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F E ©HE RuA LE boarR E S E R V E 5 * llfi'^ 1 r e l e a s e i 1(111 f- E.8 May 1 2 , 1976 Volume and Composition of Individuals' S a v i n g - F i r s t Q u a r t e r , 1976 i a) ( B i l l i o n s of d o l l a r s ) SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL R A T E S , I II III IV | 1975-76 I 1970 1 2 3 80.7 11.3 44.4 99.8 11.1 70.3 124.6 12.1 75.4 138.2 13.1 67.7 133.9 8.6 59.6 161.4 8.2 91.1 132.8 -18.6 103.4 188.9 44.2 87.9 147.6 8.8 61.9 176.2 -1.6 111.1 165.5 .7 128.2 -2.9 .3 -12.7 2.8 -.8 -14.4 2.4 -11.8 -5.0 -.2 3.1 3.3 -2.6 -.1 1.0 21.1 2.7 6.5 11.1 4.3 21.3 3.0 .8 10.8 10.0 13.9 4.0 1.5 -4.1 7.0 4.3 4.1 -8.2 -19.6 11.8 -5.6 4.0 -20.9 2.0 9.2 38.4 4.2 19.6 -3.8 7.6 18.5 3.8 15.5 5.2 -.4 -12.9 4.5 —6 . 8 -5.8 3.7 SECURITIES U . S . SAVINGS BONDS OTHER U . S . TREASURY S E C . U . S . GOVT. AGENCY S E C . STATE • LOCAL OBLIGATIONS 4 5 9 10 11 12 10.7 -1.5 2.8 -4.4 9.3 -3.9 1.3 -6.5 5.2 1.5 .5 -4.7 1.1 3.5 -1.6 -6.5 -1.7 -.5 1.0 -2.0 9.0 -2.5 1.6 -2.8 14.6 3.1 6.8 -8.3 8.5 -6.8 -1.4 -.2 10.6 -4.1 2.2 2.1 2.5 -2.2 -1.2 -4.7 4.7 -1.4 -3.4 -8.4 CORPORATE + FOREIGN BONDS COMMERCIAL PAPER INVESTMENT COMPANY SHARES OTHER CORPORATE E Q U I T I E S 9 10 11 12 13 14 15 16 17 5.1 3.3 7.1 8.8 3.6 6.1 5.2 7.3 9.2 5.1 6.5 6.0 6.8 11.1 3.7 7.2 5.2 7.7 11.5 4.8 7.2 5.7 10.9 15.1 5.5 7.2 6.1 12.7 15.4 6.9 7.1 5.9 11.7 11.2 7.9 7.1 5.9 11.6 31.5 6.3 7.2 6.1 12.8 6.9 5.3 7.6 6.3 14.6 11.8 8.0 7.4 6.6 13.6 11.0 10.9 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 + P E N . R E S . MISCELLANEOUS F1NAN. A S S E T S 13 14 15 16 17 140.3 23.4 33.3 84.9 -1.3 165.0 31.3 35.5 97.1 1.1 190.8 40.0 40.6 111.2 -1.3 215.1 44.5 45.7 122.9 2.0 203.7 37.7 45.0 121.9 -.9 204.6 36.8 39.6 128.1 187.7 34.2 39.4 118.9 -4.9 193.6 33.7 39.1 123.8 -3.0 211.1 37.0 39.5 131.8 2.8 225.9 42.3 41.1 137.6 4.9 239.0 46.9 40.8 146.5 4.7 GROSS I N V . IN TANGIBLE ASSETS NONFARM HOMES NONCORP. BUS. PLANT + E Q U I P . CONSUMER DURABLES INVENTORIES lb 19 20 21 113.1 12.8 23.3 77.0 121.8 13.7 24.9 83.2 130.3 14.7 25.8 89.7 144.4 17.1 28.7 98.6 163.5 19.5 33.1 110.8 183.5 22.0 36.9 124.5 176.2 21.1 35.6 119.6 181.6 21.7 36.6 123.4 186.1 22.3 37.3 126.4 190.0 22.9 38.3 128.7 195.6 23.5 39.9 132.2 CAPITAL CONSUMPTION ALLOWANCES NONFARM HOMES NONCORP. BUS. PLANT + E Q U I P . CONSUMER DURABLES 23 24 25 26 27 28 29 30 31 27.2 10.6 10.0 7.9 -1.3 43.2 17.6 10.6 13.9 1.1 60.5 25.3 15.0 21.5 -1.3 70.6 27.4 17.0 24.4 2.0 40.2 18.2 11.8 11.2 -.9 21.1 14.8 2.8 3.5 11.5 13.2 3.8 —. 6 -4.9 12.0 12.0 2.5 .5 -3.0 25.0 14.7 2.2 5.4 2.8 36.0 19.4 2.8 8.9 4.9 43.3 23.4 .9 14.3 4.7 NET I N V . IN TANGIBLE ASSETS NONFARM HOMES NONCORP. BUS. PLANT + E Q U I P . CONSUMER DURABLES INVENTORIES 27 2b 29 30 31 32 33 34 35 36 37 36 32.2 12.5 8.0 6.0 -1.8 2.3 5.1 57.3 24.2 11.2 11.2 2.6 1.0 7.1 85.8 38.4 13.2 19.2 4.7 .9 9.4 87.6 44.2 12.9 22.9 —4.6 2.2 9.9 58.2 32.6 12.4 9.6 -2.1 2.7 2.9 58.5 34.6 10.4 5.3 2.2 1.5 4.4 41.1 29.1 9.6 -2.0 1.4 1.9 1.2 49.2 33.7 10.4 -1.0 5.1 1.4 -.4 57.1 33.0 10.2 11.3 -1.7 1.5 2.8 86.3 42.6 11.2 12.7 4.3 1.4 14.0 80.9 38.1 11.0 17.1 7.0 1.7 6.1 NET INCREASE IN DEBT MTG. DEBT ON NONFARM HOMES NONCORP BUS. MORTGAGE DEBT CONSUMER CREDIT SECURITY CREDIT POLICY LOANS OTHER DEBT 32 33 34 35 36 37 38 75.7 8.8 7.9 85.7 9.2 13.9 99.3 11.1 21.5 121.4 11.5 24.4 116.0 15.1 11.2 124.0 15.4 3.5 103.2 11.2 —.6 151.7 31.5 .5 115.5 6.9 5.4 125.9 11.8 8.9 127.9 11.0 14.3 .9 -.1 58.2 .8 -.1 61.9 1.4 .1 65.2 .9 .3 84.2 .5 .2 88.9 .2 .3 104.6 -.3 .2 92.7 .7 .7 119.0 102.4 —.2 .7 104.9 -.1 .7 102.0 INDIVIDUALS* SAVING ( 1 + 2 7 - 3 2 ) - GOVT. INSURANCE + P E N . R E S . - NET INVESTMENT IN CONS. OUR. - CAPITAL GAINS DIVIDENDS FROM INVESTMENT COMPANIES - NET SAVING BY FARM C O R P S . = PERSONAL SAVING, F / F B A S I S 39 40 41 42 43 44 45 50.6 57.3 49.4 72.7 74.0 88.9 73.6 107.5 85.9 88.6 86.3 PERSONAL SAVING, N1A B A S I S 45 46 < 1975 39 40 41 < 1974 23 24 25 26 V 1973 18 19 20 21 22 v 1972 4 5 6 7 8 < 1971 7.6 4.5 15.8 11.5 14.9 15.8 19.0 11.5 16.5 16.3 15.6 DI FFERENCE 46 * * .2 .2 CD INCREASE I N FINANCIAL ASSETS DEMAND D E P O S I T S • CURRENCY SAVINGS ACCOUNTS COMBINED STATEMENT FOR HOUSEHOLDS, FARM, AND NONFARM NONCORPORATE B U S I N E S S . 1 / 7 6 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION. % T h e s e t a b l e s on i n d i v i d u a l s 1 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 w - o f - f u n d s a c c o u n t s . From f l o w - 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 , nonfarm 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 n 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 f r o m 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 c o n s u m e r 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 . 1 2 3 7 8 22 42 43 44 > E.8 May 1 2 , 1976 Volume a n d Composition of Individuals' S a v i n g - F i r s t Q u a r t e r , 1 9 7 6 (1) ( M i l l i o n s of d o l l a r s ) UNADJUSTED NET FLOWS UNADJUSTED NET FLOWS UNADJUSTED NET FLOWS, 1 9 7 5 - 7 6 ( S M I L L . ) II IV 1 I III I 1 INCREASE I N FINANCIAL ASSETS 2 DEMAND D E P O S I T S + CURRENCY 3 SAVINGS ACCOUNTS 1965 YEAR TOTALS <$ B I L L . ) 1 1966 1967 1968 1969 62.1 1.6 6.0 1 2 3 30.0 —.4 10.5 2.8 9.6 4 5 6 7 8 28.606 -13.864 29.173 48 . 748 14.342 21.304 39.038 933 15.717 44.975 6.767 24.880 35.469 -9.814 35.606 58.2 7.8 28.0 62.6 3.9 20.5 69.0 11.3 34.8 73.3 12.5 30.3 4 5 6 7 8 SECURITIES U . S . SAVINGS BONDS OTHER U . S . TREASURY S E C . U . S . GOVT. AGENCY S E C . STATE • LOCAL OBLIGATIONS 3.150 1.011 -1.240 -5.206 3.080 -3.569 1.081 -7.699 906 2.239 13.758 977 7.918 -314 2.062 564 956 2.510 548 -343 -1.887 1.104 -1.447 -1.789 1.099 3.1 .6 1.0 .9 1.7 15.1 .7 2.6 4.4 3.6 -2.5 .9 -.7 1.4 -2.2 3.7 .4 5.4 -.2 -.8 9 10 11 12 CORPORATE + FOREIGN BONDS COMMERCIAL PAPER INVESTMENT COMPANY SHARES OTHER CORPORATE E Q U I T I E S 4.123 181 1.874 -673 2.634 -2.167 -520 -43 3.094 -1.024 399 646 -806 539 -153 -2.687 1.692 -1.222 -678 —646 1.0 3.2 -5.4 2.0 2.7 3.7 -4.6 4.6 -2.1 3.0 -7.3 4.7 .7 5.8 -12.3 6 .6 4.8 4.8 -8.6 9 10 11 12 PRIVATE L I F E INSURANCE R E S . PRIVATE INSURED PENSION R E S . PRIVATE NGNINSURED P E N . R E S . GOVT. INSURANCE + PEN. R E S . MISCELLANEOUS F I N A N . ASSETS 1.774 1.467 3.100 2.062 1.744 1.783 1.485 2.650 9.238 1.515 1.796 1.526 3.275 1.117 916 1.888 1.583 3 . 6 54 2.920 2.719 1.848 1.654 3.588 1.979 2.495 4.7 2.1 5.5 4.7 2.3 4.6 2.1 7.2 5.6 3.8 5.0 2.6 6.6 5.5 5.7 4.6 2.9 6.4 6.1 6.6 4.9 2.9 6.3 7.1 3.1 13 14 15 16 17 1 8 GROSS I N V . I N TANGIBLE ASSETS 19 NONFARM HOMES 20 NONCORP. B U S . PLANT + E Q U I P . CONSUMER DURABLES 21 INVENTORIES 22 <•2.115 8.931 8.245 25.569 -630 48.072 6.552 10.793 31.389 —662 51.657 8.731 11.207 31.257 462 62.751 12.575 9.529 39.842 805 54.631 12 . 2 2 0 8.406 32.217 1 .788 111.0 21.9 24.5 62.8 1.6 114.6 21.4 25.1 67.7 .4 115.5 19.3 25.5 69.6 .9 132.4 23.8 27.9 60.0 .6 143.3 25.7 31.0 65.5 1.1 18 19 20 21 22 2 3 C A P I T A L CONSUMPTION ALLOWANCES NONFARM HOMES 24 25 NONCCRP. B U S . PLANT + E Q U I P . 26 CONSUMER DURABLES 4 4 . 0 56 5.270 8.897 29.889 45.405 5.425 9.138 30.842 46.519 5.578 9.333 31.608 47.490 5.728 9.576 32.186 48.912 5.882 9.964 33.046 75.5 9.6 14.4 51.5 80.9 9.9 15.4 55.6 87.5 10.3 16.5 60.7 97.0 11.5 18.1 67 .4 107.9 12.9 20.5 74.6 23 24 25 26 2 7 NET I N V . I N TANGIBLE ASSETS 28 NONFARM HOMES 29 NONCORP. B U S . PLANT + E Q U I P . 30 CONSUMER DURABLES 31 INVENTORIES -1.941 3.661 -652 -4.320 - 6 30 2.667 1.127 1.655 547 -662 5.138 3.153 1 . 8 74 -351 462 15.261 6.847 -47 7.656 805 5.719 6.338 -1.578 - 8 29 1.768 35.4 12.3 10.1 11.3 1.6 33.7 11.6 9.7 12.1 .4 27.9 9.0 9.0 9.0 .9 35.4 12.3 9.8 12.6 #6 35.4 12.8 10.6 10.9 1.1 27 28 29 30 31 3 2 NET INCREASE IN DEBT 33 MTG. DEBT ON NONFARM HOMES 34 NONCORP B U S . MORTGAGE DEBT 35 CONSUMER CREDIT 36 SECURITY CREDIT 37 POLICY LOANS 38 OTHER DEBT 4.100 7.815 920 -5.062 344 464 -381 18.820 6 .122 3.392 1.076 1.266 353 4.611 16.738 7.728 3.764 3.566 -434 377 1.715 18.801 10.942 2.283 5 .666 1 .068 345 -1.523 13.197 10.261 1 .075 -1.450 1.742 417 1.152 38.6 15.2 6.6 9.6 .7 .6 5.8 31.4 12.7 5.4 -.1 1.5 5.6 33.8 10 . 4 7.2 4.5 3.7 1.0 7.0 42.3 14.6 6.8 10.0 2.9 1.3 6.7 40.0 16.1 7.0 10.4 —3 . 4 2.6 7.3 32 33 34 35 36 37 38 39 INDIVIDUALS' 22.565 32.595 27.438 41.435 27.991 55.1 64.9 63.1 66.4 57.5 39 13 14 15 lb 17 CI) SAVING 11*27-32) COMBINED STATEMENT FOR HOUSEHOLDS, AND NONFARM NONCORPORATE B U S I N E S S . 1/76 FARM, BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
