Full text of E.8 Volume and Composition of Individuals' Saving : March 1977

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FEDERAL
11

RESERVE

s t a t i s t i c a l

r e l e a s e

E.8
March 1977

Volume and Composition of Individuals' Saving-Fourth Quarter, 1976 ( 1 )
SEASONALLY ADJUSTED ANNUAL RATES

SEASONALLY ADJUSTED ANNUAL RATES
1
I

1975

1
I

1976
IV

II

III

173.7
7.0
90.1

185.2
1.6
84.1

184.6
14.5
110.2

192.5
2.3
134.6

33.1
4.1
11.1
5.5
3.8

8.3
3.9
-3.8
3.4
7.1

36.3
4.2
9.0
4.6
7.2

-9.7
5.8
-14.2
-.3
6.2

-14.9
4.7
-21.5
-4.7
4.4

SECURITIES
U . S . SAVINGS BONDS
OTHER U . S . TREASURY S E C .
U . S . GOVT. AGENCY S E C .
STATE • LOCAL OBLIGATIONS

4
5
6
7
8

8.6
-10.9
—. 4
-3.3

7.3
2.0
.6
-1.2

3.1
2.7
.8
-8.9

9.7
-1.8
-3.0
6.4

2.1
-7.2
.7
-2.8

8.7
-6.9
-2.1
2.4

CORPORATE • FOREIGN BONDS
COMMERCIAL PAPER
INVESTMENT COMPANY SHARES
OTHER CORPORATE E Q U I T I E S

9
10
11
12

9.9
11.5
13.2
18.5
14.7

8.0
9.1
11.7
14.7
12.1

8.1
10.4
16.4
15.3
12.4

9.7
11.2
16.1
17.6
13.7

9.7
9.8
9.4
20.0
14.3

9.8
12.8
13.3
16.6
17.0

10.4
12.4
14.0
19.7
14.1

211.1
42.4
35.2
131.7
1.8

254.7
56.5
40.6
156.3
1.3

217.4
43.3
35.0
136.0
3.1

228.5
46.9
36.9
141.8
3.0

247.1
52.0
39.6
151.4
4.2

250.2
55.1
39.4
155.0
.7

256.6
58. 1
40. 5
157.6
.4

2 6 4 . 9 GROSS I N V . IN TANGIBLE ASSETS
18
NONFARM HOMES
19
60.7
NONCORP. BUS. PLANT • E Q U I P . 2 0
43.1
CONSUMER DURABLES
21
161.2
$
INVENTORIES
22

164.4
19.5
34.4
110.6

185.0
22.0
39.4
123.7

206.4
24.4
43.7
138.2

187.9
22.3
39.9
125.6

192.6
22.9
41.3
128.4

198.1
23.5
42.4
132.2

203.5
24.1
43.1
136.2

209.1
24.7
44.2
140.2

214.8
25.4
45.3
144.2

72.8
27.9
14.8
25.4
4.6

37.6
23.2
4.7
11.1
-1.3

26.1
20.4
-4.2
1.8

48.3
32.0
-3.1
18.1
1.3

29.5
21.0
—4. 9
10.+
3.1

35.9
24.0
-4.4
13.4
3.0

49.0
28.5
-2.8
19.2
4.2

46.7
31.0
-3.7
18.8
.7

47.5
33.4
-3.7
17.4
.4

90.3
41.5
15.9
18.6
4.5
1.0
8.8

94.1
47.0
15.7
21.7
-4.3
2.2
11.9

60.0
35.3
12.4
9.8
-1.8
2.7
1.7

62.7
39.4
7.4
8.5
2.2
1.6
3.6

102.0
56.9
11.4
20.5
3.9
1.4
8.0

58.9
42.2
7.3
14.3
-6.9
1.6
.5

89.0
48.2
8.4
17.7
9.5
1.5
3.7

86.9
51.4
10.0
18.1
3.2
1.2
3.0

96.7
51.4
9.6
20.6
5.5
1.6
8.0

110.6
64.9
11.7
19.2
2.6
1.5
10.7

1 1 4 . 0 NET INCREASE I N DEBT
59.8
MTG. DEBT ON NONFARM HOMES
14.4
NONCORP BUS. MORTGAGE DEBT
24.0
CONSUMER CREDIT
4.3
SECURITY CREDIT
POLICY LOANS
1.2
10.4
OTHER DEBT

32
33
34
35
36
37
38

39
40
41

102.0
11.6
21.5

121.7
11.7
25.4

115.3
12.5
11.1

131.2
14.7
8.1

130.3
18.5
18.1

134.7
14.7
10.4

134.2
15.3
13.4

135.8
17.6
19.2

135.2
20.0
18.8

121.5
16.6
17.4

128.6
19.7
17.0

39
40
41

42
43
44

1.4
.1
67.4

.9
.4
83.3

.5
-.1
91.3

.2
-.1
108.3

.3
$
93.5

.5
*
109.2

.1
$
105.4

-.1
$
99.2

.5
$
95.9

86.8

INDIVIDUALS* SAVING 1 1 + 2 7 - 3 2 )
- GOVT. INSURANCE • P E N . R E S .
- NET INVESTMENT IN CONS. OUR.
- CAPITAL GAINS DIVIDENDS
FROM INVESTMENT COMPANIES
.1
$ - NET SAVING BY FARM CORPS.
9 1 . 9 « PERSONAL SAVING, F / F B A S I S

45

49.4

70.3

72.2

*4.0

77.8

80.5

83.7

79.5

82.9

75.8

72.9

PERSONAL SAVING, N l A B A S I S

45

46

18.1

13.0

19.1

24.3

15.7

28.7

21.7

19.7

13.1

11.0

19.0

DIFFERENCE

46

1972

1973

1974

1975

1976

1
2
3

127.6
14.8
71.0

143.0
12.7
67.9

137.7
5.1
57.9

167.8
6.9
84.9

183.9
6.4
104.8

164.0
11.5
74.5

187.2
-10.0
101.5

4
5
6
7
8

1.3
3.3
-.2
-3.5
2.2

21.0
2.7
14.3
-.7
7.2

30.2
3.0
6.2
-2.0
11.2

21.1
4.0
6. 4
—4.8
8.7

5.0
4.7
-7.7
.7
6.2

22.5
4.4
21.7
-9.0
11.3

9
10
11
12

4.2
*
-.5
-4.0

.9
3.4
-1.2
-5.7

5.3
7.9
-.5
—. 7

10.4
-1.9
.8
-2.6

5.9
-3.3
-.9
-.7

13
14
15
16
17

6.5
4.3
6.9
11.6
11.4

7.2
5.5
8.5
11.7
8.6

6.4
6.2
10.9
12.5
8.4

7.6
8.7
12.8
14.7
11.3

18
19
20
21
22

194.8
40.6
41.1
111.2
1.9

217.5
45.0
44.2
123.7
4.6

202.1
42.7
39.0
121.6
-1.3

23
24
25
26

130.1
14.7
25.7
89.7

144.7
17.1
29.3
98.3

27
28
29
31

64.7
25.9
15.4
21 . 5
1.9

32
33
34
35
36
37
38

30

8. 1

111

IV

I

.6
*

(I)
BILLIONS OF DOLLARS.




IV/76

INCREASE I N FINANCIAL ASSETS
DEMAND DEPOSITS • CURRENCY
SAVINGS ACCOUNTS

PRIVATE L I F E INSURANCE R E S .
PRIVATE INSURED PENSION R E S .
PRIVATE NONINSURED P E N . R E S .
GOVT. INSURANCE • PEN. R E S .
MISCELLANEOUS F I N A N . ASSETS

CAPITAL CONSUMPTION ALLOWANCES
NONFARM HOMES
NONCORP. B U S . PLANT • E Q U I P .
CONSUMER DURABLES

1
2
3

13
14
15
16
17

23
24
25
26

5 0 . 1 NET I N V . IN TANGIBLE ASSETS
27
35.3
NONFARM HOMES
28
NONCORP. B U S . PLANT + E Q U I P . 2 9
-2.2
C
O
N
S
U
M
E
R
D
U
R
A
B
L
E
S
17.0
30
$
INVENTORIES
31

COMBINED STATEMENT FOR HOUSEHOLDS. FARM,
AND NONFARM NONCORPORATE B U S I N E S S .

BASED ON INCOMPLETE INFORMATION.

These t a b l e s on i n d i v i d u a l s ' s a v i n g a r e d e r i v e d f r o m t h e F e d e r a l R e s e r v e ' s
f l o v - o f - f u n d s a c c o u n t s . From f l o v - o f - f u n d s t a b l e s t h e I n f o r m a t i o n shown h e r e i s a
c o m b i n a t i o n of t h e h o u s e h o l d , f a r m , and n o n f a m n o n c o r p o r a t e b u s i n e s s s e c t o r s , w i t h
t h e i n t e r c o n n e c t i n g f l o w of " n e t I n v e s t m e n t i s n o n c o r p o r a t e b u s i n e s s " c o n s o l i d a t e d
o u t . A p a r t from t h a t c o n s o l i d a t i o n t h e s t a t e m e n t i s combined I n t h a t I t I n c l u d e s
t r a d e c r e d i t and consumer c r e d i t c l a i m s smong t h e s e c t o r s I n t h e g r o u p .

42
43
44

E 8
March

1977

Volume and Composition of Individuals' S a v i n g - F o u r t h Q u a r t e r , 1 9 7 6 ^
UNADJUSTED NET

FLOWS

U N A D J U S T E D NET FLOWS

<$ M I L L . )
1975
IV

III

1
2
3

INCREASE I N F I N A N C I A L A S S E T S
DEMAND D E P O S I T S • CURRENCY
S A V I N G S ACCOUNTS

1976

1
|

II

I

IV

III

1

1967

1966

B I L L I O N S OF DOLLARS
1969
1968

(S

MILL.)

1970

1971

39.574
2.701
14.543

41 . 4 3 6
141
23 .676

45.199
-2.667
27.502

50.969
1.460
22.447

43.927
3.241
23.108

43.850
4.323
31.727

59.4
2.4
19.1

67.9
9.9
35.3

73.2
11.1
31.1

61.5
2.5
9.1

78.7
8.9
43.6

104.4
9.1
67.8

1
2
3

4
5
. 6
7
8

SECURITIES
U . S . S A V I N G S BONDS
OTHER U . S . TREASURY S E C .
U . S . G O V T . AGENCY S E C .
STATE • LOCAL O B L I G A T I O N S

10.857
977
8.593
-801
3.016

2 .519
956
324
849
779

5.126
1.097
2.450
-388
1.603

6.421
1.161
-1.806
1.373
1.920

2.849
1.302
—643
1.410
1.786

-9.410
1.099
-7.655
-1.650
940

14.4
.6
2.2
4.8
3.4

-2.9
1.0
.2
.5
-2.2

2.9
.6
4.2
1.4
-.7

24.6
-.1
5.9
5.0
9.1

-3.4
.3
-13.1
4.6
-.8

-5.8
2.3
-10.5
-2.3
-.3

4
5
6
7
8

9
10
11
12

CORPORATE • FOREIGN BONDS
COMMERCIAL PAPER
INVESTMENT COMPANY SHARES
OTHER CORPORATE E Q U I T I E S

2.358
-2.845
-221
-220

86
1.181
232
-1 .888

1.939
-1.105
358
-828

2.814
710
-860
1.109

770
-1.883
74
33

377
-999
-467
-1.055

1.4
2.7
3.7
-4.4

4.0
-2.2
3.0
-7.3

4.2
-.5
5.9
-12.4

5.4
3.8
4.9
-9.4

9.5
-3.2
2.8
-3.5

8.3
.3
1.3
-5.0

9
10
11
12

.017
.603
.140
.850
.490

2.419
2.805
4.039
2.451
3.524

2.431
2.442
2.261
10.129
3.378

2.449
3.209
3.352
1.852
3.867

2.606
3.092
3.527
4.057
3.928

4.6
2.1
6.9
5.6
4.4

5.0
2.0
6.6
5.5
6.6

4.6
2.9
6.5
6.1
8.0

4.9
2.9
6.3
7.1
4.0

5.1
3.3
7.1
8.9
5.2

6.1
4.5
7.3
9.5
6.0

13
14
15
16
17

13
14
15
16
17

P R I V A T E L I F E INSURANCE R E S .
P R I V A T E I N S U R E D PENSION R E S .
P R I V A T E NONINSURED P E N . R E S .
GOVT. I N S U R A N C E • P E N . R E S .
MISCELLANEOUS F I N A N . ASSETS

1.988
2.282
2.976
1.562
2.665

18
19
20
21
22

GROSS I N V . I N TANGIBLE A S S E T S
NONFARM HOMES
NONCORP. B U S . PLANT • E Q U I P .
CONSUMER DURABLES
INVENTORIES

54.579
11.116
9.462
33.491
510

61.302
12.730
8.689
38.881
1 .002

57.012
13.262
8.841
33.765
1.144

62
12
10
39

.796
.084
.918
.739
55

64.226
14.289
10.991
39.066
-122

70.685
16.823
9.898
43.723
241

114.6
20.8
25.0
67.7
1.1

116.3
21.2
24.2
69.6
1.3

132.8
24.4
27.6
80.0
.8

143.7
25.9
31.3
85.5
1.0

142.1
25.2
31.6
84.9
.4

167.5
32.6
35.1
97.1
2.7

18
19
20
21
22

23
24
25
26

C A P I T A L CONSUMPTION ALLOWANCES
NONFARM HOMES
NONCORP. B U S . PLANT + E Q U I P .
CONSUMER DURABLES

46.970
5.578
9.983
31.409

48.151
5.728
10.322
32.101

49.529
5.882
10.601
33.046

50
6
10
34

.871
.033
.779
.059

52.286
6. 186
11.040
35.060

53.701
6.338
11.314
36.049

80.0
8.8
16.5
54.7

86.3
9.2
17.6
59.4

95.3
10.5
19.2
65.6

105.2
12.1
21.3
71.8

113.1
12.8
23.2
77.0

121.7
13.7
24.9
83.2

23
24
25
26

27
28
29
30
31

NET I N V . I N TANGIBLE A S S E T S
NONFARM HOMES
NONCORP. B U S . PLANT • E Q U I P .
CONSUMER DURABLES
INVENTORIES

7.609
5.538
-521
2.082
510

13.151
7.002
-1.633
6.780
1.002

7.483
7.380
-1.760
719
1.144

11 . 9 2 5
6 .051
139
5 .680
55

11.940
8.103
-49
4.008
-122

16.984
10.485
-1.416
7.674
241

34.6
12.0
8.5
12.9
1.1

30.0
12.0
6.6
10.2
1.3

37.5
13.9
8.5
14.4
.8

38.5
13.8
10.0
13.7
1.0

29.1
12.4
C.4
7.9
.4

45.8
18.9
10.3
13-9
2.7

27
28
29
30
31

32
33
34
35
36
37
38

NET I N C R E A S E I N DEBT
HTG. DEBT ON NONFARM HOMES
NONCORP B U S . MORTGAGE DEBT
CONSUMER C R E D I T
SECURITY CREDIT
POLICY LOANS
OTHER DEBT

16.592
10.498
2.448
5.046
-1.734
395
-61

21.480
12.551
1.433
6.076
2.368
372
-1.320

13
12
I
-1

.737
.363
.388
.144
791
293
46

30.087
12.756
3.684
6.833
1.372
394
5.048

30. 463
15. 905
3. 735
6.
646
371
3. 320

27.733
15.872
2.602
8.323
1.064
304
-432

31.1
13.4
5.8
6 •*
- . i
1.5
4.2

33.8
13.4
6.3
4.5
3.7
1.0
4.8

43.1
16.8
6.5
10.0
2.9
1.3
5.7

42.1
18.2
7.0
10.4
-3.4
2.6
7.4

33.0
14.7
7.4
5.9
-1.8
2.3
4.6

58.7
27.1
12.1
11.6
2.7
1.0
4.1

32
33
34
35
36
37
3d

39

INDIVIDUALS'

30.591

33.107

38 . 9 4 "

32.807

25.,404

33.101

62.9

64.2

67.6

57.9

74.7

91.5

39

SAVING ( 1 + 2 7 - 3 2 )

2
2
4
2
3

CI J COMBINED STATEMENT FOR HOUSEHOLDS, FARM,
AND NONFARM NONCORPORATE B U S I N E S S .
IV/76

BASED

ON PRELIMINARY

AND INCOMPLETE

INFORMATION.

Year-End A s s e t s a n d Liabilities of Individuals in t h e U.S. ^
YEAR-ENO O U T S T A N D I N G S ,

289.8

1491.5
104.3
307 . 7

769.8
49.7
31.4

724.5
50.2
33.6

36.4

39.8

10.8
$

1497.8

102.0

6.0

10.8

YEAR-END O U T S T A N D I N G S ,

1965-76

1725.8
114.3
342.9

880. 1
51.2
33.8
11.3
37.6

1949.8
125.4
373.9

1897.3
126.0
383.1

1962.0
136.9
426.7

2191.2
146.0
494.6

2433.2
160.9
565.6

2300.4
173.6
633.4

2198.7
178.7
691.3

2548.9
165.6
776.2

2863.7
191.9
881.0

1028.0

943.7
51.8
43.9
17.7
46.0

924.7
52.1
30.8
22.3
45.2

1028.3
54.4
20.2
20.1
45.0

1119.8
57.7
19.9
16.5
47.1

901.8
60.4
34.2
15.9
54.4

729.4
63.3
40.5
13.8
65.5

904.5
67.4
47.0
9.1
74.2

1015.9
72.0
39.3
10.3
80.4

SECURITIES
U . S . S A V I N G S BONDS
OTHER U . S . TREASURY S E C .
U . S . G O V T . AGENCY S E C .
STATE • LOCAL O B L I G A T I O N S

4
5
6
7
8

CORPORATE • FOREIGN BONOS
OPEN-MKT P A P E R , E T C .
INVESTMENT COMPANY SHARES
OTHER CORPORATE E Q U I T I E S

9
10
11
12

51.9
38.0
12.7
36.9

11.9

15.1

19.4

35.2

12

600.2

34.8
540.6

44.7
685.9

52.7
816.4

25.2
4.0
48.3
706.8

35.9
.8
47.6
689.9

44.5
1.1
56.7
786.3

48.4
1.1
59.6
869.2

49.1
4.5
46.5
636.9

56.6
12.4
34. 1
443.1

65.9
10.5
42.2
588.3

71.6
7.2
47.5
667.2

13

98.9
27.3
73.6

103.5
29.4
75.8

108.2

75.7

66.2
80.1

112.9
35.0
101.5
78.9
94.4

117.8
37.9
102.4
85.6
98.8

122.9
41.2
110.6
95.2
103.8

129.0
46.4
130.5
106.8
109.7

135.5
52.3
156.7
121.4
121.0

142.7
56. 1
135. 2
126.1
129.6

149.1
60.6
116.6
134.9
138.0

156.9
71.9
148.9
155.5
149.4

166.6
63.4
1*0.5
179.4
164.6

439.0
214.7
63.2
89.9
9.1
8.3
53.B

469.2
228.4
69.0
96.2
9.0
9.#
56.7

502.8
241.7
75.3

546.2
258.4

680.8
318.4

100.8

110.8

588.6
276.6
88.7

621.6

81.8

12.7

15.6

12.2

771.9
359.9
124.1
157.2
17.6
19.0
94.1

667.1
406.6
139.8
179.0
13.2
21.2
107.1

927.0
442.0
152.2
166.7
11.4
23.9
106.6

969.7
461.2
159.7
197.3
13.7
25.5
112.4

1092.6
536.6
171.1
217.6
17.9
26.9
120.5

10
11

14

15
16
17
IB
19

20
21

22
23
24

60.8

2.8


DOLLAR AMOUNTS I N


.6

32.1
89.4
72.1
86.7

10.8

61.5

1965-76

.1

12.1

67.6

121.1
14.7
75.2

291.3
96.1
127.0
10.4
17.0
79.8

108.2

138.6
13.1

18.0

84.5

II)

B I L L I O N S OF DOLLARS

TOTAL F I N A N C I A L A S S E T S
DEMAND D E P O S I T S + CURRENCY
S A V I N G S ACCOUNT:

P R I V A T E L I F E INSURANCE R E S .
PRIVATE INSURED P E N . R E S .
P R I V A T E NON1NSUREO P B T . R E S .
GOVT. INSURANCE • P E N . R E S .
MISCELLANEOUS F I N A N . A S S E T S

TOTAL L I A B I L I T I E S
MTG. DEBT ON NONFARM HOMES
NONCORP. B U S . MORTGAGE DEBT
CONSUMER C R E D I T
SECURITY CREDIT
POLICY LOANS
OTHER DEBT

COMBINED STATEMENT FOR HOUSEHOLDS,
ANO NONPAR* NONCORPORATE B U S I N E S S .

1
2
3

13
14
15
16
17

18
19
20
21
22
23
24

FARM,

f