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SUEVEY OF CUEEENT BUSINESS

September 1967

NATIONAL INCOME AND PRODUCT TABLES

1965

1966

II

1966

1967

1966
III

I

II

IV

1965

II

1966

1967
III

IV

Seasonally adjusted at annual rates

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)
683.9

743.3

725.9

736.7

748.8

762.1

766.3

775.1

616.7

652.6

645.4

649.3

654.8

661.1

660.7

664.7

433.1

Gross national product

465.9

458.2

461.6

470.1

473.8

480.2

489.7

398.4

418.0

416.2

415.2

420.4

420.4

424.2

430.6

66.0
191.2
175.9

70.3
207.5
188.1

71.6
203.2
183.5

68.2
207.1
186.3

70.9
209.5
189.8

70.6
210.3
192.9

69.4
214.2
196.6

72.5
217.2
200.0

66.4
178.9
153.2

71.3
187.7
159.1

73.0
185.8
157.3

69.3
187.7
158.2

71.9
188.8
159.8

71.1
188.4
160.9

69.7
191.8
162.6

72.9
193.6
164.1

__

107.4

118.0

115.2

118.5

116.4

122.2

110.4

105.1

98.0

105.6

104.0

106.5

103.6

108.4

96.9

91.3

_ _

98.0

104.6

105.3

104.5

104.9

103.7

103.3

104.6

89.1

93.0

94.5

93.1

93.0

91.2

90.2

90.9

71.1
25.1
46 0

80.2
27.9
52 3

78 3
28.3
50 0

78 7
27.5
51 2

81.2
28.2
53 1

82.8
27.7
55 1

81.9
27.7
54.2

81.5
26.3
55.2

66.0
21.9
44.1

72.8
23.6
49.2

71.8
24.2
47.5

71.7
23.4
48.3

73.6
23.7
49.9

74.2
23.0
51.2

73.0
22.9
50.1

72.6
21.7
51.0

27.0
26 4
5

24.4
23 8
5

27.0
26 5
.5

25.8
25 3
.5

23.7
23 2
.5

20.9
20 4
.5

21.4
20.9
.6

23.1
22.5
.6

23.2
22.7
.5

20.2
19.7
.5

22.8
22.3
.5

21.4
21.0
.5

19.4
19.0
.5

17.0
16.5
.5

17.3
16.8
.5

18.3
17.8
.5

9 4
8 4
10

13 4
13 7
3

99
96
3

14 0
14 4
3

11 4
12.0
5

18 5
19.0
5

7.1
7.3
2

.5
.6
_ i

8.8
7.9
9

12.6
12.9
3

9.5
9.2
2

13.4
13.7
3

10.6
11.1
5

17.2
17.7
— 5

6.7
6.8
2

.4
.5
—.1

6 9

51

61

54

4.6

4.3

5.3

5.3

6.0

4.4

5.4

4.8

4.1

3.2

4.1

4.1

37.5
31.5

40.8
36.4

40.3
34.9

40.4
35.6

41.4
37.3

41.2
38.0

42.4
38.3

42.3
38.2

. -_

Personal consumption expenditures. .
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
Net exports of goods and services
Exports.
Imports.

_.

__

-._

-__

_ _ _ _ _ _ _ _ _

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

_

43 0
37.9

42 0
36.0

42 5
37.1

43.7
39.0

44.0
39.7

45.3
39.9

136 4

154 3

146 5

151 2

157 7

161 7

170.4

175.0

114.3

124.5

119.9

122.7

126.6

129.1

135.5

138.7

77 0
60 5
16 5

72 1
55 1
17 1

74 9
58 4
16 6

79.5
63 0
16 6

81.5
65 6
15 9

87.1
70 2
16.8

89.5
72 5
17.0

57.8

64.7

61.2

63.4

66.4

67.8

72.3

74.4

69.6

___

39 1
32.2

66 8
50 1
16 7

___

45.1
39.8

77.2

74.3

76.2

78.1

80.2

83.3

85.4

56.4

59.9

58.7

59.4

60.1

61.3

63.2

64.3

Table 2.— Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
683 9

743 3

725 9

736 7

748 8

762 1

766 3

775.1

616 7

652 6

645 4

649 3

654.8

661.1

660.7

664.7

674 5
9.4

729 9
13.4

716 0
9.9

722 6
14.0

737 4
11.4

743 6
18.5

759 2
7.1

774 6
.5

607 8
8.8

639 9
12.6

636 0
9.5

635 9
13.4

644 2
10.6

643.9
17.2

654.0
6.7

664.3
.4

346 6

379 6

369 5

375 7

381 8

391 7

388 1

392.1

330 0

353 7

347 9

351 0

354 7

361.1

356.6

359.5

337 2
9 4

366 2
13 4

359 6
99

361 7
14 0

370 3
11 4

373 2
18 5

380 9
71

391 6
5

321 2
88

341 0
12 6

338 5
95

337 6
13 4

344 1
10.6

343.9
17.2

349.9
6.7

359. 1
.4

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

139 5
132 8
6.7

154 6
144 7
9.9

150 5
143 2
7.4

151 4
141 6
9 7

155 7
145 8
99

161 1
148 3
12 8

153 9
150 5
3.4

155 5
156 0
—.6

136 3
129 8
6.5

150 0
140 6
9.3

147 5
140 5
7.0

147 3
138.0
9.3

150 8
141.6
9.2

154.2
142.3
11.9

146.6
143.6
3.0

148.3
148.9
-.6

N endurable goods
Final sales .
Change in business inventories

207 1
204 4
2 7

225 0
221 5
35

219 0
216 4
2 5

224 4
220 1
43

226 1
224 5
15

230 6
224 9
5 7

234 2
230 5
37

236 6
235 5
1i

193 7
191 4
2 3

203 7
200 4
33

200 4
198 0
2 4

203 7
199 7
41

203.9
202 5
14

206.9
201 6
5.3

210.0
206 3
3.6

211.2
210.2
1.0

262 9

287 2

276 6

307 8

222 3

235 2

229 7

233 5

237 9

239 8

242 7

244.4

79 9

291 6
75 5

303 1

76 5

283 5
77 4

296 9

74 4

73 5

75 2

75 2

64 4

63 7

67 8

64 7

62 2

60.2

61 3

60.8

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

Services
Structures

_

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
683 9

.__

Business
Nonfarm
Farm
Households and institutions

_
_

743 3

725 9

736 7

748 8

762 1

766 3

775 i

616 7

652 6

645 4

649 3

654 8

661 1

660 7

664.

616 1

Gross national product
Private

666 7

653 0

661 5

670 6

681 9

683 9

690 9

565 9

597 5

592 3

594 8

599 0

604 2

602 7

606.

593 4
569 8
23 6

642 4
617 6
24 8

629 4
603 3
26 0

637 6
612 8
24 8

646 2
621 6
24 6

656 9
633 0
23 9

658 7
635 1
23 6

665 3
641 9
23 3

547 8
524 2
23 6

578 9
556 4
22 4

574 0
550 8
23 2

576 3
554 4
22 0

580 2
558 0
22 2

585 1
562 7
22 4

583 6
559 9
23 7

586
563.
23
15

18 5

20 1

19 7

19 7

20 3

20 6

21 1

21 4

14 0

14 7

14 6

14 4

14 8

14 9

15 1

Rest of the world

4 2

4 2

39

4 2

41

4 4

41

4 2

41

4 0

38

41

4 0

43

4 0

4.

General government

67 8

76 6

72 9

75 i

78 2

80 2

82 5

84 2

50 8

55 o

53 1

54 4

55 g

56 9

57 9

58.




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

1965

1966

1964
II

III

IV

I

III

II

1967

1966

1965
| IV

I

| III

II

IV

I

II

Annual total
Seasonally adjusted quarterly totals at annual rates

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

632.4

683.9

743.3

628.0

638.9

645.1

662.7

675.4

690.0

708.4

725.9

736.7

748.8

762.1

766.3

775.1

401.2

433.1

465.9

397.6

406.6

408.9

420.2

428.1

436.4

447.8

458.2

461.6

470.1

473.8

480.2

489.7

59.2
25.8
25.0

66.0
29.9
27.0

70.3
29.8
29.9

59.6
26.0
25.2

60.7
26.9
25.1

58.7
24.6
25.6

65.2
30.4
25.8

64.2
29 2
26.1

66.1
29.8
27.3

68.6
30.3
28.9

71.6
31.4
29.4

68.2
28.5
29.1

70.9
29.8
30.6

70.6
29.6
30.6

69.4
27.3
31.4

72.5
29.7
31.9

do
do
do
do _

178.7
33.5
92.9
14.0

191.2
36.1
99.0
15.1

207.5
40 3
106.7
16.2

175.9
32.6
92.0
13.9

181.3
34.2
94.0
14.1

182.9
34. 5
95.1
14.3

184.6
34.6
95.6
14.3

189.8
35.6
98.3
15.1

192.4
36.2
99.4
15.3

198.0
37.8
102.5
15.7

203.2
39.5
105.2
15.8

207.1
39.8
107.0
16.2

209.5
41.0
107.3
16.3

210.3
40.8
107.2
16.6

214.2
41.5
109.3
17.1

217. 2
43.2
110.1
17.5

do
_ __do_ _
do
do _

-

163.3
24.3
59.3
11.6

175.9
25.7
63.6
12.6

188.1
27.0
67 1
13.6

162.1
24.3
58.8
11.5

164.6
24.5
59.8
11.7

167.3
24.5
60.8
11.8

170.4
24.7
61.9
12.0

174.2
25.5
63 2
12.5

177.8
26.1
64.2
12.8

181.2
26.5
65.3
13.1

183.5
26.1
66.2
13.2

186.3
26.9
66.5
13.5

189.8
27.4
67.4
13.7

192.9
27.7
68.5
14.0

196.6
27.8
69.6
14.4

200.0
28.1
70.6
14.6

- - bil. $

Personal consumption expenditures, total

do

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

_ _ _

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

94.0

107.4

•118 0

93.4

94.2

97.9

105.1

105 1

108.2

112.3

115.2

118.5

116.4

122.2

110.4

105.1

88.2
61. 1
21.2
39.9
27. 1
26.6
58
6 4

98.0
71.1
25. 1
46.0
27.0
26.4
9 4
8.4

104. 6
80 2
27.9
52.3
24 4
23.8
13 4
13 7

87.2
60. 1
21.1
39.0
27. 1
26.6
6 1
7.0

89.4
62.4
21.4
41.0
27.0
26.5
4 8
5.6

90.2
63.4
21.8
41.6
26.8
26.3
7 7
8.1

94.4
67.3
23.1
44.1
27.2
26.6
10 6
10.1

96.3
69 3
24.7
44.6
27.0
26.5
88
7.9

98.8
71.9
25.1
46.8
26.9
26.4
9 4
7.9

102.4
75.7
27.3
48.3
26.8
26.2
9.9
8.7

105.3
78.3
28.3
50.0
27.0
26.5
9.9
9.6

104.5
78.7
27.5
51.2
25.8
25.3
14.0
14.4

104.9
81.2
28.2
53.1
23.7
23.2
11.4
12.0

103.7
82.8
27.7
55.1
20.9
20.4
18.5
19.0

103.3
81.9
27.7
54.2
21.4
20.9
7.1
7.3

104.6
81.5
26.3
55.2
23.1
22.5
.5
.6

8.5
37.1
28.6

6.9
39.1
32.2

5.1
43.0
37.9

7.8
36.1
28.3

8.7
37.5
28.8

8.5
38.3
29.8

6.1
35.1
28.9

8.2
40.7
32.6

7.4
40.3
32.9

6.1
40.5
34 4

6.1
42.0
36.0

5.4
42.5
37.1

4.6
43.7
39.0

4.3
44.0
39.7

5.3
45.3
39.9

5.3
45.1
39.8

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

128.7
65 2
50 0
63. 5

136.4
66 8
50. 1
69.6

154.3
77 0
60 5
77.2

129.2
66 0
50 7
63.2

129.4
65 2
49 8
64.3

129.8
64 5
48 9
65.3

131.3
64 3
48.4
66.9

133.9
65 4
49 2
68.6

138.1
67 6
50 3
70.4

142.3
69 8
52 4
72 5

146.5
72 1
55. 1
74.3

151.2
74 9
58.4
76. 2

157.7
79.5
63.0
78.1

161.7
81.5
65.6
80.2

170.4
87.1
70.2
83.3

175.0
89.5
72.5
85.4

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

do
do
do
do
do
do

626 6
313 6
122.8
190 7
944 2

674 5
337 2
132.8
204 4
74 4

729 9
366 2
144.7
221 9
5
9
87
76 5

621 9
310 7
122.7
188 0
°42 4
68 8

634 1
318 5
124.9
193 5
246 5
69 2

637 4
317 9
123.3
194 7
250 1
69 3

652 0
325 9
129.6
196 3
254 6
71 6

666 5
332 8
130.0
202 9
260 1
73 6

680 6
340 2
133. 9
206 3
266 0
74 4

698 5
349 9
137.9
212 0
271 0
77 6

716
359
143.
9
16
276
79

0
6
2
4
6
9

722 6
361 7
141.6
220 1
9
83 5
77 4

737 4
370 3
145.8
224 5
2Q1 6
75 5

743.6
373 2
148.3
224. 9
296 9
73.5

759.2
380 9
150.5
230.5
303 1
75.2

774.6
391.6
156.0
235.5
307.8
75.2

do
do
do

5.8
4 2
16

9.4
6 7
2 7

13.4
99
35

6.1
4 5
16

4.8
4 2
6

7.7
4 5
32

10.6
8 7
2 0

8.8
7 o

i"s

9.4
7i
9' g

9.9
50
4 9

9.9
7 4
9 5

14.0
9 7
4 3

11.4
99
15

18.5
12.8
57

7.1
3.4
37

.5
-.6
1.1

581.1

616.7

652.6

578.6

585.8

588.5

601.5

609.7

620.7

634.4

645.4

649.3

654.8

661.1

660.7

664.7

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
_ _do_
do
do
__

-

_

Change in business inventories
Durable goods
Nondurable goods

-do
do
do.

es's

2Q9 9

GNP in constant (1958) dollars
Gross national product, totalf

bil. $._

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

373.7

398.4

418.0

370.7

378.6

379.3

389.1

394.1

400.7

409.9

416.2

415.2

420.4

420.4

424.2

430.6

do
do
do

59 0
170 3
144 4

66 4
178 9
153 2

71 3
187 7
159 1

59 3
167 8
143 6

60 4
172 8
145 3

58 7
173 5
147 1

65 0
174 7
149 4

64 1
178 0
152 0

66 8
179 3
154 6

69 5
183 6
156 8

73 0
185 8
157 3

69 3
187 7
158 2

71 9
188 8
159 8

71 1
188.4
160.9

69 7
191.8
162.6

72.9
193.6
164.1

101 6

104 0

106 5

103.6

108.4

96.9

91.3

92 4
69 7

94
71
22
9

93
71
21
13

93 0
73 6
19 4
10 6

91 2
74 2
17.0
17.2

90 2
73.0
17.3
6.7

90.9
72.6
18.3
.4

do

87.8

98.0

105 6

87.3

87.6

90 8

95 9

95 9

98 3

do
do
do
_ _do

81 9
57 8
24 2
58

89 1
66 0
23 2
88

93
72
20
12

0
8
2
6

81 2

57' o

24 3
61

82 8
58 9
23 9
4 8

83 2
59* 7
23 5
76

86
62
23
9

87
64
23
8

89
66
23
8

do

8.3

6.0

4.4

8.0

8.4

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

111.2
114.3
124.5
112.6
111.2
58 1
57 8
59 3
64 7
57 8
56^4
53.2
59.9
53. 3
53^5
r
Revised.
* Preliminary.
fRevised series. Estimates of national income and
product and personal income have been revised (see p. 13 ff. of the July 1967 SURVEY for
data beginning 1964; for data prior to 1963, see p. 11 ff. of the July 1966 SURVEY); revisions




6
9
7
3

9
5
4
0

6
7
0
7

29 Q

9 2

5
8
8
5

1
7
4
4

4.1
4.1
3.2
4.1
5.4
4.8
5.6
138.7
135.5
129.1
126.6
110.5
119.9
122.7
112.9
115.3
117.4
111.3
74.4
72 3
67 8
66 4
61 2
63 4
56 3
58 5
56 7
57 1
59 3
64.3
53.8
55.0
55! 8
56.7
58^0
58^7
59l 4
eo!i 61.3 63.2
prior to May 1966 for personal income appear on p. 21 of the July 1967 SURVEY and those
for periods prior to 1963 on p. 18 ff. of the July 1966 SURVEY.
9 Includes data not shown
separately.
7.9

5.2

6.8

6.4

September 196

SURVEY OF CURRENT BUSINESS

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

1964

1965

1966

Annual total

IV

I

III

II

1967

1966

1965

1964

IV

I

rv

III

II

II

I

III

IV

GENERAL BUSINESS INDICATORS— Quarterly Series— Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income total t
foil
$
Compensation of employees, total
do
Wages and salaries, total
do
Private
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
bil $
By broad industry groups:
Financial institutions ._ _
.
do
Nonfinancial corporations, total
_ do __
Manufacturing, total
do
Nondurable 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 _ _ . d o
Net interest
do ._
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
__.bil. $._
Less: Personal tax and nontax payments
do
Equals: Disposable personal income
. do
Less' Personal outlays©
do
Equals: Personal saving§
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
.
bil. $
Manufacturing
: _ ___
do
Durable goods industries. .
do _.
Nondurable goods industries
do
Mining
_. .
do
Railroad do
Transportation, other than rail_
do __
Public utilities
do
Commercial and other _
do
Seas. adj. qtrly. totals at annual rates:
All industries
_. do
Manufacturing
do
Durable goods industries
do
Nondurable goods industries
do
Mining
do
Railroad
do
Transportation, other than rail
do
Public utilities
.
do
Communication
do
Commercial and other
do
U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"
Quarterly Data Are Seasonally Adjusted
(Credits -f; debits -)
Exports of goods and services (excl. transfers under
militarv grants)
mil $
Merchandise, adjusted, excl. military
do
Military sales.
do
Income on U.S. investments abroad .
do
Other services...
do

562.4
393.9
359.1
289.8
12.1
57.1
34.9
56.7
41.9
14.8
19.0

616.7
435.7
394.6
316.7
14.7
63.2
41.1
59.3
43.2
16.1
19.4

530.4
375.8
342.7
276.5
11.9
54.3
33.1
53.3
40.6
12.6
18.4

544.9
381.5
347.7
280.8
11.8
55.1
33.8
55.0
41.4
13.6
18.6

555.3
388.6
354.2
286.2
11.7
56.3
34.5
56.7
41.7
15.0
18.9

566.5
397.2
362.0
292.1
12.1
57.8
35.2
57.2
42.0
15.2
19.1

582.8
408.4
372.4
300.0
13.1
59.4
36.0
57.8
42.5
15.3
19.2

600.3
420.8
381.3
306.9
13.6
60.7
39.5
60.0
42.8
17.1
19.2

610.4
430.7
390.2
313.8
14.2
62.2
40.5
59.3
43.3
16.0
19.3

622.1
441.2
399.6
320.1
15.1
64.3
41.6
59.2
43.3
15.9
19.4

634.1
450.2
407.4
326.1
15.8
65.6
42.7
58.6
43.4
15.1
19.6

66.3

74.9

82.2

66.4

72.6

73.4

74.9

78.7

81.1

81.3

81.9

84.6

78.1

r

9.6
68.5
39.6
18.4
21.1

:9.5
'68.8
38.9
17.8
21.1

78.3

7.9
58.4
32.7
14.9
17.8

8.4
66.5
38.7
16.5
22.2

9.3
72.9
43.1
18.7
24.4

8.0
58.5
32.4
15.3
17.2

8.2
64.4
37.5
15.9
21.6

8.4
65.0
37.7
16.0
21.6

8.4
66.5
38.6
16.5
22.1

8.6
70.0
41.0
17.4
23.7

8.9
72.2
42.7
18.3
24.3

9.0
72.2
42.5
18.5
24.0

9.5
72.4
42.7
18.8
23.9

9.6
75.0
44.4
19.2
25.3

10.1
15.5
66.8
28.3
38.4
17.8
20.6
-.5
15.8

11.2
16.6
76.6
31.4
45.2
19.8
25.4
-1.7
17.9

11.9
18.0
83.8
34.5
49.3
21.5
27.8
-1.6
20.2

10.3
15.7
67.4
28.6
38.8
18.3
20.5
-1.0
16.6

10.6
16.3
74.0
30.3
43.7
18.7
25.0
-1.4
17.1

10.9
16.5
75.6
30.9
44.6
19.4
25.2
-2.1
17.6

11.2
16.7
75.8
31.1
44.8
20.2
24.6
-.9
18.2

12.0
17.0
80.8
33.1
47.7
20.9
26.8
—2 2
18.8

11.7
17.8
83.7
34.5
49.2
21.4
27.8
-2.6
19.3

12.0
17.8
83.6
34.5
49.2
21.6
27.6
-2.3
19.8

11.8
17.9
84.0
34.6
49.4
21.6
27.8
-2.2
20.4

12.0
18.6
83.9
34.6
49.3
21.2
28.2
.7
21.1

11.7
17.3
79.0
32.5
46.5
22.2
24.2
-.8
21.6

11.9
18.0
'78.9
' 3? 5
'46.5
23.1

497.5
59.4
438.1
411.9
26.2

537.8
65.6
472.2
445.0
27.2

584.0
75.2
508.8
479.0
29.8

510.5
60.9
449.6
420.1
29.5

520.3
64.3
456.0
431.6
24.5

530.1
66.1
464.0
439.9
24.0

544.6
65.2
479.4
448.5
30.9

556.1
66.7
489.4
460.1
29.3

567.8
70.4
497.5
470.9
26.6

577.3
74.1
503.3
474.6
28.7

589.3
76.9
512.4
483.2
29.2

601.6
79.6
522.0
487.4
34.6

612.9
80.2
532.7
493.9
38.8

619.1
79.1
540.0
504.0
36.0

44.90
18.58
9.43
9.16
1.19
1.41
2.38
6.22
4.30
10.83

51.96
22.45
11.40
11. 05
1.30
1.73
2.81
6.94
4.94
11.79

60.63
26.99
13.99
13.00
1.47
1.9S
3.44
8.41
5.62
12.74

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
6.84
3.54
3.30
.37
.48
.82
2.36
1.36
3.33

17.00
7.75
4.07
3.68
.38
.55
.86
2.36
1.58
3.52

13.59
6.10
3.08
3.02
.32
.41
.70
1.84
1.35
2.87

' 15. 61
'6.81
'3.46
'3.34
'.34
'.41
'1.12
'2.46
1.49
'2.99 '

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
27.55
14.35
13.20
1.45
1.85
3.40
8.55
5.60
12.85

62.80
27.75
14.50
13.25
1.45
2.35
3.50
8.50
5.95
13.30

61.65
27.85
14.20
13.70
1.40
1.80
3.05
9.20
5.75
12.55

'
'
'
'

8,768 10, 180
5,628
6,880
192
210
1,562
1,499
1,431
1,546
-7, 232 -8, 139
-4, 669 -5, 475
-711
-671
-424
-401
-1, 491 -1, 529

10, 080
6,811
230
1,474
1,565
-8, 233
-5, 556
-754
-435
-1, 488

10,119
6,925
212
1,353
1,629
-8, 599
-5, 772
-785
-469
-1, 573

10,511 10, 618
7,203
7,181
222
209
1,469
1,535
1,630
1,680
-8,997 -9, 265
-6, 025 -6, 225
-861
-911
-471
-475
-1, 636 -1,658

10,913
7,382
206
1,587
1,738
-9, 762
-6, 580
-953
-565
-1, 664

10, 997
7,402
210
1,654
1,731
-9, 913
-6,680
-969
-563
-1, 701

'11,383 pll,338
' 7, 691 p 7, 723
p 334
'339
' 1, 585 p 1, 550
' 1, 768 p 1, 731
'-10,034 p-10,038
'-6,692 p-6,587
'-1,045 p-1,052
'-557 p -545
'-1,740 p-1,854

-725

-660

-851

-733

-709

-632

'-728 p -787

-885
944

-812

-981

-1, 135

-932

-445

-365

-500

-328

37, 099 39, 147
25, 297 26,244
747
844
5,389
5,888
5,666
6,171
-28, 637 -32 203
-18,621 -21,472
—2 861 -2 921
-1,455 -1, 729
-5,700 -6,081

43, 039
29,168
847
6,245
6,779
-37, 937
-25, 510
-3, 694
-2,074
-6,659

9,565
6,587
198
1,322
1,458
-7, 440
-4,907
-691
-380
-1, 462

Merchandise, adjusted, excl. military
do
Military expenditures. _
__
do .
Income on foreign investments in the U.S-.do
Other services
do
Unilateral transfers, net (excl. military grants);
transfers to foreigners ( — )
mil $
-664
-2, 782 -2, 824 -2,925
-680
Transactions in U.S. private assets, net; increase
(— )
mil $
-6,542 -3, 743 '-4,213 -2, 104 -1,657
Transactions in U.S. Govt. assets, excl. official
reserve assets; increase (— )
mil. $._ -1,674 -1,575 -1,531
-396
-579
Transactions in U.S. official reserve assets, net;
increase ( — )
mil $
842
171
1,222
-151
568
Transactions in foreign assets in the U.S., net (U.S.
liabilities); increase (+)_
mil. $
3,314
1,724
286
3,301
391
Liquid assets
do
-24
1,485
789
2,629
113
Other assets _
do
2,512
239
310
685
278
Unrecorded transactions
do
53
-335
-949
-415 '-302
Balance on liquidity basis—increase in U.S. official
reserve assets and decrease in liquid liabilities to
all foreigners' decrease ( )
mil $
-818
-2,800 -1, 335 -1,357 -1, 334
Balance on official reserve transactions basis— increase in U.S. official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
official agencies" decrease ( )
mil $
-834
-618
-1,548 -1,304
225
r
Revised.
v Preliminary,
i Estimates for July-Sept. 1967 based on anticipate d capital expendit ures of bu siness.
2
Estimates for Oct.-Dec. 1967 based on anticii>ated cap ital expe nditures of busin ess.
Anticipated expenditures for the year 1967 are as folk>ws (in bil .$): A lin-idustries, 62.03; ma nufacturing, total, 27.31; durable goods industries, 14 10; nondio-able g()ods indu stries, 13 .21;
mining, 1.48; railroad, 1.57; transnortation, 3.92; pul3lic utiliti es, 9.41; commerci al and ol her
(incl. communication), 18.34.
» includes commuE ication.




636.4 '641.6
463.4
459.1
414.7
418.3
331.4
333.2
16.2
16.1
68.9
67.3
45.2
44.4
57.8
57.8
43.4
43.2
14.3
14.6
20.0
19.8

518.1
365.7
333.7
269.4
11.7
52.6
32.0
52.3
40.2
12.1
18.0

-775
-389
-490

r 23 4

-.7
22.1

U5. 77 2 17. 06
7.69
'6.72
4.12
'3.44
3.57
'3.28
.42
'.39
.37
'.37
1.06
'1.05
2.51
'2.61
3 4. 63 35.01

61. 50'162.50 2 62. 65
27. 00 ' 27. 10 27.35
14.50
13. 75 ' 13. 95
13. 25 ' 13. 15 12.90
'1.30 '1.55
1.60
1.45
'1.55 '1.45
'3.90 '4.40
4.35
9.10
'9.70 '9 65
5.80
' 12. 25 '318.30 3 18. 70

'-1,165 '-958 p-1,130
-338

'-741 p -534

-6 ' 1, 027 p -419

68

41

271

424

68

82

-342
-267
-75
-113

211
416
-205
-245

236
-12
248
-110

492
227
265
-233

1,145
54
1,091
-198

459
83
376
277

1,205
425
780
'-148

'335 p 2, 222
*931
'-489
'824 p 1,291
'-284 p -652

-457

-259

-651

-122

-165

-419

'-538 p -512

199

-18 ' -1,827 p -814
861
-443
-175
-916
207
239
tSecj corresp ending m)te on p. S-1.
9Iricludes haventory valuatio n adjustinent.
ersonal (mtlays comprise personal consum ption ex]Denditunjs, intere st paid by consumei•s, and p ersonal ti ansfer pslyments to foreigrlers.
§Pe rsonal sa ving is ejfcess of d isposable income over pers onal out ays.
d"]V .ore com plete det ails are given in t he quarl erly revi ews in tl ie Mar., June, Sept., and
Dec. i ssues of ' he SUEV EY; quart,erly revi sions bac k to 1960 are on p 22 if o f t bis issue.

ep

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