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SURVEY OF CURRENT BUSINESS

September 1968

NATIONAL INCOME AND PRODUCT TABLES
1968

1967
1966

II

1967

III

IV

1967

II"

1966

II

1967

Seasonally adjusted at annual rates

1968

III

IV

II"

Seasonally adjusted at annual fates
Billions of 1958 dollars

Billions of current dollars

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

747.6

Gross private domestic investment

Nonresidential _
_
Structures _
_
__
Producers' durable equipment— _ . _ _
Residential structures
Nonfarm
Farm

_

__

Change in business inventories.
Nonfarm
Farm

__
_ _ _

_

_

795.3

811.0

831.2

852.9

657.1

673.1

665.7

669.2

675.6

681.8

692.7

703.4

490.3

495.5

502.2

519.4

527.9

417.8

430.5

424.8

431.2

431.8

434.1

444.9

447.5

72.6
215. 8
203.8

69.8
212. 9
198.2

73.4
215.3
201.6

73.1
216.4
205.9

74.2
218.4
209.6

79.0
226.5
213.9

81.0
228.2
218.7

71.3
186.9
159.5

72.4
191.1
167.0

70.1
190. 3
164.4

73.7
191.6
165.9

73.0
72.6
191.1 191.6
168. 1 169.5

77.3
196.5
171.0

78.9
196. 1
172.6

114.3

113.0

107.6

114.7

121.8

119.7

127.3

108.8

99.5

99.8

94.2

99.3

104.7

101.5

107.3

108.2

104.6

105.4

109.3

113.5

117.6

116.5

94.9

93.6

91.8

92.0

94.0

96.7

99.5

97.4

83.6
27.9
55.7

83.5
29.0
54.5

82.7
27.2
55.5

83.3
27.7
55.6

85.0
27.7
57.3

88.6
29.6
59.0

87.0
28.5
58.5

73.8
23.9
49.9

73.7
22.6
51.1

74.2
23.8
50.3

73.3
22.1
51.1

73.2
22.2
51.0

74.0
22.1
52.0

76.5
23.4
53.0

74.5
22.1
52.4

24.8
24.3

24.6
24.0

21.1
20.5

22.7
22.1

26.0
25.4

28.5
27.9

29.1
28.5

29.5
28.9

21.1
20.7

19.9
19.5

17. 6
17.2

18. 7
18.2

22.7
22.2

22.9
22.5

.5

.5

.5

23.0
22.6

.5

20.8
20.3

.5

14.7
14.9
— 2

_

780.2

81.3
28.5
52.8

_

Fixed investment

772.2
480.9

106.1

Durable goods
Nondurable goods
Services

789.7

492. 2

120.8

_

465.5

70.5
206.7
188.3

Personal consumption expenditures

6.1
5.6
5

8.4
8.3
0

2.3
2.2
1

5.3
4.8
6

8.3
7.1

2.1
1.6
4

10.8
10.4

5.9
5.3
6

8.0
7.9
.1

2.3
2.1
.2

5.2
4.5
.7

. 8.0

5

6

6

6

.6

.6

12

6

.6

.4

.5

13.9
14.1

—.2

6.7
1.3

.5

.6

2.0
1.6
.4

9.9
9.6.

.4

5.1

Exports
Imports

4.8

5.2

5.1

5.4

3.4

1.5

2.0

4.0

2.4

3.0

2.8

3.1

1.0

-.1

-.6

43 1
38 1

Net exports of goods and services .

45 8
41 0

45 5
40 3

45 5
40 4

46 1
40 6

46 0
42 6

47 5
46 0

49 9
47 9

40 1
36 1

41 8
39 3

41 4
38.5

41.7
38.9

42.1
39.1

41.9
40.9

44.0
44.1

44.7
45.4

156.2

178 4

173 1

177 3

179 6

183 5

190 5

195.7

126.5

140.7

138.1

141.0

141.4

142.0

146.5

149.2

Federal
National defense-Other
..
.

77 4
60 6
16.8

90 6
72 4
18 2

87 4
70 0
17 4

90 0
72 1
17 9

91 3
72 9
18 4

93 5
74 6
19 0

97 i
76 8
20 3

100 0
79.0
21.0

65 2

74 8

72.7

75.1

75.6

75.6

78.1

80.1

State and local

78 8

87 8

85 8

87 2

88 4

90 0

93 4

95 6

61 3

65 9

65 4

66.0

65.8

66.4

68.4

69.1

Government purchases of goods and services

_

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

__

747 6

789 7

772 2

780 2

795 3

811 0

831 2

852 9

657 1

673 1

665 7

669.2

675.6

681.8

692.7

703.4

732 8
14.7

783 6

763 8
84

778 0

829 1
21

842 1
10.8

643 2
13.9

657 7

670.4

673.8

693.5

2.3

5.2

8.0

690. 7

5.9

8.0

666 9

8.3

667 2

2.3

789 9
53

802 7

6.1

2.0

9.9

382 2

396 9

389 9

394 1

398 9

404 8

414 9

428 4

355 9

361 0

357.2

360.3

361.9

364.4

370.4

379.2

367 5
14 7

390 8
61

381 5
8 4

391 8
2 3

393 6
53

396 5
83

412 8
21

417 6
10 8

342 0
13 9

355 1
59

349 2
80

358 1
23

356. 7

356.4

368.4

369.3

.

5.2

8.0

2.0

9.9

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

156 0
145 7
10 2

159 3
156 4
30

154 5
151 1
33

157 7
157 1

161 1
157 3

168 2
166 7
15

175 3
169 1
62

151 1
141 5
96

150 3
147 6

151 6
148.2

152.8
149.0

155.9
154.5

161.2
155.6

27

146 7
143 8
30

149 9
149 3

38

164 1
159 9
4 2

.6

3.4

3.8

1.4

5.6

226 3
221 8
4 5

237 6
234 5
31

235 4
230 4
50

237 8
236 2
16

240 7
236 6
4 i

246 7
246 1

253 1
248 5
46

204 8
200 5
4 3

210 7
207 5
32

210 5
205 5
5 0

210 5
208 8
17

210 2
208.5

211.6
207.5

214.5
213.9

218.0
213.7

1.8

4.1

.6

4.3

288 0

014 o

qne q

236 4
234 7
17
9i n q

017 K

qoj. 7

qqn A

mo

oqe A

249 6

246 1

247 8

251 2

253 2

255 l

258.7

77 3

77 9

7fi 1

75 3

78 8

81 5

85 8

85 4

64 8

62 5

62 3

61 1

62 5

64.2

67.2

65.5

703.^

Final sales
Change in business inventories
Goods output

_-

Final sales
Change in business inventories

Nondurable goods
Final sales
Change in business inventories
Services
Structures

_ ___

Q

Q

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product

747 6

789 7

772 2

780 2

795 3

811 0

831 2

852 9

657 1

673 1

665 7

669 2

675 6

681.8

692.7

671 1

704 8

con A

fiQA 7 7AQ R

799 3

7/in ^

7£Q Q

OAO 1

All ft

607 9

610 6

616 0

621 7

631 8

641.

646 7
622 0
24 7

677 9
653 7
24 2

664 5
640 7
23 8

670 7
646 7
24 0

682 4
658 0
24 4

694 1
669 4
24 8

719 A.

688 1
24 3

7qn o
7flfi 1

594 0
569 9
24 1

588 5
564 8
23 7

591 2
567 5
23 7

595 6
571 2
24 4

600 8
576.3
24.5

611. 4
587.8
23.6

620. 1
596. S

7

583 4
561 1
22 2

20 2

22 3

21 8

22 1

22 5

22 9

23 5

24 2

14 8

15 5

15 3

15 5

15 6

15.7

16.1

16. ',

Rest of the world

4 2

4 6

41

4 0

50

53

A

A Q

4 0

45

41

39

49

5.2

4.3

4.S

General government..

76 5

04 o

oq K

OK A

oo e

QA S

no A

EC A

KG A

57 8

58 6

59 6

60 1

60.9

61. i

Private
Business
Nonfarm
Farm.
Households and institutions ._.

1

Revised.




Of

0

4

f)A

24.;

CURRENT BUSINESS STATISTICS

JLHE STATISTICS here update series published in the 1967 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.50) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1963 through 1966 (1956-66 for major quarterly series), annually, 1939-66; for selected series,
monthly or quarterly, 1947-66 (where available). Series added or significantly revised after the 1967 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1966 issued too late for inclusion in the 1967 volume appear in the monthly
SURVEY beginning with the September 1967 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.
1965
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS

1966

1967

1965

II

III

1967

1966

IV

Annual total

I

II

III

IV

I

,
III

II

1968

IV

I

II

Seasonally adjusted quarterly totals at annual rates

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

684.9

747.6

789.7

675.7

691.1

710.0

728. 4

740.4

753.3

768.2

772.2

780.2

795.3

811. 0

831.2

'• 852. 9

do

432.8

465.5

492.2

427.9

436.3

447.4

457.8

461.1

469.3

473.7

480.9

490.3

495.5

502.2

519.4

' 527. 9

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

do
_do
do

66.3
30.3
26.9

70.5
30.4
29.8

72.6
30.4
31.4

64.4
29.7
25.9

66.5
30.3
27.1

68.9
30.6
28.9

71.6
31.8
29.3

68.2
28.9
29.0

71.0
30.3
30.4

71.1
30.5
30.4

69.8
28.1
31.1

73.4
31.2
31.2

73.1
31.0
31.4

74.2
31.4
31.8

79.0
34.6
33.3

'81.0
'35.4
r33.9

Nondurable goods, total 9
Clothing and shoes
Food and beverages
_ • _
Gasoline and oil___

do _
do
do __
do.

191.1
35.9
98.8
15.3

206.7
39.8
106.4
16.6

215.8
42.1
109.4
18.1

189.7
35.5
98.2
15.2

192.4
36.2
99.2
15.5

197.8
37.4
102.3
15.9

202.8
39.2
105.1
16.0

206.3
39.4
106.8
16.4

208.3
40.5
107.0
16.7

209.3
40.3
106.9
17.1

212.9
40.9
108.7
17.7

215.3
42.4
108.9
17.8

216.4
42.8
109.1
18.3

218.4
42.3
110.8
18.6

226.5
44.6
113.6
19.7

228.2
44.8
• ' 116.4
19.4

do
__do _
do
do

175.5
25.6
63.5
12.6

188.3
27.1
67.3
13.6

203. 8
29.0
70.9
15.0

173.8
25.4
63.0
12.4

177.4
26.0
64.0
12.8

180.7
26.4
65.1
13.2

183.4
26.2
66.0
13.3

186.7
26.9
66.8
13.6

190.0
27.5
67.6
13.6

193.3
27.8
68.8
13.8

198.2
28.1
69.7
14.7

201.6
28.7
70.4
14.8

205.9
29.2
71.2
15.1

209.6
29.9
72.2
15.5

213.9
30.3
74 0
16.2

' 218. 7
'31.0
75 A
16.3

Gross private domestic investment, total

do

108.1

120.8

114.3

105.3

108.7

113.2

116.8

121.0

119.9

125.7

113.0

107. 6

114.7

121.8

119.7

' 127. 3

Fixed investment
__
Nonresidential
Structures
Producers' durable equipment
Residential structures-. _ _ _
Nonfarm
Change in business inventories. _
Nonfarm.._ __
_

_do
do
do
do
do
do
do
_do

98.5
71.3
25.5
45.8
27.2
26.7

108.2
83.6
27.9
55.7
24.6
24.0

96.5
69 5
25.1
44.4
27.0
26 4

99.6
72.4
25.8
46.6
27.2
26.7

103.5
76 2
27.8
48.3
27.4
26 9

105.6
79.8
28.1
51.7
25.8
25.2
15.4
15.4

107.0
82.6
28.9
53.7
24.4
23.9
12.8
13.3

105.9
84.2
28.2
55.9
21.7
21.1
19.8
20.2

104.6
83.5
29.0
54.5
21.1
20.5

8.4
8.3

2.3
2.2

109. 3
83.3
27.7
55.6
26.0
25.4

9.7
8.5

105.9
78.6
28.6
50.0
27.3
26.8
10.9
10.7

105.4
82.7
27.2
55.5
22.7
22.1

9.6
8.6

106.1
81.3
28.5
52,8
24.8
24.3
14.7
14.9

113. 5
85.0
27.7
57.3
28.5
27 9

117.6
88 6
29 6
59.0
29.1
28 5
2 1

1.6

' 116. 5
' 87.0
'28.5
'58.5
29.5
28.9
' 10.8
' 10.4

Net exports of goods and services _
Exports
__ _ _ _ _
Imports

do
do
do

6.9

5.1

4.5

5.2

5.1

5.4

39.2
32 3

15
47 5
46 0

'2.0
' 49. 9
'47 9

Govt. purchases of goods and services, totaL.do
Federal
_ _ _ _ _ _ _
_
do
National defense
do
State and locaL
_ _
do

190.5
97 1
76 8
93 4

' 195. 7
100. 0
79 0
95 6

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

829
412
166
246
330
85

r

Gross national product, total t
Personal consumption expenditures, total

_

Services, total 9
_ _ _ _ _
Household operation.Housing
Transportation
_ _

6.1
5.6

8.9
8.1

9.1
7.8

4.8

8.1

7.3

6.0

6.0

5.2

43.1
38 1

45.8
41.0

40.8
32 7

40.3
33 0

40.5
34 5

42.1
36 1

4.5

42.6
37 3

43.6
39 1

44.2
39 7

45.5
40 3

45.5
40 4

46.1
40 6

137.0
66.9
50 1
70.1

156.2
77.4
60 6
78.8

178.4
90.6
72 4
87.8

134.4
65.5
49 2
68.9

138.9
67.6
50 1
'71.3

143.3
70 1
52 5
73 2

147.8
72.5
55 3
75.3

153.1
75.6
58 6
77 4

159. 5
79.9
63 0
79.7

164.3
81.5
65 4
82 7

173.1
87.4
70 0
85 8

177.3
90.0
72 1
87 2

179.6
91.3
72 9
88 4

183.
93
74
90

do
do
do
do
do
do

675.3
337.6
133.0
204.7
262. 9
74.8

732.8
367.5
145.7
221.8
288 0
77.3

783.6
390.8
156.4
234.5
314 8
77.9

666.8
333.1
129.9
203.1
260 0
73.7

682, 1
340.7
134 1
206.5
265 8
75.6

700.3
351.1
138 5
212 5
271 0
78.2

717.5
360.5
143.3
217. 3
277 5
79.5

725.0
362.6
142 2
220 4
284 7
77.7

740.4
371.0
147 3
223. 7
292 3
77.2

748 4
375.3
150 2
225 1
298 1
74 9

763.8
381.5
151 1
230 4
306 3
76.1

778 0
391.8
157 1
234 7
310 9
75 3

789.9
393.6
157 3
236 2
317 5
78 8

802 7
396.5
159 9
236 6
324 7
81 5

do
do
do

9.6
6.7
3.0

14.7
10.2

6.1
3.0
3.1

8.9

9.1

10.9
7 6

15.4
9 9

12.8
10 5

2.4

19 8
13 6
6 3

2 3

2.3

9.7
46
5.1

8.4

1.9

5.0

17

53
38
16

8 3
4 2
41

bil. $__

617.8

657.1

673.1

610.4

622.5

636.6

648.6

653.3

659.5

687.1

665.7

669.2

675.6

681.8

692. 7 J

' 703, 4

do

397.7

417. 8

430.5

393.4

400.3

409.2

415. 7

414.8

420.0

420.6

424.8

431.2

431.8

434.1

444.9

447. 5

do
do
do

66.6
178. 6
152 5

71.3
186.9
159 5

72.4
191.1
167 0

64 3
177. 8
151 3

67 1
179.4
153 8

69 8
183 3
156 1

72 9
185.5
157 3

69 2
186.9
158 7

71 8
187.8
160 4

71 4
187 5
161 7

70 1
190 3
164 4

73 7
191 6
165 9

72 6
191 1
168 1

73 0
191 6
169 5

77 3
196 5
171 0

78 9
' 196. 1
T 172 6

do

99.2

108. 8

99.5

96.8

99.6

103 4

106.1

109.5

107.4

112 3

99 8

94 2

99 3

104 7

101 5

T

do
do
do
do

90.1
66.3
23.8
9.0

94 9
73.8
21.1
13.9

93 6
73.7
19.9
5.9

88 5
64.8
23.7
8.3

91 1
67.3
23.8
8.6

94 0
70 3
23.8
9.3

95 8
72.2
23.6
10.3

94 7
72.7
22.0
14.7

95 5
74.8
20.7
12.0

91 8
74 2
17.6
8.0

92 0
73 3
18.7
2.3

94 0
73 2
20.8
5.2

96 7
74 0
22.7
8.0

99 5
76 5
23.0
2.0

' 97 4
74 5
'22.9
'9.9

6.7

57

5.3

4.3

3.6

2 9

30

2 8

31

10

_ i

' -.6

115 9
58 5
57.4
' Revised.
p Preliminary.
t Revised series. Estimates of national income and product and personal income have been revised back to 1965 (see p. 19 ff. of the July 1968

118 4
59 6
58.7

121 5
61 8
59.6

124 7
64 0
60.7

128 5
66 9
61.6

131 3
67 9
63.4

138 1
72 7
65.4

141 0
75 1
66.0

141 4
75 6
65.8

142 0
75 6
66.4

146 5
78 1
68.4

149 2
80 1
69.1

_ _ _ _
_ _
_ _ _
_
_ _ _

_

Change in business inventories..
Durable goods
_
Nondurable goods

4.5

6 9

6 8

3.3

5.5

33

6

5.3
4.8

8.3
7.1
3 4
46.0
42 6
5
5
6
0

1
8
7
1
4
8

842. 1
' 417. 6
r
169 1
248.5
'' 339 2
'85.4

2 1
15

' 10.8
' 6 2
'4.6

6

GNP in constant (1958) dollars
Gross national product, total f
Personal consumption expenditures, total
Durable goods
Nondurable goods.
Services

_

Gross private domestic investment, total.
Fixed investment
_
Nonresidential
__ _ _
Residential structures
Change in business inventories
Net exports of goods and services

_ _

_.do

6.2

4.0

2.4

7.0

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

114.7
57 9
56.8

126.5
65 2
61.3

140.7
74 8
65.9

113 1
57 2
56.0




93 7
75 4
18.2
18.6

SURVEY for data beginning 1965); revisions prior to May 1967 for personal income
on p. 28 ff. of the July 1968 SURVEY.
9 Includes data not shown separately.

s-1

107. 3
r

SURVEY OF CUREENT BUSINESS

S-2
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS

1965

1966

1967

Annual total

1967

1966

1965
IV

September 1968

I

II

III

IV

I

II

1968
IV

III

I

II

III

IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
bil $

564.3

620.8

652.9

586.3

604.0

615.1

626.7

637.3

638.6

645.1

656.9

670.9

688.1 ' 705. 4

do

393.8

435.6

468.2

408.5

420.6

430.8

441.4

449.7

456.7

461.8

471.5

482.7

496.8

507.1

do
do
do
do
do

358.9
289.6
12.1
57.1
35.0

394.6
316. 9
14.6
63.1
41.1

423.4
337.1
16.3
70.0
44.8

372.4
299. 9
13.1
59.4
36.1

381.0
306.7
13.6
60.6
39.6

390.2
314.0
14.2
62.1
40.5

399.8
320.8
14.9
64.1
41.5

407.2
326.0
15.5
65.7
42.5

413.3
330.2
15.8
67.2
43.4

417.6
332.8
15.9
68.8
44.2

426.3
339. 4
16.1
70.8
45.2

436.4
346.0
17.1
73.3
46.2

448.3
355.7
17.5
75.2
48.4

457.6
362.8
17.8
77.0
49.4

do
do
do
do

National income, totalf

57.3
42.4
14.8
19.0

60.7
44.8
15.9
19.8

60.7
46.3
14.4
20.3

59.3
44.0
15.2
19.3

61.5
44.5
16.9
19.5

60.8
44.7
16.1
19.7

60.2
44.7
15.5
19.9

60.2
45.2
15.1
20.0

60.1
45.7
14.4
20.1

60.5
46.1
14.4
20.2

61.2
46.6
14.6
20.4

61.1
46.8
14.3
20.5

61.8
47.2
14.6
20.7

62.6
47.8
14.8
20.9

Compensation of employees total
Wages and salaries, total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income total 9
Business and professional 9
Farm
Rental income of persons

Corporate profits and inventory valuation adjustment, total
bil. $
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

76.1

83.9

80.4

80.3

82.7

83.4

84.2

85.3

79.5

79.6

80.2

82.3

83.8

'•89.2

8.7
67.4
39.3
16.6
22.8

10.2
73.7
42.8
18.8
24.1

10.3
70.1
39.2
18.0
21.2

9.6
70.7
41.5
17.2
24.2

9.8
72.8
42.9
18.5
24.4

10.2
73.2
42.6
18.8
23.8

10.4
73.8
42.7
19.0
23.6

10.4
74.9
43.3
18.8
24.5

10.3
69.2
39. 3
18.3
21.0

10.2
69.5
39.1
17.9
21.2

10.3
69.9
38.5
17.9
20.6

10.6
71.7
39.9
18.0
21.9

11.0
72.9
41.3
19.0
22.3

'11.2
'77.9
44.9
19.7
25.2

11.1
16.9

12.0
18.8

11.8
19.0

11.8
17.4

11.8
18.1

12.1
18.5

12.1
19.0

12.0
19.6

11.7
18.1

11.8
18.6

12.0
19.4

11.9
20.0

12.5
19.0

12.5
20.6

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

77.8
31.3
46.5
19.8
26.7
-1.7
18.2

85.6
34.6
51.0
21.7
29.3
-1.7
20.8

81.6
33.5
48.1
22.9
25.2
-1.2
23.3

82.6
33.3
49.3
21.0
28.4
-2.3
19.0

85.2
34.5
50.8
21.6
29.1
-2.6
19.8

85.6
34.6
51.0
21.9
29.1
-2.2
20.4

86.7
35.0
51.6
21.9
29.7
-2.5
21.1

85.0
34.4
50.7
21.6
29.1
.3
22.0

79.9
32.8
47.1
22.5
24.6
-.4
22.2

80.3
33.0
47.3
23.2
24.1
— .7
22.9

80.8
33.2
47.6
23.5
24.1
-.6
23.6

85.4
35.1
50.3
22.5
27.9
-3.1
24.3

88.9
39.8
49.1
23.6
25.5
-5.1
25.0

'91.8
'41.1
'50.7
24.4
' 26. 3
—2 7
25.8

bil $
do
do
do
do

538.9
65.7
473.2
444.8
28.4

586.8
75.3
511.6
478.6
32.9

628.8
82.5
546.3
506.2
40.2

558.4
66.7
491. 6
459. 8
31.8

570.4
70.4
500.0
470.5
29.5

580.3
74.7
505.5
474.2
31.4

592.1
76.8
515.4
482.5
32.9

604.5
79.2
525.4
487.3
38.1

614.8
80.5
534.2
494.6
39.7

621.6
80.1
541.5
504.5
37.0

633.7
83.6
550.0
509. 5
40.5

645.2
85.6
559. 6
516.1
43.4

662.7
678.1
88.3 '91.9
574.4
586.3
533.5 ' 542. 3
40.8 '44.0

Unadjusted quarterly or annual totals:
All industries
.
— _ _ _ bil. $
Manufacturing _
_
__do
Durable goods industries!
do
Nondurable goods industries!
do

51.96
22.45
11.40
11.05

60.63
26.99
13.99
13.00

61.66
26.69
13.70
13.00

14.95
6.72
3.48
3.24

12.77
5.61
2.87
2.74

15.29
6.78
3.51
3.27

15.57
6.84
3.54
3.30

17.00
7.75
4.07
3.68

13.59
6.10
3.08
3.02

15.61
6.81
3.46
3.34

15.40
6.48
3.33
3.15

17.05
7.30
3.82
3.48

14.28 ' 15. 90
5.79 '6.50
2.96 '3.22
2.82 '3.28

1.30
1.73
2.81
6.94
4.94
11.79

1.47
1.9S
3.44
8.41
5.62
12.74

1.42
1.53
3.88
9.88
5.91
12.34

.35
.46
.73
2.04
1.41
3.25

.33
.40
.75
1.60
1.26
2.83

.40
.55
1.00
2.09
1.42
3.06

.37
.48
.82
2.36
1.36
3.33

.38
.55
.86
2.36
1.58
3.52

.32
.41
.70
1.84
1.35
2.87

.34
.41
1.12
2.46
1.49
2.99

.37
.35
.98
2.66
1.46
3.09

.39
.36
1.07
2.92
1.62
3.39

.36
.37
.98
2.33
1.48
2.96

do
do
do
do
do
do
do

DISPOSITION OF PERSONAL INCQMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
Less' Personal tax and nontax payments
Equals* Disposable personal income
Less* Personal outlays 0
Equals* Personal saving§
NEW PLANT AND EQUIPMENT
EXPENDITURES

Mining
_
Railroad _ _ _ _ _ _ _ _ _
Transportation, other than rail
Public utilities
_
Communication
Commercial and other

_ _

do
do_ _
do
do .
do
do

116.44 2 17. 75
' 6.66
7.60
' 3. 32
3.91
'3.33
3.69

'.38
'.36
.34
'.38
1.04 ' 1.23
'2.97 '2.98
1.51
'3.14 '34.84

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries!
Nondurable goods industries!

do
do
do
do

55.35
24.15
12.45
11.70

58.00
25.60
13.15
12.45

60.10
25. 80
13.85
12.95

61.25
27.55
14.35
13.20

62.80
27.75
14.50
13.25

61.65
27.85
14.20
13.70

61.50
27.00
13.75
13.25

60.90
26.15
13.50
12.65

62.70
26.00
13.50
12.55

64.90
26.35
13.65
12. 70

Mining
Railroad
Transportation, other than rail
Public utilities
Communication
Commercial and other

do
do
do
do
do
do

1.35
1.95
3.00
7.30
5.30
12.25

1.40
1.75
3.30
8.25
5.35
12.35

1.55
2.00
3.50
8.30
5.50
12.45

1.45
1.85
3.40
8.55
5.60
12.85

1.45
2.35
3.50
8.50
5.95
13.30

1.40
1.80
3.05
9.20
5.75
12. 55

1.30
1.55
3.90
9.70
5.80
12.25

1.45
1.40
4.10
9.80
6.05
11.95

1.50
1.40
4.45
10.65
6.05
12.65

1.55 ' 1.40 '1.55
1.65 '1.45
1.35
4.35
3.65 '5.05
11.60 ' 11. 65 ' 11.00
6.35
5.90
13.00 ' 12. 90 '319.15 3

10,120
6,925
206
1,345
1,644

10,528
7,188
200
1,478
1,662

10,645
7,179
219
1,537
1,710

10,912
7,369
205
1,589
1,749

11,059
7,440
205
1,648
1,766

11,371
7,661
335
1,594
1,781

11,377
7,703
336
1,556
1,782

11,513
7,626
245
1,827
1,815

.38
.43
1.30
3.00

35.04

11,496 '11,860 pl2, 4Z8
7,924 p 8, 302x
7,478
P362
306
323
1,882 ' 1, 742 P 1,916
1,813 ' 1,888 p 1, 898

'
'
'
'

62. 75 '164.90 2 65. 15
25. 80 ' 26. 80 27.15
12. 80 ' 13. 45 13.75
13.40
13. CO ' 13. 35

1.45
1.60
5.30
11.00
18. 70

U.S. BALANCE OF INTERNATIONAL
PAYMENTS^1
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise adjusted, excl military
do
Military sales
do
Income on U S investments abroad
do
Other services
do

39,197
26, 244
830
5,894
6,229

43, 144
29, 176
829
6,252
6,887

45, 757
30,468
1,239
6,859
7,191

-32,296 -38,063 -40,988 -8, 624 -9,020 -9,336 -9, 778 -9, 929 -10,078 -10,108 -10,154 -10,648 '-11,50 P 11, 986 Imports of goods and services
do
-21,516 -25, 541 -26, 991 -5, 782 -6,036 -6,263 -6,567 -6, 675 -6,686 -6,605 -6, 541 -7, 159 ' -7,837 p-S, 293
Merchandise adjusted excl military
do
-793
962
-979 -1,072
1,065 -1,098 -1, 104 * 1,110 p 1, 143
-872
-923
-2,945 -3,736 -4,339
Military expenditures
do
-560
-469
-556
-560
-575
-476
-479
-598 ' -660 r> -6'95
-563
-1, 729 -2,074 -2,293
Income on foreign investments in the U.S__do
-6,106 -6,712 -7,365 -1,580 -1, 636 -1,671 -1,693 -1,712 - 1. 760 -1,878 -1,940 -1,787 ••-1,897 p-1,855
Other services
do
Unilateral transfers, net (excl. military grants);
-732
-859
-845
-730
-845
-641 ' -642 P -7,1-i'
-680
-701
-647
transfers to foreigners ( — )
mil. $ -2, 834 -2,925 -3,075
r
Revised.
» Preliminary.
0P ersonal <outlays c omprise personal consum ption ex penditur es, intenjst paid by con1
sume rs, and p ersonal t ransfer p ayments to foreig lers.
Estimates for July-Sept. 1968 based on anticipat 3d capita 1 expendibures of biisiness.
2
§Pe rsonal sa ving is e xcess of c isposable, income over per sonal out Lays.
Estimates for Oct.-Dec. 1968 based on anticipated capital expendit ures of bu siness.
HD ata for iridividual durable and non durable goods in dustries eompone nts appear in the
Anticipated expenditures for the year 1968 are as folkws (in bi l.$):Alliiidustries, 64.37; ma nuMar., June, Sept., and Dec. issu es of the SURVEY
facturing, total, 26.55; durable goods industries, 13 .42; nonelurable g()ods indu stries, 13 .13;
mining, 1.49; railroad, 1.52; transportation, 4.55; pul)lic utilit ies, 11.29; commun cation, 6 .42;
cflV ^ore com Dlete deta ils are gi1/en in tht5 quarter y review s in the IVlar., Jucie, Sept., and Dec.
3
issues of the S [JEVEY. ] Revised <iata bacJ c to 1960 appear c>n p. 32 1I. of the June 1968 issue.
commercial and other, 12.56.
Includes communi cation.
fSee corresponding note on p. S-l.
9 Includes i nventory valuatioii adjustment.




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