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SURVEY OF CUREENT BUSINESS June 1965 Europe rose more than 30 percent, as compared with a 25-percent increase in travel from Latin America and the Caribbean region. Visitors from Europe tend to spend relatively little because a large proportion of them are guests of their U.S. friends and relatives. Oversea visitors pass 1-million mark The number of travelers from Europe and the Mediterranean area rose by A 30-percent increase brought the 130,000 to 527,000. About 70 percent number of oversea visitors to about of them were on pleasure trips, the same 1,100,000 last year. They spent $400 proportion as in earlier years. Average million or 20 percent more than in the outlays for all classes of visitors from year before. The rise in the number of Europe were higher than in 1963, but visitors was largest in those groups that the relative increase in average expendcharacteristically have relatively low itures did not match the increase in the per capita expenditures. For example, number of visitors. pleasure travel increased about 32 perTotal travel spending by Europeans cent, while business travel—more likely here amounted to about $160 million, a to involve higher per capita spending— considerable rise over 1963 expenditures increased 24 percent. Travel from of $115 million. British visitors achere, about 8 percent more than the year before. As in 1963, travel beyond the U.S. border area made up 28 percent of total travel receipts from Mexico, or about $70 million. 29 counted for $55 million last year, onethird of the area total. Residents of South America, Central America, and the West Indies spent about $157 million for travel in the United States, only moderately more than in 1963, although the number of arrivals here reached about 415,000, or 25 percent more than a year ago. Except for a minor rise among travelers in transit, the entire increase occurred among pleasure travelers. Over 50,000 travelers were from the Dominican Republic; their visits are often restricted to neighboring Puerto Rico and their expenditures are relatively small. Approximately 160,000 visitors came from other oversea areas and spent just over $80 million. Those from Japan spent about $25 million here last year compared to $20 million in 1963. Table 2.—National Income by Industry Division (1-11) National Income and Corporate Profits [Billions of dollars] 1964 Table 1.—National Income by Type of Income (1-8, 1-9) 1962 [Billions of dollars] 1963 1964 I II 1965 III IV I Seasonally adjusted at annual rates 1964 1965 All industries, total 1962 1963 1964 I II III IV I Seasonally adjusted at annual rates National income Compensation of employees Wages and salaries Private Military Government civilian 455.6 478.5 510.1 498.4 507.1 514.5 520.6 534.5 323.1 340.3 361.7 352.5 358.6 364.8 370.6 378.3 297.1 312.1 331.6 323.2 328.7 334.4 339.9 241.6 252.9 267.4 260.8 265.3 269.4 274.0 10.8 10.9 11.8 11.7 11.7 11.8 11.9 44.7 483 52.4 50.7 51.7 53.2 54.0 Supplements to wages and salaries ._ 25.9 347.2 280.5 11.9 54.9 28.2 30.1 29.4 29.9 30.4 15.1 16.0 15.7 15.9 16.2 16.2 16.4 Other labor income 12.3 13.1 14.1 13.7 Employer contributions to private pension and welfare funds. 9.7 10.4 Other. 2.6 2.7 14.0 14.2 14.5 14.7 Employer contributions for social insurance Proprietors' income. __ . Business and professional 13.6 30.7 31.1 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 Rental income of persons Coprorate profits and inventory valuation adjustment Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adjustment Net interest 478.5 498.4 520.6 535.5 18.9 18.9 18.6 18.5 18.6 18.6 18.7 130.8 137.4 147.3 144.2 147.4 148.5 149.0 78.5 82.9 89.0 87.0 88.8 90.0 90.2 52.3 54.4 58.3 57.1 58.6 58.5 58.9 73.8 77.4 82.1 80.2 81.5 82.8 83.8 158.0 97.3 60.6 86.2 52.2 20.8 53.0 20.8 510.1 46.3 18.8 48.7 19.5 51.2 20,3 507.1 50.3 19.7 50.8 20.1 514.5 51.3 20.6 18.0 18.6 19.3 20.5 19.8 20.1 20.9 21.2 21.0 55.6 59.5 64.1 62.2 63.7 64.5 65.8 66.8 60.3 32.4 64.5 33.4 70.0 36.2 68.0 35.6 69.1 35.8 70.8 36.4 71.9 37.1 72.8 37.9 Table 3.—Corporate Gross Product [Billions of dollars] 49.8 50.6 52.0 51.2 51.7 52.1 52.8 52.7 36.6 37.6 39.3 38.6 39.1 39.6 39.9 40.4 1965 1964 1962 Income of unincorporated enterprises _ 36.6 37.6 39.3 Inventory valuation adjustment. __ 0 0 0 Farm 455.6 1963 1964 I II III IV I Seasonally adjusted at annual rates 13.2 13.0 12.7 12.6 12.6 12.6 12.9 12.2 .12.2 12.3 12.4 12.4 12.4 12.4 12.5 12.5 48.4 50.8 57.4 56.4 57.9 58.1 57.0 62.9 48.2 23.2 25.0 16.5 8.5 51.3 24.6 26.7 18.0 8.7 57.6 25.8 31.8 19.8 11.9 56.6 25.4 31.2 19.4 11.8 57.9 26.0 31.9 19.8 12.1 58.0 26.0 32.0 20.0 12.0 57.7 25.9 31.9 20.2 11.7 64.3 27.7 36.6 20.5 16.1 .3 -.4 -.2 -.2 -.1 .1 -.7 -1.4 .22.1 24.4 26.8 25.9 26.5 27.1 27.6 28.2 Corporate gross product * Indirect taxes Capital consumption allowances _ . .. Income originating in corporate business * Compensation of employees Net interest Profits before tax, including inventory valuation adjustment 1 364.4 309.0 323.9 345.5 337.4 343.7 348.6 352.3 32.9 34.6 36.7 35.8 36.5 37.1 37.4 38.2 30.5 31.8 33.7 33.0 33.4 33.8 34.4 34.8 245.7 257.5 275.2 268.6 273.8 277.7 280.5 291.4 198.9 .9 208.5 .7 220.0 .8 214.7 .7 218.3 .8 221.8 .8 225.3 .8 230.8 .8 45.9 48.3 54.3 53.1 54.8 55.1 54.4 59.8 1. Excludes profits originating in the rest of the world. SURVEY OF CURRENT BUSINESS 30 June 1965 Table 4.—National Income by Corporate and Noncorporate Form Organizati of Organization (1-14) Table 7.—Relation of Gross National Product, National Income, and Personal Income (1-17, 1-18) [Billions of dollars] [Billions of dollars] 1964 1962 1963 1964 I 1965 IV III 1 II 1964 I 1962 1963 1964 I Income originating in corporate business * 455.6 478.5 510.1 498.4 507.1 514.5 520.6 534.5 245.7 257.5 275.2 268.6 273.8 277.7 280.5 291.4 208.5 189.2 220.0 199.6 214.7 194.7 19.3 20.4 20.0 45.9 45.6 23.2 22.4 48.3 48.8 24.6 24.2 54.3 54.6 25.8 28.7 .3 -.4 .9 .7 Compensation of employees- 198.9 180.9 Wages and salaries Supplements to wages and 18.0 salaries Corporate profits and inventory valuation adjustment *• _ Profits before tax 1 __ Profits tax liability Profits after tax 1 Inventory valuation adjustment Net interest. Income originating outside corporate business 210.0 221.0 218.3 221.8 198.0 ~201. 1 225.3 204.5 230.8 209.7 20.3 20.7 20.8 21.1 53.1 53.3 25.4 27.9 54.8 54.8 26.0 28.8 55.1 55.0 26.0 29.0 54.4 55.1 25.9 29.2 59.8 61.2 27.7 33.6 -.2 -.2 -.1 .1 -.7 .8 .7 •8 .8 .8 235.0 233.3 229.8 236.8 240.0 -1.4 .8 243.1 Table 5.—Sources and Uses of Gross Saving (V-2) [Billions of dollars] I 1964 II IV I 556.2 583.9 622.6 608.8 618.6 628.4 634.6 648.8 allow- 48.7 50.8 53.4 52.5 53.1 54.4 54.9 507.5 533.1 569.1 556.3 565.5 574.8 580.2 593.9 Less: Indirect business tax and nontax liability 52.8 55.9 59.4 57.9 59.0 60.1 60.7 Business transfer payments 2.4 2.4 2.5 2.5 2.5 2.5 2.5 Statistical discrepancy _ __ _ -1.8 -2.7 -2.0 -1.6 -2.4 -1.4 -2.6 61.7 2.5 -4.2 Equals : Net national product Plus: Subsidies less current surplus of government enterprises Equals: National income Less: Corporate profits and inventory valuation adj ustment Contributions for social insurance Excess of wage accruals over d isbursements.. Equals : Personal income 1.6 1.0 .9 1.0 53.7 .7 .9 1.0 .6 455.6 478.5 510.1 498.4 507.1 514.5 520.6 534.5 48.4 50.8 57.4 56.4 57.9 58.1 57.0 62.9 23.9 26.9 28.7 28.0 28.4 29.0 29.3 29.6 0 0 0 0 0 .1 -.1 0 32.3 34.3 35.7 35.9 35.5 35.5 35.9 37.1 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 2.5 442.4 464.1 491.4 480.9 487.9 494.5 502.2 511.6 1965 1964 1963 Gross national product Less: Capital consumption ances Plus: Government transfer payments to persons Net interest paid by government _ __ _ _ Dividends Business transfer payments 1. Excludes profits originating in the rest of the world. 1962 III Seasonally adjusted at annual rates Seasonally adjusted at annual rates National income II 1965 III IV I Seasonally adjusted at annual rates Gross private saving Personal saving Undistributed corporate profits Corporate inventory valuation adjustment _ _ _ __ Capital consumption allowances Excess of wage accruals over disbursements Government surplus on income and product transactions Federal State a n d local ___ Gross investment Gross private domestic investment __ Net foreign investment Statistical discrepancy 85.3 86.7 97.6 93.7 99.2 96.9 100.8 99.8 Table 8.—Government Receipts and Expenditures (III-3, III-4) 27.8 27.5 32.5 29.5 34.0 31.0 35.5 30.2 [Billions of dollars] 8.5 8.7 11.9 11.8 12.1 12.0 11.7 16.1 .3 -.4 -.2 -.2 -.1 .1 -.7 48.7 50.8 53.4 52.5 53.1 53.7 54.4 54.9 0 0 0 0 0 .1 -.1 0 -1.9 .9 -2.7 0 -5.5 -3.0 -2.3 2.4 -4.1 2.1 -1.5 2.4 -5.1 2.5 -2.4 2.4 -7.8 2.3 -5.2 2.3 -5.0 2.6 0 2.3 81.5 84.8 92.9 92.1 91.3 92.5 95.9 97.9 79.1 2.4 82.0 2.8 87.7 5.3 85.9 6.2 87.2 4.1 87.3 5.2 90.4 5.5 94.7 3.2 -1.8 -2.7 -2.0 -1.6 -2.4 -1.4 -2.6 1964 -1.4 -4.2 1962 [Billions of dollars] 1964 1962 1963 1964 I II 1965 III IV I Seasonally adjusted at annual rates All industries, total. _ Manufacturing D urable goods industries Nondurable goods industries Transportation, communications, and public utilities All other industries 48.4 50.8 57.4 56.4 24.7 13.2 11.5 26.7 14.4 12.3 30.9 16.7 14.3 30.6 16.6 13.9 57.9 58.1 57.0 62.9 31.7 17.0 14.8 31.2 16.9 14.3 30.3 16.2 14.1 35.3 20.1 15.1 8.0 8.4 8.9 8.5 8.8 9.3 9.3 9.1 15.7 15.7 17.5 17.4 17.4 17.6 17.5 18.5 1964 I II III IV I Seasonally adjusted at annual rates Federal Government receipts 106.4 113.6 114.1 114.8 112.3 114.0 115.2 Personal tax and nontax receipts.. 49.1 51.9 49.0 51.2 47.3 48.2 49.3 Corporate profits tax accruals. _ _ _ _ _ 21.8 23.0 24.4 23.9 24.4 24.4 24.3 Indirect business tax and nontax accruals 15.1 15.6 16.4 15.9 16.4 16.6 16.6 Contributions for social insurance . 20.5 23.0 24.4 23.9 24.2 24.7 25.0 120.3 52.0 26.0 Federal Government expenditures 110.4 115,2 119.2 117.2 120.2 119.2 120.1 Purchases of goods and services.... 62.9 64.7 65.5 64.3 67.1 65.5 65.3 120.3 65.1 Transfer payments™.,.^ „ - , _ „ „ . 28.3 To persons 26.7 Foreign (net) 1.6 Table 6.—Corporate Profits (Before Tax) and Inventory Valuation Adjustment, by Broad Industry Groups (VI-10) 1963 1965 17.1 25.2 29.9 28.3 1.6 31.0 29.3 1.8 31.1 29.5 1.5 30.7 29.1 1.6 30.8 29.1 1.7 31.5 29.4 2.2 32.2 30.4 1.8 Grants-in-aid to State and local governments. 8.0 9.1 10.4 9.8 10.4 10.6 10.7 10.6 Net interest paid 7.1 7.7 8.4 8.3 8.4 8.4 8.4 8.5 Subsidies less current surplus of government enterprises 4.2 3.8 3.9 3.7 3.6 3.9 4.2 3.8 Surplus or deficit (— ) on income and product account-4.1 -1.5 -5.1 -2.4 -7.8 -5.2 -5.0 State and local government receipts- _ _ 59.5 64.4 69.8 67.8 69.2 70.6 71.5 Personal tax and nontax receipts.. 8.8 9.6 10.6 10.2 10.5 10.6 10.9 1.6 Corporate profits tax accruals 1.4 1.6 1.5 1.6 1.6 1.6 Indirect business tax and nontax accruals . . 37.8 40.2 43.1 42.1 42.6 43.4 44.1 4.3 4.3 4.2 4.1 4.2 Contributions for social insurance. 3.5 3.9 9.8 10.4 10.6 10.7 Federal grants-in-aid 8.0 9.1 10.4 State and local government expendi57.3 62.0 67.3 65.3 66.9 68.3 68.9 tures Purchases of goods and services — 53.5 57.9 63.0 60.9 62.5 64.1 64.6 6.4 6.5 6.4 6.4 6.3 Transfer payments to peisons 5.6 6.0 .9 .9 .9 .9 .9 >Jp,t interest paid .8 .8 Less: Current surplus of govern3.1 3.0 2.9 2.8 2.8 ment enterprises 2.6 3.0 Surplus or deficit (— ) on income 2.3 2.3 2.6 and product account 2.4 2.1 2.4 2.5 0 72.6 11.3 1.6 44.6 4.4 10.6 70.3 65.9 6.7 .9 3.2 2.3 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 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. 1962 Unless otherwise stated, statistics through 1962 and descriptive notes are shown in the 1963 edition of BUSINESS STATISTICS | 1963 j 1964 1962 I Annual total II Data from private sources are provided 1964 1963 III IV I II III | IV II 1965 III IV I Seasonally adjusted quarterly totals at annual rates GENERAL BUSINESS INDICATORS—Quarterly Series NATIONAL INCOME AND PRODUCT National income, totalf————---— Compensation of employees, total. bil. $. 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 _do_— 323.1 340.3 361.7 316.6 322.4 325.3 328.0 332.7 338.1 342.7 347.7 352.5 358.6 297.1 312.1 252.9 10.9 48.3 28.2 50.6 37.6 13.0 12.3 267.4 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 38.9 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 48.4 50.8 57.4 47.1 48.0 50.3 49.1 50.2 51.4 53.1 56.4 48.2 23.2 25.0 16.5 8.5 51.3 24.6 26.7 18.0 8.7 -.4 57.6 25.8 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 48.9 23.4 25.5 17.2 8.3 .2 51.1 24.5 26.6 17.7 8.9 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 21.8 22.3 22.9 23.5 25.9 545.5 553.4, 559.0 566.6 350.5 354.0 358.5 364.0 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 Wages and salaries, totaL__.__ do__. Private do— Military..—.. do.... Government civilian. _.. do— Supplements to wages and salaries _do_._ Proprietors' income, totalcf. 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 do... Corporate profits tax liability. _do___ Corporate profits after tax. ___do___ Dividends... _........ do... Undistributed profits „.... do..., Inventory valuation adjustment... __do Net interest, _. ..— do.. 241.6 10.8 44.7 25.9 49.8 36.6 13.2 12.2 22.1 24.4 26.8 556.2 583.9 622.6 Personal consumption expenditures, total..do.... 356.8 375.0 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 $ _ _..doHousehold operation. ___._..._ do.. Housing do.. Transportation... do.. 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 Gross national product, totalf— — Gross private domestic investment, total -do. 57.9 26.0 31.9 19.8 12.1 —.1 514.5 334.4 269.4 11.8 53.2 520.6 ••534.5 370.6 378.3 339.9 274.0 11.9 54.0 347.2 280.5 11.9 54.9 31.1 52.7 40.4 12.2 12.5 30.4 30.7 52.1 39.6 12.6 12.4 52.8 39.9 12.9 12.5 58.1 57.0 ' 62.9 58.0 26.0 32.0 20.0 12.0 .1 57.7 25.9 31.9 20.2 11.7 —.7 '64.3 '•27.7 '36.6 20.5 '16.1 -1.4 26.5 27.1 27.6 28.2 618.6 628.4 634,6 648.8 390.0 396.1 404.6 406.5. 418.1 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 I 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 62.0 28.5 24.3 184.3 34.9 94.8 13.9 171.7 25.5 53.1 12.5 87.1 85.9 87.2 87.3 90.4 94.7 49.9 26.2 37.9 6.8 7.0 24.0 24.7 25.4 577.4 587.2 599.0 369.2 372.0 377.4 381.3 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 80.2 82.8 do__._ 79.1 82.0 87.7 77.4 78.9 80.2 79.9 New construction..... _ .do. Residential nonfarm... _do Producers' durable equipment-.———..do..-. Change in business inventories.. do._._ Nonfarm— _»_-__.do- 44.2 23.6 29.0 5.9 5.3 46.6 25.2 31.0 4.4 3.9 48.9 26.0 35.1 3.7 3.6 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 48.7 25.1 36.0 5.7 6.1 Net exports of goods and services ._ do Exports _ __.„„____ dol" " Imports.. —.>_.___ do. 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 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 5.0 33.7 28.7 Govt. purchases of goods and services, total do Federal (less Government sales). ....""doIII" National defense 9 _ do. State and local „. Illdol 116.3 62.9 53.6 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 54.0 129.6 67.1 57.0 62.5 129.5 65.5 55.2 64.1 130.0 65.3 55.3 64.6 131.0 65.1 54.4 65.9 By major type of product: f Final sales, total. . do Goods, total „____ .._ ""do" Durable goods.. do" Nondurable goods ,.___ do Services „. „ do Construction. „ „ <j0~ 550.3 273.6 102.3 171.3 214.7 62.0 579.5 285.8 108.2 177.6 228.4 65.2 618.9 538.7 268.9 100.2 168.7 210.0 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 67.8 606.4 298.2 114.3 183.9 239.6 614.9 304.3 119.0 185.4 241.7 68.9 625.7 310.5 120.7 189.8 246,0 69.2 628.8 309.6 117.9 191.7 250.3 69.0 641.9 316.9 122.8 194.0 254.7 70.3 Inventory change, total.... do.... 5.9 4.4 3.7 6.9 6.1 Durable goods _ Ido 3.0 2.2 2.0 3.9 3.1 Nondurable goods IIdo~.II 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. 5.1 3.1 2.0 5.4 1.8 3.6 2.8 1.3 1.5 5.7 3.7 2.1 6.8 5.9 773-981 O-65-3 305.6 1.18.0 187.6 244:3 69.0 6.4 2.5 3.0 .7 3.4 1.8 concludes inventory valuation adjustment. ©Includes 9 Government sales are not deducted. 3.6 1.5 2.0 3.6 2.7 4.2 1.5 2.7 3.. 7 2.5 1.2 data not shown separately. s-1 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 1962 III Annual total June 1965 1964 1963 IV I II III IV I II 1965 III IV I II III 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 bil $ Personal consumption expenditures, total.. do.... Durable goods Nondurable goods Services do do do 476.4 492. 6 516. 0 478.3 483.0 485.4 487.9 494.8 502. 0 508.0 513.5 519. 6 522.7 532.2 318.5 330.6 347. 5 319.8 323.6 327. 0 328.6 332.4 334.4 340.9 345.0 351.8 352.4 360. 6 45.7 148. 3 124.5 49.3 151.6 129. 7 54.2 158.8 134.6 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 58.9 163.9 137. 9 Gross private domestic Investment, total — do.... New construction Producers' durable equipment Change in business Inventories do do do Net exports of goods and services 65.9 67.7 71.0 66.3 66.5 64.7 66.2 68.1 71. 7 70. 1 70.8 70.4 72.7 76.1 36.7 24.0 5.2 37.9 25.6 4.1 38.9 28.8 3.3 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 39.1 31.0 6.0 do 2.2 2.2 4.6 2.8 2.1 1.3 2.1 2.0 3. 5 5.4 3.4 4. 5 5.2 2.7 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 89.4 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 92.8 47.1 45. 8 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 59.5 431.8 444.5 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. 6 502.2 60.2 442.1 511, 6 63.3 448.3 27.8 27.5 32. 5 27.5 26.4 25.9 27.1 27.0 29.9 29. 5 34.0 31.0 35.5 30.2 '10.79 Personal saving § do NEW PLANT AND EQUIPMENT EXPENDITURES Unadjusted quarterly or annual totals: All industries . __bil. $ 37.31 39.22 44.90 9.62 10.18 8.25 9.74 10. 14 11.09 9.40 11.11 11.54 12. 84 do do do 14.68 7.03 7.65 15. 69 7.85 7.84 18. 58 9.43 9.16 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. 54 '2. 25 ' 2. 28 ... 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 .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 '.29 .34 '.39 '.41 '.58 .78 ' 1. 32 '1.66 1.08 ' 2. 59 '3 4. 04 34.19 38.35 37. 95 36.95 38. 05 40.00 41.20 42. 55 43.50 45.65 47.75 ' 49. 00 'i 49. 60 250.80 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 '20.75 '10.40 10.40 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 1.30 '1.25 1. 45 1.75 2.75 '2.55 '6.60 '6.80 4. 55 ' 11. 30 '3 16. 20 4,800 4,815 4,825 4,835 4,850 4,860 4,875 4,895 4,910 4,930 ' 8, 803 ' 9, 595 ' 8, 619 '9,263 '9,380 '9,691 '9,997 '10,950 9,730 ' 4, 343 '4,372 '715 ' 721 '1,653 ' 1, 692 '4,410 '732 ' 1, 736 ' 4, 599 ' 4, 709 '720 '691 ' 1, 742 '1,736 4,901 '681 '1,800 4,663 664 1,824 '201 ' 1, 019 '208 '1,134 '209 '966 '203 '1,083 '207 '1,085 '220 '1,126 221 959 '682 '266 '319 '97 '1,142 '618 '228 •'296 '1,327 '464 '274 '589 ' 1, 344 '540 '256 '548 ' 1, 569 ' 2, 222 '821 '551 '833 '612 '568 '406 1,399 1,003 684 -288 '32,579 '34,011 '38,381 ' 8, 436 '8,371 ' 7, 764 ' 8, 563 '8,677 '9,007 r 9, 411 '9,261 ' 9, 695 ' 10, 014 9, 156 ' 6, 690 ' 2, 917 5,589 3,111 101 '306 173 283 IT ' 31 ' -430 '-302 '-936 '58 ' -256 '-239 '-1,039 '-1,032 Excess of recorded receipts or payments (~-)___do '-1,006 '-2,269 '-1,637 '103 ' -288 '-152 ' -291 '-430 Unrecorded transactions (net) _ do__~ '-1,197 '-401 '-1,161 ' -426 ' -472 ' -160 ' -76 '-268 -574 -94 Manufacturing Durable goods Industries Nondurable goods industries Mining __ _ Railroads Transportation, other than rail Public utilities Communications Commercial and other -_ _ Seas. adj. qtrly. totals at annual rates: Manufacturing do Railroads do Transportation, other than rail— -do Public utilities do Communications do Commercial and other do BUSINESS POPULATION Firms in operation, end of quarter (seasonally ad- 4 4, 755 4 4, 797 U.S. BALANCE OF INTERNATIONAL PAYiMENTScfJ Quarterly Data are Seasonally Adjusted '33, 585 ' 36, 280 '40,018 Imports: Merchandise Military expenditures _ do__ _. ••16,173 ' 16, 992 ' 18, 619 r 4, 097 ' 4, 053 ' 4, 058 '4,219 '738 ' 755 '752 '801 '•3,078 '2,929 ' 2, 824 do ' 5, 878 ' 6, 515 ' 7, 014 ' 1, 454 ' 1, 528 ' 1, 576 '1,594 Remittances and pensions do Govt. grants and capital outflows. _ _ ^ _ _ _ _ _ _ d o U.S. private capital (net) _ Direct investments __ Long-term portfolio _____ Short-term ___ U S receipts recorded Exports: Merchandise Services and military sales. „_ ' 8, 443 ' 8, 610 738 4,293 '837 '839 ' 4, 551 ' 4, 260 ' 3, 425 ' 4, 456 do do.— 1,654 ' 1, 976 do__ __ 1,227 '1,695 '785 '544 ,do~_. do '6,462 ' 2, 376 ' 1, 975 ' 2, 111 '192 '176 ' 1, 073 ' 1, 079 '891 '436 '217 ' 238 '957 '514 '314 '129 '216 '1,104 '212 ' 1, 294 ' 1, 094 ' 1, 538 '466 '626 '586 '562 ' 486 '-94 '20,604 '22,069 '25,288 ' 5, 293 ' 5, 037 '4,993 ' 5, 494 ' 5, 622 ' 5, 960 ' 6, 149 '6, 067 ' 6, 382 do __do_~_. '9,674 '10,284 ' 11, 729 ' 2, 362 ' 2, 581 ' 2, 510 ' 2, 615 ' 2, 516 '2, 643 ' 2, 935 ' 2, 924 '2,953 1,280 Repayments on U.S. Govt. loans. _ _ _ _ _ _ _ _ _ d o Foreign capital other than liquid funds (net).do__._ '1,021 '970 '688 ' 697 '667 606 175 r 287 '466 '183 '78 '194 '260 '404 '135 189 '215 '213 r 114 ' 193 '77 190 '170 U2.63 2 12. 92 '5.40. ' 2. 67 2.73 5.57 2.77 2.80 .34 .39 .60 1.82 22.35 '21.25 ' 10. 45 11.20 11.20 '10.85 1. 35 1.50 2. 50 6.60 316.50 -668 Total, net receipts or payments (— ) do_. __ -2,203 '-2,670 '-2,798 ' -433 ' -711 '-1,199 '-1,108 '—210 ' -153 ' -257 ' -582 ' -593 '-1,366 Net receipts or payments (— ), incl. transactions in nonmarketable, medium-term convertible Govt. -617 securities mil. $ _ '-849 '-955 '-35 ' -128 ' -257 '-460 '-390 '-1,316 '-1.967 '-2.423 r * Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1963 Revised, » Preliminary. 1 is based on incomplete data. fSee corresponding note on p. S-l (revisions for qtrs. of 1961 Estimates for Apr.-June 1965 based on anticipated capital expenditures of business. 2 appear on p. 8 ff. of the July 1964 SURVEY). Estimates for July-Sept. 1965 based on anticipated capital expenditures'of business. .Personal saving is excess of disposable income over personal consumption expenditures Anticipated expenditures for the year 1965 are as follows (in bil. $): All industries, 50.40; shown as a component of gross national product on p. S-l. manufacturing, total, 21.78; durable goods industries, 10.89; nondurable goods industries, c^More complete details are given in the quarterly reviews in the Mar., June, Sept., 10.89; mining, 1.32; railroads, 1.63; transportation, 2.64; public utilities, 6.67; commercial and and Dec. issues of the SURVEY. other (incl. communications), 16.36. 3 includes communications. 1 Revised data for 1960-61 appear on p. 10 of the June 1964 SURVEY.
@FedFRASER