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Gross National Product
1962

1961
1960

1961

1962

IV

I

II

1962

1961

III

IV

1960

1961

1962

IV

I

II

III

IV

Seasonally adjusted at annual rates
TABLE I.— GROSS NATIONAL PRODUCT
(1-3, 1-4)
Gross national product

Billions of dollars, unadjusted for seasonal variation

503. 4

-

Personal consumption expenditures _. _ _
Durable goods__ _ __
Nondurable goods
Services
__

Billions of dollars

__ _
___ _

518.7

553.9

538.6

545. 0

552.0

555.3

563.5

503.4

518.7

553.9

141.2

130.8

138.1

136. 4

148.5

328. 5

338.1

356.7

346.1

350.2

354.9

358.2

363.5

328.5

338.1

356. 7

93.3

83.1

88.1

87.4

98.1

44.8
151.8
131.9

43.7
155. 2
139.1

47.5
162.0
147.1

46.6
157. 2
142.3

46.3
159. 9
144.1

47.2
161.3
146.3

47. 1
163. 0
148.1

49.6
163.9
150. 1

44.8
151.8
131.9

43.7
155. 2
139.1

47.5
162.0
147. 1

13.6
44.5
35.2

10.3
36.4
36.4

11.9
39.6
36.5

10.8
39.7
37.0

14.6
46.4
37.2

72.4

Nonfarni__
Farm

77.4

76.3

76.2

72.4

69.3

76.6

18.5

19.0

19.8

19.0

18.8

41.6

44.5

46.1

45.0

40.7

41.6

44.5

11.0

9.0

11.5

12.5

11.5

21.0
20.5

23.3
21.2

22.8
20.4

21.2
20.5

23.3
21.2

24.3
21.8

23.8
21.3

21.1
19.7

21.0
20.5

23.3
21. 2

5.7
5.3

4.4
4.6

6.3
5.2

6.6
5.8

5.9
5.5

25.5

28.9

27.4

27.6

28.9

29.2

29.9

27.6

25.5

28.9

7.2

6.3

7.8

6.9

7.9

2.1

3.2

6.0

6.7

4.0

1.0

1.2

4.1

2.1

3.2

.2

3.6

.6

-.4

-.6

3.7
.3

Change in business inventories

75.9

43.2

4.1

Producers' durable equipment...

76.6

44.5

27.6

Residential nonfarm
Other

76.6

41.6

21.1
19.7

New construction

69.3

40.7

Gross private domestic investment

1.9
.2

3.2
.1

5.9
.1

6.6
.1

3.9
.1

1.0
.0

1.1
.1

3.7
.3

1.9
2

3.2
.1

.2
.0

3.6
.0

.5
.0

-.4
.0

-.6
.0

2.9

National defense
Other
_.
Less: Government sales __
State and local

3.7

3.7

2.5

3.2

2.9

4.0

3.3

1.3

.9

1.0

.2

1.2

28.3
24.5

28.2
24.5

29.0
25.3

28.3
25. 8

28.2
25.0

26.4
23.5

27.3
23.3

28.4
25.2

7.4
6.1

6.8
5.9

7.4
6.4

6.8
6.6

7.4
6.2

99.7

107.4

117.3

112.1

115.2

116.0

118.2

120.7

99.7

107.4

117.3

28.1

27.8

29.2

29.9

30.3

57.0

62.4

59.5

61.9

62.1

62.7

63.4

53.2

57.0

62.4

14.7

15.3

15.6

15.8

15.6

49.0
8.7
.6

53.4
9.7
.8

50.8
9.2
.6

53.0
9.6
.6

53.2
9.5
.6

54.0
9.6
.8

54.2
10.1
.9

45.7
8.1
.6

49.0
8.7
.6

53.4
9.7
.8

12.7
2.2
.2

13.1
2.3
.2

13.4
2.4
.2

13.4
2.7
.2

13.5
2.3
.2

46.5

Federal

3.8

28.4
25.2

45.7
8.1
.6

Government purchases of goods and services

3.3

27.3
23.3

53.2

Exports
Imports

4.0

26.4
23.5

Net exports of goods and services

50.4

55.0

52.6

53.3

54.0

55.5

57.3

46.5

50.4

55.0

13.4

12.5

13.6

14.1

14.7

TABLE 2.— GROSS NATIONAL PRODUCT
IN CONSTANT DOLLARS, AND IMPLICIT PRICE DEFLATORS (1-5, VII-3)

118.0

440.2

_

_ _

447.9

471.9

463.4

467.4

470.8

471.6

477.7

114.4

115.8

117.4

116.2

116.6

117.2

117.7

298.3

Gross national productPersonal consumption expenditures
Durable goods
Nondurable goods
Services

Implicit price deflators for seasonally adjusted GNP, 1954=100

GNP in billions of 1954 dollars

304.3

318.2

310.6

313.9

316.9

319.0

322.8

110.1

111.1

112.1

111.4

111.6

112.0

112.3

112.6

42.2
141.4
114.7

41.6
143.3
119.4

45.2
148.5
124.5

44.4
144.9
121.4

44.1
147.0
122.8

44.6
148.1
124.1

44.6
149.5
125.0

47.6
149.3
126.0

106.1
107.4
115.0

105.2
108.3
116.5

105.2
109.1
118.2

105.1
108.5
117.3

104.9
108.7
117.4

106.0
108.9
117.9

105.6
109.1
118.5

104.3
109.8
119.1

62.8

60.7

57.8

63.3

64.1

63.3

64.1

62.4

34.3

34.8

36.5

36.1

34.6

36.7

37.7

36.8

118.8

119.6

121.6

119.8

120.4

121.3

122 A

122.5

18.2
16.1

18.2
16.6

19.8
16.8

19.7
16.4

18.2
16.4

19.9
16.8

20.5
17.2

20.1
16.7

115.9
122.0

115.8
123.7

117.7
126.3

116.1
124.3

116.2
125.0

117.3
126.0

118.5
126.9

118.4
127.5

Producers' durable equipment

22.7

21.1

23.8

22.7

22.8

23.8

24.0

24.8

121.6

121.3

121.3

120.7

121.2

121.8

121.8

120.6

Change in business inventories

3.7

2.0

2.9

5.4

5.9

3.7

.8

1.3

3.4
.3

1.8
.1

2.8
.1

5.3
.1

5.8
.1

3.6
.1

.8
.0

1.2
.1

108.1
97.7

108.1
98.8

108.1
98.8

109.1
97.8

108.2
97.4

107.2
96.8

Gross private domestic investment _
New construction
Residential nonfarm
Other

Nonfarm
Farm

1.5

Exports _
Imports

_

_

_

_

_

Government purchases of goods and services
Federal
State and local _ _

_ . __.

1.8

.5

1.4

1.3

.7

-.3

.5

24.9
23.4

Net exports of goods and services

25.3
23.5

26.3
25.7

26.2
24.8

26.1
24.8

26.6
25.9

26.2
26.5

26.3
25.8

105.8
100.3

107.6
99.1

79.8

84.0

89.9

87.2

88.9

89.2

90.5

91.6

125.0

127.9

130.5

128.4

129.5

130.1

130.7

131.7

42.3
37.4

44.5
39.4

48.7
41.2

46.7
40.5

48.3
40.6

48.6
40.6

49.0
41.5

49.3
42.3

125.6
124.2

128.0
127.9

128.2
133.3

127.3
129.7

128.2
131.1

127.8
132.9

128.1
133.7

128.7
135.3

TABLE 3.— GROSS NATIONAL PRODUCT
BY MAJOR TYPE OF PRODUCT (1-6, 1-7)
Gross national product
Final sales
Inventory change
Goods output
Final sales .
_
Inventory change
Durable goods output
Final sales
Inventory change
Nondurable goods output
Final sales
Inventory change
Services
Co ns true tio n




Billions of 1954 dollars, seasonally adjusted at annual rates

Billions of dollars seasonally adjusted at annual rates

503.4

518.7

553.9

538.6

545.0

552.0

555.3

563.5

440.2

447.9

471.9

463.4

467.4

470.8

471.6

477.7

499 4
4.1

516.6
2.1

550. 6
3.2

532.6
6.0

538.3
6.7

547.9
4.0

554.2
1.0

562.3
1.2

436.5
3.7

446.0
2.0

468.9
2.9

458.1
5.4

461. 5
5.9

467.2
3.7

470.8
.8

476.5
1.3

258.2

259.4

276.9

271.0

274.9

276.7

275.7

280.4

234.0

233.5

247.7

243.7

246.4

247.1

245.8

251.5

254.1
4.1

257.2
2.1

273.7
3.2

265. 0
6.0

268.2
6.7

272.6
4.0

274.7
1.0

279.2
1.2

230.3
3.7

231.5
2.0

244.8
2.9

238.4
5.4

240.5
5.9

243.4
3.7

245.0
.8

250.2
1.3

97.2
95 0
2.3

94.0
94.0
.0

104. 5
102.9
1.6

102.3
98.8
3.5

103.4
99.9
3.5

104.5
102.6
1.9

104.9
103.0
1.9

105. 6
106.4
-.8

85.0
82.9
2.1

82.1
82.0
.1

90.8
89.5
1.4

89.4
86.3
3.1

89.9
87.0
2.9

90.3
88.7
1.6

90.8
89.1
1.6

92.5
93.2
-.7

160. 9
159.2
18

165. 4
163.3
2. 1

172.4
170.8
1.6

168. 8
166.3
2.5

171.5
168.4
3.1

172.2
170.0
2.2

170.8
171.7
-.9

174.8
172.8
2.0

149.1
147.5
1.6

151.4
149.5
1.8

156.9
155.3
1.6

154.4
152.1
2.2

156.5
153.5
3.0

156.8
154.7
2.1

155.0
155.9
-.9

159.0
157.0
2.0

188.6

200.7

214.8

206.6

211.1

213.5

215.9

219.5

158.3

165.2

173.0

168.7

171.8

172.7

173.7

174.3

56.7

58.6

62.1

61.0

59.0

61.8

63.6

63.7

47.8

49.3

51.2

51.0

49.2

51.0

52.1

51.9

SURVEY OF CURRENT BUSINESS
National and Personal Income
[Billions of dollars]

1962
1960 1 1961
:

1962

IV

J

J

II

III

IV

1960

| Soasona lly adjusted at annual
rates

i

;

415.5 427.8 457.5 444.0 448.9 456. 7 459.8

n.a.

Compensation of employees

J99
271.3 278.8 295.8 286.1 289.9 295. 9 297. 8 299. 7
J42.2
222.9 227.0 239.7 232.5 235. 0 240.1 241.4 242.2
10.9 10.6
9.9 10.2 11.0
10.8 11.2 11.2
38. 5 41. 6 45. 2 42.8 43.7 44.6 45.5 46. 9

j 1962

IV

1

II

III

IV

' Seasonally adjusted at annual
'
rates

1

TABLE 11. RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME,
AND PERSONAL INCOME, SEASONALLY ADJUSTED AT ANNUAL RATES,
(1-17, 1-18)

293.7 302.2 321.6 309.9 315. 2 321.7 323.8 325. 8

Wages and salaries
Private
Military
Government civilian

1961

!

i

TABLE 8.— NATIONAL INCOME BY TYPE OF INCOME (I-8, 1-9)
National income

1962

19(51 ;

1961

!

_ __

Business and professional . _
Income of unincorporated enterprises
Inventory valuation adjustment
Farm
._ _
Rental income of persons

23.4

25. 8

23.8

25. 2

25. 8

25. 9

26. 1

11 4
11.0

12.0
11.4

13.5
12 3

12.2
11.6

13.3
12.0

13.4
12.3

13.5
12.4

13. 6
13.6
12. 5
12.5

8 6
2 4

9 0
2 4

47.8

49.8

49.5

49.1

49. 5

49.7

50.9

34.2

34. 8

36.8

36.0

36.2

36.8

37.0

37.3

34 2

12.0

34.7
0
13.1

13.6

13.6

12.9

12.8

12.8

13 6
13.6

11.9

Proprietor's income

22.4

46.2

Supplements to wages and salaries. __
Employer contributions for social
insurance
Other labor income
Employer contributions to private pension and welfare funds
Other

12.3

12.8

12.5

12.6

12.8

12.9

12 9
12.9

o

45.6

45.5

51.0

51.1

50.4

50.7

51.0

n.a.

Profits before tax
Profits tax liability
Profits after tax
Dividends
_
Undistributed profits
Inventory valuation adjustment

._

45.4
22.4
23.0
14.4
8.6
2

45.6
22.3
23.3
15.0
8.3
.0

50.9
24.8
26.0
15. 9
10.1
.2

51.4
25.1
26.3
15.5
10.8
-.3

50.1
24.4
25.6
15.8
9.9
.3

50.9
24.9
26.1
15.8
10.3
2

51.1
24.9
26.1
15.8
10.3
-.1

n.a.
n.a.
IK'a
n.a.|
16.4
na
n.a.
'.8
.8

_.

18.1

20.0

22.2

21.0

21.5

22.0

22.5

23.0

.

_

_

563. 5

47.5

48.3

460. 2 473. 4 506. 3 492. 0 498. 0 504.5 507.8

515.3

Loss: Indirect business tax and nontax
liability
46.5 48.2 51.6 49. 7 50.2 51.4 51.8
2.1
Business transfer payments
2.1
2.1
2.1
2.1
2.1
2.1
Statistical discrepancy
-3.4 -3.1 —3. 3 -1.9 -1.4 -4.0 -4.3

52. 9
2.1
n.a.

Less: Capital consumption allowances. 43.2
Equals: Net national product

Plus: Subsidies minus current surplus
of government enterprises

Corporate profits and inventory valuation adjustment

Net interest

503. 4 518.7 553. 9 538. 6 545. 0 552. 0 555. 3

Gross national product

45.3

47.6

46. 6

47.0

47.5

Less: Corporate profits and inventory
valuation adjustment
Contributions for social insuranco
Excess of wage accruals over disbursements

1.8

1.6

415. 5 427.8 457. 5 444.0 448. 9 456. 7 459. 8

Equals: National income

n.a.

.5

1.7

1.7

2.0

1.8

1.8

Equals: Personal income

45. 5

51.0

51. 1

50. 4

50. 7

51.0

n.a.

20. 6

21. 6

23. P

22.1

23, 6

23.9

24.0

24.2

.0

.0

.0

.0

.0

.0

.0

.0

27.3

31.3

32.4

31. 6

31.9

32.0

32.3

33.5

7.8
14. 4
2. 1

7.3
15.0
2.1

7.4
15. 9
2.1

7.2
15.5
2. 1

7.3
15.8
2.1

7.4
15.8
2.1

7.5
15.8
2.1

7.6
16.4
2.1

400.8 416. 4 440.5 427. 3 432.0 439.5 442.6

Plus: Government transfer payments
to persons
Net interest paid by governnient
Dividends
Business transfer payments

45.6

448.0

TABLE 12.—PERSONAL INCOME AND ITS USE (II-2)

TABLE 9.—NATIONAL INCOME BY INDUSTRY DIVISION (1-11)
Personal income
AH industries, total
Agriculture, forestry, and fisheries
Manufacturing
Durable-goods industries
Nondurable-goods industries
Wholesale and retail trade
Finance, insurance, and real estate
Transportation
Communications and public utilities. _
Services __
Government and government enterprises
Other

415. 5 427.8 457. 5 444.0 448.9 456.7 459.8

n.a.

18.3

n.a.

122 0 121 7 133 2 129 3 130 6 133 6 134 3
72.6 71.4 79.9 77.3 78.1 80.1 80.9
49.4 50.3 53. 3 52.0 52.6 53.5 53.4
68 0 69. 6 73.8 71 4 72 4 74. 1 73.8
42.5 44.7 47.0 45.7 45.9 46. 6 47. 4
17.9 17.9 18.8 18 5 18 7 18.8 18.8
16.7 17.5 18.5 18.0 18.3 18.4 18. 5

na
n.a.
n.a.
na
n.a.
na
n.a,

17.3

18.5

18.5

18.4

19.1

18.3

49.2

51.7

56. 0

53.3

54.4

55. 5

56. 7

n a.

52. 5
29. 4

56.3
29.8

61.0
30.7

58.2
30.5

59.7
30.3

60.6
30.7

61.3
30.8

n.a.
n.a.

TABLE 10.—NATIONAL INCOME BY CORPORATE AND NONCORPORATE
FORM OF ORGANIZATION (1-14)
National income

-

I
415.5 427.8 457.5 444.0 448. 9 456. 7 459.8 1

n.a.

Income originating in corporate busi- 9
2 7 4 230.0 246.8 240.2 242 3 247. 1 248. 1
ness

n.a.

183 1 185 8 197 o 190 5 193 5 197 8 198 4
Compensation of employees
167.5 169.7 179.3 174. 1 176 0 179. 9 180.4
Wages and salaries
Supplements to wages and salaries. 15.6 16.0 17.8 16. 4 17.5 17.9 17.9

199 0
181 0
18. 0

Corporate profits and inventory
valuation adjustment _ _ _ _ .
Profits before (ax _
_ _
Profits tax liability
Profits after tax
....
Inventory valuation adjustment. ..
Net interest

!
(
43.7 i 43.3 48. 6 i 48. 7
43.6 1 43.4 1 48. 4 i 49.0
22.4 22.3 24.8 25. 1
21.1 21.1 23 6 23. 9
.2
.0
.2 -.3
6

.9 !

1.0

10

47.8
47.5
24. 4
23. 0
!

'3

i

1 0

48.3
48.5
24. 9
23.6

9

1 0 i

48.7 ! n.a.
48.8 ! n.a.
24.9
n.a.
23.9
n.a.
-.11
.8
1 0 1

11

Income originating outside corporate
188.0 ; 197. 8 210.7 j 203. 8 ,206.5 209.6 I211.7 : 215.0
business

n.a. Not available.




400.8 416.4 440.5 427. 3 432. 0 439.5 442.6

448.0

Wage and salary disbursements
271. 3 278.8 295.8 286.1 289. 9 295.9 297.8
Commodity-producing industries. 110.4 110.8 117. 2 114.3 115.0 118.1 118.0
87.4 87. 5 93.6 90.7 91.9 94.4 94.1
Manufacturing only
71.8 72.9 76.2 73.9 74.9 76.1 76.5
Distributive industries
40.7 43. 4 46. 3 44.3 45.1 45.9 46.9
Service industries
48.4 51.8 56.2 53.6 54.9 55. 8 56. 4
Government
__ . .

29-9. 7
117.8
94.0
77.1
47.3
57. 5

Other labor income

11.0

11.4

12,3

11.6

12.0

12.3

12.4

12.5

Proprietors' income
Business and professional .
Farm

46. 2
34.2
12 0

47.8
34.8
13 1

49.8
36.8
1 3. 0

49. 5
36. 0
13. 6

49. 1
36. 2
12.9

49. 5
36.8
12. 8

49.7
37.0
12 °
*•-'• 8

50.9
37.3
13. 6

Rental income of persons

11.9

12.3

12.8

12.5

12. 6

12.8

12.9

12.9

Dividends
Personal interest income. -

1 4. 4
25. 8

15.0
27.4

15.9
29. 7

15. 5
28. I

15. S
28.8

15.8
29.4

15.8
30.0

16.4
30.6

Transfer payments
Old-age and survivors insurance
benefits
State unemployment insurance
benefits
Veterans' benefits
Other

29.4

33. 4

34. 6

33.8

34. 1

34. 2

34. 4

35. 7

11. 1

12.6

14.3

13. 4

13. 7

14. 4

14. 5

14. 8

2.8
4.5
10.9

4.0
4.8
12.0

3.0 ' 3.7
4.8
4.8
12. 5 11.9

3.3
4. 8
12 3

2. 7
4. 8
12. 3

2. 7
4. 7
12. 5

3 2
4.9
12. 7

9.2

9 7

9. 9

10. 3

10. 5

10. 5

10. 6

51. 4
44. 0
7.4

52.8
45.0
7. 8

57.0 54.6
49.1 ! 46.7
8. 5 , S. 0

56. 4
48.0
8. 4

57. 7
49. 2
8. 5

58. 5
49.9
8. 6

58.7
50. 1

384. 1

389. 3

Less: Personal consumption expenditures
328. 5 338. 1 356. 7 (346. 1 350. 2 354. 9 358. 2

363. 5

Less: Personal contributions
social insurance

for

Less: Personal tax and nontax payments ...
Federal
State and local
Equals: Disposable personal income

Equals: Persona! saving

10. 5

349. 4 363. 6 382.9 1372. 6 375.6 381.8

20.9

25.6

26,2

26. 5

25.4

26.0

25. 8

Addendum: Disposable personal income in constant (1954) dollars
317.3 327. 3 34 l . C 334. 5 330. f> 340. 9 342. 1
i

345. 8

26,9

BUSINESS STATISTICS
JL HE STATISTICS here update series published in the 1961 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1957 through 1960 (1951-60, for major
quarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and references
to sources of earlier figures. Series added or significantly revised after the 1961 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) and a dagger (t), respectively; certain revisions for 1960 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the July 1961 issue. Except as otherwise stated, the terms ''unadjusted" and ''adjusted" refer to adjustment for seasonal
variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS

1960

| 1961

1962

1959
IV

Annual total

1960
I

II

1961
III

IV

I

II

1962
III

IV

I

II

III

IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
\ationul income, total f

bil. $__

Compensation of employees, total

__do

Wages and salaries, total
__
do
Private
do
Military
do
Government civilian
__
do
Supplements to wages and salaries
do
Proprietors' income, totaled1
__ _ -do
Business and professionalcf _ do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
- __bil. $__

427.8

457.5

403.9

413.9

417. 2

416.6

414.4

411.8

424. 3

431.3

444.0

448.9

456.7

459.8

293.7

302.2

321.6

283.0

290.6

294. 6

295. 8

293. 9

294.1

300.2

304.5

309.9

315.2

321.7

323. 8

325.8

271.3
222 9
9.9
38.5
22.4
46.2
34.2
12.0
11.9

278.8
227. 0
10.2
41.6
23.4
47.8
34.8
13.1
12.3

295.8
239. 7
11.0
45.2
25.8
49.8
36.8
13.0
12.8

262.5
216. 5
9.8
36.1
20.6
45.9
35.1
10.8
11.9

268. 5
221.6
9.8
37.1
22.0
45.2
34.5
10.7
11.9

272.2
224. 4
9.8
38.0
22.3
46.9
34.5
12.4
11.9

273.3
224. 2
9.9
39.1
22.5
46.3
34.1
12. 2
11.9

271.3
221.6
10.0
39.7
22.6
46.5
33.8
12.7
12.0

271.2
220. 8
10.0
40.4
22.9
46.5
33.7
12.8
12.0

276.9
225.8
10.0
41.2
23.2
47.2
34.5
12.7
12.2

281.0
228. 8
10.0
42.2
23.5
48.1
35.1
13.1
12.3

286.1
232. 5
10.8
42.8
23.8
49.5
36.0
13.6
12.5

289.9
235. 0
11.2
43.7
25 2
49.1
36.2
12. 9
12.6

295.9
240.1
11.2
44.6
25.8
49.5
36.8
12.8
12.8

297.8
241.4
10.9
45.5
25.9
49.7
37.0
12.8
12.9

299.7
242, 2
10.6
46. 9
26.1
50.9
37.3
13. 6
12.9

415.5

Net interest

45.6

45.5

51.0

46.0

48.6

46.2

44.4

43.3

40.1

45.0

46.0

51.1

50.4

50.7

51.0

do
do
do
do
do
do

45.4
22.4
23.0
14.4
8.6

45.6
22.3
23.3
15.0
8.3
.0

50.9
24.8
26.0
15.9
10.1

45.3
22. 0
23.3
14.2
9.0
.7

49.2
24.3
24.9
14.3
10.6
-.6

46.4
22.9
23.5
14.2
9.2
o

43.3
21.4
21.9
14.4
7.5
1.2

42.8
21.1
21.7
14.5
7.1
.5

39.8
19.4
20. 3
14.7
5.6
.3

44.8
21.9
22.9
14.8
8.1
.2

46.3
22.6
23.7
14.9
8.7
-.3

51.4
25.1
26.3
15.5
10.8
-.3

50.1
24.4
25.6
15.8
9.9
.3

50.9
24.9
26.1
15.8
10.3
-.2

51.1
24.9
26.1
15.8
10.3

do

Corporate profits before tax, total __
Corporate profits tax liability
Corporate profits after tax
.
Dividends
Undistributed profits
Inventory valuation adjustment

18.1

20.0

22.2

17.0

17.6

17.7

18.2

18.8

19.1

19.8

20.3

21.0

21.5

22.0

22.5

16.4
.8

23.0

do

503.4

518.7

553.9

488.5

501.7

504.8

503.7

503.3

500.8

513.1

522.3

538.6

545.0

552.0

555.3

563.5

Personal consumption expenditures, total. .do

328.5

338.1

356.7

318.8

323.9

329.9

329.8

330.5

330.5

335.5

340.1

346.1

350.2

354.9

358.2

363.5

44.8
18.8
19.1
151.8
28.1
79.5
11.7
131.9
19.6
41.8
10.7

43.7
17.2
19.3
155.2
28.6
81.1
11.9
139. 1
20.6
43.9
11.1

47.5
20.1
19.9
162.0
30.0
84.7
12.5
147.1
21.7
46.0
11.6

43.1
16.9
19.3
148.9
27.8
78.3
11.3
126. 8
18.8
40.3
10.5

45.1
19.0
19.3
150. 0
28.1
78.5
11.5
128. 9
19.2
40.9
10.6

45.8
19.5
19.2
152.6
28.3
79.9
11.6
131. 5
19.6
41.7
10.6

44.5
18.3
19.1
152. 5
28.4
79.5
11.7
132. 8
19.7
42.2
10.6

44.0
18.3
18.7
152. 3
27.8
80.2
11.9
134.2
20.0
42.6
10.7

40.8
15.4
18.4
153. 5
28.1
80.3
11.9
136.2
20.2
43.1
10.9

43.5
16.9
19.2
153.9
28.0
80.6
11.7
138.0
20.6
43.6
10.9

44.0
16.9
19.7
156. 2
29.0
81.5
11.9
139.9
20.7
44.1
11.1

46.6
19.4
19.8
157. 2
29.2
82.1
12.1
142.3
21.0
44.8
11.4

46.3
19.1
19.7
159. 9
29.8
83.7
12.1
144.1
21.3
45.2
11.5

47.2
20.3
19.3
161. 3
29.8
84.2
12.3
146.3
21.8
45.7
11.5

47.1
19.3
20.1
163.0
30.3
85.3
12.5
148.1
21.9
46.2
11.6

49.6
21.5
20.5
163.9
30.2
85,6
12.8
150.1
22.0
46.8
11.8

Gross national product totalf

Du r able goods total©
__do
\utomobiles and parts
do
Furniture and household equipment. - -do
Nondurable goods, total©.
do
Clothing and shoes
do
Food and alcoholic beverages
do
Gasoline and oil
do
Services total ©
do
Household operation
do
Housing
do
Transportation
do

72.4

69.3

76.6

73.2

79.1

73.5

70.3

66.5

60.1

67.6

72.4

76.6

75.9

77.4

76.3

76.2

40.7
21.1
27.6
4.1
3.7

41.6
21.0
25.5
2.1
1.9

44.5
23.3
28.9
3.2
3.2

39.6
21.3
26.4
7.1
7.0

40.9
21.5
27.4
10.8
10.6

40.7
21.2
28.4
4.4
4.1

40.5
21.0
27.7
2.1
1.7

40.7
20.5
26.8
-1.1
-1.5

39.3
19.0
24.4
-3.6
39

41.0
20.1
24.6
2.1
1.8

42.6
21.9
25.8
4.0
3.8

43.2
22.8
27.4
6.0
5.9

41.6
21.2
27.6
6.7
6.6

44.5
23.3
28.9
4.0
3.9

46.1
24.3
29.2
1.0
1.0

45.0
23.8
29.9
1.2
1.1

do
- do
do

2.9
26.4
23.5

4.0
27.3
23.3

3.3
28.4
25. 2

.0
23.8
23.9

1.4
25.3
23.9

2.4
26.5
24.2

2.8
26.5
23.6

4.9
27.2
22.3

5.3
27.4
22.2

4.0
26.4
22.4

2.8
26.9
24.1

3.8
28.3
24.5

3.7
28.2
24.5

3.7
29.0
25.3

2.5
28.3
25.8

3.2
28.2
25.0

Govt. purchases of goods and services, total., do
Federal (less Government sales)
do
National defense 9
-do
State and local
do

99.7
53.2
45.7
46.5

107.4
57.0
49.0
50.4

117.3
62.4
53.4
55.0

96.5
52. 8
46.1
43.7

97.2
52.5
45.4
44.7

99.0
53.1
45.8
45.9

100.8
53.6
45.7
47.2

101.4
53.6
45.8
47.8

104.8
55.4
47.7
49.4

106.0
56.6
49.0
49.4

106.9
56.5
48.4
50.4

112.1
59.5
50.8
52.6

115. 2
61.9
53.0
53.3

116.0
62.1
53.2
54.0

118.2
62.7
54.0
55.5

120.7
63.4
54.2
57.3

499.4
254.1
95.0
159. 2
188.6
56.7

516.6
257.2
94.0
163.3
200.7
58.6

550.6
273.7
102.9
170.8
214.8
62.1

481.4
245.7
91.9
153.8
181.3
54.4

490.8
251.3
94.0
157.3
183.8
55.8

500.4
256.2
96.9
159.3
187.7
56.4

501.5
254.9
94.8
160.1
189.9
56.8

504. 4
254.1
94.2
160.0
193.1
57.2

504.4
251.6
90.2
161.4
195.9
56.8

511.0
254.4
92.6
161.8
199.0
57.5

518.3
257.8
94.3
163.5
201.3
59.2

532. 6
265.0
98.8
166.3
206.6
61.0

538.3
268.2
99.9
168.4
211.1
59.0

547.9
272.6
102.6
170.0
213.5
61.8

554.2
274.7
103.0
171.7
215.9
63.6

562.3
279.2
106.4
172.8
219.5
63.7

4.1
2.3
1.8

2.1
.0
2.1

3.2
1.6
1.6

7.1
2.6
4.5

10.8
8.6
2.2

4.4
2.8
1.6

2.1
1.0
1.1

-1.1
-3.3
2.2

Gross private domestic investment, total — do
New construction
Residential nonfarm
Producer^' durable equipment
Change in business inventories
\"onfarm

do
do
do
do
do -

Net exports of goods and services
Exports
Imports

By major type of product:*f
Final sales total
Goods output, total
Durable goods
Nondurable goods
Services
Construction

_

Inventory change, total
Durable goods
Nondurable goods

do
-do
- do
do
do
__do__._
do
do
do

r
Revised.
t Re vised series. Estimates of na tional in come anc1 product and per sonal
income have been revised back to 1959; revisions prioi• to May 1961 for ipersonal ncome a poear
oil p. 13 of the July 1962 SURVEY.
^Includes in rentory valuatior i adjustrnent.
©In-




2.1
4.0
-3.6
6.0
4.0
6.7
1.0
1.2
-1.3
-5.5
3.4
3.5
3.5
1.9
1.9
-.8
3.4
2.5
.6
1.9
3.1
2.2
-.9
2.0
eludes d ata not s 10 wn sep arately.
9Go\T ernment sales are not dediicted.
*For qu arterly
data ba 3k to 194 7, see p. i55 of the July 1962 SURVEY

S-l

SURVEY OF CURRENT BUSINESS

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

1960

1961

1962

Annual total

1961

1960
I

II

February

III

IV

I

II

1962
III

IV

I

19(53
III

II

IV

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.f
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
Qro^s national product, totalt
Wl. $--

440.2

447.9

471.9

440.9

442.3

439.7

437.7

433.9

443.9

450.4

463.4

467. 4

470.8

471.6

477.7

298. 3

304. 3

318.2

295.6

299.7

299.1

298.8

298.2

302.5

306.0

310.6

313. 9

316.9

319.0

322. 8

-do __ 42.2
141.4
do
114.7
do

41.6
143.3
119.4

45.2
148.5
124.5

42.4
140.6
112.6

43.0
142.3
114. 5

41.8
141.9
115. 4

41.8
140.7
116.3

39.0
141.5
117.7

41.3
142.3
118.8

41.7
144.4
120.0

44.4
144.9
121.4

44.1
147.0
122.8

44.6
148.1
124.1

44.6
149. 5
125.0

47.6
149. 3
126. 0

Personal consumption expenditures, total -.do
Durable goods
Nondurable goods
Cervices

.

do

60.7

57.8

63. 3

66.7

61.5

58.6

55. 8

50. 0

56.5

60.4

64.1

63.3

64.1

62.4

62.8

New construction
Producers' durable equipment
Change fa. business inventories

do
do
do

34.3
22.7
3.7

34.8
21.1
2.0

36. 5
23.8
2.9

34.6
22. 6
9.6

34.2
23.3
4.0

34.0
22.7
1.9

34.3

33. 0
20.1
-3.0

34.3
20.2
2.0

35.6
21.3
3.5

36.1

34.6
22 8
5.9

36.7
23.8
3.7

37.7
24.0
.8

36.8
24.8
1.3

Net exports of goods and services

do

1.5

1.8

.5

.2

1.0

1.5

3.3

3.5

1.7

.7

1.4

1.3

-.3

.5

79.8
42.3
37.4

84.0
44.5
39.4

89. 9
48.7
41.2

78.4
42.0
36.4

80.0
42.9
37.1

80. 5
42. 7
37.8

79. 9
41.8
38.1

82.2
42.9
39. 2

83.3
44.4
38.9

83.3
44.1
39.2

87.2
46.7
40.5

88.9
48.3
40.6

89.2
48.6
40.6

90.5
49.0
41.5

91.6
49.3
42.3

400. 8
51.4
349. 4

416.4
52.8
363.6

440. 5
57. 6
382.9

395. 4
51.4
344. 0

401.4
51. 9
349.6

403. 1
51.4
351.7

403. 7
50. 9
352. 7

405. 4
51.0
354. 3

413.5
52.5
361.0

419.4
53. 0
366. 3

427.3
54.6
372.6

432. 0
56.4
375. 6

439.5
57.7
381. 8

442. 6
58.5
384. 1

448.0
58.7
389. 3

20.9

25.6

26.2

20.1

19.7

22.0

22. 2

23.8

25.5

26.3

26.5

25.4

26.9

26.0

25.8

8.92

8.59

2 9. 35

7.89

9.28

8.98

9.53

,w

8.61

8.65

9.54

8.02

9.50

9.62

i 10. 28

Gro^ private domestic investment total

Government purchases of goods and services, total
bil. $..
Federal
--do _
State and local _ _ _
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data, Seasonally Adjusted at Annual Rates
Personal income total
bil $
T ess* Personal tax and nontax payments
do
p]qirils- Disposable personal income
do
Personal savins §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals or averages:
All industries
..
bil. $..

99 9

99 7

"5.4

2

8. 48

Manufacturing
Durable goods Industries
Nondurable goods industries

do_- .
do
-do

3.62
l.SO
J.82

3.42
1.57
1.85

3.70
1.79
1.91

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

3.31
1.50
1.84

3.88
1.79
2.09

3.14
1.44
1.69

3.69
1.77
1.92

3.72
1.79
1.93

4.26
2. 15
2.11

3. 33
1. 57
1.76

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

-do
do. _ _
do
-_do
do

.25
.26
.48
1.42
2.89

24
. 17
.46
1.38
2.92

.28
. 22
'.51
1.38
3.28

•M
.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

.25
.16
.47
1.50
2.94

.26
.16
.50
1.54
3.20

.26
.16
.47
1. 06
2.94

.27
.26
.60
1.37
3.30

.28
.24
.50
1.54
3.35

.30
.21
.48
1.50
3.53

.26
.17
.40
1.07
3.26

do

35.15

36. 30

35.90

35.50

33.85

33.50

34.70

35.40

35. 70

36.95

38.35

i 38. 35

2 37. 70

do

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
6.50
7.25

13.50
6.20
7.30

13.65
6.10
7.55

14.00
6.40
7.60

14.20
6. 55
7.60

14.45
6.95
7.50

15.05
7.25
7.80

15.50
7. 75
7. 75

14. 95
7.10
7.85

1.00
1.00
2. 00
5. 75

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

1.00
.65
1.90
5.65
11.85

1.00
.60
1.95
5.55
12. 35

1.15
.70
2.05
5. 15
12. 45

1.05
.95
2.25
5.40
12.85

1.10
1.00
2.00
5.75
13.40

1.15
.80
1.80
5.40
13.70

1.15
.70
1.80
5. 30
13.80

4,690

4,710

4,720

4,730

4,740

4,750

4, 760

4,770

4,780

4,790

4,800

4,810

_

Seas. adj. qtrly. totals at annual rates:
All industries
Durable goods in d'ustries
Mining

do ..

Transportation, other than rail
do
Public utilities
do_...
Commercial an d other
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally ads 4, 658 3 4, 713
iusted)
thous
U.S. BALANCE OF INTERNATIONAL
PAYMENTS}
Quarterly Data are Seasonally Adjusted
U S payments recorded
mil $

p

f

f

J

-

nr)\+n] OlltflOWS

rivat ca Mtal
Direct investments
Tvong-term portfolio
Short term
tJ S receipts recorded
Exports:
Merchandise
Services and military sales
__
Repayments on U" S Oovt loans
Foreign capital other than liquid funds

31, 805

7, 549

7, 690

8, 000

8, 078

7, 690

7,411

8,082

8,622

8,283

8,093

8,282

14, 723
3, 048
5, 417
842
3,405

14, 514
2, 947
5, 462
878
4, 051

3, 801
771
1,347
204
768

3. 836
'758
1, 375
205
833

3, 664
797
1, 368
211
826

3, 422
722
1, 327
222
978

3. 369
770
1,309
221
962

3,417
756
1,337
221
804

3, 840
699
1,388
216
1,094

3,888
722
1,428
220
1,191

3, 920
752
1.390
234
1,040

4,032
746
1,450
223
1, 059

4,130
730
1,473
221
1, 118

do
do
do
do

3,882
1, 694
850
1,338

3, 953
1,475
1, 006
1,472

658
324
236
98

683
271
209
203

1.134
415
170
549

1. 407
684
235
488

1,059
457
120
482

876
269
218
389

845
429
194
222

1,173
320
474
379

947
230
397
320

583
400
284
-101

610
300
137
173

do

27, 984

29, 946

6. 865

7,055

7, 002

7,062

7, 400

7,953

6,979

7,614

7, 685

8,001

8,057

do
__do _
do
do

19, 459
7,554
636
335

19,915
8, 151
1,274
606

4, 657
1.827
170
211

4,876
1. 909
147
123

4, 940
1,843
172
47

4, 986
1, 975
147
-46

5, 061
2, 008
133
198

4,768
2, 060
851
274

4.940
1. 951
81
7

5, 146
2,132
209
127

5, 063
2,189
143
* 290

5. 339
2, 326
220
116

5,170
2. 200
616
71

-684

-635

-998

-1,016

-140

-159

-297

do
__do
dO

-3, 333 -1,859

-592

— 602

-3.925 -2,461
Major special transactions

4, 752

31, 317

Imports:
Military expenditures
Other services

3

-do

-524

129

4

-680

-775
-80

680
69f
-3, 401 -2, 590
Total excluding special transactions
do
r
Revised.
* Preliminary,
i Estimates for Oct. -Dec, 1962 based on anticipated capital exf enditures of business.
2 Estimates for Jan .-Mar. 1963 based on antici sated capital exj>enditures of business.
Anticipated expenditures for the year 1962 are as f ollows (in bil. $) : All industries, 37.41;
manufacturing, total, 14.80; durable goods industr ies, 7.15; nondur able goods industries,
7.65; mining, l.ll; railroads, .86; transportation, 2.0 4- public utilities , 5.47; commercial and
other, 13.13.

3 Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1962



-1,157 -1,313
-444

-290
-29

-319

542 -1,103 -1,008

-366
176
724

193

-910
—75

-400

-1,408
-520

-598
106

-492
100

-92

-225

-134

-494

-226

-719

76

p-780

473

-319
-548
-1,157 I -869
-835
-888
-592
-302 -1,192
4
Includes chang es in no iliquid (lovt. lia bilities.
is based on inc omplcte data.
spending note 011 p. S-l (revisions
prior to 3d qtr. 1959 app 3ar on p. 8 ff. of
t See corre
URVEY.)
the July 1962 S
§ Personal saving is excess of disposable inconle over rj ersonal c onsumpt ion expenditures
shown as a con iponent of gross national product o Q p. S-l.
t More co]nplete details are given in the qi larterly '•eviews i n the M ar., June, Sept.,
and Dec. issue s of the SURVEY. Revisions prior to 4th q tr. 1959 \ vill be a\ ailable later.

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