Full text of The National Income and Product Account : Fourth Quarter 1962

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BUSINESS STATISTICS
M. HE STATISTICS here update series published in the 1961 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1957 through 1960 (1951-60, for major
quarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and references
to sources of earlier figures. Series added or significantly revised after the 1961 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) and a dagger (f), respectively; certain revisions for 1960 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the July 1961 issue. Except as otherwise stated, the terms "unadjusted' 7 and "adjusted" refer to adjustment for seasonal
variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS

1960 | 1961 | 1962

1959

Annual total

IV

1961

1960
I

II

III

| IV

II

I

1962
III

I

IV

II

|

III | IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
bil $

415.5

427.8

457.5

403.9

413.9

417.2

416.6

414.4

411.8

424.3

431.3

444 0

448 9

456 7

459 8

do

293.7

302.2

321.6

283.0

290.6

294.6

295.8

293.9

294.1

300.2

304.5

309.9

315.2

321.7

323.8

325. 8

do
do ..
do
do
do
do __
do
do __
do
adjustbil $

271.3
222 9
9 9
38 5
22.4
46 2
34 2
12 0
11.9

278.8
227.0
10 2
41 6
23.4
47.8
34.8
13 1
12.3

295.8
239.7
11.0
45.2
25.8
49.8
36.8
13.0
12.8

262. 5
216. 5
9 8
36.1
20.6
45.9
35.1
10.8
11.9

268. 5
221.6
9 8
37.1
22.0
45.2
34.5
10 7
11.9

272. 2
224.4
9 8
38.0
22.3
46.9
34.5
12.4
11.9

273.3
224 9
9 9
39.1
22.5
46 3
34.1
12 2
11.9

271.3
221 6
10 0
39 7
22.6
46 5
33 8
12 7
12.0

271.2
220 8
10 0
40 4
22.9
46 5
33.7
12 8
12.0

276.9
225 8
10 0
41 2
23.2
47 2
34.5
12 7
12.2

281.0
228 8
10 0
49 2
23 5
48 1
35. 1
13 1
12 3

286.1
232 5
10 8
42 8
23 8
49 5
36 0
139 6
I 5

289.9
235 0
11 2
43 7
25 2
49 1
369 2
I9 9
I 6

295.9
240.1
11 2
44.6
25.8
49 5
36.8
12 8
12.8

297.8
241.4
10 9
45.5
25.9
49 7
37.0
12 8
12.9

299.7
242 2
10 6
46 9
26. 1
.50 9
37 3
13 6
12.9

45 6

45 5

51.0

46.0

48 6

46 2

44 4

43 3

40 1

45 0

46 0

51 1

50 4

50 7

51 0

do __
do.-_
do
do
do _
do

45 4
22.4
23 0
14.4
8.6
.2

45.6
22.3
23 3
15.0
8.3
.0

50. 9
24.8
26.0
15.9
10. 1
.2

45.3
22 0
23.3
14.2
9.0
.7

49.2
24.3
24 9
14.3
10.6
-.6

46.4
22.9
23.5
14.2
9.2
-.2

43.3
21.4
21.9
14.4
7.5
1.2

42 8
21. 1
21 7
14.5
7 1
.5

39 8
19.4
20 3
14.7
5.6
.3

44 8
21.9
22 9
14.8
81
.2

46 3
22.6
23 7
14.9
87
-.3

51 4
25 1
26 3
15.5
10 8
-3

50
24
9.5
15
9

1
4
g
8
9
3

50 9
24 9
26 1
15.8
10 3
—.2

51 1
24.9
26 1
15.8
10 3
—.1

do

18 1

20.0

22.2

17.0

17 6

17.7

18 2

18 8

19 1

19 8

20 3

21 0

21 5

22 0

22 5

do

503. 4

518.7

553. 9

488. 5

501.7

504.8

503. 7

503. 3

500.8

513.1

522.3

538. 6

545.0

552.0

555.3

563.5

Personal consumption expenditures, total.. do

328. 5

338.1

356.7

318.8

323.9

329. 9

329. 8

330. 5

330. 5

335.5

340.1

346.1

350.2

354.9

358.2

363.5

44 8
18 8
19.1
151 8
28 1
79 5
11 7
131 9
19 6
41 8
10 7

43 7
17 2
19.3
155 2
28 6
81 1
11 9
139 1
20 6
43 9
11 1

47.5
20. 1
19.9
162.0
30 0
84.7
12 5
147. 1
21 7
46.0
11 6

43 1
16 9
19.3
148 9
27 8
78 3
11 3
126 8
18 8
40 3
10 5

45 1
19 0
19.3
150 0
28 1
78 5
11 5
128 9
19 2
40 9
10 6

45 8
19 5
19.2
159 6
9g 3
79 9
11 6
131 5
19 6
41 7
10 6

44 5
18 3
19.1
152 5
28 4
79 5
11 7
132 8
19 7
42 2
10 6

44 0
18 3
18.7
152 3
27 8
80 2
11 9
134 2
20 0
42 6
10 7

40 8
15 4
18.4
153 5
28 1
80 3
11 9
136 2
20 2
43 1
10 9

43 5
16 9
19.2
153 9
28 0
80 6
11 7
138 0
20 6
43 6
10 9

44 0
16 9
19.7
156 2
29 0
81 5
11 9
139 9
20 7
44 1
11 1

46 6
19 4
19.8
157 2
°9 2
82 1
12 1
142 3
21 0
44 8
11 4

46 3
19 1
19.7
159 9
29 8
83 7
12 1
144 1
21 3
45 2
11 5

47 2
20 3
19.3
161 3
29 8
84 2
12 3
146 3
21 8
45 7
11 5

47 1
19 3
20.1
163 0
30 3
85 3
12 5
148 1
21 9
46 2
11 6

4Q Q

72.4

69.3

76.6

73.2

79.1

73.5

70.3

66.5

60.1

40
21
27
4
3

7
1
6
1
7

41 6
21.0
25 5
2 1
19

44 5
23.3
28.9
32
32

39 6
21.3
26 4
71
70

40
21
27
10
10

40
21
28
4
4

7
2
4
4
1

40 5
21 0
27 7
2 l
17

40 7
20 5
26 8
—1 1
15

2.9
26 4
23 5

4.0
27 3
23 3

3.3
28 4
25 2

.0
23 8
23 9

1.4
25 3
23 9

2.4
26 5
24 2

2.8
26 5
23 6

99.7
53.2
45 7
46 5

107.4
57. 0
49 0
50 4

117.3
62.4
53 4
55 0

96.5
52.8
46 1
43 7

97.2
52.5
45 4
44 7

99.0
53.1
45 8
45 Q

499 4
254. 1
95.0
159.2
188 6
56.7

516 6
257.2
94.0
163. 3
200 7
58.6

550 6
273.7
102. 9
170.8
214 8
62.1

481 4
245.7
91.9
153.8
181 3
54.4

490 8
251.3
94.0
157. 3
183 8
55.8

500 4
256. 2
96.9
159.3
187 7
56.4

Xational income, totalf
Compensation of employees, total
Wages and salaries, total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income totaled
Business and professionalcf
Farm
Rental income of persons
_
Corporate profits and inventory valuation
ment total
Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
_
Dividends .
.
Undistributed profits
Inventory valuation adjustment
Net interest
Gross national product, totalf-

Durable goods, total©
do
Automobiles and parts
do
Furniture and' hotisefhpkleq^pment- . -do
Nondurable goods, total©
do
Clothing and shoes
do
Food and alcoholic beverages
do _.
Gasoline and oil
do
Services, total ©
do
Household operation
do
Housing
do__
Transportation
do
Gross private domestic investment, total
New construction
Residential nonfarm..
Producers' durable equipment
Change in business inventories
Nonfarm

do

do
do
do
. _ do .
do

Net exports of goods and services.. _
Exports
Imports

do
do ._
do

Govt. purchases of goods and services, totaL.do
Federal (less Government sales)
do
National defense 9 do
State and local
do
By major type of product:*t
Final sales, total
Goods output, total
Durable goods
Nondurable goods
Services
Construction

do
..do
do
...do
do -do

9
5
4
8
6

16.4
.8
23 0

21 5
20.5
163 9
30 °
85 6
jo s;

150 1

99 n
46 S
11 S

67.6

72.4

76.6

75.9

77.4

76.3

76.2

3
0
4
6
9

41 0
20 1
24 6
2 1
18

42
21
25
4
3

43
22
27
6
5

41
21
27
6
6

44
23
28
4
3

5
3
9
0
9

46 1
24 3
29 2
10
10

45 0
93 s
2Q q
19
1 I

4.9
27 2
22 3

5.3
27 4
22 2

4.0
26 4
22 4

2.8
26 9
24 1

3.8
28 3
24 5

3.7
82
24 5

3.7
29 0
25 3

2.5
28 3
25 8

100.8
53.6
45 7
47 2

101.4
53.6
45 8
47 8

104.8
55.4
47 7
49 4

106.0
56.6
49 0
49 4

106.9
56.5
48 4
50 4

112.1
59.5
50 8
52 6

115. 2
61.9
53 0
53 3

116.0
62.1
53 2
54 0

118.2
62.7
54 0

501 5
254.9
94.8
160.1
189 9
56.8

504 4
254.1
94.2
160.0
193 1
57.2

504 4
251.6
90.2
161.4
195 9
56.8

511 0
254. 4
92.6
161.8
199 0
57.5

518 3
257.8
94.3
163. 5
201 3
59.2

532 6
265. 0
98.8
166.3
206 6
61.0

538 3
268. 2
99.9
168.4
211 1
59.0

547 9
272'. 6
102.6
170.0
213 5
61.8

554 2
274.7
103.0
171.7
215 9
63.6

39
19
24
—3
3

6
9
8
0
8

2
8
4
0
9

6
2
6
7
6

9

KC

3.2
28 2

OC f\

120.7
63.4
*\A 9

C

ecn O

279.2
106. 4
172. 8

91Q ^

63.7
4.1
Inventory change, total
do
2.1
3.2
7.1
2.1
4.4
10.8
-1.1
6.0
4.0
2.1
-3.6
4.0
6.7
1.0
1.2
.0
Durable goods
__
__ _ do
2 6
1.6
2.3
86
10
2 8
—3 3
—5 5
35
—1 3
34
35
19
19
4.5
Nondurable goods
do
2.1
1.6
2.2
1.8
2.' 2
1.1
1.6
2^5 1
3^4
3^1
2.2
!e
L9
-!9
2.0^
T
Revised.
f Re vised series. Estimates of national income and product and personal
cludes data not shown separately.
9 Government sales are not deducted,
*For quarterly
income have been revised back to 1959; revisions prior to May 1961 for personal income appear data back to 1947, see p. 35 of the July 1962 SURVEY.
on p. 13 of the July 1962 SURVEY.
cflncludes inventory valuation adjustment.
©In-


675824—63

SURVEY OF CURRENT BUSINESS

S-2
UnJess otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS

19BO

1961 |

1962

A n n u a l total

1961

I960
11

III

March 11)03

IV

II

1

1962
IV

III

I

II

1963
III

IV

I

II

18.48

-' 9. 89

GENERAL BUSINESS INDICATORS—Quarterly Series™Continued
N A T I O N A L INCOME AND PRODUCT— Con.f
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
C»ro^ national product total t
Ml $

440.2

447.9

471.9

442.3

439.7

437.7

433.9

443.9

450.4

463.4

467 4

470.8

471.6

477 7

Personal consumption expenditures, total.. do

298.3

304.3

318.2

299.7

299.1

298.8

298. 2

302. 5

306.0

310.6

313. 9

316.9

319. 0

322. 8

42. 2
141.4
114.7

41.6
143. 3
119.4

45.2
148.5
124. 5

43.0
142.3
114.5

41.8
141.9
115. 4

41.8
140.7
116.3

39.0
141.5
117.7

41.3
142.3
118.8

41.7
144 4
120. 0

44.4
144 9
121. 4

44.1
147 0
122.8

44.6
148. 1
124.1

44.6
149 5
125.0

47 6
149 3
126.0

Durable goods
"N"on durable goods
Cervices

do
do
do
do

60.7

57.8

63. 3

61.5

58.6

55.8

50.0

56. 5

60.4

64.1

63.3

64.1

62.4

62.8

Xew Construction

_.do

34.3
22.7

__do._ _

3.7

36. 5
23.8
2.9

34.2
23 3
4.0

34.0
22 7
1.9

34.3

Change In busine^ Inventories

34.8
21.1
2.0

-.7

33.0
20 1
-3.0

34.3
20 2
2.0

35.6
21 3
3 5

36.1
22 7
5.4

34.6
29 8
5.9

36.7
23 8
3. 7

37.7
24 0
.8

36.8
94 8
1.3

1.5

1.8

.5

1.0

1.5

3.3

3.5

1.7

7

14

13

.7

—.3

79.8
42.3
37.4

84.0
44.5
39.4

89.9
48.7
41.2

80.0
42.9
37.1

80.5
42.7
37.8

79.9
41.8
38. 1

82.2
42.9
39.2

83.3
44.4
38.9

83 3
44 1
39 2

87.2
46.7
40.5

88.9
48.3
40.6

89.2
48.6
40.6

90.5
49.0
41.5

91 6
49.3
42 3

400.8
51.4
349.4

416.4
52. 8
363.6

440. 5
57. 6
382.9

401. 4
51. 9
349. 6

403. 1
51.4
351. 7

403. 7
50. 9
352. 7

405. 4
51.0
354. 3

413. 5
52.5
361.0

419.4
53 0
366. 3

427. 3
54.6
372.6

432. 0
56.4
375. 6

439.5
57.7
381.8

442.6
58.5
384.1

448. 0
58 7
389.3

22. 0

22 2

23.8

25. 5

26. 3

26.5

25. 4

26.9

26.0

25.8

' 10. 18

Gro^ nrivate domestic Investment, total

"Vet exports of goods and service^

do

Government purchases of eood sand services total
bil $
Federal
_
do
>tate and local
do

99 9

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal Income, total
Le^' Personal tax and nontax pavments
"F quills' Disposable personal income

bil. $
do
do

Personal saving §

do

20. 9

25.6

26. 2

19.7

bil. $__

8.92

8.59

' 2 9. 33

9.28

8.98

9. 53

7.57

8.61

8.65

9.54

8.02

9.50

9.62

do
do
do

3.62
l.vSO
1.82

3.42
1. 57
I . 85

'3.67
' 1. 76
1.91

3.76
1.88
1.88

3.62
1.80
1.81

4.01
1.95
2. 06

3.00
1.41
1.59

3.46
1.58
1.88

3.34
1. 50
1.84

3.88
1.79
2.09

3.14
1.44
1.69

3.69
1.77
1.92

3.72
1.79
1.93

'3.37
'4.13
' 2. 03 ' 1. 65
'1.72
'2.10

3.90
1.80
2.04

Mining
Railroads
_
_.
Transportation, other than rail
Public utilities
.
Commercial and other

do
do
do
do
do

.25
.26
.48
1.42
2.89

.24
. 17
. 46
1.38
2.92

.27
.29
.55
1.42
2.99

.25
.24
.47
1.50
2.90

.24
.25
.46
1.58
2.99

.21
.17
.41
1.09
2.69

.26
.18
.48
1.39
2.85

.25
.16
.47
1.50
2.94

.26
. 16
. 50
1.54
3.20

.26
.16
.47
1.06
2.94

.27
.26
.60
1.37
3.30

.28
.24
.50
1.54
3.35

'.23
'.27
'.22
'.20
'.36
'.50
1.07
' 1. 52
' 3. 55 '3.22

27
.30
.51
1. 42
3.49

Sea,-, adj. qtrly. totals at annual rates:
\J3 ' n dustries

do

36.30

35. 90

35.50

33.85

33.50

34. 70

35. 40

35. 70

36.95

38. 35

' 37. 95 ' 1 37. 95

do

14. 70
7. 40
7. 30

14.65
7.35
7. 30

14.40
6. 85
7.55

13. 75
6.50
7. 25

13.50
6.20
7.30

13. 65
6. 10
7. 55

14.00
6.40
7. 60

14.20
0. 55
7. 00

14.45
6.95
7.50

15 05
7.25
7.80

' 15 00 ' 15 30 15 30
' 7. 50
' 7.30
7. 30
' 7 70 ' 7. 80
8 00

1.05
1.10
2. 1 5
5. 70
11 60

1.00
1.00
1.90
5. 60
11 75

.90
1.00
1.80
5. 70
11 65

.95
. 70
1 . 75
5. 35
11 30

1.00
. 70
1. 80
5. 50
11 05

1. 00
. 65
1.90
5. 05
11 X5

I. 00
60
1.95
5. 55
12 35

1.15
. 70
2. 05
5. 1 5
12 45

1.05
.95
2. 25
5.40
12 85

1.10
1 00
2.00
5. 75
13 40

' 1. 05
' 1.00
1.05
'.95
80
1 10
' 1.90
' 1.05
2. 00
5.30
' 5. 45
5. 60
'13 80 ' 13 70 13 70

4. 7SO

4,790

4, 800

4.810

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals or averages:
Ullndustries
'Manufacturing
Durable goods industries
Xon durable goods industries

__

Durable ^oods industries
Mlnin°-

do

Transportation, other than rail
Public utilities

do
do

T

27

'.21
r

. 52
'1.37
* 3. 29

2

38. 65

BUSINESS POPULATION
Firm? in operation, end of quarter (seasonally ad'u^ted)
thous

s 4, 058

34,713

3

4. 752

4,710

4. 720

4, 730

4, 740

4, 750

4, 700

4, 770

31, 317

31, 805

33, 245

7, 690

8, 000

8, 078

7, 090

7,411

8, 082

8, 022

' 8, 271 ' 8, 092 ' 8, 428

8, 454

do
clo
do

14,723
3. 048
5, 417

14, 514
2,947
5, 462

16, 193
3. 006
5, 800

3. 830
758
1,375

3, 004
797
1, 308

3, 422
722
1. 327

3. 309
770
1,309

3,417
750
1, 337

3,840
699
1, 388

3, 8K8
722
1, 428

<- 3. 933

4 051
'778
1,510

'Remittances and pensions
Govt grants and capital outflows

do
do

842
3, 405

878
4,051

924
4,271

205
833

211
826

222
978

221
902

221
804

210
1, 094

220
1,191

r
' 222
' 225
233
'• 1 , 035 '1,028 ' 1,063

~U "> private capital
Direct investments
L-onir-term portfolio
Short-term

do
do
do
do

3, 882
1, 694
850
1,338

3, 953
1, 475
1,006
1,472

3, 051
1,377
1,207
467

683
271
209
203

1, 134
415
170
549

1,407
0X4
235
488

1,059
457
120
482

870
209
218
389

845
429
194
222

1, 173
320
474
379

30, 073

32, 064

7, 055

7, 002

7, 062

7, 400

19,915
8. 151

20, 566
9, 248

4H7«
1. 909

4, 940
1,843

4, 9SO
1 975

5, 001
2, 008

4.768
2, 060

4,940
1.951

5, 146
2, 132

1, 275
975

147
123

172
47

147
-40

133
198

851
'251

81
'4

209
'280

-635

-998 -1,016

'-290

-140

-159

L.S. BALANCE OF I N T E R N A T I O N A L
PAYMENTS!

Quarterly Data are Seasonally Adjusted
U '? payments, recorded
mil $
Imports:
Merchandise
Military expenditures
O t h e r services

__

do-._

27, 984

Exports:
Merchandise
Services and military sales

do
do

19, 459
7, 554

Repayments on U S Govt loans
Foreign capital other than liquid funds

do
do

636
335

U,?- receipts, recorded

--- _

r

1, 274
' 733

E icess of recorded receipts or payments (—).- do _ _ . -3, 333 '•-1,732 -1,181
Unrecorded transactions

do

-592

••-628 -1,000

297

' 52

r

7, 930

r
957
' 231
r
402
' 324

'4,045
746
' 1,445

' 4, 164
730
' 1, 484

' 606
'401
' 299
'-94

' 762
'413
' 161
' 188

' 6, 976 ' 7, 767 ' 7, 686 ' 8, 022 ' 8, 153

'519 '-1,106
' 360

' 1,301

193

'5,072
' 2, 183
' 141
290

' 5, 340 5,170
'2,417 '2,216

'224
'41

^--

'-585

'-70

'—409

'90

'—144

r

'612
' 155

244
1. 145
726
332
345
49
8, 203

4,984
2,432
298
489

'-275

-251

r

—540

— 406

-3. 925 ••-2,360 -2, 1S1
— 775 -1,157 -1,313 '-342
' 159 '-913 '-1,264 '-495
'-214
'-791
Total, net receipts (+) or payments (— )
do
'-681
'Revised.
*> Preliminary.
is based on incomplete data.
1 Estimates for Jan.-Mar. 1963 based on anticipated capital expenditures of business.
t See corresponding note on p. S-l (revisions prior to 3d qtr. 1959 appear on p. 8 ft. of
2 Estimates for Apr.-Tune 1963 based OP anticipated capital expenditures of business.
the July 1962 SURVEY.)
Anticipated expenditures for the year 1963 are as follows (in bil. $): All industries, 39.10;
§ Personal saving is excess of disposable income over personal consumption expenditures
manufacturing, total, 15.69; durable goods industries, 7.78; nondurable goods industries,
shown as a component of gross national product on p. S-l.
J More complete details are given in the quarterly reviews in the Mar., June, Sept.,
mining, 1.01; railroads, .96; transportation, 1.84; public utilities, 5.66; commercial and
Digitized for 7.90:
FRASER
and Dec. issues of the SURVEY. Revisions prior to 4th qtr. 1959 will be shown later.
Other, 13.94.
http://fraser.stlouisfed.org/
3 Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1962

Federal Reserve Bank of St. Louis