ERP1968 Appendixes 2

Appendix B

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

203

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


CONTENTSNational income or expenditure: p a g e

B-l. Gross national product or expenditure, 1929-67 209B-2. Gross national product or expenditure, in 1958 prices, 1929-67 210B-3. Implicit price deflators for gross national product, 1929-67 212B-4. Gross national product by major type of product, 1929-67 214B-5. Gross national product by major type of product, in 1958 prices,

1929-67 215B-6. Gross national product: Receipts and expenditures by major economic

groups, 1929-67 216B-7. Gross national product by sector, 1929-67 218B-8. Gross national product by sector, in 1958 prices, 1929-67 219B-9. Gross national product by industry, in 1958 prices, 1947-66 220B-10. Personal consumption expenditures, 1929-67 221B-l 1. Gross private domestic investment, 1929-67 222B-12. National income by type of income, 1929-67 223B-l3. Relation of gross national product and national income, 1929-67 224B-14. Relation of national income and personal income, 1929-67 225B-15. Disposition of personal income, 1929-67 226B-l6. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1958 prices, 1929-67 227B-17. Sources of personal income, 1929-67 228B-18. Sources and uses of gross saving, 1929-67 230B-19. Financial saving by individuals, 1939-67 231B—20. Number and money income of families and unrelated individuals,

1947-66 232

Population, employment, wages, and productivity:B-21. Population by age groups: Estimates, 1929-67, and projections, 1970-85. 233B-22. Noninstitutional population and the labor force, 1929-67 234B-23. Civilian employment and unemployment, by sex and age, 1947-67.. . 236B-24. Selected unemployment rates, 1948-67 237B-25. Unemployment by duration, 1947-67 238B-26. Unemployment insurance programs, selected data, 1940-67 239B-27. Wage and salary workers in nonagricultural establishments, 1929-67. 240B-28. Average weekly hours of work in selected nonagricultural industries,

1929-67 242B-29. Average gross hourly earnings in selected industries, 1929-67 243B-30. Average gross weekly earnings in selected nonagricultural industries,

1929-67 244B-31. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-67 245B—32. Average weekly earnings, gross and spendable, total private nonagricul-

tural industries, in current and 1957-59 prices, 1947-67 246B—33. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1957-59 prices, 1939-67 247B-34. Indexes of output per man-hour and related data, private economy,

1947-67 248

205284-593 0—68 14


Production and business activity: Page

B-35. Industrial production indexes, major industry divisions, 1929-67 249B—36. Industrial production indexes, market groupings, 1947—67. . . 250B-37. Industrial production indexes, selected manufactures, 1947-67 251B-38. Manufacturing output, capacity, and utilization rate, 1948-67 252B-39. Business expenditures for new plant and equipment, 1939 and 1945-

68 253B-40. New construction activity, 1929-67 254B-41. New housing starts and applications for financing, 1929-67 256B-42. Sales and inventories in manufacturing and trade, 1947-67. . 258B-43. Manufacturers' shipments and inventories, 1947-67 259B-44. Manufacturers' new and unfilled orders, 1947-67 260

Prices:

B-45. Consumer price indexes, by major groups, 1929-67 261B-46. Consumer price indexes, by special groups, 1935-67 262B-47. Consumer price indexes, selected commodities and services, 1935-67.. 263B-48. Wholesale price indexes, by major commodity groups, 1929-67 264B-49. Wholesale price indexes, by stage of processing, 1947-67 266

Money supply, credit, and finance:

B-50. Money supply, 1947-67 268B-51. Bank loans and investments, 1929-67 269B-52. Selected liquid assets held by the public, 1946-67 270B-53. Federal Reserve Bank credit and member bank reserves, 1929-67. . . . 271B-54. Bond yields and interest rates, 1929-67 272B—55. Short- and intermediate-term consumer credit outstanding, 1929—67. 274B-56. Instalment credit extended and repaid, 1946-67 275B-57. Mortgage debt outstanding, by type of property and of financing,

1939-67 276B-58. Net public and private debt, 1929-67 277

Government finance:

B-59. Federal budget receipts, outlays, financing, and debt, 1958-69 278B-60. Federal budget receipts and outlays, 1958-69 280B-61. Relation of the receipt-expenditure account of the Federal Govern-

ment to the Federal sector of the national income and productaccounts, 1967-69 282

B—62. Receipts and expenditures of the Federal sector of the national incomeand product accounts, 1946-69 283

B-63. Federal finances under the old concepts, fiscal years 1929-69 284B-64. U.S. Government debt, by kind of obligation, 1929-67 285B-65. Estimated ownership of U.S. Government obligations, 1939-67 286B-66. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1946-67 287B-67. Receipts and expenditures of the Government sector of the national in-

come and product accounts, 1929-67 288B-68. State and local government revenues and expenditures, selected fiscal

years, 1927-66 289

206


Corporate profits and finance: PageB-69. Profits before and after taxes, all private corporations, 1929-67 290B-70. Sales, profits, and stockholders' equity, all manufacturing corpora-

tions (except newspapers), 1947-67 291B—71. Relation of profits after taxes to stockholders' equity and to sales, all

manufacturing corporations (except newspapers), by industry group,1947-67 292

B-72. Sources and uses of funds, nonfarm nonfinancial corporate business,1956-67 294

B-73. Current assets and liabilities of United States corporations, 1939-67. . 295B-74. State and municipal and corporate securities offered, 1934-67 296B-75. Common stock prices, earnings, and yields, and stock market credit,

1939-67 297B-76. Business formation and business failures, 1929-67 298

Agriculture:B-77. Income from agriculture, 1929-67 299B-78. Farm production indexes, 1929-67 300B—79. Farm population, employment, and productivity, 1929—67 301B-80. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-67 302B-81. Selected measures of farm resources and inputs, 1929-67 304B-82. Comparative balance sheet of agriculture, 1929-68 305

International statistics:B-83. United States balance of payments, 1947-67 306B-84. United States merchandise exports and imports, by commodity groups,

1958-67 308B-85. United States merchandise exports and imports, by area, 1961-67 309B-86. United States overseas loans and grants, by type and area, fiscal years

1962-67 310B-87. International reserves, 1949, 1953, and 1962-67 311B-88. United States reserve assets: Gold stock, holdings of convertible foreign

currencies, and reserve position in the International MonetaryFund, 1946-67 312

B—89. Price changes in international trade, 1959—67 313B—90. Consumer price indexes in the United States and other major in-

dustrial countries, 1955-67 314

General Notes

Detail in these tables will not necessarily add to totals because of rounding.Unless otherwise noted, all dollar figures are in current prices.

Symbols used:v Preliminary.

__ Not available (also, not applicable).* Amount insignificant in terms of the particular unit (e.g., less than

$50 million where unit is billions of dollars).

207



NATIONAL INCOME OR EXPENDITURETABLE B-l.—Gross national product or expenditure, 1929-67

[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..

I960..1961..1962..1963..1964..1965..1966..1967*.

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

1966: I . . .II . .III.IV..

1967: I . . . .I I . . .III.. .IV p .

Totalgross

nationalproduct

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7

503.7520.1560.3590.5632.4683.9743.3785.1

Per-sonalcon-

sump-tion

expend-itures^

662.7675.4690.0708.4

725.9736.7748.8762.1

766.3775.1791.2807.6

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

325.2335.2355.1375.0401.2433.1465.9491.6

Grossprivate

do-mesticinvest-ment2

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

74.871.783.087.194.0

107.4118.0112.1

Netexportsof goods

andserv-ices 3

1.1

1.0

!4.4.6.1.1.3

1.31.1

1.71.3

*- 2 . 0- 1 . 8- . 67.5

11.56.46.11.83.72.2.4

1.82.04.05.72.2.1

4.05.65.15.98.56.95.15.0

Government purchases of goods and services

Total

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

99.6107.6117.1122.5128.7136.4154.3176.3

Federal4

Total

1.3

1.41.51.52.03.02.94.94.75.45.1

6.016.951.981.189.074.217.212.516.520.1

18.437.751.857.047.444.145.649.553.653.7

53.557.463.464.265.266.877.089.9

Nationaldefense5 Other

1.2

2.213.849.479.787.473.514.79.1

10.713.3

14.133.645.948.741.238.640.344.245.946.0

44.947.851.650.850.050.160.572.6

1.3

1.41.51.52.03.02.94.94.75.4

3.9

3.83.12.51.41.6.7

2.53.55.86.8

4.34.15.98.46.25.55.35.37.77.6

8.69.6

11.813.515.216.716.517.3

Seasonally adjusted annual rates

420.2428.1436.4447.8

458.2461.6470.1473.8

480.2489.7495.3501.4

105.1105.1108.2112.3

115.2118.5116.4122.2

110.4105.1112.2120.7

6.18.27.46.1

6.15.44.64.3

5.35.35.44.0

131.3133.9138.1142.3

146.5151.2157.7161.7

170.4175.0178.2181.5

64.365.467.669.8

72.174.979.581.5

87.189.590.992.0

48.449.250.352.4

55.158.463.065.6

70.272.573.374.3

15.916.217.317.4

17.116.616.615.9

16,817! 017.617.7

Stateandlocal

7.2

7.87.76.66.06.87.17.07.27.68.2

8.07.97.77.47.58.19.8

12.615.017.7

19.521.522.924.627.430.133.036.640.643.3

46.150.253.758.263.569.677.286.4

66.968.670.472.5

74.376.278.180.2

83.385.487.489.5

»See Table B-10 for major components.2See Table B-ll for detailed components.3 See Table B-6 for exports and imports separately.« Net of Government sales.5 This category corresponds closely to the national defense classification in the "Budget of the United States Govern-

ment for the Fiscal Year ending June 30,1969."

Source: Department of Commerce, Office of Business Economics.

209


TABLE B-2.—Gross national product or expenditure, in 1958prices, 1929-67

[Billions of dollars, 1958 prices]

Year orquarter

1929..

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

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

i950.

1952..1953..1954..1955..1956..1957..1958..1959..

I960..1961..1962..1963..1964.1965..1966..1967 i

1965: II I — -IIIIV

1966: II I . . . .I I I . . . .IV. . . .

1967: Il l _ . . .I l l—IV *_.

Totalgrossna-

tionalprod-

uct

203.6

183.5169.3144.2141.5154.3169.5193.0203.2192.9209.4

227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1

355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9

487.7497.2529.8551.0581.1616.7652.6669.2

601.5609.7620.7634.4

645.4649.3654.8661.1

660.7664.7672.0679.4

Personal consumptionexpenditures

Total

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

316.1322.5338.4353.3373.7398.4418.0429.9

Dura-ble

goods

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

44.943.949.253.759.066.471.372.1

Non-dura-

blegoods

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

114.0116.5120.8124.4125.5131.7136.2138.7140.2146.8

149.6153.0158.2162.2170.3178.9187.7192.8

Serv-ices

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

121.6125.6131.1137.4144.4153.2159.1164.9

Gross private domestic investment

Total

40.4

27.416.84.75.39.4

18.024.029.917.024.7

33.041.621.412.714.019.652.351.560.448.0

69.370.060.561.259.475.474.368.860.973.6

72.469.079.482.587.898.0

105.696.9

Fixed investment

Total

36.9

28.019.210.99.7

12.115.620.924.519.423.5

28.132.017.312.915.922.642.351.755.951.9

61.059.057.260.261.469.069.567.662.468.8

68.967.073.476.781.989.193.092.1

Nonresidential

Total

26.5

21.714.18.27.69.2

11.515.818.813.715.3

18.922.212.510.013.419.830.236.238.034.5

37.539.638.340.739.643.947.347.441.644.1

47.145.549.751.957.866.072.873.0

JStruc-tures

13.9

11.87.54.43.33.64.05.47.15.65.9

6.88.14.62.93.85.7

12.511.612.311.9

12.714.113.714.915.216.218.518.216.616.2

17.417.417.917.919.121.923.621.8

/pro-ducers'durableequip-ment

12.6

9.96.63.84.35.67.5

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

29.628.131.734.038.744.149.251.2

Resi-dentialstruc-tures


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

21.921.623.824.824.223.220.219.2

389.1394.1400.7409.9

416.2415.2420.4420.4

424.2430.6431.5433.2

65.064.166.869.5

73.069.371.971.1

69.772.972.773.0

174.7178.0179.3183.6

185.8187.7188.8188.4

191.8193.6192.8193.2

149.4152.0154.6156.8

157.3158.2159.8160.9

162.6164.1166.0167.1

95.995.998.3

101.6

104.0106.5103.6108.4

96.991.396.4

102.9

86.687.989.692.4

94.593.193.091.2

90.290.992.994.5

62.964.566.769.7

71.871.773.674.2

73.072.673.273.2

20.421.721.823.6

24.223.423.723.0

22.921.721.521.2

42.542.844.946.2

47.548.349.951.2

50.151.051.751.9

23.723.423.022.6

22.821.419.417.0

17.318.319.721.3

Changein busi-

ness-inven-tories

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

-3.9

8.310.93.3.9

-2 .06.44.81.2

- 1 . 54.8

3.52.06.05.85.88.8

12.64.7

9.38.08.79.2

9.513.410.617.2

6.7.4

3.58.4

See footnote at end of table.

2 1 0


TABLE B-2.—Gross national product or expenditure, in 1958 prices, 1929—67—Continued


Year or quarter

1929

19301931 . . . .19321933193419351936193719381939

194019411942 .19431944 . .1945 . .1946194719481949

1950 .195119521953..195419551956195719581959

19601961 . . -. .-1962196319641965....19661967 v

1965: 1 . . .| |III . . . .IV

1966: 1IIIllIV.

1967: 1 . . .IIIIIIV v

Net exports of goods and services

Netexports

1.5

1.4.9.6

.3- 1 . 0- 1 . 2- . 71.91.3

2.14

- 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 35.14.55.68.36.04 43.8

5.26.86.45.6

5.44.84.13.2

4.14.14.22.9

Exports

11.8

10.48.9

7.17.37.78.29 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

27.328.030.032.136.537.540.842.5

Imports

10.3

9.07.96.67.17.18.79.3

10.58.08.7

8.910.89.9

12.613.413.911.210.312.011.7

13.614.115.216.715.817.719.119.920.923.5

23.022.925.526.628.231.536.438.7

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

94.9100.5107.5109.6111.2114.3124.5138.6

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

51.454.660.059.558.157.864.774.0


33.538.938.538.9

40.340.441.441.2

42.442.342.842.7

28.432.132.133.3

34.935.637.338.0

38.338.238.639.9

111.3112.9115.3117.4

119.9122.7126.6129.1

135.5138.7139.9140.4

56.357.158.559.3

61.263.466.467.8

72.374.475.174.4

State andlocal

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

43.545.947.550.153.256.459.964.6

55.055.856.758.0

58.759.460.161.3

63.264.364.966.0

1 Net of Government sales.Source: Department of Commerce, Office of Business Economics.

211


TABLE B-3.—Implicit price deflators for gross national product, 1929-67

[Index numbers, 1958=100]

Year or quarter

1929

1930193119321933193419351936193719381939

194019411942194319441945 - -1946194719481949

1950195119521953195419551956195719581959

19601961196219631964196519661967 '

1965* 1IIIllIV

1966: 1||IIIIV

1967: 1IIIIIIV v

Totalgross

nationalprod-uct^

50.6

49.344.840.239.342.242.642.744.543.943.2

43.947.253.056.858.259.766.774.679.679.1

80.285.687.588.389.690.994.097.5

100.0101.6

103.3104.6105.8107.2108.8110.9113.9117.3

110.2110.8111.2111.7

112.5113.5114.4115.3

116.0116.6117.7118.9

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

102.9103.9104.9106.1107.4108.7111.5114.4

108.0108.6108.9109.2

110.1111.2111.8112.7

113.2113.7114.8115.7

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

100.9100.6100.8100.4100.499.598.6

100.0

100.3100.099.098.6

98.098.498.799.4

99.599.5

100.1101.0

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

100.099.9

101.2101.9102.8104.0104.9106.9110.6112.8

105.7106.6107.3107.9

109.4110.3111.0111.6

111.7112.2113.3114.0

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

105.8107.6109.0110.9113.1114.8118.3122.5

114.0114.6115.0115.6

116.6117.8118.7119.9

120.9121.9123.0124.2

Gross private domestic investmentl

Fixed investment

Total

39.4

37.935.231.630.633.734.334.637.838.237.7

39.042.046.549.351.151.558.566.773.974.7

77.583.185.386.686.889.094.098.5

100.0102.6

103.4103.9104.9106.0107.6110.0112.5116.1

109.1110.0110.2110.9

111.4112.2112.8113.7

114.4115.0116.8118.2

Nonresidential

Total

39.9

38.135.832.931.634.935.935.638.839.338.7

40.042.747.849.951.051.056.364.570.772.8

74.480.482.684.084.886.792.497.9

100.0102.2

102.9103.4104.1104.5105.7107.7110.2113.1

107.0107.4107.8108.5

109.1109.7110.4111.6

112.2112.2113.2114.6

Struc-tures

35.7

34.031.127.627.928.930.630.234.433.933.1

33.936.441.346.848.649.254.464.471.571.2

72.979.383.284.986.088.193.498.6

100.0102.7

104.0105.6107.1108.9111.1114.6118.4122.8

113.3113.9115.1116.1

116.8117.7118.9120.1

121.0121.5123.8125.0

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

102.2102.1102.3102.3103.0104.2106.2108.9

103.9104.1104.2104.7

105.1105.8106.3107.7

108.2108.3108.8110.3

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

104.5105.0106.7108.9112.3116.4120.9127.9

114.7115.4117.4118.2

118.7120.4122.0123.2

123.8126.2129.9130.8

See footnotes at end of table.

2 1 2


TABLE B-3.—Implicit price deflators for gross national product, 1929-67—Continued

[Index numbers, 1958=100]

Year or quarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195 \19551956195719581959

19601961.196219631964196519661967i» . . . .

1965: 1IIIIIIV

1966: 1IIIIIIV

1967: 1IIIIIIV p.

Exports and imports ofgoods and services1

Exports

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

99.9101.9100.8100.6101.5104.5105.4106.7

104.6104.6104.7104.1

104.4105.0105.4106.7

Imports

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

101.0100.198.599.5

101.5102.4104.1104.3

102.0101.3102.7103.3

103.2104.0104.8104.3

Government purchasesand services

Total

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

105.0107.1109.0111.8115.7119.4123.9127.1

117.9118.7119.8121.2

122.2123.1124.6125.2

125.8126.1127.4129.3

Federal

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

104.2105.2105.6108.0112.2115.5119.1121.4

114.3114.5115.5117.6

117.9118.3119.7120.2

120.5120.3121.0123.6

of goods

State andlocal

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

105.9109.4113.2116.3119.5123.4129.0133.8

121.6122.9124.2124.9

126.6128.3129.9130.8

131.9132.9134.7135.6

Gross national product bysectors

Private2

51.7

50.445.740.939.943.043.543.445.344.643.9

44.748.755.560.962.062.668.276.381.480.6

81.487.489.089.690.891.694.597.9

100.0101.4

102.8103.7104.7105.8107.0108.9111.6114.7

108.3108.8109.1109.5

110.2111.2112.0112.9

113.5114.0115.1116.1

Generalgovernment

34.1

34.134.533.733.534.834.736.536.537.436.8

36.034.737.339.743.348.355.458.560.864.7

67.170.574.476.679.584.088.793.3

100.0104.2

108.6113.6116.6121.5128.4133.5139.2144.5

131.4132.3134.0136.4

137.4138.1140.0141.0

142.3143.4144.5147.9

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

2 Gross national product less compensation of general government employees. See also Tables B-7 and B-8.


213


TABLE B-4.—Gross national product by major type of product, 1929-67


Year orquarter

Totalgross

na-tionalprod-

uct

103.1

90.475. f58. C55.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7

503.7520.1560.3590.5632.4583.9743.3785.1

Finalsales

101.4

90.777. C60.557.265.871.281.287.985.690.1

97.5120.1156.2192.2211.1213.0202.1231.8252.9259.6

278.0318.1342.4364.1366.4392.0414.5439.8448.8478.9

500.2518.1554.3584.6626.6674.5729.9780.0

Inven-tory

change

1

_- 1- 2- 1—

7

41567

1.11.2

—

24.1.

—1

- 1 .

3

94

258600

6.4— b4.7

- 3 .

6.10.3.

- 1 .6.4.1.

- 1 .4.

1

8314507358

3.62.06.05. 95.89.4

13.5.

41

Goods output

Total

Totalgoods

Finalsales

IIc to

Durable goods

Total Finalsales

Nondurable goods

Total Finalsales 5.S

Serv-ices

Struc-tures

Grossautoprod-uct

1929

1930193119321933 _.193419351936193719381939

1940194119421943194419451946194719481949 . .

1950195119521953195419551956195719581959

I960..1961196219631964196519661967 v

1965: L - . . II I . . .I l l—IV. . .

1966: I . . . .I I . . .Ill —IV.. .

1967: l _ . . .I I . . .III —IV P . .

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

162.4189.7195.6204.1197.1216.4225.4234.6230.8249.1

259.6262.3284.5298.6319.4346.6379.6396.2

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

155.6179.4192.5203.7198.6210.4220.7233.3232.3244.4

256.0260.2278.5292.7313.6337.2366.2391.1

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

6.810.33.1.4

-1 .56.04.71.3

-1 .54.8

3.62.06.05.95.89.4

13.45.1

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

60.473.774.679.472.185.790.394.483.695.6

99.596.5

109.0116.1127.0139.5154.6158.8

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

56.366.873.578.574.682.787.593.186.493.2

97.496.6

106.2113.3122.8132.8144.7155.9

1.4

-1.0-1.2-2.0- . 5

.1

.3

.9

.8- . 9

.3

1.23.01.0

*- . 6-1.3

5.31.7.7

-2.1

4.16.91.1.9

-2.53.02.81.3

-2.82.3

2.1- . 12.82.84.26.79.92.8

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

102.0116.0121.0124.8125.0130.7135.1140.2147.2153.6

160.1165.8175.5182.5192.4207.1225.0237.5

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

99.3112.6119.1125.2124.1127.7133.2140.2145.9151.1

158.6163.7172.2179.4190.7204.4221.5235.2

0.3

.7

.1- . 4

- 1 .- . 9

!31.8

1.01.4.7

- . 6o

.*21.1

-2.24.0

-1.0

2.73.42.0

- . 51.02.91.9

1.32.4

1.52.13.23.11.62.73.52.3

35.6

34.231.727.525.727.128.331.032.333.234.0

35.440.350.362.571.876.568.070.275.7

87.0101.2110.8118.8123.5132.6142.3154.2163.4176.2

187.3199.5213.3226.2244.2262.9287.2311.0

11.4

9.26.73.82.93.54.05.66.76.27.5

8.311.814.08.76.16.5

15.621.427.728.3

35.437.539.141.744.249.051.552.353.158.3

56.8!

58.362.665.768.874.4,76.577.8

662.7675.4690.0708.4

725.9736.7748.8762.1

766.3775.1791.2807.6

652.0666.5680.6698.5

716.0722.6737.4743.6

759.2774.6787.4798.7

10.68.89.49.9

9.914.011.418.5

7.1.5

3.89.0

336.5341.7349.6359.8

369.5375.7381.8391.7

388.1392.1398.7406.1


325.9332.8340.2349.9

359.6361.7370.3373.2

380.9391.6394.9397.1

10.68.89.49.9

9.914.011.418.5

7.1.5

3.89.0

138.2137.0140.9142.9

150.5151.4155.7161.1

153.9155.5161.4164.4

129.6130.0133.9137.9

143.2141.6145.8148.3

150.5156.0157.9159.3

8.77.07.15.0

7.49.79.9

12.8

3.4- . 63.55.1

198.3204.7208.7216.9

219.0224.4226.1230.6

234.2236.6237.3241.8

196.3202.9206.3212.0

216.4220.1224.5224.9

230.5235.5237.0237.8

2.01.82.34.9

2.54.31.55.7

3.71.1.3

4.0

254.6260.1266.0271.0

276.6283.5291.6296.9

303.1307.8313.5319.7

71.673.674.477.6

79.977.475.573.5

75.275.279.081.9

7.28.8

11.9

15.413.512.016.314.621.216.919.514.519.1

21.417.922.525.125.831.429.827.7

32.830.830.631.3

32.329.128.229.6

25.027.827.930.0


214


TABLE B-5.—Gross national product by major type of product, in 1958 prices, 1929-67


Year orquarter

Totalgrossna-

tionalprod-

uct

1929

1930193119321933193419351936193719381939

1940194119421943194419451946.194719481949

19501951195219531954. . . . . .19551956195719581959

196019611962196319641965.. . .1966.. . .1967 v

1965: I . . . .I I . . .III . . .IV.. .

1966: I . . . .I I . . .I I I . .IV.. .

1967: II I . . .III. . .IV p .

203.6

183.5169.3144.2141.5154.3169.5193.0203.2192.9209.4

227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1

355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9

487.7497.2529.8551.0581.1616.7652.6669.2

Finalsales

200.1

184.1171.7150.5145.9157.0167.1189.9197.8195.3208.2

222.3254.1293.8337.3363.2358.2302.6310.1319.1328.1

347.0372.5391.8411.8409.0431.6441.2451.2448.8471.1

484.2495.2523.8545.2575.2607.8639.9664.5

Inven-tory

change

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

- 3 . 9

8.310.93.3.9

-2 .06.44.81.2

-1 .54.8

3.52.06.05.85.88.8

12.64.7

Goods output

Total

Totalgoods

103.9

90.583.268.768.877.988.6

102.2110.2100.5110.7

124.0143.4158.1187.4204.8198.0172.1172.2178.4174.2

192.6208.4214.0225.4215.1236.1239.0239.8230.8247.7

256.0257.3277.3289.7308.6330.0353.7361.

Finalsales

100.4

91.185.774.973.280.586.299.1

104.8102.9109.5

119.0133.8154.1187.6206.7201.0162.1172.4173.8178.1

184.3197.5210.7224.5217.1229.7234.2238.5232.3242.9

252.6255.3271.3283.9302.8321.2341.0356.7

I I

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

-3 .9

8.310.93.3.9

-2 .06.44.81.2

-1 .54.8

3.52.06.05.85.88.8

12.64.7

Durable goods

Total

33.6

22.416.38.3

11.716.921.528.731.021.127.6

35.650.057.285.695.984.354.760.161.358.0

73.484.184.691.081.996.596.596.283.694.0

97.894.9

107.0114.2124.6136.3150.0150.

Finalsales

30.9

24.519.213.413.416.720.626.329.123.427.0

32.843.554.485.297.487.446.158.660.061.0

68.376.183.289.984.893.093.595.086.491.6

95.994.9

104.1111.4120.4129.8140.6148.0

I f

2.7

-2.1-3.0-5.1-1.7

.2

.92.41.9

-2.3.6

2.76.62.9.4

-1.5-3.18.61.51.2

-3 .0

5.28.01.51.2

-3.03.43.01.2

-2.82.4

2.0

2.82.84.16.59.32.5

Nondurable goods

Total

70.4

68.067.060.457.61.067.173.579.279.483.0

88.493.4

100.9101.7108.113.7117.4112.2117.1116.2

119.1124.3129.4134.4133.2139.7142.5143.6147.2153.7

158.2162.3170.3175.6184.1193.7203.7211.0

Finalsales

69.5

66.566.561.559.863.865.672.875.779.582.5

86.290.399.7

102.4109.3113.6116.0113.8113.8117.1

116.0121.4127.6134.6132.3136.7140.7143.6145.9151.2

156.7160.3167.2172.5182.3191.4200.4208.8

2-S

0.8

1.5.5

-1.1-2.7-2.8

1.5.7

3.6- . 1

.6

2.23.11.2

- . 6- .4

L4-1.7

3.3- . 9

3.12.91.8

- . 2.9

3.0

1.32.5

1.52.03.13.11.72.33.32.2

Serv-ices

69.3

67.765.861.963.065.368.173.373.974.876.9

80.089.8

107.7131.8144.0144.3113.3106.5109.3112.4

117.5130.5136.3140.3141.8147.5153.0160.1163.4171.2

176.6184.0193.7200.9210.8222.3235.2245.6

Struc-tures

30.3

25.320.213.79.8

11.112.817.519.117.721.8

23.230.531.917.912.412.927.231.236.137.5

45.244.444.747.050.254.354.052.653.157.0

55.055.858.860.461.664.463.762.1

Grossautoprod-uct


601.5609.7620.7634.4

645.4649.3654.8661.1

660.7664.7672.0679.4

592.2601.7612.0625.2

636.0635.9644.2643.9

654.0664.3668.5671.0

9.38.08.79.2

9.513.410.617.2

6.7.4

3.58.4

321.7324.9332.2341.2

347.9351.0354.7361.1

356.6359.5362.9366.9

312.4316.8323.5332.0

338.5337.6344.1343.9

349.9359.1359.4358.6

9.38.08.79.2

9.513.410.617.2

6.7.4

3.58.4

134.4133.1137.7139.9

147.5147.3150.8154.2

146.6148.3153.0154.1

126.3126.5131.1135.2

140.5138.0141.6142.3

143.6148.9149.8149.6

8.16.66.64.7

7.09.39.2

11.9

3.0- . 63.24.6

187.4191.7194.5201.3

200.4203.7203.9206.9

210.0211.2209.8212.8

186.1190.3192.4196.8

198.0199.7202.5201.6

206.3210.2209.5209.0

1.31.42.14.5

2.44.11.45.3

3.61.0.3

3.8

216.9220.8224.5226.9

229.7233.5237.9239.8

242.7244.4246.9248.4

62.964.064.066.3

67.864.762.260.2

61.360.862.364.1

10.311.414.8

19.115.913.518.717.124.618.620.214.518.5

21.017.522.024.725.531.430.327.8

32.430.731.031.5

33.029.728.829.9

25.328.227.929.7


215


TABLE B—6.—Gross national product: Receipts and expenditures by major economic groups.1929-67

{Billions of dollars]

Year orquarter

1929..

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

1940..194L.1942..1943..1944..1945..1946..1947..1948..1949..

1950195119521953195419551956195719581959

I960. . . .1961196219631964196519661967 v

1965: I . . . .II.__III...IV..

1966: I . . .I I . . .Ill .IV..

1967: I . . . .I I . . .III .IV v.

Persons

Disposable personalincome

Total i

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

350.0364.4385.3404.6438.1472.2508.8544.6

Less:Inter-

estpaidand

trans-fer

pay-mentsto for-eigners

1.9

1.2.9.7.7.6.7.8.9.8.9

1.01.1.8

1.01.41.82.22.4

2.93.13.54.34.65.15.96.46.57.1

7.88.18.69.7

10.711.913.114.2

Equals:Total

exclud-ing in-terestand

trans-fers

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

204.1223.5234.8248.3252.9270.2287.2302.2312.3330.3

342.3356.3376.6394.9427.4460.3495.7530.4

Per-sonalcon-

sump-tionex-

pendi-tures

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

325.2335.2355.1375.0401.2433.1465.9491.6

Per-sonalsaving

ordis-

saving

4.2

3.42.6

- . 6- . 9

.42.13.63.8

2.6

3.811.027.633.437.329.615.27.3

13.49.4

13.117.318.118.316.415.820.620.722.319.1

17.021.221.619.926.227.229.838.7

Government

Net receipts

Taxandnon-taxre-

ceiptsor ac-cruals

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

139.8144.6157.0168.8174.1188.8213.0227.3

Less:Trans-fers,inter-

est,andsub-

sidies 2

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

36.541.342.844.446.749.755.563.7

Equals:Netre-

ceipts

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

103.3103.3114.2124.3127.3139.1157.5163.6

Expenditures

Totalex-

pendi-tures

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

136.1149.0159.9166.9175.4186.1209.8240.0

Less:Trans-fers,inter-est,and

sub-sidies 2

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

36.541.342.844.446.749.755.563.7

Equals:

chasesof

goodsand

serv-ices

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

99.6107.6117.1122.5128.7136.4154.3176.3


456.0464.0479.4489.4

497.5503.3512.4522.0

532.7540.0548.2557. 5

11.411.912.212.4

12.613.013.113.5

13.814.314.314.5

444.6452.1467.2477.0

484.9490.3499.3508.5

518.9525.7533.9543.0

420.2428.1436.4447.8

458.2461.6470.1473.8

480.2489.7495.3501.4

24.524.030.929.3

26.628.729.234.6

38.836.038.541.6

185.4188.3188.3193.2

204.3210.6216.3220.9

222.8223.2229.3

48.748.051.950.4

53.453.156.159.4

63.263.164.464.7

136.7140.3136.4142.8

150.9157.5160.2161.5

159.6160.1164.9

179.8182.0190.0192.6

199.8204.4213.7221.2

233.6238.1242.6246.2

48.748.051.950.4

53.453.156.159.4

63.263.164.464.7

131.3133.9138.1142.3

146.5151.2157.7161.7

170.4175.0178.2181.5

Sur-plusor

deficit(-),

na-tional

in-comeand

prod-uct ac-counts

1.0

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

- L 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

1.8- 1 . 4

2.73.2

-12.7

5.76.2

- 1 . 7.6

4.66.12.6

- . 3

-10.8-15 .0-13.3


2 l 6


TABLE B-6.—Gross national product: Receipts and expenditures by major economic groups,1929-67— Continued


Yearor

quarter

192919301931... .19321933193419351936193719381939 -. . . .194019411942194319441945194619471948.19491950. . . .1951195219531954 . . . . . .1955 . . .1956195719581959. . . .1960 . .1961196219631964...19651966..1967*.

1965: 1IIIllIV -

1966: 1IIIIIIV

1967: 1 . .IIIIIIVP

Grossre-

tainedearn-ings 3

11.28.65.33.23.25.26.46.77.78.08.4

10.511.414.516.317.115.114.520.228.029.729.433.135.136.139.246.347.349.849.456.856.858.766.368.876.283.789.790.4

Business

Grosspri-vate

domes-tic in-vest-

ment *

16.210.35.61.01.43.36.48.5

11.86.59.3

13.117.99.85.77.1

10.630.634.046.035.754.159.351.952.651.767.470.067.860.975.374.871.783.087.194.0

107.4118.0112.1

Excessof in-vest-ment

- 5 . 1- 1 . 6- . 32.21.81.9

- 1 . 8- 4 . 0

1.6- . 9

- 2 . 7- 6 . 5

4.610.610.04.6

-16 .1-13 .8-18 .0- 6 . 0

-24 .7-26 .2-1 6 .8-16 .5- 1 2 . 5-21 .1-2 2 .8-18 .1- 1 1 . 5-18 .5- 1 8 . 0-13 .0-16 .8-18 .4-17 .8-23 .8-28 .3-21 .7

International

Trans-fers to

for-eignersby per-

sonsandGov-ern-ment

0.4.3.3.2.2.2.2.22

.2

.2

.2

.2

.2

.2

.3

.82.92.64.55.64.03.52.52 52.32.52.42.32.42.42.42.62.72.82.82.82.93.0

Net exports of goodsand services

Ex-ports

7.05.43.62.52.43.03.33.54 64.34.45.45.94.84.45.37.2

14.719.716.815.813.818.718.016.917.819.823.626.523.123.527.228.630.332.337.139.143.045.4

Less:Im-ports

5.94.43.12.12.02.43.13.44 33.03.43.64.64.86.57.17.97.28.2

10.39.6

12.015.115.816.615.917.819.620.820.923.323.223.025.126.428.632.237.940.4

Equals:Netex-

ports

1.11.0

.'4

.6

.1

.13

1.31.11.71.3

*- 2 . 0- 1 . 8- . 67.5

11 56.46.11.83.72.2

41.82.04.05.72.2

.14.05.65.15.98.56.95.15.0

Excessof

trans-fersor

of netex-

ports

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

.1

.1_ l

- 1 . 1- . 9

- 1 . 5- 1 . 1

.22.22.11.4

- 4 . 6- 8 . 9- 1 . 9- . 52.2

- . 2.3

2.1.5.5

- 1 . 5- 3 . 4

.22.3

- 1 . 7- 3 . 0- 2 . 5- 3 . 1- 5 . 7- 4 . 1- 2 . 2- 2 . 0

Totalincomeor re-ceipts

102.491.275.157.755.064.572.581.390 584.189.298.7

124.1159.0193.6207.6208.0208.4230.4259.5256.2283.3325.1343.3361.6362.1395.9420.4441.1445.8484.5504.8520.8559.8590.8633.7685.8745.9787.3

Statis-ticaldis-

crep-ancy

0.7- . 8

.7

.3

.6

.5- . 21.2

.61.31.0.4

- 1 . 1- 2 . 0

2.53.9

.19

- 2 . 0.3

1.53.32.23 02.72.1

- 1 . 1*

1.6- . 8- 1 . 0- . 8

.5- . 3

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

Grossna-

tionalprod-uct

or ex-pendi-ture

103.190.475.858.055.665.172.282.590.484.790.599.7

124.5157.9191.6210.1211.9208.5231.3257.6256.5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7503.7520.1560.3590.5632.4683.9743.3785.1


81.982.484.286.2

87.688.489.593.6

88.989.190.4

105.1105.1108.2112.3

115.2118.5116.4122.2

110.4105.1112.2120.7

-23 .2-22.7-24 .0-26 .1

-27 .6-30 .1-26 .9-28 .6

- 2 1 . 5- 1 6 . 0-2 1 .8

2.73.12.92.6

3.42.92.82.5

2.93.13.12.8

35.140.740.340.5

42.042.543.744.0

45.345.145.645.6

28.932.632.934.4

36.037.139.039.7

39.939.840.241.6

6.18.27.46.1

6.15.44.64.3

5.35.35.44.0

—3.5- 5 . 1- 4 . 5- 3 . 4

- 2 . 7- 2 . 5- 1 . 8- 1 . 8

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

666.1677.7690.6708.9

726.8738.8751.9765.9

770.3777.9792.4

- 3 . 4- 2 . 3- . 6- . 5

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

- 4 . 0- 2 . 8- 1 . 2

662.7675.4690.0708.4

725.9736.7748.8762.1

766.3775.1791.2807.6

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 allowances, and

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

See Table B - l l .5 Net foreign investment with sign changed.Source: Department of Commerce, Office of Business Economics.

217


TABLE B-7.—Gross national product by sector, 1929-67


Year orquarter

1929

193019311932193319341935.._1936193719381939

194019411 9 4 2 . . . .194319441 9 4 5 . . . .19461947 . . .19481949

1950195119521953195419551956195719581959

19601961196219631964196519661967*

1965: L . . .IIIII..IV

1966: I.

IllIV

1967: I.

IIIIV v.....

Totalgross

nationalproduct

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7

503.7520.1560.3590.5632.4683.9743.3785.1

Gross private product1

Total

98.8

85.871.253.650.959.566.375.283.577.082.9

91.9115.1142.8166.0177.9176.8187.7214.6240.1237.0

263.9301.0314.3332.7332.4363.8382.6402.0405.2439.4

456.3469.2505.7532.4569.4616.1666.7699.7

Business

Total Nonfarm2 Farm

95.1

82.468.351.348.957.464.172.981.074.580.3

89.1112.2139.5162.4173.8172.3182.7208.6233.5230.1

256.3292.8305.8323.6322.7352.9370.8389.3391.7425.0

440.7452.3487.4513.0548.2593.4642.4673.8

85.4

74.862.046.844.352.757.166.572.767.974.0

82.6103.3126.5147.2158.5156.4163.9188.5210.2211.4

236.3269.9283.7303.3303.1334.1352.2370.9370.9405.3

420.2431.4466.2491.5527.6569.8617.6649.8

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

20.520.921.221.520.623.624.824.0

House-holds

2.9

2.72.31.91.71.81.92.02.32.22.3

2.42.52.93.23.74.14.55.15.65.9

6.46.97.27.88.19.19.8

10.511.412.2

13.214.015.016.017.318.520.121.5

Rest ofthe world


0.8

.7

. 5

.4

.3

.3

.4

.3

.3

.4

.3

.4

.4

.4

.4

.4

.4

.6

.81.01.0

1.21.31.31.31.61.82.12.22.02.2

2.42.93.33.44.04.24.24.5

Grossgovern-

mentproduct 3

662.7675.4690.0708.4

725.9736.7748.8762.1

766.3775.1791.2807.6

597.3608.8621.6637.5

653.0661.5670.6681.9

683.9690.9705.2719.0

575.3586.1598.7614.6

629.4637.6646.2656.9

658.7665.3679.0692.2

553.1562.2574.6590.3

603.3612.8621.6633.0

635.1641.9654.6667.4

22.223.924.124.2

26.024.824.623.9

23.623.324.424.8

17.618.318.919.2

19.719.720.320.6

21.121.421.222.2

4.34.54.13.8

3.94.24.14.4

4.14.24.94.6

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

?0.927.431.231.932.534.236.639.142.144.3

47.550.954.758.163.067.876.685.4

65.466.568.470.9

72.975.178.280.2

82.584.286.088.7

* Gross national product less compensation of general government employees.2 Includes compensation of employees in government enterprises. Government enterprises are those agencies of

government whose operating costs are at least to a substantial extent covered by the sale of goods and services, in contrastto the general activities 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 perform them undergovernmental auspices. The Post Office and public power systems are typical examples of government enterprises. On theother hand, State universities and public parks, where the fees and admissions cover only a nominal part of operating costsare part of general government activities.

3 Compensation of general government employees.Source: Department of Commerce, Office of Business Economics.

218


TABLE B-8.—Gross national product by sector, in 1958 prices, 1929-67


Year orquarter

1929

1930. .193119321933 .1934.. .193519361937 .19381939

194019411942194319441945194619471948.1949

1950195119521953 . . . .19541955 .1956195719581959

1960 .196119621963196419651966 .1967 »

1965: L. . .IIIIIIV

1966:1 .IIIIIIV

1967:1IIIIIIV *>.-.-

Totalgross

nationalproduct

203.6

183.5169.3144.2141.5154.3169.5193.0203.2192.9209.4

227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1

355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9

487.7497.2529.8551.0581.1616.7652.6669.2

Gross private productl

Total

190.9

170.1155.8131.0127.5138.3152.4173.1184.3172.6188.7

205.6236.6257.3272.8286.9282.5275.1281.4295.0294.1

324.2344.6353.2371.1366.2397.2404.8410.5405.2433.4

444.0452.3482.9503.2532.0565.9597.5610.2

Business

Total

182.1

161.4147.7123.8120.6131.1144.9165.4176.4164.6180.7

197.1228.1248.7264.9278.9274.6267.0272.8286.0284.7

314.2334.5343.2360.7355.4385.4392.2397.5391.7419.4

429.5436.9466.7486.6514.4547.8578.9590.6

Nonfarm 2

165.1

145.4129.2105.8103.0116.6128.4150.5158.5146.8162.5

179.6209.3228.0245.3259.5256.5248.6255.8267.0266.2

294.9316.2324.2340.7335.0364.4371.4377.2370.9398.3

407.6414.8444.6463.8492.1524.2556.4566.5

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

21.922.222.122.822.323.622.424.1

House-holds

7.4

7.16.66.05.76.26.46.87.16.87.1

7.67.57.87.27.17.17.17.57.98.2

8.78.88.89.19.2

10.110.610.911.411.7

12.212.412.913.213.714.014.715.3

Rest ofthe world

1.4

1.61.41.31.21.01.11.0.8

1.1.9

1.0.9.8.8.9.8.9

1.11.21.2

1.3

1.21.31,61.82.02.12.02.2

2.32.93.43.43.94.14.04.3

Grossgovern-

mentproduct^

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

43.744.846.947.849.150.855.059.1


601.5609.7620.7634.4

645.4649.3654.8661.1

660.7664.7672.0679.4

551.7559.4569.7582.5

592.3594.8599.0604.2

602.7606.0612.5619.4

534.1541.2551.4564.3

574.0576.3580.2585.1

583.6586.6592.7599.4

510.7517.1527.7541.0

550.8554.4558.0562.7

559.9563.0568.4574.6

23.424.023.723.3

23.222.022.222.4

23.723.624.224.8

13.413.814.214.4

14.614.414.814.9

15.115.315.015.5

4.34.44.03.7

3.84.14.04.3

4.04.04.84.4

49.850.351.151.9

53.154.455.856.9

57.958.759.660.0

1 Gross national product less compensation of general government employees.2 Includes compensation of employees in government enterprises. Government enterprises are those agencies of govern-

ment whose operating costs are at least to a substantial extent covered by the sale of goods and services, in contrast to thegeneral activities of government which are financed mainly by tax revenues and debt creation. Government enterprises, inother words, conduct operations essentially commercial in character, even though they perform them under governmentalauspices. The Post Office and public power systems are typical examples of government enterprises. On the other hand,State universities and public parks, where the fees and admissions cover only a nominal part of operating costs, are partof general government activities.

3 Compensation of general government employees.Source: Department of Commerce, Office of Business Economics.

219


TABLE B-9.—Gross national product by industry, in 1958prices, 1947-66


Year

194719481949

195019511952 .19531954

195519561957 . .19581959

19601961196219631964

19651966

Totalgross

na-tional

product

309.9323.7324.1

355.3383.4395.1412.8407.0

438.0446.1452.5447.3475.9

487.7497.2529.8551.0581.1

616.7652.6

Agri-culture,fores-

try,andfish-eries

17.920.019.4

20.419.520.221.221.6

22.122.021.522.022.3

23.123.423.324.023.6

24.923.7

Con-tractcon-

struc-tion

12.914.114.7

16.218.218.318.919.3

20.821.821.120.722.0

21.721.421.721.923.3

23.724.1

Manufacturing

Total

91.896.390.9

105.5116.2118.7128.6119.5

133.6134.1134.6123.7138.9

140.9140.4154.6162.4173.7

190.1206.4

Dur-able

goodsindus-tries

52.355.050.5

60.869.071.579.171.2

80.779.479.669.679.9

81.079.790.095.6

102.4

114.4125.4

Non-durablegoodsindus-tries

39.441.340.4

44.747.247.349.548.3

52.954.654.954.059.0

59.960.764.766.871.3

75.780.9

Trans-porta-tion,com-muni-cation,

andutili-ties

29.630.428.7

30 834.334.635.736.4

38.640.541.340.643.3

44.946.048.951.954.7

59.163.3

Whnlasaleandretailtrade

52.754.255.2

60.461.462.964.965.5

71.673.875.175.180.8

82.383.588.992.898.9

104.7111.0

Finance,insur-ance,andreal

estate

35.636.537.8

41.042.944.746.849.8

52.754.857.059.261.4

64.167.171.274.478.3

82.685.9

Serv-ices

30.631.932.1

33.134.034.535.335.4

38.240.241.842.945.1

46.748.350.852.254.7

57.259.6

Gov-ern-mentand

govern-mententer-prises

32.433.234.7

35.943.947.247.146.1

46.046.246.947.347.9

49.250.652.653.956.1

58.062.2

Allother i

6.77.1

10.6

12.113.014.014.313.5

14.412.713.116.014.1

14.716.317.917.417.8

16.416.2

* Mining, rest of world, and residual (the difference between gross national product measured as sum of final productsand gross national product measured as sum of gross product by industries).


220


TABLE B-10.—Personal consumption expenditures, 1929-67


Yearor

quarter

1929

193019311932193319341935. . . .1936193719381939

194019411 9 4 2 . - .1943194419451946194719481949

1950195119521953195419551956195719581959

19601961196219631964 . . . .1 9 6 5 . . . .1 9 6 6 . . . .1967 P..

1965:1.II.IllIV

1966: I..IIIIIIV

1967: L.II.II

IVP

tio

np

erso

nal

co

nsu

mp

exp

end

itu

res

ota

l

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.308.319.743.460.773.676.8

91.006.316.730.036.554.466.781.4

290.1311.2

325.2335.2355.1375.0401.2433.1465.9491.6

420.2428.1436.4447.8

458.2461.6470.1473.8

480.2489.7495.3501.4

ota

l

H-

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

45.344.249.553.959.266.070.372.1

65.264.266.168.6

71.668.270.970.6

69.472.572.773.7

Durable goods

no

bile

s an

d p

arts

uto

n

<

3.2

2.21.6.9

1.11.41.92.32.41.62.2

2.73.4.7.8. 8

1.04.06.27.59.9

13.111.611.114.213.618.416.418.315.419.5

20.118.422.024.325.829.929.829.3

30.429.229.830.3

31.428.529.829.6

27.329.729.930.2

ture

an

d h

ou

se-

d e

qu

ipm

en

t£ °u.

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

18.919.320.522.225.027.029.932.0

25.826.127.328.9

29.429.130.630.6

31.431.932.132.6

the

ro

1.2

1.1.9.6.5.6.7.8

1.0.9

1.0

1.11.41.61.92.22.53.23.33.43.2

3.33.63.94.14.24.65.05.25.45.9

6.36.56.97.58.59.1

10.610.8

9.08.89.19.4

10.810.610.510.4

10.710.910.810.9

ota

l

t -

37.7

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

151.3155.9162.6168.6178.7191.2207.5217.5

Nondurable goods

excl

ud

ing

alc

o-

ic b

ever

ages

io

od

,h

oi

u_

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

70.172.174.476.580.586.093.096.4

ing

an

d s

ho

es

2

fo

9.4

8.06.95.14.65.76.06.66.86.87.1

7.48.8

11.013.414.416.518.218.820.119.3

19.621.221.922.122.123.124.124.324.726.4

27.327.929.630.633.536.140.342.8

ine

and

oil

aso

li

CJ

1.8

1.71.51.51.51.61.71.92.12.12.2

2.32.62.11.31.61.83.03.64.45.0

5.46.16.87.78.29.09.8

10.611.011.6

12.312.412.913.514.015.116.217.5

ther

o

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

41.643.545.748.050.654.058.060.8


184.6189.8192.4198.0

203.2207.1209.5210.3

214.2217.2218.5220.2

82.985.386.489.4

91.593.393.693.5

95.296.096.697.7

34.635.636.237.8

39.539.841.040.8

41.543.243.742.9

14.315.115.315.7

15.816.216.316.6

17.117.517.517.8

52.853.854.455.1

56.357.858.559.5

60.460.560.761.8

Services

ota

l

y-

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

128.7135.1143.0152.4163.3175.9188.1202.1

170.4174.2177.8181.2

183,5186.3189.8192.9

196.6200.0204.1207.5

ooc

ou

si

a:

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

46.348.752.055.459.363.667.171.3

61.963.264.265.3

66.266.567.468.5

69.670.671.973.2

iho

ld o

per

atio

n

3>O:c

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

20.020.822.023.124.325.727.028.2

24.725.526.126.5

26.126.927.427.7

27.828.128.128.9

po

rtat

ion

ran

s

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

10.810.611.011.411.612.613.614.7

12.012.512.813.1

13.213.513.714.0

14.414.614.815.1

ther

o

12.2

11.510.38.67.98.28.79.5

10.29.9

10.1

10.411.212.314.015.616.819.721.423.323.9

25.426.928.730.833.235.538.641.344.348.0

51.654.958.062.568.174.080.487.7

71.873.174.776.3

78.079.481.382.7

84.886.689.290.3

1 Quarterly data are estimates by Council of Economic Advisers.2 Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.Source: Department of Commerce, Office of Business Economics (except as noted).

284-593 0—68221


T A B L E B—11.—Gross private domestic investment, 1929—67


Year orquarter

Totalgross

privatedomestic

invest-ment

Fixed investment

Total

Nonresidential

Total

Structures

Total Non-farm

Producers'durable

equipment

Total Non-farm

Residential structures

Total Non-farm Farm

Change inbusiness

inventories

Total Non-farm

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..1966..1967 v

1965: IIII I I . . . . .IV....

1966: IIII I I . . . . .IV....

1967:

" 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

74.871.783.087.194.0

107.4118.0112.1

14.5

10.66.83.43.04.15.37.29.27.48.9

11.013.48.16.48.1

11.624.234.441.338.8

47.349.048.852.153.361.465.366.562.470.5

71.369.777.081.388.298.0

104.6107.0

10.6

8.35.02.72.43.24.15.67.35.45.9

7.59.56.05.06.8

10.117.023.426.925.1

27.931.831.634.233.638.143.746.441.645.1

48.447.051.754.361.171.180.282.5

5.0

4.02.31.2.9

1.01.21.62.41.92.0

2.32.91.91.31.82.86.87.58.88.5

9.211.211.412.713.114.317.218.016.616.7

18.118.419.219.521.225.127.926.8

4.8

3.92.31.2.9

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

17.417.718.518.820.524.427.226.1

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

30.328.632.534.839.946.052.355.7

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

27.725.829.431.236.341.947.851.3

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

22.822.625.327.027.127.024.424.5

3.8

2.21.6.7

'.S1.11.51.81.92.8

3.23.71.91.21.11.46.7

10.413.612.8

18.616.416.417.219.022.720.919.520.124.8

22.222.024.826.426.626.423.823.9

0.2 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

~4i7- 3 . 1

6.810.33.1.4

- 1 . 56.04.71.3

-1 .54.8

3.62.06.05.95.89.4

13.45.1


IIIIIIV P...

105.1105.1108.2112.3

115.2118.5116.4122.2

110.4105.1112.2120.7

94.496.398.8

102.4

105.3104.5104.9103.7

103.3104.6108.4111.7

67.369.371.975.7

78.378.781.282.8

81.981.582.883.8

23.124.725.127.3

28.327.528.227.7

27.726.326.626.5

22.424.024.426.7

27.626.827.426.9

26.925.625.925.8

44.144.646.848.3

50.051.253.155.1

54.255.256.257.3

40.440.742.643.8

45.546.948.750.1

50.050.651.952.9

27.227.026.926.8

27.025.823.720.9

21.423.125.627.9

26.626.526.426.2

26.525.323.220.4

20.922.525.027.4

0.5.5.5.5

.5

.5

.5

.5

.6

.6

.6

.6

10.68.89.49.9

9.914.011.418.5

7.1.5

3.89.0

1.8

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

.2

.42.11.7

-1 .0

1.94.0.7

- . 6- . 6- . 66.41.33.0

- 2 . 2

6.09.12.11.1

-2 .15.55.1.8

-2 .34.8

3.31.75.35.16.48.4

13.74.7

10.17.97.98.7

9.614.412.019.0

7.3.6

3.47.5


222


TABLE B-12.—National income by type of income, 1929-67


Year orquarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

19601961196219631964196519661 9 6 7 p . . . .

1965:1 — -I I . . .ML.IV...

1966: ! . . .

I IL.IV..

1 9 6 7 : 1 . . . .I I . . .I I L .IV p .

Totalna-

tionalin-

come i

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

414.5427.3457.7481.9518.1562.4616.7649.6

Compensation ofemployees

Total

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

154.6180.7195.3209.1208.0224.5243.1256.0257.8279.1

294.2302.6323.6341.0365.7393.9435.7469.6

Wagesandsala-ries

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

146.8171.1185.1198.3196.5211,3227.8238.7239.9258.2

270.8278.1296.1311.1333.7359.1394.6423.7

Sup-ple-

mentsto

wagesandsala-ries 2

0.7

.7

.6

.6

.5:6.6

1.01.82.02.2

2.32.73.23.84.55.65.95.95.86.5

7.89.6

10.210.911.513.215.217.317.920.9

23.424.627.529.932.034.941.145.9

Business and pro-fessional income

Total

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

34.235.637.137.940.241.943.243.6

In-come

ofunin-corpo-ratedenter-prises

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

34.335.637.137.940.342.343.643.9

Inven-toryvalu-ation

adjust-ment

0.1

.8

.6

.3- . 5- . 1

*- . 1

*.2

- . 2*

- . 6- . 4

2- ! i- . i

- 1 . 7- 1 . 5- . 4

.5

- 1 . 1- . 3

.2- . 2

*- . 2- . 5- . 3

j-A

****

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

In-come

offarmpro-prie-tors 3

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

12.012.813.013.112.114.816.114.8

Rentalin-

comertfOf

per-sons

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

15.816.016.717.118.019.019.420.1

Corporate profitsand inventory

Total

10.5

7.02.0

- 1 . 3- 1 . 2

1.73.45.66.84.96.3

9.815.220.324.423.819.219.325.633.030.8

37.742.739.939.638.046.946.145.641.151.7

49.950.355.758.966.374.982.279.1

valuationidjustment

Corpo-

profits

beforetavoc 4taxes *

10.0

3.7- . 4

- 2 . 31.02.33.66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.9

42.643.938.940.638.348.648.847.241.452.1

49.750.355.459.466.876.683.880.1

Inven-toryvalu-ation

adjust-ment

0.5

3.32.41.0

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

*1.0

- . 7

- . 2- 2 . 5- 1 . 2- . 8- . 3- . 6

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

1.9

- 5 . 0- 1 . 2

1.0- 1 . 0- . 3

- 1 . 7- 2 . 7- 1 . 5- . 3- . 5

.2- . 1

.35

- ! 5- 1 . 7- 1 . 6- 1 . 0


544.9555.3566.5582.8

600.3610.4622.1634.1

636.4641.6653.4

381.5388.6397.2408.4

420.8430.7441.2450.2

459.1463.4472.6483.2

347.7354.2362.0372.4

381.3390.2399.6407.4

414.7418.3426.2435.6

33.834.535.236.0

39.540.541.642.7

44.445.246.447.6

41.441.742.042.5

42.843.343.343.4

43.243.443.844.1

13.615.015.215.3

17.116.015.915.1

14.614.315.015.2

18.618.919.119.2

19.219.319.419.6

19.820.020.220.4

72.673.474.978.7

81.181.381.984.6

78.178.379.2

74.075.675.880.8

83.783.684.083.9

79.078.980.0

- 1 . 4- 2 . 1- . 9

- 2 . 2

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

.7

- . 7

Netinter-

est

4.7

4.95.04.64.14.14.13.83.73.63.5

3.33.23.12.72.32.21.51.91.81.9

2.02.32.62.83.64.14.65.66.87.1

8.410.011.613.815.817.920.222.4

17.117.618.218.8

19.319.820.421.1

21.622.122.723.3

1 National income is the total net income earned in production. It differs from gross national product mainly in that itexcludes depreciation charges and other allowances for business and institutional consumption of durable capital goods,and indirect business taxes. See Table B-13.

2 Employer contributions for social insurance and to private pension, health, and welfare funds; compensation forinjuries; directors' fees; pay of the military reserve; and a few other minor items.

3 Includes change in inventories.< See Table B-69 for corporate tax liability and profits after taxes.Source: Department of Commerce, Office of Business Economics.

223


T A B L E B—13.—Relation of gross national product and national income, 1929—67


Year or quarter

1929

1930193119321933193419351936 - . .193719381939

1940194119421943194419451946194719481949

1950 . .1951195219531954 T19551956195719581959

19601961196219631964196519661967*

1965: 1IIIllIV.

1966: 1IIIIIIV

1967: 1II. - .IIIIV *

Grossna-

tionalprod-uct

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157 9191.6210.1211.9208 5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419 2441.1447.3483.7

503 7520.1560 3590.5632.4683.9743 3785.1

Less:Capital

con-sump-tion

allow-ances

7.9

8.07.97.47.06.86.97.07.27.37.3

7.58.29 8

10.211.011.39.9

12.214.516.6

18.321.223.225.728.231.534.137.138.941.4

43 445.250 052.656.159.963.567.0

Equals:Net

tionalprod-

uct

95.2

82.468.050.748.658.265.475.483.377.483.2

92.2116.3148.1181.3199.1200.7198.6219.1243.1239.9

266.4307.2322.3338.9336.6366.5385.2404.0408.4442.3

460.3474.9510 4537.9576.3624.0679.8718.1

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-prises

- 0 . 1

- . 1

**

.3

.4*

.1.2

.5

.4

.1

.2

.7

.8

.9- . 2- . 1- . 1

.2

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

.8

.9

.9

.21.41.4.8

i.31.22.21.8

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

45.247.751.554.758.462.265.169.7

Federal

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

13.513.614.615.316.116.515.916.6

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

31.734.136.939.442.345.749.253.1

Busi-ness

transferpay-

ments

0.6

.5

.6

*7.6.6.6.6.4.5

.4

.5

.5

.5

.5

.5

.5

.6

.7

.8

.8

.910

?.1

1.24587

1.92.02.12.32.52.62.72.8

Sta-tistical

dis-crep-ancy

0.7

— 8.7.36

.5- . 21.2

*.6

1.3

1.0

- 1 1- 2 . 0

2.53.9

1.9

- 2 . 0.3

1.53.32.23.02.72.1

- 1 . 1*

1.6

—1.0- . 8

.5- . 3

— 1.3- 2 . 0—2.6- 2 . 2

Equals:Na-

tionalincome

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 7481.9518.1562.4616.7649.6


662.7675.4690.0708.4

725.9736.7748.8762.1

766.3775.1791.2807.6

58.359.360.561.6

62.463.163.964.7

65.566.467.668.6

604.4616.1629.5646.8

663.6673.6684.9697.4

700.8708.7723.6739.0

1.31.31.11.2

1.42.02.72.6

2.32.01.61.5

61.861.862.263.1

62.964.765.967.0

67.969.170.271.4

17.516.515.716.3

15.215.916.216.3

16.216.516.717.0

44.345.246.446.7

47.748.749.850.6

51.752.653.554.4

2.62.62.62.6

2.62.72.72.8

2.82.82.82.8

- 3 . 4- 2 . 3- . 6- . 5

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

- 4 . 0- 2 . 8- 1 . 2

544.9555.3566.5582.8

600.3610.4622.1634.1

636.4641.6653.4


224


T A B L E B—14.—Relation of national income and personal income, 1929—67


Year or quarter

1929.

1930.19311932.1933.1934.1935.19361937.1938.1939.

1940.1941.1942.19431944.1945.19461947.1948.1949

1950.1951.1952.1953.1954.1955.1956.1957-1958.1959

I960.1961.1962.1963.1964.1965.19661967

1965: I...II-III.IV..

1966: I...II..

IV.

1967: LII._IIIV

Nationalincome

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

414.5427.3457.7481.9518.1562.4616.7649.6

Less:

Corpo-rate

profitsand in-ventory

valuationadjust-ment

544.9555.3566.5582.8

600.3610.4622.1634.1

636.4641.6653.4

10.5

7.02.0

-1 .3-1 .2

1.73.45.66.84.96.3

9.815.220.324.423.819.219.325.633.030.8

37.742.739.939.638.046.946.145.641.151.7

49.950.355.758.966.374.982.279.1

Contri-butions

forsocialinsur-ance

0.2

.3

.3

.3

.3

.3

'.S1.82.02.1

2.32.83.54.55.26.16.05.75.25.7

6.98.28.78.89.8

11.112.614.514.817.6

20.721.424.026.927.929.738.243.0

Wageaccruals

lessdis-

burse-ments

0.2

Plus:

Gov-ernmenttransfer

paymentsto per-

sons

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

26.630.431.233.034.237.241.249.1

Interestpaid

Govern-ment(net)

and byconsumers

2.5

1.81.81.71.61.71.71.71.91.91.9

2.12.22.22.63.34.25.25.56.16.5

7.27.68.19.09.5

10.111.212.012.113.6

15.115.016.117.619.120.422.324.1

Divi-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

13.413.815.216.517.819.821.522.8

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

.91.01.21.11.21.41.51.61.7

1.92.02.12.32.52.62.72.8

Equals:

Personalincome

72.673.474.978.7

81.181.381.984.6

78.178.379.2

29.129.429.830.4

36.637.438.939.8

42.242.543.344.1

36.035.339.437.9

39.739.241.344.7

48.148.649.650.1

19.920.320.620.9

21.422.022.423.2

23.723.924.224.7

18.719.420.220.9

21.421.621.621.2

22.223.123.422.4

2.62.62.62.6

2.62.72.72.8

2.82.82.82.8

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

401.0416.8442.6465.5497.5537.8584.0626.3

520.3530.1544.6556.1

567.8577.3589.3601.6

612.9619.1631.0642.1


225


TABLE B-15.—Disposition of personal income, 1929-67

Year orquarter

Per-sonal

income

Less:Per-

sonaltaxand

nontaxpay-

ments

Equals:Dispos-

ableper-

sonalincome

Less: Personal outlays

Total

Per-sonalcon-

sump-tion

expend-itures

Interestpaid by

con-sumers

Per-sonal

transferpay-

mentsto for-eigners

Equals:Per-

sonalsaving

Percent of disposablepersonal income

Personaloutlays

Total

Con-sump-

tionexpend-

itures

Per-sonalsaving

1 9 2 9 . . . .

1930.. . . .1931 . . . . .1932. . . .1 9 3 3 . . . .1934. . . .1935. . . .1936193719381939. . . .

1940.. . . .1941 . . . .1942. . . .1943194419451946. . . .1947. . . .1948. . . .1949. . . .

1950. . . .1 9 5 1 . . . .1952. . . .1953 . . . .1954. . . .1955. . . .1956. . . .1957. . . .1958. . . .1959. . . .

I960 . . . .1961196219631964.. . .1965. . . .19661967P

1965: I . . . .I I . . .III —IV..

1966: I . . . .I I . . .Ill —IV. . .

1967: I . . .I I . . .I I 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

401.0416.8442.6465.5497.5537.8584.0626.3

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

50.952.457.460.959.465.675.281.7

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

350.0364.4385.3 '404.6438.1472.2508.8544.6

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

193.9209.3220.2234.3241.0259.5272.6287.8296.6318.3

333.0343.3363.7384.7411.9445.0479.0505.8

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

325.2335.2355.1375.0401.2433.1465.9491.6

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

7.37.68.19.1

10.111.312.413.4

0.3

.3

.3

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.1

.2

.4

.5

.7

.7

.7

.5

.5

.4

.4

.5

.5

.5

.6

.6

.6

.6

.5

.5

.5

.6

.6

.7

.6

.8

520.3530.1544.6556.1

567.8577.3589.3601.6

612.9619.1631.0642.1


64.366.165.266.7

70.474.176.979.6

80.279.182.884.6

456.0464.0479.4489.4

497.5503.3512.4522.0

532.7540.0548.2557.5

431.6439.9448.5460.1

470.9474.6483.2487.4

493.9504.0509.6515.9

420.2428.1436.4447.8

458.2461.6470.1473.8

480.2489.7495.3501.4

10.811.211.511.7

12.012.312.512.9

13.113.313.513.8

0.6.7.7.7

.6

.7

.6

.6

.71.0.8.7

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

13.117.318.118.316.415.820.620.722.319.1

17.021.221.619.926.227.229.838.7

24.524.030.929.3

26.628.729.234.6

38.836.038.541.6

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

93.792.492.492.893.694.393.093.393.094.4

95.194.294.495.194.094.294.192.9

94.694.893.694.0

94.794.394.393.4

92.793.393.092.5

92.7

93.894.499.8

100.698.095.293.393.497.695.0

93.686.975.774.474.079.789.694.691.893.8

92.391.090.991.191.992.491.091.291.092.3

92.992.092.292.791.691.791.690.3

92.192.391.091.5

92.191.791.790.8

90.190.790.489.9

5.0

4.64.1

- 1 . 3- 2 . 0

3.'75.45.31.13.7

5.111.823.625.025.519.79.54.37.15.0

6.37.67.67.26.45.77.06.77.05.6

4.95.85.64.96.05.85.97.1

5.45.26.46.0

5.35.75.76.6

7.36.77.07.5


226


TABLE B—16.—Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 prices, 1929-67

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-

1 9 6 0 . .1 9 6 1 . .1 9 6 2 . .1 9 6 3 . .1 9 6 4 . .1 9 6 5 . .1 9 6 6 . .1967 p.

1965: I . .II.IIIIV

1966: I . .II.IIIIV

1967: l .II.IIIIV

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

350.0364.4385.3404.6438.1472.2508.8544.6

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

249.6255.7263.3275.4278.3296.7309.3,315.8318.8333.0

340.2350.7367.3381.3407.9434.4456.3476.0

Per capita(dollars)

Currentprices

683

605516390362414459518552504537

573695867976

1,0571,0741,1321,1781,2901,264

1,3641,4691,5181,5831,5851,6661,7431,8011,8311,905

1,9371,9832,0642,1362,2802,4272,5842,735

1958prices

1,236

1,1281,077

921893952

1,0351,1581,1871,1051,190

1,2591,4271,5821,6291,6731,6421,6061,5131,5671,547

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

1,8831,9091,9682,0132,1232,2322,3172,391

Personal consumption expenditures

Total (billionsof dollars)

Currentprices

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

325.2335.2355.1375.0401.2433.1465.9491.6

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

316.1322.5338.4353.3373.7398.4418.0429.9

Per capita(dollars)

Currentprices


634

567487389364406437483516492510

536604656726782855

1,0141,1151,1841,185

1,2591,3371,3811,4411,4561,5391,5851,6431,6661,758

1,8001,8241,9021,9802,0882,2262,3662,469

1958prices

456.0464.0479.4489.4

497.5503.3512.4522.0

532.7540.0548.2557.5

422.2427.2440.2448.2

451.8452.6458.4463.2

470.6474.9477.5481.8

2,3542,3882,4592,502

2,5372,5602,5982,639

2,6862,7162,7492,787

2,1792,1992,2582,291

2,3042,3022,3242,341

2,3732,3882,3942,409

420.2428.1436.4447.8

458.2461.6470.1473.8

480.2489.7495.3501.4

389.1394.1400.7409.9

416.2415.2420.4420.4

424.2430.6431.5433.2

2,1692,2042,2392,289

2,3372,3482,3842,395

2,4212,4632,4842,507

1,145

1,0591,016

919897934985

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

1,7491,7551,8131,8651,9452,0472,1232,159

2,0082,0292,0562,096

2,1222,1122,1322,125

2,1392,1652,1642,166

Popu-lation(thou-

sands) *

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

180,684183,756186,656189,417192,120194,592196,920199,118

193,734194,269194,941195,594

196,096196,629197,216197,834

198,356198,852199,425200,006

i Population of the United States including Armed Forces overseas. Annual data are for July 1; quarterly data are formiddle of period, interpolated from monthly data.

Sources: Department of Commerce (Office of Business Economics and Bureau of the Census) and Council of EconomicAdvisers.

227


TABLE B-17.—Sources of personal income, 1929-67


Year or quarterTotalper-

sonalincome

Wage and salary disbursementsl

Total

Commodity-producingindustries

TotalManu-factur-

ing

Distrib-utive

indus-tries

Serviceindus-tries

Gov-ern-ment

Otherlabor

in-come1

Proprietors'income

Busi-nessand

profes-sional

Farm 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..1966..

1965: I.

III.IV.

1966: I.

1967:

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

401.0416.8442.6465.5497.5537.8584.0626.3

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

270.8278.1296.1311.1333.7359.1394.6423.7

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

112.5112.8120.8125.7134.1144.5159.3167.1

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

100.6107.2115.6128.1134.3

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

68.169.172.576.081.286.993.9

100.8

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

41.544.046.849.954.158.363.569.5

4.9

5.25.35.05.16.16.57.97.58.28.2

8.410.216.026.633.034.920.717.418.920.6

22.428.933.134.134.636.238.340.443.545.6

48.752.256.059.564.369.377.986.3

0.6

.6

.5

.5

.4

.4

.5

.6

.6

.6

.6

.7

.7

.91.11.51.81.92.32.73.0

3.84.85.36.06.37.38.49.59.9

11.3

12.012.713.914.916.618.620.823.2


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

34.235.637.137.940.241.943.243.6

520.3530.1544.6556.1

567.8577.3589.3601.6

612.9619.1631.0642.1

347.7354.2362.0372.4

381.3390.2399.6407.4

414.7418.3426.2435.6

140.7142.4145.2149.7

154.2158.0161.0164.1

165.7164.8167.4170.6

112.4113.8116.4119.7

123.1126.9129.7132.6

133.1132.6134.6136.9

84.486.287.689.6

91.393.094.996.5

98.799.6

101.7103.2

55.857.659.360.7

61.462.964.365.5

67.068.870.272.0

66.867.969.872.5

74.376.479.481.4

83.485.086.989.8

17.918.418.919.4

20.020.521.121.7

22.222.923.624.3

41.441.742.042.5

42.843.343.343.4

43.243.443.844.1

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

12.012.813.013.112.114.816.114.8

13.615.015.215.3

17.116.015.915.1

14.614.315.015.2


228


T A B L E B—17.—Sources of personal income, 1929—67—Continued


Year orquarter

Rentalncome

of per-sons

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

15.816.016.717.118.019.019.420.1

Divi-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

13.413.815.216.517.819.821.522.8

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

23.425.027.731.434.938.442.446.5

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

28.532.433.335.336.739.743.951.9

Old-ageand sur-

vivorsinsur-ance

benefits

**

*0.1.1.2.2.3.4.5.6.7

1.01.92.23.03.64.95.77.38.5

10.2

11.112.614.315.216.018.120.825.7

Stateunem-ploy-

ment in-surancebenefits

*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

2.84.02.92.82.62.21.82.1

Vet-erans'

hpnpfitcUvllclllo

0.6

.61.6.8.5

!51.9.6.5.5

.5

.5

.5

.5

.92.86.76.75.85.1

4.93.93.93.73.94.34.34.44.64.6

4.64.84.85.05.35.65.76.6

Other

0.9

.91.11.41.61.81.91.61.81.92.0

2.02.22.22.22.42.73.13.74.14.9

7.95.96.06.36.56.87.27.98.79.4

10.010.911.212.212.913.815.617.5

Less:Personalcontri-butions

for socialinsur-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

10.311.812.513.417.920.4

Non-agricul-

turalpersonalincome 3

1929

1 9 3 0 . . . .193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959. . .

1960196119621 9 6 3 . . . . . . . . .1964196519661967 v

1965: I.IIIllIV

1 9 6 6 : IIIIllIV

1 9 6 7 : IIIIII

77.6

70.860.846.743.249.853.963.066.762.666.9

72.387.^

111.0137.3151.2156.4161.0173.0189.4191.3

210.9236.4254.1271.9274.7296.4318.5336.6344.3368.5

385.2400.0425.5448.1480.9518.4563.1606.4


18.618.919.119.2

19.219.319.419.6

19.820.020.220.4

18.719.420.220.9

21.421.621.621.2

22.223.123.422.4

37.037.938.839.7

40.741.942.844.3

45.246.046.948.0

38.637.842.040.5

42.441.944.047.5

50.851.452.452.9

16.716.620.418.6

19.419.621.023.2

24.725.626.226.4

2.42.22.22.0

2.01.61.81.8

2.12.12.21.9

5.55.65.75.7

5.95.45.46.3

6.56.56.66.7

14.113.413.714.1

15.115.315.816.2

17.617.017.417.9

13.113.313.513.8

17.117.318.418.7

20.020.220.520.8

502.3510.5524.8536.1

545.9556.5568.5581.4

593.1599.6610.9621.8

1 The total of wage and salary disbursements and other labor income differs from compensation of employees inTable B-12 in that it excludes employer contributions for social insurance and the excess of wage accruals overwage disbursements.

2 Includes change in inventories.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.Source: Department of Commerce, Office of Business Economics.

229


TABLE B-18.—Sources and uses of gross saving, 1929-67


Year or quarter

1929

1930193119321933193419351936193719381939

194019411942194319441945194619471948 .1949

1950195119521953195419551956195719581959

196019611962 .19631964 . . .196519661967 *

1965: 1IIIIIIV

1966: 1IIIIIIV

1967: 1IIIIIIV v

Gross

Total

16.3

11.85.1.8.9

3.26.67.2

11.97.08.8

13.618.610.75.52.55.2

35.142.049.935.9

50.456.149 547.548.564.872 771 259 273.8

77 575.585.090.5

101.0113.5122.7116.5

private saving and government surplus ornational income and product accounts

Private saving

Total

15.3

12.18.02.52.35.68.6

10.311.58.7

11.0

14.322.442.049.754.344.729.727.541.439.0

42.550.353 354.455.662.167.870 571.775.9

73.979.887.988.7

102.4110.8119.5129.2

Per-sonalsaving

4.2

3.42.6

- . 6- 9

.42.13.63.8

2! 6

3.811.027.633.437.329.615.27.3

13.49.4

13.117.318 118.316.415.820 620 722.319.1

17.021.221.619.926.227.229.838.7

Grossbusi-ness

saving

11.2

8 65.33.23 25.26.46.77.78.08.4

10.511.414 516 317.115.114.520.228.029.7

29.433.135 136 139.246.347 349 849 456.8

56 858.766.368.876.283.789.790.4

deficit,

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

-12 .5- 2 . 1

3.7- 4 . 3- 2 . 9

1.8- 1 . 4

2.73.2

-12.7

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

- 3 3 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 . 01.4.3

-12.6

Stateandlocal

- 0 . 2

- 6- . 8- . 3

.5

.6

.5

.7

.4(2)

.61.31 82.52.72.61.91.0.1

- . 7

—1.2- . 4(3)W l

- 1 . 1- 1 . 3- . 9

- 1 . 4- 2 . 3- . 8

.2- . 5

.91.21.71.22.9

- . 1

Gross investment

Total

17.0

11 05.81.11 63.86.48.4

11.87.6

10.2

14.619.09 63.55.09.1

35.242.947.936.2

51.859.551 650.551.366.971.671.260.773.0

76.574.785.590.399.7

111.5120.2114.1

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

74.871.783.087.194.0

107.4118.0112.1

Netforeigninvest-ment i

0.8

.7

.2

.2

.2

.4- . 1- . 1

.11.1.9

1.51.1

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

4.68.91.9.5

- 2 . 2.2

- . 3- 2 . 1- . 5- . 51.53.4

- . 2- 2 . 3

1.73.02.53.15.74.12.22.0

Statis-ticaldis-

ancy

0.7

- . 8.7.3.6

-.21.2

*.6

1.3

1.0.4

- 1 . 1- 2 . 0

2.53.9

.9- 2 . 0

.3

1.53.32.23.02.72.1

- 1 . 1*

1.6- . 8

- 1 . 0- . 8

.5- . 3

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


112.0112.5113.3116.2

118.7123.1121.3127.9

116.9110.1115.7

106.3106.3115.0115.6

114.1117.0118.7128.2

127.7125.1129.0

24.524.030.929.3

26.628.729.234.6

38.836.038.541.6

81.882.384.186.3

87.588.389.593.6

88.989.190.4

5.76.2

- 1 . 7.6

4.66.12.6

- . 3

-10 .8-15 .0-13.3

4.54.9

- 3 . 2- . 4

2.23.2

- . 7- 3 . 3

-11 .9-14.7-13.2

1.21.21.51.1

2.42.93.33.0

1.0- . 2- . 1

108.6110.2112.7115.8

117.8121.0118.1124.0

112.9107.3114.5121.9

105.1105.1108.2112.3

115.2118.5116.4122.2

110.4105.1112.2120.7

3.55.14.53.4

2.72.51.81.8

2.52.32.31.2

- 3 . 4- 2 . 3- . 6- . 5

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

- 4 . 0- 2 . 8- 1 . 2

1 Net exports of goods and services less net transfers to foreigners.2 Surplus of $32 million.3 Deficit of $41 million.Source: Department of Commerce, Office of Business Economics.

230


TABLE B—19.—Financial saving by individuals, 1939—67l


Year or quarter

1939

1940194119421943194419451946194719481949

195019511952 .1953..195419551956195719581959

19601961195219631964196519661967P

1965:1IIIIIIV

1966:1-IIIIIIV

1967:1II .Ill

3.0

2.9o o27.135.938.435.013.25.0.51.6

-.38 110.49.08.55.212.215.019.714.0

6.318 922.123.030 029.829.847.8

5.76.010.17.9

5.47.28.78.5

11.510.016.010.?

Total

Cur-rencyandbankde-

posits

3.0

2.94.8

10.916.217.519.010.62.0

- 1 . 8- 1 . 4

3.55.97.04.75.43.44.84.8

10.24.1

2.49.5

17.718.419.423.312.528.9

1.95.08.08.4

- 1 . 64.73.45.9

5.58.4

10.64.5

Sav-ings

shares

0.1

.3

.4

.3

.6

.91.11.21.31.31.6

1.72.33.34.04.75.25.35.26.47.2

8.29.29.9

11.711.49.44.5

11.8

2.12.71.43.4

1.41.1

- . 52.6

2.54.02.03.3

Securities

Total

- 0 . 8

- . 42.6

10.314.115.79.9

-1 .42.23.02.3

.9

.73.43.4

.26.25.25.31.1

10.2

-1 .01.1

- . 4.5

6.13.9

14.5.7

.91.8.7.5

4.93.34.71.6

-1 .6-4 .6

3.53.4

U.S.sav-ings

bonds

OtherGov-

ment3

0.7

.92.88.0

11.111.86.91.02.01.61.5

.3- . 5

.1

.2

.6

.3- . 1

-1 .9

- . 2.8.4

1.2.9.6.6.9

.2

.1

.1

.2

.1

.2

'.2

. 2

.2

.3

.2

- 0 . 9

.42.33.34.64.2

-2 .6- . 2

.5

.1

- . 1- . 51.22.0

- 1 . 13.73.24.4

-1 .111.0

- . 9- . 6

.71.65.13.6

12.3- . 3

.71.4.9.7

4.32.23.91.9

- 1 . 1-4 .4

3.22.1

rateand

other

-0 .6

- . 4- . 5

*- . 3- . 7-1.2

.2

.4

.9

.7

.71.62.11.2.6

2.32.02.72.61.0

.11.0

-1.5-2.4

- ! 41.7.1

.3- . 3- . 4

.51.0.8

- . 6

1.2

Pri-vate

insur-anceandpen-sionre-

serves

1.5

1.61.92.22.62.93.23.13.53.33.5

3.73.84.44.54.75.05.04.64.84.9

4.85.25.76.26.77.66.87.6

1.91.71.92.2

1.91.51.51.9

2.01.51.92.1

Non-in-

suredpen-sion

funds

Gov-ern-mentinsur-anceandpen-sionre-

serves4

0.1

.1

.1

.1

.2

.6

.9

.3

.3

.4

.6

.91.51.72.02.22.32.73.13.23.6

4.04.14.24.54.95.66.27.0

1.41.31.31.7

1.31.51.32.2

1.61.51.82.0

0.3

.3

.3

.71.32.33.12.51.72.01.8

- . 61.71.91.71.71.82.32.62.93.0

3.23.23.74.04.54.85.05.5

1.01.31.31.3

1.11.21.31.4

1.11.41.41.5

Less: Increase indebt

Mort-gagedebts

Con-sumerdebts

0.5

.9

.8

.1- . 4- . 1

.23.13.94.73.9

6.57.06.17.28.3

12.010.6

8.18.2

12.5

10.910.912.514.515.515.912.79.7

3.93.44.14.5

4.43.02.62.7

1.81.62.53.7

0.8

1.0.7

-3 .0-1 .0

.1

.52.32.82.42.6

3.71.04.43.71.06.23.32.5

.26.1

4.21.55.06.97.59.06.53.3

- . 33.52.43.4

- . 42.61.62.8

-1 .91.91.12.2

Secu-rities

loans7

- 0 . 2

- . 2- . 1

.3

.61.41.5

- 2 . 3- . 8

.4

.3

.2- . 3

.6

.4

.9

.6- . 8- . 1

.4

.2

.31.01.1.9.1.1.5

- . 1.7

-2 .01.5

- . 4.5

-1 .11.5

- . 2-1 .2

1.6.6

1 Individuals' saving, in addition to personal holdings, covers saving of unincorporated business, trust funds, and non-profit 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 government securities,

and nonguaranteed Federal agency issues.* Includes civil service, railroad retirement, and State and local retirement systems.5 Mortgage debt to institutions on one- to four-family nonfarm dwellings.6 Consumer debt owed to corporations. Policy loans on Government and private life insurance have been deducted

from those items of saving.7 Change in bank loans to brokers, dealers, and others for the purpose of purchasing or carrying securities.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 of Commerce are derived as thedifference between personal i ncome (after taxes) and personal outlays. For a reconciliation of the two series, see Securitiesand Exchange Commission "Statistical Bulletin," August 1967, and "Survey of Current Business," July 1967.

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

Source: Securities and Exchange Commission.

231


TABLE B-20.—Number and money income of families

Year

194719481949 .

19501951195219531954

19551956 --195719581959

I960 .1961196219631964 . . . .

19651966

194719481949 . . .

19501951195219531954 . .

195519561957 -1958 -.1959

I960 .1961196219631964

19651966

and unrelated individuals,1947-66

Families^

Total

Number(millions)

37.238.639.3

39.940.640.841.242.0

42.943.543.744.245.1

45.546.347.047.447.8

48.348.9

Medianincome (1966

prices)

$4,4014,2994,230

4,4794,6364,7605,1615,036

5,3775 7275,7275,7086,041

6,1746,2436,4046,6376,871

7,1547,436

With incomes under $3,000(1966 prices)

Number(millions)

10.811.512.2

11.510.810.39.8

10.6

9.89.09.19.38.9

8.99.08.58.37.8

7.57.0

Percent oftotal

28.929.731.0

28.926.725.323.925.3

22.820.720.921.019.7

19.519.418.117.516.4

15.514.3

Unrelated individuals 2

Total

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

12.112.4

Medianincome (1966

prices)

$1,4371 3951,457

1,4481,4961,7401,7101,484

1,6101,7201,7731,7301,773

1,9081,9161,8961,9192,080

2,2222,270

With incomes under $1,500(1966 prices)

Number(millions)

4.24.54.6

4.84.64.44.54.9

4.84.54.75.04.9

4.84.84.64.64.8

4.54.6

Percent oftotal

51.653.051.2

51.550.145.746.950.4

48.046.145.046.044.9

43.242.541.841.340.0

36.936.7

1 The term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residing together;all such persons are considered members of the same family.

2 The term "unrelated individuals" refers to persons 14 years of age and over (other than inmates of institutions) whoare not living with any relatives.

Source: Department of Commerce, Bureau of the Census.

232


POPULATION, EMPLOYMENT, WAGES, ANDPRODUCTIVITY

TABLE B-21.—Population by age groups: Estimates, 1929-67, and projections, 1970-85[Thousands of persons]

July 1 Total

Age (years)

Under 5 5-13 14-19 20-24 25-44 45-64 65 andover

Estimates:1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519661967

Projections:l

1970: Series A . . .Series D_._.

1975: Series A . . .Series D

1980: Series A . . .Series D . . .

1985: Series A . . .Series D . . .

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

180,684183,756186,656189,417192,120

194,592196,920199,118

208,615204,923

227,929215,367

250,489227,665

274,748241,731

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

20,36420,65720,74620,75020,670

20,40419,81119,191

21,31717,625

27,21018,323

31,04020,736

33,28823,030

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

32,98533,29633,94334,60635,301

35,88936,54436,965

37,22437,224

37,88434,209

45,21532,695

53,49735,933

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

16,21717,56618,48319,07519,812

20,63721,58221,697

23,13623,136

25,13225,132

24,62124,621

26,89421,699

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

11,11611,40811,88912,62013,154

13,67914,06315,197

17,261

19,299

20,997

21,068

35,862

36,30936,65436,98837,31937,662

37,98738,28838,58938,95439,354

39,86840,38340,86141,42042,016

42,52143,02743,65744,28844,916

45,67346,10346,49446,78647,002

47,19547,38047,44147,33647,192

47,13447,06146,96946,93346,881

46,80746,85547,077

48,276

53,881

62,374

72,083

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

36,20836,75637,31637,86838,438

39,01539,60140,194

41,817

43,364

43,180

42,940

6,474

6,7056,9287,1477,3637,582

7,8048,0248,2578,5088,764

9,0319,2889,5849,86710,147

10,49410,82811,18511,53811,921

12,39712,80313,20313,61714,076

14,52714,93715,38715,80516,248

16,65917,01317,31117,56517,863

18,16218,46418,796

19,585

21,159

23,063

24,978

i Two of four series projected by the cohort method and based on different assumptions with regard to completedfertility, which moves gradually toward a level of 3,350 children per 1,000 women for Series A and 2,450 children per1,000 women for Series 0. For further explanation of method of projection and for additional data, see "Population Esti-mates, Current Population Reports, Series P-25, No. 381," December 1967.

Note.—Data for Armed Forces overseas included beginning 1940.Source: Department of Commerce, Bureau of the Census.

233


TABLE B-22.—Noninstitutional population and the labor force, 1929-67

Year or month

Nonin-stitu-tionalpopu-lation

Totallaborforce

(includ-ing

armedforces)

Armedforces

Civilian labor force

Total

Employment

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-ment

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent ofcivilianlaborforce

Thousands of persons 14 years of age and over

19301931193219331934

19351936193719381939

19401941194219431944

194519461947

100,380101,520102 610103,660104,630

105,530106,520107,608

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519661967

1966: Jan..Feb..Mar..Apr..May..June-July.Aug..Sept.Oct-Nov..Dec.

103,418104,527105,611

106,645107,721108,823110,601111,671

112,732113,811115,065116,363117,881

119,759121,343122,981125,154127,224

129,236131,180133,319

130,285130,436130,599130,749130,925131,083

131,236131,419131,590131,772131,949132,121

49,440

50,08050,68051,25051,84052,490

53,14053,74054,32054,95055,600

56,18057,53060,38064,56066,040

65,30060,97061,758

260

260260250250260

270300320340370

5401,6203,9709,02011,410

11,4403,4501,590

49,180

49,82050,42051,00051,59052,230

52,87053,44054,00054,61055,230

55,64055,91056,41055,54054,630

53,86057,52060,168

47,630

45,48042,40038,94038,76040,890

42,26044,41046,30044,22045,750

47,52050,35053,75054,47053,960

52,82055,25057,812

10,450

10,34010,29010,17010,0909,900

10,11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,256

37,180

35,14032,11028,77028,67030,990

32,15034,41036,48034,53036,140

37,98041,25044,50045,39045,010

44,24046,93049,557

1,550

4,3408,02012,06012,83011,340

10,6109,0307,70010,3909,480

8,1205,5602,6601,070670

1,0402,2702,356


60,94162,08062,903

63,85865,11765,73066,56066,993

68,07269,40969,72970,27570,921

72,14273,03173,44274,57175,830

77,17878,89380,793

76,45876,70277,04377,81278,45980,727

80,83880,66578,98279,48879,89579,642

1,5911,4561,617

1,6503,1003,5943,5473,350

3,0492,8572,8002,6362,552

2,5142,5722,8282,7382,739

2,7233,1233,446

2,8902,9242,9743,0083,0453,099

3,1353,1783,2293,2793,3223,390

59,35060,62161,286

62,20862,01762,13863,01563,643

65,02366,55266,92967,63968,369

69,62870,45970,61471,83373,091

74,45575,77077,347

73,56873,77874,06974,80475,41477,628

77,70377,48775,75076,20976,57376,252

57,03958,34457,649

58,92059,96260,25461,18160,110

62,17163,80264,07163,03664,630

65,77865,74666,70267,76269,305

71,08872,89574,372

70,34070,67671,08372,07772,62074,038

74,65574,66673,24873,74473,99573,599

7,8917,6297,656

7,1606,7266,5016,2616,206

6,4496,2835,9475,5865,565

5,4585,2004,9444,6874,523

4,3613,9793,844

3,4493,4783,6454,0204,0974,704

4,5804,3084,1864,1143,8153,360

49,14850,71349,990

51,76053,23953,75354,92253,903

55,72457,51758,12357,45059,065

60,31860,54661,75963,07664,782

66,72668,91570,527

66,89167,19867,43968,05568,52369,333

70,07670,35969,06369,63070,18070,239

2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,975

3,2283,1022,9862,7292,7943,591

3,0482,8212,5052,4662,5772,653

Percent

56.056.758.862.363.1

61.957.257.4

3.2

8.715.923.624.921.7

20.116.914.319.017.2

14.69.94.71.91.2

1.93.93.9

Percent

58.959.459.6

59.960.460.460.260.0

60.461.060.660.460.2

60.260.259.759.659.6

59.760.160.6

58.758.859.059.559.961.6

61.661.460.060.360.560.3

3.93.85.9

5.33.33.02.95.5

4.44.14.36.85.5

5.56.75.55.75.2

4.53.83.8

4.44.24.03.63.74.6

3.93.63.33.23.43.5


234


TABLE B-22.—Noninstitutional population and the labor force, 1929-67—Continued

Year or month

1967: Jan..Feb.Mar.Apr.May.June

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

1966: JanFebMar -AprMayJune -

JulyAugSeptOctNovDec

1967: JanFebMarAprMayJune

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

Nonin-stitu-tionalpopu-lation

Totallaborforce

(includ-ing

armedforces)

Armedforces

Civilian labor force

Total

Employment

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-ment


132,295132,448132,627132,795132,969133,168

133,366133,645133,847134,045134,224134,405

78,70679,10778,94979,56079,55182,464

82,92082,57180,98281,59581,58281,527

3,3863,4183,4363,4493,4563,444

3,4493,4593,4563,4633,4693,469

75,32075,68975,51376,11176,09579,020

79,47179,11277,52678,13278,11378,057

72,16072,50672,56073,44573,63775,391

76,22176,17074,63175,18175,21875,338

3,3353,2813,4103,7213,8254,395

4,5164,3783,9314,0333,7593,545

68,82669,22569,14969,72469,81270,996

71,70571,79270,70071,14871,46071,793

3,1603,1832,9542,6662,4573,628

3,2502,9422,8952,9512,8942,719

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent ofcivilian

laborforce

Seasonally adjusted

78,24578,05078,09178,34978,19478,767

78,90579,24779,26879,36079,93480,154

80,47380,44379,95980,18979,64580,681

80,95481,16081,25981,46081,57682,051

75,35575,12675,11775,34175,14975,668

75,77076,06976,03976,08176,61276,764

77,08777,02576,52376,74076,18977,237

77,50577,70177,80377,99778,10678,582

72,41072,34172,26672,54272,25372,730

72,84673,14173,19573,19973,89773,893

74,25574,13773,74773,91073,28974,147

74,48974,71874,62574,63075 08375,681

4,1444,1554,1134,1993,9023,981

3,9263,9353,8863,7793,8924,011

4,0153,8903,8553,8903,6523,727

3,8563,9923,6763,7073,8294,264

68,26668,18668,15368,34368,35168,749

68,92069,20669,30969,42070,00569,882

70,24070,24769,89270,02069,63770,420

70,63370,72670,94970,92371,25471,417

2,9452,7852,8512,7992,8962,938

2,9242,9282,8442,8822,7152,871

2,8322,8882,7762,8302,9003,090

3,0162,9833,1783,3673,0232,901

Percent

59.559.759.559.959.861.9

62.261.860.560.960.860.7

4.24.23.93.53.24.6

4.13.73.73.83.73.5

3.93.73.83.73.93.9

3.93.83.7

3'. 53.7

3.73.73.63.73.84.0

3.93.84.14.313.9 |3.7J

Mote —Labor force data in Tables B-22 through B-25 are based on household interviews and relate to calendar weekincluding the 12th of the month. For definitions of terms, area samples used, historical comparability of the data, com-parability with other series etc., see "Employment and Earnings and Monthly Report on the Labor Force," February 1968.

Source: Department of Labor, Bureau of Labor Statistics.

235


T A B L E B—23.—Civilian employment and unemployment, by sex and age, 1947—67

[Thousands of persons 16 years of age and over]

Year ormonth

Employment

Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

Unemployment

Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

1947.1948.1949.

57,039 40,99458,344 4157,649 40;

2,218 38,7762,345 39,3822,124138,803

19501951195219531954

58,920 4159,96260,254 41•1,18110,"",110 41

,58041,78041,68442,431",620

16,04516,61816,723

2,186139,3942,156 39,626 _ ,2,106 39,578 18,2,135 40,2961,985 39,634

1955.1956.1957.1958.1959.

I960.1961.1962.1963.1964.

1965.1966.1967.

62,171 ._,53,802 43,54,071 .,53,036 42,54,630 43,

42,62143,38043,357"\423

;, 466

2,095 40,526 19,!2,164 41,216 20,-2,117 41,239 20,;2,012 40,411;

1,550),422), 714

20,6132,198 41,267 21,164

15,778 43,65,746 43:66,70267,762 44,59,305 45,474

1,9041,656

44,177"1,657

088 46,340895 46,919372 47,479

17,34018,18218,57018,75018,490

1,69114,3541,683 14,9371,58815,137

1,517 15,8241,611 16,570

2,360 41,543 212,314 41,342 22;2,362 41,815 22!2,406 42,251

,874!,090!, 525

23,1052,587 42,886 23,831

2,918 43,422 24,3,252 43,667 25,3,186 44,293 26,

1,612 16,9581,584 17,1641,49017,000

1,548 18,0021,654 18,7671,663 19,0521,57019,0431,64019,524

1,769 20,1051,793 20,2961,833 20,6931,849 21,2571,929 21,903

2,118 22,6302,469 23,5072,496 24,397

2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,975

1,6921,5592,572

2,2391,2211,1851,2022,344

1,8541,7111,8413,0982,420

2,4862,9972,4232,4722,205

1,9141,5511,508

270255352

318191205184310

274269299416398

425479407500487

479432448

1,4221,3052,219

1,9221,029980

1,0192,035

1,5801,4421,5412,6812,022

2,0602,5182,0161,9711,718

1,4351,1191,059

619717

1,065

1,049834698632

1,188

9981,0391,0181,5041,320

1,3661,7171,4881,5981,581

1,4521,3241,468

144152223

195145140123191

176209197262256

286349313383386

395404390

475564841

854689559510997

823832821

1,2421,063

1,3681,1751,2161,195

1,056919

1,078

Seasonally adjusted

1966: Jan...Feb...Mar...Apr...May...June..

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

1967: Jan...Feb..Mar..Apr..May..June-July..Aug..Sept..Oct...Nov..Dec.

'2,410'2,3414 ,'2,266 46,85972,542 47,01672,253 46,736

46,849

2,730 46,960

72,846 46,91773,141 ......'3,195 46,76973,199 46,82473,897 47, " *73,893 47,

74,255 47,74,137 47\73,747 47,73,910 47,73,289 47,74,147

74,489 47,74,718 47,74,625 ,74,630 4775,083 47!75,681

,876

7,0117,116

,533',477,358,273,050

47,448

,555,712

47,479'V25,548

47,892

3,256 43,620 25,5343,204 43,645 25,492

25,40725,52625,517

3,242 43,6173,285 43,7313,112 43,6243,345 43,615

3,340 43,577 25,9293,348 43i 688 26,1053,114 43,655 26,426

26,37526,88626,777

3,170 43,6543,300 43,7113,218 43,898

25,770

3,306 44,227 L_,3,239 44,238 26,3,348 44,010 26,3,181 44,092 26,3,128 ._, , _ . .3,292 44,158 26,699

3,213,233,043,050 44;3,068 44,3,094 44,798 27

44,338 26,44,479 27,44,435

•,375,480

26,722~ 662

389637

i,934,006.

27,14627,20527, 535",789

2,3842,3802,3372,3872,3752,499

2,5072,5492,432

23,15023,11223,07023,13923,14223,271

23,42223,55623,994

2,484 23,8912,6082,610

2,5942,6052,5572,635

2,513

2,365

2,4422,441

24,27824,167

24,12824,05723,83424,002

2,466 23,7732,605 24,094

24,4212,448 24,558

24,7812,378 24,827

25,09325,348

2,9452,7852,8512,7992,8962,938

2,9242,9282,8442,8822,7152,871

2,8322,8882,7762,8302,9003,090

3,0162,9833,1783,3673,0232,901

1,6251,5491,5961,5001,5321,593

1,5871,5431,5161,4891,4731,537

1,4261,4521,4131,4721,5631,619

1,5191,5391,4711,6781,6041,436

448411444420449449

441409435420387448

414468376424464461

424459430540521423

1,1771,1381,1521,0801,0831,144

1,1461,1341,0811,0691,0861 ~ ~

1,012986

1,0371,0481,0991,158

1,0951,0801,0411,1381,0831,013

1,3201,2361,2551,2991,3641,345

1,3371,3851,3281,3931,2421,334

1,4061,438,363,358,337,471

,497,444

1,7071,6891,4191,465

393355383419425423

438437384400375362

313422335337380388

402445437424378393

927881872880939922

899948944993867972

1,0931,0141,0281,021957

1,083

1,095999

1,2701,2671,0411,072

Note.-See Note, Table B-22.


236


TABLE B-24.—Selected unemployment rates, 1948-67

[Percent]

Year or month

1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964.

1965.1966.1967.

1966:JanFebMar

May."."." ."""June

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

1967: Jan...Feb..Mar..Apr..May..June.

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

Allwork-

ers

3.85.9

5.33.33.02.95.5

4.44.14.36.85.5

5.56.75.55.75.2

4.53.83.8

By sex and age

Bothsexes,16-19years

9.213.4

12.28.28.57.6

12.6

11.011.111.615.914.6

14.716.814.717.216.2

14.812.712.9

Men,20

yearsandover

3.25.4

4.72.52.42.54.9

3.83.43.66.24.7

4.75.74.64.53.9

3.22.52.3

Wom-en, 20yearsandover

3.65.3

5.14.03.22.95.5

4.44.24.16.15.2

5.16.35.45.45.2

4.53.84.2

By color

White

5.0

3.93.63.86.14.8

4.96.04.95.04.6

4.13.33.4

Non-white

9.9

8.78.37.9

12.610.7

10.212.410.910.89.6

8.17.37.4

By selected groups

Expe-riencedwageand

salaryworkers

3.76.2

5.63.22.92.66.2

4.84.44.67.25.7

5.76.85.65.55.0

4.33.53.6

Mar-riedmen*

3.4

4.61.51.41.74.0

2.62.32.85.13.6

3.74.63.63.42.8

2.41.91.8

Full-time

work-ers 2

5.4

5.02.62.5

5.2

3.83.74.07.2

6.7

5.54.9

4.33.53.5

Blue-collarwork-ers3

4.28.0

7.23.93.63.47.2

5.85.16.2

10.27.6

7.89.27.47.36.3

5.34.24.4

Laborforce

time lost '

Seasonally adjusted

3.93.73.83.73.93.9

3.93.83.73.83.53.7

3.73.73.63.73.84.0

3.93.84.14.33.93.7

13.012.112.912.913.713.0

13.112.512.912.711.412.2

11.013.210.711.613.112.6

12.613.713.815.114.012.8

2.62.52.62.42.42.6

2.62.52.42.42.42.4

2.22.22.32.32.42.6

2.42.42.32.52.42.2

3.93.73.63.73.93.8

3.73.93.84.03.43.9

4.34.04.14.13.94.3

4.33.94.94.84.04.1

3.53.33.33.33.53.4

3.43.33.23.43.13.3

3.33.33.13.33.33.5

3.53.53.63.83.43.3

6.96.87.37.17.47.5

7.58.07.27.46.97.6

6.67.17.47.37.87.8

7.26.97.98.87.36.9

3.63.43.53.43.73.7

3.53.73.63.53.43.5

3.53.43.43.43.63.8

3.73.64.04.13.63.5

1.91.91.91.81.81.9

2.02.01.91.91.71.7

1.71.61.71.91.92.0

1.82.01.81.91.71.7

3.43.33.33.33.43.7

3.43.43.43.43.43.3

3.13.03.13.33.53.9

3.63.63.83.93.63.3

4.34.14.24.14.34.3

4.54.44.14.04.24.2

4.24.14.24.64.64.7

4.74.44.64.94.44.3

5.15.38.16.6

6.78.06.76.45.8

5.04.24.2

4.34.04.14.14.34.7

4.54.24.24.13.84.1

4.14.04.14.03.84.5

4.34.34.64.74.14.1

1 Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March.2 Data for 1949-61 are for May.3 Includes craftsmen, operatives, and nonfarm laborers. Data for 1948-57 are based on data for January, April, July,

and October.* Man-hours lost by the unemployed and persons on part time for economic reasons as a percent of potentially available

labor force man-hours.

Note.—See Note, Table B-22.


284-593(237


TABLE B-25.— Unemployment by duration, 1947-67

Year or month

194719481949

19501951 .1952..19531954 . . .

19551956195719581959

19601961196219631964

196519661967

1966:JanFebMarAprMayJune . . .


1967: JanFebMarAprMayJune .

JulyAugSept . . .Oct.NovDec

Total un-employ-

ment

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over26 weeks


2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,975

1,3001,756

1,4501,1771,1351,1421,605

1,3351,4121,4081,7531,585

1,7191,8061,6591,7511,697

1,6281,5351,634

6691,194

1,055574516482

1,116

815805891

1,3961,114

1,1761,3761,1341,2311,117

983804893

193428

425166148132495

366301321785469

503728534535491

404295271

116256

3571378478

317

336232239667571

454804585553482

351241177

Seasonally adjusted

2,9452,7852,8512,7992,8962,938

2,9242,9282,8442,8822,7152,871

2,8322,8882,7762 8302,9003,090

3 0162,9833,1783,3673,0232,901

1,4811,4501,4941,5361,6041,653

1,5921,5761,5231,4931,3971,562

1,5421,6781,6331 468l'3711,649

1,8051,6601,8891,8471,5861,471

764738796667854816

882891831900789760

787771827900877919

876946945

1,153918954

340327316333262263

228254291293287269

282249259251271298

265231278313310261

299267267257276223

218208202224197227

203190177185143146

170210159176177192

Note.—See Note, Table B-22.


238


TABLE B—26.— Unemployment insurance programs, selected data, 1940-67

Year or month

All programs

Cov-eredem-ploy-

ment1

Insuredunem-ploy-ment

(weeklyaver-

age) 23

Totalbenefits

paid(mil-lions

of dol-lars) 2 4

State programs

Insuredunem-ploy-

ment^

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 ofdol-

lars) *

Aver-age

weeklycheck(dol-lars) e

1940194119421943194419451946194719481949

19501951195219531954..19551956195719581959

196019611962196319641965..19661967*

1966: Jan. .Feb..M a r -Apr..M a y -June.

July..Aug__Sept..Oct...Nov-D e c .

1967: Jan. .Feb..M a r -Apr. .May..June.July..Aug..

Thousands Weekly average, thousands Percent

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

34,30836,33437,00638,07236,62240,01842,75143,43644,41145,728

46,33446,26647,77648,43449,63751,58054,739

51,95252,12952,88553,79654,32355,549

55,70556,03456,10955,91155,98456,482

*>54,678*54,659P55, 097P55,591*55,9858 57,017

Nov.

1,331842661149111720

2,8041,7931,4462,474

1,6051,0001,0691,0672,0511,3991,3231,5713,2692,099

2,0712,9941,946

71,9731,7531,4501,1291,268

1,7391,6791,3811,112916842

1,001980802799955

1,313

1,6311,6541,6031,4231,1971,071

1,2451,123

956953

1,0681,338

534.7358.8350.480.567.2

574.92,878.51,785.51,328.72,269.8

1,467.6862.9

1,043.51,050.62,291.81,560.21,540.61,913.04,290.62,854.3

3,022.84,358.13,145.13,025.92,749.22,360.41,890.92,236.9

226.6230.2240.0166.4136.0123.5

121.0152.0114.3100.4122.6166.4

235.8230.9270.1210.5193.1165.4

155.3184.0132.3133.0146.5180.0

1,282814649147105589

1,295997980

1,973

1,513969

1,044990

1,8701,2651,2151,4462,5261,684

1,9082,2901,783

M,8061,6051,3281,0611,206

1,6441,5901,3011,044862793

947928755753903

1,254

1,5581,5831,5331,3601,1421,019

1,1841,060894889997

1,259

2141641223629116189187200340

236208215218304226227270371281

331350302

7 297268232203227

329239171166152156

249173145166208299

300267239244188186

288187158180208278

5.63.02.2.5.4

2.14.33.13.06.2

4.62.82.92.85.23.53.23.66.44.4

4.85.64.44.33.83.02.32.5

3.73.62.92.31.91.8

2.12.01.61.61.92.7

3.33.43.32.92.42.1

2.42.21.81.82.02.6

2.62.62.32.22.22.2

2.42.42.22.12.22.4

2.32.52.62.72.72.6

2.82.62.42.42.22.2

518.7344.3344.179.662.4

445.91,094.9

775.1789.9

1,736.0

1,373.1840.4998.2962.2

2,026.91,350.31,380.71,733.93,512.72.279.0

2,726.73,422.72,675.42,774.72.522.12,166.01,771.32,101.8

212.7217.2225.5155.5126.1114.4

113.8143.1106.593.7

114.8157.6

224.8219.5257.5200.6183.6156.1147.3172.8122.6122.1134.9160.0

10.5611.0612.6613.8415.9018.7718.5017.8319.0320.48

20.7621.0922.7923.5824.9325.0427.0228.1730.5830.41

32.8733.8034.5635.2735.9237.1939.7541.20

39.3239.6639.8339.3738.8538.71

39.0540.6539.6839.8440.5741.39

41.7041.9742.0741.8140.9939.9940.1041.0840.1040.7041.1941.50

1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Railroad RetirementBoard) programs. Beginning October 1958, also includes the UCX program (unemployment compensation for ex-service-men).

2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), andSRA (Servicemen's Readjustment Act, September 1944-September 1951) programs. Also includes Federal and Stateprograms for temporary extension of benefits from June 1958 through June 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 beginning July 1963.s Preliminary; June 1967 is latest month for which data are available fnr all programs combined. Workers covered

by State programs account for about 87 percent of the total.Source: Department of Labor, Bureau of Employment Security.

239


TABLE B-27.—Wage and salary workers in nonagricultural establishments, 1929-67

[All employees; thousands of persons]

Year ormonth

1929

19301931193219331934

19351936193719381939...

19401941194219431944

194519461947 . .19481949

19501951.. .195219531954

1955195619571958 .1959 .

19601961 . .196219631964

196519661967*

Totalwageand

salarywork-

ers

31,339

29,42426,64923,62823 71125,953

27 05329,08231,02629,20930,618

32,37636,55440,12542,45241,883

40,39441,67443,88144,89143,778

45,22247,84948,82550,23249,022

50,67552,40852,89451,36353,313

54,23454,04255,59656,70258,332

60,83263,98266,066

Manufacturing

Total

10,702

9,5628,1706,9317,3978,501

9,0699,827

10,7949,440

10,278

10,98513,19215,28017,60217,328

15,52414,70315,54515,58214,441

15,24116,39316,63217,54916,314

16,88217,24317,17415,94516,675

16,79616,32616,85316,99517,274

18,06219,18619,336

Dura-ble

goods

4,715

5,3636,9688,823

11,08410,856

9,0747,7428,3858,3267,489

8,0949,0899,349

10,1109,129

9,5419,8349,8568,8309,373

9,4599,0709,4809,6169,816

10,40611,25611,325

Non-dura-ble

goods

5,564

5,6226,2256,4586,5186,472

6,4506,9627,1597,2566,953

7,1477,3047,2847,4387,185

7,3407,4097,3197,1167,303

7,3367,2567,3737,3807,458

7,6567,9308,012

Min-ing

1,087

1,009873731744883

897946

1,015891854

925957992925892

836862955994930

901929898866791

792822828751732

712672650635634

632625613

Con-tractcon-

struc-tion

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

2,8852,8162,9022,9633,050

3,1863,2923,265

Trans-porta-tionandpub-lic

utili-ties

3,916

3,6853,2542,8162,6722,750

2,7862,9733,1342,8632,936

3,0383,2743,4603,6473,829

3,9064,0614,1664,1894,001

4,0344,2264,2484,2904,084

4,1414,2444,2413,9764,011

4,0043,9033,9063,9033,951

4,0364,1514,262

Whole-saleand

retailtrade

6,123

5,7975,2844,6834 7555,281

5,4315,8096,2656,1796,426

6,7507,2107,1186,9827,058

7,3148,3768,9559,2729,264

9,3869,742

10,00410,24710,235

10,53510,85810,88610,75011,127

11,39111,33711,56611,77812,160

12,71613,21113,676

Fi-nance,insur-ance,andreal

estate

1,509

1,4751,4071,3411 2951,319

1,3351,3881,4321,4251,462

1,5021,5491,5381,5021,476

1,4971,6971,7541,8291,857

1,9191,9912,0692,1462,234

2,3352,4292,4772,5192,594

2,6692,7312,8002,8772,957

3,0233,1023,228

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

6,2746,5366,7496,8067,130

7,4237,6648,0288,3258,709

9,0879,545

10, 072

Government

Fed-eral

533

526560559565652

753826833829905

9961,3402,2132,9052,928

2,8082,2541,8921,8631,908

1,9282,3022,4202,3052,188

2,1872,2092,2172,1912,233

2,2702,2792,3402,3582,348

2,3782,5642,719

ateandlocal

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

6,0836,3156,5506,8687,249

7,7148,3078,897


240


TABLE B-27.—Wage and salary workers in nonagricultural establishments,1929-67—Continued

[All employees; thousands of persons]

Year ormonth

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

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

1966: Jan. . .Feb...Mar..A p r -May..June..

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

1967: Jan. . .Feb.. .Mar..Apr...May..June..

July..Aug...Sept..Oct__.Nov*.Dec*.

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-

blegoods

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

59,48459,77860,04860,18660,45360,692

60,92861,13261,31961,55361,93362,319

62,50362,88963,29663,42763,61664,069

64,18064,34564,39464,69465,01465,251

65,56465,69265,74965,65365,63965,903

65,93966,19066,05566,24366,92967,128

17,66117,72617,79717,86017,90218,004

18,10318,17218,22218,30518,44518,556

18,64618,83418,94019,03719,12119,268

19,24219,37119,33719,42219,49819,526

19,55819,50719,44519,33119,23819,285

19,16919,31819,14219,16919,41819,469

10,09610,14910,19410,25310,28810,360

10,44110,51210,54310,58810,68010,770

10,85910,98911,07111,14011,20611,293

11,29011,39511,40111,45711,48511,496

11,50711,48211,43411,32211,28311,285

11,21811,35111,14911,14311,35811,380

7,5657,5777,6037,6077,6147,644

7,6627,6607,6797,7177,7657,786

7,7877,8457,8697,8977,9157,975

7,9527,9767,9367,9658,0138,030

8,0518,0258,0118,0097,9558,000

7,9517,9677,9938,0268,0608,089

637637635634633632

632631623628631631

633630635592626628

629630625623621623

625624624620617619

623606601597597597

3,1313,1663,1803,1183,1593,175

3,1363,1753,1883,2073,2513,334

3,3083,3123,3893,3403,2503,305

3,3073,2733,2603,2393,2413,291

3,3113,3523,3133,2763,1923,187

3,2313,2233,2383,2363,2993,350

3,9383,9844,0154,0204,0254,033

4,0414,0524,0684,0764,0824,093

4,0874,1094,1184,1254,1464,157

4,1444,1264,1844,1904,2124,218

4,2424,2474,2464,2124,2674,266

4,2924,2834,2624,2514,2884,289

12,42912,48812,55012,59112,68512,723

12,76612,78012,82812,85712,90712,956

12,99613,03413,08113,10713,14813,199

13,23213,25913,27913,35413,40613,416

13,51513,54113,55713,57213,60913,648

13,64713,66413,71913,77613,90913,910

2,9882,9962,9993,0033,0103,015

3,0243,0313,0403,0483,0543,062

3,0633,0673,0803,0833,0883,103

3,1123,1143,1183,1203,1323,144

3,1523,1653,1793,1943,2053,227

3,2343,2533,2643,2703,2903,302

8,8898,9298,9679,0089,0429,063

9,1159,1369,1629,1869,2389,293

9,3199,3719,4219,4459,4719,522

9,5689,6119,6199,6759,7449,781

9,8409,8839,9469,9739,987

10,035

10,07410,13010,16110,19910,30110,335

2,3442,3382,3422,3442,3472,355

2,3742,3752,3782,3892,3972,410

2,4282,4512,4752,4982,5212,575

2,5952,5952,5972,6172,6162,653

2,6672,6732,6852,6882,6982,747

2,7592,7462,7152,7122,6982,692

7,4677,5147,5637,6087,6507,692

7,7377,7807,8107,8577,9287,984

8,0238,0818,1578,2008,2458,312

8,3518,3668,3758,4548,5448,599

8,6548,7008,7548,7878,8268,889

8,9108,9678,9539,0339,1299,184

Note.—Data in Tables B-27 through B-33 are based on reports from employing establishments and relate to full- andpart-time wage and salary workers in nonagricultural establishments who worked during, or received pay for, any part ofthe pay period which includes the 12th of the month.

Not comparable with labor force data (Tables B-22 through B-25), which include proprietors, self-employed persons,domestic servants, and unpaid family workers, and which count persons as employed when they are not at work becauseof industrial disputes, bad weather, etc.

For description and details of the various establishment data, see "Employment and Earnings and Monthly Report onthe Labor Force," February 1968.


241


TABLE B-28.—Average weekly hours of work in selected nonagricultural industries, 1929-67

Year or month

1929.1930.1931.1932.1933.1934.1935.1936.1937.1938.1939.

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

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

1960...1961 —1962...1963...1964...1965...1966.-1967 v.

1966: Jan....Feb—.Mar.—Apr—.M a y -June...July...Aug...Sept...Oct..-Nov...Dec...

1967: Jan....Feb....Mar....Apr....May....June...

July....Aug....Sept...Oct....Nov "..Decp_.

Totalnon-agri-

culturalpri-vate i

40.340.039.4

39.839.939.939.639.139.639.338.838.539.0

38.638.638.738.838.738.838.738.2

Manufacturing

Total

44.242.140.5

38.738.938.938.738.638.738.738.738.838.638.638.4

38.438.238.238.038.038.138.238.238.438.038.337.9

38.338.134.636.639.238.635.637.7

38.140.643.145.045.243.540.340.440.039.140.540.640 740.539.640.740.439.839.240.339.739.840.440.540.741.241.340.6

Durablegoods

32.534.733.837.240.939.934.937.9

39.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.7

40.140.340.941.141.442.042.141.2

Non-durablegoods

41.940.035.136.137.737.436.137.4

37.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.140.239.7

Con-tractcon-

struc-tion

38.238.137.737.438.138.937.937.237.137.537.036.837.0

36.736.937.037.337.237.437.637.6

Retailtrade

43.4

43.242.841.840.941.040.941.3

3 40.340.240.440.440.439.839.139.239.038.638.138.138.238.037.637.437.337.036.635.935.3

Whole-sale

trade

41.642.943.142.341.8

41.341.141.442.343.042.841.641.141.040.840.740.840.740.640.540.740.540.340.240.6

40.540.540.640.640.640.840.840.4

Seasonally adjusted

41.441.641.541.541.441.341.241.441.441.341.341.041.040.340.440.540.340.340.440.740.840.740.740.8

42.342.442.342.442.242.141.942.242.342.142.141.741.741.041.141.041.040.941.041.341.641.341.241.3

40.140.540.340.440.340.340.240.240.140.140.239.940.039.539.539.839.539.539.639.739.939.740.140.0

37.638.138.437.536.337.537.837.237.737.537.438.138.237.637.437.436.437.437.537.538.337.139.437.3

36.236.236.036.035.936.036.036.135.935.735.635.635.535.335.335.135.235.435.435.535.435.135.235.0

40.940.940.840.740.740.840.940.840.740.740.640.640.740.540.540.440.340.5

40.540.540.340.340.340.1

Bitumi-nouscoal

mining

38.133.328.127.029.326.826.228.527.723.326.8

27.830.732.436.343.042.041.340.337.732.334.734.933.834.132.337.337.536.333.335.8

35.835.9

4 37.04 38.94 39.24 40.24 40.64 40.9

Class Irail-

roads

43.7

44.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.641.9

41.742.342.642.943.543.643.9

Tele-phonecom-muni-cation

38.838.939.1

39.540.140.541.942.3

2 41.739.437.439.238.538.939.138.538.738.939.639.539.038.439.239.639.439.940.040.240.440.639.2

Unadjusted

41.040.941.533.041.742.2

41.241.242.539.542.141.140.039.740.140.541.7

41.140.640.341.7

42.744.744.343.144.144.843.444.744.042.944.243.743.144.143.741.944.143.941.4

39.940.640.340.140.340.741.240.740.940.841.539.939.539.838.839.138.939.4

39.639.039.739.739.3

* In addition to industries shown separately, total includes other mining; other transportation and public utilities;finance, insurance, and real estate; and services.

2 Nine-month average, April through December, because of new series started in April 1945.3 Beginning 1947, data include eating and drinking places. Comparable figure excluding eating and drinking places is

41.0 hours for 1947.4 Eleven-month average; excludes data for July.Note.—Hours and earnings data in Tables B-28 through B-33 relate to production workers in manufacturing and mining,

to construction workers in contract construction, and generally, to nonsupervisory employees in other industries. See TableB-31 for unadjusted weekly hours in manufacturing. See also Note, Table B-27.


242


TABLE B-29.—Average gross hourly earnings in selected industries, 1929-67

Year or month

Totalnon-

agricul-tural

private

Manufacturing

Total Durablegoods

Non-durablegoods

Con-tractcon-

struc-tion

Retailtrade

Whole-sale

trade

Bitu-minouscoal

mining

Class Irail-

roads

Tele-phonecom-

munica-tion

Agri-cul-

ture 2

19291930193119321933193419351936193719381939

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..1966-1967*

1966: Jan . . .Feb.. .Mar . .Apr—May. .June..

July..Aug. .

$1,1311.2251.275

1.3351.451.521.611.651.711.801.891.952.02

2.092.142.222.282.362.452.552.67

Nov. .Dec . . .

1967: Jan. . .Feb.. .M a r -Apr. . .M a y -June..

July..Aug._Sept..Oct._-Nov v.Dec p.

$0.560.546.509.441.437.526.544.550.617.620.627

.655

.726

.851

.9571.0111.0161.0751.2171.3281.378

1.4401.561.651.741.781.861.952.052.112.19

2.262.322.392.462.532.612.722.83

2.502.502.512.532.542.55

2.562.552.602.602.602.59

2.612.622.622.632.642.66

2.682.682.712.712.722.71

2.672.682.682.702.712.71

2.712.702.752.752.762.77

2.782.792.792.802.812.82

2.822.822.852.852.872.90

$0,492.467.550.571.580.667.679.691

.716

.799

.9371.0481.1051.0991.1441.2781.3951.453

1.5191.651.751.861.901.992.082.192.262.36

2.432.492.562.632.712.792.903.00

2.852.862.872.882.882.89

2.882.882.932.942.942.96

2.962.962.962.972.992.99

3.003.003.033.033.053.08

$0,412.419.505.520.519.566.572.571

.590

.627

.709

.787

.844

.886

.9951.1451.2501.295

1.3471.441.511.581.621.671.771.851.911.98

2.052.112.172.222.292,362.452.57

2.402.412.412.432.442.45

2.462.452.472.482.492.50

2.512.532.542.552.552.56

2.572.572.612.612.622.64

$0,659.662.626503

$1. 5411.7131.792

1.8632.022.132.282.392.452.572.712.822.93

3.083.203.313.413.553.703.884.09

3.793.833.803.823.843.83

3.853.893.973.963.963.99

4.024.003.993.994.024.02

4.084.104.184.214.204.22

$0,484

.494

.518

.559

.606

.653

.699

.7974.838.901.951

.9831.061.091.161.201.251.301.371.421.47

1.521.561.631.681.751.821.912.01

1.881.881.881.891.901.91

1.911.901.931.941.951.94

1.971.981.982.002.002.01

2.012.012.032.052.052.03

$0,610.628.658.674.688

.711

.763

.828

.898

.948

.9901.1071.2201.3081.360

1.4271.521.611.701.761.831.942.022.092.18

2.242.312.372.452.522.612.732.88

2.672.682.692.722.732.73

2.732.732.762.772.792.80

2.812.832.842.862.872.88

2.892.882.932.932.942.95

.485

.651

.720

.768

.828

.849

.858

.854

.9601.0301.1011.1471,1991.3571.5821.8351.877

1.9442.142.222.402.402.472.722.922.933.11

3.143.12

6 3.12«3.155 3. 305 3.498 3.655 3.75

3.533.543.523.433.723.71

3.703.743.763.753.76

3.793.713.723.763.733.75

3.743.763.753.74

$0,730

.733

.743

.837

.852

.948

.9551.0871.1861.3011.427

1.5721.731.831.881.931.962.122.262.442.54

2.612.672.722.762.803.003.09

3.093.133.053.083.083.07

3.093.053.093.103.123.14

3.193.263.173.233.193.21

3.25

$0.774.816.822

.827

.820

.843

.870

.9113.9621.1241.1971.2481.345

1.3981.491.591.681.761.821.861.952.052.18

2.262.372.482.562.622.702.792.88

2.762.782.772.772.772.78

2.772.762.792.802.822.89

2.862.882.872.872.882.89

2.882.872.902.902.89

$0.241.226.172129

.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

.9511.031.12

1.06

.945

1.01

T67~

1.14

'.998

1.10

1 For coverage, see footnote 1, Table B-28.2 Weighted average of all farm wage rates on a per hour basis.3 Nine-month average, April through December, because of new series started in April 1945.4 Beginning 1947, data include eating and drinking places. Comparable figure excluding eating and drinking places is

$0,901 for 1947.8 Eleven-month average; excludes data for July.Note.-See Note, Tables B-27 and B-28.Sources: Department of Labor (Bureau of Labor Statistics) and Department of Agriculture.

243


TABLE B—30.—Average gross weekly earnings in selected nonagricultural industries, 1929-67

Year or month

1929..

1930..1931..19321933..1934..1935..1936..1937..1938..1939..

1940..1941..19421943..1944..1945..1946..1947..1948..1949..

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

1960.1961.1962.1963..1964..1965.1966..1967 %

1966: Jan . .Feb..M a r -Apr..May..June..

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

1967: Jan . .Feb..M a r -Apr. .May..June_

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

Totalnon-

agricul-turalpri-

vate i

$45.5849.0050.24

53.1357.8660.6563.7664.5267.7270.7473.3375.0878.78

80.6782.6085.9188.4691.3395.0698.69

101.99

96.2596.5097.1497.4198.0499.20

99.8499.71100.88100.6299.8499.97

99.7099.3099.5699.41

100.06101.88

103.18103.45104. 06103.25103.63103.25

Manufacturing

Total

$24.76

23.0020.6416.8916.6518.2019.9121.5623.8222.0723.64

24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88

58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26

89.7292.3496.5699.63102.97107.53112.34114.90

110.00110.95110.95111.24112.47112.74

111.38111.78114.13113.85113.99114.40

113.42111.88112.44112.56113.52114.49

113.65114.77116.57116.28116.81119.19

Dura-ble

goods

$26.84

24.4220.9815.9916.2018.5921.2423.7226.6123.7026.19

28.0733.5642.1748.7351.3848.3646.2251.7656.3657.25

62.4368.4872.6376.6376.1982.1985.2888.2689.2796.05

97.44100.35104.70108.09112.19117.18122. 09123.60

119.99120.69121.11121. 54121.82122.54

119.81120.96123.94124.07123.77124.62

122.84120.77121.36121.18122.89123.19

122.40123.30126.05125.44125.66128.44

Non-durablegoods

$22.47

21.4020.0917.2616.7617.7318.7719.5721.1720.6521.36

21.8324.3928.5733.4536.3837.4840.3046.0349.5050.38

53.4856.8859.9562.5763.1866.6370.0972.5274.1178.61

80.3682.9285.9387.9190.9194.6498.49

102.03

95.5296.8896.8896.9698.3399.23

99.1499.2399.5499.94100.10100.25

99.6599.18100.08100.22100.73101.63

102. 03102.80104.66104.14105.06106.13

Con-tractcon-

struc-tion

$58.8765.2767.56

69.6876.9682.8686.4188.9190.9096.38100.27103.78108.41

113.04118.08122.47127.19132.06138.38145.89153.78

138.34139.41143.26141.34142.46146.69

150.15149.77152.05152.46144.14148.83

149.14143.60146.83147.23149.54153. 56

157.90159.08162.60160.40160.86154.03

Retailtrade

$21.01

21.3422.1723.3724.7926.7728.5932.92

3 33.7736.2238.42

39.7142.8243.3845.3647.0448.7550.1852.2054.1056.15

57.7658.6660.9662.6664.7566.6168.5770.95

67.3067.3067.1267.4767.6469.14

70.4870.1169.0968.8768.6469.65

69.1569.1069.3069.8069.8071.56

72.9672.9671.6671.5571.3471.66

Whole-sale

trade

$26.7525.1925.4425.3826.9628.3628.5128.76

29.3631.3634.2837.9940.7642.3746.0550.1453.6355.49

58.0862.0265.5369.0271.2874.4878.5781.4184.0288.51

90.7293.5696.2299.47

102.31106.49111.38116.35

108.94109.08109.48110.43111.11111.38

112.20111.38112.33112.74113.27114.52

114.09114.05114.74115.26115.66116.64

117.62116.64118.08118.08118.48119.18

Bitumi-nouscoal

mining

$25.11

22.0417.5913.5814.2117.4518.8621.8922.9419.7822.99

23.7429.4733.3739.9749.3250.3656.0463.7569.1860.63

67.4674.6975.0481.8477.5292.13102.00106.0097.57111.34

112.41112.01114.46121.43128.91140.26148.44153.72

144.73144.79146.08113.19155.12156.56

148.03152.44154.09159.80148.13158.30

155.77148.40147.68150.78151.07156.38

157.00153.71152.66151.13155.96

Class Irail-

roads

$31.90

32.4734.0339.3441.4946.3646.3250.0055.0360.1162.36

64.1470.9374.3076.3378.7482.1288.4094.24101. 50106.43

108.84112.94115.87118.40121.80130.80135.65

131.94139.91135.12132.75135.83137.54

134.11136.34135.96132.99137.90137.22

137.49143.77138. 53135.34140.68140.92

134.55

Tele-phonecom-mu-nica-tion

$30.0331.7432.14

32.6732.8834.1436.4538.54

2 40.1244.2944.7748.9251.78

54.3858.2661.2265.0268.4672.0773.4776.0578.7285.46

89.5093.3898.95

102.40105.32109.08113.27112.90

110.12112.87111.63111.08111.63113.15

114.12112.33114.11114.24117.03115.31

112.97114.62111.36112.22112.03113.87

114.05111.93115.13115.13113.58

1 For coverage, see footnote 1, Table B-28.2 Nine-month average, April through December, because of new series started in April 1945.3 Beginning 1947, data include eating and drinking places. Comparable figure excluding eating and drinking places is

$36.94 for 1947.

Note.—See Note, Tables B-27 and B-28.


244


T A B L E B—31.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939—67

Year or month

All manufacturing industries

Averageweeklyhours

Gross

Ex-clud-

ingover-time

Average hourlyearnings

Gross

Ex-cjud-

ingover-time

Exclud-ing

over-timeand

inter-indus-

try shift(1957-

59=100)

Durable goods manufac-turing industries

Averageweeklyhours

Gross

Ex-clud-

ingover-time

Averagehourly

earnings

Gross

Ex-clud-

ingover-time

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

Ex-clud-

ingover-time

Averagehourly

earnings

Gross

Ex-clud-

ingover-time

1939. 37.7 $0,627 32.2 37.9 $0,691 37.4 $0.571

19.40194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960.. .1961 . . .1962. . .1963. . .1964. . .1965. . .1966—1967 v.

1966: Jan. .Feb..Mar..Apr..May_.June.

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

1967: Jan. .Feb..Mar..Apr_.May_.June.

38.140.643.1

.655 39.242.045.046.546.544.040.440.540.439.4

41.141.541.541.240.141.341.040.339.540.7

40.140.340.941.141.442.042.141.2

42.142.242.242.242.342.4

41.642.042.342.242.142.1

41.540.841.040.841.141.2

40.841.141.641.441.241.7

.716 37.038.940.342.543.142.340.540.239.638.9

39.739.539.739.639.039.939.639.238.839.7

39.239.339.639.639.740.140.239.7

39.840.240.239.940.340.5

40.340.540.340.340.240.1

39.739.239.439.339.539.7

39.740.040.139.940.140.2

.590

July...Aug.. . .Sept. . .Oct . . . .Nov v..Dec p. .

45.045.243.540.340.440.039.1

40.540.640.740.539.640.740.439.839.240.3

39.739.840.440.540.741.241.340.6

41.241.441.441.241.541.6

41.141.441.541.441.341.3

40.840.140.340.240.440.6

40.340.740.940.840.741.1

37.637.537.237.6

37.337.437.637.737.637.637.437.2

. 726 $0.

.851

.9571.0111.0161.0751.2171.3281.378

1.4401.561.651.741.781.861.952.052.112.19

2.262.322.392.462.532.612.722.83

37.5 2.6737.6 2.6837.5 2.6837.337.537.6

37.237.437.337.337.437.6

37.436.937.137.137.237.3

37.137.337.237.337.337.5

2.702.712.71

2.712.702.752.752.762.77

2.782.792.792.802.812.82

2.822.822.852.852.872.90

). 691.793.881.933

2.9491.0351.181.291.34

1.391.511.591.681.731.791.891.992.052.12

2.202.252.312.372.442.512.592.72

2.562.562.562.582.582.58

2.592.582.612.622.642.65

2.672.682.692.702.702.71

2.712.712.732.742.762.78

133.4137.5U0.8143.7145.5150.4

57.863.266.1

68.273.677.481.684.386.991.596.2

100.2103.5

106.6109.6112.3115.2118.0121.1125.1130.9

123.3123.5123.8124.3124.5124.8

124.9124.9126.0126.5127.0127.6

128.4129.0129.4129.9130.2130.5

130.8131.1131.9132.3133.1133.6

. 799 $0.

.937

.048

.105

.144

.278

.395

.453

L762.872.966

1.019. 099 21.031

1.1111.241.351.42

627 $0,613

38.037.9

1.5191.651.751.861.901.992.082.19

37.6 2.2638.0 2.36

37.738.038.138.238.138.137.837.7

38.038.037.937.937.938.0

37.537.737.737.737.838.0

37.837.437.637.637.837.8

37.537.737.737.737.738.0

2.432.492.562.632.712.792.903.00

2.852.862.872.882.882.89

2.882.882.932.942.942.96

2.962.962.962.972.992.99

3.003.003.033.033.053.08

1.461.591.681.791.841.912.012.122.212.28

2.362.422.482.542.602.672.762.88

2.722.722.732.742.742.75

2.752.742.782.792.802.82

2.842.842.852.862.872.88

2.882.882.892.902.932.95

37.237.036.637.0

36.736.836.936.936.836.936.836.5

36.736.936.936.636.937.0

.709

.787

.844

.886

.9951.1451.2501.295

1.3471.441.511.581.621.671.771.851.911.98

2.052.112.172.222.292.362.452.57

2.402.412.412.432.442.45

36.8 2.4637.0 2.4536.6 2.4736.736.836.8

36.736.336.436.436.536.6

36.636.736.536.536.836.8

2.482.492.50

2.512.532.542.552.552.56

2.572.572.612.612.622.64

.684

.748

.7982.841.962.11.21.26

31404653586272

.92

1.992.052.092.152.212.272.352.47

2.312.312.322.332.342.34

2.352.342.372.372.392.40

2.422.442.452.462.462.46

2.472.472.502.502.522.53

1 Annual average not available; April used.2 Eleven-month average; August 1945 excluded because of VJ Day holiday period.Note.—See Note, Tables B-27 and B-28.See Table B-28 for seasonally adjusted average gross weekly hours.Source: Department of Labor, Bureau of Labor Statistics.

245


TABLE B-32.—Average weekly earnings, gross and spendable, total private nonagriculturalindustries, in current and 1957-59 prices, 1947-67

Year or month

1947..19481949

1950195119521953195419551956195719581959

19601961196219631964196519661967 v

1966: Jan.. .Feb...Mar . .A p r -May..June..

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

1967: Jan. . .Feb...Mar . .Apr...May..June-July..Aug. .Sept..Oct...Nov*.Dec p.

Average gross weeklyearnings

Currentprices

$45.5849.0050.24

53.1357.8660.6563.7664.5267.7270.7473.3375.0878.78

80.6782.6085.9188.4691.3395.0698.69

101.99

96.2596.5097.1497.4198.0499.20

99.8499.71

100.88100.6299.8499.97

99.7099.3099.5699.41

100.06101.88

103.18103.45104.06103.25103.63103.25

1957-59prices2

$58.5958.4760.53

63.4063.9365.5768.4168.9372.5874.7074.8374.5677.62

78.2479.2781.5582.9184.4986.5087.2687.70

86.7186.4786.7386.5987.0787.87

88.1287.6288.4187.8887.1287.16

86.9286.5086.5786.2286.5687.83

88.5788.4988.8688.8787.9787.35

Average spendable weekly earnings1

Workers with nodependents

Currentprices

$39.1643.1144.15

46.0248.6850.0752.4553.7656.2758.6360.4761.8364.52

65.5967.0869.5671.0575.0478.9981.1983.50

79.2979.4979.9980.2080.7081.58

82.0781.9782.8682.6682.0782.17

81.7681.4681.6681.5482.0483.42

84.4084.6185.0784.4584.7484.45

1957-59prices -

$50.3351.4453.19

54.9253.7954.1356.2857.4460.3161.9161.7061.4063.57

63.6264.3866.0066.5969.4271.8771.7971.80

71.4371.2371.4271.2971.6772.26

72.4472.0372.6272.1971.6171.64

71.2870.9671.0170.7270.9771.91

72.4572.3872.6571.8771.9471.45

Workers with threedependents

Currentprices

$44.6448.5149.74

52.0455.7957.8760.3160.8563.4165.8267.7169.1171.86

72.9674.4876.9978.5682.5786.3088.5590.98

86.6186.8187.3287.5388.0488.96

89.4789.3790.3090.0989.4789.58

89.1688.8489.0588.9389.4590.90

91.9392.1592.6391.9992.2991.99

1957-59prices2

$57.3857.8959.93

62.1061.6562.5664.7165.0167.9669.5069.0968.6370.80

70.7771.4873.0573.6376.3878.5378.2978.23

78.0377.7977.9677.8078.1978.80

78.9778.5379.1478.6878.0778.10

77.7377.3977.4377.1377.3878.36

78.9178.8379.1078.2978.3477.83

* Average gross weekly earnings less social security and income taxes.2 Earnings in current prices divided by the consumer price index.Note.—"Total private" consists of manufacturing; contract construction; retail and wholesale trade; mining; transporta-

tion and public utilities; finance, insurance, and real estate; and services.See also Note, Tables B-27 and B-28.Source: Department of Labor, Bureau of Labor Statistics.

246


TABLE B—33.—Average weekly earnings, gross and spendable, in manufacturing- industries, incurrent and 1957-59 prices, 1939-67

Year or month

1939

1940 . .194119421943194419451946194719481949

195019511952195319541955 . -1956195719581959

I9601961196219631964196519661967 *

1966- JanFebMarAprMayJune

JulyAug .-SeDtOctNovDec

1967: Jan . .FebMar.AprM a y . . . . . . .June

JulyAugSeptOctNov*-.Dec»

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

102.97107.53112.34114.90

110.00110.95110.95111.24112.47112.74

111.38111.78114.13113.85113.99114.40

113.42111.88112.44112.56113.52114.49

113.65114.77116.57116.28116.81119.19

1957-59prices2

$48.84

51.1557.4764.5871.4374.5570.4963.7163.2063.3964.92

69.5969.9972.6175.6175.3181.1483.1983.2682.1486.96

87.0288.6291.6193.3795.2597.8499.3398.80

99.1099.4299.0698.8899.8899.86

98.3198.22

100.0399.4399.4799.74

98.8897.4697.7797.6298.2098.70

97.5598.1899.5598.9699.16

100.84

Average spendable weekly earnings *

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

72.5774.6077.8679.8284.4089.0891.5793.28

89.7990.5190.5190.7391.6791.87

90.8491.1492.9392.7292.8293.13

92.1691 0091.4291.5192.2492.97

92.3493.1994.5594.3394.7396.54

1957-59prices2

$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 8774.8178.0881.0680.9680.21

80.8981 1080.8180.6581.4181.37

80.1880.0981.4580.9880.9981.19

80.3579 2779.5079 3779.7980.15

79 2679.7280.7480.2880.4281.68

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

80.1182.1885.5387.5892.1896.7899.45

101.26

97.5898 3498.3498.5799.5599.77

98.6899.00

100.88100.65100.76101.09

100.0898 8699.3099 40

100.16100.93

100 27101.16102.61102. 37102.80104.71

1957-59prices2

$48.35

50.6456.9063.9368.5471 3967.9362.9361.1662.4263.80

67.2666.5068.0970.3970 1474.8076.2975.8374.7178.23

77.7078.8781.1582.0885.2788.0687.9387.07

87.9188 1287.8087.6288.4188.37

87.1086.9988.4187.9087.9288.13

87.2586 1186.3586 2186.6487.01

86.0786.5487.6387.1287.2788.59

„ gross weekly earnings less social security and income taxes.2 Earnings in current prices divided by the consumer price index.Note.—See Note, Tables B-27 and B-28.Source: Department of Labor, Bureau of Labor Statistics.

247


TABLE B-34.—Indexes of output per man-hour and related data, private economy, 1947-67

[1957-59=1001

Year

Output per man-hour

Totalpri-vate

Farm

Nonfarm industries

TotalMan-ufac-tur-ing

Non-man-ufac-tur-ing

Output i

Totalpri-vate

Farm

Nonfarm industries


Non-man-ufac-tur-ing

Man-hours2

Totalpri-vate

Farm

Nonfarm industries


Non-ma n-ufac-tur-ing

Establishment basis 3

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

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

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

1960...1961...1962...1963...1964...

1965...1966...1967*.

69.072.074.2

80.382.784.387.889.9

93.994.196.999.8

103.4

105.0108.6113.8117.9122.5

126.3130.2132.0

49.858.056.5

64.464.770.379.683.7

84.488.093.3

103.0104.8

110.7119.4122.2133.1135.5

147.5154.6171.2

74.176.579.5

84.486.387.089.691.6

95.795.297.299.7

103.1

104.4107.4112.3115.7120.0

123.3126.4127.6

72.376.479.3

85.086.987.390.291.8

97.296.298.298.1

103.7

105.5107.9114.3118.9124.7

129.5132.3133.5

75.176.379.6

84.185.686.788.891.5

94.794.396.7

100.6102.9

103.9107.4111.5114.3118.0

120.0123.2124.5

67.670.870.6

77.982.884.889.187.9

95.497.298.697.3

104.1

106.6108.6116.0120.8127.8

135.9143.5146.5

82.191.888.9

93.788.991.896.698.6

101.0100.598.1

100.5101.9

105.8107.2106.8110.1107.7

114.0108.2116.4

66.869.869.7

77.082.584.588.887.4

95.197.198.697.2

104.2

106.7108.7116.5121.4128.8

137.1145.4148.2

69.372.768.7

79.787.889.797.190.3

100.9101.3101.793.4

104.9

106.4106.0116.8122.7131.2

143.6155.9156.5

65.668.370.2

75.779.881.984.586.0

92.294.997.199.1

103.9

106.8110.1116.3120.8127.7

133.8140.1144.0

98.098.495.1

97.0100.1100.6101.597.8

101.6103.3101.897.5

100.7

101.5100.0101.9102.5104.3

107.6110.2111.0

164.8158.4157.3

145.6137.5130.6121.4117.8

119.6114.2105.197.697.2

95.689.887.482.779.5

77.370.068.0

90.191.387.7

91.295.697.199.195.4

99.4102.0101.497.5

101.1

102.2101.2103.7104.9107.3

111.2115.0116.1

95.895.186.6

93.8101.0102.7107.798.4

103.8105.3103.695.2

101.2

100.998.2

102.2103.2105.2

110.9117.8117.2

87.489.588.2

90.093.294.595.294.0

97.4100.6100.498.5

101.0

102.8102.5104.3105.7108.2

111.4113.7115.7

Labor force basis4

1947..1948..1949..

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

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

I960..1961—1962..1963..1964..

1965..1966..1967*

67.970.271.9

78.582.184.5

1.490.8

94.794.697.299.4

103.4

104.5107.3113.0116.7121.0

124.8129.3131.5

49.858.056.1

64.164.369.979.183.3

84.087.593.3

103.1104.7

110.7119.9122.3133.5135.8

147.7154.4170.4

72.974.576.8

82.485.787.590.492.8

96.795.997.799.2

103.1

103.8105.9111.4114.4118.4

121.5125.2127.0

67.670.870.6

77.982.884.889.187.9

95.497.298.697.3

104.1

106.6108.6116.0120.8127.8

82.191.888.9

93.7

91.896.698.6

101.0100.598.1

100.5101.9

105.8107.2106.8110.1107.7

135.9 114.0143.5 108.2146.5 116.4

66.869.869.7

77.082.584.588.887.4

95.197.198.697.2

104.2

106.7108.7116.5121.4128.8

137.1145.4148.2

99.6100.898.2

99.2100.9100.4100.896.8

100.7102.7101.497.9

100.7

102.0101.2102.7103.5105.6

108.9111.0111.4

164.8158.2158.6

146.2138.3131.3122.1118.3

120.3114.9105.297.597.3

95.689.487.382.579.3

77.270.168.3

91.693.790.8

93.496.396.698.294.2

98.3101.2100.998.0

101.1

102.8102.6104.6106.1108.8

112.8116.1116.7

* Output refers to gross national product in 1958 prices.2 Hours worked by all persons in private industry engaged in production, including man-hours of proprietors and unpaid

family workers.3 Man-hours estimates based primarily on establishment data.4 Man-hours estimates based primarily on labor force data.

Note.—For information on sources, methodology, trends, and underlying factors influencing the measures, see Bureauof Labor Statistics, Department of Labor, Bulletin No. 1249 "Trends in Output per Man-Hour in the Private Economy,1909-58" December 1959.


248


PRODUCTION AND BUSINESS ACTIVITYT A B L E B—35.—Industrial production indexes, major industry divisions, 1929—67

[1957-59=100]

Year or month

1929

193019311932193319341935.1936 .193719381939

1940.194119421943194419451946...194719481949

19501951195219531954... . .19551956195719581959

19601961 . . .1962196319641965... .19661967*.

1966: Jan.FebMarAprMay._June

JulyAugSeptOct.NovDec


JulyAugSeptOctNovDec p

Total indus-trial

production

38.4

32.026.520.724.426.630.736.339.731.438.3

43.956.469.382.981.770.559.565.768.464.7

74.981.384.391.385.896.699.9

100.793.7

105.6

108.7109.7118.3124.3132.3143.4156 3157.8

Total

38.6

31.725.919.923.726.030.636.439.730.537.9

43.858.373.188.786.373.060.066.468.965.1

75.881.985.292 786.397.3

100.2100.893.2

106.0

108 9109.6118.7124.9133.1145.0158 6159.5

Manufacturing

Durable

38.2

28.419.511.915.518.824.131.235.222.631.4

40.057.779.9

102.9100.978.254.764.367.060.9

74.183.588.599 988.4

101.9104.0104.090.3

105.6

108 5107.0117.9124.5133.5148.4164 8163.8

Nondurable

38.3

34.832.828.932.833.837.441.644.139.144.9

47.357.663.770.768.265.664.867.269.568.3

76.078.580.083.683.691.695.496.796.8

106.5

109.5112.9119.8125.3132.6140.8150.8154.2

Mining

54.2

47.040.333,638.540.343.750.356.749.053.8

60.164.867.069.074.273.072.279.984.074.5

83.291.390.592.990.299.2

104.8104.695.699.7

101.6102.6105.0107.9111.5114.8120.5123.4

Utilities

12.7

13.112.511.711.512.213.214.916.416.518.3

20.322.825.628.330.130.631.836.540.843.4

49.556.461.266.871.880.287.993.998.1

108.0

115.6122.3131.4140.0151.3160.9173.9183.9

Seasonally adjusted

150.7152.4153.8153 9155.4156.5

157.2157.8158.1159.4159 1159.5

158.2156.6156.4156.5155 6155.6

156 6158.1156.8156.6159.3161.6

152.9154.7156.0156 5157.8158.7

159.4160.0160 4161.8161 5161.7

160 1158.5158.2158.2157 2157.0

157 6159.4158.1158.1160.9163.6

157.8160.2161.6162 5164.0164.9

165.8166.4167.2168.9167 7167.7

165.5162.9162.6162.5162.2161.5

162 5163.6161.1160.8164.4168.3

146.8147.8148.9148.9149.9151.0

151.5152.0151.9152.8153.6154.1

153.4152.9152.6152.8151.1151.4

151.5154.0154.2154.7156.5157.7

118.1118.2120.4115.4120.0121.6

122.1121.9121.1121.9121.6123.8

123.2122.4121.5122.0120.2123.8

128.0127.8124.3121.2123.7123.7

165.9168.5169.6171.2171.8173.3

175.0176.3178.0178.9178.5179.4

180.6180.5181.9182.7182.7183.2

184.1184.8184.8187.6188. C188. C

Source: Board of Governors of the Federal Reserve System.

249


TABLE B-36.—Industrial production indexes, market groupings, 1947-67

[1957-59=1001

Year or month

1947..1948..1949..

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

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

1960..1961..1962..1963..1964..

1965..1966..1967 P.

1966 Jan...Feb...Mar_.Apr__.May_.June-July..Aug..

s

Nov..Dec.

1967: Jan..Feb..Mar-Apr_.May..June.

July—Aug..Sept..Oct..Nov..Dec p

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

143.4156.3157.8

Final products

Total

64.266.664.5

72.878.684.389.985.7

93.998.199.494.8

105.7

109.9111.2119.7124.9131.8

142.5155.5158.2

Consumer goods l

Total

67.169.268.8

78.677.879.585.084.3

93.395.597.096.4

106.6

111.0112.6119.7125.2131.7

140.3147.5148.2

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

167.2163.0149.3

Homegoods

68.871.766.3

91.478.778.890.286.0

97.3100.996.692.8

110.7

110.8112.2122.2129.6141.1

154.8168.9166.1

Equipment

Total,includ-

ingdefense

55.458.352.0

56.478.494.1

100.588.9

95.0103.7104.691.3

104.1

107.6108.3119.6124.2132.0

147.0172.6179.5

Busi-ness

69.972.663.5

68.083.194.196.685.1

91.9104.7105.389.8

104.9

110.2110.1122.1128.3139.1

156.7181.2182.7

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

144.2157.0157.5

Dura-ble

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

144.3156.9151.9

Non-durablegoods

64.968.264.2

73.378.879.084.183.3

93.097,798.995.4

105.7

108.7112.2120.0126.3134.4

144.1157.2163.2

Seasonally adjusted

150.7152.4153.8153.9155.4156.5

157.2157.8158.1159.4159.1159.5

158.2156.6156.4156.5155.6155.6

156.6158.1156.8156.6159.3161.6

150.0151.8152.7153.2154.0155.3

155.3156.0156.6158.7159.0159.6

158.1157.0157.1157.3156.3156.8

157.1158.2157.0156.5159.6161.4

144.6145.9146.5146.8146.7147.3

146.4146.5146.9149.3149.2149.8

148.0146.1146.6147.1146.0146.9

147.1148.6147.0147.4149.7152.2

168.1167.9170.0168.2160.7162.1

153.3145.8150.7168.5162.8162.6

147.0135.7144.6151.3145.8151.2

155.2161.1142.1145.2152.8171

166.8165.7164.1168.9169.6168.0

168.0168.7168.1170.0169.4168.1

168.0164.1162.7158.9158.5156.6

157.3163.4164.1166.3171.2

161.5164.5166.2166.9169.8172.6

174.3176.3177.4179.0180.0180.7

179.9180.3179.6179.2178.5178.1

178.4178.9178.6176.0180.9181.2

170.5173.7175.4175.9178.3181.4

182.7184.4185.7187.2187.8188.9

186.9186.6184.4183.5182.1181.3

180.8180.6179.8176.5182.7183

150.8152.5154.4154.4157.0158.1

158.9159.2159.6159.7159.0159.2

157.9155.8155.5156.0154.6154.9

156.1157.9156.7156.6159.3161.6

149.9152.5154.9156.4157.9158.1

158.8159.2159.1159.1157.8156.8

154.2151.3151.5151.0149.7148.9

149.7151.8148.5148.9152.2156

151.6152.5153.9152.2156.2158.2

159.0159.3160.1160.3160.2161.6

161.6160.4159.7161.1159.6161.1

162.6164.2165.2165.2166.5168

1 Also includes apparel and consumer staples, not shown separately.


250


T A B L E B—37.—Industrial production indexes, selected manufactures, 1947—67

[1957-59=100]

Year ormonth

Durable manufactures

Pri-mary

metals

Fabri-catedmetalprod-ucts

Ma-chinery

Trans-porta-tion

equip-ment

Instru-ments

and re-latedprod-ucts

Clay,glassand

lumber

Furni-tureand

miscel-laneous

Nondurable manufactures

Textile,apparel,

andleatherprod-ucts

Paperand

printing

Chem-ical,

petro-leum,and

rubberprod-ucts

Foods,bever-ages,and

tobacco

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519661967*

1966: Jan. . .Feb. . .Mar_..Apr . . .May...June..

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

1967: Jan.. . .Feb . . .Mar. . .Apr . . .May...June..

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

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

137.6142.7132.6

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

147.8163.0161.6

65.366.559.0

72.783.092.1

100.587.7

96.5107.1104.288.8

107.1

110.8110.4123.5129.2141.4

160.5183.8183.4

42.946.947.1

56.462.973.191.783.8

102.097.4

106.489.5

104.0

108.2103.6118.3127.0130.7

149.2166.9165.9

53.755.249.2

57.365.778.185.382.9

88.795.498.092.1

109.9

116.5115.8123.0130.2136.4

151.4176.5184.7

75.879.772.3

87.792.089.392.789.6

100.7102.097.594.1

108.5

105.7104.5109.3114.4121.1

127.6132.9130.9

73.577.471.6

83.780.282.489.786.8

97.9101.097.693.3

109.0

113.3114.1124.5129.1138.4

151.8165.0162.4

81.084.580.6

89.187.489.590.786.9

95.598.096.995.0

108.1

107.5108.4115.1118.5125.2

135.8141.6138.9

66.769.469.3

76.779.477.782.685.0

92.597.197.897.0

105.2

109.0112.4116.7120.1127.5

135.3146.4149.7

47.550.849.4

60.767.469.975.274.7

86.891.495.695.5

108.9

113.9118.9131.2141.8152.5

164.6181.9189.2

Seasonally adjusted

131.2137.0141.8142.5145.3147.3

147.8148.0146.6145.0140.5137.6

132.6131.9129.2129.1128.9129.0

129.6129.3129.2131.6134.8142

157.7161.6161.7161.4162.9161.8

162.1163.1163.1164.2164.7168.7

166.7165.0162.9161.0160.8160.8

159.8159.1158.1158.1159.6161

174.2176.2176.1178.1180.5182.7

186.7188.7190.0191.1189.8190.3

190.3186.8184.5182.1180.5177.5

180.0182.8182.2179.6183.2183

163.0163.8165.4165.5164.9165.9

164.8163.7166.3172.6170.6169.1

162.6157.5162.6165.7167.5169.3

170.8171.9159.2159.3165.7177

166.8169.4171.9173.7176.4176.5

177.0177.4179.5181.8183.2184.6

186.2183.4185.8185.2185.3184.1

182.9183.2183.1183.2185.4186

134.7135.0136.1136.8135.6133.1

131.7130.2129.2129.5129.1128.8

128.6128.9128.4129.8127.8126.7

127.3126.7129.6131.4134.7137

158.4161.6162.9163.5166.7167.0

163.5167.1165.9166.0167.1168.1

166.3163.9162.4162.9162.3161.5

159.1159.9161.4160.9161.4163

138.9140.1141.4142.6143.1142.4

141.4141.3141.4142.3142.2142.2

140.3137.6135.5135.5135.3134.8

135.3137.6139.1140.6141.9143

141.7142.7144.2143.5146.6148.3

149.6148.6147.2147.9148.5147.4

148.4148.7149.5149.9149.1149.4

148.6150.3148.5148.5150.2151

175.7176.3177.4177.9179.3181.0

181.8183.6185.1186.3188.5188.6

187.1186.5186.8186.4182.2183.0

184.0189.5191.2190.9195.3198

80.780.080.8

83.685.487.388.289.8

93.196.696.799.4

103.9

106.6110.2113.3116.8120.8

123.4128.1131.4

125.8127.2128.0126.9126.4127.6

128.2128.9128.1128.6128.9131.2

131.0131.5131.1131.8130.9131.3

130.9131.0130.4131.1130.8131


251


TABLE B-38.—Manufacturing output, capacity, and utilization rate, 1948-67

Period

19481949 . .

19501951195219531954

1955195619571958 _1959

196019611962 . .19631964

19651966 . . .1967*

1961: 1IIIIIIV

1962- 1II .IllIV

1963: I — .IIIIIIV

1964: 1IIIII . . . . .IV

1965: 1IIIII . .IV

1966: 1IIIIIIV . . .

1967: I vII vIII vIV p

Output Capacity i

1957-59 output=100

68.965.1

75.881 985.292.786.3

97.3100.2100 893 2

106.0

108.9109.6118.7124.9133.1

145 0158.6159.5

76.881.1

84.387 492.798.4

103.3

108.4114.3120 7125.8130.1

134.9139.6144.4149.8155.6

164.0175.0186.5

Utilization rate 2

Total Advancedproducts

Primaryproducts

Percent

89.780.2

90.494 091 394.283.5

90.087.783 674.081.5

80.678.582.183.385.7

88.590.585.1

87.980.3

87.391 091.994.183.8

87.886.082.373.681.0

81.178.982.583.184.4

87.690.585.8

92.280.0

94.898 190.494.483.0

93.290.185.374.682.1

80.078.181.683.687.4

89.790.584.0

Seasonally adjusted

103.1108.4112.3115.0

116.6118.6119.7119.9

121.3124.9126.0127.2

129.4132.5134.7135.9

141.4143.5146.1148.9

154.5157.7159.9161.7

158.9157.5158.4160.9

137.9139.0140.1141.2

142.4143.7145.1146.4

147.8149.1150.5151.8

153.3154.9156.4158.0

160.1162.7165.3167.9

170.6173.5176.4179.3

182.2185.1187.9190.8

74.578.080.281.5

82.082.482.481.8

82.083.983.783.7

84.585.786.386.2

88.588.488.588.6

90.590.990.690.0

87.184.984.184.3

76.378.279.781.3

81.482.883.382.5

82.282.983.683.7

83.884.784.984.4

87.287.187.488.7

90.390.590.690.6

87.886.285.284.2

72.177.780.981.7

82.781.981.180.7

81.785.283.983.8

85.587.188.388.8

90.290.190.188.5

90.991.490.689.1

86.083.182.584.4

1 For description and source of data see "A Revised Index of Manufacturing Capacity," Frank de Leeuw, Frank E.Hopkins,and Michael D. Sherman, "Federal Reserve Bulletin," November 1966, pp. 160571615. See also McGraw-Hill surveys on"Business Plans for New Plants and Equipment" for data on capacity and operating rates.

2 Output as percent of capacity; based on unrounded data.Source: Board of Governors of the Federal Reserve System (output) and sources in footnote 1 (capacity and utilization

rate).

252


TABLE B-39.—Business expenditures for new plant and equipment, 1939 and 1945-68


Year or quarter

1939

19451946194719481949

1950 . - .1951195219531954 .

1955 .1956195719581959

I9601961196219631964

1965.. .19661967 3

1965' 1| |IIIIV

1966: 1IIIIIIV

1967: 1II| | |_ . .IV 3

1968: i s

11 3

Total i

5.51

8.6914.8520.6122.0619.28

20.6025.6426 4928.3226.83

28.7035.0836 9630.5332.54

35.6834.3737.3139.2244.90

51.9660.6361.48

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

22.4526.9926.84

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

11.4013.9913.78

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

11.0513.0013.07

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.24.94.99

.99

.981.081.041.19

1.301.471.43

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

1.731.981.55

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

2.813.443.88

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

6.948.419.59

Com-mer-cialand

other 2

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

16.7318.3618.20


49.0050.3552.7555.35

58.0060.1061.2562.80

61.6561.5060.9062.05

65.0565.85

20.7521.5523.0024.15

25.6026.8027.5527.75

27.8527.0026.1526.55

27.7528.40

10.4010.8011.7512.45

13.1513.8514.3514.50

14.2013.7513.5013.75

14.6015.00

10.4010.7011.2511.70

12.4512.9513.2013.25

13.7013.2512.6512.80

13.1513.40

1.251.301.251.35

1.401.551.451.45

1.401.301.451.50

1.60

1.751.551.701.95

1.752.001.852.35

1.801.551.401.45

1.50

2.552.703.003.00

3.303.503.403.50

3.053.904.104.45

4.75

6.806.856.757.30

8.258.308.558.50

9.209.709.809.60

11.15

15.8516.4017.0017.55

17.7017.9518.4519.25

18.3018.0517.9518.50

18.3537^45

1 Excludes agriculture.3 Commercial and other includes trade, service, finance, communications, and construction.3 Estimates based on anticipated capital expenditures reported by business in late October and November 1967. The

quarterly anticipations include adjustments, when necessary, for systematic tendencies in anticipatory data.Note.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the average of seasonally

adjusted figures.These figures do not agree precisely with plant and equipment expenditures included in the gross national product

estimates of the Department of Commerce. The main difference lies in the inclusion in the gross national product of in-vestment by farmers, professionals, institutions, and real estate firms, and of certain 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 Exchange Commission.

284-593 0—68 17253


TABLE B-40.—New construction activity, 1929-67

[Value put in place, millions of dollars]

Year or month

1929

193019311932193319341935 . . . . .1936193719381939

194019411942194319441945 .1946

New series5

194619471948.1949

195019511952195319541955195619571958.1959

1960 . .196119621963

New series6

19621963196419651966 - . - .1967 7

Totalnewcon-

struc-tion

10,793

8,7416,4273,5382,8793,7204,2326,4976,9996,9808,198

8,68211,95714,0758,3015,2595,809

12,627

14,30820,04126,07826,722

33,57535,43536,82839,13641,38046,51947,60149,13950,15355,305

53,94155,44759,57662,755

59,66763,42366,20071,91274,37174,680

Private construction

Total

8,307

5,8833,7681,6761,2311,5091,9992,9813,9033,5604,389

5,0546,2063,4151,9792,1863,411

10,396

12,07716,72221,37420,453

26,70926,18026,04927,89429,66834,80434,86935,08034,69639,235

38,07838,29941,70743,859

41,79844,05745,81049,84050,44649,560

Residentialbuilding

(nonfarm)

Total i

3,625

2,0751,565

630470625

1,0101,5651,8751,9902,680

2,9853,5101 715

885815

1,2764,752

6,2479,850

13,12812,428

18,12615,88115,80316,59418,18721,87720,17819,00619,78924,251

21,70621,68024,29225,843

24,29226,18726,25826,26623,81523,597

Newhous-

ingunits

3,040

1,5701,320

485290380710

1,2101,4751,6202,270

2,5603,0401,440

710570720

3,300

4,7957,765

10, 50610,043

15, 55113,20712,85113,41114,93118,24216,14314,73615,44519,233

16,41016,18918,63820,064

18,63820,38520,35420,35117,96417,902

Nonresidential building andother construction

Total

4,682

3,8082,2031,046

761884989

1,4162,0281,5701,709

2,0692,6961,7001,0941,3712,1355,644

5,8306,8728,2468,025

8,58310,29910,24611,30011,48112,92714,69116, 07414,90714,984

16,37216,61917,41518,016

17,50617,87019,55223,57426,63125,963

Com-mer-cial 2

1,135

893454223130173211290387285292

3484091553356

2031,153

1,153957

1,3971,182

1,4151,4981,1371,7912,2123,2183,6313,5643,5893,930

4,1804,6744,9555,200

5,1444,9955,3966,7456,8906,971

In-dus-trial

949

53222174

176191158266492232254

442801346156208642

1,689

1,6891,7021,397

972

1,0622,1172,3202,2292,0302,3993,0843,5572,3822,106

2,8512,7802,9492,962

2,8422,9063,5655,1286,7036,126

Others

2,598

2,3831,528

749455520620860

1,1491,0531,163

1,2791,4861,199

9051,1071,2902,802

2,9884,2135,4525,871

6,1066,6846,7897,2807,2397,3107,9768,9538,9368,948

9,3419,1659,5119,854

9,5209,969

10,59111,70113,03812,866

Public construction

Total

2,486

2,8582,6591,8621,6482,2112,2333,5163,0963,4203,809

3,6285 751

10,6606,3223,0732,3982,231

2,2313,3194,7046,269

6,8669,255

10,77911,24211,71211,71512,73214,05915,45716,070

15,86317,14817,86918,896

17,86919,36620,39022,07223,92525,120

Fed-erallyowned

155

209271333516626814797776717759

1,1823,7519,3135,6092,5051,737

865

865840

1,1771,488

1,6242,9814,1854,1393,4282,7692,7262,9743,3873,724

3,6223,8793,9133,970

3,9134,0103,9054,0223,8813,369

Stateand

locallyowned 4

2,331

2,6492,3881,5291,1321,5851,4192,7192,3202,7033,050

2,4462,0001,347

713568661

1,366

1,3662,4793,5274,781

5,2426,2746,5947,1038,2848,946

10,00611,08512,07012,346

12,24113,26913,95614,926

13,95615,35616,48518,05020,04421,751


254


TABLE B-40.—New construction activity, 1929-67— Continued

[Value put in place, millions of dollars]

Year or month

1966: JanF e b . . . .M a r . . . .A p r . . . .May..--J u n e . - .

JulyAugSeptOctNov... .D e c . . .

1967: JanFeb_.. .Mar..-_Apr..._May....June

July. . . .AugSept....OctNOVP. . .

Totalnewcon-

struc-tion

77,17577,58878,42776,94975,18374,540

73,08873,36973,98172,25571,98772,169

74,83674,9%73,08471,96173,90472,374

73,39974,39276,29576,91077,189

Private construction

Total

53,08553,34253,89652,51251,61751,476

50,49250,45650,10747,88347,09646,410

48,33447,96046,90646,04247,81348,052

49,15150,17051,72652,19552,064

Residential build-ing (nonfarm)

Total i

26,78726,61426,33425,91525,57624,859

24,13723,35622,67821,58720,32419,844

19,92820,27820,82921,13022,10722,885

23,65224,61925,30625,97126,575

Newhous-

ingunits

Nonresidential building and other

Total

construction

Com-mer-cial 2

In-dus-trial

Seasonally adjusted annual rate;

20,72620,48220,32820,11219,84219,067

18,21617,42216,83115,85714,64014,177

14,03414,33514,95915,46316,54217,318

17,98918,93219,64420,33020,938

26,29826,72827,56226,59726,04126,617

26,35527,10027,42926,29626,77226,566

28,40627,68226,07724,91225,70625,167

25,49925,55126,42026,22425,489

7,4686,9967,4906,7936,3506,662

6,7636,9167,0786,6856,6897,027

7,9257,6977,1946,9267,0936,683

6,7396,4376,7316,9916,860

6,3976,6106,5786,7986,7187,022

7,0127,1546,8956,6736,8766,469

7,1307,0546,0975,5796,0065,886

6,1546,0116,5776,2405,592

Others

>

12,43313,12213,49413,00612,97312,933

12,58013,03013,45612,93813,20713,070

13,35112,93112,78612,40712,60712,598

12,60613,10313,11212,99313,037

Public

Total

24,09024,24624,53124,43723,56623,064

22,59622,91323,87424,37224,89125,759

26,50227,03626,17825,91926,09124,322

24,24824,22224,56924,71525,125

construction

Fed-erallyowned

4,3164,1364,3824,1193,7543,999

3,7683,7233,6943,5793,7023,679

3,7943,4353,4773,0613,2243,104

3,4813,3623,4063,3363,526

Stateand

locallyowned4

19,77420,11020,14920,31819,81219,065

18,83019,19020,18020,79321,18922,080

22,70823,60122,70122,85822,86721,218

20,76720,86021,16321,37921, 599

* 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 Includes Federal grants-in-aid for State and locally owned projects.5 New series in 1946 reflects differences due to the new higher level series of housing starts and farm construction ex-

penditures and the reduced level value in place series for public utilities. See "Construction Report C30-61 (Supplement)"for a description of the differences.

6 New series differs from old in that it reflects differences in 1962 due to the introduction of new series for private non-residential buildings and differences in 1963 due to the introduction of new series for State and locally owned publicconstruction. See "Construction Report C30-65S" for a description of the differences.

7 Preliminary estimates by Council of Economic Advisers.Source: Department of Commerce, Bureau of the Census.

255


TABLE B-41.—New housing starts and applications for financing, 1929-67

[Thousands of units]

Year ormonth

Housing starts

Private andpublic i

Total(farm

andnon-

farm)

Non-farm

Private i

Total (farm and nonfarm)

Total

Type ofstructure 2

Onefamily

Two ormore

families

Nonfarm

Total

Governmenthome programs

FHA3 VA

Newprivatehousing

unitsauthor-ized *

Proposedhome con-struction s

Appli-cations

forFHAcom-mit-

ments 3

Re-quests

forVAap:

)rais-als

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938.1939.

1940.1941.1942.1943.1944.

509.0 509.0

330.0254.0

330.0254.0134.093.0

126.0

215.7304.2332.4

134.093.0

126.0

221.0319.0336.0406.0515.0

602.6706.1356.0191.0141.8

New series19451946194719481949

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

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

1960.1961.1962.1963.1964.

1965.,1966.1967i

,553.5

1,296.01,365.01,492.41,642.01,561.6

1,509.61,196.21,322.0

326.1023.2268.5362.1466.1

951.9491.0503.9437.6550.5

646.0349.1223.9382.0531.3

,274.0, 336.8,468.7,614.8,534.7

,487.5,172.8

1,299.0

,516.8

1,252.11,313.01,462.71,610.31,529.3

1,472.91,165.01,291.8

,234.3

994.7974.4991.3

1,020.7971.5

963.8778.5843.1

282.5

257.4338.6471.4589.6557.8

509.1386.5448.7

399.3458.4

529.6619.5301.2183.7138.7

324.91,015.21,265.11,344.01,429.8

1,908.11,419.8,445.4,402.1,531.8

,626.6,324.9

1,174.81,314.21,494.6

1,230.11,284.81,439.01,582.91,502.3

1,450.61,141.51,268.4

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

159.9129.1141.9

6 20.647.849.8

131.1179.8

231.2

78.891.3

160.371.190.8

191.2148.6141.3156.5307.0

392.9270.7128.3102.1109.3

74.683.377.871.059.2

49.436.852.5

288.5238.5144.462.9

56.6121.7286.4293.2327.0

1,208.3

998.01,064.21,186.61,334.71,285.8

1,239.8971.9

1,080.9

397.7192.8267.9253.7338.6

306.2197.7198.8341.7369.7

242.4243.8221.1190.2182.1

188.9153.0167.2

Monthly totals, unadjusted

1966: Jan....,Feb...Mar....

May"."."June...

July...Aug...Sept—Oct....Nov...Dec...

164.4226.3251.4535.4

620.8401.5159.4234.2234.0

142.9177.8171.2139.3113.6

102.199.2124.3

81.979.0

122.4143.0133.9123.8

100.1103.791.979.175.162.3

80.977.5

120.2140.7130.6121.5

98.4101.589.777.073.761.1

79.476.2

118.1140.9130.0120.6

99.3101.889.176.672.860.2

46.650.483.294.384.779.8

69.169.459.453.550.237.9

32.825.834.946.645.340.8

30.232.429.723.122.622.3

78.574.8

115.9138.6126.7118.2

97.699.686.974.471.458.9

10.210.215.613.912.812.2

10.611.58.78.38.16.9

2.82.23.23.03.33.9

3.43.33.13.13.02.5

76.073.1

117.8114.1107.095.0

77.479.365.961.356.148.9

13.613.817.716.012.813.0

10.611.613.09.98.7

12.5

5.95.49.110.19.4

8.510:48.99.17.06.6


256


TABLE B-41.—New housing starts and applications for financing, 1929-67—Continued

[Thousands of units]

Year ormonth

Housing starts

Private andpublic i

Total(farmandnon-

farm)

Non-farm

PrLvate»

Total (farm and nonfarm)

Total

Type ofstructure 2

Onefamily

Two ormore

families

Nonfarm

Total

Governmenthome programs

FHA3 VA

Newprivatehousing

unitsauthor-ized *

Proposedhome con-struction 5

Ap-plica-tionsforFHAcom-mit-

ments 3

Re-questsforVAapprais-

als

Monthly totals, unadjusted

1967:JanFebMarAprMayJune


61.763.292.9115.9134.2131.6

126.1130.2125.8137.0120.083.4

60.462.090.7114.2131.9129.6

124.9126.5123.4134.6118.382.5

1966: Jan—Feb..Mar. .Apr. .May -June.

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

1967: Jan.. .Feb. .Mar. .Apr. .May..June.

July..Aug_.Sept-Oct—Nov..D e c .

59.161.491.5113.7132.0125.4

125.3127.4121.9135.4118.280.5

40.140.366.679.887.387.6

82.383.778.281.769.146.2

19.021.124.933.944.737.8

43.043.743.753.749.134.3

57.760.289.2112.0129.7123.4

124.0123.6119.5133.1116.579.5

8.68.311.111.114.814.3

12.313.912.614.111.79.4

3.12.93.94.14.75.2

4.85.64.85.34.53.6

54.853.986.493.7105.1109.1

91.8104.997.6105.894.583.3

10.110.716.614.816.016.3

12.717.114.615.312.910.2

7.17.7

10.311.010.912.8

12.211.610.812.59.57.9


1,4331,4081,4301,3771,2621,185

1,0791,1081,048845975931

1,1111,1491,0941,1161,2741,233

1,3691,4071,4451,4961,5871,256

913990981892820771

725719694597686633

806802774759839849

862875923913951788

520418449485442414

354389354248289298

305347320357435384

507532522583636468

1,4031,3811,4001,3561,2321,161

1,0611,0881,020824956910

1,0791,1321,0671,0991,2541,214

1,3561,3811,4151,4781,5641,241

181177187151128121

1171139694107105

150139130125143143

139139147152154149

503742353540

373133343637

524850504952

525555575456

1,2681,2061,2711,1931.104960

930852740718719761

942894928

1,0281,0331,109

1,093L. 127i; 1591,2121.158,362

214179160168133127

124119151122135203

157135152162160166

150176178181194168

7292

1119890

99106104119103104

107104103125108135

145124129155136126

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

2 Not available prior to 1959 except for nonfarm for 1929-44.3 Units are for 1-4 family housing.4 Data beginning 1963 cover approximately 12,000 permit-issuing places. Data for 1959-62 are based on reports from

approximately 10,000 places. In 1963, the additional 2,000 permit-issuing places accounted for almost 50,000 new privatelyowned housing unit authorizations.

5 Units in mortgage applications or appraisal requests for new home construction.• FHA program approved in June 1934: all 1934 activity included in 1935.7 Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.

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

257


TABLE B-42.—Sales and inventories in manufacturing and trade, 1947-67

[Amounts in millions of dollars]

Year or month

1947...1948...1949—

1950—1951...1952...1953—1954...

1955—1956...1957...19581959—

1960...1961.. .1962...1963...1964...1965...1966...1967 *..

AprMay

1966: Jan..Feb..Mar.AprMay.June..

July..Aug. .Sept..Oct . . .Nov..Dec___

1967: Jan-_F e b —Mar. .Apr.. .May. .June..

July..Aug. .Sept..Oct . . .Nov p_Dec p.

Total manufacturingand trade

Sales »

35,26033,788

38,59643,35644,84047,98746,443

51,69454,06355,87954,23359,661

Inven-tories 2

52,50749,497

59,82270,24272,37776,12273,175

79,51687,30489,05286,92291,891

60,74661,10665,594 100;68,692 105,578

94,74795,8131,627

73,459 111,051" 528 120,896

135,54988J338 139,685

Ratio 3

1.421.53

1.361.551.581.581.60

1.471.551.591.601.50

1.561.541.501.491.471.461.481.56

Manufacturing

Sales i

15,51317,31616,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,28030,219

30,79630,88433,30834,77437,12940,27944,03745,100

Inven-tories 2

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,07052,707

53,81455,08757,75360,14762,94468,01577,89782,100

Ratio 3

1.581.571.75

1.481.661.781.761.81

1.621.731.1.841.70

1.761.741.701.691.641.611.641.79

Merchant wholesalers

Sales i

6,514

7,6958,5978,7829,0528,993

9,89310,51310,47510,25711,491

11,65611,98812,67413,38214,52715,59516,97917,127

Inven-tories 2

7,9577,706

9,2849,88610,21010,68610,637

11,67813,26012,73012,73913,879

14,12014,48814,93616,04816,97718,27420,69121,111

Ratios

Retail trade

Sales 1

10,20011,13511,149

12,26813,04613,52914,09114,095

15,32115,81116,66716,69617,951

18,29418,23419,61320,53621,80223,65425,30626,111

Inyen-tories2

14,24116,00715,470

19,46021,05021,03121,48820,926

22,76923,40224,45124,11325,305

26,81326,23827,93829,38331,13034,60736,96136,474

Ratio 3

Seasonally adjusted

84,72784,530 122,'86,99185,45585,42686,957

121,570122,542123,630124,700126,179127,584

86,678 128,71486,995 130,04386,775 130,83987,066 132,39286,699 133,85687,875 135,549

87,386 136,59086,299 136,78087,458 137,09386,833|l37,35187,6111137,42888,549 137,076

88,991 137,40589,295 138,18788,785 138,12987,996 138,64390,777 139,668

1.431.451.421.461.481.47

1.481.491.511.521.541.54

1.561.581.571.581.571.55

1.541.551.561.581.54

42,66542,70244,12143,54044,07144,125

44,32744,20644,09144,48744,39345,511

44,46043,93244,86643,94344,94544,888

45,40245,67544,72344,71246,848

68,59469,04069,64870,34671,10371,949

72,95874,11074,88475,78876.89677.89778,88679,39479,70880,33080, 57880,390

80,89781,37081,17681,48182,083

1.611.621.581.62.61.63

.6568707073

.77

.81

.78

.831.791.79

1.781.781.821.821.75

16,98116,77917,33416,96616,88017,438

16,98917,21716,98117,02916,69616,9%

17,23916,89716,85316,97216,76917,117

18,23118,58018,88119,00819,14919,310

19,44419,74219,60019,92420,22620,691

20,78020,74220,85920,78520,58720,599

17,145 20,51117,198 20,78917,330 20,81017,195 20,94517,462 21,111

1.07.11.09.12.13.11

.15

.15

.17

.21

.22

.21

.23

.24

.22

.23

.20

.20

.21

.20

.221.21

25,08125,04925,53624,94924,47525,394

25,36225,57225,70325,55025,61025,368

25,68725,47025,73925,91825,89726,544

26,44426,42226,73226,08926,46726,343

34,74534,92235,10135,34635,92736,325

36,31236,19136,35536,68036,73436,961

36,92436,64436,52636,23636,26336,087

35,99736,02836,14336,21736,474

1.261.391.41

1.381.641.521.531.51

1.431.471.44.43.40

.45

.43

.381.391.401.401.421.39

1.391.391.371.421.471.43

1.431.421.411.441.431.46

1.441.441.421.401.401.36

1.361.361.351.391.38

1 Monthly average 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.

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

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

258


TABLE B-43.—Manufacturers* shipments and inventories, 1947-67

[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..1966-1967 3

1966: J a n . . .Feb—M a r . . .A p r -May . .June..

July..A u g . . .Sept..Oct . .Nov__D e c . .

1967: Jan . . .Feb.. .M a r . . .Apr. . .May. .June..

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

Shipments i

Total

15,51317,31616,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,28030,219

30,79630,88433,30834,77437,129

40,27944,03745,100

Dura-ble

goodsindus-tries

6,6947,5797,191

8,84510,49311,31313,34911,828

14,07114,71515,23713,57215,544

15,81715,53217,18418,07119,231

21,02023,00623,000

Non-durablegoodsindus-tries

8,8199,7388,935

9,78911,22111,21611,49411,527

12,40913,02513,49913,70814,675

14,97915,35216,12416,70417,898

19,25821,03222,100

Inventories 2

Total

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,07052,707

53,81455,08757,75360,14762,944

68,01577,89782,100

Durable goods industries Nondurable goods industries

Total

13,06114,66213,060

15,53920,99123,73125,87823,710

Mate-rialsandsup-plies

8,9667,894

Workin

process

10,7209,721

26,405 9,194 10,75630,447 10,417 12,31731,728 10,608 12,83730,095 9,847 12,29431,839 10,585 12,952

32,36032,64634,32636,02838,412

42,32450,03753,500

10,28610,23410,57110,87911,688

12,94314,80214,800

12,78013,22514,12914,85715,933

18,10922,26324,700

Fin-ishedgoods

6,2066,040

6,3487,5658,1257,7498,143

9,1909,0889,593

10,29210,791

11,27212,97214,000

Total

12,83613,88113,261

15,53918,31517,40518,07017,902

18,66420,19520,14319,97520,868

21,45422,44123,42724,11924, 532

25,69127,86028,600

Mate-rialsandsup-plies

8,3178,167

8,5568,9718,7758,6719,089

9,1139,5119,7709,7699,619

9,96410,50110,500

Workin

proces:

2,4722,440

2,5712,7212,8642,8002,928

Fin-ishedgoods

7,4097,415

7,6668,6228,6248,4988,857

2,935 9,3533,120 9,7073,304 10,2463,479! 10,8713,522 11,391

3,8624,3334,600

11,86513,02613,500

Seasonally adjusted

42,66542,70244,12L43,54044,07144,125

44,32744,20644,09144,48744,39345,511

44,46043,93244,86643,94344,94544,888

45,40245,67544,72344,71246,848

22,30722,43323,23822,70822,91522,898

23,03122,87422,97123,45123,23723,715

23,06022,62223,13722,26922,90023,052

23,19223,63322,94922,31123,65425,175

20,35820,26920,88320,83221,15621,227

21,29621,33221,12021,03621,15621,796

21,40021,31021,72921,67422,04521,836

22,21022,04221,77422,40123,194

68,59469,04069,64870,34671,10371,949

72,95874,11074,88475,78876,89677,897

78,88679,39479,70880,33080,57880,390

80,89781,37081,17681,48182,083

42,58942,88443,27343,77944,27545,003

45,79046,81447,56848,35249,31050,037

50,62051,07951,21651,59351,78451,809

52,34652,78452,57252,91853,505

12,951 18,285'13,004 18,46812,988 18,80713,146 19,14113,298! 19,30213,507 19,693

11,35311,41211,47811,49211,67511,803

13,653 20,235 11,90213,997! 20,698 12,11914,309! 20,949' 12,31014,465 21,446! 12,44114,599 21,934 12,77714,802 22,263 12,972

14,88014,85614,74814,72114,57614,485

14,53614,66814,59714,71814,779

22,643 13,09722,967 13,25623,140 13,32823,423! 13,44923,5921 13,61623,704 13,620

24,13924,21524,14324,37024,719

13,67113,90113,83213,830,14,007

26,00526,15626,37526,56726,82826,946

27,16827,29627,31627,43627,58627,860

28,26628,31528,49228,73728,79428,581

28,55128,58628,60428, 56328,578

10,02810,07210,15310,30910,43910,562

10,50610,61510,57910,54210,57110,501

10,60910,55310,63710,71210,76710,778

10,66110,72910,71910,58610,551

3,8763,8773,8933,9133,9914,044

12,10112,20712,32912,34512,39812,340

4,062 12,6004,126j 12,5554,169 12,5684,2514,2534,333

4,3494,3491,355t,346,366,421

i,362i,412i,429,539

4,553

12,64312,76213,026

13,30813,41313,50013,67913,66113,382

13,52813,44513,45613,43813,474

year and total for month.2 Book value, seasonally adjusted, end of period.3 Where December data not available, data for year calculated on basis of no change from November.


259


TABLE B-44.—Manufacturers' new and unfilled orders, 1947-67

[Amounts in millions of dollars]

Year or month

New orders1

Total

Durable goodsindustries

TotalMachin-ery andequip-ment

Non-dura-ble

goodsindus-tries

Unfilled orders 2

Total

Dura-ble

goodsindus-tries

Non-dura-ble

goodsindus-tries

Unfilled orders-ship-ments ratio 3

Total

Dura-ble

goodsindus-tries

Non-dura-

blegoodsindus-tries

1947..1948..1949..

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

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

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

1965..1966..1967«.

1966: Jan...Feb..Mar..Apr..May-June.

July..Aug_.Sept-Oct—Nov..Dec.

1967: Jan...Feb..Mar..Apr..May..June..

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

Dec*-

15,25617,69215,614

20,11023,90723,20323,53322,313

27,42328,38327,51426,90130,679

30,11531,06133,16735,03637,697

41,02345,18245,300

43,98644,12945,83345,06445,32145,833

45,62544,84246,31845,24344,05245,845

43,40843,52743,70043,84945,73846,087

45,97745,90045,27445,78247,088

6,3888,1266,633

10,16512,84112,06112,10510,743

14.95415,38114,07313,17015,951

15,22315,66417,08518,30019,803

21,72824,15323,200

2,0841,770

2,4992,8702,5662,3542,878

2,7912,8543,0903,3263,706

4,1404,7314,700

8,8689,5668,981

9,94511,066il,14211,42811,570

12,46913,00213,44113,73114,728

14,89215,39716,08216,73617,895

19,29521,02922,100

34,41530,71724,506

43,05569,78575,64961,17848,266

60,00467,37553,18348,88254,494

46,13348,34346,78449,79657,044

66,06879,91781,800

28,53226,60120,018

36,83865,83572,48058,63745,250

56,24163,88050,35245,73950,654

43,40145,17344,09446,67653,958

62, 53476,41578,500

5,8834,1164,488

6,2173,9503,1692,5413,016

3,7633,4952,8313,1433,840

2,7323,1702,6903,1203,086

3,5343,5023,300

3.42

3.633.873.35

2.522.442.362.45

2.612.952.98

Seasonally adjusted

4.12

4.274.554.00

3.012.942.852.96

3.163.623.68

23,57823,74124,88824,19724,27624,593

24,37123,51225,27424,24423,02723,960

22,07222,32922,06522,22623,85724,263

23,71523,72623,41623,38123,84326,111

4,4504,5844,5874,7884,8454,753

5,0924,8134,9064,8164,6474,603

4,5454,2424,3154,4434,6074,794

4,8535,0584,6654,6144,8725,133

20,40820,38820,94520,86721,04521,240

21,25421,33021,04420,99921,02521,885

21,33621,19821,63521,62321,88121,824

22,26222,17421,85822,40123,245

67,38868,81470,52772,04973,29775,009

76,31076,94279,17079,92379,58179,917

78,86378,45577,29077,19477,98879.188

79,76479,98580,53781,61081,849

63,80365,11066,76268,25069,60971,308

72,65173,28675,59176,38276,17076,415

75,42775,13174,06074,01674,97376,185

76,71076,80177,26878,34078, 526

3,5853,7043,7653,7993,6883,701

3,6593,6563,5793,5413,4113,502

3,4363,3243,2303,1783,0153,003

3,0543,1843,2693,2703,323

2.652.712.692.782.792.86

2.832.892.973.002.992.95

2.952.992.903.002.953.03

2.982.963.073.122.98

3.213.283,253.373.403.50

3.493.543.643.673.673.62

3.643.683,583.733.693.74

3.713.633.783.883.68

0.96

1.121.04.85

.76

.65

.66

.61

.64

.58

.54

0.65.68.66.68.64.64

.61

.62

.61

.60

.58

.58

.57

.57

.55

.54

.49

.52

.50

.54

.57

.55

.54

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

for December.<Where December data not available, data for year calculated on basis of no change from November.Source: Department of Commerce, Bureau of the Census.

260


PRICES

TABLE B-45.—Consumer price indexes, by major groups, 1929-67

For city wage earners and clerical workers

[1957-59=100]

Year or month

1929

1930193119321933193419351936193719381939

1940194119421943 . -194419451946194719481949 . .

19501951195219531954 .1955195619571958 . -1959

196019611962 -19631964196519661967

1966: Jan_.FebMar..AprMayJune

JulyAug .SeptOct .NovDec

1967: JanFebMar.AprMayJune


Allitems

59.7

58.253 047.645.146 647 848.350.049 148.4

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 9113 1116.3

111.0111 6112.0112.5112.6112.9

113.3113.8114.1114.5114 6114.7

114 7114.8115.0115.3115 6116.0

116 5116.9117.1117.5117.8118.2

Food

55.6

52.943.636.335.339 342.142.544.241.039.9

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 8114 2115.2

111.4113 1113.9114.0113.5113.9

114.3115.8115.6115.6114 8114.8

114 7114.2114.2113.7113 9115.1

116 0116 6115.9115.7115.6116.2

Housing

Total

56.357.159.160.159.7

59.961.464.264.966.467.569.374.579.881.0

83.288.289.992.393.494.195.598.5

100.2101.3

103 1103.9104.8106.0107.2108 5111 1114.3

109.2109 4109.6110.3110.7111.1

111.3111.5111.8112.2112 6113.0

113 1113.3113.3113.6113 9114 1

114 3114 7115.0115.3115.5116.0

Rent

85.4

83.178.770.660.857 056.958.360.962 963.0

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 4105.7106.8107.8108.9110 4112.4

109.7109 8109.9110.1110.2110.2

110.3110.6110.7111.0111 2111.3

111 4111.7111.8111.9112 1112 2

112 4112 6112.8113.0113.2113.5

Appareland

upkeep

55.3

54.149.243.642.146 146.546.949.349.048.3

48.851.159.662.266.770.176.989 295.091.3

90.198.297.296.596.395.997 899.599.8

100.6

102 2103 0103.6104.8105.7106.8109 6114.0

107.3107 6108.2108.7109.3109.4

109.2109.2110.7111.5112 0112.3

111.3111.9112.6113.0113 8113.9

113.7113.8115.1116.0116.6116.8

Trans-porta-tion

49.449.850.651.049.8

49.551.255.755.555.555.458.364.371.677.0

79.084.089.692.190.889.791 396.599.7

103.8

103 8105.0107.2107.8109.3111.1112 7115.9

111.2111 1111.4112.0112.0112.2

113.5113.5113.3114.3114 5113.8

113.4113.8114.2115.1115.5115.7

116.2116.4116.8117.7118.3117.9

Medicalcare

49.449.650.050 250.2

50 350.652.054.556.257.560.765 769.872.0

73.476.981.183.986.688.691 895.5

100.1104.4

108 1111.3114.2117.0119.4122.3127 7136.7

124.2124 5125.3125.8126.3127.0

127.7128.4129.4130.4131 3131.9

132.9133.6134.6135.1135.7136.3

136.9137.5138.5139.0139.7140.4

Personalcare

42.643.245.746 746.5

46 447.652.257.661.763.668.276 279.178.9

78.986.387.388.188.590.093 797.1

100.4102.4

104 1104 6106.5107.9109.2109.9112 2115.5

110.4110 8111.0111.6112.0112.2

112.5112.7113.0113.3113.4113.7

113.8114.1114.4114.9115.0115.3

115.5116.1116.4116.5116.9117.2

Readingand

recrea-tion

50 251.052.554 354.4

55.457.360.065.072.075.077.582.586.789.9

89.392.092.493.392.492.193.496.9

100.8102.4

104.9107.2109.6111.5114.1115.2117.1120.1

115.7115.9116.6116.8116.8117.0

117.2117.4117.5118.0118.3118.4

118.5118.6118.9119.4119.6119.7

119.8120.0120.5121.4122.0122.2

Othergoodsand

services

52 752.654.054 555.4

57 158.259.963.064.767.369.575 478.981.2

82.686.190.692.894.394.395.898.599.8

101.8

103.8104.6105.3107.1108.8111.4114.9118.2

113.4113.6113.8114.3114.7114.9

115.3115.5115.7115.9116.0115.9

116.2116.3116.4116.6116.7116.9

117.8118.8119.7120.3121.0121.4


26l


TABLE B-46.—Consumer price indexes, by special groups, 1935—67


[1957-59=100]

Year or month

1935193619371938 .1939

1940194119421943194419451946194719481949

195019511952195319541955 - - . .1956195719581959

I9601961196219631964196519661967

1966: JanFebMarAprMay.June

July . . .AugSeptOct . .NovDec

1967: Jan.. .FebMarAprMayJune

July . . . . . .AugSeptOctNovDec

Allitems

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

103.1104.2105.4106.7108.1109.9113.1116.3

111.0111.6112.0112.5112.6112.9

113.3113.8114.1114.5114.6114.7

114.7114.8115.0115.3115.6116.0

116.5116.9117.1117.5117.8118.2

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

103.7104.8106.1107.4108.9110.4113.0116.8

111.1111.3111 6112.2112.5112.8

113.2113.4113.8114.4114 8114.9

114.8115.2115.4115.9116.3116.5

116.8117.1117.7118.2118.7118.9

Allitemsless

shel-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

103.0104.2105.4106.7108.0109.6112.9115.9

110.8111.4111.9112.4112.4112.6

113.1113.6113.9114.3114 4114.3

114.2114.3114.6114.8115.1115.6

116.1116.5116.7117.1117.5117.7

Commodities

Allcom-modi-ties

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

101.7102.3103.2104.1105.2106.4109.2111.2

107.4108.0108.4108.8108.8109.0

109.3109.8110.0110.3110 2110.1

109.9109.9110.0110.2110.5111.0

111.5111.9112.0112.4112.6112.9

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

101.4102.6103.6105.1106.4108.8114.2115.2

111.4113.1113.9114.0113.5113.9

114.3115.8115.6115.6114.8114.8

114.7114.2114.2113.7113.9115.1

116.0116.6115.9115.7115.6116.2

Commodities less food

All

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

101.7102.0102.8103.5104.4105.1106.5109.2

105.3105.4105.6106.0106.3106.4

106.7106.6107.0107.6107.8107.7

107.3107.6107.8108.4108.7108.9

109.1109.4110.0110.6111.1111.1

Dura-ble

47.147.850.851.750.6

50.253.660.962.968.773.977.383.889.991.2

92.299.2

100.599.897.395.495.498.5

100.0101.5

100.9100.8101.8102.1103.0102.6102.7104.3

101.9101.8102.0102.3102.5102.6

103.0103.0102.7103.5103.5103.1

102.7102.8102.9103.4103.9104.1

104.4104.7104.8105.7106.0106.1

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

102.6103.2103.8104.8105.7107.2109.7113.1

108.0108.3108.6109.0109.3109.5

109.7109.6110.5110.9111.3111.4

111.0111.5111.8112.4112.7112.7

112.8113.2114.1114.5115.2115.2

Services

Allservices

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 9113.0115.2117.8122.3127.7

119.5119.7120.1121.1121.5122.0

122.6123.0123.5124.1124.7125.2

125.5125.9126.3126.6127.0127.4

127.7128.2128.7129.1129.6130.1

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

103.1104.4105.7106.8107.8108.9110.4112.4

109.7109.8109.9110.1110.2110.2

110.3110.6110.7111.0111.2111.3

111.4111.7111.8111.9112.1112.2

112.4112.6112.8113.0113.2113.5

Allserv-iceslessrent

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 5117.0120.0125.0131.1

121.8122.0122.5123.6124.1124.8

125.5125.9126.5127.1127.7128.3

128.8129.2129.5130.0130.4130.8

131.2131.7132.3132.7133.2133.8


262


TABLE B—47.—Consumer price indexes, selected commodities and services, 1935-67


[1957-59 = 100]

Year ormonth

193519361937... .19381939

1940194119421943..1944.... . .19451946....19471948 .1949

1950....195119521953.... . .195419551956195719581959

19601961196219631964 . .196519661967

1966: Jan.. .Feb...Mar...Apr.May...June..

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

1967: Jan.. .F e b . .Mar...A p r -May...June..

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

Durable commodities

Total

47.147.850.851.750.6

50.253.660.962.968.773.977.383.889.991 2

92.299.2

100.599.897.395 495.498.5

100.0101.5

100.9100.8101.8102.1103.0102.6102.7104.3

101.9101.8102.0102.3102.5102.6

103.0103.0102.7103.5103.5103.1

102.7102.8102.9103.4103.9104.1

104.4104.7104.8105.7106.0106.1

Newcars

40 340 641.443 442.4

42.545.7

67.974.281 2

81.885.793.194.092.589 291.796.599.6

103.9

102.5102.5102.1101.5101.299.097.298.1

97.497.297.197.497.096.8

96.795.894.498.499.398.6

97.697.397.297.096.996.8

97.096.996.1

101.1101.4101.3

Usedcars

108.492.287 283.994.097.4

108.8

101.6105.6115.2116.6121.6120.8117.8121.5

114.8114.0115.4117.4117.5118.2

120.3122.1120.1120.8119.3114.2

113.0114.0115.9118.8121.4122.4

124.8125.2126.2126.0125.6124.8

House-holddura-bles

51.252 156.756 755.6

54.958.765.768 274.680 384.993.999.997.2

98.4107.8105.0103.8101.098 397.999.6

100.3100.2

100.198.998.898.598.496.996.898.2

96.196.196.296.496.796.7

96.997.097.397.497.697.7

97.697.797.898.098.198.0

98.198.298.498.798.899.1

Housefur-nish-ings

48.048 852.852 451.3

50.954.461.963.669.173 980.693.499.195.7

96.3106.8104.2103.7101.9100 098.9

100.599.899.8

100.199.598.998.598.497.998.8

100.8

97.697.898.098.398.598.6

98.898.999.399.599.9

100.0

99.7100.0100.3100.6100.6100.7

100.8100.8101.2101.5101.8102.1

Nondurable commod-ities less food

Total

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

102.6103.2103.8104.8105.7107.2109.7113.1

108.0108.3108.6109.0109.3109.5

109.7109.6110.5110.9111.3111.4

111.0111.5111.8112.4112.7112.7

112.8113.2114.1114.5115.2115.2

Apparelcom-mod-ities

46.747.249.849 448.6

49.251.760.463.267.671.278.590.996.592.7

91.6100.299.198.097.597 098.699.799.7

100.6

102.0102.6103.0104.0104.9105.8108.5113.0

106.2106.5107.1107.6108.3108.3

108.1107.9109.7110.4110.9111.2

110.1110.7111.5111.9112.7112.8

112.6112.7114.1115.1115.7115.9

Non-dura-bleslessfoodand

apparel

51.451.953.253 152.4

52.954.757.860.261.963.165.874.981.881.9

82.587.689.391.692.592 895.198.899.9

101.3

102.8103.3104.2105.3106.2108.0110.3113.1

109.1109.3109.4109.8110.0110.1

110.6110.5111.0111.2111.5111.6

111.6111.9112.0112.7112.6112.7

113.0113.4114.1114.2114.8114.7

Services less rent

Total

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

107.4110.0112.1114.5117.0120.0125.0131.1

121.8122.0122.5123.6124.1124.8

125.5125.9126.5127.1127.7128.3

128.8129.2129.5130.0130.4130.8

131.2131.7132.3132.7133.2133.8

House-holdserv-iceslessrent

90.495.7

100.8103.6

108.0109.2110.6113.0114.8117.0121.5127.0

117.9118.1118.5120.2120.9121.7

122.1122.4123.0123.5124.2124.9

125.1125.5125.6126.0126.5126.7

127.0127.5128.1128.4128.6129.1

Trans-porta-tionserv-ices

46.646.245.946.246.4

46.346 649.149.149.049 150.151.757.764.2

68.474.880.185.288.989 190.594.8

100.8104.3

107.0109.5111.2112.4115.0119.3124.3128.4

122.5122.6122.6123.0123.0123.2

125.0125.3125.5125.9126.1126.5

126.9127.2127.4127.6127.7128.1

128.3128.8128.9129.2130.0130.4

Med-icalcareserv-ices

46.346.547.147.247.3

47.347.649.051.653.755.258.463.367.670.1

71.775.380.183.085.588 091.495.3

100.0104.8

109.1113.1116.8120.3123.2127.1133.9145.6

129.5129.9130.8131.4132.1133.0

133.9134.7136.2137.4138.6139.4

140.6141.6142.9143.6144.4145.2

146.0146.7148.0148.7149.6150.4

Other*

93.597.2

100.2102.6

106.2109.7112.6115.3118.5121.8126.5131.5

123.8124.1125.0125.5125.9126.4

126.7127.1127.5128.2128.5128.9

129.1129.4129.7130.3130.8131.3

131.6131.9132.4133.1133.9134.3

1 Includes the services components of apparel, personal care, reading and recreation, and other goods and services.


263


TABLE B-48.— Wholesale price indexes, by major commodity groups, 1929-67

[1957-59=100]

Year or month

1929

1930 - -193119321933193419351936193719381939

1940 . .194119421943194419451946194719481949

1950195119521953195419551956 - -195719581959

I960 .19611962196319641965 -. -.19661967


JulyAugSeptOct -.NovDec

1967* JanFebMarApr . . .MayJune


All com-modities

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

100.7100.3100.6100.3100.5102.5105.9106.1

104.6105.4105.4105.5105.6105.7

106.4106.8106.8106.2105.9105.9

106.2106.0105.7105.3105.8106.3

106.5106.1106.2106.1106.2106.8

Farmproducts

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

105.699.7

104.5107.4106.8106.4104.5104.2

107.8108.1108.7104.4102.5101.8

102.6101.099.697.6

100.7102.4

102.899.298.497.196.498.9

Processedfoods and

feeds

92.699.190.0

93.2103.5102.397.699.395.094.897.6

102.599.9

100.0101.6102.7103.3103.1106.7113.0111.7

111.5113.0112.2111.5111.8112.0

113.8115.7115.5113.9112.6112.8

112.8111.7110.6110.0110.7112.6

113.1112.1112.7111.7110.9111.5

Industrial commodities

Total

51 7

48.142.439 740.244.244.044.948.146.146.0

46.850.353.954.755.656.361.775.381.780.0

82.991.589.490.190.492.496.599.299.5

101.3

101.3100.8100.8100.7101.2102.5104.7106.3

103.5103.8104.0104.3104.7104.9

105.2105.2105.2105.3105.5105.5

105.8106.0106.0106.0106.0106.0

106.0106.3106.5106.8107.1107.4

Textileproducts

andapparel

67 8

60.349.841.248.654.753.353.757.350.152.3

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

100.6100.5101.2101.8102.1102.1

101.9102.0102.1102.2102.2102.2

102.4102.4102.2102.2102.1101.8

102.0102.0101.8101.8101.6101.6

101.5101.7102.0102.2103.0103.8

Hides,skins,

leather,and

relatedproducts

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

105.2106.2107.4104.2104.6109.2119.7115.8

116.0117.8118.7120.6122.8122.9

122.7121.2119.9118.7117.5117.3

117.9118.0116.9115.7115.2115.6

115.2114.4114.4114.8115.4116.0

Fuels andrelated

products,and

power

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

99.6100.7100.299.897.198.9

101.3103.6

100.5100.399.9

100.0100.4101.5

101.4102.0102.2102.6102.7102.4

102.6103.4103.7103.3104.4104.0

103.9104.7104.5103.0102.8102.6

Chemicalsand alliedproducts

46 648.850.951 253 651.050.7

51.656.162 363.163.864 269.492.294 486.2

87.5100.195.096.197.396.997.599.6

100.4100.0

100.299.197.596.396.797.497.898.4

97.697.697.697.697.797.6

97.997.998.097.998.098.2

98.498.598.598.898.898.5

98.398.097.998.298.298.4


264


TABLE B-48.—Wholesale price

Year or month

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949 .

195019511952 .1953195419551956 -195719581959

19601961 .196219631964 .196519661967

1966: Jan . . . . .FebMarAprMay . . . . .June „

July.AugSept . - .OctNovDec

1967: JanFebMarApr . . .MayJune


Rubberand

rubberproducts

57.6

50 442.837.139 045.545.849.458.157.159.3

55.359.669.471.370 468.368.668.370.568.3

83.2102.192.586.387.699.2

100.6100.2100.199.7

99.996.193.393.892.592.994.897.0

93.794.194.395.495.495.4

95.195.194.794.695.095.0

95.695.895.995.995.895.8

95.897.898.298.899.199.2

Lumberand

woodproducts

26.4

24 119.616 920 023.522.623.627.925.426.1

28.934.537.539.742.843.449.777.488.581.9

94.1102.599.599.497.6

102.3103.898.597.4

104.1

100.495.996.598.6

100.6101.1105.6105.4

102.8103.7105.6108.4109.6107.7

106.6106.2105.9104.8103.0102.5

102.6103.6103.6104.1104.2104.7

105.3106.1108.7107.3106.7107.6

indexes, by major commodity groups}

[1957-59=100]

Industrial commodities—Continuec

Pulp,paper,and

alliedproducts

75.378.675.2

77.191.389.088.788.891.197.299.0

100.1101.0

101.898.8

100.099.299.099.9

102.6104.0

101.2101.3101.8102.3102.7103.0

103.2103.2103.1103.1103.0103.0

103.1103.3103.6103.9103.9103.9

104.1104.0104.1104.3104.6104.8

Metalsand

metalproducts

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

101.3100.7100.0100.1102.8105.7108.3109.5

107.0107.5108.0108.2108.4108.7

108.8108.5108.4108.6109.0109.0

109.4109.6109.4109.1108.9108.9

109.0109.2109.6109.8110.5111.0

Machin-ery andequip-ment

46.2

46.347.147.847.447.147.251.960.065.168.2

70.578.878.980.782.184.691.597.9

100.0102.1

102.9102.8102.9103.1103.8105.0108.2111.8

106.0106.5106.9107.2107.8108.1

108.3108.5108.9109.4110.2110.7

111.1111.2111.5111.6111.6111.6

111.6111.8111.9112.2112.6113.2

Furni-ture andhouse-hold

durables

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

100.199.598.898.198.598.099.1

101.0

98.398.498.498.698.998.9

99.099.199.299.7

100.3100.4

100.4100.4100.6100.6100.8100.8

100.9101.0101.2101.7102.0102.1

1929-67— Continued

J

Nonme-tallic

mineralproducts

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

101.4101.8101.8101.3101.5101.7102.6104.3

102.0102.1102.1102.3102.4102.5

102.7102 7103.0103.2103.3103.3

103.6103.7103.8103.9103.8103.9

104.2104.5104.7104.9105.1105.3

Trans-portationequip-ment:Motor

vehiclesand

equip-ment̂

42.8

40 338.337 335 637 536.035.738 240.840.0

41.344.248.248.248 549.457.265 572.477.4

77.081.185.885.485.688.293.297.2

100.3102.5

101.0100.8100.8100.0100.5100.7100.8102.1

100.5100.4100.3100.2100.9100.7

100.7100.5100.1101.7101.7101.7

101.6101.6101.6101.6101.6101.4

101.3101.3101.5103.7104.0104.0

Miscel-laneousproducts

80 383.685.2

86.691.791.293.694.494.595.898.6

100.6100.8

101.7102.0102.4103.3104.1104.8106.8109.2

105.4105.4106.5106.7106.8106.9

107.1107 1107.1107 2107.4107.5

107.9108.0107.7108.0108.0109.6

109.7110.0110.2110.5110.6110.7

* Index for total transportation equipment not available.Source: Department of Labor, Bureau of Labor Statistics.

265


TABLE B—49.—Wholesale price indexes, by stage of processing, 1947—67

[1957-59=100}

Year or month

194719481949..

19501951195219531954.

19551956..195719581959 . .

19601961. .196219631964

196519661967

81.287.983.5

86.896.794.092.792.9

93.296.299.0

100.4100.6

100.7100.3100.6100.3100.5

102.5105.9106.1

1966: Jan...Feb...Mar__A p r -May..June..

July..Aug..Sept..Oct...Nov-_Dec—

May."..

1967: Jan.Feb.Mar.Apr.May.June..

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

Allcom-modi-ties

104.6105.4105.4105.5105.6105.7

106.4106.8106.8106.2105.9105.9

106.2106.0105.7105.3105.8106.3

106.5106.1106.2106.1106.2106.8

Crude materials

Total

100.8110.595.6

104.2119.6109.9101.5100.6

96.797.299.4

101.699.0

96.696.197.195.094.1

98.9105.399.6

105.2107.5106.9106.3105.7105.6

107.8107.4106.1103.6101.1100.8

101.9100.899.798.0

100.6101.4

101.799.598.597.996.598.6

Food-stuffsand

feed-stuffs

113.0122.2101.5

108.9126.0118.6106.2106.2

96.294.298.4

104.297.4

96.294.996.894.091.9

98.3107.2101.2

106.8109.6108.3107.5106.5106.0

109.1111.2109.9106.2102.5102.3

104.2102.7101.399.2

103.1104.2

104.7101.499.999.196.198.3

Non-foodmate-rials,

exceptfuel

86.596.287.5

100.0115.399.995.693.8

99.1102.8101.497.6

101.0

96.897.997.496.297.8

99.8101.995.5

102.2103.8104.6104.5104.5105.1

105.7100.298.998.297.697.4

97.096.595.794.694.795.1

94.694.594.394.295.998.4

Fuel

73.687.086.5

86.187.788.391.487.3

87.193.398.699.8

101.6

102.5102.3101.8103.0102.5

103.3106.4110.3

105.6105.9105.2104.0105.0105.3

105.5106.2107.0108.1108.9109.7

109.4109.3109.4110.2110.3109.8

110.2110.3111.0110.9111.3111.5

Intermediate materials, supplies, and components *

Total

76.582.779.4

83.093.090.390.891.3

93.097.199.499.6

101.0

101.0100.3100.2100.5100.9

102.2104.8105.6

103.4103.8103.9104.3104.8104.9

105.4105.8105.6105.3105.3105.4

105.6105.5105.5105.5105.3105.4

105.4105.4105.7105.7105.9106.3

Materials and components formanufacturing

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

102.0104.0104.7

102.8103.2103.4103.7104.1104.1

104.4104.8104.6104.3104.4104.5

104.7104.8104.6104.6104.4104.4

104.4104.5104.7104.8105.2105.6

Mate-rials

for foodmanu-factur-

ing

durable durable

102.6105.891.0

94.7105.5101.4101.6100.7

97.597.999.7

102.098.3

99.5102.6100.5105.5104.0

106.6111.3109.2

109.7111.1110.8110.1109.8110.0

111.9114.8113.6111.6111.2110.9

110.1109.0108.7108.1109.1110.2

110.2109.9110.0108.6108.0108.1

Mate-rials

for non-

manu-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

98.799.599.0

98.999.099.299.499.7

100.0

100.2100.199.899.599.299.2

99.399.399.199.198.998.6

98.498.498.498.899.399.8

Mate-rialsfor

manu-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

104.6106.6108.0

105.5105.8106.1106.6106.8106.7

106.6106.9106.8106.8107.0107.1

107.6107.9107.7107.7107.4107.4

107.5107.7108.2108.4108.8109.3

Com-ponents

formanu-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

101.3104.9107.9

102.5102.9103.3104.1104.8105.0

105.1105.4105.5105.9106.6107.1

107.5107.6107.9107.9107.6107.5

107.5107.9108.0108.1108.6109.1

Mate-rialsand

com-ponentsfor con-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

101.4104.1105.4

102.3102.7103.4104.3104.8104.5

104.5104.6104.6104.5104.3104.3

104.4104.7104.8104.9104.8104.9

105.2105.5106.3106.2106.3106.8


266


TABLE B-49.—Wholesale price indexes, by stage of processing, 1947-67—Continued

11957-59=1001

Year or month

194719481949

19501951195219531954

195519561957 . . . .19581959

19601961196219631964

196519661967

1966*JanFebMarAprMayJune




Total

80.186.484.0

85.593.693.092.192.3

92.595.198.6

100.8100.6

101.4101.4101.7101.4101.8

103.6106.9108.2

105.6106.3106.4106.3106.2106.4

107.0107.5108.1107.8107.8107.6

107.7107.6107.2107.0107.6108.4

108.7108.3108.7108.6108.9109.3

Finishec1 goods

Consumer finished goods

Total

86.192.688.3

89.898.297.095.495.3

94.796.198.9

101.0100.1

101.1100.9101.2100.7100.9

102.8106.4107.0

105.2106.0106.1105.9105.6105.7

106.4107.1107.8107.2107.0106.6

106.6106.5106.0105.7106.4107.4

107.7107.2107.6107.2107.5107.9

Foods

90.799.091.0

92.8104.2103.397.997.1

94.794.597.8

103.598.7

100.8100.4101.3100.1100.6

104.5111.2109.5

109.5111.5111.5110.7109.6109.5

111.2112.8114 5112.2111.3110.5

110.3109.3107.9106.9108.5110.9

111.5109.6110.5108.8109.1110.1

Othernon-

durablegoods

86.592.088.2

89.696.594.195.095.3

95.897.799.999.3

100.8

101.5101.5101.6101.9101.6

102.8104.8107.2

103.9104.0104.1104.3104.5104.9

105.0105.2105 4105.5105.7105.5

105.8106.3106.4106.4106.9107.2

107.4108.0108.0107.8107.9108.0

Du-rablegoods

75.981.183.2

84.189.790.491.191.8

92.895.998.7

100.1101.3

100.9100.5100.099.599.9

99.6100.2101.7

99.799.799.799.8

100.2100.1

100.2100.1100.0100.9101.2101.3

101.3101.3101.3101.3101.3101.0

101.1101.2101.4102.8103.0103.0

Pro-ducer

finishedgoods

61.867.470.7

72.479.580.882.183.1

85.692.097.7

100.2102.1

102.3102.5102.9103.1104.1

105.4108.0111.5

106.2106.6106.8107.0107 6107.9

108.1108.3108 4109.1109.8110.2

110.5110.6110.7110.8111.1111.2

111.2111.4111.6112.6113.0113.4

Special groups of industrialproducts

Crudemate-rials 2

79.292.584.0

93.6102.993.192.488.0

96.6102.3100.996.9

102.3

98.397.295.694.397.1

100.9104.5100.0

104.0105 7106.6106.1105 9106.5

106.4103.3102 8102.8102.7101.6

101.4101.1100.299.399.499.4

99.099.099.599.4

100.6101.3

Inter-mediate

materials,supplies,and com-ponents3

73.479.877.8

81.491 288.389.489.8

92.597.099.699.4

101.0

101.4100.199.999.6

100.2

101.5103.6104 8

102.4102 6102.9103.4103 8103.9

104.0104.2104 1104.1104.1104.1

104.4104.6104.6104.7104.6104.5

104.5104.6104.9105.0105.3105.7

Con-sumer

finishedgoods ex-

cludingfoods

83.188.486.5

87.894 292 993.794.1

94 897.199.599 6

100.9

101.3101.2101.0101.0100.9

101.6103.2105 2

102.4102 4102.5102.8103 0103.2

103.3103.4103 5103.9104.1104.0

104.2104.5104.5104.6104.8104.9

105.1105.5105.6106.0106.1106.2

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.Note.—For a listing of the commodities included in each sector, see Table 2B, "Wholesale Prices and Price Indexes,"

1963 (BLS Bulletin 1513).Source: Department of Labor, Bureau of Labor Statistics.

267


MONEY SUPPLY, CREDIT, AND FINANCETABLE B-50.—Money supply, 1947-67

{Averages of daily figures, billions of dollars]

Year and month

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply

Total

Cur-rencycom-po-

nent^

De-mand

depositcom-

ponent 2

Timede-

positsad-

just-

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply

Total

Cur-rencycom-po-

nent 1

De-mand

depositcom-

ponents

Timede-

positsad-

just-ed 3

U.S.Gov-ern-mentde-

mandde-pos-its «

Seasonally adjusted Unadjusted

1947: Dec.1948: Dec.1949: Dec.

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



1965: Dec.1966: Dec.1967: Dec p.

1966: Jan...Feb..Mar-Apr..May..June-July..Aug..Sept.Oct...Nov..Dec.

1967: Jan. .Feb..Mar_.Apr -May.June.

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

148.5147.5147.6

152.9160.9168.5173.3180.6

185.2188.8193.3206.5209.3

213.9228.1245.2265.2285.9

313.7329.0365.3

315.5316.6319.0322.3323.6324.5

325.7327.1327.9327.7327.5329.0

331.1335.0339.2340.8344.4348.6

352.5356.3358.2361.1363.7365.3

113.1111.5111.2

116.2122.7127.4128.8132.3

135.2136.9135.9141.1141.9

141.1145.4147.4153.0159.3

166.8170.4181.5

167.9168.3169.2170.5170.2170.6

169.9170.1170.5170.1170.1170.4

170.3171.5173.1172.7174.5176.2

177.9179.1179.2180.3181.2181.5

26.425.825.1

25.026.127.327.727.4

27.828.228.328.628.9

28.929.630.632.534.2

36.338.340.4

36.636.736.937.137.337.4

37.737.837.938.038.138.3

38.538.738.939.139.239.3

39.539.639.839.940.040.4

86.785.886.0

91.296.5

100.1101.1104.9

107.4108.7107.6112.6113.1

112.1115.9116.8120.5125.1

130.5132.1141.1

131.4131.6132.3133.4132.9133.2

132.3132.4132.6132.1132.0132.1

131.8132.8134.2133.6135.3136.8

138.4139.6139.5140.3141.2141.1

35.436.036.4

36.738.241.144.548.3

50.051.957.465.467.4

72.982.797.8

112.2126.6

146.9158.6183.8

147.5148.3149.8151.8153.45154.0

155.7156.9157.4157.6157.4158.6

160.8163.5166.1168.1170.0172.4

174.6177.2178.9180.8182.5183.8

151.0150.0150.0

155.6163.8171.7176.3183.6

188.2191.7196.0209.3212.2

216.8231.2248.2268.2289.2

317.3332.7369.0

320.4316.4318.1323.9320.9323.1

324.2324.5327.1327.6327.6332.7

336.0334.6338.7342.4341.9347.3

351.0353.6357.3360.8363.6369.0

115.9114.3113.9

119.2125.8130.8132.1135.6

138.6140.3139.3144.7145.6

144.7149.4151.6157.3164.0

172.0175.8187.2

173.0167.7167.8171.5166.7168.6

168.0167.0169.7170.5171.5175.8

175.3170.6171.9173.6171.1174.3

175.8175.9178.4180.6182.5187.2

26.826.225.5

25.426.627.828.227.9

28.428.828.929.229.5

29.630.231.233.135.0

37.139.141.2

36.536.436.536.837.037.3

37.837.837.938.138.539.1

38.538.338.538.738.939.3

39.639.639.840.040.441.2

89.188.188.4

93.899.2

103.0103.9107.7

110.2111.5110.4115.5116.1

115.2119.2120.3124.1129.1

134.9136.7146.0

136.5131.3131.2134.7129.7131.4

130.1129.2131.8132.4133.0136.7

136.8132.3133.4134.9132.2135.1

136.2136.2138.6140.6142.1146.0

35.135.736.1

36.438.040.944.248.0

49.651.456.764.666.6

72.181.896.7

111.0125.2

145.2156.9181.8

147.4148.7150.4152.4154.2«154.4

156.2157.4157.4157.1156.1156.9

160.7164.0166.7168.8170.8173.0

175.1177.7178.9180.3181.1181.8

1.01.82.8

2.42.74.93.85.0

3.43.43.53.94.9

4.74.95.65.15.5

4.63.45.0

3.85.14.53.07.16.1

8.05.14.34.83.73.4

4.15.04.94.86.53.9

5.64.35.06.25.25.0

1 Currency outside the Treasury, the Federal Reserve System, and the vaults of all commercial banks.2 Demand deposits at all commercial banks, other than those due to domestic commercial banks and the U.S. Govern-

ment, less cash items in process of collection and Federal Reserve float, plus foreign demand balances at Federal Reservebanks.

s Time deposits adjusted are time deposits at all commercial banks other than those due to domestic commercial banksand the U.S. Government.

4 Deposits at all commercial banks.5 Effective June 1966, balances accumulated for payment of personal loans are reclassified for reserve purposes and are

excluded from time deposits reported by member banks. The estimated amount of such deposits at all commercial banks($1.1 billion) is excluded from time deposits adjusted thereafter.


268


TABLE B-51.—Bank loans and investments, 1929-67[Billions of dollars]

End of year or month 1

1929«1930s1931 5

1932 5

1933 5

1934 5193519361937.193819391940194119421943.. .1944194519461947 . . . .1948

1948.1949 . .1950195119521953.1954..195519561957.1958 . . .195919601961.1962 6 . . .1963619641965...19661967 61966: Jan

Feb .MarApr.MayJuneJulyAug. .SeptOctNovDec

1967: Jan .FebMarAprMayJuneJulyAug. . . .SeptOctp .Nov v . .Dece

All commercial banks

Total loansand invest-

ments 2

49.448.944.936 130.432.736 139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3114.2

Loans 2

35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.4

Investments

U.S. Govern-ment securities

4.95.06.06.27.5

10.313.815.314.215.116.317.821.841.459.877.690.674.869.262.6

Othersecurities

8.79.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2

Seasonally adjusted

113.0118.7124.7130.2133.1143.1153.1157.6161.6166.4181.2185.9194.5209.6227.9246.2267.2294.4

7 310.2344.4297.0298.6300.1302.1303.7

7 306.8307.5309.9309.4308.9309.3310.2314.4318.0321.4323.2324.6325.6332.4337.3339.5342.6344.3344.4

41.542.051.156.562.866.269.180.688.191.595.6

107.5113.8120.5134.1149.7167.7192.4

7 207.8224.0194.6196.7198.4200.6202.3

7 203.4204.5205.8206.2207.2207.5207.8210.4211.0211.3213.5213.5213.9217.1218.2220.2221.8222.3224.0

62.366.461.160.462.262.267.660.357.256.965.157.959.865.264.561.560.757.353.760.057.456.556.055.354.154.954.556.054.953.453.453.754.255.957.856.156.155.458.861.861.662.361.860.0

9.210.312.413.414.214.716.416.816.317.920.520.520.823.929.235.038.744.8

7 48.760.445.045.545.746.247.3

7 48.548.548.048.348.448.448.749.951.152.353.655.056.356.557.357.758.660.260.4

Weekly re-porting largecommercial

banks3

Business loans4

5.14.24.75.37.16.36.46.57.3

11.314.715.6

15.613.917.921.623.423.422.426.730.831.831.730.732.232.935.238.842.1

3 53.160.765.852.953.655.255.056.057.858.758.359.459.560.060.760.360.462.062.361.863.863.762.263.463.163.765.8

1 Data are for last Wednesday of month (except June 30 and December 31 call dates used for all commercial banks).2 Adjusted to exclude interbank loans beginning 1948.3 Loans by weekly reporting large commercial banks beginning 1965 and formerly weekly reporting member banks. See

"Federal Reserve Bulletin," March 1967. ,. .< Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans to financial institu-

tions excluded. Prior to 1943, published data adjusted to include open market paper.5 June data used because complete end-of-year data not available.6 Commercial bank data are estimates for December 31.7 Effective June 1966, balances accumulated for paymen1 of personal loans (about $1.1 billion) are excluded from loans

at all commercial banks, and certain certificates of CCC and Export-Import Bank totaling about $1 billion are included inother securities rather than in loans.


284-593 0—68- -18269


TABLE B-52.—Selected liquid assets held by the public, 1946-671

[Billions of dollars, seasonally adjusted]

End of year or month

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

1950..1951..1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964.

1965...1966...1967 P.

1966: Jan . . .Feb_.Mar . .Apr . . .May. .June-July..Aug. .Sept..Oct.. .Nov..Dec. . .

1967: Jan. . .Feb. .Mar . .Apr . .May. .June-

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

Total

239.1246.2254.1262.1

271.4281.0296.0311.5320.3

332.5343.2356.0373.1393.9

399.2424.6459.0495.4530.5

573.0601.7648.8

578.5577.6585.6587.1585.9

s 589.5

588.6592.9594.5596.2600.6601.7

605.1604.7615.1613.2619.7620.6

623.0630.2635.3638.1645.7648.8

Demanddeposits

andcurrency 2

108.5112.4110.5110.4

115.5120.9125.5127.3130.2

133.3134.6133.5138.8139.7

138.4142.6144.8149.6156.7

164.0168.6180.3

164.8162.7167.0166.4163.7166.5

164.3167.0166.1166.0168.0168.6

166.9165.8171.0168.6172.9173.7

171.9174.1176.2175.7177.8180.3

Time deposits

Com-mercialbanks 3

33.935.335.936.3

36.638.241.244.648.2

49.752.057.565.467.4

73.182.598.1

112.9127.1

147.1159.6182.5

149.2149.4151.1152.5153.6

M53.9

156.1156.6156.7156.6158.3159.6

163.6165.3167.6168.6170.7172.4

174.7177.2178.1180.1183.7182.5

Mutualsavingsbanks

16.917.818.419.3

20.120.922.624.426.3

28.130.031.633.934.9

36.238.341.444.549.0

52.655.259.9

52.853.053.153.153.353.6

53.753.954.254.654.855.2

55.555.956.356.857.457.8

58.458.758.959.559.959.9

Postalsavingssystem

3.33.43.33.2

2.92.72.52.42.1

1.91.61.31.1.9

.8

.6

.5

.5

.4

.3

.1

.3

.3

.3

.3

.3

.2

.2

.2

.2

.2

.1

.1

.1

.1

.1

.1

.1

.1

.1

.1

.1

Savingsand

shares

8.59.7

11.012.5

14.016.119.222.827.2

32.037.041.747.754.3

61.870.579.890.9

101.4

109.8113.4123.8

109.9110.7111.6111.1111.3111.5

110.9111.4112.3112.2113.0113.4

113.7114.8116.3117.1118.0118.9

119.9121.0122.4123.0123.7123.8

U.S.Govern-

mentsavingsbonds*

48.650.953.455.0

55.855.455.755.655.6

55.954.851.650.547.9

47.047.447.649.049.9

50.550.951.9

50.550.350.350.450.450.4

50.650.650.550.650.650.9

51.050.951.051.151.151.2

51.351.351.451.451.551.9

U.S.Govern-

mentsecuritiesmaturing

within1 year4

19.416.621.625.5

26.426.829.334.430.6

31.633.238.835.648.8

41.942.646.848.146.1

48.653.950.5

51.151.052.153.353.353.4

52.853.354.556.055.853.9

54.251.752.950.949.546.5

46.747.848.248.349.150.5

1 Excludes holdings of the U.S. Government, Government agencies and trust funds, domestic commercial banks, andFederal Reserve banks. Adjusted wherever possible to avoid double counting.

2 Agrees in concept with the money supply, Table B-53, except for deduction of demand deposits held by mutual savingsbanks and savings and loan associations. Data are for last Wednesday of month.

3 Time deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government(same concept as in Table B-50). Data are for last Wednesday of month, except that June 30, and December 31 calldata are used where available.

< Excludes holdings of Government agencies and trust funds, domestic commercial and mutual savings banks, FederalReserve banks, and beginning February 1960, savings and loan associations.

s Effective June 1966, balances accumulated for the payment of personal loans (about $1.1 billion) are excluded fromtime deposits at all commercial banks and from total liquid assets.


270


T A B L E B—53.—Federal Reserve Bank credit and member bank reserves, 1929—67

[Averages of daily figures, millions of dollars]

Year and month

Reserve Bank credit outstanding

TotalU.S.

Govern-ment se-curities

Memberbank

borrow-ings

Allother,mainlyfloat

Member bank reserves

Total Re-quired Excess

Memberbank freereserves(excessreservesless bor-rowings)

1929: Dec.

1930: Dec.1931: Dec.1932: Dec.1933: Dec.1934: Dec.1935: Dec.1936: Dec.1937: Dec.1938: Dec.1939: Dec.

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

1950:1951:1952:1953:1954:1955:1956:1957:1958:1959:

Dec.Dec.Dec.Dec.Dec.Dec.Dec.Dec.Dec-Dec.

Dec.Dec.Dec.Dec.Dec.Dec.Dec.Dec.Dec.Dec.

1960: Dec..1961: Dec.1962: Dec.1963: Dec.1964: Dec.1965: Dec.1966: Dec.1967: Dec*

1966: Jan..Feb..Mar.Apr..

June..

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

1967: Jan—Feb..Mar . .Apr . .M a y -June.

Ju ly -Aug. .Sept..Oct...Nov..Dec p.

1,643

1,2731,9502,1922,6692,4722,4942,4982,6282,6182,612

2,3052,4046,03511,91419,61224,74424,74622,85823,97819,012

21,60625,44627,29927,10726,31726,85327,15626,18628,41229,435

29,06031,21733,21836,61039,87343,85346,86451,268

43,44943,11642,94343,33943,89144,498

45,73745,34845,63145,60446,08746,864

46,80246,58746,52446,90247,32347,547

48,59048,21048,14748,99349,75251,268

446

644777

1,8542,4322,4302,4302,4342,5652,5642,510

2,1882,2195,54911,16618,69323,70823,76721,90523,00218,287

20,34523,40924,40025,63924,91724,60224,76523,98226,31227,036

27,24829,09830,54633,72937,12640,88543,76048,891

40,62640,63540,39840,62941,12941,672

42,22142,28042,73542,83743,34743,760

44,06644,21544,62045,08245,69945,844

46,80746,61246,39847,36748,01048,891

801

33776328195106716

3

35490265334157224134118

142657

1,593441246839688710557906

87149304327243454557238

402478551626722674

766728766733611557

389362199134101123

878990126133238

396

29241057142325857474799

114180483659654702821729842607

1,1191,3801,3061,0271,1541,4121,7031,4941,5431,493

1,7251,9702,3682,5542,5042,5142,5472,139

2,4212,0031,9942,0842,0402,152

2,7502,3402,1302,0342,1292,547

2,3472,0101,7051,6861,5231,580

1,6961,5091,6591,5001,6092,139

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

M8,932

19,28320,11820,04020,74621,60922,71923,83025,256

22,75022,23322,16022,52822,48722,534

23,09022,65523,24023,33323,25123,830

24,07523,70923,40523,36223,28423.518

23,90723,79124,20024,60824,73825,256

2,347

2,3422,0101,909

U,8222,2902,7334,6195,8085,5206,462

7,4039,42210,77611,70112,88414,53615,61716,27519,19315,488

16,36419,48420,45719,22718,57618,64618,88318,84318,38318,450

18,52719,55019,46820,21021,19822,26723,43824,915

22,39221,86221,85522,17022,11722,212

22,68222,31722,84223,03122,86223,438

23,70223,35122,97023,05322,91423,098

23,54823,40423,84224,32224,33724,915

48

7360

5261766

1,7482,9832,0461,0713,2265,011

6,6463,3902,3761,0481,2841,491

900986797803

1,027826723693703594652577516482

756568572536411452392341

358371305358370322

408338398302389392

373358435309370420

359387358286403341

-753

-264-703245671

1,7382,9772,0391,0553,2195,008

6,6433,3852,372958

1,0191,157743762663685

885169

-870252457

-245-36-133-41-424

419268209168- 2

-165103

-44-107-246-268-352-352

-358-390-368-431-222-165

-16- 4236175269297

272298268160270103

* Data from March 1933 through April 1934 are for licensed banks only.2 Beginning December 1959, total reserves held include vault cash allowed.Source: Board of Governors of the Federal Reserve System.

271


TABLE B-54.—Bond yields and interest rates, 1929-67

[Percent per annum]

Year or month

1929

193019311932. . . .19331934

193519361937..19381939

1940 .1941194219431944

19451946194719481949 - - . .

1950195119521953 .1954

19551956195719581 9 5 9 . .

I96019611962 .19631964

196519661967

1965'JanFebMar

May"June


U.S

3-monthTreas-

urybills i

1 402.879.515.256

.137143

.447

.053

.023

.014

.103326

. 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

3.9544.8814.321

3.8283 9293.9423.9323 8953.810

3.8313.8363.9124 0324.0824.362

Government securities

9-12month

issues2

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

4.095.174.84

3 873 974.034.003 993.98

3.964.004.114 184.294.66

3-5year

issues3

2.662.12

1.291 111.40.83.59

.50

.731.461.341.33

1.181.161 321.621.43

1.501.932.132.561.82

2.503.123.622.904.33

3.993.603.573.724.06

4.225.165.07

4.064 084.124.124 114.09

4.104.194.244.334.464.77

Taxablebonds4

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

4.214.654.85

4.144 164.154.154 144.14

4.154.194.254.284.344.43

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

4.495.135.51

4.434 414.424.434 444.46

4.484.494.524.564.604.68

Baa

5.90

5.907.629 307.766.32

5.754.775 035.804.96

4.754.334.283.913.61

3.293.053 243.473.42

3.243.413.523.743.51

3.533.884.714.735.05

5.195.085.024.864.83

4.875.676.23

4.804.784.784.804 814.85

4.884.884.914.934.955.02

High-grademunic-

ipalbonds

(Stand-ard &Poor's)

4.27

4.074.014 654.714.03

3.413.073.102.912.76

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

3.273.823.96

3.063.103.183.173.193.26

3.263.253.363.423.473.56

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

0

0)C)

2.12.02.22.62.4

2.22.12.12.52.68

2.693.113.493.693.61

3.704.204.624.34

9 5.00

5.164.975.005.014.99

5.066.00

io 6.00

4.97

4.99

5.00

5.27

Primecom-

cialpaper,

months

5.85

3.592.642 731.731.02

.76

.7594

.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

4.385.555.10

4.254.274.384.384.384.38

4.384.384.384.384.384.65

Fed-eral

ReserveBankdis-

countrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.00

8 1.008 1.008 1.00

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

4.044.504.19

4.004.004.004.004.004.00

4.004.004.004.004.004.42

FHAnew

homemort-gage

yields 5

4.34

4.174.214.294.614.62

4.644.795.425.495.71

6.185.805.615.475.45

5.466.296.55

5.455.455.455.455.455.45

5.445.445.455.465.495.51


272


TABLE B-54.—Bond yields and interest rates, 1929-67— Continued

[Percent per annum]

Year or month



1967: JanFebMarAprMay -June


U.S. Government securities

3-monthTreas-

urybills i

i

i

1.5961.6701.6261.6111.6421.539

1.8551.9325.3565.3875.3445.007

1.7591.5541.2883.8523.6405.480

1.3081.2751.4511.5881.7625.012

9-12monthissues 2

4.834.924.964.874.904.94

5.175.525.805.575.455.10

4.714.644.354.034.094.40

4.985.105.215.325.555.69

3-5year

issues3

4.895.024.944.864.945.01

5.225.585.625.385.435.07

4.714.734.524.464.684.96

5.175.285.405.525.735.72

Taxablebonds4

4.434.614.634.554.574.63

4.754.804.794.704.744.65

4.404.474.454.514.764.86

4.864.954.995.195.445.36

Corporatebonds

(Moody's)

Aaa

4.744.784.924.964.985.07

5.165.315.495.415.355.39

5.205.035.135.115.245.44

5.585.625.655.826.076.19

Baa

5.065.125.325.415.485.58

5.685.836.096.106.136.18

5.975.825.855.835.966.15

6.266.336.406.526.726.93

High-grademunic-

ipalbonds

(Stand-ard &

Poor's)

3.523.633.723.593.683.77

3.944.174.113.973.933.83

3.583.563.603.663.923.99

4.054.034.154.314.364.49

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

5.55

5.82

6.30

6.31

M 6.13

5.95

5.95

5.%

Primecom-mer-cial

paper,

months

4.824.885.215.385.395.51

5.635.855.896.006.006.00

5.735.385.244.834.674.65

4.925.005.005.075.285.56

Fed-eral

ReserveBankdis-

countrate

4.504.504.504.504.504.50

4.504.504.504.504.504.50

4.504.504.504.104.004.00

4.004.004.004.004.184.50

FHAnew

homemort-gage

yields s

5.625.70

6.00

6.32

6.456.516.586.63

6.81

6.776.626.466.356.296.44

6.516.536.606.636.656.77

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

2 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 thereafter.4 First issued in 1941. Series includes bonds which are neither due nor callable before a given number of years as fol-

lows: April 1953 to date, 10 years; April 1952-March 1953,12 years; October 1941-March 1952, 15 years.5 Data for first of the month, based on the maximum permissable interest rate (6 percent beginning October 1966) and,

thru July 1961, 25-year mortgages paid in 12 years and, thereafter, 30-year mortgages paid in 15 years.6 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.7 Not available on same basis as for 1939 and subsequent years.s 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 in 1 year or less.9 Beginning 1959, series revised to exclude loans to nonbank financial institutions.10 Beginning February 1967, series revised to incorporate changes in coverage, in the sample of reporting banks, and

in the reporting period (shifted to the middle month of the quarter).

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 Investors Service, Stand-ard & Poor's Corporation, and Federal Housing Administration.

273


TABLE B-55.—Short- and intermediate-term consumer credit outstanding, 1929-67[Millions of dollars]

End of year or month Total

7,116

6,3515,3154,0263,8854,2185,1906,3756,9486,3707,222

8,3389,1725,9834,9015,1115,6658,384

11,59814,44717,364

21,47122,71227,52031,39332,46438,83042,33444,97045,12951,54256,02857,67863,16470,46178,44287,88494,78699,10087,02786,56587,05988,18489,09290,07090,65091,48391,63991,89992,49894,78693,47992,51792,51993,08993,91794,81395,11595,68495,88696,09496,80299,100

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

14,70315,29419,40323,00523,56828,90631,72033,86733,64239,24542,83243,52748,03454,15860,54868,56574,65677,90068,31468,27968,82769,54370,20971,19471,86272,64072,82973,07373,49174,65674,01573,59873,59173,84074,29075,05175,34875,88976,03976,22376,68077,900

Auto-mobilepaper

1,384

986684356493614992

1,3721,4941,0991,497

2,0712,458

742355397455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13,46014,42015,34014,15216,42017,68817,22319,54022,43325,19528,84330,96131,30028,78928,89429,24829,59729,90830,40230,68030,91830,79330,85230,93730,96130,68930,53030,52730,63530,85231,20831,36431,45531,29631,23731,21731,300

Othercon-

sumergoodspaper

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

10,63011,52511,85712,60513,85615,59317,69319,83421,20017,56617,38617,45017,59717,73217,95918,16518,39018, 56418,71418,94519,83419,64919,42619,36919,37619,44219,58019,60719,75519,91420,04220,34021,200

Repairand

modern-izationloans *

27

2522181537

253364219218298

371376255130119182405718853898

1,0161,0851,3851,6101,6161,6931,9052,1012,3462,8093,1393,1913,2463,4053,5323,6753,7513,7003,6343,6033,5973,6023,6423,6773,7113,7553,7713,7703,7723,7513,7033,6663,6483,6363,6703,6963,7113,7433,7423,7463,7483,700

Per-sonalloans

569

579543464416459572721900927

1,088

1,2451,322

974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,3926,1126,7897,5828,1169,386

10,48011,25612,64314,46416,22818,35420,11021,70018,32518,39618,53218,74718,92719,15619,30619,57719,70119,73719,83720,11019,97419,97620,04720,19320,32620,56720,66620,93621,08721,19821,37521,700

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

6,7687,4188,1178,3888,8969,924

10,61411,10311,48712,29713,19614,15115,13016,30317,89419,31920,13021,20018,71318,28618,23218,64118,88318,87618,78818,84318,81018,82619,00720,13019,46418,91918,92819,24919,62719,76219,76719,79519,84719,87120,12221,200

Chargeac-

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

3,3673,7004,1304,2744,4854,7954,9955,1465,0605,1045,3295,3245,6845,8716,3006,7457,1447,6006,1075,5055,3935,6705,8605,9085,8885,9735,9936,1076,1997,1446,4725,8245,8095,9236,2316,3346,3466,3686,3876,4716,6147,600

Other 2

1,596

1,4961,217

980876913

1,0191,2001,3261,2811,305

1,3531,4421,3731,3251,4181,5912,1362,5222,7292,920

3,4013,7183,9874,1144,4115,1295,6195,9576,4277,1937,8678,8279,446

10,43211,59412,57312,98613,60012,60612,78112,83912,97113,02312,96812,90012,87012,81712,71912,80812,98612,99213,09513,11913,32613,39613,42813,42113,42713,46013,40013,50813,600

Adden-dum:Policy

loans bylife in-surance

com-panies 3

2,379

2,8073,3693,8063,7693,6583,5403,4113,3993,3893,248

3,0912,9192,6832,3732 1341,9621,8941,9372,0572,240

2,4132,5902,7132,9143,1273,2903,5193,8694,1884,6185,2315; 7336,2346,6557,1407,6789,117

7,7287,7757,8627,9648,0628,1748,2768,4358,6588,8498,9869,1369,2509,3419,4449,5379,6159,6959,7359,8089,8759,9339,996

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

195019511952195319541955195619571958195919601961196219631964196519661967*1966: Jan..

Feb.Mar.Apr.May.June.July.Aug.Sept.Oct..Nov_Dec.

1967: Jan..Feb.Mar.Apr.May.June.July.Aug.Sept.Oct..Nov.Dec4

1 Holdings of financial institutions only; holdings of retail outlets are included in "other consumer goods paper."2 Single-payment loans and service credit.3 Year-end figures are annual statement asset values; month-end figures are book value of ledger assets. These loans

are not included in consumer credit series.« Preliminary; December by Council of Economic Advisers.Sources: Board of Governors of the Federal Reserve System and Institute of Life Insurance (except as noted).

274


T A B L E B—56.—Instalment credit extended and repaid, 1946—67


Year or month

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

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

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

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

1965..1966..1967 1

1966: Jan.. .Feb...Mar..Apr...May..June..

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

1967: Jan..Feb..Mar..Apr..May..June-July..Aug..Sept.Oct..Nov..Dec*.

Total

Ex-tended

8,49512,71315,58518,108

21,55823,57629,51431,55831,051

38,97239,86842,01640,11948,052

49,56048,39655,12661,29567,505

75,50878,89681,200

Re-paid

6,78510,19013,28415,514

18,44522,98525,40527,95630,488

33,63437,05439,86840,34442,603

45,97247,70050,62055,17161,121

67,49572,80578,000

Automobile

Ex-tended

1,9693,6925,2176,967

8,5308,956

11,76412,98111,807

1,4432,7494,1235,430

7,0119,058

10,00310,87911,833

16,73415,51516,46514,22617,779

17,65416,00719,79622,29224,435

27,91428,49127,200

Re-paid

13,08214,55515,54515,41515,579

16,38416,47217,47819,40021,676

24,26726,37326,900

Other consumergoods paper

Ex-tended

3,0774,4985,3835,865

7,1507,4859,1869,2279,117

2,6033,6454,6255,060

6,0577,4047,8928,6229,145

10,64211,72111,80711,74713,982

14,47014,57815,68517,10219,473

21,45423,50225,700

Re-paid

9,75210,75611,56911,56312,402

13,57414,24614,93915,85017,737

19,35521,36124,300

Repair and mod-ernization loans

Ex-tended

423704714734

835841

,217,344,261

,393,582,674,871

2,222

2,2132,0682,0512,1982,204

2,2382,1362,100

Re-

200391579

717772917

1,1191,255

1,3161,3701,4771,6261,765

1,8832,0151,9962,0382,078

2,0962,0602,100

Personalloans

Ex-tended

3,0263,8194,2714,542

5,0436,2947,3478,0068,866

10,20311,05112,06912,27514,070

15,22315,74417,59419,70321,393

23,90224,76726,200

Seasonally adjusted

6,5446,4926,6736,5056,4726,675

6,7326,6896,5786,5226,6576,433

6,5016,4976,5106,6066,5546,823

6,7766,9296,9736,9427,0327,075

5,9475,9546,0245,9745,9796,126

6,1686,0876,1036,1426,2136,112

6,2216,2816,2466,3936,3616,531

6,5516,5856,6896,6316,6146,675

2,3402,3402,4792,3022,2982,419

2,3832,4312,3872,3782,4612,297

2,2402,1772,1992,2172,2382,338

2,2662,2852,3222,3212,3052,350

2,1152,1352,2162,1452,1592,211

2,2382,2232,2132,2442,2552,225

2,2022,2172,1932,2352,2192,281

2,2282,2402,2802,3012,2402,250

1,9831,9571,9591,9581,9331,944

2,0501,9951,9581,9411,9471,928

2,0312,0992,0492,0952,0322,081

2,1472,2122,2342,1652,2422,250

1,7781,7811,7081,7291,7841,767

1,8031,7921,7841,8201,8361,796

1,8821,9151,8991,9681,9481,995

2,0742,0792,1062,0932,1052,125

176171183180186189

189187175166166159

157169169170180190

175175166171180175

176174176175172176

174172168169169161

167176170179178184

175171178170177175

2,0452,0242,0522,0652,0552,123

2,1102,0762,0582,0372,0832,049

2,0732,0522,0932,1242,1042,214

2,1882,2572,2512,2852,3052,300

Re-paid

2,5393,4053,9574,335

4,6605,7516,5937,3368,255

9,48410,37311,27611,74112,857

14,13014,96716,20617,88319,630

21,77723,01124,700

1,8781,8641,9241,9251,8641,972

1,9531,9001,9381,9091,9531,930

1,9701,9731,9842,0112,0162,071

2,0742,0952,1252,0672,0922,125

i Preliminary; December by Council of Economic Advisers.

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

275


TABLE B-57.—Mortgage debt outstanding, by type of property and of financing, 1939-67


End of yearor quarter

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

1960196119621963 _1964

19651966 P1967*

1964:1III I I —IV.-- .

1965:1l l _ . . .III.—I V . . . .

1966:l»-_--l | p . _ -l l | p _ . _I V P . . .

1 9 6 7 : | p _ . . .l | p _ _ -l l | p _ _ .I V P . . .

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

206.8226.3248.6274.3300.1

326.3347.3369.1

279.4286.5293.4300.1

305.3312.5319.5326.3

332.3338.8343.5347.3

350.7356.2362.4369.1

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.7

194.0212.4233.4257.4281.2

305.1324.0344.1

262.1268.4274.9281.2

285.9292.3298.8305.1

310.5316.3320.5324.0

327.0332.0337.8344.1

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

141.3153.1166.5182.2197.6

213.7224.1235.9

185.4189.8193.9197.6

200.7205.1209.6213.7

216.9220.2222.4224.1

225.5228.3232.1235.9

Government underwritten

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

73.176.0

66.667.368.469.2

70.170.772.073.1

74.174.675.476.0

76.477.278.3

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

42.044.8

35.736.337.438.3

39.039.740.942.0

43.043.744.444.8

45.245.746.6

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

31.131.2

31.030.931.130.9

31.131.031.131.1

31.130.931.031.2

31.231.531.7

Con-ven-

tional *

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

104.3116.3128.3

140.6148.1

118.8122.5125.4128.3

130.6134.4137.5140.6

142.7145.7147.0148.1

149.0151.1153.8

Multi-family andcommercial properties 2

Total

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

52.759.366.975.383.6

91.499.9

108.1

76.778.781.183.6

85.287.289.391.4

93.796.198.299.9

101.5103.7105.7108.1

Multi-family

5.6

5.75.95.85.85.6

5.76.16.67.58.6

10.111.512.312.913.5

14.314.915.316.818.7

20.323.025.829.033.2

37.039.542.8

29.830.932.133.2

34.034.936.037.0

37.838.539.139.5

40.241.041.842.8

Com-mer-cial

prop-erties

7.0

6.97.06.76.36.2

6.47.79.1

10.210.8

11.512.513.414.516.3

18.320.723.226.129.2

32.436.441.146.250.4

54.460.465.4

46.947.849.050.4

51.152.353.354.4

55.857.659.160.4

61.362.763.965.4

Farmprop-erties

6.6

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

12.813.915.216.818.9

21.223.325.0

17.318.118.518.9

19.520.220.721.2

21.822.523.023.3

23.724.224.625.0

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.Source: Board of Governors of the Federal Reserve System, estimated and compiled from data supplied by various

Government and private organizations.

276


TABLE B-58.--Net public and private debt, 1929-67l


End ofyear 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..1966..19675.

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

890.2947.7

1,016.71,089.51,166.4

1,257.61,344.91,430.3

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

241.0248.1257.5262.4269.4

272.5278.7289.9

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

60.065.073.779.585.2

95.1100.9110.1

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

589.2634.6685.5747.6811.8

890.0965.2

1,030.3

Total

88.9

89.383.580.075.975.5

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

302.8324.3348.2376.1407.7

451.2497.2533.0

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

139.1149.3161.2174.4192.9

211.3232.4261.4

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

163.6175.0187.0201.7214.8

239.9264.8271.6

Private

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

286.4310.3337.3371.5404.1

438.8468.0497.3

Farm3

12.2

11.811.110.19.18.9

8.98.68.69.08.8

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

25.127.530.233.236.0

39.342.145.4

Tnfal1 Old 1

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

261.4282.8307.1338.3368.1

399.5425.9451.9

Nonfarm

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

174.5190.4206.3225.5244.4

263.2278.5294.0

Com-mer-cialand

finan-cial ^

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.8

14.712.111.912.913.9

15.816.217.818.420.8

24.024.424.326.528.7

30.834.837.642.345.4

48.352.658.8

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

56.057.763.270.578.4

87.994.899.1

1 Net public and private debt outstanding is a comprehensive aggregate of the indebtedness of borrowers after elimina-tion of certain types of duplicating governmental and corporate debt. For a further explanation of the concept, see "Surveyof 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 policyholders.5 Estimates.Note.—Revisions for 1929-39 and 1955-57 in the consumer credit data of the Board of Governors of the Federal Reserve

System have not yet been fully incorporated into this series.Sources: Department of Commerce (Office of Business Economics and Bureau of the Census), Treasury Department,

Department of Agriculture, Board of Governors of the Federal Reserve System, and Federal Home Loan Bank Board.

277


GOVERNMENT FINANCE

TABLE B-59.—Federal budget receipts, outlays, financing, and debt, 1958-69

[Millions of dollars; fiscal years]

DescriptionActual

1958 1959 1960 1961 1962 1963

Receipts, expenditures, and net lending: i

Receipt-expenditure account:ReceiptsExpenditures (excludes net lending)

Expenditure deficit ( - )

Loan account:Loan disbursementsLoan repay me nts

Net lending

Total budget:ReceiptsExpenditures and net lending

Budget deficit ( - )

Budget financing: *Borrowing from the publicReduction in cash balances, etc

Total budget financing

Outstanding debt, end of year:l

Gross a mount outstandingHeld by the public

79,61781,177

-1,560

6,5204,9761,544

79,61782,720

-3,103

6,607-3,504

3,103

279,147225,972

79,04889,693

-10,645

7,8595,201

2,659

79,04892,352

-13,304

8,3314,973

13,304

286,666234,303

92,48190,385

2,096

8,3106,427

1,882

92,48192,268

213

1,777-1,990

-213

289,243236,080

94,39396,717

-2,324

7,8696,671

1,198

94,39397,915

-3,522

1,1432,379

3,522

290,991237,223

99,656104,660

-5,004

9,6217,2712,351

99,656107,011

-7,355

9,453-2,098

7,355

301,074246,676

106,578111,465

-4,887

9,6469,791

-145

106,578111,320

-4,742

5,971-1,229

4,742

308,488252,647


278


TABLE B-59.—Federal budget receipts, outlays, financing, and debt, 1958-69—Continued

[Millions of dollars; fiscal years)

DescriptionActual

1964 1965 1966 1967

Estimate

1968

Receipts, expenditures, and net lending:1

Receipt-expenditure account:ReceiptsExpenditures (excludes net lending)..

Expenditure deficit ( - )

Loan account:Loan disbursementsLoan repayments

Net lending

Total budget:ReceiptsExpenditures and net lending

Budget deficit ( - )

Budget financing: *Borrowing from the publicReduction in cash balances, etc

Total, budget financing

Outstanding debt, end of year: *Gross amount outstanding

Held by the public

112,702118,122-5,420

10,2379,693

545

112,702118,667-5,965

2,9782,9875,965

314,377255,625

116,855116,718

137

10,9119,6621,249

116,855117,966-1,111

3,953-2,8421,111

320,806259,578

130,901130.740

161

14,62810,7963,832

130,901134,572-3,671

6,031-2,3603,671

329,473265,609

149,591153,238-3,647

17,78712,6115,176

149,591158,414-8,823

3,5515,2728,823

341,343269,160

155,830169,856-14,026

20,86915,0915,779

155,830175,635-19,805

20,840-1,03519,805

369,993290,000

178,108182,797-4,689

20,37217,1063,265

178,108186,062-7,954

8,000-46

7,954

387,167298,000

i Data represent results of preliminary adjustments to new budget concepts used in the "Budget of the United StatesGovernment for the Fiscal Year Ending June 30,1969" and may be revised later.

Sources: Treasury Department and Bureau of the Budget.

279


TABLE B-60.—Federal budget receipts and outlays, 1958-69


Description

Receipts.

I ndividual income taxesCorporation income taxesEmployment taxesUnemployment insurancePremiums for other insurance and retire-

mentExcise taxesEstate and gift taxesCustomsOther receipts

MEMORANDUM:

(Excluded above; offset against expendi-tures)

Interfund and intergovernmental transac-tions

Proprietary receipts from the public

Expenditures.

National defenseInternational affairs and financeSpace research and technologyAgriculture and agricultural resourcesNatural resourcesCommerce and transportationHousing and community developmentHealth, labor, and welfareEducationVeterans benefits and services..InterestGeneral governmentSpecial allowances —Undistributed adjustments to amounts

above

Net lending.

National defenseI nternational affairs and financeAgriculture and agricultural resourcesNatural resourcesCommerce and transportationHousing and community developmentHealth, labor, and welfareEducationVeterans benefits and servicesGeneral government .-

Total expenditures and net lending.

Actual

1958

79,617

34,72420,0748,6241,924

68210,6381,393

781777

4,119

81,177

44,4612,912

892,5411,2032,922

- 3 615,763

3755,0766,9361,010

- 2 , 0 7 6

1,544

1433472

356

165

165261

- 1 2

82,720

1959

79,048

36,71917,3098,8212,131

76910,5781,333925463

40,71521,49411,2482,668

76811,6761,6061,1051,200

5,330

89,693

46,6672,790

1454,7181,2334,367

3018,019

5505,1837,0701,159

-2,239

2,659

- 1 2418700

671

1,064

180245

- 1 4

92,352

1960

92,481

5,309

90,385

45,8483,310

4012,8931,0844,643

2119,105

6595,0638,2991,332

- 2 , 2 7 2

1,882

- 7- 2 3 5

4571127

1,078

204363

- 1 5

92,268

1961

94,393

41,33820,95512,6792,904

11,8601,896

982913

6,508

96,717

47,5323,242

7442,8771,6264,929

15722,368

7405,3928,1081,508

-2,506

1,198

-41127462187464*

201296

97,915

1962

99,656

45,57120,52312,8353,337

87312,5342,0161,142825

5,654

104,660

51,1794,0341,2573,4911,7365,193160

23,963842

5,3788,3211,653

-2,547

2,351

52864821193490

231248

107,011

1963

106,578

47,58821,57914,7464,112

94413,1942,1671,2061,042

7,099

111,465

52,2754,2792,5524,3981,6075,516

19325,677

9535,6669,2151,799

- 2 , 6 6 6

- 1 4 5

- 6 4- 9 5731

18145

- 1 , 0 1 2

288- 1 4 6

- 1 1

111.320

See Note at end of table.

280


TABLE B-60.—Federal budget receipts and outlays, 1958-69—Continued


Description

Receipts

Individual income taxesCorporation income taxesEmployment taxesUnemployment insurancePremiums for other insurance and retire-

mentExcise taxesEstate and gift taxesCustomsOther receipts

MEMORANDUM:

(Excluded above; offset against expendi-tures)

Interfund and intergovernmental transac-tions

Proprietary receipts from the public

Expenditures-

National defenseInternational affairs and financesSpace research and technologyAgriculture and agricultural resourcesNatural resourcesCommerce and transportationHousing and community developmentHealth, labor, and welfareEducationVeterans benefits and servicesI nte restGeneral governmentSpecial allowancesUndistributed adjustments to amounts

above

Net lending.

National defenseInternational affairs and financeAgriculture and agricultural resourcesNatural resourcesCommerce and transportationHousing and community developmentHealth, labor, and welfareEducationVeterans benefits and servicesGeneral government

Total expenditures and net lending.

Actual

1964

112,702

48,69723,49216,9594,045

1,00613,7312,3941,2521,126

} 6,655

118,122

53,6824,4344,1714,5452,0426,283151

27,2011,1095,5529,8102,072

-2,931

545

-31-28364223139

-3012

225129

118,667

1965

116,855

48,79225,46117,3583,819

1,07914,5702,7161,4421,617

6,761

116,715

49,5864,1965,0914,0322,1407,043116

28,1431,3095,63410,3582,231

-3,164

1,249

- 3-2177716

275-147

192298816

117,966

1966

130,901

55,44630,07320,6623,777

1,12613,0613,0661,7671,923

7,592

130,740

56,7714,3435,9322,7642,1676,789442

33,1942,4495,70711,2852,316

-3,421

3,832

- 110091119193

1,984323762145

134,572

1967

149,591

61,52633,97127,8233,652

1,85313,7192,9781,9012,168

6,5884,948

153,238

70,0954,1105,4243,1562,1137,308578

39,5123,6026,366

12,5482,452

- 4 , 0 2 2

5,176

- 3540

1,22119

1381,708

572445532

2

158,414

Estimate

1968

155,830

67,70031,30029,7303,660

2,04913,8483,1002,0002,443

7,4154,430

169,856

76,4914,3304,8044,4122,4167,695698

46,3964,1576,79813,5352,618

100

-4,591

5,779

- 271689916158

3,25721384370-40

175,635

1969

178,108

80,90034,30034,1543,594

2,27514,6713,4002,0702,744

8,2414,617

182,797

79,7924,4784,5744,4742,4837,9961,428

51,9454,3647,131

14,4002,8271,950

-5,049

3,265

- 4675

1,135

1251,355- 5 3 8

335211

- 3 7

186,062

Note.—New budget concepts in the "Budget of the United States Government for the Fiscal Year Ending June 30,1969,"are used in this table.

Sources: Bureau of the Budget and Treasury Department.

281


T A B L E B-61.—Relation of the receipt-expenditure accounts of the Federal Government to the Federalsector of the national income and product accounts, 1967—69

[Billions of dollars; fiscal years]

Receipts and Expenditures 1967actual

1968estimate

1969estimate

RECEIPTS

Total receipts, budget.

Employer share, employee retirement..Other netting and grossing.Adjustment to accrualsOther

Federal sector, national income and product accounts, receipts..

EXPENDITURES

Total expenditures, budget..

Employer share, employee, retirement._.Other netting and grossingDefense timing adjustment..Lending in the expenditure account...Dollar expenditures to finance agricultural exports.Other

149.6

1.71.1

-4 .8

147.6

153.2

1.71.1

- . 4-1 .4- . 81.6

Federal sector, national income and product accounts, expenditures... 155.1

155.8

1.91.22.2

161.1

169.9

1.91.2.3

-1 .7- . 7

.2

171.1

178.1

2.01.21.1

182.5

182.8

2.01.2.4

-2 .1- . 51.1

185.0

Note.—See Special Analysis B, "Budget of the United States Government for the Fiscal Year Ending June 30, 1969,"for description of these categories.

Sources: Bureau of the Budget and Department of Commerce (Office of Business Economics).

282


T A B L E B-62.—Receipts and expenditures of the Federal sector of the national income andproduct accounts, 1946—69


Year or quarter

Receipts

Total

Per-sonaltaxandnon-taxre-

ceipts

Cor-po-rate

profitstaxac-

cruals

Indi-rect

busi-nesstaxandnon-taxac-cru-als

Con-tribu-tionsfor

socialinsur-ance

Expenditures

Total

Pur-chases

ofgoodsand

serv-ices

Transferpayments

Toper-

Tofor-

eign-ers

(net)

Grants-in-aid

to Stateandlocal

govern-ments

Netin-

ter-est

paid

Subsi-dieslesscur-rentsur-plusof

gov-ern-mententer-prises

Sur-plusor

defi-cit

na-tion-

alin-

comeand

prod-uctac-

counts

Fiscal year:1946. . . .194719481949

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

196019611962196319641965196619671968119691

Calendar year:1946194719481949195019511952 _.1953195419551956195719581959

19601961196219631964196519661967*

Calendar quar-ter:

1965: I . . . .I I . . .I I I . .IV..jif.".".'ML.IV . . .

1967: I . . . .I I . . . .I I I . .IV p.

1966:

38.442.743.640.0

42.060.865.169.365.867.275.880.777.985.494.895.3

104.2110.2115.5120.6132.9147.6161.1182.5

39.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3

106.4114.5115.0124.8143.2151.5

123.4124.9123.4127.6137.0141.6145.6148.6149.1148.1152.7

16.918.820.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.357.564.671.083.8

17.219.619.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.861.766.5

8.310.611.211.011.921.519.319.717.318.721.120.617.821.5

22.320.322.923.525.727.831.031.434.337.2

8.610.711.89.8

17.021.518.519.517.020.620.620.218.022.521.721.822.724.626.429.332.330.7

7.47.97.98.08.29.59.7

10.710.410.010.811.711.611.913.213.314.215.015.616.915.815.917.118.1

7.87.88.08.0'8.99.4

10.310.99.7

10.711.211.811.512.513.513.614.615.316.116.515.916.6

5.85.54.64.85.56.67.37.57.88.7

10.211.712.213.816.718.119.922.123.524.528.635.738.743.4

5.55.14.54.95.97.17.47.48.19.3

10.612.212.414.817.718.220.523.123.825.233.337.7

55.529.550.939.642.444.666.075.874.267.369.876.083.190.991.398.0

106.4111.4116.9118.3131.9155.1171.1185.0

35.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0

102.1110.3113.9118.1123.4142.9164.1

40.113.013.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.764.371.784.592.899.4

17.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.877.089.9

8.38.78.1

11.38.18.59.3

10.512.112.814.417.819.820.623.625L126.427.328.331.737.7

44.949.9

1.82.65.04.33.12.62.11.72.11.81.91.71.8

1.82.12.12.12.22.12.32.1

9.28.87.68.7

10.88.58.89.5

11.512.413.415.719.520.121.524.925.527.027.830.333.740.7

2.21.93.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.22.32.2

0.91.51.82.12.42.42.52.82.93.03.23.74.76.26.86.97.68.49.8

10.912.715.418.020.0

1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1

10.411.214.815.8

3.74.24.24.3

4.44.64.84.85.04.95.15.55.75.97.06.86.87.58.18.59.0

10.110.711.2

4.24.24.34.4

4.54.74.74.95.04.95.35.75.66.47.16.67.27.78.38.79.5

10.4


2.1.7

'.S1.01.31.1.9

1.01.31.72.82.52.42.33.23.83.63.84.14.55.34.64.5

1.6.6.7.8

1.21.31.0.8

1.11.52.42.62.72.12.53.84.03.64.24.35.45.2

-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 .4

2.3.9

- 7 . 5-10.0- 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

- 1 01.4

-12.6

52.954.553.354.657.760.963.165.265.564.067.569.0

28.328.929.030.932.232.232.432.330.330.330.6

17.516.515.716.315.215.916.216.316.216.516.717.0

24.724.925.325.831.932.534.034.737.037.238.038.6

118.9119.9126.6128.0134.8138.4146,3151.9160.9162.8165.9167.5

64.365.467.669.872.174.979.581.587.189.590.992.0

29.228.432.530.932.531.933.736.940.040.341.241.4

2.02.42.22.02.82.32.21.92.22.02.32.1

10.410.711.312.213.814.615.315.615.615.316.016.4

8.68.68.78.99.19.49.6

10.010.410.410.510.7

4.44.34.24.44.65.36.05.95.65.35.04.9

4.54.9

-3 .2- . 42.23.2

- . 7- 3 . 3

-11.9-14.7-13.2

i Estimates.Note.—Includes the transactions of the trust accounts and excludes certain financial transactions. Corporate profits

taxes are included in receipts on an accrual basis; expenditures are timed with the delivery; and CCC guaranteed price-support crop loans financed by banks are counted as expenditures when the loans are made, not when CCC redeems them.

See Table B-61.Sources: Department of Commerce (Office of Business Economics) and Bureau of the Budget.

283


TABLE B-63.—Federal finances under the old concepts, fiscal years 1929-69


Fiscal year

1929 . . . . .

19301931 . .19321933193419351936193719381939 .

1940194119421943194419451946 . . . .194719481949

1950195119521953195419551956195719581959

196019611962196319641965196619671968»1969» . . . . . . . . -

Administrative budget

Netreceipts

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

104,727115,849118,575135,587

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

106,978125,718137,182147,363

Surplus ordeficit ( - )

734

738- 4 6 2

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

- 3 , 9 1 8- 6 , 1 5 9

-21 ,490-57 ,420-51 ,423-53 ,941-20 ,676

7548,419

- 1 , 8 1 1

- 3 , 1 2 23,510

- 4 , 0 1 7- 9 , 4 4 9-3 ,117- 4 , 1 8 0

1,6261,596

- 2 , 8 1 9-12,427

1,224- 3 , 8 5 6- 6 , 3 7 8- 6 , 2 6 6- 8 , 2 2 6- 3 , 4 3 5- 2 , 2 5 1- 9 , 8 6 9

-18,607-11 ,776

Cash receipts from and paymentsto the public

Cashreceipts

47,80050,20043,53743,53145,35741,576

40,94053,39068,01171,49571,62667,83677,08782,10581,89281,660

95,07897,242

101,865109,739115,530119,699134,479153,596158,823181,146

Cashpayments

94,00095,20061,73836,93136,49340,570

43,14745,79767,96276,76971,85870, 53772,54680,00683,47294,752

94,32899, 542

107,662113,751120,332122,395137,818155,142175,981188,725

Excess ofreceipts

or of pay-ments (—)

-46 ,100-45 ,000-18,201

6,6008,8641,006

- 2 , 2 0 77,593

49- 5 , 2 7 4

- 2 3 2- 2 , 7 0 2

4,5422,099

- 1 , 5 8 0-13 ,092

750- 2 , 3 0 0-5 ,797- 4 , 0 1 2-4 ,802-2 ,696-3 ,337- 1 , 5 4 6

-17,157- 7 , 5 7 9

Grosspublic

debt atend of

year andguar-

anteedissues

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, 526317,864320,369326,733351,599363,540

» Estimates.Note.—The old concepts in this table are those used in budgets of the U.S. Government for years prior to fiscal 1969.Sources: Bureau of the Budget and Treasury Department.

284


TABLE B-64.—U.S. Government debt, by kind of obligation, 1929-57{Billions of dollars]

End of year or month

1929193019311932 . . .193319341935 . .193619371938 - . ,-19391940 . . .19411942 -194319441945194619471948 . . - .194919501951195219531954195519561957195819591960 . . .1961196219631964 . . .196519661967 .1966- Jan

FebMar . . . . .AprMayJ u n e . . .-JulyA u g . . . . .S e p tO c t . . . . . . . .NovD e c . .

1 9 6 7 : JanF e b . . . . . . .MarA p r . . . . . .MayJuneJulyAugSeptOct.. . .Nov . . .Dec .

Grosspublic

debt andguar-

anteedissues *

16.316.017.820.824.031.535.139.141.944.447.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7321.4329.8345.2322.4323.7321.5320.1322.8320.4319.8324.9325.2327.4329.9329.8329.4330.1331.5328.3331.4326.7331.2336.4336.4341.0345.6345.2

Interest-bearing public debt

Marketable publicissues

Short-term

issues 2

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 4118.9131.2113.5114.5112.0111 9111.8107.2107.2110.8111.3114.8118 1118.9119.7120.2120 9118.1118.8113.3117.6120.9121 3126.0130.8131.2

Treasurybonds

11.311.313.513.414.715.414.319.520.524.026.9

• 28.033.449.367.991.6

120.4119.3117.9111.4104.894.076 979.877.281.881.980.882.183.484.879.875.578.486.497.0

104 299.295.2

104.2103.2103.1103 1102.0101.9101.9100.6100.5100.599 299.299.199.199 099.097.997.497.497.497.397.395.395.2

Nonmarketablepublic issues

UnitedStatessavingsbonds

0.2.5

1.01.42.23.26.1

15.027.440.448.249.852.155.156.758.057.657.957.757.757.956.352.551.248.247.247.547.548.849.750 350.851.650.350.350.450 450.550.550.650.650.650.750 850.850.850.951.051.151.151.251.351.451.451.551.651.6

Invest-ment

bonds 3

1 61.01.01.0

13.013.412.912.712.311.610.39.07.66.25.14.43.73.42 82.72.62.82.82.82.72.72.72.72.72.72.72.72.72.72.62.62.62.62.62.62.62.62.62.62.6

Specialissues *

0.6.8.4.4.4.6

.62.23.24.25.47.09.0

12.716.320.024.629.031.733.933.735.939.241.242.643.945.645.844.843.544.343.543.443.746.146.352.057.244.445.846.044.948.851.150.753.253.151.952.552.051.351.552.151.655.256.256.258.357.757.257.457.2

1 Total includes non-interest-bearing debt, fully guaranteed securities (except those held by the Treasury), Postal Savingsbonds, prewar bonds, adjusted service bonds, depositary bonds. Armed Forces leave bonds, Rural Electrification Adminis-tration series bonds, foreign series certificates and notes, foreign currency certificates, notes and bonds, Treasury certi-ficates, 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.* Issued to U.S. Government investment accounts. These accounts also held $18.8 billion of public marketable and

nonmarketable issues on December 31, 1967.Note.—See Note, Table B-66.Source: Treasury Department.

284-593 O—68- -19285


TABLE B-65.—Estimated ownership of U.S. Government obligations, 1939-67[Par values,i billions of dollars]

End of year ormonth

Gross public debt and guaranteed issues 2

Total

Heldby U.S.Govern-

mentinvest-mentac-

counts

Heldby

FederalReservebanks

Held by "the public"

TotalCom-

mercialbanks 3

Mutualsavingsbanks

and in-surance

com-panies

Othercorpo-

rations4

Stateandlocal

govern-ments 5

Indi-viduals «

Miscel-laneousinves-tors 7

193919401941194219431944194519461947..19481949

1950195119521953195419551956195719581959

196019611962196319641965. . .1966 .-1967 8

1966: J a n . . .Feb. . .Mar.. .Apr. . .May. .June..July. .Aug...Sept..Oct . . .Nov...Dec.. .

1967: J a n . . .Feb. . .Mar.. .Apr. . .May..June..July...Aug...soec?! : - .Nov...Dec 8..

47.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2

256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7321.4329.8345.2322.4323.7321.5320.1322.8320.4319.8324.9325.2327.4329.9329.8329.4330.1331.5328.3331.4326.7331.2336.4336.4341.0345.6345.2

6.57.69.5

12.216.921.727.030.934.437.339.439.242.345.948.349.651.754.055.254.453.7

55.154.555.658.060.661.968.876.0

60.061.761.760.564.566.766.469.369.268.068.968.868.269.670.770.474.675.875.577.276.475.976.276.0

2.52.22.36.2

11.518.824.323.322.623.318.920.823.824.725.924.924.824.924.226.326.627.428.930.833.637.040.844.349.1

40.640.240.740.741.542.242.442.542.943.043.944.343.544.044.945.546.146.746.846.646.947.448.949.1

38.641.152.594.0

141.6191.6227.4205.2200.1192.2198.9

196.8193.4196.9201.0204.2204.3197.8195.5202.3210.6207.9213.1217.6218.5221.1218.7216.8220.1221.9221.9219.2218.9216.8211.5211.0213.1213.2216.4217.1216.8217.6216.6215.9212.4210.8204.2208.9212.6213.1217.7220.5220.1

15.917.321.441.159.977.790.874.568.762.566.8

61.861.663.463.769.262.059.559.567.560.362.167.267.264.364.060.857.563.760.958.757.057.055.154.853.855.054.855.355.557.557.857.458.157.256.455.558.360.261.163.663.563.7

9.410.111.915.821.228.034.736.735.932.731.5

29.626.325.525.124.123.121.320.219.919.5

18.117.517.617.116.815.814.312.915.915.815.715.415.214.814.714.614.614.414.414.314.013.913.713.313.?12.912.913.013.012.912.912.9

2.22.04.0

10.116.421.422.215.314.114.816.8

19.720.719.921.519.123.218.717.718.121.4

18.718.518.618.718.215.814.913.016.617.615.915.916.414.214.314.513.814.916.014.914.714.714.112.913.611.111.912.410.711.813.213.0

0.4.5.7

1.02.14.36.56.37.37.98.1

9.611.112.714.415.416.316.616.518.0

18.719.020.121.121.222.925.024.323.724.724.425.125.324.525.125.025.225.225.125.024.825.025.125.225.125.024.725.124.924.624.524.3

10.110.613.623.737.653.364.164.265.765.566.3

66.364.665.264.863.565.065.964.963.769.4

66.165.966.068.269.872.174.673.973.173.474.574.173.973.173.473.974.775.475.374.6

74.974.674.072.771.970.970.871.472.573.073.673.9

0.7.7.9

2.34.47.09.18.18.48.99.4

10.510.611.713.213.915.616.116.616.622.1

24.225.028.029.231.231.430.532.331.831.731.531.330.830.029.730.030.131.130.730.531.431.030.931.130.528.830.330.530.931.832.832.3

1 United States savings bonds, series A-F and J, are included at current redemption value.2 Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutory debt limitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and Territories and island

possessions; figures excjude securities held in trust departments. Since the estimates in this table are on the basis of parvalues and include holdings of banks in United States Territories and possessions, they do not agree with the estimatesin Table B-51, which are based on book values and relate only to banks within the United States.

4 Exclusive of banks and insurance companies.8 Includes trust, sinking, and investment funds of State and local governments and their agencies, and of Territories

and possessions.8 Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers,

and investments of foreign balances and international accounts in this country. Beginning with December 1946, the in-ternational accounts include investments by the International Bank for Reconstruction and Development, the InternationalMonetary Fund, the International Development Association, the Inter-American Development Bank, and various UnitedNations' funds, in special non-interest-bearing notes and bonds issued by the U.S. Government. Beginning with June 30,1947, includes holdings of Federal land banks.

8 Preliminary estimates by Council of Economic Advisers.Note.-See Note, Table B-€6.Source: Treasury Department (except as noted).

286


TABLE B—66.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-67

End of year or monthAmount

out-standing

Maturity class

Within1 year

1 to 5years

5 to 10years

10 to 20years

20 yearsAverage length

Millions of dollars Years

Fiscal year:1946—1947...1948...1949—

1950—1951—1952...1953—1954...

1955...1956—1957—1958...1959...

I960—1961—1962...1963...1964...

1965...1966—1967...

1966:Jan..Feb..Mar..

May"June.

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

1967: Jan..Feb..Mar.Apr..May.June.

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

189,606168,702160,346155,147

155,310137,917140,407147,335150,354

155,206154,953155,705166,675178, 027

183,845187,148196,072203, 508206,489

208,695209,127210,672

217,656217,690215,150215,004213,764209,127

209,108211,402211,771215,313217,239218,025

218,796219,245219,914217,127216,650210,672

214,968218,258218,637223,271226,081226,476

61,97451,21148,74248,130

42,33843,90846,36765,27062,734

49,70358,71471,95267,78272,958

70,46781,12088,44285,29481,424

87,63789,13689,648

96,46194,22691,70491,82092,23189,136

89,13892,23892,64296,656104,398105,218

106,021101, 549102,24299,67095, 52489,648

93,95795,04095, 442100,208102,158104,363

24,76321,85121,63032, 562

51,29246,52647,81436,16129,866

39,10734,40140,66942, 55758,304

72,84458,40057,04158,02665,453

56,19860,93371,424

60,60862,89364,30664,07662,45360,933

60,93262,95762,95262.49559,45959,447

59,43466,71766,72266,54170,23871,424

71,43376,24478,19878,08877,32078,159

41,80735, 56232,26416,746

7,7928,70713,93315,65127,515

34,25328,90812,32821,47617,052

20,24626,43526,04937,38534,929

39,16933,59624,398

35,01335,00833,60733,60333,60033,596

33,59230,78330,77430,77128,00828,005

28,00225,65525,65025,64525,64124,378

24,37621,79319, 84019,83721,48718,859

17,46118, 59716,22922,821

28,03529,97925,70028,66228,634

28,61328,57826,40727,65221,625

12,63010,2339,3198,3608,355

8,4498,4398,425

8,4448,4438,4428,4418,4408,439

8,4398,4378,4368,4358,4348,433

8,4328,4318,4308,4288,4268,425

8,4238,4228,4218,4198,4188,417

43,59941,48141,48134,888

25,8538,7976,5941,5921,606

3,5304,3514,3497,208

7,65810,96015,22114,44416,328

17,24117,02316,797

17,13117,12017,09217,06517,04017,023

17,00716,98716,96716,95716,94016,923

16,90816,89316,87016,84316,81916,797

16,78016,75816,73716,71916,69716,679

Months

104937

1110

4117

101111101111

101110

Note.—All issues classified to final maturity except partially tax-exempt bonds, which were classified to earliest calldate (the last of these bonds were called on August 14,1962, for redemption on December 15,1962).

The concept of the public debt in this table is that used in budgets of the U.S. Government for years prior to fiscal 1969.Detail for the new concept are not yet available.

Source: Treasury Department.

287


T A B L E B-67.—Receipts and expenditures of the government sector of the national income and productaccounts, 1929-67


Calendar year or quarter

19291930193119321933 . . .19341935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965.19661967 v

1965: 1IIIII . . . .IV

1966: 1

IllIV

1967: 1IIIII . . . .IV v

Total government

Re-ceipts

11.310.89.58.99.3

10.511.412.915.415.015.417.725.032.649.251.253.250.956.858.956.068.784.889.894.389.7

100.4109.0115.6114.7128.9139.8144.6157.0168.8174.1188.8213.0227.3

Ex-pendi-tures

10.311.112.410.610.712.913.416.115.016.817.618.428.864.093.3

103.092.745.542.450.359.160.879.093.7

101.296.797.6

104.1114.9127.2131.0136.1149.0159.9166.9175.4186.1209.8240.0

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

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 . 27.85.8

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

2.74.9

-12.'5- 2 . 1

3.7- 4 . 3- 2 . 9

1.8- 1 . 4

2.73.2

-12.7

Federal Government *

Re-ceipts

3.83.02.01.72.73.54.05.07.06.56.78.6

15.422.939.341.042.539.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3

106.4114.5115.0124.8143.2151.5

Ex-pendi-tures

2.62.84.23.24.06.46.58.77.48.68.9

10.020.556.185.895.584.635.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0

102.1110.3113.9118.1123.4142.9164.1

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

1.2.3

- 2 . 1

- L 3- 2 . 9- 2 . 6- 3 . 6

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

-33 .1-46.6-54 .5-42.1

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

L4

-12.'6

State and localgovernment

Re-ceipts

7.67.87.77.37.28.69.18.69.19.39.6

10.010.410.610.911.111.612.915.317.619.321.123.325.227.228.831.434.738.241.646.049.953.658.663.469.575.184.791.6

Ex-pendi-tures

7.88.48.57.67.28.18.68.18.49.09.69.39.18.88.48.59.0

11.014.317.420.022.323.725.327.029.932.735.639.544.046.849.654.157.662.267.873.981.891.7

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

- 0 . 2- . 6- . 8

-A

.5

.4

.61.31.82.52.72.61.91.0.1

- . 7- 1 . 2- . 4

j

- 1 . 1- 1 . 3- . 9

- 1 . 4- 2 . 3- . 8

.2- . 5

1.21.71.22.9

- . 1Seasonally adjusted annual rates

185.4188.3188.3193.2204.3210.6216.3220.9222.8223.2229.3

179.8182.0190.0192.6199.8204.4213.7221.2233.6238.1242.6246.2

5.66.3

- 1 . 7.6

4.56.22.6

- . 3-10 .8-14.9-13 .3

123.4124.9123.4127.6137.0141.6145.6148.6149.1148.1152.7

118.9119.9126.6128.0134.8138.4146.3151.9160.9162.8165.9167.5

4.54.9

- 3 . 2- . 42.23.2

- 1 3-11 .9-14.7-13 .2

72 474.176.277.881.183.686.087.989.390.492.6

71.372.874.776.878.880.682.784.988.390.692.795.1

1.21.21.51.12.42.93.33.01.0

- . 1

1 See Note, Table B^62.2 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 adjusted to eliminate this duplication.Source: Department of Commerce, Office of Business Economics.

288


TABLE B-68.—State and local government revenues and expenditures, selected fiscal years 1927—66[Millions of dollars]

Fiscal yearl

1927

1932193419361938

19401942194419461948

1950195219531954

19551956195719581959

1960196119621963

1962-63 5.1963-64 5.1964-65 s.1965-66 s.

General revenues by source -

Total

7,271

7,2677,6788,3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729, 012

31,07334,66738,16441,21945,306

50,50554,03758,25262,890

62,26968,44374,00083,036

Prop-ertytaxes

4,

4,4,4,4

4444

730

487076093440

430537604986

6,126

7 3498,65299

1011121414

16

375967

735749864047983

40518,00219 05420,089

19212224

833241583670

Salesandgross

ceiptstaxes

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,6919,4679,82910,437

11,84912,46313,49414,456

14,44615,76217,11819,085

Indi-vidualincometaxes

70

153218

224276342422543

788998

1,0651,127

1,2371,5381,7541,7591,994

2,4632,6133,0373,269

3,2673,7914,0904,760

Corpo-ration

netincometaxes

Reve-nue

fromFederalGovern-

ment

92

7949

113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,2661,3081,505

1,5051,6951,9292,038

116

2321,016948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8434,8656,377

6,9547,1317,8718,722

8,66310,00211,02913,120

Allotherreve-nue s

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

General expenditures by function -

Total

7,210

7,7657,1817,6448,757

9,2299,1908,863

11,02817,684

22,78726,09827,91030,701

7,584 33,7248,465 36,7119,252 40,3759,699 44,851

10,516 48,887

11,63412,56313,48914,850

14,55515,95217,25119,363

51,87656,20160,20664,816

63,97769,30274,54682,843

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

18,71920,57422,21623,776

23,72926,28628,56333,287

High-ways

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,8168,5679,592

9,4289,84410,35711,136

11,15011,66412,22112,770

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

5,4205,7666,3156,757

Allotheri

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710,34210,61911,557

12,19713,39914,94016,54717,876

19,32421,06322,54924,423

23,67825,58627,44730,029

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

urban renewal, local parks and recreation, general control, financial administration, interest on general debt, and otherunallocable expenditures.

s Data for fiscal year ending in the 12-month period through June 30. Data for 1963 and earlier years include local govern-ment amounts grouped in terms of fiscal years ended during the particular calendar year.

Note.—Data are not available for intervening years.See Table B-58 for net debt of State and local governments.


289


CORPORATE PROFITS AND FINANCET A B L E B—69.—Profits before and after taxes, all private corporations, 1929—67


Year orquarter

Corporate

Allin-

dus-tries

10.57.02.0

- 1 . 3- 1 . 2

1.73.45.66.84.96.39.8

15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.749.950.355.758.966.374.982.279.1

profits (before taxes)inventory valuation adjustment

Manufacturing

Total

5.23.91.3

- . 5- . 41.12.13.23.82.33.35.59.5

11.813.813.29.79.0

13.617.616.220.924.621.622.019.926.024.724.019.326.324.423.326.628.832.738.743.139.0

Dur-able

goodsin-

dus-tries

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

13.612.011.414.115.817.822.224.421.0

Non-dur-able

goodsin-

dus*tries

2.62.41.3.5*

.81.11.52.11.61.72.43.14.65.75.95.26.67.8

10.08.18.9

11.49.9

10.19.4

11.811.910.710.012.712.411.912.513.014.916.518.718.0

Trans-porta-tion,com-muni-cation,

andpublic

utilities

1.81.2.5.2

.4

.4

.7

.8

.51.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85.97.07.57.98.59.5

10.111.211.912.0

and

Allother

in-dus-tries

3.41.9.2

- . 9- . 8

.3

.91.72.22.12.03.03.75.16.26.76.78.59.9

12.511.612.713.513.312.613.415.215.615.815.918.417.919.120.520.623.525.027.228.1

Cor-po-rateprof-itsbe-fore

taxes

10.03.7

- . 4- 2 . 3

1.02.33.66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.149.750.355.459.466.876.683.880.1

Cor-po-ratetaxlia-bil-ity i

1.4.8.5.4.5.7

1.01.41.51.01.42.87.6

11.414.112.910.79.1

11.312.510.417.822.319.420.317.721.621.721.219.023.723.023.124.226.328.331.434.533.0

Corporate profitsafter taxes

Total

8.62.9

- . 9-2 .7

.41.62.64.95.32.95.67.2

10.110.111.111.29.0

15.520.222.718.524.921.619.620.420.627.027.226.022.328.526.727.231.233.138.445.249.347.2

Divi-dendpay-

ments

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

10.511.311.711.612.613.413.815.216.517.819.821.522.8

Un-dis-trib-utedprof-its

2.8- 2 . 6- 4 . 9- 5 . 2- 1 . 6- 1 . 0- . 2

.4

.6- . 21.83.25.75.96.66.54.49.9

13.915.611.316.013.011.011.511.316.515.914.210.815.913.213.516.016.620.625.427.824.4

Corpo-rate

capitalcon-

sump-tion

allow-ances 2

4.24.34.34.03.83.63.63.63.63.73.73.84.25.05.46.16.44.75.87.07.98.8

10.311.513.215.017.418.920.822.023.524.926.230.131.833.936.539.041.4

Profitsplus

capitalcon-

sump-tion

allow-ances 3

1929.1930.1931.1932.1933.1934.1935.19361937.1938.1939.1940.1941.1942.1943.1944.1945.1946.1947.1948.1949.1950.1951.1952.1953.1954.1955.1956.1957.1958-1959.1960.1961-1962-1963-1964.1965.1966.1967

1965: I.

IV.


1966: I . . . .II...-IllIV...

1967: L . . .II.—III

72.673.474.978.781.181.381.984.678.178.379.2

37.537.738.641.042.742.542.744.439.638.938.2

21.621.622.123.724.324.023.925.321.121.120.5

15.916.016.517.418.318.518.819.218.417.817.7

10.610.911.212.011.712.011.812.011.711.912.1

24.524.825.225.626.726.827.328.226.927.528.9

74.075.675.880.883.783.684.083.979.078.980.0

30.330.931.133.134.534.534.634.632.532.532.9

43.744.644.847.749.249.249.449.346.546.547.1

18.719.420.220.921.421.621.621.222.223.123.422.4

25.025.224.626.827.827.627.828.224.223.423.6

35.236.036.937.838.338.739.239.840.340.941.842.5

12.87.23.51.34.25.26.38.58.96.69.3

11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844.352.051.653.561.364.872.381.788.388.6

78.980.681.785.587.587.988.689.186.787.488.8

1 Federal and State corporate income and excess profits taxes.2 Includes depreciation and accidental damages.s Corporate profits after taxes plus corporate capital consumption allowances.Note.—Beginning 1962 data reflect the new depreciation guidelines issued by the Treasury Department July 11,1962,

and the investment tax credit provided in the Revenue Act of 1962.Source: Department of Commerce, Office of Business Economics.

290


TABLE B-70.—Sales, profits, and stockholders' equity, all manufacturing corporations (exceptnewspapers), 1947-67


Year orquarter

194719481949

19501951195219531954..

1955....1956195719581959

19601961196219631964

1965

1966

1965: IIIIII.—IV....

1966: IIIIII....IV

1967: I

11....

Sales(net)

150.7165.6154.9

181.9245.0250.2265.9248.5

278.4307.3320.0305.3338.0

345.7356.4389.9412.7443.1

492.2554.2

114.9124.0121.5131.9

129.9141.0137.8145.5

137.0145.1141.5

All manufacturingcorporations

Profits

Beforetaxes

16.618.414.4

23.227.422.924.420.9

28.629.828.222.729.7

27.527.531.934.939.6

46.551.8

10.712.311.012.5

12.414.012.313.1

11.412.611.0

Aftertaxes

10.111.59.0

12.911.910.711.311.2

15.116.215.412.716.3

15.215.317.719.523.2

27.530.9

6.27.26.67.5

7.28.47.47.9

6.77.66.7

Stock-holders'equity *

65.172.277.6

83.398.3

103.7108.2113.1

120.1131.6141.1147.4157.1

165.4172.6181.4189.7199.8

211.7230.3

205.4209.7213.6218.1

222.4228.6233.4236.8

240.9245.6249.7

Durable goods industries

Sales(net)

66.675.370.3

86.8116.8122.0137.9122.8

142.1159.5166.0148.6169.4

173.9175.2195.5209.0226.3

257.0291.7

60.066.062.069.0

68.075.471.177.3

71.177.072.6

Profits

Beforetaxes

7.68.97.5

12.915.412.914.011.4

16.516.515.811.415.8

14.013.616.718.521.2

26.229.2

6.17.25.87.1

7.08.26.57.5

6.27.25.4

Aftertaxes

4.55.44.5

6.76.15.55.85.6

8.18.37.95.88.1

7.06.98.69.5

11.6

14.516.4

3.34.03.34.0

3.84.63.74.2

3.44.13.1

Stock-holders'equity i

31.134.137.0

39.947.249.852.454.9

58.865.270.572.877.9

82.384.989.193.398.5

105.4115.2

102.2104.6106.4108.2

110.0114.2117.1119.3

121.6123.7126.0

Nondurable goodsindustries

Sales(net)

84.190.484.6

95.1128.1128.0128.0125.7

136.3147.8154.1156.7168.5

171.8181.2194.4203.6216.8

235.2262.4

54.958.059.462.9

61.965.666.768.2

65.968.268.9

Profits

Beforetaxes

9.09.57.0

10.312.110.010.49.6

12.113.212.411.313.9

13.513.915.116.418.3

20.322.6

4.65.15.25.4

5.45.85.85.6

5.25.45.6

Aftertaxes

5.66.24.6

6.15.75.25.55.6

7.07.87.56.98.3

8.28.59.2

10.011.6

13.014.6

2.93.23.33.5

3.43.73.73.7

3.33.53.6

Stock-holders'equity *

34.038.140.6

43.551.153.955.758.2

61.366.470.674.679.2

83.187.792.396.3

101.3

106.3115.1

103.2105.1107.2109.9

112.4114.3116.3117.5

119.3121.8123.6

1 Annual data are average equity for the year (using four end-of-quarter figures).Note.—For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for Manufacturing

Corporations," Federal Trade Commission and Securities and Exchange Commission.Data are not necessarily comparable frr :-J x "— J— x- -L :-

classifications, sampling procedures, etc.:visions is contained in the following issuefirst quarter 1959, and first quarter 1965.

Comparability for certain industries was affected by changes noted in the following reports: fourth quarter 1952, firstquarter 1955, second quarter 1960, third quarter 1960, fourth quarter 1965, and second quarter 1966.

Sources: Federal Trade Commission and Securities and Exchange Commission.

291


TABLE B—71.—Relation of profits after taxes to stockholders' equity and to sales, all manufac-turing corporations (except newspapers), by industry group, 1947—67

Year orquarter

194719481949

1950195119521953195419551956195719581959

196019611962196319641965 . . .1966

1966:1IIIIIIV

1967:1IIIll

194719481949

19501951. .1952195319541955 .1956195719581959

1960196119621963196419651966 .

1966: 1III I I . . -IV

1967: 1III I I . . -

Allman-ufac-tur-ing

cor-pora-tions(ex-cept

news-pap-ers)

15.616.011.6

15.412.110.310.59.9

12.612.310.98.6

10.4

9.28.99 8

10.311.613.013.4

13.014.712.713.4

11.212.410.8

6.77.05.8

7.14.84 34 34.55.45.34.84.24.84.44.34.54.75.25.65.65.65.95.45.54.95.24.7

Totaldur-able i

Mo-tor

vehi-clesand

equip-ment

Air-craftand

parts

Elec-tricalma-

chin-ery,

equip-ment,and

sup-plies

t

MaIYI3-rhincnin-ery

(ex-ceptelec-

trical)

)urable goods industries

Fab-ri-

catedmetalprod-ucts

Pri-maryironandsteel

in-dus-tries

Drirri-

marynon-farrer-rous

metalinin-

dus-tries

Stone,clay,and

glassprod-ucts

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

14.415.712.1

16 913.011.111.110.313.812.811.38.0

10.4

8 58.19.6

10.111.713.814.2

14.016.212.614.1

11.213.29.8

6.77.16.4

7.75.34 54 24.65.75.24.83.94.84.03.94.44.55.15.75.65.66.25.25.44.85.34.3

16.419.922.1

25 314.313.913.914.121.713.114.28.2

14.5

13.511.416.316.716.919.515.9

20.619.75.5

17.812.516.43.8

6.06.97.9

8.34.74 73.95.16.95.25.44.06.35.95.56.96.97.07.26.27.37.12.86.45.36.31.9

17.713 28.1

7 39.8

12.711 312.215.214.4

14.615.912.714.4

11 712.512.4

~~2.~9~2.41.61.41.82.42.32.63.33.03.13.22.72.92.62.52.6

19.016.113.6

20 914.013.713.112.412.311.412.510 212.5

9 58.9

10.010 111.213.514.8

14.315.514.614.6

12 212.811.9

15.716.311.6

14 113.011.39.88.6

10.312.610.76 99.7

7 57.89.19 6

12.514.115.0

14.417.014.814.0

12 315.212.2

17.617.010.4

16 013.410.19.87.6

10.010.79.37 38.0

5 65.97.98 3

10.113.214.7

13.916.615.612.8

12 714.211.7

12.014.710.0

14 312^38.5

10.78.1

13.512.711.47 28.0

7 26 15.47 08 89 8

10.2

9.112.29.7

10.0

7 97.96.0

12.414.28.1

15 113.811.611.110.415.516.49.36 07.9

7 l7.17.57 69.8

11.914.8

14.016.213.615.2

13 712.87.8

14.015.013.1

17 714.211.711.812.515.614.912.410 212.7

9 98.98.98 79 6

10.39.9

5.912.912.38.4

3 39.4

10.4

Profits after taxes per dollar of sales—cents

6 35.95.7

7 25.04 54 14.54.43.84.23.84.43.53.53.73.84.24.84.84.85.14.94.64.24.44.2

7 27.36.4

7.35.54 84 24.45.15.44.83.74.83.94.14.54.75.86.26.46.36.96.45.95.76.35.5

7.47.15.1

6 85.04.03 63.13.84.03.63.13.22.42.53.13.23.74.54.94.85.35.14.24.64.94.2

6 67.66.5

7 95.84 75 35 37.26.76.65.45.45.14.63.94.85.65.75.85.46.45.45.84.84.83.9

8.99.06.9

10.27.86 76 36.68.39.36.64.75.85.45.35.55.36.57.38.28.08.57.78.48.17.75.3

7.98.68.6

10.17.16 66 57.48.68.27.56.87.96.65.85.65.35.65.95.63.96.86.54.92.35.45.7

Furrur-

nitureandfjyTIX-

tures

Lum-berand

woodprod-ucts(ex-cept

furni-ture)

In-stru-mentsandre-

latedprod-ucts

equity—percent 2

18.015.98.1

15 211.38.68.26.09.2

11.68.56.38.9

6 54.97.98.3

10.113.414.2

12.415.914.514.1

10.612.012.4

6.05.53.3

5.13.42.72.62.12.93.42.62.02.72.11.62.32.42.93.73.93.64.23.93.73.23.53.6

22.919.29.1

17 511.98.57.16.3

11.18.74.75 79.4

3 64.15.68 29.9

10.110.0

8.114.611.26.2

5 58.6

10.5

11.49.95.9

9.45.54.13.53.45.43.92.32.84.21.71.92.53.33.94.03.83.35.24.12.52.43.44.0

14.414.012.1

16 713.211.611.412.312.512.412.010.613.1

11.610.612.012.114.417.520.9

17.620.522.023.2

15 716.918.7

7.77.87.1

8.66.14.84.65.56.05.85.75.46.55.95.45.96.07.28.69.58.59.3

10.19.98.07.98.8

Mis-cella-neousman-ufac-tur-ing

(in-clud-

ingord-

nance)

14.012.27.2

12 39.77.08.27.58.5

11.67.78.29.3

9.29.99 48.89.5

10.715.4

12.213.415.719.6

12.812.513.2

6.35.63.6

5.63.72.72.92.83.13.62.53.03.53.53.63.43.33.63.84.94.24.35.15.74.24.14.2


292


TABLE B-71.—Relation of profits after taxes to stockholders* equity and to sales, all manufac-turing corporations {except newspapers), by industry group, 1947—67—Continued

Year orquarter

19471948.1949195019511952. .1953195419551956195719581959.1960.1961196219631964196519661966: I . . . . .

I I . . . .III . . .IV... .

1967: 1I I . . . .III . . .

1947.194819491950195119521953..19541955. .19561957.. .19581959.. .19601961..19621963.19641965. .19661966: 1

I I . . . .III. . .IV. . .

1967: 1II . . . .III . . .

Nondurable goods industries

Totalnon-dur-

able^

16.616.211.214.111 29.79.99 6

11.411.810 69 2

10.49.89.69 9

10.411.512.212.712.113.112.812.711.211.611.7

6.76.85.46.54.54.14.34.45.15.34.94.44.94 84.74.74.95.45.55.65.55.75.65.55.15.25.2

Foodandkin-dredprod-ucts

To-baccoman-ufac-tures

Tex-tilemill

prod-ucts

Ap-pareland

relatedprod-ucts

Paperand

alliedprod-ucts

Print-ingandpub-lish-ing

(ex-cept

news-pa-

pers)

Chem-icalsand

alliedprod-

ucts

Ratio of profits after Federal taxes (annual rate) to stockholders

17 612.811.812.38 17 68.18 18 99.38 78 79 38 78.98 89 0

10 010.711 210.011.212.311.19.4

10.311.7

4.23.33.33.42 01.92.02 12.32.42.22 22.42 32.32 32.42.72.72.72.62.82.92.62.32.52.8

10 113 612.611.59 58 49.4

10 211 411 712 513 513 413 413 613 113 413 413.514 112.114.815.314.012.114.715.8

4 15.25.14.93 83.23.74 24.85.05.25 45.45 55.75 75.95.95 95.95.46.26.35.85.15.86.4

19 518 77.6

12.78 24 24.61 85 75 84 23 57 55 85 06 26 18 5

10 910 19.4

10.910.49.55.97.17.8

18 912.17.5

10.12 94 45.14 56 18 16 34 98 67 77 29 37 7

11 712 713 311.013.814.613.69.68.6

14.4

22 016 410.716.213 910 510.19 9

11 511 68 98 19 58 57.98 18 19 39 4

10 610.211.310.011.09.09.58.6

17 214 711.411.510 39 19.49 2

10 213 011 79 0

11 410 68 5

10 39 2

12 614 215 615.015.616.415.312.113.514.1

15 915 813.217.812 210 910.711 614 714 213 311 413 712 211.812 412 914 415.215 115.216.614.713.913.013.712.2

Profits after taxes per dollar of sales—cents

8 28 34.15.83 41 92 21 02 62.61 91 63 02 52 12 42.33.13.83.63.43.93.73.42.42.72.9

4 63 12.12.8

61.01.21 i1.31.61 31 01.51 41.31 61.42.12.32.42.12.52.52.41.81.72.8

10 78 56.58.86 65 75 45 66 16.15.04 75.25 04.74 64.55.14.95.45.35.65.05.44.84.94.5

6 15.24.54.53 73.33 43 43.64.23.73 14.03 62.83 43.24.34.85.15.15.15.54.94.34.64.9

8 88.88.2

10.36 56.16.16 88.38.07.67 07.97 57.37 47.57.97.97.88.08.27.67.46.97.06.5

Petro-leumrefin-

ing

Rub-berandmis-

cella-neousplasticprod-ucts

' equity—percent 2

15 213 313.412 713 413.912 510 09 8

10 110.310 111 311 411.812 412.212.212.113.212.612.312.1

ii i10.110.410 611.111.610.69.59.59.9

10.39.7

10.810.911.111.211.111.011.211.411.210.910.7

12.412.38.7

16.914 811.111.310 613 212.211 19 1

11 09.19.39 69 2

10.611.712 211.013.311.912.59.39.09.2

4.44.73.85.84.53.63.84.04.44.44.23.54.03.63.83.73.64.14.34.44.04.64.44.53.73.43.6

Leatherand

leatherprod-ucts

14.010.46.2

10.92 15.86.05 98.57.27 05.78.56.34.46.96.9

10.511.612.913.212.712.613.112.87.9

12.1

4.33.32.23.7

.61.81.81.92.52.12.01.72.21.61.11.81.82.62.83.03.13.C3.C3.03.22.13.0

1 Includes certain industries not shown separately.2 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity

at end of quarter only.Note.—Ratios based on data in millions of dollars.For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for Manufacturing Cor-

porations," Federal Trade Commission and Securities and Exchange Commission. See also Note, Table B-70.

Sources: Federal Trade Commission and Securities and Exchange Commission.

293


TABLE B—72.—Sources and uses ojfunds, nonfarm nonfinancial corporate business, 1956-67[Billions of dollars]

Source or use of funds 1956

47.2

28.9

13.2

-2.7

18.4

18.3

2.33.6.44.4*

5.7-2.03.9

43.2

35.9

30.7

4.9

7.2

-4.2

.1*

-4.5.1

.47.53.4

-4.1

1957

42.0

30.6

11.8

-1.5

20.3

11.4

2.46.3.41.1

'.5-2.12.2

40.0

34.7

33.4

.6

5.3

-.1

**

-.4.3

.22.62.5

-1.9

1958

42.2

29.5

8.3

-.3

21.4

12.7

2.15.71.2-.6

4*. 3-2.62.4

42.1

27.3

28.41.4

-2.5

14.8

2.5

1.5.9

*.1

7.93.4

-.1

1959

55.5

35.0

12.6

-.5

22.9

20.5

2.23.01.23.0.34.92.43.6

54.4

36.9

31.11.7

4.1

17.4

5.6

-1.0-.4

6.6.4

.87.23.3

-1.1

1960

47.3

34.4

10.0

.2

24.2

12.9

1.63.5.71.31.03.1

-2.24.0

45.2

39.2

34.91.3

3.0

6.1

-3.9

-.51.3

-5.4.7

.26.33.7

-2.0

1961

54.7

35.6

10.2

-.1

25.4

19.1

2.54.61.8.1

6*. 61.21.9

55.0

37.0

33.22.2

1.5

18.0

3.5

1.71.9

-.2.1

.110.04.6

.3

1962

63.3

41.8

12.4

.3

29.2

21.5

.64.62.92.5.74.41.14.7

61.7

44.7

37.03.0

4.7

16.9

4.1

-.93.7

.5

.9

.98.24.1

-1.6

1963

65.9

43.9

13.6

-.5

30.8

22.0

~3.93.52.9.56.01.54.0

65.8

46.7

38.63.7

4.3

19.1

4.3

-.83.9

.5

.7

8'. 54.8

-.1

1964

70.2

50.5

18.3

-.5

32.8

19.7

1.44.03.33.61.33.4.91.8

66.9

53.5

44.03.6

5.9

13.4

.6

-2.53.2

-1.41.4

1.09.12.5

-3.3

1965

88.5

55.7

22.1

-1.7

35.3

32.7

*5.43.29.31.37.32.04.2

88.0

63.6

52.23.7

7.7

24.4

.7

-1.93.9

-2.1.8

1.213.78.2

-.5

1966

97.7

60.3

24.2

-1.6

37.7

37.4

1.210.22.17.62.17.7-.46.8

94.9

75.4

60.42.7

12.3

19.5

1.1

.7-.7

-1.22.3

1.110.95.6

-2.8

1967

Sources, total

Internal sources1

Undistributed profits L .Corporate inventory

valuation adjustment.Capital consumption

allowances1

External sources.

StocksBondsMortgagesBank loans, n.e.c...Other loansTrade debtProfits tax liability.Other liabilities....

Uses, total.

Purchases of physical assets.

Nonresidential fixedinvestment

Residential structures-Change in business

inventories

Increase in financial assets 2..

Liquid assetsDemand deposits and

currencyTime depositsU.S. Government

securities

Open-market papers-

Consumer creditTrade creditOther financial assets...

Discrepancy (uses lesssources).

92.4

59.8

20.5

- . 8

40.1

32.6

1.715.03.56.11.84.2

- 4 . 64.9

89.9

72.5

62.43.7

6.4

17.4

2.9

.74.0

-2 .71.0

1.17.65.8

- 2 . 5

!The figures shown here for "internal sources," "undistributed profits," and "capital consumption allowances"differ from those shown for "cash flow, net of dividends," "undistributed profits" and "capital consumption allowances"in the gross corporate product table in the national income and product accounts of the Department of Commerce forthe following reasons: (1) these figures include, and the statistics in the gross corporate product table exclude, branchprofits remitted from foreigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, andthe gross corporate product figures include, the internal funds of corporations whose major activity is farming.

2 Includes some categories not shown separately.Source: Board of Governors of the Federal Reserve System.

294


TABLE B-73.—Current assets and liabilities of United States corporations, 1939—67[Billions of dollars]

End of yearor quarter

1939

194019411942 .19431944

1945194619471948.. .1949 \"_

1950....1951195219531954

1955195619571958...1959 V.

19601961New series 319611962 "196319641965

1966

1965: I.IIIIIIV

1966: IIIIIIIV

1967: I...II

Cur

Total

54.5

60.372.983.693.897.2

97.4108.1

123.6133.0133,1

161.5179.1186.2190.6194.6

224.0237.9244.7255.3277.3

289.0306.8

304.6326.5351.7372.2406.6

439.6

377.3385.2394.4406,6

412.1421.8429.5439.6

440.2441.1448.9

Cashon

handandin

banks

10.8

13.113.917.621.621.6

21.722.8

25.025.326.5

28.130.030.831.133.4

34.634.834.937.436.3

37.241.1

40.743.746.547.349.7

49.8

44.746.146.049.7

47.348.147.349.8

46.947.448.8

U.S.Gov-ern-ment

securi-ties

2.2

2.04.0

10.116.420.9

21.115.3

14.114.816.8

19.720.719.921.519.2

23.519.118.618.822.8

20.120.0

19.219.620.218.616.5

15.2

18.115.915.616.5

16.715.014.315.2

14.111.310.6

Current assets

Re-ceiv-ablesfromU.S.Gov-ern-ment1

0.1.6

4.05.04.7

2.7.7

Notesandac-

countsreceiv-able

22.1

23.927.423.321.921.8

23.230.0

38.342.443.0

1.12.72.82.62.4

2.32.62.82.82.9

3.13.4

3.43.73.63.43.9

4.5

3.33.23.63.9

3.94.04.24.5

4.44.64.7

55.758.864.665.971.2

86.695.199.4

106.9117.7

126.1135.8

133.3144.2156.8169.9187.9

202.6

173.2178.4183.7187.9

190.8196.7201.1202.6

202.6204.9208.9

In-ven-

tories

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

95.2100.7107.0113.5125.7

143.2

116.5118.8122.5125.7

129.2133.4138.3143.2

146.8147.9149.9

Othercur-rentas-

sets -'

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

10.611.4

12.914.717.819.622.9

24.2

21.422.722.922.9

24.324.624.424.2

25.424.926.0

Current liabilities

Total

30.0

32.840.747.351.651.7

45.851.9

61.564.460.7

79.892.696.198.999.7

121.0130.5133.1136.6153.1

160.4171.2

155.8170.9188.2202.2226.5

250.2

205.1210.5216.6226.5

229.3234.7241.5250.2

248.5248.2252.6

Ad-vances

andpre-pay-

ments,U.S.Gov-ern-

ment1

0.6.8

2.02.21.8

.9

.1

Notesandac-

countsPay-able

21.9

22.625.624.024.125.0

24.831.5

37.639.337.5

.41.32.32.22.4

2.32.42.31.71.7

1.81.8

1.82.02.52.73.1

4.4

2.82.93.13.1

3.33.54.04.4

4.95.45.7

47.953.657.057.359.3

73.881.584.388.799.3

105.0112.8

110.0119.1130.4140.3158.0

173.7

141.7146.4150.7158.0

158.3164.0167.8173.7

171.2174.6176.1

Fed-eralin-

cometax

liabili-ties

1.2

2.57.1

12.616.615.5

10.48.5

10.711.59.3

16.721.318.118.715.5

19.317.615.412.915.0

13.514.1

14.215.216.517.018.8

18.8

16.615.916.918.8

18.916.517.718.8

18.412.513.3

Othercur-rentlia-

bili-ties

6.9

7.17.28.78.79.4

9.711.8

13.213.514.0

14.916.518.720.722.5

25.729.031.133.337.0

40.142.5

29.834.538.742.246.6

53.3

44.045.345.946.6

48.850.852.153.3

54.155.757.4

Network-

capi-tal

24.5

27.532.336.342.145.6

51.656.2

62.168.672.4

81.686.590.191.894.9

103.0107.4111.6118.7124.2

128.6135.6

148.8155.6163.5170.0180.1

189.4

172.2174.7177.8180.1

182.7187.1188.0189.4

191.7192.8196.3

1 Receivables from and payables to U.S. Government do not include amounts offset against each other on corporations'books or amounts arising from subcontracting which are not directly due from or to the U.S. Government. Wherever possible,adjustments have been made to include U.S. Government advances offset against inventories on corporations' books.

2 Includes marketable securities other than U.S. Government.3 Generally reflects definitions and classifications used in "Statistics of Income" for 1961.

Note.—Data relate to all United States corporations, excluding banks, savings and loan associations, insurance com-panies, and beginning with the new series for 1961, investment companies. Year-end data through 1964 are based on"Statistics of Income" (Treasury Department), covering virtually all corporations in the United States. "Statistics ofIncome" data may not be strictly comparable from year to year because of changes in the tax laws, basis for filing returns,and processing of data for compilation purposes. All other figures shown are estimates based on data compiled from manydifferent sources, including data on corporations registered with the Securities and Exchange Commission.

Source: Securities and Exchange Commission.

295


TABLE B—74.—State and municipal and corporate securities offered, 1934^67l


Year or quarter

1934

19351936 . . . . .193719381939

19401941 . .194219431944

194519461947 .19481949

195019511952 .19531954

19551956195719581959

19601961196219631964

196519661967 P

1965: 1I I . . .IIIIV

1966: 1IIIIIIV

1967: 1IIIIIIV v

Qtotaand

munici-

curitiesofferedfor cash(prin-cipal

amounts)

939

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

7,2308,3608,558

10,10710,544

11,14811,08914,241

2,7462,9912,7582,653

2,8703,1772,4342,609

4,0463,7993,0383,357

Total

397

2 3324,5722,3102 1552,164

2,6772,6671,0621 1703,202

6 0116,9006,5777 0786,052

6,3617,7419,5348,8989,516

10,24010,93912,88411,5589,748

10,15413,16510,70512,21113,957

15,99218,07424,650

3,0075,0433,9124,030

5,0945,1154,1973,669

5,4646,2086,8326,140

Corporate securities offered for cash -

Sross proceeds 3

Com-monstock

19

22272285

2587

1081103456

163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,2941,3141,0122,679

1,5471,9391,940

297665231353

519975171274

298518447680

Pre-ferredstock

6

86271406

8698

183167112124369

7581 127

762492425

631838564489816

635636411571531

409450422343412

725574890

132255151187

215115143101

92208231360

Bondsand

notes

371

2 2254,0291,6182 0441,980

2,3862,390

917990

2,669

4 8554,8825,0365,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,4208,969

10,85610,865

13,72015, 56121,820

2,5784,1233,5293,490

4,3594,0253,8833,294

5,0745,4826,1545,110

Total

384

2,2664,4312,2392,1102,115

2,6152,6231,0431 1473,142

5 9026,7576,4666,9595,959

6,2617,6079,3808,7559,365

10,04910,74912,66111,3729,527

9,92412,88510,50112,04913,792

15,80117,84124,260

2,9724,9773,8693,982

5,0365,0464,1433,617

5,4036,1096,7166,030

Proposed uses of net proceeds4

1

Total

57

208858991681325

569868474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7,9579,663

11,7849,9078,578

8,75810,7158,2408,898

11,233

13,06315,80622,110

2,4274,1643,1773,296

4,3204,6443,6633,179

5,0765,6725,9435,420

l̂ew money

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213,724

2,9665,1106,3125,6475,110

5,3336,7099,0407,7926,084

5,6627,4135,6525,3407,003

7,71212,43016,050

1,5202,3242,1041,763

3,2583,6682,9072,597

3,8084,2654,3293,650

Work-ing

capi-tal

26

96478417177155

145207187167405

4421,1641,1821,708

882

1,0411,4211,8682,3131,670

2,6242,9542,7442,1152,494

3,0973,3032,5883,5584,230

5,3523,3766,060

9071,8401,0731,533

1,062976756582

1,2681,4071,6141,770

Retire-mentof se-

curities

231

1 8653,3681,1001,2061,695

1,8541,583

396739

2,389

4 5552,8681,352

307401

1,271486664260

1,875

1,227364214549135

271868754

1,526754

996241330

234188336237

51725267

3951

133100

Otherpur-poses

95

19320414822295

19217217310096

267610524722952

984589537535709

864721663915814

8951,3021,5071,6251,805

1,7411,7951,820

311625356449

665331428371

28738664C50C

» These data cover substantially all new issues of State, municipal, and corporate securities offered for cash sale in theUnited 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 investment company issues,and issues to be sold over an extended period, such as offerings under employee-purchase plans.

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

costs of flotation.

Sources: Securities and Exchange Commission, "The Commercial and Financial Chronicle," and "The Bond Buyer."

296


TABLE B—75.—Common stock prices, earnings, and yields, and stock market credit, 1939—67

Year or month

Standard & Poor's common stock data

Price index1

Total(500

stocks)

Indus-trials(425

stocks)

Publicutilities

(50stocks)

Rail-roads(25

stocks)

Divi-dend

yield 2(per-cent)

Price/earn-ings

ratio 3

Stock market credit

Customer credit (excludingU.S. Government

securities)

Total

Netdebitbal-

ances «

Bankloans

to"others" 5

Bankloans tobrokers

anddealers 6

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..1966.1967.

1966: Jan...Feb...Mar..Apr...May..June..

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

1967: Jan...Feb...Mar..Apr...May..June..

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

1941-43=10 Millions of dollars

12.0611.029.828.67

11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.38

55.8566.2762.3869.8781.3788.1785.2691.93

93.3292.6988.8891.6086.7886.0685.8480.6577.8177.1380.9981.3384.4587.3689.4290.9692.5991.43

93.0194.4995.8195.6692.6695.30

11.7710.699.728.78

11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1993.4891.0999.18

99.5699.1195.0498.1792.8592.1491.9586.4083.1182.0186.1086.5089.8893.3595.8697.5499.5998.61

100.38102.11103.84104.16100.90103.91

16.3415.0510.937.74

11.3412.8116.8420.7618.0116.7717.8719.9620.5922.8624.03'27.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969.9176.0868.2168.10

74.5071.8769.2170. 0668.4967.5167.3063.4163.1165.4168.8268.8670.6370.4570.0371.7070.7067.39

67.7768.0367.4564.9363.4864.61

9.829.419.398.81

11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.09

30.3132.8330.5637.5845.4646.7846.3446.72

53.6854.7851.5252.3347.0046.35

45.5042.1240.3139.4441.5741.44

44.4846.1346.7845.8047.0048.19

49.9150.4349.2746.2842.9543.46

4.055.596.827.244.934.864.173.854.935.546.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.403.20

3.023.063.233.153.303.36

3 373.603.753.763.663.593.513.363.293.243.193.19

3.153.113.073.073.183.09

13.8010.248.268.80

12.8413.6616.3317.699.366.906.64

6.639.27

10.479.69

11.2511.5014.0512.8916.6417.05

17.0921.0616.6817.6218.0817.0814.92

16.31

14.71

13.92

14.74

17.86

17.01

17.81

1,374976

1,032968

1,2491,7981,8261,9802,4453,4364,0303,9843,5764,5374,4614,4155,6025,4947,2427,0537,7057,443

10,347

7,7267,9507,8237,9917,9058,001

7,8707,8117,5257,3027,3527,4437,3457,4157,8087,9698,0858,333

8,8008,8699,162.9,534.9,43210,347

942473517499821

1,2371,2531,3321,6652,3882,7912,8232,4823,2853,280

3,2224,2594,1255,5155,0795,5215,3297,883

5,5515,7535,6455,8355,7685,7705,6675,6095,3555,1695,2175,3295,2905,3495,7185,8195,9266,166

6,6036,6076,8257,0097,0557,883

353432503515469428

561573648780

1,0481,2391,1611,0941,2521,181

1,1931,3431,3691,7271,974

s 2,1842,1152,464

5 2,2442,2702,2432,2252,2062,235

2,2032,2022,1702,1332,1352,115

2,0552,0662,0902,1502,1592,167

2,1972,2622,3372,4232,4422,464

715584535850

1,3282,1372,7821,471784

1,3311,608

1,7421,4192,0022,2482,6882,8522,2142,1902,5692,584

2,6143,3984,3524,7544,631

6 4,2774,5015,082

6 4,0953,6213,8644,5424,3804,652

3,6864,1793,5453,2683,1064,4964,6724,0454,4844,3854,0753,813

4,1954,6854,8144,6704,2965,082

1 Annual data 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 market value 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. Includes net debit balances

of all customers (other than general partners in the reporting firm and member firms of national exchanges) whose com-bined accounts net to a debit. Balances secured by U.S. Government obligations are excluded. Data are for end of period.

3 Loans by weekly reporting member banks (weekly reporting large commercial banks beginning 1965) to others thanbrokers and dealers for purchasing or carrying securities except U.S. Government obligations. Data are for last Wednesdayof period.

« Loans by weekly reporting member banks (weekly reporting large commercial banks beginning 1965) for purchasingor carrying securities, including U.S. Government obligations. Data are for last Wednesday of period.

Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New York StockExchange.

297


TABLE B-76.—Business formation and business failures, 1929-67

Year or month

19291930193119321933 3

193419351936193719381939 3

1940194119421943194419451946194719481949195019511952195319541955195619571958 .195919601961196219631964196519661967

1966: JanFebMarAprMay .JuneJuly.AugSeptOct.NovDec

1967: JanFebMarAprMayJuneJulyAugSeptOct.NovDec

Indexof net

businessformation

(1957-59 =100)

123.196.7

102.3102.8108.0103.599.8

107.6103.298.397.1

104.699.895.498.0

100.6104.5106.0105.5

Newbusinessincorpo-rations(num-

ber)

132,916112,63896,10185,49192,92583,64992,819

102,545117,164139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,797200,010

Business failures l

Busi-ness

failurerate^

103.9121.6133.4154.1100.361.161.747.845 961.169.663.054 544.616.46 54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.0

Seasonally adjusted

109.1109.6109.6107.6106.8106.2104.8103.9102.7103.3100.6101.4102.2103.2103.3104.0105.7109.0108.4110.3110.2110.3112.9

18,08717,45117,26617,05716,64416,57716,07416,34315,76416,23316,20616,58316,70315,98716,24416,76017,62717,79916,07217,38818,40917,90818,621

50.744.150.247.445.849.452.360.856.657.255.652.454.957.149.752.148.648.643.249.349.147.442.243.2

Number of failures

Total

22,90926,35528,28531,82219,85912,09112,2449,6079 490

12,83614,76813,61911,8489,4053,2211 222

8091,1293,4745,2509,2469,1628,0587,6118,862

11,08610,96912,68613,73914,96414,05315,44517,07515,78214,37413,50113,51413,06112,364

1,084946

1,2261,106

9971,0771,0171,2491,0421,1501,1121,0551,1911,2161,2161,1601,1001,047

8431,017

913949881831

Liability sizeclass

Under$100,000

22,16525,40827,23030 19718,88011,42111,6919,2859 203

12,55314,54113,40011 6859,2823,1551 176

7591,0023 1034,8538,7088,7467,6267,0818,075

10,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,144

916800

1,037924847885879999867957919803

1,003995981966917850708793758782718673

$100,000andover

744947

1,0551 625

979670553322287283111219163123664650

127371397538416432530787860856

1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,220

168146189182150192138250175193193252188221235194183197135224155167163158

Amount of currentliabilities (millions

of dollars)

Total

483.3668.3736.3928.3457.5334.0310.6203.2183 3246.5182.5166.7136.1100.845.331.730.267.3

204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6

1,090.11,213.61,352.61,329.21,321.71,385.71,265.2

103.295.5

103.5110.196.4

123.669.9

178.1129.2108.0106.7161.5108.2113.5119.3103,893.4

104.672.6

108.993.981.670.0

195.4

Liability sizeclass

Under$100,000

261.5303.5354.2432.6215.5138.5135.5102.8101.9140.1132.9119.9100.780.330.214.511.415.763.793.9

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6

. 278.9327.2370.1346.5321.0313.6321.7321.5297.9

27.124.228.626.123.926.526.230.725.429.629.024.230.229.328.727.827.124.720.823.722.222.521.319.6

$100,000andover

221.8364.8382.2495.7242.0195.4175.1100.481.4

106.449.746.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1

1,031.61,015.61,000.01,064.1

967.3

76.071.374.884.172.597.143.6

147.4103.878.477.8

137.277.984.190.676.166.380.051.785.271.859.148.7

175.81 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.2 Failure rate per 10,000 listed enterprises.3Series revised; not strictly comparable with earlier data.Sources: Department of Commerce (Bureau of the Census) and Dun & Bradstreet, Inc.

298


AGRICULTURE

Year orquarter

1929

1930193119321933193419351936193719381939

19401941194219431944 .19451946194719481949

1950 .195119521953 . .195419551956195719581959

1960 .1961196219631964 . . . . . .19651966 .1967 v

1966: 1IIIIIIV

1967: L .IIIIIIV v

TABLE B—77.—Income from

Personal incomereceived by totalfarm population

Fromall

sources

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

18.719.019.218.718.020.321.320.1

Fromfarm

sources1

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

11.412.112.212.011.213.414.413.2

non-farm

sources2

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

7.26.97.06.76.86.96.96.9

agriculture, 1929-67

Income received from farming

Realized gross

Total 3

Cashreceipts

frommarket-

ings

Billions of dollars

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

37.939.641 142.142.444.849.748.9

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

34.034.936.237.237.139.143.242.5

Produc-tion ex-penses

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

26.227.028 529.629.430.933.334.4

Net to farmoperators

Exclud-ing netinven-tory

change

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

11.712.612.512.513.013.916.414.5


49 549.550.049.9

49.349.149.248.1

43 343.143.343.2

42.642.442.942.1

32 633.133.534.0

34.334.534.434.2

16 916.416.515.9

15.014.614.813.9

Includ-ing netinven-tory

change4

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

12.012.913 113.112.214.916.214.9

17 316.216.115.3

14.814.515.215.4

Net income perfarm, includingnet inventory

change

Currentprices

1967prices»

Dollars

945

651506304379431775639905668685

7061,0311,5881,9271,9502,0632,5432,6153,0442,233

2,4212,9462,8962,6262,6062,4632,5352,5903,1892,795

3,0433,3893,5623,6713,5104,4134,9884,705

5,3204,9804,9504,710

4,6704,5804,8004,860

1,969

1,4471,297

9211.1151,1341,9871,6382,2621,7581,851

1,8582,5783,4523,7783,5453,6194,0373,5343,9032,938

3,1443,5493,4483,1263,1022,9322,9822,9433,5833,106

3,3813,7243,8723,9473,7744,6455,0904,705

5,4805,0805,0004,760

4,7204,5804,7504,810

1 Net income to farm operators including net inventory change less net income of nonresident operators plus wagesand salaries and other labor income of farm resident workers less contributions of farm resident operators and workersto social insurance.

2 Consists of income received by farm residents from nonfarm sources, such as wages and salaries from nonfarm em-ployment, nonfarm business and professional income, rents from nonfarm real estate, dividends, interest, royalties,unemployment compensation, and social security payments.

3 Cash receipts from marketings, Government payments, and nonmoney income furnished by farms.4 Includes net change in inventory of crops and livestock valued at the average price for the year.5 Income in current prices divided by the index of prices paid by farmers for family living items on a 1967 base.Source: Department of Agriculture.

299


TABLE B-78.—Farm production indexes, 1929-67

[1957-59 = 1001

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...1966...1967 P..

Farmout-put »

62

6166645951

6155696768

7073828083

8184818887

8689929393

969795102103

106107108112112

115113117

Crops

Total 2

73

6977736554

7059817675

7879898388

8589859792

8991959493

969593104103

108107107112109

115112116

Feedgrains

62

5663735633

6038676565

6671817478

7582639180

8175797781

868593101106

1099910011097

111111124

Hayand

forage

79

6672746964

8266758175

8686939190

9387848483

8992909292

989410110297

103102105105105

112110115

Foodgrains

68

7479634745

5554747763

6979837288

929511110792

868510910088

83878212197

11510698102114

117118134

Vege-tables

73

7475767380

8175828181

8384899792

94105919794

9689909593

9610298102100

103110108108103

110110112

Fruitsandnuts

75

7392757671

9070938496

9399988498

891061019298

98100979899

9910394102104

S810998102111

110122100

Cot-ton

120

11313810510578

861011549796

1028810593100

747197122131

82124124134111

1201088993118

116116121125124

1217862

To-bacco

88

9589588063

76689180110

84738181113

114134122115114

117135130119130

12712696100104

112119134135129

107107116

Oilcrops

13

1414131113

2116182229

3437566050

5452556761

7165636371

78929111198

105122123128128

153165171

Livestock and products

Total 3

63

6465666761

5963626570

7175849186

8683828085

8892929396

99999799104

102106107111113

111114117

Meatani-mals

62

6366677059

5360586371

7276879788

8482817983

8995959498

1031009698106

103106108114116

111116118

Dairyprod-ucts

75

7678797978

7879798182

8489929192

9594939093

9392929798

9910110110099

101103104103105

103100100

Poul-tryandeggs

44

4544444441

4144444548

4954627171

7469686774

7881828487

869495101104

104112111115118

124131139

1 Farm output measures the annual volume of farm production available for eventual human use through sales fromfarms or consumption in farm households. Total excludes production of feed for horses and mules.

2 Includes production of feed for horses and mules and certain items not shown separately.3 Includes certain items not shown separately.

Source: Department of Agriculture,

300


T A B L E B—79.—Farm population, employment, and productivity, 1929—67

Year

1929

19301931193219331934

1935 . . . .1936193719381939

19401941194219431944 . . . .

1945.194619471948 . . .1949

19501951195219531954

19551956195719581959

I960..1961196219631964

196519661967 v

Farm population(April l ) i

Num-ber

(thou-sands)

30,580

30,52930,84531,38832,39332,305

32,16131,73731,26630,98030,840

30, 54730,11828 91426,18624,815

24,42025,40325,82924,38324,194

23,04821,89021,74819,87419,019

19,07818,71217,65617,12816,592

15,63514,80314,31313,36712,954

12,36311,59511,000

As per-cent of

totalpopu-

lation 2

25.1

24.824.925.125.825.5

25.324.824.223.823.5

23.122.621.419.217.9

17.518.017.916.616.2

15.214.213.912.511.7

11.511.110.39.89.4

8.78.17.77.16.7

6.45.95.5

Farm employment(thousands) *

Total

12,763

12,49712,74512,81612,73912,627

12,73312,33111,97811,62211,338

10,97910,66910,50410,44610,219

10,00010,29510,38210,3639,964

9,9269,5469,1498,8648,651

8,3817,8537,6007,5037,342

7,0576,9196,7006,5186,110

5,6105,2144,953

Familyworkers

9,360

9,3079,6429,9229,8749,765

9,8559,3509,0548,8158,611

8,3008,0177,9498,0107,988

7,8818,1068,1158,0267; 712

7,5977,3107,0056,7756,570

6,3455,9005,6605,5215,390

5,1725,0294,8734,7384,506

4,1283,8543,693

Hiredworkers

3,403

3,1903,1032,8942 8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362 1442,0892,081

2,0361,9531,9401,9821,952

1,8851,8901,8271,7801,604

1,4821,3601,260

Farm output

Perunit oftotalinput

63

6369696559

6962737472

7275827982

8285828886

8586899091

949696

103101

105106107110109

112108109

Per man-hour

Total

28

2830302827

3129333535

3639424244

4649505657

6162687174

808691

103106

115120127135142

155161167

Crops Live-stock

ndex, 1957-59=10C

28

2730302727

3128333534

3739434144

4650505757

6361676973

778390

105105

114119124132133

146151173

48

4747474643

4446464850

5051565856

5859616266

6872747680

858992

100108

113120127137147

159170176

Cropproduc-

tionper

acre *

69

6472686151

6656767374

7677867883

8286829285

8485908988

919293

105102

109113116119116

122120121

Live-stockpro-

ductionper

breed-

unit

68

7070696862

6970717575

7580817875

7978798286

8689899392

939596

10G104

105108108111112

111118121

1 Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian populationliving on farms, regardless of occupation.

2 Total population of United States as of July 1 includes Armed Forces abroad.3 Includes persons doing farmwork on all fan

h. . • A • • • rr r > t _ • _ • * .

r o ._ farms. These data, published by the Department of Agriculture, StatisticalReporting Service, differ from those on agricultural employment by the Department of Labor (see Table B-22) because ofdifferences 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 on "Farm Labor," September 10,1958.

Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).

284-593 0—68301


T A B L E B—80.—Indexes of prices received and prices paid byfarmers, and parity ratio, 1929—67

[1957-59=100]

Year or month

1929 .

19301931193219331934193519361937..19381939

194019411942194319441945194619471948 .1949

195019511952195319541955195619571958 .1959

I9601961196219631964196519661967

1966' Jan 15Febl5Mar 15Apr 15 . .May 15June 15

July 15Augl5Sept 15 . .Oct 15Nov 15Dec 15

1967- Jan 15Feb 15Mar 15 .Apr 15 . ...May 15June 15

July 15Aug 15Sept 15Oct 15Nov 15Dec 15

Prices received by farmers

Allfarmprod-

61

52362729374547514039

425166

6 808 82e 866 98114119103

107125119105102969597104100

999910110098103110104

109112112110109109

111112112110107106

105104103101104105

106106104104103105

Crops

Allcrops *

61

52342632444649533637

414865848991102118114100

10411912010810810410510110099

99102104107107105105100

103105104106107108

110107105104103103

10110010010099102

10110097100102104

Foodgrains

55

44272131434651573534

40465770788195128118103

1061151161111101071061069896

969910710690778784

818281808289

969493898990

888589878985

798079827980

Feed grainsand hay

Total

74

67463136606865794546

54587296108106127161162112

1221431471301281161151059798

969598104105110114110

111112110110111111

115118120116115118

117116117115115116

11210410510197101

Feedgrains

77

68442836607068844544

54587397109104131171170109

1231471501321301161161059798

949496102103108112108

108109107108110110

114117119114113115

115114115114114115

111103103979397

Cot-ton

57

40241926393838362728

3243606466699110510494

10812911910210510410310197102

97100104104100948273

868789929295

966969737171

646766666465

687169889889

To-bacco

35

29201822323533413631

28325166727478777882

8390898991909396100104

103109109102101106114114

111112113113113113

114116117116115116

115116116115115115

115116111111112115

Oil-bear-ing

crops

62

48321925455552564242

4560808897100114158153106

1201481291221331091111069896

93112108113112116128121

117121119121124128

138148133128128129

128125126125124125

122117115114114115

Livestock and products

Alllive-stockandprod-ucts^

62

52382827324446494341

42536677768294111122106

10813011910497908894106100

9898999591101113107

114118117113110110

111116116114110109

109107105102108108

110110110107104105

Meat

mals

50

43302019223838423736

3546606662

6676 81107117101

1101331159492807689109102

96971019488104116109

120124123119117117

115119115111105105

107107105104114115

116114112107103103

Dairy

ucts

65

55433334404549514543

475563

6 77

6 896 10410611798

9711211810496969910199100

1011019999100102114119

108108108106104104

112118125127126125

121119117113112112

114118122125125125

Poul-tryandeggs

102

81625147567473706961

627796121112126127141153140

11814413014011312111210?10890

101929292909210?84

10110811110395

97103106101103100

9690918?8078

848184777782


302


T A B L E B-80.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929—67—Continued[1957-59=100J

Year or month

Prices paid by farmersAll

items,in-

terest,taxes,

andwagerates

(parityindex)

Commodities and services

Allitems

Fam-

livingitems

Production items

Allproduc-

tionitems1

FeedMotor

ve-hicles

Farmma-

chin-ery

Fer-til-izer

Inter-ests Taxes3 Wage

rates*

Parityratio «

1929193019311932193319341935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671966: Jan 15....

Feb 15...Mar 15.Apr 15...May 15...Junel5._July 15...Augl5...Sept 15...Oct 15Nov 15...Dec 15...

1967: Jan 15...Feb 15...Mar 15...Apr 15...May 15...June 15..July 15..Aug 15...Sept 15..Oct 15...Nov 15...Dec 15...

8796989595949598100102102103105107107110114117112112113114114114114114115115115115116116116116117117118117117118117118

555144383843454548454445485561646672859288901001009696959698101101101101103104104106109111107108109109109109109110111110110110111111111111111111112111111112111112

545043373843434345434242455258616471838885

8694959494959699100101102102103104105107110112108109110110110110110111111111111111111111111111112112113113113113114114

565243383844464650474647505763666773859591941041049797969598100102101101103104103105108110107108108108108108109109110109109109110110110110110111111110110110109110

6861433237525355624747505466788786100118125103105118126114113106103101991009898100104103104109109105106105105106106110111113112111113113112112112110110109107107106105106

3635353434363738394240404245475153556371787883878686878996100104102102105109111113117122

116

116118

117119118118

119

121121

122124124

4343424039404142434443434346484949515867767883868787879296100104107110111113116119124130

122

124'

126

126

127

130

132

8583756661696864676766646471767779798896989410010210310210110010010010010010010010099100100100

100100

100

100

100

100101

101

100

100

11611310810190807468646058565451464341404243454954596368748391100109120131145162182206232259232232232232232232232232232232232232261261261261261261261257257257257257

5657565144383636363837383838373739434856606568717477818793100107117125132139147156166178165165165165165165165165165165165166178178178178178178178178178178178178

323024181517182022222222263445546266727674738187888889929699105109110114116119125135146127127127138138138135135135140140140137137137146146146148148148152152152

77 8581 (88)93 (98)105 (109)113 (116)108 (110)109 (111)113 (115)115 (116)110 (111)100 (100)101 (102)107 (108)100 (101)92 (93)89 (89)

86)(85)(85)

75 (80)74 (80)74 (79)72 (77)74 (79)74 (80)74 (80)75 (80)73 (7873 (7873 (7873 (79

1 Includes items not shown separately.- Interest payable per acre on farm real estate debt.3 Farm real estate taxes payable per acre (levied in preceding year).4 Monthly data are seasonally adjusted.5 Percentage ratio of prices received for all farm products to parity index, on a 1910-14=100 base. The adjusted parity

ratio (shown in parentheses in the table) reflects Government payments made directly to farmers.6 Includes wartime subsidy payments.Source: Department of Agriculture.

303


Year

1929

19301931193219331934

19351936193719381939

194019411942.19431944

19451946194719481949

1950 ....1951195219531954 ....

19551956195719581959

1960196119621963.1964

196519661967 v

T A B L E B-81.—Selected measures of farm resources and inputs

Cropsharvested(millionsof acres) 1

Total

365

369365371340304

345323347349331

341344348357362

354352355356360

345344349348346

340324324324324

324303295300301

298295308

Exclu-sive ofuse forfeed forhorsesandmules

298

304303311281247

289269295301286

298304309320326

322323329332338

326326334335335

330315316317318

319299291296297

294291304

Live-stockbreed-ingunits(1957-59 =100)2

92

9293959898

8690878793

9594104117114

1091071049899

102103103100104

10610410199100

979899100101

1009797

Man-hoursof

farmwork(bil-lions)

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

9.89.59.18.88.4

7.97.57.4

Total

98

9796939186

8889949194

9797100101101

999999100101

101104103103102

1021019999102

101101101102103

103105107

Index

Farmlabor

218

216220213212190

198192208193194

192188194191190

177170162158152

142143136131125

1201131049997

9289858379

747070

, 1929-67

numbers of inputs (1957-59 = 100)

Farmreal

estate 3

92

9189868786

8889909192

9292918988

8891929595

97989999100

10099100100100

100100101101102

1009998

Me-chani-cal

powerandma-

chinery

38

4038353232

3335384040

4244485051

5458647280

8692969798

999910099101

100979799101

101104108

Ferti-lizerandlime

21

2116111214

1720242324

2830343843

4553565761

6873808388

90919497109

110116124141155

164185200

Feed,seed,andlive-stockpur-

chases 4

27

2623242424

2331293037

4546576364

7269737269

7280818082

869193101106

109123121124123

124128126

Miscel-laneous

76

7678797669

6668687072

7374757676

7677787482

8588889191

949895100105

106109113115120

124127135

1 Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.2 Animal units of breeding livestock, excluding horses and mules.3 Includes service buildings and improvements on land.* Nonfarm inputs associated with farmers' purchases.Source: Department of Agriculture.

304


TABLE B-82.—Comparative balance sheet of agriculture, 1929-68


Beginning ofyear

1929

19301931193219331934

19351936193719381939

19401941.194219431944

19451946194719481949

195019511952 . . . .19531954

19551956195719581959

19601961196219631964

1965196619671968 v

Assets

Total

68.5

52.955.062.973.784.6

94.2103.5116.4127.9134.9

132.5151.5167.0164.3161.2

165.1169.6177.9185.8202.5

203.5203.9212.4220.7230.0

'38.5255.7?69.5281.2

Realestate

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

129.9131.4137.4143.6152.3

161.3172.2182.0191.5

Other physical assets

Live-stock i

6.6

6.54.93.63.03.2

3.55.25.15.05.1

5.15.37 l9.69.7

9.09.7

11.913.314.4

12.917.119.514.811.7

11.210.611 013.917.7

15.615.616.417.315.8

14.417.518.8

Ma-chin-eryand

motorvehi-cles

3.2

3.43.33.02.52.2

2.22.42.63.03.2

3.13.34.04.95.4

6.55.45.37.4

10.1

12.214.116.717.418.4

18.619.320.220.222.1

?2.322.022.522.724.1

25.527.128.9

Crops 2

2.5

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

9.68.38.37.69.3

7.88.08.79.29.9

8.99.7

10.0

House-hold

furnish-ingsand

equip-ment

4.0

4.24.24.95.05.3

5.66.17.78.59.1

8.69.7

10.39.99.9

10.010.510.09.99.8

9.68.99.19.08.8

8.68.68.5

67.7

Financial assets

De-positsandcur-rency

3.6

3.23.54.25.46.6

7.99.4

10.29.99.6

9.19.19.49.49.4

9.49.59.49.5

10.0

9.28.78.89.29.2

9.610.010.3

U.S.savingsbonds

.2

.45

1.12.2

3.44.24.24.44.6

4.74.74.74.64.7

5.05.25 15.15.2

4.74.64.54.44.2

4.24.14.0

Invest-mentin co-opera-tives

0.6

.8

.99

1.01.1

1.21.41.51.71.9

2.12.32.52.72.9

3.13.33 53.74.0

4.44.75.05.35.7

6.06.57.0

22.0

Claims

Total

68.5

52.955.062 973.784.6

94.2103.5116.4127.9134.9

132.5151.5167.0164.3161.2

165.1169.6177.9185.8202.5

203.5203.9212.4220.7230.0

238.5255.7269.5281 2

Realestatedebt

9.8

9.69.49.18.57.7

7.67.47.27.06.8

6.66.56 46.05.4

4.94.84.95.15.3

5.66.16.77.27.7

8.29.09.8

10.411.1

12.112.813.915.216.8

18.921.223.325.0

Otherdebt

5.0

3.43.94 14.03.5

3.43.23.64.26.1

6.87.08.08.99.2

9.49.89 6

10.012.6

12.813.414.816.618.1

18.620.422.424 9

Pro-prie-tors'equi-ties

53.9

42.944.652 463.775.7

85.995.5

107.9118.6123.5

120.1138.4152.3148.2144.3

147.5150.8158 5165.4178.8

178.6177.7183.7188.9195.1

201.0214.1223.8231 3

1 Beginning with 1961, horses and mules are excluded.2 Includes ail crops held on farms and crops held off farms by farmers as security for Commodity Credit Corporation

loans. The latter on January 1,1967, totaled $447 million.

Source: Department of Agriculture.

305


INTERNATIONAL STATISTICSTABLE B-83.—United States balance of payments, 1947-67


Year or quarter

Exports of goods and services

TotalMer-

chan-dise^

Mili-tarysales

Income oninvestments

Pri-vate

Gov-ern-ment

Otherserv-ices

Imports of goods and services

TotalMer-chan-dise^

Mili-taryex-

pend-itures

Otherserv-ices

Bal-anceon

goodsand

serv-ices

Remit-tances

andpen-sions

194719481949

19501951195219531954

19551956195719581959

I9601961196219631964

196519661967

1 9 6 5 : L .I I .I l lIV.

1 9 6 6 : I . .I I .Il lIV.

1 9 6 7 : I . .I I .

19,73716,78915J770

13,80718,74417,99216,94717,759

19,80423,59526,48123,06723,489

27,32528,63130,35032,42637,099

39,14743,03945,603

16,01513,19312,149

10,11714,12313,31912,28112,799

14,28017,37919,39016,26416,295

19,48919,95420,60422,07125,297

26,24429,16830,716

192182

200161375300302

335402656657747

844847

1,173

1,0361,2381,297

1,4841,6841,6241,6581,955

2,1702,4682,6122,5382,694

3,0013,5613,9484,1514,929

5,3765,6505,969

6610298

109198204252272

274194205307349

349380471498460

512595643

2,6202,2562,226

2,0972,7392,8452,5642,551

2,8803,3933,8993,6583,849

4,1514,3344,6715,0495,666

6,1716,7797,101

8,20810,3499,621

12,02815,07315,76616,56115,931

17,79519,62820,75220,86123,342

23,32423,12225,30526,57328,637

32,20337,93740,203

5,9797,5636,879

9,10811,20210,83810,99010,354

11,52712,80413,29112,95215,310

14,73214,51016,18716,99218,621

21,47225,51026,367

455799621

5761,2702,0542,6152,642

2,9012,9493,2163,4353,107

3,0692,9813,0832,9362,861

2,9213,6944,249

1,7741,9872,121

2,3442,6012,8742,9562,935

3,3673,8754,2454,4744,925

5,5235,6316,0356,6457,155

7,8108,7339,587

11,5296,4406,149

1,7793,6712,226386

1,828

2,0093,9675,7292,206

147

4,0015,5095,0455,8538,462

6,9445,1025,400

-728-631-641

-533-480-571-644-633

-597-690-729-745-815

-697-722-778-891-896

-1,024-1,010-1,364


35,07240,72040,32040,476

42,04442,47243,65243,988

45,44445,44845,916

22,51227,52027,24427,700

28,81228,72429,52829,608

30,70430,86830,576

840768920848

836888824840

1,3561,344820

5,4245,6565,3125,112

5,2645,5285,7766,032

5,6925,5446,672

572592584300

612612572584

620644664

5,7246,1846,2606,516

6,5206,7206,9526,924

7,0727,0487,184

28,92832,55632,93234,396

35,98837,06039,04839,652

40,01640,15240,440

18,67621,90022,22423,088

24,10024,90026,32026,720

26,64826,23226,220

2,6842,8443,0163,140

3,4443,6443,8123,876

4,1804,2804,288

7,7,7,

568812692

8,168

8,4448,8,9

999

516916056

188640932

6,8,7,6,

6,

144164388080

0565,4124,4,

5,5,5,

604336

428296476

- 9 2 8-1,200

-996-972

-964-980

-1,112-984

-1,056-1,580-1,456


306


TABLE B-83.—United States balance of payments, 1947-67—Continued


Year orquarter

U.S.Gov-ern-ment

grantsand

capi-tal,net a

U.S. private capital,net

Directinvest-ment

Otherlong-term

Short-term

For-eigncapi-tal,net 2

Errorsand

unre-cordedtrans-actions

Li-quiditybasis 3

Balance

Offi-cial

reservetrans-actionsbasis *

Changes in selected lia-bilities (decrease ( - ) ) «

To foreignofficial holders«

Liquid Non-liquid

Toother

foreignhold-

Changesin goldconvert-ible cur-rencies,

andIMFgold

trancheposition

(increase( ) )

1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961 .1962.19631964.

1965.1966.1967 i

1965:1 . . . .II —ML.IV...

1966:1 . . . .II —I I L .IV...

1967:1IIIII

-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

-2,769-2,780-3,013-3,581-3,560

-3,375-3,446-4,249

- 7 4 9- 7 2 1- 6 6 0

- 6 2 1- 5 0 8- 8 5 2- 7 3 5- 6 6 7

- 8 2 3-1,951-2,442-1,181-1,372

-1,674-1,599-1,654-1,976-2,435

-3,418-3,543-2,885

- 4 9- 6 9- 8 0

- 4 3 5- 4 3 7- 2 1 4

185- 3 2 0

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

-1,444- 9 2 6

- 8 5 6-1,025-1,227-1,695-1,961

-1,078- 2 5 7

-1,144

- 1 8 9- 1 1 6

187

- 1 4 9- 1 0 3

- 9 4167

- 6 3 5

- 1 9 1- 5 1 7- 2 7 6- 3 1 1

- 7 7

-1,349-1,556

- 5 4 4- 7 8 5

-2,146

753- 4 1 3

-1,023

- 4 3 2- 3 6 1

44

18154052

146249

297615545186736

365707

1,021689685

2782,5123,897

9491,193

786

- 1 1500627366191

515568

1,184511423

- 9 2 2- 9 0 4

-1,053- 2 8 5- 9 4 9

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

4,210817136

- 3 , 4 8 9- 8

- 1 , 2 0 6- 2 , 1 8 4- 1 , 5 4 1

- 1 , 2 4 2- 9 7 3

578- 3 , 3 6 5- 3 , 8 7 0

-3,901-2,370-2,203-2,671-2,800

-1,335-1,357-2,283

- 3 , 4 0 3- 1 , 3 4 7- 2 , 7 0 5- 2 , 0 4 4- 1 , 5 4 9

- 1 , 3 0 4225

- 2 , 8 9 7

• 1,4480 681»456

1,6731,075

- 1 8- 1 , 5 9 5

254

303

100802

3081,083

214620

1,554

1312,384

-3,315-1,736

- 2 6 6

1,758- 3 3

- 4 1 51,256

480

182- 8 6 9

-1,1652,2921,035

2,145606

1,533378171

1,222568

Seasonally adjusted annual rates Quarterly totals unadjusted

3,3123,8602,8803,448

3,9003,9523,0362,896

4,8044,0523,892

-4,-3,-2,-2,

832456512872

-2,536-4,024-3,600-4,

-2,-2,-3,

012

488592576

-2,640372

-1,360-684

-1,008-276-20276

-724-688

-2,020

8441,528332308

-380-240-108-924

-616-1,268-1,184

1,240-300-820

1,

992

0604,3641,3,

34,3,

504120

292908492

212-452-980-440

-932-7921,108-592

-1,148-2,212

616

-3,272796

-1,828-1,036

-2,604-488-660

-1,676

-2,116-2,188-2,544

-3,336956828

-3,664

-1,772- 7 0 03,444

- 7 2

-7,260-3,312

l f "

-861-107253697

-85254

-598-199

-78547281

-23-16-18157

25263111403

333562118

201-149712

-633

47527

1,211671

-71194

1,302

8426841

271

4246882

1,027- 4 1 9- 3 7 5

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.* Equals changes in liquid and nonliquid liabilities to foreign official holders and changes in official reserve assets con-

sisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.5 Includes short-term official and banking liabilities, foreign holdings of U.S. Government bonds and notes, and certain

nonliquid liabilities to foreign official holders.o 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 marketable U.S. Government bonds andnotes.

7 Private holders; includes banks and international and regional organizations, excludes IMF.•Not reported separately.9 Includes change in Treasury liabilities to certain foreign military agencies; excluding these changes, data ($ millions)

are 1,258 (I960), 741 (1961), 918 (1962). Includes changes in liabilities to international nonmonetary institutions.10 Average for the first 3 quarters on a seasonally adjusted annual rates basis.

Note.—Data exclude military grant-aid and U.S. subscriptions to International Monetary Fund.


307


TABLE B—84.—United States merchandise exports and imports, by commodity groups, 1958—67


Year or quarter

19581959

19601961196219631964

196519661967 v

1965:1IIIllIV

1966: 1IIIIIIV

1967:1IIIIIIV v

Merchandise exports i

Total, includ-ing reexports 2

Sea-sonally

ad-justed

5,5896,9406,9207,090

7,1947,2577,4397,500

7,7757,7777,7757,688

Unad-justed

16,37316,418

19,63520,19020,97322,42725,690

26,70029,37930,942

5,5937,1306,4817,496

7,0787,4357,0257,841

7,6857,9677,2768,014

Domestic exports

Total 2 *

16,20816,234

19,43419,94420,70322,14325,338

26,35728,94430,555

5,5227,0446,3917,400

6,9787,3056,9197,742

7,5887,8677,1787,922

Food,bever-ages,

and to-bacco

2,6882,852

3,1673,4663,7434,1884,637

4,5205,1864,713

8461,1631,1771,334

1,2521,2571,3101,367

1,1291,1571,1341,295

Crudemate-rialsand

fuels s

3,0512,996

3,9423,8633,3553,7744,336

4,2744,4034,723

9161,170

9861,202

1,0231,0861,0271,267

1,1591,2021,1251,233

Man-ufac-tured

goods6

11,54611,171

12,55912,74813,65514,25916,388

17,38819,10820,752

3,7664,7184,1514,753

4,6434,8884,5315,046

5,2005,4544,8365,297

Merchandise imports

General imports 3

Total*

Sea-sonally

ad-justed

4,6665,4565,4255,736

6,0216,3366,5926,661

6,6886,5936,5427,102

Unad-justed

13,26215,629

15,01914,71616,39217,14018,684

21,36625,54226,816

4,6095,4865,3705,901

5,8946,3346,5456,769

6,6206,5836,4047,209

Food,bever-ages,

and to-bacco

3,5503,580

3,3923,4553,6743,8634,022

4,0134,5894,701

8281,027

9121,246

1,1121,1651,1121,200

1,2121,1251,1001,264

Crudemate-rialsand

fuels «

4,0624,580

4,3804,3034,6404,6924,976

5,3855,6745,337

1,2931,3881,3021,402

1,4101,4381,4561,370

1,3851,3471,2541,360

Man-ufac-tured

goodse

5,2837,090

6,8476,5237,6268,0669,096

11,23814,41315,717

2,3312,8972,7523,258

3,1843,5173,7653,947

3,8123,8463,7804,280

Grossmer-chan-dise

tradesur-plus,sea-

sonallyad-

justed 7

3,111789

4,6165,4744,5815,2877,006

5,3343,8374,126

9231,4841,4951,354

1,173921847839

1,0871,1841,233

586

1 Beginning I960, data have been adjusted for comparability with the revised commodity classifications effective in 1965.2 Totals exclude Department of Defense shipments of grant-aid military supplies and equipment under the Military

Assistance Program.3 Total arrivals of imported goods other than intransit shipments.4 Total includes commodities and transactions not classified according to kind.5 Includes fats and oils.« Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these

items include military grant-aid shipments.7 Exports, excluding military grant-aid, less general imports; quarterly data seasonally adjusted.

Note.—Data are as reported by the Bureau of the Census. Export statistics cover all merchandise shipped from the U.S.customs area, except supplies for U.S. Armed Forces. Export values are f.a.s. port of export and include shipments underAgency for International Development and Food for Peace programs as well as other private relief shipments. Importvalues are defined generally as the market value in the foreign country, excluding the U.S. import duty and transportationcosts such as ocean freight and marine insurance.

Because of revisions, subgroups do not include all data in the totals.

Source: Department of Commerce, Bureau of International Commerce.

308


TABLE B—85.—United States merchandise exports and imports, by area, 1961—67


Area 1961 1962 1963 1964 1965 1966

January-November

1966 1967

Exports (including reexportsand special category ship-ments): Total

Developed countriesDeveloping countries

CanadaOther Western HemisphereWestern Europe iEastern EuropeAsiaAustralia and OceaniaAfrica .

General imports: Total

Developed countriesDeveloping countries

CanadaOther Western Hemisphere-Western Europe iEastern EuropeAsiaAustralia and OceaniaAfricaUnidentified countries 2 . . . .

20,999

13, 5637,303

3,8263,8477,237

1334,652

445859

14,716

8,9095,719

3,2703,7254,062

812,583

320672

3

21,700

13,9857,589

4,0453,6797,633

1254,676

5191,023

16,392

10,2506,035

3,6603,9314,544

792,960

44075424

23,347

15,1248,056

4,2513,6928,171

1675,448

5651,053

17,140

10,8076,242

3,8294,0214,731

813,192

502777

7

26,508

17,2028,966

4,9154,2929,096340

5,802804

1,259

18,684

11,8956,676

4,2394,1515,208

993,62044091710

27,478

18,3159,023

5,6434,2749,224

1406,012956

1,229

21,366

14,0687,144

4,8324,3716,155

1374,52845387812

30,320

20,01010,112

6,6614,7699,805

1986,733805

1,349

25,542

17,5907,762

6,1254,7047,678

1795,2765949797

27,603

18,2579,164

6,0774,3158,979

1826,094730

1,226

23,302

15,9877,144

5,4974,3216,994

1614,871551899

28,751

19,4009,169

6,5514,3069,178

1826,588

8521,094

24,394

17,2187,005

6,4314,2327,292

1624,916

529825

7

1 Includes Finland, Yugoslavia, Greece, and Turkey.2 Consists of certain low-valued shipments and some uranium imports, not identified by country.

Note.—Developed countries include Canada, Western Europe, Japan, Australia, New Zealand, and the Republic ofSouth Africa. Developing countries include rest of the world except Communist areas in Eastern Europe and Asia andunidentified countries.

Source: Department of Commerce, Bureau of International Commerce.

309


TABLE B-86.—United States overseas loans and grants, by type and area, fiscal years 1962-67[Millions of dollars]

Type of program and fiscalperiod

Total economic and militaryloans and grants:1

1962-66 average.LoansGrants

1967 2Loans . .Grants

Total economic loans and grants:1962-66 average

Loans..Grants

1967LoansGrants

Developed countries:1

1962-66 averageLoansGrants

1967LoansGrants

Less developed countries:3

1962-66 averageLoans.Grants

1967LoansGrants

Economic loans and grants forless developed countries, byprogram:

Agency for InternationalDevelopment:

1962-66 average1967.. - . . . : : : " "

Food for Freedom:1962-66 average1967

Export-Import Bank long-term loans:

1962-66 average1967

Other economic programs:4

1962-66 average1967

Addendum—Repayments andinterest on economic and mili-tary loans:5

1962-66 average1967

Net obligations and loan authorizations

Total

6,2552,6473,6076,9383,7493,188

4,7022,5102,1925,2903,0462,244

14011030

520512

8

4,5622,4002,1624,7712,5352,236

2,3012,249

1,5321,031

270947

459543

1,2081,591

NearEastand

SouthAsia

1,9981,243

7561,6731,107

566

1,6681,224

4431,251

994258

1,6681,224

4431,251

994258

811506

790535

57196

914

239341

LatinAmerica

1,213730483

1,486990496

1,125720404

1,398973425

1,125720404

1,398973425

557556

17670

117497

275276

258367

Vietnam

510*

511542- 1542

308

308542- 1542

308

308542- 1542

241467

6875

352

EastAsia

942200742996293702

526194332588292297

6363

9898

462130332490194297

222244

187138

1964

3444

128166

Africa

430169261421206215

407169238388200188

407169238388200188

212184

139165

3414

2125

3653

Europe

590245344986856130

23918752

503490

13

744628

322314

8

16514124

181176

5

2*

1186

44176

524581

Otherandnon-

regional

57260

511834297537

42916

413620100520

311

100100

42715

412520

520

255292

5243

119185

2131

1 Includes military loans and grants averaging $1,553 million for 1962-66 and totaling $1,647 million in 1967. Of theseamounts, $431 million and $695 million, respectively, were to developed countries; and $1,122 million and $952 million,respectively, were to less developed countries. Military loans and grants include grant-aid and credit assistance underthe Foreign Assistance Act (FAA) on a delivery basis, direct military loans by the Export-Import Bank, and military grantsunder other acts. FAA military data are from the Department of Defense.

2 The 1967 data for military loans and grants under the Foreign Assistance Act and several minor economic programsunder "Other" are preliminary.

3 Countries have been classified "less developed" on the basis of the standard list of less developed countries usedby the Development Assistance Committee of the Organization for Economic Cooperation and Development. On thisbasis, "less developed" countries include all countries receiving U.S. loans or grants except the following which areconsidered "developed": Japan, Australia, New Zealand, Republic of South Africa, and all of Europe except Malta,Spain, and Yugoslavia.

4 Includes capital subscriptions and contributions to the Inter-American Development Bank, the International De-velopment Association, and the Asian Development Bank (1962-66 average for the three recipients, $214 million; 1967,$374 million); and Peace Corps (1962-66 average, $72 million; 1967, $105 million).

5 Data for certain programs from Department of Commerce (Office of Business Economics) and Department of Defense.Source: Agency for International Development (except as noted).

310


TABLE B-87 .—International reserves, 1949, 1953, and 1962-67

[Millions of dollars; end of period]

Area and country 1949 1953 1962 1963 1964 1965 1966

1967

Sep-tember

De-cember

All countries

Developed areas

United States

United Kingdom

Other Western Europe..AustriaBelgiumFranceGermanyItalyNetherlandsScandinavian coun-

tries (Denmark,Finland, Norway,and Sweden) . ._

SpainSwitzerlandOther2_

Canada

Japan

Australia, New Zealand,and South Africa

Less developed areas 3

Latin AmericaMiddle EastOther AsiaOther Africa

45,515

37,240

26,024

1,752

6,46092978580196

537

x%1,225

1,197

(01,582

8,280

2,7751,4753,3954 290

51,780

41,390

23,458

2,670

10,515325

1,144829

1,773768

1,232

1,026150

1,7681,500

1,902

892

1,952

10,390

3,4001,2003,8401,800

62,905

54,510

17,220

3,308

27,2401,0811,7534,0496,9564,0681,946

1,6101,0452,8711,861

2,547

2,022

2,175

8,395

2,2301,7752,7951,505

66,275

56,890

16,843

3,147

29,4901,2291,9404,9087,6503,6192,102

1,8751,1473,0741,946

2,603

2,058

2,748

9,385

2,7152,2503,0851,255

68,500

58,995

16,672

2,316

32,3351,3172,1925,7247,8823,8242,349

2,3801,5133,1202,034

2,881

2,019

2,773

9,505

2,8452,3153,0551,220

70,245

59,465

15,450

3,004

33,6251,3112,3046,3437,4294,8002,416

2,3241,4093,2442,045

3,027

2,152

2,205

10,780

3,2802,6753,3801,385

71,615

60,205

14,881

3,100

34,9651,3332,3206,7338,0284,9112,448

2,3401,2053,3242,326

2,693

2,119

2,448

11,415

3,1652,8453,8301,510

72,185

60,040

14,649

2,733

35,6851,4392,5516,7508,0145 4452,475

2,3911,1083,1562,356

2,682

2,047

2,244

12,145

3,2803,2703,9551,575

14,830

2,695

1,4842,5306,9948,1555,4602,619

2,238

3,555

2,709

2,030

2,307

1 Not available separately.2 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.3 Includes unpublished gold holdings not allocable by area.< Estimate.

Note.—Includes gold holdings, reserve positions in the International Monetary Fund, and foreign exchange of all countriesexcept U.S.S.R., other Eastern European countries, Communist China, Cuba (after March 1964), and Indonesia (after July1965).

Beginning 1959, when most of the major currencies of the world became convertible, data exclude known holdings ofinconvertible currencies, balances under payments agreements, and the bilateral claims arising from liquidation of theEuropean Payments Union.

Source: International Monetary Fund, "International Financial Statistics."


TABLE B-88.—United States reserve assets: gold stock, holdings of convertible foreign currencies,and reserve position in the International Monetary Fund, 1946-67


End of year or month Total reserveassets

Gold stock 1

Total 2 Treasury

Convertibleforeign

currencies 3

Reserveposition in

InternationalMonetary Fund4

1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519661967

1966: Jan. .Feb_.Mar_.Apr. .May..June.

July_.Aug_.Sept..Oct...Nov..D e c .

1967: Jan..Feb..Mar.Apr..May..June.

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

20,70624,02125,75826,024

24,26524,29924.71423,45822,978

22,79723,66624,83222,54021,504

19,35918,75317,22016,84316,672

15,45014,88214,830

15,22414,96215,02614,91614,90514,958

15,14815,01514,87614,88014,71514,882

14,19613,99813,85513,90613,94314,274

14,22414,60514,64914,92715,43814,830

20,70622,86824,39924,563

22,82022,87323,25222,09121,793

21,75322,05822,85720,58219,507

17,80416,94716,05715,59615,471

M3,80613,23512,065

M3,81113,81113,73813,66813,58213,529

13,41313,31913,35613,31113,26213,235

13,20213,16113,18413,23413,21413,169

13,13613,07513,07713,03912,96512,065

20,52922,75424,24424,427

22,70622,69523,18722,03021,713

21,69021,94922,78120,53419,456

17,76716,88915,97815,51315,388

5 13,73313,15911,982

5 13,73213,73013,63413,63213,53213,433

13,33213,25913,25813,25713,15913,159

13,15713,10713.10713,10913,10913,110

13.10813,00813,00612,90512,90811,982

11699212432

7811,3212,345

639377559522628722

1,0931,2991,1481,2131,1081,321

645480314315363738

7191,1621,2001,5092,0922,345

1,1531,3591,461

,445,426,462,367,185

,044,608,975,958

1,997

1,5551,6901,0641,035769

5 863326420

5 774774729726695707

642397372356345326

349357357357366367

369368372379381420

1 Includes gold sold to the United States by the International Monetary Fund with the right of repurchase whichginning September 1965 also includes gold deposited by the IMF toamounted to $800 million on December 31,1967. BeginningdlllUUIIlCU Ivl «POUU IIIIIIIUII Ull L/GlrGIIIUGI J l , 1JU/ . UGgllllllllg OOJJ „ - ,

mitigate the impact on the U.S. gold stock of purchases by foreign countries for gold subscriptions on increased IMFquotas. Amount outstanding was $233 million on December 31,1967. The United States has a corresponding gold liabilityto the IMF.

2 Includes gold in Exchange Stabilization Fund.3 Includes holdings of Treasury and Federal Reserve System.4 In accordance with Fund policies the United States has the right to draw foreign currencies equivalent to its reserve

position in the Fund virtually automatically if needed. Under appropriate conditions the United States could draw addi-tional amounts equal to the United States quota.

5 Reserve position includes, and gold stock excludes, $259 million gold subscription to the Fund in June 1965 for a US.quota increase which became effective on February 23, 1966. In figures published by the Fund from June 1965 throughJanuary 1966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position.

Note.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is not included inthe gold stock of the United States.

Sources: Treasury Department and Board of Governors of the Federal Reserve System.

312


TABLE B-89.—Price changes in international trade, 1959-67

[1958=1001

Area or commodity class 1959 1960 1961 1962 1963 1964 1965 1966

1967

Thirdquarter

Developed areas

Total:

ExportsTerms of trade».

United States 2

Exports

Terms of trade»

Developing areas

Total:ExportsTerms of trade

Latin America

ExportsTerms of trade L

Southern and Eastern Asia 4

ExportsTerms of t rade l .

Primary commodities: Total.

Foodstuffs

Coffee, tea, and cocoa..Cereals —

Other agricultural commodities •_

Fats, oils, and oilseeds..Textile fibers

WoolRubber

MineralsMetal ores..

Manufactured goods: Total »...

Nonferrous base metals»_.

99102

100102

106108

Unit value indexes by area

100103

101101

9899

9596

111109

101104

103105

9597

9395

104104

101105

102107

9395

9193

101102

102104

102105

9597

9497

102102

103104

103104

9797

101103

103100

104104

106106

9797

101102

104100

106104

107105

9997

is

106103

World export price indexes5

97

93

8397

105

10098106134

9497

99

111

97

91

7796

107

94104108141

9398

101

114

95

90

7298

103

97105107107

92100

102

110

94

90

70103

99

89101106102

9299

102

109

100

103

73102

103

9511212795

9296

103

110

103

106

87105

105

9811613191

94104

104

135

100

99

80101

104

10810511093

96110

106

155

101

100

OO

O

105

10510611599

97110

108

178

106106

3 1053 104

9997

3 1003 98

3 1063 100

98

99

80108

99

891009985

95102

109

153

* 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 1967.* Excludes Japan.1 Data for manufactured goods are unit value indexes.8 Includes nonfood fish and forest products.

Note.—Data exclude trade of Communist areas in Eastern Europe (except Yugoslavia) and Asia.

Sources: United Nations and Department of Commerce (Bureau of International Commerce).

313


TABLE B-90.—Consumer price indexes in the United States and other major industrial countries,1955-67

Period

19551956195719581959

19601961196219631964..

19651966.._19671

1964:IIIIII..IV

1965:

IIIIIIV

1966:1II . .IllIV

1967:1II..IllIV 2

UnitedStates

90.591.995.197.798.5

100.0101.1102.2103.5104.9

106.6109.7112 8

104.5104.7105.0105.4

105.6106.4106.8107.4

108.2109.3110.3111.2

111.4112.1113.3114.3

Canada

90.992.395 297.798.8

100.0100.9102.1103.9105.8

108.4112.4116.4

105.0105.6106.2106.3

107.2103.0108.9109.4

110.9112.1113.1113.7

114.2115.8117.6117.8

[1960=

Japan

92.793.095 995.596.5

100.0105.3112.5121.1125.7

134.1140.9146.4

122.4125.1126.1128.8

131.5134.1134.1136.7

139.1140.9141.0142.4

145.0144.9145.6150.0

=100]

France

75.576.979 090.996.5

100.9103.3108.3113.5117.4

120.3123.5126.9

116.3116.6117.5118.2

119.1120.4120.6121.2

122.2123.1123.8124.6

125.7126.1127.0128.6

Germany

91.49S.7991697.798.6

100.0102.3105.4108.5111.1

114.9118.9120.6

110.3110.9111.3111.8

113.0114.4115.6116.2

117.8119.2119.0119.5

120.3121.0120.7120.2

Italy

91.294.395 598.297.8

100.0102.1106.9114.8121.6

127.1130.1134.4

119.1120.5122.5124.3

125.7126.5127.7128.5

129.4129.7130.1131.2

133.1133.9134.9135.5

Nether-lands

8889959798

100101103107113

119126129

110114114114

115120120120

123128126126

127131130129

UnitedKingdom

87.892.195 698.599.0

100.0103.4107.8110.0113.6

119.0123.7126.7

111.3113.4114.3115.3

116.4119.3119.8120.6

121.4123.8124.2125.2

125.9126.9126.3127.5

1 Eleven month average except United States.2 For other than United States, data are averages of October and November.Sources: Department of Labor and Organization for Economic Cooperation and Development.

314U.S. GOVERNMENT PRINTING OFFICE: 1968 O — 2 8 4 - 5 9 3


Documents

ERP1968 Appendixes 2