Full text of The National Income and Product Account : Revised First Quarter 1963

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BUSINESS STATISTICS

urren

A 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 | 1962

Annual total

1961

1960
I

II

III

IV

I

II

1962
III

IV

i | n

1963
III

IV

I

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
\Tational income, totalf
Compensation of employees, total

bil $

415.5

427.8

458.0

413.9

417.2

416.6

414.4

411.8

424.3

431.3

444.0

448.9

456.7

459.8

466.6

471. 3

do

293.7

302.2

321.6

290.6

294.6

295.8

293.9

294.1

300.2

304.5

309.9

315.2

321.7

323.8

325.8

330.8

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

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

303.3
244.5
10.8
48.0
27.5
50.7
37.7
13.0
13.0

45.6

45.5

51.5

48.6

46.2

44.4

43.3

40.1

45.0

46.0

51.1

50.4

50.7

51.0

54.0

53.3

45.4
22.4
23.0
14.4
8.6
2

45.6
22.3
23.3
15.0
8.3
.0

51.3
25.0
26.3
15.9
10.3

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
-.1

53.2
26.0
27.3
16.4
10.9
.8

52.9
25.8
27.1
16.4
10.6
.4

Wages and salaries, total
__ do
Private
do
Military
- do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income, totalcf 1
do
Business and prof essionald"
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
-

do

18.1

20.0

22.2

17.6

17.7

18.2

18.8

19.1

19.8

20.3

21.0

21.5

22.0

22.5

23.0

23.5

do

503. 4

518.7

553.9

501.7

504. 8

503. 7

503.3

500.8

513.1

522. 3

538.6

545.0

552.0

555.3

563.5

571.8

Personal consumption expenditures, total.. do

328.5

338.1

356.7

323.9

329. 9

329. 8

330.5

330.5

335.5

340.1

346.1

350.2

354.9

358.2

363.5

367.8

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

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

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

50.0
21.5
20.8
165.5
30.3
86.5
12.9
152.3
22.3
47.4
12.0

Gross national product, totalf

Gross private domestic in vestment, total
New construction
Residential nonfarm
Producers' durable equipment
Change in business inventories
Nonfarm
..
Net exports of goods and services
Exports
Imports

_

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

_

do

72.4

69.3

76.6

79.1

73.5

70.3

66.5

60.1

67.6

72.4

76.6

75.9

77.4

76.3

76.2

76.8

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

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
\\
-1.5

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

43.6
22.6
30.1
3.0
2.7

do.
do
do

2.9
26.4
23.5

4.0
27.3
23.3

3.3
28.4
25. 2

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

3.2
27.9
24.7

99.7
53.2
45.7
46.5

107.4
57.0
49.0
50.4

117.3
62.4
53.4
55-0

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

124.0
65.9
56.6
58.1

499.4
254. 1
95.0
159.2
188.6
56.7

516. 6
257. 2
94.0
163. 3
9
00 7
58.6

550.6
273. 7
102. 9
170.8
214.8
62. 1

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

568.7
283.1
108.6
174.5
223.2
62.4

.do
do
do
do
do .
do
do
do
do
do

Inventory change, total
.do
2.1
4.1
2.1
4.0
2.1
4.4
-1.1
3.2
10.8
4.0
1.0
6.0
-3.6
6.7
3.0
1.2
Durable goods
_
do
2.3
.0
3.4
1.0
-5.5
-1.3
-3.3
1.6
3.5
2.8
1.9
1.9
3.5
S.6
-.2
-.8
2 1
1.8
Nondurable goods
do
3.4
1.1
2.2
2.2
2.2
3.1
.6
1.9
1.6
-.9
2.5
1.6
3.3
2.0
T
eludes c ata not s hown sef >arately.
Revised.
t Re vised series. Estimates of national income an I product and pei sonal
9 Go •ernmen t sales are not ded acted.
*For qu arterly
data ba ck to 194 7, see p. 35 of the July 196^I SITRVEIr.
income have been revised back to 1959; revisions prior to May 1961 forpersonal income a ppear
on p. 13 of the July 1962 SUBVEY.
cf Includes inventory valuatio n adjustinent.
©In687112—- G3"




S-l

SURVEY OF CURRENT BUSINESS

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

1960

1961

1962

Annual total

1961

1960
III

June 1963

IV

I

II

1962
III

IV

I

1963
III

II

IV

I

II

III

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

440.2

447.9

471. 9

439.7

437.7

433.9

443.9

450. 4

463.4

467.4

470.8

471.6

477.7

482.7

Personal consumption expenditures, totaL.do

298.3

304.3

318.2

299.1

298.8

298.2

302.5

306.0

310.6

313.9

316.9

319.0

322.8

325.3

42.2
141.4
114.7

41.6
143.3
119.4

45.2
148.5
124.5

41.8
141.9
115.4

41.8
140.7
116.3

39.0
141.5
117.7

41.3
142.3
118.8

41.7
144.4
120.0

44.4
144.9
121.4

44.1
147.0
122.8

44.6
148.1
124.1

44.6
149.5
125.0

47.6
149.3
126.0

47.9
150.4
127.0

Durable goods
Nondurable goods
Services

do
do
- do
do

60.7

57.8

63.3

58.6

55.8

50.0

56.5

60.4

64.1

63.3

64.1

62.4

62.8

63.4

New construction
Producers' durable equipment
Change in business inventories

do
do
do

34.3
22.7
3.7

34.8
21.1
2.0

36.5
23.8
2.9

34.0
22.7
1.9

34.3
22.2
-.7

33.0
20.1
-3.0

34.3
20.2
2.0

35.6
21.3
3.5

36.1
22.7
5.4

34.6
22.8
5.9

36.7
23.8
3.7

37.7
24.0
.8

36.8
24.8
1.3

35.5
25.0
3.0

Net exports of goods and services

do

1.5

1.8

.5

1.5

3.3

3.5

1.7

.7

1.4

1.3

.7

-.3

.5

.5

79.8
42.3
37.4

84.0
44.5
39.4

89.9
48.7
41.2

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

93.4
50.7
42.7

400.8
51.4
349.4

416.4
52.8
363. 6

440.5
57.6
382.9

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

452.1
59.5
392.6

20.9

25.6

26. 2

22.0

22.2

23.8.

25.5

26.3

26.5

25.4

26.9

26.0

25.8

24.8

Gross private domestic Investment, total

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

bil. $
do
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

__ __
-..

2

8.92

8.59

9. 33

8.98

9.53

7.57

8.61

8.65

9.64

8.02

9.50

9.62

10.18

do
do
do

3.62
1.80
1.82

3.42
1. 57
1. 85

3.67
1.76
1.91

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

'3.27
'1.62
'1.65

'3.93
'1.96
'1.97

3.91
1.94
1.96

do
do
do
do
do

.25
.26
.48
1.42
2.89

.24
.17
.46
1.38
2.92

.27
.21
.52
1.37
3.29

.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
. 60
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

'.24
'.21
'.39
'1.04
'3.11

'.26
.30
'.52
' 1.43
'3.40

.26
.26
.49
1. 55
3.62
2 39. 95

-bil. $..

' 8. 25 ' i 9. 84 2 10. 09

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

do

35.90

35.50

33.85

33.50

34. 70

35.40

35. 70

36.95

38.35

37.95

' 36. 95 '138.40

Manufacturing
Durable goods industries
Nondurable goods industries

do
do
do

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

' 14. 85 ' 15. 35 15.80
' 7. 35 ' 7. 65 7.95
7.85
' 7. 50 '7.70

Mining
Railroads
Transportation other than rail
Public utilities

do
do
do
do

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
'.90
' 1.70
' 5. 20
'13.20

4,720

4,730

4,740

4,750

4. 760

4. 770

4.780

4,790

4,800

BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted)
thous
U.S. BALANCE OF INTERNATIONAL
PAYMENTSt
Qiiarterly Data are Seasonally Adjusted
U.S payments, recorded
mil $
Imports:
Merchandise
Military expenditures
Other services

do
do
do

Remittances and pensions
Govt. grants and capital outflows

do
do

U.S. private capital
Direct investments
Long-term portfolio
Short-term

_

U.S. receipts, recorded

3 4, 658

'31,174 '31,778 ' 33, 254 ' 7, 937 ' 7, 993 ' 7, 673 ' 7, 535 '7.917

...do
do
do

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

do
do

'672
3,405

'705
' 4, 056

'736
' 4, 281

'169
826

'177
'957

' 187
'985

' 4, 150 ' 3, 273 ' 1, 125 ' 1, 377 '1,024
' 1, 598 ' 1, 557 '362
'688
'458
'215
'94
'1,011 ' 1, 209 '221
'474
'542
' 1, 541 '507
'472

' 27, 976 '30,313 ' 32, 093 ' 7, 112

' 7, 001

' 171 '173
'174
'856 ' 1, 029 ' 1, 186
' 1,002
'344
'219
'439

'844
'399
'234
'211

' 1, 280
'397
'464
'419

19, 459 ' 19, 913' 20, 479 4,940
4,986 ' 5, 050 ' 4, 755 ' 4, 987 ' 5, 121
' 7, 515 ' 8, 398 '9,311 ' 1, 905 ' 1, 942 ' 2, 038 ' 2, 088 ' 2, 120 ' 2, 152
636
'366

1,274
'728

' 1, 283
' 1, 020

'196
r 71

'128
'212

Excess of recorded receipts or payments (— )..-do

-3, 198 '-1,465 '-1,161 ' -825 '-992

Unrecorded transactions

'-683

do

' 4, 815 ' 4, 825

' 8, 214 ' 8, 478 8,430

'191
' 182
'176
' 187
217
'1,075 '1,078 ' 1,045 ' 1, 083 1,082
'861
'199
'357
'305

'834
'506
'329
' -1

'711
'359
'188
' 164

' 7, 428 ' 7, 956 ' 7, 247 ' 7, 682 ' 7, 688 ' 7, 901 ' 8, 327

'133
'-60

_

' 8, 653 ' 8, 246 '8,316

1.05
1. 10
2.00
5.80
14. 25

14, 723 ' 14, 497 '16,145
3,422 ' 3, 386 ' 3, 404 ' 3, 826 ' 3, 881 ' 3, 942 ' 4, 030 ' 4, 127 ' 4, 046
3,664
3.985
r 717
3,048 ' 2, 934 ' 3, 028 '789
'725
'680
' 764
' 773
'754
'748
'732
'794
741
' 5, 434 ' 5, 436 ' 5, 791 ' 1, 364 ' 1, 335 '1,318 '1,338 ' 1, 365 ' 1,415 ' 1, 423 ' 1, 444 ' 1, 423 ' 1, 501 1,447

' 3, 892
do
do_. _ 1,694
850
_do
' 1, 348
do

Exports:
Merchandise
,
Services and military sales

3 4, 713 ' 3 4,755

'1.00
' 1. 05
' 1. 95
' 5. 55
r
13. 45

851
'262

'99
'41

' -245

'421

' -670

' -905 '-1,025 ' -193 ' -265 ' -227

' -390

'196
'213

' 5, 022
' 2, 184

'155
'327

' -27

958
556
457
55

' 8, 177

7,668

' 5, 262 ' 5, 270 ' 4, 925
' 2, 348 ' 2, 280 ' 2, 499

'237
'54

' -971 ' -558 ' -415

' 15 ' -303

'867
'493
'335
'39

' 601
' 176

'113

4,998
2,368

'290
'463

168
134

' -301

-762

' -37 ' -469 ' -492

-44
1
Total, net receipts (+) or payments (— )
do
-3,881 -2,370 '-2, 186 -1,018 '-1,257 ' -472
' 31 - '—655 '-1, 274 ' -585 ' -452 ' -356 ' -793 ' -806
'Revised.
*>
Preliminary.
(based
on
incomplete
data)
is
4,797,000.
1
Estimates for Apr .-June 1963 based on anticipated capital expenditures of business.
t See corresponding note on p. S-l (revisions prior to 3d qtr. 1959 appear on p. 8 ff. of
2
Estimates for July-Sept. 1963 based on anticipated capital expenditures of business.
the July 1962 SURVEY).
Anticipated expenditures for the year 1963 are as follows (in bil. $): All industries, 39.24;
§ Personal saving is excess of disposable income over personal consumption expenditures
manufacturing, total, 15.56; durable goods industries, 7.72; nondurable goods industries,
shown as a component of gross national product on p. S-l.
7.84; mining, 1.02; railroads, 1.08; transportation, 1.90; public utilities, 5.61; commercial and
J More complete details are given in the quarterly reviews in the Mar., June, Sept.,
other, 14.07.
and Dec. issues of the SURVEY. Revisions prior to 3d qtr. 1960 will be shown later.
Digitized for 3FRASER
Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1963