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BUSINESS STATISTICS
EFFECTIVE with this issue of the SURVEY, the format of the Business Statistics Section (pages prefixed by the letter "S") has
been changed to include additional columns containing recent annual averages (or totals). To accommodate this change within
the space allotted, it was necessary to omit some series and to modify certain units of measurement. Retention of averages for
the latest years in the monthly SURVEY should improve the usefulness of the magazine for current economic analyses. Annual
averages from 1939 through 1960 appear in the recently released 1961 biennial BUSINESS STATISTICS volume. It should be noted
that the annual averages shown here incorporate all revisions issued to date and may differ, in some instances, from those in the
1961 BUSINESS STATISTICS volume, which was sent to press last June. Where differences occur, the revised average is so indicated.
*****
The table providing inventory-sales ratios for manufacturing and trade firms, formerly shown in the front section of the
magazine, will now be shown in the Business Statistics Section (see p. S-5).

Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS

1958 | 1959

II

Annual total

1959

1958

1960

III

IV

I

II

1960
III

IV

1961

IV

III

II

I

I

II

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
417. 1

360.2

370.1

381. 7

390. 7

405. 2

399. 4

402.8

413.5

419. 2

419. 0

416.5

412. 2

426. 0

278.4

293.7

253.4

258.9

263.7

270. 6

280. 0

280.5

282. 4

290.2

294.6

296. 0

294.0

292. 6

300. 2

239.8
196.6
9.8
33.5

258.5
213 2
9.9
35 4

271.3
223. 0
9.9
38.5

236.3
193.5
9.7
33.2

241.6
197.6
10.0
34.0

245.8
201.5
9.9
34.4

251.4
206. 7
9.9
34.8

260. 1
215.0
9.9
35.3

260.3
214.8
9.9
35.7

261.9
216.0
9.8
36.1

268.3
221. 4
9.8
37.1

272.4
224. 6
9.8
38.0

273.2
224.2
9.9
39. 1

271.3
221.6
10.0
39.7

270.1
219 7
10.1
40 3

277
226
10
41

do__

17.3

20.0

22.4

17.1

17.3

17.8

19.2

19.9

20.2

20.5

21.9

22.2

22.7

22.7

22.5

22 9

do
do
do
do
adjustbil.$

46 1
32.5
13 5
12.2

46 3
35.0
11 3
11.9

48.2
36.2
12 0
11.7

45.6
32.1
13.5
12.3

46.2
32.7
13.4
12.2

46.5
33.5
12.9
12.1

46.6
34.1
12.5
12.0

46.7
35.2
11.5
11.9

45.9
35.3
10.6
11.8

46.1
35.3
10.8
11.7

46.3
35.8
10. 5
11.7

48.6
36. 4
12.3
11.7

48.7
36.3
12.4
11.7

49.0
36.3
12.7
11.7

48 9
36.0
12 9
11 5

49
36
12
11

37.2

46.4

45.1

34.4

37.9

43.8

45.3

50.2

44.4

45.5

47.4

45.9

44.1

42.9

40 0

45 5

46.8
23.1
23.7
-.5

45.0
22 3
22.7
.0

34.1
17.0
17.1
.3

38.2
19.0
19.1

44.7

46.1
22.8
23.4
-.9

51.5
25.4
26.1
— 1.3

44.8
22.1
22 7
-.4

44.9
22.1
22 7
7

48.1
23.9
24.2

46.3
23.0
23.3
-.4

43.2
21.4
21.7
.9

42.6
21.1
21.4
.3

39 6
19.6
20 0
.4

45 2
22. 4
22 8
.3

bil. $

Wages and salaries, total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, totalcf1
Business and nrofessionalcf
Farm
Rental income o f persons
_ _ _ _ _ _
Corporate profits and inventory valuation
ment, total
..
Corporate profits before tax, total
Corporate profits tax liability.
Corporate profits after tax
_
Inventorv valuation adjustment

257. 1

do
do
do
do

Compensation of employees, total

367.4

do

National income, total..

do
_.do
do
do

37.4
18.6
18.8

399. 6

9

22.4
-.9

3
0
1
2

2
3
9
5

do

14 8

16 6

18 4

14 5

15 0

15 6

16 2

16 4

16 7

17 0

17 8

18 3

18 6

18 9

19 °

19 6

do

444. 5

482.8

504.4

437.2

447.0

460. 6

472.2

488. 5

482.3

488. 3

501. 5

506. 4

505. 1

504.5

500 8

516 1

Personal consumption expenditures, total.. do

293.2

314. 0

328.9

290.9

294.5

299. 8

305. 8

313. 6

316. 5

320.0

323.8

329. 9

329. 7

332. 3

330. 7

336. 1

Durable goods, total. _ _ _ _ _ _ _
_ _ _ do
Automobiles and parts
do
Furniture arid household equipment do

37. 3
13.9
17.4

43.5
18.1
18.9

44.3
18.6
18.8

36.3
13.5
17.0

36. 7
13.2
17.6

39.5
15.6
17.8

41.6
17.2
18.0

44.5
19.0
18.9

44.4
18.4
19.2

43.7
17.6
19.3

44.7
18.8
19.1

45.3
19.3
19.0

43. 4
17.8
18.7

43.8
18.6
18.3

39 4
14 8
17 8

42 0
If) 7
18 3

Net interest
Gross national product, total

Nondurable goods, total
Clothing and shoes
Food and alcoholic beverages
Gasoline and oil

do
do
do
do

141.6
25.7
76. 6
10. 5

147. 3
27.4
78.0
11.0

152.4
28.1
80. 1
11.6

141.1
25.4
76.9
"•0.4

142.6
26.2
76.6
10.6

143. 2
26. 2
76.9
10.6

144.9
26. 5
77.4
10.7

147.3
27.8
78. 1
10.9

147.7
27. 6
77 8
11. 1

149.3
27.8
78 7
11. 1

150 5
28. 1
78 9
11.4

153.3
28.3
80 6
11 6

152 7
28.3
79 9
11 6

153 1
27.7
80 8
11 8

153 7
27.9
81 1
11 7

1 54 1
27. 6
81 4
11 7

Services, total
Household operation. _
Housing
Transportation

do
do
do
do

114.3
16.9
37.7
9 2

123 2
18. 1
39.9
10 0

132 2
19.6
42.2
10 5

113. 5
16.8
37 4
9 1

115 2
17.0
38. 0
9.2

117. 1
17.2
38.5
9.4

119 4
17.5
39. 3
9 5

121 9
17. 8
39.8
9 8

124
18
40
10

r>7 o

128
19
41
10

131
19
41
10

133
19
42
10

6
7
7
5

135 4

137
20
43
10

139
9()
44
10

Gross private domestic in vestment, total
New construction
Producers' durable equipment
Change in business inventories

-

Net exports of goods and services _
Exports
Imports .
__

___

6
2
1
4

2
5
9
5

9Q 0

43 1
10 5

5
6
6
5

9
q
2
7

56.6

72.4

72.4

63. 0

55.8

63. 6

70. 4

79.1

68.2

71.8

78.9

74.6

70.5

65. 6

59.8

68.8

do
do
do

35 5
23.1
—2 0

40 2
25 9
6 3

40 7
27.5
4 2

34 4
22.7
—4 0

35 1
22.3
—1 6

36 9
23.4
3.3

39 0
24. 3
7 1

41 2
26.3
11 7

41 0
26 6
7

39 6
26 6
5 6

40 9
97 ]
10 9

40 7
98 6
5 4

40 4
27 7
2 4

40 7
26 7
19

39 9
6
24
10

41 3
94 7

r

18
25.6
23 9

2 3
26.7
24 4

30
26.8
23 8

51
99 4

5 3
27.6
92 3

39
26. 4
29 5

99. 6
52.9
45 5
46 8

101.9
54.0
45 4
48 0

101. 6
53.0
45 7
48 6

105. 0
54.7
47 9
50 3

107.3
56. 6

501.0
>6 9
96 3
160. 6
187 7
56 4

502. 7
°54 9
8
94
160. 6
191 2
56 7

506. 4
54 6
93 4

9

do
do
do

do
do
do
do
do
do

1.2
22.7
21 5

—.7
23.1
23 8

3.0
26.7
23 6

91 4

1.6
22.9
21 4

.4
22.7
22 3

—.6
22.1
22 7

— 1.7
22.3
24 0

21.0
24 5

0
24.1
94 Q

93.5
52.6
44 8
40 8

97.1
53.5
46 2
43 6

100. 1
52.9
45 5
47 2

92.0
51.8
44 6
40 1

95.1
53.7
44 9
41 4

96. 7
54.3
45 5
42 3

98. 7
53. 2
45 9
43 5

97.5
53.9
46 5
43 6

98. 1
54. 1
46 3
44 0

96. 5
52.9
45 9
43 6

96. 9
51.8
45 5
45 0

446. 5
231 4
83.3
148.1
164 2
50 9

476. 5
244 0
91 3
152.8
176 2
56 3

500.2
254 3
94 3
160. 0
189 3
56 6

441.2
229 5
82 3
147.2
162 9
6
49

448. 0
93] q
81 8
150.1
166 0
50 8

457. 3
234 3
84 0
150. 2
169 6
53 5

465. 2
238 3
88 1
150.2
170 7
56 2

476.8
944 6
92 4
152.2
174 2
58 1

481.6
947 i
93 6
153. 5
177 6
56 9

482. 7
9
16 1
90 9
155.1
182 2
54 4

490.5
250 9
93 1
157.8
183 8
55 8

33
1 4
1.9

7 i
5 4
1.7

11 7
88
2.9

7
2 0
2.7

56
2 4
3.2

10 9
9 4
1.5

Inventory change, total
do
—2 0
Durable goods output _
...
do
—2 8
36
Nondurable goods output.
... _ do
.9
2.6
T
Revised.
cf Includes inventory valuation adjustment.
9 Government sales
* For quarterly data back to 1947, see p. 34 of the July 1961 SURVEY.

Digitized for608594° —61
FRASER
3


18 9
40 5
10 2

do

Government purchases of goods and services, total
bil. $ ...
Federal (less Government sales)
__do
National defense 9
do
State and local
_
do
By major type of product:*
Final sales, total
Goods output, total _ _
Durable goods output
Nondurable goods output
Services
Construction

4
2
1
2

4 2
2 5
1.8

1.3
22.7

4 0
4 0
-.0

16
—2 0
.4

9r

5 4
39
1. 5

4
2 0

9

161.3
1 Q4. (\
57 9

19
38
9. 0

504. 8
49 7
87 4
] 62. 3
K.7 9

0 g

50 6

513. 2
9 ^4 '-?

91 9
163. 0
C7 Q

A

O

C

0

0

1 «

2 9

are nrot deducted.

s-i

SUKVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS

1958

1959

1958

1860

Annual total

II

October 1961

1959

III

IV

I

II

1961

1960
III

IV

I

II

III

IV

I

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCO ME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted At Annual Pates
GNP in constant (1954) dollars
Gross national product total
bil $

401.3

428.4

440.8

395. 2

402.9

413.6

422.1

434. 4

426.6

430.7

441.0

443.4

440.2

438.4

433 2

445 5

Personal consumption expenditures, total _ _ d o

273.2

289.3

298.3

270.9

274.4

278.7

283.8

289.7

290.8

292.8

295.4

299. 5

298.6

299.6

297. 0

301. 6

do
do
do

35.5
133.3
104.4

41.0
138. 8
109. 5

41.8
141.8
114.7

34.7
132.3
104.0

35.1
134.3
105.1

37.5
135. 2
106. 1

39.2
136.8
107.7

41.7
139.3
108.8

41.6
139.2
110.0

41.4
140.0
111 4

42 1
140.9
112 4

42.5
142.9
114.2

40.8
142.0
115.8

41.6
141. 3
116. 6

37 6
141.6
117 8

39 8
142. 6
119 2

Gross private domestic investment, total_._do

Durable goods
Nondurable goods
Services

New construction
_
Producers' durable equipment
Change in business inventories

61.1

60.6

45.8

48.1

54.7

59.9

66.9

57.3

60.4

66.6

62.3

58. 6

54.9

49.6

57.3

31.1
19.4
-1.5

34.3
21.3
5.5

33.9
22.7
4.0

30.2
19.1
-3.4

30.6
18.8
—1.3

32.1
19 5
3.1

33.7
20. 1
6.2

35.2
21 6
10. 1

34.7
21 7
.8

33.4
21 9
5.0

34. 3
22 4
9.9

33.9
23 4
4.9

33.6
22 7
2.3

33.9
22 1
— 1.1

32.9
19 9
—3 2

34 1
90 3
29

do

__

Not exports of goods and services

49.0

do
do
do

— 2

—2 1

17

— 2

2

—1 1

—2 2

32

19

— 9

6

10

16

35

33

19

79.3
44.5
34.8

80.1
43 9
36.2

80.2
42 3
38. 0

78.6
44 4
34.2

80.2
44 9
35.3

81.2
45 4
35. 8

80.7
44 2
36.5

81.0
44 6
36.4

80.5
44 0
36.5

78.4
42. 7
35.8

78.4
41 7
36.7

80.6
42 7
37.8

81.3
42 9
38.4

80.3
41 6
38. 7

83. 3
43 1
40 2

84.7
44 7
40.0

360. 3
42.3
317.9

3*3. 3
46.0
337.3

402. 2
50.4
351.8

356. 0
41.8
314.2

364. 6
42.7
321.8

368. 2
43.1
325. 0

374.7
44.9
329. 8

384. 6
46.1
338.4

385. 1
46.4
338. 7

388. 9
46.6
342.3

395. 5
49.9
345. 7

403. 1
50.5
352. 7

405 1
50.8
354.4

405. 4
50. 5
354.9

404 7
50. 3
354 H

413 2
51.4
361 8

24.7

23.4

22.9

23.3

27.3

25.2

23.9

24.8

22.3

22.3

21.8

22.8

24.6

22.7

23 7

25 8

7.63

8.14

8.92

7.76

7.43

8.01

6.91

8.32

8.32

8.99

7.89

9.28

8.98

9.53

7 57

Government purchases of goods and services, total
bil. $_.
Federal
do
State and local
_ _
do
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil. $
Less: Personal tax and nontax payments
do
Equals* Disposable personal income
do
Personal savin.0" §
._
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals or averages:
All industries
bil $

1

8 61

Manufacturing.
Durable goods industries
Nondurable goods industries

do
do_ _
do

2. 86
1.37
1.49

3.02
1.44
1.57

3.62
1.80
1.82

2.94
1.40
1.54

2.66
1.26
1.41

2.93
1.38
1.56

2.46
1.14
1.31

3.02
1.45
1.57

3.02
1.44
1.58

3.57
1.74
1.83

3.09
1.55
1.54

3.76
1.88
1.88

3.62
1.80
1.81

4.01
1.95
2.06

3. 00
1.41
1.59

3.46
1.58
1.88

Mining
Railroads
_
_ __ _
Transportation, other than rail
Public utilities
__
Commercial and other

do
-do
do
do
do

.24
.19
.38
1.52
2.45

.25
.23
.51
1.42
2.72

.25
.26
.48
1.42
2.89

.24
.20
.37
1.51
2.50

.22
.14
.32
1.63
2.45

.25
.16
.41
1.72
2.54

.21
.16
.41
1.20
2.47

.24
.26
.53
1.47
2.79

.26
.28
.54
1.48
2.74

.27
.22
.55
1.51
2.87

.22
.25
.47
1.18
2.69

.27
.29
.55
1.42
2.99

.25
.24
.47
1.50
2.90

.24
.25
.46
1.58
2 99

.21
.17
.41
1.09
2.69

.26
.18
.48
1.39
2.85

Seas. adj. qtrly. totals at annual rates:
All industries

do

30.32

29.61

29.97

30.62

32.51

33.35

33.58

35.15

36.30

35.90

35. 50

33.85

Manufacturing
Durable goods industries
Nondurable goods industries

do
do
do

11 53
5 57
5.96

10 86
5 16
5.70

10 58
4.86
5.72

11 20
5.26
5.94

11 80
5. 74
6.06

12 25
5.83
6.42

12 87
6.16
6.71

14 10
7 15
6.95

14 70
7.40
7.30

14 65
7.35
7.30

14 40
6.85
7.55

13 75
6 60
7.25

13 50
6.20
7.30

.92
. 77
1 40
5 97
9 73

.88
.63
1 29
6 10
9 85

.97
.58
1 62
6 %
9 96

.95
.63
1 71
5 80
10.33

.94
1.00
2 08
5 8'>
10 87

1.01
1.28
2.17
5 58
11.06

1.04
.85
2.15
5 48
11.19

1.00
1.00
2 00
5 75
11 35

1.05
1.10
2.15
5 70
11.60

1.00
1.00
1.90
5 60
11.75

.90
1.00
1.80
5 70
11.65

.95
. 70
1 75
5 35
11 30

1.00
.70
1.80
5 50
11.05

4, 583 2 4, 660

4, 565

4,580

4. 595

4,615

4, 635

4. 655

4, 670

4,690

4,710

4,725

4,730

4, 740

4, 755

6,401

6,421

7,266

6,646

6,062

6,666

5. 970

6, 453

6, 352

6,908

6.796

7,584

6,941

7,744

7,210

570

494

441

681

455

524

507

605

402

460

443

622

282

418

312

4,066
731
1,035

4,071
761
1,096

4, 852
801
1,172

4,193
699
1,073

3,816
703
1,088

4,196
913
1,033

3,807
633
1,023

4.074
668
1,106

4,058
716
1,176

4,343
1,026
1,079

4,607
695
1,051

4,994
752
1,216

4,676
735
1,248

5,132
1,023
1,171

5,009
817
1,072

4,910
872
1,243

5, 263

5,884

5, 832

5. 278

5,388

5,446

5,401

5,964

6,228

5,944

5,769

6,074

6,057

5,427

5,322

5, 634

3, 238
Merchandise, adjusted^fcf
- do
169
Income on foreign investments in U.S. __ _ do . _
853
Military expenditures
do
1,004
Other servicescf
do

3.824
208
777
1,076

3, 680
232
762
1,157

3,166
150
912
1,050

3.124
164
839
1,261

3, 522
188
829
907

3,594
180
780
847

3,879
193
789
1,103

3.847
207
786
1,388

3,974
250
754
966

3, 830
249
767
923

3,857
233
756
1.228

3,550
220
798
1,489

3,485
227
727
988

3,407
215
759
941

3,469
211
748
1,206

+674 +1,220

+569

+489

+124

+964 +1,027 +1,510

+884 +2,317 +1, 888

—949 —1,135 —1,022 -1,253
-164
-142
-144
-156
-979
-805
-880 -1,089

—900 -1,079 -1,012
-155
-154
-173
-857
-746
-906

_-

Mining
- - do
Railroads
do
Transportation other than rail
do
Public utilities
do
Commercial and other
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted
__ .
_-thous_- 2 4, 533
U.S. BALANCE OF INTERNATIONAL
PAYMENTS
Annual Data Are Quarterly Averages
Exports of goods and services total
mil $
Military transfers under grants net
do
Merchandise, adjusted, excluding military transactionsH
mil. $
Income on investments abroad
do
Other services and military transactions
do
Imports of goods and services, total

Balance on goods and services
Unilateral transfers (net) total
Private
Government

do

-

do _ _ +1,138

2

+537 +1,434 +1,368

—1,155 —1 100 —1,064 —1,279
do
-144
-131
-158
do_ __ -135
-956
905 -1,148
-1,020
do

U.S. long- and short-term capital (net), total-do
Private
do
Direct investments
do
Government
do

-954
-711
-274
-243

-682 -1,241 -1,251
-594
-964 -1,025
—411
-343
—424
-226
-88
-277

—999 -1,157 -1,128 —1,186
-152
-135
-124
-140
-993 -1,046
-875 -1,005

-784
-451
—156
-333

+451
+930
+307
+607
Foreign long- and short-term capital (net)
do
+11
+483
+183
+569
+426 +1 . 075
Gold sales [purchases ( — )]
do
+132
+175
+76
-162
+95
Errors and omissions
do
r
Revised.
1 Estimates for July-Sept. 1961 and Oct.-Dec. 1961, based on anticipated capital expenditures of business, anticipated expenditures for the year 1961, and comparative data for 195960, appear on p. 6 of the Sept. 1961 SURVEY.
2
Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1961
(based on incomplete data) is 4,717,000.




-893
— 726
—372
-167

-494 -1,032
-412
-738
—442
-287
-82
-294

-607
-387
—994
-220

-595
-838
-419
+243

-875 -1,110 -1,075 -1,905 -1,400
-794
-980
-924 -1,557
-651
-464 I
-331
-733
-327
-303
-420
-151
-348
-224
-386

1

33. 50

-163
-589
-934
-431
+345

+491
+ 187
+198
+554
+887
+571
+771
+858 +1,042 +1,273
+548
-330
+346
+921
+94
+72
+95
+637
+50
+347
+397
+167
-282
-9
-452
-128
-8
-117
+146
+49
-71
+100
+290
§Personal saving is excess of disposable income over personal consumption expenditures
shown as a component of gross national product on p. S-l.
f Adjusted for balance-of-payments purposes, mainly for valuation, coverage, and timing,
d" Excludes military expenditures.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102