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SURVEY OF CUREENT BUSINESS November 1967 NATIONAL INCOME AND PRODUCT TABLES 1965 1966 II III 1966 1967 1966 I IV II III 1965 1966 III II 1967 IV II III Seasonally adjusted at annual rates 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) 683 9 743 3 736 7 748 8 762 1 766 3 775.1 791 2 616 7 652 6 649 3 654.8 661.1 660.7 664.7 672.0 433 1 465 9 461 6 470 1 473 8 480 2 489.7 495.3 398.4 418.0 415.2 420.4 420.4 424.2 430.6 431.5 66 0 191.2 175 9 70 3 207.5 188 1 68 2 207.1 186 3 70 9 209.5 189 8 70 6 210.3 192 9 69 4 214.2 196 6 72 5 217.2 200 0 72 7 218.5 204 1 66 4 178.9 153 2 71 3 187.7 159 1 69 3 187.7 158 2 71 9 188.8 159.8 71 1 188.4 160.9 69 7 191.8 162.6 72.9 193.6 164.1 72.7 192.8 166.0 107 4 118 0 118 5 116 4 122 2 110 4 105.1 112 2 98.0 105.6 106.5 103.6 108.4 96.9 91.3 96.4 98 0 104 6 104 5 104 9 103 7 103 3 104 6 108 4 89 1 93 0 93.1 93.0 91.2 90.2 90.9 92.9 Nonresidential _. _ Structures Producers' durable equipment.. 71 1 25 1 46 0 80 2 27 9 52 3 78 7 27 5 51 2 81 2 28 2 53 1 82 8 27 7 55 1 81 9 27 7 54 2 81 5 26 3 55 2 82 8 26 6 56 2 66 0 21 9 44 1 72 8 23 6 49 2 71 7 23.4 48.3 73.6 23.7 49.9 74.2 23.0 51.2 73.0 22.9 50.1 72.6 21.7 51.0 73.2 21.5 51.7 Residential structures Nonfarm Farm 27 0 26 4 5 24 4 23 8 5 25 8 25 3 5 23 7 23 2 5 20 9 20 4 5 21 4 20 9 6 23 1 22 5 g 25 6 25 0 Q 23 2 22.7 5 20 2 19 7 5 21.4 21.0 5 19.4 19.0 .5 17.0 16.5 .5 17.3 16.8 .5 18.3 17.8 .5 19.7 19.2 .4 Change in business inventories Nonfarm Farm _ 9 4 8 4 10 13 4 13 7 '3 14 0 14 4 — 3 11 4 12 0 — 5 18 5 19 0 — 5 71 73 — 2 5 6 — i 38 34 4 88 79 9 12 6 12 9 — 3 13.4 13 7 —.3 10.6 11.1 —.5 17.2 17.7 —.5 6.7 6.8 -.2 .4 .5 -.1 3.5 3.2 .4 Net exports of goods and services 6 9 51 54 4 6 4 3 53 5.3 54 6.0 4.4 4.8 4.1 3.2 4.1 4.1 4.2 42.8 38.6 Gross national product . Personal consumption expenditures Durable goods Nondurable goods Services Gross private domestic investment Fixed investment _ _ Exports Imports __ Government purchases of goods and services Federal National defense Other . ._ State and local 39 1 32 2 43 0 37 9 42 5 37 1 43 7 39 0 44 0 39 7 45 3 39 9 45 1 39 8 45 6 40 2 37 5 31 5 40 8 36 4 40 4 35 6 41 4 37.3 41.2 38.0 42 4 38.3 42.3 38.2 136 4 154 3 151 2 157 7 161 7 170 4 175.0 178 2 114.3 124.5 122.7 126.6 129.1 135.5 138.7 139.9 66 8 50 1 16 7 77 0 60 5 16 5 74 9 58 4 16 6 79 5 63 0 16 6 81 5 65 6 15 9 87 1 70 2 16 8 89 5 72 5 17 0 90 9 73 3 17 6 57 8 64.7 63.4 66.4 67.8 72.3 74.4 75.1 69 6 77 2 76 2 78 1 80 2 83 3 85 4 87.4 56.4 59.9 59.4 60.1 61.3 63.2 64.3 64.9 Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5) Gross national product _ Final sales Change in business inventories Goods output __ . 683 9 743.3 736 7 748 8 762 1 766 3 775.1 791.2 616.7 652.6 649.3 654. 8 661.1 660.7 •664.7 672. 643.9 17.2 654.0 6.7 664.3 .4 668. 3. 674 5 9.4 729.9 13.4 722 6 14.0 737 4 11.4 743 6 18.5 759 2 7.1 774 6 .5 787.4 3.8 607.8 8.8 639.9 12.6 635.9 13.4 644.2 10.6 346 6 379 6 375 7 381 8 391 7 388 1 392.1 398 7 330.0 353.7 351.0 354.7 361.1 356.6 359.5 362. Final sales Change in business inventories 337 2 9 4 366 2 13.4 361 7 14 0 370 3 11 4 373 2 18 5 380 9 7.1 391 6 .5 394 9 3.8 321.2 8.8 341.0 12.6 337.6 13.4 344.1 10.6 343.9 17.2 349.9 6.7 359.1 .4 359. 3. Durable goods Final sales Change in business inventories. 139 5 132 8 6 7 154 6 144 7 9.9 151 4 141 6 97 155 7 145 8 99 161 1 148 3 12 8 153 9 150 5 3.4 155 5 156 0 —.6 161 4 157 9 3.5 136.3 129 8 6.5 150.0 140 6 9.3 147.3 138 0 9.3 150.8 141.6 9.2 154.2 142.3 11.9 146.6 143.6 3.0 148.3 148.9 -.6 153. 149. 3. Nondurable goods Final sales _ ___ Change in business inventories 207 1 204 4 27 225 0 221 5 35 224 4 220 1 43 226 1 230 6 224 5 224 9 15 57 234 2 230 5 37 236 6 235.5 1l 237 3 237.0 3 193 7 191.4 2.3 203 7 200.4 3.3 203.7 199.7 4.1 203.9 202.5 1.4 206.9 201.6 5.3 210.0 206.3 3.6 211.2 210.2 1.0 209. 209. 262 9 287 2 283 5 291 6 303 1 307 8 313 5 222.3 235 2 233.5 237.9 239.8 242.7 244.4 246. 77 4 75 5 63.7 64.7 62.2 60.2 61.3 60.8 62. 654.8 661.1 660.7 664.7 672.0 604.2 602.7 606.0 612.5 586.6 563.0 23.6 593.3 569.1 24.2 15.0 Services Structures 74 4 76 5 296 9 73 5 75 2 75.2 79 0 64.4 Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8) Gross national product- 683 9 Private Business Nonfarm Farm Households and institutions Kest of the world General government 616 1 _ _ 743 3 666 7 736 7 661 5 748 8 670 6 762 1 681 9 766 3 683 9 775.1 690.9 791 2 705 2 616 7 565 8 652.6 597 5 649.3 594 8 599.0 593 4 569 8 23 6 642 4 617 6 24 8 637 6 612 8 24 8 646 2 621 6 24 6 656 9 633 0 23 9 658 7 635 1 23 6 665 3 641 9 23 3 679 6 655 3 24 4 547.8 524 2 23 6 578.9 556 4 22.4 576.3 554 4 22.0 580.2 558.0 22.2 585.1 562.7 22.4 583.6 559.9 23.7 18 5 20 1 19 7 20 3 20 6 21 1 21 4 21 2 14 0 14.7 14.4 14.8 14.9 15.1 15.3 4.2 42 42 41 4 4 41 4.2 4.3 4.1 4.0 4.1 4.0 4.3 4.0 4.0 4.1 58.7 59.6 67 8 76 6 75 1 78 2 80 2 82 5 84.2 86 0 50 8 55.0 54.4 55.8 56.9 57.9 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 19f,l and descriptive notes are shown in the 1%5 edition of BUSINESS STATISTICS 1965 1964 i 1966 III A mual total in i i ii 1967 1966 1965 IV IV I III II | IV I II III Seasonally adjusted quarterly totals at annual rates GENERAL BUSINESS INDICATORS—Quarterly Series NATIONAL INCOME AND PRODUCT! bil $ 63'? 4 683.9 743.3 638. 9 645.1 662.7 675.4 690. 0 708.4 725.9 736.7 748.8 762.1 766.3 775.1 r 791. 2 Personal consumption expenditures, total do 401.2 433. 1 465. 9 406. 6 408.9 420. 2 428. 1 436.4 447.8 458. 2 461.6 470.1 473.8 480. 2 489.7 r 495. 3 Durable goods total 9 Automobiles and parts Furniture and household equipment do do do 59 2 °5 8 25.0 66.0 29.9 27.0 70.3 29.8 29.9 60.7 26. 9 25.1 58.7 24. 6 25.6 65. 2 30.4 25.8 64.2 29. 2 26.1 66. 1 29. 8 27.3 68.6 30.3 28.9 71.6 31.4 29.4 68.2 28. 5 29.1 70.9 29.8 30.6 70.6 29.6 30. 6 69.4 27.3 31.4 72.5 29.7 31.9 ' 29". 9 r 32. 1 do do do do 178.7 33. 5 92.9 14.0 191. 2 36.1 99.0 15.1 207. 5 40.3 106. 7 16.2 181.3 34.2 94. 0 14. 1 182. 9 34.5 95. 1 14.3 184.6 34.6 95.6 14.3 189.8 35.6 98.3 15.1 192. 4 36. 2 99. 4 15.3 198.0 37. 8 102. 5 15.7 39 5 105! 2 15.8 207.1 39.8 107. 0 16. 2 209. 5 41.0 107. 3 16.3 210.3 40.8 107. 2 16.6 214. 2 41. 5 109. 3 17.1 217. 2 43.2 110. 1 17.5 r 110.9 ' 17. 5 do do_ ..do .. do 163. 3 24.3 59.3 11.6 175. 9 25. 7 63.6 12.6 188.1 27.0 67. 1 13.6 164. 6 24.5 59.8 11.7 167.3 24.5 60. 8 11.8 170. 4 24.7 61.9 12.0 174. 2 25. 5 63.2 12. 5 177.8 26. 1 64.2 12.8 181.2 26. 5 65. 3 13 1 183.5 26.1 66. 2 13.2 186. 3 26. 9 66. 5 13.5 189.8 27.4 67.4 13.7 192.9 27.7 68.5 14.0 196. 6 27.8 69.6 14.4 200. 0 28.1 70.6 14.6 Gross private domestic investment, total do 94.0 107.4 118.0 94.2 97.9 105. 1 105. 1 108. 2 112. 3 115. 2 118. 5 116.4 122. 2 110.4 105. 1 r 112.2 Fixed investment . .. ._ Nonresidential Structures Producers' durable equipment Ke^idential structures _ Ncnfann Change in business inventories Nonfarm _ . .do___ do do do do. do do do 88.2 61.1 21 ° 39.9 27.1 26.6 5.8 6.4 98.0 71. 1 25. 1 46. 0 27.0 26.4 9.4 8.4 104. 6 80.2 27.9 52.3 24.4 23, 8 13.4 13.7 89.4 62.4 94.4 67.3 23 1 44.1 8. 1 105. 3 78.3 28 3 50.0 27.0 26. 5 9.9 9.6 104. 5 78.7 27. 5 51.2 25.8 25.3 14.0 14.4 104. 9 81.2 28. 2 53.1 23.7 23. 2 11.4 12.0 103.7 82.8 27.7 55. 1 20.9 20.4 18.5 19.0 54.' 2 21.4 20.9 7.1 7. 3 104.6 81.5 26.3 55.2 23.1 22. 5 .5 .6 f 108.4 46.8 26. 9 26. 4 9.4 7.9 102. 4 75. 7 27. 3 48.3 26. 8 26. 2 9.9 8.7 103. 3 81.9 26. 6 10. 6 10.1 96.3 69.3 24 7 44. 6 27. 0 26. 5 8.8 7.9 98. 8 71.9 41.0 27. 0 26,5 4.8 5.6 90.2 63.4 21 8 41. 6 26. 8 26. 3 do do do. 8.5 37.1 28.6 6.9 39.1 32. 2 5.1 43.0 37.9 8.7 37.5 28. 8 8.5 38.3 29.8 6.1 35. 1 28.9 8.2 40. 7 32. 6 7.4 40.3 32.9 6.1 40.5 34.4 6.. 1 42.0 36.0 5.4 42.5 37.1 4.6 43.7 39.0 4.3 44. 0 39.7 5.3 45.3 39. 9 5.3 45. 1 39. 8 Govt. purchases of goods and services, total.. do Federal..... _. ._ ... . .. .. ... do _ National defence do State and local do 128. 7 65,2 50.0 63 5 136. 4 66. 8 50.1 69 6 154. 3 77.0 60. 5 129. 4 65.2 49. 8 64 129. 8 64. 5 48. 9 65 3 131. 3 64. 3 48. 4 66 9 133.9 65. 4 49. 2 68 6 138. 1 67. 6 50. 3 70 4 142. 3 69.8 52,4 146. 5 72. 1 151.2 74.9 58.4 157. 7 79.5 63. 0 78.1 161. 7 81.5 65. 6 80.2 170.4 87. 1 70. 2 83. 3 175.0 89.5 By major type of product :f Final sales, total Goods, tot al Durable goods Nondurab'e good^ Services , Structures 074 X 626 6 313. 6 337. 2 122 8 ' Oal 132.8 4 190 7 262. 9 244. 2 68.8 74.4 634. 3is 124 193. 2 46. 69. 637. 4 317. 9 1 23. 3 lOi. 7 21't. 1 69. 3 652. 0 32x9 12'). ti 332! 8 UO 0 680. t> 340. 2 1 3.i. 9 254! t\ 71. 6 26a i 73. 6 266 0 74.4 60H. 5 3 i9. 9 137.0 212 0 271.0 77.6 716.0 359. 6 143.2 216.4 276. 6 79.9 722. 6 361. 7 141,6 220. i 283. 5 77.4 737. 4 370. 3 145, 8 224. 5 291.6 75.5 743. 6 373. 2 148. 3 224. 9 296. 9 73.5 759. 2 380. 9 1 50. 5 230. 5 303. 1 75. 2 774. 6 391.6 1 56. 0 235. 5 307. 8 75. 2 r 7H7. 4 394. 9 157.9 237. 0 313.5 79. 0 7. 7 4.5 3.2 10.6 8.7 2.0 8.8 7.0 1.8 9.4 7. 1 2. 3 9.9 5.0 4.9 9.9 7.4 14.0 9.7 4.3 11.4 9.9 1.5 18. 5 12.8 7. 1 3.4 3.7 .5 -.6 1.1 ••3.S 3. 5 .3 Gross national product total t Nondurable goods, total 9 Clothing and shoes Food and beverages Gasoline and oil Services total 9 Household operation I lousing _ Transportation __ - _ ._ _ . Xet exports of goods and services FA ports Imports „- _ . . . _ _ . - do do do_ do do do Change in business inventories Durable goods ._ N endurable goods . ._ do ... do._. do 7Xi Q 366. 2 114 7 ''87, 2 76. 5 5.8 4.2 1.6 9.4 6.7 2.7 13.4 9.9 3.5 91 4 4.8 4.2 .6 74! 3 85^4 r 218. 5 43.7 r 204. 1 28. 1 71.9 14.8 r82.8 ' 26. 6 >• 56. 2 r 25. 6 r 25. () r 3. 8 r 3. 4 '5.4 r 45. 6 40. 2 r 178.2 r 90. 9 ' 73. 3 r 87. 4 GNP in constant (1958) dollars Gross national product, totalf Durable goods Nondurable goods Services Gross private domestic imestmi-nt, total Fixed investment Nonresidential.. ... . _ K c s i d e i i t n l s t r u e t u r t s__ Change m business imentones \ c t e \ p o r t s o f g o o d s md services 581. 1 616. 7 652.6 585. 8 588. 5 601.5 609. 7 620. 7 634.4 645.4 649.3 654.8 661. 1 660. 7 664.7 r 672. 0 do 373.7 398.4 418.0 378.6 379. 3 389. 1 394. 1 400. 7 409.9 416. 2 415. 2 420. 4 420.4 424. 2 430. 6 431,5 do do do 59.0 170.3 144. 4 66.4 178.9 153. 2 71.3 187. 7 159. 1 60.4 172.8 145.3 58.7 173. 5 147. 1 65. 0 174.7 149.4 64. 1 178.0 152. 0 66. 8 179.3 154.6 69. 5 183.6 156.8 73.0 185.8 157.3 69. 3 187.7 158. 2 71. 9 188.8 159. 8 71.1 188. 4 160. 9 69. 7 191.8 162.6 72.9 193. 6 164. 1 192.8 100.0 do 87.8 98.0 105. 6 87.6 90.8 95. 9 95. 9 98 3 101.6 104.0 106. 5 103.6 108. 4 96. 9 91. 3 96. 4 do do do do 81.9 57 8 24 2 5. 8 89.1 fifi 0 23 2 ' 8. 8 93. 0 82 8 r )S. 9 23 9 4 8 83 2 86 6 62 9 ^9 6 >'l 5 7 6 9.3 S7 f.4 >3 8 92. 4 69. 7 ~> > t] 9 2 94.5 71.8 22 8 9.5 93.1 71. 7 21. 4 13.4 93. 0 73.6 19.4 10.6 91. 2 74. 2 17.0 17 2 90. 2 73. 0 17.3 6. 7 90. 9 72. 6 18.3 4 92. 9 73. 2 19.7r 3. > 4 1 4 1 4 2 1 V) 0 i' 1 (M 2 MS 7 71 4 * ' } ... bil. $ Personal consumption expenditures, total . ___ do Go\ t purchases of goods ( md si r\ ices, t o t a l do Foderil _. . "do """ ^ t a t e ami lor \\ . _ __ do 8. 3 111.2 58 1 53 2 60 114 3 57 8 56 4 • 20 ~> 12. 6 44 i:4 5 hi. 7 59 9 23 0 8.4 7.9 5. 2 6 8 0 4 5.6 5.4 4.8 4.1 3 2 I no ' 111 3 56. 3 5" 0 11J 9 IB 3 58 5 117.4 59 3 58 < ) 119.9 61 2 58 7 122 7 63 4 126 f) 66 4 (0 1 129 t t>7 8 hi '5 p'101 o M ,* 1 for p< i separ, It ""' 11! 53 8 "3 5 HrM n od r Pnlmiinarx tKeuHvl ^nes 1fstimatf ' of i, itiMiJ i ICOHH IK! p > o d m t M M ! p n ^ o u a l i i u o i m h i \ ( b u n n \ i s t d (see P 13 IT ( f t h t I . l U J « ) r > ' , foi data beginning 1964, for data prior to 19b3, see p 11 f ! of the July I960 S i R V L 1 ); rru'i r 9 r > 4 0 "n 1 5") *> . I S O ' ,)l L O i l p- IS >p< M 01 1! of th e Juh 11 p 21 < f \ i h i <) f ' \ '\ n i ' i i 1 it i no i f \ n S-l SURVEY OF CURRENT 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 IV November 1967 1966 1965 I III II IV I II 1967 III IV I II III IV GENERAL BUSINESS INDICATORS— Quarterly Series— Continued NATIONAL INCOME AND PRODUCT— Con. Quarterly Data Seasonally Adjusted at Annual Rates 544.9 562.4 530.4 616.7 518.1 National income totalt bil $ Compensation of employees total do 365.7 393.9 435.7 375.8 381.5 347.7 359.1 342.7 Wages and salaries, total do 333.7 394.6 Private . do 269.4 316.7 276.5 280.8 289.8 12.1 11.8 Military do 14.7 11.9 11.7 57.1 63.2 55.1 Government civilian do 54.3 52.6 32.0 41.1 33.8 Supplements to wages and salaries _ do 34.9 33.1 56.7 55.0 Proprietors' income, total 9 . _ do 52.3 59.3 53.3 41.4 Business and professional 9 do 40.2 41.9 43.2 40.6 Farm _ _ -_ _ do 12.1 13.6 14.8 12.6 16.1 19.0 Rental income of persons _ _ _ do 18.0 19.4 18.4 18.6 Corporate profits and inventory valuation adjust66.4 82.2 72.6 ment, total _ _ bil $ 66.3 74.9 By broad industry groups: 8.2 8.4 8.0 Financial institutions do 7.9 9.3 58.4 66.5 58.5 64.4 Nonfinancial corporations total do 72.9 Manufacturing, total do 32.7 38.7 32.4 37.5 43.1 18.7 15.9 Nondurable goods industries do 14.9 16.5 15.3 22.2 24.4 17.2 21.6 Durable goods industries do 17.8 Transportation, communication, and public 10.1 11.2 utilities bil $ 11.9 10.6 10.3 All other industries do 15.5 16.6 18.0 15.7 16.3 74.0 Corporate profits before tax, total do 66.8 76.6 67.4 83.8 Corporate profits tax liability do 31.4 30.3 28.3 34.5 28.6 Corporate profits after tax do 38.4 43.7 45.2 49.3 38.8 Dividends do 18.7 17.8 19.8 21.5 18.3 25.4 25.0 Undistributed profits do 20.6 27.8 20.5 Inventory valuation adjustment do -.5 -1.4 -1.7 -1.0 -1.6 Net interest . do 15.8 17.9 20.2 17.1 16.6 DISPOSITION OF PERSONAL INCOMEf Quarterly Data Seasonally Adjusted at Annual Rates Personal income, total... bil $ 497.5 584.0 537.8 510.5 520.3 Less: Personal tax and nontax payments. do 59.4 75.2 65.6 64.3 60.9 Equals: Disposable personal income do 438.1 472.2 508.8 449.6 456.0 Less: Personal outlays© .. do 411.9 445.0 479.0 420.1 431.6 Equals' Personal saving§ do 26.2 27.2 24.5 29.8 29.5 NEW PLANT AND EQUIPMENT EXPENDITURES Unadjusted quarterly or annual totals: All industries bil $ 44.90 10.79 51.96 12.84 60.63 Manufacturing _ _ do 18.58 4.54 22.45 5.59 26.99 Durable goods industries do 9.43 2.83 2.25 11.40 13.99 Nondurable goods industries do_ 9.16 2.76 2.28 11. 05 13.00 Mining do 1.19 .33 .29 1.47 1.30 Railroad. do 1.41 1.9S .35 .39 1.73 Transportation, other than rail do 2.38 3.44 2 81 .64 .58 Public utilities _ do 6.22 8.41 1.32 1.76 6.94 Communication do 4.30 5.62 1.17 4.94 1.08 Commercial and other do 10.83 12.74 2.59 3.01 11.79 Seas. adj. qtrly. totals at annual rates: All industries do 47.75 49.00 Manufacturing do 20.75 20.15 Durable goods industries do 10.15 10.40 Nondurable goods industries do 10.00 10.40 Mining . do 1.30 1.25 Railroad do 1.55 1.75 Transportation, other than rail do 2.55 2.60 Public utilities do 6.35 6.80 Communication do 4.40 4.55 Commercial and other do 11.40 11.30 U.S. BALANCE OF INTERNATIONAL PAYMENTS^ Quarterly Data Are Seasonally Adjusted (Credits +; debits -) Exports of goods and services (excl. transfers under military grants) mil $ 37, 099 39, 147 9,565 8,768 43, 039 Merchandise, adjusted, excl military do 25, 297 26,244 29, 168 6,587 5,628 Military sales do 747 210 844 198 847 Income on U.S. investments abroad do 1,322 5,389 1,499 5,888 6,245 Other services do 1,431 5,666 1,458 6,171 6,779 Imports of goods and services do -28, 637 -32, 203 -37, 937 -7,440 -7, 232 Merchandise, adjusted excl military do -18, 621 21 472 -25, 510 -4,907 -4, 669 Military expenditures do -671 -691 -2, 861 -2, 921 -3, 694 Income on foreign investments in the U.S._do -401 -1,455 -1, 729 -2, 074 -380 Other services do -1,491 -1, 462 -5,700 -6, 081 -6,659 Unilateral transfers, net texcl. military grants); transfers to foreigners ( — ) mil $ -664 -680 -2, 782 -2, 824 -2,925 Transactions in U.S. private assets, net; increase (— ) mil $ -6,542 -3, 743 -4,213 -2, 104 -1, 657 Transactions in U.S. Govt. assets, excl. official reserve assets' increase ( ) mil $ -396 -1,674 -1,575 -1,531 -579 Transactions in U.S. official reserve assets, net; increase (-) mil. $__ 842 -151 171 1, 222 568 Transactions in foreign assets in the U.S., net (U.S. 286 1,724 liabilities); increase (+)-- ._ mil. $ 3,314 3,301 391 Liquid assets do -24 1,485 789 2,629 113 Other assets do 310 2,512 239 685 278 53 Unrecorded transactions.. _ __ do -302 -335 -415 -949 Balance on liquidity basis—increase in U.S. official reserve assets and decrease in liquid liabilities to all foreigners; decrease (-) mil. $... -2,800 -1, 335 -1,357 -1,334 -818 Balance on official reserve transactions basis— increase in U.S. official reserve assets and decrease in liquid and certain nonliquid liabilities to foreign -834 official agencies; decrease (-) mil. $_ _ -1,548 -1,304 -618 225 r Revised. * Preliminary. 1 si ness, Estimates for July-Sept. 1967 based on anticipate>d capital expendit ures of bu 2 Estimates for Oct.-Dec. 1967 based on anticij)ated capital expe nditures of busin ess. Anticipated expenditures for the year 1967 are as folk>ws (in bil .$):Alliiidustries, 62.03; meinufacturing, total, 27.31; durable goods industries, 14 10; nondiirable g<30ds indu stries, K .21; mining, 1.48; railroad, 1.57; transportation, 3.92; pulblic utiliti es, 9.41; commerci al and o ther (Incl. communication), 18.34. » Includes commuE ication. 555.3 388.6 354.2 286.2 11.7 56.3 34.5 56.7 41.7 15.0 18.9 566.5 397.2 362.0 292.1 12.1 57.8 35.2 57.2 42.0 15.2 19.1 582.8 408.4 372.4 300.0 13.1 59.4 36.0 57.8 42.5 15.3 19.2 600.3 420.8 381.3 306.9 13.6 60.7 39.5 60.0 42.8 17.1 19.2 610.4 430.7 390.2 313.8 14.2 62.2 40.5 59.3 43.3 16.0 19.3 622.1 441.2 399.6 320.1 15.1 64.3 41.6 59.2 43.3 15.9 19.4 634.1 450. 2 407.4 326.1 15.8 65.6 42.7 58.6 43.4 15.1 19.6 636.4 459.1 414.7 331.4 16.1 67.3 44.4 57.8 43.2 14.6 19.8 641.6 463.4 418.3 333.2 16.2 68.9 45.2 57.8 43.4 14.3 20.0 p 653. 6 ' 472. 6 ' 426. 2 ' 339. 4 16.3 70.6 '46.4 58.8 43.8 15.0 20.2 73.4 74.9 78.7 81.1 81.3 81.9 84.6 78.1 78.3 P79.3 8.4 65.0 37.7 16.0 21.6 8.4 66.5 38.6 16.5 22.1 8.6 70.0 41.0 17.4 23.7 8.9 72.2 42.7 18.3 24.3 9.0 72.2 42.5 18.5 24.0 9.5 72.4 42.7 18.8 23.9 9.6 75.0 44.4 19.2 25.3 9.6 68.5 39.6 18.4 21.1 9.5 68.8 38.9 17.8 21.1 P9.8 P69.5 10.9 16.5 75.6 30.9 44.6 19.4 25.2 -2.1 17.6 11.2 16.7 75.8 31.1 44.8 20.2 24.6 -.9 18.2 12.0 17.0 80.8 33.1 47.7 20.9 26.8 -2.2 18.8 11.7 17.8 83.7 34.5 49.2 21.4 27.8 2.6 19.3 12.0 17.8 83.6 34.5 49.2 21.6 27.6 -2.3 19.8 11.8 17.9 84.0 34.6 49.4 21.6 27.8 -2.2 20.4 12.0 18.6 83.9 34.6 49.3 21.2 28.2 .7 21.1 11.7 17.3 79.0 32.5 46.5 22.2 24.2 11.9 18.0 78.9 32.5 46.5 23.1 23.4 -.7 22.1 530.1 66.1 464.0 439.9 24.0 544.6 65.2 479.4 448.5 30.9 556.1 66.7 489.4 460.1 29.3 567.8 70.4 497.5 470.9 26.6 577.3 74.1 503.3 474.6 28.7 589.3 76.9 512.4 483.2 29.2 601.6 79.6 522.0 487.4 34.6 612. 9 , 80.2 532.7 493.9 38.8 619.1 ' 631. 0 79.1 82.8 540.0 r 548. 2 504.0 '509.6 36.0 '38.5 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 6.84 3.54 3.30 .37 .48 .82 2.36 1.36 3.33 17.00 7.75 4.07 3.68 .38 .55 .86 2.36 1.58 3.52 13.59 6.10 3.08 3.02 .32 .41 .70 1.84 1.35 2.87 15.61 6.81 3.46 3.34 .34 .41 1.12 2.46 1.49 2.99 U5. 77 2 17. 06 6.72 7.69 3.44 4.12 3.28 3.57 .39 .42 .37 .37 1.05 1.06 2.61 2.51 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 27.55 14.35 13.20 1.45 1.85 3.40 8.55 5.60 12.85 62.80 27.75 14.50 13.25 1.45 2.35 3.50 8.50 5.95 13.30 61.65 27.85 14.20 13.70 1.40 1.80 3.05 9.20 5.75 12.55 61.50 27.00 13.75 13.25 1.30 1.55 3.90 9.70 5.80 12.25 162.50 2 62. 65 27.10 27.35 13.95 14.50 13.15 12.90 1.55 1.60 1.45 1.45 4.40 4.35 9.10 9.65 10,511 10, 618 7,203 7,181 209 222 1,469 1,535 1,630 1,680 -8,997 -9, 265 6 025 -6, 225 -861 -911 -475 -471 -1, 636 -1,658 10, 913 7,382 206 1,587 1,738 -9, 762 -6, 580 -953 -565 -1, 664 10, 997 7,402 210 1,654 1,731 -9, 913 -6,680 -969 -563 -1, 701 11,383 7,691 339 1,585 1,768 -10,034 -6,692 -1,045 -557 -1,740 -709 -632 10.180 10, 080 10,119 6,811 6,925 6,880 212 192 230 1,353 1,474 1,562 1,565 1,629 1,546 -8, 139 -8, 233 -8, 599 -5, 475 -5, 556 -5, 772 -754 -785 -711 -424 -435 -469 -1, 529 -1,488 -1, 573 Q 2L 6 -660 -851 -733 -389 -885 -812 -981 -1,135 -490 -244 -445 -365 -500 -328 -338 -741 p -534 68 41 271 424 68 82 ~6 1,027 p -419 -342 -267 -75 -113 211 416 -205 -245 236 -12 248 -110 492 227 265 -233 1,145 54 1,091 -198 459 83 376 277 1,205 425 780 -148 335 p 2, 222 p931 -489 824 p 1,291 -284 p-576 -457 -259 -122 -165 -419 -538 £ri 35.01 3 18. 30 3 18. 70 -728 p-787 -725 199 34.63 pll,338 p 7, 723 p 7, 670 r> 334 p 1, 550 p 1, 731 p-10,038 p-6,587 p-6,544 p-1,052 p -545 p-1,854 -775 -932 -1,165 P80.1 P33.0 P47.2 23.4 p23. 7 --.8 '22.7 -958 p-1,130 p-512 p-670 P462 -18 -1,827 p -814 -443 -175 861 -916 207 239 tSe e corresp ending n ote on p. S-l. 9Tiicludes iiiventory valuatio n adjust]nent. ep ersonal (>utlays c om prise personal consum ption ex penditur 33, intere st paid by consume rs, and p ersonal t "ansfer p ayments to foreigrlers. §Pe rsonal sa ving is e scess of c isposable income over pers onal out ays. cfJV Lore com Dlete deta ils are ghren in the quarter y review 3 in the IVIar.,Jun e, Sept., a nd Dec. issues of the SiJRVEY; q uarterly revisions back to ; 960 are o a p. 22 ff of the Se pt. 1967 £ URVEY.
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