Full text of The National Income and Product Account : Third Quarter1964

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BUSINESS STATISTICS
A HE STATISTICS here update series published in the 1963 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 1959 through 1962 (1951-62, 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 1963 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) and a dagger (f), respectively; certain revisions for 1962 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the August 1963 issue. Also, unless otherwise noted, revised monthly data (for periods not shown herein) corresponding
to revised monthly averages are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1961

| 1962 | 1963

1961
III

Annual total

Data from private sources are provided

1962

' 1 "

| IV

1964

1963
III

| IV

II

I

| III |

IV

I

II

III

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
__bil. $__

426.9

455.6

478.5

429.7

442.4

447.2

454.3

457.8

463 2

467.9

474.6

481.9

490.0

498 4

507 1

514 5

__ do

302.2

323.1

340.3

304.7

310.7

316.6

322.4

325.3

328 0

332 7

338 1

342 7

347 7

352 5

358 6

364 8

Wages and salaries, total
do _. - 278.8
227.0
Private
do
10.2
Military
do
41.6
Government civilian
__ do
23.4
Supplements to wages and salaries
do
48.2
Proprietors' income, totald"
do
35.3
Business and professionalcf
__ do
12.9
Farm
- do
12.2
Rental income of persons
do
Corporate profits and inventory valuation adjust44.1
ment total
foil
$

297.1
241.6
10.8
44.7
25.9
49.8
36.6
13.2
12.2

312.1
252.9
10.9
48.3
28.2
50.6
37.6
13.0
12.3

281.1
228.9
10.0
42.2
23.6
48.5
35.7
12.8
12.2

286.8
233.2
10.8
42.8
23.9
49.6
36.3
13.3
12 2

291.2
236.5
11.1
43.6
25.4
50.0
36.3
13.7
12 2

296.6
241.5
11.0
44.1
25.8
49.9
36 6
13.3
12 2

299.2
243.5
10.7
45.0
26.1
49.7
36 7
13.0
12 2

301 6
244 8
10.5
46 3
26.4
49.7
36 9
12 8
12 2

305 3
247.5
10.6
47 2
27.4
50.3
37 1
13 2
12 3

310 1
251.6
10.7
47 8
27.9
50.1
37 3
12 8
12 3

314 3
255.0
10.7
48 7
28.4
50.7
37 8
12 9
12 4

318 8
257.6
11.7
49 6
28.8
51.5
38 3
13 2
12 4

323 2
260.8
11.7
50 7
29.4
51.2
38 6
12 6
12 4

328 7
265 3
11 7
51 7
29.9
51.7
39 1
12 6
12 4

334 4
^69 4
11 8
53 2
30.4
52.1
3q g

48.4

50.8

44.0

49 0

47 1

48 0

48 3

50 3

49 1

50 2

51 4

53 1

56 4

57 9

CO 1

44 2
22.3
21.9
15 2
6.7
-.1

48.2
23.2
25.0
16.5
8.5
.3

51 3
24.6
26.7
18 0
8.7
-.4

44 3
22.3
22.0
15 1
6.9
-.3

49 3
24 8
24.5
15 7
88
—.3

47 2
22 7
24.5
16 1
84
—.1

47
23
24
16
8

48 1
23 I
25 0
16 5
85
1

49
23
25
17
8

48
23
25
17
8

51 1
24 5
26 6
17 7
89
— 9

51
24
26
17
8

54 3
26 0
28 3
19 1
9 2
12

56 6
25 4
31 2
19 4
11 8
2

57
26
31
19
12
_

CQ n
26 0
39 Q
20 0
12 0
I

do

20.1

22.1

24.4

20.4

20 9

21.3

21 8

22 3

22 9

23 5

24 0

24 7

25 4

25 9

26 5

27 1

do

518.7

556. 2

583.9

522. 4

536.9

545.5

553.4

559.0

566. 6

571.8

577.4

587.2

599.0

608.8

618.6

628.4

Personal consumption expenditures, total.. do

337. 3

356.8

375.0

339.1

345.2

350. 5

354.0

358.5

364.0

369.2

372.0

377.4

381.3

390.0

396.1

404. 6

43 7
17.1
19.3
155.4
28 7
81 3
11 9
138 3
20 4
44 2
10 7

48 4
20.6
20.2
162.0
29 9
84.6
12 3
146 4
21 6
46 5
11 3

52 1
22.7
21.4
167.5
30 7
87 1
12 8
155 3
22 7
48 9
11 7

44 3
17.4
19.5
155. 7
28 7
81 4
11 9
139 1
20 6
44 4
10 7

46 0
18.6
19.9
157.8
29 4
82 2
12 0
141 4
20 9
45 0
10 8

47 4
19.7
20.1
159.5
29 6
83 2
12 2
143 6
21 3
45 6
11 1

47 7
20.3
19.9
161.0
29 7
84 1
12 2
145 3
21 3
46 2
11 2

48 4
20.5
20.3
162.9
30 0
85 2
12 3

en 9

ei -I

ei e

eo 9

eq C

ee Q

K7 A

21.8
20.6
164.4
30 2
85 9

22.4
20.8
166.0

22.6
21.0
166.6
30 1
86 9

22.6
21.6
168.6

23.2
22.3
168.9

24.3
23.1
172.9

198

87 3

19 Q

87 8

24.1
24.2
175.3
33 2
90 6

99 4
48 fi
U 7

4Q 9
U 7

U

82.8

87.1

85.9

87.2

87.3

National income totalf
Compensation of employees, total

Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax.—
Dividends
Undistributed profits
Inventory valuation adjustment
Net Interest
Gross national product, totalf.

do
_ do
do _
' do
do
do _

Durable goods, total ®
do
Automobiles and parts
do
Furniture and household equipment-.-do
Nondurable goods, total 0
do
Clothing and shoes
_
.do
Food and alcoholic beverages
do ..
Gasoline and oil
do
Services, total ©
do
Household operation
do
Housing
_
do
Transportation _
do
Gross private domestic investment, total _ _ . do

9
0
9
4
5

o

4
8
7
1
6
9

i9 c

147 9
91 7

14Q ^

46 8
11 4

47 ^

99 n
U

C

9
4
5
2
3
2

qn A

86 4
197
99 4
48 fl

U

c

3
5
7
9
9
2

qi q

qn n

iq o

q9 i

QQ

7

1q q

9
0
9
8
1
i

1q e

J9 6

12 4

25.6
24.2
179.5
qq o
Q9 R
1q

c

94 n
ri i
•199

An o
o

68.8

79.1

82.0

71.3

74.9

77.4

78.9

80.2

79.9

77.9

80.2

New construction
Residential nonfarm
Producers' durable equipment
Change In business inventories
Nonfarm

do
do
do
do
do

41 0
21.1
25.9
1.9
15

44 2
23.6
29.0
5.9
53

46 6
25.2
31.0
4.4
39

41 3
21.5
26.3
3.7

41 9
22.1
27.4
5.6

42 5
22.5
28.1
6.9

45 5
24.4
29.6
5.14

44 Q

44 7

AR Q

A

44 1
23.6
28.8
6.1c

24.0
29.7
5.4

24.3
29.6
3.6

25.1
30.7
3.6

25.4
31.4
4.2
3. 7

26.2
32.4
6.4

26.9
34.2
2.5
2. 2

26.2
34.6
3.7

25.7
35.6
2.8
2. 7

Net exports of goods and services
Exports
Imports

do
do
do

4.6
27 6
23 o

4.0
29 2
25 2

4.4
30 7
26 3

4.2
27 8
23 7

4.3
90 A

3.4

no

4.3

4.4

3.9

3.4

4.3

4.2

24 6

5.8
32. 6

7.7
34. 5

5.7

24 1

7.0
35. 7

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

108.0
57.4
49 0
50 6

116.3
62.9
53 6
53 5

122.6
64.7
55 2
57 9

107.9
57.1
48 6
50 9

112.6
59.8

114.3
61.4

118.7
63.8

121.4
65.1

120.9
64.3

122.8
64.4

124.8
64.9

125. 2
64.3

129.6
67.1

52 8

52 8

129.5
65.5
55. 2
64. 1

By major type of product:!
Final sales, total
Goods, total
Durable goods
Nondurable goods..
Services
Construction

do
do
do
IIIIIdo"II
"do
do

516 8
257 9
94.5
163.4
200 8
58 1

550 3
273 g
102.3
171.3
214 7
62 0

579 5
285 8
108.2
177.6
228 4
65 2

c-io 7

rqi

A

258 8
95.' 4
163.4
201 8
58 2

f)(\A

O

98.4
166.5

592. 6
290. 3
110.4
179.9
234. 5
67.8

606. 4
298. 2
114.3
183.9
239. 6
68. 6

614.9
304.3
119.0
185.4
241. 7
68. 9

625.7
310. 5
120.7
189.8
246. 0

do _.
Idol""
LIdoIII"

1.9
-.1
2.0

5.9
3.0
2.9

4.4
2.2
2.2

3.7
2.3
1.4

Inventory change, total
Durable goods
Nondurable goods




q q

5

9

en Q

90fi 8
CQ 7

5.6
3.6
2.0

&

59

f)

c

5

9Q fi
9K q

116.1
63.6
ec q
en

c

9fiS Q

970

e

100.2
168.7
91 n n

103.5
170.0

4

9C q

115. 9
62.4
eq

e

58. 4

COO 7

CQ

0

6.9
3.9
2.9

fii f\

101.4
172, 6

104.1
174.1

568. 2
280. 9
105.0
175.8
224. 7

573. 7
111.0
175.5
223. 5

6.1
5.1
5.4
3. 6
3.6
3.1
3.1
1.8
1.5
2.7
3.0
2.0
3.6
2.0
.9
^Includes inventory valuation adjustment.
9 Government sales are not deducted.

583. 0
285. 7
106.6
179.1
231. 2
66. 2
4.2
1.5
2.7
©Includes

6.4
2.5
2.8
3.7
3.0
.7
1.3
2.5
3.4
1.5
1.8
1.2
data not shown separately.

s-l

December 1964

SURVEY OF CUKRENT BUSINESS

S-2
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1961

| 1962

1963

Annual total

I

II

1964

1963

1962
III

IV

I

II

III

IV

II

I

1965
III

IV

I

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

..

.

__

do
do
do

Gross private domestic Investment total

447.9

476.4

492.6

469.1

475.1

478.3

483.0

485.4

487.9

494.8

502.0

508.0

513.5

519.6

303.8

318.5

330.6

314.2

316.6

319.8

323.6

327.0

328.6

332.4

'334. 4

340,9

345.0

351.8

41.4
143.5
118.9

45.7
148.3
124.5

49.3
151.6
129.7

44.8
146.6
122.7

44.9
147.8
123.8

45.6
149.1
125.0

47.6
149.5
126.5

48.5
150.7
127.8

48.6
151.1
128.9

49.4
152.5
130.6

50.8
152.1
131.6

53.1
155.2
132. 6

54.0
157.4
133.7

55.6
160.9
135.3

do

57.4

65.9

67.7

64.8

65.8

66.3

66.5

64.7

66.2

68.1

71.7

70.1

70.8

70.4

New construction
Producers' durable equipment
Change In business Inventories

do
do
do

34.3
21.4
1.7

36.7
24.0
5.2

37.9
25.6
4.1

35.5
23.2
6.1

36.6
23.8
5.4

37.5
24.4
4.4

37.0
24.7
4.9

36.8
24.6
3.4

37.5
25.4
3.3

38.2
25.9
4.0

39.0
26.8
5.9

39.6
28.1
2.4

39.2
28.3
3.3

38.6
29.2
2.5

Net exports of goods and services

do

2.5

2.2

2.2

1.3

2.8

2.8

2.1

1.3

2.1

2,0

3.5

5.4

3.4

4.5

Go vt. purchases of goods and services, total.. do
Federal
do
State and local
do

84.3
44.8
39.4

89.8
49.4
40.3

92.1
49.7
42.4

88.8
48.4
40.4

89.9
50.2
39.8

89.4
49.2
40.2

90.7
49.9
40.9

92.4
50.7
41.8

91.0
49.4
41.7

92.3
49.6
42.7

92.4
48.9
43.4

91.6
47.8
43.8

94.3
49.8
44.5

92.8
47.8
45.0

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal Income total
bll $
Less: Personal tax and nontax payments
do
Equils* Disposable personal Income
do

417.6
52.9
364.7

442.4
57.9
384.6

464.1
61.6
402,5

434.7
56.1
378.5

441.0
57.6
383.4

444.5
58.5
386.0

449.7
59.3
390.4

455.2
60.1
395.1

460.2
61.1
399.1

466.3
61.9
404.4

474.5
63.3
411.2

480.9
61.4
419.5

487.9
57.7
430.2

494.5
58.8
435.6

27.3
Personal savin** §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All Industries
_
bll. $.. 34.37

27.8

27.5

28.0

29.4

27.5

26.4

25.9

27.1

27.0

29.9

29.5

34.0

31.0

37.31

39.22

8.02

9.50

9.62

10.18

8.25

9.74

10.14

11.09

9.40

11.11

Manufacturing
Durable goods Industries
Nondurable goods Industries _

do __
do
do

Mining
_ _
_
do
"Railroads
_. do
Transportation, other than rail
do
Public utilities
do
Communications
do
Commercial and other
__ .
do
Seas. adj. qtrly. totals at annual rates:
All industries

4.43
2.19
2.24

'.32
'.41
'.57
'1.68

.29
.38
.53
1.27

34.11

33.68

2 47. 90

13.68
6.27
7.40

14.68
7.03
7.65

15.69
7.85
7.84

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
1.65

3.92
1.96
1.95

3.95
1.96
1.99

4.56
2.31
2.25

3.79
1.93
1.87

4.53
2.30
2.23

.98
.67
1.85
5.52
3.22
8.46

1.08
.85
2.07
5.48
3.63
9.52

1.04
1.10
1.92
5.65
3.79
10.03

.26
.16
.47
1.06
.88
2.06

.27
.26
.60
1.37
.93
2.37

.28
.24
.50
1.54
.87
2.48

.27
.20
.50
1.52
.95
2.60

.24
.21
.39
1.04
.85
2.26

.26
.28
.54
1.40
.95
2.41

.27
.29
.45
1.60
.93
2.64

.28
.33
.54
1.61
1.06
2.72

.26
.32
.51
1.18
.97
2.37

.29
.36
.63
1.58
1.10
2.61

'.30
'.37
'.59
'1.71
1.06
'2.84

35.70

36.95

38.35

37.95

36.95

38.05

40.00

41.20

42.55

43.50

' 45. 65 '146.70

15.30
7.65
7.65

15.95
8.00
8.00

16. 45
8.30
8.15

17.40
8.85
8.55

17.80
9.00
8.80

' 18. 85
9.60
9.20

1.25
1.20
1.75
1.50
2.30
2.40
6.00
6.30
4.40
' 11.00 '315.55 3

do
do

Public utilities
do
Communications
do
Commercial and other
do
BUSINESS POPULATION
Firms In operation, end of quarter (seasonally ad-

2 10. 58

' 5.51
'2.75
'2.76

'4.67
'2.37
'2.30

do

Mining
Railroads

' 11. 54'U2.60

14.20
6.55
7.60

14.46
6.95
7.50

15.05
7.25
7.80

15.00
7.30
7.70

14.85
7.35
7.50

1.15
.70
2.05
5.15
3.70
8.75

1.05
.95
2.25
5.40
3.65
9.25

1.10
1.00
2.00
5.75
3.60
9.85

1.00
.80
1.90
5.45
3.60
10.20

1.05
.90
1.70
5.20
3.55
9.65

1.00
1.00
2.05
5.45
3.65
9.65

1.05
1.20
1.85
5.90
3.85
10.20

1.05
1.35
2.10
5.80
4.05
10.45

1.15
1.40
2.30
5.95
4.05
10.25

1.15
1.25
2.25
6.30
4.30
10.45

4,875

4,895

44,755

< 4, 797

4,780

4,790

4,800

4,815

4,825

4,835

4,850

4,860

31, 791

33, 486

35, 990

8,447

8,151

8,312

8,576

8,724

9,713

8,482

9,071

' 9, 253 ' 9, 797 9,898

.do

14, 497
2,954
5,401

16, 134
3,044
5,843

16, 996
2,897
6,442

3,948
758
1,412

4,058
749
1,462

4,088
745
1,465

4,040
792
1,504

4,037
747
1,543

4,212
731
1,588

4,368
711
1,654

4,379
708
1,657

4,576
4,366
••728
717
' 1, 665 r 1, 704

do
do

705
4,054

738
4, 293

826
4,522

1,0*4

187

189
1,065

177
1,066

185
1,088

209
1,060

209
1,336

206
1,009

202
1,117

197
'928

208
1,130

214
1,075

do
...do
do
.do

4,180
1,599
1,025
1,556

3,434
1,654
1,227
553

4,307
1,888
1,685
734

1,068
260
390
418

628
446
303
-121

771
417
208
146

967
531
326
110

1,128
618
546
-36

1,637
477
598
562

534
235
303
-4

1,008
558
238
212

r 1, 380
r 521

' 1,451
'571
263
••617

1,408
519
586
303

do

30, 419

32, 394

33,685

7,706

7,925

8,408

8,355

7,780

8,429

8,596

8,880

' 9, 329 ' 9, 121

9,512

do .
do

19,913
8,525

20, 576
9,508

21,989
10,031

5,032
2,198

5,237
2,397

5,288
2,339

5,019
2,574

4,990
2,545

5,472
2,505

5,610
2,427

5,917
2,554

6,112 ' 6, 036 ' 6, 392
' 2, 888 ' 2, 803 2,802

1,274
707

1,280
1,030

969
696

150
326

237
54

606
175

287
475

166
79

190
262

424
135

189
220

216
113

-1,372 -1,092 -2,305
-998 -1,111 -339

-741
-7

-226
-214

96
-430

-221
-460

-944
-118

-1,284
-11

114
-267

-191
57

r -170

-440
-748
Total, net receipts or payments (— )
do
-2, 370 -2,203 -2, 644
Net receipts or payments (— ), Incl. transactions in
nonmarketable, medium- term convertible Govt.
1 Q10
securities
mil $
r
Revised.
'Preliminary.
i Estimates for Oct.-Dec. 1964 based on anticipated capital expenditures of business.
2
Estimates for Jan .-Mar. 1965 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1964 are as follows (in bil. $): All industries, 44.66;
manufacturing, total. 18.51; durable goods industries, 9.35; nondurable goods industries,
9.16; mining, 1.18; railroads, 1.46; transportation,
2.31; public utilities, 6.14; commercial and
3
other (incl. communications), 15.06.
Includes communications.

-334

-681

-1,062

-1,295

-153

-134

Imports:
Merchandise
Other services

do
_

Remittances and pensions
Govt. grants and capital outflows
U.S. private capital (net)
Direct Investments
Long-term portfolio
Short-term
_
U S receipts recorded
Exports:
Merchandise
Services and military sales

_

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




227
-632

76
r

-94

201
147

-676

-386
-176

-54

15. 80

' 4, 747
684
1,770

188
'94
r

1.25
1.70
2.35
6.40

4,910

« 4, 713

U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"t
Quarterly Data are Seasonally Adjusted

' 19. 75 20.40
9.80
10.15
9.95
10.25

' -730 ' -562

22
' -94 ' -608 ' -359
-109
-712 -1,143
Unadjustec I. Data represen t firms ITi operati on as of Jan. 1; estimate for Jan . 1, 1963
•respond
tSee
coi
ing
note on p. S- L (revisio as for qti s. of 1961
data.
3omplete
is based on in
appear on p. 8fl. of the July 196 4 SURVE Y).
3
over
p<^rsonal c(msurnpt Ion expe nditures
e
incom
ving
is
e
lisposabl
xcess of c
§Personal sa
shown as a cornponent of gross E ational p>roduct o n p. S-l.
arterly
i•e views in the ISlar., Juile, Sept.
given
ir
i
the
qu
cf More coniplete de tails are
and Dec. issue >s of the JSURVEY.
ine!964£SURVEY.
of
the
Ji
31 appeal on p. 10
JRevisions I or 1960-2d qtr. 19(
4