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Gross National Product
1963
1962

1963

1964

IV

1964
I

II

1963
III

IV

1962

1963

1964

IV

1964
I

II

III

IV

Seasonally adjusted at annual rates
TABLE 1.— GROSS NATIONAL PRODUCT
(1-3,1-4)

Billions of dollars

Gross national product

Billions of dollars, unadjusted for seasonal variation

556.2

Personal consumption expenditures
Durable goods
Nondurable goods
Services ___ _. _ __ _ _ _

_ _ _

__

Gross private domestic investment

583.9

622.6

599.0

608.8

618.6

628.4

634.6

556.2

583.9

622.6

158.9

146.7

154.9

152.5

168.3

356.8

__ _

375.0

399.3

381.3

390.0

396.1

404.6

406.5

356.8

375.0

399.3

103.4

93.6

97.6

97.9

110.4

48.4
162.0
146. 4

52.1
167.5
155.3

57.0
177.3
165.1

53.6
168.9
158.8

55.9
172.9
.161. 1

57.0
175.3
163.8

58.7
179.5
166.4

56.3
181.3
169.0

48.4
162.0
146.4

52.1
167.5
155.3

57.0
177.3
165. 1

16.2
47.9
39.3

12.6
40.2
40.8

14.2
42.5
40.9

13.1
43.2
41.6

16.9
51.6
41.8

79.1

82.0

87.7

87.1

85.9

87.2

87.3

90.4

79.1

82.0

87.7

21.1

21.1

22.7

21.7

22.0

44.2

46. 6

48.9

48.3

49.2

48.9

48.9

48.7

44.2

46.6

48.9

12.6

10.3

12.4

13.4

12.7

23.6
20.6

25.2
21.3

26.0
22.9

26.2
22.1

26.9
22.3

26.2
22.7

25.7
23.1

25.1
23.6

23.6
20.6

25.2
21.3

26.0
22.9

6.7
5.8

5.2
5.1

6.9
5.5

7.3
6.1

6.5
6.2

Producers' durable equipment

29.0

31.0

35.1

32.4

34.2

34.6

35.6

36.0

29.0

31.0

35.1

8.6

7.8

9.3

8.5

9.5

Change in business inventories

5.9

4.4

3.7

6.4

2.5

3.7

2.8

5.7

5.9

4.4

3.7

0

3.0

.9

-.2

-.2

5.3
.6

3.9
•5

3.6
.1

6.0
.4

2.2
.3

3.4 '
.3

2.7
.1

6.1
-.4

5.3
.6

3.9
.5

3.6
.1

-.1
.1

2.9
.1

.8
.1

-.3
0

-.1
-.1

Xew construction _
Residential nonfarm _ _ _ _ _ _ _ _ _ _ _
Other

Nonfarm
Farm

__ _ _ __ _

_ _ _ _ _

Net exports of goods and services
Exports
Imports

_

4.0

_

Federal

National defense
Other
_Less: Government sales

_ __

--_- _ _

State and local

7.7

5.7

7.0

7.7

4.0

4.4

7.0

1.8

2.0

1.6

1.0

2.4

32.6
26.9

34.5
26.8

33.7
27.9

35.7
28.7

37.1
29.4

29.2
25.2

30.7
26.3

35.2
28.2

8.5
6.7

8.5
6.4

8.7
7.1

8.4
7.5

9.6
7.2

122.6

128.6

124.8

125.2

129.6

129.5

130.0

116.3

122.6

128.6

32.6

30.0

33.1

31.9

33.6

64.7

65.5

64.9

64.3

67.1

65.5

65.3

62.9

64.7

65.5

17.2

15.5

17.4

15.7

16.9

53.6
10.2
.9

_ _ _ _ _

5.8

35.2
28.2

62.9

Government purchases of goods and services

7.0

30.7
26.3

116.3

__

4.4

29.2
25.2

55.2
10.3
.8

55.4
11.2
1.1

55.3
10.5
.9

54.0
11.5
1.2

57.0
11.0
.9

55.2
11.2
.9

55.3
11.3
1.2

53.6
10.2
.9

55.2
10.3
.8

55.4
11.2
1.1

14.0
3.3
.2

13.1
2.6
.3

15.5
2.2
.3

13.0
3.0
.2

13.8
3.4
.3

53.5

_ _ -_-

57.9

63.0

59.9

60.9

62.5

64.1

64.6

53.5

57.9

63.0

15.5

14.5

15.6

16.2

16.6

TABLE 2.— GROSS NATIONAL PRODUCT
IN CONSTANT DOLLARS, AND IMPLICIT
PRICE DEFLATORS (1-5, VII-3)
Gross national product

492.6

516.0

502.0

508.0

513.5

519.6

522.7

116.7

118.5

120.7

119.3

119.8

120.5

121.0

121.4

318.5

330.6

347.5

334.4

340.9

345.0

351.8

352.4

112.0

113.4

114.9

114.0

114.4

114.8

115.0

115.4

45.7
148.3
124.5

49.3
151.6
129.7

54.2
158.8
134.6

50.8
152.1
131.6

53.1
155.2
132.6

54.0
157.4
133.7

55.6
160.9
135.3

53.9
161.9
136.6

105.9
109.2
117.5

105.6
110.5
119.8

105.2
111.6
122.7

105.6
111.1
120.7

105.4
111.4
121.5

105.7
111.4
122.5

105.5
111.6
123.0

104.3
112.0
123.7

476.4

___

Personal consumption expenditures
Durable goods
Nondurable goodsServices

Implicit price deflators for seasonally adjusted GNP, 1954=100

GNP in billions of 1954 dollars

_.

Gross private domestic investment

65.9

67.7

71.0

71.7

70.1

70.8

70.4

72.7

36.7

37.9

38.9

39.0

39.6

39.2

38.6

38.2

120.6

122.9

125.7

123.9

124.3

124.9

126.6

127.3

20.1
16.5

21.2
16.7

21.3
17.6

21.8
17.2

22.3
17.3

21.6
17.5

20.9
17.7

20.3
17.9

117.2
124.8

119.1
127.6

122.1
130.1

120.2
128.7

120.7
128.8

121.4
129.1

122.9
130.9

123.4
131.7

Producers' durable equipment

24.0

25.6

28.8

26.8

28.1

28.3

29.2

29.5

120.9

120.9

121.9

121.0

121.7

122.0

121.9

121. 9

Change in business inventories

5.2

4.1

3.3

5.9

2.4

3.3

2.5

5.0

4.8
.4

3.6
.5

3.2
.1

5.5
.4

2.1
.3

3.0
.3

2.4
.1

5.4
-.4

New construction

_

.

_

_

_____

Residential nonfarm
Other

Nonfarm
Farm
Net exports of goods and services

2.2

Federal.
State and local

_

4.6

3.5

5.4

3.4

4.5

5.2

29.1
26.8

33.4
28.7

30.9
27.4

32.7
27.3

31.9
28.5

33.8
29.2

35.1
29.9

105. 9
99.5

105.7
98.1

105. 6
98.2

105.6
98.1

105. 6
98.2

105.6
98.2

105.6
98.2

105.6
98.2

89.8

Government purchases of goods and services

2.2

27.5
25.3

Exports
Imports

92.1

92.8

92.4

91.6

94.3

92.8

92.4

129.6

133.1

138. 5

135.2

136.8

137.4

139.5

140.7

49.4
40.3

49.7
42.4

48.2
44.6

48.9
43.4

47.8
43.8

49.8
44.5

47.8
45.0

47.3
45.1

127.2
132.5

130.2
136.4

136.0
141.3

132.6
138.1

134. 5
139.2

134. 7
140.5

137.0
142.2

138.1
143.4

TABLE 3.— GROSS NATIONAL PRODUCT
BY MAJOR TYPE OF PRODUCT (1-6, 1-7)

Billions of 1954 dollars, seasonally adjusted at annual rates

Billions of dollars
556.2

583.9

622. 6

599.0

608.8

618.6

628.4

634.6

476.4

492.6

516.0

502.0

508.0

513.5

519.6

522.7

550.3
5.9

579.5
4.4

618.9
3.7

592.6
6.4

606.4
2.5

614.9
3.7

625.7
2.8

628.8
5.7

471.2
5.2

488.5
4.1

512. 7
3.3

496.1
5.9

505.6
2.4

510.2
3.3

517.0
2.5

517.7
5.0

279.5

290.2

309.3

296.7

300.7

308.0

313.3

315.3

250.3

258. 1

273.1

263. 2

266.2

271.8

276.3

278.3

Inventorv change

273 6
5.9

285.8
4.4

305.6
3.7

290.3
6.4

298.2
2.5

304.3
3.7

310.5
2.8

309.6
5.7

245. 1
5.2

254.0
4.1

269.8
3.3

257.3
5.9

263.8
2.4

268.5
3.3

273. 7
2.5

273.3
5.0

Durable goods output
Final sales
Inventory change

105 3
102 3
3.0

110.4
108.2
2. 2

120. 0
118.0
2.0

113.4
110.4
3.0

114.9
114.3
.7

121.4
119.0
2.5

122.0
120.7
1.3

121.6
117. 9
3.7

91.7
89.2
2.6

96.3
94.4
1.9

104.5
102.8
1.7

99.0
%.4
2.6

100.4
99.8
.6

105. 4
103.3
2.1

106.0
104.9
1-1

106.2
103.2
3.0

Nondurable goods output.
Final sales
Inventory change

174.2
171.3
2.9

179.8
177.6
2.2

189.3
187.6
1.7

183. 3
179.9
3.4

185. 7
183.9
1.8

186.6
185.4
1.2

191.3
189.8
1.5

193.8
191.7
2. 1

158.6
155. 9
2.6

161.8
159. 6
2.3

168.6
167.0
1.6

164. 2
160.9
3.3

165.8
164.0
1.8

166.4
165.2
•1.2

170. 3
168.8
1.5

172.1
170.1
2.0

214.7

228.4

244.3

234.5

239. 6

241.7

246.0

250.3

174.8

181.4

188.3

184.2

186.8

186.7

188.9

190.6

62.0

65.2

69.0

67.8

68.6

68.9

69.2

69.0

51.3

53.0

54.6

54.6

55.0

55.0

54r4

53.9

21.9

24.4

25.5

25.6

25.8

26.4

26.8

23.0

18.3

20.4

21.2

21.6

21.7

22.0

22.1

19.1

Gross national product
Final sales
Inventory change
Goods output

Services _
Construction.

_ _ _ _ _ _

Addendum: Auto product

16




TABLE 5.-CORPORATE GROSS PRODUCT
[Billions of dollars]

TABLE 4.—FARM GROSS PRODUCT
Billions of 1954 dollars

Billions of dollars

1962

1963

1962

1964

1963

___

39.8

40.5

40.0

40.2

Less: Value of intermediate products
consumed total

*18.4

18.9

18.8

18.5

19.0

21.7

21.2

21.8

22.6

22.5

1962

1963

1964

Equals' Farm GNP

41.5

IV

I

II

III

IV

19.1

21.5

Total value of farm output

41.5

1964

1963

1964

Personal, Government, and Foreign
Transactions on GNP Accounts

Seasonally adjusted at annual
rates
Corporate gross product _
Indirect taxes- -Capital consumption allowances
Income originating in corporate
business
_ _
C ompensation of employees
Net interest
Profits before tax, including inventory valuation adjustment *_

309.0 323.9 345.1 331.7 337.4 343.7 348.6
32.9 34.6 36.7 35.4 35.8 36.5 37.1
30.5 31.8 33.7 32.4 33.0 33.4 33.8

n.a.
37.4
34.4

245.7 257.5 274.7 263.9 268.6 273.8 277.7
198.9 208. 5 220.0 212.4 214.7 218.3 221.8
.8
.7
.8
.8
.9
.7
,7

n.a.
225.3
.8

55.1

n.a.

45.9

48.3

53.9

50.7

53.1

54.8

NOTE.—Back data published in the July 1964 Survey.
Excludes profits originating in the rest of the world.

1

TABLE 6.—PERSONAL CONSUMPTION EXPENDITURES BY MAJOR TYPE (II-6, II-7)
[Billions of dollars]

1964

1963

1962

1963

1964

IV

I

II

III

IV

Seasonally adjusted at annual rates
Goods and services, total

1964

1963
IV

I

II

III

IV

Unadjusted for seasonal variation

356.8

375.0

399.3

381.3

390.0

396.1

404.6

406.5

103.4

93.6

97.6

97.9

110.4

48.4

52.1

57.0

53.6

55.9

57.0

58.7

56.3

16.2

12.6

14.2

13.1

16.9

20.6
20.2
7.6

22.7
21.4
8.0

24.2
24.0
8.8

23.2
22.3
8.2

24.3
23.1
8.5

24.1
24.2
8.8

25.6
24.2
8.8

22.8
24.5
9.0

6.3
6.8
3.1

5.8
5.2
1.6

6.7
5.6
1.9

5.6
5.8
1.8

6.0
7.5
3.4

Nondurable goods, total

162.0

167.5

177.3

168.9

172.9

175.3

179.5

181.3

47.9

40.2

42.5

43.2

51.6

Food and beverages
Clothing and shoes
Gasoline and oil
Other

84.6
29.9
12.3
35.2

87.1
30.7
12.8
36.9

91.7
33.4
13.5
38.7

87.8
30.9
13.0
37.3

89.7
32.1
13.3
37.8

90.6
33.2
13.5
38.0

92.8
33.8
13.5
39.3

93.6
34.3
13.7
39.7

22. 6
10.3
3.2
11.7

21.4
6.8
3.1
8.9

22.6
7.8
3.5
8.6

23.6
7.4
3.6
8.7

24.1
11.5
3.4
12.6

146.4

155.3

165.1

158.8

161.1

163.8

166.4

169.0

39.3

40.8

40.9

41.6

41.8

46.5
21.6
11.3
67.0

48.9
22.7
11.7
72.0

51.5
24.4
12. 2
77.1

49.8
23.0
11.8
74.1

50.5
23.5
12.0
75.1

51.1
24.0
12.2
76.4

51.8
24. 8
12.2
77.7

52.4
25.1
12. 3
79.1

12.5
5.7
2.9
18.3

12.6
6.7
2.8
18.7

12.8
5.9
3.1
19.1

12.9
5.6
3.2
19.8

13.1
6.1
3.1
19.5

Durable goods, total
Automobiles and parts
Furniture and household equipment
Other

Services, total

_

-

'. _. .

Housing
Household operation
Transportation
Other

_ _ _ _ _

TABLE 7.— GOVERNMENT RECEIPTS AND EXPENDITURES (IH-3, IH-4)
Federal Government receipts

_

Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals. . _
Contributions f o r social insurance_ _ _ _
Federal Government expenditures

._

_ -

106.4

113.6

113.8

117.2

114.8

112.3

114.0

N.A.

26.5

28.1

32.5

27.4

N.A.

_
_ __

49.1
21.8
15.1
20.5

51.9
23.0
15.6
23.0

49.0
24.0
16.4
24.4

53.4
24.4
15.9
23.5

51.2
23.9
15.9
23.9

47.3
24.4
16.4
24.2

48.2
24.4
16.6
24.7

49.3
N.A.
16.6
25.0

12.0
6.3
4.2
4.0

11.6
5.6
3.7
7.2

14.8
5.9
4.3
7.5

12.0
6.0
4.0
5.4

10.6
N.A.
4.4
4.3

110.4

116. 6

117.2

120.2

119.2

120. 1

30.0

28.8

30.5

29.5

30.5

17.2

16.9

_ .

115.2

119.2

Purchases of goods and services

62.9

64.7

65.5

64.9

64.3

67.1

65.5

65.3

15.5

17.4

15.7

Transfer payments
To persons
Foreign (net)

28.3
26.7
1.6

29.9
28.3
1.6

31.0
29.3
1.8

30.3
28.6
1.7

31.1
29.5
1.5

30.7
29.1
1.6

30.8
29.1
1.7

31. 5
29.4
2.2

7.3
7.0
.4

8.0
7.6
.4

7.7
7.3
.4

7.6
7.2
.4

7.7
7.2
.5

8.0
7.1
4.2

9.1
7.7
3.8

10.4
8.4
3.9

9.9
7.9
3.5

9.8
8.3
3.7

10.4
8.4
3.6

10.6
8.4
3.9

10.7
8.4
4.2

2.6
2.0
.9

2.3
2.1
1.0

2.4
2.1
.8

2.9
2.1
1.2

2.8
2.1
1.0

-4.1

-1.5

-5.3

.6

-2.4

-7.8

-5.2

N.A.

-3.5

-.7

2.0

-2.1

N.A.

59.5

64.4

69.8

66.7

67.8

69.2

70.6

N.A.

19.2

16.0

17.6

16.0

N.A.
2.5
N.A.
13.5
1.1
2.8

Grants-in-aid to State and local governments __
Net interest paid _ _
Subsidies less current surplus of government enterprises
Surplus or deficit (— ) on income and product account _ _ _
State and local government receipts

_ _ „

Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals _
Contributions for social insurance.
Federal grants-in-aid

_

State and local government expenditures
Purchases of goods and services
Transfer payments to persons
Net interest paid
Less: Current surplus of government enterprises
Surplus or deficit (— ) on income and product account

10.6
1.6
43.1
4.2
10.4

9.9
1.6
41.3
4.0
9.9

10.2
1.6
42.1
4.1
9.8

10.5
1.6
42.6
4.2
10.4

10.6
1.6
43.4
4.3
10.6

10.9
N.A.
44.1
4.3
10.7

2.4
.4
12.8
1.0
2.6

2.9
.4
9.5
1.0
2.3

3.0
.4
10.7
1.0
2.4

2.2
.4
9.4
1.1
2.9

62.0

67.3

64.0

65.3

66.9

68.3

68.9

16.5

15.6

16.7

17.3

17.7

57.9
6.0
.8
2.8

63.0
6.4
.9
3.0

59.9
6.1
.8
2.8

60.9
6.3
.9
2.8

62.5
6.4
.9
2.9

64.1
6.4
.9
3.0

64.6
6.5
.9
3.1

15.5
1.5
.2
.7

14.5
1.6
.2
.7

15.6
1.6
.2
.7

16.2
1.6
.2
.8

16.6
1.6
2
'.8

2.4

2.4

2.7

2.4

2.3

2.3

N.A.

2.7

.4

.8

-1.3

N.A.

8.8
1.4
37.8
3.5
8.0

9.6
1.5
40.2
3.9
9.1

57.3
53. 5
5.6
.8
2.6
2.1

TABLE 8.—FOREIGN TRANSACTIONS IN THE NATIONAL INCOME ACCOUNT (IV-2, IV-3)
Receipts from abroad

29.2

30.7

35.2

32.6

34.5

33.7

35.7

37.1

8.5

8.5

8.7

8.4

9.6

Exports of goods and services

29.2

30.7

35.2

32.6

34.5

33.7

35.7

37.1

8.5

8.5

8.7

8.4

9.6

29.2

30.7

35.2

32.6

34.5

33.7

35.7

37.1

8.5

8.5

8.7

8.4

9.6

25.2
1.6
2.4

26.3
1.6
2.8

28.2
1.8
5.3

26.9
1.7
4.1

26.8
1.5
6.2

27.9
1.6
4.1

28.7
1.7
5.2

29.4
2.2
5.5

6.7
.4
1.4

6.4
.4
1.6

7.1
.4
1.2

7.5
.4
.5

7.2
.5
1.9

Payments to abroad

_

Imports of goods and services
Net transfer payments by Government
Net foreign investment
„.




17

18

SURVEY OF CURRENT BUSINESS

February 1965

National and Personal Income
(Billions of dollars)

1963
1962

1963 1964?

IV

1964
I

II

III

IV P

1962

1963 1964

Seasonally adjusted at annual
rates

455.6 478.5 509.8 490.0 498.4 507.1 514.5

Compensation of employees
__ 323.1 340.3 361.7 347.7 352.5 358.6 364.8
Wages and salaries _ _ _ _
297.1 312.1 331.6 318.8 323.2 328.7 334.4
Private
_ _
241.6 252.9 267.4 257.6 260.8 265.3 269.4
Military.
10.8 10.9 11.8 11.7 11.7 11.7 11.8
Government civilian _
_ _ 44.7 48.3 52.4 49.6 50.7 51.7 53.2
Supplements to wages and salaries. . -25.9 28.2 30.1 28.8 29.4 29.9 30.4
Employer contributions for social
insurance
13.6 15.1 16.0 15.4 15.7 15.9 16.2
Other labor income
12.3 13.1 14.1 13.4 13.7 14.0 14.2
Employer contributions to private pension and welfare funds- 9.7 10.4
Other
2.6
2.7
Proprietors' income
Business and professional
_ __
Income of unincorporated enterprises
Inventory valuation adjustment. _.
Farm
_ _ _
_ _

49.8
36.6

50.6
37.6

52.0
39.3

36.6
0
13.2

37.6
0
13.0

39.3
0
12.7

13.2

12.6

12.6

Rental income of persons

12.2

12.3

12.4

12.4

12.4

12.4

-

51.5
38.3

51.2
38.6

51.7
39.1

52.1
39.6

IV

I

II

III

IV P

Seasonally adjusted at annual
rates

TABLE 9.-NATIONAL INCOME BY TYPE OF INCOME (1-8, 1-9)
National income

1964

1963

TABLE 12.—RELATION OF GROSS NATIONAL PRODUCT, NATIONAL
INCOME, AND PERSONAL INCOME (1-17,1-18)

n.a.
370.6
339.9
274.0
11.9
54.0
30.7

16.2
14.5

Gross national product

556 2 583.9 622 6 599 0 608 8 618 6 628 4

Less: Capital consumption allowances 48.7

60.7
2.5
na

1.6

12.9

12.4

12.5

57.9
57.9
26.0
31.9
19.8
12.1
-.1

58.1
58.0
26.0
32.0
20.0
12.0
.1

n.a.
n.a.
n.a.
n.a.
20.2
n.a.
-.7

Netinterest

22.1

24.4

26.8

25.4

25.9

26.5

27.1

634 6

Less: Indirect business tax and nontax
liability
52.8 55.9 59.4 57 3 57.9 59.0 60.1
Business transfer payments
2.4
2.4
2.5
2.4
2.5
2.5
2.5
Statistical discrepancy
—1.8 -2 7 — 1 7 — 1 8 — 1 6 —2 4 — 1 4

12.6

56.4
56.6
25.4
31.2
19.4
11.8
-.2

53.1

54.4

Less: Corporate profits and inventory
valuation adjustment _ _
48.4
Contributions for social insur23.9
ance
Excess of wage accruals over disbursements _ _ _ _
__ _ 0

57.0 53.1
57.2 54.3
25.6 26.0
31.6 28.3
19.8 19.1
11.8 9.2
-.2 -1.2

52.5

580.2

Equals: National income

50.8
51.3
24.6
26.7
18.0
8.7
-.4

51.7

507.5 533.1 569.1 547. 3 556.3 565.5 574.8

Equals: Net national product-

52.8
39.9

48.4
48.2
23.2
25.0
16.5
8.5
.3

53.4

53.7

Plus: Subsidies less current surplus of
government enterprises _ __ _

Corporate profits and inventory valuation adjustment
_ _ _ _ _
Profits before tax__
Profits tax liability
Profits after tax
Dividends
_
_ _ _
Undistributed profits
Inventory valuation adjustment

50.8

1.0

.9

.7

1.0

.7

.9

455.6 478.5 509 8 490.0 498. 4 507.1 514.5

1.0
n.a.
n.a.

50.8

57.0

53.1

56.4

57.9

58.1

26.9

28.7

27 5

28.0

28.4

29.0

0

0

0

0

0

34.3

35.7

34.7

35.9

35.5

35.5

35,9

9.3
19.8
2.5

9.2
20.0
2.5

20.2
2.5

_ _ _ 442.4 464.1 491.4 474.5 480.9 487.9 494.5

502.2

.1

29.3
-. 1

27.6

_ __

Plus: Government transfer payments
to persons
_ _ __ _
Net interest paid by government
- -_
Dividends
_ _ _ ~
Business transfer payments
Equals: Personal income

32.3
8.0
16.5
2.4

8.6
18.0
2.4

9.2
19.8
2.5

8.8
19.1
2.4

9.1
19.4
2.5

9.3

TABLE 13.—PERSONAL INCOME AND ITS USE (II-2)
TABLE 10.—NATIONAL INCOME BY INDUSTRY DIVISION (1-11)

442. 4 464.1 491.4 474.5 480.9 487.9 494.5

Personal income
All industries, total
Agriculture, forestry, and fisheries
Manufacturing. _ _
__ _
Durable goods industries _ _
Nondurable goods industries
Wholesale and retail trade
_ _
Finance, insurance, and real estate
Transportation
Communications and public utilities _ _
Services
Government and government enterprises
Other

455.6 478.5 509.8 490.0 498.4 507.1 514.5

18.9

18.6

n.a.

130.8 137.4 147. 0 140.6 144. 2 147.4 148.5
78.5 82.9 88.8 85.4 87.0 88.8 90.0
52.3 54 4 58 2 55.2 57.1 58 6 58 5
73.8 77.4 82.0 79.5 80.2 81.5 82.8
46.3 48.7 51.1 50.0 50.3 50.8 51.3
18.8 19.5 20.3 19.7 19.7 20.1 20.6
18.6 19.3 20.5 19.7 19.8 20.1 20.9

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

60.9

n.a.

55.6
60.3
32.4

18.9

59.5
64.5
33.4

18.6

64.1
70.0
36.3

19.0

66.8
34.0

18.5

n.a.

62.2
68.0
35.6

18.6

63.7
69.1
35.8

64.5
70.8
36.4

n.a.
n.a.

TABLE 11.—NATIONAL INCOME BY CORPORATE AND NONCORPORATE
FORM OF ORGANIZATION (1-14)
National income

455.6 478.5 509.8 490.0 498.4 507.1 514.5

n.a.

Income originating in corporate busi245.7 257.5 274.7 263.9 268.6 273.8 277.7
ness

n.a.

Compensation of employees _ _ _ 198.9 208.5 220.0 212.4 214.7 218.3 221.8
Wages a n d salaries
_ _ _ _ _ 180.9 189.2 199.6 192.7 194.7 198.0 201.1
Supplements to wages and salaries. 18.0 19.3 20.4 19.7 20.0 20.3 20.7

225.3
204.5
20.8

Corporate profits and inventory
valuation adjustment *
Profits before tax 1
Profits tax liability
Profits after tax 1
Inventory valuation adjustment- _
Net interest
Income originating outside corporate
business
1

45.9
45.6
23.2
22.4
.3

48.3
48.8
24.6
24.2
-.4

.9

53.9 50.7
54.1 51.9
25.6 26.0
28.5 25.9
-.2 -1.2

.7

.7

.7

54.8 55.1
54.8 55.0
26.0 26 0
28 8 29.0
-.1
.1
.8

.8

n.a.
n.a.
n.a.
n.a.
-.7
.8

240.5

502.2

297.1 312.1 331.6 318.8 323.2 328.7 334.3
118.5 123.3 129.8 125.5 126.7 128.9 130.8
94.2 98.0 103.0 99.9 100.6 102.4 103.8
76.6 80.3 84.9 81.9 82.7 84.1 85.7
46 4 49 3 52.6 50.2 51.3 52.4 52.9
55.6 59.2 64.2 61.3 62.4 63.4 64.9

340.0
132.8
105.2
87.2
53.9
66.1

12.3

13.1

14.1

13.4

13.7

14.0

14.2

14.5

49.8
36.6
13.2

50 6
37.6
13.0

52.0
39.3
12.7

51 5
38.3
13.2

51.2
38.6
12.6

51.7
39. 1
12.6

52.1
39.6
12.6

52.8
39.9
12.9

Rental income of persons -

12 2

12.3

12.4

12.4

12.4

12.4

12.4

12.5

Dividends
-. .. _
Personal interest income

16.5
30 0

18.0
32 9

19.8
36 0

19.1
34 2

19.4
35.0

19.8
35.7

20.0
36.3

20.2
36.9

Transfer payments
Old-age and survivors insurance
benefits
State unemployment insurance
benefits
Ve trans' benefits _
Other

34.7

36.7

38 2

37.2

38.3

38.0

38.0

38.4

14.3

15.2

16.0

15.4

15.6

16.1

16.1

16.1

2.9
4.8
12.7

2.8
5.0
13.7

2.6
5.2
14.4

3.0
5.1
13.6

2.8
5.2
14.8

2.5
5.3
14.2

2.4
5.2
14.2

2.6
5.3
14.3

Less: Personal contributions for
social insurance

10 3

11 8

12.7

12.1

12.3

12.5

12.8

13.0

Less: Personal tax and nontax payments
Federal
State and local

57 9
49.1
8.8

61.6
51.9
9.6

59.5
49.0
10.6

63.3
53.4
9.9

61.4
51.2
10.2

57.7
47.3
10.5

58.8
48.2
10.6

60.2
49.3
10.9

Equals: Disposable personal income, _ 384.6 402.5 431.8 411.2 419.5 430.2 435.6

442.1

Less: Personal consumption expendi356.8 375.0 399.3 381.3 390.0 396.1 404.6
tures

406.5

Other labor income

- -

Proprietors' income
Business and professional
Farm
- -

- -

31.0

35.5

Addendum: Disposable personal in343.4 354.9 375.8 360.7 366.7 374.7 378.8
come in constant (1954) dollars

383.1

Equals : Personal saving
210.0 221.0 235. 1 226.1 229.8 233.3 236.8

Excludes profits originating in the rest of the world.
p Preliminary.




.8

53.1
53.3
25.4
27.9
-.2

Wage and salary disbursements
Commodity-producing industries..
Manufacturing only
Distributive industries. __
Service industries
Government
.-

27.8

27.5

32.5

29.9

29.5

34.0

CURRENT BUSINESS STATISTICS

A HE STATISTICS here update series published in the 1963 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SUEVEY
OF CURKENT 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
(*) and 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.
Data from private sources are provided

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 | 1963

1961
IV

Annual total

1962
I

II

1963

| III | IV

I

19641

| III

II

I

IV

II

III

IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
426.9

455.6

478.5

442.4

447.2

454. 3

457.8

463.2

467.9

474.6

481.9

490.0

498. 4

507. 1

514.5

302. 2

323.1

340.3

310.7

316.6

322.4

325.3

328.0

332. 7

338.1

342.7

347.7

352.5

358.6

364.8

r> 370. 6

Wages and salaries total
.do _ _ _
Private
--- do
Military
__.--- -do
Government civilian
do
Supplements to wages and salaries. _ _ _ — do
Proprietors' income, totalcf
do
Business and professionald* _ _
do
Farm
:
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
•.
bil. $_.

278.8
227. 0
10.2
41.6
23.4
48.2
35.3
12.9
12.2

297. 1
241.6
10.8
44.7
25.9
49.8
36.6
13.2
12.2

312.1
252.9
10.9
48.3
28.2
50.6
37.6
13.0
12.3

286.8
233. 2
10.8
42.8
23.9
49.6
36.3
13.3
12.2

291.2
236.5
11.1
43.6
25.4
50.0
36.3
13.7
12.2

296.6
241.5
11.0
44.1
25.8
49.9
36.6
13.3
12.2

299.2
243.5
10.7
45.0
26.1
49. 7
36.7
13.0
12.2

301.6
244.8
10.5
46.3
26.4
49.7
36.9
12.8
12.2

305. 3
247.5
10.6
47.2
27.4
50.3
37.1
13.2
12.3

310. 1
251.6
10.7
47.8
27.9
50.1
37.3
12.8
12.3

314.3
255.0
10.7
48.7
28.4
50.7
37.8
12.9
12.4

318. 8
257. 6
11. 7
49.6
28.8
51.5
38.3
13.2
12.4

323.2
260.8
11.7
50. 7
29.4
51.2
38.6
12.6
12.4

328. 7
265.3
11.7
51.7
29.9
51.7
39.1
12.6
12 4

334 4
269. 4
11.8
53 2
30.4
52 I
39 6
12 6
12 4

v 339 9
v 274. 0
pll.9
p 54. 0
J>30.7
v 52. 8
»39.9
P12.9
*>12.5

44.1

48.4

50.8

49.0

47.1

48.0

48.3

50. 3

49.1

50.2

51.4

53.1

56.4

57.9

58 1

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

44.2
22.3
21.9
15.2
6.7
-.1

48.2
23.2
25.0
16.5
8.5
.3

51.3
24.6
26.7
18.0
8.7
—.4

49.3
24.8
24.5
15.7
8.8
-.3

47.2
22.7
24. 5
16.1
8.4
-j

47.9
23. 0
24.9
16.4
8.5
.0

48.1
23.1
25.0
16.5
8.5
.1

49.4
23.8
25.7
17.1
8.6
.9

48 9
23.4
25.5
17.2
8. 3
.2

51.1
24.5
26.6
17.7
8.9
-.9

51.3
24.5
26.7
17.9
8.9
.2

54 3
26 0
28.3
19.1
9.2
—1.2

56 6
25 4
31.2
19.4
11.8
—.2

57 9
26 0
31.9
19.8
12.1
—.1

58 0
26 0
32 0
20 0
12 0
1

P20.2

do.

20.1

22.1

24.4

20.9

21.3

21.8

22.3

22.9

23 5

24.0

24.7

25 4

25 9

26 5

27 1

*>27. 6

do

518. 7

556.2

583.9

536.9

545.5

553.4

559.0

566 6

571 8

577 4

587 2

599 0

608 8

618 6

628 4

r

Personal consumption expenditures, total __do

337.3

356.8

375. 0

345.2

350.5

354.0

358.5

364.0

369.2

372.0

377.4

381.3

390.0

396.1

404.6

'406.5

43 7
17.1
19.3
155 4
28 7
81.3
11 9
138 3
20 4
44 2
10 7

48.4
20.6
20.2
162.0
29 9
84.6
12.3
146 4
21 6
46.5
11 3

52 1
22.7
21.4
167 5
30 7
87.1
12 8
155 3
22 7
48 9
11 7

46 0
18.6
19.9
157 8
29 4
82.2
12 0
141 4
20 9
45 0
10 8

47 4
19.7
20.1
159 5
29 6
83.2
12 2
143 6
21 3
45 6
11 1

47 7
20.3
19.9
161 0
29 7
84.' 1
12 2
145 3
21 3
46 2
11 2

48 4
20.5
20.3
162 9
30 0
85.2
12 3
147 2
21 7
46 8
11 4

50 2
21.8
20.6
164 4
30 2
85.9
12 5
149 5
22 0
47 5
11 5

51 1
22.4
20.8
166 0
30 4
86.4
12 7
152 1
22 4
48 0
11 6

51 5
22.6
21.0
166 6
30 1
86.9
12 8
153 9
22 4
48 6
11 7

52 2
22.6
21.6
168 6
31 3
87.3
12 9
156 6
22 9
49 2
11 7

53 6
23.2
22.3
168 9
30 9
87.8
13 0
158 8
23 o
49 8
11 8

55 9
24.3
23.1
172 9
32 1
89.7
13 3
161 1
23 5
50 5
12 0

57 0
24.1
24.2
175 3
33 2
90.6
13 5
163 8
24 o
51 1
12 2

58 7
25.6
242
179 5

••56 3
••22.8

National income total f

__bil. $__

Compensation of employees, total

Net Interest

do

--

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. _ _do____

» — .7

634 6

r 24. 5

qq o

f 181 3
r 34 3

92.8
13 5

r 93. 6
r 13 7

Ififi 4

r 169 0
r 25 1

24 8
51 8
12 2

52 4 '
r 12 3

68.8

79.1

82.0

74.9

77.4

79.9

77.9

80.2

82. 8

87.1

85.9

87.2

87.3

'90.4

44 2
23.6
29.0
59
53

46 6
25.2
31.0
44
39

41 9
22.1
27.4
56
52

42 5
22.5
28.1
69
64

78.9
44 i
23.5
28.8
61
55

80.2

41 0
•21.1
25.9
19
15

45 5
24.4
29.6
51
44

44 9
24.0
29.7
54
48

44 7
24.3
29.6
36
30

45 9
25.1
30.7
36
32

47 2
25.4
31.4
4 2
37

48 ^

4.O 9

4ft Q

26.2
32.4
6 4
60

26.9
34.2
25
22

48 9
26.2
34. 6
37
34

25.7
35.6
252

r 48 7
r25.1

4.6
27 6
23 0

4.0
29 2
25 2

4.4
30 7
26 3

4.3
28 4
24 1

3.4
28 0
24 6

4.3
29 6
25 3

4.4
29 7
25 3

3.9
29 4
25 5

3.4
28 8

4.3
30 5

4.2
31 0

5.8

7.7

5.7

7.0
qc 7

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

108.0
57.4
49 0
50 6

116.3
62.9
53 6
53 5

122.6
64.7
55 2
57 9

112.6
59.8
50 9
52 8

114. 3
61.4
52 5
52 8

116.,!
63.6
55 3
52 5

115.9
62.4
53 0
53 5

By major type of product:f
Final sales, total.. _ _ - _ — _ _
Goods, total
___.
Durable goods.. „__.
Nondurable goods__
Services.,-...
Construction.
__
_

516.8
257 9
94 5
163.4
200 8
58 1

550.3
273 6
102 3
171. 3
214 7
62 0

579.5
285 8
108 2
177.6
228 4
65 2

531.4
264 8
98 4
166.5
206 8
59 7

538.7
268 9
100 2
168.7
210 0
59 8

547. 3
273 5
103 5
170.0
212 2
61 6

554.0
273 9
101 4
172. 6
216 8
63 2

New construction
do
Eesidential nonfarm
__do
Producers' durable equipment
-____._do
Change in business inventories _ _ . _ _ _ _ _ . do
Nonfarm
__
do
Net exports of goods and services
Exports
.____..____
Imports—
_-.'

__do____
do
do

______do
"do
___ _ do
_____do
do
„ _ do

Inventory change, total... _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ d o
1.9
5.9
4.4
5.6
6.9
1
Durable goods...,
.......
do
30
36
2 2
3n
Nondurable goods.—
____
.do
2.*0
2.' 9
2.' 2
2.*0
2.9
'Revised. *> Preliminary. fRevised series. Estimates of national income and product
and personal income have been revised back to 1961 (see p. 8 fl. of the July 1964 SURVEY);
revisions prior to May 1963 for personal income appear on p. 15 of the July 1964 SUEVEY.
761-192 O-65-3




09 c
9fi Q

A

9fi H

9fi 8

118.7
63.8
53 5
54 8

121.4
65.1
54 8
56 3

120. 9
64.3
55 2
56 7

122.8
64.4
55 5
58 4

124. 8
64.9

561.2
278 2
104 1
174.1

568.2
280 9
105 0
175. 8

573.7

583.0

592.6

990 0

63 0

OK

994 7
fi9 7

98fi ^
111 0

175.5
990

K

«q 7

90 c 7
10fi fi

179.1

90-1 9
fifi 9

ec q

CQ Q

9Qfl ^
110 4

179.9

9Q4 f\
fi7 8

qxi c

9fi a

2.0 ;

7

129.6
67.1
K7 o

129.5
65.5
cc 9

K

fi4 1

606. 4

614.9

625.7

9Q8 9
q

m

Of)

Qfl4 Q
1 1Q ft

19fi 7

183.9

185.4

189. 8

co o

R8 Q

P.Q 9

2.5

3.7

2.8

9qn «

'36.0
r 5 7
r

61

'7.7

r 37 1

r 29 4

125.2
64.3
54 0
60 9

5.1
5.4
3.6
3.6
4.2
6.4
q -I
31
9 7
1 53
1 C
3.0
2.0
3.6
.9
2.7
3.4
cflncludes inventory valuation adjustment. ©Includes
9 Government sales are not deducted. 1 Annual totals for
issue of the SURVEY.
6.1

qq 7
97 Q

2

r 130. 0

r65.3
r 55 3
64 6
628.8
309 6
117 9
191. 7
250 3
69 0
5.7

a7

2.1
1.8
1.2
1.5
data not shown separately
1964 appear on p. 16 ff of this

Sr-1

SUEVEY 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 | 1963

Annual total

1962
I

II

February 1965
1964

1963

III

IV

I

III

II

IV

I

II

1965

III

IV

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, totalf—
— — — bil. $__

447.9

476.4

492.6

469.1

475.1

478.3

483.0

485.4

487.9

494.8

502.0

508.0

513. 5

519. 6 «'522.7

Personal consumption expenditures, total.. do.. _^

303.8

318.5

330. 6

314.2

316.6

319.8

323.6

327.0

328.6

332.4

334.4

340.9

345.0

351.8 « 352. 4

do
do
do

41.4
143.5
118. 9

45.7
148.3
124.5

49.3
151.6
129.7

44.8
146.6
122.7

44.9
147.8
123.8

45.6
149. 1
125.0

47.6
149.5
126. 5

48.5
150.7
127. 8

48.6
151.1
128.9

49.4
152.5
130.6

50.8
152.1
131.6

53.1
155. 2
132. 6

54.0
157.4
133. 7

«53.9
55.6
160.9 « 161.9
135.3 « 136. 6

do

57.4

65. 9

67. 7

64.8

65.8

66. 3

66.5

64.7

66.2

68.1

71.7

70.1

70.8

70.4

«72.7

do
do '_
do—

34.3
21.4
1.7

36.7
24.0
5.2

37.9
25.6
4.1

35.5
23.2
6.1

36.6
23.8
5.4

37. 5
24.4
4.4

37.0
24.7
4.9

36.8
24.6
3.4

37.5
25.4
3.3

38.2
25.9
4.0

39.0
26.8
5.9

39.6
28.1
2.4

39.2
28.3
3.3

38.6
29.2
2.5

»38.2
« 29. 5
«5.0

2.1

Durable goods
Nondurable goods
Services
Gross private domestic Investment, total
New construction
Producers' durable equipment
Change In business inventories

2.5

2.2

2.2

1.3

2.8

2.8

Govt. purchases of goods and services, totaL_do____
Federal
do
State and local
. d o

84.3
44.8
39.4

89.8
49. 4
40.3

92.1
49.7
42.4

88.8
48.4
40.4

89.9
50.2
39.8

89.4
49.2
40.2

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

417. 6
52.9
364. 7

442. 4
57.9
384.6

464. 1
61.6
402.5

434.7
56. 1
378.5

441.0
57.6
383.4

444.5
58.5
386.0

27.3

27.8

27.5

28.0

29.4

Net exports of goods and services....—.— _do

Personal saving §
.
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadiusted quarterly or annual totals:
All Industries
bil. $

1.3

2.1

2.0

3.5

5.4

3.4

4.5

«5.2

90. 7
92.4
49.9 , 50.7
40.9
41.8

91.0
49.4
41.7

92.3
49.6
42.7

92.4
48.9
43.4

91.6
47. 8
43.8

94.3
49.8
44.5

92:8
47.8
45.0

«92.4
"47.3
«45. 1

449. 7
59. 3
390.4

455.2
60.1
395.1

460.2
61.1
399.1

466.3
61.9
404.4

474.5
63. 3
411.2

480.9
61. 4
419.5

487.9
57.7
430.2

494.5 « 502. 2
58.8 «60.2
435.6 •'442.1

27.5

26.4

25.9

27.1

27.0

29.9

29.5

34.0

31.0 <"35.5

U2.60 2 10. 58

34.37

37.31

39.22

8.02

9.50

9.62

10.18

8. 25

9.74

10.14

11.09

9.40

11. 11

11. 54

Manufacturing
Durable goods Industries
Nondurable goods Industries

do
do
___ do

13.68
6.27
7.40

14. 68
7.03
7.65

15. 69
7.85
7.84

3.14
1.44
1.69

3.69
1.77
1.92

3.72
1.79
1.93

4.13
2.03
2.10

3.27
1. 62
1.65

3.92
1.96
1.95

3.95
1.96
1.99

4.56
2.31
2. 25

3.79
1.93
1.87

4.53
2.30
2.23

4.67
2.37
2.30

5.51
2. 75
2.76

4.43
2.19
2.24

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

.. do
__do
_
do
_ _ do
do
.do

.98
.67
1.85
5.52
3.22
8,46

1.08
.85
2.07
5.48
3.63
9.52

1.04
1.10
1.92
5.65
3.79
10. 03

.26
.16
.47
1.06
.88
2.06

.27
.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

.26
.28
.54
1.40
.95
2.41

.27
.29
.45
1.60
.93
2.64

.28
.33
.54
1.61
1.06
2.72

.26
.32
.51
1.18
.97
2.37

.29
.36
.63
1.58
1.10
2.61

.30
.37
.59
1.71
1. 06
2.84

.32
.41
.57
1.68

.29
.38
.53
1.27

3 4. 11

33.68

do

35.70

36.95

38.35

37.95

36. 95

38.05

40.00

41.20

42.55

43.50

45. 65

146.70

247.90

Manufacturing
Durable goods industries

do
do

14. 20
6.55
7.60

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. 65

15.95
8.00
8.00

16.45
8.30
8.15

17.40
8.85
8.55

17. 80
9.00
8.80

18. 85
9.60
9.20

19.75
9.80
9.95

20.40
10.15
10.25

Mining
Railroads

do
do

Public utilities '

do

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

1.15
1.40
2.30
5.95
4.05
10.25

1.15
1.25
2.25
6.30
4.30
10.45

1.20
1.50
2.40
6.30
4.40
11. 00

1.25
1.75
2.30
6.00

1.25
1.70
2.35
6.40

M,755 * 4, 797

4,780

4, 790

4,800

4,815

4,825

4,835

4, 850

4,860

4,875

4,895

4,910

Seas. adj. qtrly. totals at annual rates:
All industries

Commercial and other
•
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted)
thous 44,713

;

U.S. BALANCE OF INTERNATIONAL
PAYMENTScft
Quarterly Data are Seasonally Adjusted

315.55 315.80
4.930

31,791

33,486

35,990

8,447

8,151

8,312

8,576

8,724

9,713

8,482

9,071

9, 253

9, 797

9, 898

.do
do
do

14, 497
2,954
5, 401

16, 134
3,044
5, 843

16, 996
2,897
6, 442

3,948
758
1, 412

4,058
749
1,462

4,088
745
1,465

4, 040
792
1,504

4,037
747
1, 543

4,212
731
1,588

4,368
711
1,654

4,379
708
1,657

4, 366
717
1,665

4, 576
728
1,704

4, 747 p 4.895
684
1,770

—.do

705
4,054

738
4,293

826
4,522

187
1,074

189
1, 065

177
1, 066

185
1, 088

209
1,060

209
1,336

206
1, 009

202
1,117

197
928

208
1, 130

214
1,075

4, 180
1,599
1, 025
1,556

3,434
1 654
1, 227
553

4,307
1,888
1,685
734

1,068
260
390
418

628
446
303
-121

771
417
208
146

967
531
326

1,128
618
546

1,637
477
598
562

534
235
303
-4

1,008
558
238
212

1,380
521
227
632

1,451
• 571
263
617

1,408
519
586
303

do

30, 419

32,394

33, 685

7,706

7,925

8,408

8,355

7,780

8,429

8,596

8,880

9,329

9,121

9, 512

do
do

19, 913
8,525

20,576
9,508

21,989
10, 031

5,032
2,198

5,237
2,397

5,288
2, 339

5,019
2,574

4,990
2,545

5,472
2,505

5, 610
2, 427

5,917
2,554

6,112
2,888

6,036
2,803

6,362 p 6.619
2,802

1,274
707

1, 280
1,030

969
696

150
326

237
54

606
175

287
475

166
79

190
262

424
135

189
220

216
113

188
94

201
147

-1,372 -1,092 -2,305
-998 -1,111 -339

-741
-7

226
-214

96
-430

-221
-460

-944
-118

-1,284
-11

114
-267

-191
57

76
-170

-676
-54

-386
-176

Total, net receipts or payments (— )
do
-2, 370 -2,203 -2, 644
-440
-748
Net receipts or payments (— ), incl. transactions in
nonmarketable, medium-term convertible Govt.
1 <UO
securities
mil $
T
Revised.
* Preliminary,
« See note 1 on p. S-l.
i Estimates for Oct.-Dec. 1964 based on anticipated capital expenditures of business.
2
Estimates for Jan.-Mar. 1965 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1964 are as follows (in bil. $): All industries, 44.66;
manufacturing, total, 18.51; durable goods industries, 9.35; nondurable goods industries,
9.16; mining, 1.18; railroads, 1.46; transportation, 2.31; public utilities, 6.14; commercial arid
other (incl. communications), 15.06.
s includes communications.

334

—681

-1,062 -1,295

-153

-134

-94

-730

-562

Imports:
Merchandise.—...
Military expenditures
Other services

— —,
___._

Govt. grants and capital outflows __
U S private capital (net)
Direct investments
Long-term portfolio
Short-term...—
•U S receipts recorded
Exports:
Merchandise
Services and military sales. _ _ —

_

do
do
-do—
do

Repayments on U.S. Govt. loans
do—
Foreign capital other than liquid funds (net).do— __
Excess of recorded receipts or payments (— ) _— do.
Unrecorded transactions (net)
do




no

p-1,317

-359
-94
-608
-712 -1,143
22
-109
4 Unadjusted . Data representt firms iri operati on as of Jan. 1; estimate for Jan. 1,1963
is based on iric omplete data.
fSee cor respond] ng note Dn p. S-l (revisioiisforqtrs. of 1961
appear on p. 8 ff . of theJuly 196 1 SURVEY0.
§Personal sa-<7ing is 63fcess of d isposable income over pe rsonal consumpti in expenditures
shown as a con:iponent c>f gross n ational p roduct 01a p. S-l.
cfMore com plete de tails are given in the qmirterly r 3 views iii the M ar., June, Sept.
and Dec. issue 3 of the S ITRVEY.
t Revised dat a for 196 3-61 app<jar on p. 10 of the June 196 4 SURVE y.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102