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Table 2.—Personal Income and Its Use (II-2)

Table 1.-—Gross National Product in Current and Constant Dollars
(1-3,

[Billions of dollars]
1964

1963
1964

1963

1961
1961

1962

1963

1964 P

IV

I

II

III

1962

1963

1964 *

IV

I

IV*

II

III

Seasonally adjusted
at annual rates

Seasonally adjusted
at annual rates

417.6 442.4 464.1 491.4 474.5 480.9 487.9 494.5

Gross national product. . .518.7 556.2 583.9 622.3 599.0 608.8 618.6 628.4

Wage and salary disbursements _
_ _
278.8 297.1 312.1 331.6 318.8

Personal consumption expendi337.3 356.8 375.0 399.2 381.3 390.0 396.1 404.6 406.2
tures
56 0
Durable goods
43.7 48.4 52.1 57.0 53.6 55.9 57.0 58.7
155. 4 162.0 167.5 177.1 168.9 172. 9 175.3 179.5 IQQ'C
Nondurable goods
146.4 155.3 165.1 158.8 161.1 163.8 166.4 16n'o
Services
138.3
Gross private domestic invest68.8

79.1

82.0

87.7

87.1

85.9

87.2

87.3

IVJ

323.2 328.7 334.3

Commodity-producing
industries
110.8 118.5 123.3 129.8 125.5 126.7 128.9 130.8
Manufacturing only. 87.5 94.2 98.0 103.0 99.9 100.6 102.4 103.8
Distributive industries.. 72.9 76.6 80.3 84.9 81.9 82.7 84.1 85.7
43.4 46.4 49.3 52.6 50.2 51.3 52.4 52.9
Service industries
51.8 55.6 59.2 64.2 61.3 62.4 63.4 64.9
Government.—

502.2
340.0
132.8
105.2
87.2
53.9
66.1

O ther labor income

90 £

11.6

12.3

13.1

14

-JL

13.4

13.7

14.0

14.2

14.5

48.2

49.8

50.6

52.0

51.5

51.2

51.7

52.1

52.8

38.3
13.2

38.6
12.6

39.1
12.6

39.6
12.6

39.9
12.9

41.0

44.2

46.6

48.9

48.3

49.2

48.9

48.9

Residential nonfarm
Other

21.1
19.8

23.6
20.6

25.2
21.3

26.0
22.9

26.2
22.1

26.9
22.3

26.2
22.7

25.7
23.1

OK n

H'l

Proprietors' income
Business and professional

35.3
12.9

36.6
13.2

37. 6
13.0

39.3
12.7

Producers' durable equipment

12.3

12.4

12.4

12.4

12.4

12.4

12.5

29.0

31.0

35.1

32.4

34.2

34.6

35.6

35. 9

Rental income of persons. __ 12.2
Dividends
15.2

12.2

25.9

16.5

18.0

19.8

19.1

19.4

19.8

20.0

20.2

Change in business inventories

1.9

5.9

4.4

3.7

6.4

2.5

3.7

2.8

60

Personal interest income.. _ 27.5

30.0

32.9

36.0

34.2

35.0

35.7

36.3

36.9

2.7
.1

fio
J
•4

Transfer payments
Old-age and survivors
insurance benefits
State unemployment
insurance benefits

33.6

34.7

36.7

38.2

37.2

38.3

38.0

38.0

38.4

12.6

14.3

15.2

16.0

15.4

15.6

16.1

16.1

16.1

4.0
4.8
12.2

2.9
4.8
12.7

2.8
5.0
13.7

2.6
5.2
14.4

3.0
5.1
13.6

2.8
5.2
14.8

2.5
5.3
14.2

2.4
5.2
14.2

2.6
5.3
14.3

9.6

10.3

11.8

12.7

12.1

12.3

12.5

12.8

13.0

52.9
45.1
7.8

57.9
49.1
8.8

61.6
51.9
9.6

59.5
49.0
10.6

63.3
53.4
9.9

61.4
51.2
10.2

57.7
47.3
10.5

58.8
48.2
10.6

60.2
49.3
10.9

364.7 384.6 402.5 431.8

411.2

419.5

430.2 435.6

442.0

337.3 356.8 375.0 399.2 381.3 390.0 396.1 404.6
27.3 27.8 27.5 32.6 29.9 29.5 34.0 31.0

406.2
35.9

Addendum: Disposable personal income in constant (1954)
dollars..
328.2 343.4 354.9 375.8 360.7 366.7 374.7 378.8

383.2

1.5
.3

Farm
Net exports of goods and services
Imports

4.6

27.6
23.0

.

5.3
.6
4.0

29.2
25.2

Government purchases of goods
and services
108.0 116.3

4.4

30.7
26.3

3.6
.1
6.7

34.9
28.2

6.0
.4
5.8

32.6
26.9

122.6 128.7 124.8

2.2
.3
7.7

34.5
26.8
125.2

3.4
.3

7.0

5.7

33.7
27.9

35.7
28.7

129.6

129.5

fi

_ ,.
O. 7
29 2

'

57.4

62.9

64.7

65.6

64.9

64.3

67.1

65.5

49.0
8.9
.6

53.6
10.2
.9

55.2
10.3
.8

55.3
11.4
1.1

55.3
10.5
.9

54.0
11.5
1.2

57.0
11.0
.9

55.2
11.2
.9

130.3
fi_7
°°- '
„. 1
JJ• Q
11. o
1.2

_ _ _ 50.6

53.5

57.9

63.0

59.9

60.9

62.5

64.1

o4. o

Federal
Other
Less: Government salesState and local

3.9
.5

48

„

Addenda:
Gross National Product in
Constant (1954) dollars... 447.9 476.4 492.6 515.7 502.0 508.0 513.5 519.6
Implicit price deflator for
seasonally adjusted GNP,
1954 ~ 100
115. 8 116.7 118.5 120.7 119.3 119.8 120.5 121.0

52L 5

Farm.....::.:.:.:.:.:.:

Other

,

Less: Personal contributions for social insurance.
Less: Personal tax and nontax
payments
Federal...
State and local
Equals: Disposable personal inrmmt*
C me
°
Less: Personal consumption ex penditures
Equals: Personal saving _

v Preliminary.

' Preliminary.
Table 3.—Relation of Gross National Product, National Income and
Personal Income (1-17, 1-18)
[Billions of dollars]
1963
1961

1962

1963 1964 v

IV

Table 4.—-Personal Consumption Expenditures by Major Type (II-6)
[BiUions of dollars]

1964

I

II

III

IV*

1961

1962

1963

1964P

IV

Seasonally adjusted
at annual rates
Gross national product
518.7
Less: Capital consumption
allowances
44.5
Equals: Net national product. _ 474.1
Less: Indirect business tax and
nontax liability .
49.0
Business transfer pajTments
2.4
Statistical discrepancy
-2.6
Plus: Subsidies less current surplus of government
enterprises
1.6
Equals: National income
426.9
Less: Corporate profits and inventory valuation adjustment-44.1
Contributions for social
insurance
21.4
Excess of wage accruals
over disbursements
0
Plus: Government transfer
payments to persons
31.3
Net interest paid by government
7.4
Dividends
15.2
Business transfer payments
2.4
Equals: Personal income
417.6
Preliminary.




1964

1963

I

II

III

IV*

Seasonally adjusted
at annual rates

556.2 583.9 622.3 599.0 608.8 618.6 628.4

633.5

48.7 50.8 53.4 51.7 52.5 53.1 53.7
507.5 533.1 568.8 547.3 556.3 565.5 574.8

54.4
578.9

52.8

55.9

59.4

57.3

57.9

59.0

60.1

2.4 2.4 2.5 2.4 2.5 2.5 2.5
-1.8 -2.7 -2.1 -1.8 -1.6 -2.4 -1.4
.8
1.6 1.0
.7
.7
.9
1.0
455.6 478.5 509.8 490.0 498.4 507.1 514.5

60.7
2.5
n.a.
.9
n.a.

Goods and services, total

25. 6

22.7

22.3

23.1

24.2

24.2

24.4

8.2

8.5

8.8

8.8

53.6

55.9

Automobiles and parts

17.1

-20. 6

22.7

24.2

23.2

Furniture and household
equipment

19.3

20.2

21.4

24.0
8.8

Other

7.3

Nondurable goods, total

7.6

8.0

155.4 162.0 167.5

Food and beverages

81.3

84.6

87.1

Clothing and shoes _

28.7

29.9

30.7

56.4

57.9

58.:

23.9

26.9

28.7

27.5

28.0

28.4

29.1

0

0

0

0

0

0

32.3

34.3

35.7

34.7

35.9

35.5

35.

35.9

Housing

8.0
16.5

8.6
18.0

9.2
19.8

8.8
19.1

9.1
19.4

9.3
19.8

9.2
20.0

9.3
20.2

Household operation.

2.5
502.2

24.1

57.0

53.1

2.4 2.4 2.5 2.4 2.5 2.5 2.5
442.4 464.1 491.4 474.5 480.9 487.9 494.5

56.2

24.3

52.1

57.0

-.1

58.7

48.4

50.8

29.3

406.2

57.0

43.7

48.4

n.a.

390.0 396. 1 404.6

337.3 356.8 375.0 399.2 381.3

Durable goods, total

175.3 179.5

9.0

180.8

177.1 168.9

172.9

91.6

87.8

89.7

90.6

92.8

93.1

33.2

30.9

32.1

33.2

33. 8

33.6

Gasoline and oil

11.9

12.3

12.8

13.6

13.0

13.3

13.5

13.5

13.9

Other.

33.6

35.2

36.9

38.8

37.3

37.8

38.0

39.3

40.1

161.1 163.8

166.4

Services, total

138.3

146.4 155.3

165.1

158.8

169.2

44.2

46.5

48.9

51.5

49.8

50.5

51.1

51.8

52.4

20.4

21.6

22.7

24.4

23.0

23.5

24.0

24.8

25.3

Transportati on

10.7

11.3

11.7

12.2

11.8

12.0

12.2

12.2

12.4

Other

63.0

67.0

72.0

77.1

74.1

75.1

76.4

77.7

79.1

__

v Preliminary.

15

CURRENT BUSINESS STATISTICS

JL 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
t o revised monthly averages a r e 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

1962

IV

Annual total

I

1

II

Data from private sources are provided
1964

1963

| III | IV

I

|

II

III

|

IV

I

III

II

IV* i

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
426.9

455.6

478.5

442.4

447.2

454.3

457.8

463. 2

467.9

474.6

481.9

490.0

498.4

507. 1

514. 5

302.2

323. 1

340. 3

310.7

316.6

322.4

325.3

328. 0

332.7

338. 1

342.7

347.7

352. 5

358.6,

364. 8

370.6

Wages and salaries, total
.__
do
Private
___do
Military
- - -do._
Government civilian
do
Supplements to wages and salaries: _ _ _ _ d o
Proprietors' income, totaled
do
Business and professional cf
-do
Farm
_-_
do
Rental income of persons— __
do
Corporate profits and inventory valuation adjustment, total
.'•.
bil. $

278.8
227. 0
10.2
41.6
23.4
48.2
35.3
12.9
12.2

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

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
269.4
11.8
53. 2
30.4
52. 1
39. 6
12.6
12.4

339.9
274.0
11.9
54.0
30.7
52.8
39.9
12.9
12.5

44. 1 - 48.4

50.8

49.0

47.1

48.0

48.3

50.3

49.1

50.2

51.4

53.1

56,4

57. 9

58.1

Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax _
do
Dividends
-... _
. . . __do
..
Undistributed profits.
do__._
Inventory valuation adjustment
do

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

49.3
24.8
24. 5
15.7
8.8
-.3

47.2
22.7
24.5
16. 1
8.4
-.1

47.9
23.0
24.9
16. 4
8.5
.0

48.1
23. 1
25.0
16.5
8.5
.1

49.4
23. 8
25.7
17.1
8.6
.9

48.9
23.4
25. 5
17.2
8.3
.2

51. 1
24.5
26.6
17.7
8.9
-.9

51.3
24.5
26.7
17.9
8.9
.2

54.3
26.0
28.3
19.1
9.2
-1.2

56.6
25.4
31.2
19.4
11.8
-.2

57.9
26.0
31.9
19. 8
12.1
-.1

58.0
26.0
32.0
20.0
12.0
.1

20.1

22. 1

24.4

20.9

21. 3

21.8

22.3

22. 9

23.5

24.0

24.7

25.4

25.9

26.5

27.1

27.6

National income, totalf

___•__ bil. $__

Compensation of employees, total

Net Interest

..

-

;___do

.

Gross national product, totalf

..do....
do

518. 7

556.2

583.9

536. 9

Personal consumption expenditures, total. .do....

337.3

356. 8

375. 0

345.2

Durable goods, total©
. r _ 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®
_ do
Household opera tion__ __
do
Housing-.
do
Transportation _.
do

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

68.8

79.1

do
41.0
do. . . . 21.1
do.__ _ • 25.9
do
1.9
do
1.5

44.2
23. 6
29.0
5.9
5.3

Gross private domestic investment, total _ do
New construction
Residential nonf arm.. Producers' durable equipment-..-Change in business inventories
Nonfarm...-- __ __
_

-.7

545.5

553.4

559.0

566. 6

571.8

577.4

587.2

599.0

608.8

618. 6

628.4

633.5

350.5

354.0

358. 5

364.0

369. 2

372.0

377.4

381.3

390.0

396. 1

404.6

406. 2

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
147. 2
21.7
46. 8
11.4

50.2
21.8
20.6
164.4
30.2
85.9
12. 5
149. 5
22.0
47.5
11.5

51.1
22.4
20. 8
166. 0
30.4
86.4
12.7
152. 1
22.4
48.0
11.6

51. 5
22.6
21. 0
166. 6
30.1
86. 9
12.8
153.9
22.4
48.6
11. 7

52.2
22.6
21.6
168.6
31.3
87.3
•12.9
156.6
22.9
49.2
11.7

53. 6
23.2
22.3
168.9
30.9
87.8
13.0
•158. 8
23.0
49. 8
11.8

55.9
24.3
23.1
172.9
32.1
89.7
13.3
161. 1
23.5
50.5
12. 0

57.0
24.1
24.2
175. 3
33.2
90.6
13.5
163.8
24.0
51.1
12.2

58.7
25.6
24.2
179. 5
33.8
92,8
13. 5
166.4
24.8
51.8
12.2

56.2
22.7
24.4
180.8
33.6
93.1
13.9
169.2
25.3
52.4
12.4

82.0

74.9

77.4

78.9

80.2

79. 9

77.9

80.2

82.8

87.1

85.9

87.2

87.3

90.5

46. 6
25. 2
31.0
4.4
3.9

41. 9
22. 1
27.4
5.6
5.2

42. 5
22.5
28.1
6.9
6.4

44. 1
23.5
28. 8
6. 1
5.5

45. 5
24.4
29.6
5.1
4.4

44. 9
24.0
29.7
5.4
4. 8

44.7
24.3
29.6
3.6
3.0

45.9
25.1
30.7
3.6
3.2

47.2
25.4
31.4
4.2
3.7

48.3
26.2
32.4
6.4
6. 0

49. 2
26.9
34.2
2.5
2.2

48.9
26. 2
34.6
3.7
3.4

48.9
25.7
35.6
2.8
2.7

48.6
25.0
35.9
6. 0
6.3

x

Net exports of goods and services...
___ _do____
Exports
__'
do
Imports
___
._.__ . d o

4.6
27.6
23. 0

4.0
29.2
25.2

4.4
30.7
26.3

4.3
28.4
24.1

3.4
28. 0
24.6

4.3
29.6
25. 3

4.4
29.7
25.3

3.9
29.4
25.5

3.4
28.8
25. 4

4.3
30.5
26. 3

4.2
31.0
26.8

5.8
32.6
26.9

7.7
34.5
26. 8

5.7
33.7
27.9

7.0
35.7
28. 7

6.5
35.7
29. 2

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

112.6
59.8
50.9
52.8

114. 3
61.4
52.5
52.8

116. 1
63.6
55.3
52.5

115.9
62.4
53. 0
53.5

118.7
63.8
53.5
54.8

121. 4
65.1
54.8
56.3

120.9
64.3
55.2
56.7

122.8
64.4
55. 5
58.4

124.8
64.9
55.3
59.9

125.2
64.3
54.0
60.9

129.6
67.1
57.0
62.5

129.5
65.5
55.2
64.1

130. 3
65.7
55.1
64.6

516.8
257.9
94.5
163.4
200.8
58.1

550.3
273.6
102.3
171.3
214. 7
62.0

579.5
285.8
108.2
177, 6
228.4
65.2

531. 4
264.8
98.4
166. 5
206. 8
59.7

538.7
268. 9
100.2
168.7
210. 0
59.8

547.3
273. 5
103.5
170. 0
212.2
61.6

554. 0
273.9
101.4
172.6
216.8
63.2

561.2
278. 2
104.1
174.1
220. 0
63.0

568. 2
280.9
105. 0
175. 8
224. 7
62.7

573.7
286.5
111. 0
175.5
223.5
63.7

583.0
285. 7
106.6
179. 1
231. 2
66.2

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
69.2

State and local—. _.___

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

.___

do

do
do
_..._
do____
_ _ _ _ _ ___.do—
do
do
_ _ . ' _ do
do
____I_do_II_

1.9
5.9
4.4
5.6
6.9
-.1
3.0
2.2
3.6
3.9
2.0
2.9 '
2. 2
2. 9
2.0
'Revised, f Preliminary. fRevised series. Estimates of national income and pro duct
and personal income have been revised back to 196: (see p. 8 ff . of tlle July 1964 SUR^
revisions prior to May 1963 for personal income ap aear on i 3. 15 Of t he July 1964 SUE VEY]
760-045 O - 65 - 3




_._. .„__

6.1
5.1
5.4
3.6
6.4
3.6
4.2
2.5
3.7
2.8
3.1
3.1
1.8
1.5
2.7
1. 5
3.0
1.3
2.5
.7
3.0
2. 0
3.6
2.0
.9
3.4
1.5
2.7
1.8
1.2
cflncl udes in ventory valuatio n adjus fcment. ©Incluc es data not sh own sep arately.
9Go\rernment sales ai e not d(^ducted,
i Prel iminary annual totals ft>r 1964 f or componei] ts showri in this <
3olumn a ppear on p. 15 of ;his issue of the S UEVEY.

S-1

SURVEY OF CUEEENt 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

II

1964

1963

1962
I

January 1965

III

IV

I

II

III

IV

I

1965
III

II

IV

«521.5

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, totalt bll. $

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

Personal consumption expenditures, total.. do

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

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

34.3
21.4
1.7

36.7
24.0
5.2

35.5
23.2
6.1

36.6
21 8
5.4

37.5
24.4
4.4

39.2
28.3
3.3

38.6
29.2
2.5

Durable goods
Nondurable goods
Services

>

do
do
do

Gross private domestic Investment, total ... do. ...
New construction
Producers* durable equipment
Change In business Inventories

do
do
do

37.9
25.6
4.1

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

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

Govt. 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
Equals* 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 p«502.2
58.8 « 60.2
435.6 «442. 0

29.4

27.5

26.4

25.9

27.1

27.0

29.9

29.5

34.0

31.0 p« 35.9

Net exports of goods and services

Personal savlno1 §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadi'usted quarterly or annual totals:
All Industries
.—
.
bll. $

27.3

27.8

27.5

28.0

34.37

37. 31

39.22

8.02

9.60

9.62

10.18

8. 25

9.74

10.14

11.09

9.40

11.11

11.54

Manufacturing
do
Durable goods Industries
_do____
Nondurable goods lndustries_________._do____

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
.1.82.

3.72
1.79
1.93

4.13
2.03
2.10

3.27
1.62
1. 65

3.92
1.96
1.85

3.95
1.96
1.99

4.56
2.31
2.25

3.79
1.93
-1.87

4.53
2.30
2.23

4.67
2.37
2.30

5.51
2.75
2.76

4.43
2. 19
2.24

.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

.32
.41
.57
1.68

.29
.38
.53
1,27

34.11

33.68

35.70

36. 95

38.35

37.95

36.95

38.05

40.00

41.20

42.55

43.50

45. 65

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

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

1.15
.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
1.80
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

1.20
1.50
2.40
6.30
4.40
11.00

4,780

4,790

4,800

4,815

4,825

4, 835

4,850

4,860

4, 875

4,895

4,910

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:

Nondurable goods Industries

do

Railroads
Transportation other than rail
Public utilities
Communications

do
do
do
do

BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted)
____thous__ < 4, 713

44,755 4 4, 797

U.S. BALANCE OF INTERNATIONAL
PAYMENTScft
Quarterly Data are Seasonally Adjusted

U2.60 2 10. 58

146.70 2 47. 90
19.75
20.40
9.80
10.15
9.95
10.25
1.25
1.75
2.30
6.00

1.25
1.70
2.35
6. 40

3 15. 55 3 15. 80

•s,

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

.....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

4,366
717
1,665

4,576
728
1,704

4, 747
684
1, 770

do

705
4,054

738
4,293

826
4,522

187
1,074

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

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

1,380
521
227
632

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
2,888

6,036 r 6, 362
2,802
2, 803

1,280
969
1,030
696
\
-1,372 -1,092 -2,305
Excess of recorded receipts or payments (— )_._do
Unrecorded transactions (net)-.
__do__._ -998 -1,111 -339

150
326

237
54

606
175

287
475

166
79

190
262

424
135

189
220

216
113

188
94

201
147

-741
-7

-226
-214

96
-430

-221
-460

-944
-118

-1,284
-11

114
-267

-191
57

76
-170

-676
-54

-386
-176

-440
Total, net receipts or payments (— )
do
-748
-2, 370 -2,203 -2, 644
Net receipts or payments (— ), incl. transactions in
nonmarketable, medium-tenn convertible Govt.
securities...
.
mil. $
-1.942
••Revised.
* Preliminary. ' « See note 1 on p. S-l.
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
other (incl. communications), 15.06.
3 includes communications.

-334

-681

-1,062 -1,295

-153

-134

-94

-730

-562

Imports:
Merchandise

;

.

Other services..
Govt. grants and capital outflows
U.S. private capital (net)
Direct investments
Long-term portfolio
Short-term
U S receipts recorded
Exports:
IVIerchandlse
Services and military sales

_

do

do
...do
do
do

Repayments on U.S. Govt. loans
do....
Foreign capital other than liquid funds (net), do.—




1, 274
707

e

9, 898

—94
-359
-608
22
-712 -1,143
-109
« UnadjustedL. Data represen b firms iii operation as of Jan. 1; e stimate for Jan. 1, 1963>
fSee coi•respond]ing note on p. S-l (revisioiisforqtrs.ofl961
is based on in<complete data.
appear on p. 8 ff . of theJuly 1964 SURVE r).
§Personal sa ving is excess of d isposabl B income over pe rsonal co nsumption expenditures
shown as a conaponent of gross n ational p roduct o a p. S-l.
cf More coin
plete de tails are given in the qu arterly r eviews i a the MCar., June, Sept.
and Dec. issues of the £SURVEY.
JRevisions f or 1960-2 d qtr. 19C 1 appear on p. 10 of the JuBe 1964 SURVEY.

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