ERP1970 Appendixes 3

Appendix C

STATISTICAL TABLES RELATING TO INCOME,

EMPLOYMENT, AND PRODUCTION

171

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


CONTENTSNational income or expenditure:

C-l. Gross national product or expenditure, 1929-69 177C-2. Gross national product or expenditure, in 1958 prices, 1929-69 178G-3. Implicit price deflators for gross national product, 1929-69 180C-4. Gross national product by major type of product, 1929-69 182C-5. Gross national product by major type of product, in 1958 prices,

1929-69 183C-6. Gross national product: Receipts and expenditures by major economic

groups, 1929-69 184G-7. Gross national product by sector, 1929-69 186G-8. Gross national product by sector, in 1958 prices, 1929-69 187G-9. Gross national product by industry, in 1958 prices, 1947-68 188G-10. Personal consumption expenditures, 1929-69 189C-l 1. Gross private domestic investment, 1929-69 190C-12. National income by type of income, 1929-69 191C-l 3. Relation of gross national product and national income, 1929-69.. . . 192C-14. Relation of national income and personal income, 1929-69 193C-15. Disposition of personal income, 1929-69 194C-l6. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1958 prices, 1929-69 195C-l 7. Sources of personal income, 1929-69 196C-18. Sources and uses of gross saving, 1929-69 198C-19. Saving by individuals, 1946-69 199C-20. Number and money income (in 1968 prices) of families and unrelated

individuals, by race of head, 1947-68 200

Population, employment, wages, and productivity:C-21. Population by age groups: Estimates, 1929-69, and projections,

1970-85 201C-22. Noninstitutional population and the labor force, 1929-69 202C-23. Civilian employment and unemployment, by sex and age, 1947-69. . 204C-24. Selected unemployment rates, 1948-69 205C-25. Unemployment by duration, 1947-69 206C-26. Unemployment insurance programs, selected data, 1940-69 207C-27. Wage and salary workers in nonagricultural establishments, 1929-69. 208C-28. Average weekly hours of work in selected nonagricultural industries,

1929-69 210C-29. Average gross hourly earnings in selected industries, 1929-69 211C-30. Average gross weekly earnings in selected nonagricultural industries,

1929-69 212C-31. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-69 213C-32. Average weekly earnings, gross and spendable, total private non-

agricultural industries, in current and 1957-59 prices, 1947-69. . . 214C-33. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1957-59 prices, 1939-69 215C-34. Indexes of output per man-hour and related data, private economy,

1947-69 216

173372-111 O—70 12


Production and business activity: Page

C-35. Industrial production indexes, major industry divisions, 1929-69. . . . 217C-36. Industrial production indexes, market groupings, 1947-69 218C-37. Industrial production indexes, selected manufactures, 1947-69. . . . . 219C-38. Manufacturing output, capacity, and utilization rate, 1948-69 220C-39. Business expenditures for new plant and equipment, 1947-69 221G-40. New construction activity, 1929^69 222C-41. New housing starts and applications for financing, 1929-69 224C-42. Sales and inventories in manufacturing and trade, 1947—69 226C-43. Manufacturers' shipments and inventories, 1947-69 227G-44. Manufacturers' new and unfilled orders, 1947-69 228

Prices:G-45. Consumer price indexes, by major groups, 1929-69 229C-46. Consumer price indexes, by special groups, 1935-69 230C-47. Consumer price indexes, selected commodities and services, 1935-69. 231C-48. Wholesale price indexes, by major commodity groups, 1929-69 232C-49. Wholesale price indexes, by stage of processing, 1947-69 234

Money supply, credit, and finance:

C-50. Money supply, 1947-69 236C-51. Bank loans and investments, 1930-69 237C-52. Total funds raised in credit markets by nonfinancial sectors,

1961-69 238C-53. Selected liquid assets held by the public, 1946-69 240C-54. Federal Reserve Bank credit and member bank reserves, 1929-69. . . 241C-55. Bond yields and interest rates, 1929-69 242C-56. Short- and intermediate-term consumer credit outstanding, 1929-69. 244C-57. Instalment credit extended and repaid, 1946-69 245C-58. Mortgage debt outstanding, by type of property and of financing,

1939-69 246C-59. Mortgage debt outstanding, by lender, 1939-69. 247C-60. Net public and private debt, 1929-68 248

Government finance:

G-61. Federal budget receipts and outlays, 1929-71 249G-62. Federal budget receipts, outlays, financing, and debt, 1960-71 250C~63. Relation of the Federal Budget to the Federal sector of the national

income and -product accounts, 1968-71 252G-64. Receipts and expenditures of the Federal Government sector of the na-

tional income and product accounts, 1946-71 253C-65. Public debt securities by kind of obligation, 1946-69 254C-66. Estimated ownership of public debt securities, 1939-69 255C-67. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1946-69 256C-68. Receipts and expenditures of the government sector of the national

income and product accounts, 1929-69 257C-69. Receipts and expenditures of the State and local government sector

of the national income and product accounts, 1946-69 258G-70. State and local government revenues and expenditures, selected fiscal

years, 1927-68 259

174


Corporate profits and finance: Page

G-71. Profits before and after taxes, all private corporations, 1929-69 260C-72. Sales, profits, and stockholders' equity, all manufacturing corpora-

tions (except newspapers), 1947-69 261C-73. Relation of profits after taxes to stockholders' equity and to sales, all

manufacturing corporations (except newspapers), by industry group,1948-69 262

C-74. Sources and uses of funds, nonfarm nonfinancial corporate business,1958-68 264

C-75. Current assets and liabilities of United States corporations, 1939-69. 265C-76. State and municipal and corporate securities offered, 1934-69 266C-77. Common stock prices, earnings, and yields, and stock market credit,

1939-69 267C-78. Business formation and business failures, 1929-69 268

Agriculture:

C-79. Income from agriculture, 1929-69 269C-80. Farm production indexes, 1929-69 270C-81. Farm population, employment, and productivity, 1929-69 271C-82. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-69 272C-83. Selected measures of farm resources and inputs, 1929-69 274C-84. Comparative balance sheet of agriculture, 1929-70 275

International statistics:

C-85. United States balance of payments, 1946-69 276C-86. United States merchandise exports and imports, by commodity groups,

1958-69 278C-87. United States merchandise exports and imports, by area, 1963-69. . 279C-88. United States overseas loans and grants, by type and area, fiscal years,

1962-69 280C-89. International reserves, 1949, 1953, and 1964-69 281C-90. United States reserve assets: Gold stock, holdings of convertible foreign

currencies, and reserve position in the International MonetaryFund, 1946-69 282

C-91. Price changes in international trade, 1961-69 283C-92. Consumer price indexes in the United States and other major in-

dustrial countries, 1957-69 284

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:» 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).

175



NATIONAL INCOME OR EXPENDITURETABLE C-l.—Gross national product or expenditure, 1929-69

[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...1968...1969 v.

1967: L -II.111IV.

1968: I . .II.IIIIV.

1969: LII.IIIIV

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

'28478;328.4345.5364.6364.8398.0419.2441.1447.3483.7

503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3

Per-sonalcon-

sump-tion

expend-itures^

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

325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0

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

108.1121.4116.0126.3139.6

Netexports

of goodsand

serv-ices 3

1.1

1.0.5.4.4.6.1.1.3

1.31.1

1.71.3

- 2 . 0- 1 . 8- . 67.5

11.56.46.1

1.83.72.2.4

1.82.04.05.72.2.1

4.05.65.15.98.56.95.35.22.52.1

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

99.6107.6117.1122.5128.7137.0156.8180.1200.3214.7

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

53.557.463.464.265.266.977.890.799.5

102.0

Federal

Nationaldefense5 Other

1.3

1.41.51.52.03.02.94.94.75.4

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

44.947.851.650.850.050.160.772.478.079.3

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

11.813.515.216.817.118.421.522.8

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

46.150.253.758.263.570.179.089.3

100.7112.7

Seasonally adjusted annual rates

774.2783.5800.4816.1

835.3858.7876.4892.5

908.7924.8942.8953.1

480.9489.8495.7502.6

520.6530.3544.9550.7

562.0572.8579.8589.2

113.6109.4117.7123.3

119.4126.6125.2133.9

135.2137.4143.3142.4

5.45.85.63.8

1.93.43.61.2

1.51.62.72.6

174.2178.5181.3186.4

193.4198.4202.5206.7

210.0212.9217.0218.9

87.890.391.393.5

96.399.0

100.9101.9

101.6100.6103.2102.7

69.971.973.074.6

76.177.978.879.3

79.078.580.379.2

17.918.418.418.9

20.121.122.122.5

22.622.122.923.5

86.488.190.092.9

97.199.4

101.7104.8

108.5112.3113.8116.2

1 See Table C-10 for detailed components,a See Table C - l l for detailed components.* See Table C-6 for exports and imports separately.< Net of Government sales.* This category corresponds closely to the national defense classification in the "Budget of the United States Govern-

ment for the Fiscal Year ending June 30,1971."

Source: Department of Commerce, Office of Business Economics.

177


TABLE C-2.—Gross national product or expenditure, in 1958 prices, 1929-69

[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..

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

1960196119621963196419651966196719681969 v

1967: !____II . .III..I

1968: L___I I . . .IllIV.. .

1969: I.I I . . .IllIV*.

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

487.7497.2529.8551.0581.1617.8658.1674.6707.6727.7

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

316.1322.5338.4353.3373.7397.7418.1430.3452.6466.0

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

44.943.949.253.759.066.671.772.880.784.8

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

149.6153.0158.2162.2170.3178.6187.0190.3196.9199.5

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

121.6125.6131.1137.4144.4152.5159.4167.2175.0181.7

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

72.469.079.482.587.899.2

109.3100.8105.7111.9

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

68.967.073.476.781.990.195.493.999.1

104.9

Gross private domestic investment

Fixed investment

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

47.145.549.751.957.866.374.173.675.881.5

Cfriif.

oiruc-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

17.417.417.917.919.122.324.022.622.724.0

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

29.628.131.734.038.744.050.151.053.257.5

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

'ftf18.919.621.725.122.220.220.824.7

21.921.623.824.824.223.821.320.323.323.5

Changein busi-

ness-inven-tories

3.5

— 6-2 A-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

3.52.06.05.85.89.0

13.96.96.66.9


666.5670.5678.0683.5

693.3705.8712.8718.5

723.1726.7730.6730.5

424.4430.5431.9434.3

445.6449.0458.2457.6

462.9466.2466.5468.5

70.373.973.073.9

77.779.583.082.7

84.385.984.784.1

190.2190.6190.3190.2

196.0195.8198.7197.2

199.3199.3199.3200.2

163.9166.1168.6170.3

171.8173.7176.5177.7

179.3181.0182.5184.1

100.595.7

101.6105.4

101.2106.6104.1110.9

109.9110.8114.3112.6

92.092.694.396.7

99.897.697.7

101.4

104.0104.8105.0106.0

74.173.573.173.8

77.174.075.077.3

79.481.082.483.2

23.822.122.322.1

23.622.022.222.9

23.923.324.624.2

50.351.450.851.6

53.552.052.754.4

55.557.757.859.0

17.919.021.223.0

22.723.522.724.1

24.623.822.622.8

8.53.17.48.7

1.59.06.49.6

5.96.09.36.7

See footnotes at end of table.

178


TABLE C-2.-—Gross national product or expenditure, in 1958 prices, 1929-69—Continued


Year or quarter

Net exports of goods and services

Netexports Exports Imports

Government purchases of goods andservices l

Total Federal State andlocal

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. . . .1961196219631964...1965. . .1966—1967.. .1968.. .1969 P .

1967: II I . .III.IV..

1968: I .11..III.IV.

1969: I

1.5

1.4.9.6.0

- L 0- 1 . 2- . 71.91.3

2.1.4

- 2 . 1- 5 . 9- 5 . 8- 3 . 8

8.412.36.16.4

2.75.33.01.13.03.25.06.22.2

4.35.14.55.68.36.24.23.6.9.0

IIIIV

4.04.24.12.0

.91.31.7

- . 2

- . 3- . 5

.4

.3

11.8

10.48.97.17.17.37.78.29.89.9

10.0

11.011.27.86.87.6

10.219.622.618.118.1

16.319.318.217.818.820.924.226.223.123.8

27.328.030.032.136.537.440.242.145.648.4

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

23.022.925.526.628.231.236.138.544.748.4

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

94.9100.5107.5109.6111.2114.7126.5140.0148.4149.8

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

51.454.660.059.558.157.965.474.878.976.1


41.841.942.242.5

43.945.248.045.5

41.950.450.251.3

37.837.838.140.5

43.043.946.345.7

42.250.849.850.9

137.6140.1140.4141.7

145.6148.9148.8150.2

150.6150.2149.4149.0

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

43.545.947.550.153.256.861.165.269.573.7

72.875.175.575.7

77.379.679.279.4

78.376.375.574.4

64.865.064.966.0

68.369.369.670.8

72.373.973.974.7

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

179


TABLE G-3.—Implicit price deflators for gross national product, 1929-69

[Index numbers, 1958=100]

Year or quarter

1929

19301931193219331934193519361937 -19381939

1940 -1941194219431944 -.19451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969 v

1967: 1IIIIIIV

1968: 1IIIIIIV

1969: 1II .IllIV p

Totalgross

national

ucH

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 6105.8107.2108.8110.9113.9117.6122.3128.1

116.2116.9118.1119.4

120.5121.7122.9124.2

125.7127.3129.0130.5

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 9104.9106.1107.4108.8111.5114.4118.6123.6

113.3113.8114.8115 7

116.8118.1118.9120.4

121.4122.9124.3125.8

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 6100.8100.4100.499.698.7

100.3103.3105.7

99.699.5

100.5101.7

102.3102.9103.4104.5

104.9105.5106.0106.6

Non-durablegoods

54.5

51.644.137.738.042.744.544 846.444.043.2

43.847.755 662.566.268.774 383.688 585.6

86 093.394.393 994.293 694 997 7

100.099.9

101.2101 9102.8104.0104.9106.9110.7113.0117.1122.2

112.1112.5113.4114.0

115.3116.7117.5118.8

119.8121.5123.0124.6

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 6109.0110.9113.1115.1118.3122.1127.3133.5

120.6121.5122.5123.7

125.2126.6127.9129.5

131.0132.7134.2135.9

Gross private domestic investment *

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

103.4103.9104.9106.0107.6109.3111.8115.7120.0125.3

113.8114.6116.6117.7

118.0119.6120.8121.7

123.7124.5126.2127.0

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

102.9103.4104.1104.5105.7107.5110.2113.7117.1121.9

112.4112.9114.2115.2

115.7116.7117.6118.4

120.1120.8122.7123.8

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

104.0105.6107.1108.9111.1114.7118.9123.6129.3139.1

121.8122.8124.6125.5

126.5128.7130.6131.4

135.3137.8141.0142.2

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

102.2102.1102.3102.3103.0103.9106.0109.2111.9114.7

107.9108.6109.7110.8

110.9111.6112.1113.0

113.5113.9114.9116.3

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

104.5105.0106.7108.9112.3114.2117.4123.1129.7137.4

119.7121.4124.8125.6

126.0128.7131.5132.4

135.3137.1138.8138.5


180


TABLE C-3.—Implicit price deflators for gross national product, 1929-69—Continued

[Index numbers, 1958=100]

Year or quarter

1929

19301931193219331934 . . .19351936193719381939

1940194119421943194419451946194719481949

19501951 . .195219531954 . .19551956195719581959

19601961.196219631964.1965196619671 9 6 8 . . .1969 v

1967: 1I I . . . . . . .IllIV.. . . . . .

1968: 1IIIIIIV. .

1969: 1.IIIIIIV 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 8100.6101.5104.7107.7109.7110.9114.4

109.7109.6109.7109.8

108.9112.1111.3111.3

113.5113.4115.2115.2

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

101.5103.4105.6106.5107.6110.0

106.9106.3106.8105.9

106.7107.8107.5108.2

109.2109.2110.8110.8

Government purchases of goodsand 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

105.0107.1109.0111.8115.7119.4124.0128.7135.0143.3

126.6127.4129.2131.5

132.8133.3136.2137.6

139.5141.8145.3146.9

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

104.2105.2105.6108.0112.2115.5118.8121.3126.2134.1

120.5120.3121.0123.5

124.5124.5127.4128.3

129.8131.9136.8138.1

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

105.9109.4113.2116.3119.5123.5129.4137.1145.0152.9

133.4135.6138.7140.7

142.3143.4146.2148.1

150.1151.9153.9155.6

Gross national product bysector

Private 2

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

102.8103.7104.7105.8107.0108.8111.6114.8118.9124.2

113.5114.1115.2116.3

117.2118.4119.4120.6

122.0123.6125.0126.4

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

108.6113.6116.6121.5128.4133.5140.3148.1159.4170.6

144.5146.5148.4153.1

155.7156. S161.3163.6

165.6167.5173.7175.3

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 C-7 and C-8.



TABLE C-4.—Gross national product by major type of product, 1929-69


Year orquarter

1929. . . .

19301 9 3 1 . . . .1932. . . .193319341935. . . .193619371938. . . .1939

1940194119421943194419451946. . . .194719481949

19501951195219531954....1955195619571958....1959

1960196119621963196419651966...19671968....1969 p . .

1967: I . . .III I I . .I V . .

1968: I . . .I I .I I I . .I V . .

1969: II I . .I I I .IV v

Totalgrossna-

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

503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3

Finalsales

101.4

90.777.060.557.265.871.281.287.985.690.1

97.5120.1156.2192.2211.1213.0202.1231.8252.9259.6

278.0318.1342.4364.1366.4392.0414.5439.8448.8478.9

500.2518.1554.3584.6626.6675.3735.1786.2858.4924.3

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

3.62.06.05.95.89.6

14.87.47.38.0

Goods output

Total

Total

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

259.6262.3284.5298.6319.4347.2383.3398.4431.1459.9

Finalsales

54.3

47.338.629.228.635.138.844.548.946.248.6

53.868.091.9

12K0133.3129.9118.5140.1149.4150.5

155.6179.4192.5203.7198.6210.4220.7233.3232.3244.4

256.0260.2278.5292.7313.6337.6368.5391.0423.7451.8

° =?C CO

fj-5

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

3.62.06.05.95.89.6

14.87.47.38.0

Durable goods

Total

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

109.0116.1127.0139.6156.7160.9176.7192.3

Finalsales

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

106.2113.3122.8133.0146.2157.0171.4186.1

II|1

1.4

- 1 . 0-1 .2-2 .0- . 5

.1

.3

.9

.8- . 9

.3

1.23.01.0.0

- . 6- 1 . 3

5.31.7.7

-2 .1

4.16.91.1.9

- 2 . 53.02.81.3

- 2 . 82.3

2.1- . 12.82.84.26.7

10.53.95.36.2

Nondurable g

Total

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

160.1165.8175.5182.5192.4207.6226.6237.5254.4267.5

Finalsales

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

158.6163.7172.2179.4190.7204.7222.3234.1252.3265.7

IIC TO

0.3

.7

.1- . 4-1.1- . 9

.7

.31.8.0.1

1.01.4.7

- . 6- . 3

l!l-2.2

4.0-1.0

2.73.42.0

- . 51.02.91.9.0

1.32.4

1.52.13.23.11.63.04.33.52.01.8

Serv-ices

35.6

34.231.727.525.727.128.331.032.333.234.0

35.440.350.362.571.876.568.070.275.780.8

87.0101.2110.8118.8123.5132.6142.3154.2163.4176.2

187.3199.5213.3226.2244.2262.9289.1316.7347. 5377.5

Struc-tures

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

56.858.362.665.768.874.877.578.487.195.0


Grossautoprod-uct

774.2783.5800.4816.1

835.3858.7876.4892.5

908.7924.8942.8953.1

765.2780.2792.6806.6

833.6848.8869.2882.0

902.1917.9932.0945.3

9.03.47.89.5

1.69.97.2

10.5

6.66.9

10.77.8

391.5395.9401.1405.3

414.5429.2437.0443.5

447.9456.5465.9469.0

382.5392.5393.3395.8

412.8419.3429.9433.0

441.3449.6455.2461.2

9.03.47.89.5

1.69.97.2

10.5

6.66.9

10.77.8

156.1159.9162.2165.5

168.3175.7178.8184.0

186.4190.3195.4197.1

151.9158.3157.7160.0

166.4168.9173.7176.6

181.6185.5187.8189.7

4.21.54.45.6

1.96.85.17.4

4.84.97.67.4

235.4236.0238.9239.8

246.2253.5258.3259.5

261.5266.2270.5271.9

230.7234.2235.5235.9

246.5250.4256.1256.4

259.7264.1267.4271.5

4.71.83.43.9

- . 33.12.13.1

1.82.13.1.4

306.4312.0320.1328.4

335.0343.4353.2358.5

365.8373.4381.6389.0

76.375.679.382.4

85.886.086.190.6

94.994.895.395.1

7.28.8

11.9

15.413.512.016.314.621.216.919.514.519.1

21.417.922.525.125.831.830.028.635.936.5

26.128.828.730.9

34.036.336.037.5

37.534.538.035.9


l 8 2


TABLE G-5.—Gross national product by major type o] product, in 1958 prices, 1929-69


Year orquarter

1929...

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

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

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

1960...1961—.1962...1963...1964...1965..1966._1967. .1968. .1969 p.

1967:1 . - . .I I . . .I II . .IV...

1 9 6 8 : 1 . . .I I . . .III. .IV...

1969 :1 . . .I I . .III.IV P.

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

487.7497.2529.8551.0581.1617.8658.1674.6707.6727.7

Final

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

484.495.2523.8545.2575.2608.8644.667.7701.0720.8

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

-2 i06.44.81.2

- 1 . 54.8

3.52.06.05.85.89.0

13.96.96.66.9

Goods output

Total

Total

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

256.0257.3277.3289.7308.6330.7356.8362.7381.3392.7

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

252.6255.3271.3283.9302.8321.7342.9355.7374.7385.7

l l> o

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 .06.44.81.21 5

3.52.06.05.85.89.0

13.96.96.66.9

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

107.0114.2124.6136.5151.8152.0162.8172.4

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

104.1111.4120.4130.1141.9148.5158.0167.1

F2.7

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

.2

.92.41.9

-2 .3.6

2.76.62.9.4

-1 .5-3 .1

8.61.51.2

-3 .0

5.28.01.51.2

-3 .03.43.01.2

-2 .82.4

2.0.0

2.82.84.16.59.83.54.75.3

Nondurable g

Total

70.4

68.067.060.457.161.067.173.579.279.483.0

88.493.4

100.9101.7108.8113.7117.4112.2117.1116.2

119.1124.3129.4134.4133.2139.7142.5143.6147.2153.7

158.2162.3170.3175.6184.1194.2205.1210.7218.6220.3

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

156.7160.3167.2172.5182.3191.6201.0207.3216.7218.6

0.8

1.5.5

-1.1-2.7-2.8

1.5.7

3.6

.'6

2.23.11.2

- . 6- . 4

.21.4

-1.73.3

- . 9

3.12.91.8

- . 2.9

3.01.8.0

1.32.5

1.52.03.3.11.72.64.13.41.91.6

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

176.6184.0193.7200.9210.8221.9236.3249 1259.9267.3

Struc-tures

30.3

25.320.213.79.8

11.112.817.519.117.721.8

23.230.31.917.912.412.927.231.236.37.5

45.244.444.747.050.254.354.052.653.157.0

55.055.858.860.461.665.265.062.966.467.7

Grossautoprod-uct


666.5670.5678.0683.5

693.3705.8712.8718.5

723.1726.7730.6730.5

658.0667.4670.7674.8

691.8696.8706.3709.0

717.2720.7721.3723.8

8.53.17.48.7

1.59.06.49.6

5.96.09.36.7

359.2362.3364.2365.0

370.8380.8385.5388.2

389.1391.6395.9394.1

350.7359.2356.8356.3

369.4371.7379.1378.7

383.2385.7386.6387.5

8.53.17.48.7

1.59.06.49.6

5.96.09.36.7

148.8152.1153.0154.1

156.6162.3164.5167.8

169.0171.4174.7174.6

145.0150.8148.9149.2

154.8156.2159.9161.2

164.8167.3168.1168.3

3.81.34.14.9

1.76.14.56.5

4.24.16.66.3

210.4210.2211.2210.9

214.3218.4221.1220.5

220.2220.2221.2219.5

205.7208.4207.9207.1

214.6215.5219.2217.5

218.4218.4218.5219.2

4.71.83.33.8

- . 32.91.93.0

1.71.92.7.3

244.8246.9251.0253.7

255.4258.9262.4262.7

264.6267.0267.6269.8

62.561.362.964.9

67.166.264.867.5

69.368.067.166.5

10.311.414.8

19.115.913.518.717.124.618.620.214.518.5

21.017.522.024.725.531.830.628.735.134.9

26.629.328.530.4

33.435.635.236.2

36.233.036.434.2


183


TABLE C-6.—Gross national product: Receipts and expenditures by major economic groups,1929-69

(Billions of dollars]

Year orquarter

1929..

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

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

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

1960..1961..1962..1963..1964..1965..1966..1967..1968..

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

350.0364.4385.3404.6438.1473.2511.9546.5590.0

1969* 629.6

Persons

Disposable personalincome

Total i

Less:Inter-

estpaidand

trans-fer

pay-mentsto for-eigners

1 9 6 7 : 1 . . . .I I . . . .I I I . . .I V . . .

1968:1....IL_._I I I . . .IV...

1969:1....IL. . .I I I . . .

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

10.712.013.013.915.016.0

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

342.3356.3376.6394.9427.4461.3498.9532.6575.0613.6

Per-sonal

con-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

325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0

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

17.021.221.619.926.228.432.540.438.437.6

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

139.8144.6157.0168.8174.1189.1213.3228.4264.2302.0

Less:Trans-fers,inter-

est,andsub-

sidies a

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

36.541.342.844.446.749.955.562.870.678.3

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

103.3103.3114.2124.3127.3139.2157.9165.6193.6223.7

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

136.1149.0159.9166.9175.4186.9212.3242.9270.8293.0

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

36.541.342.844.446.749.955.562.870.678.3

Equals:Pur-

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

99.6107.6117.1122.5128.7137.0156.8180.1200.3214.7

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

.3- 1 . 8- 2 . 2

- . 7- 3 . 8

-31.4-44.1-51.8-39.5

5.414.48.5

- 3 . 2

7.85.8

- 3 . 8- 6 . 9- 7 . 0

2.74.9.7

-12.5- 2 . 1

3.7- 4 . 3- 2 . 9

1.8- 1 . 4

2.21.1

-14.5- 6 . 7

9.0


534.4541.6550.3559.8

575.0587.4593.4604.3

610.2622.0639.0647.1

13.514.113.914.1

14.514.815.215.5

15.715.916.116.2

520.9527.5536.4545.7

560.5572.6578.2588.8

594.5606.1622.9630.9

480.9489.8495.7502.6

520.6530.3544.9550.7

562.0572.8579.8589.2

40.037.740.743.1

39.942.333.238.0

32.533.343.141.6

222 0224.5230.2236.9

248.5257.3271.0279.7

294.1302.0303.4

61.961.963.464.0

66.669.772.073.9

75.877.678.980 9

160.1162.5166.7173.0

181.9187.6199.1205.8

218.3224.4224.4

236.1240.4244.8250.4

260.0268.1274.5280.6

285.9290.6296.0299.7

61.961.963.464.0

66.669.772.073.9

75.877.678.980.9

174.2178.5181.3186.4

193.4198.4202.5206.7

210.0212.9217.0218.9

-14.1-16 .0-14.6-13.4

-11.5-10.8- 3 . 5- . 9

8.311.47.4

See footnotes at end of table.184


T A B L E G-6.—Gross national product: Receipts and expenditures by major economic groups,1929-69—Continued


Yearor

quarter

192919301931193219331934193519361937193819391940 -194119421943 .1944 . .19451946194719481949195019511952195319541955195619571958 . . . .19591960196119621963__1964196519661967— _ .19681969*

1967: L_IIIII...IV

1968: 1IIIII... _ . . .IV

1969: 1I I . . .IIIIV v

Grossre-

tainedearn-ings 3

11.28.65.33 23.25.26.46 77.78.08.4

10.511 414.516.317.115 114.520.228.029.729.433.135.136.139.246.347.349.849.456.856.858.766.368.876.284.791.393.396.798.6

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

108.1121.4116.0126.3139.6

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- 1 3 . 8- 1 8 . 0- 6 . 0

- 2 4 . 7- 2 6 . 2- 1 6 . 8- 1 6 . 5- 1 2 . 5-21 .1- 2 2 . 8- 1 8 . 1- 1 1 . 5- 1 8 . 5- 1 8 . 0- 1 3 . 0- 1 6 . 8- 1 8 . 4- 1 7 . 8- 2 3 . 4- 3 0 1-22 .7- 2 9 6- 4 1 . 0

International

Trans-fers to

for-eignersby per-

sonsandGov-ern-ment

0.4.3.3.2.2.2.2.2.2.2.2.2.2.2.2.38

2 92.64.55.64.03.52.52.52.32.52.42 32.42.42.42 62.72.82.82.82 83.02.92.6

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

14.719.716.815.813.818.718.016.917.819.823.626.523.123.527.228.630.332.337.139.243 446.250.655.4

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

12.015.115.816.615.917.819.620.820.923.323.223 025.126.428.632.338 141 048.153.3

Equals:Netex-

ports

1.11.0.54

.4

.6

.11

.31.31.11.71 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 35.22.52.1

Excessof

trans-fersor

of netex-

ports<-)«

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

.111

- 1 . 1- . 9

- 1 . 5- 1 1

22.22.11 4

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

- . 2.3

2 15

.5- 1 . 5- 3 4

.22.3

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

.3

.6

Totalincomeor re-ceipts

102.491.275.157.755.064.572.581.390.584.189.298.7

124.1159.0193.6207.6208.0208.4230.4259.5256.2283.3325.1343.3361.6362.1395.9420.4441.1445.8484.5504.8520.8559.8590.8633.7688.0750.9794.5868.2938.5

Statis-ticaldis-crep-ancy

0.7- . 8

.7

.3

.6

- . 21 2

*.6

1.31.0.4

- 1 . 1- 2 . 0

2.53 9.1.9

- 2 . 0.3

1.53.32.23.02.72.1

- 1 . 1*

1.6- . 8

- 1 . 0- . 8

.5- . 3

- 1 . 3- 3 . 1

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

Grossna-

tionalprod-uct

or ex-pendi-ture

103.190.475.858.055.665.172.282.590.484.790.599.7

124.5157.9191.6210.1211.9208.5231.3257.6256.5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3


91.691.993.895.9

92.197.299.398.3

97.798.099.7

113.6109.4117.7123.3

119.4126.6125.2133.9

135.2137.4143.3142.4

- 2 1 . 9- 1 7 . 5- 2 3 . 9- 2 7 . 4

- 2 7 . 3- 2 9 . 4- 2 6 . 0-35 .7

- 3 7 . 5- 3 9 . 4- 4 3 . 6

2.83.33.32.6

2.52.83.13.1

2.42.82.62.7

45.845.946.346.7

47.750.753.450.6

47.657.157.859.1

40.440.140.742.8

45.947.349.749.4

46.155.555.256 4

5.45.85.63.8

1.93.43.61.2

1.51.62.72 6

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

.7- . 6- . 61.9

1.01.2.01

775.4785.2800.3817.2

837.1860.2879.6895.9

912.9931.3949.7

- 1 . 2- 1 . 7

.1- 1 . 1

- 1 . 8- 1 . 6- 3 . 3- 3 . 4

- 4 . 2- 6 . 5- 6 . 9

774.2783.5800.4816.1

835.3858.7876.4892.5

908.7924.8942.8953.1

> 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.* Private business investment, purchases of capital goods by private nonprofit institutions, and residential housing.

See Table C- l l .5 Net foreign investment with sign changed.Note.—Corporate profits tax and related items for 1969 reflect repeal of investment tax credit.Source: Department of Commerce, Office of Business Economics.

185


TABLE C-7.—Gross national product by sector, J929-69


Year orquarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966. . .1967. . .19681969*

1967:1||IIIIV

1968:1IIIIIIV

1969:1IIIIIIV 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

503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3

774.2783.5800.4816.1

835.3858.7876.4892.5

908.7924.8942.8953.1

Gross private productl

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

456.3469.2505.7532.4569.4617.1673.3708.2770.5828.2

692.0699.5714.2727.1

743.9764.9779.2794.0

808.5822.7836.5845.2

Business

Total

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

440.7452.3487.4513.0548.2594.4648.9681.0740.6795.4

Nonfarm2

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

420.2431.4466.2491.5527.6570.8624.0656.6715.7768.4

Farm

9.7

7.76.34.54.64 77.06.48.36.66.3

6.58.9

13.015.315.315.918.820.223.318.8

20.022.922.220.319.618.818.618.420.819.6

20.520.921.221.520.623.724.924.424.927.0

Seasonally adjusted annual rate

665.9673.0686.4698.6

715.4734.6749.3763.1

776.7790.5803.6810.8

642.1648.6661.7673.9

690.5709.8724.1738.4

751.1763.0775.9783.8

23.824.424.724.7

24.924.825.224.7

25.727.627.726.9

House-holdsand

institutions

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

13.214.015.016.017.318.520.222.725.228.6

5

22.022.522.923.4

24.325.425.026.0

27.228.328.930.0

Rest ofthe world

0.8

75

.4

.334

.3343

444

.4

.44

.6

.81.01.0

1.21 31.31.31.61.82.12.22.02.2

2.42.93.33.44.04.24.14.54.74.2

4.14.04.95.1

4.34.94.94.9

4.53.94.14.4

Grossgovern-

mentproduct 3

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

47.550.954.758.163.067.876.685.395.2

104.1

82.284.086.289.0

91.393.897.198.5

100.2102.1106.2107.9

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

ernment whose operating costs are 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. The Post Office and publicpower systems are examples of government enterprises; on the other hand, State universities and public parks are part ofgeneral government activities.

s Compensation of general government employees.


186


TABLE C - 8 — Gross national product by sector, in 1958 prices, 1929-69


Year orquarter

1929..

1930..1931..1932..1933..1934..1935..1936.1937.1938.1939.

1940.1941.1942.1943.1944.1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.1955.1956.1957.1958.1959.

1960. . .1961 . . .1962 . . .1963 . . .1964 . . .1965 . . .1966. . .1967. . .1968. . .1969 p . .

1967: lI

:I I . .III.IV..

1968: !.

III.IV.

1969:1.I I . .III..IV p

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

487.7497.2529.8551.0581.1617.8658.1674.6707.6727.7

Gross private product i

Tntali oiai

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

444.0452.3482.9503.2532.0567.0603.5617.0647.9666.7

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

429.5436.9466.7486.6514.4548.9584.9597.3627.5645.3

Business

Nonfarm2

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

407.6414.8444.6463.8492.1525.2562.5573.5604.2621.8

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

21.922.222.122.822.323.722.423.723.323.5

House-holdsand

institutions

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

12.212.412.913.213.714.014.615.415.917.3

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

1.11.2L.2

1.31.21.2L.31.61.82.02.12.02.2

2.32.93.43.43.94.13.94.34.54.0


Grossgovern-

mentproducts

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

43.744.846.947.849.150.854.657.659.761.0

666.5670.5678.0683.5

693.3705.8712.8718.5

723.1726.7730.6730.5

609.6613.1619.9625.4

634.6646.1652.6658.3

662.6665.8669.4668.9

590.6593.9599.7604.8

615.0625.3632.1637.5

641.5644.8648.2646.9

567.3570.0575.9581.1

591.0602.3608.8614.6

617.8621.1624.1624.3

23.324.023.923.7

24.023.023.422.9

23.723.724.122.6

15.115.415.515.7

15.516.115.716.2

16.817.217.417.8

3.93.84.74.9

4.14.74.74.6

4.33.73.94.2

56.957.358.158.1

58.759.860.260.2

60.560.961.161.6

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 to a substantial extent covered by the sale of goods and services, in contrast to the generalactivities of government, which are financed mainly by tax revenues and debt creation. The Post Office and public powersystems are examples of government enterprises; on the other hand, State universities and public parks are part of gen-eral government activities.

3 Compensation of general government employees.


187


TABLE G-9.—Gross national product by industry•, in 1958 prices, 1947-68


Year

194719481949 .

19501951 . . .195219531954 .

19551956195719581959 . .

196019611962 . . . .19631964

1965196619671968

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

617.8658.1674.6707.6

Agri-culture,fores-tsandfish-eries

17.920.019.4

20.419.520.221.221.6

22.122.021.522.022.3

23.123.423.324.023.6

25.023.725.024.6

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

23.524.723.123.8

Manufacturing

Total

91.896.390.9

105.5116.2118.7128.6119.5

133.6134.1134.6123.7138.9

140.9140.4154.6162.4173.7

190.5205.7205.6220.6

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

114.8125.1124.4133.3

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

75.780.781.̂ 387.2

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

59.264.066.570.4

VA/hnlo

saleandretailtrade

52.754.255.2

60.461.462.964.965.5

71.673.875.175.180.8

82.383.588.992.898.9

104.8111.6113.9119.9

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

83.186.891.395.8

Serv-ices

30.631.932.1

33.134.034.535.335.4

38.240.241.842.945.1

46.748.350.852.254.7

57.760.663.665.9

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

58.061.865.568.6

Allother»

6.77 1

10.6

12.113.014.014.313.5

14.412.713.116.014.1

14.716.317.917.417.8

15.819.420.017.6

i Mining, rest of the world, and residual (the difference between gross national product measured as sum of final prod-ucts and gross national product measured as sum of gross product by industries).


188


TABLE C-10.—Personal consumption expenditures, 1929-69


Yearor

quarter

1929....

1930...193119321933._1934...1935....1936....1937....1938....1939

194019411942....1943194419451946....1947....1948....1949

195019511952.. . .195319541955195619571958[959

I960. . . .19611962~"I1963.- . .19641965.".'..1966196719681969 p . .

1967:1.-II.IllIV

1968: 1..II.IllIV

1969:1.IIIIIIV

tion

Q.

Is

Pa.

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 2432.8466.3492.3536.6576.0

Durable goods

is

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

45.344.249.553.959.266.370.873.083.389.6

COQ .

•a

Io

3

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

20.118.422.024.325.830.330.330.537.040.3

i

IsifI1

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

18.919.320.522.225.026.929.931.334.235.9

aJEL

O

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

10.511.212.113.4

Nondurable goods

"oh-

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

151.3155.9162.6168.6178.7191.1206.9215.1230.6243.8

gco

. Q

£=CO

1

19.5

18.014.711.411.514.216.218.419.918.919.1

20.223.428.433.236.740.647.452.354.252.5

53.960.463.464.465.467.269.973.676.478.6

80.582.985.788.292 998.8

105.8108.1115.0120.0

1

.=1c"oo

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

27.327.929.630.633.535.940.342.546.349.9

oTJ{=

|

s

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

12.312.412.913.514.015.316.617.719.121.3

a>

O

7.0

6.35.74.84.65.25.45.96.36.26.7

7.18.09.3

10.611.713.013.815.717.517.7

19.221.121.722.722.624.025.427.128.230.1

31.232.734.436.338.241.144.446.850.152.7

I30.3

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 3175.5188.6204.2222.8242.5

DOC

|

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

46.348 752.055.459 363.567.571.877.483.7

Service:

olo

0>CO3O

X

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

20.020.822.023.124.325.627.129.131.233.5

>

12

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

10.810.611.011.411.612.613.614.716.117.5

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

51.654.958.062.568 173.880.488.698.1

107.8


480.9489.8495.7502.6

520.6530.3544.9550.7

562.0572.8579.8589.2

70.073.573.375.2

79.581.885.886.3

88.490.689.889.6

28.431.330.931.2

34.835.638.639.0

39.440.040.840.9

30.731.231.232.2

33.433.835.034.6

35.536.835.835.6

10.911.011.211.7

11.312.412.112.8

13.613.813.213.1

213.2214.4215.8216.8

226.1228.5233.3234.3

238.6242.1245.1249.4

107.8107.6108.1108.9

112.6114.8116.1116.4

118.4119.1119.9122.6

41.742.642.942.7

45.045.647.447.3

48.150.050.850.6

17.317.517.918.1

18.918.819.519.5

20.421.021.822.0

46.446.746.847.1

49.649.450.351.1

51.852.052.754.2

197.7201.8206.6210.6

215.1220.0225.8230.1

235.0240.1244.9250.2

70.171.172.373.7

75.276.777.979.8

81.382.884.486.3

28.229.029.330.1

30.530.731.631.9

32.733.133.934.2

14.414.514.815.0

15.515.916.316.5

17.117.317.717.9

85.087.290.391.8

93.896.7

100.0101.8

103.9106.9108.8111.8

1 Includes standard clothing issued to military personnel.2 Includes imputed rental value of owner-occupied dwellings.Source: Department of Commerce, Office of Business Economics.

3 7 2 - 1 1 1 O — 7 0 l 8 9


TABLE C-ll.—Gross private domestic investment, 1929-69


Year orquarter

1929..

1930..1 9 3 1 -1932..1933-1934..1935..1936..1937..1938..1939..

1940..1941..1942..1 9 4 3 -1944..1945..1946..1947..1948..1949-

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

1960..1961..1962..1963..1964..1965..1966..1967..1968..1969 P

1967: I

III."IV._

1968: II I . .I I I . .IV..

1 9 6 9 : I . . .I I . .I I I .

Totalgrossprivate

domesticinvest-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

108.1121.4116.0126.3139.6

Fixed investment

Total

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

71.369.777.081.388.298.5

106.6108.6119.0131.5

Nonresidential

Total

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

48.447.051.754.361.171.381.683.788.899.3

Structures

Total

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

18.118.419.219.521.225.528.527.929.333.4

Non-farm

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

17.417.718.518.820.524.927.827.228.632.6

Producers'durable

equipment

Total

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

30.328.632.534.839.945.853.155.759.565.9

Non-farm

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

27.725.829.431.236.341.648.450.954.661.4

Residential structures

Total

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

(193)17.217.218.019.723.321.620. 2-20,825.5

22.822.625.327.027.127.225.025.030.232.2

Non-farm

3.8

2.21.6.7.5.8

1.11.51.81.92.8

3.23.71.91.21.11.46.7

10.413.612.8

18.616.416.417.219.022.720.919.520.124.8

22.222.024.826.426.626.724.524.429.631.7

Farm

0.2

Change inbusiness

inventories

Total

1.7

- . 4-1 .1- 2 . 5-1 .6

l!l1.32.5

- . 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

3.62.06.05.95.89.6

14.87.47.38.0


Non-farm

113.6109.4117.7123.3

119.4126.6125.2133.9

135.2137.4143.3142.4

104.7106.1109.9113.8

117.7116.7118.0123.4

128.6130.5132.5134.5

83.383.083.585.0

89.186.488.191.5

95.397.8

101.1103.0

29.027.227.827.8

29.828.329.030.1

32.332.134.734.4

28.326.427.027.0

29.027.628.329.3

31.631.434.033.6

54.255.855.757.2

59.458.159.161.4

63.065.766.468.6

49.650.950.852.3

54.253.154.356.7

58.761.062.463.6

21.423.126.528.8

28.630.329.931.9

33.332.731.431.6

20.922.525.928.3

28.029.729.431.4

32.832.230.931.0

0.6.6.6.6

.6

.6

.5

.5

.5

.5

.5

.5

9.03.47.89.5

1.69.97.2

10.5

6.66.9

10.77.8

1.8

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

.2

.42.11.7

-1 .0.3

1.94.0.7

- . 6- . 6- . 66.41.33.0

-2 .2

6.09.12.11.1

- 2 . 15.55.1.8

- 2 . 34.8

3.31.75.35.16.48.6

15.06.87.47.8

9.13.07.08.0

1.310.37.5

10.7

6.66.7

10.37.6



TABLE G-12.—National income by type of income, 1929-69


Year orquarter

1929

1930193119321933193419351936193719381939

1940 . . .19411942 . .194319441945 .1946194719481949

195019511952 . . .19531954195519561957 . . .19581959

196019611962196319641965196619671968 . . .1969 v

1967' 1| |IIIIV...

1 9 6 8 : 1 - - -IIM L .IV

1969: 1III I I . .IV v

Totalna-

tionalin-

come1

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

414.5427.3457.7481.9518.1564.3620 6654.0714.4771.5

639.3646 2658.5672.0

688.8707.4724.1737 3

751.3765 7780.6

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

294.2302.6323.6341.0365.7393.8435 5467.4513.6564.2

456.2461 1470.7481.7

495.1507.0519.8532 3

546.0558 2571.9580.9

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

270.8278.1296.1311.1333.7358.9394.5423.5465.0509.8

413.2417.7426.5436.5

448.2459.0470.7482 1

493.3504 3516.9524 8

Sup-ple-

mentsto

wagesand

sala-ries2

0.7

.7

.6

.6

.5

.6

.61.01.82.02.2

2.32.73.23.84.55.65.95.95.86.5

7.89.6

10.210.911.513.215.217.317.920.9

23.424.627.529.932.035.041.043.948.654.4

43.043 444.245.1

47.048.049.150 2

52.753 855.056 1

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

34.235.637.137.940.242.445.247.249.250.2

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

34.335.637.137.940.342.845.647.549.951.1

Inven-toryvalu-ation

adjust-ment

0.1

.8

.6

.3- . 5

*- . 1

*.2- . 2

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

- 1 . 7- 1 . 5- . 4

.5

- 1 . 1- . 3

2

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

**••

- . 1- . 4- . 4- . 3- . 7- . 9

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

12.012.813.013.112.114.816.114.714.616.1

Rentalin-

comeof

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

15.816.016.717.118.019.020.020.821.221.6


46.547 147.847.5

48.449.249.349 7

49.750 150.550 4

14.314.714.814.9

14.814.314.814.4

14.916.416.816.3

20.620.820.921.0

21.121.221.221.4

21.521.621.721.8

Corporate profitsand inventory

valuationadjustment

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

49.950.355.758.966.376.182.479.287.988.7

78.378.379.181.1

82.588.290.690.3

89.589.288.8

Corpo-rate

profitsbeforetaxes <

10.0

3.7

-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

49.750.355.459.466.877.884.280.391.194.3

78.479.179.584.4

87.990.791.594.5

95.595.492.5

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

.3- . 5

-~L7- 1 . 8- 1 . 1- 3 . 2- 5 . 6

- 0 . 1- . 7- . 4

- 3 . 3

- 5 . 3- 2 . 6- . 9

- 4 . 2

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

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

8.410.011.613.815.818.221.424.728.030.6

23.524.325.125.9

26.727.528.429.3

29.830.330.931.6

» 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 C 13.

> 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 C-71 for corporate tax liability and profits after taxes.Source: Department of Commerce, Office of Business Economics.


TABLE C-13.—Relation of gross national product and national income, 1929-69


Year or quarter

Grossna-

tionalprod-

uct

Less:Capital

con-sump-

tionallow-ances

Equals:Netna-

tionalprod-

uct

Plus:Sub-sidies

lesscurrentsurplusof gov-

ern-mententer-prises

Less:

Indirect business taxes

Total FederalStateandlocal

Busi-ness

transferpay-

ments

Sta-tistical

dis-crep-ancy

Equals:Na-

tionalincome

1929..

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

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

1950..1951..1952..1953..1954.1955.1956.1957.1958.1959.

1960...1961...1962...1963...1964...1965—1966...1967...1968...1969 v_

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

503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3

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

1968: I . . .II...III..IV..

1969: I . . .II...III..IV p.

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

43.445.250.052.656.159.863.968.673.377.9

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

460.3474.9510.4537.9576.3625.1685.9725.0792.4854.4

- 0 . 1

- . 1

.9

.9

.21.41.4.8

1.31.32.31.4.8

1.1

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

45.247.751.554.758.462.565.770.177.986.6

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

13.513.614.615.316.116.515.716.318.018.8

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. £27.028.9

31.734.136.939.442.345.949.953.859.967.8

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

1.92.02.12.32.52.73.03.23.43.6

0.7

- . 8.7.3.6.5

- . 21.2

*.6

1.31.0.4

- 1 . 1- 2 . 0

2.53.9

- 2 . 0.3

1.53.32.23.02.72.1

- 1 . 1

1.6

- 1 . 0- . 8

.5- . 3

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


774.2783.5800.4816.1

835.3858.7876.4892.5

908.7924.8942.8953.1

66.867.969.270.4

71.773.073.774.6

75.977.278.679.9

707.4715.6731.2745.7

763.6785.6802.6817.9

832.8847.6864.2873.2

1.71.21.41.2

.6

.71.1.9

1.1.9

1.11.3

67.969.270.872.7

73.977.079.481.4

83.385.788.089.3

15.916.216.516.7

17.417.918.318.5

18.518.619.118.9

52.053.054.355.9

56.559.261.162.9

64.867.168.970.4

3.13.23.23.3

3.33.43.43.5

3.53.63.63.6

- 1 . 2- 1 . 7

.1- 1 . 1

- 1 . 8- 1 . 6- 3 . 3- 3 . 4

- 4 . 2- 6 . 5- 6 . 9

86.8

75.459.742.840.349.557.265.073.667.472.6

81.1104.2137J170.3182.6181.5181.9199.0224.2217.5

241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0

414.5427.3457.7481.9518.1564.3620.6654.0714.47(71.5

639.3646.2658.5672.0

688.8707.4724.1737.3

751.3765.7780.6


192


T A B L E G-14.—Relation of national income and personal income, 1929—69


Year or quarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

195019511952 . . . .1953195419551956 .195719581959

196019611962196319641965196619671968 - -1 9 6 9 P

1967: 1II.IllIV _

1968: LIIIIIIV

1969: 1IIIIIIV P

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

414.5427.3457.7481.9518.1564.3620.6654.0714.4771.5

639.3646.2658.5672.0

688.8707.4724.1737.3

751.3765.7780.6

Less:

Corpo-rate

profitsand in-ventory

valuationadjust-ment

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

49.950.355 758.966.376.182.479 287.988.7

78.378.379 181.1

82.588 290.690.3

89.589.288 8

i

Contri-butions

forsocialinsur-ance

0.2

3.3.33

.3

.3

.61 82.02.1

2 32.83.54 55.26.16 05 75.25.7

6.98 28.78.89 8

11.112.614 514.817.6

20.721.424.026.927.929.638.042.447.054.4

Wageaccruals

lessdis-

burse-ments

0 0

00

.000

.0

.00

.0

.0

.0

.0

.0

- . 2.00

.0

.0.0

.01

.0- . 1

0.0.0.0.0.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

Plus:

Gov-ernmenttransferpaymentsto 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

26.630.431.233.034.237.241.148.855.861.9

Interestpaidby

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

15.115.016.117.619,120.522.223.626.128.7


41.142.042 843.7

45.446 547.648.6

52.753.855 156.1

0.0.0.0.0

.0

o.0.0

.0

.0o.0

47.648.449.050.0

52.955 356.758.1

60.161.362 563.6

23.423.023.624.3

25.025 726.427.4

27.928.528 929.5

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

13.413.815.216.517.819.820.821.523.124.6

21.121.722.021.1

22.222 923.623.8

23.824.324 925.2

Busi-ness

transferpay-

ments

0.6

.5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

.5

.5

.5

.5

.5

.5

.6

.7

.8

.8

.91.01.21.11.21.41.51.61.7

1.92.02.12.32.52.73.03.23.43.6

3.13.23 23.3

3.33 43.43.5

3.53.63 63.6

Equals:

Personaincome

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

401.0416.8442.6465.5497.5538.9587.2629.4687.9747.1

615.2622.2634.5645.9

664.3680 1696.1711.2

724.4740.5756 5766.9


193


TABLE C-15.—Disposition of personal income, 1929-69

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

Billions of dollars Percent

1929.

1930....1931....1932....1933 ...1934....19351936193719381939

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

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

I960....1961196219631964....1965....1966196719681969 v

1967: I..II...M L .IV...

1968: I...II..III..IV..

1969: I...

IV p.

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

401.0416.8442.6465.5497.5538.9587.2629.4687.9747.1

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

50.952.457.460.959.465.775.482.997.9

117.5

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

350.0364.4385.3404.6438.1473.2511.9546.5590.0629.6

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

333.0343.3363.7384.7411.9444.8479.3506.2551.6592.0

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

325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0

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

10.111.312.413.114.215.3

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

.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

17.021.221.619.926.228.432.540.438.437.6

615.2622.2634.5645.9

664.3680.1696.1711.2

724.4740.5756.5766.9

80.880.684.186.1

89.392.7

102.6107.0

114.2118.5117.5119.8

534.4541.6550.3559.8

575.0587.4593.4604.3

610.2622.0639.0647.1

494.5503.9509.7516.6

535.1545.1560.2566.2

577.7588.8596.0605.5

480.9489.8495.7502.6

520.6530.3544.9550.7

562.0572.8579.8589.2

12.913.013.213.4

13.714.014.414.7

15.015.215.415.5

0.61.1.7.6

.7

.7

.8

.7

.7

.7

.8

.7

40.037.740.743.1

39.942.333.238.0

32.533.343.141.6

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

95.194.294.495.194.094.093.692.693.594.0

92.593.092.692.3

93.192.894.493.7

94.794.793.393.6

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

92.992.092.292.791.691.591.190.191.091.5

90.090.490.189.8

90.590.391.891.1

92.192.190.791.1

5.0

4.64.1

- 1 . 3- 2 . 0

.73.75.45.31.13.7

5.111.823.625.025.519.79.54.37.15.0

6.37.67.67.26.45.77.06.77.05.6

4.95.85.64.96.06.06.47.46.56.0

7.57.07.47.7

6.97.25.66.3

5.35.36.76.4


194


TABLE C-16.—Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 prices, 1929—69

Year or quarter

Disposable personal income

Total (billionsof dollars)

Currentprices

1958prices

Per capita(dollars)

Currentprices

1958prices

Personal consumption expenditures

Total (billionsof dollars)

Currentprices

1958prices

Per capita(dollars)

Currentprices

1958prices

Popu-lation(thou-

sands) i

1929. .

1 9 3 0 -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 . .1968. .1969 v.

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

1968: I . . .II . . .III..IV..

1969: I . . .II...III.IV»».

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

350.0364.4385.3404.6438.1473.2511.9546.5590.0629.6

150.6

139.0133.7115.1112.2120.4131.8148.4153.1143.6155.9

166.3190.3213.4222.8231.6229.7227.0218.0229.8230.8

249.6255.7263.3275.4278.3296.7309.3315.8318.8333.0

340.2350.7367.3381.3407.9435.0458.9477.7497.6509.4

683

605516390362414459518552504537

573695867976

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

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

1,9371,9832,0642,1362,2802,4322,5992,7452,9333,098

1,236

1,1281,077921893952

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

1,8831,9091,9682,0132,1232,2352,3312,3992,4742,507

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

325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0

139.6

130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2

155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5

230.5232.8239.4250.8255.7274.2281.4288.2290.1307.3

316.1322.5338.4353.3373.7397.7418.1430.3452.6466.0

634

567487389364406437483516492510

536604656726782855

1,0141,1151,1841,185

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

1,8001,8241,9021,9802,0882,2242,3682,4722,6682,834

1,145

1,0591,016919897934985

1,0801,1101,0791,131

1,1781,2401,1971,2131,2381,3081,4391,4311,4381,451

1,5201,5091,5251,5721,5751,6591,6731,6831,6661,735

1,7491,7551,8131,8651,9452,0442,1232,1612,2502,293

534.4541.6550.3559.8

575.0587.4593.4604.3

610.2622.0639.0647.1

471.6476.0479.4483.7

492.1497.4498.9502.1

502.6506.2514.1514.5


2,6942,7242,7602,799

2,8692,9242,9462,991

3,0143,0653,1403,171

2,3782,3942,4042,419

2,4552,4762,4772,485

2,4822,4942,5262,521

480.9489.8495.7502.6

520.6530.3544.9550.7

562.0572.8579.8589.2

424.4430.5431.9434.3

445.6449.0458.2457.6

462.9466.2466.5468.5

2,4252,4632,4862,513

2,5972,6402,7052,726

2,7762,8222,8492,887

2,1402,1652,1662,172

2,2232,2352,2752,265

2,2862,2972,2922,295

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

180,684183,756186.656189,417192,120194,592196,907199,114201,152203,216

198,349198,845199,417199, 996

200,425200,899201,450202,015

202,472202,964203,507204,093

i Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960.Annual data are for July 1; quarterly data are for middle of period, interpolated from monthly data.

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

195


TABLE C-17.—Sources of personal income, 1929-69


Year or quarter

1929

1930193119321933193419351936193719381939 . . .

1940194119421943194419451946194719481949

1950195119521953195419551955195719581959

I960196119621963 - -196419651966196719681969P .

1967' 1 - -II .III.IV

1968* 1IIIIIIV

1969: I . .IIIIIIV v

Totalper-

sonalincome

85.9

77.065.950.247.054.060.468.674.168.372.8

78.396.0

122.9151.3165.3171.1178.7191.3210.2207.2

227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5

401.0416.8442.6465.5497.5538.9587.2629.4687.9747.1

615.2622.2634.5645.9

664.3680.1696.1711.2

724.4740.5756.5766.9

Wage and salary disbursementsl

Total

50.4

46.239.130.529.0

•33.736.741.946.143.045.9

49.862.182.1

105.6116.9117.5112.0123.0135.3134.6

146.7171.0185.1198.3196.5211.3227.8238.7239.9258.2

270.8278.1296.1311.1333.7358.9394.5423.5465.0509.8

413.2417.7426.5436.5

448.2459.0470.7482.1

493.3504.3516.9524.8

Commodity-producingindustries

Total

21.5

18.514.39.99.8

12.113.515.818.415.317.4

19.727.539.148.950.345.846.054.361.057.7

64.676.181.889.485.492.8

100.2103.899.7

109.1

112.5112.8120.8125.7134.1144.5159.3166.5181.5197.7

164.5163.9167.2170.6

175.7179.3183.0187.8

191.5196.5200.5202.1

Manu-factur-

ing

16.1

13.810.87.77.89.6

10.812.414.611.813.6

15.621.730.940.942.938.236.542.547.244.7

50.359.464.271.267.673.979.582.578.786.9

89.789.896.7

100.6107.2115.6128.1134.2145.9157.5

Distrib-utive

indus-tries

15.6

14.512.59 88.89.9

10.711.813.212.613.3

14.216.318.020.122.724.831.035.237.637.7

39.944.346.949.850.253.457.760.560 864.8

68.169.172.576.081.286.993.8

100.3109.2119.5

Serviceindus-tries

8.4

8.07.15.85.25.75.96.57.16.87.1

7.58.19.09.9

10.912.014.416.117.918.6

19.921.723.325.126.428.931.633.935.938.7

41.544.046.849.954.158.363.770.578.388.1

Gov-ern-ment

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

48.752.256.059.564.369.377.786.296.0

104.5


132.3132.3134.6137.4

141.2144.2147.4150.7

153.3156.6159.9160.3

97.999.4

101.0102.7

105.1107.9110.8113.1

115.5118.3121.1123.2

67.869.771.472.9

75.177.378.982.0

85.487.188.791.2

83.084.786.990.3

92.394.597.999.2

100.8102.4106.6108.4

Otherlabor

in-come1

0.6

.6

'5.4.4.5.6.66

.6

.7

.7

.91.11.51.81.92.32.73.0

3.84.85.36.06.37.38.49.59 9

11.3

12.012.713.914.916.618.720.722.124.226.2

21.821.922.322.6

23.423.924.525.0

25.526.026.426.9

Propriinco

Busi-nessand

profes-sional

9.0

7 65.83 63 34.75.56.77.2

" 6 9.7.4

8 611.114.017 018.219.221.620.322.722.6

24.026.127.127.527 630.331.332.833 235.1

34.235 637.137.940.242.445.247.249.250.2

46.547.147.847.5

48.449.249.349.7

49.750.150.550.4

e tors'me

Farm 2

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 41L4

12.012 813.013.112.114 816.114.714.616.1

14.314.714.814.9

14.814.314.814.4

14.916.416.816.3


I96


TABLE C—17.—Sources of personal income, 1929—69—Continued


Year orquarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

195019511952195319541955195619571958 -. .1959

I96019611962 . . .196319641965 _19661967. . . .19681969 v

1967: L. .IIIIIIV

1968: 1IIIIIIV

1969: 1IIIII . . . .IV p . . . .

Rentalincomeof 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

15.816.016.717.118.019.020.020.821.221.6

20.620.820.921.0

21.121.221.221.4

21.521.621.721.8

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

13.413.815.216.517.819.820.821.523.124.6

21.121.722.021.1

22.222.923.623.8

23.824.324.925.2

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

23.425.027.731.434.938.743.648.354.159.3

46.847.348.750.2

51.753.254.856.7

57.658.859.861.1

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

28.532.433.335.336.739.944.152.059.265.5

50.751.652.253.3

56.358.760.161.6

63.664.966.167.2

Transfer payments

Old-age,survivors,disability,and healthinsurancebenefits

***

*0.1.1.2.2.3.4.5.6.7

1.01.92.23.03.64.95.77.38.5

10.2

11.112.614.315.216.018.120.825.730.333.1

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

2.84.02.92.82.62.21.82.12.12.1

Vet-erans'

benefits

0.6

.61.6.8.5.4.5

1.9.6.5.5

.5

.5

.5

.5

.92.86.76.75.85.1

4.93.93.93.73.94.34.34.44.64.6

4.64.84.85.05.35.65.76.67.28.2

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

10.010.911.212.212.914.015.717.619.722.0


24.525.826.026.4

28.230.330.931.8

32.432.933.333.7

2.12.12.22.0

2.21.92.12.0

2.21.92.22.2

6.56.56.56.8

7.17.27.17.3

7.88.28.48.6

17.717.117.518.1

18.919.420.020.5

21.321.922.222.6

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

10.311.812.513.417.720.622.626.2

19.820.420.821.2

21.822.422.923.3

25.425.926.627.0

Non-agricul-

turalpersonalincome3

77.6

70.860.846.743.249.853.963.066.762.666.9

72.387.8

111.0137.3151.2156.4161.0173.0189.4191.3

210.9236.4254.1271.9274.7296.4318.5336.6344.3368.5

385.2400.0425.5448.1480.9519.5566.3609.7667.9725.1

595.8602.5614.5625.8

644.1660.4675.7691.2

703.7718.2733.9744.7

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

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.


197


TABLE G-18.—Sources and uses of gross saving, 1929-69


Year or quarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946 .194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969*

1967: L_ _ ._._IIIIIIV

1968: LIIIIIIV

1969: 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

101.0115.3124.9119.2128.4145.2

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

102.4113.1123.8133.7135.1136.2

Per-sonalsaving

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

17.021.221.619.926.228.432.540.438.437.6

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

56.858.766.368.876.284.791.393.396.798.6

deficit,

Government surplusor deficit ( - )

Total

1.0

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

.3- 1 . 8- 2 . 2

- . 7- 3 . 8

-31 .4-44.1-51 .8-39 .5

5.414.48.5

- 3 . 2

7.85.8

- 3 . 8- 6 . 9- 7 . 0

2.74.9.7

-12 .5- 2 . 1

3.7- 4 . 3- 2 . 9

1.8- 1 . 4

2.21.1

-14 .5- 6 . 7

9.0

Fed-eral

1.2

.3- 2 . 1- 1 . 5- 1 . 3- 2 . 9- 2 . 6- 3 . 6- . 4

- 2 . 1- 2 . 2

- 1 . 3- 5 . 1

-33.1-46.6-54 .5-42.1

3.513.48.4

- 2 . 4

9.16.2

- 3 . 8- 7 . 0- 5 . 9

4.05.72.1

-10 .2- 1 . 2

3.5- 3 . 8- 3 . 8

- 3 . 01.2

- . 2-12.7- 5 . 2

9.7

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 )

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

-1 .4-2 .3- . 8

.2- . 5

.91.21.71.01.3

-1 .8-1 .5

Gross investment

Total

17.0

11.05 81 i1.63.86.48.4

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

112.2123.9118.3125.9139.0

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

108.1121.4116.0126.3139.6

Netforeigninvest-ment i

0.8

.722

.2

.4- . 1- . 1

11.1.9

1 51 l

- . 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

1.73.02.53.15.74.12.42.2

- . 3- . 6

Statis-ticaldis-

crep-ancy

0.7

- . 873

.6

.5- . 21.2

*.6

1.3

1 04

-1 .1-2 .0

2 53 9.1.9

—2 0.3

1.53 32 23 02.72 1

- 1 1

1.6- . 8

-1 .0— 8

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


117.5113.6119.9125.6

120.5128.8129.1135.4

138.4142.7150 2

131.6129.6134.5139.0

132.0139.6132.6136.3

130.2131.3142.8

40.037.740.743.1

39.942.333.238.0

32.533.343.141.6

91.691.993.895.9

92.197.299.398.3

97.798.099.7

-14.1-16 .0-14.6-13 .4

-11 .5-10 .8- 3 . 5- . 9

8.311.47.4

-12 .0-13 .2-13 .4-12 .3

- 8 . 4- 9 . 5- 2 . 8- . 1

10.113.57.7

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

-3 .1-1 .3- . 7- . 8

-1 .8-2 .1

2

116.3112.0120.0124.5

118.7127.2125.8132.0

134.2136.2143 3142.3

113.6109.4117.7123.3

119.4126.6125.2133.9

135.2137.4143.3142.4

2.72.52.31.3

- . 7.6.6

-1 .9

-1 .0-1 .2

.0- . 1

-1 .2-1 .7

.1-1 .1

-1 .8-1 .6- 3 . 3-3 .4

-4 .2-6 .5-6 .9

1 Net exports of goods and services less net transfers to foreigners.2 Surplus of $32 million.3 Deficit of $41 million.

Note.—Corporate profits tax and related items for 1969 reflect repeal of investment tax credit.


198


TABLE C-19.—Saving by individuals, 1946-69 *


Year orquarter

1946194719481949

1950195119521953195419551956195719581959

196019611962196319641965196619671968

1967" 1I I . . .III. .IV...

1968: l . . ._I I . . .III . .IV...

1969: I . . . .I I . . .III . .

Total

25.420.723.919.2

27.330.326.329.927.933.734.933.532.333.2

28.930.937.337.745.052.554.561.759.9

14.47.2

19.220.3

16.34.7

18.518.1

16.25.1

20.8

Increase in financial assets

Total 2

18.413.39.2

10.0

13.718.021.922.122.328.028.828.131.035.0

28.334.339.343.751.356.052.866.766.6

11.812.320.721.1

13.511.019.819.3

14.49.8

21.2

Cur-

de-mandde-

posits

4.8- . 5

- 2 . 5- 1 . 9

2.24.61.7.5

1.8.8

1.2- . 53.2

.5

- 1 . 4.7

Z- 94*36.57.33.1

10.210.7

- 1 . 12.03.76.9

- 5 . 0*

6.25.7

- 4 . 62.53.8

Sav-ingsac-

ounts

6.33.42.32.6

2.54.57.78.39.28.89.5

12.114.011.4

12.417.423.423.023.926.419.132.527.7

9.010.08.05.5

8.15.76.37.7

7.52.9

- 2 . 1

Securities

Gov-ern-ment

bonds3

- 1 . 12.31.21.8

.3- . 51.42.41.05.93.41.9

- 1 . 57.9

2.9.7.8

4.34.24.47.8

- . 66.9

- 1 . 5- 4 . 7

3.6.5

3.9- . 83.2

.7

5.7- 1 . 012.3

Corpo-rateandfor-eign

bonds

- 0 . 9- . 8- . 2- . 4

- . 8- . 2- . 1

- . 41.1.9

1.0.7.6

*.4

5- ! 6- . 5

.82.04.64.0

.7

.61.31.5

.61.6.9

1.3

.9

.82.5

Corpo-rate

stock4

1.11.11.0.8

.7

1 6!9.7

1.12.01.51.5.6

- . 4.4

2 0- 2 ! 7- . 1

- 1 . 9- 1 . 0- 4 . 9- 7 . 7

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

.7- 2 . 4- 2 . 6- 3 . 3

.3- 2 . 2- 1 . 2

Insur-anceandpen-sionre-

serves(°5.35.35.25.5

6.96.27.77.97.98.49.69.5

10.011.4

11.612.212.813.915.217.118.120.119.3

4.45.75.05.0

4.35.44.85.0

4.15.95.1

Net investment in

Non-farm

homes

4.87.9

11.210.1

15.213.913.414.014.818.416.714.514.118.2

15.814.516.517.517.717.516.014.319.2

2.62.84.34.7

4.04.35.35.4

4.74.85.3

Con-sumer

du-rables

5.87.57.17.0

10.25.53.66.44.99.95.94.9.6

5.5

5.12.96.78.9

11.214.815.212.416.9

.83.82.15.7

1.74.43.37.5

2.25.02.8

Non-cor-po-rate

busi-ness

assets

2.72.26.61.4

4.94.31.91.11.62.71.61.61.91.4

.8

.61.82.11.03.42.72.01.3

.8

.6

.3

.2

.9

.7- . 3

*

.4

.42

Less

Mort-gagedebton

non-farm

homes

4.14.74.94.2

7.56.87.07.69.0

12.311.08.79.1

12.6

10.511.012.714.915.815.311.811.115.0

1.62.03.44.0

3.53.53.74.3

3.74.14.1

Increase indebt

Con-sumercredit

2.73.22.82.9

4 11.24.83.91.16.43.52.6.2

6.4

4.61.85.87.98.5

10.07.24.6

11.1

- 2 32.11.33.5

- 1 . 23.63.05.6

- 1 . 24.01.6

Otherdebt9

- 0 . 42.32.72.2

5.13.22.72.25.76.73.74.36.07.8

6.08.68 4

11.611.913.913.118.118.0

? 28.13.63.9

1.58.52.84.3

3.06.72.6

1 Individuals'saving sector includes households, private trust funds, nonprofit institutions, farms, and other noncorporatebusinesses. Revisions in account structure and estimation procedure are reflected in these data.

2 Includes miscellaneous financial assets not shown separately.3 U.S. Government and agency securities and State and local obligations.4 Includes investment company shares.5 Private life insurance reserves, private insured and noninsured pension reserves, and government insurance and

pension reserves.6 Security credit, policy loans, noncorporate business debt, and other debt.Sources: Securities and Exchange Commission and Board of Governors of the Federal Reserve System.

199


TABLE C-20.—Number and money income (in 1968 prices) of families and unrelated individuals,by race of heady 1947-68

Year

FAMIUES:i1947—19481949 .

1950...195119521953-1954...195519561957...19581959

1960196119621963—1964 . . . .19651966.

19662 _1967 219682

UNRELATEDINDIVIDUALS^194719481949

1950...19511952...1953 .1954195519561957—19581959

1960196119621963196419651966

1966 21967 21968 2

Total

Totalnum-ber

(mil-lions)

37.238.639 3

39.940.640 841 242.042.9.43.543.744.245.1

45.546 347.047.447.848 348.9

49.149.850.5

8.28.49 0

9.49 19.79.59.79.99.8

10.410.910 9

11.111.211.011.212.112.112.4

12 313.113.8

Medianincome

$4,7164,6134,537

4,8044,9655,1055,5245,4025,7446,1206,1316,1206,472

6,6046 6716,8517,1017,3677 6667,971

8,0408,3188,632

1,5381,4631,532

1,5121 5981,8531,8221,5851,7181,8351,8821,8441 891

2,0212,0412 0172,0522,2352,3842,438

2,4912,786

With incomesunder $3,000

Num-ber

(mil-lions)

9.710.311 0

10.49.99 49.09.89.08.38.58.68.1

8.18 37.87.57.16 86.4

6.25.95.2

Per-cent

26.026.728 0

26.124.323.121.923.420.919.119.419.418.0

17.918 016.7

"15.814.914 113.0

12.711.810.3


Num-ber

(mil-lions)

4.04.34.5

4.74 44.24.34.74.54.34.54.84 6

4.54.54 34.34.54.14.1

4.34.0

Per-cent

49.351.149.6

49.848 643.745.248.645.944.242.943.642 5

40.940.038.838.336.933.933.3

32.828.8

White

Totalnum-ber

(mil-lions)

34.135.3

38.239.039.539.740.240.9

41.141 942.442.743.143 544.0

44.144.845.4

7.27.3

8.28.58.58.99.29.3

9.69.69.59.7

10.410.510.8

10 711.312.0

Medianincome

$4,9164,7904,718

4,9855,1735,4025,7335,6295,9916,4046,3796,3776,742

6,8576,9577,1707,4437,6917 9958,290

8,3668,6258,937

1,6341,5241,654

1,6131,6821,9921,9231,7101,8301,8871,9811,9401,991

2,1872,2032,1742,1662,3542,4782,536

2,6072,952


Num-ber

(mil-lions)

7.88.4

8.07.26.56.76.76.3

6.46 46.05.75.55 35.0

4.84.64.0

Per-cent

22.823.525.2

23.421.220.019.420.918.416.416.616.615.5

15.515.314.413.513.112 111.3

11.010.28.9


Num-ber

(mil-lions)

3.43.6

3.83.73.63.73.93.7

3.73.63.53.53.73.43.4

3.63.3

Per-cent

47.949.647.7

48.447.642.044.146.544.043.041.041.840.0

38.637.736.636.535.232.632.0

31.427.2

Negro and other races

Totalnum-ber

(mil-lions)

3.13.3

3.83.94.04.04.04.2

4.34 54.64.84.84 84.9

5.05.05.1

1.01.1

1.51.41.31.51.61.6

1.51.61.51.51.61.71.6

1.61.81.8

Medianincome

$2,5142,5592 414

2,7042,7253,0643,2293,1263,3203,3803,4213,2703,482

3,7943 7093,8253,9404,3034 4194,945

4,9945,3525,590

1,1631,1481,205

1,1901 2991,3891,5041,1841,2641,4481,3541,3451,351

1,3321,3701,4461,4751,6631,8471,866

1,9171,999


Num-ber

(mil-lions)

1.91.9

1.81.81.81.81.91.8

1.71 91.81.81.61.51.4

1.41.31.2

Per-cent

60.058.060.8

55.454.948.846.448.445.744.444.946.843.8

40.541.238.337.432.831.427.8

27.625.922.8


Num-ber

(mil-lions)

0.6.7

.9

.8

.7

.8

.9

.9

.8

.9

.8

.8

.8

.7

.7

.7

.7

Per-cent

59.862.160.3

59.055.153.549.959.957.251.554.754.754.2

55.254.051.850.747.042.842.8

41.639.5

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

2 Based on revised methodology.3 The term "Unrelated individuals" refers to persons 14 years old and over (other than inmates of institutions) who are

not living with any relatives.

Source: Department of Commerce, Bureau of the Census.

200


POPULATION, EMPLOYMENT, WAGES, ANDPRODUCTIVITY

TABLE G-21.—Population by age groups: Estimates, 1929-69, and projections, 1970-85l

[Thousands of persons]

July 1

Estimates:1929

1930.19311932..1933.11934

19351936193719381939

19401941194219431944

1945.1946194719481949

19501951195219531954

19551956195719581959

1960...19611962.1963..1964

19651966.19671968.//19694

Projections:1

1970: Series CSeries D

1975: Series C. ._.Series D . . . .

1980: Series C.___Series D

1985: Series C . . .Series D___.

Total

121,767

123,077124,040124,840125,579126,374

127,?50128,053128,825129,825130,880

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

194,592196,92fr<|>7199,11-8-201,1^6^203,216

206,039204,923

219,366215,367

235,212227,665

252,871241,731

Age (years) 7Under 5

11,734

11,37211,17910,90310,61210,331

10,17010,04410, 00910,17610,418

10,57910, 85011,30112,01612,524

12,97913,24414,40614,91915,607

16,41017,33317,31217,63818,057

18, 56619,00319,49419,88720,175

20,36420,65720,74620,75020,670

20,40419,81119,19118,52117,960

18,74017,625

21,21118,323

24,29820,736

26,64523,030

5-15

26,800

26,98326,98426,96926,89726,796

26,64526,41526,06225,63125,179

24,81124,51624,23124,09323,949

23,90724,10324,46825,20925,852

26,72127,27928,89430,22731,480

32,68233,99435,27236,44537,368

38,50439,76841,16841,62042,294

42,96343,82244,48844,97745,260

\ 45,273

43,83642,726

44,36040,376

49,94443,123

16-19

9,127

9,2209,2599,2849,3029,331

9,3819,4619,5789,7179,822

9,8959,8409,7309,6079,561

9,3619,1199,0978,9528,788

8,5428,4468,4148,4608,637

8,7448,9169,1959,543

10,215

10,69811,09311,25812,06112,819

13,56314,30414,16714,33814,655

20-24

10,694

10,91511,00311,07711,15211,238

11,31711,37511,41111,45311,519

11,69011,80711,95512,06412,062

12,03612,00411,81411,79411,700

11,68011,55211,35011,06210,832

10,71410,61610,60310,75610,969

11,11611,40811,88912,62013,154

13,67914,06315,19715,78816,484

} 15,087|/j 17,261

} 16,614

) 16,9401

15,213 i14,509 |

} 19,299

} 20,997

} 21,068

25-44

35,862

36,30936,65436,98837,31937,662

37,98738,28838,58938,95439,354

39,86840,38340, °6141,42042,016

42, 52143,02743,65744,28844,916

45,67246,10346,49546,78647,001

47,19447,37947,44047,33747,192

47,13447,06146,96846,93246,881

46,80746,85547,07747,61447,994

} 48,276

53,881

62,374

72,083

45-64

21,076

21,57322,03122,47322,93323,435

23,94724,44424,91725,38725,823

26,24926,71827,19627,67128,138

28,63029,06429,49829,93130,405

30,84931,36231,88432,39432,942

33,50634,05734,59135,10935,663

36,20836,75637,31637,86938,438

39,01539,60140,19440,76841,393

} 41,817

43,364

43,180

42,940

65 andover

6,474

6,7056,9287,1477,3637,582

7,8048,0278,2588,5088,764

9,0319,2889,5849,86710,147

10,49410,82811,18511,53811,921

12,39712,80313,20313,61714,076

14,52514,93815,38815,80616,248

16,65917,01317,31117,56517,863

18,16218,46418,79619,12919,470

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 2,775 children per 1,000 women for Series C and 2,450 children per1,000 women for Series D. 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. Includes Alaska and Hawaii beginning 1950>>


201


TABLE G-22.—Noninstitutional population and the labor force, 1929-69

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 ofcivilian

laborforce

1929..

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

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

1940..1941..1942.1943.1944.

1945.1946.1947.

1947..1948..1949..

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

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

I960..1961..1962..1963.1964.

1965.1966.1967.1968.1969.

1968:Jan.. .Feb...Mar . .Apr...May..June..

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

Thousands of persons 14 years of age and over Percent

100,380101,520102,610103,660104,630

105,530106,520107,608

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 47,630

49,82050,42051,00051,59052,230

52,87053,44054,00054,61055,230

55,64055,91056,41055,54054,630

53,86057,52060,168

45,48042,40038,94038,76040,890

42,26044,41046,30044,22045,750

47,52050,35053,75054,47053,960

52,82055,25057,812

10,450 37,180

10,34010,29010,17010,0909,900

10,11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,256

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

8,1205,5602,6601,070

670

1,0402,2702,356

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

Thousands of persons 16 years of age and over Percent

103,418104,527105,611

106,645107,721108,823110,601111,671

112,732113,811115,065116,363117,881

119,759121,343122,981125,154127,224

129,236131,180133,319135,562137,841

134,576134,744134.904135,059135,249135,440

135,639135,839136,036136,221136,420136,619

60,94162,08062,903

63,85865,11765,73066,56066,993

68,07269,40969,72970,27570,921

72,14273,03173,44274,57175,830

77,17878,89380,79382,27284,239

79,81180,86980,93881,14181,77084,454

84,55083,79282,13782,47782,70282,618

1,5911,4591,617

1,6503,1003,5923,5453,350

3,0492,8572,8002,6362,552

2,5142,5722,8282,7382,739

2,7233,1233,4463,5353,506

3,4643,4673,4913,5073,5363,567

3,5863,5893,5913,6033,5173,500

59,35060,62161,286

62,20862,01762,13863,01563,643

65,02366,55266,92967,63968,369

69,62870,45970,61471,83373,091

74,45575,77077,34778,73780,733

76,34777,40277,44777,63478,23480,887

80,96480,20378,54678,874

! 79,18579,118

57,03958,34457,649

58,92059,96260,25461,18160,110

62,17163,80264,07163,03664,630

65,77865,74666,70267,76269,305

71,08872,89574,37275,92077,902

73,27374,11474,51775,14375,93177,273

77,74677,43275,93976,36476,60976,700

7,8917,6297,656

7,1606,7266,5016,2616,206

6,4496,2835,9475,5865,565

5,4585,2004,9444,6874,523

4,3613,9793,8443,8173,606

3,3663,4623,5373,8513,9964,516

4,4764,1073,8363,7673,6073,279

49,14850,71349,990

51,76053,23953,75354,92253,903

55,72457,51758,12357,45059,065

60,31860,54661,75963,07664,782

66,72668,91570,52772,10374,296

69,90870,65370,98071,29271,93572,757

73,27073,32572,10372,59673,00173,421

2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,831

3,0743,2882,9292,4912,3033,614

3,2172,7722,6062,5112,5772,419

58.959.459.6

59.960.460.460.260.0

60.461.060.660.460.2

60.260.259.759.659.6

59.760.160.660.761.1

59.360.060.060.160.562.4

62.361.760.460.560.660.5

3.93.85.9

5.33.33.02.95.5

4.44.14.36.85.5

5.56.75.55.75.2

4.53.83.83.63.5

4.04.23.83.22.94.5

4.03.53.33.23.33.1


202


TABLE G-22.—Noninstitutional population and the labor force, 1929-69—Continued

Year or month

1969:Jan..Feb.Mar_Apr-May.June

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

1968:Jan.. .Feb...Mar . .Apr.. .May. .June..

July._Aug. .Sept..Oct. . .Nov..Dec...

1969: Jan...Feb. .Mar__Apr . .May._June.

Ju ly -Aug__Sept..Oct...Nov._D e c .

Nonin-stitu-tionalpopu-lation

Totallaborforce

(includ-ing

ArmedForces)

ArmedForces

Civilian labor force

Total

Employment

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-ment

Thousands of persons 16 years of age and over

136,802136,940137,143137,337137,549137,737

137,935138,127138,317138,539138,732138,928

81,71182,57982,77083,13783,08585,880

86,31886,04684,52785, 03884,92084,856

3,4773,4753,5043,5163,5223,524

3,5213,5303,5433,5283,4933,440

78,23479,10479,26679,62179, 56382,356

82,79782.51680,98481,51081,42781,416

75,35876,18176, 52077,07977,26478,956

79,61679,64678,02678,67178,71678,788

3,1653,2853,3273,6073,8944,367

4,1553,9773,6293,5613,3222,984

72,19272,89673,19373,47173,37074, 589

75,46075,66974,39775,11075,39575,805

2,8762,9232,7462,5422,2993,400

3,1822,8692,9582,8392,7102,628

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent ofcivilian

laborforce

Seasonally adjusted

81,34482,03582,13781,93382,27882,486

82,50482,33882,43882,40382,55982,868

83,35183,83183,99983,96683,59383,957

84,27784,58484,90285,01484,78885,029

77,88178, 56978,64578,42778,74278,919

78,91778,74978,84778,80079,04279,368

79,87480,35680,49580,45080,07180,433

80,75681,05481,35981,48681,29581,589

75, 08675,64075,76475,65375,93276,005

76, 02075,97376,00076, 00276,38876,765

77,22977,72977,76777,60577,26577,671

77,87478,18778,12778,32578,49778,779

3,9624,0743,9783,9163,9053,849

3,8253,7513,6513,5253,7063,842

3,7523,8813,7323,6643,8053,705

3,5513,6343,4583,3323,4293,505

71,12471,56671,78671,73772,02772,156

72,19572,22272,34972,47772,68272,923

73,47773,84874,03573,94173,46073,966

74,32374,55374,66974,99375,06875,274

2,7952,9292,8812,7742,8102,914

2,8972,7762,8472,7982,6542,603

2,6452,6272,7282,8452,8062,762

2,8822,8673,2323,1612,7982,810

Percent

59.760.360.460.560.462.4

62.662.361.161.461.261.1

3.73.73.53.22.94.1

3.83.53.73.53.33.2

3.63.73.73.53.63.7

3.73.53.63.63.43.3

3.33.33.43.53.53.4

3.63.54.03.93.43.4

Note.—Labor force data in Tables C-22 through C-25 are based on household interviews and relate to the calendarweek including the 12th of the month. For definitions of terms, area samples used, historical comparability of the datacomparability with other series, etc., see "Employment and Earnings."

Source: Department of Labor, Bureau of Labor Statistics.

203


TABLE C-23.—Civilian employment and unemployment, by sex and age, 1947-69

[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. . . .19481949

1950.1951.1952..1953.1954..

1955.1956.1957.1958.1959.

57,039 40,99458,344 41,72657,649 40,926

58,920 41,58059,962141,78060,254 41,68461,181 42,43160,110 41,620

62,17142,62163,802143,380

2,218 38,776 16,0452,34539,382 16,6182,124 38,803 16,723

64,071 43,35763,036 42,42364,630 43,466

1960 \§5J7S 43,9041961 d65774is}43,6561962 1667702144,1771963 67,762 44,6571964 69,305|45,474

2,186 39,2,156 39,2,106 39,2,135 40,1,985 39,

2,095 40,2,164 412,117 412,012 40;2,198 41

1965 71,088 46,3401966 172,89546,9191967 ,74,372' 47,4791968 ^ 9 2 0 48,1141969 4^902,48,818

1,6911,683 14;1,588

14,354 2,311 1,69214,937 2,276 1,55915,137 3,637 2,572

1,394 17,3401,626 18,1821,578 18,5701,296 18,7501,634 18,490

1,526 19,550,216 20,422,239120,7141,411,20,613,267 21,164

517 15,824 3,288 2,23916,570! 2,055 1,221

612 16,958; 1,883! 1,18517,164 1,834 1,20217,000 3,532 2,344

1968:Jan.Feb.Mar.Apr.Vlay.June.

AprMay

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

1969:Jan...Feb...M a r -Apr...May..June..

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

75,086 47,75275,640 47,98675,764 48,03475,653 48,05875,932 48,07376,005 48,102

76,020 48,162

2,360 41,543 2;" " * U l , 3 4 2 r. 141,815 .

J, 406 42,251 23,1052,587 42,886 23,831

2,918 43,422 24,7483,252 43,667 25,9763,186 44,293126,8933,254 44,859l27^J073'430|45v

548 18,002654 18,767663 19,052570 19,043640 19,524

1,769 20,105* — 20,296

20,693849 21,257929 21,903

2,118 22,6302,469 23,5072,496 24,3972,525! 25,281

) 2,687 26,397

2,8522,7502.8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,831

1,8541,7111,8413,0982,420

2,4862,9972,4232,4722,205

1,9141,5511,5081,4191,403

270255352

318191205184310

274269299416398

425479407500487

479432448427441

1,4221,3052,219

1,9221,029980

1,0192,035

1,5801,4421,5412,6812,022

2,0602,5182,0161,9711,718

1,4351,1191,060993963

619717

1,065

1,049834698632

1,188

998,039,018,504,320

,366,717,4881,5981,581

1,4521,3241,4681,3971,428

Seasonally adjusted

75,973 48,20376,000 48,12076,002 48,03076,388 48,23576,765 48,579

77,229 48,68677,729 48,87577,767 48, —77,605 48,77,265 48,77,671

,9191,766,609

48,653

77,874 48,63877,187 48,86478,127 48,93978,325 48,82578,497 49,03678,779 49,111

3,064 44,688 27,3343,216 44,770 27,6543,257 44,777 27,7303,278 44,780 27,5953,286 44,787 27,8593,24144,86127,903

3,249 44,913 27,858. 27,770

3,262 44,858 27,8803,257 44,773 27,9723,295 44,940 28,1533,325 45,254 28,186

28,5433,455 45,231 ,3,453 45,422 28 , , .3,497 45,422 28,8483,48145,285 28,8393,382 45,227 28,6563,393 45,

3,345 45,293 29,2363,313 45,55129,3233,497 45,442 29,1883,401 45,424 29,5003,549 45,487 29,4753,502 45,609 29,670

2,558 24,7762,615 25,0392,603 25,1272,567 25, 0282,578 25,2812,592 25,311

2,517 25,3412,530 25,2402,505 25,3752,477 25,4952,45125,7022,384 25,802

2,544 25,9992,590 26,2642,620 26,2282,670:26,1692,610 26,0462,767 26,251

2,73126,5052,701 26,6222,669 26,5192,789 26,7112,780 26,6952,738 26,932

144152223

195145140123191

176209197262256

286349313383386

395404390412412

475564841

854689559510997

823832821

1,2421,063

1,3681,1751,2161,195

1,056919

1,078985

1,015

2,7952,9292,8812,7742,8102,914

2,8972,7762,8472,7982,6542,603

2,6452,6272,7282,8452,8062,762

2,8822,8673,2323,1612,7982,810

1,4561,4911,4591,3851,3821,498

L,434[,3881,4061,4411,3511,276

1,3611,2831,3301,3561,3601,341

1,4851,3701,6081,6011.4611,448

417438441406399456

431403401432420437

461425455446416395

456414482473459437

1,0391,0531,018979983

1,042

1,003985

1,0051,009931839

900858875910944946

1,029956

1,1261,1281,0021,011

1,3391,4381,4221,3891,4281,416

1,4631,3881,4411,3571,3031,327

1,2841,3441,3981,4891,4461,421

1,3971,4971,6241,5601,3371,362

320412437421450442

450412422372375392

333378437453443410

391442457454372402

1,0191,026985968978974

1,013976

1,019985928935

951966961

1,0361,0031,011

1,0061,0551,1671,106

965960

Note—See Note, Table C-22.


204


TABLE C-24.—Selected unemployment rates, 1948-69

[Percent]

Year or month

1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964.

1965.1966.1967.19681969.

1968:Jan..Feb..Mar_Apr..May.June.

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

1969: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

5.56.75.55.7:5

3.83.83.63.5

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

14.812.812.812.712.2

Men,20

yearsandover

3.25.4

4.72.52.42.54.9

3.83.43.66.24.7

4.75.74.64.53.9

3.22.52.32.22.1

Wom-en, 20yearsandover

3.65.3

5.14.03.22.95.5

4.44.24.16.15.2

5.16.35.45.45.2

4.53.84.23.83.7

By color

White

3 55.64.93.12.82.75.0

3.93.63.86.14.8

4.96.04.95.04.6

4.13.43.43.23.1

Negroand

otherraces

5.9

9.05.35.44.59.9

8.78.37.9

12.610.7

10.212.410.910.89.6

8.17.37.46.76.4

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

4.33.53.63.43.3

Mar-ried

men*

3.5

4.61.51.41.74.0

2.62.32.85.13.6

3.74.63.63.42.8

2.41.91.81.61.5

Full-time

work-ers 2

5.4

5.02.62.5

5.2

3.83.74.07.2

6.7

5.44.8

4.23.43.53.13.1

Blue-collarwork-ers 3

4.28.0

7.23.93.63.47.2

5.85.16.2

10.27.6

7.89.27.47.36.3

5.34.24.44.13.9

Laborforce

time lost*

Seasonally adjusted

3.63.73.73.53.63.7

3.73.53.63.63.43.3

3.33.33.43.53.53.4

3.63.54.03.93.43.4

11.612.713.012.412.613.3

13.312.312.512.312.212.7

11.711.712.712.812.511.6

12.212.513.213.011.611.9

2.32.32.22.12.12.3

2.22.12,22.22.01.8

2.01.91.92.02.02.0

2.22.12.42.42.22.2

4.03.93.83.73.73.7

3.83.73.93.73.53.5

3.53.53.53.83.73.7

3.73.84.24.03.53.4

3.23.33.23.13.23.3

3.33.23.23.13.03.0

3.02.93.13.13.13.0

3.23.23.63.53.13.2

6.67.16.96.86.57.1

6.86.46.67.36.56.0

6.05.76.06.96.57.0

6.46.56.86.96.25.5

3.43.53.43.33.23.5

3.53.33.43.33.23.1

3.13.03.13.23.13.2

3.53.53.83.63.33.3

1.71.71.71.61.61.7

1.61.61.61.61.61.4

1.41.41.41.51.51.5

1.61.51.71.71.51.6

3.33.33.23.13.13.2

3.33.13.03.03.02.7

2.92.82.93.23.13.1

3.13.13.43.23.03.1

4.34.44.44.03.84.1

4.34.24.14.03.93.6

3.83.63.74.13.83.7

3.83.84.44.34.24.3

5.15.38.16.6

6.78.06.76.45.8

5.04.24.24.03.9

4.14.24.03.83.74.1

4.24.04.03.93.83.6

3.63.63.73.73.53.9

4.14.14.44.44.03.8

* 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 C-22.


372-111 O—70205


TABLE G-25.— Unemployment by duration, 1947-69

Year or month

194719481949

19501951195219531954 . . . .

19551956195719581959

1960 '._196119621963 _ . .1964 . .

19651966196719681969 . _ _ __..

1968:Jan. „ .FebMarAprMayJune _ _ _ _ _ _ _ __ _

JulyAug _ _ _SeptOctNovDec

1969:JanFeb. - ._ _ _MarApr __ _ ___ __MayJune _ _ _ _ _ _ _ _ _ _ _

July. . _AugSeptoct : : : _ : : : _ _ _ _ : _ _NovDec

Total un-employ-

ment

Duration of unemployment

Less than5 weeks

5-14weeks

15-26weeks

27 weeksand over

Thousands of persons 16 years of age and over

2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,831

1,2101,3001,756

1,4501,1771,1351,1421,605

1,3351,4121,4081,7531,585

1,7191,8061,6591,7511,697

1,6281,5351,6351,5941,629

704669

1,194

1,055574516482

1,116

815805891

1,3961,114

1,1761,3761,1341,2311,117

983804893810829

234193427

425166148132495

367301321785469

502728534535490

404295271256242

164111256

3571378478

317

336232239667571

454804585553482

351241177156133

Seasonally adjustedl

2,7952,9292,8812,7742,8102,914

2,8972,7762,8472,7982,6542,603

2,6452,6272,7282,8452,8062,762

2,8822,8673,2323,1612,7982,810

1,3801,7071,7031,5421,6811,701

1,6571,6291,6311,5421,5761,363

1,4761,4361,6461,7241,7771,591

1,6771,6361,8181,8571,5641,436

855808768829711830

844765811892785825

741829757737629813

830861

1,000948910910

290285111244278260

295238235253221177

193237237254278258

244244233240244262

181168177158140163

175162138128127145

123109118139131125

175138156130140120

I Because of independent seasonal adjustment of the various series, detail will not necessarily add to totals.

Note.—See Note, Table C-22.


206


T A B L E

Year or month

19401941 .- .1942194319441945 . . .1946194719481949

195019511952195319541955195619571958...1959

1960196119621963196419651966196719681969 p

1968: JanFebMarAprMayJune

JulyAugSeptOctNovDec

1969: Jan. . . . . .FebMarAprMayJune.. .

JulyAugSeptOctNov p.-Dec p

C-26.— Unemployment

All programs

Cov-eredem-ploy-

ment1

Insuredunem-ploy-ment

(weeklyaver-

age) 2 s

Thousands

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

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

46,33446,26647,77648,43449,63751,58054,73956,342

P57,969

55,74755,95656,41957,15757,67658,771

P58,833P59,179P59,036P58 738P58,865s 59,249

1 331842661149111720

2,8041,7931,4462,474

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

2,0712,9941,946

U,9731,7531,4501,1291,2701 1871,175

1,7191,6531,4801,2161,026

944

1 0581,024

868862985

1,2531,5851,5511 3851 163

970912

1 0891 016

903930

1,1061,449

Totalbenefits

paid(mil-lions

of dol-lars) 2 4

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 41,890.92,220.02 191 32,265.0

264 8259.4247.5207.2170.2139.3

156 9162.8133.4138 7134.8185.4

264.6250.8242 6214.9164.9145.7

171 8169 7148.3153.8147.7208.5

insurance programs, selected data, 1940-69

State programs

Insuredunem-ploy-

ment3

Initialclaims

Ex-haus-tions »

Weekly average, thousands

1 282814649147105589

1,295997980

1,973

1,513969

1,044990

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

1,9082,2901,783

n , 8 0 61,6051 3281,0611,2051 1111,098

1,6241,5561,3901,142

964883

991955802794913

1,172

1,4911,4591,3001 090

906852

1 021948840864

1,0301,378

2141641223629

116189187200340

236208215218304226111270369277

331350302

7 297268232203226201197

316227183183156157

240174141154189261

275219173167144162

246172146167213289

503021425

38242037

36161815342520235033

31463230262115171615

181819201817

151513141314

161717191717

151413131213

Insured unem-ployment as per-cent of covered

employment

Unad-justed

Season-ally ad-justed

Percent

5 63.02.2.54

2.14.33.13 06.2

4.62.82 92.85.23.53 23.66.44.4

4.85.64.44.33>83 02 32.52 22.2

3.33.22.82.32.01.8

2.01.91.61 61.82.3

3.02.92.62.21.81.7

2.01.81.61.62.02.7

2.32.32.32.22.22.2

2 22.22.22 12.12.1

2.12.12 12.02.02.1

2.22.22.22.22.32.3

Benefits paid

Total(mil-

lions ofdol-

lars) 4

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

2,726.73,422.72,675.42,774.72,522.12 166.01,771.32,101.02 031 92,099. 5

248.5243.7231.1195.1159.1129.1

145.6150.0121.8126.0122.5170.3

246.1234.2226.5200.1153.0135.0

159.2156.7136.2140.9134.7194.8

Aver-age

weeklycheck(dol-lars) •

10.5611.0612.6613.8415.9018.7718.5017.8319.0320,48

20.7621.0922.7923.5824.9325.0427.0228.1730.5830.41

32.8733.8034.5635.2735.9237.1939.7541.2543 4346.10

42.6043.5843.6443.1242.4242.26

42.3943.7343.7844.3744.7245.34

46.1646.8046.7046.0345.1444.88

45.3046.1645.7046.1746.9147.25

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.* Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual data are net

amounts and monthly data are gross amounts.8 Individuals receiving final payments in benefit year.8 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.1 Preliminary; December 1968 is latest month for which data are available for all programs combined. Workers covered

by State programs account for about 88 percent of the total.

Source: Department of Labor, Manpower Administration.

207


TABLE C-27.—Wage and salary workers in nonagricultural establishments, 1929-69

[All employees; thousands of persons]

Year ormonth

1929

19301931193219331934

19351936193719381939

1940 . . . .1941194219431944

1945 . . . . . . . .1946194719481949

1950. .195119521953 ._1954

1955.... . .1956195719581959

19601961.. . .196219631964

19651966 . .196719681969 v

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

54,23454,04255,59656,70258,331

60,81563,95565,85767,86070,139

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

18,06219,21419,44719,76820,121

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

10,40611,28411,43911,62411,881

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

7,6567,9308,0088,1448,240

Min-ing

1,087

1,009873731744883

897946

1,015891854

925957992925892

836862955994930

901929898866791

792822828751732

712672650635634

632627613610628

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

3,1863,2753,2083,2673,410

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

4,0364,1514,2614,3134,449

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

12,71613,24513,60614,08114,644

Fi-nance,insur-ance,andreal

estate

1,509

1,4751,4071,3411 2951̂ 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

3,0233,1003,2253,3833,558

Serv-ices

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

9,0879,551

10,09910, 59211,102

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

2,3782,5642,7192,7372,756

Stateandlocal

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

6,0836,3156,5506,8687,248

7,6968,2278,6799,1099,471


208


TABLE C-27.—Wage and salary workers in nonagricultural establishments,1929-69—Continued

[All employees; thousands of persons}

Year ormonth

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

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

1968: Jan. . .Feb...Mar...Apr...May..June..

July...Aug...Sept._Oct. . .Nov...Dec...

1969: Jan.. .Feb...Mar. .Apr...May..June..

July._Aug._Sept..Oct...Nov p_Dec v.

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-ices

Government

Fed-eral

Seasonally adjusted

65,34265,37965,45965,46965,56365,747

65,79966, 01666, 00366, 08366,60066,734

66, 72067,16567,28667,46667,55067,816

67,94568, 08868,19568,42768,66468, 875

69,19969,48769,71069, 78970,01370,300

70,24770,50070, 39070,65170,65370,639

19,61619,56219,50419,43119,36219,364

19,30719,43719,33519,32919, 54619, 582

19,61719,62719,63119,70219,73719, 790

19,80419,80019, 82019, 84019,89719, 958

19,99920, 06120,12220,11120,11820,198

20,16420,33420,19720,15620,01819,988

11,56011,54111,50011,42711,40711,391

11,35611,47111,32111,29711,49711,513

11,55711,53811,53611,59011,60611,620

11,66611,63411,64611,64911,70011,744

11,81911,83911,88111,86811,87411,931

11,91212,08111,96511,93211,75811,732

8,0568,0218,0048,0047,9557,973

7,9517,9668,0148,0328,0498,069

8,0608,0898,0958,1128,1318,170

8,1388,1668,1748,1918,1978,214

8,1808,2228,2418,2438,2448,267

8,2528,2538,2328,2248,2608,256

628626626622619618

621606601598597598

596599600617614615

619620622573622623

626628626624622622

629631631631632636

3,2373,2133,2053,1923,1753,192

3,2033,2003,1993,2083,2423,243

3,0753,2653,2693,2723,2663,267

3,2683,2723,2863,3053,3133,330

3,3383,3663,3743, 363 .3,4073,466

3,4343,4103,4203,4183,4603,446

4,2474,2454,2554,2204,2724,274

4,2864,2684,2644,2514,2774,275

4,2804,2974,2994,2984,2504,300

4,3154,3274,3334,3414,3524,360

4,3534,3734,3994,4394,4444,467

4,4834,4844,4804,4804,4884,493

13,45713,46113,48413,52413,55713,584

13,61513,64213,68713,69513,77713,781

13,78613,89013,93813,98414,01714, 057

14,09314,15414,19814,26514,29114,271

14,41214,46814, 50814,53314,60914,665

14,67114, 70214,71614,80914,82314,785

Stateandlocal

3,1463,1593,1723,1873,2023,225

3,2313,2523,2643,2713,2883,304

3,3143,3273,3363,3483,3593,363

3,3763,3993,4143,4333,4533,463

3,4903,5023,5153,5313,5413,557

3,5683,5813,5863,5953,6103,615

9,8399,8889,9469,98710,02610,067

10,11610,16110,20710,25010,33010,370

10,39810,46510,49010,48810,51010,554

10, 58210,62510,63510,72110,78710,838

10,90010,96711,03411,04411,06511,066

11,06711,12011,15011,24411,26511,288

2,6672,6792,6912,6942,7042,728

2,7352,7352,7212,7182,7192,719

2,7212,7242,7212,7232,7242,774

2,7792,7432,7212,7082,7092,724

2,7602,7672,7592,7582,7542,790

2,7772,7522,7492,7292,7212,713

8,5058,5468,5768,6128,6468,695

8,6858,7158,7258,7638,8248,862

8,9338,9719,0029,0349,0739,096

9,1099,1489,1669,2419,2409,308

9,3219,3559,3739,3869,4539,469

9,4549,4869,4619,5899,6369,675

Note.—Data in Tables C-27 through C-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 C-22 through C-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."


209


TABLE C-28.—Average

Year or month

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965 .1966196719681969 v

1968:JanFebMarAprMayJune _JulyAugSept .Oct...NovDec

1969:JanFebMar-AprMay..JuneJulvAugSeptOctNov pDec p

Totalnon-agri-

culturalpri-

vate i

40.340.039.439.839.939.939.639.139.639.338.838.539.0

38.638.638.738.838.738.838.638.037.837.7

weekly hours of work

Manufacturing

Total

44.2

42.140.538.338.134.636.639.238.635.637.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.741.241.340.640.740.6

Durablegoods

32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.340.941.141.442.042.141.241.441.3

Non-durablegoods

41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.140.239.739.839.7

in selected nonagricultural industries, 1929-69

Con-tractcon-

struc-tion

38.238.137.737.438 138.937.937 237.137.537.036.837.036.736.937.037.337.237.437.637.737 438.0

Retailtrade

43.443.242.841.840.941.040.941.3

3 40.340.240.440.440 439.839.139 239.038.638.138.138.238.037.637.437.337.036.635.935.334 734.2

Whole-sale

trade

41.642 943 142 341.841 341.141.442 343.042.841 641.141.040.840.740 840.740.640 540.740.540.340.240.640.540 540 640 640 640 840 740.340 140.2

Seasonally adjusted

1 37.737.937.837.737.837.937.937.937.937.837.637.637.837.537.837.837.837.837.837.837.837.637 637.5

40.240.740.840.140.940.940.940.741.040.940.840.840.640.140.940.840.740.740.740.640.840.540 540.6

41.041.341.440.641.641.641.541.341.641.641.641.341.340.941.541.441.441.341.241.341.541.241.141.2

39.339.939.939.239.940.039.939.940.039.939.739.939.839.139.939.839.839.839.739.639.739.539.539.8

36.537.636.937.737.537.537.337.537.537.536.237.638.238.037.938.038.137.637.537.938.137.538.238.2

34.934.934.834.834.734.834.834.834.734.534.534.334.434.234.334.134.334.234.234.334.233.934.033.9

40.040.040.040.040.040.240.140.240.240.140.040.040.140.140.140.240.140.040.040.340.340.340.240.3

Bitumi-nouscoaland

lignitemining

38 1

33 328 127 029 326 826 228 527 723 326.827 830.732.436 343.042.041 340.337.732.334.734 933.834.132 337.337.536.333.335.835.835 9

<37 0*38 9*39 2MO 2M0 8M0.7*39 7

40.0

40.740.641.140.540.541.5

40.940.629.040.641.141.640.738.841.540.535.7

40.840.540.639.5

Class 1rail-roads

43.744 345.847.048 748.948.546 046.446.243.740.841 040.640.640 841.941.741.741.641.941.742 342 642 943 543 643 943.243 9

Tele-phonecom-muni-cation

38 838 939.139 540.140.541 942.3

a 41.739 437.439.238.538.939 138.538.738 939.639.539.038.439.239.639 439 940 040 240 440 639.339 740.4

Jnadjusted

44.344.042.744.345.043.044.743.742.944.543.943.844.745.343.044.344 543.5

39.239.139.138.638.139.940.239.940.640.641.539. S40.040.639.939.539.840.440.840.340.840.440.8

Mn 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.* Eleven-month average; excludes data for July.Note.—Hours and earnings data in Tables C-28 through C-33 relate to production workers in manufacturing and mining,

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


210


T A B L E C-29.—Average

Year or month

1929

19301931. .19321933193419351936193719381939

1940194119421943194419451946194719481949-

19501951195219531954....1955...1956195719581959

19601961196219631964196519661967 .19681969 v

1968: Jan... .Feb. . .Mar...AprM a y -June...

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

1969: Jan. . . .Feb....Mar...AprMay...June...

July...Aug. . .Sept.Oct. . . .Nov *>._Decp...

Totalnon-

agricul-tural

private

$1,1311.2251.275

1.3351.451.521.611.651.711.801.891.952.02

2.092.142.222.282.362.452.562.682.853.04

2.762.782.792.802.832.84

2.852.852.902.912.922.92

2.942.962.972.983.013.03

3.043.053.103.113.123.11

IV

Total

$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

2.262.322.392.462.532.612.722.833.013.19

2.942.942.962.972.993.00

3.002.993.043.063.083.11

3.123.123.133.153.163.17

3.193.193.243.243.263.28

lanufactu

Durablegoods

$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

2.432.492.562.632.712.792.903.003.193.38

3.133.123.143.153.183.18

3.183.173.233.243.273.30

3.313.313.323.333.353.36

3.373.393.443.443.453.48

gross hourly earnings in

ing

Non-durablegoods

$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

2.052.112.172.222.292.362.452.572.742.91

2.672.682.692.702.722.73

2.752.752.782.792.802.82

2.832.842.852.872.882.89

2.922.922.952.962.972.99

Con-tractcon-

struc-tion

$1,5411.7131.792

1.8632.022.132.282.392.452.572.712.822.93

3.083.203.313.413.553.703.894.114.404.77

4.364.294.304.294.344.31

4.364.404.494.524.544.55

4.584.564.624.644.714.71

4.744.794.914.954.954.99

Retailtrade

$0.484

.494

.518

.559

.606

.653

.699

.7974.838

.901

.951

.9831.061.091.161.201.251.301.371.421.47

1.521.561.631.681.751.821.912.012.162.30

2.092.112.122.132.142.16

2.162.162.192.202.222.21

2.242.262.262.272.292.30

2.302.302.332.352.362.33

selected industries, 1929-69

Whole-sale

trade

$0,610.628.658.674.688

.711

.763

.828

.898

.948

.9901.1071.2201.3081.360

1.4275?

.617076

.83

.942.022.092.18

2.242.312.372.452.522.612.732.883.053.23

2.963.003.013.023.043.04

3.043.043.093.083.113.12

3.123.163.163.183.203.24

3.233.243.2933.3

293334

Bitu-minous

coal andlignitemining

$0 659

.662

.626

.503

.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

5 3.125 3.155 3. 305 3.495 3.665 3.755 3.86

4.17

3.823.793.793.773.783.82

3.783.803.794.134.14

4.124.124.114.16..4.18..4.09..

"4." 14"4.184.374.42

Classrail-

roads

$0,730

.733743837

.852

.948955

1 0871.1861.3011.427

1.5721.731.831.881.931.962.122.262.442.54

2.612.672.722.762.803 003.093.243 44

3.333.383.353.353.343.40

3.463.493.533.503.563.55

3.583.643.603.603.623.65

Tele-phonecom-

munication

$0 774.816.822

.827820843870

.9113 9621 1241.1971.2481.345

1.3981.491.591.681.761.821.861.952.052.18

2.262.372.482.562.622.702.792.883 043.24

2.902.902.912.892.963.05

3.043.063.143.163.193.17

3.173.203.163.173.223.22

3.223.243.303.283.31

Agri-cul-

tures

$0,241

226172129115129

.142152172

.166

.166

.169206268

.353

.423472515

.547

.580

.559

.561

.625

.661

.672

.661

.675

.705

.728

.757

.798

.818

.834

.856

.880

.904

.9511.031.121.211.33

1.24

T6iT

1.18

I.~27~

1.38

I.~2T

1.29

1.37

*• For coverage, see footnote 1, Table C-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.* Beginning 1947, data include eating and drinking places.6 Eleven-month average; excludes data for July.Note—See Note, Tables C-27 and C-28.Sources: Department of Labor (Bureau of Labor Statistics) and Department of Agriculture.

211


T A B L E C-30.—Average

Year or month

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956..195719581959

1960196119621963196419651966196719681969 v

1968:JanFeb . . .MarAprMayJune

July.AugSept...OctNov.Dec. . .

1969:JanFebMarApr _M a y -June

JulyAugSeptOctNov p

Dec p

Totalnon-

agricul-turalpri-

vate i

$45. 5849.0050.24

53.1357.8660.65'63.7664.5267.7270.7473.3375.0878.78

80.6782.6085.9188.4691.3395.0698.82

101.84107.73114.61

103.22104. 53104.90104. 72106. 69108.20

108.87109.16110.49110.29109.50110.38

110.25110.11111.67111.75113.48115.14

115.82116 51117 80117.25117 00117.25

gross weekly earnings

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

89.7292.3496.5699.63

102.97107. 53112.34114.90122.51129.51

117.60119.36120.18118.21122.29123. 30

122.10121.69125.25125.77125.97127.82

126. 05124.80127. 39127. 58128.61129.65

129.20129 51132 84131.87132 36134.15

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

97.44100.35104.70108.09112.19117.18122.09123.60132.07139. 59

127. 70128. 54129.68127.26132.29132. 92

131.02130.29135.01135.43136.36137.61

136.04135.05137.45137.20138.69139.44

137. 83139 33143.45142.42142 14144.77

Non-durabiegoods

$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

102.03109. 05115.53

103.86106.40106.79104.76108.26109.47

110.00110.55112.03111.88111.72113.08

111.50110.48113.15113.08114.34115.31

116.22116 51118 00117.51117 91119.60

in selected nonagricultural industries, 1929-69

Con-tractcon-

struc-tion

$58.8765.2767.56

69.6876,9682.8686.4188.9190.9096.38

100. 27103.78108.41

113.04118.08122.47127.19132. 06138.38146.26154.95164. 56181.26

152.60155.30155. 60160.02163.18165. 50

168. 30'170.72173.76173. 57159. 35168.81

168. 09166. 90171.86174.46179.92181.34

183.91187 77192.96190. 08183 65188.12

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

57.7658.6660.9662.6664.7566.6168.5770.9574.9578.66

72.1172.8072.9373.4973.4075.82

77.3377.3375.9975.4675.7076.47

76.1676.3976.6176.7377.6379.35

80.9681 1979.6979.2079.3079.69

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

102.31106.49111.11116.06122.31129. 85

118.10119.40120.10120.20121.30122.51

123.12122. 82124.22123.82124.40125. 74

124. 80126. 08126.40127.20128.00129.92

130.17131.22132. 59132. 59133.87135.27

Bitumi-nouscoaland

lignitemining

$25.11

22.0417.5913 5814 2117.4518.8621.8922.9419.7822.99

23.7429 4733.3739.9749 3250.3656.0463.7569.1860.63

67.4674.6975.0481.8477.5292.13

102.00106.0097.57

111.34

112.41112.01114.46121.43128.91140.26149.74153.28153.65165.91

155.47153.87155.77152.69153.09158.53

157.70154.60154.28109.91167.68170.15

171.39167.68159.47172.64169. 29146. 01

159.18168 91169.29177.42174.59

Class 1, rail-roads

$31.90

32.4734 0339.3441.4946 3646.3250.0055.0360.1162.36

64.1470.9374.3076.3378.7482.1288.4094.24

101.50106.43

108.84112.94115.87118.40121.80130. 80135.65139.97151.02

147. 52148.72143.05148.41150.30146.20

154.66152.51151.44155.75156.28155.49

160. 03164. 89154.80159.48

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. 08113.27113.18120.69130.90

113.68113.39113.78111.55112.78121.70

122.21122. 09127.48128.30132.39126.48

126. 80129.92126. 08125. 22

161.09 | 128.16158.78 130.09

131.38130 57134.64132. 51135. 05

1 For coverage, see footnote 1, Table C-28.2 Nine-month average, April through December, because of new series started in April 1945.* Beginning 1947, data include eating and drinking places.Note—See Note, Tables C-27 and C-28.Source: Department of Labor, Bureau of Labor Statistics.

2 1 2


TABLE C-31.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-69

Year or month

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969 *

1968: JanFebMar . .AprMay... .June

JulyAugSeptoct ""::::NovDec


JulyAugSeptOctNov pDec P

Al1 manufacturing industries

Averageweeklyhours

Gross

37.7

38.140.643.145.045.243.540.340.440.039.1

40.540.640.740.539.640 740.439.839.240.3

39.739.840.440.540.741.241.340.640.740.6

40.040.640.639.840.941.1

40.740.741.241.140.941.1

40 440.040.740 540.740.9

40.540.641.040.740.640.9

Ex-clud-

ingover-time

37.637.537.237.6

37.337.437.637.737.637.637.437.237.137.0

36.737.337.336.937.337.4

37.237.137.237.237.037.2

36.836.737.237.037.137.2

37.036.937.037.037.037.4

Average hourlyearnings

Gross

$0,627

.655

.726

.851

.9571.0111.0161.0751.2171.3281.378

1.4401.561.651.741.781.861.952.052.112.19

2.262.322.392.462.532.612.722.833.013.19

2.942.942.962.972.993.00

3.002.993.043.063.083.11

3.123.123.133.153.163.17

3.193.193.243.243.263.28

Ex-clud-

ingover-time

$0.691.793.881.933

3.9491.0351.181.291.34

1.391.511.591.681.731.791.891.992.052.12

2.202.252.312.372.442.512.592.722.883.05

2.832.832.842.862.872.87

2.882.862.902.922.942.97

2.983.003.003.023.033.03

3.063.063.093.103.123.15

Adjustedhourly

earnings,(1957-

59=100)i

32.2

2 33.42 37.52 40.82 43.72 45.52 50.4

57.863.266.1

68.273.677.481.684.386.991.596.2

100.2103.4

106.8109.9112.7115.5118.4121.5125.6131.5139 5147.7

136.1136.9137.5138.2138.6138.8

139.1139.8141.2141.7142.6143.6

144.4144.9145.2146.0146.6146.9

147.8148.4149.5150.2151.0152.0

Durable goods manufac-turing industries

Averageweeklyhours

Gross

37.9

39.242.045.046.546.544.040.440.540.439.4

41.141.541.541.240.141 341:040.339.540.7

40.140.340.941.141.442.042.141.241.441.3

40.841.241.340.441.641.8

41.241.141.841.841.741.7

41.140.841.441.241.441.5

40.941.141.741.441.241.6

Ex-clud-

ingover-time

38.037.937.638.0

37.738.038.138.238.138.137.837.737 637.5

37.337.837.837.437.837.9

37.637.537.637.637.537.6

37.437.237.737.637.737.6

37.337.337.537.537.538.0

Averagehourly

earnings

Gross

$0,691

.716

.799937

1.0481.1051 0991 1441.2781.3951 453

1 5191.651 751 861.901 992.082 192.262.36

2.432.492.562.632.712 792.903.003 193.38

3.133.123.143.153.183.18

3.183.173.233.243.273.30

3.313.313.323.333.353.36

3.373.393.443.443.453.48

Ex-clud-ing

over-time

$6.762.872.966

1.0193 1 031

1.1111.241.351.42

1.461.591.681.791.841 912.012.122.212.28

2.362.422.482.542.602.672.762.883 053.23

3.003.003.023.033.043.04

3.043.033.073.093.113.15

3.163.173.173.193.203.21

3.233.243.273.293.313.34

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

37.4

37.038.940 342.543.142 340.540.239.638 9

39.739.539.739.639.039 939.639 238.839.7

39.239.339.639.639.740 140.239.739.839.7

38.939.739.738.839.840.1

40.040.240.340.139.940.1

39.438.939.739.439.739.9

39.839.940.039.7

,39.740.0

Ex-clud-ing

over-time

37.237.036.637.0

36.736.836.936.936.836.936.836.636.536.3

35.936.636.636.136.636.7

36.636.736.536.636.436.6

36.135.936.536.236.436.5

36.436.436.336.236.336.6

Averagehourly

earnings

Gross

$0.571

.590

.627

.709

.787

.844

.886

.9951.1451.2501.295

1.3471.441.511.581.621 671.771.851.911.98

2.052.112.172.222.292.362.452.572.742.91

2.672.682.692.702.722.73

2.752.752.782.792.802.82

2.832.842.852.872.882.89

2.922.922.952.962.972.99

Ex-clud-ing

over-time

$6,613.684.748.798

3 841.962

1.111.211.26

1.311.401.461.531.581 621.721.801.861.92

1.992.052.092.152.212.272.352.472.632.79

2.572.582.592.612.612.62

2.632.642.662.672.692.70

2.722.732.742.762.772.77

2.802.792.822.832.852.87

1 Earnings in current prices adjusted to exclude the effects of overtime and interindustry shifts.2 Annual average not available; April used.3 Eleven-month average; August 1945 excluded because of VJ Day holiday period.

Note—See Note, Tables C-27 and C-28.See Table C-28 for seasonally adjusted average gross weekly hours.Source: Department of Labor, Bureau of Labor Statistics.

213


TABLE G—32.—Average weekly earnings, gross and spendable, total private nonagriculturalindustries, in current and 1957-59 prices, 1947-69

Year or month

Average gross weeklyearnings

Currentprices

$45.5849.0050.24

53.1357.8660.6563.7664.5267.7270.7473.3375.0878.78

80.6782.6085.9188.4691.3395.0698.82

101.84107.73114.61

103.22104. 53104.90104.72106.69108.20

108.87109.16110.49110.29109.50110.38

110.25110.11111.67111.75113.48115.14

115.82116.51117.80117.25117.00117.25

1957-59prices *

$58.5958.4760.53

63.4063.9365.5768.4168.9372.5874.7074.8374.5677.62

78.2479.2781.5582.9184.4986.5087.3787.5788.8989.75

87.0387.8487.7887.3488.6989.50

89.6089.5590.4289.7488.7489.23

88.8488.3788.9188.4189.5090.24

90.3490.5391.1190.3389.6689.30

Average spendable weekly earnings2

Worker with nodependents

Currentprices

$39.1643.1144.15

46.0248.6850.0752.4553.7656.2758.6360.4761.8364.52

65.5967.0869.5671.0575.0478.9981.2983.3886.7190.96

84.4385.4285.7084.1185.5786.68

87.1887.3988.3788.2387.6488.29

87.7687.6588.8088.8690.1391.35

91.8592.3593.3092.8992.7192.89

1957-59pricesl

$50.3351.4453.19

54.9253.7954.1356.2857.4460.3161.9161.7061.4063.57

63.6264.3866.0066.5969.4271.8771.8771.6971.5471.23

71.1971.7871.7270.1571.1371.70

71.7571.6972.3271.7971.0271.37

70.7270.3570.7070.3071.0871.59

71.6571.7672.1671.5671.0470.75

Worker with threedependents

Currentprices

$44.6448.5149.74

52.0455.7957.8760.3160.8563.4165.8267.7169.1171.86

72.9674.4876.9978.5682.5786.3088.6690.8695.2899.99

91.9693.0193.3092.9094.4095.55

96.0796.2997.3097.1596.5597.22

96.6896.5797.7697.8299.13

100.40

100.92101.45102.44102.01101.82102. 01

1957-59prices1

$57.3857.8959.93

62.1061.6562.5664.7165.0167.9669.5069.0968.6370.80

70.7771.4873.0573.6376.3878.5378.3978.1378.6178.30

77.5478.1678.0877.4878.4779.03

79.0778.9979.6279.0578.2478.59

77.9077.5077.8377.3978.1878.68

78.7278.8379.2378.5978.0277.69

1 Earnings in current prices divided by the consumer price index.2 Average gross weekly earnings less social security and income taxes.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 C-27 and C-28.Source: Department of Labor, Bureau of Labor Statistics.

214


TABLE C-33.—Average weekly earnings, gross and spendable, in manufacturing industries, incurrent and 1957-59 prices, 1939-69

Year or month

Average gross weeklyearnings

Currentprices

1957-59pricesl

Average spendable weekly earnings2

Worker with nodependents

Currentprices

1957-59prices'

Worker with threedependents

Currentprices

1957-59prices *

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969 P

1968: Jan..Feb—Mar..

June.

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

1969: Jan..Feb..Mar_.Apr..May.June.

July..Aug.Sept.Oct__Nov pDec p

$23.64

24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88

58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26

89.7292.3496.5699.63102.97107. 53112.34114.90122. 51129. 51

117.60119.36120.18118.21112.29123.30

122.10121.69125.25125.77125.97127.82

126.05124. 80127.39127. 58128.61129.65

129.20129. 51132.84131.87132. 36134.15

$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

101.08101.42

99.16100.30100.5798.59101.65101.99

100.4999.83102. 50102.34102. 08103.33

101.57100.16101.43100.93101.43101.61

100.78100.63102.74101. 59101.43102.17

$23.37

24.4627.9631.8035.9537.9936.8237.3142.1046.5747.21

50.2652.9755.0457.5958.4562.5164.9266.9367.8271.89

72.5774.6077.8679.8284.4089.0891.5793.2897.70

101.90

95.3396.6697.2994.0797.0897.83

96.9496.6499.2799.6599.80

101.17

99.3698.44

100. 34100.48101.24102.00

101.67101.90104. 34103.63103.99105.30

$48.29

50.1254.5055.9959.6261.9758.7254.8754.1155.5756.88

59.9858.5359.5061.7962.4567.0068.5568.3067.3570.83

70.3971.5973.8774.8178.0881.0680.9680.2180.6179.80

80.3881.2381.4178.4680.7080.92

79.7979.2881.2481.0880.8881.79

80.0679.0079.8979.4979.8479.94

79.3179.1880.7079.8479.6980.20

$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

101.26106.75111.44

103.43104.85105.50103.23106.38107.16

106 23105.91108.66109.06109.22110.65

108.78107. 82109.81109.95110.74111.54

111.20111.44114.01113.25113.63115.03

$48.35

50.6456.9063.9368.5471.3967.9362.9361.1662.4263.80

67.2666.5068.0970.3970.1474.8076.2975.8374.7178.23

77.7078.8781.1582.0885.2788.0687.9387.0788.0887.27

87.2188.1188.2886.1088.4388.64

87.4386.8888.9288.7488.5189.45

87.6686.5387.4386.9987.3387.41

86.7486.5988.1787.2587.0787.61

1 Earnings in current prices divided by the consumer price index.

2 Average gross weekly earnings less social security and income taxes.

Note—See Note, Tables C-27 and C-28.


215


TABLE C-34.—Indexes of output per man-hour and related data, private economy, 1947-69

[1957-59=100]

Year

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

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

1955...1956—1957...1958...1959...

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

1965...1966—1967—1968...1969 v_

1947...1948.1949...

1950...1951...195219531954...

19551956—19571958...1959...

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

1965...1966—1967—1968...1969 v.

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



Man-hours2

Totalpri-vate

Farm

Nonfarm industries



Establishment basis 3

69.072.074.2

80.382.784.387.889.9

93.994.196.999.8

103.4

105.0108.6113.8117.9122.5

126.6131.7134 3138.7139.9

49.858.056.5

64.464.770.379.6

•83.7

84.488.093.3

103.0104.8

110.7119.4122.2133.1135.5

148.1153.8168.5168.5181.4

74.176.579.5

84.486.387.089.691.6

95.795.297.299.7

103.1

104.4107.4112.3115.7120.0

123.6127.9129 9134.2134.8

72.376.479.3

85.086.987.390.291.8

97.296.298.298.1

103.7

105.5107.9114.3118.9124.7

129.8131.8132.1139.2142.8

75.176.379.6

84.185.686.788.891.5

94.794.396.7

100.6102.9

103.9107.4111.5114.3118.0

120.5125.8128.7131.6130.6

67.670.870.6

77.982.884.889.187.9

95.497.298.697.3

104.1

106.6108.6116.0120.8127.8

136.2144.9148.2155.6160.1

82.191.888.9

93.788.991.896.698.6

101.0100.598.1

100.5101.9

105.8107.2106.8110.1107.7

114.5108.2114 5112.6113.5

66.869.869.7

77.082.584.588.887.4

95.197.198.697.2

104.2

106.7108.7116.5121.4128.8

137.3146.9150.0157.9162.6

69.372.768.7

79.787.889.797.190.3

100.9101.3101.793.4

104.9

106.4106.0116.8122.7131.2

143.9155.4155.3166.6173.6

65.668.370.2

75.779.881.984.586.0

92.294.997.199.1

103.9

106.8110.1116.3120.8127.7

134.0142.6147.3153.5157.0

98.098.495.1

97.0100.1100.6101.597.8

101.6103.3101.897.5

100.7

101.5100.0101.9102,5104.3

107.5110.1110.4112.2114.4

164.8158.4157.3

145.6137.5130.6121.4117.8

119.6114.2105.197.697.2

95.689.887.482.779.5

77.370.167.766.662.4

90.191.387.7

91.295.697.199.195.4

99.4102.0101.497.5

101.1

102.2101.2103.7104.9107,3

111.1114.8115.4117.6120.6

95.895.186.6

93.8101.0102.7107.798.4

103.8105.3103.695.2

101.2

100.998.2

102.2103.2105.2

110.9117.9117.6119.7121.6

87.489 588.2

90.093.294 595.294.0

97.4100.6100.498.5

101.0

102.8102.5104.3105.7108.2

111.2113.4114 4116.6120.2

Labor force basis4

67.970.271.9

78.582.184 588 490.8

94.794.697.299.4

103.4

104.5107.3113.0116.7121.0

125.0130.7133.3138.6140.1

49.858.056.1

64.164.369.979 183.3

84.087.593.3

103.1104.7

110.7119.9122.3133.5135.8

148.3153.7168.2169.1182.0

72.974.576.8

82.485.787 590 492.8

96.795.997.799.2

103.1

103.8105.9111.4114.4118.4

121.8126.7128.7133.9134.8

67.670.870.6

77.982.884.889 187.9

95.497.298.697.3

104.1

106.6108.6116.0120.8127.8

136.2144.9148.2155.6160.1

82.191.888.9

93 788.991 896 698.6

101.0100.598.1

100.5101.9

105.8107.2106.8110.1107.7

114.5108.2114 5112.6113.5

66.869.869.7

77.082.584.588 887.4

95.197.198.697.2

104.2

106.7108.7116.5121.4128.8

137.3146.9150 0157.9162.6

99.6100.898.2

99.2100.9100.4100.896.8

100.7102.7101.497.9

100.7

102.0101.2102.7103.5105.6

108.9110.9111.2112.3114.3

164.8158.2158.6

146.2138.3131.3122.1118.3

120.3

91.693.790.8

93.496.396.698.294.2

98.3114.9 101.2105.2 100.997.597.3

95.689.487.382.579.3

77.270.267.866.362.4

98.0101.1

102.8102.6104.6106.1108.8

112.8115.9116.5117.9120.6

1 Output refers to gross national product in 1958 prices.2 Hours of 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.* Man-hours estimates based primarily on labor force data.Note.—For information on sources, methodology, trends, and underlying factors influencing the measures, see Bureau

of Labor Statistics, Department of Labor, Bulletin No. 1249 "Trends in Output per Man-Hour in the Private Economy,1909-58," December 1959.


2l6


PRODUCTION AND BUSINESS ACTIVITYTABLE G-35.—Industrial production indexes, major industry divisions, 1929—69

[1957-59=100]

Year or month

1929

19301931. . . .19321933193419351936193719381939 - .

1940...19411942 . . .194319441945194619471948.1949

195019511952. .19531954195519561957 - . . .19581959

I960196119621963196419651966..1967 . .19681969'

1968:JanFebMarAprMayJune.. .

JulyAugSept.OctNov..Dec

1969:Jan.-FebMarAprMay—.June

July. .AugSeptOctNovDec »

Totalindustrialproduction

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

108.7109.7118.3124.3132.3143.4156.3158.1165.5172.7

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

108.9109.6118.7124.9133.1145.0158.6159.7166.9173.8

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

108.5107.0117.9124.5133.5148.4164.8163.7169.8176.4

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

109.5112.9119.8125.3132.6140.8150.8154.6163.3170.5

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

101.6102.6105.0107.9111.5114.8120.5123.8126.6130.2

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

115.6122.3131.4140.0151.3160.9173.9184.9202.5221.3

Seasonally adjusted

161.5162.5163.3163.0164.9166.0

166.5165.1165.9166.3167.8168.7

169.1170.1171.4171.7172.5173.7

174.6174.3173.9173.1171.4170.9

163.1163.9164.7164.4166.4167.6

167.8166.0166.9167.9169.2170.1

170.2171.8173.1173.0173.8174.8

175.6175.4175.2174.1171.9171.2

167.5167.9168.2167.3169.9171.2

171.2167.9168.6169.4171.0172.1

173.0174.5175.9175.7176.7178.3

178.7178.8178.7177.3172.5171.3

157.7158.9160.2160.7162.0163.0

163.5163.6164.8166.1167.1167.5

166.7168.3169.5169.6170.3170.5

171.8171.3170.9170.1171.1171.1

121.9124.3126.5127.2127.9128.6

130.3129.7127.3120.8126.6127.8

125.8124.8126.7128.8130.3134.4

133.2131.2131.6130.2132.0133.9

196.1198.5198. C196.8198.4198.9

202.0204.7206. S209.2207.2210.6

215.1214.9215.1216.3213.6215.6

222.2222.6222.5224.4224. S225.5

Source: Board of Governors of the Federal Reserve System.

217


TABLE C-36.—Industrial production indexes, market groupings, 1947-69

[1957-59=1001

Year.or month

Totalindus-trialpro-duc-tion

Final products

Total

Consumer goods *

TotalAuto-motiveprod-ucts

Homegoods

Equipment

Total,includ-

ingdefense

Busi-ness

Materials

TotalDura-

blegoods

Non-durablegoods

1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956..1957..1958-.1959..

1960.1961.1962.1963.1964.

1965..1966.1967..1968..1969 "

65.768.464.7

74.981.384.391.385.8

96.699.9

100.793.7

105.6

108.7109.7118.3124.3132.3

143.4156.3158.1165.5172.7

1968:Jan.Feb.Mar.Apr.May.June

July.Aug_Sept.Oct..Nov.Dec

1969:Jan..Feb.Mar.Apr.May.June

July.Aug.SeptOct..Nov_Dec

64.266.664.5

72.878.684.389.985.7

93.998.199.494.8

105.7

109.9111.2119.7124.9131.8

142.5155.5158.3165.1170.8

67.169.268.8

78.677.879.585.084.3

93.395.597.096.4

106.6

111.0112.6119.7125.2131.7

140.3147.5148.5156.9162.4

69.472.672.0

90.680.172.191.385.0

118.397.8

105.286.7

108.1

123.2111.8131.1141.2145.1

167.2163.0149.1174.3172.9

68.871.766.3

91.478.778.890.286.0

97.3100.996.692.8

110.7

110.8112.2122.2129.6141.1

154.8168.9166.0175.4184.1

55.458.352.0

56.478.494.1

100.588.9

95.0103.7104.691.3

104.1

107.6108.3119.6124.2132.0

147.0172.6179.4182.6188.6

69.972.663.5

68.083.194.196.685.1

91.9104.7105.389.8

104.9

110.2110.1122.1128.3139.1

156.7181.2182.8184.7195.6

67.070.264.8

76.983.884.392.685.9

99.0101.6101.992.7

105.4

107.6108.4117.0123.7132.8

144.2157.0157.8165.8174.6

68.271.064.2

79.587.888.9

100.788.4

104.7105.3104.890.0

105.1

106.6104.8114.1121.2131.2

144.3156.9151.9157.8165.5

64.968.264.2

73.378.879.084.183.3

93.097.798.995.4

105.7

108.7112.2120.0126.3134.4

144.1157.2163.9174.1184.0

Seasonally adjusted

161.5162.5163.3163.0164.9166.0

166.5165.1165.9166.3167.8168.7

169.1170.1171.4171.7172.5173.7

174.6174.3173.9173.1171.4170.9

161.2162.2163.5162.2163.7165.5

165.2165.4166.0167.3167.6167.9

168.2169.3170.8170.2170.0170.7

172.8172.7172.2170.7168.0167.6

151.9153.1155.0154.0155.5157.4

157.2157.6157.9159.0159.2160.2

161.0161.7162.8161.8160.7161.5

164.4164.2162.8160.8159.6159.1

164.7162.7173.0169.3178.3179.8

180.4177.0175.5178.9180.8177.8

176.2174.7175.4166.1165.8178.7

184.6179.5176.6172.8167.5161

168.4171.5173.5170.1170.4173.2

172.3174.5175.9176.9178.6180.4

184.3183.0186.3186.1185.9186.1

184.4184.5181.2179.5167.7

181.1181.6181.9179.8181.3183.1

182.5181.9183.7183.6185.5184.5

183.5185.5187.8188.4190.0190.4

190.8190.3192.4191.8185.9185.8

183.1182.9183.5181.5182.9184.2

183.3182.4185.5187.7190.3189.3

191.4191.9192.9194.1195.7197.0

196.9197.0200.4200.8194.6195

162.3162.6162.9163.8166.4167.0

168.2164.6166.3165.9168.1168.8

169.6170.8172.1172.9174.5176.3

176.5175.9176.0175.9174.6174.0

155.4156.4156.5158.1160.4160.4

161.3153.9155.4155.4158.6158.9

161.2162.6164.0165.8165.5167.0

167.0167.3166.6165.8163.1162

169.5168.9169.5169.7172.6173.8

175.3175.7177.4176.6177.9179.0

178.3179.2180.3180.3183.7185.9

186.4184.7185.5186.3186.5187

1 Also includes apparel and consumer staples, not shown separately.Source: Board of Governors of the Federal Reserve System.

2l8


TABLE G-37.—Industrial production indexes, selected manufactures, 1947-69

[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,glass,and

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

1947.1948.1949.

19501951195219531954

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

I960..1961.1962.1963.1964.

1965. . .1966. . .1967. . .1968....1969 P..

1968: J a n . . .F e b . . .Mar_.Apr__May . .June . .

Ju ly . .Aug_.Sept . .Oct . . .N o v . .D e c . . .

1969: J a n . . .F e b . .M a r . .A p r . .M a y . .June.

Ju ly . .Aug_.Sept . .Oct . . .N o v . .Dec p.

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

137.6142.7132.5137.0149.2

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

147.8163.0161.9167.9179.8

65.366.559.0

72.783.092.1

100.587.7

96.5107.1104.288.8

107.1

110.8110.4123.5129.2141.4

160.5183.8183.4184.3195.6

42.946.947.1

56.462.973.191.783.8

102.097.4

106.489.5

104.0

108.2103.6118.3127.0130.7

149.2166.9165.7179.5174.6

53.755.249.2

57.365.778.185.382.9

88.795.498.092.1

109.9

116.5115.8123.0130.2136.4

151.4176.5184.8184.2194.2

75.879.772.3

87.792.089.392.789.6

100.7102.097.594.1

108.5

105.7104.5109.3114.4121.1

127.6132.9130.7137.4142.1

73.577.471.6

83.780.282.489.786.8

97.9101.097.693.3

109.0

113.3114.1124.5129.1138.4

151.8165.0162.6169.9176.6

81.084.580.6

89.187.489.590.786.9

95.598.096.995.0

108.1

107.5108.4115.1118.5125.2

135.8141.6139.4144.8143.9

66.769.469.3

76.779.477.782.685.0

92.597.197.897.0

105.2

109.0112.4116.7120.1127.5

135.3146.4149.6155.5164.7

47.550.849.4

60.767.469.975.274.7

86.891.495.695.5

108.9

113.9118.9131.2141.8152.5

164.6181.9190.0207.7222.4

Seasonally adjusted

138.1140.3140.3144.3148.1148.6

147.4124.1120.6123.2127.9134.8

139.5143.6146.2147.9149.3153.1

152.4151.3149.3150.4151.1151

163.9165.7166.5161.3164.9167.6

166.1166.2167.5172.1173.7175.4

176.4177.6178.5178.3179.2180.6

179.1180.6179.1179.5179.2180

183.4183.5183.3179.4180.4181.7

183.0183.8186.4186.2187.4188.5

191.8192.7194.7194.6196.9197.2

198.1199.4201.2198.9188.2188

175.6175.1177.6175.3180.4182.6

183.2181.7180.5180.4180.0176.4

171.2173.1174.1172.4171.8176.6

181.1179.1178.8175.7168.2164

186.7184.7183.8181.4181.2181.3

179.2182.6184.3185.8188.5189.7

191.6190.4192.8195.4195.3195.7

194.7194.9195.4193.9194.9194

132.7130.7129.0137.8137.9137.1

136.2135.3138.8140.0140.5144.3

143.8145.6145.1143.2143.6140.6

138.3140.2140.6140.6141.0141

165.2166.9166.9166.5169.8169.5

169.5170.1170.9172.2173.4173.4

176.6175.7176.5178.4179.0179.1

176.3176.2175.4174.7175.2174

141.1141.9143.9144.2144.8145.6

144.3144.1144.8146.9147.3145.1

143.6142.6144.7143.7146.3146.0

145.4143.3141.1141.7141.3142

150.0150.1152.4152.3155.1155.2

155.8156.9158.2158.0158.8160.8

160.2161.2162.2162.4163.8164.4

165.9166.3165.8165.7166.9166

197.9200.5201.6202.9204.6206.3

208.0208.3211.0213.1216.7215.9

214.1218.0.219.6221.7222.7223.2

225.2222.4223.3224.3224.9224

80.780.080.8

83.685.487.388.289.8

93.196.696.799.4

103.9

106.6110.2113.3116.8120.8

123.4128.1131.7135.3138.9

132.8133.7133.9134.3134.4135.6

136.0135.2135.3136.3135.0137.3

138.0139.5139.8138.2136.9137.0

138.4141.0140.4136.2138.6140


219


TABLE G-38.—Manufacturing output, capacity, and utilization rate, 1948-69

Period

1948. . .1949

195019511952.19531954

1955195619571958 . . .1959 . ._

19601961 -19621963 .1964

1965196619671968.1969 v

1963: 1IIIIIIV

1964- 1II . .INIV

1965: 1IIIIIIV

1966: 1 .IIIII „ .IV

1967: 1IIIllIV

1968:1 _

IIIIV . - - — _

1969" 1 * -| | V

HI vIV *

Output Capacity *

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

145.0158.6159.7166.9173.8

76.881.1

84.387.492.798.4

103.3

108.4114.3120.7125.8130.1

134.9139.6144.4149.8155.6

164.0175.0186.1196.9207.7

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

88.590.585.384.683.7

87 980 3

87 391 091 994.183.8

87 886.082.373.681.0

81.178.982.583.184.4

87.690.585.983.881.5

92 280 0

94 898 190 494 483.0

93 290 185 374.682.1

80.078.181.683.687.4

89.790.584.685.886.8

Seasonally adjusted

121.3124.9126.0127.2

129.4132.5134.7135.9

141.4143.5146.1148.9

154.5157.7159.9161.7

159.0157.5158.3161.3

163.9166.1166.9169.1

171.7173.9175.4172.4

147.8149.1150.5151.8

153.3154.9156.4158.0

160.1162.7165.3167.9

170.7173.6176.5179.3

182.1184.8187.5190.1

192.8195.5198.2200.9

203.6206.3208.9212.2

82.083.983.783.7

84.585.786.386.2

88.588.488.588.6

90.590.890.690.0

87.185.084.384.8

85.085.184.284.2

84.584.584.281.8

82.282.983.683.7

83.884.784.984.4

87.287.187.488.7

90.290.490.690.6

87.886.285.184.3

84.583.883.783.2

82.782.282.379.0

81.785.283.983.8

85.587.188.388.8

90.290.190.188.5

90.991.490.689.1

86.283.483.285.6

85.786.984.985.6

87.087.886.785.6

1 For description and source of data see "A Revised I ndex of Manufacturing Capacity " Frank de Leeuw, Frank E. Hopkins,and Michael D. Sherman "Federal Reserve Bulletin". November 1966, pp. 1605-1615. See also McGraw-Hill surveys on'Business Plans for New Plants and Equipment" for data on capacity and oparating 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).

2 2 0


TABLE C-39.—Business expenditures for new plant and equipment, 1947-69l


Year or quarter

1947... . .19481949

1950195119521953...1954

1955.1956... . .195719581959

196019611962. .19631964

1965... . .196619671968 .1969 P

1967' 1IIIIIIV .

1968: 1 .

IIIIV.. .

1969: 1I I . . . .III

Total

19.3321.3018.98

20.2125.4626.4328.2027.19

29.5335.7337.9431.8933.55

36.7535.9138.3940.7746.97

54.4263.5165.4767.7675.30

Manufacturing

Total

8.449.017.12

7.3910.7111.4511.8611.24

11.8915.4016.5112.3812.77

15.0914.3315.0616.2219.34

23.4428.2028.5128.3731.74

Dura-ble

goods

3.25

2 45

2.944.825.215.314.91

5.417.457.845.615.81

7.236.316.797.539.28

11.5014.0614.0614.1215.99

Non-durablegoods

5.195.714.68

4.455.896.246.566.33

6.487.958.686.776.95

7.858.028.268.70

10.07

11.9414.1414.4514.2515.74

Mining

0.69.93.88

.841.111.211.251.28

1.311.641.691.431.36

1.301.291.401.271.34

1.461.621.651.631.87

Transportation

Rail-road

0.911.371.42

1.181.581.501.42.93

1.021.371.58.86

1.02

1.16.82

1.021.261.66

1.992.371.861.451.83

Other

1.301.28.87

1 191 461.471.531.47

1.551.651.711.432.10

1.971.962.171.982.52

2.913.393.774.154.20

Publicutili-ties

1.542.543.10

3.243.563.744.343.99

4.034.525.675.525.14

5.245.004.904.985.49

6.137.438.74

10.2011.56

Com-mer-cialand

others

6.456.165.58

6 367.047.067.798.27

9.7311.1510.7910.2711.16

11.9912.5213.8415.0616.63

18.4920.5020.9421.9724.10


65.2365.6065.4865.66

68.0966.2967.7769.05

72.5273.9477.84

29.7829.1627.8527.51

28.0227.8428.8628.70

29.9931.1633.05

14.4614.2613.9213.71

14.1113.5114.4714.39

15.4715.9816.53

15.3214.9013.9313.80

13.9114.3314.4014.31

14.5215.1816.52

1.541.521.761.78

1.801.661.571.52

1.831.881.89

2.121.781.721.82

1.681.491.291.34

1.681.762.06

3.043.814.014.20

4.313.474.344.62

4.763.883.88

7.988.518.869.46

10.0810.249.82

10.63

11.5211.6811.48

20.7620.8321.2820.90

22.2021.5921.8922.24

22.7423.5925.49

1 Excludes agricultural business; real estate operators; medical, legal, educational, and cultural service; and nonprofitorganizations. These figures do not agree precisely with the fixed investment data in the gross national product estimates,mainly because those data include investment by farmers, professionals, institutions, and real estate firms, and certainoutlays charged to current account.

2 Commercial and other includes trade, service, finance, insurance, communications, and construction.Note.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the average of season-

ally adjusted figures.Series revised beginning 1947. Comparable data prior to 1947 are not available. A full description of the new actual ex-

penditure series will appear in the January 1970 issue of the "Survey of Current Business" and of the revised expectationsdata in the February 1970 issue.

Sources: Department of Commerce (Office of Business Economics) and Securities and Exchange Commission.

372-111 O—70 2 2 1


TABLE G-40.—New construction activity, 1929-69

[Value put in place, millions of dollars]

Year or month

1929

1930193119321933193419351936193719381939

1940194119421943194419451946

New series5

1946194719481949

1950195119521953195419551956 - - . .195719581959

1960196119621963New seriesfl

19621963196419651966196719681969 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

59,66763,42366,20072 31975,12076,16084,69092,020

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

41,79844,05745,81050,25351,12050,58756,99663,730

Residential build-ing (nonfarm)

Total*

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

24,29226,18726,25826,26823,97123,73628,82331 600

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

18,63820,38520,35420,35117,96417,88522,42323,640

Nonresidential building and otherconstruction

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

17,50617,87019,55223,98527,14926,85128,17332,130

Com-mer-cials

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

5,1444,9955,3966,7396,8796,9828,333

10,010

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

2,8422,9063,5655,1186,6796,1315,5946,380

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

10,59112,12813,59113,73814,24615,740

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

15,86317,14817,8S918,896

17,86919,36620,39022,06624,00025,57327,69428,290

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

3,9134,0103,9054,0183,9573,5123,4563,430

Stateand

locallyowned *

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

13,95615,35616,48518,04820,04322,06124,23824,860


222


TABLE C-40.—New construction activity, 1929-69—Continued

[Value put in place, millions of dollars]

Year or month

1968: JanF e b . . . .M a r . . . .A p r . . . .May . . . .J u n e . . .

J u l y . . . .AugSep t . . . .OctN o v . . . .D e c . . .

1969: JanF e b . . . .M a r . . . .AprMay . . . .J une . . . .

JulyAugSep t . . .O c t . . -N O V P . .

Totalnewcon-

struc-tion

Private construction

Total

Residential build-ing (nonfarm)

Total*New

hous-ing

units

Nonresidential building and other

Total

construction

Com-mer-c ia l

In-dus-trial

Others

Public

Total

construction

Fed-erallyowned

Stateand

locallyowned «


82,87383,88483,57285,29985,70782,050

81,65883,73685,26687,75787,81288,068

91,97292,06691,72292,69692,25491,539

91,78791,68793,60893,89691,950

55,31655,38056,05557,40357,26054,981

54,98856,68257,44459,25959,01458,899

62,87562,55062,76262,96263,56463,197

64,24264,00865,56465,81163,756

26,98826,75427,69829,32029,62828,187

27,77028,32529,35029,82330,15230,937

31,08431,43632,42332,93032,86631,805

31,38530,88031,05331,53031,203

21,22621,28221,67722,30022,31221,450

21,24821,91922,77123,56224,11824,953

24,97225,47225,45824,99524,49023,887

23,21422,57722,62423,00322,604

28,32828,62628,35728,08327,63226,794

27,21828,35728,09429,43628,86227,962

31,79131,11430,33930,03230,69831,392

32,85733,12834,51134,28132,553

7,7218,3288,2588,5128,1118,122

8,2728,6418,5348,9398,2628,046

9,9719,9419,7519,0669,284

10,020

10,41710,34311,11810,8569,557

6,3305,7405,5285,4845,2754,852

4,7525,5755,4926,0966,2715,905

6,8006,3186,0195,8575,9236,050

6,4046,4146,7146,9466,526

14,27714,55814,57114,08714,24613,820

14,19414,14114,06814,40114,32914,011

15,02014,85514,56915,10915,49115,322

16,03616,37116,67916,47916,470

27,55728,50427,51727,89628,44727,069

26,67027,05427,82228,49828,79829,169

29,09729,51628,96029,73428,69028,342

27,54527,67928,04428,08528,194

3,5283,6923,5613,3813,4363,287

3,0523,3843,3403,5393,5453,839

3,5513,4633,5303,7843,4883,574

3,1143,4133,4313,4373,168

24,02924,81223,95624,51525,01123,782

23,61823,67024,48224,95925,25325,330

25,54626,05325,43025,95025,20224,768

24,43124,26624,61324,64825,026

1 Total includes additions and alterations and nonhousekeeping units not shown separately.2 Office buildings, warehouses, stores, restaurants, and garages.3 Farm, institutional, public utilities, and all other private.4 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, except as noted.

223


TABLE G-41.—New housing starts and applications for financing, 1929-69[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 «

Appli-cations

forFHAcom-mit-

ments 3

Re-quests

forVAap-

prais-als

1929.

1930.1931.1932.1933.1934.1935.1936.1937.1938.1939.

1940.1941.1942.1943.1944.

509.0 509.0

330.0254.0134.0

330.0254.0134.0

93.0126.0221.0319.0336.0406.0515.0

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...1967...1968...1969 P..

326.11,023.21,268.51,362.11,466.1

.93.0

126.0215.7304.2332.4399.3458.4529.6619.5301.2183.7138.7

324.91,015.21,265.11,344.01,429.8

1,951.91,491.01,503.91,437.61,550.51,646.01,349.1

,553.5

,296.0,365.0,492.4,642.0,561.6,509.61,196.21,321.91,547.71,496.6

1,223.9,382.0,531.3

1,274.01,336.81,468.71,614.81,534.71,487.51,172.81,298.81,523.61,479.0

1,516.8

1,252.11,313.01,462.71,610.31,529.31,472.91,165.01,291.61,507.71,463.2

1,234.1

994.7974.4991.3

1,020.7971.5963.8778.5843.9899.5809.3

282.7

257.4338.6471.4589.6557.8509.1386.5447.7608.2653.8

908.1419.8445.4402.1531.8626.6324.9174.8314.2494.6

,230.1,284.8,439.0,582.9,502.3,450.6,141.5, 268.4

1,483.61,445. 5

13.248.857.0

106.8144.7

176.6217.1160.2126.183.6

38.967.1178.3216.4252.6

328.2186.9229.1216.5250.9268.7183.4150.1270.3307.0

225.7198.8197.3166.2154.0159.9129.1141.9147.7153.6

6 20.647.849.

131.1179.8

231.2288.5238.5144.462.9

78.891.8

160.371.190.8

191.2148.6141.3156.5307.0392.9270.7128.3102.1109.3

74.683.377.871.059.249.436.852.556.151.2

1,208.3

998.01,064.21,186.61,334.71,285.8,239.8971.9

,141.0,341.4, 296.2

56.6121.7286.4293.2327.0

397.7192.8267.9253.7338.6306.2197.7198.8341.7369.7

242.4243.8221.1190.2182.1188.9153.0167.2168.9187.6

Monthly totals, unadjusted

1968: Jan...Feb...Mar..Apr...May..June..

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

82.787.2

128.6165.2145.1142.9

142.5141.0139.8143.3129.599.8

164.4226.3251.4535.4620.8401.5159.4234.2234.0

142.9177.8171.2139.3113.6102.199.2

124.3131.7138.2

82.085.3

126.0162.2143.3141.1

140.0138.9138.0140.6127.598.9

80.584.6

126.6162.0140.9137.9

139.8136.6134.3140.8127.196.4

45.255.479.398.086.881.4

86.482.580.285.664.853.8

35.329.247.364.054.156.5

53.454.154.155.262.342.6

79.882.8

123.9159.1139.0136.0

137.3134.5132.4138.1125.195.5

9.710.612.014.313.812.3

12.913.612.214.511.410.5

3.44.14.55.45.55.0

4.94.84.65.34.24.4

73.488.8

115.5132.4130.5113.9

118.0113.7116.3127.6104.395.9

11.212.415.914.715.713.7

13.215.114.017.113.612.3

8.410.611.612.411.010.4

12.511.510.412.711.49.0


224


TABLE G-41.—New housing starts and applications for financing, 1929-69—Continued

[Thousands of units]

Year ormonth

Housing starts

Private andpublic^

Total(farm

andnon-

farm)

Non-farm

Private1

Total (farm and nonfarm)

Total

Type ofstructure2

Onefamily

Two ormore

families

Nonfarm

Total

Governmenthome programs

FHA3 VA

Newprivatehousing

unitsauthor-ized *

Proposedhome con-struction 5

Appli-cations

forFHAcom-mit-

ments3

Re-quests

forVAap-

prais-als

Monthly totals, unadjusted

1969:JanFebM a r . . . .AprM a y . . . .June

JulyAugSept . . . .O c t . . . .Nov *>-._Dec *>___

105.894.8

135.6159.9157.7150.8

126.5127.6132.9125.897.481.8

1968: Jan...Feb..Mar..Apr..May..June-July..Aug..Sept..Oct...Nov...Dec...

1969:Jan...Feb...Mar__Apr...May..June-

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

104.593.9134.4158.3156.1148.3

124.3126.2131.2124.595.981.5

101.590.1

131.9159.0155.5147.3

125.2124.9129.3123.494.680.5

51.347.971.985.091.382.7

73.569.571.568.054.442.2

50.242.260.074.064.264.6

51.755.457.955.340.238.3

100.289.2

130.6157.4154.0144.8

122.9123.5127.6122.193.180.2

8.89.2

12.716.013.413.9

13.112.613.115.112.213.4

3.83.53.94.44.34.6

4.74.24.85.03.94.2

92.794.6

119.4146.4126.2123.2

111.8104.0104.7109.182.981.0

12.513.916.116.915.516.2

15.314.616.820.014.815.2

10.19.9

12.212.211.511.4

13.613.011.111.411.510.1


1,4561,5371,5111,5911,3641,365

1,5311,5181,5921,5701,7331,507

1,8781,6861,5841,5631,5091,469

1,3711,3841,5421,3921,2971,245

9121,075

920922838790

904867944965905922

1,066975828797883808

765723846777783718

544462591669526575

627651648605828585

812711756766626661

606661696615514527

1,4301,4991,4791,5621,3451,348

1,5071,4961,5701,5411,7051,492

1,8451,6641,5671,5481,4951,446

1,3491,3701,5221,3791,2771,240

157164149147133137

134144145153158158

137138157166134147

137143152163179193

526363595754

495154555365

575253484748

464754525359

1,1481,3941,4161,3401,2801,281

1,2891,2901,3931,3781,4251,463

1,4031,4771,4211,5021,3231,340

1,2281,2451,2011,1831,1911,177

163152160144161157

146167169199212187

179169161166168175

175170193231239209

122141127126110120

135127125147172136

148132136124122126

145151127130184147

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.s Units are for 1 - to 4- family housing.< Data beginning 1967 cover approximately 13,000 permit-issuing places. Data for 1963-66 are based on 12,000 places

and 1959-62,10,000 places. The addition of approximately 1,000 permit-issuing places in 1967 contributed an increase of3 percent in total permit authorizations.

« Units in mortgage applications or appraisal requests for new home construction.« FHA program approved in June 1934: all 1934 activity included in 1935.i 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, Federal

Housing Administration (FHA), and Veterans Administration (VA), except as noted.

225


TABLE C-42.—Sales and inventories in manufacturing and trade, 1947-69

[Amounts in millions of dollars]

Year or month

Total manufacturingand trade

Sales i Inven-tories 2 Ratio 3

Manufacturing

Sales i Inven-tories 2 Ratio s

Merchant wholesalers

Sales i Inyen-tories 2 Ratio 3

Retail trade

Salesi Inven-tories 2 Ratio 3

1.261.391.41

1.381.641.521.531.51

1.431.471.441.431.40

1.451.441.381.391.40

1.401.441.471.441.49

1947—1948—1949—

1950—1951—1952—1953—1954—

1955—1956—1957—1958—1959—

1960...19614..1962...1963...1964...

1965...1966—1967...1968...1969 K.

35,26033,788

38,59643,35644,84047,98746,443

51,69454,06355,87954,23359,661

52,50749,497

59,82270,24272,37776,12273,175

79,51687,30489,05286,92291,891

60,74661,13365,417 10168,96973,685 111

94,74795,728.01,149105,525-",548

80,276 12187,184 13788,962 143;96,915 "•_,

103,896 164,

,140,184,694

153,764164,992

1.421.53

1.361.551.581.581.60

1.471.551.591.601.50

1.561.541.511.491.47

1.451.481.581.531.54

15,51317,31616,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,28030,219

30,79630,89633,11335,03237,335

41,00344,87645,71250,31054,780

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,07052,707

53,81454,94358,21260,02763,370

68,17978,12582,81988,57995,416

1.581.571.75

1.481.661.781.761.81

1.621.731.801.841.70

1.761.741.721.691.64

1.601.621.771.701.68

6,16,514

7,6958,5978,7829,0528,993

9,89310,51310,47510,25711,491

11,65611,98812,67413,38214,527

15,59516,97917,09918,32919,776

7,9577,706

9,2849,88610,21010,68610,637

11,67813,26012,73012,73913,879

14,12014,48814,93616,04816,977

18,27420,69121,55722,52824,039

1.131.19

1.071.161,121.171.18

1.131.191.231.241.15

1.221.201.161.151.13

1.141.141.211.201.18

10,20011,13511,149

12,26813,04613,52914,09114,095

15,32115,81116,66716,69617,951

18,29418,24919,63020,55621,823

23,67725,33026,15128,27729,340

14,24116,00715,470

19,46021,05021,03121,48820,926

22,76923,40224,45124,11325,305

26,81326,29728,00129,45031,201

34,68738.36839,31842,65745,537

Seasonally adjusted

1968: JanFeb.._.M a r . . . .AprM a y . . .June.__

Ju ly . . .AugSept—Oct.__.N o v . . .Dec

1969: Jan..__Feb..__M a r . . .Apr.._May. .June__

July..Aug.. .Sept..Oct.. .Nov *>.Decp.

93,18493,758 144;94,463 145,94,552 146,96,069 147,97,423 148,

144,029••1,738

i,082,405,7271,436

98,368 148,97,08398,549 150;99,675

100,142 152i 83098,671

.1,972149,825150,652152,017152,830153,764

100,137 154101,390 155,101,510 156,102,352 157,103,232104,127

104,201104,644 161105,903 162106,907106,036 164;

,086,3391,401,477

158,602159,264

160,631"",659

J.733164,250' " , 9 9 2

1.551.541.541.551.541.52

1.511.541.531.531.531.56

1.541.531.541.541.541.53

1.541.541.541.541.56

48,44748,35648,44648,75550,01450,729

51,42549,82551,44152,56052,54851,494

52,80153,30253,07853,29853,74154,786

55,39255,23956,43456,99956,143

82,89083,40883,75984,38285,27885,582

85,82986,71387,10987,56687,94788,579

88,90589,55690,31791,01892,13992,215

93,16693,72894,21194,91695,416

1.711.721.731.731.711.69

1.671.741.691.671.671.72

.68

.68

.70

.71

.71

.68

1.681.701.671.671.70

17,69417,95318,02118,00617,89718,374

18,26918,49818,79218,41818,78818,830

18,34718,79919,51619,61220,10519,970

19,71920,05920,21020,28820,345

21,56421,54221,54721,78121,84322,012

22,07822,10222,11922,23122,39522,528

22,44122,76923,08023,34123,43823,611

23,59123,60923,71623,95624,039

1.22.20.20.21.22.20

.21

.19

.1821.19.20

.22

.21

.181.191.171.18

1.201.181.171.181.18

27,04327,44927,99627,79128,15828,320

28,67428,76028,31628,69728,80628,347

28,98929,28928,91629,44229,38629,371

29,09029,34629,25929,62029,54829,581

39,57539,78839.77640,24240,60640,842

41,06541,01041,42442,22042,48842,657

42,74043,01443,00443,11843,02543,438

43,87444,32244,80645,37845,537

1.461.451.421.451.441.44

1.431.431.461.471.471.50

1.471.471.491.461.461.48

1.511.511.531.531.54

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.31nventory/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.< Manufacturing sales prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau

of the Census, "Series M3-1.1," page 9, September 1968.5 Where December data not available, data for year calculated on basis of no change from November.

Mote.—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).

226


TABLE C-43.—Manufacturers9 shipments and inventories, 1947-69

[Millions of dollars]

Year or month

19471948 . . .1949

1950 . .1951195219531954

19551956 - -195719581959

196019613

196219631964 .

19651966 .19671968 . - - -1969* - . - .

1968: JanFebMarAprM a y . . . .June

JulyAugSept . . - .OctNovDec

1969:JanFebMarAprMayJune

JulyAugSeptOct p . —Nov *_-.

Shipments i

Total

15,51317,31616,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,28030,219

30,79630,89633,11335,03237,335

41,00344,87645,71250,31054,780

Dura-ble

goodsindus-tries

6,6947,5797,191

8,84510,49311,31313,34911,828

14,07114,71515,23713,57215,544

15,81715,54417,10318,24719,634

22,21624,63524,97327,57930,452

Non-durablegoodsindus-tries

8,8199,7388,935

9,78911,22111,21611,49411,527

12,40913,02513,49913,70814,675

14,97915,35216,01016,78617,701

18,78820,24020,73922,73124,328

Inventories 2

Total

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,07052,707

53,81454,94358,21260,02763,370

68,17978,12582,81988,57995,416

Durable goods industries

Total

13,06114,66213,060

15,53920,99123,73125,87823,710

26,40530,44731,728

Mate-rialsandsup-plies

8,9667,894

9,19410,41710.608

30,095 9.' 84731,839

32,360

10,585

10.28632,518 10:24134,60935,80738,433

42,20449,79753,54057,42263,076

10,80310,99711,928

13,28515,48415,59216,63717,194

Workin

process

10,7209,721

10,75612,31712,83712,29412,952

12,78013,22114,21015,00016,254

18,14421,97624,67526,35729,660

Fin-ishedgoods

6,2066,040

6,3487,5658,1257,7498,143

9,1909,0569,5969,810

10,251

10,77512,33713,27314,42816,222

Nondurable goods industries

Total

12,83613,88113,261

15,53918,31517,40518,07017,902

18,66420,19520,14319,97520,868

21,45422,42523,60324,22024,937

25,97528,32829,27931,15732,340

Mate-rialsandsup-plies

8,3178,167

8,5568,9718,7758,6719,089

9,1139,4639,8379,999

10,179

10,47811,26611,24711,59811,963

Workin

process

2,4722,440

2,5712,7212,8642,8002,928

2,9353,1923,3033,4123,519

3,8234,2554,4964,8555,058

Fin-ishedgoods

7,4097,415

7,6668,6228,6248,4988,857

9,3539,770

10,46310,80911,239

11,67412,80713, 53614,70415,319

Seasonally adjusted

48,44748,35648,44648,75550,01450,729

51,42549,82551,44152,56052,54851,494

52,80153,30253,07853,29853,74154,786

55,39255,23956,43456,99956,143

26,92526,71126,84426,88827,50927,633

28,21126,83727,98528,96028,78627,742

29,32529,91429,53029,64329,57330,136

30,60530,86831,74231,88931,099

21,52221,64521,60221,86722,50523,096

23,21422,98823,45623,60023,76223,752

23,47623,38823,54823,65524,16824,650

24, 78724,37124,69225,11025,044

82,89083,40883,75984,38285,27885,582

85,82986,71387,10987,56687,94788,579

88,90589,55690,31791,01892,13992,215

93,16693,72894,21194,91695,416

53, 52554,00954,29554,72455,23455,442

55,46156,06956,45856,65756,95357,422

57,87958,28258,97859,42660,22260,479

61,44161,72462, 03662,63163,076

15,48915,64815,84016,07116,37916,498

16,75316,78116,70416,76316,67616,637

16,70616,61316,98016,93517,05517,045

17,15917,01117, 02317,10417,194

24,64124,92625,07825,21425,39225,490

25,23725,54425,77225,82526,08526,357

26,63126,96127,26427,46327,87228, 072

28,71428,97729,22429,49429,660

13,39513,43513,37713,43913, 46313,454

13,47113,74413,98214,06914,19214,428

14,54214,70814,73415,02815,29515,362

15,56815,73615,78916,03316,222

29,36529,39929,46429,65830,04430,140

30,36830,64430,65130,90930,99431,157

31,02631,27431,33931,59231,91731,736

31,72532, 00432,17532,28532,340

11,30611,24911,12811,22811,31211,333

11,36611,50811,51111,60911,51211,598

11,49711,55411,51911,67211,78311,704

11,68411,79011,83712,04811,963

4,4824,4974,5084,5224,6044,619

4,6824,7294,6794,7244,7524,855

4,9915,0144,9434,9705,0164,946

4,9454,9885,0285,0625,058

13,57713,65313,82913,90914,12814,188

14,32014,40714,46114,57614,73014,704

14, 53814,70614,87714,95015,11815,086

15,09615,22615,31015,17515,319

1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.3 Data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau of the Census,

"Series M3-1.1," page 9, September 1968.< Where December data not available, data for year calculated on basis of no change from November.


227


TABLE C-44.—Manufacturers1 new and unfilled orders, 1947-69

[Amounts in millions of dollars]

Year or month

1947..1948..1949..

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

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

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

1965..1966..1967..1968..1969 5.

1968: Jan..Feb..Mar..Apr..May_.June.

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

1969: Jan...Feb..Mar_.Apr_.May..June.

July...Aug...Sept—Oct....NOVP.

New orders1

Total

15,25617,69215,614

20,11023,90723,20323,53.322,313

27,42328,38327,51426,90130,679

30,11531,08533,00535,32237,952

41,80345,93845,92850,59754,956

Durable goodsindustries

Total

6,3888,1266,633

10,16512,84112,06112,10510,743

14,95415,38114,07313,17015,951

15,22315,69817,02618,52220,258

22,98625,71025,18927,86830,630

Machin-ery andequip-ment

2,0841,770

2,4992,8702,5662,3542,878

2,7912,8543,0903,4123,935

4,4355,2685,2505,8046,402

Non-dura-

blegoodsindus-tries

8,8689,5668,981

9,94511,06611,14211,42811,570

12,46913,00213,44113,73114,728

14,89215,38715,97916,80017,694

18,81720,22820,73922,72824,327

Unfilled orders2

Total

34,41530,71724,506

43,05569,78575,64961,17848,266

60,00467,37553,18348,88254,494

46,13348,48547,35150,96058,536

68,20881,07283,68687,15289,288

Dura-ble

goodsindus-tries

28,53226,60120,018

36,83865,83572,48058,63745,250

56,24163,88050,35245,73950,654

43,40145,33644,53147,98055,652

64,98077,98780,57884, 07186,235

Non-dura-

blegoodsindus-tries

5,8834,1164,488

6,2173,9503,1692,5413,016

3,7633,4952,8313,1433,840

2,7323,1492,8202,9802,884

3,2283,0853,1083,0813,053

Unfilled orders-ship-ments ratio 3

Total

3.42

3.633.873.352.602.85

2.582.522.462.412.50

2.632.922.832.78

Dura-ble

goodsindus-tries

Seasonally adjusted

4.12

4.274.554.003.493.44

3.213.022.962.892.99

3.133.503.393.38

Non-dura-

blegoodsindus-tries

48,35348,45349,56649,23749,65049,850

50,18150,20151,87753,93153,10053,101

53,11953,90153,28354,63554,13353,861

55,79354,79956,82956,91756,103

26,83726,81428,00527,37327,17226,701

26,92527,32928,38130,28029,32529,380

29,68430,48229,69730,94429,99829,171

31,06930,48232,13531,79531,049

5,4665,3805,3825,4925,4475,968

5,7146,0275,9166,5506,0896,237

6,2046,5116,4147,0996,4286,528

6,3466,2457,3526,4506,402

21,51621,63921,56121,86422,47823,149

23,25622,87223,49623,65123,77523,721

23,43523,41923,58623,69124,13524,690

24,72424,31724,69425,12225,054

83,59283,68984,80985,29184,92784,048

82,80683,18483,61784,99185, 53987,152

87,46988, 06488,26789,60389,98689, 058

89,45689, 01489,41189,33389,288

80,49080,59381,75482,23981,90280,970

79,68480,17780,57281,89482,42984,071

84,43184,99485,15986,46186,87885,910

86,36985,98486,37786,28886,235

3,1023,0963,0553,0523,0253,078

3,1223,0073,0453,0973,1103,081

3,0383,0703,1083,1423,1083,148

3,0873,0303,0343,0453,053

2.802.792.822.832.782.72

2.642.792.672.642.672.78

2.682.652.672.692.702.64

2.642.622.572.522.55

3.373.363.393.413.363.28

3.173.383.243.193.223.38

3.223.183.213.243.263.17

3.203.153.073.033.07

0.96

1.121.04.85.55

.63

.75

.68

.65

.59

.62

.56

.53

.48

0.52.52.52.50.49.50

.50

.50

.48

.48

.48

.48

.47

.47

.48

.48

.47

.47

.45

.45

.45

.44

.45

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.* Data prior to 1961 not completely comparable with later data. Comparable data for new orders (total, durable, and non-

durable) are available for 1958, 1959, and 1960 only. See Department of Commerce, Bureau of the Census, "SeriesM3-1.1," page 9, September 1968, for these data.

5 Where December data not available, data for year calculated on basis of no change from November.


228


PRICESTABLE G-45.—Consumer price indexes, by major groups, 1929-69

For city wage earners and clerical workers

[1957-59 = 100]

Yeaf or month

1929 .

193019311932193319341935 .1936193719381939

19401941194219431944 . .19451946194719481949

1950195119521953 . .195419551956195719581959

196019611962 . . . . .196319641965 . . . .1966196719681969

1968: Jan. .F e b . . . .MarAprMayJune .

July..AugSept.OctNovDec

1969:Jan...FebMar.Apr._ .MayJune..

JulyAug.Sept . ._OctNov.Dec

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 3121.2127.7

118.6119.0119.5119.9120.3120.9

121 5121.9122.2122.9123.4123.7

124.1124 6125 6126.4126.8127.6

128 2128 7129.3129 8130.5131.3

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 2119.3125.5

117.0117.4117.9118.3118.8119.1

120.0120.5120.4120.9120.5121.2

122.0121 9122 4123.2123.7125.5

126 7127.4127.5127 2128.1129.9

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. 5

in. i114 3119.1126.7

116.4116 9117.2117.5117.8118.7

119 5120.1120 4120.9121.7122.3

122.7123 3124 4125.3125.8126.3

127 0127 8128.6129 2129.8130.5

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 4115.1118.8

113.7113 9114.2114 4114.6114.9

115 1115.4115 7116.0116.3116.7

116.9117 2117 5117.8118.1118.5

118 8119 3119.7120 1120.5121.0

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 0120.1127.1

115.9116.6117.6118.4119.5119.9

119.7120.3122.2123.3124.0124.3

123.4123 9124 9125.6126.6127.0

126 8126.6128.7129 8130.7130.8

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 9119.6124.2

118.7118.6119.0119.0119.1119.7

119.8120.0119.5120.6121.2120.2

120.7122 0124 3124.6124.0124.6

124 3124 2123.6125 7125.6126.4

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 2117.0119.4122.3127.7136.7145.0155.0

141.2141.9142.9143.5144.0144.4

145.1145.5146.4147.4148.2149.1

150.2151 3152 5153.6154.5155.2

155 9156.8157.6156 9157.4158.1

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 5107.9109.2109.9112.2115.5120.3126.2

117.6117.6118.4119.0119.6120.1

120.4120.9121.5122.1122.8123.4

123.7124 1124 8125.5125.8126.2

126 6126 8127.3127 3127.8128.1

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

104.9107.2109.6111.5114.1115.2117.1120.1125.7130.5

122.7123.0124.2124.9125.3125.6

125.9126.3126.7127.5128.0128.2

128.4128 4128.7129.6130.2130.4

130.7131.2131.6132.0132.3132.7

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

103.8104.6105.3107.1108.8111.4114.9118.2123.6129.0

121.9122.1122.4122.5122.6123.5

123.9124.2124.4125.1125.4125.6

125.6125.8126.1126.6126.9127.9

129.1130.1131.3132.2133.1133.5


229


TABLE C-46.—Consumer price indexes, by special groups, 1935-69


[1957-59=100]

Year ormonth

19351936193719381939

19401941194219431944 , .19451946194719481949..

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1968: Jan. . .Feb...Mar._Apr...May. .June..

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

1969: Jan. . .Feb...Mar . .Apr...May. .June..

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

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

103.1104.2105.4106.7108.1109.9113.1116.3121.2127.7

118.6119.0119.5119.9120.3120.9

121.5121.9122.2122.9123.4123.7

124.1124.6125.6126.4126.8127.6

128.2128.7129.3129.8130.5131.3

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

103.7104.8106.1107.4108.9110.4113.0116.8121.9128.6

119.3119.7120.2120.6121.0121.6

122.1122.6123.0123.8124.4124.7

124.9125.6126.8127.5127.9128.4

128.8129.3130.0130.8131.4131.9

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

103.0104.2105.4106.7108.0109.6112.9115.9120.6126.3

118.2118.5119.1119.6120.0120.4

120.8121.2121.5122.2122.5122.7

123.1123.5124.4125.0125.4126.3

126.7127.1127.6128.1128.6129.5

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

101.7102.3103.2104.1105.2106.4109.2111.2115.3120.5

113.2113.5113.9114.3114.7115.1

115.5115.9116.1116.8117.1117.2

117.4117.8118.7119.3119.6120.5

121.0121.4121.7122.4122.9123.6

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

101.4102.6103.6105.1106.4108.8114.2115.2119.3125.5

117.0117.4117.9118.3118.8119.1

120.0120.5120.4120.9120.5121.2

122.0121.9122.4123.2123.7125.5

126.7127.4127.5127.2128.1129.9

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

101.7102.0102.8103.5104.4105.1106.5109.2113.2118.0

111.2111.5111.9112.2112.5113.0

113.2113.5113.9114.7115.3115.2

115.0115.7116.8117.2117.5118.0

118.1118.2118.7119.8120.2120.3

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

100.9100.8101.8102.1103,0102.6102.7104.3107.5111.6

106.3106.4106.6106.9106.9107.4

107.6107.7107.6108.5109.3108.7

108.6109.7111.1111.4111.3111.7

111.9111.9111.6113.2113.5113.6

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

102.6103.2103.8104.8105.7107.2109.7113.1117.7123.0

115.1115.6116.1116.4117.0117.5

117.6118.1118.9119.7120.2120.3

120.1120.5121.4121.9122.4123.0

123.1123.3124.4125.1125.5125.7

Totalnon-

dura-ble

44.545.146.844.743.8

44.347.454.359.059.561.268.082.088.085.4

85.994.095.194.994.894.195.498.4

101.0100.6

101.9102.8103.6104.9106.0107.9111.8114.0118.4124.1

116.0116.4116.9117.3117.8118.2

118.7119.2119.6120.2120.3120.7

121.0121.1121.8122.5123.0124.1

124.7125.2125.8126.1126.7127.7

AMservices

Services

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

106.6108.8110.9113.0115.2117.8122.3127.7134.3143.7

130.8131.3132.1132.5133.0133.9

134.9135.5136.0136.6137.4138.1

139.0139.7140.9142.0142.7143.3

144.0145.0146.0146.5147.2148.3

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

103.1104.4105.7106.8107.8108.9110.4112.4115.1118.8

113.7113.9114.2114.4114.6114.9

115.1115.4115.7116.0116.3116.7

116.9117.2117.5117.8118.1118.5

118.8119.3119.7120.1120.5121.0

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

107.4110.0112.1114.5117.0120.0125.0131.1138.6149.2

134.6135.2136.1136.6137.1138.1

139.3140.0140.5141.2142.0142.9

143.9144.6146.1147.4148.1148.8

149.6150.7151.7152.3153.1154.3


230


TABLE C-47.—Consumer price indexes, selected commodities and services, 1935-69


(1957-59=100)

Year ormonth

Durable commodities

Total i Newcars

Usedcars

House-hold

dura-bles

Housefur-nish-ings

Nondurable commod-ities less food

TotalApparel

com-mod-ities

Non-dura-bleslessfoodand

apparel

Services less rent

Total

House-holdserv-iceslessrent

Trans-porta-tion

serv-ices

Med-icalcareserv-ices

Other*

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.

47.147.850.851.750.6

40.340.641.443.442.4

50.253.660.962.968.773.977.383.889.991.2

92.299.2

100.599.897.395.495.498.5

100.0101.5

100.9100.8101.8102.1103.0102.6102.7104.3107.5111.6

106.3106.4106.6106.9106.9107.4

107.6107.7107.6108.5109.3108.7

108.6109.7111.1111.4111.3111.7

111.9111.9111.6113.2113.5113.6

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

100.8102.4

101.0100.8100.6100.3100.3100.1

99.899.198.4

102.8103.8102.7

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

101.4105.5

99.699.9

100.4100.8101.1101.3

101.5101.6102.0102.3102.8103.0

103.3103.7104.4105.0105.6105.8

106.0106.0106.2106.4106.5106.5

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

100.8104.7109.0

102.6103.1103.8104.2104.4104.7

104.8104.9105.4105.9106.5106.6

106.6107.1107.8108.3108.8109.0

109.3109.4109.9110.2110.4110.6

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

102.6103.2103.8104.8105.7107.2109.7113.1117.7123.0

115.1115.6116.1116.4117.0117.5

117:6118.1118.9119.7120.2120.3

120.1120.5121.4121.9122.4123.0

123.1123.3124.4125.1125.5125.7

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

102.0102.6103.0104.0104.9105.8108.5113.0119.3126.5

114.8115.6116.6117.6118.7119.1

118.9119.5121.5122.7123.4123.7

122.6123.1124.3124.9126.0126.4

126.2125.9128.1129.3130.4130.3

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

102.8103.3104.2105.3106.2108.0110.3113.1116.8121.0

115.3115.5115.8115.8116.0116.6

116.9117.3117.4117.9118.3118.3

118.6118.9119.7120.2120.3121.0

121.3121.7122.2122.6122.6123.0

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

107.4110.0112.1114.5117.0120.0125.0131.1138.6149.2

134.6135.2136.1136.6137.1138.1

139.3140.0140.5141.2142.0142.9

143.9144.6146.1147.4148.1148.8

149.6150.7151.7152.3153.1154.3

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

107.0109.5111.2112.4115.0119.3124.3128.4133.5142.9

131.5131.9132.4132.7132.9133.3

133.5133.6133.8134.6135.2136.8

139.2139.8140.9141.4141.8142.3

142.5143.1144.0145.1145 8148.4

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

109.1113.1116.8120.3123.2127.1133.9145.6156.3168.9

151.4152.3153.6154.3155.0155.5

156.6157.1158.2159.4160.3161.4

162.8164.3165.8167.2168.2169.1

170.1171.1172.2171.2171.8172.8

1960...1961...1962...1963...1964...1965...1966...1967...1968...1969....

1968:Jan. . .Feb_.Mar..Apr_.May..June..

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

1969: Jan_.Feb_.Mar_.Apr. .May..June.

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

102.3102.3102.4101.9101.8101.8

101.6101.099.5

104.2105.1104.9

108.492.287.283.994.097.4

108.8

101.6105.6115.2116.6121.6120.8117.8121.5

125.3

125.8123.6

126.3126.7

126.7

118.7

115.5122.6130.5131.2126.8128.2

127.0125.4121.4125.8124.9123.9

90.495.7

100.8103.6

10&0109.2110.6113.0114.8117.0121.5127.0134.5146.4

129.9130.6131.1131.5132.1133.7

135.6136.7137.0137.6138.5139.2

139.8140.6142.5144.2145.0145.7

146.9148.2149.5150.4151.4152.4

93.597.2

100.2102.6

106.2109.7112.6115.3118.5121.8126.5131.5138.8145.5

134.8135.3137.0137.6138.3138.9

139.2139.7140.3140.9141.5142.0

142.3142.7143.2144.2144.7145.2

145.7146.5147.2147.6148.2148.9

» Includes certain items not shown separately.3 Includes the services components of apparel, personal care, reading and recreation, and other goods and services.Source: Department of Labor, Bureau of Labor Statistics.

231


TABLE G-48.— Wholesale price indexes, by major commodity groups, 1929-69

[1957-59=100]

Year or month

1929

193019311932193319341935.1936193719381939

194019411942 .1943. .194419451946194719481949

1950195119521953 .19541955195619571958 . . .1959

1960 . .196119621963196419651966196719681969

1968* JanFebMarApr . . . .MayJune



JulyAugSentOctNovDec . . .

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

100.7100.3100.6100.3100.5102.5105.9106.1108.7113.0

107.2108.0108.2108.3108.5108.7

109.1108.7109.1109.1109.6109.8

110.7111.1111.7111.9112.8113.2

113.3113.4113.6114.0114.7115.1

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

102.2108.5

99.0101.3102.1102.1103.6102.5

103.9101.4102.8101.2103.1103.3

104 9105.0106.5105.6110.5111.2

110.5108.9108.4107.9111.1111.7

Processedfoods and

feeds

92.699.190.0

93.2103.5102.397.699.395.094.897.6

102.599.9

100.0101.6102.7103.3103.1106.7113.0111.7114.1119.8

112.4113.3112.9112.8113.6114.6

115.9114.9115.3114.4114.7114.7

116.0116.3116.4117.3119.4121.4

122.0121.5121.3121.6121.8122.6

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

101.3tO(T8100.8100.7101.2102.5104.7106.3109.0112.7

107.8108.3108.6108.8108.6108.8

108.8108.9109.2109.7109.9110.2

110.9111.4112.0112.1112.2112.2

112.4112.8113.2113.8114.2114.6

Industrial commodities

Textileproducts

andapparel

105 7110.3100.9

104.8116.9105.5102.8100.6100.7100.7100.898.9

100.4

101.599.7

100.6100.5101.2101.8102.1102.0105.7108.0

104.3104.6104.6104.7104.8105.2

105.8106.0106.5107.0107.2107.1

107.4107.2107.1107.1106.9107.2

107.7108.7109.0109.1109.2109.2

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

105.2106.2107.4104.2104.6109.2119.7115.8119.5125.8

116.5116.7117.9118.3118.8118.7

119.5119.5120.7122.3122.4122.8

123.5123.4123.4126.0126.1125.7

126.4126.4128.2127.4126.8126.5

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

101.3103.6102.4104.6

101.8102.5102.0102.4102.4103.7

103.3102.6102.5101.9102.0102.2

102.4102.7104.2104.5104.5105.0

105.0104.7104.7105.4105.5105.1

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

100.299.197.596.396.797.497.898.498.298.3

98.298.198.698.898.798.5

98.298.197.997.897.897.7

97.697.898.097.998.198.3

98.298.798. S98.698 998.8


232


TABLE C-48.—Wholesale price indexes, by major commodity groups, 1929-69—Continued[1957-59=100]

Year or month

1929

1930193119321933193419351936193719381939

19401941194219431944 . . .19451946194719481949

1950195119521953195419551956195719581959

19601961196219631964196519661967 .196819691968: Jan..

Feb..MarAprMayJune

JulyAugSeptOct_ .Nov...Dec

1969: Jan.. . .FebMarAprMay.June

July.AugSeptOctNov..Dec

Industrial commodities—Continued

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

99.996.193.393.892.592.994.896.9

100.3102.199.599.599.799.799.899.9

100.7100 6100.7101.0101.1101.1

100.0100.5100.9101.2101.1101.2

102.5103.0102.7103.5104.4104.5

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

100 495.996.5

. 98.6A100 6

v. ioi. 1Y 105.6

105.4119.3132. 0

108.6111.6113.9115.8117.0117.2

119.2120 5122.6124.9126.8133.5

137.8144.5149.5143.3138.0129.8

125.3124.0123.2122.6123.9122.5

Pulp,paper,

andallied

products

75.378.675.2

77.191.389.088.788.891.197.299.0

100.1101.0

101.898.8

100.099.299.099.9

102.6103.8105.2108.2

105.2105.7105.2105.2105.5104.7

104.9104.9105.1105.2105.2105.2

106.2106.8107.4108.0108.1108.3

108.4108.7108.8109.0109.3109.5

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

101.3100.7100.0100.1102.8105.7108.3109.6112.4118.9

112.2113.3113.8113.3111.7111.7

111.4111 3112.2112.5112.4112.8

114.4115.2115.8116.5117.5117.9

118.7120.4121.7122.4122.9123.8

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

102.9102.9102.9103.1103.8105.0108.2111.8115.2119.0

113.9114.1114.3114.8115.0115.0

115.2115 4115.8116.1116.6116.7

117.0117.3117.8118.0118.3118.6

119.0119.1119.9120.5121 0121.9

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

101.1104.0106.1

103.0103.3103.6103.8104.0103.9

104.1104 2104.4104.5104.7105.0

105.3105.4105.7105.8105.9105.9

106.1106.2106.4106.5106 9107.2

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

101.4101.8101.8101.3101.5101.7102.6104.3108.1112.8

106.0106.9107.3107.4107.8108.3

108.4108 7108.7108.9109.2109.3

110.6111.2111.9112.3112.6112.8

113.0113.0113.5113.8113 9114.5

Trans-portationequip-ment:Motor

vehiclesand

equip-ment i

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

101.0100.8100.8100.0100.5100.7100.8102.2104.9107.0

104.3104.3104.3104.3104.2104.5

104.2104 4104.1106.5106.6106.6

106.5106.4106.3106.4106.5106.6

106.6106.0106.1108.7109.0109.0

Miscel-laneousproducts

80.383.685.2

86.691.791.293.694.494.595.898.6

100.6100.8

101.7102.0102.4103.3104.1104.8106.8109.3111.8114.7

111.0111.3111.5111.8111.8111.8

111.5111.6111.9112.0112.5112.5

112.5112.5112.5112.7112.8115.1

115.5115.9116.4116.7117.0117.0

i Index for total transportation equipment available only beginning December 1968.


233


TABLE C-49.— Wholesale price indexes, by stage of processing, 1947-69

[1957-59=100J

Year or month

194719481949

1950....1951195219531954

19551956195719581959

19601961 r_.1962 [...1963 "y...1964 ?l..X

i965 y.1966196719681969





Allcom-modi-ties

81.287.983.5

96.794.092.792.9

93.296.299.0

100.4100.6

100.7100.3100.6100.3100.5

102.5105.9106.1108.7113.0

107.2108.0108.2108.3108.5108.7

109.1108.7109.1109.1109.6109.8

110.7111.1111.7111.9112.8113.2

113.3113.4113.6114.0114.7115.1

Crude materials

Intermediate materials, supplies, and components1

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

101.1107.9

99.1100.9101.6101.4102.0101.4

102.6100.8100.9100.2101.5101.3

102.8103.8105.2105.7109.7111.2

110.2109.5108.7108.7109.0109.9

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

98.3107.2101.2102.5110.4

99.1101.8102.6102.9104.1103.2

104.9102.0102.1101.2103.2102.6

104.5105.9107.6107.6113.5115.6

113.8112.1110.4110.5111.0112.2

Non-food

mate-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

99.8101.995.597.4

102.0

98.298.498.997.696.696.7

96.897.497.797.096.897.1

97.998.399.5

101.1101.8102.1

102.6104.1104.8104.0104.0104.2

Total

Fuel

73.687.086.5

86.187.788.391.487.3

87.193.398.699.8

101.6

102.5102.3101.8103.0102.5

103.3106.4110.5112.7117.6

111.4111.7112.2112.3112.4112.2

112.5112.4112.6113.2114.3115.3

115.7115.4115.8116.2116.4116.8

117.1117.2118.1119.9121.1121.5

76.582.779.4

83.093.090.390.891.3

93.097.199.499.6

101. 0

101.0100.3100.2100.5100.9

102.2104.8105.6108.0111.8

106.9107.6107.7107.9107.7107.8

107.9107.9108.3108.5108.6109.2

110.1110.7111.4111.4111.4111.4

111.4111.9112.4112.8113.1113.5

Materials and components for

Total

75.581.578.0

81.892.788.890.290.4

92.696.999.399.7

101.0

101.099.899.299.4

100.4

102.0104.0104.7107.1110.8

106.3106.9107.1107.2106.9106.8

106.9106.8107.3107.4107.6107.8

108.5109.1109.6109.8110.2110.4

110.6111.4111.8112.2112.6112.9

manufacturing

For food

factur-ing

102.6105.891.0

94.7105.5101.4101.6100.7

97.597.999.7

102.098.3

99.5102.6100.5105.5104.0

106.6111.3109.2110.7116.8

108.7109.9109.6109.7110.6111.3

112.0111.3111.6110.6111.3111.5

112.7113.1113.4114.1116.3117.8

117.8118.4118.3119.2120.0119.9

Vlaterials

Fornon-durablemanu-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

98.799.598.7

100.2101.2

99.8100.199.9

100.0100.3100.0

100.0100.1100.4100.4100.5100.5

100.5100.6100.7100.8100.9101.1

101.2101.7101.7101.5101.7101.6

Fordurablemanu-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

104.6106.6108.1111.7118.1

110.9112.0112.7112.3110.9110.9

110.9110.9111.9112.2112.1112.9

114.8116.0117.0117.3117.5117.1

117.4118.7119.6120.0120.4121.4

Com-ponents

63.068.069.3

71.981.681.88S.383.7

87.495.499.199.9

101.1

100.699.698.898.899. lr

101.3104.9108.0110.5114.0

109.4109.9110.0110.6110.5110.3

110.4110.5110.6111.0111.3111.4

111.5111.9112.4112.6113.1113.4

113.9114.3115.1116.1116.7117.0

Mate-rialsand

com-ponentsfor con-

struc-tion

69.677.077.2

81.288.888.289.790.1

93.798.599.199.1

101.8

10L199.799.399.6

^100.6

101.4104.1105.41UU116.9

107.4108.5109.3109.9109.8110.0

110.4110.9111.7112.4112.9114.6

116.3118.3119.7118.4117.6116.0

115.4115.5115.8116.2116.7116.8


234


TABLE G-49.—Wholesale price indexes, by stage of processing, 1947-69—Continued

[1957-59=1001

Year or month

194719481949

19501951195219531954

19551956195719581959

I9601961196219631964

196519661967 . . . . .19681969

1968: JanFebMar.AprMay . . . .June

July.. .AugSeptOctNovDec


JulyAugSeptOctNovDec . . . .

Total

80.186.484.0

85.593.693.092.192.3

92.595.198.6

100.8100.6

101.4101.4101.7101.4101.8

103.6106.9108.2111.3115.3

109.7110.2110.4110.5110.9111.3

111.9111.4112.0112.0112.5112.6

113.2113.3113.7113.8114.7115.4

115.9115.7116.0116.5117.6118.0

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

102.8106.4107.0109.9114.0

108.2108.9109.0109.0109.5110.0

110.7110.0110.7110.6111.0111.1

111.8111.7112.2112.3113.5114.2

114.8114.4114.7115.1116.2116.5

Foods

90.799.091.0

92.8104.2103.397.997.1

94.794.597.8

103.598.7

100.8100.4101.3100.1100.6

104.5111.2109.5113.4120.3

110.6112.0111.9111.7113.0113.6

115.3113.7115.6113.9114.8115.2

116.8116.4117.1116.9120.1121.3

122.3121.2121.6121.2123.9124.5

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

102.8104.8107.2109.4112.3

108.0108.4108.6109.0109.1109.8

110.0109.7109.9110.0110.2110.2

110.4110.7111.2111.5111.4112.2

112.6113.0113.3113.6113.8114.1

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

99.6100.2101.7103.9105.8

103.5103.5103.6103.5103.5103.5

103.3103.6103.4104.9105.0105.0

105.1105.1105.3105.4105.4105.5

105.6105.2105.3106.9107.1107.2

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

105.4108.0111.6115.3119.3

114.0114.2114.4

.114.8114.9115.1

115.2115.4115.7116.4116.9117.1

117.6117.8118.0118.1118.5118.7

119.3119.3119.9120.8121.5122.3

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

100.9104.5100.0101.8110.5

101.4102.4103.1101.7100.5100.6

100.9101.0101.5102.2103.0103.8

105.0105.5107.2109.0109.7110.2

110.7112.5113.9113.7114.1114.5

Inter-mediate

materials,supplies,and com-ponents 3

73.479.877.8

81.491.288.389.489.8

92.597.099.699.4

101.0

101.4100.199.999.6

100.2

101.5103.6104.8107.5111.3

106.3107.0107.3107.5107.3107.2

107.3107.4107.8108.1108.2108.8

109.7110.4111.1111.0111.1110.8

110.9111.3111.8112.2112.6112.9

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

101.7103.2105.2107.4109.9

106 4106.7106.8107.0107.0107.5

107.5107.5107 5108.2108.4108.3

108.4108 7109.0109.2109 2109.7

110.0110 1110.3111.1111.3111.5

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

Note.—For a listing of the commodities included in each sector, see monthly report "Wholesale Prices and PriceIndexes," January-February 1967.


235


MONEY SUPPLY, CREDIT, AND FINANCETABLE C-50.— Money supply, 1947-69

[Averages of daily figures, billions of dollars]

Year and month

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply

Total

Cur-rencycom-po-

nent1

De-mand

depositcom-

ponent2

Timede-

positsad-

just-

Totalmoneysupply

andtime

depos-its

ad-justed

Money supply

Total

Cur-rencycom-po-

nent1

De-mand

depositcom-

ponent2

TimeAa

positsad-

just-ed 3

U.S.Gov-ern-mentde-

mandde-pos-its 4

1947: Dec1948: Dec1949: Dec

1950: Dec1951: Dec.1952: Dec1953: Dec.1954: Dec.

1955: Dec.1956: D e c1957: Dec..1958: Dec..1959: Dec

1960: Dec1961: Dec1962: Dec1963: Dec1964: Dec

1965: Dec..1966: Dec..1967: Dec.1968: Dec..1969: Dec p.

1968:Jan.. .Feb. . .Mar . .Apr . .May..June..

July..Aug_.Sept..Oc t . .Nov..D e c .

1969:Jan...Feb..Mar. .Apr. .May..June.

July.. .Aug. . .Sept . .O c t . . .Nov.. .Dec p..

Seasonally adjusted Unadjusted

148.5147.6147.6

152.9160.8168.6173.3180.6

185.2188.8193.3206.6209.3

213.9228.1245.2265.2285.9

313.4328.9365.4399.7393.8

366.7369.1371.5372.8375.1376.9

380.7384.8387.8391.3395.7399.7

399.0398.7399.1400.4400.0399.8

397.0393.5393.1392.6392.7393.8

113.1111.5111.2

116.2122.7127.4128.8132.3

135.2136.9135.9141.1141.9

141.1145.4147.4153.0159.3

166.7170.4181.7194.8199.7

182.6183.3184.2185.1186.8188.2

189.6191.0191.4191.8193.6194.8

195.8196.3196.8198.1198.3199.0

199.3199.0199.0199.1199.3199.7

26.425.825.1

25.026.127.327.727.4

27.828.228.328.628.9

28.929.630.632.534.2

36.338.340.443.446.0

40.640.741.141.341.641.9

42.142.442.742.843.243.4

43.543.844.144.244.544.8

45.045.345.245.645.946.0

86.785.886.0

91.296.5

100.1101.1104.9

107.4108.7107.6112.6113.1

112.1115.9116.8120.5125.1

130.4132.1141.3151.4153.7

35.436.036.4

36.738.241.144.548.3

50.051.957.465.467.4

72.982.797.8

112.2126.6

146.7158.5183.7204 9194.1

142.0 184.1142.6 185.8143.2143.8145.3146.3

187.2187.7188.21I88.6

147.5 191.1148.6 193.8148.8 196.4149.1 199.4150.5 202.1151.4 204.9

152.3 203.2152.5 202.4152.6 202.3154.0 202.3153.8 201.7154.2 200.8

154.4 197.7153.8 194.5153.7153.6153.4153.7

194.1193.5193.4,194.1

151.1150.0150.0

155.6163.8171.7176.4183.6

188.2191.7196.0209.3212.2

216.8231.2248.2268.2289.2

317.3332.7369.5404.1398.4

371.8367.7370.3374.2371.8375.2

379.3382.7386.7391.6396.5404.1

404.5397.2397.9401.9396.6398.0

395.5391.4391.9393.0393.6398.4

115.9114.3113.9

119.2125.8130.8132.1135.6

138.6140.3139.3144.7145.6

144.7149.4151.6157.3164.0

172.0175.8187.5201.0206.0

188.1181.9

26.826.225.5

25.426.627.828.227.9

28.428.828.929.229.5

29.630.231.233.135.0

37.139.141.244.347.0

40.540.3

182.6186.1183.2186.4

188.1188.0190.1192.0195.3201.0

201.7194.8195.0199.2194.4197.0

197.8195.9197.6199.3201.0203.0

40.741.041.341.8

42.342.542.742.843.644.3

43.543.443.743.844.244.7

45.245.445.245.646.447.0

88.188.4

93.899.2

103.0103.9107.7

110.2111.5110.4115.5116.1

115.2119.2120.3124.1129.1

134.9136.7146.2156.7159.1

147.5141.6141.9145.1141.9144.6

145.9145.5147.4149.2151.7156.7

158.2 202.8151.4 202.4151.3 202.9155.3 202.7150.3 202.2152.3 201.0

35.135.736.1

36.438.040.944.248.0

49.651.456.764.666.6

72.181.896.7

111.0125.2

145.2156.9182.0203.1192.4

183.8185.8187.8188.0188.6188.8

191.1194.7196.6199.6201.3203.1

152.7150.5152.4153.7154.7159.1

197.7195.5194.3193.7192.6192.4

1.01.82.8

2.42.74.93.85.0

3.43.43.53.94.9

4.74.95.65.15.5

4.63.45.05.05.5

5.07.26.74.36.55.6

5.85.66.16.34.55.0

4.96.94.85.49.26.0

5.64.35.34.25.15.5

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.

3 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.Note.—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 commercialbanks ($1.1 billion) is excluded from time deposits adjusted thereafter.


236


TABLE C-51.- -Bank loans and investments, 1930-69


End of year or month *

1930 June1931 June .1932 June1933 June1934 June193519361937. . .1938193919401941..194219431944 .1945194619471948

19481949195019511952 .19531954 . .1955 .195619571958 . .19591960.. .19611962 .1963 . .1964 _19651966196719681969 P

1968: Jan . . . .FebMar.Apr _.MayJune . .JulyAugSeptOct .Nov ._Dec

1969:Jan .FebMarAprMay.June . . .JuneJulyAugSeptOctpNov vDec v

All commercial banks

Total loansand invest-

ments 2

48.944.936.130.432.736.139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3114.2

Loans 2

34.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.4

Investments

U.S. Govern-ment securities

5 06.06 27.5

10.313 815.314.215 116.317.821.841.459 877.690.674.869 262.6

Othersecurities

9.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2

Seasonally adjusted

113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2185.9194.5209.6227.9246.2267.2294.4

s 310.5346 5384.6398.6349.9353.9352.5355.2357.3357.8365.9370.4374.6379.4381.6384.6385.9387.9386.6390.7392.2392.5

6 397 3397.7397.5396.5396.8399.7398.6

41.542.051.156.562.866.269.180.688.191.595.6

107.8113.8120.4134.0149.6167.7192.6

s 208.2225 4251.6276.2227.5229.2229.0231.4232.6233.5238.4241.1243.6246.7250.4251.6253.7258.4257.3261.0264.1264.3

6 269 2269.9270.3271.3273.3275.5276.2

62.366.461.160.462.262.267.660.357.256.965.157.759.865.364.661.760.757.153.659 761.551.860.062.059.960.361.060.463.163.964.064.261.061.560.858.157.457.756.156.2

6 56 356.856.954.753.453.251.8

9.210.312.413.414.214.716.416.816.317.920.520.520.823.929.235.038.744.8

M8.761.471.570.562.462.763.663.463.663.964.465.567.068.570.271.571.471.571.972.172.072.0

671.871.070.370.570.171.070.5

Weekly re-porting largecommercial

banks 3

Business loans*

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 53.160.765.873.181.664.964.966.467.466.969.069.068.069.369.771.273.172.973.775.076.776.678.4

77.676.678.177.678. C81.6

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.s Loans by weekly reporting large commercial banks beginning 1965 and formerly weekly reporting member banks.* 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.s Effective June 1966, balances accumulated for payment 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.

e New series beginning June 1969; for details see "Federal Reserve Bulletin", August 1969.Source: Board of Governors of the Federal Reserve System.

3 7 2 - 1 1 1 O—70 237


TABLE C-52.—Total funds raised in credit markets by nonfinancial sectors, 1961—69


Nonfinancial sector

Total funds raised .

U S Government

Public debt securities..Budget agency issues

All other sectors

Capital market instruments

Corporate equity sharesDebt capital instruments....

State and local govern-ments

Corporate and foreignbonds

Mortgages

Home.. . .Other residential..CommercialFarm

Other private credit

Bank loans n.e.cConsumer credit.. .Open-market paperOther

Total funds supplied directly

U S GovernmentU.S. Government credit agencies, net.

Funds advancedLess funds raised

Federal Reserve System . .Commercial banks, netPrivate nonbank finance

Savings institutions, netInsuranceFinance n e c , net. ,


Foreign

Private domestic nonfinancial . .

BusinessState and local government,

general fundsHouseholds.Less net security credit

1961

46.9

7.2

6.7.6

39.6

31.9

2.829.1

5.2

5.118.8

11.12.64.01.1

7.7

2.91.81.02.0

46.9

1.6.4

1.0.7

1.515.723.8

10.913.1- . 2

3.33.5

.8

3.1

.5

.83.01.3

1962

54.1

7.0

6.2.8

47.1

33.1

.632.6

5.3

5.521.7

12.82.84.81.3

14.0

5.25.8

.12.8

54.1

2.0.1

1.61.5

2.019.526.6

12.914.4- . 7

4.65.3

1.5

2.4

1.8

1.2- . 8- . 2

1963

57.7

4.0

4.1- . 1

53.7

35.7

35! 9

5.9

4.925.1

15.13.25.11.6

18.0

6.07.9

4.1

57.7

1.5.1

1.6

2.919.129.9

15.514.3

.1

5.85.8

.9

3.4

2.9

1.11.32.0

1964

66.9

6.4

5.41.0

60.5

37.9

1.636.3

5.7

4.526.1

15.64.53.82.1

22.6

8.38.5

5.1

66.9

2.8.4

.7

.4

3.421.831.0

16.015.6- . 5

5.56.1

.6

7.0

2.0

.94.0

- . 2

1965

70.4

1.7

1.3.4

68.7

39.1

.338.8

7.3

5.925.6

15.43.64.42.2

29.5

14.210.0

5.7

70.4

2.8*

2.22.3

3.828.330.1

13.717.9

- 1 . 4

6.98.3

- . 3

5.6

1.0

2.52.5.3

1966

68.5

3.5

2 31.2

64.9

39.9

.939.0

5.7

11.022.3

11.43.15.72.1

25.0

10.37.21.06.4

68.5

4.9.3

5.14.8

3.516.725.9

7.819.3

- 1 . 3

5.87.1

- 1 . 8

19.1

3.6

3.411.9- . 2

1967

82.6

13.0

8 94.1

69.6

48.0

2.445.7

7.7

15.922.0

11.63.64.72.1

21.6

9.64.62.15.2

82.6

4.6.5

- . 1- . 6

4.836.836.1

16.920.4

- 1 . 2

4.45.6

2.8

- 3 . 0*

1.2- 2 . 0

2.2

1968

97.4

13.4

10 33.0

84.1

50.5

- . 751.2

9.9

14 027.3

15.23.56.62.1

33.6

13.411.11.67.5

97.4

5.2- . 2

3.23.5

3.739.033.5

14.521.5

- 2 . 5

9.812.3

2.5

13.8

9.0

.75.51.4

See footnote at end of table.

238


TABLE C—52.—Total funds raised in credit markets by nonjinancial sectors, 1961—69—Continued


Nonfinancial sector

1969 unadjusted quarter-ly totals

1

17.0

.2

.1

.1

16.8

12.4

*12.3

2.53.86.0

3.4.9

1.3.5

4.4

.7- 1 . 2

1.73.2

17.0

1.2*

.9

.9

- . 5-7 .4

8.7

4.55.5

-1 .3

-2 .3-1 .0

- . 3

15.2

3.63.57.3

- . 8

II

23.0

-10.9

-11.6.8

33.9

15.4

.415.0

3.43.97.6

4.31.11.4.7

18.5

8.34.01.54.7

23.0

1.4- . 1

2.32.3

1.79.07.5

3.04.6

5.65.6

- . 1

3.5

3.42.2

-2 .2- . 1

III

20.8

3.4

4.6-1 .2

17.5

12.7

.212.4

1.63.67.2

4.41.01.4.5

4.8

- 1 . 51.61.43.3

20.8

1.7- . 2

2.52.7

-4 .57.6

1.76.2

- . 3

1.61.9

1.8

14.4

3.8- . 311.3

.3

1969 seasonally adjustedannual rates

1

96.3

- . 4

- . 4- . 1

96.7

56J. 1

. 256.0

11.516.328.2

16.33.75.92.2

40.6

15.19.95.79.8

96.3

5.1- . 2

4.85.0

.14.6

31.6

16.320.8

-5 .5

-6 .7-1 .2

- . 1

55.2

21,29.3

21.8-2 .8

II

88.8

-18.7

-22.53.8

107.5

55.9

1.754.2

11.514.728.0

16.24.35.12.4

51.6

17.910.45.2

18.1

88.8

5.9-1.1

6.57.6

2.315.335.8

16.221.0

-1 .4

17.118.5

.4

30.2

15.96.96.8

- . 6

III

100.9

15.1

19.2-4 .1

85.8

48.1

1.047.2

6.813.127.2

15.93.95.32.1

37.6

5.88.25.6

18.0

100.9

7.3- . 6

11.812.3

3.5- . 230.7

6.424.5- . 2

15.715.8

5.7

54.4

22.34.5

29.1

Total funds raised

U.S. Government

Public debt securities

Budget agency issues

All other sectors

Capital market instruments

Corporate equity sharesDebt capital instruments . .

State and local governmentsCorporate and foreign bondsMortgages

HomeOther residentialCommercialFarm

Other private credit

Bank loans n.e.c .Consumer creditOpen-market paperOther

Total funds supplied directly

U.S. GovernmentU.S. Government credit agencies, net


Federal Reserve System._.Commercial banks, netPrivate nonbank finance

Savings institutions, netInsuranceFinance, n.e.c, net

Funds advanced

Less funds raised

Foreign

Private domestic nonfinancial

BusinessState and local government, general fundsHouseholds -.Less net security credit

Source: Board of Governors of the Federal Reserve System

239


TABLE G-53.—Selected liquid assets held by the public, 1946-69 *

[Billions of dollars, seasonally adjusted]

End of year or month

1946194719481949 .

19501951195219531954

19551956195719581959

19601961196219631964

19651966»196719681969 v

968"JanFebMar-AprMayJune


1969:JanFebMarAprMayJune

JulyAug .SeptOctpNov*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

573.1601.5650.4709.6729.0

655 8658.6665.6664.6667.8670.8

676.5679.6684.9693.1699.4709.6

i 703.7705.7713.2710.0714.3713 8

2 709.5713.1718.0714.3720.6729.0

Demanddeposits

andcurrency2

108.5112.4110.5110.4

115.5120.9125.5127.3130.2

133.3134.6133.5138.8139.7

138.4142.6144.8149.6156.7

164.1168.6180.7

• 199.2206.2

179.6178.2181.7181.1183.9186.7

186.2185.9186.4188.0190.6

6199.2

188.8189.8192.4190.8191.5194.1

2 191.8193.2194.1193.6195.0206.2

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

147.1159.3183.1203.8195.9

186.5187.6187.9187.6187.7187.9

191.5194.0196.2200.4204.7203.8

203.4202.9201.9200.6202.7200.4

197.5195.7195.6195.4197.1195.9

Mutualsavingsbanks

16.917.818.419.3

20.120.922.624.426.3

28.130.031.633.934.9

36.238.341.444.549.0

52.655.260.364.767.1

60.661.161.461.762.162.6

62.863.063.463.864.364.7

64.865.265.565.766.166.3

66.366.466.666.767.067.1

Postalsavingssystem

3.33.43.33.2

2.92.72 52.42.1

1.91.61.31.1.9

.8

.6

.5

.4

.3

.1

Savingsandloan

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

109.8113.4123.9131.0134.7

123.6124.6125.8125.9126.4

127.2128.1129.5130.0130.8131.0

131.0132.0133.4133.3133.5133.6

133.6134.1135.3134.9135.3134.7

U.S.Govern-

mentsavingsbonds4

48.650.953.455.0

55.855.455 755 655.6

55 954.851.650.547.9

47.047 447.649.049.9

50.550.951.952 552.4

51.951.851.851.851.851.9

51.952.052.052.052.152.5

52.552.352.252.252.252.2

52.252.152.052.052.052.4

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

48.653.950.558.572.7

53.655.457.056.555.954.9

56.956.657.458.957058.5

7 63.463.467.767.568.367.3

68.171.674.671.774.272.7

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 C-50, except for deduction of demand deposits held by mutual savingsbanks and savings and loan associations. Data are for last Wednesday of month. Data prior to July 1969 have not been re-vised to conform to the money supply revision.

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 C-50). Data are for last Wednesday of month, except that June 30 and December 31 calldata are used where available.

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

» 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.

«Estimates for Tuesday, December 31, rather than last Wednesday of December.7 Beginning 1969, data have been adjusted to conform to the new budget concept.

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

240


TABLE C-54.—Federal Reserve Bank credit and member bank reserves, 1929—69

[Averages of daily figures, millions of dollars]

Year and month

1929: Dec

1930: Dec1931: Dec .1932: Dec1933: Dec1934: Dec1935: Dec. .1936: D e c . . .1937: Dec1938: Dec1939: Dec

1940: Dec1941: Dec1942: Dec1943: D e c . . .1944: D e c .1945: Dec1946: Dec1947: Dec.1948: D e c . . .1949: Dec

1950: Dec1951: Dec1952: Dec1953: Dec1954: Dec1955: Dec .1956: D e c . . .1957: Dec1958: Dec1959: Dec

1960: D e c .1961: Dec1962: Dec .1963: Dec1964: Dec1965: Dec1966: Dec1967: Dec .1968: Dec1969: Dec*

1968: JanFeb. .MarApr. .May .June

July. . . . . .AugSeptOct .NovDec

1969: JanFebMarApr. .MayJune

July. .Aug .SeptOctNovDec*

Reserve Bank credit outstanding

Total

1,643

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

2,3052,4046,035

11,91419,61224,74424,74622,85823,97819,012

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

29,06031,21733,21836,61039,87343,85346,86451,26856,61064, 083

51,28750,87351,86352,50952,99853,813

54,57355,04854,77855,77056,18956,610

56,47655,78655,47758,82159,99960,565

60,88760,87660,45961,51662,76764,083

U.S.Govern-ment se-curities

446

644777

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

2,1882,2195,549

11,16618,69323,70823,76721,90523,00218,287

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

27,24829,09830,54633,72937,12640,88543,75048,89152,52957, 500

49,04648,93049,51150,09050,58151,306

52,09052,64652,22253,30053,38852,529

52,66552,26552,12252,46353,39054, 028

54,29854,59953,84054,70856,49957, 500

Memberbank

borrow-ings

801

337763281951067

1673

354

90265334157224134118

142657

1,593441246839688710557906

87149304327243454557238765

1,087

237361671683746692

525565515427569765

697824918996

1,4021,407

1,1901,2491,0671,1351,2411,087

Allother,mainlyfloat

396

29241057

142325857474799

114180482658654702822729842607

1.119,380,306,0?7t 154,41?, 703,494, 543493

1,7251,9702,3682,5542,5042,5142,5472,1393,3165,496

2,0041,5821,6811,7361,6711,815

1,9581,8372,0412,0432,2323,316

3,1142,6972,4375,3625,2075,130

5,3995,0285,5525,6735,0275,496

Member bank reserves

Total

2,395

2,4152,0692,4352,5884,0375,7166,6656,8798,745

11,473

14,04912,81213,15212,74914,16816,02716,51717,26119,99016,291

17,39120,31021,18019,92019,27919,24019,53519,42018,899

2 18,932

19,28320,11820,04020,74621,60922,71923,83025,26027,22128,012

25,83425,61025,58025,54625, 50525,713

26,00126,06926,07726,65326,78527,221

28, 06327,29126,75427,07927,90327,317

26,98027,07926,97127,34027,76428,012

Re-quired

2,347

2,3422,0101,909

i l , 8 2 22,2902,7334,6195,8085,5206,462

7,4039,422

10,77611,70112,88414,53615,61716,27519,19315,488

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

18,52719,55019,46820,21021,19822,26723,43824,91526,76627,774

25,45325,21125,22425,27625,08525,362

25,70225,69425,69426,39326,46126, 766

27, 84627,06326, 53726,92727,60326,974

26, 86426,77626, 73527,19727,51127,774

Excess

48

7360

5261766

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

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

900986797803

1,027826723693703594652577516482

756568572536411452392345455238

381399356270420351

299375383260324455

217228217152300343

116303236143253238

Memberbank freereserves(excessreservesless bor-rowings)

- 7 5 3

- 2 6 4- 7 0 3

245671

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

6,6433,3852,372

9581,0191,157

743762663685

885169

- 8 7 0252457

- 2 4 5-36

- 1 3 3-41

- 4 2 4

669419268209168- 2

- 1 6 5107

- 3 1 0- 8 4 9

14438

- 3 1 5- 4 1 3- 3 2 6- 3 4 1

- 2 2 6- 1 9 0- 1 3 2- 1 6 7- 2 4 5- 3 1 0

- 4 8 0- 5 9 6- 7 0 1—844

—1,102—1,064

—1,074- 9 4 6- 8 3 1- 9 9 2- 9 8 8- 8 4 9

1 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.

241


TABLE G-55.—Bond yields and interest rates, 1929-69

[Percent per annum]

Year or month

1929

1930.193119321 9 3 3 . . .1934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

I 9 6 0 . . . . ,1961196219631964

19651966196719681969 . .-

1967: Jan..FebMarAprMayJune


U.S

3-monthTreas-

urybills i

(6)

(6)1.402

879.515.256

.137

.143447

.053

.023

014.103.326.373.375

.375

.375

.5941.0401.102

1.2181 5521.7661.931.953

1.7532.6583.2671.8393.405

2.9282.3782.7783.1573.549

3.9544.8814.3215.3396.677

4.7594.5544.2883.8523.6403.480

4.3084.2754.4514.5884.7625.012

Government securities

9-12monthissues2

0.75.79

.81

.82

.881.141.14

1.261 731.812.07

.92

1.892.833.532.094.11

3.552.913.023.283.76

4.095.174.845.627.06

4.714.644.354.034.094.40

4.985.105.215.325.555.69

3-5year

issues3

2 662.12

1 291.111 40

83.59

5073

1.461.341.33

1.181.161.321.621.43

1.501 932.132.561.82

2.503.123.622.904.33

3.993.603.573.724.06

4.225.165.075.596.85

4.714.734.524.464.684.96

5.175.285.405.525.735.72

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

4.214.654.855.266.12

4.40

I

1

i

I

I

1.471 451.511.761.86

1.861.951.995 195.445.36

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

4.495.135.516.187.03

5.205.035.135.115.245.44

5.585.625.655.826.076.19

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

4.875.676.236.947.81

5.975.825.855.835.966.15

6.266.336.406.526.726.93

High-grade

munic-ipal

bonds(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

3.273.823.964.515.81

3.583.563.603.663.923.99

4.054.034.154.314.364.49

Averagerate onshort-termbankloans

to busi-n e s s -

selectedcities

(7)

( 7 )(7)v>( 7 )

2.1

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

i° 6.006.688.21

io 6.13

5.95

5.95

5.96

Primecom-mer-cial

paper,4-6

months

5.85

3.592 642.731.731.02

.75

.75

.94

.81

.59

.5653

.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

4.385.555.105.907.83

5.735.385.244.834.674.65

4.925.005.005.075.285.56

Fed-eral

ReserveBankdis-

countfate

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

4.044.504.195.175.87

4.504.504.504.104.004.00

4.004.004.-004.004.184.50

FHAnew

homemort-gage

yields s

4.34

4.174.214.294.614.62

4.644.795.425.495.71

6.185.805.615.475.45

5.466.296.557.138.19

6.776.626.466.356.296.44

6.516.536.606.636.656.77


242


TABLE G-55 .—Bondyields and interest rates, 1929-69— Continued

[Percent per annum]

Year or month


JulyAug _SeptOctNovDec



U.S. Government securities

3-monthTreas-

urybills i

5.0814.9695.1445.3655.6215.544

5.3825.0955.2025.3345.4925.916

6.1776.1566.0806.1506.0776.493

7.0047.0077.1297.0407.1937.720

9-12monthissues2

5.395.375.555.636.066.01

5.685.415.405.445.566.00

6.266.216.226.116.267.07

7.597.517.767.637.948.34

3-5year

issues 3

5.535.595.775.695.955.71

5.445.325.305.425.475.99

6.046.166.336.156.336.64

7.027.087.587.477.577.98

Taxablebonds4

5.185.165.395.285.405.23

5.095.045.095.245.365.66

5.745.866.055.845.856.05

6.076.026.326.276.526.81

Corporatebonds

(Moody's)

Aaa

6.176.106.116.216.276.28

6.246.025.976.096.196.45

6.596.666.856.896.796.98

7.086.977.147.337.357.72

Baa

6.846.806.856.977.037.07

6.986.826.796.847.017.23

7.327.307.517.547.527.70

7.847.868.058.228.258.65

High-grademunic-

ipalbonds

(Stand-ard &Poor's)

4.344.394.564.414.564.56

4.364.314.474.564.684.91

4.955.105.345.295.475.83

5.846.076.356.216.376.91

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

6.36

6.84

6.89

6.61

7.32

7.86

8.82

8.83

Primecom-mer-cial

paper,

months

5.605.505.645.816.186.25

6.195.885.825.805.926.17

6.536.626.827.047.358.23

8.658.338.488.578.468.84

Fed-eral

ReserveBankdis-

countrate

4.504.504.665.205.505.50

5.505.485.255.255.255.36

5.505.505.505.956.006.00

6.006.006.006.006.006.00

FHAnew

homemort-gage

yields s

6.816.816.786.836.94

7.527.427.357.287.297.36

7.50

7.998.058.068.06

8.358.368.368.408.488.48

* 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).8 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 permissible interest rate (JlA percent beginning late January 1969).

Thru July 1961, computed on 25-year mortgages paid in 12 years and thereafter, 30-year mortgages prepaid in 15 years.0 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.' Not available on same basis as for 1939 and subsequent years.> From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances secured by

Government securities maturing 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, andin 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.

243


TABLE C-56.—Short- and intermediate-term consumer credit outstanding, 1929-69[Millions of dollars]

Adden-dum:Policy

...... .._r_.. loans byEnd of year or month Total _ Auto- con- and Per- _ Charge life in-

surancecom-

panies 3

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969 41968: Jan..

Feb.Mar.Apr,May.June.July.Aug.Sept.Oct..Nov.Dec-

1969:Jan..Feb..Mar.Apr -May.June-July.Aug.Sept.Oct_.Nov.Dec*.

Total

7,116

6,3515,3154,0263,8854,2185,1906,3756,9486,3707,2228,3389,17?5,9834,9015,1115,6658,384

11,59814,44717,36421,47122,71227,52031,39332,46438,83042,33444,97145,12951, 54456,14157,98263,82171,73980,26890,31497,543

102,132113,191122,200101,260100,771100.981102,257103,411104,620105,680107,090107,636108,643110,035113,191112,117111,569111,950113,231114,750115,995116,597117,380118,008118,515119,378122,200

Instalment credit

Total

3,524

3,0222,4631,6721,7231,9992,8173,7474,1183,6864,5035,5146,0853,1662,1362,1762,4624,1726,6958,996

11,59014,70315,29419,40323,00523,56828,90631,72033,86833,64239,24742,96843,89148,72055,48662,69271,32477,53980,92689,89098,10080,37980,23380,47481,32882,31283,43384,44885,68486,18487,05887,95389,89089,49289,38089,67290,66391,81393,08793,83394,73295,35695,85096,47898,100

Auto-mobilepaper

1,384

986684356493614992

1,3721,4941,0991,4972,0712,458

742355397455981

1,9243,0184,5556,0745,9727,7339,8359,809

13,46014,42015,34014,15216,42017,65817,13519,38122,25424,93428,61930,55630,72434,13036,80030,57930,68230,94231,33131,81832,36432,87433,32533,33633,69833,92534,13034,01334,05334,26234,73335,23035,80436,08136,24536,32136,59936,65036,800

Othercon-

sumergoodspaper

1,544

1,4321,214

834799889

1,0001,2901,5051,4421,6201,8271,9291,195

819791816

1,2902,1432,9013,7064,7994,8806,1746,7796,7517,6418,6068,8449,028

10,63111,54511,86212,62714,17716,33318,56520,97822,39524,89927,30022,11721,76721,64421,84122,01122,24822,45222,77722,98823,24823,66824,89924,68224,40424,30624,39924,63624,95625,17225,46725,73225,85526,22327,300

Repairand

modern-izationloans i

27

2522181537

253364219218298371376255130119182405718853898

1,0161,0851,3851,6101,6161,6931,9052,1012,3462,8093,1483,2213,2983,4373,5773,7283,8183,7893,9254,0003,7343,7083,6883,6973,7463,7693,8083,8573,8813,9103,9313,9253,8863,8753,8743,9033,9644,0224,0394,0634,0964,0844,0764,000

Per-sonalloans

569

579543464416459572721900927

1,0881,2451,322

974832869

1,0091,4961,9102,2242,4312,8143,3574,1114,7815,3926,1126,7897,5828,1169,386

10,61711,67313,41415,61817,84820,41222,18724,01826,93630,00023,94924,07624,20024,45924,73725,05225,31425,72525,97926,20226,42926,93626,91127,04827,23027,62827,98328,30528,54128,95729,20729,31229,52930,000

Noninstalment credit

Total

3,592

3,3292,8522,3542,1622,2192,3732,6282,8302,6842,7192,8243,0872,8172,7652,9353,2034,2124,9035,4515,7746,7687,4188,1178,3888,8969,924

10,61411,10311,48712,29713,17314,09115,10116,25317,57618,99020,00421,20623,30124,10020,88120,53820,50720,92921,09921,18721,23221,40621,45221,58522,08223,30122,62522,18922,27822,56822,93722,90822,76422,64822,65222,66522,90024,100

Chargeac-

counts

1,996

1,8331,6351,3741,2861,3061,3541,4281,5041,4031,4141,4711,6451,4441,4401,5171,6122,0762,3812,7222,8543,3673,7004,1304,2744,4854,7954,9955,1465,0605,1045,3295,3245,6845,9036,1956,4306,6866,9687,7558,1006,4245,8595,7106,0266,2766,3686,4576,5746,5506,6926,9647,7557,0976,4036,3406,5576,9717,0027,0396,9887,0057,0857,2388,100

Other 2

1,596

1,4961,217

980876913

1,0191,2001,3261,2811,3051,3531,4421,3731,3251,4181,5912,1362,5222,7292,9203,4013,7183,9874,1144,4115,1295,6195,9576,4277,1937,8448,7679,417

10,35011,38112,56013,31814,23815,54616,00014,45714,67914,79714,90314,82314,81914,77514,83214,90214,89315,11815,54615,52815,78615,93816,01115,96615,90615,72515,66015,64715,58015,66216,000

2,379

2,8073,3693,8063,7693,6583,5403,4113,3993,3893,248

3,0912,9192,6832,3732,1341,9621,8941,9372,0572,240

2,4132,5902,7132,9143,1273,2903,5193,8694,1884,618

5,2315,7336,2346,6557,1407,6789,117

10,05911,219

10,14010,22410,33610,44510,56910,69710,82410,94211,04211,13411,19711,28411,39911,52511,69911,90312,09012,32312,65212,92113,17213,40613,580

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).

244


TABLE C-57.—Instalment credit extended and repaid, 1946-69


Year or month

1946.194719481949

19501951195219531954

19551956195719581959

I9601961196219631964

19651966196719681969

1968: Jan..Feb..Mar..Apr...May..June-July..Aug-Sept..Oct...Nov-Dec.

1969: Jan...Feb...Mar...Apr...May...June..

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

Total

Ex-tended

8,49512,71315,58518,108

21,55823,57629,51431,55831,051

38,97239,86642,01940,11048,048

49,79349,04856,19163,59170,670

78,58682,33584,69397, 053102,800

Re-paid

6,78510,19013,28415,514

18,44522,98525,40527,95630,488

33,63437,05639,87040,33942,603

46,07348,12451,36056.82563,470

69,95776,12081,30688, 08994,600

Automobilepaper

Ex-tended

1,9693,6925,2176,967

8,5308,95611,76412,98111,807

16,73415,51516,46514,22617,779

17,65716,02919,69422,12624,046

27,22727,34126,66731,42432, 500

Re-paid

1,4432,7494,1235,430

7,0119,05810,00310,87911,833

13,08214,55515,54515,41515,579

16,41916,55217,44719,25421,369

23,54325,40426,49928, 01829,900

Other consumergoods paper

Ex-tended

3,0774,4985,3835,865

7,1507,4859,1869,2279,117

10,64211,72111,81011,73813,981

14,52514,55115,70117,92020,821

22,75025,59126,95230, 59332,800

Re-paid

2,6033,6454,6255,060

6,0577,4047,8928,6229,145

9,75210,75811,57411,55712,402

13,61314,23514,93516,36918,666

20,51823,17825,53528, 08930,400

Repair and mod-ernization loans

Ex-tended

423704714734

835841

1,2171,3441,261

1,3931,5821,6741,8712,222

2,2152,092 ,2,084 i2,1862,225

2,2662,2002,1132,2682,300

Re-paid

200391579689

717772917

1,1191,255

1,3161,3701,4771,6261,765

1,8762,0152,0102,0462,086

2,1162,1102,1422,1322,200

Personalloans

Ex-tended

3,0263,8194,2714,542

5,0436,2947,3478,0068,866

10,20311,05112,06912,27514,070

15,39616,37718,71021,35923,578

26,34327,20328,96132,76835,200

Seasonally adjusted

Re-paid

2,5393,4053,9574,335

4,6605,7516,5937,3368,255

9,48410,37311,27611,74112,857

14,16515,31916,96919,15621,349

23,78025,42827,13029,85032,100

7,4537,8477,9037,8638,0338,003

8,2478,1878,4168,5338,2888,277

8,3718,4148,3818,7208,6808,705

8,5218,6808,6698,6618,6328,650

7,0547,1117,2817,2227,3017,287

7,3907,2537,7017,5867,4547,502

7,7307,6167,7357,9607,8347,910

7,8998,0807,9717,9928,0128,050

2,3852,5592,6052,5092,5902,570

2,6732,6842,7832,7822,6812,592

2,6612,7162,7302,7722,7572,725

2,5822,6342,7942,8082,6832,650

2,2542,2752,3162,2972,3272,289

2,3522,3272,4822,3912,3632,357

2,4672,4682,5012,5192,4882,460

2,4712,5622,4982,4632,5032,500

2,3392,4582,5312,5972,5352,536

2,6222,4832,5602,6452,6402,656

2,6542,5982,6252,7632,7672,869

2,7772,8192,7402,7072,8412,800

2,2232,2692,3722,3402,3122,324

2,3742,2092,4282,4512,3882,422

2,4422,3522,4612,5692,5072,602

2,5112,5742,6002,6152,6232,600

169184183189197179

195185196202191192

179201198219209218

185177180175164200

182173185176184175

181170179177175175

173172180185183183

191185156189179200

2,5602,6462,5842,5682,7112,718

2,7572,8352,8772,9042,7762,837

2,8772,8992,8282,9662,9472,893

2,9773,0502,9552,9712,9443,000

2,3952,3942,4082,4092,4782,499

2,4832,5472,6122,5672,5282,548

2,6482,6242,5932,6872,6562,665

2,7262,7592,7172,7252,7072,750

* Preliminary; December by Council of Economic Advisers.Source: Board of Governors of the Federal Reserve System (except as noted).

245


TABLE G-58.—Mortgage debt outstanding, by type of property and of financing, 1939-69


End of yearor quarter

1939.

19401941194219431944

1945 . .1946194719481949

19501951195219531954

19551956195719581959

196019611962 . .19631964

196519661967 v1968 v1969 P

1966: 1IIIII—.IV

1967: \v—.II *>111 p . .IV P__.

1968: 1 r .—\\v...Ill p . .IV P...

1969: 1 p . . . .II p . . .Ill p . .IV 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

206.8226.2248.6274.3300.1

325.8347.4370.2397.5424.7

331.9338.7343.6347.4

350.5356.2363.3370.2

375.8382.9389.8397.5

403.7411.7418.5424.7

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

21.223.325.527.529.6

21.822.523.023.3

23.724.324.925.5

26.026.727.227.5

28.128.829.329.6

r

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

194.0212.3233.4257.4281.2

304.6324.1344.8370.0395.0

310.2316.2320.6324.1

326.8331.9338.3344.8

349.8356.1362.6370.0

375.7382.9389.2395.0

Yonfarm properties

1- to 4-familyhouses

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

141.3153.0166.5182.2197.6

212.9223.6236.1251.2266.8

216.2219.6221.9223.6

224.9227.8232.0236.1

239.1243.2247.0251.2

254.8259.5263.4266.8

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

20.322.925.829.033.6

37.240.343.947.351.7

38.239.139.740.3

41.041.942.843.9

44.645.346.247.3

48.349.450.651.7

Com-mer-cial

prop-erties i

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

32.436.441.146.250.0

54.560.164.871.476.5

55.857.559.060.1

60.962.263.564.8

66.167.669.371.4

72.674.075.276.5

Nonfarm properties by type of mortgage

FHA-VA underwritten

Total

1.8

2.33.03.74.14.2

4.36.39.8

13.618.1

22.126.629.332.136.2

42.947.851.655.259.2

62.365.569.473.477.2

81.284.188.293.4

82.182.783.484.1

84.585.386.488.2

89.490.792.093.4

94.596.698.5

1- to 4

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

73.176.179.984.4

74.174.775.476.1

76.477.278.379.9

81.082.183.284.4

85.387.188.9

-family houses

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

42.044.847.450.6

43.043.744.444.8

45.245.746.647.4

48.148.749.650.6

51.452.253.4

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

31.131.332.533.8

31.131.031.031.3

31.231.531.732.5

32.933.433.633.8

33.934.935.5

Conventional2

Total

27.1

27.728.227.125.825.5

26.530.634.137.339.0

44.649.054.961.569.2

78.086.894.5

105.5119.4

131.7146.9164.0184.0204.0

223.4240.0256.6276.6

228.1233.5237.2240.0

242.3246.6251.9256.6

260.4265.4270.6276.6

281.2286.3290.7

1- to 4-familyhouses

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

139.8147.5156.1166.8

142.1145.0146.5147.5

148.4150.6153.7156.1

158.1161.1163.8166.8

169.6172.3174.6

i Includes negligible amount of farm loans held by savings and loan associations.> Derived figures.

Source: Board of Governors of the Federal Reserve System, estimated and compiled from data supplied by variousGovernment and private organizations.

246


TABLE C-59.—Mortgage debt outstanding, by lender, 1939-69


End of year or quarter

1939

19401941194219431944

194519461947 . . . .19481949 - . . .

19501951195219531954

1955 . . .1956195719581959

19601961 - .196219631964 . .

196519661967 P1968 P1969 P

1966: 1IIIIIIV

1967* 1 pII pIN pIV p

1968: 1 p _II pIII pIV p

1 9 6 9 : 1 pII vIII vIV p

Total

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

206.8226.2248.6274.3300.1

325.8347.4370.2397.5424.7

331.9338.7343.6347.4

350.5356.2363.3370.2

375.8382 9389.8397.5

403.7411.7418.5424.7

Total

18.6

19.520.720.720.220.2

21.026.031.837.842.9

51.759.566.975.185.7

99.3111.2119.7131.5145.5

157.6172.6192.5217.1241.0

264.6280.8298.8319.9339.1

269.6274.7278.2280.8

282.9287.6293.3298.8

302.6308.1313.5319.9

324.7331.0335.5339.1

Selected financial institutions

Savingsandloan

associa-tions

3.8

4.14.64.64.64.8

5.47.18.9

10.311.6

13.715.618.422.026.1

31.435.740.045.653.1

60 168.878.890.9

101.3

110.3114.4121 8130.8140.2

112.3114.0114.4114.4

114.8116.9119.5121.8

123.3125.9128.3130.8

133.0136.2138.6140.2

Mutualsavingsbanks

4.8

i

i

t

i

1.9I 81 61.41.3

1.2I 44.95.86.7

8.39.9

11.412.915.0

17.519.721.223.325.0

26.929.132.336.240.6

44.647.350.553.555.8

45.445.946.647.3

48.148.949.750.5

51.251.852.553.5

54.254.855.455.8

Com-mercialbanks *

4.3

4.64.94.74.54.4

4.87.29.4

10.911.6

13.714.715.916.918.6

21.022.723.325.528.1

28.830.434.539.444.0

49.754.459.065.770.9

50.752.353.654.4

54.555.757.559.0

60.162.063.865.7

67.169.170.270.9

Lifeinsurance

com-panies

5.7

6.06.46.76.76.7

6.67.28.7

10.812.9

16.119.321.323.326.0

29.433.035.237.139.2

41.844.246.950.555.2

60.064.667 570.072.1

61.262.563 664.6

65.566.166.667.5

68.068 468.970.0

70.470.971 372.1

Other lenders

U.S.agencies2

5.0

4.94.74.33.63.0

2.42.01.81.92.4

2.73.44.04.44.6

5.26.07.47.8

10.0

11.211.812.211.211.4

12.415.818 421.726.8

13.514.415.215.8

16.416.717.518.4

19.620.621.121.7

22.623.424 926.8

Indi-viduals

andothers

11.9

12.012.211.711.511.5

12.113.815.316.517.4

18.419.420.521.823.4

25.427.329.332.535.4

38 041.844.045.947.7

48.750.953.055.858.8

48.849.650.250.9

51.351 952.553.0

53.554 255.155.8

56 457.258 158.8

1 Includes loans held by nondeposit trust companies, but not bank trust departments.2 Includes former FNMA and new GNMA, as well as FHA, VA, PHA, Farmers' Home Administration and in earlier years

RFC, HOLC, and FFMC. Also includes U.S.-sponsored agencies such as new FNMA and Federal Land Banks. Other U.S.agencies (amounts small or current separate data not readily available) included with "individuals and others."

Sources: Board of Governors of the Federal Reserve System, based on data from various Government and private or-ganizations.

247


TABLE C-60.—Net public and private debt, 1929-68*

(Billions of dollars]

End of year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

1955.19561957 . . . - •19581959

19601961196219631964

1965196619671968

Total

191.9

192.3182.9175.0168.5171 6

175.0180.6182.2179.9183.3

189.8211.4258 6313.2370.6

405.9396.6415.7431.3445.8

486.2519.2550.2581.6605.9

664.9698.3728.3769.1831.4

872.4929.8997.1

1,071.71,153.7

1,245.61,340.81,436.41,568.5

Public

Fed-eral 2

16.5

16.518.521.324.330.4

34.437.739.240.542.6

44.856.3

101.7154.4211.9

252.5229.5221.7215.3217.6

217.4216.9221.5226.8229.1

229.6224.3223.0231.0241.4

239.8246.7253.6257.5264.0

266.4271.8286.4291.9

Fed-eral

finan-cial

agen-cies 3

0.7.6.7

.71.31.31.41.3

2.92.42.42.53.7

3.54.05.37.27.5

8.911.29.0

21.5

Stateandlocal

13.6

14.716.016.616.315.9

16.116.216.116.116.4

16.416.115.414.513.9

13.413.715.017.019.1

21.724.227.030.735.5

40.244.448.653.258.0

63.070.078.184.792.4

99.9107.1117.9128.6

Total

161.8

161.1148.4137.1127.9125.3

124.5126.7126.9123.3124.3

128.6139.0141.5144.3144.8

140.0153.4178.3198.4208.4

246.4276.8300.4322.7340.0

392.2427.2454.3482.4528.3

566.1609.1660.1722.3789.7

870.4950.6

1,023.11,126.6

Cor-porate

88.9

89.383.580.076.975.5

74.876.175.873.373.5

75.683.491.695.594.1

85.393.5

108.9117.8118.0

142.1162.5171.0179.5182.8

212.1231.7246.7259.5283.3

302.8324.3348.2376.4409.6

454.3502.7541.7604.5

Total

72.9

71.864.957.151.049.8

49.750.651.150.050.8

53.055.649.948.850.7

54.759.969.480.690.4

104.3114.3129.4143.2157.2

180.1195.5207.6222.9245.0

263.3284.8311.9345.8380.1

416.1447.9481.4522.2

Private

Individual and noncorporate

Farm*

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

12.313.715.216.817.5

18.719.420.223.223.8

25.127.530.233.236.0

39.342.448.350.2

Total

60.7

60.053.847.041.940.9

40.842.042.541.042.0

43.946.340.940.542.9

47.452.360.769.778.4

92.0100.6114.2126.4139.7

161.4176.1187.4199.7221.2

238.2257.3281.7312.6344.1

376.8405.5433.2472.0

Nonfarm

Mort-gage

31.2

32.030.929.026.325.5

24.824.424.324.525.0

26.127.126.826.126.0

27.031.837.242.447.1

54.861.768.976.786.4

98.7109.4118.1128.1141.0

151.3164.5180.3198.6218.9

236.8252.8266.9285.5

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

30.834.837.642.345.0

49.755.264.273.2

Con-sumer

7.1

6.45.34.03.94.2

5.26.46.96.47.2

8.39.26.04.95.1

5.78.4

11.614.417.4

21.522.727.531.432.5

38.842.345.045.151.5

56.158.063.871.780.3

90.397.5

102.1113.2

i Net public and private debt is a comprehensive aggregate of the indebtedness of borrowers after eliminating certaintypes of duplicating governmental and corporate debt.

> Net Federal Government and agency debt is the outstanding debt held by the public, as defined in the "Budget of theUnited States Government, for the Fiscal Year ending June 30,1971." Figures shown here are subject to revision.

3 This comprises the debt of federally sponsored agencies, in which there is no longer any Federal proprietary interest.The obligations of the Federal Land Banks are included here beginning in 1947; the debt of the Federal Home Loan Banksis included beginning in 1951; and the debts of the Federal National Mortgage Association—Secondary Market Operations,Federal Intermediate Credit Banks, and Banks for Cooperatives are included beginning with 1968.

* Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the nonfarm categories.* Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers, and debt owed

to life insurance companies by policyholders.Sources- Department of Commerce (Office of Business Economics), Treasury Department, Department of Agriculture,

Board of Governors of the Federal Reserve System, Federal Home Loan Bank Board, Federal Land Banks, and FederalNational Mortgage Association.

248


GOVERNMENT FINANCETABLE C-61.—Federal budget receipts and outlays, 1929-71


Fiscal year

Administrative budget:1929 .1930

1931.. . . . .193219331934...1935

193619371938 .1939

Consolidated cash statement:1940

1941.. . .1942..194319441945

19461947194819491950

1951.. . .19521953

Unified budget:19541955 . . . . . . .

19561957 . .19581959.I960

1961.1962196319641965

19661967....19681969 . .19701

1971 i

Receipts

3,8614,058

3,1161,9241,9973,0153,706

3,9974,9565,5884,979

6,879

9,20215,10425,09747,81850,162

43,53743,53145,35741,57640,940

53,39068,01171,495

69,71965,469

74, 54779,99079,63679,24992,492

94,38999,676

106, 560112,662116,833

130,856149, 552153,671187,792199,386

202,103

Outlays

3,1273,320

3,5774,6594,5986,6456,497

8,4227,7336,7658,841

9,589

13,98034,50078,90993,95695,184

61,73836,93136,49340,57043,147

45,79767,96276,769

70,89068, 509

70,46076,74182,57592,10492,223

97,795106,813111,311118,584118,430

134,652158,254178 833184,556197,885

200,771

Surplus ordeficit ( - )

734738

-462-2 ,735-2 ,602-3 ,630-2 ,791

-4 ,425-2,777-1,177-3 ,862

-2 ,710

-4 ,778-19,396-53,812-46,138-45,022

-18,2016,6008,8641,006

-2,207

7,59349

-5 ,274

-1 ,170-3,041

4,0873,249

-2 ,939-12,855

269

-3 ,406-7,137-4,751-5 ,922-1,596

-3,796-8,702

- 2 5 1613,2361,501

1,331

i Estimate.

Note.—Certain interfund transactions are excluded from receipts and outlays starting in 1932. For years prior to 1932 theamounts of such transactions are not significant

Refunds of receipts are excluded from receipts and outlays starting in 1913; comparable data are not available for prioryears.

Source: Bureau of the Budget.

249


T A B L E G-62.—Federal budget receipts, outlays, financing, and debt, 1960-71

[Millions of dollars; fiscal years]

DescriptionActual

1960 1961 1962 1963 1964 1965

RECEIPTS, EXPENDITURES, AND NET LEND-ING:

Expenditure account:ReceiptsExpenditures (excludes net lending)...

Expenditure account surplus ordeficit ( - )

Loan account:Loan disbursements.Loan repayments

Net lending.

Total budget:ReceiptsOutlays (expenditures and net lending).

Budget surplus or deficit (—)

BUDGET FINANCING:Net borrowing from the public or repay-

ment of borrowing ( - )Other means of financing

Total means of financing.

OUTSTANDING DEBT, END OF YEAR:Gross Federal debt

Held by the public

92,49290,341

2,151

8,3106,427

1,882

92,49292,223

269

2,174-2,443

-269

290,862237,177

94,38996,597

-2,208

7,8696,671

1,198

94,38997,795

-3,406

1,4271,979

3,406

292,895238,604

99,676104,462

-4,786

9,6217,271

2,351

99,676106,813

-7,137

9,769-2,632

7,137

303,291248,373

106,560111,456

-4,896

9,6469,791

-145

106,560111,311

-4,751

6,088-1,337

4,751

310,807254,461

112,662118,039

-5,377

10,2379,693

545

112,662118,584

-5,922

3,0922,830

5,922

316,763257,553

116,833117,181

-347

10,9119,662

1,249

116,833118,430

-1,596

4,061-2,465

1,596

323,154261,614

BUDGET RECEIPTS.Individual income taxesCorporation income taxesEmployment taxes and contributionsUnem ployment insurance 2_. _Contributions for other insurance and

retirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts3

MEMORANDUM:Federal funds..Trust funds. . .

BUDGET OUTLAYS (EXPENDITURES ANDNET LENDING)

National defenseInternational affairs and financeSpace research and technologyAgriculture and rural developmentNatural resourcesCommerce and transportationCommunity development and housingEducation and manpowerHealthI ncome securityVeterans benefits and servicesInterestGeneral governmentAllowancesUndistributed intragovernmental trans-

actions

92,49240,74121,49411,2482,667

76811,6761,6061,1051,187

75,65019,228

92,22345,9083,054401

3,3221,0194,774971

1,286756

17,9775,4268,2991,327

94,38941,33820,95412,6792,902

85711,8601,896982919

75,17921,800

97,79547,3813,357744

3,3401,5685,048191

1,499873

20,9565,6888,1081,491

99,67645,57120,52312,8353,337

87512, 5342,0161,142843

79,70322,652

106,81351,0974,4921,2574,1231,6865,408589

1,7321,139

22,2055,6258,3211,650

106,56047,58821,57914,7464,112

94613,1942,1671,2051,023

83,55025,799

111,31152,2574,1152,5525,1391,5055,743-8801,7321,393

23,8545,5209,2151,810

112,66248,69723,49316,9594,045

1,00813,7312,3941,2521,084

87,20528,518

118,58453, 5914,1174,1705,1851,9726,482-1852,0281,737

24,8335,6819,8102,040

MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.

-2,297

74,86519,743

-2,385

-2,449

79,33621,048

-2,589

-2,513

86,59422,898

-2,680

-2,644

90,14123,958

-2,788

-2,877

95,76125,884

- 3 , 061

116,83348,79225,46117,3593,819

1,08114,5702,7161,4421,594

90,94329,230

118,43049,5784,3405,0914,8072,0637,364

2882,5331,730

25,4535,722

10,3572,210

-3,109

94,80726,962

-3,339


250


TABLE G-62.—Federal budget receipts, outlays, financing, and debt, 1960-71—Continued[Millions of dollars; fiscal years]

DescriptionActual

1966 1967 1968 1969

Estimate

1970

RECEIPTS, EXPENDITURES, AND NET LEND-ING:

Expenditure account:Receipts,Expenditures (excluding net lending). _

Expenditure account surplus ordeficit (-)___..__-_

130,856130,820

Loan account:Loan disbursements.Loan repayments

Net lending.

Total budget:Receipts.. -_-_.__.Outlays (expenditures and net lending).

Budget surplus or deficit ( - ) — - . - .

BUDGET FINANCING:Net borrowing from the public or repay-

ment of borrowing (—)._Other means of financing —.'___

Total means of financing.

OUTSTANDING DEBT END OF YEAR:Gross Federal debt .Held by the public -

36

14,62810,796

3,832

130,856134,652

—3,796

3, 076720

3,796

329,474264,690

149,552153,201

-3,649

17,67612,623

5,053

149,552158,254

-8,702

2,8385, 863

8,702

341,348267, 529

153,671172,802

-19,131

20,32714,297

6,030

153,671178,833

-25,161

23,1002,061

25,161

369,769290,629

187,792183,080

4,712

13,11711,640

1,476

187,792184, 556

3,236

-1,044-2,192

1-3,236

367,144279,483

199,386194,985

4,401

9,4896,589

2,900

199,386197,885

1, 501

-2,5831,082

1-1,501

374,734278,483

BUDGET RECEIPTS.

Individual income taxesCorporation income taxes.Employment taxes and contributionsUnemployment insurance 2 .Contributions for other insurance and re-

tirementExcise taxes...Estate and gift taxesCustoms duties —Miscellaneous receipts 3.

MEMORANDUM:Federal funds-Trust funds. __

BUDGET OUTLAYS (EXPENDITURES AND NETLENDING)

National defenseInternational affairs and financeSpace research and technologyAgriculture and rural development....Natural resources. .Commerce and transportationCommunity development and housing.Education and manpower ..Health. . . . . .Income securityVeterans benefits and servicesInterestGeneral government .AllowancesUndistributed intragovernmental trans-

actions _ _

130,856

55,44630,07320,6623,777

1,12913,0623,0661,7671,875

101,42732,997

134,652

56,7854,4905,9333,6792,0357,135^2,6444,5232,54328,7515,92011,2852,292

149,552

61, 52633,97127,8233,659

1,86713,7192,9781,9012,108

111,83542,935

158,254

153,671

68,72628,66529,2243,346

2,05214,0793,0512,0382,491

114,72644,716

178,833

70,0814,5475,4234,3761,8607,5542,6166,1356,721

30,8816,897

12,5882,510

80,5174,6194,7215,9431,7028,0474,0767,0129,672

33,8356,882

13,7442,561

187,792

87,24936,67834,2363,328

2,35315,2223,4912,3192,916

143,32952,009

184,556

81,2403,7854,2476,2212,1297,8731,9616,825

11,69637,3997,640

15,7912,866

MEMORANDUM:Federal funds. . . .Trust funds.._ ._Intragovernmental transactions.

-3,364

106,51231,708-3,568

-3,936

126,77936,693-5,218

-4,499

143,10541,499-5,771

-5,117

148,81943,284-7,547

199,386

92,20037,00038,9143,340

2,55115,9403,5002,2603,681

149,57958,141

197,885

79,4324,1133,8866,3432,4859,4363,0467,53813,26543,8328,68117,8213,620475

-6,088

156,70349,517-8,335

1 Excludes changes due to reclassification and to conversion of mixed-ownership enterprises to private ownership. (Seefootnote to Table 9 of the 1971 Budget Document.)

2 Includes Federal funds of $339 million in 1960.3 Includes both Federal funds and trust funds.

Source: Bureau of the Budget

251Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE C-63.—Relation of the Federal Budget to the Federal sector of the national income andproduct accounts, 1968-71

[Billions of dollars; fiscal years]

Receipts and expendituresActual

1968 1969

Estimate

1970 1971

RECEIPTS

Total receipts, budget-

Government contribution for employee retire-ment (grossing) _ .

Other netting and grossing ...Adjustment to accruals .Other

Federal sector, national income and product accounts,receipts —

EXPENDITURES

Total outlays, budget. __

Loan account. __..Financial transactions in the expenditure account-Government contribution for employee retirement

(grossing) . : .Other netting and grossing.. _.._Defense timing adjustment..Dollar expenditures to finance agricultural exports.O t h e r . . . . . .

Federal sector, national income and product accounts,expenditures

153.7

1.91.14,3

- . 1

160.9

178.8

-6 .0-1 .6

1.91.1

-2 .1

172.4

187.8

2.11.31.7

- . 2

192.7

184.6

-1 .5- 1 . 0

2.11.3.7

q'.9

186.7

199.4

2.41.4

- . 9- . 4

201.8

197.9

-2 .9-1 .8

2.41.41.7

- . 3- . 2

198.1

202.1

2.61.4*

205,4

200.8

- . 7- 1 . 9

2.61.41.3

!

203.8

Note.—See Special Analysis A, "Budget of the United States Government for the Fiscal Year Ending June 30,1971," fordescription of these categories.

Sources: Bureau of the Budget and Department of Commerce (Office of Business Economics).


T A B L E G—64.—Receipts and expenditures of the Federal Government sector of the national income

and product accounts, 1946—71


Year or quarter

Receipts

Total

38.442.743.640.042.060.865.169.365.867.275.880.777.985.494.895.3

104.2110.2115.5120.5132.8147.3160.9192.7201.8205.4

39.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3

106.4114.5115.0124.7142.5151.1176.3201.6

Darrer-sonalf n ylaxandnon-fayId A

ceipts

16.918.820.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.357.664.471.390.595.593.6

17.219.619.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.861.767.579.595.6

Cor-po-rate

profitstaxac-

cruals

8.310.611.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.525.727.731.031.134.340.038.838.4

8.610.711.89.8

17.021.518.519.517.020.620.620.218.022.521.721.822.724.626.429.332.130.638.340.4

Indi-rect

busi-nesstaxandnon-taxac-cru-alcais

7.47.97.98.08.29.59.7

10.710.410.010.811.711.611.913.213.314.215.015.616.915.716.117.218.619.120.5

7.87.88.08.08.99.4

10.310.99.7

10.711.211.811.512.513.513.614.615.316.116.515.716.318.018.8

Con-tribu-tionsfor

socialinsur-ance

5.85.54.64.85.56.67.37.57.88.7

10.211.712.213.816.718.119.922.123.524.628.535.838.043.648.352.9

5.55.14.54.95.97.17.47.48.19.3

10.612.212.414.817.718.220.523.123.825.133.036.740.546.9

Expenditures

Total

55.529.530.939.642.444.666.075.874.267.369.876.083.190.991.398.0

106.4111.4116.9118.5131.9154.6172.4186.7198.1203.8

35.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0

102.1110.3113.9118.1123.5142.8163.8181.5191.9

Pur-chases

ofgoodsand

serv-ices

40.113.013.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.764.471.785.395.3

101.1100.896.6

17.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.799.5

102.0

Transferpayments

Toper-sons

8.38.78.1

11.38.18.59.3

10.512.112.814.417.819.820.623.625U26.427.328.331.837.342.448.254.762.8

9.28.87.68.7

10.88.58.89.5

11.512.413.415.719.520.121.524.925.527.027.830.333.440.045.750.4

Tofor-

eign-ers

(net)

1.82.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12.22.22.32.22.12.22.22.2

2.21.93.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.22.32.22.11.9

Grants-in-aid

to Stateandlocal

govern-ments

0.91.51.82.12.42.42.52.82.93.03.23.74.76.26.86.97.68.49.8

10.912.714.817.618.922.424.8

1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1

10.411.114.415.918.319.9

Netin-ter-estpaid

3.74.24.24.34.44.64.84.85.04.95.15.55.75.97.06.86.87.58.18.59.09.9

10.812.313.613.3

4.24.24.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.78.38.79.5

10.311.613.0

Subsi-diesless

cur-rentsur-plusof

gov-ern-mententer-prises

2.1.7.5.8

1.01.31.1.9

1.01.31.72.82.52.42.33.23.83.63.84.14.55.14.14.14.54.1

1.6.6.7.8

1.21.31.0.8

1.11.52.42.62.72.12.53.84.03.64.24.35.44.74.34.6

Fiscal year:194619471948194919501951.1952195319541955195619571958195919601961196219631964196519661967196819691 9 7 0 1 . . : . .19711

Calendar year:1946194719481949195019511952 _19531954._195519561957195819591960196119621963196419651966196719681969 v

1968: 1 . . .I I . . .I I I . .IV__

1969: l ._ ._I I . . .I I I . .IV v_


165.7170.8181.4187.3

198.6202.8201.3

72.174.783.787.4

93.896.995.096 6

37.038.138.439.8

40.741.039.8

17.417.918.318.5

18.518.619.118.9

39.340.140.941.7

45.646.447.548.1

174.1180.3184.2187.4

188.5189.3193.6196.2

96.399.0

100.9101.9

101.6100.6103.2102.7

43.345.546.547.6

49.150.050.951.6

1.82.02.32.41.72.11.82.0

17.718.218.419.019.019.319.821.4

11.011.411.712.212.512.913.113. b

4.04.14.64.44.64.44.64.9

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; purchases of goods and services from business are timed with delivery;and CCC guaranteed price-support crop loans are counted as expenditures when the loans are made, not when CCC re-deems them.

Receipts for 1969 reflect repeal of investment tax credit.Sources: Department of Commerce (Office of Business Economics) and Bureau of the Budget.


TABLE G-65.—Public debt securities by kind of obligation, 1946-69


End of year or month

1946 .194719481949

19501951195219531954..19551956195719581959

1960196119621963.19641965 - -1966 - -19671968 -1969 _. _

1968' JanFebMar - -AprMayJune

julvAugSeptOctNov .--Dec

1969' JanFebMarAprMayJune


Totalpublicdebt

securi-ties

259.1256.9252.8257.1

256.7259.4267.4275.2278.7280.8276.6274.9282.9290.8

290.2296.2303.5309.3317.9320.9329.3344.7358.0368.2

346.3351.6349 5347.0352.3347.6

351 1354.4354 7357.2356.9358.0

359.4358.8359.5358 5360.1353.7

357.0360.2360.7364.4368.1368.2

interest-bearing public debt

Marketable public issuesby maturity class

Within1 year

54.849.644.649.4

49.447.157.773.962.861.768.675.372.679.9

75.385.987.389.488.593.4

105.2104.4108.6118.1

107.2116.3114.6111.8109.0106.4

110.8106.1106.5116.0104.9108.6

110.4100.3103.3101.2111.9103.9

107.4112.6112.6109.6120.1118.1

1 to 10years

61.756.155.151.8

50.556.762.250.464.768.658.956.971.083.7

89.584.795.694.2

100.495.687.597.0

103.493.3

97.092.092.091.997.895.2

95.2102.1102 195.7

105.9103.4

103.4111.5109.2109.197.697.6

97.694.194.1

101.093.393.3

10yearsandover

60.160.057.753.9

52.538.828 730.330.232.932.932.032.024.6

24.225.420.124.023.625.625.425.124.824.4

25.125.025.025.025.025.0

24 924.924 924.924.824.8

24.824.724.724 724.624.6

24.624.524.524.524.424.4

Nonmarketable public issues

Specialissues1

24.629.031.733.9

33.735.939 141.242.643.945 645.844.843.5

44.343.543.443.746.146.352.057.259.171.0

55.957.256.757.059.259.5

58.960.159 758.859.059.1

59.860.961.162.364.966.8

66.868.468.968.169.371.0

U.S.sav-ings

bonds 2

49.852.155.156.7

58.057.657.957.757.757.956 352.551.248.2

47.247.547.548.849.750.350.851.752.352.2

51.751.751.851.851.951.9

52.052.052 152.252.352.3

52.352.352.352.252.252.2

52.252.152.152.152.152.2

For-eignand

inter-na-

tional

0.5.7

1.31.72.41.53.14.33.8

3.23.43.33.53.53.7

3.53.33 73.84.44.3

4.44.54.54.54.44.1

4.03.83.84.13.83.8

Other

6 77.46.39.3

10.120.919 619 317.712.711 910.49.27.8

6 35.34.63.83.63.02.82.72.63.4

2.72.72.72.62.62.6

2.62.62 62.62.62.6

2.62.62.62.62.52.5

2.62.72.83.13.13.4

Maturedpublicdebtanddebtbear-ing nointer-

est

1 52.72.22.1

2.42.32 12 33.03.02 42 02.13.1

3 43.54.34.14.44.44.33.J2.J2.(

3 43.23.33.43.43.2

3.13.13 23.13.(2.S

l.J2.(l.Jl.Jl.J2.(

l.Jl.Jl.J2.(l.J2.(

1 Issued to U.S. Government accounts. These accounts also held $18.4 billion of public marketable and nonmarket-able issues on December 31,1969.

2 Includes sales of U.S. savings notes beginning May 1967.

Source: Treasury Department.


TABLE C-66.—Estimated ownership of public debt securities, 7939-69

[Par values,1 billions of dollars]

End of year ormonth

1939

19401941194219431944 - —194519461947 . .19481949

19501951195219531954. . . .19551956195719581959

1960 .1961...196219631964 . - _1965196619671968 . . . .1969 . -

1968: J a n . . . . . . . .FebMar...AprMayJune . .

July...Aug...SeptOctNov . . . .Dec

1969: Jan . . . .FebMarAprMayJune

July.AugSeptOctNovDec

Total public debt securities 2

Total

41.9

45.057.9

108.2165.9230.6278.1259.1256.9252.8257.1

256.7259.4267.4275.2278.7280.8276.6274.9282.9290.8

290.2296.2303.5309.3317.9320.9329.3344 7358.0368.2

346.3351.6349.5347.0352.3347.6

351.1354.4354.7357.2356.9358.0

359.4358.8359.5358.5360.1353.7357.0360.2360.7364.4368.1368.2

Heldby

Govern-ment

ac-counts

6.1

6.78.5

10.514.519.023 927.430 833.735.9

36.039 342.945.446 749.051.252.852.151.4

52.852.553.255.358.459.765.873 176.689.0

71.873.472.973.175.776.1

75.676.976.576.276.676.6

77.378.779.079.882.784.8

85.086.686.986.187.089.0

Heldby

FederalReservebanks

2.5

2.22.36.2

11.518.824.323.322.623.318.9

20.823 824.725.924 924.824.924 226.326.6

27.428 930.833.637.040 844.349 152 957.2

49.149.049.750.550.652.2

52.453.053.353.353.452.9

52.152.352.453.153.854.1

54.154.954.155.557.357.2

Held by private investors

Total

33.4

36.247.191.5

139.8192.8230.0208.3203.6195.8202.4

199.9196.3199.8203.8207 1207.0200.5197.9204.5212.7

210.0214.8219.5220.5222.5220.5219.2222 4228 5222.0

225.3229.2226.9223.4226.0219.2

223.1224.5224.9227.7226.9228.5

230.0227.8228.1225.6223.6214.8

217.9218.6219.6222.7223.8222.0

Com-mercialbanks 3

12.7

13.717.138.257.376.790.874.568.762.466.8

61.861.563.463.769.162.059.559.567.560.3

62.167.267.164.263.960.757.463.865.556.1

62.863.762.059.860.859.8

61.262.163.565.363.965.5

64.260.860 658.656.454.956.054.754.455.756.456.1

Mutualsavingsbanks

and in-surance

com-panies

8.4

9.211.015.420.828.034.736.735.932.731.5

29.626.225.525.124.123.121.220.119.819.4

18.017.417.516.816.515.614.112.711.610.1

12.512.512.612.312.412.0

12.011.911.911.711.611.6

11.511.411.311.111.611.0

10.610.410.210.110.210.1

Othercorpo-

rations*

2.0

2.04.0

10.116.421.422.215.314 114.816.8

19.720.719.921.519 123.218.717.718.121.4

18.718.518.618.718.215.814.912 214.615.8

13.414.814.113.615.613.0

14.314.512.914.014.814.616.817.817.617.017.415.1

15.816.815.216.416.815.8

Stateandlocal

govern-ments 5

0.4

.5

.71.02.14.36.56.37.37.98.1

8.89.6

11.112.714.415.416.316.616.518.0

18.719 020.121.121.122 924.925 127 127.1

25 626.427 126.926.826.6

26.726.926.726.826.727 1

27.828.428 128.728.127.3

27.527.327.627.027.327.1

Indi-viduals6

9.4

10.013.023.337.253.164.064.165.765.566.3

66.364.665.264.863.565.065.964.963.769.4

66.165.966.068.269.872.174.674.075.379.4

74.575.275.275.275.474.2

74.774.975.275.074.775.3

75.976.176.476.676.876.4

76.977.277.878.578.779.4

Miscel-laneousinves-tors?

0.5

.81.33.56.09.3

11.811.411.912.512.9

13.613.714.716.116.918.318.919.118.924.3

26.526.930.131.533. t33.433.334.734.433.5

36.536.635.935.634.933.7

34.234.234.734.835.234. ^

33.733.133. S33.533.230.2

31. C32.334.-35. C34.233.1

1 United States savings bonds, series A-F and J, and U.S. savings notes are included at current redemption value.2 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 exclude 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 C-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.«Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers,

Federal oriented agencies not included in Government accounts, and investments of foreign balances and internationalaccounts in this country. Beginning with December 1946, the international accounts include investments by the InternationalBank for Reconstruction and Development, the International Monetary Fund, the Internationa} Development Association,the Inter-American Development Bank, and various United Nations' funds, in special non-interest-bearing notes andbonds issued by the U.S. Government.

Source: Treasury Department.255


TABLE C-67.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-69

End of year or monthAmount

out-standing

Maturity class

Within1 year

1 to 5years

5 to 10years

10 to 20years

20 yearsand over

Average length

Millions of dollars Years

Fiscal year:1946—-1947....1948....1949....

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

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

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

1965..1966..1967..1968..1969-

1968: Jan...Feb..Mar..Apr...May..June..

1969: Jan...Feb...Mar..Apr...May_.June..

July..Aug..

Nov..Dec-

July. . . .AugSeptOct.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

208,695209,127210,672226,592226,107

229,285233,273231,651228,718231,761226,592

230,977233,167233,556236,651235,653236,812

238,543236,535237,272234,968234,097226,107

229,581231,230231,203235,029237,919235,863

61,97451,21148,74248,130

42,33843,90846,36765,27062,734

49,70358,71471,95267,78272,958

70,46781,12088,44285,29481,424

87,63789,13689,648106,407103,910

107,199116,253114,646111,783109,012106,407

110,824106,121106,534116,040104,938108,611

110,377100,282103,342101,159111,855103,910

107,416112,618112,616109,550120,144118,124

24,76321,85121,63032,562

51,29246,52647,81436,16129,866

39,10734,40140,66942,55758,304

72,84458,40057,04158,02665,453

56,19860,93371,42464,47062,770

78,15767,96767,96967,92267,01764,470

64,46964,99664,99758,60670,75168,260

68,26075,77873,49473,40762,76962,770

62,76369,51969,52274,76273,30573,302

41,80735,56232,26416,746

7,7928,70713,93315,65127,515

34,25328,90812,32821,47617,052

20,24626,43526,04937,38534,929

39,16933,59624,37830,75434,837

18,85924,00524,00624,00630,75230,754

30,75437,14337,14337,14235,13035,130

35,12935,72735,72635,72634,83734,837

34,83724,55324,55326,24720,02620,026

17,46118,59716,22922,821

28,03529,97925,70028,66228,634

28,61328,57826,40727,65221,625

12,63010,2339,3198,3608,355

8,4498,4398,4258,4078,374

8,4168,4148,4138,4118,4098,407

8,4068,4028,4018,4008,3988,396

8,3958,3948,3908,3868,3798,374

8,3728,3708,3678,3638,3608,358

43,59941,48141,48134,888

25,8538,7976,5941,5921,606

3,5304,3514,3497,2088,088

7,65810,96015,22114,44416,328

17,24117,02316,79716,55316,217

16,65416,63516,61716,59616,57116,553

16,52516,50416,48216,46416,43516,415

16,38216,35416,32016,29116,25716,217

16,19416,17016,14516,10716,08316,054

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).

Source: Treasury Department.


T A B L E C-68.—Receipts and expenditures of the government sector of the national income and productaccounts, 1929-69


Calendar year or quarter

1929

19301931 . . . . . . . . .19321933 . .193419351936 . . . .193719381939

19401941194219431944 . . .19451946194719481949

1950195119521953195419551956195719581959..

I960196119621963196419651966 - -196719681969*

1967:1IIIIIIV

1968:1 .

IllIV

1969:1 -IIIllIV*

Total government

Re-ceipts

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'. 1189.1213 3228.4264.2302.0

222.0224.4230.1237.0

248.5257.3271.1279.7

294.1302.0303.4

Ex-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 9175.4186.9212.3242.9270.8293.0

236.1240.4244.8250.4

260.0268.1274.5280.6

285.9290.6296.0299.7

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

2.74.9.7

-12.5-2 .1

3.7- 4 . 3- 2 . 9

1 8—1.4

2.21.1

-14.5-6 .7

9.0

Federal Government *

Re-ceipts

3.8

3.02.01 72.73.54.05.07.06.56.7

8 615.422.939 341.042.539.143 243.338.9

49 964.067.270.063.872 177.681.678.789.7

96.598 3

106.4114 5115.0124.7142.5151.1176.3201.6

Ex-pendi-tures

2.6

2.84.23.24.06.46.58.77.48.68.9

10.020.556.185.895.584.635.629.834.941.3

40.857.871.077.069.768.171.979.688.991.0

93.0102.1110.3113.9118.1123.5142.8163.8181.5191.9

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

1.2

.3- 2 . 1—1.5- 1 . 3- 2 . 9- 2 . 6- 3 . 6

—2.1- 2 . 2

—1.3- 5 . 1

- 3 3 . 1—46.6- 5 4 . 5- 4 2 . 1

3.513.48.4

- 2 . 4

9.16.2

- 3 . 8- 7 . 0- 5 . 9

4.05.72.1

. - 1 0 . 2- 1 . 2

3.5—3.8—3.8

7—3.0

1.2—» 2

- 1 2 . 7—5.2

9.7

State and localgovernment

Re-ceipts

7.6

7.87.77.37.28.69.18.69.19.39.6

10.010.410.610.911.111.612.915.317.619.3

21.123.325.227.228.831.434.738.241.646.0

49.953.658.663 469.575.585.293.2

106.2120.2


-14.1-16.0-14.6-13.4

-11.5-10.8-3 .5- . 9

8.311.47.4

147.5148.3152.0156.4

165.7170.8181.4187.3

198.6202.8201.3

159.5161.4165.3168.8

174.1180.3184.2187.4

188.5189.3193.6196.2

- 1 2 . 0—13.2- 1 3 . 4- 1 2 . 3

- 8 . 4- 9 . 5- 2 . 8- . 1

10.113.57.7

89.690.994.497.9

100.5104.7108.0111.4

114.5118.5121.9

Ex-pendi-tures

7.8

8.48.57 67.28.18.68.18.49.09.6

9 39.18.88 48.59.0

11.014 317.420.0

22.323.725.327.029.932.735.639.544.046.8

49.654.157.662 267 874.583 995.0

107.6121.0

91.793.695.699.0

103.6106.0108.7112.2

116.3120.5122.2124.9

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

- 0 . 2

- . 6- . 8— 3

* E

:6

.7

1.31.82.52.72.61.91.0

-.7—1.2

- 1 . 1—1.3

—1.4- 2 . 3

. 2—.5

.91 21 71.01.3

—1.8—1.5

- 2 . 1—2.8- 1 . 3- 1 . 0

—3.1- 1 . 3

-'.B

- 1 . 8- 2 . 1

- . 3

iSee Note, Table C-64.2 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 localreceipts and expenditures. Total government receipts and expenditures have been adjusted to eliminate this duplication.

Federal receipts for 1969 reflect repeal of investment tax credit.



T A B L E G-69.—Receipts and expenditures of the State and local government sector of the nationalincome and product accounts, 1946-69

[Billions of dollars; calendar years]

Year orquarter

194619471948___1949

1950_1951195219531954

195519561957 -19581959

196019611962- .1963 . .1964

19651966196719681969 T>

1967' 1IIIIIIV

1968: 1IIIIIIV

1969: 1IIIIIIV p

Receipts

Total

12.915.317.619.3

21.123.325.227.228.8

31.434.738.241.646.0

49.953.658.663.469.5

75.585.293.2

106.2120.2

Per-sonaltaxand

nontaxreceipts

1.51.82.12.4

2.62.93.13.43.7

4.14.75.25.66.3

7.37.78.79.4

10.8

11.813.715.418.421.9

Cor-porateprofits

taxaccruals

0.5.6.7.6

.8

.9

.8

.8

.8

1.0

1

nn01.2

1 447q

2.12.22.43 03.1

Indirectbusi-nesstaxand

nontaxaccruals

9.310.612.113.3

14.515.817.318.719.7

21.423.625.527.028.9

31.734.136.939.442.3

45.949.953.859.967.8

Contri-butions

forsocialinsur-ance

0.5.6.7.8

1.0

1.31.5

1.82.02.32.52.7

3.03.23.53.84.1

4.55.05.76.57.5

Fed-eral

grants-in-aid

1.11.72.02.2

2.32.52.62.82.9

3.13.34.25.66.8

6.57.28.09.1

10.4

11.114.415.918.319.9

Expenditures

Total

11.014.317.420.0

22.323.725.327.029.9

32.735.639.544.046.8

49.654.157.662.267.8

74.583.995.0

107.6121.0

Pur-chases

ofgoodsand

serv-ices

9.812.615.017.7

19.521.522.924.627.4

30.133.036.640.643.3

46.150.253.758.263.5

70.179.089.3

100.7112.7

Trans-fer

pay-ments

toper-sons

1.72.32.92.9

3.53.03.23.33.4

3.73.84.24.64.8

5.15.55.76.06.5

6.97.78.8

10.011.4

Netinterest

paid

0.3.3.3.3

.33

.3

.3

.4

.55

.5

.6

.7

7.8.8.8.7

.5

.3

.2

.3

.4

Less:Currentsurplusof gov-

ern-mententer-prises

0.7.8.8.9

.91.11.11.21.4

1.61.71.81.82.0

2.22.32.62.82.9

3.03.13.33.43.5

Surplusor

deficit

nationalincome

andprod-

uct ac-counts

1.91.0.1

- . 7

- 1 . 2— 4

- 1 . 1

—1.3— 9

—1.4—2.3

2—.5

.91.2

1.01.3

- 1 . 8—1.5

y


89.690.994.497.9

100.5104.7108.0111.4

114.5118.5121.9

14.715.215.716.1

17.218.018.919.5

20.521.522.523.3

2.42.42.42.5

2.93.03.03.1

3.13.13.0

52.053.054.355.9

56.559.261.162.9

64.867.168.970.4

5.45.65.86.0

6.26.46.66.9

7.17.47.78.0

15.114.716.217.4

17.718.218.419.0

19.019.319.821.4

91.793.695.699.0

103.6106.0108.7112.2

116.3120.5122.2124.9

86.488.190.092.9

97.199.4

101.7104.8

108.5112.3113.8116.2

8.48.68.99.3

9.79.8

10.210.5

11.011.311.611.9

0.2.1.1

.2

.3

.3

.4

.4

.4

.4

.4

3.23.33.33.3

3.43.43.53.5

3.53.53.63.6

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

- 3 . 1- 1 . 3- . 7- . 8

- 1 . 8- 2 . 1- . 3

* Deficit of $41 million.Source: Department of Commerce, Office of Business Economics.


T A B L E G—70.—State and local government revenues and expenditures, selected fiscal years, 1927—68[Millions of dollars]

Fiscal year *

General revenues by source2

TotalProp-ertytaxes

Salesand

grossre-

ceiptstaxes

Indi-vidualincometaxes

Corpo-ration

netincometaxes

Reve-nue

fromFederalGovern-

ment

Allotherreve-nue 3

General expenditures by function2

Total Edu-cation

High-ways

Publicwel-fare

Allother*

1927

19321934.19361938

1940. . . . . . . .1942194419461948

1950 . . .195219531954

19551956195719581959

1960196119621963

1962-63*1963-64 5... .1964-65«_.__1965-66 »„ . .1966-67 31967-68»

7,271

7,2677,6788,3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729,012

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

31,073 10,73534,667 11,74938,164 12,86441,219 14,04745,306 14,983

50,50554,03758,25262,890

16,40518,00219,05420,089

62,269 19,83368,443 21,24174,000 22,58383,036! 24,67091,197 26,047101,264, 27,747

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,6919,4679,829

10,437

11,84912,46313,49414,456

14,44615,76217,11819,08520,53022,911

70

7480153218

224276342422543

788998

1,0651,127

1,2371,5381,7541,7591,994

2,4632,6133,0373,269

3,2673,7914,0904,7605,8267,308,

92

7949113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,2661,3081,505

1,5051,6951,9292,0382,227

116

2321,016948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8434,8656,377

6,9747,1317,8718,722

8,663

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,2509,699

10,516

11,63412,56313,48914,850

14,556

7,210

7,7657,1817,6448,757

9,2299,1908,863

11,02817,684

22,78726,09827,91030,701

33,72436,71140,37544,85148,887

51,87656,20160,20664,816

10,002 15,95111,029 17,25013,214 19,26915,370: 21,197

2,518, 17,181 23 ,"~

63,97769,30274,54682,84393,350

598102,411

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,390

10, 557

11,90713,22014,13415,91917,283

18,71920,57422,21623,776

23,72926,28628,56333,28737,91941,158

1,809

,741,509,425,650

,573,490

1,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,8168,5679,592

9,4289,84410,35711,136

11,15011,66412,22112,77013,93214,481

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

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710,34210,61911,557

12,19713,39914,94016,54717,876

19,32521,06322,54924,423

23,67825,58627,44730,029

8,218 33,2819,857j 36,915

i Fiscal years not the same for all governments. See footnote 5.» 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.* 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 un-allocable expenditures.

> 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 C-60 for net debt of State and local governments.Source: Department of Commerce, Bureau of the Census.


CORPORATE PROFITS AND FINANCETABLE G-71.—Profits before and after taxes, all private corporations, 1929-69


Year orquarter

1929 _.

1930 . .193119321933193419351936 .1937193819391940 . .1941. .19421943 . . .1944 . . .19451946 . _ _1947. _. .19481949

1950 ._.19511952195319541955195619571958195919601961196219631964 . . .19651966196719681969"

1967: IIIIIIIV

1968: 1IIIIIIV

1969: 1|lIIIIV p

Corporate profits (before taxes)inventory valuation adjustment

Allin-

dus-tries

10.57.02.0

- 1 . 3- 1 . 2

1.73.45.66.84.96.39.8

15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641 151.749.950.355.758 966.376.182.479.287.988.7

Manufacturing

Total

5.23.91.3

- . 5- . 41.12.13.23.82.33.35.59.5

11.813.813.29.79.0

13.617.616.220.924.621.622.019.926.024.724.019 326.324 423.326.628 832.739.342.639.044.444.0

Dur-able

goodsin-

dus-tries

2.61.5.0

- 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

13.612 011.414.115 817.822 824 020.924.523.7

Non-dur-able

goodsin-

dus-tries

2.62.41.3.5.0.8

1.11.52.11.61.72.43.14.65.75.95.26.67.8

10.08.18.9

11.49.9

10.19.4

11.811.910.710.012.712.411.912.513.014.916.618.618.119.920.2

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

andpublic

utilities

1.81.2.5.2.0.4.4.7.8.5

1.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85 97.07.57.98.59.5

10.111.111.9.10.811.611.9

and

Allotherin-

dus-tries

3.41.9.2

- . 9- . 8

.3

.91.72.22.12.03.03.75.16.26.76.78.59.9

12.511.612.713.513.312.613.415.215.615.815 918.417.919.120.520 623.525.627.929.431.932.9

Cor-po-rateprof-itsbe-fore

taxes

10.03.7

- . 4- 2 . 3

1.02.33 66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241 452.149 750.355.459 466.877 884.280.391.194.3

Cor-po-ratetaxlia-bil-ity i

1.4.8.5.4

'.71.01.41.51.01.42.87.6

11.414.112.910.79.1

11.312.510.417.822.319.420.317.721.621.721.219 023.723.023.124.226 328.331.334.333.041.343.5

Corporate profitsafter taxes

Total

8.62.9

- . 9- 2 . 7

.41.62.64.95.32.95.67.2

10.110.111.111.29.0

15.520.222.718.524.921.619.620.420.627.027.226.022 328.526 727.231.233 138.446 549.947.349.850.8

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

10.511.311.711 612.613 413.815.216 517.819 820.821.523.124.6

Un-dis-trib-utedprof-its

2.8- 2 . 6- 4 . 9- 5 . 2- 1 . 6- 1 . 0

.4

.6- . 21.83.25.75.96.66.54.49.9

13.915.611.316.013.011.011.511.316.515.914.210 815.913 213.516.016 620.626.729.125.926.726.3

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

10.311.513.215.017.418.920.822.023.524.926.230.131.833.936.439.542.645.949.1

Profitsplus

capitalcon-

sump-tion

allow-ances 3

12.87.23.51.34.25.26.38.58.96.69.3

11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844 352.051.653.561.364 872.382.989.590.095.799.9


78.378.379.181.182.588.290.690.389.589.288.8

39.238 838 339.541.144.945.446.245.144 943.8

21.020 820 421.222.025.125.025.824.723 923.8

18.217.918 018.319.119.820.420.420.321.020.0

10.910.710.810.911.311.512.011.611.811.711.9

28.228 830.130.730.131.833.132.632.632 633.1

78.479 179 584.487 99̂0.7

91.594.595.595 492.5

32.332 632 534.539.941.141.442.943.944.142.8

46.146 447.049.947.949.750.051.651.751.349.7

21.121.722.021.122.222.923 623.823.824.324.925.2

24.924.825.028.825.726.726.527.827.927.024.9

41.542.243.043.844.845.846.246.747.748.649.650.5

87.588.690.093.792.895.596.398.499.4

100.099.3

1 Federal and State corporate income and excess profits taxes.2 Includes depreciation and accidental damages.3 Corporate profits after taxes plus corporate capital consumption allowances.Note.—Corporate profits tax and related items for 1969 reflect repeal of investment tax credit.Source: Department of Commerce, Office of Business Economics.


T A B L E C—72.—Sales, profits, and stockholders' equity, all manufacturing corporations {exceptnewspapers*), 1947-69

{Billions of dollars]

Year orquarter

194719481949

1950 . .195119521953 .1954

195519561957 .19581959

I9601961196219631964

1965196619671968

1967: 1IIIIIIV

1968: 1IIIIIIV

1969: l»I P . . . .Ill i

All manufacturingcorporations

Sales(net)

150.7165.6154.9

181.9245.0250 2265.9248.5

278.4307.3320.0305.3338.0

345.7356.4389.9412.7443.1

492.2554.2575.4631.9

137.0145 1141.5151.8

148.9158.9155.7168.4

162.8176.1172.4

Profits

Beforetaxes

16.618.414.4

23.227.422.924.420.9

28.629.828.222.729.7

27.527.531.934.939.6

46.551.847.855.4

11.412 611.012.8

12.514.813.214.9

14.115.813.9

Aftertaxes

10.111.59.0

12.911.910.711.311.2

15.116 215.412.716.3

15.215.317.719.523.2

27.530.929.032.1

6.77.66.77.9

7.48.37.68.7

7.98.98.0

Stock-holders'equity2

65.172.277.6

83.398.3

103.7108.2113.1

120.1131.6141.1147.4157.1

165.4172.6181.4189.7199.8

211.7230.3247.6265.9

240.9245.6249.7254.3

258.6263.4268.4273.2

281.5288.0293.0


Sales(net)

66.675.370.3

86.8116.8122.0137.9122.8

142.1159.5166.0148.6169.4

173.9175.2195.5209.0226.3

257.0291.7300.6335.5

71.177.072.680.0

78.886.081.089.8

86.094.289.8

Profits

Beforetaxes

7.68.97.5

12.915.412.914.011.4

16.516.515.811.415.8

14.013.616.718.521.2

26.229.225.730.7

6.27.25.47.0

6.78.66.88.6

7.88.97.1

Aftertaxes

4.55.44.5

6.76.15.55.85.6

8.18.37.95.88.1

7.06.98.69.5

11.6

14.516.414.616.5

3.44.13.14.0

3.74.53.74.7

4.14.73.8

Stock-holders'equity 2

31.134.137.0

39.947.249.852.454.9

58.865.270.572.877.9

82.384.989.193.398.5

105.4115.2125.0135.6

121.6123.7126.0128.6

130.9134.1137.2140.4

143.4146.8148.9

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

235.2262.4274.8296.4

65.968.268.971.8

70.172.974.878.6

76.881.982.7

Profits

Beforetaxes

9.09.57.0

10.312.110.010.49.6

12.113.212.411.313.9

13.513.915.116.418.3

20.322.622.024.7

5.25.45.65.9

5.86.26.46.3

6.36.96.8

Aftertaxes

5.66.24.6

6.15.75.25.55.6

7.07.87.56.98.3

8.28.59.2

10.011.6

13.014.614.415.5

3.33.53.63.9

3.73.84.04.1

3.84.24.2

Stock-holders'equity2

34.038.140.6

43.551.153 955.758.2

61.366 470.674.679.2

83.187.792.396.3

101.3

106.3115.1122.6130.3

119.3121.8123.6125.7

127.7129.4131.2132.9

138.0141.2144.1

11 ncludes newspapers beginning 1969.2 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 from one period to another due to changes in accounting procedures, industry

classifications, sampling procedures, etc. Specific information about the effects of the more significant changes and re-visions is contained in the following issues of the "Quarterly Financial Report": third quarter 1953, third quarter 1956,first quarter 1959, and first quarter 1965.

Sources: Federal Trade Commission and Securities and Exchange Commission.

2 6 lDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

T A B L E G—73.—Relation of profits after taxes to stockholders1 equity and to sales, all manufac-

turing corporations {except newspapers1), by industry group, 1948-69

Year orquarter

Allman-ufac-tur-ingcor-

pora-tions(ex-cept

news-pap-ers*)


Totaldur-able 2

Mo-tor

vehi-clesand

equip-ment

Air-craftandparts

Elec-tricalma-

chin-ery,

equip-ment,and

sup-plies

Ma-chin-ery

(ex-ceptelec-trical)

Fab-ri-

catedmetalprod-ucts

Pri-maryironandsteel

in-dus-tries

Pri-marynon-fer-rousmetal

in-dus-tries

Stone,clay,and

glassprod-ucts

Fur-nitureandfix-

tures

Lum-berand

woodprod-ucts(ex-cept

furni-ture)

In-stru-mentsandre-

latedprod-ucts

Ratio of profits after Federal taxes (annual rate) to stockholders' equity—percent 3

19481949

1950195119521953195419551956195719581959

19601961196219631 9 6 4 . . . . . . . .196519661967.1968

1968: IIIIIIIV

1969: lIP....

16.011.6

15.412.110.310.59.9

12.612.310.98.6

10.4

9.28.99.8

10.311.613.013.411.712.1

11.512.611.412.8

11.312.410.9

15.712.1

16.913.011.111.110.313.812.811.38.0

10.4

8.58.19.6

10.111.713.814.211.712.2

11.313.410.713.3

11.412.910.3

19.922.1

25.314.313.913.914.121.713.114.28.2

14.5

13.511.416.316.716.919.515.911.715.1

16.517.97.4

18.5

15.414.57.2

17.713.28.1

7.39.8

12.711.312.215.214.412.914.2

13.614.414.314.5

12.111.09.7

16.113.6

20.914.013.713.112.412.311.412.510.212.5

9.58.9

10.010.111.213.514.812.812.2

11.811.411.513.9

11.211.311.2

16.311.6

14.113.011.39.88.6

10.312.610.76.99.7

7.57.89.19.6

12.514.115.012.912.3

11.113.612.312.1

11.214.611.7

17.010.4

16.013.410.19.87.6

10.010.79.37.38.0

5.65.97.98.3

10.113.214.712.711.7

10.012.512.112.3

10.812.511.1

14.710.0

14.312.38.5

10.78.1

13.512.711.47.28.0

7.26.15.47.08.89.8

10.27.77.6

8.610.54.56.77.48.76.1

14.28.1

15.113.811.611.110.415.516.49.36.07.9

7.17.17.57.69.8

11.914.810.910.8

8.911.59.9

12.6

11.312.911.5

15.013.1

17.714.211.711.812.515.614.912.410.212.7

9.98.98.98.79.6

10.39.98.29.2

3.911.712.09.14.9

11.912.2

15.98.1

15.211.38.68.26.09.2

11.68.56.38.9

6.54.97.98.3

10.113.414.212.112.2

9.112.812.514.6

11.013.413.5

19.29.1

17.511.98.57.16.3

11.18.74.75.79.4

3.64.15.68.29.9

10.110.08.6

14.6

10.916.116.315.1

17.118.98.6

14.012.1

16.713.211.611.412.312.512.412.010.613.1

11.610.612.012.114.417.520.918.016.6

14.115.518.018.4

13.816.015.7

Profits after taxes per dollar of sales—cents

194819491950...19511952195319541955..19561957195819591960196119621963196419651966196719681968: I

II.III . .IV..

1969: 1 1 . . .IM.IIP

7.05.87.14 84.34.34.55.45.34.84.24.8

4.44.34.54.75.25.65.65.05.15.05.24.95.2

4.95.14.6

7.16.47.75.34.54.24.65.75.24.83.94.8

4.03.94.44.55.15.75.64.84.9

4.75.24.55.2

4.85.04.3

6.97.98.34.74.73.95.16.95.25.44.06.3

5.95.56.96.97.07.26.24.95.7

6.16.23.46.3

5.65.23.1

~~2.y2.41.6

1.41.82.42.32.63.33.02.73.2

2.93.23.43.3

3.53.33.0

5.95.77.25.04.54.14.54.43.84.23.84.4

3.53.53.73.84.24.84.84.44.3

4.24.14.14.7

4.03.94.0

7.36.47.35.54.84.24.45.15.44.83.74.8

3.94.14.54.75.86.26.45.75.5

5.15.75.65.4

5.26.15.3

7.15.16.85.04.03.63.13.84.03.63.13.2

2.42.53.13.23.74.54.94.54.1

3.64.44.24.1

3.84.13.6

7.66.57.95.84.75.35.37.26.76.65.45.4

5.14.63.94.85.65.75.84.84.6

5.15.52.94.6

4.54.83.6

9.06.9

10.27.86.76.36.68.39.36.64.75.8

5.45.35.55.36.57.38.26.86.2

5.46.45.96.9

6.46.86.2

8.68.6

10.17.16.66.57.48.68.27.56.87.9

6.65.85.65.35.65.95.64.85.2

2.66.46.34.9

2.95.75.9

5.53.35.13.42.72.62.12.93.42.62.02.7

2.11.62.32.42.93.73.93.53.42.83.63.53.8

3.13.63.8

9.95.99.45.54.13.53.45.43.92.32.84.2

1.71.92.53.33.94.03.83.45.34.45.75.85.4

6.36.63.2

7.87.18.66.14.84.65.56.05.85.75.46.5

5.95.45.96.07.28.69.58.58.1

7.47.68.78.5

7.37.88.1



TABLE C-73.—Relation of profits after taxes to stockholders* equity and to sales, all manufac-turing corporations {except newspapers1), by industry group, 1948-69—Continued

Year orquarter

19481949.19501951195219531954195519561957 _.19581959.. . .1960196119621963 . . .1964..1965.1966196719681968: 1

I I . . . .Ill —IV.. . .

1969: 1 »... .II i._.IIH- .

1948194919501951195219531954... .19551956... .195719581959.196019611962196319641965..1966196719681968: 1

I I — .III . . .I V - . .

1969: \K...II i . . .III*. .

Nondurable goods industries

Totalnon-dur-

able::

16.211.214.111.29.79.99.6

11.411.810.69.2

10.49.89.69.9

10.411.512.212.711.811.911.711.712.112.211.111.911.5

Foodandkin-dredprod-ucts

To-baccoman-ufac-tures

Tex-tilemill

prod-ucts

Ap-pareland

relatedprod-ucts

Paperand

alliedprod-ucts

Print-

andpub-lish-ing

(ex-cept

news-pa-

pers i)

Chem-icalsand

alliedprod-ucts

Petro-leumrefin-ing

Rub-berandmis-

cella-neousplasticprod-ucts

Ratio of profits after Federal taxes (annualjrate) to stockholders' equity—percent 3

12.811.812.38.17.68.18.18.99.38.78.79.38.78.98.89.0

10.010.711.210.810.89.9

10.211.411.49.6

10.711.9

13.612.611.59.58.49.4

10.211.411.712.513.513.413.413.613.113.413.413.514.114.414.413.513.615.914.812.114.815.6

18.77.6

12 78.24.24.61.85.75.84.23.57.55.85.06.26.18.5

10.910.17.68.87.19.19.59.37.28.87.7

12.17.5

10.12.94.45.14.56.18.16.34.98.67.77.29.37.7

11.712.713.312.013.012.09.3

15.015.310.311.415.9

16.410.716 213.910.510.19.9

11.511.68.98.19.58.57.98.18.19.39.4

10.69.19.78.5

10.59.2

10.69.8

11.19.6'

14.711.411.510.39.19.49.2

10.213.011.79.0

11.410.68.5

10.39.2

12.614.215.613.012.510.910.714.813.810.813.112.4

15.813.217.812.210.910.711.614.714.213.311.413.712.211.812.412.914.415.215.113.113.313.413.612.813.312.913.812.4

15.213.313.412.713.413.912.510.09.8

10.110.310.111.311.411.812.412.512.312.911.912.112.212.011.911.4

12.38.7

16.914.811.111.310.613.212.211.19.1

11.09.19.39.69.2

10.611.712.210.312.310.813.511.812.99.6

11.99.5

Leatherand

leatherprod-ucts

10.46.2

10.92.15.86.05.98.57.27.05.i8.S6.34.46.96.9

10.511.612. <11. S13. t13.312. (12 J14.48.68.C9.4

Profits after taxes per dollar of sales—cents

6.85.46.54.54.14.34.45.15.34.94.44.94.84.74.74.95.45.55.65.35.25.35.25.35.25.05.15.6

3.33.33.42.01.92.02.12.32.42.22.22.42.32.32.32.42.72.72.72.62.62.52.52.72.72.42.62.8

5.25.14.93.83.23.74.24.85.05.25.45.45.55.75.75.95.95.95.95.95.55.75.56.05.14.65.25.6

8.34.15.83.41.92.21.02.62.61.91.63.02.52.12.42.33.13.83.62.93.12.73.23.43.22.73.22.8

3.12.12.8.60

.?

,3.6

.0f>

.43

1.6

2.12.32.42.32.42.51.92.72.62.22.23.0

8.56.58.86.65.75.45.66.16.15.04.75.25.04.74.64.55.14.95.44.74.74.45.14.55.04.75.24.7

5.24.54.53.73.33.43.43.64.23.73.14.03.62.83.43.24.34.85.14.44.13.83.6i.81.31.1i.9

4.7

8.88.2

10.36.56.16.16.88.38.07.67.07.97.57.37.47.57.97.97.86.96.87.06.96.66.66.76.86.3

11.110.110.410.611.111.610.69.59.59.9

10.39.7

10.810.911.111.211.010.711.210.610.710.310.610.210.0

4.73.85.84.53.63.84.04.44.44.23.54.03.63.83.73.64.14.34.43.94.54.24.84.54.63.74.13.5

3.32.23.7

1.11.11.!2.52.12.1i.;2.21.6i.:I.II.I2.12.13.13.13.23.33.:3.23.(2.42.22.6

1 Includes newspapers beginning 1969.2 Includes certain industries not shown separately.a 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—For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for Manufacturing

Corporations," Federal Trade Commission and Securities and Exchange Commission. See also Note, Table C-72.

Sources: Federal Trade Commission and Securities and Exchange Commission.

263


TABLE C—74.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1958-68[Billions of dollars]

Source or use of funds

Sources, total-

Internal sources l

Undistributed profits iCorporate inventory valuation ad-

justmentCapital consumption allowancesL

External sources

Stocks..BondsMortgagesBank loans n.e.cOther loansTrade debtProfits tax liabilityOther liabilities

Uses, total _..._-<-

Purchases of physical assets

Nonresidential fixed investment-Residential structuresChange in business inventories. _

Increase in financial assets

Liquid assetsDemand deposits and cur-

rencyTime depositsU.S. Government securitiesOpen-market paper.State and local obligations

Consumer creditTrade creditOther financial assets

Discrepancy (sources less uses)

1958

44.2

29.5

8.3

-.321.4

14.7

2.15.72.9-.3-.24.7

-2.62.4

40.5

27.3

28.41.4

-2.5

13.2

2.7

1.5.9.0

-.2.5

.68.31.7

3.7

1959

57.9

35.0

12.6

-.522.9

22.9

2.23.03.03.5-.35.52.43.6

53.1

36.9

31.11.74.1

16.2

5.6

-1.0-.46.6

J

.87.72.0

4.8

1960

48.1

34.4

10.0

.224.2

13.7

1.63.52.51.91.9.6

-2.24.0

43.7

39.0

34.91.13.0

4.7

-3.2

-.51.3

-5.41.7-.2

.45.32.2

4.3

1961

56.6

35.6

10.2

-.125.4

21.0

2.54.63.9.7.65.41.41.7

52.2

36.7

33.21.91.5

15.6

3.7

1.71.9-.2.4.0

.29.52.1

4.3

1962

64.9

41.8

12.4

.329.2

23.1

.64.64.53.0.0

4.6.6

5.2

60.0

44.0

37.02.34.7

16.0

3.5

-.93.7.5.6

-.3

.78.53.2

5.0

1963

67.1

43.9

13.6

-.530.8

23.2

l.*94.93.7.25.31.93.7

63.2

45.6

38 62.64.3

17.7

4.7

-.83.9

.2

1.08.13.9

3.8

1964

71.8

50.5

18.3

-.532.8

21.3

1.44.03.63.8.9

3.6.5

3.5

64.9

52.1

44.12.15.9

12.8

1.2

-2.33.2

-1.51.6.2

1.38.12.2

6.9

1965

93.1

56.6

23.1

-1.735.2

36.5

.05.43.910.6.69.12.24.6

85.8

62.8

52.82.07.9

23.1

1.7

-1.53.9

-1.6

'.5

1.215.15.1

7.2

1966

100.6

61.2

24.7

-1.838.2

39.4

1.210.24.28.41.47.3.26.5

92.5

77.1

61.61.114.4

15.5

1.9

,7

-~1.*22.01.0

1.211.31.0

8.0

1967

94.2

61.2

21.2

-1.141.2

33.0

2.314.74.56.41.42.6

-4.15.2

85.9

72.5

63.82.26.4

13.5

.6

-2.24.1

-2.5

-;!

.98.83.2

8.2

1968

110.4

63.1

22.0

-3.244.3

47.3

- . 812.95.89.63.65.73.76.9

103.5

76.9

68.02.36.5

26.6

10.1

1.32.21.84.5.4

1.714.8

.1

6.9

*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.



TABLE C-75.—Current assets and liabilities of United States corporationss 1939-69[Billions of dollars]

End of yearor quarter

1939194019411942 .1943194419451946 .

19471948 . . .1949195019511952 _1953.195419551956 . .1957.19581959 . .19601961New series5

1961 . . .19621963196419651966196719681967:1

IIMLIV

1968:1IIIIIIV

1969:1IIIII

Current assets

Total

54.560.372.983.693.897.297.4

108.1

123.6133.0133.1161.5179.1186.2190.6.194.6224.0237.9244.7255.3277.3289.0306.8

304.6326.5351.7372.2410.2442.6463.1506.3443.2444.2451.9463.1470.9481.2491.5506.3515.7526.7536.8

Cashon

handandin

banks1

10 813.113. &17.621.621.621.722.8

25.025.326.528.130.030.831.133.434.634.834.937.436.337.241.1

40.743.746.547.349.949.351.455.146.646.948.351.449.350.551.955.151.952.651.2

U.S.Gov-ern-ment

securi-ties 2

2.22.04.0

10.116.420.921.115.3

14.114.816.819.720.719.921.519.223.519.118.618.822.820.120.0

19.219.620.218.617.015.412.213.714.111.310.612.214.513.012.613.715.413.011.8

Re-ceiv-ablesfromU.S.Gov-ern-

ments

0.1.6

4.05.04.72.7.7

Notesandac-

countsreceiv-able

22.123.927.423.321.921.823.230.0

38-3424-

1.12.72.82.62.42.32.62.82.82.93.13.4

3.43.73.63.43.94.55.15.14.44.64.75.14.84.74.85.14.84.84.6

.4

.055.758.864.665.971.286.695.199.4

106.9117.7126.1135.8

133.3144.2156.8169.9190.2205.2214.6235.6205.2207.6211.5214.6216.6223.5229.4235.6239.8247.1254.7

In-ven-

tories

18.019.825.627.327.626.826.337.6

44.648.945.355.164.965.867.265.372.880.482.281.988.491.895.2

95.2100.7107.0113.5126.9143.1152.3164.6146.6147.7149.7152.3155.0158.3162.1164.6169.2174.0178.7

Othercur-rentas-

sets <

1.41.51.41.31.31.42.41.7

1.61.61.4

1.72 12.42.43.14 25.96.77 59.1

10.611.4

12.914.717.819.622.325.127.632.226.426.027.127.630.731.230.832.234.635.335.7

Current liabilities

Total

30.032.840.747.351.651.745 851.9

61.564.460.779 892.696.198.999.7

121.0130.5133.1136.6153.1160.4171.2

155.8170.9188.2202.2229.6?54.4264.3293.9?5? 4?5?,5256.9264.3266.6273.5282.7293.9300.8310.4322.2

Ad-vances

andpre-pay-

ments,U.S.Gov-ern-

ment3

0.6.8

2.02.21.8.9.1

.-" *.373937

.41.32.32.22.42.32.4£ 31.71.71.81.8

1.82.02.52.73.14.45.86.44.95.45.75.86.16.26.36.46.97.27.5

Notesandac-

countspay-able

21.922.625.624.024.125.024.831.5

- ' — •<•

.6

.3

.547.953.657.057.359.373.881.584,388.799.3

105.0112.8

110.0119.1130.4140.3160.4179.0186.4205.2176.3179.8181.4186.4184.7190.9196.8205.2206.1215.3222.9

Fed-eralin-

cometax

liabili-ties

1.22.57.1

12.616.615.510.48.5

10.711.59.3

16.721.318.118.715.519.317.615.412.915.013.514.1

14.215.216.517.019.118.314.616.817.812.213.014.616.514.815.116.819.115.416.4

Othercur-rentlia-

bili-ties

6.97.17 28.78.79.49.7

11.8

13.213.514.014.916.518.720.722.525.729.031.133.337.040.142.5

29.834.538.742.246.952.857.465.453.555.156.757.459.361.564.665.468.8-72.575.4

Network-

ingcapi-tal

24.527. £32.336.342.145.651.656.2

62.168.672.481.686.590.191. E94.9

103. C107.4111.6118.7124.2128.6135.6

148. f155.6163.1170. C180.7188.2198.8?\?A190.7191.6195. C198.8?04.?207.1208.7212.4215. C216.3214. (

1 Includes time certificates of deposit.2 Includes Federal agency issues.3 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.

* Includes marketable investments (other than Government securities and time certificates of deposit) as well as sundrycurrent assets.

s 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 1956 are based on"Statistics of Income" (Treasury Department), covering virtually all corporations in the United States. "Statistics ofI ncome" 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.

265


TABLE C--76.—State and municipal and corporate securities offered, 1934-69


Year or quarter

State andmunicipalsecurities

offeredfor cash

(principalamounts)

939

1,2321,121908

1,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894,4015,5586,969

5,9775,4466,9587,4497,681

7,2308,3608,55810,10710,544

11,14811,08914,28816,37411,442

4,0463,7993,0383,404

3,6583,7714,5114,435

2,7383,4262,3762,902

Corporate securities offered for cash

Totalcorpo-rate

offer-ings

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

15,99218,07424,79821,96626,790

5,4646,2086,8326,294

5,1785,7055,1335,950

6,2197 3546,3326,880

Type of corporate security

Com-mon

stock

19

222722852587

1081103456163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,2941,3141,0112,679

1,5471,9391,9593,9467,740

298518447696

740832986

1,389

1,7862,1411,6162,200

Pre-ferredstock

2714068698

183167112124369

7581,127762492425

631838564489816

635636411571531

409450422343412

725574885637690

92208231354

249124179

236128182150

Bondsandnotes

371

2,2254,0291,6182,0441,980

2,3862,390917990

2,669

4,8554,8825,0365,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,4208,96910,85610,865

13,72015,56121,95417,38318,360

5,0745,4826,1545,244

4,1894,7493,9674,477

4,1975,0854,5344,530

Industry of corporate user

Manu-fac-

turing 1

67

7971,3321,120848604

992848539510

1,061

2,0263,7012,7422,2261,414

1,2003,1224,0392,2542,268

2,9943,6474,2343,5152,073

2,1524,0773,2493,5143,046

5,4177,07011,0586,9796,310

2,5023,0842,8802,591

1,9071,703',657,712

,407,774,862

1,270

Elec-tric,

andwater 2

133

1,2842,040

7711,2341,271

1,2031,357

472477

1,422

2,3192,1583,2572,1872,320

2,6492,4552,6753,0293,713

2,4642,5293,9383>8043,258

2,8513,0322,8252,6772,760

2,9363,6654,9355,2816,700

1,0111,3041,2811,339

1,4421,2441,1601,435

1,3451,8791,5441 930

Trans-porta-tions

176

12679734455186

32436648161609

1,454711286755800

813494992595778

893724824824967

718694567957982

1,0131,9722,0671,8752,120

503437659469

404470427574

807612371320

Com-munica-

tion

902571

399612760882720

1,1321,4191,4621,424717

1,0501,8341,3031,1052,189

9472,0031,9791,7662,190

548556601274

422536490319

474432684600

1 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial and miscellaneous companyissues.

2 Prior to 1948, also includes telephone, street railway, and bus company issues.3 Prior to 1948, includes railroad issues only.

Note.—Covers substantially all new issues of state, municipal, and corporate securities offered for cash sale in the UnitedStates in amounts over $100,000 and with terms to maturity of more than 1 year; excludes notes issued exclusivelyto commercial banks, intercorporate transactions, investment company issues, and issues to be sold over an ex-tended period, such as employee-purchase plans.

Sources: Securities and Exchange Commission, "The Commercial and Financial Chronicle," and "The Bond Buyer."

366


TABLE C-77.—Common stock prices,

Year or month

193919401941194219431944 _ . . .1945 __., . . .1946 .1947194819491950.195119521953195419551956...1957195819591960. .19611962 . . .196319641965 . . .1966 . . . . . . . .19671968.1969 P

1968: JanFebMarAprMay....JuneJulyAugSeptOctNov....Dec

1969: JanFeb .MarAprMayJuneJuly .AugSeptOctNovDeep _ _

earnings, and yields, and stock market credit, 1939-69

Standard & Poor's common stock data

Price index *

Total(500

stocks)

Indus-trials(425

stocks)

Publicutilities

(55stocks)

Rail-roads(20

stocks)

1941-43=10

12.0611.029.828.67

11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8495.0490.7589.0995.6797.87

100.53100.3098.11

101.34103.76105.40106.48102.04101.4699.30

101.26104.6299.1494.7194.1894.5195.5296.2191.11

11.7710.699.728.78

11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1993.4891.0899.18

107.49107.13103.1198.3396.77

104.42107.02109.73109.16106.77110.53113.29114.77116.01110.97110.15108.20110.68114.53108.59103.68103.39103.97105.07105.86100.48

16 3415.0510.937.74

11.3412.8116.8420.7618.0116.7717.8719.9620.5922 8624.0327.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969.9176.0868.2168.1066.4262.6468.0265.6162.6263.6662.9265.2167.5566 6066.7766.9370.5970.5468.6569.2466.0765.6366.9163.2961.3259.2057.8458.8059 4655.28

9 829.419.398.81

11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.0930.3132.8330.5637.5845.4646.7846.3446 7248.8445.9543 3842.3541.6844.7948.0051.7251.0148 8051.1154.2653.7455.1954.1154.7850.4649.5349.9746.4343.0042 0442.0341.7540 6336.69

Divi-dend

yield 2(per-cent)

4 055.596.827.244.934.864.173.854.935.546.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.403.203.073.243.133.283.343.123.073.003.003.093.012.942.922.933.063.103.173.113.023.183.343.373.333.333.313.52

Price/earn-ings

ratio 3

13 8010.258.278.80

12.8413.6616.3317.699.366.916.646.639.27

10.479.69

11.2511.5114.0512.8916.6417.0517.0921.0616.6817.6218.0817.0814.9217.5217.20

16.40

17.23

17.61

17.54

17.68

16.59

15.70

Stock market credit

Customer credit (excludingU.S. Government

securities)

TotalNet

debitbal-

ances*

Bankloans

to"others"«

Bankloans tobrokers

anddealers •

Millions of dollars

1,374976

1,032968

1,2491,7981,8261,9802,4453,4364,0303,9843,5764,5374,4614,4155,6025,4947 2427,0537,7707,444

10,34712,48810,02610,2189,8409,622

10,04710,62511,13811,27710,97611,23811,41611,66612,48811,79311,94911,09910,80711,24010,95110,2169,6849,6559,8169,635

10,026

942473517499821

1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,0795,5215,3297,8839,7907,4477,7977,4197,2487,7018,2688,7288,8618,4898,7238,8599,0299,7909,0429,1488,3188,0448,4748,2147,5157,0197,0397,2437,1117,447

353432503515469428561573648780

1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271,974

«2,2492,1152,4642,6982,5792,4212,4212,3742,3462,3572,4102,4162,4872,5152,5572,6372,6982,7512,8012,7812,7632,766

7 2,7372,7012,6652,6162,5732,5242,579

715584535850

1,3282,1372,7821,471

7841,3311,60*1,7421,4192,0022,2482,6882,8522 2142,1912,56$2,58'2,6143,3914 3524,7544,631

8 4,2774,5015,0825,7965,1465,8265,0524,3054,3764,2824,5846,3276,1566,4525,6424,96C5,7964,53S4,3343,6974,36^4,05:

7 4,37S4,4623,38$3,5753,5884,1975,14€

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.s 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 through 1967 and includedthereafter. Data are for end of period.

«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.

6 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.

7 Revised series; not strictly comparable with earlier data.Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New York Stock

Exchange.


TABLE C-78.—Business formation and business failures, 1929-69

Year or month

1929

1930193119321933 31934193519361937193819393

19401941 -19421943194419451946194719481949

195019511952. .195319541955195619571958195919601961.196219631964 .1965.19661967...1968 .1969

1968* JanFebMarAprMay . .June

JulyAug .Sept . . .Oct. .NovDec

1969: JanFebMar .AprMayJuneJulyAugSeotO c t . : : . . . . : . . . . :Nov . - .Dec

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

100.6104.5106.0105.5107.7117.8

Newbusinessincorpo-rations(num-ber)

132,916112,89796,34685,64093,09283,77892,946

102,706117,411139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,897200,010206,569233,635

Business failures 1

Busi-ness

failurerate 2

103.9121.6133.4154.1100.361.161.747.845.961.169.663.054.544.616.46.54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038.637.3

Seasonally adjusted

113.5114.7113.8112.8112.7114.5119.0119.1121.2123.9123.4125.3125.2125. 8123.2123.9123.1123.6124.6124.1123.0123.5120.5

17,22318,01417,97418,65918,79619,19719,53020,01120,98621,39421,15520,29220,57822,19921 35323,46723,23023,71123,77122,99123,14124,68322,749

38.237.544.343.540.936.941.036.540.337.535.729.932.035.638.036.436.939.834.936.039.939.540.938.2

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

11,08610,96912,68613,73914,96414,05315,44517,07515,78214,37413,50113,51413,06112,3649,6369,154

844832

1,0211,003

909751810734705768696563689731868823812792689702726815759748

Liability sizeclass

Under$100,000

22,16525,40827,23030,19718,88011,42111,6919,2859,203

12,55314,54113,40011,6859,2823,1551,176

7591,0033,1034,8538,7088,7467,6267,0818,075

10,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,1447,8297,192

651682839833707616646607598614569467545566722643661630537563573600570582

$100,000andover

744947

1,0551,625

979670553322287283227219163123664650

126371397538416432530787860856

1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201,8071,962

19315018217020213516412710715412796

144165T146180151162152139153215189166

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

941.01,142.1

104.579.688.680.191.474.790.365.858.765.458.783.475.090.084.1

118.892.691.9

112.762.873.7

116.4127.196.8

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

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3

20.421.426.124.821.918.619.218.319.118.617.914.818.117.723.419.721.619.017.818.617.919.218.719.4

$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

967.3699.9910.8

84.158.262.555.369.556.071.147.539.546.840.868.656.972.360.799.171.072.995.044.255.897.2

108.477.4

* 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.


AGRICULTURE

Year orquarter

1929.. ._

1930 .1931.1932193319341935193619371938939

940941. .942943944.945946947948. .949

950951952953954955956957958959

960961962. _ _363364365

967..968369*

968: 1IIIIIIV

969: 1 . . .IIIIIIV v

T A B L E G—79.—Income from

Personal incomereceived by totalfarm population

Fromall

sources

Fromfarm

sources1non-farm

sources2

agriculture, 1929-69

Income received from farming

Realized gross

Totals

Cashreceipts

frommarket-

ings

Produc-tion ex-penses

Net to farmoperators

Exclud-ing netinven-tory

change

Includ-ing netinven-tory

change *

Billions of dollars

5.47.77.29.07.27.4

7.610.114.116.516.617.220.021.123.819.5

20.422.722.119.818.417.617.817.719.518.1

18.719.720.420.620.623.624.923.924.927.1

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

11.512.212.312.111.313.514.413.013.114.5

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 27.58.28.59.3

10.010.510.911.812.6

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

38.139.841.342.342.644.949.749.051.154.6

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

34 235.136.437.437.239.343.342.744.447.4

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

26 427.128.629.729.530.933.434.836.338.6

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

11.712.612.612.613.114.016.314.214.816.0

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

12.113.013.213.212.315.016.314.714.716.2

Net income perfarm, includingnet inventory

change

Currentprices

1957-59prices5

Dollars

945

651506304379431775639905668685

7061,0311,5881,9271 9502,0632,5432,6153,0442,233

2,4212,9462,8962,6262,6062,4632,5352,5903,1892,795

3,0493,3993,5863,7083,5644,4875,0194,6834,8055,468

1,750

1,3021 177

822997

1,0021,8021 4862,0111,5531,631

1,6812,2913,0543,3223,1973,2233,5823,1513,4592,627

2,8153,1343,0482,7942,7722,5932,6412,6163,1892,767

2,9893,3323,4823,5653,3944,1924,5634,14^4,1074,446


50.050.951.851.9

52.955.155.355.1

43.444.245.045.0

46.048.248.047.5

35.636.136.537.2

37.938.838.838.9

14.414.815.314.7

15.016.316.516.2

14.914.414.914.5

15.016.516.916.4

4,8804,7104,8804,750

5,0505,5505,6905,520

4.21C4,03C4.14C3,99C

4,1704,51(4,6304,420

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.

s Cash receipts from marketings, Government payments, and nonmoney income furnished by farms.* Includes net change in inventory of crops and livestock valued at the average price for the year.«Income in current prices divided by the index of prices paid by farmers for family living items on a 1957-59 base.

Source: Department of Agriculture.3 7 2 - 1 1 1 O — 7 0 - 1 8 269


TABLE C—80.—Farm production indexes,

11957-59=100]

Year

1929...

1930...1931—1932...1933—1934...

1935...1936—1937...1938...1939—

1940—1941...1942...1943...1944...

1945...1946...1947...1948...1949—

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

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

1960...1961—1962...1963...1964...

1965...1966...1967...1968 ...1969 P..

Farmout-put*

62

6166645951

6155696768

7073828083

8184818887

8689929393

969795102103

106107108112111

114113118120121

Crops

Total 2

73

6977736554

7059817675

7879898388

8589859792

8991959493

969593104103

108106107111108

115111117120121

Feedgrains

62

5663735633

6038676565

6671817478

7582639180

8175797781

868593101106

1099910010895

111110124119123

Hayand

forage

79

6672746964

8266758175

8686939190

9387848483

8992909292

989410110297

103102106106107

112110115114117

Foodgrains

68

7479634745

5554747763

6979837288

929511110792

868510910088

83878212197

11510698102114

117118135141130

Vege-tables

73

7475767380

8175828181

8384899792

94105919794

9689909593

9610298102100

102108106106101

108109112113111

Fruitsandnuts

75

7392757671

9070938496

9399988498

891061019298

98100979899

9910394102104

98102103100101

106108112109131

Cot-ton

120

11313810510578

861011549796

1028810593100

747197122131

82124124134111

1201088993118

116116121125124

12178608982

To-bacco

88

9589588063

76689180110

84738181113

114134122115114

117135130119130

12712696100104

112119134135129

10710911499104

Oilcrops

13

1414131113

2116182229

3437566050

5452556761

7165636371

78929111198

104121122128128

153164170192196

Livestock and products

Total 3

63

6465666761

5963626570

7175849186

8683828085

8892929396

99999799104

102107108111114

111114117118118

Meatani-mals

62

6366677059

5360586371

7276879788

8482817983

8995959498

1031009698106

103107109114117

111116120123122

Dairyprod-ucts

75

7678797978

7879798182

8489929192

9594939093

9392929798

9910110110099

101103104103105

103100999898

Poul-try,andeggs

44

4544444441

4144444548

4954627171

7469686774

7881828487

869495101104

104112112115119

124132138135139

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 seeds and of feed for horses and mules.

2 Includes production of seeds and of feed for horses and mules and certain items not shown separately.s Includes certain items not shown separately.

Source: Department of Agriculture.

27ODigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE C-81.—Farm population, employment, and productivity, 1929—69

Year

1929..

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

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

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

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

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

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

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

1965..1966..1967..1968..1969 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

12,36311,59510,87510,45410,300

As per-cent oftotalpopu-lations

25.1

24.824.825.125.825.5

25.324.824.223.823.5

23.122.621.419.217.9

17.518.017.916.616.2

15.214.213.912.511.7

11.511.110.39.89.4

8.78.17.77.16.7

6.45.95.45.25.1

Farm employment(thousands) s

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

5,6105,2144,9034,7464,582

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

4,1283,8543,6503,5323,429

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

1,8851,890*., 827,780,604

,482,360,253,213,153

Farm output

Perunit oftotalinput

Per man-hour

Total CropsLive-stockand

products

Index, 1957-59=100

63

6369696559

6962737472

7275827982

8285828886

8586899091

949696103101

105106107108107110106108108108

28

2830302827

3129333535

3639424244

4649505657

6162687174

808691103106

115122129138144

156164174182183

28

2730302727

3128333534

3739434144

4650505757

6361676973

778390105105

115118124132135

151154162170168

48

4747474643

4446464850

5051565856

5859616266

6872747680

858992100108

113123130140152

159170183193198

iFarm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian populationliving on farms, regardless of occupation.n farms, regardless o o c u p t i n .

l population of United States as of July 1 including Armed Forces abroad.3 Includes persons doing farm work on all fa Th d t b l i h d b th

S i diff f tho g i c l trms. These data, published by the Department of Agriculture, Statistical

Reporting Service, differ from those on agricultural employment by the Department of Labor (see Table C-22) because ofdifferences in the method of approach, in concepts of employment, and in time of month for which the data are collected.CAA m A nth I if r*iwyt\r+ An " C a r m I «Knr "

f e e c in th m o d of approacSee monthly report on "Farm Labor.

* Computed from variable weights for individual crops produced each year.

Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).


TABLE G-82.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-69

{1957-59=1001

Year or month

Prices received by farmers

AHfarmprod-ucts i

Crops

Allcrops*

Foodgrains

Feed grains" and hay

Total Feedgrains

Cot-ton

To-bacco

Oil-bear-ing

crops

Livestock and products

Aiilive-stockand

prod-ucts i

Meatani-mals

Dairyprod-ucts

Poul-tryandeggs

1929

1930..19311932 .1933193419351936193719381939

19401941194219431944..19451946194719481949

195019511952...1953195419551956195719581959

1960...196119621963 1.1964....1965. . . . . .1966196719681969

1968: Jan 15 . . .Feb 15Mar 15Apr 15May 15June 15

July 15..Aug 15Sept 15O c t l 5 . . . . . . . .Nov 15Dec 15

1969: Jan 1 5 . . . . . . .Feb 15.Mar 15Apr 1 5 . . . . . . .May 15.June 15

July 15Aug 15.Sept 15Octl5_.Novl5Dec 15

61

52362729374547514039

42516680828698

114119103

107125119105102969597

10499

9999

10110098

103110105108114

105107108108108108

108108111108109108

109110112112117117

117115114115118118

61

52342632444649533637

414865848991102118114100

10411912010810810410510110099

100102104107107104106101103100

103103104105108103

100101103102103100

99101102102106103

100999697102

55

44272131434651573534

40465770788195128118103

1061151161111101071061069896

9699107106907787847673

808282797974

717071737573

737474747471

676872747575

74

67463136606865794546

54587296108106127161162112

1221431471301281161151059798

969598104105110114110100105

102104104103104103

9993959398100

102104103105109109

107105104104102103

77

68442836607068844544

54587397109104131171170109

1231471501321301161161059798

94949610210310811210897102

101101101102101

979092909697

9910199

102107107

10610310210199

100

57

40241926393838362728

3243606466699110510494

10812911910210510410310197102

971001041041009482737466

736666657069

708485867870

626466676569

706763706965

35

29201822323533413631

28325166727478777882

8390898991909396100104

103109109102101106114114117123

115116116116116116

117118119116119120

119120120121121121

122125127126125124

62

48321925455552564242

4560808897100114158153106

1201481291221331091111069896

93112108113112116128121115110

117119118118118118

117115111109111112

113114113114115114

114109102102105106

62

52382827324446494341

42536677768294111122106

10813011910497908894106100

9898999591101113107112125

107109110109109111

114113116113113115

116117119120124128

129128127127129133

50

43302019223838423736

35466066626781107117101

1101331159492807689

109102

96971019488104116109112130

106111113113113115

118115114110109111

113118122125136142

138137132130129133

10410611798

9711211810496969910199100

1011019999

100102115119124129

124122120119119117

120124128131132131

130128126124122121

124127131136138137

102

81625147567473706961

627796121312126127141153140

11814413014011312111210210890

10192929290921028490102

848484817885

91921059497

103

10599

1019585

10197104102116126

See footnotes at end of tabie.


TABLE G-82.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-69—Continued[1957-59=100]

Year or month

1929193019311932 .19331934193519361937—19381939 .194019411942—194319441945194619471948 .1949195019511952195319541955195619571958195919601961196219631964196519661967196819691968- Jan 15

Feb 15...Mar 15...Apr 15...May 15..June 15..July 15 .Aug 15...Sept 15..Octl5Nov 15...Dec 15...

1969: Jan 15 .Feb 15...Mar 15...Apr 15...May 15 .June 15..July 15...Aug 15Sept 15..Octl5Nov 15Dec 15...

Prices paid by farmers

Allitems,in-

terest,taxes,andwagerates(parityindex)

5552443837414242454242424552586265718289868796989595949598100102102103105107107110114116121127118119120121121121121121122122123123124125126127128128128127128128129129

Allitems

555144383843454548454445485561646672859288901001009696959698101101101101103104104106109111114119112113113114114114114114115115115116116117118118120120120119120120120121

Fam-i l y

l i v i n gi t e m s

5 45 04 33 73 84 34 34 34 54 34 24 24 55 25 86 16 47 18 38 88 58 69495949495969 9

1 0 01 0 11 0 21021 0 31 0 41051071101131171 2 31 1 51 1 61 1 61 1 71 1 71 1 71 1 81 1 81 1 81 1 91 1 91 1 91 2 01201 2 21 2 21231 2 31 2 31 2 31 2 41 2 4125125

Commodities and service.

AHproduc-tion

items i

565243383844464650474647505763666773859591941041049797969598100102101101103104103105108109111116110111111111112112112111111111112113113114115116117117116116116116117117

Production items

Feed

68614332375253556247475054667887861001181251031051181261141131061031019910098981001041031041091061021031031041031031031021019910099101101102102102103104103103103103102102104

Motorve-

hicles

3635353434363738394240404245475153556371787883878686878996100104102102105109111113117121128133

126

129129

128

130130

132

133133

133

135

F a r mm a -

c h i n -e r y

4343424039404142434443434346484949515867767883868787879296100104107110111113116119124129135142

133

136

138

139

140

143

145

Fer-til-izer

85837566616968646767666464717677797988969894100102103102101100100100100100100100100991001001009794100100100989898989896969696969696949494949493939393

inter-ests

11611310810190807468646058565451464341404243454954596368748391100109120131145162182206231255283315283283283283283283283283283283283283315315315315315315315315315315315315

Taxes3

5657565144383636363837383838373739434856606568717477818793100107117125132139147156165179192206192192192192192192192192192192192192206206206206206206206206206206206206

Wagerates*

323024181517182022222222263445546266727674738187888889929699105109110114116119125135146158174150150150157157157159159159166166166166166166177177177174174174179179179

Parityratio«

92836758647588929378778193105 (113 (108 (109 (113115110100101 (107 (100 (928984838285818079807876778074 (7474737474747373747475737373727373737576757574747676

66)80)9 s ) )9 5 )9 7 )8 3 )

( 8 5 )

98)0 9 )

L 1 6 )1 0 )11)L15IB111

onn?)08)(in9389

84858882(81)(83)83)(81)fan)(8?)f8fi)

(79)(80)(79)(80)(80)(80)(79)(79)797981797979)78)79)79)79)8?)82)(82)(81)(79)(80)(82)82)

1 Includes items not shown separately.2 Interest payable per acre on farm real estate debt.3 Farm real estate taxes payable per acre (levied in preceding year).* Monthly data are seasonally adjusted.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.Source: Department of Agriculture.

273


Year

1929 _

1930...1931193219331934

193519361937_ . .19381939

19401941194219431944

19451946194719481949

1950 .1951195219531954.. .

19551956.195719581959

19601961196219631964

19651966196719681969 P.

TABLE

Cropsharvested(millions

ofacres) i

365

369365371340304

345323347349331

341344348357362

354352355356360

345344349348346

340324324324324v

324303295300301

298295308303294

C-83.—Selected measures of farm resources and inputs, 1929-69

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

9.89.49.08.78.2

7.87.47.37.07.0

Index numbers of inputs (1957-59=100)

Total

98

9796939186

8889949194

9797100101101

999999100101

101104103103102

1021019999102

101101101104104

104107109111112

Farmlabor

218

216220213212190

198192208193194

192188194191190

177170162158152

142143136131125

1201131049997

9288848177

7369686666

Farmreal

estate 2

92

9189868786

8889909192

9292918988

8891929595

97989999100

10099100100100

101101103104106

106107108107107

Me-chani-cal

powerandma-

chinery

38

4038353232

3335384040

4244485051

5458647280

8692969798

999910099101

104101100104102

105110112114115

Ferti-lizerand

limingmaterials

21

2116111214

1720242324

2830343843

4553565761

6873808388

90919497109

111117125141155

162182203214217

Feed,seed, and

live-stockpur-

chases 3

27

2623242424

2331293037

4546576364

7269737269

7280818082

869193101106

109111117123126

127136139143147

Miscel-laneous

76

7678797669

6668687072

7374757676

7677787482

8588889191

949895100105

106109113117120

120123127130134

* Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.2 Includes service buildings and improvements on land.3 Nonfarm portion of feed, seed, and livestock purchases.



TABLE C-84.—Comparative balance sheet of agriculture, 1929-70


Beginning ofyear

1929

19301931193219331934.

19351936193719381939

19401941194219431944

19451946194719481949

1 9 5 0 . . . . . . . . .19511952_.19531954

19551956195719581959

19601961196219631964

1965196619671968 _1969..1970 v

Assets

Total

68.5

52.955.062.973.784.6

94.2103.5116.4127.9134.9

132.5151.5167.0164.3161.2

165.1169.6178.0185.8202.2

203.1204.0212.9221.0229.8

238.5256.0269.9283.4298.0307.1

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

130.2131 7138.0143 8152.1

160.9172.5182.5193.1202.6208.6

Other physical assets

Live-stock i

6.6

6.54.93.63.03.2

3.55.25.15.05.1

5.15.37.19.69.7

9.09.7

11.913.314.4

12.917.119.514.811.7

11.210.611.013.917.7

15.215.616.417.315.8

14.517.518.918.820.1

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

18.619.320.320.221.8

22.221.822.322.724.1

25.527.128.931.132.6

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

7.78.08.89.39.8

9.29.7

10.09.6

10.574.7

House-hold

equip-mentand

furnish-ings

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 08.9

8.68.68.48.79.1

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

9.610.010.310.911.5

U.S.savingsbonds

0.2.4.5

1.12.2

3.44.24.24.44.6

4.74.74.74.64.7

5.05.25.15.15.2

4.74.6*4.54.44.2

4.24.13.93.83.8

2318

Invest-mentin co-opera-tives

0.6

.8

.9

.91.01.1

1.21.41.51.71.9

2.12.32.52.72.9

3.13.33.53.74.0

4.34.75.05.35.7

6.06.57.07.47.8

Claims

Total

68.5

52.955.062.973.784.6

94.2103.5116.4127.9\134.9

132.5151.5167.0164.3161.2

165.1169.6178.0185.8202.2

203.1204.0212.9221.0229.8

238. 5256.0269.9283.4298.0307.1

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

18.921.223.325.527.128.7

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

10.012.5

12.713.414.816.518.1

18.620.422.424.927.529.4

Pro-prie-tors'equi-ties

53.9

42.944.652.463.775.7

85.995.5

107.9118.6173.5

120.1138.4152.3148.?144.3

147.5150.8158.6165.4178.6

178.2177.8184.2189.2194.«

201. (214. ^224./233. (243. J249. C

* Beginning with 1961, horses and mules are excluded.2 Includes all crops held on farms and crops held off farms by farmers as security for Commodity Credit Corporation

loans. The latter on January 1,1969, totaled $1,188 million.



INTERNATIONAL STATISTICSTABLE C-85.—United States balance of payments, 1946-69


Year orquarter

1946 _1947 _.19481949

1950 .1951195219531954

19551956.. .195719581959

I960. .19611962.. .19631964

1965. . .196619671968.1969W

1967:1IIIIIIV

1968:1III I I . - - -I V . . . .

1969:1IIIII P..

Exports of goods and services

Total

14,79219,81916,86115,834

13,89318,86418,12217,07817,889

19,94823,77226,65323,21723,652

27,48828,77030,50632,60137,271

39,39943,36046,18850,59454,275

Mer-chan-dise^

11,76416,09713,26512,213

10,20314,24313,44912,41212,929

14,42417,55619,56216,41416,458

19,65020,10720,77922,25225,478

26,44729,38930,68133,59835,489

Mili-tary

sales

8(8)(8)

1182200161375300302

335402656657747

830829

1,2401,4271,564

Income oninvestments

Pri-vate

7511,0361,2381,297

1,4841,6841,6241,6581,955

2,1702,4682,6122,5382,694

3,0003,5613,9484,1514,930

5,3845,6596,2346,9347,887

Gov-ern-ment

2166

10298

109198204252272

274194205307349

348381471498456

509593638765951

Otherserv-ices

2,2562,6202,2562,226

2,0972,7392,8452,5642,551

2,8803,3933,8993,6583,849

4,1554,3184,6515, 0435,659

6,2306,8917,3947,8718,384

Imports of goods and services

Total

- 6 , 9 8 5—8,202

—10,343—9,616

—12,001—15,047—15,766—16,546- 1 5 , 9 3 0

- 1 7 , 7 9 5—19,627—20,752—20,861- 2 3 , 3 4 2

—23,355—23,148—25,357- 2 6 , 6 1 7- 2 8 , 6 9 1

—32,278—38,081- 4 1 , 0 1 1—48,078—52,405

Mer-chan-dise i

- 5 , 0 6 7—5,973—7,557—6,874

—9,081—11,176—10,838- 1 0 , 9 7 5—10,353

—11,527—12,803—13,291—12,952—15,310

—14,744—14,519—16,218—17,011—18,647

—21,496—25,463—26,821—32,972—35,193

Mili-taryex-

pend-itures

- 4 9 3--455—799—621

—576—1,270—2,054—2,615—2,642

—2,901—2,949—3,216—3,435- 3 , 1 0 7

—3,087- 2 , 9 9 8—3,105—2,961—2,880

—2,952—3,764—4,378—4,530—4,813

Otherserv-ices

—1,425—1,774—1,987—2,121

—2,344—2,601—2,874—2,956—2,935

—3,367—3,875- 4 , 2 4 5—4,474- 4 , 9 2 5

—5,523—5,631- 6 , 0 3 5- 6 , 6 4 7—7,164

—7,831—8,854—9,813

—10,577—12,399

Bal-anceon

goodsand

serv-ices

7,80711,6176,5186,218

1,8923,8172,356

5321,959

2,1534,1455,9012,356

310

4,1335,6225,1495,9848,580

7,1215,2795,1772,5161,869

Remit-tances

andpen-sions

- 6 4 8—728—631—641

- 5 3 3—480—571—644—633

- 5 9 7—690—729—745—815

—596—632- 6 9 5—798—809

—950—923

—1,196—1,159—1,152


45,84445,93646,30846,668

47,73650,67253,37650,612

47,65256,98058,192

30,75230,89230,67630,404

31,76433,58035,51633,532

29,87638,35238,240

1,3321,340

9561,328

1,2201,4121,6241,456

1,6721,3361,684

5,8245,6806,5966,836

6,2487,0727,3127,108

7,5447,6728,444

624640608680

836820848560

936932984

7,3127,3847,4727,420

7,6687,7888,0767,956

7,6248,6888,840

—40,400—40,132- 4 0 , 6 9 2—42,824

- 4 5 , 8 5 2—47,308- 4 9 , 7 4 0—49,408

—46,200—55,768—55,248

—26,640—25,860—26,168—28,616

—31,268—32,524—34,264—33,832

—30,288—38,364—36,928

—4,340- 4 , 3 0 0—4,424—4,448

—4,408—4,464—4,572- 4 , 6 7 6

—4,816- 4 , 8 3 2—4,792

—9,420—9,972

- 1 0 , 1 0 0—9,760

—10,176—10,320—10,904—10,900

—11,096- 1 2 , 5 7 2—13,528

5,4445,8045,6163,844

1,8843,3643,6361,204

1,4521,2122,944

—944—1,464- 1 , 3 6 0—1,012

—1,104—1,096- 1 , 3 0 0—1,140

—1,084—1,144—1,228



TABLE C-85.—United States balance of payments, 1946-69— Continued


Year orquarter

U.S.Gov-ern-ment

grantsand

capi-tal,net 2

U.S. private capital,net

Directinvest-ment

Otherlong-term

Short-term

For-eigncapi-tal,net 2

Errorsand

omis-sions

Balance

Li-quiditybasis s

Offi-cial

reservetrans-actionsbasis *

Changes in selected lia-bilities (decrease ( - ) ) «

To foreignofficial holders•

Liquid Non-liquid

Toother

foreignhold-ers?

Changesin gold,convert-ible cur-rencies,

andIMFgold

trancheposition

(increase()

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

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

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

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

1965..1966196719681969 10

1967: L —II.._I I I . .IV...

1968: l.._.I I . . .I I L .IV...

1969: L._-II....Ill p.

-5,293-6,121-4,918-5,649

-3,640-3,191-2,380-2,055-1,554

-2,211-2,362-2,574-2,587-1,986

-2,768-2,779-3,013-3,578-3,564

-3,406-3,444-4,223•3,955-4,000

-230-749-721-660

-621-508-852-735-667

-1,951-2,442-1,181-1,372

-1,674-1,598-1,654-1,976-2,328

-3,468-3,639-3,154-3,025-4,107

127- 4 9- 6 9

-495-437-214

185-320

-241-603-859

-1,444-926

-855-1,025-1,227-1,698-2,103

-1,079-256

-1,292-1,082-1,505

-310-189-116

187

-149-103- 9 4167

-635

-191-517-276-311- 7 7

-1,349-1,556

-546- 7 8 5

-2,147

753-415

-1,209-1,049

-623

- 6 1 5-432-361

44

18154052

146249

297615545186736

364702

1,026690689

2702,5313,3608,5653,039

155861

1,115717

-12435449722060

371390

1,012361260

-1,156-1,103-1,246-509

-1,118

-576-489

-1,007-642

-4,319

9934,210

817136

-3,489- 8

-1,206-2,184-1 ,541

-1,242-973

578-3,365-3,870

-3 ,901-2 ,371-2 ,204-2 ,670-2 ,800

-1 ,335-1,357-3 ,544

168-10,795

-3,403-1,347-2,702-2,011-1,564

-1,289266

-3,4181,6381,949

«1,4489 681M571,6731,075

- 1 8-1 ,595

2,020-3 ,099

250- 3 9318

85761

1,3462,341

3081,084

214620

1,554

1312,3841,4723,811

- 6 2 3-3 ,315-1,736

-266

1,758- 3 3

-4151,256

480

182-869

-1 ,1652,2921,035

2,145606

1,533377171

1 22256852

Seasonally adjusted annual rates Quarterly totals unadjusted

-4,436-3,996•4,168-4,288

-4,388-4,220-3,872-3,340

-3,172-4,620-4,208

-2,868-2,132-3,788-3,824

-U-4,036-5,048-1,132

-3,712-4,228-4,380

-552-1,004-2,068-1,544

-548-588-916

-2,280

-1,024-1,708-1,784

-852-920

-1,244-1,820

-788-1,524-1,508-376

-628-2,072

832

3,4684,8843,1681,924

6,22010,0687,22010,752

6,5321,4201,164

-1,232-2,496

-276-24 .

-1,640-1,9201,236-240

-5,040-4,352-3,564

-1 ,980-1 ,320-4 ,124-6,752

-2,25636

-5563,448

-6 ,680-15,484-10,220

-6,844-2,876-284

-3,668

-1,5166,212

3881,468

4,5764,944

-3,672

-80540260

1,300

1,3582,190-38487

1,708-5432,239

332589135290

363777537664

45-360-515

-70990

1,331760

7212,2221,017-149

3,0314,6541,370

1,027-419- 3 7 5- 1 8 1

904-137- 5 7 1

-1 ,076

- 4 8-299-686

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.« Includes short-term official and banking liabilities, foreign holdings of U.S. Government bonds and notes, and certain

nonliquid liabilities to foreign official holders.« Central banks, governments, and U.S. liabilities to the IMF arising from reversible gold sales to, and gold deposits with,

the United States.7 Private holders; includes banks and international and regional organizations; excludes IMF.s Not reported separately.• Includes change in Treasury liabilities to certain foreign military agencies; excluding these changes, data ($ millions)

are 1,258 (1960), 741 (1961), 918 (1962).10 Average of 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.



TABLE C-86.—-United States merchandise exports and imports, by commodity groups, 1958-69


Year or quarter

Merchandise exports *

Total, includ-ing reexports 2

Sea-sonally

ad-justed

Unad-justed

Domestic exports

Total 2s

Food,bever-ages,

and to-bacco

Crudemate-rialsand

fuels «

Man-ufac-tured

goods«

Merchandise imports

General imports *

Total*

Sea-sonally

ad-justed

Unad-justed

Food,bever-ages,

and to-bacco

Crudemate-rialsand

fuels«

Man-ufac-tured

goods8

Grossmer-chan-dise

tradesur-plus,sea-

sonallyad-

justed7

1959.

I960- . .1961—.196219631964—.

19651966—19671968

1967: 1 --IIillIV . .

1968: 111IllIV

19698:1IIIII..IV

7,7797,7837,7727,772

8,0288,4659,0198,581

7,5869,8599,8829,975

16,375 16,21116,426 j 16,24319,659 19,45920,226 19,98220,986 20,71722,467 22,18225,832 25,479

26,751 26,40829,490 29,05431,030 30,64634.063 33,62637,314 36,770

7,7138,0127,2818,024

8,0228,7048,4258,911

7,56810,1509,27610,348

7,6187,9127,1847,933

7,9228,5968,3178,792

7,45110,0099,137

10,201

2,6882,852

3,167I 3,466

3,7434,1884,637

4,5205,1864,7104,5924,446

1,1271,1571,1311,295

1,1951,0901,1221,185

6991,2561,1481,342

3,052 11,5472,996 11,179

3,942 12,5833,864 12,7843,356 13,6683,775 14,2974,337 16,529

4,275 17,4394,404 19,2184,726 20,8444,864 23,8195,008 26,764

1,1601,2081,1231,235

1,1801,2171,1741,293

8781,3891,2381,508

5,2295,4764,8365,303

5,4656,1825,9556,217

5,7747,2646,6137,135

6,7186,5256,6057,157

7,8678,1518,5488,527

7,6549,6419,3029,443

13,39215,690

15,07314,76116,46417,20718,749

21,42925,61826,88933,22636,052

6,6366,6066,4227,226

7,7648,2568,4578,750

7,4209,7879,1959,667

3,5503,580

3,3923,4553,6743,8634,022

4,0134,5904,7015,3655,309

1,2131,1251,1001,264

1,2571,3081,4301,369

1,0131,4781,3311,487

4,1644,615

4,4184,3344,6914,7555,029

5,4405,7185,3676,0316,391

1,3961,3481,2601,363

1,4431,4631,5701,555

1,4791,6411,5831,692

5,3117,117

6,8636,5377,6498,0709,106

11,24514,44615,75620,62423,021

3,8143,8583,7904,293

4,8045,1805,1425,499

4,6556,3285,9316,074

2,983736

4,5865,4654,5225,2607,083

5,3223,8724,141837

1,262

1,0611,2581,167615

16131447154

-68218580532

1 Beginning I960, data have been adjusted for comparability with the revised commodity classifications effective in 1965.2Totals 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.* Total includes commodities and transactions not classified according to kind.6 Includes fats and oils.s 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.s Quarterly data have not been revised and therefore do not add up to annual totals, which are based on more recent

data.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately

prior to 1969. Export statistics cover all merchandise shipped from the U.S. customs area, except supplies for U.S. ArmedForces. Export values are f.a.s. port of export and include shipments under Agency for International Development andFood for Peace programs as well as other private relief shipments. Import values are defined generally as the marketvalue in the foreign country, excluding the U.S. import duty and transportation costs such as ocean freight andmarine insurance.

Source: Department of Commerce, Bureau of International Commerce.


TABLE C-87.—United States merchandise exports and imports, by area, 1963-69


Area 1963 1964 1965 1966 1967 1968 1969 9

Exports (including reexports andspecial category shipments):Total _..

Developed countriesDeveloping countries

CanadaOther Western Hemisphere.Western Europe iEastern EuropeAsiaAustralia and OceaniaAfrica -

General imports: Total.

Developed countriesDeveloping countries

CanadaOther Western Hemisphere.Western Europe iEastern EuropeAsiaAustralia and OceaniaAfricaUnidentified countries2

23,387

15,1648,057

4,2613,6928,198167

5,450565

1,054

17,207

10,8326,283

3,8514,0634,731

813,1925047787

26,650

17,3438,967

4,9214,2939,222340

5,811804

1,259

18,749

11,9246,711

4,2654,1855,209

993,62044291712

27,530

18,3669,023

5,6584,2759,257140

6,015956

1,229

21,429

14,1017,174

4,8584,3996,155

1374,52845588314

30,430

20,12010,112

6,6794,7699,891

1986,740805

1,348

25,618

17,6327,795

6,1524,7377,679179

5,2775969926

31,622

21,4679,960

7,1724,71810,187

1957,1501,0181,182

26,889

18,9937,709

7,1404,6628,052

1775,3495839206

34,636

23,60010,821

8,0725,33911,132

2157,5821,0261,270

33,226

24,1308,886

9,0055,14310,139

1986,911697

1,12211

37,988

26,45811,281

9,1385,57612,370

2498,265998

1,392

36,052

26,4659,377

10,3905,16510,140

1968.276828

1,04512

1 Includes Finland, Yugoslavia, Greece, and Turkey.2 Consists of certain low-valued shipments not identified by country.Note.—Developed countries include Canada, Western Europe, Japan, Australia, New Zealand, and the Republic of

South 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.

279


TABLE C-88.—United States overseas loans and grants, by type and[Millions of dollars]

Type of program and fiscalperiod

Total economic loans and grants(net obligations and loanauthorizations):»

1962-68 averageLoansGrants

1969LoansGrants

Economic loans and grants toless developed countries, byprogram:2

Net obligations and loanauthorizations:

1962-68 average1969

Repayments and interest:1962-68 average1969

Agency for internationalDevelopment:

Net obligations and loanauthorizations:

1962-68 average1969 . -


Export-Import Bank long-termloans:

Loan authorizations:1962-68 average1969

Repayments and interest:1962-68 average - --1969

Food for Peace:

Obligations:1962-68 average1969


Contributions and Subscriptionsto International Lending Or-ganizations:3

Obligations:1962-68 average1969

Peace Corps and other:4

Obligations:1962-68 average . . .1969


Total

4,7342,5452,189

3,9362,0231,912

4,5263,687

7191,080

2,2391,449

207301

404537

383546

1,3891,212

107198

267320

228170

2234

NearEastand

SouthAsia

1,5341,154

380

781604178

1,534781

260414

718285

114163

9368

74113

710416

68133

1312

54

LatinAmerica

1,191771420

1,022555467

1,1911,022

290411

548290

2449

196289

245317

162115

1120

181300

10428

1025

Vietnam

361*

362

358*

358

361358

105

282259

105

7999

*

EastAsia

520197323

774498275

449665

5573

227200

2231

2740

2528

160397

514

3529

31

area, fiscal years.

Africa

388172216

326143183

388326

3158

196108

1824

3058

1024

140139

210

2222

1

Europe

258216

42

16315211

14683

67113

2*

1727

5881

2964

872

2222

1962-69

Otherand

non-regional

48235

447

51372

441

457453

6

268308

31

5045

862C

548C

3A

1 Some data are preliminary.2 Countries have been classified "less developed" on the basis of the standard list of less developed countries used

by 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, Canada, and all of Europe exceptMalta, Spain and Yugoslavia.

3 Includes capital subscriptions and contributions to the inter-American Development Bank, the International Develop-ment Association, and the Asian Development Bank.

* Data for certain programs from Department of Commerce (Office of Business Economics).Source: Agency for International Development (except as noted).


TABLE C-89.—International reserves, 1949, 1953, and 1964-69

[Millions of dollars; end of period]

Area and country

All countries

Developed areas

United States

United Kingdom

Other Western EuropeAustria.BelgiumFranceGermany.ItalyNetherlandsScandinavian coun-

tries (Denmark,Finland, Norway,and Sweden)

Spain-.:SwitzerlandOther 2

Canada.

Japan

Australia, New Zealand,and South Africa

Less developed areas 3

Latin AmericaMiddle EastOther Asia..Other Africa

1949

45,635

37,245

26,024

1,752

6,45592978580196

34

537

&

1,222

1,197

0)1,587

8,390

2,7751,4753,3954 290

1953

51,780

41,375

23,458

2,670

10,500325

1,144829

1,773768

1,232

1,026150

1,7681,484

1,902

1,953

10,405

3,4001,2003,8401,800

1964

68,740

59,015

16,672

2,316

32,3501,3172,2225,7247,8823,8242,349

2,3801,5133,1202,017

2,881

2,019

2,777

9,725

2,8552,3203,0701,415

1965

70,520

59,540

15,450

3,004

33,6651,3112,3346,3437,4294,8002,416

2,3281,4093,2442,052

3,027

2,152

2,245

10,980

3,2802,6753,3951,570

1966

71,980

60,330

14,882

3,100

35,0401,3332,3506,7338,0284,9112,448

2,3411,2053,3242,368

2,693

2,119

2,494

11,655

3,1802,8453,8401,725

1967

73,600

61,145

14,830

2,695

36,5401,4842,5906,9948,1525,4632,619

2,2361,0493,5552,396

2,709

2,030

2,341

12,460

3,4653,1953,9751,755

1968

76,565

62,940

15,710

2,422

35,7801,5102,1874,2019,9485,3422,463

2,3201,0953,9322,780

3,041

2,906

3,083

13,625

3,9503,2304,1102,160

1969 v

Sep-tember

79,615

64,925

16,743

2,434

36,4501,4452,1764,00612,1785,3702,365

1,734981

3,2182,977

2,949

3,299

3,052

14,685

4,1753,1004,6552,580

Decem-ber

16,964

2,527

1,5372,3863.8337,1345,0052,529

2,216833

3,995

3,100

3,654

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, and Cuba (after 1960).

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."

2 8 l


TABLE G—90.—United States reserve assets: Gold stock, holdings of convertible foreign currencies,and reserve position in the International Monetary Fund, 1946-69


End of year or month Total reserveassets

Gold stock i

Total 2 Treasury

Convertibleforeign

currencies 3

Reserveposition in

InternationalMonetary Fund*

1946194719481949

195019511952.19531954

195519561957. . . . . .19581959

196019611962 -19631964

19651966196719681969

1968: Jan..Feb.Mar.Apr.May.June.

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

1969:Jan...Feb..Mar..A p r -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

15,45014,88214,83015,71016,964

14,62014,79013,92613,84014,34814,063

14,36614,42714,63414,42715,66015,710

15,45415,49915,75815,94816,07016,057

15,93616,19516,74316,31616,00016,964

20,70622,86824,39924,553

22,82022,87323,25222,09121,793

21,75322,05822,85720,58219,507

17,80416,94716,05715,59615,471

U3,80613,23512,06510,89211,859

12,00311,90010,70310,54710,46810,681

10,67610,68110,75510,78810,89710,892

10,82810,80110,83610,93611,15311,153

11,14411,15411,16411,19011,17111,859

20,52922,75424,24424,427

22,70622,69523,18722,03021,713

21,69021,94922,78120,53419,456

17,76716,88915,97815,51315,388

5 13,73313,15911,98210,36710,367

11,98411,88210,48410,48410,38410,367

10,36710,36710,36710,36710 36710,367

10,36710,36710,36710,36710,36710,367

10,36710,36710,36710,36710,36710,367

11699212432

7811,3212,3453,5282,781

2,1762 2352,7462,8043,3862,479

2,7732,8172,9532,7033,6553,528

3,3383,3993,6013,6243,4743,355

3,1663,3993,7973,3412,8652,781

1,1531,3591,461

1,4451,4261,4621,3671,185

1,0441,6081,9751,9581,997

1,5551,6901,0641,035

769

»863326420

1,2902,324

441655477489494903

917929926936

1,1081,290

1,2881,2991,3211,3881,4431,549

1,6261,6421,7821,7851,9642,324

* Includes gold sojd to the United States by the International Monetary Fund with the right of repurchase whichamounted to $800 million on December 31,1969. Beginning September 1965 also includes gold deposited by the IMF tomitigate the impact on the U.S. gold stock of purchases by foreign countries for gold subscriptions on increased IMFquotas. Amount outstanding was $219 million on December 31,1969. The United States has a corresponding gold liabilityto the IMF.

2 Includes gold in Exchange Stabilization Fund.* 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 U.S.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.

282


TABLE C-91.—Price changes in international trade, 1961-69

11963=1001

Area or commodity class 1961 1962 1963 1964 1965 1966 1967 1968

1969

Thirdquarter

Developed areas

Total:ExportsTerms of trade i .

United States *ExportsTerms of trade 1.

Developing areas

Total:ExportsTerms of trade i-

Latin AmericaExportsTerms of trade *.

Southern and Eastern Asia •ExportsTerms of trade i-

Primary commodities: Total.,

Foodstuffs

Coffee, tea, and cocoa..Cereals

Other agricultural commodities6

Fats, oils, and oilseeds..Textile fibers

WoolRubber

MineralsMetal ores..

Manufactured goods: Total f i...

Nonferrous base metals5..

10199

100100

103104

97

92

9994

102

1029384

115

100102

99

102

Unit value indexes by area

99100

100101

9798

9592

100102

100100

100100

100100

100100

100100

102100

10199

103102

107105

10099

103100

104101

103100

107102

10199

105100

107101

104102

108105

101100

105101

110102

103101

107103

9999

104101

111102

104102

108101

98100

World export price Indexes»

96

94

9699

97

949184107

9910099

100

100

100

100100

100

iiii

100100

100

100

103

105

121103

102

10410210395

102108

101

119

103

103

11199

103

114928697

104114

103

135

104

105

113104

104

111929091

104105

106

156

101

104

111106

96

102887775

103109

107

142

100

102

111102

96

100887473

102108

106

150

108102

115103

107104

3 1093 102

3 1013102

105

106

118100

102

998776

107

105119

109

173

1 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 1969.* Excludes Japan.5 Data for manufactured goods are unit value indexes.• 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).


TABLE C—92.—Consumer price indexes in the United States and other major industrial countries,1957-69

Period

195719581959

19601961 _ . .19621963 .1 9 6 4 . . . .

196519661967196819691

1966: 1IIIllIV

1967: 1||_IllIV

1968: LIIIIIIV

1969: 1| |IllIV 2

UnitedStates

91.894.495.1

96.697.798.8

100.0101.3

103.0106.0109.0113.6119.7

104 5105.6106.6107.4

107.6108.4109.5110.4

111.6112.8114.2115.6

116.9119.0120 7122.3

Canada

91.794.195.1

96.297.198.3

100.0101.8

104.3108.2112.0116.7121.7

106 7107.9108.9109.5

109.9111.5113.2113.6

115.0116 0117.3118.5

119.4121.6123 0123.5

[1SC3-

Japan

79.378.979.8

82.687.093.0

100.0103.9

110.7116.412L.0127.5133.8

114 9116.4116.5117.6

119.8119.7120.2124.1

126.2126.4127.4129.8

130.4132.8135.8137.3

=100]

France

69.680.185.0

88.191.095.4

100.0103.4

106.0108.9111.8116.9123.7

107.7108.5109.2109.8

110.8111.2111.9113.5

115.1115.8117.2119.6

121 6123.2124.6126.3

Germany

88.190.090.9

92.194.397.1

100.0102.3

105.8109.5111.1113.1115.9

108.5109.8109.6110.1

110.9111.5111.2110.8

112.8113.0112.9113.8

115.4115.9116 0116.8

Italy

83.285.585.1

87.188.993.1

100.0105.9

110.7113.3116.9118.5121.0

112.7113.0113.3114.2

115.9116.6117.5117.9

118.2118.5118.3118.8

119.7120.9122 3

Nether-lands

889091

949597

100106

111117121126135

116120118118

120121122123

124126126128

134136135137

UnitedKingdom

86 989.590.0

90.994.098.0

100 0103.3

108.2112.4115.2120.6127.0

110 4112.5112.9113.8

114. 4115.4114.8116.2

117.8120.6121.3122.7

125.2127.2127.4128.7

1 Except for the United States, averages are for January-September for Italy; and January-November for all other coun-tries.

2 October-November average for all countries other than the United States.

Sources: Department of Labor and Organization for Economic Cooperation and Development.


Documents

ERP1970 Appendixes 3