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FEDERAL RESERVE statistical release mil E. 8 fA R y * * L f ; c. May 7. 1973 (I) Volume arid Composition of Individuals' Saving- First Quarter, 1973 (Millions of dollars) UNADJUSTED QUARTERLY FLOWS | I 1970 | V | I I 1971 I I III I V I I I 1972 II III I 1973 I V I I 18.185 -5.179 26.511 22.918 2.930 17.391 27.033 2.506 13.283 28.145 8.348 16.348 22.879 -4.850 23.705 28.275 -405 20.625 34.110 6.432 19.221 34.674 7.741 17.124 26.409 -5.298 24.014 -1.563 3.295 -7.517 572 4.333 -5.388 -11.243 48 0 425 -7.849 -6.153 -4.830 -809 1.517 -171 -5.798 676 -6.423 -1.119 1.216 4.071 612 -1.426 412 2.021 -6.220 657 -3.575 -255 174 -1.823 797 -2.198 -1.371 635 -1.649 847 -4.496 524 1.446 1.796 772 -1.297 1.241 1.202 113 879 474 178 850 764 873 -1.808 934 1.402 SECURITIES U . S . SAVINGS BONDS OTHER U . S . TREASURY SEC. U . S . G AGENCY SECURITIES STATE + LOCAL OBLIGATIONS 4 5 6 7 8 7.598 —3.867 1.309 -6.518 4.147 -1.052 -541 -4.800 3.280 -17 303 -2.246 2.848 -1.249 553 -2.713 2.188 -745 - 2 97 -1.294 2.429 -374 271 126 133 -1.499 78 2 -2.637 1.584 -92 8 482 -1.024 846 500 -590 -726 872 -1.359 -140 505 845 735 -293 -3.555 710 -1.301 711 -757 CORP. AND FOREIGN BONDS COMMERCIAL PAPER INVESTMENT CO. SHARES OTHER CORPORATE STOCK 9 10 11 12 6 . 556 3.300 7.256 9.759 6.462 6.848 3.842 5.698 10,264 5.256 1.387 826 2.402 1.954 2.417 1.515 823 2.015 2.162 1.581 1.639 825 1.546 3.714 671 1.702 826 1 .400 1.750 1.495 1.700 826 2.295 2.133 2.715 1.721 900 737 714 1.775 1.682 950 1.508 4.956 608 1.701 1.000 1.437 2.103 420 1.744 992 2.016 2.491 2.453 1.739 1.049 1.639 1.606 896 18 1 6 7 . 6 5 7 1 9 1 . 5 0 9 32.094 25.843 19 42.227 35,826 20 21 1 0 3 . 4 8 2 1 1 6 . 0 7 8 1.110 2.506 22 37.648 5.690 7.549 24.990 -581 36.452 5.414 7.479 22.105 1.454 41.852 5.460 9.547 26.069 776 42.203 6.703 9.509 25.507 484 47.150 8.266 9.291 29.801 -208 42.368 7.260 9.504 24.855 749 48.014 7.331 10.986 29.244 453 47.303 8.397 10.605 28.470 -169 53.824 9.106 11.132 33.509 77 4 9 . 6 1 2 GROSS I N V . I N TANGIBLE ASSETS 9.128 NONFARM HOMES 10.140 NONCORP BUS.CONSTR • EQUIP. 29.363 CONSUMER DURABLES 981 INVENTORIES 18 19 20 21 22 23 1 2 1 . 2 2 5 9.388 24 24.507 25 87.330 26 130.260 9.792 26.753 93.715 28.809 2.280 5.750 20.779 29.455 2.335 5.920 21.200 29.974 2.327 6.041 21.606 30.584 2.351 6.198 22.035 31.212 2.375 6.348 22.489 31.610 2.397 6.451 22.762 32.656 2.491 6.962 23.203 32.721 2.441 6.626 23.654 33.273 2.463 6.714 24.096 3 3 . 8 3 0 CAPITAL CONSUMP. ALLOWANCES 2.485 NONFARM HOMES 6.801 NONCORP.BUS. PLANT + EQUIP. 24.544 CONSUMER DURABLES 23 24 25 26 27 28 29 30 31 46.432 16.455 11.319 1 6 . 152 2.506 61.249 22.302 15.474 22.363 1.110 8.839 3.410 1.799 4.211 -581 6.997 3.079 1.559 905 1.454 11.878 3.133 3.506 4.463 776 11.619 4.352 3.511 3.472 484 15.938 5.891 2.943 7.312 -208 10.758 4.863 3.053 2.093 749 15.358 4.840 4.024 6.041 453 14.582 5.956 3.979 4.816 -169 20.551 6.643 4.418 9.413 77 1 5 . 7 8 2 NET I N V . I N TANGIBLE ASSETS 6.643 NONFARM HOMES 3.339 NONCORP BUS.CONSTR.* EQUIP 4.819 CONSUMER DURABLES 981 INVENTORIES 27 28 29 30 31 32 33 34 35 36 37 38 59.595 24.519 11.262 10.435 2.086 979 10.314 84.864 36.686 12.842 19.170 4.872 975 10.319 6.010 3.789 2.229 2 . 895 395 397 -3.695 6.846 3.583 1.903 -3.198 367 233 3.958 20.593 5.380 3.270 3.784 741 224 7.194 17.590 7.047 3.434 3.256 166 271 3.4-16 14.566 8.509 2.655 6.593 812 251 -4.254 14.245 6.949 2.493 -515 1.989 181 3.148 27.163 8.418 3.724 5.933 1.713 313 7.062 22.953 10.754 3.180 5.164 700 254 2.901 20.503 10.565 3.445 8.588 470 227 -2.792 1 7 . 9 7 5 INCREASE I N DEBT 10.354 MTG. DEBT ON NONFARM HOMES 2.064 NONCORP BUS. MTG. DEBT 1.756 CONSUMER CREDIT -846 SECURITY CREDIT 221 POLICY LOANS 4.426 OTHER DEBT 32 33 34 35 36 37 38 39 83.118 96.323 27.752 18.336 14.203 21.062 29.517 19.392 16.470 25.739 34.722 24.216 39 96.281 8.605 73.533 119.938 8.918 80.675 4 -19.190 2.625 5 6 -19.273 -5.792 7 4.928 8 9 10 11 12 13 14 15 16 17 1 2 3 24.923 7.450 13.875 INCR. IN FINANCIAL ASSETS CURR. AND DEMAND DEPOSITS SAVINGS ACCOUNTS PVT. L I F E I N S . RESERVES PVT. INSURED PEN. RESERVES PVT. NONINSURED PEN. RES. GOVT. I N S . + PEN. RESERVES M I S C . FINANCIAL ASSETS INDIVIDUAL SAVING(1*27-32) (I) Combined statement for households, farm, and nonfarm noncorporate business. These tables on individuals' saving are a continuation of the data that were formerly published by the Securities and Exchange Commission and that are now derived from the Federal Reserve's flow-of-funds accounts. From flow-of-funds tables the information shown here is a combination of the household, farm, and nonfarm noncorporate business sectors, with the interconnecting flow of "net investment in noncorporate business" consolidated out. Apart from that consolidation the statement is combined in that it includes trade credit and consumer credit claims among the sectors in the group. The figures for first-quarter flows are based on incomplete information and are preliminary and tentative estimates. 1 2 3 13 14 15 16 17 A May 7, 1973 (I) , Volume and Composition of Individuals' Saving-First Quarter, 1973 ( B i l l i o n s of d o l l a r s ) V SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1 1971 1 III I 1 | 1 1972 1 1 1973 I 1968 1969 1970 1971 1972 1 2 3 72.4 12.8 30.4 62,6 3 .6 6.1 87.1 6.3 44.5 96.3 8.6 73.5 119.9 8.9 80.7 90.6 -1.4 57.3 106.1 11.1 70.6 101.0 15.5 90.2 4 5 6 7 8 3.5 .4 2.8 1.4 -.2 27.3 -.4 8.1 4.3 7.6 5.6 .3 -7.3 2.6 2.0 -19.2 2.4 -19.3 -5.8 4.9 - 1 .6 3.3 -7.5 .6 4.3 3.4 2.4 -16.4 .9 7.2 -10.8 2.6 -9.0 -1.2 3.0 -31.0 3.2 -21.0 -5.7 1.9 9 10 11 12 4.8 2.0 4.7 -12.3 5.7 5.9 5.5 —9 . 6 12.4 -1.8 2.6 -5.2 7.6 -3.9 1.3 —6. 5 4.1 -1.1 -.5 -4.8 9.0 .2 2.0 -2.0 3.1 -4.0 2.5 -7.8 6.1 -6.7 -2.7 —6. 1 1.3 .7 2.0 -1.3 3.0 -3.6 .3 —• 5 13 14 15 16 17 4.6 2.9 6.4 6.0 5.9 4.8 2.9 6.3 6.6 4.9 5.1 3.3 7.1 9.2 6.0 6.6 3.3 7.3 9.8 6.5 6.8 3.8 5.7 10.3 5.3 6.8 3.3 5.1 8.5 7.7 6.8 3.3 8.2 9.5 7.4 6.9 3.6 3.2 4.5 8.0 6.7 3.8 7.4 15.6 3.4 6.8 4.0 5.2 10.0 3.6 7.0 4.0 7.0 10.9 6.0 7.0 4.2 6.9 8.1 4.5 18 19 20 21 22 132.5 21.1 26.7 84.0 .6 143.0 22.0 29.2 90.8 1.1 140.9 19.6 30.6 90.5 .1 167.7 25.8 35.8 103.5 2.5 191.5 32.1 42.2 116.1 1.1 172.5 26.7 37.2 106.1 2.5 174.2 29.2 37.9 106.1 1.0 182.6 29.6 40.8 111.0 1.1 188.3 32.4 40.7 113.9 1.4 193.9 33.4 42.1 118.6 -.2 201.3 32.9 45.4 120.8 2.2 213.4 37.7 43.5 130.1 2.0 GROSS I N V . I N TANGIBLE ASSETS NONFARM HOMES NONCORP BUS.CONSTR • E Q U I P . CONSUMER DURABLES INVENTORIES 18 19 20 21 22 23 24 25 26 95.3 8.3 19.6 67.4 104.5 8.7 21.3 74.6 112.2 9.0 22.6 80.6 121.2 9.4 24.5 87.3 130.3 9.8 26.8 93.7 122.3 9.4 24.8 88.1 124.8 9.5 25.4 90.0 126.4 9.6 25.8 91.0 130.6 10.0 27.8 92.8 130.9 9.8 26.5 94.6 133.1 9.9 26.9 96.4 135.3 9.9 27.2 98.2 CAPITAL CONSUMP. ALLOWANCES NCNFARM HOMES NONCORP.BUS. PLANT • E Q U I P . CONSUMER DURABLES 23 24 25 26 27 28 29 30 31 37.2 12.8 7.1 16.7 •6 38 . 5 13.3 7.9 16.2 1.1 28.7 10.6 8.1 9.9 .1 46.4 16.5 11.3 16.2 2.5 61.2 22.3 15.5 22.4 1.1 50.1 17.3 12.4 18,0 2.5 49.3 19.7 12.5 16.2 1.0 56.1 20.1 15.0 20.0 1.1 57.7 22.5 12.9 21.0 1.4 63.0 23.6 15.6 24.0 -.2 68.2 23.1 18.5 24.4 2.2 78.1 27.8 16.3 31.9 2.0 NET I N V . I N TANGIBLE ASSETS NONFARM HOMES NONCORP BUS.CONSTR.+ EQUIP CONSUMER DURABLES INVENTORIES 27 28 29 30 31 32 33 34 35 36 37 38 43.3 14.9 6.6 11.1 2.1 1.3 7.4 41.6 16.2 6.9 9.3 -2.5 2.6 9.0 32.8 12.5 8.0 4.3 -1.9 2.3 7.5 59.6 24.5 11.3 10.4 2.1 1.0 10.3 84.9 36.7 12.8 19.2 4.9 1.0 10.3 64.2 29.1 12.2 12.6 .6 1.1 8.7 73.7 31.7 11.4 14.5 3.0 1.0 12.2 75.7 27.5 12.6 13.1 8.2 .7 13.6 82.8 35.5 13.1 18.0 7.0 1.3 7.9 85.1 44.0 11.1 18.7 2.7 1.0 7.6 95.0 39.8 14.5 26.1 1.6 .9 12.2 88.4 41.2 10.9 25.3 -3.3 .9 13.4 INCREASE I N DEBT MTG. DEBT ON NONFARM HOMES NONCORP BUS. MTG. DEBT CONSUMER CREDIT SECURITY CREDIT POLICY LOANS OTHER DEBT 32 33 34 35 36 37 38 39 40 41 66.3 6.0 16.7 59.6 6.6 16.2 82.9 9.2 9.9 83.1 9.8 16.2 96.3 10.3 22.4 76.5 8.5 18.0 81.7 9.5 16.2 81.4 4.5 20.0 100.7 15.6 21.0 93.3 10.0 24.0 109.9 10.9 24.4 103.7 8.1 31.9 2.5 .9 -.2 63.1 54.8 8.2 .8 1.4 1.2 .6 * * 56.5 60.9 -4.5 62.2 54.9 7.4 48.8 61.0 -12.2 55.4 59.3 -3.9 55.8 55.7 .1 42 43 2.5 * * 44 41.2 45 46 39.8 1.4 34.2 38.2 -4.0 IV II I 1.0 III 125.7 -3.4 78.8 115.5 10.9 79.6 136.8 12.1 74.1 114.1 14.6 91.7 -4.6 3.1 -16.0 5.2 3.8 15.t 3.5 7.5 .4 5.9 -23.0 3.5 -20.5 3.1 3.9 13.3 3.4 —.8 2.4 5.7 IV 1.4 1.2 62.5 50.2 12.4 58.1 50.9 7.2 6.1 5.4 — 1.8 ' -11.2 2.0 * 72.5 62.8 9.7 2.5 -8.5 -2.0 -5.1 I N C R . I N FINANCIAL ASSETS CURR. AND DEMAND DEPOSITS SAVINGS ACCOUNTS SECURITIES U . S . SAVINGS BONDS OTHER U . S . TREASURY SEC. U . S . G AGENCY SECURITIES STATE + LOCAL OBLIGATIONS CORP. AND FOREIGN BONDS COMMERCIAL PAPER INVESTMENT CO. SHARES OTHER CORPORATE STOCK P V T . L I F E I N S . RESERVES P V T . INSURED PEN. RESERVES P V T . NONINSURED PEN. RES. GOVT. I N S . + PEN. RESERVES M I S C . F I N A N C I A L ASSETS INDIVIDUAL SAVING(1+27—32) L E S S - G O V T . I N S * PEN RESERVES NET I N V . I N CONS. DUR CAPITAL GAINS D I V I D E N D S 1.7 FROM I N V E S T . CCS. .1 NET SVG. BY FARM CORPS. 6 1 * 9 EQUALS PERS SAVING* F / F BASIS 5 7 . 0 PERSONAL SAVING, N I A BASIS 4 . 9 DIFFERENCE ( 4 4 - 4 5 ) 1 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 39 40 41 42 43 44 45 46 (1)COMBINED STATEMENT FOR HOUSEHOLDS, FARM, AND NCNFARM NONCORPORATE BUSINESS r