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SURVEY OF CURRENT BUSINESS
Mar 1964
Table 1.—Gross National Product in Current and Constant Dollars (1-3, 1-5)
1963
1961
1962
1964
1
• -I
1963
1903
III
IV
|
1961
I
1962
1963
1
Seasonally adjusted at annual rates
Gros*' national product
Durable poods
Nondurable goods _
Service* 5
_ _ _
--
_.,
_.
.
II r
iv
i
Seasonally adjusted at annual raU'S
Billions of current dollars
V*ersona! consumption expenditures _
II
IIM'4
Billions of 1954 dollars
518 2
554 9
585. 1
571 8
579 6
588. 7 \
600. 1
608. 0
447. 7
474.8
492.9
485.3
489.4
49 5.1
501.7
5U6. 4
336. 8
355. 4
373. 1
367. 4
370. 4
374.9
379.9
387.9
303. 6
317. 6
328.9
325.5
327.0 ! 33 0. 1
332. 8
.m ()
43. 6
155. 1
13*. 0
4s. 2
161.4
145. 7
51.5
167.1
154.5
50.fi !
165.3 1
151.4 ;
51. 0
165.9 i
153.5 i
50. S i
168.6
155. 5 |
53. 6
16s. 7 '
157. 7
55. 5
172. 4
100. 0
41.5
143.3
45. 6
147.8
124. 3
4s. 6
151.3
129. 0
4s. 1 ;
150.1
127. 3
4s'. 0
150.5
12S. 5
50, 4
151.9
130.6
52. 5
154. S
131.7
4 S. 0
152.6
12 j. 6
69 0
78 8
82 3
77 8
80 7 '
83.7
87.1
84.8
57. 5
65. 2
67.7
64.6
66.4
6 8.6
71.4
68.9
41.6
44.4
46. 6
43. 7
45. 8
47. 9
49. 2
49. 7
34.7
36. 7
37. s
35. 7
37. 3
38. 6
39. 5
39. S
21 0
90 5
23 2
25 0
•>1 6
'» i •
°1 0 i
->4 x
'>! 0
25, 9 i
2l> 0 i
20 S
"^ 4
•'>" 1
'>° 6
18 2
16.6
19 8
16. S
21. 0
16. s
19.2
Hi. 5
20. 9 j
16. 4 •
2 1.6
1 7.0
22.2
17.3
22.3
17.4
Producers' durable equipment
95 5
28. S
30. 9
29.0
:
30.7
31.6
32.5
32.9
21.0
23.8
25.5
24.0
25.3 ;
2 6. 1
2»>. S
27. 0
Chantro jn business inventories
1.9
5. 5
4. 7
5. 1 i
4.3
4 9 i
5 4
•> 1
1. 7
4.8
4.4
4.9
3. S |
4. 0
5. 0
2. 1
1.5
.3
4.9
4.2
.5
4.3 !
.8 i
3.6
.6
3.7
.5 ;
5.1
.3
1.9
.2
1.6
4.3
.5
3. 9
.6
4. 1
.8 !
3. 1
.6 j
3.5
.5
4.7
.3
l.S
.2
2.3
1.8
2.6
2.3 i
3.3
4.5
30.3
26. 9
31.5
27. 0
N e w construction
Residential nonfarm
Other
Xonfarm
Farm
__.
-
Net exports of jfoodfe and services
"F xport s
Imports
Government purchases of goods and services
State a n d local
:
4 4
3 8
4 5
4,3
5.4
6.6
98 9
25 1
30 7
26. 2
9s1 6
24. 9
30 7
25. 9
3! 4
27. 1 ;
3>;> 3
26. 9 i
33 6
27. 0
23! 3
27. 0
25.2
28. S
26.2
3.6 j
4.8
1.8
:
2.8
26. 7
24.9
2H. 7
25. 9 i
2 9.4
2 7. 1
125. 1
123.0
123,8
125.7 |
128.8
84. 3
90.2
93.7
93.4
93.2 j
9 4. 1
94. 2
<>4. 1
57.4
62. 4
66. 3
65.5
66.5
66. 4
66. 6 j
66. 9
44.8
49. 0
50. 5 ;
50. 6 ,
51. 0
50.7
49.8 '
49.3
53.3
10. 0
.8
56. 7
10. 5
1. 0
56. 4 i
10. 1 i
1. 0 '
56. 7
10.6
.8
56. 7 i
10.8
1.2
57. 2
10.4
1. 0
;
_
49 0
8.9
.6
57. 1
10.9
1.1
_ _ _ _ . . . .
50. 6
54. 6
58. 8
57. 5
57. 3
59.4
61.2
4 3.4
44.4 ,
44.7
_ _ _
„
<>
97 5
23 1
107. 9
Federal
Xalional defense
Other
Less" Government sales
Oj
117.0
127.7
I
61.9
39.5
41.2
.
43. 2
42. 9
I
42. l
Table 2.—National Income by Type of Income (1-3, 1-9)
[Billions of dollars]
1964
1963
1961
1963
1962
"
I
IV
III
I
Seasonally adjusted at annual rates
National income
426.1
453. 7
478. 1
466.7
474.6
482.0
489.1
^omwenScition of employees
302. 1
322. 9
340. 4
332. 0
338. 7
342.8
347.9
352.5
Wa^es and salaries
-Private
Military
Government civilian
.
278.8
227 0
10.2
41. 6
297. 1
241.6
10.8
44. 7
312. 3
253. 0
11.0
48.3
304. 5
246. 7
10.7
47. 1
310. 8
252. 2
10.8
47.8
314.6
255. 1
10.8
48.7
319.4
258. 1
11.8
49.5
323. f.
261. 1
11.8
50. 7
Supplements to wages and salaries
Emplover contribution for social insurance
Other labor income -Emplover contributions to private pension and welfare funds
Other
_
_ - _.
...
23.3
11.9
11.4
8.9
2.4
25.7
13.7
12.1
9.5
2.6
28. 0
15.4
12.6
27.5
15.0
12.4
27.9
15. 3
12. 6
28.2
15.5
12.7
28.5
15.7
12.8
28.8
16.0
12.9
48.1
49.8
50.5
50.7
50.0
50.5
50.8
50.8
35.3
35.3
.0
12.8
36. 5
36. 5
.0
13.3
37.7
37.2
37.4
37. 8
38.2
38.6
12.8
13.5
12. 6
12.7
12.6
12.2
12.1
12.0
12.1
12.0
12.0
12.1
12.2
12.3
43. 8
47.0
51. 1
48.8
50. 1
52. 2
53.2
43.8
22.0
21.8
15.3
6.5
46. 8
22.2
24.6
16. 6
8. 1
51.5
24.4
27. 1
17.8
9.3
48.3
22.9
25.4
17. 1
8.3
51.0
24.2
26.8
17.6
9.2
52. 2
24.7
27.5
17.6
9.8
54.3
25.8
28.6
18.8
9. 7
.0
.2
— 4
.4
.0
-1.1
-.2
20.0
22.0
24.1
23.3
23.7
24.3
25.0
25.6
...
_ -_„
'roprietors' income
Business and professional
Income of unincorporated enterprises
Inventory valuation adjustment
Farm__
_ __ _
_
'.ental income o f persons
-
-
_ __
_ _ _ .
._
.
_ _ _ _ _
orporate profits and inventory valuation adjustment
Profits before tax
Profits tax liabilitv
.
Profits after tax
Dividends _ _ Undistributed profits
Inventory valuation adjustment
6t interest
_
_
_
_ _
_
1. First-quarter national income total and the corporate profits share are based on preliminary estimates and are subject to revision in next month's S C R V K V .
i 4%. 9
1
55. 8
56. 0
24. 9
31. 1
19. 1
12.0
SURVEY OF CURRENT BUSINESS
May 1964
Recent Advances in Corporate Profits 1
[Billion dollars]
Business
cycle:
Peak Trough
II
1960
1961
Current
Percent
changes
IV
11-1960 1-1961
IV-1963 IV-1963
1963
Seasonally adjusted
annual rate
All industries,
total
45.2
38.8
53.2
17.7
37.1
23.2
18.6
28.1
21.1
51.1
Durable goods
industries
11.7
8.4
15.6
33.3
85.7
Nondurable
goods industries _-
11.5
10.2
12.5
8.7
22.5
Manufacturing
Transportation,
communications, and
public utilities ..
All other industries
facturing have risen by $2 billion, to
reach a record $15% billion in the final
quarter of 1963. In the 1954-57 period,
profits in durable manufacturing reached a peak in the sixth quarter of expansion and declined sharply thereafter.
In the 1958-60 expansion, the topping
out was evident after a little more than
a year of sharp increases and the trend
was generally downward thereafter.
Earnings in nondurable goods industries rose only slowly after the 1961
trough, but, in contrast to the experience of the two previous upswings, they
were still increasing as 1963 ended.
Following recovery from the troughs of
1954 and 1958, profits in soft goods
industries leveled off after about a year
and a half of recovery, and declined
gradually thereafter.
Table 3.—Persona] Income and Its Use (II-2)
[Billions of dollars]
1963
1961
7.1
6.7
8.3
16.9
23.9
14.9
13.5
16.9
13.4
25.2
I
1963
III
II
IV
I
Seasonally adjusted at annual rates
Personal income
1. Before tax and inventory valuation adjustment.
gins as well as the expanding level of
business activity. As noted in recent
issues of the SURVEY, corporate profit
margins, whether measured as a percent
of corporate output or as a percent of
national income originating in corporate
enterprise, have been unusually strong.
Wage and salary disbursements
Commodity- producing industriesManufacturing only
Distributive industries
Service industries
Government
_-
Other labor income _ _
_
417.4
442.1
463.0
453.9
459.9
465.2
473.0
479.1
278.8
110.8
87.5
72.9
43.4
51.8
297.1
118.5
94.2
76.6
46.4
55.6
312.3
123.8
98.3
79.8
49.5
59.3
304.5
120.1
95.5
78.4
48.2
57.8
310.8
123.6
98.2
79.6
49.1
58.6
314.6
124.9
99.0
80.3
50.0
59.5
319.4
126.5
100.5
81.0
50.6
61.3
323. 6
128.0
101.7
82.0
51.2
62.5
11.4
12.1
12.6
12.4
12.6
12.7
12.8
12.9
Proprietors' income
Business and professional
Farm
48.1
35.3
12.8
49.8
36.5
13.3
50.5
37.7
12.8
50.7
37.2
13.5
50.0
37.4
12.6
50.5
37.8
12.7
50.8
38.2
12.6
50.8
38.6
12.2
Rental income of persons
12.1
12.0
12.1
12.0
12.0
12.1
12.2
12.3
Dividends
Personal interest income
15.3
27.7
16.6
30.0
17.8
32.5
17.1
31.6
17.6
32.1
17.6
32.8
18.8
33.5
19.1
34.3
33.6
12.6
4.0
4.8
12 2
34.8
14.3
2.9
4.8
12 8
36.9
15.3
2.8
5.0
13.8
37.0
14.8
3.0
4.9
14.2
36.5
15.4
2.6
5.0
13.5
36.7
15.5
2.6
5.0
13.6
37.5
15.5
3.1
5.1
13.8
38.5
15.7
2.8
5.1
14.9
Transfer payments
Old-age and survivors insurance benefits
State unemployment insurance benefits
Veterans' benefits
Other
Manufacturing profits strong
In the current expansion, as in the
earlier advances, profits in all major
industries have shared in the general
uptrend.
Durable manufacturing profits have
continued to expand through the 12th
quarter since the cyclical trough; over
the past year earnings in durable manu-
1962
1964
--
Less: Personal contributions for social insurance..
9.5
10.2
11.8
11.5
11.7
11.9
12.0
12.3
Less: Personal tax and nontax payments
Federal
__
State and local
Equals : Disposable personal income
52.9
45.1
7.8
364.4
57.7
49.0
8.7
384.4
60.5
50.9
9.6
402.4
59.4
50.0
9.4
394. 5
59.9
50.4
9.6
400.0
60.8
51.1
9.7
404.4
62.1
52.2
9.9
410.9
60.4
49.9
10.6
418.7
Less: Personal consumption expenditures
Equals: Personal saving. _ __ ___
336.8
27.6
355.4
29.1
373.1
29.3
367.4
27.1
370.4
29.6
374.9
29.5
379.9
31.0
387.9
30.8
Addendum: Disposable personal income in constant
(1954) dollars
328.4
343.6
354.9
349.5
353.2
356.0
360.7
366.0
Table 4.—Gross National Product by Major Type of Product in Current and Constant Dollars (1-6, 1-7)
1961
1962
1963
1963
I
II
1964
III
IV
1961
1962
1963
1963
I
I
II
1964
III
Seasonally adjusted at annual rates
Seasonally adjusted a annual rates
Billions of current dollars
Billions of 1954 dollars
IV
I
Gross national product
518.2
554.9
585.1
571.8
579.6
588.7
600.1
608.0
447.7
474.8
492.9
485.3
489.4
495.1
501.7
506.4
Final sales
Inventory change. _
516.3
1.9
549.3
5.5
580.3
4.7
566.6
5.1
575.4
4.3
584.5
4.2
594.8
5.4
605.8
2.1
446.0
1.7
470. 1
4.8
488.5
4.4
480.4
4.9
485.6
3.8
491.1
4.0
496.7
5.0
504.3
2.1
259.1
257.3
1.9
278.3
272.8
5.5
291.6
286.9
4.7
286.8
281.7
5.1
289.8
285.6
4.3
292.4
288.2
4.2
297.2
291.8
5.4
301.2
299.1
2.1
233.2
231.5
1.7
249.1
244.4
4.8
259.3
254.9
4.4
256.4
251.4
4.9
257.8
254.0
3.8
259.8
255.8
4.0
263.4
258.3
5.0
266.7
264.6
2.1
93.4
93.8
-.4
104.4
101.5
2.9
111.8
109.6
2.1
107.5
106.3
1.1
112.6
109.6
3.0
111.8
110.0
1.8
115.1
112.6
2.5
116.8
116.0
.9
81.3
81.6
-.3
91.0
88.5
2.6
97.2
95.4
1.8
94.0
93.0
1.0
97.8
95.2
2.5
97.1
95.5
1.6
100.0
97.8
2.2
101.9
101.0
.8
165.7
163.5
2.2
173.9
171.3
2.6
179.9
177.2
2.6
179.4
175.3
4.0
177.3
176.0
1.3
180.7
178.3
2.4
182.1
179.2
2.9
184.4
183.1
1.3
151.9
149.8
2.0
158.1
155.9
2.2
162.1
159.5
2.6
162.4
158.4
3.9
160.0
158.8
1.3
162.7
160.4
2.3
163.4
160.5
2.8
164.8
163.6
1.2
__ .
200.4
214.5
228.0
222.5
226.5
229.6
233.6
237.1
165.3
174.4
180.7
177.8
180.2
181.8
183.1
184.2
__ _
58.6
62.1
65.4
62.5
63.3
66.7
69.3
69.7
49.2
51.4
52.9
51.2
51.4
53.5
55.3
55.5
Addendum: Auto product
17.5
21.7
24.1
23.3
23.9
23.2
25.9
25.8
14.5
17.9
20.0
19.5
19.7
19.2
21.3
21.5
Goods output
Final sales
Inventory change
Durable goods output __
Final sales.
Inventory change
_ _
Nondurable goods output
Final sales
Inventory change
Services ..
Construction. _ __
728-330 °—64-
_ _
BUSINESS STATISTICS
IHE STATISTICS here update series published in the 1963 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 1959 through 1962 (1951-62, 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 1963 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) arid a dagger (f), respectively; certain revisions for 1962 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the August 1963 issue. Also, unless otherwise noted, revised monthly data (for periods not shown herein) corresponding
to revised monthly averages are available upon request. 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,
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1961
1962 | 196-3
1961
I
Annual total
|
II
|
Data from private sources are provided
19 62
III
|
IV
I
II
1964
19 63
III
IV
I
II
III
IV
I
Seas onally adjusted c uarterly totals at a n n u a l r ates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
National income, total
Coi 1 1 pensat ion of employees, total
bil. $.
426. 1
453. 7
478. 1
411.1
423. 2
do
302. 1
322. 9
340. 4
294.0
300. 1
304. 4
309. 9
278 8
297 1
241. 6
10.8
44.7
95 7
312. 3
253. 0
11.0
48.3
28 0
271.2
220. 8
281 . 0
228. 8
10. 0
42.2
93 4
286. 1
40.4
22 8
276. 9
225. 8
10 0
41.2
°3 1
48.1
35.3
I9 8
12.1
49.8
36. 5
13 3
12.0
50. 5
37. 7
12 8
12. 1
47. 0
34.2
I9 8
12 1
47.6
35.
0
I9 6
1° 1
4«. 3
3.5. 7
49. 5
36.0
13.5
I9 1
4P>. 5
36.3
13 9
12 0
19 0
19 0
19 0
43.8
47.0
51.1
38. 8
43. 6
44.0
48.6
46.1
46.5
46.1
43.8
22.0
21.8
15.3
6.5
.0
46.8
22. 2
24.6
16.6
8.1
51.5
24.4
27.1
17.8
9.3
-.4
38. 5
19.4
19.2
15.0
4.2
.3
43.4
21.8
21 . 6
15.1
6.5
2
44.3
22.3
22 0
15.2
6 8
-.3
48.9
24.6
24.3
15.8
8.5
-.3
45. 9
21.7
24.2
16.2
8.0
.1
46.7
22.1
24.6
16.4
8.2
2
46. 2
21.9
24.3
16.5
7.8
-.1
Wages and salaries, total...
. do....
Private
..
do
Military ._
__
_ . do_ .
Government civilian
do
Supplements to wages and salaries
. do .
Proprietors' income, totaled
do
Business and profession aid"
do
Farm
_ .
_
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
.
bil $
Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax *
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
_ _
do
do
do
do
do
do
227. 0
10.2
41.6
"10! o
429. 0
19 fi
441.0
"ids
42. 8
93 8
444.7
316.0
290. 7
"nil
43.6
25 ?
452. 4
322. 5
455. 5
325. 3
462. 2
327. 7
466. 7
474. r,
482. 0
489. 1
" 496. 9
332. 0
33S. 7
312. S
347. 9
352. 5
319.4
258. 1
11.8
49. 5
28. 5
323. 6
261.1
11.8
50. 7
28.8
50. 8
38. 2
12.6
12 2
50.8
38. 6
12.2
12 3
304. 5
246. 7
10. 7
47. 1
310.8
50. 0
37.4
12.6
19 ()
.50. 7
37. 2
13. 5
I9 0
314. 6
255. 1
10. 8
48. 7
28. 2
50. 5
37.8
12. 7
49.3
48.8
50. 1
52 2
53. 2
" 55. 8
48.4
22.9
25. 5
17.1
8.4
.9
48.3
22.9
25. 4
17 1
8. 3
.4
51.0
24.2
26. 8
17.6
9.2
52. 2
21 7
27. 5
17.6
9.8
.0
54.3
25.8
28. fi
18.8
9.7
-1.1
» 56. 0
r> 24. 9
f 31. 1
" 19. 1
" 1 2. 0
-.2
296 8
241.7
11.0
44.1
299. 4
243. 7
10.7
45. 0
244! 7
10. f)
46. 3
49.6
36. 5
13.1
25. 9
49.8
36. 6
13.2
50. 3
36. 9
13.4
1 0. 8
47.8
27. 9
]9 ()
[9
I
do
20.0
22.0
24.1
19.1
19.8
20. 3
21.0
21.2
21.7
22.3
23.0
23. 3
23.7
24.3
25. 0
25. 6
do
518. 2
554.9
585. 1
500. 4
512. 5
521. 9
537. 8
544. 5
552. 4
556. 8
565. 2
571.8
579. 6
588. 7
600. 1
608. 0
Personal consumption expenditures, total.. do
336.8
355. 4
373. 1
330.7
334. 9
337. 9
343. 8
348.8
352. 9
356. 7
362. 9
367.4
370. 4
374. 9
379. 9
387. 9
43.6
17.1
19.2
155.1
28 6
81.1
11.9
138.0
20 4
44. 1
10.7
48.2
20.4
20.2
161.4
29 8
84.2
12.3
145. 7
91 5
46.6
11.3
51. 5
22.3
21.3
167.1
30. 3
86.7
13. 0
154. 5
22.6
49.2
12. 1
41.2
15.7
18.3
153. 9
28.2
80.6
11.9
135. 6
20.0
43.3
10.7
43.1
16,7
19.1
154. 5
28.2
81.0
11.7
137. 3
20.4
43.8
10.6
43.9
17.0
19.6
155.3
28. 6
81.2
11.9
138.8
20. 6
44.4
10.7
46.4
18.9
20. 0
47.3
19.7
20.0
50.6
22.0
20.9
165. 3
30. 2
85.8
12.8
151.4
22 2
48. 2
11.8
51.0
22.3
20.7
165. 9
29. 7
86.3
13.0
153. 5
22.4
48.8
12.1
50. 8
21.5
21.3
168. 6
30 9
87.2
13. 1
1 55. 5
22.8
49. 5
12.2
53. 6
23. 3
22.3
55. 5
24. 1
23. 1
158.9
29.7
82.7
12.1
142. 6
21.3
45.6
11.1
47.7
19.8
20.3
162. 5
29. 9
85. 0
12.3
146. 6
21.5
46.9
11.4
50. 5
22 2
20^6
156.9
29.3
81.6
11.9
140.5
20.8
45. 0
10.8
47.5
20.1
19.8
160.6
29.5
83. 9
12.2
144. 8
21.5
46.3
11.3
168.7
30. 4
87.4
13.2
172.4
32.1
89.2
33.3
160. 0
23.2
51.0
12.7
Gross national product, total..
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
163. 6
29.9
85.2
12.6
148. 9
21.8
47.6
11.6
157.7
23. 0
50.2
12.3
do
69.0
78.8
82.3
59.6
66.6
72.0
77.6
77.3
79.6
78.9
78.8
77.8
80. 7
83. 7
87.1
84.8
do
do
do
do
do
41.6
21.0
25.5
1 9
1 5
44.4
23.2
28.8
5 5
4.9
46.6
25. 0
30. 9
4. 7
4. 2
39.3
19.0
24.6
-4.3
-4.6
41.0
20.1
24.5
1.1
.8
42. 6
21.9
25.8
3.5
3.2
43.2
22.8
27.1
7.2
6.9
41.7
21.2
27.4
8.1
7.6
44.5
23.3
28.7
6.5
5.8
46.0
24.2
29.3
3.6
2.8
45. 0
23.7
29.9
4.0
3. 2
43.7
22.7
29.0
5. 1
4.3
45.8
24.8
30.7
4.3
3.6
47.9
25 9
31.6
4.2
3. 7
49. 2
26. 8
32. 5
5.4
5.1
49.7
27.1
32.9
2.1
3.9
do
do..."
do
4.4
27.5
23.1
3.8
28.9
25.1
4,5
30.7
26.2
5.4
27.5
22.1
4.3
26. 5
22 2
4.1
27.8
23. 7
4.0
28.3
24.2
3.3
27.9
24.6
4.4
29.5
25.0
4.1
29.4
25.3
3.3
28.8
25. 5
3.6
28. 6
24.9
4.8
30. 7
25.9
,3
31.4
27. 1
5.4
32.3
26. 9
0. 6
33. 6
27.0
Govt. purchases of goods and services, total.. do
Federal (less Government sales)
do
National defense 9
do
State and local
do
107.9
57.4
49.0
50.6
117.0
62 4
53.3
54.6
125. 1
66.3
56.7
58.8
104. 7
55. 4
47.5
49.3
106. 8
57. 1
49.0
49.7
107. 9
57. 1
48.6
50. 8
112.3
59. 8
50.9
52.5
115.1
61.8
52. 5
53. 3
115.5
61.9
52.9
53.6
117.0
62. 4
53. 5
54.6
120 2
63.6
54. 3
56. 6
123. 0
65. 5
56.4
123.8
66. 5
56.7
57.3
125. 7
127.7
66. 6
128.8
66. 9
57. 1
01 . 9
By major type of product:
Final sales, total
Goods, total
__ _
Durable goods
Nondurable goods
Services...
Construction
516. 3
257.3
93.8
163.5
200.4
58.6
549. 3
272. 8
101.5
171.3
214.5
62. 1
580. 3
286.9
109. 6
177. 2
228. 0
65.4
504.7
252. 8
90.6
162.2
195. 3
56.7
511.4
254. 6
92.1
162. 5
199.1
57. 7
518. 3
257. 6
94.3
163. 3
201. 5
59. 2
530. 5
264.0
98.2
1 65. 8
205.7
60.9
536. 3
268.1
99.9
168.2
209. 0
59.2
546.0
270.7
99.9
170.8
213.5
61.8
553. 1
274.8
102. 6
172.1
215. 2
63.1
561. 2
277. 4
103. 5
174.0
220. 2
63.6
566. 6
106. 3
175.3
222. 5
62.5
575 . 4
285. 6
109. 6
176.0
2 26. 5
63. 3
581 5
288. 2
110 0
178.3
229. 6
66. 7
594. 8
291.8
112.6
179.2
233. 6
69. 3
605. 8
299. 1
1 1 6. 0
183. 1
237. 1
69. 7
1.9
— 4
2.2
5.5
2
9
9
6
4. 7
2. 1
2.6
-4.3
-6.6
2.3
1.1
-1.5
2.6
3.5
7. 2
4. 7
2. 5
8.1
4.8
3.3
6.5
3.1
3.4
3.6
2. 5
1.2
4.0
1.3
2.6
5.1
1.1
4.0
4.3
3. 0
1.3
4.2
1.8
2.4
5.4
2. 5
2.9
2. 1
.9
1. 3
New construction..
Residential nonfarm
Producers' durable equipment
Change in business inventories
Nonfarm- __
..
Net exports of goods and services
Exports
Imports
Inventory change, total
Durable goods_ _
Nondurable goods_ _
r
Revised.
p Preliminary.
do
do
do....
Ido.._"
do
do
do
do
do
d" Includes inventory valuation adjustm ent.
9 0
L5
(3) Includ es data not sho\\ n separa tely.
56'. 7
59. 4
!
9 Gover nment sji es are n ot deduc ted.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1961
1962 |
1961
1963
Annual total
II
III
Mav 1904
1962
IV
I
II
1963
III
I
IV
II
1964
III
IV
II
I
GENERAL BUSINESS INDICATORS— Quarterly Series— Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
Gross national product total
bll $
447.7
474.8
492. 9
443.4
450. 4
463. 1
467.8
474.0
475. 6
481.4
485. 3
489. 4
495. 1
501.7
506. 4
rersonal consumption expenditures, total- .do
303. 6
317.6
328. 9
302.2
304. 5
309.2
313. 0
315.9
318.6
322. 9
325. 5
327.0
330.1
332. 8
339.0
41. 5
143.3
118.9
45.6
147.8
124.3
48.6
151. 3
129.0
40.9
142. 9
118.4
41.6
143. 5
119.4
44.1
144.7
120.4
44.7
146. 0
122. 3
44.7
147. 4
123.8
45.0
148. 8
124. 8
47.8
148.9
126. 2
48.1
150. 1
127.3
48.0
150.5
128.5
48.0
152. 6
129.6
50. 4
151. 9
130. 6
52. 5
154. 8
131.7
57.5
65. 2
67.7
55. 6
59.9
64.7
64.4
66.0
64.8
65. 2
64.6
60. 4
68. 6
71.4
68. 9
34.7
21.0
1. 7
36.7
23.8
4.8
37.8
34.2
20.2
1.2
35. 5
21.3
3.1
36.0
22. 4
6.3
34.7
22.7
7.0
36. 8
23. 6
5.7
37.8
24.2
2.9
36. 9
24.8
3.4
35. 7
24.0
4.9
37.3
25.3
3.8
38. 6
26. 1
4.0
39. 5
26.8
5.0
39. 8
27. 0
2. 1
Durable snoods
Nondurable goods
Services
_
do
do
-do
Gross private domestic Investment, totaL-.do
Ne \v con structlon
..
Producers' durable equipment
Change In business Inventories
do
do
do
4. 4
do
2. 3
1.8
2. 6
1.9
1.9
1.7
.9
2.6
2.3
1.4
1.8
2. 8
2.3
3. 3
4. 5
Govt purchases of goods and services, total do
Federal
do
State and local
do
84.3
44.8
39. 5
90.2
49.0
41.2
93. 7
50. 5
43.2
83.7
44.6
39.1
84.2
44. 6
39. 5
87.4
47.0
40.4
89.4
48.7
40.7
89.5
48.8
40.7
89.9
48. 8
41.1
91.9
49.6
42.3
93.4
50 6
42.9
93.2
51.0
42. 1
94.1
50.7
43.4
94.2
49.8
44. 4
94. 1
49. 3
44. 7
417 4
~2 9
3M <
442 1
57 7
J
,M 1
46} {}
On ">
40 J -}
ill V "
302 0
420 2
-4 0
307 2
428.0
54. 9
373. 1
433. 5
56. 2
377. 3
440, 7
57, 9
444.5
58. 1
380. 5
449.9
58. 5
391.4
453. 9
59. 4
394. 5
459. 9
59. 9
400.0
405. 2
00. 8
404. 4
473.0
02. 1
410.9
479. 1
00. 4
41S. 7
29 2
29. 3
28. 5
29.8
29. 7
27. 1
29. 0
31. 0
30. S
Vet exports of eroods and services
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Ratfs
Personal Income, total
bll. $_
Less: Personal tax and nontax payments
do
Fouals: Disposable personal Income
do
porsonal savin^ §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unfi<li usted quarterly or annual totals:
Ml Indnstrios
'
Ml. $..
ATpnufp^turln 0 1
DuraMe "oods industries
Nondurable Broods Industries..
do
_do
do
29 1
OQ
(^
34. 37
37. 31
39. 22
8.61
8. 65
9.54
8. 02
9. 50
9.62
10.18
8. 25
9.74
10.14
11.09
13. OS
14.08
7. 03
15.69
7. 85
7. 84
3. 46
1.58
1.88
3.34
1. 50
l.Si
3.SS
1.79
2.09
3.14
1 . 44
1 . 09
3.69
1.77
1.92
3. 72
1.79
1.93
4.13
2.03
2.10
3.27
1.02
3.92
1. 90
1.95
3. 95
1.90
1.99
4. 56
2.31
2. 25
3. 05
1. SI
1.84
4. 45
•2. 32
2. 13
1. 08
. 85
2. 07
5. 48
3. 03
9. 52
1 . 04
1. 10
1. 92
5. 05
3. 79
10. U3
.26
.18
.48
1.39
.81
2.04
. 20
. 10
. 47
1 . 00
.88
2. 00
0"
!26
.60
1.37
.93
2.37
.28
.24
.50
1. 54
.87
2.48
. 27
'.20
.50
1.52
.95
2.60
.24
. 21
. 39
1.04
.85
2.26
. 20
.28
.54
1.40
OJ
1 . 50
.78
2.16
. 26
. 10
. 50
1.54
88
2. 32
.28
.33
.54
1.61
1.06
. 24
. 29
.48
1. 12
. 28
.41
. 68
1. 51
2^41
.29
.45
1. 00
.93
2.64
7. 40
.9$
1
9. 15
2
10.99
MinSnc.
..._
Railroads
Transportation, other than rail
Public utilities
Commnnicaf ions
Commercial and other
do
do
do
do
do
do
Sens. adj. qtrly. totals at annual rates:
\!1 industries
do
33. 50
34.70
35. 40
35. 70
36. 95
38.35
37. 95
36. 95
38.05
40. 00
41. 20
141.25
- 42. 70
do
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
7.30
7.70
14. 85
7. 35
7.50
15.30
7. 65
7. 05
15.95
8.00
8.00
16. 45
8.30
8.15
16. 65
8.30
8. 35
17.40
9. 00
8.40
1. 00
. 70
1. 80
5. 50
3.15
7.90
1. 00
.65
1.90
5. 65
3.20
8.60
1.00
. 60
1.95
5.55
3. 35
9.00
1.15
. 70
2. 05
5. 15
3.70
8.75
1.05
.95
2. 25
5' 40
3.65
9.25
1.10
1.00
2.00
5. 75
3.60
9.85
1.00
.80
1.90
5. 45
3. 60
10.20
1.05
.90
1.70
5.20
3. 55
9.65
1.00
1.00
2. 05
5. 45
3. 65
9.65
1.05
1.20
1.85
5. 90
3.85
10. 20
1.05
1.35
2. 10
5.80
4.05
10. 45
1.05
1. 25
2. 15
5. 70
1.10
1.40
2. 45
6.00
314.40
3 14. 35
4, 797
4, 750
4. 700
4, 770
4. 780
4,790
4, 800
4,815
4. 825
4. 835
4. 850
4. 860
4,875
35, 544
7,535
7,917
8,653
8, 246
8, 316
8,214
8,478
8. 463
9,753
8.373
8, 955
14, 497 16, 145
2,934 1 3, 028
5, 436
5,791
16. 962
2, 880
6. 276
3,404
764
1,338
3, 826
680
1,365
3.881
717
1,415
3,942
754
1,423
4.030
748
1,444
4,127
732
1,423
4, 046
794
1,501
4. 014
748
1,508
4. 182
725
1,546
4,392
708
1.594
4.374 " 4, 340
699
1.6?8
705
4,056
736
4,281
812
4, 532
171
856
173
1,029
174
1,186
191
1,075
182
1,078
176
1,045
187
1,083
211
1, 053
211
1.355
195
1,010
195
1,114
4,150
1,598 !
1,011
1,541
3,273
1, 557
1,209
507
4,082
1,799
1,641
642
1,002
344
219
439
844
399
234
211
1,280
397
464
419
861
199
357
305
834
506
329
711
359
188
164
867
493
335
39
929
501
512
-84
1.734
488
620
626
474
209
294
— 1>9
945
601
215
129
Duribl 0 good s industries
G
^°°
Railroads
Transportation other than rail
Public utilities'
j
nua.; o . ---
1. 85
3^22
S. 40
do
do
do
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted)
thous
* 4. 713
* 4, 755
U.S. BALANCE OF INTERNATIONAL
PAYMENTS!
Quarterly Data are Seasonally Adjusted
U.S. payments, recorded
mil. $.. 31, 778 ! 33,254
Imports:
Merchandise
Military expenditures
Other services. _ _
do
do
do
Remittances and pensions.
do
4
! 16
^3.37
Direct investments
Long-term portfolio
Short-term
do
-do
do
f S receipts recorded
do
30, 313
32, 093
33, 379
7,956
7,247
7,682
7, 688
7,901
8,327
8,177
7,715
8.344
8,534
8, 786
do
do
19,913
8, 398
20, 479
9,311
21, 902
9, 701
4,755
2,088
4,987
2,120
5,121
2,152
5,022
2,184
5,262
2, 348
5,270
2,280
4,925
2,499
5.010
2, 442
5.494
2,409
5. 559
2.362
5. 839 * 6, 074
2. 488
Repayments on TT S Govt loans
do
Foreign capital other than liquid funds (net).do
1, 274
728
1,283
1, 020
974
802
851
262
99
41
196
213
155
327
237
54
601
176
290
463
176
87
190
251
419
194
189
270
421
-390
-670
15
-971
-303
-558
-27
-415
-37
113
469
-301
-492
-748
-135
-1,409
121
161
-386
-169
-95
31
-655
-1, 274
-585
-452
-356
-793
-883
-1,288
-225
-264
Exports:
Merchandise
Services and military sales.. _
Excess of recorded receipts or payments (— ).._do
Unrecorded transactions (net)
do
-1,465 -1, 161 -2, 165
-905 -1,025
-495
Total net receipts or payments ( — )
do
Net receipts or payments (— ), incl. transactions in
nonmarketable, medium-term convertible Govt.
securities
mil $
-2,370
r
1
2
-2, 186 -2,660
— 1 Q.'iS
Revised.
» Preliminary.
Estimates for Jan.-Alar. 1964 based on anticipated capital expenditures of business.
Estimates for Apr .-June 1964 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1964 are as follows (in bil. $): All industries, 43.19;
manufacturing, total, 17.72; durable goods industries, 8.97; nondurable goods industries,
8.75;
mining, 1.04 ; railroads, 1.38; transportation, 2.06; public utilities, 6.01; commercial and
other (incl. communications), 14.98.
3 Includes communications.
3
3." 60
p -41
533 -1,136
p -41
-50
-239
Unadjusted. Data represent firms in oper ation as of Jan. 1 ; estimat e for Jai . 1,1963,
is based on incomplete data.
§Personal saving is excess of disposable incoriHe over p ersonal c onsump ion expc^nditures
shown as a component of gross national product on p. S-l.
larterly reviews n the .\ Lar., Jim e, Sept.,
{More complete details are given in the qi
and Dec. issues of the SURVEY.
4
@FedFRASER