Full text of Long Term Economic Growth, 1860-1965
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U.S. DEPARTMENT
OF COMMERCE
BUREAU OF THE CENSUS
This report was prepared in the Economic Research and Analysis Division under the direction of Julius
Shiskin, Chief. His technical staff
and their responsibilities for the
publication are—
Allan H. Young—Technical supervision and review; Gerald F. Donahoe—Output, utilization, and background economic variables; Norman
E. Bakka—Input, international comparisons, and industry comparisons;
Robert S. Taylor—Education, health,
research and development, and
regional comparisons.
Editorial supervision is provided by
Geraldine Censky of the Administrative and Publications Services Division. Stuart I. Freeman is responsible for publication design.
For sale by Superintendent of Documents, U.S. Government Printing
Office, Washington, D.C. 20402,
Price $2.75.
October 1966
U.S. DEPARTMENT OF COMMERCE
John T. Connor, Secretary
BUREAU OF THE CENSUS
A. Ross Eckler, Director
Howard C. Grieves, Deputy Director
Morris H. Hansen, Asst. Director for Research and Development
JULIUS
Chief
ACKNOWLEDGMENTS
8H-1464 500 7-66
Economic
SHISKIN,
Statistician
During the past 2 years, the technical work for
ider the immediate supervision
d Donahoe, Norman Bakka, and
as under the immediate super>ubstantially to the basic organing this period by James Hines
ided valuable technical advice
g persons and organizations is
, University of North Carolina;
nee Board; Edward F. Denison,
t, National Bureau of Economic
irs of the Federal Reserve Systy; Leon Greenberg, Bureau of
ide Corporation; Stanley Leber,us Maddison, Organisation for
inco Modigliani, Massachusetts
eau of the Budget; Raymond
Solow, Massachusetts Institute
of Business Economics of the
UfCfya I II I I CI I 1 Ul WUI I II • I d Vsu.
I l l V WWI.WUUI.'W visory Committee of the American Economic Association, American Statistical Association, and the American Marketing Association also made important contributions.
Staff
members of the Office of Business Economics, the Bureau of Labor Statistics, and the Board of Governors of the Federal Reserve System reviewed
the descriptions of the various series shown in the report.
The name of the organization or individual responsible for compiling a
series is included in the series title as an aid in identifying the series.
It is
often the case, as is stated by the researcher whose name is listed, that the
series has been made up over a long period of time by many investigators
with each building upon the work of his predecessor.
In these cases we
have, for convenience, used only the name of the last researcher.
The
earlier investigators are referred to in the source notes in appendix 2 and
in the original sources.
"TP® ABOUT THE COVER This publication provides a comprehensive view of the growth
of the American economy. Trends in the principal measures that describe this growth,
and around which the report is organized, are provided in the central panel. The left
panel illustrates the dominantly agricultural economy in 1860 and the right panel, the
highly industrialized economy in 1965.
LONG TERM ECONOMIC GROWTH
1860-1S65
A STATISTICAL COMPENDIUM
Descriptions and Procedures
Abbreviations.
How to Read Time Series Charts
.
ES4-No.i
.
Page
1
8
9
Charts
or
Tables
Series
Descriptions
Basic
Data
166
PARTI.
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
11
CHART 1.
OUTPUT...
Total output—Farm and nonfarm output—Consumption—Investment—Exports—Government expenditures—Personal income
DISTRIBUTION OF INCOME
Family personal income by quintile of consumer unit—Consumer unit by level of income
—National income by type
INPUT
Total input—Labor and capital input—Indexes of man-hours—Employment—Occupational distribution of labor force—Population and labor force—Population age distribution—Components of population change—Capital
PRODUCTIVITY
Output per unit of input—Output per man-hour—Output per employee
14
131
22
136
—
23
136
172
34
143
188
TABLE 1.
CHART 2.
CHART 3.
PART II.
PROCESSES RELATED TO ECONOMIC GROWTH
37
CHART 4.
40
143
190
43
146
196
46
48
50
147
148
149
198
198
200
TABLE 2.
UTILIZATION OF LABOR AND CAPITAL
Unemployment—Hours worked—Labor force participation—Capital
EDUCATION
Enrollment and Expenditure — Income by Education Levels
MEDICAL RESEARCH AND HEALTH STANDARDS
RESEARCH AND DEVELOPMENT.
BACKGROUND ECONOMIC VARIABLES
Price indexes—Real wages—Long-term interest rates—Short-term interest rates—Stock
prices—Corporate profits—Corporate finance—Saving—Debt—Assets of financial institutions—Money supply—Velocity of money—Gold stock and balance of payments
SEASONAL AND CYCLICAL FLUCTUATIONS
62
—
—
PART III.
REGIONAL AND INDUSTRY TRENDS
65
-
-
MAP OF CENSUS GEOGRAPHIC REGIONS AND DIVISIONS..
INCOME AND POPULATION FOR THE UNITED STATES AND GEOGRAPHIC AREAS .
Per Capita Personal Income (Geographic Divisions)—Personal Income (Geographic
Divisions)—Resident Population (Geographic Divisions)—Average Annual Percent
Change of Per Capita Personal Income (States)
MANUFACTURING VALUE ADDED AND EMPLOYMENT FOR THE UNITED STATES AND
GEOGRAPHIC DIVISIONS
Value Added by Manufacture—Manufacturing Employment—Value Added per Employee—Manufacturing Employment per 100 Persons
TANGIBLE ASSETS AND NEW CAPITAL EXPENDITURES OF MANUFACTURING INDUSTRIES FOR THE UNITED STATES AND GEOGRAPHIC DIVISIONS......
NATIONAL INCOME AND PERSONS ENGAGED IN PRODUCTION FOR INDUSTRY
DIVISIONS...
AVERAGE ANNUAL PERCENT CHANGE OF NATIONAL INCOME.....
Industry Divisions—Industry Components
68
69
—
—
156
210
74
157
220
78
158
222
79
80
158
158
224
224
CHART 5.
CHART 6.
CHART 7.
CHART 8.
CHART 9.
CHART 10.
TABLE 3.
TABLE 4.
CHART 11.
-
-
Charts
or
Tables
Series
Descriptions
Basic
Data
GROWTH RATES OF GROSS NATIONAL PRODUCT FOR INDUSTRY DIVISIONS
VALUE ADDED BY MANUFACTURE FOR MAJOR INDUSTRY GROUPS
GROWTH RATES OF FEDERAL RESERVE PRODUCTION INDEXES FOR MAJOR INDUSTRY GROUPS.
RAPIDLY GROWING AND DECLINING MANUFACTURING INDUSTRIES
GROWTH RATES OF FEDERAL RESERVE PRODUCTION INDEXES FOR INDUSTRIES.
AVERAGE ANNUAL PERCENT CHANGE OF VALUE ADDED BY MANUFACTURE FOR
INDUSTRIES
83
84
159
159
239
240
85
87
88
159
160
160
244
91
160
PART IV.
INTERNATIONAL COMPARISONS
97
CHART 16.
TABLE 7.
GROSS NATIONAL PRODUCT OF THE UNITED STATES AND SIX COUNTRIES
GROWTH RATES OF GROSS NATIONAL PRODUCT AND OUTPUT PER EMPLOYEE FOR
THE UNITED STATES AND SIX COUNTRIES
OUTPUT BY INDUSTRY DIVISIONS FOR THE UNITED STATES AND SIX COUNTRIES ...
LABOR FORCE AND EMPLOYMENT BY INDUSTRY DIVISIONS FOR THE UNITED
STATES AND SIX COUNTRIES
INVESTMENT AS PERCENT OF GROSS NATIONAL PRODUCT FOR TH E UNITED STATES
AND SIX COUNTRIES
99
160
248
101
102
—
—
162
—
103
162
—
104
163
—
PART V.
GROWTH RATE TRIANGLES
105
CHART 17.
GROWTH RATES OF GROSS NATIONAL PRODUCT, INITIAL AND TERMINAL YEARS
USED AS SELECTED POINTSPartA. Close Approximations to Rate of Economic Growth Shown on White Background...
Part B. Rough Approximations to Rate of Economic Growth Shown on White Background
GROWTH RATES OF TOTAL PRIVATE MAN-HOURS, INITIAL AND TERMINAL YEARS
USED AS SELECTED POINTS......
GROWTH RATES OF GROSS PRIVATE PRODUCT PER MAN-HOUR, 1NITIAL AND TERMINAL YEARS USED AS SELECTED POINTS
GROWTH RATES OF GROSS NATIONAL PRODUCT, LINEAR TREND FITTED TO LOGARITHMS
PART III. (Co ntinued)
CHART 12.
TABLE 5.
CHART 13.
TABLE 6.
CHART 14.
CHART 15.
TABLE 8.
TABLE 9.
TABLE 10.
CHART 18.
CHART 19.
CHART 20.
BIBL10GRAP HY
-
GROWTH RATE CONVERSION AND COMPOUND INTEREST RATE TABLES..
SERIES DESCRIPTIONS AND SOURCES
BASIC DATA.
-
—
-
-
107
131
166
108
131
166
109
137
174
110
143
188
111
131
166
113
APPENDIXES
APPENDIX 1,.
APPENDIX 2.
APPENDIX 3.
-
—
—
115
131
165
The 3 phases of
OUR RESEARCH AND
DEVELOPMENT WORK
on economic
fluctuations
CENSUS METHOD II ADJUSTMENT PROGRAM.
A time series
computer program for measuring and analyzing seasonal,
trading-day, cyclical, and irregular fluctuations and the relations
among them.
The latest variant, X - l l , has greater generality and scope than any of the
earlier programs. It can adjust quarterly as well as monthly series and
series with negative and positive numbers as well as those with positive
numbers alone. The X - l l version measures and adjusts not only for
seasonal variations, but also for trading-day variations. Further, it computes many summary and analytical measures of the behavior of each
series. It also includes various techniques, such as F-tests and variance
analysis,for use in extending the scope of time series studies.
BUSINESS CYCLE DEVELOPMENTS.
A report for analyzing
economic fluctuations lasting 3 to 8 years.
This monthly report brings together several hundred monthly and quarterly
"economic indicator" series for the analysis of short-term economic trends
and prospects. These series have been selected, tested, and evaluated,
after half a century of continuing research, as the most useful and reliable
for this purpose. The publication provides not only the basic data, but
also various charts and analytical tables to facilitate such studies. In
addition, a time series data bank, a diffusion index program, and a separate summary-measures computer program are available for those who
wish to carry on further research in business-cycle analysis.
LONG TERM ECONOMIC GROWTH.
A report for the study of
economic fluctuations over a long span of years—back to 1860.
This report has been developed from available statistics to provide a comprehensive, long-range view of the U.S. economy. It has been planned,
prepared, and published as a basic research document for economists,
historians, investors, teachers, and students. It brings together for the
first time under one cover, in meaningful and convenient form, the complete
statistical basis for a study of long-term economic trends. It is a unique
presentation of the full range of factors required for an understanding of
our country's economic development.
The data that have gone into this new statistical compendium originated in
various public source materials from both Government and non-Government
agencies and individuals.
mi
DESCRIPTIONS
&
PROCEDURES
INTRODUCTION
This report is designed to show, in convenient form, the principal annual economic time
series needed by students of economic growth.
It represents a response to the increasing interest in expanding economic welfare, both in developed and developing countries; the economic
competition among countries with different economic systems; and the establishment of
economic growth as a major policy objective of
the U.S. Government. It supplements many
descriptive studies and causal analyses on this
subject that have been prepared in recent years.
It is expected to simplify the task of students in
this field, whatever their explanations of economic growth and standards for judging performance happen to be, by providing a broad
base of information related to economic growth
and relieving those concerned with theoretical
issues and economic policies of a large part of
the laborious task of compiling basic data and
making computations from them.
There is, at present, considerable uncertainty
regarding the appropriate measures of economic
growth, the methods of compiling the measures,
and the accuracy of the historical records.
While there is some agreement about the factors
which affect long-term economic growth, there
is less about their quantitative importance. In
fact, there is only one comprehensive series of
estimates of the quantitative importance of these
factors—that by Edward F. Denison. Denison's
study has had a major impact on investigations
of economic growth, with one of its many contributions being the demonstration of the tenuousness of many of the estimates that are available
and the need for more basic information. A
major objective of LONG TERM ECONOMIC
GROWTH is to encourage and facilitate the development of better estimates by providing a
convenient framework for such work and by
bringing the statistical gaps out into the open.
Thus, we hope that this report will provide an
information base-that will facilitate judgments
on economic performance, aid in the formulation
of economic policy to accelerate growth, contribute to the development of the theory of economic growth, and point up some of the gaps in
the statistical intelligence system.
LONG TERM ECONOMIC GROWTH brings together almost 400 aggregate annual economic
time series and almost 800 component series
that seem useful for studying economic growth.
The report carries each series far back in history—sometimes to 1860—and will update
them in subsequent editions. The adequacy
and appropriateness of particular series are
undergoing a continuing review by the Census
Bureau research staff, in consultation with specialists in the field of long-term economic
growth. New series will probably be added to
future editions, while some of the present group
may be dropped after further review. Limited
resources and experience have confined this
first edition to those data most readily available.
For this reason and because of the large task
of inspecting and appraising all the series that
could have been included, it is recognized that
this issue will have to serve as a working document to break the ground and set a pattern for
subsequent reports.
Experience with similar new reports indicates
that substantial changes may be expected as a
result of suggestions made by those making
practical uses of such material. We, therefore,
welcome the comments and criticisms of those
who make use of our report. Annual publication is planned until the expected suggestions of
users are incorporated and the content of the
report is stabilized in this sense. Subsequently, less frequent publication may suffice.
One suggestion received for the second edition
is that, where possible, the report coverage begin about 1800 instead of 1860. This coverage
was not feasible for the first issue, but will be
considered for the next issue.
Since this report is designed to focus attention on a specific subject—long-term economic
growth—general-purpose source publications,
such as SURVEY OF CURRENT BUSINESS, HISTORICAL STATISTICS OF THE UNITED STATES,
and EMPLOYMENT AND EARNINGS AND
MONTHLY REPORT ON THE LABOR FORCE are
more appropriate for some uses. In many instances, related series as well as more complete
technical series descriptions will be found in
these general-purpose sources.
LONG TERM ECONOMIC GROWTH, which is
focussed on problems of long-term economic
growth, complements BUSINESS CYCLE DEVELOPMENTS which has similar objectives with
respect to studies of short-term business conditions and prospects.
1
GENERAL PLAN OF THE REPORT
This report is
organized into five major parts—each part presenting a specific type of economic measure.
Part I presents about 150 annual time series,
measuring aggregate output, input, and productivity. These are the basic measures of
economic growth. First, various measures of
the growth of actual output of goods and services
along with a measure of potential output are presented. They are followed by measures of the
growth of inputs of various human and material
productive factors. The input measures indicate the changing levels of economic resources
which have been used, or are available, over the
time period covered. Finally, measures of productivity, obtained simply by dividing the volume
of output by the number of units of input, are
presented.
Part II covers economic processes importantly
related to economic growth. In some cases the
relation to economic growth is clear; for example,
the series on education, health, and research
and development. Other series represent
background economic activities which certainly
affect long-term economic growth, though how is
sometimes less clear. These series include
data on prices and interest rates, saving and
debt, the assets of financial institutions, the balance of payments, and monetary gold stock.
The measures of the intensity of utilization of
labor and capital resources and of the magnitude of seasonal and cyclical forces which are
also included in this section provide a perspective against which the measures of long-term
growth can be better appraised.
Part III presents measures below the aggregate level, measures which can be used to understand and interpret economic growth more effec-
tively. Both regional and industry series are
shown.
Part IV shows measures of output, input, and
productivity for six foreign countries—the
United Kingdom, Canada, West Germany, Italy,
France, and Japan.
Part V provides reference tables of growth
rates which may be useful in making com-
parisons over various time periods among different series.
A more detailed discussion of the role of each
type of measure in presenting information on
economic growth is given at the beginning of
each part.
ii.
III.IV.
v.-
PROBLEMS OF MEASUREMENT
2 FRASER
Digitized for
Many conceptual
and statistical problems beset the measurement
of economic growth and analysis of its sources.
Some of them are briefly reviewed below. The
purpose of this review is only to indicate the nature of the problems and the many uncertainties
that now surround them. More comprehensive
statements of the problems, and the alternative
solutions and their implications—especially for
data compilation—appear in the references
cited.1
1 For the most part, this review is based on more detailed
discussions of the same problems in The Sources of Economic
Growth in the United States and the Alternatives Before Us,
by Edward F. Denison, Supplementary Paper No. 13, Committee for Economic Development, January 1962, and "The Measurement of Aggregate Economic Growth" by George Jaszi,
Review of Economics and Statistics, November 1961. Also, see
The Study of Economic Growth by Solomon Fabricant, ThirtyNinth Annual Report, National Bureau of Economic Research,
pp. 1-13, May 1959, and Six Lectures on Economic Growth by
Simon Kuznets, The Free Press, 1959; and the additional
references given in the bibliography.
concepts for judging economic growth Economic
growth is usually considered to be growth in the
output of the economy. Such growth can be
measured in terms of output either on a total, a
per capita, or a per worker basis, with the choice
depending on the problem at hand. Alternatively, economic growth is sometimes defined in
terms of per capita consumption or personal
welfare. Another alternative view is in terms of
changes which take place in the economic and
social structure of a nation as it undergoes economic growth; for example, the changes in the
rate of population growth and the amount of the
labor force in agriculture which a nation about to
begin economic development may experience.
All the above definitions are directed to the long
term; that is, to the changes or trends which
occur over a decade or longer, sometimes a
century.
definition and measurement of output and
related economic processes There
are many problems in defining and measuring
total output and the other economic activities
presented in this report. Some of the principal
ones concerning total output are indicated below. Similar problems affect many of the other
types of measures presented in the report.
All growth analysts consider real gross national product, as distinguished from money
gross national product, to be the appropriate
measure of output. However, money data are
sometimes used as a proxy for data on the
physical volume of output because of the difficulties of compiling "real" data, either directly
or through price deflation. For the most part,
data on real output are derived through price
deflation. In many areas there is a lack of
actual output data so that physical volume
measures cannot be built up directly. This is
particularly true for the service industries and
government services. Therefore, the indirect
way of measuring output is used; that is, dollar
volume figures are divided by price deflators.
In some sectors where physical volume data are
available, the advantages of the price deflation
method are illusory, because price data are no
more abundant nor any more accurate than
physical volume data. However, some direct
measures of physical volume are included in this
report; for example, the Federal Reserve index
of industrial production.
2 However, imputations are made for four nonmarket items:
(1) Employee compensation received in kind, (2) food and fuel
produced and consumed on farms, (3) services derived from
Total output, as compiled in the U.S. National
Income and Product Accounts prepared by the
Office of Business Economics (OBE), is the market value of the final output of goods and services produced by the Nation's economy. In
addition to the sales of final products to their
ultimate consumer, the value of total output includes additions to business inventories and the
value of force-account construction. 2 The services of housewives and similar nonmarket items
are excluded. This exclusion may lead to some
overstatement in the long-run growth of output
since many services which were previously performed in households and excluded from gross
national product (GNP) are now included. A
similar problem is inherent when comparing the
United States with other countries. In many
countries, a larger portion of productive activity
occurs outside the market economy.
There is also the point of view, held most
notably by Simon Kuznets, that the concept of
total output should be less inclusive than that
used by OBE. Kuznets defines total output as
final output intended to satisfy wants of individual consumers. Under this definition, he excludes many national defense expenditures and
those government expenditures which represent
services to business enterprises.
In addition, there are the conceptual and
practical problems of taking quality changes
into account. While there is general agreement
that improvements in product quality should be
considered as increases in the quantity of output, quality changes cannot be fully taken into
account in practice. It is generally believed
that the price deflators do not completely reflect
quality changes, since the relative quality of new
products must be higher than their relative
prices for them to replace the old products in the
market place. Consequently, there is a tendency for the rate of growth to be understated in
the output measures.
Several related problems may be mentioned.
One is that of deflating the output of the construction industry. The present price deflators
measure, in general, the costs of inputs rather
than the outputs of the construction industry.
The result is generally an understatement of the
rate of growth of construction, since productivity
increases are not adequately allowed for. Another is that the output of government is not
directly measured, but is based on compensation of government employees. The deflated
owner-occupied residences, and (4) the services rendered by
financial intermediaries without explicit charge. The resulting net addition is about 7 percent.
3
value of government output obtained by adjusting for changes in the government wage level,
does not include productivity changes. Similar
methods are used to obtain the "output" of
domestics and nonprofit institutions. As is well
known, GNP is often used in place of net output,
because of difficult conceptual and measurement problems in arriving at the capital consumption allowance; that is, the amount of
capital used in the production process, especially when the replacement capital embodies
newer technology.
Still another problem is that of weighting the
components of aggregate output. Since relative prices change over time, the selection of the
base year determines the weighting of the various components of national product and affects
its trend. Studies show that those output components growing most rapidly tend to show the
smallest price increases while those growing
least rapidly tend to show the largest price increases. Thus, a recent price base gives
greater weight to the slowly growing components
than does an earlier price base, and vice versa.
Finally, earlier data are less comprehensive
and less accurate than recent data, themselves
still subject to important limitations. From
1810 to 1899 industrial censuses were decennial, and from 1899 to 1919, they were
quinquennial. Also, relatively fewer data were
compiled on activities other than manufacturing
in the early years of the period covered by the
report, and these are still inadequate in various
respects. World Wars I and II and the depression of the 1930's demonstrated the need for
more information, and the passage of the Employment Act of 1946 stimulated further interest
in statistics and their uses. In addition, the increasing interdependency of economic activities
and the growth of the economics and statistics
professions led to the development of improved
methods of statistical compilation. In many
cases, the Government has taken over the series
and methods of private investigators and provided better current statistics through the use
of more comprehensive and more accurate
underlying data.
In this connection, it is to be noted that the
effects of estimating errors are reduced as the
span of comparison is extended.
Thus an
error in the figures involved in a comparison which affects the year-to-year percentage
change by 5 percentage points will affect
the average annual percentage change over 50
years by only one-tenth of 1 percentage point.
Similarly, the longer the period over which the
comparison is made, the smaller the effects of
cyclical and irregular factors. Because there
may be persistent biases in some measurements
of change, however, and because significant
differences in trends may take place during a
nation's economic history, a single measure of
the average long-term trend must be used with
caution.
The selection of statistical indicators useful in studying the sources
of economic growth is beset with many difficulties. One is that a comprehensive theory of
economic growth is at an early stage of development and does not yet provide adequate guidelines. A second is that despite the relative
abundance of our statistics, there is a paucity of
data in certain key areas. For example, our
national wealth data are piecemeal, particularly
on the age and efficiency of capital. Also, few
data are available on quality of education or
quality of labor. A third difficulty is that many
of the series available cover only a relatively
short span of years. This latter point is true
or our series on capacity (which start in the late
1940's) and research and development (which
start in the 1930's).
relevant. To a large extent, the selection relies
on the list of 31 factors presented by Edward F.
Denison which potentially could affect the rate
of growth (some to a much greater degree than
others). Many of these factors are presented
in parts I and II of the report. Several, however,
are not directly presented in this report because
data are not available. They include the elimination of several types of institutional barriers
to the most efficient use of resources, the increased mobility of labor, the reduction of crime,
and an increase in the advance of knowledge.
Some studies emphasize other sources of
growth such as the availability and utilization of
natural resources and energy; or the intangibles
such as the role of the innovator and risk taker
and our method of economic organization, dominated by free markets and competition. In
general, series for such additional factors have
not been included in this report principally because adequate relevant data do not now exist.
selection of statistical indicators
The series included in this report as measures of the sources of economic growth represent a selection which several experts in the
field of economic growth now consider most
4
separation of long-term growth from the business
cycle Since 1834, the American economy has
experienced 31 business cycles from about 3 to
8 years' duration. These cycles have been
characterized by alternating periods of expansion and contraction. In addition, there have
been four wars with major effects upon the pace
of economic activity. The measurement of economic growth and long-term trends in many of
the series is greatly complicated by the presence
of fluctuations associated with business cycles
and the types of irregular movements caused by
wars.
For example, from 1909 to 1965, the annual
Table A.
DISTRIBUTION
OF YEAR-TO-YEAR
PERCENT CHANGES
IN ACTUAL
AND POTENTIAL
REAL GNP
Intervals of
percent change
All intervals
- 4 . 0 and lower..
- 0 . 1 to —3.9....
0.0.
0.1 to 3.9
4.0 to 7.9
8.0 to 11.9
12.0 and greater..
Actual GNP
1909 to 1965
Number of
measures
56
8
8
•I'-
ll
15
6
7
percentage changes in total real GNP ranged
from —14.7 to + 1 6 . 1 a year. These changes
primarily represent the year-to-year effect of the
business cycle as the economy shifts from highto low-level operation or vice versa. Such shifts
do not represent growth in output in the sense
that we are concerned with in the report.
Rather, growth is represented by various types
of measures which "adjust" for business cycles
and long-term irregular movements. Thus,
year-to-year changes in measures of potential
GNP range from — 0.2 to 6.5 with most measures concentrated in the interval from 0.1 to 3.9
as can be seen from the table below.
Potential GNP (Knowles)
1909 to 1964
Potential GNP (CEA)
1952 to 1965
Percent
N u m b e r of
measures
Percent
Number of
measures
Percent
100.0
14.3
14.3
1.8
19.6
26.8
10.7
12.5
55
100.0
13
100.0
1
1.8
34
20
61.8
36.4
13
100.0
Four techniques are used in this report to
show measures of long-term trends as distinguished from cyclical and irregular fluctuations:
(1) Potential GNP estimates made by the Council of Economic Advisers and by the staff of the
Joint Economic Committee of Congress are presented. These measures show estimates of
GNP assuming reasonably full employment.
(2) A new technique was developed to distinguish rates of change which may be taken as
measures of growth from those that are biased
from this point of view. This technique, suggested by Denison, is used in the presentation
of the growth-rate triangles in part V. The
total unemployment rate is used as a measure of
how close the economy is operating to its potential output in selecting appropriate years for
comparison. Comparisons between years with
similar unemployment rates are taken as more
valid measures of economic growth than comparisons between years of relatively high unemployment rates and years with relatively low
rates (or between years of relatively low unemployment rates and years with relatively high
rates). This technique is described in more
detail in part V.
(3) An averaging technique was used to combine annual data into measures of the average
level of activity over each business cycle. These
business cycle averages then provide the basic
data in computing growth rates and in showing
the relative importance of geographic divisions
and industries in part III. They minimize the
effects of the varying cyclical amplitudes of the
geographic divisions and industries. These
cycle averages, unlike the comparison of
selected years in which the unemployment rates
are equal, measure the average level over the
business cycle, thus reflecting an "output"
rather than a "capacity" concept of growth.
The computation of cycle averages is discussed
in more detail in part III.
( 4 ) Growth-rate comparisons of U.S. geographic
divisions and industries and of the United States
and foreign countries are presented only for long
spans where the terminal dates have been picked
carefully in order to minimize the effect of cyclical fluctuations. In general, growth rates were
computed from one cycle average to another or
between years of approximately equal unemployment. In some instances, the standards
have been relaxed a little to include comparisons
based on the current period which does not in-
5
elude a complete business cycle. Therefore,
current comparisons may be influenced more
than longer historical comparisons by the business cycle and other short-term effects.
Although it is highly useful to separate the
short-term from the long-term fluctuations in
measuring economic growth, as is done in this
report, the two types of economic movements
are interrelated to some extent. For example,
cylical fluctuations often influence business and
government decisions concerning the timing
and scope of long-term investment commitments. In the 1930's, they also affected the
birth rate with a consequent effect on today's
labor force. Likewise, expected long-run increases in economic activity, foreshadowed by
such indicators as population, affect the patterns and magnitude of cyclical fluctuations.
A growth rate can
be defined as the slope of the trend line of a
historical series. A constant rate of growth
over a period of years is usually expressed as the
"average percentage increase per year." A
trend line with a constant rate of growth appears
selection of growth-rate formulas
Chart A. Comparison of alternative growth rate formulas for U.S. gross national product,
1890 to 1965
Digitized for
6 FRASER
Chart A. Comparison of alternative growth rate formulas for U.S. gross national product,
1890 to 1965—continued
as a straight line on a ratio scale chart. Two
widely accepted alternatives for computing such
growth rates are (1) the method of selected
points, and (2) a linear trend fitted by least
squares to the logarithms of the data.
The method of selected points, the most frequently used technique, does not take account
of intervening values; it estimates the growth
rate by simply connecting the logarithms of the
beginning and terminal values of the period of
years considered with a straight line.3 It is not
influenced by the particular pattern of cyclical
variations which occurs between the initial and
terminal years.
A linear trend fitted by least squares to the
logarithms of the data minimizes the sum of
the squared deviations of the logarithms of the
data from the logarithms of the trend and
equates the sum of the logarithms of the data
with the sum of the logarithms of the trend.
Thus, it is influenced by the particular pattern
of cyclical variations between the initial and
terminal years.
There are several alternatives to the standard
technique of fitting a linear trend to the logarithms by least squares, which fit an exponential
curve directly to the data themselves. The advantage of these alternatives is that they equate
the sum of the data with the sum of the trend
values rather than with the sum of the loga-
3 The
t r e n d line is given by t h e c o m p o u n d - i n t e r e s t - r a t e
f o r m u l a w h i c h in l o g a r i t h m s is log X t = l o g X i + n log (l + r')
w h e r e X i is t h e i n i t i a l value a n d Xt t h e t e r m i n a l value of t h e
series, n is t h e s p a n of years, and r = r ' x l 0 0 is t h e percentage
rate of g r o w t h . To c a l c u l a t e t h e rate of g r o w t h t h e f o r m u l a is
rearranged
1.0)X 100.
7
rithms (sums are more meaningful for economic
data than products; i.e., sums of logarithms).
However, the results are usually quite similar to
those obtained by the standard technique.4
In estimating growth rates, the time period to
be covered should be carefully selected. If the
period is too short, say 5 to 10 years, the estimated growth rate may be greatly influenced by
transitory conditions in the economy. In such
instances, the estimated rate will not actually
represent the long-term trend of the series.
On the other hand, a growth rate can be computed over too long a period. The path of development of some series over long periods
cannot be approximated by a trend line representing a constant percentage rate of increase.
In such cases, it may be more meaningful to
compute growth rates for various subperiods or
to fit a trend line which does not have a constant
rate of growth. In addition, the time period
should be selected in such a way that short-term
cyclical fluctuations do not bias the calculated
growth rate, particularly for a relatively short
period where the effect of the business cycle
may be large.
Trend lines for GNP in the United States, derived by various methods of computing growth
rates, are shown for selected periods in chart A.
In this report, the term "average annual
growth rate," or "growth rate" for short, is reserved for measures of change computed from
data adjusted for price changes. Measures of
change computed from current dollar data, such
as those in part III, are designated as "average
annual percentage changes."
The following abbreviations are used
throughout the report:
INS
JEC
APS
BLS
NBER
ABBREVIATIONS
8
CEA
CED
DOD
FDIC
FHA
FR
GNP
HEW
American Philosophical Society
Bureau of Labor Statistics, Department
of Labor
Council of Economic Advisers
Committee for Economic Development
Department of Defense
Federal Deposit Insurance Corporation
Federal Housing Administration
Federal Reserve: Board of Governors of
the Federal Reserve System
Gross national product
Department of Health, Education, and
Welfare
4
Two methods of fitting an exponential trend to the actual
data are discussed by Neville L. Rucker and Dudley J. Cowden
in Tables for Fitting an Exponential Trend by the Method of
Least Squares, Technical Paper 6, University of North Carolina
School of Business Administration.
Other procedures for
NICB
NSF
OBE
OECD
PHS
SEC
SIC
SSRC
USDA
Immigration and Naturalization Service
Joint Economic Committee, Congress of
the United States
National Bureau of Economic Research,
Inc.
National Industrial Conference Board
National Science Foundation
Office of Business Economics, Department of Commerce
Organisation for Economic Cooperation
and Development
Public Health Service
Securities and Exchange Commission
Standard industrial classification
Social Science Research Council
U.S. Department of Agriculture
fitting an exponential trend directly to the data are described
by Boris P. Pesek in "Economic Growth and Its Measurement'/
Economic Development
and Cultural Change, Vol. IX, No. 3,
April 1961.
HOW TO READ TIME SERIES CHARTS
All data are plotted at MIDYEAR POINTS; i.e., data for 1900 are plotted to
the right of the vertical line indicating the beginning of that year.
9
part
m
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
The core series necessary for studying economic growth are presented here. These are
various measures of the output of the U.S.
economy such as gross national product, industrial production, and personal consumption expenditures; measures of input such as the
amount and types of labor and capital available
for producing the economy's output; and measures of the productive efficiency of labor and
capital. The general descriptions and important characteristics of the series are discussed
below to provide a starting point for studying
the charts. More detailed definitions of the
series are included in Appendix 2, Series Descriptions and Sources.
measures of output
Measures of output can be placed
roughly in three groups: (1) Actual and potential
aggregate output, (2) major components of
gross national product, and (3) distribution of
output to residents of the Nation.
The measures of actual and potential aggregate output include gross national product in
both constant and current prices, potential gross
national product, national income and net national product, gross private domestic product,
and industrial production.
Gross national product (GNP) is defined by
the Office of Business Economics (OBE) as the
market value of all final output of goods and
services produced by the Nation's economy, before deduction of depreciation charges for
capital goods. GNP, the most inclusive measure of total final production, covers both public
and private output produced by all factors whose
owners reside in the United States. The series,
in 1958 prices, measures output corrected for
price changes and is referred to in the report as
"GNP in 1958 dollars." It is the primary measure of output. 1
Current-dollar GNP, which includes the effect
of price changes, provides a basis for comparing
total output with measures that are available
only in current dollars (for example, the financial
series and the measures of education and
research and development expenditures in
part II).
Two estimates of potential GNP are presented.
They are designed to show what total output
would be each year if the economy had been operating at assumed high levels of employment
(96 percent of the labor force employed).
Hence, the potential series do not show the business cycle contractions during which labor and
capital were not fully employed, nor the forced
draft conditions of wartime during which labor
and capital were operating above optimum rates.
Potential GNP, as represented by these series,
serves to separate the short-term cyclical movements from the long-term growth of the economy. Potential GNP provides a basis for
studies such as Knowles' and Denison's, which
estimate the contribution of various types of inputs and of productivity to the long-term growth
in output.
Measures of net national product and national
income, which represent the economy's total
output after capital consumption allowances are
deducted, are included as additional measures
of total output. They serve as a reminder that,
for growth studies, the growth of output available for distribution after allowance for capital
consumption is a more ideal measure than total
GNP. Gross private domestic product is included because it is used frequently in productivity studies. The index of industrial production is less inclusive, being limited to measuring
changes in manufacturing, mining, and electric
and gas utilities; nevertheless, it is also a widely
used indicator of the Nation's economic growth.
With the exception of the Federal Reserve industrial production index, the measures of out-
1 Most of t h e revised gross national product data which incorporated the 1958 b e n c h m a r k i n f o r m a t i o n in t h e U.S. National
Income and Product Accounts are used in t h i s issue of the
report. The revised data not available on our press date; e.g.,
m a n u f a c t u r i n g gross product, series A20, and State personal
income, series C I t o C70, will be published in t h e Survey of
Current
Business.
11
put for the current period are those compiled
by the Office of Business Economics, Department of Commerce, and published in the national
income and product accounts. Total GNP extends back to 1909; the components generally
extend back to 1929. For years before 1929,
data compiled by private investigators are
used—primarily those compiled by Simon
Kuznets and adjusted by John W. Kendrick (see
PRODUCTIVITY TRENDS IN THE UNITED
STATES) to conform generally to OBE's definitions. Kendrick's adjustments have not been
reworked to reflect the definitional revisions inTable B.
AVERAGE ANNUAL
GROWTH-RATE
COMPARISONS
(Percent)
Period
1869-78
1879-88
1909 to
1929 to
OBE-Kendrick
(series A1 and A2)
Kuznets
(series A3)
4.0
3.5
2.8
3.0
4.1
3.6
3.3
2.4
to 1929
to 1929
1929
1953
The inclusion of this alternative GNP series
indicates that the manner in which concepts,
such as total output, are defined and measured
must be considered when using the statistical
measures presented here. Such conceptual
and measurement problems are discussed in the
introduction.
The second group of output measures are two
different breakdowns of GNP into major components. The first set, the farm and nonfarm
components, pictures one of the major themes
running throughout the report—the shift from
agriculture to manufacturing and services.1
The causes and effects of this shift are also seen
measures of input
12
troduced by OBE in the August 1965 issue of the
SURVEY OF CURRENT BUSINESS.
For total GNP, a second private estimate,
Variant I from Kuznets' CAPITAL IN THE AMERICAN ECONOMY, is presented for the period
1869 to 1953. Variations between Kuznets'
Variant I and the OBE, Kendrick-Kuznets series
are due to differences in definition,2 different
statistical sources and techniques, and different
price bases. Kuznets' Variant I has a lower
growth rate since 1929 primarily because he
excludes many types of military expenditures
from final output.
Input measures are presented in four
groups: (1) Measures of labor, capital, and total
input; (2) measures of man-hours and employment in the total economy and in the nonagricultural and manufacturing sectors; (3) measures of the characteristics of the labor force and
population; and (4) measures of capital stock.
The first group of input series—measures of
labor, capital, and total input—were developed
by John W. Kendrick and Edward F. Denison in
their studies of productivity and economic
growth. These are the most comprehensive
5 Kuznets includes as final products only those produced by
economic activity intended "to satisfy wants of individual consumers who are members of the Nation, present and future,"
while the OBE, using a market-place concept, defines a final
product as " a purchase that is not resold." These conceptual
differences result in two major differences in coverage: (1)
Kuznets counts as government purchases the cost of only
those activities which go directly to satisfy consumers or into
durable capital formation including military construction and
munitions; while OBE includes total government purchases of
goods and services as final product (in other words, Kuznets
in the charts showing productivity, income,
population, and the occupational distribution of
the labor force. The second set indicates how
total output is divided among consumption,
private investment, and government expenditures.
The third group of output measures indicates'
the manner in which aggregate output is divided
among the residents of the Nation. These
measures include personal and disposable income on a per capita basis, family income distribution, and the distribution of national income
by type of income.
and refined input measures available. They
may be considered as weighted averages of the
more familiar statistics on employment and
stocks of capital goods, where the weights are
the income received by the various types of labor
and capital.
A comparison of these input measures shows
that Denison's measures increase much more
rapidly than Kendrick's. Denison's measure of
labor input includes adjustments for quality
changes arising from advances in education, the
effect of reducing the workweek, and the inincludes expenditures for activities such as education, recreation, and health, but not expenditures for services to business
enterprises and for nondurable commodities and services related to national defense); (2) Kuznets excludes the imputed
services of financial intermediaries except life insurance
companies.
a The manufacturing output component shown in this group
has not been revised to incorporate the definitional and statistical revisions introduced by OBE in 1965, and is shown in 1954
dollars.
creased skills of the female labor force. Kendrick, following the more conventional approach,
did not make estimates of these quality effects,
but allowed them to show up as productivity
changes. The differences in the rates of increase in the capital measures come partly from
the use of gross estimates by Denison and net
estimates by Kendrick and partly from differences in their data sources. (See Denison's
THE SOURCES OF ECONOMIC GROWTH IN THE
UNITED STATES AND THE ALTERNATIVES BEFORE US and Kendrick's PRODUCTIVITY
TRENDS IN THE UNITED STATES.) These
series are not up to date, extending only to the
late 1950's. However, Kendrick plans to update his estimates shortly.
The second group of input measures are the
official Bureau of Labor Statistics (BLS) data
measuring employment and man-hours in the
total economy and in the nonagricultural and
manufacturing sectors.
The third group of input series are various
measures of the characteristics of the labor force
and population. These series include the occupational distribution of the labor force; measures of the total and female labor force; the size
of the total, the farm, and the nonfarm population; the distribution of total population by age
groups; and the three components of population change (i.e., births, deaths, and immigration).
The fourth group of input series are measures
measures of productivity
Productivity series are de
signed to measure the growth of output over and
above that accounted for by increases in inputs.
The series presented here are ratios of output to
total input, labor input, and capital input. The
output and input measures used in calculating
the ratios are those presented previously.
of capital stock. The primary capital measures
shown here are the capital stock series, which
extend back to 1900, derived by Raymond Goldsmith in his studies of national wealth. Two
total national wealth series, gross and net, depict the estimated value of the stock of all
tangible nonmilitary assets, plus net foreign balances. The gross stock series values assets at
their original cost, while the net stock series
values assets at their original cost less accumulated depreciation. Net business reproducible
capital stock is also shown, both as a total and on
a per employee basis. In addition to these
major aggregates, various components including producer durables (i.e., machinery and
equipment), nonresidential structures, inventories, residential structures, consumer durables, and land are shown.
Also shown, are estimates of the gross and
net stock of business capital, based on two alternative service lives and two different assumed
depreciation schedules, calculated by OBE for
benchmark years since 1929. The two alternative service lives are the (1942) Internal Revenue
Service Bulletin F, which approximates the
method used by Goldsmith; and lives 20 percent
shorter than Bulletin F. The two depreciation
schedules are the straight-line and the doubledeclining balance formula. None of these
capital series presented here nor Denison's or
Kendrick's derived series presented at the beginning of the section are available up to date.
Denison's and Kendrick's productivity measures,
however, have not been recomputed to reflect
the 1958 benchmark revision in GNP made by
OBE in 1965. The productivity measures
based on the BLS data do reflect the GNP
revision.4
1 Exceptions are manufacturing output per man-hour which
is based on manufacturing output in 1954 dollars and the 1954
benchmark.
230-193 O - 66 - 2
13
14
part ^
^
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
chart •
•
Output
part
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Output—continued
15
part B
chart
16FRASER
Digitized for
l
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Output-continued
part
chart B
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
i
Output—continued
17
part H
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Output-continued
'NBER estimate for 1932 is $840 million; for 1933, $344 million.
18FRASER
Digitized for
These years are not shown on chart.
part H
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Output—continued
19
part
chart
Digitized for
20 FRASER
AGGREGATE
OUTPUT, INPUT, AND PRODUCTIVITY
Output-continued
part
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Output-continued
21
part
A G G R E G A T E OUTPUT, I N P U T A N D PRODUCTIVITY
table K H
Distribution of income
Percent distribution of family personal income by quintile of consumer unit 1
(OBE)
Period
A43. Lowest A44. Second
A45. Third
A46. Fourth A47. Highest
quintile of
quintile of
quintile of
quintile of
quintile of
consumer unit consumer unit consumer unit consumer unit consumer unit
1935 and 1936*
4.1
9.2
1944, '46 and '47
1950-53
5.0
4.9
4.8
4.6
11.0
11.3
11.2
1953-57
1957-60
1960-62
4.6
11.0
10.9
14.1
16.1
20.9
16.5
16.4
16.3
22.0
22.3
22.4
22.6
16.3
22.7
To tar family
personal
income
100
100
100
100
51.7
46.0
45.0
45.2
45.5
100
100
45.5
Percent distribution of consumer units 1 by level of family personal income
(1954 dollars: OBE)
A48. Under
$2,000
A49. $2,000
to $3,999
A50. $4,000
A51. $6,000
A52. $7,500
to $5,999
to $7,499
to $9,999
13.5
14.2
4.3
4.0
3.3
2.6
4.2
3.2
25.7
10.0
11.5
8.0
8.6
13.0
13.2
13.9
10.1
11.5
12.7
7.6
7.1
9.6
12.2
1929
35.8
38.9
1935 and 1936
42.2
33.8
1944, '46 and '47
18.1
17.8
16.1
30.6
28.4
1950-53
1953-57
1957-60
1960-63
15.2
14.3
25.3
23.6
21.7
26.8
26.1
24.3
22.8
A53. $10,000
and over
14.6
Percent distribution of national income, by type
(Johnston-OBE)
Decade
or 5-year
average
A54. Employee A55. Propriecompensation tors' income
A57. Corporate
profits before
A56. Rental
taxes and
income of
inventory
persons
valuation
adjustment 2
A58. Net
interest
Total national
income
55.0
53.2
23.6
9.1
6.8
1910-19*
24.2
7.7
9.7
5.5
5.2
1920-29*
60.5
17.6
7.6
8.2
6.2
100
1930-39
66.7
16.3
4.3
5.8
6.8
100
1940-49
64.6
17.4
3.4
13.2
1.4
1950-59
68.3
4.1
100
100
70.7
13.3
12.4
1.3
1960-65
13.1
10.6
2.7
100
1900-09*
3.6
1 C o n s u m e r units refer to f a m i l i e s a n d u n a t t a c h e d i n d i v i d u a l s .
2 I n c l u d e s an i n v e n t o r y a d j u s t m e n t since 1 9 2 9 only.
See a p p e n d i x 2 f o r series d e s c r i p t i o n s a n d s o u r c e s . B e c a u s e of r o u n d i n g , p e r c e n t a g e s m a y not a d d t o 1 0 0 .
* T h i s is a c o p y r i g h t e d series; it m a y n o t be r e p r o d u c e d w i t h o u t w r i t t e n p e r m i s s i o n f r o m t h e p u b l i s h e r .
22
(See a p p e n d i x 2.)
100
100
part 0
chart K M
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input
23
part m
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
chart ^ ^ H Input—continued
24
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input
25
part m
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input—continued
*This is a copyrighted series: it may not be reproduced without written permission from the publisher. (See appendix 2.)
26
part
chart H ^ H
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input—continued
27
part B B
chart ^ ^ H
Digitized 28
for FRASER
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input-continued
part m
chart
4 This
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input—continued
is a copyrighted series; it may not be reproduced without written permission from the publisher. (See appendix 2.)
230-193 O - 66 - 3
29
part U
chart
Digitized30
for FRASER
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input-continued
part
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input—continued
31
part
chart
Digitized32
for FRASER
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input-continued
part U
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Input-continued
'Stocks based on Bulletin F lives.
based on lives 20 percent shorter than Bulletin F.
2 Stocks
33
part m
chart ^ ^ H
34
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Productivity
part m
chart
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Productivity—continued
35
part m
chart
36
AGGREGATE OUTPUT, INPUT, AND PRODUCTIVITY
Productivity-continued
Part
PROCESSES RELATED TO ECONOMIC GROWTH
Measures of various processes related to economic growth are presented in this part. These
measures include the utilization of labor and
capital; sources of productivity increases such
as education and research and development;
and "background" economic variables such as
prices, wages, profits, saving, debt, and the
money supply.
utilization of labor and capital
Four groups of utilization measures are presented: (1) Unemployment rate and hours of work; (2) labor force participation rates; (3) capital utilization; and (4)
cyclical and seasonal variability.
The first group are measures of the utilization of the labor force including the unemployment rate, and weekly and annual hours of work.
Hours of work per employee is one of the determinants of total man-hours presented in part I as
a measure of labor input. The rate at which its
long-term downward trend continues is considered an important determinant of the future
rate of growth of total GNP.
The second group of utilization measures are
the labor force participation rates which indicate
the proportion of the population employed or
seeking work. On an overall basis, the participation rate has been fairly stable with a little
under 60 percent of the population in the labor
force. The components, by age and sex, however, show different long-term trends. Rates
for women, ages 20 to 64 years, have been rising
sources of productivity increases
Three groups of
series are presented here as sources of productivity increases: (1) Measures of educational
preparation; (2) measures of medical research
and health standards; and (3) measures of research and development.
The first group includes the various measures
of the educational preparation of our population.
Elementary and secondary school enrollment is
shown as a percent of the 5 to 17 years age group
of the population, while higher education enrollment is expressed as a percent of the 18 to
21 years age group. Two other determinants of
the quantity of education are shown—the average length of the public school term and the
average annual attendance per public school
pupil. The cumulative effect of this increased
education over time is reflected in the median
years of school completed by persons 25 years
and older.
since 1890 when the data were first available,
while the male rates for the age groups 14 to 19
years and 65 and over have been declining.
The third group of utilization measures are
measures of capital utilization.
Unfortunately,
these data are much more sparse and less reliable than for labor input. The available measures are limited to manufacturing and show
manufacturing output as a percent of estimated
capacity.
The fourth group of utilization measures are
measures of cyclical and seasonal variability in
the economy. (They do not follow the above
measures, but appear at the end of the part.)
The moderation in the cyclical amplitude of GNP
and industrial production since World War II, indicated in the measures presented here, may
hold many implications for economic growth.
The measures of seasonal variations are partial,
but have been included as a reminder that the
operation of the economy is geared to various
seasonal patterns of supply and demand.
The association between educational levels
and income is illustrated by the distribution of
median income of males by educational categories: 8 years of elementary school; 4 years of
high school; and 4 or more years of college. In
addition, measures of total expenditures in the
educational system and expenditures per student by public schools and by institutions of
higher learning are presented.
These data have several limitations for studying the educational sources of economic growth.
The differences in income by attained education
levels reflect, in addition to education, many
other factors such as family background, intelligence, and motivation. The education expenditure series are in current dollars; hence, it is
difficult to separate expenditure increases resulting in improved educational quality from
those merely reflecting price-level changes.
The second group of series are crude meas-
37
ures of the quantity of medical research and of
the health standards of the population. The
health improvements pictured by these series
can be considered as affecting both the productive efficiency and the quantity of labor. Public
expenditures for medical research include all
funds expended by Federal, State, and local governments. An approximate long-term measure
of the overall effectiveness of medical care is
presented by the series on average life expectancy at birth; although it should be borne in
mind that much of the gain in life expectancy reflects the sharp reduction in the infant death
rate. An approximate measure of the prevalence of mental illness is reflected in the series
on patients in mental hospitals. Days of work
lost because of illness, a very short series beginning in 1958, indicates that about 2 percent
of potential annual employment is usually lost
because of illness or injury. During 1958, the
year of the first Asian flu epidemic about 2l/z
background economic variables
Additional economic
variables are presented here, which represent
either prices or various aspects of the saving and
investment process that are not shown directly
in the data presented on investment and capital
stocks in part I. These variables are frequently
given a secondary role in studies of economic
growth, and are presented here as "background" economic variables which may be
viewed as potential building blocks for constructing improved and extended models of economic growth.
When studying the charts, it should be kept
in mind that, with the exception of real wages,
the series presented in dollars such as saving,
profits, and the money supply are in current
dollars and, hence, tend to have stronger upward
trends than do most of the constant-dollar series
in part I.
Six broad measures of prices are presented
first. They are the implicit price deflators for
GNP, gross private domestic product, personal
consumption expenditure, fixed investment, and
the wholesale and consumer price indexes. For
many purposes, the price deflator for gross private domestic product is considered a better
measure of the overall price level than the deflator for GNP because of the technique used to
estimate the government and "rest of the world"
product in GNP. Next a series measuring real
wages of production workers in manufacturing is
shown. Four measures of interest rates on
long-term securities of varying degrees of risk
and differing periods to maturity followed by
four series measuring short-term interest rates
38
percent of potential employment was apparently
lost.
The third group of productivity increases are
the available measures of research and development. The total funds specifically provided
over the past decade for the conduct of scientific
research and development, compiled by the National Science Foundation, is shown here by each
major source of funds: Federal Government, industry, colleges and universities, and other nonprofit institutions. Even though extremely
crude, as indicated by the large jumps in level as
the data sources change, data for earlier years
for the total and industry component have been
pieced together from various sources and presented to provide an indication of strong upward
trends since 1930 when the first data were available. Also, the number of patent applications
are shown as a partial measure of the increasing
level of research and development over the past
century.
and an index of stock prices conclude the presentation of price seriesCorporate profits before and after taxes, internal sources of funds, and corporate security
issues for new capital provide indications of
corporate financing of investment, one aspect of
the total saving and investment process. The
corporate series are followed by data on total
annual gross saving and the sources of saving:
Personal saving, corporate saving, government
saving, and capital consumption allowances.
Two indexes are presented for each series—one
developed by OBE and the other by Raymond W.
Goldsmith. OBE's estimates are based on current income and expenditure flows occurring
during each year, and are shown only for the
post-1929 period. For earlier years and for an
overlapping period, Goldsmith's balance sheet
estimates are also shown. These estimates are
derived by taking saving as equal each year to
the change in assets less the change in liabilities.
Next, are presented the total public and private debt series which illustrate the trend and
magnitude of indebtedness in the Nation's economy and how this debt is distributed among
government, corporate firms, and noncorporate
firms and private individuals. Finally, the total
assets of financial intermediaries and the two
principal components, banks and life insurance
companies, are presented. These series indicate trends in the flow of funds from savers to
investors.
Following the saving and investment data,
measures reflecting two concepts of the money
supply are shown. The first is defined as the
sum of public holdings of coin and currency and
of demand deposits at commercial banks, while
the second includes these items plus time deposits. Related to the money supply are the
series on the income velocity of money defined
as the ratio of the value of total output (i.e., GNP
or net national product) to the money supply.
Three measures summarizing the net financial
effects of U.S. trade with the rest of the world
are the final "background" variables shown.
They are the net U.S. balance of payments, net
exports of goods and services, and the monetary
gold stock.
39
part
chart
s This
PROCESSES RELATED TO ECONOMIC GROWTH
Utilization of labor and capital
is a copyrighted series; it may not be reproduced without written permission from the publisher. (See appendix 2.)
Digitized40
for FRASER
part
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Utilization of labor and capital—continued
*Data for 1900 to 1939 are copyrighted. These data may not be reproduced without written permission from the publisher. (See Appendix 2.)
41
part m
chart
PROCESSES RELATED TO ECONOMIC GROWTH
| H Utilization of labor and capital—continued
-This is a copyrighted series; it may not be reproduced without written permission from the publisher. (See appendix 2.)
42
part
chart ^ ^ H
part
PROCESSES RELATED TO ECONOMIC GROWTH
Education
Enrollment and expenditure
43
part
chart
part ^ Q l
44
pr
°CESSES
RELATED TO ECONOMIC GROWTH
Education—continued
Enrollment and expenditure—continued
part
chart
part
230-193 O - 66 - 4
PROCESSES RELATED TO ECONOMIC GROWTH
Education-continued
Income by education level
45
part U
chart
46
l
PROCESSES RELATED TO ECONOMIC GROWTH
Medical research and health standards
part m
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Medical research and health standards— continued
47
part O H
chart
48 FRASER
Digitized for
PROCESSES RELATED TO ECONOMIC GROWTH
Research and development
part ^ Q l
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Research and development—continued
49
part m
chart
Digitized 50
for FRASER
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables
part B H
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
51
part m
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables-continued
"This is a copyrighted series; it may not be reproduced without written permission from the publisher. (See appendix 2.)
Digitized52
for FRASER
part •
chart
•
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
53
part |
chart
54
B
pr OCESSES
RELATED TO ECONOMIC GROWTH
Background economic variables-continued
part I
chart
B
PROCESSES RELATED TO ECONOMIC
Background economic variables—continued
' This is a copyrighted series;
GROWTH
it may not be reproduced without written permission from the publisher.
(See appendix 2.)
55
part ^ Q l
chart ^ ^ ^
56
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
part m
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
57
part
chart ^ ^ ^
Digitized58for FRASER
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
part m
chart
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
59
part ^
chart
60for FRASER
Digitized
^
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables—continued
PROCESSES RELATED TO ECONOMIC GROWTH
Background economic variables-continued
RATIO SCALE
1860
1870
2 3 0 - 1 9 3 O - 66 - 5
1880
1940
1950
1960
1970
61
PROCESSES RELATED TO ECONOMIC GROWTH
Seasonal and cyclical fluctuations
Seasonal fluctuations (Census Bureau)
Implicit seasonal f a c t o r s
Series a n d y e a r
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Summary measures
Sept.
Oct.
Nov.
Dec.
Range
S
0
S/0
of S
G N P , c u r r e n t dollar: 1
1956
—
96
—
—
99
1963
—
95
—
—
100
—
—
99
—
98
—
—
106
10
4.7
5.8
.81
106
11
5.7
6.2
.92
I n d u s t r i a l production index:
1956
100
101
101
101
99
100
94
99
101
103
101
99
9
1.9
2.8
.68
1963
98
100
101
100
100
102
96
99
102
103 ! 101
98
7
1.8
2.2
.82
1956
118
120
112
102
98
111
100
90
85
80 :
91
95
40
9.2
10.6
.87
1963
116
117
111
98
95
112
100
95
87
84
93
96
33
8.5
9.1
.93
U n e m p l o y m e n t rate:
Civilian e m p l o y m e n t :
1956
97
97
98
99
100
102
102
102
101
102
101
99
5
1.0
.9
1.11
1963
97
97
98
99
101
102
101
102
101
101
100
99
5
1.1
1.2
.92
New
construction
put
in
place:
1956
83
79
85
93
101
109
112
114
114
111
105
95
35
6.1
6.2
.98
1963
79
71
82
94
104
114
115
116
112 1 112
105
94
45
8.3
8.6
.97
89
88
99
97
102
105
98
102
98
101
102
120
32
7.3
8.0
.91
90
84
96
101
105
101
100
102
94
104
104
120
36
8.0
8.0
1.00
94
90
98
100
104
97
101
102
99
110
102
101
20
4.7
Retail sales: 2
1956
1963
Sales
of
merchant
whole-
salers: 2
1963
1 Quarterly data.
2 Factors are a combination of seasonal and trading-day factors.
GENERAL NOTE: This table measures the effects of seasonal influences upon various economic activities. Such influences tend to be
both recurrent and periodic. The implicit seasonal factor for any
month is obtained by dividing the originaI(i.e., non-seasonally adjusted
data) for the month, by the seasonally adjusted data.
In addition to the seasonal influences, the effects of variations in
the number of trading days per month are included in the seasonal
factors for the series on retail sales and sales of merchant wholesalers.
The variability of seasonal factors is indicated by two summary
62
4.9
.96
measures. The range of S simply measures the difference between
the values of the highest and the lowest monthly seasonal factor for
each series for each year. The measure S is the average month-tomonth percent change, computed without regard to sign in the implicit seasonal factors. The 12-month span used in computing the
percent changes for 1956 and 1963 begins with December of the
preceding year and ends with December of 1956 or 1963. The
measur_e 0 is a like measure using the values of the original data.
The S / 0 indicates the relative magnitude of seasonal to total variation
in the monthly data.
The implicit seasonal factors and the summary measures for this
table were computed at the Bureau of the Census.
PROCESSES RELATED TO ECONOMIC GROWTH
Seasonal and cyclical fluctuations—continued
Cyclical fluctuations for industrial production and
gross national product (Census Bureau, NBER)
A V E R A G E S OF CYCLES
1 7 S P E C I F I C CYCLES
IN I N D U S T R I A L P R O D U C T I O N S I N C E
Trough
Peak
IN INDUSTRIAL PRODUCTION SINCE
1892
Duration
Average
in
per m o n t h
months 1
Cycles a v e r a g e d
percent
percent
months 1 change 2
48.9
1.2
3 cycles, 1 8 9 2 to 1 9 0 3 .
45.3
l.O
0.9
5 cycles, 1 9 0 3 to 1 9 2 0 .
39.6
1.2
1.0
5 cycles, 1 9 2 0 to 1 9 4 3 .
57.0
1.5
46
1.1
4 cycles, 1 9 4 8 to 1 9 6 5 .
53.0
0.7
March 1 9 1 0
34
January 1 9 1 3
34
1.8
0.8
52
1.1
32
1.3
1 7 cycles, 1 8 9 2 to d a t e .
March 1 8 9 2
44
1.3
September 1 8 9 6 . . June 1 9 0 0
55
October 1 9 0 0
July 1 9 0 3
37
December 1 9 0 3 . . - May 1907
May 1 9 0 8
January 1 9 1 1
November
1895_
November 1 9 1 4 . . . May 1 9 1 7
March 1919
Average
d u r a t i o n per m o n t h
In
change 2
October 1 8 9 3
1892
Average
January 1 9 2 0
5 S P E C I F I C CYCLES I N GROSS N A T I O N A L P R O D U C T
(Quarterly Data)
Trough
Peak
February 1 9 2 0 .
Average
in
per m o n t h
months!
April 1 9 2 1
May 1923
39
2.2
July 1 9 2 4
March 1 9 2 7
46
0.9
N o v e m b e r 1927___ July 1 9 2 9
28
1.0
July 1 9 3 2
May 1937
94
1.6
May 1 9 3 8
November
78
1.7
1943.
Duration
percent
change 2
1929, 3d Q_.
1932, 3d Q
1937, 3d Q . .
96
0.9
1948, 4th Q.
July 1 9 4 8
October 1 9 4 9
July 1 9 5 3
60
0.8
1949, 2d Q
1 9 5 3 , 2 d Q_
54
0.5
April 1 9 5 4
February 1 9 5 7 .
43
0.6
1954, 2d Q
1957, 3d Q.
51
0.3
April 1 9 5 8
J a n u a r y 1960__
35
1.0
1 9 5 8 , 1st Q
1960, I s t Q .
30
0.5
February 1 9 6 1
March
74
0.6
1961, I s t Q
1966, IstQ.'
72
0.4
1966
l A complete cycle is measured from ona peak to the next.
3 Recent business cycle high;
2 Computed without regard to sign.
not a specific peak.
GENERAL NOTE: This table presents measures of cyclical activity in
the U.S. economy. Both cyclical duration (measured in months from
peak to peak) and cyclical amplitude (the average month-to-month
percentage change computed without regard to sign) are shown.
The method for computing the percentage changes is explained in
detail on pages 131 to 141 of Measuring Business Cycles by Arthur F.
Burns and Wesley C. Mitchell, National Bureau of Economic Research
(1947). The most recent cycle high is taken as a specific peak so that
the latest cyclical activity can be included in the table.
The " 1 7 specific cycles in industrial production since 1892:"
cycles from March 1892 to January 1920, are based on the Babson
index of physical volume of business activity; the cycles from February
1920 to the present are based on the Federal Reserve Index of Industrial Production. The cycle from November 1943 to July 1948 has
been omitted from the table.
The "Averages of cycles in industrial production since 1 8 9 2 " is
a composite of the 17 specific cycles showing measures of average
duration and average per month rates of change for all of the 17 cycles
as a group, 3 cycles from 1892 to 1903, 5 cycles from 1903 to 1920,
5 from 1920 to 1943, and the 4 from 1948 to present.
The data above are from Business Cycle Developments Technical
Paper No. 6, "The Current Expansion in Historical Perspective," by
Julius Shiskin, U.S. Department of Commerce, Bureau of the Census.
Slight changes have been made in the table entries to incorporate
more recent data.
The " 5 specific cycles in gross national product" measures specific
cycles in quarterly GNP in constant dollars from 1929 to the present.
The data for the cycle from 1929 to 1937 are in 1939 dollars and were
supplied by the National Bureau of Economic Research. The data
for the subsequent cycles are in 1958 dollars, as published in the
Survey of Current Business, U.S. Department of Commerce, Office of
Business Economics.
63
Part
REGIONAL AND INDUSTRY TRENDS
Over 600 regional and industry components
of aggregate output and input measures are
shown in this part. These component series
are presented in various summaries designed to
indicate the great variety of trends underlying
the national aggregates and to spotlight those
industries and regions undergoing the most
rapid rates of increase or decrease.
regional trends
ever, do not nullify the usefulness of these data
as indicators of past and current levels of
regional economic growth.^
Measures of value added, employment, and
new capital expenditures in manufacturing, derived from the census of manufactures and the
annual survey of manufactures, and various
ratios computed from them provide approximate
measures of growth in regional industrial capacity. The ratio of value-added to employment,
for example, is a crude approximation to oiitput
per employee, while the ratio of manufacturing
employment to total population may be considered to measure roughly the degree of industrialization in a region. Similarly, the ratio of
new capital expenditures to value added by
manufacture indicates in broad terms the relationship between capital investment and regional
growth of industrial output. Two limitations of
the measures of regional manufacturing activity
presented in this section are that no account is
taken of the differences in industrial structure
which exist among the geographic divisions and
that the value-added and capital-expenditure
data are in current dollars.
industry trends
This section shows first the shifts in importance, since 1869, among the various industry sectors, such as agriculture, manufacturing,
and services. The significance of each industry
division, relative to the total economy, is presented in terms of current-dollar national income
data and employment data. The national income data measure the income originating in
each industry division, while the employment
series show, on a roughly comparable basis, the
number of persons engaged in producing goods
and services in each division.
Two supplementary analyses of these industry
sectors are also presented. One compares the
percentage changes in national income originating in the major components within each industry division. The other shows the growth of
each industry division as measured in constant
dollar GNP data during the post-World War II
period, the period for which the constant dollar
data are available.
In the first supplementary analysis, the per-
1 Some recent studies of these limitations have been made.
George Borts estimated income produced by States for the
years 1929 and 1953. He found that his estimate differed
from the income-received data by almost as much as 10 percent, in some census geographic divisions, due mostly to
enterpreneurial income which arose from production in one
region which was received by residents of another region. Dr.
Borts concluded that these regional differences are relatively
stable, however, and have little effect upon comparisons of longterm trends. His study also suggested that regional differ-
ences in income produced were smaller than those in income
received. Richard Easterlin, after considering the extent to
which regional price differences exist, stated tentatively that
fragmentary evidence suggests that corrections for interstate
price levels would reduce differences between States, but not
enough to alter the basic pattern discerned in the data. In a
recent study (at OBE) of disposable personal income by States
in current and constant dollars, it was found that there have
been few differences in regional price movements since 1929.
See the source references in appendix 2 for more details.
Trends in the overall levels of regional activity since the late 1800's are presented in
terms of population, personal income, and per
capita personal income for the 9 census geographic divisions and in terms of per capita personal income for each of the 50 States. Trends
in manufacturing as measured by value added,
employment, and capital investment are also
shown for the geographic divisions.
Personal income may be considered as a
proxy for "regional GNP," since there is generally a close relationship between the output
produced and personal income received by the
residents of a geographic region. When using
personal income as a measure of regional
growth, two limitations should be considered:
First, the estimates for income received may, in
fact, differ somewhat from income produced by
residents of the region; second, since personal
income is estimated in current dollars, changes
observed over time may be due to changes in
the price level. Likewise, differences in personal income among the various regions may reflect regional price differences as well as differences in actual output. These limitations, how-
65
centage changes are computed for the period
1929 to the 1948-53 business cycle average
and from the 1948-53 average to the average of
the current period, 1960-65. Thus, for example, within the transportation division, the
post-World War II increase in trucking may be
compared with that for the 1929 to 1948-53
period or the increase in trucking may be compared with that for railroads or airlines.
In the second supplementary analysis, the
growth rate for each industry division, from the
1948-53 business cycle average level to the
1957-60 business cycle average, is compared
with the growth from the 1957-60 average to
the average of the current period, 1960-65.
(These constant-dollar GNP series have not been
revised to reflect the definitional and statistical
revisions introduced by QBE in 1965.)
Part III concludes with various summaries of
the trends within the manufacturing sector.
Manufacturing represented about 20 percent of
the total U.S. economy in the early 1900's and
constitutes about 30 percent today. Analysis
of its growth characteristics is frequently considered to be of more importance than the 20 to
30 percent weight might suggest.
Historical trends are presented for 19 of the
major industry groups - comprising the manufacturing sector of the economy. Value added
by manufacture in current dollars, compiled in
the census of manufactures, is used to approximate, roughly, the national income or share of
national output originating in each industry
group, relative to all manufacturing, for selected
years since 1899. To analyze trends in actual
physical output of these industry groups, growth
rates of the Federal Reserve indexes of produc-
computation of business cycle averages The
business cycle averages used in this part are determined by computing the average from one
NBER reference peak to the next, assigning half
weight to each peak value. This results in a
smoothed series with one "representative" value
per business cycle. (Similar averages can be
taken from reference trough to reference trough,
but they are not used in this report.) The NBER
dates of peaks and troughs of business cycles in
the United States, 1834 to 1965 (NBER Annual
Calendar Year Reference Cycle Dates) are as
follows:
2 The groups are the 2-digit Standard Industrial Classification
(SIC) groups as defined in the Standard Industrial
Classification Manual, Executive Office of the President, Bureau of the
Budget (1957 and Supplement). They are groups such as
food, apparel, and fabricated metals.
3 For another analysis of rapidly and slowly growing activi-
66
tion computed from the average for the 1923-26
business cycle to the 1948-53 business cycle
are compared with those computed from the
1948-53 business cycle to the current period
(1960-65). The post-World War II period is
considered in more detail by comparing growth
rates computed from the 1948-53 business
cycle to the 1957-60 business cycle with that
from 1957-60 to the current period (1960-65).
To spotlight industries which have been growing rapidly or slowly during the post-World War
II period, a presentation at finer levels of industry detail than the major groups is included.
Growth rates are shown, for the periods 194853 to 1957-60 and 1957-60 to 1960-65, for
125 of the 190 components of the Federal Reserve manufacturing index of physical output;
similarly, percentage changes are shown for 237
of the 425 manufacturing industries for which
Census current-dollar value-added data are
available.
The coverage of manufacturing industries in
this report is not complete for the entire period
under study. This is due partly to numerous
changes in the industrial classification system
for manufacturing over the years, which made
earlier data for particular industries noncomparable with later figures. It is also due to
changes in the scope of the census of manufactures in certain years. Also, rapidly expanding industries, such as electronic equipment,
guided missiles, plastic products, etc., were not
covered adequately in earlier census years, because of the difficulties inherent in identifying
and obtaining data on such new industries as
they emerged in the economy. ^
Trough
Peak
Trough
Peak
1834
1838
1843
1846
1848
1855
1858
1861
1867
1870
1878
1885
1888
1891
1894
1896
1836
1839
1845
1847
1853
1856
i860
1864
1869
1873
1882
1887
1890
1892
1895
1899
1900
1904
1908
1911
1914
1919
1921
1924
1927
1932
1938
1946
1949
1954
1958
1961
1903
1907
1910
1913
1918
1920
1923
1926
1929
1937
1944
1948
1953
1957
1960
;
^
i
ties, see Francis HIrt, "Patterns of Output Growth," in the
September 1964 Survey of Current Business.
In this article,
growth rates in the output of specific products and services,
rather than Industry growth rates, as in this report, are compared. Hirt's analysis also Includes series from Industry sectors other than manufacturing.
In some instances, data are not available annually and this averaging procedure cannot be
followed exactly. In such instances, a different
grouping of years is selected as being more appropriate to average. Also, comparisons based
on the current cycle, 1960 to date, are shown
even though they are not based upon a complete
business cycle. In each case, the years which
are averaged are shown on the charts and table
stubs. Averages designated " 1 9 4 8 - 5 3 " signify that the annual data for the years 1948
through 1953 were averaged by assigning full
weights for the years 1949 through 1952 and
only half weights to 1948 and 1953.
67
cn
00
CENSUS GEOGRAPHIC REGIONS AND DIVISIONS OF THE UNITED STATES
U.S. DEPARTMENT OF COAAMERCE
BUREAU OF THE CENSUS
REGIONAL AND INDUSTRY TRENDS
Income and population for the United States
and geographic areas
Per capita personal income
RATIO SCALE
3000
2500
2000
U.S.
1500
M I 11 I I i I TTT I I I I I I T l I I I I I I I
IIIII IIII
i I I I I I I I I TTTT] I I M
I M I I II II
RATIO SCALE
3000
2500
2000
1500
M I IIM M
PER CAPITA PERSONAL INCOME
1000
1000
800
600
800
600
01. U.S. Per Capita Personal Income-APS
(Easterlin)-OBE (Dollars)
400
400
200
200
ARITHMETIC SCALE
ARITHMETIC SCALE
200
West South Central
South Atlantic
^yiflJWM&JWSi
I860
1870
1880
Year or
Cycle
1880
1900
1919-211
1929
1929-37
1937-44
1944-48
1948-53
1953-57
1957-60
1960-65>
1965
United
States
(current
dollars)
;
174
202
650
703
500
756
1,278
1,576
1,890
2,120
2,425
2,724
1940
1930
1960
liLnJjPAiL;.
1970
Percent geographic division is of United States
New
England
Middle
Atlantic
141
135
125
125
133
121
109
107
146
143
136
139
140
125
120
108
115
109
110
109
116
116
115
113
East
North
Central
West
North
Central
South
Atlantic
102
90
98
87
52
51
64
81
66
79
85
93
95
91
93
94
95
72
78
107
109
114
108
112
110
112
112
108
107
109
80
81
82
82
85
86
East
South
Central
52
50
53
50
48
55
62
West
South
Central
Mountain
Pacific
60
168
61
140
101
83
84
91
94
96
92
95
94
91
205
163
136
130
129
134
125
120
72
62
60
70
77
66
81
82
67
83
69
70
82
81
63
118
118
117
114
' Period does not cover a complete business cycle.
See series C I to CIO in appendix 2 for sources and in appendix 3 for basic data. From 1929 to 1965, data are annual. Before 1929, data are available for 1880,1900,
and an average for the period 1919 to 1921.
69
REGIONAL AND INDUSTRY TRENDS
Income and population for the United States
and geographic areas-continued
Personal income
RATIO SCALE
600
RATIO SCALE
I II IIIIII
400
111111111
IIIIII II I
IIIIIIIII
MINIMI
IIIIIIIi I
I II IIM II
M II M I I
M M M I I!
I I 11 M M I
600
I! M i I I
400
U.S. PERSONAL INCOME
200
-
200
100
80
60
z
z
-
80
60
40
-
100
VA
C61. U.S. Total Personallncome-APS
(Easterlin)-OBE (Billions of Dollars)
40
20
-
10
= 10
^ 8
ARITHMETIC SCALE
8
ARITHMETIC SCALE
GEOGRAPHIC DISTRIBUTION OF PERSONAL INCOME (PERCENT)
35 I -
Middle Atlantic
30
25
East North Central
20
15
West North Central
New England
10
South Atlantic
East South Central
0
Pacific
West South Central
Mountain
5
0
1870
1860
Year or
Cycle
1880
1900
1919-211
1929
1929-37
1937-44
1944-48
1948-53
1953-57
1957-60
1960-65>
1965
United
States
(millions of
current
dollars)
$
8 ,740
15 ,390
69 ,277
85 , 6 6 1
62 ,650
100 492
178 465
240 435
310, 828
371, 010
454, 542
527, 890
1900
1940
1950
1960
1970
Geographic distribution of personal income (percent)
New
England
11.3
9.9
8.7
8.3
8.8
7.8
6.9
6.6
6.5
6.4
6.4
6.3
Middle
Atlantic
East
North
Central
West
North
Central
30.4
29.0
28.5
29.6
30.0
25.4
23.7
23.1
22.7
22.3
21.7
21.2
22.8
22.4
22.2
23.6
22.1
22.4
22.1
22.7
22.9
22.0
21.2
21.4
11.1
13.3
10.3
8.9
8.5
8.4
8.7
8.7
8.1
8.1
7.9
7.8
South
Atlantic
East
South
Central
West
South
Central
7.9
7.1
8.4
8.5
9.3
5.7
4.9
4.4
4.0
3.9
4.4
4.8
4.7
4.6
4.5
4.6
4.6
4.0
5.2
7.0
11.0
11.4
11.4
11.6
11.9
12.4
12.8
6.1
6.0
6.9
7.5
7.9
7.8
7.9
7.8
7.8
Mountain
Pacific
2.2
4.6
5.2
7.3
8.5
3.1
3.2
2.5
2.5
2.9
3.0
3.2
3.3
3.6
3.7
3.6
8.8
10.8
11.9
11.8
12.6
13.3
14.4
14.4
' Period does not cover a complete business cycle.
See series C61 to C70 in appendix 2 for sources and in appendix 3 for basic data. From 1929 to 1965, data are annual. Before 1929, data are available only for 1880, 1900, and
an average for the period 1919 to 1921.
Digitized 70
for FRASER
20
REGIONAL AND INDUSTRY TRENDS
Income and population for the United States
and geographic areas-continued
Resident population
RATIO SCALE
TTTT
200
180
160
U.S.
140
120
100
RATIO SCALE
200
r T T T T T T T T I I I I I | I I I I I I I i I M I M I I I M | M M I I M I M 111 I 11 M I M I I I 1111 111 I I M
180
160
140
120
RESIDENT POPULATION
100
80
80
C71. U.S. Total Resident PopulationCensus (Millions)
60
60
40
40
ARITHMETIC SCALE
ARITHMETIC SCALE
GEOGRAPHIC DISTRIBUTION OF POPULATION (PERCENT)
25
IVI ddte Atlantic
25
East North
20
15
10
, ^
^ ^
7 "
/ ^^
West South Central
,
5
....-—^
Mountain
1860
1870
1880
1890
1900
1910
s
0
1920
1930
1940
1950
1960
1970
Geographic distribution of population ( p e r c e n t )
Year or
Cycle
1860
1870
1880
1890
1900
1910
1919-2H
1929
1929-37
1937-44
1944-48
1948-53
1953-57
1957-60
1960-651
1965
United
States
(thousands
of
persons)
New
England
Middle
Atlantic
East
North
Central
West
North
Central
South
Atlantic
East
South
Central
West
South
Central
31,443
38,558
50,156
62,948
76,094
92,407
106,506
121,770
125,564
132,413
139,444
152,213
164,271
174,930
187,176
193,818
10.0
9.0
8.0
7.5
7.3
7.1
7.0
6.7
6.6
6.4
6.3
6.1
6.0
5.9
5.8
5.7
23.7
22.9
20.9
20.2
20.3
21.0
20.9
21.3
21.4
20.5
19.8
20.0
19.7
19.3
18.9
18.8
22.0
23.7
22.3
21.4
21.0
19.9
20.4
20.7
20.4
20.1
20.1
20.3
20.5
20.4
19.8
19.7
6.9
10.0
12.3
14.2
13.6
12.6
11.8
10.9
10.8
10.0
9.3
9.2
8.9
8.6
8.4
8.2
17.1
15.2
15.1
14.1
13.7
13.3
13.2
12.9
12.8
13.9
14.3
14.1
14.2
14.5
14.7
14.8
12.8
11.4
11.1
10.2
9.9
9.1
8.4
8.1
8.1
8.1
7.7
7.5
7.0
6.7
6.7
6.6
5.6
5.3
6.6
7.5
8.6
9.6
9.7
9.9
lo.l
10.0
9.7
9.7
9.5
9.5
9.5
9.6
Mountain
Pacific
0.6
0.8
1.3
1.9
2.2
2.9
3.1
3.0
3.0
3.1
3.2
3.4
3.6
3.8
4.0
4.0
1.4
1.8
2.2
3.0
3.2
4.6
5.4
6.6
6.8
7.8
9.5
9.8
10.6
11.3
12.3
12.6
' Period does not cover a complete business cycle.
See series C81 to C90andC91toClO in appendix 2 for sources and in appendix 3 for basic data.
71
REGIONAL AND INDUSTRY TRENDS
Income and population for the United States
and geographic areas -continued
Average annual percent change of per capita personal income
(1880 to 1929 compared with 1929 to 1960-65)
National average
+6.0
~r~i I I I I I I I
I I I I j I I I I
I I I I I I I
r
I I I I I I I
I
I I I I j I I
r
Above national average in both periods
Above national average in recent period, below in early period
S.C.
N. Dak.
N.C.
Ark.' ^
+5.0
Ala.* I
N. Mex.« I
Va.
Miss.*
DESCTenn.
Ky.*
I
•
WSCD
•
asA
Okia*
•Tex.
S. Dak.
Idaho
Mont.
g+4.0
Ariz.
WNC I . .
Iowa •
w
• •
• I •Utah
Minn,
N
e
b
r
.
®
^
Oreg.
Colo.
•
P
O
Calif.
en
esi
at
Va
•
Wash.
Wis. ^
•N.H.*
•Md.
'Vt Mi ine
• ENC
!N.JT
Oh^
.--^Ohio
Pa.. /
Mich.
Mass.
l^NEcolir
•
•
R.I.*
maO
Del.
National
average
N Y.
Below national average in recent period, above in early period
I It
+3.0
I I ' I
I
t
I
+4.0
I
I
I
+5.0
I
I
•
111
+6.0
Average Annual Percent Change (1880 To 1929]
•
Indicates States
•
Indicates geographic divisions
See series C I to C60 in appendix 2 for sources and in appendix 3 for data. For North Dakota. South Dakota, and Oklahoma, growth rates were computed from 1900
since data for 1880 were not available. A combined estimate for North and South Dakota is included in the 1880 West North Central Division.
Digitized for
72 FRASER
REGIONAL AND INDUSTRY TRENDS
Income and population for the United States
and geographic areas—continued
Average annual percent change of per capita personal income
continued
(1929 to 1948-53 compared with 1948-53 to 1960-65)
National average
7.0
11
I
I
I
r
t
I
I
1 I
t 1
t i l l
1 I
I
I
I
T
I
i''r"i'|""i
i I *—I
I r I I I I i r
i
Above national average in recent period, below
in early period
i * i i | i i i i
Above national atl^age in both periods
6.0
R.I.
5.0
A!a.
Ark.
E^
• Ga.
Miss.(
Vt.«
Fla.
Mass.(
4.0
NE
•
2
V
>
NJ..
»
• • Pa.* I^^fl
III.
DP
•
ENC
MA •
c
r,
Minn.
OWa.^^Kans.
Mo.^^Utah
Md.(
Conn.
N.Y.^
• N.C.
•N. Max.
Ky.
t»0
foi
a
Tenn.
N.H.,
3.0
Del."
S.C.
N. Dak.»
National
average
W.Va.*«
OWNC La. WSC
Wis. Ariz.^o'° « 4 n ^ •
•
•Neb^^M
•Tex.
•Nev.
Wash.
#oreg. •
•Idaho
• S . Dak.
# Ohio
Iowa
f Mich.
<C
Wyo.<
u
-
Mont.
2.0
w
Below national average in recent period, above
in early period
Below national average in both periods
^ Q t
» > t
I
I
I
t
1.0
I
t
t
2.0
I J
1 II
I
1
1 I I
t I
t ;l,;.;l„
t t I
3.0
I
I
I
4.0
I
I
I
I
I
I
I
I
I
5.0
I
I
I
I
I
I
I
I
I
I
I
6.0
I
I
I
I
I 1
7.0
Average Annual Percent Change (1929 to 1948-53]
• Indicates states
•
Indicates geographic divisions
See series Cl to C60 in appendix 2 for sources and in appendix 3 for basic data.
73
REGIONAL AND INDUSTRY TRENDS
Manufacturing value added and employment for the United States
and geographic divisions
Value added by manufacture
RATIO SCALE
I I I I M I II I I I II II I II II
11111 M I M 11
-i200
U.S. VALUE ADDED BY MANUFACTURE
100 -
100
80 =
80
80
+ '
60 ^
40
-
20
-
C81. U.S. Total Value Added by Manufacture-Census
(Billions of Dollars) '
40
+-4
20
+
+
10
8
8
6
6
10
ARITHMETIC SCALE
ARITHMETIC SCALE
40
30
40
-
30
20
20
10
10
1870
1880
Year or
Cycle
1890
1880
United
States
(millions of
current
dollars)
1899
$ 4,647
8,160
1909
23,842
1919
30,591
1929
24,487
1939
74,290
1947
99,878
1949-531
132,928
1953-57
152,912
1957-60
1960-641 180,091
205,963
1964
1900
1910
1930
1940
1950
1960
1970
Percent distribution of U.S. total
New
England
Middle
Atlantic
East
North
Central
West
North
Central
South
Atlantic
East
South
Central
West
South
Central
Mountain
Pacific
15.7
14.0
12.9
10.2
10.0
9.1
8.3
7.6
7.4
7.4
7.0
36.5
35.0
33.7
31.9
30.2
27.9
26.3
25.3
24.4
23.2
22.3
24.9
25.5
28.5
31.3
30.8
31.6
32.8
31.6
29.7
29.2
29.5
6.7
6.6
5.6
5.9
5.6
5.5
5.7
6.0
6.2
6.1
6.3
6.5
6.9
7.4
7.7
9.2
9.3
9.1
9.3
10.1
10.8
11.1
3.1
3.4
2.7
2.9
3.4
3.9
3.8
4.1
4.4
4.6
4.9
2.0
2.8
2.9
3.0
3.4
4.1
4.6
5.1
5.4
5.6
5.9
1.6
1.6
1.2
1.2
1.1
1.1
1.2
1.4
1.6
1.8
1.7
2.9
4.1
5.1
6.0
6.4
7.5
8.3
9.7
10.9
11.3
11.3
' Period does not cover a complete business cycle.
See series C81 to C90andC91toClO in appendix 2 for sources and in appendix 3 for basic data.
Digitized 74
for FRASER
1920
REGIONAL AND INDUSTRY TRENDS
Manufacturing value added and employment for the United States
and geographic divisions—continued
Manufacturing employment
RATIO SCALE
MMMM
I|{||||IMI|IIM|MII|IIII|IIII|IIII|III!{||||||{M|IIII|MM|I
TTT
U.S. TOTAL MANUFACTURING EMPLOYMENT
20
C91. U.S. Total Manufacturing Employment-Census (Millions)
20
16
16
12
12
ARITHMETiC SCALE
ARITHMETIC SCALE
40 I-
-I
40
30
30
20
20
10
10
0«-
0
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
Percent distribution of U.S. total
Year or
Cycle
1899
1909
1919
1929
1939
1947
1949-531
1953-57
1957-60
1960-641
1964
United
States
(thousands
of persons)
4,850
7,012
9,837
9,660
9,527
14,294
15,160
16,333
15,938
16,396
17,280
New
England
17.7
16.0
14.4
12.2
11.8
10.3
9.6
9.0
8.8
8.7
8.2
Middle
Atlantic
East
North
Central
West
North
Central
South
Atlantic
East
South
Central
West
South
Central
34.1
33.6
32.0
29.4
28.9
27.6
26.7
25.9
25.1
24.2
23.7
23.2
23.4
27.0
28.9
28.3
30.2
29.8
28.8
26.9
26.4
26.8
5.8
5.9
5.8
5.6
5.2
5.5
5.8
5.9
6.0
6.0
6.1
9.5
9.7
8.6
9.8
11.7
10.7
10.9
11.2
11.9
12.4
12.6
3.7
3.9
3.5
4.1
4.3
4.4
4.4
4.6
4.9
5.2
5.3
2.4
3.1
3.1
3.3
3.5
3.9
4.2
4.6
4.9
5.0
5.3
Mountain
Pacific
.9
1.1
1.2
1.2
.9
1.0
1.1
1.2
1.5
1.7
2.6
3.3
4.6
5.5
5.5
6.4
7.6
8.9
10.0
10.5
10.3
1.6
> Period does not cover a complete business cycle.
See seriesC81toC90andC91to ClOO in appendix 2 for sources and in appendix 3 for basic data.
75
REGIONAL AND INDUSTRY TRENDS
Manufacturinq value added and employment for the United States
and geographic divisions—continued
RATIO SCALE
ARITHMETIC SCALE
ARITHMETIC SCALE
120
100
80
60
1870
1860
Year or
Cycle
1899
1909
1919
1929
1939
1947
1949-531
1943-57
1957-60
1960-641
1964
United
States
(current
dollars)
$
958
1,164
2,424
3,167
2,570
5,197
6,588
8,139
9,594
10,984
11,919
1900
1890
1880
1910
1940
1960
1950
1970
Percent geographic division is of United States
New
England
Middle
Atlantic
East
North
Central
West
North
Central
South
Atlantic
East
South
Central
West
South
Central
Mountain
Pacific
89
87
90
83
85
89
86
84
84
84
85
107
104
106
108
104
101
98
98
97
96
94
108
109
106
108
112
104
110
110
110
110
110
115
111
97
106
107
101
99
101
103
102
103
69
72
87
79
78
88
83
83
85
87
88
83
89
76
71
78
87
86
90
90
89
91
85
93
94
89
96
106
109
112
110
111
113
166
138
104
99
118
108
109
112
107
106
104
111
125
110
111
115
117
109
108
109
107
110
' Period does not cover a complete business cycle.
See series C81 to C90 and C91 to ClOO in appendix 2 for sources and in appendix 3 for basic data.
1930
1920
REGIONAL AND INDUSTRY TRENDS
Manufacturing value added and employment for the United States
and geographic divisions—continued
Manufacturing employment per 100 persons
ARITHMETIC SCALE
ll|llll|llll|llll|llll|ll|||llll|IIM{llll|MII|
U.S. MANUFACTURING EMPLOYMENT PER 100 PERSONS
9.50
9.50
VA
8.50
8.50
U.S. Manufacturing Employment
Per 100 Persons-Census (Number)
7.50
7.50
6.50
6.50
250
I -
200
150
100
50
0
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
Percent geographic division is of United States
Year or
Cycle
United
States
(persons)
1899
1909
1919
1929
1939
1947
1949-531
1953-57
1957-60
1960-641
1964
6.49
7.75
9.41
7.93
7.28
9.95
9.88
9.94
9.11
8.82
8.92
New
England
Middle
Atlantic
East
North
Central
West
North
Central
South
Atlantic
East
South
Central
West
South
Central
Mountain
Pacific
241
224
206
183
183
163
157
150
150
150
143
168
161
152
139
137
138
134
132
130
128
126
110
117
133
140
140
149
147
140
132
133
136
43
47
49
51
50
59
63
66
69
71
73
69
73
64
76
87
76
77
79
82
84
85
37
42
41
51
53
58
59
66
73
77
81
28
33
32
34
35
40
43
48
52
53
55
43
41
37
39
30
31
32
34
39
42
41
82
74
89
83
75
68
76
83
88
86
83
' Period does not cover a complete business cycle.
See series C 7 1 to C80 and C 9 1 to ClOO in appendix 2 for sources and in appendix 3 for basic data.
230-193 O
77
REGIONAL AND INDUSTRY TRENDS
Tangible assets and new capital expenditures of
manufacturing industries for the United States and
geographic divisions
Census geographic divisions
Year or period
United
New
Middle
East
West
South
East
West
States
England
Atlantic
North
North
Atlantic
South
South
Central
Central
Central
Central
Mountain
Pacific
GROSS BOOK VALUE OF DEPRECIABLE AND DEPLETABLE ASSETS
Millions
Percent distribution
of
dollars
110,489
End of year: 1957
6.0
21.9
31.6
5.2
11.3
4.9
8.2
1.8
9.2
NEW CAPITAL EXPENDITURES
Millions
Percent distribution
of
dollars
1,246
8.2
24.6
34.0
4.5
11.1
3.9
5.9
1.3
6.5
5,190
5.3
19.3
31.6
7.1
6.9
6.3
10.9
3.5
9.1
1947
6,004
7.0
22.2
31.1
5.7
11.2
4.3
7.6
1.6
9.2
1951-531
7,899
5.3
21.9
31.7
4.5
10.2
4.7
11.1
1.6
8.9
1953-57
9,441
5.2
19.0
32.8
4.8
12.2
5.1
8.7
2.1
9.9
1957-60
9,827
5.8
20.2
29.2
5.5
11.8
5.6
8.9
2.0
10.9
1939
1 9 4 0 - 4 4 .
_
1960-641
10,753
5.9
19.2
28.5
5.6
13.3
5.9
8.4
2.2
11.1
1964
13,436
5.2
17.6
32.1
5.5
12.7
6.5
8.4
1.9
10.2
NEW CAPITAL EXPENDITURES PER 100 DOLLARS OF VALUE ADDED
Division amount compared with United States (percent)
Dollars
102
1939
5.09
82
82
111
81
121
116
177
116
1947
8.08
76
80
99
102
121
110
187
150
124
1951-531
7.15
65
84
97
77
115
126
235
132
104
1953-57.
7.10
69
75
104
81
132
124
171
150
103
6.43
78
83
99
89
117
127
164
128
101
5.97
80
82
97
92
124
127
149
124
98
109
88
114
134
141
109
90
1957-60
1960-641
1964
-
-
6.52
74
79
1 Period does not cover a complete business cycle.
' Expenditures authorized by the War Production Board for the period July 1940 to May 1944; data shown as an annual rate.
See series C l O l to C I 10 and C81 to C90 in appendix 2 for sources and in appendix 3 for basic data.
78
REGIONAL AND INDUSTRY TRENDS
National income and persons engaged in production,
for industry divisions
Year or
period
Total
Agriculture
Industrial divisions
IransporGovernment
unance,
Contract
tation
insurMining construc- Manufac- communi- Trade
Services
ance,
tion
State
turing
cations.
and real
Federal and
public
estate
local
utilities
Rest
of the
world
NATIONAL INCOME
Millions
of current
dollars
Percent distribution
1869
18791889
6,827
7,227
10,701
22.2
19.0
14.2
1.5
2.1
2.2
5.7
5.0
5.9
14.6
13.3
18.9
10.9
12.9
11.2
15.2
16.1
16.8
11.5
12.0
13.1
14.2
15.2
12.5
4.2
4.5
5.2
1899-1903..
1903-07..
1907-10.-.1910-13...1913-18-.,1918-20
17,313
21,670
25,400
29,111
38,613
62,820
18.2
17.5
19.4
18.9
19.0
18.9
2.9
3.5
3.4
3.5
3.5
3.4
4.3
4.7
4.1
4.1
2.8
2.6
18.6
18.6
18.3
19.9
21.6
23.3
10.3
10.8
10.9
11.1
10.6
10.7
16.6
17.0
16.4
15.8
16.0
14.4
12.7
13.7
13.0
12.7
12.2
10.9
10.3
8.9
9.1
8.6
7.9
7.2
6.0
5.3
5.4
5.5
6.4
8.5
1920-231...
1920-23
60,303
63,021
13.2
10.2
3.6
2.7
3.5
3.8
22.2
21.5
11.8
10.3
15.1
13.5
2 12.8
<16.3
9.1
11.4
8.9
10.2
1923-261--.
1923-26 3-..
68,882
76,168
12,5
9.7
3.4
2.5
4.3
5.0
22.1
21.6
11.3
9.7
14.8
13.5
2 13.3
n6.4
9.7
11.9
8.5
9.7
1926-291...
1926-29®..-
75,460
82,818
11.5
9.0
3.0
2.2
4.2
4.9
22.2
21.4
11.2
9.7
14.5
12.9
214.3
U7.0
10.4
12.8
8.7
10.2
1929-371--.
1929-37
58,943
57,460
9.0
8.6
2.3
1.7
2.6
3.0
21.0
19.6
11.6
10.2
13.7
13.5
2 13.8
U5.7
10.8
13.9
15.1
13.9
1929-37
58,763
9.3
2.1
3.1
22.8
11.2
16.1
12.9
11.4
108,684
191,442
258,476
330,092
386,032
474,201
559,020
8.4
9.2
7.2
4.8
4.3
3.9
3.8
2.0
1.9
2.0
1.8
1.5
1.2
1.2
3.5
3.5
5.0
5.2
5.1
5.0
5.1
30.6
29.4
31.6
32.1
30.5
29.9
30.5
9.2
8.3
8.5
8.5
8.4
8.3
8.2
15.8
17.5
16.7
15.7
15.7
15.3
15.0
8.6
7.8
9.0
10.3
10.9
11.1
10.9
8.4
8.5
8.8
9.4
10.4
11.2
11.3
1937-44.-.1944^48
1948-53
1953-57....
1957-60
1960-65
1965
—
—
—
—
—
—
—
-
—
—
—
0.8
4.3
3.6
4.5
5.3
6.2
7.2
7.5
8.9
10.1
6.2
6.4
6.2
6.2
6.0
.3
.3
.5
.5
.6
.7
.8
PERSONS ENGAGED IN PRODUCTION
Thousands of
persons
Percent distribution
1869
1879
1889
1899
1909
1919
11,910
15,639
21,620
26,861
34,785
42,313
48.3
48.9
41.6
36.9
30.4
24.6
1.3
1.8
2.3
2.5
3.1
2.7
4.9
4.1
4.5
4.9
5.0
3.6
17.6
18.0
18.7
20.0
22.1
25.1
5.1
5.2
7.1
7.7
8.8
9.4
7.8
7.9
9.7
10.8
11.8
13.2
0.4
.4
.8
1.2
1.6
2.1
11.1
9.9
11.5
11.9
12.5
10.7
3.5
3.9
3.8
4.1
4.8
8.6
—
1929 8
1929®
47,611
46,216
21.2
19.9
2.2
2.2
5.0
5.0
22.2
22.8
8.6
8.8
16.9
16.9
3.3
3.4
13.9
14.0
6.7
6.9
—
1929-37....
1937-44....
1944-48
1948-53... _
1953-57
1957-60
1960-65
1965..
42,214
53,002
59,952
61,110
64,496
64,798
67,620
71,248
12.3
15.1
11.8
10.6
8.8
7.6
6.6
5.7
2.0
1.8
1.5
1.6
1.3
1.2
1.0
.9
4.1
4.0
4.0
5.6
5.6
5.5
5.5
5.6
20.5
24.4
25.9
26.7
27.0
26.1
25.6
25.9
7.5
6.3
6.8
6.9
6.5
6.3
5.7
5.6
16.9
16.3
16.7
18.1
18.0
18.6
18.4
18.4
3.5
3.0
2.9
3.4
3.8
4.1
4.3
4.3
13.9
12.4
(NA)
13.1
13.5
15.0
16.1
16.5
3.7
11.4
13.5
7.7
8.4
7.6
7.6
7.4
—
—
—
—
6.4
5.4
3.9
6.2
6.9
8.0
9.1
9.6
—
—
—
—
—
—
—
—
i Martin data.
=This industry also includes income from fisheries, miscellaneous
— Less than 0 . 1 percent. (NA) Not available.
income of private origin, net international transfer of dividends and interest, as well as income from miscellaneous professional occupations and
the hand trades.
3 Kuznets data.
^This series includes income originating in fisheries and in bus, truck, and air transportation.
6 OBE data.
« Kendrick data.
^ Period does not cover a complete business cycle.
See series C I 11 to C 2 3 4 In appendix 2 for sources and in appendix 3 for basic data.
79
REGIONAL AND INDUSTRY TRENDS
Average annual percent change of national income
Industry divisions
All i n d u s t r y
average
0
CO
01
All
s? +5.0
industry
I
average
-1.0
Average Annual Percent Change, 1929 to 1948-53
See series CI 32 to C209 in appendix 2 for sources and in appendix 3 for basic data.
Digitized for
80 FRASER
part
chart
part
REGIONAL AND INDUSTRY TRENDS
Average annual percent change of national income—continued
Industry components
MINING
AGRICULTURE
• • • 1 1
Noni
tetallij Mine^is
•
Pet oleunj andGi
1
-4.0 -2.0 0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0+14.0
-4.0 -2.0 0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
TRANSPORTATION
MANUFACTURING
IIr
I:.-;
- 1 II
Subul
'HidiW w a :
>
-2.0
0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
Siroad
>1 a]
-4.0 -2.0 0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
Average Annual Percent Change (1929 to 1948-53)
^ Designates industry average
Industry titles are shortened. See series C132 to C209 in appendix 2 for sources and in appendix 3 for basic data.
-
REGIONAL AND INDUSTRY TRENDS
Average annual percent change of national income-continued
Industry components-continued
COMMUNICATION
FINANCE, INSURANCE, REAL ESTATE
<1
»1"
I »
1
—
s
, J Tlwl
Kt^B
-20
S
O)
O
-4.0 -2.0
0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
-4.0 -2.0
0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
GOVERNMENT
-4.0 -2.0
0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
-4.0 -2.0
0.0 +2.0 +4.0 +6.0 +8.0 +10.0 +12.0 +14.0
Average Annual Percent change (1929 to 1948-53]
^ Designates industry average
Industry titles are shortened. See series C132 to C209 in appendix 2 for sources and in appendix 3 for basic data.
Digitized82
for FRASER
part
chart
REGIONAL AND INDUSTRY TRENDS
Growth rates of gross national product for industry divisions
(1948-53 to 1957-60 compared with 1957-60 to 1960-63)
All industry average
+7.0
i M * H Ir-t
i 1 M I M I I—t I I I p i I 1—I i I I I I t 1 I—TTTTJTTTT
1t1 111 H 1
Above all Industry average 1 1 both periods
Above all indu^ry average in recent period, below in early period
'
+6.0
TrmiiAJiti imi, CmniiMiitrt
•
-J
Services *
+2.0
+3.0
* Finance, Insul iince, Real Estate
+4.0
Annual Growth Rate (1948-53 to 1957-60)
See series C81 toC90andC91toClOOin appendix 2 for sources and in appendix 3 for basic data.
83
REGIONAL AND INDUSTRY TRENDS
Value added by manufacture for major industry groups
Percent of all manufacturing
Year or
business
cycle period
C248. All
manufacturing
(nnillions
of dollars)
Food and Tobacco
kindred products
products (SIC 21)
(SIC 20)
Textile
mill
products
(SIC 22)
Apparel
Lumber Furniture Paper anc Printing Chemicals
and
and wood
and
and
allied
and allied
related
products fixtures products publish- products
products (SIC 24) (SIC 25) (SIC 26)
ing
(SIC 28)
(SIC 23)
(SIC 27)
1899
1904
1909
1914
1919
4,647
6,019
8,160
^,386
23,842
9.0
9.0
9.2
11.4
10.5
3.7
3.4
2.9
3.0
2.2
9.5
8.6
9.2
8.3
9.6
6.6
6.9
7.5
7.3
6.8
9.4
9.6
8.7
6.9
5.4
1.8
1.9
1.9
1.9
1.5
1.9
2.0
2.1
2.1
2.2
6.5
7.0
6.4
6.7
4.6
4.6
4.8
4.9
4.9
5.0
1921
1923
1925
1927
1929
1931
17,253
24,569
25,668
26,325
30,591
18,601
12.3
10.2
10.6
10.8
10.9
14.8
2.6
2.1
2.6
2.8
2,7
2.0
10.6
9.8
8.6
8.6
7.6
8.2
8.2
7.1
6.6
7.1
6.3
7.4
4.9
5.7
5.2
4.5
4.3
2.8
2.0
2.1
2.2
2.2
2.0
1.7
2.3
2.3
2.4
2.6
2.6
3.3
7.6
6.2
6.8
7.4
7.3
9.5
4.8
4.8
5.1
5.6
5.7
7.3
1933
1935
1937
1939
1947
14,008
18,553
25,174
24,487
74,290
17.2
15.1
13.4
14.2
12.3
1.8
1.5
1.3
1.4
.9
9.6
7.9
7.1
7.4
7.2
5.9
6.1
4.9
5.7
6.0
2.7
2.9
2.8
3.0
3.4
1.4
1.5
1.7
1.7
1.8
3.7
3.4
3.4
3.6
3.9
8,9
8.3
7.1
7.2
5.7
8.0
7.3
6.9
7.4
7.2
99,878
132,928
152,912
180,091
205,963
10.7
11.0
11.8
11.7
11.2
.9
.8
.9
.9
.9
5.4
3.9
3.5
3.3
3.3
4.6
4.2
4.1
4.0
4.0
3.3
2.7
2.2
2.1
2.1
1.8
1.7
1.6
1.6
1.6
3.8
3.9
4.0
3.9
3.8
5.3
5.2
5.5
5.6
5.4
7.9
8.2
8.7
9.0
9.3
1949-53V
1953-57
1957-60
1960-641
1964
Percent of all manufacturing
Year or
business
cycle period
PetroLeather
Primary
Rubber
Stone,
and
clay, and
and
metal
leum and
leather
glass
induscoal
plastics
products products. products products
tries
n.e.c.
(SIC 29) (SIC 30) (SIC 31) (SIC 32) (SIC 33)
Fabricated
metal
products
Machin- Electrical TransporInstrution
machinments and
ery,
equipexcept
ery
related
ment
products
electrical
(SIC 34)
(SIC 35)
(SIC 36)
5.1
5.2
5.9
8.4
13.6
0.7
.8
.9
1.0
1.0
(SIC 37)
(SIC 38)
1899
1904
1909
1914
1919
0.8
.9
.9
1.2
2.1
0.9
1.1
.9
1.5
2.3
4.0
4.1
4.0
3.8
3.8
4.0
4.5
4.3
4.0
2.9
15.6
13.6
7.9
9.3
0.9
1.3
1.5
2.1
2.8
1921
1923
1925
1927
1929
1931
2.5
2.3
2.5
2.1
2.7
2.3
1.9
1.9
2.1
2.1
1.8
1.9
3.5
3.2
2.9
3.0
2.5
2.8
3.5
4.0
4.1
3.9
3.4
3.3
10.6
14.4
14.1
13.5
14.4
11.1
8.0
8.5
8.3
8.7
10.0
8.3
3.2
3.3
3.7
4.0
4.5
4.1
11.5
11.5
11.0
9.6
10.1
8.6
1.1
1.0
1.0
1.0
1.0
1.1
1933
1935
2.8
2.5
1.9
1.7
3.2
2.9
2.9
3.2
11.5
14.3
6.7
9.2
2.9
3.7
7.7
7.1
1.0
1.1
1937
1939
1947
2.5
2.8
2.7
1.5
1.7
1.7
2.3
2.4
2.1
3.4
3.5
3.1
10.0
8.9
7.7
5.5
5.7
6.6
9.4
8.3
10.5
4.4
3.8
5.2
7.9
7.2
7.9
1.2
1.4
1.5
1949-531
1953-57
1957-60
1960-641
1964.
2.4
2.1
1.9
2.0
1.8
1.7
1.7
2.2
2.4
2.4
1.5
1.3
1.3
1.2
1.1
3.3
3.4
3.9
3.7
3.7
8.8
9.2
8.4
7.9
8.1
6.8
6.5
6.5
6.2
6.1
10.8
10.7
9.2
9.0
9.6
5.8
6.2
7.5
8.6
8.8
10.3
12.0
11.3
11.4
11.6
1.7
1.8
2.1
2.3
2.1
1 Period does not cover a complete business cycle.
GENERAL NOTE: The sum of percentages In this table for several pre-World War II years exceeds 100 percent. This is due to the reclassification
of some industries out of the "all manufacturing" total but not out of the rndividual Industry groups. See series description C248 to C267 in
appendix 2 for sources and in appendix 3 for basic (^ata.
84
REGIONAL AND INDUSTRY TRENDS
Growth rates of Federal Reserve production indexes for major
industry groups
(1923-26 to 1948-53 compared with 1948-53 to 1960-65)
All industry average
Above all Industry a v e r ^ l n recent pariod
below in aarly period
lO
CO
1
CO
m
I
All
^
industry
average
o
is
"to
B e l a v all industry a v e r a g e in n o e i t t period,
above in <H)rly period
yiife d i t i i ^ t
+2.0
+3.0
+4.0
+5.0
u: 111 m . tk.t j ifilAt. t
+6.0
Annual Growth Rate (1923-26 to 1 9 4 8 - 5 3 ]
Industry titles are shortened. See series C268 to C306 in appendix 2 for sources and In appendix 3 for basic data. Primary metals and fabricated metal products groups
were combined for 1948 to 1965, and iron and steel and nonferrous metals and products groups, for 1923 to 1953 to obtain comparability. Also combined were textile mill
products and apparel groups and nonelectrical and electrical machinery groups for 1948 to 1953 to correspond with the textile products group and machinery group for
1923 to 1953. The manufactured food products and alcoholic beverages groups were combined for 1923 to 1953 to correspond with the food and bieverage manufactures
group for 1948 to 1965.
85
part
chart
REGIONAL AND INDUSTRY TRENDS
Growth rates of Federal Reserve production indexes for major
industry groups-continued
(1948-53 to 1957-60 compared with 1957-60 to 1960-65)
All I n d u s t r y a v e r a g e
s
a>
s
All
+5.0
industry
average
o
CO
ri
+4.0
o
u
15
+1.0
+2.0
+3.0
+4.0
+5.0
Annual Growth Rate (1948-53 to 1957-60]
Industry titles are shortened. See series C268 to C306 in appendix 2 for sources and in appendix 3 for basic data.
Digitized for86
FRASER
+6.0
+7.0
+8.0
REGIONAL AND INDUSTRY TRENDS
Summary of rapidly growing and declining
manufacturing industries
Rapidly growing industries
SIC
Components of FR manufacturing index
growing by 8 percent or more per year:
Plastics materials
Magnesium
Seamless hosiery
Man-made fibers
Auto radios
Growth
rate,
1957-60
to
1960-65
10.2
Light trucks
Basic organic chemicals
Softwood plywood
Table television
Electric housewares
9.9
9.7
9.5
9.3
9.3
Man-made fibers
Aluminum mill shapes
Kerosene.
Asphalt, waxes, etc
Misc. rubber and plastics.
9.0
8.8
8.7
8.3
8.3
8.0
2844
2295
2731
3831
2732
Toilet preparations
Coated fabric, not rubberized
Books, publishing and printing
Optical instruments and lenses
Book printing
3331
2256
2087
3861
3717
Primary copper refining, smelting.
Knit fabric mills
Flavorings...
Photographic equipment
Motor vehicles and parts
9.5
9.2
9.1
8.8
8.5
2043
3421
2283
2284
3555
Cereal preparations
Cutlery
Cellulosic man-made f i b e r . . .
Organic fibers, noncellulosic.
Printing trades machinery, _.
8.4
8.4
2655
3341
3652
3691
Fiber cans, tubes, drums, etc.
Secondary nonferrous metals.
Phonograph records
Storage batteries
8.1
8.1
8.1
10.4
10.1
10.0
GENERAL NOTE: These industries are the most rapidly growing or
declining of the industries shown on charts 14 and 15. The universe
from which the above industries were selected is incomplete. The
published components shown on chart 14 account for over 8 0 percent
of the Federal Reserve manufacturing Index. Some unpublished
components may have exceptional growth rates. The value-added
analysis on chart 15 includes 2 1 5 industries accounting for over
6 0 percent of total value added.
9.7
9.6
8.3
8.2
8.1
3443
3741
3255
2131
3582
351
3511
3519
3121
3612
3131
3261
3498
3629
3721
3317
2298
3263
3983
2793
3111
2351
2794
3723
3332
3811
3313
"0.3
-.5
-.6
-.7
-1.0
Home freezers
Cattlehide leather
Millwork
Lead
Railroad cars
-1.1
-1.2
-1.2
-1.4
-1.4
Home furnaces. __
Console television.
Skin leather
Men's outercoats.
Aviation fuel
-1.5
-1.5
-2.0
-2.8
-4.5
Residual fuel oil
Full-fashioned hosiery.
Medium trucks
8.3
Average
annual
percent
change,
SIC (4-digit) industries in which current- 1957-60
to
dollar value-added is growing by 8 percent
1960-64
or more per year:
TO"
Computing and related machines
11.9
Marking devices
11.5
Plastics products, n.e.c
10.6
Transportation equipment, n.e.c
Elevators and moving stairways
10.5
Declining industries
Components of FR manufacturing Index
that are declining:
Shoes and slippers
Lumber
Farm tractors
Wood containers
Coke
17.8
12.5
12.4
12.4
Metalworking machinery. _
Autos
3571
3953
3079
3799
3534
SIC
Growth
rate,
1957-60
to
1960-65
-5.3
-19.1
-24.1
Average
annual
percent
change,
SIC (4-digit) industries in which current- 1957-60
dollar value-added is declining:
to
1960-64
Boiler shop products
Locomotives and parts
-.4
Clay refractories
-.5
Chewing and smoking tobacco
-.6
Commercial laundry equipment
-.6
Engines and turbines
-.8
(Steam engines and turbines and
Internal combustion engines)
Industrial leather belting
-.9
Transformers
-.9
-1.0
Footwear cut stock.
-1.3
Vitreous plumbing fixtures
Fabricated pipe and fitting
-1.5
Electric industrial goods, n.e.c.
-1.5
Aircraft
-1.7
Steel pipe and tubes
-1.8
Cordage and twine
-2.0
Earthenware food utensils
-2.0
Matches
-2.2
Photoengraving..
-2.5
Leather tanning and finishing...
-2.6
Millinery
-2.7
Electrotyping and stereotyping.
-2.7
Aircraft propellers and parts.._
-3.2
Primary lead
-3.9
-4.9
Scientific instruments
-5.1
Electrometallurgical products...
The value-added percent changes are computed from currentdollar data. The lower part of the above list may indicate industries
in which prices rather than output have changed substantially. Also
there may be industries where price changes have offset output
changes resulting in current-dollar value-added percent changes that
are neither exceptionally high nor low.
See series C307 to C646 in appendix 2 for sources of data.
87
REGIONAL AND INDUSTRY TRENDS
Growth rates of Federal Reserve production indexes
for industries
(1957-60 to 1960,65 compared with 1948-53 to 1957-60)
All manufacturing average
manufacturing
average
-5.0
+5.0
+10.0
+15.0
+20.0
Annual Growth Rate, 1948-53 to 1957-60
The list on the following page identifies the components of the Federal Reserve manufacturing
index shown in the chart above. Each of the 124 charted components and subtotals is identified
with a number; however, only the "outliers' are identified with this number on the chart. The charted
series account for over 80 percent of the total manufacturing index.
In addition to'the charted series, other published components and subtotals are included in
88
this list; growth rates for those series introduced into the index since 1948 are shown only in the
last column. The 20 major industry groups (2-digit SIC level) are shown in chart 13.
The growth rates were computed with the compound interest rate formula using averages of
annual data for the 1948-53 and 1957-60 business cycles and the period 1960-65.
See series C307 to C431 in appendix 2 for sources of data.
Growth rates
Growth rates
Number
Industry
1948-53 1957-60
to
to
1957-60 1960-65
Ail Manufacturing
+3.4
+4.9
Food and kindred
products
+2.4
+3.2
+4.6
+1.1
+4.6
+2.8
+4.5
+2.3
+3.6
+2.0
+1.4
+ .1
+3.1
+6.9
+1.4
+ .2
+2.8
+3.4
+1.8
+5.0
+2.8
+4.4
+2.8
+7.2
Meat products:
Beef
1
2
Pork
Miscellaneous meats
3
4 Dairy products
Butter
Concentrated milk
Frozen desserts
5 Canned and frozen foods
Wheat flour
6 Cereals and feeds
7 Bakery products
8 Confectionery
9 Cane sugar
10 Beet sugar
11 Miscellaneous food preparations12 Vegetable and animal oils
Vegetable oils
Grease and tallow
B
t i x •
Deverages:
13
Bottled soft drinks
14
Beer and ale
15
Liquor distilling
16
Liquor bottling
Tobacco products
17
18
Cigarettes
Cigars
19
20
21
22
23
24
25
Cotton yarns and fabrics
Man-made fabrics..
Wool fabrics
Full-fashioned hosiery
Seamless hosiery
Knit garments.
Tufted and hard surface floor
coverings
Textile mill products
Apparel and related
products
26
27
28
29
30
31
-
Men's suits and coats:
Men's suits
Men's outercoats
j
Shirts and work clothing
Women's suits and coats
Dresses
Miscellaneous apparel and related manufactures
—
Lumber and wood
produclts
+4.7
-.1
+1.7
+1.4
+1.2
+3.9
+4.6
+2.6
- - -
+3.8
+ .5
+ .6
+1.7
+5.2
+2.1
+3.4
+3.7
+2.0
+2.9
+2.5
+2.0
+3.3
+3.2
+1.2
+1.0
+3.3
-2.8
-4.5
+1.9
+5.1
+3.5
+1.8
+9.0
0.0
-19.1
+12.4
+5.7
Number
32
33
Industry
1948-53 1957-60
to
to
1957-60 1960-65
34
Lumber
Millwork and plywood
Millwork
Softwood plywood
Wood containers
35
36
Household furniture
Fixtures and office furniture
-.8
+4.1
-2.8
-.5
+3.6
-1.2
+9.5
-.7
+4.2
+4.4
+3.9
+6.2
+6.9
+4.7
+4.4
+4.9
+5.4
+5.8
+3.3
+4.0
+2.0
+5.9
+4.3
+2.7
+4.4
+6.1
+4.9
+5.9
+2.5
+4.6
+4.8
+2.7
+5.2
+5.8
Printing and publishing _ + 3 . 3
+3.6
+2.4
+3.9
+4.6
Furniture and fixtures-.
Paper and allied
products
37
38
39
40
41
42
43
44
45
46
47
Wood pulp
Paper:
Printing paper
Fine paper
Coarse paper
Miscellaneous paper
Paperboard
Building paper and board
Shipping containers
Sanitary paper products
Newspapers
Job printing
Periodicals and books
_
—
Chemicals and allied
products
48
49
50
51
52
53
54
+8.3
+4.5
+2.9
+4.8
+ .1
-3.9
+4.3
+3.9
+1.7
+2.3
-2.8
+6.0
+3.8
+3.7
+3.4
+5.8
62
63
64
+ 0.9
+1.6
65
+7.7
Basic inorganic chemicals
+6,5
Basic organic chemicals _ _ _ + 7 . 5
+14.6
Plastic materials-Synthetic rubber
+5.7
Man-made fibers
+4.7
Soap and related products
+2.3
Paints
+3.7
Fertilizer.
Petroleum and coal
products
55
56
57
58
59
60
61
+2.0
+4.5
-
Automotive gasoline
Distillate fuel oil
Residual fuel oil
Aviation fuel
Lubricating oil
Asphalt, waxes, etc
Rubber and plastics
products, n.e.c.
-
Truck and bus tires
Miscellaneous rubber and plastics
Miscellaneous rubber prod-
+8.3
+7.7
+9.7
+17.8
+6.5
+12.4
+4.2
+1.2
+4.5
+3.6
+3.2
+4.0
+5.2
-2.6
+8.6
-.9
+ .4
+5.8
+3.3
+2.5
-5.3
-4.5
+8.7
+2.9
+8.3
+5.4
+3.5
-.4
+7.4
+6.4
+4.1
+7.4
+8.3
+5.1
+4.7
89
Growth rates
Number
Industry
1948-53 1957-60
to
to
1957-60 1960-65
Leather and leather
products
66
67
68
Cattlehide leather
Skin leather
Shoes and slippers
69
70
71
72
73
74
76
Stone, clay, and glass
products
Flat and other glass
Glass containers
Honr\e glassware and p o t t e r y —
Cement
Brick
Clay firebrick, pipe and tile
Concrete and plaster productsMiscellaneous stone and earth
manufactures
--
+1.6
+ .4
0.0
-2.7
+1.8
-1.2
-2.0
-.3
+3.0
+3.7
+3.6
-1.1
+3.5
+ .8
+2.8
+5.7
+3.5
+4.6
+4.4
+1,5
+2.0
+1.3
+2.0
+3.8
—
0.0
Primary metal industries
Blast furnaces and steel works:
0.0
Pig iron__ __
76
Carbon steeL
_ __
77
+.1
-.8
Alloy steel
78
-2.6
Coke
79
Steel mill products:
+1.3
Consumer durable steel
80
-2.0
81
Equipment steel
+ .6
82
Construction steel..
83
Can and closure steeL__ . . + 2 . 8
84
Miscellaneous steel
. -1.1
-1.4
85 Iron and steel castings
-2.9
86 Steel forgings
Nonferrous metals and products:
+10.8
87
Aluminum
88
Copper smelting._ __ + 1 . 2
+2.1
89
Copper refining...
-1.5
90
Lead
-1.3
91
Magnesium. - _._
-.4
92
Zinc.,
-.4
93
Secondary nonferrous metals_
94
Aluminum mill shapes.. _ + 7 . 3
-.4
95
Copper mill shapes
.
+1.0
96
Nonferrous castings..
97
98
99
100
Fabricated metal
products
Structural metal parts
Stampings, tools and miscellaneous
Metal cans..
..
Home furnaces
90
+4.0
Growth rates
Mumber
+5.8
+2.9
+2.4
+1.2
+1.6
+2.2
+2.1
+6.2
+5.6
+5.0
-1.4
+12.5
+2.4
+3.6
+8.8
+5.4
+2.4
+2.2
+3.1
+4.7
+4.3
+1.1
+3.3
+ .5
+6.4
+1.3
-1.5
1948-53 1957-60
to
to
1957-60 1960-65
Machinery, except
electrical
101
102
103
104
105
Farm equipment:
Farm machinery
Farm tractors.
Metalworking machinery _ ___
Tracklaying tractors
Miscellaneous
nonelectrical
equipment
Electrical machinery
106
107
108
109
110
+3.6
+3.6
+3.3
+6.9
-1.0
Industry
111
112
113
114
115
116
117
118
119
120
Electrical equipment and parts._
Television and radio sets:
Table television
._.
Console television
Home radios.. _
_
Auto radios
123
124
+5.8
-3.9
-3.5
-1.9
-.8
+6.6
-.6
+8.3
+4.1
+2.7
+5.8
+5.3
+6.7
+6.4
+6.9
+3.4
-1.9
-.4
+2.5
+9.3
-1.5
+4.1
+10.2
Kitchen appliances:
Electric ranges
+4.4
Gas ranges and ovens
-3.9
Refrigerators
-2.6
Home freezers
+1.8
Laundry appliances:
Washing machines
+3.5
Clothes dryers
+13.6
Miscellaneous appliances:
Electric housewares.. _ . _. + 1 0 . 7
Vacuum cleaners
+1.2
Water heaters.
+4.4
Replacement storage batteries. _
+ .4
Transportation
equipment
121
122
+1.8
Motor vehicles and parts:
Autos
Trucks and buses
Light t r u c k s . . .
Medium trucks
Heavy trucks
Truck trailers
Motor vehicle parts
Aircraft and parts
Railroad equipment
Locomotives
_
Railroad cars
+7.2
+1.2
+7.1
-1.1
+ .3
+5.1
+9.3
+4.8
+ .1
+3.0
+6.2
+5.0
+2.6
-.4
+8.0
+6.7
+9.9
-24.1
+6.4
+6.2
+7.8
+1.1
+3.0
+6.9
-1.4
___
+2.2
+12.8
___
- - -
Instruments and related
products
+6.1
+5.5
Miscellaneous
manufacturing
+2.1
+5.1
REGIONAL AND INDUSTRY TRENDS
Average annual percent change of value added by manufacture
for industries
(1957-60 to 1960-64 compared with 1947-53 to 1957-60)
All manufacturing average
+20.0
T
_
I
1 — r
I
I
r
1—t—I—r
I
I
I
1—
1
I
I
T
Above all manufacturiap average in both periods
Above all manufacturing average in recent period, befejw
in early period
+15.0
160
206
CO
o
195
® +10.0
197
149
120
34
30
19
!00
124 80180156 7 6 ^ 7 ^
115
••
•
79
A
71
•
179^4
153
193
151
o
^ +5.0
57
78
214
20
212
174
a.
•
202
122 203
•w
•
'
•
•
. . 1 7 0 23
59
» '
43
•
26
188 204
125 74
. .
.
All
^ manufacturing
average
11167,103
123
166
134
•
101
44
47
191
18=
35
25
104 163
90
167 91
lOB
192
107
35
211
89
41 69
147
146
116
171
187
68
189
121
Below all manufacturing average in recent period, above
in early period
Below all manufacturin( average in both periods
«
•
'
*
-J
-5.0
I
I
115
I-
0
+5.0
*
J
L
J
+10.0
I
I
196
L
+15.0
I
I
I
+20.0
Average Annual Percent Change, 1947-53 to 1957-1960
The list on the following pages identifies 215 4-digit SIC industries for which average annual
percentage changes are shown in the chart above. Each industry is identified with a number in the
list; however, only the "outliers" are identified with this number on the chart. The charted series
account for over 60 percent of the total "value added" by all manufacturing industries for which data
were compiled in the 1964 Annual Survey of Manufactures.
91
The average annual percentage changes were computed with the compound interest rate formula using averages of annual data for the 1957-60 business cycle and the period 1960-64. For
the 1948-53 business cycle, the data for the years 1947 and 1949-53 were averaged, since no data
are available for 1948. For some industries, the percent changes may be affected somewhat by the
lack of data for some years in the period 1947, 1949-53, although where such a lack of data was
considered serious, the industry was not charted. The procedure followed was to chart those industries for which data are available for at least 3 of the 6 years. Averages based on less data were
probably not sufficiently close to the average level of activity in the 1948-53 business cycle. Some
other industries were not charted because revisions in the 1957 SIC classification resulted in substantial noncomparabiiities for which no allowance was possible.
See series C432 to C646 in appendix 2 for sources of data.
Growth rates
Number
SIC
Industry
1947-53 1957-60
to
to
1957-60 1960-64
All Manufacturing.
20
1
2
3
201
2011
2013
2015
203
2032
2033
2035
204
5
6
2041
2042
7
8
2043
2046
205
2051
10
11
12
2052
206
2062
2063
207
13
2071
14
2072
15
2073
16
208
2082
2085
17
2086
18
19
20
21
22
2087
209
2091
2092
2096
92
Food and kindred
products
+5.8
+6.7
Meat products:
Meat packing plants. + 4 , 8
+6.0
Prepared meats
Poultry dressing
+9.9
plants
Canned and frozen foods:
Canned specialtiesCanned fruits and
+5.5
vegetables
Pickles and sauces..
Grain mill products:
+1.4
Flour and meal
Prepared animal
+5.7
feeds
Cereal preparations. _ + 4 . 4
+8.1
Wet corn milling
Bakery products:
Bread and related
+5.4
products
Biscuit and crackers. + 4 . 8
Sugar:
Cane sugar refining,. + 6 . 4
+4.5
Beet sugar
Candy and related
products:
Confectionery
+3.5
products.
Chocolate and cocoa
+5.2
products
+4.5
Chewing gum
Beverages:
+2.4
Malt liquors
Distilled liquor,
+1.5
except brandy
Bottled and canned
+6.4
soft drinks
+5.1
Flavorings
Other food preparations:
Cottonseed oil mills.. - 4 . 1
+4.0
Soybean oil mills
Shortening and
+2.3
cooking oils
Growth rates
Number
+4.8
+4.4
23
24
25
SIC
1947-53 1957-60
to
to
1957-60 1960-64
21
2111
2121
2131
+2.1
+3.5
26
+4.8
27
+6.8
28
22
2221
2241
225
2251
2252
29
2254
30
2256
226
+1.5
+4.3
+8.4
+3.1
2261
2262
+2.4
+4.2
31
+5.2
32
2284
229
33
34
2291
2295
35
2298
+6.6
2269
+4.5
+6.4
+5.1
23
+2.2
36
2311
+3.6
37
2321
+7.2
+9.1
38
2335
234
+4.9
+2.5
39
2341
40
2342
+3.7
Industry
Tobscco products--
+6.7
+9.0
+2.6
+4.0
+4.7
+ .7
+1.9
-.6
Textile milt products
+ .1
+3.5
Weaving mills, synthetics.
Narrow fabric mills
Knitting mills:
Full-fashioned
hosiery mills
Seamless hosiery
mills
Knit underwear
mills
Knit fabric mills
Textile finishing, except
wool:
Finishing plants,
cotton
Finishing plants,
synthetics
Finishing plants,
n.e.c
Thread mills
Miscellaneous textile
goods:
Felt goods, n.e.c
Coated fabric, not
rubberized
Cordage and twine. .
+ .5
+3.6
+6.0
- . 2
+1.3
+ .6
+6.1
+1.4
+9.2
+1.4
+4.5
+ .3
+1.4
+3.7
+2.2
+3.4
-1.4
+10.1
+3.8
+4.3
+1.9
+3.9
+3.8
+2.6
+5.1
+2.9
+6.0
+3.2
+4.3
+4.2
Cigarettes
Cigars
Chewing and smoking
tobacco
Apparel and related
products
Men's and boys' suits
and coats
Men's dress shirts and
nightwear
Dresses
Women's undergarments:
Women's and children's underwear.
Corsets and allied
garments
+3.3
-2.0
Growth rates
Growth rates
Number
SIC
41
2351
239
2392
42
43
1947-53 1957-60
to
to
1957-60 1960-64
2393
24
44
45
46
47
48
251
2511
[2512
50
51
'2515
2514
52
252
252f
53
2522
54
55
2531
254
26
2611
2621
56
2631
2661
264
57
2641
58
59
2642
2643
60
Lumber and wood
products
Sawmills and planing
242
mills:
Sawmills and plan[2421
ing mills
Hardwood dimen'2426
sion and flooring. _
Millwork and related
243
products:
2431
Millwork plants
2432
Veneer and plywood
plants
2445 Cooperage
2491 Wood preserving
25
49
Millinery
Fabricated textiles, n.e.c:
Housefurnishings,
n.e.c
Textile bags
2645
230-193 O - 66 - 5
Furniture and
fixtures
Household furniture:
Wood furniture, not
upholstered
Wood furniture,
upholstered
Mattresses and
bedsprings
Metal household
furniture
Office Furniture:
Wood office
furniture
Metal office
furniture
Public building furniture.
Partitions and fixtures. __
Paper and allied
products
Pulp mills
Paper mills, except
building
Paperboard mills
Building paper and
board mills
Paper and paperboard
products:
Paper coating and
glazing
Envelopes
Bags, except textile
bags
Die-cut paper and
board
+1.2
-2.7
+1.9
-4.1
+4.6
+2.9
+1.3
+2.3
Number
SIC
h947-53 1957-60
to
to
h957-60 1960-64
265
2651
61
2652
2653
62
2655
27
-1.5
+ .3
63
64
+2.2
+5.7
-4.7
+ .2
+4.7
+3.4
+5.3
+2.3
+5.7
+ .2
0.0
65
66
67
68
69
+3.6
70
+2.8
71
72
+4.4
+ .4
73
74
75
+5.8
+6.8
+6.4
+9.1
+7.6
+3.3
+7.4
+7.1
76
77
78
+6.4
+4.3
+6.0
+3.6
2711
2721
273
2731
2732
2771
279
2793
2794
28
+4.6
79
80
81
+10.7
+5.7
+6.8
+8.1
+3.7
+4.3
83
+4.1
+7.6
Printing and
publishing
Newspapers
Periodicals
Books:
Books, publishing
and printing
Book printing
Greeting cards
Printing trades services:
Photoengraving
Elect retyping and
stereotyping
Chemicals and allied
products
Basic chemicals:
Alkalies and
chlorine
2813
Industrial gases
2814
Cyclic (coal tar)
crudes
2816
Inorganic pigments.
282
Fibers, plastics, rubbers:
2821
Plastics materials..
2822
Synthetic rubber
2823
Cellulosic manmade fibers
2824
Organic fibers, noncellulosic
283
Drugs:
2831
Biological products.
2834
Pharmaceutical
preparations
2844 Toilet preparations
287
Agricultural chemicals:
2871
Fertilizers
2872
Fertilizers, mixing
only
2893 Printing ink
Petroleum and coal
products-
2911 Petroleum refining
2952 Asphalt felts and coatings
30
84
85
Paperboard containers
and boxes:
Folding paperboard
boxes
Setup paper boxes..
Corrugated shipping
containers
Fiber cans, tubes,
drums, etc
+5.5
+4.3
+5.3
+8.1
+6.0
+5.1
+4.0
+5.2
+ 5.5
+6.2
+8.3
+12.4
+9.0
+10.0
+4.1
-2.5
+1.8
-2.7
+7.1
+5.9
+6.8
+8.2
+4.5
+7.9
+4.0
+7.3
+1.5
+3.5
+11.2
+8.6
+4.0
+7.5
+4.1
+8.3
+7.4
+6.6
+8.7
+10.8
+6.5
+10.4
+2.7
+7.9
+4.6
+3.6
+2.7
+4.6
+2.5
+5.7
+5.8
+ .8
+9.3
+6.4
+4.0
+7.1
+1.4
+7.9
+9.6
+2.8
281
2812
29
82
Industry
3011
3021
Rubber and plastics
products, n.e.c.
Tires and inner tubes
Rubber footwear
93
Growth rates
Growth rates
Number
SIC
86
87
3031
3069
88
1947-53 1957-60
to
to
1957-60 1960-64
3079
31
89
3111
92
3121
3131
314
3141
93
94
95
96
3142
3151
3161
3171
90
91
32
97
3211
322
98
99
3221
3229
100
3231
101
3241
325
3251
102
103
104
Industry
3253
3255
Reclaimed rubber
Fabricated rubber
products, n.e.c
Plastics products, n.e.c.._
Leather and leather
products. Leather tanning and
finishing
Industrial leather belting.
Footwear cut stock
Footwear, except rubber:
Footwear, except
house slippers
House slippers
Leather gloves
Luggage
Handbags and purses
Stone, clay, and glass
products
Flat glass
Pressed and blown
glassware:
Glass containers
Pressed and blown
glass, n.e.c
Products of purchased
glass
Cement, hydraulic
Structural clay products:
Brick and structural
tile
Ceramic wall and
floor tile
Clay refractories
Pottery and related
products:
Vitreous plumbing
3261
fixtures3262
Vitreous china food
utensils
3263
Earthenware food
utensils
3264
Porcelain electrical
supplies
327
Concrete and plaster
products:
[3271
Concrete block and
brick
[3272
Concrete products..
3274
Lime
3275
Gypsum products....
329
Nonmetallic minerals,
n.e.c.:
3291
Abrasive products...
3292
Asbestos products. __
+6.0
+2.3
+5.2
+9.9
+5.0
+11.5
Number
SIC
114
3293
1947-53 1957-60
to
to
1957-W 1960-64
106
107
108
109
110
111
112
113
94
Gaskets and
insulations
+1.6
+6.9
+5.5
Steel rolling and
finishing:
3313
Electrometallurgical
+6.8
products
3317
Steel pipe and tubes. + 8 . 2
332
Iron and steel foundries:
3321
Gray iron foundries.. + 2 . 0
3322
Malleable iron
+1.7
foundries
3323
+2.4
Steel foundries
333
Primary nonferrous
metal:
3331
+6.4
Primary copper
3332
-.4
Primary lead
3333
-1.7
Primary zinc
3334
Primary aluminum.- + 1 7 . 3
3341 Secondary nonferrous
+2.0
metals
3356 Rolling and drawing.
+10.9
n.e.c
336
Nonferrous foundries:
(3361
Aluminum castings.3362
Brass, bronze, cop+3.6
per castings.-3369
Nonferrous castings.
n.e.c...
3391 Iron and steql forgings... + 2 . 7
+2.8
33
Primary nietal
industries
331
+3.3
+1.4
-.2
+2.3
+4.4
-2.6
-.9
-1.0
115
116
117
118
+3.9
+4.7
+ .6
+4.6
+5.6
+2.0
+2.2
+ 3.2
+2.1
+4.6
+7.7
+3.8
+6.8
0.0
119
120
121
122
123
124
125
+7.9
+3.5
+6.2
+6.4
+4.9
+8.1
+2.5
+1.0
+4.3
+2.8
+9.1
+3.1
+2.7
-.5
126
127
34
128
3411
342
129
130
3421
3425
131
3429
343
326
105
Industry
+4.7
-1.3
+2.2
+ .9
-5.0
-2.0
132
+3.3
+4.5
[3431
h432
I
344
[3441
+7.4
+4.3
+6.5
+8.4
+3.9
+2.8
3446
133
3449
+7.1
+6.9
+6.8
+1.7
134
3442
Fabricated metal
products
Metal cans
Cutlery, hand tools.
hardware:
Cutlery
Hand saws and saw
blades
Hardware, n.e.c
Plumbing and nonelectric heating:
PJumbing fixtures...]
Plumbing fittings.
brass goods
J
Structural metal
products:
Fabricated structural
steel
Architectural and ornamental metal
work
Miscellaneous metal
work, n.e.c
Metal doors, sash,
and trim
-5.1
-1.8
+4.6
+5.3
+2.9
+9.5
-3.9
+3.8
+3.6
+8.1
+4.0
+4.6
+2.1
+5.4
+7.6
+4.8
+5.1
+1.4
+8.4
+2.1
+6.4
+2.1
+5.0
+1.8
+ .7
+7.0
+ .1
+10.2
+2.3
Growth rates
Growth rates
Number
SIC
135
136
3443
1947-53 1957-60
to
to
1967-60 1960-64
345
137
3451
138
3452
139
140
141
3461
3471
3481
349
142
143
144
145
146
3491
3492
3493
3494
3498
35
351
3511
147
3519
353
148
149
150
151
3533
3534
3537
3541
355
152
3551
153
3552
3553
154
155
156
3554
3555
356
157
158
159
Industry
3561
3562
3564
Boiler shop products.
Sheet metal work___
Screw machine products
and bolts:
Screw machine
products
Bolts, nuts, washers,
and rivets
Metal stampings
Plating and polishing
Fabricated wire products.
Fabricated metal
products, n.e.c.:
Metal barrels, drums
and pails
Safes and vaults
Steel springs
Valves and pipe
fittings
Fabricated pipe and
fittings
+5.2
+5.4
-.4
+3.6
+2.3
+3.4
+4.8
+3.4
+7.4
+3.7
+3.3
Number
160
357
3571
3572
3576
358
163
3582
164
3586
165
3599
+2.6
+4.9
+2.3
36
+2.5
+7.3
361
+2.8
+1.9
+6.3
+1.5
166
3611
+5.1
+4.0
167
3612
+6.1
-1.5
168
[3613
[3622
+3.8
362
+4.1
169
+7.9
- . 8
170
3621
3624
171
3629
+5.4
+7.2
+ .6
+10.5
172
363
3633
173
3635
174
3636
364
175
176
3641
3642
3643
+3.0
+7.5
-.7
+5.8
+4.7
-1.2
+7.6
+7.2
177
+3.6
+2.8
178
179
+6.8
+6.8
3644
3652
3661
369
+3.9
+8.2
180
181
+6.2
+5.5
+4.6
+5.5
182
+5.0
+3.1
183
Industry
1947-53 1957-60
to
to
1957-60 1960-64
161
162
Machinery, except
Engines and turbines:
Steam engines and
turbines
Internal combustion
engines
Construction and like
equipment:
Oil field machines
and equipment
Elevators and moving stairways
Industrial trucks
and tractors
Metal-cutting machine
tools
Special industry
machinery:
Food products
machinery
Textile machinery..
Woodworking
machinery
Paper industries
machinery
Printing trades
machinery
General industrial
machinery:
Pumps and
compressors
Ball and roller
bearings
Blowers and fans
SIC
3691
3692
3693
3694
Office machines, n.e.c.:
Computing and related machines
f10.8
Typewriters
+5.4
Scales and balances. +2.6
Service industry
machines:
Commercial laundry
equipment
+4.0
Measuring and dispensing pumps
+ .1
Miscellaneous machinery + 9 . 8
Electrical machinery.Electric distribution
products:
Electric measuring
instruments.!
Transformers
+2.2
-.6
+4.9
+6.4
+9.1
+9.0
+15.0
+4.3
+3.0
-0.9
Switchgear and
+6.6
switchboards
Industrial controls...
Electric industrial
apparatus:
Motors and
+ .6
generators
Carbon and graphite
+8.0
products
Electric industrial
+11.4
goods, n.e.c
Household appliances:
Household laundry
+6.0
equipment
Household vacuum
+ .4
cleaners
-2.8
Sewing machines
Lighting and wiring
devices:
+7.8
Electric lamps
+4.5
Lighting fixtures
Current carrying
devices
+5.4
Noncurrent carrying
devices
Phonograph records
+5.1
Telephone, telegraph
+8.6
apparatus
Electrical products,
n.e.c.:
Storage batteries
Primary batteries,
dry and wet
X-ray and therapeutic apparatus.
Engine electrical
equipment
+12.3
+4.4
+3.7
+1.6
+4.3
-1.5
+5.7
+4.5
+5.3
+4.3
+6.9
+7.6
+8.1
+7.4
+2.9
+8.1
+5.7
+7.0
+5.5
+6.9
+5.5
+4.5
95
Growth rates
Growth rates
Number
SIC
1947-53 1957-60
to
to
1957-60 1960-64
37
371
184
3713
185
186
3715
3717
187
188
189
Transportation
oqulpmant
.f7.2
Motor vehicles and
equipment:
Truck and bus
bodies
Truck trailers
Motor vehicles and
parts
Aircraft and parts:
Aircraft
Aircraft engines and
parts
3723
Aircraft propellers
and parts
373
3731
191
3732
192
374
3741
193
3742
194
3751
195
3799
38
3811
96
Ships and boats:
Ship building and
repairing
Boat building and
repairing
SIC
197
3831
198
3843
199
200
201
3851
3861
3871
+5.2
+3.0
+5.4
+7.5
+5.4
+4.6
+8.5
+10.4
-1.7
202
391
3912
+10.8
+4.5
203
3914
+7.2
-3.2
204
3949
+6.5
+1.7
205
- +14.2
+ .2
206
207
3953
3964
Motorcycles, bicycles,
and parts
Transportation equipment, n.e.c
Instrumants and
related products—
-2.7
-.4
-1.0
+6.3
+ .6
+6.7
+2.4
+10.6
+9.1
+6.6
+15.8
-4.9
Industry
1947-53 1957-60
to
to
1957-60 1960-64
395
3951
Railroad equipment:
Locomotives and
parts..
Railroad and street
cars
Scientific instruments
Number
39
372
3721
3722
190
196
Industry
[398
208
209
210
[l90
3981
3982
211
212
213
214
215
3983
3984
3988
3992
3993
Optical instruments and
+2.3
lenses
Dental equipment and
+6.0
supplies
+3.8
Ophthalmic goods
Photographic equipment-_ + 1 0 . 2
+1.9
Watches and clocks. . .
+9.7
+5.1
+4.0
+8.8
+6.9
Miscellaneous
manufacturing
Jewelry and silverware;
Jewelers' findings
-1.8
and materials . .
Silverware and
-1.0
plated ware..
Sporting and athletic
+11.6
goods, n.e.c
Office supplies:
Pens and mechanical
+2.2
pencils
+9.1
Marking devices
Needles, pins, and
+3.2
fasteners
Miscellaneous
manufactures
Brooms and brushes
Hard surface floor
coverings
Matches
Candles
___
Morticians' goods
Furs, dressed and dyed..
Signs and advertising
displays
+3.9
+3.6
+4.3
+4.4
+11.9
+7.5
+5.4
0.0
+4.8
+2.4
+1.6
+2.2
+8.4
+5.0
-5.5
+2.8
-2.2
+5.4
+4.0
+1.5
+6.5
+7.1
Part
INTERNATIONAL COMPARISONS
Comparative measures of economic growth
for the United States, Japan, West Germany, the
United Kingdom, France, Italy, and Canada are
presented in this part. First, measures of total
output (in most instances, real GNP) are shown
on charts. Then, growth rates for selected
time periods are shown for the total output
measures and also for output per capita and
output per employee. Next, tables showing the
distribution of total output by major industry of
origin and the distribution of the labor force
(employment for 1950 to date) by industry are
shown. Finally, the percent of national product directed to investment (including residential
and other construction and machinery and
equipment) is shown.
The output data in this section are those published by the Organisation for Economic Cooperation and Development (OECD) for the postWorld War II period and by Angus Maddison in
ECONOMIC GROWTH IN THE WEST and in a
forthcoming publication, THE ECONOMICS OF
MAXIMUM GROWTH, for the period 1870 to
1950 or 1955. The OECD adjusts the figures
provided by its member countries, where necessary, to the STANDARDIZED SYSTEM OF NATIONAL ACCOUNTS in order to obtain better
intercountry comparability. In the case of the
United States, the adjustment is negligible,
about 0.2 percent each year. Thus, the growth
rates for the official U.S. series in part I (series
A2) and the OECD adjusted series can be used
interchangeably. Since they are more up to
date, the growth rates computed from the official
U.S. series are presented in addition to the
OECD figures. Maddison obtained his data
from various private and government sources
and adjusted them to conform as well as possible
to the OECD definitions and to allow for changes
in national boundaries. For the United States,
he used the Kuznets-Kendrick estimates of total
GNP presented in part I, with slight adjustments
for the period 1913 to 1933 and a substantial
upward adjustment to the 1869-73 average
(centered on 1871) as explained in the series descriptions (see series D1 to D7 in appendix 2).
International comparisons involve many definitional and measurement problems similar to,
but even more complex than those discussed
briefly in the introduction to this report. Broad
conceptional problems arise when comparing
economies with different cultures or economies
directed toward different goals. For the coun-
tries compared in this report, such problems are
less serious, but are still present.
There are also problems of a technical nature
which arise either from the broader conceptual
issues or from differences in the various countries' statistical systems. One such problem is
that the figures for fearly years are not as accurate as the later dajta. This pertains to both
the U.S. data and the data for the foreign countries compared here. A second problem is that
some countries define, classify, and measure
output and employment differently than others,
although adjustments, such as those made by
the OECD to the GNP series, can compensate to
some extent for such differences.
A third technical problem is that of evaluating
different countries' output on a common monetary basis. Although this is not considered too
serious a problem in the growth rate comparisons presented in this report, its consideration
here is worthwhile since some idea of comparative levels is frequently desired. The output
measures—^the measure in each country being
weighted by its own relative prices—can be converted to a common currency unit using the official exchange rates. This is a simple procedure, but can severely distort the picture when
the exchange rates do not reflect the comparative price levels of the countries. For example,
if the price level of country A is lower than that
of country B, the output of country A converted
to country B's currency at the exchange rate will
be understated.
An alternative is to construct output measures in which the components of real GNP of the
different countries are weighted by the relative
prices of one of the countries being compared.
Thus, the output levels of the European countries may be compared to the United States in
terms of U.S. prices or, similarily, they may be
compared in terms of average European prices.
Since the relative prices in the United States
differ from those in Europe, the results vary depending on whether U.S. or European prices are
used. Another alternative is to take the average of the U.S. and European prices as weights
in constructing the output measures.
As a rough backdrop against which the
growth-rate comparisons made in this report
can be interpreted, the post-World War II levels
of output are compared on the basis of U.S. and
average European prices, and local prices converted at official exchange rates in the table
below.
97
the utilization of labor and capital, nor of the
prospective trends in population, labor force,
productivity, etc. Such additional data for the
foreign countries are beyond the scope of the
present report.
It should also be kept in mind that the output
data presented here do not provide a complete
basis for assessing current or prospective
growth trends. Specifically, these output comparisons do not take account of the changes in
Indexes of per capita GNP
Table C.
INDEXES OF
GROSS
NATIONAL PRODUCT
FOR THE
UNITED STATES
AND SELECTED
FOREIGN COUNTRIES
98FRASER
Digitized for
Country
U.S. price
weights
European
price weights
Indexes of GNP
Exchange
rates
U.S. price
weights
European
price weights
1950 1955 1964 1950 1955 1964 1950 1955 1964 1950 1955 1964 1950 1955 1964
United States
United Kingdom...
Germany
Italy
France
Japan
NA
100
62
44
30
53
NA
100
64
58
35
56
NA
100
70
76
48
69
55
100
49
32
21
40
NA
100
51
44
24
43
NA
NA
NA
NA
NA
NA
NA
100
37
26
16
35
NA
100
42
35
19
47
NA
NA
NA
NA
NA
NA
NA
100
21
13
9
15
NA
100
20
18
10
15
NA
100
20
22
13
17
28
100
16
10
6
11
NA
100
16
13
7
11
NA
NA
NA
NA
NA
NA
NA
Not available.
Source: Milton Gilbert and Associates, Comparative National Products and Price Levels, Organisation for European Economic
Cooperation. Angus Maddison, "Japanese Economic Performance," Banca Nazionale del Lavoro Quarterly Review, December
1965.
INTERNATIONAL COMPARISONS
part
chart
Gross national product of the United States and six countries
RATIO SCALE
RATIO SCALE
600
500
400
300
-•200
21
15
- 9
400
300
200
100
1860
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
99
INTERNATIONAL COMPARISONS
Gross national product of the United States and six countriescontinued
RATIO SCALE
30
25
20
15
400
300
200
25
20
15
10
50
40
30
20
10
1860
1870
Digitized100
for FRASER
1880
1890
1900
1910
1920
1930
1940
1950
1980
1970
INTERNATIONAL COMPARSIONS
Growth rates of gross national product and output per
employee for the United States and six countries
Period
United
States
United
States
Japan
Germany
United
Kingdom
France
Italy
Canada
D6, D13
D7, D14
GROWTH RATES OF GROSS NATIONAL PRODUCT
A l , A2
13.6
3.6
1870-1964..
1870-1965
D l . D8
D2, D9
23.7
33.8
—
D3
—
®3.3
3.9
4.2
1.9
1.7
2.0
—
—
—
—
—
2.8
0.4
3.9
2.1
0.8
2.2
1.6
1.7
1.9
1.4
1.8
2.9
3.8
2.4
3.6
—
—
1.6
3.0
0.0
4.8
1.0
5.8
14.5
2.8
3.0
3.1
24.3
3.1
3.2
—
—
—
1929-50....
1950-64-...
1950-65
2.7
3.6
3.7
2.9
3.6
0.6
9.9
1.9
7.0
1950-60
1960-64._
1960-65
3.2
4.4
4.7
3.2
4.3
—
9.4
11.4
—
—
D5, D12
2.8
1870-1913
1913-29
1929-64
1929-65
—
D4, D l l
_
3.5
—
3.2
4.3
—
—
—
—
—
7.8
4.8
2.7
3.6
4.6
5.4
5.8
5.7
4.0
5.1
—
—
—
—
GROWTH RATES OF OUTPUT PER EMPLOYEE
A158, A159
1870-1964
—
1870-1913
1913-29.....
1929-64
1929-65
—
-
1.2
1.8
1.8
D28, D35
n.9
n.9
1.5
1.9
D29
—
—
—
—
1.5
2.3
2.4
1.7
2.4
1950-60„.
1960-64
1960-65
2.0
3.0
3.1
2.1
2.9
—
—
n.6
-0.1
^2.9
—
—
1929-50
1950-64.
1950-65....
D30, D36
—
1.2
^5.4
7.8
—
—
6.9
10.2
5.9
^4.3
—
—
D31, D37
D32, D38
D33, D39
D34, D40
1.1
1.7
1.6
1.7
1.0
0.4
1.5
1.4
2.0
2.0
0.8
1.5
2.7
1.7
0.7
2.1
—
—
—
—
1.1
2.2
0.3
4.6
1.0
5.2
2.0
2.2
—
—
—
—
2.0
2.7
4.6
4.6
4.7
6.5
2.1
2.4
—
—
—
_
GROWTH RATES OF PER CAPITA GROSS NATIONAL PRODUCT
A l l , A12
D54, D61
D55
11.9
1.9
2 2.0
1870-1913.
1913-29....
1929-64...
1929-65._
^2.2
1.3
1.7
1.8
2 2.2
1.7
1.8
—
—
1929-50
1950-64
1950-65...
1.6
1.8
2.0
1.7
1.9
—
1950-60
1960-64...
1960-65
1.4
2.8
3.2
1.5
2.7
1870-1964.
1870-1965
-
—
—
—
D56. D62
—
—
—
8.7
—
8.1
10.3
—
—
2 1.7
0.0
^2.8
—
0.7
^5.9
—
D57, D63
D58, D64
D59, D65
D60, D66
1.3
1.5
1.4
1.7
—
—
—
—
1.2
0.3
1.7
1.4
1.8
1.4
0.7
1.2
2.2
2.0
0.7
1.8
—
—
—
~
1.2
2.4
0.0
3.8
0.3
5.2
1.8
1.8
—
—
—
—
6.9
2.3
2.7
3.7
3.9
5.2
5.0
1.3
3.2
—
—
—
—
—
I Initial year is average of 1 8 6 9 to 1 8 7 8 centered on 1874.
* Initial year is 1871.
'Initial year is 1879.
< Based on data which include the Saar and West Berlin for 1960 through 1964.
101
part
INTERNATIONAL COMPARISONS
table
Output by industry divisions for the United States and six
countries
jrcent 9f total output)
Period
United
States
Japan
Germany
United
Kingdom
France
AGRICULTURE, FORESTRY.FISHERIES,
1860-69
1870-79
1880-89
1890-99
20
16
17
65
58
52
32
27
22
17
1900-09
191(M9
1920-29
1930-39
1940-49
17
16
11
9
8
46
38
29
20
21
18
18
13
14
10
—
—
10
—
8
3
4
6
Italy
1860-1949
45
43
41
37
57
56
48
46
45
43
35
35
35
22
21
23
44
43
36
27
38
33
28
24
13
14
MINING, MANUFACTURING,CONSTRUCTION,
1860-69
1870-79
1880-89
1890-99
21
24
26
1900-09
1910-19
1920-29
1930-39
1940-49
26
28
27
28
33
11
14
19
21
25
26
33
36
_
24
33
24
28
37
38
39
42
44
44
39
49
47
46
—
—
—
Canada
1860-1949
_
30
30
30
33
20
20
21
22
24
24
30
37
37
39
42
46
25
27
29
30
30
28
30
32
32
34
ALL OTHER INDUSTRY DIVISIONS, 1 8 6 0 - 1 9 4 9
_
1860-69
1870-79
1880-89
1890-99
59
60
57
24
28
29
44
40
54
55
53
1900-09
1910-19
1920-29
1930-39
1940-49
57
56
62
63
59
33
37
45
47
43
45
43
45
42
46
53
47
49
48
—
—
—
25
27
28
30
23
24
31
32
32
33
35
28
28
39
37
31
31
30
35
43
32
39
42
44
55
52
AGRICULTURE, FORESTRY, FISHERIES, 1 9 5 0 - 1 9 6 4
1950-59
1960-64
14.2
3.7
19.1
13.8
8.2
5.2
4.9
3.8
11.2
8.7
9.8
6.8
22.7
16.1
MINING, MANUFACTURING, CONSTRUCTION, 1 9 5 0 - 1 9 6 4
1950-59
1960-64
138.2
36.2
33.4
38.8
50.1
51.2
45.1
44.6
46.3
46.1
38.0
35.5
38.8
41.7
ELECTRICITY. GAS, WATER, TRANSPORTATION, COMMUNICATIONS, 1 9 5 0 - 1 9 6 4
1950-59
1960-64
^8.4
8.4
WHOLESALE
1950-59
1960-64
123.4
24.0
9.8
9.9
AND
22.2
23.2
8.7
8.2
10.8
11.6
7.0
6.8
9.3
9.7
RETAIL TRADE, BANKING. INSURANCE.
(COMMERCE), 1 9 5 0 - 1 9 6 4
16.0
16.4
15.6
15.3
13.3
14.4
11.9
12.2
REAL
ESTATE
12.4
13.1
18.9
20.3
16.9
19.4
21.4
25.2
SERVICES, 1 9 5 0 - 1 9 6 4
1950-59
1960-64
125.7
27.8
1 Period is 1955-59.
See series D67 to D122 in appendix 2 for sources of data.
102
15.6
14.3
17.1
19.0
23.6
24.7
22.2
24.0
part
INTERNATIONAL COMPARISONS
table
Labor force and employment by industry divisions for the
United States and six countries
(Percent)
Period
United
States
Japan
Germany
United
Kingdonn
France
f
Canada
Italy
AGRICULTURE.FORESTRY, FISHERIES, 1860-1949^
1860-69.
1870-79.
1880-89.
1890-99.
1900-09
1910-19
1920-29
1Q30-39
1940-49
60
52
50
42
37
31
27
22
18
84
79
73
67
61
53
49
42
—
—
42
36
34
—
15
—
12
6
6
—
30
28
62
62
57
52
53
48
49
43
—
—
40
36
—
-
—
-
59
56
56
48
50
51
49
43
39
36
32
28
IVIINING. MANUFACTURING, CONSTRUCTION, 1860-1949»
1860-69
1870-79
1880-89
1890-99.
1900-09
1910-19.
1920-29.
1930-39.
1940-49.
20
24
25
28
29
31
34
31
31
5
8
12
16
18
22
21
26
—
—
36
39
40
—
54
25
24
28
29
26
25
28
32
—
42
41
43
44
42
35
35
24
27
25
30
—
—
—
—
—
—
13
29
27
29
28
28
23
32
—
ALL OTHER INDUSTRY DIVISIONS, 1860-1949^
1860-69
1870-79
1880-89
1890-99
1900-09
1910-19
1920-29
1930-39
1940-49
20
24
25
30
34
38
39
47
51
11
13
15
17
21
25
30
32
—
—
22
25
26
—
31
20
21
27
23
?5
13
14
15
—
28
31
45
50
52
25
29
16
17
19
22
—
—
—
—
—
—
37
20
24
28
33
36
45
41
—
AGRICULTURE, FORESTRY, FISHERIES, 1950-19642
1950-59
1960-64.
11.2
'8.8
3 38.0
29.7
U6.3
12.8
5.0
4.1
^25.4
20.7
17.7
12.3
^38.0
29.2
MINING, MANUFACTURING, CONSTRUCTION, 1950-1964^
1950-59
1960-64.
33.7
«31.9
3 25.2
29.9
M7.1
48.4
49.4
46.4
^37.3
38.9
5 32.6
38.6
34.7
32.2
ELECTRICITY, GAS, WATER, TRANSPORTATION. COMMUNICATIONS,
1950-19642
1950-59.
1960-64.
6.7
«6.0
M.9
5.8
4 6.4
6.5
9.3
8.8
^6.2
6.7
^4.7
5.3
8.9
9.1
U2.3
13.3
18.7
20.7
U2.5
13.5
20.0
25.8
COMMERCE, 1950-19642
1950-59.
1960-64.
23.6
«25.0
3 17.7
19.1
U3,5
13.9
14.4
16.4
U2.5
14.0
SERVICES, 1950-19642
1950-59.
1960-64.
24.8
6 28.2
=»14.1
15.4
1 Labor force data.
® Employment data.
' Period is 1 9 5 3 - 5 9 .
See series D123 to D178 in appendix 2 for sources of data.
n6.6
18.3
21.9
24.5
* Period is 1 9 5 7 - 5 9 .
U8.6
19.7
s Period is 1 9 5 4 - 5 9 .
• Period is 1 9 6 0 - 6 3 .
103
INTERNATIONAL COMPARISONS
Investment as percent of gross national product for the
United States and six countries
(Percent)
Period
United
Japan
Germany
States
United
France
Italy
Canada
Kingdom
1860-69
1870-79
—
—
—
8.0
8.2
—
1880-89
—
—
—
6.1
—
11.3
—
20.0
—
—
6.9
—
8.9
—
—
—
7.9
—
12.7
—
—
5.4
—
15.1
U3.8
8.7
—
16.0
n8.6
U2.2
9.1
-
16.1
13.5
1890-99
1900-09
19.0
1910-14
18.0
1920-29
17.3
1930-38
12.5
1940-49
—
—
—
—
—
—
—
—
1950-59
17.0
24.6
21.3
14.4
17.8
19.9
23.7
1960-64
16.6
33.4
26.7
16.6
19.9
22.7 '
22.1
1 Period is 1 9 2 5 - 2 9 .
' Period is 1 9 2 6 - 2 9 .
3 Period is 1 9 3 0 - 3 7 .
See series D179 to D192 in appendix 2 for sources of data.
104
Part
GROWTH RATE TRIANGLES
This part contains reference tables of average
annual growth rates of three key U.S. aggregates: Gross national product, total private
man-hours, and gross private product per manhour. These growth rates have been computed
for a// combinations of initial and terminal years
and are shown in the format of "growth rate
triangles." Each triangle has about 3,000
entries and allows the analyst to select any combination of beginning and terminal years he considers appropriate for his study.
A modified compound interest rate table,
shown in appendix 1, provides a convenient
reference tool for computing growth rates for
any series other than the three key series.
Growth rates of gross national product shown
in chart 17 are computed by the method of selected points. As noted in the legend of the
chart, growth rates computed between years of
similar unemployment rates are shown on a white
backgrounds
Growth rates computed between
other years are printed in either black or brown
on shaded background. In part A of the chart,
the growth rates shown on a white background
are those computed between years for which the
unemployment rates differ by less than 0.025
of a percentage point per year of the time span.
They are designated as closely approximating
the "actual" rate of economic growth over the
1 This technique was suggested by Edward F. Denison.
2 The unemployment rate limits are based on the following
two factors:
(1) For a given t i m e span there is a range within which the
initial or terminal year levels of GNP may vary without affecting the annual growth rate by more than a tenth of a percentage point.
For example, a difference of < 0.048 percent in the
level of G N P in the initial or terminal years affects a growth
rate of 3.0 percent computed over a 1-year span by < 0.1 point,
while over a 50-year span a much larger difference in the level
of GNP, < 2.42 percent, affects the computed growth rate to
the same degree, < 0.1 point. This variation in the GNP level
when expressed on a per year basis is a constant; e.g.,
2.42/50=0.048.
Thus, changing the initial or terminal level
of GNP by < 0.048XN percent (where N is the number of years
in the span) results in a growth rate which varies from 3.0
percent by no more than 0.1 point. (For growth rates other
than 3.0 percent, the constant varies slightly, ranging from
0.050 at a 0.0 percent rate to 0.045 at a 10.0 percent rate of
growth.)
(2) To relate GNP growth rates to unemployment rates, a
relationship between GNP and the unemployment rate must be
assumed.
Assuming a 3-to-l relationship (see Arthur Okun,
"Potential
GNP:
Proceedings
American
It's
of the
Statistical
Measurement
Business
and
Association),
and
Significance,"
1962
Economic Sect/on
of
the
annual
"permissible"
the
variation in the level of GNP of 0.048 percent in the example
above corresponds to a 0.016 point change in the unemployment rate in the opposite direction (i.e., the short-term movements in the unemployment rate are typically about one-third
as targe as those in GNP).
Thus, a difference of up to 0.016
indicated time span. In part B, the rates shown
on a white background are those computed between years for which the unemployment rates
differ by less than 0.100 of a percentage point
per year of the time span. They are considered
to approximate roughly the "actual" rate of
economic growth over the indicated time span.^
For all possible combinations of initial and
terminal years since 1890, when annual unemployment-rate estimates were first available,
there were 2,850 GNP growth rates calculated
and then appraised in the light of the similarity
of the unemployment-rate estimates. The table
below shows the number and range of those GNP
growth rates computed between years with
similar unemployment rates, as well as the number and range of acceptable growth rates computed between years which were also business
cycle peaks. In addition, the ranges of GNP
growth rates computed from years of relatively
high to years of relatively Jow unemployment
rates and from years of relatively low to years of
high unemployment rates are also given in the
table.
This technique is intended as a useful although rough guide in selecting appropriate
years to compare. The problem is complex and
considerable care must still be exercised by the
probably affect the computed GNP growth rate by not more
than 0.1 percentage point.
In a similar manner, the GNP growth rate is affected by not
more than 0.2 point by variations in GNP associated with
variations in the unemployment rate of Jess than 0.049 point
per year of the t i m e span.
Likewise, the GNP growth rate is
affected by not more than 0.3 point by variations in the unemployment rate of less than .081 point per year of the time
span and by not more than 0.4 percentage points by variation in the unemployment rate of less than .113 points.
(Note
that the effect on the GNP growth rate increases in a 1, 2, 3,
4 . . . progression while the unemployment rate limit increases in a 1, 3, 5, 7 . . . progression.)
Thus, the unemployment rate limit of 0.025 per year can be
considered as identifying G N P growth rates which probably
vary by less than one- or two-tenths of a point from the rate
of economic growth; i.e., from the rate which would have been
calculated if the unemployment rates were equal, and the
0.100 per year limit identifies rates which probably vary by
less than t h r e e - o r four-tenths of a point from the rate of
economic growth.
Factors for which no allowance has been made that affect
the limits include (a) how the output-unemployment relationship may have varied over time, and also how it may vary over
the business cycle; (b) the statistical accuracy of the unemployment and G N P estimates; and (c) changes in the definition of unemployment.
Generally, over long spans the effect
of these factors is considered to be small.
The power of this technique to pick out those growth rates
which approximate the rate of economic growth is greatly
diminished for short time spans of say 5 years or less.
Hence,
many growth rates that probably do approximate the rate of
economic growth over short spans are erroneously classified
as probably greater than or probably less than the "actual"
rate of economic growth.
can be considered the permissible limit in the unemployment
rate.
As a result we may conclude that variations in the un-
employment rate of less than 0.016 point per year of the time
span are associated with variations in the level of GNP that
105
user in making comparisons, especially over
short periods.
Growth rates in total private man-hours computed by the method of selected points are presented in chart 18; growth rates in gross private product per man-hour computed with the
method of selected points in chart 19; and
growth rates of gross national product computed
by the least squares linear trend line fitted to the
logarithms in chart 20. The shading technique
has not been applied to these three triangles.
All combinations
All combinations of
of initial and
business cycle
terminal years
peak y e a r s '
Item
Difference
of < 0 . 0 2 5
point/year
Difference
of < 0 . 1 0 0
point/year
Difference
of < 0 . 0 2 5
point/year
Difference
of < 0 . 1 0 0
point/year
Total GNP growth rates under
2,850
2,850
190
190
360
993
36
101
- 3 . 6 to 4 . 5
- 3 . 6 to 9 . 4
2 . 4 to 4 . 3
1.5 to 4 . 4
2 . 6 to 3.5
2 . 6 to 3 . 8
2 . 6 to 3 . 9
2 . 6 to 3 . 9
2,490
1,857
154
89
- 0 . 9 to 16.1
0 . 7 to 16.1
1.5 to 8 . 6
2 . 4 to 8 . 6
2 . 9 to 16.1
3 . 1 to 16.1
2 . 8 to 8 . 6
2 . 9 to 8 . 6
Range
- 1 4 . 8 to 9 . 4
- 1 4 . 8 to 4 . 9
- 3 . 9 to 4 . 0
- 3 . 9 to 4 . 0
Modified r a n g e '
- 1 4 . 8 to 3.3
- 1 4 . 8 to 3 . 2
- 3 . 9 to 3 . 6
- 3 . 9 to 3.5
examination, number
Growth
years
Table D.
NUMBER AND
RANGE
OF GNP
GROWTH RATES
COMPUTED
BETWEEN
YEARS
WITH SIMILAR
UNEMPLOYMENT
RATES,
1890 TO 1965
106
rates
computed
with
similar
between
unemploy-
ment rates: ^
Number
Range
Modified r a n g e '
Growth
rates
computed
between
years with dissimilar unemployment rates:
Number
Unemployment rate of initial
year is higher than terminal
year:
Range
Modified range *
Unemployment rate of initial
year is lower than terminal
year:
^ 1965 is considered a peal< year for this table.
2 For the purposes of this table, initial and terminal unemployment rates are considered similar if they differ by less than the given
per year difference (the arithmetic difference between the rates of initial and terminal years divided by the number of years separating
them).
3 Upper and lower 5 percent excluded as extreme.
* Lower 10 percent excluded as extreme.
5 Upper 10 percent excluded as extreme.
GROWTH RATE TRIANGLES
Growth rates of gross national product, initial and terminal years used as selected points
Close approximations to rate of economic growth shown on white background
1884^
6.3
1889
5.2
3.0
1890
1891
1892
1893
169U
5.3
5.2
5.5
4.9
4.5
3.7
3.8
4.5
3.5
2.8
7.3
5.9
7.1
4.0
2.6
1691
1892
1893
1894
4.6
7.1
3.0
1.5
9.6
2.2 -4.7
.5 - 3 . 7 - 2 . 8
1895
1896
1897
1898
1899
4.9
4.5
4.7
4.6
4.8
3.6
3.1
3.6
3.5
3.9
4. 1
3.2
4.0
3.8
4.3
1695
1896
1697
1898
1899
3.5
2.5
3.5
3.4
4.0
3.3
2.1
3.3
3.2
3.9
1.2
.4
2.1
2.1
3.1
4 . 3 12.1
2.1 4.7 - 2 . 1
3.9 6.3
3.5
3.6 5.3 3.1
4.5 6.0 4.6
9.4
5.8
6.9
2.3
5.7
1900
1901
1902
1903
1904
4.7
5.0
4.8
4.8
4.6
3.8
4.2
4.1
4.1
3.8
4.2
4.8
4.5
4.5
4.1
1900
1901
1902
1903
1904
3.9
4.3
3.8
4.5
4.2
4.3
3.9
3.6
3.1
4.0
3.7
3.8
3.4
4.2
5.1
4.7
4.7
4.1
5.5
6.3
5.6
5.6
4.9
4.2
5.4
4.7
4.8
4.1
5.8
7.0
5.9
5.8
4.9
4.7
6.3
5.3
5.2
4.2
1905
1906
1907
1908
1909
4.7
4.9
4.6
4.U
4.6
4.0
4.3
4.2
3.7
4.0
4.3
4.7
4.5
3.8
4.2
1905
1906
1907
1908
1909
4.1
4.1
4.6
4.4
3.6
3.7
4.2
3.2
3.7
4.4
4.9
4.7
3.8
4.3
5.1
5.6
5.3
4.3
4.8
4.4
5.0
4.8
3.7
4.3
5.2
5.8
5.4
4.2
4.8
1910
1911
1912
1913
1911*
4.6
4.5
4.6
4.5
4.2
3.9
3.9
4.0
3.6
3.6
4.2
4.1
4.2
U.O
3.7
1910
1911
1912
1913
1914
3.7
3.6
3.7
3.6
3.2
4.2
4.1
4.2
4.0
3.6
4.7
4.5
4.6
4.4
3.9
4.2
4.1
4.2
1915
1916
1917
1918
1919
4. 1
4.2
4. 1
4.3
4.1
3.4
3.6
3.5
3.7
3.5
3.5
3.7
3.5
3.8
3.6
1915
1916
1917
1916
1919
3.4
3.0
3.2
3.1
3.5
3.2
3.4
3.6
3.5
3.8
3.5
3.7
3.9
3.8
4.1
3.8
1920
1921
1922
1923
1924
3.9
3.6
3.9
4.0
3.9
3.3
2.9
3.2
3.5
3.4
3.3
2.9
3.3
3.5
3.4
1920
1921
1922
1923
1924
3.2
2.8
3.2
3.4
3.3
2.9
2.5
2.9
3.2
2.8
3.2
3.5
3.3
1925
1926
1927
1926
1929
4.0
4. 1
4.0
3.9
4.0
3.5
3.5
3.5
3.4
3.5
3.6
3.6
3.5
3.4
3.5
1925
1926
1927
1926
1929
3.5
3.5
1930
1931
1932
1933
1934
3.7
3.5
3. 1
3.1
3.2
3.2
2.9
2.5
2.4
2.5
3.2
2.9
2.5
2.4
2.5
1935
1936
1937
1938
1939
3.3
3.4
3.5
3.3
3.4
2.7
2.9
2.9
2.8
2.9
1940
19U1
19U2
19<»3
194U
3.5
3.6
3.8
3.9
4.0
1945
1946
1947
1946
1949
4.5
4.2
4.6
4.4
3.6
4.1
4.0
3.9
4.0
3.9
3.5
3.3
3.5
3.7
3.5
4.1
4.0
3.9
4.0
3.9
3.5
3.3
3.5
3.4
3.7
3.4
3.1
4.0
KEY: 1 8 9 0 TO
9.1
4.6
2.7
7 . 0 11.5
5.0 6.1
5.0 5.7
3.7
3.9
1.0
2.9
1.5
4.9
1.8 - 1 . 2
4.6
5.4
5.0
3.7
4.4
5.0
5.8
5.3
3.9
4.6
4.3
5.3
4.8
3.3
4.2
4.3
3.0
4.6
4.1
2.3
3.5
3.6
5.6
4.8
2.5
3.8
3.0
5.8
4.7
2.0
3 6
7.4
9 . 5 11.6
6.8 6.5
1.6
2.8
1.3 - 3 . 4 - 8 . 2
1.5
1.5 12.3
4.6 4 . 0
4.3
4.2
4.3
4.1
3.5
4.5
4.3
4.4
4.2
3.6
4.1
3.8
3.3
4.2
4.0
4.2
3.9
3.3
3.4
3.3
3.5
3.3
2.7
3.7
3.6
3.8
3.5
2.8
3.5
3.4
3.7
3.4
2.6
4.3
4.1
4.3
3,9
3.0
3.7
3.5
3.8
3.5
3.5
4.7
4.5
4.6
4.4
3.9
1.9
2.0
2.6
2.4
1.5
3.3
3.5
3.4
3.8
3.4
3.6
3.8
3.7
4.0
3.7
3.3
3.5
3.4
3.8
3.4
3.3
3.6
3.4
3.9
3.5
3.0
3.3
3.1
3.6
3.2
3.0
2.5
2.9
2.8
3.3
2.9
2.3
2.8
2.7
3.1
2.9
3.6
3.1
2.2
3.6
3.3
2.4
2.8
2.7
3.2
2.8
1.2
1.9
1.8
2.6
2.1
3.5
3.0
3.4
3.7
3.6
3.1
2.6
3.1
3.4
3.3
3.3
2.8
3.3
3.6
3.5
3.1
2.6
3.1
3.4
3.3
3.1
2.6
3.1
3.4
3.3
2.9
2.4
2.6
3.2
3.1
2.5
1.9
2.5
3.0
2.8
2.4
1.7
2.4
2.9
2.7
2.6
3.1
2.5
2.9
2.7
3.1
2.9
2.3
1.5
2.3
2.9
2.7
3.7
3.8
3.7
3.6
3.7
3.4
3.5
3.4
3.3
3.4
3.6
3.7
3.6
3.5
3.6
3.4
3.5
3.4
3.3
3.4
3.5
3.6
3.4
3.3
3.5
3.3
3.4
3.2
3.2
3.3
3.3
3.4
3.3
3.2
3.3
3.0
3.1
3.0
2.9
3.0
3.1
3.2
3.0
2.9
3.1
3.0
3 1
3.0
2.9
3.0
3.2
3.3
3.2
3.0
3.2
2.5
2.1
1.4
1.3
1.5
4.0
5.9
7.7
6.0
5.8
4.0
3.9
2.8
2.3
4.6
5.8
5.2
3.4
3.3
3.2
1.8
2.7
3.1
3.4
3.2
3.3
3.1
3.2
3.4
3.3
3.4
3.4
3.5
3.4
3.3
3.4
3.2
3.2
3.5
3.6
3.5
3.4
3.5
1930
1931
1932
1933
1934
3.1
2.8
2.3
2.2
2.4
3.0
2.8
2.3
2.2
2.3
2.9
2.6
2.1
2.0
2.2
3.1
2.8
2.3
2.2
2.3
3.3
2.9
2.4
2.3
2.5
3.0
2.7
2.2
2.1
2.2
3.2
2.8
2.3
2.2
2.4
3.0
2.7
2.1
2.0
2.2
3.0
2.7
2.1
2.0
2.2
2.8
2.5
1.9
1.8
2.0
2.8
2.5
1.9
1.8
2.0
2.5
2.2
1.6
1.5
1.7
2.6
2.7
2.9
2.9
2.8
2.9
1935
1936
1937
1938
1939
2.6
2.8
2.8
2.7
2.8
2.5
2.7
2.8
2.6
2.7
2.3
2.6
2.7
2.5
2.6
2.5
2.8
2.8
2.6
2.8
2.7 2.4
2.9 2.7
3.0 •2.8
2.S
2.6
2.9 2.7
2.6
2.8
2.7
2.8
2.4
2.7
2.7
2.5
2.7
2.4
2.7
2.7
2.5
2.7
2.2
2.5
2.6
2.4
2.5
2.2
2.5
2.6
2.4
2.5
1.9
2.2
2.3
2.1
2.3
3.0
3.2
3.4
3.5
3.6
3.0
3.2
3.4
3.6
3.6
1940
1941
1942
1943
1944
2.9
3.1
2.9
3.1
2.7
3.0
3.2
2.9
3.1
3.3
3.5
3.6
3.0
3.3
3.5
3.7
3.7
2.8
3.1
3.3
3.5
3.6
2.9
2.8
3.2
3.4
3.6
3.7
3.1
3.3
3.5
3.6
2.8
3.1
3.3
3.5
3.6
2.7
3.0
3.2
3.4
3.5
2.7
3.0
3.9
3.6
3.6
3.6
3.5
3.5
3.2
3.2
3.2
3.1
3.5
3.2
3.2
3.2
3.1
1945
1946
1947
1948
1949
3.5
3.2
3.1
3.1
3.1
3.6
3.3
3.2
3.2
3.2
3.5
3.1
3.1
3.1
3.0
3.6
3.2
3.2
3.2
3.1
3.5
3.1
3.0
3.1
3.0
3.5
3.1
3.1
3.1
3.0
3.4
3.0
2.9
3.0
1950
1951
1952
1953
195^
3.6
3.7
3.7
3.7
3.6
3.2
3.3
3.3
3.3
3.2
3.2
3.3
3.3
3.3
3.3
1950
1951
1952
1953
1954
3.2
3.3
3.3
3.3
3.2
3.3
3.4
3.4
3.4
3.3
3.1
3.2
3.2
3.2
3.2
3.2
3.3
3.3
3.3
3.3
9.1
3.2
3.2
3.2
3.2
3.1
3.2
3.2
3.3
3.2
1955
1956
1957
1956
1959
3.7
3.6
3.6
3.5
3.6
3.3
3.3
3.2
3.2
3.2
3.3
3.3
3.3
3.2
3.2
1955
1956
1957
1956
1959
3.4
3.4
3.3
3.2
3.3
3.2
3.2
3.2
3.1
3.2
3.3
3.3
3.3
3.2
3.9
3.2
3.2
3.2
3.1
3.2
3.2
3.2
3.2
3.1
3.2
1960
1961
1962
1963
1964
3.6
3.6
3.6
3.6
3.6
3.2
3.2
3.2
3.3
3.3
3.2
3.2
3.3
3.3
3.3
1960
1961
1962
1963
1964
1965
3.6
3.3
3.3
1965
1884
1889
1874'
' G N P decade averages: 1 8 6 9 78 centered on 1 8 7 4
' G N P decade averages: 1 8 7 9 8 8 centered on 1 8 8 4
3.3
9.1
2.9
3.3
3.3
3.9
3.6
3.5
3.5
9.4
3.5
3.2
3.1
3.1
3.4
3.1
3.1
3.1
3.3
3.0
3.0
3.0
3.1
3.0
2.9
3.2
3.1
3.2
3.2
3.3
3.2
9.2
3.2
3.2
3.0
3.1
3.2
9.1
3.1
3.1
3.1
3.2
3.2
3.2
3.2
3.1
3.2
9.0
9.1
3.3
3.2
3.2
3.2
3.2
3.2
3.2
9.2
3.2
3.2
3.2
3.1
3.2
3.2
3.2
3.1
3.1
3.1
3.1
3.1
3.2
3.2
3.2
3.2
3.3
3.3
3.9
3.3
3.3
3.3
3.2
3.1
3.2
3.2
3.2
3.2
3.2
3.3
3.3
3.3
3.1
3.1
9.2
3.2
3.2
3.2
3.1
3.2
3.2
3.2
3.1
3.0
3.1
3.1
3.1
3.3
3.3
3.2
3.3
3.4
3.3
3.3
3.3
3.3
3.2
1890 91
92
93
94
95
96
97
98
3.3
3.2
3.2
9.1
3.4
3.1
3.1
2.3
2.9
3.2
2.8
2.6
3.2
2.6
1.9
2.2
2.1
2.6
2.2
1.6
1.5
1.7
1.5
1.4
1.6
1.6
1.5
1.7
1.9
2.3
2.4
2.1
2.3
1.9
2.0
2.3
2.3
2.4
2.2
2.1
2.2
2.2
2.3
7 '4
7.5
5.8
5.8
4.8
3.2
2.8
2.7
3.7
3.0
1.5
1.2
1.9
1.8
2.7
2.2
2.6
3.3
3.0
3.9
3.2
.9
1.8
2.4
2.2
1.6
.9
1.8
2.4
2.9
2.5
1.6
2.6
3.2
3.0
3.0
3.1
3.0
2.9
3.0
2.5
2.7
2.6
2.5
2.7
2.6
2.8
2.6
2.5
2.7
2.5
2.1
1.7
1.0
.9
1.2
2.1
1.7
1.0
.9
1.2
2.0
2.2
1.5
1.8
2.0
1.7
1.9
1.9
2.1
2.6
4.1
3.0
1.1
5.7
3.3
.7 - 1 . 7 - 4 . 3
2.0
1.9
3.0
2.3
.7
1.9
1.7
3.0
2.2
.3 - 1 . 4 - 2 . 6
1.7
.8
.7
1.6
.8
.7
3.0 2.6 2.9
1.7
2.2
1.8
-.8
3.4
2.5
4.9
3.1
7.9
4.2
6.8
4.1
.7
6.3
2.9
1.7
.8
1.8
2.5
2.U
1.5
.6
1.8
2.5
2.3
1.4
.4
1.7
2.5
2.3
.9
-.1
1.3
2.2
2.0
.9
-.3
1.3
2.4
2.1
1.8
.3
2.1
3.1
2.8
2.4
.4
2.5
3.7
3.2
1.0 1.2 - 3 . 9 - 4 . 3
- . 9 -1.3 -5.5 -6.5 -8.6
1.6
1.8 - . 5
. 4 2 . 8 15.8
3 . 1 3.5
1.8 3 . 2
5 . 8 13.9 12.
2.7
2.9
1.5
2.5 4.3 9.0 5.8
2.7
2.9
2.7
2.6
2.8
2.7
2.9
2.7
2.6
2.8
2.7
2.9
2.7
2.6
2.8
2.5
2.7
2.5
2.4
2.7
2.6
2.9
2.7
2.5
2.8
3.3
3.5
3.2
3.0
3.3
3.7
3.9
3.6
3.3
3.6
3.6
3.9
3.5
3.2
3.5
2.4
2.9
2.5
2.3
2.7
2.6
2.1
X.4
1.2
1.5
2.2
2.1
1.6
.8
.6
1.0
1.9
1.4
.5
.4
.8
2.0
1.4
.5
.4
.8
2.4
1.8
.8
.6
1.0
2.6
1.9
.9
.7
1.1
2.4
1.6
2.1
1.1
2.1
1.7
.8
.7
1.1
.4
.3
-.3
-.4
-.0
-.1
1.5
1.9
2.0
1.7
1.9
1.8
2.2
2.3
2.1
2.3
1.4
1.9
2.0
1.8
2.0
1.4
1.8
2.0
1.7
1.9
1.3
1.8
1.9
1.7
1.9
1.2
1.7
1.8
1.5
1.8
1.2
1.7
1.8
1.6
1.8
1.4
2.0
2.1
1.8
2.1
1.6
2.1
2.3
1.9
2.2
2.1
2.5
2.5
3.0
3.1
2.1
2.5
2.8
3.1
9.2
2.5
2.9
3.1
3.4
3.5
2.2
2.6
2.9
3.2
3.3
2.2
2.6
2.9
3.2
3.3
2.1
2.6
2.9
3.2
3.3
2.0
2.S
2.8
9.1
3.2
2.1
2.5
2.9
3.2
3.3
2.3
2.8
3.1
3.5
3.6
2.4
2.9
3.3
3.6
3.7
3.1
2.6
2.6
2.6
2.5
3.4
2.9
2.8
2.9
2.8
3.1
2.7
2.6
2.7
2.6
3.2
2.7
2.6
2.6
2.6
3.2
2.7
2.6
2.7
2.6
3.1
2.6
2.5
2.6
2.5
3.2
2.7
2.6
2.6
2.5
3.4
2.9
2.8
2.8
2.8
3.6
3.0
2.9
2.9
2.9
3.4
2.9
2.7
2.9
2.8
2.7
3.0
2.6
2.5
2.6
2.5
2.7
2.8
2.8
2.9
2.8
2.7
2.9
2.9
2.9
2.8
2.9
3.1
3.1
3.1
3.0
2.6
2.7
2.6
3.3
2.8
1.8
2.1
2.2
3.2
1.6
2.8
2.5
1.5
1.1
1.7
.9
.8
1.6
.5
.3
.8
1.2
GNP growth rates have not been classified before 1 8 9 0 since earlier
unemployment rates are not available.
12.3
4.1 -3.5
1.6
.8
.8
.1
1.9
2.4
2.9
3.2
3.4
2.1
2.7
9.1
3.5
3.7
2.5
3.t
3.5
3.9
4.0
3.1
3.7
4.1
4.5
4.6
2.4
3.1
3.6
4.0
4.1
1.9
2.6
9.1
3.6
9.8
2.0
2.8
3.3
9.8
4.0
1.6
2.4
3.0
3.6
3.8
1.3
2.2
2.9
3.4
9.6
1.4
2.4
9.1
3.7
3.9
1.5
2.5
9.2
3.9
4.1
1.0
2.2
3.0
3.7
3.9
2.2
3.4
4.1
4.8
5.0
3.3
4.5
5.3
5.9
6.0
5.9
6.9
7.5
8.0
8.0
7.0
8.1
8.6
9.1
8.9
6.7
8.0
8.6
9.1
8.9
6.0
7.6
8.4
9.0
8.8
4.2
6.4
7.5
8.3
8.2
3.8 8.5
8.5
6 . 7 11.0 12.2 16.1
7 . 9 11.5 1 2 . 5 14.5 12.9
8.8 11.8 12.6 14, 1 1 3 . 1 13.2
8 . 6 11.0 1 1 . 5 12. 3 1 1 . 1 10.2
3.5
3.5
2.9
2.7
2.7
2.9
2.8
3.2
2.6
2.5
2.6
2.5
2.7
3.8
3.1
3.0
3.0
2.9
4.4
3.6
3.5
3.5
3.4
3.9
3.2
3.0
3.1
3.0
3.5
2.8
2.6
2.7
2.6
3.7
2.9
2.8
2.8
2.7
3.5
2.7
2.5
2.6
2.5
3.4
2.5
2.4
2.5
2.4
3.5
2.7
2.5
2.6
2.5
9.7
2.6
2.6
2.7
2.6
3.5
2.6
2.4
2.5
2.4
4.5
3.4
3.1
3.2
3.0
5.4
4.2
3.9
3.9
3.7
7.2
5.7
5.2
5.2
4.9
8.0
6.3
5.8
5.7
5.3
7.9
6.1
5.5
5.4
5.1
7.7
5.7
5.2
5.1
4.7
7.0
4.9
4.4
4.4
4.1
7.2
4.9
4.3
4.3
4.0
9.1
6.2
5.4
5.3
4.8
9.2
5.9
5.0
5.0
4.5
9.4
5.5
4.5
4.5
4.0
7.7
3.5
2.7
3.0
2.6
6.1
2.7
1.2 - 2 . 4
.8 - 2 . 0
1.4
-.7
1.2 - . 6
3.0
3.2
9.2
3.2
3.1
2.9
3.0
3.0
3.1
3.0
3.0
3.1
3.1
3.2
3.0
2.7
2.9
2.9
2.9
2.8
2.9
3.1
3.1
3.1
3.0
3.2
3.9
3.3
3.3
3.2
3.6
3.7
3.7
3.7
9.6
3.2
3.3
3.3
3.4
3.2
2.9
3.0
3.0
3.1
2.9
3.0
3.2
3.2
3.2
3.0
2.8
3.0
3.0
3.0
2.9
2.6
2.9
2.9
2.9
2.9
3.1
3.1
3.1
3.0
2.7
2.8
2.»
3.0
3.0
3.0
2.9
3.0
2.8
3.4
3.6
3.6
3.6
3.4
4.0
4.2
4.1
4.1
3.9
5.1
5.3
5.2
5.1
4.8
5.6
5.7
5.6
5.5
5.2
5.4
5.5
5.4
5.3
5.0
5.1
5.2
5.1
5.1
4.7
4.5
4.7
4.6
4.6
4.2
4.4
4.6
4.5
4.5
4.2
5.2
5.4
5.3
5.2
4.8
4.9
5.2
5.0
5.0
4.5
4.6
4.9
4.7
4.7
4.3
3.4
3.8
3.7
3.8
3.4
2.2
2.9
2.9
3.0
2.6
.8
1.6
1.8
2.1
1.7
9.2
9.2
9.1
3.0
9.1
3.1
3.1
3.0
2.9
3.0
3.1
3.1
3.1
9.0
3.0
2.9
2.9
2.8
2.7
2.8
3.1
3.1
3.0
2.9
3.0
3.3
3.9
3.2
3.1
3.2
3.7
9.6
3.6
3.4
3.5
3.3
3.3
3.2
3.1
9.2
3.1
3.0
3.0
2.9
3.0
3.2
3.2
3.1
9.0
3.1
9.0
9.0
2.9
2.8
2.9
2.9
2.9
2.8
2.7
2.8
9.0
3.0
2.9
2.8
2.9
3.1
3.1
3.0
2.9
9.0
9.0
9.0
2.9
2.8
2.9
3.5
3.5
3.4
3.2
3.9
4.0
4.0
3.9
3.7
3.8
5.0
4.8
4.7
4.5
4.5
5.3
5.1
5.0
4.7
4.8
5.1
4.9
4.8
4.5
4.6
4.9
4.7
4.6
4.3
4.4
4.4
4.3
4.1
3.9
4.0
4.4
4.2
4.1
3.8
3.9
4.9
4.8
4.6
4.3
4.4
4.7
4.6
4.4
4.1
4.2
4.5
4.3
4.1
3.8
4.0
3.7
3.6
3.4
9.2
3.3
3.0
2.9
2.8
2.6
2.8
3.0
9.0
3.0
3.1
3.1
3.2
3.2
3.2
3.2
3.3
9.5
9.5
3.5
3.5
3.6
3.1
9.0
3.1
3.1
2.9
2.9
3.0
3.0
9.1
2.8
2.8
2.9
2.9
3.0
2.9
2.9
9.0
3.0
3.1
9.0
2.9
9.1
9.1
9.1
2.9
2.8
2.9
3.0
3.0
3.3
3.3
3.4
3.4
3.4
3.7
3.7
3.8
3.8
3.8
4.5
4.4
4.4
4.4
4.5
4.7
4.6
4.7
4.6
4.7
4.5
4.4
4.5
4.5
4.5
4.3
4.2
4.3
4.3
4.3
3.9
3.9
4.0
4.0
4.0
3.9
3.8
3.9
3.9
4.0
4.3
4.2
4.3
4.3
4.3
4.1
4.0
4.1
4.1
4.2
3.9
3.8
3.9
3.9
4.0
3.3
3.2
3.4
3.4
3.5
2.8
2.7
2.9
3.0
3.9
3.0
2.9
3.0
3.1
3.1
3.2
3.3
3.6
3.4
3.2
9.1
3.1
3.1
3.2
3.1
3.5
3.9
4.5
4.7
4.6
4.4
4.1
4.0
4.4
4.2
4.1
3.6
37
38
39
1940 41
2.2
2.7
3.1
3.5
3.6
2.8
2.9
2.9
2.7
2.8
2.7
3.0
3.6
9.1
3.1
3.2
2". 9
3.0
3.0
3.0
2.9
2.9
3.0
3.0
3.0
3.0
2.9
3.0
3.0
3.0
2.9
3.0
3.1
3.1
3.1
3.0
2.9
3.0
9.0
3.0
2.9
2.7
2.8
2.8
2.8
2.7
2.7
2.5
2.8
2.9
2.8
3.0
3.1
3.1
3.1
3.0
2.8
2.9
2.9
2.9
2.8
2.9
2.9
2.9
2.8
2.8
2.9
2.9
2.9
2.8
3.0
3.0
3.0
2.9
2.9
3.0
3.0
3.0
2.9
3.0
3.0
3.0
3.0
2.9
2.9
3.1
3.1
3.0
9.0
3.0
3.^
3.0
3.0
2.9
2.9
2.8
2.8
2.8
2.7
2.8
2.9
2.8
2.8
2.7
2.8
9.1
3.1
3.1
3.0
9.0
2.9
2.9
2.9
a.«
2.9
2.9
2.9
2.9
2.8
2.9
2.9
2.9
2.9
2.8
2.9
2.9
2.8
2.8
2.7
2.8
2.9
2.9
2.9
2.8
3.1
3.1
3.0
2.9
3.0
3.0
2.9
3.0
3.0
3.1
2.9
2.9
3.0
9.0
3.0
3.'0
3.0
3.0
3.1
3.1
2.9
2.9
3.0
3.0
3.0
2.8
2.8
2.8
2.8
2.9
2.8
2.8
2.6
2.9
2.9
3.0
3.0
9.1
3.1
3.1
2.6
3.1
3.1
3.2
2.9
2.9
3.0
3.0
3.0
2.8
2.8
2.8
2.9
2.9
3.gii
2.9
2.9
3.0
2.9
2.8
2.9
2.9
3.0
2.8
2.8
2.9
2.9
2.9
2.8
2.8
2.9
2.9
3.^
3.0
3.0
3.0
3.1
3.1
9.1
3.1
9.1
9.2
9.2
3.0"
9.0
3.0
3.1
3^1
3.6
9.0
3.1
3.1
fiS
2.8
2.8
2.9
2.9
3.0
3.2
3.1
3.1
3.1
3.1
3.1
2.9
3.0
3.2
3.0
3.0
3.0
3.0
3.0
9.2
3.2
3.2
3.2
3.0
2.8
2.8
9.1
3.2
9.2
3.3
2.9
2.9
99 1900
Source: Series A2 for 1909 to 1%5. Series A1 for 1874 to 1908 - level adjusted by the ratio of the two 1909 values.
107
9.
2.3
2.8
3.2
9.6
3.7
1.7
2.0
9.0
9.0
•4.4 - 5 . 3 - 6 . 7 - 1 0 . 8 - 1 1 . 3 - 1 4 . 7
•4.0 - 4 . 7 - 5 . 7 - 8 . 6 - 8 . 2 - 8 . 5 - 1 . 8
•2.5 - 2 . 8 - 3 . 4 - 5 . 3 - 4 . 1 - 3 . 0 3 . 4
5.3
.0
2.8
1.8
2.0
2.8
3.1
- . 6 -1.6
6.7
-.8 - 1 . 0 - 1 . 9 - 9 . 8
•2.2 - 2 . 7 - 3 . 8 - 8 . 7 - 7 . 6
5.5 9.5 9.9
7 . 6 1 0 . 9 11.8 1 3 . 9
7.1 9.5 9.6
9.5
5.7 4.4
5.0 6.4
5.5 6 . 8 6.3 5.4
3.0
2.9
3.1
-.6
.6
3.6
.0
2.7
3.1
1.9
2.7
3.2
2.8
-.3
.4
.5
1.5
1.7
.3
.3 - . 9
3
.
0
•1.5 - 1 . 6
• 1 . 5 - 1 . 6 •2.8
.2
- . 5 -1.2 -1.3 -1.6 -2.9 -1.5
.8
.7
.2
.2
.1 - . 7
1.5
.6
.7
.7
.0
1.0
.6
.
5
.6
.1
.2
•1
1.5
.8
.3
.8
.8
1.1
3.3
2.9
2.8
2.9
2.8
3.0
.9
1.5
1.1 - . 2
2.3
2.1
.2
1.3
1.6
1.1
1.6
3.2
2.8
2.7
3.0
3.1
.7
-.0
3.2
.2
1.2
1.5
1.0
1.5
3.3
2.9
3.1
3.1
3.1
.4
5.9
2.9
1.1
1.9
2.1
1.7
2.1
3.2
3.1
3.1
3.1
2.7
1.5
8.4
7.2
4.7
3.6
4.2
2.0
2.8
2.9
2.5
2.8
3.4
3.1
4.1
2.9
-.1
4.0
4.6
3.4
2.9
3.5
1.3
2.0
2.2
1.8
2.1
3.3
3.4
2.8
2.7
1.7
.3
.1
8.9
8.3
6 8
5.9
.9
1.6
1.8
1.5
1.8
3.4
3.5
2.8
6.0
6.6
6.4
5.1
4.3
4.7
1.2
5.1
5.2
4.4
4.0
.7
1.9
1.6
1.2
1.5
3.2
3.3
2.7
3.5
3.8
3.3
3.0
1.3
1.9
2.1
1.7
2.0
3.3
3.4
2.8
is less than the rate of economic growth. The unemploy
ment rate in the terminal year exceeds the rate in the initial
year by > 0 . 0 2 5 point per year of time span.
1-0
3.2
3.3
2.S
is greater than the rate of economic growth. The unemployment rate in the initial year exceeds the rate in the terminal
year by > 0 . 0 2 5 point per year of time span.
approximates roughly the rate of economic growth. The un
employment rates in the initial and terminal years differ by
< 0 . 0 2 5 point per year of time span.
3
9.4
3.5
9.1
3.1
3.1
3.1
1965
For the time span indicated, the calculated GNP growth rate shown
probably-
Initial year
1.5
8.6
7.2
-1.6
-6.9-4.9
-2.6
-2.1
11.9
-6.5
-3.0
-2.2
-.8
1.8
1.2
4.5
2.3
.1
-.2
.9
1.1
1.5
1.2
.0
1.3
1.5
1.9
1.5
3.3
4.2
4.0
4.1
9.4
4.7
5.5
5.0
4.9
4.0
4.8
5.8
5.1
5.0
9.9
9.6
8.8
6.8
6.2
4.7
7.9
5.5
5.1
3.5
3.1
3.8
2.0
4.5
1.5 - 1 . 3
2.2
2.2
2.1
1.9
2.2
1.8
1.8
1.8
1.5
1.9
2.1
2.1
2.0
1.8
2.1
9.8
3.6
9.4
9.0
3.9
4.4
4.1
9.9
9.4
3.6
4.4
4.1
3.8
3.3
9.6
5.2
4.7
4.3
3.6
3.9
4.9
3.9
3.5
2.9
3.3
3.4
3.1
2.8
2.2
2.7
9.5
3.1
2.8
2.1
2.7
3.0
2.6
2.3
1.6
2.4
7.6
4.7
3.6
2.4
3.2
1.9
1.6
.7
2.1
1.4
.1 -1.1
2.2 2.6
6.4
2.2
2.2
2.1
2.1
2.4
2.5
2.6
3.2
9.1
9.4
3.4
9.5
3.6
3.4
3.6
3.7
9.8
9.5
9.4
3.6
3.6
3.7
3.8
3.6
3.9
3.9
4.0
3.2
9.1
3.4
2.5
2.6
1.9
1.9
2.2
2.3
2.4
3.6
2.7
2.6
3.0
3.1
3.2
2.7
2.6
3.0
3.1
3.3
2.4
2.4
2.8
2.9
3.1
3.1
2.9
:5.4
3.4
3.6
2.2
2.1
2.8
2.9
3.2
2.3
2.2
2.9
3.1
3.3
2.5
2.4
3.2
3.3
3.6
4.4
3.6
4.3
4.3
4.4
2.5
2.2
3.6
3.7
4.0
3.2
2.8
2.6
2.8
3.6
9.9
3.8
4.1
3.7
3.4
3.5
3.4
3.8
3.4
3.6
3.9
4.6
4.4
42
43
44
45
46
47
48
52
53
54
55
56
57
58
59
2.4
3.4
49 1950 51
2.0
4.2
4.2
4.4
6.6
5.3
5.3
4.7
5.4
1960 61
4.0
4.6
5.1
62
GROWTH RATE TRIANGLES
Growth rates of gross national product, initial and terminal years used as selected points-continued
Rough approximations to rate of economic growth shown on white background
1884^
1885
1886
1887
1888
1889
5.2
3.0
1890
1891
1892
1893
1894
5.3
5.2
5.5
4.9
4.5
3.7
3.8
4.5
3.5
2.8
7.3
5.9
7.1
4.0
2.6
1895
1896
1897
1898
1899
4.9
4.5
4.7
4.6
4.8
3.6
3.1
3.6
3.5
3.9
4. 1
3.2
4.0
3.8
4.3
1900
1901
1902
1903
1904
4.7
5.0
4.8
4.8
4.6
3.8
4.2
4.1
4.1
3.8
4.2
4.8
4.5
4.5
4.1
1905
1906
1907
1908
1909
4.7
4.9
4.8
4.4
4.6
4.0
4.3
4.2
3.7
4.0
4.3
4.7
4.5
3.8
4.2
1910
1911
1912
1913
1914
4.6
4.5
4.6
4.5
4.2
3.9
3.9
4.0
3.8
3.6
4.2
4.1
4.2
4.0
3.7
1915
1916
1917
1918
1919
4.1
4.2
4.1
4.3
4.1
3.4
3.6
3.5
3.7
3.5
3.5
3.7
3.5
3.8
3.6
1920
1921
1922
1923
1924
3.9
3.6
3.9
4.0
3.9
3.3
2.9
3.2
3.5
3.4
3.3
2.9
3.3
3.5
3.4
1925
1926
1927
1928
1929
4.0
4.1
4.0
3.9
4.0
3.5
3.5
3.5
3.4
3.5
3.6
3.6
3.5
3.4
3.5
1930
1931
1932
1933
1934
3.7
3.5
3.1
3.1
3.2
3.2
2.9
2.5
2.4
2.5
3.2
2.9
2.5
2.4
2.5
1935
1936
1937
1938
1939
3.3
3.4
3.5
3.3
3.4
2.7
2.9
2.9
2.8
2.9
2.7
2.9
2.9
2.8
2.9
1940
1941
1942
1943
1944
3.5
3.6
3.8
3.9
4.0
3.0
3.2
3.4
3.5
3.6
3.0
3.2
3.4
3.6
3.6
1945
1946
1947
1948
1949
3.9
3.6
3.6
3.6
3.5
3.5
3.2
3.2
3.2
3.1
3.6
3.7
3.7
3.7
3.6
3.2
3.3
3.3
3.3
3.2
3.2
3.3
3.3
3.3
3.3
1955
1956
1957
1958
1959
3.7
3.6
3.6
3.5
3.6
3.3
3.3
3.2
3.2
3.2
3.3
3.3
3.3
3.2
3.2
1965
3.6
3.6
3.6
3.6
3.6
3.2
3.2
3.2
3.3
3.3
3«5
2>5
3.5
3.4
4.0
For the time span indicated, the calculated GNP growth rate shown
probably-
1900
1901
1902
1903
1904
'
1905
1906
1907
1908
1909
approximates roughly the rate of economic growth. The unemployment rates in the initial and terminal years differ by
< 0.100 point per year of time span.
is less than the rate of economic growth. The unemployment rate in the terminal year exceeds the rate in the initial
year by > 0.100 point per year of time span.
.7
1.9
1.7
3.a
2.2
.3
1.7
1.6
3.0
2.2
jB
.8
2.6
1.7
-2.6
.7
.7
2.9
1.8,
GNP growth rates have not been classified before 1890 since earlier
unemployment rates are not available.
-.8
3.4
2.5
4.9
3.1
1.2 - 3 . 9 - « . 3
1.3 - 5 . 5 -.6.5 - 8 . 6
1.8 - . 5
.4
2.8
5.8
3.2
4.3
2.5
15.8
13.9
9.0
4.0
4.6
3.4
2.9
3.5
2.2
1.7
1.4 i .9
1.2 : .8
1.5 i 1.1
-276
1.8
2.2
2.3
2.1
2.3
j
1
;
1
;
i
2.5 ;
2.9
3.1
3.4
3.5
1.4
1.9
2.0
1.8
2.0
2 . 1 "' 2 . 1
1.6
1.7
.8
.8
.7
.6
1.1
1.0
1.4
1.8
2.0
1.7
1.9
1.3 1 1.2
1.8
1.7
1.9
1.8
1.7 : 1.5
1.9 ; 1.8
2.2 , 2.2 , 2.1 :
2 . 6 , 1 2 * 6 JUA
2.9
2.9
2.9
3.2
3.2
3.2
9.J
3.3
3.3
,
3.4
U.9
1 2.8
Ui?
278
3.0
3.1
aoi
3.0
3.1
2.7
2.6
2.7
2.6
'2.8
2.9
2.9
2.9
2.8
3.2
2.7
2.6
2.6
2.6
"2.8
2.9
2.9
2.9
2.8
1.9
1.4
.5
.4
.8
3.2
2.7
2.6
2.7
2.6
2.8
2.9
2.9
2.9
2.8
2.0
2.S
2.8
3.1
flii
3.1
2.6
2.5
2.6
2.5
2.7
2.8
2.8
2.9
2.8
1874^
3.3
8.4
7.2
4.7
3.6
4.2
5.9
2.9
2.1
3.2
-.0
.2
2.3
2.7
1.5 1 1.7
.5
1.5
-.9
.3
.3
- . 2 - 1 . 5 t*1.6 - 3 . 0
-.3 -1.5 -1.6 -2.8
.4
-.6
-.6 -1.6
-.8
-2.2
-4.4
-««.0
-2.5
2.0
2.4
2.6
1.4 1 1 . 0 1.9
. 5 i <8
.9
.4 i .6
.7
.8 ; 1.0 ; 1.1
2.3
1.6
.5
.3
.8
2.4
1.6
.4
.3
.8
1.6
.8
-.3
-.4
.1
2.1
1.4
2.0
2.1
1.8
2.1
1.6
2.1
2.3
1.9
2.2
1.2
1.8
2.0
1.7
2.0
1.3
1.9
2.1
1.7
2.0
.7
1.3
1.6
1.2
1.5
2.4
2.9
3.31
3.6!
3.7
2.2
2.7
3.1
2.3
2.8
3.2
3.6
3.7
1.9
2.4
2.9
3.2
3.4
1.3
.9
2.0 1.1
.2 .2
1.6 2.0 2.8 1 . 9 1.2 1 . 3
1.8 2.2 2 . 9 2.1 1 . 5 1.6
1.5
1.8 2 . 5 1 . 7 1.0 1.1
1.8 2.1 2.8 2.1 1 . 5 1.6
2.1 2 . 5 3 . 1
2.0
1.6
1.3
3.1
2.7
3.7
2.8 2.4 2.2
1.2
1.7
1.8
1.6
1.8
2.1 2.3
2.8
2.5
2.9 3.1
3.2
3.5
3.3
3.6
BBIS
3.2
2.7
2.9
2.6
2.8
2.6
2.8
2.5
2.8
3.6
3.0
2.9
2.9
2.9
•
'
2.7
2.9
2.9 r » . i
2.9
3.1,
2.9 L3.1 !
2.8
3.0
3.0^
3.2
3.2
3.2
3.1
y.5
3.6
2.9
2.7
2.8
2.7
2.9
3.0
3.0
3.1
3.0
3.5
3.2
2.6
2.9
2.5
2.8
2.6
2.9
2.8 2 . 5
iMHi!
3 . 0 W-r
3.1 2.9
3.1 2.9
2.9
3.2
3.0
1.2
-.0
-.1
2.7
1.7
.3
.1
.7
3.1
3.5
3.7
3.5
9.9
4.0
4.1
2.9
1.1
.9
1.5
4.1
4.5
4.6
3.6
3.7
3.7
,3.7
3.6
3.6
3.6
3.4
3.5
3.3
3.8
4.0
3.2
3.3
3.3
3,4
3.2
3.3
3.2
3.1
3.2
2.9
3.0
3.0
3.1
2.9„
3.0
3.0
iMlf.
3.0
3.0
3.2
3.2
3.2
3.0
3.2
3.1
3.0
3.1
3.0
3.6
3.8
.6
3.6
i
i!
6.7
-l.O -1.9 -9.8
-2.7 -3.8 «8.7
-^.3 -•.7-.i0.8-ll,3-14.7
-*.7 -5.7 ^ . 6 -8.2 -8.5
- 2 . 8 - 3 . 4 "-5.
-1.3 -1.6 -2.9
, .2
.1 -.7
.7
.7
.0
.2
.1 -.5
.8
.8
.3
-1.5
.8
1.5
.6
1.5
2.9
3.4
3.6
2.8
3.0
3.0
3.0
2.9
3.0
2.9
«.«-»
2.9
3.2
3.2
3.3
3.3
3.3
3.6
3.6
is greater than the rate of economic growth. The unemployment rate in the initial year exceeds the rate in the terminal
year by > 0.100 point per year of time span.
7.'»
3.5
3.2
3.2
3.2
3.1
1950
1951
1952
1953
1954
1960
1961
1962
1963
1964
1895
1896
1897
1898
1899
3.4
3.2
3.3
3.1
3.1
3.1
3.2
3.1
'3.5
22
23
24
25
26
27
28
29 1930
5.4
4.2
3.9
3.9
3.7
7.2
5.7
5.2
5.2
4.9
4.0
4.2
4.1
4.1
3.9
5.1
5.3
5.2
5.1
4.8
4.2
6.4
7.5
8.3
8.2
3.8
8.5
6.7 XI.0
7 . 9 11.5
8 . 8 11.8
8.6 11.0
8.5
12.2 16.1
12.5 14.5 12.9
12.6 14.1 13.1 13.2
11.5 12.3 11.1 10.2
7.2
8.0
6.3
5.8
5.7
5.3
7.9
6.1
5.5
5.4
5.1
7.7
5.7
5.2
5.1
4.7
7.0
4.9
4.4
4.4
4.1
7.2
4.9
4.3
4.3
4.0
9.1
6.2
5.4
5.3
4.8
9.2
5.9
5.0
5.0
4.5
9.4
5.5
4.5
4.5
4.0
7.7
3.5
2.7
3.0
2.6
5.7
5.6
5.5
5.2
5.4
5.5
5.4
5.3
5.0
5.1
5.2
5.1
5.1
4.7
4.5
4.7
4.6
4.6
4.2
4.4
4.6
4.5
4.5
4.2
5.2
5.4
5.3
5.2
4.8
4.9
5.2
5.0
5.0
4.5
4.6
4.9
4.7
4.7
4.3
3.4
2.2
3.8
2.91
3.7
2.9
3.8 1 3.0;
3.4
2.6
6.1
1 . 2 •-Z.ii
. 8 .- 2 . 0
1.4 - . 7
1.2
-.6
1
-.8
1.8
1.2
4.5
2.3
3.3
4.2
4.0
4.1
3.4 ,
4.7
5.5
5.0
4.9
4.0
9.6
4.8
5.8
8.8
6.8
5.1
5.0 . 6.2
3 . 9 "r.T
4.4
4.1
3.9
•4 ."4
-.2
.9
1.1
1.5
1.2
.0
1.3
1.5
1.9
1.5
2.2
2.2
2.1
1.8
1.8
1.8
1.5
1.9
2 . 1 • 3". 8
3.6
2.1
3.4
2.0
3.0
1.8
3.3
2.1
1.9
1.9
2.2
2.3
2.4
2.1
2.1
2.4
2.5
2.6
2.8;
44
45
5.0
4.8
4.7
4.5
4.5
5.3
5.1
5.0
4.7
4.8
5.1
4.9
4.8
4.5
4.6
4.9
4.7
4.6
4.3
4.4
4.4
4.3
4.1
3.9
4.0
4.4
4.2
4.1
3.8
3.9
4.9
4.8
4.6
4.3
4.4
4.7
4.6
4.4
4.1
4.2,
4.5
4.3
4.1
3.8
4.S
3.7
3.7
3.8
3.8
3.8
4.5
4.4
4.4
4.4
4.5
4.7
4.6
4.7
4.6
4.7
4.5
4.4
4.5
4.5
4.5
4.3
4.2
4.3
4.3
4.3
3.9
3.9
4.0
4.0
4.0
3.9
3.8
3.9
3.9
4.0
4.3:
4.2!
4.3
4.3 !
4.3 i
4.1
4.04.1
4.1 ;
4.2'
3.9
3.8
3.9
3.9
4.0
2.8 : 2.2
riESa
3 . 3 ' 2 . 8 '= 2 . 2
3.2 ^2.7 2.2
3.4
2.9 2.4
3.4
3.0 2.5
3 . 5 , 3 . 1 I| 2 . 6
3.9
4.5
4.7
4.6
4.4
4.1
4.0
4.4
4.2
4.1
>.2 '2.8
31
32
33
34
35
36
37
38
39 1940 41
3.0
2.9
2.8
11.9
-6.5
-3.0
-2.2
.8
1.6
1.8
2.1
1.7
4.0
4.0
3.9
3.7
3.8
3.7
3.6
3.4
3.2
3.3
-1.6
-6.9-4.9
-2.6
-2.1
i
!
.1
1
5.2
4.7
4.3
3.6
3.9
7.9
5.5
5.1
3.5
3.1
3.8
2.0
4.5
1.5 - 1 . 3
4.3
3.9
3.5
2.9
3.3
3.4
3.1
2.8
2.2
2.7
3.5
3.1
2.8
2.1
2.7
3.0
2.6
2.3
1.6
2.4
7.6
4.7
3.6
2.«
3.2
2.1
2.2
2.3
3.6!
4.1
3.8
3.3
3.6
3.6
3.4
3.6
3.71
3.8
3 . 5 y.f
3.6
3.4
3.9
3.6
3.6 : 3.9
3.7
4.0
' 2.7
2.6
3.4
3.0
3.4
3.1
3.6
3.2
2.7
2.6
3.0
3.1
3.3
2.4
2.4
2.8
2.9
3.1
3.1
2.9
3.4
3.4
3.6
2.2
2.1
2.8
2.9
3.2
3.6
3.9
3.8
4.1
3.7
3.4
3.5
J
3.n
4
3.8
46
47
48
49
1950
51
52
53
53
54
3.2
3.1
3.4
3.4
^ 5
1.6
•T
1.4
.1
-1.1
2.6
6.4
2.9
3.1
3.3
2.5
2.4
3.2
3.3
3.6
4.4
3.6
4.3
4.3
4.4
!:?
3.7
4.0
4.2
4.4
5.3
5.3
y3.. 4
3.6
3.9
4.6
4.4
4.7
5.4
5.1
5.6
5.9
55
56
57
58
59 1960
61
62
63
64
2.2
6.6
5.3
3.3
18842 1889
'GNP decade averages: 1869 78 centered on 1874
'GNP decade averages. 1879-88 centered on 1884
1890
91
95
96
97
98
99 1900
01
03
04
05
06
07
08
09
1910
11
12
Source: Series A2 for 1909 to 1%5. Series A1 for 1874 to 1908 - level adjusted by the ratio of the two 1909 values. "
108
13
14
15
16
17
18
19 1920 21
Initial year
42
43
GROWTH
RATE
TRIANGLES
G r o w t h r a t e s of t o t a l p r i v a t e m a n - h o u r s , initial a n d t e r m i n a l y e a r s u s e d a s s e l e c t e d p o i n t s
1884
3.3
1885
1886
1887
1888
1889
3.3
1890
1891
1892
1893
1894
3.3
3.3
3.3
3.0
2.7
1895
1896
1897
1898
1899
2.1
1890
1891
1892
1693
1894
3.8
3.1
3.2
2.1
1.0
2.3
2.9
1.5
.2
3.4
1.1 - 1 . 0
-.3 -2.2 -3.4
2.9
2.7
2.7
2.6
2.8
2.5
2.3
2.3
2.2
2.5
1895
1896
1897
1898
1899
l.S
1.5
1.7
1.6
2.2
1.4
1.2
1.4
1.3
2.0
1.2
.9
1.3
1.2
1.9
.4
.3
.9
.8
1.7
1.2
.8
1.4
1.2
2.2
6.1
3.0
3.0
2.4
3.4
.0
1.5
1.2
2.7
3.1
1.8
3.6
.5
3.9
7.3
1900
1901
1902
1903
1904
2.8
2.8
2.9
2.9
2.7
2.4
2.6
2.7
2.5
1900
1901
1902
1903
1904
2.1
2.2
2.4
2.4
2.2
1.9
2.1
2.3
2.3
2.1
1.8
2.1
2.3
2.3
2.0
1.6
1.9
2.2
2.2
1.9
2.0
2.3
2.5
2.6
2.2
3.0
3.2
3.3
3.3
2.8
2.4
2.7
2.9
2.9
2.4
3.0
3.3
3.4
3.4
2.7
3.0
3.3
3.5
3.4
2.7
4.2
4.2
4.3
4.0
3.1
1.1
2.7
3.3
3.2
2.2
4.3
4.3
3.9
2.5
4.3
3.6
1.9
1905
1906
1907
1908
1909
2.8
2.8
2.8
2.6
2.7
2.5
2.6
2.6
2.3
2.4
1905
1906
1907
1908
1909
2.3
2.5
2.4
2.1
2.2
2.2
2.4
2.4
2.0
2.2
2.2
2.4
2.4
2.0
2.1
2.2
2.3
2.3
1.9
2.1
2.4
2.6
2.5
2.1
2.3
3.0
3.1
3.0
2.5
2.7
2.7
2.8
2.8
2.2
2.4
3.0
3.1
3.0
2.4
2.6
3.0
3.1
3.0
2.3
2.6
3.3
3.4
3.3
2.5
2.8
2.7
2.9
2.8
2.0
2.3
3.0
3.2
3.0
2.1
2.4
2.8
1.8
2.2
2.5
1.3
1.9
1.7
2.4
1910
1911
1912
1913
1914
2.7
2.7
2.7
2.6
2.5
1910
1911
1912
1913
1914
2.2
2.2
2.3
2.2
2.0
2.2
2.2
2.2
2.1
2.0
2.2
2.2
2.2
2.1
2.0
2.1
2.1
2.1
2.1
1.9
2.3
2.3
2.3
2.2
2.0
2.7
2.6
2.6
2.5
2.3
2.4
2.4
2.4
2.3
2.1
2.6
2.6
2.6
2.5
2.2
2.6
2.5
2.6
2.4
2.2
2.7
2.7
2.7
2.6
2.3
2.3
2.3
2.4
2.2
2.0
2.4
2.4
2.5
2.3
2.0
2.2
2.0
1.8
2.2
2.3
2.0
1.9
2.0
1.9
1.5
2.4
2.3
2.5
1915
1916
1917
1918
1919
2.4
2.5
2.5
2.4
2.3
1915
1916
1917
1918
1919
1.9
2.1
2.1
2.0
1.8
1.9
2.0
2.0
2.0
1.8
1.8
2.0
2.0
1.9
1.7
1.8
2.0
2.0
1.9
1.7
1.9
2.1
2.1
2.0
1.8
2.2
2.4
2.4
2.2
2.0
2.0
2.2
2.2
2.1
1.8
2.1
2.3
2.3
2.2
1.9
2.0
2.3
2.3
2.1
1.9
2.1
2.4
2.4
2.2
1.9
1.8
2.1
2.1
1.9
1.7
1.8
2.1
2.1
2.0
1.7
1920
1921
1922
1923
1924
2.3
2.0
2. 1
2.2
2.1
1.9
1920
1921
1922
1923
1924
1.8
1.4
1.6
1.8
1.7
1.8
1.4
1.5
1.7
1.6
1.7
1.3
1.5
1.7
1.6
1.7
1.3
1.5
1.6
1.5
1.8
1.3
1.5
1.7
1.6
2.0
1.5
1.7
1.9
1.8
1.8
1.3
1.6
1.8
1.6
1.9
1.4
1.6
1.8
1.7
1.9
1.3
1.6
1.8
1.6
1.9
1.4
1.6
1.8
1.7
1.7
1.1
1.4
1.6
1.5
1.7
1.1
1.4
1.6
1.5
1925
1926
1927
1928
1929
2.2
2.2
2.1
2.1
2.1
1.9
1.9
1.9
1.9
1.9
1925
1926
1927
1928
1929
1.7
1.8
1.7
1.7
1.7
1.7
1.7
1.6
1.6
1.6
1.6
1.7
1.6
1.6
1.6
1.6
1.6
1.6
1.6
1.6
1.7
1.7
1.6
1.6
1.6
1.8
1.9
1.8
1.8
1.8
1.7
1.8
1.7
1.7
1.7
1.8
1.8
1.7
1.7
1.7
1.7
1.8
1.7
1.7
1.7
1.8
1.8
1.7
1.7
1.7
1.6
1.6
1.5
1.5
1.5
1.6
1.6
1.5
1.5
1.5
1930
1931
1932
1933
1934
2.0
1.8
1.5
1.5
1.4
1.7
1.4
1.2
1.1
1.1
1930
1931
1932
1933
1934
1.5
1.2
.9
.9
.8
1.4
1.2
.9
.8
.8
1.4
1.1
.8
.8
.7
1.3
1.1
.8
.7
.7
1.4
1.1
.8
.8
.7
1.5
1.3
.9
.9
.8
1.4
1.1
.8
.7
.7
1.5
1.2
.8
.8
.7
1.4
1.1
.8
.7
.6
1.4
1.1
.8
.7
.6
1.3
.9
.6
.5
.4
1.3
.9
.5
.5
.4
1935
1936
1937
1938
1939
1.5
1.6
1.7
1.5
1.5
1.3
1.3
1.2
1.2
1935
1936
1937
1938
1939
.9
1.0
1.1
.9
1.0
.9
1.0
1.1
.9
1.0
.8
1.0
1.1
.9
.9
.8
.9
1.0
.8
.9
.8
.9
1.1
.8
.9
.9
1.1
1.2
.9
1.0
.8
.9
1.1
.8
.9
.8
1.0
1.1
.8
.9
.8
.9
1.0
.8
.9
.8
.9
1.0
.8
.9
.6
.7
.9
.6
.7
.6
.7
.9
.6
.7
.5
.6
.8
.5
.6
.3
.5
.7
.4
.5
.3
.5
1940
1941
1942
1943
1944
1.6
1.7
1.8
1.8
1.7
1.3
1.4
1940
1941
1942
1943
1944
1.1
1.2
1.3
1.4
1.3
1.0
1.2
1.3
1.3
1.3
1.0
1.1
1.3
1.3
1.3
1.0
1.1
1.2
1.3
1.2
1.0
1.1
1.3
1.3
1.3
1.1
1.2
1.4
1.4
1.4
1.0
1.1
1.3
1.3
1.3
1.0
1.2
1.3
1.4
1.3
1.0
1.1
1.3
1.3
1.3
i.O
1.1
1.3
1.3
1.3
.8
1.0
1.1
1.2
1.1
.8
1.0
1.2
1.2
1.1
.7
.9
.6
.8
.6
.8
1.1
1.1
1.0
1.1
1.0
.9
1945
1946
1947
1948
1949
1.6
1.6
1.6
1.6
1.6
1.4
1.4
1.4
1.4
1.3
1945
1946
1947
1948
1949
1.2
1.2
1.2
1.2
Irl
1.2
1.1
1.2
1.2
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.0
1.1
1.1
1.1
1.1
1.1
1.2
1.2
1.2
1.2
1.2
1.1
1.1
1.1
i.l
1.1
1.2
1.1
1.2
1.2
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.0
1.0
1.0
1.0
.9
i.O
1.0
1.0
i.O
.9
.9
.9
.9
.9
.9
.8
.8
.9
.9
.8
1.3
1.3
1.3
1950
1951
1952
1953
1954
1.1
1.2
l.I
1.1
I.O
1.1
1.1
1.1
1.1
i.O
1.1
1.1
I.l
1.1
1.0
1.0
1.0
1.0
1.0
.9
1.1
1.1
1.1
1.0
1.0
1.2
1.2
1.1
1.1
1.0
1.1
1.1
1.1
1.0
1.0
1.1
1.1
1.1
1.1
1.0
1.1
1.1
1.0
1.0
.9
1.1
1.1
1.0
1.0
.9
.9
1.0
.9
.9
.8
.9
1.0
.9
.9
.8
.9
.9
.9
.9
.8
1955
1956
1957
1958
1959
1.1
1.1
1.1
I.O
1.0
1.0
1.1
1.0
.9
1.0
1.0
1.0
1.0
.9
1.0
1.0
1.0
1.0
.9
.9
1.0
1.0
1.0
.9
1.0
1.1
1.1
1.1
1.0
1.0
1.0
1.0
1.0
.9
.9
1.0
1.0
1.0
.9
1.0
1.0
i.O
1.0
.9
.9
1.0
1.0
1.0
.9
.9
.9
.9
.9
.8
.8
.9
.9
.9
.8
.8
1960
1961
1962
1963
1964
I.O
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
.9
.9
.9
1.0
.9
.9
.9
.9
.9
1.0
.9
.9
.9
1.0
1.0
1.0
1.0
1.0
i.O
.9
.9
.9
.9
.9
1.0
.9
.9
.9
1.0
.9
.9
.9
.9
.9
.9
.9
.9
.9
.9
1965
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1950
1951
1952
1953
195U
1955
1956
1957
1958
1959
1.5
1.5
3.4
3.2
2.6
2.1
2.3
2.3
2.2
2.0
2.0
1.7
1.8
2.0
1.2
1.5
1.4
1.2
1.2
1.1
1.2
1.2
1960
1961
1962
1963
196«
1.1
1.1
1.1
1.2
1965
18741
1884^
'Decade average: 1869 78 centered on 1874
1889 1890 91 92 93 94 95
2.6
2.9
2.2
2.1
2.6
2.1
2.0
1.9
1.7
1.7
1.5
1.6
2.S
2.4
1.0
4.8
4.5
3.7
1.6
2.2
1.8
4.2
3.i
2.1
.6 - 1 . 0 - 4 . 2
1.8
i.O
.5
5.5
1.9
1.9
2.1
1.9
1.5
1.4
1.5
1.8
1.6
1.2
1.1
1.3
1.7
1.5
1.1
3.9
3.3
3.3
2.7
2.0
2.5
2.2
2.6
2.0
1.3
2.0
2.6
1.9
1.0
3.2
1.8
.7
.5
-.4
1.0
1.5
1.6
1.4
1.0
.8
1.5
1.5
1.3
.9
1.6
2.2
2.2
1.9
1.4
.9
1.8
1.8
1.5
1.0
.6
1.6
1.7
1.4
.9
.3
1.6
1.7
1.3
.7
-.6
1.2
1.4
1.0
.4
2.0
1.8
1.3
1.7
1.
Z.
1.9
1.9
1.7
1.4
1.6
1.3
1.
1,
1.3
1.8
1.8
1.6
1.3
.9
1.4
.8
1.3
.7
1.5
1.4
1.4
1.2
1.3
1.1
1.5
.8
1-1
1.5
1.3
1.3
.5
.9
1.3
1.1
1.1
.3
.7
1.1
.9
1.0
.2
.6
1.1
.9
1.4
.5
1.0
1.4
1.2
1.1
.1
.7
1.1
.9
.9
-.0
.5
1.0
.8
.8
-.2
.4
1.0
.7
1.5
1.5
1.4
1.4
1.4
1.3
1.4
1.3
1.3
1.3
1.3
1.3
1.3
1.3
1.4
1.5
-1.4
1.4
1.4
1.2
1.3
1.2
1,2
1.2
1.1
1.2
1.1
1.1
1.1
1.0
1.1
1.0
1.0
1.1
1.3
1.4
1.3
1.3
1.3
1.1
1.2
1.1
1.1
1.1
1.0
i.l
1.0
1.0
1.1
1.0 1.0
1.1
.9
.6
.1
.1
.0
.8
.4
-.0
-.0
-.1
.7
.3
-.0
-.1
-.1
1.0
.5
.0
.0
-.0
.7
.3
-.1
-.1
-.2
.2
.4
.6
.3
.4
.0
.3
.4
.2
.3
.0
.2
.4
.1
.2
.1
.4
.6
.2
.4
.5
.7
.9
1.0
.9
.4
.6
.8
.9
.8
.4
.6
.8
.9
.8
.8
.8
.8
.8
.7
.7
.7
.8
.8
.7
.7
.7
.7
.7
.6
.8
.8
.8
.8
,7
.8
.8
.7
.7
.6
.7
.7
.7
.7
.6
.8
.8
.8
.7
.8
.8
.8
.7
.7
.7
.7
.7
.7
.8
.7
.8
.8
.8
.7
.7
.7
.7
.7
2.0
1.6
1.6
1.8 2
1.2 1.1 1.0
.7
.3
.3
•2
1.1 1.0
1.2
.6
.2
.2
.1
.7
•3
.2
• 1
1.0
1.1
1.0
.4
-.9
2.9
2.6
1.8
.8
6.9
4.5
2.7
1.2
.5
-.6
.1
.7
.5
.5
-.7
.0
.8
.5
.9
-.6
.2
1.0
.7
1.2 - . 0
-.8
-.9
1.4
- . 6 -2.1 -3.1 -3.9 -4.3 -9.8
.4 - . 5 - 1 . 1 - 1 . 2
-.5 -1.5
1.3
.5
.4
1.4
.2
1.4
.9
.2 - . 0
.6
.5
•0
7.4
7.5
4.2
7.6
2.6
.9
i.l
1.0
1.0
1.0
.7
.9
.8
.8
.9
.9
.8
.8
.9
1.0
1.2
1.0
1.0
1.1
1.2
1.4
1.2
1.2
1.2
4.0
3.9
3.1
2.8
2.7
2.9
3.0
2.3
2.0
2.0
.7
.2
-.2
-.2
-.3
.6
.1
-.3
-.3
-.4
.4
.0
-.5
-.5
— 6
.4
-.0
-.6
-.6
-.6
.6
.0
-.5
-.5
-.6
.7
.2
.2
.5
.4
.1
.1 - . 2
-.4
-.4
-.2
-.3
-.5
- . 9 -1.1 -1.2 -1.0 -1.2
-.5
- . 9 - 1 . 1 - 1 . 2 - 1 . 0 -»1.2
- . 6 -1.0 -1.2 -1.2 -1.1 -1.3
.9
1.6
-.1
.6
-.4 -1.2
-.5 -1.1
-.6 -1.2
-.0
.2
.4
.1
.2
-.1
.1
.3
.0
.1
-.2
.0
.2
-.0
.1
-.3
-.0
.1
-.1
.0
-.4
-.1
.1
-.2
-.0
-.3
-.0
.2
-.1
.0
-.3
-.0
.2
-.1
.0
-.7
-.3
-.0
-.4
-.2
-.8
-.4
-.1
-.5
-.3
-.8
-.4
-.1
— 5
-.2
-.7
-.3
.0
-.4
-.1
-.8
-.4
-.0
-.5
-.2
-.1
.2
.6
.0
.3
-.7
-.2
.1
-.3
-.0
1.4 * 1 . 3 - l . e ; i 2 . 4 - 2 . 6 - 3 . 1 - 3 . 9 - 3 . 4
- . 7 - 1 . 0 -1.5 -1.6 ,-1.9 -2.4 -1.7
-.8
-.3
- 1
-.4 - . 8
-.8 -1.0 -1.4 -.6
.2 -1.6
-.8
.1 -1.4
-.7
.5
-.9
-.7 - 1 . 0
-.5
-.4
-2.2
-.4
.5
.7
.9
i.O
.9
.3
.6
.8
.9
.8
.3
.5
.7
.8
.8
.2
.5
.7
.8
.7
.1
.4
.6
.7
.7
.2
.5
.7
.8
.7
.2
.5
.8
.9
.8
-.0
.3
.5
.7
.6
-.1
.2
.5
.6
.5
-.0
.2
.5
.6
.6
.0
.4
.7
.8
.7
-.0
.3
.7
.8
.7
.5
.9
1.2
1.3
1.2
.1
.5
.9
1.0
.9
-.2
.2
.6
.7
.6
-.1
.3
.7
.9
.7
-.3
.1
.5
.7
.6
-.6
-.0
.4
.6
.4
-.6
-.0
.4
.6
.5
- . 7 i-l.O
2
-.0
.3
.4
.5
.6
.4
.5
-.4
.3
.9
.4
1.2
1.7
1.9
1.6
.6
.6
.7
.7
.6
.8
.8
.8
.8
.7
.6
.6
.7
.7
.6
.6
.6
.6
.6
.6
.5
.5
.6
.6
.5
.5
.5
.5
.5
.4
.5
.5
.6
.6
.5
.6
.6
.6
.6
.5
.4
.4
.4
.5
.4
.3
.3
.4
.4
.3
.3
.4
.4
.4
.3
.5
.5
.5
.6
.5
.4
.5
.5
.5
.4
.9
.9
.9
.9
.8
.6
.6
.7
.7
.6
.3
.3
.4
.5
.5
.5
.3
.3
.4
.4
.3
.1
.2
.2
.3
.2
.2
.2
.3
.3
.2
.1
.2
.3
.3
.2
.0
.1
.2
.2
.1
.5
.5
.6
.6
.4
.6
.7
.6
.6
.5
.6
.6
.6
.6
.5
.7
.7
.7
.7
.6
.6
.6
.6
.6
.5
.6
.6
.6
.6
.5
.5
.6
.5
.5
.4
.5
.5
.5
.5
.4
.5
.5
.5
.5
.4
.6
.6
.6
.6
.4
.4
.4
.4
.4
.3
.3
.4
.3
.3
.2
.4
.4
.4
.4
.2
.5
.5
.5
.5
.4
.4
.5
.5
.5
.3
.8
.8
.8
.8
.6
.6
.6
.6
.6
.4
.4
.2
.3
.4
.3
.3
.2
.2
.3
.2
.2
.1
.2
.3
.3
.3
.1
.2
.3
.2
.2
.1
.1
.2
.2
.2
.0
.5
.5
.5
.5
.3
.9
1.0
.9
.9
.7
1.6
1.6
1.5
1.5
.7
.7
.7
.6
.6
.6
.6
.6
.5
.6
.6
.6
.6
.5
.5
.7
.7
.7
.6
.6
.6
.6
.6
.5
.5
.5
.6
.5
.4
•5
.5
.5
.5
.4
.5
.4
.5
.4
.4
.4
.5
.5
.5
.4
.4
.5
.6
.5
.4
.5
.4
.4
.4
.3
.3
.3
.4
.3
.2
.3
.3
.4
.3
.3
.3
.5
.5
.4
.3
.4
.4
.5
.4
.3
.4
.7
.8
.7
.6
.7
.5
.6
.5
.4
.5
.3
.4
.3
.2
.3
.3
.4
.3
.2
.3
.2
.3
.2
.1
.2
.2
.3
.3
.1
.2
.2
.3
.2
.1
.2
.2
.2
.2
.0
.1
.4
.5
.4
.3
.4
.8
.9
.8
.6
.7
.6
.6
.6
.6
.7
.6
.5
.6
.6
.6
.5
.S
.5
.5
.6
.6
.6
.6
.6
.7
.5
.5
.5
.5
.6
.5
.5
.5
.5
.5
.5
.5
.5
.5
.5
.4
.4
.4
.4
.5
.5
.4
.5
.5
.5
.5
.5
.5
.5
.5
.4
.3
.4
.4
.4
.3
.3
.3
.3
.4
.3
.3
.3
.3
.4
.4
.4
.4
.4
.5
.4
.4
.4
.4
.4
.7
.6
.7
.7
.7
.5
.5
.5
.5
.5
.3
.3
.3
.3
.4
.3
.3
.3
.3
.4
.2
.2
.2
.2
.3
.2
.2
.3
.3
.3
.2
.2
.2
.3
.3
.2
.1
.2
.2
.3
.4
.4
.4
.4
.5
.7
.7
.7
.7
.7
.7
.6
.6
.7
.6
.6
.6
.5
.5
.6
.5
.4
.4
.5
.5
.8
.6
.4
.4
.6
14
15
16
17
18
19 1920
21
22
96 97 98 99 1900 01 02 03 04 05 06
1.6
1.1
07 08 09 1910 11 12 13
Source: Series A69 for 1909 to 1965. Series A68 for 1874 to 1908 - level adjusted by the ratio of the two 1909 values .
'Decade average: 1879-88 centered on 188^
1.4
109
2.2
.7 - . 6
-.5 -1.9 -3.2
.6
.8
.7
.7
.8
.4
.7
.5
.6
.7
.5
.8
.7
.7
.8
1.1
1.4
1.2
1.1
1.2
1.1
1.4
1.1
1.1
1.2
.7
1.5
1.0
1.0
1.1
3.6
3.4
2.1
1.8
1.8
3.3
1.3
1.2
1.3
-.5
.1
.7
.9
1.4
1.9
.0
.3
-1.0
—8
-2.1 -2.1
-2.0 -2.0
-2.0 -2.0
-.2
-1.6
-2.9
-2.7
-2.6
-1.1
-2.5
-3.9
-3.5
-3.3
-1.3
-3.0
-4.6
-H.O
-3.7
-2.4
-«.3
-5.9
-4.9
-4.5
-6.5
-7.3 -8.0
-8.4 -9.4-10.7
-6.6 -6.6 -5.9
-.8
-5.7 -5.5 - • . 7 -1.5 -2.
1.1
.9
-
1.1
1.1
1.1
1.1
.9
.8
2.2
3.0
1.0
1.6
1.6
5.6
3.3
4.0
1.4
6.2
2.0
2.8
2.2
3.1
3.8
4.3
4.2
3.6
2.6
2.3
3.0
3.6
3.6
3.1
2.1
2.0
2.0
1.9
1.7
6.2
2.3
6.7
6.5
1.3
3.5
4.1
4.0
3.4
2.4
2.2
2.2
2.1
1.8
1.8 2.0
1.8 2.0
1.7 1.9
1.6 1.8
1.8
1.8
1.7
1.6
6.3
>.a.4
-1.9
5.0
1.5
2.9
3.7
3.7
3.0
.0
2.1
3.2
3.2
2.6
4.5
£.8
6.3
5.7
4.5
4.1
6.3
6.8
5.9
4.4
8.5
8.1
6.5
4.5
7.7
5.6
3.2
2.0
1.9
1.9
1.9
1.5
1.5
1.4
1.5
1.5
i.l
3.0
2.7
2.7
2.5
2.0
2.7
2.4
2.4
2.2
1.8
2.4
2.2
2.1
2.0
1.5
1 . 0 - 1 . 1 - 3 . 3 FI s . 4
-.6 -2.0 -2.3
.9
-.9
1.1 - . 1 - 1 . 0
.1 - . 5
-.3
1.1
-.9
-.2
.6
1.5
1.5
1.4
1.3
i.l
1.2
1.0
i.O
.7
2.0
1.9
1.8
1.7
1.3
1.7
1.7
1.5
1.4
1.1
1.4
l.S
1.3
1.2
.9
.7
.8
.7
.7
.3
-.1
.0
.0
.0
-.2
-.6
-.3
-.3
-.2
-.6
.9
.9
.8
.6
.7
l.S
1.5
1.3
1.1
1.2
1.3
1.3
1.2
.9
1.0
1.1
1.1
1.0
.7
.8
.6
.6
.5
.3
.4
.0
.2
.1
-.1
.0
.7
.7
.7
.7
.8
1.2
1.1
1.1
1.1
4.1
1.0
.9
1.0
.9
1.0
.9
.8
.8
.9
.5
.4
.5
.5
.5
1.2
i.l
i.O
.7
1.3
1.5
1.3
1.0
1.3
1*4
i.3
1.1
1.1
1.5
1.5
1.4
1.6
1.6
1.4
1.5
1.3
1.2
1.1
1.2
1.1
.9
1.0
1.2
1.2
1.1
1.1
1.1
1.1
1.2
1.2
1.2
1.2
1.1
1.1
1.1
1.0
.9
.9
.9
1.2
1.4
1.3
1.3
1.3
1.3
1.2
1.2
1.4
1.2
1.2
1.2
1.2
1.5
1.3
1.4
1.2
1.2 1.0
i.O •1
.8
3.5
1.0
-1.3,
.7
1.3
1.3
.3
1.9
1.6
.2
1.2
-.6 -2.5
-.5
-.1
-•2
-.1
-.5
.5
.7
.5
.5
.0
.4
.7
.5
.5
-.0
-.0
.3
.2
.2
-.3
-.7
.0
-.0
.0
-.6
i.O
1.4
.7
.7
-.2
1.7
.6
.5
-.5
-.4
.0
-1.3
-.2
-.0
-.1
-.3
-.1
-.1
>0
-.0
-.2
-.0
.4
.5
.4
.1
.3
.3
.5
.3
.0
.2
.1
.3
.2
-.1
.1
.0
.2
.1
-.2
.0
.4
.6
.4
.0
.3
.3
.6
.3
-.1
.2
.0
.4
.1
-.3
.0
.1
.6
.2
-.3
.0
.0
.6
.2
-.5
.0
4.0
3.0
1.6
.3
.8
.1
.0
.1
.1
.2
-.0
-.1
-.0
.0
.1
.0
-.0
.0
• 1
• 1
.3
.3
.3
.4
.5
.3
.2
.3
.3
.4
.2
.1
.2
.2
.3
.1
.0
.1
.2
.3
.4
.3
.4
.4
.5
.3
.2
.3
.3
.5
.1
.0
.2
.2
.4
•2
.1
.2
.3
.4
.2
.1
.2
.3
.4
.9
.6
.7
.8
.9
.3
.1
.3
.3
.5
-.1
-.2
.0
.1
.4
.2
.0
.3
.3
.6
2.1
1.1
1.2
1.1
1.3
1.3
.3
.7
.7
1.0
-.7
.3
.5
.9
l.S
t.l
1.4
1.4
.4
.2
.3
.6
.6
.5
.5
.7
.6
.6
.6
.7
i.l
.8
.7
«9
1.5
1.3
1.3
1.9
2.0
52
53
49
Initial year
1950
51
.4
-1.7 -3.9
2.0
.4 - 1 . 2
-.8 -2.3 -3.4
.0
-.6
-.3
2.9
.8
G R O W T H
G r o w t h
1884
R A T E
T R I A N G L E S
rates of gross
private
product
per
m a n - h o u r ,
initial
a n d
terminal
years
used
as selected
points
3.1
1885
1886
1887
1888
1889
1.9
1890
1891
1892
1893
1894
2.1
2.0
2.3
1.9
1.9
1890' « . 8
1891 3 . 2
1892 4 . 2
1893] 2 . 1
1894
1.8
1.7)'
3.9i' 6.2
l«2i 1.0 - 3 . 8 '
1.0;
.8 - 1 . 7 !
1895
1896
1897
1898
1899
2.1
1.9
2. 1
2.1
2.1
1.3
1.3
1.3
18951
1896
18971
1898
18991
2-5
1«8
2.4
2.3
2.3
2.1
1.3
2.1
2.02.0^
1900
1901
1902
1903
1904
2.0
2.2
2.0
2.0
1.9
1.4
1.7
1.4
1.4
1.3
19001 2 . 2
1901
2.1
1902
1903, 2.1
1904] 2 . 0
1905
1906
1907
1908
1909
1.9
2.1
2.0
1.8
2.0
1.4
1.7
1905j
1906,
1907
1908
1909i
1910
1911
1912
1913
1914
1.9
1.9
1.9
1.9
1.7
1.3
19101
1911
19l2i
1913j
19141
1915
1916
1917
1918
1919
1.7
1.7
1.6
1.7
1.7
1.2
1.2
1.1
1.2
1.3
1920
1921
1922
1923
1924
1.6
1.6
1.7
1.8
1.8
1.2
1.1
1.4
1.5
1.5
1925
1926
1927
1928
1929
1.8
1.9
1.8
1.8
1.9
1.5
1.6
1.5
1.5
1930
1931
1932
1933
1934
1.7
1.7
1.6
1.5
1.7
1935
1936
1937
1938
1939
1.7
1.8
1.8
1.8
1940
1941
1942
1943
1944
1.8
1.9
1.9
1.9
2.0
.4 ;
2.1
2.1
.9
.1
1.4
1.4
1.5
3.4
1.5 ,
2.7:
2.5
2.4 '
3.5
3.1
2.8
2.01
2.4|
1.91
1.9
1.8i
2.0
2.5
1.9
1.9
1.8
1.5,
2.l|
1.5|
1.6
1.4
2.3
2.81
2.1 I
2.1i
1.9
2.0
2.3
2.2
1.8
2.1
1.8
2.2
2«0
1.6
1.9
1.8
1.5
1.9
1.8
1.3
1.7
2.0
1.9
1.9
1.8( 1 . 8
1.8 1.8
1.8 1.8
1.6
1.7
1.5
1.7
1.5
1915,
19161
19171
1918
1919
1.6
1.4
1.5
1.6
1.4
1.4
1.3
1.4
1.5
1.4
1.4
1.4
1.5
1920
1921
1922
1923
1924
1.4
1.4
1.7
1.7
1.7
1.3
1.3
1.6
1.3
1.3
1.7
1.7
1925 i
1926
1927
1928
1929i
1.8
1.9
1.8
1.8
1.8
1.7
1.4
1930;
1931
1932
1933
1934
1.4
1.5
1.5
1.5
1.6
1.6
2.6
S
^
5
p
C
0)
1.8
2.2
1.3
2.1
6.4
2.0
-2.2
2.1
2.0
1.9
6.5
4.1
3.4
2.6
3.2
2.3
2.3
2.0
1.9
2.6
1.7
1.8
2.0
2.4
2.2
1.7
2.0
1.6
1.5j
1.6!
1.5i
1.3j
1
1.8
1.8
1.8
1.6
2.9
3.7
2.4
2.4
2.1
1.8
2.9
1.6
1.7
1.4
1.8
3.3
1.6
1.7
1.4
1.7 j
4.1 ' 6.5
1.5 1 1.4 - 3 . 4
1.7, i 1*7 - . 6
1.3 : 1.2 - . 4
2.3
1.0
-.2
2.1
2.6
2.3
1.8
2.2
1.7
2.2
2.0
1.4
1.9
2.1
2.7
2.4
1.8
2.2
1.6 1 1.6
2.2;
2.3
2.01 2 . 0
1.3|
1.3
1.8,
1.8
1.5 ; 1.5
.2
2.4, ; 2 . 5 1.7
2.01; 2 . 1 1 . 4
1.2: 1 . 2 1
.4
1.8i
1.8 1 1.3
1.5
3.o:
2.4
1.1
2.0
1.1
3.3
2.4
.8
1.9
2.6
5.1
3.3
1.1
2.4
1.9
1.8
1.9
1.8
1.5
2.0
1.9
2.0
1.9
1.6
1.7
1.7
1.7
1.6
1.4
2.0
1.9
2.0
1.9
1.6
1.7 1 1.7
1.6 1 1.6
1.7
1.6
1.6
1.6
1.3 1 1.2
1.7!
1.6 1
1.6
1.5 ,
1.2 i
1
1.1
1.1
1.2
1.1
1.7
1.6
1.7
1.5
1.1
1.6
1.5
1.6
1.5
1.0
2.0
1.8
1.8
1.7
1.2
l.2|
I.2I
1.1
1.2
1.3
1.5
1.5
1.3
1.4
1.5
1.5
1.5
1.3
1.5
1.6
1.3
1.3
1.1
1.2
1.5
1.5
1.4
1.5
1.1
1.2
-9
1.2
1.3
1.1 i 1.1
1.1 i 1.1
.9 ;
.8
1.1
1.1
1.3 I 1.2
.7
.7
.5
.8
1.0
1.0
1.1
.8
1.1
1.2
.9
1.0
.7
1.0
1.2
l.Q
1.1
.7
1.3
l.tt
1.2
1.2
1 . 0 ,!
1.2
1.3
1.1
1.3
1.2
1.2
1.7
1.7
1.4
1.5
1.5
1.3
1.3
1.6
1.7
1.7
1.4
1.3
1.6
1.7
1.7
1.2
1.2
1.5
1.6
1.6
1.3
1.3
1.6
1.7
1,7
1.1
1.1
1.4
1.5
1.5
1.1
1.0
1.4
1.5
1.5
1.0
1.0
1.4
1.5
1.5
1.0
1.0
1.4
1.5
1.5j
.7
.7
1.1
1.3
1.3
1.0
.9
1.4
1.5
1.5
.9
.9
1.-3
1.5
1.5
1.0
.9
1.4
1.6
1.6
1.7
1.8
1.7
1.7
l.a
1.7
1.8
1.7
1.7
1.8
1.6
1.6
1.6
1.6
1.6
1.8
1.8
1.8
1.7
1.8
1.8
1.9
1.8
1.8
1.8
1.7
1.7
1.7
1.6
1.7
1.8
1.9
1.8
1.7
1.8
1.7
1.7
1.7
1.6
1.7
1.7
1.7
1.7
1.6
1.7
1.7
1.7
1.6
1.6
1.7
1.6!
1.7|
1.6!
1.6
1.7
1.5
1.5
1.5
1.4
1.5
1.7
1.7
1.7
1.6
1.7
1.6
1.7
1.6
1.6
1.7
1.6
1.5
1.4
1.2
1.2
1.4
1.6
1.6
1.4
1.3
1.5
1.7
1.6
1.*
1.3
1.6
1.5
1.5
1.3
1.2
1.4
1.6
1.6
1.4
1.3
1.5
1.5
1.4
1.2
1.1
1.4
1.5
1.4
1.2
1.1
1.4
1.5
1.4
1.2
1.1
1.4
1.5
1.4
1.2
1.1
1.4
• 1.3
1.2
1.0
.9
1.2
1.5
1.4
1.2
1.1
1.4
2.2
2.0
1.6
1.9
1.2
1.6
1.1
j
I
1.7:
1.6^
1.6 i
1.51
1.2i
j
7.6
3.6
-.2
.6 -2.6 -4.9;
2.3
1.8
1.6
1.7
1.6
1.0
.6
l.Oi
7.5i
3.7i
2.6
.5
.8
.7
.2
.1
1 . 0 ! 2 . 6i;
.9
2.1!
.31 1 . 2 i
l.Q
.8
-.0
1.4
1.1
-.0
-.0
.2
.3
.Ol
.5
.8,
1.0J
l.Ol
.51
1.0
1.3j
-.0
.1
—2
.4
.7
-.0
.1
-.2
.4
.8
1.0^
1.2
1.2
.4 i
.41
1.0 i
1.3 1
1.3
.9
.9
1.3
1.5
1.5
1.7
1.7
.3
.3
1.0
1.3
1.3
.4
.4
1.1
1.4
1.4
1.7
1.8
1.7
1.6
1.8
1.7
1.7
1.7
1.4
1.5
1.4
1.3
1.5
1.5
1.6
1.5
1.4
1.6
1.9
1.9
1.9
1.7
1.9
1.5
1.6
1.5
1.5
1.6
1.6
1.7
1.6
1.5
1.7
1.4
1.4
l.l
1.0
1.3
1.5
1.4
1.2
l.l
1.4
1.5
1.4
1.1
1.2
1.2
1.3
1.1
1.3
1.2
.9
.8
1.2
1.6
1.5
1.2
1.1
1.4
1.3
1.2
.9
.8
1.2
1.4
1.3
1.0
.8
1.2
l.t.
1.6:
1.5
1.6
1.6
1.5
1.6
1.6
1.6
1.7
1.5
1.3
1.4
1.4
1.4
1.5
1.3
1.5
1.4
1.5
1.5
1.5
1.7
1.7
1.7
1.8
1.3
1.5
1.5
1.5
1.6
1.4
1.6
1.5
1.5
1.6
1.7
1.9
1.6
1.6
1.8
1.7
1.8
1.9
1.8
2.0
1.9
2.0
2.1
1.7
1.8
1.8
1.8
1.9
1.7
1.9
1.8
1.9
2.0
4.4
4.9
3.9
3.6
4.1
4.7
5.4
3.9
3.6
4.2
6.1
3.5
3.2
4.0
1.0
1.7
3.3
2.4
4.5
6.7
1.9
l.S
1.8
1.8
1.8
2.1
2.<y
2.0
2.0
2.0
2.0
1.9
1.8 1
1.9
1.9
2.1
1.9
1.9
1.9
1.9
4.1
3.2
2.9
2.9
2.9
4.2
3.1
2.7
2.8
2.8
4.1
2.8
2.4
2.6
2.5
3.5
2.1
1.8
2.1
2.1
4.4
2.4
2.0
2.2
2.3
5.4
2.4
1.9
2.2
2.2
4.2
.4 •3.2
.4 t l . 4
1.1 T .1
1.4
.7
.3 :
1.8
3.4
2.0
2.9
2.0
2.0
2.1
2.1
2.1
2.2
2.2
2.2
2.3
2.3
2.0
2.1
2.1
2.2
2.2
2.1
2.1
2.2
2.2
2.2
3.4
3.5
3.4
3.5
3.5
3.3
3.4
3.4
3.5
3.4
3.2
3.3
3.3
3.4
3.3
2.9
3.0
3.0
3.2
3.1
3.1
3.3
3.2
3.4
3.3
3.2
3.4
3.3
3.5
3.4
2.6
2.9
2.9
3.1
3.1
2.3
2.7
2.7
3.0
2.9
3.8
3.9
3.8
3.9
3.7
5.0
4.9
4.5
4.5
4.2
4.6
3.8
2.9
4.0 , 3.8
3.7
3.4
3.1
2.8
2.8
2.7
2.8 :
3.8
3.4
3.3
3.3
3.3
4.3
3.8
3.7
3.5
3.6
3.8
3.2
3.1
3.0
3.1
3.6
2.9
2.9
2.8
2.9
3.9
2.9
2.8
2.7
2.9
3.5
2.3
2.4
2.4
2.7
.9
.9
.6
1.0
.3
.8
1.6
1.7
1.6
1.6
1.4
1.4
1.6
1.4
1.3
1.5
1.6
1.5
1.41.3
1.5
1935
1936
1937
1938
1939
1.6
1.7
1.7
1.7
1.8
1.6
1.7
1.6
1.7
1.7
1.6
1.7
1.6
1.7
1.7
1.3
1.6
1.5
1.6
1.6
1.6
1
1.7
1.7
1.7
1.6
1.7
1.7
1.7
1.8
1.5
1.6
1.6
1.6
1.7
1.6
1.7
1.7
1.7
1.8
1.5
1.6
1.6
1.6
1.6
1.5
1.6
1.6
1.6
1.6
1.5
1.6
1.6
1.6
1.6
1.5
1.6
1.6
1.6
1.6
1.3
1.5
1.4
1.4
1.5
1.5
1.6
1.6
1.6
1.6
1940:
1941
1942
1943
1944
1.8
1.9
1.9
1.9
2.0
1.8
1.8
1.8
1.8
1.9;
1.8
1.9
1.8
1.8
1.9
1.7
1.8
1.7
1.8
1.9
1.8
1.9
1.9
1.9
2.0
1.8
1»9
1.9
1.9
2.0
1.7
1.8
1.8
1.8
1.9
1.8
1.9
1.9
1.9
2.0
1.7
1.8
1.8
1.9
1.7
1.8
1.8
1.8
1.9
1.7
1.8
1.8
1.8
1.9
1.7
1.8
1.8
ii • 9
1.6
1.7
1.7
1.7
1.8
1.7 , 1.7
1.8
1.8
1.8
1.8
1.8
1.8
1.9
1.9
1.8
1.9
1.9
1.9
2.0
1945
1946
1947
1948
1949
2.0
1.9
1.9
1.9
1.9
1945
1946
1947
1948
1949
2.0
1.9
1.9
1.9
1.9
2.0J
1.9
1.8
1.9
1.9
2.0
1.9
1.8
1.9
1.9
1.9
1.8
1.8
1.8
1.8
2.0
1.9
1.9
1.9
1.9
2.0
1.9
1.9
1.9
1.8
1.9
1.9
1.9
2.0
1.8
1.8
1.8
1.9
2.0
1.8
1.8
1.8
1.9
2.0
1.8
1.8
1.8
1.9
2.0
1.8
1.8
1.8
1.9
1.9
1.7
1.7
1.8
1.8
2.0
1.9
1.8
1.9
1.9
2.0
1.9
1.8
1.9
1.9
2.0
1.9
1.9
1.9
1.9
1950
1951
1952
1953
1954
2.0
2.0
2.1
2.1
2.1
1950i
1951
1952
1953
1954
2.0
2.1
2.1
2.1
2.1
2.0
2.0
2.1
2.1
2.1
2.0
2.0
2.1
2.1
2.1
1.9
2.0
2.0
2.0
2.0
2.0
2.1
2.1
2.1
2.1
2.1
2.1
2.1
2.2
2.2
2.0
2.0
2.1
2.1
2.1
2.1
2.1
2.1
2.2
2.2
2.0
2.0
2.1
2.1
2.1
2.0
2.0
2.1
2.1
2.1
2.0
2.0
2.1
2.1
2.1
2.0
2.1
2.1
2.1
2.1
1.9
2.0
2.0
2.0
2.0
2.0
2.1
2.1
2.1
2.2
2.0
2.1
2.1
2.1
2.2
2.1
2.1
2.1
2.2
2.2
2.1 2.02.1 2.0
2.2 2.1
2.2 2.1
1955
1956
1957
1958
1959
2.1
2.1
2. 1
2. 1
2.1
2.1
2.1
2.0
2.1
2.1
2.1
2.2
2.1
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.1
2.1
2.1
2.0
1955
1956;
1957
1958
1959
2.2
2.1
2.1
2.1
2.2
2.3
2.3
2.3
2.3
2.3
2.2
2.2
2.2
2.2
2.2
2.3
2.2
2.2
2.2
2.3
3.5
3.3
3.3
3.2
3.3
3.5
3.3
3.2
3.2
3.2
3.4
3.2
3.2
3.1
3.2
3.2
3.0
3.0
2.9
3.0
3.4
3.1
3.1
3.1
3.1
3.5
3.2
3.2
3.1
3.2
3.2
2.9
2.9
2.8
2.9
1960
1961
1962
1963
1964
2.1
2.1
2.2
2.2
2.2
2.0
2.0
2.0
2.1
2.1
1960
1961
1962|
1963
1964
2.1
2.1
2.1
2.1
2.2
2.2
2.2
2.2
2.2
2.3
2.2
2.2
2.2
2.3
2.3
2.2
2.2
2.2
2.2
2.1
2.3
2.3
2.3
2.3
2.3
2.3
2.2
2.2
2.2
2.2
2.3
2.3
2.3
2.4
2.4
2.4
2.2
2.2
2.3
2.3
2.3
2.3
2.3
2.3
2.3
2.4
3.2
3.1
3.2
3.2
3.2
3.1
3.1
3.2
3.2
3.2
3.1
3.0
3.1
3.1
3.2
2.9
2.9
3.0
3.0
3.0
3.0
3.0
3.1
3.1
3.1
3.0
3.0
3.1
3.1
3.1
2.8
2.8
2*9
3.0
3.0
2.7 { 3.2 3.4
2.7 ! 3.1 3.3
2.9 1 3.3 3.5
2.9 j3.3
3.4
, 2 . 9 |i3.3 3 . 4
2.9
2.9
3.1
3.1
3.1
2.7
2.7
3.0
3.0
3.0
2.7
2.7
3.0
3.0
3.0
2.4
2.5
2.8
2.8
2.9
1965
2.2
2.1
2.3| ! 2.4
2.3
2.4
3.2
113.2
3.1 |3.0
3.1
13.1
3.0
' 2.9
3.1 ' 3.0
3.0
2.9
1.8
1.9
2.0
2.0
2.0
2.0
2.0
i
2.1
2.2
2.1
2.1
2.2
2.1
2.1
2.1
2.1
2.1
2.2
2.2
2.2
2.2
2.2
2.2
2.1
2.1
2.2
2.2
2.2
2.1
2.1
2.2
2.2
2.2
2.2
2.2 2.1
2.2
l.a
i.sJ
2.2 2.1 2.2 2.1 2.2 2.2 2.2 2.1 2.2
2.2
2.2
2.2
2.2
2.1
2.1
2.1
2.1
2.2
2.2
2.2
2.2
2.2
2.2
2.1 2.2
2.1 2 . 2
2.2
2.3
2.3
2.2
2.2
2.2
2.3
2.3
2.3
2.1 2.1 2.1 2 . 1 2 . 0 2 . 2
2.1 2.1 2.1 2.1 2.1 2.2
2.1 2.1 2.1 2.1 2.1 2.2
2.2 2.2 2.2 2.2 2.1 2.2
2.1
2.1 2.1
2.2
2.1 2.2 2.2 2.2
2.2 2.2 2.2 2.2
2.2 2.2 2.2 2.2
2.2 2 . 2 ! 2.2 2.2
2.1 2.2
2.1 2 . 2
2.1 2.2
2.2
2.2
2.3
2.3
1.0
1.6
1.6
1.6
1.7
.9
.8
1.9
1.7
1.7
1.7
2.0
1.8
2.0
1.9
1.8
1.9
1.9
1.9
1.9
2.1
1.8
1.7
1.8
1.8
1.9
2.1
2.1
2.1
2.2
2.2
2.2
1
1874'
1884'
' D e c a d e average. 1 8 6 9 - 7 8 centered on 1 8 7 4
Digitized
' D e c afor
d e FRASER
average: 1 8 7 9 - 8 8 centered
1889 1890 9 1
92
93
94
95
96
97
98
99 1 900 0 1
02
03
04
05
06
07
I
08
09 1910 11
12
Source: S e r i e s A 1 5 7 for 1 9 0 9 t o 1 9 6 5 . S e r i e s A 1 5 6 for 1 8 7 4 t o 1 9 0 8 - level a d j u s t e d by t h e r a t i o of t h e t w o 1 9 0 9 v a l u e s .
on 1 8 8 4
110
13
14
15
16
17
18
19 1920 21
22
23
24
25
26
27
28
29 1930
Initial y e a r
31
32
33
34
35
36
37
38
39 1 940 41
42
43
1
44
45
3.3
46
3.4
47
48
j .,
•4.6^
2.7
3.7
49 1 950 51
52
53
54
55
56
57
58
59 1960 6 1
62
63
64
GROWTH RATE TRIANGLES
Growth rates of gross national product, linear trend fitted to logarithms
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1891*
7.3
5.9
6.9
4.6
2.9
4.6
7.1
3.6
1.6
9.6
2.2 - 4 . 7
-.0 -3.7 -2.8
1895
1896
1897
1898
1899
3.2
2.9
3.2
3.3
3.6
2.5
2.3
2.8
3.0
3.4
2.5
2.9
3.4
1900
1901
1902
1903
1904
3.7
4.1
4.2
4.3
4.2
3.6
4.0
4.2
4.3
4.2
1905
1906
1907
1908
1909
4.2
4.4
4.4
4.3
4.3
1910
1911
1912
1913
191i*
1.8
.8
1.1
a.4
2.8
3.5
4.3
3.1
4.1
4.1
4.6
12.1
4.7 - 2 . 1
5.4
3.5
4.9
3.7
5.4
4.8
3.6
4.1
4.3
4.4
4,3
3. 8
4.3
4.5
4.6
4.5
4.7
5.2
5.2
5.2
4.9
5.2
5.7
5.6
5.5
5.1
4.B
5.5
5.4
5.4
5.0
5.8
6.4
5.8
5.2
5.8
5.6
4.9
6.2
5.7
4.8
7.0
5.6
5.2
4.1
4.2
4.4
4.5
4.3
4.3
4.3
4.5
4.5
4.3
4.3
4.4
4.6
4.7
4.4
4.4
4.8
5.0
5.0
4.7
4.6
5.0
5.1
5.1
4.8
4.7
4.8
5.0
5.0
4.6
4.5
5.0
5.2
5.2
4.7
4.6
4.7
5.0
5.0
4.5
4.4
4.6
5.0
5.0
4.4
4.3
4.2
4.2
4.2
4.1
4.0
4.2
4.2
4.2
4.1
4.0
4.3
4.2
4.2
4.2
4.0-
4.3
4.3
4.3
4.2
4.1
4.5
4.4
4.4
4.3
4.2
4.6
4.5
4.4
4.3
4.1
4.4
4.3
4.3
4.2
4.0
4.5
4.4
4.3
4.2
4.0
4.3
4.2
4.1
4.1
3.8
1915
1916
1917
1918
1919
3.9
3.8
3.8
3.7
3.7
3.9
3.8
3.7
3.7
3.7
3.9
3.8
3.7
3.7
3.6
3.9
3.8
3.7
3.7
3.6
4.0
3.9
3.8
3.7
3.7
3.9
3.8
3.7
3.7
3.6
3.8
3.7
3.6
3.6
3.5
3.8
3.7
3.5
3.5
3.5
1920
1921
1922
1923
1921
3.6
3.4
3.4
3.4
3.3
3.6
3.4
3.3
3.3
3.3
3.5
3.4
3.3
3.3
3.3
3.5
3.3
3.3
3.3
3.2
3.5
3.4
3.3
3.3
3.2
3.5
3.3
3.2
3.2
3.2
3.4
3.2
3.1
3.1
3.1
1925
1926
1927
1928
1929
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.2
3.3
3.3
3.2
3.2
3.2
3.3
3.3
3.2
3.2
3.2
3.2
3.2
3.2
3.2
1930
1931
1932
1933
1934
3.3
3.2
3.1
2.9
2.8
3.2
3.2
3.0
2.9
2.8
3.2
3.1
3.0
2.9
2.8
3.2
3.1
3.0
2.8
2.7
3.2
3.1
2.9
2.8
2.7
1935
1936
1937
1938
1939
2.8
2.7
2.7
2.7
2.7
2.7
2.7
2.7
2.6
2.6
2.7
2.7
2.6
2.6
2.fr
2.7
2.6
2.6
2.6
2.6
1940
1941
1942
1943
1944
2.7
2.7
2.7
2.8
2.8
2.6
2.6
2.7
2.7
2.8
2.6
2.6
2.7
2.7
2.8
1945
1946
1947
1948
1949
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
1950
1951
1952
1953
1954
2.9
2.9
2.9
3.0
3.0
1955
1956
1957
1958
1959
3.0
3.0
3.0
3.0
3.0
i.a
9.4
5.8
6.4
2.3
5.7
5.1
6.2
9.1
5.9
7.2
11.5
6.1
1.0
5.2
3.7
2.9
1.9
4.9
4.1
4.7
4.8
4.0
4.0
4.8
3.9
3.9
2.7
4.2
4.5
3.4
3.5
3.1
5.0
5.1
3.6
3.7
3.0
5.9
5.7
3.5
3.6
7.4
9 . 5 11.6
7.3 6.5
1.6
3.5
-3.4 -8.2
3.7
.5
1.5 12.3
4.2
4.1
4.1
4.0
3.7
3.9
3.9
3.9
3.8
3.5
3.8
3.7
3.8
3.7
3.4
3.5
3.5
3.6
3.5
3.2
3.6
3.6
3.6
3.6
3.2
3.6
3.5
3.6
3.5
3.2
3.7
3.6
3.6
3.5
3.1
2.8
2.9
3.2
3.2
2.7
1.8
2.3
2.8
2.9
2.4
2.9
3.2
3.6
3,4
2,7
7.5
5.5
5.2
4.4
3.2
2.8
2.7
3.6
3.2
2.0
2.6
4.1
3,3
1.6
5.7
3.3
.9
.7 - 1 . 7
3.6
3.5
3.4
3.4
3.3
3.5
3.4
3.3
3.3
3.2
3.3
3.2
3.1
3.1
3.1
3.2
3.1
3.0
3.0
3.0
3.0
2.9
2.8
2.9
2.8
2.9
2.8
2.7
2.8
2.8
2.8
2.7
2.6
2.8
2.7
2.7
2.6
2.5
2.7
2.7
2.3
2.3
2.2
2.5
2.4
2.0
2.0
2.0
2.3
2.3
2.1
2,1
2.1
2.4
2.4
2.4
2.3
2.2
2.6
2.6
1.2
1.5
1.5
2.1
2.2
.7
1.2
1.3
2.1
2,1
- . 1 -1.7
.7
.1
1.0
.7
2.1 2.1
2.2 2.2
3.3
3.1
3.0
3.0
3.0
3.2
3.0
2.9
2.9
2.9
3.1
2.9
2.8
2.8
2.8
2.9
2.7
2.7
2.7
2.7
2.8
2.6
2.5
2.6
2.6
2.7
2.4
2.4
2.5
2.5
2.7
2.4
2.3
2.4
2.4
2.6
2.3
2.2
2.3
2.4
2.5
2.2
2.1
2.3
2.3
2.3
2.0
1.9
2.1
2.2
2.1
1.8
1.8
2.0
2.1
2.2
1.8
1.8
2.0
2.1
2.3
1.8
1.8
2.0
2.2
1.9
1.4
1.5
1.8
1.9
1.9
1.3
1,4
1.7
1.9
1.8
1.2
1.3
1.7
1.9
1.8
1.0
1.2
1.7
1.9
2.2
1.1
1.3
1.9
1.2
2.2 2.1
3.1
3.1
3.1
3.1
3.1
3.0
3.1
3.1
3.1
3.1
2.9
3.0
3.0
3.0
3.0
2.9
2.9
2.9
2.9
2.9
2.7
2.8
2.8
2.8
2.9
2.7
2.7
2.8
2.8
2.8
2.6
2.6
2.7
2.7
2.8
2.5
2.6
2.7
2.7
2.7
2.5
2.6
2.6
2.7
2.7
2.4
2.5
2.6
2.6
2.7
2.3
2.4
2.5
2.6
2.6
2.2
2.4
2.5
2.5
2.6
2.3
2.5
2.5
2.6
2.7
2.3
2.5
2.6
2.7
2.8
2.2
2.4
2,5
2.6
2.7
2.2
2.4
2.6
2.6
2.7
2.2
2.5
2.6
2.7
2.8
2.3
2.6
2.7
2.8
2.9
2.5
3.0
3.0
3.1
3.2
3.1
2.9
2.8
2.6
3.1
3.0
2.8
2.7
2.6
3.0
2.9
2.8
2.6
2.5
3.0
2.9
2.7
2.5
2.4
2.9
2.8
2.6
2.4
2.3
2.8
2.7
2.5
2.4
2.2
2.8
2.7
2.5
2.3
2.2
2.7
2.6
2.4
2.2
2.1
2.7
2.6
2.4
2.2
2.0
2.7
2.5
2.3
2.1
2.0
2.6
2.5
2.3
2.1
1.9
2,6
2.4
2.2
2.0
1.8
2.5
2.4
2.1
1.9
1.8
2.6
2.4
2.2
1.9
1.8
2.7
2.5
2.2
1,9
1.7
2.6
2.4
2.1
1.8
1.6
2.6
2.4
2.1
1.8
1.6
2.7
2.5
2.1
1.7
1.5
2.8
2.5
2.1
1.7
1.5
2.9
1.7
1.5
1.7
1.5
1.6
2.6
2.6
2.6
2.5
2.5
2.6
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.4
2.4
2.4
2.4
2.4
2.4
2.4
2.3
2.3
2.3
2.3
2.3
2.3
2.2
2.2
2.2
2.2
2.2
2.2
2.2
2.1
2.1
2.1
2.1
2.1
2.1
2.1
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
1.9
1.9
1.9
1.9
1.9
1.9
1.9
1.9
1.9
1.9
1.8
1.8
1.8
1.8
1.8
1.7
1.7
1.7
1,7
1.8
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.5
1.6
1.6
1.6
1.7
1.5
1.5
1.6
1.6
1.6
1.5
1.5
1.6
1.6
1,6
1.4
1.5
1.5
1.5
1.6
1.4
1.4
1.5
1.5
1.4
1.4
1.5
1.5
2.5
2.6
2.6
2.7
2.8
2.5
2.6
2.6
2.7
2.7
2.5
2.5
2.6
2.6
2.7
2.4
2.4
2.5
2.6
2.7
2.4
2.4
2.5
2.5
2.6
2.3
2.3
2.4
2.5
2.6
2.2
2.3
2.4
2.4
2.5
2.2
2.2
2.3
2.4
2.5
2.1
2.2
2.3
2.4
2.5
2.0
2.1
2.2
2.3
2.4
2.0
2.1
2.2
2.3
2.4
2.0
2.0
2.1
2.3
2.4
1.9
2.0
2.1
2.3
2.4
1.9
1.9
2.1
2.2
2.4
1.8
1.9
2.0
2.2
2.3
1.8
1.9
2.1
2.2
2.4
1.8
1.9
2.1
2.2
2.4
1.7
1.8
2.0
2.2
2.4
1.7
1.8
2.0
2.2
2.4
1.7
1.8
2.0
2.2
2.4
1.7
1.8
2.0
2.2
2.4
1.7
2.8
2.8
2.8
2.9
2.9
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.7
2.7
2.8
2.8
2.8
2.7
2.7
2.7
2.7
2.7
2.6
2.7
2.7
2.7
2.7
2.6
2.6
2.7
2.7
2.7
2.6
2.6
2.6
2.6
2.7
2.5
2.6
2.6
2.6
2.6
2.5
2.6
2.6
2.6
2.6
2.5
2.5
2.6
2.6
2.6
2.5
2.5
2.6
2.6
2.6
2.5
2.5
2.6
2.6
2.6
2.5
2.5
2.5
2.6
2,6
2.5
2.5
2.5
2.6
2.6
2.5
2.5
2.6
2.6
2.6
2.5
2,6
2.6
2,6
2,6
2.5
2.6
2.6
2.6
2.6
2.5
2.6
2.6
2.6
2.7
2.6
2.6
2.6
2.7
2.7
2.6
2.6
2.7
2.7
2.7
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.8
2.9
2.9
2.9
2.9
2.8
2.8
2.9
2.9
2.9
2.8
2.8
2.8
2.9
2.9
2.8
2.8
2.8
2.8
2.9
2.7
2.8
2.8
2.8
2.8
2.7
2.7
2.8
2.8
2.8
2.7
2.7
2.7
2.8
2.8
2.7
2.7
2.7
2.8
2.8
2.6
2.7
2.7
2.7
2.8
2.6
2.7
2.7
2.7
2.8
2.6
2.7
2.7
2.7
2.8
2.6
2.7
2.7
2.7
2.8
2,6
2,7
2.7
2.7
2.8
2.6
2.7
2.7
2.7
2.8
2.7
2.7
2.7
2.8
2.8
2,7
2,7
2,8
2.8
2.8
2.7
2.7
2.8
2.8
2.8
2.7
2.8
2.8
2.8
2.9
2.7
2.8
2.8
2.9
2.9
2.8
2.8
2.9
2.9
2.9
2.9
2.9
3.0
3.0
3.0
3.0
3.0
3.0
3.0
2.9
3.0
3.0
3.0
3.0
2.9
3.0
3.0
3.0
3.0
2.9
2.9
3.0
3.0
3.0
2.9
2.9
2.9
2.9
3.0
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.8
2.9
2.9
2.9
2.9
2.8
2.9
2.9
2.9
2.9
2.8
2.8
2.9
2.9
2.9
2.8
2.8
2.8
2.9
2.9
2.8
2.8
2.8
2.8
2.9
2.8
2.8
2.8
2.8
2.9
2.8
2,8
2.8
2.9
2.9
2.8
2.8
2.8
2.9
2.9
2.8
2.8
2,8
2,9
2,9
2.8
2.8
2.9
2.9
2.9
2.8
2,9
2,9
2.9
2.9
2.9
2,9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2,9
2.9
2.9
3.0
3.0
3.0
2.9
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
2.9
2.9
2.9
2.9
2.9
2,9
2,9
2,9
2.9
3.0
2.9
2.9
2.9
2.9
3.0
2.9
2.9
3.0
3.0
3.0
3.0
3,0
3,0
3.0
3.0
3,0
3,0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.1
3.1
3.1
1910
6.1
1.8 - 1 . 2
1960
1961
1962
1963
1964
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.03.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
2.9
2.9
3.0
3.0
3.0
2.9
2.9
2.9
3.0
3.0
2.9
2.9
2.9
2.9
3.0
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
1965
3.1
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
2.9
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
92
93
94
96
97
98
01
02
03
04
05
06
07
08
09
1889 1890 91
95
99 1900
1.3
3.0
2.9
-.8
3.4
3.0
4.7
4.0
7.9
4.2
6.2
4.6
2.8 2.8
6 . 3 12.3
3.8 4 . 1 - 3 . 5
1.3
1.5
.9
2.4
2.4
.7 - 3 . 9 - 4 . 3
1.6
- . 4 - 1 . 8 - 5 . 4 - 6 . 5 -6.6
.4 - . 2 - 1 . 8
- . 5 2 . 8 15.8
1 . 6 1 . 5 1 . 1 3 . 1 6 . 8 13.9 1 2 . 1
5.8
2.1 2.2 2.0
3.7 6 . 1 9.3
2.8
2.9
3.2
3.3
3.3
3.4
2.7
3.2
3.3
3.3
3,4
2.9
3.4
3.5
3.5
3.6
3.0
3.6
3.7
3.6
3.7
4.4
4.8
4.7
4.4
4.3
6.3
6.3
5.7
5.1
4.9
8.2
3.1
3.2
3.2
3.3
7.6
6.5
5.6
5.2
6.0
5.9
2,9
1.9
2.6
-.0
.2
2,2
,6
3,6
i.l
3.1
3.2
2.7
1.9
1.3
1.0
3.2
2.6
1.8
1.1
.8
3.7
2.9
1.9
4.1
3.1
1.9
4.1
3.0
1.1 1.0
1.3
3,1
2.6
2,0
1.4
1>2
.8
1.6
.6
.7
.3
.9
3.1 2.3 2.1
1.9
1.1
.6
-.5
.5 - . 4 - 1 . 1 - 2 , 4
-.3 -1.3 -2.0 -3,3
-.6 -1.4 -2.1 -3,0
,0
-1.6
-3.7
-4.4
-3.9
-.3
-2.6
-5,0
-5,5
-4,6
1.3
1.3
1.4
1.4
1.5
1.1
1.2
1.3
1.3
1.4
.9
1.1
1,2
1,2
1.3
.8
.9
1.1
1.1
1.3
.6
.8
1.0
.3
.5
1.5
1.8
2.0
2.3
2.6
1.5
1.7
2.0
2.3
2.6
1.4
1.7
2.0
2.3
2.6
2.9
2.9
2.8
2.8
2.8
2.9
2.9
2.8
2.9
2.9
2.9
2.9
2.9
3.0
3.0
3.0
2.9
3.0
3.0
3.0
3.1
2.9
3.0
3.0
3.1
3.1
3.0
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.2
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.2
3.2
3.2
3.1
3.1
3.2
11
12
13
2.2
2.8
2.6 2 . 7 2 . 7
2.1 2.2 2.1
1.6
4.0
5.0
4.2
3.4
3.5
8.4
7.2
4.8
3.5
3.6
-1.9
-4.4
-7.1-7.1
-5.5
-9.8
-8.7
10.5-9.1
-6.3
-7.6
11.3- 14.7
-8.9 -8.5 -1.8
3.4
-5.0 -2.8
1.3
1.2 1.1
-.5 -1.1 -1.6 -2,4 -2.9 -3,3 -3.6 -3.7 -1.9
-.1 - . 6 - . 9 -1,4 -1.7 -1.7 -1.6 -1.2
.8
.3 - . 0 - . 3
-.6
-.7
-.2
.4 2 . 3
-.5
.4
.1 -.0
-.2
-.2
.9 2.6
.2
-.0
.7
.4
.3
.2
.2
.9
1.5 3 . 0
.5
1.5
1.7
1.4
1.0
2.1
2.1
2.1
2.4
2.7
2.5
2.8
2.5
2.9
2.8
2.9
2.9
2.9
3.0
3.0
3.0
3.0
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.0
3.0
3.1
3.1
3.1
3.0
3.1
3.1
3.2
3.2
3.1
3.2
3.2
3.2
3.3
3.1
3.2
3.2
3.2
3.2
3.2
3,2
3,2
3,2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3.2
3,2
3.2
3.3
3.2
3.2
3.2
14
15
16
1.6
1.8
2.0
2.3
2.5
2.7
2.7
2.7
5.9
5.1
4.3
4.1
2.7
2.7
2.8
2.8
2.8
2.8 2.6
2.8
2.8 2.8
2.8 2 . 9
1.2
1.1
.8
.9
111
5.9 9.5
9.9
7 . 9 10.8 11.8 13.9
8 . 1 9 . 9 10.0 9 . 5
7,4
6.7
4.5
6.5
6.3 6,7
5.8 4.3
5.3
.0 - 5 . 0
1.5
2.0
8.6
1.4
1.9
2.3
2.7
.8
1.3
1.8
2.3
2.8
.7
1.3
1.9
2.4
2.9
.7
1.3
1.9
2.5
3.1
.8
1.4
2.1
2.8
3.4
1.1
1.8
2.5
3.2
3.8
1.5
2.3
3.1
3.8
4.4
2.1
3.0
3.7
4.5
5.0
3.5
4.2
4.9
5.6
6.1
4.8
5.5
6.1
6.7
7.1
6.2
6.7
7.3
7.8
8.1
6,5
7,0
7,6
8,2
8,5
5.8
6.7
7.5
8.2
8.5
4,9
6,2
7.3
8.2
8.6
3.6 4.3 8.5
8.5
5 . 8 7 . 1 10.7 12.2 1 6 . 1
7 . 4 8 . 7 11.6 12.8 14.5 1 2 . 9
8 , 5 9 . 8 1 2 . 1 13.0 1 3 . 9 1 3 . 1 1 3 . 2
8,9 10.0
3.1
3.2
3.2
3.2
3.2
3.0
3.1
3.1
3.1
3.1
3.1
3.1
3.1
3.2
3.2
3.2
3.3
3.3
3.3
3.3
3.4
3.4
3.4
3.4
3,4
3.7
3.7
3.7
3.6
3.6
4.1
4.1
4,0
4,0
3.9
4.6
4.6
4.4
4.3
4.2
5.3
5.1
4.9
4.8
4.6
6.3
6.0
5.6
5.4
5.1
7.2
6.7
6.3
5.9
5.6
8.0
7.4
6.8
6.3
5.9
8,3
7.6
6.9
6.3
5.9
8.3
7.4
6.7
6.1
5.6
8.4
7.3
6.5
5.8
5.3
8.5
7.3
6.3
5.6
5.0
9 . 3 1 0 . 4 10.4
7 . 7 8.1 7 . 5
6.4 6.5 5.7
5.6 5.5 4.7
4 . 9 4.7 3.9
9.9
6.4
4.4
3.5
3.2
3.2
3.3
3.3
3.3
3.2
3.3
3.3
3.4
3.4
3.2
3.2
3.3
3.3
3.3
3.2
3.3
3.3
3,4
3.4
3.3
3.4
3.4
3.5
3.5
3,4
3,5
3,5
3,6
3.6
3.6
3.7
3.7
3.7
3.7
3.9
3.9
3.9
3.9
3.9
4,2
4,2
4.2
4.2
4.1
4.5
4.5
4.5
4.4
4.4
5.0
4.9
4.9
4.8
4.7
5.4
5.3
5.2
5.1
4.9
5.7
5.5
5.4
5.2
5.1
5.6
5.4
5.3
5.2
5.0
5.3
5.2
5.0
4.9
4.8
5.0
4.9
4.8
4.7
4.5
4.7
4.6
4.5
4.5
4.3
4.6
4.5
4.4
4.3
4.2
4.4
4.3
4.3
4.2
4.0
3.7
3.7
3.7
3.7
3.6
2.8
3.3
3.3
3.3
3.3
3.3
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.5
3.5
3.5
3.5
3.5
3.6
3.6
3.6
3.6
3.6
3.7
3.7
3.7
3.7
3.7
3.9
3.9
3.9
3.8
3.8
4.1
4.1
4.1
4.0
4.0
4.3
4,3
4.2
4.2
4.1
4.6
4.6
4.5
4.4
4.3
4.8
4,8
4.7
4.5
4.5
5.0
4.9
4.8
4.6
4,5
4.9
4.8
4.7
4.5
4.4
4.7
4.6
4.5
4.3
4.2
4.5
4,4
4,3
4,1
4,1
4.2
4.2
4.1
4.0
3.9
4.1
4.1
4.0
3.8
3.8
4.0
3.9
3.8
3.7
3.7
3.6
3.6
3.5
3.4
3.4
3.2
3.2
3.2
3.1
3.1
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.4
3.5
3.5
3.5
3.5
3.5
3,5
3,5
3,5
3.5
3.5
3.6
3.6
3.6
3.6
3,6
3.8
3.7
3.7
3.7
3.7
3,9
3.9
3.8
3.8
3.8
4.1
4.0
4.0
3.9
3.9
4.2
4.2
4.1
4.1
4.1
4.4
4.3
4.2
4.2
4.2
4.4
4.3
4.3
4.2
4.2
4.3
4.2
4.2
4.1
4.1
4.2
4.1
4.0
4.0
3.9
4,0
3,9
3.9
3.8
3.8
3.8
3.7
3.7
3.7
3.7
3.7
3.6
3.6
3.6
3.6
3.6
3.5
3.5
3.5
3.5
3.3
3.3
3.3
3.3
3.3
3.3
3.3
3.4
3.4
3.4
3.4
3.4
3.5
3.5
3,6
3.7
3.8
3.9
4.1
4.1
4.2
4.1
3.9
3.8
3.7
3.6
3.5
3.3
17
18
19
22
23
23
24
25
25
26
26
27
28
29 1930
31
32
33
34
34
35
35
36
37
38
1.8
1.3
1.7
1920 21
Initial year
Source: Series A2 for 1909 to 1965. Series A1 for 1889 to 1908 - level adjusted by the ratio of the two 1909 values.
9.1
.7
3.6
4.8
4.5
4.6
2.8
7.2
8.2 6.2
-1.6
4.2
2.3
1.7
1.3
•6.9-11.9
-.5
-.6
-.8
1.8
1.5
4.5
2.3
2.2
3.1
3.1
3.1
4.2
4.5
4.6
4.2
2.4
2.5
2.5
2.5
2.5
2.7
2.7
2.7
2.7
3.3
3.3
3.3
3.1
3.1
4.2
4.1
4.0
3.7
3.6
4.5
4.3
4.1
3.8
3.6
4.6
4.3
4.0
3.6
3.5
4.6
4.3
3.9
3.5
3.4
3.7
3.6
3.3
2.9
2.9
3.0
3.1
2.9
2.5
3.0
3.0
3.0
3.1
3.1
2.8 2.6 2.6
2.8 2.6 2.6
2.7
2.7
3.1
3.1
3.1
3.1
3.2
3.5
3.4
3.4
3.4
3.4
3.5
3.4
3.4
3.4
3.5
3.4
3.3
3,3
3.3
3.4
3.3
3.2
3.2
3.2
3.3
3.2
2.9
3.0
3.1
3.1
1.5
1.9
2.7
1.5 - 2 . 3
- . 0 - 3 . 0 -5.6 - 6 . 5
- . 1 -2.1 -3.4 - 2 . 7
- . 1 -1.6 - 2 . 2 - 1 . 4
2.2
1.1 . 5
1.6 1.2
2.5
2.5
2.0
2.7
2.7
2.3
2.5
2.5
2.5
2.8
2.7
2.7
2.8
2.8
2.1
2.6
.7
1.5
1.7
1.9
2.1
2.2
2.8
1.9
2.6
4.8
6.2
9.6
8.8
5.8
5.5
4.7
6.9
4.7
7.9
5.5
4.9
3.5
6.1
3.1
3.8
2.3
1.5
-1.3
3 0
3.1
2.6
3.0
3.1
2.9
2.3
2.5
2.9
2.8
2.9
3.0
3.1
2.6
2.6
2.7
2.8
3.0
2.5
2.5
2.7
2.9
3.0
2.4
2.5
2.7
2.9
3.1
2.6
2.6
2.8
3.0
3.2
7,
2.8
2.1
1.4
.1 -1.1
1.8 2.6
6.4
2.1
2.2
2.6
2.9
3.2
2.3
2.4
2.9
3.2
3.4
2.9
2.8
3.3
3.5
3.8
4.4
3.5
3.9
4.0
4,2
2.5
2.2
3.5
3.8
4.1
2.0
4.2
4.4
4.6
6.6
5.3
5.1
4.0
4.6
5.3
4.4
4.9
5.3
5.1
5.6
5.9
59 1960 61
62
63
64
2.3
2.7
2.7
2.7
2.7
2.9
2.8 2.8
2.9
2.9
3.0
2.9
2.9
3.0
3.3
3.5
3.5
3.5
3.4
3.2
3.2
3.2
3.3
3.4
3.4
3.7
4.0
4.4
39 1940 41
42
43
44
45
46
47
48
49
1950
51
52
53
54
55
56
57
58
BIBLIOGRAPHY
The principal works used in developing the
fornnat and contents of this publication are
listed in this section. The series descriptions
in appendix 2 contain additional references to
studies and sources of the series included in
this issue.
books:
Dewhurst, J. Frederic. America's Needs and
Resources: A New Survey. New York: The
Twentieth Century Fund, 1955.
Friedman, Milton, and Schwartz, Anna Jacobson.
A Monetary History of the United States, 18671960. National Bureau of Economic Research:
Studies in Business Cycles, No. 12. Princeton: Princeton University Press, 1963.
Goldsmith, Raymond W. Financial Intermediaries in the American Economy Since 1900,
National Bureau of Economic Research: Studies
in Capital Formation and Financing, No. 3.
Princeton: Princeton University Press, 1958.
ton University Press, 1962.
A Study of Saving in the United States.
3 Vols. Princeton: Princeton University Press,
1955.
Gutman, Peter M. (ed.). Economic Growth: An
American Problem. Engiewood Cliffs, N.J.:
Prentice-Hall, Inc., 1964.
Homer, Sidney. A History of Interest Rates.
New Brunswick, NJ.: Rutgers University Press,
1963.
Kendrick, John W. Productivity Trends in the
United States. National Bureau of Economic
Research: General Series, No. 71. Princeton:
Princeton University Press, 1961.
Kuznets, Simon. Capital in the American Economy: Its Formation and Financing. National
Bureau of Economic Research: Studies in Capital
Formation and Financing, No. 9. Princeton:
Princeton University Press, 1961.
Postwar Economic Growth, Four Lectures, Cambridge, Mass.: Harvard University
Press, 1964.
Six Lectures on Economic Growth.
New York: The Free Press of Glenoe Inc., 1959.
Landsberg, Hans H.; Fischman, Leonard L.; and
Fisher, Joseph L. Resources in America's Future: Patterns of Requirements and Availabilities, 1960-2000. Published for Resources for
the Future, Inc. Baltimore: The Johns Hopkins
Press, 1963.
Lebergott, Stanley. Manpower in Economic
Growth: The American Record Since 1800.
(Economic Handbook Series.) New York: McGraw-Hill Book Co., 1964.
Maddison, Angus. Economic Growth in the
West: Comparative Experience in Europe and
North America. New York: The Twentieth Century Fund, 1964.
The National Wealth of the United States
in the Postwar Period. National Bureau of
Economic Research: Studies in Capital Formation and Financing, No. 10. Princeton: Prince-
Study Group in the Economics of Education.
The Residual Factor and Economic Growth.
Paris: Organisation for Economic Cooperation
and Development, 1964.
Burns, Arthur F. Production Trends in the United
States Since 1870. National Bureau of Economic
Research: General Series, No. 23. New York:
National Bureau of Economic Research, 1934.
Conference on Research in Income and Wealth.
Output, Employment, and Productivity in the
United States After 1800. National Bureau of
Economic Research: Studies in Income and
Wealth. Vol. XXX. New York: National Bureau
of Economic Research, 1966.
Output, Input, and Productivity Measurement. National Bureau of Economic Research: Studies in Income and Wealth, Vol. XXV.
Princeton: Princeton University Press, 1961.
Trends in the American Economy in
the Nineteenth Century. National Bureau of
Economic Research: Studies in Income and
Wealth, Vol. XXIV. Princeton: Princeton University Press, 1960.
Denison, Edward F. The Sources of Economic
Growth in the United States and the Alternatives
Before Us. Committee for Economic Development: Supplementary Paper No. 13. New
York: Committee For Economic Development,
1962.
articles and periodicals:
A b r o m o v i t z , Moses. "Economic Growth in the United States: A Review
Article," American Economic Review, Lll, No. 4,
September 1962, pp. 762-782.
"Economics of Growth," A Survey of
Contemporary Economics, Vol. II. Edited by
113
Bernard F. Haley. Published for the American
Economic Association. Homewood, III.: Richard D. Irwin, Inc., 1952, pp. 132-181.
"Essays in the Quantitative Study of Economic
Growth, presented to Simon Kuznets on the
Occasion of His Sixtieth Birthday, April 30,
1961, by His Students and Friends," Economic
Development and Cultural Change, Vol IX, No.
3, April 1961.
Fabricant, Solomon. 'The Study of Economic
Growth," The Study of Economic Growth, Na*
tional Bureau of Economic Research: Annual
public documents:
114
Knowles, James W. The Potential
Economic Growth in the United States. 86th
Cong., 2d Sess., Joint Economic Committee
Study Paper No. 20. Washington, D.C.: Government Printing Office, 1960.
U.S. Department of Commerce, Bureau of the
Census. Historical Statistics of the United
States, Colonial Times to 1957. Washington,
D.C., U.S. Government Printing Office, 1960.
Historical Statistics of the United States,
Colonial Times to 1957; Continuation to 1962
and Revisions. Washington, D.C.: U.S. Government Printing Office, 1965.
U.S. Department of Commerce, Office of Public
Affairs, U.S. Economic Growth. (Fifth in a continuing series: Do You Know Your Economic
ABC's?) Washington, D.C.: U.S. Government
Printing Office, 1966.
Report, No. 39, New York, May 1959, pp. 1-13.
Jaszi, George, *The Measurement of Aggregate Economic Growth: A Review of Key Conceptual and Statistical Issues as Suggested by
United States Experience," Review of Economics
and Statistics, Vol. Llll, No. 4, November 1961,
pp. 317-332.
Solow, Robert. 'Technical Progress, Capital
Formation and Economic Growth," American
Economic Review, Vol. Lll, No. 2, May 1962, pp.
76-86.
U.S. Congress, Joint Economic Committee.
Hearings on January 1963 Economic Report of
the President. 88th Cong., 1st Sess., 1963.
U.S. President, 1963(Johnson). Manpower Report of the President. Transmitted
to the Congress; and A Report on Manpower Requirements, Resources, Utilization, and Training . . . by the U.S. Department of Labor,
March 5, 1965. Washington, D.C.: U.S. Government Printing Office. 1965.
U.S. President, 1960-1963 (Kennedy). Economic Report of the President. Transmitted
to the Congress: together with the Annual Report of the Council of Economic Advisers, Janu^
ary 20, 1962. Washington, D.C.: U.S. Government Printing Office, 1962.
APPENDIX 1. GROWTH RATE CONVERSION AND COMPOUND INTEREST RATE TABLES
The following two tables are intended to aid in calculating
and projecting growth rates for economic time series. The
first of these, the Growth Rate Conversion Table, is designed
to facilitate the computation of growth rates by the compound
interest rate formula. Its unique feature is that it eliminates
the need for interpolation (in finding growth rates to a tenth of
a percent), a necessary hardship when attempting to find
growth rates using an ordinary compound interest rate table.
Also included is an abbreviated Compound Interest Rate Table
to enable users to extrapolate an economic series based on
an assumed growth rate.
Table Al. Growth Rate Conversion Table
The Growth Rate Conversion Table shows the average
annual growth rates, for given time spans (n) and given
ratios of the terminal year's data to the initial year's data
(X
computed with the compound interest rate formula:
100
where r is the average annual growth rate (percent)
X^ is the initial year's data
Xj. is the terminal year's data
n
is the difference in years between
the terminal and initial years.
To use the table: (1) Compute the ratio X ^ / X i truncated
to five decimal places, (2) locate the horizontal line corresponding to the number of years span, and (3) find the
interval in which the ratio falls on the horizontal line. ^
The growth rate, correct to one decimal place, is given above
this interval.
Ratios are shown in the table for n s 1 to 70 years and for
growth rates of 0.0 percent to 9.9 percent.
For example, supposeGNP was $25.0 billion in 1874 and $487.7
billion in 1960. The ratio is 19.50800 and the square root of
this ratio is approximately 4.41678.^ Thus, find on the horizontal line corresponding to 43 years (one-half the span), the
interval in which 4.41678 lies. The growth rate of 3.5 percent is given at the top of this interval.
Although only ratios greater than 1.0 are printed on the
table, it may also be used for computing negative growth rates.
Rates of decline (i.e., when (he ratio is less than 1.0) are
computed in the following manner: (1) Compute the reciprocal
of the ratio (i.e., X i / X j , (2)~find thegrowthrate on the table
corresponding to the reciprocal, and (3) use the following
formula to find the negative growth rate:
100
' • \ (R +—100)
/
where r is the desired negative growth rate
and R is the rate found in the table.
Table A2. Compound Interest Rate Table
Following the Growth Rate Conversion Table is an abbreviated Compound Interest Rate Table.^ This table will aid
in extrapolating a series based on a particular growth rate
such as one found for a historical period in the Growth Rate
Conversion Table. Given a growth rate, find on the horizontal
line corresponding to the number of years to be projected, the
ratio corresponding to the assumed growth rate. This ratio
indicates the amount the series will increase over the period if
the assumed growth rate persists.
This table is based on the relationship—
= Xj^ ( 1 + .Olp)*^
where X^^ is the value for the initial year
r is the growth rate (percent)
n is the number of years span and
Example: GNP was $323.7 billion in 1948 and $487.7
billion in 1960. The ratio of 487.7 to 323.7 is 1.50664 and the
number of years span is 1960 minus 1948 = 12. The average
annual growth rate is then found by locating the interval
within which 1.50664 falls on the 12-year horizontal line; i.e.,
3.5 percent.
To find growth rates for periods longer than 70 years but
less than 140, the procedure is as follows: (1) Compute the
ratio X^ to X^, (2) find the square root of this ratio, and (3) on
the horizontal line corresponding to one-half the original span,
locate the interval in which the square root of the ratio falls.
The correct growth rate is given at the top of this interval.
^/n rare
instances, approximately
one per
10,000
ratios
computed, a truncated
ratio will
equal a printed ratio*
In
this case, since the correct growth rate may be either to the
left or right
at the top of the column, users should calculate the growth rate using the above formula.
230-193 0 - 8 6 - 8
X^n is the desired forcast value,
Example: GNP was $323.7 billion in 1948 and $487.7
billion in 1960. Using the Growth Rate Conversion Table
gives a growth rate of 3.5 percent per year. To forecast a
value of GNP in 1980 (a period of 20 years from 1960) based
on the growth rate of 3.5 percent find, on the 20 year horizontal
line on the Compound Interest Rate Table, the ratio
corresponding to 3.5 percent. This ratio (1.98979) multiplied
by the GNP value of $487.7 billion for 1960 gives $970 billion,
the desired forecast value.
^Both tables
may aid in approximating square roots since
in any given column, the square root of the ratio opposite n
is the ratio opposite
n/2.
^A more complete compound interest
rate table can be obtained from the Union Carbide Corporation,
Public
Relations
Department, 270 Park Avenue, New York, New York
IOOI7.
115
TABLE A1. GROWTH RATE CONVERSION TABLE-CONTINUED
(This table is a modification of the standard compound interest rate table. The columns of ratios are the "breaking points" in calculating growth rates rounded to tenths. For a given span of
years, computed ratios(Xj/X,)falling within the interval between two columns correspond to the growth rate shown above the interval. See the text at the beginning of this appendix for more details
on how to use this table.)
GROWTH RATE (PERCENT) -
Year
0.0
0.2
0.1
0.4
0.3
0.5
Year
0.7
0.6
0.9
0.8
1
2
3
4
5
1.00049
1.00100
1.00150
1.00200
1.00250
1.00149
1.00300
1.00450
1.00601
1.00752
1.00249
1.00500
1.00751
1.01003
1.01256
1.00349
1.00701
1.01053
1.01407
1.01762
1.00449
1.00902
1.01356
1.01812
1.02270
1.00549
1.01103
1.01659
1.02218
1.02780
1.00649
1.01304
1.01962
1.02625
1.03292
1.00749
1.01505
1.02266
1.03033
1.03806
1.00849
1.01707
1.02571
1.03443
1.04322
1.00949
1.01909
1.02877
1.03854
1.04841
1
2
3
4
5
6
7
8
9
10
1.00300
1.00350
1.00400
1.00450
1.00501
1.00903
1.01054
1.01206
1.01358
1.01510
1.01509
1.01763
1.02017
1.02272
1.02528
1.02118
1.02475
1.02834
1.03194
1.03555
1.02730
1.03192
1.03657
1.04123
1.04592
1.03345
1.03914
1.04485
1.05060
1.05638
1.03963
1.04639
1.05319
1.06004
1.06693
1.04585
1.05369
1.06159
1.069^6
1.07758
1.05209
1.06103
1.07005
1.07915
1.08832
1.05837
1.06842
1.07857
1.08882
1.09916
6
7
8
9
10
11
12
13
14
15
1.00551
1.00601
1.00651
1.00702
1.00752
1.01662
1.01814
1.01967
1.02120
1.02273
1.02784
1.03041
1.03299
1.03557
1.03816
1.03918
1.04281
1.04646
1.05013
1.05380
1.05062
1.05535
1.06010
1.06487
1.06966
1.06219
1.06803
1.07390
1.07981
1.08575
1.07386
1.08084
1.08787
1.09494
1.10206
1.08566
1.09380
1.10201
1.11027
1.11860
1.09757
1.10690
1.11631
1.12580
1.13537
1.10960
1.12014
1.13079
1.14153
1.15237
11
12
13
14
15
16
17
18
19
20
1.00802
1.00853
1.00903
1.00954
1.01004
1.02427
1.02580
1.02734
1.02888
1.03043
1.04075
1.04336
1.04596
1.04858
1.05120
1.05749
1.06119
1.06490
1.06863
1.07237
1.07448
1.07931
1.08417
1.08905
1.09395
1.09172
1.09772
1.10376
1.10983
1.11594
1.10922
1.11643
1.12369
1.13099
1.13834
1.12699
1.13544
1.14396
1.15253
1.16118
1.14502
1.15475
1.16457
1.17447
1.18445
1.16332
1.17437
1.18553
1.19679
1.20816
16
17
18
19
20
21
22
23
24
25
1.01055
1.01105
1.01156
1.01206
1.01257
1.03197
1.03352
1.03507
1.03662
1.03818
1.05383
1.05646
1.05910
1.06175
1.06441
1.07613
1.07989
1.08367
1.08746
1.09127
1.09887
1.10382
1.10878
1.11377
1.11878
1.12207
1.12825
1.13445
1.14069
1.14696
1.14574
1.15319
1.16069
1.16823
1.17582
1.16989
1.17866
1.18750
1.19641
1.20538
1.19452
1.20467
1.21491
1.22524
1.23565
1.21964
1.23122
1.24292
1.25473
1.26665
21
22
23
24
25
26
27
28
29
30
1.01308
1.01358
1.01409
1.01460
1.01510
1.03973
1.04129
1.04286
1.04442
1.04599
1.06707
1.06973
1.07241
1.07509
1.07778
1.09509
1.09892
1.10277
1.10663
1.11050
1.12382
1.12888
1.13396
1.13906
1.14418
1.15327
1.15962
1.16599
1.17241
1.17885
1.18347
1.19116
1.19890
1.20670
1.21454
1.21442
1.22353
1.23271
1.24195
1.25127
1.24615
1.25675
1.26743
1.27820
1.28907
1.27868
1.29083
1.30309
1.31547
1.32797
26
27
28
29
30
31
32
33
34
35
1.01561
1.01612
1.01663
1.01714
1.01764
1.04756
1.04913
1.05070
1.05228
1.05386
1.08047
1.08317
1.08588
1.08860
1.09132
1.11439
1.11829
1.12220
1.12613
1.13007
1.14933
1.15451
1.15970
1.16492
1.17016
1.18534
1.19186
1.19841
1.20500
1.21163
1.22243
1.23038
1.23838
1.24643
1.25453
1.26065
1.27011
1.27963
1.28923
1.29890
1.30002
1.31107
1.32222
1.33346
1.34479
1.34058
1.35332
1.36618
1.37916
1.39226
31
32
33
34
35
36
37
38
39
40
1.01815
1.01866
1.01917
1.01968
1.02019
1.05544
1.05702
1.05860
1.06019
1.06178
1.09405
1.09678
1.09952
1.10227
1.10503
1.13403
1.13800
1.14198
1.14598
1.14999
1.17543
1.18072
1.18603
1.19137
1.19673
1.21830
1.22500
1.23173
1.23851
1.24532
1.26268
1.27089
1.27915
1.28747
1.29583
1.30864
1.31845
1.32834
1.33831
1.34834
1.35622
1.36775
1.37938
1.39110
1.40292
1.40548
1.41884
1.43232
1.44592
1.45966
36
37
38
39
40
41
42
43
44
45
1.02070
1.02121
1.02172
1.02223
1.02274
1.06338
1.06497
1.06657
1.06817
1.06977
1.10779
1.11056
1.11334
1.11612
1.11891
1.15401
1.15805
1.16210
1.16617
1.17025
1.20211
1.20752
1.21296
1.21841
1.22390
1.25217
1.25906
1.26598
1.27294
1.27995
1.30426
1.31273
1.32127
1.32986
1.33850
1.35846
1.36864
1.37891
1.38925
1.39967
1.41485
1.42688
1.43900
1.45124
1.46357
1.47353
1.48752
1.50166
1.51592
1.53032
41
42
43
44
45
46
47
48
49
50
1.02325
1.02377
1.02428
1.02479
1.02530
1.07137
1.07298
1.07459
1.07620
1.07782
1.12171
1.12451
1.12732
1.13014
1.13297
1.17435
1.17846
1.18258
1.18672
1.19088
1.22941
1.23494
1.24049
1.24608
1.25168
1.28698
1.29406
1.30118
1.30834
1.31553
1.34720
1.35596
1.36477
1.37364
1.38257
1.41017
1.42074
1.43140
1.44213
1.45295
1.47601
1.48856
1.50121
1.51397
1.52684
1.54486
1.55954
1.57435
1.58931
1.60441
46
47
48
49
50
51
52
53
54
55
1.02582
1.02633
1.02684
1.02736
1.02787
1.07943
1.08105
1.08268
1.08430
1.08593
1.13580
1.13864
1.14148
1.14434
1.14720
1.19505
1.19923
1.20343
1.20764
1.21186
1.25732
1.26297
1.26866
1.27437
1.28010
1.32277
1.33004
1.33736
1.34471
1.35211
1.39156
1.40060
1.40971
1.41887
1.42809
1.46385
1.47483
1.48589
1.49703
1.50826
1.53982
1.55291
1.56611
1.57942
1.59284
1.61965
1.63504
1.65057
1.66625
1.68208
51
52
53
54
55
56
57
58
59
60
1.02838
1.02890
1.02941
1.02993
1.03044
1.08755
1.08919
1.09082
1.09246
1.09409
1.15007
1.15294
1.15582
1.15871
1.21611
1.16161
1.22036
1.22463
1.22892
1.23322
1.28586
1.29165
1.29746
1.30330
1.30916
1.35955
1.36702
1.37454
1.38210
1.38970
1.43737
1.44672
1.45612
1.46559
1.47511
1.51957
1.53097
1.54245
1.55402
1.56567
1.60638
1.62004
1.63381
1.64769
1.66170
1.69806
1.71419
1.73047
1.74691
1.76351
56
57
58
59
60
61
62
63
64
65
1.03096
1.03147
1.03199
1.03250
1.03302
1.09574
1.09738
1.09903
1.10067
1.10233
1.16452
1.16743
1.17034
1.17327
1.17620
1.23754
1.24187
1.24621
1.25058
1.25495
1.31506
1.32097
1.32692
1.33289
1.33889
1.39735
1.40503
1.41276
1.42053
1.42834
1.48470
1.49435
1.50406
1.51384
1.52368
1.57742
1.58925
1.60117
1.61318
1.62527
1.67582
1.69007
1.70443
1.71892
1.73353
1.78026
1.79718
1.81425
1.83148
1.84888
61
62
63
64
65
66
67
68
69
70
1.03354
1.03405
1.03457
1.03509
1.03561
1.10398
1.10563
1.10729
1.10895
1.11062
1.17914
1.18209
1.18505
1.18801
1.19098
1.25935
1.26375
1.26818
1.27262
1.27707
1.34491
1.35096
1.35704
1.36315
1.36929
1.43620
1.44410
1.45204
1.46003
1.46806
1.53358
1.54355
1.55359
1.56368
1.57385
1.63746
1.64975
1.66212
1.67458
1.68714
1.74827
1.76313
1.77812
1.79323
1.80847
1.86645
1.88418
1.90208
1.92015
1.93839
66
67
68
69
70
116
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) -
Ypiir
1 Cdl
1.1
1.0
1.2
1.4
1.3
1.5
I Cdl
1.6
1.7
1.8
1.9
1,01049
1.02111
1.03183
1.04266
1.05361
1.01149
1.02313
1.03489
1.04679
1.05883
1.01249
1.02515
1.03797
1.05094
1.06408
1.01349
1.02718
1.04104
1.05510
1.06934
1.01449
1.02921
1.04413
1.05927
1.07463
1.01549
1.03124
1.04722
1.06345
1.07993
1.01649
1.03327
1.05032
1.06765
1.08526
1.01749
1.03530
1.05342
1.07185
1.09061
1.01849
1.03734
1.05653
1.07607
1.09598
1.01949
1.03938
1.05964
1.08031
1.10137
6
7
8
9
10
1.06467
1.07585
1.08715
1.09856
1.11010
1.07101
1.08333
1.09578
1.10839
1.12113
1.07738
1.09085
1.10448
1.11829
1.13227
1.08378
1.09841
1.11324
1.12827
1.14350
1.09021
1.10602
1.12206
1.13833
1.15483
1.09667
1.11367
1.13093
1.14846
1.16627
1.10317
1.12137
1.13987
1.15868
1.17780
1.10970
1.12912
1.14888
1.16898
1.18944
1.11626
1.13691
1.15794
1.17936
1.20118
1.12285
1.14474
1.16707
1.18983
1.21303
6
7
8
9
10
11
12
13
14
15
1.12175
1.13353
1.14543
1.15746
1.16961
1.13403
1.14707
1.16026
1.17360
1.18710
1.14642
1.16075
1.17526
1.18995
1.20482
1.15894
1.17458
1.19044
1.20651
1.22280
1.17158
1.18856
1.20580
1.22328
1.24102
1.18434
1.20270
1.22134
1.24027
1.25950
1.19723
1.21699
1.23707
1.25748
1.27823
1.21025
1.23143
1.25298
1.27491
1.29722
1.22340
1.24604
1.26909
1.29257
1.31648
1.23668
1.26080
1.28538
1.31045
1.33600
11
12
13
14
15
16
17
18
19
20
1.18190
1.19431
1.20685
1.21952
1.23232
1.20075
1.21456
1.22853
1.24265
1.25694
1.21988
1.23513
1.25057
1.26620
1.28203
1.23930
1.25604
1.27299
1.29018
1.30759
1.25902
1.27727
1.29579
1.31458
1.33364
1.27902
1.29884
1.31898
1.33942
1.36018
1.29932
1.32076
1.34255
1.36470
1.38722
1.31992
1.34302
1.36653
1.39044
1.41477
1.34083
1.36564
1.39090
1.41663
1.44284
1.36205
1.38861
1.41569
1.44330
1.47144
16
17
18
19
20
21
22
23
24
25
1.24526
1.25834
1.27155
1.28490
1.29839
1.27140
1.28602
1.30081
1.31577
1.33090
1.29806
1.31428
1.33071
1.34735
1.36419
1.32525
1.34314
1.36127
1.37965
1.39827
1.35298
1.37260
1.39250
1.41269
1.43318
1.38126
1.40267
1.42442
1,44649
1.46891
1.41011
1.43338
1.45703
1.48107
1.50551
1.43953
1.46472
1.49036
1.51644
1.54298
1.46954
1.49672
1.52441
1.55261
1.58134
1.50013
1.52939
1.55921
1.58962
1.62061
21
22
23
24
25
26
27
28
29
30
1.31203
1.32580
1.33972
1.35379
1.36801
1.34621
1.36169
1.37735
1.39319
1.40921
1.38124
1.39851
1.41599
1.43369
1.45161
1.41715
1.43628
1.45567
1.47532
1.49524
1.45396
1.47504
1.49643
1.51813
1.54014
1.49168
1.51480
1.53828
1.56213
1.58634
1.53035
1.55560
1.58127
1.60736
1.63388
1.56998
1.59745
1.62541
1.65385
1.68279
1.61059
1.64039
1.67073
1.70164
1.73312
1.65221
1.68443
1.71728
1.75077
1.78491
26
27
28
29
30
31
32
33
34
35
1.38237
1.39688
1.41155
1.42637
1.44135
1.42541
1.44181
1.45839
1.47516
1.49212
1.46975
1.48812
1.50673
1.52556
1.54463
1.51543
1.53588
1.55662
1.57763
1.59893
1.56247
1.58513
1.60811
1.63143
1.65508
1.61093
1.63590
1.66125
1.68700
1.71315
1.66084
1.68824
1.71610
1.74441
1.77320
1.71224
1.74221
1.77270
1.80372
1.83528
1.76519
1.79784
1.83110
1.86498
1.89948
1.81971
1.85520
1.89137
1,92825
1.96586
31
32
33
34
35
36
37
38
39
40
1.45648
1.47178
1.48723
1.50285
1.51863
1.50928
1.52664
1.54419
1.56195
1.57992
1.56394
1.58349
1.60328
1.62332
1.64361
1.62052
1.64239
1.66457
1.68704
1.70981
1.67908
1.70343
1.72813
1.75319
1.77861
1.73971
1.76667
1.79406
1.82186
1.85010
1.80245
1.83220
1.86243
1.89316
1.92439
1.86740
1.90008
1.93333
1.96717
2.00159
1.93462
1.97041
2.00686
2.04399
2.08180
2.00419
2.04327
2.08312
2.12374
2.16515
36
37
38
39
40
41
42
43
44
45
1.53457
1.55069
1.56697
1.58342
1.60005
1.59808
1.61646
1.63505
1.65385
1.67287
1.66416
1.68496
1.70602
1.72735
1.74894
1.73290
1.75629
1.78000
1.80403
1.82838
1.80440
1.83056
1.85711
1.88403
1.91135
1.87878
1.90790
1.93747
1.96750
1.99800
1.95615
1.98842
2.02123
2.05458
2.08848
2.03662
2.07226
2.10853
2.14542
2.18297
2.12032
2.15954
2.19950
2.24019
2.28163
2.20737
2.25041
2.29430
2.33904
2.38465
41
42
43
44
45
46
47
48
49
50
1.61685
1.63382
1.65098
1.66832
1.68583
1.69211
1.71157
1.73125
1.75116
1.77130
1.77080
1.79294
1.81535
1.83804
1.86102
1.85307
1.87808
1.90344
1.92913
1.95518
1.93907
1.96718
1.99571
2.02465
2.05400
2.02897
2.06042
2.09235
2.12479
2.15772
2.12294
2.15797
2.19358
2.22977
2.26656
2.22117
2.26004
2.29959
2.33984
2.38078
2.32384
2.36683
2.41062
2.45521
2.50063
2.43115
2.47856
2.52689
2.57616
2.62640
46
47
48
49
50
51
52
53
54
55
1.70353
1.72142
1.73950
1.75776
1.77622
1.79167
1.81228
1.83312
1.85420
1.87552
1.88428
1.90783
1.93168
1.95583
1.98027
1.98157
2.00832
2.03544
2.06291
2.09076
2.08379
2.11400
2.14465
2.17575
2.20730
2.19116
2.22513
2.25962
2.29464
2.33021
2.30396
2.34198
2.38062
2.41990
2.45983
2.42245
2.46484
2.50797
2.55186
2.59652
2.54690
2.59401
2.64200
2.69088
2.74066
2.67761
2.72982
2.78306
2.83733
2.89265
51
52
53
54
55
56
57
58
59
60
1.79487
1.81371
1.83276
1.85200
1.87145
1.89709
1.91891
1.94097
1.96330
1.98587
2.00503
2.03009
2.05547
2.08116
2.10717
2.11899
2.14760
2,17659
2.20597
2.23575
2.23931
2.27178
2.30472
2.33814
2.37204
2.36633
2.40300
2.44025
2.47808
2.51649
2.50042
2.54167
2.58361
2.62624
2.66957
2.64196
2.68820
2.73524
2.78311
2.83181
2.79136
2.84300
2.89560
2.94917
3.00373
2.94906
3.00657
3.06520
3.12497
3.18590
56
57
58
59
60
61
62
63
64
65
1.89110
1.91095
1.93102
1.95130
1.97178
2.00871
2.03181
2.05518
2.07881
2.10272
2.13351
2.16018
2.18718
2.21452
2.24221
2.26594
2.29653
2.32753
2.35895
2.39080
2.40643
2.44133
2.47673
2.51264
2.54907
2.55549
2.59510
2.63533
2.67617
2.71765
2.71362
2.75840
2.80391
2.85017
2.89720
2.88137
2.93179
2.98310
3.03530
3.08842
3.05930
3.11589
3.17354
3.23225
3.29205
3.24803
3.31137
3.37594
3.44177
3.50888
61
62
63
64
65
66
67
68
69
70
1.99249
2.01341
2.03455
2.05591
2.07750
2.12690
2.15136
2.17610
2.20113
2.22644
2.27023
2.29861
2.32734
2.35644
2.38589
2.42307
2.45578
2.48894
2.52254
2.55659
2.58603
2.62353
2.66157
2.70017
2.73932
2.75978
2.80255
2.84599
2.89011
2.93490
2.94501
2.99360
3.04299
3.09320
3.14424
3.14247
3.19746
3.25342
3.31035
3.36828
3.35295
3.41498
3.47816
3,54250
3,60804
3.57731
3.64706
3.71818
3.79069
3.86460
66
67
68
69
70
117
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
Year
GROWTH RATE (PERCENT) 2.0
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
Year
5
1.02049
1.04142
1.06276
1.08455
1.10678
1.02149
1.04346
1.06589
1.08881
1.11222
1.02249
1.04550
1.06903
1.09308
1.11767
1.02349
1.04755
1.07216
1.09736
1.12315
1.02449
1.04960
1.07531
1.10166
1.12865
1.02549
1.05165
1.07846
1.10596
1.13417
1.02649
1.05370
1.08162
1.11028
1.13971
1.02749
1.05575
1.08478
1.11462
1.14527
1.02849
1.05781
1.08795
1.11896
1.15085
1.02949
1.05987
1.09113
1.12332
1.15646
1
2
3
4
5
6
7
8
9
10
1.12947
1.15263
1.17626
1.20037
1.22498
1.13613
1.16056
1.18551
1.21100
1.23703
1.14282
1.16853
1.19483
1.22171
1.24920
1.14954
1.17656
1.20421
1.23251
1.26147
1.15630
1.18463
1.21365
1.24339
1.27385
1.16309
1.19275
1.22316
1.25435
1.28634
1.16991
1.20091
1.23274
1.26540
1.29894
1.17676
1.20912
1.24238
1.27654
1.31165
1.18365
1.21739
1.25208
1.28777
1.32447
1.19057
1.22570
1.26185
1.29908
1.33740
6
7
8
9
10
11
12
13
14
15
1.25009
1.27572
1.30187
1.32856
1.35579
1.26363
1.29080
1.31855
1.34690
1.37586
1.27731
1.30604
1.33543
1.36548
1.39620
1.29111
1.32146
1.35251
1.38429
1.41682
1.30506
1.33703
1.36979
1.40335
1.43773
1.31914
1.35278
1.38727
1.42265
1.45893
1.33336
1.36869
1.40496
1.44219
1.48041
1.34772
1.38478
1.42286
1.46199
1.50219
1.36221
1.40104
1.44097
1.48204
1.52427
1.37686
1.41747
1.45929
1.50234
1.54666
11
12
13
14
15
16
17
18
19
20
1.38359
1.41195
1.44090
1.47043
1.50058
1.40544
1.43566
1.46652
1.49805
1.53026
1.42762
1.45974
1.49258
1.52616
1.56050
1.45012
1.48420
1.51908
1.55478
1.59131
1.47296
1.50904
1.54602
1.58389
1.62270
1.49613
1.53428
1.57340
1.61353
1.65467
1.51964
1.55991
1.60125
1.64369
1.68724
1.54350
1.58595
1.62956
1.67438
1.72042
1.56772
1.61240
1.65835
1.70561
1.75422
1.59228
1.63926
1.68761
1.73740
1.78865
16
17
18
19
20
21
22
23
24
25
1.53134
1.56273
1.59477
1.62746
1.66082
1.56316
1.59677
1.63110
1.66617
1.70199
1.59562
1.63152
1.66823
1.70576
1.74414
1.62871
1.66698
1.70616
1.74625
1.78729
1.66245
1.70319
1.74491
1.78766
1.83146
1.69687
1.74014
1.78451
1.83001
1.87668
1.73196
1.77785
1.82497
1.87333
1.92297
1.76773
1.81635
1.86630
1.91762
1.97036
1.80422
1.85564
1.90852
1.96292
2.01886
1.84142
1.89574
1.95166
2.00924
2.06851
21
22
23
24
25
26
27
28
29
30
1.69487
1.72962
1.76507
1.73859
1.77597
1.81415
1.85315
1.89300
1.78338
1.82351
1.86454
1.90649
1.94939
1.82929
1.87228
1.91628
1.96131
2.00740
1.87633
1.92230
1.96940
2.01765
2.06708
1.92454
1.97361
2.02394
2.07555
2.12848
1.97393
2.02624
2.07993
2.13505
2.19163
2.02454
2.13742
2.19620
2.25660
2.07640
2.13557
2.19644
2.25904
2.32342
2.12953
2.19235
2.25703
2.32361
2.39216
26
27
28
29
30
31
32
33
34
35
1.87587
1.91432
1.95357
1.99361
2.03448
1.93370
1.97527
2.01774
2.05458
2.10543
1.99325
2.03810
2.08395
2.13084
2.17879
2.15227
2.20285
2.25462
2.11773
2.16961
2.22277
2.27722
2.33302
2.18275
2.23841
2.29549
2.35403
2.41405
2.24971
2.30933
2.37052
2.43334
2.49783
2.31865
2.38242
2.44793
2.51525
2.58442
2.38964
2.45774
2.52779
2.59983
2.67393
2.46272
2.53537
2.61017
2.68717
2.76644
31
32
33
34
35
36
37
38
39
40
2.07619
2.11875
2.16219
2.20651
2.25174
2.15070
2.19694
2.24418
2.29243
2.34171
2.22781
2.27794
2.32919
2.38160
2.43518
2.30760
2.36183
2.41734
2.47414
2.53229
2.39017
2.44873
2.50873
2.57019
2.63316
2.47561
2.53874
2.60348
2.66987
2.73795
2.56402
2.63197
2.70171
2.77331
2.84680
2.65549
2.72852
2.80355
2.88065
2.95987
2.75013
2.82851
2.90912
2.99203
3.07731
2.84805
2.93207
3.01856
3.10761
3.19929
36
37
38
39
40
41
42
43
44
45
2.29791
2.34501
2.39309
2.44214
2.49221
2.39206
2.44349
2.49602
2.54969
2.60451
2.48997
2.54600
2.60328
2.72175
2.59179
2.65270
2.71504
2.77884
2.84415
2,69767
2.76377
2.83148
2.90085
2.97192
2.80777
2.87937
2.95279
3.02809
3.10530
2.92224
2.99968
3.07917
3.16077
3.24453
3.04126
3.12490
3.21083
3.29913
3.38986
3.16501
3.25521
3-34799
3.44341
3.54154
3.29367
3.39083
3.49086
3.59584
3.69986
41
42
43
44
45
46
47
48
49
50
2.54330
2.59544
2.64864
2.70294
2.75835
2.66050
2.71771
2.77614
2.83582
2.89679
2.78299
2.84561
2.90963
2.97510
3.04204
2.91098
2.97939
3.04941
3.12107
3.19442
3.04473
3.11933
3.19575
3.27405
3.35427
3.18449
3.26569
3.34897
3.43437
3.52194
3.33051
3.41877
3.50937
3.60237
3.69783
3.48308
3.57886
3.67728
3.77841
3.88231
3.64248
3.74629
3.85306
3.96287
U.07581
3.80900
3.92137
4.03705
4.15614
4.27875
46
47
48
49
50
51
52
53
54
55
2.81490
2.87260
2.93149
2.99159
3.05291
2.95907
3.02269
3.08768
3.15407
3.22188
3.11049
3.18047
3.25203
3.32520
3.40002
3.26948
3.34632
3.42496
3.50544
3.58782
3.43644
3.52064
3.60689
3.69526
3.78580
3.61175
3.70385
3.79830
3.89516
3.99448
3.79582
3.89641
3.99967
4.10566
4.21446
3.98908
4.09878
4.21149
4.32731
4.44631
4.19197
4.31144
4.43432
4.56070
4.69068
4.40497
4.53492
4.66870
4.80642
4.94821
51
52
53
54
55
56
57
58
59
60
3.11550
3.17937
3.24454
3.31106
3.37893
3.29115
3.36191
3.43419
3.50803
3.58345
3.47652
3.55474
3.63472
3.71651
3.80013
3.67213
3.75843
3.84675
3.93715
4.02967
3.87855
3.97357
4.07093
4.17066
4.27284
4.09634
4.20080
4.30792
4.41777
4.53042
4.32614
4.44078
4.55846
4.67926
4.80326
4.56858
4.69422
4.82331
4.95595
5.09224
4.82436
4.96186
5.10327
5.24871
5.39830
5.09419
5.24447
5.39918
5.55845
5.72243
56
57
58
59
60
61
62
63
64
65
3.44820
3.51889
3.59103
3.66464
3.73977
3.66049
3.73919
3.81959
3.90171
3.98560
3.88563
3.97306
4.06245
4.15386
4.24732
4.12437
4.22129
4.32049
4.42203
4.52595
4.37753
4.48478
4.59466
4.70723
4.82255
4.64595
4.76442
4.88591
5.01051
5.13827
4.93055
5.06121
5.19533
5.33301
5.47433
5.23228
5.37617
5.52401
5.67592
5.83201
5.55215
5.71039
5.87313
6.04052
6.21267
5.89124
6.06503
6.24395
6.42815
6.61778
61
62
63
64
65
66
67
68
69
70
3.81643
3.89467
3.97451
4.05599
4.13914
4.07129
4.15882
4.24823
4.33957
4.43287
4.34288
4.44060
4.54051
4.64267
4.74713
4.63231
4.74116
4.85258
4.96662
5.08333
4.94070
5.06175
5.18576
5.31282
5.44298
5.26930
5.40367
5.54146
5.68277
5.82768
5.61940
5.76832
5.92118
6.07809
6.23916
5.99239
6.15718
6.32650
6.50048
6.67924
6.38973
6.57184
6.75914
6.95177
7.14990
6.81300
7.01399
7.22090
7.43392
7.65322
66
67
68
69
70
1
2
3
1.80126
1.83818
118
2.06112
2.66186
2.10286
2.08021
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) -
Year
3.0
3.2
3.1
3.4
3.3
3.5
Year
3.6
3.7
3.8
3.9
1.030^49
1.06193
1.09431
1.12769
1.16209
1.03149
1.06399
1.09750
1.13207
1.16773
1.03249
1.06605
1.10070
1.13647
1.17341
1.03349
1.06812
1.10390
1.14088
1.17910
1.03449
1.07019
1.10711
1.14530
1.18482
1.03549
1.07226
1.11032
1.14974
1.19055
1.03649
1.07433
1.11354
1.15418
1.19631
1.03749
1.07640
1.11677
1.15865
1.20209
1^03849
1.07848
1.12000
1.16312
1.20790
1.03949
1.08056
1.12324
1.16761
1.21373
6
7
8
9
10
1.19753
1.23405
1.27169
1.31048
1.35045
1.20452
1.24246
1.28160
1.32197
1.36361
1.21154
1.25092
1.29157
1.33355
1.37689
1.21860
1.25942
1.30161
1.34522
1.39028
1.22569
1.26798
1.31172
1.35698
1.40379
1.23282
1.27658
1.32190
1.36883
1.41742
1.23998
1.28524
1.33215
1.38077
1.43117
1.24717
1.29394
1.34247
1.39281
1.44504
1.25440
1.30270
1.35285
1,40494
1.45903
1.26167
1.31150
1.36331
1.41716
1.47314
6
7
8
9
10
11
12
13
14
15
1.39164
1.43408
1.47782
1.52290
1.56935
1.40657
1.45087
1.49658
1.54372
1.59234
1.42164
1.46784
1.51555
1.56480
1.61566
1.43686
1.48499
1.53474
1.58615
1.63929
1.45222
1.50233
1.55416
1.60778
1.66324
1.46774
1.51985
1.57380
1.62967
1.68752
1.48341
1.53755
1.59367
1.65184
1.71214
1.49923
1.55545
1.61378
1.67430
1.73708
1.51520
1.57354
1.63412
1.69703
1.76237
1.53133
1.59181
1.65469
1.72005
1.78799
11
12
13
14
15
16
17
18
19
20
1.61721
1.66654
1.71736
1.76974
1.82372
1.64250
1.69424
1.74761
1.80266
1.85945
1.66817
1.72238
1.77836
1.83616
1.89583
1.69421
1.75096
1.80962
1.87024
1.93290
1.72063
1.77999
1.84140
1.90493
1.97065
1.74743
1.80947
1.87370
1.94022
2.00910
1.77463
1.83940
1.90654
1.97613
2.04826
1.80222
1.86981
1.93992
2.01267
2.08815
1.83022
1.90068
1.97386
2.04985
2.12877
1.85862
1.93204
2.00835
2.08768
2 . 17014
16
17
18
19
20
21
22
23
24
25
1.87935
1.93667
1.99573
2.05660
2.11933
1.91802
1.97844
2.04076
2.10504
2.17135
1.95745
2.02106
2.08675
2.15457
2.22459
1.99765
2.06457
2.13373
2.20521
2.27909
2.03863
2.10897
2.18173
2.25700
2.33486
2.08042
2.15427
2.23075
2.30994
2.39195
2.12302
2.20051
2.28083
2.36408
2.45037
2.16645
2.24769
2.33198
2.41943
2.51016
2.21073
2.29584
2.38423
2.47603
2.57135
2.25587
2.34497
2.43760
2.53388
2.63397
21
22
23
24
25
26
27
28
29
30
2.18397
2.25058
2.31922
2.38996
2.46285
2.23975
2.31030
2.38307
2.45814
2.53557
2.29689
2.37154
2.44862
2.52820
2.61036
2.35544
2.43434
2.51589
2.60018
2.68728
2.41542
2.49875
2.58495
2.67414
2.76639
2.47686
2.56479
2.65584
2.75012
2.84775
2.53981
2.63251
2.72860
2.82819
2.93142
2.60429
2.70195
2.80328
2.90840
3.01747
2.67035
2.77316
2.87992
2.99080
3.10595
2.73801
2.84617
2.95859
3.07545
3.19694
26
27
28
29
30
31
32
33
34
35
2.53797
2.61538
2.69515
2.77735
2.86206
2.61544
2.69783
2.78281
2.87047
2.96089
2.69520
2.78279
2.87323
2.96661
3.06303
2.77731
2.87035
2.96650
3.06588
3.16859
2.86183
2.96057
3.06271
3.16837
3.27768
2.94885
3.05353
3.16193
3.27418
3.39041
3.03842
3.14932
3.26427
3.38342
3.50691
3.13062
3.24802
3.36982
3.49619
3.62729
3.22553
3.34971
3.47867
3.61260
3.75169
3.32321
3.45448
3.59093
3.73278
3.88022
31
32
33
34
35
36
37
38
39
40
2.94935
3.03931
3.13201
3.22753
3.32597
3.05416
3.15036
3.24960
3.35196
3.45755
3.16258
3.26536
3.37149
3.48106
3.59419
3.27474
3.38444
3.49782
3.61500
3.73610
3.39076
3.50774
3.62876
3.75395
3.88346
3.51077
3.63541
3.76446
3.89810
4.03648
3.63491
3.76759
3.90511
4.04764
4.19538
3.76332
3.90444
4.05086
4.20277
4.36037
3.89613
4.04613
4.20191
4.36368
4.53168
4.03349
4.19281
4.35843
4.53059
4.70954
36
37
38
39
40
41
42
43
44
45
3.42742
3.53195
3.63968
3.75069
3.86508
3.56646
3.67881
3.79469
3.91422
4.03752
3.71100
3.83161
3.95614
4.08471
4.21747
3.86126
3.99061
4.12429
4.26246
4.40525
4.01744
4.15604
4.29943
4.44776
4.60120
4.17978
4.32816
4.48181
4.64092
4.80567
4.34851
4.50723
4.67175
4.84227
5.01901
4.52389
4.69353
4.86954
5.05215
5.24160
4.70615
4.88734
5.07550
5.27091
5.47384
4.89557
5.08895
5.28996
5.49891
5.71612
41
42
43
44
45
46
47
48
49
50
3.98297
4.10445
4.22964
4.35864
4.49158
4.16470
4.29589
4.43121
4.57079
4.71477
4.35454
4.49606
4.64218
4.79305
4.94882
4.55283
4.70535
4.86298
5.02589
5.19425
4.75995
4.92416
5.09405
5.26979
5.45160
4.97627
5.15293
5.33586
5.52528
5.72143
5.20220
5.39208
5.58890
5.79289
6.00433
5.43816
5.64209
5.85367
6.07318
6.30093
5.68458
5.90344
6.13072
6.36675
6.61187
5.94191
6.17661
6.42059
6.67420
6.93783
46
47
48
49
50
51
52
53
54
55
4.62857
4.76974
4.91522
5.06514
5.21962
4.86329
5.01648
5.17450
5.33750
5.50563
5.10966
5.27573
5.44719
5.62422
5.80701
5.36826
5.54810
5.73396
5.92605
6.12457
5.63968
5.83425
6.03553
6.24376
6.45917
5.92454
6.13486
6.35265
6.57817
6.81169
6.22349
6.45065
6.68610
6.93014
7.18309
6.53721
6.78236
7.03670
7.30057
7.57435
6.86643
7.13079
7.40532
7.69043
7.98651
7.21188
7.49675
7.79287
8.10069
8.42066
51
52
53
54
55
56
57
58
59
60
5.37882
5.54287
5.71193
5.88615
6.06567
5.67906
5.85795
6.04247
6.23281
6.42915
5.99574
6.19060
6.39179
6.59952
6.81401
6.32974
6.54179
6.76094
6.98743
7.22151
6.68201
6.91254
7.15102
7.39773
7.65295
7.05351
7.30390
7.56319
7.83169
8.10971
7.44527
7.71702
7.99869
8.29065
8.59326
7.85838
8.15307
8.45881
8.77602
9.10512
8.29399
8.61331
8.94492
9.28930
9.64694
8.75328
9.09903
9.45845
9.83205
10.22042
56
57
58
59
60
61
62
63
64
65
6.25068
6.44132
6.63778
6.84024
7.04886
6.63166
6.84056
7.05604
7.27831
7.50757
7.03546
7.26412
7.50020
7.74396
7.99564
7.46343
7.71345
7.97185
8.23891
8.51492
7.91698
8.19012
8.47267
8.76498
9.06737
8.39761
8.69572
9.00442
9.32408
9.65508
8.90691
9.23201
9.56898
9.91825
10.28026
9.44656
9.80081
10.16834
10.54965
10.94526
10.01835
10.40405
10.80461
11.22059
11.65258
10.62413
11.04378
11.48001
11.93347
12.40484
61
62
63
64
65
66
67
68
69
70
7.26385
7.48540
7.71371
7.94897
8.19142
7.74406
7.98800
8.23962
8.49917
8.76690
8.25550
8.52380
8.80082
9.08685
9.38217
8.80017
9.09497
9.39965
9.71454
10.03998
9.38020
9.70381
10.03860
10.38493
10.74321
9.99784
10.35276
10.72029
11.10086
11.49494
10.65549
11.04442
11.44754
11.86538
12.29846
11.35571
11.78155
12.22336
12.68174
13.15730
12.10121
12.56710
13.05094
13.55340
14.07520
12.89484
13.40418
13.93365
14.48403
15.05614
66
67
68
69
70
119
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) -
Year
4.0
4.1
4.2
4.4
4.3
4.5
4.6
Year
4.7
4.8
4.9
1
2
3
4
5
1.04049
1.08264
1.12648
1.17210
1.21958
1.04149
1.08472
1.12973
1.17662
1.22545
1.04249
1.08680
1.13299
1.18114
1.23134
1.04349
1.08889
1.13625
1.18568
1.23726
1.04449
1.09098
1.13952
1.19023
1.24320
1.04549
1.09307
1.14280
1.19480
1.24916
1.04649
1.09516
1.14608
1.19938
1.25515
1.04749
1.09725
1.14937
1.20397
1.26115
1.04849
1.09935
1.15267
1.20857
1.26719
1.04949
1.10145
1.15597
1.21319
1.27324
1
2
3
4
5
6
7
8
9
10
1.26897
1.32036
1.37384
1.42948
1.48737
1.27630
1.32927
1.38444
1.44189
1.50173
1.28367
1.33823
1.39511
1.45440
1.51621
1.29108
1.34724
1.40585
1.46700
1.53082
1.29852
1.35631
1.41666
1.47970
1.54555
1.30600
1.36542
1.42755
1.49250
1.56041
1.31351
1.37459
1.43851
1.50540
1.57540
1.32106
1.38381
1.44954
1.51840
1.59052
1.32864
1.39308
1.46065
1.53149
1.60577
1.33627
1.40241
1.47183
1.54469
1.62115
6
7
8
9
10
11
12
13
14
15
1.54761
1.61029
1.67550
1.74336
1.81397
1.56405
1.62896
1.69656
1.76697
1.84030
1.58065
1.64783
1.71786
1.79087
1.86698
1.59741
1.66689
1.73940
1.81507
1.89402
1.61433
1.63141
1.70564
1.78325
1.86438
1.94921
1.64866
1.72532
1.80555
1.88950
1.97737
1.66607
1.74521
1.76120
1.83957
1.92143
1.82810
1.91494
2.00590
1.68365
1.76531
1.85092
1.94069
2.03482
1.70140
1.78562
1.87400
1.96677
2.06412
11
12
13
14
15
16
17
18
19
20
1.88744
1.96388
2.04341
2.12617
2.21228
1.91667
1.99621
2.07905
2.16533
2.25520
1.94633
2.02905
2.11528
2.20518
2.29890
1.97641
2.06239
2.15210
2.24572
2.34341
2.00694
2.09625
2.18953
2.28696
2.38873
2.03790
2.13063
2.22757
2.32893
2.43489
2.06931
2.16554
2.26624
2.37162
2.48190
2.20099
2.30553
2.41505
2.52976
2.13351
2.23698
2.34547
2.45923
2.57850
2.16630
2.27353
2.38607
2.50418
2.62814
16
17
18
19
20
21
22
23
24
25
2.30188
2.39511
2.49211
2.59304
2.69806
2.34879
2.44626
2.54778
2.65352
2.76364
2.39660
2.49846
2.60464
2.71534
2.83074
2.44535
2.55172
2.66272
2.77855
2.89942
2.49503
2.60606
2.72203
2.84316
2.96968
2.54568
2.66151
2.78261
2.90922
3.04159
2.59730
2.71808
2.84447
2.97674
3.11516
2.64993
2.77580
2.90765
3.04576
3.19043
2.70356
2.83468
2.97217
3.11632
3.26746
2.75823
2.89476
3.03805
3.18844
3.34626
21
22
23
24
25
26
27
28
29
30
2.80733
2.92103
3.03933
3.16242
3.29050
2.87833
2.99778
3.12219
3.25176
3.38671
2.95105
3.07647
3.20722
3.34353
3.48563
3.02554
3.15715
3.29449
3.43780
3.58734
3.10184
3.23987
3.38404
3.53463
3.69192
3.17998
3.32467
3.47594
3.63410
3.79945
3.26001
3.41160
3.57024
3.73626
3.90999
3.34198
3.50073
3.66701
3.84119
4.02365
3.42593
3.59209
3.76630
3.94897
4.14049
3.51190
3.68574
3.86819
4.05966
4.26062
26
27
28
29
30
31
32
33
34
35
3.42376
3.56243
3.70670
3.85683
4.01303
3.52725
3.67363
3.82609
3.98487
4.15025
3.63377
3.78820
3.94920
4.11704
4.29202
3.74339
3.90623
4.07615
4.25346
4.43849
3.85621
4.02782
4.20705
4.39427
4.58981
3.97232
4.15306
4.34203
4.53959
4.74614
4.09181
4.28208
4.48120
4.68957
4.90764
4.21477
4.41497
4.62469
4.84436
5.07447
4.34131
4.55186
4.77263
5.00410
5.24680
4.47152
4.69286
4.92516
5.16895
5.42481
31
32
33
34
35
36
37
38
39
40
4.17556
4.34467
4.52062
4.70371
4.89421
4.32248
4.50186
4.68869
4.88327
5.08593
4.47443
4.66459
4,86284
5.06951
5.28496
4.63156
4.83304
5.04327
5.26266
5.49158
4.79406
5.00739
5.23022
5.46297
5.70607
4.96209
5.18787
5.42392
5.67070
5.92872
5.13584
5.37466
5.62458
5.88612
6.15983
5.31550
5.56799
5.83247
6.10951
6.39971
5.50127
5.76808
6.04783
6.34115
6.64870
5.69334
5.97516
6.27093
6.58135
6.90712
36
37
38
39
40
41
42
43
44
45
5.09243
5.29867
5.51327
5.73655
5.96888
5.29699
5.51682
5.74577
5.98422
6.23256
5.50957
5.74373
5.98784
6.24232
6.50762
5.73047
5.97974
6.23986
6.51129
6.79454
5.95999
6.22521
6.50223
6.79158
7.09381
6.19848
6.48051
6.77537
7.08365
7.40596
6.44626
6.74601
7.05970
7.38798
7.73152
6.70370
7.02213
7.35568
7.70507
8.07106
6.97116
7.30926
7.66376
8.03546
8.42517
7.24902
7.60785
7.98444
8.37967
8.79446
41
42
43
44
45
46
47
48
49
50
6.21062
6.46215
6.72387
6.99619
7.27953
6.49121
6.76060
7.04117
7.33337
7.63771
6.78419
7.07252
7.37311
7.68646
8.01314
7.09010
7.39852
7.72035
8.05619
8.40663
7.40948
7.73921
8.08360
8.44332
8.81905
7.74293
8.09523
8.46357
8.84866
9.25127
8.09103
8.46727
8.86100
9.27303
9.70423
8.45444
8.85603
9.27669
9.71733
10.17890
8.83380
9.26223
9.71145
10.18246
10.67631
9.22979
9.68666
10.16615
10.66938
11.19751
46
47
48
49
50
51
52
53
54
55
7.57435
7.88112
8.20030
8.53241
8.87798
7.95467
8.28479
8.62861
8.98670
9.35965
8.35370
8,70873
9.07885
9.46470
9,86695
8,77232
9,15392
9,55211
9,96763
10.40122
9.21150
9.62141
10.04956
10.49677
10.96387
9.67220
10.11229
10.57240
11.05344
11.55638
10.15547
10.62770
11.12189
11.63906
12.18028
10.66240
11.69939
12.25511
12.83722
11.19411
11.73702
12.30627
12.90312
13.52892
11.75179
12.33350
12.94401
13.58474
14.25719
51
52
53
54
55
56
57
58
59
60
9.23753
9.61165
10.00093
10.40596
10.82740
9.74807
10.15262
10.57395
11.01277
11.46980
10.28629
10.72346
11.17921
11.65433
12.14963
10.85367
11.32581
11.81848
12.33259
12.86905
11.45177
11.96137
12.49365
13.04962
13.63033
12.08219
12.63193
13.20668
13.80759
14.43583
12.74666
13.33938
13.95966
14.60878
15.28809
13.44699
14.08572
14.75480
15.45565
16.18979
14.18508
14.87305
15.59440
16.35072
17.14373
14.96292
15.70358
16.48091
17.29671
18.15290
56
57
58
59
60
61
62
63
64
65
11.26591
11.72218
12.19693
12.69091
13.20489
11.94580
12.44155
12.95787
13.49562
14.05569
12.66599
13.20430
13.76548
14.35051
14.96042
13.42886
14.01301
14.62258
15.25866
15.92241
14.23688
14.87042
15.53215
16.22333
16.94526
15.09266
15.77938
16.49734
17.24797
18.03275
15.99899
16.74294
17.52149
18.33624
19.18887
16.95881
17.76435
19.49204
20.41791
17.97521
18.84700
19.76108
20.71950
21.72439
19,05147
19,99452
20.98425
22.02297
23.11310
61
62
63
64
65
66
67
68
69
70
13,73969
14.29615
14.87514
15.47758
16.10443
14.63900
15.24652
15.87925
16.53824
17.22457
15.59623
16.25907
16.95008
17.67046
18.42146
16,61504
17.33779
18.09199
18.87899
19.70022
17.69933
18.48695
19.30962
20.16889
21.06641
18.85325
19.71107
20.60792
21.54558
22.52591
20.08115
21.01492
21.99212
23.01475
24.08493
21.38776
22.40368
23.46786
24.58258
25.75025
22.77803
23.88276
25.04108
26.25557
27.52896
24.25720
25.45793
26.71809
28.04064
29.42865
66
67
68
69
70
120
1.68616
2.10118
11.16886
18.60816
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) -
Year
5.0
5.2
5.1
5.4
5.3
5.5
Year
5.6
5.7
5.8
5.9
5
1.05049
1.10355
1.15927
1.21782
1.27932
1.05149
1.10565
1.16259
1.22246
1.28542
1.05249
1.10775
1.16591
1.22712
1.29154
1.05349
1.10986
1.16923
1.23179
1.29769
1.05449
1.11197
1.17257
1.23647
1.30386
1.05549
1.11408
1.17591
1.24117
1.31005
1.05649
1.11619
1.17925
1.24588
1.31627
1.05749
1.11830
1.18260
1.25060
1.32251
1.05849
1.12042
1.18596
1.25534
1.32878
1.05949
1.12254
1.18933
1.26009
1.33507
1
2
3
4
5
6
7
8
9
10
1.34392
1.41179
1.48309
1.55798
1.63666
1.35162
1.42123
1.49442
1.57138
1.65231
1.35935
1.43072
1.50583
1.58488
1.66809
1.36712
1.44026
1.51731
1.59849
1.68401
1.37492
1.44985
1.52887
1.61220
1.70006
1.38276
1.45951
1.54051
1.62601
1.71625
1.39064
1.46921
1.55222
1.63993
1.73258
1.39856
1.47898
1.56402
1.65395
1.74905
1.40651
1.48879
1.57589
1.66808
1.76566
1.41450
1.49867
1.58784
1.68231
1.78241
6
7
8
9
10
11
12
13
14
15
1.71931
1.80614
1.89735
1.99317
2.09382
1.73740
1.82688
1.92096
2.01989
2.12392
1.75567
1.84784
1.94485
2.04695
2.15442
1.77410
1.86902
1.96901
2.07435
2.18533
1.79271
1.89042
1.99345
2.10209
2.21665
1.81150
1.91204
2.01816
2.13017
2.24839
1.83047
1.93389
2.04316
2.15860
2.28056
1.84962
1.95598
2.06844
2.18738
2.31315
1.86895
1.97829
2.09402
2.21652
2.34618
1.88847
2.00083
2.11988
2.24601
2.37965
11
12
13
14
15
16
17
18
19
20
2.19956
2.31064
2.42733
2.54991
2.67868
2.23330
2.34832
2.46926
2.59642
2.73014
2.26753
2.38657
2.51187
2.64374
2.78254
2.30225
2.42542
2.55518
2.69188
2.83589
2.33746
2.46485
2.59919
2.74084
2.89022
2.37318
2.50489
2.64391
2.79065
2.94553
2.40941
2.54554
2.68937
2.84132
3.00185
2.44616
2.58682
2.73556
2.89285
3.05919
2.48343
2.62872
2.78250
2.94527
3.11757
2.52124
2,67125
2.83019
2.99859
3.17701
16
17
18
19
20
21
22
23
24
25
2.81395
2.95605
3.10534
3.26215
3.42689
2.87074
3.01858
3.17404
3.33750
3.50939
2.92862
3.08237
3.24420
3.41452
3.59378
2.98761
3.14745
3.31584
3.49324
3.68013
3.04774
3.21384
3.38899
3.57369
3.76846
3.10901
3.28156
3.46369
3.65592
3.85883
3.17146
3.35064
3.53996
3.73996
3.95127
3.23510
3.42111
3.61783
3.82585
4.04584
3.29995
3.49300
3.69734
3.91363
4.14258
3.36604
3.56632
3.77852
4.00334
4.24154
21
22
23
24
25
26
27
28
29
30
3.59995
3.78175
3.97273
4.17335
4.38411
3.69012
3.88016
4.07999
4.29011
4.51105
3,78246
3.98103
4.19004
4.41002
4.64154
3.87701
4.08443
4.30295
4.53316
4.77568
3.97384
4.19041
4.41879
4.65962
4.91357
4,07299
4.29904
4,53764
4.78948
5.05529
4.17452
4.41038
4.65957
4.92283
5.20097
4.27848
4.52449
4.78465
5.05976
5.35070
4.38492
4.64144
4.91296
5.20037
5.50459
4,49391
4,76130
5,04459
5,34475
5.66276
26
27
28
29
30
31
32
33
34
35
4.60550
4.83808
5.08240
5.33907
5.60869
4.74337
4.98765
5.24452
5.51461
5.79861
4,88522
5.14170
5.41164
5.69575
5.99478
5,03118
5,30035
5,58392
5,88266
6.19738
5.18135
5.46374
5.76151
6.07552
6.40663
5,33586
5,63200
5,94458
6,27450
6,62274
5,49483
5.80528
6.13328
6.47981
6.84592
5.65837
5.98372
6.32779
6.69163
7.07640
5,82661
6.16747
6.52826
6.91017
7.31441
5,99969
6.35668
6.73490
7,13562
7,56019
31
32
33
34
35
36
37
38
39
40
5.89193
6.18947
6.50204
6.83039
7.17533
6.09724
6.41125
6.74143
7.08861
7.45368
6.30950
6.64075
6.98939
7.35633
7.74254
6.52894
6.87824
7.24623
7.63390
8.04231
6.75579
7.12398
7.51224
7.92166
8.35339
6,99030
7,37826
7,78776
8,21998
8,67619
7.23272
7.64137
8.07310
8.52923
9.01114
7.48330
7.91359
8.36862
8.84981
9,35868
7.74231
8.19523
8.67465
9.18212
9.71927
8,01003
8,48662
8,99158
9,52657
10,09341
36
37
38
39
40
41
42
43
44
45
7.53768
7.91833
8.31821
8.73828
9.17956
7.83754
8.24118
8.66560
9.11187
9.58114
8.14902
8.57685
9.02713
9.50106
9.99986
8.47258
8.92586
9.40339
9.90647
10.43647
8.80865
9.28872
9.79495
10.32878
10.89170
9,15771
9,66597
10,20243
10.76866
11.36632
9.52027
10.05816
10.62645
11.22684
11.86116
9,89680
10.46587
11.06766
11.70405
12,37703
10.28785
10.88969
11.52674
12.20105
12.91481
10.69396
11.33025
12.00440
12.71867
13.47543
41
42
43
44
45
46
47
48
49
50
9.64313
10.13011
10.64168
11.17909
11.74363
10.07456
10.59340
11.13897
11.71262
12.31582
10.52485
11.07741
11.65897
12.27107
12.91530
10.99482
11.58305
12.20274
12.85559
13,54336
11,48530
12.11124
12.77131
13,46734
14,20131
11.99716
12.66300
13.36579
14.10760
14,89057
12.53131
13.23933
13.98736
14,77764
15,61258
13.08871
13.84131
14.63718
15,47882
16,36885
13.67033
14.47004
15.31654
16.21256
17.16099
14.27721
15.12671
16.02675
16.98034
17.99067
46
47
48
49
50
51
52
53
54
55
12.33668
12.95968
13.61415
14.30166
15.02390
12.95009
13.61702
14.31829
15.05568
15.83105
13.59335
14.30700
15.05812
15.84867
16,68073
14,26793
15,03126
15,83544
16,68263
17,57515
14.97528
15.79144
16,65207
17,55961
18,51661
15,71699
16,58929
17,50999
18,48180
19,50754
16,49469
17,42664
18,41124
19,45148
20,55049
17.31006
18,30539
19,35795
20,47103
21,64812
18.16491
19.22756
20.35237
21.54298
22.80325
19,06111
20.19525
21.39687
22.66998
24,01884
51
52
53
54
55
56
57
58
59
60
15.78260
16.57963
17.41690
18.29645
19.22042
16.64635
17.50364
18.40508
19.35294
20.34961
17,55647
18,47818
19,44828
20,46932
21,54396
18,51542
19,50600
20.54957
21.64897
22.80719
19,52576
20.58992
21.71207
22.89537
24,14317
20.59020
21.73296
22.93914
24.21226
25,55604
21.71159
22.93830
24.23431
25.60355
27.05015
22.89289
24.20923
25.60126
27.07333
28,63004
24.13724
25.54927
27.04390
28.62597
30.30058
25,44796
26,96212
28,56636
30,26606
32,06689
56
57
58
59
60
61
62
63
64
65
20.19105
21.21070
22.28184
23,40707
24,58913
21.39762
22.49960
23.65833
24.87673
26.15788
22.67501
23.86545
25.11839
26,43710
27,82504
24,02737
25.31284
26.66707
28.09376
29.59677
25.45897
26.84649
28.30962
29.85249
31.47945
26.97440
28.47148
30.05165
31.71951
33.47994
28.57848
30.19316
31.89908
33.70138
35.60549
30.27627
32.01716
33.85814
35.80499
37.86377
32.07317
33.94945
35.93549
38.03772
40.26290
33.97487
35.99637
38.13816
40.40738
42.81160
61
62
63
64
65
66
67
68
69
70
25.83088
27.13534
28.50568
29.94521
31.45744
27.50501
28.92152
30.41098
31.97714
33.62397
29.28586
30.82336
32.44159
34.14477
35.93737
31.18020
32.84834
34.60572
36.45713
38.40758
33.19508
35.00421
36.91194
38.92364
41.04497
35.33808
37.29934
39.36945
41.55446
43.86073
37.61720
39.74257
41.98803
44.36035
46.86671
40.04094
42.34329
44.77803
47.35277
50.07555
42.61828
45.11145
47.75047
50.54387
53.50069
45.35889
48.05775
50.91718
53.94675
57.15658
66
67
68
69
70
1
2
3
121
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE PERCENT) -
Year
6.0
6.2
6.1
6.3
6.4
6.5
Yo^ir
Tear
6.6
6.7
6.9
6.8
1
2
3
4
5
1 ,06049
1 12466
1 .19270
1., 2 6 4 8 6
ii . 3 4 1 3 8
1,. 0 6 1 4 9
1,. 1 2 6 7 8
1., 1 9 6 0 7
1,, 2 6 9 6 3
1., 3 4 7 7 2
1,, 0 6 2 4 9
1.. 1 2 8 9 0
1.. 1 9 9 4 6
1.. 2 7 4 4 2
1 .. 3 5 4 0 8
1.. 0 6 3 4 9
1 ,. 1 3 1 0 3
1 ., 2 0 2 8 5
1.27923
1«, 3 6 0 4 6
1., 0 6 4 4 9
1,, 1 3 3 1 6
1,, 2 0 6 2 4
1.. 2 8 4 0 5
1.. 3 6 6 8 7
1 ., 0 6 5 4 9
1 ., 1 3 5 2 9
1 ., 2 0 9 6 5
1 ., 2 8 8 8 8
1 ., 3 7 3 3 0
1,, 0 6 6 4 9
1 .. 1 3 7 4 2
1 .. 2 1 3 0 6
1 ., 2 9 3 7 2
1 ., 3 7 9 7 6
1.. 0 6 7 4 9
1.. 1 3 9 5 5
1., 2 1 6 4 7
1., 2 9 8 5 8
1., 3 8 6 2 4
1,. 0 6 8 4 9
1.. 1 4 1 6 9
1.. 2 1 9 8 9
1.. 3 0 3 4 6
1.39274
1.. 0 6 9 4 9
1.. 1 4 3 8 3
1., 2 2 3 3 2
1., 3 0 8 3 4
1., 3 9 9 2 7
1
2
3
4
5
6
7
8
9
10
ii . 4 2 2 5 3
1,, 5 0 8 6 0
1 ., 5 9 9 8 7
It,69666
1 ., 7 9 9 3 1
It.43060
1.. 5 1 8 5 8
1.. 6 1 1 9 8
i<, 7 1 1 1 1
1,, 8 1 6 3 5
1.. 4 3 8 7 1
1 ., 5 2 8 6 3
1,. 6 2 4 1 6
1.. 7 2 5 6 8
1.. 8 3 3 5 3
1 ., 4 4 6 8 5
1 .. 5 3 8 7 2
1 ., 6 3 6 4 3
1 ., 7 4 0 3 5
1 ., 8 5 0 8 6
1.. 4 5 5 0 3
1., 5 4 8 8 8
1.. 6 4 8 7 8
1,. 7 5 5 1 3
1,. 8 6 8 3 4
1 ., 4 6 3 2 5
1. 55910
1. 66122
1 ., 7 7 0 0 3
1 ., 8 8 5 9 6
1 ., 4 7 1 5 1
1 ., 5 6 9 3 7
1.67373
1 ., 7 8 5 0 3
1 ., 9 0 3 7 4
1., 4 7 9 8 1
1 ,, 5 7 9 7 0
1., 6 8 6 3 3
1., 8 0 0 1 5
1., 9 2 1 6 6
1., 4 8 8 1 5
1.. 5 9 0 0 8
1,. 6 9 9 0 1
1., 8 1 5 3 9
1., 9 3 9 7 4
1., 4 9 6 5 2
1 ., 6 0 0 5 3
1 ., 7 1 1 7 7
1., 8 3 0 7 4
1., 9 5 7 9 7
6
7
8
9
10
11
12
13
14
15
1., 9 0 8 1 7
2 ,, 0 2 3 6 1
2 ., 1 4 6 0 4
2 ,. 2 7 5 8 7
2 ,. 4 1 3 5 7
1., 9 2 8 0 5
2 ,, 0 4 6 6 3
2 .. 1 7 2 5 0
2 ,, 3 0 6 1 0
2 ,. 4 4 7 9 3
1., 9 4 8 1 3
2 ., 0 6 9 8 8
2 ,, 1 9 9 2 5
2 ,, 3 3 6 7 1
2 ,, 4 8 2 7 5
1., 9 6 8 3 9
2 ., 0 9 3 3 8
2 .. 2 2 6 3 1
2 .. 3 6 7 6 8
2 .. 5 1 8 0 3
1,. 9 8 8 8 5
2 ,, 1 1 7 1 3
2 ,, 2 5 3 6 8
2 ,, 3 9 9 0 4
2 ., 5 5 3 7 8
2 ., 0 0 9 4 9
2 .,14112
2«, 2 8 1 3 6
2 ., 4 3 0 7 9
2 ., 5 9 0 0 1
2 ., 0 3 0 3 4
2 ., 1 6 5 3 6
2 .. 3 0 9 3 5
2 .. 4 6 2 9 2
2 .. 6 2 6 7 1
2 ., 0 5 1 3 8
2 ., 1 8 9 8 5
2 .. 3 3 7 6 6
2 .. 4 9 5 4 5
2 .. 6 6 3 9 0
2 ., 0 7 2 6 2
2 .. 2 1 4 5 9
2 .. 3 6 6 2 9
2 .. 5 2 8 3 8
2 .. 7 0 1 5 7
2 ., 0 9 4 0 5
2 ., 2 3 9 5 9
2 .. 3 9 5 2 4
2 .. 5 6 1 7 1
2 .. 7 3 9 7 5
11
12
13
14
15
16
17
18
19
20
2 ., 5 5 9 5 9
2 ., 7 1 4 4 4
2 ., 8 7 8 6 7
3 ., 0 5 2 8 2
3 ., 2 3 7 5 2
2,. 5 9 8 4 8
2,. 7 5 8 2 8
2 .92792
3,. 1 0 7 9 9
3 .29913
2 ., 6 3 7 9 2
2 ,, 8 0 2 7 9
2 ,. 9 7 7 9 7
3 ,, 1 6 4 0 9
3 ., 3 6 1 8 5
2 .. 6 7 7 9 3
2 .. 8 4 7 9 8
3 ,, 0 2 8 8 2
3 ,. 2 2 1 1 5
3 ,, 4 2 5 7 0
2 ,, 7 1 8 5 0
2 ., 8 9 3 8 5
3,. 0 8 0 5 0
3 ., 2 7 9 1 9
3 ,. 4 9 0 7 0
2.75965
2 ., 9 4 0 4 1
3 ., 1 3 3 0 1
3 ,. 3 3 8 2 2
3 ,, 5 5 6 8 7
2 .. 8 0 1 3 8
2 .. 9 8 7 6 8
3 ., 1 8 6 3 6
3 ,. 3 9 8 2 5
3 ,, 6 2 4 2 3
2 .. 8 4 3 7 1
3 .. 0 3 5 6 6
3 ,, 2 4 0 5 7
3 .. 4 5 9 3 1
3 ,. 6 9 2 8 1
2 ,. 8 8 6 6 3
3 ,. 0 8 4 3 7
3 .29565
3 ,. 5 2 1 4 0
3 .76261
2 .. 9 3 0 1 6
3 .. 1 3 3 8 1
3 ,, 3 5 1 6 1
3 .. 5 8 4 5 5
3 .. 8 3 3 6 7
16
17
18
19
20
21
22
23
24
25
3 ,, 4 3 3 3 9
3 ., 6 4 1 1 1
3 ., 8 6 1 4 0
4 ,, 0 9 5 0 1
4,, 3 4 2 7 6
3 .50202
3 .71740
3 .94602
4^. 1 8 8 7 0
4,. 4 4 6 3 0
3 ., 5 7 1 9 6
3 ., 7 9 5 2 1
4 ,. 0 3 2 4 1
4 ,. 2 8 4 4 4
4 ,. 5 5 2 2 1
3 ,. 6 4 3 2 3
3 ,, 8 7 4 5 8
4 ,, 1 2 0 6 1
4 ,, 3 8 2 2 7
4 ., 6 6 0 5 4
3 ., 7 1 5 8 5
3 ,. 9 5 5 5 2
4 ,. 2 1 0 6 5
4 ,. 4 8 2 2 4
4,. 7 7 1 3 5
3 ,. 7 8 9 8 5
4.03808
4 ., 3 0 2 5 8
4 ., 5 8 4 4 0
4 ,, 8 8 4 6 7
3 ,. 8 6 5 2 5
4 ,. 1 2 2 2 9
4 ., 3 9 6 4 2
4 ., 6 8 8 7 8
5 ., 0 0 0 5 8
3 .. 9 4 2 0 7
4 ,. 2 0 8 1 6
4 ,, 4 9 2 2 2
4 ,, 7 9 5 4 4
5 ,, 1 1 9 1 3
4 ,. 0 2 0 3 5
4 ,. 2 9 5 7 5
4 ,. 5 9 0 0 1
4 ,. 9 0 4 4 2
5,. 2 4 0 3 8
4 .. 1 0 0 1 1
4 .. 3 8 5 0 7
4 .. 6 8 9 8 3
5 .. 0 1 5 7 8
5 ,, 3 6 4 3 7
21
22
23
24
25
26
27
28
29
30
4,, 6 0 5 5 0
4 ,, 8 8 4 1 3
5 ., 1 7 9 6 2
5 ., 4 9 2 9 9
5 ., 8 2 5 3 2
4,. 7 1 9 7 5
5 ,. 0 1 0 0 2
5,. 3 1 8 1 3
5,. 6 4 5 2 0
5,. 9 9 2 3 8
4 ,. 8 3 6 7 3
5 ., 1 3 9 0 2
5 ., 4 6 0 2 1
5 ., 8 0 1 4 8
6 .. 1 6 4 0 7
4 ., 9 5 6 4 9
5 .. 2 7 1 2 3
5 .. 6 0 5 9 5
5 .. 9 6 1 9 3
6 .. 3 4 0 5 1
5,. 0 7 9 1 0
5 ., 4 0 6 7 0
5 ., 7 5 5 4 3
6 ., 1 2 6 6 6
6 ,, 5 2 1 8 3
5 ., 2 0 4 6 2
5 ,, 5 4 5 5 2
5 ., 9 0 8 7 6
6«, 2 9 5 7 8
6 ., 7 0 8 1 5
5 .. 3 3 3 1 2
5 .. 6 8 7 7 8
6 .. 0 6 6 0 1
6 .. 4 6 9 4 0
6 ,. 8 9 9 6 2
5 ,. 4 6 4 6 7
5 .. 8 3 3 5 4
6 .. 2 2 7 3 0
6 .. 6 4 7 6 5
7 .. 0 9 6 3 6
5 ,. 5 9 9 3 4
5 .. 9 8 2 9 0
6 .. 3 9 2 7 3
6 .. 8 3 0 6 3
7 ,. 2 9 8 5 3
5 ,. 7 3 7 2 0
6 .. 1 3 5 9 3
6 .. 5 6 2 3 8
7 .. 0 1 8 4 7
7 .. 5 0 6 2 5
26
27
28
29
30
31
32
33
34
35
6 ,, 1 7 7 7 5
6 ,. 5 5 1 5 0
6,, 9 4 7 8 7
7 ,, 3 6 8 2 1
7 ,, 8 1 3 9 9
6
6
7
7
8
.36091
.75211
.16736
.60816
.07606
6 ,. 5 4 9 3 2
6 ,. 9 5 8 6 6
7 .39357
7 ,. 8 5 5 6 7
6, . 3 4 6 6 5
6 ,, 7 4 3 1 3
7 ., 1 7 1 3 2
7 ,. 6 2 6 7 0
8 ., 1 1 1 0 0
8 .. 6 2 6 0 5
6 ,. 9 4 2 4 8
7,. 3 9 0 2 7
7,. 8 6 6 9 5
8,. 3 7 4 3 7
8,. 9 1 4 5 1
7, , 1 4 7 5 4
7 ,, 6 1 5 7 0
8 .. 1 1 4 5 3
8 ,, 6 4 6 0 3
9 ,. 2 1 2 3 5
7 ,, 3 5 8 4 4
7 ., 8 4 7 7 8
8 ,. 3 6 9 6 6
8 .. 9 2 6 2 4
9 .. 5 1 9 8 4
7 .. 5 7 5 3 7
8 ,, 0 8 6 7 1
8 ., 6 3 2 5 6
9 ,, 2 1 5 2 6
9 ,, 8 3 7 2 9
7 ,. 7 9 8 4 8
8,. 3 3 2 6 7
8 .90346
9 .51335
10 . 1 6 5 0 1
8 ,. 0 2 7 9 4
8 ,, 5 8 5 8 8
9 ,, 1 8 2 6 0
9 ,, 8 2 0 7 9
1 0 ,, 5 0 3 3 3
31
32
33
34
35
36
37
38
39
40
8., 2 8 6 7 4
8 ., 7 8 8 0 9
9 ,, 3 1 9 7 7
9 ,, 8 8 3 6 1
10,, 4 8 1 5 7
8 .57273
9,. 0 9 9 9 6
9 .65961
10^. 2 5 3 6 7
10 . 8 8 4 2 7
8,. 8 6 8 3 2
9 ,. 4 2 2 5 9
10,. 0 1 1 5 0
10,. 6 3 7 2 2
11,. 3 0 2 0 4
9.17380
9 ,, 7 5 6 3 4
1 0 ., 3 7 5 8 6
11., 0 3 4 7 3
1 1 ., 7 3 5 4 4
9,. 4 8 9 5 0
10,. 1 0 1 5 7
10,. 7 5 3 1 2
11,. 4 4 6 7 0
12,. 1 8 5 0 1
9 ., 8 1 5 7 5
1 0 ., 4 5 8 6 9
1 1 ,, 1 4 3 7 3
1 1 ,, 8 7 3 6 4
1 2 ,, 6 5 1 3 7
1 0 .. 1 5 2 9 0
1 0 .. 8 2 8 0 7
11.. 5 4 8 1 4
12.. 3 1 6 0 9
13.. 1 3 5 1 1
10,, 5 0 1 3 0
1 1 .. 2 1 0 1 4
11,, 9 6 6 8 3
12,, 7 7 4 5 9
13,, 6 3 6 8 7
10,. 8 6 1 3 2
1 1 '. 6 0 5 3 2
12,. 4 0 0 2 8
13,. 2 4 9 7 0
14,. 1 5 7 3 0
1 1 ,, 2 3 3 3 1
1 2 .. 0 1 4 0 3
1 2 ,, 8 4 9 0 0
1 3 ,, 7 4 2 0 1
1 4 ,. 6 9 7 0 8
36
37
38
39
40
41
42
43
44
45
11,, 1 1 5 7 0
11,, 7 8 8 2 0
12,, 5 0 1 3 9
1 3 ,. 2 5 7 7 3
1 4 .. 0 5 9 8 2
11 . 5 5 3 6 5
12,. 2 6 4 2 0
13,. 0 1 8 4 5
1 3 ,. 8 1 9 0 9
1 4 .. 6 6 8 9 6
12,. 0 0 8 4 2
12,. 7 5 8 9 5
13., 5 5 6 3 8
1 4 ,, 4 0 3 6 6
1 5 ,, 3 0 3 8 8
1 2 ., 4 8 0 6 4
1 3 ,. 2 7 3 1 6
1 4 .. 1 1 6 0 0
1 5 ., 0 1 2 3 7
15.96565
12,. 9 7 0 9 4
13,. 8 0 7 5 7
1 4 ., 6 9 8 1 6
1 5 ,, 6 4 6 1 9
1 6 ,. 6 5 5 3 7
1 3 ,, 4 8 0 0 3
1 4 ., 3 6 2 9 7
1 5 ., 3 0 3 7 5
1 6 ., 3 0 6 1 4
1 7 ,, 3 7 4 2 0
1 4 .. 0 0 8 6 0
1 4 ,, 9 4 0 1 7
1 5 .. 9 3 3 6 9
1 6 .. 9 9 3 2 8
1 8 .. 1 2 3 3 3
14,, 5 5 7 3 6
1 5 .. 5 3 9 9 8
1 6 .. 5 8 8 9 3
1 7 ., 7 0 8 6 8
1 8 ., 9 0 4 0 2
15,. 1 2 7 0 8
16,. 1 6 3 2 8
1 7 .. 2 7 0 4 7
1 8 ,. 4 5 3 5 0
1 9 .. 7 1 7 5 6
1 5 .. 7 1 8 5 3
1 6 .. 8 1 0 9 6
1 7 ., 9 7 9 3 3
1 9 ,, 2 2 8 8 9
2 0 ,,56530
41
42
43
44
45
46
47
48
49
50
14.. 9 1 0 4 4
15.. 8 1 2 5 2
16,. 7 6 9 1 8
17,. 7 8 3 7 1
18,. 8 5 9 6 2
15.. 5 7 1 1 0
16.. 5 2 8 7 3
1 7 ,. 5 4 5 2 4
1 8 ., 6 2 4 2 7
1 9 ,. 7 6 9 6 7
1 6 ,, 2 6 0 3 8
1 7 ,. 2 7 6 6 5
1 8 ,. 3 5 6 4 4
1 9 ,, 5 0 3 7 2
2 0 .. 7 2 2 7 0
1 6 ., 9 7 9 4 7
1 8 .. 0 5 7 6 7
1 9 ,, 2 0 4 3 3
2 0 .. 4 2 3 8 1
2 1 .. 7 2 0 7 2
1 7 ,, 7 2 9 6 4
1 8 ,, 8 7 3 2 0
2 0 ,, 0 9 0 5 2
2 1 ., 3 8 6 3 6
2 2 ., 7 6 5 7 8
1 8 ., 5 1 2 2 1
1 9 ,, 7 2 4 7 6
2 1 ,,01673
2 2 ,, 3 9 3 3 2
2 3 ,, 8 6 0 0 8
1 9 .. 3 2 8 5 3
2 0 .. 6 1 3 8 8
2 1 .. 9 8 4 7 0
2 3 .. 4 4 6 6 8
2 5 .. 0 0 5 8 9
2 0 .. 1 8 0 0 4
2 1 .. 5 4 2 1 9
2 2 ., 9 9 6 2 9
2 4 .. 5 4 8 5 4
2 6 .. 2 0 5 5 7
2 1 .. 0 6 8 2 1
2 2 .. 5 1 1 3 8
2 4 .. 0 5 3 4 1
2 5 ,. 7 0 1 0 7
2 7 .. 4 6 1 6 0
2 1 ,, 9 9 4 5 9
2 3 ,, 5 2 3 2 1
2 5 ,,15807
2 6 ,, 9 0 6 5 6
2 8 ,, 7 7 6 5 6
46
47
48
49
50
51
52
53
54
55
2 0 ,, 0 0 0 6 3
2 1 ,, 2 1 0 6 7
2 2 ,, 4 9 3 9 2
2 3 ,, 8 5 4 8 0
2 5 ,, 2 9 8 0 1
2 0 ,. 9 8 5 5 0
2 2 ,. 2 7 6 1 1
2 3 ,. 6 4 6 0 9
2 5 ,. 1 0 0 3 2
2 6 ,. 6 4 3 9 9
2 2 ., 0 1 7 8 7
2 3 ., 3 9 3 9 9
2 4 ,, 8 5 6 1 1
2 6 ., 4 0 9 6 2
2 8 ., 0 6 0 2 2
2 3 ,, 0 9 9 9 8
2 4 ,, 5 6 6 8 3
2 6 ,, 1 2 6 8 3
2 7 ., 7 8 5 8 8
2 9 ,, 5 5 0 2 8
2 4 ,. 2 3 4 1 7
2 5 ,. 7 9 7 2 7
2 7 ,. 4 6 1 2 0
2 9 ,. 2 3 2 4 5
3 1 ,. 1 1 7 9 4
2 5 ., 4 2 2 9 2
2 7 ., 0 8 8 1 2
28.86239
3 0 ., 7 5 2 8 8
3 2 ., 7 6 7 1 9
2 6 ., 6 6 8 7 8
2 8 ., 4 4 2 2 5
3 0 ., 3 3 3 6 6
3 2 ., 3 5 0 8 5
3 4 ., 5 0 2 1 8
2 7 ,, 9 7 4 4 4
2 9 ,, 8 6 2 7 2
3 1 ,, 8 7 8 4 5
3 4 ., 0 3 0 2 4
3 6 ,, 3 2 7 2 8
2 9 ,. 3 4 2 7 2
3 1 ,. 3 5 2 6 9
33 . 5 0 0 3 5
35 . 7 9 5 1 2
3 8 ,. 2 4 7 0 9
3 0 ., 7 7 6 5 3
3 2 ., 9 1 5 5 0
3 5 ,, 2 0 3 1 3
3 7 ,. 6 4 9 7 5
4 0 ,. 2 6 6 4 0
51
52
53
54
55
56
57
58
59
60
2 6 ,, 8 2 8 5 4
2 8 ,. 4 5 1 6 7
3 0 ,. 1 7 2 9 9
3 1 ,. 9 9 8 4 6
3 3 ,. 9 3 4 3 7
28^. 2 8 2 6 0
3 0 ,. 0 2 1 9 8
3 1 ,. 8 6 8 3 3
3 3 ,. 8 2 8 2 3
3 5 ,. 9 0 8 6 7
2 9 ,. 8 1 3 9 8
3 1 ,. 6 7 7 3 6
3 3 .. 6 5 7 1 9
3 5 ,. 7 6 0 7 6
3 7 ,, 9 9 5 8 1
3 1 ,. 4 2 6 7 2
3 3 ,. 4 2 2 3 2
3 5 ., 5 4 4 6 4
3 7 ., 8 0 1 7 2
4 0 ., 2 0 2 1 3
33 . 1 2 5 0 4
3 5 ,. 2 6 1 6 1
3 7 ,. 5 3 5 9 8
3 9 ,. 9 5 7 0 5
4 2 ,. 5 3 4 2 8
3 4 .. 9 1 3 4 4
3 7 .. 2 0 0 2 7
3 9 .. 6 3 6 8 9
4 2 ., 2 3 3 1 0
4 4 ., 9 9 9 3 7
3 6 ,. 7 9 6 5 7
3 9 ., 2 4 3 5 5
4 1 ., 8 5 3 2 4
4 4 ., 6 3 6 4 8
4 7 ., 6 0 4 8 1
3 8 .. 7 7 9 3 7
4 1 .. 3 9 6 9 8
4 4 .. 1 9 1 2 8
4 7 .. 1 7 4 1 9
5 0 .. 3 5 8 4 4
40
43
46
49
53
.86701
.66640
.65755
.85359
.26856
43.06492
4 6 ,. 0 5 7 9 3
4 9 ,. 2 5 8 9 6
5 2 ,, 6 8 2 4 5
5 6 ,. 3 4 3 8 8
56
57
58
59
60
61
62
63
64
65
3 5 ,, 9 8 7 3 9
3 8 ,, 1 6 4 6 3
4 0 ,. 4 7 3 5 9
4 2 ,, 9 2 2 2 4
4 5 .. 5 1 9 0 2
3 8 ,. 1 1 7 0 5
4 0 ,. 4 6 1 2 5
4 2 .. 9 4 9 6 2
4 5 .. 5 9 1 0 2
4 8 ., 3 9 4 8 4
4 0 ., 3 7 0 5 5
4 2 ,, 8 9 3 7 1
4 5 ,, 5 7 4 5 6
4 8 ,, 4 2 2 9 7
5 1 ,, 4 4 9 3 8
4 2 ,, 7 5 4 9 7
4 5 ,, 4 6 9 9 1
4 8 ,. 3 5 7 2 5
5 1 ,, 4 2 7 9 3
5 4 .. 6 9 3 6 2
4 5 ,. 2 7 7 7 4
4 8 ,. 1 9 8 1 5
5 1 ,. 3 0 6 9 3
5 4 ,. 6 1 6 2 3
5 8 ., 1 3 8 9 8
4 7 ., 9 4 6 8 3
5 1 ., 0 8 7 3 4
54.43356
5 7 ., 9 9 8 9 6
6 1 ,, 7 9 7 9 0
50.77052
5 4 ,, 1 4 6 7 6
5 7 ,. 7 4 7 5 2
6 1 ,, 5 8 7 7 3
6 5 .. 6 8 3 3 2
5 3 ,, 7 5 7 6 4
57.38628
6 1 ., 2 5 9 8 5
6 5 ,, 3 9 4 8 9
6 9 .. 8 0 9 0 4
5 6 ,. 9 1 7 4 6
6 0 ,. 8 1 6 3 1
6 4 ,. 9 8 2 2 2
6 9 ,. 4 3 3 5 0
7 4 ,. 1 8 9 7 1
6 0 ,. 2 5 9 7 8
6 4 ,, 4 4 7 8 3
68.92696
7 3 ., 7 1 7 3 8
7 8 ,, 8 4 0 7 3
61
62
63
64
65
66
67
68
69
70
4 8 ,, 2 7 2 9 2
51.19343
5 4 ., 2 9 0 6 3
5 7 ,, 5 7 5 2 1
6 1 ,, 0 5 8 5 1
5 1 ,. 3 7 1 1 2
5 4 ,. 5 3 0 4 4
5 7 ,. 8 8 4 0 6
6 1 ,. 4 4 3 9 3
6 5 ,. 2 2 2 7 3
5 4 ,. 6 6 4 9 6
5 8 ,. 0 8 1 5 2
6 1 ,. 7 1 1 6 1
6 5 ,. 5 6 8 5 9
6 9 ,. 6 6 6 6 2
5 8 ., 1 6 6 6 6
6 1 ., 8 6 0 2 4
6 5 .. 7 8 8 3 7
6 9 .. 9 6 5 9 3
7 4 .. 4 0 8 7 6
6 1 ,. 8 8 8 9 5
6 5 ,. 8 8 0 7 8
7 0 ,. 1 3 0 0 9
7 4 ,. 6 5 3 4 8
7 9 ,. 4 6 8 6 3
6 5 ., 8 4 5 6 6
7 0 .. 1 5 8 5 5
7 4 .. 7 5 3 9 3
7 9 .. 6 5 0 3 1
8 4 .. 8 6 7 4 0
7 0 ,, 0 5 1 2 6
7 4 ,, 7 0 9 6 6
7 9 .. 6 7 7 8 6
8 4 ,. 9 7 6 4 4
90'. 6 2 7 3 6
7 4 .. 5 2 1 1 5
7 9 ,, 5 5 1 3 3
8 4 ., 9 2 1 0 4
9 0 ,. 6 5 3 2 1
9 6 ,. 7 7 2 3 0
7 9 ,. 2 7 1 7 1
84 . 7 0 1 8 2
90 . 5 0 3 8 9
96 . 7 0 3 4 0
103 . 3 2 7 5 9
8 4 ., 3 2 0 1 6
9 0 ,. 1 8 0 4 1
9 6 .. 4 4 7 9 5
1 0 3 .. 1 5 1 0 7
1 1 0 .. 3 2 0 0 7
66
67
68
69
70
122
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) -
Ypsir
1 Cdl
7.0
7.1
7.2
7.3
7.4
7.5
Tear
Voor
7.6
7.7
7.8
7.9
1
2
3
4
5
1 .07049
1 .14597
1 ,22676
1 .31324
1.40583
1.07149
1,. 1 4 8 1 1
1,, 2 3 0 2 0
1 .31816
1 .41241
1.07249
1.15025
1 .23364
1.32308
1.41901
1.07349
1 .15240
1 ,. 2 3 7 1 0
1.32803
1.42564
1.07449
1.15455
1 .24056
1.33298
1.43229
1.07549
1,. 1 5 6 7 0
1 ,, 2 4 4 0 3
1.33795
1.43897
1 .07649
1,. 1 5 8 8 5
1,, 2 4 7 5 0
1.34293
1 .44567
1.07749
1.16100
1.25098
1.34793
1.45240
1 .07849
1.16316
1 .25447
1 .35294
1 .45915
1,, 2 5 7 9 6
1.35797
1 .46592
1
2
3
4
5
6
7
8
9
10
1.50494
1.61104
1.72461
1.84620
1.97636
1.51339
1.62160
1.73755
1.86178
1.99490
1.52189
1.63222
1.75056
1.87748
2 .01359
1.53042
1.64291
1.76366
1.89329
2 .03245
1.53899
1.65365
1.77685
1.90922
2 .05146
1.54761
1.66445
1 .79012
1.92527
2 .07063
1 .55626
1.67532
1 .80348
1 .94145
2 .08997
1.56496
1.68624
1.81692
1.95774
2 .10946
1.57369
.69723
1.83046
1.97415
2 .12912
1.58247
1.70827
1.84408
1.99069
2 .14895
6
7
8
9
10
11
12
13
14
15
2 .11569
2 .26485
2 .42452
2 .59545
2 .77843
2 .13753
2 .29037
2 .45413
2 .62960
2 .81762
2 .15958
2 .31615
2 .48407
2 .66417
2 .85732
2 .18183
2 .34220
2 .51435
2 .69915
2 .89754
2 .20429
2 .36851
2 .54497
2 .73457
2 .93829
2 .22697
2 .39510
2 .57593
2 .77042
2 .97958
2 .24985
2 .42196
2 .60724
2 .80670
3.02141
2 .27295
2 .44910
2 .63890
2 .84342
3 .06378
2
2
2
2
3
.29626
.47651
.67092
.88059
.10671
2 .31979
2,. 5 0 4 2 1
2 .70329
2 .91821
3,. 1 5 0 2 1
11
12
13
14
15
16
17
18
19
20
2 .97431
3 .18400
3 .40847
3 .64877
3,. 9 0 6 0 0
3
3
3
3
3
.01908
.23494
.46624
.71407
.97963
3 .06447
3 .28665
3 .52493
3 .78049
4 .05457
3 .11051
3 .33914
3 .58456
3 .84803
4 .13086
3 .15720
3 .39241
3 .64514
3 .91671
4 .20850
3 .20454
3 .44648
3 .70669
3 .98655
4 .28753
3 .25255
3 .50137
3 .76922
4,. 0 5 7 5 7
4,. 3 6 7 9 7
3 .30123
3 .55707
3 .83275
4 .12979
4 .44984
3
3
3
4
4
.35059
.61361
.89728
.20322
.53317
3 .40065
3 .67100
3 .96284
4,, 2 7 7 8 9
4,. 6 1 7 9 8
16
17
18
19
20
21
22
23
24
25
4 ,» 1 8 1 3 8
4 ,, 4 7 6 1 6
4 ,. 7 9 1 7 3
5 ,. 1 2 9 5 5
5 ,. 4 9 1 1 8
4<, 2 6 4 1 7
4 ,, 5 6 9 0 6
4, , 8 9 5 7 5
5,, 2 4 5 8 0
5 .. 6 2 0 8 7
4 .34853
4 .66380
5 .00193
5 .36456
5.. 7 5 3 5 0
4.. 4 3 4 4 8
4,. 7 6 0 4 1
5 .11030
5 .48591
5,, 8 8 9 1 2
4 .52204
4,. 8 5 8 9 3
5 .22092
5 .60988
6,. 0 2 7 8 1
4,, 6 1 1 2 4
4,, 9 5 9 3 9
5,. 3 3 3 8 3
5,. 7 3 6 5 3
6, , 1 6 9 6 4
4, , 7 0 2 1 2
5, , 0 6 1 8 4
5,, 4 4 9 0 7
5,, 8 6 5 9 2
6 ,. 3 1 4 6 6
4 .79471
5,. 1 6 6 3 0
5 .56669
5 .99810
6,. 4 6 2 9 6
4 .88903
5 .27282
5 .68673
6 .13314
6, . 6 1 4 5 9
4., 9 8 5 1 1
5,, 3 8 1 4 3
5,, 8 0 9 2 5
6,, 2 7 1 0 9
6, . 7 6 9 6 4
21
22
23
24
25
26
27
28
29
30
5. . 8 7 8 3 1
6 ,. 2 9 2 7 3
6 ,. 7 3 6 3 7
7.21129
7 .. 7 1 9 6 8
6, , 0 2 2 7 6
6 ,. 4 5 3 3 9
6 .. 9 1 4 8 1
7 .. 4 0 9 2 2
7. . 9 3 8 9 8
6 .17062
6,. 6 1 8 0 0
7, . 0 9 7 8 0
7, . 6 1 2 3 9
8,. 1 6 4 2 9
6 .32197
6, , 7 8 6 6 4
7 ,, 2 8 5 4 6
7, , 8 2 0 9 4
8,, 3 9 5 7 8
6 .47689
6,. 9 5 9 4 1
7, , 4 7 7 8 9
8,, 0 3 4 9 9
8,. 6 3 3 6 0
6,. 6 3 5 4 5
7, , 1 3 6 4 2
7 ,. 6 7 5 2 2
8.25470
8,, 8 7 7 9 3
6, , 7 9 7 7 4
7 ,. 3 1 7 7 6
7.87757
8.48021
9 ,. 1 2 8 9 4
6 .96384
7,. 5 0 3 5 3
8,, 0 8 5 0 6
8,, 7 1 1 6 5
9 .38680
7 .13384
7 ,. 6 9 3 8 4
8, , 2 9 7 8 1
8, , 9 4 9 1 9
9, . 6 5 1 7 0
7,, 3 0 7 8 3
7 ,. 8 8 8 8 0
8 ,, 5 1 5 9 6
9 .. 1 9 2 9 8
9, . 9 2 3 8 2
26
27
28
29
30
31
32
33
34
35
8.. 2 6 3 9 2
8,. 8 4 6 5 3
9,. 4 7 0 2 1
10,. 1 3 7 8 6
10,. 8 5 2 5 8
8,. 5 0 6 6 2
9,. 1 1 4 8 4
9,, 7 6 6 5 5
10,, 4 6 4 8 6
11., 2 1 3 1 0
8 .75620
9 .39102
10 . 0 7 1 8 7
10 . 8 0 2 0 8
11,. 5 8 5 2 4
9 .01287
9 .67531
10,. 3 8 6 4 5
11,. 1 4 9 8 5
11.96937
9 .27681
9 .96793
10 . 7 1 0 5 4
11 . 5 0 8 4 7
12,. 3 6 5 8 5
9,. 5 4 8 2 2
10,. 2 6 9 1 1
11,, 0 4 4 4 3
11., 8 7 8 2 8
12., 7 7 5 0 9
9,. 8 2 7 3 1
10,, 5 7 9 1 0
11. , 3 8 8 4 0
12. , 2 5 9 6 1
13, . 1 9 7 4 7
10 . 1 1 4 2 8
10 . 8 9 8 1 4
11 . 7 4 2 7 4
12,. 6 5 2 8 1
13,. 6 3 3 4 0
10 . 4 0 9 3 6
11 . 2 2 6 4 9
12 . 1 0 7 7 7
13 . 0 5 8 2 3
14,. 0 8 3 3 1
10,, 7 1 2 7 6
11,, 5 6 4 4 3
12, . 4 8 3 8 0
13. . 4 7 6 2 6
14. . 5 4 7 6 2
31
32
33
34
35
36
37
38
39
40
11,. 6 1 7 6 8
12,. 4 3 6 7 3
13,. 3 1 3 5 2
14,, 2 5 2 1 2
15,. 2 5 6 9 0
12,, 0 1 4 8 3
12., 8 7 3 8 9
13.79438
14, . 7 8 0 6 7
15. . 8 3 7 4 9
12 . 4 2 5 1 7
13,. 3 2 5 9 9
14,, 2 9 2 1 2
15,. 3 2 8 3 0
16,, 4 3 9 6 0
12,. 8 4 9 1 1
13,. 7 9 3 5 2
14, , 8 0 7 3 5
15,, 8 9 5 6 9
17, , 0 6 4 0 2
13 . 2 8 7 1 1
14,. 2 7 7 0 0
15, , 3 4 0 6 4
16,, 4 8 3 5 1
17, , 7 1 1 5 4
13,, 7 3 9 6 1
14,, 7 7 6 9 5
15, . 8 9 2 6 1
17,. 0 9 2 5 0
18, . 3 8 2 9 9
14, , 2 0 7 0 8
15. . 2 9 3 9 2
1 6 ,. 4 6 3 9 0
17. . 7 2 3 3 9
1 9 .. 0 7 9 2 3
14,. 6 8 9 9 9
15,. 8 2 8 4 6
17,, 0 5 5 1 7
18,, 3 7 6 9 4
19,, 8 0 1 1 5
15 . 1 8 8 8 5
16,. 3 8 1 1 7
17,, 6 6 7 0 9
19,, 0 5 3 9 6
2 0 ., 5 4 9 6 9
15. . 7 0 4 1 6
16. . 9 5 2 6 4
1 8 ., 3 0 0 3 7
1 9 ,, 7 5 5 2 5
2 1 ,, 3 2 5 8 0
36
37
38
39
40
41
42
43
44
45
16,. 3 3 2 5 1
17, . 4 8 3 9 5
18, . 7 1 6 5 7
2 0 .. 0 3 6 0 8
2 1 ,, 4 4 8 6 3
1 6 ,. 9 6 9 8 7
1 8 ,. 1 8 3 2 2
19.48332
2 0 ., 8 7 6 3 8
2 2 ., 3 6 9 0 4
17, , 6 3 1 4 8
18, , 9 0 9 7 6
2 0 ,, 2 8 0 7 1
2 1 ., 7 5 1 0 7
2 3 ,, 3 2 8 0 2
18, . 3 1 8 2 3
19. . 6 6 4 6 1
2 1 ,, 1 0 9 9 6
2 2 ,. 6 6 1 5 5
2 4 ,. 3 2 7 1 7
19, , 0 3 1 0 4
2 0 ., 4 4 8 8 6
2 1 ., 9 7 2 3 0
2 3 ,, 6 0 9 2 3
2 5 ,, 3 6 8 1 2
19. . 7 7 0 9 0
2 1 ,. 2 6 3 6 1
2 2 .. 8 6 9 0 1
2 4 ,, 5 9 5 6 2
2 6 .. 4 5 2 5 9
2 0 ., 5 3 8 7 9
2 2 .. 1 1 0 0 1
2 3 ,, 8 0 1 4 3
2 5 ,, 6 2 2 2 3
2 7 ,, 5 8 2 3 4
2 1 ,, 3 3 5 7 4
2 2 .. 9 8 9 2 6
2 4 ., 7 7 0 9 3
2 6 ,. 6 9 0 6 8
2 8 ,. 7 5 9 2 0
2 2 ., 1 6 2 8 4
2 3 .. 9 0 2 6 3
2 5 ., 7 7 8 9 8
2 7 .. 8 0 2 6 3
2 9 .. 9 8 5 1 4
2 3 ., 0 2 1 2 0
2 4 .. 8 5 1 3 8
2 6 .. 8 2 7 0 7
2 8 .. 9 5 9 8 2
3 1 ,. 2 6 2 1 2
41
42
43
44
45
46
47
48
49
50
2 2 ., 9 6 0 7 5
2 4 ,. 5 7 9 4 9
2 6 ,. 3 1 2 3 4
2 8 ,. 1 6 7 3 6
3 0 .. 1 5 3 1 6
2 3 ,, 9 6 8 4 2
2 5 ,, 6 8 2 1 7
2 7 ,, 5 1 8 4 4
29.48601
3 1 ,. 5 9 4 2 6
2 5 ,, 0 1 9 3 0
2 6 ,, 8 3 3 2 0
2 8 ,, 7 7 8 6 0
3 0 ,. 8 6 5 0 5
3 3 ,, 1 0 2 7 7
2 6 ,. 1 1 5 2 2
2 8 ,. 0 3 4 6 8
3 0 .. 0 9 5 2 3
3 2 ,, 3 0 7 2 3
3 4 ,, 6 8 1 8 1
2 7 ,, 2 5 8 0 5
2 9 ,, 2 8 8 7 7
3 1 ., 4 7 0 7 8
3 3 ,, 8 1 5 3 6
3 6 ,, 3 3 4 6 0
2 8 ,. 4 4 9 7 6
3 0 .. 5 9 7 7 2
32.90784
3 5 ,. 3 9 2 3 9
3 8 .. 0 6 4 5 1
2 9 ,, 6 9 2 3 8
3 1 ., 9 6 3 8 5
3 4 ,, 4 0 9 0 8
3 7 .. 0 4 1 3 8
3 9 ,, 8 7 5 0 4
3 0 ,. 9 8 8 0 4
3 3 ,. 3 8 9 6 1
3 5 ., 9 7 7 3 1
3 6 ,, 7 6 5 5 5
4 1 ., 7 6 9 8 8
3 2 .. 3 3 8 9 7
3 4 .. 8 7 7 5 8
3 7 .. 6 1 5 4 7
4 0 ., 5 6 8 2 8
4 3 .. 7 5 2 8 9
3 3 ,, 7 4 7 4 6
3 6 ,, 4 3 0 3 8
39.32660
4 2 .. 4 5 3 0 6
4 5 .. 8 2 8 0 8
46
47
48
49
50
51
52
53
54
55
3 2 ,, 2 7 8 9 6
3 4 ,, 5 5 4 6 2
3 6 ,, 9 9 0 7 2
3 9 ,, 5 9 8 5 7
4 2 ,. 3 9 0 2 6
3 3 .. 8 5 3 2 5
3 6 .. 2 7 3 7 5
3 8 .. 8 6 7 3 3
4 1 ., 6 4 6 3 4
4 4 ., 6 2 4 0 5
3 5 ,. 5 0 2 7 2
3 8 ,. 0 7 6 6 6
4 0 ,, 8 3 7 2 2
4 3 ,, 7 9 7 9 2
4 6 ,, 9 7 3 2 7
3 7 ,, 2 3 0 9 3
3 9 ,, 9 6 7 4 0
4 2 ., 9 0 5 0 0
4 6 .. 0 5 8 5 2
4 9 .. 4 4 3 8 2
3 9 ,. 0 4 1 5 3
4 1 ,, 9 5 0 1 2
4 5 ., 0 7 5 4 0
4 8 ,. 4 3 3 5 2
5 2 .. 0 4 1 8 1
4 0 ., 9 3 8 3 8
4 4 ,. 0 2 9 2 3
4 7 .. 3 5 3 4 3
5 0 ,, 9 2 8 6 2
5 4 ,, 7 7 3 7 3
4 2 .. 9 2 5 4 8
4 6 .. 2 0 9 2 8
4 9 ,, 7 4 4 2 9
5 3 .. 5 4 9 7 3
5 7 ,. 6 4 6 2 8
4 5 ,, 0 0 7 0 4
4 8 ,, 4 9 5 0 9
52.25345
5 6 .. 3 0 3 1 0
6 0 ., 6 6 6 5 8
4 7 ,, 1 8 7 5 0
5 0 ., 8 9 1 7 1
5 4 ., 8 8 6 7 1
5 9 .. 1 9 5 3 2
6 3 ., 8 4 2 1 5
4 9 .. 4 7 1 4 1
5 3 .. 4 0 4 3 9
5 7 ,. 6 5 0 0 3
6 2 ,, 2 3 3 2 1
6 7 ., 1 8 0 7 5
51
52
53
54
55
56
57
58
59
60
4 5 ,, 3 7 8 7 8
4 8 ,, 5 7 7 9 8
5 2 ,, 0 0 2 7 2
5 5 ,, 6 6 8 9 2
5 9 .,59357
4 7 ,.81467
5 1 ,. 2 3 3 4 2
5 4 ,, 8 9 6 6 1
5 8 ,. 8 2 1 7 1
6 3 ,,02746
5 0 .. 3 7 8 8 3
54.03129
5 7 ,. 9 4 8 5 6
6 2 ,. 1 4 9 8 3
6 6 ,, 6 5 5 6 9
5 3 ,, 0 7 7 9 4
5 6 ,, 9 7 9 1 6
6 1 ,, 1 6 7 1 3
6 5 ,, 6 6 2 9 1
7 0 ., 4 8 9 1 4
5 5 ,. 9 1 8 9 3
6 0 .. 0 8 4 8 9
6 4 ,. 5 6 1 2 1
6 9 ,, 3 7 1 0 2
7 4 ,, 5 3 9 1 6
5 8 ., 9 0 9 1 4
6 3 ., 3 5 6 7 8
6 8 .. 14022
7 3 .. 2 8 4 8 1
78.81781
6 2 .,05622
6 6 ,, 8 0 3 5 2
7 1 ,,91399
7 7 ,,41541
8 3 ,,33769
6 5 .. 3 6 8 2 4
7 0 .. 4 3 4 2 8
7 5 .. 8 9 2 9 4
8 1 .. 7 7 4 6 3
8 8 ,. 1 1 2 1 7
6 8 .. 8 5 3 7 5
7 4 ., 2 5 8 7 7
8 0 ., 0 8 8 0 8
8 6 .. 3 7 4 9 9
9 3 ,.15543
7 2 ,. 5 2 1 6 2
7 8 ,. 2 8 7 0 8
8 4 ,, 5 1 0 9 0
9 1 ,, 2 2 9 5 2
9 8 ,, 4 8 2 2 6
56
57
58
59
60
61
62
63
64
65
63.
68.
73.
78.
83.
79492
29246
10708
26112
77854
6 7 .,53392
7 2 .,36260
7 7 .,53652
8 3 .,08038
8 9 .,02060
7 1 ,, 4 8 8 2 2
7 6 ., 6 7 1 1 2
8 2 ., 2 2 9 7 7
8 8 ., 1 9 1 4 3
9 4 ,, 5 8 5 3 5
75.67009
8 1 ,,23184
8 7 ,,20238
93.61175
1 0 0 ,, 4 9 2 2 1
8 0 .. 0 9 2 3 2
8 6 ,. 0 5 9 2 0
9 2 ,. 4 7 0 6 1
9 9 .. 3 5 9 6 6
1 0 6 ,, 7 6 1 9 5
8 4 ,, 7 6 8 5 5
9 1 ,,16858
9 8 ,,05180
1 0 5 ,, 4 5 4 7 1
1 1 3 ,, 4 1 6 5 0
8 9 .,71302
9 6 .,57606
103. 96413
1 1 1 .,91739
1 2 0 .,47906
9 4 ,,94086
1 0 2 ,, 2 9 8 7 7
1 1 0 ., 2 2 6 9 2
1 1 8 ,, 7 6 9 5 1
1 2 7 ,, 9 7 4 1 7
1 0 0 .. 4 6 8 1 3
1 0 8 .. 3 5 4 8 7
116.86073
1 2 6 ., 0 3 4 2 9
1 3 5 ., 9 2 7 9 7
1 0 6 ,, 3 1 1 6 0
1 1 4 ,, 7 6 3 3 7
1 2 3 ,, 8 8 7 0 5
1 3 3 ,, 7 3 6 0 7
1 4 4 ,, 3 6 8 0 7
61
62
63
64
65
89. 68492
96. 00770
102. 77625
110, 02197
117. 77852
9 5 .,38557
1 0 2 ., 2 0 5 6 3
1 0 9 .,51334
1 1 7 ,, 3 4 3 5 4
1 2 5 ., 7 3 3 6 0
1 0 1 ., 4 4 2 7 8
1 0 8 ., 7 9 7 3 8
1 1 6 ., 6 8 5 1 9
1 2 5 ., 1 4 4 8 6
1 3 4 ,, 2 1 7 8 6
1 0 7 ,, 8 7 8 3 9
1 1 5 ,, 8 0 7 4 4
1 2 4 ,, 3 1 9 2 9
1 3 3 ,. 4 5 6 7 4
1 4 3 ,, 2 6 5 8 1
1 1 4 ,, 7 1 5 7 2
1 2 3 ,. 2 6 2 0 4
1 3 2 ,. 4 4 5 0 5
1 4 2 .. 3 1 2 2 0
1 5 2 ,. 9 1 4 4 6
1 2 1 ., 9 7 9 4 5
1 3 1 ,, 1 8 8 8 8
1 4 1 ,, 0 9 3 6 5
1 5 1 ,, 7 4 6 2 1
1 6 3 ., 2 0 3 0 5
129. 69571
1 3 9 .,61743
150. 29816
1 6 1 ,, 7 9 5 9 6
174. 17335
1 3 7 ,, 8 9 2 1 6
1 4 8 ,, 5 7 8 7 9
1 6 0 ,, 0 9 3 6 4
1 7 2 .. 5 0 0 8 9
1 8 5 ,, 8 6 9 7 2
1 4 6 ., 5 9 8 3 2
1 5 8 .. 1 0 6 2 7
1 7 0 .. 5 1 7 6 2
1 8 3 ., 9 0 3 2 5
1 9 8 ,. 3 3 9 6 3
1 5 5 ,, 8 4 5 3 4
1 6 8 ,, 2 3 5 0 3
1 8 1 ,, 6 0 9 7 3
1 9 6 ,, 0 4 7 6 9
2 1 1 ,,63347
66
67
68
69
70
66
67
68
69
70
1
1.07949
1 ,. 1 6 5 3 2
123
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) 8.0
8.1
8.2
8.3
8.4
8.5
8.8
8.7
8.8
8.9
Year
1
2
3
4
5
1 .08049
1 ,16748
1 .26146
1 .36300
1.. 4 7 2 7 3
1.. 0 8 1 4 9
1.. 1 6 9 6 4
1.. 2 6 4 9 6
1.. 3 6 8 0 6
1,. 4 7 9 5 5
1.. 0 8 2 4 9
1.. 1 7 1 8 0
1,. 2 6 8 4 8
1.. 3 7 3 1 2
1.. 4 8 6 4 1
1.08349
1.17397
1.27199
1.37821
1 .49329
1 .08449
1.. 1 7 6 1 4
1 .27552
1.. 3 8 3 3 0
1.. 5 0 0 1 9
1,. 0 8 5 4 9
1.. 1 7 8 3 1
1.. 2 7 9 0 5
1.. 3 8 8 4 1
1, , 5 0 7 1 2
1.. 0 8 6 4 9
1.. 1 8 0 4 8
1.. 2 8 2 5 9
1.. 3 9 3 5 3
1.. 5 1 4 0 7
1.. 0 8 7 4 9
1.. 1 8 2 6 5
1.. 2 8 6 1 3
1.. 3 9 8 6 7
1.52105
1.. 0 8 8 4 9
1.. 1 8 4 8 3
1.. 2 8 9 6 8
1.. 4 0 3 8 2
1., 5 2 8 0 6
1.. 0 8 9 4 9
1.. 1 8 7 0 1
1.. 2 9 3 2 4
1.. 4 0 8 9 9
1., 5 3 5 0 9
1
2
3
4
5
6
7
8
9
10
i<. 5 9 1 2 8
1.. 7 1 9 3 8
1.85779
2 .. 0 0 7 3 4
2<. 1 6 8 9 4
1.. 6 0 0 1 4
1.. 7 3 0 5 5
i« . 8 7 1 5 9
2 .. 0 2 4 1 3
2 .. 1 8 9 0 9
1.. 6 0 9 0 4
1.. 7 4 1 7 8
1.. 8 8 5 4 8
2, . 0 4 1 0 3
2. . 2 0 9 4 2
1 .61798
1 .75308
1 .89946
2 .05806
2 .22991
1., 6 2 6 9 6
1., 7 6 4 4 3
1., 9 1 3 5 3
2. , 0 7 5 2 2
2. , 2 5 0 5 8
1. , 6 3 5 9 8
1,, 7 7 5 8 5
1., 9 2 7 6 9
2 ., 0 9 2 5 1
2 ,, 2 7 1 4 2
1.. 6 4 5 0 4
1.78734
1.. 9 4 1 9 4
2 .. 1 0 9 9 2
2 .. 2 9 2 4 3
1.. 6 5 4 1 5
1.. 7 9 8 8 9
1.95629
2.12746
2 .. 3 1 3 6 2
1., 6 6 3 2 9
1., 8 1 0 5 0
1., 9 7 0 7 3
2 ., 1 4 5 1 4
2 ., 3 3 4 9 8
1., 6 7 2 4 8
1.82217
1., 9 8 5 2 6
2 ., 1 6 2 9 4
2 ., 3 5 6 5 2
6
7
8
9
10
11
12
13
lif
15
2 .. 3 4 3 5 3
2<. 5 3 2 1 9
2 .. 7 3 6 0 3
2 ,. 9 5 6 2 8
3 .. 1 9 4 2 6
2 .. 3 6 7 5 0
2t . 5 6 0 4 6
2 i. 7 6 9 1 3
2 .. 9 9 4 8 2
3 .. 2 3 8 9 0
2. . 3 9 1 7 0
2 .. 5 8 9 0 1
2 .. 8 0 2 6 0
3 .. 0 3 3 8 2
3.28411
2 .41611
2.. 6 1 7 8 6
2,, 8 3 6 4 5
3 ,07329
3., 3 2 9 9 1
2. . 4 4 0 7 5
2. . 6 4 7 0 0
2 .. 8 7 0 6 7
3. . 1 1 3 2 4
3 .. 3 7 6 3 1
2 ,, 4 6 5 6 3
2 ,, 6 7 6 4 4
2 ., 9 0 5 2 7
3.15367
3 ,. 4 2 3 3 1
2 .. 4 9 0 7 3
2 .. 7 0 6 1 7
2 ,, 9 4 0 2 6
3 ,, 1 9 4 5 9
3 ,. 4 7 0 9 2
2 ., 5 1 6 0 6
2 ., 7 3 6 2 1
2 ,, 9 7 5 6 3
3 ,. 2 3 6 0 0
3 ,. 5 1 9 1 5
2 ., 5 4 1 6 3
2 ., 7 6 6 5 6
3 ,. 0 1 1 4 0
3 ,. 2 7 7 9 1
3 ,. 5 6 8 0 1
2 ., 5 6 7 4 3
2 ,, 7 9 7 2 2
3 ,. 0 4 7 5 7
3 ,. 3 2 0 3 2
3 .. 6 1 7 4 9
11
12
13
14
15
16
17
18
19
20
3.45140
3 .. 7 2 9 2 4
4 .. 0 2 9 4 4
4 ,. 3 5 3 8 1
4«. 7 0 4 3 0
3 i. 5 0 2 8 7
3 ,. 7 8 8 3 5
4 .. 0 9 7 1 0
4 .. 4 3 1 0 2
4 ,. 7 9 2 1 4
3 .. 5 5 5 0 5
3 .. 8 4 8 3 4
4 .. 1 6 5 8 3
4.50951
4 .. 8 8 1 5 5
3 ,60796
3., 9 0 9 2 3
4. , 2 3 5 6 5
4. , 5 8 9 3 2
4 .. 9 7 2 5 3
3. . 6 6 1 6 1
3 .. 9 7 1 0 2
4 .. 3 0 6 5 7
4 .. 6 7 0 4 7
5 .. 0 6 5 1 3
3 ,, 7 1 6 0 1
4 ., 0 3 3 7 3
4.37861
4 .. 7 5 2 9 8
5 .,15936
3 ., 7 7 1 1 6
4 ,, 0 9 7 3 6
4 ,, 4 5 1 7 9
4 ,. 8 3 6 8 7
5 ,• 2 5 5 2 6
3 ,. 8 2 7 0 8
4 ,. 1 6 1 9 5
4 ,. 5 2 6 1 2
4 ,. 9 2 2 1 5
5 ,. 3 5 2 8 4
3 ,. 8 8 3 7 8
4 ,. 2 2 7 4 9
4 ,. 6 0 1 6 2
5 ,. 0 0 8 8 7
5 .. 4 5 2 1 5
3.94126
4 ,, 2 9 4 0 0
4 ,, 6 7 8 3 2
5 ,, 0 9 7 0 2
5 ,, 5 5 3 2 1
16
17
18
19
20
21
22
23
24
25
5 .. 0 8 2 9 9
5 .. 4 9 2 1 7
5 ,. 9 3 4 2 9
6, . 4 1 2 0 1
6. . 9 2 8 1 7
5 .. 1 8 2 7 0
5 .. 6 0 5 0 9
6 .. 0 6 1 9 1
6 .. 5 5 5 9 5
7 .. 0 9 0 2 7
5. . 2 8 4 2 7
5,. 7 2 0 2 3
6 .. 1 9 2 1 4
6,. 7 0 3 0 0
7.. 2 5 5 9 9
5
5
6
6
7
.38774
.83761
.32506
.85320
.42544
5., 4 9 3 1 3
5., 9 5 7 3 0
6. , 4 6 0 6 9
7,. 0 0 6 6 2
7 .59868
5 ., 6 0 0 4 9
6 ,, 0 7 9 3 3
6 ., 5 9 9 1 1
7 ,. 1 6 3 3 4
7 ,. 7 7 5 8 0
5 ., 7 0 9 8 4
6.20374
6 .. 7 4 0 3 6
7. . 3 2 3 4 0
7. . 9 5 6 8 8
5.82122
6 .. 3 3 0 5 7
6 .. 8 8 4 5 0
7. . 4 8 6 8 9
8.. 1 4 2 0 0
5 .. 9 3 4 6 7
6 .. 4 5 9 8 9
7 .. 0 3 1 5 9
7 .. 6 5 3 8 8
8 .. 3 3 1 2 5
6.05022
6 ,, 5 9 1 7 2
7 ,, 1 8 1 6 7
7 ,. 8 2 4 4 4
8 .. 5 2 4 7 2
21
22
23
24
25
26
27
28
29
30
7, . 4 8 5 8 9
8. . 0 8 8 5 0
8 .. 7 3 9 6 3
9<. 4 4 3 1 7
10.. 2 0 3 3 4
7. . 6 6 8 1 2
8. . 2 9 3 0 7
8. . 9 6 8 9 6
9 .. 6 9 9 9 3
10. . 4 9 0 4 8
7 .85461
8,. 5 0 2 6 2
9 .20409
9,. 9 6 3 4 2
10.. 7 8 5 4 1
8
8
9
10
11
.04546
.71726
.44515
.23382
.08835
8 .24077
8,. 9 3 7 1 2
9 .69230
10.. 5 1 1 3 0
11 . 3 9 9 5 1
8 ,. 4 4 0 6 3
9 ,. 1 6 2 3 1
9 ,. 9 4 5 6 8
1 0 ,. 7 9 6 0 4
1 1 ,. 7 1 9 1 0
8.. 6 4 5 1 5
9. . 3 9 2 9 5
10.. 2 0 5 4 4
11. . 0 8 8 2 1
12. . 0 4 7 3 4
8.. 8 5 4 4 2
9 .. 6 2 9 1 8
10.. 4 7 1 7 4
11. . 3 8 8 0 1
12.. 3 8 4 4 6
9 .. 0 6 8 5 6
9 .. 8 7 1 1 3
10. . 7 4 4 7 3
11. . 6 9 5 6 4
12. . 7 3 0 7 0
9 .. 2 8 7 6 8
10. . 1 1 8 9 3
11. . 0 2 4 5 8
12.01128
13. . 0 8 6 2 9
26
27
28
29
30
31
32
33
34
35
11.. 0 2 4 7 1
11.. 9 1 2 2 0
12. . 8 7 1 1 4
13.. 9 0 7 2 6
15.. 0 2 6 8 0
11. . 3 4 5 4 5
12. . 2 7 0 1 0
1 3 .. 2 7 0 1 2
1 4 .. 3 5 1 6 3
15. . 5 2 1 2 9
11.. 6 7 5 2 0
12.. 6 3 8 4 1
13,. 6 8 1 0 7
14,. 8 0 9 7 6
16,. 0 3 1 5 7
12 . 0 1 4 2 2
13 . 0 1 7 4 1
14,. 1 0 4 3 7
15 . 2 8 2 0 8
16 . 5 5 8 1 3
12 . 3 6 2 7 6
13., 4 0 7 4 2
14, , 5 4 0 3 4
15., 7 6 9 0 0
17,, 1 0 1 4 8
1 2 ,. 7 2 1 0 8
1 3 ,. 8 0 8 7 4
1 4 ,, 9 8 9 3 8
1 6 ,, 2 7 0 9 8
1 7 ,, 6 6 2 1 4
13.. 0 8 9 4 4
14. . 2 2 1 6 8
15.45185
16. . 7 8 8 4 4
18. . 2 4 0 6 4
13.. 4 6 8 1 1
14.. 6 4 6 5 6
15. , 9 2 8 1 4
17. , 3 2 1 8 5
18. , 8 3 7 5 1
13. . 8 5 7 3 7
15. . 0 8 3 7 4
1 6 .. 4 1 8 6 6
1 7 .. 8 7 1 7 1
1 9 ., 4 5 3 3 5
14. . 2 5 7 5 1
15. . 5 3 3 5 6
1 6 ., 9 2 3 8 1
18. , 4 3 8 4 9
2 0 ., 0 8 8 7 3
31
32
33
34
35
36
37
38
39
40
16. . 2 3 6 4 5
17, . 5 4 3 4 9
18. . 9 5 5 7 4
2 0 .. 4 8 1 6 7
2 2 .. 1 3 0 4 5
1 6 .. 7 8 6 2 7
1 8 ,. 1 5 4 3 6
1 9 ,. 6 3 3 9 3
2 1 ,. 2 3 4 1 0
2 2 .. 9 6 4 6 8
17.. 3 5 4 1 7
18,78589
2 0 .. 3 3 5 7 3
2 2 .. 0 1 3 4 2
2 3 ,, 8 2 9 5 3
17.. 9 4 0 7 4
19,, 4 3 8 7 9
2 1 ., 0 6 1 9 3
2 2 ., 8 2 0 6 0
2 4 ,. 7 2 6 1 2
18. . 5 4 6 5 6
2 0 .. 1 1 3 7 4
2 1 .. 8 1 3 3 5
2 3 .. 6 5 6 5 8
2 5 ,. 6 5 5 5 6
1 9 ,, 1 7 2 2 6
2 0 .,81148
2 2 ,, 5 9 0 8 7
2 4 ,, 5 2 2 3 8
2 6 ,, 6 1 9 0 5
1 9 .. 8 1 8 4 5
2 1 ,. 5 3 2 7 5
2 3 ,. 3 9 5 3 3
2 5 .. 4 1 9 0 2
2 7 .. 6 1 7 7 7
2 0 ,. 4 8 5 7 9
2 2 ,. 2 7 8 3 0
2 4 ,. 2 2 7 6 5
2 6 ,. 3 4 7 5 7
2 8 ., 6 5 2 9 8
2 1 .. 1 7 4 9 7
2 3 .. 0 4 8 9 6
2 5 ,. 0 8 8 7 9
2 7 ,. 3 0 9 1 5
2 9 .. 7 2 6 0 1
2 1 ,. 8 8 6 6 8
2 3 .. 8 4 5 5 3
2 5 .. 9 7 9 7 1
2 8 ., 3 0 4 8 9
3 0 ,. 8 3 8 1 8
36
37
38
39
40
41
42
43
44
45
2 3 .. 9 1 1 9 5
2 5 .. 8 3 6 8 6
2 7 .. 9 1 6 7 3
3 0 ., 1 6 4 0 2
3 2 .. 5 9 2 2 3
2 4 .. 8 3 6 3 0
26.86046
2 9 .. 0 4 9 5 9
3 1 .. 4 1 7 1 3
3 3 ,. 9 7 7 6 2
2 5 .. 7 9 5 4 7
2 7 ,. 9 2 3 5 9
30 .22729
3 2 ,. 7 2 1 0 4
3 5 ,. 4 2 0 5 2
26
29
31
34
36
.79075
.02778
.45159
.07780
.92330
2 7 .. 8 2 3 4 6
3 0 ., 1 7 4 5 4
32 .72429
3 5 ,. 4 8 9 4 9
3 8 ,. 4 8 8 3 5
2 8 ,. 8 9 4 9 8
3 1 ,. 3 6 5 5 0
3 4 ,. 0 4 7 2 5
3 6 ,. 9 5 8 2 8
4 0 ,, 1 1 8 2 2
3 0 .. 0 0 6 7 0
3 2 .. 6 0 2 2 8
3 5 .. 4 2 2 3 8
3 8 .. 4 8 6 4 2
41.81549
31.16012
3 3 .. 8 8 6 6 3
3 6 .. 8 5 1 7 0
4 0 .. 0 7 6 2 3
4 3 .. 5 8 2 9 0
3 2 .. 3 5 6 7 6
3 5 .. 2 2 0 3 3
3 8 .. 3 3 7 3 3
4 1 .. 7 3 0 1 8
4 5 .. 4 2 3 3 0
3 3 ., 5 9 8 1 9
3 6 ., 6 0 5 2 3
3 9 ., 8 8 1 4 0
4 3 ., 4 5 0 7 8
4 7 ,. 3 3 9 6 3
41
42
43
44
45
46
47
48
49
50
3 5 .. 2 1 5 9 0
3 8 .. 0 5 0 7 8
4 1 .. 1 1 3 8 7
4 4 ,. 4 2 3 5 3
4 7 .. 9 9 9 6 3
3 6 .. 7 4 6 8 0
3 9 ,. 7 4 1 6 6
4 2 .. 9 8 0 6 1
4 6 .. 4 8 3 5 2
5 0 ,. 2 7 1 9 3
3 8 ,. 3 4 2 7 2
4 1 ,, 5 0 5 9 9
4 4 ,. 9 3 0 2 3
4 8 ,, 6 3 6 9 7
5 2 ., 6 4 9 5 2
40
43
46
50
55
.00639
.34692
.96639
.88808
.13724
4 1 ,, 7 4 0 6 1
4 5 ., 2 6 7 6 9
4 9 .. 0 9 2 8 1
5 3 .. 2 4 1 1 5
5 7 .. 7 4 0 0 3
4 3 ,. 5 4 8 3 2
4 7 ,. 2 7 1 7 0
5 1 ,. 3 1 3 4 3
5 5 ,. 7 0 0 7 3
6 0 ,. 4 6 3 1 4
4 5 .. 4 3 2 5 3
4 9 .. 3 6 2 4 4
5 3 .. 6 3 2 2 9
5 8 .. 2 7 1 4 8
6 3 .. 3 1 1 9 6
47.39640
5 1 .. 5 4 3 5 8
5 6 .. 0 5 3 6 4
6 0 .. 9 5 8 3 3
6 6 .. 2 9 2 1 9
4 9 .. 4 4 3 2 6
5 3 .. 8 1 8 9 8
5 8 .. 5 8 1 9 6
6 3 .. 7 6 6 4 6
6 9 .. 4 0 9 7 9
5 1 ,. 5 7 6 5 2
5 6 ,. 1 9 2 6 2
6 1 ., 2 2 1 8 6
6 6 ., 7 0 1 2 1
7 2 ., 6 7 0 9 7
46
47
48
49
50
51
52
53
54
55
5 1 .. 8 6 3 5 9
5 6 .. 0 3 8 6 1
6 0 .. 5 4 9 7 2
6 5 .. 4 2 3 9 7
7 0 .. 6 9 0 6 0
5 4 ,. 3 6 9 0 9
5 8 ,. 8 0 0 1 7
6 3 .. 5 9 2 3 8
6 8 ,. 7 7 5 1 6
7 4 ,. 3 8 0 3 4
5 6 .. 9 9 3 1 1
6 1 .. 6 9 5 0 4
6 6 .. 7 8 4 8 7
7 2 .. 2 9 4 6 2
78.25893
59 . 7 4 1 2 0
64 . 7 2 9 5 8
7 0 .. 1 3 4 5 0
7 5 ,, 9 9 0 7 3
8 2 ., 3 3 5 9 5
62 .61906
6 7 .. 9 1 0 3 7
7 3 .. 6 4 8 7 9
7 9 .. 8 7 2 1 1
8 6 .. 6 2 1 3 1
6 5 ,. 6 3 2 7 4
7 1 ,. 2 4 4 3 4
7 7 ,, 3 3 5 7 3
8 3 ,, 9 4 7 9 3
9 1 ,, 1 2 5 4 8
6 8 .. 7 8 8 4 5
7 4 .. 7 3 8 6 5
8 1 .. 2 0 3 5 4
8 8 ., 2 2 7 6 4
9 5 ., 8 5 9 3 3
7 2 .. 0 9 2 7 5
7 8 .. 4 0 0 8 6
8 5 ., 2 6 0 9 3
9 2 ., 7 2 1 2 6
1 0 0 ., 8 3 4 3 7
7 5 .. 5 5 2 5 6
8 2 .. 2 3 8 9 6
8 9 .. 5 1 7 1 0
9 7 .. 4 3 9 3 6
1 0 6 .. 0 6 2 7 4
7 9 ., 1 7 5 0 2
8 6 ,. 2 6 1 1 8
9 3 ,, 9 8 1 5 5
1 0 2 ,, 3 9 2 8 9
1 1 1 ,, 5 5 7 0 6
51
52
53
54
55
56
57
58
59
60
7 6 .. 3 8 1 1 9
8 2 .. 5 2 9 8 7
8 9 .. 1 7 3 5 3
9 6 .. 3 5 1 9 9
104. . 1 0 8 3 2
8 0 .. 4 4 2 3 3
8 6 ,. 9 9 8 3 8
9 4 ,. 0 8 8 7 5
1 0 1 .. 7 5 6 9 8
1 1 0 .. 0 5 0 1 7
8 4 .. 7 1 5 2 9
9 1 .. 7 0 4 3 0
9 9 .. 2 6 9 9 0
107.45966
1 1 6 .. 3 2 5 0 8
8 9 .. 2 1 1 0 0
9 6 .. 6 6 0 1 2
104. . 7 3 1 2 4
113. , 4 7 6 2 9
1 2 2 ., 9 5 1 5 6
9 3 .. 9 4 0 8 0
1 0 1 .. 8 7 8 8 0
1 1 0 .. 4 8 7 5 5
1 1 9 .. 8 2 3 7 5
1 2 9 .. 9 4 8 8 5
9 8 ,, 9 1 6 7 0
107.37408
116.55456
126.51997
137.33742
104.15116
1 1 3 ,. 1 6 0 2 3
1 2 2 ., 9 4 8 5 8
1 3 3 ., 5 8 3 6 3
1 4 5 ., 1 3 8 6 1
1 0 9 ., 6 5 7 3 7
119.25239
129.68697
141.03457
153.37509
1 1 5 .. 4 4 9 2 9
1 2 5 .. 6 6 6 5 4
1 3 6 .. 7 8 8 0 3
1 4 8 .. 8 9 3 7 6
1 6 2 .. 0 7 0 8 5
1 2 1 ,, 5 4 1 4 1
1 3 2 ,, 4 1 9 3 6
1 4 4 ,. 2 7 0 8 9
1 5 7 ,. 1 8 3 1 3
1 7 1 ,. 2 5 1 0 1
56
57
58
59
60
61
62
63
64
65
112. . 4 8 9 0 4
121. . 5 4 4 4 1
131, , 3 2 8 7 2
141. . 9 0 0 6 7
153, . 3 2 3 7 2
119.01925
1 2 8 .. 7 1 9 3 1
1 3 9 .. 2 0 9 9 3
150( . 5 5 5 5 4
1 6 2 .. 8 2 5 8 4
1 2 5 ,, 9 2 1 8 9
136. . 3 1 0 4 4
1 4 7 ,, 5 5 6 0 4
159. . 7 2 9 4 1
172. . 9 0 7 0 5
133
144
156
169
183
.21801
.34171
.39423
.45314
.60247
1 4 0 ., 9 2 9 5 2
1 5 2 ., 8 3 8 0 6
1 6 5 ,, 7 5 2 8 7
1 7 9 .. 7 5 8 9 7
1 9 4 .. 9 4 8 7 0
149.07976
1 6 1 ,. 8 2 6 0 9
1 7 5 ,. 6 6 2 2 0
1 9 0 ,. 6 8 1 3 2
2 0 6 ,. 9 8 4 5 8
1 5 7 ., 6 9 3 1 0
1 7 1 .. 3 3 3 5 4
1 8 6 .. 1 5 3 8 9
2 0 2 .. 2 5 6 2 0
2 1 9 .. 7 5 1 4 0
1 6 6 ., 7 9 5 4 0
1 8 1 .. 3 8 9 9 9
1 9 7 .. 2 6 1 6 0
2 1 4 .. 5 2 2 0 0
2 3 3 .. 2 9 2 7 0
1 7 6 .. 4 1 4 1 2
1 9 2 .. 0 2 6 7 6
2 0 9 .. 0 2 1 1 1
2 2 7 .. 5 1 9 4 7
2 4 7 .. 6 5 4 9 9
1 8 6 ,. 5 7 7 9 7
2 0 3 ., 2 7 6 6 9
2 2 1 ,. 4 6 9 9 5
2 4 1 .. 2 9 1 4 9
2 6 2 ., 8 8 7 0 8
61
62
63
64
65
66
67
68
69
70
165. . 6 6 6 2 7
179, . 0 0 2 4 2
193, . 4 1 2 1 0
2 0 8 .. 9 8 1 7 7
2 2 5 .. 8 0 4 8 0
1 7 6 .. 0 9 6 1 5
1 9 0 .. 4 4 7 9 8
2 0 5 .. 9 6 9 4 8
2 2 2 .. 7 5 5 9 8
2 4 0 .. 9 1 0 5 9
187, . 1 7 1 8 8
202 •61353
2 1 9 ,. 3 2 9 1 6
2 3 7 ,. 4 2 3 8 1
2 5 7 ,. 0 1 1 2 5
198 . 9 3 3 2 7
215 .54419
233 . 5 4 2 1 1
253.04287
274 . 1 7 1 9 3
211 .42185
229 .28701
248 .66175
269 .67365
2 9 2 .. 4 6 1 0 7
2 2 4 ,. 6 8 1 7 6
2 4 3 ,. 8 9 2 0 4
2 6 4 ,, 7 4 4 8 0
2 8 7 ., 3 8 0 4 7
3 1 1 ,. 9 5 1 4 9
2 3 8 .. 7 5 9 8 9
2 5 9 .. 4 1 2 6 2
2 8 1 .. 8 5 1 8 0
306 .23198
3 3 2 .. 7 2 1 0 4
2 5 3 .. 7 0 5 8 0
2 7 5 .. 9 0 5 0 4
300.04673
326 .30079
3 5 4 ., 8 5 2 1 0
2 6 9 .. 5 7 2 4 4
2 9 3 .. 4 2 9 5 8
3 1 9 ., 3 9 8 1 0
347 . 6 6 4 8 0
3 7 8 .. 4 3 3 1 5
2 8 6 ., 4 1 5 4 7
3 1 2 .. 0 4 9 6 3
3 3 9 .. 9 7 8 0 8
370 .40608
4 0 3 ., 5 5 7 4 3
66
67
68
69
70
124
TABLE A1. GROWTH RATE CONVERSION TABLE - CONTINUED
GROWTH RATE (PERCENT) -
Year
9.0
9.2
9.1
9.4
9.3
Year
9.6
9.5
9.8
9.7
9.9
1
2
3
4
5
1 .09049
1 .18919
1 .29681
1 .41417
1., 5 4 2 1 5
1.09149
1.19137
1 .30038
1 .41936
1,. 5 4 9 2 3
1 .09249
1 .19355
1,. 3 0 3 9 6
1,. 4 2 4 5 7
1,. 5 5 6 3 4
1 .09349
1 .19574
1,. 3 0 7 5 4
1,. 4 2 9 7 9
1.. 5 6 3 4 8
1.09449
1.19793
1 .31113
1 .43503
1.. 5 7 0 6 4
1.. 0 9 5 4 9
1,. 2 0 0 1 2
1.. 3 1 4 7 3
1.. 4 4 0 2 8
1., 5 7 7 8 3
1.09649
1.20231
1.31833
1 .44555
1,. 5 8 5 0 5
1.09749
1.20450
1,. 3 2 1 9 4
1,. 4 5 0 8 3
1.. 5 9 2 2 9
1 .09849
1 .20670
1,. 3 2 5 5 6
1,. 4 5 6 1 3
1.. 5 9 9 5 5
1.09949
1.20890
1,. 3 2 9 1 8
1,. 4 6 1 4 3
1,. 6 0 6 8 5
1
2
3
4
5
6
7
8
9
10
1.. 6 8 1 7 2
1.. 8 3 3 9 1
1.99988
2 .18087
2 .37824
1.69099
1,. 8 4 5 7 2
2 .01460
2 .19894
2 .40014
1 .70031
1.. 8 5 7 5 9
2,. 0 2 9 4 1
2 .21713
2,. 4 2 2 2 2
1 .70967
1.. 8 6 9 5 2
2. . 0 4 4 3 2
2,. 2 3 5 4 7
2,. 4 4 4 4 8
1.71907
1,. 8 8 1 5 2
2,. 0 5 9 3 3
2 .25393
2 .46693
1.. 7 2 8 5 1
1., 8 9 3 5 9
2 ., 0 7 4 4 3
2,. 2 7 2 5 3
2., 4 8 9 5 6
1.73800
1 .90572
2 .08962
2 .29127
2 .51238
1.74753
1.. 9 1 7 9 2
2.. 1 0 4 9 2
2 .31015
2,. 5 3 5 3 9
1.75711
1 .93019
2, . 1 2 0 3 1
2 .32916
2 .55858
1.76673
1,. 9 4 2 5 2
2,. 1 3 5 8 0
2 .34831
2,. 5 8 1 9 7
6
7
8
9
10
11
12
13
14
15
2 .59347
2 .82818
3 .08413
3 .36325
3 .66762
2
2
3
3
3
2 .64627
2,. 8 9 1 0 6
3,. 1 5 8 4 8
3,. 4 5 0 6 4
3,. 7 6 9 8 2
2 .67304
2,. 9 2 2 9 7
3,. 1 9 6 2 7
3 .49512
3,. 8 2 1 9 1
2 .70005
2 .95521
3,. 2 3 4 4 8
3 .54014
3 .87468
2,. 7 2 7 3 1
2. , 9 8 7 7 7
3. , 2 7 3 1 1
3,. 5 8 5 6 9
3.. 9 2 8 1 2
2
3
3
3
3
.75483
.02067
.31216
.63178
.98225
2 .78259
3 .05389
3,. 3 5 1 6 4
3 .67843
4,. 0 3 7 0 8
2 .81060
3, . 0 8 7 4 5
3, . 3 9 1 5 6
3,. 7 2 5 6 3
4, . 0 9 2 6 1
2 .83888
3,. 1 2 1 3 5
3,. 4 3 1 9 2
3 .77340
4,. 1 4 8 8 5
11
12
13
14
15
16
17
18
19
20
3 .99954
4 .36150
4 .75621
5 .18665
5 .65604
4 .05863
4 .42999
4 .83534
5 .27777
5 .76068
4
4
4
5
5
4
4
4
5
5
4
4
5
5
6
.24084
.64160
.08023
.56031
.08576
4,. 3 0 3 2 6
4,. 7 1 4 2 2
5 .16443
5,. 6 5 7 6 3
6 .19793
4
4
5
5
6
.36654
.78791
.24995
.75657
.31207
4 .43069
4 .86269
5 .33680
5 .85714
6 .42821
4
4
5
5
6
.49573
.93856
.42501
.95937
.54637
4 .56166
5,. 0 1 5 5 5
5 .51459
6 .06329
6 .66659
16
17
18
19
20
21
22
23
24
25
6
6
7
7
8
.16791
.72611
.33482
.99863
.72250
6 .28779
6 .86312
7 .49110
8 .17653
8 .92468
6 .40988
7 .00279
7,. 6 5 0 5 5
8 .35822
9,. 1 3 1 3 6
6 .53422
7 .14517
7,. 8 1 3 2 4
8 .54378
9,. 3 4 2 6 3
6 .66086
7 .29031
7,. 9 7 9 2 5
8 .73329
9,. 5 5 8 5 8
6,. 7 8 9 8 4
7,. 4 3 8 2 7
8.. 1 4 8 6 2
8,. 9 2 6 8 1
9. , 7 7 9 3 3
6
7
8
9
10
.92119
.58908
.32143
.12445
.00496
7 .05496
7 .74282
8,. 4 9 7 7 4
9 .32627
10,. 2 3 5 5 8
7 .19119
7 .89952
8,. 6 7 7 6 2
9 .53237
10,. 4 7 1 3 1
7 .32992
8 .05925
8,. 8 6 1 1 4
9 .74282
10,. 7 1 2 2 4
21
22
23
24
25
26
27
28
29
30
9 .51189
10,. 3 7 2 7 2
11 . 3 1 1 4 5
12,. 3 3 5 1 3
13,. 4 5 1 4 6
9 .74129
10,. 6 3 2 6 2
11 . 6 0 5 5 1
12,. 6 6 7 4 1
13,. 8 2 6 4 8
9,. 9 7 6 0 1
10.. 8 9 8 7 9
11,. 9 0 6 9 3
13.. 0 0 8 3 2
14. , 2 1 1 5 9
10,. 2 1 6 1 6
11. . 1 7 1 3 7
12. . 2 1 5 9 0
13. , 3 5 8 0 8
14. , 6 0 7 0 6
10,. 4 6 1 8 7
11. . 4 5 0 5 1
12.. 5 3 2 5 9
13. , 7 1 6 9 2
15. , 0 1 3 1 7
10. , 7 1 3 2 5
11, , 7 3 6 3 7
12,, 8 5 7 1 9
14, , 0 8 5 0 5
15, , 4 3 0 1 7
10 . 9 7 0 4 4
12,. 0 2 9 0 8
13,. 1 8 9 8 9
14.. 4 6 2 7 2
15.. 8 5 8 3 7
11,. 2 3 3 5 5
12., 3 2 8 8 2
13,. 5 3 0 8 8
14., 8 5 0 1 4
16., 2 9 8 0 3
11.. 5 0 2 7 3
12. , 6 3 5 7 5
13., 8 8 0 3 7
15. , 2 4 7 5 8
16. , 7 4 9 4 7
11,. 7 7 8 1 0
12., 9 5 0 0 2
14,. 2 3 8 5 5
15.. 6 5 5 2 9
17., 2 1 2 9 9
26
27
28
29
30
31
32
33
34
35
14.. 6 6 8 8 2
15.. 9 9 6 3 5
17., 4 4 4 0 2
19., 0 2 2 7 0
2 0 ., 7 4 4 2 5
15,. 0 9 1 6 0
16.. 4 7 2 4 8
17. , 9 7 9 7 1
19.. 6 2 4 8 6
2 1 .. 4 2 0 5 3
15.. 5 2 6 1 6
16. , 9 6 2 3 3
18.53134
2 0 ., 2 4 5 4 9
2 2 .. 1 1 8 2 0
15. , 9 7 2 8 2
17.46628
1 9 ,, 0 9 9 3 8
2 0 ., 8 8 5 1 7
2 2 ., 8 3 7 9 3
16. , 4 3 1 9 1
17. , 9 8 4 7 3
19. , 6 8 4 2 8
2 1 ., 5 4 4 4 5
2 3 ., 5 8 0 4 0
16, , 9 0 3 7 6
18, , 5 1 8 0 6
2 0 ,, 2 8 6 5 4
2 2 ,, 2 2 3 9 0
2 4 ,, 3 4 6 2 8
17.. 3 8 8 7 0
19.. 0 6 6 7 1
2 0 ., 9 0 6 6 5
2 2 .. 9 2 4 1 4
2 5 .. 1 3 6 3 2
17., 8 8 7 0 9
19. , 6 3 1 0 8
2 1 ,, 5 4 5 1 1
2 3 ., 6 4 5 7 6
2 5 ., 9 5 1 2 2
18. , 3 9 9 2 9
2 0 ., 2 1 1 6 2
2 2 ,, 2 0 2 4 7
2 4 ., 3 8 9 4 1
2 6 ., 7 9 1 7 7
18., 9 2 5 6 8
2 0 ., 8 0 8 7 8
2 2 ., 8 7 9 2 6
2 5 ., 1 5 5 7 4
2 7 ., 6 5 8 7 4
31
32
33
34
35
36
37
38
39
40
2 2 ., 6 2 1 6 1
2 4 ., 6 6 8 8 6
2 6 ., 9 0 1 3 9
2 9 ., 3 3 5 9 7
3 1 ., 9 9 0 8 7
2 3 ,. 3 8 0 5 1
2 5 ,. 5 1 9 8 3
2 7 ., 8 5 4 8 9
3 0 .. 4 0 3 6 1
3 3 ,. 1 8 5 5 4
2 4 .. 1 6 4 1 3
2 6 ,. 3 9 9 3 1
2 8 ., 8 4 1 2 5
3 1 .. 5 0 9 0 6
3 4 .. 4 2 3 6 5
2 4 .. 9 7 3 2 8
2 7 .. 3 0 8 2 8
2 9 ., 8 6 1 6 0
3 2 ., 6 5 3 6 6
3 5 ., 7 0 6 7 8
2 5 ,. 8 0 8 7 4
2 8 ,. 2 4 7 6 7
3 0 ., 9 1 7 0 7
3 3 .. 8 3 8 7 3
3 7 .. 0 3 6 4 9
26.67135
2 9 ., 2 1 8 4 7
3 2 ,, 0 0 8 8 3
3 5 ,, 0 6 5 6 7
38.41444
2 7 ,. 5 6 1 9 7
3 0 ,. 2 2 1 7 0
3 3 .. 1 3 8 0 9
3 6 ,. 3 3 5 9 2
3 9 ,. 8 4 2 3 3
2 8 ., 4 8 1 4 6
3 1 ., 2 5 8 4 0
3 4 ., 3 0 6 0 9
3 7 ., 6 5 0 9 4
4 1 ., 3 2 1 9 0
2 9 ., 4 3 0 7 5
3 2 ., 3 2 9 6 8
3 5 ., 5 1 4 1 6
3 9 .. 0 1 2 3 0
4 2 ., 8 5 5 0 1
3 0 ., 4 1 0 7 8
3 3 ., 4 3 6 6 5
3 6 ., 7 6 3 6 0
4 0 ., 4 2 1 5 7
4 4 ., 4 4 3 5 2
36
37
38
39
40
41
42
43
44
45
34, . 8 8 6 0 5
38,. 0 4 3 2 3
41, . 4 8 6 1 4
4 5 .. 2 4 0 6 4
4 9 .. 3 3 4 9 1
36 . 2 2 2 0 2
39, . 5 3 6 3 3
4 3 .. 1 5 3 9 0
4 7 .. 1 0 2 4 8
5 1 .. 4 1 2 3 6
3 7 ,. 6 0 7 8 4
4 1 ,, 0 8 6 5 6
4 4 .. 8 8 7 0 7
4 9 ., 0 3 9 1 2
5 3 ., 5 7 5 2 4
3 9 ,. 0 4 5 3 6
4 2 ,. 6 9 6 1 0
4 6 .. 6 8 8 1 8
5 1 ., 0 5 3 5 2
5 5 ., 8 2 7 0 3
4 0 ,. 5 3 6 4 4
4 4 ,. 3 6 7 1 3
4 8 .. 5 5 9 8 3
5 3 ., 1 4 8 7 3
5 8 .. 1 7 1 2 8
4 2 ., 0 8 3 0 2
4 6 ., 1 0 1 9 5
5 0 ,, 5 0 4 6 9
5 5 ,, 3 2 7 8 8
6 0 ,, 6 1 1 6 9
4 3 ,. 6 8 7 1 2
4 7 ,. 9 0 2 9 2
5 2 .. 5 2 5 5 6
5 7 .. 5 9 4 2 7
6 3 .. 1 5 2 1 2
4 5 .. 3 5 0 7 9
4 9 ,. 7 7 2 4 9
5 4 ., 6 2 5 3 0
5 9 ., 9 5 1 2 7
6 5 ., 7 9 6 5 1
4 7 ,. 0 7 6 2 2
5 1 ,. 7 1 3 2 3
5 6 ., 8 0 6 9 8
6 2 ., 4 0 2 4 7
6 8 ., 5 4 9 1 1
4 8 ,. 8 6 5 6 5
5 3 ,. 7 2 7 7 8
5 9 ,. 0 7 3 6 9
6 4 ., 9 5 1 5 2
7 1 ., 4 1 4 1 9
41
42
43
44
45
46
47
48
49
50
5 3 ,, 7 9 9 7 2
5 8 ,, 6 6 8 6 0
6 3 ., 9 7 8 1 0
6 9 ,. 7 6 8 1 2
7 6 ,. 0 8 2 1 3
5 6 .. 1 1 6 5 9
6 1 .. 2 5 1 2 6
6 6 ., 8 5 5 7 4
7 2 ., 9 7 3 0 4
7 9 ,, 6 5 0 0 7
5 8 ., 5 3 0 9 4
6 3 ., 9 4 5 0 5
6 9 ,, 8 5 9 9 7
7 6 ,, 3 2 2 0 1
8 3 ,, 3 8 1 7 9
6 1 ., 0 4 6 8 5
6 6 ., 7 5 4 7 3
7 2 ,, 9 9 6 2 9
7 9 ,, 8 2 1 4 4
8 7 ., 2 8 4 7 4
6 3 ., 6 6 8 4 7
6 9 ., 6 8 5 1 3
7 6 ,, 2 7 0 3 8
8 3 ., 4 7 7 9 2
9 1 ., 3 6 6 5 8
6 6 ,, 4 0 0 1 1
7 2 ., 7 4 1 3 1
7 9 ., 6 8 8 1 1
8 7 ., 2 9 8 3 2
9 5 ,. 6 3 5 3 0
6 9 ., 2 4 6 2 9
7 5 ., 9 2 8 5 6
8 3 ., 2 5 5 6 6
9 1 ., 2 8 9 8 3
1 0 0 ., 0 9 9 3 0
7 2 ,, 2 1 1 6 7
7 9 ,, 2 5 2 3 0
8 6 ,, 9 7 9 4 0
9 5 ,, 4 5 9 8 9
1 0 4 ,, 7 6 7 2 2
7 5 ,, 3 0 1 1 9
8 2 ,, 7 1 8 3 5
9 0 ., 8 6 6 1 1
9 9 ., 8 1 6 4 2
1 0 9 .. 6 4 8 3 3
7 8 ,, 5 1 9 9 0
8 6 ,, 3 3 2 6 2
9 4 ., 9 2 2 7 2
1 0 4 ., 3 6 7 5 2
1 1 4 ,, 7 5 2 0 8
46
47
48
49
50
51
52
53
54
55
8 2 ,, 9 6 7 5 6
9 0 ,, 4 7 6 1 2
9 8 ,, 6 6 4 2 1
1 0 7 ,, 5 9 3 3 1
1 1 7 ,, 3 3 0 5 1
8 6 ,, 9 3 8 0 5
9 4 ,, 8 9 2 8 8
1 0 3 ,, 5 7 5 5 8
1 1 3 ., 0 5 2 7 4
1 2 3 ,, 3 9 7 0 6
9 1 ,, 0 9 4 6 0
9 9 ,, 5 2 0 8 5
1 0 8 ,, 7 2 6 5 3
1 1 8 ,, 7 8 3 7 2
1 2 9 , ,7.7120
9 5 ,, 4 4 5 8 6
1 0 4 ,, 3 7 0 0 5
1 1 4 ., 1 2 8 6 4
1 2 4 ,, 7 9 9 6 6
1 3 6 ,, 4 6 8 4 3
1 0 0 ., 0 0 0 7 2
1 0 9 ., 4 5 0 7 9
1 1 9 ., 7 9 3 8 8
1 3 1 ., 1 1 4 3 9
1 4 3 ., 5 0 4 6 9
1 0 4 ,. 7 6 8 4 7
1 1 4 ,. 7 7 3 8 6
1 2 5 ,. 7 3 4 7 6
1 3 7 ,. 7 4 2 4 2
1 5 0 ,. 8 9 6 8 2
1 0 9 ., 7 5 8 8 7
1 2 0 ., 3 5 0 6 0
1 3 1 ., 9 6 4 4 3
1 4 4 ., 6 9 8 9 8
1 5 8 ., 6 6 2 4 4
1 1 4 ,. 9 8 2 0 2
1 2 6 ,. 1 9 2 7 6
1 3 8 ,. 4 9 6 5 5
1 5 1 ,. 9 9 9 9 6
1 6 6 ,. 8 1 9 9 4
1 2 0 .. 4 4 8 6 8
1 3 2 .. 3 1 2 8 6
1 4 5 .. 3 4 5 6 7
1 5 9 .. 6 6 2 2 2
1 7 5 ., 3 8 8 9 5
1 2 6 ., 1 6 9 9 1
1 3 8 ., 7 2 3 8 1
1 5 2 ,, 5 2 6 8 2
1 6 7 ,, 7 0 3 2 3
1 8 4 ,, 3 8 9 7 0
51
52
53
54
55
56
57
58
59
60
127.94891
1 3 9 ,. 5 2 8 2 7
1 5 2 ,, 1 5 5 5 9
1 6 5 ,, 9 2 5 6 6
1 8 0 .. 9 4 1 9 2
1 3 4 ,, 6 8 7 8 8
1 4 7 ,. 0 1 1 8 2
1 6 0 ., 4 6 3 4 0
1 7 5 ., 1 4 5 7 8
1 9 1 .• 1 7 1 6 2
1 4 1 ,, 7 7 5 0 3
1 5 4 ,, 8 8 9 2 3
1 6 9 ,, 2 1 6 4 7
1 8 4 ,, 8 6 8 9 8
2 0 1 ., 9 6 9 3 6
1 4 9 ,. 2 2 8 2 2
1 6 3 ,. 1 8 1 0 4
1 7 8 ,, 4 3 8 4 6
1 9 5 ,, 1 2 2 4 6
2 1 3 ,, 3 6 6 4 0
1 5 7 ,, 0 6 5 8 8
1 7 1 ,, 9 0 8 6 1
1 8 8 ,, 1 5 3 9 7
2 0 5 ,, 9 3 4 5 1
2 2 5 ., 3 9 5 3 1
1 6 5 ,, 3 0 7 4 5
1 8 1 ,. 0 9 4 3 2
1 9 8 ,, 3 8 8 8 1
2 1 7 ,, 3 3 4 9 3
2 3 8 ,, 0 9 0 4 2
1 7 3 ,, 9 7 3 3 5
1 9 0 ., 7 6 1 7 7
2 0 9 ., 1 7 0 2 9
2 2 9 ., 3 5 5 2 2
2 5 1 ., 4 8 7 9 9
1 8 3 ,, 0 8 4 8 8
2 0 0 ,,93565
2 2 0 .. 5 2 6 8 7
2 4 2 ,. 0 2 8 2 3
2 6 5 ,. 6 2 5 9 7
1 9 2 ,. 6 6 4 7 4
2 1 1 .,64221
2 3 2 .. 4 8 8 9 7
2 5 5 ,. 3 8 9 1 2
2 8 0 ..54494
2 0 2 ,, 7 3 6 4 6
2 2 2 ,, 9 0 8 7 3
2 4 5 ,, 0 8 8 1 4
2 6 9 ., 4 7 4 3 9
2 9 6 ,, 2 8 7 0 7
56
57
58
59
60
61
62
63
64
65
1 9 7 ,. 3 1 7 1 7
2 1 5 ,. 1 7 4 3 5
2 3 4 ,. 6 4 7 6 2
2 5 5 .. 8 8 3 2 2
2 7 9 ,. 0 4 0 7 5
208.66381
2 2 7 ., 7 5 6 5 6
2 4 8 ,. 5 9 6 2 7
2 7 1 ,. 3 4 2 8 1
2 9 6 ,. 1 7 0 8 0
2 2 0 ,, 6 5 1 5 1
2 4 1 ,, 0 6 1 7 8
2 6 3 ,, 3 5 9 9 7
2 8 7 ,, 7 2 0 7 5
3 1 4 ,.33495
233.31615
2 5 5 ., 1 3 1 1 9
2 7 8 ,. 9 8 5 9 5
3 0 5 ,.07112
3 3 3 ,.59536
2 4 6 ,, 6 9 5 1 5
2 7 0 ., 0 0 7 8 4
2 9 5 ,. 5 2 3 5 8
3 2 3 ,.45054
3 5 4 ,.01653
2 6 0 ,. 8 2 8 0 3
2 8 5 ,. 7 3 7 1 0
3 1 3 ,,02498
3 4 2 ,.91886
3 7 5 ,.66759
2 7 5 ,, 7 5 6 5 7
3 0 2 ., 3 6 7 0 7
3 3 1 .. 5 4 5 4 8
3 6 3 ,. 5 3 9 6 1
3 9 8 ,. 6 2 1 1 6
2 9 1 ,, 5 2 4 4 8
3 1 9 ,. 9 4 8 1 1
3 5 1 ,,14304
3 8 5 ,.37946
4 2 2 ,.95390
3 0 8 ,, 1 7 8 6 0
3 3 8 ,, 5 3 4 1 7
3 7 1 .,87976
4 0 8 ,,50990
4 4 8 ,.74804
3 2 5 ., 7 6 7 6 3
3 5 8 ., 1 8 1 4 8
3 9 3 ., 8 2 0 5 3
4 3 3 ., 0 0 5 6 5
4 7 6 ., 0 8 9 8 8
61
62
63
64
65
66
67
68
69
70
3 0 4 ,. 2 9 3 9 2
3 3 1 .>83252
3 6 1 .,86335
394. 61197
4 3 0 .,32435
323.27043
3 5 2 ,.84968
3 8 5 ,.13540
4 2 0 ,.37527
4 5 8 ,.83960
343.41092
3 7 5 ,,17643
409.88024
4 4 7 ,.79414
4 8 9 ,.21508
364.78651
3 9 8 ,.89403
4 3 6 ,.19061
4 7 6 ,.97442
5 2 1 ,.57149
3 8 7 ,.47106
4 2 4 ,.08706
4 6 4 ,.16330
5 0 8 ,.02670
5 5 6 ,.03518
4 1 1 ,.54384
4 5 0 .,84626
4 9 3 .,90206
5 4 1 .,06969
5 9 2 .,74181
437.08811
4 7 9 ,,26710
5 2 5 ,.51636
5 7 6 ,.22864
6 3 1 ,.83469
4 6 4 ,.19188
5 0 9 ,.45055
5 5 9 .,12196
6 1 3 .,63633
6 7 3 .,46583
4 9 2 ,.94969
5 4 1 ,.50520
5 9 4 ..84344
6 5 3 .,43549
7 1 7 .,79886
5 2 3 ,, 4 6 0 7 9
5 7 5 ,, 5 4 5 1 1
6 3 2 .,81184
6 9 5 ,,77659
7 6 5 ,,00632
66
67
68
69
70
.61975
.85946
.12110
.40668
.71839
.11853
.49949
.91570
.37040
.86716
.17926
.57002
.99732
.46457
.97551
125
TABLE A2. COMPOUND INTEREST RATE TABLE-CONTINUED
(Amount of 1 at compound interest)
GROWTH RATE (PERCENT) -
Year
Year
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
5
1.00000
1.00000
1.00000
1.00000
1.00000
1.00100
1.00200
1.00300
1.00401
1.00501
1.00200
1.00400
1.00601
1.00802
1.01004
1.00300
1.00601
1.00903
1.01205
1.01509
1.00400
1.00802
1.01205
1.01610
1.02016
1.00500
1.01002
1.01508
1.02015
1.02525
1.00600
1.01204
1.01811
1.02422
1.03036
1.00700
1.01405
1.02115
1.02830
1.03549
1.00800
1.01606
1.02419
1.03239
1.04065
1.00900
1.01808
1.02724
1.03649
1.04582
1
2
3
4
5
6
7
8
9
10
1.00000
1.00000
1.00000
1.00000
1.00000
1.00601
1.00702
1.00803
1.00904
1.01004
1.01206
1.01408
1.01611
1.01814
1.02018
1.01814
1.02119
1.02425
1.02733
1.03041
1.02424
1.02834
1.03245
1.03658
1.04073
1.03038
1.03553
1.04071
1.04591
1.05114
1.03654
1.04276
1.04902
1.05531
1.06165
1.04274
1.05004
1.05739
1.06479
1.07225
1.04897
1.05736
1.06582
1.07435
1.08294
1.05523
1.06473
1.07431
1.08398
1.09373
6
7
8
9
10
11
12
13
14
15
1.00000
1.00000
1.00000
1.00000
1.00000
1.01105
1.01207
1.01308
1.01409
1.01511
1.02222
1.02427
1.02631
1.02837
1.03042
1.03350
1.03660
1.03971
1.04283
1.04596
1.04489
1.04907
1.05327
1.05748
1.06171
1.05640
1.06168
1.06699
1.07232
1.07768
1.06802
1.07442
1.08087
1.08736
1.09388
1.07975
1.08731
1.09492
1.10259
1.11030
1.09161
1.10034
1.10914
1.11801
1.12696
1.10358
1.11351
1.12353
1.13364
1.14385
11
12
13
14
15
16
17
18
19
20
1.00000
1.00000
1.00000
1.00000
1.00000
1.01612
1.01714
1.01815
1.01917
1.02019
1.03248
1.03455
1.03662
1.03869
1.04077
1.04909
1.05224
1.05540
1.05857
1.06174
1.06596
1.07022
1.07450
1.07880
1.08311
1.08307
1.08849
1.09393
1.09940
1.10490
1.10044
1.10705
1.11369
1.12037
1.12709
1.11808
1.12590
1.13378
1.14172
1.14971
1.13597
1.14506
1.15422
1.16346
1.17276
1.15414
1.16453
1.17501
1.18558
1.19625
16
17
18
19
20
1
2
3
1.0
1.1
1.2
1.3
1.4
1.5
1
2
3
4
5
1.01000
1.02010
1.03030
1.04060
1.05101
1.01100
1.02212
1.03336
1.04473
1.05622
1.01200
1.02414
1.03643
1.04887
1.06146
1.01300
1.02617
1.03951
1.05302
1.06671
1.01400
1.02820
1.04259
1.05719
1.07199
1.01500
1.03022
1.04568
1.06136
1.07728
1.01600
1.03226
1.04877
1.06555
1.08260
6
7
8
9
10
1.06152
1.07214
1.08286
1.09369
1.10462
1.06784
1.07959
1.09146
1.10347
1.11561
1.07419
1.08709
1.10013
1.11333
1.12669
1.08058
1.09463
1.10886
1.12327
1.13787
1.08700
1.10221
1.11764
1.13329
1.14916
1.09344
1.10984
1.12649
1.14339
1.16054
11
12
13
14
15
1.11567
1.12682
1.13809
1.14947
1.16097
1.12788
1.14029
1.15283
1.16551
1.17833
1.14021
1.15389
1.16774
1.18175
1.19594
1.15267
1.16765
1.18283
1.19821
1.21378
1.16525
1.18156
1.19810
1.21487
1.23188
16
17
18
19
20
1.17258
1.18430
1.19615
1.20811
1.22019
1.19129
1.20440
1.21765
1.23104
1.24458
1.21029
1.22481
1.23951
1.25438
1.26943
1.22956
1.24555
1.26174
1.27814
1.29476
1.24913
1.26662
1.28435
1.30233
1.32056
2.0
2.1
2.2
2.3
2.4
1
o
3
4
5
1.02000
1.04040
1.06121
1.08243
i.10408
1.02100
1.04244
1.06433
1.08668
1.10950
1.02200
1.04448
1.06746
1.09095
1.11495
1.02300
1.04653
1.07060
1.09522
1.12041
1.02400
1.04858
1.07374
1.09951
1.12590
6
7
8
9
10
1.12616
1.14869
1.17166
1.19509
1.21899
1.13280
1.15659
1.18088
1.20568
1.23100
1.13948
1.16454
1.19016
1.21635
1.24311
1.14618
1.17254
1.19951
1.22710
1.25533
11
12
13
14
15
1.24337
1.26824
1.29361
1.31948
1.34587
1.25685
1.28324
1.31019
1.33771
1.36580
1.27046
1.29841
1.32697
1.35616
1.38600
16
17
18
19
20
1.37279
1.40024
1.42825
1.45681
1.48595
1.39448
1.42376
1.45366
1.48419
1.51536
1.41649
1.44765
1.47950
1.51205
1.54532
126
1.8
1.9
1.01700
1.03429
1.05187
1.06975
1.08794
1.01800
1.03632
1.05498
1.07397
1.09330
1.01900
1.03836
1.05809
1.07819
1.09868
1
2
3
4
5
1.09992
1.11752
1.13540
1.15357
1.17203
1.10643
1.12524
1.14437
1.16383
1.18361
1.11298
1.13301
1.15341
1.17417
1.19530
1.11955
1.14083
1.16250
1.18459
1.20710
6
7
8
9
10
1.17795
1.19562
1.21355
1.23176
1.25023
1.19078
1.20983
1.22919
1.24885
1.26884
1.20373
1.22420
1.24501
1.26617
1.28770
1.21682
1.23872
1.26102
1.28372
1.30682
1.23003
1.25340
1.27722
1.30148
1.32621
11
12
13
14
15
1.26899
1.28802
1.30734
1.32695
1.34685
1.28914
1.30976
1.33072
1.35201
1.37364
1.30959
1.33185
1.35449
'1.37752
1.40094
1.33035
1.35429
1.37867
1.40348
1.42875
1.35141
1.37709
1.40325
1.42991
1.45708
16
17
18
19
20
2.6
2.7
2.8
2.9
1.02500
1.05062
1.07689
1.10381
1.13141
1.02600
1.05268
1.08005
1.10813
1.13694
1.02700
1.05473
1.08321
1.11245
1.14249
1.02800
1.05678
1.08637
1.11679
1.14806
1.02900
1.05884
1.08955
1.12114
1.15366
1
2
3
4
5
1.15292
1.18059
1.20893
1.23794
1.26765
1.15969
1.18869
1.21840
1.24886
1.28008
1.16650
1.19683
1.22794
1.25987
1.29263
1.17334
1.20502
1.23755
1.27097
1.30528
1.18021
1.21325
1.24723
1.28215
,1.31805
1.18711
1.22154
1.25696
1.29342
1.33093
6
7
8
9
10
1.28420
1.31373
1.34395
1.37486
1.40648
1.29807
1.32923
1.36113
1.39380
1.42725
1.31209
1.34489
1.37851
1.41297
1.44830
1.32624
1.36072
1.39610
1.43240
1.46964
1.34052
1.37672
1.41389
1.45207
1.49127
1.35495
1.39289
1.43189
1.47199
1.51320
1.36952
1.40924
1.45011
1.49216
1.53543
11
12
13
14
15
1.43883
1.47192
1.50578
1.54041
1.57584
1.46150
1.49658
1.53250
1.56927
1.60694
1.48451
1.52162
1.55966
1.59865
1.63862
1.50785
1.54705
1.58728
1.62854
1.67089
1.53154
1.57289
1.61535
1.65897
1.70376
1.55557
1.59913
1.64390
1.68993
1.73725
1.57996
1.62578
1.67293
1.72144
1.77136
16
17
18
19
20
2.5
1.7
1.6
,
TABLE A2. COMPOUND INTEREST RATE TABLE - CONTINUED
(Amount of 1 at compound interest)
GROWTH RATE (PERCENT) -
Year
Year
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9
5
1.03000
1.06090
1.09273
1.12551
1.15927
1.03100
1.06296
1.09591
1.12989
1.16491
1.03200
1.06502
1.09910
1.13428
1.17057
1.03300
1.06709
1.10230
1.13868
1.17626
1.03400
1.06916
1.10551
1.14309
1.18196
1.03500
1.07122
1.10872
1.14752
1.18769
1.03600
1.07330
1.11193
1.15196
1.19343
1.03700
1.07537
1.11516
1.15642
1.19921
1.03800
1.07744
1.11839
1.16089
1.20500
1.03900
1.07952
1.12162
1.16537
1.21081
1
2
3
4
5
6
7
8
9
10
1.19405
1.22987
1.26677
1.30477
1.34392
1.20102
1.23826
1.27664
1.31622
1.35702
1.20303
1.24669
1.28658
1.32775
1.37024
1.21507
1.25517
1.29659
1.33938
1.38358
1.22215
1.26370
1.30667
1.35109
1.39703
1.22926
1.27228
1.31681
1.36290
1.41060
1.23640
1.28091
1.32702
1.37479
1.42429
1.24358
1.28959
1.33730
1.38678
1.43809
1.25079
1.29832
1.34766
1.39887
1.45202
1.25804
1.30710
1.35808
1.41104
1.46607
6
7
8
9
10
11
12
13
14
15
1.38423
1.42576
1.46853
1.51259
1.55797
1.39909
1.44246
1.48718
1.53328
1.58081
1.41409
1.45934
1.50604
1.55423
1.60397
1.42923
1.47640
1.52512
1.57545
1.62744
1.44453
1.49364
1.54443
1.59694
1.65123
1.45997
1.51107
1.56396
1.61869
1.67535
1.47556
1.52868
1.58371
1.64073
1.69979
1.49130
1.54648
1.60370
1.66304
1.72457
1.50720
1.56447
1.62392
1.68563
1.74969
1.52325
1.58266
1.64438
1.70851
1.77514
11
12
13
14
15
16
17
18
19
20
1.60471
1.65285
1.70243
1.75351
1.80611-
1.62982
1.68034
1.73243
1.78614
1.84151
1.65529
1.70826
1.76293
1.81934
1.87756
1.68114
1.73662
1.79393
1.85313
1.91428
1.70737
1.76542
1.82545
1.88751
1.95169
1.73399
1.79468
1.85749
1.92250
1.98979
1.76099
1.82438
1.89006
1.95810
2.02859
1.78838
1.85455
1.92317
1.99433
2.06812
1.81617
1.88519
1.95683
2.03119
2.10837
1.84437
1.91630
1.99104
2.06869
2.14937
16
17
18
19
20
4.0
4.1
4.2
4.3
4.4
4.5
1
2
3
4
5
1.04000
1.08160
1.12486
1.16986
1.21665
1.04100
1.08368
1.12811
1.17436
1.22251
1.04200
1.08576
1.13137
1.17888
1.22840
1.04300
1.08785
1.13463
1.18342
1.23430
1.04400
1.08994
1.13789
1.18796
1.24023
1.04500
1.09202
1.14117
1.19252
1.24618
1.04600
1.09412
1.14445
1.19709
1.25216
6
7
8
9
10
1.26532
1.31593
1.36857
1.42331
1.48024
1.27264
1.32481
1.37913
1.43568
1.49454
1.27999
1.33375
1.38977
1.44814
1.50896
1.28738
1.34273
1.40047
1.46069
1.52350
1.29480
1.35177
1.41125
1.47334
1.53817
1.30226
1.36086
1.42210
1.48609
1.55297
11
12
13
14
15
1.53945
1.60103
1.66507
1.73168
1.80094
1.55582
1.61960
1.68601
1.75513
1.82709
1.57233
1.63837
1.70718
1.77889
1.85360
1.58901
1.65734
1.72861
1.80294
1.88046
1.60585
1.67651
1.75028
1.82729
1.90769
16
17
18
19
20
1.87298
1.94790
2.02582
2.10685
2.19112
1.90200
1.97999
2.06117
2.14567
2.23365
1.93145
2.01257
2.09710
2.18518
2.27695
1.96132
2.04566
2.13362
2.22537
2.32106
1.99163
2.07926
2.17074
2.26626
2.36597
1
2
3
4.6
4.8
4.9
1.04700
1.09621
1.14773
1.20167
1.25815
1.04800
1.09830
1.15102
1.20627
1.26417
1.04900
1.10040
1.15432
1.21088
1.27022
1
2
3
4
5
1.30975
1.37000
1.43302
1.49894
1.56789
1.31729
1.37920
1.44402
1.51189
1.58295
1.32485
1.38845
1.45509
1.52494
1.59813
1.33246
1.39775
1.46624
1.53808
1.61345
6
7
8
9
10
1.62285
1.69588
1.77220
1.85194
1.93528
1.64002
1.71546
1.79437
1.87691
1.96325
1.65735
1.73524
1.81680
1.90219
1.99159
1.67484
1.75524
1.83949
1.92778
2.02032
1.69251
1,77544
1.86244
1.95369
2.04943
11
12
13
14
15
2.02237
2.11338
2.20848
2.30786
2.41171
2.05356
2.14802
2.24683
2.35018
2.45829
2.08520
2.18320
2.28581
2.39324
2.50573
2.11729
2.21892
2.32543
2.43705
2.55403
2.14985
2.25519
2.36569
2.48161
2.60321
16
17
18
19
20
5.0
5.1
5.2
5.3
5.4
5.5
1
2
3
4
5
1.05000
1.10250
1.15762
1.21551
1.27628
1.05100
1.10460
1.16094
1.22014
1.28237
1.05200
1*10670
1.16425
1.22479
1.28848
1.05300
1.10881
1.16758
1.22946
1.29462
1.05400
1.11092
1.17091
1.23413
1.30078
1.05500
1.11302
1.17424
1.23882
1.30696
1.05600
1.11514
1.17758
1.24353
1.31317
6
7
8
9
10
1.34010
1.40710
1.47746
1.55133
1.62889
1.34777
1.41651
1.48875
1.56468
1.64447
1.35548
1.42597
1.50012
1.57813
1.66019
1.36323
1.43548
1.51157
1.59168
1.67604
1.37102
1.44505
1.52309
1.60533
1.69202
1.37884
1.45468
1.53469
1.61909
1.70814
11
12
13
14
15
1.71034
1.79586
1.88565
1.97993
2.07893
1.72834
1.81649
1.90913
2.00649
2.10883
1.74652
1.83734
1.93288
2.03339
2.13912
1.76487
1.85841
1.95690
2.06062
2.16983
1.78339
1.87969
1.98120
2.08818
2.20094
16
17
18
19
20
2.18287
2.29202
2.40662
2.52695
2.65330
2.21638
2.32941
2.44821
2.57307
2.70430
2.25036
2.36738
2.49048
2.61999
2.75622
2.28483
2.40593
2.53344
2.66771
2.80910
2.31980
2.44506
2.57710
2.71626
2.86294
2 3 0 - 1 9 3 O - 66 - 9
4.7
5.6
5.7
5.8
5.9
1.05700
1.11725
1.18093
1.24825
1.31940
1.05800
1.11936
1.18429
1.25298
1.32565
1.05900
1.12148
1.18765
1.25772
1.33192
1
2
3
4
5
1.38670
1.46436
1.54636
1.63296
1.72440
1.39460
1,47409
1.55812
1.64693
1.74080
1.40254
1.48388
1.56995
1.66100
1.75734
1.41051
1.49373
1.58186
1.67519
1.77402
6
7
8
9
10
1.80209
1.90121
2.00577
2.11609
2.23248
1.82097
1.92295
2.03063
2.14435
2.26443
1.84003
1.94491
2.05577
2.17295
2.29681
1.85927
1.96711
2.08120
2.20191
2.32962
1.87869
1.98953
2.10692
2.23122
2.36287
11
12
13
14
15
2.35526
2.48480
2.62147
2.76565
2.91776
2.39124
2.52515
2.66655
2.81588
2.97357
2.42773
2.56611
2.71237
2.86698
3.03040
2,46474
2.60769
2.75894
2.91896
3.08826
2.50228
2.64991
2.80625
2.97182
3.14716
16
17
18
19
20
127
TABLE A2. COMPOUND INTEREST RATE TABLE - CONTINUED
(Amount of 1 at compound interest)
GROWTH RATE (PERCENT) -
Year
Year
6.0
6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8
6.9
1
2
3
4
5
1.06000
1.12360
1.19102
1.26248
1.33823
1.06100
1.12572
1.19439
1.26725
1.34455
1.06200
1.12784
1.19777
1.27203
1.35090
1.06300
1.12997
1.20116
1.27683
1.35727
1.06400
1.13210
1.20455
1.28164
1.36367
1.06500
1.13422
1.20795
1.28647
1.37009
1.06600
1.13636
1.21136
1.29130
1.37653
1.06700
1.13849
1.21477
1.29616
1.38300
1.06800
1.14062
1.21819
1.30102
1.38949
1.06900
1.14276
1.22161
1.30590
1.39601
1
2
3
4
5
6
7
8
9
iO
1.41852
1.50363
1.59385
1.68948
1.79085
1.42657
1.51359
1.60592
1.70388
1.80781
1.43465
1.52360
1.61807
1.71839
1.82493
1.44278
1.53367
1.63029
1.73300
1.84218
1.45094
1.54380
1.64260
1.74773
1.85959
1.45914
1.55399
1.65500
1.76257
1.87714
1.46738
1.56423
1.66747
1.77752
1.89484
1.47566
1.57453
1.68002
1.79258
1.91269
1.48398
1.58489
1.69266
1.80776
1.93069
1.49233
1.59531
1.70538
1.82305
1.94884
6
7
8
9
10
11
12
13
14
15
1.89830
2.01220
2.13293
2.26090
2.39656
1.91809
2.03509
2.15923
2.29095
2.43070
1.93807
2.05823
2.18584
2.32136
2.46529
1.95824
2.08161
2.21275
2.35215
2.50034
1.97860
2.10523
2.23996
2.38332
2.53585
1.99915
2.12910
2.26749
2.41487
2.57184
2.01990
2.15321
2.29532
2.44681
2.60830
2.04084
2.17757
2.32347
2.47914
2.64525
2.06198
2.20219
2.35194
2.51187
2.68268
2.08331
2.22706
2.38073
2.54500
2.72060
11
12
13
14
15
16
17
18
19
20
2.54035
2.69277
2.85434
3.02560
3.20713
2.57897
2.73628
2.90320
3.08029
3.26819
2.61814
2.78046
2.95285
3.13592
3.33035
2.65786
2.82530
3.00330
3.19251
3.39363
2.69815
2.87083
3.05456
3.25006
3.45806
2.73901
2.91705
3.10665
3.30859
3.52364
2.78045
2.96396
3.15958
3.36811
3.59041
2.82248
3.01158
3.21336
3.42866
3.65837
2.86510
3.05993
3.26800
3.49023
3.72756
2.90833
3.10900
3.32352
3.55284
3.79799
16
17
18
19
20
7.0
7.1
7.2
7.3
7.4
7.5
7.6
7.7
7.8
7.9
1
2
3
4
5
1.07000
1.14490
1.22504
1.31080
1.40255
1.07100
1.14704
1.22848
1.31570
1.40912
1.07200
1.14918
1.23193
1.32062
1.41571
1.07300
1.15133
1.23538
1.32556
1.42232
1.07400
1.15348
1.23883
1.33051
1.42896
1.07500
1.15562
1.24230
1.33547
1.43563
1.07600
1.15778
1.24577
1.34045
1.44232
1.07700
1.15993
1.24924
1.34544
1.44903
1.07800
1.16208
1.25273
1.35044
1.45577
1.07900
1.16424
1.25622
1.35546
1.46254
1
2
3
4
5
6
7
8
9
10
1.50073
1.60578
1.71819
1.83846
1.96715
1.50917
1.61632
1.73107
1.85398
1.98561
1.51764
1.62691
1.74405
1.86962
2.00423
1.52615
1.63756
1.75710
1.88537
2.02301
1.53471
1.64828
1.77025
1.90125
2.04194
1.54330
1.65905
1.78348
1.91724
2.06103
1.55194
1.66988
1.79679
1.93335
2.08028
1.56061
1.68078
1.81020
1.94958
2.09970
1.56932
1.69173
1.82369
1.96593
2.11928
1.57808
1.70275
1.83726
1.98241
2.13902
6
7
8
9
10
11
12
13
14
15
2.10485
2.25219
2.40984
2.57853
2.75903
2.12659
2.27758
2.43929
2.61248
2.79796
2.14854
2.30323
2.46906
2.64683
2.83741
2.17069
2.32915
2.49917
2.68161
2.87737
2.19304
2.35533
2.52962
2.71681
2.91786
2.21561
2.38178
2.56041
2.75244
2.95888
2.23839
2.40850
2.59155
2.78851
3.00043
2.26138
2.43550
2.62303
2.82501
3.04253
2.28458
2.46278
2.65487
2.86195
3.08519
2.30800
2.49033
2.68707
2.89935
3.12839
11
12
13
14
15
16
17
18
19
20
2.95216
3.15881
3.37993
3.61653
3.86968
2.99662
3.20938
3.43724
3.68129
3.94266
3.04170
3.26070
3.49547
3.74715
4.01694
3.08742
3.31280
3.55463
3.81412
4.09255
3.13378
3.36568
3.61474
3.88223
4.16951
3.18079
3.41935
3.67580
3.95149
4.24785
3.22847
3.47383
3.73784
4.02192
4.32758
3.27681
3.52912
3.80087
4.09353
4.40873
3.32583
3.58524
3.86489
4.16635
4.49133
3.37554
3.64221
3.92994
4.24040
4.57540
16
17
18
19
20
8.0
8.1
8.2
8.3
8.4
8.5
8.6
8.7
8.8
8.9
1
2
3
4
5
1.08000
1.16640
1.25971
1.36049
1.46933
1.08100
1.16856
1.26321
1.36553
1.47614
1.08200
1.17072
1.26672
1.37059
1.48298
1.08300
1.17289
1.27024
1.37567
1.48985
1.08400
1.17506
1.27376
1.38076
1.49674
1.08500
1.17722
1.27729
1.38586
1.50366
1.08600
1.17940
1.28082
1.39097
1.51060
1.08700
1.18157
1.28437
1.39611
1.51757
1.08800
1.18374
1.28791
1.40125
1.52456
1.08900
1.18592
1.29147
1.40641
1.53158
1
2
3
4
5
6
7
8
9
10
1.58687
1.71382
1.85093
1.99900
2.15892
1.59571
1.72496
1.86468
2.01572
2.17900
1.60459
1.73616
1.87853
2.03257
2.19924
1.61351
1.74743
1.89246
2.04954
2.21965
1.62247
1.75875
1.90649
2.06663
2.24023
1.63147
1.77014
1.92060
2.08385
2.26098
1.64051
1.78159
1.93481
2.10120
2.28191
1.64959
1.79311
1.94911
2.11868
2.30301
1.65872
1.80469
1.96350
2.13629
2.32428
1.66789
1.81633
1.97798
2.15403
2.34573
6
7
8
9
10
11
12
13
14
15
2.33164
2.51817
2.71962
2.93719
3.17217
2.35550
2.54629
2.75254
2.97550
3.21651
2.37958
2.57470
2.78583
3.01427
3.26143
2.40388
2.60340
2.81948
3.05350
3.30694
2.42841
2.63240
2.85352
3.09321
3.35304
2.45317
2.66169
2.88793
3.13340
3.39974
2.47815
2.69127
2.92272
3.17408
3.44705
2.50337
2.72116
2.95790
3.21524
3.49497
2.52882
2.75135
2.99347
3.25690
3.54351
2.55450
2.78185
3.02944
3.29906
3.59268
11
12
13
14
15
16
17
18
19
20
3.42594
3.70002
3.99602
4.31570
4.66095
3.47705
3.75869
4.06314
4.39226
4.74803
3.52887
3.81824
4.13134
4.47010
4.83665
3.58142
3.87868
4.20061
4.54926
4.92684
3.63470
3.94001
4.27097
4.62973
5.01863
3.68872
4.00226
4.34245
4.71156
5.11204
3.74349
4.06543
4.41506
4.79475
5.20710
3.79903
4.12954
4.48881
4.87934
5.30384
3.85533
4.19460
4.56373
4.96534
5.40229
3.91242
4.26063
4.63982
5.05277
5.50247
16
17
18
19
20
Digitized 128
for FRASER
TABLE A2. COMPOUND INTEREST RATE TABLE - CONTINUED
(Amount of 1 at compound interest)
GROWTH RATE (PERCENT) -
year
Year
9.0
9.1
9.2
9.3
9.4
9.5
9.6
9.7
9.8
9.9
1
2
3
4
5
1.09000
1.18810
1.29503
1.41158
1.53862
1.09100
1.19028
1.29860
1.41677
1.54569
1.09200
1.19246
1.30217
1.42197
1.55279
1.09300
1.19465
1.30575
1.42719
1.55991
1.09400
1.19684
1.30934
1.43242
1.56706
1.09500
1.19902
1.31293
1.43766
1.57424
1.09600
1.20122
1.31653
1.44292
1.58144
1.09700
1.20341
1.32014
1.44819
1.58867
1.09800
1.20560
1.32375
1.45348
1.59592
1.09900
1.20780
1.32737
1.45878
1.60320
1
2
3
4
5
6
7
8
9
10
1.67710
1.82804
1.99256
2.17189
2.36736
1.68635
1.83981
2.00723
2.18989
2.38917
1.69565
1.85165
2.02200
2.20802
2.41116
1.70499
1.86355
2.03686
2.22629
2.43333
1.71437
1.87552
2.05182
2.24469
2.45569
1.72379
1.88755
2.06687
2.26322
2.47823
1.73326
1.89965
2.08202
2.28189
2.50095
1.74277
1.91182
2.09726
2.30070
2.52386
1.75232
1.92405
2.11261
2.31964
2.54697
1.76192
1.93635
2.12805
2.33872
2.57026
6
7
8
9
10
11
12
13
14
15
2.58043
2.81266
3.06580
3.34173
3.64248
2.60659
2.84379
3.10257
3.38490
3.69293
2.63299
2.87522
3.13974
3.42860
3.74403
2.65963
2.90698
3.17733
3.47282
3.79579
2.68652
2.93905
3.21533
3.51757
3.84822
2.71366
2.97146
3.25374
3.56285
3.90132
2.74104
3.00418
3.29258
3.60867
3.95510
2.76868
3.03724
3.33185
3.65504
4.00958
2.79657
3.07063
3.37155
3.70197
4.06476
2.82471
3.10436
3.41169
3.74945
4.12064
11
12
13
14
15
16
17
18
19
20
3.97030
4.32763
4.71712
5.14166
5.60441
4.02899
4.39562
4.79562
5.23203
5.70814
4.08848
4.46462
4.87537
5.32390
5.81370
4.14880
4.53464
4.95636
5.41730
5.92111
4.20995
4.60568
5.03862
5.51225
6.03040
4 27194
4.67778
5.12217
5.60877
6.14161
4.33479
4.75093
5.20702
5.70690
6.25476
4.39851
4.82517
5.29321
5.80665
6.36989
4.46311
4.90049
5.38074
5.90805
6.48704
4.52859
4.97692
5.46963
6.01113
6.60623
16
17
18
19
20
129
APPENDIX 2. SERIES DESCRIPTIONS AND SOURCES
Series A l to A3; A7, A8, A l l , and A12
Gross National Product and Per Capita Gross National
Product in 1929 and 1958 Dollars
Gross national product (GNP) as defined by the Department
of Commerce (series A2), i s the market value of the output
of f i n a l goods and services produced by the Nation's economy
(i.e., by the labor and property supplied by residents of the
Nation) before deduction of allowances for capital consumption.
GNP measures this output in t e r m s of the expenditures by which
final goods are acquired by the ultimate consumers and the
addition to business inventories. These expenditures are the
sum of four major items: (1) Personal consumption expenditures (series A24), (2) gross private domestic investment,
which includes the addition to business inventories (series A28),
(3) net exports of goods and services (series A32), and (4)
government purchases of goods and services (series A34).
In order to eliminate the effects of price changes and
measure the changes in the physical volume of output, the
Department of Commerce calculates GNP in constant dollars.
In general, the constant-dollar series are derived by dividing
the c u r r e n t - d o l l a r estimates, in as fine a product breakdown
as possible, by appropriate price indexes based on 1958 as 100,
in order to eliminate f r o m the c u r r e n t - d o l l a r estimates a l l
p r i c e changes as compared w i t h 1958. GNP in current dollars
is also shown as series A8.
The Kuznets-Kendrick series ( A l ) in 1929 dollars and A7 in
c u r r e n t dollars) are also on the Department of Commerce
conceptual basis. (Kendrick adjusted the Kuznets estimates to
conform with the Commerce concept as i t existed before the
revision explained in the August 1965 Survey of Current Business. The figures published i n this r e p o r t are those published
by Kendrick with no further attempt at conceptual comparability.) Kendrick has adjusted the Kuznets Variant I I I GNP
estimates as follows: Direct government services to consumers were subtracted f r o m , and the imputed services of
financial intermediaries were added to Kuznets' flow of goods;
public construction, public purchases of durable equipment
(including munitions), and the net change in inventories of
monetary metals were subtracted f r o m his gross capital
formation; and total government purchases of goods and
services were added to Kuznets' private purchases of goods
and services.
These adjustments werenecessary in order to bring Kuznets'
'GNP estimates more into line with the Department of Commerce
concept of national product. The p r i n c i p a l difference between
the concepts underlying the Kuznets and Commerce estimates
affects the classification of products as final or intermediate.
Kuznets defines as final products a l l goods and services which
contribute to a socially determined set of goals; that is, goods
and services which satisfy the wants of individual consumers,
both present and future.
The Department of Commerce definition of a final product,
on the other hand, r e l i e s on "operational r u l e s " whereby the
business accounting practices followed determine whether a
product or service is classified as an intermediate cost o r a
final sale.
For example, a final product is a purchase that
is not resold or charged to c u r r e n t operating cost, whereas, a
purchase that is resold or charged to current cost is an i n t e r mediate purchase o r product.
This conceptual difference between the delineation of final
and intermediate products results in estimates which d i f f e r
principally in the government sector of the economy. Kuznets
includes only those government services and products which
he judged to be of d i r e c t benefit to consumers, whereas, the
Commerce Department includes a l l goods not resold.
Per capita GNP (series A l l and A12) is based on both of the
constant-dollar GNP series discussed above (series A l and
A2) and the total population of the United States (series A106).
The Kuznets Variant I GNP estimates (series A3) are
conceptually the same as his estimates described above, but
d i f f e r f r o m his other variants in the statistics used to derive
the service component of flow of goods to consumers. In Variant
I, this component has been approximated by subtracting
estimates of cost of commodities to consumers and net capital
formation f r o m independently derived estimates of national i n come (which appeared i n Kuznets' National Income and Its
Composition, 1919-1938, NBER) and was extrapolated f o r w a r d
f r o m the 1930's by appropriate items in the Commerce national
income accounts. Variant III incorporates Commerce Department estimates of this component beginning with 1929 and is
extrapolated back to 1919 using certain components of both
Variants I and II.
F o r the period 1889 to 1908, the data are Kuznets' 5-year
moving averages of underlying annual estimates "which tend
to cancel the s h o r t - t e r m fluctuations while s t i l l revealing the
underlying secular movements and any longer swings in them
with sufficient accuracy."
The author incorporated e a r l i e r work at the National Bureau
of Economic Research in deriving the 1909 to 1918 data and
believes they "are probably subject to a wider margin of e r r o r
than those for the years beginning with 1919." Data before 1889
"did not seem sufficiently reliable" to Kuznets as an annual
measure and so his overlapping decade averages at 5-year
intervals are presented.
There is some controversy over the high rate of growth of
GNP i n the f i r s t decade of Kuznets' estimates (series A3) and
Kendrick's adjustments to the Commerce concept (series A l ) .
Kuznets recognized that the census of manufactures was understated i n 1869 relative to 1879 by 5 to 13 percent but made no
adjustment since the effect on decade averages would be f a i r l y
small. Some investigators prefer a more conservative estimate
of the decade increase. M i l t o n Friedman (in "Monetary Data
and National Income Estimates," Economic Development and
Cultural Change, A p r i l 1961), using data for certain money
stock components, has estimated that the understatement may
have been as high as 18 to 22 percent. Also, Neal Potter and
Francis T. C h r i s t y (in Trends in Natural Resource Commodities, Resources for the Future, Inc.) interpolated annual
data between Kuznets' 10-year figures using a commodity output index. Potter and C h r i s t y estimate the 1870 to 1880 increase in GNP as 70 percent as opposed to the 120 percent in
Kuznets' estimates. For this period, the authors have evaluated
various industry percentage increases in output and the percent
distribution of the labor force.
Sources: Series A l and A7 are f r o m John W. Kendrick, P r o ductivity Trends in the United States, National Bureau of
Economic Research. Series A2 and A8 are f r o m the Survev of
131
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Current Business,U.S. Department of Commerce, Office of
Business Economics. F o r series A l l and A12, see also the
population series, A106. Series A3 is f r o m Simon Kuznets,
Capital in the A m e r i c a n Economy, Its Forniation and Financing,
National Bureau of Economic Research.
F o r additional
discussions of concepts of national income accounting s e e , ^
Critique of the U.S. Income and Product Accounts, Studies in
Income and Wealth, Volume XXII, National Bureau of Econom i c Research; and National Income, 1954, U.S. Income and
Output, 1958, and the Survey of Current Business, August 1965,
a l l published by the Office of Business Economics.
Series A4 and A5
Potential Gross National Product in 1958 and 1954 Dollars
These potential GNP measures are estimates of the volume
of goods and services (adjusted for price changes) which the
economy could o r d i n a r i l y produce each year at assumed high
levels of employment and capital utilization.
Knowles describes potential
capacity output as follows:
output and its relation to
" I n a host of ways, therefore, the maximum output of the
economy is flexible over a considerable range, even when
each industry o r trade i s operating at what managements
o r d i n a r i l y would c a l l f u l l capacity rates. No attempt was
made, therefore, to measure the ultimate capacity of the
economy. It is clear only that i t must be much higher than
the measure of potential output a r r i v e d at i n this study.
F o r each year, the potential output level represents the
amount the economy could produce at some stipulated rate
of use of the labor force and of capital, and under the
assumption that productive resources are used at something
approaching the economy's notion of a least-cost combination
of inputs. That is, capacity, however conceived, is being
operated so as to produce output at the least cost per unit
of output, in accordance w i t h the best practices possible
w i t h existing management, capital, and training and knowledge of the labor force. It is, in a word, a measure of
what practical man can do under the usual operating
conditions maintainable over long periods of time without
excess s t r a i n or breakdown, on the one hand, o r , on the
other, excessive, wasteful slack in the system, p a r t i c u l a r l y
prolonged, involuntary unemployment of labor." (pages 7
and 8.)
Both the Council of Economic Advisers (series A4) and
Knowles (series A5) specify utilization of 96 percent of the
labor force (4 percent unemployment) i n their definition of
potential. The CEA estimates that the levels of potential and
actual GNP were approximately equal i n mid-1955 and that
potential increased 3 - 1 / ^ p e r c e n t p e r year f r o m mid-1955 to the
end of 1962 and increased about 3 - 3 / 4 percent per year since
1962. The CEA states that these estimates are based on the
evidence that, over the period considered, the potential labor
force has grown by about 1 - 1 / 4 percent per year, while hours
of work have decreased almost 1/4 percent per year and that
the n o r m a l gowth of man-hour productivity for the entire work
force was about 2 - 1 / 2 percent per year.
Knowles, in addition to taking account of the above variables,
took explicit account of the age and stock of capital and included a time trend to allow for factors such as changes i n
132
health, education, and managerial s k i l l for which data were not
available.
Sources: Series A4 is f r o m The Economic Report of the
President, together w i t h The Annual Report of the Council
of Economic Advisers, U.S. Government P r i n t i n g Office,
Washington, 1966.
Series A5 is f r o m James W. Knowles,
The Potential Economic Growth in the United States, Study
Paper No. 20, Study of Employment, Growth and P r i c e Levels,
Joint Economic Committee of Congress, U.S. Government
P r i n t i n g Office, Washington, 1960.
See also Arthur Okun,
"Potential GNP: Its Measurement and Significance," The 1962
Proceedings of the Business and Economic Statistics Section.
American Statistical Association.
Series A6
Net National Product in 1929 Dollars
This series measures the market value of the output of
final goods and services net of capital consumption. It is equal
to Kendrick's constant dollar GNP series ( A l ) less capital
consumption allowances also in 1929 dollars.
Kendrick adjusted the Kuznets capital consumption
allowance estimates to the Commerce Department concept
by subtracting estimates of natural resource depletion and
depreciation on publicly owned capital goods.
Kuznets'
capital consumption figures were generally derived f r o m his
estimates of fixed capital formation, in constant dollars, i n
accordance with estimated l i f e spans of major classes of
producer goods. Kuznets estimates were based on replacement costs.
According to Kendrick, r e a l capital consumption estimates
should be interpreted as measuring the resources required
to maintain the income-producing ability of the capital stock
in t e r m s of base-period prices rather than the volume of
capital goods production necessary to maintain intact the
productive capacity of the economy, since a given amount of
capital goods in constant prices would be expected to have a
greater output capacity i n one period than another as a result
of technological advance.
Source:
Series A6 is f r o m John W. Kendrick, Productivitv
Trends in the United States, National Bureau of Economic
Research.
Series A9 and AlO
National Income
These series measure total output in t e r m s of payments
to the factors of production. They are equal to the aggregate
earnings a r i s i n g f r o m current production and accruing to labor
and property employed i n production. National income,
published i n c u r r e n t dollars by the Department of Commerce
(series AlO), d i f f e r s f r o m GNP in that i t does not include
indirect business taxes and nontax l i a b i l i t i e s , business transfer payments, capital consumption allowances, and the current
surplus of government enterprises less subsidies.
The Goldsmith-Kendrick series (A9) was constructed by
adjusting Kendrick's current-dollar GNP estimates (series A7)
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
for the items accounting f o r the difference between GNP and
national income. The adjustment items were estimated by
Raymond W. Goldsmith (A Study of Saving in the United
States, Vol. III). The Kendrick GNP estimates and the
Goldsmith adjustment items, f o r the most part, conform to the
Commerce Department concepts and definitions p r i o r to the
revisions i n definitions introduced i n the August 1965 Survey
of C u r r e n t Business.
The breakdown of national income by type of income
(employee compensation, p r o f i t s , net interest, and rental
income) is shown as series A54 through A58.
Sources: Series A9 is f r o m H i s t o r i c a l Statistics of the United
States. Colonial T i m e s to 1957, U.S. Department of Commerce,
Bureau of the Census.
Series AlO is f r o m the Survey of
Current Business, U.S. Department of Commerce, Office of
Business Economics.
Series A13 and A14
Gross Private Domestic Product in 1929 and 1958 Dollars
Series A13, compiled by Kendrick, measures the private
domestic sector of GNP on the Commerce Department conceptual basis (see series A1 to A3),
It was derived by
subtracting f r o m GNP i n 1929 dollars (series A1), government product and net factor income f r o m abroad. In this
context, government product includes the compensation of
general government employees but not the compensation of
employees i n government enterprises.
The Department of Commerce series (A14) consists of
GNP i n 1958 dollars less gross product originating in general
government and gross product accruing f r o m the rest of the
world, both i n 1958 dollars. This subtrahend excludes product
originating i n government enterprises which is included in
business gross product.
Sources: Series A13 is f r o m John W. Kendrick, Productivity
Trends in the United States, National Bureau of Economic
Research. Series A14 is f r o m the Survey of Current Business,
U.S. Department of Commerce, Office of Business Economics.
Research; and Jacob Gould, Output and Productivity i n the
E l e c t r i c and Gas U t i l i t i e s , 1899-1942, National Bureau of
Economic Research.
The Federal Reserve series (A16—-1919 to the present)
industry grouping of durable manufactures, nondurable manufactures, mining, and u t i l i t i e s is based largely on the 1957
edition of the Standard Industrial Classification Manual (SIC).
A total of about 200 monthly series, adjusted for undercoverage o r other deficiencies where necessary, are included
in the index. The industries covered by this index c u r r e n t l y
produce about 35 percent of the value of the total output of
goods and services in the United States. The individual series
are combined by means of weighted averages of relatives
where the weights are based on the base period value added;
that is, the difference between the value of production and the
cost of materials. The index, which is on a 1957-59 base,
covers the production of both final and intermediate products.
Sources: Series A15 i s f r o m G. Warren Nutter, Growth of
Industrial Production in the Soviet Union, National Bureau of
Economic Research. Series A16 is f r o m Industrial Production,
1957-59 Base and Federal Reserve Bulletins, Board of
Governors of the Federal Reserve System.
Series A17 and A18
Gross Nonfarm Product in 1929 and 1958 Dollars
These series measure the gross output of the nonagric u l t u r a l sector of the private economy. The Kendrick series
(A17) is expressed in 1929 dollars and the Department of
Commerce series (A18) is in 1958 dollars.
Sources: Series A17 is f r o m John W. Kendrick, Productivity
Trends in the United States, National Bureau of Economic
Research. Series A18 is f r o m the Survey of Current Business,
U.S. Department of Commerce, Office of Business Economics.
Series A19
Manufacturing Output, Index: 1929 • 100
Series A15 and A16
Industrial Production, Index: 1913 = 100; 1957-59 - 100
These indexes measure the changes in the physical volume
o r quantity of output i n manufacturing and mining establishments and in e l e c t r i c and gas u t i l i t i e s . Production on farms,
in the construction industry, i n transportation, or in various
trade and service industries is not included.
Series A15 (1860 to 1928) was prepared by Nutter using a
system of moving income-originating weights to combine the
component industries. The sources used for this series were
Edwin F r i c k e y , Production i n the United States, 1860-1914;
Solomon Fabricant, The Output of Manufacturing Industries,
1899-1937; W a r r e n Persons, Forecasting Business Cycles;
Y. S. Leong, "Index of the Physical Volume Production of
M i n e r a l s , 1880-1948," Journal of the American Statistical
Association, M a r c h 1950; Harold Barger andSamSchurr, The
Mining Industries, 1899-1939, National Bureau of Economic
This series measures the physical volume or quantity of
output i n manufacturing industries. Kendrick extended the output index developed by Solomon Fabricant (Employment in
Manufacmring, 1899-1939, National Bureau of Economic
Research).
Following the procedure used by Fabricant, Kendrick has,
using a variety of sources, interpolated annual data between
the census of manufactures value-added estimates for 1947
and 1954. Indexes of individual industries were combined to
obtain the total index by means of the Edgeworth formula
using quantity of final products and unit value added. Kendrick
has, in addition to making certain adjustments for coverage
and continuity, shifted f r o m the o r i g i n a l base (1899) to 1929.
This index measures output net of intermediate products.
Source:
Same source as for series A l .
133
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series 20
Gross Manufacturing Product in 1954 Dollars
This series represents the portion of GNP (series A2)
attributable to manufacturing. It is measured at its market
value (i.e., includes indirect business taxes) and is net of the
value of materials and services manufacturing industries buy.
This series has not been revised to reflect the definitional and
statistical revisions introduced in the U.S. National Income
and Products Accounts by the Office of Business Economics
in 1965, and is shown in 1954 dollars.
Source:
Series A20 is f r o m Survey of Current Business,
October 1962, and September 1964, U.S. Department of Comm_erce, Office of Business Economics,
Series A21 and A22
Gross Farm Product in 1929 and 1958 Dollars
These series measure the gross output of the a g r i c u l t u r a l
sector of the economy. Series A22, as defined by the Department of Commerce, was obtained by deducting f r o m the total
value of f a r m output, the value of intermediate products such
as f e r t i l i z e r , purchased feed, and motor fuel. Purchases by
one f a r m e r f r o m another and gross rents paid to nonfarm
landlords are also deducted as intermediate products. F a r m
production is thus measured without duplication and i t is
" g r o s s " only in the sense that depreciation and other capital
consumption allowances are not deducted. The total value of
output includes (1) cash receipts f r o m f a r m marketings and
Commodity Credit Corporation loans, (2) f a r m home consumption, (3) net changes i n inventories, and (4) gross rental
of f a r m homes. This series is in 1958 dollars.
The Kendrick series (A21) d i f f e r s f r o m the Department of
Commerce series in that Kendrick has not deducted the rents
paid to nonfarm landlords and Kendrick's series does not
include revisions introduced i n the August 1965 Survey of
Current Business. This series represents, therefore, the
r e t u r n to capital used i n f a r m i n g irrespective of the location
of the owner.
This series is expressed i n 1929 dollars.
Sources: Series A21 is f r o m John W. Kendrick, Productivity
Trends i n the United States, National Bureau of Economic
Research. Series A22 is f r o m the Survey of Current Business,
U.S. Department of Commerce, Office of Business Economics.
Series A23 to A26
Personal Consumption Expenditures and Per Capita Personal
Consumption E^qpenditures in 1929 and 1958 Dollars
These series represent the market value of purchases of
goods and services by individuals and nonprofit institutions,
as w e l l as the value of food, clothing, housing, and financial
services received by them as income in kind. The Department
of Commerce series (A24) covers the total purchase cost to
persons including general sales taxes. The purchase of a
home, which is considered to be a capital good, is excluded
f r o m this series. Instead, an estimated rental value to the
homeowner is included if he occupies the home. Consumer
interest payments are excluded f r o m this series.
134
Personal consumption expenditures are the sum of three
major items: (1) Durable goods (items which generally last
3 years o r longer such as automobiles, furniture, etc.), (2)
nondurable goods (items with a shorter l i f e than 3 years such
as food, clothing, gas, etc.) and (3) services (expenses such
as housing, transportation, and shoe repair). This series is
expressed i n 1958 dollars.
The Kendrick series (A23 i n 1929 dollars) is the sum of
Kuznets' flow of goods to consumers, Variant I I I (see series
A3) and services rendered by financial intermediaries, except
insurance companies, without explicit payment less personal
tax and nontax payments. This series was adjusted to a 1929
p r i c e base on the basis of broad product groupings rather
than detailed product deflators usedfor the Commerce series.
The Kendrick personal consumption series is, however, conceptually comparable with that of the Department of Commerce except for conceptual changes introduced in the 1965
revision (see description for series A l ) .
Per capita personal consumption expenditures (series
A25 and A26) are derived f r o m the two series described
above and the total population of the United States (series
A106).
Sources: For series A23 and A25, see source for series A l .
F o r series A24 and A26, see source for series A2.
Series A27 and A28
Gross Private Domestic Investment in 1929 and 1958 Dollars
These series measure gross fixed investment and net
changes i n business inventories. The "gross fixed investment"
(or gross fixed capital formation) component includes (1)
producers' durable equipment (goods generally lasting
longer than 1 year) and (2) structures, including residential
nonfarm housekeeping and nonhousekeeping units (such as
hotels, motels, and dormitories) acquired by private business
o r nonprofit institutions. "Structures", r e f e r s to private as
opposed to public (government) construction based on ownership rather than the source of funds for construction. The
"change i n inventories" component measures the change in
the physical volume of inventories valued at c u r r e n t r e placement cost. The Department of Commerce series (A28)
is i n 1958 dollars.
The Kendrick series (A27) is also on the Department of
Commerce conceptual basis ( p r i o r to the 1965 revisions)
since, for the years before 1929, the author adjusted the
Kuznets' estimates (see series A l to A3) by subtracting
public construction f r o m gross construction, public purchases
of durable equipment (including munitions) f r o m gross
producers' durables, and net changes i n inventories of
monetary metals f r o m net changes i n business inventories.
After 1929, Kendrick accepts the c u r r e n t - d o l l a r estimates
of the Department of Commerce but converts them to 1929
dollars on the basis of broad product groupings rather than
the f u l l product detail used by Commerce.
Sources: F o r series A27, see source for series A l .
series A28, see source for series A2.
For
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series A29 and A30
Gross Fixed Business Investment in 1929 and 1958 Dollars
Series AS7 and A38
Personal Income
Series A29 and A30 consist of producers' durable equipment and new nonresidential structures. Kuznets' series
(A29), which also includes new residential f a r m construction,
is i n 1929 d o l l a r s and is a 5-year moving average of annual
estimates.
The Commerce data (series A30) are in 1958
dollars and are annual estimates.
Series A38 consists of the total of wages, salaries^and
other labor income, income of unincorporated enterprises,
dividends, transfer payments to persons (such as Social
Security), interest, and rental income of persons. Personal
income d i f f e r s f r o m national income in that the f o r m e r excludes undistributed corporate profits, corporate tax l i a b i l i t y
and inventory valuation adjustment, contributions for social
insurance, and the excess of wage accruals over disbursements; i t includes net interest paid by government and consumers and business and government transfer payments to
persons.
Sources: F o r series A29, see source for series A3,
series A30, see source for series A2.
For
Series A31 and A32
Net Exports of Goods and Services in 1929 and 1958 Dollars
These series measure the excess of exports of goods and
services over i m p o r t s . Exports include both domestic output
sold abroad and production abroad credited to U.S. owned
resources. Imports include U.S. purchases of foreign output
and production in the United States credited to foreign owned
resources. This measure i s equivalent to the net change in
international assets and l i a b i l i t i e s , including the monetary
gold stock, a r i s i n g out of these current international flows.
Series A31 includes net unilateral transfers.
Sources: Series A31 is f r o m John W. Kendrick, Productivity
Trends in the United States, National Bureau of Economic
Research.
This series was developed by Simon Kuznets,
(Capital in the American Economy, Its Formation and Financing, National bureau of Economic Research) using Commerce
Department data for the years since 1929. F o r series A32,
see source for series A2.
Series ASS to A36
Government Purchases of Goods and Services in 1929 and 1958
Dollars
Series A34, as defined by the Department of Commerce,
measures total government purchases of goods and services
exclusive of current outlays of government enterprises,
transfer payments (such as social security), government interest paid to domestic creditors, subsidies, and loans. Included are general government expenditures for compensation
of employees, purchases f r o m business (net of sales by
government), net government purchases f r o m abroad, government interest payments to foreign c r e d i t o r s , the gross investment of government enterprises, and payments to private
nonprofit institutions for research and development.
P r i o r to 1929, Kendrick's estimates of Federal Government
purchases are mainly f r o m the Annual Report of the Secretary
of the T r e a s u r y adjusted to conform to the Department of
Commerce series (A34). The T r e a s u r y estimates were also
converted f r o m a fiscal-year to a calendar-year basis by
Kendrick. Kendrick's estimates for State and local purchases
(not shown separately) are annual interpolations between
estimates prepared by the Governments Division of the Bureau
of the Census.
For the Office of Business Economics' series (A34),
Federal (A35) and State and local (A36), government purchases
are shown separately.
Sources: For series A33, see source for series A l .
series A34 through A36, see source for series A2.
For
The Goldsmith-Kendrick series (A37) was constructed by
adjusting Kendrick's c u r r e n t - d o l l a r GNP estimates (series
A7) for items accounting for the difference between GNP and
personal income. The adjustment items were estimated by
Raymond W. Goldsmith (A Study of Saving in the United States,
Vol. III). The Kendrick GNP estimates and the Goldsmith
adjustment items conform, for the most part, to the Commerce
Department concepts and definitions.
Sources: Series A37 is f r o m H i s t o r i c a l Statistics of the United
States, Colonial T i m e s to 1957; U.S. Department of Commerce,
Bureau of the Census. F o r series A38, see source for series
A2.
Series AS9 to A42
Disposable Personal Income in Current and 1958 Dollars and
Per Capita Disposable Personal Income in 1958 Dollars
Total disposable personal income (series A39 and A40)
measures the portion of total personal income (series A37 and
A38) which is available for consumption or saving. That is, i t
is personal income less personal taxes and other payments to
government such as license fees and inspection fees.
The Goldsmith-Kendrick series (A39) was constructed by
adjusting Kendrick's c u r r e n t - d o l l a r GNP estimates (series
A7) for the items accounting for the difference between GNP
and disposable personal income. The adjustment items were
estimated by Raymond W. Goldsmith (A Study of Saving i n the
United States, Vol. III). The Kendrick GNP estimates and
the Goldsmith adjustment items conform, for the most part,
to the Commerce Department concepts and definitions.
Disposable income is deflated to dollars of 1958 purchasing
power (series A41) by the Office of Business Economics
using the i m p l i c i t price deflator for personal consumption
expenditures (series B66).
Per capita disposable personal income i n 1958 dollars
(series A42) is a measure of the r e a l purchasing power per
person.
Sources: Series A39 is f r o m H i s t o r i c a l Statistics of the
United States, Colonial T i m e s to 1957, U.S. Department of
Commerce, Bureau of the Census. F o r series A40 and A41,
see source for series A2. Series A42 is f r o m Economic
Indicators, Council of Economic Advisers. Data before 1954,
however, were computed by dividing series A41 by series
A106, the population of the United States.
135
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series A43 to A47
Percent Distribution of Family Personal Income by Quintiles
of Consumer Units
ships partnerships, and producers' cooperatives deriving f r o m
c u r r e n t business operations. Capital gains and losses are
excluded and no depletion charges are deducted.
These series measure the percentage of total c u r r e n t dollar f a m i l y personal income (before Federal income taxes)
which is received by the lowest (series A43) to the highest
(series A47) quintiles of consumer units. Consumer units,
which include both f a m i l i e s and unattached individuals, are
ranked i n quintiles by their f a m i l y personal income level.
Rental income of persons (series A56) includes the money
income accruing to persons (except those engaged p r i m a r i l y
in the r e a l estate business) f r o m the rental of r e a l property.
This series also includes the inputed net rental returns for
owner-occupied nonfarm residential structures and royalties
received by persons f r o m patents, copyrights, and rights to
natural resources.
F a m i l y personal income d i f f e r s slightly f r o m personal
income (series A38) in that the f o r m e r excludes certain items
which do not flow to consumer units. F a m i l y personal income
does include, however, imputed as w e l l as money income.
Sources: Data for 1935-36 are f r o m "Size Distribution of
Income Since the M i d - T h i r t i e s , ' ' by Selma Goldsmith, George
Jaszi, Hyman Kaitz, and Maurice Liebenberg i n The Review
of Economics and Statistics, February 1954, H a r v a r d U n i v e r sity Press, (Used by permission. These series may not be
reproduced without w r i t t e n permission f r o m the publisher.)
Data for 1944, 1946, and 1947 are f r o m Income Distribution
in the United States, 1944-1950, U.S. Department of Commerce,
Office of Business Economics. The latter publication also
gives a detailed description of the types of income included.
The remaining data are f r o m the Survey of Current Business,
Office of Business Economics.
Series A48 to ASS
Percent Distribution of Consumer Units by L e v e l of Family
Personal Income i n 1954 Dollars
These series measure the percentage of total consumer
units (families and unattached individuals) whose r e a l annual
income before taxes, measured i n 1954 dollars, is within the
following brackets: Under $2,000 (series A48); $2,000 to
$3,999 (series A49); $4,000 to $5,999 (series A50); $6,000 to
$7,499 (series A51); $7,500 to $9,999 (series A52); and $10,000
and over (series A53). See series A43 to A47 for a description of f a m i l y personal income.
Source: Series A48 to A53 are f r o m Survey of Current
Business, U.S. Department of Commerce, Office of Business
Economics.
Series A54 to A58
Percent Distribution of National Income by Type of Income
These series measure the percentage of total national income (series AlO for 1929 to date) which represent employee
compensation (series A54), p r o p r i e t o r s ' i n c o m e (series A55),
rental income of persons (series A56), corporate profits
before taxes and inventory valuation adjustment (series A57),
and net interest (series A58).
Compensation of employees (series A54) includes income
accruing to persons in an employee status as wages and
salaries, tips, bonuses, commissions, vacation pay, and payments i n kind.
Also included are supplements and fringe
benefits such as employer contributions to private pension,
health, and welfare funds.
Proprietors'
income or
income of unincorporated
businesses (series A55) includes earnings of sole p r o p r i e t o r -
Digitized for 136
FRASER
Corporate p r o f i t s before taxes (series A57) represent the
earnings of corporations organized for p r o f i t . Depletion
charges are not deducted and capital gains and losses are
not included. An inventory valuation adjustment is included
beginning with 1929.
Net interest (series A58) represents the total monetary
and imputed, private and government interest accruing to
persons and governments i n the United States minus the total
interest paid out by the U.S. governments. Imputed interest
is not included before 1929 and consumer interest payments
are excluded beginning with 1930.
The percentages in table 1, prepared by D. Gale Johnston,
are decade averages. The author used the following sources
for the period before 1929: Simon Kuznets, National Income
and Its Composition, 1919-1938, National Bureau of Economic
Research; W i l l f o r d I. King, The National Income and Its
Purchasing Power, National Bureau of Economic Research;
and Robert F. M a r t i n , National Income in the United States,
National Industrial Conference Board.
Sources: Series A54 to A58 are f r o m D. Gale Johnston, "The
Functional D i s t r i bution of Income i n the United States," Review
of Economics and Statistics, May 1954, H a r v a r d U n i v e r s i t y
Press. Johnston's decade averages were extended f r o m 1930
to the present using national income data f r o m the Survey of
Current Business, U.S. Department of Commerce, Office of
Business Economics. (The 1900-29 data are used by p e r mission.
These series may not be reproduced without
w r i t t e n permission f r o m the publisher.)
Series A59, A60, A63, and A65
Indexes of Input, Indexes: 1929 = 100
These indexes are measures of labor (series A63), capital
(series A65), and total input (series A59 and A60) in the
private domestic economy. They attempt to measure what
these resources would have produced i f technological and other
conditions of efficiency had remained the same as in the base
period.
The labor input index was derived by weighting man-hours
worked in various industries by the average hourly compensation i n each industry.
The capital input index was derived by weighting r e a l net
capital stock (land, structures, equipment, and inventories)
for each industry by base-period rates of return.
The index of total input (weighted, series A59) was derived
by combining the labor and capital input indexes, weighting
them by their respective factor prices.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
An alternative index of total input, (unweighted, series A60)
is also shown. This series was derived by combining unweighted man-hours (series A68) and unweighted r e a l capital
stock using fixed weights basedonfactor prices in 1929. This
is not s t r i c t l y an unweighted index, since labor and capital
represent unlike quantities, but i t represents the m i n i m u m
weighting possible.
Source: Series A59, A60, A63 and A65 are f r o m John W.
Kendrick, Productivity Trends i n the United States, National
Bureau of Economic Research.
Series A61, A62, A64, A66, and A67
Indexes of Input, Indexes: 1929 = 100
These series are indexes of labor, capital, and total input
in the national economy.
The index of labor input (series A64) was derived by adjusting the quantity of labor input(man-hours) for changes in
quality resulting f r o m the reduction of n o r m a l working hours,
the increased f o r m a l educationof adult males, changes in agesex composition of the labor force, and changes in the value
of women's work relative to that of adult men. This series is
thus an approximation to the quantity of labor input adjusted
to include changes in quality.
The indexes of capital input (series A66 and A67) were
derived by weighting real stock for five separate types of
capital goods (business structures and equipment, nonfarm
residential structures, inventories, assets abroad owned by
U.S. residents, and assets in the United States owned by
foreigners) by their respective shares of national income and
combining them into an index of total capital input. In
constucting series A66, the weights were changed each 5 years,
and for A67, the same weights were used throughout the period.
The indexes of total input (series A61 and A62) were derived
by weighting the quantity of labor, land (which was assumed
constant throughout the period), and capital by their respective
shares of national income. F o r series A61, the weights were
changed each 5 years, and the capital index also constructed
i n this manner (series A66) was used. Series A 62 was constructed by weighting the inputs by their average income share
for the entire period.
Source: Series A61, A62, A64, A66, and A67 are f r o m Edward
F. Denison, The Sources of Economic Growth in the United
States and the Alternatives Before Us, Committee for
Economic Development.
LABOR FORCE, EMPLOYMENT, AND MAN-HOURS
(Series A68 to A l l 3 )
General Note: Two different sets of figures are used for
these series: Labor force data collected for the Bureau of
Labor Statistics (BLS) by the Census Bureau and establishment data collected by BLS.
Labor force data are estimated by the Census Bureau
f r o m its monthly sample household survey which is designed
to represent a l l persons 14 years and older in the United
States, except those l i v i n g in institutions or in the Armed
Forces. The survey provides estimates of the labor force,
employment, and unemployment as w e l l as broad components within these aggregates.
Instituted in March 1940, the household survey is taken
during the week containing the 12th of each month ( p r i o r to
July 1955, the 8th of each month). For years before 1940,
the estimates have been derived using the 1930 and 1940
Censuses of Population and employment trends f r o m BLS
and Department of Agriculture series.
The labor force estimates cover only hours actually
worked by a l l persons and include wage and salary
employees, the self-employed, and unpaid family workers.
Establishment data are collected by the BLS f r o m r e ports of employing establishment and provide more ind u s t r i a l detail on employment and average hours than do
the labor force data. Establishment data measure hours
paid for (i.e., include hours paid by the employer for sick
leave, holidays, and vacations as well as for work). The
establishment survey does not cover agricultural employment, the self-employed, or unpaid family workers.
Series A68, A70, A73, and A75
Man-Hours, Indexes: 1929 = 100
These series measure man-hours in the total private
economy (series A68), in nonagricultural industries (series
A70), i n manufacturing (series A73), and in agriculture
(series A75).
Kendrick derived these series by multiplying his estimates
of employment (see series A83) by average weekly hours
worked and by 52 weeks for each of various industrial groups
and summing them up to the appropriate aggregates.
Both labor force and establishment data were used by
Kendrick i n estimating weekly hours and employment.
Source:
Same sources as for series A59.
137
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series A69, A71, and A76
Man-Hours—Labor Force Data, Indexes: 1957-59 = 100
These series measure annual man-hours worked i n the
total private economy (series A69), the nonagricultural industries (series A71), and in agriculture (series A76).
The employment figures based on labor force data (series
A80 and A86) were used, except that estimates of general
government employees were subtracted f r o m the estimates of
nonagricultural employment.
The man-hours data are then derived by multiplying employment by average weekly hours (based on labor force data)
and 52 weeks.
Source: Series A69, A71, and A76 are f r o m U.S. Department
of Labor, Bureau of Labor Statistics.
Series A72 and A74
Man-Hours—Establishment Data, Indexes: 1957-59 = 100
These series measure annual man-hours i n the nonagric u l t u r a l industries of the private economy (series A72) and
in manufacturing (series A74) and are based on the establishment data for employment and average hours collected by
BLS.
The BLS employment data (series A88 and A90) are
adjusted to exclude general government employees and to include active p r o p r i e t o r s of unincorporated businesses, unpaid
f a m i l y workers, domestics, and employees of government
enterprises. Also, the average hours data collected by BLS
were supplemented with labor force data.
The man-hours data are then derived by multiplying employment by average weekly hours and 52 weeks.
Sources: Series A77, A79, and A85 are f r o m Stanley Lebergott,
Manpower in Economic Growth, copyright 1964, McGrawH i l l Book Co. (Used by permission. These series may not be
reproduced without w r i t t e n permission f r o m the publisher.)
Series A78, A80, and A86 are f r o m Employment and Earnings
and Monthly Report on The Labor Force, U.S. Department of
Labor, Bureau of Labor Statistics.
Series A81 to A84
Persons Engaged in National and Private Economy
Series A81 and A82 measure employment in the national
economy while series A83 and A84 r e f e r to the private
domestic economy (i.e., they exclude general government
employees and residents of the United States employed by
foreigners).
These series measure total employed persons reduced
to f u l l - t i m e equivalents (i.e., p a r t - t i m e w o r k e r s are converted
to a f u l l - t i m e basis) i n a l l industries. Included are a l l persons
working for wages or salaries and active p r o p r i e t o r s of
unincorporated enterprises devoting most of their time to the
business.
F o r years since 1929, Kendrick's estimates d i f f e r f r o m
those of the Department of Commerce because he includes
estimates of unpaid nonfarm f a m i l y workers and substitutes
Department of A g r i c u l t u r e estimates of f a r m employment
(which include unpaid f a m i l y workers) for those used by the
Commerce Department.
Sources: Series A81 and A83 are f r o m same source as series
A59. Series A82 and A84 are f r o m Survey of Current Business, U.S. Department of Commerce, Office of Business
Economics.
Source: Series A72 and A74 are f r o m U.S. Department of
Labor, Bureau of Labor Statistics.
Series A87 to A90
Nonagricultural and Manufacturing Employment—Establishment Data
Series A77 to A80, A85, and A86
Employment—Labor Force Data
Series A87 and A88 measure the number of persons on
nonagricultural payrolls excluding the Arm.ed Forces, and
series A89 and A90 measure the number of per sons employed
i n manufacturing, the largest industrial division of nona g r i c u l t u r a l employment.
Series All and A78 measure total employment including
members of the A r m e d Forces; series A79 and A80 measure
total c i v i l i a n employment, and series A85 and A86 measure
nonagricultural employment. These series are based on the
labor force data collected by the Census Bureau.
The employed consist of a l l persons 14 years of age and
older who, during the survey week (1) did any work for pay o r
p r o f i t or worked at least 15 hours without pay on a f a m i l y
f a r m or business, o r (2) were t e m p o r a r i l y away f r o m work
due to illness, vacation, labor dispute, bad weather, etc.
Persons holding more than one job are counted in the job
at which they worked the most number of hours.
Series A77, A79, and A85 were developed by Lebergott to
be as comparable as possible with the series based on labor
force data published by BLS.
138
Persons employed are those on establishment payrolls who
received pay for any part of the pay period containing the 12th
of the month o r , for Federal employees, those who occupied
a position at the end of the month. Persons are considered
employed i f they are receiving paid sick leave (except sick
leave compensated for under insurance programs), holiday or
vacation pay, o r who w o r k for part of the pay period and are
unemployed or on s t r i k e for the r e s t of the period. Persons
l a i d off, on leave without pay, on s t r i k e for the whole period,
or h i r e d but w i l l not start work during the pay period are
not included. Also excluded are the self-employed, unpaid
f a m i l y w o r k e r s , and domestics.
Persons holding more than one job are counted more than
once.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series A87 and A89 were developed by Lebergott to be as
comparable as possible with the series based on establishment data published by BLS.
Series A107
Farm Population
Sources: A87 and A89 are f r o m Stanley Lebergott, Manpower
in Economic Growth, copyright 1964, M c G r a w - H i l l Book Co.
(Used by permission. These series may not be reproduced
without w r i t t e n permission f r o m the publisher.) Series A88
and A90 are f r o m Employment and Earnings and Monthly
Report on the Labor Force, U.S. Department of Labor, Bureau
of Labor Statistics.
This series measures the number of persons l i v i n g on
f a r m s , regardless of occupations. Since 1960, f a r m population has been defined as a l l persons l i v i n g in r u r a l places
of 10 acres o r more and selling at least $50 worth of a g r i c u l t u r a l products during the year, or those l i v i n g on less than
10 acres but selling at least $250 worth of f a r m products
during the year. P r i o r to 1960, f a r m residence was determined on the basis of the respondents reply as to whether or
not his house was on a f a r m (or ranch). Data are for A p r i l 1
of each year.
Series A91 to A105
Occupational Distribution of Experienced Civilian Labor Force
These series show the composition of the experienced
c i v i l i a n labor force by major occupation groups. The experienced c i v i l i a n labor force includes the employed, who are
classified according to their c u r r e n t job, and the unemployed,
who are classified according to their last c i v i l i a n job, but
does not include unemployed persons who never held a f u l l time c i v i l i a n job.
F i r s t are shown four aggregates: (1) f a r m workers
(series A91); (2) manual workers (series A92); (3) whitec o l l a r workers (series A93); and (4) service w o r k e r s (series
A94). Next are shown the major occupation groups for these
four aggregates: (1) f a r m e r s and f a r m managers (series A95),
and f a r m laborers and foremen (series A96) for f a r m w o r k e r s ;
(2) craftsmen, foremen and kindred workers (series A97);
operatives and kindred workers (series A98), and laborers,
except f a r m and mine (series A99) for manual w o r k e r s ; (3)
professional, technical, and kindred workers (series AlOO),
managers, officials and p r o p r i e t o r s , except f a r m (series
A l O l ) , c l e r i c a l and kindred workers (series A102), and sales
workers (series A103) for w h i t e - c o l l a r w o r k e r s ; and (4)
private household workers (series A104) and service workers,
except private household (series A105) for service workers.
Sources: Series A91 to A105, for 1900 to 1940, are f r o m David
Kaplan and M. C l a i r e Casey, Occupational Trends in the United
States, 1900-1950, Bureau of the Census Working Paper No. 5.
F o r 1947 to 1960, series are f r o m Labor Force, Emplovment,
and Unemployment Statistics, 1947-61, October 1962, and for
1961 to 1964, Special Labor Force Report No.52, Monthlv
Labor Review, A p r i l 1965, U.S. Department of Labor, Bureau
of Labor Statistics.
Series A106
Population of the United States
This series measures total population of the United States
as of July 1 of each year. F o r 1930 to date, A r m e d Forces
stationed overseas are included, and p r i o r to
1930 are
excluded.
Sources: For 1860 to 1899, data are based on linear i n t e r polation between census years by the Bureau of the Census
and for 1900 to date, data come f r o m Current Population
Reports, U.S. Department of Commerce, Bureau of the Census.
2 3 0 - 1 9 3 O - 66 - 10
Source:
Series A107 is f r o m F a r m Population, U.S. Department of Agriculture, Economic Research Service. Decennial
data for 1880 to 1900 are f r o m F a r m Population 1880-1950,
Leon E. Truesdell, Bureau of the Census Technical Paper No.
3, U.S. Department of Commerce.
Series A108 to A l l l
Total Labor Force
Series A108 and A109 measure the total labor force including members of the A r m e d Forces and series A l l O and
A l l l measure the c i v i l i a n labor force.
The c i v i l i a n labor force is the sum of the employed and
the unemployed persons 14 years of age and over. See
series A78 for a description of persons considered employed
and series B2 for persons unemployed.
Series A108 and A l l O were developed by Lebergott to be
as comparableaspossiblewithseriesA109 and A l l l published
by BLS.
Sources: Series A108 and A l l O are f r o m Stanley Lebergott,
M a n ^ w e r in Economic Growth, copyright 1964, McGrawH i l l Book Co. (Used by permission. These series may not be
reproduced without w r i t t e n permission f r o m the publisher.)
Series A109 and A l l l are f r o m Employment and Earnings
and Monthly Report on the Labor Force, U.S. Department of
Labor, Bureau of Labor Statistics.
Series A l l 2 and A l l 3
Female Labor Force
These series measure the number of females 14 years of
age and older, who are either employed, unemployed, or in
the A r m e d Forces.
See series A78 for a description of
persons considered employed and series B2 for those considered unemployed.
Sources:
Decennial data for series A112 are f r o m John D.
Durand, The Labor Force i n the United States, 1890-1960,'
Social Science Research Council. Series A113 is f r o m E m ployment and Earnings and Monthly Report on the Labor
Force, U.S. Department of Labor, Bureau of Labor Statistics.
139
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series A114 to A119
Percent Distribution of the Population of the United States by
Age
These series show the annual percentage of the total population of the United States i n selected age groups: Under 14
(series A114); 14 to 19 (series A115); 20 to 24 (series A116);
25 to 44 (series A117); 45 to 64 (series A118); and 65 and
over (series A119). The total population is that residing in
continental United States as of July 1 of each year f r o m 1900
to 1939; for 1940 to date i t also includes the Armed Forces
stationed abroad. Beginning with 1950, total population includes Alaska and Hawaii.
Sources: Series A114 to A119 are f r o m Current Population
Reports, Series P-25, U.S. Department of Commerce, Bureau
of the Census.
Series A120 and A121
Birth Rate
These series measure the number of l i v e births per 1,000
population of the United States.
The data for 1860,1880, and 1900 were prepared by Sheldon
on the basis of decennial census statistics on the number of
children i n various age groups.
F o r 1909 to 1939, data are f r o m the National Center for
Health Statistics and are basedonthe total resident population
of the United States (the population for 1917 to 1919 includes
A r m e d Forces overseas). Data f o r 1909 to 1914 are for the 10
o r i g i n a l r e g i s t r a t i o n States. The 1915 to 1932 data, however,
have been adjusted by P. K. Whelptonto represent the entire
United States (see " B i r t h s and B i r t h Rates i n the E n t i r e United
States, 1909-1948," V i t a l Statistics-^Special Reports, Vol. 33,
No. 8,1950). Data for 1940 to date are published by the Census
Bureau and d i f f e r f r o m those published by the National Center
for Health Statistics by the inclusion of A r m e d Forces abroad
and estimates for Hawaii and Alaska i n the population base.
Sources: Series A120, f o r the years 1860 to 1900, is f r o m
Henry D. Sheldon, The Older Population of the United States,
for the Social Science Research Council in cooperation w i t h
the U.S. Department of Commerce, Bureau of the Census.
Series A121, for the years 1909 to 1939, is f r o m V i t a l Stat i s t i c s of the United States, 1963, Vol. I, Department of Health,
Education, and Welfare, Public Health Service, National Center
for Health Statistics, and for the years 1940 to date, f r o m
Current Population Reports, Series P25, No. 331, Department
of Commerce, Bureau of the Census.
Series A122 and A123
Death Rates
These series are measures of the number of deaths per
1,000 population of a l l ages (series A122) and the number of
deaths i n the resident population 15 to 64 years of age per
1,000 population i n that age group (series A123).
Data i o r series A122 for 1900 to 1939 are published by the
National Center f o r Health Statistics and based on the total
resident population of conterminous United States. Only 10
States were included i n the death r e g i s t r a t i o n area i n 1910,
but this number increased gradually until 1933 when 48 States
were included. Data for 1940 to date were published by the
Census Bureau and d i f f e r f r o m those published by the National
Center for Health Statistics by the inclusion of A r m e d Forces
140
abroad and estimates for Hawaii and Alaska i n the population
base.
Sources: Series A122, for the years 1900 to 1939, is f r o m
V i t a l Statistics of the United States, 1963, Vol. II, Department
of Health, Education, and Welfare, Public Health Service,
National Center for Health Statistics. F o r 1940 to date, data
are f r o m C u r r e n t Population Reports, Series P25, No. 331,
U.S. Department of Commerce, Bureau of the Census. Series
A123 was computed at the Census Bureau by dividing total
deaths for ages 15 to 64 ( f r o m V i t a l Statistics of the United
States, various years) by total resident population age 15 to
64 (Current Population Reports, Series P25).
Alaska is
included beginning i n 1959 and Hawaii beginning i n 1960.
Series A124 and A125
Immigration Rate
Series A124, covering the period 1860 to date, represents
total i m m i g r a t i o n to the United States per 1,000 population of
the United States (series A106). An i m m i g r a n t is defined as
an alien, other than a returning resident alien, admitted for
permanent residence. This definition has generally been i n
use since 1889; before that year different concepts were used
(see source cited below).
Series A125 represents net c i v i l i a n i m m i g r a t i o n to the
United States per 1,000 population (series A106 plus estimates
for Hawaii and Alaska i n a l l years). This series measures
the change i n population attributable to i m m i g r a t i o n and is not
s t r i c t l y comparable w i t h series A124.
Sources: I m m i g r a t i o n data for series A124 are f r o m Annual
Report, U.S. Department of Justice, I m m i g r a t i o n and Naturalization Service.
Series A125 is f r o m C u r r e n t Population
Reports, Series P25 No. 331, U.S. Department of Commerce,
Bureau of the Census.
Series A126 and A127
Stock of Civilian Tangible National Wealth in 1947-49 Dollars
These two series measure the value of a l l tangible c i v i l i a n
assets situated i n the United States plus n e t f o r e i g n balances.
Series A126 measures the r e a l gross stock of wealth and
c a r r i e s assets at their o r i g i n a l cost while series A127
measures the r e a l net stock of assets at their o r i g i n a l cost
less accrued depreciation.
The
private
assets
A134),
(series
stock of tangible c i v i l i a n assets includes reproducible
business wealth (series A128), government c i v i l i a n
(series A133), private residential structures (series
private land (series A135), and consumer durables
A136).
Assets are included i n these series until their estimated
useful l i f e is completed. The estimates of most components
of reproducible wealth are estimated by the perpetual inventory
method by which past expenditures are cumulated, allowing
for depreciation based on an assumed average length of l i f e
for each p a r t i c u l a r type of asset. The author states that
neither the net nor gross estimates are d i r e c t measures of
the productive capacity of the stock, but that such a measure
w i l l usually l i e somewhere between the net and gross esti-
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
mates. Data are available annually for 1945 to 1958 and for
benchmark years since 1900. "Two values for 1945—usually
d i f f e r i n g but little—are shown. The f i r s t of these.. .is comparable w i t h . . .estimates back to 1900; the second belongs to the
set of annual estimates for the postwar period.''
Source: Series A126 and A127 are f r o m Raymond Goldsmith,
National Wealth of the United States i n the Postwar Period,
National Bureau of Economic Research.
Series A135
Net Stock of Private Land in 1947-49 D o l l a r s
This series measures the value of the stock of private
agricultural, residential, and nonresidential land. The estimated value of nonagricultural land is based on average ratios
of land values to the values of structures on the land. A g r i c u l t u r a l land values were based on census data.
Source:
Series A128 to A132
Net Reproducible Private Business Wealth in 1947-49 D o l l a r s
Series A128 measures the total reproducible wealth owned
by corporations, unincorporated businesses, and f a r m s . This
stock of wealth is composed of nonfarm producer durables
(series A131), nonresidential nonfarm structures (series
A129), a g r i c u l t u r a l equipment and nonresidential structures
(series A132), private inventories (series A130) and monetary
metals.
Depreciation for nonfarm producer durables is based p r i m a r i l y on Bulletin F of the Internal Revenue Service. F o r
nonfarm nonresidential structures, s t r a i g h t - l i n e depreciation
estimates were based on an average l i f e of 40 years for ind u s t r i a l and c o m m e r c i a l structures and 50 years for public
u t i l i t y structures. Straight-linedepreciation estimates, based
on an average l i f e of 45 years for service buildings and 15
years f o r f a r m machinery and t r a c t o r s , were used f o r f a r m
equipment and structures. Inventories were deflated by the
wholesale p r i c e indexes and various a g r i c u l t u r a l price
indexes.
Source:
Same source as for series A126 and A127.
Series A133
Net Stock of Government Civilian Assets i n 1947-49 Dollars
This series measures the net stock of structures, land,
producer durables, inventories, monetary metals, and net
foreign assets, owned by the Federal and State and local
governments. Straight-linedepreciation estimates were based
on an average l i f e of 50 years for structures, 30 years for
highways, and 12 years for producers' durables.
Source:
Same source as for series A126 and A127.
Series A134
Net Stock of Private Residential Structures in 1947-49 Dollars
Series A136
Net Stock of Consumer Durables i n 1947-49 Dollars
This series measures the depreciated stock of consumer
durables. Coverage is s i m i l a r to that used by the Office of
Business Economics in the Survey of Current Business. Depreciation estimates were based on an average l i f e ranging
f r o m 4 years for ophthalmic products and orthopedic apliances to 15 years for furniture, passenger cars, and j e w e l r y
and watches.
Source:
Source:
Same source as for series A126 and A127
Same source as for series A126 and A127.
Series A137
Net Reproducible Business Wealth Per Person Engaged,
Index: 1947-49 = 100
This series i s the r a t i o of net reproducible private business
wealth (series A128) to persons engaged in the private sector
of the economy. For 1929 to 1958, OBE's estimates of total
persons engaged (series A82) less a l l government employees
were used and p r i o r to 1929, comparable figures were
estimated on the basis of Kendrick's data (series A83) assuming that unpaid household workers and employees of
government enterprises comprised 4 percent (as they did in
1929) of total persons engaged.
Sources: Data f o r persons engaged p r i o r to 1929 are f r o m
John W. Kendrick, Productivity Trends in the United States,
National Bureau of Economic Research. F o r 1929 to 1965,
data for persons engaged are f r o m the Survey of Current
Business, U.S. Department of Commerce, Office of Business
Economics. Data for net reproducible business wealth are
f r o m Raymond Goldsmith, National Wealth of the United
States in the Postwar Period, National Bureau of Economic
Research.
Series A138
N e t - G r o s s Stock Ratio of P r i v a t e Producer Durables
This series is defined as the r a t i o of the net value to the
gross value of producer durables owned by corporations,
unincorporated businesses, and f a r m s . This ratio indicates
the proportion of the l i f e of private producer durables s t i l l
available for use i n production.
Source:
This series measures the net stock of private residential
structures of which nonfarm households compose over 80 p e r cent. Straight-line depreciation estimates were based on an
average l i f e of 80 years for one-to-four f a m i l y nonfarm homes
and 65 years for m u l t i f a m i l y dwellings.
Same source as for series A126 and A127.
Same source as for series A126 and A127.
Series A139
Net-Gross stock Ratio of Private Nonresidential Structures
This series is the r a t i o of the net value to the gross value
of nonresidential structures, owned by unincorporated busi-
141
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
nesses, corporations, and f a r m s . This r a t i o indicates the
proportion of the l i f e of nonresidential structures s t i l l
available for use in production.
Source:
Same source as for series A126 and A127.
Series A140 to A145
Stock of Fixed Business Capital In 1954 Dollars
These series measure the total stock of fixed business
capital. They are obtained by the perpetual inventory method;
i.e., by cumulating annual investment expenditures based on
assumed service lives of structures and equipment.
Series A140, A142, and A144 are based on service lives
published in the Internal Revenue Service's Bulletin F, 1942,
and Series A141, A143, and A145 are based on service lives
20 percent shorter than those of B u l l e t i n F.
Series A140 and A141 are measures of gross stocks and
series A142 to A145, are measures of net stock.
Two different methods of depreciation were used for the
net stock series. Series A142 and A143 assume straight-line
depreciation and series A144 and A145 assume the double
declining balance method whereby an asset is depreciated at
twice the straight-line rate of depreciation i n the f i r s t year
and the same rate is applied i n succeeding years.
These series are described as being useful in viewing the
effect of alternative service lives and depreciation schedules,
but probably not as useful for detailed analysis of components
as other studies conducted on a less aggregate basis.
Source: George Jaszi, Robert Wasson, Lawrence Grose,
"Expansion of Fixed Business Capital in the United States,"
Survey of Current Business, November 1962, U.S. Department
of Commerce, Office of Business Economics.
Series A146
Capacity f o r Manufacturing Industries,
Index: December 1950 = 100
This series shows the growth of manufacturing capacity as
compared with capacity in the base period. It is based upon
replies to the annual M c G r a w - H i l l survey in which businessmen are asked to report expected changes i n the physical
volume of their capacity. F r o m these replies capacity indexes
for 15 manufacturing industries are compiled and then weighted
by the 1957 value-added weights used in the manufacturing
component of the Federal Reserve index of industrial p r o duction.
This series measures the capacity in t e r m s of plant and
equipment and assumes a given supply of labor, materials,
and competent management. In other words, increasing or
decreasing manpower and materials are not taken into account.
This method is considered an engineering concept as opposed
to an economic concept which allows for costs, demand, and
alternative uses of resources.
Source: M c G r a w - H i l l , Department of Economics, Business'
Plans for New Plants and Equipment, 1966-1969, and e a r l i e r
issues.
142
Series A147
Manufacturing Capacity Index
This series measures the changes in manufacturing
capacity. Three separate series are used to estimate manufacturing capacity: (1) the M c G r a w - H i l l utilization rate
(series B33) divided into the end-of-year index of industrial
production for manufacturing (average of unadjusted indexes
for December and January); (2) the M c G r a w - H i l l capacity
index (series A146); and (3) the Commerce Department estimates of fixed capital stock in 1954 dollars.
These three series are used i n combination i n order to
reduce s h o r t - t e r m random influences and other biases. Two
regressions are computed w i t h the f i r s t measure as a
dependent variable and the second and t h i r d measures, r e spectively, and time (with 1955 = 1) as independent variables.
Subsequent averaging of the estimated values of the dependent
variables provides the final capacity measure.
Additional information concerning these series may be
found i n Frank de Leeuw's "The Concept of Capacity,'' Journal
of the A m e r i c a n Statistical Association (December 1962,
volume 57) and in "Manufacturing Capacity Measures and
Current Economic Analysis," by Peter GajewskiProceedings
of the Business and Economics Section, American Statistical
Association, 1964. T h i s series is measured as a percent of
the 1957-59 average output.
Sources: Data are computed by the Board of Governors of the
Federal Reserve System and published in The Annual Report
of the Council of Economic Advisers, January 1966.
Series A148 and A149
Number of Operating Businesses
Series A148 measures the number of business f i r m s i n
operation as of January 1 of each year (data for 1929 to 1940
are averages of end-of-quarter estimates). A f i r m is defined
by the Office of Business Economics as a financially responsible business organization under one management with an
established place of business which may control one or more
plants or outlets although corporate subsidiaries and the parent
corporations are counted separately. A l l nonfarm businesses,
regardless of size, and a l l self employed persons with either
a place of business or one or more paid employees are
included. Professional practices (doctors, lawyers, etc.) are
not considered business f i r m s .
Series A149, is the total of listed concerns in the Dun and
Bradstreet Reference Book. This book includes manufact u r e r s , wholesalers, r e t a i l e r s , building contractors, and
certain types of c o m m e r c i a l services. This series is not as
broad in coverage as series A149. The specific types of
business not covered are finance, insurance, r e a l estate
companies, r a i l r o a d s , terminals, amusements, many types of
small service and construction enterprises, professional
practices, and f a r m e r s . Data represent the number of f i r m s
in existence as of July 1 of each year.
Sources: Series A148 is f r o m Business Statistics and the
Survey of Current Business, U.S. Department of Commerce,
Office of Business Economics. Series A149 is f r o m Dun and
Bradstreet Reference Book and F a i l u r e Statistics.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series A150, A152, and A154
Indexes of Productivity, Indexes: 1929 = 100
These series are measures of total productivity (series
A150), labor productivity (series A152), and capital producti v i t y (series A154). K e n d r i c k d e r i v e d these series by dividing
gross private domestic product (series A13) by appropriate
indexes of input (series A59, A63 and A65).
Total factor productivity measures the net change i n the
productive efficiency of the economy, and the labor and capital
productivity indexes measure the efficiency with which these
two inputs are utilized individually.
Source: Series A150, A152, and A154 are f r o m John W.
Kendrick, Productivity Trends in the United States, National
Bureau of Economic Research.
Series A151, A153, and A155
Indexes of Productivity, Indexes: 1929 = 100
These series are measures of total productivity (series
A151), labor productivity (series A153) and capital productivity
(series A155). They were derived by dividing gross national
product (in 1954 dollars) by appropriate indexes of input
(series A61, A64, and A66).
As described by Denison, these series show changes i n the
output produced by a unit of input as a result of increasing
scientific, technological, and managerial knowledge, changes
i n the efficiency of the economy, economies and diseconomies
of scale, and a l l other influences not measured in the input
indexes.
Source: Series A151, A153, and A155 are f r o m Edward F.
Denison, The Sources of Economic Growth in the United
States and the Alternatives Before Us, Committee for
Economic Development.
Series A156, A162, A165, and A167
Output Per Man-Hour, Indexes: 1929 = 100
These series are productivity indexes for the total private
domestic economy (series A156), the nonagricultural (series
A162) industries, manufacturing (series A165), and a g r i culture (series A167).
Kendrick derived these series by dividing appropriate
output series (A13, A17, A19 and A21) by corresponding
series of man-hours (A68, A70, A73, and A75).
BLS has derived these series by dividing the appropriate
output series (A14, A18, A20, and A22 but including output
originating in the rest of the w o r l d sector except for manufacturing) by c<- ^sponding estimates of man-hours (A69,
A71, A72, A74, anu A76).
Source: Series A157, A163, A164, A166, and A168 are f r o m
U.S. Department of Labor, Bureau of Labor Statistics.
Series A158 and A159
Output Per Employee, in 1929 and 1958 Dollars
These series represent measures of labor productivity and
are derived by dividing GNP by total employment including
members of the A r m e d Forces.
Series A158 is GNP in 1929 dollars (series A l ) divided by
total employment (series All and A78).
Series A159, covering the period 1929 to date, is GNP in
1958 dollars (series A2) divided by total employment (series
A78).
Sources: GNP data for series A158 are f r o m John W
Kendrick, Productivity Trends in the United States, National
Bureau of Economic Research, and for series A159 f r o m
Survey of Current Business, U.S. Department of Commerce,
Office of Business Economics.
Employment data
Lebergott, Manpower
Co., and for A159,
Department of Labor,
for series A158 are f r o m Stanley
in Economic Growth, M c G r a w - H i l l Book
f r o m Employment and Earnings, U.S.
Bureau of Labor Statistics.
Series A160 and A161
Output Per Person Engaged, In 1929 and 1958 Dollars
These series are a measure of labor productivity and are
obtained by dividing gross private domestic product by
persons engaged in the private domestic economy.
Series A160, covering the period 1890 to 1957, is gross
private domestic product in 1929 dollars (series A13) divided
by persons engaged in the private economy (series A83).
Series A161, covering the period 1929 to date, is gross
private domestic product in 1958 dollars (series A14) divided
by persons engaged i n the private domestic economy (series
A84).
Source: Series A156, A162, A165, and A167 are f r o m John
W. Kendrick, Productivity Trends in the United States,
National Bureau of Economic Research.
Sources: Data for series A160 are f r o m John W. Kendrick,
Productivity Trends i n the United States, National Bureau of
Economic Research. Data for series A161 are f r o m Survey
of Current Business, U.S. Department of Commerce, Office
of Business Economics.
Series A157, A163, A164, A166 and A168
Output Per Man-Hour, Indexes: 1957-59 = 100
Series B1 to B3
Unemployment Rates (Labor Force Data)
These series represent measures of labor productivity for
the total private economy (series A157), the nonagricultural
industries (series A163 and A164), manufacturing (series
A166), and agriculture (series A168).
These series measure the total number of unemployed as a
percent of the total c i v i l i a n l a b o r force (series B1 and B2) and
the number of unemployed m a r r i e d men with wives present as
a percent of their labor force (series B3).
143
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
For series B2 and B3, persons classified as unemployed
are those 14 years of age and older, who, during the survey
week (week containing the 12th of each month; p r i o r to July
1955, the 8th of each month) did no work at a l l but were looking for work o r would have been looking for work i f they
weren't t e m p o r a r i l y i l l or i f they believed work was available
i n their line or community.
Series B7 measures the average weekly hours worked
either f u l l time (35 hours or more) or part time (1 to 34
hours) during the survey week (week ending nearest the 12th
of the month). Persons holding two or more jobs have their
hours credited to the job at which they spend the most time.
F o r a description of sources of data, seethe general note for
series A68 to A113.
Series B1 was developed by Lebergott to be as comparable
as possible with the ELS series (B2). Lebergott derived his
series on unemployment by making direct benchmark
estimates of unemployment in 1900, 1910, and 1930, using the
population census data i n those years. Thenintercensal estimates were obtained by estimating the c i v i l i a n labor force
(series A l l O ) and employment (series A79) and deducting one
series f r o m the other.
Kendrick's series f o r average weekly hours in a l l industries
(B6) was developed f r o m his individual industry components
r e l y i n g on the hours-worked concept wherever possible (see
the general note for series A68 to A113). These averages
have been adjusted to a f u l l - t i m e equivalent basis and include
sole p r o p r i e t o r s and unpaid f a m i l y w o r k e r s .
Sources: Series B1 is f r o m Stanley Lebergott, Manpower in
Economic Growth, copyright
1964, M c G r a w - H i l l Book
Company (Used by permission. This series may not be r e produced without w r i t t e n permission f r o m the publisher.)
Series B2 and B3 are f r o m Employment and Earnings and
Monthly Report on the Labor Force, U.S. Department of Labor,
Bureau of Labor Statistics.
Series B4 and B5
Actual and Potential Average Annual Hours Per Employee
These series measure the actual (series B4) and the
potential (series B5) average annual hours per employee in the
national economy. Actual average annual hours per employee
(series B4) was derived by dividing Kendrick's estimates of
man-hours (a series comparable to A68 but which includes
government employees, civilian, and m i l i t a r y ) by his estimates
of persons engaged (series A81).
Potential average annual hours per employee series (B5)
measures n o r m a l or standard hours which eliminate the effect
of s h o r t - r u n deviations f r o m secular movements, including
those related to the business cycle. Knowles developed this
series by hand f i t t i n g a trend to actual hours (described
above) by means of linear interpolations "over short and
economically meaningful periods—in each of three s e c t o r s agriculture, private nonfarm, and government." In f i t t i n g a
curve to this period (1909 to 1958), the author assumed that
the l o n g - t e r m movement of hours consisted of "a gradual
decline until the t h i r t i e s , a sharp decline until the late forties
and then a slowing down of the decline into the f i f t i e s . "
Sources: Series B4 i s based on data f r o m John W. Kendrick,
Productivity Trends i n the United States, National Bureau of
Economic Research. Series B5 is f r o m James W. Knowles,
The Potential Economic Growth in the United States, Joint
Economic Committee.
Series B6 to B9
Average Weekly Hours
These series measure the average weekly hours worked
per employee i n the c i v i l i a n economy (series B6and B7), and
the average weekly hours worked (B8) and average weekly
hours f o r which pay was received (B9) by nonsupervisory
production workers in manufacturing establishments.
144
Series B8, also developed by Kendrick, measures the
average length of the workweekfor nonsupervisory production
workers in manufacturing. The author r e l i e d on BLS estimates
beginning i n 1909, which measure hours paid f o r rather than
hours worked. The difference between the two concepts, however, " i s n o t o p e r a t i o n a l l y significant p r i o r to 1939." Also, the
author has used the Annual Survey of Manufactures in which
man-hours relate to time actually worked f o r the data since
1947.
Average hours estimates were extended to early
decades by means of available estimates of the standard, o r
f u l l - t i m e workweek adjusted to represent hours actually
worked by means of a regression between the ratios of actual
to f u l l - t i m e average hours and the ratios of employment to
labor force in manufacturing.
Series B9 measures the average weekly hours f o r which
pay is received during the pay period containing the 12th of
the month, by nonsupervisory production workers in manufacturing. Hours include overtime, holidays, vacations, and
sick leave when pay is received d i r e c t l y f r o m the f i r m .
Sources: Series B6 and B8 are f r o m John W. Kendrick, P r o d^uctivity Trends i n the United States, National Bureau of
Economic Research. Series B7 and B9 are f r o m Employ ment
and Earnings and t h e M o n t h l y R e p o r t o n t h e LLabor
a b o r Fc
Force,
U.S. Department of Labor, Bureau of Labor Statistics.
Series BIO to BSC
Labor Force Participation Rates
These series indicate the average annual percentage of the
total noninstitutional population 14 years of age and older who
are i n the labor force, by various age-sex components, (data
p r i o r to 1947 include the institutional population). Data since
1940 include members of the A r m e d Forces.
Labor force participation rates are shown for the total
population as described above (series BIO); the total male
population (series B l l ) , males 14 to 19years, 20 to 24 years,
25 to 44 years, 25 to 34 years, 35 to 44 years, 45 to 64 years,
45 to 54 years, 55 to 64 years, and 65 years and over (series
B13 to B21, respectively); the total female population (series
B12); and females i n the above age groups (series B22 to B30,
respectively).
F o r a description of the labor force, see series A109.
Sources: F o r the total labor force (series BIO), data before
1940 are f r o m Stanley Lebergott, Manpower i n Economic
Growth, M c G r a w - H i l l Book Co. (Used by permission. This
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
series may not be reproduced without w r i t t e n permission
f r o m the publisher.) F o r series B l l through B30, 1890 to
1946 data are f r o m H i s t o r i c a l Statistics of the United States.
Colonial T i m e s to 1957, U.S. Department of Commerce, Bureau
of the Census (the decennial data through 1930 were based on
previous estimates developed by John D. Durand, The Labor
Force i n the United States. 1890-1960, Social Science Research
Council; data f o r 1947 to present (beginning 1940 for series
BIO) are f r o m The Manpower Report of the President and
Employment and Earnings and Monthly Report on the Labor
Force, both published by the U.S. Department of Labor, Bureau
of Labor Statistics.
M c G r a w - H i l l Survey i n which businessmen are asked to report
at what percentage of capacity their companies are actually
operating at the end of the year. The same weighting scheme
is used as for the capacity index for manufacturing (series
A146).
This series is thought to represent a combination of economic and engineering concepts since the definition of capacity
is left to the respondent.
Source: Series B33 is f r o m M c G r a w - H i l l Department of Economics, Business* Plans for New Plants and Equipment,
various issues.
Series B31
Utilization of Industrial Capacity
This series measures the rate of utilization of capacity in
manufacturing, mining, and u t i l i t i e s . It is derived by selecting
specific business cycle peaks (for the individual series rather
than for general economic activity) for each of 30 major industries included i n the Federal Reserve index of industrial
production and assuming that the industry is at f u l l capacity
(i.e., a l l available labor and facilities are being used) during
the peak period. Linear interpolation between peaks provides
a measure of capacity for each industry. Wherever the trend
line fitted to the preceding two peaks is exceeded, a new peak
is established and a new trend is computed. The ratios of the
actual production values to the capacity values are the u t i l i zation rates.
These ratios for the 30 industries are then
averaged using Federal Reserve industrial production weights.
Quarterly averages of monthly data are used in computing this
series.
The Wharton School capacity measure entails an economic
concept since i t is conditioned by the aggregate output of the
economy and consequently by costs of labor and materials at
capacity.
Source: Quarterly data are f r o m the Wharton School of
Finance and Commerce, University of Pennsylvania, Economic
Research Services Unit. The annual data shown are averages
of four quarters. F o r a more detailed description of how this
series i s computed, including the procedure for selecting
peaks, see K. Krishnamurty, "Industrial Utilization of
Capacity," in The Proceedings of the Business and Economics
Statistics Section, American Statistical Association, 1961.
Series B32
Manufacturing Output as a Percent of Capacity
This series measures the utilization rates of manufacturing
capacity. The output measure i s the Federal Reserve index of
industrial production (the manufacturing component of A16) and
the capacity measure is also compiled at the Federal Reserve
(series A147). See the series descriptions for A16 and A147.
Source: The data are f r o m The Annual Report of the Council
of Economic Advisers, January 1966.
Series B33
Actual Operating Rate in Manufacturing
This series measures the rate of utilization of manufacturing capacity.
It is based upon replies to the annual
Series B34
Rate of Capacity Utilization
This series measures the actual operating rate of industry
(including manufacturing, transportation, public utilities,
communications, trade, service, finance, contract construction and farming) relative to its estimated capacity
(capacity is an index with 1949 = 100).
The numerator o r output measureof this index is " n o r m a l "
or "expected" rather than actual output. That is, i t consists of a
weighted average of c u r r e n t output and recent output since,
according to the source, this provides a better indication to the
businessman of persistent pressure of output on capacity.
Most economic definitions describecapacity as that level of
output where the cost of producing additional units would be
prohibitively high because of r i s i n g costs of capital and labor
throughout the economy. Utilization rates deriving f r o m such
definitions r a r e l y exceed 100 percent. For this series, however, the denominator o r capacity measure is defined as that
level of output where average o r unit cost is minimized. This
utilization series i s almost always above 100 percent since,
according to the author, the economy is usually operating
between the points of m i n i m u m average cost and maximum
attainable output.
Capacity is estimated by a regression technique which takes
into account the size of the capital stock, the level of p r o duction techniques and the prices of productive resources.
The regression included observations for the period 1949 to
1960 and additional data were extrapolated to 1962.
Source: Series B34 is f r o m B e r t G. Hickman, Investment
Demand and U.S. Economic Growth, copyright 1965, The
Brookings Institution, Washington, D.C. (Used by permission.
This series may not be reproduced without w r i t t e n permission
f r o m the publisher.)
Series B35
Manufacruring Production Per Net Value of Equipment
Index: 1957-59 = 100
T h i s series is a measure of the capacity utilized in the
manufacturing sector of the economy. It consists of the index
of production for manufacturing (annual averages of the
monthly index on a 1957-59 base) divided by the r e a l net value
145
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
of manufacturing equipment i n 1954 dollars at the end of the
calendar years.
The total industrial production index (which includes mining
and u t i l i t i e s as w e l l as manufacturing) i s described i n series
A16. Net value of equipment is determined by the "perpetual
inventory'' method whereby new purchases less depreciation
charges are added to the previous end-of-year estimates.
This series was o r i g i n a l l y developedby the Joint Economic
Committee of Congress, but has been recomputed with annual
production data. Also, the base has been shifted f r o m May
1953 to 1957-59 = 100 to cor respond with the production index.
Sources: This index, i n slightly different f o r m , appeared i n
The Staff Report on Employment, Growth and P r i c e Levels,
December 24, 1959, page 70, prepared for the Joint Economic
Committee. The data i n appendix 2 were computed using the
production index for manufacturing f r o m Industrial P r o duction, 1957-59 Base and Federal Reserve Bulletins published by the Board of Governors of the Federal Reserve
System and the value of equipment series f r o m U.S. Income
and Output, 1958, and July issues of the Survey of Current
Business both published by the U.S. Department of Commerce,
Office of Business Economics.
Series B36
School Enrollment as a Percent of the Population, Age 5 to 17
This series represents the total enrollment in regular
public and nonpublic elementary and secondary day schools in
the United States as a percent of the population 5 to 17 years
old. Included are local public school systems and nonpublic
schools (church affiliated or nonsectarian). Excluded are enrollments in subcollegiate departments of institutions of
higher education, residential schools for exceptional children,
and Federal schools. In general, the population estimates used
r e f e r to July 1 preceding the opening of the school year (e.g.
the population estimate for July 1, 1964, was used with the
f a l l 1964 enrollment estimate to derive the school year ending
1965 percentage enrolled figure).
Sources: The o r i g i n a l sources for the 1889 to 1962 data are
Annual Report of the UnitedStatesCommissioner of Education
and Biennial Survey of Education i n the United States, U.S.
Department of Health, Education, and Welfare, Office of
Education. The data for this series for 1889 to 1962, however, are f r o m H i s t o r i c a l Statistics of the United States,
Colonial T i m e s to 1957 and its supplement. Continuation to
1962 and Revisions, U.S. Department of Commerce, Bureau
of the Census. The f a l l 1964 enrollment data is f r o m Digest
of Educational Statistics: 1965, Office of Education. Population estimates for 1889 to 1962 were derived f r o m series
published i n H i s t o r i c a l Statistics; the population estimate for
1964 is taken f r o m Current Population Reports: Population
Estimates, Series P - 2 5 , No. 314, Bureau of the Census.
Series B37
Higher Education Enrollment as a Percent of the Population,
Age 18 to 21
This series represents the total enrollment in institutions
of higher education as a percent of the population 18 to 21
146
years old. P r i o r to and including academic year ending 1946,
enrollment figures used represent the total resident degreec r e d i t enrollment ( f u l l - and p a r t - t i m e students), regular
session only (September to June), exclusive of enrollments i n
extension, correspondence, adult education, short courses,
etc. Data f r o m year ending 1947 ( f a l l 1946) to date are based
on opening (fall) enrollments.
Beginning with f a l l 1953,
enrollment figures include resident and extension degreecredit students while data for a l l e a r l i e r periods exclude
extension students. Beginning with f a l l 1960, the enrollment
data used include the 50 States and the D i s t r i c t of Columbia;
data for a l l e a r l i e r periods include c u r r e n t l y existing States
and the D i s t r i c t of Columbia. The population estimates used
are exclusiveof the A r m e d Forces overseas f r o m 1870 through
1929 and are inclusive thereafter. The population data used
are actual census counts as of June 1 f r o m 1870 through 1900
and for later years are estimates by the Bureau of the Census
as of July 1 preceding the opening of the academic year. F o r
this series, the percentage-enrolled figures are shown
according to the year i n which the academic year ended, but
are based upon the academic y e a r ' s opening (fall) enrollment
(or cumulative enrollment for years before 1947.)
Source: Series B37 is f r o m Digest of Educational Statistics,
1965, U.S. Department of Health, Education, and Welfare,
Office of Education.
Series B38
Average Length of Public School Term
This series measures the average length of the school
year, measured in school days, i n public elementary and
secondary day schools in the United States. The average
length of school t e r m (computed by dividing aggregate pupildays attended by the average daily attendance) reflects the
number of days that schools were actually i n session as well
as the attendance of pupils during the year. Average daily
attendance figures measure the average number of pupils
actually present i n school and are, therefore, smaller than
corresponding average daily membership or enrollment
figures. The figures for this series are shown according to
the year i n which the school year ended.
Sources: The o r i g i n a l sources for the 1870 to 1962 data are
Annual Report of the United States Commissioner of Education and Biennial Survey of Education i n the United States,
U.S. Department of Health, Education, and Welfare, Office
of Education. However, f o r this series, the data for 1870
to 1962 are taken f r o m H i s t o r i c a l Statistics of the United
States, Colonial T i m e s to 1957 and its supplement, Continuation to 1962 and Revisions, U.S. Department of Commerce,
Bureau of the Census. Data for 1964 are f r o m Statistical
Summary of State School Systems, 1963-64, Office of
Education.
Series B39
Average Number of Days attended Per Pupil
This series represents the average number of days attended
per academic year by each enrolled pupil i n public elementary
and secondary day schools i n the United States. It is the r a t i o
of the aggregate days attendance to the total public day school
enrollment. Figures for this series are shown according to
the year in which the school year ended.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Source: F o r data f r o m 1870 to date, see source for series
B38. A p r e l i m i n a r y 1964 figure was derived using the 1963-64
public school figures for enrollment, average daily attendance,
and average length of school t e r m as shown i n the Statistical
Summary.
Series B40
Median Years of Education Completed, Age 25 and Older
This series measures the median number of years of
education completed by persons 25 years old and over i n the
United States. The estimates derived by Folger and Nam for
1910, 1920, and 1930 represent r e t r o j e c t i o n by age cohorts of
the 1940 census data on educational attainment.
Sources: The 1910, 1920, and 1930 data are f r o m John K.
Folger and Charles B . N a m , "Educational Trends f r o m Census
Data," Demography, 1964 (Vol. I, No. I). Data for later years
are f r o m censuses of 1940, 1950, and 1960, and Current
Population Reports: Population C h a r a c t e r i s t i c ^ Series P-20,
numbers 121, 138, and (forthcoming), for 1962, 1964, and
1965, U.S. Department of Commerce, Bureau of the Census.
Series B41
Total Expenditures i n the Educational System
T h i s series measures the total educational and general
expenditures for current operating costs, expenditures for
capital outlay (excluding debt retirement), and interest by
a l l levels of public and private educational institutions. Included are Federal schools, schools for exceptional children,
and auxiliary and other expenditures not allocable to pupil
costs. Figures are shown according to the year in which the
school year ended.
Source: Series B41 is f r o m Digest of Educational Statistics,
1965, U.S. Department of Health, Education, and Welfare,
Office of Education. Data are shown in thousands i n the source
but are rounded to m i l l i o n s f o r publication in this report.
Series B42
Expenditure Per Student Enrolled in Higher Education
This series represents the r a t i o of total educational and
general expenditures (including capital outlay and interest)
by institutions of higher education i n the United States to the
total enrollment.
Educational expenditure data used are
fiscal (academic) year totals f r o m 1920 to date. However,
enrollment figures used for the years ending 1920 to 1946 are
September-to-June enrollments (see series description for
series B37), and opening (fall) enrollments for 1947 to date
(e.g. the opening enrollment total for f a l l 1963 is used with
the year ending 1964 expenditure figure to derive the per
student expenditure figure for year ending 1964). Data for
this series are shown according to the year in which the
academic year ended.
Sources: The o r i g i n a l source for 1920-46 is Biennial Survey
of Education in the United States, U.S. Department of Health,
Education, and Welfare, Office of Education. The enrollment
data, however, for 1920 to 1946, are taken f r o m H i s t o r i c a l
Statistics of the United States, Colonial Times to 1957, U.S.
Department of Commerce, Bureau of the Census. Enrollment
data, 1947 to date, are f r o m Digest of Educational Statistics, 1965, Office of Education. Expenditure data, 192U
to date, are f r o m Office of the Assistant Secretary for
P r o g r a m Coordination, Health, Education, and Welfare
Trends, annual editions.
Series B43
Expenditure Per Pupil Enrolled In Public Schools
This series represents the r a t i o of total general and
educational expenditures by public elementary and secondary
schools i n the United States to the total enrollment. Included
i n total expenditures are total c u r r e n t operating expenditures,
capital outlays, interest, and other auxiliary services such
as adult education and summer schools.
Sources: The o r i g i n a l sources for 1870-1952 are Annual
Report of the United States Commissioner of Education and
Biennial Survey of Education in the United States. U.S.
Department of Health, Education, and Welfare, Office of
Education.
The data for 1870 to 1952, however, are taken
f r o m H i s t o r i c a l Statistics of the United States. Colonial
Times to 1957, U.S. Department of Commerce, Bureau of the
Census. The 1954-60 and 1965 enrollment data and 1950-60
and 1965 expenditure data are f r o m Digest of Educational
Statistics: 1965, Office of Education. The 1962-64enrollment
and expenditure data are f r o m Statistical Summary of State
School Systems: 1963-64.
Series B44 to B46
Median Income by Education Completed, Males, Age 25 Years
and Over
These series measure the median income of males, 25
years old and over, by the following years of education completed: 8 years of elementary school (series B44), 4years of
high school (series B45), and 4 or more years of college
(series B46). The figures for 1939 and 1959 are not s t r i c t l y
comparable w i t h other years because they exclude males
over 64 years old. Also, for series B44, the 1939 estimate
includes those w i t h 7 or 8 years of education since estimates
were not separately available for those with 8 years of elementary school education.
Sources: The 1939 data are f r o m Sixteenth Census of the
United States Population: Education; Educational Attainment
by Economic Characteristics and M a r i t a l Status. The 1949
data are f r o m 1950 United States Census of Population:
Education, Special Report, PENo. 5B. The 1959 data are f r o m
1960 Uniied States Census of Population: Occupation by
Subject Reports, PC (2) 7B. Data
for 1958, 1961, 1963, and 1964 are f r o m Current Population
Reports: Consumer Income, Series P-60, Nos. 33, 39, 43 and
47. A l l reports are published by U.S. Department of Commerce, Bureau of the Census.
Series B47
Public Expenditures f o r Medical Research
This series measures the total expenditure for medical
research by Federal, State, and local governments. Excluded
147
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
are research expenditures under maternal and child health
and vocational rehabilitation programs.
Source: Series
Education, and
(data published
annual editions.
Coordination).
B47 i s f r o m U.S. Department of Health,
Welfare, Social Security Administration,
i n Health, Education, and Welfare Trends,
Office of the Assistant Secretary f o r P r o g r a m
Series B48
W o r k - L o s s Days p e r Currently Employed Person
This series measures the annual average number of whole
work days lost per c u r r e n t l y employed person. A w o r k - l o s s
day is i n c u r r e d when a person who would have gone to work
at a job o r business loses the entire work day because of
illness o r i n j u r y . If a person's regular work day i s less than
a whole day and the entire work day is lost, i t is counted as
a whole day lost. W o r k - l o s s days are determined for persons
age 17 and over i n the c i v i l i a n noninstitutional population. The
data r e f e r to fiscal years ending June 30. The figures for 1960
to 1965 are based upon actual sample frequencies in the Health
Interview Survey. Estimates for 1958 and 1959 have been
extrapolated by the source agency using a related series. The
impact of the f a l l 1957-winter 1958 influenza epidemic is r e flected i n the 1958 figure.
Source: Data f o r 1960 to 1965, are f r o m Health, Education,
and Welfare Indicators, February 1966, for 1960 to date, U.S.
Department of Health, Education, and Welfare, Office of the
Assistant Secretary f o r P r o g r a m Coordination. The 1958 and
1959 estimates were provided by the Public Health Service,
National Center f o r Health Statistics.
Series B49
Patients in Hospitals f o r L o n g - T e r m Psychiatric Care
T h i s series represents the number of resident patients in
public and private hospitals for prolonged care, measured as
of the end of the f i s c a l year. It is the r a t i o of this number to
the c i v i l i a n population (as of July 1), 10 years of age and over.
Alaska is included beginning with 1960 and Hawaii, with 1961.
The f i s c a l year ends on June 30 for most of the public hospitals
and on December 31 f o r most private hospitals. The sharp
increase i n the rate during 1943 to 1945 was p r i m a r i l y the
result of the decrease i n the c i v i l i a n population during W o r l d
War II. H i s t o r i c a l l y , approximately half of the total number
of patient days of hospital use has been due to the treatment
of psychiatric patients.
Sources: Series B49 is f r o m Health. Education, and Welfare
Trends, annual editions, U.S. Department of Health, Education, and Welfare, Office of the Assistant Secretary for
P r o g r a m Coordination.
Series B50
Average L i f e E3q)ectancy at B i r t h
This series measures the l i f e expenctancy at b i r t h ; that is,
the average number of years that members of the U.S. popu-
148
lation are expected to l i v e i f subjected throughout their lives
to the age-specific m o r t a l i t y rates observed at the time of
their b i r t h . The extremely low figure for 1918 reflects the
worldwide influenza epidemic of that year.
Source: Series B50 is f r o m V i t a l Statistics of the United
States: 4963, Volume II, P a r t A, for 1900-63, U.S. Department of Health, Education and Welfare, Public Health Service.
Series B51
Applications f o r Patents
This series measures the number of patent applications
f i l e d w i t h the U.S. Patent Office. Included are applications
covering inventions, designs, and botanical plants. Applications for reissue of patents; i.e. those which are issued to
replace another patent to c o r r e c t an e r r o r , are excluded.
Sources: Series B51 i s based on Annual Report of the Commissioner of Patents which presents f i s c a l year figures,
U.S. Department of Commerce, Patent Office. However,
data for this series for 1860 to 1959, are on a calendar-year
basis and are taken f r o m H i s t o r i c a l Statistics of the United
States, Colonial T i m e s to 1957 and i t s supplement. Continuation to 1962 and Revisions; and f o r 1960 to date, f r o m Stat i s t i c a l Abstract of the United States, annual editions, U.S.
Department of Commerce, Bureau of the Census.
Series B52 to B61
Funds f o r Scientific Research and Development by Source
These series measure the sources of funds f o r the conduct
of scientific research and development i n the United States.
The National Science Foundation defines research (both applied
and basic) as "the systematic and intensive study directed
toward a f u l l e r knowledge of the subject s t u d i e d , a n d development as "the systematic use of scientific knowledge directed
toward production of useful materials, devices, systems,
methods, and processes." Generally, the data include only
c u r r e n t operating costs and exclude outlays for major capital
items. The data f o r 1953 to date are based on a consistent,
full-coverage sample of institutions p e r f o r m i n g scientific
research and development, yielding comparable and reliable
estimates. The data for years previous to 1953 are based
upon sporadic and incomplete surveys or other estimating
procedures and are, therefore, only roughly comparable with
the post-1953 data. They are, however, useful for studying
general economic trends i n scientific research and development.
Total sources of funds for the periods 1930-40, 1941-53,
and 1953 to date are measured by series B52, B53, and B54.
Sources of funds by sector are measured as follows: F o r 1953
to date, series B56, B58, B60, and B 6 l measure funds contributed by the Federal Government, industry, colleges and
universities, and other nonprofit institutions; for the 1941-53
period, series B55, B57, and B59 measure funds contributed
by Federal and state governments, industry, and universities.
Sources: Data for 1930 to 1940 are f r o m Vannevar Bush,
Science—The Endless F r o n t i e r , July 1945 (reprinted July
1960), National Science Foundation, Washington, D.C. (some
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
expenditure estimates by sector are available for the 1920's
f r o m this source). Data for 1941 to 1953 are f r o m Department
of Defense, Office of the Secretary (published by the Department of Commerce, Bureau of the Census, i n Statistical
Abstract of the United States: 1960). Data for 1953 lo date
are f r o m Reviews of Data on Scientific Resources, Volume I,
Number 4, and unpublished data. National Science Foundation.
Series B62 to B68
Implicit Price Deflators, Gross National Product and Components, Indexes 1929 = 100, 1958 - 100
These series measure the change in the value of physical
goods and services included i n GNP (series B62 and B63),
gross private domestic product (series B64), personal consumption expenditures (series B65 and B66), and fixed investment (series B67 and B68) of any given year as compared w i t h
the base year, 1929 or 1958. Since they are obtained by
dividing c u r r e n t - d o l l a r expenditure estimates by the c o r responding deflated o r constant-dollar data (deflated in a
detailed product breakdown by appropriate price indexes),
i m p l i c i t p r i c e deflators, consist of p r i c e relatives which
receive shifting weights in proportion to expenditure patterns
i n c u r r e d each year for the goods and services which they
represent. These series d i f f e r in this respect f r o m price
measures such as the Consumer P r i c e Index and the Wholesale P r i c e Index (series B69 to B71) which use constant
weights based on the expenditure patterns which prevailed in
the various base periods employed.
F o r series B62, B65, andB67, the deflators were calculated
by dividing Kendrick's estimates of c u r r e n t - d o l l a r expenditures by his corresponding estimates in 1929 dollars (see
descriptions f o r series A1 and A3.)
The p r i c e deflator for fixed investment (new construction
and producers' durable equipment) corresponds to the investment component of GNP excluding the change i n inventories.
Sources: Series B62, B65, and B67 are f r o m John W.
Kendrick, Productivitv Trends i n the United States, National
Bureau of Economic Research; Series B63, B64, B66, and B68
are f r o m the Survey of Current Business, U.S. Department of
Commerce, Office of Business Economics.
Series B69
Wholesale Prices, All Commodities, Index: 1957-59
100
This series i s designed to measure the change i n the composite of p r i c e movements i n p r i m a r y markets (the initiating
level of market transactions). It is designed to measure the
" r e a l " price changes between two periods of time exclusive
of p r i c e movements resulting f r o m changes in quality, quantity,
t e r m s of sale, level of distribution, unit priced o r source of
price.
The t e r m "wholesale" r e f e r s to sales i n large lots and not
to prices received by wholesalers, jobbers, or distributors.
Most quotations are the selling prices of representative
manufacturers o r other producers, o r prices quoted on organized exchanges o r markets and are exclusive of excise taxes.
The index i s a weighted average of p r i c e changes where the
weights are the total net selling value of commodities p r o duced and processed i n the United States (including the value
of commodities sold for export and imported f o r consumption
and for sale) and flowing into p r i m a r y markets. Weights are
derived f r o m the censuses of manufacturers and m i n e r a l
industries and various other sources. Included in the index
are products of manufacturing, agriculture, f o r e s t r y , fishing,
mining, quarrying, w e l l operation, and gas and electric u t i l ities. The index does not measure the price movements of
r e t a i l transactions, transactions for services (except gas and
e l e c t r i c i t y to nonresidential users), construction, r e a l estate,
transportation, or securities.
Source: Series B69 is f r o m Wholesale P r i c e s and P r i c e
Indexes. U.S. Departmentof Labor, Bureau of Labor Statistics.
Series B70
Cost of Living, Index: 1914 * 100
This series is designed to measure changes in the prices
paid by manufacturing wage earners for consumer goods. Rees
has supplemented indexes of food, liquor, and tobacco prices
developed by Paul H. Douglas (Real Wages in the United States,
1890--1926) with measures of the prices of clothing, home
furnishing, rent, fuel, light, and other items using data developed f r o m newspaper advertisements and m a i l order catalogs.
Component indexes were averaged using fixed 1901 weights
except that the fuel index was computed using interpolations
of expenditures data for 1890 and 1918.
Source: Series B70 is f r o m Albert Rees, Real Wages in Manufacturing, 1890-1914, National Bureau of Economic Research.
Series B71
Consumer Prices, All Items, Index: 1957-59 = 100
The Consumer P r i c e Index measures the effect of price
changes on the l i v i n g costs of urban wage earners and c l e r i c a l
workers (families and single persons l i v i n g alone). It is
calculated by comparing, f r o m one time period to the next,
the cost of a "market basket" of goods and services usually
purchased by this particular population group.
A sample of the market basket of consumption goods,
c u r r e n t l y consisting of 400 items, is priced in 39 standard
metropolitan statistical areas and 17 smaller cities selected
to represent a l l urban cities in the United States. The separate
city indexes are then combined, using population weights, to
obtain the total index. The changes in r e t a i l prices of individual items are also weighted according to expenditure
patterns of urban wage earners and c l e r i c a l workers. The
o r i g i n a l expenditure weights were based on the 1917-19 period
and have been revised several times since then, as has the
market basket of items included. The latest weights are based
on the 1960-61 period and have been used to calculate data
beginning with 1964.
Source: Series B71 is f r o m U.S. Consumer P r i c e Indexes, U.S.
Department of Labor, Bureau of Labor Statistics.
149
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series B72
Total Compensation Per Hour at Work for Manufacturing
Production Workers, in 1957 Dollars
This series measures the total compensation per hour at
work i n constant dollars of 1957 purchasing power for p r o duction w o r k e r s in manufacturing.
Total compensation consists of money earnings and wage
supplements per hour worked (rather than per hour paid for)
so that increases in paid vacations, holidays, or sick leave
increase per hour compensation. Changes i n other f o r m s of
time paid for but not worked, such as lunch periods and coffee
breaks, are not accounted for in this series. The data for
money earningsper hour at work used in developing this series
are based largely on the Census of Manufactures and Annual
Survey of Manufactures reports for various years using the
Bureau of Labor Statistics data on earnings per hour paid for
as an interpolator.
Wage supplements included in this series are employer
contributions to old age and s u r v i v o r s insurances, unemployment insurance, workmen's compensation, and private pension, welfare, and insurance plans. Other items sometimes
considered fringe benefits, such as Christmas bonuses, subsidies to company cafeterias, and discounts on goods bought
f r o m employers are excluded.
BOND YIELDS AND INTEREST Rx\TES
Series B73 to B83
General Note: These series are measures of the cost of
c r e d i t to b o r r o w e r s (business and governments) and the rate
of r e t u r n to lenders. Maturities for l o n g - t e r m securities
(series B73 to B79) range f r o m 8 to 30 years and for shortt e r m (series B80 to B83) f r o m 3 months to 1 year.
The use of market yields rather than security prices
eliminates the effect of differences i n the t e r m s of
securities, such as the coupon rate and the length of time
to m a t u r i t y . These yield quotations indicate the rate of
r e t u r n on investments purchased at c u r r e n t market prices
and held to m a t u r i t y . They do not necessarily reflect the
yields realized by purchasers on other dates, nor the yields
realized by investors who dispose of securities before
maturity.
The series described below are yields on the highest
(or close to the highest) obligations—those of governments
and the best corporate obligations. A large portion of the
capital funds of b o r r o w e r s whose activities involve more
r i s k i s represented by equity securities for which there is
no fixed contractual rate of return.
Rees converted total compensation per hour at work to
constant dollars on the basis of the consumer p r i c e index
(series B71, but on a 1957 base), and the cost of l i v i n g index
(series B70) supplemented by a figure for the year 1889 f r o m
a study by Clarence D. Long.
Series B73
U.S. Government Bond Yields
Sources: Series B72 is f r o m A l b e r t Rees, "Patterns of Wages,
Prices and Productivity,'' Wages, Prices, Profits and P r o ductivity, American Assembly, Columbia University, 1959.
For 1920 to 1931 and 1954 to 1957, Rees' revised data on total
compensation per hour at work i n current dollars f r o m his
New Measures of Wage Earner Compensation in Manufacturing, 1914-57 (National Bureau of Economic Research)
were divided by the consumer price index which appeared in
the f o r m e r publication. Data f r o m 1958 through 1963 were
supplied by H. Gregg Lewis who used a method s i m i l a r to
that employed by Rees.
This series measures l o n g - t e r m government bond yields.
F r o m January 1, 1919, to October 14, 1925, yields were unweighted averages of yields of a l l outstanding p a r t i a l l y taxexempt government bonds with c a l l date or m a t u r i t y of more
than 8 years; f r o m October 15, 1925, to December 27, 1941,
yields were the same as above except c a l l date or m a t u r i t y
was more than 12 years. Since 1942, yields have been based
upon fully taxable bonds with c a l l dates or maturity of more
than 15 years f r o m January 1942 to March 31, 1952; of more
than 12 years f r o m A p r i l 1952 to M a r c h 31, 1953; and of more
than 10 years, thereafter.
150
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
P r i o r to 1953, yields were based upon the mean of the
closing bid and ask quotations, and since then have been based
on daily closing-bid quotations i n the over-the-counter market.
Source: Series B73 is f r o m T r e a s u r y Bulletin, T r e a s u r y
Department.
Series B74
American Railroad Bond Yields
This series is composed of geometric averages of yields
of l o n g - t e r m high-grade r a i l r o a d bonds, adjusted to eliminate
economic d r i f t because of secular changes in the quality of
the bonds. Yields for individual bonds are based on arithmetic
averages of monthly high and low sale prices. With a few
exceptions, the index includes no bonds w i t h maturities under
10 years; since 1909 the m i n i m u m has been 14 years. The
number of bonds on which the index is based was 13 in 1857,
increased gradually to 37 in 1900, varied between 36 and 45
u n t i l 1930, and declined to about 28 in 1935.
Source: Series B74 is f r o m F r e d e r i c k R. Macaulay, Some
Theoretical Problems Suggested by the Movements of Interest
Rates, Bond Yields and Stock P r i c e s in the United States
Since 1856, National Bureau of Economic Research.
Series B75
Basic Yields of 30-Year Corporate Bonds
This series shows yields estimated as prevailing in the
f i r s t quarter of each year f o r bonds with 30 years to maturity.
The rates are based on monthly high and low quotations of
p r a c t i c a l l y a l l the actively traded high-grade corporate issues
outstanding since 1900.
Sources: Data for 1900 to 1942 are f r o m David Durand, Basic
Yields of Corporate Bonds, National Bureau of Economic
Research; for 1943 to 1962, f r o m Sidney Homer, A History of
Interest Rates, Rutgers U n i v e r s i t y P r e s s ; for 1963 to 1965,
f r o m Sidney Homer, United States and Foreign Interest Rates,
Salomon Brothers and Hutzler.
Series B76
New England Municipal Bond Yields
This series is an annual average of arithmetic averages
of the yields each quarter of New England Municipal bonds.
Source: Series B76 is f r o m F r e d e r i c k R. Macaulay, Some
Theoretical Problems Suggested by the Movements of Interest
Rates, Bond Yields and Stock P r i c e s i n the United States
Since 1856, National Bureau of Economic Research.
month; for 1946 to date, the index is averaged for the f i r s t
Thursday of each month.
The index is derived by averaging the market value expressed in t e r m s of yield on bonds of general obligations
only of issues of States, cities, and school d i s t r i c t s . These
issues are a l l in the top four ratings (Aaa, Aa, A and Baa) as
classified by Moody's Investors Service and when averaged
are equivalent to the second best rating. P r i c e s of issues
used are those applicable to a bond having a m a t u r i t y of about
20 years and selling at a price close to par.
Source: Series B77 is f r o m the Weekly Bond Buyer. (Used
by permission. This series may not be reproduced without
w r i t t e n permission f r o m the publisher.)
Series B78
Manhattan Island Real Estate Mortgage Rates
This series is the average rate of conventional Manhattan
r e a l estate mortgages.
Source: Series B78 is f r o m the Real Estate Analyst published
by the Roy Wenzlick Research Corporation. The 1879 to 1961
data may also be found i n Sidney Homer, A H i s t o r y of Interest
Rates, Rutgers University Press, and 1962 to 1965 data in
Sidney Homer, United States and Foreign Interest Rates,
Salomon B r o t h e r s and Hutzler.
Series B79
Secondary Market Yields on FHA Mortgages
This series measures the annual average mortgage yield
of maximum p e r m i s s i b l e interest rates on secondary market
prices. The yields are on mortgages for new homes that have
been insured by the Federal Housing Administration. U n t i l
July 1961, rates were based on mortgages with a maturity of
25 years that would be prepaid at the end of 12 years, and
since then, with a m a t u r i t y of 30 years to be prepaid at the
end of 15 years.
Transactions are for immediate delivery of home m o r t gages i n the secondary market and exclude seasoned mortgages
or deliveries to the Federal National Mortgage Association.
P r i c e s are net of discounts, commitment fees, or other
charges and p r i o r to 1956, represent typical transactions.
After 1956, they represent mortgages with a maturity of 25
years and 10-percent downpayment, and after July 1961, a
m a t u r i t y of 30 years and a m i n i m u m downpayment. Since
March 1956, prices have been weighted to reflect the probable
volume of transactions in the various insuring office areas
whereas data before were unweighted.
Source:
Series B79 is f r o m Federal Housing Administration.
Series B77
Municipal Bond Yields
This series measures the annual average of the Bond Buyer
weekly index of 20 new municipal bonds p r i o r to 1915 and 11
bonds thereafter. F o r 1915 and 1916, the index of 11 bonds is
averaged for January 1, A p r i l 1, July 1, and September 1; for
1917 through 1945, the index is averaged for the f i r s t of each
2 3 0 - 1 9 3 O - 66 - 10
Series BSC
Commercial Paper Rates
This series shows average interest rates on4- to 6-month
c o m m e r c i a l loans. A c o m m e r c i a l paper is a p r o m i s s o r y note
(if endorsed i t is called a two-name paper) which a borrower
151
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
offers for sale to a broker who i n t u r n may hold i t himself or
sell i t to a bank or other investor. No stock or bond collateral
is needed and, therefore, only those borrowers whose credit is
well established and w e l l known can make effective use of
c o m m e r c i a l paper as a method of securing this type of shortt e r m loan.
Since 1951, rates represent averages of daily quotations
and, p r i o r to that year, of weekly prevailing rates.
Sources: Series
B80 is f r o m Board of Governors of the
Federal Reserve System, Banking and Monetary Statistics and
Federal Reserve Bulletins.
Series B81
Stock Exchange Call Loan Rates
This series is the average of daily rates of call money on
the New Y o r k Stock Exchange. This type of loan is made to
stock or bond brokers o r investment bankers and involves
collateral. The c o l l a t e r a l are stocks and/or bonds which are
given to the lender. Generally, the purpose of a c a l l loan is
to finance speculative operations in the financial markets or
the distribution of new issues of securities.
Beginning in 1957, the rates shown are the going rates for
both new and renewal call loans. E a r l i e r rates are for renewal
loans only.
Sources: Data for 1857 to 1889 are f r o m F r e d e r i c k R.
Macaulay, Some Theoretical Problems Suggested by the
Movements of Interest Rates Bond Yields and Stock P r i c e s
in the United States Since 1856, National Bureau of Economic
Research; for 1890 to 1941, f r o m Board of Governors of the
Federal Reserve System, Banking and Monetary Statistics.
Data for 1942 to date were supplied (no longer published) by
the Federal Reserve System and published by the U.S. Department of Commerce, Office of Business Economics, in Survey
of Current Business.
Series B82
Basic Yields of 1-Year Corporate Bonds
This series shows yields estimated as prevailing in the
f i r s t quarter of each year for bonds with 1 year to maturity.
The rates are based on monthly high and low quotations of
p r a c t i c a l l y a l l the actively traded high-grade corporate issues
outstanding since 1900.
Sources: Data for 1900 to 1942 are f r o m David Durand, Basic
Yields of Corporate Bonds, National Bureau of Economic
Research; for 1943 to 1962, f r o m Sidney Homer, A H i s t o r y of
Interest Rates, Rutgers U n i v e r s i t y Press; for 1962 to 1965,
f r o m Sidney Homer, United States and Foreign Interest Rates,
Salomon B r o t h e r s and Hutzler.
Series B83
U.S. Treasury Bill Rates
Data f r o m 1920 through 1930 represent yields on individual
issues of T r e a s u r y notes and certificates and are averages of
152
daily figures. These averages include all outstanding issues of
the securities with periods to maturity f r o m 3 to 6 months.
Data represent T r e a s u r y b i l l s with m a t r u i t y of 3 months
f r o m 1931 to February 16, 1934; 6 months f r o m February 23,
1934, to February 23, 1935; 9 months f r o m March 1, 1935, to
October 15, 1937; b i l l s maturing about March 16, 1938, f r o m
October 22 to December 10, 1937; and 3 months f r o m December 17, 1937 to date. T r e a s u r y b i l l s d i f f e r f r o m other
types of T r e a s u r y marketable securities i n that they are
sold on a discount basis instead of being offered with a fixed
coupon rate.
Data f r o m 1931 through 1946 represent average rates on
issues announced within the period and since then represent
yields on new b i l l s issued within the period. Data f r o m 1931
to M a r c h 1, 1941, represent tax-exempt T r e a s u r y b i l l s and
thereafter taxable b i l l s .
Source: Series B83 is f r o m the Board of Governors of the
Federal Reserve System, Banking and Monetary Statistics
and Federal Reserve Bulletins.
Series B84 and B85
Index of Common Stock Prices: 1941-43 = 10
These series measure the average annual market value of
common stocks relative to their market value i n the base
period, 1941-43. The index values represent the average of
12 monthly p r i c e averages.
In determining the average
monthly p r i c e , each stock is weighted by the number of shares
outstanding. The indexes have been based on 500 stocks since
1957 and were based on 90 stocks before that year. Effects
of a r b i t r a r y p r i c e changes caused by the issuance of rights,
stock dividends, split-ups, and m e r g e r s are eliminated as far
as possible.
Data f o r series B84 were o r i g i n a l l y developed by the Cowles
Commission using the same methods and including, as far as
possible, the same companies as the Standard and Poor's
index.
Sources: Series B85 is f r o m Standard and Poor's Corporation
and series B84 is f r o m the Cowles Commission. The data are
published on the 1941-43 base i n H i s t o r i c a l Statistics of the
United States, U.S. Department of Commerce, Bureau of the
Census, and i n Business Statistics and the Survey of Current
Business, U.S. Department of Commerce, Office of Business
Economics.
Series B86 and B87
Corporate Profits
These series measure the p r o f i t s of corporations i n the
United States before (series B86) and after (series B87) the
deduction of income and excess profits tax l i a b i l i t y . The
data are based on compilations of profits reported to the
Internal Revenue Service and subsequent audits of corporate
reports.
Reported totals are adjusted by the Office of
Business Economics to exclude duplication resulting f r o m
intracorporate dividend payments and capital gains and losses.
Included i n the estimates are depletion allowances, current
net earnings of the Federal Reserve Banks, Federal and State
and local taxes (for series B86 only), and profits and dividends
accruing to foreign corporations and stockholders.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Source: Series B86 and B87 are f r o m the Survey of Current
Business, U.S. Department of Commerce, Office of Business
Economics.
Gross proceeds are estimated by multiplying the number
of units by o f f e r i n g prices. Net proceeds are gross proceeds
less flotation costs such as compensation to underwriters,
agents, etc., and other expenses.
Series B88
Internal Sources of Corporate Funds
Sources: Series B89, developed by the Commercial and
Financial Chronicle, is f r o m Banking and Monetary Statistics,
Board of Governors of the Federal Reserve System. Data for
series B90, f o r 1934 to 1958, are f r o m the 25th Annual Report
of the Securities and Exchange Commission; data since 1958
are f r o m the Board of Governors of the Federal Reserve
System, Federal Reserve Bulletin.
This series measures sources of funds generated within the
corporations themselves, as opposed to external sources
obtained by corporations through the issuance of stocks o r
bonds o r by receiving bank loans o r other l i a b i l i t i e s . These
are funds available for investing i n physical assets o r for increasing corporate financial assets.
The items included in internal sources of corporate funds
are undistributed profits, inventory valuation adjustment, and
capital consumption allowances. Corporate f a r m s and financ i a l institutions are excluded f r o m this series.
Sources: Data for 1929 to 1945 were supplied by the Office of
Business Economics, and f o r 1946 to 1965 are f r o m the Survey
of Current Business, November 1965 and May 1966, U.S.
Department of Commerce, Office of Business Economics.
Series B89 to B90
Corporate Security Issues f o r New Capital
Series B91 to BIGG
Sources of Saving
These series measure annual gross saving (series B91 and
B92) and i t s components (series B93 to BlOO). Two methods
of derivation are shown: (1) The income approach, as used
by the Office of Business Economics, measures saving as the
difference between income and spending during an accounting
period; and (2) the balance sheet method, as used by
Goldsmith, equates saving with the change i n the level of
stocks; i.e. net worth, during an accounting period (using the
period's beginning and ending balance sheets) where net worth
equals assets less l i a b i l i t i e s . Saving is therefore equal to
the change in assets less the change in l i a b i l i t i e s .
Series B89, compiled by the C o m m e r c i a l and Financial
Chronicle, includes publicly listed issues by domestic, nongovernment-owned corporations for purposes of obtaining
new capital for new plant and equipment (construction and
additions), improvement to plant and equipment, repayment
of bank loans, acquisition of securities and other property,
working capital, and general corporate purposes. Figures i n
the late twenties, especially 1928 and 1929, include substantial
amounts of stock issues of investment trusts and holding
companies offered f o r the purpose of buying other securities.
Under the income approach, gross saving (series B92) plus
a statistical discrepancy equals gross investment (gross
private domestic investment and net foreign investment).
Stated alternatively, gross saving equals the sum of personal
saving, government saving, corporate saving, and capital
consumption allowances.
Securities issued for the purpose of r e t i r i n g outstanding
securities (refunding) are excluded. Also excluded are private
placements announced to the public after sale, intercorporate
transactions, public offerings of issues already outstanding
whose owners are m e r e l y disposing of them through public
sale, and debt issues of less than 1 year to maturity.
Corporate saving (series B96) as defined here includes
undistributed corporate profits (that portion of a f t e r - t a x
profits not distributed to stockholders); corporate inventory
valuation adjustment (equal to the excess of the value of the
change i n the volume of corporate business inventories,
valued at average prices during the period, over the change
in the book value of those inventories); and the excess of
wage accruals over disbursements (wages and salaries
earned but unpaid as of the end of the accounting period).
Estimates represent the par value for bonds, notes, and
p r e f e r r e d stocks with fixed par value, and the offering p r i c e
for common stocks and p r e f e r r e d stock with no par value.
Series B90, compiled by the Securities and Exchange
Commission, shows the net proceeds of foreign and domestic
corporate securities issued to obtain new capital for purposes
other than refunding. Included are a l l new issues in excess of
$100,000 and maturing i n more than 1 year offered f o r cash i n
the United States whether o r not registered under the
Securities A c t o f 1933, and whether privately placed or publicly
offered.
Excluded f r o m this series are issues sold through continuous offerings (e.g., open-end investment companies and employee purchase plans), intercorporate transactions, parts of
issues known to have been sold outside the United States and
notes sold to banks where banks are the sole purchasers.
Personal saving (series B94) represents that portion of
private saving made by o r for individuals (including owners
of unincorporated business) and nonprofit institutions.
Government saving (series B98) represents the government surplus (+) or deficit ( - ) on income and product transactions (equal to the difference between net government
receipts and expenditures in the National Income and
Product Accounts).
Capital consumption allowances (series BlOO) consist
of depreciation charges (including imputed depreciation on
owner-occupied dwellings) by corporate and noncorporate
business and accidental damage to fixed business capital
(losses due to f i r e s , natural causes, or other accidents not
covered by depreciation charges).
The combined balance sheet method used by Goldsmith
represents the sum of the balance sheets of a l l constituent
153
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
units of a group or sector, based as far as possible on a
comparable valuation of assets and l i a b i l i t i e s . Neither i n t e r group or intragroup c r e d i t o r - d e b t o r o r owner-issuer relationships are eliminated (i.e. l i a b i l i t i e s are not netted against
total assets), saving being equal to the change in assets less
the change i n l i a b i l i t i e s . The basic social accounting concept
of saving used by Goldsmith i n A Study of Saving i s : "The
c u r r e n t value of the change i n earned net worth of a l l economic
units i n the Nation (or of those f o r m i n g a group within the
Nation), including a l l types of n o n m i l i t a r y assets with an
expected service l i f e of m o r e than 1 year other than consumer
semidurable goods; excluding a l l revaluation changes f r o m the
calculation; using capital consumption allowances based on
replacement cost and spaced equally over the expected l i f e of
the asset; excluding discovery values ofnatural resources and
hence depletion allowances on such values; and including the
cost of change of hands of existing assets."
Gross annual saving (series B91) represents the sum of
the following saving components (social accounting concept):
Personal saving (series B93), corporate saving (series B95),
government saving (series B97), and capital consumption
allowances (series B99). The major differences between
Goldsmith's social accounting concept estimates and OBE's
estimates are in (1) method of derivation (balance sheet
versus income approach); (2) concept of saving (Goldsmith's
estimates generally include a l l f o r m s of saving included by
the Department of Commerce, plus purchases of consumer
durables); and (3) the basis for depreciation allowances
(Goldsmith bases depreciation allowances on replacement cost
and QBE on o r i g i n a l cost). Both Goldsmith and QBE exclude
saving i n the f o r m of capital gains and losses, additions to
m i l i t a r y assets, and s o i l improvement.
Sources: Series B91, B93, B95, B97, and B99, are f r o m
Raymond W. Goldsmith, A Study of Saving in the United States,
Volumes I, II, and III, National Bureau of Economic Research,
copyright 1955-56, Princeton University Press. (Used by p e r mission. This series may not be reproduced without w r i t t e n
permission f r o m the publisher.) Series B92, B94, B96, B98,
and BlOO, are f r o m Survev of Current Business, U.S. Department of Commerce, Office of Business Economics.
Series B l O l to B104
Net Public and Private Debt
These series measure the total public and private net i n debtedness of the total economy (series B l O l ) which is equal
to the sum of the component sectors: Net Federal, State, and
local government debt (series B102), net corporate debt
(series B103), and net noncorporate and individual debt (series
B104).
Net indebtedness is derived by subtracting f r o m gross
indebtedness c e r t a i n intrasector duplications. Gross debt i s
here defined to consist of a l l classes of legal indebtedness
except the following: (a) The deposit l i a b i l i t y of banks, saving
and loan associations, and c r e d i t unions, and the amount of
bank notes i n circulation; (b) the value of outstanding policies
and annuities of l i f e insurance c a r r i e r s and pension funds;
(c) the s h o r t - t e r m debts among individuals and among unincorporated nonfinancial business f i r m s ; and (d) the nominal
debt of corporations, such as bonds which are authorized but
unissued, o r outstanding but reacquired. Duplicating debts
154
are as follows: Holdings of Federal obligations by Federal
Government corporations o r agencies; State and local government securities held in sinking, trust, or investment funds by
either the issuer or other organization within the State and
local government sector; and corporate debt owed to other
members of an affiliated corporate system.
The data pertain to outstanding debt as of the end of the
calendar year except that of State and local governments
which is f o r June 30. These debt series are compiled by the
Office of Business Economics f r o m data collected by the
Departments of A g r i c u l t u r e , T r e a s u r y , and Commerce, the
Board of Governors of the Federal Reserve System, the
Federal Home Loan Bank Board, the Federal Deposit Insurance Corporation, and the Interstate Commerce Commission.
Source: Series B I O l to B104 are f r o m Survey of Current
Business, July 1960, and succeeding May issues, U.S. Department of Commerce, Office of Business Economics.
Series B105
Assets of Financial Intermediaries
This series includes the total tangible and intangible assets
of the following types of financial institutions and enterprises
(assets of financial intermediaries consist p r i m a r i l y of
intangibles; i.e. claims and equity securities): The banking
system, personal t r u s t departments, private and government
insurance organizations, savings and loan associations, credit
unions, sales and personal finance companies, land banks,
investment companies, investment bankers, and government
lending institutions. Excluded are investment counsel organizations, trustees other than banks and t r u s t companies, pawnbrokers, labor unions and foundations, the U.S. Treasury,
and a few groups of financial organizations known o r believed
to be of r e l a t i v e l y small size or for which no satisfactory
information was available such as c o m m e r c i a l paper and
discount houses, acceptance dealers, and t i t l e guaranty companies.
Financial intermediaries are organizations which
serve as a depository of funds f r o m savers and d i r e c t such
funds to economic units in need of external financing. The
asset values are for the end of the calendar year.
Source: Series B105 is f r o m Raymond W. Goldsmith, F i nancial Intermediaries i n the American Economy Since 1900,
National Bureau of Economic Research.
Series B106 and B107
Assets of A l l Banks
These series measure the total assets o r l i a b i l i t i e s , as of
June 30 of each year, of a l l banks in the United States. A bank
is defined here as any financial institution which accepts
deposits f r o m the general public o r conducts p r i n c i p a l l y a
fiduciary business. Included are national banks and chartered
State banks, loan and t r u s t companies, stock savings banks,
unincorporated or " p r i v a t e " banks, and mutual savings banks.
Other chartered institutions that are included because their
operations involve the receipts of deposits are cooperative
exchanges i n Arkansas, cash depositories i n South Carolina,
and M o r r i s Plan and industrial banks (unless engaged m e r e l y
in making loans and investments). Assets are the resources
of banks such as loans, investments, reserves, cash, and
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
balances with other banks. L i a b i l i t i e s are the obligations of
banks such as demand and time deposits and capital accounts.
The data for series B107 have been compiled f r o m the annual
reports and statistical publications and records of the Compt r o l l e r of the Currency, the Board of Governors of the Federal
Reserve System, the Federal Deposit Insurance Corporation,
and several private and unofficial compilations and records
and include a l l operating banks.
The data for series B106, which end with 1896, are based
on annual reports of the C o m p t r o l l e r of the Currency, supplemented by Executive Document reports to Congress by the
Secretary of the T r e a s u r y and interpolations to estimate
certain gaps in the data.
The figures shown include a l l
national banks and a l l State banks that voluntarily reported to
State banking departments including mutual and stock savings
banks, loan and t r u s t companies, and private banks. Data for
nonnational banks for the e a r l i e r years are reported for dates
other than June 30 and are known to be incomplete.
Source: Series B106, for 1860 to 1896, is f r o m H i s t o r i c a l
Statistics of the United States. Colonial Times to 1957.U.S.
Department of Commerce, Bureau of the Census. Series B107,
for 1896 to 1955, is f r o m Board of Governors of the Federal
Reserve System, A l l Bank Statistics, United States. 18961955; and for 1956 to date. Annual Report of the Federal
Deposit Insurance Corporation.
Series B108
Assets of Life Insurance Companies
T h i s series measures the total assets of private U.S. l i f e
insurance companies at the end of the calendar year. The bulk
of the assets are in holdings of bonds, mortgages, and stocks,
w i t h r e a l estate, policy loans, and miscellaneous assets
accounting for the remainder.
Currency held by the public includes that held by certain
financial institutions, such as saving and loan associations
and l i f e insurance companies. It excludes, however, currency
held by the U.S. Treasury, the Federal Reserve Banks, and
c o m m e r c i a l banks.
Demand deposits include deposits held in c o m m e r c i a l
banks and due to the public (including individuals, partnerships, and corporations), to financial institutions (e.g.,
saving and loan associations),mutual savings banks,foreigners
(including foreign banks in U . S . t e r r i t o r i e s and possessions),
and state and local governments. Deposits due to the Federal
Government or to other c o m m e r c i a l banks are not included.
Gross demand deposits contain a large element of duplication resulting f r o m the addition of checks to the accounts of
payees before deduction of such checks f r o m the accounts of
issuers.
Demand deposits are, therefore, "adjusted'* to
eliminate most of this double counting. The adjustment consists of deducting f r o m gross deposits "cash items i n process
of collection" as recorded on the books of c o m m e r c i a l banks
and (for series B l l O ) the Federal Reserve float (which represents an extension of Federal Reserve credit to member
banks and others to cover cash items i n process of collection
through the Federal Reserve System where the Federal
Reserve credits the reserve accounts of receiving banks before
deducting f r o m the reserve accounts of paying banks).
Series B i l l and B112 provide an alternative measure of
the money supply which includes, in addition to currency and
demand deposits, time deposits at commercial banks. T i m e
and saving deposits serve as a store of value which is nearly
as liquid as demand deposits and they may earn interest,
while under present law, no interest may be paid on demand
deposits. T i m e deposits l i k e demand deposits are adjusted
to eliminate interbank deposits and U.S. Government deposits.
The assets of private l i f e insurance companies are the
principal component of the assets of a l l insurance organizations which, together with the banking system, account for
a major portion of the Goldsmith assets of financial intermediaries series (B105) described above.
The distinction between demand and time deposits became
of major importance only after the Federal Reserve Act
(1914) introduced differential reserve requirements for the
two types. The Federal Reserve Board has, however, made
separate estimates of demand deposits back to 1892 which are
published in the Board's Banking and Monetary Statistics, 1943.
Source:
Series B108 is f r o m L i f e Insurance Fact Book, I n s t i tute of L i f e I n s u r a n c e .
More details concerning the money supply series may be
found in the sources cited below.
Series B109 to B112
Money Supply; Currency Plus Demand Deposits Adjusted (Plus
Time Deposits Adjusted)
The money supply (series B109 and B l l O ) is defined by the
Board of Governors of the Federal Reserve System as the total
of the public's holdings of currency (including coin) and demand
deposits at banks. These are the only financial instruments
that p e r f o r m each of the three economic functions of money:
They provide a medium of exchange, act as a readily available
(liquid) store of value, and provide a standard of value. A l though many other financial instruments p e r f o r m , in some
degree, the functions of money, p a r t i c u l a r l y that of providing
a store of value, only the above-mentioned instruments
p e r f o r m a l l three.
F u r t h e r m o r e , currency and demand
deposits provide a measure which i s closely related to the
mechanisms through which money is created and extinguished.
Sources: Series B109 and B i l l are f r o m M i l t o n Friedman
and Anna J. Schwartz, A Monetary H i s t o r y of the United States,
National Bureau of Economic Research. Series B l l O and B112
are f r o m the Federal Reserve Bulletin, August 1962 and later
issues. See also, "A New Measure of the Money Supply," in
the October 1960 Federal Reserve Bulletin.
Series B113 to B115
Velocity of Money Supply
These series measure the value of output (or money income)
relative to the supply of money. They are measures of the
average rate of turnover per year of the money supply.
Series B113 and B114 are equal to GNP in current dollars
(series A8) divided by the f i r s t alternative of the money supply
described above, currency plus demand deposits (series B109
and B l l O respectively).
155
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series B115 i s equal to c u r r e n t - d o l l a r net national product
estimates (the c u r r e n t - d o l l a r counterpart of series A6) developed by Kuznets and Kendrick, divided by the second
alternative of the money supply described above, currency
plus demand deposits, plus time deposits (series B i l l and
B112 respectively).
Sources: Series B113 and B114 were derived f r o m series
B109, B l l O , and A8; series B U S is f r o m Milton Friedman
and Anna J. Schwartz, A Monetary H i s t o r y of the United
States, 1867-1960, National Bureau of Economic Research.
Series B116 and B117
Monetary Gold Stock
These series, f r o m 1869 through January 1934, measure
the amount of gold coin i n c i r c u l a t i o n and gold held by the
U.S. T r e a s u r y and Federal Reserve Banks and, f r o m January
31, 1934, to date, gold held by the U.S. T r e a s u r y exclusive of
r e l a t i v e l y s m a l l amounts held since A p r i l 1934 in the Exchange
Stabilization Fund of the Secretary of the Treasury.
Data f r o m 1914 through January 1934 include the $287
m i l l i o n of gold coin outstanding after the expiration date for
the surrender of gold to the U.S. Government on January 30,
1934. The increase i n the gold stock in 1934 is due p r i n c i p a l l y
to the change i n the p r i c e of gold f r o m $20.67 a fine ounce to
$35 a fine ounce which o c c u r r e d in January 1934.
Source: Data f o r Series B116, 1869 to 1913, are annual
averages centered on June 30 supplied by the National Bureau
of Economic Research. Series B117, 1914 to date, is f r o m the
Board of Governors of the Federal Reserve System, Banking
and Monetary Statistics and Federal Reserve Bulletin—annual
averages of end-of-month data centered on June 30 plus $287
m i l l i o n for 1914 to January 1934. The addition of $287 m i l l i o n
to the published Federal Reserve Board gold stock figures for
this period was made to achieve continuity with the data for the
1869 to 1913 period (see F r i e d m a n and Schwartz, A Monetary
H i s t o r y of the United States, 1867-1960, footnote on pages
463-64; and page 407 in Banking and Monetary Statistics).
Series B U S and B119.
Balance of Payments
These series present statistics on the U.S. international
balance of payments measured on a liquidity basis (series
B118) and on an o f f i c i a l reserve transactions basis (series
B119).
The balance of payments is a summary of the economic
transactions between residents of the United States and
those of other countries. These transactions are recorded
on the basis of. double entry bookkeeping principles, with
each transaction consisting of a c r e d i t and a debit entry.
A transfer or r e a l o r financial assets to foreigners is considered a c r e d i t ; a transfer of r e a l or financial assets f r o m
foreigners to domestic residents a debit. The total of a l l
credits and debits during any one period must be equal.
Therefore, since statistical information on most c r e d i t and
debit transactions comes f r o m separate sources and for
some transactions no data are available, a statistical discrepancy called " e r r o r s and omissions'* arises.
Errors
156
and omissions are entered with the sign that is r e q u i r e d
to equalize total credits and debits.
The balance on l i q u i d i t y basis is measured by the increase
in U.S. o f f i c i a l reserve assets, plus the decrease in government and private liquid l i a b i l i t i e s to ^
foreign accounts.
The balance on the basis of o f f i c i a l reserve transactions
is measured by the increase in U.S. o f f i c i a l reserve assets,
plus the decrease i n government and private liquid and
certain nonliquid l i a b i l i t i e s to foreign o f f i c i a l agencies (off i c i a l agencies include foreign central banks and o f f i c i a l
government agencies holding or managing international reserve
assets). U.S. o f f i c i a l reserve assets consist of the monetary
gold stock, convertible currency holdings by U.S. authorities,
and the U.S. gold tranche position i n the International Monetary
Fund.
L i q u i d l i a b i l i t i e s include demand deposits, time deposits for 1 year o r less, negotiable T r e a s u r y obligations
and negotiable privately issued money market paper. Nonliquid l i a b i l i t i e s to foreign o f f i c i a l agencies are i n f o r m s
such as government issued noninterest-bearing securities
associated with government grants and capital outflows, nonconvertible nonmarketable m e d i u m - t e r m securities, and other
nonliquid c l a i m s on the U.S. Government, and various shortt e r m and l o n g - t e r m nonliquid claims by foreign o f f i c i a l
agencies as indicated above on U.S. private banks and other
private enterprises.
Sources:
Series B118, f r o m 1919 to 1959, are f r o m Balance
of Payments (1963) and, for 1960 to date, f r o m Survey of
Current Business.
U.S. Department of Commerce Office
of Business Economics.
Series B119, for 1959 to 62 are
f r o m Economic Indicators, U.S. Congress, Joint Economic
Committee, and f o r 1963 to date. Survey of C u r r e n t Business,
Office of Business Economics.
Series B120 and B121.
Balance on Goods and Services
These series measure the excess of exports of goods
and services (excluding m i l i t a r y grant aid) over imports.
Series B121 is the same as A32 except that i t is i n current
dollars.
Series B120, which covers the years 1861 to 1918, is that
shown in H i s t o r i c a l Statistics of the United States. The data
were o r i g i n a l l y derived by private investigators and r e a r ranged and adjusted by OBE for H i s t o r i c a l Statistics. The
p r i n c i p a l source was Matthew Simon's "The United States
Balance of Payments, 1861-1900" i n Trends in the American
Economy in the Nineteenth Century, NBER.
Source:
Series B120 i s f r o m H i s t o r i c a l Statistics of the
United States, U.S. Department of Commerce, Bureau of
the Census.
Series B121 is f r o m the Survey of Current
Business.
See also H i s t o r i c a l Statistics and Balance of
Payments:
Statistical Supplement, Revised Edition, 1963,
Office of Business Economics, U.S. Department of Commerce.
Series C I to C60
P e r Capita Personal Income f o r the United States, Census
Geographic Divisions, and 50 States
Series C61 to C70
Personal Income f o r the United States and Census Geographic
Divisions
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Series C71 to 80
Population f o r the United States
Divisions
Source
Personal income i s the c u r r e n t income received by
residents of the area f r o m a l l sources, inclusive of transfers
f r o m government and business but exclusive of transfers
among persons. It is a before-tax measure and includes both
cash income and allowance for income received in kind. The
totals for the United States (series C I and C61) differ f r o m
the personal income series included i n the Office of Business
Economic's national income and product accounts because the
income disbursed by the Federal Government to its c i v i l i a n
and m i l i t a r y personnel outside the United States is excluded
f r o m the State series.
Two limitations in the use of personal income, as defined,
as a measure of regional growth are (1) the differences
between estimates for income received and income produced
and (2) the reflection o f p r i c e - l e v e l changes as well as changes
i n actual volume of activity in the c u r r e n t - d o l l a r figures.
They are discussed in source references 1 to 5, below. For
some purposes, disposable personal income in constant prices
by States, f o r the years 1929 to 1963, i n source reference 5
may be preferable.
The State income estimates of Richard A. Easterlin, in
source reference 3, for the years 1880 and 1900 do not relate
specifically to those years. The data are a composite of the
actual years and adjacent years and are approximately representative of the situation around 1880 and 1900. His estimates for the period 1919 to 1921 are averages of the three
annual estimates of Maurice Leven's i n Income in the Various
States (NBER, 1925) after adjustments were made for minor
conceptual differences.
Series C I to CIO, the per capita personal income series for
the United States and the nine geographic divisions, were
derived by dividing the population series C71 to C80 into the
corresponding personal income series C 6 l to C70.
Series C l l to C60, the per capita personal income series
for the individual states, were obtained f r o m source references
3, 4, and 7.
Series C 6 l toC70, the personal income for the United States
and the nine geographic divisions are summations of State
personal income obtained f r o m source reference 3 for the
years 1880, 1900, and 1919-1921 average; and f r o m source
references 6, and 7 for the years 1929 to present.
Series C71 to C80 are the resident population data of the
United States and the nine geographic divisions. The figures
include the A r m e d Forces stationed in each State. The
decennial years 1860 to 1890 were obtained f r o m source
reference 8.
These data are as of June 1 and include
estimates for some t e r r i t o r i e s . Data for the years 1900 to
1940 and 1948 to the present are as of July 1 and were obtained
f r o m source references 9 to 11. In order to make the per
capita personal income series comparable with those of the
Department of Commerce, Office of Business Economics, the
population data for the years 1941 to 1947 were obtained f r o m
source reference 4. For these years, the Office of Business
Economics uses midyear estimates of c i v i l i a n population by
the Bureauof the Census plus the number of m i l i t a r y personnel
as derived f r o m information supplied by the m i l i t a r y services.
References:
and Census Geographic
1. George H. Borts, "The Estimation of Produced Income by
State and Region," The Behavior of Income Shares, Studies
in Income and Wealth, Vol. 27. National Bureau of Economic
Research, 1964.
2. Regional Income, Studies in Income and Wealth, Vol. 21.
National Bureau of Economic Research, 1957.
3. F o r the years 1880,1900, and 1919-1921 average: Richard
A. Easterlin, "State Income Estimates," Vol. I of Population
Redistribution and Economic Growth, United States, 18701950, edited by Simon Kuznets and Dorothy S. Thomas, the
American Philosophical Society, 1957.
4. F o r the years 1929 to 1947: Personal Income by States,
Since 1929, U.S. Department of Commerce, Office of Business
Economics.
5. Survey of Current Business, A p r i l 1965, U.S. Department
of Commerce, Office of Business Economics.
6. F o r the years 1929 to 1947: Survey of Current Business,
September 1955, U.S. Department of Commerce, Office of
Business Economics.
7. For the years 1948 to present: Survey of Current Business,
A p r i l 1966, U.S. Department of Commerce, Office of Business
Economics.
8. F o r the decennial years 1860 to 1890: U.S. Census of
Population: 1960, Vol. I, P a r t A, table 9, U.S. Department of
Commerce, Bureau of the Census.
9. F o r 1900 to 1940 and 1948 to 1949: Current Population
Reports, Series P-25, No. 139, U.S. Department of Commerce,
Bureau of the Census.
10. For the years 1950 to 1959: Current Population Reports,
Series P-25, No. 304, U.S. Department of Commerce, Bureau
of the Census.
11. For the years 1960 to present: Current Population
Reports, Series P-25, No. 324, U.S. Department of Commerce,
Bureau of the Census.
Series 081 to C90
Value Added by Manufacture f o r the United States and Census
Geographic Divisions
Series 091 to ClOO
Manufacturing Employment f o r the United States and Census
Geographic Divisions
These series, compiled in the census of manufactures,
measure the value added, i n current dollars, and average
annual employment in manufacturing establishments in the nine
geographic divisions and total United States.
Value added is defined as the difference between the value
of shipments of manufactured products of manufacturing
establishments (plus receipts for services rendered) and their
cost of materials, supplies, containers, fuel, purchased
157
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
electric energy, and contract work. It is considered to be the
best census value measure available for making comparisons
of the relative economic importance of manufacturing i n
geographic regions. F o r 1956 and later years, value added
by manufacture has been adjusted to include the value added
by merchandising operations of manufacturing establishments
and the net change in their inventories. F o r 1933 and p r i o r
years, the cost of contract work was not subtracted f r o m the
value of shipments in calculating value added.
Manufacturing employment represents an annual average
of f u l l - and p a r t - t i m e employees on the payroll of operating
manufacturing establishments during selected pay periods of
each year. O r d i n a r i l y , i t does not include employees r e ported at central administrative offices and certain auxiliary
operations of multiplant manufacturing companies, such as
central warehouses and research and development laboratories. Such centralized management and support service
employees in 1958 represented about 4 percent of the a l l manufacturing employment in 1958. F o r 1939 and later years,
the data include employees at manufacturing establishments
who were engaged in distribution and construction. The
extent to which such employees were included i n figures for
e a r l i e r years is not known.
Data are shown f o r selected census years (1899,1909, 1919,
1929, 1939, 1947, 1954, 1958, and 1963). Also, data appear
for the years 1949 to 1953, 1955 to 1957, 1959 to 1962, and 1964
f r o m the annual survey of manufactures. Data p r i o r to 1899
are not shown, because of the inclusion of hand and neighborhood manufacturing activities. Comparable data for other
census years between 1899 and 1939 are not available by
geographic division.
Data f o r the nine Census geographic divisions p r i o r to
1939 have not been adjusted to reflect the subsequent r e classification of some industries out of manufacturing. The
aggregates of the nine divisions, therefore, average about 4
percent above the published national totals, which have been
adjusted for these e a r l i e r years. These gross aggregates
were used in calculating the regional percentages of the
national average, but are not shown as a series in this report.
Sources: F o r the years 1899 through 1947 and 1954 through
1957 data are f r o m 1957, U.S. Census of Manufactures: 1958
Volume I I I Area Statistics: for 1949 through 1953, U.S.
Census of Manufactures: 1954, Vol. IIL Area Statistics; for
1959 and 1960, Annual Survev of Manufactures, 1961; for 1958,
1961, and 1962, Annual Survey of Manufactures, 1962; for
1963, U.S. Census of Manufactures: 1963, "General Statistics
for States," p r e l i m i n a r y r e p o r t MC63(P)-9; and for 1964,
p r e l i m i n a r y data f r o m the Annual Survev of Manufactures,
1964.
Series ClOl to CllO
New Capital Ejqpenditures and Gross Book Value of Assets
for the United States and Census Geographic Divisions
The capital expenditure series, collected i n the census of
manufacturers, measure the expenditures for new plant and
new equipment, in c u r r e n t dollars, by manufacturing establishments in the nine Census geographic divisions and the
total United States.
158
New capital expenditures include expenditures f o r new
structures, permanent additions, and major alterations to
plants, and expenditures f o r new machinery and new equipment,
that are chargeable to fixed-asset accounts and for which
depreciation accounts are n o r m a l l y maintained. Expenditures
for machinery and equipment include those made for replacement purposes as w e l l as for additions to plant capacity. They
do not include costs of maintenance and r e p a i r s charged as
current expense. Also excluded are expenditures for land,
used plant, and used equipment, and expenditures made by
owners of plants and equipment leased to reporting manufacturers. Before 1951, the series do not include expenditures
for plants under construction which are not yet in operation, or
idle plants.
The data on gross book value of depreciable o r depletable
assets encompass a l l fixed depreciable o r depletable assets
on the books of the establishment at the end of the year. The
value shown (book value) represents the actual cost of the
assets at the t i m e of purchase including a l l costs i n c u r r e d in
making the asset usable (such as transportation and installation). Figures on accumulated depreciation and depletion as
well as allowances charged to depreciation o r depletion for the
c u r r e n t year are available i n the census of manufactures r e ports but are not included i n this report.
New capital expenditure data are shown f o r census years
1939, 1947, 1954, 1958, and 1963 and also for the years 1951 to
1953, 1955 to 1957, 1959 to 1962, and 1964, the latter data
coming f r o m the annual survey of manufactures. Gross
book values of assets are shown as of December 31, 1957.
Also shown are expenditures, c o v e r i n g t h e p e r i o d July 1940
to May 1944, for new plant and equipment authorized by the
War Production Board.
These data were converted to an
annual rate by the Census Bureau for this report.
Sources: F o r 1939, data are f r o m U.S. Census of Manufactures: 1939, Vol I, Statistics by Subjects; July 1940 to May
1944 annual rate is f r o m the Geographic Distribution of
Manufacturing F a c i l i t i e s Expansion, July 1940 - May 1944,
U.S. War Production Board; for 1947, f r o m U.S. Census of
Manufactures: 1947, Vol. I, General Summary; for 1951
through 1953, f r o m U.S. Census of Manufactures: 1954,
Vol. I, Summary Statistics; and for 1954 through 1958, f r o m
U.S. Census of Manufactures: 1958, Vol. I, Summary Statistics.
F o r 1958 through 1962, data are f r o m the Annual
Survey of Manufactures, 1962, and for 1963, U.S. Census of
Manufactures: 1963, "General Statistics for States," pre-^
l i m i n a r y r e p o r t MC63(P)-9; and for 1964, p r e l i m i n a r y data
f r o m the Annual Survey of Manufactures,, 1964.
Series C l l l to C209
National Income by Industry
National income by industry of o r i g i n represents the income
accruing to the various factors of production involved i n p r o ducing an industry's output.
This income is the sum of
employee compensation, p r o p r i e t o r s income, corporate
earnings, net interest, and rental income. Series AlO and
A54 to A58 present more detailed discussions of national
income.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Data for 1929 to 1947 are based on the 1942 Standard
Industrial Classification (SIC) and data for 1948 to 1965 on the
1957 SIC (See the 1957 edition of the Standard Industrial
Classification Manual and its supplement (1963) issued by the
U.S. Bureau of the Budget, Executive Offices of the President.
This manual was prepared by experts in government and
private industry.) Data are not s t r i c t l y comparable between
the two periods and, where necessary, adjustments have been
made to insure comparability for growth rates.
T h e M a r t i n series on Realized National Income (series
c m to C121) and the Kuznets series on Net Income O r i g i nating (series C122 to C131) exclude corporate profits taxes
and include interest on government debt, whereas the Department of Commerce series on National Income (series CI32
to C199) include corporate profits taxes and exclude interest
on government debt.
In addition, undistributed corporate
p r o f i t s are not included in the M a r t i n series, but are i n the
Kuznets and Department of Commerce series.
Sources: Data f o r 1869 to 1937 are f r o m Robert F. Martin,
National Income in the United States, 1799-1938, National
Industrial Conference Board, 1939. Data f o r 1919 to 1937
are f r o m Simon Kuznets, National Income and Its Composition, 1919-1938, National Bureau of Economic Research.
Data for 1929 to the present are f r o m the Survey of Current
Business, U.S. Department of Commerce, Office of Business
Economics.
Series C210 to C234
Persons Engaged in Production by Industry
These series represent the number of persons engaged i n
producing an industry's output. The Kendrick series (C210
to C220) and the Commerce series (C221 to C234) are components of series A81 and A82, respectively. Series A81 and
A82 present a more detailed discussion of persons engaged.
Sources: Data for 1869 to 1927 are f r o m John W. Kendrick,
Productivity Trends in the United States, National Bureau of
Economic Research. Data for 1929 to date are f r o m Survey
of Current Business, U.S. Department of Commerce, Office
of Business Economics.
Series C248 to 267
Value Added by Manufacture, A l l Manufacturing and M a j o r
Industry Groups
These series, compiled i n the census of manufactures,
measure value added by manufacturing establishments by
major industry groups (2-digit SIC) and value added in a l l
manufacturing, i n c u r r e n t dollars. (See the 1957 edition of
the Standard Industrial Classification Manual and its supplement (1963) issued by the U.S. Bureau of the Budget, Executive
Offices of the President.
This manual was prepared by
experts in government and private industry.)
Value added is defined as the difference between the value
of shipments of manufactured products (plus receipts for
services rendered) of manufacturing establishments and their
cost of materials, supplies, containers, fuel, purchased
electric energy and contract work. It i s considered to be the
best census value measure available for making comparisons
of the relative economic importance among manufacturing
industries. F o r 1954 and later years, value added by manufacture has been adjusted to include the value added by
merchandising operations of manufacturing establishments
and the net change i n their inventories. For 1933 and p r i o r
years, the cost of contract work was not subtracted f r o m the
value of shipments in calculating value added.
Data are shown for eachcensusof manufactures year since
1899, as w e l l as for the years 1949 to 1953, 1955 to 1957, and
1959 to 1962 and 1964, in which the Annual Survey of Manufactures was conducted. Data p r i o r to 1899 are not shown,
because of the inclusion of hand and neighborhood manufacturing activities in the e a r l i e r census totals.
The data for several major industry groups, for years
p r i o r to World War II, could not be adjusted to reflect subsequent shifts in the classification of manufacturing industries f r o m one major group to another or the r e c l a s s i fication of some activities out of the manufacturing sector.
(This causes the percentages for some p r e - W o r l d War I I years
to add to slightly more than 100 percent even though m i s cellaneous manufacturing i s not shown.) For purposes of this
r e p o r t , therefore, i t was necessary to combine e a r l i e r census
data for the major groups involved in such classification
changes, i n order to minimize the existing h i s t o r i c a l noncomparability.
These series measure the physical volume of GNP o r i g i nating i n an industry o r the contribution of the industry to the
Nation's total output of final goods and services. See series
A2 for a description of GNP. These series have not been
revised to reflect the definitional and statistical revisions
introduced in the National Income and Product Accounts by
OBE in 1965, and are shown i n 1954 dollars.
Note that the data f r o m p r e - W o r l d War II Census of Manufactures volumes (see "sources" below) are not exactly comparable with present SIC definitions and often do not provide
a continuous series. F o r example, value-added figures for
tobacco manufacturers before 1931 include internal revenue
taxes. F o r this reason, value-added data f o r certain of the
industry groups are not shown in appendix 3 for these early
years and percentages are not shown in table 5 for m i s c e l laneous manufacturing. The Census of Manufactures reports
should be consulted for further details concerning the noncomparability for individual industry groups.
Source: Series C235 to C247 are f r o m Survey of Current
Business, October 1962 and September 1964 issues. U.S.
Department of Commerce, Office of Business Economics.
These series w i l l appear i n a future issue of Survey of Current
Business on the revised basis.
Sources:
The 1899 data for SIC 20, 21, 33, 34, 35, and 37 are f r o m
Abstract of the Census of Manufactures, 1914. The 1904 to
1909 data for SIC 20, 21, 22, 34, 35, and 37 are f r o m Abstract
of the Census of Manufactures, 1919.
Series 10235 to C247
Gross National Product by Industry
159
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
The 1914 to 1919 data f o r SIC 20, and the 1914 to 1927 data
for SIC 21, 33, 34, 35, and 37 are f r o m the 1929 Census of
Manufactures.
The 1929 data for SIC 33 and 34 and the 1929 to 1935 data for
SIC 35 and 37 are f r o m the 1935 Census of Manufactures.
The 1931 to 1935 data for SIC 21, 33, and 34 are f r o m the 1937
Census of Manufactures.
The 1899 to 1957 data for a l l manufacturing; for SIC 22 to 32,
36, and 38; for SIC 20 beginning in 1921; for SIC 21 beginning
in 1931; and for SIC 33 to 35 and SIC 37 beginning i n 1937 are
f r o m the 1958 Census of Manufactures.
The 1959 and 1960 data are f r o m the 1961 Annual Survey of
Manufactures and the 1958, 1961, and 1962 data are f r o m the
1962 Annual Survey. The 1963 data are f r o m the 1963 Census
of Manufactures and the 1964 data are f r o m the 1964 Annual
Survey.
Percentages shown i n table 5 for SIC groups 33 and 34
combined were derived by summing the " i r o n and steel and
their products, not including machinery'' group and the "nonferrous metals and their products" group f r o m e a r l i e r census
volumes for years before 1937. SIC 35 was obtained by subtracting " e l e c t r i c a l machinery, apparatus and supplies" f r o m
the "machinery, not including transportation equipment" group
for 1914 through 1935. SIC 37 consists of the "transportation
equipment, a i r , land, and water" group f r o m 1914 to 1933 and
the "vehicles for land transportation" group before 1914.
Series C268 to C306
Indexes of Production
Industry Groups
f o r A l l Manufacturing and M a j o r
These indexes compiled by the Board of Governors of the
Federal Reserve System measure the changes in the physical
volume of production in the major industry groups (2-digit
SIC) and in a l l manufacturing. The all-manufacturing index
accounts for about 85 percent of total industrial production
(series A16).
Many of the annual series are based on data collected i n
the census of manufactures. Other sources include the Bureau
of Mines, the Internal Revenue Service, and various trade
associations.
To compute the 1923-26 business cycle average, i t was
necessary to rebase the data for this period since i t was on a
1935-39 = 100 base as compared to a 1957-59 = 100 base for
the data for 1947 to date. This was done by multiplying the
annual data for 1923 to 1926 by the r a t i o of the two 1947
figures.
Also, this base revision caused some discontinuities at the
group level and i t was necessary to combine certain groups
in the 1947 to 1953 period. Four such combinations were
necessary.
1. " I r o n and Steel" and "Nonferrous Metals and Products"
were combined into " P r i m a r y and Fabricated Metals";
2. "ManufacturedFood Products" and, "Alcoholic Beverages" were combined into "Foods and Beverages";
160
3. "Textiles and Products" became " T e x t i l e M i l l P r o d ucts" and "Apparel Products";
4. "Machinery" became "Nonelectrical Machinery" and
" E l e c t r i c a l Machinery."
For those combinations not published as such, the technique
used at the Census Bureau was to multiply the annual data for
a group by the 1935-39 or 1957-59 weight assigned the group
(in the total index), add the two such weighted groups together
year by year, and then divide each sum by the total of the two
weights used.
Sources: Series C268 to C285 are f r o m Revision of Industrial
Production Index, October 1943; Industrial Production, by
Industries, Annual Indexes 1935-39 = 100, June 1954; Series
C286 to C306 are f r o m Industrial Production, 1957-59 Base,
Industrial Production Indexes, 1961-64, September 1965;
Federal Reserve Statistical Release, Business Indexes, May
1966, Board of Governors of the Federal Reserve System.
Series C307 to C431
Indexes of Production, Industry Components
These indexes are components of series C286 to C306
described above. Basic data for these components are not
shown i n appendix 3, but titles and selected growth rates are
shown i n chart 14.
Sources: Industrial Production, 1957-59 Base, Industrial
Production Indexes. 1961-1964. September 1965, Federal
Reserve Statistical Release, Business Indexes, May 1966.
Series C432 to C646
Value Added by Manufacture, 4 - D i g i t SIC Industries
These series are components of series C248 to C267
described above. Basic data for the 4 - d i g i t industries are
n o t s h o w n i n a p p e n d i x 3, b u t t i t l e s and s e l e c t e d p e r c e n t a g e
changes are shown i n chart 15.
Sources: Data for 1947 to 1963 are f r o m the 1963 Census
of Manufactures, data for 1964 are f r o m the 1964 Annual
Survey of Manufactures.
Series D1 to D7
Total Output f o r the United States and Six Countries, Indexes:
1913 = 100
These series measure the total output of the United States
(series D l ) , Japan (series D2), West Germany (series D3), the
United Kingdom (series D4), France (series D5), Italy (series
D6), and Canada (series D7). They r e f e r , in most cases, to
gross domestic product at market prices, although i n some
cases to net and/or national product.
Maddison has adjusted the data f r o m various government
and private sources to conform as closely as possible to the
Organisation for Economic Cooperation and Development
(OECD) definitions (see series D8 to D14) and, where
necessary, has adjusted the h i s t o r i c a l series to reflect
present geographic boundaries.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
For the United States, Maddison used Kendrick's Commerce
Department concept estimates of gross domestic product
(series A1 less estimates of income f r o m abroad), for 1889
to 1938. He adjusted the figures for 1913 to 1938 upward to
include depreciation on government property using Goldsmith's
estimates ( f r o m A Study of Saving). This adjustment ranged
f r o m 0.5 percent of GNP in 1913 to 2.0 percent i n 1933. F o r
1871, Maddison raised the published Kuznets figure (Variant
I I I concept of GNP) by 15 percent (see series A3).
In preparing the data for the other countries, Maddison has
used many different sources. For the years 1870 to 1938
his sources include the following:
France: Colin C l a r k , Conditions of Economic Prepress
3 r d edition, Macminan. London. 1957:1. Svennilson, Growth
and Stagnation in the European Economy, E.C.E., Geneva,
1954;
Germany: W. G. Hoffmann and J. H. M u l l e r , Das Deutsche
Volkseinkommen, 1851-1957, Tubingen, 1959; A. Jacobs and
H. Richter, "Die Grosshandelspreise in Deutschland von
1792 bis 1934," Sonderheft des Instituts fur Konjunkturforschung, No. 37 B e r l i n , 1935; Ferdinand Grunig, "Die
Anfange der Volkswirtschaftlichen Gesamtrechnung in
Deutschland," Beitrage zur empirischen Konjunturforschung, B e r l i n , 1950; Statistisches Jahrbuch fur die
Bundesrepublik Deutschland 1961;
Italy: Annali d i Statistica, Serie VIII, Volume 9, Instituto
Centrale d i Statistica, Rome, 1957;
United Kingdom: James B. Jefferys and Dorothy Walters,
"National Income and Expenditure of theU.K., 1870-1952,"
Income and Wealth, Series V, Bowes and Bowes, London,
1955; Colin Clark, op. c i t . ;
Canada: O. J. Firestone, Canada's Economic Development
1867-1953, London, 1958; National Accounts Income and
Expenditure, 1926-56, Dominion Bureau of Statistics,
Ottawa.
For 1938 to 1955, Maddison has r e l i e d on data f r o m various
OECD publications.
The data presented in this report are essentially the same
as those in Economic Growth i n the West, except for revised
figures to be presented in a forthcoming publication by
Maddison, The Economics of Maximum Growth. Data in
appendix 3 are shown to 1964. These figures show the same
movements as the OECD data, except for France and West
Germany. Maddison's data include revisions not shown in the
latest OECD publication. Also, Maddison has adjusted the
OECD data for West Germany to exclude the Saar and West
B e r l i n for 1960 to data.
Sources: Series D I to D7 are f r o m Angus Maddison, Economic
Growth in the West, Twentieth Century Fund, and The Eco-^
nomics of Maximum Growth, forthcoming.
Series D8 to D14
Gross National Product for the United States and Six Countries
These series measure r e a l GNP at market prices for the
United States and six other countries.
GNP is defined by the Organisation for Economic Cooperation and Development (OECD) as the market value of the
output of goods and services free of duplication produced by
the Nation's economy before deduction of depreciation and
other operating provisions. To secure better intercountry
comparability, the concepts and definitions of the Standardized
System of National Accounts (OEEC, P a r i s 1958) were used
by the OECD to adjust the published country statistics whereever possible. The o f f i c i a l U.S. gross national product series
(A2) was adjusted by adding m i l i t a r y r e t i r e m e n t and mustering out payments, research transfers by Department of
Defense and Atomic Energy Commission, assumed depreciation on government buildings, and certain personal taxes,
and by subtracting net interest originating in households and
institutions. In 1960, the net effect of these adjustments was
plus 961 m i l l i o n c u r r e n t dollars or 0.2 percent of total GNP.
The adjustments for the United Kingdom and Canada were
both less than 1 percent. The adjustment for France was
plus 12 percent; for Italy plus 5 percent. Germany received
no adjustment.
For a detailed explanation, see "Notes on
Sources and Adjustments," in Statistics of National Accounts,
1950-1961, published by the OECD.
The data for GNP of West Germany include the Saar and
West B e r l i n f r o m 1960 forward. The data for GNP of France
contain important revisions for the years 1958 to 1964 which
have not been c a r r i e d back to the data for previous years.
Source: Series D8 to D14 are f r o m National Accounts Stat i s t i c s . 1955-1964. M a r c h 1966, Organization for Economic
Cooperation and Development ( f o r m e r l y Organisation for
European Economic Cooperation, OEEC).
Series D15 to D27
Employment for the United States and Six Countries
These series measure total c i v i l i a n employment for the
United States (series D15, D21), Japan (series D22), West
Germany (series D16, D23), the United Kingdom (series D17,
D24), France (series D18, D25), Italy (series D19, D26),
and Canada (series D20, D27).
Data for 1870 to 1950 (1954) are f r o m Maddison who has
derived the employment figures by adjusting labor force data
by the unemployment rate. F o r 1870to 1913, he assumed that
the labor force moved p a r a l l e l to the population of working
age (15 to 64years). F o r l 9 1 3 t o 1950, the labor force figures
were obtained by interpolating labor force activity rates
between population census years. Definitions of the active
labor force and of persons considered unemployed vary among
these countries and therefore affect the comparability of the
data.
Data for 1950 (1954 for France and Italy and 1953 for Japan)
to date are f r o m the OECD which defines a person as
employed if he is above a specified age (varying among
countries) and is either at work or has a job but is t e m p o r a r i l y
absent. Also included are employers and persons working on
their own account, and unpaid f a m i l y workers who work at
least o n e - t h i r d of the normal working time. Specifically
excluded are w o r k e r s t e m p o r a r i l y laid off for an indefinite
period without pay, and unpaid f a m i l y workers devoting less
161
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
than one-third the n o r m a l working time in a f a m i l y business
or f a r m .
This is only a recommended definition and the
actual data for most of the countries do not f i t the definition
in some respects.
The estimates for the United States are the same as those
published by the Bureau of Labor Statistics based on labor
force data (series A80).
Sources: Data for 1870 to 1950 are f r o m Angus Maddison,
Economic Growth In The West, Twentieth Century Fund. Data
for 1950 to 1953 are f r o m Manpower Statistics, 1950-1962,
OECD. Data for 1954 to 1964 are f r o m Manpower Statistics,
1954-1964, OECD.
Series D28 to D40
Output Per Employee f o r the United States and Six Countries
These series measure total output per employee for the
United States (series D28, D34), Japan (series D35), West
Germany (series D29, D36), the United Kingdom (series
D30, D37), France (series D31, D38), Italy (seriesD32, D39),
and Canada (series D33, E40).
These series were derived by dividing the output series
(D1 to D14) by the appropriate employment series (D15 to
D27).
Sources:
F o r series D28 to D40, see sources for series
D1 to D14 and D15 to D27.
Series D41 to D53
Population f o r the United States and Six Countries
These series measure population for the United States
(series D41, D47), Japan (series D48), West Germany (series
D42, D49), the United Kingdom (series D43, D50), France
(series D44, D51), Italy (series D45, D52), and Canada (series
D46, D53).
Data for 1870 to 1950 are f r o m Maddison who has adjusted
country estimates to r e f e r to constant t e r r i t o r y .
Data for 1950 to date are f r o m the OECD which defines
population to include all nationals present in or t e m p o r a r i l y
absent f r o m the country and aliens permanently settled in the
country. Data r e f e r to midyear and to the t e r r i t o r y of the
country in 1964.
The population estimates f o r the United States d i f f e r f r o m
those of series A106 for the years 1950 to 1959 because of
the inclusion of estimates for Hawaii and Alaska by the OECD.
Sources:
Same sources as for series D15 to D27.
Series D54 to D66
P e r Capita Gross National Product f o r the United States and
Six Countries
These series measure total output per capita for the United
States (series D54, D60), Japan (series D61), West Germany
(series D55, D62), the United Kingdom (series D56, D63),
162
France (series D57, D64), Italy (series D58, D65), and Canada
(series D59, D66).
These series were derived by dividing the output series
(D1 to D14)bythe appropriate population series (D41 to D53).
Sources: F o r series D54 to D66, see sources for series
D1 to D14 and 041 to D53.
Series D67 to D87
Percent Distribution by Industry, of National Product, Current
P r i c e s f o r the United States and Six Countries
These series show the percent distribution of national
product (sometimes national income) by two major industrial
divisions, agriculture (including f o r e s t r y and fishing for
France, Italy, Canada, and Japan) and manufacturing, construction, and mining. Also shown is the percent of output
originating i n a l l other industries (mainly comprised of
services). The second industry includes gas and e l e c t r i c i t y
for Italy, does not include construction for the United
Kingdom, and is comprised of industry excluding handicrafts for Germany. The data shown are not necessarily an
average for the entire time periods shown on table 8, but
usually represent a year or an average of the available
years within the time period.
Sources: Data for series D67 to D87 are f r o m Simon Kuznets,
"Quantitative Aspects of the Economic Growth of Nations, II,
Industrial Distribution of National Product and Labor Force,"
Economic Development and Cultural Change, Supplement to
Volume V, Number 4, July 1957.
Series DBS to D122
Percent Distribution of Total Output in Current Prices, by
Industry of O r i g i n f o r the United States and Six Countries
These series for the United States and six foreign countries
show the distribution of total output by industry of origin. The
services division includes ownership of dwellings, health and
educational services, public administration and defense, and
other miscellaneous services. For qualifications of the ind u s t r i a l divisions, see sources.
Sources: Data for 1950 to 1954 are f r o m Statistics of National
Accounts,. 1950-1961; for 1955 to 1964, are f r o m National
Accounts Statistics, 1955-1964, both published by the Organisation for Economic Cooperation and Development,
Series D123 to D143
Percent Distribution of the Labor Force by Industry, f o r the
United States and Six Countries
These series show the percent distribution of the labor
force by two major industrial divisions, a g r i c u l t u r e - f o r e s t r y fishing and manufacturing-construction-mining. Also shown is
the percent of the labor force in a l l other industries
(comprised mainly of services).
The data shown are not
necessarily an average for the entire time periods shown on
table 9, but usually represent a year or an average of the
available years within the time period.
SERIES DESCRIPTIONS AND SOURCES - CONTINUED
Sources: Data for series D123 to D143 are f r o m Simon
Kuznets, "Quantitative Aspects of the Economic Growth of
Nations, II, Industrial Distribution of National Product and
Labor Force,'' Economic Development and Cultural Change,
Supplement to Volume V, Number 4, July 1957.
Series D144 to D178
Percent Distribution of Employment, by Industry of Origin for
the United States and Six Countries
These series for the United States and six foreign countries
show the distribution of employment by industry. The services
division includes ownership of dwellings, health and educational services, public administration and defense, and other
miscellaneous services. F o r qualifications of the industrial
divisions, see sources.
Sources:
Data for
2 3 0 - 1 9 3 O - 66 - 10
1950 to 1953 are f r o m ManTX)wer Sta-
t i s t i c s , 1950-1962, OECD. Data for 1954 to 1964 are f r o m
Manpower Statistics, 1954-1964, OECD.
Series D179 to D192
Gross Domestic Fixed Asset Formation as a Percent of Total
Output for the United States and Six Countries
These series show the proportion of total output (usually
GNP) i n current p r i c e s devoted to investment c a r r i e d on by
both private enterprise and government. Gross fixed asset
formation i s defined to include residential construction, other
construction, and machinery and equipment.
Sources: Data for 1870 to 1949 are f r o m Economic Growth
in the West, Twentieth Century Fund. Data for 1950 to 1954
are f r o m Statistics of National Accounts, 1950-1961, and for
1955 to 1964, f r o m National Accounts Statistics, 1955-1964,
both published by the Organisation for Economic Cooperation
and Development.
163
APPENDIX 3. BASIC DATA
The following pages contain the basic data underlying the charts and tables shown
in this r e p o r t . The data are f r o m both government and nongovernment sources.
Those statistics which originate i n government agencies are not copyrighted and
may be reprinted freely. Data f r o m nongovernment sources have been provided
through the courtesy of the various authors and publishers. Many of these may also
be reprinted freely, but several are subject to copyrights as indicated in the footnotes.
Please note that many series are revised periodically to take account of additional
information such as benchmark statistics. The data shown i n this r e p o r t are the
latest available f r o m the various sources as of August 1, 1966. Consequently, the
most recent year or two are often p r e l i m i n a r y estimates subject to revision in
later issues of the sources noted in appendix 2.
Generally, U.S. data include Alaska and Hawaii beginning i n 1960.
PUNCH CARD F I L E OF SERIES DATA
A punch card f i l e containing data for many of the series included i n this
report i s maintained at the Bureau of the Census. Duplicate cards for these
series may be purchased at cost. Inquiries for information about costs and
availability of series should be sent to Julius Shiskin, Chief Economic
Statistician, Bureau of the Census, Washington, D.C. 20233.
165
s;
Series A1 to A l l
0 2
CD
Gross national product
Year
Al. NBER,
Kendrick
(Millions of
1929 dollars)
A2. QBE
(Billions of
1958 dollars)
A3. NBER,
Kuznets
(Billions of
1929 dollars)
A6. Net naGross national product
tional product:
NBER, Kendrick A7. NBER,
A8. QBE
Kendrick
Potential gross
national product
A4. CEA
A5. JEC
(Billions of
1958 dollars)
(Billions of
1954 dollars)
(Millions of
1929 dollars)
(Millions of
dollars)
(Millions of
dollars)
National income
A9. Goldsmith- AlO. QBE
NBER, Kendrick
(Billions of
dollars)
(Millions of
dollars)
A l l . Per capita
GNP: NBER.
Kendrick
(1929 dollars)
1B60.
1861.
1H62,
1863.
1864.
1B65>.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
Hi,
110,586
LlO.
17,409
1263
215.1
1880.
1861.
1882.
1883.
1884.
1883.
'11,
3 384
^ 21,048
^19.7
®19,324
1869.
24,391
23.4
22,003
12,485
39
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
26.196
27,363
30,010
28,569
27,756
31,082
30,444
33,327
34,068
37,172
24.6
25.6
434.6
23,656
24,674
27,181
25,615
24,710
27,951
27,208
29,972
30,596
33,577
13,129
13,530
14,273
13.849
12,619
13,928
13,295
14,617
15,388
17,356
415
425
45
427
407
447
429
462
464
497
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
38.197
42,587
43,004
45,123
44,559
4 7 , 8 70
53,420
54,277
49,790
55,893
36.4
38.6
40.0
41.8
43.8
45.9
46.6
48.6
50.2
50.9
34,478
38,739
39,015
40,977
40,261
43,417
48,763
49,380
44,686
50,625
1886.
1887.
1888.
26.2
27.1
27.6
28.2
29.2
30.9
32.3
116.8
101.0
514
18,684
20,668
21,554
22,864
22.850
25,116
28,720
30,404
27,699
32,166
620
33,400
727
502
549
543
560
542
571
625
624
561
618
19101911,
1912.
1913,
1914.
191!>.
1916.
1917.
1918.
1919-
56,499
58.312
61,058
63,475
58,636
60,424
68,870
67,264
73,361
7 4 , 158
120. 1
123.2
130.2
131.4
125.6
124.5
134.3
135.2
151.8
146.4
52.1
54.8
55.2
55.8
57.9
59.1
59.6
62. 3
64.9
67.8
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
73.313
71 ,583
75,788
85,819
88,361
90,529
96,405
97,337
98,503
104,436
140.0
127.8
148.0
165.9
165.5
179.4
190.0
189.8'
190.9
203.6
68.5
65.5
70.4
1930.
1931.
1932..
1933.
1934.
1935.
1936.
1937.
1938.
1939.
9 5 , 130
89,454
76,403
74,178
80,7bl
91,435
100,907
1 0 9 , 112
103,232
110,994
183.5
169.3
144.2
141.5
154.3
169.5
193.0
203.2
192.9
209.4
90.5
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
121,008
138,698
154,656
170,206
183,584
180,939
165,605
164,134
173,021
227.2
263.7
297.8
337. 1
361.3
355.2
312.6
309.9
323.7
324. 1
107.0
119.9
116.4
115.3
119.7
122.7
143.0
144. 1
149.0
144.0
1950.
1951 .
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
187,411
199,419
205,800
213,964
r 7 0 , b 3 7
1960.
1961.
1962.
1963.
1964.
1965.
^Decade average, 1869-78.
^5-year average, 1 8 9 7 - 1 9 0 1 .
35 5 . 3
383.4
395. 1
412.8
407.0
438.0
446. 1
452.5
44 7 . 3
475.9
487.7
49 7 . 2
529.8
551.0
580.0
614.4
^Decade average, 1874-83
®5-year average, 1902-06.
33,360
34,268
37,311
39,067
36,424
38,738
49,768
59,945
76,176
78,907
35t300
35,800
39,400
39,600
38,600
40,000
48,300
60,400
76,400
84,000
130.4
134.4
137.9
143.0
149.5
154.9
161.6
168.5
175.2
178.5
65,933
64,633
68,423
78,254
80,700
82,570
87,859
88,768
89,591
95,204
88,856
73,938
73,990
8 6 , 115
87,561
91,308
97,694
96,279
98,164
104,436
91,500
69.600
74,100
85,100
84,700
93,100
97,000
94,900
97,000
103,095
118.7
80.0
81.6
84.3
89.8
90.6
91.9
98.0
80.2
66.4
65.7
71.3
78.8
86.9
96.2
90.6
98.2
^Decade average, 1879-88.
8 6 , 7 9 5
689
660
689
767
774
782
821
818
817
858
79
64
63
74
75
78
83
81
82
75,382
59,6o9
42,785
40,312
49,515
57,208
65,013
73,650
67,372
72,564
772
721
611
590
639
718
787
846
794
847
229.0
236. 1
246.0
256.9
111,998
128,815
143,618
158,578
171,001
1 6 8 , 110
154,232
151,020
158,585
155,321
99,678
124,540
157,910
191.592
210,104
211,945
208,509
231,323
257,562
256,484
8 1 , 124
104,222
137,065
170,322
182,592
181,485
181,879
199,018
224,178
217,494
916
1,040
1,147
1,245
1,32 7
1,293
1,171
1 , 139
171,358
182,166
189,091
196,329
284,769
328,404
345,498
364.593
364,841
397,960
419,238
441,134
447,334
483,650
241,074
277,978
291,380
304,734
303,138
331,018
350,799
366,096
367,762
400,025
1,236
1,293
1,311
1,341
503,755
520,109
560,325
590,503
631,712
681,207
414,522
427,341
457,687
481,927
517,281
559,020
472.8
488.4
508.2
528.4
549.4
"^1899-1918
70
90,367
75,820
58,049
55.601
65,054
72,247
82,481
90,446
84,670
90,494
314.1
326.6
340.2
354.6
369.2
386.0
404.5
423. 3
437.8
456.3
521
539
558
578
600
622
834
86,070
80,712
68,122
66,217
72,830
83,351
92,530
100,489
94,594
102,220
277.1
279.5
284.3
290.8
303. 1
395
409
424
438
454
470
486
503
611
621
640
653
592
601
6 75
651
711
710
190. 1
192.5
192.2
193.0
195.2
199.5
204.1
209.7
216.3
222.7
268.8
162.0
167.6
169.2
173.6
174.8
189.8
121.8
125.0
126.7
51,026
52,631
55,179
57,383
52,360
54,011
62,293
60,478
66,403
66,695
103.9
106.4
108.9
111.3
114.5
116.5
5-year moving average o f annual estimates.
^5-year a v e r a g e , 1 9 0 7 - 1 1 . ®5-year a v e r a g e , 1 9 1 2 - 1 6 .
1,180
1,144
00
Series A12 toA42,A59andA60
A12. Per capita
GNP: OBE
Gross private domestic
product
A13. N B E R ,
A14. O B E
Kendrick
Industrial production
index
A15. N B E R ,
A16. FR
Nutter
Gross nonfarm product
A17. N B E R ,
Kendrick
A18. O B E
Year
(1958 dollars)
(Millions of
1929 dollars)
1860.
(Billions of
1958 dollars)
(1913=100)
1861.
186?.
1863.
1864.
7.48
7.49
6.94
7.88
8.35
1866.
1867.
1B6B.
1869.
9.84
10.30
10.80
11.60
1870.
1671.
1872.
1873.
1874.
1875.
1876.
18 7 7 .
1878.
1879.
11.70
12.30
14.60
14.40
13.90
13.50
13.40
14.60
15.50
17.50
(1957-59=100)
(Millions of
1929 dollars)
(1929=100)
A20. Gross manGross farm product
ufacturing product: O B E
A21. N B E R ,
A22. O B E
Kendrick
(Billions of
1954 dollars)
(Millions of
1929 dollars)
(Billions of
1958 dollars)
8.00
^ 1 0 , 8 8 1
1880.
7. 1
4,289
^6,592
10.
20.30
22.30
23.90
24.40
1881-
1882.
1883.
"14,
2 3 . 1 0
1889.
23,457
23.20
27.90
29.50
30.60
32.60
16,633
1890.
1891.
1892.
1893.
1894.
25,251
26,392
29,005
27,523
26,677
29,979
29,335
32,232
3 2 , r55
35,863
35.00
36.00
38.80
34.70
33.70
39.70
36.90
39.70
44.70
49.20
18,536
19,405
22,370
21,059
19,988
22,867
21,708
24,034
24,194
27,306
36,822
4 1 , 134
41,499
43,567
42,943
46,178
51,635
52,407
47,828
53,816
50.60
56.70
63.20
65.40
62.30
73.60
78.90
80.60
2 8 , 185
32,551
32,985
34,795
33,942
37,071
42,041
43,245
38,486
44,664
1887.
1888.
189b..
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1,351
68.00
80.20
-6,002
35
-20,237
1884.
18&!>.
1886.
1904.
1905.
1906.
1907.
1908.
1909.
(Billions of
1958 dollars)
A19. Manufacturing output index:
N B E R , Kendrick
18.3
6,82
19.7
25. 1
27.5
6,71
6,98
6,63
6,46
6,689
7,11
7.62
8 , 198
8,56
8,55
27. 7
30.9
35.5
35.4
34.2
39.0
41.6
42.1
33.7
43.4
8.63
8,58
8,51
8 , 772
9,00
9,10
9,594
9,162
9,342
9,152
20.2
2 1 . 9
19.4
18.8
22.4
20.4
22.0
14.3
o
I
o
1910.
1911.
1912.
1913.
1914.
1 9 I i> •
1916.
1917.
1918.
1919.
1,300
1,312
1 , 366
1,351
1,267
1,238
1,317
1,309
1 , 4 7 1
1 ,401
1920.
1921.
1922.
1923.
1924.
192b.
1926.
1927.
1928.
1929.
1,315
1 , 177
1 ,345
1,482
1 ,450
1,549
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1,490
1,364
1, 154
1,618
1,594
1,584
1 , 6 7 1
1, 126
1,220
1,331
1 ,506
1 ,576
1 ,484
1,598
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
2,538
2,211
2 , 150
2,203
2 , 172
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
2,342
485
517
587
506
650
652
642
569
638
1960.
1961.
1962.
1963.
1964.
1965.
2,699
2 , 706
2,838
2,909
3,019
3 , 158
1,720
1,977
2,206
2,465
2,611
CT>
VO
9,411
8,880
10,498
9 , 133
10,196
10,912
9,595
10,506
9,612
9,674
14.6
14.2
16.2
14.5
15.8
16.7
15.3
16.3
15.8
15.9
165. 1
66.0
53.5
68. 1
76.9
73.4
81.9
86.2
87. I
90. 1
100.0
9 , 542
8,981
9,595
10,246
9,718
10,433
10,328
10,647
10,406
10,729
15.7
14.3
15.5
16.3
15.6
16. 7
16.3
17.0
16.4
17.0
145.4
129.2
105.8
103.0
116.6
128.4
150.5
158.5
146.8
162.5
85.6
72.0
53.8
62.8
69. 1
82.8
96.8
103.3
80.9
102.5
9,991
11,176
10,696
10,998
9,472
10,444
9,753
10,927
11,421
11,452
16. 1
18. 5
18.0
17.5
14.6
16.5
14.9
1 7.9
17.8
18.2
101,313
116,415
127,434
136,274
146,470
145,052
140,288
142,022
149,895
147,122
179.6
209.3
228.0
245.3
259.5
256.5
248.6
255.8
267.0
266.2
118.6
157.9
197.2
238. 1
232.5
196. 5
160.6
178.3
184.2
173.5
11,366
12,311
13,198
12,591
12,718
12,158
12,416
11,909
12,785
12,722
17.5
18.8
20.6
19.6
19.4
1 8
18.5
17.0
19.0
18.4
163,260
173,398
178,864
186,264
294.9
316.2
324.2
340. 7
335.0
364.4
371.4
377.2
370.9
398.3
201. 1
214.3
223.6
243.4
228.2
255.9
264.3
12,890
12,149
12,212
13,057
19.4
18.4
19.0
20.0
20.4
20.9
20.8
20.3
20.8
21.1
113.20
24.9
44,910
4 7 , 195
48,226
51,937
45,886
46,676
56,293
52,695
56,365
58,985
69,276
67,679
71,679
81,531
84,002
85,914
91,694
92,480
93,503
99,291
124.00
100.10
125.90
144.40
137.70
153.00
163.10
164.50
171.80
188.30
26.2
20. 1
25.6
30.5
28.6
3IL5
33.4
33.3
34.6
38.4
59,734
58,698
62,084
71,285
74,284
75,481
81,366
81,833
83,097
88,562
155.60
129.70
100.50
119.90
129.70
149.10
178.30
194.50
152.30
188.00
32.0
26.5
20.7
24.4
26.6
30.7
36.3
39.7
31.4
38.3
79,817
7 3,021
60,665
57,772
65,041
74,221
83,278
90,884
83,743
91,530
281.7
274.2
280.3
293.8
292.9
213.90
275.50
340.30
405.20
398.70
343.60
291.70
320.90
333.90
317.70
43.9
56.4
69.3
82.9
81.7
70.5
59.5
65.7
68.4
64.7
322.9
343.4
352.0
369.8
364.6
395.4
402.8
408.4
403.2
431.2
366.30
398.70
411 .70
447.30
421.40
473.20
489.40
492.70
457.00
517.30
74.9
ai.3
84.3
91.3
85.8
96.6
99.9
100.7
93.7
105.6
128.80
189.
89,808
84,197
71,361
68,770
74,513
84,665
93,031
101,811
9 5 , 164
102,982
168.
112.679
128,726
140,632
148,865
159,188
157,210
152,704
153,931
204.6
235.7
256.5
272.1
162.680
159,844
176,150
185,547
191,076
199,321
154.
129.
126.
137.
151.
172.
183.5
171.5
187.8
286.0
441 .7
449.4
479.5
499.8
526.9
559.4
108.7
109.7
118.3
124.3
132.3
143.3
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
45.1
42.7
51.3
53.8
51.1
59.9
71.2
70.6
69.8
61.0
85.30
82.20
93.70
100.00
94.10
109.30
129.60
129.70
^Decade average, 1869-78. ^Decade average, 1879-88.
...
...
...
...
...
...
...
...
...
54,321
56,075
58,724
61,070
56,082
57,588
65,888
63,2G1
65,977
68,659
...
...
...
...
...
...
...
...
...
...
...
...
• .
407.6
414.8
444.6
463.8
491.2
521.7
.
...
...
...
...
...
...
...
...
83
86
81
1
0
9
92
102
105
111
103
116
116
117
109
121
6
0
0
9
8
7
4
8
7
8
122
122
134
138
0
0
1
5
.. .
...
...
...
...
...
...
...
...
...
...
...
...
21.9
22.2
22.1
22.8
22.0
23.d
CD
o
Series A23 toA42,A59andA60
O
Personal consumption expenditures
Year
A23. N B E R ,
Kendrick
A24. Q B E
(Millions of
1929 dollars)
(Billions of
1958 dollars)
Per capita personal
consumption expenditures
A25. NBER,
A26. OBE
Kendrick
(1929 dollars)
(1958 dollars)
Gross private domestic investment
A27. N B E R ,
Kendrick
(Millions of
1929 dollars)
A28. O B E
(Billions of
1958 dollars)
Gross fixed business investment Net exports of goods and services A 33. Total government purchases of
A32. OBE
A29. N B E R ,
A30. O B E
A31. NBER,
goods and servKuznets: 5-yr.
Kendrick
ices: N B E R ,
moving avg.
Kendrick
(Billions of
1929 dollars)
(Billions of
1958 dollars)
(Millions of
1929 dollars)
(Billions of
1958 dollars)
(Millions of
1929 dollars)
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
14
189
^2,370
1882.
-15,569
2 84
155
1689.
18,004
291
4,869
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
17,955
19,247
20,157
20,256
19,659
22,119
22,056
2 3,794
24,193
27,053
285
299
307
302
6,710
6,345
8,054
6,420
6,067
7,192
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
27,296
30,651
30,911
32,761
33,188
35,090
38,965
39,702
37,197
41,269
359
395
390
406
404
419
456
456
419
456
1886.
1887.
1888.
122
H , 0 0
2.18
1880.
1881.
1883.
1884.
1885.
1.38
1.45
1.54
1.64
1.56
1.48
1.54
1.65
1.91
288
318
311
330
329
362
6,088
6,996
6,405
6,976
7,491
8,605
9,042
8,919
8,079
9,247
10,899
10,725
8,091
1 1 , 143
2.43
2.56
2.52
2.47
2.46
2.50
2.49
2.96
3.33
76
21,400
-171
1,689
3.89
4.26
4.61
4.67
4.61
4.39
4.32
4.36
4.64
5.05
-225
-52
1.756
1,825
1,909
1,976
5.65
831
679
301
440
293
310
274
210
417
-276
6.21
6.60
6.64
6.93
7.17
7.07
7.31
7.79
7.71
-110
-83
4
-278
195
313
891
561
2,026
2,049
2,103
2,224
2,579
2,582
2,579
2,652
2,750
3,003
2,999
3,223
3,282
3,640
4,085
3.757
I
o
1910
1911.
1912
1913
1914
1915
1916
1917
1918
1919.....
42,034
44,064
45,211
46,701
46,124
45,322
49,408
48,342
48,121
50,245
1920.....
1921
1922
1923
1924
1925
1926
1927
1928
1929
52,713
56,082
58,149
63,427
6 8 , 127
66,137
71,548
73,157
74,813
78,952
1930
1931.....
1932
1933
1934
1935
1936
1937
1938.....
1939
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
• .
.
455
469
474
480
465
451
485
468
466
481
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
7.70
10,831
9,578
1 1 , 186
12,029
7,845
7,621
10,713
8,342
6,680
10,734
26.5
2,284
1,536
653
469
984
671
435
718
1,008
771
21.7
14. 1
8.2
7.6
9.2
11.5
15.8
18.8
13.7
15.3
577
220
55
-147
102
-605
730
-447
1,060
797
1.4
.9
.6
.0
.3
-1.0
-1.2
- .7
1.9
1.3
9,435
9,965
9,483
9,415
10,924
10,972
12,689
12,349
13,999
14,369
18.9
22.2
12.5
10.0
13.4
19.8
30.2
36.2
38.0
34.5
1,238
397
-1,056
-3,170
-3,120
-2,434
3,073
5,759
1,067
159
2.1
.4
-2.1
-5.9
-5.8
-3.8
8.4
12.3
6.1
6.4
15,062
23,002
51,221
71,391
79,506
66,448
20,093
17,548
21,852
25,350
-1,186
1,079
798
-141
2.7
5.3
3.0
1.1
3.0
3.2
5.0
6.2
2.2
.3
23,433
32,036
39,167
43,040
60.9
73.6
37.5
39.6
38.3
40.7
39.6
43.9
47.3
47.4
41.6
44. 1
72.4
69.0
79.4
82.5
86.5
97.8
47.1
45.5
49.7
51.9
57.4
64.9
8.08
139.6
1,145
12,760
7,439
10,626
15,578
12,352
16,371
17,063
15,572
14,479
16,231
74,665
72,517
66,025
64,566
67,970
72,287
79,652
82,624
81,331
85,882
130.4
126.1
114.8
112.8
118.1
125.5
138.4
143.1
140.2
148.2
606
584
528
514
537
568
621
641
626
655
1,059
1,016
919
897
934
98 5
1,080
1,110
1,079
1,131
10,453
6,752
840
344
1,785
8 , 781
9,296
14,586
6,842
9,946
24.0
29.9
17.0
24.7
1940
1941
1942
1943
1944
1945.....
1946. . . . .
1947
1948
1949
90,471
96,418
94,662
97,299
101,226
108,601
120,941
122,571
125,125
128,469
155.7
165.4
161.4
165.8
171.4
183.0
203.5
206.3
210.8
216.5
685
723
702
712
731
776
855
850
853
861
1 , 178
1,240
1,197
1,213
1,238
1 ,308
1 ,439
1,431
1,438
1 ,451
14,237
18,881
9,829
4,686
5,972
8,324
21,498
18,256
24,977
16,659
33.0
41.6
21.4
12.7
14.0
19.6
52.3
51.5
60.4
48.0
10.43
12.96
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
136,299
137,175
141,358
147,545
230.5
232.8
239.4
250.8
255.7
274.2
281.4
288.2
290.1
307.3
899
889
901
925
1 ,520
1,309
1 ,525
1,572
1 ,575
1,659
1 ,673
1 ,683
1,666
1 ,735
28,865
29,129
24,477
23,520
69.3
70.0
60.5
21.30
61.2
24.
1960. . . . .
1961
1962
1963.....
1964
1965
^ Decade average, 1869-78.
316.1
322.5
338.4
353.3
373.8
396.2
^Decade average, 1879-88.
...
...
...
...
...
...
...
...
...
...
...
1 ,749
1,755
1,813
1 ,865
1 ,946
2,036
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
.•.
...
...
...
...
...
...
...
...
...
...
7.97
7.40
7.49
7.49
7.32
7.73
8.35
495
517
528
5 67
597
571
609
615
621
648
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
-264
84
73
269
-182
2,466
4,016
3,601
2,051
3,502
8.22
7.93
8.19
8.43
8.82
9.92
10.66
11.03
11.69
11.64
40.4
10.62
27.4
9 . 12
7.57
16.8
4.7
5.3
9.4
18.0
59.4
75.4
74.3
68.8
6.02
5.20
5.59
6.76
7.50
8 . 14
8.80
9.56
16. 16
18.39
19.03
19.77
19.56
18.36
18.31
19.86
22.
2
2 3 . 88
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
• .
.
1.5
4.3
5.1
4.5
5.6
8.5
6.3
3,898
4,586
4 , 5 88
4,476
4,849
5,015
4,733
6,979
16,509
9,677
5,556
6,526
6,360
6,345
6,898
7,350
7,359
7,890
8,203
8,482
...
...
...
...
...
...
...
...
...
...
...
...
Series A34 to A42, A59andA60
Government purchases of goods and services
A34. Total: O B E
Year
(Billions of
1958 dollars)
A35. Federal:
OBE
(Billions of
1958 dollars)
A36. State and
local: OBE
(Billions of
1958 dollars)
Personal income
A37. Goldsmith- A38. O B E
NBER, Kendrick
(Billions of
dollars)
(Millions of
dollars)
Disposable personal income
A39. Goldsmith- A40. O B E
NBER, Kendrick
(Billions of
dollars)
(Millions of
dollars)
A41. O B E
(Millions of
1958 dollars)
A42. Per capita
Total input index (1929=100)
disposable personal income: C E A A59. Weighted: A60. Unweighted:
NBER, Kendrick NBER, Kendrick
(1958 dollars)
I860,
186K
1862.
1863,
1864,
1865,
18661867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1873.
1876.
1877.
1878.
1879.
^26.
1880.
1881.
1882.
1833.
1884.
1885.
•33.
r37.
1886.
1887.
1888.
1889.
39.8
44.5
1890.
1B91.
1892.
1893.
1894.
1695.
1896.
1897.
1898.
1899.
41.3
42.8
44.8
44.8
43.6
46.7
47.2
48. 7
49.3
52.9
46.3
47.8
49.6
49.9
49.0
51.8
52.3
53.9
54.6
57.9
54.0
56.7
59.7
61.9
61.3
64.4
67.5
69.5
67.4
71.0
58.9
61.3
63.7
65.6
65.4
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
^14
^20
^26
14
^ 2 0
^26
68.2
71.0
72.8
71.2
74.4
o
1910,
19111912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
^33.
65.0
1920.
1921.
1922.
1923.
1924.
192f).
1926.
1927.
1928.
1929
22.0
3.5
18.5
1930
1931
1932.....
1933
1934
1935
1936.....
1937.....
1938
1939
24.3
25.4
^4.2
23.3
26.6
27.0
31.8
30.8
33.9
35.2
4.0
4.3
4.6
6.0
8.0
7.9
12.2
11.5
13.3
12.5
20.2
21.1
19.6
17.3
18.6
19.2
19.6
19.4
20.6
22.7
1940
1941
1942
1943.....
1944
1945
1946
1947
19A8
1949
36.4
56.3
117.1
164.4
181.7
156.4
48.4
39.9
46.3
53.3
15.0
36.2
98.9
147.8
165.4
139.7
30.1
19.1
23.7
27.6
21.4
20.1
18.3
16.6
16.3
16.7
18.4
20.8
22.7
25.7
1950
1951
1952.....
1953
1954
1955
1956.....
1957
1958
1959
52.8
75.4
92. 1
99.8
88.9
85.2
85.3
89.3
94.2
94.7
25.3
47.4
63.8
70.0
D6.8
50.7
49.7
51.7
53.6
52.5
27.5
27.9
28.4
29.7
32.1
34.4
35.6
37.6
40.6
42.2
1960
1961
1962
1963
1964.....
1965
94.9
100.5
107.5
109.6
111.3
114. 1
51.4
54.6
60.0
59.5
57.8
57.8
43.5
45.9
47.5
50.1
53.4
56.3
^Decade average, 1869-78.
5-year average, 1902-06.
^33
^Decade average, 1879-88
5-year average, 1907-11.
63
73.4
71
62. 1
62.0
60
60
71.5
73.2
75.0
79.5
79.6
79.8
69
71
73
77
77
77
...
...
...
...
...
...
...
...
...
...
...
...
...
...
..•
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
85,905
77,015
65,896
50,150
47,004
53,966
60,405
68,602
74,118
68,346
72,769
78,285
95,972
122,901
15i ,297
165,276
171,113
178,730
191,266
210,216
207,154
227,619
255,595
272,455
288,163
2 9 0 , 136
310,889
333,006
351,101
361,174
383,528
400,953
416,814
442,617
465,487
495,953
535,083
^5-year average, 1897-1901.
5-year average, 1912-16.
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
• •
•
73.3
75.0
77.7
79.0
78.0
78.3
84.1
86.3
86.5
84.9
76.4
77.9
80.2
81.2
80.7
80.6
85.1
86.8
86.7
85.1
86.4
80.3
84.9
90.4
89.6
92.7
96.0
96.5
97.9
100.0
83,262
150,564
1,236
86.2
79.3
84.4
90.9
89.3
92.5
96.1
96.8
97.8
100.0
74,508
64,038
48,695
45,540
52,371
58,517
66,344
71,197
65,484
70,329
139,go7
133,691
1 1 5 , 118
112,167
120,393
131,795
148,421
153,112
143,605
155,940
1,128
1,077
921
893
952
1,035
1,158
1,187
1,105
1,190
94.3
87.1
78.1
76.7
76.3
79.1
85.0
88.9
82.8
86.6
95.2
89.4
81.5
80.3
78.8
81.6
86.0
90.2
84.4
87.7
75,681
92,679
116,920
133,452
146,341
150,246
160,021
169,833
189,138
188,585
166,332
190,306
213,358
222,791
231,552
229,734
226,980
218,014
229,815
230,826
259
427
582
629
673
1,642
90.3
99.3
107.1
111.5
110.1
104.9
106.2
110.0
112.3
109.1
90.9
97.6
103.9
106.8
105.5
100.7
101.6
104.0
105.4
102.8
206,940
226,583
238,312
252,564
257,445
275,348
293,179
308,524
318,826
337,315
249,626
255,737
263,328
275,424
278,319
296,711
309,261
315,787
318,826
332,986
112.6
117.5
119.4
121.9
118.5
122.9
125.7
125.5
105.0
108.6
110.0
111.3
108.6
112.6
115.0
114.8
350,044
364,424
385,267
404,604
436,575
469,092
340,179
350,745
367,300
381,300
406,500
430,800
1,606
1,513
1,567
1,547
1 ,646
1,657
1,678
1,726
1,714
1,795
1,839
1,844
1 ,, ^8 3 1
l i
,881
1,883
1,909
1,968
2,013
2,116
2,214
...
...
...
...
...
...
...
...
...
...
...
....
...
...
...
...
Series A61 to A137
Total factor input index (1929=100)
Year
A61. Weights
changed each 5
yrs: CED, Denison
Labor input index (1929=100)
A62. Fixed
A63. NBER,
weights: CED, Kendrick
Denison
A64. CED,
Denison
Man-hours in
A65. Capital in- AM reproducible capital input index
Total private man-hours
(1929=100)
nonagricultural industries
put index: NBER,
A67. Fixed
A66. Weights
A68. NBER,
A69. Labor force A70. NBER,
A71. Labor force
Kendrick
changed each 5 weights: CED,
data: BLS
Kendrick
Kendrick
data: BLS
yrs.: CED,
Denison
Denison
I
(1929=100)
o
(1929=100)
(1957-59=100)
(1929=100)
(1957-59=100)
1860,
1861.
1862-
1863.
1864,
1865,
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
^25.
^16.
^36.
^24.
^23.
^31.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
63.0
63.7
•34.
44.6
29.8
51.1
42.1
46.2
47.6
49.5
48.6
46.1
49.9
49.9
51.7
51.9
56.7
31.1
32.8
34.8
36.6
37.7
39.2
40.6
41.7
43.1
44.4
53.0
54.3
56.1
55.5
53.5
56.8
56.8
58.6
58.9
63.2
44.2
43.7
47.8
46.8
44.0
48.0
47.8
49.8
50.0
55.3
57.5
60.7
64.3
66.6
64.9
69.0
72.4
74.3
70.1
74.9
46. 1
47.6
49.3
51.3
52.8
54.2
56.3
58.6
60.4
63.9
66. 7
69.6
71.6
70.6
74.0
77.0
78.7
75.3
79.4
56.0
59.5
63.0
65.5
63.9
63.4
61.8
53.7
55.3
68.2
77.4
71.8
73.8
69.3
74.4
60.9
1910.....
1911
1912.....
1913
1914
1915
1916
1917.....
1918
1919
65, • 4
66, .7
68, 8
70,• 2
7 0 ,. 1
70, • 6
74,.8
77, 6
80, .5
78,.5
6 6 , .0
t)7..3
6 9 , .4
7 0 , .6
70, .6
7 1 , ,0
7 5 , .5
7 8 , .2
8 1 , .4
78, .9
71, »5
79, .0
82, .2
83, .2
80, .7
80, »4
88,»3
90, .7
90, .0
86, .7
65.
67.
70.
71.
70.
70.
76.
79.
83.
79.
7
5
1
2
5
7
3
7
3
2
6 3 , .7
6 5 , ,7
6 7 , .3
6 9 , ,4
7 1 , .5
7 3 ,• 2
74,
7 6 , .3
7 8 , .4
8 0 , .3
56, .7
57,.0
58, »5
6 0 , .5
62, .2
63, .5
6 5 ,• 3
6 7 , »3
69, . 1
71,.7
5 8 , .3
5 8 , .3
5 9 , .2
6 1 ,• 4
6 3 , .6
6 4 , ,5
6 6 , .7
6 8 , .0
7 0 , ,6
7 2 ,• 8
8 1 , .5
8 3 , .0
8 5 , .6
8 6 , .3
8 4 , .7
8 3 , ,9
9 0 , .0
9 1 , ,9
9 1 , .1
8 8 , .2
79, • 3
8 0 , .9
8 3 , .5
83, • 9
82, ,6
8 1 , .8
87, • 4
89, • 3
88, ,7
85, .8
76,,9
78, ,4
81, ,4
82, .5
79, .6
79, .2
87, .2
88, .8
87,.5
84, .3
62, .9
6 4 , .2
6 6 , .7
6 7 , .5
65, a
64, • 8
71, .4
72,.7
71,,7
6 9 , ,0
1920
1921.....
1922
1923
1924.....
1925
1926
1927
1928
1929
79,.7
75,,4
80, • 1
85, .9
86, • 1
89, .8
93, .7
9 4 , .8
9 6 , .9
100, • 0
8 0 , .1
75, .5
8 0 , ,3
8 6 , .1
8 6 , ,4
8 9 , .8
9 3 , ,8
9 4 , ,8
9 7 , .0
100, .0
87,. 9
77,.8
84, .6
93, .0
90, .0
93, .6
97,.5
97, .3
9 7 , »9
100,»0
79.
72.
79.
86.
85.
89.
94.
94.
96.
100.
5
7
0
2
4
7
0
7
8
0
8 2 , .0
8 3 , .2
8 3 , .8
8 5 , .5
8 7 , .7
8 9 , >8
9 2 , ,7
9 5 ,• 4
9 7 , ,7
100, .0
75,.3
77,.2
78,.7
82, . 1
84, • 8
87, • 9
9 1 , .5
9 4 , .0
9 6 , .5
100,»0
7 6 , ,8
7 8 ,• 1
7 9 , .4
8 2 , .5
8 6 , .0
8 7 , .7
9 1 , .7
9 3 , .9
9 6 , .9
1 0 0 , .0
8 9 , .4
8 0 , ,5
8 6 , ,5
9 3 , ,4
9 1 , .2
9 4 , .5
9 7 , .8
9 7 , ,2
9 8 , .1
1 0 0 , ,0
87, ,0
78,.4
84, • 2
9 0 , ,6
88, .6
9 1 , .8
9 4 ,• 8
9 4 , .2
9 5 , .0
9 6 , .8
85, • 3
76,.2
83,.0
9 1 , .6
88, • 5
92, , 1
96, .3
9 6 ,. 7
9 7 , .3
100, ,0
69, .8
62, .3
67, ,9
75, .0
72,.4
75, ,4
78,.8
79,.2
79,.7
81, • 9
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
9 7 ,• 0
9 2 ,• 3
87, • 9
86, .4
87, • 5
9 2 , .2
100, ,7
105, .9
101, • 9
106, • 8
9 6 , >7
9 2 , ,0
8 7 , ,5
8 6 , .0
8 7 , .1
9 1 , ,7
9 9 , .8
104, .7
100, .9
105, .5
9 1 , .9
82, • 3
71, .2
70, .5
70, »8
74,,9
82,.6
87,.4
79,.3
84,.2
94.
87.
81.
80.
82.
89.
100.
106.
100.
107.
6
8
1
2
5
0
0
4
9
2
102, .0
1 0 2 , .1
9 9 , ,9
9 6 ,• 5
9 3 , ,8
9 2 , ,5
9 2 , .5
9 3 , .8
9 4 , .6
9 4 ,• 3
102, »8
102, • 8
102, .0
100, .4
9 8 , .4
9 8 , .0
9 9 , .2
100, »9
101, .7
102, . 1
102, .6
1 0 3 , .1
102, .2
100, ,4
9 8 , .2
9 8 , .2
9 9 , .1
100, • 4
101, • 3
101, .8
9 3 , .1
8 5 . .4
7 5 , .6
7 4 , ,9
7 3 , ,6
7 7 , .6
8 3 , .4
8 8 , .6
8 1 , .0
8 5 , .2
9 0 ,• 4
8 3 , .1
74, • 1
73, • 4
7 1 , ,8
7 5 , ,8
80, .9
86, • 0
78,.7
82, • 6
9 1 , .5
8 0 , .9
6 9 , .4
6 8 ,• 5
6 9 , ,7
7 3 ,• 8
82, a
86, .7
78,.8
84, .0
75, .0
6 6 , .2
56, .8
56, a
57, .0
6 0 , ,4
6 7 ,• 2
71,.0
64, .5
68, • 8
1940
1941
1942
1943
1944
1945
1946
1947
1948.....
1949
111, • 8
122, • 9
135, .6
151, .2
155, .9
150, .3
138, • 6
140, • 6
144, a
143, .4
110, ,6
121, ,5
134, .1
149, .5
154, ,2
148, ,3
135, .3
137, .2
140, ,6
139, ,6
88. .6
99, .3
108,.6
114,• 2
112, .7
106,,3
107, .3
110, • 6
111, .9
106,,6
113.
128.
144.
166.
173.
16^.
146.
146.
150.
147.
8
0
9
4
0
8
0
8
0
0
9 5 , .9
9 9 , .0
101, ,7
101, • 8
100, .9
9 9 , .8
102,
107, .3
113, ,3
118, . 1
103,.4
107, .0
109,
110,.1
109,»6
109, .6
112,.7
117, • 4
122,.1
126,.7
103, .5
1 0 6 , ,6
109, .2
1 0 9 , .2
109, .2
108, .8
1 1 1 ,• 0
116, .7
121, • 5
126, .3
8 8 , .9
9 6 , ,9
1 0 4 , ,4
108, .2
106, .7
1 0 0 , .9
101, . 7
103, ,9
104, .5
100, .1
86, • 0
9 3 , .3
100, .5
104, • 0
102, .6
9 7 ,• 0
9 7 , ,1
99, • 6
100, • 8
9 8 , .2
89, a
9 9 , .8
108,• 5
113,.6
111, .9
106, a
108,a
111, .9
113,,2
108, • 2
72,.9
81, .7
88,.8
93, a
91, • 6
86,.9
88, .5
91, .6
93, a
90, .8
1950
1951.....
1952
1953
1954
1955
1956
1957
1958
1959.....
1^7, ,8
158, ,0
163, .2
166, .9
164, .9
172, • 2
177, .4
179, .1
1 77,.6
1.
143, ,6
154, .4
158, • 6
162, .1
159, .9
166, .7
171, .9
173, .4
172, .0
109,.8
114, .4
115, »7
117, .2
111,.8
116, .3
118,.4
116, .9
t .
151. 8
163. 4
168. 8
172. 4
168. 2
176. 2
181. 7
182. 1
I 78. 8
122, • 8
1 2 9 , .1
133, .2
139, • 6
143, .6
148, .0
153, .4
158, .2
128, ,9
135, .5
141, ,7
145, ,6
1 4 9 , .1
153, • 9
159, • 6
164, .9
168, ,9
101, >9
105, . 1
105, ,7
106, ,3
1 0 2 ,. 1
106, . 1
107, ,8
106, >4
.
130, .7
137,,6
142,,8
146,.8
151, .4
156, .8
162,.2
168, »3
172,.9
112, • 2
117,a
118,.7
120,.7
115,• 8
120,.6
123,.4
122,,8
* , t .
> .
» .
99, .2
100, .9
100,• 4
100,.8
96, .8
100,.7
102,• 7
101, ,4
97, .9
100,• 7
93,,5
96, • 3
96, • 5
98, .2
94, .2
98,• 3
101,.2
100,.9
98,.0
101,a
1960
1961
1962
1963
1964
1965
Decade average, 1869-78.
cn
.,
.. ,,
.. ,,
.,
1.
» .
» •
» «
> •
•,
•,
.,
.,
) .
>.
• «
«
,> •
>.
Decade average, 1879-88.
•,
» .
.•,,
.,
• .
» .
•
. ..
.. ....•
.. ,,
)
.,. ,
.,
..,,
t .
• .
> •
> .
> .
> .
•,
.•. ,,,
•.•,,,
t.
»
.
» •
» .
t .
.,
.. ,,
.. ,,
.,
•
>
.
>
.
,) •
> •
» .
.,
.,
.. ,*.
.,
> •
> .
• , > .
>
• , > .
> •
102, .0
101, • 2
102, • 7
103,.5
105, .6
108,,9
• •
•.. ,,,
•,
» .
>
.
1.
•
.
t .
102,• 8
102,.7
104,.6
106,a
108, .8
112,.8
Series A72 to A126
Year
A72. Man-hours in
Total employment (Thousands)
Man-hours in manufacturing
Man-hours in agriculture
nonagricultural ind u s t r i e s - e s t a b l i s h - A73. N B E R ,
A76. Labor force Ml. Lebergott^ A78. BLS
A74. Establish- A75. N B E R ,
Kendrick
ment data: BLS Kendrick
ment data: BLS
data: BLS
(1957-59=100)
(1929=100)
(1957-59=100)
(1929=100)
1860,
1861,
1862,
18631864.
1863.
1866.
1867.
1868.
1869.
25.1
53.6
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
32.8
70.4
Total civilia n employment
fThoL sands)
A79. Lebergott^ A80. BLS
Persons engaged, national economy
(Tho J sands)
A81. N B E R ,
A82. O B E
Kendrick
I
o
(1957-59=100)
1880.
1881.
1882.
1883.
1884.
1885.
48,435
1886.
1887.
1888.
1889.
46.4
82.6
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
48.4
49.5
53. 1
50.3
46.4
51.7
49.8
51.5
53.1
60.5
83.8
84. 5
85.3
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
62.8
65.9
72.2
74.4
68.4
77.9
81.9
86.0
59.7
73.6
83.8
21,620
86.9
87.7
88.5
89.3
90.1
90.8
2 I f 907
22,115
23»221
21,658
20,475
22,146
22,442
22,903
24,011
26,112
21,868
22,077
23,182
21,619
20,433
22,104
22,400
22,859
23,775
26,012
22,327
22,890
23,573
23,498
23,031
24,209
24,332
25,040
25,400
91.6
92.2
92.8
93.4
93.9
94.5
95. 1
95.6
96.2
96.8
27,080
28,063
28,915
29,600
29,857
31,027
32,747
33,350
32,259
34,031
26,956
27,948
28,807
29,494
29,750
30,918
32,638
33,238
32,136
33,897
27,295
28,425
29,647
30,525
30,419
31,814
33,071
33,848
33,086
34,785
86. 1
206.4
o
26,861
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
191b.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
61.7
63.0
65.4
66.3
63.9
o3.6
70.0
71.3
70.2
67. 7
68.5
61.2
66.6
73.6
71.0
74.0
77.3
77.6
78.1
80.3
73.5
65.0
55.7
54.9
55.9
59.3
65.9
69.6
63.2
67.5
71.6
80. 1
87.1
91.2
89.8
85.2
86.9
89.9
91.1
87.6
88.2
115.7
114.6
105.1
97.4
99.4
100.7
99.4
102.5
100.4
99.8
102.6
103.9
102.0
107.3
75.4
84.7
99.3
89.2
93.4
96.4
95.2
94.2
103.6
95.6
98.9
99.6
100.7
102.8
103. 1
99. 1
100.9
87.4
91.3
91.5
86.5
89.8
108.6
100.0
85.0
69.3
55.4
59.4
62.6
89.9
115.5
141.8
168.9
166.8
142.9
127.1
133.3
132.9
120.7
214.6
211.6
218.3
213.8
212.3
218.3
221.3
216.8
220.5
203.4
210.8
212.3
214.6
219.0
219.8
210.8
214.6
213.1
99.0
210.8
97.6
97.4
87.4
90.9
88.3
95.4
88.9
89.3
215.3
207.9
207.1
186.3
193.7
187.8
203.4
189.2
190.0
88.3
86. 6
95
94
211.6
100.0
101.2
70.4
81.7
88.4
70.4
81.5
207.1
90.0
89.3
88.4
82.5
79.6
76.0
73.9
71.5
34,700
35,105
36,322
37,161
36,444
36,397
38,195
38,894
41,444
40,693
34,559
34,960
36,173
37,004
36,281
36,223
38,014
38,175
38,540
39,150
35,708
36,274
37,341
37,896
37,475
37,669
40,126
41,531
43,998
42,313
39,588
37,423
39,913
42,650
42,312
43,743
45,084
45,115
45,385
46,467
47,890
39,208
37,061
39,637
42,395
42,045
43,716
44,828
44,856
45,123
46,207
47,630
41,497
39,361
41,383
43,938
43,315
44,512
45,795
45,900
46,382
47,611
46,216
44,443
41,565
38.288
38,302
40,570
41,943
44.289
46,388
44,482
46,108
45,740
42,660
39,190
39,010
41,150
42,530
44,710
46,620
44,560
46,120
44,183
41,305
38,038
38,052
40,310
41,673
43,989
46,068
44,142
45,73
45,480
42,400
38,940
38,760
40,890
42,260
44,410
46,300
44,220
45,750
45,465
42,607
39,274
39,615
42,739
44,224
47,078
48,233
46,379
4 7,769
44
41
37
38
41
42
45
45
45
46
47,520
50,350
53,750
54,470
53,960
52,820
55,250
49,606
54,097
59,056
64,864
48 486
53 112
5 7 992
63 642
64 634
62 991
57 394
57 705
58 800
57 384
187.8
184.0
191.5
190.0
188.5
175.8
169.1
161.8
155.6
156.1
48,060
51,970
57,720
63,490
65,370
64,260
58,700
^59,402
60,573
60,039
143.9
136.8
130.2
-^57,812
66,020
64,363
58,917
59,264
59,117
58,423
60,216
61,398
63,884
64,628
565,492
64,240
65,992
67,565
67,808
66,603
68,133
59,748
60,784
61,035
561,945
60,890
62,944
64,708
65,011
63,966
65,581
60,491
64,191
65,264
66,693
66,681
78.2
69,195
69,369
®70,674
71,546
73,095
74,901
66,796
®67,846
68,809
70,357
72,179
^ T h i s i s a copyrighted series. I t may n o t be reproduced without written permission from the publisher.
Decade average, 1869-78.
Decade average, 1879-88.
91.0
95.5
96.9
98.9
95.3
99.4
129.5
139.8
142.3
148.5
135.4
142.4
144.3
141.4
86
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
101.1
101
1960.
1961.
1962.
1963.
1964.
1965.
102.2
101.2
103.7
104.9
107.0
110.5
101
98
102
103
105
102.0
101.4
97.5
93
100
102
107
98
103
105
103
95
65.8
62. 8
60.0
55.9
54.
55.
53.
48.
121.2
117.6
119.8
114.5
105.1
97.5
97.4
95.9
89.7
87.8
83.2
80.2
Data for 1947-56 have been adjusted to reflect the change in the definitions of employment and unemployment adopted in January 1957.
^Beginning 1953, data are not strictly comparable with earlier years as a result of the introduction of 1950 census data into the estimating procedure.
^Beginning 1962, data are not strictly comparable with earlier years as a result of the introduction of 1960 census data into the estimating procedure.
58,702
080
042
565
052
398
908
980
157
283
60 5
59
62
64
64
63
64
65
65
63
64
115
986
164
997
096
221
408
518
743
977
65
65
67
67
69
71
831
627
047
775
112
248
cx>
Series A83 to A126
Year
Persons engaged, private economy
(Thousands)
A83. N B E R ,
A84. Q B E
Kendrick
Experienced civilian labor force:
Manufacturing employment
Census (Kaplan, Casey)-BLS
(Thousands)
A85. Labor force A86. Labor force A87. Establish- A88. Establish- A89. Establish- A90. Establish- A91. Farm
A92. Manual
A93. White-collar
ment data:
ment Data: BLS ment data:
ment data: BLS workers
data: Lebergott^ data: BLS
workers
workers
Lebergotti
Lebergott^
(Percent)
(Percent)
(Percent)
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
^ 2 ,
54
17,
1888.
1889.
20,895
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
21,588
22,136
22,799
22,703
22,212
23,372
23,483
24,174
24,372
25,868
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
26,272
27,370
28,576
29,429
29,289
30,647
31,858
32,583
31,753
33,389
o
Nonagricultural employment (Thousands)
15,906
17,032
18,054
18,625
18,674
19,731
21,159
21,745
20,898
22,734
15,178
16,294
17,395
17,858
17,640
18,70/
20,069
20,523
19,259
21,203
5,468
5,817
6,305
6,527
6 , 199
6,739
7,226
7,322
6,570
7,661
37
35
17
I
o
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
34,255
34,768
35,776
36,285
35,787
35,916
38,332
39,004
38,938
38,990
23,299
23,853
25,037
26,030
25,336
25,270
27,212
27,387
27,866
28,652
21,69 7
22,093
23,191
24,143
23,190
23,149
25,510
25,802
26,432
27,270
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
39,183
37,059
39,119
41,641
40,916
42,020
43,242
43,258
43,687
44,836
27,434
24,542
43,441
28,768
26,618
29,076
31,774
31,446
33,054
138
34,327
34,626
35,666
3 7 , 180
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
42,563
39,623
36,314
36.142
38,436
39,639
41,392
43,177
40,718
42,139
4 1 , 178
38,057
34,604
34,578
37,094
38,322
40,293
42,100
39,621
40,974
33,843
31,065
27,918
27,962
30,320
31,563
33,899
36,068
3 4 , 3 02
36,028
35,140
32,110
28,770
28 , 6 7 0
30,990
3 2 , 150
34,410
36,480
34,530
3 6 , 140
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
43,874
47,349
49,885
50,656
49,513
47,994
50,813
53,196
54.143
52,313
42,752
46,361
48,816
49,427
48,122
46,617
49,306
51,611
52,688
50,954
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
53,877
55,716
56,082
57,542
1960.
1961.
1962.
1963.
1964.
1965.
1
30.9
36.2
21.3
10,658
8,257
9 , 120
10,300
9,671
9,939
10,156
10,001
9,947
10.702
27.0
40.
24.9
29,424
26,649
23,628
23,711
25,953
27,053
29,082
31,026
29,209
30,618
9,562
8 , 170
6,931
7 , 397
8,501
9,069
9,827
10,794
9,440
10,278
21.2
39.
29.4
37,980
41 ,250
44,500
45,390
45,010
44,240
46,930
^49,557
51,156
!>0 , 4 0 6
32,376
36,554
4 0 , 125
42,452
41,883
40,394
41,674
43,881
44,891
43,778
10,985
13,192
15,280
17,602
17,328
15,524
14.703
15,545
15,582
14,441
17.4
39.
31.1
13.8
13.0
13.0
41.5
40.9
40.3
34.5
35. 7
36.1
52,460
54,476
54,941
55,811
54,084
55,337
56,453
56,422
54,608
55,769
52,251
53,736
54,243
^55,390
54,395
56,225
58,135
58,789
5 8 , 122
59,745
45,222
47,849
48,825
50,232
49,022
50,675
52,408
52,894
51,368
53,297
15,241
16,393
16,632
17,549
16,314
16,882
17,243
17,174
15,945
16,675
12.1
11.1
10.7
SlO.O
10.1
10.1
10.0
9.1
8.4
8.3
40.2
41.5
41. 1
540.8
40.6
40.2
39.5
39.1
38.3
3 7.9
36.6
36.5
37.3
537.b
38.2
38.2
38.8
39.9
40.9
41.3
56,377
55,893
56,861
57,407
58,443
60,216
60,958
61 ,333
®62,657
63,863
65,596
67,594
54,203
53,989
55,515
56,602
58,156
60,444
16,796
16,326
16,853
16,995
17,259
17,984
7.9
7.5
^6.9
6.5
6.3
5.8
37.5
3 7.0
®36.8
37.3
37.0
37.2
42.0
42.5
®43.2
42.9
43.4
43.8
26,616
29,231
28,577
29,751
30,599
30,481
30,539
31,339
This is a copyrighted series. It may not be reproduced without written permission from the publisher.
27,088
27,350
24,382
25,827
28,394
28,040
28,778
29,819
2 9 , 9 76
30,000
31,339
7,828
7,870
8,322
8,751
8,210
8,210
9,629
9,872
10,167
10,702
10,659
10,702
8,262
9,129
10,317
9,675
9,942
10,156
9,996
9,942
10,702
^Decade average, 1869-78.
Decade average, 1879-88.
^Data for 1947-56 have been adjusted to reflect the change in the definitions of employment and unemployment adopted in January 1957.
^Beginning 1953, data are not strictly comparable with earlier years as a result of the introduction of 1950 census data into the estimating procedure.
VO
Beginning 1962, data are not strictly comparable with earlier years as a result of the introduction of 1960 census data into the estimating procedure.
00
o
Series A94 to A126
o
Experienced civilian labor force: Census (Kaplan, C a s e y ) - B L S (Percent)
Year
A94. Service
workers
Fann workers
White-collar workers
Manual workers
A95. Farmers and A96. Laborers
and foremen
managers
A97. Craftsmen,
foremen
A98. Operatives A99. Laborers
1B60.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
19
17
10
12
12
AlOO. Professional
A l O l . Managers A102. Clerical
A103. Sales
A104. Service
workers, private
household
191019U.
19121913,
1914,
1915,
19161917.
1918.
1919.
9.6
16.5
14.4
11.6
14.6
12.0
1920,
1921,
1922,
1923,
1924,
1925,
1926,
1927,
1928,
1929,
7.8
15.3
11.
13.0
15.
11.
6.
12.
15.8
11.0
7.^
8.9
6.3
4.1
1930.
1931.
1932.
1933,
1934,
1935.
1936,
1937,
1938,
1939.
1940,
1941,
1942,
1943,
1944,
1945,
1946,
1947
1948.....
1949
12.4
11.
.8
4.7
6.6
5.3
4.7
.9
5.0
3.
10.4
7.0
12.(
18.4
9.4
7.5
7.3
9.6
6.7
4.7
10.5
10.4
10.8
8.4
7.6
7.7
5.4
5.4
5.3
13.5
13.7
13.2
21.6
21.1
20.8
6.4
6.1
6.3
6.5
6.6
6.7
9.8
10.5
10.6
12.4
12.4
12.5
5.8
6.2
6.3
3.0
3.0
3.0
1950.....
1951
1952
1953
1954
1955
1956
1957
1958
1959.....
11.2
10.9
10.8
^11.4
11.1
11.5
11.9
11.8
12.3
12.4
7.0
6.4
6.3
16.1
6.0
5.7
5.5
4.9
4.5
4.4
5.1
4.7
4.4
13.9
4.1
4.4
4.5
4.2
3.9
3.9
13.0
13.8
14.3
^13.9
13.6
13.2
13.4
13.3
13.3
13.1
20.8
21.0
20.5
1 20.8
20.7
20.7
20.2
19.8
18.8
18.6
6.4
6.7
6.3
16.1
6.3
6.3
5.9
6.0
6.2
6.2
7.3
7.8
8.2
18.7
8.9
8.9
9.2
9.7
10.4
10.5
10.4
10.0
9.9
1 10.2
9.8
10.0
9.8
10.0
10. 1
10.2
12.6
12.5
13.2
1 12.8
13.1
13.1
13.5
13.9
14.0
14.0
6.3
6.2
6.0
1 6.1
6.4
6.2
6.3
6.3
6.4
6.6
3.2
3.1
3.0
1 3.0
2.9
3.1
3.3
3.2
3.4
3.3
1960
1961
1962
1963
1964. . . . .
1965
12.6
13. I
^13.2
13.3
13.3
13.1
4.0
3.8
^3.6
3.3
3.2
3.U
3.9
3.7
2 3.3
3.2
3.1
3.1
12.9
13.0
212.8
13.0
12.7
12. 7
18.6
18.3
^18.3
18.7
18.8
18.8
6.0
5.7
25.7
5.6
5.5
5.6
10.8
11.1
211.5
11.6
11.8
12.0
10.2
10.2
2 10.5
10.2
10.3
9.9
14.5
14.6
2 14.8
14.8
15.0
15.4
6.5
6.6
26.4
6.3
6.3
6.5
3.3
3.5
23.5
3.4
3.3
3.1
Beginning 1953, data are not strictly comparable with earlier years as a result of the introduction of 1950 census data into the estimating procedure.
Beginning 1962, data are not strictly comparable with earlier years as a result of the introduction of 1960 census data into the estimating procedure.
00
hO
Series A105 to A126
Year
A105. Experienced A106. Total pop- A107. Farm pop- Total labor force (Thousands)
civilian labor force: ulation: Census ulation: CensusUSDA
Census (Kaplan,
A108. Lebergott' A l d 9 . BLS
Casey) - BLS,
service workers,
service
(Percent)
(Thousands)
(Thousands)
1860.
1861,
1862.
1863.
1864.
1865).
1866.
1867.
1868.
1869.
31,513
32,351
33.188
34,026
34,863
35,701
36,538
37,376
38,213
39,051
1870.
1871.
1872.
1873^
1874.
1875.
1876.
1877.
1878.
1879.
39,905
40,938
41,972
43,006
44,040
45,073
46,107
47,141
48,174
49,208
1880.
50,262
51,542
52,821
54,100
55,379
56,658
57,938
59,217
60,496
61,775
21,973
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
63,056
64,361
65,666
66,970
68,275
69,580
70,885
72.189
73,494
74,799
24,771
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
76,094
77,585
79,160
80,632
82,165
83,820
85,437
87,000
88,709
90,492
29,875
22,811
Civilian labor force (Thousands)
Alio. Lebergott^ A l l l . BLS
Female labor force (Thousands)
A112. SSRC,
Durand
A113. BLS
Distribution of population by age:
Census (Percent)
A114. Under 14 A 1 1 5 . 1 4 to 19
years
years.
o
I
o
22,772
23,342
23,910
24,479
25,045
25,614
26,182
26,749
27,126
27,831
3,704
23,380
23,949
24,518
25,087
25,656
26,224
26,793
27,362
27,931
28 , 5 0 0
29,268
30,012
30,804
31,548
32,408
33,321
34,295
35,039
35,855
28,376
29,153
29,904
30,698
31,441
32,299
33,212
34,183
34,916
35,721
4,999
32
32
31
31
31
31
31
30
30
30
12
12
11
11
11
11
11
11
11
11
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
4.6
92,407
93,868
95,331
97,227
9 9 , 118
100,549
101,966
103,266
103,203
104,512
32.077
32,110
32,210
32,270
32,320
32,440
32,530
32,430
31,950
31,200
36,850
37,623
38,081
38,832
39,564
39,774
40,238
40,742
41,980
41 , 2 3 9
36,709
37,478
37,932
38,675
39,401
39,600
40,057
40,023
3 9 , 0 76
39,696
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
4.5
106,466
108,541
110,055
111,950
114,113
115,832
117,399
119,038
120,501
121,770
31,974
32,123
32,1C9
31,490
31,177
31,190
30.979
30,530
30,548
30,580
41,720
42,341
42,772
43,699
44,502
45,196
45,885
46,634
47,367
48,017
49,
41,340
41,979
42,496
43,444
44,235
45,169
45,629
46,375
47,105
47,757
49,180
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
5.7
123,188
124,149
124,949
125,690
126,485
127,362
128,181
128,961
129,969
131,028
30,529
30,845
31,388
32,393
32,305
32,161
31,737
31,266
30.980
30,840
48,783
49,585
50,348
51,132
51,910
52,553
53,319
54,088
54,872
55,588
50,080
50,680
51,250
51,840
52,490
5 3 , 140
53,740
54,320
54,950
55,600
48,523
49,325
50,098
50,882
51,650
52,283
53,019
53,768
54,532
55,218
49,820
50,420
51,000
51,590
52,230
52,870
53,440
54,000
54,610
55,230
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
7.1
132, 122
133,402
134,860
136,739
138,397
139,928
141,389
1 4 4 , 126
146,631
149,188
30,547
30,118
28,914
26,186
24,815
24,420
25,403
25,829
24,383
24,194
56,180
57,530
60,380
64,560
66,040
65,300
60.970
61,758
62,898
63,721
55,640
55,910
56,410
55,540
54,630
53,860
57,520
60,168
61,442
62,105
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
8.0
151,684
154,287
156,954
159,565
162,391
165,275
168,221
171,274
174,141
177,073
23,048
21,890
21,748
19,874
19,019
19.078
18,712
17,656
17,128
16,592
64,749
65,983
66,560
^67,362
67,818
68,896
70,387
70,744
71,284
71,946
180,684
183,756
186,656
189,417
192,120
194,572
15,635
14,803
14,313
13,367
12,954
i2,363
73,126
74,175
374,681
75,712
76.971
78,357
1960.
1961.
1962.
1963.
1964.
1965.
7.5
7.4
7.8
7.8
7.8
^8.4
8.2
8.4
8.6
8.6
8.9
9. 1
9.3
9.6
®9.7
9.9
10.0
10.0
30.1
30.0
30.0
29.9
29.9
29.9
29.9
29.9
30.4
30.0
11.8
11.7
11.6
11.5
11.4
11.3
11.2
11.1
11.1
10.9
8,229
29.8
29.8
29.7
29.5
29.3
29.1
28.8
28.5
28.2
27.8
10.9
11.0
11.1
11.1
11.2
11.3
11.3
11.3
11.3
11.3
10,396
27.3
27.0
26.5
26.1
25.6
25.1
24.6
24.1
23.8
23.4
11.3
11.3
11,2
11.2
11.2
11.2
11.3
11.3
11.3
11.3
14,160
14,640
16,120
18,810
19,370
19,270
16,840
16,915
17,599
18,048
23.1
22.9
22.8
23.0
23.0
23.1
23.3
23.9
24.5
25.0
11.2
11.0
10.7
10.5
10.3
9.9
9.6
9.3
9.0
8.7
63,099
62,884
62,966
^63,815
64,468
65,848
67,530
67,946
68,647
69,394
18,680
19,309
19,558
^19,668
19,971
20,842
21,808
22,097
22,482
22,865
25.5
26.0
26.5
27.1
27.6
28.0
28.4
28.6
28.9
29.2
8.4
8.2
8.1
8.1
8.1
8.1
8.3
8.6
8.8
8.9
70,612
71,603
371,854
72,975
74,233
75,635
23,619
24,257
324,507
25,141
25,854
26,653
29.5
29.4
29.3
29.2
29.1
28.9
9.0
9.6
9.9
10.1
10.3
10.6
T h i s i s a copyrighted series; i t may not be reproduced without written permission from the publisher.
Beginning 1953, data are not strictly comparable with earlier years as a result of the introduction of 1950 census data into the estimating procedure.
Beginning 1962, data are not strictly comparable with earlier years .as a result of the introduction of 1960 census data into the estimating procedure.
c»
Co
00
Series A116 to
A126
Distribution of population by age: Census (Percent)
A116. 20 to 24 yrs.
Year
A117. 25 to 44
years
A118. 45 to
64 years
A119 65 years
and over
Birth rate per 1,000 population
A120. Sheldon
(No. per 1,000)
1860.
1861.
1862.
A121. H E W Census
(No. per 1,000)
Death rate per 1, 000 population:
H E W - I Census
A122. Total pop- A123. Persons
ulation
15 to 64 years
(No. per 1,000) (No. per 1,000)
44.3
Immigration rate
<per 1,000 population
A124. Total:
A125. Net:
INS-Census
Census
(No. per 1,000)
4.9
2.8
2.8
1869.
5.2
5.5
6.9
8.7
8.4
3.6
9.0
1870.
1871.
1872.
1873.
1874.
1875.
1B76.
1877.
1878.
1879.
9.7
7.8
9.6
10.7
7.1
5.0
3.7
3.0
2.9
3.6
1863.
1864.
1865.
1866.
1867.
1868.
1880.
1881.
1882.
9.1
13.0
14.9
39.8
11.2
1883.
1884.
1885.
1886.
1887.
9.4
7.0
5.8
8.3
9.0
7.2
1888.
1889.
7.2
8.7
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
8.8
6.6
4.2
3.7
4.8
3.2
3.1
4.2
28
28
28
28
28
28
28
29
29
29
13
13
13
14
14
32.3
14
14
14
14
14
30.0
17
16
15
15
16
15
15
15
14
14
5.9
6.3
8.2
10.6
9.9
12.2
12.9
14.8
8.8
8.3
A126. Gross
stock of civilian tangible
national wealth:
NBER, Goldsmith (Billions
(No. per 1,000) of 1947-49 dol.)
o
I
o
1910,
1911,
1912,
1913,
1914,
1915,
1916,
1917,
1918,
1919-
9.9
9.8
9.7
9.6
9.5
9.4
9.2
9.1
8.4
8.7
29.3
29.3
29.4
29.5
29.5
29.5
29.6
29.6
29.4
29.6
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
8.7
29.9
2 9.9
29.8
29.7
29.7
29.6
29.6
29.5
29.5
29.4
8.6
8.5
8.5
8.5
8.6
8.6
8.6
8.7
8.8
1930.
1931.
1932.
19331934.
1935.
1936.
1937.
1938.
1939.
8.9
8.9
8.9
8.9
8.9
8.9
8.9
8.9
14.7
14.8
14.9
15.1
15.2
15.4
15.6
15.7
16.1
16.1
16.1
16.1
16.2
16.3
16.4
16.5
16.7
16.9
17.1
17.3
17.5
17.8
8.8
8.8
29.5
29.6
29.6
29.7
29.8
29.9
29.9
30.0
30.0
30.1
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
8.8
8.9
8.9
8.8
8.7
8.6
8.5
8.2
8.0
7.8
1950
1951
1952
1953
1954
1955
1956
1957.....
1958
1959
1960
1961
1962
1963
1964
1965
18.0
4.3
4.3
4.4
4.4
4.4
4.5
4.5
4.6
4.7
4.7
30.1
29.9
29.8
29.5
29.9
29.5
29.1
28.5
4.6
4.7
4.8
4.8
4.9
5.0
5.1
5.2
5.2
5.3
27.7
5.4
5.6
5. 7
5.9
28.2
26.1
28.1
26.2
26.0
26.1
11.3
9.4
14.7
13.9
13.6
13.8
13.3
13.2
13.8
14.0
8.8
12.3
12.3
3.2
2.9
2.9
18. 1
1.1
12.9
1.4
13.0
11.5
11.7
4.0
7.4
12.1
4.7
2.8
11.6
6.2
25.1
24.2
23.5
11.7
2.5
12.1
2.6
2.8
22.2
21.2
12.0
11.9
2.5
2.3
21.3
11.3
2.0
20.2
11.3
.8
11.1
10.9
10.7
6.6
19.5
18.4
19.0
18.7
18.4
18.7
19.2
6.7
18.8
11.3
10.6
10.6
19.9
20.0
20.2
20.2
20.3
20.5
20.6
20.5
20.4
20.4
6.8
7.0
7. 1
7.2
7.3
7.5
7.7
7.8
7.9
8.0
19.4
20.3
22.2
22.7
21.3
20.5
24.1
26.5
24.8
24.5
10.8
10.6
10.4
10.9
11.4
11.0
9.9
10. 1
9.9
9.7
6.8
6.6
6.5
6.7
6.6
6.7
6.1
6.0
5.9
5.7
.5
.4
.2
.2
.2
.3
.8
1.0
1.2
1.3
.6
.4
.6
1.1
1.5
1.2
1.1
1.6
1.9
2.2
30.0
29.8
29.5
29.2
28.8
28.4
28.1
27.6
27.1
26.5
20.3
20.2
20.2
20.2
20.2
20.2
20.2
20.1
20.1
20.1
8. 1
8. 3
8.4
8.5
8.6
8. 8
8. 8
8.9
9.0
9. 1
23.9
24.8
25.0
24.9
25.2
24.9
25.1
25.2
24.5
24.3
9.6
9.7
9.6
9.6
9.1
9.3
9.3
9.5
9.5
9.4
5.6
5.6
5.6
5.5
5.2
5. 1
5.2
5.3
5.2
5.1
1.6
1.3
1.7
1.1
1.3
1.4
1.9
1.9
1.5
1.5
2.0
2.2
1.5
1.6
1.8
2.0
2.3
1.6
1.7
1.6
26.1
25.6
25.2
24.8
24.4
24.0
20.0
20.0
20.0
20.0
20.0
20.0
9.2
9.3
9.3
9.3
9. 3
9.3
23.8
23.5
22.6
21.9
21.2
19.6
9.5
9.3
9.4
9.6
9.4
9.4
5.2
5.1
5. 1
5.2
1.5
1.5
1.5
1.6
1.5
1.5
1.9
2.1
2.0
2.0
1.8
1.9
18.3
18.5
6.0
18.8
6. 1
19.1
19.3
19.6
19.7
6.3
6.4
30.2
30.3
30.3
30.3
30.4
30.4
30.4
30.3
30.2
30.1
7.7
7.5
7.2
6.9
6.6
6.5
6.3
6.2
6.2
6.2
6.2
6.2
6.4
6.7
6.8
7.0
11.1
10.9
11.6
.3
.2
7.5
7.6
7.5
7.8
7.6
7.0
.3
.3
.4
.5
6.8
...
...
.2
.6
...
...
...
...
...
1,262.5
1,293.2
1 ,335.8
1,387.4
1,425.3
1,478.3
1,533.5
1,579.1
1,631.0
1,682.0
1,749.4
1,813.1
1,880.4
1,937.0
...
...
...
...
...
...
...
09
oo
Series A127 to A137
Year
(Billions of
1947-49 dollars)
of nonbusiness components of national wealth:
Goldsmith, (Billions of 1947-49 dollars)
A134. Private A135. Private
A136. Consumer
residential
land
durables
structures
A137. Net reproducible private
business wealth
per person engaged:GBE-NBER,
Kendrick, Goldsmith (1947-49=
100)
87.3
21.7
81.2
41.20
109.43
115.6
32.7
88. 7
16.42
56.7
138.02
125.
37.
105
53.59
17.34
77.77
199.62
161
57.
110
53.10
46.7
14.39
97.5
191.9
146
49,
126
103.27
58.4
47.29
14.90
125.24
189.1
139.
5 7.
104.
2 3 5 . ,8
2 2 9 , .8
2 4 5 . .6
2 5 6 . ,8
2 7 2 . .5
2 7 8 , ,0
9 4 . 49
9 2 . 84
9 5 . 11
9 7 . 00
9 9 . 43
1 0 1 . 40
70. . 0 9
7 0 .. 5 6
77. . 8 5
77. . 4 9
6 0 ,. 9 5
78. . 3 1
53 . 6 2
49 . 3 4
54 . 8 8
63 . 2 9
71 . 4 9
76 . 1 8
17.. 4 1
17, .16
17. ,59
18, .82
2 0 , .36
2 1 . .73
135.
141.
141.
148.
153.
158.
21
29
15
98
10
94
184. . 2 8
2 0 8 . .29
2 1 0 . .68
2 1 3 . .95
2 2 0 . .14
2 2 5 . .50
134. 5
139, 2
137. 5
1 3 7 , ,4
1 3 8 . ,7
1 4 0 . ,9
6 1 .. 3
5 7 , .5
6 4 , .7
7 3 , .8
8 2 , .2
9 0 , .4
9 7 ,. 2
9 4 . .7
95. .8
95. .6
9 9 . .4
105. .0
2 9 2 ,.1
3 1 0 . .5
3 2 2 ,. 1
3 3 2 ,• 0
3 3 9 , ,2
3 5 1 ,• 8
3 6 5 , .9
3 7 8 , .5
3 8 2 .• 3
103.
106.
109.
113.
117.
122.
127.
132.
136.
66
77
91
66
52
46
26
41
43
83. . 8 7
9 2 ,. 3 1
9 4 .. 6 7
9 4 .. 9 6
9 3 .. 9 6
97. . 7 2
101. . 0 6
102. . 7 1
101. . 0 2
81 . 3 6
87 . 2 0
92 . 3 5
97 . 7 7
101 . 7 4
105 . 5 7
111 . 7 6
117 . 7 2
119 . 2 4
2 2 . .99
2 4 , .10
2 4 , .89
2 5 , .42
2 5 , .63
2 5 , .78
2 5 , .57
2 5 , .32
2 5 , .34
158.
162.
168.
172.
178,
184.
188.
195.
202.
53
76
18
69
53
51
80
22
87
2 3 3 . .68
2 4 0 . .82
2 4 7 . .73
2 5 5 ..29
2 6 3 ,.20
2 7 3 . .87
2 8 3 , .25
2 9 1 . .28
2 9 9 .. 1 1
1 4 4 . .0
1 4 7 . .3
1 4 8 , .8
1 5 0 , .5
1 5 3 , .3
1 5 6 . .5
1 6 0 . .8
1 6 4 , ,8
1 6 9 , ,0
102, . 9
110. .2
115. . 8
123, .3
129, . 8
141. .3
149. .5
156. .3
159. .7
107, • 1
109. .6
112. .9
114. .5
120. .8
122. .4
124. .8
129. .2
135. . 0
313.9
108.0
48.88
32.55
16.81
1912.
463.5
160.7
77.33
37.70
31.38
13.64
5 87,
20
91.59
55.8
43.98
778.
25
116.0
63.1
743.
22
113.39
74
224.
7 6 0 ,. 6
7 8 8 . .5
8 1 2 ,. 7
8 4 5 ,. 9
8 8 2 .• 7
9 1 0 ,. 4
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
Net stocks
NBER,
A133. Government civilian
assets
75.64
1900.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
O
Net reproducible business wealth (stock): NBER, Goldsmith
(Billions of 1947-49 dollars)
A129. Private
A130. Private
A131. Private
A132. Agriculnonresidential inventories
nonfarm produc- tural equipment
er durables
nonfarm strucand nonresitures
dential structures
A127. Net stock of
civilian tangible
national wealth:
A128. Total
NBER, Goldsmith
9 . 16
22.62
1940.
1941.
1942.
1945^...1945
1946
1947
1948
1949
1950
1951
1952
1959
1960
1961
1962. . . . .
1965
9 4 9 ..8
9 9 1 ,. 0
1,, 0 2 2 , .4
1,, 0 5 5 . . 4
1 , 0 8 6 ..4
1,, 1 3 2 , . 1
1,, 175.. 0
1<, 2 1 6 . . 4
1,, 2 4 4 . . 4
.,
» •
.,
•. ,,
.,
»•
»
.
•.
..
» .
»
.
»
.
»•
«
.
• .
• . » .
http://fraser.stlouisfed.org/
^This 1945 figure is comparable with earlier years.
Federal Reserve Bank of St. Louis
.• «
•... ..
... .
» .
»
.
.
.. .
• .
.
«
.
» .
.
•
.
»«
.
• .
.
•..
... ... ..•
.. .• ..
...
,,.. .. .•
...
> .
.
•. .
.... ...
.. ..
.. .
•
«
...
.. •. ..
.. «
. ..
.. .
«
. ,. .
. ..,
... ,.. .
>.
> *
.. .
. .«.
» .
..
..
« .
.<
» .
. ...
.,
•
.»
'
.
.
I
O
Series ADS to A148
Year
Net-gross sto ck ratio: NBER,
Goldsmii h (Percent)
A138. Private pro- A139. Private
ducer durables
non residential
structures
Stock of fixed business capital: QBE (Billions of 1954 dollars)
Net straight-line
Net double declining
Gross
depreciation schedules
balance schedules
A141.2
A143.2
A142.'
A145.2
A144J
A140J
Manufacturing capacity index
AUG. McGrawHill
(Dec. 1950-100)
A147. FR
(Percent of
1957-59 output)
A148. Number
of operating
businesses:
QBE
(Thousands)
1917,
1918,
1919,
1920,
1921,
1922,
1923,
1924,
1925,
1926,
1927,
1928,
1929,
3,029,
08
34
229
89
87
154
1930,
1931,
1932,
1933,
1934,
1935,
1936,
1937,
1938,
1939,
2.993.7
2,916.4
1940,
1941,
1942,
1943,
1944,
1945,
1946,
1947,
1948,
1949,
80
84
3.318.9
3,276.0
3.295.3
3.030.0
2.839.1
2.995.4
3.242.5
3.651.2
3 ,872.9
3.984.2
100
105
113
124
130
139
148
156
163
170
87
90
94
100
104
108
113
119
122
126
4,008.7
4.067.3
4,118.2
4.187.7
4.239.8
4,286.8
4,381.2
4,470.7
4,533.0
4,583.0
177
182
189
197
205
219
131
134
139
145
151
160
4,658.0
4,713.0
4,755.0
4,797.0
1950,
1951,
1952,
1953,
1954,
1955,
1956,
1957,
1958,
1959,
2,828.1
2.782.1
2 ,884.0
2,991.9
3.069.8
3,136.3
3,073.7
3.222.2
52
55
58
60
60
46
46
47
47
48
60
61
60
60
60
59
48
49
50
51
51
52
5 3
5 3
54
60
60
59
1960,
1961,
1962,
1963,
1964,
1965,
^Stocks based on Bulletin F lives.
393
59
38
19
149
246
200
50
20
162
53
45
296
242
24
95
636
50
344
280
28
227
679
532
366
30
29
242
^Stocks based on lives 20 percent shorter than Bulletin F.
00
00
Series A160 toA168,B1andB2
Year
A149. Number of
listed operating
businesses: Dun
and Bradstreet
(Thousands)
Output per unit of labor input
A150. Total Fac- A151. Output per
(Index: 1929=100)
tor productivity: Wunit
l 11 L of
W 1 total
Lw VU 1 inIII
A152. NBER,
A153. CED,
NBER,Kendrick put: CED,
Kendrick
Den i son
Den i son
(Index:
1929=100)
(Index:
1929=100)
o
A154. Output
per unit of capital input: NBER,
Kendrick
(Index:
1929=100)
A155. Output
Output per man-hour
per unit of reproA157. Labor
ducible capital: A156. NBER,
force data: BLS
Kendrick
CED, Denison
(Index:
1929=100)
(Index:
1929=100)
(Index:
1957-59=100)
Output per employee
A158. NBER,
Kendrick-Lebergott
(1929 dollars)
A159. OBEBLS
I
(1958 dollars)
1860.
1861.
IQbZ.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
427.3
456.9
500. 1
493.5
558.5
1880.
1881.
746.8
781.7
1882.
822.2
1883.
1884.
1885.
1889.
864.0
904. 8
920.0
969.8
994.3
1,046.7
1.051.1
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1,lie.6
1»143.0
1.172.7
1,193. 1
1.114.2
1.209.3
1,151.6
1.058.5
1.105.8
1.147.6
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1,174.0
1,219.0
1,253.0
1886.
1887.
1888.
^62.
602.8
6 39.3
636. 6
661.4
702.2
1,281.0
1,320.0
1,357.0
1,393.0
1,418.0
1,448.0
1,486.0
2n
^44.
-78.
56.0
50.0
74.8
43.6
58.6
59.1
52.4
53.2
56.0
54. 1
55.3
57.7
56.3
6C.0
60.9
77.8
77.1
79.6
71.9
67.6
73.5
69.2
74.3
73.3
77.9
45.7
46.6
49.4
47.4
47.7
50.7
49.5
52.9
53.7
54.7
1,196
1,237
1,292
1,319
1.356
1,404
1.357
1,455
1,419
1,424
61.7
65.2
61.9
62.9
63.5
64.2
68. 5
68.0
65.6
69.6
77.0
83.2
80.7
81.7
78.0
81.7
55.6
59.4
57.2
58.5
58.4
59.9
64.4
64.2
1,411
1,518
1,487
1 ,524
1,492
1,543
1,631
1,627
1,543
1,642
61.8
58.7
58.5
61.7
59.5
63.7
64. 1
65.4
61.0
65.7
69.8
66.7
67.7
67.2
68.8
73.5
72.7
68.2
73.4
91.0
88.1
86.2
90.3
76.2
84.3
61. 1
106.7
65.6
34.4
3,432
o
1910
1911
1912.....
1913. . . . .
1914
1915
1916
1917
1918
1919
1,
1.
1»
1»
1»
1«
If
If
If
If
515 .0
525 .0
5 6 4 ,.0
6 1 7 ,.0
6 5 5 ,.0
6 7 5 ,.0
7 0 8 ,.0
733 .0
708 • 0
711 ,0
7 1 ,. 6
7 2 ,,7
7 3,. 7
7 5 ,• 6
7 0 ,• 3
7 2 ,.0
7 7 ,.4
7 3 ,,0
7 8 ,. 0
8 2 ,. 1
9 0 ,.0
9 0 , .3
9 2 ,.9
9 1 ,.7
8 8 ,.0
8 9 ,a
8 8 ,.2
8 5 , .4
9 0 ,• 8
9 2 ,• 9
67.
69.
69.
71.
67.
70.
73.
69.
75.
80.
7
0
7
8
9
2
7
5
0
4
8 9 . .4
8 9 . .2
9 1 .a
9 0 . ,4
8 7 . .5
8 9 . ,0
8 6 . .5
8 3 . ,2
8 7 . ,8
9 2 .. 1
8 2 , »4
8 3 ,. 0
8 5 ,a
8 6 ,.0
7 6 ,. 6
7 7 ., 0
8 7 ..5
8 2 ,. 6
8 6 ,a
8 6 ,.8
1 0 3 ,. 7
1 0 5 ,. 6
1 0 9 ,.2
1 0 6 ,.4
9 9 ,.2
9 9 ,• 1
1 0 1 ,, 1
9 8 ,. 5
1 0 5 ,.8
1 0 1 ,. 7
6 4 , ,4
6 5 . ,7
6 6 . ,9
6 9 . ,2
6 4 . ,7
6 7 . .2
7 2 . ,3
6 8 , ,6
7 4 .a
7 9 . ,0
3 4 , ,4
3 4 , ,6
3 5 , .4
3 5 , ,5
3 4 , ,3
3 4 , ,2
3 4 , ,7
3 3 , ,6
3 5 , ,5
3 6 , .9
If
If
If
If
If
If
If
If
If
If
628
661
681
708
609
660
803
729
770
822
3 ,461
3 ,509
3 ,585
3 ,536
3 ,446
3,421
3 ,516
3 ,476
3 ,663
3 ,598
1920....,
1921
1922. . . . .
1923
1924. . . . .
1925
1926
1927.....
1928
1929.....
I f 821 .0
I f 9 2 7 ,.0
I f 9 8 3 ,.0
I f 9 9 6 ,.0
2f 0 4 7 ,. 0
2f 1 1 3 ,. 0
2f 1 5 8 ,• 0
2f 1 7 2 , . 0
2f 1 9 9 ,. 0
2 , 2 1 3 ..0
8 1 ,.2
8 5 ,• 1
8 5 ,a
9 0 ,.2
9 3 ,.6
9 3 ,.6
9 5 ,.7
9 6 ,. 1
9 6 ,.0
1 0 0 ,.0
8 6 ,,7
8 3 ,.8
9 1 , .5
9 5 ,.6
9 5 ,.2
9 9 ,• 1
1 0 0 ,.3
9 8 ,.9
9 7 ,.5
1 0 0 ,.0
79.
86.
84.
88.
92.
92.
94.
95.
95.
100.
6
8
9
2
9
5
4
6
9
0
8 6 , >9
8 6 . .9
9 2 . .7
9 5 . .2
9 6 , .0
9 9 . .2
9 9 . .9
9 9 , .0
9 7 , ,6
1 0 0 . .0
8 5 ,. 4
8 1 ,a
8 5 ,.7
9 5 ,.9
9 5 , »3
9 6 ,.4
9 9 ,.2
9 7 ,.5
9 6 ,a
1 0 0 ,. 0
9 1 ,.8
8 1 ,.9
9 3 ,. 1
1 0 0 ,.0
9 6 ,.7
1 0 1 ,• 3
1 0 2 ,. 7
9 9 ,• 8
9 7 ,• 9
1 0 0 ,.0
7 8 . .3
8 3 . ,8
8 3 . ,0
8 7 . ,8
91, 7
9 1 . ,6
9 4 ,, 1
95, 7
95. 7
1 0 0 , ,0
3 5 . .7
3 5 , ,8
3 9 . .3
4 1 . .2
4 1 , .9
4 3 , .9
4 5 .a
4 5 . .3
4 5 . .2
4 7 . ,3
If
If
If
2f
2f
2,
2,
2f
2f
2,
852
913
899
012
088
070
138
158
170
248
3 ,536
3 ,415
3 ,708
3 ,890
3 f911
4 ,101
4 ,214
4 ,207
4 ,206
4,251
1930. . . . .
1931
1932. . . . .
1933.....
1934.....
1935.....
1936
1937
1938
1939
2f
2,
2f
li
If
If
2f
2,
2f
2,
1 8 3 ,. 0
1 2 5 , »0
0 7 7 ,. 0
9 6 1 ,.0
9 / 4 , .0
9 8 3 ,.0
0 1 0 ,.0
0 5 7 ,.0
1 0 2 ,. 0
1 16,. 0
9 6 , ,3
9 6 ,.4
9 1 ,.9
9 1 ,• 3
1 0 0 ,.8
1 0 5 ,. 9
1 1 1 , .2
1 1 3 ,.6
1 1 5 , .2
1 2 0 ,.2
9 3 ,.3
9 1 ,.2
8 1 ,.5
8 0 ,. 6
8 7 ,a
9 1 ,, 2
9 4 ,.6
9 5 ,.3
9 4 , ,5
97,
98.
102.
100.
99.
108.
111.
114.
115.
120.
123.
8
1
8
3
6
9
4
6
3
6
9 5 , .6
9 5 ,• 9
8 8 . .2
8 6 . .8
9 2 , ,3
9 4 , ,5
9 5 ..3
9 4 ..9
9 5 , .4
9 7 ,, 1
8 9 ,. 0
8 2 ,. 3
7 1 , »9
7 2 ,, 5
8 2 .. 0
9 0 .. 6
1 0 2 .. 2
1 0 7 ,. 7
1 0 0 ,. 8
1 1 0 ,. 4
8 8 ,. 0
8 1 ,. 9
7 0 ,. 2
6 9 ,. 3
7 7 ,. 4
8 5 ,. 8
9 6 ,. 1
1 0 0 ,. 0
9 4 ,. 7
1 0 2 , »0
9 7 ,, 5
9 8 , ,4
9 5 , ,0
9 3 , ,5
1 0 4 , ,5
1 0 8 , ,0
1 1 3 , ,3
1 1 4 , ,0
1 1 7 , ,8
1 2 2 , .2
4 5 .. 1
4 5 , .0
4 2 . .4
4 1 ..7
4 6 . .2
4 8 . .4
5 1 . .4
5 1 , .5
5 2 . ,7
5 4 . .8
2f
2f
If
If
If
2f
2,
2,
2f
2f
140
152
995
937
991
180
278
352
321
407
4f012
3 ,969
3 ,680
3 ,627
3 ,750
3 ,985
4,317
4 ,359
4,329
4 ,540
1940
1941
1942.....
1943
1944.....
1945
1946. . . . .
1947.....
1948
1949
2f
2,
2f
2f
If
1,
2f
2,
2f
2f
1 5 6 ,. 0
1 7 1 ,. 0
1 5 2 ,, 0
0 2 3 ..0
8 5 5 ,.0
9 0 9 ,.0
1 4 2 ,• 0
4 0 5 ,.0
5 5 0 ,.0
6 7 9 ,.0
1 2 2 ,.0
1 3 1 ,,3
1 3 3 ,a
1 3 7 ,• 3
1 4 7 ,.9
1 5 2 ,.9
1 4 4 , ,5
1 4 3 ,. 1
1 4 5 ,• 9
1 4 9 , ,3
1 0 1 ,• 3
1 0 6 ,.6
1 0 8 ,.3
1 0 7 ,.9
1 1 2 ,.2
1 1 4 ,. 9
1 1 2 ,a
1 1 0 ,,5
1 1 1 ,.9
1 1 2 ,.3
124.
131.
131.
134.
144.
150.
143.
142.
146.
152.
4
3
3
1
5
9
1
3
4
8
9 9 , .5
1 0 2 , ,3
1 0 1 ..3
9 8 ,a
1 0 1 ,. 1
1 0 4 , .8
1 0 6 , ,4
1 0 5 , .8
1 0 7 . .5
1 0 9 ,• 5
1 1 4 ., 9
1 3 1 ..7
1 4 0 .. 2
1 5 0 . »4
1 6 1 .. 3
1 6 0 ,. 7
1 5 0 ., 3
1 4 6 , »7
1 4 4 ,. 6
1 3 7 .. 9
1 0 9 ,. 5
1 2 2 ,. 4
1 3 4 , »4
1 4 8 ,. 2
1 5 9 ,. 6
1 5 7 ,. 6
1 3 7 ,. 9
1 3 2 ,. 3
1 3 2 ,. 0
1 2 7 ,. 1
1 2 4 , ,0
1 3 4 , .6
1 3 6 . .6
1 4 1 , ,5
1 5 2 , ,6
1 5 9 , .0
1 5 0 , ,9
1 5 1 , .5
1 5 6 . .7
1 6 2 . .7
5 7 . .4
6 0 ,• 9
6 1 ,• 5
6 3 ..0
6 7 . .2
7 0 ,.0
6 7 ..7
6 7 ..9
7 0 . .2
7 1 ,• 9
2,
2f
2f
2,
2,
2f
2f
3f
2f
2,
518
669
679
681
808
816
821
100
856
842
4 f727
5,074
5 ,159
5 ,309
5 ,527
5f528
5 f325
5 f217
5 f344
5f398
1950. . . . .
1951
1952
1953
1954. . . . .
1955. . . . .
1956
1957
1958
1959
2f
2f
2f
2,
2f
2,
2.
2f
2,
2,
6 8 7 ..0
6 0 8 ,.0
6 3 7 ,.0
6 6 6 ,.7
6 3 2 ,.3
6 3 3 ,. 1
6 2 8 ,.9
6 5 2 ,• 2
6 7 5 ,.4
7 0 8 ,.2
1 5 8 ,.7
1 6 0 , ,4
1 6 2 , .5
1 6 6 , .4
1 6 8 ,• 4
1 7 6 , .8
1 7 7 ,. 1
1 7 9 ,• 4
1 1 8 , .4
1 1 9 ,.0
1 1 9 ,. 1
1 2 1 , .6
1 2 1 ,a
1 2 5 , ,4
1 2 4 ,, 3
1 2 5 ,• 5
1 2 4 , .2
162.
164.
167.
173.
178.
186.
188.
192.
8
8
7
1
4
8
0
6
1 1 5 , ,3
1 1 5 ,a
1 1 5 . .2
1 1 7 , .7
1 1 8 .. 7
1 2 2 . .6
1 2 1 . ,4
1 2 3 . .4
1 2 3 . .4
1 4 5 ..5
1 4 6 ,. 0
1 4 5 ,. 6
1 4 5 .. 3
1 3 8 , »9
1 4 6 ,. 8
1 4 5 ,• 1
142,
1 3 3 ,. 9
1 3 6 ,. 6
1 3 6 ,. 1
1 3 8 ,. 3
1 3 1 ,. 9
1 3 7 ,. 8
1 3 5 ,• 9
1 3 3 ,• 6
1 2 7 ,. 6
1 7 5 , ,4
1 7 9 , ,4
1 8 3 , ,5
1 9 0 . ,9
1 9 5 , ,4
2 0 4 , .8
206. 5
2 1 1 , ,7
3f
3,
3f
3f
052
122
184
267
5 f787
6 ,002
6 f 113
6 f 303
6f 336
6,637
6 ,603
6 , 6 73
6,716
6 ,985
1960
1961
1962
1963
1964
1965
2,
2f
2,
2,
2,
7 0 7 ,.5
6 4 1 ,.5
5 8 9 ,• 4
5 4 4 ,.0
5 2 4 ,.0
^Decade average, 1869-78.
00
.,
•. ,,
•.«.
• ,
> .
>.
> .
1.
> .
>.
^Decade average, 1879-88.
.,
.•, ,
.. ,•
> .
> •
1 .
.
.. ....
• •
•
....
.
.
..
> .
.«
.. ,,
» .
>
.
1 .
• ,
,•
.. .•
1 .
> .
1 .
.,
.,
.. ,,
.,
» .
> .
.. ,,
.,
•
.
.,
•
.
» .
•
.
t.
.,
» .
.. ,.
> .
'
.
> .
....
> .
..
'
.
7 8 , ,5
8 2 .a
8 4 . ,5
8 8 , .4
9 0 , .8
9 4 ..7
9 4 , ,6
9 7 , .2
9 9 . ,4
1 0 3 , .4
1 0 4 . ,6
1 0 7 . .4
1 1 3 . .0
1 1 6 . .7
1 2 0 . .7
1 2 4 . .2
...
...
...
...
...
...
...
...
...
...
7,048
7 ,167
7 ,496
7 ,701
7,935
8 ,203
<x>
o
Series A160 to A168, B1 and B2
Output per person engaged
Year
A160. NBER,
Kendrick
A161. OBE
(1929 dollars)
(1958 dollars)
Manufacturing output
Agricultural output
per man-hour
per man-hour
A163. Labor
A164. Establish- A165. NBER,
A166. Establish- A167. NBER,
A168. Labor
force data: BLS ment data: BLS Kendrick
ment data: BLS Kendrick
force data: BLS
Nonagricultural output per man-hour
A162. NBER,
Kendrick
(Index:
1929=100)
(Index:
1957-59=100)
(Index:
1957-59=100)
(Index:
1929=100)
(Index:
1957-59=100)
(Index:
1929=100)
o
Total unemployment rate
(Percent^
Bl. Lebergott^
I
(Index:
1957-59=100)
CD
Lb60.
1B61.
18b2.
1663,
lb64.
1865.
1866,
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
28.2
61.0
31.1
72.2
40
1880.
1881.
1882.
1883.
1884.
1885.
36
^4.
1886.
1887.
1888.
1889.
1 ,123
41 . 1
39.4
77.0
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1 ,170
1,192
1,272
1,212
1,201
1,283
1,249
1,333
1 ,344
1,386
44. 1
44.9
49.4
47.2
47.7
50.6
47.9
51.2
51.6
52.8
40.7
40.8
41.2
38.6
40.5
43.3
41.0
42.7
47.3
45.5
^4.7
7 7.0
72.5
69.9
71.7
75.6
80.3
85.6
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1 ,402
1 , 503
1 ,452
1,480
1 ,466
1 ,507
1,621
1,608
1,506
1,612
53.6
58.5
55.7
56.6
56.5
57.8
62.3
62.7
59.3
64.7
44.1
46.9
49.2
47.6
50.0
50. 1
50.8
49.0
45.8
51.8
39.9
40.7
4.0
5.4
3.0
11.7
18.4
13.7
14.4
14.5
12.4
6.5
88.6
87.9
5.0
4.0
3.7
3.9
5.4
4.3
1.7
87.9
86.8
85.6
87.6
89.4
89.8
94.0
89.3
90.5
88. 1
2.8
33.5
B2. BLS
8.0
5.1
7
3
5
0
6
9
2
7
7
6
4 0 ., 5
41. . 1
41, . 3
4 1 ,. 8
4 0 , .4
39,.6
4 0 , .0
38, .4
4 1 , .6
4 3 , .4
5 1 , .1
4 8 , .9
5 6 , .2
5 8 , .8
5 9 ,. 1
6 6 , .7
6 5 , .6
6 1 , .0
6 0 , .9
5 8 , .0
4 , 362
79..4
86 .. 1
84,. 0
87. .8
93. .4
92. .6
95. .0
95. .3
96, . 1
100,. 0
41. 1
41. 7
45. 5
46. 9
4b. 5
50. 7
52. 0
5 1. 3
51. 4
53. 6
4 1 , .9
4 2 ,. 5
4 6 , .4
4 7 ,• 8
4 9 ,• 4
5 1 , .6
5 3 , .0
5 2 , .3
52, .5
54, .7
6 1 , .5
7 1 , .0
8 0 , .4
7 7 , ,4
8 2 , .3
8 7 , ,7
8 9 , ,4
9 1 , .5
9 5 , ,6
100, .0
4,
3,
3,
3,
3,
4,
4,
4,
4,
087
05 7
74 8
653
701
951
271
361
329
586
98. .9
100, . 7
9 8 .. 7
96. .4
108 ..5
I l l , .4
115,.6
116. . 4
119, . 4
123. .6
51.
52.
50.
49.
54.
57.
59.
59.
60.
62.
9
4
2
6
9
0
5
3
6
6
52, ,9
53, .4
5 1,• 2
5 0 , .6
5 6 , .0
5 8 ,• 0
6 0 ,. 7
6 0 ,• 5
6 1 , ,9
6 3 , ,9
100, .7
103, ,9
9 7 , .1
1 0 5 , .7
110, .4
1 1 7 , ,6
1 1 8 , ,5
116, .9
1 1 4 , .9
1 2 5 , .8
2 ,568
2 ,719
2 ,819
2 ,939
3 , 2 15
3 ,276
3 ,005
2 ,894
3 ,005
3 ,056
4,
5,
5,
5,
5,
6,
5,
5,
5,
5,
786
082
254
505
943
0^3
561
42 9
5 76
746
124,.4
132. .6
133, • o
138, .6
150. .3
156. .6
146,.2
145, . 7
149. . 5
155,.5
65.
67.
67.
68.
73.
76.
73.
72.
74.
76.
2
3
6 6 , ,3
6 8 , .7
6 8 , ,7
7 0 , .2
7 5 ,. 3
7 8 ,• 4
7 4 , .6
7 4 ,. 3
7 6 , .5
7 9 ,• 5
1 3 1 , .9
1 3 6 , .7
1 3 9 ,, 1
141, .0
1 3 9 . .4
1 3 7 ,• 5
1 2 6 . .4
1 3 3 , ,8
1 3 8 , .6
1 4 3 . .7
3 ,269
3 , 3 30
3 ,407
3,464
6,
6,
6,
6,
6,
7,
7,
7,
7,
7,
155
304
409
626
340
147
135
240
384
732
165, , 6
168. .7
171. .7
176, .3
179, .9
188, .2
188. .7
192, .3
82.
85.
87.
90.
92.
96.
9:?.
97.
99.
103.
4
6
6
3
8
7
8
7
1
1 5 5 . .3
1 5 3 . .3
1 5 7 ,. 1
163. .9
1 6 8 . .5
1 7 9 . ,7
1 8 3 . .2
1 8 7 ., 1
1.
L
8 4 , .6
a 6 ,• 3
8 7 ,• 2
8 9 ,, 7
9 1,,7
9 5 ,, 7
9 5 ,, 1
9 7 , .2
9 9 , .6
1 0 3 ,. 1
7,
8,
8,
8,
9,
9,
83 5
040
433
706
016
290
103.
105.
111.
114.
118.
120.
8
8
4
4
2
9
1 0 4 , .4
107. .4
1 1 2 , .3
1 1 5 , >7
1 2 0 ,• 2
1 2 3 , .4
1910
i'^11
1912
1913
1914
1915
1916
1917
1918
1919
1 ,586
1 ,613
1,641
1 ,683
1,567
1,603
1,719
1 ,622
1 ,b94
1,761
62, ,7
65..2
64, .4
68 ,. 6
62, , 7
64. .4
71 ..3
66. • 0
74.. 1
79.. 7
1920.
1921
1922
1923
1924
1925
1926
1927
1928
1929
1 ,768
1,826
1,832
1 ,958
2 ,053
2 ,045
2 ,120
2 , 138
2 , 140
2 ,215
1930
1931
1932
1934
1935
1936
1937
1938
1939
2 ,110
2 , 125
1,965
1 ,90.3
1 ,939
2 , 136
2 ,248
2 ,358
2 ,337
2 ,444
1940. . . . .
1941
1942
1943
1944
19^5
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957.....
1958
1959
1960
1961
1962
1963.....
1964
1965
•,
•,
.,
.• ,,
•
.
•
.
» .
» •
».
39.
40.
40.
41.
39.
38.
39.
37.
40.
42.
j
7
6
9
2
9
4
7
^This is a copyrighted series; it may not be reproduced without written permission from the publisher. See appendix 2.
.. ..
..
... ..
.. .
.
.. .
..
..
. ..
*
..
..
..
.
7 5
78 2
81 8
.. ,.
> .
• I ..
..
1 .
85
87
88
89
90
96
95
97
99
103
1
1
2
5
9
8
1
8
1
3
103
106
112
115
119
8
7
6
4
7
.
9 0 , .0
8 3 , .3
9 7 , ,2
8 5 , .6
9 2 ,• 7
101, .3
8 9 . .6
9 6 . .2
8 6 , .2
8 8 , ,4
34,.0
32, .4
36,.5
33.. 1
35, .0
3 7,. 7
34, ,8
36, . 1
34, , 5
35,,4
D ,, 9
6 , .7
4 ,. 6
4 ,.3
7,.9
8.. 5
5 ,. 1
4 ,• 6
1.. 4
1,.4
8 5 , .8
8 7 , .6
9 0 , ,4
9 5 , .9
9 0 . ,0
9 4 ., 6
9 3 . .4
1 0 0 .. 1
9 6 .. 1
1 0 0 , .0
34, .4
3 4 , .0
35,.5
37, • 1
35, . 1
36,.8
35, • 8
38, ,9
3 6 ,, 9
38, .5
3 .. 2
11, , 7
6 ,, 7
2 ,, 4
5..0
3, .2
1,,8
3, .3
4 ,. 2
J , .2
3 .2
9 4 , .0
1 0 3 . .0
102. .2
105. .2
101. .0
1 0 7 . ,0
102, .9
1 0 6 . ,8
119, ,8
1 1 9 . ,5
3 6 ,, 9
4 1 , .5
4 1 , ,8
4 0 , .8
37, .8
4 1 , .1
38, . 3
4 2 , .5
4 5 ,, 5
4 6 ,• 3
6 , ,9
1 6 , ,3
2 4 ., 1
2 5 . ,2
2 2 , ,0
2 0 ,. 3
1 7 , ,0
M , ,3
19. 1
17. ,2
8 .7
15 . 9
23 . 6
24 . 9
21 . 7
20 . 1
16 . 9
14 . 3
19 . 0
17 . 2
1 1 9 . .9
1 3 2 ., 6
1 3 6 ,, 7
131. , 5
1 3 4 , ,0
1 3 7 . .3
1 4 5 , ,4
1 4 6 ,, 1
161. 3
1 6 5 , ,9
4 5 . .0
4 9 , .3
52. .0
4 9 ,• 8
4 9 ,. 7
4 9 , .7
52. .9
5 0 . ,7
5 9 , .0
57. .0
1 8 2 . ,5
1 8 0 , ,3
1 8 9 , ,7
2 1 7 ,, 7
232. 7
2 4 0 ,, 3
2 5 2 , ,5
2 6 5 , ,6
6 5 ,, 1
6 5 . .0
7 0 . .5
79,,7
8 3 , ,8
8 4 . .3
8 7 . .8
9 3 , .3
1 0 3 .. 1
1 0 4 ., 6
•
^Decade average, 1869-78.
''Data for 1947-56 have been adjusted to reflect the changes in definitions of employment and unemployment adopted in January 1957.
^Beginning 1953, data are not strictly comparable with earlier years as a result of the introduction of the 1950 census data into the estimating procedure.
^Beginning 1962, data are not strictly comparable with earlier years as a result of the introduction of the 1960 census data into the estimating procedure.
.,
...,..
... ..,
> .
'
.
1 1 0 , ,3
1 1 9 ,, 5
1 2 1 , .6
1 3 2 , ,3
1 3 2 ,, 5
1 4 7 ,. 1
^Decade average, 1879-88.
.,
'
.
..
«
.
14 . o
9 .9
4
1. 9
1 .2
1.9
3 .9
.9
3.8
5 .9
./
• .
• .
. ...
.«
'
.. .
.
• i ,.
5. 3
3. 3
3.1
.9
5. 6
4 .4
4 .2
4 .3
6. b
5. 5
5. D
6 .7
.6
5. 7
5. 2
4. 6
SeriesB69to B79
B3. Unemployment
rate for married
men: BLS
Year
(Percent)
B4. Actual avg.
annual hours per
employee:
NBER,Kendrick
B5. Potential
average annual
hours per employee: J EC,
Knowles
Average weekly hours,
civilian economy (Hours)
B7. BLS
B6. NBER,
Kendrick
(Hours)
(Hours)
(Hours)
Labor force participation rates: LebergottAverage weekly hours, production
SSRC(Durand)-BLS (Percent)
workers in mfg. estab.
BIO. Total^
B13. Male
B9. BLS
B l l . Male
B12. Female
B8. NBER,
rates, 14 to
Kendrick
19 years
(Hours)
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1368.
55.9
1870.
1871.
1872.
1873.
1874.
22,76
253.
1875.
1876.
1877.
1878.
54.
1879.
1880.
1881.
1882.
1883.
1884.
3 2 , 7 7
1885.
1886.
1887.
1888.
53.5
781
53.
1889.
2,
1890.
2 , 7 8 9
53. 7
1891.
2,
791
1892.
2, 800
53.7
1893.
2,
779
53.5
1894.
2,
740
5 2 . 7
1895.
2 , 7 6 4
53.2
1896.
2,
750
5 2 . 9
1897.
2,
755
53.0
1898.
2t
745
52.9
1899.
2,
776
53,4
1900.
2,
766
53.2
55
1901.
2 , 7 7 1
53^3
55
53.3
56
53.3
56
1902.
2,
2 , 7 6 9
1904.
2,
740
52.7
56
1905.
2,
749
5 2 . 9
56
1906.
2,
/49
52.9
56
1907.
2 , 7 4 7
52.9
57
2 , 6 9 6
1909.
2,
704
18.2
5 0 . 0
85.7
20.0
62.0
52.7
1903.
1908.
84.3
5 3 . 9
770
57
51.9
2 , 7 0 4
52.0
51.0
I
o
1860.
1869.
o
57
1910.
1911.
2 , 705
2,715
2,722
2 , 704
2,700
2,696
2,692
2,687
2 ,683
2,67d
2,669
46.3
57.4
57.6
57.4
57.3
57.3
56.8
56.6
56.6
57.7
56.4
2,665
2,661
2,611
2,551
2,654
2,642
52. 1
52.3
52.4
52. 1
51. 7
51. 1
51.4
51.5
51.0
49.4
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
2 , 584
2,461
2,508
2.544
2.527
2 , 549
2,563
2 , 547
2.545
2.528
2,630
2,619
2,607
2,596
2,585
2 , 573
2,562
2,551
2,540
2,529
49. 8
47.4
48.3
49.0
48.7
49. 1
49.3
49.0
49.0
48.7
47.4
43. 1
44.2
45.6
43.7
44.5
45.0
45.0
44.4
44.2
55.6
55.9
55.7
55.8
55.5
55.4
55.3
55.2
55.2
55. 1
84.6
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1936.
1939.
2,477
2,435
2 , 352
2 , 336
2 , 167
2,518
2,507
2,496
2,486
2,460
2,429
2,394
2,366
2,338
2,312
47.7
46.9
45.3
45.0
4 1. 7
42.6
43. 7
44.5
43. 1
42,
40.
38,
38,
34,
36.6
39.2
38.6
35.6
37.7
55.0
55.2
55.4
55.6
55.7
55.6
55. /
55.9
56.0
56.0
82.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
2,278
2,296
2,342
2,410
2,424
2 , 331
2,232
2 , 199
2 , 176
2 , 153
2,286
2,191
2,175
2 , 163
2 , 150
42.5
42.0
41.6
48.5
47.8
46.1
44.3
43.5
42.8
42. 1
38. 1
40.6
43. 1
45.0
45.2
43.5
40.3
40.4
40.0
39. 1
56.0
56.7
58.8
62.3
63.1
61.9
57.2
57.4
57.9
58.0
82.
2,222
2,206
43.9
44.4
45. 5
46.6
47.0
45. 7
41.7
42.2
42.4
41.9
40.9
41.6
41.5
41.0
40.6
40.5
40.5
40.6
40.7
40.5
39.6
40.7
40.4
39.8
39.2
40.3
58.4
58.9
58.8
58.5
58.4
58.7
59.3
58.7
58.5
58.3
84.5
84.9
84.7
84.4
83.9
83.6
83.7
82.7
40.5
40.5
40.5
40.4
40.0
40.5
39.7
39.8
40.4
40.5
40.7
41.2
58.3
58.0
57.4
57.3
57.4
57.5
81.2
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
2,688
2,654
2,668
2,210
2,269
2,310
2,238
2,272
^2
3
4
1
19501951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1
4
52
2
2
5
3
1960.
1961.
1962.
1963.
1964.
1965.
3
4
3
3
2
2
1
2 , 131
2,117
2 , 113
2,096
2,270
2,254
2,238
2,138
2,126
2,115
2,104
2,095
2,086
2,078
2,069
2,060
4 3 . 8
43.5
41.2
41.0
41.0
4C.6
83.
85.
87.
88.
86.
82.5
84.5
84.7
84.5
82. 1
81.7
80.3
79.3
78.8
78.6
78.3
^ 9 0 0 to 1939 data are copyrighted; they may not be reproduced without written permission from the publishers. See appendix 2.
^Decade average, 1869-78.
GO
^Decade average, 1879-88.
^Data for 1947, 1949, and 1951-54 are for April; 1950 for March; remaining years are annual averages.
®Data before 1955 have not been adjusted to reflect changes in definitions of employment and unemployment adopted in January 1957.
22.7
.6
51 . 5
40.1
2 .9
28 . 5
44.0
35.8
36.5
35.9
31.1
31.0
31.9
32.4
64.8
69.2
64.2
53.5
54.3
54.5
53.7
33.1
33.8
33.9
33.6
33.7
34.8
35.9
35.9
36.0
36. 1
53.4
53.9
52.1
50.9
49.3
49.5
51.4
49. 7
47.4
47.2
36.7
36.9
36.7
3 7.0
37.4
38.0
46.5
44.6
43.6
43.5
43.6
44.5
.0
Series B69 to B79
o
Labor force participation rates: Lebergott-SSRC (Durand)-BLS (Percent)
Female rates by age
Male rates by age
Year
B14. 20 to 24
years
B15. 25 to 44
years
B16. 25 to 34
jyears
B17. 35 to 44
years
B18. 45 to 64
years
B19. 45 to 54
years
B20. 55 to 64
years
B21. 65 years
and over
B22. 14 to 19
years
B23. 20 to 24
years
B24. 25 to 44
years
O
o
1890.
Q0.9
96.0
92.0
68,3
24.5
30.2
15.1
1900.
90.6
94.7
90.3
63.1
26.8
31.7
17.5
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
89.9
95.6
90.7
55.6
28.
37.5
21.7
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
88.8
95.8
91.0
54.0
22.8
41.8
24.6
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
95.2
96.7
90.4
44.2
23.1
49.1
32.1
94.3
97.1
94.3
97.4
97.6
96.2
94.3
94.0
93.5
93.0
92.0
41.4
41.7
39.7
32.1
31.6
32.5
32.5
52.3
54.7
53.9
46.2
44.9
45.3
45.0
39.6
39.5
39.1
34.3
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
84.9
85.7
87.8
95.8
96. 1
95.9
98.0
98. 0
98.0
95.5
95.8
95.6
89.6
89.5
87.5
49.5
50.9
50.8
47.4
47.8
46.8
46.9
89.1
91.1
92.1
92.2
91.5
90.8
90.8
89.8
89.5
90. 1
96.2
97.1
97.7
97.6
97.5
97.7
97.4
97.3
97.3
97.5
97.6
97.6
97.9
98.2
98. 1
98. 1
98.0
97.9
98.0
97.8
95.8
96.0
96.2
96.6
96.5
96.5
96.6
96.4
96.3
96.0
86.9
87.2
87.5
87.9
88.7
87.9
88.5
87.5
87.8
87.4
45.8
44.9
42.6
41.6
40.5
39.6
40.0
37.5
35.6
34.2
31.5
32.1
31.5
30.5
29.8
29.9
31.9
30.6
29.1
29.3
46. 1
46.6
44.8
44.5
45.3
46.0
46.4
46.0
46.4
45.2
90.2
89.8
89.1
88.3
97.7
97.6
97.4
97.3
97.5
97.4
97.7
97.7
97.7
97.6
97.4
97.4
95.8
95.6
95.6
95.8
95.8
95.6
86.8
87.3
86.2
86.2
33.1
31.7
30.3
28.4
85.6
84.7
27.9
30.2
29.9
29.0
28.4
28.3
29.2
46.2
47.1
47.4
47.6
49.5
50.0
81.0
88.2
88.0
28.0
Series B25to B35
Labor force particioation rates: Lebergott-SSRCfDurand^-BLS(Percent)
Female rates by age
Year
B25. 25 to 34
years
B26. 35 to 44
years
B27. 45 to 64
years
B28. 45 to 54
years
B29. 55 to 64
years
B31. Utilization
of industrial
capacity: Wharton School
B32. Manufacturing output as
percent of capacity: FR
B33. Actual operating rate in
manufacturing:
McGraw-Hill
B34. Rate of
capacity utilization: Brookings,
Hickman^
(Percent)
(Percent)
(Percent)
(Percent)
B30. 65 years
and over
1890.
12.1
7.6
1900-
13.6
8.3
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
16.5
7.3
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
18.0
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
21.7
7.
29.2
31.2
31.3
27.9
9.8
9.6
9.3
8.3
32.0
33.2
33.5
36.3
36.9
38.1
32. 7
35.0
35.9
24.3
24.3
25.3
8.1
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
34.0
35.4
35.5
34.1
34.5
34.9
35.4
35.6
35.6
35.4
39.1
39.8
40.5
41.3
41.3
41.6
43.1
43.3
43.4
43.4
38.0
39. 7
4C. 1
40.4
41.2
43. 8
45.5
46.5
47.9
49.0
27.0
27.6
28.7
29.1
30.1
32.5
34.9
34.5
35.2
36.6
9.7
8.9
9.1
10.0
9.3
10.6
10.9
10.5
10.3
10.2
89.2
91.3
90.2
93. 1
84.9
91.5
91.8
89.2
1960.
1961.
1962.
1963.
1964.
1965.
36.0
36.4
36.4
37.2
37.3
38.6
43.5
43.8
44.1
44.9
45.0
46.1
49.8
50. 1
50.0
50.6
51.4
50.9
37.2
37.9
38.7
39.7
40.2
41.1
10.8
10.7
9.9
9.6
10.1
10.0
B35. Manufacturing production per real net
value of equipment: J EC
(Index:
1957-59=100)
91
97
7.
80
68
55
70
80
93
111
116
90
111
9.1
9.6
^This is a copyrighted series; it may not be reproduced without written permission from the publisher. See appendix 2.
122
116
96.9
93.2
82.2
86
78
11
88
11
14
12
11
91
90
93
83
90
84
92
88
86
09
11
80. 1
86.6
85
76
84
78
08
80
03
03
85.2
82.4
84.9
85.7
87.8
91.7
82
86
86
88
83
91
85
77
83
83
85
88
90
08
06
05
05
114
108
98
107
109
107
110
100
110
106
lOL
93
105
10 7
107
114
118
VD
09
Series B36 to B46
Year
00
B36. School enrollment as percent of
population, age 517: Office of Education
(Percent)^
B37. Higher education enrollment
as percent of
population, age
18-21: Office of
Education
B38. Average
length of public
school term:
Office of Education
(Percent)^
(School days)^
B39. Average
number of days
attended per
pupil: Office of
Education
(School days)^
B40. Median
years of education completed,
age 25 and over:
Census, FolgerNam
(Years)
B41. Total expenditure in the
education system: Office of
Education
(Millions of
dollars)!
B42. Expenditure per student
enrolled in higher education:
Office of Education - HEW
(Dollars)^
Median income by education completed - males,
B43. Expendiage 25 years and over: Census (Dollars)
ture per pupil
B46. 4 years or
enrolled in pub- B44. 8 years ele- B45. 4 years
mentary school high school
more higher
lic schools:
education
Office of Education
(Dollars)^
1860.
1861,
1862.
1863.
1864.
186i>.
1866.
1867.
1868.
1869.
132.2
132.1
133.4
129.1
128.8
130.4
133.1
132.1
132.0
130.2
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
2.7
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
75.2
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
78, 1
77.3
76.3
76.6
78.0
77.6
78.4
78.8
79.2
78.2
3.0
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
78.7
78.0
76.9
76.0
76.3
76.0
76.4
75.0
75.6
78.3
4.
130.3
130.1
131.2
129.8
129.1
130.7
130.4
131.3
132.3
133.7
78.4
79.4
79.5
76.5
77.0
77.9
79.4
8C.0
8C.9
80.5
9
9
9
10
9
10
9
9
8
81. 1
8C.0
81.3
81. 1
82.9
83.6
84. 1
84.9
85.9
86.4
134.7
135.7
136.9
136.3
139.5
139.5
140.5
142.0
143.0
143.0
86.3
144.3
143.7
144.7
147.2
146.7
150.9
150.6
151.8
154.1
155.3
99.0
98.0
100.6
101.7
86.6
88.4
89.6
91.6
93.5
94.8
96.3
98.0
97.9
102. 1
105.2
106.0
107.3
109. 8
112.6
I
o
8
9
9
9
10
10
10
10
11
11
11
12
12
12
12
13
13
13
13
14
14
15
16
17
18
18
20
22
23
1910. . . . .
1911.....
1912.....
1913.....
1914
1915
1916.
1917.....
1918
1919.....
79.9
78.9
78.7
79.5
80.6
81.3
82.6
1920
1921.....
1922
1923
1924.....
1925.....
1926
1927
1928.....
1929
83.9
1930. . . . .
1931.....
1932. . . . .
1933
1934
1935.....
1936
1937.....
1938
1939.....
1940.....
1941.....
1942
1943.....
1944
1945.....
1946
1947
1948
1949.....
1950
1951.....
1952
1953. . . . .
1954
1955.....
1956
1957
1958
1959
1960
1961.....
1962.....
1963
1964.....
1965
...
...
...
...
...
...
...
...
...
...
...
...
...
81.3
86.7
88.7
90.4
90.0
89.7
90.7
90.0
91.7
93. 1
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
5.1
8.1
12.4
113.0
111.8
115.6
115.6
117.8
121.2
120.9
160.7
119.8
161.9
121.2
164.0
130.6
168.3
132.5
169.3
135.9
171.5
140.4
172.7
143.0
171.2
144.9
171.6
145. 8
173.0
146. 3
173.9
149.3
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
94. I
15.6
175.0
151. 7
93.2
14.5
174.7
149.6
89.0
11.9
175.5
147.9
90.3
17.6
22.1
25.2
26.3
176.8
15C.6
177.6
155. 1
27.2
25.5
24.0
25.0
26.4
29.0
31.2
33.5
34.3
36.0
...
...
...
...
...
...
...
...
...
...
...
177.9
157. 9
178.2
156.0
178.6
158.9
178.0
158. 5
177.6
157.4
...
...
...
...
...
...
...
...
...
...
...
...
89.5
92.6
96.8
96.1
96.2
96.5
95.1
97.9
97.1
36.6
37.5
37.7
38.9
40.4
43.9
^Data are shown for / e a r in which the school year ends.
157.5
156.8
158.0
158.1
158.7
159.4
160.3
178.0
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
8. 1
8.2
8.4
8.6
...
...
...
...
...
...
...
...
9.3
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
3,234
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
446
24
25
27
28
29
31
31
••
37
48
••
68
• •
75
••
82
• •
87
••
574
90
• •
550
83
•«
2,295
473
65
••
2,650
488
75
• •
3,014
507
86
• •
2,966
3,200
507
92
• •
561
95
3,522
868
105
•••
4 , 168
692
125
•••
6,574
936
180
•••
3,204
8,796
1,089
232
•••
11,312
1,367
276
•••
13,950
1,530
315
•••
16,812
1,576
352
•«•
...
1,780
405
•••
...
...
2 1 , 120
160.2
10.5
24,722
1,966
433
•••
179. 1
162.3
11.4
29,366
2 , 195
480
•••
...
163.2
11.7
11.8
35,900
39,000
2,447
2,444
523
547
...
179.0
^Average for 1939 includes males with 7 years of elementary school completed.
1,061
1,432
2,017
2,533
3,285
4,407
3,508
4,474
4,992
5,541
6, 866
3,868
•••
5,552
•••
7,697
• • •
4,076
3,983
6,266
5,999
7,664
7,987
8,805
VO
oo
OD
Series B47 to B57
Year
B47. Public expenditure for medical
research: Social
Security Administration
B48. Work-loss
days per currently employed person: PHS
(Millions of
dollars)
(Work days
per year)
B49. Patients in 850. Average
hospitals for
life expectancy
psychiatric
at birth: PHS
care: PHS
(No. per 100,000
population)
(Years)
Total expenditures for
B51. Applicascientific research and development
tions for patents:
B54. NSF
B53. DOD
B52. NSF
Patent Office
(Number)
i860.
1869.
7,653
4,643
5,038
6,014
6,932
10,664
15,269
21,276
20,420
19,271
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
19,171
19,472
18,246
20,414
21,602
21,638
21,425
20,308
20,260
20,059
1880.
1889.
22,395
25,556
31,218
34,311
35,422
35,559
35,806
3 5,461
35,684
40,464
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
40,930
40,443
30,644
38,353
38,344
40,608
43,905
47,811
35,758
41 , 3 3 7
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
185
206.8
47
49
51
50
47
48
48
47
51
52
3
1
5
5
6
7
7
6
1
1
41,898
46,334
49,490
50,059
51,986
54,815
56,277
58,575
61,273
65,642
(Thousands
of dollars)
(Millions of
dollars)
(Millions of
dollars)
Sources of funds for scientific research
and development (Millions of dollars)
B55. Government: B56. Federal
B57. Industry:
DOD
Government:
DOD
NSF
I
O
...
...
...
...
...
19i0
1911
1912
1913.
1914.....
1915
1916
1917
1918
1919
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
1920
1921
1922
1923
1924
1925.....
1926. . . . .
1927.....
1928.....
1929
243.0
•
1930. . . . .
1931.....
1932
1933.....
1934
1935
1936
1937
1938.....
1939
1940
1941.....
1942
1943
1944.....
1945.....
1946.....
1947
1948.....
1949
1950
1951
1952
1953
1954.....
1955.....
1956
1957
1958
1959
1960
1961
1962.....
1963
1964.....
1965. . . . .
.
•
. ..
..
.. ..
.
•
72 9
..
.
«
•
138 9
•
..
..
292
471
603
819
964
1, 101
1,235
2
2
9
1
0
7
2
6.7
5. 1
5.6
5.4
5.8
6.2
5.5
5.7
6 8 , 9 0 4
7 0 , 8 1 8
70,177
7 0 , 2 2 8
7 0 , 7 5 9
70,
135
5 9 , 5 8 1
8 0 , 3 3 7
8 6 . 5 7 5
9 3 , 0 6 3
8 8 , 7 2 5
8 0 , 3 3 3
8 0 , 6 2 2
8 4 , 2 9 0
8 5 , 7 0 8
9 1 , 6 9 2
9 2 , 3 6 4
9 4 , 2 7 2
9 3 , 7 5 2
6 9 , 4 8 4
383.2
394.2
402.2
409.0
383.7
381.0
383.7
383.9
62.9
64.8
66.2
63.3
65.2
65.9
66. 7
66. 8
67.2
68.0
384.9
387.5
389.0
390.8
391.3
388.7
3 77.9
368.6
360.8
352.7
68.2
68.4
68.6
68. 8
69. 6
69. 5
69.6
69.3
69.4
69.9
343.2
332.5
321 . 8
310.6
298.7
69. 7
70.2
70.0
69.9
70.2
363.7
17 0
54.1
60.8
59.6
57.2
59.7
59.0
56. 7
60.4
56. 8
57. 1
64tAA8
59.7
61.1
62. 1
63.3
61. 1
61.7
58.5
60.0
63.5
63. 7
330.9
3 1
50.0
52.6
53.5
52.5
54.2
54.5
51.7
50.9
39. 1
54.7
...
...
8 3 , 9 6 7
7 1 , 3 9 7
60,
61
166,191
• • •
191,070
185
,070
171,836
6 3 , 9 1 7
69,
143
218,122
7 2 . 5 7 6
7 5 , 0 0 6
7 1 , 3 0 6
2 6 3 , 7 2 2
• • •
3 4 5 , 2 4 5
510
5 9 , 6 0 9
900
370
4 9 , 8 2 7
1,070
490
560
4 8 , 5 2 0
1,210
780
410
5 9 , 2 9 5
1,380
940
420
75,964
1,520
1,070
430
9 1 , 8 2 6
1,780
910
840
8 3 , 1 7 9
2 , 2 6 0
1,160
1,050
1,150
7 5 , 8 4 7
2 , 6 1 0
1,
7 4 , 6 6 0
2 , 6 1 0
1,550
7 4 , 1 0 8
2 , 8 7 0
1,610
6 4 , 7 8 8
3 , 3 6 0
1,980
1,300
6 9 , 6 3 1
3 , 7 5 0
2 , 2 4 0
1,430
7 7 . 8 3 3
4 , 0 0 0
5,160
390
2 , 4 9 0
990
1,180
2 , 7 6 0
8 2 , 7 4 5
5,660
3,
120
8 3 , 0 7 0
6,200
3 , 5 0 0
7 9 . 8 3 4
8 , 3 7 0
4 , 8 2 0
79,012
9 , 8 1 0
6,
8 2 , 5 5 2
10,810
6 , 8 4 0
8 3 , 5 8 7
12,430
8 , 0 7 0
8 4 , 2 4 6
13,620
8 , 7 7 0
8 7 , 9 2 1
14,380
9 , 2 2 0
1 0 , 0 4 5
105
9 0 , 0 7 7
15,610
9 0 , 8 3 7
17,350
11,340
9 2 , 9 7 6
18,780
12,435
1,430
K>
O
O
Series B47 to B57
Year
Sources of funds for scientific research and
development (Millions of dollars)
B58. Industry:
B59. Universities: B60. Colleges B61. Other nonand universities: profit instituNSF
DOD
tions: NSpi
NSF
Implicit price deflator
for GNP
B63. QBE
B62. NBER,
Kendrick
(Index:
1929 = 100)
(Index:
1958=100)
Implicit price deflator
Implicit price deflator for
B64. Implicit
for fixed investment
price deflator for personal consumption expenditures
B67. NBER,
B68. OBE
B66. OBE
gross private do- B65. NBER,
Kendrick
mestic product: Kendrick
OBE
(Index:
(Index:
(Index:
(Index:
(Index:
1929=100)
1958=100)
1958=100)
1929=100)
1958=100)
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867,
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
26
269.
253.
35
^56.
34
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
53.8
45.2
42.9
41.8
41.4
40.0
39.2
38.5
38.6
40. 1
44.1
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
50. I
49.4
47.6
48.5
45.5
44.8
43.7
43.9
45.2
46.7
53.0
52.3
50.4
51.6
47.9
46.9
45.5
45.6
46.8
47.3
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
48.9
48.5
50.1
50.7
51.3
52.5
53.8
56.0
55.6
57.5
49.9
49.6
51.5
51.8
52.8
53.7
54.3
56.8
57. 1
58.7
44.7
45.7
44.7
45.9
46.4
46.6
48.3
51.6
53.6
51.7
53.1
S2
o
I
o
1910-
59
60
191K
58
59
55
1912.
62
62
55
1914-
61
61
62
63
56
1915.
64
65
58
1916.
72
73
65
1913,
54
57
1917.
89
91
81
1918.
103
105
103
1919.
106
106
105
1920.
121
118
119
1921.
103
103
102
92
1922.
97
98
1923.
100
100
99
1924.
99
99
98
1925.
1926.
100
101
101
102
97
96
1927.
98
99
1928.
99
1929.
100
100
100
5 0 . 6
5 1 . 7
97
5 5 . 3
97
100
39.4
1930.
4 9 . 3
5 0 . 5
5 3 . 6
37.9
1931.
4 4 . 8
4 5 . 7
4 7 . 9
35.2
1932.
4 0 . 2
4 1 . 0
4 2 . 3
3 1 . 6
1933.
3 9 . 3
40.
1
4 0 . 6
30.6
1934.
4 2 . 2
43.
1
4 3 . 5
33.7
1935.
4 2 . 6
4 3 . 6
4 4 . 4
34.3
1936.
4 2 . 7
4 3 . 5
4 4 . 7
34.6
1937.
4 4 . 5
4 5 . 3
4 6 . 5
3 7 . 8
1938.
4 3 . 9
4 4 . 7
4 5 . 6
38.2
1939.
4 3 . 2
4 4 . 0
45.
37.7
1940.
1
4 3 . 9
4 4 . 7
4 5 . 5
39.0
4 7 . 2
4 8 . 7
4 8 . 7
4 2 . 0
5 3 . 0
5 5 . 5
54.8
46.5
5 6 . 7
6 0 . 9
59.9
5 8 . 2
62. 1
4 9 . 3
1945.
20
20
20
20
20
1946.
30
1947.
50
1948.
1949.
1941.
1942.
1943.
1944.
6 3 . 2
51.1
65.4
51.5
6 6 . 7
62.6
68.2
70.5
58.5
7 4 . 6
7 6 . 3
7 7 . 9
6 6 . 7
70
7 9 . 6
8 1 . 4
8 2 . 3
73.9
70
7 9 . 1
80.6
8 1 . 7
74.7
77.5
5 9 . 7
1950.
80
80.2
8 1 . 4
8 2 . 9
1951.
80
8 5 . 6
8 7 . 3
88.6
8 3 . 1
1952.
80
8 7 . 5
8 8 . 9
9 0 . 5
85.3
80
86.6
1953.
2 t 2 4 0
1954.
2f
1955.
2 , 5 1 0
1956.
3 , 3 3 0
1957.
3 , 4 5 5
180
70
9 7 . 5
9 7 . 9
9 7 . 7
1958.
3 , 7 0 0
190
80
100.0
100.0
1959.
4 , 0 7 0
190
100
100.0
101.6
101.4
101.3
100.0
102.6
103.4
365
120
40
8 8 . 3
8 9 . 6
9 1 . 7
130
45
8 9 . 6
9 0 . 7
9 2 . 5
140
50
9 0 . 9
9 1 . 5
9 2 . 8
89.0
155
65
9 4 . 0
9 4 . 5
9 4 . 8
94.0
86.8
98.5
1960.
4 , 5 4 0
200
110
103.3
102.8
102.9
1961.
4 , 8 1 0
210
140
104.6
103.7
103.9
103.9
1962.
5 , 1 7 5
230
160
105.8
104.8
104.9
104.9
1963.
5 , 5 6 5
260
185
5 , 8 4 0
...
360
...
106.0
1964.
1965.
i n c l u d e s funds provided by state and local governments.
145
^Decade average, 1869-78.
107.2
105.8
1 0 6 . 1
108.9
107.2
107.4
107.8
110.9
1 0 8 . 9
108.9
109.6
^Decade average, 1879-88.
r>o
o
hO
Series B69 to B79
o
B69. Wholesale
prices, all commodities: BLS
B70. Cost of
living: NBER
Rees
Year
(Index:
1957-59=100)
(Index:
1914=100)
B71. Consumer B72. Total com- B73. U.S. Govern- B74. American
pensation per
prices, all
ment bond yields: Railroad bond
hour at work,
Treasury Dept. yields: NBER,
items: BLS
manufacturing
\1acaulay
production workers: NBER, Rees
(Index:
1957-59=100) (1957 dollars)
(Percent)
(Percent)
6.04
6.33
5.51
4.76
4.83
1867
1868
1869.....
33.7
34.8
40.4
31.5
74.7
71.3
66.7
61.8
59.9
56.9
1870
1871
1872
1873
1874
1875
1876. . . . .
1877
1878. . . . .
1879
50.4
48.2
51.3
49.3
46.7
44.2
40.7
39.6
33.8
33.2
6.41
6.34
6.19
1880
1881. . . . .
1882
1883
1884.....
1885
37. 1
37.7
39.3
36.4
33.8
31.2
30.0
31.2
31.8
30.4
I860
1861
1862
1863
1864.....
1865
1887.....
1888
1889.....
1891
1892
1893
1894.....
1896.....
1897
1898.....
1900.....
1901
1902. . . . .
1905
1906
1907
1908
1909.....
B75. Basic yield
of 30-year corporate bonds:
NBER(Durand)Homer
(Percent)
B76. New Eng- B77. Municipal
land municipal
bond yields:
Bond Buyer^
bond yields:
NBER, Macaulay
(Percent)
(Percent)
B78. Manhattan
Island real estate mortgage
rates: Wenzlick
Research Corp.
(Percent)
4.79
5.04
4.92
4.37
4.83
5.54
5.52
5.34
5.29
5.38
6.02
6.37
6.33
6.26
6.52
5.90
5.46
5 . 17
5 . 18
5 . 10
4.76
5.44
5.33
5.37
5.55
5.49
5.07
4.59
4.45
4.34
4.22
5.92
.458
4.47
4 . 14
4.20
4.22
4.17
3.97
3.70
3.76
3.69
3.54
4.02
3.72
3.63
3.63
3.63
3.53
3.39
3.53
3.67
3.46
5.78
5.80
5.65
5.43
5.35
5.20
5.10
5 . 14
5.20
5.13
3.42
3.64
3.61
3.74
3.69
3.46
3.61
3.39
3.35
3.11
5.45
5.38
5.20
5.20
5 . 16
5.04
5.12
5.04
4.96
5.05
3.15
3.12
3.22
3.38
3.45
3.44
3.62
3.90
4.03
3.86
17
11
09
18
35
50
5.68
5.45
5.60
5.35
6.21
30.7
30.6
28.5
29.2
26.2
26.7
25.4
25.5
26.5
28.5
91
91
91
90
86
84
84
83
83
83
,448
.448
.452
.475
.459
, 463
.487
.475
.46 8
. 495
3.67
3.83
3.72
3.82
3.60
3.47
3.52
3.32
3.26
3.13
30.7
30.2
32.3
32.6
32.7
32.9
33.9
35.7
34.4
37.0
84
85
86
88
89
88
90
94
92
91
.502
.518
.536
.541
.533
.544
.571
.570
.563
.571
3.18
3 . 18
3.26
3.49
3.51
3.46
3.55
3.78
3.75
3.66
30
25
30
45
60
50
55
80
95
77
40
48
53
67
87
76
B79. Secondary market
yields on FHA
mortgages:
FHA
(Percent)
I
o
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
38.6
35.5
37.8
38.2
37.3
38.0
46.8
64.3
71.7
75.8
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
95
95
97
99
100
5.35
5.47
5.46
5.50
5.58
5.60
5.50
5.47
5.55
5.65
4.
.822
. 846
. 856
.875
5.32
5.09
4.30
4.36
4.06
3.86
3.68
3.34
3.33
3.60
5 . 10
5.17
4.71
4.61
4.66
4.50
4.40
4.30
4.05
4.42
4.98
5.02
4.20
4.23
4.19
4.10
4.10
3.98
3.98
4.28
5.75
5.97
5.95
5.91
5.92
5.90
5.89
5.88
5.85
5.92
58.2
53.0
47.6
45.1
46.6
47.8
48.3
50.0
49.1
48.4
.892
.935
.918
.959
1.110
1.110
1 .120
1.240
1.270
1.290
3.29
3.34
3.68
3.31
3.12
2.79
2.65
2.68
2.56
2.36
4.40
4.10
4.70
4.15
3.99
3.50
3.20
3.08
3.00
2.75
4.08
3.87
4.33
4.29
3.73
3.00
2.63
2.67
2.58
2.43
5.95
5 . 75
5.77
5.60
5.45
5.26
5.09
5.11
5.00
5.05
43.0
47.8
54.0
56.5
56.9
57.9
66. 1
81.2
87.9
83.5
48.8
51.3
56.8
60.3
61.3
62.7
68.0
77.8
83.8
83.0
1 .350
1.410
1 .490
1.580
1 .680
1.660
1.630
1 .640
1 .650
1.720
2.21
1.95
2.46
2.47
2.48
2.37
2.19
2.25
2.44
2.31
2.70
2.65
2.65
2.65
2.60
2.55
2.43
2.50
2.80
2.74
2.20
5.03
4.90
4.98
4.77
4.71
4.70
4.74
4.80
4.91
4.93
34
1950
1951
1952.....
1953.....
1954.....
1955
1956.....
1957
1958.....
1959
86.8
96.7
94.0
92.7
92.9
93.2
96.2
99.0
100.4
100.6
83.8
90.5
92.5
93.2
93.6
93.3
94.7
98.0
100.7
101.5
1 .810
1 .860
1 .940
2.040
2 .060
2.150
2.220
2.280
2.320
2.370
2.32
2.57
2.68
2.94
2.55
2.84
3.08
3.47
3.43
4.08
2.58
2.67
3.00
3.15
3.00
3.04
3.09
3.68
3.61
4.10
1.75
1.77
1.99
2.54
2.25
2.33
3 . 16
3.04
3.42
4.95
4.93
5.03
5.09
5.15
5 . 18
5.19
5.42
5.58
5.71
15
23
30
65
60
65
80
44
49
68
1960
1961
1962. . . . .
1963
1964
1965
100.7
100.3
100.6
100.3
100.5
102.5
103.1
104.2
105.4
106.7
108.1
109.9
2.400
2 .440
2.510
2.550
4.02
3.90
3.95
4.00
4.15
4.21
4.55
4.22
4.42
4.16
4.33
4.35
3.40
3.34
3.10
3.10
3.15
3.19
5.85
5.87
5.91
5.91
5.90
5.88
16
76
60
46
45
47
34.5
35.0
35.4
38.0
44.7
52.4
60.3
84.5
53.4
52.9
55. 1
53.6
56.6
54.8
52.3
53.0
52.1
69.8
62.3
58.4
59.4
59.6
, 776
.767
.757
.82 3
. 849
60.5
59.7
59.7
1930.....
1931.
1932
1933
1934.....
1935
1936
1937.....
1938
1939
47.3
39.9
35.6
36.1
41.0
43.8
44.2
47.2
43.0
42.2
1940. . . . .
1941
1942.....
1943
1944
1945.....
1946
1947.....
1948
1949.....
61.1
61.6
.822
...
...
81
84
88
06
05
^ T h i s i s a copyrighted series; i t may not be reproduced without written permission from the publisher. See appendix 2.
O
C
O
3.91
3.98
4.01
4.45
4.16
4.28
4.05
4.24
4.57
4.48
3.80
3.90
3.90
4.00
4.10
4.15
4.05
4.05
4.75
4.75
.586
.594
.597
,626
.616
.626
.675
.693
.779
.774
00
01
07
40
1.79
1.89
1.59
1.34
1.21
1.23
1.65
2.14
1.92
2.62
hO
o
Series B80to B90
B80. Commercial
paper rates: FR
B81. Stock Exchange call loan
rates: NBER,
(Macaulay)-FR
Year
(Percent)
(Percent)
I860
1861
1862. . . . .
1863
1664.....
1865
1866. . . . .
1867.....
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878. . . . .
1879
1880.....
1881.....
1882.....
1883.....
1884.....
1885. . . . .
1886.....
1887.....
1888
1889
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
•
•
.
5.72
5.56
8.38
14.24
3.43
3.11
3.35
3.87
4.22
5.44
4.86
5.76
4.78
3.71
3.03
1.66
4.03
5.01
2.51
4.48
6.91
6.48
5.40
7.64
5.22
5.80
7.02
4.72
5.34
5.50
5.84
3.42
3.08
4.57
1.07
1.88
4.28
1.75
2.18
5.08
1900
1901.....
1902. . . . .
5.71
5.40
5.81
6 . 16
5.14
5 . 18
6.25
6.66
5.00
4.67
2.94
4.00
5.15
3.71
1.78
4.44
6.54
7.01
1.92
2.71
....
... ..*
.. ..
......
.. ..
..
... ...
.. ..
.. ..
.. ..
... ...
... ...
... ..•
..
.. ..
.. ..
3
3
3
3
3
3
4
4
5
4
97
25
30
45
60
50
75
87
10
03
Corporate profits: QBE
(Millions of dollars)
B86. Before
B87. After
taxes
taxes
B88. Internal
sources of corporate funds:
QBE
4.69
5.03
4.80
4.57
4.45
4.06
3.14
3.38
4.12
5.21
6.25
5.90
5.63
4.74
4.60
5.36
5.53
5.20
5.32
5.27
5.03
5.55
4.78
4.39
4.53
4.23
4.45
5.05
6.29
6.15
7.84
8.42
7.21
7.05
8.99
9.64
7.84
78
71
Corporate security issues for
new capital (Millions of dollars)
B89. FR
B90. SEC
o
I
(Billions of
dollars)
(Percent)
(Percent)
5.99
5.76
5.23
6.19
6.59
6.17
5.23
6.26
7.54
10.29
1890
1891
1892
1893
1894
1895.....
1896
1897
1898
1899
1904
1905
1906
1907.....
1908
1909
Index of common stock prices
B83. U.S. TreasB82. Basic
(1941-43=10)
yields of 1-yr. ury bill rates: FR
corporate bondsB84. Cowles
B85. Standard
NBER(Durand)Commission
and Poors
Homer
Corp.
o
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
6.02
5.37
7.50
6.62
4.52
5.07
3.98
4.02
4.34
4.11
4.85
5.85
3.43
5.28
6.32
4.25
4.09
4.04
4.74
4.64
4.47
3.48
4.05
5.48
5.58
7.74
5.97
4.29
4.86
3.08
4.18
4.50
4.06
6.04
7.61
6 . 11
6.94
5.31
5.01
5.02
3.85
4.40
4.30
4.05
5.27
5.42
4.83
3.47
3.93
2.77
3.03
3.23
3.10
3.97
4.42
4.40
3.05
3.99
2.23
1.40
2.98
2.57
3.52
3.22
3.43
1.92
2.62
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
3.59
2.64
2.73
1.73
2.94
1.74
2.05
1.16
1.00
2.60
2.62
.76
.75
.94
.56
.91
1.05
.59
1.00
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
.56
. 54
1.00
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
N
(O
o
5.72
4.75
5.41
6,20
5.47
4.01
3.84
5.07
1.02
.81
1.00
1.00
1.00
1.00
1.00
1.00
1.00
.61
.69
.85
.57
.41
.41
9.35
9.24
9.53
8.51
8.08
8.31
9.47
8.50
7.54
8.78
.88
.52
.26
.14
.14
.45
.05
.02
.01
.10
8.41
8.57
9.05
11.15
12.59
15.34
19.95
26.02
9,990
8,621
6.7
2,563
1,702
2,215
2,635
3,029
3,605
3,754
4,657
5,346
8,002
21.03
13.66
6.93
8.96
9.84
10.60
15.47
15.41
11.49
12.06
3,697
- 372
-2,309
956
2,346
3,598
6 , 340
6,785
3,969
7,041
2,855
- 870
-2,694
435
1,602
2,647
4,931
5,283
2,940
5,600
4.9
1.9
-.2
-.3
2.0
3.1
2.8
3.7
3.9
4.3
4,483
1,551
325
161
178
404
1 , 192
1,225
873
383
11.02
9.82
8.67
11.50
12.47
15.16
17.08
15.17
15.53
15.23
10,013
17,718
21,535
25,130
24,107
19,722
24,589
31,470
35,188
28,941
7 , 179
10,108
10,120
11,056
11,158
9,033
15,485
20,202
22,670
18,533
6.1
6.7
8.9
10.3
11.2
9.2
7.8
12.6
18.7
19.1
736
1,062
42,634
43,930
38,922
40,627
38,281
48,607
48,825
47,177
41,372
52,141
24,864
21,595
19,556
20,361
20,553
26,991
27,157
25,975
22,327
28,462
17.9
19.9
21.2
21.1
23.3
29.2
28.9
30.6
29.5
35.0
4,990
7,120
8,716
8,495
7,490
8,821
10,384
12,447
10,823
9,392
49,712
50,349
55,408
59,401
67,026
75,676
26,680
27,245
31,229
33,077
38,667
44,493
34.4
35.6
41.8
44.3
49.9
55.3
9,653
12,017
9,747
10,553
13,038
14,805
7.98
6.86
1.16
.81
1.08
1.02
.86
1.03
1.44
1.49
1.38
1.55
1.63
1.60
1.60
1.45
1.63
2.17
2.48
3.06
3.05
3.20
4.03
4.50
3.72
4.22
1.42
2.05
2.73
2.70
3.50
3.21
3.67
2.66
3.27
1.84
3.40
18.40
22.34
24.50
24.73
29.69
40.49
46.62
44.38
46.24
57.38
4.99
4.50
4.50
4.50
4.50
4.69
4.95
3 . 10
3.50
3.25
4.00
4 . 15
2.93
2.38
2.78
3.16
3.55
3.95
55.85
66.27
62.38
69.87
81.37
88.17
.66
.69
.73
.75
.81
2. 16
2.33
2.52
1.58
2. 18
3.31
3.81
2.46
3.97
3.85
2.97
3.55
3.97
4.38
1.17
1.05
2.62
2.40
2.60
.33
.3 7
.38
.38
.38
.59
1.04
1.10
1.22
1.55
1.77
1.93
.95
1.75
2,246
...
...
...
...
...
152
401
1,062
1,138
904
420
761
1,041
646
408
753
1,347
3,889
5,114
6,652
5,558
ho
O
(T»
OD
SeriesB102to B112
Gross saving
(Millions of dollars)
B92. QBE
B91. Goldsmith^
Personal saving
(Millions of dollars)
B93. Goldsmith^ B94. OBE
Corporate saving
(Millions of dollars)
B95. Goldsmith^ B96. OBE
Government saving
(Millions of dollars)
B97. Goldsmith^ B98. OBE
O
Capital consumption allowances
(Millions of dollars)
B99. Goldsmith^ BIOO. OBE
Year
BlOl. Total
net public
and private
debt: OBE^
(Billions of
dollars)
I860,
186U
1862,
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1873.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
2,259
3,066
4,455
3,897
4,054
5,904
4,841
4,231
6,619
6,968
5,931
5 , 157
6,544
547
2,190
294
370
546
-38
84
1,274
1,363
2,942
1,501
1,424
3,458
3,240
2,098
1,996
3,000
672
648
724
1,067
396
678
730
773
413
418
156
209
280
198
223
177
236
257
42
269
1,288
1,325
1,446
1,635
1,795
1,834
1,958
2,075
2, 188
2,306
2,762
2,803
2,706
2,857
1910....,
1911
1912
1913
1914.....
1915
1916
1917.....
1918
1919.....
7,680
6 , 146
8,640
7,776
7,158
10,109
14,204
15,870
9,151
14,864
3,244
2,094
4,239
2,667
2,545
4,684
5,563
10,072
12,686
9,764
1 , 104
577
565
916
741
1,246
3,192
2,525
422
2,484
249
263
426
554
225
342
824
-2,671
-11,501
-5,682
3,083
3,212
3,410
3,639
3,647
3,837
4,625
5,944
7,544
8,298
1920
1921
1922.....
1923.
1924.....
1925.....
1926
1927
1928
1929. . . . .
20,054
10,743
15,826
22,493
21,172
24,869
25,745
23,720
21,320
26,464
3,437
1,338
948
354
455
369
394
1 ,368
105
136
- 36
-363
701
1,373
2,063
2,340
2,394
2,250
2,788
2,347
10,085
8,482
7,877
16,304
6 , 568
1,286
6,300
9,880
8,616
10,744
10,103
10,074
6,014
11,485
1930
1931
1932
1933.....
1934
1935.....
1936
1937
1938
1939. . . . .
15,766
5,648
-2,964
-1,665
3,257
8,036
9,762
16,219
10,924
13,856
11,750
5,079
784
911
3,231
6,572
7 , 180
11,870
6,984
8 , 820
5,617
2,466
-3,273
-3,805
- 954
2,349
5,275
7,322
3,715
6,852
1940
1941. . . . .
1942. . . . .
1943
1944
1945.....
1946.....
1947.....
1948
1949
20,468
25,155
16,819
9,832
7,801
8,533
41,141
53,890
67,837
57,952
13,623
18,631
10,669
5,533
2,529
5,235
35,132
41,963
49,929
35,900
8,543
13,971
33,237
36,167
39,299
36,409
22,527
20,186
26,723
22,457
4,162
3
2
-
2
3
3
2
637
912
389
r 140
,611
r775
719
r610
3 r844
10
27
33
37
29
15
7
13
9
3,292
- 514
-3,360
-5,032
-4,687
-2,718
-1,287
-1,405
- 553
- 574
-89
647
-2,522
-4,191
-3,746
-1,590
- 424
- 330
592
738
1,618
1,697
2,863
4,23
4,78
2,50
2,10
4,25
8,9
9,4
982
9,946
8,953
7,527
7 , 186
7,674
7,799
1,120
-359
-745
-825
-2,310
517
-1,139
-1,921
- 314
-2,885
-1,757
-1,384
-2,402
-2,017
-3,138
346
-1,764
-2,177
2,963
3,206
4,662
6,046
6,061
3,883
4,618
7,997
13,517
13,105
822
-1,359
-31,600
-44,043
-51,366
-46,227
405
7,918
6,468
-766
- 687
-3,772
-31,364
-44,123
-51,815
-39,493
5,416
14,401
8,547
-3,156
9,485
10,846
12,319
13,474
15,081
15,844
-2,186
8,202
8,933
8,922
9,014
16,106
21,532
25,672
26,788
• .
.
...
...
•• .• ..
••.
...
•••
...
••.
...
•.•
•
.
•
...
..•
82.1
94.4
117.4
128.0
7,868
135.4
135.8
140.0
146.3
153.0
162.6
168.8
177.3
185.9
190.9
7,973
7,858
7,369
6,953
6,834
6,873
7,037
7 , 157
7,291
7,267
191.0
181.9
174.6
168.5
171.4
174.7
180.3
182.0
179.6
183.2
7,503
8,220
9,796
10,250
11,024
11,263
9,889
12,219
14,490
16,550
189.9
211.6
259.0
313.6
370.8
406.3
397.4
417.4
433.6
448.4
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
50,365
56,171
49,481
47,529
48,565
64,804
72,721
71,257
59,217
73,820
13,088
17,275
1 8 , 175
18,329
16,416
15,831
20,593
20 , 7 6 6
22,298
19,080
11,085
11,900
11,955
10,402
10,953
14,777
13,184
12,694
10,506
15,417
7,850
5,801
- 3 1, 8 4 1
,875
- 7 ,, 0 3 8
,722
4,I 873
708
-12,525
-2,055
18,342
21,195
23,192
25,673
28,234
31,474
34,071
37,089
38,938
41,378
490.3
524.0
555.2
586.5
612.0
672.3
707.5
738.9
782.6
846.2
1960.
1961.
1962.
1963.
1964.
1965.
77,567
75,511
84,988
90,547
100,067
112,331
17,C42
21,178
21,590
19,942
24,487
25,685
13,435
13,423
16,298
16,155
20,894
23,845
3,682
-4,334
-2,870
1,849
-1,362
3,212
43,408
45,244
49,970
52,601
56,048
59,589
890.2
947.7
1,019.3
1,096.9
1,174.3
1,267.5
'This is a copyrighted serie?^' it may not be reproduced without written oermission from the publisher. See appendix 2.
^The state and local government component of debt is for fiscal year ending June 30.
o
717
-2,411
8,886
9,038
9,416
9,854
10,028
10,413
10,496
••.
•• •«•.
...
•.... .
-6,
2,
ho
O
00
00
Series B102 to B112
Year
B102. Net Federal, B103. Net corState, and local
porate debt:
government debt:
OBE
OBE^
(Billions of
dollars)
(Billions of
dollars)
B104. Noncorporate and individual debt:
OBE
(Billions of
dollars)
Assets of all banks
B105. Assets of
(Millions of dollars)
financial interB106. Treasury
mediaries:
B107. FR-FDIC
NBER, Goldsmith
Money supply plus time deposits
(Millions of dollars)
B i l l . NBER,
B112. FR
FriedmanSchwartz
(Millions of
dollars)
(Millions of
dollars)
1850.
Money supply
B108. Assets of
(Millions of dollars)
life insurance
companies: In- B109. NBER,
BllO. FR
stitute of Life
FriedmanInsurance
Schwartz
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1,781
2,C03
2 , 145
2,731
2,891
3,205
3,183
3,204
3,081
3,313
1,331
1,470
1,598
1880.
1881.
1882.
3,399
3,869
4,031
4,208
4,221
4,427
4,542
5 , 193
5,471
5,945
2,009
2,399
2,591
1862.
1863.
1864.
1B65.
1866.
1867.
1868.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
6.358
6,562
7,245
7 , 192
7,29
7,610
7,55
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903 •
1904.
1905.
1906.
1907.
1908.
1909.
18,969
1,285
1,252
1 , 2 74
1,612
1,626
1,693
1,666
1,640
1,564
1,690
2,806
2,766
2 , 841
3,082
3,277
3,364
3,547
77
160
8,048
8,432
9,218
10,679
11,388
13,037
14,026
14,901
15,848
17,511
18,740
2 0 , 114
19,946
21,489
3,903
4,026
4,455
4 , 195
4,228
4,467
4,275
4,491
5,142
6,022
1,742
2 , 706
I
o
1,C00
lt016
lt012
1,209
973
1.357
1.673
1.674
1,736
1,736
1661.
o
6,391
7,330
8,006
8,521
8,997
10,066
10,877
11,517
11,287
12,525
IS^ 1 0 .
1911.
1912.
3 , 8 7 6
2 4 , 0 2 6
4,
1 3 , 1 8 0
13.954
164
1 4 , 9 5 1
2 5 , 3 7 2
4 , 4 0 9
1913.
2 6 , 1 0 3
4 , 6 5 9
15,526
1 9 1 4 .
2 7 , 3 4 9
4 . 9 3 5
1 6 , 1 5 8
2 8 , 3 6 3
5,
12,27
17,322
32,697
5 , 5 3 7
14.472
2 0 , 5 3 5
40»
0
1915.
1916.
5 . 6
4 0 . 2
3 6 . 3
190
1917.
12.0
4 3 . 7
3 8 . 7
37,540
5 , 9 4 1
16,842
2 4 , 0 0 7
19
18.
2 5 . 9
4 7 . 0
4 4 . 5
4 1 , 0 9 7
6 , 4 7 5
18,738
2 6 , 3 6 7
1919.
3 0 . 8
53.3
4 3 . 9
4 7 , 6 0 3
6 , 7 9 1
2 1 , 5 6 5
3 0 , 6 4 5
3 4 , 4 7 1
1920.
2 9 . 6
57.7
48. 1
53,094
7 , 3 2 0
2 3 , 5 1 0
1921.
2 9 . 6
5 7 . 0
4 9 . 2
4 9 , 6 3 3
7 . 9 3 6
2 1 , 2 9 8
3 2 , 5 8 5
1922.
30.5
5 8 . 6
5 0 , 3 6 8
8 , 6 5 2
2 1 , 4 5 5
3 3 , 4 5 8
1923.
3 0 . 0
62.6
5 0 . 9
1924.
30.0
6 7 . 2
1925.
3 0 . 3
1926.
2 9 . 9
9 8 , 4 0 9
5 3 . 7
5 4 , 1 4 4
9 , 4 5 5
2 2 , 7 1 1
3 6 , 3 1 4
5 5 . 8
5 7 , 4 2 0
10,394
2 3 . 4 3 4
3 8 , 2 5 3
7 2 . 7
59.6
6 2 , 2 3 2
11,538
2 5 , 4 2 7
4 1 , 7 1 9
76.2
6 2 . 7
6 5 , 0 7 9
12,940
2 5 , 9 4 9
4 3 , 3 3 9
4 4 , 3 6 9
81.2
1927.
2 9 . 7
6 6 . 4
6 7 , 8 9 3
14,392
2 5 , 8 5 4
1928.
2 9 . 8
86.1
70.0
7 1 , 1 2 1
1 5 , 9 6 1
2 6 , 1 5 2
4 6 , 0 6 6
1929.
2 9 . 7
8 8 . 9
7 2 . 3
7 2 , 3 1 5
17,482
2 6 , 4 1 9
4 6 , 2 4 6
1930.
3 0 . 6
8 9 . 3
7 1 . 1
7 4 , 2 9 0
18,880
2 5 , 4 7 5
4 5 , 2 7 4
1931.
34.0
83.5
6 4 . 4
7 0 , 0
20,160
2 3 , 7 6 1
4 1 , 9 8 1
1932.
37.9
80.0
56.7
5 7 , 2 9 5
2 0 . 7 5 4
2 0 , 6 8 9
3 4 . 9 5 5
1933.
4 1 . 0
76.9
5 0 . 6
5 1 , 3 5 9
2 0 , 8 9 6
19.473
3 0 , 8 8 7
1934.
46.3
7 5 . 5
4 9 . 5
5 5 , 9 1 5
2 1 , 8 4 4
2 1 , 3 5 4
33,
1935.
50.5
74.8
4 9 . 4
5 9 , 9 5 1
2 3 , 2 1 6
2 5 , 3 6 0
3 8 , 1 4 4
1936.
5 3 . 9
7 6 . 1
5 0 . 3
6 6 , 8 5 4
24,874
2 9 , 0 0 7
4 2 , 7 2 7
1937.
55.3
75.8
50.9
6 8 , 4 0 2
2 6 , 2 4 9
3 0 , 3 8 1
4 5 , 0 0 7
1938.
5 6 . 5
73.3
4 9 . 9
6 7 , 7 3 0
2 7 . 7 5 5
2 9 , 9 3 7
4 4 , 8 1 7
1939.
5 8 . 9
7 3 . 5
50.8
73,193
2 9 , 2 4 3
3 3 . 4 3 5
4 8 , 4 9 1
1940.
6 1 . 3
7 5 . 6
5 3 . 0
7 9 , 7 2 9
3 0 , 8 0 2
3 8 , 7 2 1
5 4 , 2 2 8
1941.
72.6
83.4
5 5 . 6
8 7 , 3 2 4
3 2 , 7 3 1
4 5 , 5 8 8
6 1 , 5 4 6
1942.
1 1 7 . 5
9 1 . 6
4 9 . 9
9 1 , 9 3 0
3 4 , 9 3 1
5 4 , 5 9 6
7 0 , 3 7 2
1943.
169. 3
9 5 . 5
4 8 . 7
116,729
3 7 , 7 6 6
7 1 , 5 4 8
1944.
2 2 6 . 0
9 4 . 1
50.6
138,842
4 1 , 0 5 4
84i
1945.
2 6 6 . 4
85.3
54.7
162,169
4 4 , 7 9 7
1946.
2 4 3 . 3
93.5
60.6
171,529
48,
1947.
2 3 7 . 7
108.9
70.9
166,336
5 1 , 7 4 3
111,792
146,000
1948.
2 3 2 . 7
117,8
83.2
170,052
5 5 , 5 1 2
112,308
148,108
1949.
2 3 6 . 7
118.0
9 3 . 8
1 7 0 , 8 1 0
5 9 , 6 3 0
111,158
147,458
1950.
2 3 9 . 4
142.1
108.9
179,165
6 4 , 0 2 0
114,142
150,808
1951.
2 4 1 . 8
162.5
119.8
188,338
6 8 , 2 7 8
119,233
156,450
1952.
2 4 6 . 7
171.0
135.6
2 0 1 , 7 9 5
7 3 , 3 7 5
125,225
164,925
1953.
2 5 6 . 7
179.5
150.5
2 0 7 , 7 6 0
78,533
128,342
171,192
1954.
2 6 3 . 6
182.8
165.5
2 1 8 , 8 9 6
8 4 , 4 8 6
130,275
177,158
19 5 5 .
2 6 9 . 8
212.
190.4
2 2 9 , 6 2 6
9 0 , 4 3 2
134,442
183,692
1956.
268.
2 3 1 . 7
2 0 7 . 7
2 3 9 , 2 6 7
9 6 , 0 1 1
136,017
186,867
1957.
2 7 1 . 1
2 4 6 . 7
221.1
2 4 3 , 8 5 6
101,309
136,750
191,817
1958.
2 8 3 . 6
2 5 9 . 5
2 3 9 . 5
2 6 5 , 8 6 1
107,580
138,350
2 0 1 , 1 1 7
1959.
2 9 8 . 8
2 8 3 . 3
264. 1
2 7 3 , 3 0 9
113,650
142,842
2 0 9 , 6 6 /
1960.
3 0 1 . 0
302.8
2 8 6 . 4
2 8 2 , 8 7 2
119,576
140,875
2 0 9 , 9 5 0
1961.
313. 1
324.3
310.3
2 9 6 , 4 4 5
126,816
143,158
2 2 1 , 6 1 7
1
I
167,25
1 3 7 , 5 6
202
,46
4 0 6 , 0 8
452,
5 5 6 , 4 3
70
191
167
8 9 , 2 1 0
80
1 0 6 , 2 4 9
126,036
9 8 , 6 4 9
137,990
105i
1962.
3 2 9 . 5
348.2
3 4 1 . 6
3 2 1 , 6 2 9
1 3 3 , 2 9 1
146,225
2 3 7 , 3 5 0
1963.
3 4 0 . 5
376. 1
380.3
3 4 9 , 0 8 3
1 4 1 , 1 2 1
150,592
2 5 6 , 1 0 0
1964.
3 5 2 . 4
4 0 2 . 6
419.3
3 7 5 , 3 4 9
149,470
156,283
2 7 5 , 7 3 3
1965.
3 6 2 . 1
4 4 5 . 6
4 5 9 . 8
3 9 8 , 1 8 1
160,657
2 9 7 , 7 2 0
^State and local government component ot aeot is for fiscal year ending June 30.
r>o
o
2 2 , 9 2 2
ro
O
Series B113 to B121, C l a n d C 2
Year
Velocity of the money supply
(Ratio)
B114. PR
B113.NBER,
Friedman-Schwartz
22
o
B U S . Velocity
of the money
supply plus
time deposits:
N B E R , Friedman-Schwartz
Liquidity
balance basis:
OBE
19. Official
reserve transaction basis:
OBE
C2. New
England
Division
3>
I
O
(Ratio)
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
I860.,.,
Ifabl....
1862...,
1863...,
1864...,
1863. . . ,
1866...,
1867.
1868...,
1869...,
4.57
1870...,
1871.
1872...,
1873. . . ,
187A...,
1875...,
IB76...,
1B77....
1878...,
1879...,
4 . 12
3.91
4.34
4.35
4.23
3.99
4 . l-i*
4.48
4 . 70
4.67
161
135
118
106
115
90
100
132
180
227
1880...,
1881...,
1862...,
1883. . . ,
1884...,
1885. . . ,
1886...,
1887.
1888..*.
1889...,
4.97
4 . 10
4 . 16
3.76
3.75
3.43
3.30
3.22
3 . 10
3.06
330
440
472
^98
510
542
557
611
653
63 7
1890...,
1891....
1892...,
1893.
1894..*,
1895...,
1896...,
1897...,
1898. . . ,
1899...,
2.93
2.94
2.81
2.B7
2.55
2.71
2.67
2.81
2.55
2.48
638
615
604
560
562
531
527
604
741
869
1900.
1901. . . ,
1902...,
1903...,
1904...,
1905...,
1906....
1907...,
1908. . . ,
1909.
2.53
2.47
2.35
2.34
2.21
2 . 18
2.32
2.30
2.08
2.23
930
1,015
1,074
1,140
1,212
1,235
1,351
1,488
1,636
1,646
« •
•
146
-
103
...
-lb
- 114
-64
-91
- 149
-77
- 172
-
101
-
101
- 246
-^181
- 6 1
-99
20
102
218
202
114
137
174
246
202
272
-12
-59
12
-77
- 157
-
226
166
-
150
-90
-20
-
119
98
127
34
132
444
427
507
438
258
340
279
298
296
296
427
26
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
3.26
3.34
3.59
4.08
3.90
2.20
2.09
2.15
2.17
1.91
1.90
2.12
2.18
2.51
2.28
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
3.89
3.27
3.45
3.75
3.61
3.66
3.74
3.67
3.71
3.90
2.20
1.90
1.88
2.04
1.97
1.88
1.95
1.8/
1.84
1.95
1930.
1931.
1932.
1933.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
3.55
3.19
2.81
2.86
1.70
1.47
1.28
1.38
3.05
2.85
2.84
2.98
2.83
2.71
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
2.57
2.73
2.89
2.68
2.48
2.15
1.98
1 ,658
1 ,759
1 ,825
1 ,881
...
...
...
...
1,881
2,C05
2,482
3,110
3,161
3,127
...
...
...
...
...
...
46
274
257
374
56
lt748
3,102
3,475
2,458
...
...
...
166
4,868
2,878
3,293
3,802
4,061
4,440
4,381
4,450
4,560
4,205
4,283
-68
735
269
266
28
-40
- 362
-1,047
- 121
-53
3,523
2,122
997
842
1,351
1,087
826
1,073
1,377
1,148
598
1,132
726
323
1.52
1.52
1.60
1.67
1.53
1.52
4,474
4,700
4,245
24,350
^7,156
7,744
9,057
10,575
12,151
13,250
16,085
07
29
31
1.51
1.61
1.84
1.77
1.61
1.37
1.16
1.23
1.30
1.26
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
49
75
76
84
80
96
08
23
23
39
1960.
1961.
1962.
1963.
1964.
1965.
58
63
83
91
02
21
^Average of 1919-21.
-
...
...
...
...
...
..... •
...
...
650
1 814
703
876
1,032
516
407
358
624
529
401
375
806
718
572
535
1,140
1,174
896
1,053
1,482
1,915
601
128
115
297
1,291
1,066
423
472
534
573
527
556
583
616
691
715
656
704
19,852
22,544
22,729
22,371
21,211
20,254
20,286
21,379
23,514
24,432
2,890
1,119
- 205
-1,979
-1,859
-2,737
993
4,210
817
136
1,719
1,289
6
-2,0^9
-1,830
- 613
7,494
11,529
6,440
6,149
595
719
909
1,102
1,194
1,234
1,249
1,316
1,430
1,384
757
903
1,104
1,276
1,313
1,336
1,379
1,438
1,498
1,456
1.41
1.51
1.49
1.50
1.47
1.56
1.62
1.66
1.61
1.67
23,906
22,028
23,252
22,424
21,886
21,690
21,810
22,493
21,570
19,953
-3,489
-8
-1,206
-2,184
-1,541
-1,242
- 973
578
-3,365
-3,870
1,779
3,671
2,226
386
1,828
2,009
3,967
5,729
2,206
147
1,496
1,652
1,733
1,804
1,785
1,876
1,975
2,045
2,068
2 , 161
1,605
1,783
1,869
1,924
1,907
2,032
2,154
2,242
2,257
2,338
1.74
1.69
1.68
1.65
19,011
17,384
16,361
15,735
15,460
14,265
-3,881
-2,370
-2,203
-2,670
-2,798
-1,355
4,046
5,621
5,130
5,897
8,490
6,957
2,215
2,264
2,368
2,451
2,574
2,724
2,424
2,495
2,616
2,688
2,824
2,979
...
...
-3,402
-1,347
-2,706
-2,044
-1,546
-1,302
^In January 1934 the price of gold increased from $20.67 to $35.00 per ounce; figures for 1933 show gold with and without devaluation profit of $2,806 billion.
1
to
I-*
M
Series C3toC13
£2
o
§
Per capita personal income: APS(Eastertin)-OBE (Dollars)
Year
C3. Middle Atlantic Division
C4. East North C5. West North C6. South Atlan- C7. East South C8. West South C9. Mountain
Central Division Central Division Division
Central Division Central Division tic Division
010. Pacific
Division
C l l . Maine
New England Division
012. New
013. Vermont
Hampshire
I
o
1880...
254
178
157
91
90
105
292
357
149
198
168
1900...,
288
216
197
104
100
123
282
329
187
214
190
1920^...
1921....
1922...,
1923...1924...,
1925....
1926...,
1927...,
1928.
1929...,
...
...
...
...
...
....•.
...
...
...
611
5
580
436
...
...
...
...
...
...
...
...
883
348
...
...
...
...
...
...
...
...
654
462
...
...
...
...
...
...
...
...
471
5 72
...
...
...
...
...
...
...
...
342
803
...
...
...
...
...
...
...
...
413
979
...
...
...
...
...
...
...
.. .
580
911
601
690
62
1930...,
1931...,
1932....
1933....
1934. . . ,
1935. . . .
1936....
1937....
1938...,
1939. . . .
895
761
584
541
595
635
720
753
695
733
684
568
^11
380
449
518
593
656
574
621
510
419
315
279
306
401
411
474
439
456
^15
367
288
283
324
354
402
429
399
^26
284
244
17 7
180
213
232
268
291
262
270
365
311
233
228
257
290
329
366
352
363
519
412
321
305
351
419
482
486
473
487
815
680
520
490
546
600
701
727
707
725
575
491
379
374
413
428
500
505
470
493
648
560
430
419
477
495
536
565
534
559
569
468
360
339
370
409
462
478
452
480
1940. . . .
1941....
1942....
1943....
1944....
1945....
1946....
X947...,
1948....
1949....
783
909
1,088
1,300
1,436
1,502
1,516
1,562
1,651
1,614
667
817
1,003
1,237
1,316
1,346
1,349
1,457
1,603
1,518
483
597
805
967
1,046
1,112
1,164
1,244
1,446
1,300
459
561
733
869
94 8
994
1,007
1 ,042
1,134
1,116
294
383
516
653
753
787
766
807
911
860
383
467
640
825
944
964
938
1,011
1,120
I , 172
516
638
887
1,035
1,072
1, 143
1, 160
1,269
1,367
1,328
784
966
1,253
1,514
1,558
1,534
1,583
1,632
1,709
1,683
523
626
850
lt087
1,091
1,067
1,117
1,150
1,233
1,172
579
707
649
967
1,048
1,283
1,257
507
629
757
902
930
1,013
1,058
1,099
1,158
1,097
1950. . . .
1901....
1952....
1953. . . .
1954. . . .
1955. . . .
1956....
1957....
1958....
1959. . . .
1,750
1,907
1,976
2,064
2,054
2,153
2,281
2,382
2,390
2,499
1,666
1,864
1,938
2,062
1,983
2,096
2 , 199
2,249
2,204
2,323
1,430
1,549
1,626
1,644
1,678
1,683
1,751
1 ,861
1,971
1,991
1,208
1,340
1,419
I ,464
1 ,448
1,539
1,630
1 ,664
1,704
1,789
920
1,036
1,103
1,167
1,151
1,239
1,306
1,354
1,395
1,463
1,209
1,327
1,408
1,460
1,474
1,540
1,622
1,694
1,735
1,797
1,417
1,614
1,690
1,675
1,649
1,730
1,808
1,895
1,975
2,053
1,794
1,977
2,094
2 , 136
2 , 108
2,231
2,330
2,394
2,428
2,560
1,184
1,295
1,409
1,418
1,414
1,549
1,631
1,674
1,736
1,777
1,322
1,496
1,556
1,614
1,651
1,765
1,829
1,928
1,958
2,091
1,145
1,301
1,350
1,397
1,415
1,481
1950....
1961....
1962....
1963....
1964. . . .
1965....
2,570
2,611
2,726
2,793
2,932
3,079
2,385
2,^07
2,524
2,620
2,758
2,964
2,068
2,120
2,242
2,316
2,390
2,587
1,833
1 ,887
1,989
2,075
2,215
2,355
1,478
1,540
1,609
1,702
1,785
1,905
1,809
1,868
1,912
1,994
2 , 100
2,217
2,095
2,142
2,268
2,307
2,384
2,477
2,607
2,678
2,788
2,885
3,011
3,116
1,842
1,827
1,901
1,952
2,093
2,245
2,151
2,213
2,309
2,351
2,447
2,570
1,848
884
707
567
...
...
...
...
...
...
1,106
1,145
1,208
1,601
1,659
1,659
1,747
1,880
1,980
2,012
2,135
2,340
Series C14to C24
Per capita personal income: A P S ( E a s t e r l i n ) - O B E (Dollars)
New England Division
Year
C14. Massachusetts C15. Rhode
Island
Middle Atlantic Division
C16. Connecticut
C17. N e w York
East North Central Division
C18. N e w Jersey C19. Pennsylvania
C20. Ohio
C21. Indiana
C22. Illinois
C23. Michigan
C24. Wisconsin
1880.,
292
279
268
28C
253
222
177
150
208
175
156
1900.,
30
293
278
323
277
250
222
182
260
185
179
1920^,
1921..
1922..
1923..
1924.,
1925..
1926.,
1927.,
1928..
1929. .
90
849
89
1 ,026
812
74
07
582
829
719
608
91
871
1,029
1,159
931
775
81
612
95
793
682
1930.,
1931..
1932..
1933..
1934.,
1935.,
1936.,
1937..
1938. .
1939.,
84
76
622
570
616
646
718
735
677
727
787
712
576
561
596
639
706
723
670
713
926
805
621
587
654
704
804
859
769
834
1,C43
886
681
634
684
723
810
839
792
825
859
745
592
529
578
628
713
750
700
751
716
602
451
421
482
517
599
6 34
562
599
671
568
404
390
457
519
597
651
565
619
519
439
311
297
357
419
480
545
474
519
816
675
489
442
508
575
652
731
650
705
659
540
394
349
452
528
616
682
572
624
595
474
364
336
380
463
519
553
512
517
1940..
1941. .
1942..
1943..
1944..
1945..
1946.,
1947.•
1948. .
1949. .
784
902
1 , 0 74
1,261
1,300
1,351
1,398
1,434
1,505
1,475
743
921
1, 134
1, 184
1,261
1,267
1,349
1,436
1,509
1,453
917
1,142
1,417
1,590
870
99 5
1 , 169
1 ,379
1 ,536
1,644
1,691
1,715
1 , 795
1,748
822
960
1,170
1,432
1,563
1,591
1,529
1,570
1,689
1,663
648
771
942
1 , 133
1,240
1,268
1,273
1,348
1,430
1,400
665
829
553
726
913
1,132
1 , 198
1,248
1, 193
1,303
1,451
1,363
754
895
1,039
1,258
1,392
1,470
1,530
1,636
1,815
1,685
679
827
I f, 0 4 7
I f, 3 4 7
I f, 3 8 7
I f 319
1,318
1,454
1,559
1,519
554
675
872
1,053
1,115
1,186
1,209
1,294
1,417
1,365
1950. ,
1951. •
1952..
1953. .
1954..
1955..
1956. .
1957. .
1958. .
1959. .
1,638
1, 798
1, 870
1,914
1, 895
028
148
247
287
372
1,623
1, 783
2,
2,
2,
2,
2,
1,871
2,013
2,C64
2 , 137
2,165
1 540
1 696
I f 772
1,870
1,804
1,889
2,032
2 , 138
2 , 131
2 , 195
1,825
015
078
186
155
2,244
417
490
468
581
1,699
1,873
1,961
2,159
2,030
2,181
2,212
2,227
2,147
2,248
1,475
1,695
1,754
1,784
1,718
1,812
1,922
1,985
2,282
r513
r695
r768
,932
r797
r896
,993
,031
,000
r 124
1960. .
1961. .
1962. .
1963..
1964..
1965..
2,457
2,542
2,656
2,735
2,874
3,023
2,, 2 4 1
2t, 2 5 6
2i, 3 7 0
2,435
2,571
2,728
2,341
2,335
2,436
2,516
2,641
2,816
2 , 194
2,227
2,365
2,478
2,588
2,827
2,651
2,722
2,321
2,296
2,435
2,581
2,764
3,009
Digitized
^Average of 1919-21.
rv) for FRASER
http://fraser.stlouisfed.org/
(jj
Federal Reserve Bank of St. Louis
1,821
1,893
1,878
1,972
2,001
2,003
2,044
2 , 158
2,213
2,280
2,422
2,496
2,641
2,817
1,601
1,568
1,578
1,693
1,711
1,658
1,873
2,136
2,261
2,344
2,292
2,412
2,604
2,714
2,637
2,693
2,393
2 ,488
2,517
2,655
1 834
2 028
134
»247
2 »232
2 ,309
2 r447
2 ,543
2 ,517
2 ,637
2,804
2,889
3,036
3,104
3,232
3,390
2,740
2,789
2 ,895
2,961
3,108
3,242
2,711
2,769
2,893
2,962
3,084
3,242
2,281
2,
2,
1,028
1,259
1,322
1,349
1,311
1,412
1,559
1,476
1,622
1,850
1,929
2,030
1,963
2,084
2 , 175
2,231
2 , 152
2,828
2,915
3,042
3,245
2,011
2,148
2,170
2,216
2,324
2,3o4
2,507
2,682
N)
t—'
Series C25 to C35
o
Per capita personal income: A P $ ( E a s t e r M n ) - Q B E ( D o l l a r s )
South Atlantic Division
West North Central Division
Year
C25. Minnesota
C27. Missouri
C26. Iowa
C30. Nebraska
C29. South
Dakota
C28. North
Dakota
C31. Kansas
C32. Delaware
CSS. Maryland
CS4. V i r g i n i a
CSS. West
Virginia
I
o
156
120
199
171
85
89
183
212
187
220
204
110
117
539
557
588
08
726
420'
...
...
...
...
...
...
...
513
1880.,
175
168
157
1900.,
207
202
188
209
1920^.
1921. ,
1922..
1923..
1924.,
1925..
1926.,
1927.,
1928.,
1929. ,
5
564
584
458
598
577
628
375
417
90
535
1930. ,
1931.,
1932.,
1933.,
1934.,
1935.,
1936.,
1937.,
1938.,
1939. ,
552
458
363
311
358
447
470
535
494
517
507
398
295
254
268
417
387
508
455
469
569
495
368
338
368
422
468
508
478
506
305
182
176
145
177
266
229
319
278
314
358
239
188
129
179
300
240
319
316
340
517
410
306
2 76
255
401
390
409
402
395
468
399
268
251
285
357
381
421
382
380
1940.,
1941..
1942.,
1943.,
1944.,
1945.,
1946.,
1947. ,
1948.,
1949.,
526
617
796
935
998
1,100
1,174
1,256
1.431
1,309
501
607
825
995
984
1,069
1,207
1 , 190
1,601
1,327
524
646
809
962
1,073
1,134
1,186
350
52 2
654
927
1,002
1 ,009
1,046
1,446
1,402
1,131
359
470
742
816
950
1,047
1,083
1,232
1,496
1,091
439
548
811
993
1,072
1 , 163
1,151
1,243
1,509
1,304
1950.,
1951.,
1952.,
1953.,
1954.,
1955.,
1956..
1957.,
1958..
1959..
1,410
1,548
1,591
1,664
1,670
1,727
1,782
1,872
1,989
2,019
1,496
1 , 589
1,664
1,608
U732
1,431
1,556
1,656
1,729
1,715
1,802
1,884
1,922
2,023
1,242
1,437
1,271
1,376
1,397
1,292
1,364
1,602
2,101
1,264
1,314
1,218
1,245
1,255
1,379
1,438
1 ,480
1,701
1,540
1 490
1 570
668
1 612
1 681
1,594
1,627
1,875
1,962
1,975
1960.
1961.
1962.
1963.
1964.
1965.
2,115
2,193
2,254
2,370
2.432
2,625
2,115
2,166
2,270
2,354
2,446
2,628
1,718
1,508
2,156
2,014
2 , 122
2,304
1,782
1,772
2,110
2,000
2,114
2,247
1,911
1,881
2,055
2,280
2,361
2,573
http://fraser.stlouisfed.org/
Averaee of 1919-21.
Federal Reserve Bank of St. Louis
•
1,616
1,702
1,876
1,925
1,953
1,988
2,082
2 , 176
2,304
2,356
2,595
1,221
1,389
1,338
1,666
1,472
1,
1,0
.
.
...
...
•.... •
•...
.•
...
...
777
435
462
849
769
588
565
628
690
850
929
782
916
719
640
511
465
521
545
617
664
633
661
384
368
282
283
314
345
386
417
387
422
411
358
258
260
311
337
389
416
371
387
426
552
849
1,034
1,164
1,159
1,116
1,288
1,334
1,287
1,004
1 , 141
1,267
1,438
1,483
1,507
1,533
1,634
1,697
1,828
712
873
1,120
1,292
1,331
1 318
1 313
1 350
I f 467
1 457
466
581
782
839
898
946
990
1,002
1,130
1,108
407
495
613
738
822
890
921
1,029
1,120
1,033
1,444
1,579
1,784
1,723
1,764
1,735
1,798
1,885
2,077
2,081
2,107
2,183
2,267
2,353
2,303
2,493
2,726
2,615
2,585
2,690
1,602
1,769
1,889
1,965
1,889
1,997
2,132
2,207
2,206
2,272
1,228
1,387
1,470
1,488
1,501
1,572
1,636
1,655
1,684
1,772
1,065
1,192
1,258
1,282
1,232
1,322
1,483
1,597
1,549
1,587
2,168
2,258
2,350
2,409
2,513
2,692
2,735
2,737
2,859
2,970
3,091
3,335
2 347
2,467
2,577
2,677
2,829
3,014
1,843
1,899
2,019
2,094
2,270
2,392
1,602
1,637
1,700
1,785
1,885
2,007
Series C36 to C46
Per capita personal income: APS(Easterlin)-OBE (Dollars)
Year
South Atlantic Division
C37. South
C38. Georgia
Carolina
C36. North
Carolina
C40. Kentucky
C39. Florida
East South Central Division
C41. Tennessee C42. Alabama
C43. Mississippi
West South Central Division
C45. Louisiana C46. Oklahoma
C44. Arkansas
1880..
64
72
86
79
107
81
82
82
79
138
...
1900..
72
74
86
112
120
101
88
84
89
128
114
1920^,
1921.,
1922..
1923.,
1924..
1925..
1926..
1927.,
1928.,
1929.,
354
336
348
324
285
305
.... .
....
...
...
...
...
...
504
377
...
...
...
...
...
...
...
426
391
...
...
...
...
...
...
...
...
281
521
...
...
...
...
...
...
...
361
350
...
...
...
...
...
...
...
...
400
270
...
...
...
...
...
...
...
...
437
334
...
...
...
...
...
...
...
...
415
454
1930.,
1931.,
1932.,
1933.,
1934.,
1935.,
1936.,
1937.,
1938.,
1939.,
293
248
187
207
245
269
295
321
296
316
241
204
157
174
205
226
253
267
249
273
308
256
199
2 04
240
267
301
311
290
310
464
395
314
284
339
367
44 0
476
452
486
325
289
210
205
229
262
290
334
292
303
325
275
197
204
240
260
300
328
298
308
266
222
161
165
205
215
248
262
243
250
203
174
126
131
165
175
222
220
200
205
223
209
155
155
177
201
239
247
226
242
358
318
239
226
260
286
325
348
346
357
368
299
216
222
247
293
317
369
343
345
1940.,
1941.,
1942.,
1943..
1944.,
1945.,
1946.,
1947.,
1948.,
1949.,
328
426
575
691
765
821
858
894
966
934
307
392
540
639
724
743
763
779
891
850
340
424
571
725
835
882
844
884
959
940
513
59 7
769
985
1,090
1,151
1,137
1,143
1 , 181
1,191
320
392
533
689
759
794
811
850
1,006
949
339
433
555
717
856
902
856
876
950
933
282
375
515
651
735
780
744
794
865
815
218
313
440
528
627
627
605
662
789
691
256
338
471
541
672
722
729
719
891
815
363
449
593
784
879
892
829
881
1,032
1,085
373
434
624
774
944
967
939
1,015
1,145
1,170
1950.,
1951.•
1952.,
1953.,
1954.,
1955.•
1956.,
1957.,
1958.,
1959.,
1,031
1 , 132
1 , 173
1,217
1,234
1,308
1,373
1,366
1,434
1,508
893
071
160
199
119
182
210
236
259
336
1,025
1,158
1,231
1,279
1,252
1,368
1,440
1,464
1,516
1,607
1,281
1 ,359
1,443
1 ,52 7
1,521
1 ,621
1,724
1 ,769
1,828
1,939
997
1,161
1,249
1,312
1,289
1,346
1,433
1,481
1 ,508
1,566
1,000
1,087
1 , 143
1,235
1,228
1,286
1,373
1,423
1,452
1,534
879
1,005
1,071
1,124
1,099
1,232
1,303
1,370
1,403
1,464
755
830
886
922
908
1,020
1,025
1,039
1 , 126
1,203
841
945
1,011
1,052
1,059
1,156
1,206
1,217
1,287
1,387
1 , 120
1,204
1,279
1,346
1,346
1,396
1,499
1,614
1,613
1,666
1,144
1,285
1,392
1,469
1,448
1,509
1,583
1,644
1,765
1,809
1,560
379
431
533
582
690
838
1,639
1,679
1,777
1,879
2,003
2,156
1 ,954
1 ,973
2,055
2 , 141
2,294
2,420
1,586
1,679
1,760
1,848
1,893
2,043
1,545
1,621
1,696
1,773
1,876
1,992
1,487
1,506
1,579
1,672
1,781
1,910
1,204
1,267
1,307
1,433
1,493
1,566
1,379
1,492
1,548
1,628
1,712
1,781
1,655
1,688
1,749
1,845
1,940
3,061
1,867
1,916
1,932
2,000
2,116
2,236
1960.,
1961.,
1962.,
1963.,
1964.,
1965.,
^Average of 1919-21.
fNO
http://fraser.stlouisfed.org/
cn
Federal Reserve Bank of St. Louis
1,626
1,728
1,803
1,923
2,028
...
...
...
...
...
...
...
313
...
...
...
...
...
...
...
...
329
• « «
...
...
..•
.••
...
hO
cr>
S
Series C47 to C57
Per capita personal income: A P S ( E a s t e r l i n ) - O B E (Dollars)
Year
P a c i f i c Division
Mountain Division
C47. West South
Central: T e x a s
C48. Montana
C50. Wyoming
C49. Idaho
C51. Colorado
C53. Arizona
C52. N e w
Mexico
C54. Utah
C55. Nevada
C56. Washington C57. Oregon
I
o
1880..
98
456
281
321
371
105
399
134
606
234
234
1900.,
138
415
221
311
318
148
321
183
395
296
248
1920^,
1921..
1922.,
1923..
1924.,
1925.,
1926.,
1927.,
1928..
1929,.
539
627
597
02
728
477
701
556
939
770
4
478
595
503
677
637
407
591
559
878
750
683
1930..
1931..
1932.,
1933.,
1934..
193i>. ,
1936..
1937..
1938..
1939.,
411
346
262
253
284
318
363
408
396
409
503
383
337
299
361
473
477
513
514
530
497
370
270
228
378
393
461
418
421
434
584
476
374
36 5
403
489
54 2
601
553
585
580
474
356
355
369
442
538
531
507
516
333
287
209
209
243
286
333
354
333
352
514
424
315
300
353
406
454
492
468
477
505
378
309
300
314
392
465
450
450
462
826
649
542
500
531
650
822
748
762
841
665
538
403
378
439
489
568
600
586
617
620
513
384
363
439
464
554
564
544
582
1940..
1941.,
1942.,
1943..
1944.,
1945..
1946..
1947..
1948..
1949.,
432
524
712
931
1,038
1,051
1,028
1,128
1,199
1,290
570
715
896
1 , 128
1 , 168
1 , 191
1,278
1,457
1,616
1 , 385
464
594
904
1,004
608
783
944
1,142
1 ,229
1 ,258
1,340
1,488
1,595
1 ,604
54 6
648
891
1,030
1,063
1,183
1.195
1,338
1,434
1,405
375
471
628
758
869
926
906
988
1,084
497
628
898
986
1.036
1 , 107
1,083
1,149
1,273
1,268
487
603
890
1,132
1,058
1,128
1,094
1 , 178
1,239
1,241
876
975
1,547
1,493
1,477
1,585
1,717
1,732
1,816
1,824
662
871
1,203
1,473
1,535
1,425
1,395
1,497
1,598
1,567
623
838
1,140
1,401
1,415
1,381
1,396
1,518
1,586
1,538
1950..
1951..
1952..
1953.,
1954.,
1955.,
1956..
1957..
1958..
1959..
1,349
1,469
1,544
1,584
1,612
1,622
1,760
1,f 786
1 ,r 7 7 8
1 ,r 728
r 851
1,1
1,890
1,943
2,057
2,014
1,293
1,440
1,585
1,506
1,499
1,535
1,663
1,715
1 ,796
1 ,668
1,487
1,745
1,830
1,767
1,719
1,815
1,329
1,566
2,021
1,616
1,307
1,489
1,539
1,575
1,551
2,024
2 , 117
2.196
1 , 176
1,305
1,366
1,387
1,415
1 , 505
1, 5 9 1
I f 695
1. 841
1, 909
1,673
1,766
1,805
1,839
1,962
1,703
1,790
1,827
1,923
1,672
1,819
1,917
1,998
1,998
2,035
2,090
2,167
2,315
1,585
1,752
1,837
1,835
1,795
1,903
1,996
1,981
2,072
2,182
2,039
1,974
2,273
2,263
2,295
2,409
1,845
1,908
2,027
2,040
2,114
2,338
2,275
2,344
2,426
2,481
2,583
2,706
1,885
1,948
2,014
2,053
2,121
2,227
2,345
2,451
2,590
2,615
2,707
2,864
2,230
2,275
2,379
2,475
2,613
2,794
1960.<
1961..
1962..
1963.,
1964..
1965..
http://fraser.stlouisfed.org/
Average of 1919-21.
Federal Reserve Bank of St. Louis
1,668
1,754
1,825
1,853
1,915
1,927
1,986
2,029
2, 110
2,222
2,346
1,080
1,114
1,169
1,251
1,313
1,246
1,868
1,910
1,866
1,891
1 ,816
854
936
051
139
235
2,260
2,301
2,382
2,413
2,444
2,479
1,888
1,116
1,661
1,649
2.037
2,068
2 , 163
2,198
2,287
2,3ia
1,622
1,964
2,034
2,157
2,206
2,273
2,340
2,252
2,432
2,465
2,440
2,551
2,505
2,591
2,655
2,775
2,862
2,934
3,247
3,242
3,261
3,289
2,211
Series C58 to C68
Per capita personal income:
A P S ( E a s t e r l i n ) - O B E (Dollars)
Personal income: A P S ( E a s t e r l i n ) - O B E ( M i l l i o n s of dollars)
C61. United
States
P a c i f i c Division
Year
C58. C a l i f o r n i a
C59. A l a s k a
C60. Hawaii
C62. N e w England
Division
C63. Middle At- C64. East North C65. West North C66. South
lantic Division Central Division Central Division Atlantic
Division
1880.
392
8,740
988
2,661
1,997
1900,
365
15,390
1,518
4,457
3,455
1920^
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929. . . . .
998
69,277
6,06
19,711
995
85,661
7,125
1930.
1931.....
1932
1933.....
1934.....
1935
1936
1937
1938
1939.....
889
746
574
541
592
651
760
786
764
775
76,780
65,59 7
50,022
47,122
53,482
60,104
68,363
73,803
68,433
72,753
1940
1941
1942
1943
1944
1945.....
1946.....
1947
1948
1949
840
1,009
1,281
1,540
1,582
1,580
1,654
1,678
1,751
1,728
1950
1951.....
1952
1953
1954.....
1955
1956
1957
1958
1959
1,851
2,042
2,166
2,203
2,170
2,311
2,418
2,487
2,509
2,647
1960
1961
1962
1963
1964
1965
2,705
2,772
2,882
2,986
3,112
3,196
^Average of 1919-21
C 6 7 . East South C68. West South
Central Division Central Division
689
500
351
2,0
1,086
753
804
15,389
7
5,833
3,052
4,879
25,350
20,235
7,584
7,247
3,428
5,259
6,588
5,881
4,699
4,413
4,836
5 , 152
5,799
6,015
5,530
5,940
23,585
20,296
15,695
14,616
16,155
17,283
19,674
20,614
19,170
20,185
17,328
14,431
10,501
9,737
11,544
13,378
15,394
17,109
15,060
16,428
6,802
5,633
4,252
3,781
4,156
5,468
5,588
6,415
5,926
6,165
6,570
5,858
4,622
4,580
5,320
5,857
6,726
7,280
6,890
7,493
2,815
2,433
1,776
1,820
2,180
2,393
2,779
3,030
2,763
2,889
4,451
3,824
2,875
2,834
3,216
3,667
4,179
4,665
4,521
4,710
1,312
1,384
1,407
1,353
78,522
95,953
122,417
148,409
1 6 0 , 118
164,549
175,701
189,077
208,876
205,793
6,398
7,754
9,522
10,892
11,274
11,372
12,286
13,026
13,833
13,657
21,563
24,940
29,408
34,454
37,473
38,798
42,174
45,021
48,800
48,702
17,818
22,084
27,227
32,748
34,901
35,511
38,332
42,488
47,809
46,017
6,515
7,934
10,566
12,352
13,014
13,780
15,341
16,726
19,674
17,999
8,227
10,435
14,150
17,272
18,912
19,507
20,150
21,005
22,910
22,990
3 , 184
4,181
5,628
7,033
7,637
8 , 124
8,285
f;,89i
1 ),096
9,607
5,005
6,228
8,654
11,173
12,432
12,550
12,822
14,090
15,836
16,655
2,384
2,836
2,612
2,492
2,300
2,273
2,448
2,323
2,357
2,507
1,386
1,580
1,748
1,795
1,802
1,838
1,899
1,944
1,987
2 , 172
226,214
253,232
269,769
285,456
287,607
308,266
330,479
348,460
358,474
380,964
14,950
16,565
17,490
18,528
18,752
20,057
21,384
22,489
23,068
24,406
52,932
57,877
60,909
64,860
65,716
69,783
74,592
78,750
80,170
84,819
50,857
57,563
61,029
66,325
65,565
70,796
75,651
78,642
78,412
83,469
2 0 , 162
21,943
23,048
23,463
24,258
24,784
26,095
27,874
29,556
30,259
25,666
29,212
31,398
32,777
32,886
35,709
38,871
40,821
42,672
45,714
10,572
11,951
12,671
13,279
13,049
14,167
14,983
15,652
16,290
17,360
17,663
19,886
21,423
22,134
22,424
23,990
25,684
27,442
28,460
29,931
2,821
2,690
2,751
2,839
3 , 159
3,375
2,369
2,484
2,537
2,641
2,787
2,906
398,726
414,411
4 4 0 , 190
462,335
492,466
527,890
25,525
26,565
2 8 , 136
29,347
31,119
33,159
88,115
90,889
95,909
99,562
105,650
111,996
86,554
88,077
93,091
97,635
104,255
113,075
31,892
32,941
35,014
36,391
37,786
41,077
47,832
50,332
54,085
57,577
62,560
67,616
17,659
18,867
19,954
21,335
22,644
24,407
30,791
32,419
34,049
35,935
38,375
41,078
...
...
...
...
...
...
...
...
525
...
...
...
...
577
968
CO
Series C69 toC79
Year
Personal income:
A P S ( E a s t e r l i n ) - O B E ( M i 1 lions of d o l . )
C69. Mountain
C71. United
C70. P a c i f i c
Division
States
Division
o
Resident population: Census (Thousands)
C72, N e w
England Division
C73. Middle
Atlantic Division
C74. East
North Central
Division
C75. West North C76. South AtCentral Division lantic Division
C77. East South C78. West South C79. Mountain
C e n t r a l Division Central Division Division
I
o
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
31,443
3 , 135
7,459
6,927
2,170
5,365
4,021
1,748
175
1870.
1871.
1872.
1873.
1874.
187$.
1876.
1877.
1878.
1879.
38,558
3,488
8,811
9 , 125
3,857
5,854
4,404
2,030
315
50,156
4,011
10,497
11,207
6 , 157
7,597
5,585
3,334
653
62,948
4,701
12,706
13,478
8,932
8,858
6,429
4,741
1,214
76,094
77,585
79,160
80,632
82,165
83,820
85,437
87,000
88,709
90,492
5,579
5,624
5,719
5,809
5,906
6,009
6,131
6,254
6,364
6,472
15,480
15,777
16,096
16,439
16,810
17,205
17,638
18,066
18,515
18,968
16,002
16,230
16,499
16,727
16,969
17,216
17,435
17,654
17,842
18,034
10,357
10,492
10,627
10,719
10,861
10,987
11,089
11,214
11,345
11,496
10,458
10,625
10,787
10,937
11,082
11,276
11,446
11,595
11,811
12,038
7,554
7,688
7,775
7,858
7,922
8,021
8,118
8,171
8,250
8,340
6,553
6,801
7,037
7,260
7,488
7,706
7,911
8,113
8,345
8,585
1,684
1,784
1,892
1,982
2,049
2,133
2,236
2,333
2,435
2,541
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
191
398
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
475
800
1910
1911
1912
1913
1914.
1915
1916
1917
1918.....
1919
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
92,407
93,868
95,331
97,227
99,118
100,549
101,966
103,266
103,203
104,512
6,565
6,629
6,729
6,883
7,034
7,137
7,198
7,267
7,180
7,304
19,393
19,709
20,017
20,341
20,650
20,912
21,229
21,547
21,503
22,031
18,344
18,614
18,910
19,321
19,748
2 0 , 116
20,452
20,771
20,798
21,172
11,675
11,771
11,868
12,006
12,166
12,316
12,460
12,474
12,168
12,396
12,259
12,474
12,669
12,954
13,266
13,500
13,667
13,788
13,976
13,883
8,442
8,516
8,599
8,737
8,852
8,866
8,897
8,933
8,869
8,845
8,843
9,035
9 , 189
9,375
9,552
9,685
9,869
10,055
10,130
10,132
2,654
2,725
2,793
2,868
2,951
3,024
3,112
3,2il
3,209
3,301
7,454
7,574
7,668
7,756
7,852
7,946
8,018
8,076
8,095
8,130
22,220
22,613
22,951
23,372
23,909
24,328
24,609
24,810
25,369
25,883
21,811
22,349
22,680
23,159
23,667
24,053
24,390
24,792
24,984
25,187
12,562
12,656
12,734
12,812
12,904
12,986
13,071
13,145
13,214
13,260
14,101
14,340
14,484
14,649
14,835
15,015
15,234
15,480
15,610
15,702
8,9C9
9,030
9,144
9,265
9,420
9,495
9,600
9,730
9,812
9,852
10,347
10,577
10,738
10,923
11,128
11,332
11,540
11,762
11,930
12,072
3,344
3,403
3,435
3,478
3,538
3,567
3,592
3,633
3,655
3,650
^2,190
15,948
2,118
7,315
106,466
108,541
110,055
111,950
114,113
115,832
117,399
119,038
120,501
121,770
1930
1931.....
1932
1933. . . . .
1934
1935
1936
1937
1938. . . . .
1939
1,926
1,547
1,210
1,158
1,346
1,625
1,900
1,944
1,910
1,999
6,715
5,694
4,392
4 , 183
4,729
5,281
6,324
6,731
6,663
6,944
123,077
124,040
124,840
125,579
126,374
127,250
128,053
128,825
129,825
130,880
8,175
8,193
8,220
8,254
8,296
8,361
8,391
8,409
8,427
8,438
26,364
26,675
26,885
27,017
27,137
27,234
27,332
27,389
27,564
27,553
25,332
25,426
25,535
25,632
25,694
25,824
25,960
26,096
26,243
26,456
13,335
13,446
13,518
13,567
13,593
13,630
13,601
13,544
13,492
13,505
15,816
15,942
16,066
16,205
16,397
16,563
16,743
16,960
17,263
17,594
9,895
9,952
10,044
10,137
10,241
10,326
10,374
10,427
10,535
10,681
12,209
12,282
12,346
12,438
12,524
12,627
12,695
12,744
12,838
12,975
3,714
3,751
3,775
3,797
3,835
3,881
3,939
3,996
4,042
4,101
1940
1941
1942
1943
1944.....
1945. . . . .
1946
1947
1948.....
1949
2,144
2,607
3,675
4,505
4,573
4,783
5,145
5,791
6,464
6,504
7,668
9 , 790
13,587
17,980
19,702
20,124
21,166
22,039
23,453
23,660
131,954
133,417
134,670
134,697
134,075
133,387
140,638
143,665
146,093
148,665
8,450
8,586
8,627
8,534
8,588
8,515
8,909
9,059
9,233
9,379
27,526
27,443
27,038
26,501
26,101
25,834
27,819
28,822
29,557
30,172
26,725
27,042
27,158
26,478
26,511
26,379
28,425
29,153
29,833
30,325
13,498
13,292
13,126
12,768
12,446
12,394
13,180
13,446
13,604
13,851
17,935
18,590
19,294
19,874
19,939
19,618
20,014
20,168
2 0 , 199
20,607
10,814
10,917
10,916
10,771
10,411
10,328
10,812
11,022
11,078
11,169
13,075
13,327
13,522
13,546
13,167
13,018
13,675
13,931
14,137
14,205
4,155
4,088
4,143
4,352
4,264
4,184
4,435
4,563
4,727
4,896
1950
1951.....
1952.....
1953
1954.....
1955
1956
1957
1958
1959
7,232
8,361
9,006
9,239
9,347
10,207
11,102
12,026
12,814
13,719
26,180
29,875
32,795
34,850
35,607
38,813
4 2 , 119
44,764
47,028
51,284
151,235
153,310
155,687
158,242
161,164
164,308
167,305
170,371
173,320
176,289
9,315
9,288
9,358
9,62 7
9,832
9,871
9,929
10,030
10,218
10,436
30,243
30,357
30,821
31,418
31,991
32,407
32,699
33,065
33,548
33,935
30,530
30,884
31,498
32,167
33,063
33,780
34,404
34,967
35,578
35,929
14,102
14,169
14,175
14,269
14,453
14,731
14,905
14,978
14,994
15,195
21,250
21,796
22,134
22,384
22,719
23,207
23,842
24,528
25,043
25,556
11,486
11,534
11,492
11,380
11,338
11,435
11,470
11,559
11,681
11,863
14,610
14,991
15,214
15,164
15,209
15,581
15,839
16,200
16,399
16,658
5,102
5,179
5,330
5,515
5,670
5,900
6,139
6,345
6,487
6,684
1960
1961.....
1962
1963
1964.....
1965
14,480
15,350
16,685
17,325
18,162
19,262
55,677
58,970
63,268
67,227
71,913
76,220
179,992
183,057
185,890
188,658
191,371
193,818
10,530
10,647
10,756
10,917
11 , 0 2 1
11 , 132
34,287
34,810
35,189
35,648
36,030
36,372
36,286
36,595
36,887
37,271
37,802
38,143
15,418
15,537
15,617
15,713
15,808
15,878
26,094
26,675
27,189
27,747
28,246
28,716
12,083
12,250
12,400
12,532
12,684
12,810
17,022
17,357
17,805
18,023
18,277
18,529
6,913
7,166
7,356
7,509
7,619
7,776
1920
1921
1922
1923
1924
1925
1926
1927
1928.....
1929
^Average of 1919-21.
K)
H-'
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
ro
o
SeriesC300toC306,D1toD4
Year
C80. Resident population: CensusPacific Division
C81. United
States
£2
o
Value added by manufacturing: Census (Millions of dollars)
C82. New England Division
C84. East North C85. West North C86. South AtCBS. Middle
Atlantic Division Central Division Central Division lantic Division
C87. East South C88. West South C89. Mountain
Central Division Central DiviDivision
sion
C90. Pacific
Division
I
1
§
0
(Thousands)
I860,
186K
444
1862,
1863,
1864,
1865,
1866,
1867.
1868,
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
675
1880.
1881.
1882.
1,115
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1,888
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
2,428
2,567
2,728
2,900
3,078
3,265
3,435
3,601
3,799
4,016
4 , 647
756
1,763
1,205
325
316
149
99
76
141
1,194
2,982
2,177
562
591
294
243
135
350
6,019
8, 160
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
4,231
4,393
4,558
4,742
4,901
4,992
5,082
5,221
5,366
5,446
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
5,715
5,998
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
ro
ro
6,220
6,536
6,864
7,107
7,350
7,610
7,831
8,033
8,235
8,371
8,450
8,533
8,655
8,805
9,019
9,257
9,421
9,581
9,386
•«•
• • •
• • •
23,842
•••
3,221
8,400
7,094
1,388
1,847
660
724
304
lf263
3,240
10,176
9,973
1,870
2,458
924
950
370
1,923
2,414
7,309
7,444
1,348
2,217
823
815
269
1,547
...
...
17,253
•••
24,569
•••
25,668
•••
26,325
30,591
•••
18,601
14,008
18,553
•••
25,174
•••
24,487
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.,...
1948
1949.
9,776
10,132
10,846
11,873
12,648
13,117
13,369
13,501
13,725
14,062
74,290
6,798
20,768
23,474
4 , 116
784
5,544
24,502
4,395
7,075
...
3,030
20,676
...
2,884
6,299
...
6,942
75,367
...
2,839
3,070
783
5,728
1950
1951
1952
1953.••••
1954
1955.....
1956
1957
1958
1959.....
14,596
15,114
15,665
16,318
16,888
17,395
18,079
18,699
19,371
20,034
89,750
102,086
109,162
121,659
117,032
135,023
144,909
147,838
141,500
161,315
7,418
8,469
9,024
9,905
9,128
9,680
10,881
10,835
10,439
12,130
23,503
26,666
28,590
31,655
30,403
32,694
36,288
37,150
34,839
38,512
29,818
33,544
35,533
39,926
36,482
42,202
45,189
45,524
40,938
48,222
5 , 154
5,688
6,404
7,050
7,114
7,872
8,560
8,820
8,870
9,945
8,471
9,316
9,657
10,686
10,658
12,401
13,519
13,932
14,292
16,536
3,453
3,912
4,038
4,667
4,702
5,572
6,139
6,292
6,402
7 , 166
3,849
4,810
5,186
5,647
5,721
6,783
7,680
7,933
7,791
8,673
1,042
1,258
1,270
1,502
1,451
1,813
2,149
2,147
2,251
2,473
7,041
8,423
9,459
10,621
11,184
12,520
14,389
15,182
15,666
17,545
1960
1961
1962
1963.....
1964
1965.....
21,359
22,019
22,689
23,299
23,883
24,462
164,003
164,179
179,290
191,911
205,963
12,329
12,645
13,458
13,535
14,390
39,570
39,221
41 ,749
43,459
45,911
48,315
4 7 , 123
52,418
56,036
60,674
10,100
10,263
11,132
10,922
12,869
17,072
17,262
19,259
21,104
22,877
7,188
7,479
8,147
9,168
10,053
8,952
9,215
9,729
10,896
12,208
2,711
2,862
3,177
3,491
3,510
18,060
18,368
20,451
21,944
23,336
...
...
...
...
...
...
...
...
...
...
...
..«
...
...
t>o
t>o
Series C91 to ClOl
Manufacturing employment: Census (Thousands)
C91. United States
Year
C92. New England Division
C93. Middle
Atlantic Division
C94. East North C95. West North C96. South AtCentral Division Central Division lantic Division
C97. East South C98. West South C99. Mountain
Central Division Central Division Division
ClOO. Pacific
Division
ClOl. New
rapital expenditure: CensusUnited States
(Millions of
dollars)
1860.
1861,
1862,
1863,
1864,
1865,
1866,
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
4,850
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
7,012
897
1, 188
1,732
1,177
297
483
188
122
48
133
2,491
1,730
438
715
288
228
85
243
o
I
o
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
N)
ro
1,509
3,349
2,825
604
897
365
324
123
485
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
9,660
1,246
3,003
2,949
567
1,000
417
341
119
556
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
9,527
1, 121
2,758
2,693
491
11
410
331
89
523
«
•
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947, . . . .
1948
1949
14,294
1,475
3,954
4,323
786
1,524
635
551
13,567
1,323
3,737
4,009
...
779
1,502
1951
1952
1953.....
1954
1955
1956
1957
1958
1959
14,467
15,310
15,733
16,693
15,645
16,336
16,694
16,621
15,393
16,029
1,418
1,475
1,482
1,571
1,431
1,455
1,488
1,451
1,360
1,430
3,906
4,064
4,167
4,362
4,105
4,189
4,308
4,271
3,882
3,968
4,328
4,585
4,629
5,000
4,458
4,741
4,749
4,679
4,084
4,295
812
882
947
979
937
951
974
987
933
970
16,160
15,728
16,163
16,973
17,280
1,430
1,416
1,435
1,429
1,421
4,006
3,851
3,892
4,075
4,103
4,322
4,097
4,248
4,485
4,626
959
935
961
1,017
1,046
1960
1961
1962.....
1963
1964
1965
CO
9,837
1,246
5,190
...
...
...
...
...
...
...
...
...
594
...
556
...
1,604
1,668
1,722
1,783
1,745
1,840
1,889
1,879
1,845
1,920
640
674
690
738
715
760
776
772
767
802
1,941
1,924
1,988
2,133
2 , 181
803
796
832
895
924
...
...
...
...
...
140
914
6,004
143
923
...
586
636
662
717
713
747
775
783
776
792
155
165
173
184
182
202
212
216
225
239
1,018
1,160
1,260
1,359
1,357
1,451
1,524
1,585
1,526
1,627
7,782
7,883
8,04b
8,201
8,233
11,233
12,144
9,593
8,801
791
789
809
859
909
254
262
271
284
282
1,655
1,647
1,721
1,797
1,785
10,070
9,764
10,424
11,072
13,436
...
...
...
• .
.
...
...
Series C300 toC306,D1toD4
New capital expenditure: Census (Millions of dollars)
Year
C102. New England Division
C103. Middle At- C104. East
lantic Division North Central
Division
C105. West
North Central
Division
C107. East
C106. South
Atlantic Division South Central
Division
C108. West
South Central
Division
C109. Mountain Clio. Pacific
Division
Division
Realized Tiationcil income: NICB,
Martin (MillioiIS of dollars)
c m . Total
C112. Agriculture
o
o
I
o
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
6,827
1 ,517
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
7,227
1,371
1889.
10,701
1,517
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
15,364
2,933
1900.
1901.
19021903.
1904.
1905.
1906.
1907.
1908.
1909.
16,158
17,170
18,444
19,595
20,090
21,428
23,165
24,403
23,458
26,456
3 ,, 0 3 4
3 ,. 1 5 3
3,, 3 3 5
3i, 4 3 9
3 ,, 7 0 8
3,678
4,029
4,214
4,621
5,311
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1910.
2 8 , 1 6 6
5,563
1911.
2 8 , 1 0 4
5 , 2 4 1
5,679
1912.
2 9 , 4 2 2
1913.
3 1 , 4 5 0
5,559
1914.
3 1 , 2 1 3
5,518
1915.
3 2 , 5 3 3
5 , 9 2 1
1916.
38,739
7,072
1917.
4 6 , 3 7 6
9 , 5 9 0
1918.
5 6 , 9 5 6
11,595
1919.
6 2 , 9 4 5
12,699
1920.
6 8 , 4 3 4
10,569
1921.
5 6 , 6 8 9
7,569
1922.
5 7 , 1 7 1
7,037
7,907
1923.
6 5 , 6 6 2
1924.
6 7 . 0 0 3
8,526
1925.
7 0 , 0 5 1
9 , 0 4 8
8,614
1926.
73,523
1927.
7 3 , 9 6 6
8,599
1928.
75,904
8 . 7 5 6
1929.
79.4
8 , 7 2 0
1930.
7 2 , 3 9 8
6 , 7 6 1
1931.
6 0 , 2 0 3
4 , 4 7 6
1932.
4 6 , 7 0 8
3 , 0 4 0
1933.
4 4 , 7 1 3
3 , 7 7 1
1934.
5 1 , 5 6 0
4 , 6 6 1
1935.
5 6 , 2 5 4
5,517
1936.
6 5 , 2 4 6
6,378
1937.
6 9 , 4 1 9
6.757
1938.
1939.
102
306
423
56
138
49
74
19
1,335
1,869
340
678
256
58
16
81
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
554
1948.
1949.
1950.
1951.
452
1,743
2 , 4 5 7
371
871
340
718
124
706
1952.
420
1,778
2 , 4 6 6
327
754
3 77
951
127
683
1953.
390
1,622
2 , 6 4 3
387
851
399
883
122
751
1954.
424
1,607
2 , 7 2 7
400
833
430
766
125
841
1955.
471
1,584
2 , 6 7 0
406
1 , 0 9 1
349
581
207
827
1956.
574
2 , 0 4 1
3 , 7 4 2
536
If
598
869
272
1,098
504
1957.
618
2,212
3 , 8 2 5
559
1,523
723
1,257
219
1,208
1958.
533
2 , 0 1 0
2 , 7 5 0
561
1,065
530
901
186
1,024
1959.
556
1,817
2 , 4 7 0
516
1,052
483
711
179
931
1960.
618
2 . 0 5 6
2 , 9 8 9
517
1,214
571
786
224
1,095
1961.
594
1,892
2 , 6 9 8
54 5
1,322
521
928
232
1,033
1962.
660
2.057
2 , 7 3 8
590
1,490
573
857
232
1963.
637
2 , 0 9 1
3 , 1 7 1
643
1,465
711
858
235
1,228
1,261
1964.
695
2,353
4 , 3 0 6
740
1,696
878
250
1,369
1965.
i>o
ro
cn
98
1, 120
ro
t>o
Series C113to C123
Realized national income: NICB, Martin (Millions of dollars)
C113. Mining and
quarrying
C114. Contract
construction
1869.
102
387
ItOOO
718
23
1,039
783
968
290
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
153
360
960
896
33
1, 166
867
1,099
322
1889.
232
631
2t022
1,154
44
1,803
1,399
1,341
558
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
416
655
2,714
1 ,52 8
'58
2,578
1,872
1,745
1,005
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
453
552
494
671
645
746
835
1,049
771
859
627
758
839
852
919
1,052
1 , 183
1,096
888
1 , 153
2,941
3,193
3,605
3,812
3,519
4,032
4,377
4,743
4,046
4,824
1,626
1,720
1,820
1,968
2,081
2,210
2,431
2,544
2,524
^2,648
65
75
77
89
99
103
120
134
139
157
2,720
2,858
3,098
3,272
3,380
3,692
4,019
4 , 168
3,894
4,310
2,006
2,163
2,460
2,672
2,850
2,961
3,163
3,297
3,270
3,252
1,774
1,786
1,820
1,869
1,904
1,939
1,973
2,064
2,113
2,544
1,052
1,052
1,036
1,091
1,125
1,155
1,175
1,234
1,332
1,398
Year
C115. Manufacturing
C116. Transpor- C117. Electric
tation and com- light and power
and gas
munication
C118. Trade
C119. Finance
and miscellaneous
C120. Services C121. Government
i860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
...
Net income originating: NBER,
Kuznets (Millions of dollars)
C122. Total
C123. Agriculture
o
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
1,016
1,452
1,773
2,019
1,910
1 , 136
1 , 108
1,224
1,312
980
976
1,C80
1,056
1 , 132
1,633
5,447
5,458
5,996
6,415
6,012
6,401
8,747
10,843
13,076
14,340
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
2,628
982
845
613
276
243
2,573
322
098
2,295
224
720
092
824
874
023
144
096
257
225
16,811
11,759
12,303
15,285
14,591
15,410
16,186
16,282
16,920
18,059
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1,918
1,323
929
902
1 , 172
1,243
1,481
1,743
910
945
932
762
928
1 043
1 447
I f 806
15,958
12,376
8,528
8,428
10,471
11,720
14,138
16,629
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
K>
r>o
949
949
1,039
1,183
1,008
168
192
211
228
250
268
299
332
373
429
4,496
4,548
4,425
5,081
5,508
5,677
6,220
6,978
7,842
9 , 177
3,513
3,592
3,724
3,968
3,987
4 , 127
5,033
5,478
6,049
6,793
2,557
2,514
2,371
2,692
2,832
2,837
3,039
3,357
3,830
4,465
1,484
1,557
1,647
1,752
1,870
,964
070
,700
630
410
67,854
10,862
6,978
7,191
7,243
7,166
7,451
480
500
569
715
854
937
1,036
1,117
1,261
1,392
10,048
8,511
8,831
9,725
9,977
10,405
10,878
10,709
10,874
11,446
7,747
7,637
7,502
8,284
8,957
9,328
10,053
10,418
11,008
11,711
5,436
5,422
5,366
5,929
6,468
6,77 7
7,508
7,600
7,951
8,378
5,017
5,307
5,409
5,572
5,680
5,902
6,340
6,580
6,613
6,819
72,408
53,934
62,390
73,068
73,223
78,195
81,107
80,613
83,336
87,901
9,077
5,538
5,861
6,729
7,114
7,946
7,534
7,458
7,330
7,708
7,012
6,049
4,807
4,445
4,790
5,110
5,605
5,934
1,559
1,478
1,339
1 , 156
1,143
1,158
1,212
1,264
10,628
9 , 126
6,992
6,132
6,853
7,309
7,704
8,414
10,671
9,223
7,312
6,436
6,801
7,000
7,753
8 , 176
7,889
6,889
5,409
4,893
5,404
6,016
6,658
7 , 130
7,093
7,317
7,420
7,785
9,337
10,135
12,870
11,566
73,144
55,572
39,548
42,669
50,982
55,308
63,253
70,847
63,836
5,814
4,041
2,821
3,554
4,749
5,380
6,089
6,274
5,457
2,853
2,945
3 ,r l 0 6
3 ,, 2 6 0
3 ,248
3 ,, 3 4 6
3i , 7 2 7
4 i, 2 6 9
5 ,, 4 1 0
3,089
6,
6,282
6,217
6,808
6,800
ho
00
Series C124to C134
C124. Mining
Year
C125. Construction
C126. Manufac- C127. Transportation and other
turing
public u t i l i t i e s
C128. Trade
C129. Finance
and miscellaneous
o
N ational income: Q B E ^
( M i l l i o n s of dollars)
Net income originating: N B E R , Kuznets ( M i l l i o n s of dollars)
C130. Services
C131. Government
C132. Total
Agriculture, fores try, and fisheries
C133. T o t a l
C134. Farms
I
o
1917.
1918.
1919
1,723
2,070
17,082
5,963
11,111
9,144
6,129
3,768
1920
1921
1922
1923
1924.....
1925
1926
1927
1928
1929
2,488
1,352
1,456
1,975
1,697
1,886
2,172
1,749
1 ,661
1,821
2,610
1 , 859
2 , 358
3,382
3,712
3,952
4,240
4,036
4,014
4,085
17,702
9,814
13,455
16,914
15,427
16,880
17,323
16,817
17,949
19,504
7,348
6,087
6,215
7,094
7,080
7,564
7,888
7,790
8,04 5
8,511
9,498
6,788
8,964
10,154
9,886
10,481
10,658
10,390
10,840
11,105
9,812
9,636
10,561
11,515
12,382
12,812
13,062
13,569
14,523
15,000
6,852
6,652
7,382
8,260
8,644
9,306
10,114
10,318
10,680
11,289
7,017
6,205
6 , 136
7,042
7,277
7,365
8,113
8,483
8,289
8,873
1930.....
1931
1932. . . . .
1933
1934
1935
1936
1937
1938
1939.
1,319
738
463
513
898
950
I ,210
1,440
1,099
3,377
2 , 124
1,042
727
856
1,062
1, 584
1,842
1,691
14,094
9,307
5,380
7,480
9,928
11,816
14,322
16,237
11,959
7,625
6,366
4,867
4,720
4,833
5,149
5,843
6,212
5,513
9,225
7,410
5,453
6,128
7,368
7,721
8,563
9,156
8,863
12,356
9,446
6,946
6,268
7,402
8,360
9,124
9,829
9,564
10,411
8,727
6,398
5,771
6,758
7,363
8,298
9,130
8,872
8,920
7,410
6 , 175
7,503
8 , 188
7,504
8,216
10,724
10,815
86,795
8,473
8,278
75,382
59,669
42,785
40,312
49,515
57,208
65,013
73,650
67,372
72,564
6,400
5,165
3,506
3,872
4,236
6,650
5,749
7,597
5,945
6,026
6,218
4,997
3,373
3,749
4,116
6,507
5,610
7,412
5,779
5,854
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
81,124
104,222
137,065
170,322
182,592
181,485
181,879
199,018
224,178
217,494
6 , 141
8,401
12,166
14,398
14,495
15,204
18,237
18,861
21,623
16,593
5,967
8,200
11,911
14,119
14,164
14,841
17,823
18,397
20,974
15,922
19b0.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
241,074
277,978
291,380
304,734
303,138
331,018
350,799
366,096
367,762
400,025
17,601
20,104
19,211
17,156
16,443
15,430
15,484
15,509
17,910
16,035
16,883
19,316
18,356
16,284
15,515
14,500
14,530
14,563
16,941
15,070
1960.
1961.
1962.
1963.
1964.
1965.
414,522
427,341
457,687
481,927
517,281
559,020
16,852
17,932
18,455
18,587
17,683
21,028
15,857
16,898
17,301
17,404
16,398
19,671
http://fraser.stlouisfed.org/
^The industrial c l a s s i f i c a t i o n for 1929-47 i s based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
Federal Reserve Bank of St. Louis
Series C135 to C145
National income: Q B E ( M i l l i o n s of dollars)
Year
C135. Agricultural
services, forestry,
fisheries
Mining
C136. Total
C137. Metal
mining
C138. Coal
mining
C139. Crude
petroleum and
natural gas
C141. Contract
construction
C140. Mining
and quarrying
of nonmetallic
minerals
C142. Manufacturing, total
Manufacturing—nondurable goods
C143. Total
C144. Food and
kindred products
C145. Tobacco
products
1917,
1918,
1919,
1920,
1921,
1922,
1923,
1924,
1925,
1926,
1927,
• •
•
• •
•
• •
•
• •
•
• • «
•
• « •
1929
195
2 , 101
466
932
499
204
3,835
21,945
10,642
2,128
256
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
182
168
133
123
120
143
139
185
166
172
1,660
960
681
628
I f 145
1,217
1 , 547
1,990
1,544
1,633
276
107
23
39
125
166
262
453
277
345
814
605
396
390
591
585
679
737
577
628
377
137
210
157
358
38 3
490
657
584
529
193
111
52
42
71
83
116
143
106
131
3,199
2,220
1,081
788
1,118
1,342
2,042
2 , 104
2,005
2,342
18,296
12,482
7,334
7,705
11,100
13,390
16,294
19,450
15,151
18,094
9,761
7,525
5,248
4,944
6,488
7,313
8,224
9,591
8,407
9,093
2,392
1,865
1,420
1,358
1,637
1,895
2,096
2,418
2,268
2,302
299
325
316
152
159
211
142
202
229
309
1940.
1941
1942
1943
1944
1945
1946
1947
1948,
1949
174
201
255
279
331
363
414
464
649
671
1,932
2,360
2,588
2 , 764
2,960
2,794
3,011
4,241
5,434
4,543
443
505
581
498
403
334
287
491
610
482
761
971
1,182
1 ,347
1 ,502
1,412
1,535
2 , 132
2,449
1,715
576
678
571
668
825
819
882
1,233
1,921
1,881
152
206
254
251
230
229
307
385
454
465
2,589
4,219
6,491
5,477
4 , 146
4,292
6,498
8,425
10,612
10,534
22,481
33,211
45,437
58,253
60,331
52,186
49,134
59,496
68,707
64,767
10,314
12,894
16,584
19,647
21,006
21,222
24,864
28,035
32,886
30,532
2,480
2,763
3,706
4,402
4,954
5,005
5,542
5,819
7,621
7,445
267
230
190
192
284
236
320
356
416
495
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
718
788
855
872
928
930
954
946
969
965
5,249
5,741
5,498
5,439
5,252
5,881
6 , 558
6 , 504
5,697
5,523
651
745
678
785
7 32
931
1,030
907
716
587
1,997
2 , 114
1 ,830
1,707
1 ,301
1 ,448
1,745
1 ,764
1,393
1 ,306
2,062
2,260
2,357
2,286
2,508
2,708
2,916
3,008
2,791
2,772
539
622
633
661
711
794
867
825
797
858
11,901
14,099
15,204
15,586
15,572
16,640
18,525
19,276
18,991
20,476
76,223
90,230
92,490
100,355
94,583
107,868
113,072
116,251
107,741
124,040
33,345
38,391
38,229
40,292
39,687
44,025
46,239
46,374
45,715
51,103
7,723
8,174
8,856
9,302
9,416
10,300
10,352
10,674
11,098
11,943
468
546
58o
702
691
706
750
814
878
981
1960
1961
1962
1963
1964
1965
995
lf034
1»154
1,183
1,285
1,357
5 , 732
5 , 747
5,653
5,954
5,950
6,432
817
855
758
785
8 83
1,025
1,25 3
1,183
1,141
1,212
1,284
1 ,361
2,734
2,850
2,811
2,917
2,658
2,775
928
859
943
1,040
1, 125
1,271
20,810
21,477
22,834
24,198
26,419
28,328
125,822
125,051
136,988
143,839
155,078
170,408
52,208
52,757
55,609
57,508
61,484
65,632
12,225
12,537
12,832
13,409
14,252
14,480
1,017
1,055
1,136
1,216
1,202
1,191
T h e industrial c l a s s i f i c a t i o n for 1929-47 i s based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
Digitized
r>o for FRASER
ho
• •
ro
00
o
Series C146toC156
o
National income: Q B E ( M i l l i o n s of dollars)
Manufacturing—durable goods
Manufacturing—nondurable goods
Year
C146. T e x t i l e mill
products
C147. Apparel
and other fabricated t e x t i l e
products
C M S . Paper
and allied
products
C149. Printing, C150. Chemicals C151. Petroleum
publishing, and and allied
refining and
allied industries products
related industries
C152. Rubber
and miscellaneous plastic
products
C153. Leather
and leather
products
C154. Total
C155. Lumber
C156. Furniand wood
ture and f i x products, except tures
furniture
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929
1,793
1,270
558
1 ,588
1,123
959
365
602
11,303
1 ,534
1930
1931.....
1932. . . . .
1933... ••
1934
1935
1936
1937
1938.....
1939
1,406
1,151
720
708
1 , 114
1,209
1,365
1,607
1,101
1,267
1,013
821
516
561
808
867
987
1,009
932
1,043
502
387
269
290
418
460
503
564
572
555
1 ,503
1,224
890
809
949
1,050
1,183
1,259
1,146
1,221
1,034
831
566
626
733
811
963
1,168
1,008
1,203
836
291
117
55
111
211
339
604
538
480
282
238
122
110
140
217
216
294
207
280
494
392
312
275
419
382
430
466
406
433
8,535
4,957
2,086
2,761
4,612
6,077
8,070
9,859
6,744
9,001
1 , 126
657
337
318
565
683
900
1 ,077
860
1 ,010
1940
1941
1942
1943.....
1944.....
1945.....
1946.....
1947.....
1948.....
1949
1,515
2,072
2,856
3,017
2,965
3,012
4,008
4,655
5,030
4,011
1 , 152
1,476
1,937
2,424
2,707
2,915
3,365
3,398
3,598
3,426
664
1,029
1,123
1,256
1,347
1,339
1,716
2,221
2,349
2,180
1,264
1 ,375
1,445
1,748
2 ,030
2,235
2,705
3,061
3,353
3,499
1,492
1,943
2,776
3,350
3,350
3,216
3,278
3,768
4,107
4,1A9
691
889
1,174
1,499
1,465
1,410
1,764
2,504
3,893
3,059
324
496
597
899
1,020
929
1,083
1 , 134
1,263
1, 150
465
621
780
860
884
925
1,083
1,119
1,254
1, 118
12,167
20,317
28,853
38,606
39,325
30,964
24,270
31,461
35,821
34,235
1 , 164
1 ,702
1,982
2 ,095
2 ,186
2 ,13 8
2 ,856
3 ,509
2,776
2,334
1,189
1,162
1950.....
1951. . . . .
1952.....
1953.....
1954.....
1955
1956
1957.....
1958.....
1959.....
4,401
5,047
4,462
4,287
3,701
4,183
4,263
4,050
3,868
4,477
3,524
3,916
4,021
4 , 158
3,956
4 , 198
4,485
4,424
4,412
4 , 732
2,703
3,382
3,146
3,331
3,404
3,805
4,293
4,118
4,061
4,602
3,687
3,926
4,183
4,530
4,709
5,137
5,478
5,798
5,727
6,277
4,944
5,990
5,775
6,090
6,236
7,352
7,615
7,981
7,820
9,172
3,457
4 , 142
3,833
4,458
4,448
4,784
5,084
4,526
4,071
4,597
1,313
1,921
2,009
2,071
1,774
2 , 166
2,427
2,485
2,371
2,766
1,125
1,347
1,358
1,363
1,352
1,394
1,492
1,504
1,409
1,556
42,878
51,839
54,261
60,063
54,896
63,843
66,833
69,877
62,026
72,937
2,953
3,332
3,106
3,034
2,882
3,385
3,424
2,973
2,929
3,454
1,399
1,533
1,599
1,612
1,552
1 ,802
1,923
1,933
1,801
2,067
I960.....
1961.....
4,488
4,242
4,664
4,713
5,204
5,854
4,953
5,058
5,489
5,672
6,075
6 , 563
4,707
4,856
5,112
5,163
5,495
5,734
6,655
6,755
7,119
7,312
8,006
8,615
9 , 159
9,418
9,910
10,402
11,212
12,332
4,586
4,501
4,489
4,597
4,667
5,063
2,809
2,811
3 , 172
3,286
3,590
3,984
1,609
1,524
1,686
1,738
1,781
1,816
73,614
72,294
81,379
86,331
93,594
104,776
3,255
3,048
3,289
3,549
3,912
4,122
2,092
2,065
2,260
2,363
2,596
2,850
1963
1964.....
1965.....
...
...
...
...
...
...
...
http://fraser.stlouisfed.org/
T h e industrial classification for 1929-47 i s based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
Federal Reserve Bank of St. Louis
...
...
I
o
Series C157 toC167
National income: Q B E ( M i l l i o n s of dollars)
Transportation
Manufacturing—durable goods
Year
C159. Fabricat- C160. Machinery, C161. Electrical C162. TransC157. Stone, c l a y , C158. Primary
C163. Motor
portation equip- vehicles and
except electrimachinery
and glass products metal industries ed metal
ment and ordproducts
cal
motor vehicle
nance, except
equipment
motor vehicles
C164. Instruments
C165. Miscellaneous manufacturing industries
C166. Total
C167. Railroad transportation
1918.
1919,
192019211922,
19231924.
1925.
1926.
1927.
1928.
1929.....
802
3,718
1,891
1,047
320
1,384
1930.....
1931.....
1932.....
1933.....
1934.....
1935. . . . .
1936.....
1937
1938
1939
616
444
131
215
338
415
580
655
507
666
2,846
1,532
625
859
1,488
1,954
2,630
3,305
2,051
2,867
1,483
75 7
304
426
739
1,C16
1 ,399
1,761
1 ,251
1,496
826
508
250
279
383
529
712
914
665
858
293
151
99
80
131
143
236
337
268
399
841
561
168
382
649
929
1 , 154
1,299
699
1 , 183
1940.....
1941.....
1942.....
1943.....
1944.....
1945. . . . .
1946
1947.....
1948
1949
761
1,072
1,174
1,194
1,136
1,146
1,570
1,864
2,288
2,238
3,873
6,288
8,391
11,016
10,979
9,074
7,353
9,537
6,144
5,622
4,353
3,972
2,180
3,847
5,396
5,927
5,819
5,087
4,767
6,217
6,322
5,749
1,136
1,897
2,475
3,357
3,720
3,056
2,385
3,463
4,030
3,793
816
2,267
6,217
12,107
12,465
7,742
1,700
1,528
2,052
2,088
1,599
2,349
2,009
1,333
1,401
1 , 116
1,964
3,561
4,026
4,796
1,038
1,019
1950. . . . .
1951.....
1952
1953.....
1954. . . . .
1955
1956
1957
1958
1959
2,802
3,190
3,006
3,320
3,367
4,040
4,194
4,156
4,075
4,765
7,394
9,361
8,239
9,698
8,001
10,493
11,291
11,787
9,514
10,895
5,062
6,015
5,947
6,563
6,255
6,960
7,383
7,769
7,2C9
8,088
6,614
9,133
9,953
10,038
9 , 131
9,621
11,356
11,518
9,877
11 , 7 6 5
4,822
5,756
6,581
7,326
6,686
7,124
7,972
8,732
8,411
1 0 , 160
2,259
3,774
5,794
6,933
6,678
6,617
7,322
8,542
8,201
8,430
6,582
6,302
6,375
7,582
6,441
9,553
7,377
7,802
5,401
8,069
1960
1961. . . . .
1962. . . . .
1963
1964
1965
4,640
4,540
4,748
5,062
5,437
5,789
11,103
10,238
10,937
11,521
13,120
14,747
8,113
8,112
8,798
9,184
10,126
11,340
11,861
11,799
13,307
14,016
16,158
18,362
10,469
10,887
12,086
12,326
12,786
14,215
8,270
8,586
9,828
10,411
10,757
11,549
8,532
7,595
10,314
11,848
12,287
14,537
T h e industrial c l a s s i f i c a t i o n for 1929-47 i s based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
ro
http://fraser.stlouisfed.org/
GO
Federal Reserve Bank of St. Louis
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
6,605
4,561
5,594
4,363
3,216
3,038
3,419
3,693
4,266
4,635
4,054
4,643
3,746
2,816
1,974
1,861
2,059
2,236
2,618
2,802
2,369
2,734
1,603
1,462
5,039
6,302
8,604
10,791
11,243
10,536
10,341
11,594
12,793
12,050
2,939
3,774
5,566
6,969
6,892
5,995
5,452
6,271
7,124
6,362
1,268
1,618
1,826
2,007
2,019
2,169
2,423
2,501
2,476
2,902
1,723
1,825
1,835
1,950
1,884
2,079
2 , 168
2,164
2 , 132
2,342
13,362
14,946
15,485
15,833
14,613
15,935
16,974
17,407
16,569
17,903
7,073
7,772
7,897
7,686
6,547
7,102
7,549
7,503
6,746
6,941
2,954
2,982
3,265
3 , 507
3,715
4,391
2,325
2,442
2,547
2,544
2,700
2,874
18,177
18,252
19,060
20,025
21,372
22,926
6,718
6,475
6,438
6,634
6,795
7,084
N)
GO
hO
Series C168 to C178
00
o
National income: OBE (Millions of dollars)
Communication
Transportation
Year
C168. Local suburban and highway passenger
C170. Water
C169. Motor
freight transpor- transportation
tation and warehousing
C171. Air transportation
C172. Pipeline
transportation
C173. Transportation services
C174. Total
C176. Radio
C175. Telephone and tele- broadcasting
and television
graph
C177. Electric,
C178. Wholegas, and sanitary sale and reservices
tail trade,
total
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
824
566
266
-3
129
262
1 , 128
1,100
28
1,638
13,511
1930
1931
1932
1933
1934
1935
1936
1937
1938.
1939
765
633
512
450
485
478
534
546
499
515
544
487
429
423
473
533
594
661
661
743
216
173
127
153
178
200
243
293
206
280
-10
4
10
10
8
14
22
26
30
44
105
81
56
47
103
106
107
130
120
131
228
169
108
94
113
126
148
177
169
196
1,092
1,000
812
702
771
807
884
984
1,007
1,075
1,083
984
791
688
739
770
831
918
942
999
9
16
21
14
32
37
53
66
65
76
1,644
1,598
1,463
1,287
1,419
1,439
1,556
1,716
1,691
1,766
12,357
9,911
6,532
5,625
8,310
9,408
10,768
12,354
12,096
12,604
1940
1941. . . . .
1942.....
1943
1944. . . . .
1945.....
1946.....
1947.....
1948.....
1949
526
582
904
1,218
1,293
1,305
1,501
1,482
1,463
1,407
819
1,027
1 , 190
1,313
1,359
1,404
1,714
2,011
2,315
2 , 392
336
432
425
595
857
989
823
812
1,066
989
57
77
113
151
175
192
216
247
344
391
131
145
117
129
145
131
128
157
194
205
231
265
289
416
522
520
507
614
287
304
1,111
1,237
1,474
1,683
1,822
1,929
2 , 182
2,300
2,817
3,034
1,020
1,131
1,365
1,544
1,647
1,743
1,977
2,073
2,563
2,771
91
106
109
139
175
186
205
227
254
263
1,925
2,072
2,187
2,243
2,227
2,290
2,614
2,791
3,174
3,650
14,460
17,411
20,423
23,882
25,768
28,010
34,604
37,551
39,861
39,035
1950.....
1951
1952
1953
1954
1956.....
1957
1958
1959. . . . .
1,398
1,499
1,541
1,521
1,476
1,484
1,481
1,542
1,520
1,598
2,826
3,114
3,401
3,822
3,860
4,322
4,637
4,890
4,960
5,697
1,029
1,332
1,308
1,397
1,238
1,420
1,552
1,626
1,423
1,522
474
582
652
72 2
78 5
877
972
1,02 5
1,113
1,283
259
284
294
288
297
293
313
321
329
357
303
363
392
397
410
437
470
500
478
505
3,346
3,866
4,280
4,757
5,061
5,657
6 , 156
6,653
7,005
7,709
3,029
3,475
3,845
4,276
4,519
5,016
5,459
5,924
6,236
6,857
317
391
435
481
542
641
697
729
769
852
3,910
4,548
5,049
5,430
5,924
6,218
6,639
6,995
7,433
8,135
40,943
45,091
46,680
47,264
48,251
52,270
54,806
57,243
58,246
63,332
I960.....
1961
1962
1963
1964
1965
1,639
1,678
1,703
1,716
1,771
1,857
5 , 840
6,051
6,588
6,913
7,463
8 , 185
1,654
1,655
1,724
1,815
2,001
2,018
1,400
1,443
1 ,664
1 ,881
2,229
2,574
355
357
340
426
429
454
571
593
603
640
684
754
8,237
8,640
9,284
9,820
10,529
11,152
7,304
7,738
8,253
8,717
9,382
9,924
933
902
1,031
1,103
1,147
1,228
8,934
9,351
9,739
10,344
11,080
11,605
64,396
66,249
70,328
73,414
79,127
83,600
http://fraser.stlouisfed.org/
^The industrial classification for 1929-47 is based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
Federal Reserve Bank of St. Louis
I
o
Series C179 toC189
National income: Q B E ( M i l l i o n s of dollars)
Wholesale and retail trade
Year
C179. Wholesale
trade
C180. Retail
trade
Services
Finance, insurance, and real estate
C l B l . Total
C182. Banking
C183. Credit agen- C184. Security
cies, holding and and commodity
other investment
brokers
companies
C 1 8 5 . Insurance C186. Insurance C187. Real
carriers
agents, brokers, estate
and service
C188. Total
C189. Hotels
and other
lodging places
19171918,
1919,
1920,
1921,
1922,
1923,
1924,
1925,
1926,
1927,
1928,
1929.
4,261
9,250
12,813
2,018
169
726
849
421
8,630
8,843
623
1930
1931.
1932
1933
1934
1935
1936
1937
1938.....
1939.....
4,085
3,221
2,201
1,810
2,545
2,972
3,287
3,971
3,845
3,876
8,272
6,690
4,331
3,815
5,765
6,436
7,481
8 , 383
8,251
8 , 728
10,707
8,761
6,956
5,877
5,641
5,988
6,652
7,251
7,744
7,991
1,641
1,206
915
692
539
662
775
89 3
844
880
-14
-42
-71
-11
10
66
125
140
214
163
97
-45
100
191
214
227
346
241
190
204
775
696
564
552
636
709
785
886
908
904
402
366
328
289
315
330
347
386
383
390
7,806
6,580
5 , 120
4,164
3,927
3,994
4,274
4,705
5,205
5,450
8,371
7,236
5,661
5,141
5,782
6 , 183
6,847
7,514
7,225
7,554
577
465
335
291
361
383
418
473
460
485
1940.....
1941
1942. . . . .
1943
1944
1945
1946.....
1947
1948
1949
4,500
5,276
6,223
6,923
7,64 7
8,244
10,448
11,679
12,857
12,187
9,960
12,135
14,200
16,959
18,121
19,766
2 4 , 156
25,872
27,004
26,848
8,301
9,279
10,730
11,631
12,303
12,983
15,318
16,143
18,365
19,781
980
1,096
1,186
1 ,406
1 ,658
1,824
2,228
2,310
2,543
2,705
186
220
362
280
271
267
45
-5
111
152
186
148
105
209
223
388
394
217
292
311
872
903
983
1,026
1,028
1,021
1,397
1,468
1,919
2,345
405
444
468
488
529
568
750
858
677
701
5,672
6,468
7,626
8,222
8,594
8,915
10,504
11,295
13,045
13,871
8,026
8,867
10,268
11,796
13,158
14,128
16,670
18,093
20,029
20,469
532
585
675
878
990
1,087
1,320
1,289
1,341
1,362
1950
1951
1952
1953
1954
1955
1956.....
1957
1958
1959
13,307
15,376
15,593
1 5 , 7 77
15,825
17,841
19,326
20,314
20,754
22,710
27,636
29,715
31,087
31,487
32,426
34,429
35,480
36,929
37,492
40,622
22,005
24,058
26,469
29,291
31,959
34,105
35,929
38,160
40,874
43,771
3,03 7
3,485
3,820
4,232
4,467
4,777
5,363
5,614
6,006
6,640
213
219
229
246
156
134
126
32
317
402
415
428
444
476
682
805
866
935
1 , 192
1,391
2,208
2,671
2,631
3,088
3,301
3,260
3,062
3,231
3,941
4,299
824
539
1,C84
1,192
1,330
1,372
1,513
1,635
1,739
1,838
15,734
17,154
18,719
20,549
22,335
24,025
25,251
26,713
28,313
30,005
21,768
23,540
25,053
26,811
27,762
31,131
33,896
36,458
38,381
41,664
1,388
1,464
1,557
1,592
1,623
1,717
1,812
1,905
1,885
2,048
I960.....
1961
1962.....
1963.....
1964
1965
23,126
24,243
25,505
26,768
28,682
30,514
41,270
42,006
44,823
46,646
50,445
53,086
45,940
48,072
50,730
53,567
57,115
61,019
7,276
7,330
7,320
7,977
8,562
8,963
435
496
333
361
679
615
1,243
1,656
1,513
1,397
1,578
1,745
4,641
4,946
5,064
4,903
5 , 145
5,329
1,948
2,028
2,175
2,268
2,453
2,590
31,267
32,608
34,991
37,383
40,056
43,007
44,371
47,047
50,678
54,134
58,911
63,013
2,111
2,134
2,270
2,423
2,592
2,785
-
-
-
-
_
-
T h e industrial c l a s s i f i c a t i o n for 1929-47 i s based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
ro
CO
Series C190to C200
00
National income: QBE (Millions of dollars)
Year
o
Services
C190. Personal
services
C191. MiscelC192. Automo- C193. Miscellaneous business bile repair, serv- laneous repair
services
services
ices, and garages
C194. Motion
pictures
C197. Legal
C195. Amuse- C196. Medical
ment and recre- and other health services
ation services, services
except motion
pictures
C198. Educational services
C199. Nonprofit
membership
organizations
C200. Miscellaneous professiona services
K
1917,
1918,
1919,
1920,
1921,
1922,
1923,
1924,
1925,
1926,
1927,
1928,
1929
1,287
1930.
1931
1932
1933
1934
1935
1936
1937
1938
1939
1,218
1,040
814
707
790
865
962
1,113
1 ,028
1,053
1940
1941
1942
1943
1944..
1945.
1946.'....
1947
1948»....
1949.....
1,154
1,292
1,552
1,899
2,015
2,121
2,561
2,640
2,840
2,908
1,439
1,474
908
841
1950
1951.....
1952
1953
1954
1955
1956
1957
1958.....
1959.....
3,021
3,164
3,277
3,416
3,500
3,661
3,916
4,195
4,236
4,462
1,684
1,945
2,204
2,484
2,672
3,011
3,493
3,843
4,088
4,735
1961
1962.....
1963
1964
1965.....
4,608
4,795
5,036
5,282
5,690
6,012
5,093
5,541
6 , 122
6,614
7 , 528
8,343
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
440
379
1,536
689
442
640
206
438
361
194
210
283
329
391
437
426
434
3 36
268
177
154
197
211
253
305
266
288
1,476
1,306
1,037
948
1,036
1,115
1,253
1,323
1,330
1,381
683
701
591
561
600
624
647
680
666
692
451
443
415
383
384
394
408
433
443
449
649
626
569
527
532
528
546
547
556
556
184
152
102
98
113
121
144
156
164
181
701
648
448
513
652
830
882
929
1 , 128
1,045
902
885
310
368
388
4 36
507
613
815
796
830
803
1,463
1,575
1,806
1,988
2,341
2,459
3,025
3,542
3,925
4,045
719
763
793
814
874
930
957
1,036
1,176
1,257
458
496
573
662
666
641
748
923
972
1,040
599
640
716
819
916
983
1,193
1,308
1,492
1,686
193
264
385
344
320
335
480
589
1,140
1,164
864
9 32
958
1,012
1,034
1,172
1,336
1,322
1,445
1,616
665
750
812
833
822
873
973
1,037
993
1,072
866
877
869
849
953
979
949
899
828
908
788
820
880
984
1,039
1,121
1,196
1,235
1,369
1,492
4,412
4,827
5,273
5,801
5,874
7,097
7,530
8,275
9,046
9,967
1,344
1,455
1,515
1,606
1,758
1,926
1,979
2 , 131
2,231
2,488
1,109
1,170
1,222
1,300
1,405
1,524
1,723
1,887
2,040
2,163
1,803
1,971
2,096
2,310
2,486
2,675
2,873
3,120
3,378
3,567
1,252
1,504
1,776
1,934
2,026
2,324
2,850
3,287
3,339
3,593
1,762
1,824
2,017
2,174
2,356
2,535
1,105
1,181
1,227
1,375
1,391
1,482
894
933
890
910
1,054
1,205
1,661
1,789
1,849
1,970
2 , 126
2,237
10,724
11,475
12,609
13,519
14,666
15,562
2,636
2,982
3,162
3,424
3,724
3,881
2,402
2,660
3,010
3,374
3,755
4,137
3,815
3,989
4,298
4,562
4,904
5,291
3,761
4,011
4,385
4,743
5,216
5,579
•
•
.
...
....
.... •
...
...
...
•
•
.
..•
•
•
.
...
...
•
*
.
http://fraser.stlouisfed.org/
The industrial classificatic. for 1929-47 is based on the 1942 Standard Industrial Classification
Federal Reserve Bank of St. Louis
fnr 1948-65 on the 1957 SIC system.
I
o
Series C168 to C178
Persons engaged in production:
N B E R , Kendrick (Thousands)
National income: Q B E ( M i l l i o n s of dollars) ^
Year
C201. S e r v i c e s private households
1879.....
1889
1899.....
1909.....
1919
...
...
...
...
...
...
C209. Rest of
the world
Government and government enterprises
C202. Total
...
...
...
...
...
...
C203. Federal,
- total
C204. Federal,
general government
C205. Federal,
government
enterprises
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
C207. State and
C206 State
and local, total local, general
government
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
1,718
5,093
1,460
879
581
3,633
3,456
177
810
1930.....
1931.
1932
1933.....
1934
1935
1936
1937
1938.....
1939
1,485
1,148
836
733
851
912
1,017
1 , 190
1,026
1 , 132
5,316
5,426
5 , 150
5 , 326
6,271
6 , 724
8 , 108
7,772
8,524
8,523
1,499
1,503
1,424
1,649
2,234
2,382
4,232
3,688
4,203
4,133
915
921
880
1,164
1,694
1 ,768
3,570
3,013
3,505
3,414
584
582
544
485
540
614
662
675
698
719
3,817
3,923
3,726
3,677
4,037
4,342
3,876
4,084
4,321
4 , 390
3,630
3,737
3,565
3,531
3,884
4 , 178
3,696
3,889
4 , 121
4,185
187
186
161
146
153
164
180
195
200
205
746
547
393
323
303
367
300
283
386
313
1940
1941
1942
1943
1944
1945
1946.....
1947
1948.....
1949
1,221
1,240
1,480
1,600
1,890
2 , 145
2,123
2,350
2,363
2,356
8,762
10,500
16,332
27,037
33,716
36,764
22,699
18,699
19,772
22,033
4,235
5,835
11,563
22,038
28,438
31,034
16,100
10,863
10,613
11,886
3,489
5,027
10,645
20,899
27,250
29,786
14,606
9,395
8,936
10,027
746
808
918
1,139
1,188
1,248
1,494
1,468
1,677
1,859
4,527
4,665
4,769
4,999
5,278
5,730
6,599
7,836
9 , 159
1 0 , 147
4,289
4,388
4,473
4,663
4,938
5,370
6 , 177
7,320
8,502
9,422
238
277
296
336
340
360
422
516
657
725
357
363
365
367
423
369
571
824
991
1,005
1950
1951
1952. . . . .
1953
1954
1955
1956
1957
1958.....
1959
2,572
2,661
2,614
2,690
2,570
3,051
3,266
3,322
3,503
3,553
23,602
30,418
34,669
35,509
36,102
38,087
40,685
43,445
46,885
49,266
12,699
18,402
21,364
21,040
20,220
20,980
21,759
22,525
23,841
24,380
10,760
16,256
18,925
18,614
17,805
18,387
19,011
19,608
20,591
2 1 ,C30
1,939
2,146
2,439
2,426
2,415
2,593
2,748
2,917
3,250
3,350
10,903
12,016
13,305
14,469
15,882
17,107
18,926
20,920
23,044
24,886
10,124
11,136
12,225
13,306
14,669
15,807
17,585
19,520
21,524
23,280
779
880
1,080
1,163
1,213
1,300
1,341
1,400
1,520
1,606
1,164
1,337
1,292
1,303
1,616
1,796
2,075
2,195
2,030
2,171
1960
1961
1962
1963
1964
1965
3,799
3,733
3,803
3,824
3,909
3,964
52,891
56,591
60,670
64,681
70,003
75,243
25,524
26,773
28,347
29,676
31,858
33,469
21 , 8 6 8
22,925
24,277
25,261
27,156
28,435
3,656
3,848
4,070
4,415
4,702
5,034
27,367
29,818
32,323
35,005
38,145
41,774
25,615
27,975
30,391
32,859
35,876
39,346
1,752
1,843
1,932
2 , 146
2,269
2,428
2,360
2,932
3,268
3,364
4,014
4,266
^The industrial c l a s s i f i c a t i o n for 1929-47 i s based on the 1942 Standard Industrial Classification system; for 1948-65 on the 1957 SIC system.
C211. Agriculture, forestry,
and fisheries
C208. State and
local, government enterprises
1929.....
Digitized
hO for FRASER
CO
http://fraser.stlouisfed.org/
CJl
Federal Reserve Bank of St. Louis
C210. Total
11,910
5,758
15,639
7,640
21,620
8,996
26,861
9,912
34,785
10,562
42,313
10,418
47,611
10,075
48,233
9,484
60,
16
8, 53
66,693
125
SeriesC300toC306,D1to D4
Persons engaged in production: NBER, Kendrick(niousands)
C212. Mining
C213. Construction
Year
C214. Manufacturing
C215. Transportation
C216. Communications and public utilities
C217. Trade
C218. Finance, C219. Services
insurance, and
real estate
C220. Government
Persons engaged in production:
QBE (Thn usands)
C221. Total
C222. Agriculture, forestry,
and fisheries
00
o
I
o
1860.
1861,
1862.
1863.
1864.
186i>,
1866.
1867.
1868.
1869.
151
580
2,100
569
35
926
48
1,323
420
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
281
645
2,810
766
50
1,232
65
1,547
603
507
964
4,049
1,435
96
2,104
72
2,481
816
1,315
5,365
1,908
167
2,892
325
3,204
1,114
1,744
7,679
2,691
368
4,089
559
4,360
' 1,654
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889,
1890,
1891,
1892,
1893,
1894,
1895,
1896,
1897,
1898,
1899,
1900,
1901,
1902,
1903,
1904,
1905,
1906,
1907,
1908,
1909,
1,079
1910,
1911,
1912,
1913,
191^,
191^.
1916.
1917.
1918.
1919.
1 , 145
1,516
10,600
3,357
629
5,603
904
4,514
3,627
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1,057
2,392
10,570
3,051
1,034
8,028
1,592
6,628
3,184
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
rb3
1,005
1,807
3,326
3,878
10,696
15,481
17,
76
2,35
3,01
901
1,282
1,404
8,384
11,
74
12,447
1,538
1,942
2,339
6,579
7,64
8 , 144
5,530
793
9,993
46,216
9,205
44,080
41,042
37,565
38,052
41,398
42,908
45,980
47,157
45,283
46,605
8,983
8,998
8,862
6,925
9,009
9,140
9,050
8,864
8,543
8,273
48,486
53,112
57,992
63,642
64,634
62,991
57,394
57,705
58,800
57,384
8,044
7,937
7,775
7,540
7,250
7,055
7,033
7,006
7,000
6,781
59,115
62,986
64,164
64,997
63,096
64,221
65,408
65,518
63,743
64,977
6,766
6,324
6,154
5,957
5,928
5,718
5,425
5,189
5,041
4,86c
65,831
65,627
67,047
67,775
69,112
71,248
4,71t)
4,662
4,545
4,^16
4,176
4,039
OJ
00
Series C223to C233
00
o
Persons engaged in production: OBE (Thousands)
C224. Contract
construction
C223. Mining
Year
C225. Manufac- C225. Transturing
portation
C227. Communication
C228. Electric,
gas, and sanitary services
o
C229. Wholesale C230. Finance, C231. Services
and retail trade insurance, and
real estate
C232. Federal
government and
government
enterprises
C233. State and
local government and government enterprises
I
o
1917,
1918,
19191920,
1921,
1922,
19231924,
1925,
1926,
1927,
1928,
3 , 0 3 4
539
495
1,575
6 , 4 8 4
827
2,357
1 , 0 1 7
2 , 3 0 6
10,556
1930
956
2 , 1 8 3
9 , 4 1 8
2 , 7 9 5
531
503
7 , 5 2 4
1 , 5 5 1
6 , 3 1 8
871
2 , 4 4 7
1931
839
1,983
7,983
2 , 4 4 4
468
465
7 , 0 4 0
1 , 4 8 8
5 , 9 3 4
851
2 , 5 4 8
2 , 5 2 3
1 9 2 9 . . . . .
7 , 8 2 1
1932
701
1,644
6 , 7 4 6
2 , 1 0 0
422
409
6 , 4 5 3
1,423
5 , 4 4 3
838
1 9 3 3 . . . . .
724
1 , 3 8 3
7 , 2 7 3
2 , 0 0 8
392
395
6 , 4 3 1
1,373
5 , 2 7 5
1,216
2 , 6 5 6
1934
857
1 , 4 6 0
8 , 4 4 1
2 , 0 7 7
391
411
6 , 9 6 1
1 , 4 0 1
5 , 6 5 8
1,717
3,014
1935
876
1,514
8 , 9 8 3
2 , 1 0 2
390
416
7 , 1 8 0
1,425
5 , 8 5 0
1,776
3 , 2 5 5
1936
934
1 , 7 6 3
9 , 7 3 2
2 , 2 1 3
409
444
7 , 6 3 9
1,475
6,
3,488
2 , 6 6 0
167
1937
993
1 , 7 3 8
10,686
2 , 3 3 3
441
460
8,
1,520
6 , 4 2 9
2 , 8 0 6
2,724
1938
897
1 , 6 8 6
9 , 2 2 9
2 , 0 7 3
419
446
8 , 0 7 5
1,520
6 , 2 4 1
3 , 3 2 9
2,824
1939
870
1 , 8 6 4
10,086
2 , 1 6 9
424
447
8 , 3 8 2
1,560
6 , 3 9 6
3 , 2 7 3
2,860
2,898
162
965
1 , 9 4 1
11,009
2 , 2 5 6
434
467
8 , 7 8 3
1 , 6 1 1
6 , 7 0 7
3 , 3 6 9
1 9 4 1 . . . . .
1 , 0 1 5
2 , 4 4 9
13,274
2 , 4 4 7
478
479
9 , 2 6 2
1,647
6 , 7 8 4
4 , 4 1 5
2,922
1 9 4 2 . . . . .
1 , 0 2 1
2 , 8 5 9
15,430
2 , 5 8 6
504
447
8 , 9 5 7
1 , 6 3 6
6 , 9 2 6
6 , 9 7 9
2 , 8 6 7
1940
1 9 4 3 . . . . .
949
2,
17,556
2 , 7 8 9
521
396
8 , 5 6 0
1,575
6 , 5 9 8
1 2 , 1 8 9
2,790
1 9 4 4 . . . . .
905
1 , 6 4 6
17,218
2 , 9 6 0
519
377
8 , 5 3 4
1 , 5 6 1
6 , 5 2 2
14,366
2 , 7 7 1
6 , 5 4 9
172
1 9 4 5 . . . . .
855
1 , 7 0 0
15,360
3 , 0 1 8
536
385
8 , 9 1 4
1,602
1946
901
2 , 5 5 1
14,681
3 , 0 3 9
652
459
10,392
1 , 8 1 3
...
...
14,217
2,795
5 , 8 1 1
2 , 9 8 9
973
3 , 0 0 7
15,406
3 , 0 4 5
688
502
1 1 , 0 0 1
1,866
3 , 5 2 8
3 , 2 3 4
1 9 4 8 . . . . .
1,033
3 , 2 6 2
15,970
3 , 0 0 8
743
538
1 0 , 7 5 1
1,934
7 , 7 1 6
3 , 4 1 6
3,424
1 9 4 9 . . . . .
962
3 ,
14,853
2 , 8 0 9
742
552
10,662
1,947
7 , 7 4 1
3 , 6 0 3
3,594
1950.
965
3 , 3 9 9
15,652
2 , 8 4 4
727
558
1 0 , 7 8 3
2 , 0 1 9
7 , 9 7 8
3 , 6 9 7
3,722
979
3 , 6 3 9
16f883
2 , 9 9 4
758
569
1 1 , 2 4 5
2 , 1 1 6
8,
5 , 4 9 9
3 , 8 0 7
1947
. . . .
1 9 5 1 . . . . .
133
168
1 9 5 2 . . . . .
956
3 , 6 3 7
17,196
2 , 9 6 8
787
576
11,398
2 , 2 0 5
8 , 1 8 6
6 , 1 4 8
3,947
1953
916
3 . 5 8 2
18,015
2 , 9 6 2
819
589
1 1 , 4 8 0
2 , 3 0 2
8 , 3 1 6
5 , 9 4 8
4 , 1 0 6
1954
842
3 , 4 6 5
16,798
2 , 7 4 3
819
594
1 1 , 3 3 6
2 , 4 0 1
8 , 2 8 6
5 , 6 0 7
4 , 2 7 2
1 9 5 5 . . . . .
847
3 , 5 5 6
17,356
2 , 7 6 9
835
599
1 1 , 5 9 2
2 , 4 8 1
8 , 7 0 7
5 , 3 1 3
4 , 4 4 3
1956
884
3 , 7 0 0
17,702
2 , 8 0 3
885
607
1 1 , 9 0 8
2 , 5 5 8
9 , 0 9 8
5,168
4 , 6 6 6
1957
881
3 , 6 2 7
17,611
2 , 7 6 3
904
612
11,978
2 , 6 0 2
9 , 3 5 3
5 , 1 2 1
4 , 8 7 3
1958
788
3 , 5 1 3
16,271
2 , 5 3 5
854
627
1 1 , 8 6 8
2 , 6 4 6
9 , 5 3 9
4 , 9 3 5
5,122
1959
756
3 , 6 3 4
17,006
2 , 5 4 7
830
623
1 2 , 0 5 9
2 , 6 9 5
9 , 8 1 5
4 , 8 5 1
5 , 2 9 1
737
3 , 5 9 6
17,126
2 , 5 4 1
836
628
1 2 , 2 9 9
2 , 7 6 2
10,169
4 , 8 8 8
5,530
1961
704
3 , 5 6 0
16,673
2 , 4 4 8
825
627
12,177
2 , 8 2 2
1 0 , 3 8 6
5 , 0 0 1
5,738
1962
687
3 , 6 3 2
17,230
2 , 4 4 2
821
624
1 2 , 2 7 3
2 , 8 7 5
1 0 , 7 1 2
5 , 2 7 0
5,932
669
3 , 7 1 5
17,355
2 , 4 3 2
822
626
12,359
2 , 9 4 4
1 1 , 0 1 2
5 , 2 1 8
6,203
1 9 6 4 . . . . .
666
3 , 8 3 6
17,653
2 , 4 5 1
844
630
12,715
3 , 0 1 9
1 1 , 3 7 3
5,215
6 , 5 3 0
1 9 6 5 . . . . .
670
3 , 9 7 1
18,443
2 , 4 8 6
875
638
13,129
3,084
1 1 , 7 7 0
5 , 2 6 1
6 , 8 7 8
Series C234to C244
Year
C234. Persons engaged in production-rest of world: C235. Total
OBE (Thousands)
Gross national product: OBE (Billions of 1954 dollars)
C236. Agriculture, forestry,
and fisheries
C237. Mining
C238. Contract
construction
C239. Manufacturing
C240. Transpor- C241. Communi- C242. Public
tation
cations
utilities
C243. Wholesale C244. Finance,
and retail trade insurance, and
real estate
1917.
1918.
1919.
19?0.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
19^0.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
2
1930.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
5
5
5
5
5
4
4
4
4
1960.
1961.
1962.
1963.
1964.
1965.
4
4
4
4
4
4
hO
GO
http://fraser.stlouisfed.org/
KD
Federal Reserve Bank of St. Louis
3
5
7
5
5
5
5
5
5
6
282
293
292
17
20
19
318
341
353
369
363
392
400
408
401
428
20
18
439
447
476
492
8
8
7
4
4
5
53
54
54
7
5
7
30
32
34
7
3
5
92
18
6
61
61
63
63
65
70
72
72
71
77
3
4
2
7
0
8
5
5
3
1
36
38
39
40
41
43
45
48
50
52
7
8
117
109
121
20
19
19
18
20
21
20
19
21
5
5
5
5
102
122
122
134
138
21
21
22
23
77
7B
82
86
6
0
6
0
54
56
59
62
7
8
5
6
86
19
20
21
14
17
17
17
17
22
10
18
21
21
21
11
11
19
19
10
10
18
19
22
22
22
10
19
11
11
18
18
23
11
19
21
4
4
4
83
9
9
9
9
8
17
17
15
12
13
13
81
105
111
103
116
116
6
7
7
6
8
7
7
8
8
9
10
11
11
9
12
9
10
13
14
15
11
16
10
. ..
•
1
3
9
7
4
0
2
•
•
•
•
o
Series C245 to C255
Year
Gross national product: OBE
(Billions of 1954 dollars)
C245. Services
C246. GovernC247. Rest of
ment and govern- the world
ment enterprises
O
Value added by manufacture: Census (Millions of dollars)
C248. All man- C249. Food and C250. Tobacco
ufacturing
kindred products products
C251. Textile
mill products
C252. Apparel
and related
products
C253. Lumber
and wood
products
C254. Furniture C255. Paper
and fixtures
and allied
products
I
o
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
4,647
441
309
437
82
90
6,019
515
414
577
116
122
8, 160
752
614
708
151
168
... ..
.. ..
.. .
.
...
..
.
.
.
..
.. .
. ..
..
.. ..
1910
1 9 1 1 . . . . ,
1912
1 9 1 3 . . . . .
1 9 1 4 . . . . .
1915
1916.
. . . .
1917.
. . . .
1 9 1 8 . . . . .
1919
1920
1921.
. . . .
1922.
. . . .
1 9 2 3 . . . . .
1924
1 9 2 5 . . . . .
1 9 2 6 . . . . .
1927
1928.
. . . .
1929.
. . . .
*
1 9 3 0 . . . . .
1932
1933
. . . .
1 9 3 5 . . . . .
1936
1 9 3 7 . . . . .
1938
1939.
9»386
2 3 f 8 4 2
. . . .
1940
1 9 4 1 . . . . .
1942
1946
1 9 4 7 . . . . .
28
5
26
1
1
1
1 9 4 8 . . . . .
29
4
26
6
1
2
1949.
29
5
27
9
1
3
1 9 5 0 . . . . .
31
0
28
8
1
4
1 9 5 1 . . . . .
31
3
34
8
1
3
1952.
. . . .
. . . .
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
..•
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
682
647
1,618
1,824
1,408
2 , 4 1 3
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
174
201
1,298
366
517
853
347
392
1,748
1,399
510
564
2 , 2 1 2
1,685
1,333
562
612
2 , 2 7 3
1,878
1,179
569
685
2 , 3 2 1
1,927
1,322
615
782
781
2,
300
2 4 , 5 6 9
2 , 5 0 6
2 5 , 6 6 8
2 , 7 1 8
2 6 , 3 2 5
2 , 8 4 0
3 0 , 5 9 1
3 , 3 4 0
1 8 , 6 0 1
2 , 7 4 5
370
1,525
1,370
524
322
606
1 4 , 0 0 8
2 , 4 1 3
250
1 , 3 4 2
826
379
193
518
1 8 , 5 5 3
2 , 8 0 4
284
1 , 4 6 1
1,123
542
274
636
2 5 , 1 7 4
3 , 3 7 1
325
1 , 7 8 6
1,245
714
424
863
2 4 , 4 8 7
3 , 4 8 5
350
1,818
1,386
731
418
888
.. ..
1 9 4 4 . . . . .
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
2,
1943
1 9 4 5 . . . . .
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
17,253
•
1 9 3 1 . . . . .
1934.
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
7 4 , 2 9 0
9,
7 5 , 3 6 7
120
116
...
...
...
...
...
...
...
...
...
...
...
...
...
^ .
...
...
...
...
...
...
...
...
...
...
...
...
....• .
...
641
5 , 3 2 3
4 , 4 4 0
2 , 5 2 0
1,346
2,913
9 , 4 2 6
779
4 , 7 4 1
4 , 2 4 5
2 , 2 8 4
1,412
2,777
8 9 , 7 5 0
10,104
806
5 , 6 4 2
4,
3,166
1,667
3 , 4 3 8
1 0 2 , 0 8 6
10,579
856
5 , 4 2 1
4 , 6 9 9
3 , 5 2 3
1,804
4 , 1 8 0
176
32
0
37
2
1
3
1 0 9 , 1 6 2
1 1 , 3 4 0
868
5 , 2 5 7
4 , 8 4 9
3 , 4 4 9
1,904
3 , 8 8 3
33
3
37
0
1
4
1 2 1 , 6 5 9
11,938
987
5 , 4 1 2
5 , 4 1 5
3 , 5 0 1
2 , 0 4 7
4 , 4 6 3
1954
33
9
36
6
1
6
117,032
13,398
1,004
4 , 7 0 9
5,
3 , 2 4 2
1,998
4 , 6 3 0
1955
35
8
36
6
1
8
1 3 5 , 0 2 3
1 4 , 7 9 0
1,083
5 , 3 1 2
5 , 6 5 0
3,744
2 , 3 0 6
5 , 1 4 1
1956
38
2
37
2
2
0
1 4 4 , 9 0 9
15,939
1,
5 , 4 5 6
5 , 9 7 3
3,817
2 , 5 1 0
5,610
1957
39
5
37
9
2
2
1 4 7 , 8 3 8
16,347
1,246
5,
6 , 0 6 7
3,285
2,514
5,724
1958
40
4
38
0
2
2
141
17,685
1,413
4 , 8 5 8
6 , 0 1 1
3 , 1 8 3
2 , 3 5 4
5,707
1959
42
6
38
6
2
3
1 6 1 , 3 1 5
18,614
1,480
5 , 6 8 5
6 , 5 0 5
3,765
2 , 6 1 1
6 , 4 4 1
1960
44
7
39
7
2
3
164,003
19,692
1,546
5 , 6 6 9
6 , 6 1 7
3 , 4 5 6
2 , 6 1 5
6,554
1961
46
4
40
7
3
0
1 6 4 , 1 7 9
2 0 , 1 0 5
1,590
5 , 6 3 0
6 , 7 2 6
3,376
2 , 5 5 4
6,660
1962
48
5
42
7
3
3
1 7 9 , 2 9 0
2 0 , 8 5 6
1,645
6 , 0 9 8
7,
3 , 6 0 6
2 , 8 3 8
7,044
1963
50
3
43
7
2 1 , 8 2 5
1 , 6 8 1
6,
-
.. .
1 9 1 , 9 1 1
1964
1953
1965
.
•
.
•
•
3
3
,500
...
2 0 5 , 9 6 3
...
2 3 , 0 5 5
173
...
1,722
6,
197
121
...
736
166
151
7 , 8 5 9
8,
...
150
4 , 0 2 1
...
4 , 3 6 1
3 , 0 6 8
...
3 , 2 2 5
.
7,396
...
7,805
ro
ro
09
Series C256to C266
CO
O
o
Value added by manufacture: Census (Millions of dollars)
Year
C256. Printing and C257. Chemipublishing
cals and allied
products
C259. Rubber
and plastics
products
C258. Petroleum and coal
products
C260. Leather
and leather
products
C262. Primary C263. Fabricated C264. Ma^
C261. Stone,
C265. Electriclay, and glass metal industries metal products
chinery, except cal machinery
products
electrical
C266. Transportation equipment
I
o
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900
1901.....
1902.....
1903.....
1904.....
1905.....
1906. . . . .
1907
1908.....
1909
300
...
...
...
...
...
...
...
...
424
519
212
...
...
...
...
...
...
...
286
'. .
.
401
37
40
187
57
...
...
.. .
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
76
185
...
...
...
...
...
...
44
68
246
271
80
75
325
352
121
1910
1911
1912....1913
1914
1915.
1916
1917
1918
1919
1920
1921
1922.
1923
1924
1925
1926.
1927
1928
1929.....
1930
1931
1932.....
1933.....
1934.
1935
1936.....
1937.....
1938.....
1939.
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
627
...
...
...
...
...
...
...
...
. «.
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
457
112
• ••
138
•• •
353
• ••
379
• ••
• •
• •
• •
• •
• •
• •
• •
« •
•
•
•
•
•
•
• •
•
•
« «
•
•
•
•
«
•
201
•
•
1,091
1 , 198
511
• *•
544
•••
898
•••
680
••«
672
•••
1,306
834
430
• ••
327
•• •
610
• •
605
«••
547
•«•
1,527
1 , 184
562
• ••
457
•••
79
• •
990
•••
806
•••
1,757
1,320
635
• ••
539
•••
75
1,042
940
•••
1,936
1,474
543
• ••
565
•••
78
• •
1,023
•••
1,049
•••
2,233
1,737
829
• ••
539
•••
77
••
1,054
1,389
•••
1,768
1,359
432
• ••
361
«• •
52
••
616
1,245
1,547
...
...
...
...
...
...
...
...
...
1, 121
1,363
• mm
• •
763
• ••
•
395
• ••
261
•••
452
•••
404
471
• ••
309
«• •
530
•«
600
404
•••
m m m
686
m m m
...
...
...
...
...
...
...
...
....... ••
...
...
...
1,785
1,732
638
• ••
369
•• •
58
860
• •«
2,520
1,389
2,366
1 , 102
1,986
1,765
1,819
697
406
58
856
2 , 169
1,401
2,037
941
1,773
1940
1941
1942
1943
1944
1945.....
1946.....
1947
1948
1949
4,249
5,317
1,991
1,299
1,53
2,299
•••
5,733
4,920
7,834
3,860
5,842
4,659
5 , 848
1,744
1,195
1,38
2,451
5,710
...
4,834
7,689
3,902
7,054
1950
1951
1952. . . . .
1953
1954
1955
1956
1957.....
1958
1959
4,907
5,289
5,660
5,916
6,403
6,938
7,547
7,912
7,939
8,752
7,237
8 , 165
8,539
9,320
9 , 547
11,108
11,894
12,373
12,273
14,282
139
687
619
795
241
793
3,318
3,249
2,518
2,894
1 ,620
1 ,729
1 ,744
2 ,021
1 ,954
2 ,377
2 ,418
2 ,462
3 ,277
3 ,793
1,499
1,475
1,597
1,711
1,641
1,778
1,882
1,892
1,898
2,121
3 , 138
3,561
3,531
3,753
3,866
4,637
5,036
4,980
5,535
6,512
7,951
9,761
9,051
11,004
9,772
12,963
13,848
13,320
11,671
13,635
6,211
7 , 139
7,168
8,144
7,653
8,775
9,244
9,544
9,423
10,445
8,765
11,219
12,807
13,381
12,333
13,753
16,176
15,972
12,393
14,549
4,815
5,753
6,873
7,876
7,300
8,002
9,112
9,620
10,395
12,527
8,547
9,789
12,042
14,534
13,428
17,071
16,633
18,492
15,285
18,037
1960
1961.....
1962
1963
1964
1965
9,306
9,516
9,996
10,476
11,065
14,347
14,752
16,062
17,586
1 9 , 133
3,308
3,382
3,439
3,713
3,774
3 ,773
3 ,916
4 ,316
4 ,654
4 ,984
2,044
2,041
2 , 102
2,079
2,270
6,394
6,304
6,605
7,044
7,520
13,350
12,906
13,744
15,068
16,732
10,320
10,284
11,119
11,796
12,636
14,383
14,215
16,068
17,311
19,763
13,064
13,702
15,594
17,011
18,040
18,427
17,530
20,946
22,766
23,961
f>o
C
DigitizedaJfor FRASER
...
...
..«
...
...
...
...
.•.
...
...
...
...
Series C267 to C277
Year
C267. Value added by manufacture: Censusinstruments and
related products
(Millions or
dollars)
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
C268. All manufacturing
C269. Manufactured food
products
C270. Alcoholic C271. Tobacco
beverages
products
C272. Textiles
and products
C273. Lumber
C274. Furniture C275. Paper
and paper
products
C276. Printing
and publishing
C277. Chemicals
o
S
1860.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
o
Indexes of production for major industry groups: FR (1935-39=100)
32
46
73
1910,
191U
19121913.
1914,
19151916.
1917.
191B.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1936.
193 7 .
1938.
1939.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
• •
• •
•
•
236
• ••
189
• ••
245
• ••
263
•••
274
301
• ••
201
142
200
• •«
298
333
1 , 140
1 , 123
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1,389
1,60 8
1,995
2 , 169
2,129
2,367
2,690
2,872
2,906
3,506
1960.
1961.
1962.
1963.
1964.
1965.
3,819
3,892
4,303
3,992
4,333
N3
CD
98
•••
72
77
72
74
56
74
86
81
90
95
94
99
110
69
68
77
82
81
85
87
88
93
101
75
74
77
84
83
85
88
90
92
96
67
69
79
83
72
84
84
92
87
94
145
169
163
169
164
153
151
152
99
00
12
20
26
24
L35
58
61
66
72
74
79
85
4
79
84
92
93
96
104
57
56
63
70
73
76
89
90
74
57
68
74
87
104
113
87
109
100
90
79
83
88
89
98
103
101
108
74
89
09
108
96
98
93
87
79
80
87
90
99
103
102
106
74
79
71
88
76
93
104
106
85
112
110
74
49
64
65
86
105
111
92
106
95
78
54
60
61
83
106
117
87
107
79
74
65
76
75
86
98
107
95
114
97
88
74
75
80
89
99
109
96
106
87
78
68
76
83
89
99
112
96
104
126
168
212
258
2 52
214
177
194
198
183
113
127
134
145
152
150
149
157
159
163
101
117
118
117
144
178
191
190
182
172
109
120
131
133
125
136
156
160
164
165
114
152
157
153
148
146
162
163
170
147
115
129
130
119
115
198
122
132
134
119
118
145
142
149
144
133
147
165
168
152
123
150
142
139
139
139
145
158
164
156
112
127
115
111
101
108
127
144
154
155
130
176
278
384
324
284
236
251
254
241
209
229
230
248
164
165
164
164
188
186
160
165
168
175
180
178
182
11A
161
162
148
148
141
147
183
176
178
183
187
201
189
207
264
299
302
319
K)
00
Series C300 toC306,D1toD4
Indexes of production for major industry groups: FR (1935-39=100)
Year
C278. Petroleum C279. Rubber
and coal products products
C280. Leather
and products
C281. Stone,
clay, and glass
products
C282. Iron and
steel products
C283. Nonferrous metals
and products
Indexes of production for major industry
groups: FR (1957-59 = 100)
C284. Machinery C285. Transpor- C286. All man- C287. Food and C288. Tobacco
tation equipment ufacturing
beverages
products
o
CD
o
1917,
1918.
1919,
94
50
84
86
82
1C2
48
85
109
90
1C8
115
108
121
133
81
88
80
83
98
100
90
94
93
95
61
58
73
87
91
101
105
106
110
110
89
80
69
74
79
85
97
108
100
110
78
72
64
77
86
93
107
104
83
113
84
82
76
88
91
99
103
102
93
105
96
77
51
54
64
77
103
114
92
114
97
61
32
54
61
81
114
123
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
120
135
147
185
247
236
173
193
218
209
123
163
172
228
234
215
225
226
206
183
98
123
122
114
113
117
122
116
111
106
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
229
267
270
292
223
243
248
26
111
101
10,6
107
1920.
19211922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
56
59
69
76
78
87
96
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1960.
1961.
1962.
1963.
1964.
1965.
63
66
93
99
86
90
93
104
113
108
118
136
86
8
89
102
99
106
130
110
9
106
109
89
108
134
100
114
106
83
52
60
62
80
104
122
80
113
43
50
69
83
105
126
82
104
91
62
38
48
69
93
110
123
72
103
124
162
168
173
164
163
192
206
206
188
147
186
199
208
206
183
150
195
208
188
139
191
214
267
259
204
157
187
193
160
136
221
340
443
439
343
240
276
277
234
145
245
464
735
719
487
232
230
235
235
209
231
220
228
229
259
243
276
206
207
222
245
270
336
356
39
26
30
338
9
68
66
66
68
65
80.4
79.6
80.5
75
81
85
92
83.4
85.0
86
90.1
93.5
97.1
97.0
99.3
103.8
97
100
100
93
106
108
109
118
124
133
144
86.8
88.1
106.6
110.2
113.5
116.9
81.6
83.7
83.0
84.1
89.1
92.1
90.1
86.3
88.3
90.6
94.4
100.3
105.3
107.4
110.6
112.0
115.2
120.8
120.8
123.3
120.5
Series C300 toC306,D1toD4
Indexes of production for major industry groups: FR (1957-59=100)
Year
C289. Textile mill C290. Apparel
products
products
C291. Lumber
and products
C292. Furniture
and fixtures
C293. Paper and C294. Printing
products
and publishing
C295. Chemicals C296. Petroleum C297. Rubber
and products
products
and plastics
products
C298. Leather
and products
C299. Clay,
glass, and stone
products
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
19271928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
85.0
90.8
84.0
74.1
77.3
76.6
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
95.6
94.6
93.8
95.7
89.5
98.9
100.4
96.5
94.3
109.2
82.4
80.9
85.1
108.2
1960.
1961.
1962.
1963.
1964.
1965.
105.0
107.1
115.3
116.9
122.9
134.8
111.9
112.1
118.9
125.6
134. 1
145.0
86.6
83.7
91.9
95.6
96.6
95.3
88.2
91.8
81.0
98.4
98.2
96.9
102.4
99.6
109.5
105.4
95.9
95.6
108.5
102.1
101.3
106.1
108.9
112.6
117.4
67.6
70. 1
64. 8
62.4
64. 1
61.3
69.7
73.3
75.2
79. 1
74. 7
76.8
80. 3
83.7
95. 1
98.2
96.5
92.7
73.8
78.2
74.5
80.2
80.0
81.1
78.7
110.8
92.5
96.9
96.2
97.2
106.7
83.7
87.1
92.5
97.3
99.0
96.9
104.2
115. 5
115.3
126. 7
133. 1
143.4
157.4
107.7
113.7
119.7
125. 1
133.4
142.3
111.5
114.6
116.4
123.3
130.3
82.0
110.0
41.5
44.9
44.3
62.9
56.2
57.0
53.8
55.4
72.7
81.3
83.3
68. 1
66.0
65.6
71.0
70.8
82.7
89. 1
94.4
95.8
109.8
87.5
94.0
98.7
98.6
97.4
103.9
69.7
71.2
73.1
78.4
76.9
95.3
93.0
97.1
92.2
110.7
116.6
123.4
136. 1
148.6
159.6
173.3
106.5
108.7
112.9
117.1
121.0
123.4
111.9
130.6
140.0
156.3
172.2
62.8
88.2
111.0
92.8
88.4
84. 1
67.0
71.3
66.5
91.0
85.3
90.8
91.1
90.2
98.0
99.8
80.5
88.9
85.0
87.1
83.8
95.6
9 9 . 2
96.0
104.7
99.6
100. 1
102.3
99.8
102.6
107.8
100.1
98.4
93.2
108.4
107.8
106.4
111.1
117.5
126.0
133.5
K)
00
Series C300 to C306, D1 to D4
CO
o
Gross national product for countries: Maddison (Index: 1913 = 100)
Indexes of production for major industry groups: FR (1957-59=100)
Year
C300. Primary
metals
^ C301. Fabricated metal
products
C302. Nonelec- C303. Electric
trical machinery machinery
C304. Transpor- C305. Instrutation equipment ments and related products
C306. Miscellaneous manufactures
Dl. United
States
D2. Japan
D3. West
Germany
D4. United
Kingdom
I
o
1860.
1861.
1862.
::
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1861.
1882.
32.7
30.4
30.2
32.3
33.7
36.2
36.4
36.2
36.0
37.7
36.8
40.3
41.7
40.9
43.8
46.7
46.3
46.6
46.7
47.9
46.2
36.5
37.4
38.0
40.1
41.1
42. I
42.4
44.1
45.9
47.2
46.5
50.5
53.4
54.5
54.7
56.7
58.6
60.7
64.6
68.7
71.3
70.7
70.0
1889.
38.7
37.1
34.3
32.8
30.9
29.1
35.0
42.0
40.3
40.8
39.3
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
41.5
43.3
47.5
45.2
44.0
49.2
48.2
52.8
53.9
58.8
47.8
45.4
47.4
48.7
57.8
55.9
52.4
54.3
70.1
65.2
48.7
48.6
50.6
53.1
54.4
57.0
59.0
60.7
63.3
65.6
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
60.4
67.2
67.9
71.2
70.3
75.5
84.2
85.5
78.5
66.6
68.4
70.7
62.4
70.8
71.2
65.0
75.8
80.4
84.8
84.2
68.4
72.2
75.1
76. 7
79.0
82.5
83.9
85.6
1883.
1884.
1885.
1886.
1887.
1888.
88. 1
66.8
68.2
74.7
80.3
80.5
82.0
84.2
90.0
88.5
89.7
90.7
88.6
89.4
91.7
93.2
93.2
87.6
91.0
S
1910,
1911.
191219131914.
1915.
1916.
1917.
1918.
1919.
89.0
91.9
96.2
100.0
92.3
94.9
108.0
105.3
114.8
115.8
81.7
93.3
100.9
100.0
101.5
103.3
114.0
117.6
134.2
159.4
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
114.5
126.0
127.6
129.6
143.3
158.4
171.2
172.8
174.1
181.7
185.3
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
149.1
140.8
120.9
117.7
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
112.0
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
99
108
99
112
91
118
I 16
112
87
100
9
7
3
5
3
4
1960.
1961.
1962.
1963.
1964.
1965.
101
98
104
113
129
137
r>o
75 9
77 2
69 8
78 6
79 0
67 4
51 1
53 0
49 7
42 9
46 9
47 1
53 7
55 2
49 2
79 4
84 8
78 6
100.0
98.9
102.
106.
106.2
187.9
195.8
216.9
104.9
96.7
89.5
94.9
103.4
103.8
103.9
104.2
114.2
144.7
159.7
172.6
163.3
175.8
222.1
112.8
229.1
283.4
292.9
295.4
122.5
136.4
149.9
191.7
219.8
245.2
270.0
291.2
287.1
262.5
259.9
273.9
270.1
277.7
282.2
285.9
285.1
275.6
128.0
7
94 3
79 4
100.
94.4
96.6
97.1
92.8
93.3
96.1
98.4
105.3
98.7
107.4
110.0
112.7
118.3
133.8
138.0
141.3
150.6
152.2
154.0
163.4
90
88.
91.
95.
180.2
186.2
164.6
184.3
192.9
90.
92.
110.9
128.9
4
2
0
3
2
3
8
5
9
5
75
96
104
107
91
98
110
106
87
105
6
1
3
6
8
6
0
4
9
7
68
68
78
90
82
93
103
101
90
108
1
5
3
9
5
7
3
1
0
8
56
62
73
91
83
102
97
106
89
104
4
9
1
7
8
0
4
4
5
0
57
65
78
85
82
88
95
98
92
109
3
7
1
3
9
7
4
0
1
9
88
85
88
99
90
100
103
98
94
107
5
7
2
4
0
7
8
7
0
2
296.6
320.5
330.5
345.0
340.3
366.2
372.8
378.5
375.0
398.3
209.9
236.2
263.5
284.5
297.2
325.0
349.2
382.5
381.7
451.7
157.3
174.4
190.2
205.2
219.8
245.8
2
5
4
85
91
89
100
90
98
98
101
92
105
3
9
6
3
1
5
107
106
117
123
132
147
6
5
1
4
7
8
108
106
119
126
142
160
8
5
7
9
1
3
113
115
128
132
14C
160
6
7
5
3
6
6
108
103
118
127
130
149
2
6
3
0
7
2
116
115
123
130
136
151
5
8
0
2
4
4
111
112
122
125
133
146
2
8
2
0
4
0
408.0
416.4
443.4
460.1
483.3
513.0
604.2
641.5
694.7
790.6
333.7
351.6
366.3
378.0
402.7
262.8
277.6
286.5
306.6
111.8
118.1
122.0
128.3
132.5
149.2
143.2
148.7
153.3
158.3
162.0
161.3
168.8
175.4
180.3
184.3
188.0
189.3
197.4
206.8
213.B
216. 1
226. 1
237.8
s
Series D5to D15
Gross national product for countries:
Maddison (Index: 1913=100)
D5. France
D6. Italy
D7- Canada
Year
Gross national product for countries: OECD
D8. United
States
(Billions of
1958 dollars)
D9. Japan
(Billions of
1958 yen)
DIO. West
Germany
(Billions of
1958 DM)
D l l . United
Kingdom
(Millions of
1958 pounds
sterling)
D12. France
(Billions of
1958 francs)
D13. Italy
(Billions of
1958 lire)
D14. Canada
(Millions of
1958 dollars)
D15. Employment: Maddi sonUnited States
(Index:
1913=100)
1860,
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
51.1
1880.
57*
1881.
1882.
20.1
20.7
17.4
19.2
23.1
22.3
22.5
23.1
22.7
60.2
29.6
33.6
33.4
32.8
36.1
40.0
36.1
36.1
38.0
37.1
47.6
38.0
44.3
43.3
42.1
41.9
44.1
48.4
42.0
49.8
47.7
61.6
70.4
76.8
73.6
49.9
54.8
58.8
60.5
75.
7 9.1
83.3
83.5
61.6
57.7
58.7
58.8
58.1
58.6
60.9
60.1
59.9
57.6
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
72.2
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
87.
54.8
53.2
53.0
54.5
54.8
57.0
5 7.4
57.4
57.5
56.5
62.6
65.4
62.5
63.4
65.3
63.6
63.7
62.1
65.7
69.8
80.0
88.6
89.7
92.3
37,
26.6
66.3
70.1
70.4
73.4
81.7
o
I
o
1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
cn
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
87.5
96.7
96.2
100.
100.0
100.0
99.0
93.9
96.8
110.1
120.5
117.2
126.6
111.9
77.6
71.8
83.3
90.5
92.2
106.6
88.2
108.9
113.4
101.1
103.3
104.2
109.1
103.7
94.3
101.9
108.3
108.1
95.3
116.6
110.6
110.6
122.1
112.8
116.5
122.9
111.8
122.1
130.6
130.4
132.9
122.7
133.9
146.4
146.7
118.8
129.4
123.5
115.3
115.3
112.9
108.2
107. 1
110.6
109.4
117.2
125.7
127.4
132.7
132.0
131.0
144.1
145.3
154.2
153.8
164.0
154.3
150.5
143.1
100.c
129.0
140.6
122.6
110.1
103.0
115.4
124.4
129.9
142.8
143.7
154.4
120.
176.7
202.2
107.7
120.9
93.3
75.4
119.9
135.7
145.9
153.4
240.0
248.7
257.9
251.9
247.0
250.1
254.8
264.7
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
130.3
138.2
141.6
146.0
153.0
161.9
170. 1
180.3
184.9
190.4
163.6
175.8
181.4
194.6
204.6
217.9
227.1
241.0
251.7
270.1
282.9
300.1
324.2
336.6
326.2
354.8
385.6
390.4
395.5
408.7
444 4
452 4
459 3
455 0
483 3
8,490 7
9tl24 8
9,993 4
9,972 9
11,800 5
198
212
224
231
247
60
30
30
50
70
21,960
22,447
22,893
23,054
24,044
212
223
236
244
252
42
11
46
71
06
14,818
15,441
16,386
17,114
18,367
29,521
32,088
32,482
32,906
34,008
1960.
1961.
1962.
1963.
1964.
1965.
204.5
213.4
228.5
239.3
252.4
288.4
312.4
332.2
349.6
360.0
418.7
429.2
457.8
479.0
510.1
495 1
505 3
538 1
558 3
586 5
13,402 7
15,787 0
16,759 7
18,149 9
20,654 3
286
301
314
324
345
30
70
30
30
50
25,185
26,036
26,312
27,535
28,955
270
282
302
316
334
68
55
50
82
12
19,607
21,243
22,586
23,774
24,476
34,842
35,714
38,090
39,858
42,443
128.8
165.4
..
..
..
...
.. .
...
...
Series D16 to D26
o
Employment for countries: Maddison (Index: 1913=100)
D16. Germany
D17. United
Kingdom
D18. France
D19. Italy
Employment for countries: OECD (Thousands)
D20. Canada
Year
D21. United
States
D22. Japan
D23. Germany
D24. United
Kingdom
D25. France
D26. Italy
I
o
I860,
1B61.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
62.6
92.
77.
40.8
63.9
69.3
93.2
83.0
50.2
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
69.7
76.4
95.
87.3
58.4
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
80.0
87.5
97.7
91.
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
59.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1
66.9
1910.
1911,
1912.
1913,
1914.
1915.
1916,
1917,
19181919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
19 3 2 ,
1933.
1934.
1935.
1936.
1937.
19381939.
100.(
100
100.(
110.1
105
122.
126.8
IOC
100
95.7
105 2
131
110
87.
105
138
11
89.2
89.5
89.7
89.7
90.0
105
166
1940.
1941.
1942.
1943.
1944.
194 5 .
1946.
1947.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
11
20,365
20,895
21,290
59,748
60,785
61,034
61,945
60,890
62,943
64,708
65,011
63,966
65,581
39,360
39,890
41,190
41,970
43,030
43,240
43,680
66,681
66,796
67,846
68,809
70,357
44,610
45,180
45,740
46,130
46,730
•
•
.
...
22,380
23,210
23,790
24,213
24,354
24,559
22,539
22,761
22,647
22,771
23,192
23,527
23,753
23,845
23,685
23,730
18,702
18,727
18,735
18,819
18,787
18,656
18,569
19,335
18,923
19,643
20,135
19,987
25,954
26,248
26,382
26,455
26,523
24,182
24,490
24,706
24,728
25,007
18,642
18,644
18,715
19,037
19,251
20,002
20,018
19,790
19,475
19,389
21,800
« •
.
...
..•
...
Series D27 and D41 to D50
D27. Employment:
OECD-Canada
D4L United
States
Year
o
Population for countries: Maddison (Index: 1913=100)
D42. Germany
D43. United
Kingdom
D44. France
Population for countries: OECD (Thousands)
D45. Italy
D46. Canada
(Thousands)
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
68.
92.
75.4
47.2
67.3
75.9
94.2
80.
55.4
64.9
73.5
82.0
96.5
85.
62.0
78.3
79.8
81.4
82.9
84.5
83.7
84.9
90.2
91.0
91.8
92.6
93. 5
9A.3
95. 1
96.0
96.8
97.6
97.8
98.0
98.2
98.4
98.5
98.6
98.7
98.7
99.0
99.1
91.8
92.3
92.8
93.2
93.7
94.2
94.6
95.2
95.7
96.8
68.9
70.0
71.8
74.0
76.2
77.9
1870.
1871.
1872.
1873.
1874.
1875».
1876.
1877.
1878.
1879.
41.0
1880.
1881.
1882.
51.7
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
86.2
87.9
89.5
91.2
93.1
86.2
87.5
88.8
90.1
91.3
92.6
93.9
95.1
80.8
84. 1
86.5
88.9
D47. United
States
D48. Japan
D49. Germany^
D50. United
Kingdom
1910.
9 5 . 0
9 6 . 4
9 8 , 5
9 9 . 4
9 7 . 7
9 1 . 5
1911.
9 6 . 5
9 7 . 6
9 9 . 3
9 9 . 6
9 8 . 6
9 4 . 0
1912.
9 8 . 0
9 8 . 8
1913.
100.0
100.0
1920.
109.5
100.9
1921.
111.6
1922.
113.2
102.0
102.6
1923.
115.1
103.2
1924.
117.4
103.9
1925.
119.1
1926.
120.7
1927.
122.4
1928.
1929.
9 9 . 7
9 9 . 7
9 9 . 5
9 6 . 8
100.0
100.0
100.0
100.0
1914.
1915.
1916.
1917.
1918.
1919.
9 3 . 5
1 0 2 . 1
94. 1
102.9
114.0
9 4 . 5
103.9
1 1 5 . 4
9 5 . 6
104.7
116.9
1 0 5 . 2
9 6 . 6
105.5
118.7
104.7
105.4
9 7 . 3
1 0 6 . 4
120.7
105.4
1 0 5 . 9
9 8 . 6
107.3
122.9
106.1
106.2
9 8 . 1
108.3
125.4
123.9
106.7
106.
9 8 . 4
109.3
127.9
125.2
107.3
106.9
9 8 . 8
110.3
1 3 0 . 3
1930.
126.7
107.8
107.3
9 9 . 7
111.2
1931.
127.7
108.4
107.8
100.3
112.2
1932.
128.5
108.9
108.4
100.3
113.1
1 3 6 . 1
1933.
129.3
109.4
108.9
100.4
114.1
137.6
1934.
130. 1
110.0
1C9.2
100.6
115.0
138.9
1935.
1 3 U 0
110.8
109.7
100.5
116.0
1 4 0 . 3
1 4 1 . 5
J
132.5
1 3 4 . 5
1936.
131.8
111.6
110.2
100.5
116.9
1937.
132.6
112.4
1 1 0 . 7
100.5
117.7
1 4 2 . 8
1938.
133.7
113.4
111.
100.6
118.6
144. 3
156.0
136.6
117.8
100.0
128.6
171.8
1939.
1940.
1941.
19421943.
1944.
1945.
1946.
1947.
1948.
1949.
1950.
4 , 9 7 6
1 5 2 , 2 7 1
8 2 , 9 0 0
4 7 , 8 5 0
1951.
5 , 0 9 7
154,878
8 4 , 3 0 0
4 8 , 3 6 5
50,574
1952.
5t
1 5 7 , 5 5 3
8 5 , 6 0 0
4 8 , 6 8 9
50,737
169
50,616
1953.
5 , 2 3 5
160,184
8 6 , 7 6 0
4 9 , 1 4 2
50,880
1954.
5 , 2 4 3
163,026
8 8 , 0 3 0
5 1 , 8 8 0
51,066
1955.
5 , 3 6 4
1 6 5 , 9 3 1
8 9 , 0 6 0
5 2 , 3 8 2
51,221
1956.
5 , 5 8 5
1 6 8 , 9 0 3
8 9 , 9 8 0
5 3 , 0 0 8
51,430
1957.
5 , 7 3 1
1 7 1 , 9 8 4
9 0 , 7 6 0
5 3 , 6 5 6
51,657
1958.
5 , 7 0 6
174,882
9 1 , 5 8 0
5 4 , 2 9 2
51,870
1959.
5 , 8 7 0
1 7 7 , 8 3 0
9 2 , 4 6 0
5 4 , 8 7 6
52,157
1960.
5 , 9 6 5
180,684
9 3 , 2 6 0
5 5 , 4 3 3
52,539
1961.
6 , 0 5 5
183,756
9 4 , 0 9 0
5 6 , 1 7 5
52,941
1962.
6 , 2 2 5
1 8 6 , 6 5 6
9 4 , 9 8 0
5 6 , 9 3 8
53,458
1963.
6 , 3 7 5
1 8 9 , 4 1 7
9 5 , 9 4 0
5 7 , 5 8 7
53,797
1964.
6 , 6 0 9
192,
9 6 , 9 5 0
5 8 , 2 6 7
54,213
5 9 , 0 4 1
54,595
1965.
119
194,583
...
rvj
oi
CT>
Series D51 to D53
o
Population for countries: OECD (Thousands)
D51. France
D52. Italy
D53. Canada
Year
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
1932.
1933.
1934.
1935.
1936.
1937.
1938.
1939.
1
a
§
1
n
w
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
41,836
42,156
42,460
42,752
43,057
43,428
43,843
44,311
44,789
45,240
46,769
47,099
47,352
47,607
47,899
48,200
48,469
48,743
49,041
49,356
13,712
14,009
14,459
14,845
15,287
15,698
16,123
16,677
17,120
17,522
45,684
46,163
46,998
4-7,853
48,416
48,922
49,642
49,903
50,191
50,530
50,948
51,381
17,909
18,269
18,600
18,925
19,271
19,604
@FedFRASER