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SURVEY OF CURRENT BUSINESS June 1967 NATIONAL INCOME AND PRODUCT TABLES 1965 1964 1966 1965 1967 1966 I IV III II 1965 I IV 1964 1965 1966 1966 I IV Seasonally adjusted at annual rates II 1967 III IV I 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- _ _ _ Personal consumption expenditures. _ Dura ole goods Nondurable goods Services 631.7 681.2 739.6 704.4 721.2 732.3 745.3 759.3 763.7 580.0 614.4 647.8 631.2 640.5 643.5 649.9 657.2 656.7 401.4 431.5 464.9 445.2 455.6 460.1 469.9 474.1 479.9 373.8 396.2 415.5 406.5 412.8 412.2 418.3 418.5 422.0 59.4 178.9 163.1 66. 1 190.6 174.8 69.3 206.2 189.4 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 68.4 212.5 199.1 59.1 170.5 144.2 66.4 178.2 151.6 70.7 186. 0 158.7 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 69.6 190.1 162.3 104.7 102.2 117.0 111.9 114.5 118.5 115.0 120.0 109.3 86.5 97.8 103.5 106.3 102.5 106.4 95.7 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 —.3 101.5 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 -1.2 103.7 81.6 28.7 52.9 22.1 21.5 .6 5.6 6.0 — .4 81.9 57.4 18.9 38.5 24.6 24.0 .5 4.6 5.2 -.6 89.0 64.9 21.7 43.2 24.1 23.6 .5 8.8 8.0 .9 93.6 72.1 23.4 48.7 21.5 21.0 .5 11.1 11.4 -.3 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 90.5 72.6 23.7 48.9 17.9 17.4 .5 5.2 5.6 -.4 8.5 37.0 28.5 7.0 39.0 32.0 4.8 42.7 37.9 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 5.4 45.6 40.2 8.5 36.4 28.0 6.3 37.3 31.0 4.7 41.1 36.4 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 5.3 43.9 38.6 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 76.2 141.2 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 79 62 17 77 2 0 0 0 2 161.1 81.7 65.5 16.2 79.4 169.1 87.0 69 7 17.2 82.1 111.3 57.8 114.1 57.8 123.2 64.0 116.6 59.3 118.3 60.4 120.4 61.9 124.9 65.5 128.3 67.6 133.6 71.6 53.4 56.3 59.1 57.3 57.9 58.5 59.4 60.7 62.0 Addendum: Implicit price deflator for seasonally adjusted GNP, 1958 = 100 108.9 110.9 114.2 111.6 112.6 113.8 114.7 115.5 116.3 93.0 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 _ _ __ . _ 106.6 Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5) Gross national product Final sales Change in business inventories 631.7 681.2 739.6 704.4 721.2 732.3 745 3 759.3 763.7 580.0 614.4 647.8 631.2 640.5 643.5 649.9 657. 2 656.7 627 0 4.7 672. 1 9.1 727.7 11.9 694.0 10.4 712 3 89 720 0 12 3 735 4 99 742.9 16.4 758.1 5.6 575.4 4.6 605 6 8.8 636.7 11.1 621.0 10.2 632.0 8.5 631.9 11.6 640 8 9. 1 642.0 15.2 651.5 5.2 318.2 344.7 377.2 358.8 366.0 371.6 379 6 390.7 385.1 307.2 328.5 351.5 341.0 344.7 346.7 352.8 360.9 355.2 Final sales Change in business inventories 313 6 4 7 335 7 9. 1 365.3 11.9 348 4 10 4 357 0 89 359 3 12 3 369 7 9 9 374.2 16.4 379.5 5.6 302 6 4 6 319 7 340.4 11.1 88 330 7 10 2 336 2 8.5 335.1 11.6 343 7 9 1 345.7 15.2 350.0 5.2 Durable goods Final sales Change in business inventories 125 5 122.2 3.3 138 5 132 2 6.3 154 9 145.9 9.0 142 6 137 9 4.7 147 6 141 8 5.8 149 6 140 6 9.0 158 1 148 7 9 5 163 6 151.7 11.9 153 4 151.4 1.9 123 1 119 9 3.2 135 5 129 4 6.1 150 8 142.4 8.4 140 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 10.9 147.5 145.8 1.7 Nondurable goods. . _ _ Final sales Change in business inventories _- 192.7 191 3 1.4 206.3 203 5 2.7 222.4 219 5 2.9 216.2 210 5 5.7 218.4 215 2 3.1 222.0 218 7 3.3 221 4 221 0 5 227.1 222 5 4.6 231.7 228 1 3.7 184.1 182 7 1.4 193.0 190 3 2.7 200.8 198 0 2.7 200.6 195 1 5.6 199.4 196 3 3.0 200.8 197 6 3.2 199.0 198 6 .4 203.5 199.2 4.3 207.7 204.2 3.6 244.5 262.0 285.9 268 8 275 5 282 1 289 9 296.2 304.2 211 2 221 1 232.4 224.0 227.7 230.9 234 4 236.6 240.5 68.9 74.5 76.6 76.9 79.8 78 6 75 § 72.5 74.5 61.7 64.8 64.1 66.2 68.0 66.0 62.8 59.8 61.0 25.8 31.4 29.4 30.5 31.5 28.6 27 9 29.4 24.9 25.4 31.4 29.9 30.7 32.2 29.1 28.5 29.7 25.5 Goods output Services. _ _ Structures _ _ _ _ _ ______ Addendum: Gross auto product __ 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 2 739.6 704 4 721 2 732 3 568 7 613 4 663 4 633 8 648 4 657 6 547 527 20 17 4 590 567 23 18 4 8 1 8 3 3 639 5 614 7 24 8 19.5 4 4 611 586 24 19 3 624 599 25 19 4 67 8 76 2 4 0 4 3 0 63 0 2 6 7 1 4 70 6 9 3 7 1 4 72 § 634 609 25 19 4 0 0 0 1 5 74 7 745 3 759 3 763 7 580 0 667 7 679 4 681 2 530 8 643 619 24 19 4 5 1 4 7 6 655 3 631 0 24 3 20 0 41 77 6 79 9 657 633 24 20 3 0 0 0 4 9 513 3 491 2 22 0 13 6 39 82 5 49 2 614 4 647 8 631 2 640 5 643 5 649 9 657.2 656.7 563 5 593 6 579 4 588 0 589 9 595 1 601.5 599.9 545 ^21 23 14 4 574 552 22 14 4 569 546 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 4.0 581.3 557.1 24 1 14.8 3.8 54 8 55.8 56.8 4 7 8 0 1 50 9 9 3 6 4 3 54 2 561 537 24 14 3 6 5 1 5 3 51 8 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 1965 1966 1964 I Annual total II 1966 1965 III IV I II III IV I II 1967 III IV I Seasonally adjusted quarterly totals at annual rates GENERAL BUSINESS INDICATORS—Quarterly Series NATIONAL INCOME AND PRODUCTf Gross national product totalf 631.7 681 2 739.6 616 8 627 7 637 9 644 2 660 8 672 9 686 5 704 4 721 2 732 3 745 3 759 3 763.7 401.4 431.5 464.9 391.1 398.0 407.5 408.8 418.9 426.8 435.0 445.2 455.6 460 1 469.9 474.1 479.9 59.4 25 8 25.1 66.1 29 8 27.1 69.3 30 0 30.1 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 68.4 27 9 31.1 do do __do_ __ do 178.9 33.6 92.8 14 1 190 6 35.9 98.4 15 1 206.2 40.3 104.8 16 1 174 32 90 13 9 8 7 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 39 104 16 6 7 8 1 208.1 41.1 105.5 16 1 209 40 105 16 2 8 4 6 212.5 41.6 106.9 17 0 do -do do. __ do 163.1 24.3 59.2 11 8 174.8 25 6 63.2 12 8 189.4 27.2 67.7 14 0 158 23 57 11 7 8 7 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 27 67 13 4 1 1 9 191.5 27.6 68.2 14 2 195 27 69 14 3 7 5 5 199.1 27.8 70.6 14 9 bil $ Personal consumption expenditures, total ._ do _ Durable goods, total 9 __ _ Automobiles and parts Furniture and household equipment Nondurable goods, total 9 Clothing and shoes Food and beverages.. Gasoline and oil _ Services, total 9 Household operation Housing _ _ Transportation _ Gross private domestic investment, total do do do do 93 0 106 6 117 0 90 2 91 8 92 5 97 4 103 8 103 7 106 7 111 9 114 5 118 5 115 0 120 0 109 3 Fixed investment do Nonresidential do Structures _ _ - do Producers' durable equipment do Residential structures . do Nonfarm _. do. _ Change in business inventories do Nonfarm __ _ _ _ _ _ . _do 88 3 60 7 21.0 39.7 27 6 27.0 4 7 105 1 79 3 27 8 51.4 25 8 25 3 11 9 12 2 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 51 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 76 6 7 98 0 70 2 24 4 45.8 27 8 27 3 87 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 89 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 5.3 97 5 69 7 24.9 44.8 27 8 27.2 9 1 81 103 5 81 6 27 3 54.4 21 9 21 3 16 4 17 6 103 7 81 6 28.7 52.9 22.1 21.5 5 6 Net exports of goods and services . do Exports _ _ _ - _ _ _ _ _do_ _ Imports do 85 37.0 28 5 7 0 39 0 32 0 4 g 42 7 37 9 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 o 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 45.6 40.2 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 2 126.5 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 4 169.1 87.0 69 7 82.1 By major type of product:! 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 9 672 335 132 203 262 74 727 365 145 219 285 76 7 3 9 5 9 6 613 3 307 1 119 6 187 5 237 3 68 8 623 311 122 189 242 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 8 74 3 677 8 338 8 134 3 204 4 265 1 73 9 694 348 137 210 268 76 0 4 9 5 8 9 712 3 357 0 141 8 215 2 275 5 79 8 720 359 140 218 282 78 735 369 148 221 289 75 742 374 151 222 296 72 9 2 7 5 2 5 758 1 379 5 151.4 228 1 304.2 74 5 do do do 4.7 33 1 4 9.1 6 3 2 7 11.9 9 0 2 9 3.5 2 3 12 4.2 36 3.6 2 8 7.4 4 4 29 9.5 7 4 2 1 7.6 6 4 8.7 6 7 21 10.4 4 7 5 7 8.9 58 31 5 16.4 11 9 4 6 3.7 _ ___ _ Change in business inventories Durable goods Nondurable goods ___ _ _ 1 7 2 5 0 5 5 g 8 9 0 0 1 8 12 0 3 6 7 1 6 12.3 9 0 33 9.9 10.4 4 7 7 0 9 8 9.9 9 5 6.0 5.4 5.6 19 GNP in constant (1958) dollars 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 Net exports of goods and services bil. $_. 580.0 614.4 647.8 569.7 578.1 585.0 587.2 600.3 607.8 618.2 631.2 640.5 643.5 649.9 657.2 656.7 do 373.8 396.2 415.5 365.7 371.0 379.5 378.9 387. 1 392.2 398.9 406.5 412.8 412.2 418.3 418.5 422.0 do do do 59 1 170 5 144 2 66 4 178 2 151 6 70 7 186 0 158 7 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 69.6 190.1 162.3 do 86.5 97.8 104.7 84.6 85.6 85.7 90.2 95.9 95.3 97.9 102.2 103.5 106.3 102.5 106.4 95.7 81 9 57 4 24.6 4.6 89 0 64 9 24.1 8.8 93 6 72 1 21.5 11.1 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 93 5 73.0 20.5 9.1 91 2 73.3 17.9 15.2 90.5 72.6 17.9 5.2 8.5 6.3 4.7 9.2 8.2 8.4 8.0 5.7 7.1 6.4 6.0 5.9 4.6 4.2 4.1 5.3 120.4 61 9 58.' 5 124. 9 65 5 59.4 128.3 67 6 60.7 133.6 71.6 62.0 do do do___ do do Govt. purchases of goods and services, total _do Federal do State and local _ do 111.3 57 g 53.4 114.1 57 8 5fi. 3 123.2 64 0 59! 1 110.3 58 2 52^0 113.3 59 7 53.' 6 ••Revised. * 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 111.3 57 4 sa! 9 110.1 56 1 54.' 0 111.5 56 2 55. 3 113.2 57 3 55! 9 115.0 58 3 56'. 7 116.6 59 3 57. 3 118.3 60 4 57.' 9 SURVEY); revisions prior to May 1965 for personal income appear on p. 18 f!. of the July 1966 issue of the SURVEY. 9 Includes data not shown separately. s-1 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 Annual total 1964 1966 III June 1966 1965 IV I II III IV I II 1967 III IV I II III GENERAL BUSINESS INDICATORS— Quarterly Series— Continued NATIONAL INCOME AND PRODUCT— Con. Quarterly Data Seasonally Adjusted at Annual Rates 604.1 626.7 613.8 630.8 577.8 562.7 595.7 610.1 528.5 543.3 552.2 559.0 522.9 517.3 National income totalf bil $ 427.9 438.3 447.5 456.1 387.8 395.6 406.5 419.6 433.3 369.8 375.3 Compensation of employees, total do 381.7 365.7 392.9 387.4 396.7 405.0 411.8 392.3 337.4 353.7 360.8 370.8 380.0 342.2 348.2 Wages and salaries, total do 333.6 358.4 311.5 318.0 328.4 323.9 298.5 305.9 285.8 291.1 281.2 314.8 Private do 269.3 289.1 272.3 275.9 14.1 15.0 16.3 15.8 12.0 13.0 13.6 11.7 14.6 11.9 11.8 Military do 11.7 12.1 11.7 61.8 63.7 65.2 67.1 60.4 59.3 57.7 55.2 56. 3 Government civilian do 62.8 53.4 54.3 52.6 57.1 40.5 41.5 42.5 44.3 34.1 35.7 39.6 34.8 33.5 Supplements to wages and salaries do 34.5 41.0 32.4 33.1 32.0 57.9 57.3 57.0 57.5 58.4 55.9 57.1 56.7 57.8 52.2 53.3 Proprietors' income, total 9 do 51.9 55.7 51.9 41.6 41.9 42.2 42.3 41.1 41.4 40.4 40.7 40.5 Business and professional 9 do 40.3 39.9 41.8 40.7 40.3 16.3 15.4 15.2 14.8 16.0 17.0 15.5 16.0 12.9 11.9 Farm do 12 0 16.0 15.1 11.7 18.8 18.9 19.1 19.3 18.3 18.4 18.5 18.7 17.9 18.1 Rental income of persons do 18.3 18.9 17.7 17.8 Corporate profits and inventory valuation adjust79.9 79.1 81.7 '76.7 80.0 76.9 72.7 74.0 73.2 74.2 66.8 80.2 67.8 ment, total bil. $ 66.6 By broad industry groups: 10.1 9.8 10.5 9.4 9.5 10.6 8.7 8.9 8.4 8.5 8.9 8.4 8.6 Financial institutions do 10.0 70.0 69.0 71.2 '66.1 67.5 64.0 70.6 65.0 64.6 58.2 65.3 58.1 Nonfinancial corporations, total _do 70.2 59.3 39.5 40.6 42.0 37.4 41.9 38.0 39.6 36.7 37.4 32.2 32.4 37.8 Manufacturing, total _do 33.0 41.0 17.0 17.2 17.6 16.4 17.2 16.9 15.5 15.5 15.5 14.7 15.7 14.5 14.6 Nondurable goods industries do 17.3 22.5 24.4 23.4 23.2 21.1 21.2 21.9 24.7 21.9 18.4 17.5 17.9 22.1 Durable goods industries do 23.8 Transportation, communication, and public 12.2 12.1 11.5 12.0 11.6 10.9 11.2 11.3 10.7 10.4 10.5 11.1 utilities bil $ 11.9 10.6 17.2 16.4 17.4 17.0 16.4 17.4 16.5 16.4 16.5 16.4 15.5 15.4 15.7 All other industries do 17.2 81.9 82.8 81.8 '77.4 74.5 78.7 82.7 75.0 74.5 67.8 67.7 67.0 75.7 Corporate profits before tax total do 82.3 33.7 32.4 34.1 33.7 '31.8 34.1 30.7 30.9 31.2 30.7 28.4 28.7 28.6 33.9 Corporate profits tax liability do 48.2 48.7 46.3 48.1 '45.6 44.1 48.7 43.8 43.8 39.1 39.0 44.5 38.7 Corporate profits after tax _ do 48.4 21.1 19.5 20 2 20.9 20.7 21.5 18.8 21.1 18.1 17.4 19.2 17.7 17.3 20.9 Dividends do 27.1 27.4 '24.0 27.8 24.6 26.1 27.6 25.0 25.7 21.4 21.3 25.3 21.7 Undistributed profits do 27.4 Q -2.8 -1.8 -2.8 -2.9 -.8 -1.8 -1.0 .0 -1.3 .0 -.4 -1.5 Inventory valuation adjustment do -2.1 20.2 19.1 18.7 19.6 17.5 21.0 21.6 18.1 16.9 16^3 17.8 15.7 15.5 20.0 Net interest do DISPOSITION OF PERSONAL INCOMEf Quarterly Data Seasonally Adjusted at Annual Rates 585.2 552.8 564.6 573.5 598.3 609.7 527.6 541.9 518.0 500.3 507.5 496.0 535.1 580.4 Personal income total bil $ 77.4 66.7 69.5 73.6 79.8 81.1 66.6 65.7 64.9 60.9 59.4 59.1 66.0 Less* Personal tax and nontax payments do 75.1 495.1 499.9 507.8 518.4 528.5 486.1 453.2 461.0 476.2 446.6 469.1 436.6 Equals: Disposable personal income do 505.3 441.2 483.3 468.4 488.0 494.1 457.6 473.3 438.6 447.1 430.3 443.4 418.4 420.0 412.1 478.3 Less' Personal outlays© do 26.7 24.5 30.4 34.4 22.4 28.5 26.6 29.0 22.8 22.8 26.6 24.5 25.7 Equals' Personal savings do 27.0 NEW PLANT AND EQUIPMENT EXPENDITURES Unadjusted quarterly or annual totals: 12.77 14.95 15.29 15.57 17.00 ' 13. 59 i 15. 62 2 15. 85 13.41 10.79 12.81 12.84 11.54 44.90 51.96 All industries . bil. $ 60.63 6.72 5.61 7.02 6.84 7.75 '6.10 '6.89 5.47 5.73 6.78 4.54 5.59 4.67 18.58 22.45 Manufacturing do 26.99 2.87 3.54 3.48 4.07 '3.08 '3.58 3.61 2.76 2.91 3.51 2.25 2.83 9.43 2.37 11.40 Durable goods industries do 13.99 2.74 3.24 3.30 3.42 2.82 3.68 '3.02 '3.31 2.70 3.27 2.28 2.76 2.30 . 9.16 11.05 Nondurable goods industries. _ _ . do _ 13.00 .33 .35 .38 .41 .32 .37 '.32 .33 .40 .29 .33 '.38 1.19 .30 1.30 Mining do 1.47 .40 .46 .55 .48 .38 .44 .44 .55 '.41 .39 '.40 1.41 .37 .35 1.73 Railroad _ do 1.9S .75 .73 .82 .86 .72 1.01 .77 1.00 '.70 .58 .64 '1.09 .59 2.38 2.81 Transportation, other than rail . do _ 3.44 1.60 2.04 2.36 2.36 1.88 2.49 1.84 1.71 2.09 1.32 1.76 6.22 '2.35 1.71 6.94 Public utilities do 8.41 1.26 1.58 1.24 1.22 1.41 1.36 1.42 1.35 1.08 1.17 4.30 1.06 4.94 Communication do 5.62 2.83 3.52 '2.87 '3 4. 51 34.54 3.25 3.33 2.85 3.10 3.06 2.59 10.83 2.84 3.01 11.79 12.74 Commercial and other .do Seas. adj. qtrly. totals at annual rates: 62.80 '61.65 '161.55 2 62. 80 55.35 58.00 50.35 52.75 61.25 60.10 49.00 45.65 47.75 All industries do 25.60 27.75 ' 27. 85 ' 27. 30 28.35 24.15 21.55 23.00 27.55 26.80 20.75 20.15 18.85 Manufacturing do 13.15 14.50 ' 14. 20 ' 14. 20 12.45 10.80 11.75 14.35 14.60 13.85 10.40 10.15 9.60 Durable goods industries do 12.45 13.25 ' 13. 70 ' 13. 10 11.70 13.20 10.70 11.25 13.70 12.95 10.40 10.00 9.20 Nondurable goods industries do 1.45 ' 1.40 '1.50 1.40 1.35 1.25 1.45 1.65 1.30 1.25 1.55 1.30 1.20 Mining __ do 1.75 2.35 '1.80 '1.50 1.95 1.55 1.85 1.50 1.70 1.75 2.00 1.55 1.50 Railroad do 3.30 3.50 '3.05 '3.80 3.00 3.40 4.20 2.70 3.00 3.50 2.55 2.60 2.40 Transportation other than rail do 8.25 8.50 7.30 6.85 6.75 8.55 9.20 8.30 '9.20 '9.25 6.80 6.35 6.30 Public utilities ... do 5.95 5.35 5.30 4.80 5.05 5.60 4.55 5.50 5.75 4.40 4.40 Communication do 12.35 13.30 ' 12. 55 '318.15 3 17. 95 12.25 11.95 11.60 12.85 11.30 12.45 11.40 11.00 Commercial and other do U.S. BALANCE OF INTERNATIONAL PAYMENTScf Quarterly Data Are Seasonally Adjusted (Credits +; debits -) Exports of goods and services (excl. transfers under military grants) mil. $. ' 37, 099 '39, 147 ' 43, 039 '9,371 ' 9, 565 ' 8, 768 '10,180 '10,080 '10,119 '10,511 '10,618 '10,913 '10,997 "11,317 25, 297 '26,314 ' 29, 168 ' 6, 370 ' 6, 587 ' 5, 628 -6,880 '6,811 ' 6, 925 ' 7, 203 ' 7, 181 ' 7, 382 ' 7, 402 ^7,690 Merchandise, adjusted, excl. military do '212 -210 '209 '192 '206 ' 222 '230 P338 '200 ' 189 '298 '847 844 Military sales do '847 1,353 1,469 ' 1, 535 ' 1, 587 ' 1, 654 Pl, 582 ' 5, 389 ' 5, 888 ' 6, 245 ' 1,387 '1,322 '1,499 ' 1, 562 1,474 Income on U S. investments abroad do 1,630 ' 1,680 ' 1,738 '1,731 p 1,707 1,629 1,565 ' 5 666 ' 6, 171 ' 6, 779 '1,425 '1,458 ' 1,431 ' 1,546 Other services do Imports of goods and services _ do r-28, 637 '-32,203 '-37, 936 '-7,208 '-7, 440 '-7, 232 '-8, 139 -8, 233 -8, 599 -8, 977 '-9,265 '-9, 762 '-9,913 p-9, 981 -18,621 '-21,472 '-25, 510 '-4, 730 '-4, 907 '-4, 669 '-5, 475 -5, 556 -5, 772 -6, 025 '-6, 225 '-6, 580 '-6, 680 p-6, 689 Merchandise, adjusted, excl. military do -861 ' -911 ' -953 ' -969 p-1,041 -754 -785 Military expenditures. . ._ _ do '-2,861 '-2, 921 '-3, 694 -694 '-691 r -671 '-711 -475 ' -471 ' -565 ' -563 p-531 -469 -435 Income on foreign investments in the U.S-.do ' — 1,455 '-1,729 '-2, 074 '-362 ' -380 ' -401 r -424 -1,573 -1, 636 '-1,658 '-1,664 '-1,701 p-1,72 -1,488 '-1,529 '-1,462 '-1,491 Other services _ _ do '-5,700 '-6, 081 '-6,659 '-1, 422 Unilateral transfers, net (excl. military grants); ' -851 '-660 '-733 ' -709 ' -632 p-722 ' -775 ' -725 ' -664 -694 ' -680 transfers to foreigners (— ) mil. $.. '-2, 782 '-2, 824 '-2,925 Transactions in U.S. private assets, net; increase (— ) mil $ '-6,542 '-3, 743 '-4,132 '-1,624 ' 2 104 ' 1,657 ' -389 ' -885 ' -812 ' -981 '-1, 135 ' -932 '-1,084 p-1,006 Transactions in U.S. Govt. assets, excl. official reserve assets; increase ( — ) mil $ -1,674 -1,575 '-1,531 ' -405 ' -579 ' -396 ' -490 ' -244 ' -445 ' -365 ' -500 ' -328 ' -338 p-741 Transactions in U.S. official reserve assets, net; -6 pl,027 . 424 82 41 68 271 68 842 -151 increase (— ) mil $ 70 171 1,222 568 Transactions in foreign assets in the U.S., net (U.S. '1,205 ^312 '492 '459 ' 1,145 '211 '236 '286 ' -342 '664 ' 1,724 liabilities)' increase (-f-) mil $ '3,314 '391 '3,301 '425 p-483 54 '83 '416 ' -12 '227 Liquid assets . do '448 ' 1,485 ' -24 ' -267 '113 '789 ' 2, 629 P795 '780 '376 '265 ' 1,091 '248 '310 ' -75 ' -205 Other assets do '239 685 '278 ' 2, 512 '216 '277 ' -229 p-206 ' 53 ' -113 ' -245 ' -110 ' -233 ' -198 Unrecorded transactions __ do ' -949 ' -415 ' -383 ' -174 ' -335 Balance on liquidity basis— increase in U.S. official reserve assets and decrease in liquid liabilities to '199 ' -457 ' -259 ' -651 ' -122 ' -165 ' -419 p-544 all foreigners' decrease ( — ) mil $ '-2, 800 ' 1 335'-1,357 ' -518 '-1,334 ' -818 Balance on official reserve transactions basis— increase in U.S. official reserve assets and decrease in liquid and certain nonliquid liabilities to foreign '207 ' -910 ' -443 ' -175 ' ' -861 ' -18 p-1,822 '239 official agencies; decrease (-) mil. $. '-1,548 '-1,304 ' 225 ' -239 ' -618 ' -834 tSe e corresp onding n ote on p. S-1. *1 Revised. » Preliminary. valuatic n adjust ment. nventory 9Iiicludes i F.stimates for Apr.-June 1967 based on anticipated capital expendit ures of bu si ness, 2 Estimates for July-Sept. 1967 based on anticij3ated cap ital expe nditures of busii icss. 0P ersonal <outlays c om prise personal consum ption ex penditur es, inter 3St paid by consume rs, and personal t ransfer p ayments to foreig tiers, Anticipated expenditures for the year 1967 are as foil >ws (in bil .$):Alli ndustries, 62.40;rmmu§Pe rsonal sa ving is e xcess of d isposabh i income over per sonal out lays, facturing, total, 27.91; durable goods industries, 14 50; nondiirable goods indiistries, 1 3.42; cfft lore com plete det ails are i iven in ;he quar ;erly rev ews in t he Mar. June, S ept., and mining, 1.56; railroad, 1.53; transportation, 3.82; pu blic utilit es, 9.12; commerci al and o ther Dec. ssues of 1the SURV EY; quar terly rev isions ba ck to 196C are on p . 2 2 f f o f t his issue (incl. communication), 18.46. s includes commuilication.
@FedFRASER