Full text of The National Income and Product Account : Third Quarter 1962

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BUSINESS STATISTICS
J_ 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

1959 | 1960 1961
Annual total

1960

1959

III

| IV

I

II

1961
III

IV

I

II

1962
III

IV

I

| II

III

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT!
Xational income, totalf..
Compensation of employees, total

__bil. $

400.5

415.5

427.8

400.6

403. 9

413.9

417. 2

416. 6

414.4

411.8

424.3

431.3

444.0

448.9

456.7

459,8

do

278, 5

293. 7

302.2

280. 2

283. 0

290. 6

294.6

295. 8

293.9

294. 1

300.2

304. 5

309.9

315.2

321.7

323.8

258. 5
213.1
9.9
35.4
20.1
46.5
35. 1
11.4
11.9

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

259. 9
214.4
9.9
35.7
20. 3
46.0
35.4
10.6
11.9

262. 5
216. 5
9.8
36.1
20.6
45. 9
35. 1
10.8
11.9

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

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

47.2

45.6

45.5

46.1

46.0

48.6

46.2

44.4

43.3

40.1

45.0

46.0

51.1

50.4

50.7

51.0

do
do
do
__do
do
do_

47.7
23 2
24. 5
13.7
10.8

45.4
22 4
23.0
14.4
8.6
.2

45.6
22 3
23. 3
15.0
8.3
.0

46.5
22.6
23.9
14.1
9.8

45.3
22. 0
23. 3
14. 2
9. 0

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

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

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

__do

16.4

18.1

20.0

16.4

17.0

17.6

17.7

18.2

18.8

19.1

19.8

20.3

21.0

21.5

22.0

22.5

do

482.7

503. 4

518.7

482.7

488. 5

501.7

504.8

503.7

503. 3

500.8

513.1

522. 3

538. 6

545. 0

552.0

555.3

Personal consumption expenditures, total. .do

313.5

328. 5

338.1

316.7

318. 8

323. 9

329.9

329. 8

330. 5

330.5

335. 5

340.1

346. 1

350. 2

354. 9

358. 2

43.6
18.1
18.9
147.1
27.5
77.7
11.1
122. 8
18.1
39.6
10.0

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

44.9
18.9
19.2
147.7
27.7
77.4
11.3
124. 0
18.2
39.9
10. 2

43.1
16.9
19.3
148.9
27.8
78.3
11.3
126. 8
18.8
40.3
10.5

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

do

72.7

72.4

69.3

68.8

73.2

79.1

73.5

70.3

66.5

60.1

67.6

72.4

76.6

75.9

77.4

76.3

do.
do
do
do
do

40.2
22 3
25.9
6.6
6.5

40.7
21 1
27.6
4.1
3.7

41.6
21 0
25.5
L9

41.0
22 6
26.6
1.1
1.1

39.6
21.3
26.4
7.1
7.0

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
-1.1
-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

do
do
do

— 8
22 9
23.6

2 9
26.4
23. 5

4.0
27.3
23. 3

-.5
23.8
24.3

.0
23.8
23. 9

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

97.2
53.6
46.2
43.6

99.7
53.2
45.7
46. 5

107. 4
57.0
49. 0
50.4

97.8
54.0
4t>. 4
43.8

96. 5
52. 8
46.1
43.7

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

476. 1
244. 0
91.5
152. 5
175. 8
56.3

499. 4
254, 1
95. 0
159.2
188. 6
56.7

516. 6
257. 2
94, 0
163.3
200. 7
58.6

481.5
247. 0
93.1
153.9
177.6
56.9

481.4
245.7
91.9
153. 8
181.3
54.4

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

4.1
Inventory change, total
do. _.
6.6
2 1
7.1
2.1
10.8
4.4
1.1
-1.1
Durable goods
___do
3.5
2.3
.0
-2.0
2.6
8.6
2.8
-3.3
1.0
Nondurable goods.
__ _
do
2.1
3.1
3.1
4.5
2.2
1.8
1.1
2.2
1.6
T
Revised.
f Revised series. Estimates of na tional in come aiKI produc ; and pei"sonal
eludes d ata not shown ser>aratelv.

-3.6
-5.5
1.9

2.1
-1.3
3.4

4.0
3.4
.6

6.0
3.5
2.5

6.7
3.5
3.1

4.0
1.9
2.2

1.0
1.9
-.9

Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
Dividends
_
_
Undistributed profits
Inventory valuation adjustment.
Net interest

.

. ._

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 0
do
Household operation
do
Housing
do
Trail spor tation
do
Gross private domestic investment, total
New construction
Residential nonfarm
Producers' durable equipment
Chanee in business inventories
Nonfarm
Xet exports of goods and services
Exports
Imports

Govt. purchases of goods and services, total., do
Federal (less Government sales)
do
National defense 9
do
State and local
__do
By major type of product:*f
Final sales, total _~ __
Goods output, total
Durable goods
Nondurable goods
Services
Construction

_
_

_ do _
do
do
do
do
do

r

inomnp. hn.vp, bppn rpvisp.rl hank to IQftQ- revisions nrio r to Mav 1Q61 for IP r son a 1




nfomp n rmpnr

dflta ha ^lr tn 1Q4 7

QPP n

9Go^-ernmenI t sales are not ded acted.

^ r»f thp Tnlir 1Qfir STTT>VTT \T

*For qu arterly

S-l

SURVEY OF CUEEENT BUSINESS

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

1959

1960 | 1961
Annual total

1961

1960
I

II

January 1963

III

IV

I

II

1962
III

IV

1963

I

II

III

IV

I

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 totalf
_
bil. $

428.6

440.2

447.9

440.9

442.3

439.7

437.7

433.9

443.9

450.4

463.4

467.4

470.8

471.6

Personal consumption expenditures total do

288.9

298.3

304.3

295.6

299.7

299.1

298.8

298.2

302.5

306.0

310.6

313. 9

316.9

319.0

do
do

41.0
138.7
109.2

42.2
141.4
114.7

41.6
143.3
119.4

42.4
140.6
112.6

43.0
142.3
114. 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

do

61.7

60.7

57.8

66.7

61.5

58.6

55.8

50.0

56.5

60.4

64.1

63.3

64.1

62.4

do
do
do _

34.4
21.4
5.9

34.3
22.7
3.7

34.8
21.1
2.0

34.6
22.6
9.6

34.2
23.3
4.0

34.0
22.7
1.9

34.3
22.2

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

-2.1

1.5

1.8

_ 2

1.0

1.5

3.3

3.5

1.7

.7

1.4

1.3

80.1
43.9
36.2

79.8
42.3
37.4

84.0
44.5
39.4

78.4
42.0
36.4

80.0
42.9
37.1

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

383. 9
46.8
337. 1

400.8
51.4
349. 4

416.4
52. 8
363.6

395.4
51.4
344.0

401.4
51.9
349.6

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

23.6

20.9

25.6

20.1

19.7

22. 0

22.2

23.8

25.5

26.3

26.5

25.4

26.9

26.0

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

Government purchases of goods and services, total
Federal
State and local

do
do

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
TvC^s' Personal tix and nontax payment 0
do
Equ*~ils° Disposable personal income
do
Personal savins §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals or averages:
All industries
bil. $

-.3

8.14

8.92

8.59

7.89

9.28

8.98

9.53

7.57

8.61

8.65

9.54

8.02

9.50

9.62

i 10.28

28.48

Manufacturing
Durable goods industries
.
Nondurable goods industries

do
do__
do

3.02
1.44
1.57

3.62
1.80
1.82

3.42
1.57
1.85

3.09
1.55
1.54

3.76
1.88
1.88

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

4.26
2. 15
2.11

3.33
1.57
1.76

Mining
Railroads
Transportation other than rail
Public utilities
Commercial and other

_

do
do
do
-_do
do

25
.23
.51
1.42
2.72

.25
.26
.48
1.42
2.89

.24
.17
.46
1.38
2.92

.22
.25
.47
1.18
2.69

.27
.29
.55
1.42
2. 99

.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
.50
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

.30
.21
.48
1.50
3.53

.26
. 17
.40
1.07
3.26

35.15

36. 30

35. 90

35.50

33.85

33.50

34.70

35.40

35.70

36.95

38.35

14.10
7.15
6.95

14.70
7.40
7.30

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. 50
7.75
7.75

14.95
7.10
7.85

Public utilities
do
Commercial and other
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adjusted)
thous _ 3 4, 583 34,658 3 4, 713

1.00
1.00
2.00
5.75
11.35

1.05
1.10
2.15
5.70
11.60

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

1.15
.80
1.80
5. 40
13.70

1.15
.70
1.80
5.30
13.80

4,690

4,710

4,720

4,730

4,740

4,750

4,760

4,770

4,780

4,790

4,800

U.S. BALANCE OF INTERNATIONAL
PAYMENTS*
Quarterly Data are Seasonally Adjusted
U S payments recorded
mil $

Seas. adj. qtrly. totals at annual rates:
T) uraoie
V>1

r f ~ in
] ~ d IK«?t
goous

ip<? ___

Mining
Railroads

do
do

Imports:
Merchandise
Military expenditures
Other services
Remittances and pensions
Govt. grants and capital outflows
U.S. private capital--Direct investments
Long-term portfolio
Short-term __
U.S. receipts, recorded

do

-

Exports:
Merchandise
Services and military sales
Repayments on U.S. Govt. loans
Foreign capital other than liquid funds

29, 548

31,317

31, 805

7,549

7,690

8,000

8,078

7,690

7,411

8,082

8,622

8,283

8,093

8,282

do
do
do
do
do

15, 31*
3,107
4,925
791
3,040

14, 723
3,048
5,417
842
3,405

14, 514
2,947
5, 462
878
4,051

3,801
771
1,347
204
768

3. 836
'758
1, 375
205
833

3,664
797
1,368
211
826

3,422
722
1,327
222
978

3,369
770
1,309
221
962

3,417
756
1,337
221
804

3, 840
699
1,388
216
1,094

3,888
722
1,428
220
1, 191

3,920
1,390
234
1,040

4,032
746
1,450
223
1,059

4,130
730
1, 473
221
1,118

do
do
do
do

2,375
1, 372
926
77

3,882
1,694
850
1,338

3,953
1,475
1,006
1,472

658
324
236
98

683
271
209
203

1, 134
415
170
549

1,407
684
235
488

1,059
457
120
482

876
269
218
389

845
429
194
222

1,173
320
474
379

947
230
397
320

583
400
284
-101

610
300
137
173

do

25, 393

27, 984

29, 946

6, 865

7,055

7,002

7,062

7,400

7,953

6,979

7,614 ' 7,685

8,001

8, 057

do
do
do
do

16, 282
7,194
1, 054
863

19, 459
7,554
636
335

19, 915
8, 151
1,274
606

4, 657
1,827
170
211

4, 876
1, 909
147
123

4,940
1,843
172
47

4,986
1,975
147
-46

5, 061
2,008
133
198

4,768
2, 060
851
274

4,940
1, 951
81
7

5,146
2,132
209
127

5, 063
2,189
143
4290

5,339
2.326
220
116

5,170
2,200
616
71

-684

-635

-998 -1,016

542 -1,103 -1,008

-598

-92

-225

Excess of recorded receipts or payments (— )._.do
Unrecorded transactions

do

Total, net receipts (+) or payments (— )

do

Major special transactions

do

Total, excluding special transactions

do

-4, 155 -3, 333 -1, 859
412

-592

-602

-3, 743 -3, 925 -2, 461
335

-524

4

-775

-680

-695

129

-4, 078 -3, 401 -2, 590

-140

-680

-297

-29

-366

-319

176

-444

-80

* Revised.
» Preliminary.
1
Estimates for Oct.-Dec. 1962 based on anticipated capital expenditures of business.
2 Estimates for Jan.-Mar. 1963 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1962 are as follows (in bil. $): All industries, 37.41;
manufacturing, total, 14.80; durable goods industries, 7.15; nondurable goods industries,
mining, 1.11; railroads, .86; transportation, 2.04; public utilities, 5.47; commercial and
Digitized for 7.65;
FRASER
other,
13.13.
s Unadjusted. Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1962
http://fraser.stlouisfed.org/

Federal Reserve Bank of St. Louis

-159

-1,157 -1,313

-290

-1,157

-869

724

-319

-548

193

-400

-910 -1,408
75

-835

-520
—888

106

-492
100

-592

-134
-226
76

-302

1

38. 35 2 37. 70

:; : : : :;;;;;::

494

-no
473

-1,192

(based on incomplete data) is 4,752,000.
* Includes changes in nonliquid Govt. liabilities.
t See corresponding note on p. S-l (revisions prior to 3d qtr. 1959 appear on p. 8 flf. of
the July 1962 SURVEY.)
§ Personal saving is excess of disposable income over personal consumption expenditures
shown as a component of gross national product on p. S-l.
t More complete details are given in the quarterly reviews in the Mar., June, Sept.,
and Dec. issues of the SURVEY. Revisions prior to 4th qtr. 1959 will be available later.