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SURVEY OF CUREENT BUSINESS

April 1966

NATIONAL INCOME AND PRODUCT TABLES
Table 1.—-Gross National Product

Table 3.—Personal Income and Its Disposition

[Billions of dollars]

[Billions of dollars]
1965

1963

1964

1965

I

II

III

IV

1963

IP

1964

1965

Seasonally adjusted at annual
rates
Gross national product
589.2 628.7 676.3 657.6 668.8 681.5 697.2
Personal consumption expenditures.... 373.8 398.9 428.7 416.9 424.5 432.5 441.0
Durable goods
53.4 58.7 65.0 64.6 63.5 65.4 66.4
Nondurable goods
_. 168.0 177.5 189.0 182.8 187.9 190.5 195.0
Services
_. 152.3 162.6 174.7 169.5 173.1 176.7 179.6
Gross private domestic investment

86.9

81.2
Nonresidential
„ 54.3
19.7
Producers' durable equipment
34.6
26.9
Nonfarm....
26.3
Farm
..__
.6
Change in business inventories
5.7
Nonfarm
_ 4.9
Farm .
_
.8

Net exports of goods and services

5.9

32.4
26.4

Imports

92.9 105.7 103.4 102.8 106.2 110.3
88.1
60.5
21.1
39.4
27.5
27.0
.6
4.8
5.4
-.6

97.4
69.8
24.3
45.5
27.6
27.1
.6
8.2
7.9
.3
7.1

8.6

37.0
28.5

39.0
31.9

94. 6
66.9
23.2
43.7
27.7
27.1
.6
8.8
9.2
-.4
6.0

34.7
28.6

9.6.4
68.4
24.5
43.9
28.0
27.5
.6
6.4
6.6
-.2

98.6 100.2
70.9 73.0
24.2 25.4
46.7 47.6
27.-7 27.2
27.1 26.7
.6
.5
7.6 10.1
8.9
7.0
.6
1.2

8.0

40.4
32.4

7.4

40.1
32.7

6.9

40.8
33.9

Government purchases of goods and
122.6 128.4 134.8 131.3 133.5 135.4 139.0

Federal
National defense
Other
State and local

_

_

64.4
50.8
13.6
58.3

65.3
49.9
15.4
63.1

66.6
49.9
16.7
68.2

64.9
48.8
16.1
66.4

65.7
49.2
16.5
67.8

66.5
49.8
16.7
68.9

69.2
52.0
17.2
69.8

Addenda:
Gross national product in constant
(1958) dollars
.__._ 550.0 577.6 609.6 597.7 603.5 613.0 624.4
Implicit price deflator for seasonally
adjusted GNP, 1958=100.
107.1 108.9 110.9 110.0 110.8 111.2 111.7

714. ]
452. 6
on? i
ZOL. 1
182.7
„„ „
111. 8
,„ „
£jj-J
*£• J
4f. 7
28.1
•®

Personal income

oc'n

salary disbursements. . _ _
Commodity-producing industries _
Manufacturing
_
Distributive industries
Service industries
Government
_ __ _.

16.5

18.2

17.5

18.1

18.4

18.9

19.4

54.5
40.3
14.3

51.9
39.9
12.0

54.6
40.1
14.5

55.4
40.4
15.0

56.2
40.7
15.5

56.9
41.0
15.9

Dividends

17.6
15.8

18.2
17.2

18.6
18.9

18.5
18.0

18.6
18.6

18.6
19.2

18.7
19.9

18.8
20.6

36.0

36.7

37.5

38.2

39.5

37.5

41.2

39.7

41.5

18.6

19.5

Transfer payments
Old-age and survivors insurance
benefits.
State unemployment insurance
T"»pr)Afi^«

Veterrns' benefits
Other._._

Less: Personal tax and nontax pay-

-

Personal consumption expendi-




16.0

18.0

16.6

16.6

2.8
5.0
12.1

2.6
5.3
12.7

2.2
5.6
13.4

2.4
5.5
13.9

2.2
5.6
13.1

2.2
5.6
13.1

2.0
5.7
13.4

2.0
5.8
14.2

11.8

12.4

13.2

12.9

13.0

13.3

13.6

16.8

60.9

59.2

65.4

64.8

66.2

64.8

65.7

68.1

488.7
465.1

373.8 398.9 428.7 416.9 424.5 432.5 441.0
9.0 10.0 11.1 10.6 11.0 11.3 11.6

452.6
11.9

.6

.6

.6

.6

.6

.6

.6

.6

26.3

24.9

23.3

22.4

26.8

27.1

23.6

A

^^^^^^S:^ 380.6 406.5 427.7 417.9 421.7 432.3 439.4 443.1

1965

I

II

III

IV

IP

Table 4.—Personal Consumption Expenditures by Major Type
[Billions of dollars]
1966

1965
55.7

58.7

57.7

58.3

536.5 573.0 617.5 599.9 610.5 622.4 637.4

1963

60.7

1964

1965

653.4

54.6
2.2
-.7
.7

58.0
2.3
-.5
1.2

62.0 61.5 61.4
2.3
2.3
2.3
-.2 -3.1 -1.4
1.2

1.4

1.3

59.1

714.1
714. 1

59.8

62.0
2.3
1.4
1.2

62.9
2.3
2.4
1.1

1 0
1.0

I

II

III

IV

IP

Seasonally adjusted at annual
rates

fi9
62.5*

481.1 514.4 554.7 540.6 549.5 557.9 570.8

2.3
n.a.

na
n.a.

58.1

64.5

73.1

71.7

72.0

73.5

75.2

n.a.

26.8

27.8

29.5

28.9

29.2

29.6

30.2

36.6

.0

.0

.0

.0

.0

.0

.0

0
.0

34.2

36.8

36.0

35.1

38.9

37.3

39.2

19.1
17.2
2.3

20.6
18.9
2.3

19.9
18.0
2.3

20.4
18.6
2.3

20.8
19.2
2.3

21.1
19.9
2.3

21.8
20 6
20.6
23
2.3

64.8 495.0 530.7 516.2 524.7 536.0 546.0

556 9
556,9

Plus: Government transfer payments
to persons
33.0
Interest paid by government
(net) and by consumers
_ _ _ 17.5
Dividends
15.8
Business transfer payments
2.2

p Preliminary.

15.2

20.4

1966

589.2 628.7 676.3 657.6 668.8 681.5 697.2

Less: Capital consumption allowances. 52.8

Equals: Personal income

38.4

20.4

Seasonally adjusted at annual
rates

Less: Corporate profits and inventory
valuation adjustment.. __
Contributions for social insurance
Wage accruals less disbursements__._._ _

35.2

Preliminary.
1965

Equals: National income

37.1
39.2

383.4 409.5 440.5 428.1 436.1 444.4 453.2
112 7

[Billions of dollars]

Plus: Subsidies less current surplus of
government enterp rises

34.3
36.6

403.8 435.8 465.3 451.4 458.5 471.2 480.3

Equals: Disposable personal income

and Personal Income

Less: Indirect business tax and nontax liability
Business transfer payments.
S tatistical discrepancy

377.0
152.2
122.7
89.8
61.1
73.9

51.1
39.1
12.0

Less: Personal contributions for so-

Table 2,-Relation of Gross National Product, National Income,

Equals: Net national product. .

556.9

311.2 333.5 357.4 348.9 353.6 359.0 368.1
125.7 133.9 143.9 140.8 142.3 144.4 148.0
100.6 107.2 115.5 113.0 114.2 116.0 118.9
76.0 81.1 86.5 84.7 86.1 87.0 88.2
49.9 54.1 58.1 56.5 57.5 58.5 59.9
59.6 64.3 68.9 66.8 67.7 69.0 72.0

14.8

Rmials: Personal savins1

Gross national product

IP

50.8
37.8
13.0

Interest paid by consumers
Personal transfer payments to
foreigners
.. _
_ __ _

1964

IV

Other labor income

p Preliminary.

1963

III

Proprietors' income
Business and professional
Farm

M R
143. 6

oo. 0
17- 5

II

464.8 495.0 530.7 516.2 524.7 536.0 546.0

Wage and

31.1

oo. 0

I

Seasonally adjusted at annual
rates

0. O

"• *

1966

1965

1966

Personal consumption expenditures
. 373.8 398. 9 428.7 416.9 424.5 432.5 441,0

452.6

53.4

58.7

65.0

64.6

63.5

65.4

66.4

68.8

Automobiles and parts
24.3
Furniture and household equipment . 21.9
Other
_.
7.3

25.8
24.7
8.2

30.0
26.0
9.0

30.3
25.5
8.8

29.3
25.4
8.9

30.3
26.0
9.1

30.1
27.3
9.1

31.5
28.0
9.3

168.0 177.5 189.0 182.8 187.9 190.5 195.0

201.1

99.3 102.2
35.2 35.9
14.8 15,0
41.2 42.0

105.0
37.5
15.6
43.0

152.3 162.6 174.7 169.5 173. 1 176.7 179.6

182.7

66.7
26.6
12.5
73.8

68.0
26.9
12.7
75.1

Durable goods

Nondurable goods
Food and beverages
Clothing and shoes Gasoline and oil
Other
Services
Housing
Household operation
Transportation
Other
p Preliminary.

_._

__

88.2
30.5
13.5
35.8

55.5
23.1
11.4
62.3

92.3
33.3
14.0
37.8

59.5
24.4
11.7
67.0

98.4
35.1
14.7
40.9

64.7
25.8
12.2
72.0

94.8
34.3
14.2
39.5

62.7
24.9
11.9
70.0

97.3
35.0
14.7
40.8

64.0
25.5
12.1
71.4

65.3
26.3
12.3
72.7

CURRENT BUSINESS STATISTICS

JLHE STATISTICS here update series published in the 1965 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1961 through 1964 (1954-64 for major quarterly series), annually, 1939-64; for selected series,
monthly or quarterly, 1947-64 (where available). Series added or significantly revised after the 1965 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1964 issued too late for inclusion in the 1965 volume appear in the monthly
SURVEY beginning with the September 1965 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through
the courtesy of the compilers, and are subject to their copyrights.
1963
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS

1964 | 1965

1963
I

Annual total

II

1964

III

IV

I

II

1966

1965

III

IV

I

ii | in 1 iv

I*

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product, total

bil. $

589 2

628 7

676 3

577 0

583 1

593 1

603 6

614 0

624 2

634 8

641 1

657 6

668 8

681 5

697. 2

714.1

do_ _

373.8

398.9

428 7

368. 0

371.1

376.6

379.5

389.1

396.0

404.6

405.9

416.9

424. 5

432. 5

441.0

452.6

Durable goods, total 9
do
Automobiles and parts
do
Furniture and household equipment _ _ do_ _

53 4
24.3
21.9

58 7
25.8
24.7

65 0
30.0
26 0

52 2
23.6
21.4

52 6
23.9
21.4

54 1
24.6
22.1

54 9
24.9
22.7

57 4
25.5
23.9

59 1
25.7
25.1

60 5
27.1
25.0

57 9
24.8
24.8

64 6
30.3
25 5

63 5
29.3
25.4

65 4
30.3
26.0

66 4
30.1
27.3

68.8
31.5
28.0

- - - do
do
_
do _
do

168.0
30 5
88.2
13.5

177.5
33 3
92.3
14 0

189 0
35 1
98 4
14 7

166. 6
30 3
87.5
13 3

167.4
30 2
88.1
13 4

169.2
31 1
88.5
13 5

168.9
30 6
88.7
13 7

173.7
32 3
90.6
14 0

175.7
33 2
91.3
13 9

179.8
33 8
93.3
14 0

180.9
34 0
94.1
14 2

182.8
34 3
94.8
14 2

187.9
35 0
97 3
14 7

190.5
35 2
99.3
14 8

195.0
35. 9
102.2
15 0

201.1
37.5
105.0
15.6

do
do
do_ _
do

152 3
23.1
55.5
11.4

162.6
24.4
59.5
11.7

174 7
25 8
64.7
12 2

149 2
22.8
54.5
11.3

151 1
22.8
55.3
11.4

153 3
23.5
55.7
11.4

155 7
23 3
56.5
11.5

158 0
23 6
57.5
11 7

161 2
24.4
58.8
11 7

164 3
24 8
60.1
11.8

167 1
24 8
61.4
11 9

169 5
24 9
62.7
11.9

173 1
25.5
64.0
12.1

176 7
26.3
65.3
12.3

179. 6
26.6'
66.7
12.5

182.7
26.9
68.0
12.7

86.9

92.9

105.7

82.6

84.8

87.9

92.4

89.7

90.9

92.6

97.7

103.4

102.8

106. 2

110.3

111.8

81.2
54.3
19.7
34.6
26.9
26.3
5.7
4.9

88.1
60.5
21.1
39.4
27 5
27.0
4.8
5.4

97 4
69.8
24 3
45.5
27 6
27.1
8.2
7.9

78.1
52.1
19.0
33.1
26.0
25.4
4.5
3.8

80.1
53.4
19.2
34.2
26.7
26.1
4.7
4.2

82 1
55.1
20 0
35.1
26 9
26.4
5.8
5.2

84.3
56.5
20 5
36.0
27 9
27.3
8.1
6.9

86 5
58.1
20 7
37.5
28 4
27.8
3.3
3.6

86 8
58.9
21 1
37.9
27 9
27.3
4.1
5.1

88 8
61.6
21.1
40.5
27 2
26.6
3.8
4.6

90.2
63.5
21.5
42.0
26 7
26.2
7.5
7.8

94.6
66.9
23. 2
43.7
27.7
27.1
8.8
9.2

96.4
68.4
24. 5
43.9
28.0
27.5
6.4
6.6

98.6
70.9
24.2
46.7
27.7
27.1
7.6
7.0

100.2
73.0
25.4
47.6
27.2
26.7
10.1
8.9

103.5
75.4
26.7
48.7
28.1
27.5
8.3
7.6

5.9
32 4
26.4

8.6
37 0
28.5

7.1
39 0
31.9

4.5
30 0
25.6

6.2
32 4
26.2

5.7
32 6
26.9

7.3
34 4
27 1

8.8
36 3
27.5

7.7
36 0
28.2

8.8
37 3
28.5

8.9
38 4
29.5

6.0
34.7
28.6

8.0
40.4
32.4

7.4
40.1
32.7

6.9
40.8
33.9

6.1
41.1
35.0

Govt. purchases of goods and services, total. _do____
Federal
____ ,
do_ _
National defense
do
State and local
_ _ _do_

122.6
64.4
50.8
58.3

128.4
65.3
49.9
63.1

134.8
66.6
49.9
68.2

121.9
65.4
51.5
56.5

120.9
63.6
50.5
57.4

123.0
64.2
51 0
58.8

124.3
64.4
50 3
59.9

126.3
65.0
49.8
61.3

129.7
67.0
51.7
62.7

128. 7
64.9
49 5
63.8

128.6
64.3
48.8
64.3

131.3
64.9
48.8
66.4

133.5
65.7
49.2
67.8

135.4
66.5
49.8
68.9

139. 0
69.2
52.0
69.8

143.6
72.5
55.0
71.1

By major type of product:
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures

do
do
do
do
do
do

583.5
291 1
113 1
178.1
226 9
65.5

623.9
311 3
122 8 '
188.4
244 0
68.6

668.1
333. 4
133 5
199.9
261 0
73.7

572.5
287.2
109 8
177.4
222 1
63.2

578.4
289.2
112 0
177.2
225 1
64.1

587.3
292 9
114 3
178.6
228 2
66.2

595 5
295 3
116 2
179 1
232 1
68 0

610 7
304 9
120 1
184 9
237 3
68.5

620.1
308 3
121 6
186 8
242 8
69 0

631 0
316.0
125 4
190.6
246 4
68.6

633 6
315 8
124 3
191 5
249 7
68.1

648:8
322.8
130 1
192.8
253 8
72.1

662.4
329.1
130 3
198.7
259 0
74.2

673.9
337. 1
135.4
201.7
263.0
73.9

687.1
344.6
138. 0
206.5
268.0
74.5

do
do
do

5.7
2.8
29

S. 2
6.1
2.1

4.5
2.0
25

4.7
3.4
1.4

5.8
2.3
35

8.1
38
43

3.3
2.2
1i

4.1
3.5
6

3.8
2.7
1i

7.5
4.4
31

8.8
7.1
1.6

6.4
6.2
.2

7.6
6.5
1.0

10.1
4.4
5.7

Personal consumption expenditures, total

Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil

_ :

Services, total 9
Household operation. _ _ _ _ _
Housing
Transportation
_
Gross private domestic investment, total
Fixed investment _ _ _ _ _ _ _
Nonresidential___
Structures
Producers' durable equipment
Residential structures
Nonfarm___ _
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

4.8
3.3
15

GNP in constant (1958) dollars
bil $

Gross national product, total
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services. __ _

_ _ _

550.0

577.6

609. 6

541.2

544.9

553.7

560 0

567 1

575.9

582.6

584.7

597.7

603.5

613.0

624.4

do

352.4

372.1

394.2

348.3

350.0

355.1

356 4

364 5

369 8

377.3

376. 8

386.1

390.5

396.9

403.3

do
do
do

53.2
161 8
137.3

58. 5
169 4
144.2

65.6
177.1
151.5

52.0
161.0
135.3

52.3
161.2
136.5

54.1
163 0
138.0

54.7
162 1
139.6

57.0
166 4
141.1

58.7
167 8
143.3

60.2
171 6
145.5

57.9
171.8
147.1

64.5
173.2
148. 4

63.4
176.4
150.7

66.4
177.8
152.7

67.9
181.0
154.4

82.3

86.3

96.8

78.7

80.5

83.0

86.9

83.8

85.2

86.0

90.2

95.4

94.2

96.9

100.5

76.6
51.9
24.7
57

81.7
57.1
24.6
46

88.8
65.0
23.9
79

74.2
50.0
24.2
44

75.8
51.2
24.6
46

77.2
52.6
24.6
58

79.0
53 7
25.3
79

80.7
55 1
25.7
30

80.7
55 7
25. 0
45

82.2
58 1
24.1
38

83. 1
59.6
23.6
71

86.8
62.5
24.3
86

88.1
63.7
24.4
62

89.7
66.0
23.7
72

90.7
67.6
23.1
9.8

71

90

81

87

83

51

66

62

62

109 6
109 9
112 8
110 5
58.2
57.1
58.7
59.9
51.7
53.4
50.8
52.9
9 Includes data not shown separately.

109 4
56. 1
53.3

111 2
56.4
54.8

112 1
56.8
55.3

113 0
57.0
56.0

114 3
58.2
56.2

Gross private domestic investment, total___ .do. _
Fixed in vestment __ _ _
_
Nonresidential
Residential structures
Change in business inventories

do
do
do
do

Net exports of goods and services

do

Govt purchases of goods and services total do
Federal
'
"do""""
State and local
____,
do. .
r
Revised.
*> Preliminary.
211-303 O-66—3




56

85

60

4 0

58

55

109 8
59.7
50.0

110 7
57.8
52.8

112 7
57.1
55.6

110 3
61.3
49.1

108 7
59.2
49.5

110 0
59.7
50.3

S-l

633.8

S-2

SUEVEY OF CURRENT BUSINESS

Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS

1963

1964
Annual total

1965

1964

1963
II

III

April i960

IV

I

II

1965
III

IV

II

I

1966
III

IV

I

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, total
bil. $
554. 7
481.1 514.4
484 6
476 7
Compensation of employees, total
do
341.0
365 3
391.9 338 0' 343 0
Wages and salaries, total _ _ _ _
do
311.2
333 5
357.4
312 9
308 4
269.2
Private _
do
251.6
253 2
288.5
249 4
Military
do
12.4
11 7
10 8
10 7
10 6
Government civilian
_ do
52.6
56.5
48.8
49 1
48 4
Supplements to wages and salaries
do
29.8
31.8
34.5
30.1
29.6
Proprietors' income, total 9
do
51 1
50 8
54 5
50 9
50 5
Business and professional 9
_ do
37 8
39.1
40.3
37 9
37 6
Farm
do
12 0
14 3
13 0
13 0
12 9
Rental income of persons
__
do_
18.6
17 6
18 2
17 7
17 4
Corporate profits and inventory valuation adjustment, total
bil. $
73.1
64 5
59 1
58 1
57 6
By broad industry groups:
Financial institutions
do
8.9
80
75
75
75
Nonfinancial corporations total
do
64 2
56 5
51 6
50 6
50 1
r
Manufacturing, total
do
32 1
37 5
29 5
28 7
28 7
Nondurable goods industries
do
r 16 g
13 2
14 9
13 4
13 4
Durable goods industries
do
20.7
17 2
16 1
15 4
15 4
Transportation, communication, and public
utilities
bil. $
10.8
10 0
92
95
91
r
15.9
All other industries
do
14 3
12 7
12 6
12 2
74 7
Corporate profits before tax total
do
64 8
58 9
58 6
58 5
Corporate profits tax liability
do
27 6
30 1
26 1
26 0
26 0
32 6
44.5
Corporate profits after tax
do
37 2
32 8
32 6
Dividends
do
17 2
18 9
15 8
15 7
15 8
Undistributed profits
do
19 9
25 6
17 0
16 8
16 8
2
Inventory valuation adjustment
do
—1.6
— 4
— 3
— 9
13.2
13.9
Net interest
do
15 2
16.5
13.6
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Bates
530.7
495 0
Personal income total
bil $
464 8
460 1 467 1
65.4
Less: Personal tax and nontax payments
do
59 2
60.6
61.0
60 9
465.3
406 1
Equals' Disposable personal income
do
435 8
399 4
403 8
386.3
440.5
Less: Personal outlays©
do
409.5
380 5
383 4
Equals: Personal saving§._
do
24.9
20.4
26.3
18.9
19.8
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil $
39 22
44 90
51 96
9 74
10 14
Manufacturing
do _
3.92
3.95
22.45
18.58
15. 69
9.43
1.96
1.96
Durable goods industries
do
7.85
11.40
1.95
11.05
1.99
Nondurable goods industries
_
do
7.84
9.16
Mining
do__
.26
.27
1.04
1.19
1.30
1.41
.29
Railroad
_
do
.28
1.10
1.73
.54
.45
Transportation, other than rail
__do_
1.92
2.38
2.81
6.22
1.60
1.40
Public utilities
do
5.65
6.94
.95
.93
Communication
do
4.30
3 79
4 94
2.41
2.64
10.83
Commercial and other
do
10.03
11.79
Seas. adj. qtrly. totals at annual rates:
38.05
40.00
All industries.
do
Manufacturing
do
15.30
15.95
7.65
8.00
Durable goods industries
do
7.65
8.00
Nondurable goods industries
do
Mining
do
1.00
1:05
1.00
1.20
Railroad
do
2.05
1.85
Transportation, other than rail
do
5.90
5.45
Public utilities
do
3.85
3 65
Communication
do
9.65
10.20
Commercial and other
do
U.S. BALANCE OF INTERNATIONAL
1
PAYMENTS^
Quarterly Data Are Seasonally Adjusted
U.S. payments, recorded
mil $
34 932 39 150 38, 652
Imports:
Merchandise
do
21 492
16 992 18 619
Military expenditures
do
2 929 2*824
2 838
7 650
Other services
do
6 515 7 014
Remittances and pensions
do
*839
978
837
Govt grants and capital outflows f
do
3 390
3 581 3 563
Increase in U.S. private assets, net
do
6 462
3 526
4 456
Direct investments
do
3 266
1 976 2 376
Long-term portfolio
do
988
1 695 1*975
Short-term
do
'785 2 111
—728
Increase in U S official reserve assets net do
—171
1 222
378
U.S. receipts, recorded
do
35 333 40 311 39 311
Exports:
Merchandise and military sales
do
22 728 26 050
27 100
Income on investments
do
5 457
4*654
6*054
Other services
do
4 971
5 510
5 906
Increase in foreign assets in U S
do
2 980 3*294
251
Liquid assets: Foreign official agencies! do
1*599
1 073
50
Other foreign accounts
do
1 554
619
129
Other liquid assets
do
762
172
*667
Unrecorded transactions (net)
do
—401 —1 161
659
Increase in U.S. official reserve assets and decrease
1 on-i
9 fi7ft 9 70S
in liquid liabilities to all foreigners
mil $
Increase in U.S. official reserve assets and decrease
in liquid and certain nonliquid liabilities to
foreign official agencies
mil $
—1 Q77 e_1 349 c_1 9QQ
r
Revised.
* Preliminary.
1 Estimates for Jan.-Mar. 1966 based on anticipated capital expenditures of business.
2 Estimates for Apr .-June. 1966 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1966 are as follows (in bil. $): All industries, 60.23; manufacturing, total, 26.75; durable goods industries, 13.50; nondurable goods industries, 13.25;
mining, 1.51; railrcad, 1.83; transportation, 3.15; public utilities, 8.04; commercial and other
(mcl. communication), 18.95.
s includes communication. . <= Corrected.




492 6
349 5
318 8
257.4
11 6
49 9
30.7
51 0
38 0
13 0
18 0

501 6
355 1
324 2
261.6
11 6
51.0
30.8
50 4
38 5
11 9
17 9

510 5
361 9
330 4
266.9
11 6
51.9
31.5
51 0
39.0
12 0
18 1

519 5
369.0
336.8
271.7
11.7
53.3
32.2
51.4
39.4
12.0
18.3

526.3
375.4
342.6
276.5
11.9
54.3
32.7
51.8
39.6
12 2
18.5

540. 6
382.4
348.9
282.0
11.8
55.0
33.5
51.9
39.9
12.0
18.5

549.5
387.9
353.6
285.9
11.8
55.9
34.3
54.6
40.1
14.5
18.6

557. 9
393.7
359.0
290.0
12.3
56.7
34.7
55.4
40.4
15.0
18.6

570 8
403.6
368. 1
296.1
13.7
58.3
35.5
56.2
40.7
15.5
18.7

59 6

63 6

64.5

65.5

64 9

71.7

72.0

73.5

75 2

8.4

8.5

8.3

8.9

9.2

74
52 2
29 7
13 5
16 1

75
56 2
31 9
14 4
17 5

78
56 7
32 1
15 0
17 1

94
13 1
60 8
27 0
33 8
16.1
17 7
—1.2
14.5

99
14.5
64 0
27 3
36 7
16.7
20 0
—.4
14.5

475 6
61.6
414 0
389.5
24.4

416.2
377.0
303.1
14.4
59.5
39.2
56.9
41.0
15.9
18.8

9.3

57.0
32.5
15.0
17.5

56 4
32 3
15 3
17 1

63.4
37.3
16.6
20.8

63.2
36.7
16.6
20.1

64.3
37.3
16.6
20.7

65 9
38.8
17 4
21.3

10 1
14 5
64 5
27 5
37 0
17.1
19 9
.0
15.0

10. 2
14.4
65.3
27.8
37.5
17.4
20.1

10.5
15.5
73.1
29.5
43.6
18.0
25.7
-1.4
16.1

10.5
16.0
73.9
29.8
44.1
18.6
25.5
-1.8
16.4

11.0
16.0
74.6
30.1
44.5
19.2
25.3
-1.2
16.7

10.9
16.2
77 o
31.1

15.4

10 1
14.0
65 9
28 1
37.8
17.7
20.0
-1.0
15.7

19.9
26.0
-1.8
17.1

-2.8
17.6

483.0
60.4
422.6
399.3
23.3

490 6
56.9
433 6
406.3
27.3

499.1
58.8
440.3
415.3
25.0

507. 1
60.7
446 4
416.9
29.5

516.2
64.8
451.4
428.1
23.3

524.7
66.2
458.5
436.1
22.4

536.0
64.8
471.2
444.4
26.8

546. 0
65. 7
480.3
453.2
27.1

556.9
68.1
488.7
465.1
23.6

11.09
4.56
2.31
2.25
.28
.33
.54
1.61
1.06
2.72

9.40
3.79
1.93
1.87
.26
.32
.51
1.18
.97
2.37

11.11
4.53
2.30
2.23
.29
.36
.63
1.58
1.10
2.61

11.54
4.67
2.37
2.30

12.84
5.59
2.83
2.76

10.79
4.54
2.25
2. 28

12.81
5.47
2.76
2.70

13.41
5. 73
2.91
2.82

14.95
6.72
3.48
3.24

2 15. 01
6.56
3.29
3.27

1.71
1.06
2.84

1.76
1.17
3.01

1.32
1.08
2.59

1.71
1.24
2.85

1.88
1.22
3.10

2.04
1.41
3.25

112.64
5.52
2.78
2.73
.34
.37
.76
1.47
3 4. 19

34.64

41.20
16.45
8.30
8.15
1.05
1.35
2.10
5.80
4.05
10.45

42.55
17.40
8.85
8.55
1.15
1.40
2.30
5.95
4.05
10.25

43.50
17.80
9.00
8.80
1.15
1.25
2.25
6.30
4.30
10.45

45. 65
18.85
9.60
9.20
1.20
1.50
2.40
6.30
4.40
11.00

47.75
20. 15
10.15
10.00
1.30
1.55
2.60
6.35
4.40
11.40

49.00
20.75
10.40
10.40
1.25
1.75
2.55
6.80
4.55
11.30

50.35
21. 55
10.80
10.70
1.30
1.55
2.70
6.85
4.80
11.60

52.75
23.00
11.75
11.25
1.25
1.70
3.00
6.75
5.05
11.95

55.35
24.15
12.45
11.70
1.35
1.95
3.00
7.30
5.30
12.25

9,218

9,195

9,737

11,000

8,851

9,604

9,951

10, 246

4 410
732
1 736
209
753
1,327
464
274
589
51
9,506

4,709
4 599
691
720
1 742 1,736
207
203
895
890
1 344 1,569
551
540
612
256
406
548
—70
—303
9,347 10, 028

4,901

11, 430

4,663
662
1,830
224
775
1,539
1,159
679
-299
-842
8,861

5,480
702
1,924
292
959
315
891
-159
-417
-68
9,685

5,594
720
1,905
229
725
819
515
357
-53
-41
10, 267

5,755
754
1, 991
233
931
853
701
111
41
—271
10,498

6,343
6 258 6,550
1,396
1 395 1,392
1 345 1 338 1,393
693
422
356
—116
237
48
639
71
231
170
114
77
-291
-288
—152

6,899
1274
1,434
1,823
904
613
306
—430

5, 801
1,555
1,355

150
—255
71
334
—10

7,029
1,648
1,467
-459
—300
-26
—133
—81

7,028
1,505
1, 505

7,242
1,346
1,579
331
768
—655
218
—252

658

258

517

c— 5fi4

"247

.2

.30
.37
.59

257

582

593

e-152

c— 374

"28

.33
.35
.64

681

1,800

220

1 025
2,222

821
833
568
151

1 366

c-844

.29
.39
.58

.33
.44
\77

.32
.44
.72

229

-263

739
—247
-316

45:9

.35
.46
.73

20.6

.40
.51
.90

2.00

157.20 258.90
25.15
25.80
12.80
12.90
12.90
12.35
1.45
1.55
1.65
1.80
3.30
3.20
7.65
7.95
318.05 318.65

—384

«244 '-1.226

9 Includes inventory valuation adjustment.
©Personal outlays comprise personal consumption expenditures, interest paid by consumers, and personal transfer payments to foreigners.
§Personal saving is excess of disposable income over personal outlays.
cTMore complete details are given in the quarterly reviews in the Mar., June, Sept., and
Dec. issues of the SURVEY.
f Less payment on U.S. Govt. loans.
t Includes certain nonmarketable, medium-term, nonconvertible Govt. securities.

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