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SURVEY OF CURRENT BUSINESS

April 1965

Table 1.—Gross National Product (1-3, 1-5)

Table 3.—Personal Income and Its Use (II-2)

[Billions of dollars]

[Billions of dollars]

1965

1964
1962

1963

1964

I

III

II

IV

1964

I"

1962

1963

1964

Seasonally adjusted at annual
rates
556.2 583.9 622.6 608.8 618.6 628.4 634.6

649. 0

Personal consumption expenditures. __ 356.8 375.0 399.3 390.0 396.1 404.6 406.5

418. 2

48.4 52.1 57.0 55.9 57.0 58.7 56.3
162.0 167.5 177.3 172.9 175.3 179.5 181.3
146.4 155.3 165.1 161.1 163.8 166.4 169.0

oi. 7
184. 8
171. 6

Gross national product.

Durable goods
Nondurable goods
Services

I

II

III

1965

IV

I*

Seasonally adjusted at annual
rates
Personal income

442.4 464.1 491.4 480.9 487.9 494.5 502.2 511.6

Wage and salary disbursements
Commodity-producing industries. .
Manufacturing only
Distributive industries
Service industries
Government

297.1 312.1 331.6 323.2 328.7 334.3 340.0 347.2
118.5 123.3 129.8 126.7 128.9 130.8 132.8 136.7
94.2 98.0 103.0 100.6 102.4 103.8 105.2 108.9
76.6 80.3 84.9 82.7 84.1 85.7 87.2 89.0
46.4 49.3 52.6 51.3 52.4 52.9 53.9 54.8
55.6 59.2 64.2 62.4 63.4 64.9 66.1 66.8

Gross private domestic investment.... 79.1

82.0

87.7

85.9

87.2

87.3

90.4

New construction. _
Residential nonfarm
Other

44.2
23.6
20.6

46.6
25.2
21.3

48.9
26.0
22.9

49.2
26.9
22.3

48.9
26.2
22.7

48.9
25.7
23.1

48.7
25.1
23.6

O ther labor income _

12.3

13.1

14.1

13.7

14.0

14.2

14.5

14.7

26. 3

Proprietors' income

Producers' durable equipment _

29.0

31.0

35.1

34.2

34.6

35.6

36.0

37.9

50.6
37.6
13.0

52.0
39.3
12.7

51.2
38.6
12.6

51.7
39.1
12.6

52.1
39.6
12.6

52.8
39.9
12.9

52.7
40.4
12.2

5.9

4.4

3.7

2.5

3.7

2.8

5.7

6. 5

Farm
""
"
Rental income of persons.

49.8
36.6
13.2

Change in business inventories

5.3
.6

Exports
Imports

3.6
.1

2.2
.3

3.4
.3

2.7
.1

6.1
-.4

6.7
*

4.4

7.0

7.7

5.7

7.0

7.7

29.2
25.2

Net exports of goods and services

3.9
.5

4.0

Nonfarni
Farm

30.7
26.3

35.2
28.2

34.5
26.8

33.7
27.9

35.7
28.7

37.1
29.4

^•^
__ _
06. 8
27 3
-

Government purchases of goods and
services
116.3 122.6 128.6 125.2 129.6 129.5 130.0

„
130. 0
<0/v

62.9
___ 53.6
10.2
.9

64.7
55.2
10.3
.8

65.5
55.4
11.2
1.1

64.3
54.0
11.5
1.2

67.1
57.0
11.0
.9

65.5
55.2
11.2
.9

65.3
55.3
11.3
1.2

frJ-5
11.6
*• 1

53.5

57.9

63.0

60.9

62.5

64.1

64.6

65. 5

Addenda:
Gross national product in constant
(1954) dollars
476.4 492.6 516.0 508.0 513.5 519.6 522.7
Implicit price deflator for seasonally
adjusted GNP, 1954=100..
116.7 118.5 120.7 119.8 120.5 121.0 121.4

532.9

Federal
National defense
Other
Less : Government sales

12.2

12.3

12.4

12.4

12.4

12.4

12.5

12.5

16.5

18.0

19.8

19.4

19.8

20.0

20.2

20.5

Personal interest income

30.0

32.9

36.0

35.0

35.7

36.3

36.9

37.6

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

34.7

36.7

38.2

38.3

38.0

38.0

38.4

39.6

14.3

15.2

16.0

15.6

16.1

16.1

16.1

16.4

2.9
4.8
12.7

2.8
5.0
13.7

2.6
5.2
14.4

2.8
5.2
14.8

2.5
5.3
14.2

2.4
5.2
14.2

2.6
5.3
14.3

2.4
5.4
15.3

10.3

11.8

12.7

12.3

12.5

12.8

13.0

13.2

Dividends..

Less: Personal contributions
social insurance

for

121. 8

p Preliminary.

57.9 61.6 59.5 61.4 57.7 58.8 60.2 62.9
49.1 51.9 49.0 51.2 47.3 48.2 49.3 51.5
8.8
9.6 10.6 10.2 10.5 10.6 10.9 11.3
384.6 402.5 431.8 419.5 430.2 435.6 442.1 448.7

Less: Personal consumption expenditures
Equals* Personal saving

356.8 375.0 399.3 390.0 396.1 404.6 406.5 418.2
27.8 27.5 32.5 29.5 34.0 31.0 35.5 30.5

Addendum: Disposable personal income in constant (1954) dollars

State and local.. __

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

343.4 354.9 375.8 366.7 374.7 378.8 383.1 387.1

Preliminary.

Table 2.—Relation of Gross National Product, National Income,
and Personal Income (1-17, 1-18)

Table 4.—Personal Consumption Expenditures by Major Type (II-6)

[Billions of dollars]

[Billions of dollars]

1964
1962

1963

1964

I

1965

III

II

IV

IP

1962

1963

1964

Seasonally adjusted at annual
rates
Gross national product
Less: Capital consumption allowances.

556.2 583.9

48.7

50.8

52.5

53.1

53.7

54.4

I

II

III

IV

Iv

Seasonally adjusted at annual
rates

622.6 608.8 618.6 628.4 634.6 649.0

53.4

1965

1964

55.0

Goods and services, total

356.8 375.0 399.3 390.0 396.1 404.6 406.5

Durable goods, total

418.2

48.4

52.1

57.0

55.9

57.0

58.7

56.3

61.7

Automobiles and parts.

20.6

22.7

24.2

24.3

24.1

25.6

22.8

28.1

Furniture and household equipment . . .

20.2

21.4

24.0

23.1

24.2

24.2

24.5

24.5

7.6

8.0

8.8

8.5

8.8

8.8

9.0

9.1

162.0 167.5 177.3 172.9 175.3 179.5 181.3

184.8

Equals: Net national product

507.5 533.1 569.1 556.3 565.5 574.8 580.2 594.0

Less: Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current surplus
of Government enterprises

52.8 55.9 59.4 57.9 59.0 60.1 60.7
2.4
2.5
2.5
2.5
2.4
2.5
2.5
-1.8 -2.7 -2.0 -1.6 -2.4 -1.4 -2.6
1.0

.8

Nondurable goods, total

Equals: National income

455.6 478.5 510. 1 498.4 507.1 514.5 520.6

n.a.

Food and beverages.

84.6

87.1

91.7

89.7

90.6

92.8

93.6

95.2

Clothing and shoes

29.9

30.7

33.4

32.1

33.2

33.8

34.3

35.2

Less: Corporate profits and inventory valuation adjustment
Contributions for social insurance...- -.
Excess of wage accruals over
disbursements. _
Plus: Government transfer
payments to persons
Net interest paid by Government
Dividends
Business transfer payments
Equals: Personal income
*> Preliminary.




1.6

1.0

.9

1.0

.7

.9

61.8
2.5
n.a.

48.4

50.8

57.4

56.4

57.9

58.1

57.0

n.a.

23.9

26.9

28.7

28.0

28.4

29.0

29.3

29.6

Other

Gasoline and oil

12.3

12.8

13.5

13.3

13.5

13.5

13.7

14.0

Other

35.2

36.9

38.7

37.8

38.0

39.3

39.7

40.4

146.4 155.3 165.1 161.1 163.8 166.4 169.0

171.6

0

0

0

0

0

.1

-. 1

0

32.3

34.3

35.7

35.9

35.5

35.5

35.9

37.1

Housing

46.5

48.9

51.5

50. 5

51.1

51.8

52.4

53.1

8.0
16.5
2.4

8.6
18.0
2.4

9.2
19.8
2.5

9.1
19.4
2.5

9.3
19.8
2.5

9.2
20.0
2.5

9.3
20.2
2.5

9.4
20.5
2.5

Household operation

21.6

22.7

24.4

23.5

24.0

24.8

25.1

25.6

442.4 464.1 491.4 480.9 487.9 494.5 502.2 511.6

Services, total

Transportation
Other
Preliminary.

_ _ . 11.3

11.7

12.2

12.0

12.2

12.2

12.3

12.5

67.0

72.0

77.1

75.1

76.4

77.7

79.1

80.4

CURRENT BUSINESS STATISTICS

JL HE STATISTICS here update series published in the 1963 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SUE VET
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 (t), 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

1962

| 1963 j 1964

1962
I

Annual total

II

Data from private sources are provided

1963

III

IV

I

II

1964

III

IV

I

II

1965

III

IV

I*

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
bil. $ _

Compensation of employees, total

455.6

478.5

510. 1

447.2

454.3

457.8

463.2

467.9

474.6

481.9

490.0

498.4

507 1

514 5 r 520 6

do

National income totalf

323.1

340.3

361.7

316.6

322.4

325.3

328. 0

332. 7

338. 1

342.7

347.7

352.5

358.6

364.8

370. 6

378.3

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

331.6
267. 4
11.8
52.4
30.1
52.0
39.3
12.7
12. 4

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
125

347 2
280 5
11 9
54 9
31.1
52 7
40 4
12.2
12 5

48.4

50.8

' 57. 4

47.1

48.0

48.3

50.3

49.1

50.2

51. 4

53 1

56 4

57 9

58 1

r -57 o

48.2
23.2
25.0
16.5
8.5
.3

51.3
24.6
26.7
18.0
8.7
-.4

' 57. 6
25.8
r 31. 8
19.8
11.9
-.2

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
i

58 0
26 0
32 0
20 0
12 0
1

r
r

Wages and salaries, total
do
Private
• _ _ . ' _
do _ _
Military
_
_do____
Government civilian
do
Supplements to wages and salaries
__do
Proprietors' income, total c? - do
Business and professionalcf
•_
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

_

57 7
25 9
r 31 9
20 2
r
11 7
_ 7

20.5
—1.3

22.1

24.4

26.8

21.3

21.8

22.3

22.9

23.5

24.0

24.7

25 4

25 9

26 5

27 1

27 6

28 2

__.__do

556.2

583.9

622,6

545.5

553.4

559. 0

566.6

571.8

577.4

587.2

599. 0

608.8

618.6

628.4

634.6

649.0

Personal consumption expenditures, total. _do

356. 8

375. 0

399.3

350.5

354.0

358.5

364. 0

369.2

372.0

377.4

381.3

390.0

396.1

404.6

406.5

418.2

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

57 0
24.2
24.0
177 3
33 4
91. 7
13.5
165 1
24 4
51 5
12 2

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 o
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 3
22.8
24. 5
181 3
34 3
93.6
13 7
169 0
25 1
52 4
12 3

61 7
28.1
24.5
184 8
35 2
95.2
14 0
171 6
25 6
53 1
12 5

do

79.1

82. 0

87.7

77. 4

78.9

80.2

79.9

77.9

80.2

82.8

87.1

85. 9

87.2

87.3

90.4

94.4

do
do
-___do.___
__do
do

44 2
23.6
29.0
5.9
53

46 6
25.2
31.0
4.4
39

48 9
26.0
35.1
3.7
36

42 5
22.5
28.1
6.9
64

44 1
23.5
28.8
6.1
55

45 5
24.4
29.6
5.1
44

44 9
24.0
29.7
5.4
48

44 7
24.3
29.6
3.6
30

45 9
25.1
30.7
3.6
32

47 2
25. 4
31.4
4.2
37

48 3
26.2
32.4
6.4
60

49 2
26.9
34.2
2.5
22

48 9
26.2
34.6
3.7
34

48 9
25.7
35.6
2. 8
27

48 7
25.1
36.0
5.7
61

50 o
26. 3
37.9
6.5
6 7

4.0
29 2
25 2

4.4
30 7
26 3

7.0
35 2
28 2

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

7.7
37 1
29 4

6.4
33 8
27 3

Govt. purchases of goods and services, total.. do— . 116.3
Federal (less Government sales)
_._^_~dol_"
62.9
National defense 9
do
53 6
State and local
do
53 5

122.6
64.7
55 2
57 9

128.6
65.5
55 4
63 0

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. 0
65.3
55 3
64 6

130.0
64.5
54 0
65 5

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

579 5
285 8
108. 2
177.6
228 4
65 2

618 9
305 6
118.0
187.6
244 3
69 0

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

614 9
304 3
119 0
185.4
241 7
68 9

625 7
310 5
120.7
189.8
246 0
69 2

628 8
309 6
117.9
191. 7
250 3
69 0

Net Interest.

. ;_.

do

Gross national product, totalf.

Durable goods, total ©
_
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
Gross private domestic investment, total
New construction. __
Residential nonfarm-.Producers' durable equipment.
Change in business inventories-.-.
Nonfarm
...
Net exports of goods and services
Exports
_-__;_
Imports
_

Inventory change, total
Durable goods...
Nondurable goods

._..__.

..do... .
do
do

.

do
do
do
_ _ _ _ _ do_
do
do
do....
do
do

550 3
273 6
102.3
171.3
214 7
62 0

5.9
4.4
6.1
6.9
3.7
30
22
20
39
31
_
2.9
2.' 2
1.7
2/9
3*0
'Revised. * Preliminary. fRevised series. Estimates of national income and product
and personal income have been revised back to 1961 (see p. 8 ff. of the July 1964 SURVEY) ;
revisions prior to May 1963 for personal income appear on p. 15 of the July 1964 SURVEY.

766-961 O-65—3




OOQ ft

68 6

5.1
5.4
3.6
3.6
4.2
6 4
25
7
31
15
18
27
15
30
2^0
3! 6
2.Q
!9
i. 7
3! 4
L8
cflncludes inventory valuation adjustment. ©Includes
9 Government sales are not deducted.

5.7
2.8
37
37
13
25
2.1
L5
1.2
data not shown separately.

S-l

SURVEY OF CURRENT BUSINESS

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

1962 | 1963 | 1964

Annual total

1963

1962
II

III

April 1965

IV

I

II

1964
III

IV

II

I

1965
III

IV

I

II

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, totalf—
bll. $_.

476.4

492.6

516.0

475.1

478.3

483.0

485.4

487.9

494.8

502.0

508.0

513.5

519.6

522.7 ^532.9

318.5

330.6

347.5

316.6

319.8

323.6

327.0

328.6

332.4

334.4

340.9

345.0

351.8

352. 4

do
do
do

45.7
148.3
124. 5

49.3
151.6
129.7

54.2
158.8
134.6

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

53.9
161.9
136.6

do

65.9

67.7

71.0

65.8

66.3

66.5

64.7

66.2

68.1

71.7

70.1

70.8

70.4

72.7

New construction
Producers' durable equipment
Change In business Inventories.

do
do
.do

36.7
24.0
5.2

37.9
25.6
4.1

38.9
28.8
3.3

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

38.2
29.5
5.0

Net exports of goods and services.

do

2.2

2.2

4.6

2.8

2.8

2.1

1.3

2.1

2.0

3.5

5. 4

3.4

4.5

5.2

Govt. purchases of goods and services, totaL.do
Federal
do
State and local
do

89.8
49.4
40.3

92.1
49.7
42.4

92.8
48.2
44.6

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

92.4
47.3
45.1

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

442.4
57.9
384.6

464.1
61.6
402.5

491.4
59.5
431.8

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

27.8

27.5

32.5

29.4

27.5

26.4

25.9

27.1

27.0

29.9

29.5

34.0

31.0

35.5

37.31

39.22

44.90

9.50

9.62

10.18

8.25

9.74

10.14

11.09

9.40

11.11

11.54

12.84

Personal consumption expenditures, total.. do
Durable goods
Nondurable goods
Services
Gross private domestic Investment, total

Personal saving §
...
. d o
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadiusted quarterly or annual totals:
All industries
bll $

502.2 P511.6
60.2 *62.9
442.1 *> 448. 7
^30.5

1 10. 85 2 12. 72

Manufacturing
_.
Durable goods Industries
Nondurable goods Industries

. d o
do....
do

14.68
7.03
7. 65

15.69
7.85
7.84

18.58
9.43
9.16

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

4.67
2.37
2.30

5.59
2.83
2.76

4. 61
2.30
2.31

5.44
2.70
2.73

Mining
Railroads
Transportation, other than rail
Public utilities
Communications
Commercial and other

do
do
do
.do
do
do

1.08
.85
2.07
5.48
3.63
9.52

1.04
1.10
1.92
5.65
3.79
10.03

1.19
1.41
2.38
6.22
4.30
10.83

.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

.33
.35
.64
1.76
1.17
3.01

.28
.42
.56
1.25

.34
.42
.78
1. 64

33.74

34.13

36.95

38.35

37.95

36.95

38.05

40.00

41.20

42.55

43. 50

45.65

47.75

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

20.15
10. 15
10.00

20.95
10.60
10.40

21.30
10. 60
10.70

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

1.20
1.50
2.40
6.30
4.40
11.00

1.30
1.55
2.60
6. 35
4.40
11.40

1. 20
1.75
2.50
6.40

1.30
1.45
2.75
6.45

4,790

4,800

4,815

4,825

4,835

4,850

4,860

4,875

4,895

4,910

4,930

_
__

Seas. adj. qtrly. totals at annual rates:

Nondurable goods industries

do

Railroads
do
Transportation, other than rail
do
Public utilities
do
Communications
do
Commercial jvnd other
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted)
thous

*4,755 * 4, 797

U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"J
Quarterly Data are Seasonally Adjusted
33,486

39, 781

8,151

8,312

8,576

8, 724

9,713

8,482

9,071

9,289

9, 754

10, 026

16,996
2,897
6,442

18,638
2,807
6,869

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

4,416
717
1,672

4,605
728
1,706

4,716
694
1,728

316.00 3 16. 40

10, 712

..do ... 16, 134
3,044
do
5,843
.^..do

Imports:.
Merchandise
I^tilltary expenditures
Other services.....

35, 990

148.85 2 49. 65

4,901
668
1,763

Govt. grants and capital outflows

do

738
4,293

826
4,522

830
4,277

189
1,065

177
1,066

185
1,088

209
1,060

209
1,336

206
1,009

202
1,117

197
928

206
1,103

212
1,098

215
1,148

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

do
do
do
(Jo

3,434 4, 307
1 654 1,888
1,685
1,227
734
553

6,360
2,297
1,956
2,107

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

1,359
513
236
610

1,406
568
283
555

1,578
577
597
404

2,017
639
840
538

do

U S receipts recorded
Exports:
Merchandise
Services and military sales

_

32, 394

33,685

37,913

7,925

8,408

8,355

7,780

8,429

8,596

8,880

9,308

9,124

9,614

9,867

do
do

20,576
9,508

21,989
10, 031

25, 219
11,304

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

6,108
2,876

6,053
2,785

6,372
2,875

6,686
2,768

1,280
1,030

969
696

694
696

237
54

606
175

287
475

166
79

190
262

424
135

189
220

'211
113

192
94

190
177

101
312

-1,092 -2,305 -1,868
-1,111 -339
-893

-226
-214

96
-430

-221
-460

-944
-118

-1,284
-11

114
-267

-191
57

'19
-138

-630
-31

-412
-247

-845
-477

-681 -1,062 -1,295

-153

-134

-119

-661

-659

-1,322

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

Total, net receipts or payments (— )
do
-440
-334
-2,203 -2,644 -2,761
Net receipts or payments (-), incl. transactions in
nonmarketable, medium-term convertible Govt.
securities... _
_
mil. $__
-1,942 -2,386
r
Revised.
* Preliminary.
i Estimates for Jan.-Mar. 1965 based on anticipat 3d capita 1 expenditures of business
2
Estimates for Apr.-June 1965 based on anticip
ated cap ital exp enditures of bus: ness.
Anticipated expenditures for the year 1965 are as f ollows (iQ bil. $) All ind ustries, «50.17;
manufacturing, total, 21.53; durable goods industr ies, 10.71 nbndu cable goo ds industries,
;
10.83; mining, 1.31; railroads, 1.62; transportation, 2. 57; publi s utilities3, 6.56; cc mmercia land
3
other (incl. communications), 16.58.
Includes co mmunic ations.




-456 -1,272
-119
-539
-712 -1,143
22
-109
< U n adjusted . Data represen firms iri operatic>n as of Jan. 1; estimate for Jan. 1, 1963
is bast,d on incomplete data.
fSee cor respond!rig note <>n p. S-l (revisioiis for qtrs. of 1961
appea r on p. 8 ff . of the July 196 [ SURVE^f).
§Pe rsonal sa 7ing is e xcess of d isposabl & income over personal cc nsumpti on expenditures
showi as a coniponent < gross n ational p roduct o a p. S-l.
)f
cPM !ore com plete de tails are given in the qujirterly r Bviews i n the JVEar., June, Sept .,
and Etec. issues of the £ URVEY.
tRe vised da ta for 1960-61 app ear on p. 10 of the June 19t)4 SURVE Y.

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