ERP1972 Appendixes 2

Appendix B

STATISTICAL TABLES RELATING TO INCOME,

EMPLOYMENT, AND PRODUCTION

451-688 0—72 13189

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


CONTENTSNational income or expenditure: Page

B-l . Gross national product or expenditure, 1929-71 195B-2. Gross national product or expenditure in 1958 dollars, 1929-71 196B-3. Implicit price deflators for gross national product, 1929-71 198B-4. Gross national product by major type of product, 1929-71 200B-5. Gross national product by major type of product in 1958 dollars,

1929-71 , 201B-6. Gross national product: Receipts and expenditures by major economic

groups, 1929-71 202B-7. Gross national product by sector, 1929-71 204B-8. Gross national product by sector in 1958 dollars, 1929-71 205B-9. Gross national product by industry in 1958 dollars, 1947-70 206B-10. Personal consumption expenditures, 1929-71 207B-l 1. Gross private domestic investment, 1929-71 208B-12. National income by type of income, 1929-71 209B-l 3. Relation of gross national product and national income, 1929 -71 . . . . 210B-l4 . Relation of national income and personal income, 1929-71 211B-15. Disposition of personal income, 1929-71 212B-l6. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1958 dollars, 1929-71 213B-17. Sources of personal income, 1929-71 214B-18. Sources and uses of gross saving, 1929-71 216B-19. Saving by individuals, 1946-71 217B-20. Number and money income (in 1970 dollars) of families and unrelated

individuals, by race of head, 1947-70 218

Population, employment, wages, and productivity:B-21. Population by age groups, 1929-71 219B-22. Noninstitutional population and the labor force, 1929-71 220B-23. Civilian employment and unemployment, by sex and age, 1947-71. . 222B-24. Selected unemployment rates, 1948-71 223B-25. Unemployment by duration, 1947-71 224B-26. Unemployment insurance programs, selected data, 1940-71 225B-27. Wage and salary workers in nonagricultural establishments, 1929-71. 226B-28. Average weekly hours of work in private nonagricultural industries,

1929-71 228B—29. Average gross hourly earnings in private nonagricultural industries

and in agriculture, 1929-71 229B-30. Average gross weekly earnings in private nonagricultural industries,

1929-71 230B-31. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-71 231B-32. Average weekly earnings, gross and spendable, total private non-

agricultural industries, in current and 1967 dollars, 1947-71 232B-33. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1967 dollars, 1939-71 233B-34. Indexes of output per man-hour and related data, private economy,

1947-71. 234

191


Production and business activity: PageB-35. Industrial production indexes, major industry divisions, 1929-71 235B-36. Industrial production indexes, market groupings, 1947-71 236B-37. Industrial production indexes, selected manufactures, 1947-71 237B-38. Manufacturing output, capacity, and utilization rate, 1948-71 238B-39. Business expenditures for new plant and equipment, 1947-72 239B-40. New construction activity, 1929-71 240B—41. New housing starts and applications for financing, 1929-71 242B-42. Sales and inventories in manufacturing and trade, 1947-71 244B-43. Manufacturers' shipments and inventories, 1947-71 245B-44. Manufacturers' new and unfilled orders, 1947-71 246

Prices:B-45. Consumer price indexes, by major groups, 1929-71 247B-46. Consumer price indexes, by special groups, 1935—71 248B—47. Consumer price indexes, selected commodities and services, 1935—71. . 249B—48. Wholesale price indexes, by major commodity groups, 1929—71 250B-49. Wholesale price indexes, by stage of processing, 1947-71 252B-50. Percentage changes from previous month in indexes for major

groupings of the consumer price index, 1968-71 254B-51. Percentage changes from previous month in indexes for major

groupings of the wholesale price index, 1968-71 255

Money stock, credit, and finance:B-52. Money stock measures, 1947-71 256B-53. Bank loans and investments, 1930-71 257B-54. Total funds raised in credit markets by nonfinancial sectors, 1963-71. . 258B-55. Selected liquid assets held by the public, 1946-71 260B-56. Federal Reserve Bank credit and member bank reserves, 1929-71 261B-57. Bond yields and interest rates, 1929-71 262B—58. Short- and inter mediate-term consumer credit outstanding, 1929—71. . 264B-59. Instalment credit extended and repaid, 1946-71 265B—60. Mortgage debt outstanding, by type of property and of financing,

1939-71 266B-61. Mortgage debt outstanding, by lender, 1939-71 267B-62. Net public and private debt, 1929-70 268

Government finance:B-63. Federal budget receipts and outlays, 1929-73 269B-64. Federal budget receipts, outlays, financing, and debt, 1962-73 270B-65. Relation of the Federal budget to the Federal sector of the national

income and product accounts, 1970—73 272B-66. Receipts and expenditures of the Federal Government sector of the

national income and product accounts, 1948-73 273B-67. Public debt securities by kind of obligation, 1946-71 274B-68. Estimated ownership of public debt securities, 1939-71 275B-69. Average length and maturity distribution of marketable interest-

bearing public debt, 1946-71 276B-70. Receipts and expenditures of the government sector of the national

income and product accounts, 1929-71 277B-71. Receipts and expenditures of the State and local government sector of

the national income and product accounts, 1946-71 278B-72. State and local government revenues and expenditures, selected fiscal

years, 1927-70 279

192


Corporate profits and finance: Page

B-73. Profits before and after taxes, all private corporations, 1929-71 280B-74. Sales, profits, and stockholders' equity, all manufacturing corpora-

tions (except newspapers), 1947-71 281B-75. Relation of profits after taxes to stockholders' equity and to sales, all

manufacturing corporations (except newspapers), by industry group,1950-71 282

B-76. Sources and uses of funds, nonfarm nonfinancial corporate business,1960-70 284

B-77. Current assets and liabilities of U.S. corporations, 1939-71 285B-78. State and municipal and corporate securities offered, 1934-71 286B-79. Common stock prices, earnings, and yields, and stock market credit,

1939-71 287B-80. Business formation and business failures, 1929-71 288

Agriculture:

B—81. Income of farm people and farmers, 1929-71 289B-82. Farm production indexes, 1929-71 290B-83. Farm population, employment, and productivity, 1929-71 291B-84. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-71 292B-85. Selected measures of farm resources and inputs, 1929-71 294B-86. Comparative balance sheet of the farming sector, 1929-72 295

International statistics:

B-87. U.S. balance of payments, 1946-71 296B-88. U.S. merchandise exports and imports, by commodity groups,

1958-71 298B-89. U.S. merchandise exports and imports, by area, 1965-71 299B-90. U.S. overseas loans and grants, by type and area, fiscal years,

1962-71 300B-91. International reserves, 1949, 1953, and 1966-71 301B-92. U.S. reserve assets, 1946-71 302B-93. Price changes in international trade, 1963-71 303B-94. Consumer price indexes in the United States and other major in-

dustrial countries, 1957-71 304

General Notes

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

Symbols used:» Preliminary.. . Not available (also, not applicable).

193



NATIONAL INCOME OR EXPENDITURETABLE B-l.—Gross national product or expenditure, 1929-71

[Billions of dollars]

Year or quarter

1970: I . .I I .IllIV.

1971: 1 . .ILIIIIV

Totalgross

nationalproduct

103.1

90.475.858.055.665.172.282.590.484.790.5

284.8328.4345.5364.6364.8398.0419.2441.1447.34817

503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1

974.11,046.8

Per-sonalcon-

sump-tion

expend-itures i

77.2

69.960.548.645.851.355.761.966.563.966.8

99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6

615.8662.2

Grossprivate

do-mesticinvest-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

54.159.351.952.651.767.470.067.960.975.3

74.871.783.087.194.0

108.1121.4116.6126.0137.8

135.3150.8

Netexports

of goodsandserv-ices)

1.1

1.0

!4.4.6.1.1.3

1.31.1

1.71.3.0

- 2 . 0- 1 . 8- . 67.5

11.56.46.1

1.83.72.2.4

1.82.04.05.72.2

4.05.65.15.98.56.95.35.22.52.0

3.6.7

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

99.6107.6117.1122.5128.7137.0156.8180.1199.6209.7

219.4233.1

Federal

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

53.557.463.464.265.266.977.890.798.899.2

97.297.6

NationaldefenseJ Other

1.2

2.213.849.479.787.473.514.79.1

10.713.3

14.133.645.948.741.238.640.344.245.946.0

44.947.851.650.850.050.160.772.478.378.4

75.471.4

1.3

1.41.51.52.03.02.94.94.75.4

3.9

3.83.12.51.41.6.7

2.53.55.86.8

4.34.15.98.46.25.55.35.37.77.6

8.69.6

11.813.515.216.817.118.420.520.7

21.926.2

Seasonally adjusted annual rates

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

46.150.253.758.263.570.179.089.4

100.8110.6

122.2135.4

956.0968.5983.5988.4

1,020.81, 040.01,053.41,073.0

604.0613.8620.9624.7

644.9657.4668.8677.7

131.2134.1138.6137.3

143.3152.9150.8156.5

3.54.24.02.7

4.7.1.0

- 2 . 0

217.3216.5220.1223.7

227.9229.6233.8240.9

100.296.896.195.9

96.496.097.6

100.6

78.975.174.273.2

72.671.470.271.5

21.321.621.922.7

23.724.627.429.2

117.1119. 7124.0127.9

131.6133.6136.2140.3

1 See Table B-10 for detailed components.2 See Table B-ll for detailed components.»See Table B-6 for exports and imports separately.* Net of Government sales.8 This category corresponds closely to the national defense classification in the "Budget of the United States Govern-

ment for the Fiscal Year ending June 30,1973."

Source: Department of Commerce, Bureau of Economic Analysis.

195


TABLE B-2.—Gross national product or expenditure in 1958 dollars, 1929-71

[Billions of 1958 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..

I960..1961..1962..1963..1964..1965..1966..1967.1968..1969..

1970..1971»

1970: I . . .I I . . .

1971: I—II . .111..IV*.

Totalgrossna-

tionalprod-

uct

203.6

183.5169.3144.2141.5154.3169.5193.0203.2192.9209.4

227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1

355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9

487.7497.2529.8551.0581.1617.8658.1675.2706.6724.7

720.0739.5

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

316.1322.5338.4353.3373.7397.7418.1430.1452.7469.3

475.9491.9

Dura-ble

goods

16.3

12.911.28.48.39.4

11.714.515.112.214.5

16.719.111.710.29.4

10.-620.524.726.328.4

34.731.530.835.335.443.241.041.537.943.7

44.943.949.253.759.066.671.772.981.384.8

81.489.3

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.?170.3178.6187.0190.2197.1202.7

207.3211.6

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

121.6125.6131.1137.4144.4152.5159.4167.0174.4181.8

Gross private domestic investment

Total

40.4

27.416.84.75.39.4

Total

36.9

28.019.210.99.7

12.118.0 i 15.624.0 i 20.929.917.024.7

33.041.621.412.714.019.652.351.5

24.519.423.5

28.132.017.312.915.922.642.351.7

60. 4 55.948. 0 51. 9

69.370.060.561.259.475.474.368.860.973.6

72.469.079.482.587.899.2

109.3101.2105.2109.6

187.2 102.2 99.9191.0 107.9 105.9

61.059.057.260.261.469.069.567.662.468.8

68.967.073.476.781.990.195.493.598.8

103.2

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

47.145.549.751.957.866.374.173.275.680.1

78.678.8

Struc-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

17.417.417.917.919.122.324.022.623.424.5

24.222.4

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

29.628.131.734.038.744.050.150.652.255.7

54.456.5

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

23.519.518.919.621.725.122.220.220.824.7

21.921.623.824.824.223.821.320.423.223.1

21.327.0


Changein busi-

nessinven-tories

3.5

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

2.43.15.5

- 2 . 41.2

4.99.64.0

- . 2- 1 . 9- 2 . 910.0- . 24.6

- 3 . 9

8.310.93.3.9

- 2 . 06.44.81.2

- 1 . 54.8

3.52.06.05.85.89.0

13.97.76.46.4

2.32.0

719.8721.1723.3715.9

729.7735.8740.7751.7

474.4477.1477.9474.2

484.8489.4494.3499.2

82.383.882.876.6

85.987.891.292.4

205.7206.5207.3209.7

210.0211.5211.6213.4

186.4186.8187.9187.9

188.9190.1191.4193.4

101.0102.7104.0101.2

104.3110.0106.7110.4

100.7100.7100.198.1

101.8105.9107.2108.6

79.379.480.175.5

77.779.178.979.6

24.624.424.223.5

22.622.922.121.8

54.755.055.952.0

55.056.256.857.8

21.421.320.022.6

24.126.728.328.9

0.32.03.93.1

2.54.1

- . 51.9

See footnotes at end of table.

196


TABLE B-2.—Gross national product or expenditure in 1958 dollars, 1929-71—Continued


Year or quarter

1929

1930193119321933193419351936 . . .193719381939

1940194119421943194419451946194719481949 -. .

1950195119521953195419551956195719581959

19601961196219631964 . .19651966196719681969

19701971 v

1970- 1IIIIIIV . .

1971: 1IIIIIIV v __

Net exports of goods and services

Netexports

1.5

1.4.96

.0

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

2.14

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

8 412.36 16 4

2.75 33 01.13.03.25.06 22 2.3

4 35.14 55.68.36.24.23.61.0.1

2.4.5

Exports

11.8

10 48.97 17 17.37 78 29.89.9

10.0

11.011 27 86 87 6

10 219 622.618 118 1

16.319 318 217 818.820.924.226 223 123.8

27 328.030 032.136.537.440 242.145.748.5

52.252.3

Imports

10.3

9.07.96 67.17.18.79.3

10.58.08.7

8.910 89.9

12.613 413.911.210.312 011.7

13.614 115.216.715.817.719.119.920.923.5

23.022.925.526.628.231.236.138.544.748.3

49.851.8

Government purchases ofservices l

Total

22.0

24.325.424.223.326.627.031.830.833.935.2

36.456 3

117.1164.4181.7156.448.439.946.353.3

52.875 492.199.888.985.285.389.394.294.7

94.9100.5107.5109.6111.2114.7126.5140.2147.7145.6

139.4139.3

Federal

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

51.454.660.059.558.157.965.474.778.173.8

65.462.3

goods and

State andlocal

18.5

20.221.119.617.318.619.219.619.420.622.7

21.420.118.316.616.316.718.420.822.725.7

27.527.928.429.732.134.435.637.640.642.2

43.545.947.550.153.256.861.165.569.671.9

74.077.0


1.72.63.22.1

3.0

.1- . 7

51.652.852.451.9

52.953.154.548.6

49.950.149.249.8

49.853.754.449.4

142.6138.7138.2138.3

137.6137.0139.6142.9

69.465.363.863.2

61.360.762.764.3

73.273.474.375.2

76.376.376.678.8

* Net of Government sales.


197


TABLE B-3.—Implicit price deflators for gross national product, 1929-71

[Index numbers, 1958=100]

Year or quarter

1929

19301931... .19321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960 .196119621963196419651966196719681969

19701971 v

1970:1II. „IIIIV

1971:1IIIIIIVr

Totalgross

national

ucU

50.64

49.2644.7840.2539.2942.1642.6242.7344.5043.8843.23

43.8747.2253.0356.8358.1659.6666.7074.6479.5779.12

80.1685.6487.4588.3389.6390.8693.9997.4999.97

101.66

103.29104.62105.78107.17108.85110.86113.94117.59122. 30128.21

135.29141. 56

132.82134.32135.97138.07

139.88141.34142.21142. 74

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 8111.5114.4118.4123.5

129.4134.6

127.3128.7129.9131.7

133.0134.3135.3135.8

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

100.3103.4106.0

108.9112.4

107.6108.2109.2110.8

112.5112.9112.7111.7

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

101.2101.9102.8104.0104.9106.9110.7113.0117.1122.1

127.7131. 7

126.1127.4128.1129.2

130.1131.4132.4133.0

Serv-ices

56.1

55.752.748.343.644.344.445.046.847.747.7

47.949.852.755.357.558.762.767.972.174.3

76.380.083.687.790.092.094.697.3

100.0103.0

105.8107.6109.0110.9113.1115.1118.3122.2126.9133.2

140.2148.2

Gross private domestic 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

103.4103.9104.9106.0107.6109.3111.8115.9120.4126.4

132.6140.5

Seasonally adjusted

137.4139.3141.0143.1

145.6147.5149.3150.3

129.8131.2133.3136.2

137.7140.0141.7142.4

Fixed investment

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

102.9103.4104.1104.5105.7107.5110.2113.8117.5123.0

130.0137.2

127.0128.6130.7133.6

134.9136.8138.4138.6

Struc-tures

35.7

34.031.127.627.928.930.630.234.433.933.1

33.936.441.346.848.649.254.464.471.571.2

72.979.383.284.986.088.193.498.6

100.0102.7

104.0105.6107.1108.9111.1114.7118.9124.0129.8141.1

152.0170.4

146.9149.6154.1157.9

162.1168.1174.9176.9

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

102.2102.1102.3102.3103.0103.9106.0109.3112.0115.1

120.1124.1

118.1119.3120.6122.6

123.7124.1124.3124.2

Resi-dentialstruc-tures

38.1

37.133.627.327.130.129.831.334.335.535.7

36.940.343.347.051.654.959.771.780.878.5

82.588.690.891.990.492.997.499.8

100.0103.1

104.5105.0106.7108.9112.3114.2117.4123.1129.7137.9

142.4150.2

140.1140.9143.8144.7

146.9149.5150.9152.9


198


TABLE B-3.—Implicit price deflators for gross national product, 1929-71—Continued

[Index numbers, 1958=1001

Year or quarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965196619671968.1969

1970.1971*

1970: L.IIIIIIV

1971: 1IIIIIIV*

Exports and imports ofgoods and services l

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

99.9101.9100.8100.6101.5104.7107.7109.7110.9114.7

120.6125.4

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

101.5103.4105.6106.5107.7110.8

119.2125.2

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

105.0107.1109.0111.8115.7119.4124.0128.5135.1144.0

157.3167.4

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

104.2105.2105.6108.0112.2115.5118.8121.5126.5134.4

148.6156.8

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

105.9109.4113.2116.3119.5123.5129.4136.4144.8153.9

165.1175.9

Gross national product bysector

Private *

51.73

50.4545.6740.9139.9243.0143.5143.4545.3344.6543.93

44.6948.6655.5160.8562.0262.5968.2576.2781.4080.60

81.4187.3588.9989.6590.7791.5794.5397.9299.97

101.41

102.76103.73104.73105.80107.05108. 83111.56114.79118.90124.29

130.38136.03

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

108.6113.6116.6121.5128.4133.5140.3147.6159.1171.1

188.7202.8

Seasonally adjusted

119.2119.8121.6121.7

125.2125.2125.2125.8

116.2117.7121.4121.5

123.4123.8125.5128.0

152.4156.1159.3161.7

165.6167.6167.5168.6

144.3148.2150.5151.8

157.2158.1155.6156.6

160.0163.1166.8170.2

172.4175.2177.3178.5

128.13129.43131.00132.98

134.44135.87136. 71137.07

183.8187.5190.4193.2

199.7202. 0203.2206.3

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 B-7 and B-8.


199


TABLE B-4.—Gross national product by major type of product, 1929-71


Year orquarter

1929

19301931 . .19321933193419351936193719381939

194019411942 . . .1943194419451946194719481949

195019511952195319541955 . .1956195719581959

I960196119621963196419651966196719681969

1970 . . .1971*

1970: L___II . . .III. .IV. .

1971: L —I I . . .ML.IV p .

Totalgrossna-

tionalprod-uct

103.1

90.475.858.055.665.172.282.59C.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

503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1

974.11,046.8

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

500.2518.1554.3584.6626.6675.3735.1785.7857.1921.7

971.31, 044.7

la«™c o

1.7

- . 4- 1 . 1- ? 5- 1 . 6

i ! i

2. 5- . 9

.4

? ?4 51 R

- . 6- 1 . 0- 1 0

6 4- . 54 7

- 3 . 1

6.810.33.1

- 1 . 56.04 71.3

- 1 . 54.8

3 fi2.0fi n5.95 89.6

14.88 ?7.17.4

?.82.1

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

259.6262.3284.5298.6319.4347.2383.3398.9429.5457.3

468.3494.2

Finalsales

54.3

47.338.629.228.635.138.844.548.946.248.6

53.868.091.9

121.0133.3129.9118.5140.1149.4150.5

155.6179.4192.5203.7198.6210.4220.7233.3232.3244.4

256.0260.2278.5292.7313.6337.6368.5390.7422.4449.9

465.5492.1

II> o

1.7

- . 4- 1 . 1- ? . 5- 1 fi

l.'l1.32.5

- . 9.4

?.?4 51 8

- . 6- 1 . 0- 1 0

6.4- 54.7

- 3 1

fi 810.33.1

4- 1 S

6.04.71 3

- 1 S4 8

3 fi? 0fi 05 q5 89 fi

14.88.?7.17.4

?.82.1

Durable goods

Total

17.5

11.47.73 64.97.49.3

12.213.99.9

12.7

16.626.835.554 ?57.948.936.946.048.747.8

60.473.774.679.472.185.790.394.483.695.6

99.596.5

109.0116.1127.0139.6156.7161.1174.5185.3

180.2193.7

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

106.2113.3122.8133.0146.2156.5169.6180.9

180.8193.3

III 1

1.4

- 1 . 0- 1 . 2- ? n_ 5

!3.9.8

- . 9.3

1 ?3 01.0

.0- . 6

- 1 . 35 31.7

- 2 1

4.16.91.1.9

- 2 53.02 81.3

- 2 82.3

? 1- . 1? 82.84 ?6.7

10.54 74.94.5

- . 6. 4

Nondurable goods

Total

38.5

35.529.7?3.122.127.030.633.637.635.436.3

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, 5182.5192.4207.6226.6?37.7255.0272.0

288.1300.5

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

158.6163.7172.2179.4190.7204.7222.3234.2252.9269.0

284.7298.7

III"5

0.3

.7

.1- , 4

- 1 1- . 9

l!8.0.1

i n1 4

7- fi- . 3

?1 1

- ? ?4 0

- 1 0

? 73.42.0

- 51.02.91.9.0

1.3? 4

1 5? 13 ?3 11 63.04.33 h2.12.9

3.41.7

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

187.3199.5213.3226.2244.2262.9289.1316.5346.6377.4

410.3443.7

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

56.858 362.665.768.874.877.578.688.194.4

95.5108.9

Grossautoprod-uct

------

7 28.8

11 9

15 413.512 016.314 621.216 919 514 519.1

21.417 922.525.125.831.830.028.936.336.6

30.640.5


956.0968.5983.5988.4

1,020.81,040.01,053.41,073.0

955.6966.5978.4984.7

1,017.71,035.41,054.61,071.2

0.42.15.13.7

3.14.6

- 1 . 21.9

461.9468.6474.9467.7

485.5490.8496.2504.1

461.5466.6469.8464.0

482.4486.2497.4502.3

0.42.15.13.7

3.14.6

- 1 . 21.9

179.8181.8189.6169.7

192.8193.0193.9195.1

181.5183.7184.9173.1

189.4190.6196.4196.9

- 1 . 8- 2 . 0

4.7- 3 . 4

3.52.3

- 2 . 5- 1 . 9

282.1286.9285.3297.9

292.7297.8302.3309.0

279.9282.9284.9290.9

293.1295.5301.0305.3

2.24.0.4

7.1

- . 42.31.33.7

400.8406.2413.7420.6

432.3441.0446.3455.2

93.493.794.9

100.1

102.9108.2110.8113.8

30.935.234.122.0

42.139.842.138.1


200


TABLE B-5.—Gross national product by major type of product in 1958 dollars, 1929-71


Year orquarter

1929 . . . .

19301931 .19321933193419351936193719381939

1940194119421943194419451946194719481949

19501951... .19521953195419551956195719581959

I960—196119621963 .1964196519661967 . . .19681969

19701971 v

1970: L . . .II . . .ML.IV...

1971: 1 . . .II —III..IVP.

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 8551.0581.1617.8658.1675.2706.6724.7

720.0739.5

719.8721.1723.3715.9

729.7735.8740.7751.7

Finalsales

200.1

184.1171.7150.5145.9157.0167.1189.9197.8195.3208.2

222.3254.1293.8337.3363 2358.2302.6310.1319.1328.1

347.0372.5391.8411.8409.0431.6441.2451.2448.8471.1

484.2495 2523 8545.2575.2608.8644.2667.5700.2718.2

717.7737.5

719.5719.1719.4712.8

727.2731.7741.2749.9

Inve

ntor

ych

ange

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 . 0

6.44.81 2

- 1 . 54.8

3.52 06 05.85.89.0

13.97.76.46.4

2.32.0

0.32.03.93.1

2.54.1

- . 51.9

Goods output

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

756.0257 3277.3289.7308.6330.7356.8363.1379.7389.9

383.0393.5

382.7385.4387.2376.7

388.1390.2394.4401.3

Total

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

252.6255.3271.3283.930?. 8321.7342.9355.4373.3383.4

380.7391.5

382.4383.4383.3373.6

385.6386.1394.9399.5

>»«II| l

3.5

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

7.43.15.5

- 2 . 41.2

4.99.64.0

- . 2- 1 9- 2 . 910.0- . 24 6

- 3 . 9

8.310. 93.3

9- 2 . 0

6 44,81 7

- 1 . 54.8

3 57 06 n5 85.8q o

13.97 76.46.4

7.32.0

Dur

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

107.0114.2124.6136.5151.8152.2160.7165.9

156.1163.5

able go

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

104.1111.4120.4130.1141.9148.0156.2162.1

156.8163.0

)ds

t§c

?.7

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

.7

.97.41.9

- 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

2.82.84.16.59.84.34.43.8

- . 6.5

Nondi

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

158.2162.3170.3175.6184.1194.2205.1210.9219.0224.0

226.9230.0


0.32.03.93.1

2.54.1

- . 51.9

157.7158.8163.7144.4

162.4162.3163.7165.6

159.4160.3160.0147.5

159.6160.2165.3167.0

- 1 . 6- 1 . 5

3.7- 3 . 1

2.82.2

- 1 . 6- 1 . 4

225. C226.1223.5232.3

225./227.8230.7235.7

jrable g

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 3167.2172.5182.3191.6201.0207.4217.0221.4

223.9228.5

223. (223.1223.C226.1

226. (225.5229. e232.^

oods

IIS.S1°

0.8

1.5.5

- 1 . 1- 2 . 7- 7 , 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

01.32.5

1.52.03.13.11 72.64.13.52.02.6

3.01.5

) 1.53.(.;

6.J) - . ,) 2.(> 1.\ 3.:

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. 7267.8

273.4278.9

) 273.> 272.I 273.I 274.

J 276.) 278.I 278.$ 282.

Struc-tures

30.3

25.320.213.79.8

11.112.817.519.117.721.8

23.230.531.917.912 412.927.231.236 137.5

45.244.444.747.050.254.354.052.653.157.0

55.055.858.860.461.665.265.063.067.267.0

63.667.1

3 64.13 63.43 62.25 64.7

2 65.44 67.23 67.31 68.3

Grossautoprod-uct

------

"io."311.414.8

19.115.913.518.717.124.618.620.214.518.5

21.017.522.024.725.531.830.629.035.435.0

28.335.9

29.133.031.619.6

36.834.737.534.7


201


TABLE B—6.—Gross national product: Receipts and expenditures by major economic groups,1929-71


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..

I960..1961..1962..1963...1964...1965...1966...1967..1968...1969...1970..1971 p.

1970: I

I I I . . .IV...

1971:

IIL.IV P.

Persons

Disposable personalincome

Total »

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

350.0364.4385.3404.6438.1473.2511.9546.3591.0634.2687.8741.2

Less:Inter-

estpaidand

trans-fer

pay-mentsto for-eigners

1.9

1.2.9.7.7.6

!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

10.712.013.013.915.116.717.918.6

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

342.3356.3376.6394.9427.4461.3498.9532.4575.9617.5669.9722.6

Per-sonalcon-

sump-tionex-

pendi-tures

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6615.8662.2

Per-sonalsaving

ordis-

saving

4.2

3.42.6

- . 6- . 9

.42.13.63.8

.72.6

3.811.027.633.437.329.615.27.3

13.49.4

13.117.318.118.316.415.820.620.7ZZ7319.1

17.021.221.619.926.228.432.540.439.837.954.160.4

Government

Net receipts

Taxandnon-taxre-

ceiptsor ac-cruals

11.3

10.89.58.99.3

10.5n.n12.915.415.015.4

17.725.032.649.251.253.250.956.858.956.0

68.784.889.894.389.7

100.4109.0115.6114.7128.9

139.8144.6157.0168.8174.1189.1213.3228.9263.5295.6300.5320.8

Less:Trans-fers,inter-est,andsub-

sidies »

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

36.541.342.844.446.749.955.562.870.778.494.2

108.0

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

103.3103.3114.2124.3127.3139.2157.9166.2192.7217.2206.3212.8

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

136.1149.0159.9166.9175.4186.9212.3242.9270.3288.2313.6341.1

Less:Trans-fers,inter-

andsub-

sidies'

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

36.541.342.844.446.749.955.562.870.778.494.2

108.0

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

99.6107.6117.1122.5128.7137.0156.8180.1199.6209.7219.4233.1


667.6685.7696.2701.5722.0739.6748.5754.8

17.517.818.018.318.418.618.818.8

650.1667.9678.2683.2703.6721.0729.7736.0

604.0613.8620.9624.7644.9657.4668.8677.7

46.254.257.458.558.663.661.058.4

296.6301.8301.7301.9312.3317.8322.0

82.797.596.899.8

101.4109.1110.3110 7

213.9204.3204.9202.1210.9208.7211.7

300.0314.0316.9323.7329.3338.7344.1351.7

82.797.596.899.8

101.4109.1110.3110.7

217.3216.5220.1223.7227.9229.6233.8240.9

Sur-plusor

deficit< - ) ,

na-tional

in-comeand

prod-uct ac-counts

1.0

-5 9- 1 . 8- 1 . 4- 2 . 4- 2 . 0- 3 . 1

- L 8- 2 . 2

- . 7- 3 . 8

-31.4-44.1-51.8-39.5

5.414.48.5

- 3 . 2

7.85.8

-3.8- 6 . 9- 7 . 0

2.74.9.7

-12.5- 2 . 1

3.7- 4 . 3- 2 . 9

1.8—1.4

2.21.1

-13.9- 6 . 8

7.4-13.1—20.3

- 3 . 4-12.2-15.2-21.7-17.1-20.9-22.2


202


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

1929- 77—Continued[Billions of dollars]

Yearor

quarter

1929...

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

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

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

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

1970...1971P_.

1 9 7 0 : I . . .I I . .I I I . .I V . .

1 9 7 1 : I . . .I I . .I I I .

Business

Grossre-

tainedearn-ings 3

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

99.3112.7

Grosspri-vate

domes-tic

invest-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

54.159.351.952.651.767.470.067.960.975.3

56.858.766.3R8.876.284.791.393.095.495.6

74.871.783.087.194.0

108.1121.4116.6126.0137.8135.3150.8

Excessof in-vest-ment

- 5 . 1

- 1 . 6- . 32.21.81.9.0

- 1 . 8- 4 . 0

1.6- . 9

- 2 . 7- 6 . 5

4.610.610.04.6

-16.1-13.8-18.0- 6 . 0

-24.7-26.2-16.8-16.5-12.5-21.1-22 .8-18.1-11.5-18.5

-18.0-13.0-16 .8-18.4-17.8-23.4-30.1-23 .5-30 .6-42.1

- 3 6 . 0-38 .1

International

Nettrans-fers to

for-eignersby per-

sonsand

Govern-ment

0.4

.3

.3

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.3

.82.92.64.55.6

4.03.52.52.52.32.52.42.32.42.42.42.62.72.82.82.82.83.02.92.93.13.4

Net exports of goodsand services

Ex-ports

7.0

5.43.62.52.43.03.33.54.64.34.4

5.45.94.84.45.37.2

14.719.716.815.8

13.818.718.016.917.819.823.626.523.123.5

27.228.630.332.337.139.243.446.250.655.662.965.5

Less:Im-ports

5.9

4.43.12.12.02.43.13.44.33.03.4

3.64.64.86.57.17.97.28.2

10.39.6

12.015.115.816.615.917.819.620.820.923.3

23.223.025.126.428.632.338.141.048.153.659.364.8

Equals:Netex-

ports

1.1

1.0.5.4.4.6.11

!31.31.1

1.71.3.0

- 2 . 0- 1 . 8- . 67.5

11.56.46.1

1.83.72.2.4

1.82.04.05.72.2.1

4.05.65.15.98.56.95.35.22.52.03.6

.7

Excessof

trans-fers

orof net

ex-ports(-)»

- 0 . 8

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

.1

.1- . 1

- 1 . 1- . 9

- 1 . 5- 1 . 1

.22.22.11.4

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

2.2- . 2

.32.1.5.5

- 1 . 5- 3 . 4

.22.3

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

.4

.9- . 42.7

Totalincomeor re-ceipts

102.4

91.275.157.755.064.572.581.390.584.189.2

98.7124.1159.0193.6207.6208.0208.4230.4259.5256.2

283.3325.1343.3361.6362.1395.9420.4441.1445.8484.5

504.8520.8559.8590.8633.7688.0750.9794.6866.9933.2

978.61,051.5

Statis-ticaldis-crep-ancy

0.7

- . 8.7.3.6

-.21.2.0.6

1.3

1.0.4

- 1 . 1- 2 . 0

2.53.9

]9- 2 . 0

.3

1.53.32.23.02.72.1

- 1 . 1.0

1.6- . 8

- 1 . 0- . 8

.5- . 3

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

- . 7- 2 . 7- 4 . 1

- 4 . 5- 4 . 7

Grossna-

tionalprod-uct

or ex-pendi-ture

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

503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1

974.11,046.8


96.299.1

100.4101.5

107.6111.9113.0

131.2134.1138.6137.3

143.3152.9150.8156.5

-35.0-35.0-38.2-35.8

-35.7-41.0-37.8

3.03.03.23.3

3.13.43.73.5

61.563.263.763.2

66.266.568.261.2

58.059.059.760.5

61.566.468.263.2

3.54.24.02.7

4.7.1.0

- 2 . 0

- 0 . 5- 1 . 1- . 7

.7

- 1 . 63.33.75.5

963.2974.3986.7990.1

1,025.21,044.91,058.1

-7.3-5.8-3 .2-1.6

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

956.0968.5983.5988.4

1,020.81,040.01,053.41, 073.0

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,

subsidies less current surplus of government enterprises, and disbursements less wage accruals.3 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allowances, and

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

See Table B - l l .5 Net foreign investment less capital grants received by the United States, with sign changed.


203


TABLE B-7.—Gross national product by sector, 1929-71


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..

I960..1961..1962..1963..1964..1965..1966..1967..1968..1969..

1970..1971J'

1970: I.I I . . .I I I . .I V . . .

1971:I I . . .III. .IV p..

Totalgross

nationalproduct

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7

503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1

974.11,046.8

Gross private product»

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

456.3469.2505.7532.4569.4617.1673.3708.8769.3825.3

859.8922.8

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

440.7452.3487.4513.0548.2594.4648.9681.6739.0792.5

823.4880.7

Business

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

420.2431.4466.2491.5527.6570.8624.0657.0713.9764.5

795.2850.8

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

20.520.921.22L.520.623.724.924.625.228.0

28.230.0

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

13.214.015.016.017.318.520.222.825.528.5

31.735.5

Rest ofthe world

0.8

.7

.5

.4

.3

.3

.4

.3

.3

.4

.3

.4

.4

.4

.4

.4

.4

.6

.81.01.0

1.21.31.31.31.61.82.12.22.02.2

2.42.93.33.44.04.24.14.54.74.3

4.66.5


Grossgovern-

mentproduct*

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

47.550.954.758.163.067.876.685.194.9

103.8

114.4124.0

956.0968.5983.5988.4

1, 020.81,040.01,053.41,073.0

844.5854.8868.3871.6

899.2916.9928.9946.1

809.1819.7831.3833.5

859.2874.6886.9902.2

779.3790.9804.1806.4

831.1845.7856.1870.1

29.828.827.127.1

28.128.930.832.0

30.931.032.133.0

34.235.035.937.0

4.54.14.85.1

5.87.36.06.9

111.6113.8115.2116.8

121.5123.1124.5127.0

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

3 Compensation of general government employees.


104


TABLE B-8.—Gross national product by sector in 1958 dollars, 1929-71


Year orquarter

1929

1930193119321933 .1934193519361937.. . . . .19381939 . .

19401941 .194219431944 .19451946194719481949

195019511952. . . ...19531954 .195519561957 .19581959

19601961 . . .196219631964 .19651966196719681969

19701971 v

1970: 1.II.IllIV

1971: L . . .IIIIIIV *__

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

487.7497.2529.8551.0581.1617.8658.1675.2706.6724.7

720.0739.5

Gross private product1

Total

190.9

170.1155.8131.0127.5138.3152.4173.1184.3172 6188.7

205 6236.6257.3272 8286.9282.5275 1281.4295.0294.1

324.2344 6353.2371 1366 2397.2404 8410.5405.2433.4

444.0452.3482 9503.2532.0567.0603.5617.5647.0664.0

659.4678.3

Business

Total

182.1

161.4147.7123.8120.6131.1144.9165.4176.4164 6180.7

197 1228 1248.7264 9278.9274.6267 0272.«286.0284.7

314.2334 5343.2360 7355.4385.4392 2397.5391.7419.4

429.5436.9466.7486.6514.4548.9584.9597.8626.5643.5

638.5655.4

Nonfarm'

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

407.6414.8444.6463.8492.1525.2562.5573.9603.1619.3

614.6629.8

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

21.922.222.122.822.323.722.423.923.424.2

23.925.6

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

12.212.412.913.213.714.014.615.416.016.5

17.017.8

Rest ofthe world

1.4

1.61.41.31.21.01.11.0.8

1 i.9

1 0.9.8.8.9.8.9

1.11.21.2

1.31.21.21.31.61.82.02.12.02.2

2.32.93.43.43.94.13.94.34.54.0

4.05.1

Grossgovern-

mentproduct3

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

43.744.846.947.849.150.854.657.659.760.7

60.661.2


719.8721.1723.3715.9

729.7735.8740.7751.7

659.1660.4662.8655.4

668.9674.9679.4690.2

637.9640.1641.8634.1

646.6651.4656.9666.7

614.4616.1618.6609.2

621.7626.4630.1641.1

23.523.923.224.9

24.925.026.825.6

17.116.817.017.1

17.617.717.818.2

4.13.64.04.2

4.75.84.75.3

60.760.760.560.5

60.860.961.361.5

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.

3 Compensation of general government employees.


205451-ft»8 O—72


TABLE B-9.—Gross national product by industry in 1958 dollars, 1947-70


Year

194719481949 . . .

19501951 . .195219531954.

1955 . . . .1956195719581959

19601961-196219631964

19651966196719681969

1970

Totalgross

na-tionalproduct

309.9323.7324.1

355.3383.4395.1412.8407.0

438.0446.1452.5447.3475.9

487.7497.2529.8551.0581.1

617.8658.1675.2706.6724.7

720.0

Agri-culture,fores-

try,andfish-eries

17.920.019.4

20.419.520.221.221.6

22.122.021.522.022.3

23.123.423.324.023.6

25.023.725.224.825.6

25.3

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

23.524.723.123.824.1

23.0

Manufacturing

Total

91 896.390.9

105.5116.2118.7128.6119.5

133.6134.1134.6123.7138.9

140.9140.4154.6162.4173.7

190.5205.7205.4219.2225.8

217.1

Du-rablegoodsindus-tries

52.355.050.5

60.869.071.579.171.2

80.779.479.669.679.9

81.079.790.095.6

102.4

114.8125.1123.9131.8135.8

127.9

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

75.780.781.487.489.9

89.2

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

59.264.066.570.975.1

77.2

saleandretailtrade

52.754.255.2

60.461.462.964.965.5

71.673.875.175.180.8

82.383.588.992.898.9

104.8111.6113.9120.8125.1

127.1

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

83.186.891.695.296.5

97.0

Serv-ices

30.631.932.1

33.134.034.535.335.4

38.240.241.842.945.1

46.748.350.852.254.7

57.760.663.465.868.0

68.6

Gov-ern-mentand

govern-mententer-prises

32 433.234.7

35.943.947.247.146.1

46.046 246.947.347.9

49.250.652.653.956.1

58.061.865.568.670.2

69.9

Allother »

6 77.1

10.6

12.113.014.014.313.5

14.412 713.116.014.1

14.716.317.917.417.8

15.819.420.617.614.3

14.9

1 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).


206


TABLE B-10.—Personal consumption expenditures, 1929-77


Yearor

quarter

1929

193019311932193319341935. . . .1936193719381 9 3 9 . - .

1940194119421943194419451946194719481949

195019511952195319541955195619571958 . . . .1959 . . . .

1960196119621963 . . .19641965."...19661967- . .1968 . . .1969 . . .

19701971 v..

1970: 1.II.IllIV

1971:1.IIIIIV

Ihil| |o.

o

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.308.319.743.460.773.676.8

91.006.3

216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6

615.8662.2

2

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

45.344.249.553.959.266.370.873.184.089.9

88 6100.4

Durable goods

ce

SoE3<

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

20.118.422.024.325 830.330 330.537.540.4

37 146.2

hIsw'5

f lu.

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

18.919.320.522.225.026.929.931.434.336.3

37.439.5

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

10.511.212.313.3

14.214.7

Nondurable goods

153>

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

151.3155.9162.6168.6178.7191.1206.9215.0230.8247.6

264 7278.8

32

1"OcCO

LU

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

105.8108.5115.3122.5

131.8136.6

-

1•occo

o

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

27.327.929.630.633.535.940.342.346.350.3

52.657.0

oT3CCO

.11

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

12.312.412.913.514.015.316.617.619.021.1

22.924.3

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

31.232.734.436.338.241.144.446.650.253.7

57.560.9

•§

30.3

28.726.022.220.120.421.322.824.424.325.0

26.028.130.834.237.239.845.349.854.757.6

62.467.973.479.985.491.498.5

105.0112.0120.3

128.7135.1143.0152.4163.3175.5188.6204.0221.3242.1

262.5283.0

cSo3

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

46.348.752.055.459.363.567.571.877.384.0

91.299.7

Services

co

I"o

oX

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

20.020.822.023.124.325.627.129.131.233.7

36.139.3

111

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

10.810.611.011.411.612.613.614.515.516.5

17.919.0

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

51.654.958.062.568 173.880 488.597.3

107.8

117 3125.0


604.0613.8620.9624.7

644.9657.4668.8677.7

88.690.790.484.9

96.699.1

102.8103.2

37.839.138.832.7

43.845.348.247.5

37.337.637.037.6

38.839.439.640.5

13.514.014.614.6

14.014.515.115.3

259.4262.9265.5270.9

273.2277.8280.2283.9

128.9131.4132.4134.3

134.4136.3137.3138.6

51.652.152.454.2

55.457.057.458.0

22.522.622.923.5

23.823.824.525.0

56.456.957.859.0

59.660.861.062.2

256.1260.2265.0268.9

275.0280.5285.8290.6

88.790.391.894.1

96.598.7

100.7102.9

35.135.736.736.9

37.738.939.940.6

17.517.618.118.3

18.619.019.219.4

114.8116.6118.3119.5

122.3124.0125.9127.8

» Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.


207


T A B L E B—11.—Gross private domestic investment, 1929-71


Year orquarter

1929

193019311932193319341935 .1936 . - .1937 ._ -19381939 . . -_

194019411942194319441945 .1946194719481949

195019511952195319541955195619571958 .1959

19601961 .19621963196419651966... . . .19671968. .1969

19701971 v _ . .

1970: 1IIIIIIV

1971: 1IIIllIV p . . . .

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

54 159 351 952.651.767.470 067 960 975 3

74 871.783 087.194.0

108.1121.4116.6126.0137.8

135.3150.8

131.2134.1138.6137.3

143.3152.9150.8156.5

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

106.6108.4118.9130.4

132.5148.7

130.8132.1133.5133.6

140.2148.3152.0154.6

Fixet1 investment

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

48.447.051.754.361.171.381.683.388.898.6

102.1108.2

100.8102.1104.8100.8

104.7108.3109.3110.4

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

18.118.419.219.521.225.528.528.030.334.5

36.838.1

36.136.637.337.1

36.738.538.738.6

Non-farm

4.8

3.92.3

.91.01.21.62.41.81.9

2.22.81.81.21.72.76.16.78.07.7

8.510.410.511.912.313.616.517.215.815.9

17.417.718.518.820.524.927.827.329.633.7

35.937.2

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

30.328.632.534.839.945.853.155.358.564.1

65.470.1

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

27.725.829.431.236.341.648.450.053.659.2

60.062.6

Residential structures

Total

4.0

2.31.7

.6

.91.21.61.92.02.9

3.43.92.11.41.31.57.2

11.114.413.7

19.417.217.218.019.723.321.620.220.825.5

22.822.625.327.027.127.225.025.130.131.8

30.440.6


35.335.736.536.3

35.837.637.737.6

64.765.667.563.7

68.169.870.671.8

59.760.661.658.1

61.062.462.764.4

30.029.928.732.8

35.440.042.744.2

Non-form

3.8

2.21.6.7.5.8

1.1

L81.92.8

3.23.71.91.21.11.46.7

10.413.612.8

18.616.416.417.219.022.720.919.520.124.8

22.222.024.826.426.626.724.524.529.531.2

29.740.1

29.429.328.132.2

35.039.542.143.6

Farm

0.2

.11

.0

.011

.1

.1

.1

.1

.2

.2

.2

.1

.5

]9.8

8.8.8.8

.6

.7

.6

.6

.6

.6

.6

.6

.5

.5

.5

.6

.5

.6

.6

.5

0.6.6.6.6

.4

.5

.6

.6

Change inbusiness

inventories

Total

1.7

- . 4—1 1- 2 5- 1 . 6

1.11.32.5

- 9

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

14.88.27.17.4

2.82.1

Non-farm

1.8

- . 1—1 6- 2 6- 1 . 4

42.11.7

- 1 0.3

1.94.0.7

—.6- . 6- . 66 4It 33.n

- 2 . 2

6 09 12.11.1

- 2 . 15.55.1.8

- 2 . 34.8

3 31.75.35.16.48.6

15.07.56.97.3

2.51.5

0.42.15.13.7

3.14.6

- 1 . 21.9

0.11.84.73.3

2.94.1

- 2 . 01.0


208


TABLE B-12.—National income by type of income, 1929-71


Year orquarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963.196419651966196719681969

19701971 v

1970- 1IIIIIIV. .

1971: L . . .III 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

414.5427.3457.7481.9518.1564.3620.6653.6711.1763.7

795 9850.8

785 8793.4802 2802.1

831.7847.3855.2

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

294.2302.6323.6341.0365.7393.8435.5467.2514.6565.5

601.9641.8

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

270.8278.1296.1311.1333.7358.9394.5423.1464 9509.6

541 4574.2

593 2598.5606 5609.3

627.3638.0645.6656.5

534 7538.5545 2547.2

561.4571.0577.3586.9

Sup-ple-

mentsto

wagesand

sala-ries *

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

23.424.627.529.932.035.041.044.249.756.0

60.567.7

58 560.061 362.1

65.967.068.369.6

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

34.235.637.137.940.242.445.247.349.550.3

51.052.1

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

34.335.637.137.940.342.845.647.650.351.1

51.752.9

Inven-toryvalu-ation

adjust-ment

0.1

.8

.6

.3- . 5

1

!o- . 1

. 0

.2- . 2

.0- . 6- . 4- . 2- . 1- . 1

- 1 . 7- 1 . 5- . 4

.5

- 1 . 1- . 3

.22

.'o- . 2- . 5- . 3- . 1- . 1

.0

.0

.0

.0- . 1

4-A- . 3- . 7- . 8

- . 7- . 8

In-come

offarmpro-prie-tors »

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

12.012.813.013.112.114.816.114.814 716.8

15 816.3


50 251.051 451.5

51.651.952.352.5

17 816.614 514.4

14.815.217.018.1

Rentalin-

comenfor

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

15.816.016.717.118.019.020.021.121.222.6

23.324.3

23 023.223 423.7

23.824.224.524.6

Corporate profitsand inventory

Total

10.5

7.02.0

- 1 . 3- 1 . 2

1.73.45.66.84.96.3

9.815.220.324.423.819.219.325.633.030.8

37.742.739.939.638.046.946.145.641.151.7

49.950.355.758.966.376.182.478.784.378.6

70.880.7

69 871.573 069.0

79.582.580.0

valuationadjustment

rateprofitsbeforetaxes '

10.0

3.7- . 4

- 2 . 31.02.33.66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.9

42.643.938.940.638.348.648.847.241.452.1

49.750.355.459.466.877.884.279.887.684.2

75.485.2

75 675.878 571.6

83.086.985.8

Inven-toryvalu-ation

adjust-ment

0.5

3.32.41.0

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

. 01.0

- . 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- . 5

- 1 . 7- 1 . 8- 1 . 1-3 .3-5 .5

- 4 . 5- 4 . 4

- 5 8- 4 . 2- 5 5- 2 . 6

- 3 . 5- 4 . 4- 5 . 8- 4 . 0

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

8.410.011.613.815.818.221.424.4?6 929.9

•n o35.6

31 832.633 434.2

34.835.435.936.4

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

s 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.

1 Includes change in inventories.< See Table B-73 tor corporate tax liability and profits after taxes.


209


TABLE B-13.—Relation of gross national product and national income, 1929-71


Year or quarter

1929

1930193119321933 . .193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969 . .

19701971*

1970: 1||IIIIV

1971:1 . . . .IIIIIIV v

Grossna-

tionalprod-uct

103.1

90 475.858.055.665.1<72.282.590 484.790.5

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 3590.5632.4684.9749.9793.9864.2929.1

974.11,046.8

Less:Capital

con-sump-

tionallow-ances

7.9

8 07.97.47.06.86.97.07 27.37.3

7.58 29.8

10.211.011.39.9

12 214 516.6

18.321 223 225.728 231.534.137 138 941.4

43 445.250 052.656.159.863.968.974.581.1

87 695.2

Equals:Net

tionalprod-uct

95.2

82 468.050.748.658.265.475.483 377.483.2

92.2116 3148.1181.3199.1200.7198.6219 1243 1239.9

266.4307 2322.3338.9336 6366.5385.2404 0408 4442.3

460 3474.9510 4537.9576.3625.1685.9725.0789.7848.0

886 5951.6

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-prises

- 0 . 1

_ i.0.0.0.3.4.0

1.2

.41

.2

.2

.7

.8

.9_ 2_ l- . 1

.22

- . 1- . 4_ 2- . 1

.89

.9

.1

.21.41.4.8

1.31.32.31.4.7

1.1

1.7.9

Less:

Indirect business tax andnontax liability

Total

7.0

7 26.96.87.17.88.28.79 29.29.4

10.011.311.812.714.115.517.118 420.121.3

23.325.227.629.629.432.134.937.338.541.5

45.247.751.554.758.462.565.770.478.685.7

92.9102.1

Federal

1.2

1 0.9.9

1.62.22.22.32 42.22.3

2.63.64.04.96.27.17.87 88.08.0

8.99.4

10.310.99.7

10.711.211.811.512.5

13.513.614.615.316.116.515.716.318.019.0

19.320.2

Stateandlocal

5.8

6 16.05.85.45.66.06.46.86.97.0

7.47.77.77.88.08.49.3

10.612.113.3

14.515.817.318.719.721.423.625.527.028.9

31.734.136.939.442.345.949.954.160.666.7

73.681.9

Busi-ness

transferpay-

ments

0.6

5.6.7.7.6.6.6.6

'.5

. 4

.5

.5

.5

.5

.5

.5

.6

.8

.8

.91.01.21.11.21.41.51.61.7

1.92.02.12.32.52.73.03.13.43.7

3.94.3

Sta-tistical

dis-crep-ancy

0.7

- 8.7.3.6

-.21.2.0.6

1.3

1.0.4

- 1 . 1- 2 . 0

2.53.9.1.9

- 2 . 0.3

1.53.32.23.02.72.1

- 1 . 1.0

1.6- . 8

- 1 . 0- . 8

- . 3- 1 . 3- 3 . 1- 1 . 0- . 7

- 2 . 7- 4 . 1

- 4 . 5- 4 . 7

Equals:

tionalincome

86.8

75 459.742.840.349.557.265.073.667.472.6

81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5

241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0

414.5427.3457.7481.9518.1564.3620.6653.6711.1763.7

795.9850.8


956.0968.5983.5988.4

1 020.81, 040. 01, 053.41, 073.0

85.486.988.289.8

92.093.996.298.7

870.6881.6895.3898.6

928.8946.1957.2974.4

1.41.81.91.7

1.8.7.7.5

89.791.994.295.8

99.0100.2103.0106.3

19.019.119.719.4

20.719.919 720.7

70.772.874.576.4

78.380.483.385.6

3.83.94.04.1

4.24.24.34.4

- 7 . 3- 5 . 8- 3 . 2- 1 . 6

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

785.8793.4802.2802.1

831.7847.3855.2


210


TABLE B-14.—Relation of national income and personal income, 1929-71


Year or quarter

1929..

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

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

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

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

1970..1971 P.

1970: III..III.IV..

1971: I...II..III.IV v

785.8793.4802.2802.1

831.7847.3855.2

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

414.5427.3457.7481.9518.1564.3620.6653.6711.1763.7

795.9850.8

Less:

Corpo-rate

profitsand in-ventory

valuationadjust-ment

10.5

7.02.01 2

- l ! 21.73.45.66.84.96.3

9.815.220.324.423.819.219.325.633.030.8

37.742.739.939.638.046.946.145.641.151.7

49.950.355.758.966.376.182.478.784.378.6

JO. 880.7

Contri-butions

forsocialinsur-ance

0.2

.3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.26.16.05.75.25.7

6.98.28.78.89.8

11.112.614.514.817.6

20.721.424.026.927.929.638.042.447.154.0

57.665.2

Wageaccruals

lessdis-

burse- ;

ments

0.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.2- . 2

.0

.0

.0

.0

.0

.0

.1

.0- . 1

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

Gov-ernmenttransfer

paymentsto per-

sons

0.9

1.02.11.41.51.61.82.91.92.42.5

2.72.62.62.53.15.6

10.811.110.511.6

14.311.512.012.814.916.117.119.924.124.9

26.630.431.233.034.237.241.148.756.162.2

75.690.5

>lus

Interestpaidby

govern-ment(net)

and byconsumers

2.5

1.81.81.71.61.71.7L.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

15.115.016.117.619.120.522.223.626.129.0

31.731.9

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

13.413.815.216.517.819.820.821.423 624.4

25.025.5

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

1.92.02.12.32.52.73.03.13.43.7

3.94.3

Equals:

Personalincome


69.871.573.069.0

79.582.580.0

56.257.458.458.5

64.064.665.466.6

2.5- 2 . 1- . 4

.0

.0

.0

.0

.0

67.477.377.280.7

83.792.292.593.3

30.931.132.232.4

31.831.432.232.3

25.024.925.225.0

25.625.425.725.3

3.83.94.04.1

4.24.24.34.4

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

401.0416.8442.6465.5497.5538.9587.2629.3688.9750.3

803.6857.0

784.3803.8809.8816.7

833.5853.4864.6876.6


211


TABLE B-15.—Disposition of personal income, 1929-71

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

Per-sonal

transferpay-

mentsto for-eigners

Equals:Per-

sonalsaving

Percent of disposablepersonal income

Personaloutlays

Total

Con-sump-tion

expend-itures

Per-sonalsaving

1929..

1930..1931..1932..19331934..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..

1970..1971 v

1970:

1971:

I...I I . . .III..IV..

I...I I . .ML.IV p.

Billions of dollars Percent

85.9

77.065.950.247.054.060.468.674.168.372.8

78.396.0

122.9151.3165.3171.1178.7191.3210.2207.2

227.6255.6272.5288.2290.1310.9333.0351.1"361.2383.5

401.0416.8442.6465.5497.5538.9587.2629.3688.9750.3

803.6857.0

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

50.952.457.460.959.465.775.483.097.9

116.2

115.9115.8

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

350.0364.4385.3404.6438.1473.2511.9546.3591.0634.2

687.8741.2

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

333.0343.3363.7384.7411.9444.8479.3506.0551.2596.3

633.7680.8

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6

615.8662.2

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

10.111.312.413.214.315.8

16.917.7

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

.7

.8

.9

.9

.9

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

13.117.318.118.316.415.820.6^20.722.319.1

17.021.221.619.926.228.432.540.439.837.9

54.160.4

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

95.194.294.495.194.094.093.692.693.394.0

92.191.9

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

92.992.092.292.791.691.591.190.190.791.4

89.589.3

5.0

4.64.1

- 1 . 3- 2 . 0

.73.75.45.3

3! 7

5.111.823.625.025.519.79.54.37.15.0

6.37.67.67.26.45.77.06.77.05.6

4 . ^5.85.64.96.0 I6.06.47.4*6.76.0

7.98.1

Seasonally adjusted annual rates Seasonally adjusted

784.3803.8809.8816.7

833.5853.4864.6876.6

116.7118.0113.5115.2

111.6113.8116.0121.8

667.6685.7696.2701.5

722.0739.6748.5754.8

621.5631.5638.9643.0

663.3676.0687.6696.5

604.0613.8620.9624.7

644.9657.4668.8677.7

16.516.817.117.4

17.617.717.817.9

1.01.0.9.9

.9

.91.0.9

46.254.257.458.5

58.663.661.058.4

93.192.191.891.7

91.991.491.992.3

90.589.589.289.1

89.388.989.489.8

6.97.98.28.3

8.18.68.17.7


212


TABLE B-16.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 dollars, 1929-71

Year or quarter

1929

1930193119321933 .193419351936193719381939

194019411942. . .1943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965 :196619671968 . .1969

19701971*

1970: 1IIIIIIV

1971: 1IIIIIIV*

Disposable personal income

Total (billionsof dollars)

Currentdollars

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

350.0364.4385.3404.6438.1473.2511.9546.3591.0634.2

687.8741.2

667.6685.7696.2701.5

722.0739.6748.5754.8

1958dollars

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 3381.3407.9435.0458.9477.5499. 0513.5

531.5550.6

524.4533.0536.0532.5

542.7550.5553.2556.0

Per capita(dollars)

Currentdollars

683

605516390362414459518552504537

573695867976

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

1,3641,4691,5181,5831,5851,6661,7431,8011,R311,905

1,9371,9842,0662,1392,2842,4362,6052,7512,9463,130

3,3583,581

1958dollars

1,236

1,1281,077

921893952

1,0351,1581,1871,1051,190

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

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

1,8831,9101,9692,0162,1262,2392.3382,4042,4872,535

2,5952,660

Personal consumption expenditures

Total (billionsof dollars)

Currentdollars

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

325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6

615.8662.2

1958dollars

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

316.1322.5338.4353.3373.7397.7418.1430.1452.7469.3

475.9491.9


3,2723,3533,3953,410

3,5003,5773,6113,622

2,5702,6062,6132,588

2,6312,6632,6692,668

604.0613.8620.9624.7

644.9657.4668.8677.7

474.4477.1477.9474.2

484.8489.4494.3499.2

Per capita(dollars)

Currentdollars

634

567487389364406437483516492510

536604656726782855

1,0141,1151,1841,185

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

1,8001,8251,9041,9822,0922,2232,3732,4772,6732,861

3,0073,199

2,9613,0013,0273,037

3,1273,1803,2273,252

1958dollars

1,145

1,0591,016

919897934985

1,0801,1101,0791,131

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

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

1,7491,7561,8151,8671,9432,0482,1282,1652,2572,316

2,3242,376

2,3252,3332,3302,305

2,3502,3672,3852,395

Popu-lation(thou-

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

180,667183,672186.504189,197191 833194,237196,485198,629200,619202, 599

204,800207,006

204,012204.526205,107205, 729

206,259206,760207,276£08,423

• 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.

Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).

213


TABLE B-17.—Sources of personal income, 1929-71


Year or quarter

1929 . . . .

19301931 . .19321933193419351936193719381939

19401941194219431944 . .19451946194719481949

1950 .195119521953 . . . .195419551956195719581959

1960196119621963196419651966196719681969

19701971 v

1970- 1IIIII . . . .IV

1971: 1IIIII... .IV p.

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

401.0416.8442.6465.5497.5538.9587.2629.3688.9750.3

803.6857.0

784.3803.8809.8816.7

833.5853.4864.6876.6

Wage and salary disbursementsl

Total

50.4

46.239.130.529 033.736.741 946.143.045.9

49.862 182.1

105.6116 9117.5112.0123 0135.3134.6

146.7171.0185 1198.3196.5211 3227.8238.7239 9258.2

270.8278.1296.1311 1333.7358.9394.5423.1464.9509.6

541.4574.2

532.2540.6545.6547.2

561.4571.0577.3586.9

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 7134.1144.5159.3166.5181.5197.4

200.7205.7

202.2200.9201.4198.4

202.5205.7205.6209.0

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

100.6107.2115.6128.1134.2145.9157.6

158.3160.8

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

100.3109.2120.0

129.1138.8

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

41.544.046.849 954 158.363.770.578.588.1

96.7105.9

Seasonally adjusted annua

160.1158.9159.1155.1

158.9160.7160.5163.1

126.0127.9130.7131.8

135.3137.9139.6142.3

94.395.697.299.7

102 6104.9107.1108.9

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

48.752.256.059.564.369.377.785.895.7

104.1

114.8123.8

1 rates

109.8116.2116.2117.3

121.0122.6125.0126.7

Otherlabor

in-come1

0.6

.6

.5

.5

.4

.4

.5

.6

.6

.6

.6

.7

.7

.91.11.51.81.92.32.73.0

3.84.85.36.06.37.38.49.59.9

11.3

12.012.713.914.916.618.720.722.325.428.2

30.833.7

29.830.431.232.0

32 633.434.134.6

Proprinc

Busi-nessand

profes-sional

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

34.235.637.137.940.242.445.247.349.550.3

51.052.1

50.251.051.451.5

51 651.952.352.5

ietors'Dme

Farm>

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

12.012.813.013.112.114.816.114.814.716.8

15.816.3

17.816.614.514.4

14.815.217.018.1


214


TABLE B-17.—Sources of personal income, 7929-71—Continued


Year orquarter

1929

19301931193219331934...19351936193719381939. . . .

194019411942..1943.1944...19451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

19701971 v

1970: I.

IV

1971: I.

IllIV 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

15.816.016.717.118.019.020.021.121.222.6

23.324.3

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

13.413.815.216.517.819.820.821.423.624.4

25.025.5

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

23.425.027.731.434.938.743.648.052.958.8

64.767.5

Transfer payments

Total

1.5

1.52.72.22.12.22.43.52.42.83.0

3.13.13.13.03.66.2

11.311.711.212.4

15.112.513.014.016.017.318.521.425.726.6

28.532.433.335.336.739.944.151.859.665.9

79.694.7

Old age,survivors,disability,and healthinsurancebenefits

6.6.0.0

.0

.1

.1

.2

.2

.3

.4

.5

.6

.7

1.01.92.23.03.64.95.77.38.5

10.2

11.112.614.315.216.018.120.825.730.333.0

38.544.8

Stateunem-ploy-

ment in-surancebenefits

0.0.4.4

.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

3.95.8

Vet-erans

hpnpfifc

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

4.64.84.85.05.35.65.76.67.38.3

9.711.5

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

10.010.911.212.212.914.015.717.520.022.5

27.432.6

Less:Personalcontri-butions

for socialinsur-ance

0.1

.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

10.311.812.513.417.720.522.826.3

28.031.2


Non-agricul-

turalpersonalincome 3

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

385.2400.0425.5448.1480.9519.5566.3609.4668.8727.7

781.4834.0

23.023.223.423.7

23.824.224.524.6

25.024.925.225.0

25.625.425.725.3

62.763.765.666.7

66.666.768.168.6

71.181.181.284.8

87.996.496.997.7

34.241.439.039.4

40.747.045.645.9

2.63.64.25.1

5.06.16.36.0

9.19.59.9

10.4

11.011.411.511.9

25.226.728.129.8

31.131.933.434.0

27.427.828.328.4

30.731.031.331.7

760.0780.8788.9796.0

812.0831.4840.8851.9

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

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.


215


TABLE B—18.—Sources and uses of gross saving, 1929-71


Year orquarter

1929

193019311932 . .1933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

19701971 v

1970: L ._ .I I —III —IV...

1971: I . . . .II.. .III...IV*

Gross private saving and government surplus or deficit,national income and product accounts

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

101.0115.3124.9119.5128 3141.0

140.2152.8

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

102.4113.1123.8133.4135 2133.5

153.4173.1

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

17.021.221.619.926.228.432.540.439 837.9

54.160.4

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

56.858.766.368.876.284.791.393.095 495.6

99.3112.7

Government surplusor deficit ( - )

Total

1.0

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

- 1 . 8- 2 . 2

- . 7- 3 . 8

-31 .4-44 .1-51 .8-39 .5

5.414.48.5

- 3 . 2

7.85.8

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

2.74.9

-12 .5- 2 . 1

3.7- 4 . 3- 2 . 9

1.8- 1 . 4

2.21.1

-13 .9- 6 8

7.4

-13.1-20 .3

Fed-eral

1.2

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

- 2 . 1- 2 . 2

- 1 . 3- 5 . 1

-33 .1-46.6-54 .5-42.1

3.513.48.4

- 2 . 4

9.16.2

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

4.05.72.1

-10 .2- 1 . 2

3.5- 3 . 8- 3 . 8

- 3 . 01.2

- . 2-12 .4- 6 5

7.3

-13 .6-23 .3

Stateandlocal

- 0 . 2

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

.6

.5

.7

.4

.6

1.82.52.72.61.91.0.1

- 1 . 2- . 4

j

- 1 . 1- 1 . 3- . 9

- 1 . 4- 2 . 3- . 8

.2- . 5

.91.21.71.01.3

- 1 . 6_ 3

.1

.53.0

Capitalgrants

receivedby theUnitedStates

0.9

Gross investment

Total

17.0

11.05.81.11.63.86.48.4

11.87.6

10.2

14.619.09.63.55.09.1

35.242.947.936.2

51.859.551.650.551.366.971.671.260.773.0

76.574.785.590.399.7

112.2123.9118.8125 6136.9

136.6148.9

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

54.159.351.952.651.767.470.067.960.975.3

74.871.783.087.194.0

108.1121.4116.6126.0137.8

135.3150.8

Netforeigninvest-ment^

0 8

72

.224

_ 1

11 1.9

1.51.1

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

4 68.91 9.5

- 2 2.2

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

- . 2- 2 . 3

1.73.02.53.15.74.12.42.2

- 4- . 9

1.3- 2 . 0

Statis-ticaldis-

crep-ancy

0.7

- 8.7.36

.5- . 21.2

o.61.3

1.0.4

- 1 . 1- 2 . 0

2.53.9.1.9

- 2 . 0.3

1.53.32.23.02.72.1

- 1 . 1.0

1.6- . 8

- 1 . 0- . 8

.5- . 3

- 1 . 3- 3 . 1- 1 . 0- . 7

- 2 . 7- 4 . 1

- 4 . 5- 4 . 7


139.0141.1142.6138.3

149.2154.6151.9

142.4153.3157.8160.0

166.2175.4174.0

46.254.257.458.5

58.663.661.058.4

96.299.1

100.4101.5

107.6111.9113.0

- 3 . 4-12 .2-15.2-21.7

-17 .1-20 .9-22 .2

- 4 . 5-14 .1-15 .4-20 .5

-16 .2-23 .7-26 .7

1.11.9.2

- 1 . 3

- . 82.84.6

0.9.9.9.9

.7

.7

.7

.7

132.6136.2140.2137.5

145.6150.3147.8151.7

131.2134.1138.6137.3

143.3152.9150.8156.5

1.42.01.6.2

2.3- 2 . 5- 3 . 0- 4 . 8

- 7 . 3- 5 . 8- 3 . 2- 1 . 6

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

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


216


TABLE B-19.—Saving by individuals, 1946-711


Year orquarter Total

Increase in financial assets

Total 2

Cur-rencyandde-

mandde-

posits

Sav-ingsac-

ountsGov-ern-ment

bonds:

Securities

lorpo-rateandfor-eign

bonds

Corpo-rate

stock *

Insur-anceandpen-sionre-

serves

Non-farm

homes

Net investment in

Con-sumer

du-rables

Non-cor-po-rate

busi-ness

assets

Mort-gagedebton

non-farm

homes

Less:Increase indebt

Con-sumercredit

Otherdebt*

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

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

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

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

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

1970

1970: LII.IllIV..

1971: I . . .IL.Ill

25.420.723.619.2

27.330.326.329.927.9

33.634.933.532.533.2

28.731.337.338.945.2

52.556.162.063.556.1

71.4

18.413.39.2

10.0

13.718.021.422.122.3

27.928.928.031.134.9

27.734.939.344.951.3

56.054.465.969.660.9

74.6

4.8- . 5

- 2 . 5- 1 . 9

2.24.61.7.5

1.9

1.2- . 53.3

.4

- 1 . 91.32.95.56.5

7.33.19.5

11.36.0

4.8

6.33.42.32.6

2.54.57.78.39.2

9.512.114.011.4

12.417.423.423.023.9

26.419.133.728.613.3

32.2

- 1 . 22.31.21.8

. 4- . 5

. 82.4

.9

5.93.41.9

- 1 . 98.1

2.9.7.8

4.34.2

4.49.5

- . 46.2

14.7

- 1 . 2

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

- . 8- . 2

. 0

. 0- . 4

1.1.9

1.01.1.3

.2

.3- . 6- . 6_ 5

.72.03.65.45.4

12.2

1.11.11.0.7

.71.61.6.9.7

1.12.01.51.5.6

- . 4.4

- 2 . 1- 2 . 8

.0

- 1 . 9- 1 . 0- 4 . 1- 7 . 5- 3 . 8

- 2 . 6

5.35.45.35.5

6.96.27.67.97.9

8.49.69.5

10.111.5

11.712.212.813.915.3

17.218.018.919.820.2

23.5

4.26.9

10.59.0

13.713.512.813.513.7

17.716.413.812.716.5

14.512.012.812.612.5

12.011.59.2

12.812.8

9.7

5.87.57.17.0

10.25.53.66.44.9

9.95.94.9

.65.5

5.12.96.78.9

11.2

14.815.212.416.715.5

8.4

3.33.27.42.4

6.44.52.51.62.7

3.51.92.43.33.2

2.13.25.66.96.2

9.07.28.27.78.0

7.7

3.84.35.04.1

7.47.16.47.78.6

12.211.28.88.8

12.6

10.810.912.714.816.0

15.212.310.514.916.2

12.5

2.73.22.82.9

4.11.24.83.91.1

6.43.52.6

.26.4

4.61.85.87.98.5

10.07.24.6

11.19.3

4.3


61.377.373.573.7

87.799.682.8

57.475.384.980.7

90.4114.497.3

5.57.55.11.1

10.915.74.6

5.030.744.249.1

97.967.857.6

16.- 3 .- 5 .

- 1 1 .

- 4 9 .- 5 .—•

0748

991

12.310.211.314.9

9.57.86.1

-6 .7- . 1

.7- 4 . 3

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

202621.

126

25.8

27.28.25.

546

10 610.289

12

09

015.216. 7

10.410.79.23.1

15.117.520.8

7.37.98.57.2

12.610.012.2

11.12.13.13.

13.22.27.

0270

171

466.

4.9.

12.

8122

006

- 0 . 22.62.62.4

5.22.82.92.16.0

6.83.54.26.27.9

5.48.88.5

11.911.4

13.912.718.617.415.5

12.1

8.58.5

17.213.9

25.225.824.5

1 Individuals' saving sector includes households, private trust funds, nonprofit institutions, farms, and other noncorporatebusiness.

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

pension reserves.8 Security credit, policy loans, noncorporate business debt, and other debt.

Source: Board of Governors of the Federal Reserve System.

217


TABLE B-20.—Number and money income (in 1970 dollars) of families and unrelated individuals t

by race of head, 1947-70

Year

FAMILIES194719481949

1950195119521953195419551956195719581959

1960 _196119621963196419651966196621967 21968 219692

19702

UNRELATEDINDIVIDUALS:»1947. . .1948..1949

19501951.19521953.19541955. . . . . . .1956195719581959

1960196119621963.. . .1964196519661966 2.. . . .19672196821969219702

Total

Totalnum-ber

(mil-lions)

37.238.639.3

39.940.640.841.242.042.943.543.744.245.1

45.546.347.047.447.848.348.9

49.149.850.551.2

51.9

8.28.49.0

9.49.19.79.59.79.99.8

10.410.910.9

11.111.211.011.212.112.112.4

12.313.113.814.5

15.4

Medianincome

$5,2595,1535,066

5,3855,5475,7036,1716,0236,4286,8426,8506,8267,216

7,3767,4577,6597,9278,2278,5598,902

8,9779,2859,6339,990

9,867

$1,7441,6601,763

1,7461,7862,0722,0301,7661,9102,0432,0851,9962,074

2,2562,2762,2512,2832,4832,6502,719

2,7953,0993,113

3,137

With incomesunder $3,000

Num-ber

(mil-lions)

8.48.99.7

9.18.48.27.98.77.97.27.37.47.2

7.17.16.86.56.05.75.4

5.35.04.44.4

Per-cent

22.523.124.6

22.820.720.019.120.818.416.516.816.715.9

15.615.414.413.712.611.811.1

10.910.18.88.6

4.6 8.9


Num-ber

(mil-lions)

3.73.94.1

4.34.24.04.14.54.34.04.14.44.3

4.14.13.83.83.93.63.5

3.73.43.5

3.6

Per-cent

45.647.045.4

46.146.740.842.846.043.041.439.740.239.0

37.336.434.334.032.429.628.6

28.324.52-13

23.2

White

Totalnum-ber

(mil-lions)

34.135.3

38.239.039.539.740.240.9

41.141.942.442.743.143.541.0

44.144.845.446.0

46.5

7.27.3

8.28.58.58.99.29.3

9.69.69.59.7

10.410.510.8

10.711.312.012.5

13.4

Medianincome

$5,4785,3665,282

5,6015,7706,0206,4156,2916,7057,1487,1327,1187,517

7,6647,7838,0098,3078,5908,9259,255

9,3419,6289,97210,362

10,236

$1,8391,7401,875

1,8391,8802,2402,1561,9022,0392,1082,2232,1462,216

2,4392,4472,4082,3932,6162,7642,826

2,9053,2673,270

3,283


Num-ber

(mil-lions)

6.77.1

7.06.25.65.75.75.4

5.55.65.34.94.74.44.3

4.13.93.43.4

3.5

Per-cent

19.520.221.8

20.318.017.417.118.316.014.214.314.213.3

13.413.312.411.610.910.29.7

9.38.77.57.3

7.5


Num-ber(mil-I ions)

3.23.3

3.63.53.43.33.53.5

3.43.33.13.13.23.02.9

3.12.82.8

2.9

Per-cent

44.145.543.7

44 745.639.441.943.941.040.137.638.337.2

35.134.232.332.230.828.227.1

27.023.022.6

21.4

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

5.05.05.15.2

5.4

1.01.1

1.51.41.31.51.61.6

1.51.61.51.51.6

1.61.81.82.0

1.9

Medianincome

$2, 8072,8532,691

3,0143,0383,4213,5933,4933,7023,7673,8133,6453,883

4,2364,1424,2734,4014,8064,9305,536

5,5915,9786,2496,568

6,516

$1,2971,2731,335

1,3191,3931,5351,6831,2831,3731,5571,4531,4661,460

1,4451,5041,6151,6541,8382,0172,052

2,1482,2722,313

2,243


Num-ber

(mil-lions)

1.71.7

1.71.61.61.61.61.7

1.61.61.51.61.41.31.2

1.21.11.01.0

1.1

Per-cent

53.652.355.1

49.749.442.640.744.441.039.539.641.239.9

36.436.633.932.628.527.324.5

24.122.519.818.9

20.1


Num-ber

(mil-lions)

0.5.6

Per-cent

55.557.355.3

54.952.949.146.557.854.249.351.751.151.3

51.949.947.046.742.338.137.8

36.533.935.5

35.1

1 The term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residingtogether; 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.

218


POPULATION, EMPLOYMENT, WAGES, ANDPRODUCTIVITY

TABLE B-21.—Population by age groups, 1929-71

[Thousands of persons]

July 1

1929

19301931193219331934

19351936193719381939 .

19401941194219431944

19451946194719481949

195019511952 . . .19531954

19551956195719581959

196011961 i19621 . .1963 1 . .19641

196511966 i196711968 i19691

19701

1970 219712

Total

121,767

123,077124,040124,840125, 579126.374

127,250128,053128,825129,825130,880

132,122133, 402134,860136,739138,397

139 928141,389144,126146,631149,188

152,271154 878157,553160,184163 026

165,931168 903171,984174,882177,830

180,684183 756186.656189,417192,120

194 592196.920199 114201, 152203,216

205, 395

204, 800207, 006

Age (years)

Under 5

11,734

11,37211,17910,90310,61210,331

10,17010,04410, 00910,17610,418

10,57910,85011,30112,01612,524

12,97913,24414,40614,91915,607

16,41017,33317,31217,63818 057

18, 56619 00319,49419,88720,175

20,36420 65720,74620.75020,670

20 40419,81119 16818, 50617, 960

17,741

17,18417,328

5-15

26,800

26,98326,98426,96926,89726,796

26,64526,41526,06225,63125,179

24,81124,51624,23124,09323,949

23,90724,10324,4^825,20925,852

26,72127,27928, 89430,22731,480

32,68233,99435,27236,44537,368

38,50439,76841,16841,62042,294

42 96343,82244 48844,97845, 260

45, 289

44,70144, 284

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

8,7448,9169,1959,54310,215

10,69811,09311,25812,06112,819

13,56314,30414 16714,33814, 655

15, 082

15.26515, 589

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 17815, 74816, 484

17,176

17,17618, 090

25-44

35,862

36,30936,65436,98837,31937,662

37,98738,28838, 58938,95439, 354

39, 86840, 38340,86141,42042, 016

42, 52143, 02743,65744,28844,916

45,67246,10346,49546,78647, 001

47,19447,37947,44047,33747,192

47,13447 06146,96846.93246,881

46 80746,85547 08447, 62147, 994

48, 388

48, 40448,815

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 2?440, 82741,393

41,893

41.91742,345

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 80419,13419,470

19,825

20,15620, 555

1 Data for 1960-70 shown here are based on the 1960 Census. See Table B-16 for total population for these years basedon the 1970 Census. Data bv age on the 1970 Census basis are now available only for 1970. See below.

2 Based on the 1970 Census/** "~ " ~

Note.—Data for Armed Forces overseas included beginning 1940. Includes Alaska and Hawaii beginning 1950.

Source: Department of Commerce, Bureau of the Census.

219


TABLE B-22.—Noninstitutional population and the labor force, 1929-71

Year or month

Nonin-stitu-tionalpopu-lation

Totallaborforce

(includ-ing

ArmedForces)

ArmedForces

Civilian labor force

Total

Employment

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-ment

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent ofcivilianlaborforce

1929

1947..1948..1949..

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

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

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

1965.1966.1967.1968.1969.

1970.1971..

1970: Jan..Feb...Mar..Apr..May..June..

July..Aug..Sept.Oct..Nov_.Dec.

Thousands of persons 14 years of age and over Percent

19301931193219331934

19351936193719381939

19401941194219431944

19451946 . ..1947

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

49,82050,42051,00051,59052,230

52,87053,44054,00054,61055,230

55,64055,91056,41055, 54054,630

53, 86057,52060,168

47,630

45,48042,40038,94038,76040,890

42,26044,41046,30044,22045,750

47,52050,35053,75054,47053,960

52,82055,25057,812

10,450

10,34010,29010,17010,0909,900

10,11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,256

37,180

35,14032,11028,77028,67030,990

32,15034,41036,48034,53036,140

37,98041,25044,50045,39045,010

44,24046,93049, 557

1,550

4,3408,02012,06012,83011,340

10,6109,0307,700

10,3909,480

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

140,182142,596

139,09r

139,298139,497139,687130,884140,046

140,259140,46?140,67C140,886141,091141,308

60,94162,08062,903

63,85865,11765,73066,56066,993

68,07269,40969,72970,27570,921

72,14273,03173,44274, 57175,830

77,17878,893P0,79382,27284,239

85,90386,929

U, 10584,62585,00885,23184,96887,230

87,95587,24885,65686,25486,38616,165

1,1,1,

I3!3,3,3,

3,2,2,2,2,

2,2,2,j>2,

?t

3*,3,3.3,

3,2,

33,3333

333333

591459617

65010059?545350

049857800636552

514572828738739

723123446535506

188817

386342318271227180

154133109079039013

59,60,61,

62,62,62,63.63,

65,66,66,67,68,

350621286

208017138015643

023552929639369

69, 62870, 45970,71,73,

74,75,77,78,

614833091

455770347737

80,733

8284

808181818184

848482838383

715113

719283690960741050

801115547175347152

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

78,62779,120

77,31377,48977,^5778,4087P,35779,382

80,29179,89478,25678,91678,74178,515

7,7,7,

7,6,6,6,6,

6,6,5,5,

891629656

160726501261206

449283947586

5,565

5,4585,2004,4,4,

4,3,3,3.3,

3,3,

2,2,3,334

433332

944687523

361979P44817606

462387

915994171531725208

II*782525394226952

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

75,16575,732

74, 39<?74,49574,78674,87774,63275,174

76,17376,11274,73075, 52275, 51575,563

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

4,0884,993

3,4063,7943,7333,5523,3844,669

4,5104,2204,2924,2594,6074,637

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

61.361.0

60.560.860.961.060.762.3

62.762.160.961.261.261.0

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

4.95.9

4.24.74.64.34.15.6

5.35.05.25.15.55.6


220


TABLE B-22.—Noninstitutional population

Year or month

1971: JanFebMarApr.MayJune

JulyAugSeptOctNov.Dec

1970- JanFebMarAprMayJune. .

JulyAug.SeptOctNov . . . .Dec

1971: JanFebMarAprMayJune

JulyAugSept.Oct

• Nov. . _.Dec

•• - J ' > • ' • • •

Nonin-stitu-tionalpopu-lation

Totallaborforce

(includ-ing

ArmedForces)

ArmedForces

and the labor force, 1929-71—Continued

Civilian labor force

Total

I

Total

Imployment

Agri-cul-tural

Non-agri-cul-tural

Unem-ploy-ment

Thousands of persons 16 years of age and over

141,500141,670141,885142, 088142, 285142,482

142,685142, 886143,104143,321143,517143, 723

85,62885,65385, 59885, 78085,95487, 784

88,80888,45386, 88487,35287,71587, 541

85, 44585 52985, 97386, 04085,73185, 568

85, 95885, 90286 05486, 34586, 45686,498

86, 70586,31286, 38586,67086, 83686,217

86, 72887, 08887, 24087, 46787,81187, 883

2,9762,9502,9302,8822,8502,816

2,7972,7752,7492,7172,6962,658

82,65282,70382,66882, 89883,10484, 968

86,01185,67884,13584,63585,01984, 883

<

82, 05982 18782, 65582, 76982, 50482, 388

82, 80482, 76982, 94583, 26683,41783, 485

83, 72983, 36283, 45583,78883, 98683,401

83,93184 31384, 49184, 75085, 11585, 225

77, 23877,26277,49378, 20478, 70979, 478

80,68180,61879,29580, 06580, 20480,188

2,8772,8463,0423,5053,5983,920

3,9713,7643,4443,4703,2622,948

seasonally adjusted

78, 85378 75279, 01878,90878, 51478,412

78, 63178, 51478,44878,67878, 54878, 427

78,71878,47578, 44678,73278,83078, 600

79, 01479 19979, 45179,83280, 02080,098'

3,4253 4583,5243,5553, 5453,547

3,5063,4223,4383,3403,3793,395

3,4063,2853, 3873 5403,4123,301

3 3743 4073 3633,4163,4193,400

74, 36174,41574,45274,69975,11175,559

76,71076,85375,85176, 59576,94277, 240

75, 42875 29475, 49475, 35374, 96974, 865

75, 12575, 09275,01075 33875,16975,032

75 31275, 19075,05975 19275,41875, 299

75 64075 79276 08876,41676 60176, 698

5,4145,4425,1754,6944,3945,490

5,3305,0614,8404,5704,8154,695

3 2063 4353,6373,8613 9903,976

4 1734,2554,4974 5884 8695,058

5 0114 8875,0095 0565,1564,801

4 9175 1145 0404,9185 0955,127

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent ofcivilianlaborforce

Percent

60.560.560.360.460.461.6

62.261.960.760.961.160.9

6.66.66.35.75.36.5

6.25.95.85.45.75.5

3 94 24 44 74 84 8

5 05 15.45 55 86.1

6 05 96 06 06 15.8

5 96 16 05.86 06.0f.q

Note.—Labor force data in Tables B-22 through B-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 data,comparability with other series, etc., see "Employment and Earnings."

"^"^Seasonally adjusted data in this table hayg_been revised and do not agree with those published by the Bureau of LaborStatistics beginning in February 1971. They are "suBject to correction when the annual official revision of the series ispublished. -

Source: Department of Labor, Bureau of Labor Statistics.

221451-688 0—72- -15


TABLE B-23.—Civilian employment and unemployment, by sex and age, 1947—71

[Thousands of persons 16 years of age and over]

Year ormonth

1947.1948.1949.

19501951195219531954

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964.

Employment

Total

57,039 40,58,344 41,57,652 40,

58,920 4159,962 4160,254 4161,18160,110 41

62,17163,802 43;64,07163,036 42i64,630 43,

65,778 43,65,746 43,66,702 44,67,762 44,69,305 45,

Males

Total

5801780,684

42,431",620

42,62143,38043, 354""!, 423

1,466

1965 71,088 46,3401966 ..72,895 46,9191967 74,372 47,4791968 75,920 48,1141969 .77,902 48,818!

16-19years

2,218 38,7762,345 39,3822,124 38,803

20yearsandover

2,186 39, 3942,156 39,6262,106 39,5782,135 40,296 18J501,985 39,634

2,095 40,5262,164 4 1 , " "2,117 41,2,012 40,411

19,5504i; 216 20,422" 239 20,714

. 20,6132,198 41,267 21,164

2,360 41,543 21,2,314 41,342 22,12,362 41,815 22,!2,406 42,251

,874!,089>, 525

23,1052,587 42.886 23,831

2,918 43,422 24,7483,252 43,668 25,9763,186 44,293 26,8933,255 44, 859 27, 8073,430 45,388,29,084

Females

Total

16,04516,61816,723

17,34018,18218,570

18,490

1970 78,627 48,960 3,407 45,553 29,6671971 79,120 49, 245, 3, 470 45, 775 29, 875

I I I I

1970: Jan....Feb...Mar...Apr...May...June..

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

1971: Jan....Feb...Mar...Apr...May...June..

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

78, 853 49,78, 752 49,79, 018 49,78,908 49,78, 51478, 412

78,63178,514

16-19years

1,6911,683 14,9371,588

,517,611,612 16,958,584

,570

,769,793,833,849

2,497

20yearsandover

14,354

15,137

15,82416,570

17,164,490 17,000

, 548 18, 002,654 18,767,663 19,052

19,043,640 19,524

20,10520,29620,69321,257

,929 21,903

2,118 22,6302,469 23,510

24,3972, 525 25,2812,686j26,397

2,734;26,9332, 725 27,149

Unemployment

Total

2,3112,2783,637

3,2882,0551,8831,8363,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,832

4,0884,993

Males

Total

1,6921,5612,572

2,2391,2211,1851,2022,344

1,8541,7111,8413,0982,420

2,4862,9972,4232,4722,205

1,9141,5511,5081,4191,403

2,2352,776

16-19years

270255352

318191205184310

274269299416398

425479407500487

479432448427441

599691

20yearsandover

1,4221,3052,219

1,9221,029

9801,0192,035

1,5801,4421,5412,6812,022

2,0602,5182,0161,9711,718

1,4351,1201,060

993963

1,6362,086

Females

Total

619717

1,065

1,049834698632

1,188

9981,0411,0181,5041,320

1,3661,7171,4881,5981,581

1,4521,3261,4681,3971,428

1,8532,217

16-19years

Seasonally adjusted

,1461,0681,2791,069

49, 03148, 845

48, 85148, 761

78:448 48,91278,678 48,90978,548 48,93278,427 48, 845

78,718 48,78, 475 48,78, 44678, 732 49,78,830 49,78,600 49,

79, 014 49,:79,199 49,;79,451 -79,832 49i I80, 020 49,:

:, 8901,734

48, 809• 1 , 1 1 01,1761,068

1,3371,318

49, 4301,6811,726

80, 098 49,669

3, 496 45,65C3, 482 45, 58(3, 565 45, 7143, 420 45,64S3,420 45,6113, 296 45, 549

3,3513,3013, 380 45;

45, 50045, 460- 5 3 2

29, 78029, 75329,536

3, 359 45, 550 29, 7693, 436 45,496 29,6163,477 45, 368 29, 582

29,70729,68429, 73929, 83929,48329, 567

3,454 45,3, 459 45,3, 398 45, 4113,492 4 5 , " "3,45145,3,306 45, 762 29, 532

3,458 453, 425 45, 893 29,3,461 45,9693, 557 46,124 3011513,660 46, 066 30, 2943, 589 46, 080 30,429

5,436 29, 8285, 275 29, 7415, 411 29,6375,618 29,6225, 725 29,654

879 29,677"' 29,881

30, 021

2,7682,7972,7612,7682,86C2,689

2,7232,7092,763

26,93926, 88726,97827, 07126,62326, 878

27, 05727,04426, 773

2, 728 27, 0412,646 26,970

2,751

2, 713 26,2, 737 27,2, 702 27,

2,630 26,952

2, 730 27,0982,739 27, 0022, 730 26,907

26, 8712,803 26, 8512,604 26,928

,964,144, 319

2,680 27,4712, 723 27, 5712, 837 27, 592

3,2063,4353,6373,8613,9903,976

4,1734,2554,4974,5884,8695,058

5,0114,8875,0095,0565,1564,801

4,9175,1145,0404,9185,0955,127

1,6671,8331,8962,0952,1752,228

2,3192,3722,5182,5822,6832,831

2,7792,7022,7312,7812,8832,692

2,7212,8742,8202,7572,8442,841

491518517585593602

572609667666669717

717682685692739634

651710676702710752

1,176" 315

379510582

,747,763,851

1,9162,0142,114

2,0622,0202,0462,0892,1442,058

2,0702,1642,1442,0552,1342,089

1,5391,6021,7411,7661,8151,748

1,8541,8831,9792,0062,1862,227

2,2322,1852,2782,2752,2732,109

2,1962,2402,2202,1612,2512,286

144152223

195145140123191

176209197262256

286349313383386

395404391412412

506567

20yearsandover

475564841

854689559510997

823832821

1,2421,063

1,3681,1751,2161,195

1,056921

1,078985

1,016

1,3471,650

495458481524452465

450516543554596589

597577619591579506

566558579550568594

044144260242

,363,283

,404,367,436,452,590,638

,635,608,659,684,694,603

,630,682,641

1,6111,6831,692

Note.—See Note, Table B-22.Seasonally adjusted data in this table have been revised and do not agree with those published by the Bureau of Labor

Statistics beginning in February 1971. They are subject to correction when the annual official revision of the series ispublished.


222


TABLE B-24.—Selected unemployment rates, 1948-71

[Percent]

Year or month

19481949.

1950.19511952.1953.1954

19551956195719581959.

1960.1961.1962.19631964.

19651966.196719681969.

19701971

1970: Jan..Feb.Mar_Apr_May.June

July.Aug.Sept.Oct..NovDec.

1971: Jan..Feb.Mar.Apr.May.June


Allwork-

ers

3.85.9

5.33.33.02.95.5

4.44.14.36.85.5

5.56.75.55.75.2

4.53.83.83.63.5

4.95.9

By sex and age

Bothsexes16-19years

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

15.216.9

Men20

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

3.54.4

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

4.85.7

By color

White

3.55.6

4.93.12,82.75.0

3.93.63.86.14.8

4.96.04.95.04.6

4.13.43.43.23.1

4.55.4

Negroand

otherraces

5.98.9

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

8.29.9

By selected groups

Expe-riencedwageand

salaryworkers

4.36.8

6.03.73.33.26.2

4.84.44.67.25.7

5.76.85.65.55.0

4.33.53.63.43.3

4.85.7

Mar-ried

men*

3.5

4.61.51.41.74.0

2.82.62.85.13.6

3.74.63.63.42.8

2.41.91.81.61.5

2.63.2

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

4.55.5

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

6.27.4

Laborforce

time lost*

Seasonally adjusted

3.94.24.44.74.84.8

5.05.15.45.55.86.1

6.05.96.06.06.15.8

5.96.16.05.86.06.0

13.613.513.615.214.315.1

14.415.816.516.717.217.6

17.516.917.617.017.416.2

16.517.116.916.716.717.3

2.52.82.93.23.43.4

3.73.73.94.04.24.5

4.34.34.34.44.54.3

4.34.54.54.34.44.3

3.74.14.54.44.94.6

4.94.85.15.15.65.7

5.75.65.85.95.95.6

5.75.85.75.55.85.8

3.63.84.04.24.54.3

4.64.85.05.25.55.6

5.65.35.65.65.75.2

5.35.65.45.35.75.4

6.57.17.28.37.98.4

8.38.48.89.39.09.5

9.59.69.4

10.010.59.4

10.19.8

10.510.79.3

10.3

3.73.94.24.34.84.6

4.95.05.25.45.76.1

5.85.65.85.75.85.4

5.65.75.55.45.85.9

1.92.02.22.32.52.5

2.72.82.93.03.23.4

3.33.23.23.13.33.1

3.13.23.33.03.43.3

3.43.74.04.24.64.4

4.64.75.05.15.65.7

5.55.45.55.55.85.3

5.35.55.75.45.85.8

4.65.05.25.66.06.3

6.56.97.37.37.47.8

7.67.47.47.47.57.0

7.17.68.07.27.57.5

5.15.38.16.6

6.78.06.76.45.8

5.04.24.24.03.9

5.46.4

4.34.54.85.05.54.9

5.45.55.96.16.46.4

6.46.36.56.46.85.6

6.36.56.36.56.56.4

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

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

labor force man-hours.

Note.—See Note, Table B-22.Seasonally adjusted data in the first four columns of this table have been revised and do not agree with those published

by the Bureau of Labor Statistics beginning in February 1971. They are subject to correction when the annual officialrevision of the series is published.


223


TABLE B-25.—Unemployment by duration, 1947-71

Year or monthTotal 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

1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964.

1965.1966.1967.1968.1969

1970.1971.

1970: Jan..Feb..Mar..Apr..May..June.

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

1971: Jan..Feb..Mar..Apr..May.June.

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

2,3112,2783,637

3,288?,0551,8831,8363,532

2,8522,7502,8594,6023,740

3,852< 7143,9114,0703,786

3,3662,8752,9752,8172,832

4.0884,993

1.2101,3001,756

1,4501,1771,1351,1421,605

1,3351,4121,408,753,585

,719,806,663,751,697

,628,573,634,594,629

2.1372•,234

704669

1,194

1,055574516482

1,116

815805891

1,3961,114

1,1761,3761,1341,2311,117

983779893810827

1,2891,578

234193428

425166148132495

366301321785469

503728534535491

404287271256242

427665

164116256

3571378478317

336232239667571

454804585553482

351239177156133

235517

3,2223,4173,6313,8744,0203,914

4,1374,2624,4964,6094,9235,146

5,0334,8475,0005,0855,2174,689

4,8885,1155,0734,9385,1505,127

Seasonally adjusted 1

1,8071,9281,9642,2202,1452,001

2,0802,2172,2712,3732,3332,456

2,3222,1542,1162,2762,2762,040

2,1122,3722,3442,1942,2922,439

9291,0181,1411,0951,2051,276

1,3221,3401,470,4901,7581,612

1,6241,595,6491,5601,5191,574

1,532,5351,5891,5491,6591,535

286308357369346427

458475507496555750

666614651641622609

747752672641726750

139163183195260234

236252281258325334

413455456430580564

564553567590567509

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

Note.—See Note, Table B-22.Seasonally adjusted data in this table are as published by the Bureau of Labor Statistics beginning February 1971 and

therefore do not agree with data shown in Tables B-22 through B-24.


224


TABLE B-26.— Unemployment insurance programs, selected data, 1940-71

Year or month

All programs

Cov-eredem-ploy-

ment i

Insuredunem-ploy-ment

(weeklyaver-

age) 23

Totalbenefits

paid(mil-lions

of dol-lars) 2 4

State programs

nsuredunem-ploy-

ment3

Initialclaims

Ex-haus-tions5

Insured unem-ployment as per-cent of covered

employment

Unad-justed

Season-ally ad-justed

Benefits paid

Total(mil-

lions ofdol-

lars)*

Aver-age

weeklycheck(dol-lars) •

1940194119421943194419451946194719481949195019511952..195319541955195619571958195919601961196219631964.19651966..19671968..196919701971 p.......1970:Jan..

Feb..Mar..Apr..

1971

Apr.May....June...July....AugSept...Oct ...Nov....Dec...

: Jan pFeb v..Mar p..Apr p.-May p..June p.July p.-Aug p.-Sept P-.Oct p...Nov p..Dec p..

Thousands Weekly average, thousands Percent

24,29128,13630,81932,41931,71430,08731,85633,87634,64633, 09834,30836,33437,00638, 07236,62240,01842,75143,43644,41145,72846,33446,26647,77648,43449,63751,58054,73956,34257, 97659, 99959, 528

-59, 035P 5 8 , 9 1 8

59, 228, 503, 692, 459, 209, 238

*>60, 072'59, 043'58,715

8 59,219

1,331842661149111720

2,8041,7931,4462,4741,6051,0001,0691,0672,0511,3991,3231,5713,2692,0992,0712,9941,946

' 1,9731,7531,4501,1291,2701,1871,1772,0702,3131,9581,9881,9171,8851,7781,6961,8971,8551,7461,8892,2332,6323,1943,2163,0912,7562,4432,3322,4312,3492,1742,1292,3122,664

534.7358.8350.4

80.567.2

574.92,878. 51,785.51,328.72,269.81,467.6

862.91,043.51,050.62,291.81,560.21,540.61,913.04,290.62, 854.33, 022.84,358.13,145.13,025.92,749.22,360.41,890.92,220.02,191.02, 298.6

170.1963.3321.4333.2357.2345.6315.5315.4341.5341.6328.3332.9372.1501.4568.1599.3683.6586.0470.8494.8452.1468.9425.7412.4420.6469.4

1,282814649147105589

1,295997980

1,9731,513

9691,044

9901,8701,2651,2151,4462,5261,6841,9082,2901,7831,8061,6051,3281,0611,2051,1111,1011,8052,1761,8471,8741,7981,7701,6671,5831,7611,7101,6071,7242,0172,3692,7992,7512,5772,2832,0011,8931,9931,9121,7391,7161,8792,222

2141641223629

116189187200340236208215218304226227270369111331350302

7 298268232203226201200296301355290245298246248333248244278334399427321275257238250342282236252298358

5.63.02.2

.5

.42.14.33.13.06.24.62.82.92.85.23.53.23.66.44.44.85.64.44.33.83.02.32.52.22.13.44.03.63.63.53.43.23.03.33.23.03.23.74.4

5.25.24.84.33.83.63.83.63.33.23.54.2

2.52.62.83.13.63.73.63.74.14.44.54.03.73.83.94.04.24.44.04.24.54.54.23.8

518.7344.3344.179.662.4

445.91,094.9

775.1789.9

1,736.01,373.1

840.4998.2962.2

2,026.91,350.31,380.71,733.93,512.72,279.02,726.73,422. 72,675.42,774. 72,522.12,166. 01,771.32,092.32,031.62,127.93, 848. 54,021.7

300.1312.5333.0321.5293.6292.3314.7313.1299.9305.1341.9462.0527.2557.9635.4541.9433.0452.7400.6408.9372.2390.7410.8437.8

10.5611.0612.6613.8415.9018.7718.5017.8319.0320.4820.7621.0922.7923.5824.9325.0427.0228.1730.5830.4132.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3455.4948.5149.1148.9349.2049.4649.6849.5750.6350.6451.4552.2452.4352.8353.1253.0052.7152.3252.0955.2356.0856.2556.4256.9057.10

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 (unamploymant compansation 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 banafits for Juna 1958 through June 1962 and for 1970-71.

3 Covered workers who have completed at least 1 week of unemployment.4 Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual data are net

amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.8 Preliminary; December 1970 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.

225


TABLE B-27.—Wage and salary workers in nonagricultural establishments, 1929-71

[All employees; thousands of persons]

Year ormonth

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-ble

goods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionandpub-lic

utili-ties

Whole-saleand

retailtrade

Fi-nance,insur-ance,andreal

estate

Serv-ices

Government

Fed-eral

Stateandlocal

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966.196719681969

19701971 v

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

60,81563,95565,85767,91570, 284

70, 61670, 689

10,702

9,5628,1706,9317,3978,501

9,0699,82710,7949,44010,278

10,98513,19215,28017,60217,328

15,52414,70315,54515,58214,441

15,24116,39316,63217,54916,314

16,88217,24317,17415,94516,675

16,79616,32616,85316,99517,274

18,06219,21419,44719, 78120,167

19, 36918, 608

4,715

5,3636,9688,82311,08410,856

9,0747,7428,3858,3267,489

8,0949,0899,34910,1109,129

9,5419,8349,8568,8309,373

9,4599,0709,4809,6169,816

10,40611,28411,43911,62611,895

11,19810, 589

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

7,6567,9308,0088,1558,272

8,1718,019

1,087

1,009873731744883

897946

1,015891854

925957992925892

836862955994930

901929898866791

792822828751732

712672650635634

632627613606619

622602

1,497

1,3721,214970809862

9121,1451,1121,0551,150

1,2941,7902,1701,5671,094

1,1321,6611,9822,1692,165

2,3332,6032,6342,6232,612

2,8022,9992,9232,7782,960

2,8852,8162,9022,9633,050

3,1863,2753,2083,2853, 435

3,3453,259

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

4,0364,1514,2614,3104,429

4,5044,481

6,123

5,7975,2844,6834,7555,281

5,4315,8096,2656,1796,426

6,7507,2107,1186,9827,058

7,3148,3768,9559,2729,264

9,3869,74210,00410,24710,235

10,53510,85810,88610,75011,127

11,39111,33711,56611,77812,160

12,71613,24513,60614,08414,639

14, 92215,175

1,509

1,4751,4071,3411,2951,319

1,3351,3881,4321,4251,462

1,5021,5491,5381,5031,476

1,4971,6971,7541,8291,857

1,9191,9912,0692,1462,234

2,3352,4292,4772,5192,594

2,6692,7312,8002,8772,957

3,0233,1003,2253,3823,564

3,6903,799

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[0,099L0,62311, 229

(1,63011,912

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

2,3782,5642,7192,7372,758

2,7052,665

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

7,6968,2278,6799,1099,444

9,83010,188


226


TABLE B-27.— Wage and salary workers in nonagr{cultural establishments,1929-71—Continued

[All employees; thousands of persons]

Year ormonth

1969: J a n . . .F e b . - .Mar__A p r . . .May__June. .

J u l y . .Aug__Sept . .Oct. .Nov .Dec . . .

1970: Jan.F e b . . .M a r . .A p r . . .M a y . .June. .

J u l y . .A u g . . .Sept . .OctNovDec. . .

1971:Jan__Feb. ._M a r . . .A p r . . .May....June . .

July. . .Aug. . .S e p t . .Oct-._.Nov pDec p .

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-

blegoods

Min-

Con-tractcon-

struc-tion

Trans-porta-tionandpub-

licutili-ties

Whole-saleand

retailtrade


estate

Serv-ices

Government

Fed-eral

Seasonally adjusted

69,28769, 52969, 76669, 94170,17170,368

70,40670,51270,61670,82770, 79770,912

70, 87370,98871,14771,06370, 79670,634

70,60570,44570,48070, 08269,98570,313

70,45470, 39170,48070, 59970, 76970, 657

70, 53170,52970, 85370, 84870, 98171,104

Stateandlocal

20,00820,08620,15320,17120,19620,254

20,25520,25020,23620,24420, 08720,068

19,98519,91719,90319,77319,56619,458

19,39419,25819,23518, 66918,51718, 796

18,74718,68418, 60918,63918, 70218,608

18, 53318, 45718,61618, 56018,60318, 549

11,82011,84111,88011,89911,92111,963

11,96211,95811,96011,97711,79411,777

11,68111,62511,63311,52911,39611,287

11,22211,13211,11610,59810,44910, 738

10,69710,64210,57110, 59810,65110, 598

10, 55210,48510, 59710, 56110,57110, 542

8,1888,2458,2738,2728,2758,291

8,2938,2928,2768,2678,2938,291

8,3048,2928,2708,2448,1708,171

8,1728,1268,1198,0718,0688,058

8,0508,0428,0388,0418,0518,010

7,9817,9728,0197,9998,0328,007

617619615615615614

619621624623623626

625625624622620620

619620620621624623

625622622623622619

597609616521521622

3,4103,4063,4263,4163,4443,451

3,4263,4093,4423,4473,4623,474

3,4113,4533,4733,4053,3493,333

3,3073,3023,2743,2843,2943,302

3,2713,1983,2643,2823,2753,255

3,2283,2193,2503,2903,3183,258

4,3584,3644,3844,4134,4244,442

4,4524,4484,4574,4604,4654,474

4,5064,4964,5024,4764,4934,517

4,5424,5234,5184,5174,5064,450

4,5074,5264,5204,5054,5184,500

4,4764,4284,4604,4424,4354,459

14,38014,43314,47314, 53314,59414, 657

14,68014,71714, 73314,78014,82614,844

14,85714,91914,94114,95014,92814,910

14,91614,90714,93114,94614,90214,952

15,03915,05915,07415,10715,14815,135

15,15815,22315,27315,27015,27615,330

3,4803,4963,5103,5293,5443,563

3,5793,5933,5993,6083,6233,637

3,6523,6593,6723,6803,6893,689

3,6903,6833,6983, 70S3,7213,731

3,7463,7493,7583,7693,7883,807

3,8063,8043,8213,8343,8523,847

10, 97511,03511,10111,14011,18011,203

11,22911,27811,32911,39011,41511,456

11,48811,52611,55911,58411,60511,621

11,62411,63211,66611,72211,75011,776

11,80011,80911,84111,84311,85811,895

11,92111,94611,96211,99612, 02012, 046

2,7542,7532,7512,7502,7452,745

2,7342,7332,7392,7292,7192,716

2,7062,7072,7712,8432,7732,676

2,6552,6352,6572,6592,6642,661

2,6612,6622,6622,6672,6672,640

2,6432,6502,6742,6752,6692,666

9,3059,3379,3539,3749,4299,439

9,4329,4639,4579,5469,5779,617

9,6439,6869,7029,7309,7739,810

9,8589,8859,8819,95810,00710,022

10, 05810, 08210,13010,16410,19110,198

10,16910,19310,18110,26010,28710,327

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

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

For description and details of the various establishment data, see "Employment and Earnings."


227


TABLE B-28.—Average

Year ormonth

1929

1930193119321933193419351936.193719381939

194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966 - . - .1967 . . . .

1969 . .19701971 v

1970:Jan.. .Feb.. .Mar .Apr...May..June..

July. _Aug. .Sept..Oct_-Nov_.Dec...

1971: J a n - .Feb. . .Mar..Apr...May..June..

July. .Aug_.Sept. .Oct.. .Nov *•_Dec »_

Totalnon-agri-

culturalprivate

40.340.039.4

39.839.939.939.639.139.639.338.838.539.0

38.638.638.738.838.738.838.638.037.837.737.137.0

weekly hours of work

Manufacturing

Total

44.2

42.140.538.338.134.636.639.238.635.637.7

38.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240 3

39.739.840.440 540.741.241.340.640.740.639.839.9

Durablegoods

32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.340.941.141.442.042.141.241.441.340.340.4

Non-durablegoods

41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839 739.239.339.639.639.740.140.239.739.839.739.139.3

Mining

40.839.436.337.938.438.638.838.640.740.840.138.940 540.440.540.941.641.942.342.742.642.643.042.742.5

in private nonagricultural industries, 1929-71

Con-tractcon-

struc-tion

38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.237.437.637.737.437.937.437.2

Trans-porta-tionand

publicutilities

41.141.341.240.540.640.740.540.2

Whole-sale

trade

41.642.943.142.341.841.341.141.442.343.042.841.641.141.040.840.740.840.740.640.540.740.540.340.240.640.540.540.640.640.640.840.740.340.140.240.039.8

Retailtrade

43.443.242.841.840.941.040.941.3

M0.340.240.440.440.439.839.139.239.038.638.138.138.238.037.637.437.337.036.635.935.334.734.233.833.7

Finance,insur-ance,andreal

estate

37.937.937.837.737.737.837.737.637.636.936.737.137 337.236.937.337.537.337.237.337.037.037.136.837.0

Serv-ices

36.035.935.535.134 734.734.434.2

Seasonally adjusted

37.437.437.337.237.137.2

37.237.136.736.936.937.0

36.937.037.037.036.937.1

36.936.936.737.037.237.2

40.240.240.139.939.839.9

40.139.839.339.439.639.5

39.839.839.839.840.040.0

40.039.839.539.840.140.3

40.840.740.640.440.340.540.640.239.839.940.040.040.340.340.440.340.540.640.440.039.740.340.640.8

39.539.539.439.339.239.139.239.138.638.939.039.039.239.139.139.239.439.339.339.339.139.339.539.6

42.843.243.043.042.642.542.442.342.142.742.742.842.942.642.842.242.442.342.242.041.942.542.543.6

37.338.138.038.137.937.537.437.335.037.037.237.737.636.837.837.136.837.237.137.135.737.639.136.7

40.640.740.740.340.440.740.740.440.540.240.340.339.940.640.640.640.040.738.040.540.640.340.440.6

40.340.240.140.140.140.040.039.939.739.939.839.839.739.739.739.639.839.939.639.739.739.840.040.1

33.833.833.833.633.833.833.833.933.733.833.733.733.633.633.533.733.733.733.833.633.633.833.833.9

36.937.037.036.936.836.736.836.936.736.736.736.736.736.836.936.937.037.037.137.337.036.936.937.1

34.534.534.434.434.434.334.534.634.434.334.334.334.234.234.034.134.134.134.434.334.234.234.134.1

» Beginning 1947, data include eating and drinking places.Note.—Hours and earnings data in Tables B-28 through B-33 relate to production workers in manufacturing and mining,

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


228


TABLE B-29.—Average gross hourly earnings in private nonagricultural industries and in agriculture,1929-71

Year or month

19291930193119321933193419351936193719381939 -. .194019411942194319441945194619471948 . . . .19491950 . .195119521953 .195419551956 . .195719581959196019611962196319641965196619671968196919701971 v1970: Jan

FebMarAprMayJuneJuly_____AugSeptOctNovDec

1971: JanFebMarAprMayJuneJulyAugSeptOctNov pDec p . . .

Totalnon-agri-cul-tural

private

$1,1311.2251.2751.3351 451 521 611.651 711 801.891.952.022.092.142.222 282.362.452.562.682.853.043.2?3.423.133.153.163.173.193.213.233.253.293.283.293.303.333.353.363.383.413.423.433.453.493.493.483.50

Manufacturing

Total

$0.560546

.509

.441

.437

.526

.544.550.617.620.627.655.726.851.957

1.0111.0161.0751.2171.3281 3781.4401 561.651.741.781.861.952.052.112.192.262.322.392.462.532.612.722.833.013.193.363.573.293.293.313.323.343.363.373.373.423.373.393.473.503.513.523.543.553.573.573.563.603.603.603.69

Dur-able

goods

$0,492.467.550571

.580

.667

.679

.691716

.799

.9371.0481.1051.0991.1441.2781.3951 4531.5191 651.751.861.901.992.082.192.262.362.432.492.562.632.712.792.903.003.193.383.563.803.493.483.513.513.543.573.573.583.623.563.573.683.723.743.753.763.783.803.793.793.833.823.833.94

Non-dur-able?oods

$0,412.419.505

520.519.566.572.571590

.627

.709

.787

.844

.886

.9951.1451.2501 2951.347I 441.51.58.6267

L. 77.85.91.98

K 052.112.172 222.292.362.452.572.742.913 083.263.013.013.023.043.053.063.093.083.143.133.153.173.193.203.213.233.243.263.293.273.313.293.293.35

Mining

$1 4691.6641 7171.7721 932.012.142.142 202.332.462.472.562.612.642.702.752.812.923.053.193.353.613 844.043.763.773.793.793.803.823.823.843.893.923.973.963.984.004.014.044.044.044 054.104.153.923.914.29

Con-tractcon-

struc-tion

$1 5411.7131 7921.8632 022.132.282.392 452.572.712.822.933.033.203.313.413.553.703.894.114.414.79S.?55.705.095.085.085.115.125.155.225.325.385.445.465.465.535.565.545.555.655.635.685.755.865.905.895.91

Trans-porta-tionand

publicutili-ties

$2.883.033.113.243.423.643.8S4.203.733.753.743.753.803.843.873.903.943.943.963.994.044.084.074.104.134.154.234.254.334.314.324.37

V/hole-saletrade

$0,610.628.658.674.688.711.763.828.898.948.990107

,??03083fiO4?75?6170

L.768394

2.022.092.182.242.312.372.452.522.612.732.883.053.233 443.673.353.383.403.393.413.423.423.453.483.493.523.523.573.593.593.623.673.663.673.703.723.723.733.77

Retailtrade

$0.484.494.518.559.606.653.699.797


estate

2 . 8 3 8 $1,140.901 1.200.951.983

1.061.091.161.201.251.301.371.421.471.521.561.631.681.751.821.912.012.162.302.442.572.382.402.412.422.432.432.442.452.482.482.492.472.522.542.552.562.572.582.582.572.602.602.602.60

1 2601.3401.45

SISS

.657078

.84

.89

.95> n?2.092.172.252.302.392.472.582.752.933.083.283.023.053.053.043.053.053.073.083.103.133.153.153.193.243.243.263.303.283.293.303.303.313.313.33

Serv-ices

$1.942.052.172.292.432.612.812.992.712.742.752.762.772.782.802.822.882.882.902.912.932.952.952.962.982.972.982.993.043.033.043.04

Agri-cul-

ture^

$0,241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.818.834.856.880.904.951

1.031.121.211.331.421.481.50

1.29

1.38

1.46

1.58

1.36

1.44

1.54

i Weighted average of all farm wage rates on a per hour basis.1 Beginning 1947, data include eating and drinking places.

Note-See Note, Tables B-27 and B-28.

Sources: Department of Labor (Bureau of Labor Statistics) and Department of Agriculture.

229


TABLE B—30.—Average gross weekly earnings in private nonagricultural industries* 1929-71

Year ormonth

Totalnon-

agricul-tural

private

Manufacturing

Total Durablegoods

Non-durablegoods

MiningContract

con-struc-tion

Trans-porta-

tion andpublicutili-ties

Whole-sale

tradeRetailtrade

Fi-nance,insur-ance,

and realestate

Serv-ices

1929

1930..19311932 .193319341935 .1936193719381939

194019411942194319441945 . .19461947 -. ..19481949

1950195119521953 . .1954 . ....19551956195719581959

1960196119621963196419651966196719681969

19701971 v

$45 5849.0050.24

53.1357 8660 6563 7664.5267.7270 7473.3375 0878.78

80 6782.6085.9188 4691.3395 0698.82101. 84107. 73114.61

119.46126.54

1970: JanFeb_.. .Mar_...Apr_.. .May_—June__.

JulyAugSept. . . .Oct . . . . .Nov . . . .D e c . . .

1971: J a n . . . .F e b . . . .M a r . . .A p r . . . .May . . . .J u n e . . .

Ju l y . . . .A u g . . . .Sept . . . .OctNov *>_Dec p.

116.12116.55117.24116.97118.03120. 05

121.45122.20121.73121.03121.07122. 43

121.88122.61123.65124.05125. 49127. 57

127.94129. 03129.13129.13129.11130. 55

$24.76

23.0020.6416.8916.6518.2019.9121.5623.8222.0723.64

24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88

58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26

89.7292.3496.5699.63102.97107.53112.34114.90122. 51129. 51

133. 73142.44

131.60130.94132.40131.47132.93134.74

134.46134.13135.43133.45134.58138.45

138.60138.29139.74139.83142. 00143.51

142.09141.69143.28144.00144.72150.18

$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

143.47153. 52

141.69140.24142. 51140.75142.66145.30

143.87143.92145.16142.76143.16149.04

149.17149.23151.50150.40153.09155.04

151.98151.60153.20154.71155. 88162.72

$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

120.43128.12

117.99117.69118.38118.56118.95119.95

121.44121.04122.15122.07123.17124.58

124.09123.84124.87125.65127. 01128. 44

129.63129.17130.75129.63130.28133.67

$59.9465.5662.33

67.1674.1177.5983.0382.6089.5495.0698.6596.08

103.68

105.44106.92110.43114.40117.74123. 52130.24135. 89142.71155.23

163.97171.70

159.05160.23160.32163.35161.88163. 50

163.50163.58164.55168.56169. 52170.28

168. 75167.60168. 82170.89171.30172.10

172.53173.43174.72167.78166.18187.90

$26.7525.1925.44

$58.8765.2767.56

69.6876.9682.8686.4188.9190.9096.38

100.27103.78108.41

113.04118.08122. 47127.19132.06138.38146. 26154.95164.93181.54

196.35212.04

181.71186.94189.48193.67195.07197. 25

200.45204.82194.76204. 54197.65204.20

199.08197.38205. 53205. 35209.05213.94

216.41220. 23216.23225.38223.82215.12

$118.37125.14128.13131.22138.85148.15

155.93168.84

150.69151.88150.72149.63152.76156.67

159.06158.34160.36159.18160. 38161.20

160.39164.83163.61164. 82164.37169.32

162. 43172.98176.66174. 56175.39177.86

25.3826.9628.3628.5128.76

29.3631.3634.2837.9940.7642.3746.0550.1453.6355.49

58.0862.0265.5369.0271.2874.4878.5781.4184.0288.51

90.7293.5696.2299.47102.31106.49111.11116.06122.31129.85

137.60146.07

134.67135.20136.00135.26136.06137.14

137.83138.35138.16139.25139.74141.15

141.37141.45142.16142.63145.33146. 40

146.43147.63147.68148.06148.83152.31

$21. 01

21.3422.1723.3724.7926.7728.5932.92

i 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

82.4786.61

79.4979.9280.4980.3481.1682.86

84.9185.7583.8283.0883.1783.73

83.4184.0784.4185.2585.5887.72

89.7889.1887.6287.1087.1088.66

$43.2145.4847.63

50.5254.6757.0859.5762.0463.9265.6867.5370.1272.74

75.1477.1280.9484.3885.7988.9192.1395.46

101.75108. 70

113.34121.36

111.44112.85112.85112.18111.94111.94

112.98113.65113.46115.18115.92115.61

117.07119.23119.56120.29121.77121.36

122.06123.09121.77122.47122.47123. 54

$69. 8473.6077.0480.3884.3290.57

96.66102.26

92.9593.9894.6094.6794.7395.63

97.7298.7098.7898.5099.1899.81

99.62100.30100.30100.64101. 02101.57

103.70103. 75103.66103.32103.36103.66

* Beginning 1947, data include eating and drinking places.

Note.—See Note, Tables B-27 and B-28.


230


TABLE B-31 ,—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-71

Year or month

1939.

19401941.1942.1943.1944.1945.1946.19471948.1949.

1950.1951..19521953.1954.19551956:1957.19581959.

19601961.1962.1963.1964..1965.1966.1967..19681969.

1970.1971 p

1970: Jan..Feb..Mar-Apr..May.June.

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

1971: Jan..Feb..Mar..Apr -May..June.

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

All manufacturing industries

Averageweeklyhours

Gross

37.7

Ex-clud-ing

over-time

$0.627

Average hourlyearnings

Gross

Ex-clud-ing

over-time

Adjustedhourly

earnings,(1967

100)i

24.5

Durable goods manufac-turing industries

Averageweeklyhours

Gross

37.9

Ex-clud-ing

over-time

$0,691

Averagehourly

earnings

Gross

Ex-clud-ing

over-time

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

37.4

37.0

Ex-clud-

over-time

$0. 571

Averagehourly

earnings

Gross

Ex-clud-ing

over-time

38.140.643.1

.655

. 726 $0.691

.851, .793

.957 .881

39.2 .716 .590

45.045.243.540.340.440.039.1

1.0111.0161.075

.9333.9491.035

2 25.42 23.52 31.0

40.540.640.740.539.640.740.439.839.240.3

39.739.840.440.540.741.241.340.640.740.6

39.839.9

40.039.840.039.639.840.1

39.939.839.639.639.739.9

39.639.439.739.540.040.2

39.839.839.840.040.240.7

37.637.537.237.6

37.337.437.637.737.637.637.437.237.137.0

36.837.0

36.836.837.036.836.937.0

37.036.836.536.736.937.1

36.936.737.036.837.137.2

36.936.836.736.937.137.5

1.2171.3281.378

1.4401.561.651.741.781.861.952.052.112.19

2.262.322.392.462.532.612.722.833.013.19

3.363.57

3.293.293.313.323.343.36

3.373.373.423.373.393.47

3.503.513.523.543.553.57

3.573.563.603.603.603.69

.18

.29

.34

.39

.51

.59

.68

.73

.79

.89

.992.052.12

2.202.252.312.372.442.512.592.722.883.06

3.243.44

3.173.173.193.203.223.23

3.253.243.293.253.273.35

3.383.403.403.423.433.44

3.453.433.463.463.463 .55

233.22 34.62 33. 3

44.043.150.3

51.95S.058.962.164.166.169.673.278.278.6

81.283.685.787.890.392.695.7

100.0106.2112.6

119.7127.7

116.5116.9117.6118.1118.8119.2

119.9120.4121.6121.1121.9123.8

124.8125.3125.8126.5126.9127.3

127.8128.3129.1128.9129.0132.1

42.045.046.5

. 799 $0.

46.544.040.440.540.439.4

41.141.541.541.240.141.341.040.339.540.7

40.140.340.941.141.442.042.141.241.441.3

40.340.4

40.640.340.640.140.340.7

40.340.240.140.140.140.5

40.139.940.440.040.540.8

40.140.040.040.540.741.3

.9371.048

.762 38.9

.872 40.3

.966 42.5

627 $0,613

1.105| 1.019 43.11.099 3 1.031J 42.31.1441.2781.3951.453

1.519 1.461.65 j 1.591.75 1.68

42

38.037.937.638.0

37.738.038.138.238.138.137.837.737.637.5

37.437.6

37.337.337.537.337.437.5

37.437.337.137.337.537.8

37.537.337.737.437.737.8

37.437.237.037.537.738.1

1.861.901.992.082.192.262.36

1.791.841.912.012.122.212.28

2.43 2.362.49 2.422.56 I 2.482.63 ! 2.542.71 2.602.79

40.540.239.638.9

39.739.539.739.639.039.9

2.903.003.193.38

3.563.80

3.493.483.513.513.543.57

3.573.583.623.563.573.68

3.723.743.753.763.783.80

3.793.793.833.823.833.94

2.672.762.883.053.24

3.433.67

3.353.353.383.393.423.43

3.443.453.493.443.463.56

3.613.623.633.643.663.67

3.663.663.693.693.693.79

39.639.238.839.7

39.239.339.639.639.740.140.239.739.839.7

39.139.3

39.239.139.239.039.039.2

39.339.338.939.039.139.3

38.938.738.938.939.239.4

39.439.539.539.439.639.9

37.237.036.637.0

36.736.836.936.936.836.936.836.636.536.3

36.136.3

36.136.136.236.236.136.2

36.436.235.836.036.236.5

36.236.036.236.236.336.3

36.436.336.136.236.536.8

.709

.787

.844

.886

.9951.1451.2501.295

1.3471.441.511.581.621.671.771.85

1.911.98

2.052.112.172.222.292.362.452.572.742.91

3.083.26

3.013.013.023.043.053.06

3.093.083.143.133.153.17

3.193.203.213.233.243.26

3.293.273.313.293.293.35

.684

.748

.7983.841.962

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

2.973.14

2.902.902.912.932.942.95

2.982.973.023.013.043.06

3.083.103.103.123.133.13

3.163.153.183.173.163.23

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

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

231


TABLE B-32.—Average weekly earnings, gross and spendable, total private nonagriculturalindustries, in current and 1967 dollars, 1947-71

Year or month

194719481949 -

19501951 . . .19521953 .195419551956 .19571958 - -1959 .

I9601961196219631964 -.196519661967 -19681969 .

19701971 P

1970' JanFeb .MarApr -May . . -June...

JulyAugSeptOctNovD e c . . .

1971: JanFeb .MarAprMay...June

JulyAugSept. .OctN o vDec »

Average gross weeklyearnings

Currentdollars

$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

119.46126.54

116.12116.55117.24116.97118.03120.05

121.45122.20121.73121 03121.07122.43

121.88122.61123.65124. 05125.49127.57

127.94129.03129.13129.13129.11130.55

1967dollars1

$68.1367.9670.36

73.6974.3776.2979.6080.1584.4486.9086.9986.7090.24

90.9592.1994.8296.4798.31

100.59101.67101.84103.39104.38

102.72104.32

102.49102.33102.39101. 54102.01103.22

104 07104.53103.60102 48102.17102.80

102.25102.69103.21103.20103.88105.00

105.04105.68105.67105.50105. 31106.05

Average spendable weekly earnings3

Worker with nodependents

Currentdollars

$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

95.94103.24

93.4393.7694.2794.0794.8696.38

97.4397.9997.6497.1197.1498.16

99.80100.34101.10101. 40102.46104.00

104.27105.07105.15105.15105.13106.20

1967dollars1

$58.5459.7961.83

63.8362.5762.9865.4866.7870.1672.0371.7371.4073.91

73.9574.8776.7877.4880.7883.5983.6383.3883.2182.84

82.4985.11

82.4682.3282.3381.6681.9982.87

83.4983.8283.1082.2381.9782.42

83.7284.0484.3984.3684.8285.60

85.6186.0586.0585.9185 7586.27

Worker with threedependents

Currentdollars

$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

104.61111.82

101.97102.32102.87102.65103.48105.08

106.18106.78106.40105.85105.88106.96

108.15108.73109.55109.86111.00112.64

112.93113.79113.86113.86113.85114.99

1967dollars1

$66.7367.2869.66

72.1871.7172.7975.2975.5979.0680.8680.3279.8082.31

82.2583.1384.9885.6788.8891.3291.2190.8691.4491.07

89.9592.18

90.0089.8389.8489.1189.4490.35

90.9991.3490.5589.6389.3589.81

90.7391.0691.4491.4091.8992.71

92.7293.1993.1893.0292.8693.41

» Earnings in current dollars divided by the consumer price index.> Average gross weekly earnings less social security and income taxes.

Note.—"Total private" consists of manufacturing; mining; contract construction; transportation and public utilities;wholesale and retail trade; finance, insurance, and real estate; and services.

See also Note, Tables B-27 and B-28.


232


TABLE B-33.—Average weekly earnings, gross and spendable, in manufacturing industries, incurrent and 1967 dollars, 1939-71

Year or month

1939

1940 . .194119421943 . .194419451946194719481949

1950 .19511952195319541955 . . . .195619571958 . . .1959

19601961 - . . .196219631964196519661967 . .19681969

19701971 v

1970: Jan. . .FebMarAprMayJune

JulyAugSeptOctNovDec

1971: JanFeb . -MarApr . -MayJune

JulyAugSeptOct .Nov pDec v

Average gross weeklyearnings

Currentdollars

$23.64

24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88

58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26

89.7292.3496 5699.63

102.97107. 53112.34114.90122.51129. 51

133.73142.44

131.60130.94132.40131.47132.93134.74

134.46134.13135.43133.45134.58138.45

138 60138.29139.74139.83142.00143.51

142.09141.69143.28144.00144. 72150.18

1967dollars *

$56.83

59.4366.8575.1683.1586.7282.0074.0573.5073.6875.46

80.8981.4184.4887.9887.5794.3996.7896.7995.51

101.10

101.15103.06106.58108.65110.84113.79115.58114.90117.57117.95

114.99117.43

116.15114.96115.63114.12114.89115.86

115.22114.74115.26113.00113.57116.25

116 28115.82116.64116.33117.55118.12

116.66116.04117.25117.65118.04122.00

Average spendable weekly earnings 2

Worker with nodependents

Currentdollars

$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

106.62114.97

105. 03104. 53105.63104.93106.02107. 38

107.17106 92107.90106.41107.26110.16

112 14111.91112.98113.04114.65115.76

114.71114.42115.59116.12116.65120.64

1967dollars *

$56.18

58.2463.4065.1669.4072.0968.3163.7862.9364.5966.12

69.7168.0869.2371.9072.6177.9479.7579.4078.3182.35

81.8283.2685.9487.0490.8594.2694.2193.2893.7692.81

91.6894.78

92.7091.7792.2591.0991.6392.33

91.8391.4691.8390.1090.5192.49

94.0893.7394.3194.0494.9195.28

94.1893.7194. 5994.8795.1598.00

Worker with threedependents

Currentdollars

$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

115.90124.24

114.17113.69114.85114.06115.27116.71

116.48116.22117.25115 68116.58119.66

121.25121.01122.14122.21123. 90125.07

123.97123.65124. 89125.45126. 01130.25

1967dollars 1

$55.25

58.8366.1974 4179.7983.0479.0273.1571 1272.5574.16

78.1777.3579.2281.9081.5587.0288.7688.1586.8790.95

90.3291.7294.4095.5199.22

102.41102.31101.26102.45101. 49

99.66102. 42

100.7799.82

100.3199.0199.63

100.35

99.8199.4299.7997.9598.38

100.47

101.72101.35101.95101.67102. 57102. 94

101. 78101.27102.20102. 49102.78105.81

1 Earnings in current dollars divided by the consumer price index.2 Average gross weekly earnings less social security and income taxes.

Note.—See Note, Tables B-27 and B-28.


233


TABLE B-34.—Indexes of output per man-hour and related data, private economy, 1947—71

[1967=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...

1970...1971v__

1947...19481949...

1950...1951 . .19521953 .19541955 . .19561957 . .19581959—

19601961 . .19621963...19641965 ..1966...196719681969

19701971 v

Totalpri-vate

45.647.847.6

52.555.857.260.159.364.365.666.565.670.2

71.973.278.281.586.291.897.7

100.0L04.8107.5

106.8109.9

Farm

71.179.577.0

81.277.079.583.785.487.487.084.987.088.3

91.692.992.595.493.399.293.7

100.097.9

101.3

100.0107.0

Nonfarm industries

Total

Output

44.546.546.4

51.355.056.359.158.363.464.765.764.869.5

71.172.577.680.985.991.597.9

100.0105.1107.8

107.1110.0

Man-ufac-tur-ing

i

44.746.944.2

51.356.557.862.658.265.065.365.560.267.6

68.668.375.279.084.592.7

100.1100.0106.7109.9

105.7105.4

Non-man-ufac-tur-ing

44.546.347.6

51.454.155.557.358.362.564.465.967.270.4

72.574.678.981.983.690.996.7

100.0104.2106.7

107.8112.4

Compensation per man-hour*

36.239.540.1

42.846.949.852.954.555.959.563.366.069.0

71.774.477.780.884.988.494.5

LOO. 0107.6115.6

124.0132.6

38.341.843.0

45.349.352.054.956.658.662.065.568.171.0

73.976.379.382.286.189.294.6

100.0107.3114.7

122.7131.2

37.140.742.6

44.749.352.455.357.860.063.967.770.673.5

76.679.082 385.089.091.295.3

100.0107.2114.1

121.6129.1

38.942.343.3

45.749.151.554.255.957.660.864.367.069.7

72.675.277 980.984.888.394.2

100.0107.3115.2

123.9133.3

Totalpri-vate

Farm

Nonfarm industries

TotalMan-ufac-tur-ing


Man-hours *

88.889.286.2

87.990.791.292.088.692.193.792.388.491.2

92.090.692.492.994.597.499.7

100.0101.8104.0

102.4101.7

243.4233.9232.4

215.1203.1192.8179.3173.9176.7168.6155.3144.2143.6

141.2132.6129.0122.1117.4114.1103.6100.097.891.5

86.585.3

78.079.176.0

79.082.984.185.982.686.188.487.984.587.6

88.687.789.890.992.996.399.5

100.0102.1104.9

103.5102.8

81.580.973.7

79.885.987.391.683.788.289.588.180.986.1

85.883.586.987.789.494.3

100.2100.0101.9103.6

98.194.4

76.478.277.1

78.681.582.683.282.285.287.987.886.188.3

89.989.691.292.394.697.299.1

100.0102.2105.6

106.0108.7

Unit labor cost

70.673.772.5

71.776.379.481.081.580.185.087.988.989.8

91.892.191.892.193.193.896.5

100.0104 6111.9

118.9122.7

67.171.070.3

69.774.377.679.780.379.684.787.688.789.5

92.092.391.892.393.293.996.2

100.0104 3111.6

118.6122.6

67.770.371.0

69.574.879.180.983.281.487.691.194.993.7

95.996.595.094.494.192.895.5

100.0102 3107.5

112.9115.7

66.971.470.0

69.973.976.678.778.878.482.985.785.987.3

90.090.290.191.292.794.496.5

100.0105.3114.0

121.9126.5

Totalpri-vate

Farm

Nonfarm industries

TotalMan-ufac-tur-ing


Output per man-hour

51.353.655.3

59.761.562.765.366.969.970.072.074.376.9

78.280.984.787.791.194.298.0

100.0102.9103.4

104.3108.1

29.234.033.1

37.737.941.246.749.149.551.654.760.461.5

64.970.071.778.179.586.990.5

100.0100.2110.7

115.6125.6

57.158.861.1

65.066.366.968.970.573.673.274.876.779.3

80.382.786.489.192.495.198.4

100.0102.9102.7

103.5107.0

54.857.960.0

64.465.966.268.369.573.772.974.474.478.5

79.981.886.690.194.598.399.9

100.0104.7106.1

107.7111.6

58.259.261.8

65.366.467.268.971.073.473.375.078.079.8

80.683.386.588.791.593.597.6

100.0101.9101.1

101.7105.3

Implicit price deflator*

66.470.970.2

70.976.177.578.179.179.882 385.387.188.3

89.590.491 292.293.294.897.2

100.0103 6108.3

113.6118.5

63.868.268.7

69.474.075.977.278.579.582.385.386.888.3

89.690.491.292.393.494.896.8

100.0103.5108.1

113.5118.7

66.971.372.8

73.077.979.680.081.683.186.989.791.993.3

94.194.494.494.595.495.797.4

100.0102.3104.0

107.1

62.366.666.6

67.771.874.075.976.977.980.083.284.385.9

87.388.589.791.192.494.396.6

100.0104.2110.3

116.5

i Output refers to gross national product in 1958 dMIars.> Hours of all persons in private industry engaged in production, including man-hours of proprietors and unpaid family

workers. Man-hours estimates based primarily on establishment data.3 Wages and salaries of employees plus employers' contribution for social insurance and private benefits plans. Also

includes an estimate of wages, salaries, and supplemental payments for the self-employed.4 Current dollar gross product divided by constant dollar product.

Note.—For information on sources, methodology, trends, and underlying factors influencing the measures, see Bureauof Labor Statistics, Department of Labor, Bulletin No. 1458, "Handbook of Methods for Surveys and Studies," October


234


PRODUCTION AND BUSINESS ACTIVITYTABLE B-35.—Industrial production indexes, major industry divisions, 1929—71

[1967 = 100]

Year or month

1929

1930. . . .19311932...193319341935...1936. . . .1937 . .1938.1939...

19401941. . .19421943 .1944...19451946.1947...19481949

19501951 .1952 . .19531954.1955. .1956 . .195719581959

1960196119621963. . .196419651966 . .196719681969

19701971 v

1970: Jan .FebMarApr . . . . --MayJune . .

JulvAugSeptOctNovDec

1971: Jan . . .FebMarAprMayJune

JulyAugSeptOctNov p

Dec *>

Totalindustrialproduction

21.6

18.014.911.613.715.017.320.422.317.621.7

25.431.636.344.047.440.635.039.441.038.844.9 :

48. 750.654. 8 /

51.958.561.161.957.964.866.266.772.276.581.789.297.9

100.0105.7110.7106.7106.5

Total

22.818 715.311.814.015.318.021.523.418.021.5

25.432 437.847.050.942.635.339.440.938.745. 048.650.655 151.558.260.561.256.964.165.465.671.475.881.289.198.3

100.0105.7110.5

105 2104.9

Manufacturing

Durable

22.616 811.57.09.1

11.214.318.520.913.417.8

23.731.640.154.560.245.531.837 939.535.943.749.252.259 052.059.561.561.954.262.263.362 169.073.579.088 599.0

100.0105.5110.0101.599.0

Nondurable

23.020 919.717.319.720.222.425.026.423.525.9

27.232 934.336.738 238.139.340 942.241.546.247.848.750 751,056.659.560.561.067.0

68.670 775.179.284.490 097.3

100.0106.0111.1

110.6113.3

Mining

44.438 533.027.631.533.035.841.246.440.243.4

48.251 252.854.057 956.855.863 166.358.865 772.171.573 471.980.284.484.577.581.182.783 285.689.091.193 998.4

100.0103.9107.2109.7105.9

Utilities

7.27 47.16.66.56.97.58.59.39.4

10.4

11.513 014.616.117 117.418.119 621.923.326.530.332.835 638.342.847.050.252.557.861.865.370.275.181.986.993.6

100.0109.4119.5128.5135.3

Seasonally adjusted

107.4108.0107.6107.5107.5107.6107.5107.5106.5103.7102.6104.6105.3105.7105.5106.2107.0107.2106.1105.3106.2106.4107.0107.8

106.4107 0106 7106.5106.5106.6106.9105.5104.8101.4100.2102.4103.3103.9103.2104.4105.7105.6104.9103.6104.9105.6105.7106.5

103.7103 5104.3103.6103.6103.7103.7103.5100.795.793.897.398.198.698.399.1

100.5100.199.496.698.599.498.999.7

110.4111.8110.2110.5110.9111.0111.6108.6110.7109.7109.6110.0110.9111.7110.4112.1113.3113.7113.0113.8114.2114.5115.6116.2

109.5109 2109.1108.7108.6107.1106.5108.8110.9112.4113.7112.1111.1110.1111.4110.4108.6108.9105.7106.5106.097.5

101.4107.1

124.1125.0123.9125.9126.9127.9130.2130.5133.9134.0129.6130.2129.6132.2131.5133.2132.1135.6138.7137.0138.4137.8137.4137.2


235


TABLE B-36.—Industrial production indexes, market groupings, 1947-71

[1967=1001

Year ormonth

1947..1948..1949..

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

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

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

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

1970..1971 P.

1970: Jan...Feb..Mar_.Apr_.May._June-July..Aug..Sept.Oct . .NovD e c .

1971: Jan...Feb..Mar..Apr..May_.June.

July..Aug_.Sept .Oct._Nov ".Dec p.

Totalindus-trialpro-duc-tion

39.441.038.8

44.948.750.654.851.9

58.561.161.957.964.8

66.266.772.276.581.7

89.297.9

100.0105.7110.7

106.7106.5

Final products

Total

38.339.738.5

43.446.850.353.750.8

54.958.259.957.162.7

64.865.370.874.979.6

86.896.1

100.0105.8109.0

104.4104.6

Consumer goods i

Total

42.744.043.8

50.049.550.653.753.3

59.561.763.262.668.7

71.372.877.782.086.8

93.098.6

100.0106.6111.1

110.3115.7

Auto-motiveprod-ucts

47.850.049.6

62.455.249.762.858.4

77.763.966.953.266.8

76.469.884.592.596.8

112.3108.8100.0117.9117.4

99.9119.5

Homegoods

39.140.837.7

52.044.844.850.746.8

55.258.156.853.661.6

62.063.969.474.981.7

91.4100.7100.0106.9111.6

107.6111.6

Equipment

Total

29.731.227.9

30.242.150.554.747.9

48.953.755.950.054.9

56.455.661.965.670.1

78.793.0

100.0104.7106.1

96.189.2

Busi-

38.039.534.5

37.045.251.253.246.8

50.758.761.051.557.9

59.457.762.765.874.7

84.498.8

100.0103.4107.9

101.196.2

Inter-mediateprod-ucts

42.544.942.6

49.652.051.755.355.1

62.665.365.363.970.5

71.072.476.981.187.3

93.099.2

100.0105.7112.0

111.9112.8

Materials:

Total

39.741.437.8

45.250.050.756.352.0

61.563.163.156.865.5

66.466.472.477.082.6

91.099.8

100.0105.7112.4

107.8106.8

Dura-ble

goods

39.140.236.0

45.351.652.761.553.1

65.065.265.154.865.3

66.164.671.876.682.7

93.0103.0100.0105.0112.2

103.4101.0

Seasonally adjusted

107.4108.0107.6107.5107.5107.6

107.5107.5106.5103.7102.6104.6

105.3105.7105.5106.2107.0107.2

106.1105.3106.2106.4107.0107.8

105.6106.1105.3105.6106.0105.5

105.5104.9103.5101.4100.2102.2

102.9103.0102.5103.6103.9104.5

104.9105.0104.6105.0106.3106.4

108.8110.2109.2110.5111.8111.7

112.2111.6110.1109.0107.7110.8

112.8112.9112.7114.6115.7116.1

116.0116.0115.0116.0117.9117.8

103.0101.0104.2106.2114.5114.8

112.7111.291.177.676.0

100.0

110.9117.8117.8113.7123.1121.2

120.1121.1118.0120.6120.4120.4

103.6107.0108.8108.1108.5107.1

110.3109.9108.6108.3106.6104.6

106.5106.5108.2111.4113.9113.3

113.5112.9111.1112.9113.8115.3

101.0100.6100.298.898.097.1

96.295.594.290.889.890.3

88.989.388.488.187.888.2

89.389.690.289.790.090.4

103.9104.0104.3103.3103.3102.6

102.5101.7100.595.994.695.6

94.296.095.095.194.495.0

96.396.897.897.397.898.5

111.7111.8111.5111.8111.6112.0

113.5112.2111.4111.9111.6112.1

110.9112.5112.0112.4113.5112.4

113.8110.7112.5113.3114.4114.6

108.6109.4109.6108.6108.3108.8

108.5109.3109.0104.1102.8105.4

106.5106.8107.1107.5108.9109.0

105.3104.0106.2105.8105.6107.5

106.1105.6106.8104.7105.1105.8

105.4106.4105.196.293.699.4

101.5101.6101.9102.2104.8103.0

98.794.998.7

101.1100.2101.1

Non-dura-

blegoods

38.840.937.8

43.647.147.350.250.3

56.959.559.358.165.0

65.968.272.977.182.1

96.3100.0106.9112.8

112.5113.4

111.9114.0112.4113.0111.3111.4

111.6111.6112.9113.4113.3112.1

111.7112.1112.0112.7112.8115.5

112.3114.8114.7114.2113.6114.8

1 Also includes apparel and consumer staples, not shown separately.2 Also includes industrial fuel and power, not shown separately.


236


TABLE B-37.—Industrial production indexes, selected manufactures, 1947-71

[1967=100]

Year ormonth

1947..1948..1949..

1950..1951..1952..1953..1954..1955..1956.1957.1958..1959..

I960..1961..1962..1963..1964_.1965..19661967..1968..1969

1970...1971 p.

Durable manufactures

Pri-mary

metals

64.:

Fabri-catedmetalprod-ucts

50.251.146.1

Ma-chinery

Trans-porta-tion

equip-ment

31.033.934.0

Instru-ments

24.525.222.5

Ord-nance,private

andgov-ern-ment

7.89.09.2

Lum-ber,clay,and

glass

Furni-tureand

miscel-laneous

Nondurable manufactures

Tex-tiles,

apparel,and

leather

Paperand

print-ing

Chem-icals,

petro-leum,and

rubber

Foodsand

tobacco

67.456.7

71.477.7

56.560.458.9

40.745.452.866.257.666.364.368.954.361.5

63.759.969.375.979.691.3

101.2100.0109.7107.6

90.391.3

26.130.035.739.239.644.248.550.747.755.2

57.857.359.866.471.382.995.3

100.0106.7116.1

110.8108.9

11.442.252.063.248.436.131.835.944.446.1

46.439.245.051.650.760.575.1

100.0113.7111.6

95.388.1

70.980.465.084.584.080.463.874.5

74.272.978.284.395.7

104.0108.8100.0103.2114.1

106.9101.2

66.559.968.369.371.163.771.5

71.669.875.978.483.392.6

100.5100.0106.3113.6

109.4107.4

41.746.752.252.045.453.9

56.257.164.867.974.384.198.6

100.0101.9106.8

100.495.6

64.773.875.973.371.482.2

78.579.784.388.994.098.7

102.6100.0105.6111.1

106.3111.3

53.765.868.767.162.168.7

69.770.676.179.584.793.8

100.8100.0106.2111.6

108.8110.3

65.773.475.173.471.879.6

79.280.284.386.991.997.8

101.7100.0104.9105.9

100.2100.6

52.257.861.562.261.567.0

69.271.074.378.484.590.598.9

100.0104.2109.1

107.8107.5

35.441.243.545.846.553.8

55.658.364.570.075.983.894.1

100.0109.6118.4

118.2124.5

Seasonally adjusted

1970: Jan .Feb . .Mar--Apr . .May..June.

July..AugSept.Oct . .Nov..Dec. .

1971: J a n . .Feb . .Mar. .Apr . .May..June.

July..Aug. .Sept.Oct..NOVP.Dec *>.

107.6107.1108.5106.4110.2109.1

107.5111.9108.8102.598.4

104.3

108.1105.5106.6108.7114.3108.1

98.281.093.995.693.396.5

110.1111.4110.8111.6109.0110.7

112.2111.8109.0106.3104.5106.2

105.4106.6104.9108.5108.5108.5

110.8108.0105.7106.9107.3108.5

100.7102.3104.2102.5102.0101.6

103.6101.5100.496.594.994.8

93.494.294.094.295.395.2

97.495.696.397.096.697.9

97.093.795.295.296.398.9

96.396.187.573.871.786.8

91.192.691.389.590.991.7

88.591.191.792.591.490.8

113.2114.0113.8114.0113.1112.6

110.8110.5108.9107.3106.5104.9

106.5105.3105.5106.7108.0108.5

110.9109.1110.5111.7112.1111.7

103.1101.8100.798.297.296.3

92.392.691.890.589.688.6

87.986.085.585.286.088.8

88.890.090.290.389.689.6

108.8107.2105.7107.2106.1104.8

106.4106.6105.6105.3105.0107.5

106.9109.8110.8113.0112.3111.0

111.2110.4111.1112.7113.1113.2

108.5110.2109.6110.21C9.5108.8

109.9110.0109.4108.7105.7104.9

105.2107.1105.6109.5109.9111.3

113.5111.3112.0112.1112.5113.8

103.2102.899.4

101.2103.0101.1

101.599.399.198.796.097.1

98.698.097.399.8

101.5102.4

100.2100.1102.5103.9100.4102.0

108.4109.3108.0108.4108.6108.4

110.0107.9106.7106.1106.4105.0

107.1108.1104.6106.9106.9106.0

106.8108.2108.3109.1109.0108.7

117.4119.1118.1117.9116.8118.7

119.5117.8119.1117.2117.8118.9

118.2120.9120.5122.4124.2125.3

124.0126.2127.3126.1128.5130.0

63.266.670.371.573.677.2

79.281.584.087.090.692.697.0

100.0103.6107.5

110.8113.4

108.4111.4109.8110.1111.4110.9

110.6104.4112.0111.7111.9112.5

113.9113.1112.2112.9113.6113.7

113.8112.8111.1112.4116.2115.4


237451-688 O—72- -16


TABLE B-38.—Manufacturing output, capacity, and utilization rate, 194S-71

19481949

19501951195?19531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971 v

1966-

1967-

1968:

1969:

1970-

1971:

1II . . .IllIV

1II .IIIIV

1IIIIIIV..

1IIIIIIV. .

1IIIIIIV

1 vII PIII P.IV P . . . .

Period Output^ Capacity

1967 output=100

41.539.1

45.449.350.955.451.4

58.160.361.156.964.0

65.365.671.375.781.1

89.098.199.9

105.6110.4

105.2104.8

95.197.799.3

100.2

98.898.999.9

101.9

103.5105.3106.3107.3

109.5110.4111.8110.1

106.7106.7105.8101.5

103.5105.5104.5105.8

44.847.3

49.451.854.958.161.2

64.468.374.875.778.6

81.684.587.791.294.8

100.0106.7113.7120.5127.7

134.6140.7

I

Total

92.782.7

91.995.192.895.584.1

90.088.284.575.181.4

80.177.681.483.085.5

89.091.987.987.786.5

78.274.5

Jtilization rate2

Advancedproducts

Percent

89.882.1

88.892.593.796.184.7

87.786.984.175.080.7

80.377.381.182.584.2

87.891.889.188.185.4

76.472.2

Seasonally adjusted

104.1105.9107.6109.4

111.2112.8114.5116.2

117.9119.6121.3123.0

124.9126.8128.7130.5

132.2133.8135.3136.9

138.4139.9141.4142.9

91.492.392.391.6

88.987.787.387.7

87.988.187.687.2

87.787.186.984.3

80.779.778.274.1

74.775.473.974.0

91.091.992.092.2

89.989.588.688.4

88.888.388.287.3

87.186.285.882.5

79.378.376.371.8

72.472.472.072.0

Primaryproducts

98.183.8

97.8100.191.294.382.9

93.790.785.275.282.7

79.478.281.884.088.0

91.192.185.786.888.5

81.578.8

92.292.992.890.6

87.184.484.986.5

86.187.686.687.0

88.688.788.987.7

83.582.481.678.4

79 180.977.477.8

1 May differ slightly from data shown in Table B-35 because of rounding.2 Output as percent of capacity.Note.—For description of series, see "Federal Reserve Bulletin," October 1971, pp. 779-781 and "Federal Reserve

Bulletin," November 1966, pp. 1605-1615.

Source: Board of Governors of the Federal Reserve System, based on data of Federal Reserve, Department of Commerce,and McGraw-Hill Information Systems Company.

238


TABLE B-39.—Business expenditures for new plant and equipment, 1947-72l


Yearor quarter

194719481949

19501951195219531954

19551956195719581959 . . .

19601961196219631964

19651966196719681969

197019713

1972 3

1969: 1II . . . .III. . .IV. . .

1970: 1II —III. . .IV....

1971: 1I I . . . .Ill —

1972: |3____113

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 5165.4767.7675.56

79.7181.47

88.90

72.5273.9477.8477.84

78.2280.2281.8878.63

79.3281.6180.7584.02

87.1488.47

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 5128.3731.68

31.9530.21

31.42

29.9931.1633.0532.39

32.4432.4332.1530.98

30.4630.1229.1931.12

31.2631.18

Dura-ble

goods

3.253.302 45

2.944 825 215.314.91

5.417.457 845 615 81

7 236 316 797.539 28

11.5014 0614 0614.1215.96

15 8014.29

15.02

15.4715.9816.5315.88

16.4016.3215.7414.92

14.2114.0613.7615.11

15.9415.12

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 2515.72

16 1515.92

16.40

Mining

0.69.9388

.841 111 211.251.28

1.311.641 691 431.36

1 301.291.401.271 34

1.461 621.651.631.86

1.892.13

2.37

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

1.992 371.861.451.86

1.781.67

1.88

Air

0.17.10.12

.10

.14

.24

.24

.24

.26

.35

.41

.37

.78

.66

.73

.52

.401.02

1.221.742.292.562.51

3.031.87

2.50

Other

1.131.17.76

1.091.331.231.291.22

1.301.311.301.061.33

1.301.231.651.581.50

1.681.641.481.591.68

1.231.37

1.43


14.5215.1816.5216.50

16.0516.1116.4016.05

16.2516.0615.4316.01

15.3116.06

1.831.881.891.85

1.921.841.861.94

2.042.082.232.18

2.09

1.681.762.061.94

1.741.881.961.56

1.461.881.721.64

2.12

2.892.222.232.80

2.942.883.243.08

1.292.281.682.20

2.18

1.871.661.651.63

1.371.121.221.22

1.331.401.481.30

1.60

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

10.2011.61

13.1415.20

17.58

11.5211.6811.4811.80

12.1412.7213.8413.68

14.6414.9115.8715.37

16.32

Com-muni-cation

1.40.74.34

1.14.37.61.78

1.82

M l2.823.192.792.72

3.243.393.854.064.61

5.306.026.346.838.30

10.1010.89

31

7.747.928.718.76

9.1410.3810.6210.20

10.7011.2110.73

Com-mer-cialand

other2

5.054.424.24

5.225.675.456.026.45

7.638.327.607.488.44

8.759.139.99

10.9912.02

13.1914.4814.5915.1416.05

16.5918.11

73

15.0015.6716.7816.67

16.5216.9817.0015.97

17.3917.7217.85

30.2031.57

57.28

iExcludes 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.

2Commercial and other includes trade, service, construction, finance, and insurance.s Estimates based on expected capital expenditures reported by business in October-December 1971. Includes

adjustments when necessary for systematic tendencies in expectations data.

Note.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the average of season-ally adjusted figures.

Sources: Department of Commerce (Bureau of Economic Analysis) and Securities and Exchange Commission.

239


TABLE B-40.—New construction activity, 1929-71

[Value put in place, millions of dollars]

Year or month

1929

1930193119321933193419351936193719381939

1940194119421943194419451946

New series1946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

197019716

Totalnewcon-

struc-tion

10,793

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

8,68211,95714,0758,3015,2595,80912,627

14,30820, 04126,07826,722

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

54, 63256, 29259, 96564, 56367,41373,41276, 00277, 50386, 62693, 347

94, 265108,440

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, 76939,14442, 09645, 20647, 03051,35051,99551, 96759, 02165, 384

66,14778, 620

Residentialbuildings l

Total 2

3,625

2,0751,565

630470625

1,0101,5651,8751,9902,680

2,9853,5101,715

885815

1,2764,752

6,2479,85013,12812,428

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

22, 97523,10725,15027, 87428,01027, 93425,71525, b6830, 56533,200

31,74841,970

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

17,27917,07419, 44321,73521, 78621,71219,35218, 98524, 03025, 941

24,15634, 090

Nonresidential buildings and otherconstruction i

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

15,79416,03716,94617,33219,02023,41626, 28026, 39928, 45632,184

34, 39936, 650

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

4,1804,6745,1444,9955,396

7,7619,401

9,75411,590

In-dus-trial

949

53222174176191158266492232254

442801346156208642

1,689

1,6891,7021,397972

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

2,8512,7802,8422,9063,565

6,0216,783

6,5385,430

Other*

2,598

2,3831,528749455520620860

1,1491,0531,163

1,2791,4861,199905

1,1071,2902,802

2,9884,2135,4525,871

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

8,7638,5838,9609,431

10, 059

14, 67416,000

18,10719, 630

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

15,86317,14817,86919,35720,38322, 06224, 00725, 53627, 60527, 963

28,11829,820

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

3,6223,8793,9134,0013,8984,0143,9643,4753,3673,312

3,3123,990

Stateand

locallyowned 5

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, 95615,35616,48518, 04820, 04322, 06124,23824, 651

24, 80625,830


240


TABLE B-40.—New construction activity, 1929-71—Continued[Value put in place, millions of dollars]

Year or month

1970: JanFeb___.Mar_._.Apr_ . . .May.___J u n e . . .

J u l y . . . .AugS e p t . . .OctN o v . . . .Dec_ . . .

1971: JanF e b . . . .Mar_._.AprMay . . . .J u n e . . .

JulyAugS e p t . . .Oct . . . . .Nov p_-

Totalnewcon-

struc-tion

91,47592, 32291,94891,05891,40293,796

93,25094,97394,24196,40198, 285

102, 628

100,645102,340103,027105, 875107, 591109,210

109,957111,910110,031113,648113,353

Private construction

Total

64, 38764,61565, 39264,99164, 86665, 580

64,81665,44466,40667, 84669, 24870, 729

70,63770,74372,96176, 26377,88079, 941

80, 48482, 07181, 44281, 80582,940

Residentialbuildingsx

Total 2

32,23532, 24531,77531,02430,55930,216

29,97230, 03531,22232,89134,09635,104

35,62936, 50937,67839, 58941, 50042, 326

42,68943,92744, 73945, 03545, 030

Newhous-

ingunits

Nonresidential buildings and other

Total

construction'

Com-mer-cials

In-dus-trial


24, 20323,54323,29622,97422,74922,798

23,35623,90124,46824,96625, 55926, 681

27, 56128,51829,60731,04632, 87434, 041

35, 04036, 59937, 40637, 46137, 340

32,15232,37033,61733,96734,30735, 364

34, 84435,40935,18434, 95535,15235, 625

35, 00834,23435, 28336,67436,38037,615

37, 79538,14436, 70336, 77037,910

9,91910,08010, 3529,7329,737

10,073

9,4869,7349,5429,3139,348

10, 001

10,26210,10610,73411,26211,03811,795

12,69013,06911,70211,51012,124

6,2826,4676,5946,9016,7366,911

6,5816,7676,4496,4066,2826,088

6,1696,2586,0726,1105,7665,508

5,4284,8524,5974,9934,924

Other*

15,95115,82316,67117,33417,83418,380

18,77718,90819,19319, 23619, 52219, 536

18,57717,87018,47719, 30219, 57620,312

19,67720,22320, 40420,26720, 862

Public

Total

27,08827, 70726,55626,06726,53628,216

28,43429,52927,83528,55529,03731, 899

30,00831,59730,06629,61229,71129,269

29, 47329,83928, 58931, 84330,413

construction

Fed-erallyowned

3,1193,1323,0213,4363,0753,247

3,0013,4553,4743,4413,4883,604

3,8183,7083,8514,0233,9563,956

4,6104,0313,8694,0424,303

Stateand

locallyowned

23,96924,57523,53522,63123,46124,969

25,43326,07424, 36125,11425,54928,295

26,19027,88926,21525, 58925, 75525,313

24, 86325,80824, 72027, 80126,110

1 Beginning 1960, farm residential buildings included in residential buildings; prior to 1960, included in nonresidentialbuildings and other construction.

2 Total includes additions and alterations and nonhousekeeping units, not shown separately.3 Office buildings, warehouses, stores, restaurants, garages, etc.4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm, public utilities, and all other

private.o Includes Federal grants-in-aid for State and locally owned projects.6 Preliminary estimates by Council of Economic Advisers.

Source: Department of Commerce, Bureau of the Census, except as noted.

241


TABLE B-41.—New housing starts and applications for financing, 1929-71[Thousands of units]

Year ormonth

1929

1930193119321933193419351936193719381939

19401941194219431944

New series19451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970 . .1971*

Housing starts

Private andpublic i

Total(farm

andnon-

farm)

Non-farm

509.0

330 0254.0134.093.0

126 0221.0319.0336.0406.0515 0

602 6706 1356 0191.0141 8

326 11,023.21 268 51,362.11,466.1

1,951.91.491.0

.1,503.91,437.61,550.51,646.01,349.1

...11,223.91,382.0

1,553.5 1.531.3

1,296.0 1.274.01,365.0 U 3 6 . 81,492.4 1,468.71,642.0 1,614.81,561.0 1,534.01,509.6 1,487.51,195.9 1,172.81,321.9 1,298.81,545.5 1,521.41,499.6 1.482.3

1, 469.02,080.5

(•)(9)

Private i

Total (farm and nonfarm)

Total

1,516.8

1,252.11,313.01,462.71,610.31,528.81,472.91,165.01,291.61,507.71, 466. 8

1,433.62,048. 2

Type ofstructure2

Onefamily

1,234.3

994.7974.4991.3

1,020.7970.5963.8778.5843.9899.5810.6

812.91,148.5

Two ormore

families

282.5

257.4338.6471.4589.6558.3509.0386.4447.7608.2656.2

620.7899.6

Nonfarm

Total

509.0

330.0254.0134.093.0

126.0215.7304.2332.4399.3458.4

529.6619.5301.2183.7138.7

324.91,015.21,265.11,344.01,429.8

1,908.11,419.81,446.01,402.11,531.81,626.61,324.91,174.81,314.21,494.6

1,230.11,284.81,439.01,582.91,501.91,450.61,141.51,268.41,483.61,449.1

(e)(9)

SelectedGovernment

home programs 3

FHA*

13.248.857.0

106.8144.7

176.6217.1160.2126.183.6

38.967.1

178.3216.4252.6

328.2186.9229.1216.5250.9268.7183.4150.1270.3307.0

225.7198.8197.3166.2154.0159.9129.1141.9147.7153.6

233.5301.2

VA

8 8.891.8

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

61.093.8

Newprivatehousing

unitsauthor-ized 5

1,208.3

998.01,064.21,186.61,334.71,285.81,239.8

971.91,141.01,353.41, 322. 3

1,351.51,880.9

Proposedhome con-struction 8

Appli-cations

forFHAcom-mit-

ments *

7 20.647.849.8

131.1179.8

231.2288.5238.5144.462.9

56.6121.7286.4293.2327. U

397.7192.8267.9253.7338.6306.2197.7198.8341.7369.7

242.4243.8221.1190.2182.1188.9153.0167.2168.9187.6

315.0366.8

Re-quests

forVAap-

prais-als

164.4226.3251.4535.4620.8401.5159.4234.2234.0

142.9177.8171.2139.3113.6102.199.2

124.3131.7138.2

143.7217.9


242


TABLE B-41.—New housing starts and applications for financing, 1929-71—Continued

[Thousands of units]

Year ormonth

1970: Jan.. .Feb. .Mar. .Apr_.M a y -June -

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

1971: Jan.. .Feb...Mar . .Apr...May. .June..

July_.Aug. .Sept..Oct_.N o v .Dec p.

Housing starts

Private andpublic i

Total(farmandnon-

farm)

Non-farm

Private *

Total (farm and nonfarm)

Total

Type ofstructure2

Onefamily

Two ormore

families

Nonfarm

Total

SelectedGovernment

home programs3

FHA* VA

1,0591,3061,3921,2241,2421,393

1,6031,4251,5091,5831,6932,054

1,7251,7541,9591,9121,9752,000

2,2292,2582,0022,0312,3032,517

577725708697728835

827838881890934

1,240

946985

1,0481,0981,1241,177

1,1871,2121,1871,1591,2831,411

482581684527514558

776587628693759814

779769911814851823

1,0421,046

815872

1,0201,106

169181185207194215

230238246266288354

410290265278265284

283321291299296399

525760605752

516460647178

767383939691

981029798

106101

Newprivatehousing

unitsauthor-ized s

Proposedhome con-struction °

Appli-cations

forFHAcom-mit-

ments*

Re-quests

forVAap-

prais-als


1,0671,1421,1051,1951,3361,312

1,3371,4041,4091,5581,5231,808

1,6351,5631,6271,6381,9271,849

2,0522,0061,9002,1731,9522,231

246249258281271291

297327337326345474

371350336347374370

383359344353296472

141140144135133126

126152139168157149

190174183210218257

228220252233210226

t Units in structures built by private developers for sale upon completion to local public housing authorities under theDepartment of Housing and Urban Development "Turnkey" program are classified as private housing. Military housingstarts, including those financed with mortgages insured by FHA under Section 803 of the National Housing Act, are in-cluded in publicly financed starts but excluded from total private starts and from FHA starts.

s Not available prior to 1959 except for nonfarm for 1929-44.* Data are not available for new homes started under the Department of Agriculture, Farmers Home Administration

program.* Units are for 1- to 4-family housing.s 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 1957 contributed an increase of3 percent in total permit authorizations.

* Units in mortgage applications or appraisal requests for new home construction.7 FHA program approved in June 1934; all 1934 activity included in 1935.* Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.0 Not available separately beginning January 1970.

Sources: Department of Commerce, Department of Housing and Urban Development, and Veterans Administration,except as noted.

243


TABLE B-42.—Sales and inventories in manufacturing and trade, 1947-71

[Amounts in millions of dollars]

Year or month

1947-1948..1949-

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

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

1960..196H.1962-1963..1964...

1965...1966...1967...1968__1969...

1970.. .1971 »..

1970: Jan.. . .Feb....Mar. . .AprMay...June...

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

1971: JanFeb....Mar . . .AprMay. . .June...

Ju ly . . .Aug . . .Sept...Oct....Nov p..D e c -

Total manufacturingand trade

Sales

35,26033,788

38, 59643, 35644,84047,98746,443

51,69454,06355,87954,23359,661

60,74661,13365,41768,96973,685 111

80,276 120,87,17289,70897,105103,178

113,975

Inven-tories2

52, 50749,497

59,82270, 24272,37776,12273,175

79,51687,30489,05286,92291,891

94,74795,648

101,090105,477

,457

1,900136,714145,072155,238166,412

106,276 173,635179,488

Ratio 3

1.421.53

1.361.551.581.581.60

1.471.551.591.601.50

1.561.541.511.491.47

1.451.471.571.541.56

1.601.55

Manufacturing

Sales i

15,51317,31616,126

18,63421,71422,52924,84323, 355

26,48027,74028,73627,28030,219

30,79630, 89633,11335,03237,335

41,00344,86346, 45850,28753,629

54,42957, 829

Inven-tories 2

25, 89728, 54326,321

31,07839, 30641,13643,94841,612

45, 06950,64251,87150,07052,707

53,81454,93958,21360,04363, 386

68,22177,95084,56390,73796, 673

100,476100, 793

Ratio 3

1.581.571.75

1.481.661.781.761.81

1.621.731.801.841.70

1.761.741.721.691.64

1.601.621.761.741.75

1.821.74

Merchant wholesalers

Sales i

6,8086,514

7,6958,5978,7829,0528,993

9,89310,51310,47510,25711,491

11,65611,98812,67413,38214, 527

15,59516,97917,09918,32919,726

20,55422,194

Inven-tories2

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, 363

26,60428,318

Ratio 3

1.131.19

1.071.161.121.171.18

1.131.191.231.241.15

1.221.201.161.151.13

1.141.141.211.201.19

1.231.23

Retail trade

Sales

10,20011,13511,149

12,26813,04613,52914,09114,095

15,32115,81116,66716,69617,951

18, 29418,24919,63020,55621,823

23,67725,33026,15128,49029, 824

31,29433, 952

Inven-tories2

14,24116, 00715,470

19,46021,05021,03121,48820,926

22,76923,40224,45124,11325,305

26,81326,22127,94129,38631,094

34,40538, 07338,95241,97345,376

46,55550,377

Ratio 3

1.261.391.41

1.381.641.521.531.51

1.431.471.441.431.40

1.451.431.381.391.40

1.391.441.461.431.46

1.471.45

Seasonally adjusted

104,904105,870105,657104,807106,758107,389

107,626108,052107,73805,61004,48506,943

09,34611,166 .12,740 175,13,15514,30315,531

14,72715,06415,660 178;14,687.17,341

166,686167,688168,019169,164169,010169,929

171,121171,682172,238172,588173,374173,635

174,412174, 834

,536176,275177, 046177,403

177,652178,157178,924179,468179,488

1.591.581.591.611.581.58

1.591.591.601.631.661.62

1.601.571.561.561.551.54

1.551.551.551.561.53

54,27854,63054,49953,79054,87655, 440

55,38655,64455,07353,23552,56254,464

97,12397,62497,91498, 66798,55598, 744

99,16499,32999,576100,282100,927100,476

55,718 100,87856,9821100,60257,790 100,50257,68058,35258, 988

57,80457,89257, 43959, 061

T

100, 420100,647100, 536

58,418 100,194100,063100,266100,740100, 793

1.791.791.801.831.801.78

1.791.791.811.881.921.84

1.811.771.741.741.721.70

1.721.731.731.751.71

20, 29220,57120,46320,01220,68420,656

20, 63920,69820,71420, 75420,64120,718

21,33821,33421,67621,89722, 44922,716

22,62122, 60522,54922, 28422, 660

24,48424,85324,84224,94224,99025,142

25,41025,42325, 68926,00326,33426,604

26, 64626, 80626, 78827,04627,14027,333

27, 86627,79527,81427, 92828,318

1.211.211.211.251.211.22

1.231.231.241.251.281.28

1.251.261.241.241.211.20

1.231.231.231.251.25

30,33430,66930,69531,00531,19831,293

31,60131,71031,95131,62131,28231,761

32,29032,85033,27433,57833, 50233,827

33,68834,65535,21934, 96435,620'34,876

45,07945,21145,26345,55545,46546, 043

46,54746,93046,97346,30346,11346, 555

46, 88847,42648, 24648, 80949, 25949, 534

49,59250, 29950, 84450, 80050, 377

1.491.471.471.471.461.47

1.471.481.47

.46

.47

.47

.45

.44

.45

.45

.47

.46

.47

.45

.44

.451.41

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly sales; for monthly

data, ratio of inventories at end of month to sales for month.* Manufacturing data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau

of the Census, "Series M3-1.1," September 1968.« Based on seasonally adjusted data through November.« Unofficial estimate.

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

Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).

244


TABLE B-43.—Manufacturers' shipments and inventories\ 1947-71

[Millions of dollars]

Year or month

194719481949

195019511952 . . .1953...1954

19551956195719581959

19601961 3196219631964

19651966 .196719681969

19701971* _. .

1970: JanFebMar. . . . .AprMayJune

JulyAugSep t . . . .OctNovD e c . . .

1971: JanFebMarAprMay. . . .June

JulyAugSeptOctNov

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

41,00344,86346,45850,28753,629

54,42957,829

Dura-ble

goodsindus-tries

6,6947,5797,191

8,84510,49311,31313,34911,828

14,07114,71515,23713,57115,545

15,81715,54417,10318,24719,634

22,21624,62925, 22027,69529,539

29,34931,532

Non-durablegoodsindus-tries

8,8199,7388,935

9,78911,22111,21611,49411,527

12,40913,02513,49913,70814,674

14,97915,35216,01016,78617,701

18,78820,23321,23722, 59224,090

25,08026, 298

Inventories2

Total

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,07052,707

53,81454,93958,21360,04363,386

68,22177,95084, 56390,73796,673

100,476100,793

Durable goods industries

Total

13,06114,66213,060

15,53920,99123,73125,87823,710

26,40530,44731,72830,09531,839

32,36032,50934,60535,81338,436

42,22749,79354,88858,96963,160

65,15264,399

Mate-rialsandsup-plies

8,9667,894

9,19410,41710,6089,847

10,585

10,28610,24210,79811,00111,927

13,29915,43016,43217,39318,678

19,05619, 070

Workin

process

10,7209,721

10,75612,31712,83712,29412,952

12,78013,21114,20514,99716,253

18,15221,99524,99227,50328,963

29,23328,626

Fin-ishedgoods

6,2066,040

6,3487,5658,1257,7498,143

9,1909,0569,6029,815

10,256

10,77612,36813,46414,07315,519

16,86316,703

Nondurable goods industries

Total

12,83613 88113 261

15,53918,31517,40518,07017,902

18,66420,19520,14319,97520,868

21,45422,43023,60824,23024,950

25,99428,15729,67531,76833,513

35, 32436, 394

Mate-rialsandsup-plies

8,3178,167

8,5568,9718,7758,6719,089

9,1139,4649,841

10,00310,185

10,48811,21011,72912,10312, 583

13,02613,382

Workin

process

2,4722,440

2,5712,7212,8642,8002,928

2,9353,1933,3043,4103,519

3,8234,2454,4124,8295,135

5,0555,215

Fin-ishedgoods

7,4097.415

7,6668,6228,6248,4988,857

9,3539,773

10,46310,81711,246

11,68312,70213, 53414,83615,795

17,24317,797

Seasonally adjusted

54,27854,63054,49953,79054,87655,440

55,38655,64455,07353,23552,56254,464

55,71856,98257,79057,68058,35258,988

58,41857,80457,89257,43959, 061

29,44529, 56129,24329,04829,93330,112

30,17630,48329,90028,15227,68029,185

30,16630,85631,61631,30831,85032,650

32,12331,46431, 54331,16632,106

24,83325,06925,25624,74224,94325,328

25,21025,16125,17325,08324,88225.279

25,55226,12626,17426,37226, 50226,338

26,29526,34026,34926, 27326, 955

97,12397,62497,91498,66798,55598,744

99,16499,32999, 576

100,282100,927100,476

100,878100,602100,502100,420100,647100,536

100,194100,063100, 266100, 740100, 793

63,56163,67163,92864,32364,15264,206

64,72064,91364,96565,21865,51765,152

65,30865,09065,08265,03365,07964,825

64,69264,52364,56364,49464,339

18,72718,79618,77118,67818,58518,597

18,65818,77118,82518, 86919,00619,056

19,10919,06118,99619,35919,57019,696

19,93219,70919,30619,10619,070

29,16229,13029,26329,50529,50229,511

29,69929,65929,62229,63629,66529,233

29,25428,94428,81128,59428,54728,329

28,17728,21428,53228,54128, 626

15,67215,74515,89416,14016,06516,098

16,36316,48316, 51816,71316,84616,863

16,94517, 08517,27517,08016,96216,800

16,58316,60016,72516,84716, 703

33,56233,95333,98634,34434,40334, 538

34,44434,41634,61135,06435,41035,324

35, 57035,51235,42035,38735,56835,711

35,50235, 54035,70336,24636,394

12,43112,54512,64812,66812, 58912,588

12,53912,51012, 52412,71812,87413,026

13,02413,01312,89712,92712,91813,058

12,98913,02713,04813,27113, 382

5,1805,1555,1165,1455,1745,174

5,1655,0635,0745,1195,1415,055

5,1165,0905,0925,0905,1555,143

5,1445,1085,1675,1885,215

15,95116,25316,22216,53116,64016,776

16,74016,84317,01317,22717,39517,243

17,43017,40917,43117,37017,49517,510

17,36917,40517,48817,78717,797

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

"Series M3-1.1," September 1968.* Based on seasonally adjusted data through November.Source: Department of Commerce, Bureau of the Census.

245


TABLE B-44.—Manufacturers' new and unfilled orders, 1947—71

[Amounts in millions of dollars]

New orders1

Year or monthTotal

1947 ....1948 ____1949

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

1955 .1956. . . .1957 . ....19581959

19601961 41962

1964

19651966196719681969

19701971 5

15,25617,69215,614

20,11023,90723,20323,53322,313

27,42328,38327,51426,90130,679

30,11531,08633,00535,32237,952

41,80345,91246, 70750, 50553, 768

53,86657,589

1970: JanFeb._Mar_.Apr..May_-June_

July__Aug.-Sept_OctNov..Dec.-

1971: Jan..Feb__Mar..Apr-May.June-

Ju ly . .Aug...Sept..Oct.—Nov

Durable goodsindustries

Total

6,3888,1266,633

10,16512,84112,06112,10510,743

14.95415,38114,07313,17015,951

15,22315,69917,02518,52120,258

22,98625, 69025, 46827,91929, 681

28, 77831,285

Pro-ducers'capitalgoodsindus-tries

Non-dura-

blegoodsindus-tries

2,0841,770

2,4992,8702,5662,3542,878

2,7912,8543,0903,4123,935

4,4355,2654,9585,3076,074

5,7946,353

8,8689,5668,981

9,94511,06611,14211,42811,570

12,46913,00213,44113,73114,728

14,89215,38715,98016,80117,694

18,81720,22221,23922, 58524, 087

25, 08826,304

Unfilled orders2

Total

34,41530,71724,506

43,05569,78575,64961,17848,266

60, 00467,37553,18348, 88254,494

46,13348, 39547,30750,94058, 506

68,14680,61583,50585, 80087, 320

80, 52777,888

Dura-ble

goodsindus-tries

28,53226,60120,018

36,83865,83572,48058,63745,250

56,24163,88050,35245,73950,654

43,40145,24144,48547,95855,623

64,92077, 54580,41682, 80584,379

77, 48574,776

Non-dura-ble

goodsindus-tries

5,8834,1164,488

6,2173,9503,1692,5413,016

3,7633,4952,8313,1433,840

2,7323,1542,8222,9822,883

3,2263,0703,0892,9952,941

3,0423,112

Unfilled orders-shipments ratio'

Total

3.42

3.633.873.352.602.85

2.582.522.462.402.49

2.622.912.812.762.65

2.46

Dura-ble

goodsindus-tries

Seasonally adjusted

4.12

4.274.554.003.493.44

3.213.012.952.892.99

3.123.493.363.343.20

2.97

Non-dura-ble

goodsindus-tries

54, 01453,72853,69852, 86754,22254, 902

55, 27254, 93253,56751,95152,46355, 468

57,25557,16557,69956,59757, 02857, 009

58, 25558, 08557,32257, 49059, 576

29, 23428, 64428, 45328, 09929,33029, 609

30, 07329, 74828, 35526, 77927, 56030,140

31,66631,07131,47230, 22830, 60130, 666

31,95531,75831,02631.12632, 564

6,1546,0155,5455,5265,6605,805

5,8985,6835,6145,8435,8715,925

6,4426,6176,2195,6776,1936,237

6,1466,5516,4256,8066,565

24,78025, 08425, 24524, 76824, 89225, 293

25,19925,18425,21225,17224, 90325,328

25,58926,09426, 22726,36926,42726,343

26,30026,32726, 29626, 36427, 012

87, 05686,15485, 35384, 43083, 77683,238

83,12482,41280, 90679, 62279,52380, 527

82, 06482, 24782, 15681,07379, 74977,775

77,61577, 89877, 32577,37577, 888

84,16883,25182,46181,51280, 90980, 406

80, 30379, 56878,02376, 65076,53077, 485

78,98579, 20079, 05677,97676, 72774, 748

74, 58474, 87974,36274,32374, 776

2,8882, 9032,8922,9182,8672,832

2,8212,8442,8832,9722,9933,042

3,0793,0473,1003,0973,0223,027

3,0313,0192,9633,0523,112

2.622.592.592.592.512.48

2.462.462.412.432.462.46

2.462.452.382.352.262.16

2.272.262.242.24

3.173.143.143.143.033.00

2.972.972.892.932.972.97

2.982.972.872.832.722.58

2.742.742.712.70

0.96

1.121.04.85.55

.63

.72

.65

.63

.57

.60

.56

.53

.47

.45

.46

0.43.43.43.44.43.42

.42

.43

.44

.45

.46

.46

.45

.44

.44

.45

.43

.43

.43

.42

.42

.43

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; excludes industries with no unfilled orders Annual

figures relate to seasonally adjusted data for December, except as noted.4 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," September 1968, for these data.

5 Based on seasonally adjusted data through November.


246


PRICESTABLE B-45.—Consumer price indexes, by major groups, 1929—71

For urban wage earners and clerical workers

(1967 = 100]

Year or month

19291930193119321933 . . .1934193519361937193819391940194119421943 . .19441945 - .1946 .19471948 .1949 . . . . .19501951 . . .195219531954 . .1955195619571958 . .195919601961 . . -19621963 - .196419651966196719681969 _.1970 -19711970: Jan

FebMarAprMayJune . . . . . .July . .AugSeptOctNovDec

1971: JanFebMarApr . . . - . .MayJune . - -JulyAug_ . .SeptOctNovDec

Allitems

51.350.045.640.938.840.141.141.543.042.241.642.044.148.851.852.753.958.566.972.171.472.177.879.580.180.580.281.484.386.687.388.789.690.691.792.994.597.2

100.0104.2109.8116.3121.3113.3113.9114.5115.2115.7116.3116.7116.9117.5118.1118.5119.1119.2119.4119.8120.2120.8121.5121.8122.1122.2122.4122.6123.1

Food

48.345.937.831.530.634.136.536.938.435.634.635.238.445.150.349.650.758.170.676.673.574.582.884.383.082.881.682.284.988.587.188.089.189.991.292.494.499.1

100.0103 6108.9114.9118.4113.5114.1114.2114.6114.9115.2115.8115.9115.7115.5114.9115.3115.5115.9117.0117.8118.2119.2119.8120.0119.1118.9119.0120.3

Housing

Total

49.350.051.752.652.252.453.756.256.858.159.160.665.269.870.972.877.278.780.881.782.383.686.287.788.690.290.991.792.793.894.997.2

100.0104.2110.8118.9124.3114.7115.7116.9117.6118.2118.6119.2119.9120.6121.2121.9122.6122.7122.6122.4122.5123.2124.0124.5125.1125.5125.9126.4126.8

Rent

76.073.970.062.854.150.750.651.954.256.056.056.257.258.558.558.658.859.261.165.168.070.473.276.280.383.284.385.987.589.190.491.792.994.095.095.996.998.2

100.0102.4105.7110.1115.2107.9108.4108.8109.1109.4109.8110.1110.5110.9111.4111.8112.6112.9113.6113.9114.4114.7115.2115.4115.8116.1116.4116.6116.9

Appareland

upkeep

48.547.543.238.236.940.440.841.143.243.042.442.844.852.354.658.561.567.578.283.380.179.086.185.384.684.584.185.887.387.588.289.690.490.991.992.793.796.1

100.0105.4111.5116.1119.8113.4114.0114.6115.0115.7116.0115.3115.4117.2118.2119.0119.2117.6118.1118.6119.1120.2120.1119.3119.0120.6121.6121.9121.8

Trans-porta-tion

42.643.043.744.043.042.744.248.147.947.947.850.355.561.866.468.272.577.379.578.377.478.883.386.089.689.690.692.593.094.395.997.2

100.0103.2107.2112.7118.6109.8109.8109.7111.2112.1112.7113.4112.7113.0115.2116.0116.9117.5117.5117.8118.1118.8119.6119.5119.3118.6119.3118.8118.6

Medicalcare

36.136.336.636.736.736.837.038.039.941.142.144.448.151.152.753.756.359.361.463.464.867.269.973.276.479.181.483.585.687.389.593.4

100.0106.1113.4120.6128.4116.3117.1118.2119.1119.7120.5121.3122.0122.6122.8123.4124.2124.9125.8126.8127.5128.1128.6129.3130.0130.4129.6129.7130.1

Personalcare

36.937.439.640.440.340.241.245.249.953.455.159.066.068.568.368.374.775.676.376.677.981.184.186.988.790.190.692.293.494.595.297.1

100.0104.2109.3113.2116.8111.3111.7112.2112.4112.8112.7113.1113.7114.0114.4114.5115.0115.3115.4115.8116.3116.5116.8117.1117.5117.6117.9117.9117.9

Readingand

recrea-tion

41.842.543.745.245.346.147.750.054.160.062.464.568.772.274.974.476.676.977.776.976.777.880.783.985.387.389.391.392.895.095.997.5

100.0104.7108.7113.4119.3110.8110.9111.2111.9112.6113.3113.7114.2114.7115.2116.0116.2117.3117.5117.7118.4118.9119.3119.6119.7120.5120.5120.8121.1

Othergoodsand

services

44.644.545.746.146.948.349.250.753.354.756.958.863.866.868.769.972.876.678.579.879.881.083.384.486.187.888.589.190.692.094.297.2

100.0104.6109.1116.0120.9113.3113.6114.0114.7115.1115.7116.2116.8117.4118.0118.3118.5118.9119.1119.4119.7119.9120.3121.2121.8122.4122.6122.8123.0


247


TABLE B-46.—Consumer price indexes, by special groups, 1935-71

For urban wage earners and clerical workers(1967=100]

Year ormonth

19351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

19701971

1970: Jan.. .Feb..Mar__.Apr..May..June..

July...Aug__.Sept..Oct...Nov...Dec...

1971: Jan.Feb .Mar...Apr...May..June..

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

Allitems

41.141.543.042.241.6

42.044.148.851.852.753.958.566.972.171.4

72.177.879.580.180.580.281.484.386.687.3

88.789.690.691.792.994.597.2

100.0104.2109.8

116.3121.3

113.3113.9114.5115.2115.7116.3

116.7116.9117.5118.1118.5119.1

119.2119.4119.8120.2120.8121.5

121.8122.1122.2122.4122.6123.1

Allitemslessfood

44.945.447.047.547.2

47.348.752.153.655.756.959.464.969.670.3

71.175.777.579.079.579.781.183.885.787.3

89.790.892.093.294.596.7

100.0104.4110.1

116.7122.1

113.3113.9114.6115.4116.0116.5

117.0117.2118.0118.9119.6120.2

120.3120.4120.6120.9121.6122.2

122.4122.7123.1123.5123.7123.9

Allitemslessshel-ter

39.840.341.640.439.7

39.942.447.751.352.253.659.068.573.972.6

73.179.280.881.081.080.681.784.486.987.6

88.989.990.992.193.294.697.4

100.0104.1109.0

114.4119.3

112.0112.4112.8113.5114.0114.4

114.8114.9115.4116.0116.3116.8

117.0117.4118.0118.6119.2119.8

120.0120.2120.2120.3120.4120.9

Commodities

Allcom-modi-ties

40.541.042.641.040.2

40.643.349.654.054.756.362.475.080.478.3

78.885.987.086.785.985.185.988.690.690.7

91.592.092.893.694.695.798.2

100.0103.7108.4

113.5117.4

111.2111.7112.0112.6113.1113.5

113.8113.8114.2114.8115.1115.6

115.4115.5116.1116.6117.2117.9

118.1118.2118.1118.4118.5118.9

Food

36.536.938.435.634.6

35.238.445.150.349.650.758.170.676.673.5

74.582.884.383.082.881.682.284.988.587.1

88.089.189.991.292.494.499.1100.0103.6108.9

114.9118.4

113.5114.1114.2114.6114.9115.2

115.8115.9115.7115.5114.9115.3

115.5115.9117.0117.8118.2119.2

119.8120.0119.1118.9119.0120.3

Commodities less food

All

46.046.548.548.547.7

48.050.456.058.461.664.168.176.882.781.5

81.487.588.388.587.586.987.890.591.592.7

93.193.494.194.895.696.297.5

100.0103.7108.1

112.5116.8

110.0110.3110.6111.4112.0112.5

112.5112.6113.4114.5115.1115.5

115.2115.2115.5115.8116.6117.1

117.0117.1117.4118.0118.1118.1

Dura-ble

45.245.848.749.648.5

48.151.458.460.365.970.974.180.386.287.4

88.495.196.495.793.391.591.594.495.997.3

96.796.697.697.998.898.498.5

100.0103.1107.0

111.8116.5

109.0109.0109.4110.1111.1111.9

112.1112.2112.5113.9114.7115.2

115.2115.0115.2115.7116.6117.4

117.5116.9116.4117.1117.4117.2

Non-dura-

ble

43.143.545.345.044.3

44.746.751.653.856.658.662.972.277.876.3

76.282.082.483.183.583.585.387.688.289.3

90.791.291.892.793.594.897.0

100.0104.1108.8

113.1117.0

110.7111.2111.5112.3112.7112.9

113.0113.0114.1114.9115.4115.7

115.3115.4115.7116.0116.6116.9

116.7117.2118.2118.7118.7118.8

Totalnon-dura-ble

Allservices

39.039.641.139.238.4

38.941.647.651.852.253.759.671.977.274.9

75.482.583.483.283.282.583.786.388.688.2

89.490.290.992.093.094.698.1

100.0103.9108.9

114.0117.7

112.1112.6112.9113.4113.9114.0

114.4114.5114.9115.2115.3115.6

115.4115.7116.4116.9117.4118.1

118.3118.6118.7118.8118.9119.5

Services

40.941.342.643.443.5

43.644.245.646.447.548.249.151.154.356.9

58.761.864.567.369.570.972.775.678.580.8

83.585.286.888.590.292.295.8

100.0105.2112.5

121.6128.4

117.1118.0119.3120.1120.7121.4

122.0122.7123.5124.1124.9125.6

126.3126.6126.6126.8127.5128.2

128.8129.4129.8130.0130.4130.8

Rent

50.651.954.256.056.0

56 257.258.558.558.658.859.261.165.168.0

70.473.276.280.383.284.385.987.589.190.4

91.792.994.095.095.996.998.2100.0102.4105.7

110.1115.2

107.9108.4108.8109.1109.4109.8

110.1110.5110.9111.4111.8112.6

112.9113.6113.9114.4114.7115.2

115.4115.8116.1116.4116.6116.9

Allserv-iceslessrent

37.637.437.838.138.1

38.138.640.342.144.245.146.749.051.954.5

56.059.362.264.866.768.270.173.376.479.0

81.983.985.587.389.291.595.3

100.0105.7113.8

123.7130.9

118.8119.8121.2122.1122.8123.5

124.2124.9125.8126.5127.3128.0

128.7129.0128.9129.1129.8130.6

131.2131.9132.3132.5132.9133.3


248


TABLE B-47.—Consumer price indexes, selected commodities and services, 1935-71

For urban wage earners and clerical workers(1967 = 1001

Year ormonth

1935 . . . .19361937..19381939

194019411942 . . .1943194419451946194719481949

19501951 . . .1952..19531954 . . . .19551956 .195719581959.. .

1960 .1961 . . . .1962196319641965..1966..196719681969 .

1970 . .1971

1970: J a n . . .F e b . . .Mar...Apr. . .May...June. .

July...Aug. . .Sep t . .Oct . . .Nov. . .D e c - .

1971: J a n . . .Feb . .Mar...

May'."June. .

July...A u g . -so e

cf!::Nov...Dec...

Durable commodities

Total »

45.245.848.749.648.5

48.151.458.460.365.970.974 180.386 287.4

88.495.196.495.793.391.591.594.495.997.3

96.796.697.697.998.898.498.5

100.0103.1107.0

111.8116.5

109.0109.0109.4110.1111.1111.9

112.1112.2112.5113.9114.7115.2

115.2115.0115.2115.7116.6117.4

117.5116.9116.4117.1117.4117.2

Newcars

41.141.442.244.243.2

43.346.6

69.275 682.8

83.487.494.995.894.390.993.598.4

101.5105.9

104.5104.5104.1103.5103.2100.999.1

100.0102.8104.4

107.6112.0

106.7106.6106.4106.3106.1105.8

105.7105.5105.1110.8112.5114.1

115.4115.2114.3113.8113.9113.9

113.8109.3105.6109.1109.6110.4

Usedcars

89.275.971.869.177.480.289.5

83.686.994.896.0

100.199.497.0

100.0

104.3110.2

99.397.096.899.7

104.9108.6

108.5106.3104.9107.2108.8109.5

107.0105.5106.8109.8112.8114.1

113.5112.5111.6111.7110.2107.2

House-holddura-bles

52.153.157.757.756.6

55.959 866 969.576.081.886.595.6

101.799.0

100.2109.8106.9105.7102.9100.199.7

101.4102.1102.0

101.9100.7100.6100.3100.298.798.6

100.0103.3107.4

110.2112.9

108.6108.9109.4109.8110.0110.2

110.3110.4110.6111.0111.4111.5

111.5111 8112.1112.4112.7113.1

113.2113.4113.5113.6113.6113.7

Housefur-nish-ings

47.648.452.452.050.9

50.554.061.463.168.673.380.092.798.394.9

95.5106.0103.4102.9101.199.298.199.799.099.0

99.398.798.197.797.697.198.0

100.0103.9108.1

111.4114.3

109.6110.2110.8111.1111.3111.5

111.6111.5111.8112.2112.7112.9

112.7113.2113.5114.0114.1114.7

114.7114.8114.9115.1115.1115.3

Nondurable commod-ities less food

Total

43.143.545.345.044.3

44.746.751.653.856.658.662.972.277.876.3

76.282.082.483.183.583.585.387.688.289.3

90.791.291.892.793.594.897.0

100.0104.1108.8

113.1117.0

110.7111.2111.5112.3112.7112.9

113.0113.0114.1114.9115.4115.7

115.3115.4115.7116.0116.6116.9

116.7117.2118.2118.7118.7118.8

Apparelcom-mod-ities

41.341.844.143.743.0

43.545.853.555.959.863.069.580.485.482.0

81.188.787.786.786.385.887.388.288.289.0

90.390.891.292.092.893.696.0

100.0105.6111.9

116.5120.1

113.8114.4115.0115.4116.1116.3

115.5115.6117.7118.8119.6119.6

117.8118.3118.8119.3120.5120.4

119.5119.1120.9122.0122.4122.2

Non-dura-bleslessfoodand

apparel

45.445.947.046.946.3

46.848.451.153.254.755.858.266.272.372.4

72.977.579.081.081.882.184.187.488.389.6

90.991.392.193.193.995.597.5

100.0103.3107.0

111.2115.2

108.9109.4109.5110.5110.8111.0

111.6111.6112.0112.6113.0113.5

113.8113.8114.0114.0114.3114.9

115.1116.2116.6116.8116.5116.8

Services less rent

Total

37.637.437.838.138.1

38.138.640.342.144.245.146.749.051.954.5

56.059.362.264.866.768.270.173.376.479.0

81.983.985.587.389.291.595.3

100.0105.7113.8

123.7130.9

118.8119.8121.2122.1122.8123.5

124.2124.9125.8126.5127.3128.0

128.7129.0128.9129.1129.8130.6

131.2131.9132.3132.5132.9133.3

House-holdserv-iceslessrent

71.275.479.481.6

85.086.087.189.090.492.195.7

100.0105.9115.3

126.8132.6

120.6122.0124.2125.3126.0126.5

127.2128.1129.1129.8130.7131.6

131.6131 0130.1129.7130.7131.6

132.5133.6134.2134.7135.4136.1

Trans-porta-tion

serv-ices

36.336 035.736.036 1

36.136.338.238.238.238.239.040.344.950.0

53 358.362.466 469.269 470.573.878.581.2

83.385.386.687.589.692.996.8

100.0104.0111.3

123.1133.1

119.1120.0120.3121.1121.6122.4

123.5123.8124.8125.9126.9127.5

129.5131.3132.0133.0133.1134.1

134.3134.1133.8133.9134.0134.2

Med-icalcareserv-ices

31.831 932.332.432 5

32.532.733.735.436.937.940.143.546.448.1

49 251.755.057 058.760 462.865.568.772.0

74.977.780.282.684.687.392.0

100.0107.3116.0

124.2133.3

119.4120.3121.6122.5123.1124.0

124.9125.8126.5126.7127.5128.5

129.3130.2131.4132.2132.9133.5

134.4135.1135.6134.6134.8135.3

Other*

71.173.976.278.0

80.883.485.687.790.192.696.2

100.0105.6110.6

116.7122.5

113.6113.9114.3115.1115.8116.7

117.0117.5118.1118.8119.1119.5

120.7120.9121.2121.5122.0122.5

122.6122.8123.7123.8124.0124.1

1 Includes certain items not shown separately.2 Includes the services components of apparel, personal care, reading and recreation, and other goods and services.3 Not available.Source: Department of Labor, Bureau of Labor Statistics.

249


TABLE B-48.— Wholesale price indexes, by major commodity groups, 1929-71[1967 = 100J

Year or month

1929 _

1930 _19311932 _1933.1934.1935.1936.1937.1938.1939.

1940.1941.19421943.1944.19451946.1947.1948.1949.

1950..1951.1952.1953.1954.1955..1956..1957..1958..1959..

I960 . .1961. .1962. .1963 . .1964. .1965. .1966. .1967. .1968. .1969_.

1970. .1971. .

1970: Jan...Feb..Mar..Apr..May..June.

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

1971: Jan...Feb..Mar..Apr. .May..June.

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

All com-modities

49.1

44.637.633.634.038.641.341.744.540.539.8

40.545.150.953.353.654.662.376.582.878.7

81.891.188.687.487.687.890.793.394.694.8

94.994.594.894.594.796.699.8

100.0102.5106.5

110.4113.9

109.3109.7109.9109.9110.1110.3

110.9110.5111.0111.0110.9111.0

111.8112.8113.0113.3113.8114.3

114.6114.9114.5114.4114.5115.4

Farmproducts

64.1

54.239.729.531.440.048.149.552.942.040.0

41.450.364.875.075.578.590.9

109.4117.5101.6

106.7124.2117.2106.2104.798.296.999.5

103.997.5

97.296.398.096.094.698.7

105.9100.0102.5109.1

111.0112.9

112.8114.0114.6111.6111.3111.6

113.4108.5112.1107.8107.0107.1

108.9113.9113.0113.0114.0116.0

113.4113.2110.5111.3112.2115.8

Processedfoods and

feeds

82.988.780.6

83.492.791.687.488.985.084.987.491.889.4

89.591.091.992.592.395.5

101.2100.0102.2107.3

112.0114.3

112.0112.1111.8111.8111.1111.7

113.3112.9113.0111.8111.7110.7

111.8113.3113.7113.5114.5114.9

116.0115.4114.6114.1114.4115.9

Industrial commodities

Total

48.6

45.239.937.337.41.641.442.245.243.443.3

44.047.350.751.552.353.058.070.876.975.3

78.086.184.184.885.086.990.893.393.695.3

95.394.894.894.795.296.498.5

100.0102.5106.0

110.0114.0

108.3108.7108.9109.3109.7109.8

110.0110.2110.4111.3111.3111.7

112.2112.5112.8113.3113.7113.9

114.5115.1115.0115.0114.9115.3

Textileproducts

andapparel

103.6108.198.9

102.7114.6103.4100.898.698.798.798.897.098.4

99.597.798.698.599.299.8

100.1100.0103.7106.0

107.2108.6

107.4107.3107.4107.2107.2107.2

107.1107.4107.5107.3107.1106.7

106.9106.7106.9107.5107.8108.5

109.2109.7109.7109.6109.8110.6

Hides,skins,

leather,and

relatedproducts

48.9

44.938.632.836.338.840.242.746.941.642.8

45.248.452.852.752.252.961.183.384.279.9

86.399.180.181.377.677.381.982.082.994.2

90.891.792.790.090.394.3

103.4100.0103.2108.9

110.1114.0

109.3109.4109.5111.0110.4109.9

109.8109.8109.9110.4110.9110.4

111.7112.4112.5114.0114.4114.2

114.2114.4114.7114.7115.1116.2

Fuels andrelated

products,~nd

power

59.4

56.248.350.347.652.452.654.555.554.652.3

51.454.656.257.859.560.164.476.990.586.2

87.190.390.192.691.391.294.099.195.395.3

96.197.296.796.393.795.597.8

100.098.9

100.9

105.9114.2

101.9102.7102.6103.8105.3104.8

105.1105.8107.1108.7109.7112.8

113.5113.0112.8113.0114.2114.4

114.4114.8115.3114.8114.7115.0

Chemicalsand alliedproducts

47.449.651.752.054.551.851.5

52.457.063.364.164.865.270.593.795.987.6

88.9101.796.597.798.998.599.1

101.2102.0101.6

101.8100.799.197.998.399.099.4

100.099.899.9

102.2104.2

100.7101.1101.6102.0102.2102.1

102.5102.7102.5103.0103.3103.3

103.8104.2104.5104.5104.3104.4

104.4104.3104.3104.2103.8103.4


250


TABLE B-48.- -Wholesale price indexes, by major commodity groups, 1929—71—Continued[1967=1001

Year or month

1929

1930193119321933 . .193419351936 . , .193719381939

1940 . .19411942 .1943194419451946 . .1947.. .19481949

195019511952 . . . .195319541955 .1956195719581959- .1960196119621963.196419651966196719681969 .

197019711970: Jan

FebMar...AprMay . .JuneJulyAug...SeptOctNov .D e c .

1971: Jan... .FebMarAprMayJune

JulyAug...SeptOctNov _. . .Dec

Rubberand

plasticproducts

59.4

52.044 238 340 247 047 351 060 058.961.2

57.161 571 673.672.770 570 870.572.870.5

85.9105 495.589.190 4

102.4103.8103.4103 3102.9

103.199 296.396.895 595 997.8

100.0103.4105.3108.6109.2

108.0107.9107.7107.5107.5107.4

109.0109.7109.4109 5109.1109.4

108.4109.1109.1109.0108.7108.7

109.7109.8109.7109.5109.5109.4

Lumberand

woodproducts

25.0

22.918.616.019.022 321.422.426 524.124.8

27.432 735.637.740.641 247 273.484.077.7

89.397 294.494.392 697.198.593.592 498.895.391 091.693.595 495 9

100.2100.0113.3125.3113.7127.0

115.4114.0113.4113.9114.8114.0

113.5114.0114.2113 1111.9111.1

112.2117.5123.4124.6124.9126.1

130.6134.6134.3131.8131.3132.7

Pulp,paper,and

alliedproducts

72.575.772.4

74.388 085.785.585 587.893.695.496 497.3

98.195 296.395.695 496 298.8

100.0101.1104.0108.2110.1

107.0107.7108.0108.4108.2108.1

108.4108.2108.3108 9108.7108.5

109.0109.3109.3109.6109.9110.2

110.5110.6110.6110.6110.6110.7

ndustrial commodities—Continued

Metalsand

metalproducts

40.2

36.232.629.930.733.933.834.539.438.037.6

37.838 539.139.039.039 644.354.962.563.0

66.373.873.976.376.982.189.291.090 492.3

92.491 991.291.393 896.498.8

100.0102.6108.5

116.7119.0

114.0115.1115.9116.6117.4117.8

117.7117.5117.4117 7116.8116.2

116.5116.4116.5117.8118.5118.5

119.4121.1121.1121.0120.9120.8

Machin-ery andequip-ment

41.3

41.442.142.842.442.142.246.453.758.261.0

63.170.570.672.273 475.781.887.689.491.392.091.992.092.292 893 996.8

100.0103.2106.5

111.4115.5

109.6109.8110.1110.4110.6111.0

111.5111.6112.1112 7113.1113.8

114.2114.6114.9115.0115.3115.5

115.7116.1116.0116.0115.9116.2

Furni-ture andhouse-hold

durables

55.8

54.950.544.544.648.548.148.854.152.852.6

53.857 261.861.463.163.267 177.081.682.9

84.791 890.191.992 993.395.898.399 199.399.098 497.797.097 496 998.0

100 0102.8104.9

107.5109.9

106.3106.7106.9107.1107.1107.4

107.6107.7107.8108 0108.4108.7

109.3109.7109.6109.7109.9109.8

110.0110.2110.2110.2110.2110.2

Nonme-tallic

mineralproducts

51.2

51.047.744.647.250.450.450.551.750.049.1

49.150.252.352.453.555.759.366.371.673.5

75.480.180.183.385.187.591.394.895.897.0

97.297.697.697.197.397.598.4

100.0103.7107.7113.3122.4

111.7112.1112.5112.9113.0113.0

113.2113.6113.8114.2114.6115.1

118.8119.0120.9121.6121.8122.2

123.3124.2124.2124.1124.0124.2

Trans-portation

equip-ment:Motor

vehiclesand

equip-ment i

41.9

39.437 536.534.836.735 234.937.439.939.1

40.443 247.247.247.548.356.064.170.875.7

75.379.484.083.683.886.391.295.198.1

100.3

98.898.698.697.898 398.598.6

100.0102.8104.8108.5114.7

106.8106.8107.0106.9107.0107.1

107.0107.1107.3I P . 5112.8113.4

113.9114.1113.8114.1114.2114.4

114.7114.9113.8115.2115.3117.5

Miscel-laneous

products

73.576.578.0

79.283.983.485.686.486.587.690.292.092.2

93.093.393.794.595.295.997.7

100.0102.2105.2

109.9112.8

107.4107.5107.8107.8108.1110.7

111.1111.2111.5111.6111.8111.9

112.3112.6112.8112.7112.5112.6

112.8113.0113.0113.0113.1113.2

i Index for total transportation equipment is not shown but is available beginning December 1968.Source: Department of Labor, Bureau of Labor Statistics.

251


TABLE B-49.— Wholesale price indexes, by stage of processing, 1947-71

[1967=100]

Year or month

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

1950 .1951...195219531954. .

195519561957 .19581959

196019611962 .19631964...

19651966196719681969 . .

19701971





Allcom-modi-ties

76.582.878.7

81.891.188.687.487.6

87.890.793.394.694.8

94.994.594.894.594.7

96.699.8

100.0102.5106.5

110.4113.9

109.3109.7109.9109.9110.1110.3

110.9110.5111.0111.0110.9111.0

111.8112.8113.0113.3113.8114.3

114.6114.9114.5114.4114.5115.4

Crude materials

Total

101.2110.996.0

104.6120.1110.3101.9101.0

97.197.699.8

102.099.4

97.096.597.595.494.5

99.3105.7100.0101.6108.3

112.2115.0

111.1113.5114.7113.9113.3113.5

114.3111.3113.0111.3108.7108.6

110.7115.9114.3115.2115.8116.9

116.6115.2113.9114.3114.3117.0

Food-stuffsand

feed-stuffs

111.7120.8100.3

107.6124.5117.2104.9104.9

95.193.197.2

103.096.2

95.193.895.792.990.8

97.1105.9100.0101.3109.1

112 1114.2

111.6114.1115.9113.9113.0113.4

115.2111.1113.0110.1106.9106.3

108.9116.4114.0114.4115.4117.1

116.6114.5112.1112.6112.7115.8

Non-foodmate-rials,

exceptfuel

90.6100.791.6

104.7120.7104.6100.198.2

103 8107 6106.2102.2105 8

101 4102 5102.0100.7102.4

104.5106 7100.0102.1106.8

109 8110.5

110.3111.9111.6112.0111.9110.9

109.3108.5108.8108.5106.7107.7

108.9109.8109.4110.6110.3110.1

110.4110.2111.1111.1111.1112.8

Fuel

66.678.778.3

77.979.479.982.779.0

78.884.489.290.391.9

92.892.692.193.292.8

93.596.3

100.0102.3106.4

122.3138.5

110.6112.9113.3119.0119.3121.6

123.0123.9126.4132.3132.0132.9

134.4133.4134.5138.5139.0139.4

139.7139.3140.3140.6140.6142.7

Intermediate materials, supplies, and components1

Total

72.478.375.2

78.688.185.586.086.5

88 192.094.194.395.6

95.695.094.995.295.5

96.899.2

100.0102.3105.9

109.8114.0

108.3108.6108.7109.2109.6109.8

110.2110.4110.6110.9110.9111.0

111.5111.8112.6113.1113.6114.0

114.8115.6115.4115.0115.0115.4

Materials and components formanufacturing

Total

72.177.874.5

78.188.584.886.286.3

88.492.694.895.296.5

96.595.394.794.995.9

97.499.3

100.0102.2105.8

110.0113.0

108.5108.8109.3109.8110.1110.2

110.5110.6110.5110.8110.6110.3

110.6110.9111.4112.1112.6112.8

113.6114.6114.4114.2114.2114.4

Materials

For foodmanu-factur-

ing

94.096.983.3

86.796.692.993.092.2

89.389.791.393.490.0

91.194.092.-9b. b95.2

97.6101.9100.0101.5107.1

112.9116.2

110.9111.3112.5113.0112.2112.6

113.8113.7113.6114.0114.5112.5

113.2114.9115.5115.2116.2116.3

117.5118.3117.1116.6116.8117.3

Fornon-

durablemanu-factur-

ing

95.2100.891.9

96.5111.8100.699.898.2

98.6100.1101.4100.4102.1

102.199.999.398.499.1

100.0100.8100.0101.3102.4

104.0105.6

103.6103.6103.7104.1104.2103.7

104.0104.2103.9104.1103.9104.0

104.0104.4104.8105.4105.5105.9

106.1106.3106.2105.9105.9106.3

Fordurablemanu-factur-

ing

54.461.463.1

66.774.174.377.679.3

83.388.591.492.094.2

94.393.092.993.094.8

96.898.6

100.0103.3109.1

115.1118.8

113.0113.5114.2115.2116.0116.2

116.1115.9115.4115.6115.0114.3

114.7114.8115.9117.2118.0118.1

119.6121.7121.6121.4121.2121.0

Com-ponents

58.363.064.2

66.675.675 777.177.5

80.988.391.892.593.6

93.192.291.591.592.3

93.897.1

100.0102.3105.6

111.1114.7

109.0109.3109.5109.9110.2110.8

111.4111.9112.6113.0113.0113.3

113.6113.6113.6113.8114.1114.5

114.9115.5115.6115.4115.6115.8

Mate-

andcom-

ponentsfor con-struc-tion

66.073.173.2

77.084.383.785.185.5

88.993.594.094.096.6

95.994.694.294.595.4

96.298.8

100.0104.9110.9

112.6119.5

111.3111.3111.7112.1112.5112.8

113.0113.5113.6113.6113.1113.1

114.1115.4117.3118.0118.5119.2

120.8122.5122.5121.9121.8122.3


252


TABLE B-49.— Wholesale price indexes, by stage of processing, 1947-71—Continued

11867 = 100]

Year or month

194719481949 .

19501951 __|1952 __|19531954

19551956195719581959

I960..1961196219631964 . . . . . . . .

19651966196719681969

19701971

1970:JanFebMarAprMay.June . .

July .Aug -. .-SeptOct .NovDec

1971- JanFeb .MarAprMayJune .-

JulyAugSeptOctNovDec - -

Total

74.079.977.6

79.086.586.085.185.3

85.587.991.193.293.0

93.793.794.093.794.1

95.798.8

100.0102.9106.6

110.4113.5

109.8109.8110.0109.6109.7110.0

110.6110.1110.8110.9111.4111.5

112.2112.8112.9112.9113.5113.8

113.8114.1113 6113.8114.0115.0

Finisheci goods

Consumer finished goods

Total

80 586.582.5

83.991.890.789.289.1

88.589.892.494.493..6

94.594.394.694.194.3

96.199.4

100.0102.7106.5

109.9112.7

109.6109.6109.7109.2109.3109.6

110.3109.5110.4110.1110.5110.5

111.3112.0112.1112.0112.7113.1

113.0113.3112.7112 9113.1114.2

Foods

82.890.483.1

84.795.294.389.488.7

86.586.389.394.590.1

92.191.792.591.491.9

95.4101.6100.0103.7110.0

113.4115.2

115.4115.0115.1113.3112.9113.4

115.0112.6114.2111.3112.0111.0

112.3113.9114.6114.5115.6116.4

115.6116.1114.9115.0115.7117.7

Othernon-

durablegoods

80.785.882.3

83.690.087.888.688.9

89.491.193.292.694.0

94.794.794.895.194.8

95.997.8

100.0102.2105.0

108.2111.3

106.5106.9107.0107.2107.8108.1

108.2108.6109.0109.2109.5110.4

110.9110.8110.7110.5111.0111.2

111.6111.8111.9111.7111.7111.8

Du-rablegoods

74.679 781.8

82.788.288.989.690.3

91.294.397.198.499.6

99.298.898.397.898.2

97.998.5

100.0102.2104.0

107.1110.9

105.6105.8106.0106.0106.2106.3

106.5106.5106.6109.7109.9109.9

110.5110.8110.4110.5110.7110.7

111.0111.1110.4111.3111.3112.6

I

Pro-ducer

finishedgoods

55.460.463.4

64.971.272.473.674.5

76.782.487.589.891.5

91.791.892.292.493.3

94.496.8

100.0103.5106.9

111.9116.6

110.1110.3110.7110.8111.1111.3

111.6111.9112.3113.8114.2115.1

115.6115.9116.0116.1116.3116.5

116.8117.1116.9117.1117.0117.8

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

100.9104.5100.0102.0110.6

118.8122.7

116.0118.5118.5120.3120.0119.5

118.0117.2118.7120.6118.2119.8

121.4121.8121.4124.1123.5122.8

122.7122.3123.0122.9122.6123.4

Inter-mediate

materials,supplies,and com-ponents 3

70.076 174.2

77.787.084.385.385.7

88.392.695.094.896.4

96.895.595.395.095.6

96.998.9

100.0102.6106.2

110.0114.3

108.3108.7109.0109.4109.9110.1

110.3110.5110.7111.0111.0111.0

111.5112.0112.7113.3113.8114.1

114.9115.9115.9115.7115.6115.8

Con-sumer

finishedgoods ex-

cludingfoods

79.084 082.2

83.589.588.389.189.4

90 192.394.694.795.9

96.396.296.096.095.9

96.698.1

100.0102.1104.6

107.7111.2

106.2106.4106.6106.7107.1107.3

107.5107.7108.0109.4109.6110.2

110.7110.8110.6110.5110.9111.0

111.4111.5111.3111.6111.6112.1

* 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 Price

Indexes," January-February 1967.


253

451-688 0—72- -17


TABLE B-50.~—Percentage changes from previous month in indexes for major groupings of theconsumer price index, 1968-71

[Percent]

Year and month

1968: Jan.FebMar.AprMayJune

JulyAugSeptOctNov. . .Dec

1969: JanFebMar..AprMayJune

JulyAugSept.Oct .NnvDec

1970: JanFeb .Mar . . . . _.AprMayJune . . .

JulyAug.. . . . .Sept -Oct 'Nov..Dec

1971: JanFebMarApr . . .MayJune.


All items

Un-adjusted

0.4.3.5.3.3.6

.5

.3

.3

.6

. 4

.3

.3

.4

.8

.6

.3

.6

.5

.5

.5

.4

.5

.6

.4

.5

.5

.6

.4

.5

.3

.2

.5

.5

.3

.5

. 1

.2

.3

.3

.5

.6

.2

. 2

. 1

. 2

.2

.4

Season-ally

adjusted

0.6.3.4.2.3.5

.4

.4

.3

.5

.4

.3

.5

.4

.7

.6

.3

.5

. 4

.5

.5

.3

.6

.6

.5

. 6

.4

.5

.5

.4

.3

.3

.5

.5

.3

.5

3.2

2.3.6

. 2

.3

. 1

. 1

.2

.4

Food

Un-adjusted

0.7.3.4. 4.4.3

.8

.4- . 1

.4- . 3

.6

7- . 1

.5

.6

.51.4

1.0.5.13

.71.4

.6

.5

.1

.4

.3

.3

. 5

. 1- . 2- . 2- . 5

. 3

. 2

.3

.9

.7

.3

.8

.5

. 2- . 8- . 2

.11.1

Season-ally

adjusted

0.6.3.5.4.5

.3

.3

.4

.6

.3

.2

.5

.0

.6

.6

.61.0

.5

.5

.6- . 11.41.0

.4

.7

.1

.4

.2- . 1

. 1

.0

.3

.0

.1- . 1

.0

.5

.9

.9

. 2

.5

. 1

. 1- . 3

.0

.7

Commodities less food

Un-adjusted

0.1.3.4. 2.3.5

.2

.2

.4

.7

.6- . 1

- 2.7.9.3.3

.1

.0

.5

.9

.4

.1

- . 2.3.3.7.5. 4

.0

.1

.71.0.5.3

- . 3.0.3.3.7.4

- . 1. 1.3.5.1.0

Season-ally

adjusted

0.5.3. 3. 1.3.5

.3

.4

. 2

.3

.4

.2

.3

.6

.8

.2

.3

.4

. 3

. 2

. 3

.5

.3

.4

. 3

. 2

.2

. 6

.5

.4

. 2

.3

.5

.4

.4

.7

. 2

.2

. 2

.7

.3

!3. 0. 0.0.3

Servicesl

Un-adjusted

0.5.4. 6.4.4.7

.7

.5

.4

.5

. 6

.5

.6

.6

.8

.8

.4

.4

.5

.6

.7

.3

.5

.7

.9

.81.1.7.5.6

.5

.6

.7

.5

.6

.6

.6

.2

.0

.2

. 6

.5

.5

.5

.3

.2

.3

.3

1 Percentage changes for services are based on unadjusted indexes since these prices have little seasonal movement.

Note.—The seasonally adjusted changes for the all items index are based on seasonal adjustment factors and seasonallyadjusted indexes carried to two decimal places.


254


TABLE B-51.—Percentage changes from previous month in indexes for major groupings of thewholesale price index, 1968—71

(Percentl

Year and month

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


1969: Jan..Feb..Mar..Apr_.May_.June.

July..Aug._Sept.Oct..Nov..Dec .

1970: Jan..Feb_.Mar..Apr..May..June.

July..Aug..Sept.Oct_.Nov..Dec .

1971: Jan..Feb..Mar..Apr_.May..June.

July..Aug..Sept.Oct__Nov..Dec .

All commodities

Unad-justed

0.3.8.2.0.3.1

.3- . 3

.4

.0

.4

.3

.7

.5

.6

.1

.8

.5

.2- . 1

.2

.3

.7

.6

.4

.2

.0

.2

.2

.5- . 4

.5

.0- . 1

.1

.7

.9

.2

.3

.4

.4

.3

.3- . 3- . 1

.1

Season-ally

adjusted

0.0.6.3.2.2

- . 0

.2

.1

.4

.2

.4

.2

.4

.3

.7

.3

.6

.4

.1

.3

.1

.5

.7

.4

.3

.2

.2

.2

.0

.1

.5

.1

.4

.2- . 1

.0

.4

.8

.2

.5

.3

.4

.2

.7- . 4

.1

.1

.7

Farm productsand processed

foods andfeeds

Unad-justed

0.51.4.1

i

L2.1

1.2- 1 . 4

.6- 1 . 0

.9

.1

1.4.2.6.2

3.01.3

.2- 1 . 3- . 2

.01.2.7

1.4.4.1

- 1 . 05'.4

1.5- 1 . 9

1.3- 2 . 0- . 4- . 5

1.32.6

- . 2- . 1

.91.0

- . 3- . 3

- 1 . 4.0.5

2.0

Season-ally

adjusted

- 0 . 31.2.5.4.5

- . 9

.0

.4

.01.1

- . 1

.5

.0

.9

.82.3.5

- . 3.2

- . 51.21.3.6

.4

.3

.3- . 4

- 1 . 5- . 2

- . 2.9

-j

-A- . 5

.22.5.0.5

- . 2.4

- 1 . 01.4

- 1 . 71.4.3

2.1

Farm products

Unad-justed

0.12.2.8.0

1.6- 1 . 2

1.4- 2 . 4

1.4- 1 . 6

2.0.2

1.5.2

1.4- . 74.7.5

- . 4- 2 . 1

- ! 63.0

.9

.41.1.5

- 2 . 6- . 3

.3

1.6- 4 . 3

3.3- 3 . 8- . 7

.1

1.74.6

- . 8.0.9

1.8

- 2 . 2- . 2

- 2 . 4.7.8

3.2

Season-ally

adjusted

- 0 . 71.7.7.7.3

- 1 . 5

1.0- . 21.3

- . 11.6

- . 5

- . 41.2.4

3.1.4

- 1 . 0.5

- . 5.9

2.4.4

- . 5.5.1

- 1 . 2- 2 . 1

.2

.9- 1 . 4

2.8- 2 . 1- 1 . 5- . 3

- 1 . 21.4

- 1 . 11.7

2.92.92.92.6.0

2.8

Processed foodsand feeds

Unad-justed

0.8

- . 2- . 2

1.0

1.0

.2

1.0.3

1.71.9

.0

.7

2.0.1

- . 3.0

- . 6.5

1.4- . 4

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

1.01.3.4

- . 2.9.3

1.0- . 5

- ! 4.3

1.3

Season-ally

adjusted

0.01.0.4.1.5

- . 3

.6- . 1

.2

.0

.6

.0

.3

.3

.91.01.4.7

.0

.2- . 11.0.5.7

1.0.3.4

-l'.O- . 5

.8

.4

.12

.*3

- . 11.51.0.0.6

.4

.3- . 7

.5

.51.4

Industrialcommodities

Unad-justed

0.4.5.2.2

- . 1.1

.0

.1

.3

.5

.1

.4

.5

.6

.5

.1

.0

.1

.1

.4

.4

.6

.3

.4

.5

.4

.2

.4

.4

.1

.2

.2

.2

.8

.0

.4

.4

.3

.3

.4

.4

.2

.5

.5- . 1

.0- . 1

.3

Season-ally

adjusted

0.3.4.2.3

- . 0.2

.1

.1

.3

.3

.1

.4

.3

.5

.5

.2

.1

.2

.2

.4

.4

.3

.4

.3

".2.2.4.5.3

.3

.2

.2

.5

.1

.3

.3

.1

.3

.5

.4

.3

.7

.5- . 1- . 3

. 0


255


MONEY STOCK, CREDIT, AND FINANCETABLE B-52.—Money stock measures, 1947-71

[Averages of daily figures; billions of dollars, seasonally adjusted]

Year andmonth

1947: Dec1948: Dec1949: Dec...

1950: Dec1951: Dec1952: Dec1953: Dec1954: Dec1955: Dec1956: Dec1957: Dec1958: Dec1959: Dec

I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec1965: Dec1966: Dec1967: Dec1968: Dec1969: Dec

1970: Dec1971: Dec*.—1970:Jan

FebMarAprMayJuneJulyAugSeptOctNovDec

1971:Jan. . .FebMarAprMayJuneJulyAugSeptOctNov pDec p

Overall measures

Mi(Currency

plusdemanddeposits)

113.1111.5111.2

116.2122.7127.4128.8132.3135.2136.9135.9141.1142.6

141.7146.0148.1153 6160.5168.0171.7183.1197.4203.7

214.8228.2205.5204.7206.7208.3209.0209.4210.3211.6212.8213.1213.6214.8215.3217.7219.7221.2223.8225.5227.4228.0227.6227.7227.7228.2

M2(Mi plus

timedepositsat com-mercialbanks

other thanlargeCD's)

273.8298.1314.0345.7378.0386. 8

418.2464.7388.5387.4390.4393.9396.2398.1401.7405.6409.2412.0414.3418.2423.1430.4437.1441.5446.6450.6453.4454.5455.6458.3460.8464.7

M3(M2 plusdepositsat non-bankthrift

institu-tions)

422.9459.4481.3528.8572.6588.4

634.1718.1589.9588.7592.4597.0600.4603.4608.7614.2619.3624.0628.1634.1642.5653.7664.2672.9681.5688.6694.5698.0701.4706.7711.8718.1

Components and related items

Cur-rency i

26.425 825 1

25 026 127.327.727 427 828.228.328.628.9

28.9

Deposits at commercial banks

De-mand 2

86.785.886.0

91.296.5

100.1101.1104.9107.4108.7107.6112.6113.7

112.829.6 116.530.6 j 117.6

Time and savings3

Total

35.436 036.4

36.738.241.144.548 350.051.957.465.467.4

72.982.797.8

32 5 121.1 112.234.236.338.340.443.446.0

49.052.546.246.446.747.147.647.748.048.148.348.548.749.049.349.750.050.550.851.151.651.751.952.252.252.5

126.3131.7133.4142.7154.0157.7

165.8175.7159.3158.3160.0161.2161.4161.7162.4163.5164.5164.6164.9165.8166.0168.0169.7170.7173.0174.5

175.8176.3175.7175.5175.5175.7

126.6146.8158.1183.4204.2194.1

228.9269.9193. 4193.4195.2198.7200.6202.3208.4213.2217.7221.5224.2228.9234.4240.2245.4248.1251.3254.4256.4257.3259.6263.3265.3269.9

LargeCD's*

13.316.715.920.823.611.0

25.533.410.410.711.513.113.413.617.019.321.322.623.625.526.627.528.127.828.529.430.430.831.632.732.233.4

Other

113.3130.1142.2162.6180.6183.2

203.4236.5183.0182.7183.7185.6187.2188.7191.4193.9196.4198.9200.6203.4207.8212.7217.4220.3222.8225.0225.9226.5228.0230.6233.1236.5

Depositsat non-bankthrift

institu-tions 5

149.2161.3167.4183.1194.6201.5

215.9253.4201.4201.3202.0203.1204.2205.3207.0208.6210.1212.0213.8215.9219.4223.3227.1231.4234.9238.0241.1243.6245.8248.4251.0253.4

U.S.Govern-

mentdemanddeposits(unad-

justed)*

1.01.82.8

2.42.74.93.85.03.43.43.53.94.9

4.74.95.65.15.54.63.45.05.05.6

7.36.64.87.16.95.36.46.56.87.16.96.25.77.36.88.45.55.57.85.36.86.87.55.33. 96.6

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 and savings deposits other than those due to domestic commercial banks and the U.S. Government.4 Negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting com-

mercial banks.s Average of the beginning- and end-of-month deposits of mutual savings banks and savings and loan shares.6 Deposits at all commercial banks.

Note.—Effective June 1966, balances accumulated for payment of personal loans were reclassified for reserve purposesand are excluded from time deposits reported by member banks. The estimated amount of such deposits at all com-mercial banks ($1.1 billion) is excluded from time and savings deposits thereafter.


256


TABLE B-53.—Bank loans and investments, 1930-71


End of yearor month 1

1930:June1931:June1932:June1933:June1934:June1935193619371938193919401941194219431944 . . . .1945 . . . .19461947 . . - .1948

194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971 v

1971: JanFebMar..AprMayJuneJulyAugSept*OctpNOVPDeep . .

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

Loans2

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

Loans plusloans sold to

bank affiliates2

Seasonally adjusted

113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2

« 188.7197.4212.8231.2250.2272.4300.1

6 316.1352.0390.6

7 402.1435.9482.9440.7446.1449.5452.5456.1461.1463.7468.4472.4476.5478.4482.9

41.542.051.156.562.866.269.180.688.191.595.6

« 110.5116.7123.6137.3153.6172.9198.2

6 213.9231.3258.2

7 279.4292.0

8318.6293.7295.7296.5298.2300.7

8 301.7304.1309.7313.0316.4317.5318.6

62.366.461.160.462.262.267.660.357.256.965.1

5 57.759.865.364.761.760.857.153.559.361.0

7 51.558.060.358.960.861.160.760.462.861.660.959.959.158.960.3

9.210.312.413.414.214.716.416.816.317.920.5

5 20.520.823.929.235.038.744.8

e 48.761.471.4

7 71.285.9

8 103.988.189.691.993.595.1

8 96.698.097.899.5

101.0102.0103.9

7 283.3294.9

8 321.5296.6298.6299.3300.9303.5

8 304. 8307.0312.4316.0319.3320.3321.5

Weekly re-porting largecommercial

banks 3

Businessloans*

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 53.160.765.873.181.581.783.880.180.881.281.181.482.381.682.483.583.182.683.8

i Data are for last Wednesday of month (except June 30 and December 31 call dates used for all commercial banks).' Adjusted to exclude all interbank loans beginning 1948 and do-nestic bank loans only beginning January 1959.3 Weekly reporting large commercial banks beginning 1965 and weekly reporting member banks prior to 1965.< Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans to financial institu-

tions excluded. Prior to 1943. published data adjusted to include open-market paper.5 Beginning January 1959, loans and investments are reported gross, without valuation reserves deducted, rather than

net of valuation reserves, as in earlier periods.e 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.

7 Beginning June 1969, data include all bank-premises subsidiaries and other significant majority-owned domesticsubsidiaries; earlier data include commercial banks only.

s Beginning June 1971, Farmers Home Administration insured notes totaling about $0.7 billion are classified as othersecurities rather than as loans.


257


TABLE B-54.—Total funds raised in credit markets by nonfinancial sectors, 1963-71


Nonfinancial sector

Total funds raised

U.S. Government..

1963

Public debt securities.Budget agency issues.

All other sectors

Corporate equity shares.Debt instruments

Debt capital instruments

State and local govern-ment securities

Corporate and foreignbonds

Mortgages

Home . . -Other residential. _CommercialFarm

Other private credit-

Bank loans n.e.cConsumer creditOpen-market paperOther

Total funds supplied directly.

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

Funds advanced..Less funds raised.

Federal Reserve System.Commercial banks, net..Private nonbank finance.

Savings institutions, net-InsuranceFinance n.e.c, net

Funds advanced..Less funds raised.

Foreign

Private domestic nonfinancial..

BusinessState and local government,

general fundsHouseholdsLess net security credit

57.7

4.0

4.1

53.7

- . 253.9

35.9

5.9

4.925.1

15.13.25.11.6

18.0

6.07.9.0

4.1

57.7

1.5.1

1.61.4

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

1.658.9

36.3

5.7

4.526.1

15.64.53.82.1

22.6

8.38.5.7

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

4.0- . 2

1965

70.4

1.7

1.3.4

68.7

.368.4

38.8

7.3

5.925.6

15.43.64.42.2

29.5

14.210.0-.35.7

70.4

2.8.0

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

.964.0

39.0

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

83.5

13.0

8.94.1

70.5

2.468.1

46.6

8.7

15.922.0

11.63.64.72.1

21.6

9.64.62.15.2

83.5

4.6.5

-.1-.6

4.836.634.4

16.818.7-1.1

4.45.6

2.8

-.2

-.2

2.1.02.2

1968

96.9

13.4

10.33.1

83.5

-.784.2

50.9

9.6

14.027.3

15.23.56.62.1

33.3

13.411.11.67.3

96.9

4.9-.2

3.23.5

3.739.534.2

14.622.0-2.5

9.812.3

2.5

12.3

7.4

.45.81.4

1969

90.4

-3.6

-1.3-2.4

94.1

4.889.3

49.1

8.1

13.127.9

15.74.85.51.9

40.2

15.79.33.311.8

90.4

2.5.2

9.08.8

4.212.230.1

10.421.8-2.1

9.811.9

1.3

39.8

13.8

6.118.3-1.6

1970

97.5

12.8

12.9- . 1

84.7

6.877.9

58.8

11.8

21.125.8

12.85.95.41.8

19.2

2.74.33.88.4

97.5

3.21.2

9.98.7

5.031.338.9

14.724.9- . 7

4.95.6

10.9

7.1

- 1 . 0

- 3 . 810.6

- 1 . 4

See footnote at end of table.

258


TABLE B-54.—Total funds raised in credit markets by nonfinancial sectors, 1963-71—Continued


Nonfinancial sector

Total funds raised

U.S. Government

Public debt securities

Budget agency issues

All other sectors

Corporate equity shares

Debt instruments

Debt capital instruments

State and local government securitiesCorporate and foreign bondsMortgages

HomeOther residentialCommercialFarm

Other private credit

Bank loans n.e.cConsumer creditOpen-market paperOther

Total funds supplied directly

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

Funds advancedLess funds raised

Federal Reserve SystemCommercial banks, netPrivate nonbank finance

Savings institutions, netInsuranceFinance n.e.c, net

Funds advaneed

Less funds raised

Foreign

Private domestic nonfinancial

BusinessState and local government, general fundsHouseholdsLess net security credit


1971

1

21

1

2

19

2.17.

18

unadjusted quarter-ly flows

0

6

37

4

31

9

5.96.06.9

3.11.71.6.6

- 1 . 7

- 3 . 0- 3 . 2

1.23.3

21.

1.

_ '

2.1.

18.

11.7.

- 1 .

j

6.

- 9 .

0

27

24

317

980

55

5

4

- . 61.1

-10.12

II

40.8

1

1

8

91

39.0

4.234.8

22

45

11

4

897

6.32.52.3

.5

12

73

- 12

40

1.j

- 1 .

17!19.

12.7.

l!

7.

- 4 .

- 4 !1.

4

3825

8

04

13

156

294

60

3

2

0902

III

41.7

9.6

9.5.1

32.1

3.129.0

22.3

4.34.5

13.4

7.62.8

!s6.7

2.63.31.1

- . 3

41.7

.8- . 4

1.82.2

2.17.1

17.1

9.28.3

- . 4

- . 9- . 6

11.3

3.7

.3

4! 7.7

1971

1

112.

- 1 .

seasonally adjustedannual rates

5

6

1.4- 2 . 9

114.

9.104.

82.

25.25.31.

0

28

4

608

15.07.37.32.2

22. 4

4.54.02.9

10.9

112.

4.2.

-l".

16.39.71.

5

31

38

130

45.429.5

- 3 . 9

3!

27.

- 4 7 .

1.

- 5 l !

27

3

7

2815

II

175.7

47.7

48.0- . 2

128.0

16.9111.1

84.5

16.323.245.0

24.710.29.01.2

26.6

12.99.0

-3 .88.4

175.7

4.4-6 .4

-5 .7.7

1.959.682.5

50.034.5

-1 .9

-1 .8.1

30.5

3.1

6.53.0

-1 .45.0

III

162.9

20.6

20.2.4

142.3

12.5129.8

87.3

17.817.352.2

29.011.29.82.2

42.5

24.112.62.73.1

162.9

3.2- . 3

8.38.6

7.241.165.9

35.632.4

-2 .1

2.54.6

39.2

6.7

9.0-2 .2

2.93.0

259


TABLE B-55.—Selected liquid assets held by the public, 1946-71

[Billions of dollars, seasonally adjusted]

End of year or month

194619471948. .1949 .

19501951 . .195219531954 . . .

19551956195719581959

19601961196219631964

19651966«1967 . . .19681969

19701971 v



1971- JanFebMarAprMayJune

J u l yAugSectOctNov pDec*

Total

239.1246.2254.1262.1

271.4281.0296.0311.5320.3

332.5343.2356.0373.1393.9

399.2424.6459.0495.4530.5

573.1601.5650.4709.6731.7

786.1879.7

720.5721.9733 5731.2733.9738.4

749 7750.9765.3764.6773.87£6.1

788 9796.6815.8815 5824.8826.6

836. 3841.7851.5856.2863.0879.7

Demanddeposits

andcurrency2

108.5112.4110.5110.4

115.5120.9125.5127.3130.2

133.3134.8133.5138.8139.7

138.4142.6144.8149.6156.7

164.1168.6180.7

e 199 2206.8

207.6222.3

195.4194.8199 3196.7197.9199.8

198 7199.3203.6199.8201.5207.6

202 9204 62*1.6206 3212.5218.4

213.8215.0214.4214.5215.3222.3

Time d

Com-mercial-banks s

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 8197.1

234.8274.9

196.0196.7198 8201.5201.7202.9

211 8215.4221.5224.6230.4234.8

240 0244 5249.5250.2252.3254.7

256.5258.2263.5266.5272.4274.9

eposits

Mutualsavingsbanks

16.917.818.419.3

20.120.922.624.426.3

28.130.031.633.934.9

36.238.341.444.549.0

52 655.260.364 767.3

71.581.2

67.067.467 568.068.468.7

69 269.469.970.470.971.5

72 273.574.775.976.877.6

78.378.679.380.080.881.2

Postalsavingssystem

3.33.43.33.2

2.92.72.52.42.1

1.91.61.31.1.9

.8

.6

.5

.5

.4

.3

.1

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

109.8113.4123.9131.0134.9

145. 7173.5

133.6134.2135.7136.3136.8137.4

139.0140.1142.2143.3144.5145.7

148.4151.3155.4158.0159.9161.5

164.4166.1169.1170.6172.4173.5

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

52.755.1

52.252.152.052.052.052.0

52.452.052.152.152.252.7

52.852.853.053.253.453.6

53.854.054.254.354.555.1

U.S.Govern-

mentsecuritiesmaturing

within1 year*

19.416.621.625.5

26.426.829.334.430.6

31.633.238.835.648.8

41.942.646.848.146.1

48.653.950.558.5

7 73.2

73.872.7

76.376.680.176.877.277.7

78.574.676.074.574.373.8

72.670.071.671.869.970.9

69.569.871.070.267.672.7

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 stock, Table B-52, 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 stock 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 B-52). Data are for last Wednesday of month, except that June 30 and December 31 calldata are used where available.

* Excludes holdings ot Government agencies and trust funds, domestic commercial and mutual savings banks, FederalReserve Banks, and beginning February I960, savings and loan associations.

J 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.

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


260


TABLE B-56.—Federal Reserve Bank credit and member bank reserves, 1929-71

[Averages of daily figures, millions of dollars]

Year and month

1929: Dec

1930: Dec1931: Dec1932: Dec1933: Dec1934: Dec1935: Dec1936: Dec1937: Dec1938: Dec1939: Dec

1940: Dec1941: D e c .1942: D e c . . .1943: Dec1944: Dec1945: Dec1946: D e c . . .1947: Dec1948: Dec1949: Dec

1950: Dec1951: D e c . .1952: Dec1953: Dec1954: Dec1955: Dec1956: Dec1957: Dec1958: Dec1959: Dec

1960: Dec1961: Dec1962: Dec .1963: Dec1964: Dec1965: D e c1966: Dec1967: Dec1968: Dec1969: Dec

1970: Dec1971: Dec* ._

1970: JanFebMarApr . . .MayJune ._ . .

July . . . .AugSept .Oct .Nov. . .Dec

1971: JanFebMarAprMay . . .June . - . . . .

JulyAugSeptOctNovDec*

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

29,06031,21733,21836,61039,87343,85346,86451,26856,61064,100

66,70874,246

62, 86861, 46861,38862,42463,08762, 843

63,91264,13464,61964, 70865,13266,708

67,36366,79766,69167,74768,92668,834

71,05270,74971,56872,34972, 69474,246

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 31227,03627,24829,09830,54633,72937,12640,88543,76048,89152,52957, 500

61,68869, 158

56 27355. 94955,78055,98257,26557,630

58,21959, 54459,90359, 53360,39361,688

62,06862,35062,71963,37164,71464,642

66,00166,32467,10667,69068,05269,158

Memberbank

borrow-ings

801

337763281951067

16

3354

90265334157224134118142657

1,59344124683968871055790687

149304327243454557238765

1,086321108

9651,092

896822976888

1,358827607462425321

370328319148330453

821804501360407108

Allother,mainlyfloat

39629241057

142325857474799

114180482658654702822729842607

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

1,7251,9702,3682,5542,5042,5142,5472,1393,3165,5144,6994,980

5,6304,4274,7125,6204,8464,325

4,3353,7634,1094,7134,3144,699

4,9254,1193,6534 2283 8823,739

4,2303,6213,9614,2994,2354,980

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

a 18,932

19,28320,11820,04020,74621,60922,71923,83025,26027,22128,03129, 2-531,316

28, 85827,97627,47328,09627,91027, 567

28.12828,34928,82528.70128, 55829,265

30,48829,88029,68629 88530 41930,023

30,54730,45530,80230,86030,95331, 316

Re-quired

2,347

2,3422,0101,909

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

7,4039,422

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

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

18, 52719,55019,46820,21021,19822,26723,43824,91526,76627,77428,99331,16C

28,69227,70327, 35827,97827,72927,380

27,98728.20428, 55328,44728,43828,993

30,20929,67929,48729,74530,10729,892

30,38530,25730,59630,65330, 69031,160

Excess

48

7360

526W66

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

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

900986797803

1,027826723693703594652577516482756568572536411452392345455257111156

166273115118181187

141145272254120272

279201199140312131

162198206207263156

Memberbank freereserves(excessreservesless bor-rowings)

-753

-264-703

245671

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

6,6433,3852,372

9581,0191,157

743762663685885169

-870252457

-245- 3 6

-133- 4 1

-424

669419268209168- 2

-165107

-310-829- 4 9

48

-799-819-781- 7 0 4-795-701

-1,217-682-335-208-305- 4 9

- 9 1-127-120

- 8-18

- 3 2 2

-658-606-295-153-144

48

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

261


TABLE B-57.—Bond yields and interest rates, 1929-71

(Percent per annum)

Year or month

1929

19301931193219331934

19351936193719381939

19401941. .194219431 9 4 4 . . .

19451946 .194719481949

19501951 .195219531954

19551956 .195719581959

19601961196219631964

19651966196719681969

1970. .1 9 7 1 . . .

1969* JanFebMarAprMayJune

JulyAugSeptOctNovDec l

U.S

3-monthTreas-

urybills »

1 402879

.515

.256

.137143447

.053023

.014

.103326

.373

.375

.375

.375594

1.0401.102

1.2181.5521.7661.931.953

1.7532.6583.2671.8393.405

2.9282.3782.7783.1573.549

3.9544.8814.3215.3396.677

6.4584.348

6 1776 1566.0806.1506.0776.493

7.0047.0077.1297 0407.1937.720

. Government securities

9-12monthissues2

0 75.79

81.8288

1 141.14

1.261.731 812.07.92

1.892.833.532.094.11

3.552.913.023.283.76

4.095.174.845.627.06

6.904.75

6 266 216.226.116.267.07

7.597.517.767 637.948.34

3-5year

issues3

2.662.12

1.291 111 40.8359

.50

.734634

1.33

1816Vfi?

1.43

1.5093

2.132.561.82

2.503.123.622.904.33

3.993.603.573.724.06

4.225.165.075.596.85

7.375.77

6 046.166.336.156.336.64

7.027.087.587 477.57

.98

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

6.585.74

5 745.866.055.845.856.05

6.076.026.326 276.526.81

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

8.047.39

6.596.666.856.896.796.98

7.086.977.147.337.357.72

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

9.118.56

7.327.307.517.547.527.70

7.847.868.058 228.258.65

High-grademunic-

ipalbonds

(Stand-ard &

Poor's)

4 27

4.074 014.654.714.03

3.403 073.102.912.76

2.502.102.362.061.86

1.671.642.012.402.21

1.982.002.192.722.37

2.532.933.603.563.95

3.733.463.183.233.22

3.273.823.984.515.81

6.515.70

4.955.105.345.295.475.83

5.846.076.356.216.376.91

Averagerate onshort-termbankloans

to busi-ness—

selectedcities

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

7 5.00

5.164.975.005.014.99

5.066.00

7 6.006.688.21

8.486.32

7.32

7.86

8.82

8.83

Primecom-mer-cial

paper,4-6

months

5.85

3.592.642.731.731.02

.7575

.94

.81

.59

.56

.53

.66

.69

.73

.75

.811.031.441.49

1.452.162.332.521.58

2.183.313.812.463.97

3.852.973.263.553.97

4.385.555.105.907.83

7.725.11

6.536.626.827.047.358.23

8.658.338.488.568.468.84

Fed-eral

ReserveBankdis-

countrate

5.17

3.042 122 822.561.54

1.501 501 331.001.00

1.001.00

6 1 006 1.008 1.00

8 1.00M.00

1 001.341.50

1.591.751.751.991.60

1.892.773.122.153.36

3.533.003.003.233.55

4.044.504.195.175.87

5.954.88

5 505.505.505.956.006.00

6.006.006.006 006.006.00

FHAnew

homemort-gage

yields*

4.34

4.174.214.294.614.62

4.644.795.4?5.495.71

6.185.805.615.475.45

5.466.296.557.138.19

9.057.78

7.50

7.998.058.068.06

8.358.368.368.408.488.48


262


TABLE B-57.— Bond yields and interest rates, 1929-71 —Continued

[Percent per annum]

Year or month



1971: JanFebMar.AprMayJune

JulyAugSentOctNovDec

U.S. Government securities

3-monthTreas-

urybills i

7.9147.1646.7106.4807.0356.742

6.4686.4126.2445.9275.2884.860

4.4943.7733.3233.7804.1394.699

5.4055.0784.6684.4894.1914.023

9-12monthissues2

8.227.606.886.967.697.50

7.006.926.686.345.524.94

4.293.803 664.214.935.57

5.895.675.314.744.504.33

3-5year

issues3

8.147.807.207.497.977.86

7.587.567.247.066.375.86

5.725.314.745.426.026.36

6.776.395.965.685.505.42

Taxablebonds4

6.866.446.396.536.946.99

6.576.756.636.596.245.97

5.925.845.715 755 965.94

5.915.785.565.465.485.62

Corporatebonds

(Moody's)

Aaa

7.917.937.847.838.118.48

8.448.138.098.038.057.64

7.367.087.217.257.537.64

7.647.597.447.397.267.25

Baa

8.868.788.638.708.989.25

9.409.449.399.339.389.12

8.748.398.468.458 628.75

8.768.768.598.488.388.38

High-grademunic-

ipalbonds

(Stand-ard &

Poor's)

6.806.576.146.557.027.06

6.696.336.456.556.205.71

5.705.555.445 656.146.22

6.315.955.525.245.305.36

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

8.86

8.49

8.50

8.07

"6.59

6.01

6.51

6.18

Primecom-mer-cial

paper,months

8.788.558.338.068.238.21

8.297.907.326.856.305.73

5.114.474.194 575.105.45

5.755.735.755.544.924.74

Fed-eral

ReserveBankHie

rate

6 006.006.006.006.006.00

6.006.006.006.005.855.52

5.234.914.754.754.754.75

4.885.005.005.004.834.65

FHAnew

homemort-gage

yields*

8.62

9.299.20

,9.109.11

9.169.119.079.018.978.90

8.40

7.327.377.75

7.897.977.927.847.757.62

1 Rate on new issues within period. First issued in December 1929 and issued irregularly in 1930. Bills were tax exemp tprior to March 1, 1941, and fully taxable thereafter, for 1934-37. series includes issues with maturities of more than3 months.

2 Certificates of indebtedness and selected note and bond issues (fully taxable).3 Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable thereafter.* 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.8 Data for first of the month, based on the maximum permissible interest rate (7 percent beginning February 18,1971).

Through July 1961, computed on 25-year mortgages paid in 12 years and thereafter, 30-year mortgages prepaid in 15 years.8 From October 30, 1942, to April 24, 1946. a preferential rate of 0.50 percent was in effect for advances secured by

Government securities maturing in 1 year or less.7 Series revised. Not strictly comparable with earlier data.

Note.—Yields and rates computed for New York City except for short-term bank loans.

Sources: Department of Housing and Urban Development, Treasury Department, Board of Governors of the FederalReserve System, Moody's Investors Service, and Standard & Poor's Corporation.

263


T A B L E B—58.—Short- and intermediate-term consumer credit outstanding, 1929—71[Millions of dollars]

End of year or month Total

Instalment credit

TotalAuto-mobilepaper

Othercon-

sumergoodspaper

Homerepair

andmodern-

izationloans 1

Per-sonalloans

Noninstalment credit

TotalCharge

ac-counts

Other 2

Adden-dum:Policy

loans bylife in-surance

com-panies •

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. .

1970..1971 <_

1970: Jan. . .Feb...M a r -Apr...May...June..

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

1971: Jan...Feb..Mar..Apr. .May..June.

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

7,1166,3515,3154,0263,8854,2185,1906,3756,9486,3707,2228,3389,1725,9834,9015,1115,6658,384

11,59814,44717,36421,47122,71227,52031,39332,46438,83042,33444,97145,12951, 544

56,14157,98263,82171,73980,26890,31497,543102,132113,191122,469

126, 802135, 800

121,074120, 077119,698l?0, 402121,346122, 542123,092123,655123,907123,866123,915126,802

125,077123,815123,604125,047126,025127,388

128,354129,704130,644131,606133,263136, 80D

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, 56828,90631,72033,86833,64239,24742,96843,89148,72055,48662,69271,32477,53980,92689,89098,169

101,161109, 200

97, 40296, 89296, 66297,10497, 70698, 69999, 30299, 860100,14299,95999.790101,161

100,10199,24499,168100,028100,692101,862

102,848104,060104,973105, 763107, 097109,200

1,384

986684356493614992

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

742355397455981

1,9243,0184,5556,0745,9727,7339,8359,80913,46014,42015,34014,15216,420

17,65817,13519,38122,25424,93428,61930,55630,72434,13036,602

35,49038,400

36,29136,11936,08836, 26436,45536, 80936,91836,90836, 73836, 51836,01135,490

35,00434,86935,02835,49635,81936, 34936,76337,15437,38337, 75938,16438, 400

1,5441,4321,214

834799889

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

819791816

1,2902,1432,9013,7064,7994,8806,1746,7796,7517,6418,6068,8449,02810,631

11,54511,86212,62714,17716,33318,56520,97822,39524,89927,609

29,94932, 000

27, 34626, 98726, 81426, 85027,05527, 30327, 53827, 80128,05528,15228, 37829,949

29,57528,92828,59128,68228,70628,976

29,16529,47729,84030,07230. 58632. 000

272522181537

253364219218298

371376255130119182405718853898

1,0161,0851,3851,6101,6161,6931,9052,1012,3462,809

3,1483,2213,2983,4373,5773,7283,8183,7893,9254,0404,1104,400

3,9913,9703,9513.9604.0034,0404,0814,1044,1234,1264,1334,110

4,0674,0514,0454,0774,1264,1864,2404,2954,3304,3574,3704,400

569579543464416459572721900927

1,088

1,2451,322974832869

1,0091,4961,9102,2242,4312,8143,3574,1114,7815,3926,1126,7897,5828,1169,386

1061711,67313,41415,61817,84820,41222,18724,01826,93629,91831,61234, 400

29,77429,81629, 80930,03030,19330,54730,76531,04731, 22631,16331, 26831,612

31,45531,39631,50431,77332,04132,351

32,68033,13433,42033,57533,97734,400.

3,5923,3292,8522,3542,1622,2192,3732,6282,8302,6842,7192,8243,0872,8172,7652,9353,2034,2124,9035,4515,7746,7687,4188,1178,3888,8969,92410,61411,10311,48712,297

13,17314,09115,10116,25317,57618,99020,00421,20623, 30124,300

25,64127, 600

23, 67223,18523,03623, 29823, 64023, 843

23, 79023, 79523,76523,90724,12525,641

24,97624,57124,43625,01925,33325,526

25,50625,64425,67125,84326,16627, f 00

1,9961,8331,6351,3741,2861,3061,3541,4281,5041,4031,4141,4711,6451,4441,4401,5171,6122,0762,3812,7222,8543,3673,7004,1304,2744,4854,7954,9955,1465,0605,104

5,3295,3245,6845,9036,1956,4306,6866,9687,7558,2348,8509,800

7,5396,7896,6456,9007,2737,4737,5097,5087,4897,6567,7578,850

8,0947,3537,2077,6898,0048,2148,2718,3058,3058,43?8,6349,800

1,5961,4961,217980876913

1,0191,2001,3261,2811,305

1,3531,4421,3731,3251,4181,5912,1362,5222,7292,9203,4013,7183,9874,1144,4115,1295,6195,9576,4277,193

7,8448,7679,417

10,35011,38112,56013,31814,23815,54616, 06616, 79117, 80016,13316, 39616, 39116, 39816, 36716, 370

16,28116, 28716, 27616, 25116, 36816,791

16,88217,21817,22917,33017,32917,312

17,23517,33917,36617,40817, 53217, 800

2,3792,8073,3693,8063,7693,6583,5403,4113,3993,3893,2483,0912,9192,6832,3732,1341,9621,8941,9372,0572,2402,4132,5902,7132,9143,1273,2903,5193,8694,1884,6185,2315,7336,2346,6557,1407,6789,117

10,05911,30613, 82516, 064

14, 06714,30214,54414,77114,96715,191

15,37515,54115, 70315,81315,95016, 025

16,10916,22016,29316,37016,43316,51616,59016,67916,78216, 85016,948

foldings of financial institutions only; holdings of retail outlets are included in "other consumer goods paper."'Single-payment loans and service credit.1 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; by Council of Economic Advisers.

Sources: Board of Governors of the Federal Reserve System and Institute of Life Insurance (except as noted).

264


TABLE B-59.—Instalment credit extended and repaid, 1946-71


Year or month

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

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

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

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

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

1970..1971 i.

1970: Jan..Feb..Mar-Apr..May-June.

July..

Oct...Nov...Dec.

1971: Jan.. .Feb..Mar-May"June.

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

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

78,58682,33584,69397,053

102, 888

104,130118,000

Re-

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, 08994,609

101,138109,950

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

27,22727,34126,66731,42432,354

29,83134,900

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, 882

30,94332,000

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, 59333, 079

36,78140,900

Re-

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, 08930,369

34,44138,850

Home repair andmodernization

loans

Ex-tended

423704714734

835841

1,2171,3441,261

1,3931,5821,6741,8712,222

2,2152,0922,0842,1862,225

2,2662,2002,1132,2682,278

2,1452,600

Re-paid

200391579689

717772917

1,1191,255

1,3161,3701,4771,6261,765

1,8762,0152,0102,0462,086

2,1162,1102,1422,1322,163

2,0752,300

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

26,34327,20328,96132,76835,177

35,37339, 600

Seasonally adjusted

8,5218,6258,3928,4919,0048,683

9,0658,8098,8498,5808,4148,536

8,9169,0819,5339,7519,6909,715

9,67510, 04910,15610,03110,57210,700

8,1418,2078,1948,1958,5898,242

8,6228,5778,4908,6628,7168,515

8,8298,9799,0389,0889,1979,190

8,9149,2229,1579,1079,3069,900

2,4792,5362,4962,5712,5952,587

2,6852,5372,6212,3492,1272,170

2,4612,6872,8972,8722,7562,838

2,7733,0043,1472,9923,1623,150

2,4692,5502,5012,5272,6002,573

2,7522,6322,5992,5502,5772,618

2,6232,6362,6962,5662,6402,678

2,5652,6972,7322,6342,6622,850

2,9253,0182,9222,8433,1832,925

3,1243,1683,0713,1133,1133,281

3,2523,2043,2103,4153,2953,433

3,3993,4653,4623,4673,5953,900

2,7222,7612,7922,7292,8882,750

2,8742,9672,9133,0363,0822,945

3,1453,2123,1643,2493,2113,233

3,2033,2623,1723,2193,2543,550

160179165183180189

192173186182180177

177197209205200224

218222227229214250

168171169173174174

170175174179176175

175188196184188192

188196199197199200

2,9572,8922,8092,8943,0462,982

3,0642,9312,9712,9362,9942,908

3,0262,9933,2173,2593,4393,220

3,2853,3583,3203,3433,6013,400

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, 85032,195

33,67936,800

2,7822,7252,7322,7662,9272,745

2,8262,8032,8042,8972,8812,777

2,8862,9432,9823,0893,1583,087

2,9583,0673,0543,0573,1913,300

i Preliminary; December by Council of Economic Advisers.

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

265


TABLE B-60.—Mortgage debt outstanding, by type of property and of financing, 1939-71


End of yearor quarter

1939

1940...19411942 .19431944

194519461947...19481949

19501951195219531954

195519561 9 5 7 . . . . . . . .19581959

19601961196219631964

19651966196719681969 v

1970 v1971 v

1969 : 1 *....II » . . .Ill »__IV "_.

1970: IP____II r___III p . .IV P . . .

1971: I P . . . .U 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

325.8347.4370.2397.5425.3

451.7499.5

403.7411.7418.7425.3

429.4435.6443.4451.7

459.0471.1485.6499.5

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

21.223.325.527.529.5

31.232.8

28.128.829.229.5

29.830.330.831.2

31.831.932.432.8

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.7

194.0212.3233.4257.4281.2

304.6324.1344.8370.0395.9

420.5466.7

375.7382.9389.5395.9

399.6405.2412.5420.5

427.2439.3453.2466.7

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

280.2307.5

254.8259.5263.5266.8

268.5271.7276.0280.2

283.6290.9299.5307.5

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

37.240.343.947.352.2

58.067.4

48.349.450.652.2

53.254.556.158.0

59.762.164.667.4

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

54.560.164.871.476.9

82.391.8

72.674.075.476.9

77.879.080.482.3

83.986.289.191.8

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

42.947.851.655.159.3

62.365.669.473.477.2

81.284.188.293.4

100.2

109.2

94.596.698.5

100.2

101.9103.2106.8109.2

111.0112.4

1- to 4-family houses

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

73.176.179.9?4.490.2

97.3

85.387.188.890.2

91.692.295.197.3

98.298.4

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

42.044.847.450.654.5

59.9

51.452.253.454.5

55.656.158.159.9

61.062.8

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

31.131.332.533.835.7

37.3

33.934.935.535.7

36.036.037.037.3

37.335.6

Conventional *

Total

27.1

27.728.227.125.825.5

26.530.634.137.339.0

44.649.054.961.569.2

78.086.894.6

105.5119.4

131.7146.7164.1184.0204.0

223.4240.0256.6275.6295.7

311.3

281.2286.2291.0295.7

297.6302.0305.7311.3

316.2326.9

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

84.893.8

104.3116.3128.3

139.8147.6156.1166.8176.6

182.9

169.6172.3174.6176.6

176.9179.6180.0182.9

185.3192.5

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.

266


TABLE B-61.—Mortgage debt outstanding, by lender, 1939-71


End of year or quarter

1939

1940194119421943 .1944

194519461947 . .19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969 v

1970 P1971 p

1969' 1 »II I'-l l ! pIV p

1970: 1 pII p .III pIV P

1971: 1 pII pIII pIV 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 2397.5425 3

451.7499.5

403 7411 7418 7425.3

429.4435.6443 4451.7

459.0471.1485.6499.5

Selected financial institutions

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

355.9394.0

324 7331 0335 7339.1

340.7344.5349 7355.9

361.8372.0383.5394.0

Savingsandloan

associa-tions

3.8

4.14 64.64.64.8

5.47 l8.9

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

150.3174.5

133 0136 3138 6140.2

140.8143.1146 4150.3

154.2161.2168.2174.5

Mutualsavingsbanks

4.8

4.94 84.64.44.3

4.24.44.95.86.7

8 39.9

11.412.915.0

17.519.721.223.325.0

26.929.132 336.240.6

44.647.350.553.556.1

57.962.0

54.254.855.456.1

56.456.957.457.9

58.759.660.762.0

Com-mercialbanks»

4.3

4.64.94.74.54.4

4.87.29.4

10.911.6

13.714.715.916.818.6

21.022.723.325.528.1

28.830.434 539.444.0

49.754.459.065.770.7

73.382.1

67.169.170.470.7

70.971.372.473.3

74.476.679.782.1

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

60.064.667.570.072.0

74.475.3

70.470.971 472.0

72.773.273 674.4

74.574.574.875.3

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

33.039.4

22.623.424 926.8

28.630.031 733.0

33.635.237.439.4

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

48.750 953.055.859 4

62.866.1

56.457.258 059.4

60.161.161 962.8

63.663.964.766.1

i Includes loans held by nondeposit trust companies, but not bank trust departments.* 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."

Source: Board of Governors of the Federal Reserve System, based on data from various Government and private or-ganizations.

267


TABLE B-62.—Net public and private debt, 1929-70*


End of year

1929

1930193119321933 . . . .1934

1935 . .1936193719381939 . .

19401941194219431944

19451946194719481949 . . . .

19501951195219531954

19551956195719581959

19601961196219631964

1965 . . .1966196719681969

1970

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

665 8698.4728 3769.6833.0

874 2930.3996.0

1,070.91,151.6

1,244.11,341.41, 442.71, 584. 51,722.7

1,840.2

Public

Fed-eralGov-ern-

ment 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

266.4271.8286.5291.9289.3

301.1

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

21.430.5

38.8

Stateandlocalgov-ern-

ments

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

41.144.548 653.759.6

64 970.577.083.990.4

98.3104.8112.9122.8131.4

143.3

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 4953. 5

1,034. 31,148. 41,271.6

1,356.9

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 3506.6553.7628.1715.5

774.1

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 1446.9480.6520.3556.0

582.8

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

39.342.448.351.855.5

58.7

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

376.8404.5432.3468.5500.6

524.1

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

236.8251.6266.9284.9304.8

321.3

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

49.755.463.370.473.3

76.0

Con-sumer

7 i

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

102.1113.2122.5

126.8

* 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, 1973."

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 beginning with 1947, the debt of the Federal Home Loan Banksis included beginning with 1951, and the debts of the Federal National Mortgage Association, Federal Intermediate CreditBanks, 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 (Bureau of Economic Analysis), 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.

268


GOVERNMENT FINANCETABLE B-63.—Federal budget receipts and outlays, 1929-73


Fiscal year

Administrative budget:1929

19301931193219331934

1935 . . .193619371938 .1939

Consolidated cash statement:

19401941194219431944

19451946194719481949

1950 .195119521953

Unified budget:1954

195519561957 . . .19581959

19601961196219631964

196519661967 . .1968 .1969

197019711972119731 .

Receipts

3,862

4,0583,1161,9241,9973,015

3,7063,9974,9565,5884,979

6,8799,202

15,10425, 09747,818

50,16243,53743, 53145,35741,576

40,94053,39068,01171,495

69,719

65,46974,54779,99079,63679,249

92,49294,38999,676

106,560112,662

116,833130,856149, 552153,671187,784

193,743188,392197 827220,785

Outlays

3,127

3,3203,5774,6594,5986,645

6,4978,4227,7336,7658,841

9,58913,98034,50078,90993,956

95,18461,73836,93136,49340,570

43,14745,79767,96276,769

70,890

68, 50970,46076,74182, 57592,104

92,22397, 795

106,813111,311118, 584

118,430134,652158,254178,833184,548

196, 588211,425236,610246,257

Surplus ordeficit ( - )

734

738-462

- 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

-45,022-18,201

6,6008,8641,006

-2 ,2077,593

49-5 ,274

-1,17G

-3,0414,0873,249

-2 ,939-12,855

269-3 ,406-7,137-4 ,751-5 ,922

-1 ,596-3 ,796-8 ,702

-25,1613,236

- 2 , 845-23,033-38,783-25,472

i Estimate.Note.—Certain interfund transactions are excluded from receipts and outlays starting in 1932. For years prior to 1932 the

amounts of such transactions are not significant.Refunds of receipts are excluded from receipts and outlays starting in 1913.

Sources: Treasury Department and Office of Management and Budget.

269451-688 0—72 18


T A B L E B-64.—Federal budget receipts, outlays, financing, and debt, 1962-73

[Millions of dollars; fiscal years]

Description

Actual

1962 1963 1964 1965 1966 1967

RECEIPTS, EXPENDITURES, AND NET LEND-ING:

Expenditure account:Recei ptsExpenditures (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

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

- 3 4 7

10,9119,662

1,249

116,833118,430

-1,596

4,061-2,465

1.596

323,154261,614

130,856130,820

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

BUDGET RECEIPTS.

Individual income taxesCorporation income taxesEmployment taxes and contributionsUnemployment insuranceContributions for other insurance and

retirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts l

MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.

BUDGET OUTLAYS (EXPENDITURES ANDNET LENDING).. . .

National defense.International affairs and financeSpace research and technologyAgriculture and rural developmentNatural resources and environmentCommerce and transportationCommunity development and housingEducation and manpowerHealthIncome securityVeterans benefits and servicesInterestGeneral governmentGeneral revenue sharingAllowancesUndistributed intragovernmental trans-

actions

99,676

45,57120,52312,8353,337

87512,5342,0161,142843

79,70322,652-2,680

106,813

51,0974,4921,2574,1221,6755,430

5891,4061,130

22, 5305,6258,3211,650

106,560

47,58821,57914,7454,112

94513,1942,1671,2051,023

83,55025,799-2,788

111,311

52,2574,1152,5525,1381,4985,765-8801,5021,379

24,0815.5209,2151,810

112,662

48,69723,49316,9594,045

1,00813,7312,3941,2521,084

87,20528, 518-3,061

118,584

53, 5914,1174,1705,1841,9666,511-1851,7511,716

25,1105,6819,8102,040

116,833

48,79225,46117,3593,819

1,08114, 5702,7161,4421,594

90,94329, 230-3,339

118,430

49,5784,3405,0914,8052,0567,399

2882,2841,704

25,7025,72210,3572,210

130,856

55,44630,07320,6623,777

1,12913, 0623,0661,7671,875

101,42732,997-3, 568

134,652

56,7854,4905,9333,6762,0367,1712,6444,2582,509

29,0165,920

11,2852,292


-2,513

86.59422.893

-2,680

-2,644

90,14123.953

-2,788

-2,877

95,76125, 884

-3,061

-3,109

94. 80726,962

-3,339

-3,364

106,51231,708

-3,568

149, 552

61, 52633,97127,8233,659

1,86713,7192,9781,9012,108

111,83542,935

-5,218

158,254

70,0814,5475,4234,3731,8787,5942,6165,8536,66731,1646,89712, 5882,510

-3,936

126,77936,693-5,218


270


TABLE B-64.—Federal budget receipts, outlays, financing, and debt, 1962-73—Continued[Millions of dollars; fiscal years]

Description

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(expendituresand net lending)

Budget surplus or deficit (—)

BUDGET FINANCING:Net borrowing trom 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

Actual

1968

153,671172,802

-19,131

20, 32714,297

6,030

153,671178,833

-25,161

23,1002,061

25,161

369, 769290,629

1969

187,784183, 072

4,712

13,11711,640

1,476

187,784184, 548

3,236

-1,044-2,192

2-3,236

367,144279, 483

1970

193, 743194,456

-714

8,3136,182

2,131

193, 743196, 588

- 2 , 845

3,814-969

2 2,845

382.603284, 880

1971

188,392210,308

-21,916

8,1317,014

1,117

188,392211,425

-23, 033

19, 4483,585

23, 033

409,467304,328

Estimate

1972

197, 827235, 597

-37,770

8,2587,246

1,013

197, 827236,610

-38, 783

39,500-717

38, 783

455,784343,828

1973

220, 785246,463

-25,678

8,3548,560

-206

220, 785246, 257

-25, 472

27,500-2,028

25, 472

493,165371,328

BUDGET RECEIPTS.

Individual income taxesCorporation income taxesEmployment taxes and contributionsUnemployment insuranceContributions for other insurance and re-

tirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts i


BUDGET OUTLAYS (EXPENDITURES AND NETLENDING)

National defenseInternational affairs and financeSpace research and technologyAgriculture and rural developmentNatural resources and environmentCommerce and transportationCommunity development and housingEducation and manpowerHealthI ncome secu rityVeterans benefits and servicesInte restGeneral governmentGeneral revenue sharingAllowancesUndistributed intragovernmental trans-

actions


153,671

68,72628 66529,224

3,346

2,05214,0793,0512,0382,491

114,72644,716-5,771

178, 833

80, 5174,6194,7215,9401,7228,0944,0766,7399,60834,1086,88213,7442,561

187,784

87,24936,67834,2363,328

2,35315,2223,4912,3192,908

143,32152, 009- 7 , 547

184,548

81,2323,7854,2476.2182,1697,9211,9616,52511,61137,6997,64015,7912,866

193, 743

90,41232, 82939, 1333,464

2,70115.7053.6442,4303,424

143,15859, 362-8,778

196,588

80, 2953,5703,7496,2012,5689,3102,9657,28912,90743, 7908,67718,3123,335

188, 392

86, 23026,78541,6993,674

3,20516,6143,7352,5913,858

133,78566,193

-11,585

211,425

77,6613,0953,3815,0962,71611,3103,3578,65414,46355,7129,77619,6093,970

-4,499

143,10541,499-5,771

-5,117

148,81143,284- 7 , 547

-6,380

156,30149, 065

- 8 , 778

-7,376

163,65159, 361

-11,586

197, 827

86, 50030,10046, 3674,364

3,36115, 2005,2003,2103,525

137,78873,163

-13,124

236, 610

78, 0303,9603,1807,3454,376

11, 8724,039

10,14017,02465, 22511,12720, 067

5,3022,250

550

- 7 , 877

182, 51967, 215

-13,124

220, 785

93,90035, 70055,113

5,016

3,55416, 3004,3002,8504,052

150,61783,214

-13 ,046

246, 257

78, 3103,8443,1916,8912,450

11, 5504,844

11,28118,11769,65811,74521,161

5,5315, 0001,275

- 8 , 590

186, 78472,519

-13 ,046

1 Includes both Federal funds and trust funds.' Excludes changes due to ^classification and to conversion of mixed-ownership enterprises to private ownershjp. (See

footnotes to Table 9, "Budget of the United States Government for the Fiscal Year Ending June 30, 1971," and footnotesto Table 10. "Budget of the United States Government for the Fiscal Year Ending June 30,1972.")

Sources: Treasury Department and Office of Management and Budget.

271


T A B L E B~65.—Relation of the Federal budget to the Federal sector of the national income andproduct accounts, 1970-73

[Billions of dollars; fiscal years]

Receipts and expenditures

RECEIPTS

Total receipts, budget.

Government contribution for employee retire-ment (grossing)

Other netting and grossingAdjustment to accrualsOther

Federal sector, national income and product accounts,receipts

EXPENDITURES

Total outlays, budget.

Loan accountFinancial transactions in the expenditure account.Government contribution for employee retirement

(grossing)Other netting and grossingDefense timing adjustmentOther

Federal sector, national income and product accounts,expenditures

Actual

1970

193.7

2.71.4

- 3 . 1

194.6

196.6

- 2 . 1- 1 . 8

2.71.4.7

- . 3

197.2

1971

188.4

3.11.51.1

- . 1

194.0

211.4

- 1 . 1- 2 . 1

3.11.5

- . 7.4

212.4

Estimate

1972

197.8

3.21.5.4

- . 1

202.8

236.6

- 1 . 0- 1 . 9

3.21.5

- . 7.0

237.8

1973

220.8

3.51.72.5

- . 5

227.9

246.3

.2- 1 . 5

3.51.73.02.7

255.9

Note.—See Special Analysis A, "Budget of the United States Government for the Fiscal Year Ending June 30, 1973," fordescription of these categories.

Sources: Treasury Department, Office of Management and Budget, and Department of Commerce (Bureau of EconomicAnalysis).

272


T A B L E B-66.—Receipts and expenditures of the Federal Government sector of the national incomeand product accounts, 1948—73


Year or quarter

Receipts

Total

43.640.042 060.865.169.365.867.275.880.777.985.494.895.3

104.2110.2115.5120.5132.8147.2160.6190.3194.6194.0202.8227.9

43.338.949.964.067.?70.063.872.177.681.678.789.796.598.3

106.4114.5115.0124.7142.5151.2175.0196.9191.5198.7

Per-sonaltaxandnon-tavla A

re*ceipts

20.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.357.664.571.490.093.887.791.398.3

19.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.861.767.579.794.992.289.0

Cor-po-rate

profitstaxac-

cruals

11.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.525.727.731.031.233.737.332.832.533.040.7

11.89.8

17.021.518.519.517.020.620.620.218.022.521.721.822.724.626.429.332.130.736.736.330.633.5

Indi-rect

busi-nesstaxandnon-taxac-cru-als

7.98.08.29.59.7

10.710.410.010.811.711.611.913.213.314.215.015.616.915.715.817.118.619.220.319.820.7

8.08.08.99.4

10.310.99.7

10.711.211.811.512.513.513.614.615.316.116.515.716.318.019.019.320.2

Con-tribu-tionsfor

socialinsur-ance

4.64.85.56.6

\ \7.88.7

10.211.712.213.816.718.119.922.123.524.628.535.738.344 348.853.558.768.2

4.54.95.97.17.47.48.19.3

10.612.212.414.817.718.220.523.123.825.133.036.740.746.849.356.0

Expenditures

Total i

30.939.642.444.666.075.874.267.369.876.083.190.991.398.0

106.4111.4116.9118.5131.9154.5172.5185.9197.2212.4237.8255.9

34.941.340.857.871.077.069.768.171.979.688.991.093.0

102.1110.3113.9118.1123.5142.8163.6181.5189.5205.1222.0

Pur-chases

ofgoodsandserv-ices

13.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.764.471.785.394.999.399.295.3

103.0107.0

16.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.798.899.297.297.6

Transferpayments

Toper-sons

8.78.1

11.38.18.59.3

10.512.112.814.417.819.820.623.625.126.427.328.331.837.242.748.554.967.577.084.5

7.68.7

10.88.58.89.5

11.512.413.415.719.520.121.524.925.527.027.830.333.440.046.150.461.273.4

Tofor-eign-ers

(net)

2.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12.22.22.32.22.12.22.02.42.82.9

3.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.22.32.22.12.12.22.5

Grants-in-aid

to Stateandlocal

govern-ments

1.82.12.42.42.52.82.93.03.23.74.76.26.86.97.68.49.8

10.912.714.817.819.422.627.036.240.6

2.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1

10.411.114.415.818.720.324.429.7

Netin-

ter-estpaid

4.24.34.44.64.84.85.04.95.15.55.75.97.06.86.87.58.18.59.09.9

10.912.314.014.213.414.8

4.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.78.38.79.5

10.211.713.114.613.7

Subsi-dieslesscur-rentsur-plusof

gov-mententer-prises

0.5.8

1.01.3L.I.9

L.OL.3L.72.82.52.42.33.23.83.63.84.14.55.14.14.14.65.95.46.0

.7

.81.21.31.0.8

1.11.52.42.62.72.12.53.84.03.64.24.35.44.64.14.65.55.0

Sur-plusor

defi-cit

na-tion-

alin-

comeand

prod-uctac-

counts

12.7.4

- . 516.2

- 1 . 0- 6 . 5- 8 . 5- . 16.04.7

- 5 . 1- 5 . 5

3.5- 2 . 7- 2 . 1- 1 . 2- 1 . 4

2.0.9

- 7 . 3-11.9

4.4- 2 . 7

-18.4-35.0-28.0

8.4- 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

.7- 3 . 0

1.2- . 2

-12.4- 6 . 5

7.3-13.6-23.3

Fiscal year:1948194919501951 _19521953195419551956195719581959196019611962196319641965196619671968196919701971 P1972 21973 2

Calendar year:1948194919501951_19521953195419551956 _195719581959196019611962196319641965196619671968196919701971 *>

1970: I . . .I I . .III.IV.

1971: I . . .

IV*

191.6193.8191.3189.3196.5197.7197.8


93.894.589.791.086.687.688.893.0

30.630.931.929.034.134.833.2

19.019.119.719.420.719.919.720.7

48.249.250.049.8

55.155.556.157.2

196.1207 9206.7209.8212.7221.4224.6229.4

100.296.896.195.996.496.097.6

100.6

54.063.362.465.067.475.375.375.6

2.12.02.32.42.22.52.72.6

23.023.924.925.927.029.530.232.0

14.314.315.014.814.013.313.913.8

5.05.55.85.7

5.84.84.84.7

- 4 . 5-14.1-15.4-20.5-16.2-23.7-26.7

1 Wage accruals less disbursements have been subtracted from total. These were (in billions of dollars, at seasonallyadjusted annual rates) 2.5, - 2 . 1 , -0 .4 , and .0 in the 4 quarters of 1970, respectively, and .0 in each of the 4 quarters

2 Estimates.

Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.

273


TABLE B-67.—Public debt securities by kind of obligation, 1946-71



1946— -.194719481949

19501951.. .1952195319541955 . . .1956195719581959

1960196119621963196419651966 . . . -19671968 . . -1969

19701971

1970- JanFebMarAprMayJune

JulyAugSept . .OctNovDec

1971- JanFeb .MarAprMayJune

JulyAugSeptOctNovDec -

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

389.2424.1

367.6368.8372.0367.2371.1370.9

376.6380.9378.7380.2383.6389.2

388.3390.7391 7391.9396 8398.1

405.3414.6412.3411.9414 6424.1

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

123.4119.1

118.6117.8121.3117.1109.4105.5

110.8109.8108.7111.6120.1123.4

123.4115.5114 9113.5114.0112.8

115.0116.7117.7118.0108.9119.1

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

104.9123.0

93.396.495.295.2

105.5105.5

105.5109.2109.2109.1104.9104.9

104.9113.2113.2113.2112.5113.6

113.6114.0113.3115.3125.5123.0

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

19.419.9

24.421.721.721.721.621.6

21.521.521.521.419.519.4

19.419.419.319.219.219.1

19.119.019.018.920.019.9

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

78.185.7

70.171.472.171.873.376.3

76.177.576.775.475.678.1

77.778.980.079.781.782.8

84.787.086.084.384.485.7

U.S.sav-ings

bonds 3

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

52.554.9

52.152.152.052.052.052.0

52.052.152.152.252.452.5

52.652.853.053.253.453.6

53.854.054.254.454.654.9

For-eignand

inter-na-

tional

0.5.7

1.31.82.41.53.24.44.7

6.517.4

4.64.95.24.94.85.6

6.26.36.26.06.76.5

6.16.56.98.9

11.712.0

15.019.717.916.816.917.4

Other

6 77 46 39.3

10 120.919.619 317 712.711.910 49.27.8

6 35 34.63.83 52.92.72 62.62.5

2.42.4

2.52.52.52.52.52.5

2.52.52.52.52.52.4

2.42.42 42.42.42.4

2.42.42.42.42."42.4

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 52 92.0

1.91.8

2.02.02.02.11.91.9

1.92.01.91.92.01.9

1.92.01.91.91.91.8

1.81.81.81.81.91.8

i Issued to U.S. Government accounts. These accounts also held $0.1 billion of public marketable and nonmarket-able issues on December 31,1971.

* Includes sales of U.S. savings notes from May 1967 through June 30, 1970.

Source: Treasury Department.

274


TABLE B-68.—Estimated ownership of public debt securities, 1939-71[Par values,i billions of dollars]

End of year ormonth

1939

1940194119421943194419451946 .194719481949 .

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

19701971

1970: JanFebMarAprMayJuneJuly .AugSept . . .OctNovDec

1971: Jan. .FebMarAprMayJuneJuly...AugSeptOctNovDec

Total public debt securities *

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

389.2424.1

367.6368.8372.0367.2371.1370.9

376.6380.9378.7380.2383.6389.2

388.3390.7391.7391.9396.8398.1

405.3414.6412.3411.9414.6424.1

Held

Govern-mentac-

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

97.1106.0

88.689.490.490.292.395.2

94.896.495.594.494.697.1

96.798.098.899.1

101.8102.9

104.9107.3106.5104.7104.7106.0

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

62.170.2

55.555.855.856.557.357.7

58.659.960.060.061.262.1

61.862.564.263.764.865.5

65.866.967.667.267.870.2

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

229.9247.9223.5223.6225.9220.5221.4218.0223.2224.6223.2225.8227.9229.9

229.9230.2228.7229.1230.2229.7

234.6240.4238.2240.0242.1247.9

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

62.167.267.164.263.960.757.463.866.056.8

62.765.054.653.055.554.553.952.654.357.356.358.459.362.7

61.761.361.860.559.461.0

60.559.560.060.961.565.0

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

18.117.417.416.816.515.614.112.711.610.0

9.89.3

10.210.09.99.99.89.7

9.910.19.99.79.69.8

10.010.19.69.69.79.4

9.69.59.39.39.29.3

Othercorpo-

rations4

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

18.718.518.618.718.215.814.912.214.213.3

10.513.213.913.212.711.912.511.112.112.010.411.210.910.5

11.110. 210.79.99.6

10.1

11.610.910.011.112.013.2

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

18 719.020 121 121.222.924 324.124.425.4

23.120.5

26 126.225 524.725.224.624.324.524.224.423.423.1

23.224.022.821.821.821.4

21.921.121.020.820.620.5

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

66.165.966.068.269.872.174.674.075.880.9

81.977.582.182.883.282.783.082.5

82.982.382.782.382.481.9

81.380.679.479.078.078.0

78.278.177.977.777.677.5

Miscel-laneousinves-tors7

0.5

.81.33.56.09.3

11.811.411.912.512.9

13.613.714.716.116.918.318.919.118.924.3

26.526.930.231.633.033.433.935.736.635.5

42.062.436.638.439.136.837.037.639.738.439.739.842.242.042.544.044.348.351.949.852.661.360.160.361.262.4

i U.S. savings bonds, series A-F and J, and U.S. savings notes are included at current redemption value.1 Not all of total shown is subject to statutory debt limitation.* 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 B-53, which are based on book values and relate only to banks within the United States.

* Exclusive of banks and insurance companies.• 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 International 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.


275Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE B-69.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-71


Fiscal year:1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971

1970: Jan .FebMarApr _ .May.June --

Ju ly . . . . . . .AugSept. . . . . .OctN o v . . . .Dec

1971: Jan. .FebMarAprMay.-June


Amountout-

standing

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

232,599245, 473

236,321235,968238, 195233, 998236,561232,599

237,821240,511239,330242,180244,447247,713

247, 667248,092247, 457245, 888245, 635245, 473

247, 649249, 654249, 931252, 240254,456262, 038

Within1 year

61,97451,21148,74248,130

42,33843,90346,36765,27062,734

49,70358,71471,95267,78272,958

70,46781,12088, 44285, 29481,424

87,63789,13689,648

106,407103,910

105, 530112,772

118,633117,796121,272117,148109,432105,530

110,813109, 830108,671111,636120,125123,423

123,418115,534114,940113,466113,959112,772

115,014116,664117,662118,007108,911119, 141

r

1 to 5years

Maturity class

5 to 10years

10 to 20years

Millions of dollars

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

89,61589,074

73,29477,10475, 88975, 85589,63189,615

89,61491,07591,06690, 99282,30282,318

82,31686,01186,02585,99088,00489, 074

89, 07792, 86590,91592,94096, 20493, 648

41,80735, 56232,26416,746

7,7928.707

13,93315,65127,515

34,25328,90812,32821,47617,052

20,24626,43526, 04937,38534,929

39,16933, 59624,37830,75434, 837

15,88224,503

20, 02619,32919,32919,32915,87915, 882

15,87618, 12218, 14018,13822,55522,553

22, 55327, 19727,19927,199

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

10, 5248,455

8,35410, 55710,55110, 54210, 53410,524

10,51410, 50710,50110,4938,5668,556

8,5428,5298,5138.491

24,502 8,47224,503 8.455

24, 50321,11522, 39722, 39729, 32129, 321

8,4358,4208,4048,3859,5669,530

20 yearsand over

43, 59941,48141,48134, 888

25.8538,7976,5941,5921,606

3,5304,3514,3497,2088,088

7,65310,95015,22114,44416,323

17,24117,02316,79716,55316,217

11,04810,670

16,01411,18211,15511,12411,08511,048

11,00410,97810,95110,92210,90010,863

10,83910,82110,78010, 74210, 69910, 670

10, 62210, 59010, 55310,51110,45410, 397

Average

Years

9998

86555

55454

44455

54444

33

333333

333333

33

333

333333

length

Months

1529

27846

104937

46

1110

411720

86

776688

6

6

64

476666

45

364

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).


276


T A B L E B-70.—Receipts and expenditures of the government sector of the national income and productaccounts, 1929-71


Calendar year or quarter

1929193019311932193319341935 . . .19361937193819391940 . . .1941194219431944194519461947194819491950195119521953195419551956 . . .1957195819591960196119621963 . . . .1964196519661967196819691970 -1971 v

1970: 1 . .IIIIIIV . . .

1971: 1 . .IIIIIIV v

Total government

Re-ceipts

11.310.89.58.99.3

10.511.412.915.415.015.417.725.032.649.251.253.250.956.858.956.068.784.889.894.389.7

100 4109.0115.6114.7128.9139.8144.6157.0168.8174.1189.1213.3228.9263.5295.6300.5320.8

Ex-pendi-tures

10.311.112 410.610.712 913.416.115 016.817.618.428.864 093.3

103.092 745.542.450.359.160.879.093.7

101.296.797 6

104.1114.9127.2131.0136.1149.0159.9166.9175.4186.9212.3242.9270.3288.2313.6341.1

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- 3 1 4-44 .1- 5 1 . 8- 3 9 5

5 414.48.5

- 3 27 85.8

- 3 . 8- 6 9- 7 . 0

2 74.9.7

- 1 2 52 13.7

- 4 3- 2 . 9

1.8- 1 . 4

2.21 1

- 1 3 . 9- 6 . 8

7.4- 1 3 . 1- 2 0 . 3

Federal Government

Re-ceipts

3.83.02 01.72.73 54.05.07 06 56.78.6

15.422 939.341.042 539 143.243.338 949 964.067.270 063.872 177.681.678 789.796.598 3

106 4114.5115.0124.7142 5151.2175 0196.9191.5198.7

Ex-pendi-tures

2.62.84.23.24.06 46.58.77.48.68.9

10.020.556.185.895.584.635.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0

102.1110.3113.9118.1123.5142.8163.6181.5189.5205.1222.0

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

1.2.3

- 2 1- 1 . 5—1.3- 2 9- 2 . 6- 3 . 6

— 4- 2 1- 2 . 2- 1 . 3- 5 . 1

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

3 513.48.4

- 2 49.16.2

- 3 . 8- 7 0- 5 . 9

4 05 72.1

- 1 0 . 2- 1 . 2

3.5- 3 8- 3 8

-3!o1.2

- 2- 1 2 . 4

- 6 . 57.3

- 1 3 . 6- 2 3 . 3

State and localgovernment

Re-ceipts

7.67.87 77.37.28 69.18.69 19.39.6

10.010.410 610.911.111 612.915.317.619.321.123.325.227 228.831.434.738.241 646.049.953.658.663.469.575.585 293.5

107.1119.0133.4151.8

Ex-pendi-tures

7.88.48 57.67.28 18.68.18 49 09.69.39.18 88.48.59 0

11.014.317.420.022.323.725.327.029.932 735.639.544 046.849.654.157.662.267.874.583 995.1

107.5118.9132.9148.8

Sur-plus ordeficit

nationalincome

andprod-

uct ac-counts

- 0 . 2- . 6- 8- . 3- . 1

5.6

'74

O).6

1.31 82.52.72 61.91.0.1

- . 7- 1 . 2

- 1 . 1—1.3- . 9

- 1 . 4- 2 . 3

- . 8.2

- . 5.9

1.21.71.01.3

- 1 . 6- . 3

.1

.53.0


296.6301 8301.7301.9

312.8317.8322.0

300.0314.0316.9323.6

329.9338.7344.1351 7

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

- 1 7 . 1—20.9—22.2

191.6193 8191.3189.3

196.5197.7197.8

196.1207.9206.7209.8

212.7221.4224.6229 4

- 4 . 5- 1 4 . 1- 1 5 . 4- 2 0 . 5

—16.2—23.7—26.7

128.0131.9135.3138.5

143.4149.6154.4

126.9130.0135.1139.8

144.2146.8149.8154 4

1.11.9.2

- 1 . 3

— 82.84.6

1 Surplus of $32 million.'Deficit of $41 million.Note.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and local

receipts and expenditures. Total government receipts and expenditures have been adjusted to eliminate this duplication.Source: Department of Commerce, Bureau of Economic Analysis.

277


T A B L E B-71.—Receipts and expenditures of the State and local government sector of the nationalincome and product accounts, 1946-71


Calendaryearorquarter

1946194719481949

19501951195219531954

1955195619571958 . . .1959

19601961196219631964

19651966196719681969

19701971*

1970: 1IIIIIIV

1971: 1 . . .IIIIIIVP

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

75.585.293.5

107.1119.0

133.4151.8

128.0131.9135.3138.5

143.4149.6154.4

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

11.813.715.518.321.3

23.626.8

23.023.523.824.2

25.026.327.228.8

Cor-porateprofits

taxaccruals

0.5.6.7.6

.8

.9

.8

.8

.8

1-00n.0

.2

.447q

2.12.22.43.23.4

3.54.3

3.53.53.73.3

4.24.34.3

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

45.949.954.160.666.7

73.681.9

70.772.874.576.4

78.380.483.385.6

Contri-butions

forsocialinsur-ance

0.5.6.7.8

1.01.21.31.51.7

1 82.02.32.52.7

3.03.23.53.84.1

4.55.05.76.47.3

8.39.2

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

11.114.415.818.720.3

24.429.7

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

74.583.995.1

107.5118.9

132.9148.8

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

70.179.089.4

100.8110.6

122.2135.4

Trans-ferpay-

mentsto

per-sons

1.72.32.92.9

3.53.03 23.33.4

3 73 84.24.64.8

5.15.55.76.06.5

6.97.78.7

10.011.8

14.417.0


7.98.28.48.7

8.99.19.39.5

23.023.924.925.9

27.029.530.232.0

126.9130.0135.1139.8

144.2146.8149.8154.4

117.1119.7124.0127.9

131.6133.6136.2140.3

13.314.014.815.6

16.416.917.217.7

Netinterest

paid

0.3.3.3.3

.3

.33

.3

.4

55

.5

.6

.7

.8

.8

.8

.7

.5

.3

.2

.0

.0

.1

.5

0.1.1.1.2

.3

.4

.5

.6

Less:Currentsurplusof gov-

ern-mententer-prises

0.7.8.8.9

.91.11 1

?4

788

2.0

2.22.32.62.82.9

3.03.13.23.43.5

3.84.1

3.63.83.94.0

4.14.14.14.2

Surplusor

deficit<-),

nationaincome

andprod-

uct ac-counts

1 91 0.1

-1 .2- . 4

(i)U 1- 1 . 1

—1 3- 9

-1 .4- 2 . 3- . 8

2- . 5

.91.21.7

1.01.3

-1 .6- . 3

.1

.53.0

1.11.9.2

- 1 . 3

- . 82.84.6

i Deficit of $41 million.Source: Department of Commerce, Bureau of Economic Analysis.

278


TABLE B-72.— State and local government revenues and expenditures, selected fiscal years, 1927-70[Millions of dollars]

Fiscal year 1

General revenues by source 2

TotalProp-ertytaxes

Salesand

grossre-

ceiptstaxes

Indi-vidualincometaxes

Corpo-rationnet

incometaxes

Reve-nue

fromFederalGovern-

ment

Allotherreve-nues3

General expenditures by function 2

Total Edu-cation

High-ways

Publicwel-fare

Allother *

1927-

1932..1934..1936-.1938..

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

1950..1952..1953—1954..

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

1960..1961-1962..1963..

1962-63*1963-64*.1964-65*

1965-66«..1966-67 «.

7,271

7,2677,6788,3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729,012

31,07334,66738,16441,21945,306

50,50554,03758,25262,890

62,26968,44374,000

7480153218

224276342422543

788998

1,0651,127

1,2371,5381,7541,7591,994

2,4632,6133,0373,269

3,2673,7914,090

4,7605,82617,3081

, . , - . - . -, 8,9081969-70 5 130,756 34,054 30,3221 10,8121

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10,73511,74912,86414,04714,983

16,40518,00219,05420,089

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

19,833 14,44621,241 15,76222,583 17,118

83,036 24,67091,197 S 26,047

19,08520,530I

1967-685 101r264j 27,747 22,9111968-69 5 1114, 550 30,673) 26,519

92

7949113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,2661,3081,505

1,5051,6951,929

2,0382,2272,5183,1803,738

116

2321,016948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8434,8656,377

6,9747,1317,8718,722

8,66310,00211,029

13,21415,37017,18119,15321,857

1,793

1,6431,4491,6041,811

1,8722,1232,2692,661.3,685

4,5415,7636, 25216,897

7,210

7,7657,1817,6448,757

9,2299,1908,86311,02817,684

22,78726, 09827,91030,701

7,584 33,7248,465! 36,711n ocn An iic9,2509,69910,516

11,63412,56313,48914,850

14,55615,95117,250

19,26921,19723,598 102;26,11829,973

40,37544,85148,887

51,87656,20160,20664,816

63,97769,30274,546

82,84393,350.02,411116,728131,332

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

23,72926,28628,563

33,28737,91941,15847,23852,718

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,8168,5679,592

9,4289,844

10,35711,136

11,15011,66412,221

12,77013,93214,48115,41716, 427

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

5,4205,7666,315

6,7578,2189,85712,11014,679

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, 58627,447

30,02933,28136,91541,96347, 508

1 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.8 Includes licenses and other taxes and charges and miscellaneous revenues.Mncludes 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 B-62 for net debt of State and local governments.


279


CORPORATE PROFITS AND FINANCETABLE B-73.—Profits before and after taxes, all private corporations, 1929—71


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..

1970...1971 i

1970: I .

IV.

1971: I . . .

Corporate profits (before taxes) andinventory valuation adjustment

Allin-

dus-tries

10.57.02.0

- 1 . 3- 1 . 2

1.73.45.66.84.96.39.8

15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.749.950.355.758.966.376.182.478.784.378.670.880.7

Manufacturing

Total

5.2

3.91.3

- . 5- . 41.12.13.23.82.33.3

5.59.5

11.813.813.29.79.0

13.617.616.220.924.621.622.019.926.024.724.019.326.324.423.326.628.832.739.342.638.741.736.029.534.1

Dur-able

goodsIn-

dus-tries

2.61.5.0

-1 .0- . 4

.3

.91.71.7.8

1.7

3.16.47.28.17.44.52.45.87.58.1

12.013.211.711.910.514.312.813.39.3

13.612.011.414.115.817.822.824.020.722.418.413.016.2

Non-dur-able

goodsin-

dus-tries

2.62.41.3.5.0.8

1.11.52.11.61.7

2.43.14.65.75.95.26.67.8

10.08.1

8.911.49.9

10.19.4

11.811.910.710.012.712.411.912.513.014.916.618.618.019.317.516.617.9

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

andpublic

utilities

1.8

1.2.5.2.0. 4.4.7.8.5

1.0

1.32.03.44.43.92.71.82.23.03.0

4.04.64.95.04.75.65.95.85.97.0

Allother

in-dus-tries

3.41.9

" g

- ! 8.3.9

1.72.22.12.03.03.75.16.26.76.78.59.9

12.511.612.713.513.3tt.613.415.215.615.815.918.4

7.5 17.97.9 19.18. 5 20. 59.5 I 20.6

10.111.111.910.810.610.0

8.08.4

23.525.627.929.132.032.7

33.338.2

Cor-po-rateprof-itsbe-fore

taxes

10.0

3.7- . 4

-2 .31.02.33.66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.1

49.750.355.459.466.877.884.279.887.684.275.485.2

Cor-po-rateratetavId Aliaiia-bil-itv 1ity *

1.4. 8.5. 4.5.7

1.01.41.51.01.42.87.6

11.414.112.910.79.1

11.312.510.417.822.319.420.317.721.621.721.219.023.723.023.124.226.328.331.334.333.239.939.734.137.7

Corporate profitsafter taxes

Total

8.6

2.9- . 9

-2 .7. 4

1.62.64.95.32.95.67.2

10.110.111.111.29.0

15.520.222.718.524.921.619.620.420.627.027.226.022.328.526.727.231.233.138.446.549.946.647.844.541.247.4

Divi-dends

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

10.511.311.711.612.613.413.815.216.517.819.820.821.423.624.425.025.5

Un-dis-trib-utedprof-its

2.8-2 .6-4 .9-5 .2-1 .6-1 .0

2!4.6

- . 21.83.25.75.96.66.54.49.9

13.915.611.316.013.011.011.51 1 . 316.515.914.210.815.913.213.516.016.620.626.729.125.324.220.016.221.9

Corpo-rate

capitalcon-

sump-tion

allow-ances J

4.24.34.34.03.83.63.63.63.63.73.73.84.25.05.46.16.44.75.87.07.9

8.810.311.513.215.017.418.920.822.023.524.926.230.131.833.936.439.543.046.851.356.261.9


69.871.573.069.079.582.580.0

31.131.530.625.034.435.033.0

14.314.913.88.8

17.217.014.8

16.716.516.816.217.218.118.1

8.27.87.98.18.48.58.5

30.532.234.535.936.739.038.6

75.675.878.571.683.086.985.8

34.134.535.632.338.339.137.5

41.541.342.939.244.847.848.2

25.024.925.225.025.625.425.725.3

16.616.417.714.319.222.422.5

54.455.756.758.0

59.461.062.764.4

Profitsplus

capitalcon-

sump-tion

allow-ances *

12.87.23.51.34.25.26.38.58.96.69.3

11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844.352.051.653.561.364.872.382.989.589.694.695.897.4

109.3

95.996.999.697.2

104.2108.7110.9

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.


280


T A B L E B—74.—Sales, profits, and stockholders1 equity, all manufacturing corporations {exceptnewspapers1), 1947-71


Yequ

194719481949

1950

195?19531954

19551956195719581959

19601961196?19631964

196519661967196819691

1970

1969:

1970:

1971

ar orarter

. " 1

1'IIIllIV

1 . .-IIIIIIV

1 . . .III l l -

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

492.2554.2575.4631.9694.6

708.8

162.8176.1172.4183.3

170.4181.3176.7180.4

177.5191.4185.6

Profits

BeforeFederalincome *taxes

16.618.414.4

23.227.422.924.420.9

28.629.828.222.729.7

27.527.531.934.939.6

46.551.847.855.458.1

48.1

14.115.813.914.4

12.113.711.710.7

12.114.512.8

AfterFederalincometaxes

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

28.6

7.98.98.08.4

6.98.07.06.7

7.08.57.5

Stock-holders'equity 2

65.172.277.6

83.398.3

103.7108.2113.1

120.1131.6141.1147.4157.1

165.4172.6181.4189.7199.8

211.7230.3247.6265.9289.9

306.8

281.5288.0

! 293.0297.1

300.9306.0309.5310.8

314.0319.0323.2


Sales(net)

66.675.370.3

86.8116.8122.0137.9122.8

142.1159.5166.0148.6169.4

173.9175.2195.5209.0226.3

257.0291.7300.6335.5366.5

363.1

86.094.289.896.5

87.295.489.790.8

90.799.892.6

Profits

BeforeFederalincometaxes

7.68.97.5

12.915.412.914.011.4

16.516.515.811.415.8

14.013.616.718.521.2

26.229.225.730.631.5

23.0

7.88.97.17.7

5.97.35.34.5

6.07.85.8


4.55.44,

6.

5

76.15.55

8875.8

7.

586

13981

06.989

11.

141614,1616

12.

6S6

54659

9

4.14.73.84.2

3.24.02.92.8

3.2

ii

Stock-holders'equity 2

31.34.

11

37.0

39.47.49.5?..54.

58.65.70.72.

92849

8258

77.9

82.84.89.93.98.

105.115.125.135.147.

155.

39135

42066

1

143.4146.8148.9151.1

152.2155.1156.6156.6

158.0160.3161.2

Sales(net)

84.190.484.6

95.1128.1128.0128.0125.7

136.3147.8154.1156.7168.5

171.8181.2194.4203.6216.8

235.2262.4274.8296.4328.1

345.7

76.881.982.786.8

83.286.087.089.6

86.991.693.1

Nondurable goodsindustries

Profits

BeforeFederalincometaxes

9.09.57.0

10.312.110.010.49.6

12.113.212.411.313.9

13.513.915.116.418.3

20.322.622.024.826.6

25.2

6.36.96.86.6

6.26.46.46.2

6.16.87.0


5.66.24.6

6.15.75.25.55.6

7.07.87.56.98.3

8.28.59.2

10 011.6

13.014.614.415 516.4

15.7

3.84.24.24.2

3.74.04.04.0

3.84.24.3

Stock-holders'equity *

34.038.140.6

43.551.153.955.758.2

61.366.470.674.679.2

83.187.792.396.3

101.3

106.3115.1122.6130.3142.3

151.7

138.0141.2144.1146.0

148.7151.0152.9154.2

156.0158.7162.0

1 Includes newspapers beginning 1959.3 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 ManufacturingCorporations," Federal Trade Commission and Securities and Exchange Commission.

Data are not necessarily comparable from one period to another due to changes in accounting procedures, industryclassifications, 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.

281


TABLE B-75.—Relation of profits after taxes to stockholders* equity and to sales, all manufac-turing corporations {except newspapers 0, by industry group, 1950-71

Year orquarter

1950195119521953. . . .1954195519561957.1958. . . .1959

1960196119621963 . .1964196519661967196819691

19701970: 1

III I I . . . .IV

1971: 1II.III . . . .

195019511952 . . .19531954 .1955195619571958 . . .1959

1960196119621963. . .196419651966196719681969» .19701970: 1

IIIllIV

1971: 1III I I—.

Allman-ufac-tur-ingcor-

pora-tions(ex-cept

news-pap-ers!)


Totaldur-

able 2

Mo-tor

vehi-clesand

equip-ment

Air-craftand

parts

Elec-tricalma-

chin-ery,

equip-ment,andsup-plies

Ma

ery(ex-

elec-trical)

Fab-ri-

catedmetalprod-ucts

Pri-maryironandsteelin-

dus-tries

p. ;

fpr-

ruus

dus-

Stone,clay,and

glassprod-ucts

Fur

fiv

Lum-berand

woodprod-ucts(ex-cept

furni-ture)

In-stru-mentsandre-

latedprod-ucts

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

clud-ing

ord-nance)

Ratio of profits after Federal income taxes (annual rate) to stockholders' equity—percent3

15.412.110.310.59.9

12.612.310.98.6

10.4

9.28.99.8

10.311.613.013.411.712.111.5

9.39.2

10.49.08.78.9

10.79.3

7.14.84.34.34.55.45.34.84.24.84.44.34.54.75.25.65.65.05.14.84.04.04.43.93.7

3.94.54.1

16.913.011.111.110.313.812.811.38.0

10.4

8.58.19.6

10.111 713.814.211.712.211.4

8.38.3

10.37.57.18.0

10.88.1

7.75.34.54.24.65.75.24.83.94.84.03.94.44.55.15.75.64.84.94.63.53.64.23.33.1

3.54.33.5

25.314.313.913.914.121.713.114.28.2

14.5

13.511.416.316.716.919.515.911.715.112.66.19.1

12.51.01.7

14.815.67.0

8.34.74.73.95.16.95.25.44.06.35.95 56.96.97.07.26.24.95 74.72.63.84.6.5.8

5.25.42.8

17.713.28.17.39.8

12.711.312.215.214.412.914.210.66.87.87.56.15.75.46.76.5

20.914.013.713.112.412.311.412.510.212.5

9.58.9

10.010.111.213.514 812.812.211.1

9.17.79.98.5

10.18.09.79.4

14.113.011.39.88.6

10.312.610.76.99.77.57.89.19.6

12.514.115.012.912.312.2

9.89.7

11.39.59.07.59.38.4

16.013.410.19.87.6

10.010.79.37.38.05.65.97.98.3

10.113.214.712.711.711.38.58.8

10.49.15.97.1

10.29.4

14.312.38.5

10.78.1

13.512.711.47.28.07.26.15.47.08.89.8

10.27.77.67.64.35.35.33.82.85.08.5.5

15.113.811.611.110.415.516.49.36.07.97.17.17.57.69.8

11.914.810.910.812.2

10.6

12.713.29.17.66.78.12.1

17.714.211.711.812.515.614.912.410.212.7

9.98.98.98.79.6

10.39.98.29.29.26.91.59.39.86.93.1

12.512.1

Profits after Federal income taxes per dollar of sales-

2.92.41.61.41.82.42.32.63.33.02.73.23.02.02.32.11.91.6

1.71.92.2

7.25.04.54.14.54.43.84.23.84.43.53 53.73.84.24.84.84.44 33.93.32.93.63.23.6

3.13.73.6

7.35.54.84.24.45.15.44.83.74.83.94.14.54.75.86.26 45.75 55.44.64.65.04.54.3

3.84.34.1

6.85.04.03.63.13.84.03.63.13.22.42 53.13.23.74.54 94 54 13.83.03.33.63.22.1

2.63.53.3

7.95.84.75.35.37.26.76.65.45.45.14.63.94.85.65.75 84 84 64.42.53.03.02.21.7

2.94.1.3

10.27.86.76.36.68.39.36.64.75.85.45.35.55.36.57.38.26.86.26.66.27.17.35.44.7

4.44.81.4

10.17.16.66.57.48.68.27.56.87.96.65.85.65.35.65.95.64.85 24.73.6.9

4.74.63.5

1.85.85.4

15.211.38.68.26.09.2

11.68.56.38.96.54.97.98.3

10.113.414.212.112.212.67.97.07.69.27.84.9

10.511.5

-cents

5.13.42.72.62.12.93.42.62.02.72.11 62.32.42.93.73.93.53 43.52.52.22.42.92.4

1.73.33.6

17.511.98.57.16.3

11.18.74.75.79.43.64.15.68.29.9

10.110.08.6

14.613.0

5.65.17.17.14.36.7

12.414.0

9.45.54.13.53.45.43.92.32.84.21.71.92.53.33.94.03.83.45.34.82.52.32.92.81.8

3.04.75.2

16.713.211.611.412.312.512.412.010.613.1

11.610.612.012.114.417.520.918.016.615.6

14.3

12.713.914.815.510.214.215.0

8.66.14.84.65.56.05.85.75.46.55.95.45.96.07.28.69.58.58.17.87.36.97.27.67.6

5.77.48.0

12.39.77.08.27.58 5

11.67.78.29.39.29.99.48.89.5

10.715.413.112.411.6

10.0

7.210.310.711.78.6

10.610.3

5.63.72.72.92.83.13.62.53.03.53.53.63.43.33.63.84.94.24.03.83.42.63.53.63.8

3.33.83.7


282


T A B L E B—75.—Relation of profits after taxes to stockholders' equity and to sales, all manufac-turing corporations {except newspapers1), by industry group, 1950-71—Continued

Year orquarter

Nondurable goods industries

Totalnon-dur-

able a

Foodandkin-dredprod-ucts

To-baccoman-ufac-tures

Tex-tilemill

prod-ucts

Ap-pareland

relatedprod-ucts

Paperand

alliedprod-ucts

Print-ingandpub-lish-ing

(ex-cept

news-pa-

pers i )

Chem-icalsand

alliedprod-ucts

Petro-leumrefin-

ing

Rub-berandmis-

cella-neous

plasticprod-ucts

Leatherand

leatherprod-ucts

1950 . .195119521953195419551956195719581959

19601961196219631964. . .19651966196719681969>

1970

1970: II I . . . .I I I . . .IV . . . .

1971: II I . . . .I I I . . .

1950195119521 9 5 3 . . . .195419551956195719581959

I 9 6 0 . . . .1 9 6 1 . . . .1 9 6 2 . . . .1 9 6 3 . . . .1 9 6 4 . . . .1 9 6 5 . . . .19661 9 6 7 . . . .1 9 6 8 . . . .1 9 6 9 1 . . .

1970

1970: L .II .III.IV.

1971: I..II.

Ratio of profits after Federal income taxes (annual rate) to stockholders' equity—percent3

14.111.29.79.99.6

11.411.810.69.2

10.49.89.69.9

10.411.512.212.711.811.911.5

10.310.010.510.510.39.8

10.610.6

12.38.17.68.18.18.99.38.78.79.38.78.98.89.0

10.010.711.210.810.810.910.810.010.411.811.010.211.511.7

11.59.58.49.4

10.211.411.712.513.513.413.413.613.113.413.413.514.114.414.414.515.713.715.017.416.614.815.717.1

12.78.24.24.61.85.75.84.23.57.55.85.06.26.18.5

10.910.17.68.87.95.15.44.85.44.84.67.26.5

10 12.94.45.14.56.18.16.34.98.67.77.29.37.7

11.712.713.312.013.011.99.38.37.2

14.47.35.5

10.912.5

16.213.910.510.19.9

11.511.68.98.19.58.57.98.18.19.39.4

10.69.19.7

10.17.08.38.26.25.34.95.95.3

11.510.39.19.49.2

10.213.011.79.0

11.410.68.5

10.39.2

12.614.215.613.012.512.611.29.2

12.711.211.57.9

10.810.4

17.812.210.910.711.614.714.213.311.413.712.211.812.412.914.415.215.113.113.312.811.411.912.211.210.511.712.811.8

15.213.313.412.713.413.912.510.09.8

10.110.310.111.311.411.812.412.512.311.711.010.510.810.711.911.09.9

10.6

16 914.811.111.310.613.212.211.19.1

11.09.19.39.69.2

10.611.712.210.312.310.37.17.78.57.44.87.6

10.99.3

6.54.5LIL3L4i. 1i.3L9L4L9

.8L7L7

95.45.55.65.35.25.0

4.5

4.54.64.64.4

4.44.64.6

Profits after Federal income taxes per dollar of sales—cents

3.42.01.92.02.12.32.42.22.22.42.32.32.32.42.72.72.72.62.62.62.52.42.42.72.52.52.72.8

4.93.83.23.74.24.85.05.25.45.45.55.75.75.95.95.95.95.95.55.25.85.45.46.26.06.06.06.5

5.83.41.92.21.02.62.61.91.63.02.52.12.42.33.13.83.62.93.12.91.92.11.82.01.71.72.62.4

2 8.6

1.01.2LI1.3.6

'.01.51.41.31.61.42.12.32.42.32.42.31.91.71.52.91.51.32.42.6

8.86.65.75.45.66.16.15.04.75.25.04.74.64.55.14.95.44.74.74.83.44.23.93.12.52.52.82.5

4.53.73.33.43.43.64.23.73.14.03.62.83.43.24.34.85.14.44.14.74.23.64.94.24.13.14.14.0

10.36.56.16.16.88.38.07.67.07.97.57.37.47.57.97.97.86.96.86.55.96.26.15.95.56.26.46.1

11.110.110.410.611.111.610.69.59.59.9

10.39.7

10.810.911.111.211.010.710.19.39.19.39.29.68.98.08.7

5.84.53.63.84.04.44.44.23.54.03.63.83.73.64.14.34.43.94.53.82.73.03.12.91.93.13.93.5

10.92.15.86.05.98.57.27.05.78.56.34.46.96.9

10.511.612.911.913.09.3-9.49.09.1

10.59.08.38.17.9

3.7

\.1.1.

2!

\.2.1.1.

l!2.

3!o3.03.32.62.52.52.62.72.32.32.32.1

1 Includes newspapers beginning 1969.1 Includes certain industries not shown separately.3 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 ManufacturingCorporations," Federal Trade Commission and Securities and Exchange Commission. See also Note, Table B-74.

Sources: Federal Trade Commission and Securities and Exchange Commission.

283


T A B L E B—76.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1960—70


Source or use of funds 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970

Sources, total

Internal sources »

Undistributed profits iCorporate inventory valuation ad-

justmentCapital consumption allowances^

External sources

StocksBonds 2MortgagesBank loans n.e.c.Other 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-

rency ._ _Time deposits..U.S. Government securitiesOpen-market paper.State and local obligations

Consumer credit.Trade creditOther financial assetss

Discrepancy (uses less sources)

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

L3- 5 . 4

1.7- . 2

.45.32.2

- 4 . 3

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

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

.78.53.2

- 5 . 0

67.1

43.9

13.6

- . 530.8

23.2

l.*94.93.7

5*. 31.93.7

63.2

45.6

38.62.64.3

17.7

4.7

3.9.5.9.2

1.08.13.9

- 3 . 8

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

93.1

56.6

23.1

-1 .735.2

36.5

.05.43.9

10.6.6

9.12.24.6

85.8

62.8

52.82.07.9

23.1

1.7

-1 .53.9

- 1 . 6.5.5

1.215.15.1

- 7 . 2

100.6

61.2

24.7

- 1 . 838.2

39.4

1.210.24.27.91.47.8

.26.5

92.5

77.1

61.61.1

14.4

15.5

1.9

.7— 7

-l.*22.01.01.2

11.31.0

- 8 . 0

96.6

61.5

21.1

-1 .141.5

35.2

2.314.74.56.41.44.9

-4 .75.6

86.5

72.0

62.52.37.3

14.6

2.1

.72.9

- 2 . 81.5

- . 2

.97.73.8

-10.1

108.0

61.7

19.9

- 3 . 345.1

46.3

12.95.88.83.6

10.12.13.8

101.7

76.1

67.42.36.4

25.6

8.6

1.61.91.74.4

-1 .1

1.713.91.4

- 6 . 3

118.1

59.5

15.8

- 5 . 549.2

58.6

4.312.14.8

11.07.0

19.7-1 .9

1.7

112.7

84.9

75.62.86.5

27.8

1.3

- . 9-9 .8-1 .7

8.65.1

1.317.38.0

- 5 . 4

105.5

61.5

12.3

- 4 . 553.8

44.0

6.820.35.31.25.25.5

- 3 . 3

3.1

103.7

84.278.33.32.6

19.5

8.9

- 1 . 012.8

- 3 . 2- 1 . 1

1.4

1.46.23.0

- 1 . 8

1 The figures shown here for internal sources, undistributed profits, and capital consumption allowances differ fromthose shown for cash flow, net of dividends, undistributed profits, and capital consumption allowances in the gross cor-porate product table in the national income and product accounts of the Department of Commerce for the following reasons:(1) these figures include, and the statistics in the gross corporate product table exclude, branch profits remitted fromforeigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, and the gross corporateproduct figures include, the internal funds of corporations whose major activity is farming.

2 Foreign investment excludes amounts financed by bond issues abroad, and bond issues outside the U.S. are excludedfrom financial sources of funds above.


284


TABLE B—77.—Current assets and liabilities of U.S. corporations, 1939-71


End of yearor quarter

193919401941194219431944..19451946..

19471948..194919501951195219531954195519561957.1958195919601961New series *196119621963196419651966 : . . .196719681969. .19701969: 1

II . . . . .IIIIV

1970: 1II . -III _IV

1971: 1 .IIIII

Current assets

Total

54.560.372.983.693.897.297.4

108.1

123.6133.0133.1161.5179.1186.2190.6194.6224.0237.9244.7255.3277.3289.0306.8

304.6326.5351.7372.2410.2442.6470.4513.8555.9572.1523.3534.5544.7555.9561.0566.3567.6572.1576.9582.6591.9

Cashon

handandin

banks1

10.813.113.917.621.621.621.722.8

25.025.326.528.130.030.831.133.434.634.834.937.436.337.241.1

40.743.746.547.349.949.354.158.054.956.954.655.453.954.952.952.553.756.955.858.659.8

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

19.219.620.218.617.015.412.714.212.79.7

16.013.512.412.712.510.79.39.7

10.110.310.6

Re-ceiv-ablesfromU.S.Gov-ern-

ment3

0 1.6

4.05.04.72.7

.7

Notesandac-

countsreceiv-able

22 123 927.423.321.921.823.230 0

38 34?. 44:

1.12.72.82.62.42.32.62.82.82.93.13.4

3.43.73.63.43.94.55.15.14.84.24.84.84.64.84.74.44.24.24.23.93.9

.055.758.864.665.971.286.695 199.4

106.9117.7126.1135.8

133.3144.2156.8169.9190 2205.2216 0237.1261.0268 1241.3248.6256.3261.0264.5268.7270.0268.1269.8273.2276.9

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

95.2100.7107.0113.5126.9143.1153.4165.8184.8194.4170.4175.2180.0184.8188.0190.2191.8194.4196.8197.4199. 5

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

12.914.717 819.622 325.129 033.637.838 836 136.937.437.838.539.938.538.840.139.341.2

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

155.8170.9188.2202.2229.6254.4271.4301.8342.7355.2308.7318.9330.9342.7347.7352.7353.6355.2356.5356.3360.6

Current liabilities

Ad-vances

andpre-pay-

ments,U.S.Gov-ern-

ment^

0 6.8

2.02.21.8.9

s,

37

Notesandac-

countsPay-able

21.922.625.624.024.125.024.831.5

- >

39- 337

.41.32 32.22.42.32 42.31.71.71.81.8

1.82.02.52.73 14.45 86.47.36 66.97.27.57.37.27.06.86.66.15.35.2

.547.953.657.057.359.373.881.584.388.799.3

105.0112.8

110.0119.1130.4140.3160.4179.0190.6209.8238.1244.5210.7220.1227.9238.1238.4244.1243.0244.5240.3241.2242.2

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

14.215.216.517.019.118.314 116.416.615.-918.515.015.916.618.014.615.415.918.616.818.7

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

29.834.538 742.246 952.860 869.180.688.172.776.579.680.684.287.188.388.191.493.094.7

Network-

ingcapi-tal

24 527 532 336.342.145.651 656.2

62 168 672.481.686.590 191.894.9

103.0107 4111.6118.7124.2128 6135.6

148.8155.6163 5170.0180 7188.2198 9212.0213.2217.0214.6215.6213.8213.2213.3213.6214.0217.0220.4226.3231.3

i Includes time certificates of deposit.3 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.

* I ncludes marketable investments (other than Government securities and time certificates of deposit) as well as sundrycurrent assets.

* Generally reflects definitions and classifications used in "Statistics of Income" for 1961.Note.—Data relate to all U.S. corporations, excluding banks, savings and loan associations, insurance com-

panies, and beginning with the new series for 1961, investment companies. Year-end data through 1967 are based on"Statistics of Income" (Treasury Department), covering virtually all corporations in the United States. "Statistics ofIncome" data may not be strictly comparable from year to year because of changes in the tax laws, basis for filing returns,and processing of data for compilation purposes. All other figures shown are estimates based on data compiled from manydifferent sources, including data on corporations registered with the Securities and Exchange Commission.

Source: Securities and Exchange Commission.

285


TABLE B--78.—State and municipal and corporate securities offered, 1934-71


Year or quarter

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...

1970..1971 p.

1969:1—I L .III.IV..

1970:1 . . .I I . .III.IV..

1971: I . .

I V * .

State andmunicipalsecurities

offeredfor cash

(principalmounts)

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

11,14811,08914,28816,37411,460

17,76224, 332

2,7383,4262,3762,920

4,0173,6564,2785,790

6,5405,9615,8455,985

Corporate securities offered for cash

Totalcorpo-

rateoffer-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

15,99218,07424,79821,96626,744

38,94445,227

6,2197,3546,3326,839

7,97710,4698,55911,939

12,19111,68810,44710,902

Type of corporate security

Com-mon

stock

222722852587

1081103456163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,2941,3141,0112,679

1,5471,9391,9593,9467,714

7,2929,445

1,7862,1411,6162,171

1,9381,8321,3032,219

1,8182,6892,1162,822

Pre-ferredstock

862714068698

183167112124369

7581,127762492425

631838564489816

635636411571531

409450422343412

725574885637682

1,3883,663

236128182135

200359356473

487695

1,963518

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, 348

30,26432,119

4,1975,0854,5344,533

5,8398,2786,9009,247

9,8858,3046,3687,563

Industry of corporate user

Manu-fac-

turing i

67

7971,3321,120848604

992848539510

1,061

2,0263,7012,7422,2261,414

1,2003,1224,2,039254

2,268

2,3,4,

994647234

3,5152,073

2,4,3,3,3,

152077249514046

5,4177,11,6,6,

1011,

1,111

,070,058,979,356

,513,600

,407,774,862,314

2,5842,4452,3153,169

3,7943,1302,2022,474

Elec-tric,gasand

water 2

133

1,2842,040771

1,2341,271

1,2031,357472477

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

2,9363,6654,9355,2816,736

11,01711,778

1,3451,8791,5441,967

2,0852,8132,7143,405

3,1982,9102,6513,019

Trans-porta-tion^

176

126797344

55186

32436648

161609

1,454711286755800

813494992595778

893724824824967

718694567957982

1,0131,9722,0671,8752,146

2,2802,360

612371356

772336492680

417971457516

Com-munica-

tion

902571

399612760882720

1,1321,4191,4621,424717

1,0501,8341,3031,1052,189

9472,0031,9791,7662,188

5,1425,991

474432684598

7662,163868

1,346

1,606896

2,2631,225

Other

21

1254017418

103

159964

21109

211329293

1,008946

1,3001,0581,0682,1382,037

2,7572,6192,4261,9912,733

3,3833,5272,7613,9574,980

5,6803,3644,7596,0649,319

9,99113,498

2,1872,6571,8712,604

1,7712,7112,1713,339

3,1763,7812,8743,668

1 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial, and miscellaneous companyissues.

3 Prior to 1948, also includes telephone, street railway, and bus company issues.1 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."

286


TABLE B-79.—Common stock prices,

Year or month

193919401941194219431944194519461947194819491950 .1951195219531954. .19551956195719581959196019611962196319641965196619671968196919701971 *.

1970: Jan _.FebMarApr .MayJuneJulyAugSeptOctNovDec

1971: Jan . . . .FebMarAprMayJuneJulyAug .SeptOctNovDec*

Total(500

stocks)

12.0611.029.828.67

11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.2298.29

90.3187.1688.6585.9576.0675.5975.7277.9282 5884.3784.2890.0593.4997.1199.60

103.04101.6499.7299.0097.2499.4097.2992.7899.70

Standard

earnings, and yields, and stock market credit, 1939—71

& Poor's common stock data

Price indexes{

Indus-trials(425

stocks)

Publicutilities

(55stocks)

1941-43=10

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

107.49107.1391.29

108.35

99.4095.7396.9594.0183.1682.9683.0085.4090.6692.8592.5898.72

102. 22106.62109. 59113.68112.41110. 26109. 09107. 26109. 85107. 28102.21109.67

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 6454 4859.33

55.7255.2459.0457.1951.1549.2250.9152.6254 4453.3754 8659.9663.4362.4962.4262.0659.2057.9060.0857 5156.4857 4155.8657.07

Rail-roads(20

stocks)

9.829.419 398.81

11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.0930.3132.8330.5637.5845.4646.7846.3446.7248.8445.9532.1341.94

37.6236.5837.3336.0531.1028.9426.5926.7429.1431.7330.8032.9536.6438.7839.7042.2942.0542.1242.0543.5547.1844.5841.1943.17

Divi-dend

yield 2(per-cent)

4.055 596 827.244 934 864.173.854 935 546.596.576.135 805 804.954.084.094 353.973.233.472.983 373.173.013.003 403.203.073 243.833.14

3.563.683 603.704.204.174.204 073 823.743 723.463.323.183.102.993.043.103.133.183.093.163.313.10

Price/earn-ings

ratio 3

13.8010.258 278.80

12.8413.6616.3317.699.366.916.646.639.27

10.479.69

11.2511.5114.0512.8916.6417.0517.0921.0616.6817.6218.0817.0814.9217.5217.2016.5715.91

17.31

13.33

15.77

17.22

18.11

17.43

17.69

Stock market credit

Customer credit (excludingU.S. Government securities)

Total

Netdebitbal-

ances4

Bankloans

to"others"»

Bankloans tobrokers

anddealers6

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

10,34712,48810,010

9,0968,9328,7148,3127,7237,560

942473517499821

1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,0795,5215,3297,8839,7907,445

86,6836,5626,3535,9855,4335,281

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

( 8 )

( 8 )(8 )

( 8 )( 8 )( 8 )

353432503515469428561573648780

1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271,974

5 2,2492,1152,4642,698

7 2, 5652,3502,438

2,4132,3702,3612,3272,2902,2792,3052,3012,3292,2702,3252,3502,3072,3302,3222,3302,3442,3882,4212,4342,4322,4142,3982,438

715584535850

1,3282,1372,7821,471

7841,3311,6081,7421,4192,0022,2482,6882,8522,2142,1902,5692,5842,6143,3984,3524,7544,631

M,2774,5015,0825,796

i 5,1416,0886,264

3,4533,7814,1364,0673,7903,3563,5253,8473,6584,0634,1186,0884,8434,4414,8284,2984,2865,0704,1564,7315,1835,2455,4396,264

1 Monthly data are averages of daily figures and annual data are averages of monthly figures.2 Aggregate cash dividends (based on latest known annual rate) divided by the aggregate market value of the stocks in

the group based on Wednesday closing prices. Monthly data are averages of the four or five weekly figures and annualdata are averages of monthly figures.

3 Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter. Annual ratios areaverages of quarterly data.

* As reported by member firms of the New York Stock Exchange carrying margin accounts. Balances secured by U.S.Government obligations are excluded through 1967 and included thereafter. 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 Wednesday.

6 Loans by weekly reporting member banks (weekly reporting large commercial banks beginning 1965) for purchasingof carrying securities, including U.S. Government obligations. Data are for last Wednesday.

7 Revised series beginning June 1969; not strictly comparable with earlier data.*Series discontinued beginning July 1970.Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New York Stock

Exchange.

287


TABLE B-80.—Business formation and business failures, 1929-11

Year or month

1929.. .

1930.. .1931 . . .1932.. .1933 »_.1934.. .1935.. .1936...1937.. .1938.. .1939 s .1940.. .1941 . . .1942.. .1943. . .19441945.. .1946.. .1947...1948. . .1949. . .

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

1960.. .1961.-.1962.. .1963...1964. . .1965. . .1966. . .1967.. .1968. . .1969--.1970...1971.. .

1970: Jan,..Feb...Mar..Apr...May..June..

July..Aug._Sept..Oct...Nov..Dec...

1971: Jan..Feb..Mar_.Apr...May..June-July..Aug_.Sept.Oct..Nov..Dec.

Indexof net

businessformation

(1967-100)

112.587.993.193.298.194.491.398.995.090.389.496.7

92.488.490.793.397.298.598.2

100.0109.8116.2108.1

* 110.2

Newbusinessincorpo-rations(num-

ber)

132.916112,897

96, 34685,640

93.09283,77892.946

102.706117,411139,915141,163137,112150,781193,067

182,713181,535182,057186,404197,724203,897200,010206, 569233,635274,267266, 086

* 236,539

Business failures i

Busi-ness

failurerate'

103.9121.6133.4154.1100.361.161.747.845.961.169.6

63.054.444.616.46.54.25.2

14.320.434.4

34.330.728.733.242.041.648.051.755.951.8

57.064.460.856.353.253.351.649.038.637.343.841.7

Seasonally adjusted

114.114.110.109.107.107.106.105.105.105.105.104.105.105.109.109.109.111.

112.112.111.114

527780125965862288

0970

22,39723,15221,38321,93922,26722,19222,10622, 05522, 37221,62522,38322,08522,33820,92323,22022,77024,16824,691

25,07325,14223,27824,936

33.739.440.143.742.143.4

46.847.450.045.950.844.543.341.843.942.942.844.339.643.640.138.141.637.5

Number of failures

Total

22,909

26,35528,28531,82219,85912,09112,2449,6079,49012,83614,768

13,61911,8489,4053,2211,222809

1,1293,4745,2509,246

9,1628,0587,6118,86211,08610,96912,68613,73914,96414,053

15,44517,07515,78214,37413,50113,51413,06112,3649,6369,15410,74810, 326

734817921992891912

916910906941939869

905860

1,042989912935

786848741759819730

Liability sizeclass

Under$100,000

22,165

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

13,40011,6859,2823,1551,176759

1,0033,1034,8538,708

8,7467,6267,0818,07510,22610,11311,61512, 54713,49912,707

13,65015,00613,77212,19211,34611,34010,83310,1447,8297,1928,0197,611

555622704737662703

650692614728729623

663620743746676680

606621523566629538

$100,000andover

744

9471,0551,625979670553322287283227

219163123664650126371397538

416432530787860856

1,0711,1921,4651,346

1,7952,0692,0102,1822,1552,1742,2282,2201,8071,9622,7292,715

179195217255229209

266218292213210246242240299243236255

180227218193190192

Amount of currentliabilities (millions

of dollars)

Total

483.3

668.3736.3928.3457.5334.0310.6203.2183.3246.5182.5

166.7136.1100.845.331.730.267.3

204.6234.6308.1

248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8

938.61,090.11,213.61,352.61,329.21,321.71,385.71,265.2

941 01,142.11,887.81,916.9

137.3139.4120.0131.9147.9170.5251.9169.6232.9144.8119.8121.7168.8150.9224.6153.8249.5165.8147.0155.6115.8144.7129.0121.7

Liability sizeclass

Under$100,000

261.5303.5354.2432.6215.5138.5135.5102.8101.9140.1132.9

119.9100.780.330.214.511.415.763.793.9

161.4

151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9

327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3271.3

17.621.624.625.022.624.021.922.520.423.824.421.023.622.426.826.224.522.5

21.822.120.020.621.221.0

$100,000andover

221.8364.8382.2495.7242.0195.4175.1100.481.4

106.449.746.835.420.515.117.118.851.6

140.9140.7146.7

97.1128.0151.4226.6251.2243.0322.9348.2430.7413.9

611.4720.0867.1

1,031.61,015.61,000.01,064.1

967.3699.9910.8

1,618.41, 645. 6

119.6117.895.4

106.9125.3146.5230.0147.1212.6121.095.5

100.7145.2128.6197.8127.6224.9143.3125.2133.495.9

124.1107.7100.7

1 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933, of real estate,insurance, holding, and financial companies, steamship lines, travel agencies, etc.

* Failure rate per 10,000 listed enterprises.» Series revised; not strictly comparable with earlier data.* Preliminary; based on seasonally adjusted data through October.Sources: Department of Commerce (Bureau of Economic Analysis) and Dun & Bradstreet, Inc.

288


AGRICULTURETABLE B-81.—Income of farm people and farmers, 1929-71

Year orquarter

Personal Incomereceived by totalfarm population

Froma!l

sources

Fromfarm

sources1

Fromnon-farm

sources 2

Income received from farming

Realized gross

Total*

Cashreceipts

frommarket-

ings

Produc-tion ex-penses

Net to farmoperators

Exclud-ing netinven-

torychange

Includ-ing netinven-tory

change*

Net income perfarm, includingnet inventory

change

Currentdollars

1967dollars*

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...

1970. . .1971 P..

1970: LII...III.IV..

1971: I

Billions of dollars Dollars

5.47.77.29.07.27.47.6

10.114.116.516.617.220.021.123.819.5

20.422.722.119.818.417.617.817.719.518.1

18.719.720.420.620.623.624.924.025.127.727.528.0

3.25.44.66 24.74.84.86.8

10.112.112.212.815.515.818.013.314.116.215.413.412.511.411.211.012.811.0

11.512.212.312.111.313.514.413.113.214.914.214.5

IV P..

2.22.32.62.72.52.62.83.33.94.44.44.44.65.35.86.26.36.56.76.45.96.26.66.66.77.0

7.27.58.28.59.3

10.010.510.911.912.8

13.313.5

13.911.58.46.47.18.69.7

10.811.410.110.611.113.918.823.424.425.829.534.134.731.632.337.136.835.033.633.134.334.037.937.5

38.139.841.342.342.644.949.749.050.955.556.658.6

11.39.16.44.75.36.47.18.48.97.77.9

8.411.115.619.620.521.724.829.630.227.828.532.932.531.029.829.530.429.733.533.5

34.235.136.437.437.239.343.342.744.148.1

49.251.6

7.76.95.54.54.44.75.15.66.25.96.3

6.97.8

10.011.612.313.114.517.018.818.019.422.322.621.321.621.922.423.325.226.126.427.128.629.729.530.933.434.836.238.7

40.942.9

6.34.52.91.92.73.94.65.15.24.24.34.26.18.8

11.812.112.815.017.115.913.612.914.814.113.712.011.211.910.712.711.4

11.712.612.612.613.114.016.314.214.716.8

15.7lb.7

6.24.33.32.02.62.95.34.36.04.44.4

4.56.59.9

11.711.712.315.115.417.712.813.716.015.113.112.511.511.411.313.511.5

12.113.013.213.212.315.016.314.914.816.915.916.3

945651506304379431775639905668685

7061,0311,5881,9271,9502,0632,5432,6153,0442,233

2,4212,9462.8962,6262,6062,4632,5352,5903,1892,795

3,0493,3993,5863,7083,5644,4875,0194,7304,8545,685

5,4515,676

1,9691,4471,297

9211,1151,1341,9871,6382,2621,7581,8511,8582,5783,4523,7063,6113,6194,0373,5343,9032,9773,1863,5493,4483,1263,1022,9322,9822,9433,5833,140

3,3883,7773,9414,0303,8324,7235,1214,7304,6675,2164,7824,770


57.957.155.755.656.857.659.360.9

50.549.748.448.349.750.652.353.8

40.240.741.241.442.242.843.043.6

17.716.414.514.214.614.816.317.3

17.916.614.614.514.915.317.118.2

6,1205,6804,9904,9605,1805,3205,9506,330

5,4605,0304,3804,3104,4304,5104.9605,280

1 Net income to farm operators including net inventory change, less net income of nonresident operators, plus wagesand salaries and other labor income of farm resident workers, less contributions of farm resident operators and workersto social insurance.

2 Consists of income received by farm residents from nonfarm sources, such as wages and salaries from nonfarm em-ployment, nonfarm business and professional income, rents from nonfarm real estate, dividends, interest, royalties,unemployment compensation, and social security payments.

3 Cash receipts from marketings, Government payments, and nonmoney income furnished by farms (excluding netinventory change).

< I ncludes net value of physical change in inventory of crops and livestock valued at average prices for the year.s Income in current dollars divided by the index of prices paid by farmers for family living items on a 1957 base.

Source: Department of Agriculture.

289


TABLE B-82.—Farm production indexes, 1929-71

[1967=100)

Year

1929...

1930...193119321933. .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...19611962...1963...1964...

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

1970...1971 p..

Farmout-put i

53

5256545043

5247585758

6062696870

6971697574

7375787979

8282808688

9090919594

9796100102103

102111

Crops

Total 3

62

5966625646

6050696564

6668767175

7376738379

7677818179

8282808989

9291929593

9895100103104

100112

Feedgrains

50

4551594527

4831545252

5370666063

6166507364

6560646266

6969758285

8879808776

89891009599

90117

Hayand

forage

69

5763646056

7157657065

7574817978

8176737372

7780788080

8581888884

8989929293

9796100100100

100106

Foodgrains

50

5559473533

4140555747

5259625366

6871838069

6463817466

6265619072

8678737684

878710010597

91107

Vege-tables

65

6667686571

7267737272

7475808682

8493828784

8580818483

8691889089

9196949490

9697100103103

102101

Fruitsandnuts

67

6582676863

8062837585

8388877587

7994908287

8789868788

8892849193

8791928990

959710093113

108115

Cot-ton

200

188230175175130

143168257162160

170145173155166

122118160202217

135205205222185

199180148154196

192193200207206

202129100148135

135141

To-bacco

77

8378517055

6760807097

7464717199

100117107100100

103118114105114

111110848891

99104117119113

94951008791

9789

Oilcrops

8

88868

129111317

2022333529

3130323936

4138373741

4654536558

6171727575

9096100112115

116119

Livestock and products

Total »

54

5556565752

5054535659

6064717773

7371706872

7578787982

8484838588

8791929597

9597100100101

106108

Meatani-mals

52

5255565849

4450485259

6063738173

7068676669

7479797881

8683808288

8589909598

9296100102102

108112

Dairyprod-ucts

76

7779808079

7980808283

8589929193

9594939093

9392929798

99101102101100101104105104105

1041011009999

100101

Poul-tryandeggs

32

3332323230

30323(23335

3639455251

5450494854

5659596163

6268697376

7581818387

909610098101

106107

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.8 Includes certain items not shown separately.


290


TABLE B-83.—Farm population, employment, and productivity, 1929-71

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 .

1970..1971 p.

Farm population( A p r i l 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

12,36311,59510,87510,45410,307

9,7129,400

As per-cent of

totalpopu-lation1

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

8.78.17.77.16.8

6.45.95.55.25.1

4.74.5

Farm employment(thousands)

Total

12,763

12,49712,74512,81612,73912,627

12,73312,33111,97811,62211,338

10,97910,66910, 50410,44610,219

10,00010.29510,38210,3639,964

9,9269,5469,1498,8648,651

8.3817,8537,6007,5037,342

7,0576,9196,7006,5186,110

5,6105,2144,9034,7484,596

4,5234,454

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

4,1283,8543,6503,5353,419

3,3483,286

Hiredworkers

3,403

3,1903,1032,8942,8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362,1442,0892,081

2. 0361,9531,9401,9821,952

1,8851,8901,8271,7801,604

1,4821,3601,2531,2131,176

1,1751,168

Farm output

Perunit oftotalinput

Per man-hour

Total

Cropproduc-

tionper

acre4

Index, 1967 = 100

56

5560615752

6154656463

6467737172

7376748076

7676798081

8385859292

969797

10098

10198

100100101

99107

17

1717171615

1817192020

2122242425

2729293233

3536394143

4750535962

6770738083

9194

100106112

113122

17

1718181716

1917202121

2324262627

2931313536

3938424345

4852566566

7173778285

9295

100106112

110121

26

2626252523

2425252627

2728303231

3232333436

3739404143

4648505559

6267717783

8793

100105112

120120

5259565042

5446626061

6263706468

6770677570

6969737371

7477778686

92959795

10099

100104107

102112

1 Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian populationliving on farms, regardless of occupation.

1 Total population of United States as of July 1 including Armed Forces overseas.1 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, Statistical

Reporting Service, differ from those on agricultural employment by the Department of Labor (see Table B-22) because ofdifferences in the method of approach, in concepts of employment, and in time of month for which the data are collected.See 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).

291


TABLE B-84.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-71[1967 = 1001

Year or month

1929 .

19301931193219331934193519361937. . .19381939

194019411942-1943194419451946..194719481949

1950-1951195219531954 .19551956195719581959

19601961...1962...196319641965196619671968 •_1969

1970—1971

1970: Jan 15Feb 15Mar 15Apr 15 .May 1 5 —June 15July 15Augl5Sept 15Octl5Novl5Dec 15...

1971: Jan 15 .. .Feb 15.Mar 15Apr 15 .. „May 15June 15

July 15Augl5 .Sept 15Oct 15Novl5 .Dec 15

Prices received by farmers

Allfarmprod-ucts »

58

49342628354345483837

3949637678819310911398

102119113100979191929895

949496969398105100103108

110112

113114114111110110

112109110108106104

106112111111113113

113113111113114116

Crops

Allcrops

65

55382931404850544342

445570858792104122127111

10311711810610710?104999998

9910010310610610310510010197

100108

96989897100101

10310010410210299

102105107108111114

111108104106108109

Foodgrains

66

53322537515561684241

475568849497114153141123

126137138132131129126127117114

115118128126107931041009187

9294

899089919086

859196989996

979796979899

938988919193

Feedand

Total

68

61432833556159724141

495366879996116147148102

111130134118117105105968890

87878995961001041009196

101106

979796969899

100101109107106110

114116116114114118

11210096909097

grainshay

Feedgrains

71

63412533566463784241

4954679010197122158157101

114136139122120107107979091

87878994951001041009094

101108

949594949799

101102110108106110

114116116114115120

1139994878694

Cot-ton

79

54342636535152493739

435882879094125143142129

148176162140144142140138132140

13313714214213712811310010091

96109

849294969898

99100971019893

93959398101103

106119119122127129

To-bacco

31

25181519283129363127

24284557636568676872

73797878807981848791

90959689889299100102107

109113

108109109109109109

109110110106109110

110111111111111111

111112115115118120

Oil-bear-ing

crops

52

40261621374643473435

3750667380839413212788

1001231071011109093888279

7793909493961061009691

97108

909191939396

999799103104103

106107106104105108

113112108108105108

Livestock and products

Alllive-stockandprod-ucts1

57

48352625294143454039

3950627171768710411498

10112111097908482889993

919192898594105100104116

118116

126126125121117117

119115116113109108

110117114114114113

114117117118119121

Meatani-mals

46

40271918203435393433

324355605762749810793

101122105868473708210093

888992868095106100103119

121119

126130132128125126

126120116112104102

106120117117119119

120122120123123125

Dairyprod-ucts

54

46362828333741433836

39465365737588899882

81949987808183858384

85858383848596100104107

113116

115113110109107106

108110115119120119

118117115113111109

111113117121121121

Poul-tryandeggs

122

97746156678887848373

7492115145134150152169183167

14117?1561671351451331??129108

121111110111108110122100108123

115100

150137127111100100

111104115101108111

1081031021029897

981021009496105


292


TABLE B-84.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-71—Con.[1967=100]

Year or month

19291930193119321933.1934193519361937193819391940...194119421943. . .194419451946.. .1947194819491950195119521953195419551956 .19571958.. ..19591960196119621963... . ..19641965 . .1966 .... ..196719681969... .. ..197019711970: Jan 15. .

Feb 15Mar 15...Apr 15.May 15Junel5_.July 15._.Aug 15...Sept 15..Octl5___Nov 15Dec 15...

1971: Jan 15...Feb 15...Mar 15. .Apr 15...May 15June 15...July 15...Aug 15Sept 15...Oct 15....Nov 15...Dec 15....

Prices paid by farmers

Allitems,in-

terest,taxes,andwagerates(parityindex)

4744383332353636383636363944505356617076737582848181818184868788889091929498100104109114120112113113114114114114114115115115116117118118119120120120120120121121122

Allitems

5046393434394141434040404349555859657683798190908687868688909191929294939698100103107111117110110110111111111111111112113113113114115115116116117117118118118118119

Fam-ily

livingitems

4845393334383939403837384046525457637478757683848484848588898990909192939598100104109114119112112112113113114114114115115115116116117117117118119119120120120120121

Commodities and services

Production items

Allproduc-tion

items *

5147393434404343464342434552576061677887838695958989878790929392939495949699100102106110115108109109109109109109109111111111112112113114115115116116116116116117117

Feed

645841303449505158444447516274828194111118979911111810710710097959394929394989798102100959710210610010110099100100100101105105105107108108108108108109108105103100100102

Motorve-

hicles

3029292828303032333533333537394244455258646469727171727479838584848790919396100105109114122

113

113114

114

118118

119

123124

123

123

Farmma-chin-ery

3333323130313232333434333435373838394552586065676768687174778182848688909296100105110116124

114

117

119

120

121

125

128

Fer-til-izer

85827565616968646767666464717677787988959894991021031031019910010099100100100999910099100979397101939393969696969698989898989898101101101101101101

Inter-ests

454341393431282624.2322212120181716151616171921232426283235384246515663718090100110119128134128128128128128128128128128128128128134134134134134134134134134134134134

Taxes'

3132312925212020202121212121212122242731343638394143454952566065707477808592100111124134146134134134134134134134134134134134134146146146146146146146146146146146146

Wagerates «

2221161210121313151515151823313842464952515055596160616366687274767880828693100108119128134124124124129129129127127127131131131130130130137137137133133133138138138

Parityratios

92836758647588929378778193105113108109113115110100101 (107 (100 (9?898483828581807980787677807473747?70757575727272737171706866687070697070707068697071

(66)(80)

95)97)83)

(ft1))889ft09116

noin11511811110010?10ft10193898584ft1)88ft?

(ft?

(83(81(80)(ft?)(86)(79)(79)(79)

( 74)(80)(81)

(7R1(77(7779)76)77)

3(74(74(74)(75)(74)(74)(73)C74)(74)(75)

i Includes items not shown separately,s 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.s 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.

293


TABLE B-85.—Selected measures of farm resources and inputs, 1929-71

Year

Cropsharvested(millions

ofacres)»

Man-hours

offarmwork(bil-lions)

Index numbers of inputs (1967 = 100)

Total Farmlabor

Farmreal

estate 3

Me-chani-

calpowerandma-

chinery

Ferti-lizerand

limingmaterials

11

118668

910121212

1415171923

2324282931

3236394243

4544464854

5458627076

8090100107110

113118

Feed,seed,and

live-stockpur-

chases '

31

3026282827

2635333441

4346495353

5554565762

6468707072

7376758084

8487898990

9197100101104

109111

Miscel-laneous

1929..

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

1935.1936.1937.1938.1939.

1940.1941.1942.1943.1944.

1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.

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

19601961...1962...1963...1964...

1965.1966.1967.1968.1969.

--I

19701971 »__.

365

369365371340304

345323347349331

341344348357362

354352355356360

345344349348346

340324324324324

324303295300301

298295308303294

297310

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

7.87.47.37.06.7

6.56.6

95

9494908983

8587918992

9393959697

9593939497

9699999898

9896949495

9494949596

9798100102102

103104

302

299306295294264

275267288269270

269265271267265

249239226220212

199200191184176

170160149143139

134129123120115

1091011009694

9293

8990

9290888787

8892929394

9596959697

9795959494

93939496

9999100100101

102102

39

4038353231

3335384040

4244505355

5655616875

7984899090

9191909192

9190919293

96100100102103

103103

53

5254525248

4948524850

5252495254

5354545962

6367676564

6970697479

8082868993

9497100109101

100100

1 Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.* Includes service buildings and improvements on land.1 Nonfarm portion of feed, seed, and livestock purchases.


294


TABLE B-86.—Comparative balance sheet of the farming sector, 1929-72


Beginning ofyear

1929 .

19301931..1932..19331934

193519361937.19381939

19401941.1942..19431944

194519461947.19481949

1950195119521953. .1954

1955.. .1956195719581959

1960 . .19611962..19631964

1965196619671968.1969

1970 .1971 . . .

1972 v ..

Assets

Totat

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

238.5255.8269.5283.6298.5

309.6319.0

335.1

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 5182.5193.1202.6

208 2214.0

223.0

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

14.517.518.918.820.2

23.423.7

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

25.527 128.931.433.0

34.136.6

86

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

10.6

10 910.7

.8

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

8.68.68.49.09.6

9.79.8

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

11.912.4

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

4.74.64.54.44.2

4.24.13.93.83.7

3.73.7

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

6.06.36.67.07.3

7.78.1

25.3

Claims

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

238.5255 8269.5283.6298.5

309 6319.0

335.1

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

18.921 223.325.527.1

28 429.5

30.7

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

18.620 422.424.927.5

29 731.6

34.8

Pro-prie-tors'equi-ties

53 9

42.944 652.463.775.7

85.995 5

107 9118.6123.5

120.1138.4152 3148 2144.3

147.5150.8158 6165.4178.6

178 3177.8184 2189.3194.9

201.0214 2223.8233.2243.9

251 5257.9

269.6

» Beginning with 1961, horses and mules are excluded.'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, 1972, totaled approximately $0.9 billion.


295


INTERNATIONAL STATISTICSTABLE B-87.—U.S. balance of payments, 1946-71


Year orquarter

Merchandise u

Ex-ports Imports

Netbal-ance

Directexpend-itures

Military transactions

SalesNetbal-

Net invest-ment income

Pri-vate s

us.Gov-ern-ment

Nettraveland

trans-porta-

tion ex-pendi-tures

Otherserv-ices,net

Bal-ance

ongoodsand

serv-ices i

Remit-tances,

pen-sionsand

otheruni-

lateraltrans-fers^

Cur-rent ac-countbal-ance

1946.1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964.

1965.1966-1967.1968.

1970.--1971»..

1969: I...

11,76416,09713,26512,213

10, 20314, 24313, 44912, 41212,929

14, 42417,55619, 56216,41416,458

19,65020,10720,779122,25225,478

26, 43829, 39030,68033, 58836, 490

41,98044, 308

5,067 6,6975,973 10,1247, 5571 5,7086,874 5,339

1970: L - -II...III..IV..

1971: I...II...Ill"

- 9,081-11,176-10,838-10,975-10,353

-11,527-12,803-13,291-12,952-15,310

-14,744-14,519-16,218-17,011-18,647

-21, 496-25,463-26,821-32,964-35,830

-39,870-46,052

1,1223,0672,6111,4372,576

2,8974,7536,2713,4621,148

4,9065,5884,5615,2416,831

4,9423,9273,859624660

2,110-1,744

-493-455-799-621

-576-1, 270-2, 054-2,615-2,642

-2,901-2,949-3, 216-3,435-3,107

-3,087-2,998-3,105-2,961-2,880

-2,952-3,764-4,378-4,535-4,856

-4,851-4, 759

1,4802,024

-493-455-799-621

-576-1,270-2,054-2, 423-2,460

-2,701-2,788-2,841-3,135-2, 805

-2,752-2, 596-2,449-2, 304-2,133

-2,122-2,935-3,138-3,140-3, 341

-3,370-2, 735

750997

1,1771,200

1,3821,5691,5351,5661,899

2,1172,4542,5842,4162,658

2,8253,4513,9204,0564,872

5,2745,3315,8486,1575,820

6,3608,248

6508573

78151140166213

180404

16868

1610313297

20444063

155

- 1 1 8- 7 5 2

733946374230

- 1 2 029883

- 2 3 8- 2 6 9

- 2 9 7- 3 6 1- 1 8 9- 6 3 3- 8 2 1

- 9 6 4- 9 7 8

- 1 , 1 5 5- 1 , 3 1 2- 1 , 1 4 9

- 1 , 3 1 9- 1 , 3 8 2- 1 , 7 5 2- 1 , 5 5 8- 1 , 7 8 0

- 1 , 9 7 9- 2 , 1 8 4

114 7,807- 4 5 ; i l , 6 1 7- 2 7 | 6,518

o

62

4124

0

- 4 347727862

9646

140208174

333

6,218

1,8923,8172,356

5321,959

2,1534,1455,9012,356310

4,1265,6155,1505,9878,600

7,130

-2,922-2,625-4, 525-5,638

-4,017-3,515-2, 531-2, 481-2, 280

-2,498-2, 423-2,345-2,361-2,448

-2, 292-2, 513-2,631-2,742-2,754

___ ., .„„ '2,835315! 5,300 -2,890"" 3,081

2,8752, 910

365344497

587753

5,2202,4892,011

3,5911,586

-3,148-3, 364

4,8858,9921,993580

-2,125302

-175-1,949-321

-3451,7223,556

-2,138

1,8343,1022,5193,2455,846

4,2952,4102,139-386-899

443-1,778


30,04037,96038,40839,552

40,96442,32842,78441,844

44,12042,88045,924

-30,356-38,264-37,112-37,588

-38,912-39,324-39,968-41,276

-43,044-47,040-48,072

-316- 3 0 41,2961,964

2,0523,0042,816

568

1,076-4,160-2,148

-4,792-4,748-4,884-5,004

-4,728-5,020-4,844-4,812

-4,696-4,856-4,724

1,6281,3161,7681,344

1,0961,7881,3081,732

2,0282,1801,864

-3,164-3,432-3,116-3,660

-3,632-3,232-3,536-3,080

-2,668-2,676-2,860

6,0165,8725,7165,672

6,1845,8886,5406,828

7,5809,3087,856

152156180136

124-12-256-324

-448-632

-1,176

-1,836-1,640-1,748-1,892

-1,792-2,000-2,212-1,912

-1,708-2,440-2,404

500532504456

588532628600

848704708

1,3521,1842,8322,676

3,5244,1803,9802,680

4,680104

- 2 4

-2,520-3,356-2,772-2,996

-3,024-3,012-3,212-3,344

-3,080-3,352-3,660

-1,168-2,172

60- 3 2 0

5001,168

768- 6 6 4

1,600-3,248-3,684


296


TABLE B-87.—U. S. balance of payments, 1946-71 —Continued


Year orquarter

1946 .1947...19481949...

19501951195219531954

195519561957 .19581959

I960..1961..196219631964..

19651966..196719681969

19701971"

1969:1 . . .I I—.III . . .IV. . .

1970: 1II — .IllIV. . .

1971: 1II.Ill v.

Long-termcapitalflows,

net

U.S.Gov-ern-

ment4

-889-901-891

-1,150-1,348

-1,532-1,469-2 ,423-2 ,161-1,930

-2,029-2,456

Pri-vates

-2 ,100-2 ,181-2 ,607- 3 , 357-4,470

- 4 , 577-2 ,555-2,912

1,198- 5 0

-1,454- 5 , 928

Bal-ance

on cur-rent

accountand

long-term

capital

-1 ,15520

-979-1,262

28

-1,814-1,614-3 ,196-1 ,349-2 ,879

-3 ,039-10,162

Non-liquidshort-term

privatecapitalflows,nets

- 9 8625984875

- 4 9127456403

-496

43- 8 9838216171

s-1 ,405»- l ,200

9-6579-764

-1 ,691

-171-102-505

231-602

-545- 2 , 593

Allo-ca-

tionsof

spe-cial

draw-ing

rights

867717

Errorsand

omis-sions,net

155861

1,115717

-12435449722060

371390

1 012361260

-1 ,116-1,070-1,230

-485-1,080

-507-431-985-493

-2 ,603

-1,104-11,401

Bal-ance,net

liquid-ity,

basis

9-3,6769-2,2519-2,8649-2,509

-2 ,745

-2 ,493-2,148-4 ,685-1,610-6,084

-3 ,821- 2 3 , 439

Liq-uidpri-vate

capitalflows,nets

9 2739 9039 2149 575

1,211

1,2042,3671,2673,2518,786

-6 ,000-7 ,741

Bal-ance,officialreservetrans-actionsbasis

-3 ,403-1 ,348-2,650-1,934-1,534

-1,289219

-3 ,4181,6412,702

-9 ,821-31,180

Changesin lia-

bilitiesto

foreignofficiaagen-cies,net e

1,258742

1,1171,5571,363

67-7873,366-761

-1 ,515

7,34427, 800

Changesin U.S.officialreserveassets,net?

- 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

-880-1,187

2,4773,380


-1 ,916-2,164-2,816

-820

-1,812-2,360-1 ,248-2,692

-2,720- 2 , 520-2,128

2,496-3,740-1,524

2,564

-3,876-1 ,088

-88028

-4,012-7,180- 6 , 592

-588-8 ,076- 4 , 280

1,424

-5 ,188- 2 , 280-1,360-3 ,328

-5,132-12,948-12,404

24-1 ,488

-840-108

-460-560-460-700

-1,536-1,576- 4 , 668

868868868864

720716716

-4,368- 2 , 512-2,868

-664

-236-1 ,500-1 ,748

-932

-4 ,068- 9 , 320

-20,816

-4 ,936-12,076-7,984

652

-5,016-3,472-2,700- 4 , 096

-10,016-23,128-37,172

10, 28418,7125,268

884

- 6 , 440-2,144-5 ,600-9 ,816

-12,116204

-11,312

5,3486,636

-2 ,7161,536

-11,456-5 ,616-8 ,300

-13,912

-22,132-22,924-48,484

-5 ,156-5,440

5,460-920

10,4002,3965,964

10,616

19,40420,28843, 708

-192-1,196- 2 , 744

-616

1,0563,2202,3363,296

2,7282,6364,776

U.S.official

reserveassets,

net(end ofperiod)

20,70624,02125, 75826,024

24, 26524,29924,71423,45822,978

22, 79723,66624,83222,54021, 504

19,35918, 75317,22016,84316, 672

15,45014,88214,83015,710

1016,964

14, 48712, 131

Unad-justed

15,75816,05716, 74316,964

17,35016, 32815, 52714,487

14,34213, 50412,131

1 Excludes military grants.2 Adjusted from Census data for differences in timing and coverage.s Includes fees and royalties from U.S. direct investments abroad or from foreign direct investments in the United States.4 Excludes liabilities to foreign official reserve agencies.5 Private foreigners exclude the IMF, but include other international and regional organizations.8 Includes liabilities to foreign official agencies reported by U.S. Government and U.S. banks and U.S. liabilities to theIMF arising from reversible gold sales to, and gold deposits with, the United States.7 Official reserve assets include gold, special drawing rights, convertible currencies, and the U.S. gold tranche positionin the IMF.* Not available separately.9 Coverage of liquid banking claims for 1960-63 and of nonliquid nonbanking claims for 1960-62 is limited to foreigncurrency deposits only; other liquid items are not available separately and are included with nonliquid claims.10 Includes gain of $67 million resulting from revaluation of the German mark in October 1969." Average of the first 3 quarters on a seasonally adjusted annual rates basis.Sources: Department of Commerce (Bureau of Economic Analysis) and Treasury Department.

297


TABLE B-88.—U.S. merchandise exports and imports, by commodity groups, 1958-71


Year or quarter

1958..1959..

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

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

1970.1971..

: I . .I I -III.IV.

1970: II I . .III.IV..

1971: I . . .I I . .III.IV..

Merchandise exports»

Total, includ-ing reexports 3

Sea-sonally

ad-justed

Unad-justed

16,37516,426

Domestic exports

Total 2 3

16,21116,243

Food,bever-ages,

and to-bacco

2,6882,852

19,659 19,459 3,16720,226 19,982 3,46620,986 20,717 I 3,74322,467 22,182 i 4,18825,832 25,479 4,637

Crudemate-rialsand

fuels *

Man-ufac-tured

goodss

3,052 11,5472,996 ,11,179

26,742 26,39929,490 29,05431,030 30,64634,063 33,62637,332 36,788

42,65943, 555

42, 02542,916

7,604 7,585 7,4689,860 10,151 10,0109,862 i 9,257 9,1189,966 10,338 10,192

10,327 10,19410,798 11,21910,848 ,10,15310,757 11,094

11,239 11,11610,965 11,40511,681 jl0,9309,728 10,105

10,06011,0559,98910,922

10,96111,22110, 7829,952

4,5195,1864,7104,5924,446

5,0585,075

6991,2571,1481,342

1,1171,1451,2641,532

1,2961,2191,3361,224

3,9423,8643,3563,7754,337

4,2734,4044,7264,8655,006

6,6926,438

8771,3881,2341,507

1,4891,7251,6081,870

1,6891,6731,5681,509

12,58312,78413,66814,29716,529

17,43319,21820,84423,818126, 785

!29,34330,449

5,7917,2666,5987,129

7,2467,9326,8727,294

7,7388,0477,6497,012

Merchandise imports

General imports*

Totals

Sea-sonally

ad-justed

Unad-justed

7,6439,6359,2979,438

9,7219,86410,02310,328

10, 79811,75511,96911,050

13,39215,690

15,07314,76116,46417,20718,749

21,42725,61826,88933,22636,043

39,95245,602

7,4109,7819,1919, 662

9,45510,0699,873

10, 555

10, 51712,01211,78811,285

Food,bever-ages,

and to-bacco

3,5503,580

3,3923,4553,6743,8634,022

Crudemate-rialsand

fuels <

4,1644,615

4,4184,3344,6914,7555,029

4,013 5,4404,590 5,7184,701 5,3675,365 6, 0315,308 6, 391

Man-ufac-tured

goods!

6,2306,406

1,013,478,331,487

,512,580

1,4961,640

1,4921,7071,8961,311

6,5427,272

1,4761,6401,5831,692

1,6671,6001,6171,657

1,6261,8361,9291,880

5,3117,117

6,8636,5377,6498,0709,106

11,24414,44615,75620,62423,011

25,90630,448

4,6476,3245,9276,113

5,9986,5746,4226,913

7,0508,0937,5977,709

Grossmer-chan-dise

tradebal-

ance,sea-

sonallyad-

justed »

2,983736

4,5865,4654,5225,2607,083

5,3153,8724,141

8371,289

2,708-2,047

- 3 9225564528

606933825429

440-791-288

-1,322

1 Beginning I960, data have been adjusted for comparability with the revised commodity classifications effective in 1965.'Totals exclude Department of Defense shipments of grant-aid military supplies and equipment under the Military

Assistance Program.•Total includes commodities and transactions not classified according to kind.«Includes fats and oils.8 Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these items

Include military grant-aid shipments.* Total arrivals of imported goods other than intransit shipments.7 Exports, excluding military grant-aid, less general imports; quarterly data seasonally adjusted.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately

prior to 1969. Export statistics coverall 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.

298


TABLE B-89.—U.S. merchandise exports and imports, by area, 1965-71


Area 1965 1966 1967 1968 1969 1970 1971

Exports (including reexports and special category

shipments): Total

Developed countriesDeveloping countries

Canada.Other Western Hem isphereWestern Europe !

Eastern EuropeAsiaAustralia and OceaniaAfrica -

General imports: Total

Developed countriesDeveloping countries

CanadaOther Western HemisphereWestern Europe iEastern Europe--AsiaAustralia and OceaniaAfricaUnidentified countries 2

27,521

18,3669,015

5,6574,2669,258

1406,015

9561,229

21,427

14,1017,173

4,8584,3986,154

1374,529

455883

12

30,430

20,12010,112

6,6794,7699,891

1986,740

8051,348

25,618

17,6327,795

6,1524,7377,679

1795,277

596992

6

31,622

21,4679,960

7,1724,718

10,187195

7,1501,0181,182

26,889

18,9937,709

7,1404,6628,052

1775,349

583920

6

34,636

23,60010,821

8,0725,339

11,132215

7,5821,0261,269

33,226

24,1308,886

9,0055,143

10,139198

6,911697

1,12211

38,006

26,47911,277

9,1375,576

12,392249

8,261998

1,392

36,043

26,4609,373

10,3845,163

10,138195

8,275828

1,04612

43,224

29,87712,993

9,0796,532

14,463354

10,0281,1891,579

39,952

29,25910,442

11,0925,836

11,169226

9,621871

1,11324

44,137

30,34713,405

10,3666,484

14,190384

9,8501,1691,694

45,602

33,78111,552

12,7626,039

12,623223

11,783895

1,23741

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 ofSouth Africa. Developing countries include rest of the world except Communist areas in Eastern Europe and Asia andunidentified countries.

Source: Department of Commerce, Bureau of International Commerce.

299


TABLE B-90.—U.S. overseas loans and grants, by type and area, fiscal years, 1962—71[Millions of dollars]

Type of program and fiscalperiod

Total economic loans and grants(net obligations and loanauthorizations).!

1962-70 averageLoans..Grants .

1971Loans._Grants

Economic loans and grants toless developed countries, byprogram:2

Net obligations and loanauthorizations:

1962-70 average1971. . .

Repayments and interest:1962-70 average1971

Agency for InternationalDevelopment:

Net obligations and loanauthorizations:

1962-70 average1971


Export-Import Bank long-termloans:

Loan authorizations:1962-70 average1971

Repayments and interest:1962—70 average1971

Food for Peace:

Obligations:1962-70 average1971


Contributions and Subscriptionsto International Lending Or-ganizations:3


Peace Corps and other:*



Total

4,6012,4272,175

4,7312,5662,165

4,3634,023

8111,230

2,0881,700

111322

427669

426600

1,3191,228

133268

314255

215172

2540 #

NearEastand

SouthAsia

1,3641,032

334

909678231

1,365909

297425

626263

126178

93126

84105

633512

83138

128

54

LatinAmerica

1,143708435

677417259

1,143677

322469

501260

3059

198203

264351

150110

1329

20875

8728

1430

Vietnam

3660

366

5560

556

366556

92

281368

92

85188

00

EastAsia

564257308

883634249

495763

61147

218280

2334

46225

2780

198246

830

3313

CM CM

Africa

367157210

374206169

366374

3878

179162

2031

2965

1330

136127

417

2221

10

Europe

27023634

517504

14

12845

79104

10

1718

5945

3834

680

2453

Otherand

non-regional

52638

489

816128687

500699

55

281367

21

35

00

4945

00

22

61102

34

1 Some data are preliminary.3 Countries have been classified "less developed" on the basis of the standard list of less developed countries used

by the Ibasis, "considered 'Malta, Spain, and Yugoslavia.

> Includes capital subscriptsment Association, and the Asian Development Bank.

* Data for certain programs from Department of Commerce, Bureau of Economic Analysis.

Source: Agency for International Development (except as noted).

300


TABLE B-91 .—International reserves, 1949, 1953, and 1966-71

[Millions of dollars; end of period]

Area and country

All countries..

Developed areas..

United States.

United Kingdom

Other Western EuropeAustriaBelgiumFranceGermanyItalyNetherlandsScandinavian coun-

tries (Denmark,Finland, Norway,and Sweden)

SpainSwitzerlandOther*

Canada.

Japan...

Australia, New Zealand,and South Africa

Less developed areas 3_.

Latin America.Middle East...Other AsiaOther Africa.. .

1949

45,635

37, 245

26,024

1,752

6,455929785801960)434

537

U22

1,197

0)

1,587

8,390

2,7751,4753,395<290

1953

51, 780

41,375

23, 458

2,670

10, 500325

1,144829

1,773768

1,232

1,026150

1,768

1,484

1,902

892

1,953

10,405

3,4001,2003,8401,800

1966

72,640

60,523

14,882

3,099

35,3081,3332,3506,7338,0294,9112,448

2,3411,2533,5452,365

2,702

2,119

2,413

12,115

3,1752,9153,8802,090

1967

74,270

61,281

14,830

2,695

36,7331,4842,5906,9948,1535,4632,619

2,2361,1003,6962,398

2,717

2,030

2,277

12,990

3,4503,2954,0752,100

1968

77,330

63,246

15,710

2,422

36,1721,5102,1874,2019,9485,3412,463

2,3151,1494,2932,765

3,046

2,906

2,990

14,085

3,9353,3104,2052,465

1969

78,190

62,641

16,964

2,527

33,6181,5372,3883,8337,1295,0452,529

2,2131,2814,4253,238

3,106

3,654

2,772

15,550

4,4953,0354,8203,055

1970

92,495

74,320

14,487

2,827

44,6521,7582,8474,96013,6105,3523,234

2,5361,8175,1323,398

4,679

4,840

2,831

18,175

5,6703,1205,1454,125

1971

Sep-tember

117,330

96, 360

12,130

5,013

56,9492,2313,4247,31016,9566,6663,609

3,1212,9486,5494,135

4,992

13,384

3,892

20,970

6,0804,3155,3205,130

No-vember

99,551

12,130

5,572

57, 7222,1783,3317,494

17, 3706,4313,553

3,3293,1046,531

* 4,401

5,274

14, 836

4,017

4 6,420

~*5~300

i Not available separately.' I n 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."

301


TABLE B-92.-—U.S. reserve assets, 1946-71


End of year ormonth

194619471948.1949

1950195119521953.1954195519561957.19581959

19601961.196219631964..19651966196719681969

19701971

1970: JanFebMarApr . .MayJune

July .AugSeptOctNovDec


JulyAug..SeptOctNovDec

Total reserveassets

20,70624,02125,75826,024

24,26524,29924,71423,45822,97822,79723,66624,83222,54021,504

19,35918,75317,22016,84316,67215,45014,88214,83015,710

M6.964

14,487812,167

17,39617,67017,35016,91916,16516,328

16,06515,79615,52715,12014,89114,487

14,69914, 53414,34214,30713,81113,50413,28312,12812,13112,14612,131

8 12,167

Gold stock i

Total a

20,70622,86824,39924, 563

22,82022,87323,25222,09121,79321,75322,05822,85720, 58219,507

17,80416,94716,05715,59615,471

• 13,80613,23512,06510,89211,859

11,07210,206

11,88211,90611,90311,90211,90011,889

11,93411,81711,49411,49511,47811,072

11,04011,03910,96310,92510,56810, 50710,45310,20910, 20710, 20710,20610,206

Treasury

20,52922,75424,24424,427

22,70622,69523,18722,03021,71321,69021,94922,78120,53419,456

17,76716,88915,97815,51315,388

•13,73313,15911,98210,36710,367

10,73210,132

11,36711,36711,36711,36711,36711,367

11,36711,36711,11711,11711,11710,73210,73210,73210,73210, 73210,33210,33210,33210,13210,13210,13210,13210,132

Specialdrawingrights»

8511,100

899919920926925957

961961991991961851

1,4681,4681,4431,4431,2471,247

1,1471,0971,0971,1001,1001,100

Convertibleforeign

currencies *

11699

212432781

1,3212,3453,528

'2,781

6298 276

2,2942,3381,9501,581

9801,132

716695

1,098811640629491327256257318322

250248250259243

8 276

Reserveposition in

InternationalMonetary Fund1

1 1531 3591,461

1,4451,4261 4621,3671,1851,0441,6081,9751 9581,997

1,5551,6901,0641,035

769•863

326420

1,2902,324

1,935585

2,3212,5072,5772,5102,3602,350

2,4542.3231,9441,8231,8121,935

1,7001,7001,6801,6821,6781,428

1,433574577580582585

1 Includes gold sold to the United States by the International Monetary Fund (IMF) with the right of repurchase, whichamounted to $400 million on December 31,1971. 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 $144 million on December 31,1971. The United States has a corresponding gold liabilityto the IMF.

2 Includes gold in Exchange Stabilization Fund.3 Includes initial allocation on January 1,1970 of $867 million and second allocation on January 1,1971 of $717 million

of special drawing rights (SDR) in the Special Drawing Account in the IMF, plus or minus transactions in SDR.< Includes holdings of Treasury and Federal Reserve System.9 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.

• 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.

7 Includes gai n of $67 million resulting from revaluation of German mark in October 1969, of which $13 million representsgain on mark holdings at time of revaluation.

8 Includes $28 million increase in dollar value of foreign currencies revalued to reflect market exchange rates as ofDecember 31,1971.

Note.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is not included inthe gold stock of ths United States.

Sources: Treasury Department and Board of Governors of the Federal Reserve System.

302


TABLE B-93.—Price changes in international trade, 1963-71

[1963=100]

Area or commodity class 1963 1964 1965 1966 1967 1968 1969 1970

1971

Thirdquarter

Developed areas

Total:ExportsTerms of trade l_

United States:Exports

Terms of trade »..

Developing areas

Total:ExportsTerms of trade l .

Latin America:ExportsTerms of trade1..

Southern and Eastern Asia3:

ExportsTerms of trade L

Primary commodities: Total.

Foodstuffs

Coffee, tea, and cocoa.Cereals

Other agricultural commodities *

Fats, oils, and oilseeds..Textile fibers

WoolRubber

MineralsMetal ores..

Manufactured goods: Total «__.

Nonferrous base metals K.

100100

100100

100100

100100

100100

Unit value indexes by area

102100

10199

103101

107106

10098

103100

104101

102100

106103

10199

105100

107101

104101

108103

101100

105101

110102

103100

105100

9999

104101

111103

103101

10699

97100

108101

115103

106102

109100

103103

114102

121101

109100

115101

106104

World export price Indexes

100

100

100100

100

100100100100

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

HI106

96

102887775

103109

107

142

100

102

111102

96

100887473

102108

107

150

104

106

120102

101

101857399

104114

110

168

107

111

13899

100

109846482

109122

117

175

120102

12498

2 1132 101

2 1082 91

2 1082 103

113

113

122104

100

109825769

123125

124

161

1 Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.2 Data are for second quarter 1971.1 Excludes Japan.* Includes nonfood fish and forest products.* Data for manufactured goods are unit value indexes.

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).

303


TABLE B-94.—Consumer price indexes in the United States and other major industrial countries,1957-71

[1953 = 100]

Period

195719581959

I9601961196219631964

19651966196719681969

197019711

1969: 1 .IfIllIV.. .

1970: 1 .IIIIIIV

1971* 1IIIII| V 2

UnitedStates

91.994 495.2

96.797.798 8

100.0101.3

103.1106.0109 1113 6119.7

126.8132.3

117.0119.0120.7122.4

124.2126.2127.6129.3

130.3131.7133.0133.8

Canada

91.794 195.1

96.297.198.3

100.0101.8

104.3108.2112.0116 6122.0

126.0129.2

119.3121.6123.1123.8

125.0126.1126.7126.5

127.1128.9130.8131.1

Japan

79.378 979.8

82.687.093.0

100.0103.9

110.7116.4121.0127 5134.1

144.4152.7

130.5132.8135.8137.5

141.1142.9144.6149.2

150.5152.4155.3159.4

France

69.680 185.0

88.191.095.4

100.0103.4

106.0108.9111.8116 9124.4

131.2137.6

121.6123.2124.7126.5

129.0130.6131.9133.4

135.3137.4139.3140.7

Germany

88.190.090.9

92.194.397.1

100.0102.3

105.8109.5111.1113 1116.1

120.6126.2

115.3116.0116.0117.0

119.4120.4120.6121.7

124.4126.3127.3128.3

Italy

83.285.585.1

87.188.993.1

100.0105.9

110.7113.3116.9118.5121.6

127.6133.1

119.7120.9122.3123.5

125.4127.1128.1130.1

131.7133.2134.3135.0

Nether-lands

889091

939597

100106

111.0117.4121.4125.9135.3

141.3151.1

133.6135.7135.2136.5

138.2140.4142.5144.1

147.3151.1153.3156.0

UnitedKingdom

86.989.590.0

90.994.098.0

100.0103.3

108.2112.4115.2120.6127.2

135.3147.3

125.2127.2127.4129.0

131.5134.6136.1139.0

142.8147.9149.9150.9

i For United States, 12-month average; for all other countries, January-October average, except Italy and JapanJanuary-September average.

»October-December average for United States; October data for all other countries, except September data for Italy andJapan.

Sources: Department of Labor and Organization for Economic Cooperation and Development.

304U.S. GOVERNMENT PRINTING OFFICE :1972 O—451-688


Documents

ERP1972 Appendixes 2