View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

SUKVEY OF CURRENT BUSINESS

March 1967

NATIONAL INCOME AND PRODUCT TABLES
1965
1964

1965

1966

IV

III

1965

1966
I

II

III

IV

1964

1965

1966

1966
IV

III

Seasonally adjusted at annual rates

I

II

III

IV

Seasonally adjusted at annual rates
Billions of 1958 dollars

Billions of current dollars

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

631.7

Personal consumption expenditures
Durable goods
Nondurable goods
Services

._

.

681.2

739.6

686.5

704.4

721.2

732.3

745.3

759.3

580.0

614.4

647.8

618.2

631.2

640.5

643.5

649.9

657.2

401.4

Gross national product

431.5

464.9

435.0

445.2

455.6

460.1

469.9

474.1

373.8

396.2

415.5

398.9

406.5

412.8

412.2

418.3

418.5

59.4
178.9
163.1

66.1
190.6
174.8

69.3
206.2
189.4

66.7
191.4
176.9

68.0
197.0
180.2

70.3
201.9
183.4

67.1
205.6
187.4

70.2
208.1
191.5

69.6
209.2
195.3

59.1
170.5
144.2

66.4
178.2
151.6

70.7
186.0
158.7

67.2
178.5
153.1

69.2
182.5
154.8

72.2
184.1
156.5

68.5
185.8
157.9

71.6
187. 1
159.6

70.6
187.1
160.8

93.0

106.6

117.0

106.7

111.9

114.5

118.5

115.0

120.0

86.5

97.8

104.7

97.9

102.2

103.5

106.3

102.5

106.4

88.3
60.7
21.0
39,7
27.6
27.0
.6
4.7
5.3
-.6

97.5
69.7
24.9
44.8
27.8
27.2
.6
9.1
8.1
.9

105.1
79.3
27.8
51.4
25.8
25.3
.6
11.9
12.2
-.3

98.0
70.2
24.4
45.8
27.8
27.3
.5
8.7
7.2
1.5

101.5
73.9
26.8
47.1
27.6
27.0
.5
10.4
9.0
1.4

105.6
77.0
28.5
48.5
28.6
28.0
.5
8.9
8.5
.5

106.2
78.2
27.9
50.3
28.0
27.4
.6
12.3
12.1
.2

105.1
80.3
27.7
52.6
24.8
24.3
.6
9.9
10.4
-.5

103.5
81.6
27.3
54.4
21.9
21.3
.6
16.4
17.6
-1.2

81.9
89.0
57.4 - 64.9
18.9
21.7
38.5
43.2
24.1
24.6
24.0
23.6
.5
.5
4.6
8.8
5.2
8.0
.9
-•6

93.6
72.1
23.4
48.7
21.5
21.0
.5
11.1
11.4
-.3

89.4
65.5
21.3
44.2
23.9
23.4
.5
8.5
7.1
1.4

91.9
68.4
23.2
45.2
23.5
23.0
.5
10.2
8.9
1.3

95.0
70.8
24.3
46.4
24.3
23.8
.5
8.5
8.0
.4

94.7
71.3
23.6
47.7
23.4
22.9
.5
11.6
11.4
.2

93.5
73.0
23.2
49.8
20.5
20.0
.5
9.1
9.6
-.5

91.2
73.3
22.7
50.7
17.9
17.4
.5
15.2
16.4
-1.2

8.5
37.0
28.5

7.0
39.0
32.0

4.8
42.7
37.9

7.1
40.1
33.0

6.1
40.3
34.2

6.0
41.7
35.6

4.7
41.9
37.3

4.2
43.4
39.2

4.1
43.6
39.5

8.5
36.4
28.0

6.3
37.3
31.0

4.7
41.1
36.4

6.4
38.4
31.9

6.0
38.7
32.8

5.9
40.1
34.2

4.6
40.3
35.8

4.2
41.8
37.6

4.1
42.0
37.9

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

128.9
65.2
50.0
15.2
63.7

136.2
66.8
50.1
16.7
69.4

153.0
76.9
60.0
16.9
76.2

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

156.2
79.0
62.0
17.0
77.2

161.1
81.7
65.5
16.2
79.4

111.3
57.8

114.1
57.8

123.2
64.0

115.0
58.3

116.6
59.3

118.3
60.4

120.4
61.9

124.9
65.5

128.3
67.6

53.4

56.3

59.1

56.7

57.3

57.9

58.5

59.4

60.7

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

108.9

110.9

114.2

111.0

111.6

112.6

113.8

114.7

115.5

Gross private do mestic investment
Fixed investment
- _
Nonresidential
Structures,- .
Producers' durable equipment.. .
Residential structures
Nonfarm .
Farm
_
.
Change in business inventories
Nonfarm .
Farm
___
._.__
Net exports of goods and services. .
Exports
Imports

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

631 7

681.2

739.6

686 5

704 4

721.2

732 3

745 3

759.3

580.0

614.4

647.8

618.2

631.2

640.5

643.5

649.9

657.2

-. . .627.0
__ .__
4.7

672.1
9.1

727.7
11.9

677. 8
8.7

694.0
10.4

712.3
8.9

720.0
12.3

742.9
16.4

575.4
4.6

605.6
8.8

636.7
11.1

609.7
8.5

621.0
10.2

632.0
8.5

631.9
11.6

640.8
9.1

642.0
15.2

318 2

344 7

377 2

347 5

358 8

366 0

371 6

735.4
9.9
379 6

390 7

307 2

328 5

351 5

330 9

341.0

344 7

346 7

352 8

360.9

335 7
9.1

365.3
11.9

338 8
8.7

348 4
10.4

357 0
8.9

359 3
12.3

369 7
9.9

374 2
16.4

302 6
4.6

319 7
8.8

340.4
11.1

322 4
8.5

330.7
10.2

336.2
8.5

335 1
11.6

343.7
9. 1

345.7
15.2

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

125.5 138.5
122 2 132 2
33
6. 3

154.9
145.9
9.0

141.0
134 3
6 7

142.6
137 9
4 7

147.6
141 8
5.8

149 6
140 6
90

158 1
148 7
9 5

163.6
151 7
11.9

123 1
119 9
32

135.5
129 4
6.1

150.8
142.4
8.4

138 3
131 8
6 5

140.3
135 7
4.7

145.4
139 9
5.5

146 0
137 6
8.4

153.7
145 1
8.7

157.4
146.5
10.9

Nondurable goods .
Final sales
Change in business inventories

192 7 206 3
191 3 203 5
14
2 7

222.4
219 5
2.9

206 5
204 4
21

216 2
210 5
57

218 4 222 0
215 2 218 7
31
33

221 4
221 0
5

227 1
222 5
4 6

184 1
182 7
14

193 0
190 3
27

200 8
198 0
2.7

192 6
190 6
20

200 6
195 1
56

199 4
196 3
3.0

200 8
197 6
32

199 0
198 6
4

203.5
199.2
4.3

Gross national product
Final sales .
Change in business inventories.
Goods output
Final sales
Change in business. in ventories..

313 6
4.7

244 5

262 0

285 9

265 1

268 8

275 5

282 1

289 9

296 2

211 2

221 1

232 4

223 3

224 0

227 7

230 9

234 4

236 6

Structures

68 9

74 5

76 6

73 9

76 9

79 8

78 6

75 8

72 5

61 7

64 8

64 1

64 0

66 2

68 0

66 0

62 8

59.8

Addendum : Gross auto product

25 8

31 4

29 4

31 6

30 5

31 5

28 6

27 9

29 4

25 4

31 4

29 9

31 9

30 7

32 2

29 1

28 5

29.7

657.2

Services

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 _ .._




631.7

681.2

739.6

686 5

704 4

721 2

732 3

745 3

759.3

580 0

614 4

631.2

640.5

643.5

649.9

613 4

663 4

618 2

633 8

648 4

657 6

667 7

679 4

530 8

563 5

647.8
593 g

618 2

568 7

567 2

579 4

588 0

589 9

595 1

601 5

547
527
20
17
4

590
567
23
18
4

8
1
8
3
3

639 5
614 7
24 8
19.5
4 4

595 3
570 6
24 7
18 7
41

611 2
586 6
24 7
19 1
34

624
599
25
19
4

634
609
25
19
4

513 3
491 2
22 0
13 6
39

545 4
521 7
23 8
14 0
41

574
552
22
14
4

548
524
24
14
4

9
6
3
2
0

561 6
537 5
24 1
14 5
33

569
546
23
14
4

571
548
22
14
4

576
554
21
14
4

2
5
7
5
4

582 8
560.1
22.8
14.6
4 0

67 8

76 2

68 3

70 6

643
619
24
19
4
77

655 3
631 0
24 3
20 0
41
79 9

49 2

50 9

51 1

51.8

54 8

55.8

4
0
4
3
0

63 0

9
3
7
1
4

72 8

0
0
0
1
5

74 7

5
1
4
7
6
g

9
3
6
4
3

54 2

4
4
0
3
3

52 5

4
4
9
2
3

53 6

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.
1964

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

1

1965

1966

1964

1963
IV

I

II

|

1966

1965
III

|

IV

I

|

II

III

I

IV

III

II

IV

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
605.8

616.8

627.7

637.9

644.2

660.8

672.9

686.5

704.4

721.2

732.3

745.3

759.3

381.5

391.1

398.0

407.5

408.8

418.9

426.8

435.0

445.2

455.6

460.1

469.9

474.1

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

70.2
30.1
30.7

69.6
29.8
30.7

206.2
40.3
104.8
16.1

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

208.1
41.1
105.5
16.1

209.2
40.8
105.4
16.6

174.8
25.6
63.2
12.8

189.4
27.2
67 7
14.0

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

191.5
27.6
68.2
14.2

195.3
27.7
69.5
14.5

93.0

106 6

117.0

92 9

90 2

91.8

92.5

97.4

103.8

103.7

106.7

111.9

114.5

118.5

115.0

120. 0

do
do
_ .do
do
do
do
do
_do _

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

105 1
79 3
27.8
51 4
25 8
25 3
11 9
12.2

84
56
19
36
28
27
8
7

7
8
9
8
0
4
1
0

86 6
58 1
20.3
37 9
28 5
27 9
35
36

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
36
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

106.2
78.2
27.9
50.3
28.0
27.4
12.3
12.1

105.1
80.3
27.7
52.6
24.8
24.3
9.9
10.4

103.5
81.6
27.3
54.4
21.9
21.3
16.4
17.6

do
do. _
do

8.5
37.0
28 5

7.0
39.0
32 0

4 8
42 7
37 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

86
38.1
29 6

6 4
35 1
28 7

82
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

4.2
43.4
39.2

4.1
43. 6
39.5

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

128.9
65 2
50 0
63 7

136.2
66 8
50 1
69 4

153.0
76 9
60 0
76 2

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

156.2
79.0
62.0
77.2

161. 1
81.7
65.5
79.4

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

do
do
do
do
do
do

627.0
313 6
122 2
191 3
244 5
68 9

672.1
335 7
132 2
203 5
262 0
74 5

727
365
145
219
285
76

597
298
117
180
232
67

613
307
119
187
237
68

623
311
122
189
242
69

5
4
4
0
7
4

634 4
318 8
125 0
193 8
247 1
68 5

636
316
122
195
251
68

651
324
127
196
254
72

4
3
7
6
3
7

665 3
331 2
128 8
202 4
259 §
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

735.4
369.7
148.7
221.0
289.9
75.8

742. 9
374.2
151.7
222.5
296.2
72.5

Change in business inventories
Durable goods..
____
Nondurable goods

do
do
do

4 7
33
1.4

9 1
6 3
2.7'

7 6
6 4
1.2

8 7
6 7
2.1

10 4
4 7
5.7

89
5.8
3.1

12.3
9.0
3.3

9.9
9.5
.5

16.4
11.9
4.6

Gross national product, totalf

. __ .

bil. $

631.7

681.2

739.6

do

401.4

431.5

464.9

59.4
25.8
25.1

66.1
29.8
27.1

69.3
30.0
30.1

178.9
33.6
92.8
14.1

190.6
35.9
98.4
15.1

163.1
24.3
59 2
11.8

do

_

Personal consumption expenditures, total

Durable goods, total 9
do
Automobiles and parts . . _. . . do
Furniture and household equipment ._ _ _ d o _ _ _
Nondurable goods, total 9 _ .
Clothing and shoes
Food and beverages
Gasoline and oil
_

_

do
__do
do
.do

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

do
do. .
do
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

_

__

_

7
3
9
5
9
6

7
1
3
8
2
4

3
1
6
5
3
8

8
9
0
0
1
8

11 9
9 0
2 9

81
38
4 4

35
2 3
12

4 2
36
5

36
2 8
.8

7 4
4 4
2 9

9 5
7 4
2 1

GNP in constant (1958) dollars
bil. $

580 0

614 4

647 8

562 1

569 7

578 1

585 0

587 9

600 3

607 8

618 2

631 2

640.5

643.5

649.9

657. 2

do

373.8

396.2

415.5

357.7

365.7

371.0

379.5

378.9

387. 1

392.2

398.9

406.5

412.8

412. 2

418.3

418. 5

do
do
do

59 1
170 5
144.2

66 4
178 2
151.6

70 7
186 0
158.7

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

72 2
184. 1
156.5

68. 5
185. 8
157.9

71.6
187.1
159.6

70. 6
187.1
160.8

do

86.5

97.8

104 7

87 7

84 6

85 6

85.7

90 2

95.9

95.3

97.9

102.2

103.5

106.3

102.5

106.4

do
do
do
do

81 9
57 4
24.6
4.6

89 0
64 9
24.1
8.8

93 6
79 i
21. 5
11. 1

79 7
54 3
25.4
8.1

81 9
55 5
25.7
3.5

81 6
56 6
24.9
4.0

82 2
58 2
24.1
3.5

82 9
8
59
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

93.5
73.0
20. 5
9. 1

91.2
73.3
17.9
1 5. 2

Net exports of goods and services

do

85

6 3

4 7

7 i

9

9

8 4

8 0

5 7

7 l

6.4

6.0

5.9

4.6

4.2

4. 1

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

do
do
do

115.0
58 3
56.7

116.6
59.3
57.3

118.3
60.4
57.9

120.4
61.9
58.5

124. 9
65.5
59.4

128.3
67. 6
60. 7

Gross national product, totalf

-

Personal consumption expenditures, total
Durable goods
Nondurable goods
Services

_ _ _

Gross private domestic investment, total
Fixed investment
NonresidentiaL . .
_
Residential structures
Change in business inventories

111.3
57 8
53. 4

114.1
57 8
56. 3

123. 2
64 0
59. 1

109. 5
58 7
50 Q

110.3
58 9
52.0

r
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




9

8

113.3
59 7
53. 6

111.3
57 4
53. 9

110.1
56 1
54.0

111.5
56 2
55. 3

113.2
57 3
55. 9

SURVEY); revisions prior to May 1965 for personal income appear on p. 18 it. of the July 1966
issue of the SURVEY.
9 Includes data not shown separately.

S-l

SURVEY OF CUKRENT BUSINESS

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

1964

| 1965

Annual total

1966

1964
II

III

March 1967
1966

1965
IV

II

I

III

IV

II

I

1967

rv

III

I

II

GENERAL BUSINESS INDICATORS— Quarterly Series— Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
522.9
517. 3 559.0 p 610. 1 513.7
National income totalt
foil
$
433.3 302. 2 369.8
Compensation of employees total
do
365.7 392.9
392.3 330.6 337.4
Wages and salaries total
do
333.6 358.4
314.8
267.1
272.3
Private
do
269.3 289.1
14.6
12.1
11.6
Military
do
11.7
11.7
62.8
51.9
53.4
Government civilian
do
52.6
57.1
32.4
41.0
31.7
Supplements to wages and salaries
do
34.5
32.0
57.8
52.2
51.9
Proprietors' income, total 9
do
51.9
55.7
41.8
39.9
Business and professional 9
do
40.3
39.9
40.7
16.0
12.2
Farm
do
12.0
15.1
11.7
18.9
17.6
17.8
Rental income of persons
do
18.3
17.7
Corporate profits and inventory valuation adjust74.2
P80.2
66.5
67.8
ment total
bil $
66.6
By broad industry groups:
8.4
10.0
8.4
8.9
8.5
Financial institutions
do
P70.2
59.3
58.2
65.3
58.1
Nonfinancial corporations total
do
32.4
33.0
Manufacturing total
do
32.4
37.8
P41.1
14.6
15.7
14.6
Nondurable goods industries
do
14.5
P17.3
18.4
22.1
17.7
17.9
Durable goods industries
do
P23.8
Transportation, communication, and public
10.2
pll.9
10.6
10.4
utilities
bll $
11.1
16.4
15.5
15.7
15.4
P17.2
All other industries
do
67.8
66.8
67.0
75.7
Corporate profits before tax total
do
P82.3
31.2
28.3
28.7
28.4
P33.9
Corporate profits tax liability
do
39.1
38.5
44.5
p48. 4
Corporate profits after tax
do
38.7
17.4
19.2
17.3
20.9
17.3
Dividends
do
21.3
21.7
25.3
Undistributed profits
do
v 27. 5
21.3
.0
-.3
-.4
-1.5
-2.1
Inventory valuation adjustment
do
15.7
17.8
15.1
15.5
20.0
Net interest
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
492.0 500.3
496.0 535.1
580.4
Personal income total
bil $
56.9
59.1
59.4
66.0
75.1
Less' Personal tax and nontax payments
do
469.1
436.6
,505.3 435.1 441.2
Equals: Disposable personal income
do
443.4
412.1
478.3 408.5 418.4
Less* Personal outlays©
do
22.8
26.6
24.5
25.7
Equals' Personal saving!
do
27.0
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
11.54
44.90 51.96
11.11
All industries
bil $
60.63
4.67
4.53
18.58
Manufacturing
do
22.45
26.99
2.37
2.30
9.43
11.40
Durable goods industries
do
13. 99
2.23
2.30
9.16
11.05
Nondurable goods industries .
do
13.00
.30
.29
1.19
Mining
do
1.30
1.47
.37
.36
1.41
Railroad .
.
do
1.73
1.9S
.59
.63
2.38
2.81
Transportation, other than rail . . .
do
3.44
1.71
1.58
6.22
Public utilities
do
6.94
8.41
1.06
1.10
4.30
4.94
Communication
do
5.62
2.84
2.61
10.83 11.79
Commercial and other
do
12.74
Seas. adj. qtrly. totals at annual rates:
43.50 45.65
All industries
.
__
do
18.85
17.80
Manufacturing
do
9.60
9.00
Durable goods industries
do
9.20
8.80
Nondurable goods industries
do
1.20
1.15
Mining.. _ _ _
do
1.25
1.50
Railroad
_
do
2.25
2.40
Transportation, other than rail
do
6.30
6.30
Public utilities...
do
4.40
4.30
Communication
do
10.45
11.00
Commercial and other
do
U.S. BALANCE OF INTERNATIONAL
PAYMENTSd*
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
36,958 38,993 P 42, 910 9,001 9,308
military grants)
mil $
6,092 6,389
25,297 26,276 p 29, 180
Merchandise, adjusted, excl. military
do
162
186
747
Military sales
do
844
P908
1,369
1,368
5,392 5,901 v 6, 180
Income on U S investments abroad
do
1,389
1,354
5,522
5,972 P6.642
Other services
do
-28,468 -32, 036 p-37, 614 -7, 032 -7,196
Imports of goods and services. .
_
do
Merchandise, adjusted, excl. military
_ d o _ _ _ -18,621 -21,488 p-25, 507 -4, 579 -4, 752
-686
-2,834 -2,881 p-3, 649 -725
Military expenditures
do
-349
-344
Income on foreign investments in the U . S _ _ d o _ _ _ -1,404 -1,646 p-1, 868
-5,609 -6,021 p-6, 590 -1,384 -1,409
Other services
do
Unilateral transfers, net (excl. military grants);
-694
-2,765 -2,794 p-2, 907 -717
transfers to foreigners ( — )
mil $
Transactions in U.S. private assets, net; increase
-6, 523 -3, 690 p-3, 911 -1,385 -1,589
(— )
mil $
Transactions in U.S. Govt. assets, excl. official
-415
-1,674 -1,575 p-1, 481 -350
reserve assets* increase ( — )
mil $
Transactions in U.S. official reserve assets, net;
70
303
1,222
171
increase ( — )
mil $
P568
Transactions in foreign assets in the U.S., net (U.S.
332
719
3,312
309 p 3, 024
liabilities)" increase (-f-)
mil $
547
249
2,627
115
Liquid assets
,
do
p856
172
83
685
194 p2. 168
Other assets
do
-152
-203
-429
-1,011
Unrecorded transactions
.
do
p -589
Balance on liquidity basis—increase in U.S. official
reserve assets and decrease in liquid liabilities to
-617
-552
-2,798 -1,337 p-1, 424
all foreigners* decrease ( — )
mil $
Balance on official reserve transactions basis—increase in U.S. official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
-231
-326
-1,546 -1,305
p271
official agencies' decrease ( — )
mil $
' Revised.
P Preliminary.
1
Estimates for Jan.-Mar, 1967 based on anticipate d capital t xpenditiires of bu siness.
?
Estimates for Aor.-June 1967 based on antici]Dated capital expe nditures of busii ess.
Anticipated expenditures for the year 1967 are as foliows (in bil $): Alii ndustries, 63.00; m inufactoring, total, 27.94; durable goods industries, 1^1.64; nond urable g oods indiistries, 1 5.30;
mining, 1.58; railroad, 1.48: transportation, 3.94; pu blic utilit ies, 9.15; commerc al and other
find, communication), 18.91.
3 includes commurlication.




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

604.1
427.9
387.4
311. 5
14.1
61.8
40.5
57.9
41.6
16.3
18.8

66.8

73.2

72.7

74.0

76.9

80.0

79.9

79.1

8.6
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

9.8
70.0
40.6
17.2
23.4

10.1
69.0
39.5
17.0
22.5

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 i
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

12.0
17.4
82.8
34.1
48.7
21.1
27.6
-2.9
19.6

12.2
17.2
81.9
33.7
48.2
21.1
27.1
-2.8
20.2

P81.9
P33.8
P48. 2
20.7
P27.5
.0
21.0

507.5
60.9
446.6
420.0
26.6

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

585.2
77.4
507.8
483.3
24.5

598.3
79.8
518.4
488.0
30.4

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
5.61
2.87
2.74
.33
.40
.75
1.60
1.26
2.83

15.29
6.78
3.51
3.27
.40
.55
1.00
2.09
1.42
3.06

15.57 ' 17. 00
6.84 '7.75
3.54 '4.07
3.30 '3.68
.38
.37
'.55
.48
'.86
.82
2.36 '2.36
1.58
1.36
3.33 ' 3. 52

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
25.60
13.15
12.45
1.40
1.75
3.30
8.25
5.35
12.35

60.10
26.80
13.85
12.95
1.55
2.00
3.50
8.30
5.50
12.45

61.25 ' 62. 80 'i 62. 60 2 62. 25
27.70
27.55 ' 27. 75 '27.60
14.35 ' 14. 50 ' 14. 45 14.25
13.45
13.20 ' 13. 25 13.15
1.45
1.55
1.50
1.45
1.35
1.85 '2.35 '1.65
3.95
3.40 '3.50 '3.50
9.30
9.50
8.55 '8.50
5.95
5.60
12.85 r 13. 30 '3 19. 10 3 18. 20

613.8 P 626.9
438.3 447.5
396.7
405.0
318.0
323.9
15.0
15.8
65.2
63.7
41.5
42.5
57.3
57.5
41.9
42.3
15.4
15.2
18.9
19.1
P81.9

i 13. 83 2 15. 84
'6.06
7.00
'3.16
3.60
2.89
3.39
.35
.40
'.38
.37
'.78
1.13
'1.84
2.40
'3 4. 42

3 4.55

' 10, 480 *• 10, 558 ' 10, 943 plO, 929
7,154
7,098 ' 7, 426 P 7, 502
P235
198
215
260
' 1, 532 ' 1, 575 ' 1, 585 p 1, 488
1,596 ' 1, 625 ' 1, 717 p 1,704
--8, 898 -9, 175 '-9, 737 p-9, 80
'-5,980 '-6, 220 r-6,639 p-6, 66
-899 ' -934 p-962
-436
' -437 ' -510 p -485
'-1,628 --1,619 '-1,654 p-1, 68

9,537 8,776 10, 136 10, 016
6,826
5,625 6,798
6,660
229
199
201
200
1,470
1, 616
1,561
1,253
1,521
1,493
1,423
1,390
-7, 390 -7,164 -8, 087 -8,245
-4, 901 -4, 656 -5,481 -5, 595
-745
-701
-664
-683
-411
-404
-372
-373
-1,494
-1,434 -1,471 -1,501

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

-719

-645

-852

' -736 ' -698 p-621

-827

-912

-928

-1,094 ' -748 p 1, 141

-268

-471

-671

-662

-2, 189 -1,605

-618
-151

-367
842

-768
-346
-469
68

271

41

1,842
1,532
310
-360

180
-145
325
0

-425
-294
-131
-109

-697

226

-341
424

' -452 ' -376 p-312
68

312
••409 ' 1, 026
61
^120
'54
251
289
'972
-80 ' -294 '-195

242
493
<261
-240

-1,381

'

-534

-332

' -544

82

-6

'361 P 1, 228
P564
'118
p664
'243
'173 p -273

' -122 ' -200 p -558

I
232 -1,158 '-234 ' -203 1 '952 p -244
239
-845
-618
tSe e corresponding n ote on p. S-l.
nventory valuatk>n adjust rnent.
9Iiicludes i
0F ersonal outlays cComprise personal consum ption ex penditur es, inter 3St paid by consume rs, and p ersonal t ransfer p ayments to foreig tiers,
§Pe rsonal sa ving is e xcess of clisposabl(j income over per sonal out lays.
<?*4 ore com plete del ails are jiven in ihe quar ;erly rev cws in tl^ie Mar. June, Sept., and
« Correct ed.
Dec. issues of the SUR VEY.

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