Full text of The National Income and Product Account : Revised Second Quarter 1963

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BUSINESS STATISTICS
A 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 (f), 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

1960
II

Annual total

III

1961
IV

I

II

1963

1962
III

IV

I

II

III

IV

I

II

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
National income, totalf

bil $

414.5

426. 1

453. 7

416. 6

415.4

412.8

411.1

423.2

429.0

441.0

444.7

452.4

455. 5

462.2

466. 7

474. 6

do

293.6

302.1

322.9

294. 6

295.8

293.9

294.0

300.1

304.4

309.9

316.0

322.5

325. 3

327.7

332. 0

338. 7

271.3
222.9
9.9
38.5

297.1
241. 6
10.8
44.7
25.7
49.8
36. 5
13.3
12.0

272.2
224.4
9.8
38. 0

273.3
224.2
9.9
39.1
22.5
46.1
33.8
12.2
12.1

271.3
221.6
10.0
39.7
22.5
46. 6
33.8
12.7
12.1

271. 2
220. 8
10.0
40.4
22.8
47.0
34.2
12.8
12.1

276. 9
225 8
10.0
41.2
23.1
47.6
35.0
12.6
12.1

281.0
228. 8
10.0
42.2
23.4
48.3
35.7
12.6
12.1

286. 1
232. 5
10.8
42. 8
23.8
49.5
36.3
13.2
12.0

290.7
236.1
11.1
43.6
25.2
49.5
36.0
13.5
12.0

296.8
241.7
11.0
44.1
25.7
49.6
36.5
13.1
12.0

299.4
243.7
10.7
45.0
25.9
49.8
36.6
13.2
12.0

301. 5
244. 7
10.5
46. 3
26. 2

304. 5
246. 7
10.7
47.1

22.3
46.2
34.2
12.0
12.1

278.8
227.0
10.2
41.6
23.3
48.1
35.3
12.8
12.1

50.3
36.9
13.4
12.0

27.5
50 7
37.2
13. 5
12.0

310.8
252. 2
l6! 8
47.8
27.9
50. 0
37.4
12.6
12.0

44.5

43.8

47.0

45.2

43.2

41.5

38.8

43.6

44.0

48.6

46.1

46.5

46.1

49.3

48.8

50.1

43.8
22.0
21.8
15.3
6.5
.0

46.8
22.2
24.6
16.6
8.1
.2

45.4

42.1
21.2
20. 9
14.6
6.4
1.2

41.1
20.6
20.4
14.8
5.6
.5

38.5
19.4
19.2
15.0
4.2
.3

43.4
21.8
21.6
15.1
6.5
.2

44.3
22.3
22.0
15.2
6.8
-.3

48.9
24.6
24.3
15.8
8.5
-.3

45. 9
21.7
24.2
16.2
8.0
.1

46.7
22.1
24.6
16.4
8.2
-.2

46.2
21.9
24.3
16.5
7.8
-.1

48.4
22.9
25.5
17.1
8.4
.9

48.3
22.9
25.4
17.1
8.3
.4

51.0
24.2
26.8
17.6
9.2
9

Compensation of employees, total

Wages and salaries, total
_do
Private
do
Military _ _
_
_ _
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income, totald" 1
___ __do
Business and professional^
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
"
bil. $
Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
Dividends,
Undistributed profits
Inventory valuation adjustment

do
do
do
do
do
do

44.3
22.3
22.0
14.5
7.5
.2

22.3
47.0
34.6
12.4
12.1

22! 6
14.4
8.2
-.2

do

18.0

20.0

22.0

17.7

18.2

18.8

19.1

19.8

20.3

21.0

21.2

21.7

22.3

23.0

23.3

23.7

do

502.6

518. 2

554. 9

504.1

503.5

502. 1

500.4

512.5

521.9

537.8

544.5

552.4

556.8

565.2

571.8

579.6

Personal consumption expenditures, total _ _ d o

328.2

336. 8

355.4

329.7

328. 7

330.3

330.7

334. 9

337.9

343.8

348.8

352.9

356.7

362.9

367.4

370.4

44.9
18.8
19.1
151.8
28.1
79.5
11.7
131.5
19.5
41.9
10.7

43.6
17.1
19.2
155. 1
28.6
81.1
11.9
138.0
20.4
44.1
10.7

48 2
20'. 4
20.2

161.4
29.8
84.2
12.3
145.7
21.5
46.6
11.3

45.7
19.2
19. 3
153. 0
28.5
80.2
11.6
131. 0
19.5
41.5
10.7

44.6
18.3
19.1
152.0
28.3
79.4
11.8
132. 2
19.6
42.1
10.7

43.9
17.9
18.8
152.3
27.7
79.9
11.9
134.2
19.9
42.8
10.8

41.2
15.7
18.3
153.9
28.2
80.6
11.9
135.6
20.0
43.3
10.7

43.1
16.7
19.1
154.5
28.2
81.0
11.7
137.3
20.4
43.8
10.6

43.9
17.0
19.6
155. 3
28.6
81.2
11.9
138.8
20.6
44.4
10.7

46.4
18.9
20.0
156.9
29.3
81.6
11.9
140.5
20.8
45.0
10.8

47.3
19.7
20.0
158.9
29.7
82.7
12.1
142.6
21.3
45.6
11.1

47.5
20.1
19.8
160.6
29.5
83.9
12.2
144.8
21.5
46.3
11.3

47.7
19.8
20.3
162.5
29.9
85.0
12.3
146.6
21.5
46.9
11.4

50.5
22.2
20.6
163.6
29.9
85.2
12.6

50.6
22.0
20.9
165. 3
30.2
85. 8
12.8
151.4
22 2
48.2
11.8

51.0
22.3
20.7
165. 9
29.7
86.3
13.0
153. 5
22.4
48.8
12.1

do

71.8

69.0

78.8

73.3

70.9

65.3

59.6

66.6

72.0

77.6

77.3

79.6

78.9

78.8

77.8

80.7

New construction
Residential nonfarm
Producers' durable eouipment
Change in business inventories
Nonfarm.-__
- ___ _
-

do
do
do
do. _.
-do

40.7
21.1
27.6
3.5
3.2

41.6
21.0
25.5
1.9
1.5

44.4
23 2
28.8
5.5
4.9

40.7
21.2
28.4
4.2
3.9

40.5
21.0
27. 7
2.7
2.3

40.7
20.5
26.8
-2.3
-2.7

39.3
19.0
24.6
-4.3
-4.6

41.0
20.1
24.5
1.1
.8

42.6
21.9
25 8
3.5
3.2

43.2
22.8
27.1
7.2
6.9

41.7
21.2
27.4
8.1
7.6

44.5
23 3
28.7
6.5
5.8

46.0
24.2
29.3
3.6
2.8

45.0
23.7
29.9
4.0
3.2

43.7
22.7
29.0
5.1
4.3

45.8
24.8
30.7
4.3
3.6

Net exports of goods and services
Exports
Imports

. _.do. ._
do
do

3.0
26.3
23.3

4.4
27.5
23.1

3.8
28.9
25.1

2.3
26.3
24.0

3.3
26.7
23.4

4.9
27.0
22.1

5.4
27.5
22.1

4.3
26.5
22.2

4.1
27.8
23.7

4.0
28.3
24.2

3.3
27.9
24.6

4.4
29.5
25.0

4.1
29.4
25.3

3.3
28.8
25.5

3.6
28.6
24.9

4.8
30.7
25.9

99.6
53.1
45.7
46.5

107.9
57.4
49.0
50.6

117.0
62.4
53.3
54.6

98.9
52.9
45.6
46.0

100. 5
53. 5
45.9
47.0

101.6
53. 7
45.9
48.0

104.7
55. 4
47.5
49.3

106. 8
57.1
49.0
49.7

107.9
57.1
48.6
50.8

112.3
59.8
50.9
52.5

115. 1
61.8
52.5
53.3

115.5
61.9
52.9
53.6

117.0
62.4
53.5
54.6

120.2
63.6
54.3
56.6

123.0
65.5
56.4
57.5

123. 8
66. 5
56.7
57.3

499.1
253.7
94.2
159. 5
188.8
56.7

516.3
257.3
93.8
163.5
200.4
58.6

549. 3
272.8
101.5
171.3
214.5
62.1

499.9
254.8
94.4
160.4
188.8
56.3

500. 7
254. 1
93.8
160. 3
189.9
56.8

504.4
254. 3
93.2
161.1
192.8
57.3

504. 7
252. 8
90.6
162.2
195.3
56.7

511.4
254.6
92.1
162. 5
199.1
57.7

518.3
257. 6
94.3
163. 3
201.5
59.2

530.5
264.0
98.2
165.8
205.7
60.9

536. 3
268.1
99.9
168.2
209.0
59.2

546.0
270.7
99.9
170. 8
213.5
61.8

553. 1
274.8
102. 6
172.1
215. 2
63.1

561. 2
277.4
103.5
174.0
220.2
63.6

566. 6
281.7
106. 3
175. 3
222. 5
62. 5

575. 4
285. 6
109. 6
176.0
226. 5
63. 3

Net interest

-

Gross national product, totalf

Du r able goods total 0
do
Automobiles 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 0
do
Household operation
do _
Housing

Transportation

_

_ _

_

do-

_

do

Gross private domestic investment, total

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

_

do _
do
do _
do
do
do

3.5
5.5
4.2
Inventory change, total
do
2.7
1.9
2.3
1.4
-.4
2.5
2.9
Durable goods
do
1.1
2.2
2.6
1.7
Nondurable goods
do
1.3
•• Revised, f Revised series. Estimates of national inco me and product and per sonal
income have been revised back to 1959 (see p. 12 IT. c)f the Jul y 1963 SiJRVEY) ; i*e visions prior
to May 1962 for personal income appear on p. 19 Df the J lly 1963 SURVE\ . cflnc ludes




148.9
21.8
47.6
11.6

-2.3
-4.3
8.1
3.5
7.2
4.0
3.6
1.1
5.1
6.5
4.3
-2.7
2.0
-1.5
6 6
3.1
4.8
4.7
2.5
1.1
1.3
3.0
.4
2.6
2.3
1.2
3.3
1.5
2.5
2.6
3.4
4.0
1.3
inven :ory valilation a<I just men t. 0Incjludes deita not shown se parately
9Gov eminent
sales iwe not d 3ducted. *For qilarterly I at a bac' i to 1947, see p. 35 of the J ily 1962 SURVEY.

S-l

September 1963

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 j 1962
Annual total

1961

1960
IV

I

II

1962
III

IV

II

I

1963
III

I

IV

II

III

1
i

IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.f
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
Gross national product totalt
-- -foil. $__
Personal consumption expenditures, total.. do
Durable goods
Nondurable goods
Services

do
do
do

Gross private domestic investment, total. __do
New construction
Producers' durable equipment
Char.ee in business inventories

do
do __.
do

439.9

447.7

474.8

437.1

434.0

443.4

450. 4

463. 1

467.8

474.0

475.6

481.4

485.3

489.4

298.1

303.6

317.6

298.6

298.5

302.2

304. 5

309.2

313.0

315.9

318.6

322.9

325.5

327.0

42.2
141.4
114.5

4.1.5
143.3
118.9

45.6
147. 8
124.3

41.6
140. 7
116.4

39.3
141.9
117.3

40.9
142. 9
118.4

41.6
143. 5
119.4

44.1
144.7
120.4

44.7
146.0
122.3

44.7
147.4
123. 8

45.0
148.8
124.8

47.8
148.9
126.2

48.1
150. 1
127.3

48.0
150. 5
128.5

60.2

57.5

65.2

54.5

49.7

55.6

59.9

64. 7

64.4

66.0

64.8

65.2

64.6

66 4

34.4
22.7
3.1

34.7
21.0
1.7

36.7
23.8
4.8

34.3
22.1
-1.9

33.1
20.2
-3.6

34.2
20.2
1.2

35 5
2l! 3
31

36.0
22.4
6.3

34.7
22.7
7.0

36.8
23.6
5.7

37.8
24.2
2.9

36.9
24.8
3.4

35.7
24.0
4.9

37 3
25.3
3.8

1.7

2.3

1.8

3.4

3.6

1.9

1.9

1.7

.9

2.6

2.3

1.4

1.8

Government purchases of goods and services, total
bil. $..
Federal
do
State and local
- - do _

79.9
42.3
37.6

84.3
44.8
39.5

90.2
49.0
41.2

80.6
42.2
38.4

82.3
43.1
39.1

83.7
44.6
39.1

84.2
44.6
39.5

87.4
47.0
40.4

89.4
48.7
40.7

89.5
48.8
40.7

89.9
48.8
41.1

91.9
49.6
42.3

93.4
50.6
42.9

93 2
51.0
42 1

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil. $
Less: Personal tax and nontax payments
do
Equals- Disposable personal income,
do- _ _

401.3
51.4
349.9

417.4
52.9
364.4

442. 1
57.7
384.4

404.3
50.9
353.4

406. 6
51.3
355. 3

414. 5
52.5
362.0

420.2
53.0
367. 2

428.0
54. 9
373.1

433. 5
56.2
377.3

440.7
57.9
382.7

444. 5
58. 1
386. 5

449.9
58.5
391.4

453.9
59.4
394.5

459.9
59.9
400. 0

21.7

27.6

29.1

23.0

24.5

27.1

29.2

29.3

28.5

29.8

29.7

28.5

27.1

29.6

8.92

8.59

9.33

9.53

7.57

8.61

8.65

9.54

8.02

9.50

9.62

10.18

8.25

'9.74

i 10. 09

- 11. 00

do __
do
do

3.62
1.80
1.82

3.42
1.57
1.85

3.67
1.76
1.91

4.01
1. 95
2.06

3.00
1.41
1. .59

3.46
1.58
1.88

3.34
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

4.13
2.03
2.10

3.27
1.62
1.05

' 3 92 '3.92
1.94
1. 96
'1.95 ' 1.9S

4.49
2.25
2.24

do
do
do
do
do

.25
.26
.48
1.42
2.89

.24
.17
.46
1.38
2.92

.27
.21
.52
1.37
3.29

.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

.27
.20
.50
1.52
3.55

.24
.21
.39
1.04
3.11

'.28
' .54
'1.40
'3.36

Net exports of goods and services

do

Personal savin & §
do .
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadj usted quarterly totals or averages:
All Industries
_
bil. $
Manufacturing
__
Durable goods industries
Nondurable goods industries
Mining
.
Railroads
Transportation other than rail
Public utilities
Commercial and other.
Seas. adj. qtrly. totals at annual rates:
All industries

-

2

.»

do

35.50

33.85

33.50

34. 70

35.40

35.70

36.95

38.35

37.95

36. 95

Manufacturing
j-Jurduie gooubmuubiiieh--

do
uu

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

15.00
7.30
7.70

14.85
7.35
7.50

Mining
Railroads

do
do

Public utilities

do

.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

1.00
.80
1.90
5. 45
13.80

1. 05
.90
1.70
5.20
13.20

4,755

4,730

4,740

4,750

4,760

4,770

4, 780

4,790

4,800

4,815

4,825

4,835

31, 778

33, 254

7,993

7,673

7,535

7,917

8,653

8,246

8,316

8,214

8,478

8, 420

9,653

14,723
3,048
5,434

14, 497
2,934
5,436

16, 145
3,028
5,791

3,422
725
1,335

3,386
773
1,318

3,404
764
1,338

3,826
680
1, 365

3,881
717
1,415

3,942
754
1,423

4,030
748
1,444

4,127
732
1,423

4,046 ' 3, 970 4,135
' 748
717
794
1,501 ' 1, 499 1, 557

BUSINESS POPULATION
Firms In operation, end of quarter (seasonally adjusted)
thous

3 4, 658 3 4, 713

U.S. BALANCE OF INTERNATIONAL
PAYMENTS}
Quarterly Data are Seasonally Adjusted
U.S. payments, recorded
mil. $__ 31, 174

3

r

Remittances and pensions
Govt. grants and capital outflows

do _
do

672
3,405

705
4,056

736
4,281

177
957

187
985

171
856

173
1,029

174
1,186

191
1, 075

182
1,078

176
1,045

187
1,083

r 212
r 1, 062

207
1,355

U.S. private capital (net)
Direct investments
Long-term portfolio
Short-term

3,892
do
do . . 1,694
850
do
1,348
do

4,150
1,598
1,011
1,541

3,273
1,557
1,209
507

1,377
688
215
474

1,024
458
94
472

1,002
344
219
439

844
399
234
211

1,280
397
464
419

801
199
357
305

834
506
329
i

71J
359
188
164

867
493
335
39

'929

-•501
'512

1, 682
462
619
601

30, 313

32, 093

7,001

7,428

7,956

7,247

7,682

7,688

7,901

8,327

8,177

' 7, 691

8,323

19, 459
7,515

19, 913
8,398

20, 479
9,311

4,986
1, 942

5, 050
2, 038

4,755
2,088

4,987
2,120

5,121
2,152

5,022
2,184

5, 262
2,348

5,270
2,280

4,925
2,499

' 4, 988
r 2, 440

5, 466
2,441

636
366

1,274
728

1,283
1,020

133
-60

128
212

851
262

99
41

196
213

155
327

237
54

601
176

290
463

' 176
'87

189
227

-1,465 -1.161
-905 -1,025

-992
-265

-245
-227

421
-390

-670
15

-971
-303

-558
-27

-415
-37

113
-469

-301
492

' -729 -1,330

-472
Total, net receipts or payments (— )
do
-3,881 -2,370 -2, 186 -1,257
Net receipts or payments (— ), incl. transactions in
nonmarketable, medium-term convertible Gov't.
securities,.
_ _
_ .
mil. $__
'Revised.
*> Preliminary.
1 Estimates for July-Sept. 1963 based on anticipated capital expenditures of business.
2
Estimates for Oct.-Dec. 1963 based on anticipated capital expenditures of business.

31

-655

-1,274

-585

-452

-356

-793

'

Exports:
Merchandise
Services and military sales

do
__do

Repayments on U.S. Govt. loans
do ...
Foreign capital other than liquid funds (net). do
Excess of recorded receipts or payments (— )___do
Unrecorded transactions
do

27, 976

-3, 198
-683

other, 13.86.

3 Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1963


r

-84

r 1. 59
r 3. 58

-27
.31
.51
1.61
3.81

-41.15
' 15. 30 ' 15. 85 16. 30
7. 65
' 7. 90 8. 10
' 7.65 ' 7 . 9 5
8.20
1.00
1. 05
1.00
' 1. 00 ' 1. 20 1 . 25
'2.05
• 1. 85
1.95
' 5. 45 ' 5.95
5. 85
' 13. 30 ' 14. 10
14. 75

do
do
do

do__

'.27
' .2ft
' .46

' 38. 05 i 39. 95

Imports:
Merchandise
Military expenditures
Other services

U.S. receipts, recorded

r

••-122

68

-851

1 262

........

r-501 — 1,110
(based on incomplete data) is 4,797,000.
t See corresponding note on p. S-l (revisions prior to 3d qtr. 1960 appear on p 12 ff of
the July 1963 SURVEY).
"
§ Personal saving is excess of disposable income over personal consumption expenditures
shown as a component of gross national product on p. S-l.
t More complete details are given in the quarterly reviews in the Mar , June, Sept
and Dec. issues of the SURVEY. Revisions prior to 3d qtr. 1960 will be shown later.