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SURVEY OF CUEEENT BUSINESS

8

August 1966

NATIONAL INCOME AND PRODUCT TABLES
1965
1963

1964

1965

I

II

1965

1966

III

IV

I

II

1963

1964

I

1965

Seasonally adjusted at annual rates

II

1966

III

IV

I

II

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1958 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross National Product.

590.5

631.7

681.2

660.8

672.9

686.5

704.4

721.2

732.3

551.0

580.0

614.4

600.3

607.8

618.2

631.2

640.5

643.5

Personal consumption expenditures _

375.0

401.4

431.5

418.9

426.8

435.0

445.2

455.6

460.1

353.3

373.8

396.2

387.1

392.2

398.9

406.5

412.8

412.2

53.9
168.6
152.4

59.4
178.9
163.1

66.1
190.6
174.8

65.1
184.5
169.3

64.4
189.4
173.0

66.7
191.4
176.9

68.0
197.0
180.2

70.3
201.9
183.4

67.1
205.6
187.4

53.7
162.2
137.4

59.1
170.5
144.2

66.4
178.2
151.6

64.8
174.2
148.1

64.2
177.6
150.4

67.2
178.5
153.1

69.2
182.5
154.8

72.2
184.1
156.5

68.5
185.8
157.9

87.1

93.0

106.6

103.8

103.7

106.7

111.9

114.5

118.5

82.5

86.5

97.8

95.9

95.3

97.9

102.2

103.5

106.3

81.3
54.3
19.5
34.8
27.0
26.4

88.3
60.7
21.0
39.7
27.6
27.0

97.5
69.7
24.9
44.8
27.8
27.2

94.4
66.7
23.6
43.1
27.7
27.2

96.0
67.9
24.6
43.3
28.1
27.5

98.0
70.2
24.4
45.8
27.8
27.3

101.5
73.9
26.8
47.1
27.6
27.0

105.6
77.0
28.5
48.5
28.6
28.0

106.2
78.2
27.9
50.3
28.0
27.4

76.7
51.9
17.9
34.0
24.8
24.2

81.9
57.4
18.9
38.5
24.6
24.0

89.0
64.9
21.7
43.2
24.1
23.6

86.6
62.3
20.7
41.5
24.4
23.8

88.0
63.4
21.7
41.7
24.5
24.0

89.4
65.5
21.3
44.2
23.9
23.4
.5

91.9
68.4
23.2
45.2
23.5
23.0

95.0
70.8
24.3
46.4
24.3
23.8

94.7
71.3
23.6
47.7
23.4
22.9

Durable goods
Nondurable goods..
Services
Gross private domestic investment..
Fixed investment
Nonresidential
Structures
Producers' durable equipment..
Residential structures
Nonfarm
Farm
Change in business inventories
Nonfarm
Farm.

2

.5
5.8
5.1
.8

7.0

6.4

8.2

7.1

6.1

6.0

4.7

5.6

32.3
26.4

8.5
37.0
28.5

39.0
32.0

35.1
28.7

40.5
32.3

40.1
33.0

40.3
34.2

41.7
35.6

41.9
37.3

Government purchases of goods and services.
Federal
National defense
Other
State and local

122.5
64.2
50.8
13.5
58.2

128.9
65.2
50.0
15.2
63.7

136.2
66.8
50.1
16.7
69.4

131.6
64.4
48.2
16.2
67.3

134.3
65.6
49.1
16.5
68.7

137.7
67.5
50.7
16.8
70.2

141.2
69.8
52.5
17.3
71.4

145.0
71.9
54.6
17.4
73.1

149.0
74.0
57.1
16.9
75.0

Addendum: Implicit price deflator for seasonally
dajusted GNP, 1958=100

107.2

108.9

110.9

110.1

110.7

111.0

111.6

112.6

5.9

.6
4.7
5.3
—.6

.6
9.1
8.1
.9

.6
9.5
9.4
.0

.6
7.6
6.7
.9

.5
8.7
7.2
1.5

10.4
9.0
1.4

.5

.5
8.9
8.5
f
>

.6

12.3
12.1

.5
4.6
5.2
—.6

.5
8.8
8.0
.9

.5
9.3
9.3

.5
7.3
6.5

10.2

.5

.5
8.5
8.0
.4

.5

113.8

Net exports of goods and services.
Exports
Imports

.6
5.9
5.1
.8

8.5
7.1

11.6
11.4

.0

.8

1.4

8.9
1.3

7.1
38.7
31.6

6.4

6.0

5.9

4.6

37.3
31.0

5.7
33.4
27.7

38.4
31.9

38.7
32.8

40.1
34.2

40.3
35.8

111.3
57.8

114.1
57.8

111.5
56.2

113.2
57.3

115.0
58.3

116.6
59.3

118.3
60.4

120.4
61.9

53.4

56.3

ft>.3

55.9

56.7

57.3

57.9

58.5

32.1
26.6

8.5
36.4
28.0

109.6
59.5
50.1

6.3

2

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
590.5

631.7

681.2

660.8

672.9

686.5

704.4

721.2

732.3

551.0

580.0

614.4

600.3

607.8

618.2

631.2

640.5

643.5

584.6
5.9

627.0
4.7

672.1
9.1

651.4
9.5

665.3
7.6

677.8
8.7

694.0
10.4

712.3
8.9

720.0
12.3

545.2
5.8

575.4
4.6

605.6
8.8

591.0
9.3

600.5
7.3

609.7
8.5

621.0
10.2

632.0
8.5

631.9
11.6

298.6

318.2

344.7

333.8

338.8

347.5

358.8

366.0

371.6

289.7

307.2

328.5

319.7

322.5

330.9

341.0

344.7

346.7

292.7
5.9

335.7
9.1

324.3
9.5

331.2
7.6

357.0
8.9

359.3
12.3

283.9
5.8

302.6
4.6

315.2
7.3

336.2
8.5

335.1
11.6

135.2
128.8
6.4

142.6
137.9
4.7

147.6
141.8
5.8

149.6
140.6
9.0

114.2
111.4
2.8

123.1
119.9
3.2

131.8
124.6
7.2

131.7
125.5
6.2

322.4
8.5
138.3
131.8
6.5

330.7
10.2

135.1
127.7
7.4

319.7
8.8
135.5
129.4
6.1

310.3
9.3

138.5
132.2
6.3

338.8
8.7
141.0
134.3
6.7

348.4
10.4

116.1
113.3
2.8

313.6
4.7
125.5
122.2
3.3

140.3
135.7
4.7

145.4
139.9
5,5

146.0
137.6
8.4

182.5
179.4
3.1

192.7
191.3
1.4

206.3
203.5
2.7

198.7
196.6
2.1

203.6
202.4
1.2

206.5
204.4
2.1

216.2
210.5
5.7

218.4
215.2
3.1

222.0
218.7
3.3

175.6
172.5
3.1

184.1
182.7
1.4

193.0
190.3
2.7

187.8
185.7
2.1

190.8
189.6
1.1

192.6
190.6
2.0

200.6
195.1
5.6

199.4
196.3
3.0

200.8
197.6

226.2

244.5

262.0

254.3

259.8

265.1

268.8

275.5

282.1

200.9

211.2

221.1

216.6

220.3

223.3

224.0

227.7

Structures

65.7

68.9

74.5

72.7

74.3

73.9

76.9

79.8

78.6

60.4

61.7

64.8

64.0

65.0

64.0

66.2

68.0

Addendum: Gross auto product...

25.1

25.8

31.4

32.6

30.8

31.6

30.5

31.5

28.6

24.7

25.4

31.4

32.2

30.6

31.9

30.7

32.2

607.8

618.2

631.2

640.5

643.5

579.4

588.0

589.9

569.4
546.4
23.0
14.3
4.3
52.5

571.4
548.4
22.9
14.2
4.3

Gross National Product.
Final sales
Change in business inventories.
Goods output

.

..

Final sales
Change in business inventories.
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
Services

3.2
230.9
66.0
29.1

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross National Product.
Private
Business
Nonfarm
Farm
Households and institutions
Rest of the world
General government




590.5

631.7

681.2

660.8

672.9

686.5

704.4

721.2

732.3

551.0

580.0

614.4

600.3

532.4

568.7

613.4

595.2

606.4

618.2

633.8

648.4

657.6

503.2

530.8

563.5

550.2

557.3

567.2

513.0
491.5
21.5
16.0
3.4

547.4
527.0
20.4
17.3
4.0

590.8
567.1
23.8
18.3
4.3

573.0
551.6
21.4
17.5
4.7

583.6
559.4
24.2
18.0
4.8

595.3
570.6
24.7
18.7
4.1

611.2
586.6
24.7
19.1
3.4

624.9
599.3
25.7
19.1
4.4

634.0
609.0
25.0
19.1
4.4

486.6
463.8
22.8
13.2
3.4

513.3
491.2
22.0
13.6
3.9

545.4
521.7
23.8
14.0
4.1

532.2
509.4
22.8
13.4
4.6

515.1
23.8
13.7
4.6

548.9
524.6
24.3
14.2
4.0

561.6
537.5
24.1
14.5
3.3

58.1

63.0

67.8

65.6

66.6

68.3

70.6

72.8

74.7

47.8

49.2

50.9

50.1

50.5

51.1

51.8

53.6

CURRENT BUSINESS STATISTICS

JLHE STATISTICS here update series published in the 1965 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
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.
OF CURRENT BUSINESS.

1963 | 1964
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS

II

Annual total

1964

1963

1965

| III

IV

1966

1965

i | n

I
II
IV
III
III
Seasonally adjusted quarterly totals at annual rates

| IV

I

II

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf

.

bil.!

590.5

631.7

681.2

584.2

594.7

605.8

616.8

627.7

637.9

644.2

660.8

672.9

686.5

704.4

721.2

'732.3

do_.

375.0

401.4

431.5

372.0

378.3

381.5

391.1

398.0

407.5

408.8

418.9

426.8

435.0

445.2

455.6

' 460.1

Durable goods, total9—
•-.-—.
Automobiles and parts..
Furniture and household equipment

do.
_do
do.

53.9
24.3
22.2

59.4
25.8
25.1

66.1
29.8
27.1

53.2
24.1
21.7

54.5
24.4
22.5

55.6
24.9
23.1

57.6
25.3
24.1

59.8
26.0
25.4

61.1
27.1
25.3

58.9
24.6
25.7

65.1
30.1
26.0

64.4
29.2
26.2

66.7
30.2
27.3

68.0
29.9
28.8

70.3
31.4
29.6

'67.1
'28.5
' 29. 2

Nondurable goods, total 9
Clothing and shoes
Food and beverages

do
do.
do.

168.6
30.6
88.2
13.5

178.9
33.6
92.8
14.1

190.6
35.9
98.4
15.1

168.0
30.3
88.3
13.3

169.9
31.4
88.3
13.5

169.6
30.7
88.6
13.7

174.9
32.8
90.7
13.9

176.5
32.7
92.1
13.9

181.7
34.3
93.9
14.2

182.4
34.4
94.4
14.4

184.5
34.6
95.4
14.4

189.4
35.6
97.8
15.2

191.4
36.0
98.7
15.3

197.0
37.5
101.6
15.7

201.9
39.4
103.3
15.8

' 205. 6
'39.7
' 104.8
'16.1

do_.
do_.
do_.
do_.

152.4
23.1
55.4
11.4

163.1
24.3
59.2
11.8

174.8
25.6
63.2
12.8

150.8
22.7
55.0
11.4

153.9
23.5
55.8
11.5

156.3
23.3
56.8
11.6

158.7
23.8
57.7
11.7

161.6
24.2
58.7
11.7

164.7
24.7
59.6
11.9

167.5
24.7
60.7
12.1

169.3
24.7
61.6
12.2

173.0
25.4
62.7
12.7

176.9
26.0
63.6
13.0

180.2
26.3
64.7
13.4

183.4
26.5
66.0
13.5

187.4
'27.1
67.1
13.9

do

87.1

93.0

106.6

85.1

88.0

92.9

90.2

91.8

92.5

97.4

103.8

103.7

106.7

111.9

114.5

• 118. 5

do
do
_do
._.do
do
do
do
do

81.3
54.3
19.5
34.8
27.0
26.4
5.9
5.1

88.3
60.7
21.0
39.7
27.6
27.0
4.7
5.3

97.5
69.7
24.9
44.8
27.8
27.2
9.1
8.1

80.3
53.5
19.7
33.8
26.8
26.2
4.8
4.3

82.0
55.0
19.4
35.5
27.1
26.5
6.0
5.3

84.7
56.8
19.9
36.8
28.0
27.4
8.1
7.0

86.6
58.1
20.3
37.9
28.5
27.9
3.5
3.6

87.6
59.7
20.9
38.8
27.9
27.3
4.2
5.1

88.9
61.7
21.0
40.7
27.2
26.6
3.6
4.6

90.0
63.3
21.8
41.4
26.7
26.2
7.4
7.9

94.4
66.7
23.6
43.1
27.7
27.2
9.5
9.4

96.0
67.9
24.6
43.3
28.1
27.5
7.6
6.7

98.0
70.2
24.4
45.8
27.8
27.3
8.7
7.2

101.5
73.9
26.8
47.1
27.6
27.0
10.4
9.0

105.6
77.0
28.5
48.5
28.6
28.0
8.9
8.5

r

____do_.
do_.
do_.

5.9
32.3
26.4

8.5
37.0
28.5

7.0
39.0
32.0

6.2
32.4
26.2

5.6
32.5
26.9

7.1
34.3
27.1

9.0
36.4
27.4

7.9
36.0
28.1

8.4
37.2
28.8

8.6
38.1
29.6

6.4
35.1
28.7

8.2
40.5
32.3

7.1
40.1
33.0

6.1
40.3
34.2

6.0
41.7
35.6

'4.7
'41.9
'37.3

Govt. purchases of goods and services, total..do__._
Federal
___do
National defense
___do
State and local
do

122.5
64.2
50.8
58.2

128.9
65.2
50.0
63.7

136.2
66.8
50.1
69.4

120.9
63.4
50.5
57.5

122.9
64.2
51.0
58.7

124.3
64.4
50.3
59.8

126.5
64.9
50.1
61.6

130.1
66.6
51.6
63.4

129.5
65.1
49.8
64.4

129.4
64.1
48.5
65.3

131.6
64.4
48.2
67.3

134.3
65.6
49.1
68.7

137.7
67.5
50.7
70.2

141.2
69.8
52.5
71.4

145.0
71.9
54.6
73.1

' 149.0
'74.0
'57.1
'75.0

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

584.6
292. 7.
113.3
179.4
226.2
65.7

627.0
313.6
122.2
191.3
244.5
68.9

672.1
335.7
132.2
203.5
262.0
74.5

579.4
290.1
111.8
178.3
223.8
65.5

588.8
294.7
114.7
180.1
228.1
65.9

597.7
298.1
117.3
180.8
232.2
67.4

613.3
307.1
119.6
187.5
237.3
68.8

623.5
311.4
122.4
189.0
242.7
69.4

634.4
318.8
125.0
193.8
247.1
68.5

636.8
316.9
122.0
195.0
251.1

651.4
324.3
127.7
196.6
254.3
72.7

665.3
331.2
128.8
202.4
259.8
74.3

677.8
338.8
134.3
204.4
265.1
73.9

694.0
348.4
137.9
210.5
268.8
76.9

712.3
357.0
141.8
215.2
275.5
79.8

720.0
359.3
140.6
218.7
282.1
78.6

5.9
2.8
3.1

4.7
3.3
1.4

9.1
6.3
2.7

4.8
3.2
1.6

6.0
2.3
3.7

8.1
3.8
4.4

3.5
2.3
1.2

4.2
3.6
.5

3.6
2.8

7.4
4.4
2.9

9.5
7.4
2.1

7.6
6.4
1.2

8.7
6.7
2.1

10.4
4.7
5.7

8.9
5.8
3.1

'12.3
9.0
3.3

bil. $.

551.0

580.0

614.4

546.0

554.7

562.1

569.7

578.1

585.0

587.2

600.3

607.8

618.2

631.2

640.5

Personal consumption expenditures, total___.do____

353.3

373.8

396.2

350.9

356.1

357.7

365.7

371.0

379.5

378.9

387.1

392.2

406.5

412.8

412.2
68.5
185.8
157.9

Personal consumption expenditures, total

Gasoline and oil

-

__•

Services, total 9
Household operation
Housing
Transportation

___.do_

-

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
_

.

do_.
do..
_____do_.
do..
do..
do_.

C hange in business inventories
Durable goods
Nondurable goods...
_

do
do
_._do

106,2
'78.2
' 27/9
50.3
'28.0
'27.4
'12.3
'12.1

GNP in constant (1958) dollars
Gross national product, total t

Durable goods._.
Nondurable goods
Services

__do
..do
do__._

53.7
162.2
137.4

59.1
170.5
144.2

66.4
178.2
151.6

do..

82.5

86.5

97.8

Fixed investment...,
:_
Nonresidential
Residential structures.
Change in business inventories

do
do
do
do

76.7
51.9
24.8
5.8

81.9
57.4
24.6
4.6

89.0
64.9
24.1
8.8

Net exports of goods and services

..do

5.6

8.5

6.3

Gross private domestic investment, total

54.4
163.3
138.4

55.3
162.4
140.0

57.2
167.2
141. 2

59.5
168.4
143.1

60.9
173.3
145.3

58.8
173.1
146.9

64.8
174.2
148.1

64.2
177.6
150.4

67.2
178.5
153.1

69.2
182.5
154.8

83.1

87.7

84.6

85.6

85.7

90.2

95.9

95.3

97.9

102,2

103.5

106.3

75.9
51.1
24.7
4.8

77.2
52.5
24.7
5.9

79.7
54.3
25.4
8.1

81.2
55.5
25.7
3.5

81.6
56.6
24.9
4.0

82.2
58.2
24.1
3.5

82.8
59.2
23.6
7.4

86.6
62.3
24.4
9.3

88.0
63.4
24.5
7.3

89.4
65.5
23.9
8.5

91.9
68.4
.23.5
10.2

95.0
70.8
24.3
8.5

94. 7
71.3
23.4
11.6

5.7

5.5

7.1

9.2

8.2

8.4

8.0

5.7

7.1

6.4

6.0

5.9

4.6

53.0
161.7
136.2

109.5
110.3
113.3
111.5
113.2
110.1
115.0
111.3
59.7
56.2
57.3
58.7
58.2
56.1
58.3
57.4
53.6
55.3
55.9
53.9
54.0
56.7
50.9
52.0
revisions prior to M a y 1965 for personal income appear on p . 18 ff.
the SURVEY.
9 Includes data not shown separately.

120.4
118.3
116.6
61.9
60.4
59.3
58.5
57,9
57.3
of the July 1966 issue of

s-1




643.5

72.2
184.1
156.5

Govt. purchases of goods and services, total .do. ._ 109.6
114.1
111.3
108.7
110.0
Federal
_ _ do
59.5
59.0
59.6
57.8
57.8
State and local
_.do
49.7
50.4
50.1
53.4
56.3
'Revised.
v Preliminary.
f Revised series. Estimates of national income and product and personal income have been revised (see p . 11 ff. of the July 1966 issue of the SURVEY);

225-221 O - 66 - 4.

P

U F <UUK1

S-2
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS

1963

|

1964

| 1965

1964

1963

III

Annual total

August 1966

IV

I

II

1965

in

IV

I

II

1966

III

IV

I

II

ill

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT—Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, totalf
_
bil. $.Compensation of employees, total
_do
Wages and salaries, total.-.
do
Private
_
.do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income, total 9
do
Business and professional 9
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
_
—
- b i l . $._
By broad industry groups:
Financial institutions
do
Nonfinancial corporations, total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries..
.do
Transportation, communication, and public
utilities
bil. $..
All other industries
do
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_

481.9
341.0
311.1
251.6
10.8
48.6
29.9
51.0
37.9
13.1
17.1

517.3
365.7
333.6
269.3
11.7
52.6
32.0
51.9
39.9
12.0
17.7

559. 0
392.9
358.4
289.1
12.1
57.1
34.5
55.7
40.7
15.1
18.3

485.7
343.1
313.0
253.4
10.7
48.9
30.1
51.1
38.1
13.0
17.1

493.9
349.2
318.5
257.1
11.6
49.8
30.8
51.4
38.5
12.9
17.2

504.0
355.3
324.4
261.8
11.6
51.0
31.0
51.3
39.1
12.2
17.4

513.7
362.2
330.6
267.1
11.6
51.9
31.7
52.2
39.9
12.2
17.6

522.9
369.8
337.4
272.3
11.7
53.4
32.4
51.9
40.3
11.7
17.8

58.9

66.6

74.2

60.3

61.4

65.3

66.5

7.8
51.2
28.8
13.0
15.8

8.4
58.2
32.4
14.5
17.9

7.7

7.9

8.0

8.5

65.3
37.8
15.7
22.1

52.6
29.9
13.3
16.6

53.5
30.2
13.4
16.8

57.3
32.1
14.1
18.1

58.1
32.4
14.6
17.7

59.3
33.0
14.6
18.4

9.5
12.9
59.4
26.3
33.1
16.5
16.6
-.5
13.8

10.4
15.4
67.0
28.4
38.7
17.3
21.3
-.4
15.5

11.1
16.4
75.7
31.2
44.5
19.2
25.3
-1.5
17.8

9.8

9.8

12.8
60.1
26.6
33.5
16.6
16.9

13.5
62.7
27.8
34.9
16.8
18.1
-1.3
14.7

10.1
15.0
65.8
27.9
38.0
17.1
20.9

10.2
15.5
66.8
28.3
38.5
17.3
21.3

10.6
15.7
67.8
28.7
39.1
17.4
21.7

14.7

15.1

15.7

484.0
60.7
423.4
401.4
22.0

492.0
56.9
435.1
408.5
26.6

9.40
3.79
1.93
1.87

1.18

.2

14.2

528.5
375.3
342.2
275.9
11.9
54.3
33.1
52.2
40.3
11.9
17.9

543.3
381.7
348.2
281.2
11.8
55.2
33.5
53.3
40.5
12.9
18.1

552.2
387.8
353.7
285.8
11.7
56.3
34.1
55.9
40.4
15.5
18. 3

562.7
395.6
360.8
291.1
12.0
57.7
34.8
56.7
40.7
16.0
18.4

577.8
406.5
370.8
298.5
13.0
59.3
35.7
57.1
41.1
16.0
18.5

595.7
419.6
380.0
305.9
13.6
60.4
39.6
58.4
41.4
17.0
18.7

P604.3
'427.9
'387.4
'311.5
14.1
61.8
40.5
57.9
41.6
16.3
18.8

67.8

73.2

72. 7

74.0

76.9

80.0

P80.0

8.4

58.1
32.2
14.7
17.5

8.5
64.6
37.4
15.5
21.9

8.7
64.0
36. 7
15.5
21.2

8.9
65.0
37.4
15.5
21.9

9.5
67.5
39.6
16.4
23.2

9.4
70.6
41.9
17.2
24.7

10.5
15.5
67.7
28.6
39.0
17.7
21.4
-.9
16.3

10.7
16.5
74.5
30.7
43.8
18.1
25.7
-1.3
16.9

10.9
16.4
74.5
30.7
43.8
18.8
25.0
-1.8
17.5

11.2
16.4
75.0
30.9
44.1
19.5
24.6
-1.0
18.1

11.5
16.4
78.7
32.4
46.3
20.2
26.1
-1.8
18.7

11.3
17.4
82.7
34.1
48.7
20.9
27.8
-2.8
19.1

21.1
P27. 7
'—2.9
19.6

500.3
59.1
441.2
418.4
22.8

507.5
60.9
446.6
420.0

518.0
64.9
453.2
430.3
22.8

527.6
66.6
461.0
438.6
22.4

541.9
65.7
476.2
447.1
29.0

552.8
66.7
486.1
457. 6
28.5

564.6
69.5
495.1
468.4
26.7

'573.5
73.6
'499.9
'473.3
'26.6

11.11
4.53
2.30
2.23

11.54
4.67
2.37
2.30

2.37

1.58
1.10
2.61

1.71
1. 06
2.84

12.84
5.59
2.83
2.76
.33
.35
.64
1.76
1.17
3.01

10. 79
4.54
2.25
2.28
.29
.39
.58
1.32
1.08
2.59

12.81
5.47
2.76
2. 70
.33
.44
.77
1.71
1.24
2.85

13.41
5.73
2.91
2.82
.32
.44
.72
1.88
1.22
3.10

14.95
6.72
3.48
3.24
.35
.46
.73
2.04
1.41
3.25

12.77 i 15.17
5.61
6.74
2.87
3.44
2.74
3.30
.33
.36
.40
.51
.75
.97
1.60
1.97
1.26
2.83 3 4.62

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

58.00 i 59.60
26.60
25.60
13.55
13.15
13.05
12.45
1.40
1.40
1.85
1.75
3.40
3.30
7.80
8.25
5.35
12.35 3 18.50

9,112
6,156

9,001
6,092

9,308
6,389

9,537
6,660
201
1,253
1,423

8,776 10,136 10, 016
6,798
5,625
229
199
200
1,616
1,470
1,561
1,493
1,521
1,390
-7,164 -8,087 - 8 , 2 4 5
-4,656 -5,481 - 5 , 5 9 5
-701
-664
-745
-404
-373
-411
-1,494
-1,471
-1,501
-662
-719

10,065
7,027
216
1,254
1,568
-8,540
-5,756
-771
-458
-1,555

P10,416
p 7,121
*>194
P 1,532
p 1, 569
p-8,908
p-6,003 P - 6 , 2 6 4
p-837

-.5

-.3

.0

P82.9
P34.2
P48.7

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
475.8
467.8
535.1
465.5
496.0
Personal income, total...
_
bil. $ „
66.0
60.9
59.4
60.9
61.7
Less: Personal tax and nontax payments
do.
469.1
436.6
406.9
414.1
404.6
Equals: Disposable personal income
..._do
443.4
388.1
391.6
412.1
384.7
Less: Personal outlays©.
__._do
25.7
24.5
18.8
22.5
19.9
Equals: Personal saving§
.do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
11.09
10.14
51.96
44.90
39.22
All industries
bil.
22.45
3.95
4.56
18.58
15.69
Manufacturing.
__do
11.40
9.43
7.85
1.96
2.31
Durable goods industries
do
11.05
1.99
2.25
9.16
7.84
Nondurable goods industries_..__
do
.28
.27
1.30
1.19
1.04
Mining
__do.
.33
.29
1.73
1.41
1.10
Railroad
do.___
.54
.45
2.81
2.38
1.92
Transportation, other than rail
do
6.94
6.22
5.65
1.61
1.60
Public utilities
_
__.____do___.
.93
4.94
4.30
3.79
1.06
Communication
_
_
do
11.79
10.83
10.03
2.72
2.64
Commercial and other
do
Seas. adj. qtrly. totals at annual rates:
41.20
40.00
All industries
_
do....
15.95
16.45
Manufacturing.
do
8.00
8.30
Durable goods industries
do
8.00
8.15
Nondurable goods industries.
.do....
1.05
1.05
Mining
do.__.
1.20
1.35
Railroad.
do....
1.85
2.10
Transportation, other than rail
do
5.90
5.80
Public utilities
do___.
3.85
4.05
Communication
_
._
do
10.20
10.45
Commercial and other___
do
U.S. BALANCE OF INTERNATIONAL
PAYMENTS^1
Quarterly Data Are Seasonally Adjusted
(Credits + ; debits - )
Exports of goods and services (excl. transfers under
8,564
8,135
military grants)
mil. $_„ 32,339
36,958
5,633
5,949
Merchandise, adjusted, excl. military
do____ 22,071
25,297 26,276
145
103
Military sales
.
_do____
657
747
844
1,148
1,183
Income on U.S. investments abroad
do_ 4,654
5,392 5,901
1,251
1,287
Other services
_
do
4,957
5,522
5,972
Imports of goods and services. _
do
-26,442 -28,468 -32,036 -6,728 -6,784
Merchandise, adjusted, excl. military
do_.__ -16,992 -18,621 -21,488 -4,344 -4,372
-719
-719
Military expenditures
.
do__._ -2,936 -2,834 -2,881
-322
-352
Income on foreign investments in the U.S._do
-1,271 -1,404 -1,646
Other services...
do___. -5,243 -5,609 -6,021 -1,343 -1,341
Unilateral transfers, net (excl. military grants);
-702
-727
transfers to foreigners ( - )
___________mil. $_. -2,784 -2,765 -2,794
Transactions in U.S. private assets, net; increase
-670 -1,106
(-)_
mil. $.. -4,456 -6,523
Transactions in U.S. Govt. assets, excl. official
-486
-94
reserve assets; increase ( - )
mil. $__ -1,664 -1,674 -1,575
Transactions in U.S. official reserve assets, net;
-5
227
increase ( - )
mil. $__
378
171 1,222
Transactions in foreign assets in the U.S., net (U.S.
358
109
liabilities); increase (+)
mil. $ _ 2,981
3,312
309
143
-27
Liquid assets
.
do____
2,292
2,627
133
215
136
Other assets
do
689
685
176
161
-252
Unrecorded transactions
do
-352 -1,011
-429
Balance on liquidity basis—increase in U.S. official
reserve assets and decrease in liquid liabilities to
-138
-200
all foreigners; decrease ( - )
mil. $__ -2,670 -2,798 -1,355
Balance on official reserve transactions basis—increase in U.S. official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
-92
0
official agencies; decrease ( - )
mil. $. ~% 044 - l , 546 -1,302
••Revised.
p Preliminary.
1
Estimates for Apr.-June 1966 based on anticipated capital expenditures of business.
2
Estimates for July-Sept. 1966 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1966 are as follows (in bil. $): All industries, 60.78; manufacturing, total, 27.02: durable goods industries, 13.78; nondurable goods industries, 13.24;
mining, 1.42; railroad, 2.05; transportation, 3.49; public utilities, 7.99; commercial and other
(incl. communication), 18.80.
3 Includes communication.




.26
.32
.51
.97

198

.29
.36
.63

186

.30
.37
.59

162

1,369
1,368
1,402
1,354
1,389
1,356
-6,850 - 7 , 032 -7,196 - 7 , 3 9 0
-4,389 -4,579 -4,752 - 4 , 9 0 1
-683
-725
-686
-740
-372
-344
349
-339
-1,382 -1,384 -1,409 - 1 , 4 3 4
-683

-717

-694

-671

-1,360 -1,385 -1,589 - 2 , 1 8 9

-645

p-S5S

-827

-912

p—

-768

-1,605

-346

P-435
P-1,633

-291

-350

-415

-618

-367

-268

-471

p-336

-51

303

70

-151

842

41

271

P424

419
299
120

332
249
83

-296

-152

719
547
172
-203

1,842
1,532
310
-360

180
-145
325
0

-425
-294
-131
-109

242
493
-251
-240

312
79
233
-80

P-228

-248

-552

-617 - 1 / 3 8 1

-697

226

-534

-350

p-563 p-163

-1,158
-326
-231
-144
-845
-618
fSee corresponding note on p. S-l.
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.

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