 90846,36765, 27062, 734
49, 70358, 71471,95267, 78272, 958
70, 46781,12088, 44285, 29481, 42487, 637
88,44585,04684,04482,55482,93081,424
77, 23181,38982, 68984,13588.44388,451
86,79889,82987, 51788,12689,90187, 637
87,63592,44692.44496,49193,39293,396
24, 76321,85121, 63032, 562
51, 29246, 52647, 81436,16129,86639,10734, 40140, 66942, 55758, 304
72,84458, 40057, 04158, 02665, 45356,198
57, 50963,39263,41364, 05762,82565,453
60,67257, 44357,45263,42261, 42764,007
57,88659, 70362,13561,48756,17856,198
56,19255, 26655,26454,95260,59360,602
41,80735, 56232, 26416, 746
7,7928,70713, 93315, 65127, 515
34, 25328,90812,32821, 47617, 052
20, 24626, 43526,04937, 38534, 92939,169
37,90036,05336,04736,04137, 56134,929
43,01043, 00242, 99536, 72538,96336,421
43,90239,53237,12037,11639,17239,169
39,16635,03235,02735, 02435,02135,013
17, 46118, 59716, 22922,821
28, 03529,97925,70028,66228, 634
28, 61328, 57826, 40727, 65221, 625
12, 63010, 2339,3198,3608,3558,449
8,3578,3578,3568,3558,3558,355
8,3548,3548,3538,3536,1086,108
6,1076,1066,1066,1068,4508,449
8,4488,4488,4478,4468,4468,445
43, 59941, 48141,48134,888
25, 8538,7976,5941,5921,606
3,5304,3514,3497,208
7,65810, 96015, 22114,44416, 32817, 241
16,37816,37216,36316,35016,33916,328
17, 50817, 50517,49117, 48317,47317, 467
19,71819,69319, 63019,61617, 25317, 241
17, 22217, 21017,19917,18417,16717,148
104937
11104
111010
443210
544344
333100
NOTE.—All issues classified to final maturity except partially tax-exempt bonds, which are classified toearliest call date.
Source: Treasury Department.
275
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TABLE C-57.—Federal administrative budget receipts by source and expenditures by functionfiscal years 1939-67 *
[Millions of dollars]
Fiscalyear
1939.__.
1940__-_19411942.___1943-___1944
19451946____19471 9 4 8 —1949.- .
1950-,-.19511952-__.1 9 5 3 —1954
19551956—19571 9 5 8 —1959
19601961 —1962 —1963—.1964
1965—1966 s...1967 5__.
Net receipts
Total
4,979
5,1377,096
12, 54721,94743, 563
44,36239,65039, 67741,37537, 663
36,42247, 48061,28764,67164,420
60,20967,85070,56268, 55067,915
77, 76377, 65981,40986,37689,459
93,072100,000111,000
Indi-vidualincome
taxes
1,022
9591,4003,2056,490
19, 701
18, 41516,15717, 83519,30515, 548
15,74521,64327,91330,10829, 542
28. 74732,18835, 62034, 72436, 719
40,71541,33845, 57147, 58848, 697
48, 79251, 40056, 240
Corpo-rate
incometaxes
1,138
1,1232,0294,7279, 570
14, 737
15,14611.8338,5699,678
11,195
10,44814,10621,22521,23821,101
17, 86120,88021,16720,07417,309
21,49420,95420,52321, 57923,493
25,46129, 70034,400
Excisetaxes(net)
1,861
1,9732, 5553,3934,0934,761
6,2676,9997,2077,3567,502
7,5498,6488,8519,8689,945
9,1319,9299,0558,6128,504
9,1379,0639,5859,915
10,211
10,9119,1698,879
Em-ploy-menttaxes
127
165117154160200
189213314
50235
225234256274283
579322328333321
339(4)
Estateandgift
taxes
357
357403421442507
638669770890780
698708818881934
9241,1611,3651,3931,333
1, 6061,8962,0162,1672,394
2, 7162, 9323,301
Cus-toms
302
331365369308417
341424477403367
407609533596542
585682735782925
1,105982
1,1421,2051, 252
1,4421, 6551,845
Mis-cella-neous
re-ceipts
188
237235286924
3,313
3,4803,4764,6143,8072,069
1, 4221,6201,7941,8592,309
2, 5623,0032, 7603,2003,160
4,0624,0803, 2064,4354,076
4,6195, 7917,047
Inter-fundtrans-actions
- 1 7
— 7— 7—9
- 3 9- 7 3
- 1 1 3— 122- 1 0 9- 1 1 3- 3 3
- 7 3- 8 8
- 1 0 4- 1 5 4- 2 3 5
- 1 8 1- 3 1 5- 4 6 7- 5 6 7- 3 5 5
- 6 9 4- 6 5 4- 6 3 3- 5 1 3- 6 6 4
- 8 7 0- 6 4 7- 7 1 2
Expenditures
Total
8,841
9,05513,25534,03779, 36894, 986
98,30360,32638,92332,95539,474
39,54443,97065,30374,12067, 537
64,38966, 22468,96671, 36980,342
76, 53981, 51587, 78792, 64297,684
96, 507106,428112,847
Na-tional
defense
1,075
1,4986,054
23,97063,21676, 757
81,27743, 22614,39811,77912,926
13,01822,47144,03750,44246,986
40, 69540,72343,36844,23446, 483
45, 69147, 49451,10352,75554,181
50,16356, 56060, 541
Interna-tionalaffairsand
finance
20
51145
1,8393,2993,642
3,3123,1076,5364, 5666,052
4,6743,7362, 8262, 2161, 732
2, 3102,4673,3113,3054,802
3,0643, 9544,3014,1513,687
4,3043,9324,177
See footnotes at end of table.
276
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TABLE G—57.—Federal administrative budget receipts by source and expenditures by function,fiscal years 1939-67—Continued *
[Millions of dollars]
Fiscalyear
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
196519665___1967 5__.
Expenditures—Continued
Spacere-
searchand
tech-nology
122330
3832353849
5462677990
74717689145
401744
1,2572,5524,171
5,0935,6005,300
Agri-culture
andagri-
culturalre-
sources
1,199
1,5381,3141,482
6101,215
1,607747
1,243575
2,512
2,795676
1,0602,9492,564
4,2464,2343,1863,3205,533
3,6063,6674,3385,3115,475
4,8984,3133, 372
Naturalre-
sources2
360
471452533501402
319342548743
1,057
1,206L, 275L; 375,484
L,326
1,2161,1251,3201,5701,705
1,7572,0562,2062,4312,563
2,7502,9205,062
Com-merce
a n dtrans-porta-tion
662
454577
2,6007,2117,725
4,143886655
1,2181,618
1,7591,6251,8881,9261,219
1,2251,8921,3051,6322,025
1,9632,5732,7742,8433,002
3,4993,2022,672
Hous-ingandcom-mu-nity
devel-op-
ment
-148
35129215309316
-185-193
35694
295
268531593396
-628
136- 1 0
-11830
970
122320349
- 6 7- 8 0
-10477
123
Healthlabor,a n d
welfare
3,866
3,0002,5361,9261,132
881
864865
1,1481,2131,433
1,7901,8631,9162,0522,122
2,1652,4622,6323,0593,877
3,6904,2444,5384,7895,475
5,8988,3779,962
Edu-cation
4143474794
15479626867
78103191320326
377343437541732
9431,0761,2441,339
1,5442,3182,834
Veter-ans
bene-fitsand
services
560
552566558606745
2,0954,4157,3816,6536,725
5,4004,9334,3684,341
4,5224,8104,8705,1845,287
5,2665,4145,4035,1865,492
5,4955,1225,721
In-terest
950
1,0561,1231,2721,8252,623
3,6624,8165,0125,2485,445
5,8175,7145,9346,5836,470
6,4386,8467,3077,6897,671
9,0509,1989,98010,765
11, 43512,10412,854
Gen-eralgov-ern-ment
335
370409515825989
8801,0471,3531,2631,054
1,1701,3071,4451,4611,226
1,1661,5761,7381,2841,466
1,5421,7091,8751,9792,280
2,4022,4762,591
Allow-ancefor
con-tin-gen-cies
75350
Inter-fundtrans-actions
-80
-14-101-933-236-433
139955196
-501239
267-793-961-154-235
-181-315-467-567-355
-694-654-633-513-664
-870-647-712
1 For administrative budget surplus or deficit, see Table C-58.2 Beginning with 1952, includes watershed projects of the Soil Conservation Service; these are classified
under "Agriculture and agricultural resources" in the earlier years.3 Includes adjustment to Daily Treasury Statement prior to 1953.* Less than $500,000.5 Estimate.
Sources: Treasury Department and Bureau of the Budget.
277
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-58.—Federal administrative budget receipts and expenditures and the public debt, 1929-67
[Millions of dollars]
Fiscal or calendar year
Fiscal year:1929
1930193119321933193419351936.193719381939 _
1940194119421943 - _19441945. . .1946194719481949
19501951 - -195219531954 _19551956 - - - --195719581959
1960196119621963196419651966 3 _1967 3
Calendar year:1948 . _ - -1949 - _
1950 - _ _19511952 . .1953 --- - - - -1954
19551956 - -195719581959 _ _
1960 - -19611962196319641965 4
Netreceipts i
3,861
4,0583,1161,9241,9973,0153,7063,9974,9565, 5884,979
5,1377,096
12,54721,94743,56344,36239,65039,67741,37537,663
36,42247,48061,28764, 67164,42060, 20967,85070, 56268,55067,915
77,76377,65981,40986,37689,45993,072
100,000111,000
40,80037,464
37, 23552,87764,70563,65460,938
63,11970,61671,74968,26272,738
79, 51878,15784, 70987, 51688,69696, 679
Expendi-tures
3,127
3,3203,5774,6594,5986,6456,4978,4227,7336,7658,841
9,05513,25534, 03779,36894 98698,30360,32638,92332,95539,474
39,54443,97065,30374,12067,53764,38966,22468,96671,36980,342
76,53981,51587,78792,64297,68496,507
106,428112,847
35,55941, 056
37,65756,23670,54772,81164,622
65,89166,83871 15775,34979,778
77,56584,46391,90794,18896,945
101,378
Surplusor
deficit (-)
734
738-462
-2,735-2,602-3,630-2 ,791-4 ,425-2,777-1,177-3,862
- 3 , 918-6,159
-21,490-57,420—51,423-53,941-20,676
7548,419
-1,811
-3,1223,510
-4,017-9,449-3,117-4,180
1,6261,596
-2,819-12,427
1,224-3,856-6,378- 6 , 266- 8 , 226-3,435-6,428-1,847
5,241-3,592
-422-3,358-5,842-9,157-3,683
-2,7713,779
592- 7 , 088- 7 , 040
1,953-6,306-7,199- 6 , 672- 8 , 248- 4 , 699
Publicdebt at end
of year 2
16,931
16,18516,80119,48722, 53927,73432,82438,49741,08942,01845,890
48,49755,33276,991
140,796202 626259,115269,898258,376252,366252,798
257,377255, 251259,151266,123271,341274,418272,825270, 634276,444284,817
286,471289, 211298,645306,466312, 526.317,864320,000321,680
252,854257,160
256,731259,461267,445275, 244278, 784
280,822276,731275, 002283,031290, 925
290,373296,499303,988310, 089318,750321,359
1 Gross receipts less refunds of receipts and transfers of tax receipts to the old-age and survivors insurancetrust fund, the disability insurance trust fund, the railroad retirement account, the unemployment trustfund, and the highway trust fund.
2 Includes guaranteed issues. The change in the public debt from year to year reflects not only the budgetsurplus or deficit but also changes in the Government's cash on hand, and the use of corporate debt andinvestment transactions by certain Government enterprises.
3 Estimate.4 Preliminary.Sources: Treasury Department and Bureau of the Budget.
278
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-59.—Government cash receipts from and payments to the public, 7946-67
[Billions of dollars]
Fiscal or calendar year
Fiscal year:1946 . --194719481949
1950 --_195119521953 -_1954
19551956195719581959 . .-_ .
19601961196219631964
19651966 4
1967 4
Calendar year:1946.. . . .194719481949
19501951195219531954 _-
19551956.. .195719581959 -
19601961 --1962196319641965 6
Total
Cashre-
ceipts
54.255.659.457.2
57.972.188.493.695.2
92.9105.0112.7114.4116.3
133.8138.8146.4158.3167.4
175.6
52.757.259.857,7
60.278.892.693.192.8
97.8109.6116.2115.3123.9
138.6141.0153.3162.8169.1181.8
Cashpay-
ments
70.247.550.056.3
61.465.288.798.695.6
97.2101.3111.5118.0131.8
132.5141.2152.7161.5171.3
176.8
50.850.651.659.7
61.078.193.3
100.195.0
99.9105.0116.4124.8132.8
134.8148.4158.0166.5173.0184.8
Excessof re-ceiptsor ofpay-
ments
-16.08.19.4.8
- 3 . 56.9
- . 3-5 .0- . 5
-4 .33.71.2
-3 .5-15.6
1.3-2 .5- 6 . 3-3 .2-3 .9
-1 .2
1.96.68.1
-2 .0
- . 8.7
- . 7-7 .0-2 .2
—2.14.7
- . 2-9 .5- 8 . 9
3.7-7 .4- 4 . 8- 3 . 8-3 .9-3 .0
Cashre-
ceipts
43.543.545.441.6
40.953.468.071.571.6
67.877.182.181.981.7
95.197.2
101.9109.7115.5
119.7128.2145.5
41.444.344.94,1.3
42.4.59.371.370.268.6
71.480.384.581.787.6
98.397.9
106.2112.6115.0123.4
Federal i
Cashpay-
ments
61.736.936.540.6
43.145.868.076.871.9
70.572.580.083.594.8
94.399.5
107.7113.8120.3
122.4135.0145.0
41.438.636.942.6
42.058.072.077.469.7
72.274.783.489 095.6
94.7104.7111.9117.2120.3127.9
Excessof re-ceiptsor ofpay-
ments
-18.26.68.91.0
-2 .27.6
- 5 . 3- . 2
-2 .74.52.1
-1 .6-13.1
.8- 2 . 3-5 .8-4 .0-4 .8
-2 .7-6 .9
.5
.15.78.0
- 1 . 3
. 51.2
- . 6-7 .2- 1 . 1
— .75.61.1
-7 .2-8 .0
3.6-6 .8—5.7-4 .6-5 .2-4 .5
State and loc
Cashre-
ceipts
10.712.014.015.6
16.918.720.422.123.6
25.127.930.632.534.6
38.741.544.648.551.8
55.9
11.312.914.816.3
17.819.521.322.924.2
26.429.331.733.536.4
40.343.147.150.254.158.4
Cashpay-
ments
8.510.613.515.8
18.219.420.821.823.8
26.728.831.534.537.1
38.241.745.047.751.0
54.4
9.412.014.717.0
19.020.021.322.725.3
27.730.233.035.9.37.3
40.143.746.249.352.756.9
Excessof re-ceiptsor ofpay-
ments
2.21.5.5
- . 2
-1 .3- . 7- . 4
.3- . 2
-1 .6—.9
q—2.0-2 .5
.6- . 2—.5
. 8
.9
1.5
1.9.9.1
- . 7
- 1 . 3- . 5
2- 1 . 1
—1.4- . 9
- 1 . 3- 2 . 3- . 9
.2- . 5
.9
.91.31.5
1 For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June 30, 1967, and Table C-62.
2 Estimated by Council of Economic Advisers from receipts and expenditures in the national incomeaccounts. Cash receipts consist of personal tax and nontax receipts, indirect business tax and nontaxaccruals, and corporate tax accruals adjusted to a collection basis. Cash payments are total expenditures-less Federal grants-in-aid and less contributions for social insurance. (Federal grants-in-aid are thereforeexcluded from State and local receipts and payments and included only in Federal payments.) See TableC-60.
3 Surplus of $49 million.* Estimate.s Deficit of $13 million.6 Preliminary.
Sources: Treasury Department, Bureau of the Budget, Department of Commerce (Office of BusinessEconomics), and Council of Economic Advisers.
279
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G—60.—Government receipts and expenditures in the national income accounts, 1929—65
[Billions of dollars]
Calendar year or quarter
1929—
1930—1931—1932...1933—1934...1935—1936...1937...1938...1939—
1940...1941...1942...1943—1944...1945—1946. _.1947...1948—1949...
1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..
1960. .1961..1962._1963..1964._1965 <_
: I . . .II. _III.IV.
1964:II. .III_IV.
1965: III—III...IV*.
Total government
Re-ceipts
11.3
10.89.5
10.511.412.915.415.015.4.
17.725.032.649.251.253.250.956.858.956.0
68.784.889.894.389.7
100.4109.0115.6114.7128.9
139.8144.6157.0168.3172.7186.9
Ex-pendbtures
10.3
11.112.410.610.712.913.416.115.016.817.6
18.428.864.093.3
103.092.745.542.450.359.1
60.879.093.7
101.296.797.6
104.1114.9127.2131.0
136.1149.0159.9167.1175.1184.7
Sur-plus ordeficit(-)onincome
andprod-
uct ac-count
1.0
- 2 . 9- 1 . 8-1 .4-2 .4-2 .0- 3 . 1
.3- 1 . 8- 2 . 2
- 3 . 8-31.4-44.1-51.8-39.5
5.414.48.5
-3 .2
7.85.8
- 7 . 02.74.9.7
-12.5- 2 . 1
3.7- 4 . 3- 2 . 9
1.2- 2 . 4
2.3
Federal Government i
Re-ceipts
3.8
3.02.01.72.73.54.05.07.06.56.7
8.615.422.939.341.042.539.143.243.3
49.964.067.270.063.872.177.681.678.789.7
96.598.3
106.4114.3114.5124.1
Ex-pendi-tures
2.6
2.84.23.24.06.46.58.77.48.68.9
10.020.556.185.895.584.635.629.834.941.3
40.857.871.077.069.768.171.979.688.991.0
93.0102.1110.3114.0118.3123.5
Sur-plus ordeficit(-)onncomeandprod-
uct ac-count
1.2
.3- 2 . 1- 1 . 5- 1 . 3-2 .9-2 .6- 3 . 6- . 4
- 2 . 1-2 .2
- 1 . 3- 5 . 1
-33.1-46.6-54.5-42.1
3.513.48.4
-2 .4
9.16.2
- 3 . 8-7 .0- 5 . 9
4.05.72.1
-10.2-1 .2
3.5- 3 . 8-3 .8
.3-3 .8
State and localgovernment
Re-ceipts
7.6
7.87.77.37.28.69.18.69.1
10.010.410.610.911.111.612.915.317.619.3
21.123.325.227.228.831.434.738.241.646.0
49.953.658.663.168.674.2
Ex-pendi-tures
Seasonally adjusted annual rates
Sur-plus ordeficit(-) on
incomeandprod-
uct ac-count
7.8
8.48.57.67.28.18.68.18.49.0
9.39.18.88.48.59.0
11.014.317.420.0
22.323.725.327.029.932.735.639.544.046.8
49.654.157.662.267.272.6
165.3167.4168.9171.5
171.4169.6173.5176.5
184.8186.6186.4
(5)
166.8164.7167.2169.1
173.0176.1175.5175.7
180.1181.7187.1189.7
-1 .62.61.72.4
-1 .6-6 .4- 2 . 1
. 8
4.74.9
- . 7(5)
112.4113.9114.5116.2
114.8112.0114.6116.8
123.7124.4122.7
(')
114.9112.1113.9115.1
117.5119.6118.2117.9
120.1120.6125.6127.6
- 2 . 51.8.6
1.2
-2 .6-7 .6-3 .6- 1 . 1
3.63.8
- 2 . 9(5)
61.462.263.865.2
66.468.069.570.5
71.873.275.4(5)
60.561.362.763.9
65.466.867.968.6
70.872.173.274.2
-0.2
- . 8- . 3- . 1
.5
.6
.5
.7
.4
1.31.82.52.72.61.91.0.1
- . 7
- 1 . 2- . 4
(3)
-ill- 1 . 3- . 9
-1 .4- 2 . 3- . 8
.2- . 5
1.41.7
0.9.9.0.3
.0
.2
.5
1.11.12.2
* Preliminary estimates.«Not available.
1 See Note, Table C-61.2 Surplus of $32 million.3 Deficit of $41 million.NOTE.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and
State and local receipts and expenditures. Total government receipts and expenditures have been adjustedto eliminate this duplication.
Data for Alaska and Hawaii included beginning 1960.
Source: Department of Commerce, Office of Business Economics.
280
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-61.—Federal Government receipts and expenditures in the national income accounts,1946-67
[Billions of dollars]
Year or quarter
Fiscal year:194619471948194919501951195219531954195519561957195819591960196119621963196419651966 2
1967 2
Calendar year:19461947194819491950195119521953195419551956195719581959196019611962196319641965 3
Calendarquar ter :1963: I
II.—III.
1964:IVIIIIIIIV
1965: I-II-IIIIV 3
Receipts
Total
Per-sonaltaxandnon-taxre-
ceipts
38.442.743.640.042.060.865.169.365.867.275.880.777.985.494.895.3
104.2110.2115.1119.6128.8142.2
39.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3
106.4114.3114.5124.1
Cor-po-rate
profitstaxac-
cruals
16.918.820.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.254.860.5
17.219.619.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.9
8.310.611.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.625.327.029.331.1
8.610.711.89.8
17.021.518.519.517.020.620.620.218.022.521.721.822.724.526.028.3
Indi-rectbusi-
and
cru-als
7.47.97.98.08.29.59.7
10.710.410.010.811.711.611.913.213.314.215.015.616.815.916.5
7.87.88.08.08.99.4
10.310.99.7
10.711.211.811.512.513.513.614.615.316.116.8
Con-tribu-tionsfor
socialnsur-
5.85.54.64.85.56.67.37.57.88.7
10.211.712.213.816.718.119.922.123.624.628.834.1
5.55.14.54.95.97.17.47.48.19 3
10.612.212.414.817.718.220.523.023.725.2
Expenditures
Total
55.529.530.939.642.444.666.075.874.267.369.876.083.190.991.398.0
106.4111.4117.1118.3131.0142.7
35.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0
102.1110.3114.0118.3123.5
Pur-chases
ofgoodsandserv-ices
40.113.013.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.864.570.774.4
17.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.465.366.7
Transferpayments
Toper-sons
0)8.38.78.1
11.38.18.59.3
10.512.112.814.417.819.820.623.625.126.427.328.232.037.0
9.28.87.68.7
10.88.58.89.5
11.512.413.415.719.520.121.524.925.527.027.829.9
Tofor-
eign-ers
(net)
0)1.82.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12.22.12.22.2
2.21.93.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.2
jrrants-in-aid;o State
andlocal
govern-ments
0.91.51.82.12.42.42.52.82.93.03.23.74.76.2
7.68.49.8
10.912.814.7
1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1
10.411.4
Netin-ter-est
paid
Subsi-dieslesscur-rentsur-plusof
gov-ern-mententer-prises
3.74.24.24.34.44.64.84.85.04.95.15.55.75.97.0
7.58.18.69.09.7
4.24.24.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.88.4
2.1.7.5.8
1.01.31.1.9
1.01.31.72.82.52.42.33.23.83.63.84.14.34.7
1.6.6.7.8
1.21.31.0.8
1.11.52.42.62.72.12.53.84.03.64.34.5
Sur-plusor
defi-cit(-)onin-
comeandprod-uctac-
count
-17.113.212.7
.4- . 516.2
-1.0-6.5-8 .5- . 16.04.7
-5 .1-5.5
3.5-2.7-2 .1-1.2-1.9
1.2-2.2- . 5
3.513.48.4
-2.49.16.2
-3 .8-7.0-5.9
4.05.72.1
-10.2-1.2
3.5-3 .8-3.8
.3-3 .8
.6Seasonally adjusted annual rates
112.4113.9114.5116.2114.8112.0114.6116.8123.7124.4122.7(0
51.251.351.551.950.246.548.149.853.554.853.254.0
23.424.424.625.425.725.926.226.527.728.028.30)
15.215.215.315.515.616.016.416.417.716.716.116.5
22.622.923.23.23.23.
2535
23.92424.24.25
2792
25.8
114.9112.1113.9115.1117.5119.6118.2117.9120.1120. 6125.6127.6
65.463.664.264.465.067.064.964.364.965.766.569.7
27.26.
65
26.727.128.27.27.2729283230.
25672203
2.2.2.2.2.
02321
2.32.2.2.22.2.
10411
8.68.79.49.99.910.310.610.810.811.011.712.0
7.7.7.8.8.8.8.8.
66903254
8.68.78.8.89
3.73. 63.53.53.94.24.44.74.64.54.54.4
-2 .51.8.6
1.2-2.6-7 .6-3 .6-1 .1
3.63.8
-2 .90)
i Not available. 2 Estimate. 3 Preliminary estimates.NOTE.—These accounts, like the cash budget, include the transactions of the trust accounts. Unlike
both the administrative budget and the cash statement, they exclude certain financial transactions. Ingeneral, they do not use the cash basis for transactions with business. Instead, corporate profits taxesare included in receipts on an accrual instead of a cash basis; expenditures are timed with the delivery in-stead of the payment for goods and services; and CCC guaranteed price-support crop loans financedby banks are counted as expenditures when the loans are made, not when CCC redeems them.
Data for Alaska and Hawaii included beginning 1960.Sources: Department of Commerce (Office of Business Economics) and Bureau of the Budget.
281
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-62.—Reconciliation of Federal Government receipts and expenditures in the administra-tive budget and the consolidated cash statement with receipts and expenditures in the national in-
come accounts, fiscal years 1963-67[Billions of dollars]
Receipts or expenditures
RECEIPTS
Administrative budget receiptsPlus: Trust fund receiptsLess: Intragovernmental transactions
Receipts from exercise of monetary authorityEquals: Federal receipts from the public
Less:Coverage differences:
District of ColumbiaOther
Financial transactionsMiscellaneous
Plus:Netting differences:
Contributions to Government employees retire-ment funds
OtherTiming differencesMiscellaneous
Equals: Federal receipts in the national income and productaccounts
EXPENDITURES
Administrative budget expendituresPlus: Trust fund expenditures (including Government-
sponsored enterprises, ne t ) . .Less: Intragovernmental transactions
Debt issuance in lieu of checks and other adjust-ments
Equals: Federal payments to the publicLess:
Coverage differences:District of ColumbiaFederal home loan banks and Federal land banks.Other
Financial transactions:Net lendingNet purchase of foreign currency
Timing differences:Checks outstanding and certain other accounts
MiscellaneousPlus:
Netting differences:Contributions to Government employees retire-
ment fundsOther.
Timing differencesMiscellaneous
Equals: Federal expenditures in the national income andproduct accounts
Fiscal years
1963 1964 1965 1966 1 1967
86.427.74.3
(2)109.7
1.9- 1 . 9
1.7.1
110.2
92.6
26.54.3
1.2113.8
.3
.5
.2
.71.2
.1
.3
1.9- 1 . 9
.4
111.4
89.530.34.2
.1115. 5
2.0- 1 . 9
.4
97.7
28.94.2
2.0120.3
.31.8.2
1.8.9
2.0- 1 . 9
117.1
93.131.04.3
.1119.7
2.2- 1 . 5
.2
119.6
16.5
29.64.3
122.4
.41.2.2
2.2- 1 . 5
1.5.4
118.3
100.033.54.5
.9128.2
2.2- 2 . 1
1.0. 1
128.8
106.4
33.84.5
.7135.0
.4
.4
.3
1.51.0
- . 1.4
2.2- 2 . 1
.4
131.0
111.041.65.51.6
145.5
. 1
.2
. 1
2.2- 2 . 3- 2 . 6
.1
142.2
112.8
37.95.5
.2145.0
.5
.5
- 1 . 41.0
2.2-2.3
142.7
1 Data for 1966 and 1967 are estimates.
2 Less than $50 million.
NOTE.—Data for Alaska and Hawaii included.
Sources: Bureau of the Budget and Department of Commerce (Office of Business Economics).
282Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-63.—State and local government revenues and expenditures, selected fiscal years, 1927-64
[Millions of dollars]
Fiscal year J
1927
19321934.1936...1938
194019421944.19461948
195019521953 . . . .1954
1955 _ „ .1956195719581959
1960196119621963
1962-63 5
1963-64 5
General revenues by source 5
Total
7,271
7,2677,6788,3959,228
10, 41810,90812, 35617, 250
20, 91125,18127, 30729, 012
31, 07334,66738,16441, 21945,306
50, 50554, 03758, 25262, 890
62, 26968, 443
Prop-ertytaxes
4,730
4,4874,0764, f4,440
4,4304,5374,6044,9866,126
7,3498,6529,3759,967
10, 73511, 74912, 86414,04714, 983
16, 40518,00219, 05420, 089
19, 83321, 241
Salesand
grossre-
ceiptstaxes
470
7521,0081,4841,794
1,9822,351
2,9864,442
5,1546,3576,9277,276
7,6438,6919,4679,82910, 437
11, 84912, 46313, 49414, 456
14, 44615, 762
Indi-vidualincometaxes
70
7480153218
224276342422543
788998
1,0651,127
1,2371,5381,7541,7591,994
2,4632,6133,0373,269
3,2673,791
Corpo-ration
netincometaxes
92
7949
113165
156272451447592
817778
744890984
1,0181,001
1,1801,2661,3081,505
1,505
Reve-nuefromFed-eralGov-ern-ment
116
2321,016948800
945858954855
1,861
2,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9547,1317,8718,722
8,66310,002
Allotherreve-nue 3
1,793
1,6431,4491,6041,811
1,8722,1232,2692,6613,685
4,5415,7636,2526,897
7,5848,4659,2529,69910, 516
11, 63412, 56313,48914,850
14, 55515, 952
General expenditures by function '<
Total
7,210
7,7657,1817,6448,757
9,2299,1908.86311, 02817, 684
22, 78726,09827, 91030, 701
33, 72436, 71140, 37544, 85148, 887
51, 87656, 20160,20664, 816
63, 97769, 302
Edu-cation
2,235
2,3111,8312,1772,491
2,6382,5862,7933,3565,379
7,1778,3189,39010, 557
11, 90713, 22014,13415, 91917, 283
18, 71920, 57422, 21624, 012
23, 96526, 533
High-ways
1,7411,5091,4251,650
1,5731,4901,2001,6723,036
3,8034,6504,9875,527
6,4526,9537,8168,5679,592
9,4289,84410, 35711,136
11,15011, 664
Publicwel-fare
151
444889827
1,069
1,1561,2251,1331,4092,099
2,9402,7882,9143,060
3,1683,1393,4853,8184,136
4,4044,7205,0845,481
5,4205,766
Allother *
3,015
3,2692,9523,2153,547
3,8623,8893,7374,5917,170
8,86710, 34210, 61911, 557
12,19713, 39914, 94016,54717, 876
19, 32421,06322, 54924,187
23,44225, 339
1 Fiscal years not the same for all governments. See footnote 5.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust
activities. Intergovernmental receipts and payments between State and local governments are alsoexcluded.
3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation,
housing and urban renewal, local parks and recreation, general control, financial administration, intereston general debt, and other unallocable expenditures.
5 Data for fiscal year ending in the 12-month period through June 30. Data for 1963 and earlier yearsinclude local government amounts grouped in terms of fiscal years ended during ..the particular calendaryear.
NOTE.—Data are not available for intervening years.Data for Alaska and Hawaii included beginning 1959 and 1960, respectively.See Table C-54 for net debt of State and local governments.
Source: Department of Commerce, Bureau of the Census.
283
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CORPORATE PROFITS AND FINANGE
TABLE C-64.—Profits before and after taxes, all private corporations, 1929-65
[Billions of dollars]
Year orquarter
Corporate profits (before taxes) andinventory valuation adjustment
Allin-
dus-tries
Manufacturing
Total
Dur-ablegoods
in-dus-tries
Non-dur-ablegoods
in-dus-tries
Trans-porta-tion,com-
muni-cation,
andpublicutilities
Allother
in-dus-tries
Cor-po-rateprof-itsbe-fore
taxes
Cor-po-ratetaxlia-bil-ity1
Corporate profitsafter taxes
TotalDivi-dendpay-
ments
Un-dis-trib-utedprof-its
I
Corpo-rate
capitalcon-
sump-tion
allow-ances 2
Profitsplus
capitalcon-
sump-tion
allow-ances 3
1929-
1930.1931-1932-1933-1934-1935-1936-1937-1938-
194019411942-1943-194419451946194719481949
195019511952-19531954.19551956195719581959
I96019611962196319641965«
1963:
10.57.02.0
- 1 . 3-1 .2
1.73.45.66.84.96.39.8
15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.7
49.950.355.58.164.573.1
5.23.91.3
- . 5- . 41.12.13.23.82.3
5.59.5
11.813.813.29.79.0
13.617.616.220.924.621.622.019.926.024.24.019.326.324.423.326.628.32.137.3
2.61.5
-1 .0- . 4
.3
.91.71.7.8
1.73.16.47.28.17.44.52.45.87.58.1
12.013.211.711.910.514.312.813.39.3
13.6
12.011.414.115.417.220.
2.62.41.3.5
(4).8
1.11.52.11.61.72.43.14.65.75.95.26.67.8
10.08.18.9
11.49.9
10.19.4
11.811.910.710.012.12.411.912.513.14.916.
1.81.2.5.2
.4
.4
.7
.8
.51.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85.97.0
7.57.98.59.2
10.010.8
3.41.9.2
.91.72.22.12.03.03.75.16.26.76.78.59.9
12.511.612.713.513.312.613.415.215.615.815.918.4
17.919.120.520.222.424.9
10.03.7
- . 4- 2 . 3
1.02.33.66.36.84.07.0
10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.149.750.355.458.664.874.6
1.4.8.5.4.5.7
1.01.41.51.01.42.87.6
11.414.112.910.79.1
11.312.510.417.822.319.420.317.721.621.721.219.023.7
23.023.124.226.027.630.1
8.62.9
- . 9-2 .7
.41.62.64.95.32.95.67.2
10.110.111.111.29.0
15.520.222.718.524.921.619.620.420.627.027.226.022.328.526.727.31.32.637.44.5
5.85.54.12.52.02.62.84.54.73.23.84.04.44.34.44.64.65.66.37.07.28.88.68.68.99.3
10.511.311.711.612.613.413.815.215.817.218.9
2.8-2 .6-4 .9-5 .2
- L 0—. 2
'.4.6
o
L83.25.75.96.66.54.49.9
13.915.611.316.013.011.011.511.316.5
10.815.913.213.516.016.819.925.6
Seasonally adjusted annual ratesI.IIIIIIV
1964: III....,I I I . . .IV _
1965: IIIIllIV s
56.357.659.159.663.664.565.564.971.772.073.5
26.828.729.529.731.932.132.532.337.336.737.3
14.215.416.116.117.517.117.517.120.820.120.7
12.613.413.413.514.415.015.015.316.616.616.6(0
9.19.59.49.9
10.110.210.110.510.511.0
20.619.720.120.421.922.322.822.523.824.925.2
56.158.558.960.864.064.565.365.973.173.974.6
24.926.026.127.027.327.527.828.129.529.830.1(7
31.232.632.833.836.737.037.537.843.644.144.5
15.615.715.816.116.717.117.417.718.018.619.219.9
15.616.817.017.720.019.920.120.025.725.525.3(7)
4.24.34.34.03.83.63.63.63.63.73.73.84.25.05.46.16.44.75.87.07.98.8
10.311.513.215.017.418.920.822.023.5
24.926.230.132.034.036.1
31.031.832.232.833.233.634.334.835.435.836.336.8
12.87.23.51.34.25.26.38.58.96.69.3
11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844.352.0
51.653.561.364.571.280.5
62.264.365.066.669.970.771.872.679.179.880.8
(1 Federal and State corporate income and excess profits taxes.2 Includes depreciation and accidental damages.8 Corporate profits after taxes plus corporate capital consumption allowances.4 Less than $50 million.8 Preliminary estimates.« Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not
available. All other data incorporating or derived from these figures are correspondingly approximate.f Not available.
NOTE.—Beginning 1962 data reflect the new depreciation guidelines issued by the Treasury DepartmentJuly 11,1962, and the investment tax credit provided in the Revenue Act of 1962.
Source: Department of Commerce, Office of Business Economics.
284Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-65.—Relation of profits after taxes to stockholders' equity, and to sales, private manu-facturing corporations, by industry group, 1958—65 1
Year orquarter
19581959
1960196119621963 —1964
1962-1IIIIIIV
1963: I ~IIIIIIV
1964: III - -IIIIV
1965- I - _IIIII
19581959 --_-.--
19601961196219631964
1962: I „IIIIIIV.. _
1963: IIIIII_-.__IV
1964: IIIIIIIV
1965: IIIIII
Allpri-vateman-ufac-tur-ingcor-
pora-tions
Totaldur-able
Lum-berand
woodprod-ucts(ex-ceptfurni-ture)
Fur-litureandfix-
tures
Stone,clay,andglassprod-ucts
Durable goods industries *
Pri-maryironandsteelin-
dus-tries
Pri-marynon-fer-
rousmetal
in-dus-tries
Fab-ri-
catedmetalprod-ucts
Ma-chin-ery(ex-ceptelec-
trical)
Elec-tricalma-
chin-ery,
equip-ment,
andsup-plies
Mo-tor
vehi-clesand
equip-ment
Air-craftand
parts
In-stru-
mentsandre-
latedprod-ucts
Mis-cella-neous
ing/'in(m-
mgord-
nance)
Ratio of profits after Federal taxes {annual rate) to stockholders' equity—percent
8.410.2
9.18.79.6
10.111.4
9.010.39.3
10.5
8.611.010.011.4
10.512.311.212.4
12.113.812.3
4.24.8
4.44.34.54.75.2
4.34.74.44.8
4.25.04.65.1
4.95.55.15.4
5.45.85.4
7.810.1
8.48.09.5
10.011.5
8.910.88.5
10.2
8.211.79.3
11.3
10.613.410.812.2
12.915.312.3
3.94.8
4.03.94.44.55.1
4.24.84.04.5
3.95.04.34.8
4.85.64.95.2
5.56.05.3
5.69.2
3.73.95.78.19.4
1.47.68.44.9
3.79.1
12.67.3
8.112.111.77.9
6.710.712.7
2.84.2
1.71.92.53.33.9
.73.23.42.1
1.73.54.62.8
3.44.54.43.2
2.94.24.7
6.28.5
6.44.87.78.29.8
4.67.2
10.69.1
3.57.9
12.09.6
7.09.0
11.512.8
9.813.014.5
10.012.4
9.68.78.78.69.3
3.711.811.98.0
1.512.911.88.4
4.112.412.59.2
4.612.113.5
7.18.0
7.36.15.46.98.7
7.65.83.45.0
5.19.65.57.8
7.69.48.0
10.1
11.011.58.6
5.97.8
7.27.07.47.69.6
8.28.85.87.3
6.98.16.98.6
9.210.48.4
11.2
11.813.310.4
7.37.8
5.56.07.88.1
10.0
6.39.88.66.9
5.98.9
10.08.3
7.411.011.410.7
11.315.014.1
6.89.6
7.57.78.99.6
12.1
8.110.89.28.2
7.911.19.79.7
10.713.912.912.3
12.015.814.4
9.911.9
9.28.89.79.9
11.0
9.210.49.2
11.0
9.210.29.6
11.2
9.710.811.013.3
11.713.113.2
Profits after taxes per dollar of sales—cents
2.02.7
2.11.62 S2.42.9
1.52.13.12.6
1.12.33.32.6
2.12.63.23.5
2.93.74.0
6.87.9
6.65.85.65.35.6
2.86.96.84.9
1.27.26.55.0
2.86.86.85.5
3.16.77.2
5.45.4
5.14.63.94.85.6
4.94.02.63.8
3.75.84.05.6
5.25.95.16.0
6.26.25.2
4.75.8
5.45.35.55.36.5
5.86.24.55.4
5.05.65.05.7
6.36.75.77.3
7.67.76.7
3.13.2
2.42.53.13.23.7
2.73.83.32.7
2.53.43.73.1
3.04.04.13.7
4.25.14.8
3.74.8
3.94.14.54.75.8
4.35.14.64.1
4.15.14.84.7
5.26.16.05.7
5.76.66.3
3.84.4
3.53.53.73.84.2
3.53.83.64.0
3.53.83.74.1
3.84.04.24.7
4.34.64.7
8.114.1
13.311.315.916,416.8
16.818.39.3
20.6
17.319.69.4
20.6
20.322.59.2
15.5
22.923.510.3
4.06.3
5.95.56.96.97.0
7.17.44.97.8
7.07.64.97.5
7.98.44.76.4
8.18.24.8
12.78.0
7.29.2
12.211.111.9
12.312.711.813.9
10.312.911.510.6
10.412.812.912.6
12.214.716.4
2.41.6
1.41.82.42.32.6
2.32.32.22.6
2.12.62.32.1
2.12.62.92.7
2.73.13.6
10.312.6
11.110.211.911.913.8
9.812.612.013.5
8.811.512.815.0
11.513.915.616.3
14.515.417.3
5.46.5
5.95.45.96.07.2
5.16.16.06.3
4.65.86.56.9
6.27.07.87.4
7.57.58.6
8.09.1
8.99.79.38.79.3
6.87.1
12.111,3
4.68.6
11.010.9
6.07.7
10.313.9
8.710.59.4
3.03.5
3.53.63.43.33.6
2.72.84.33.8
1.93.34.13.8
2.52 .93.84.7
3.63.93.4
* See next page for nondurable goods industries.See footnotes at end of table.
285
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TABLE G—65.—Relation of profits after taxes to stockholders' equity and to sales, private manu-facturing corporations, by industry group, 1958—65 1—Continued
Year or quarter
Nondurable goods industries
Totalnon-dur-able
Foodandkin-dredprod-ucts
To-baccoman-ufac-tures
Tex-tilemillprod-ucts
Ap-pareland
relatedprod-ucts
Paperand
alliedprod-ucts
Print-ingandpub-lish-ing(ex-cept
news-pa-
pers)
Chem-icalsand
alliedprod-ucts
Petro-leumrefin-ing
Rub-berandmis-cella-neousplasticprod-ucts
Leatherand
leatherprod-ucts
1960.1961.1962.1963 _1964.
1962: I .III I I .IV..
1963: II I . . .I I I . .IV...
1964: I . . .I I . .I I I .IV. .
1965: I . . .I I . .I I I .
Ratio of profits after Federal taxes {annual rate) to stockholders* equity—percent
19581959
19601961196219631964
1962: I . . . .II...III..IV..
1963: I . . . .II...III..IV..
1964: I. . . .II...III.IV..
1965: I. . . .II...III.
1958.1959.
9.010.2
9.79.49.8
10.311.3
9.19.8
10.010.8
9.110.410.711.4
10.411.311.712.5
11.412.312.4
8.69.1
8.68.78.78.99.8
7.18.9
10.29.1
7.18.9
10.29.7
8.29.6
11.510.8
9.510.411.6
13.113.1
13.113.412.913.013.1
11.712.913.714.0
11.113.614.414.3
10.614.314.014.6
11.514.314.6
3.57.4
5.84.96.16.18.4
5.36.36.07.3
4.46.26.67.0
5.87.2
10.210.6
9.910.510.9
4.98.6
7.66.99.17.5
11.2
6.77.9
11.311.4
6.46.78.78.9
8.68.5
17.212.4
9.510.815.3
8.09.3
8.47.78.18.09.1
7.48.78.08.3
6.38.47.99.8
8.29.78.8
10.5
8.810.19.9
9.011.0
10.48.3
10.19.2
12.2
7.711.111.610.6
6.39.9
12.77.5
10.313.714.511.8
13.812.415.6
11.113.4
12.111.612.312.914.3
11.513.512.212.5
11.114.312.713.5
13.115.514.015.1
14.516.415.0
9.79.6
9.910.09.9
11.111.2
10.08.89.7
11.8
11.010.311.012.9
11.610.810.512.8
11.611.811.5
8.810.8
8.99.09.39.1
10.4
9.110.98.59.8
8.210.28.89.7
9.111.310.711.4
10.211.711.1
4.44.9
4.84.74.74.95.4
4.44.64.85.0
4.44.95.05.3
5.05.45.45.6
5.45.65.6
Profits after taxes per dollar of sales—cents
2.22.4
2.32.32.32.42.7
1.92.32.72.3
1.92.32.72.5
2.22.63.02.7
2.52.73.0
5.45.4
5.55.75.75.95.9
5.45.55.86.1
5.35.86.16.3
5.36.16.06.2
5.56.06.1
1.63.0
2.52.12.42.33.1
2.22.52.42.8
1.82.42.52.5
2.32.73.73.7
3.73.83.8
1.01.5
1.41.31.61.42.1
1.31.41.91.9
1.21.21.51.6
1.71.62.92.1
1.92.02.7
4.75.2
5.04.74.64.55.1
4.44.94.54.5
3.74.74.45.3
4.75.34.95.5
4.95.45.3
3.14.0
3.62.83.43.24.3
2.63.63.93.4
2.23.44.52.5
3.64.85.03.9
4.94.35.3
7.07.9
7.57.37.47.57.9
7.27.67.37.5
6.88.07.47.7
7.58.27.78.0
7.78.27.9
9.59.5
10.39.7
10.810.9
9.58.89.5
11.0
10.210.010.612.1
10.810.510.312.1
10.911.010.9
3.54.0
3.63.83.73.64.1
3.74.13.43.7
3.43.93.53.6
3.74.34.24.2
3.94.14.1
5.58.26.24.46.96.8
10.4
5.26.40.6
5.84.48.09.3
8.4.9.1
12.012.6
10.910.511.2
1.72.2
1.61.11.81.82.6
1.61.41.62.4
1.51.22.12.3
2.12.42.93.0
2.72.72.7
1 Based on 1957 Standard Industrial Classification.
NOTE.-Data on a comparable basis are not available for earlier periods. For explanatory notes con-
Data for Alaska and Hawaii included for all periods.
Sources: Federal Trade Commission and Securities and Exchange Commission.
286
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G—66.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1954-65
[Billions of dollars]
Sources or use of funds 1954
29.1
23.39.0
-.3
14.6
5.81.63.5.7
-1.0-.22.3
-3.01.8
26.9
20.5
21.41.1
-1.9
6.3-.2
2.1.2
-2.3
-.2.34.71.4
-2.2
1955
53.6
29.213.9
-1.7
17.0
24.51.92.8.73.4(2)8.54.23.0
50.7
29.7
24.0.7
4.9
21.05.2
1.0-.1
4.2
.1
.710.94.0
-2.9
1956
47.2
28.913.2
-2.7
18.4
18.32.33.6.44.8(2)5.3
-2.03.9
44.9
35.0
29.7.4
4.9
9.9-4.2
.2(2)
-4.5
.1
.47.66.0
-2.3
1957
42.0
30.611.8
-1.5
20.3
11.42.46.3.31.2.7.4
-2.32.4
40.7
33.8
32.6.7
.6
6.8-.2
-.4
.3
.23.03.7
-1.3
1958
42.1
29.58.3
-.3
21.4
12.62.15.71.2-.7.24.4
-2.32.1
40.9
26.5
27.51.5
-2.5
14.42.4
1.5.9
(2)
(2).57.53.6
-1.2
1959
55.5
35.012.6
-.5
22.9
20.62.23.01.23.1.44.62,23.8
52.8
35.1
29.21.7
4.1
17.75.6
-1.0-.4
6.6
.5
.86.93.7
-2.8
1960
47.3
34.410.0
.2
24.2
12.91.63.5.71.31.03.2
-2.23.9
42.5
36.7
32.51.2
3.0
5.8-4.1
-.51.3
-5.4
.6
.26.33.5
-4.8
1961
54.5
35.610.2
-.1
25.4
18.92.54.61.7(2).36.71.71.4
52.1
34.9
31.12.3
1.5
17.23.3
1.61.9
-.3
.1
.19.44.4
-2.4
1962
61.0
41.812.4
.3
29.2
19.2.64.62.92.4.73.8.43.8
56.0
42.0
34.33.0
4.7
14.02.4
-2.33.7
.2
.8
.97.82.9
-5.0
1963
63.6
44.313.8
-.4
31.0
19.3-.33.93.42.8.55.31.81.9
60.5
43.6
35.73.7
4.2
16.93.0
-1.93.9
.4
.7
.78.05.2
-3.1
1964
68.0
49.416.7
-.3
32.9
18.61.44.03.43.41.32.4.22.5
64.5
49.6
41.33.7
4.6
14.9.5
-2.63.2
-1.5
1.41.08.94.5
-3.5
1965
Sources, total
Internal sources *Undistributed profits KCorporate inventory
valuation adjust-ment
Capital consumptionallowances l
External sourcesStocksBondsMortgagesBank loans, n.e.cOther loansTrade debtProfits tax l iabil i ty. . .Other liabilities
Uses, total
Purchases of physicalassets
Nonresidential fixedinvestment
Residential structures-Change in business
inventories
Increase in financialassets3
Liquid assetsDemand deposits
and currency. __Time depositsU.S. Government
securitiesFinance company
paperConsumer creditTrade creditOther financial assets_
Discrepancy (uses lesssources)
86.7
55.422.0
- 1 . 5
34.9
31.2.2
6.33.68.61.55.71.63.7
81.7
58.7
49.13.6
6.0
23.0.7
- 3 . 65.0
- 1 . 5
.81.0
11.310.0
- 5 . 0
1 The figures shown here for "internal sources," "undistributed profits," and "capital consumption allow-ances" differ from those shown for "cash flow, net of dividends," "undistributed profits" and "capitalconsumption allowances" in the corporate gross product table for the following reasons: (1) these figuresinclude, and the statistics in the corporate gross product table exclude, branch profits remitted fromforeigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, and thecorporate gross product figures include, the internal funds of corporations whose major activity is farming.
2 Less than $50 million.3 Includes some categories not shown separately.
NOTE.—Includes data for Alaska and Hawaii.
Source: Board of Governors of the Federal Reserve System.
287
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TABLE C-67.—Current assets and liabilities of United States corporations, 1939-65 l
[Billions of dollars]
End of year orquarter
Current assets
a .
ik2$
§§V4 O O
o
Current liabilities
l lNet
work-ing
capi-tal
1939..
1940..1941..1942..1943-1944_.
1945..1946 ..
1947..1948-1949-.
1950_.1951-1952..1953..1954-
1955-.1956-.1957..1958-1959-
1960..1961.1962..1963.1964-.
I—II-III.IV.
1964: I —II-III.IV.
1965; I.-II-III-
54.5 10.8 2.2
60.372.983.693.897.2
97.4108.1
123.6133.0133.1
161.5179.1186.2190.6194.6
224.0237.9244.7255.3277.3
289.0306.8326.7349.9371.0
328.6335.8342.9349.9
350.6356.7364.3371.0
376.4384.3
1.5
13.113.917.621.621.6
21.722.8
25.025.326.5
28.130.030.831.133.4
34.634.834.937.436.3
37.241.142.944.545.0
39.140.340.844.5
40.642.543.145.0
42.543.743.6
2.04.0
10.116.420.9
21.115.3
14.114,816.8
19.720.719.921.519.2
23.519.118.618.822.8
20.120.020.220.619.1
20.820.319.720.6
21.420.219.119.1
18.516.316.0
0.1.6
4.05.04.7
2.7.7
22.1
23.927.423.321.921.8
23.230.0
38.342.443.0
1.12.72.82.62.4
2.32.62.82.82.9
3.13.43.73.63.4
3.53.33.43.6
3.33.03.23.4
3.33.23.6
55.758.864.665.971.2
95.199.4
106.9117.7
126.1135.8146.7159.7173.8
148.9153.3158.1159.7
161.3165.6171.6173.8
177.5182.8188.3
18.0
19.825.627.327.626.8
26.337.6
44.648.945.3
55.164.965.867.265.3
72.880.482.281.988.4
91.895.2
100.9107.3114.3
102.6104.0105.8107.3
108.6109.6111.2114.3
117.3119.7123.4
1.4
1.51.41.31.31.4
2.41.7
1.61.61.4
1.72.12.42.43.1
4.25.96.77.59.1
10.611.412.414.315.5
13.614.615.214.3
15.515.916.115.5
17.218.418.6
30.0
32.840.747.351.651.7
45.851.9
61.564.460.7
79.892.696.198.999.7
121.0130.5
i.l136.6153.1
160.4171.2184.0198.8209.9
184.9189.8194.1198.8
195.9199.6204.9209.9
212.9218.0224.4
0.6.8
2.02.21.8
21.9
22.625.624.024.125.0
24.831.5
37.639.337.5
.41.32.32.22.4
2.32.42.31.71.7
1.81.82.02.52.7
2.32.52.52.5
2.62.62.72.7
2.82.93.1
47.953.657.057.359.3
73.881.584.388.7
105.0112.8121.2131.8140.0
121.7125.3128.1131.8
128.9131.7135.0140.0
141.4145.9150.2
1.2
2.57.1
12.616.615.5
10.48.5
10.711.59.3
16.721.318.118.715.5
19.317.615.412.915.0
13.514.115.016.317.0
14.214.315.316.3
15.615.216.017.0
16.615.917.0
7.17.28.78.79.4
9.711.8
13.213.514.0
14.916.518.720.722.5
25.729.031.133.337.0
40.142.545.748.250.2
46.747.748.348.2
48.850.151.250.2
52.153.254.1
24.5
27.532.336.342.145.6
51.656.2
62.168.672.4
81.686.590.191.894.9
103.0107.4111.6118.7124.2
128.6135.6142.8151.2161.1
143.7146.0148.8151.2
154.7157.1159.4161.1
163.5166.2169.1
1 All United States corporations, excluding banks, savings and loan associations, and insurance companies.Year-end data through 1961 are based on Statistics of Income (Treasury Department), covering virtually allcorporations in the United States. Statistics of Income data may not be strictly comparable from year toyear because of changes in the tax laws, basis for filing returns, and processing of data for compilation pur-poses. All other figures shown are estimates based on data compiled from many different sources, includingdata on corporations registered with the Securities and Exchange Commission. As more complete informa-tion becomes available, estimates are revised.
2 Receivables from and payables to U.S. Government do not include amounts offset against each otheron the corporation's books or amounts arising from subcontracting which are not directly due from or tothe U.S. Government. Wherever possible, adjustments have been made to include U.S. Governmentadvances offset against inventories on the corporation's books.8 Includes marketable securities other than U.S. Government.
Source: Securities and Exchange Commission.
288
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TABLE C-68.—State and municipal and corporate securities offered, 1934-65 l
[Millions of dollars]
Year or quarter
Stateand
munici-pal se-curitiesofferedfor cash
(prin-cipal
amounts)
Corporate securities offered for cash 2
Gross proceeds3
TotalCom-monstock
Pre-ferredstock
Bondsand
notes
Proposed uses of net proceeds4
Total
New money
TotalPlantand
equip-ment
Work-ing
capi-tal
Retire-mentof se-
curities
Otherpur-
1934
193519361937.19381939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964. . . . . .
1965 5
1963: I . . .II—III.IV.
1964: I . . .II...III.IV.
1965: I . . .II__III.IV6
1,2321,121
9081,1081,128
1,238956524435661
7951,1572,3242,6902,907
3,5323,1894,4015,5586,969
5,9775,4466,9587,4497,681
7,2308,3608,55810,10710,544
11,055
2,7982,8891,9672,453
2,6612,7642,6422,478
2,7462,9912,6942,623
397
2,3324,5722,3102,1552,164
2,6772,6671,0621,1703,202
6,0116,9006,5777,0786,052
6,3617,7419,534
9,516
10,24010,93912,88411, 5589,748
10,15413,16510,70512,23713,957
15,821
2,7003,6342,4363,466
2,5484,9652,8763,568
3,0075,0433,9123,859
19
222722852587
1081103456163
397891779614736
8111,2121,3691,3261,213
2,1852,3012,5161,3342,027
1,6643,2941,3141,0222,679
1,535
222344208249
2621,735357324
297665231342
862714068698
183167112124369
7581,127762492425
631838564489816
635636411571531
409450422342412
724
658179117
3815413783
132255151186
372
2,2244,0281,6182,0441,980
2,3862,390917990
2,670
4,8554,882
5,9734,890
4,9205,6917,6017,0837,488
7,4208,0029,9579,6537,190
8,0819,4208,96910,87210,865
13, 561
2,4143,2092,1493,100
2,2483,0762,3823,160
2,5784,1233,5293,331
384
2,2664,4312,2392,1102,115
2,6152,6231,0431,1473,142
5,9026,7576,4666,9595,959
6,2617,6079,3808,7559,365
10,04910,74912,66111,3729,527
9,92412,88510,50112,08113,792
15,610
2,6653,5872,4043,425
2,5184,9112,8373,526
2,9724,9773,8693,792
57
208858991681
569868474308657
1,0803,2794,5915,9294,606
4,0066,5318,1807,9606,780
7,9579,66311, 7849,9078,578
8,75810, 7158,2408,99311,233
12,897
2,0672,4251,8842,617
2,0864,4412,0772,629
2,4274,1643,1773,129
32
111380574504170
424661287141252
2,1153,4094,2213,724
2,9665,1106,3125,6475,110
6,7099,0407,7926,084
5,6627,4135,6525,4057,003
7,637
1,4531,5381,0161,397
1,1493,2301,2191,405
1,5202,3242,1041,689
26
96478417177155
145207187167405
4421,1641,1821,708882
1,0411,4211,8682,3131,670
2,6242,9542,7442,1152,494
3,0973,3032,5883,5884,230
5,261
614887868
1,220
9371,211858
1,224
9071,8401,0731,441
231
1,8653,3681,1001.2061,695
1,8541,583396739
2,389
4,5552,8681,352307401
1,271486664260
1,875
1,227364214549135
271868754
1,528754
943
314740295179
103173216262
234188336185
95
19320414822295
192172173100
267610524722952
984589537535709
864721663915814
8951,3021,5071,5611,805
1,770
285422225629
330297544635
311625356478
1 These data cover substantially all new issues of State, municipal, and corporate securities offered forcash sale in the United States in amounts over $100,000 and with terms to maturity of more than 1 year.
2 Excludes notes issued exclusively to commercial banks, intercorporate transactions, sales of investmentcompany issues, and issues to be sold over an extended period, such as offerings under employee-purchaseplans.
3 Number of units multiplied by offering price.* Net proceeds represents the amount received by the issuer after payment of compensation to distribu-
tors and other costs of flotation.5 Preliminary.
NOTE.—Data for Alaska and Hawaii included for all periods.
Sources: Securities and Exchange Commission, The Commercial and Financial Chronicle, and The BondBuyer.
289
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TABLE C—69.—Common stock prices, earnings, and yields, and stock market credit, 1939-65
Year or month
Standard & Poor's common stock data
Price index»
Total Indus-trial
Publicutilities
Rail-roads
Divi-dend
yield 2
(per-cent)
Price/earn-ings
ratio 3
Stock market credit
Customer credit (excludingU.S. Government
securities)
TotalNet
debitbal-
ances *
Bankloans
to"others" 5
Bankloans tobrokers
anddealers«
1941-43=10 Millions of dollars
1939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651964: Jan_._
Feb . .Mar._Apr . .May .June..July. .Aug..Sept..Oct.. .Nov_.D e c .
1965: Jan. . .Feb . .Mar..Apr. .May.June..July..Aug-.Sept..Oct...Nov..D e c .
12.0611.029.828.67
11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.73
40.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1776.4577.3978.8079.9480.7280.2483.2282.0083.4184.8585.4483.9686.1286.7586.8387.9789.2885.0484.9186.4989.3891.3992.1591.73
11.7710.699.728.78
11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1993.4880.8581.9683.6484.9285.7985.1388.1986.7088.2789.7590.3688.7191.0491.6491.7593.0894.6990.1989.9291.6894.9397.2098.0297.66
16.3415.0510.937.74
11.3412.8116.8420.7618.0116.7717.8719.9620.5922.8624.0327.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969.9176.0867.2667.2066.7867.3067.2967.4670.3571.1772.0773.3774.3974.2475.8777.0476.9277.2477.5074.1974.6374.7176.1076.6976.7275.39
9.829.419.398.81
11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.0930.3132.8330.5637.5845.4646.7841.0041.5442.8843.2744.8646.2948.9347.1747.1448.6948.0145.7546.7946.76
46.6345.5342.5243.3146.1346.9648.4650.2351.03
4.055.596.827.244.934.864.173.854.935.546.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.063.053.033.003.013.052.963.033.002.952.963.052.992.992.992.952.923.073.093.062.982.912.963.06
13.8010.248.268.80
12.8413.6616.3317.699.366.906.646.639.27
10.479.69
11.2511.5014.0512.8916.6417.0517.0921.0616.6817.6218.08
(7)
8(7)1,374
9761,032
9681,2491,7981,8261,9802,445
18.16
17.61
17.87
18.67
17.69
15.93
17.16
4,0303,9843,5764,5374,4614,4155,6025,4947,2427,053(7)
7,2507,1207,1417,3147,2777,2297,1607,0967,1427,1017,1087,0536,9406,8726,9417,0017,0857,0846,8336,8747,0367,1177,304
)
0)
333>
942473517499821
1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,079
(7)5,5245,3845,3665,5105,4395,3705,2895,1875,2215,1855,1605,0794,9865,0075,0555,0665,1295,1144,8634,8864,9945,0735,209
(7)
o
353432503515469428561573648780
1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271,9742,1841,7261,7361,7751,8041,8381.8591,8711,9091,9211,9161,9481,9741,9541,8651,8861,9351,9561,9701,9701,9882,0422,0442,0952,184
715584535850
1,3282,1372,7821,471
7841,3311,6081,7421,4192,0022,2482,6882,8522,2142,1902,5692,5842,6143,3984,3524,7544,6314,1374,0953,8624.0424,0474,3174,6544,4433,9894,7943,8784,1334,6314,0113,8514,4344,5714,4955,3253,6733,7103,323
3,7344,137
1 Includes 500 common stocks, 425 are industrials; 50 are public utilities; and 25 are railroads. Annualdata are averages of monthly figures and monthly data are averages of daily figures.
2 Aggregate cash dividends (based on latest known annual rate) divided by the aggregate monthly marketvalue of the stocks in the group. Annual yields are averages of monthly data.
3 Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter.Annual ratios are averages of quarterly data.
4 As reported by member firms of the New York Stock Exchange carrying margin accounts. Includesnet debit balances of all customers (other than general partners in the reporting firm and member firms ofnational exchanges) whose combined accounts net to a debit. Balances secured by U.S. Governmentobligations are excluded. Data are for end of period.
5 Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except U.S. Government obligations. From 1953 through June 1959, loans for purchasing orcarrying U.S. Government securities were reported separately only by New York and Chicago banks.Accordingly, for that period any loans for purchasing or carrying such securities at other reporting banksare included. Series also revised beginning July 1946, March 1953, July 1958, and April 1961. Data are forlast Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.
8 Loans by weekly reporting member banks for purchasing or carrying securities, including U.S. Govern-ment obligations. Series revised beginning July 1946, January 1952, July 1958, July 1959, and April 1961.Data are for last Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.
7 Not available.Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New
York Stock Exchange.
290
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T A B L E C-70.—Business population and business failures, 1929-65
Year or month
Index ofnet busi-
nessformation(1957-59=
100) i
Newbusinessincorpo-rations(num-ber) a
Business failures»*
Busi-
failurerate*
Number of failures
TotalUnder
$100,000
Liability sizeclass
$100,000andover
Amount of currentliabilities (millions of
dollars)
Total
Liability size
UnderUOO.OOO
$100,000andover
1929..1930..1931-1932-1933-1934-1935-
1937—1938...1939-1940..1941-1942-1943-1944-1945-1946-1947-1948-1949-1950..1951-1952..1953-1954-1955-1956..1957..1958-1959-1960196119621963 8196419651964: Jan__
Feb._Mar..
May~June.
July..Aug..Sept..Oct_.N o v -Dec._
1965: Jan . .Feb__Mar._Apr..May.June.July.Aug..Sept.Oct__Nov.D e c .
123.196.7
102.3102.8108.0103.599.8
107.6103.298.397.1
104.699.895.498.0
100.6104.4
« 106.1108.1102.8102.9103.7105.3103.9104.0103.6104.8106.6105.8106.8107.5107.6106.1105.8105.0106.8106.4106.4105.3105.1105.9
132,916112,63896,10185,49192,92583,64992,819
102,545117,164139,651140,775136,697
M50,280193,067182,713181,535182,057186,404197,724
16,25016,01815,99216,18015,91715,91915,97916,07416,60516,49817,10317,15417,27517,36717,11216,50416,04316,67116,36916,95717,18816,74417,418
103.9121.6133.4154.1
« 100.361.161.747.845.961.1
•69.663.054.544.616.46.54.25.2
14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.363.965.366.661.849.463.2
64.959.166.350.760.348.262.861.754.860.854.160.1
52.856.969.751.551.4512
22,909
26,35528,28531.82219,85912,09112,2449,6079,49012,83614,768
13,61911,8489,4053,2211,222809
1,1293,4745,2509,246
9,1628,0587,611
11,08610,96912,68613,73914,96414,053
15,44517,07515,78214,37413,50113,514
1,2171,2411,3201,1971,0751,1571,0961,1691,0341,060967968
1,1371,1141,3321,1791,1831,094
1,0741,1311,1001,0471,0331,090
22,165
25,40827,23030,19718,88011,42111,6919,2859,20312,55314,541
13,40011,6859,2823,1551,176759
1,0023,1034,853
8,7467,6267,0818,07510,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,340
9921,0501,139969914
1,003
9081,018837893810813950930
1,0971,0301,001881
906965893912
744
9471,0551,625•979670553322287283
•227219163123664650127371397538416432530787860856
1,0711,1921,4651,3461,7952,0692,0102,1822,1552,174225191181228161154188151197167157155187184235149182213168166207135140208
483.3668.3736.3928.3457.5334.0310.6203.2183.3246.5
« 182. 5166.7136.1100.845.331.730.267.3204.6234.6308.1248.3259.5283.3394.2462.6449.4662.7615.3728.3692.8
1,090.11,213.61,352.61,329.21,321.7
96.7123.9111.0112.993.4
144.5125.695.2
114.693.8
119.398.289.3
112.0146.683.2
133.1144.6121.5135.0105.082.171.797.6
261.5303.5354.2432.6
• 215.5138.5135.5102.8101.9140.1
« 132.9119.9100.780.330.214.511.415.763.793.9
161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.727.929.230.426.225.127.624.528.922.325.422.423.726.725.631.128.928.225.025.828.025.524.925.526.3
221.8364.8382.2495.7
• 242.0195.4175.1100.481.4
106.4•49.7
46.835.420.515.117.118.851.6
140.9140.7146.797.1
128.0151.4226.6251.2243.0322.9348.2430.7413.6611.4720.0867.1
1,031.61,015.61,000.0
68.994.780.686.668.3
116.9101.166.392.368.397.074.562.586.3
115.454.3
104.9119.695.7
107.079.457.246.271.3
1 Monthly data are seasonally adjusted.2 Total for period. Monthly data are seasonally adjusted.* Total for period.* Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933,
of real estate, insurance, holding, and financial companies, steamship lines, travel agencies, etc.« Failure rate per 10,000 listed enterprises. Monthly data are seasonally adjusted.« Series revised; not strictly comparable with earlier data.7 Includes data for Hawaii beginning 1959 and Alaska beginning 1960. (Data for 1958 comparable to 1959
are 150,781; data for 1960 comparable to 1959 are 182,374.)s Includes data for District of Columbia beginning 1963.»Preliminary.Sources: Department of Commerce (Bureau of the Census) and Dun & Bradstreet, Inc.
29I
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AGRICULTURETABLE G-71.—Income from agriculture, 1929-65
Year orquarter
1929
193019311932193319341935 - -1936193719381939
1940194119421943194419451946194719481949
195019511952195319541955195619571958,1959
196019611962-196319641965 8
1964" IIIIIIIV
1965: IIIIIIIVs
Personal incomereceived by totalfarm population
Fromall
sources
Fromfarm
sources
Fromnon-farm
sources1
Income received from fanning
Realized gross
Total 2
Cashreceipts
frommarket-
ings
Produc-tion ex-penses
Net to farmoperators
Exclud-ing netinven-tory
change
Includ-ing netinven-tory
change3
Billions of dollars
5.47.77.29.07.27.4
7.610.114.116.516.617.220.021.123.819.5
20.422.722.119.818.417.617.817.719.518.1
18.719.019.218.717.920.0
3.25.44.66.24.74.8
4.86.8
10.112.112.212.815.515.818.013.3
14.116.215.413.412.511.411.211.012.811.0
11.412.112.212.011.113.2
2.22.32.62.72.52.6
2.83.33.94.44.44.44.65.35.86.2
6.36.56.76.45.96.26.66.66.77.0
7.26.97.06.76.86.8
13.9
11.58.46.47.18.69.7
10.811.410.110.6
11.113.918.823.424.425.829.534.134.731.6
32.337.136.835.033.633.134.334.037.937.5
37.939.641.142.142.244.4
11.3
9.16.44.75.36.47.18.48.97.77.9
8.411.115.619.620.521.724.829.630.227.8
28.532.932.531.029.829.530.429.733.533.5
34.034.936.237.336.938.9
7.7
6.95.54.54.44.75.15.66.25.96.3
6.97.8
10.011.612.313.114.517.018.818.0
19.422.322.621.321.621.922.423.325.226.1
26.227.028.529.629.230.3
6.3
4.52.91.92.73.94.65.15.24.24.3
4.26.18.8
11.812.112.815.017.115.913.6
12.914.814.113.712.011.211.910.712.711.4
11.712.612.512.512.914.1
6.2
4.33.32.02.62.95.34.36.04.44.4
4.56.59.9
11.711.712.315.115.417.712.8
13.716.015.113.112.511.511.411.313.511.5
12.012.913.113.112.114.4
Net income perfarm, includingnet inventory
change
Currentprices
1965prices 4
Dollars
945
651506304379431775639905668685
7061,0311,5881,9271,9502,0632,5432,6153,0442,233
2,4212,9462,8962,6262,6062,4632,5352,5903,1892,795
3,0433,3893,5623,6713,4864,280
i son
1,3851,265
8691,0531,0781,9381,5982,1551,670
7*>fi
1,8102,4553,2433,5693,4213,4383,8533,3533,7122,827
3,0263,3483,2542,9842,9612.7672,8172,7863,4292,973
3,2033,5673,7103,7853,5584,280
Seasonally adjusted annual rates
42.142.342.342.1
42.245.044.845.5
36.937.037.036.7
36.739.539.340.0
29.529.329.229.0
29.730.230.331.1
12.613.013.113.1
12.514.814.514.4
12.012.112.112.3
12.114.615.115.6
3,4603,4803,4803,540
3,5904,3304,4804,620
3,5303,5503,5503,610
3,6304.3304,4804,620
1 Includes all income received by farm residents from nonfarm sources such as wages and salaries fromnonfarm employment, nonfarm business and professional income, rents from nonfarm real estate, dividends,interest, royalties, unemployment compensation and social security payments.2 Cash receipts from marketings, Government payments, and nonmoney income furnished by farms.3 Includes net change in inventory of crops and livestock valued at the average price for the year.
* Income in current prices divided by the index of prices paid by farmers for family living items on a1965 base.
* Preliminary.Source: Department of Agriculture.
292
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-72.—Farm production indexes, 1929-65
[1957-59=100]
Year
1929-..
1930.-.1931.--1932.. .1933.--1934...
1935-.-1936...1937..-1938--.1939...
1940--.1941.--1942...1943...1944...
1945...1946...1947...1948...1949...
1950 _ -1951_-1952.-1953_-1954_-
1955.-1956.-1957...1958.-1959.-
1960.-1961...1962...1963.-1964,__
1965 *_
Farmout-put i
62
6166645951
6155696768
7073828083
8184818887
8689929393
969795102103
106107108112112
116
Total 2
73
6977736554
7059817675
7879898388
8589859792
8991959493
969593104103
108107107112110
117
Feedgrains
62
5663735633
6038676565
6671817478
7582639180
8175797781
868593101106
1099910011097
113
Hayandorage
79
6672746964
8266758175
8686939190
9387848483
8992909292
989410110297
103102105105105
111
Foodgrains
68
7479634745
5554747763
6979837288
929511110792
868510910088
83878212197
11510698102114
117
Crops
Vege-tables
73
7475767380
8175828181
8384899792
94105919794
9689909593
9610298102100
103110108108106
112
Fruitsandnuts
75
7392757671
9070938496
9399988498
891061019298
98100979899
9910394102104
9810998102113
115
Cot-ton
120
11313810510578
861011549796
1028810593100
747197122131
82124124134111
1201088993118
116116121125123
122
To-bacco
88
9589588063
76689180110
84738181113
114134122115114
117135130119130
12712696100104
112119134135129
110
Oilcrops
13
1414131113
2116182229
3437566050
5452556761
7165636371
78929111198
105122123128129
155
Livestock and products
Total»
63
6465666761
5963626570
7175849186
8683828085
8892929396
99999799104
102106107111113
112
Meatani-mals
62
6366677059
5360586371
7276879788
8482817983
8995959498
1031009698106
103106108114116
112
Dairyprod-ucts
75
7678797978
7879798182
8489929192
9594939093
9392929798
9910110110099
101103104103104
104
Poul-try*andeggs
44
4544444441
4144444548
4954627171
7469686774
7881828487
869495101104
104112111115118
122
1 Farm output measures the annual volume of farm production available for eventual human use throughsales from farms or consumption in farm households. Total excludes production of feed for horses andmules.
2 Includes production of feed for horses and mules and certain items not shown separately.3 Includes certain items not shown separately.4 Preliminary.
Source: Department of Agriculture.
293
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—73.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-65
[1957-59=100]
Year or month
1929
193019311932 .1933-1934__ __19351936 .19371938 _1939 ..
1940 . „ .1941 _19421943 - .1944 _194519461947 „_--19481949 _ .
1950195119521953195419551956195719581959 . —
I96019611962196319641965 7
1964- JanFebMarApr .MavJune
July ... —AugSeptOctNovDec
1965* JanFebMar . -_AprMayJune
JulyAugSeptOct . .-Nov _ .Dec
Prices received by farmers
Allfarmprod-ucts *
61
52362729374547514039
425166
«80•82«86«98114119103
10712511910510296959710499
999910110098102
10110099989896
969698989797
989899101104106
105103103103103107
Crops
Allcrops1
61
52342632444649533637
414865848991102118114100
10411912010810810410510110099
99102104107106104
109109108110111108104101103104105105
1051051061091111091061001009998100
Foodgrains
55
44272131434651573534
40465770788195128118103
1061151161111101071061069896
96991071069077
10910810210610380
777677787979797978777675
767676777980
Feed grainsand hay
Total
74
67463136606865794546
54587296108106127161162112
1221431471301281161151059798
959597103105109
105103105106106106
103103107104101108
11011111211311511311210810810198105
Feedgrains
77
68442836607068844544
54587397109104131171170109
1231471501321301161161059798
93949510110210610199101103104105
102101105101981051061071081101121131111071069994101
Cot-ton
57
40241926393838362728
3243606466699110510494
10812911910210510410310197102
9710010410410094
9898101102104106
10599991009795
898993959698
979395959490
To-bacco
35
29201822323533413631
28325166727478777882
8390898991909396100104
103109109102101105101101101101101101
100101100103102102
101103103103103103
103105110109109113
Oil-bear-ingcrops
62
48321925455552564242
4560808897100114158153106
1201481291221331091111069896
93112108113112116117115114110107107
108106111114115119120123123123119120
118113107107107111
Livestock and products
Alllive-stockandprod-ucts 1
62
52382827324446494341
42536677768294111122106
10813011910497908894106100
9898999591101949392898787
9192959391919293939599103
104105105106106112
Meatani-mals
50
43302019223838423736
3546606662
•67
107117101
1101331159492807689109102
96971019488104
898890878686
898991878485
88919295104112
112112108108108116
Dairyprod-ucts
65
55433334404549514543
475563
8 868 89«10410611798
9711211810496969910199100
101101999910010110310199959292
959810310710710610410210097949396100104108109109
Poul-
andeggs
102
81625147567473706961
627796121112126127141153140
11814413014011312111210210890
1019292929092
999491868485
889293919188868788918687
9092959597104
See footnotes at end of table.
294
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-73.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-65—Continued
Year or month
19291930 .1931193219331934193519361937193819391940194119421943 -_1944194519461947194819491950195119521953195419551956195719581959I96019611962196319641965 7
1964: JanFebMarAprMayJuneJuly .„Aug -_ -SeptOctNovDec
1965: Jan...FebMarAprMayJuneJulyAugSeptOctNov . __.Dec
[1957-59 = LOO]
Prices paid by farmers
Allitems,in-
terest,taxes,andwagerates(parityindex)
5552443837414242454242424552586265718289868796989595949598100102102103105107107110
107107107107107107107107107107107107108109109109110110110110110110110111
Allterns
5551443838434545484544
454855616466728592889010010096969596981011011011011031041041061041042222 2
104104104104104105105105106107107107106106106106107
Commodities and services
Fam-ilyivingterns
5450433738434343454342424552586164718388858694959494959699100101102102103104105107104105105105105105105105105105105105106106106106108107107107107107107108
Allproduc-tion
items *
565243383844C
DC
OC
474647505763666773859591941041049797969598100102101101103104103105104103104104103103103103103103103103104104104105106106106106106105105106
Production items
Feed
6861433237525355624747505466788786100118125103105118126114113106103101991009898100104103104106105104104103102101101103103102104104104104105105105104104104103102103
Motorve-
hicles
3635353434363738394240404245475153556371787883878686878996100104102102105109111113
111
111111
110110111112
113
115114
111111113
Farmma-chin-ery
4343424039404142434443
434346484949515867767883868787879296100104107110111113116119
115
116"
118
118
118
119
121
Fer-til-izer
85837566616968646767666464717677797988969894100102103102101100100100100100100100100100100
10099
99
100
100
100100
100
100
In-ter-ests
11611310810190807468646058565451464341404243454954596368748391100109120131145162181204182182182182182182182182182182182181204204204204204204204204204204204204
Taxes 3
5657565144383636363837383838373739434856606568717477o3$o§
100107117125132139147155146146146146146146146146146146146147155155155155155155155155155155155155
Wagerates4
323024181517182022222222263445546266727674738187888889929699105109110114116119125116116116121121121121121121119119119122122122126126126125125125128128128
Par-ity
ratios
9283675864758892937877
819310511310810911311511010010110710092898483828582807980787677787777757574747476767575747575767879787878777780
1 Includes items not shown separately.2 Interest payable per acre on farm real estate debt.a Farm real estate taxes payable per acre (levied in preceding year).< Monthly data are seasonally adjusted.s Percentage ratio of prices received for all farm products to parity index, on a 1910-14 = 100 base.6 Includes wartime subsidy payments.7 Preliminary.Source: Department of Agriculture.
295
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C—74.—Selected measures of farm resources and inputs, 1929-65
Year
Cropsharvested(millionsof acres) l
Total
Exclu-sive ofuse forfeed forhorses
andmules
Live-stockbreed-
ingunits(1957-59=100)2
Man-hours
offarmwork(bil-
lions)
Index numbers of inputs (1957-59=100)
Total Farmlabor
Farmreal
estate 3
Me-chani-
calpowerandma-
chinery
Ferti-lizerandlime
Feed,seed,andlive-stockpur-
Miscel-laneous
1929.
1930.1931.1932.1933.1934.
1935.1936.1937.1938.
1940..1941..1942..1943..1944..
1945..1946..1947..1948..1949.
1950..1951..1952..1953.1954.
1955.1956.1957.1958.1959.
1960.1961-1962..1963-1964.
1965 8
365
369365371340304
345323347349331
341344348357362
354352355356360
345344349348346
340324324324324
324303295300301
302
298
304303311281247
269295301286
298304309320326
322323329332338
326326334335335
330315316317318
319299291296297
298
8690878793
9594104117114
109107104
102103103100104
10610410199100
100101
101
23.2
22.923.422.622.620.2
21.120.422.120.620.7
20.520.020.620.320.2
18.818.117.216.816.2
15.115.214.514.013.3
12.812.011.110.510.3
9.59.18.88.4
8.2
949194
9797100101101
100101
101104103103102
1021019999102
101101101102103
104
218
216220213212190
198192208193194
192188194191190
177170162158152
142143136131125
1201131049997
9289858379
77
100
10099100100100
100100101101102
100
92969798
999910099101
100979799101
101
90919497109
110116124141155
166
9193101106
109123121124123
124
76
76787976
6668687072
7374757676
7677787482
85
9191
949895100105
106109113115120
124
* Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.2 Animal units of breeding livestock, excluding horses and mules.3 Includes buildings and improvements on land.« Nonfarm inputs associated with farmers' purchases.s Preliminary.Source: Department of Agriculture.
296
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-75.—Farm population, employment, and productivity, 7929-65
Year
1929..
1930..1931..1932..1933..1934..
1935..1936..1937..1938..1939_.
1940..1941..1942.1943..1944.
1945..1946.1947.1948.1949.
1950..1951..1952..1953..1954..
1955..1956..1957.,1958.1959.
1960.1961.1962.1963.1964.1965 5
Farm popu-lation
(April 1) i
Num-ber
(thou-sands)
30,580
30,52930,84531,38832,39332,305
32,16131,73731,266
30,840
30, 54730,11828,91426,18624,815
24,42025,40325,82924,38324,194
23,04821,89021,74819,87419,019
19,07818,71217,65617,12816,592
15,63514,80314,31313,36712,95412,400
As per-cent oftotal
popu-lation 2
25.2
24.924.925.225.825.5
25.324.824.223.823.5
23.122.621.419.217.9
17.518.017.916.616.2
15.214.213.912.511.7
11.511.110.3
8.78.17.77.16.86.4
Farm employment(thousands) a
TotalFamily
workers
12,763
12,49712,74512,81612,73912,627
12,73312,33111.97811,62211,338
10.97910,66910,50410,44610,219
10,00010,29510,38210,3639,964
9,5469,1498,8648,651
8,3817,8527,6007,5037,342
7,0576,9196,7006,5186,1105,609
Hiredworkers
9,360
9,3079,6429,9229,8745,765
9,8559,3509,0548,8158,611
8,3008,0177,9498,0107,988
7,8818,1068,1158,0267.712
7,5977,3107,0056,7756,570
6,3455,9005,6605,5215,390
5,1725,0294,8734,7384,5064,125
3,403
3,1903,1032,8942,8652,862
2,8782,9812,9242,8072,727
2,6792,6522,5552,4362,231
2,1192,1892,2672,3372,252
2,3292,2362,1442,0892,081
2,0361,9521,9401,9821,952
1,8851,8901,8271,7801,6041,484
Farm output
Perunitof
totalinput
Per man-hour
Total Crops Live-stock
Croppro-duc-tionper
acre4
Index, 1957-59=100
Live-stockpro-
ductionper
breed-ingunit
63
6369696559
6962737472
7275827982
8285828886
8586899091
949696103101
105106107110109112
28
2830302827
3129333535
3639424244
4649505657
6162687174
808691103106
115120127135141151
28
2730302727
3128333534
3739434144
4650505757
6361676973
778390105105
114119124132133148
48
4747474643
4446464850
5051565856
5859616266
6872747680
858992100108
113120127137147149
69
6472686151
6656767374
7677867883
8286829285
8485908988
919293105102
109113116119117124
7070696862
70717575
7580817875
79787982
8689899392
939596
100104
105108108111112111
1 Farm population as denned by Department of Agriculture and Department of Commerce, i.e., civilianpopulation living on farms, regardless of occupation.
2 Total population of United States as of July 1 includes armed forces abroad and Alaska and Hawaiibeginning January and August 1959, respectively.
3 Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Statistical Reporting Service, differ from those on agricultural employment by the Departmentof Labor (see Table C-21) because of differences in the method of approach, in concepts of employment,and in time of month for which the data are collected. For further explanation, see monthly report onFarm Labor, September 10, 1958.
* Computed from variable weights for individual crops produced each year.5 Preliminary.
Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
297
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-76.—Comparative balance sheet of agriculture, 7929-66
[Billions of dollars]
Beginningof year
Assets
Total Realestate Live-
stock
Other physical assets
Ma-chin-eryand
motorvehi-cles
Crops2
House-holdfur-
nish-ingsand
equip-ment
Financial assets
Depos-itsandcur-
rency
U.S.savingsbonds
Invest-mentin co-opera-tives
Claims
Total Realestatedebt
Otherdebt
Pro-prie-tors'equi-ties
1929-
1931-.1932...1933-1934-.
1935-1936-.1937.-
1939..
1945-1946.1947.1948.1949.
1950.1951.1952.1953.1954.
19551956195719581959
1960.1961-.1962_.1963.1964_
1965..
68.5
19401941194219431944
178.0186.0202.8
203.9204.3213.0221.0229.1
237.8
48.0
47.943.737.230.832.2
33.334.335.235.234.1
33.634.437.541.648.2
53.961.068.573.776.6
75.386.695.196.595.0
98.2102.9110.4115.9124.4
129.9131.4137.4142.8150. 7
159.4
6.6
6.54.93.63.03.2
3.55.25.15.05.1
5.15.37.19.69.7
9.09.711.913.314.4
12.917.119.514.811.7
11.210.611.013.917.7
15.615.516.417.215.7
14.4
3.2
3.43.33.02.52.2
2.22.42.63.03.2
3.13.34.04.95.4
6.55.45.37.410.1
12.214.116.717.418.4
18.619.320.220.222.1
22.322.022.523.324.1
25.2
2.5
88
2.73.03.85.16.1
6.76.37.19.08.6
7.67.98.89.09.2
9.68.38.37.69.3
7.88.08.79.29.8
8.9
4.0(3)
8(3)(3)84.24.24.95.05.35.66.17.78.59.18.69.710.39.99.910.010.510.09.99.8
9.68.99.18.78.8
0.6
3.23.54.25.46.6
7.99.410.29.99.6
9.19.19.49.49.4
9.49.59.49.510.0
9.28.78.89.29.2
9.6
0.2.4.51.12.2
3.44.24.24.44.6
4.74.74.74.64.7
5.05.25.15.15.2
4.74.64.54.44.2
4.2
.9
.91.01.1
1.21.41.51.71.9
2.12.32.52.72.9
3.13.43.63.94.3
4.85.25.66.26.6
7.3
132.5151.5167.0164.3
165.1169.7178.0186.0202.8
204.3213.0221.0229.1
237.8
9.8
9.69.49.18.57.7
7.67.47.27.0
6.66.56.46.05.4
4.94.84.95.15.3
5.66.16.77.27.7
8.29.09.810.411.1
12.112.813.915.216.8
18.9
5.0)
3.43.94.14.03.5
3.43.23.64.26.1
6.87.08.08.99.2
9.49.89.610.012.6
12.813.414.816.618.1
18.6
1966* 253.2 170.0 61.4 21.8 253.2 21.1 20. 0
53.9
42.944.652.463.775.7
85.995.5
107.9118.6123.5
120.1138.4152.3148.2144.3
147.5150.9158.6165.6179.1
179.0178.1184.3189.2194.2
200.3
212.1
1 Beginning with 1961, horses and mules are excluded.2 Includes all crops held on farms and crops held off farms by farmers as security for Commodity CreditCorporation loans. The latter on January 1,1965, totaled $606 million.
3 Not available.4 Preliminary.Source: Department of Agriculture.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICS
TABLE C-77.—United States merchandise exports and imports, by commodity groups, 1957-65
[Millions of dollars]
Period
Sea-son-allyad-
justed
Merchandise exports
Total,includingreexports J
Un-ad-
justed
Domestic exports
To-tal i«
Food,bever-ages,andto-
bacco fuels
Crudema-te-
rialsand
Man-ufac-turedgoods
(•)
Sea-son-allyad-
justed
Merchandise imports
Generalimports 2
Un-ad-
justed
Imports forconsumption a
To-tal*
Food,bever-ages,andto-
bacco
Crudema-te-
rialsand
fuels 8
Man-ufac-turedgoods
(•)
Mer-chan-dise
tradesur-plus,sea-son-allyad-
justed
Monthly average:1957195819fi9— - —
1960.1961.1962.1963.1964.
1965 L.
1964: Jan—Feb_.Mar_.Apr..May.June..
July_.Aug--Sept..Oct...Nov..D e c .
1965: Jan...Feb. .Mar..Apr. .May..June-July..Aug..Sept..Oct . .Nov..
2,0432,0462,07 b2,0612,0622,034
2,1232,1092,2352,1552,197
1,2171,6932,7532,3802,2782,185
2,2632,3462,2982,3492,406
1,6261,3641,367
1,6341,6791,7451,8692,135
2,183
2,0352,0062,1402,1382,2212,047
2,0461,9002,0852,2592,1832,561
1,1881,5142,8922,5292,3812,219
2,1722,1242,1412,4202,440
1,6111,3511,352
1,6171,6591,7231,8462,106
2,155
2,0081,9772,1122,1022,1902,016
2,0201,8712,0582,2302,1582,526
1,1711,4912,8602,5022,3512,191
2,1402,0962,1112,3872,407
236224238
263286307342387
371
38537538738940434:
31832740541444045!
137225484389392382
401431459
254250
324318277311
351
353343342339345
391325320399382463
209246461410378382
321303383402
1,058962931
1,0721,0831,157.,218,360
, 422
,277,285,372,388,429,334
,314,2371,331,403,342,605
826,052,888,708
,'455
,343,393,371,530,525
1,4601,5201,5411,5391,518
1,5781,5761,5461,6481,6981,642
1,2061,6011,8691,8351,7991,835
1,6701,7251,7872,0021,903
1,1051,1051,302
1,2511,2261,3661,4291,557
1,747
1,4451,3371,5901,5611,4561,594
1,6111,4911,5621,6131,6721,755
1,1131,4642,0401,8551,7241,907
1,6331,7181,7981,9971,967
1,1021,1011,285
1,251., 221,354,417,550
742
463321565554432,575
,613490568,644655720
138489999821720878
,729,795
2,0041,953
280296296
283286306320332
326
306276364354309315
304292333363392376
173264386331332349
261315353409417
342382
379361381386413
441
428374404400384408
449427411413399454
386416508484409474
410449431462424
423433575
556539630666756
914
631740754695800
810725776810813842
535759
1,041963913
902909946
1,0611,034
52125965
383453379440578
436
554520523516
646534689607499788
884645479350
593621511347603
1 Total excludes Department of Defense shipments of grant-aid military supplies and equipment underthe Military Assistance Program.
2 Total arrivals of imported goods other than intransit shipments.3 Imported merchandise released from Customs custody for entry into U.S. consumption channels,
entries into bonded manufacturing warehouses, and ores and crude metals after smelting and refining inbonded warehouses.
4 Total includes commodities and transactions not classified according to kind.5 Includes fats and oils.8 Includes chemicals, metals, machinery, transportation equipment, and other manufactures. Military
grant-aid shipments are included in these commodity data.7 January-November average.
NOTE.—Data include trade of Alaska, Hawaii, and Puerto Rico.
Source: Department of Commerce, Bureau of International Commerce.
299
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-7S—United States balance of payments, 1947-65
[Millions of dollars]
Year or quarter
Exports of goods and services
TotalMer-chan-dise i
Mili-tary
Income oninvestments
Pri-vate
Gov-ern-
ment
Otherserv-ices
Imports of goods and
TotalMer-chan-dise i
Mili-taryex-
pend-itures
Otherserv-
Bal-anceon
goodsandserv-ices
Remit-tancesandpen-sions
1947...1948...1949__.
1950...1951...1952...1953...1954_-.
1955...1956...1957...1958...1959...
1960...1961...1962...1963—1964...
1965 io.
1963:II-.III.IV-
1964:II--III.IV.
1965: II I . —III 1 2-
19,73716,78915,770
13,80718,74417,99216,94717, 759
19,80423,59526,48123,06723,476
27,24428,55730,27832,35337,017
38,377
16,01513,19312,149
10,11714,12313,31912,28112,799
14,28017,37919,39016,26416,282
19,48919,93620,60422,06925,288
25,520
()192182
200161375300302
335402656659762
817
1,0361,2381,297
1,4841,6841,6241,6581,955
2,1702,4682,6122,5382,694
3,0013,5613,9544,1565,003
5,741
6610298
109198204252272
274194205307349
349380471498454
555
2,6202,2562,226
2,0972,7392,8452,5642,551
2,8803,3933,8993,6583,849
4,0704,2784,5934,9715,510
5,744
8,20810,3499,621
12,02815,07315,76616,56115,931
17,79519,62820.75220, 86123,342
1,17722,92425,12926,43628,457
31,240
5,9797,5636,879
9,10811,20210,83810,99010,354
11,52712,80413,29112,95215,310
14,73214,50716,17316,99218,619
20,871
455799621
5761,2702,0542,6152,642
2,9012,9493,2163,4353,107
3,0482,9543,0782,929
2,799
1,7741,9872,121
2,3442,6012,8742,9562,935
3,3673,8754,2454,4744,925
5,3975,4635,8786,5157,014
7,571
11,5296,4406,149
1,7793,6712,226386
1,828
2,0093,9675,7292,206134
4,0675,6335,1495,9178,560
7,137
Seasonally adjusted annual rates
30,01232,43632,55234,412
36,33635,96437,34038,428
34,66040,36840,104
-715-617
-523-457-545-617-615
-585-665-702-722-791
-672-705-738-837-839
19,97221,97622,48823,840
24,59624,26825,52826, 760
22,34426,99227,224
656976412592
776764672836
696916840
4,1964,0684,1164,244
5,0645,0525,0404,856
5,6406,0005,584
492496500504
520528528240
556584524
4,6964,9205,0365,232
5,3805,3525,5725,736
5,4245,8765,932
25,26,26,
556204868
27,116
27,5122828,29,
28,3232
244544528
628388704
16,23216,87617,37217,488
17,64018,39618,83619,604
18,65221,87622,084
3,2,2,2,
2,
020952884860
9282,8802,2,
222
764724
648808940
6,3046,3766,6126,768
6,9446,9686,9447,200
7,3287,7047,680
4,4566,2325,6847,296
8,8247,7208,7968,900
6,0327,9807,400
-864-848-804
-812-828-880
-1,160-940
See footnotes at end of table.
3OO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-78.—United States balance of payments, 1947-65—Continued
[Millions of dollars]
Period
19471948.. .--- .1949. . . .—
1950195119521953. — —1954
1 9 5 5 . . . . - -19561957..19581959.
19601961196219631964
1965 10
1963:I -IIIIIIV
1964:IIIIIIIV
1965:I —IIIII 12...
U.S.Gov-ern-
mentgrants
andcapi-tal,
net 2
-6,121-4,918-5,649
-3,640-3,191-2,380- 2 , 055- 1 , 554
- 2 , 211-2,362- 2 , 574- 2 , 587- 1 , 986
- 2 , 769- 2 , 780- 3 , 013- 3 , 581- 3 , 563
-3,327
U.S. private capital,net
Directinvest-ment
-749-721-660
-621-508-852-735-667
-823-1,951-2,442-1,181- 1 , 372
- 1 , 674-1,599-1,654-1,976-2,376
-3,420
Otherlong-term
- 4 9- 6 9- 8 0
-495-437-214
185-320
-241-603-859
- 1 , 444-926
-863- 1 , 025-1,227- 1 , 695-1,975
-1,247
Short-term
-189-116
187
-149-103
-94167
-635
-191-517-276-311- 7 7
-1,348-1,556
-544-785
- 2 , 111
1,027
For-eigncapi-
talnet 2
- 7 5-173
83
90243212178240
39465348722
863
366707
1,021688667
44
Errorsand
unre-cordedtrans-actions
9361,179
775
- 2 1477601339173
503543
1,157488412
-988-1,045-1,197
-401-1,161
-485
Balance
Liq-uiditybasis 3
4,5671,005
175
- 3 , 580-305
-1,046-2,152- 1 , 550
-1.145-935
520- 3 , 529- 3 , 743
-3,881-2,370-2,203-2,670-2,798
-1,269
Offi-cial
reservetrans-
actionsbasis <
<")(")(»)
-3,312538
-822-2,104- 1 , 523
-741-2611,145
- 3 , 027- 2 , 283
-3,592-1,287-2,241-1,977-1,224
-236
Seasonally adjusted annual rates
-3,684-4,400-2,460-3,780
-3,012-3,560-3,580-4,100
-3,188-3,836-2,956
-2,504-1,864-1,064-2,472
-1,856-2,160-2,204-3,284
-4,636-3,564-2,060
-2,248-2,344-1,276
-912
-1,096-1,024-2,448-3,332
- 2 , 716400
-1,424
376-1,944
-388-1,184
-2,356-2,192-1,624-2,272
1,1881,696
196
3121,040
540860
456308680
1,224
1,392-240
-1,020
-640-304
-1,072412
-1,152-608
-1,164-1,720
- 1 2-308
-1,136
-4,796-4,432
-840-612
-1,028-2,328-2,372-5,464
-2,836968
-1,940
-3,896-3,372
—72-568
-544-1,404
184-3,132
-2,568820
1,040
Changes in selected lia-bilities (decrease ( - ) )«
To foreignofficial holders«
Liquid
1,554-5051,237
8481,043
5591,130
20735
1,248
1,449681457
1,6731,073
(")
Non-liquid 7
1,25273191
251- 7 4- 2 0
(u>
Toother
foreignhold-
ers8
2688432244827
404674625502
1,460
2891,083
213619
1,554
Changesin gold,convert-ible cur-rencies,
andIMFgold
trancheposition(increase
(-))
-3 ,315-1,736
-266
1,758- 3 3
-4151,256
480
182-869
-1,1652,2921,035
2,143606
1,533378171
(»)
Quarterly totals unadjusted
276926320151
-400215389869
-861-107
252
5- 2 9- 5 0
- 5 0
30
3971414932
227114562651
199-161
683
32124227- 5
- 5 1303
70-151
8426840
1 Adjusted from customs data for differences in timing and coverage.2 Includes certain special Government transactions.3 Equals changes in liquid liabilities to foreign official holders, other foreign holders, and changes in official
reserve assets consisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.4 Equals changes in liquid and nonliquid liabilities to foreign official holders and changes in official reserve
assets consisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.5 Includes short-term official and banking liabilities and foreign holdings of U.S. Government bonds and
notes.6 Central banks, governments, and U.S. liabilities to the IMF arising from reversible gold sales to, and
gold deposits with the U.S. Data for years before 1960 include estimates of official transactions in marketableU.S. Government bonds and notes.
7 Provisional.* Private holders; includes banks and international and regional organizations, excludes IMF.9 Not reported separately.
10 Average of the seasonally adjusted annual rates for the first three quarters.11 Not available.12 Preliminary.
NOTE.—Data exclude military grant-aid and U.S. subscriptions to International Monetary Fund.
Source: Department of Commerce, Office of Business Economics.
301
7S5--&83 O -
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TABLE C-79.—United States merchandise exports and imports, by area, 1957-65
[Millions of dollars}
Period
Exports (including reexports)1
195719581959
I960196119621963 -1964
January-November:19641965
General imports195719581959 .-
1960196119621963 -__ . . .1964
January-November:19641965
Total
20,86217,91617,633
20,55820,96221,67223,35126,442
23,82924,742
13,25513,25515,627
15,01814,71316,38917,14218,685
16,93019,215
Canada
4,0453,5403,829
3,8103,8254,0454,2514,898
4,4445,120
3,0422,9653,352
3,1533,2703,6603,8294,241
3,8594,363
TwentyLatin
AmericanRepublics
4,6874,2083,613
3,5753,5293,3333,3003,816
3,4303,395
3,7693,5893,602
3,5283,2133,3873,4513,524
3,1723,295
WesternEurope
6,7535,4475,456
7,1757,1977,5978,1619,075
8,1928,282
3,0783,2974,523
4,1854,0584,5394,7295,206
4,6995,520
Allotherareas
5,3774,7214,735
5,9986,4116,6977,6398,6.53
7,7637,945
3,3663,4044,150
4,1524,1724,8035,1335,714
5,2006,037
i Includes "special category" shipments.
NOTE.-—Data include trade of Alaska, Hawaii, and Puerto Rico.
Source: Department of Commerce, Bureau of International Commerce.
302
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T A B L E G—80.—United States foreign assistance, by type and area, fiscal years 1946—65
[Millions of dollars]
Type and fiscal period
Net obligations and loan authorizations
Total
NearEastand
SouthAsia
LatinAmerica
FarEast
Africa EuropeOther
and non-regional
Foreign assistance:
Total postwar...1962-64 average1965
Economic aid:Total postwar
LoansGrants
1962-64 averageLoansGrants
1965LoansGrants
AID and predecessor agencies:Total postwar1962-64 average1965
Food for Peace:Total postwar1962-64 average1965
Export-Import Bank long-term loans:
Total postwar1962-64 average1965
Other economic aid: 2Total postwar1962-64 average1965
Military assistance: aTotal postwar
LoansGrants
1962-64 averageLoansGrants
1965LoansGrants
Addendum—Repayments andinterest:8
Economic assistance:Total post war1965
Military assistance:Total postwar1965
115,8756,5055,958
81,19732,00849,1894,8612,6822,1794,6452,6432,002
40,0302,3142,026
13,2251,6711,527
8,770461522
19,172416571
34,678586
34,0921,644
501,5941,313
711,242
12,1561,012
30242
23,6002,1202,045
17,3249,3667,9581,7921,234
5581,6801,336
344
9,103922
6,311798922
9876778
9225
11
6,276150
6,126328
232636525
340
1,312275
574
10,3431,2101,346
9,4306,7202,7101,114
767347
1,282778504
3,010548532
1,390225107
3,573115258
1,456226385
913132781966
90648
55
2,474324
25,8421,3591,390
16,1912,925
13,267764220545726190535
8,525356408
1,980283210
4,7914222
* 9,651<35
< 9,6164 5954 12
4 664
830156
3,237480347
3,0511,2851,766
454170285329157172
248150
852161117
1361627
18611
17526
2618
17
298
0)
44,676554511
30,29211,49418,797
33526669
20418222
15,2304
- 1
2,334154118
2,90916565
9,8191122
14,384126
14,25921919
200307
19288
7,129211
10111
8,178782320
4,910218
4,69240225
376424
424
2,479236267
3585052
25
2,048115105
1343,134
38011
369-104
19-123
11510
67
1 Less than $500,000.2 Includes capital subscriptions to Inter-American Development Bank, International Bank for Recon-
struction and Development, International Development Association, and International Finance Corpora-tion (1946-65, $1,541 million; 1962-64 average, $135 million; 1965, $312 million) and Peace Corps (1946-65,$246 million; 1962-64 average, $54 million; 1965, $85 million).
3 Includes grant-aid and credit assistance under the Foreign Assistance Act (FAA) plus military assist-ance grants under other acts. Regional totals for the former include country aid programs only; all otherprograms are shown in "other and nonregional." FAA military data are from the Department of Defense.Annual data are for deliveries. "Total postwar" entries are program totals.
4 Excludes Australia and New Zealand, shown in "other and nonregional."5 Data for certain programs from Department of Commerce, Office of Business Economics, and Depart-
ment of Defense. Calculations for 1962-64 period not available at time of publication.
Source: Agency for International Development (except as noted).
303
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TABLE C-81.—International reserves, 1949, 7953, and 7960-65 l
[Millions of dollars; end of period]
Area and country
All countries
Developed areas...
United States..
United Kingdom
Other Western Europe..AustriaBelgiumFrance.GermanyItalyNetherlandsScandinavian coun-
tries (Denmark,Finland, Norway,and Sweden)
SpainSwitzerland.Other*
Canada..
Japan...
Australia, New Zea-land, and SouthAfrica..
Less developed areas 7_.
Latin America..Middle East.—Other AsiaOther Africa-..
1949
45, 515
37, 240
26, 024
1,752
6,45592978580196(5)434
537
()1,6921,343
1,197
1,582
8,280
2,7751,4753,395«290
1953
51, 780
41,390
23,458
2,670
10. 515325
1,144829
1,773768
1,232
1,026
1501,7681,500
1,902
892
1,952
10,390
3,4001,2003,8401,800
1960 2
60, 665
50, 940
19, 359
3,719
22, 555716
1,5062,2727,0323,2511,863
1,402
5472,3241,643
1,989
1,949
1,369
9,725
2,9201,4103,3951,865
1961
62, 695
53, 705
18,753
3,318
25, 820845
1,8133,3657,1633,7991.958
1,607
8942,7591,615
2,276
1,666
1,875
8,985
2,6651,4703,2151,505
1962
63, 070
54,275
17, 220
3,308
26, 9751,0811,7534,0496,9563,8181,946
1,610
1,0552,8721,836
2,547
2,022
2,203
8,795
2,2901,7353,1601,500
1963
66, 510
56. 715
16,843
3,147
29,2801,2291,9404,9087,6503,4062,102
1,875
1,1523,0781,940
2,603
2,058
2,786
9,790
2,7902,2053,4151,290
1964
68,905
59, 015
16,672
2,316
32, 3151,3172,1925,7247,8823,8242,349
2,380
1,5183,1232,004
2,881
2,019
2,814
9,885
2,9302,2603,2951,255
1965
Sep-tember
368,865
58,205
«15, 721
2,755
32,4901,3392,3276,2487,3644,1562,423
2,219
1,5232,8762,013
3,025
2,014
2,197
310,665
3,180
1,380
De-cember
* 15, 447
3,004
1,3112,3046,3437,4284,4142,416
2,328
1,4093,247
3,027
2,152
1 Includes gold holdings, reserve position in the International Monetary Fund, and foreign exchange ofall countries except U.S.S.R., other Eastern European countries, and Communist China.
2 Beginning 1959, when most of the major currencies of the world became convertible, data exclude knownholdings of inconvertible currencies, balances under payments agreements, and the bilateral claims arisingfrom liquidation of the European Payments Union.
3 Estimate.* Includes U.S. gold subscription payments made in anticipation of increases in Fund quotas.5 Not available separately.«In addition to other Western European countries, includes unpublished gold reserves of Greece and an
estimate of gold to be distributed by the Tripartite Commission for the Restitution of Monetary Gold.7 Includes unpublished gold holdings not allocable by area.
Source: International Monetary Fund, International Financial Statistics.
3°4
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TABLE C-82.—United States gold stock and holdings of convertible foreign currencies by U.S.monetary authorities, 1949-65
[Millions of dollars]
End of year or month TotalGold stock i
Total 2 Treasury
Foreigncurrencyholdings
1949
19501951195219531954
19551956195719581959
196019611962196319641965 3
1964: Jan...Feb..Mar..Apr..May.June-July.Aug.Sept.Oct -Nov.Dec.
1965: Jan..Feb..Mar.Apr.May-June.
July..Aug..Sept.Oct...Nov..Dec 3.
24, 563
22,82022,87323,25222,09121, 793
21, 75322,05822, 85720,58219, 507
17, 80417,06316,15615,80815, 90314,584
15,84715, 86515,99015,99115,94615,805
15,84015,89015, 87015,70216,32415,903
15,57215,22015,12914,88414, 51114,595
14,69714,95314,88414,79514,68614,584
24, 563
22,82022, 87323, 25222, 09121, 793
21, 75322, 05822, 85720, 58219, 507
17,80416, 94716,05715, 59615,471
«13,807
15, 54015, 51815, 55015, 72715, 69315,623
15, 62915, 65715,64315,60615, 56615, 471
15,20814,99314,63914,48014,36214,049
13,96913,916
* 13,925413,937< 13,879<13,807
24, 427
22, 70622, 69523,18722, 03021, 713
21, 69021, 94922, 78120, 53419, 456
17, 76716,88915, 97815, 51315,388
<13.733
15, 51215, 46215.46115.46215, 46315, 461
15.46215.46015.46315.46115,38615,388
15,18514,93714,56314,41014,29013,934
13,85713,857
413,858* 13,857* 13,805«13,733
11699
212432777
307347440264253182
21123322796758432
364227490404149546
7281,037959858807777
1 Includes gold sold to the United States by the International Monetary Fund with the right of repurchase,which amounted to $800 million on December 31,1965. Also includes gold deposit of IMF; see footnote 4.
2 Includes gold in Exchange Stabilization Fund.* Preliminary.* Includes gold deposited by the IMF ($8 million as of September 30, $9 million as of October 31 and $34
million as of Novem ber 30 and December 31,1965) to mitigate the impact on the U.S. gold stock of pur-chases by foreign countries for gold subscriptions on increased IMF quotas. The United States has a cor-responding gold liability to the IMF.
NOTE.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is notincluded in the gold stock of the United States.
Sources: Treasury Department and Board of Governors of the Federal Reserve System.
305
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-83.—Price changes in international trade, 1957-65
[1958=100]
Area or commodity class 1957 1958 1959 1960 1961 1962 1963 19641965
Thirdquarter
Unit value indexes by area
Developed areas
ExportsTerms of traded
United States *
ExportsTerms of traded.
Less developed areas
ExportsTerms of trade i
Latin America
ExportsTerms of trade *
Latin America excluding petroleum
ExportsTerms of trade !_
10396
10196
104100
107105
111109
100100
100100
100100
100100
100100
99102
100102
9799
9595
9494
100103
101101
9899
9596
9596
101104
103105
9597
9395
9395
101105
102107
9395
9193
9192
102104
102105
9597
9497
9597
103104
103103
9797
101103
104105
105105
106106
9897
3 1008102
3 1043 106
World export price indexes 4
Primary commodities, total..
Foodstuffs
Coffee, tea, and cocoa..Cereals
Other agricultural commodities &Fats, oils, and oilseeds.Textile fibers
Wool
MineralsMetal ores.
Nonferrous base metals.Manufactured goods *.__
106
103
103100
113
105126144
103107
111101
100
100
100100
100
100100100
100100
100100
97
93
8397
105
10098106
9497
11199
97
91
7796
107
94104108
9398
114101
95
90
7298
103
97105107
92100
110102
94
90
70103
99
89101106
9299
109102
100
103
73102
103
95112127
9296
110103
103
106
87105
105
98116131
94104
135104
100
99
80100
103
105104109
96110
153106
* Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.2 Includes foreign trade of Alaska, Hawaii, and Puerto Rico.3 Data are for second quarter 1965.4 Data for manufactured goods are unit value indexes.• Includes nonfood fish and forest products.NOTE.—Data exclude trade of Eastern Europe and Communist China.Sources: United Nations and Department of Commerce (Bureau of International Commerce).
306
U.S. GOVERNMENT PRINTING OFFICE: 1966 O — 7 9 5 - 9 8 3
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis