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SUKVEY OF CURRENT BUSINESS March 1967 NATIONAL INCOME AND PRODUCT TABLES 1965 1964 1965 1966 IV III 1965 1966 I II III IV 1964 1965 1966 1966 IV III Seasonally adjusted at annual rates I II III IV Seasonally adjusted at annual rates Billions of 1958 dollars Billions of current dollars Table 1. — Gross National Product in Current and Constant Dollars (1.1, 1.2) Gross national product Personal consumption expenditures Durable goods Nondurable goods Services ._ . 631.7 681.2 739.6 686.5 704.4 721.2 732.3 745.3 759.3 580.0 614.4 647.8 618.2 631.2 640.5 643.5 649.9 657.2 401.4 431.5 464.9 435.0 445.2 455.6 460.1 469.9 474.1 373.8 396.2 415.5 398.9 406.5 412.8 412.2 418.3 418.5 59.4 178.9 163.1 66.1 190.6 174.8 69.3 206.2 189.4 66.7 191.4 176.9 68.0 197.0 180.2 70.3 201.9 183.4 67.1 205.6 187.4 70.2 208.1 191.5 69.6 209.2 195.3 59.1 170.5 144.2 66.4 178.2 151.6 70.7 186.0 158.7 67.2 178.5 153.1 69.2 182.5 154.8 72.2 184.1 156.5 68.5 185.8 157.9 71.6 187. 1 159.6 70.6 187.1 160.8 93.0 106.6 117.0 106.7 111.9 114.5 118.5 115.0 120.0 86.5 97.8 104.7 97.9 102.2 103.5 106.3 102.5 106.4 88.3 60.7 21.0 39,7 27.6 27.0 .6 4.7 5.3 -.6 97.5 69.7 24.9 44.8 27.8 27.2 .6 9.1 8.1 .9 105.1 79.3 27.8 51.4 25.8 25.3 .6 11.9 12.2 -.3 98.0 70.2 24.4 45.8 27.8 27.3 .5 8.7 7.2 1.5 101.5 73.9 26.8 47.1 27.6 27.0 .5 10.4 9.0 1.4 105.6 77.0 28.5 48.5 28.6 28.0 .5 8.9 8.5 .5 106.2 78.2 27.9 50.3 28.0 27.4 .6 12.3 12.1 .2 105.1 80.3 27.7 52.6 24.8 24.3 .6 9.9 10.4 -.5 103.5 81.6 27.3 54.4 21.9 21.3 .6 16.4 17.6 -1.2 81.9 89.0 57.4 - 64.9 18.9 21.7 38.5 43.2 24.1 24.6 24.0 23.6 .5 .5 4.6 8.8 5.2 8.0 .9 -•6 93.6 72.1 23.4 48.7 21.5 21.0 .5 11.1 11.4 -.3 89.4 65.5 21.3 44.2 23.9 23.4 .5 8.5 7.1 1.4 91.9 68.4 23.2 45.2 23.5 23.0 .5 10.2 8.9 1.3 95.0 70.8 24.3 46.4 24.3 23.8 .5 8.5 8.0 .4 94.7 71.3 23.6 47.7 23.4 22.9 .5 11.6 11.4 .2 93.5 73.0 23.2 49.8 20.5 20.0 .5 9.1 9.6 -.5 91.2 73.3 22.7 50.7 17.9 17.4 .5 15.2 16.4 -1.2 8.5 37.0 28.5 7.0 39.0 32.0 4.8 42.7 37.9 7.1 40.1 33.0 6.1 40.3 34.2 6.0 41.7 35.6 4.7 41.9 37.3 4.2 43.4 39.2 4.1 43.6 39.5 8.5 36.4 28.0 6.3 37.3 31.0 4.7 41.1 36.4 6.4 38.4 31.9 6.0 38.7 32.8 5.9 40.1 34.2 4.6 40.3 35.8 4.2 41.8 37.6 4.1 42.0 37.9 Government purchases of goods and services Federal National defense Other State and local 128.9 65.2 50.0 15.2 63.7 136.2 66.8 50.1 16.7 69.4 153.0 76.9 60.0 16.9 76.2 137.7 67.5 50.7 16.8 70.2 141.2 69.8 52.5 17.3 71.4 145.0 71.9 54.6 17.4 73.1 149.0 74.0 57.1 16.9 75.0 156.2 79.0 62.0 17.0 77.2 161.1 81.7 65.5 16.2 79.4 111.3 57.8 114.1 57.8 123.2 64.0 115.0 58.3 116.6 59.3 118.3 60.4 120.4 61.9 124.9 65.5 128.3 67.6 53.4 56.3 59.1 56.7 57.3 57.9 58.5 59.4 60.7 Addendum: Implicit price deflator for seasonally adjusted GNP, 1958=100 108.9 110.9 114.2 111.0 111.6 112.6 113.8 114.7 115.5 Gross private do mestic investment Fixed investment - _ Nonresidential Structures,- . Producers' durable equipment.. . Residential structures Nonfarm . Farm _ . Change in business inventories Nonfarm . Farm ___ ._.__ Net exports of goods and services. . Exports Imports Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5) 631 7 681.2 739.6 686 5 704 4 721.2 732 3 745 3 759.3 580.0 614.4 647.8 618.2 631.2 640.5 643.5 649.9 657.2 -. . .627.0 __ .__ 4.7 672.1 9.1 727.7 11.9 677. 8 8.7 694.0 10.4 712.3 8.9 720.0 12.3 742.9 16.4 575.4 4.6 605.6 8.8 636.7 11.1 609.7 8.5 621.0 10.2 632.0 8.5 631.9 11.6 640.8 9.1 642.0 15.2 318 2 344 7 377 2 347 5 358 8 366 0 371 6 735.4 9.9 379 6 390 7 307 2 328 5 351 5 330 9 341.0 344 7 346 7 352 8 360.9 335 7 9.1 365.3 11.9 338 8 8.7 348 4 10.4 357 0 8.9 359 3 12.3 369 7 9.9 374 2 16.4 302 6 4.6 319 7 8.8 340.4 11.1 322 4 8.5 330.7 10.2 336.2 8.5 335 1 11.6 343.7 9. 1 345.7 15.2 Durable goods _. ._ Final sales Change in business inventories 125.5 138.5 122 2 132 2 33 6. 3 154.9 145.9 9.0 141.0 134 3 6 7 142.6 137 9 4 7 147.6 141 8 5.8 149 6 140 6 90 158 1 148 7 9 5 163.6 151 7 11.9 123 1 119 9 32 135.5 129 4 6.1 150.8 142.4 8.4 138 3 131 8 6 5 140.3 135 7 4.7 145.4 139 9 5.5 146 0 137 6 8.4 153.7 145 1 8.7 157.4 146.5 10.9 Nondurable goods . Final sales Change in business inventories 192 7 206 3 191 3 203 5 14 2 7 222.4 219 5 2.9 206 5 204 4 21 216 2 210 5 57 218 4 222 0 215 2 218 7 31 33 221 4 221 0 5 227 1 222 5 4 6 184 1 182 7 14 193 0 190 3 27 200 8 198 0 2.7 192 6 190 6 20 200 6 195 1 56 199 4 196 3 3.0 200 8 197 6 32 199 0 198 6 4 203.5 199.2 4.3 Gross national product Final sales . Change in business inventories. Goods output Final sales Change in business. in ventories.. 313 6 4.7 244 5 262 0 285 9 265 1 268 8 275 5 282 1 289 9 296 2 211 2 221 1 232 4 223 3 224 0 227 7 230 9 234 4 236 6 Structures 68 9 74 5 76 6 73 9 76 9 79 8 78 6 75 8 72 5 61 7 64 8 64 1 64 0 66 2 68 0 66 0 62 8 59.8 Addendum : Gross auto product 25 8 31 4 29 4 31 6 30 5 31 5 28 6 27 9 29 4 25 4 31 4 29 9 31 9 30 7 32 2 29 1 28 5 29.7 657.2 Services Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8) Gross national product. Private Business Nonfarm Farm Households and institutions Rest of the world General government _ .._ 631.7 681.2 739.6 686 5 704 4 721 2 732 3 745 3 759.3 580 0 614 4 631.2 640.5 643.5 649.9 613 4 663 4 618 2 633 8 648 4 657 6 667 7 679 4 530 8 563 5 647.8 593 g 618 2 568 7 567 2 579 4 588 0 589 9 595 1 601 5 547 527 20 17 4 590 567 23 18 4 8 1 8 3 3 639 5 614 7 24 8 19.5 4 4 595 3 570 6 24 7 18 7 41 611 2 586 6 24 7 19 1 34 624 599 25 19 4 634 609 25 19 4 513 3 491 2 22 0 13 6 39 545 4 521 7 23 8 14 0 41 574 552 22 14 4 548 524 24 14 4 9 6 3 2 0 561 6 537 5 24 1 14 5 33 569 546 23 14 4 571 548 22 14 4 576 554 21 14 4 2 5 7 5 4 582 8 560.1 22.8 14.6 4 0 67 8 76 2 68 3 70 6 643 619 24 19 4 77 655 3 631 0 24 3 20 0 41 79 9 49 2 50 9 51 1 51.8 54 8 55.8 4 0 4 3 0 63 0 9 3 7 1 4 72 8 0 0 0 1 5 74 7 5 1 4 7 6 g 9 3 6 4 3 54 2 4 4 0 3 3 52 5 4 4 9 2 3 53 6 CURRENT BUSINESS STATISTICS JLHE STATISTICS here update series published in the 1965 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $2.00) provides a description of each series, references to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1961 through 1964 (1954-64 for major quarterly series), annually, 1939-64; for selected series, monthly or quarterly, 1947-64 (where available). Series added or significantly revised after the 1965 BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1964 issued too late for inclusion in the 1965 volume appear in the monthly SURVEY beginning with the September 1965 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding to revised annual data are available upon request. 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. 1964 Unless otherwise stated, statistics through 1964 and descriptive notes are shown in the 1965 edition of BUSINESS STATISTICS 1 1965 1966 1964 1963 IV I II | 1966 1965 III | IV I | II III I IV II III IV Annual total Seasonally adjusted quarterly totals at annual rates GENERAL BUSINESS INDICATORS—Quarterly Series NATIONAL INCOME AND PRODUCTf 605.8 616.8 627.7 637.9 644.2 660.8 672.9 686.5 704.4 721.2 732.3 745.3 759.3 381.5 391.1 398.0 407.5 408.8 418.9 426.8 435.0 445.2 455.6 460.1 469.9 474.1 55 6 24 9 23.1 57 6 25.3 24.1 59.8 26.0 25.4 61.1 27.1 25.3 58.9 24.6 25.7 65.1 30.1 26.0 64.4 29.2 26.2 66.7 30.2 27.3 68.0 29.9 28.8 70.3 31.4 29.6 67.1 28.5 29.2 70.2 30.1 30.7 69.6 29.8 30.7 206.2 40.3 104.8 16.1 169 6 '30 7 88 6 13 7 174.9 32.8 90.7 13.9 176.5 32.7 92.1 13.9 181.7 34.3 93.9 14.2 182.4 34.4 94.4 14.4 184.5 34.6 95.4 14.4 189.4 35.6 97.8 15.2 191.4 36.0 98.7 15.3 197.0 37.5 101.6 15.7 201.9 39.4 103.3 15.8 205.6 39.7 104.8 16.1 208.1 41.1 105.5 16.1 209.2 40.8 105.4 16.6 174.8 25.6 63.2 12.8 189.4 27.2 67 7 14.0 156 3 23 3 56 8 11 6 158.7 23.8 57 7 11.7 161.6 24.2 58.7 11.7 164.7 24.7 59 6 11.9 167.5 24.7 60 7 12.1 169.3 24.7 61 6 12.2 173.0 25.4 62 7 12.7 176.9 26.0 63.6 13.0 180.2 26.3 64.7 13.4 183.4 26.5 66.0 13.5 187.4 27.1 67.1 13.9 191.5 27.6 68.2 14.2 195.3 27.7 69.5 14.5 93.0 106 6 117.0 92 9 90 2 91.8 92.5 97.4 103.8 103.7 106.7 111.9 114.5 118.5 115.0 120. 0 do do _ .do do do do do _do _ 88 3 60.7 21.0 39 7 27.6 27 0 4 7 5.3 97 5 69 7 24.9 44 8 27.8 27 2 9.1 8. 1 105 1 79 3 27.8 51 4 25 8 25 3 11 9 12.2 84 56 19 36 28 27 8 7 7 8 9 8 0 4 1 0 86 6 58 1 20.3 37 9 28 5 27 9 35 36 87 6 59 7 20.9 38 8 27.9 27 3 4 2 5. 1 88 9 61.7 21.0 40 7 27.2 26 6 36 4.6 90 0 63 3 21.8 41 4 26.7 26 2 7 4 7.9 94 4 66 7 23.6 43 1 27 7 27 2 9 5 9 4 96 0 67.9 24.6 43 3 28.1 27 5 7 6 6.7 98 0 70.2 24.4 45 8 27.8 27 3 8 7 7.2 101.5 73.9 26.8 47 1 27.6 27 0 10 4 9.0 105.6 77.0 28.5 48.5 28.6 28 0 8.9 8.5 106.2 78.2 27.9 50.3 28.0 27.4 12.3 12.1 105.1 80.3 27.7 52.6 24.8 24.3 9.9 10.4 103.5 81.6 27.3 54.4 21.9 21.3 16.4 17.6 do do. _ do 8.5 37.0 28 5 7.0 39.0 32 0 4 8 42 7 37 9 7 1 34 3 27 1 9 0 36 4 27 4 7 9 36.0 28 1 8 4 37.2 28 8 86 38.1 29 6 6 4 35 1 28 7 82 40.5 32 3 7 1 40.1 33 0 6.1 40.3 34 2 6.0 41.7 35 6 4.7 41.9 37.3 4.2 43.4 39.2 4.1 43. 6 39.5 Govt. purchases of goods and services, total. _do Federal. . _ _ . _ . . . _ _ _ _ _ . _ . do National defense do State and local. . _ . _ _ __ _ do 128.9 65 2 50 0 63 7 136.2 66 8 50 1 69 4 153.0 76 9 60 0 76 2 124.3 64 4 50 3 59 8 126.5 64 9 50 1 61 6 130.1 66 6 51 6 63 4 129.5 65 1 49 8 64 4 129.4 64 1 48 5 65 3 131.6 64 4 48 2 67 3 134.3 65 6 49 1 68 7 137.7 67 5 50 7 70 2 141.2 69 8 52 5 71 4 145.0 71.9 54 6 73. 1 149.0 74.0 57.1 75.0 156.2 79.0 62.0 77.2 161. 1 81.7 65.5 79.4 By major type of product:f Final sales, total . Goods, total Durable goods Nondurable goods _ _ _ _ _ Services. _ Structures __ _ __. do do do do do do 627.0 313 6 122 2 191 3 244 5 68 9 672.1 335 7 132 2 203 5 262 0 74 5 727 365 145 219 285 76 597 298 117 180 232 67 613 307 119 187 237 68 623 311 122 189 242 69 5 4 4 0 7 4 634 4 318 8 125 0 193 8 247 1 68 5 636 316 122 195 251 68 651 324 127 196 254 72 4 3 7 6 3 7 665 3 331 2 128 8 202 4 259 § 74 3 677.8 338 8 134 3 204 4 265 1 73 9 694.0 348 4 137 9 210 5 268 8 76.9 712.3 357.0 141 8 215 2 275 5 79.8 720.0 359. 3 140.6 218.7 282 1 78.6 735.4 369.7 148.7 221.0 289.9 75.8 742. 9 374.2 151.7 222.5 296.2 72.5 Change in business inventories Durable goods.. ____ Nondurable goods do do do 4 7 33 1.4 9 1 6 3 2.7' 7 6 6 4 1.2 8 7 6 7 2.1 10 4 4 7 5.7 89 5.8 3.1 12.3 9.0 3.3 9.9 9.5 .5 16.4 11.9 4.6 Gross national product, totalf . __ . _ Personal consumption expenditures, total bil. $ 631.7 681.2 739.6 do 401.4 431.5 464.9 59.4 25.8 25.1 66.1 29.8 27.1 69.3 30.0 30.1 178.9 33.6 92.8 14.1 190.6 35.9 98.4 15.1 163.1 24.3 59 2 11.8 do Durable goods, total 9 do Automobiles and parts . . _. . . do Furniture and household equipment ._ _ _ d o _ _ _ Nondurable goods, total 9 _ . Clothing and shoes Food and beverages Gasoline and oil _ _ do __do do .do Services, total 9 Household operation Housing Transportation - _ _ - - _ . do do. . do do Gross private domestic investment, total Fixed investment Nonresidential _ Structures _ _ Producers' durable equipment Residential structures _ _ _ _ _ Nonfarm Change in business inventories. Nonfarm _ _ _ . _ - _ _ _ Net exports of goods and services Exports. .. _ _ _ _._ Imports _ __ _ 7 3 9 5 9 6 7 1 3 8 2 4 3 1 6 5 3 8 8 9 0 0 1 8 11 9 9 0 2 9 81 38 4 4 35 2 3 12 4 2 36 5 36 2 8 .8 7 4 4 4 2 9 9 5 7 4 2 1 GNP in constant (1958) dollars bil. $ 580 0 614 4 647 8 562 1 569 7 578 1 585 0 587 9 600 3 607 8 618 2 631 2 640.5 643.5 649.9 657. 2 do 373.8 396.2 415.5 357.7 365.7 371.0 379.5 378.9 387. 1 392.2 398.9 406.5 412.8 412. 2 418.3 418. 5 do do do 59 1 170 5 144.2 66 4 178 2 151.6 70 7 186 0 158.7 55 3 162 4 140.0 57 2 167 2 141.2 59 5 168 4 143.1 60 9 173 3 145.3 58 8 173 1 146.9 64 8 174 2 148.1 64 2 177 6 150.4 67 2 178 5 153.1 69 2 182 5 154.8 72 2 184. 1 156.5 68. 5 185. 8 157.9 71.6 187.1 159.6 70. 6 187.1 160.8 do 86.5 97.8 104 7 87 7 84 6 85 6 85.7 90 2 95.9 95.3 97.9 102.2 103.5 106.3 102.5 106.4 do do do do 81 9 57 4 24.6 4.6 89 0 64 9 24.1 8.8 93 6 79 i 21. 5 11. 1 79 7 54 3 25.4 8.1 81 9 55 5 25.7 3.5 81 6 56 6 24.9 4.0 82 2 58 2 24.1 3.5 82 98 59 23.6 7.4 86 6 62 3 24.4 9.3 88 0 63 4 24.5 7.3 89 4 65 5 23.9 8.5 91 9 68 4 23.5 10.2 95.0 70.8 24.3 8.5 94.7 71.3 23.4 11.6 93.5 73.0 20. 5 9. 1 91.2 73.3 17.9 1 5. 2 Net exports of goods and services do 85 6 3 4 7 7 i 9 9 8 4 8 0 5 7 7 l 6.4 6.0 5.9 4.6 4.2 4. 1 Govt. purchases of goods and services, total Federal . State and local _ _ do do do 115.0 58 3 56.7 116.6 59.3 57.3 118.3 60.4 57.9 120.4 61.9 58.5 124. 9 65.5 59.4 128.3 67. 6 60. 7 Gross national product, totalf - Personal consumption expenditures, total Durable goods Nondurable goods Services _ _ _ Gross private domestic investment, total Fixed investment NonresidentiaL . . _ Residential structures Change in business inventories 111.3 57 8 53. 4 114.1 57 8 56. 3 123. 2 64 0 59. 1 109. 5 58 7 50 Q 110.3 58 9 52.0 r Revised. v Preliminary. f Revised series, Estimates of national income and product and personal income have been revised (see p. 11 ff. of the July 1966 issue of the 9 8 113.3 59 7 53. 6 111.3 57 4 53. 9 110.1 56 1 54.0 111.5 56 2 55. 3 113.2 57 3 55. 9 SURVEY); revisions prior to May 1965 for personal income appear on p. 18 it. of the July 1966 issue of the SURVEY. 9 Includes data not shown separately. S-l SURVEY OF CUKRENT BUSINESS S-2 Unless otherwise stated, statistics through 1964 and descriptive notes are shown in the 1965 edition of BUSINESS STATISTICS 1964 | 1965 Annual total 1966 1964 II III March 1967 1966 1965 IV II I III IV II I 1967 rv III I II GENERAL BUSINESS INDICATORS— Quarterly Series— Continued NATIONAL INCOME AND PRODUCT— Con. Quarterly Data Seasonally Adjusted at Annual Rates 522.9 517. 3 559.0 p 610. 1 513.7 National income totalt foil $ 433.3 302. 2 369.8 Compensation of employees total do 365.7 392.9 392.3 330.6 337.4 Wages and salaries total do 333.6 358.4 314.8 267.1 272.3 Private do 269.3 289.1 14.6 12.1 11.6 Military do 11.7 11.7 62.8 51.9 53.4 Government civilian do 52.6 57.1 32.4 41.0 31.7 Supplements to wages and salaries do 34.5 32.0 57.8 52.2 51.9 Proprietors' income, total 9 do 51.9 55.7 41.8 39.9 Business and professional 9 do 40.3 39.9 40.7 16.0 12.2 Farm do 12.0 15.1 11.7 18.9 17.6 17.8 Rental income of persons do 18.3 17.7 Corporate profits and inventory valuation adjust74.2 P80.2 66.5 67.8 ment total bil $ 66.6 By broad industry groups: 8.4 10.0 8.4 8.9 8.5 Financial institutions do P70.2 59.3 58.2 65.3 58.1 Nonfinancial corporations total do 32.4 33.0 Manufacturing total do 32.4 37.8 P41.1 14.6 15.7 14.6 Nondurable goods industries do 14.5 P17.3 18.4 22.1 17.7 17.9 Durable goods industries do P23.8 Transportation, communication, and public 10.2 pll.9 10.6 10.4 utilities bll $ 11.1 16.4 15.5 15.7 15.4 P17.2 All other industries do 67.8 66.8 67.0 75.7 Corporate profits before tax total do P82.3 31.2 28.3 28.7 28.4 P33.9 Corporate profits tax liability do 39.1 38.5 44.5 p48. 4 Corporate profits after tax do 38.7 17.4 19.2 17.3 20.9 17.3 Dividends do 21.3 21.7 25.3 Undistributed profits do v 27. 5 21.3 .0 -.3 -.4 -1.5 -2.1 Inventory valuation adjustment do 15.7 17.8 15.1 15.5 20.0 Net interest do DISPOSITION OF PERSONAL INCOMEf Quarterly Data Seasonally Adjusted at Annual Rates 492.0 500.3 496.0 535.1 580.4 Personal income total bil $ 56.9 59.1 59.4 66.0 75.1 Less' Personal tax and nontax payments do 469.1 436.6 ,505.3 435.1 441.2 Equals: Disposable personal income do 443.4 412.1 478.3 408.5 418.4 Less* Personal outlays© do 22.8 26.6 24.5 25.7 Equals' Personal saving! do 27.0 NEW PLANT AND EQUIPMENT EXPENDITURES Unadjusted quarterly or annual totals: 11.54 44.90 51.96 11.11 All industries bil $ 60.63 4.67 4.53 18.58 Manufacturing do 22.45 26.99 2.37 2.30 9.43 11.40 Durable goods industries do 13. 99 2.23 2.30 9.16 11.05 Nondurable goods industries . do 13.00 .30 .29 1.19 Mining do 1.30 1.47 .37 .36 1.41 Railroad . . do 1.73 1.9S .59 .63 2.38 2.81 Transportation, other than rail . . . do 3.44 1.71 1.58 6.22 Public utilities do 6.94 8.41 1.06 1.10 4.30 4.94 Communication do 5.62 2.84 2.61 10.83 11.79 Commercial and other do 12.74 Seas. adj. qtrly. totals at annual rates: 45.65 43.50 All industries . __ do 18.85 17.80 Manufacturing do 9.60 9.00 Durable goods industries do 9.20 8.80 Nondurable goods industries do 1.20 1.15 Mining.. _ _ _ do 1.25 1.50 Railroad _ do 2.25 2.40 Transportation, other than rail do 6.30 6.30 Public utilities... do 4.40 4.30 Communication do 10.45 11.00 Commercial and other do U.S. BALANCE OF INTERNATIONAL PAYMENTSd* Quarterly Data Are Seasonally Adjusted (Credits +; debits -) Exports of goods and services (excl. transfers under 36,958 38,993 P 42, 910 9,001 9,308 military grants) mil $ 6,092 6,389 25,297 26,276 p 29, 180 Merchandise, adjusted, excl. military do 162 186 747 Military sales do 844 P908 1,369 1,368 5,392 5,901 v 6, 180 Income on U S investments abroad do 1,389 1,354 5,522 5,972 P6.642 Other services do -28,468 -32, 036 p-37, 614 -7, 032 -7,196 Imports of goods and services. . _ do Merchandise, adjusted, excl. military _ d o _ _ _ -18,621 -21,488 p-25, 507 -4, 579 -4, 752 -686 -2,834 -2,881 p-3, 649 -725 Military expenditures do -349 -344 Income on foreign investments in the U . S _ _ d o _ _ _ -1,404 -1,646 p-1, 868 -5,609 -6,021 p-6, 590 -1,384 -1,409 Other services do Unilateral transfers, net (excl. military grants); -694 -2,765 -2,794 p-2, 907 -717 transfers to foreigners ( — ) mil $ Transactions in U.S. private assets, net; increase -6, 523 -3, 690 p-3, 911 -1,385 -1,589 (— ) mil $ Transactions in U.S. Govt. assets, excl. official -415 -1,674 -1,575 p-1, 481 -350 reserve assets* increase ( — ) mil $ Transactions in U.S. official reserve assets, net; 70 303 1,222 171 increase ( — ) mil $ P568 Transactions in foreign assets in the U.S., net (U.S. 332 719 3,312 309 p 3, 024 liabilities)" increase (-f-) mil $ 547 249 2,627 115 Liquid assets , do p856 172 83 685 194 p2. 168 Other assets do -152 -203 -429 -1,011 Unrecorded transactions . do p -589 Balance on liquidity basis—increase in U.S. official reserve assets and decrease in liquid liabilities to -617 -552 -2,798 -1,337 p-1, 424 all foreigners* decrease ( — ) mil $ Balance on official reserve transactions basis—increase in U.S. official reserve assets and decrease in liquid and certain nonliquid liabilities to foreign -231 -326 -1,546 -1,305 p271 official agencies' decrease ( — ) mil $ '1 Revised. P Preliminary. Estimates for Jan.-Mar, 1967 based on anticipate d capital t xpenditiires of bu siness. ? Estimates for Aor.-June 1967 based on antici]Dated capital expe nditures of busii ess. Anticipated expenditures for the year 1967 are as foliows (in bil $): Alii ndustries, 63.00; m inufactoring, total, 27.94; durable goods industries, 1^1.64; nond urable g oods indiistries, 1 5.30; mining, 1.58; railroad, 1.48: transportation, 3.94; pu blic utilit ies, 9.15; commerc al and other find, communication), 18.91. 3 includes commurlication. 528.5 375.3 342.2 275.9 11.9 54.3 33.1 52.2 40.3 11.9 17.9 543.3 381.7 348.2 281.2 11.8 55.2 33.5 53.3 40.5 12.9 18.1 552.2 387.8 353.7 285.8 11.7 56.3 34.1 55.9 40.4 15.5 18.3 562. 7 395.6 360.8 291.1 12.0 57.7 34.8 56.7 40.7 16.0 18.4 577.8 406.5 370.8 298.5 13.0 59.3 35.7 57.1 41.1 16.0 18.5 595.7 419.6 380.0 305.9 13.6 60.4 39.6 58.4 41.4 17.0 18.7 604.1 427.9 387.4 311. 5 14.1 61.8 40.5 57.9 41.6 16.3 18.8 66.8 73.2 72.7 74.0 76.9 80.0 79.9 79.1 8.6 58.1 32.2 14.7 17.5 8.5 64.6 37.4 15.5 21.9 8.7 64.0 36.7 15.5 21.2 8.9 65.0 37.4 15.5 21.9 9.5 67.5 39.6 16.4 23.2 9.4 70.6 41.9 17.2 24.7 9.8 70.0 40.6 17.2 23.4 10.1 69.0 39.5 17.0 22.5 10.5 15.5 67.7 28.6 39.0 17.7 21.4 -.9 16.3 10.7 16.5 74.5 30.7 43.8 18.1 25.7 -1.3 16.9 10.9 16.4 74.5 30.7 43.8 18.8 i 25.0 -1.8 17.5 11.2 16.4 75.0 30.9 44.1 19.5 24.6 -1.0 18.1 11.5 16.4 78.7 32.4 46.3 20.2 26.1 -1.8 18.7 11.3 17.4 82.7 34.1 48.7 20.9 27.8 -2.8 19.1 12.0 17.4 82.8 34.1 48.7 21.1 27.6 -2.9 19.6 12.2 17.2 81.9 33.7 48.2 21.1 27.1 -2.8 20.2 P81.9 P33.8 P48. 2 20.7 P27.5 .0 21.0 507.5 60.9 446.6 420.0 26.6 518.0 64.9 453.2 430.3 22.8 527.6 66.6 461.0 438.6 22.4 541.9 65.7 476. 2 447.1 29.0 552.8 66.7 486.1 457.6 28.5 564.6 69.5 495.1 468.4 26.7 573.5 73.6 499.9 473.3 26.6 585.2 77.4 507.8 483.3 24.5 598.3 79.8 518.4 488.0 30.4 12.84 5.59 2.83 2.76 .33 .35 .64 1.76 1.17 3.01 10.79 4.54 2.25 2.28 .29 .39 .58 1.32 1.08 2.59 12.81 5.47 2.76 2.70 .33 .44 .77 1.71 1.24 2.85 13. 41 5.73 2.91 2.82 .32 .44 .72 1.88 1.22 3.10 14.95 6.72 3.48 3.24 .35 .46 .73 2.04 1.41 3.25 12.77 5.61 2.87 2.74 .33 .40 .75 1.60 1.26 2.83 15.29 6.78 3.51 3.27 .40 .55 1.00 2.09 1.42 3.06 15.57 ' 17. 00 6.84 '7.75 3.54 '4.07 3.30 '3.68 .38 .37 '.55 .48 '.86 .82 2.36 '2.36 1.58 1.36 3.33 ' 3. 52 47.75 20.15 10.15 10.00 1.30 1.55 2.60 6.35 4.40 11.40 49.00 20.75 10.40 10.40 1.25 1.75 2.55 6.80 4.55 11.30 50.35 21.55 10.80 10.70 1.30 1.55 2.70 6.85 4.80 11.60 52.75 23.00 11.75 11.25 1.25 1.70 3.00 6.75 5.05 11.95 55.35 24.15 12.45 11.70 1.35 1.95 3.00 7.30 5.30 12.25 58.00 25.60 13.15 12.45 1.40 1.75 3.30 8.25 5.35 12.35 60.10 26.80 13.85 12.95 1.55 2.00 3.50 8.30 5.50 12.45 61.25 ' 62. 80 'i 62. 60 2 62. 25 27.70 27.55 ' 27. 75 '27.60 14.35 ' 14. 50 ' 14. 45 14.25 13.45 13.20 ' 13. 25 13.15 1.45 1.55 1.50 1.45 1.35 1.85 '2.35 '1.65 3.95 3.40 '3.50 '3.50 9.30 9.50 8.55 '8.50 5.95 5.60 12.85 r 13. 30 '3 19. 10 3 18. 20 613.8 P 626.9 438.3 447.5 396.7 405.0 318.0 323.9 15.0 15.8 65.2 63.7 41.5 42.5 57.3 57.5 41.9 42.3 15.4 15.2 18.9 19.1 P81.9 10,065 7,027 216 1,254 1,568 -8,540 -5, 756 -771 -458 -1,555 -719 -645 -852 ' -736 ' -698 p-621 -827 -912 -928 -1,094 ' -748 p 1, 141 -268 -471 -662 -2, 189 -1,605 -618 -151 -367 842 -768 -346 -469 68 271 41 1,842 1,532 310 -360 180 -145 325 0 -425 -294 -131 -109 242 493 <261 -240 -1,381 -697 226 -534 ' -341 424 3 4.55 ' -452 ' -376 p-312 68 312 ••409 ' 1, 026 61 ^120 '54 251 289 '972 -80 ' -294 '-195 -332 '3 4. 42 ' 10, 480 *• 10, 558 ' 10, 943 plO, 929 7,154 7,098 ' 7, 426 P 7, 502 P235 198 215 260 ' 1, 532 ' 1, 575 ' 1, 585 p 1, 488 1,596 ' 1, 625 ' 1, 717 p 1,704 --8, 898 -9, 175 '-9, 737 p-9, 80 '-5,980 '-6, 220 r-6,639 p-6, 66 -899 ' -934 p-962 -436 ' -437 ' -510 p -485 '-1,628 --1,619 '-1,654 p-1, 68 9,537 8,776 10, 136 10, 016 6,826 5,625 6,798 6,660 229 199 201 200 1,470 1, 616 1,561 1,253 1,521 1,493 1,423 1,390 -7, 390 -7,164 -8, 087 -8,245 -4, 901 -4, 656 -5,481 -5, 595 -745 -701 -664 -683 -411 -404 -372 -373 -1,494 -1,434 -1,471 -1,501 -671 i 13. 83 2 15. 84 '6.06 7.00 '3.16 3.60 2.89 3.39 .35 .40 '.38 .37 '.78 1.13 '1.84 2.40 ' -544 82 -6 '361 P 1, 228 P564 '118 p664 '243 '173 p -273 ' -122 ' -200 p -558 I 232 -1,158 '-234 ' -203 1 '952 p -244 239 -845 -618 tSe e corresponding n ote on p. S-l. valuatk nventory >n adjust rnent. 9Iiicludes i 0F ersonal outlays cComprise personal consum ption ex penditur es, inter 3St paid by conayments to foreig tiers, ransfer p sume rs, and p ersonal t §Pe rsonal sa ving is e xcess of clisposabl(j income over per sonal out lays. <?*4 ore com plete del ails are jiven in ihe quar ;erly rev cws in tl^ie Mar. June, Sept., and « Correct ed. Dec. issues of the SUR VEY.
@FedFRASER