Weekly Indicators of Production

Name: Weekly Indicators of Production
Creator: FRASER
Keywords: Economic Data, Economic indicators, Economic conditions, United States

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The following is plain-text output generated by Optical Character Recognition. 88th Congress 1st Session Economic Indicators SEPTEMBER 1963 Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON JOINT ECONOMIC COMMITTEE Created pursuant to Sec 5 a of Public Law 304 79th Cong j PAOL Hv DOUGLAS Illinois Chairman RICHARD BjQLLING Missouri Vice Chairman HOUSE OF REPRESENTATIVES SENATE WRIGHT PATMAN Texas JOHN SPARKMAN Alabama HALE BOGGS Louisiana J WILLIAM FULBRIGHT Arkansas HENRY S REUSS Wisconsin WILLIAM PROXMIRE Wisconsin MARTHA W GRIFFITHS Michigan CLAIBORNE PELL Rhode Island THOMAS B CURTIS Missouri JACOB K JAVITS New York CLARENCE E KILBURN New York JACK MILLER Iowa WILLIAM B WIDNALL New Jersey LEN B JORDAN Idaho JAMES W KNOWLES Executive Director MARIAN T TRACY Financial Clerk HAMILTON D GEWEHR Administrative Clerk COUNCIL OF ECONOMIC ADVISERS WALTER W HELLER Chairman GARDNER ACKLEY JOHN P LEWIS Economic Indicators prepared under supervision of FRANCES M JAMES PUBLIC LAW 120 81sT CONGRESS CHAPTER 237 IST SESSION JOINT RESOLUTION SJ Res 55 To print the monthly publication entitled Economic Indicators Resolved by the Senate and House of Representatives of the United States of America in Congress assembled That the Joint Economic Committee be authorized to issue a monthly publication entitled Economic Indicators and that a sufficient quantity be printed to furnish one copy to each Member of Congress the Secretary and the Sergeant at Arms of the Senate the Clerk Sergeant at Arms and Doorkeeper of the House of Representatives two copies to the libraries of the Senate and House and the Congressional Library seven hundred copies to the Joint Economic Committee and the required number of copies to the Superintendent of Documents for distribution to depository libraries and that the Superintendent of Documents be authorized to have copies printed for sale to the public Approved June Charts drawn by Graphics Unit Office of the Secretary Department of Commerce Economic Indicators published monthly is available at 2 5 cents a single copy or by subscription at 2 50 per year foreign 3 50 from SUPERINTENDENT OF DOCUMENTS GOVERNMENT PRINTING OFFICE WASHINGTON 25 D C Subscribers who wish to receive it at an earlier date after release may take advantage of provisions for airmail subscriptions The domestic airmail subscription price is 5 40 per year The 1962 Supplement to Economic Indicators which describes each series and gives annual data for years not shown in the monthly issues is now available at 65 cents a copy TOTAL OUTPUT INCOME AND SPENDING THE NATION S INCOME EXPENDITURE AND SAVING Gross national product rose 8 billion seasonally adjusted annual rate in the second quarter according to current estimates Personal consumption expenditures and gross private domestic investment each accounted for 3 billion of the gain and net exports of goods and services and government purchases each about 1 billion Billions of dollars quarterly data at seasonally adjusted annual rates Period Excess Gross Personal Personal Gross Disconsump saving retained private of posable or domestic investtion earnpersonal expendidisment invest 3 saving ings 2 ment tures G III IV 1962 I II III IV 1963 1 II International Business Persons Net exports of goods Excess of Foreign and services net transfers trans or of net fers by ImNet ExGovernexports ports ment exports ports I Government Net receipts Period 1901 Surplus or deficit Tax and TransPurTrans on nontax fers Total chases fers income Net goods expendi interest and receipts receipts interest of and or and subtures and sub product 5 5 accruals sidies services sidies account I IIIIV 1902 II IIIIV1963 I II Expenditures S HCi i J 5 I Persona income p 5 less persona taxes and nontax payments fines penalties etc Undistributed corporate profits corporate inventory valuation adjustment capital consumption allowances and excess of wage accruals over disbursements Does not include retained earnings of unincorporated business which are included in disposable personal income Private business investment purchases of capital goods by private nonprofit institutions and residential housing Net foreign investment with sign changed r f Gross Total Statis national tical income product or discrepor receipts ancy expenditure Government transfer payments to persons foreign net transfers by Government net interest paid by government and subsidies less current surplus of government enterprises NOTE Data for Alaska and Hawaii included beginning 1960 Source Department of Commerce 1 GROSS NATIONAL PRODUCT OR EXPENDITURE Current estimates indicate that gross national product rose 8 billion seasonally adjusted annual rate or 1 3 percent in the second quarter Adjusted for price changes the gain was about 1 percent BILLIONS OF DOLLARS BILLIONS OF DOLLARS I 1 I SOURCE DEPARTMENT OF COMMERCE Total Personal Gross Net congross Total private exports national gross sump domestic of goods tion product national and in 1962 product expend invest services ment prices itures Period t i I III IV 1962 I II III IV IOCS I II COUNCIL OF ECONOMIC ADVISERS BOO 8 SIS Billions of dollars quarter y data at C S Less lovcrnment sales These expenditures correspond closely with budget expenditures for national ii frnsr shown on p 35 J J n i s s i m f i o n n i product in current prices divided by gross national product Gove rnment j urchases of good s and services Federal State Total Total i National Other and 2 defense local seasonal ly adjust ed annua rates G NOTE Data for Alaska and Hawaii included beginning I960 Source Department of Commerce Implicit price deflator for total GNP NATIONAL INCOME The rise in national income in the second quarter amounted to 7 9 billion seasonally adjusted annual rate when the increase of 1 3 billion in corporate profits was added to previously recorded chan es in other components including the substantial rise of 6 7 billion in compensation of employees BILLIONS OF D O L L A R S BILLIONS OF DOLLARS S E A S O N A L L Y ADJUSTED ANNUAL R A T E S CORPORATE P R O F I T S A N D V E N T O R Y VALUATION ADJUSTMENT PROPRIETORS AND RENTAL INCOME X I I SOURCE DEPARTMENT OF COMMERCE CGUNOI OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Period III IV 1962 I II III IV 1963 I II Total national income Compensation of employees Proprieto ps income 154 2 ISO Includes employer contributions for social insurance Sec also p 4 See Note pn o 7 Farm Business and professional c Rental income of per J Corpora te profits and inventory va uation ac justmenl 2 Net interest Total S 47 ii fi Profits Inventory before valuation taxes adjustment S S 46 S j J SOURCES OF PERSONAL INCOME Personal income increased 0 7 billion in August to a seasonally adjusted annual rate of 464 9 billion little change in wage and salary disbursements BILLIONS OF DOLLARS BILLIONS OF DOLLARS 500 5OO 1957 I 1958 SOURCE DEPARTMENT OF COMMERCE Period June July Aug Sept Oct Nov Dec 1963 Jan Feb Mar Apr May June July Aug 4 There was Total personal income 1963 COUNCIL OF ECONOMIC ADVISERS Billions of dollars monthly data at seasonally adjusted annual rates Less Per NonagriWage Other Proprietc rs income Rental and income Divi Personal Transfer sonal con cultural tributions labor Business paysalary interest of 3 disburse income 2 Farm and pro persons dends income ments for social personal insurance income ments fessional Compensation ol employees see p 3 excluding employer contributions for social insurance and the excess of wage accruals over disbursements Employer contributions to private pension health and welfare funds compensation for injuries directors fees military reserve pay and a few other minor items 3 Personal income exclusive of net income of unincorporated farm enterprises farm wages agricultural net interest and net dividends paid by agricultural corporations 4 Preliminary NOTE Data for Alaska and Hawaii included beginning 1960 Source Department of Commerce DISPOSITION Of JPtKbUJNAJLi The saving rate rose in the second quarter to 7 4 percent as disposable personal income advanced 5 5 billion seasonally adjusted annual rate while personal consumption expenditures increased only 3 0 billion BILLIONS BILLIONS OF D O L L A R S OF DOLLARS I 60O 1957 i SEASONALLY ADJUSTED ANNUAL RATES SOURCE DEPARTMENT OF COMMERCE Personal income Less Personal taxes Equals Disposable personal income III IV 1962 I II III IV 1963 I II i 5S Period COUNCIL OF ECONOMIC ADVISERS L sss Persona consump tion expe nditures Total NonDurable durable Services goods Billions of dollars i Heasc iially n d j i i slcfl nnri ml rates s Hi MS S i i Income in current prices divided by f l i c implicit price deliutor for personal consumption expenditures on n 1 2 base Population of the United States ne ludlw firmed force abroad A n n u a l data as of J u l y 1 quarterly data centered in the middle oj the period interpolated from monthly figures Equals Personal saving Per cap ita disposable jersonal Saving as percent inco me of disposable 1962 l personal Current prices prices income percent Dol lars i i Population thou 2 sands ISO NOTE Data for Alaska and Hawaii included beginning 1060 Sources Department of Commerce and Council of Economic Advisers FARM INCOME Net farm income seasonally adjusted declined in the second quarter according to current estimates a quarter of virtually no charge BILLIONS OF D O L L A R S This Followed BILLIONS OF DOLLARS SEASONALLY ADJUSTED ANNUAL RATES REALIZED GROSS FARM INCOME I NET FARM INCOME I INCLUDING NET INVENTORY CHANGE 1963 SOURCE DEPARTMENT OF AGRICULTURE COUNCIL OF ECONOMIC ADVISERS Personal income re ceived by total arm popu lation ncome re ceived fro m farming Realize d gross From all sources Period III IV IV I90 i I II From farm sources From nonfarm sources IS 0 IS S 11 S Net t 3 farm oper itors Net inc ome per farm inel uding net inventory change 3 Cash tion ex Exclud Includreceipts penses ing net in ing net in Current 1962 from Total i ventory ventory prices prices 4 2 marketchange change ings Dollars Billions tjf dollars C C S S 35 9 Seas onallv ad usted am inal rates SO Income in current prices divided by the index of prices paid by family living items on a 1962 base Source Department of Agriculture CORPORATE PROFITS Corporate profits after taxes rose to a seasonally adjusted annual rate of 26 8 billion in the second quarter wiping out the small first quarter decline and reaching a new high BILLIONS Of DOLLARS BILLIONS OF DOLLARS I EXCLUDING I N V E N T O R V V A L U A T I O N A D J U S T M E N T S E E NOTE ON TABLE BELOW S O U R C E D E P A R T M E N T OF C O M M E R C E COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Connorate pi ofits Corjiorate pr ofits befc re taxes and invei itory valuation adjustme Qt M anufactur ing Period G G III IV 1962 I T T m 1V i II All industries o G S 50 1 Total NonDurable durable goods goods indus1 n c u s tries tries n c poral Transportation comAll muniother cations indusand tries public utilities G 7 2 7 G Corporate capital conUndistrib sumption uted profits allowances a fter axe R Corpo Corporate rate tax profits before liabiltaxes ity G G Total Dividend payments S 24 G G 5 S 1 0 S 8 5 S 0 S 2 7 S S S Profits plus capital consumption allow 2 ances S 1 9 GROSS PRIVATE DOMESTIC INVESTMENT Increased outlays for residential construction and producers durable equipment in the second quarter more than accounted for the 3 billion rise seasonally adjusted annual rate in total private domestic investment the rate of inventory accumulation was reduced almost 1 billion BILLIONS OF DOLLARS B I L L I O N S OF D O L L A R S GROSS PRIVATE DOMESTIC INVESTMENT 1963 I957 SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Total gross private domestic investment Period III IV 1902 I 11 III IV 1903 J Produce rs durable eqilipment New cons truction Total Total Residential nonfarm Revisions in series on new construction shown on p 19 bave not yet been inrorponitod into these series Other construction in this series Includes petroleum and natural gas well driliiiiL which are excluded from estimates on p 19 Change in business inv entories Fix d investnlent Otr er Total Nonfarm Total Total Non Nonfarm S I NOTE Data for Alaska and Hawaii included beginning 1960 Source Department of Commerce EXPENDITURES FOR NEW PLANT AND EQUIPMENT The August survey of plant and equipment expenditures showed that actual second quarter outlays were 350 million seasonally adjusted annual rate less than had been anticipated in May but spending plans for the third quarter were not revised Business plans call for an increase in spending in each of the last two quarters of 1963 bringing the rate in the final quarter 8 percent above a year ago l BILLIONS OF DOLLARS BILLIONS OF DOLLARS SEE NOTE 3 ON T A B L E BELOW SOURCES SECURITIES AND EXCHANGE COMMISSION AND D E P A R T M E N T OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual ratesl M anufacturi ig Period Total I I III IV 1963 I II 3 III3 IV Total Durable goods Nondurable goods G Excludes agriculture Commercial and other includes trade service financ e communica tions and construction 3 Estimates based on anticipated capita 3 expenditures as reported b y business in August 1663 Includes adjustments wh en necessary f 3r systematic endencies in anticipatory data NOTE Beginning 1959 all quarterly d ita are rounde d to nearest 50 million Transpo rtation Mining Railroads Other SO Public utilities Commercial and other Annuai tot J is the sun oj unadjuste d expendit jres it docs n ol neco sarjjy coincide with the average c 1 seasonally a Jjusted figu res These figure s do not aere with the tota s included n the gross na ional product estimates of t le Department of Commer ce prmcip illy because tl P hitter cover agricultural iiivestrnent aiid ajso certaii3 equipmei t arjd constri ft ion outlays charged to cur rent expense Sources Se mrities and I Exchange Com mission am1 Department f Commerce EMPLOYMENT UNEMPLOYMENT AND WAGES STATUS OF THE LABOR FORCE On a seasonally adjusted basis the civilian labor force total employment and unemployment all declined moderately in August MILLIONS OF P E R S O N S MILLIONS OF PERSONS SEASONALLY ADJUSTED TOTAL LABOR FORCE CIVILIAN LABOR FORCE PERCENT OF CIVILIAN LABOR FORCE PERCENT OF CIVILIAN LABOR FORCE LJI JE MP LOT VI El JT i A T F S SO JAL Y A DJU 5T e H K 1 m nI I 1 n 1 rf1 r p 96 96C 14 YEARS OF AGE AND OVER SOURCE DEPARTMENT OF LABOR Period Total labor force including armed forces I Julv Aug beptOct Nov Dce Jan Mar 74 382 A p r 74 S97 M M V i u n c Inlv 77 917 An Vb Nonagricultural Total labor Unemployment Thous ands of Unadj usted i S3 COUNCIL CF ECONOMIC ADVISERS Civili in employ ment Total i n r SS force including armed forces persons Civilisin emplo yment Civilian labor force Total Agricultural Nonagricultural years of asse and o ver Oil easonallv adjuster Unemp oyment rate pe rcent of Unem civilia Q labor for ce ploySeasonment Unad ally adjusted justed Percent S SO B S SS A S S 6S S S S S Labor force participation rate unadjusted 5 S S NOTE For definitions and coverage see Employment and Earnings ment of Labor Beginning I960 data include Alaska and Hawaii Source Department of Labor SELECTED MEASURES OF UNEMPLOYMENT AND PART TIME EMPLOYMENT The decline in fhe over all unemployment rate seasonally adjusted in August was accompanied by declines in the rate for married men and in the measure of labor force time lost However the unemployment rate for experienced wage and salary workers was unchanged 10 0 SEASONALLY ADJUSTED L A B O R FORCE T I M E LOST THROUGH UNEMPLOYMENT AND PART TIME WORK UNEMPLOYMENT RATE EXPERIENCED WAGE AND SALARY WORKERS V UNEMPLOYMENT RATE MARRIED MEN COUNCIL OF ECONOMIC ADVISERS SOURCE D E P A R T M E N T OF LABOR Uneii iplovmen t rate percen t of civilLin labor for ce in e roi P Period j Labor force time iost through Experiuncmenced Married plovment Over 40 All wage and in en l and part hours workers salary time workers work Aug Sept Oct Nov Dec 1963 Jan Fob Mar Apr Mar June Julv Aug Married Per cent Seasonall v adjuster IS S men living with thoir wives Assumes unemployed persons lost 37 5 hours a week those on part time for economic reasons lost di Terencc between 37 5 hours and actual number of hours worked 3 DiiTers from iotal nonagricullural employment p 13 which includes persons with jobs but not at work for such reasons as vacation illness bad weather and industrial disputes Persons at work n nonagri cultural ii idustries bv hours worked er week Ui ider 35 ho urs 35 40 hours Part ti me for cconomi c reasons Part ti me for economi c reasons i Usually Usually Usually fullpartfulltime 4 time time 5 Thousan ds of pers ons 14 ye ars of age and over IJnadjuste d Seasonally S I SSS Total Usually parttime adjusted li G 9 NOTE Sec note and also footnote 3 p 10 Beginning 1960 d ata include Alaska and Hawaii Source Department of Labor 11 UNEMPLOYMENT INSURANCE PROGRAMS Insured unemployment under State programs averaged about 1 4 million in August 50 000 less than in August 1962 MILLIONS OF PERSONS MILLIONS OF PERSONS WEEKLY INSURED UNEMPLOYMENT STATE PROGRAMS o 0 JAN sou RCE FEB MAR APR MAY JUNE JULY AUS SEPT OCT DEPARTMENT OF LABOR July Aug Sept Oct Nov Dec 1963 Jan Feb Mar Apr Thou sands May June July 2 Aug Week ended 1903 Aug Sept o Sta te progra ms Insured unemployment Initial claims Insurec unemploymen t as perExhaus cent of covered emplo yment tions Unad Seasonjusted ally adjusted Weekly iiverage t lousands hirlink 1 j tidrnil ami State programs for tern porary extension of benefits O m i t J u n e utr s through June 1962 expiration date of program Preliminary 12 DEC COUNCIL OF ECONOMIC ADV SERS A 11 progranis Insured Total unem benefits Covered ploypaid employ ment mil weekly lions of ment averdolage lars Period NOV Benefil uS paid Total Average weekly milcheck lions of dollars dollars Per 3ent NOTE For definitions and coverage see the 1S62 Supplement to Economic Indicators Data for Alaska and Hawaii included for all periods and for Puerto Bico since January 1961 Source Department of Labor NONAGRICULTURAL EMPLOYMENT Nonfarm payroll employment seasonally adjusted declined by 57 000 in August with reductions being concentrated in manufacturing industries At the same time employment increased significantly in services and in State and local government MILLIONS OF WAGE AND SALARY WORKERS MILLIONS OF WAGE AND S A L A R Y WORKERS 60 ALL NONAGRICULTURAL ESTABLISHMENTS CONTRACT CONSTRUCTION WHOLESALE AND RETAIL T R A D E ENLARGED SCALE ENLARGED SCALE Kl t J I i i i i i I960 I X SEASONALLY ADJUSTED DATA SOURCE DEPARTMENT OF LABOR COUNCIL Of ECONOMIC ADVISERS Thousands of wage and salary workers seasonally adjusted N onmanu facturinj I private Manufac turing 3rivate Period I July Aug Sept Oct Nov Dec1963 2 Jan Feb Mar AprMay June3 July 3 Aus Total S Total NonDurable durable goods goods Total Contract Mining construc Includes all ull and par time wage and salary workers ir nonagrieul ura establishments ho worked c nring or rec iived pay ff r any part of the pay p riod this civilian jaoor torce saown on p lu wnien mcmae proprietors seii empioyea persons and domestic servants whicb count persons as employed when they Transportation and public utilities Oil Cover nment Whole Finance Service insursale State ance and and and and miscel Federal local retail real laneous estate S I S2 ar 3 not at we rk because of industria 1 disputes and which arc bases 1 m sration of p opulation whereas the estimates i n this tabl 2 are basrH from employing establishments 2 Series revised beginning 1959 See note p 14 3 Preliminary q source i eparcinenL 01 Labor in i r n u 011 mil 13 WEEKLY HOURS OF WORK SELECTED INDUSTRIES The average workweek of production workers in manufacturing declined in August to 40 3 hours seasonally adjusted HOURS PER WEEK SEASONALLY ADJUSTED HOURS PER WEEK SEASONALLY ADJUSTED 46 I 46 DURABLE MANUFACTURING NONDURABLE MANUFACTURING CONTRACT RETAIL TR 1 DE CONSTRUCTION SS Uj t i i I I SOURCE DEPARTMENT OF LABOR COUNCIL OF ECONOMIC ADVISERS i Average hours per week 1 eeasonally adjusted Mar ufaeturing indus tries Period I Julv AUR Sept Oct Nov Dec Jan Feb Mar Apr Mav June i Julv Alia Durable goods All Nondurable goods Source Department of Labor 14 Contract construction Retail trade AVERAGE HOURLY AND WEEKLY EARNINGS SELECTED INDUSTRIES Average hourly earnings of production workers in manufacturing declined to 2 43 in August earnings declined by 81 cents to Average weekly DOLLARS 120 AVERAGE HOURLY EARNINGS AVERAGE WEEKLY EARNINGS DURABLE GOODS INDUSTRIES t K V r I960 196 SOURCE DEPARTMENT OF LABOR 1963 COUNCIL OF ECONOMIC ADVISERS For production workers or nonsupervisory employees Period Manufsicturing iiidustries Contract conRetail Nontrade Durable durable strucAll goods tion goods I July Aug Sept 2 39 Oct 2 39 Nov Dec Jan 2 43 Feb 2 43 Mar 2 44 Apr 2 44 May 2 45 June 2 46 July4 2 45 Aug Earnings 1 Earnings a Manuf icturing iiidustries Contract conNonDurable durable strucAll goods tion goods in current prices adjusted to exclude overtime and interindustry shifts in current prices divided by the consumer price index on a 1962 base Series revised beginning 1959 See note p Manufac turing indus lies Adjusted Average hourly weekly Retail earnings earntrade ings prices 2 Aver age weekl y earnings current prices Avera ge hourly earnings current prices US Preliminary Source Department of Labor PRODUCTION AND BUSINESS ACTIVITY INDUSTRIAL PRODUCTION The industrial production index seasonally adjusted dropped 1 point in August to The decline was in consumer goods and materials INDEX SEASONALLY ADJUSTED 140 INDEX SEASONALLY ADJUSTED 150 r TOTAL COUNCIL OF ECONOMIC ADVISERS SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Total industrial production Period June July Aug Sept Oct Nov Dee 1963 Jan Feb Mar Apr May June Julv Aug Preliminary 16 IOO i seasonally adjusted Industry Ma rket Fi nal produ 3tS M inufactur ng Total NonDurable durable Mining Utilities Total Consumer goods Equipment Source Board oi Governors ol tbe Federal Reserve System Materials PRODUCTION OF SELECTED MANUFACTURES Output of primary metals and transportation equipment declined in August or no change INDEX SEASONALLY ADJUSTED Most other manufactures showed little INDEX SEASONALLY ADJUSTED t4O I SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 1963 COUNCIL OF ECONOMIC ADVISERS seasonally adjusted Nc ndurable manufactu res Durafc le manufcictures Primary metals June July Aug Sept Mar Apr 1 Preliminary Oct Nov Dec 1963 Jan Feb May June July Aug 1 FabriTranspor Lumber Textiles Paper Machin tation and cated apparel and ery prodmetal equipand printleather products ment ucts ing Chemicals Foods petrobeverleum and ages and rubber tobacco Source Board ol Governors of the Federal Reserve System JIG IK 17 WEEKLY INDICATORS OF PRODUCTION Production of steel and autos declined in early August but began to pick up later in the month indicators of production increased MILLIONS OF TONS MILLIONS OF SHORT TONS Most other weekly DAILY AVERAGE 14 0 SOURCES AMERICAN IRON AND STEEL INSTITUTE DEPARTMENT OF THE INTERIOR EDISON ELECTRIC INSTITUTE AND WARD S AUTOMOTIVE REPORTS Period Weeklv average July Aug Sept Oct Nov Dec 1963 JanFeb Mar Apr May June JulyAugWeek ended 1903 Aug Sept J Bituminous Freight Paperboard lilectric Cars and trucks Steel produced power coal mined produced assembled thousands loaded Index distributed thousands thousands thousands Thousands of net millions of of short Total Cars Trucks of tons of cars tons 100 kilowatt hours tons J Daily average Includes d ita for Alaska i Preliminary 18 COUNCIL OF ECONOMIC ADVISERS Sources American Iron and Steel Institute Edison Electric Institute Department of the Interior Association of Amer can Eailroads National Paperboard Association and Ward s Automotive Keports NEW CONSTRUCTION Expenditures for new construction seasonally adjusted rose slishtly in August despite a decline in outlays for residential construction felLLIONS OF DOLLARS BILLIONS OF DOLLARS TOTAL NEW CONSTRUCTION 20 O l I I I I I I I i i i i I i i I i i I I i I I i I i i I i i 1 i i i I I I i i i I i i I I i l i i i i i I I I I I I I i I 1 i i I i I I i i I i I I I I I 0 SEE NOTE 3 IN TABLE BELOW SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Pr vate Total new construc Period expenditures new series Resi dential noiifarm Total Total New housing units CommerAdditions cial and and al industrial terations Billions of dollars Other Federal State and local Sea son ally adj isted annuo I rates 1962 July Aug Sept Oct Nov Deo 1S63 Jan Feb Mar Apr May June July Aug a includes nontoousekeeping residential construction not shown separately Compiled by F W Bodge Corporation and relates to 48 States In addition to major differences between old and new series data for Alaska and Hawaii are included beginning January 1959 Constnictiori contracts 2 CommerTotal value cial and index industrial floor space 100 millions of square feet Seasonally Seasonally adjusted adjusted annual rates Preliminary Sources Department of Commerce and F W Dodge Corporation 19 NEW HOUSING STARTS AND APPLICATIONS FOR FINANCING In July private housing starts declined 3 percent to a seasonally adjusted annual rate of 1 5 million units and the number of new units authorized also declined M I L L I O N S OF UNITS 2 5 MILLIONS OF UNITS SOURCES DEPARTMENT OF COMMERCE FEDERAL HOUSING ADMINISTRATION FHA VETERANS ADMINISTRATION V A J COUNCIL OF ECONOMIC ADVISERS Thousands of units Hoi sing star ts Total private Total and private public includ including ing farm farm Period s 19593I960 s 1961s G2 3 JulyAue Sept Oct Nov Dec 1903 T a n Feb Mar Apr May s June6 Julv S SO Pri ate nonfa rm Total Onefamily Two or more families Total private including farm AlIK 1 Authorized by issuance of local building permit Units re presented by mortgage applications for new home 3 construction Census dntn have been revised beginning 1959 Tor details see Housing Starts C20 50 J u l y Propose d home constr uction New Priv ate nonf arm private housing Applica Requests Gover nment units tions for for VA FHA appraisrograms authorTotal home p ized1 commitals 2 ments 2 FHA VA Se isonally adjusted annual ra tes s Reflects new application fee scheduled May 1 Preliminary NOTE Data for Alaska and Hawaii are included in all VA and FHA series and Census series beginning with the new series in 1959 Sources Department of Commerce Federal Housing Administration CFHA and Veterans Administration VA TRADE SALES AND INVENTORIES Preliminary estimates indicate that August retail sales seasonally adjusted were maintained at their July level owing to increased sales of nondurable goods The revised series shows a decline in retail sales in May and a rise of over 1 percent in June and again in July BILLIONS OF DOLLARS BILLIONS OF DOLLARS WHOLESALE TRADE INVENTORIES M i l l I I I I I I 1 t I I t I 1I I I i I M I I 1 i I 1 I 1 I I 1 I INDEX IOO I960 SEASONALLY ADJUSTED SOURCES DEPARTMENT OF COMMERCE Who esaie Sales Period Sales Inventories Total Re ail 3 Depart m nt stores Ii iventorie NonDurable durable goods goods stores stores Total 2 NonDurable durable goods goods stores stores Billions o f dollars seasonalh adjusted Jur p Julv Aug Sept Got Nov Dec 1963 Jan Feb Mar Apr May June 77 July Aug Monthly average for year and total for month 3 Book value end of period seasonally adjusted IS S Beginnins January I960 data include Alaska and Hawaii Daily average End of period except annual data which are monthly averages COUNCIL OF ECONOMIC ADVISERS AND BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Sales Inventories 5 Index seasonally adjusted Based on retail value Preliminary SeasonaS3y adjusted data have been revised beginning 1953 For details SIT Monthly Retail Trade July 1963 Sources Department oi Commerce and Board o Governors of the Federal Reserve System MANUFACTURERS SALES INVENTORIES AND NEW ORDERS Manufacturers sales rose in July Inventories continued along their recent upward trends New orders for durable goods increased although remaining below sales preliminary data indicate they dropped 2 Vi2 percent in August BILLIONS OF DOLLARS BILLIONS OF DOLLARS MANUFACTURERS INVENTORIES 60 TOTAL 40 DURABLE GOODS MANUFACTURERS NEW ORDERS 30 NONDURABLE GOODS 20 I I960 SEASONALLY ADJUSTED SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Manu acturers sales Period Total June July Aug Sept Oct Nov Dec 1963 Jan Feb Mar Apr 4 May June 44 July Aug NonDurable durable goods goods Ma nufacture rsj new orde rs 1 Manufact urers inv entories 2 Durah le goods Total Durable goods Nondurable goods Billions of dollars seasonal y M o n t h l y aver ape lor year and total ior month Hook value end o period seasonally adjusted For annual periods ratio of vei ehted average inventories to average monthly sales for m o n t h l y data ratio of inventories at end ot month to sales for month Total adjuste i Total NonMachinery durable and goods equipment fi Preliminary Not charted Source Department of Commerce Manufacturers inventorysales ratio MERCHANDISE EXPORTS AND IMPORTS In July exports seasonally adjusted again decreased slightly as imports showed a slight rise declined to about 310 million B I L L I O N S OF DOLLARS 2 5 The trade surplus B I L L I O N S OF D O L L A R S 2 5 SEE NOTE I BELOW SOURCES DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS f Millions of dollars M erchandi se imports M erchandi se expo rts Period Total includ1 Domest mg ree ports Season Unad Total Foodally ad justed stuffs justed Monthly average June July Auo Sept Oct Nov Dec 1963 J a n Feb Mar Apr May June July S S Gener al 2i nic expor ts por ts Indus Finished manu Season Unadtrial mateally adfactures justed justed rials U nadjust ed Total exports less Department of Defense shipments ol grant aid military supplies and equipment under the Military Assistance Program 23 Imports for immediate consumption plus entries into bonded warehouses Imports for immediate consumption plus withdrawals for consumption from bonded warehouses i SGS Merchandise trade Impc rts for consum ption Indus Finished surplus seasonFood trial Total stuffs mate manu ally adfacjusted rials tures U nadjust ed I n se G6 4 jr a 10 U S EXPORTS AND IMPORTS OF GOODS AND SERVICES A rise in exports of goods and services which exceeded a rise in imports in the second quarter raised the surplus or goods and services fo 6 0 billion seasonally adjusted annual rate BILLIONS OF DOLLARS BILLIONS OF DOLLARS SEASONALLY ADJUSTED ANNUAL RATES L EXPORTS OF GOODS AND SERVICES IMPORTS OF GOODS AND SERVICES 10 COUNCIL OF ECONOMIC ADVISERS SOURCE DEPARTMENT OF COMMERCE Millions of dollars quarterly data at seasonally adjusted annual rates Expo rts of goo ds and sei vices Impo rts of goo ds and se vices Period Total III IV 1962 I II III IV 1963 I 2 II 1 Adjusted Merchandise vestnlents Other Military sales Private Govern services ment from customs data for differences in timing and coverage Preliminary 24 Total Merchandise Source Department of Commerce Balance Military Other on goods expend services and itures services U S BALANCE OF INTERNATIONAL PAYMENTS The over all payments deficit in the second quarter was 5 billion seasonally adjusted annual rate Government grants and capital were up by more than 1 billion and private short term capital outflows rose abruptly BILLIONS OF DOLLARS 20 10 BILLIONS OF DOLLARS 20 OVER ALL BA LANCE SURPLUS C R DEFICIT LJ LJULJ UULJ U uuuLJ u i i i 1 1 1 i i i i I960 uy u LJ U LJ i i III IV 1962 I II III IV 1963 I II Direct investments Longterm portfolio Shortterm Foreign capital N Quai terly tota Is unadjv sted I Other than liquid funds Equals changes in U S gold and convertible currencies and liquid liabilities to foreigners Remittances and pensions not shown separately in this table are included in over all balance and amounted to 736 million in 1962 3 Minus indicates increase in liabilities To International Monetary Fund IMF and foreign central banks and governments 6 To foreign commercial banks and other international and regional institutions not listed in footnote 4 and other foreigners Over all balanc surplus or deficit Liquid 1iabilities 3 Gold To monand con etary Total vertible author To other Total 2 curities foreign and rencies holders 5 institutions Unrecorded transactions Oil Season ally adjus ted annuail rates i 1963 COUNCIL OF ECONOMIC ADVISERS Millions of dollars U S pr ivate capi tal net Period i 1962 SOURCE DEPARTMENT OF COMMERCE Balance Government on grants goods and and services capital net i Preliminary Total at end of second quarter was 15 955 million of which 15 829 million M U S gold stock The decline in gold stock during quarter was 117 million NOTE Data exclude military aid and U S subscriptions to I M F Source Department of Commerce 25 PRICES CONSUMER PRICES Consumer prices rose 0 5 percent in July following a 0 4 percent rise in June to increases in food prices 1957 I 1958 The new record high was primarily due S O U R C E D E P A R T M E N T OF L A B O R 1963 COUNCIL OF ECONOMIC ADViSERS Services Co mmodities All items Period C2 June July Aug Sept Get Nov Dec Jan Feb Mar Apr May June July Source Department of 26 Labor IOC All commodities C 103 S Comm odities let s food Food AH S 104 N Durable G Nondurable S All services K S Rent Services less rent WHOLESALE PRICES Wholesale prices declined 0 2 percent in August following three consecutive monthly increases Prices of farm products and processed foods showed declines while industrial nonfarm commodities were unchanged INDEX INDEX I957 59 IOO 90 SOURCE DEPARTMENT OF LABOR Period Mar Apr May June July Aug Sept Got Nov Bee 1963 Jan Feb Mar Apr Mav June Julv 3 Aug COUNCIL OF ECONOMIC ADVISERS All commodities Commodi lies other 1 han farm jroducts aiid foods ii idustrials Consuraer finIndus Indus ProducProcFarm ished g sods exAll intrial trial in er finprodessed cludin g food dustricrude termedi ished foods ucts DurNonals 1 mate ate ma goods 2 terials able durable rials S o or IOC S i 100 S KM Preliminary Source Deportment of Labor PRICES RECEIVED AND PAID BY FARMERS During the month ended August 1 5 both the index of prices received and prices paid by farmers decreased 1 percent The parity ratio fell 1 point to 78 INDEX INDEX PRICES PAID INTEREST TAXES AND WAGE RATES PRICES RECEIVED ALL FARM PRODUCTS RATIO 1 RAT PARITY RATIO V I960 y RATIO OF INDEX OF PRICES RECEIVED TO INDEX OF PRICES PAID INTEREST TAXES AND WAGE RATES ON BASE SOURCE DEPARTMENT OF AGRICULTURE COUNCIL OF ECONOMIC ADVISERS Prices i eceived by armers Period All farm products July Aug 15 Sept Oct 15 Nov 15 Dec Jan 15 Feb 15 Mar 15 Apr 15 May 15 June 15 July 5 Aii Crops Percent ape ratio of index of prices received by farmers to index of prices paid lm JS t taxes and wafro rates OH base 28 Price 3 paid by fa rmers Livestock All items interest and taxes and products wage rates Index Family living items Source Department of Agriculture Production items Parity ratio MONEY CREDIT AND SECURITY MARKETS MONEY SUPPLY In August the money supply declined 200 million and time deposits rose 1 2 billion on a seasonally adjusted basis BILLIONS OF DOLLARS BILLIONS OF DOLLARS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED MONEY SUPPLY TIME DEPOSITS AT ALL COMMERCIAL BANKS I9S9 1963 COUNCIL OF ECONOMIC ADVISERS SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Averages of daily figures billions of dollarsl M oney supf iy M oney supr iy Period Total Dec Dec Dec Dec Dec Dec Dec Aug Sept Oct Nov Dec 1963 J a n Feb Mar Apr May June July Aug 2 First half 2 Second h a l f 3 2 Deposits at all commercial banks Preliminary Currency outside banks Seasonalli Demand deposits Time deposits adjustec Total S Currency outside banks Demand deposits Unac justed US ll i 3 U S Time deposits KKi I0 i 9 107 ti Government demand deposits J 5 S C NOTE See note p 31 Source Board of Governors of the Federal 29 SELECTED LIQUID ASSETS HELD BY THE PUBLIC Most liquid assets continued to rise in August BILLIONS OF DOLLARS BILLIONS OF DOLLARS SEASONALLY ADJUSTEO ENO OF MONTH 500 TOTAL SELECTED LIQUID ASSETS 400 SAVING TYPE 300 ASSETS DEMAND DEPOSITS AND CURRENCY BASSETS OTHER THAN DEMAND DEPOSITS AND CURRENCY SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM I 1963 COUNCIL OF ECONOMIC ADVISERS Billions of dollars seasonally adjusted End of period July Aug Sept Oct Nov Dec 1963 Jan Feb Mar A pr Mav3 June 33 Julv 3 V P 1 Total selected liquid assets S 464 fi S Demand deposits and currency Io3 o C S 146 2 Time c eposits Commercial banks S OS Agrees in concept with money supply p 29 except lor deduction of demand deposits held by mutual savings bank and savings and loan associations Data for last Wednesday o month Kxciudes holdings o Government agencies and trust funds domestic eommerciai and mutual savings banks Federal Reserve Panks and beginning February I960 savings and loon associations 30 Mutual savings banks u Postal Savings System i 5 o Savings and loan shares U S Government savings bonds Preliminary NOTE See note p 31 Source Board ol Governors o the Federal Reserve System U S Government securities maturing within BANK LOANS INVESTMENTS DEBITS AND RESERVES Commercial bank loans rose 200 million seasonally adjusted in August BILLIONS OF D O L L A R S BILLIONS OF DOLLARS i SEASONALLY ADJUSTED SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM END OF MONTH All comm ercial banks s easonally adjusted da ta Total Investr lents Loans loans excluding and inter U S Gov Other investsecuribank ernment ties securities End of period July Aug Sept Got Nov 5 Dec 1963 Jan Feb Mar Apr 5 5 May June 55 Julv 5 AuK Billions of dollars Member banks are all national banks and those State banks which have taken membership in the Federal Reserve System 2 Commercial and industrial loans and prior to 1956 agricultural loans Series revised beginning October 1955 July 1958 July 1959 and April 1961 3 Debits durinp period to demand deposit accounts except interbank and U S Government Prior to 1955 relates to 344 centers outside New York City Averages of daily figures Annual data are for December COUNCIL OF ECONOMIC ADVISERS Weeklv reporting member banks Business loans 2 Bank debits outside New York City 343 centers seasonally adjusted A 1 member banks 4 Total reserves Borrowings at Free Excess Federal reserves Reserve reserves Banks rates 3 Millions o f dollars SS S 021 S 055 S L L g Preliminary NOTE Between January and August 1959 series for all commercial banks expanded to include data for all banks in Alaska and Hawaii Data for all member banks include Alaska and Hawaii beginning 1954 and 1959 respectively Source Hoard of Governors of the Federal Reserve System 31 CONSUMER AND REAL ESTATE CREDIT In July total consumer credit outstanding rose about 470 million compared to a rise of almost 260 million in July 1962 BILLIONS OF DOLLARS BILLIONS OF DOLLARS END OF MONTH TOTAL CONSUMER CREDIT OUTSTANDING SEASONAL LY ADJUSTED ENLAF GED SCALE INS fALMENT CREDIT EXTENDED u S INSTALMENT r CREDIT REPAID I I SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Period COyNCIL OF ECONOMIC ADVISERS f Millions of dollars I Consumer credit outstandin g end of p eriod Consum er instalme nt credit ex tended imadi usted and r spaid seasonally adji isted Instalment Total Automofc ile paper NonAutomoTotal Total bile Personal instal Extended Repaid Extended Repaid ment 2 paper loans Jun Jul Aug Sep Oct 60 626 Nov Deo Jan Feb Mar Apr May June 65 364 July Also includes other consumer goods paper and repair and modernization loans not shown separately 3 Consists of single payment loans charge accounts and service credit 1 End of period unadjusted 32 I Mortgage debt outstanding nonfarm 1 to 4houses NOTE Data for Alaska and Hawaii included beginning January and August I960 respectively Sources Board of Governors of the Federal Reserve System and Federal Home Loan Bank Board BOND YIELDS AND INTEREST RATES The yield on 3 monfh Treasury bills rose sharply in August but declined slightly in early September There were small divergent changes in bond yields in August however Government bond yields rose in early September PERCENT PER ANNUM PERCENT PER ANNUM 1957 COUNCIL OF ECONOMIC ADVISERS Period I July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Week ended 1963 Aug Sept Percent per annuml U S Gove rnment secu rity yields High grade municipal 3 month bonds 3 5 year Taxable Standard 3 2 Treasury bonds issues bills i Poor s Selected note and bond issues Rate on new issues with n period Series includes April 1953 to date bonds due or callable 0 years and after Weekly data are Weclnes figures day 5 Data for first of the mon th based on the maximum nermi ssible interest rat p 5K percent since May 1961 and 25 year mor tgages paid in 12 years Corpora e bonds Moo dy s Aaa Baa Prime commercial paper 4 6 months FHA new home mortgage yields Not charted Sources easury Departrnent Board of Crovernors of tile Federal KCSITVH System Fee eral Housing Ac ministration Sta ndard Poor s CJorponil Ion ui i Moody s In cestors Service OO OO COMMON STOCK PRICES YIELD AND EARNINGS Stock prices rose in August and early September when they reached a new high INDEX INDEX BO COMPOSITE PRICE INDEX FOR 500 COMMON STOCKS MONTHLY x t v X J WEEKLY DIVIDEND YIELD ON COMMON STOCKS f BV f L i i r t i t i L i i i i i r t t t t i t r 3 ri i i i i i i 2 TIO RA PRiCE E ARNINGS RATIO ON CC MMON STOCKS I I95S p l i I SOURCE STANDARD AND POOR S CORPORATION July Aug Sept Get Nov Dec 1963 Jan Fob Mar Ar r Mav June Julv Aug Week ended 1963 Axis 9 1 i Sept 6 13 S HO G i MS S i I0 COUNCIL OF ECONOMIC ADVISERS Securities and Exchange Commission price index M anufactur nR ComTransUtiliDuraNonportaposite ties Total index ble durable tion Period 1 1 IS i in P S f MO R S 12S ISO Standard and Poor s common stock data Price ndex 2 DiviPrice dend Indus4 yield 3 earnings Total trial percent ratio GO OS OS S FEDERAL FINANCE FEDERAL ADMINISTRATIVE BUDGET RECEIPTS AND EXPENDITURES The budget deficit for the first 2 months of fiscal 1964 was 5 3 it was 5 1 billion billion In the corresponding period of fiscal 1963 BILLIONS OF D O L L A R S 3JLUONS OF D O L L A R S I NET BUDGET RECEIPTS NET BUDGET EXPENDITURES f j El BUDGET SURPLUS OR D E F I C I T ENLARGED S C A L E FIRST 2 o PRELIMINARY SOURCES TREASURY DEPARTMENT AND BUREAU OF THE OUCGET Fiscal Fiscal Fiscal Fiscal Fiscal Fiscal 1962 year 1958 year 1959 year 1960 year 1961 year 1962 year 1963 3 Mav June Julv Aug Sept Oct Nov Dec 1963 Jan Feb Mar Apr May June July Aug Cumulative totals first 2 months Fiscal vcar 1963 Fiscal vear IS 5 C SI Billions of dollars Net budg et cxpenditi res N itional defe ise J Department of Military Total Total Defense assistance military functions SO l i i SI S S7 S j S S i S S o S 16 2 In addition to items shown also includes atomic en ergy and defend e related services includes guaranteed securities held outside the Treasury Not al of total sho vi is subject lo statutory debt limitation COUNCIL OF ECONOMIC ADVISERS i i t FISCAL Y E A R S Net budget receipts Period MONTHS S 4 S Budget surplus Public debt or end of period 2 deficit j f Prelimin ary NOTE Total budget receipts and expen ditures exclude ccrtain intn E v rn mental tran sactions Sources reasury Dcpar nicnt and Bure mi of tlie Budget 33 FEDERAL CASH RECEIPTS FROM AND PAYMENTS TO THE PUBLIC In fiscal 1963 cash payments exceeded cash receipts by 4 1 billion estimate and 1 7 billion below the fiscal 1962 cash deficit This is 4 2 billion below the January 1963 BILLIONS OF DOLLARS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 35 SEASONALLY ADJUSTED 35 EXCESS OF CASH RECEIPTS W u w EXCESS OF CASH AYMENTS uu ri i ULIUU y u u u u t j I I l i I i 1 i 1961 I960 CALENDAR YEARS i i i i 1 SOURCES TREASURY DEPARTMENT AND BUREAU OF THE BUDGET COUNCIL Of ECONOMIC ADVISERS Billions of dollars Cash receipts from the public Period Fiscal year Calendar year Quarterly total calendar years IV J HiL I 111 III IV i J wJirninnry 36 Cash payments to the public Excess of re Cash receipts ceipts or from the payments public Unadjusted Excess Cash pay ceipts of re or ments to payments the public G Serisonally adjus ted 24 C G Sources Treasury Department and Bureau of the Budget FEDERAL BUDGET NATIONAL INCOME ACCOUNTS BASIS On a revised naHonal income accounts basis Federal Government expenditures rose less than receipts in the second quarter resulting in a drop in the deficit to 3 0 billion seasonally adjusted annual rate BILLIONS OF DOLLARS BILLIONS OF DOLLARS 12O I2O SURPLUS np nr DEFICIT I I rcr I 20 I SEASONALLY ADJUSTED ANNUAL RATES SOURCE DEPARTMENT OF COMMERCE 1961 CALENDAR YEARS COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Federal 3overnment receipts Period Personal Corporate Total tax and profits nontax tax receipts accruals Fiscal vear Calendar vear IV II III 105 6 IV II Total NOTE Data for Alaska and Hawaii included beginning 1960 GrantsSubsidies Surplus in aid Purless or current deficit Net chases Trans to State interest surplus and of goods fer pay of Govt and ments paid local entergoverservices prises ments Indirect Contribusiness butions tax and to social nontax insuraccruals ance Federa 1 Governinent expenditures Source Department of Commerce A i o i 0 ty r r c l i i i li o 37 UNITED STATES GOVERNMENT PRINTING OFFICE PENALTY FOR P R I V A T E USE TO A V O t D PAYMENT OF POSTAGE 30O GPOI DIVISION OF PUBLIC DOCUMENTS WASHINGTON 25 D C OFFICIAL BUSINESS First Class Mail Contents TOTAL OUTPUT INCOME AND SPENDING page The Nation s Income Expenditure and Saving Gross National Product or Expenditure National Income Sources of Personal Income Disposition of Personal Income Farm Income Corporate Profits Gross Private Domestic Investment Expenditures for New Plant and Equipment EMPLOYMENT UNEMPLOYMENT AND WAGES Status of the Labor Force Selected Measures of Unemployment and Part Time Employment Unemployment Insurance Programs Nonagricultural Employment Weekly Hours of Work Selected Industries Average Hourly and Weekly Earnings Selected Industries PRODUCTION AND BUSINESS ACTIVITY Industrial Production Production of Selected Manufactures Weekly Indicators of Production New Construction New Housing Starts and Applications for Financing Trade Sales and Inventories Manufacturers Sales Inventories and New Orders Merchandise Exports and Imports U S Exports and Imports of Goods and Services U S Balance of International Payments PRICES Consumer Prices Wholesale Prices Prices Received and Paid by Farmers MONEY CREDIT AND SECURITY MARKETS Money Supply Selected Liquid Assets Held by the Public Bank Loans Investments Debits and Reserves Consumer and Real Estate Credit Bond Yields and Interest Rates Common Stock Prices Yield and Earnings FEDERAL FINANCE Federal Administrative Budget Receipts and Expenditures Federal Cash Receipts from and Payments to the Public Federal Budget National Income Accounts Basis NOTE Detail in these tables will not necessarily add to totals because of founding Data for Alaska and Hawaii are not included unless specifically noted Unless otherv ise stated all dollar figures are in current prices For sale by the Superintendent of Documents U S Government Printing Office Washington D C 20402 Price 25 cents per copy 2 50 per year 3 50 foreign U S GOVERNMENT PRINTING OFFICE 963

Weekly Indicators of Production

DATE: September 1963

PART OF:

Economic Indicators : September 1963

AUTHOR:

Council of Economic Advisers (U.S.)

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Council of Economic Advisers (U.S.) , United States. Congress. Joint Committee on the Economic Report, 1946-1956 and United States. Congress. Joint Economic Committee, 1956-. "Weekly Indicators of Production," in Council of Economic Advisers (U.S.) , United States. Congress. Joint Committee on the Economic Report, 1946-1956 and United States. Congress. Joint Economic Committee, 1956-. "September 1963," Economic Indicators (September 1963) : 20-20. https://fraser.stlouisfed.org/title/1/item/499/toc/112880 , accessed on December 8, 2019.

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Economic Data