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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

<

v

V

<

<

SEASONALLY ADJUSTED ANNUAL R A T E S ,
I
II
III
IV |

1975-76
I

1970

1971

1972

1973

1974

1975

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

4
5
6
7
8

-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

18
19
20
21
22

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

23
24
25
26

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

39
40
41

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

39
40
41

42
43
44

.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

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

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.