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NATIONAL INCOME AND PRODUCT TABLES
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
5

1964
1962

1963

1964

II

IV

III

1964

II P

I

1962

1963

1964

aual
Seasonally adjusted at annual
rates
Gross national product

658. 0
556.2 583.9 622.6 618.6 628.4 634.6 648.8 658.0
60. 6
48.4 52.1 57.0 57.0 58.7 56.3 62.0 60.6
187. 7
162.0 167.5 177.3 175.3 179.5 181.3 184.3 187.7
174. 7
146.4 155.3 165.1 163.8 166.4 169.0 171.7 174.7

I

II"

Personal income

442.4 464.1 491.4 487.9 494.5 502.2 511.6 519.9

Wage and salary disbursements

297.1 312.1 331.6 328.7 334.3 340.0 347.2 352.2

Commodity-producing industries. _
Manufacturing only __ _
^
Distributive industries
__
Service industries
Government
__

118.5 123.3 129.8 128.9 130.8 132.8 136.7 138.3
94.2 98.0 103.0 102.4 103.8 105.2 108.9 110.2
76.6 80.3 84.9 84.1 85.7 87.2 89.0 90.5
46.4 49.3 52.6 52.4 52.9 53.9 54.8 55.6
55.6 59.2 64.2 63.4 64.9 66.1 66.8 67.7

__

87.2

87.3

90.4

94.7

94.3

48.9

48.9

48.9

48.7

49.9

50.9

Other labor income

12.3

13.1

14.1

14.0

14.2

14.5

14.7

14.8

25.2
21.3

26.0
22.9

26.2
22.7

25.7
23.1

25.1
23.6

26.2
23.7

26. 3
26.3
24. 6
24.6

35.1

36.0

37.9

51.7
39.1
12.6

52.1
39.6
12.6

55.2
40.7
14.5

34.6

52.0
39.3
12.7

52.7
40.4
12.2

31.0

50.6
37.6
13.0

52.8
39.9
12.9

29.0

37.7

49.8
36.6
13.2

35.6

Proprietors' income
Business and professional
Farm
_ _
_

12.3

12.4

12.4

12.4

5.7

6.8

12.5

12.5

12.5

3.7

2.8

Rental income of persons

3.7

5.7

12.2

4.4

7.0
-.2

21.0

6.1
-.4

19.8

20.0

2.7
.1

19.8

20.5

3.4
.3

18.0

20.2

3.6
.1

5.9
— .2
-.2

16.5

3.9
.5

Dividends
_ _.

30.0

32.9

36.0

35.7

36.3

36.9

37.6

38.2

5.0

Change in business inventories

87.7

5.3
.6

Producers' durable equipment _ _

82.0
46.6

5.9

Residential nonf arm _ _ __
Other
_

79.1

23.6
20.6

New construction

7. 1
7.1

34.7

36.7

38.2

38.0

38.0

38.4

39.6

39.3

33.7
28.7

39.2
39. 2
32.2

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

14.3

15.2

16.0

16.1

16.1

16.1

16.4

16.8

2.9
4.8
12.7

2.8
5.0
13.7

2.6
5.2
14.4

2.5
5.3
14.2

2.4
5.2
14.2

2.6
5.3
14.3

2.4
5.4
15.3

2.1
5.7
14.8

10.3

11.8

12.7

12.5

12.8

13.0

13.2

13.3

57.9
4». 1
8.8

61.6
51.9
9.6

59.5
49.0
10.6

57.7
47.3
10.5

58.8
48.2
10.6

60.2
49.3
10.9

63.3
52.0
11.3

64.6
53.0
11.6

Net exports of goods and services
Exports
Imports

IV

44.2

Gross private domestic investment....

Nonfarm
Farm

III

Seasonally adjusted at annual
rates

423. 0
Personal consumption expenditures. __ 356.8 375.0 399.3 396.1 404.6 406.5 418.1 423.0
Durable goods
Nondurable goods
Services. _

II

1965

_

29.2
25.2

_

Government purchases of goods and
services

30.7
26.3

35.2
28.2

33.7
27.9

35.7
28.7

37.1
29.4

116.3 122.6 128.6 129.6 129.5 130.0 131.0 133.6

Personal interest income _

62.9

64.7

65.5

67.1

65.5

65.3

65.1

66.7

National defense
Other___
Less: Government sales

53.6
10.2
.9

55.2
10.3
.8

55.4
11.2
1.1

57.0
11.0
.9

55.2
11.2
.9

55.3
11.3
1.2

54.4
11.9
1.2

55.4
12.4
12. 4
1.1
1. 1

State and local

53.5

57.9

63.0

62.5

64.1

64.6

65.9

66.9
66. 9

Less: Personal tax and nontax payments
Federal
State and local

476.4 492.6 516.0 513.5 519.6 522.7 532.2 536.7
536. 7

Less: Personal consumption expenditures

116.7 118.5 120.7 120.5 121.0 121.4 121.9 122.6

Equals: Personal saving

Federal

Less: Personal contributions
social insurance

for

Equals: Disposable personal income. __ 384.6 402.5 431.8 430.2 435.6 442.1 448.3 455.3

Addenda:
Gross national product in constant
(1954) dollars
Implicit price deflator for seasonally
adjusted GNP, 1954=100

356.8 375.0 399.3 396.1 404.6 406.5 418.1 423.0
27.8

27.5

32.5

34.0

31.0

35.5

32.3

30.2

Addendum: Disposable personal income in constant (1954) dollars
. . 343.4 354.9 375.8 374.7 378.8 383.1 386.7 390.2
.

Preliminary.

v 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

(H-6)

[Billions of dollars]

[Billions of dollars]
1964

1962

1963

1964

III

II

1965
5

IV

I

1962

1963

1964

Seasonally adjusted at annual
Qual
rates
Gross national product
Less: Capital consumption allowancesEquals : Net national product
Less: Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current surplus
of government enterprises
Equate: National income
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
Equate: Personal income
Preliminary.
4




556.2 583.9 622.6 618.6 628.4 634.6 648.8 658.0
48.7

50.8

53.4

53.1

53.7

54.4

54.9

55.4

507.5 533. 1 569.1 565.5 574.8 580.2 593.9 602.6
52.8 55.9 59.4 59.0 60.1 60.7 61.7
2.4
2.4
2.5
2.5
2.5
2.5
2.5
-1.8 -2.7 -2.0 -2.4 -1.4 -2.6 -4.2
1.6

1.0

.9

.7

.9

1.0

.6

455.6 478.5 510.1 507.1 514.5 520.6 534.5

1965

1964

II *

62.0
2 5
2.5
n.a.
n.a.
.6
.6
n.a.

II

III

IV

I

II"

Seasonally adjusted at annual
rates
356.8 375.0 399.3 396.1 404.6 406.5 418.1 423.0

Goods and services, total

48.4

52.1

57.0

57.0

58.7

56.3

62.0

60.6

Automobiles and parts

20.6

22.7

24.2

24.1

25.6

22.8

28.5

26.6

Furniture and household equipment

20.2

21.4

24.0

24.2

24.2

24.5

24.3

24.6

7.6

8.0

8.8

8.8

8.8

9.0

9.2

9.4

162.0 167.5 177.3 175.3 179.5 181.3 184.3

187.7

Durable goods, total

Other
Nondurable goods, total
Food and beverages
Clothing and shoes - _

84.6

87.1

91.7

90.6

92.8

93.6

94.8

96.8

. 29.9

30.7

33.4

33.2

33.8

34.3

34.9

35.6

48.4

50.8

57.4

57.9

58.1

57.0

62.9

n.a.
n.a.

23.9

26.9

28.7

28.4

29.0

29.3

29.6

30.0

0

0

0

0

.1

-.1

0

0

32.3

34.3

35.7

35.5

35.5

35.9

37.1

36.9

Housing

46.5

48.9

51.5

51.1

51.8

52.4

53.1

63.8

8.0
16.5
2.4

8.6
18.0
2.4

9.2
19.8
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

9.5
9. 5
21.0
2. 5
2.5

Household operation

21.8

22.7

24.4

24.0

24.8

25.1

25.5

25.8

Transportation

11.3

11.7

12.2

12.2

12.2

12.3

12.5

12.6

Other

67.0

72.0

77.1

76.4

77.7

79.1

80.7

82.4

442.4 464.1 491.4 487.9 494.5 502.2 511.6 519. 9
519.9

Gasoline and oil

12.3

12.8

13.5

13.5

13.5

13.7

13.9

14.2

Other

35.2

36.9

38.7

38.0

39.3

39.7

40.7

41.1

146.4 155.3 165.1 163.8 166.4 169.0 171.7

174.7

Services* total -

Preliminary.

CURRENT BUSINESS STATISTICS

JL HE STATISTICS here update series published in the 1963 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SUKVEY
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

1962

| 1963 | 1964

1962

II

Annual total

III

Data from private sources are provided

1963

I

IV

II

1964

| III

I

IV

II

1965

IV

III

I

UP

Seasonally adjusted quarterly totals at annual rates

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

455.6

478.5

510.1

454.3

457.8

463.2

467.9

474.6

481 9

490 0

498 4

507 1

514 5

520 6

534 5

Compensation of employees, totaL____-____do.__

323.1

340.3

361.7

322.4

325.3

328.0

332.7

338.1

342. 7

347.7

352.5

358.6

364.8

370.6

378. 3

Wages and salaries, total
-__do__.
Private
do
Military
-do
Government civilian
„ • _ •_ _ __ _do
Supplements to wages and salaries.
..do
Proprietors' income, totaled. ._
..
do...
Business and professionalcT
_•
do
Farm
do. _
Rental income of persons
do___
Corporate profits and inventory valuation adjustment, total
_ _ __ __ _>
bil. $

297.1
241.6
10.8
44.7
25.9
49.8
36.6
13.2
12.2

312.1

296.6
241 5
11.0
44. 1
25.8
49.9
36.6
13.3
12.2

299.2

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

328.7

334.4

339.9

347.2

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

National income, totalf

'

- .

243 5
10 7
45.0
26.1
49.7
36.7
13.0
12.2

260 8
11 7
50 7
29.4
51.2
38 6
12 6
12.4

265 3
11 7
51 7
29.9
51.7
39 1
12 6
12.4

269 4
11 8
53 2
30.4
52.1
39 6
12 6
12.4

274 0
11 9
54 0
30.7
52.8
39 9
12 9
12.5

280 5
11 9
54 9
31.1
52.7
40 4
12 2
12.5

352.2
284 5
11 9
55 8
31.5
55.2
40 7
14 5
12.5

-.- __ -

Gross national product, totalf.

48.4

50.8

57 4

48.0

48.3

50 3

49 1

50 2

51 4

53 1

56 4

57 9

KQ 1

57 o

62 9

_do
_____do
do
do
do
do

Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits. __
Inventory valuation adjustment
Net interest

252.9

383. 7

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
31.8
19 8
11. 9
— 2

47.9
23.0
24.9
16 4

48.1
23 1
25.0
16 5

49.4
23 8
25.7
17 1

48.9
23 4
25.5
17 2

51.1
24 5
26.6
17 7

8.3
2

51 3
24 5
26.7
17 9
89

2

56 6
25 4
31. 2
19 4
11 8

— 9

54 3
26 0
28.3
19 1
9 2
12

2

57 9
26 0
31.9
19 8
12 1
— I

58 0
26 0
32 0
9fi n
12 0

57 7
25; 9
31.9
20 2
11 7
7

64 3
27 7
36.6
20 5
16 1
14

15

do

22 1

24 4

26 8

21 8

23 5

24 0

24 7

9E A

9E Q

9fi K.

97 1

27 6

98 9

98 a

-do

8.5
.0

8.5
.1

22 3

8.6
9
22 9

8.9

1

556.2

583.9

622.6

553.4

559.0

566.6

571.8

577.4

587.2

599. 0

608.8

618.6

628.4

634.6

648.8

658.0

Personal consumption expenditures, total, .do. __.

356.8

375.0

399.3

354.0

358.5

364.0

369. 2

372.0

377.4

381.3

390. 0

396.1

404.6

406.5

418.1

423.0

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 be verages..
._._ do
Gasoline and oil
do
Services, total©
__.
__do
Household 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
19 g

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

E

EO 9

eq a

EE Q

E7 n

22.6
21.0
166.6
30.1
86 9

22.6
21.6
168.6
31.3
87 3

23.2
22.3
168.9
30.9

24.3
23.1
172.9
32.1

87 8

8Q 7

24.1
24.2
175.3
33.2

25.6
24.2
179.5
33.8

iq r\

R9 n
28.5
24.3
184.3
34.9
94 8

fin R
26.6
24.6
187.7
35.6
Qfi 8

19 Q

56 3
22.8
24.5
181.3
34.3
93 6

iq q

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

1 Ka G

1 EQ o

IRQ n

22.9

23.0

m

Gross private domestic investment, total. _ _do._._

22.0
47 %

U

K

El

I

22.4
20.8
166. 0
30.4
86 4

El

I EO I

19 8
1 EO n

22.4
48 fl

48 R

19 7

n

o

22.4

U

7

4Q 9

U

QD ft
1q c

1

23.5

24.0

Ifil

79.1

82.0

87.7

78.9

80.2

79.9

77.9

80.2

44 2
23 6
29.0
5.9
53

46 6
25 2
31.0
4.4
39

48 Q

44 1
23 5
28.8
6.1
55

AK

K

44 Q
94 n

44 7
94 3

4H Q
OK I

9K A

29.7
5.4
4

29.6
3.6
3-n

30.7
3.6

31.4
4.2

_.._ do.__.
do
do

4.0
29 2
25 2

qry 7
9fi 3

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

116.3
62.9
53 g
53 5

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

do
do
do
do
do"""
do

550 3
273 6
102 3
171.3
214.7
62.0

do
"do"""
do

5.9
30
2. 9

Net exports of goods and services
Exports
.
Imports
_

_

4.4

26 0
35.1
3.7
36
7.0

24 4
29.6
5.1
4 4.

0

4.4

3.9

ne q

9t- e

116.1
63.6
55 3
52 5

115. 9
62.4

118.7
63.8

547 3
273 5
103 5
170.0
212.2
61.6

554 0
101 4
172.6
216.8
63.2

6.1
-I

5.1
31

5.4

3.0
2.0
and n,JS™i L^^J^ tRevised back
series. Estimates of national income and product
reyised
?eVis?om nSn^n^? **!!&?*
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

3.6

Inventory change, total
Durable goods...
_
Nondurable goods

777-184 O-65—3




_._.

4.3

90 9

9Q R
9E q

122.6
64.7
55 2
57 9

128.6
65.5
55 4
63* 0

579 5
285 8
108 2
177.6

618 9
305 6
118 0
187.6

228.4
65.2
4.4
9 9

2.2

qt 9

244.3
69.0
3.7
2 ft
1.7

q

EO n

EO E

cq K
KA 0

3.4

4.3

82.8

4.2

87.1

85.9

87.2

32.4
6.4

5.8

34.2
2.5

7.7

34.6
3.7

35.6
2.8
2.7

34.5
26. 8

33.7
27.9

5.7

7.0
35.7
28.7

121.4
65.1

120.9
64.3

122.8
64.4

124.8
64.9

125.2
64.3

129.6
67.1
57.0
62.5

EC

E7q 7

Eoq (\

98fi ^

9QK 7
10fi R

inr n

111 0

175.8
224. 7
62.7

223.5

3.6
1.5
2.0

175.5

14 9

7

25.5
cq -i

25.8

94.7

94. 3

37.9
6.8

37.7
5.7

9E 1

36.0
5.7
R 1

7.7

5.0

7.1

1 1fl 4

183.9

33.7
28.7

39.2
32.2

129. 5
65.5
55.2
64. 1

130.0
65.3

131.0
65.1

133.6
66.7
55. 4

fi.98 8

189.8
246 0
69.2

250.3
69.0

194.0
254 7
70.3

2.8
1.3
1.5

5.7
3.7
2.1

6.8
5.9
.9

114 Q

179.9

37. 1

625. 7

7

eon n

63.0

90.4

48.9

32. 6
26. 9

9Sfl Q

220.0

^87.3

iq Q

19 °>

31. 0

n

ECl

25.1
59 4

30.5

970 9

104 1
174. 1

24.8

28.8

EC' o

-iq 7

12.2

7

do
do
...do
.do.II.
_
do

New construction.. _
_
Residential nonfarmProducers' durable equipment
Change in business inventories.
Nonfarm
.

Q9 8

1 on Q

63.7

179.1
231.2
66.2

234.5

239.6

67.8

68.6

185.4
241.7
68.9

3.6
2. 7
.9

4.2
1.5
2.7

6.4
3.0
3.4

2.5
.7
1.8

3.7
2.5
•1.2

cflncludes inventory valuation adjustment.
9 Government sales are not deducted.

re q

PA R

qnn f>
o

m

191.7

©Includes 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

1964

1963

1962
III

Annual total

July 1965

IV

I

III

II

1965

1964

1963

IV

III

II

I

I

IV

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, totalt--—
bll. $_.
Personal consumption expenditures, total.. do
Durable goods
Nondurable Roods
Services

do
do
do

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 p 536. 7

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

do

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

do
do
do

Gross private domestic Investment, total
New construction
Producers' durable equipment
Chouse In business Inventories

476.4

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

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

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. $._ 442.4
57.9
Less: Personal tax and nontax payments
do
384.6
T5ouils° Disposable personal Income
do

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

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

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

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

5.40
2.67
2.73

5.57
2.77
2.80

.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
.39
.58
1.32
1.08
2.59

.34
.41
.78
1.66

.34
.39
.60
1.82

34.04

34.19

Net exports of goods and services

do....

Govt. purchases of goods and services, total.. do
Fedpral
do
State and local
do

Personal savin" §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All Industries
_bll. $—

Transportation, other than rail.
Public utilities

do
do
do
do
do
do

15.69
7.85
7.84

18.58
9.43
9.16

3.72
1.79
1.93

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

37.95

36.95

38.05

40.00

41.20

42. 55

43.50

45.65

47.75

49.00

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

1.35
1.30
1,25
1.50
1.45
1*75
2.50
2.75
2.55
6.60
6.60
6.80
4.55
11.30 316.20 3 16. 50

do
-do
do

15.05
7.25
7. 80

15.00
7.30
7.70

____do
do

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

4,800

4,815

4,825

4,835

4,850

4,860

4,875

4, 895

4, 910

__do

Other services

i 49. 60 2 50. 80

22.35
11.20
11. 20

4, 930

44,755 * 4, 797

U.S. BALANCE OF INTERNATIONAL
PAYMENTScfJ
Quarterly Data are Seasonally Adjusted
U.S. payments, recorded
.mil. $_. 33, 585
-

10.79 i 12. 63 2 12. 92

14. 68
7.03
7.65

14.85
7.35
7.50

Commercial and other
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally ad-

Imports:
Merchandise

P32.3

4.13
2.03
2.10

Seas. adj. qtrly. totals at annual rates:
Manufacturing
Durable goods Industries
Nondurable goods Industries

30.2

38.35

Manufacturing
do
Durable goods Industries
do.
Nondurable goods Industrles.--________do
Mining
Railroads
_
Transportation, other than rail
Public utilities
Communications
Commercial and other

511.6 * 519. 9
63.3 *64.6
448.3 p 455. 3

do

36,280

40, 018

8,443

8,610

8,803

9,595

8,619

9, 263

9,380

9,691

9, 997

10, 950

9,730

16, 173
3,078
5,878

16, 992
2,929
6,515

18,619
2,824
7,014

4,097
752
1,454

4,053
801
1,528

4,058
755
1,576

4,219
738
1, 594

4,343
721
1,653

4,372
715
1, 692

4,410
732
1,736

4, 599
720
1,742

4,709
691
1, 736

4,901
681
1, 800

21.25
10.45
10.85

4,663
664
1,824

Remittances and pensions
Govt. grants and capital outflows

do
do_-^-

738
4, 293

837
4,551

839
4,260

176
1,073

192
1,079

216
1,104

212
1,294

201
1,019

208
1,134

209
966

203
1,083

207
1,085

220
1,126

221
959

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

do
do
do— —
do

3, 425
1,654
1,227
544

4,456
1,976
1,695
785

6,462
2,376
1,975
2,111

891
436
217
238

957
514
314
129

1,094
626
562
-94

1,538
466
586
486

682
266
319
97

1, 142
618
228
296

1,327
464
274
589

1,344
540
256
548

1,569
551
612
406

2,222
821
833
568

1,399
1,003
684
-288

do

32, 579

34, Oil

38,381

8,436

8,371

7,764

8,563

8,677

9,007

9,411

9,261

9,695

10,014

9,156

_ do.
do

20,604
9,674

22, 069
10, 284

25,288
11, 729

5,293
2,362

5,037
2,581

4,993
2,510

5, 494
2,615

5,622
2,516

5,960
2,643

6,149
2,935

6,067
2,924

6,382
2,953

6,690
2,917

5, 589
3,111

1,280
1,021

970
688

697
667

606
175

287
466

183
78

194
260

404
135

189
215

213
114

193
77

•190
170

101
306

173
283

-1,006 -2,269 -1,637
-1,197
-401 -1,161

-7
-426

-239
-472

-1,039 -1,032
-160
-76

58
-268

-256
103

31
-288

-430
-152

-302
-291

-936
-430

-574
-94

Total, net receipts or payments (-)
do.... -2, 203 -2,670 -2,798 -433 -711
Net receipts or payments (-), incl. transactions in
nonmarketable, medium-term convertible Govt.
securities
___mil. $_.
-1,967 -2,423
r
Revised.
» Preliminary.
1
Estimates for Apr.-June 1965 based on anticipated capital expendi tures of }msiness.
2
Estimates for July- Sept. 1965 based on anticij>ated ca] )ital exp enditure 3 of busi ness.
Anticipated expenditures for the year 1965 are as f ollows (i n bil. $) • All ind ustries, 50.40;
manufacturing, total, 21.78; durable goods industri es, 10.89 nondur able goo ds indw tries,
10.89; mining, 1.32; railroads, 1.63; transportation, 2. 64; publicutilitie 3, 6.67; co mmercia 1 and
other (incl. communications) , 16.36. 3 Includes com municat ons.

-1,199 -1,108

-210

-153

-257

-582

-593

-1,366

-668

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




oc
-617
-390 -1,316
-460
-257
-128
-849
-955
4Ur adjusted . Data represen t firms in operat on as o Jan. 1; estimat 3 for Jan. 1, 1963
on p. S- L (revisions for qtrs. of 1961
fSee coi respond!ng note
is bas id on inc omplete data.
appea r on p. 8 ff. of the July 1964 SURVE r).
§Peirsonal sa ring is e scess of d isposabl e income over pe rsonal ccmsumpt Ion expenditures
showrL as a coniponent ()f gross n ational p roduct o Q p. 8-1.
<?M ore com plete de tails are given in the qu arterly r eviews in the ftlar., June, Sept.,
and r>ec. issues of the £5URVEY.
IRe vised da ta for 1960-61 app ear on p. 10 of the June 19 34 SURVE Y.

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