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

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BUSINESS STATISTICS
JL 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 (t), 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" 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 j 1962

1959
IV

Annual total

1960
I

II

1961
III

IV

I

II

1962
III

IV

I

II

|

III

IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Xational income, totalf
Compensation of employees, total
Wages and salaries, total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, totaled 1
Business and professional of
Farm
Rental income of persons
Corporate profits and inventory valuation
ment, total
_
_

bil. $

415.5

427.8

' 458. 0

403.9

413.9

417.2

416.6

414.4

411.8

424.3

431.3

444.0

448.9

456.7

459.8

466.6

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

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
224.2
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
42.2
23.5
48.1
35.1
13.1
12.3

286.1
232. 5
10.8
42.8
23.8
49.5
36.0
13.6
12.5

289.9
235.0
11.2
43.7
25.2
49.1
36.2
12.9
12.6

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

'51.5

46.0

48.6

46.2

44.4

43.3

40.1

45.0

46.0

51.1

50.4

50.7

51.0

54.0

45.4
22.4
23.0
14.4
8.6
.2

45.6
22.3
23.3
15.0
8.3
.0

'51.3
r
25.0
'26.3
15.9
'10.3
.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
8.1
.2

46.3
22.6
23.7
14.9
8.7
-.3

51.4
25.1
26.3
15.5
10.8
-.3

50.1
24.4
25.6
15.8
9.9
.3

50.9
24.9
26.1
15.8
10.3
-.2

51.1
24.9
26.1
15.8
10.3

53.2
26.0
27.3
16.4
10.9
.8

do__.
do
do
do
do
do
do
do
do
adjustbil. $

Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax
__ __ do
Dividends
do
Undistributed profits
do
Inventory valuation adjustment
do
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

23.0

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
152.6
28.3
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
29.2
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

49.6
21.5
20.5
163.9
30.2
85.6
12.8
150. 1
22.0
46.8
11.8

do

72.4

69.3

76.6

73.2

79.1

73.5

70.3

66.5

60.1

67.6

72.4

76.6

75.9

77.4

76.3

76.2

do
do
do
do
do

40.7
21.1
27.6
4.1
3.7

41.6
21.0
25.5
2.1
1.9

44.5
23.3
28.9
3.2
3.2

39.6
21.3
26.4
7.1
7.0

40.9
21.5
27.4
10.8
10.6

40.7
21.2
28.4
4.4
4.1

40.5
21.0
27.7
2.1
1.7

40.7
20.5
26.8
-1.1
-1.5

39.3
19.0
24 .4
-3.6
-3.9

41.0
20.1
24.6
2.1
1.8

42.6
21.9
25.8
4.0
3.8

43.2
22.8
27.4
6.0
5.9

41.6
21.2
27.6
6.7
6.6

44.5
23.3
28.9
4.0
3.9

46.1
24.3
29.2
1.0
1.0

45.0
23.8
29.9
1.2
1.1

do
do
do

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

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
28.2
24.5

3.7
29.0
25.3

2.5
28.3
25.8

3.2
28.2
25.0

Govt. purchases of goods and services, total.. do
Federal (less Government sales)...
do
National defense 9
do
State and local
_ do

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
45.9

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
55.5

120.7
63.4
54.2
57.3

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

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

562.3
279.2
106.4
172.8
219.5
63.7

4.1
2.3
1.8

2.1
.0
2.1

2.1
2.1
4.4
—3. 6
4.0
-1.1
4.0
6.0
6.7
1.0
-5.5
-3.3
-1.3
2.8
3.4
3.5
3.5
1.9
2.2
3.4
1.6
2.2
1.9
3.1
.6
2.5
1.1
7
eludes d ata not s hown sej>arately.
9Goi ernmen t sales arc not ded ucted.
data ba ck to 194 7, see p. 35 of the July 1965} SURVEYr.

1.0
1.9
-.9

Net interest
Gross national product, totalf --

Durable goods, total ©
_
do
Automobiles and parts _ _ _
do _
Furniture and household equipment... -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
Net exports of goods and services
Exports
Imports

By major type of product:*t
Final sales, total
_
Goods output, total.
Durable goods
Nondurable goods..
Services
Construction
_
Inventory change, total
Durable goods
Nondurable goods

_- -

do
_ do _
do
_
do
do
do
__

do
do
__..do

3.2
7.1
10.8
2.6
1.6
S.6
4.5
2.2
1.6
r
Revised.
t Revised series. Estimates of na tional in come an(i product and peirsonal
income have been revised back to 1959; revisions prio r to May 1961 for ]aersonal income a poear
on p. 13 of the July 1962 SURVEY.
cf Includes in ventory valuatioii adjustinent.
©In-




1.2
-.8
2.0
*For qu arterly

S-l

SURVEY OF CUEEENT BUSINESS

S-2
1960

Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS

1961 1 1962

Annual total

1961

1960
II

III

April 1963

IV

I

II

1962
III

IV

I

II

1963
III

IV

I

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con. t
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
Gross national product, totalt
bil. $_

440.2

447.9

471.9

442.

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.

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.
148.
124.

43.
142.
114.

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
Nondurable goods
Services

do
do_ _
do. _

-

60.7

57.8

63.3

61.

58.6

55.8

50.0

56.5

60.4

64.1

63.3

64.1

62.4

62.8

do
do
do

34.3
22.7
3.7

34.8
21.1
2.0

36.5
23.8
2. 9

34.
23.
4.0

34.0
22.7
1.9

34.3
22.2

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
22.8
5.9

36.7
23.8
3. 7

37.7
24.0
.8

36.8
24.8
1.3

do

1.5

1.8

5

1.0

1.5

3.3

3.5

1.7

.7

1.4

1.3

.7

-.3

.5

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

20.9

25.6

26.2

19.7

22.0

22.2

23.8

25.5

26. 3

26.5

25.4

26.9

26.0

25.8

8.92

8.59

9.33

9.28

8.98

9.53

7.57

8.61

8.65

9.54

8.02

9.50

9.62

10.18

18.48

3.62
1.80
1.82

3.42
1. 57
1. 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

4.13
2.03
2.10

3.37
1.65
1.72

3.90
1.86
2.04

.25
.26
.48
1.42
2.89

.24
. 17
.46
1.38
2.92

.27
.21
.52
1.37
3.29

.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

.27
.20
.50
1.52
3.55

.23
.22
.36
1.07
3.22

.27
.30
.51
1.42
3.49

do

36.30

35.90

35.50

33.85

33.50

34.70

35.40

35.70

36.95

38.35

37.95

i 37. 95

do
do
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
6.55
7.60

14.45
6.95
7.50

15.05
7.25
7.80

15.00
7.30
7.70

15.30
7.50
7.80

15.30
7.30
8.00

1.05
1.10
2.15
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
5.65
11. 85

1.00
. 60
1.95
5.55
12.35

1.15
.70
2.05
5.15
12.45

1.05
.95
2.25
5.40
12.85

1.10
1.00
2.00
5.75
13.40

1.00
.80
1.90
5.45
13.80

1.05
.95
1.65
5.30
13.70

1.05
1.10
2.00
5.60
13.70

4, 752

4,710

4,720

4,730

4,740

4,750

4, 760

4,770

4,780

4,790

4,800

4,810

8,000

8,078

7,690

7,411

8,082

8,622

8,271

8,092

8,428

8,454

3.369
770
1,309

3,417
756
1,337

3, 840
699
1,388

3,888
722
1,428

3,933
752
1,361

4,045
746
1,445

4,164
730
1,484

4,051
778
1,510

Gross private domestic investment, total___do.__
New construction
Producers' durable equipment
Change in business inventories

-

Net exports of goods and services

Government purchases of goods and services, total
bll. $.
Federal
do
State and local
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
-bil. $_
Less* Personal tax and nontax payments
do
Equals' Disposable personal income
__do
Personal saving §

do

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals or averages:
All industries
Manufacturing
Durable goods industries
Nondurable goods industries
Mining
Railroads
Transportation, other than rail
Public utilities
__
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
IV^anufacturing
Durable goods industries
Nondurable goods industries

bll. $__
do
_ _ do
do
do
do _
do
do
do

2

Mining
do
Railroads
do
Transportation, other than rail
do
Public utilities
do
Commercial and other
do
BUSINESS POPULATION
Firms In operation, end of quarter (seasonally adjusted)
thous

3 4, 658

3

U.S. BALANCE OF INTERNATIONAL
PAYMENTS*
Quarterly Data are Seasonally Adjusted
U.S payments, recorded
mil $

31,317

31, 805

33, 245

7,690

14, 723
3,048
5,417

14, 514
2,947
5,462

16, 193
3.006
5; 800

3, 836
758
1, 375

3,664
797
1,368

3,422
722
1, 327

842
3,405

878
4,051

924
4,271

205
833

211
826

222
978

221
962

221
804

216
1,094

220
1,191

233
1,035

222
1,028

225
1,063

244
1,145

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
684
235
488

1,059
457
120
482

876
269
218
389

845
429
194
222

1,173
320
474
379

957
231
402
324

606
401
299
-94

762
413
161
188

726
332
345
49

Imports:
Merchandise
Military expenditures
Other services

__

do
do_ _
do

Remittances and pensions
Govt. grants and capital outflows
U.S. private capital...
Direct investments
Long-term portfolio
Short-term .

_

do
do

4, 713

3

do. _

27, 984

30, 073

32, 064

7,055

7,002

7,062

7,400

7,930

6,976

7,767

7,686

8,022

8,153

8,203

Exports:
Merchandise
Services and military sales

do
do...

19, 459
7,554

19, 915
8, 151

20, 566
9,248

4, 876
1,909

4,940
1,843

4, 986
1,975

5,061
2,008

4.768
2,060

4,940
1, 951

5. 146
2il32

5, 072
2,183

5,340
2,417

5,170
2,216

4,984
2,432

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

do
do

636
335

1,274
733

1,275
975

147
123

172
47

147
-46

133
198

851
251

81
4

209
280

141
290

224
41

612
155

298
489

519

-1,106

-855

-585

-70

-275

-251

-360

193

-409

90

-144

-406

-540

U.S. receipts, recorded

Excess of recorded receipts or payments (—).__ do
Unrecorded transactions

do

-3, 333

-1,732 -1,181

-635

-998

-1,016

-592

-628 -1,000

-140

-159

-297

-290 .
-52

2

2

9. 89

38. 65

-3, 925 -2.360 -2, 181
-775 -1,157 -1,313
Total, net receipts (+) or payments (— )
. do
-342
159
-214
-913 -1,264
-495
-681
-791
•"Revised.
» Preliminary,
is base d on inc(>mplete lata.
i Estimates for Jan.-Mar. 1963 based on anticip ated eaj)ital exp<mditures of busiiless,
t S ee corres lending note on ) . S-l (n^visions IDrior to 3d qtr. 1 359 appe ar on p. 8 fl. of
2 Estimates for Apr.-June 1963 based OP anticii3ated ca pital exp enditures of busiiless.
the Jul y 1962 ST T RVEY).
Anticipated expenditures for the year 1963 are as fo Hows (iri bil. $): All indiistries, 2 9.10;
§ F ersonal s aving is excess of disposab le incom e over pe rsonal cc nsumpti on expenditures
v,
manufacturing, total, 15.69; durable goods industri 3S, 7.78; nondura ble gooc s in dust ries,
shown
as a com ponent o f gross na tional pi oduct on p. S-l.
7.90; mining, 1.01 ; railroads, .96; transportation, 1.84; public utilities, 5.66; conamercial and
* A/tore corr plete de tails are given ir the qu irterly rtjviews iri the MiIT., June, Sept.,
other, 13.94.
and D(3C. issues of the S URVEY. Revisio]is prior 1 o 4th qt r. 1959 will be she)wn later.
s Unadjusted. Data represent firms in operatiori as of j£m. 1; est imate foi* Jan. 1, 1962