erp1971 appendixes 3
TRANSCRIPT
Appendix C
STATISTICAL TABLES RELATING TO INCOME,
EMPLOYMENT, AND PRODUCTION
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTSNational income or expenditure: Page
G-l. Gross national product or expenditure, 1929-70 197G-2. Gross national product or expenditure, in 1958 prices, 1929-70 198C-3. Implicit price deflators for gross national product, 1929-70 200C-4. Gross national product by major type of product, 1929-70 202G-5. Gross national product by major type of product, in 1958 prices,
1929-70 203C-6. Gross national product: Receipts and expenditures by major economic
groups, 1929-70 204C-7. Gross national product by sector, 1929-70 206C-8. Gross national product by sector, in 1958 prices, 1929-70 207C-9. Gross national product by industry, in 1958 prices, 1947-69 . 208C-10. Personal consumption expenditures, 1929-70 209C-l 1. Gross private domestic investment, 1929-70 210C-12. National income by type of income, 1929-70 211C-l 3. Relation of gross national product and national income, 1929-70. . . . 212C-14. Relation of national income and personal income, 1929-70 213C-15. Disposition of personal income, 1929-70 214G-l 6. Total and per capita disposable personal income and personal con-
sumption expenditures, in current and 1958 prices, 1929-70 215C-17. Sources of personal income, 1929-70 216G-18. Sources and uses of gross saving, 1929-70 218G-19. Saving by individuals, 1946-70 219C-20. Number and money income (in 1969 prices) of families and unrelated
individuals, by race of head, 1947-69 220
Population, employment, wages, and productivity:C-21. Population by age groups: Estimates, 1929-70, and projections,
1975-85 221C-22. Noninstitutional population and the labor force, 1929-70 222C-23. Civilian employment and unemployment, by sex and age, 1947-70. . 224C-24. Selected unemployment rates, 1948-70 225C-25. Unemployment by duration, 1947-70 226C-26. Unemployment insurance programs, selected data, 1940-70 227C-27. Wage and salary workers in nonagricultural establishments, 1929-70. 228C-28. Average weekly hours of work in private nonagricultural industries,
1929-70 230C-29. Average gross hourly earnings in private nonagricultural industries
and in agriculture, 1929-70 231C-30. Average gross weekly earnings in private nonagricultural industries,
1929-70 232C-31. Average weekly hours and hourly earnings, gross and excluding over-
time, in manufacturing industries, 1939-70 233C-32. Average weekly earnings, gross and spendable, total private non-
agricultural industries, in current and 1967 prices, 1947-70 234C-33. Average weekly earnings, gross and spendable, in manufacturing
industries, in current and 1967 prices, 1939-70 235C-34. Indexes of output per man-hour and related data, private economy,
1947-70 236
193
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Production and business activity: PageC-35. Industrial production indexes, major industry divisions, 1929—70 237C-36. Industrial production indexes, market groupings, 1947—70 238C-37. Industrial production indexes, selected manufactures, 1947-70 239C-38. Manufacturing output, capacity, and utilization rate, 1948-70 240C-39. Business expenditures for new plant and equipment, 1947-71 241C-40. New construction activity, 1929-70 242C-41. New housing starts and applications for financing, 1929—70 244C—42. Sales and inventories in manufacturing and trade, 1947—70 246C—43. Manufacturers' shipments and inventories, 1947—70 247C—44. Manufacturers' new and unfilled orders, 1947—70 248
Prices:G-45. Consumer price indexes, by major groups, 1929-70 249C-46. Consumer price indexes, by special groups, 1935-70 250C-47. Consumer price indexes, selected commodities and services, 1935-70. . 251C-48. Wholesale price indexes, by major commodity groups, 1929-70 252C-49. Wholesale price indexes, by stage of processing, 1947-70 254C—50. Percentage changes from previous month in indexes for major
groupings of the consumer price index, 1968—70 256C—51. Percentage changes from previous month in indexes for major
groupings of the wholesale price index, 1968-70 257
Money stock, credit, and finance:C-52. Money stock, 1947-70 258C-53. Bank loans and investments, 1930-70 259C—54. Total funds raised in credit markets by nonfinancial sectors, 1962—70.. 260C-55. Selected liquid assets held by the public, 1946-70 262C-56. Federal Reserve Bank credit and member bank reserves, 1929-70 263C-57. Bond yields and interest rates, 1929-70 264C-58. Short- and inter mediate-term consumer credit outstanding, 1929-70. . 266C-59. Instalment credit extended and repaid, 1946-70 267C—60. Mortgage debt outstanding, by type of property and of financing,
1939-70 268C-61. Mortgage debt outstanding, by lender, 1939-70 269C-62. Net public and private debt, 1929-69 270
Government finance:C-63. Federal budget receipts and outlays, 1929-72 271C—64. Federal budget receipts, outlays, financing, and debt, 1961—72 272C-65. Relation of the Federal budget to the Federal sector of the national
income and product accounts, 1969-72 274C—66. Receipts and expenditures of the Federal Government sector of the
national income and product accounts, 1948-72 275C-67. Public debt securities by kind of obligation, 1946-70 276C-68. Estimated ownership of public debt securities, 1939-70 277C—69. Average length and maturity distribution of marketable interest-
bearing public debt, 1946-70 278C-70. Receipts and expenditures of the government sector of the national
income and product accounts, 1929-70 279C-71. Receipts and expenditures of the State and local government sector of
the national income and product accounts, 1946-70 280C—72. State and local government revenues and expenditures, selected fiscal
years, 1927-69 28 1
194
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Corporate profits and finance: Page
C-73. Profits before and after taxes, all private corporations, 1929-70 282C—74. Sales, profits, and stockholders' equity, all manufacturing corpora-
tions (except newspapers), 1947-70 283G-75. Relation of profits after taxes to stockholders' equity and to sales, all
manufacturing corporations (except newspapers), by industry group,1949-70 284
C-76. Sources and uses of funds, nonfarm nonfinancial corporate business,1959-69 286
C-77. Current assets and liabilities of U.S. corporations, 1939-70 287C-78. State and municipal and corporate securities offered, 1934-70 288C-79. Common stock prices, earnings, and yields, and stock market credit,
1939-70 289C-80. Business formation and business failures, 1929-70 290
Agriculture:
C-81. Income of farm people and farmers, 1929-70 291C-82. Farm production indexes, 1929-70 292C-83. Farm population, employment, and productivity, 1929-70 293C-84. Indexes of prices received and prices paid by farmers, and parity ratio,
1929-70 294C-85. Selected measures of farm resources and inputs, 1929-70 296C-86. Comparative balance sheet of the farming sector, 1929-71 297
International statistics:
C-87. U.S. balance of payments, 1946-70 298C-88. U.S. merchandise exports and imports, by commodity groups,
1958-70 : 300C-89. U.S. merchandise exports and imports, by area, 1964-70 301C—90. U.S. overseas loans and grants, by type and area, fiscal years,
1962-70 302C-91. International reserves, 1949, 1953, and 1965-70 303C-92. U.S. reserve assets, 1946-70 304C-93. Price changes in international trade, 1962-70 305C-94. Consumer price indexes in the United States and other major in-
dustrial countries, 1957-70 306
General Notes
Detail in these tables will not necessarily add to totals because of rounding.Unless otherwise noted, all dollar figures are in current prices.
Symbols used:» Preliminary.__ Not available (also, not applicable).
195
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NATIONAL INCOME OR EXPENDITURETABLE CM.—Gross national product or expenditure, 1929-70
(Billions of-dollars]
Year or quarter
1929.....
19301931..1932.193319341935.1936.193719381939
19401941..194219431944...1945..1946194719481949
195019511952 -1953195419551956195719581959
I960...1961196219631964196519B6196719681969
1970"
1968: I
I I I . .IV
1969' LIL .III.IV..
1970: I.I I . .III.
Totalpross
nationalproduct
103.1
90.47*.858.055.665.172.?*7.590.484.790.5
99.7174. R157.9191.6210.1211.920*. 5231.3257.6256.5
284.8378.4345. 5364.6364.839*. 0419.2441.1447.3483.7
503.7520.1560.3590.563?. 4684.9749.97P3.9865.0931.4
976.8
Per-sonalcon-
sump-tion
expend-itures^
834.9858.1875.8891.4
907.6923.7942.6951.7
959.5971.1985.5990.9
77.2
69.960.54R.645.851.355.761.966.563.966.8
70. R80.68R.599.3
10S.3119.7149.41*0.7173.6176.8
191.0206.3216.7230. 0236.5254.4266.7281.4290.1311.2
375. 2335.2355.1375.0401,24*>. 8466.3497.1535.8577.5
616.8
Grossprivate
do-mesticinvest-ment*
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
74.871.783.087.194.0
108.1121.4116.6126.5139.8
135.8
Netexportsof goods
andserv-ices'
1.1
1.0.5.4.4.6.1.1.3
1.31.1
1.71.3.0
- 2 . 0- 1 . 8- . 67.5
11.56.46.1
1.83.72.2.4
1.82.04.05.72.2.1
4.05.65.15.98.56.95.35.22.51.9
3.6
Government purchases of goods and services^
Total
8.5
9.29.28.18.09.8
10.012.011.913.013.3
14.024.859.688.696.582.327.025.131.637.8
37.959.174.781.674.874.278.686.194.297.0
99.6107.6117.1122.5128.7137.0156.8180.1200.2212.2
220.5
Total
1.3
1.41.51.52.03.02.94.94.75.45.1
6.016.951.981.189.074.217.212.516.520.1
18.437.751.857.047.444.145.649.553.653.7
53.557.463.464.265.266.977.890.799.5
101.3
99.7
Federal
Nationaldefense«
1.
1.1.1.
Other
3
455
2.03. 02.94.4.5.
1.2
2.213.849.479.787.473.514.79.1
10.713.3
14.133.645.948.741.238.640.344.245.946.0
44.947.851.650.850.050.160.777.478.078.8
76.6
974
3.9
3.83.12.51.41.6.7
2.53.55.86.8
4.34.15.98.46.25.55.35.37.77.6
8.69.6
11.813.515.216.817.118.421.522.6
23.1
Seasonally adjusted annual rates
519.7529.1543.8550.8
561.8573.3582.1592.6
603.1614.4622.1627.6
119.8127.3126.5132.6
136.0139.3143.8140.2
133.2134.3138.3137.5
1.83.43.41.4
1.31.32.62.6
3.54.14.22.7
193.6198.3202.1206.7
208.5209.9214.1216.3
219.6218.4221.0223.2
96.498.9
100.7101.9
100.999.8
102.5102.1
102.399.798.698.4
76.377.878.679.2
78.677.979.878.8
79.376.875.874.6
20.121.122.122.7
22.421.922.723.3
23.022.922.923.8
Stateandlocal
7.2
7.87.76.66.06.87.17.07.27.68.2
8.07.97.77.47.58.19.8
12.615.017.7
19.521.522.924.627.430.133.036.640.643.3
46.150.253.758.263.570.179.089.4
100.7110.8
120.8
97.299.4
101.4104.7
107.5110.1111.6114.2
117.4118.7122.4124.8
'See Table C-10 for detailed components.'See Table C-ll for detailed components.»See Table C-6 for exports and imports separately.< Net of Government sales.• This category corresponds closely to the national defense classification in the "Budget of the United States Govern-
ment for the-f iscal Year ending June 30,1972."
Source: Department of Commerce, Office of Business Economics.
197Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-2.—Gross national product or expenditure, in 1958pricesy 1929-70
[Billions of dollars, 1958 prices]
Year orquarter
1929..
1930..1931..1932._1933..1934..1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944.1945..1946..1947..1948.1949.
19501951195219531954195519561957..19581959
I960....1961196219631964....1965....1966....1967...1968 ...1969
1970 v
1968: I . —II...III..IV...
1969: I...II..III..IV..
1970: I...II..III.IV P.
otaljrossna-ionalrod-uct
!03.6
83.5.69.3.44.241.554.369.5.93.0!03.292.9109.4
227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1
355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9
487.7497.2529.8551.0581.1617.8658.1675.2707.2727.1
724.3
Personal consumptioexpenditures
Total
139.6
130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2
155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5
230.5232.8239.4250.8255.7274.2281.4288.2290.1307.3
316.1322.5338.4353.3373.7397.7418.1430.1452.3467.7
477.2
Dura-ble
goods
16.3
12.911.28.48.39.4
11.714.515.112.214.5
16.719.111.710.29.4
10.620.524.726.328.4
34.731.530.835.335.443.241.041.537.943.7
44.943.949.253.759.066.671.772.981.484.9
82.1
Non-dura-
LI
Diegoods
69.3
65.965.660.458.662.565.973.476.077.181.2
84.689.991.393.797.3
104.7110.8108.3108.7110.5
114.0116.5120.8124.4125.5131.7136.2138. V140.2146.8
149.6153.0158.2162.2170.3178.6187.0190.2196.5201.2
207.9
Serv-ices
54.0
51.549.445.946.046.147.950.552.050.952.5
54.456.358.561.864.767.772.173.475.877.6
81.884.887.891.194.899.3
104.1108.0112.0116.8
121.6125.6131.1137.4144.4152.5159.4167.0174.4181.6
187.3
Total
40.4
27.416.84.75.39.4
18.024.029.917.024.7
33.041.621.412.714.019.652.351.560.448.0
69.370.060.561.259.475.474.368.860.973.6
72.469.079.482.587.899.2
109.3101.2105.7111.3
103.0
Gross private domestic investment
Fixed investment
Total
36.9
28.019.210.99.7
12.115.620.924.519.423.5
28.132.017.312.915.922.642.351.755.951.9
61.059.057.260.261.469.069.567.662.468.8
68.967.073.476.781.990.195.493.598.8
104.1
99.9
Nonresidential
Total
26.5
21.714.18.27.69.2
11.515.818.813.715.3
18.922.212.510.013.419.830.236.238.034.5
37.539.638.340.739.643.947.347.441.644.1
47.145.549.751.957.866.374.173.275.580.8
79.3
Struc-tures
13.9
11.87.54.43.33.64.05.47.15.65.9
6.88.14.62.93.85.7
12.511.612.311.9
12.714.113.714.915.216.218.518.216.616.2
17.417.417.917.919.122.324.022.622.724.0
23.1
Pro-ducers'durableequip-ment
12.6
9.96.63.84.35.67.5
10.311.88.19.4
12.114.27.97.29.6
14.117.724.625.722.6
24.825.524.625.824. c
27.728.829.125.027.9
29.628.131.734.038.744.050.150.652.756.9
56.2
Resi-dentialstruc-tures
10.4
6.35.12.72.12.94.05.15.65.78.2
9.29.84.92.92.52.8
12.115.417.917.4
23.519.518.919.621.725.122.220.220.824.7
21.921.623.824.824.223.821.320.423.323.3
20.6
Changein busi-
ness-inven-tories
3.5
- . 6- 2 . 4- 6 . 2- 4 . 3- 2 . 7
2.43.15.5
- 2 . 41.2
4.99.64.0
- L 9- 2 . 910.0- . 24.6
- 3 . 9
8.310.93.3
.9- 2 . 0
6.44.81.2
- 1 . 54.8
3.52.06.05.85.89.0
13.97.76.97.2
3.1
Seasonally adjusted annual rates
693.5705.4712.6717.5
722.1726.1730.9729.2
723.8724.9727.4721.3
445.0448.4457.7458.1
463.3467.1468.7471.7
474.0478.1479.6477.1
78.180.283.983.2
84.985.784.184.9
82.784.983.677.1
195.5194.9197.9197.6
199.7200.9201.9202.4
205.6206.6208.2211.2
171.3 '173.2175.9177.4
178.7180.5182.7184.4
185.8186.6187.8188.8
101.3107.1105.1109.5
109.7111.5114.1110.0
102.9103.1104.1101.8
98.997.697.7
101.0
103.6104.8104.2103.9
101.5100.199.698.3
76.173.874.977.1
79.380.281.982.1
80.980.279.676.6
23.422.322.322.9
23.823.124.624.3
24.423.522.621.8
52.751.552.654.3
55.457.057.357.8
56.556.756.954.8
22.923.822.823.9
24.324.722.321.8
20.720.020.021.7
2.49.57.48.5
6.16.69.96.1
1.32.94.63.5
See footnotes at end of table.
198
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TABLE C-2.—Gross national product or expenditure, in 1958 prices, 1929-70—Continued
[Billions of dollars, 1958 prices]
Year or quarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953 .195419551956195719581959
1960196119621963196419651966196719681969.
1970 i>
1968: 1IIMlIV
1969: 1IIIIIIV
1970: 1IIIIIIV v
Net exports of goods and services
Netexports
1.5
1 4.9.6.0.3
- 1 . 0-1 .2- . 71 91.3
2 14
- 2 . 1-5 .9- 5 8-3 .8
8.412 36 16.4
2.75 33 01.13.03.25 06.22.2
4.35.14.55.68.36.24.23.6.9.2
2.3
Exports
11.8
10 48.97.17.17.37.78.29.89 9
10.0
11 011.27.86.87 6
10.219.622 618.118.1
16.319 318.217.818.820.924.226.223.123.8
27.328.030.032.136.537.440.242.145.748.5
52.2
Imports
10.3
9 07.96.67.17.18.79.3
10.58.08.7
8.910.89.9
12.613.413.911.210.312.011.7
13.614.115.216.715.817.719.119.920.923.5
23.022.925.526.628.231.236.138.544.848.2
49.9
Government purchases of goods andservices l
Total
22.0
24.325.424.223.326.627.031.830.833.935.2
36.456.3
117.1164.4181.7156.448.439.946.353.3
52.875.492.199.888.985.285.389.394.294.7
94.9100.5107.5109.6111.2114.7126.5140.2148.3147.8
141.8
Federal
3.5
4.04.34.66.08.07.9
12.211.513.312.5
15.036.298.9
147.8165.4139.730.119.123.727.6
25.347.463.870.056.850.749.751.753.652.5
51.454.660.059.558.157.965.474.778.775.7
67.7
State andlocal
18.5
20 221.119.617.318.619.219.619.420.622.7
21.420.118.316.616.316.718.420.822.725.7
27.527.928.429.732.134.435.637.640.642.2
43.545.947.550.153.256.861.165.569.672.1
74.1
Seasonally adjusted annual rates
0.81.51.5
- . 2
- . 4- . 3
.8
.9
1.92.43.11.9
43.845.447.845.6
42.350.750.850.0
52.052.952.051.8
43.143.946.345.8
42.651.150.049.1
50.150.548.950.0
146.4148.5148.3150.0
149.5147.9147.3146.6
145.0141.3140.6140.5
77.579.178.979.4
78.075.875.273.8
71.167.866.265.8
68.969.469.470.6
71.572.172.172.9
73.873.574.474.7
i Net of Government sales.Source: Department of Commerce, Office of Business Economics.
199
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TABLE C-3.—Implicit price deflators for gross national product, 1929-70
[Index numbers, 1958=1001
Year or quarter
1929
1930193119321933193419351936193719381939
1940 .19411942194319441945 . . . .1946194719481949
19501951195219531954 . . . . . .1955195619571958 . . . .1959
196019611962196*196419651966196719681969
1970*
1968: 1IIIII . . .IV
1969: 1ifIIIIV
1970: 1IIIIIIV v
Totalgross
national
ucti
50.64
49.2644.7840.2539.2942.1642.6242.7344.5043.8843.23
43.8747.2253.0356.8358.1659.6666.7074.6479.5779.12
80.1685.6487.4588.3389.6390.8693.9997.4999.97
101.66
103.29104.62105.78107.17108.85110.86113.95117.59122.31128.11
134.86
Personal consumDtion
Total
55.3
53.647.942.340.643.544.444.746.545.645.1
45.548.754.859.963.265.470 577 982.381.7
82.988.690 591.792.592.894.897.7
100.0101.3
102.9103.9104.9106.1107.4108.8111.5114.4118.5123.5
129.2
expenditures
Dur-able
goods
56.4
55.349.143.241.944.743.743.645.846.746.0
46.550.459.364.271.575.976 882 786.386.8
87.894.295 494 392.991.994.998.4
100.0101.4
100.9100.6100.8100.4100.499 698.7
100.3103.3106.0
109.0
Non-durablegoods
54.5
51.644.137.738.042.744.544.846.444.043.2
43.847.755.662.566.268.774.383.688.585.6
86.093.394 393.994.293.694.997.7
100.099.9
101.2101.9102.8104.0104.9106.9110.7113.0117.1122.2
127.3
Serv-ices
56.1
55.752.748.343.644.344.445.046.847.747.7
47.949.852.755.357.558.762.767.972.174.3
76.380.083.687.790.092.094.697.3
100.0103.0
105.8107.6109.0110.9113.1115.1118.3122.2127.1133.1
140.3
Gross private domestic investmentl
Total
39.4
37.935.231.630.633.734.334.637.838.237.7
39.042.046.549.351.151.558.566.773.974.7
77.583.185.386.686.889.094.098.5
100.0102.6
103.4103.9104.9106.0107.6109.3111.8115.9120.4126.2
132.4
Fixed investment
Nonresidential
Total
39.9
38.135.832.931.634.935.935.638.839.338.7
40.042.747.849.951.051.056 364.570.772.8
74.480.482.684.084.886.792.497.9
100.0102.2
102.9103.4104.1104.5105.7107.5110.2113.8117.5122.8
129.4
Struc-tures
35.7
34.031.127.627.928.930.630.234.433.933.1
33.936.441.346.848.649.254.464.471.571.2
72.979.383.284.986.088.193.498.6
100.0102.7
104.0105.6107.1108.9111.1114.7118.9124.0130.3141.1
152.2
Pro-ducers'durableequip-ment
44.6
43.041.139.134.538.838.738.541.443.042.2
43.446.351.551.151.951.757.564.670.373.6
75.280.982.283.584.085.991.897.5
100.0102.0
102.2102.1102.3102.3103.0103.9106.0109.3111.9115.1
120.0
Resi-dentialstruc-tures
38.1
37.133.627.327.130.129.831.334.335.535.7
36.940.343.347.051.654.959.771.780.878.5
82.588.690.891.990.492.997.499.8
100.0103.1
104.5105.0106.7108.9112.3114.2117.4123.1129.7137.7
144.0
Seasonally adjusted
120.39121.65122.90124.25
125.68127.22128.97130.52
132.57133.98135.50137.39
116.8118.0118.8120.2
121.3122.8124.2125.6
127.2128.5129.7131.5
102.3102.9103.4104.6
105.0105.7106.4107.0
107.8108.2109.2110.8
115.4116.8117.5118.8
119.8121.5122.9124.5
125.9127.1127.7128.6
125.0126.4127.6129.1
130.6132.3133.8135.5
137.3139.3141.1143.3
118.4119.9121.1122.1
124.2125.4127.1128.0
129.6131.0133.3135.6
116.1117.0117.9118.8
120.7121.6123.9125.1
126.8128.2130.2132.4
127.5129.6131.7132.6
136.8139.5143.3144.7
146.4150.0154.8158.5
111.1111.6112.1113.0
113.7114.4115.6116.8
118.4119.2120.4122.0
126.0128.6131.5132.5
135.5137.4138.9139.3
140.6142.4145.7147.1
See footnotes at end of table.
200
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-3.—Implicit price deflators for gross national product, 1929—70—Continued
[Index numbers, 1958=100]
Year or quarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
19501951195219531954 . . .19551956195719581959
1960196119621963196419651966196719681969
1970i»
1968: 1IIIII. .IV
1969: 1IIIllIV
1970: 1IIIllIV*
Exports and imports ofgoods and services1
Exports
59.5
52.341.034.733.740.642.343.446.543.844.1
48.653.061.565.269.971.375.487.392.787.0
84.997.098.895.294.394.997.5
101.3100.098.8
99.9101.9100.8100.6101.5104.7107.7109.7110.9114.6
119.5
Imports
57.3
49.039.331.528.833.636.036.740.737.938.6
40.843.048.351.253.256.464.979.486.482.2
88.7107.2103.699.1
100.8100.6102.5104.0100.099.3
101.0100.198.599.5
101.5103.4105.6106.5107.5111.1
117.7
Government purchases of goodsand services
Total
38.6
37.936.333.434.536.837.037.638.438.337.9
38.544.050.953.953.152.655.862.968.171.0
71.878.581.081.884.187.192.196.4
100.0102.4
105.0107.1109.0111.8115.7119.4124.0128.5135.0143.5
155.5
Federal
36.0
34.134.531.933.137.437.040.540.740.540.8
40.246.652.554.953.853.157.365.669.873.0
72.979.481.281.483.586.991.795.8
100.0102.2
104.?105,2105.6108.0112.2115.5118.8121.5126.4133.9
147.3
State andlocal
39.1
38.736.633.835.036.637.035.937.136.836.3
37.339.242.344.646.148.653.260.466.468.9
70.876.980.682.885.387.592.797.3
100.0102.6
105.9109.4113.2116.3119.5123.5129.4136.4144.7153.7
163.1
Gross national product bysector
Private *
51.73
50.4545.6740.9139.9243.0143.5143.4545.3344.6543.93
44.6948.6655. 5160.8562.0262.5968.2576.2781.4080.60
81.4187.3588.9989.6590.7791.5794.5397 9299.97
101.41
102 76103.73104.73105 80107 05108 83111.56114.79118.92124.22
130.12
Generalgovernment
34.1
34.134.533.733.534.834.736.536.537.436.8
36.034.737.339.743.348.355.458.560.864.7
67.170.574.476.679.584.088.793.3
100.0104.2
108.6113.6116.6121.5128.4133.5140.3147.7159.1170.8
186.6
Seasonally adjusted
108.9111.8111.2111.5
113.0112.7114.6117.7
117.5118.8120.8120.8
106.6107.8107.5108.1
109.0109.5111.2114.5
114.9116.2119.9119.9
132.2133.5136.3137.8
139.5141.9145.4147.5
151.5154.6157.2158.9
124.4125.0127.6128.4
129.5131.7136.3138.4
143.8147.0149.1149.5
141.1143.3146.1148.3
150.4152.6154.9156.7
158.9161.5164.5167.2
117.22118.38119.37120.66
122.08123.55124.90126.32
127.96129.24130.73132. 55
154.5157.1161.1163.6
165.4167.6173.6176.5
182.9185.9187.9189.9
» Separate deflators are not available for total gross private domestic investment, change in business inventories, andnet exports of goods and services.
> Gross national product less compensation of general government employees. See also Tables C-7 and C-8.
Source: Department of Commerce, Office of Business Economics.
2 0 1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-4.—Gross national product by major type of product, 1929-70
{Billions of dollars]
Year orquarter
1970 p . . . .
1968: I . . .I I -III.I V . .
1969: I . . .I I -III.IV
1970: III...III..IV P.
Totalgrossna-
tionalprod-uct
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.9865.0931.4
976.8
Finalsales
101.4
90.777.060.557.265.871.281.287.985.690.1
97.5120.1156.2192.2211.1213.0202.1231.8252.9259.6
278.0318.1342.4364.1366.4392.0414.5439.8448.8478.9
500.2518.1554.3584.6626.6675.3735.1785.7857.4922.9
973.2
1.7
- . 4- 1 . 1- 2 . 5- 1 . 6
i l l1.32.5
- . 9.4
2.24.51.8
- . 6- 1 . 0- 1 . 0
6.4- . 54.7
- 3 . 1
6.810.33.1
6'.04.71.3
- 1 . 54.8
3.62.06.05.95.89.6
14.88.27.68.5
3.6
Goods output
Total
Total
56.1
46.937.426.727.034.439.945.851.545.349.0
56.072.593.6
120.4132.3128.9124.9139.7154.2147.5
162.4189.7195.6204.1197.1216.4225.4234.6230.8249.1
259.6262.3284. r298.6319.4347.2383.3398.9430.6460.0
474.1
Finalsales
54.3
47.338.629.228.635.138.844.548.946.248.6
53.68.091.9
121.0133.3129.9118.5140.1149.4150.5
155.6179.4192.5203.7198.6210.4220.7233.3232.3244.4
256.0260.2278.5292.7313.6337.6368.5390.7422.9451.6
470.5
1.7
- . 4- 1 . 1- 2 . 5- 1 . 6- . 71.11.32.5
- . 9.4
2.24.51.8
- . 6-1 .0-1.0
6.4
A. 7-3.1
6.810.33.1.4
- 1 . 56.04.71.3
- 1 . 54.8
3.62.06.05.95.89.6
14.88.27.68.5
3.6
Durable goods
Total
17.5
11.47.73.64.97.49.3
12.213.99.9
12.7
16.626..35.554.257.948.936.946.048.747.8
60.473.774.679.472.185.790.394.483.695.6
99.596.5
109.0116.1127.0139.6156.71.61.1176.1190.2
185.0
Finalsales
16.1
12.59.05.75.47.38.9
11.213.110.812.4
15.423.834.554.258.550.231.644.348.049.9
56.366.873.578.574.682.787.593.186.493.2
97.496.6
106.2113.3122.8133.0146.2156.5170.4183.9
185.3
III
1.4
"I'.3.9.8
- . 9.3
1.23.01.0.0
- . 6- 1 .3
5.31.7
-2 .1
4.16.91.1.9
- 2 . 53.02.81.3
- 2 . 82.3
2.1- . 12.82.84.26.7
10.54.75.76.4
- . 4
Nondurable goods
Total
38.5
35.529.723.122.127.030.633.637.635.436.3
39.345.658.166.274.480.088.093.7
105.599.7
102.0116.0121.0124.8125.0130.7135.1140.2147.2153.6
160.1165.8175.5182.5192.4207.6226.6237.7254.5269.8
289.1
Finalsales
38.2
34.829.623.623.227.829.933.335.835.436.2
38.444.257.466.874.879.786.995.9
101.5100.6
99.3112.6119.1125.2124.1127.7133.2140.2145.9151.1
158.6163.7172.2179.4190.7204.7222.3234.2252.5267.7
285.2
S
0.3
.7
.1- . 4-1.1- . 9
.7
\.S.0.1
1.01.4.7
- . 6- . 3
l!i-2 .2
4.0-1 .0
2.73.42.0
l'.O2.91.9.0
1.32.4
2.13.23.11.63.04.33.52.02.1
4.0
Serv-ices
35.1
34.231.727.525.727.128.331.032.333.234.0
35.440.350.362.571.876.568.070.275.780.8
87.0101.2110.8118.8123.5132.6142.3154.2163.4176.2
187.3199.5213.3226.2244.2262.9289.316.5347.1377.6
410.3
Struc-tures
11.4
9.26.73.82.93.4.05.66.76.27
8.311.814.08.76.16.5
15.621.427.728.3
35.437.539.141.744.249.051.552.353,158.3
56.858.362.665.768.874.877.578.687.493.8
92.4
Grossautoprod-uct
Seasonally adjusted annual rates
834.9858.1875.8891.4
907.6923.7942.6951.7
959.5971.1985.5990.9
832.3847.8867.6882.1
900.2915.9931.2944.5
957.9968.1980.0986.8
2.610.48.29.3
7.47.9
11.37.2
1.63.15.54.1
414.2428.2437.2442.6
448.3456.7466.2468.9
467.1474.9479.8474.5
411.6417.8429.0433.3
440.9448.8454.9461.7
465.5471.8474.2470.4
2.610.48.29.3
7.47.9
11.37.2
1.63.15.54.1
167.7175.1178.9182.6
186.1189.4192.7192.7
185.3186.6193.5174.5
165.2168.0173.1175.3
180.5182.7184.8187.4
185.5188.5188.3179.0
2.57.15.87.2
5.66.77.95.3
- . 3- 1 . 9
5.2- 4 . 5
246.5253.0258.3260.0
262.1267.3273.5276.2
281.8288.3286.3300.0
246.4249.8255.9258.0
260.4266.1270.1274.3
280.0283.3286.0291.4
0.13.22.42.1
1.81.23.51.9
1.95.0.3
8.6
334.7343.1352.2358.4
364.8372.3383.0390.3
400.1405.8413.2422.2
86.086.886.390.5
94.594.893.392.5
92.390.492.694.2
7.28.8
11.9
15.413.512.016.314.621.216.919.514.519.1
21.417.922.525.125.831.830.028.936.136.6
31.0
34.236.636.537.2
38.234.837.635.8
31.135.434.722.7
Source: Department of Commerce, Office of Business Economics.
2O2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-5.—Gross national product by major type of product, in 1958 prices, 1929-70
(Billions of dollars, 1958 prices)
Year orquarter
1929
19301931193219331934193519361937. . . .1938. . . .1939. . . .
1940. . . .1941 . . . .1942194319441945. . . .1946194719481949....
1950....1951....1952....1953....19541955....1956....1957....1958....1959....
1960196119621963196419651966196719681969
1970 v
Totalgross
na-tionalprod-
uct
203.6
183.5169 3144.2141.5154.3169.5193.0203.2192.9209.4
227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1
355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9
487.7497.2529.8551.0581.1617.8658.1675.2707.2727.1
724.3
Finalsales
200. 1
184.1171.7150.5145.9157.0167.1189.9197.8195.3208.2
222.3254.1293.8337.3363.2358.2302.6310.1319.1328.1
347.0372.5391.8411.8409.0431.6441.2451.2448.8471.1
484.2495.2523.8545.2575.2608.8644.2667.5700.3719.9
721.2
Is
3.5
- . 6-2 .4-6 .2- 4 . 3-2 .7
2.43.15.5
-2 .41.2
4.99.64.0
- . 2-1 .9-2 .910.0- . 24.6
-3.9
8.310.93.3.9
-2 .06.44.81.2
-1 .54.8
3.52.06.05.85.89.0
13.97.76.97.2
3.1
Goods output
Total
103.9
90.583.268.768.877.988.6
102.2110.2100.5110.7
124.0143.4158.1187.4204.8198.0172.1172.2178.4174.2
192.6208.4214.0225.4215.1236.1239.0239.8230.8247.7
756.0257.3277.3289.7308.6330.7356.8363.1380.7392.2
388.5
Total
Finalsales
100.4
91.185.774.973.280.586.299.1
104.8102.9109.5
119.0133.8154.1187.6206.7201.0162.1172.4173.8178.1
184.3197.5210.7224.5217.1229.7234.2238.5232.3242.9
252.6255.3271.3283.9302.8321.7347.9355.4373.8385.0
385.4
| |
3.5
- . 6-2 .4-6 .2- 4 . 3-2 .7
2.43.15.5
- 2 . 41.2
4.99 64.0
- . 2- 1 . 9- 2 . 910.0- . 24.6
- 3 . 9
8.310.93.3.9
- 2 . 06.44.81.2
- 1 . 54.8
3.52.06.05.85.89.0
13.97.76.97.2
3.1
Durable goods
Total
33.6
22.416.38.3
11.716.921.528.731.021.127.6
35.650.057.285.695.984.354.760.161.358.0
73.484.184.691.081.996.596.596.283.694.0
97.894.9
107.0114.2174.6136.5151.8152.2162.1170.1
160.2
Finalsales
30.9
24.519.213.413.416.720.626.329.123.427.0
32.843.554.485.297.487.446.158.660.061.0
68.376.183.289.984.893.093.595.086.491.6
95.994.9
104.1111.4120.4130.1141.9148.0157.1164.7
160.5
| l
2.7
- 2 . 1- 3 . 0— S 1
- 1 . 7.2.9
2.41.9
- 2 . 3.6
2.76.62.9
.4- 1 . 5- 3 . 1
8.61.51.2
- 3 . 0
5.28.01.51.2
- 3 . 03.43.01.2
- 2 . 82.4
2.0.0
2.82.84.16.59.84.35.15.3
- . 4
Nondi
Total
70.4
68.067.060.457.161.067.173.579.279.483.0
88.493.4
100.9101.7108.8113.7117.4112.2117.1116.2
119.1124.3129.4134.4133.2139.7142.5143.6147.2153.7
158.2162.3170.3175.6184.1194.2205.12^.9218.6222.1
228.4
jrable g
Finalsales
69.5
66.566 561.559.863.865.672.875.779.582.5
86.290.399.7
102.4109.3113.6116.0113.8113.8117.1
116.0121.4127.6134.6132.3136.7140.7143.6145.9151.2
156.7160.3167.2172.5182.3191.6701.0207.4216.7220.3
224.9
I!0.8
1.5.5
-1.1-2.7-2.8
1.5.7
3.6- . 1
.6
2.23.11.2
- . 6- . 4
.21.4
-1.73.3
- . 9
3.12.91.8
- . 2.9
3.01.8.0
1.32.5
1.52.03.13.11.72.64.13.51.81.8
3.5
Serv-ices
69.3
67.765.861.963.065.368.173.373.974.876.9
80.089.8
107.7131.8144.0144.3113.3106.5109.3112.4
117.5130.5136.3140.3141.8147.5153.0160.1163.4171.2
176.6184.0193.7200.9210.8221.9236.3249.1760.0268.2
274.5
Struc-tures
30.3
25.320.213.79.8
11.112.817.519.117.721.8
23.230.531.917.912.412.927.231.23R 137.5
45.244.444.747.050.254.354.052.653.157.0
55.055.858.860.461.665.265.063.066.666.6
61.3
Grossautoprod-
uct
Seasonally adjusted annual rates
10.311.414.8
19.115.913.518.717.124.618.620.214.518.5
21.017.522.024.725.531.830.629.035.335.0
28.7
1 9 6 8 : 1 . . . .ll_._I I I . .IV.. .
1 9 6 9 : 1 . . . .I I . . .I I I . .IV. . .
1 9 7 0 : 1 . . . .I I . . .I I I . .IV r .
693.5705.4712.6717.5
722.1726.1730.9729.2
723.8724.9727.4721.3
691.1695.9705.2709.0
716.1719.4720.9723.0
722.4721.9722.8717.8
2.49.57.48.5
6.16.69.96.1
1.32.94.63.5
370.5379.8385.6387.0
388.5391.1395.7393.5
387.3391.1392.1383.6
368.2370.3378.2378.5
382.4384.5385.8387.4
3«6.0388.2387.5380.1
2.49.57.48.5
6.16.69.96.1
1.32.94.63.5
156.0161.8164.1166.7
168.4170.0171.6170.3
162.3162.9167.1148.5
153.7155.4159.4159.8
163.6164.5164.9165.9
162.6164.4162.7152.5
2.36.54.76.9
4.85.56.74.4
- . 3- 1 . 5
4.3- 4 . 0
214. c
217.9221. *220.4
220.1221.1?24.1223.3
225.1228.3225.0235.2
214.5214.92^.8218.7
218.8220.0220.9221.5
223.4223.8224.7227.6
0.03.02.71.6
1.31.13.21.8
1.64.5.2
7.5
255.8258.9262.1263.1
264.7267.2269.8271.3
273.1272.8274.8277.2
67.166.764.967.4
68.967.865.464.4
63.460.960.560.5
33.635.935.735.9
36.933.335.833.9
29.233.232.120.3
Source: Department of Commerce, Office of Business Economics.
203
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-6.—Gross national product: Receipts and expenditures by major economic groups,1929-70
[Billions of dollars]
Year orquarter
1929
1930193119321933...193419351936193719381939
1940194119421943... .1944194519461947.19481949
19501951.19521953195419551956195719581959
I960196119621963196419651966196719681969
1970*.
1968: I . . . .I I - . .litIV
1969: L . . .I I . . . .III.. .IV. . .
1970: L . . .I I . . . .III . . .IV»_.
Persons
Disposable personalincome
Total»
83.3
74.564 048.745.552.458.566.371.265.570.3
75.792 7
116.9133.5146.3150 2160.0169.8189.1188 6
206 9226 6238.3252 6257.4275 3293 2308 5318 8337.3
350.0364 4385.3404.6438 1473.2511.9546.3591.2631.6
684.7
Less:Inter-
est
andtrans-
ferpay-
mentsto for-eigners
1 9
1.297
.7
.67
.8
.9
.89
1.01 l.8.8.8
1 01.41.82.22 4
2 93 13.54 34.65 15 96 46 57.1
7.88 18.69.7
10 712.013.013.915.016.5
17.9
Equals:Total
exclud-ing in-terestand
trans-fers
81 4
73.363 148 044.951.757 865 570.364.669 4
74.791 6
116.1132.7145.5149 3158.6168.0186.9186 2
204 1223 5234.8248 3252.9270 2287 2302 2312 3330.3
342.3356 3376.6394.9427 4461.3498.9532.4576.2615.1
666.8
Per-sonalcon-
sump-tionex-
pendi-tures
77 2
69.960 548 645.851 355 761 966.563.966 8
70.880 688 599.3
108.3119 7143 4160.7173.6176 8
191 0206 3216.7230 0236 5254 4266 7281 4290 1311.2
325.2335 2355.1375.0401 2432.8466 3492.1535.8577.5
616.8
Per-sonalsaving
dis-saving
4 2
3 42 6
— 6_ 9
42 13 63 8.7
2 6
3.811 027 633 437.329 615 27 3
13.49 4
13 117 318 118 316 415 820 620 722 319.1
17.021 221 619.926 228 432 540.440.437.6
50.0
Government
Net receipts
Taxandnon-taxre-
ceiptsor ac-cruals
11 3
10 89 58 99 3
10 511 412 915 415 015 4
17 725 032 649 251.253 250 956 858.956 0
68 784 889 894 389 7
100 4109 0115 6114 7128.9
139.8144 6157.0168.8174 1189.1213.3228.9263.3298.7
303.4
Less:Trans-fers,inter-
est,andsub-
sidies 3
1 8
1 93 12 62 73 13 44 13 23 84 2
4 44 04 44 76.5
10 418 517 318.821 3
22 919 919 019 521 923 425 528 733 034.0
36.541 342.844.446 749.955.562.870.577.9
92.4
Equals:Netre-
ceipts
9 5
8 96 36 36 77 48 08 8
12 211.211 2
13.321 028 244 444.742 832 439.540.134 7
45 864 970.874 867.876 983 586 881.695.0
103.3103 3114.2124.3127 3139.2157.9166.2192.8220.8
211.0
Expenditures
Totalex-
pendi-tures
10 3
11 112 410 610 712.913 416 115 016.817 6
18.428 864 093.3
103.092 745 542.450.359 1
60 879 093.7
101 296.797 6
104.1114 9127.2131.0
136.1149.0159.9166.9175 4186.9212.3242.9270.7290.1
313.0
Less:Trans-fers,inter-est,and
sub-sidies 3
1 8
1 93 12 62 73.13 44 13 23 84 2
4.44 04 44.76.5
10 418 517.318.821 3
22 919 919.019 521.923 425.528 733.034.0
36.541.342.844.446.749.955.562.870.577.9
92.4
Equals:Pur-
chasesof
goodsand
serv-ices
8 5
9 29 28 18 09 8
10 012 011 913 013 3
14.024 859 688.696.582 327.025.131.637 8
37 959.174.781.674.874 278.686 194.297.0
99.6107.6117.1122.5128.7137.0156.8180.1200.2212.2
220.5
Sur-plusor
deficit(-),na-
tionalin-
comeand
prod-uct ac-counts
1 0
_ 32 9
—1 8—1 4- 2 4—2 0—3 1
3—1 8—2 2
— 7—3 8
—31 4-44 1-51.8—39 5
5 414.48.5
—3 2
7 85.8
- 3 . 8- 6 9- 7 . 0
2 74.9
7-12.5- 2 . 1
3.7- 4 . 3- 2 . 9
1.8—1.4
2.21.1
-13.9- 7 . 3
8.7
-9 .6
Seasonally adjusted annual rates
574.9588.4595.6606.0612.0623.0640.6650.6665.3683.6693.0696.9
14.414.815.315.616.016.416.716.917.317.818.218.5
560.5573.6580.3590.4596.0606.6623.9633.7648.0665.8674.8678.4
519.7529.1543.8550.8561.8573.3582.1592.6603.1614.4622.1627.6
40.844.636.539.634.333.342.041.144.851.552.750.9
249.7257.0269.4277.2291.2299.2300.4304.1300.2303.6304.2
66.970.071.873.575.177.478.380.881.896.194.397.4
182.8187.0197.6203.7216.1221.8222.1223.3218.4207.4209.9
260.5268.2273.9280.1283.5287.4292.3297.0301.5314.5315.3320.6
66.970.071.873.575.177.478.380.881.896.194.397.4
193.6198.3202.1206.7208.5209.9214.1216.3219.6218.4221.0223.2
-10.7-11.2- 4 . 5- 2 . 9
7.711.88.07.1
-1 .2-10.9-11.2
See footnotes at end of table.204
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-6.—Gross national product: Receipts and expenditures by major economic groups,1929- 70—Continued
[Billions of dollars]
Yearor
quarter
1929..
1930..193L.1932..1933..1934..1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..
I960..1961..1962..1963..19fi4_.1965..1966..1967.1968.1969.
1 9 7 0 P .
1 9 6 8 : I . . .I I . .I I I .I V . .
1 9 6 9 : I . .I I . .H I .I V . .
1 9 7 0 : I . . .
III.
Business
Grossre-
tainedearn-ings 3
11.2
8.65.33.23.25.26.46.77.78.08.4
10.511.414.516.317.115.114.520.228.029.7
29.433.135.136.139.246.347.349.849.456.8
56.858.766.368.876.284.791.393.095.697.3
98.6
Grosspri-vate
domes-tic
invest-ment*
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
74.871.783.087.194.0
108.1
116.6126.5139.8
135.8
Excessof in-vest-ment
- 5 . 1
- 1 . 6- . 32.21.81.9.0
- 1 . 8- 4 . 0
1.6- . 9
- 2 . 7- 6 . 5
4.610.610.04.6
- 1 6 . 1- 1 3 . 8- 1 8 . 0- 6 . 0
- 2 4 . 7- 2 6 . 2- 1 6 . 8- 1 6 . 5- 1 2 . 5- 2 1 . 1- 2 2 . 8- 1 8 . 1- 1 1 . 5- 1 8 . 5
- 1 8 . 0- 1 3 . 0- 1 6 . 8- 1 8 . 4- 1 7 . 8—2"? 4- 3 0 . 1- 2 3 . 5- 3 1 . 0- 4 2 . 5
- 37 .2
International
Trans-fers to
for-eignersby per-
sonsandGov-ern-ment
0.4
.3
.3
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.3
.82.92.64.55.6
4.03.52.52.52.32.52.42.32.42.42.42.62.72.82.82.82.83.02.82.8
Net exports of goodsand services
Ex-ports
7.05.43.62.52.43.03.33.54.64.34.45.45.94.84.45.37.2
14.719.716.815.813.818.718.016.917.819.823.626.523.123.527.228.630.332.337.139.243.446.250.655.5
2.9 62.3
Less:Im-ports
5.94.43.12.12.02.43.13.44.33.03.43.64.64.86.57.17.97.28.2
10.39.6
12.015.115.816.615.917.819.620.820.923.323.223.025.126.428.632.338.141.048.153.6
58.7
Equals:Netex-
ports
1.11.0
.5
.4
.4
.6
.1
.1
l!31.11.71.3
.0-2 .0-1 .8
- . 67.5
11.56.46.11.83.72.2
.41.82.04.05.72.2
.14.05.65.15.98.56.95.35.22.51.9
3.6
Excessof
trans-fersor
of netex-
ports()
-0.8- . 7- . 2- . 2- . 2- . 4
.1
.1- . 1
- 1 . 1- . 9
- 1 . 5- 1 . 1
.22.22.11.4
- 4 . 6- 8 . 9- 1 . 9
- . 5
2.2- . 2
.32.1
.5
.5- 1 . 5- 3 . 4
.22.3
- 1 . 7- 3 . 0- 2 . 5- 3 . 1- 5 . 7- 4 . 1- 2 . 4- 2 . 2
.3
.9
Totalincomeor re-ceipts
102.4
91.275.157.755.064.572.581.390.584.189.2
98.7124.1159.0193.6207.6208.0208.4230.4259.5256.2
283.3325.1343.3361.6362.1395.9420.4441.1445.8484.5
504.8520.8559.8590.8633.7688.0750.9794.6867.4936.1
- . 7 979.3
Statis-ticaldis-crep-ancy
0.7- . 8
.7
.3
.6
.5- . 21.2.0.6
1.3
1.0
- l ! l- 2 . 0
2.53.9
.1
.9- 2 . 0
1.53.32.23.02.72.1
- 1 . 1.0
1.6- . 8
- 1 . 0- . 8
.5- . 3
- 1 . 3- 3 . 1- 1 . 0
- . 7- 2 . 4- 4 . 7
Seasonally adjusted annual rates
91.596.397.896.8
96.597.499.196.0
95.797.999.1
119.8127.3126. 5132.6
136.0139.3143.8140.2
133.2134.3138.3137.5
- 2 8 . 3- 3 1 . 0-28 .7- 3 5 . 8
- 3 9 . 4- 4 1 . 9-44 .7- 4 4 . 2
- 3 7 . 5- 3 6 . 4- 3 9 . 2
2.52.73.03.1
2.43.22.82.9
2.83.02.82.9
47.750.753.250.9
47.857.258.358.8
61.162.862.862.6
45.947.349.849.5
46.555.955.656.2
57.658.758.659.9
1.83.43.41.4
1.31.32.62.6
3.54.14.22.7
0.7- . 7- . 41.7
1.12.0
.1
.3
7
- i l l- 1 . 2
.2
837.3859.6878.7894.0
911.0929.0947.9955.9
964.9974.1986.7
- 2 . 5- 1 . 6- 2 . 9- 2 . 6
-3.6-5.3-5.5-4.3
- 5 . 4- 3 . 1- 1 . 1
Grossna-
tionalprod-uct
or ex-pendi-ture
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.9865.0931.4
- 2 . 5 976.8
834.9858.1875.8891.4
907.6923.7942.6951.7
959.5971.1985.5990.9
1 Personal income less personal tax and nontax payments (fines, penalties, etc.).2 Government transfer payments to persons, foreign net transfers by Government, net interest paid by government,
subsidies less current surplus of government enterprises, and disbursements less wage accruals.3 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allowances, and
private wage accruals less disbursements.* Private business investment, purchases of capital goods by private nonprofit institutions, and residential housing.
See Table C- l l .5 Net foreign investment less capital grants received by the United States, with sign changed.
Source: Department of Commerce, Office of Business Economics.
4 1 1 - 3 6 4 0 — 7 1 - -14205
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-7.—Gross national product by sector, 1929-70
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939 .
1940194119421943194419451946194719481949
195019511952 .19531954 . . .19551956195719581959
1960196119621963196419651966196719681969
1970 v ._.
1968: 1IIIIIIV
1969: 1IIillIV
1970: 1 . . .II.IllIV P . . . .
Totalgross
nationalproduct
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191 6210.1211.9208.5231.3257.6256.5
284.8328 4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.9865.0931.4
976.8
Total
98.8
85.871.253.650.959.566.375.283.577.082.9
91.9115.1142.8166 0177.9176.8187.7214 6240.1237.0
263.9301 0314.3332.7332.4363.8382.6402.0405.2439.4
456.3469.2505.7532.4569.4617.1673.3708.8770.1827.8
863.5
Gross private product l
Business
Total
95.1
82.468.351.348.957.464.172.981.074.580.3
89.1112.2139.5162 4173.8172.3182.7208 6233.5230.1
256.3292 8305.8323.6322.7352.9370.8389.3391.7425.0
440.7452.3487.4513.0548.2594.4648.9681.6740.1795.4
828.6
Nonfarm 2
85.4
74.862.046.844.352.757.166.572.767.974.0
82.6103.3126.5147 2158.5156.4163.9188 5210 2211.4
236.3269 9283.7303.3303.1334.1352.2370.9370.9405.3
420.2431 4466.2491.5527.6570.8624.0657.0714.6767.9
800.5
Farm
9.7
7.76.34.54.64.77.06.48.36.66.3
6.58.9
13.015 315.315.918.820 223 318.8
20.022 922.220.319.618.818.618.420.819.6
20 520 921.221 520.623.724.924.625.527.5
28.1
House-holdsa d
Institutions
2.9
2.72.31.91.71.81.92.02.32.22.3
2.42.52.93 23.74.14.55 15 65.9
6.46 97.27.88.19.19.8
10.511.412.2
13.214.015.016.017.318.520.222.825.328.1
30.3
Rest ofthe world
0.8
.7
.5
.4
.3
.3
.4
.3
.3
.4
.3
.4
.4
.44
.4
.4
.68
1 01.0
1.21 31.31.31.61.82.12.22.02.2
2.42.93.33.44.04.24.14.54.74.3
4.6
Grossgovern-
mentproduct*
4.3
4.54.74.44.75.65.97.36.97.67.6
7.89.4
15.125 632.235.220.816 717 419.4
?0.927 431 231.932.534.236.639.142.144.3
47 550 954.758 163.067.876 685.194.9
103.6
113.3
Seasonally adjusted annual rates
834.9858.1875.8891.4
907.6923.7942.6951.7
959.5971.1985.5990.9
743.8764.4778.9793.4
808.2822.3836.6844.0
848.5858.4871.7875.4
714.7734.0749.0762.9
776.2790.3804.2810.8
814.3824.5836.5839.0
689.7709.0723.4736.5
749.1762.7776.6783.0
785.5796.0808.5811.9
24.925.025.626.4
27.127.627.627.8
28.828.528.027.1
24.925.525.125.6
27.427.828.329.0
29.630.030.531.1
4.35.04.84.9
4.64.24.14.2
4.53.94.75.2
91.193.796.998.0
99.4101.4106.0107.7
111.0112.8113.9115.6
1 Gross national product less compensation of general government employees.2 Includes compensation of employees in government enterprises. Government enterprises are those agencies of gov-
ernment whose operating costs are to a substantial extent covered by the sale of goods and services, in contrast to thegeneral activities of government, which are financed mainly by tax revenues and debt creation. The Post Office and publicpower systems are examples of government enterprises; on the other hand, State universities and public parks are part ofgeneral government activities.
* Compensation of general government employees.
Source: Department of Commerce, Office of Business Economics.
206
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-S.—Gross national product by sector, in 1958 prices, 1929-70
[Billions of dollars, 1958 prices]
Year orquarter
1 9 2 9 . . . .
1 9 3 0 . . . .1 9 3 1 . . . .1 9 3 2 . . . .1 9 3 3 . . . .1 9 3 4 . . . .1 9 3 5 . . . .1 9 3 6 . . . .1 9 3 7 . . . .1 9 3 8 . . . .1 9 3 9 . . . .
1 9 4 0 . . . .1 9 4 1 . . . .1942 . . . .1 9 4 3 . . . .1944 . . . .1 9 4 5 . . . .1946 . . . .1947 . . . .1948 . . . .1949 . . . .
1950 . . . .1 9 5 1 . . .1952 . . .1953 . . . .1954 . . .1 9 5 5 . . .1956 . . .1957 . . .1958 . . .1959
196019611962 . . .1 9 6 3 . . .1964 . . .1 9 6 5 . . .1 9 6 6 . . .1967 . . .1 9 6 8 . . .1969 . . .
1970 P . .
1968: I.IIIllIV
1969: I.IIIllIV
1970: I.III I I . . . .IV v.. _
Totalgross
nationalproduct
203.6
183.5169.3144.2141.5154.3169.5193.0203.2192.9209.4
227.2263.7297.8337.1361.335<\2312.6309.9323.7324.1
355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9
487.7497.2529.8551.0581.1617.8658.1675.2707.2727.1
724.3
Tntal1 OT3I
190.9
170.1155.8131.0127.5138.3152.4173.1184.3172.6188.7
205.6236.6257.3272.8286.9282.5275.1281.4295.0294.1
^24.2344.6353.2371.1366.2397.2404.8410.5405.2433.4
444.0452.3482.9503.2532.0567.0603.5617.5647.6666.4
663.6
Total
182.1
161.4147.7123.8120.6131.1144.9165.4176.4164.6180.7
197.1228.1248.7264.9278.9274.6267.0272. 8286.0284.7
314.2334.5343.2360.7355. 4385.4392.2397.5391.7419.4
429.5436.946$. 7486.6514.4548.9584.9597.8627.2646.0
642.8
Gross private product1
Business
Nonfarm2
165.1
145.4129.2105.8103.0116.6128.4150.5158.5146.8162.5
179.6209.3228.0245.3259.5256.5248.6255.8267.0266.2
294.9316.2324.2340.7335.0364.4371.4377.2370.9398.3
407.6414.8444.6463.8492.1525.2562.5573.9603.4622.5
619.6
Farm
17.0
16.118.518.017.514.616.514.917.917.818.2
17.518.820.619.619.418.118.517.019.018.4
19.418.419.020.020.420.920.820.320.821.1
21.922.222.122.822.323.722.423.923.823.6
23.1
House-holdsand
institutions
7.4
7.16.66.05.76.26.46.87.16.87.1
7.67.57.87.27.17.17.17.57.98.2
8.78.88.89.19.2
10.110.610.911.411.7
12.212.412.913.213.714.014.615.415.916.4
16.6
Rest ofthe world
1.4
1.61.41.31.21.01.11.0.8
1.1.9
1.0.9.8.8.9.8.9
1.11.21.2
1.31.21.21.31.61.82.02.12.02.2
2.32.93.43.43.94.13.94.34.54.0
4.3
Seasonally adjusted annual rates
Grossgovern-
mentproduct*
12.7
13.313.513.214.016.017.119.918.920.420.6
21.627.240.564.374.472.837.528.628.730.1
31.138.841.841.740.940.741.341.942.142.5
43.744.846.947.849.150.854.657.659.760.7
60.7
693.5705.4712.6717.5
722.1726.1730.9729.2
723.8724.9727.4721.3
634.5645.7652.5657.5
662.1665.6669.8668.1
663.1664.2666.8660.4
614.6624.9632.2637.1
641.5645.3649.7647.6
642.1644.0645.9639.1
590.4601.7608.6612.9
616.7622.0626.2624.7
619.5621.0622.9615.1
24.223.223.524.2
24.723.323.522.8
22.623.022.924.0
15.916.115.715.8
16.316.316.316.6
16.716.516.516.5
4.14.74.64.7
4.33.93.84.0
4.33.64.44.9
58.959.760.159.9
60.160.561.061.1
60.760.760.660.9
1 Gross national product less compensation of general government employees.2 Includes compensation of employees in government enterprises. Government enterprises are those agencies of govern-
ment whose operating costs are to a substantial extent covered by the sale of goods and services, in contrast to the generalactivities of government, which are financed mainly by tax revenues and debt creation. The Post Office and public powersystems are examples of government enterprises; on the other hand, State universities and public parks are part of gen-eral government activities.
3 Compensation of general government employees.
Source: Department of Commerce, Office of Business Economics.
207
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-9.—Gross national product by industry, in 1958 prices, 1947-69
[Billions of dollars, 1958 prices]
Year
194719481949
19501951..1952.19531954
195519561957...1958.1959
196019611962.19631964
19651966196719681969
Totalgrossna-
tionalproduct
309.9323.7324.1
355.3383.4395.1412.8407.0
438.0446.1452.5447.3475.9
487.7497.2529.8551.0581.1
617.8658.1675.2707.2727.1
Agri-culture,fores-
andfish-eries
17.920.019.4
20.419.520.221.221.6
22.122.021.522.022.3
23.123.423.324.023.6
25.023.725.225.124.9
Con-tractcon-
struc-tion
12.914.114.7
16.218.218.318.919.3
20 821.821.120.722.0
21.721.421.721.923.3
23.524.723.123.623.8
Manufacturing
Total
91 896.390.9
105 5116.2118.7128.6119.5
133 6134.1134.6123.7138.9
140.9140.4154.6162.4173.7
190.5205.7205.4219.0227.5
Dur-ablegoodsindus-tries
52 355.050.5
60 869.071.579.171.2
80 779.479.669.679.9
81.079.790.095.6
102.4
114.8125.1123.9132.0137.5
Non-durablegoodsindus-tries
39 441.340.4
44 747.247.349.548.3
52.954.654.954.059.0
59.960.764.766.871.3
75.780.781.487.189.9
Trans-porta-tion,com-muni-cation,
andutili-ties
29 630.428.7
30 834.334.635.736.4
38.640.541.340.643.3
44.946.048.951.954.7
59.264.0.66. 5V
70.975.2
Whnlosaleandretailtrade
52.754.255.2
60.461.462.964.965.5
71.673.875.175.180.8
82.383.588.992.898.9
104.8111.6113.9120.7124.8
Finance,insur-ance,andreal
estate
35 636.537.8
41.042.944.746.849.8
52.754.857.059.261.4
64.167.171.274.478.3
83.186.891.695.296.7
Serv-ices
30 631.932.1
33 134.034.535.335.4
38.240.241.842.945.1
46.748.350.852.254.7
57.760.663.465.768.5
Gov-ern-mentand
govern-ment
enter-prises
32.433.234.7
35.943.947.247.146.1
46.046.246.947.347.9
49.250.652.653.956.1
58.061.865.568.670.2
Allother i
6 77.1
10.6
12 113.014.014 313.5
14 412.713.116.014.1
14.716.317.917.417.8
15.819.420.618.515.4
* Mining, rest of the world, and residual (the difference between gross national product measured as sum of fi nal prod-ucts and gross national product measured as sum of gross product by industries).
Source: Department of Commerce, Office of Business Economics.
208
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-10.—Personal consumption expenditures, 1929-70
[Billions of dollars]
Yearor
quarter
1929
193019311932.. . .1933—193419351936193719381939
1940. . . .1941 . . . .1942194319441945. . . .1946—.1947. . . .19481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970P_...
1968:1. .II .IllIV.
1969:1. .II.IllIV.
1970:1._II.IllIVP
1o.
ISOJQ.
77.2
69.960.548.645.851.355. 761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1375.0401.2432.8466.3492.1535.8577.5
616.8
•s
9.2
7.25.53.63.54.25.16.36.95.76.7
7.89.66.96.66.78.0
15.820.422.724.6
30.529.629.333.232.839.638.940.837.944.3
45.344.249.553.959.266.370.873.184.090.0
89.4
Durable goods
rQ.
•a
115
S<
3.2
2.21.6.9
1.11.41.92.32.41.62.2
2.73.4.7.8.8
1.04.06.27.59.9
13.111.611.114.213.618.416.418.315.419.5
20.118.422.024.325.830.330.330.537.240.3
37.3
o c:
"c.S-CO 3
Pu.
4.8
3.93.12.11.92.22.63.23.63.13.5
3.94.94.73.93.84.68.6
10.911.911.6
14.114.414.314.915.016.617.517.317.118.9
18.919.320.522.225.026.929.931.434.636.7
38.5
a>
O
1.2
1.1.9.6.5.6.7.8
1.0.9
1.0
1.11.41.61.92.22.53.23.33.43.2
3.33.63.94.14.24.65.05.25.45.9
6.36.56.97.58.59.1
10.511.212.3 i13.1
13.7
'oH-
37.7
34.029.022.722.326.729.332.935.234.035.1
37.042.950.858.664.371.982.490.596.294.5
98.1108.8114.0116.8118.3123.3129.3135.6140.2146.6
151.3155.9162.6168.6178.7191.1206.9215.0230.2245.8
264.7
Nondurable goods
1XJ•a
to
u.
19.5
18.014.711.411.514.216.218.419.918.919.1
20.223.428.433.236.740.647.452.354 252.5
53.960.463.464.465.467.269.973.676.478.6
80.582.985.788.292.998.8
105.8108.5115.1121.7
131.7
a>o
• a
OQ
"o
o
9.4
8.06.95.14.65.76.06.66.86.87.1
7.48.8
11.013.414.416.518.218.820.119.3
19.621.221.922.122.123.124.124.324.726.4
27.327.929.630.633.535.940.342.346.149.9
52.3
• a
a>c
IC5
1.8
1.71.51.51.51.61.71.92.12.12.2
2.32.62.11.31.61.83.03.64.45.0
5.46.16.87.78.29.09.8
10.611.011.6
12.312.412.913.514.015.316.617.619.021.1
22.9
1o7.0
6.35.74.84.65.25.45.96.36.26.7
7.18.09.3
10.611.713.013.815.717.517.7
19.221.121.722.722.624.025.427.128.230.1
31.232.734.436.338.241.144.446.650.053.2
57.9
"o
30.3
28.726.022.220.120.421.322.824.424.325.0
26.028.130.834.237.239.845.349.854.757.6
62.467.973.479.985.491.498.5
105.0112.0120.3
128.7135.1143.0152.4163.3175.5188.6204.0221.6241.6
262.7
c
OX
11.5
11.010.39.07.97.67.78.08.58.99.1
9.410.211.011.512.012.513.915.717.519.3
21.323.926.529.331.733.736.038.541.143.7
46.348.752.055.459.363.567.571.877.484.0
91.8
Services
|
Q
oT3O
"11X
4.0
3.93.53.02.83.03.23.43.73.63.8
4.04.34.85.25.96.46.87.58.18.5
9.510.411.112.012.614.015.216.217.318.5
20.020.822.023.124.325.627.129.131.233.9
36.3
o
112
2.6
2.21.91.61.51.61.71.92.01.92.0
2.12.42.73.43.74.05.05.35.85.9
6.26.77.17.87.98.28.69.09.3
10.1
10.810.611.011.411.612.613.614.515.616.7
18.1
a>
O
12.2
11.510.38.67.98.28.79.5
10.29.9
10.1
10.411.212.314.015.616.819.721.423.323.9
25.426.928.730.833.235.538.641.344.348.0
51.654.958.062.568.173.880.488.597.5
107.1
116.4
Seasonally adjusted annual rates
519.7529.1543.8550.8
561.8573.3582.1592.6
603.1614.4622.1627.6
79.982.686.786.9
89.190.689.590.8
89.191.991.285.4
34.936.039.138.8
39.840.040.241.1
37.739.439.232.8
33.734.135.435.2
35.837.236.736.9
38.338.938.138.5
11.412.512.313.0
13.513.412.612.7
13.113.613.914.1
225.6227.6232.6234.8
239.2244.0248.1252.0
258.8262.6265.8271.7
112.7114.7116.1117.0
119.1120.8122.4124.6
128.8131.2132.3134.5
44.845.247.147.2
47.950.050.750.9
51.351.852.353.7
18.818.619.219.3
20.320.821.521.7
22.422.723.023.4
49.349.150.251.3
52.052.453.554.9
56.356.958.360.0
214.2218.9224.5229.0
233.5238.7244.5249.8
255.2259.9265.1270.5
75.276.677.979.8
81.483.084.787.0
89.090.892.695.0
30.430.831.532.1
32.733.334.534.8
35.235.936.937.4
15.215.315.616.1
16.216.516.817.1
17.717.918.218.5
93.496.299.4
101.1
103.2105.9108.5110.9
113.3115.4117.4119.6
1 Includes standard clothing issued to military personnel.2 Includes imputed rental value of owner-occupied dwellings.Source: Department of Commerce, Office of Business Economics.
209
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-ll.—Gross private domestic investment, 1929-70
[Billions of dollars]
Year orquarter
1929..
1930..1931..1932..1933-1934..1935..1936..1937..1938..1939..
1940..1941__1942..1943-1944..1945..1946..1947..1948..1949..
1950..1951..1952-1953-1954..1955..1956..1957-1958..1959..
1960..1961-1962..1963..1964..1965..1966..1967 _1968.1969.
1 9 7 0 P
1968 : Il l . . _ .IIIIV
1969: IIII I I __.IV .__ .
1970: II I . . . .Ill
Totalgrossprivate
domesticinvest-ment
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
74.871.783.087.194.0
108.1121.4116.6126.5139.8
135.8
Fixed investment
Total
14.5
10.66.83.43.04.15.37.29.27.48.9
11.013.48.16.48.1
11.624.234.441.338.8
47.349.048.852.153.361.465.366.562.470.5
71.369.777.081.388.298.5
106.6108.4118.9131.4
132.2
Nonresidential
Total
10.6
8.35.02.72.43.24.15.67.35.45.9
7.59.56.05.06.8
10.117.023.426.925.1
27.931.831.634.233.638.143.746.441.645.1
48.447.051.754.361.171.381.683.388.799.3
102.6
Structures
Total
5.0
4.02.31.2.9
1.01.21.62.41.92.0
2.32.91.91.31.82.86.87.58.88.5
9.211.211.412.713.114.317.218.016.616.7
18.118.419.219.521.225.528.528.029.633.8
35.1
Non-farm
4.8
3.92.31.2.9
1.01.21.62.41.81.9
2.22.81.81.21.72.76.16.78.07.7
8.510.410.511.912.313.616.517.215.815.9
17.417.718.518.820.524.927.827.328.933.0
34.3
Producers'durable
equipment
Total
5.6
4.32.71.51.52.22.94.04.93.54.0
5.36.64.13.75.07.3
10.215.918.116.6
18.720.720.221.520.623.826.528.425.028.4
30.328.632.534.839.945.853.155.359.165.5
67.4
Non-farm
4.9
3.72.41.31.31.82.43.34.12.93.4
4.65.63.53.24.26.39.2
14.015.513.7
15.717.717.618.618.021.224.225.922.025.4
27.725.829.431.236.341.648.450.054.360.8
63.0
Residential structures
Total
4.0
2.31.7.7.6.9
1.21.61.92.02.9
3.43.92.11.41.31.57.2
11.114.413.7
19.417.217.218.019.723.321.620.220.825.5
22.822.625.327.027.127.225.025.130.332.0
29.7
Non-farm
3.8
2.21.6.7.5.8
1.11.51.81.92.8
3.23.71.91.21.11.46.7
10.413.612.8
18.616.416.417.219.022.720.919.520.124.8
22.222.024.826.426.626.724.524.529.731.5
29.0
Farm
0.2
.1
!o.0
Change inbusiness
inventories
Total
1.7
— 4- L I- 2 . 5-1 .6- . 71.11.32.5
- . 9.4
2.24.51.8
- . 6-1 .0-1 .0
6.4- . 54.7
- 3 . 1
6.810.33.1.4
- 1 . 56.04.71.3
- 1 54.8
3.62.06.05.95.89.6
14.88.27.68.5
3.6
Seasonally adjusted annual rates
119.8127.3126.5132.6
136.0139.3143.8140.2
133.2134.3138.3137.5
117.2117.0118.3123.3
128.7131.4132.4133.0
131.6131.2132.7133.4
88.386.488.391.6
95.797.5
101.5102.6
102.6102.8103.6101.4
29.828.929.430.3
32.632.335.235.1
35.735.335.034.6
29.128.228.629.6
31.931.534.434.3
34.834.534.233.8
58.557.559.061.3
63.165.266.367.5
66.967.568.666.8
53.452.854.356.7
58.560.661.862.3
62.463.264.162.6
28.830.629.931.7
33.033.931.030.4
29.128.429.232.0
28.330.129.431.1
32.433.330.429.8
28.427.828.631.4
0.6.6.5.5
.5
.6
.6
.6
.6
.6
.6
.6
2.610.48.29.3
7.47.9
11.37.2
1.63.15.54.1
Non-farm
1.8
- . 1- 1 . 6- 2 . 6- 1 . 4
.2
.42.11.7
- 1 . 0.3
1.94.0.7
- . 6- . 6- . 66.4
3!0-2.2
6.09.12.11.1
-2 .15.55.1.8
- 2 . 34.8
3.31.75.35.16.48.6
15.07.57.58.0
3.0
2.510.38.19.3
7.37.6
10.86.5
.92.65.03.6
Source: Department of Commerce, Office of Business Economics.
2 1 0
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-12.—National income by type of income, 1929-70[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
19501951195219531954195519561 9 5 7 . . . . . .19581959
1960196119621963196419651966196719681969
1970 p . . . .
1968: 1IIIIIIV
1969: L . . .I L _ .III ._I V . .
1 9 7 0 : 1 . . . .I I . . .I I I . .IV p .
Totalna-
tionalin-
come1
86.8
75.459 742.840.349.557.265.073.667.472.6
81.1104.2137.1170.3182.6181.5181.9199.0224 2217.5
241 1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.9518.1564.3620.6653.6712.7769.5
801.0
6*7.2706 1722.2735.2
749.3764.0779.5785.2
791.5797.4806.6
Compensation ofemployees
Total
51.1
46.839.831 129*534.337.342 947.945.048.1
52.164.885.3
109.5121.2123.1117.9128.9141 114L0
154 6180^7195.3209.1208.0224.5243.1256.0257.8279.1
294.2302.6323.6341.0365.7393.8435.5467.2514.1564.2
599.8
495.3507 6520 9532 5
544.9557.5572.2582.1
592.2596.4603.8606.8
Wagesand
sala-ries
50.4
46.239 130.529.033.736.741.946.143.045.9
49.862.182.1
105.8116.7117.5112.0123.0135 4134.5
146 8171.1185.1198.3196.5211.3227.8238.7239.9258.2
270.8278.1296.1311.1333.7358.9394.5423.1464.8509.0
540.1
447.9458 9471 0481 4
491.6502.9516.4525.3
534.4537.4543.4545.4
Sup-ple-
mentsto
wagesandsala-ries2
0.7
.7
.665
.6
.61 01.82.02.2
2.32.73.23.84.55.65.95 95 86i5
7 89i 6
10.210.911.513.215.217.317.920.9
23.424.627.529.932.035.041.044.249.355.1
59.7
47.448 749 951 1
53.354.655.856.8
57.959.060.461.4
Business and pro-fessional income
Total
9.0
7.65 83 63 34.75.56 77.26.97.4
8.611.114.017.018.219.221.620 322 722! 6
24 026! 127.127.527.630.331.332.833.235.1
34.235.637.137.940.242.445.247.349.150.5
51.4
In-come
ofunin-
corpo-ratedenter-prises
8.8
6.85.13.33.94.85.56.87.26.77.6
8.611.714.417.118.319.323.321.823 122.2
25 1261 526.927.627.630.531.833.133.235.3
34.335.637.137.940.342.845.647.649.851.3
52.1
Inven-toryvalu-ation
adjust-ment
0.1
.8
.6
.35
- . ' l.0
- . 1.0.2
- . 2
.0- . 6- . 4- . 2- . 1- . 1
- 1 . 7- 1 . 5- 4
.5
- 1 1- . 3
.2- . 2
.0- . 2- . 5- . 3- . 1- . 1
.0
.0
.0
.0- .1- . 4- . 4- . 3- . 7- . 8
- . 7
In-come
offarmpro-prie-tors 3
6.2
4.33.42.12.6 H3.05.34.36.04.44.4
4.56.49.8
11.711.612.214.915.217 512.7
13 515.815.013.012.411.411.411.313.411.4
12.012.813.013.112.114.816.114.«15.016.4
16.2
Seasonally adjusted annual rate:
48.549 249 249 4
49.950.550.950.6
50.651.251.752.0
14.414 615 315.8
16.216.216.616.6
17.016.516.115.3
Rentalinin-
comeof
per-sons
5.4
4.83.82.72.01.71.71.82.12.62.7
2.93.54.55.15.45.66.67.18.08.4
9 410.311.512.713.613.914.314.815.415.6
15.816.016.717.118.019.020.021.121.322.0
22.7
21.321 321 321.3
21.622.022.122.3
22.522.622.723.0
Corporate profitsand inventory
Total
10.5
7.02.0
- 1 . 3- 1 . 2
1.73.45.66.84.96.3
9.815.220.324.423.819.219.325.633.030.8
37.742.739.939.638.046.946.145.641.151.7
49.950.355.758.966.376.182.478.785.485.8
77.4
81.386.087.487.1
87.187.486.882.0
76.777.578.4
valuationadjustment
Corpo-rate
profitsbeforetaxes *
10.0
3.7- . 4
- 2 . 31.02.33.66.36.84.07.0
10.017.721.525.124.119.724.631.535.228.9
42.643.938.940.638.348.648.847.241.452.1
49.750.355.459.466.877.884.279.888.791.2
82.3
86.788 688.491.3
93.093.489.988.5
82.682.084.4
Inven-toryvalu-ation
adjust-ment
0.5
3.32.41.0
- 2 . 1- . 6
2-.'7
.01.0
- . 7
- . 2- 2 . 5- 1 . 2- . 8- . 3- . 6
- 5 . 3- 5 . 9- 2 . 2
1.9
- 5 . 0- 1 . 2
1.0- 1 . 0- . 3
- 1 . 7- 2 . 7- 1 . 5- . 3- . 5
.2- . 1
.3- .5- .5
- 1 . 7- 1 . 8- 1 . 1- 3 . 3- 5 . 4
- 4 . 9
- 5 . 4- 2 . 6- . 9
- 4 . 2
- 5 . 9- 6 . 0- 3 . 2- 6 . 5
- 5 . 8- 4 . 5- 5 . 9- 3 . 3
Netinter-
est
4.7
4.95.04.64.14.14.13.83.73.63.5
3.33.23.12.72.32.21.51.91.81.9
2.02.32.62.83.64.14.65.66.87.1
8.410.011.613.815.818.221.424.427.830.7
33.5
26.427.328.229.1
29.730.431.031.7
32.433.133.834.5
1 National income is the total net income earned in production. It differs from gross national product mainly in that itexcludes depreciation charges and other allowances for business and institutional consumption of durable capital goods,and indirect business taxes. See Table C-13.
2 Employer contributions for social insurance and to private pension, health, and welfare funds; compensation forinjuries; directors' fees; pay of the military reserve; and a few other minor items.
3 Includes change in inventories.* See Table C-73 tor corporate tax liability and profits after taxes.Source: Department of Commerce, Office of Business Economics.
211
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-13.—Relation of gross national product and national income, 1929-70
[Billions of dollars]
Year or quarter
1929..
1930..1931..1932..1933..1934..1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951..19521953..1954..1955..1956..1957..1958.1959.
1960.1961.1962.1963.1964.1965.1966.19671968!1969
1970 p.
1968: I.
IV.
1969: I.
IV.
1970: l_
Grossna-
tionalprod-
uct
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.9865.0931.4
976.8
Less:Capital
con-sump-
tionallow-ances
834.9858.1875.8891.4
907.6923.7942.6951.7
959.5971.1985.5990.9
7.9
8.07.97.47.06.86.97.07.27.37.3
7.58.29.8
10.211.011.39.9
12.214.516.6
18.321.223.225.728.231.534.137.138.941.4
43.445.250.052.656.159.863.968.974.078.9
84.3
Equals:Netna-
tionalprod-
uct
95.2
82.468.050.748.658.265.475.483.377.483.2
92.2116.3148.1181.3199.1200.7198.6219.1243.1239.9
266.4307.2322.3338.9336.6366.5385.2404.0408.4442.3
460.3474.9510.4537.9576.3625.1685.9725.0791.1852.5
892.4
Plus:Sub-sidiesless
currentsurplusof gov-
ern-mententer-prises
- 0 . 1
- . 1.0.0.0.3.4.0.1.2.5
.4
.1
.2
.2
.7
.8
.9- . 2
- ! l
.2
.2- . 1- . 4
2- ! i
.8
.9
.9
.1
.21.41.4.8
1.31.32.31.4.7
1.0
1.7
Less:
Indirect business tax andnontax liability
Total
7.0
7.26.96.87.17.88.28.79.29.29.4
10.011.311.812.714.115.517.118.420.121.3
23.325.227.629.629.432.134.937.338.541.5
45.247.751.554.758.462.565.770.478.185.2
92.0
Federal
1.2
1.0.9.9
1.62.22.22.32.42.22.3
2.63.64.04.96.27.17.87.88.08.0
8.99.4
10.310.99.7
10.711.211.811.512.5
13.513.614.615.316.116.515.716.318.019.1
19.6
Stateandlocal
5.8
6.16.05.85.45.66.06.46.86.97.0
7.47.77.77.88.08.49.3
10.612.113.3
14.515.817.318.719.721.423.625.527.028.9
31.734.136.939.442.345.949.954.160.166.1
72.4
Busi-ness
transferpay-
ments
0.6
.5
.6
.7
.7
.6
.6
.6
.6
.4
.5
.4
.5
.5
.5
.5
.5
.5
.6
.7
.8
.8
.91.01.21.11.21.41.51.61.7
1.92.02.12.32.52.73.03.13.33.5
3.6
Sta-tistical
dis-crep-ancy
0.7
- . 8.7.3.6.5
- . 21.2.0.6
1.3
1.0.4
-1 .1-2 .0
2.53.9.1.9
-2 .0.3
1.53.32.23.02.72.1
-1 .1.0
1.6- . 8
-1 .0- . 8
.5- . 3
- 1 . 3-3 .1-1 .0- . 7
-2 .4-4 .7
-2 .5
Equals:Na-
tionalincome
86.8
75.459.742.840.349.557.265.073.667.472.6
81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.9518.1564.3620.6653.6712.7769.5
801.0
Seasonally adjusted annual rates
72.373.774.675.5
77.078.279.480.7
82.183.685.086.5
762.6784.4801.2816.0
830.6845.5863.1871.0
877.4887.5900.5904.4
0.8.7.7.5
.81.11.01.2
1.61.51.82.0
75.577.479.280.4
82.184.386.687.7
89.391.193.394.3
17.417.818.218.4
18.519.019.519.3
19.319.420.119.6
58.059.561.061.9
63.665.367.168.4
70.071.773.274.6
3.23.33.43.5
3.53.53.53.5
3.63.63.63.7
-2.5-1.6-2.9-2.6
-3 .6-5.3-5 .5-4 .3
-5.4-3.1-1.1
687.2706.1722.2735.2
749.3764.0779.5785.2
791.5797.4806.6
Source: Department of Commerce, Office of Business Economics.
2 1 2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-14.—Relation of national income and personal income, 1929-70
[Billions of dollars]
Year or quarter
1929..
1930..1931-1932..1933..1934..1935..1936-1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946-1947..1948..1949..
1950..1951..1952..1953-1954..1955..1956..1957..1958..1959..
1960..196L.1962..1963..1964-1965-1966..1967..1968-1969-
1970 v.
1968: I . . .I I . .III.IV..
1969: I.
III.IV..
1970: I .I I . .III .IV i
687.2706.1722.2735.2
749.3764.0779.5785.2
791.5797.4806.6
Nationalincome
86.8
75.459.742.840.349.557.265.073.567.472.6
81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.9518.1564.3620.6653.6712.7769.5
801.0
Corpo-rate
profitsand in-ventory
valuationadjust-ment
10.5
7.02.0
-1 .3- 1 . 2
1.73.45.66.84.96.3
9.815.220.324.423.819.219.325.633.030.8
37.742.739.939.638.046.946.145.641.151.7
49.950.355.758.966.376.182.478.785.485.8
77.4
Less:
Contri-butions
forsocialinsur-ance
0.2
.3
.3
.3
.3
.3
.3
.61.82.02.1
2.32.83.54.55.26.16.05.75.25.7
6.98.28.78.89.8
11.112.614.514.817.6
20.721.424.026.927.929.638.042.447,153.6
57.1
Wageaccruals
lessdis-
burse-ments
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.2- . 2
.0
.0
.0
.0
.0
.0
.1
.0- . 1
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
. 0
. 0
. 0
.0
.0
.0
.0
Gov-ernmenttransfer
paymentsto per-
sons
0.9
1.02.11.41.51.61.82.91.92.42.5
2.72.62.62.53.15.6
10.811.110.511.6
14.311.512.012.814.916.117.119.924.124.9
26.630.431.233.034.237.241.148.755.761.6
73.9
Plus
Interestpaid
bygovern-
ment(net)
and by-consumers
2.5
1.81.81.71.61.71.71.71.91.91.9
2.12.22.22.63.34.25.25.56.16.5
7.27.68.19.09.5
10.111.212.012.113.6
15.115.016.117.619,120.522.223.626.329.0
31.8
Divi-dends
5.8
5.54.12.52.02.62.84.54.73.23.8
4.04.44.34.44.64.65.66.37.07.2
8.88.68.68.99.3
10.511.311.711.612.6
13.413.815.216.517.819.820.821.423.324.7
25.2
Busi-
nesstransfer
pay-ments
0.6
.5
.6
.7
.7
.6
.6
.6
.6
.4
.5
.4
.5
.5
.5
.5
.5
.5
.6
.7
.8
.8
.91.01.21.11.21.41.51.61.7
1.92.02.12.32.52.73.03.13.33.5
3.6
Seasonally adjusted annual rates
81.386.087.487.1
87.187.486.882.0
76.777.578.4
45.546.747.748.7
51.953.154.255.1
56.056.757.658.0
0.0.0.0.0
.0
.0
.0
.0
2.5- 2 . 1- . 4
.0
52.955.356.658.0
59.861.062.063.4
66.375.875.178.4
25.125.926.727.5
28.028.629.130.2
31.031.432.232.6
Equals:
Personalincome
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6465.5497.5538.9587.2629.3688.7748.9
801.0
22.323.123.824.1
24.124.425.025.2
25.225.125.425.1
3.23.33.43.5
3.53.53.53.5
3.63.63.63.7
664.0680.9697.6712.5
725.8741.1758.1770.5
782.3801.3807.2813.4
Source: Department of Commerce, Office of Business Economics.
213
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-15.—Disposition of personal income, 1929-70
Year orquarter
1929....
1930 .1931....1932....1933....1934....1935....1936....1937....1938....1939....
1940...1941....1942....1943...1944....1945....1946....1947....1948....1949....
1950....1951....1952....1953....1954....1955....1956....1957....1958....1959....
1960...1961....1962...1963....1964....1965....1966....1967..1968....1969....
1970 p
1968: I . . .II . .III..IV..
1969: L . . .II . .III..IV..
1970: I . . .11...III
Per-sonal
income
Less:Per-
sonaltaxand
nontaxpay-
ments
Equals:Dispos-
ableper-
sonalincome
Less: Personal outlays
Total
Per-sonalcon-
sump-tion
expend-itures
interestpaid by
con-sumers
Per-sonal
transferpay-
mentsto for-eigners
Equals:Per-
sonalsaving
Billions of dollars
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6465.5497.5538.9587.2629.3688.7748.9
801.0
2.6
2.51.91.51.51.61.92.32.92.92.4
2.63.36.0
17.818.920.918.721.421.118.6
20.729.034.135.632.735.539.842.642.346.2
50.952.457.460.959.465.775.483.097.5
117.3
116.4
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3404.6438.1473.2511.9546.3591.2631.6
684.7
79.1
71.161.449.346.552.056.462.767.464.867.7
71.881.789.3
100.1109.1120.7144.8162.5175.8179.2
193.9209.3220.2234.3241.0259.5272.6287.8296.6318.3
333.0343.3363.7384.7411.9444.8479.3506.0550.8593.9
634.7
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1375.0401.2432.8466.3492.1535.8577.5
616.8
1.5
.9
.7
.5
. 5
.5
.5
.6
.7
.7
.7
.8
.9
.7
.5
.5
1.51.9
2.42.73.03.84.04.75.45.85.96.5
7.37.68.19.1
10.111.312.413.214.315.7
17.0
Seasonally adjusted annual rates
0.3
.3
.3
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.1
.2
.4
.5
.7
.7
.7
.5
.5
.4
.4
.5
.5
.5
.6
.6
.6
.6
.5
.5
.5
.6
.6
.7
.6
.7
.7
.8
.9
664.0680.9697.6712.5
725.8741.1758.1770.5
782.3801.3807.2813.4
89.192.6
102.1106.5
113.8118.1117.5119.9
117.0117.7114.2116.5
574.9588.4595.6606.0
612.0623.0640.6650.6
665.3683.6693.0696.9
534.1543.8559.1566.4
577.7589.7598.7609.6
620.5632.1640.2646.0
519.7529.1543.8550.8
561.8573.3582.1592.6
603.1614.4622.1627.6
13.814.114.514.9
15.315.615.816.1
16.416.817.217.5
0.7.7.8.7
.7
.8
.9
.8
.91.01.01.0
4.2
3.42.6
- . 6- . 9
.42.13.63.8.7
2.6
3.811.027.633.437.329.615.27.3
13.49.4
13.117.318.118.316.415.820.620.722.319.1
17.021.221.619.926.228.432.540.440.437.6
50.0
40.844.636.539.6
34.333.342.041.1
44.851.552.750.9
Percent of disposablepersonal income
Personaloutlays
Total
Con-sump-
tionexpend-
itures
Percent
95.0
95.495.9
101.3102.099.396.394.694.798.996.3
94.988.276.475.074.580.390.595.792.995.0
93.792.492.492.893.694.393.093.393.094.4
95.194.294.495.194.094.093.692.693.294.0
92.7
92.992.493.993.5
94.494.793.593.7
93.392.592.492.7
92.7
93.894.499.8
100.698.095.293.393.497.695.0
93.686.975.774.474.079.789.694.691.893.8
92.391.090.991.191.992.491.091.291.092.3
92.992.092.292.791.691.591.190.190.691.4
90.1
90.489.991.390.9
91.892.090.991.1
90.789.989.890.0
Per-sonalsaving
5.0
4.64.1
-1 .3- 2 . 0
.73.75.45.31.13.7
5.111.823.625.025.519.79.54.37.15.0
6.37.67.67.26.45.77.06.77.05.6
4.95.85.64.96.06.06.47.46.86.0
7.3
7.17.66.16.5
5.65.36.56.3
6.77.57.67.3
Source: Department of Commerce, Office of Business Economics.
214
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-16.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 prices, 1929-70
Year or quarter
Disposable personal income
Total (billionsof dollars)
Current 1958prices prices
Per capita(dollars)
Currentprices
1958prices
Personal consumption expenditures
Total (billionsof dollars)
Currentprices
1958prices
Per capita(dollars)
Current 1958prices prices
Popu-lation(thou-
sands) l
1929..
1930..1931..1932..1933..1934..1935..1936..1937.1938.1939..
1940..1941.1942..1943..1944..1945..1946..1947..1948..1949.
1950.1951.1952.1953.1954.1955..1956.1957.1958.1959.
1960.1961.1962.1963.1964.1965.1966.1967.1968.1969.
1970 P.
1968: I .ILIIIIV
1969: I .II .IIIIV
1970: I .II.III
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3404.6438.1473.2511.9546.3591.2631.6
684.7
150.6
139.0133.7115.1112.2120.4131.8148.4153.1143.6155.9
166.3190.3213.4222.8231.6229.7227.0218.0229.8230.8
249.6255.7263.3275.4278.3296.7309.3315.8318.8333.0
340.2350.7367.3381.3407.9435.0458.9477.5499.0511.5
529.7
683
605516390362414459518552504537
573695867976
1,0571,0741,1321,1781,2901,264
1,3641,4691,5181,5831,5851,6661,7431,8011,8311,905
1,9371,9832,0642,1362,2802,4322,5992,7442,9393,108
3,333
1,236
1,1281,077
921893952
1,0351,1581,1871,1051,190
1,2591,4271,5821,6291,6731,6421,6061,5131,5671,547
1,6461,6571,6781,7261,7141,7951,8391,8441,8311,881
1,8831,9091,9682,0132,1232,2352,3312,3982,4bO2,517
2,579
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1375.0401.2432.8466.3492.1535.8577.5
616.8
139.6
130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2
155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5
230.5232.8239.4250.8255.7>274. 2281.4288.2290.1307.3
316.1322.5338.4353.3373.7397.7418.1430.1452.3467.7
477.2
634
567487389364406437483516492510
536604656726782855
1,0141,1151,1841,185
1,2591,3371,3811,4411,4561,5391,5851,6431,6661,758
1,8001,8241,9021,9802,0882,2242,3682,4712,6632,842
3,003
1,145
1,0591,016
919897934985
1,0801,1101,0791,131
1,1781,2401,1971,2131,2381,3081,4391,4311,4381,451
1,5201,5091,5251,5721,5751,6591,6731,6831,6661,735
1,7491,7551,8131,8651,9452,0442,1232,1602,2482,301
2,323
Seasonally adjusted annual rates
574.9588.4595.6606.0
612.0623.0640.6650.6
665.3683.6693.0696.9
492.3498.6501.2504.0
504.7507.5515.9517.8
522.9532.0534.2529.8
3,2523,3333,3693,378
445.0448.4457.7458.1
463.3467.1468.7471.7
474.0478.1479.6477.1
2,5932,6342,6992,726
2,7752,8252,8602,904
2,9482,9953,0243,042
2,2202,2322,2722,268
2,2882,3022,3032,311
2,3172,3312,3312,312
121,875
123,188124,149124,949125,690126,485127,362128,181128,961129,969131,028
132,122133,402134,860136,739138,397139,928141,389144,126146,631149,188
151,684154,287156,954159,565162,391165,275168,221171,274174,141177,073
180,684183,756186.656189,417192.120194,592196,907199,119201,177203,213
205,395
200,435200,908201,465202,028
202,47520?, 953203, 505204,091
204,586205,113205, 706206,336
i Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960.Annual data are for July 1; quarterly data are for middle of period, interpolated from monthly data.
Sources: Department of Commerce (Office of Business Economics and Bureau of the Census) and Council of EconomicAdvisers.
215
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-17.—Sources of personal income, 1929-70
[Billions of dollars]
Year or quarter
1929
193019311932.19331934.1935.1936.1937.1938.1939.
1940.1941.1942.1943.1944.1945.1946.1947.1948.1949.
1950.1951.1952.1953.1954.1955.1956.1957.1958.1959.
1960.1961.1962.1963.19641965.19661967.1968.1969.
1970
Totalper-
sonalincome
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6465.5497.5538.9587.2629.3688.7748.9
801.0
Wage and salary disbursements1
Total
50.4
46.239.130.529.033.736.741.946.143.045.9
49.862.182.1
105.6116.9117.5112.0123.0135.3134.6
146.7171.0185.1198.3196.5211.3227.8238.7239.9258.2
270.8278.1296.1311.13*3. 7358.9394.5423.1464.8509.0
540.1
Commodity-producingindustries
Total
21.5
18.514.39.99.8
12.113.515.818.415.317.4
19.727.539.148.950.345.846.054.361.057.7
64.676.181.889.485.492.8
100.2103.899.7
109.1
112.5112.8120.8125.7134.1144.5159.3166.5181.5197.5
201.2
Manu-factur-
ing
16.1
13.810.87.77.89.6
10.812.414.611.813.6
15.621.730.940.942.938.236.542.547.244.7
50.359.464.271.267.673.979.582.578.786.9
89.789.896.7
100.6107.2115.6128.1134.2145.9157.5
158.9
Distrib-utive
indus-tries
15.6
14.512.59.88.89.9
10.711.813.212.613.3
14.216.318.020.122.724.831.035.237.637.7
39.944.346.949.850.253.457.760.560.864.8
68.169.172.576.081.286.993.8
100.3109.2119.8
128.4
Serviceindus-tries
8.4
8.07.15.85.25.75.96.57.16.87.1
7.58.19.09.9
10.912.014.416.117.918.6
19.921.723.325.126.428.931.633.935.938.7
41.544.046.849.954.158.363.770.578.487.7
96.6
Gov-ern-ment
4.9
5.25.35.0
6il6.57.97.58.28.2
8.410.216.026.633.034.920.717.418.920.6
22.428.933.134.134.636.238.340.443.545.6
48.752.256.059.564.369.377.785.895.7
104.1
114.0
Otherlabor
in-come1
0.6
.6
.5
.5
.4
.4
.5
.6
.6
.6
.6
.7
.7
.91.11.51.81.92.32.73.0
3.84.85.36.06.37.38.49.59.9
11.3
12.012.713.914.916.618.720.722.324.927.6
30.4
Proprietors'income
Busi-nessand
profes-sional
9.0
7.65.83.63.34.75.56.77.26.97.4
8.611.114.017.018.219.221.620.322.722.6
24.026.127.127.527.630.331.332.833.235.1
34.235.637.137.940.242.445.247.349.150.5
51.4
Farm 2
6.2
4.33.42.12.63.05.34.36.04.44.4
4.56.49.8
11.711.612.214.915.217.512.7
13.515.815.013.012.411.411.411.313.411.4
12.012.813.013.112.114.816.114.815.016.4
16.2
Seasonally adjusted annual rates
1968: I . . .IIIIIIV.
1969: I . . .II...III.IV.
1970: I . . .II..MLIVP
664.0680.9697.6712.5
725.8741.1758.1770.5
782.3801.3807.2813.4
447.9458.9471.0481.4
491.6502.9516.4525.3
531.9539.5543.8545.4
175.2179.3183.2188.1
191.5196.0199.9202.5
202.7201.5201.9198.7
141.0144.1147.4150.9
153.2156.4159.7160.8
160.7159.6159.7155.8
105.2107.7110.9113.1
115.5118.5121.3123.8
125.9127.0129.7131.0
75.677.679.281.3
84.586.788.790.9
93.995.597.399.5
92.094.397.698.9
100.0101.7106.5108.1
109.3115.5114.9116.1
23.824.625.326.0
26.727.327.928.5
29.330.030.831.5
48.549.24.9.249.4
49.950.550.950.6
50.651.251.752.0
14.414.615.315.8
16.216.216.616.6
17.016.516.115.3
See footnotes at end of table.
2 l 6
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-17.—Sources of personal income, 7929-70—Continued
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939.
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970 v
1968: I — .I I . . .IllIV
1969: I.
IV
1970: I .III l lIV p . . . .
Rentalncomeof per-sons
5.4
4.83.82.72.01.71.71.82.12.62.7
2.93.54.55.15.45.66.67.18.08.4
9.410.311.512.713.613.914.314.815.415.6
15.816.016.717.118.019.020.021.121.322.0
22.7
Divi-dends
5.8
5.54.12.52.02.62.84.54.73.23.8
4.04.44.34.44.64.65.66.37.07.2
8.88.68.68.99.3
10.511.311.711.612.6
13.413.815.216.517.819.820.821.423.324.7
25.2
Personalinterestincome
21.321.321.321.3
21.622.022.122.3
22.522.622.723.0
7.2
6.86.76.35.75.85.75.55.65.55.5
5.45.55.35.35.66.36.87.57.98.5
9.29.9
10.611.813.114.215.717.618.920.7
23.425.027.731.434.938.743.648.054.059.7
65.3
Transfer payments
Total
1.5
1.52.72.22.12.22.43 52.42.83.0
3.13.13.13.03.66.2
11.311.711.212.4
15.112.513.014.016.017.318.521.425.726.6
28.532.433.335.336.739.944.151.859.065.1
77.5
Old age,survivors,disability,and healthinsurancebenefits
0.0.0.0
.0
.1
.1
.2
.2
. 3
.4
.5
.6
.7
1.01.92.23.03.64.95.77.38.5
10.2
11.112.614.315.216.018.120.825.730.333.0
38.5
Stateunem-ploy-
ment in-surancebenefits
0.0.4.4
.5
.3
.3
.1
.1
.41.1.8.8
1.7
1.4.8
1.01.02.01.41.41.83.92.5
2.84.02.92.82.62.21.82.12.12.1
3.9
vet-erans
honofitcUd lull to
0.6
.61.6.8.5.4.5
1.9.6. 5.5
. 5
.5
.5
.5
.92.86.76.75.85.1
4.93.93.93.73.94.34.34.44.64.6
4.64.84.85.05.35.65.76.67.28.3
9.5
Other
0.9
.91.11.41.61.81.91.61.81.92.0
2.02.22.22.22.42.73.13.74.14.9
7.95.96.06.36.56.87.27.98.79.4
10.010.911.212.212.914.015.717.519.521.6
25.6
Less:Personalcontri-butions
for socialinsur-ance
0.1
.1
.2
.2
.2
.2
.2
.2
.6
.6
.6
7
!81.21.82.22.32.02.12.22.2
2.93.43.84.04.65.25.86.76.97.9
9.39.6
10.311.812.513.417.720.522.826.0
27.8
Seasonally adjusted annual rates
22.323.123.824.1
24.124.425.025.2
25.225.125.425.1
51.553.254.856.6
57.759.060.161.9
63.464.566.067.1
56.158.660.061.4
63.364.565.567.0
69.879.478.782.1
28.230.330.931.8
32.332.933.133.5
34.241.539.039.5
2.21.92.12.0
2.11.92.22.3
2.93.64.34.8
7.17.27.27.4
7.98.48.38.7
9.09.59.7
10.1
18.719.219.820.2
21.021.421.822.4
23.824.925.827.7
Non-agricul-
turalpersonalincome*
77.6
70.860.846.743.249.853.963.066.762.666.9
72.387.8
111.0137.3151.2156.4161.0173.0189.4191.3
210.9236.4254.1271.9274.7296.4318.5336.6344.3368.5
385.2400.0425.5448.1480.9519.5566.3609.4668.2726.7
778.6
21.922.623.123.5
25.225.826.426.8
27.427.728.028.1
644.2661.0676.8690.9
703.9719.1735.7747.9
759.2778.6784.9791.8
1 The total of wage and salary disbursements and other labor income differs from compensation of employees inTable C-12 in that it excludes employer contributions for social insurance and the excess of wage accruals over wagedisbursements.
2 Includes change in inventories.3 Nonagricultural income is personal income exclusive of net income of unincorporated farm enterprises, farm wages,
agricultural net interest, and net dividends paid by agricultural corporations.
Source: Department of Commerce, Office of Business Economics.
217
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C—18.—Sources and uses of gross saving, 1929-70
[Billions of dollars]
Year orquarter
1929
193019311932193319341935 . .1936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970 v
1968- 1IIIII
1969: 1IIIIIIV
1970: 1III I I . . . .IV P .
Gross private saving and government surplus or deficit,national income and product accounts
Total
16.3
11.85.0.8.9
3.26.67.2
11.97.08.8
13.618.610.7
5.52.55.2
35.142.049.935 9
50.456.149.547.548.564.872.771.259.273.8
77.575.585.090.5
101.0115.3124.9119.5128.6143.7
139.0
Private saving
Total
15.3
12.18.02.52.35.68.6
10.311.58.7
11.0
14.322.442.049.754.344.729.727.541.439.0
42.550.353.354.455.662.167.870 571.775.9
73.979.887.988.7
102.4113.1123.8133.4135.9135.0
148.6
Per-sonalsaving
4.2
3.42.6
- . 6- . 9
.42.13.63.8.7
2.6
3.811.027.633.437.329.615.27.3
13.49.4
13.117.318.118.316.415.820.620.722.319.1
17.021.221.619.926.228.432.540.440.437.6
50.0
Grossbusi-ness
saving
11.2
8.65.33.23.25.26.46.77.78.08.4
10.511.414.516.317.115.114.520.228.029.7
29.433.135.136.139.246.347 349 849.456.8
56.858.766.368.876.284.791 393.095.697.3
98.6
Government surplusor deficit ( - )
Total
1.0
- . 3- 2 . 9- 1 . 8- 1 . 4- 2 . 4- 2 . 0- 3 . 1
- 1 . 8- 2 . 2
- . 7- 3 . 8
-31 .4-44 .1-51 .8-39 .5
5.414.48.5
- 3 . 2
7.85.8
- 3 . 8- 6 . 9-7 .0
2.74.9
-12 .5- 2 . 1
3.7- 4 . 3- 2 . 9
1.8- 1 . 4
2.21.1
-13 .9- 7 . 3
8.7
- 9 . 6
Fed-eral
1.2
. 3- 2 . 1- 1 . 5- 1 . 3- 2 . 9- 2 . 6- 3 . 6
- . 4- 2 . 1- 2 . 2
- 1 . 3- 5 . 1
-33 .1-46 .6-54 .5-42 .1
3.513.48.4
- 2 . 4
9.16.2
- 3 . 8- 7 . 0- 5 . 9
4.05.72.1
-10 .2- 1 . 2
3.5- 3 . 8- 3 . 8
- 3 . 01.2
- 2-12 .4- 6 . 2
9.3
-10 .8
Stateandlocal
- 0 . 2
- . 6- . 8- . 3- . 1
.5
. 6
.5
.7
.4(2)
.61.31.82.52.72.61.91.0
- . 7
- 1 . 2
.1- 1 . 1- 1 . 3- . 9
- 1 . 4- 2 . 3
- . 8
.2- . 5
.91.21.71.01.3
- 1 . 6- 1 . 1- . 6
1.2
Capitalgrants
receivedby theUnitedStates
0.9
Gross investment
Total
17.0
11.05.81.11.63.86.48.4
11.87.6
10.2
14.619.09.63.55.09.1
35.242.947.936.2
51.859.551.650.551.366.971.671.260.773.0
76.574.785.590.399.7
112.2123.9118.8126.2138.9
137.4
Grossprivatedomes-tic in-vest-ment
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
74.871.783.087.194.0
108.1121.4116.6126.5139.8
135.8
Netforeigninvest-ment i
0 8
.72224
- . 11
1.19
1 51.1
- . 2- 2 . 2- 2 . 1- 1 4
4.68.91.9
- 2 . 2.2
- . 3- 2 . 1
- . 51 53 4
—.2- 2 . 3
1.73.02.53.15.74.12 42.2
- . 3- . 9
1.6
Statis-ticaldis-
crep-ancy
0.7
- . 873
.6
.5- . 2
1.20
.61.3
1.0. 4
- 1 . 1- 2 . 0
2.53.9
.9- 2 . 0
.3
1.53.32.23.02.72.1
- 1 . 1. 0
1.6- . 8
- 1 . 0- . 8
.53
- 1 . 3- 3 . 1- 1 . 0- . 7
- 2 . 4-4 .7
-2 .5
Seasonally adjusted annual rates
121.6129.6129.8133.5
138.5142.5149.1144.2
139.3138.5140.6
132.3140.8134 3136.4
130.8130.7141 1137 1
140.5149.4151.8
40.844.636 539.6
34.333.342 041 1
44.851.552.750.9
91.596.297 896.8
96.597.499 196 0
95.797.999.1
-10 .7-11 .2—4 5- 2 . 9
7 711.88 07 i
- 1 . 2- 1 0 . 9- 1 1 . 2
- 9 . 2-10 .5—4 1- 1 . 1
9.513.48 36 1
- 1 . 7-14 .2- 1 1 . 8
- 1 . 6- . 7— 4
- 1 . 9
- 1 . 8- 1 . 5_ 31 0
.53.4.7
0.9.9.9.9
119.1128.1126.9130.9
134 9137.3143.6139.9
134.8136.3140.4138.1
119.8127.3126.5132.6
136.0139.3143.8140.2
133.2134.3138.3137.5
- 0 . 7.7.4
- 1 . 7
- 1 . 1- 2 . 0- . 1- . 3
1.62.02.1
.6
-2 .5-1 .6-2 .9-2 .6
-3 .6- 5 . 3-5 .5-4 .3
- 5 . 4- 3 . 1- 1 . 1
* Net exports of goods and services less net transfers to foreigners.'Surplus of $32 million.»Deficit of $41 million.Source: Department of Commerce, Office of Business Economics.
2l8
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-\9—Saving by individuals, 1946-70 J
[Billions of dollars]
Year orquarter
1946..1947..1948..1949..
1950..1951._1952..1953..1954..
1955.-1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965..1966..1967..1968..1969..
1969: I-
IV..
1 9 7 0 : I . . .III l l -
Total
25.420.723.619.2
27.330.326.329.927.9
33.634.933.532.533.2
28.731.337.338.945.2
52.556.162.757.355.3
Increase in financial assets
Total 2
18.413.39.2
10.0
13.718.021.422.122.3
27.928.928.031.134.9
27.734.939.344.951.3
56.054.466.663.656.4
Cur-rencyandde-
mandde-
posits
4.85
-2'. 5-1.9
2.24.61.7.5
1.9
1.2
l !3. 4
-1 .91.32.95.56.5
7.33.1
11.56.93.4
Sav-ingsac-
ounts
6.33.42.32.6
2.54.57.78.39.2
9.512.114.011.4
12.417.423.423.023.9
26.419.132.527.711.3
Securities
Gov-ern-lent
Corpo-rateandfor-eign
bonds
1.22.31.21.8
.4- . 5
.82.4.9
5.93.41.9
-1 .98.1
2.9.7.8
4.34.2
4.49.5
-1 .46.9
16.8
Corpo-rate
itocM
- 0 . 9- . 8- . 2- . 4
- . 2.0.0
- . 4
1.1.9
1.01.1.3
.2
.3- . 6- . 6- . 5
.72.04.04.64.9
1.11.11.0.7
.71.61.6.9.7
1.12.01.51.5.6
- . 4.4
-2.1-2.8
.0
-1.9-1.0-4.8-7.7-4.3
nsur-anceandpen-sionre-
erves
Non-farm
homes
5.35.45.35.5
6.96.27.67.97.9
8.49.69.5
10.111.5
11.712.212.813.915.3
17.218.020.019.520.3
Net investment in
4.26.9
10.59.0
13.713.512.813.513.7
17.716.413.812.716.5
14.512.012.812.612.5
12.011.59.2
13.013.2
Con-umerdu-
rables
5.87.57.17.0
10.25.53.66.44.9
9.95.94.9.6
5.5
5.12.96.78.9
11.2
14.815.212.417.017.3
Non-cor-po-ratebusi-ness
assets
3.33.27,42.4
6.44.52.51.62.7
3.51.92.43.33.2
2.13.25.66.96.2
9.07.28.27.6
Mort-gagedebton
non-farm
homes
Less:Increase indebt
3.84.35.04.1
7.47.16.47.78.6
12.211.28.88.8
12.6
10.810.912.714.816.0
15.212.310.54.9
116.3
Con-umet
credit
2.73.22.82.9
4.11.24.83.91.1
6.43.52.6.2
6.4
4.61.85.87.98.5
10.07.24.6
11.19.3
Otherdebt«
- 0 . 22.62.62.4
5.22.82.92.16.0
6.83.54.26.27.9
5.48.88.5
11.911.4
13.912.718.617.914.7
Seasonally adjusted annual rates
56.044.261.354.7
54.163.367.9
53.847.262.862.0
53.361.179.4
-7 .95.5
- 1 . 517.3
-3 .2- . 71.4
19.614.55.15.9
13.224.840.2
21.03.8
27.515.1
16.5.6
4.7
4.85.34.74.7
8.210.47.1
-5 .4-5 .3- 2 . 3-3 .8
-7 .01.4
-1 .5
18.519.924.518.5
20.020.221.9
13.615.413.210.5
10.29.58.2
17.817.714.814.5
11.112.210.0
8.68.19.68.9
6.88.88.4
17.016.916.015.2
12.312.614.0
9.910.48.88.4
4.86.26.4
10.916.814.217.6
10.19.2
17.7
1 Individuals'savingsectorincludeshouseholds, privatetrustfunds, nonprofit institutions, farms, and other noncorporatebusinesses.
2 Includes miscellaneous financial assets, not shown separately.3 U.S. Government and agency securities and State and local obligations.4 Includes investment company shares.5 Private life insurance reserves, private insured and noninsured pension reserves, and government insurance and
pension reserves.6 Security credit, policy loans, noncorporate business debt, and other debt.
Source: Board of Governors of the Federal Reserve System.
219
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-20.—Number and money income {in 1969 prices) of families and unrelated individuals,by race of head, 1947-69
Year
FAIVHUES:i194719481949
1950.1951.. .1952...1953...1954...1955..1956..1957...1958...1959...
19601961..1962...1963. . .1964...1965.. .1966—
1966 2.1967 2.1968 21969 2,
UNRELATEDINDIVIDUALS:194719481949
1950..1951...1952..1953..1954..1955..1956..1957..1958..1959..
I960..1961.1962.1963_1964..1965..1966.
1966 2.1967 2.1968 2.1969 2.
Totalnum-ber
(mil-lions)
37.238.639.3
39.940.640.841.242.042.943.543.744.245.1
45.546.347.047.447.848.348.9
49.149.850.551.2
8.28.49.0
9.49.19.79.59.79.99.8
10.410.910.9
11.111.211.011.212.112.112.4
Total
12.313.113.814.5
Medianincome
$4,9724,8554,779
5,0695,2395,3865,8075,6756,0556,4496,4566,4416,808
6,9627,0347,2287,4877,7588,0828,396
8,4678,7649,1029,433
1,6401,5311,641
1,6121,6851,9471,9121,6671,8041,9221,9601,9181,970
2,1312,1522,1302,1652,3512,5022,570
With incomesunder $3,000
Num-ber
(mil-lions)
9.19.5
10.3
9.79.18.98.59.38.47.77.88.07.6
7.67.87.47.06.66.35.9
5.85.54.94.8
Per-cent
24.424.726.1
24.422.421.720.622.119.717.817.918.116.8
16.816.915.714.813.813.012.2
11.910.99.69.3
With incomesunder $1,500
Num-ber
(mil-lions)
3.94.24.3
4.54.34.14.24.64.44.24.34.54.4
4.34.34.04.04.13.93.8
Per-cent
47.649.447.7
48.447.742.344.147.444.442.841.241.940.9
39.138.336.636.234.731.831.0
White
Totalnum-ber
(mil-lions)
34.135.3
38.239.039.539.740.240.9
41.141.942.442.743.143.544.0
44.144.845.446.0
7.27.3
8.28.58.58.99.29.3
9.69.69.59.7
10.410.510.8
10.7
Medianincome
$5,1945,0514,973
5,2905,4555,6886,0295,9136,3326,7446,7236,7147,106
7,2527,3617,5647,8418,1018,4248,718
8,7979,0869,4339,794
1,7361,6181,760
1,7141,7752,1082,0221,7941,9171,9732,0822,0192,093
2,3052,3162,2852,2762,4712,6182,683
With incomesunder $3,000
Num-ber
(mil-lions)
7.37.7
7.56.76.06.16.25.8
5.96.05.75.45.14.94.6
4.54.33.83.7
Per-cent
21.121.723.4
21.619.518.718.319.617.215.415.515.514.3
14.314.413.412.611.911.210.4
10.29.68.38.1
With incomesunder $1,500
Num-ber
(mil-lions)
3.33.5
3.73.63.53.53.73.6
3.53.53.33.33.43.23.2
Per-
45.947.946.0
47.046.740.643.245.242.541.739.440.238.9
36.936.034.434.333.130.429.7
Negro and other races
Totalnum-ber
(mil-lions)
3.13.3
3.83.94.04.04.04.2
4.34.54.64.84.84.84.9
5.05.05.15.2
1.01.1
1.51.41.31.51.61.6
1.51.61.51.51.61.71.6
1.6
Medianincome
$2,6602,6942,538
2,8482,8713,2303,3903,2923,4853,5483,5983,4513,661
4,0013,9134,0374,1654,5334,6665,224
5,2755,6415,8956,191
1,2241,2021,261
1,2451,3471,4571,5871,2371,3201,4851,4051,4081,406
1,3921,4361,5221,5611,7561,9311,954
With incomesunder $3,000
Num-ber
(mil-lions)
1.81.8
1.81.71.71.71.81.8
1.71.81.71.61.51.41.3
1.31.21.11.1
Per-cent
56.755.158.1
52.452.345.743.646.343.442.042.344.141.9
38.439.236.235.330.829.526.2
25.924.221.420.4
With incomesunder $1,500
Num-ber
(mil-lions)
0.6.7
Per-cent
57.760.258.2
57.354.151.348.358.855.750.553.252.952.7
53.552.149.448.744.740.640.5
2,6442,9452,931
4.03.73.8
30.526.726.5
11.312.012.5
2,7603,0903,078
3.33.03.1
29.225.124.6
1.81.82.0
2,0162,1382,170
39.136.738.1
iThe term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residingtogether; all such persons are considered members of the same family.
2 Based on revised methodology.3 The term "Unrelated individuals" refers to persons 14 years old and over (other than inmates of institutions) who are
not living with any relatives.Source: Department of Commerce, Bureau of the Census.
2 2 0
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POPULATION, EMPLOYMENT, WAGES, ANDPRODUCTIVITY
TABLE C-21.—Population by age groups: Estimates, 1929-70, and projections, 1975-85[Thousands of persons]
July 1
Estimates:1929
19301931193219331934..
1935193619371938 . .1939
1940 .1941194219431944
1945194619471948 ..1949
195019511952...19531954
19551956195719581959
1960 .. .1961196219631964
1965196619671968_.1969
19701
Projections^1975: Series C-...
Series D
1980: Series C . . .Series D
1985: Series C . . .Series D
Total
121,767
123,077124.040124.840125. 579126,374
127,250128. 053128.825129,825130,880
132,122133,402134,860136,739138, 397
139,928141,389144,126146,631149,188
152,271154,878157,553160,184163,026
165,931168,903171,984174,882177,830
180,684183,756186 656189.417192,120
194,592196,920199,114701,152203, 216
205, 395
217, 557215, 588
232, 412227, 510
249,248240, 925
Age (years)
Under 5
11,734
11,37211,17910,90310,61210,331
10,17010,04410,00910,17610,418
10,57910,85011,30112,01612,524
12,97913,24414,40614,91915,607
16,41017,33317,31217,63818,057
18, 56619,00319,49419,88720,175
20,36420,65720,74620.75020,670
20,40419,81119,16818, 50617,960
17, 741
19,96818,187
23, 24520, 305
25,79122, 356
5-15
26,800
26,98326,98426,96926,89726,796
26.64526,41526,06225,63125,179
24,81124,51624,23124,09323,949
23,90724,10324,46825,20925,852
26,72127,27928.89430,22731,480
32,68233,99435,27236,44537,368
38,50439,76841,16841,62042,294
42,96343,82244,48844,97845, 260
45, 289
42,76142, 572
42,03740,074
47,30142,412
16-19
9,127
9,2209,2599,2849,3029,331
9,3819,4619,5789,7179,822
9,8959,8409,7309,6079,561
9,3619,1199,0978,9528,788
8,5428,4468,4148,4608,637
8,7448,9169,1959,54310,215
10,69811,09311,25812,06112,819
13,56314,30414,16714,33814,655
15,082
} 16,610
] 16,892
} 14,442
20-24
10,694
10,91511,00311,07711,15211,238
11,31711,37511,41111,45311,519
11,69011,80711,95512,06412,062
12,03612,00411,81411,79411,700
11,68011,55211,35011,06210, 832
10,71410,61610,60310,75610,969
11,11611,40811,88912,62013,154
13,67914,06315,17815, 74816, 484
17,176
19, 205
20,911
20,933
25-44
35,862
36,30936,65436,98837,31937,662
37,98738,28838, 58938,95439,354
39,86840,38340,86141,42042,016
42, 52143,02743,65744,28844,916
45,67246,10346,49546,78647,001
47,19447,37947,44047,33747,192
47,13447,06146,96846,93246,881
46,80746,85547,08447, 62147, 994
48,388
53,927
62, 302
71, 867
45-64
21, 076
21,57322,03122,47322,93323,435
23,94724,44424,91725,38725,823
26,24926,71827,19627,67128,138
28,63029,06429,49829,93130,405
30,84931,36231,88432,39432,942
33,50634,05734,59135,10935,663
36,20836,75637,31637,86938,438
39,01539,60140, 22440, 82741, 393
41, 893
43, 583
43, 533
43,439
65 andover
6,474
6,7056,9287,1477,3637,582
7,8048,0278,2588,5088,764
9,0319,2889,5849,86710,147
10,49410,82811,18511,53811,921
12,39712,80313,20313,61714,076
14,52514,93815,38815,80616,248
16,65917,01317,31117,56517,863
18,16218,46418,80419,13419,470
19,825
21, 503
23,492
25,474
i Data for 1970 are based on the 1960 Census. The total tabulation for July 1, 1970 based on the 1970 Census is204,835,000. Data by age on this basis are not yet available.
2Two of four series projected by the cohort method and based on different assumptions with regard to completedfertility, which moves gradually toward a level of 2,775 children per 1,000 women for Series C and 2,450 children per1,000 women for Series D. For further explanation of method of projection and for additional data, see "Population Esti-mates and Projections, Current Population Reports, Series P-25, No. 448," August 6, 1970.
Note.—Data for Armed Forces overseas included beginning 1940. Includes Alaska and Hawaii beginning 1950.
Source: Department of Commerce, Bureau of the Census.
411-364 O—71-2 2 1
-15
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TABLE G-22.—Noninstitutional population and the labor force, 1929-70
Year or month
1929
19301931193219331934. .
19351936193719381939.
19401941194219431944
19451946 .1947
19471948.1949
19501951195219531954
19551956 .19571958 _1959
19601961196219631964
19651966196719681969
1970
1969: Jan .FebMarAprMay . .June -
JulyAugSept .OctNovDec
Nonin-stitu-tionalpopu-lation
Totallaborforce
(includ-ing
ArmedForces)
ArmedForces
Civilian labor force
Total
Employment
TotalAgri-cul-tural
Non-agri-cul-tural
Unem-ploy-ment
Thousands of persons 14 years of age and over
100,380101,520102,610103,660104,630
105.530106,520107,608
103.418104,527105,611
106,645107,721108,823110,601111,671
112,732113,811115,065116.363117,881
119,759121,343122,981125,154127,224
129,236131,180133,319135,562137,841
140,182
136,802136,940137,143137,337137,549137,737
137,935138,127138,317138,539138,732138,928
49,440
50 08050,68051,25051,84052,490
53,14053,74054,32054,95055,600
56,18057,53060,38064,56066,040
65.30060,97061,758
260
260260250250260
270300320340370
5401,6203,9709,020
11,410
11,4403,4501,590
49,180
49 82050 42051,00051,59052,230
52 87053,44054,00054,61055,230
55,64055,91056,41055,54054,630
53,86057,52060,168
47,630
45 48042,40038,94038,76040,890
42,26044,41046,30044,22045,750
47,52050,35053,75054,47053,960
52,82055,25057,812
10,450
10 34010 29010 17010,0909,900
10 11010,0009,8209,6909,610
9,5409,1009,2509,0808,950
8,5808,3208,256
37,180
35 14032,11028,77028,67030,990
32,15034,41036,48034,53036,140
37,98041,25044,50045,39045,010
44,24046,93049,557
Thousands of persons 16 years of age and over
60,94162,08062,903
63,85865,11765,73066,56066,993
68.07269,40969.72970,27570,921
72,14273,03173,44274,57175,830
77,17878,89380,79382.27284,239
85,903
81,71182,57982,77083,13783.08585,880
86,31886, 04684,52785,03884,92084,856
1,5911,4591,617
1,6503,1003,59?3,5453,350
3,0492,8572,8002,6362,552
2,5142,5722,8282,7382,739
2,7233,1233,4463,5353,506
3,188
3,4773,4753,5043,5163,5223,524
3,5213,5303,5433,5283,4933,440
59,35060,62161,286
62,20862,01762,13863,01563,643
65,02366,55266,92967,63968,369
69,62870,45970,61471.83373,091
74,45575,77077,34778,73780,733
82,715
78,23479,10479,26679,62179,56382,356
82,79782. 51680,98481,51081,42781,416
57.03958,34457,649
58,92059,96260,25461,18160,110
62,17163,80264,07163,03664,630
65,77865,74666,70267,76269,305
71,08872,89574,37275.92077,902
78,627
75,35876,18176,52077,07977,26478,956
79,61679,64678, 02678,67178,71678,788
7,8917,6297,656
7,1606,7266,5016,2616,206
6,4496,2835,9475,5865,565
5,4585,2004,9444,6874,523
4,3613,9793,8443.8173,606
3,462
3,1653,2853,3273,6073,8944,367
4,1553,9773,6293,5613 3222,984
49,14850,71349,990
51,76053,23953,75354,92253,903
55,72457,51758,12357,45059,065
60,31860,54661,75963,07664,782
66,72668,91570 52772.10374,296
75,165
72,19272,89673,19373,47173,37074,589
75,46075,66974,39775,11075 39575,805
1,550
4,3408,020
12,06012,83011,340
10,6109,0307,700
10,3909,480
8,1205,5602,6601,070
670
1,0402,2702,356
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502,8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752.8172,831
4,088
2,8762,9232,7462,5422,2993,400
3,1822,8692,9582,8392,7102,628
Totallabor
force aspercentof non-institu-tionalpopu-lation
Unem-ploy-ment
as per-cent ofcivilian
laborforce
Percent
56 056 758.862.363.1
61.957.257.4
3.2
8.715.923.624.921.7
20.116.914.319.017.2
14.69.94.71.91.2
1.93.93.9
Percent
58.959.459.6
59.960.460.460.260.0
60.461.060.660.460.2
60.260.259.759.659.6
59.760.160 660.761.1
61.3
59.760.360.460.560.462.4
62.662.361.161.461.261.1
3.93.85.9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.75.55.75.2
4.53.83.83.63.5
4.9
3.73.73.53.22.94.1
3.83.53.73.53.33.2
See footnotes at end of table.
222
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TABLE G-22.—Noninstitutional population and the labor force, 1929-70—Continued
Year or month
1970: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1969: Jan...Feb...Mar..Apr...May..June..
July..Aug..Sept..Oct...Nov..Dec...
1970: Jan...Feb,_.Mar..Apr...May..June..
July..Aug..Sept..OcL-Nov..Dec.-
Nonin-stitu-tionalpopu-lation
Totallaborforce
(includ-ing
ArmedForces)
ArmedForces
Civilian labor force
Total
Employment
TotalAgri-cul-tural
Non-agri-cul-tural
Unem-ploy-ment
Thousands of persons 16 years of age and over
139,099139,398139,497139,687139,884140,046
140,259140,468140,675140,886141,091141,301
84,10584,62585,00885,23184,96887,230
87,95587,24885,65686,22586,38686,165
3,3863,3423,3183,2713,2273,180
3,1543,1333,1093,0503,0393,013
80,71981,28381,69081,96081,74184,050
84,80184,11582,54783,17583,34783,152
77,31377,48977,95778,40878,35779,382
80,29179,89478,25678,91678,74178, 516
2,91,52,9943,1713,5313,7254,208
4,1183,7823,5253,3943,2262,952
74,39874,49574,78674,87774,63275,174
76,17376,11274,73075, 52275,51575, 564
3,4063,7943,7333,5523,3844,669
4,5104,2204,2924,2594,6074,636
Totallabor
force aspercentof non-institu-tionalpopu-lation
Unem-ploy-ment
as per-cent ofcivilianlaborforce
Percent
Seasonally adjusted
83,23383,67483,83383,95083,65284,028
84,31084,51784,86885,05184,87285,023
85, 59985, 59086,08786,14385,78385, 304
85,96785,81086,14086,43286,43286, 459
79,75680,19980,37980,43480,13080, 504
80,78980,98781,32581, 52381,37981,583
82,21382,24982,76982,87282, 55582,125
82,81382,67683,03183,35383,39383, 446
77,08177,52477,65077,58977,32177,741
77,93178,14278,19478,44578,52878,737
79,04178,82279,11278,92478,44978,225
78,63878,44578,42478,68678,53578, 472
3,7173,8363,7103,6613,7773,683
3,5613,6143,4983,4463,4343,435
3,4263,4993,5503,5863,6133,554
3,5193,4203,3993,2883,3333,411
73,36473,68873,94073,92873,54474,058
74,37074, 52874,69674,99975,09475,302
75,61575,32375, 56275, 33874,83674,671
75,11975,02575,02575,39875,20275, 061
2,6752,6752,7292,8452,8092,763
2,8582,8453,1313,0782,8512,846
3,1723,4273,6573,9484,1063,900
4,1754,2314,6074,6674,8584,974
60.560.860.961.060.762.3
62.762.160.961.261.261.0
4.24.74.64.34.15.6
5.35.05.25.15.55.6
3.43.33.43.53.53.4
3.53.53.8
t3.5j
3.94.24.44.85.04.7
5.05.15.55.65.86.0
Note.—Labor force data in Tables C-22 through C-25 are based on household interviews and relate to the calendarweek including the 12th of the month. For definitions of terms, area samples used, historical comparability of the data,comparability with other series, etc., see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
223
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TABLE C-23.—Civilian employment and unemployment, by sex and age, 1947-70
[Thousands of persons 16 years of age and over]
Year ormonth
1947. . .1948. . .1949. . .
1950. . .1951 . . .1952. . .1953. . .1954.. .
1955. . .1956.. .1957. . .1958. . .1959. . .
1960. . .1961 . . .1962. . .1963. . .1964.. .
1965.. . .1966. . .1967. . .1968....1969....
1970.. . .
1969: Jan. . . . .Feb . . .Mar. . . .Apr _.May.. . .June. . .
JulyAugSept....OctNov . .D e c . . .
1970: Jan. . . . .Feb. . . .Mar . .Ap r . . . .May.. . .June. . .
July. . . .AugSept....OctNov .._Dec
57,039 40,99458,344 41,72657,649.40,926
58,920 41,58059,962 41,78060,254 41,68461,181 42,43160,110 41,620
Employment
Total
Males
Total
171 42,621802 43,380071 43,357036 42,423630 43,466
778 43,904746 43,656702 44,177762 44,657305 45,474
088 46,340895 46,919372 47,479920 48,11490248,818
78,627,48,960
16-19years
20yearsandover
2,218 38,2,345 39,2,124,38,
2,186 39,2,156 39.2,106 39,2,135 40.1,985:39,
Females
20
Total
776 16,045382 16,618803 16,723
394 17,340626 18,182578 18,570296 18,750634.18,490
2.095 40,526 19,5502,164 41,216 20,4222,117 41,239 20,7142,012 40,411 20,6132,198 41,267.21,164
2,360 41,543 21,8742,314 41,342 22,0902,362 41,815 22,5252,406 42,251 23,1052,587 42.886 23,831
2,918 43,422 24,7483,252 43,668 25,9763,186 44,293 26,8933.255 44.859 27,8073,430 45,388 29,084
3,407 45,553 29,667
[,691 14.3541,683 14,9371,588
1,517.
15,137
15,8241,611 16,570-,612,16,958,584117,164,490,17,000
,548118.002,654,18,767,663 19,052,570 19,043,640 19,524
,769 20,105,793 20,296,833 20,693,849 21,257,929,21,903
2,118 22,6302,469 23,5102,497,24,3972. 525 25.2812,686,26,397
2,734 26,932
Unemployment
Total
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502.8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,831
4,088
Males
Total
1,6921,5592,572
2,2391,2211,1851,2022,344
1,8541,7111,8413,0982,420
2,4862,9972,4232,4722,205
1,9141,5511,5081,4191,403
2,235
16-19years
20yearsandover
270 1,422255 1,305352 2,219
318191205184310
274269299416398
425479407500487
479432448427441
599
1,9221,029980
1,0192,035
1,5801,4421,5412,6812,022
2,0602,5182,016
,971,718
,435,120,060993963
1,636
Females
Total
619717
1,065
1,049834698632
1,188
9981,0391,0181,5041,320
1,3661,7171,4881,5981,581
1,4521,3241,4681,3971,428
1,853
16-19years
Seasonally adjusted
77, 081 48,77, 524 48,77,650 48,77, 589 48,77, 32177, 741
!, 6121,754,8221,745
48,65448,697
48,702!,819,956
.,9499,0679,055
77,93178,142 48|78,194 48,78,445 48,94978,528 49, "'"78, 737 49,
79, 04178, 822 49;79,112 49,78,924 49,78,449 49,78, 225 48,
78,638 48,78,445 48,78, 424 48,78,686 48,78,535 48,78,472 48,
49, 204•\058
i,313i,0991,081
778
,855,6621,8991,8641,950,869
28,46945, 323 28, 770
448 45, 374 28,82828,84428,667
394 45, 303 29, 044
3,418 45,1943,431
3,'463 45;3, 403 45,3,
3, 367 45,335 29,3,334 45,4853,491 " ""3,438 45)511
29,22929, 323
45,465 29,23845,511 29,496
3, 534 45, 533 29, 4613, 502 45, 553 29,682
530 45,674 29,837524 45,534 29,764604 45, 709 29, 799432 45,667 29,825488 45, 593 29, 368
29,447
3,3,3,3,
3] 257 45; 521
3,3313,238 45,424 29,3, 377 45, 522 29,3,326 45, 538 293,439 45,5113,504
45, 524 29, 783i,7831,525822
29; 58545,365 29,603
2,5272, 570 262,612 26,2,6512,626 26|2,722
25,942», 200i, 216
26,19326, 04126, 322
,717 26,2,2,6972,695 26,2, 7972,7982,!, 785 26,
26, 51226,62626,54326,69926,663" ,897
2,777 27,2,8392,7832, 803 27;2,892 .,2,675 26,
2,710 27,2,6912,775 26!2, 740 27,2,623 26,2, 578 27
,06026,92527, 016~n, 02226, 476"1,772
,07327, 092' , 750,082,962,025
144152223
195145140123191
176209197262256
286349313383386
395404391412412
506
20yearsandover
475564841
854689559510997
823832821
1,2421,063
1,0801,3681,1751,2161,195
1,056921
1,078985
1,016
1,347
2,6752,6752,7292,8452,8092,763
2,8582,8453,1313,0782,8512,846
3,1723,4273,6573,9484,1063,900
4,1754,2314,6074,6674,8584,974
1,3571,3051,3271,3691,3691,338
1,4521,3811,5951,5461,4641,459
1,6621,8271,8652,1472,2502,201
2,3162,3622,5922,6482,6782,763
454425446448426405
449423474458466434
510525514615617568
546608675684686708
903880881921943933
1,003958
1,1211,088998
1,025
1,1521,3021,3511,5321,6331,633
1,7701,7541,9171,9641,9922,055
1,3181,3701,4021,4761,4401,425
1,4061,4641,5361,5321,3871,387
1,5101,6001,7921,8011,8561,699
1,8591,8692,0152,0192,1802,211
356392426442426406
394426445464379409
497459513549447445
432514565557601582
962978976
1,0341,0141,019
1,0121,0381,0911,0681,008978
1,0131,1411,2791,2521,4091,254
1,4271,3551,4501,4521,5791,629
Note—See Note, Table C-22.
Source: Department of Labor, Bureau of Labor Statistics.
224
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TABLE C-24.—Selected unemployment rates, 1948-70
IPercent]
Year or month
1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
1965.1966.1967.1968.1969.
1970.
1969: Jan.. .Feb..Mar. .Apr. .May..June.
July..Aug. .Sept..Oct...Nov..D e c .
1970: JanFeb..Mar. .Apr_.May..June.
July..Aug..Sept..Oct...Nov.D e c .
Allwork-
ers
3.85.9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.75.55.75.2
4.53.83.83.63.5
4.9
By sex and age
Bothsexes16-19years
9.213.4
12.28.28.57.6
12.6
11.011.111.615.914.6
14.716.814.717.216.2
14.812.812.812.712.2
15.3
Men20
yearsandover
3.25.4
4.72.52.42.54.9
3.83.43.66.24.7
4.75.74.64.53.9
3.22.52.32.22.1
3.5
Wom-en 20yearsandover
3.65.3
5.14.03.22.95.5
4.44.24.16.15.2
5.16.35.45.45.2
4.53.84.23.83.7
4.8
By color
White
3.55.6
4.93.12.82.75.0
3.93.63.86.14.8
4.96.04.95.04.6
4.13.43.43.23.1
Negroand
otherraces
5.98.9
9.05.35.44.59.9
8.78.37.9
12.610.7
10.212.410.910.89.6
8.17.37.46.76.4
4.5 8.2
By selected groups
Expe-riencedwageand
salaryworkers
3.76.2
5.63.22.92.66.2
4.84.44.67.25.7
5.76.85.65.55.0
4.33.53.63.43.3
4.8
Mar-ried
men*
3.5
4.61.51.41.74.0
2.82.62.85.13.6
3.74.63.63.42.8
2.41.91.81.61.5
2.6
Full-time
work-ers 2
5.4
5.02.62.5
5.2
3.83.74.07.2
6.7
5.44.8
4.23.43.53.13.1
4.5
Blue-collarwork-ers 3
4.28.0
7.23.93.63.47.2
5.85.16.2
10.27.6
7.89.27.47.36.3
5.34.24.44.13.9
6.2
Laborforce
time lost*
Seasonally adjusted
3.43.33.43.53.53.4
3.53.53.83.83.53.5
3.94.24.44.85.04.7
5.05.15.55.65.86.0
12.012.012.612.712.411.7
12.212.312.912.911.811.8
13.813.413.915.714.314.6
13.915.916.817.117.517.5
2.01.91.92.02.02.0
2.22.12.42.32.12.2
2.52.82.93.23.53.5
3.73.74.04.14.24.3
3.63.63.63.83.73.7
3.73.83.93.83.63.5
3.64.14.54.45.14.5
5.04.85.15.15.55.7
3.03.03.13.13.13.0
3.23.23.53.53.23.2
3.63.84.14.34.64.2
4.74.85.15.25.55.5
6.25.96.17.06.46.8
6.56.46.76.66.25.7
6.37.07.18.78.08.7
8.38.49.09.38.89.3
3.23.13.13.33.23.2
3.33.33.63.63.43.4
3.63.94.24.24.74.6
5.15.05.45.75.65.9
1.41.41.41.51.51.5
1.61.51.71.61.51.7
1.82.02.22.42.62.5
2.72.82.93.13.23.3
3.02.93.03.23.13.1
3.13.13.33.13.13.2
3.43.74.04.44.74.3
4.64.75.05.05.55.8
3.83.63.74.03.83.7
3.83.84.44.24.24.3
4.65.05.25.76.26.3
6.67.07.57.27.37.7
5.15.38.16.6
6.78.06.76.45.8
5.04.24.24.03.9
5.4
3.73.73.73.83.83.8
4.04.04.34.34.03.9
4.24.54.85.15.44.9
5.45.56.06.26.26.3
* Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March.2 Data for 1949-61 are for May.3 Includes craftsmen, operatives, and nonfarm laborers. Data for 1948-57 are based on data for January, April, July,
and October.* Man-hours lost by the unemployed and persons on part time for economic reasons as a percent of potentially available
labor force man-hours.
Note.-See Note, Table C-22.
Source: Department of Labor, Bureau of Labor Statistics.
225
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TABLE C-25.— Unemployment by duration, 1947-70
194719481949
19501951195?19531954
19551956195719581959
I9601961196?19631964
1965196619671968.1969
1970
1969*
1970-
JanFebMar .Apr _MayJune
JulyAugSeptOctNovDec
JanFebMarApr .MayJune
JulyAugSeptOctNovDec
Year or monthTotal un-employ-
ment Less than5 weeks
Duration of unemployment
5-14weeks
15-26weeks
27 weeksand over
Thousands of persons 16 years of age and over
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502,8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,831
4,088
1,2101,3001,756
1,4501.177,13514?
,605
33541?
,408,753,585
,719,806,663,751,697
1,628,573,634,594.629
2,137
704669
1,194
1,055574516482
1,116
815805891
1,3961,114
1,1761,3761,1341,2311,117
983779893810827
1,289
234193428
425166148132495
366301321785469
503728534535491
404287271256242
427
164116256
3571378478
317
336232239667571
454804585553482
351239177156133
235
Seasonally adjusted *
2,6752,6752,7292,3452,8092,763
2,8582,8453,1313,0782,8512,846
3,1723,4273,6573,9484,1063,900
4,1754,2314,6074,6674,8584,974
1,507,461,625,711,720,578
1,656,646
1,756,882
1,5581,515
1,7561,9731,9952,2952,2191,961
2,0612,2062,3312,4472,2892,299
767833111748639812
824854995882912893
9141,0161,1541,0751,2141,303
1,3341,3201,5011,5071,7561,591
203238240246263255
233250240233249272
276306363372352450
470479501496550697
121113119135137130
167135152130140120
133159182197260235
241257291249320348
i Because of independent seasonal adjustment of the various series, detail will not add to totals.
Note.—See Note, Table C-22.
Source: Department of Labor, Bureau of Labor Statistics.
226
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-26.— Unemployment insurance programs, selected data, 1940-70
Year or month
All programs
Cov-eredem-ploy-
ment1
Insuredunem-ploy-ment
(weeklyaver-
age) 2 3
Totalbenefits
paid(mil-lions
of dol-lars) 2 *
State programs
nsuredunem-ploy-
ments
Initialclaims
Ex-haus-tions «
Insured unem-ployment as per-cent of covered
employment
Unad-justed
Season-ally ad-justed
Benefits paid
Total(mil-
lions ofdol-
lars) <
Aver-age
weeklycheck(dol-lars) «
1940194119421943194419451946194719481949195019511952195319541955.1956195719581959196019611962196319641965.19661967196819691970 v1969: Jan...
Feb..Mar..Apr..May..June.July..Aug..Sept..Oct..Nov..Dec.
1970: Jan...Feb..Mar..Apr..May..June.July..Aug..Sept..Oct..Nov..Dec p.
Thousands Weekly average, thousands Percent
24,29128,13630,81932,41931,71430,08731,85633,87634,64633,09834,30836,33437,00638,07236,62240,01842,75143,43644,41145,72846,33446,26647,77648,43449.63751,58054.73956,34257,976
*60,003
*57, 88057, 898>58,476*>59, 274?59,838*60,941*60,938*61,276*61,087*>60,755P60, 603»61,070-58, 96058,848
8 59,167
1,331842661149111720
2,8041,7931,4462,4741,6051,0001,0691,0672,0511,3991,3231,5713,2692,0992,0712,9941,946
U.9731,7531,4501,1291,2701,1871,1771,9501,5851,5511,3851,163
971912
1,0891,016
903930
1,1061,4651,9581,9881,9171,8851,7781,6961,8971,8551,7461,8862,2332,615
534.7358.8350.480.567.2
574.92,878. 51,785.51,328.72,269.81,467.6
862.91,043. 51,050.62,291.81,560.21,540.61,913.04,290.62.854.33, 022. 84,358.13,145.13,025.92,749.22.360.41,890.92,220.02,191.02,298.63,960.0
264.6250.8242.6214.9164.9145.7171.8169.7148.3152.2149.1231.2320.8331.4355.1345.6315.5315.4340.8340.5328.2332.0321.8392.5
1,282814649147105589
1,295997980
1,9731,513
9691,044
9901,8701,2651,2151,4462,5261,6841,9082,2901,7831,8061,6051,3281,0611,2051,1111,1011,8101,4911,4591,3001,090
906852
1,021948840864
1,0301,3751,8471,8741,7981,7701,6671,5831,7611,7101,6071,7242,0172,367
2141641223629
116189187200340236208215218304226111270369111331350302
7 298268232203226201200295275219173167144162246172146167213289355290245298246248333248244278335398
503021425
38242037361618153425202350333146323026211517161624161717191717151413131415182020232425242626262628
5.63.02.2.5.4
2.14.33.13.06.24.62.82.92.85.23.53.23.66.44.44.85.64.44.33.83.02.32.52.22.13.43.02.92.62.21.81.72.01.81.61.62.02.73.63.63.53.43.23.03.33.23.03.23.74.4
2.12.12.12.12.02.12.22.22.22.22.32.42.52.62.83.23.63.73.63.74.14.44.44.0
518.7344.3344.179.662.4
445.91,094.9
775.1789.9
1,736.01,373.1
840.4998.2962.2
2,026.91,350.31,380.71,733.93,512.72,279.02,726.73,422.72,675.42,774.72, 522.12,166. 01,771.32,092. 32,031.62,127.93,700.0
246.1234.2226.5200.1153.0135.0159.2156.7136.2139.5136.9213.6299.5310.8331.1321.5293.6292.3314.2312.3300.2304.2298.7369.8
10.5611.0612.6613.8415.9018.7718.5017.8319.0320.4820.7621.0922.7923.5824.9325.0427.0228.1730.5830.4132.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.1046.1646.8046.7046.0345.1444.8345.3046.1645.7046.2546.4747.4248.5149.1148.9349.2049.4649.6849.5750.6350.6451.4553.0153.64
1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Railroad RetirementBoard) programs. Beginning October 1958, also includes the UCX program (unemployment compensation for ex-service-men).
2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), andSRA (Servicemen's Readjustment Act, September 1944-September 1951) programs. Also includes Federal and Stateprograms for temporary extension of benefits from June 1958 through June 1962, expiration date of program.
3 Covered workers who have completed at least 1 week of unemployment.4 Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual data are net
amounts and monthly data are gross amounts.* Individuals receiving final payments in benefit year.• For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.8 Preliminary; March 1970 is latest month for which data are available for all programs combined. Workers covered
by State programs account for about 88 percent of the total.
Source: Department of Labor, Manpower Administration.
227
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-27.—Wage and salary workers in nonagricultural establishments, 1929—70
[All employees; thousands of persons]
Year ormonth
Totalwageand
salarywork-
ers
Manufacturing
TotalDura-
blegoods
Non-dura-ble
goods
Min-ing
Con-tractcon-
struc-tion
Trans-porta-tionandpub-lic
utili-ties
Whole-saleand
retailtrade
Fi-nance,insur-ance,andreal
estate
Serv-ices
Government
Fed- Stateandlocal
1929..
1930..1931..1932..1933..1934..
1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944..
1945..1946-1947..1948..1949..
1950..1951-1952..1953-1954-
1955..1956..1957..1958-1959..
1960..1961..1962..1963..1964..
1965..1966..1967..1968..1969.
31,339
29,42426,64923,62823,71125,953
27,05329,08231,02629.20930,618
32,37636,55440,12542,45241,883
40,39441,67443,88144,89143,778
45,22247,84948,82550,23249,022
50,67552,40852,89451,36353,313
54,23454,04255,59656,70258,331
60,81563,95565,85767,91570,274
1970 v 70,669
10,702
9,5628,1706,9317,3978,501
9,0699,82710,7949,44010,278
10,98513,19215,28017,60217,328
15,52414,70315,54515, 58214,441
15,24116,39316,63217,54916,314
16,88217,24317,17415,94516,675
16,79616,32616,85316,99517,274
18,06219,21419,44719,78120,169
19,401
4,715
5,3636,9688,823
11,08410,856
9,0747,7428,3858,3267,489
8,0949,0899,349
10,1109,129
9,5419,8349,8568,8309,373
9,4599,0709,4809,6169,816
10,40611,28411,43911,62611,893
11,210
5,564
5,6226,2256,4586,5186,472
6,4506,9627,1597,2566,953
7,1477,3047,2847,4387,185
7,3407,4097,3197,1167,303
7,3367,2567,3737,3807,458
7,6567,9308,0088,1558,277
8,190
1,087
1,009873731744883
897946
1,015891854
925957992925892
836862955994930
901929898866791
792822828751732
712672650635634
632627613606619
622
1,497
1,3721,214970809862
9121,1451,1121,0551,150
1,2941,7902,1701,5671,094
1,1321,6611,9822,1692,165
2,3332,6032,6342,6232,612
2,8022,9992,9232,7782,960
2,8852,8162,9022,9633,050
3,1863,2753,2083,2853,437
3,346
3,916
3,6853,2542,8162,6722,750
2,7862,9733,1342,8632,936
3,0383,2743,4603,6473,829
3,9064,0614,1664,1894,001
4,0344,2264,2484,2904,084
4,1414,2444,2413,9764,011
4,0043,9033,9063,9033,951
4,0364,1514,2614,3104,431
4,499
6,123
5,7975,2844,6834,7555,281
5,4315,8096,2656,1796,426
6,7507,2107,1186,9827,058
7,3148,3768,9559,2729,264
9,3869,74210,00410,24710,235
10,53510,85810,88610,75011,127
11,39111,33711,56611,77812,160
12,71613,24513,60614,08414,645
14,947
1,509
1,4751,4071,3411,2951,319
1,3351,3881,4321,4251,462
1,5021,5491,5381,5021,476
1,4971,6971,7541,8291,857
1,9191,9912,0692,1462,234
2,3352,4292,4772,5192,594
2,6692,7312,8002,8772,957
3,0233,1003,2253,3823,557
3,679
3,440
3,3763,1832,9312,8733,058
3,1423,3263,5183,4733,517
3,6813,9214,0844,1484,163
4,2414,7195,0505,2065,264
5,3825,5765,7305,8676,002
6,2746,5366,7496,8067,130
7,4237,6648,0288,3258,709
9,0879,55110,09910,62311,211
11,577
533
526560559565652
753826833829905
9961,3402,2132,9052,928
2,8082,2541,8921,8631,908
1,9282,3022,4202,3052,188
2,1872,2092,2172,1912,233
2,2702,2792,3402,3582,348
2,3782,5642,7192,7372,758
2,707
2,532
2,6222,7042,6662,6012,647
2,7282,8422,9233,0543,090
3,2063,3203,2703,1743,116
3,1373,3413,5823,7873,948
4,0984,0874,1884,3404,563
4,7275,0695,3995,6485,850
6,0836,3156,5506,8687.248
7,6968,2278,6799,1099,446
9,893
See footnotes at end of table.
228
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TABLE G-27.—Wage and salary workers in nonagricultural establishments,1929-70—Continued
[All employees; thousands of persons]
Year ormonth
1968: Jan.. .Feb...Mar. .Apr...May..June..
July. .Aug . .Sept..Oct...Nov. .Dec...
1969: Jan.. .Feb...Mar. .Apr...May..June..
July..Aug. .Sept..Oct...Nov..Dec...
1970: Jan...Feb...Mar_.Apr...May..June..
July..Aug..Sept.Oct...
Dec p.
Totalwageand
salarywork-
ers
Manufacturing
66,75167,16667,30667,50067,56767,809
67,96268,15268,28868, 54768,80569,039
69,35269,60569,82769,99270,17270,347
70,40070,49770,56770,83670,80870,842
70,99271,13571,24271,14970,83970,629
70,58770,41470,53170,18270, 07670, 364
TotalDura-
blegoods
Non-dura-ble
goods
Min-ing
Con-tractcon-
struc-tion
Trans-porta-tionandpub-lic
utili-ties
Whole-saleand
retailtrade
Fi-nance,insur-ance,andreal
estate
Serv-ices
Government
Fed-eral
Stateandlocal
Seasonally adjusted
19,61219,62719,63719,70419,74619,793
19,78819,81019,83819,86419,93920,010
20,02320,09220,17120,18220,19520,248
20,24720,24620,25220,23320,08220,082
20,01819,93719,94419,79519,57219,477
19,40219,27119,28518,68418,54718,920
11,55611,54311,53911,59211,61011,621
11,63311,62911,63911,65211,71811,769
11,81811,84311,89311,90311,91511,957
11,95511,95011,96811,96511,78211,773
11,67911,62511,64811,52911,38611,286
11,21711,13411,14510,60210,46010,836
8,0568,0848,0988,1128,1368,172
8,1558,1818,1998,2128,2218,241
8,2058,2498,2788,2798,2808,291
8,2928,2968,2848,2688,3008,309
8,3398,3128,2968,2668,1868,191
8,1858,1378,1408,0828,0878,084
596599599614611612
615615616566615616
617619616615614614
618621623622624627
625626626622620620
618619621621626625
3,1093,2783,2903,2963,2693,250
3,2753,2803,3003,3363,3353,386
3,3913,4103,4223.4253,4413,442
3,4393,4203,4363,4453,4733,496
3,3943,4663,4813,4263,3513,324
3,3143,3053,2623,2783,3003,308
4,2854,3014,3034,2984,2484,293
4,3074,3184,3294,3334,3484,355
4,3594,3704,3854,4144,4204,445
4,4544,4574,4594,4634,4644,469
4,5074,4964,5024,4684,4784,511
4,5394,5204,5114,5094,4944,443
13,78613,88713,93813,98714,01614,048
14,09714,15914,21514,28014,30814,255
14,41214,46614,49514,54614,60614,647
14,67314,71314,7^914,82414,84814,750
14,93814,98714,98414,99114,96814,927
14,93314,91214,96115,01114,93114,827
3,3143,3273,3363,3473,3583,363
3,3753,3983,4123,4363,4513,463
3,4873,5003,5143,5293,5403,556
3,5673,5803,5843,5963,6113,626
3,6483,6523,6653,6733,6773,679
3,6763,6703,6843,6963,7113,720
10,39810,45510,48010,49410,52910, 583
10,61410,67510,69310,77810,85910,925
10,98611,04711,11211,14611,17011,174
11,20511,24811,28911,36111,38311,431
11,47211,53011,53711,56411,57211,532
11,51411,52111,62211,66511,69511,718
2,7212,7212,7212,7262,7262,771
8,9338,9719,0029,0349,0649,096
2,772 9,1192,740 9,1572,719 I 9,1662,713 9,2412,7122,726
2,7632,7642,7592,7612,7572,782
2,7652,7492,7472,7392,7302,721
2,7172,7182,7662,8382,7682,689
2,6682,6592,6492,6542,6612,652
9,2389,303
9,3149,3379,3539,3749,4299,439
9,4329,4639,4389,5539,5939,640
9,6739,7239,7379,7729,8339,870
9,9239,9379,936
10,06410,11110,151
Note.—Data in Tables C-27 through C-33 are based on reports from employing establishments and relate to full- andpart-time wage and salary workers in nonagricultural establishments who worked during, or received pay for, any part ofthe pay period which includes the, 12th of the month.
Not comparable with labor force data (Tables C-22 through C-25), which include proprietors, self-employed persons,domestic servants, and unpaid family workers, and which count persons as employed when they are not at work becauseof industrial disputes, bad weather, etc.
For description and details of the various establishment data, see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
229
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G-28.—-Average
Year ormonth
1929
1930193119321933.19341935 .1936193719381939
194019411942194319441945194619471948194919501951195219531954 . . . . . . .1955195619571 9 5 8 . . . . . . .1959196019611962. . . . . - -1963___1964___196519661967196819691970 v
1969:Jan..Feb. .Mar..Apr..May.June-July.Aug.Sept.Oct..Nov.Dec.
1970:Jan..Feb..Mar.Apr..May.June.July.Aug.Sept.Oct..NOVPDec p
Totalnon-agri-
culturalprivate
40.340.039.4
39.839.939.939.639.139.639.338.838.539.0
38.638.638.738.838.738.838.638.037.837.7
37.2
joeekly hours of
Manufacturing
Total
44.2
42.140.538.338.134.636.639.238.635.637.7
38.140.643.145.045.243.540.340.440.039.1
40.540.640.740.539.640.740.439.839.240.3
39.739.840.440.540.741.241.340.640.740.6
39.8
Durablegoods
32.534.733.837.240.939.934.937.9
39.242.045.046.546.544.040.440.540.439.4
41.141.541.541.240.141.341.040.339.540.7
40.140.340.941.141.442.042.141.241.441.3
40.3
Non-durablegoods
41.940.035.136.137.737.436.137.4
37.038.940.342.543.142.340.540.239.638.9
39.739.539.739.639.039.939.639.238.839.7
39.239.339.639.639.740.140.239.739.839.7
39.1
work i
Mining
40.839.436.3
37.938.438.638.838.640.740.840.138.940.5
40.440.540.941.641.942.342.742.642.643.0
42.6
n private nonagricultural indus
Con-tractcon-
struc-tion
38.238.137.7
37.438.138.937.937.237.137.537.036.837.0
36.736.937.037.337.237.437.637.737.437.9
37.4
Trans-porta-tionand
publicutilities
41.141.341.240.540.640.7
40.5
Whole-saletrade
41.642.943.142.341.8
41.341.141.442.343.042.841.641.141.040.8
40.740.840.740.640.540.740.540.340.240.6
40.540.540.640.640.640.8^0.740.340.140.2
40.0
Retailtrade
43.4
43.242.841.840.941.040.941.3
140.340.240.4
40.440.439.839.139.239.038.638.138.138.2
38.037.637.437.337.036.635.935.334.734.2
33.8
fries, 1929-70
Finance,insur-ance,andreal
estate
37.937.937.8
37.737.737.837.737.637.636.936.737.137.3
37.236.937.337.537.337.237.337.037.037.1
36.8
Serv-ices
36.035.935.535.134.734.7
34.5
Seasonally adjusted
37.937.537.737.837.837.737.737.737.737.537.637.637.537.337.437.237.137.237.337.236.836.937.037.0
40.640.140.940.840.740.740.640.640.740.540.540.740.339.940.240.039.839.840.139.839.339.439.639.7
41.441.041.541.441.441.341.341.241.441.241.141.341.040.540.740.440.340.440.740.339.839.940.040.1
39.839.139.939.839.839.7
39.839.739.739.639.639.839.639.339.439.439.139.039.339.138.638.938.939.0
43.243.242.943.543.341.842.643.143.143.043.543.242.743.443.243.142.642.442.542.242.042.742.941.8
37.737.937.937.938.237.637.637.938.137.638.138.236.738.238.038.338.137.637.437.335.136.937.138.2
40.940.840.840.840.740.640.740.540.840.940.740.840.740.740.640.240.640.640.740.640.540.540.440.2
40.140.140.240.240.240.040.040.340.340.340.340.540.340.240.140.140.139.940.039.939.739.939.839.9
34.434.234.434.234.334.334.234.234.134.034.033.833.833.733.833.733.933.833.933.933.833.833.933.6
37.237.237.137.137.137.137.137.037.137.037.236.936.937.037.036.936.836.736.836.936.736.736.836.4
34.534.434.634.634.734.735.035.034.734.634.734.634.434.434.734.434.534.434.634.734.534.434.434.3
i Beginning 1947, data include eating and drinking places.Note.—Hours and earnings data in Tables C-28 through C-33 relate to production workers in manufacturing and mining,
to construction workers in contract construction, and generally, to nonsupervisory employees in other industries. SeeTable C-31 for unadjusted weekly hours in manufacturing. See also Note, Table C-27.
Source: Department of Labor, Bureau of Labor Statistics.
230
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-29.- - Average gross hourly earnings in private nonagricultural industries and in agriculture,1929-70
Year or month
19291930..1931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970P
1969: JanFeb .MarAprMay.. . .JuneJuly . . . .AugSept..-_OctNov...Dec
1970: JanFeb . .MarAprMay.. . .JuneJuly.._.AugSept.-. .OctNov P ._ .Decp.--
Totalnon-agri-cul-tural
private
$1 1311.2251.2751 3351 451 521 611.651 711 801 891.952.022 092 142.222.282.362.452.562.682.853.043.222.952.962.972.993.023.043.053.063.113.123.133.123.133.153.173.183.203.213.233.253.293.283.293.30
Manufactur
Total
$0. 560.546.509.441.437.526.544.550.617.620.627.655.726.851.957
1.0111.0161 0751 2171 3281 3781 4401 561.651.741.781.861.952.052.112.192.262.322.392.462.532.612.722.833.013.193.363.123.123.133.153.163.183.193.203.243.253.263.293.293.293.313.323.343.363.373.373.423.373.393.46
Dur-able
goods
$0 492.467.550571580667
.679
.691716799937
1.0481.1051.0991 1441 2781 3951 4531 5191 651.751.861.901 992 082 192.262.362 432 492.562.632.712.792.903.003.193.393.563.313.313.323.343.353.373.383.393.443.453.463.493.493.483.513.523.553.573.573.583.633.563.583.68
ng
Non-dur-able
goods
$0,412.419.505
520.519.566.572.571590627709
.787
.844
.886995
1 1451 2501 2951 3471 441.511.581.621 671.771.851.911.982 052.112.172.222.292.362.452.572.742.913.082.832.842.852.872.882.892.922.922.952.962.972.993.013.013.033.043.053.063.093.083.143.133.153.17
Mining
$1 4691 6641 7171 7721.932.012.142.142.202.332.462.472.562.612.642.702.752.812.923.053.193.353.603.843.513.533.543.563.583.563.593.603.653.693.723.713.763.773.783.793.803.823.823.843.893.923.953.94
Con-tractcon-
struc-tion
$1 5411 7131 7921.8632.022.132.282.392.452.572.712.822.933.083.203.313.413.553.703.894.114.414.785.224.594.574.644.654.724.734.764.804.924.964.975.035.075.065.065.095.105.135.205.305.365.425.435.42
Trans-porta-tionand
publicutili-ties
$2.883.033.113.243.423.633.853.523.553.543.583.613.623.653.673.713.703.723.723.733.753.753.753.793.843.873.903.933.943.953.98
Whole-sale
trade
$0,610.628.658.674.688.711.763.828.898.948.990
1.1071.2201.3081.3601.4271.521.611.701.761.831.942.022.092.182.242.312.372.452.522.612.732.883.053.233.443.123.163.163.183.203.243.233.243.283.293.333.343.353.383.403.403.413.423.423.453.473.493.523.53
Retailtrade
$0.484494
.518
.559
.606
.653
.699
.7972 838
.901
.951
.9831.061.091.161.201.251.301.371.421 471.521.561.631 681.751.821.912.012.162.302.442.252.262.272.282.292.302.302.302.332.352.362.352.382.402.412.412.432.432.442.442.482.482.492.47
Fi-nance,insur-ance,andreal
estate
$1 1401 2001 2601 3401 451.511.581.651 701 781.841.891 952 022 092.172 252.302.392.472.582.752.923.072.872.902.902.882.902.932.912.922.932.952.992.983.023.043.053.033.043.043.063.083.093.123.143.14
Serv-ices
$1.942.052.172.292.432.632.842.532.572.572.582.602.612.632.622.672.692.722.722.742.772.792.792.802.812.832.852.902.912.942.96
Agri-cul-
ture i
$0,241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.818.834.856.880.904.951
1.031.121.211.331.421.38
1.21
1.29
1.37
1.50
1.29
1.38
1.46
1 Weighted average of all farm wage rates on a per hour basis.
2 Beginning 1947, data include eating and drinking places.
Note—See Note, Tables C-27 and C-28.
Sources: Department of Labor (Bureau of Labor Statistics) and Department of Agriculture.
231
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-30.—Average gross weekly earnings in private nonagricultural industries, 1929-70
Year ormonth
Totalnon-
igricul-tural
private
Manufacturing
Total urablegoods
Non-lurablegoods
Mining
lontractcon-
struc-tion
Trans-porta-
tion andpublicutili-ties
Whole-sale
trade
Retailtrade
Fin-ance,insur-ance,
and realestate
Serv-ices
1929
19301931193219331934 .1935 . ....1936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970 v
$45. 5849.0050.24
53.1357.8660.6563.7664.5267.7270.7473.3375.0878.78
80.6782.6085.9188.4691.3395.0698.82101.84107.73114.61
119.78
1969: Jan . . .Feb.. .Mar...Apr . . .May...June..
July...Aug...Sept..Oct..._Nov...D e c .
1970: Jan. . .Feb..Mar..Apr . . .May..June..
Ju ly-Aug._Sept..Oct.. .NOV r>_Dec p.
110.33110.11111.38112.13113.55115.22
115.90116.59117.87117.31117.38117.62
116.12116.55117.92117.34118.40120.05
121.4122.20121.73121.36121.40122.43
$24.76
23.0020.6-.16.8916.6518.2019.9121.5623.8222.0723.64
24.9629. T836.6843.0745.7044.2043.3249.1753.1253.88
58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26
89.7292.3496.5699.63102.97107. 53112.34114.90122.51129. 51
133.73
126. 05124.80127.39127.58128.61130.06
128.88129.92132.84132.28132.36134.89
131.93130.94132.40131.80132.93134.40
134.46134.13135.43133.45134.58138.40
$26.84
24.4220.9815.9916.2018.5921.2423.7226.6123.7026.19
28.0733.5642.1748.7351.38^8.3646.2251.7656.3657.25
62.4368.4872.6376.6376.1982.1985.2888.2689.2796.05
97.44100.35104.70108.09112.19117.18122. 09123.60132.07140.01
143.47
136.04135.05137.45137.61138.69139.86
138.24139. 33143.45142.83142. 55145.53
142.04140.24142. 51141.50143.07144.94
143.87143.9;145. 56142.76143.56149.04
$22.47
21.4020.0917.2616.7617.7318.7719.5721.1720.6521.36
21.8324.3928.5733.4536.3837.4840.3046.0349.5050.38
53.4856.8859.9562.5763.1866.6370.0972.5274.1178.61
80.3682.9285.9387.9190.9194.6498.49102. 03109.05115.53
120.43
111.50110.48113.15113.08114.34115.31
116.22116.51118.00117.51118.21119.60
117.99117.69118.78118.56118.95119.95
121.44121.04122.15122.07123.17124.26
$26.7525.1925.4425.38
$59.9465.5662.33
67.1674.1177.5983.0382.6089.5495.0698.6596.08103.68
105.44106.92110.43114.40117.74123. 52130.24135. 89142.71154.80
163. 58
150.23149.67149.03154.86155.37150. 59
154.37156.96158.41159.78161.08160.64
159.05160.60160.27163.35162.26163.88
163.88163.97164.55168.56168.67165.09
$58. 8765.2767.56
69.6876.9682. F686.4183.9190.9096.38100.27103.78108.41
113.04118.08122.47127.19132. 06138.38146.26154.95164.93181.16
195.23
167.99166.81172.14174.38180.30181.63
184.21187.68193. 36189.97184.39189.13
181.00186.21188.23192.91194.31196.99
200.20204.05194.03203.79196.57203.79
118.37125.14128.13131.22138.85147. 74
155.93
143.26144.13143.02144.63146.21147.33
150.02149.74152.11151.70152.15151.78
151.07151.88150.75149.25153.12156.29
159.06159.51159.95159.96160.37160.00
26.9628.3628.5128.76
29.3631.3634.2837.9940.7642.3746.0550.1453.6355.49
58.0862.0265.5369.0271.2874.4878.5781.4184.0288.51
90.7293.5696.2299.47
102. 31106. 49111.11116.06122.31129. 85
137.60
124.80126.08126.72127.20128.00129.92
130.17131.22132.18132.59133.87135.94
134.67135.20136.00135.66136. 06136.80
137.83138.35137.76139.25139.74141.55
$21.01
21.3422.1723.3724.7926.7728.5932.9233.7736.2238.42
39.7142.8243.3845.3647.0448.7550.1852.2054.1056.15
57.7658.6660.9662.6664.7566.6168.5770.9574.9578.66
82.47
76.5076.3977.1877.0677.6379.58
80.9681.1979.6979.2079.3080.14
79.4979.9280.4980.2581.4182.86
85.1685.4084.0783.0883.4283.73
$43. 2145.4847.63
50.5254.6757.0859.5762.0463.9265.6867.5370.1272.74
75.1477.1280.9484.3885.7988.9192.1395.46
101.75108.33
112.98
106.76107.88107. 59106.85107.30108.70
107.96108.04108.41109.45111.23110.26
111.44112.48112.85111.81111.57111.57
112.61113.65113.09114.82115.55114.61
$69.8473.6077.0480.3884.3291.26
97.98
87.0388.1588.9289.0189.7090.83
92.8492.4992.3892.8194.1194.11
93.9895.0196.8195.7096.0496.95
98.7799.7599.7699.81
100.84101. 53
i Beginning 1947, data include eating and drinking places.
Note.—See Note, Tables C-27 and C-28.
Source: Department of Labor, Bureau of Labor Statistics.
232
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-31.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939—70
Year or month
1939
1940194119421943194419451946194719481949
195019511952195319541955195619571958. . .1959
19601961196219631964196519661967 .19681969
1970 P .
1969: JanFebMarApr.MayJune _
JulyAugSeptOctNovDec
1970: JanFebMarAprMayJune
July . .AugSeptOctNOVPDec p
Al1 manufacturing industries
Averageweeklyhours
Gross
37.7
38 140.643 145 045.243.540 340 440 039 1
40 540 640.740.539 640 740.439.839.240.3
39.739.840.440.540.741.241 340.640.740.6
39.8
40.440.040 740.540.740.9
40.440.641.040.740.641.0
40.139.840.039.739.840.0
39.939.839.639.639.740.0
Ex-clud-
ingover-time
37 637.537.237.6
37.337.437.637 737.637.637 437.237.137.0
36.8
36 836.737 237.037 137.2
36.936.937.037.037.037.4
36.936.837.036.936.936.9
37.036.836.536.736.937.3
Average hourlyearnings
Gross
$0.627
.655
.726
.851
.9571.0111.0161.0751.2171 3281.378
1.4401 561.651.741 781 861.952.052.112.19
2.262.322.392.462.532.612.722.833.013.19
3.36
3.123.123.133.153.163.18
3.193.203.243.253.263.29
3.293.293.313.323.343.36
3.373.373.423.373.393.46
Ex-clud-
ingover-time
$0.691.793.881.933
3.9491.0351.181.291.34
1.391.511.591.681.731.791.891.992.052.12
2.202.252.312.372.442.512.592.722.883.06
3.24
2.993.003.003.023.033.04
3.063.063.093.113.123.15
3.173.173.193.213.223.23
3.253.253.293.263.283.35
Adjustedhourly
earnings,(1967=
100)i
24.5
2 25.42 28.52 31.02 33.22 34.62 38.3
44.048.150.3
51.956.058.962.164 166.169.673.276.278.6
81.283.685.787.890.092.495.5
100.0106.1112.3
119.6
109.8110.2110.4111.0111.5111.7
112.4112.9113.7114.2114.8115.6
116.3116.7117.4118.0118.8119.1
119.7120.3121.5121.0121.7124.4
Durable goods manufac-turing industries
Averageweeklyhours
Gross
37.9
39.242.045.046.546.544.040.440.540 439 4
41 141 541.541.240 141 341.040.339.540.7
40.140.340.941.141.442.042 141.241.441.3
40.3
41.140.841.441.241.441.5
40.941.141.741.441.241.7
40.746.340.640.240.340.6
40.340.240.140.140.140.5
Ex-clud-
ingover-time
38.037.937.638.0
37.738.038.138.238.138.137 837.737.637.5
37.4
37.437.237.737.637.737.6
37.337.337.537.537.537.9
37.437.337.537.437.437.4
37.437.337.137.337.537.8
Averagehourly
earnings
Gross
$0.691
.716
.799937
1.0481.1051.0991.1441.2781 3951 453
1.5191 651.751.861 901 992.082.192.262.36
2.432.492.562.632.712.792.903.003.193.39
3.56
3.313.313.323.343.353.37
3.383.393.443.453.463.49
3.493.483.513.523.553.57
3.573.583.633.563.583.68
Ex-clud-
ingover-time
$0.76287?
.9661.019
3 1.0311.1111.241 351.42
1.461 591.681.791 841 912.012.122.212.28
2.362.422.482.542.602.672.762.883.053.24
3.44
3.173.183.183.203.203.22
3.243.243.283.29
'3.313.34
3.363.363.383.403.423.44
3.453.463.493.443.463.56
Nondurable goods manu-facturing industries
Averageweeklyhours
Gross
37.4
37.038.940.342.543.142.340.540.239.638.9
39.739 539.739.639 039.939.639.238, 839.7
39.239,339.639.639 740,140.239.739 839.7
39.1
39.438.939.739,439.739.9
39,839.940.039.739.840.0
39.239.139.239.039.039.2
39.339.338.939.039.139.2
Ex-clud-
ingover-time
37.237.036.637.0
36.736.836.936.936.836.936.836.636.536.3
36.1
36.135.936.536.236.436.5
36.436.436.336.236.436.6
36.136.136.236.236.136.2
36.436.235.836.036.236.4
Averagehourly
earnings
Gross
$0.571
.590
.627709
.787
.844
.886
.9951.1451 2501 295
1.3471 441.511.581 621 671.771.851,911.98
? 05? ,11?. 172.22? ?9?,362.45?.57? 742.91
3.08
2.832.842.852.872.882.89
?.922.922.952.96?.972.99
3.013,013.033 043 053.06
3.093.083.143.133 153.17
Ex-clud-
ingover-time
$0.613fiR4
.748
.7983.841.96211?1?6
314046
.5358fi?
,7?,80
1.861.92
1.992.052.09?.15?.?12.27? 352.472.632.79
2.97
2.722.732.742.762.772.77
2.802.802.822.842.852.87
2.902.902.922.932.942.95
2.982.973.023.013.043.06
1 Earnings in current prices adjusted to exclude the effects of overtime and interindustry shifts.2 Annual average not available; April used.3 Eleven-month average; August 1945 excluded because of VJ Day holiday period.Note—See Note, Tables C-27 and C-28.See Table C-28 for seasonally adjusted average gross weekly hours.Source: Department of Labor, Bureau of Labor Statistics.
233
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T A B L E G—32.—Average weekly earnings, gross and spendable, total private nonagriculturalindustries, in current and 1967 prices, 1947—70
Year or month
19471948..1949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970*
1969: JanFebMarAprMayJune
JulyAugSeptOctNovDec.
1970: J a n . .FebMarApr . .MayJune
JulyAugSept.Oct.
Deep
Average gross weeklyearnings
Currentprices
$45.5849.0050.24
53.1357.8660.6563.7664.5267.7270.7473.3375.0878.78
80.6782.6085.9188.4691.3395.0698.82
101.84107.73114.61
119.78
110.33110.11111.38112.13113. 55115.22
115.90116. 59117.87117.31117.38117.62
116.12116. 55117.92117.34118.40120.05
121.45122.20121.73121. 36121.40122.43
1967prices^
$68.1367.9670.36
73.6974.3776.2979.6080.1584.4486.9086.9986.7090.24
90.9592.1994.8296.4798.31100. 59101.67101.84103.39104.38
3 103.17
103.40102.81103.13103.16104.17105.03
105.17105.32106.00105.12104.62104.18
102.49102.33102.99101.86102.33103.22
104.07104. 53103.60102.76102.45
Average spendable weekly earnings 2
Worker with nodependents
Currentprices
$39.1643.1144.15
46.0248.6850.0752.4553.7656.2758.6360.4761.8364.52
65.5967.0869.5671.0575.0478.9981.2983.3886.7190.96
96.18
87.7687.6588.8089.1490.1891.40
91.9092.4193.3592.9492.9993.17
93.4393.7694.7894.3595.1496.38
97.4397.9997.6497.3697.3998.16
1967p rices i
$58.5459.7961.83
63.8362.5762.9865.4866.7870.1672.0371.7371.4073.91
73.9574.8776.7877.4880.7883.5983.6383.3883.2182.84
3 82.84
82.2581.8482.2282.0182.7383.32
83.3983.4883.9583.2882.8882.52
82.4682.3282.7881.9082.2382.87
83.4983.8283.1082.4482.19
Worker with threedependents
Currentprices
$44.6448.5149.74
52.0455.7957.8760.3160.8563.4165.8267.7169.1171.86
72.9674.4876.9978.5682.5786.3088.6690.8695.2899.99
104.86
96.6896.5797.7698.1199.19
100.46
100.98101. 51102.49102.06102.11102.30
101.97102.32103.39102.95103.77105.08
106.18106.78106.40106.11106.14106.96
1967prices i
$66.7367.2869.66
72.1871.7172.7975.2975.5979.0680.8680.3279.8082.31
82.2583.1384.9885.6788.8891.329h2190.8691.4491.07
3 90.32
90.6190.1790.5290.2691.0091.58
91.6391.7092.1791.4591.0190.61
90.0089.8390.3089.3789.6990.35
90.9991.3490. 5589.8589.57
1 Earnings in current prices divided by the consumer price index on a 1967 base.2 Average gross weekly earnings less social security and income taxes.3 Based on 11-month average for the consumer price index.
Note.—"Total private" consists of manufacturing; mining; contract construction; transportation and public utilities;wholesale and retail trade; finance, insurance, and real estate; and services.
See also Note, Tables C-27 and C-28.
Source: Department of Labor, Bureau of Labor Statistics.
234
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-33.—Average weekly earnings, gross and spendable, in manufacturing industries, incurrent and 1967 prices, 1939-70
Year or month
1939
1940194119421943194419451946194719481949
1950.19511952195319541955.1956195719581959
196019611962..1963196419651966196719681969
1970*
1969: Jan.FebMar_Apr_May_June
Jiily.Aug.SeptOct.Nov.Dec
1970: JanFeb.Mar.Apr.May.June
July.Aug.SeptOct..NovDec
Average gross weeklyearnings
Currentprices
$23.64
24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88
58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26
89.7292.3496.5699.63102.97107. 53112.34114.90122.51129. 51
133.73
126.05124.80127.39127. 58128.61130.06
128.88129.92132.84132.28132. 36134.89
131.93130.94132.40131.80132.93134.40
134.46134.13135.43133.45134.58138.40
1967prices l
$56.83
59.4366.8575.1683.1586.7282.0074.0573.5073.6875.46
80.8981.4184.4887.9887.5794.3996.7896.7995.51
101.10
101.15103.06106. 58108.65110.84113.79115.58114.90117.57117.95
3 115.19
118.13116.53117.95117.37117.99118.56
116.95117.36119.46118.53117.97119.48
116.44114.96115.63114.41114.89115.56
115.22114.74115.26113.00113.57
Average spendable weekly earnings 2
Worker with nodependents
Currentprices
$23.37
24.4627.9631.8035.9537.9936.8237.3142.1046.5747.21
50.2652.9755.0457.5958.4562.5164.9266.9367.8271.89
72.5774.6077.8679.8284.4089.0891.5793.2897.70
101.90
106.62
99.3698.44100.34100.48101.24102.30
101.43102.20104. 34103.93103.99105.85
105.28104. 53105.63105.18106.02107.13
107.17106 92107.90106.41107.26110.12
1967prices 1
$56.18
58.2463.4065.1669.4072.0968.3163.7862.9364.59£6.12
69.7168.0869.2371.9072.6177.9479.7579.4078.3182.35
81.8283.2685.9487.0490.8594.2694.2193.2893.7692.81
3 91.83
93.1291.9192.9192.4492.8893.25
92.0492.3293.8?93.1392.6893.76
92.9291.7792.2591.3091.6392.12
91.8391.4691.8390.1090.51
Worker with threedependents
Currentprices
$23.40
24.7129.1936.3141.3343.7642.5942.7947.5852.3152.95
56.3660.1862.9865.6065.6569.7972.2574.3175.2379.40
80.1182.1885.5387.5892.1896.7899.45
101.26106.75111.44
115.90
108.78107.82109.81109.95110.74111.86
110.95111.75114.01113.57113.63115.61
114.48113.69114.85114.37115.27116.43
116.48116.22117.25115.68116.58119.62
1967prices *
$56.25
58.8366.1974.4179.7983.0479.0273.1571.1272.5574.16
78.1777.3579.2281.9081.5587.0288.7688.1586.8790.95
90.3291.7294.4095.5199.22
102.41102.31101.26102.45101.49
3 99.83
101.95100.67101.68101.15101.60101.97
100.68100.95102.53101.77101.27102.40
101.0499.82
100.3199.2899.63
100.11
99.8199.4299.7997.9598.38
1 Earnings in current prices divided by the consumer price index on a 1967 base.2 Average gross weekly earnings less social security and income taxes.
3 Based on 11-month average for the consumer price index.
Note—See Note, Tables C-27 and C-28.
Source: Department of Labor, Bureau of Labor Statistics.
235
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-34.—Indexes of output per man-hour and related data, private economy, 1947-70
[1967=100]
YearTotalpri-vate
Farm
Nonfarm industries
Total
Man-ufac-tur-ing
Non-man-ufac-tur-ing
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Outputx Man-hours 2 Output per man-hour
1947...1948...1949...
1950...1951...1952...1953...1954...1955...1956...1957...1958...1959...
1960...1961...1962...1963...1964...1965...1966...1967...1968—1969...
1970 *__
1947...1948...1949—
45.647.847.6
52.555.857.260.159.364.365.666.565.670.2
71.973.278.281.586.291.897.7
100.0104.9107.9
107.5
71.179.577.0
81.277.079.583.785.487.487.084.987.088.3
91.692.992.595.493.399.293.7
100.099.698.7
96.7
44.546.546.4
51.355.056.359.158.363.464.765.764.869.5
71.172.577.680.985.991.597.9
100.0105.1108.3
107.9
44.746.944.2
51.356.557.862.658.265.065.365.560.267.6
68.668.375.279.084.592.7
100.1100.0106.7110.9
106.4
44.546.347.6
51.454.155.557.358.362.564.465.967.270.4
72.574.678.981.985. 690.996.7
100.0104.3106.9
108.7
88.889.286.2
87.990.791.292.088.692.193.792.388.491.2
92.090.692.492.994.597.499.7
100.0101.9104.1
102.7
243.4233.9232.4
215.1203.1192.8179.3173.9176.7168.6155.3144.2143.6
141.2132.6129.0122.1117.4114.1103.6100.098.292.0
85.5
78.079.176.0
79.082.984.185.982.686.188.487.984.587.6
88.687.789.890.992.996.399.5
100.0102.1104.9
103.9
81.580.973.7
79.885.987.391.683.788.289.588.180.986.1
85.883.586.987.789.494.3
100.2100.0101.9103.7
98.5
76.478.277.1
78.681.582.683.282.285.287.987.886.188.3
89.989.691.292.394.697.299.1
100.0102.3105.5
51.353.655.3
59.761.562.765.366.969.970.072.074.376.9
78.280.984.787.791.194.298.0
100.0102.9103.7
104.6
29.234.033.1
37.737.941.246.749.149.551.654.760.461.5
64.970.071.778.179.586.990.5
100.0101.4107.3
113.1
57.158.861.1
65.066.366.968.970.573.673.274.876.779.3
80.382.786.489.192.495.198.4
100.0102.9103.2
103.8
54.857.960.0
64.465.966.268.369.573.772.974.474.478.5
79.981.886.690.194.598.399.9
100.0104.7106.9
108.1
58.259.261.8
65.366.467.268.971.073.473.375.078.079.8
80.683.386.588.791.593.597.6
100.0101.9101.4
102.1
Compensation per man-hour3 Unit labor cost Implicit price deflator4
36.239.540.1
1950.1951.1952.1953.1954.1955.1956.1957.1958...1959
1960196119621963—19641965—1966...1967.1968.1969...
1970 P..
42.846.949.852.954.555.959.563.366.069.0
71.774.477.780.884.988.494.5
100.0107.6115.4
123.6
38.341.843.0
45.349.352.054.956.658.662.065.568.171.0
73.976.379.382.286.189.294.6
100.0107.114.5
122.3
37.140.742.6
44.749.352.4
57.860.063.967.770.673.5
76.679.082.385.089.091.295.3
100.0107.1113.9
121.6
38.942.343.3
70.673.772.5
45.749.151.554.255.957.660.864.367.069.7
71.776.379.481.081.580.185.087.988.989.8
72.675.277.980.984.888.394.2
100.0107.5115.0
123.3
91.892.191.892.193.193.896.5
100.0104.6111.3
118.1
67.171.070.3
69.774.377.679.780.379.684.787.688.789.5
92.092.391.892.393.293.996.2
100.0104.3111.0
117.8
67.770.371.0
69.574.879.180.983.281.487.691.194.993.7
95.996.595.094.494.192.895.5
100.0102.3106.6
112.5
66.971.470.0
66.470.970.2
69.973.976.678.778.878.482.985.785.987.3
90.090.290.191.292.794.496.5
100.0105.4113.5
120.8
70.976.177.578.179.179.882.385.387.188.3
89.590.91.292.293.294.897.2
100.0103.6108.2
113.4
63.868.268.7
69.474.075.977.278.579.582.385.386.888.3
89.690.491.292.393.494.896.8
100.0103.6108.0
113.2
66.971.372.8
73.077.979.680.081.683.186.989.791.993.3
94.194.494.494.595.495.797.4
100.0102.3104.5
62.366.666.6
67.771.874.075.976.977.980.083.284.385.9
87.388.589.791.192.494.396.6
100.0104.3109.9
1 Output refers to gross national product in 1958 prices.2 Hours of all persons in private industry engaged in production, including man-hours of proprietors and unpaid family
workers. Man-hours estimates based primarily on establishment data.3 Wages and salaries of employees plus employers' contribution for social insurance and private benefits plans. Also
includes an estimate of wages, salaries, and supplemental payments for the self-employed.4 Current dollar gross product divided by constant dollar product.
Note.—For information on sources, methodology, trends, and underlying factors influencing the measures, see Bureauof Labor Statistics, Department of Labor, Bulletin No. 1249, "Trends in Output per Man-Hour in the Private Economy,1909-58," December 1959.
Source: Department of Labor, Bureau of Labor Statistics.
236
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITYTABLE C-35.—Industrial production indexes, major industry divisions, 1929-70
[1957=100]
Year or month
192919301931 .1932193319341935193619371938 _19391940 . .194119421943 .194419451946 . .194719481949 . .19501951195219531954 .195519561957.19581959196019611962 . . .19631964196519661967196819691970 v . . . . . .
1969: JanFeb -.MarApr . .MayJune . . .JulyAugSeptOctNovDec
1970: JanFebMarApr . .MayJuneJulyAugSeptOctNov pDec p
Totalindustrialproduction
24.320.216.813.115.416.819.423.025.119.924.227.835.743.852.451.744.637.641.643.340.947.451.453 357.754.361.163.263.759.366.868.869.474.878.683.790.798.9
100 0104.7109.3106
Total
24.219.816.212.514.816.319.222.824.919.123.727.436.545.855.554.045.737.641.643 140.847.551.353 458.054.060.962.763.158.466.468.268.674.378.283.390.899.3
100.0104.5108.9104
Manufacturing
Durable
23.317.311.97.39.5
11.514.719.121.513.819.224.435.248.862.961.647.833.439.340.937.245.351.054.161.054.062.263.563.555.264.566.365.472.076.181.690.7
100.7100.0103.7107.8101
Nondurable
24.822.521.218.721.221.924.226.928.525.329.030.637.341.245.744. i42.441.943.545.044.249.250.851.754.154.159.261.762.562.668.970.873.077.581.085.891.197.5
100.0105.6110.3110
Mining
43.838.032.627.131.132.635.340.645.839.643.548.552.354.155.759.959.058.364.567.960.267.273.773.175.072.980.184.784.577.280.582.182.984.887.290.192.797.3
100.0102.3105.2110
Utilities
6.97.16.16.86.36.27.68.18.98.99.9
11.012.313.815.316.316.517.219.722.123.526.830.533.136.138.843.447.550.853.158.462.566.171.175.781.887.094.1
100.0109.5119.6128
Seasonally adjusted
107.0107.6108.4108.6109.1109.9110.4110.2110.0109.5108.4108.2107.8107.8108.2107.7106.9106.8107.0106.8104.9102.7102.2103.7
106.6107.6108.4108.3108.8109.5110.0109.8109.7108.9107.6107.3106.6106.6107.0106.4105.3105.2105.5105.0102.599.899.4
101.2
105.7106.6107.5107.3107.9108.9109.2109.2109.2108.3105.1104.5103.7103.6104.5102.9102.4102.2102.3101.898.093.892.795.4
107.8108.9109.6109.7110.2110.3111.1110.8110.5109.6110.9110.9110.6110.8110.3111.2109.1109.2110.0109.3108.5107.8108.5109
101.6100.8102.3104.0105.3108.6107.6106.0106.3105.2107.1108.6106.4108.4109.1108.2108.9109.5108.1110.7112.2113.0113.1112
116.3116.2116.3117.0115.5116.6120.2120.4120.3122.2122.2123.3124.4125.9124.6126.4127.0127.3127.8127.5131.3132.4129.5129.8
Note.—The indexes in this table were converted to a 1967 base from the Federal Reserve indexes published on a 1957-59base.
Source: Board of Governors of the Federal Reserve System.
237411-364 0 — 7 1 - -16
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—36.—Industrial production indexes, market groupings, 1947—70
[1967=100]
Year or month
1947.1948.1949.
1950.1951.1952.19531954.
1955.1956.1957.1958.1959.
1960.1961.1962.19631964.
1965.1966.1967.19681969.
1970
1969: Jan__.Feb._.Mar...Apr._.May..June..
July..Aug...Sept..Oct...Nov...Dec.
1970: Jan..Feb..Mar..Apr_.May._June.
July __Aug...Sept._Oct....Nov p.Dec p.
Totalindus-trialpro-duc-tion
41.643.340.9
47.451.453.357.754.3
61.163.263.759.366.8
68.869.474.878.683.7
90.798.9
100.0104.7109.3
106
Final products
Total
40.642.140.7
46.049.753.356.854.1
59.362.062.859.966.8
69.470.275.678.983.3
90.098.2
100.0104.3107.9
105
Consumer goods i
Total
45.246.646.3
52.952.453.557.256.8
62.864.365.364.971.8
74.775.880.684.388.7
94.599.3
100.0105.7109.4
109
Auto-motiveprod-ucts
46.548.748.3
60.853.748.461.257.0
79.365.670.658.172.5
82.675.087.994.797.3
112.1109.3100.0116.9116.2
101
Homegoods
41.443.239.9
55.147.447.554.351.8
58.660.858.255.966.7
66.767.673.678.185.0
93.3101.7100.0105.7110.8
108
Equipment
Total,includ-
ingdefense
30.932.529.0
31.443.752.556.049.6
53.057.858.350.958.0
60.060.466.769.273.6
81.996.2
100.0101.8105.1
98
Busi-ness
38.239.734.7
37.245.551.552.846.6
50.357.357.649.157.4
60.360.266.870.276.1
85.799.1
100.0101.0107.0
103
Materials
Seasonally adjusted
107.0107.6108.4108.6109.1109.9
110.4110.2110.0109.5108.4108.2
107.8107.8108.2107.7106.9106.8
107.0106.8104.9102.7102.2103.7
106.106.107.107.107.107.
399548
109.2109. 1108.8108.106.106.
106.107.107.106.105.
044
43249
105.6
105.105103101100
42006
102.2
108.4108.9109.6109.0108.2108.8
110.7110.6109.6108.6108.1108.2
108.8109.4109.1109.9109.9109.6
110.1110.1107.8105.7105.6108.1
118.2117.2117.6111.4111.2119.9
123.8120.4118.4115.9112.7107.9
104.2103.8107.3106.2111.6114.2
115.9112.389.373.474.399
111.0110.2112.2112.1112.0112.1
111.1111.1109.2108.1100.4100.5
102.2105.3108.1108.4107.5107.0
109.9110.7107.8108.6108.6
102.3103.4104.7105.0105.9106.1
106.4106.1107.2107.0103.5103.2
102.3103.8103.8100.398.898.3
96.896.494.592.591.891.9
104.7105.0105.5106.2107.1107.8
107.7107.8109.6109.9106.3106.0
105.5107.7108.3105.6103.2102.8
101.8101.799.797.997.498
Total
42.544.541.1
48.753.153.458.754.4
62.764.464.658.766.8
68.268.774.178.484.2
91.499.5
100.0105.1110.6
108
Dura-ble
goods
44.946.742.3
52.357.858.566.358.2
68.969.369.059.269.2
70.269.075.179.886.4
95.0103.3100.0103.9109.0
102
Non-durablegoods
39.641.639.2
44.748.148.251.350.8
56.759.660.358.264.5
66.368.573.277.182.0
87.995.9100.0106.2112.2
113
107.5108.2109.1109.6110.6111.7
111.9111.5111.5111.2110.6110.2
109.3108.7108.8108.9108.0108.5
108.6108.5107.0104.6103.9105.0
106.1107.0108.0109.2109.0109.9
109.9110.1109.7109.2107.6106.5
105.4103.9104.7105.1103.7103.9
104.3103.6100.095.393.796
108.8109.3110.0110.0112.1113.4
113.7112.7113.2113.1113.5113.8
113.1113.2112.7112.6112.1112.8
112.8113.1113.7113.5113.7114
* Also includes apparel and consumer staples, not shown separately.
Note.—The indexes in this table were converted to a 1967 base from the Federal Reserve indexes published on a 1957-59 base.
Source: Board of Governors of the Federal Reserve System.
238
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-37.—Industrial production indexes, selected manufactures, 1947-70
[1967=100]
Year ormonth
1947. .1948 . .1949. .
1950. .1951. .1952. .1953 . .1954. .
1955. .1956. .1957—1958. .1959. .
I960 . .1961. .1962. .1963 . .1964. .
1965. .1966..1967. .1968..1969..
1970 P.
1969: J a n . . .F e b . . .Mar . . -A p r . . .May . . .June. .
July . . .A u g . . .S e p t . .O c t _ .N o v . . .D e c . . .
1970: J a n . . .F e b . . .M a r . . .A p r . . .May . . .June . .
July . . .A u g . . .S e p t . .O c t . . .Nov *>_.Dec v.
Durable manufactures
Pri-mary
metals
68.571.259.9
75.482.074.984.968.9
89.487.884.766.075.8
76.574.678.985.597.4
103.8107.7100.0103.4112.5
106
Fabri-catedmetalprod-ucts
46.947.743.1
52.756.355.062.055.7
60.761.062.757.465.2
66.565.872.376.282.0
91.3100.7100.0103.7111.1
106
Ma-chinery
35.636.332.2
39,645.350.254.847.8
52.658.456.848.458.4
60.460.267.370.477.1
87.5100.2100.0100.5106.7
103
Trans-porta-tion
equip-ment
25.928.328.4
34.038.044.155.350.6
61.658.864.254.062.8
65.362.571.476.678.9
90.0100.7100.0108.3105.4
90
Instru-ments
and re-latedprod-ucts
29.129.926.6
31.035.642.346.244.9
48.051.653.049.859.5
63.062.766.670.573.8
81.995.5
100.099.7
105.2
102
Clay,glass,and
lumber
58.061.055.3
67.170.468.370.968.6
77.078.074.672.083.0
80.980.083.687.592.7
97.6101.7100.0105.1109.0
105
Furni-tureand
miscel-laneous
45.247.644.0
51.549.350.755.253.4
60.262.160.057.467.0
69.770.276.679.485.1
93.4101.5100.0104.5108.7
104
Nondurable manufactu
Textiles,apparel,
andleather
58.160.657.8
63.962.764.265.162.3
68.570.369.568.177.5
77.177.882.685.089.8
97.4101.6100.0103.9103.4
98
Paperand
printing
44.646.446.3
51.353.151.955.256.8
61.864.965.464.870.3
72.975.178.080.385.2
90.497.9
100.0103.9109.9
108
Chem-icals,petro-leum,and
rubber
25.026.726.0
31.935.536.839.639.3
45.748.150.350.357.3
59.962.669.174.680.3
86.695.7
100.0109.3117.2
118
Seasonally adjusted
Foods,bever-ages,and
tobacco
61.360.761.4
63.564.866.367.068.2
70.773.373.475.578,9
80.983.786.088.791.7
93.797.3100.0102.7105.5
107
105.3108.4110.3111.6112.7115.5
115.0114.2112.7113.5113.4111.5
108.0105.1107.1104.8107.6107.7
109.6109.9107.6101.497.6
100
109.0109.7110.3110.1110.7111.6
110.6111.6110.6110.8110.7110.2
111.2110.5110.1108.2105.9106.4
106.5106.2104.599.398.3
101
104.6105.1106.2106.1107.4107.5
108.0108.7109.7108.5102.2102.9
103.4106.8108.6106.3104.1103.9
104.3103.8101.599.797.597
103.3104.5105.1104.0103.7106.6
109.3108.1107.9106.0101.698.9
96.393.194.192.494.996.5
95.494.683.973.673.986
103.7103.0104.3105.7105.7105.9
105.4105.5105.7104.9106.1106.8
105.4105.0104.8105.7103.5101.7
101.299.298.498.198.496
110.0111.4111.0109.6109.9107.6
105.8107.3107.6107.7107.6107.0
108.0108.0105.2107.3106.5102.6
103.1104.7102.4102.8103.4103
108.6108.1108.5109.7110.1110.1
108.4108.4107.9107.4107.7107.8
108.2107.0107.1106.7104.0103.5
102.9102.2101.4101.6102.5101
103.0102.3103.8103.1104.9104.7
104.3102.8101.2101.9102.5101.5
101.499.698.699.698.197.4
97.597.597.097.196.496
107.1107.8108.4108.6109.5109.9
110.9111.2110.8110.5111.0111.5
110.0110.0109.9110.3109.0108.1
108.2108.4105.3104.9105.7106
112.7114.7115.6116.7117.2117.5
118.5117.1117.5117.2118.6118.3
116.9117.9118.3119.5115.9118.1
119.4117.6116.8116.4117.3118
104.8105.9106.2104.9103.9104.0
105.1107.1106.6103.4105.7106.4
108.4109.0107.3108.0107.3105.7
106.3106.4107.1105.1106.2107
Note.—The indexes in this table were converted to a 1967 base from the Federal Reserve indexes published on a1957-59 base.
Source: Board of Governors of the Federal Reserve System.
239
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-38.—Manufacturing output, capacity, and utilization rate, 194S-70
Period
19481949.
19501951195219531954.
19551956195719581959.
I960 .1961.1962.1963.1964.
196519661967.19681969
1970
1965: I . .II.IIIIV
1966: III.IIIIV
1967: I.II.IIIV.
1968: l ._II. .IllIV.
1969: I . .II .MLIV.
1970: I vIIIIIIV
Output Capacity'
1967 output=100
43.140.8
47.551.353.458.054.0
60.962.763.158.466.4
68.268.674.378.283.3
90.899.3
100.0104.5108.9
104.0
88.589.991.593.2
96.798.7
100.1101.3
99.698.699.1
101.0
102.6104.0104.5105.9
107.5108.9109.8107.9
106.8105.6104.4110.1
48.150.8
52.854.758.061.664.7
67.971.675.678.881.5
84.587.490.493.897.4
102.7109.6116.5123.2130.0
136.8
Utilization rate J
Total Advancedproducts
Percent
89.780.2
90.494.091.394.283.5
90.087.783.674.081.5
80.678.582.183.385.7
88.590.585.384.683.7
76.6
87.980.3
87.391.091.994.183.8
87.886.082.373.681.0
81.178.982.583.184.4
87.690.585.983.881.6
73.9
Seasonally adjusted
100.3101.9103.5105.1
106.9108.7110.5112.3
114.0115.7117.4119.0
120.7122.4124.1125.8
127.5129.2130.8132.5
134.2135.9137.6139.3
88.588.488.588.6
90.590.890.690.0
87.185.084.384.8
85.085.184.284.2
84.584.584.281.7
79.878.076.272.3
87.287.187.488.7
90.290.490.690.6
87.886.285.184.3
84.583.883.783.2
82.782.382.379.1
77.575.673.469.2
Primaryproducts
92.280.0
94.898.190.494.483.0
93.290.185.374.682.1
80.078.181.683.687.4
89.790.584.685.886.7
80.2
90.290.190.188.5
90.991.490.689.1
86.283.483.285.6
85.786.984.985.6
87.087.886.785.3
83.181.280.176.5
»For description and source of data see "A Revised Index of Manufacturing Capacity," Frank deLeeuw, Frank E.Hopkins,and Michael D. Sherman, "Federal Reserve Bulletin," November 1966, pp. 1605-1615. See also McGraw-Hill surveys on"Business Plans for New Plants and Equipment" for data on capacity and operating rates.
5 Output as percent of capacity; based on unrounded data.
Source: Board of Governors of the Federal Reserve System (output) and sources in footnote 1 (capacity and utilizationrate).
24O
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-39.—Business expenditures for new plant and equipment, 1947—71 1
[Billions of dollars]
Yearor quarter
194719481949
1950195119521953 . . . .1954
1955 . . .1956195719581959
19601961196219631964
19651966196719681969
1970s19713
1968: 1
III"."IV....
1969: 1I L . . .I I I . . .
1970: 111 . . . .I I I . . .IV3 .
1971: | 3 . . _ .II 3 . . .
Total
19.3321.3018.98
20.2125.4626.4328.2027.19
29.5335.7337.9431.8933.55
36.7535.9138.3940.7746.97
54.4263.5165.4767.7675.56
80.5881.67
68.0966.2967.7769.05
72.5273.9477.8477.84
78.2280.2281.8881.72
81.4082.20
Manufacturing
Total
8.449.017.12
7.3910 7111.4511.8611.24
11.8915.4016 5112.3812.77
15 0914.3315.0616.2219 34
23.4428.2028.5128.3731.68
32.2631.39
28.0227.8428.8628.70
29.9931.1633.0532.39
32.4432.4332.1532.13
31.4931.11
Dura-ble
goods
3.253.302.45
2.944.825.215.314.91
5.417.457 845.615.81
7 236 316.797.539 28
11.5014.0614.0614.1215.96
15.9115.42
14.1113.5114.4714.39
15.4715.9816.5315.88
16.4016.3215.7415.30
15.7014.85
Non-durablegoods
5.195.714.68
4.455 896.246.566.33
6.487.958 686.776.95
7 858.028.268.70
10 07
11.9414.1414 4514.2515.72
16.3615.97
Mining
0.69.93.88
.841.111.211.251.28
1.311.641.691.431.36
1.301.291.401.271.34
1.461.621.651.631.86
1.861.84
Transportation
Rail-road
0.911.371.42
1.181.581.501.42.93
1.021.371.58.86
1.02
1.16.82
1.021.261.66
1.992.371.861.451.86
1.831.56
Air
0.17.10.12
.10
.14
.24
.24
.24
.26
.35
.41
.37
.78
.66
.73
.52
.401.02
1.221.742.292.562.51
2.942.16
Other
1.131.17.76
1.091.331.231.291.22
1.301.311.301.061.33
1.301.231.651.581.50
1.681.641.481.591.68
1.241.28
Seasonally adjusted annual rates
13.9114.3314.4014.31
14.5215.1816.5216.50
16.0516.1116.4016.82
15.7916.26
1.801.661.571.52
1.831.881.891.85
1.921.841.861.81
1.86
1.681.491.291.34
1.681.762.061.94
1.741.881.961.76
1.56
2.881.982.692.87
2.892.222.232.80
2.942.883.242.72
2.03
1.431.491.651.75
1.871.661.651.63
1.371.121.221.27
1.15
Publicutili-ties
1.542.543.10
3.243.563.744.343.99
4.034.525.675.525.14
5.245.004.904.985.49
6.137.438.74
10.2011.61
13.3315.24
10.0810.249.82
10.63
11.5211.6811.4811.80
12.1412.7213.8414.36
15.92
Com-muni-cation
1.401.741.34
1.141.371.611.781.82
2.112.823.192.792.72
3.243.393.854.064.61
5.306.026.346.838.30
10.24
Com-mer-cialand
other 2
5.054.424.24
5.225.675.456.026.45
7.638.327.6C7.488.44
8.759.139.99
10.9912.02
13.1914.4814.5915.1416.05
16.86
28720
6.836.426.677.34
7.747.928.718.76
9.1410.3810.62
15.3715.1715.2214.91
15.0015.6716.7816.67
16.5216.9817.00
27.18
27.38
51.09
1 Excludes agricultural business; real estate operators; medical, legal, educational, and cultural service; and nonprofitorganizations. These figures do not agree precisely with the fixed investment data in the gross national product estimates,mainly because those data include investment by farmers, professionals, institutions, and real estate firms, and certainoutlays charged to current account.
2 Commercial and other includes trade, service, construction, finance, and insurance.3 Estimates based on expected capital expenditures reported by business in October-December 1970. Includes adjust-
ments for systematic biases in expectations data.
Note.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the average of season-ally adjusted figures.
Sources: Department of Commerce (Office of Business Economics) and Securities and Exchange Commission.
241
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE CM-O.—New construction activity, 1929-70[Value put in place, millions of dollars]
Year or month
1929
19301931193?19331934 . . . .19351936193719381939
1940194119421943194419451946
New series5
194619471948 . . . .1949
1950.195119521953195419551956195719581959
1960196119621963
New series9
19621963196419651966196719681969
1970 7
Totalnewcon-
struc-tion
10,793
8,7416,4273 5382 8793] 7204 2326 4976,9996,9808,198
8 68211 95714 0758 3015 2595,809
12,627
14,30820,04126,07826,722
33, 57535 43536 82839,13641,38046,51947,60149,13950 15355, 305
53,94155,44759,57662,755
59,66763,42366,20072,31975,12076,16084,69090,866
90,690
Private construction
Total
8,307
5,8833,7681,6761,2311,5091,9992,9813,9033,5604,389
5,0546,2063,4151,9792,1863,411
10,396
12,07716,72221,37420,453
26,70926,18026,04927,89429,66834,80434,86935,08034,69639,235
38,07838,29941,70743,859
41,79844,05745,81050,25351,12050,58756,99662, 806
62, 850
Residential build-ing (nonfarm)
TotaM
3,625
2,0751,565
630470625
1,0101,5651,8751,9902,680
2,9853,5101,715
885815
1,2764,752
6,2479,850
13,12812,428
18,12615,88115,80316, 59418,18721,87720,17819,00619,78924,251
21,70621,68024,29225,843
24,29226,18726,25826,26823,97123,73628,82330,603
29, 040
Newhous-
ingunits
3,040
1,5701,320
485290380710
1,2101,4751,6202,270
2,5603,0401,440
710570720
3,300
4,7957,765
10, 50610,043
15, 55113,20712,85113,41114,93118,24216,14314,73615,44519,233
16,41016,18918,63820,064
18,63820,38520,35420,35117,96417,88522,42323,689
21,880
Nonresidential building and otherconstruction
Total
4,682
3,8082,2031,046
761884989
1,4162,0281,5701,709
2,0692,6961,7001,0941,3712,1355,644
5,8306,8728,2468,025
8,58310,29910,24611,30011,48112,92714,69116,07414,90714,984
16,37216,61917,41518,016
17,50617,87019,55223,98527,14926,85128,17332, 203
33,810
Com-mer-c i a l
1,135
893454223130173211290387285292
3484091553356
2031,153
1,153957
1,3971,182
1,4151,4981,1371,7912,2123,2183,6313,5643,5893,930
4,1804,6744,9555,200
5,1444,9955,3966,7396,8796,9828,333
10,136
In-dus-trial
949
532221
74176191158266492232254
442801346156208642
1,689
1,6891,7021,397
972
1,0622,1172,3202,2292,0302,3993,0843,5572,3822,106
2,8512,7802,9492,962
2,8422,9063,5655,1186,6796,1315,5946,373
Others
2,598
2,3831,528
749455520620860
1,1491,0531,163
1 2791,4861,199
9051,1071,2902,802
2,9884,2135,4525,871
6,1066,6846,7897,2807,2397,3107,9768,9538,9368,948
9,3419,1659,5119,854
9,5209,969
10, 59112,12813,59113,73814,24615,694
Public construction
Total
2,486
2,8582,6591 8621 6482,2112 2333 5163,0963,4203,809
3 6285,751
10,6606,3223,0732,3982,231
2,2313,3194,7046,269
6,8669,255
10,77911,24211,71211,71512,73214,05915,45716, 070
15,86317,14817,86918,896
17, 86919,36620,39022,06624,00025, 57327,69428,060
27,840
Fed-erallyowned
155
209271333516626814797776717759
1 1823,7519,3135,6092,5051,737
865
865840
1,1771,488
1,6242,9814,1854,1393,4282,7692,7262,9743,3873,724
3,6223,8793,9133,970
3,9134,0103,9054,0183,9573,5123,4553,409
3,320
Stateand
locallyowned •
2,331
2,6492,3881 5291 1321,5851 4192 7192,3202,7033,050
2 4462 0001,347
713568661
1,366
1,3662,4793,5274,781
5,2426 2746,5947,1038,2848,946
10,00611,08512,07012,346
12,24113,26913,95614,926
13,95615,35616,48518,04820,04322,06124.23824,651
24, 520
See footnotes at end of table.
242
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-40.—New construction activity, 1929-70—Continued
[Value put in place, millions of dollars]
Year or month
1969: JanF e b . . . .Mar. . . .Apr . .May.. . .June . . .
July . . . .AugS e p t . . .O c t . . . .Nov .D e c . . .
1970: J a n . . . .F e b . . . .Mar. . . .A p r . . . .May.. . .June . . .
JulyAugSept v
Octp..".Nov »___
Totalnewcon-
struc-tion
Private construction
Total
Residential build-ing (nonfarm)
Total iNew
hous-ing
units
Nonresidential building and other
Total
construction
Com-mer-cials
In-dus-trial
Other*
Public
Total
construction
Fed-erallyowned
Stateand
locallyowned«
Seasonally adjusted annual rates
91,97292,06691,72292, 78492, 35991,475
90,80689, 88991,10590,65788, 79189, 759
90, 79091,97890,71890, 72189, 70290, 090
89, 23590, 03190,68491,32791,059
62,87562, 55062, 76263, 05063, 66963, 027
63,16162,41263, 72563, 56161,80561,878
62, 73763, 34064,15963,60662, 65661,652
60, 79561, 59662, 48963,65563,285
31, 08431,43632,42333, 01832,97131,635
30, 30429, 28429,21429, 28028, 77828,926
28,71128,65829, 38129,82929,15027,698
27,13427,63928 53229,69830, 540
24,97225,47225,45824,99524, 49023,887
23,21422, 57722,61523, 02722, 76022,468
21,66721,19621,40421,34020, 57219,972
20, 38021,43022,29023,17324,019
31,79131,11430,33930, 03230, 69831,392
32,85733,12834,51134, 28133, 02732,952
34, 02634,68234, 77833, 77733, 50633,954
33,66133,95733,95733, 95732, 745
9,9719,9419,7519; 0669,284
10, 020
10,41710,34311,11810,85610,16810,337
11,02911,72411,83110,57710,55310,903
10,02710,18810,37510,2108,924
6,8006,3186,0195,8575,9236,050
6,4046,4146,7146,9466,5716,419
6,4336,0005,9166,2305,8645,892
5,9156,2415 7415,9836,086
15,02014, 85514, 56915,10915,49115, 322
16, 03616, 37116,67916,47916,28816,196
16, 56416,95817, 03116,97017, 08917,159
17,71917,52817,84117,76417,735
29, 09729, 51628,96029,73428,69028, 448
27,64527,47727, 38027, 09626,98627, 881
28, 05328,63826, 55927,11527, 04628,438
28,44028,43528,19527,67227,774
3,5513,4633,5303,7843,4883,574
3,1143,4133,4313,4373,0623,234
3,2403,3223,0693,5343,2253,321
2,8693,4793 5493,5503,398
25,54626, 05325, 43025,95025, 20224, 874
24, 53124,06423,94923,65923,92424,647
24,81325,31623,49023, 58123, 82125,117
25, 57124,955
» Total includes additions and alterations and nonhousekeeping units not shown separately.2 Office buildings, warehouses, stores, restaurants, and garages.3 Farm, institutional, public utilities, and all other private.* Includes Federal grants-in-aid for State and locally owned projects.* New series in 1946 reflects differences due to the new higher level series of housing starts and farm construction ex-
penditures and the reduced level value in place series for public utilities. See "Construction Report C30-61 (Supplement)"for a description of the differences.
* New series differs from old in that it reflects differences in 1962 due to the introduction of new series for private non-residential buildings and differences in 1963 due to the introduction of new series for State and locally owned publicconstruction. See "Construction Report C30-65S" for a description of the differences.
i Preliminary estimates by Council of Economic Advisers.
Source: Department of Commerce, Bureau of the Census, except as noted.
243
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TABLE C-41.—New housing starts and applications for financing, 1929-70[Thousands of units]
Year ormonth
1929
1930193119321933193419351936193719381939
19401941194219431944
New series
19451946194719481949
195019511952195319541955195619571958 . . . .1959
1960196119621963196419651966196719681969
1970*
Housing starts
Private andpublic^
Total(farm
andnon-
farm)
1,553.5
1,296.01,365.01,492.41,642.01,561.01,509.61,195.91.321.91,545.51,499.6
1,462.7
Non-farm
509.0
330.0254.0134 093.0
126.0221.0319.0336.0406.0515.0
602.6706.1356.0191.0141.8
326.11 023.21,268 51,362.11,466.1
1,951.91,491.01,503.91,437.61,550.51,646. 01,349.11,223.91,382.01,531.3
1,274.01,336.81,468.71,614.81,534.01,487.51,172.81.298.81,5?1.41,482.3
<9)
Private i
Total (farm and nonfarm)
Total
1,516.8
1,252.11,313.01,462.71,610.31,528.81,472.91,165.01.291.61,507.71,466.8
1,429.3
Type ofstructure2
Onefamily
1,234.3
994.7974.4991.3
1,020.7970.5963.8778.5843.9899.5810.6
810.7
Two ormore
families
282.5
257.4338.6471.4589.6558.3509.1386.5447.7608.2656.2
618.6
Nonfarm
Total
509.0
330.0254.0134.093.0
126.0215.7304.2332.4399.3458.4
529.6619.5301.2183.7138.7
324.91,015.21,265.11,344.01,429.8
1,908.11,419.81,446.01,402.11,531.81,626.61,324.91,174.81,314.21,494.6
1,230.11,284.81,439.01,582.91,501.91,450.61,141.51,268.41,483.61,449.1
(8)
SelectedGovernment
home programs 3
FHA<
13.248.857 0
106.8144.7
176.6217.1160.2126.183.6
38.967.1
178.3216.4252.6
328.2186.9229.1216.5250.9268.7183.4150.1270.3307.0
225.7198.8197.3166.2154.0159.9129.1141.9147.7153.6
233.5
VA
88.891.8
160.371.190.8
191.2148.6141.3156.5307.0392.9270.7128.3102.1109.3
74.683.377.871.059.249.436.852.556.151.2
61.0
Newprivatehousing
unitsauthor-ized s
1,208.3
998.01,064.21,186.61,334.71,285.81,239.8
971.91,141.01,353.41,322.3
1,324.9
Proposedhome con-struction «
Appli-cations
forFHAcom-mit-
ments *
7 20.647.849.8
131.1179.8
231.2288.5238.5144.462.9
56.6121 7286 4293.2327.0
397.7192.8267.9253.7338.6306.2197.7198.8341.7369.7
242.4243.8221.1190.2182.1188.9153.0167.2168.9187.6
315.0
Re-quests
forVAap-
prais-als
164.4226.3251.4535.4620.8401.5159.4234.2234.0
142.9177.8171.2139.3113.6102.199.2
124.3131.7138.2
143.7
See footnotes at end of table.
244
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TABLE C-41.—New housing starts and applications for financing, 1929-70—Continued
[Thousands of units]
Year ormonth
1969: Jan...Feb..Mar..Apr..May..June.
July..Aug_.Sept.Oct...Nov..Dec .
1970: Jan...Feb_.Mar..
MayV.June..
July..Aug..Sept..Octp..N O V P .
Decp.
Housing starts
Private andpublic i
Total(farm
andnon-
farm)
Non-farm
Private i
Total (farm and nonfarm)
Total
Type ofstructure2
Onefamily
Two ormore
families
Nonfarm
Total
SelectedGovernment
home programs3
FHA* VA
Newprivatehousing
unitsauthor-ized s
Seasonally adjusted annual rates
1,7051,6391,5881,5051,5331,507
1,4291,3761,4811,3901,2801,402
1,0591,3061,3921,2241,2421,393
1,6031,4251,5091,5831,6881,987
926864824797877826
803752828766762776
577725708697728835
827838881890930
1,204
779775764708656681
626624653624518626
482581684527514558
776587628693758783
1,6741,6181,5711,4901,5191,483
1,4061,3621,4621,3771,2611,346
?!1(9)(9)(9)(9)(9)(9)
138139156164137149
138142151160178191
170182187205194215
228236243265292300
585253494748
474754515257
545862605751
506460637178
1,4741,4521,4161,4141,3321,346
1,2901,3251,2481,2121,2131,175
1,051I , l l 81,0851,1781,3091,284
1,3091.3781,3891,5211,4891,737
Proposedhome con-struction 6
Appli-cations
forFHAcom-mit-
ments4
Re-quests
forVAap-
prais-als
180171162169169178
176169193224230210
251250258282269290
294319338327350350
148132135127124130
142152128127177147
141142142134131125
127153138166163151
i Units in structures built by private developers for sale upon completion to local public housing authorities under theDepartment of Housing and Urban Development "Turnkey" program are classified as private housing. Military housingstarts, including those financed with mortgages insured by FHA under Section 803 of the National Housing Act, are in-cluded in publicly financed starts but excluded from total private starts and from FHA starts.
* Not available prior to 1959 except for nonfarm for 1929-44.* Data are not available for new homes started under the Department of Agriculture, Farmers Home Administration
program.* Units are for 1- to 4-family housing.5 Data beginning 1967 cover approximately 13,000 permit-issuing places. Data for 1963-66 are based on 12,000 places
and 1959-62,10,000 places. The addition of approximately 1,000 permit-issuing places in 1957 contributed an increase of3 percent in total permit authorizations.
« Units in mortgage applications or appraisal requests for new home construction.7 FHA d i J 1934 ll 1934 t i i t i l d d i 1935
U i t s i m t g g e p p t s or pp q7 FHA program approved in June 1934; all 1934 activity included in 1935.8 Monthly estimates for September 1 9 4 5 M 1950 d b H9 Not available separately beginning
934; all 1934 activity included in 1935.thly est imtes p b e r 1945-May 1950 were prepared by Housing and Home Finance Agency.
9 Not available separately beginning January 1970.
Sources: Department of Commerce (Bureau of the Census), Department of Housing and Urban Development,(FederalHousing Administration (FHA)), and Veterans Administration (VA) , except as noted.
245
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TABLE G—4-2.—Sales and inventories in manufacturing and trade, 1947-70
[Amounts in millions of dollars]
Year or month
1947...1948...1949...
1950—1951...1952...1953...1954...
1955..1956—1957...1958...1959...
1960...196H-1962...1963..1964...
1965...1966...1967...1968...1969—
1970s.
1969: Jan.. .Feb...Mar..Apr...May..June..
July..Aug..Sept..Oct...Nov..Dec. .
1970: Jan.. .Feb...Mar..AprMay..June..
July..Aug..Sept..Octp.Nov v_Dec..
Total manufacturingand trade
Sales i
35,26033,788
38,59643,35644,84047,98746,443
51,69454,06355,87954,23359,661
60,74661,13365,41768,96973,685 111
80,27687,18488,96296,989103, 755
106, 529
Inven-tories2
52, 50749, 497
59,82270,24272,37776,12273,175
79,51687,30489,05286,92291,891
94,74795,648101,090105,477"",457
120,900136,988143,334152,699164,917
170,857
Ratio 3
.42
.53
.36
.55
.581.581.60
1.471.551.591.601.50
1.561.541.511.491.47
1.451.471.571.521.53
1.57
Manufacturing
Sales i
15,51317,31616,126
18,63421,71422, 52924,84323,355
26,48027,74028,73627,28030,219
30,79630,89633,11335,03237,335
41,00344,87645,71250,38454, 726
55,613
Inven-tories 2
25,89728, 54326,321
31,07839, 30641,13643,94841,612
45,06950,64251,87150,07052,707
53,81454,93958,21360,04363, 386
68,22178,22482,82588, 56795,931
100, 032
Ratio s
1.581.571.75
1.481.661.781.761.81
1.621.731.801.841.70
1.761.741.721.691.64
1.601.621.771.701.69
1.76
Merchant wholesalers
Sales i
6,8086,514
7,6958,5978,7829,0528,993
9,89310,51310,47510,25711,491
11,65611,98812,67413,38214, 527
15,59516,97917,09918,32919, 726
20, 551
Inven-tories2
7,9577,706
9,2849,88610,21010,68610,637
11,67813,26012,73012,73913,879
14,12014,48814,93616,04816,977
18,27420,69121,55722, 52824,363
26,318
Ratio 3
1.131.19
1.071.161.121.171.18
1.131.191.231.241.15
1.221.201.161.151.13
1.141.141.211.201.19
1.23
Retail trade
Sales i
10,20011,13511,149
12,26813,04613,52914,09114,095
15,32115,81116,66716,69617,951
18,29418,24919,63020, 55621,823
23,67725,33026,15128,27729,303
30,364
Inven-tories 2
14,24116,00715,470
19,46021,05021,03121,48820,926
22,76923,40224,45124,11325,305
26,81326,22127,94129,38631,094
34,40538,07338,95241,60444,623
44, 507
Ratio 3
1.261.391.41
1.381.641.521.531.51
1.431.471.441.431.40
1.451.431.381.391.40
1.391.441.461.431.47
1.47
Seasonally adjusted
100,192101,418101, 776 155;102, 704 156,103,349104, HO
103,668105,295106,078106, 593105, 566105,021
104,932106,164105, 487105, 087106, 847107, 612
108,175
153,227154,536"".,671
i,698157, 584158, 553
159,634160,734161,841163, 331163,763164,917
164,698165, 638166,149167, 059166,734167,375
108,393 168,635169,364
108,074 170,038106,224 170,352104, 824 170, 857
1.531.521.531.531.521.52
1.541.531.531.531.551.57
1.571.561.581.591.561.56
1.561.571.571.601.63
52,89053, 36253,37953, 68353,85854,799
54, 85955,89056,60956,68555,88855, 540
55,07055, 61355,22354, 53955, 66156,438
57,02556,69656,47554,93654, 0S8
89,02789,63690,37191, 03991,88592,193
93,04493, 59094, 22894,96495,47495,931
96, 20096, 65296, 98297,79197, 63597, 706
98, 26098, 48898, 65899, 466100, 032
1.681.681.691.701.711.68
1.701.671.661.681.711.73
1.751.741.761.791.751.73
1.721.741.751.811.85
18,34718, 79919,51619,61220,10519,970
19, 71920,05920,21020,28820,20720,062
20,29220, 57120,46320,01220, 68420, 656
20,63920,69820,71420, 75420, 583
22,44122, 76923,08023, 34123, 43823,611
23, 59123,60923, 71623,95624,02124,363
24,48424, 85324, 84224,94224,99025,142
25,41025,42325,68926, 00326,318
28,95529,25728, 88129,40929; 38629, 371
29,09029,34629,25929,62029,47129,419
29, 57029,98029,80130, 53630, 50230, 518
30,72930, 78130,88530, 53430,173'30,593
41, 75942,13142,22042,31842, 26142, 749
42,99943,53543,89744,41144, 26844, 623
44,01444,13344.32544.32644,10944, 527
44,96545, 45345,69144, 88344, 507
1.441.441.461.441.441.46
1.481.481.501.501.501.52
1.491.471.491.451.451.46
1.461.481.481.471.48
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly sales; for monthly
data, ratio of inventories at end of month to sales for month.4 Manufacturing data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau
of the Census, "Series M3-1.1," September 1968.5 Based on seasonally adjusted data through November.6 Unofficial estimate.
Note—The inventory figures in this table do not agree with the estimates of change in business inventories includedin the gross national product since these figures cover only manufacturing and trade rather than all business, and showinventories in terms of current book value without adjustment for revaluation.
Source: Department of Commerce (Office of Business Economics and Bureau of the Census).
246
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TABLE C-43.—Manufacturers* shipments and inventories^ 1947-70
[Millions of dollars]
Year or month
194719481949
19501951195219531954
19551956195719581959
196019613 .196219631964
19651966196719681969
1970*
1969: JanF e b . . . .Mar..A p r . . . .May. . . .June
July . . . .A u g . . . .Sept . . . .OctNovD e c - . . .
1970: JanFebMar..._A p r . . . .May_...June
July . . . .AugSept . . . .Oct . . . . .Nov p. .Dec p
Shipments i
Total
15,51317,31616,126
18,63421,71422,52924,84323,355
26,48027,74028,73627,28030,219
30,79630,89633,11335,03237,335
41,00344,87645,71250,38454,726
55,613
Dura-ble
goodsindus-tries
6,6947,5797,191
8,84510,49311,31313,34911,828
14,07114,71515,23713,57115,545
15,81715,54417,10318,24719,634
22,21624,63524,97327,65330,415
30, 214
Non-durablegoodsindus-tries
8,8199,7388,935
9,78911,22111,21611,49411,527
12,40913,02513,49913,70814,674
14,97915,35216,01016,78617,701
18,78820,24020,73922,73124,311
25,399
1 nventories 2
Total
25,89728,54326,321
31,07839,30641,13643,94841,612
45,06950,64251,87150,07052,707
53,81454,93958,21360,04363,386
68,22178,22482,82588,56795,931
100,032
Durable goods industries
Total
13,06114,66213,060
15,53920,99123,73125,87823,710
26,40530,44731,72830,09531,839
32,36032,509
Mate-rialsandsup-plies
8,9667,894
9,19410,41710,6089,847
10,585
10,28610.242
Workin
process
10,7209,721
10,75611,31712,83712,29412,952
12,78013.211
34,605: 10.798 14.20535,81338,436
42,22749,84953,53057,39963,547
65,920
11,00111,927
13,29915,50715,60416,63417,606
17.867
14,99716,253
18,15222,00424,66426,32729,790
30, 551
Fin-ishedgoods
6,2066,040
6,3487,5658,1257,7498,143
9,1909,0569,6029,815
10,256
10,77612,33813,26214,43816,151
17,502
Nondurable goods industries
Total
12,83613,88113,261
15,53918,31517,40518,07017,902
18,66420,19520,14319,97520,868
21,45422,43023,60824,23024,950
25,99428,37529,29531,16832,384
34,112
Mate-rialsandsup-plies
8,3178,167
8,5568,9718,7758,6719,089
9,1139,4649,841
10,00310,185
10,48811,28911,26411,61711,821
12,260
Workin
process
2,4722,440
2,5712,7212,8642,8002,928
2,9353,1933,3043,4103,519
3,8234,2574,4824,8345,072
4,973
Seasonally adjusted
52,89053,36253,37953,68353,85854,799
54,85955,89056,60956,68555,88855,540
55,07055,61355,22354,53955,66156,438
57,02556,69656,47554,93654,068
29,35829,84229,64129,86229,70830,292
30,21031,54831,91431,68031,01130,603
29,93030,27329,75729,63330,48830,638
31,31531,27030,86329,36928,81529,925
23,53223,52023,73823,82124,15024,507
24,64924,34224,69525,00524,87724,937
25,14025,34025,46624,90625,17325,800
25,71025,42625,61225,56725,253
89,02789,63690,37191,03991,88592,193
93,04493,59094,22894,96495,47495,931
96,20096,65296,98297,79197,63597,706
98,26098,48898,65899,466
100,032
57,93158,31158,96859,42760,07460,505
61,35661,65362,10062,70463,08963,547
63,90963,97764,26364,68964,44764,395
65,07965,29065,32365,62865,920
16,76216,69916,98316,94017,02117,011
17,04516,95917,02417,10117,21717,606
17,66317,70217,69817,57017,44717,438
17,47017,62117,65217,70817,867
26,63626,93427,20827,42627,77728,092
28,72929,00729,29229,55229,69329,790
29,99829,96530,06030,30930,30830,263
30,60530,55530,53930,52230, 551
14,53314,67814,77715,06115,27615,402
15,58215,68715,78416,05116,17916,151
16,24816,31016,50516,81016,69216,694
17,00417,11417,13217,39817, 502
31,09631,32531,40331,61231,81131,688
31,68831,93732,12832,26032,38532,384
32,29132,67532,71933,10233,18833,311
33,18133,19833,33533,83834,112
11,51311,58511,56711,71611,77211,696
11,66011,74311,80311,99711,96611,821
11,64711,81811,93611,95011,92111,910
11,84911,85611,87712,11712,260
4,9725,0004,9444,9725,0044,945
4,9484,9855,0475,0785,0765,072
5,0765,0134,9584,9935,0135,002
4,9774,8964,8874,9404,973
Fin-ishedgoods
7,4097,415
7,6668,6228,6248,4988,857
9,3539,773
10,46310,81711,246
11,68312,82913, 54914,71715,491
16,879
14,61114,74014,89214,92415,03515,047
15,08015,20915,27815,18515,34315,491
15,56815,84415,82516,15916,25416,399
16,35516,44616,57116,78116,879
1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.> Data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau of the Census,
"Series M3-1.1," September 1968.* Based on seasonally adjusted data through November.
Source: Department of Commerce, Bureau of the Census.
247
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TABLE C-44.—Manufacturers' new and unfilled orders, 1947-70
[Amounts in millions of dollars]
Year or month
1947 _19481949 _._
195019511952 _19531954 __.
1955 .1956 . — -1957 ___19581959
19601961 *196219631964.
19651966196719681969
1970s
1969: JanFebMar .AprMayJune .
JulyAugSeptOctNovDec
1970: JanFebMarAprMay . . . . .June
JulyAugSept . .OctNov ?-- - - . .Dec v
New orders1
Total
15,25617,69215,614
20,11023,90723,20323,53322,313
27,42328,38327,51426,90130,679
30,11531,08633,00535,32237,952
41,80345,93845,92850,67054,933
54,958
Durable goodsindustries
Total
6,3888,1266,633
10,16512,84112,06112,10510,743
14,95415,38114,07313,17015,951
15,22315,69917,02518,52120,258
22,98625,70925,18927,94230,624
29,549
Pro-ducers'capitalgoodsindus-tries
2,0841,770
2,4992,8702,5662,3542,878
2,7912,8543,0903,4123,935
4,4355,2685,2505,8046,553
6,421
Non-dura-
blegoodsindus-tries
8,8689,5668,981
9,94511,06611,14211,42811,570
12,46913,00213,44113,73114,728
14,89215,38715,98016,80117,694
18,81720,22920,73922,72824, 309
25,410
Unfilled orders >
Total
34,41530,71724,506
43,05569,78575,64961,17848,266
60,00467,37553,18348,88254,494
46,13348,39547,30750,94058, 506
68,14680,94483,41086,71889,221
82,014
Dura-ble
goodsindus-tries
28,53226,60120,018
36,83865,83572,48058,63745,250
56,24163,88050,35245,73950,654
43,40145,24144,48547,95855,623
64,92077,86480,32183,66586,206
78,883
Non-dura-
blegoodsindus-tries
5,8834,1164,488
6,2173,9503,1692,5413,016
3 7633 4952,8313,1433,840
2,7323,1542,8222,9822,883
3,2263,0803,0893,0533,015
3,131
Unfilled orders-shipments ratio*
Total
3.42
3 633.873.352.602.85
2.582.522.462.402.49
2.622.902.802.742.59
Dura-ble
goodsindus-tries
4.12
4 274.554.003.493.44
3.213.012.952.892.99
3.123.483.363.323.11
Non-dura-
blegoodsindus-tries
0.96
1 121.04.85.55.88
.63
.72
.65
.63
.57
.60
.54
.51
.45
.42
Seasonally adjusted
53,45953,74053,74054,71554,62154,101
55,64155,77956,66956,43055,91255,138
54,11954,71454,33953,37455,13955,778
57,11155,96855,52354,19054,291
29,94230,19829,94930,85930, 50129,556
31,06331,46331,98631,43631,04830,209
29,04629,36828, 86128,44929,97730,028
31,39930, 53729,85628, 50429,00930,08d
6,3096,5276,4197,0526,5166,460
6,3976,2947,0866,3496,7446,536
6,5426,6275,9985,9846,3026,281
6,4116,2996,7596,5526,8736,224
23,51723,54223,79123,85624,12024, 545
24,57824,31624,68324,99424,86424,929
25,07325,34625,47824,92525,16225,750
25,71225,43125,66725,68625,282
87,28787,66588,02689,05889,82189,123
89,90589,79489,85489,59989,62389,221
88,27087,37186,48785,32284,79784,146
84,22983,49282, 54481,79782,014
84,24984,60584,91385,91086,70385,967
86,82086,73586,80786, 56386,60086,206
85,32284,41783,52182,33781,82481,221
81,30180,56179, 55978,69378,883
3,0383,0603,1133,1483,1183,156
3,0853,0593,0473,0363,0233,015
2,9482,9542,9662,9852,9732,925
2,9282,9312,9853.1043,131
2.662.642.662.662.692.63
2.632.622.582.542.572.59
2.582.542.552.532.472.44
2.392.392.342.382.42
3.213.173.203.203.233.16
3.183.153.083.053.093.11
3.133.073.083.072.972.95
2.902.882.812.872.92
.44
.45
.45
.45
.45
.45
.42
.43
.43
.42
.42
.42
.43
.43
.43
.44
.44
.42
.41
.43
.43
.45
.46
i Monthly average for year and total for month.> Seasonally adjusted, end of period.3 Ratio of ui,filled orders at end of period to shipments for period; excludes industries with no unfilled orders. Annual
figures relate to seasonally adjusted data for December.* Data prior to 1961 not completely comparable with later data. Comparable data for new orders (total, durable, and non-
durable) are available for 1958, 1959, and 1960 only. See Department of Commerce, Bureau of the Census, "SeriesM3-1.1," September 1968, for these data.
• Based or seasonally adjusted data through November.
Source: Department of Commerce, Bureau of the Census.
248
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRICESTABLE C-45.-—Consumer price indexes, by major groups, 1929-70
For city wage earners and clerical workers
[1967=100]
Year or month Allitems
51.350.045.640.938.840.141.141.543.042.241.642.044.148.851.852.753.958.566.972.171.472.177.879.580.180.580.281.484.386.687.388.789.690.691.792.994.597.2
100.0104.2109.8116.1106.7107.1108.0108.7109.0109.7110.2110.7111.2111.6112.2112.9113.3113.9114.5115.2115.7116.3116.7116.9117.5118.1118.5
Food
48.3
45.937.831.530.634.136.536.938.435.634.635.238.445.150.349.650.758.170.676.673.574.582.884.383.082.881.682.284.988.587.188.089.189.991.292.494.499.1
100.0103.6108.9114.9105.9105.8106.3106.9107.4108.9110.0110.6110.7110.4111.2112.8113.5114.1114.2114.6114.9115.2115.8115.9115.7115.5114.9
Housing
Total
49.350.051.752.652.252.453.756.256.858.159.160.665.269.870.972.877.278.780.881.782.383.686.287.788.690.290.991.792.793.894.997.2
100.0104.2110.8118.6107.3107.9108.8109.6110.1110.5111.1111.8112.5113.0113.6114.2114.7115.7116.9117.6118.2118.6119.2119.9120.6121.2121.9
Rent
76.0
73.970.062.854.150.750.651.954.256.056.056.257.258.558.558.658.859.261.165.168.070.473.276.280.383.284.385.987.589.190.491.792.994.095.095.996.998.2
100.0102.4105.7109.8104.0104.3104.5104.8105.1105.4105.7106.1106.5106.9107.2107.7107.9108.4108.8109.1109.4109.8110.1110.5110.9111.4111.8
Appareland
upkeep
48.5
47.543.238.236.940.440.841.143.243.042.442.844.852.354.658.561.567.578.283.380.179.086.185.384.684.584.185.887.387.588.289.690.490.991.992.793.796.1
100.0105.4111.5115.8108.2108.7109.6110.2111.1111.4111.2111.1112.9113.9114.6114.7113.4114.0114.6115.0115.7116.0115.3115.4117.2118.2119.0
Trans-porta-tion
42.643.043.744.043.042.744.248.147.947.947.850.355.561.866.468.272.577.379.578.377.478.883.386.089.689.690.692.593.094.395.997.2
100.0103.2107.2112.3104.1105.3107.2107.5107.0107.5107.2107.2106.6108.5108.4109.1109.8109.8109.7111.2112.1112.7113.4112.7113.0115.2116.0
Medicalcare
36.136.336.636.736.736.837.038.039.941.142.144.448.151.152.753.756.359.361.463.464.867.269.973.276.4
79.181.483.585.687.389.593.4
100.0106.1113.4120.3109.9110.7111.6112.4113.0113.5114.0114.7115.3114.8115.1115.7116.3117.1118.2119.1119.7120.5121.3122.0122.6122.8123.4
Personalcare
36.937.439.640.440.340.241.245.249.953.455.159.066.068.568.368.374.775.676.376.677.981.184.186.988.790.190.692.293.494.595.297.1
100.0104.2109.3113.0107.1107.4108.1108.7108.9109.3109.6109.8110.2110.2110.6110.9111.3111.7112.2112.4112.8112.7113.1113.7114.0114.4114.5
Readingand
recrea-tion
41.842.543.745.245.346.147.750.054.160.062.464.568.772.274.974.476.676.977.776.976.777.880.783.985.387.389.391.392.895.095.997.5
100.0104.7108.7113.1106.9106.9107.2107.9108.4108.6108.8109.2109.6109.9110.2110.5110.8110.9111.2111.9112.6113.3113.7114.2114.7115.2116.0
Othergoodsand
services
44.644.545.746.146.948.349.250.753.354.756.958.863.866.868.769.972.876.678.579.879.881.083.384.486.187.888.589.190.692.094.297.2
100.0104.6109.1115.7106.3106.4106.7107.1107.4108.2109.2110.1111.1111.8112.6112.9113.3113.6114.0114.7115.1115.7116.2116.8117.4118.0118.3
192919301931193219331 9 3 4 . . . . . .19351936193719381939
1940194119421943.194419451946194719481949
1950195119521953195419551956195719581959196019611962196319641 9 6 5 . . . . . .19661967195819891970i
1969: Jan..Feb.Mar-Apr.May.June.
July.Aug.Sept.Oct..Nov.Dec.
1970: Jan.Feb.Mar.Apr.May.June
July.Aug.Sept.Oct..Nov.
* Eleven-month average.
Note.—The indexes in this table were converted to a 1967 base from the Bureau of Labor Statistics indexes publishedon a 1957-59 base.
Source: Department of Labor, Bureau of Labor Statistics.
249
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-46.—Consumer price indexes, by special groups, 1935-70
For city wage earners and clerical workers
[1967=100]
Year ormonth
1935..1936..1937.1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
19501951..1952..1953..1954..1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..1965..1966..1967..1968..1969..
1970 i.
1969: JanF e b . - - .Mar.__.AprMayJune
JulyAugS e p t . . . .OctNovDec
1970: JanFebMarAprMayJune
JulyAugSeptOctNov
Allitems
41.141.543.042.241.6
42.044.148.851.852.753.958.566.972.171.4
72.177.879.580.180.580.281.484.386.687.3
88.789.690.691.792.994.597.2
100.0104.2109.8
116.1
106.7107.1108.0108.7109.0109.7
110.2110.7111.2111.6112.2112.9
113.3113.9114.5115.2115.7116.3
116.7116.9117.5118.1118.5
Allitemslessfood
44.945.447.047.547.2
47.348.752.153.655.756.959.464.969.670.3
71.175.777.579.079.579.781.183.885.787.3
89.90.92.93.94.96.
100.104.110.
116.4
106.9107.5108.6109.2109.5109.9
110.3110.7111.3112.0112.5112.9
113.3113.9114.6115.4116.0116.5
117.0117.2118.0118.9119.6
Allitemsless
shel-ter
39.840.341.640.439.7
39.942.447.751.352.253.659.068.573.972.6
73.179.280.881.081.080.681.784.486.987.6
114.2
106.2106.6107.3107.9108.2109.0
109.3109.7110.1110.5111.0111.7
112.0112.4112.8113.5114.0114.4
114.8114.9115.4116.0116.3
Commodities
AllMil
com-modi-ties
40.541.042.641.040.2
40.643.349.654.054.756.362.475.080.478.3
78.885.987.086.785.985.185.988.690.690.7
91.592.092.893.694.695.798.2
100.0103.7108.4
113.3
105.6105.9106.7107.3107.6108.4
108.8109.2109.4110.1110.5111.2
111.2111.7112.0112.6113.1113.5
113.8113.8
i 114.2' 114.8
115.1
Food
36.536.938.435.634.6
35.238.445.150.349.650.758.170.676.673.5
74.582.884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1
100.0103.6108.9
114.9
105.9105.8106.3106.9107.4108.9
110.0110.6110.7110.4111.2112.8
113.5114.1114.2114.6114.9115.2
115.8115.9115.7115.5114.9
Commodities less food
All
46.046.548.548.547.7
48.050.456.05g.461.664.168.176.882.781.5
81.487.588.388.587.586.987.890.591.592.7
93.193.494.194.895.696.297.5
100.0103.7,108.1
112.3
105.3106.0107.0107.3107.6108.1
108.2108.2108.7109.7110.1110.2
110.0110.3110.6111.4112.0112.5
112.5112.6113.4114.5115.1
Dura-ble
45.245.848.749.648.5
48.151.458.460.365.970.974.180.386.287.4
88.495.196.495.793.391.591.594.495.997.3
96.796.697.697.998.898.498.5
100.0103.1107.0
111.4
104.1105.2106.5106.8106.7107.1
107.3107.3107.0108.5108.8108.9
109.0109.0109.4110.1111.1111.9
112.1112.2112.5113.9114.7
Non-dura-ble
43.143.545.345.044.3
44.746.751.653.856.658.662.972.277.876.3
76.282.082.483.183.583.585.387.688.289.3
90.791.291.892.793.594.897.0
100.0104.1108.8
112.9
106.2106.5107.3107.8108.2108.8
108.8109.0110.0110.6111.0111.1
110.7111.2111.5112.3112.7112.9
113.0113.0114.1114.9115.4
Tntollotainon-
dura-ble
39.039.641.139.238.4
38.941.647.651.852.253.759.671.977.274.9
75.482.583.483.283.282.583.786.388.688.2
89.490.290.992.093.094.698.1
100.0103.9108.9
113.9
106.1106.2106.8107.5107.9108.9
109.4109.8110.4110.6111.1112.0
112.1112.6112.9113.4113.9114.0
114.4114.5114.9115.2115.3
Services
Allservices
40.941.342.643.443.5
43.644.245.646.447.548.249.151.154.356.9
58.761.864.567.369.570.972.775.678.580.8
83.585.286.888.590.292.295.8
100.0105.2112.5
121.3
108.8109.4110.3111.2111.7112.2
112.8113.5114.3114.7115.3116.1
117.1118.0119.3120.1120.7121.4
122.0122.7123.5124.1124.9
Rent
50.651.954.256.056.0
56.257.258.558.558.658.859.261.165.168.0
70.473.276.280.383.284.385.987.589.190.4
91.792.994.095.095.996.998.2
100.0102.4105.7
109.8
104.0104.3104.5104.8105.1105.4
105.7106.1106.5106.9107.2107.7
107.9108.4108.8109.1109.4109.8
110.1110.5110.9111.4111.8
Allserv-iceslessrent
37.637.437.838.138.1
38.138.640.342.144.245.146.749.051.954.5
56.059.362.264.866.768.270.173.376.479.0
81.983.985.587.389.291.595.3
100.0105.7113.8
123.4
109.8110.3111.4112.4113.0113.5
114.1115.0115.7116.2116.8117.7
118.8119.8121.2122.1122.8123.5
124.2124.9125.8126.5127.3
* Eleven-month average.
Note.—The indexes in this table were converted to a 1967 base from the Bureau of Labor Statistics indexes publishedon a 1957-59 base.
Source: Department of Labor, Bureau of Labor Statistics.
250
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-47.—Consumer price indexes, selected commodities and services, 1935—70
For city wage earners and clerical workers
[1967=100]
Year ormonth
Durable commodities
Total i Newcars
UsedHouse-
holddura-bles
Housefur-nish-ings
Nondurable commod-ities less food
Total
Apparelcom-mod-ities
Non-dura-bleslessfoodand
apparel
Services less rent
Total
House-holdserv-iceslessrent
Trans-porta-tion
serv-ices
Med-ical
careserv-ices
Other 2
19351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960...1961...1962...1963.. .1964...1965...1966...1967...1968.. .1969...
1970*..
1969: J a n . . .F e b . . .M a r . . .A p r . . .M a y . . .J u n e . .
Ju ly . . .A u g . . .S e p t . .O c t . . .N o v . . .D e c . . .
1970: J a n . . .F e b . . .M a r . . .Apr__.M a y . . .J u n e . .
Ju ly . . .A u g . . .S e p t . .O c t . . .N o v . . .
45.245.848.749.648.5
41.141.442.244.243.2
52.153.157.757.756.6
47.648.452.452.050.9
43.143.545.345.044.3
41.341.844.143.743.0
45.445.947.046.946.3
37.637.437.838.138.1
48.151.458.460.365.970.974.180.386.287.4
88.495.196.495.793.391.591.594.495.997.3
96.796.697.697.998.898.498.5
100.0103.1107.0
111.4
104.1105.2106.5106.8106.7107.1
107.3107.3107.0108.5108.8108.9
109.0109.0109.4110.1111.1111.9
112.1112.2112.5113.9114.7
43.346.6
55.959.866.9
69.275.682.8
83.487.494.995.894.390.993.598.4
101.5105.9
104.5104.5104.1103.5103.2100.999.1
100.0102.8104.4
107.0
104.3104.3104.4103.9103.8103.8
103.6103.0101.4106.2107.1106.9
106.7106.6106.4106.3106.1105.8
05.7105.5105.1110.8112.5
89.275.971.869.177.480.289.5
83.686.994.896.0
100.199.497.0
100.0
103.8
95.1100.9107.4108.0104.4105.5
104.5103.299.9
103.5102.8102.0
99.397.096.899.7
104.9108.6
108.5106.3104.9107.2108.8
69.576.081.886.595.6
101.799.0
100.2109.8106.9105.7102.9100.199.7
101.4102.1102.0
101.9100.7100.6100.3100.298.798.6
100.0103.3107.4
110.1
105.2105.6106.3106.9107.5107.7
107.9107.9108.1108.4108.5108.5
108.6108.9109.4109.8110.0110.2
110.3110.4110.6111.0111.4
50.554.061.463.168.673.380.092.798.394.9
95.5106.0103.4102.9101.199.298.199.799.099.0
99.398.798.197.797.697.198.0
100.0103.9108.1
111.3
105.8106.3106.9107.4107.9108.1
108.4108.5109.0109.3109.5109.7
109.6110.2110.8111.1111.3111.5
111.6111.5111.8112.2112.7
44.746.751.653.856.658.662.972.277.876.3
76.282.082.483.183.583.585.387.688.289.3
90.791.291.892.793.594.897.0
100.0104.1108.8
112.9
106.2106.5107.3107.8108.2108.8
108.8109.0110.0110.6111.0111.1
110.7111.2111.5112.3112.7112.9
113.0113.014.1
114.9115.4
43.545.853.555.959.863.069.580.485.482.0
81.188.787.786.786.385.887.388.288.289.0
90.390.891.292.092.893.696.0
100.0105.6111.9
116.2
108.5108.9110.0110.5111.5111.9
111.7111.4113.4114.4115.4115.3
113.8114.4115.0115.4116.1116.3
115.5115.6117.6118.8119.7
46.848.451.153.254.755.858.266.272.372.4
72.977.579.081.081.882.184.187.488.389.6
90.991.392,193.193.995.597.5
100.0103.3107.0
111.0
104.9105.1105.8106.3106.4107.0
107.3107.6108.0108.4108.4108.8
108.9109.4109.5110.5110.8111.0
111.6111.6112.0112.6113.0
38.138.640.342.144.245.146.749.051.954.5
56.059.362.264.866.768.270.173.376.479.0
81.983.985.587.389.291.595.3
100.0105.7113.8
123.4
109.8110.3111.4112.4113.0113.5
114.1115.0115.7116.2116.8117.7
118.8119.8121.2122.1122.8123.5
124.2124.925.8
126.5127.3
71.275.479.481.6
85.086.087.189.090.492.195.7
100.0105.9115.3
126.3
110.1110.7112.2113.5114.2114.7
115.7116.7117.7118.4119.2120.0
120.6122.0124.2125.3126.0126.5
127.2128.1129.1129.8130.7
36.336.035.736.036.1
36.136.338.238.238.238.239.040.344.950.0
53.358.362.466.469.269.470.573.878.581.2
83.385.386.687.589.692.996.8
100.0104.0111.3
122.7
108.4108.9109.7110.1110.4110.8
111.0111.4112.1113.0113.6115.6
119.1120.0120.3121.1121.6122.4
123.5123.8124.8125.9126.9
31.831.932.332.432.5
32.532.733.735.436.937.940.143.546.448.1
49.251.755.057.058.760.462.865.568.772.0
74.977.780.282.684.687.392.0
100.0107.3116.0
123.8
111.8112.8113.9114.8115.5116.1
116.8117.5118.3117.6118.0118.7
119.4120.3121.6122.5123.1124.0
124.9125.8126.5126.7127.5
71.173.976.278.0
80.883.485.687.790.192.696.2
100.0105.6110.6
116.4
108.2108.5108.9109.7110.0110.4
110.8111.4111.9112.2112.7113.2
113.6113.9114.3115.1115.8116.7
117.0117.5118.1118.8119.1
i Includes certain items not shown separately.-' Includes the services components of apparel, personal care, reading and recreation, and other goods and services.3 Not available.4 Eleven-month average.
Note.—The indexes in this table were converted to a 1967 base from the Bureau of Labor Statistics indexes publishedon a 1957-59 base.
Source: Department of Labor, Bureau of Labor Statistics.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-48.—Wholesale price indexes, by major commodity groups, 1929-70
[1967=1001
Year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
19601961196219631964196519661967 --.19681969
1970
1969: JanFebMarAprMayJune
JulyAug . . -SeptOctNovDec
1970: JanFebMarAprMayJune
JulyAugSeptOctNovDec
All com-modities
49.1
44.637.633.634.038.641.341.744.540.539.8
40.545 150.953.353.654.662.376.582.878.7
81.891.188.687.487.687.890.793 394.694.8
94.994.594.894.594 796.699.8
100.0102.5106.5
110.4
104.3104.7105.3105.5106.3106.7
106.8106.9107.1107.4108.1108.5
109.3109.7109.9109.9110.1110.3
110.9110.5111.0111.0110.9111.0
Farmproducts
64.1
54.239.729.531.440.048.149.552.942.040.0
41.450.364.875.075.578.590.9
109.4117.5101.6
106.7124.2117.2106.2104.798.296.999 5
103.997.5
97.296.398.096.094.698.7
105.9100.0102.5108.8
111.0
105.2105.3106.8105.9110.8111.5
110.8109.2108.7108.2111 4112.0
112.8114.0114.6111.6111.3111.6
113.4108.5112.1107.8107.0107.1
Processedfoods and
feeds
82.988.780.6
83.492.791.687.488.985.084.987.491.889.4
89.591.091.992.592.395.5
101.2100.0102.2107.3
112.0
103.8104.1104.2105.0106.9108.7
109.2108.8108.6108.9109.0109.8
112.0112.1111.8111.8111.1111.7
113.3112.9113.0111.8111.7110.7
Total
48.6
45.239.937.337.841 641.442.245.243.443.3
44 047.350.751.552.353.058.070.876.975.3
78.086.184.184.885.086.990.893 393.695.3
95.394.894.894.795.296.498.5
100.0102.5106.0
110.0
104.3104.8105.4105.5105.6105.6
105.7106.1106.5107.1107.4107.8
108.3108.7108.9109.3109.7109.8
110.0110.2110.4111.3111.3111.7
Industrial commodities
Textileproducts
andapparel
103.6108.198.9
102.7114.6103.4100.898.698.798.798 897.098.4
99.597.798.698.599.299.8
100.1100.0103.7105.9
107.2
105.3105.1105.0105.0104.*105.1
105.6106.6106.9107.0107.1107.1
107.4107.3107.4107.2107.2107.2
107.1107.4107.5107.3107.1106.7
Hides,skins,
leather,and
relatedproducts
48.9
44 938 632.836.338.840 242 746 941.642.8
45.248 452 852 752.252.961 183.384.279.9
86.399.180.181.377.677.381.982.082.994.2
90.891.792.790.090.394.3
103.4100.0103.2108.6
110.1
106.6106.6106.6108.8108.9108.5
109.2109.2110.7110.0109.5109.2
109.3109.4109.5111.0110.4109.9
109.8109.8109.9110.4110.9110.4
Fuels andrelated
products,and
power
59.4
56 248 350.347.652.452 654 555.554.652.3
51.454 656.257.859.560.164.476.990.586.2
87.190.390.192.691.391.294.099.195.395.3
96.197.296.796.393.795.597.8
100.098.9
101.0
105.9
98.899.1
100.6100.9100.9101.4
101.4101.1101.1101.7101.8102.4
101.9102.7102.6103.8105.3104.8
105.1105.8107.1108.7109.7112.8
Chemicalsand alliedproducts
47.449.651 752 054 551.851.5
52.457 063 364.164.865.270 593.795.987.6
88.9101.796.597.798.998.599.1
101.2102.0101.6
101.8100.799.197.998.399.099.4
100.099.899.9
102.2
99.299.499.699.599.799.9
99.8100.3100.5100.2100.5100.4
100.7101.1101.6102.0102.2102.1
102.5102.7102.5103.0103.3103.3
See footnotes at end of table.
252
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-48.— Wholesale price indexes, by major eomtnodity groups, 1929—70—Continued11967 100|
Year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953.195419551956195719581959
1960196119621963196419651966196719681969
1970
1969: Jan..Feb..Mar.Apr..May.June.
July.Aug.Sept.Oct..Nov.Dec.
1970: Jan..Feb..Mar.Apr-May.June.
July.Aug..Sept.Oct..Nov.Dec.
Rubberand
plasticproducts
59.4
52.044.238 340.247.047.351.060.058.961.2
57.161.571.673.672.770.570 870.572.870.585.9
105.495.589.190.4
102.4103.8103.4103.3102.9103.199.296.396.895.595.997.8
100.0103.4105.4108.6103.2103.7104.1104.4104.3104.4105.8106.3106.0106.8107.7107.8108.0107.9107.7107.5107.5107.4109.0109.7109.4109.5109.1109.4
Lumberand
woodproducts
25.0
22.918.616.019.022.321.422.426.524.124.8
27.432.735.637.740.641.247.273.484.077.789.397.294.494.392.697.198.593.592.498.895.391.091.693.595.495.9
100.2100.0113.3125.2113.7130.7137.1141.8136.0130.9123.1118.9117.6116.9116.3117.6116.2115.4114.0113.4113.9114.8114.0113.5114.0114.2113.1111.9111.1
Industrial cc
Pulp,paper,and
alliedproducts
72.575.772.474.388.085.785.585.587.893.695.496.497.398.195.296.395.695.496.298.8
100.0101.1104.2108.2
102.3102.9103.5104.0104.1104.3104.4104.7104.8105.0105.3105.5107.0107.7108.0108.4108.2108.1108.4108.2108.3108.9108.7108.5
Metalsand
metalproducts
40.2
36.232.629 930.733.933.834 539.438.037.6
37.838.539.139.039.039.644 354.962.563.066.373.873.976.376.982.189.291.090.492.392.491.991.291.393.896.498.8
100.0102.6108.5116.7104.4105.1105.7106.3107.2107.6108.3109.9111.0111.7112.1113.0114.0115.1115.9116.6117.4117.8117.7117.5117.4117.7116.8116.2
)mmo(lities
Machin-ery andequip-ment
41.3
41.442.142.842.442.142.246.453.758.261.063.170.570.672.273.475.781.887.689.491.392.091.992.092.292.893.996.8
100.0103.2106.4
111.4104.7104.9105.4105.5105.8106.1106.4106.5107.2107.8108.2109.0
109.6109.8110.1110.4110.6111.0111.5111.611?. 1112.7113.1113.8
-Continued
Furni-ture andhouse-hold
durables
55.8
54.950.544.544.648.548.148.854.152.852.6
53.857.261.861.463.163.267 177.081.682.984.791.890.191.992.993.395.898.399.199.399.098.497.797.097.496.998.0
100.0102.8104.9107.5
104.2104.3104.5104.6104.7104.7104.9105.0105.2105.3105.7106.0
106.3106.7106.9107.1107.1107.4
107.6107.7107.8108.0108.4108.7
Nonme-tallic
mineralproducts
51.2
51 047.744.647.250.450.450 551.750.049.1
49.150.252.352.453.555.759.366.371.673.575.480.180.183.385.187.591.394.895.897.097.297.697.697.197.397.598.4
100.0103.7108.1113.3106.0106.6107.3107.7108.0108.1108.3108.3108.8109.1109.2109.8111.7112.1112.5112.9113.0113.0113.2113.6113.8114.2114.6115.1
Trans-portationequip-ment:Motor
vehiclesand
equip-ment i
41.9
39 437.536 534! 836.735 234^937.439.939.1
40.443.247.247 247.548.356.064.170.875.775.379.484.083.683.886.391.295.198.1
100.398.898.698.697.898.398.598.6
100.0102.8104.7108.5
104.2104.1104.0104.1104.2104.3104.3103.7103.8106.4106.7106.7
106.8106.8107.0106.9107.0107.1107.0107.1107.311?.5112.8113.4
Miscel-laneous
products
73.576.578.0
79.283.983.485.686.486.587.690.292.092.2
93.093.393.794.595.295.997.7
100.0102.2104.9
109.9
102.9102.9102.9103.1103.2105.3105.7106.0106.5106.8107.0107.0
107.4107.5107.8107.8108.1110.7
111.1111.2111.5111. 6111.8111.9
1 Index for total transportation equipment is not shown but is available beginning December 1968.Source: Department of Labor, Bureau of Labor Statistics.
411-364 O—71- -17253
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-49.—Wholesale price indexes, by stage of processing, 1947-70
[1967=100]
Year or month
1947.1948.1949
1950.195119521953.1954.
19551956.1957.19581959.
196019611962.19631964
19651966.1967.19681969
1970
1969*
1970
Jan..FebMarApr .MayJune
JulyAugSeptOctNov. . .Dec
JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allcom-modi-ties
76.582.878.7
81.891 188.687.487.6
87.890.793.394 694.8
94 994 594.894 594 7
96 699.8
100.0102 5106.5
110 4
104.3104 7105 3105.5106.3106.7
106.8106.9107.1107.4108.1108.5
109.3109.7109.9109.9110.1110.3
110.9110.5111.0111.0110.9111.0
Crude materials
Total
101.2110.996.0
104.6120.1110.3101.9101.0
97.197.699.8
102.099.4
97.096.597.595.494.5
99.3105.7100.0101.6108.3
112.2
103.2104.2105.6106.1110.1111.6
110.6109.9109.1109.1109.4110.3
111.1113.5114.7113.9113.3113.5
114.3111.3113.0111.3108.7108.6
Food-stuffsand
feed-stuffs
111.7120.8100.3
107.6124.5117.2104.9104.9
95.193.197.2
103.096.2
95.193.895.792.990.8
97.1105.9100.0101.3109.1
112.1
103.3104.6106.3106.3112.2114.2
112.5110.8109.1109.2109.7110.9
111.6114.1115.9113.9113.0113.4
115.2111.1113.0110.1106.9106.3
Non-foodmate-rials,
exceptfuel
90.6100.791.6
104.7120.7104.6100.198.2
103.8107.6106.2102.2105.8
101.4102.5102.0100.7102.4
104.5106.7100.0102.1106.8
109.8
102.5102.9104.2105.9106.6106.9
107.4109.0109.7108.9108.9109.1
110.3111.9111.6112.0111.9110.9
109.3108.5108.8108.5106.7107.7
Fuel
66.678.778.3
77.979.479.982.779.0
78.884.489.290.391.9
92.892.692.193.292.8
93.596.3
100.0102.3106.4
122.3
104.7104.4104.8105.2105.3105.7
106.0106.1106.9108.5109.6110.0
110.6112.9113.3119.0119.3121.6
123.0123.9126.4132.3132.0132.9
Intermediate materials, supplies, and components1
Total
72.478.375.2
78.688.185.586.086.5
88.192.094.194.395.6
95.695.094.995.295.5
96.899.2
100.0102.3105.9
109.8
104.3104.8105.5105.5105.5105.5
105.5106.0106.4106.8107.1107.5
108.3108.6108.7109.2109.6109.8
110.2110.4110.6110.9110.9111.0
Materials and components formanufacturing
Total For foodmanu-factur-
ing
72.177.874.5
78.188.584.886.286.3
88.492.694.895.296.5
96.595.394.794.995.9
97.499.3
100.0102.2105.8
110.0
103.6104.2104.7104.9105.3105.4
105.6106.4106.8107.2107.5107.8
108.5108.8109.3109.8110.1110.2
110.5110.6110.5110.8110.6110.3
Materials
94.096.983.3
86.796.692.993.092.2
89.389.791.393.490.0
91.194.092.096.695.2
97.6101.9100.0101.5107.0
112.9
103.2103.6103.8104.5106.5107.9
107.9108.4108.3109.2109.9
Fornon-
durablemanu-factur-
ing
95.2100.891.9
96.5111.8100.699.898.2
98.6100.1101.4100.4102.1
102.199.999.398.499.1
100.0100.8100.0101.3102.5
104.0
101.8101.9102.0102.1102.2102.4
102.5103.0103.0102.8103.0
Fordurablemanu-factur-
ing
109.8
110.9111.3112.5113.0112.2112.6
113.8113.7113.6114.0114.5112.5
102.9
103.6103.6103.7104.1104.2103.7
104.0104.2103.9104.1103.9104.0
54.461.463.1
66.774.174.377.679.3
83.388.591.492.094.2
94.393.092.993.094.8
96.898.6
100.0103.3109.3
115.1
106.2107.3108.2108.5108.7108.3
108.6109.8110.6111.0111.4112.3
113.0113.5114.2115.2116.0116.2
116.1115.9115.4115.6115.0114.3
Com-ponents
58.363.064.2
66.675.675.777.177.5
80.988.391.892.593.6
93.192.291.591.592.3
93.897.1
100.0102.3105.6
111.1
103.2103.6104.1104.3104.7105.0
105.5105.8106.6107.5108.1108.3
109.0109.3109.5109.9110.2110.8
111.4111.9112.6113.0113.0113.3
Mate-rialsand
com-ponentsfor con-struc-tion
66.073.173.2
77.084.383.785.185.5
88.993.594.094.096.6
95.994.694.294.595.4
96.298.8
100.0104.9110.9
112.6
110.3112.2113.6112.3111.6110.1
109.5109.6109.9110.2110.7110.8
111.3111.3111.7112.1112.5112.8
113.0113.5113.6113.6113.1113.1
See footnotes at end of table.
254
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-49.—Wholesale price indexes, by stage of processing, 1947-70—Continued
(1967=100]
Year or month
194719481949
19501951195219531954
19551956195719581959
1960196119621963 . . .-1964
19651966196719681969
1970
1969:JanFebMarAprMay. . .June.. . .
JulyAug.SeptOctNovD e c .
1970:JanFebMarAprMayJune.
July . . .AugSeptOctNovDec
Total
74.079.977.6
79.086.586.085.185.3
85.587.991.193.293.0
93.793.794.093.794.1
95.798.8
100.0102.9106.6
110.4
104.6104.7105.1105.2106.0106.7
107.1106.9107.2107.7108.7109.1
109.8109.8110.0109.6109.7110.0
110.6110.1110.8110.9111.4111.5
Finishec1 goods
Consumer finished goods
Total
80.586.582.5
83.991.890.789.289.1
88.589.892.494.493.6
94.594.394.694.194.3
96.199.4
100.0102.7106.5
109.9
104.5104.4104.9105.0106.1106.7
107.3106.9107.2107.6108.6108.9
109.6109.6109.7109.2109.3109.6
110.3109.5110.4110.1110.5110.5
Foods
82.890.483.1
84.795.294.389.488.7
86.586.389.394.590.1
92.191.792.591.491.9
95.4101.6100.0103.7109.9
113.4
106.7106.3106.9106.8109.7110.8
111.7110.7111.1110.7113.2113.7
115.4115.0115.1113.3112.9113.4
115.0112.6114.2111.3112.0111.0
Othernon-
durablegoods
80.785.882.3
83.690.087.888.688.9
89.491.193.292.694.0
94.794.794.895.194.8
95.997.8
100.0102.2104.8
108.2
103.0103.3103.7104.0103.9104.7
105.0105.4105.7106.0106.2106.4
106.5106.9107.0107.2107.8108.1
108.2108.6109.0109.2109.5110.4
Du-rablegoods
74.679.781.8
82.788.288.989.690.3
91.294.397.198.499.6
99.298.898.397.898.2
97.998.5
100.0102.2104.0
107.1
103.3103.3103.5103.6103.6103.7
103.8103.4103.5105.1105.3105.4
105.6105.8106.0106.0106.2106.3
106.5106.5106.6109.7109.9109.9
Pro-ducer
finishedgoods
55.460.463.4
64.971.272.473.674.5
76.782.487.589.891.5
91.791.892.292.493.3
94.496.8
100.0103.5106.9
111.9
105.4105.6105.7105.8106.2106.4
106.9106.9107.4108.2108.9109.6
110.1110.3110.7110.8111.1111.3
111.6111.9112.3113.8114.2115.1
Special groups of industrialproducts
Crudemate-rials 2
79.292.584.0
93.6102.993.192.488.0
96.6102.3100.996.9
102.3
98.397.295.694.397.1
100.9104.5100.0102.0110.5
118.8
105.0105.5107.2109.0109.7110.2
110.7112.5113.9113.7114.1114.5
116.0118.5118.5120.3120.0119.5
118.0117.2118.7120.6118.2119.8
Inter-mediate
materials,supplies,and com-ponents >
70 076.174.2
77.787.084.385.385.7
88.392.695.094.896.4
96.895 595.395.095.6
96.998.9
100.0102.6106.2
110.0
104.7105.3106.0105.9106.0105.7
105.8106.2106.7107.1107.4107.7
108.3108.7109.0109.4109.9110.1
110.3110.5110.7111.0111.0111.0
Con-sumer
finishedgoods ex-
cludingfoods
79.084.082.2
83.589.588.389.189.4
90.192.394.694.795.9
96.396.296.096.095.9
96.698.1
100.0102.1104.5
107.7
103.0103.3103.6103.8103.8104.3
104.6104.7104.8105.6105.8106.0
106.2106.4106.6106.7107.1107.3
107.5107.7108.0109.4109.6110.2
» Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies,s Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.3 Excludes intermediate materials for food manufacturing and manufactured animal feeds.
Note.—For a listing of the commodities included in each sector, see monthly report, "Wholesale Prices and PriceIndexes," January-February 1967.
Source: Department of Labor, Bureau of Labor Statistics.
255
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—50.—Percentage changes from previous month in indexes for major groupings of theconsumer price index, 1968-70
(Percent]
Year and month
1968: Jan .FebMarApr.. . . .MayJune
JulyAugSept . .OctNovDec
1969: JanFeb .MarApr..May.... _.June
July.. . .Aug .SeptOct . .NovDec
1970: JanFeb.MarAprMayJune.
JulyAugSeptOctNov . ....
All items
Un-adjusted
0.3.3.4.3.3.5
.5
.3
.2
.6
.4
.2
.3
.4
.8
.6
.3
.6
.5
.4
.5
.4
.5
.6
.4
.5
.5
.6
.4
.4
.4
.2
.4
.6
.3
Season-ally
adjusted
0.5.4.3.3.4.4
.4
.4
.3
.5
.4
.3
.5
.4
.7
.5
.4
.5
.4
.4
.6
.3
.5
.6
.6
.5
.4
.5
.5
.3
.3
.5
.5
.3
Food
Un-adjusted
0.73
.4
.3
.43
.8
.4- . 1
.4- . 3
.6
.71
.4
.7
.41.5
1.0.6. 1
- . 2.7
1.4
.6
.6
.1
.3
.3
.2
.5
.1- . 1- . 2- . 5
Season-ally
adjusted
0.5.4.6.3.5
- . 3
.3
.3
.4
.8
.1
.5
.4
.0
.6
.7
.5
.8
.5
.5
.6
.11.11.3
.4
.8
.2
.3
.4- . 4
.1- . 1
.4
.11
Commodities less food
Un-adjusted
0.13
.4
.3
.3
.4
.2
.3
.4
.7
.5- . 1
- . 2.6
1.0.3.3.4
.1
.1
.4
.9
.3
.1
- . 2.2.3.7.6.4
.1
.1
.71.0.6
Season-ally
adjusted
0.5.3.3.2.3.4
.3
.4
.3
.4
.3
.2
.3
.9
.3
.3
.4
.2
.2
.3
.5
.2
.4
.3
.1
.2
.6
.6
.4
.2
.2
.6
.6
.4
Services *
Un-adjusted
0.54
.6
.3
.4
.7
.7
.4
.4
.4
.6
.5
.7
.5
.9
.8
.5
.4
.5
.7
.7
.3
.7
.9
.71.1.7.5.6
.5
.6
.6
.5
.6
i Percentage changes for services are based on unadjusted indexes since these prices have little seasonal movement.
Note.—The percentage changes are calculated from indexes on a 1957-59 base; therefore, the unadjusted changes maydiffer slightly from those calculated from indexes on a 1967 base as shown in Table C-46. The seasonally adjusted changesfor the all items index are based on seasonal adjustment factors and seasonally adjusted indexes carried to two decimalplaces.
Source Department of Labor, Bureau of Labor Statistics.
256
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-51.—Percentage changes from previous month in indexes for major groupings of thewholesale price index, 1968-70
[Percent]
Year and month
1968: JanFebMar . .AprMay,June
JulyAugSeptOctNovDec.
1969: JanFebMarApr... .MayJune
July.Aug...SeptOctNovDec.-..
1970: JanFebMar.AprMayJune
JulyAugSeptOctNovDec
All commodities
Unad-justed
0.4
.2
.0
.3
.1
.4- . 4
.0
.4
.3
.7
.4
.5
.2
.8
.4
.1
.1
.2
.4
.6
.8
.3
.2
.0
.2
.2
.6- . 4
.5
.0—.1
.1
Season-ally
adjusted
0.16
.2
.1
.0
.3
.0
.5
.2
.4
.2
.5
.2
.6
.4
.6
.3
.1
.6
.3
.5CM
CO
CM
O
.1
.6- . 1
.5
.2—.1
.0
Farm productsand processedfoods andfeeds
Unad-justed
0.51.4.1
- . 11.1.1
1.2
'.S- 1 . 0
.9
.1
1.2.2.6.2
2.91.2
.0- . 8- . 3
.01.2.6
1.5.4.1
- 1 . 0
.4
1.5- 1 . 9
1.3- 2 . 1- . 3- . 5
Season-ally
adjusted
0.11.2
! l- . 9
1.1- . 2
.7- . 21.0
- . 4
.8
.0
.9
.81.6.4
- . 2.7
- . 3.8
1.2.4
1.0.3.3
- . 4- 1 . 7- . 4
1.3- . 41.3
- 1 . 4- . 3- . 7
Farm products
Unad-justed
0.12 2.8.0
1.6- 1 . 2
1.4- 2 . 4
1.4- 1 . 6
2.0.2
1.5.1
1.4- . 84.6.6
- . 6- 1 . 4- . 5- . 53.0.5
.71.1.5
- 2 . 6- . 3
.3
1.6- 4 . 3
3.3- 3 . 8
.1
Season-ally
adjusted
- 0 . 51.8.8.4.0
- 1 . 4
1.3- . 61.9
- . 41.4
- . 4
1.0- . 41.4
- . 12.5.6
- . 8.6.1.6
2.1.3
.1
.6
- L 8-2.3
.2
1.5-2.3
3.9-2 .8-1.6- . 2
Processed foodsand feeds
Unad-justed
0.8.8
- . 3
i!o
• 1.0- . 9
.3- . 8
.3
.1
1.0.3.1.8
1.81.7
.5- . 4- . 2
.2
.2
.7
2.0.1
- . 2.0
- . 6.6
1.4- . 4
- L 0- . 1
- 1 . 0
Season-ally
adjusted
0.41.0.4.2.4
- . 4
.7- . 1
.2- . 1
.7- . 1
.5
.3
.71.21.2.3
.2
.3- . 31.0.6.5
1.5.2.4.4
- 1 . 3- . 7
1.1.4
- . 2- . 2
- 1 . 2
Industrialcommodities
Una^justed
0.4
.2
.2- . 1
.1
.1
.1
.3
.5
.1
.4
.5
.5
.5
.1
.1
.0
.2
.4
.4
.5
.4
.4
.4
.3
.3
.3
.3
.1
.2CM CO
OC
.0
.3
Season-ally
adjusted
0.3.4.2
!o.2
.2
.1
.3
.4
.0
.4
.4
.3
'.2.2.1
.3
.4
.4
.4CO
CO
C
*5
.2
.2
.5
.4
.2
.3
.2
.3
.6
.0
.3
Note.—The percentage changes are calculated from indexes on a 1957-59 base; therefore, the unadjusted changesmay differ slightly from those calculated from indexes on a 1967 base as shown in Table C-48.
Source: Department of Labor, Bureau of Labor Statistics.
257
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCETABLE C-52.— Money stock, 1947-70
[Averages of daily figures, billions of dollars]
Year and month
Totalmoneystockandtime
depos-itsad-
justed
Money stock
Total
Cur-rencycom-po-
nent^
De-mand
depositcom-
ponent2
Timede-
positsad-
just-ed 3
Totalmoneystockandtime
depos-itsad-
justed
Money stock
Total
Cur-rencycom-po-
nent1
De-mand
depositcom-
ponent2
Timede-
positsad-
just-ed 3
U.S.Gov-ern-mentde-
mandde-pos-its*
1947: Dec.1948: Dec.1949: Dec.
1950: Dec.1951: Dec.1952: Dec.1953: Dec.1954: Dec.
1955: Dec.1956: Dec.1957: Dec.1958: Dec.1959: Dec.
1960: Dec.1961: Dec.1962: Dec.1963: Dec.1964: Dec.
1965: Dec1966: Dec.1967: Dec.1968: Dec.1969: Dec.
July...Aug...Sept..Octp..Nov p.Dec p..
Seasonally adjusted Unadjusted
1970: Dec*
1969: Jan. . .Feb...Mar...Apr...May..June..
July...Aug...Sept..Oct...Nov...Dec.
1970: Jan..Feb..Mar..Apr..May..June.
148.5147.6147.6
152.9160.8168.6173.3180.6
185.2188.8193.3206.6210.0
214.6228.7245.9265.8287.1
314.8330.0366.6402.2398.2
445.0
401.8402.5402.6403.1403.3403.6
401.2398.0397.6397.4397.5398.2
398.5398.0401.9406.8409.5411.8
418.8425.0431.3435.2438.5445.0
113.1111.5111.2
116.2122.7127.4128.8132.3
135.2136.9135.9141.1142.6
141.7146.0148.1153.6160.5
168.0171.7183.1197.4203.6
214.6
198.1199.3200.1201.0201.6202.4
203.1202.6202.8203.2203.5203.6
205.2204.5206.6208.3209.2209.6
210.6211.8212.8213.0213.5214.6
26.425.825.1
25.026.127.327.727.4
27.828.228.328.628.9
28.929.630.632.534.2
36.338.340.443.446.0
48.9
43.643.844.144.244.544.8
45.045.245.345.645.946.0
46.246.446.747.147.747.8
48.148.248.248.548.748.9
86.785.886.0
91.296.5
100.1101.1104.9
107.4108.7107.6112.6113.7
112.8116.5117.6121.1126.3
131.7133.4142.7154.0157.7
165.6
154.5155.5156.0156.8157.1157.6
158.1157.4157.6157.6157.6157.7
159.0158.1159.8161.2161.6161.9
162.5163.7164.6164.5164.8165.6
35.436.036.4
36.738.241.144.548.3
50.051.957.465.467.4
72.982.797.8
112.2126.6
146.8158.3183.5204.8194.6
230.4
203.7203,2202.5202.1201.7201.2
198.1195.4194.8194.2194.0194.6
193.3193.5195.3198.5200.3202.2
208.2213.2218.5222.2225.0230.4
151.1150.0150.0
155.6163.8171.7176.4183.6
188.2191.7196.0209.3212.9
217.6231.9249.0268.9290.5
318.3333.8370.7406.6403.0
449.8
407.1400.4401.5405.0400.2401.8
399.6395.6396.3397.6398.7403.0
404.1395.8400.6408.6406.4410.1
417.1422.7429.8435.5439.9449.8
115.9114.3113.9
119.2125.8130.8132.1135.6
138.6140.3139.3144.7146.3
145.5150.1152.3157.9165.3
173.1176.9188.6203.4209.8
221.1
204.2197.8198.3202.0197.7200.5
201.5199.6201.4203.2205.3209.8
211.4202.8204.7209.3205.3207.8
209.0208.7211.4213.0215.3221.1
26.826.225.5
25.426.627.828.227.9
28.428.828.929.229.5
29.630.231.233.135.0
37.139.141.244.346.9
50.0
43.543.443.743.844.244.7
45.245.445.345.646.446.9
46.145.946.346.647.347.7
48.348.348.248.549.250.0
89.188.188.4
93.899.2
103.0103.9107.7
110.2111.5110.4115.5116.8
115.9120.0121.1124.8130.3
136.0137.8147.4159.1162.9
171.1
160.7154.4154.6158.2153.5155.8
156.4154.3156.1157.6158.9162.9
165.4156.8158.4162.6158.0160.1
160.7160.4163.1164.5166.1171.1
35.135.736.1
36.438.040.944.248.0
49.651.456.764.666.6
72.181.896.7
111.0125.2
145.2156.9182.1203.2193.2
228.7
202.9202.6203.2203.0202.5201.3
198.1196.0194.9194.4193.4193.2
192.7193.0195.9199.3201.1202.3
208.1214.0218.4222.5224.6228.7
1.01.82.8
2.42.74.93.85.0
3.43.43.53.94.9
4.74.95.65.15.5
4.63.45.05.05.6
7.1
4.96.94.85.49.26.0
5.64.35.34.25.25.6
4.87.16.95.36.46.5
6.87.16.86.15.67.1
1 Currency outside the Treasury, the Federal Reserve System, and the vaults of all commercial banks.2 Demand deposits at all commercial banks, other than those due to domestic commercial banks and the U.S. Govern-
ment, less cash items in process of collection and Federal Reserve float, plus foreign demand balances at Federal ReserveBanks.
s Time deposits adjusted are time deposits at all commercial banks other than those due to domestic commercial banksand the U.S. Government.
* Deposits at all commercial banks.Note.—Effective June 1E66, balances accumulated for payment of personal loans were reclassified for reserve purposes
and are excluded from time deposits reported by member banks. The estimated amount of such deposits at all com-mercial banks ($1.1 billion) is excluded from time deposits adjusted thereafter.
Source: Board of Governors of the Federal Reserve System.
258
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-53.—Bank loans and investments, 1930-70
[Billions of dollars]
End of year or month l
1930: June1931: June1932: June .1933: June1934: June1935..1936 . . . . . .19371938193919401941.1942194319441945 .194619471948
19481949195019511952 '195319541955 .19561957 . . .19581959196019611962 . .1963196419651966196719681969 6 .1970 p1969:Jan
FebMar . . .AprMayJuneJune6 . . . .JulyAugSeptOctNovDec
1970- JanFebMarAprMay .J u n e - - - . _ . .JulyAug . - - . . . . . .Sep tOct pNov pDec p
All commercial banks
Total loansand invest-
ments 2
48.944.936.130.432.736.139.638.438.740.743.950.767.485.1
105.5124.0114.0116.3114.2
Loans 2
34.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.4
Investments
U.S. Govern-ment securities
5.06 06.27.5
10 313.815.314.215.116 317.821.841.459.877.690.674.869.262.6
Othersecurities
9.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2
Seasonally adjusted
113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2185.9194.5209.6227.9246.2267.2294.4
5 310.5346.5384.6401.3432.5385.9387.9386.6390.7392.2392.5397.3397.7397.5396.5397.6401.2401.3398.5399.7400.9403.5405.9406.4412.8418.3423.7424.0427.3432.5
41.542.051.156.562.866.269.180.688.191.595.6
107.8113.8120.4134.0149.6167.7192.6
s 208.2225.4251.6278.1288.9253.7258.4257.3261.0264.1264.3269.2269.9270.3271.3273.8276.4278.1276.6278.5277.6277.0278.0211A281.5284.1287.3286.9287.7288.9
62.366.461.160.462.262.267.660.357.256.965.157.759.865.364.661.760.757.153.659.761.551.958.060.858.157.457.756.156.256.356.856.954.753.553.451.950.449.850.352.453.454.155.857.557.656.356.558.0
9.210.3
12.413.414.214.716.416.816.317.920.520.520.823.929.235.038.744.8
5 48.761.471.571.385.671.471.571.972.172.072.071.871.070.370.570.371.471.371.571.473.074.074.575.075.576.778.880.883.285.6
Weekly re-porting largecommercial
banks 3
Business loans*
5.14.24.75.37.16.36.46.57.3
11.314.715.6
15.613.917.921.623.423.422.426.730.831.831.730.732.232.935.238.842.1
3 53.160.765.873.181.581.572.973.775.076.776.678.478.477.676.778.177.678.081.578.078.078.578.577.879.679.379.281.280.079.981.5
1 Data are for last Wednesday of month (except June 30 and December 31 call dates used for all commercial banks).* Adjusted to exclude interbank loans beginning 1948.3 Weekly reporting large commercial banks beginning 1965 and weekly reporting member banks prior to 1965.* Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans to financial institu-
tions excluded. Prior to 1943, published data adjusted to include open-market paper.5 Effective June 1966, balances accumulated for payment of personal loans (about $1.1 billion) are excluded from loans
at all commercial banks, and certain certificates of CCC and Export-Import Bank totaling about $1 billion are included inother securities rather than in loans.
e New series beginning June 1969; for details see "Federal Reserve Bulletin," August 1969.Source: Board of Governors of the Federal Reserve System.
259
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-54.—Total funds raised in credit markets by nonfinancial sectors, 1962—70
[Billions of dollars]
Nonfinancial sector
Total funds raised
U.S. Government-.
Public debt securities
Budget agency issues
All other sectors
Capital market instruments
Corporate equity sharesDebt capital instruments
State and local govern-ments
Corporate and foreignbonds
Mortgages
HomeOther residential..Commercial -Farm
Other private credit
Bank loans n.e.cConsumer creditOpen-market paperOther
Total funds supplied directly
U.S. GovernmentU.S. Government credit agencies, net.
Funds advancedLess funds raised
Federal Reserve SystemCommercial banks, netPrivate nonbank finance
Savings institutions, netInsuranceFinance n.e.c, net
Funds advanced . .
Less funds raised
Foreign
Private domestic nonfinancial
BusinessState and local government,
general fundsHouseholdsLess net security credit
See footnote at end of table.
1962
54.1
7.0
6.2.8
47.1
33.1
.632.6
5.3
5.521.7
12.82.84.81.3
14.0
5.25.8
.12.8
54.1
2.0.1
1.61.5
2.019.526.6
12.914.4
4.65.3
1.5
2.4
1.8
1.2- . 8- . 2
1963
57.7
4.0
4.1- . 1
53.7
35.7
- . 235.9
5.9
4.925.1
15.13.25.11.6
18.0
6.07.9.0
4.1
57.7
1.5.1
1.61.4
2.919.129.9
15.514.3
5.85.8
.9
3.4
2.9
1.11.32.0
1964
66.9
6.4
5.41.0
60.5
37.9
1.636.3
5.7
4.526.1
15.64.53.82.1
22.6
8.38.5.7
5.1
66.9
2.8.4
.7
.4
3.421.831.0
16.015.6- . 5
5.56.1
.6
7.0
2.0
.94.0
- . 2
1965
70.4
1.7
1.3.4
68.7
39.1
.338.8
7.3
5.925.6
15.43.64.42.2
29.5
14.210.0- . 35.7
70.4
2.8.0
2.22.3
3.828.330.1
13.717.9
- 1 . 4
6.98.3
- . 3
5.6
1.0
2.52.5
.3
1966
68.5
3.5
2.31.2
64.9
39.9
.939.0
5.7
11.022.3
11.43.15.72.1
25.0
10.37.21.06.4
68.5
4.9.3
5.14.8
3.516.725.9
7.819.3
- 1 . 3
5.87.1
- 1 . 8
19.1
3.6
3.411.9- . 2
1967
82.6
13.0
8.94.1
69.6
48.0
2.445.7
7.7
15.922.0
11.63.64.72.1
21.6
9.64.62.15.2
82.6
4.6.5
- . 1- . 6
4.836.836.1
16.920.4
—1.3
4.35.6
2.8
—2.9
—.6
1.2—1.3
2.2
1968
97.4
13.4
10.33.0
84.1
50.5
- . 751.2
9.9
14.027.3
15.23.56.62.1
33.6
13.411.11.67.5
97.4
5.2- . 2
3.23.5
3.739.033.5
14.521.5
- 2 . 4
9.812.3
2.5
13.7
9.0
.75.41.4
1969
88.2
- 3 . 6
- 1 . 3- 2 . 4
91.9
53.6
4.549.1
8.5
13.327.4
15.74.45.22.0
38.3
14.29.33.3
11.3
88.2
2.6.1
8.9
4.29.4
30.9
10.322.3
—1.7
10.011.7
2.0
39.0
11.4
7.218.8
—1.6
260
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-54.—Total funds raised in credit markets by nonfinancial sectors, 1962-70—Continued
[Billions of dollars]
Nonfinancial sector
Total funds raised
U.S. Government
Public debt securities
Budget agency issues
All other sectors
Capital market instruments
Corporate equity sharesDebt capital instruments
State and local governmentsCorporate and foreign bondsMortgages
HomeOther residentialCommercialFarm
Other private credit
Bank loans n.e.cConsumer creditOpen-market paperOther
Total funds supplied directly
U.S. GovernmentU.S. Government credit agencies, net
Funds advancedLess funds raised
Federal Reserve SystemCommercial banks, netPrivate nonbank finance
Savings institutions, netInsuranceFinance n.e.c, net
Funds advanced
Less funds raised
Foreign
Private domestic nonfinancial
Business..State and local government, general fundsHouseholdsLess net security credit
Source: Board of Governors of the Federal Reserve System.
1970 unadjusted quarter-ly totals
1
12.8
2.0
2.5- . 5
10.8
11.4
1.69.9
1.93.54.5
2.11.41.0.0
- . 6
- 1 . 7- 2 . 8
1.62.2
12.8
.9j
3.53.6
- 1 . 3- 8 . 1
7.2
1.86.0
- . 6
- 1 . 5g
2.0
12.3
.81.38.9
- 1 . 4
II
21.4
- 6 . 4
- 5 . 9
27.8
17.0
1.515.5
3.45.76.3
3.11.41.3.5
10.8
5.22.8
.32.4
21.4
.6
.5
2.01.6
2.07.78.4
3.54.6
.3
.4
.2
2.0
.3
- . 3.5
- . 7- . 8
III
26.5
9.7
9.9- . 2
16.7
16.4
1.415.0
2.75.17.1
4.11.41.3.4
.3
- 2 . 61.4.5
1.0
26.5
.6- . 6
1.62.2
2.212.111.6
5.46.5
- . 3
2.62.9
3.3
- 2 . 8
- 7 . 8- 2 . 7
7.6- . 1
1970 seasonally adjustedannual rates
1
80.0
3.3
5.6- 2 . 3
76.7
52.7
6.346.4
9.214.722.5
11.46.05.0.1
24.0
7.84.85.06.4
80.0
2.7- . 6
14.214.7
1.33.8
25.9
5.322.7
- 2 . 1
- . 81.2
8.1
38.8
10.71.4
21.5- 5 . 2
II
101.3
17.2
17.8- . 6
84.1
63.1
6.256.9
11.022.323.6
11.85.54.81.5
21.0
4.56.22.28.1
101.3
2.81.9
6.64.7
5.923.936.7
15.621.0
.2
- 1 . 7- 1 . 9
9.4
20.7
.92.0
15.2- 2 . 7
III
103.0
18.8
18.4.4
84.2
64.1
5.658.6
11.719.727.2
15.25.54.91.6
20.1
4.56.4
.58.8
103.0
2.7- . 6
8.69.1
7.560.544.5
20.625.2
- 1 . 3
17.318.6
7.8
- 1 9 . 5
-23 .2- 7 . 811.3- . 2
261
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-55.—Selected liquid assets held by the public, 1946-70 l
[Billions of dollars, seasonally adjusted]
End of year or month
1946194719481949
195019511952.19531954
19551956195719581959
19601961 .196219631964.. . .
19651966 a196719681969
1970 v
1969:JanFebMarAprMayJune - - - - - .
July .AugSept . .OctNov .Dec
1970: JanFeb. - - .MarAprMayJune
JulyAugSeptOctp _Nov vDec p
Total
239.1246.2254 1262.1
271.4281 0296.0311.5320.3
332.5343.2356 0373.1393.9
399.2424.6459.0495 4530.5
573 1601.5650.4709.6731 6
787.9
703.7705.7713.2711.3714.3713.8
709.5713 2718.1714 9722.1731 6
720.5721.8733.4731.2734.0738.5
749.7750 8765 4764.5773 5787.9
Demanddeposits
andcurrency2
108.5112.4110 5110.4
115.5120 9125.5127.3130.2
133.3134.6133 5138.8139.7
138.4142.6144.8149 6156.7
164 1168.6180.7
e 199.2206 8
, 208.1
188.8189.9192.4190 8191.5194.2
2 191.9193 3194.1194 0195.8206 8
195.4194.8199.3196.7197.9199.8
198.7199 3203.6199.6201 1208.1
Time d_
Com-mercialbanks 3
33.935.335 936.3
36.638 241.244.648.2
49.752.057 565.467.4
73.182.598.1
112 9127.1
147 1159.3183.1203.8197 1
233.7
203.4202.9201.9201 8202.7200.4
197.5195 6195.5195 7197.9197 1
196.0196.7198.8201.5201.7202.9
211.8215 4221.5224.5230 3233.7
eposits
Mutualsavingsbanks
16.917.818 419.3
20.120 922.624.426.3
28.130.031 633.934.9
36.238.341.444 549.0
52 655.260.364.767.3
71.2
64.865.265.565.766.166.3
66.366.466.666.767.067.3
67.067.467.568.068.468.7
69.269 469.970.470 971.2
Postalsavingssystem
3.33.43 33.2
2.92.72.52.42.1
1.91.61.31.1.9
.8
.6
.5
.5
.4
.3
.1
Savingsandloan
shares
8.59.7
11 012.5
14.016 119.222.827.2
32.037.041.747.754.3
61.870.579.890.9
101.4
109.8113.4123.9131.0134.8
145.7
131.0132.0133.4133.3133.5133.6
133.6134.1135.3134.9135.3134.8
133.5134.1135.7136.4136.8137.4
139.0140.0142.3143.4144.6145.7
U.S.Govern-
mentsavingsbonds4
48.650.953.455.0
55.855.455.755.655.6
55.954.851.650.547.9
47.047.447.649.049.9
50.550.951.952.552.4
52.7
52.552.352.252.252.252.2
52.252.152.052.052.052.4
52.252.152.052.052.052.0
52.452.052.152.152.252.7
U.S.Govern-
mentsecuritiesmaturing
within1 year4
19.416.621.625.5
26.426.829.334.430.6
31.633.238.835.648.8
41.942.646.848.146.1
48.653.950.558.5
W3.2
76.4
7 63.463.467.767.568.367.3
68.171.674.671.774.273.2
76.376,680.176.877.277.7
78.574.676.074.574.376.4
1 Excludes holdings of the U.S. Government, Government agencies and trust funds, domestic commercial banks, andFederal Reserve Banks. Adjusted wherever possible to avoid double counting.
2 Agrees in concept with the money stock, Table C-52, except for deduction of demand deposits held by mutual savingsbanks and savings and loan associations. Data are for last Wednesday of month. Data prior to July 1969 have not been re-vised to conform to the money stock revision.
3 Time deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government(same concept as in Table C-52). Data are for last Wednesday of month, except that June 30 and December 31 calldata are used where available.
4 Excludes holdings ot Government agencies and trust funds, domestic commercial and mutual savings banks, FederalReserve Banks, and beginning February 1960, savings and loan associations.
5 Effective June 1966, balances accumulated for the payment of personal loans (about $1.1 billion) are excluded fromtime deposits at all commercial banks and from total liquid assets.
0 Estimates for Tuesday, December 31, rather than last Wednesday of December.7 Beginning 1969, data have been adjusted to conform to the new budget concept.
Source: Board of Governors of the Federal Reserve System.
262
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-56.—Federal Reserve Bank credit and member bank reserves, 1929-70
[Averages of daily figures, millions of dollars]
Year and month
1929: Dec . . .
1930: Dec1931: Dec . . .1932: Dec.1933: Dec1934: Dec1935: Dec1936: Dec1937: Dec1938: Dec1939: Dec
1940: Dec1941: Dec1942: Dec .1943: Dec1944: Dec1945: Dec . .1946- Dec1947: Dec1948: Dec .1949: Dec
1950: Dec . . .1951: Dec1952: Dec1953: Dec _1954: Dec1955: Dec1956: Dec1957: Dec . .1958: Dec1959: Dec
1960: Dec1961: Dec1962: Dec1963: Dec1964: Dec1965: Dec1966: Dec . . .1967: Dec1968: Dec1969: Dec
1970- Dec v
1969: JanFebMarAprMayJune
JulyAugSept . . .OctNov _ .Dec
1970: JanFebMarAprMayJune _
JulyAug _-SeptOctNov vDeep
Reserve Bank credit outstanding
Total
1,643
1,2731,9502,1922,6692,4722,4942,4982,6282,6182,612
2,3052,4046,035
11,91419,61224,74424,74622,85823,97819,012
21,60625,44627,29927,10726,31726,85327,15626,18628,41229,435
29,06031,21733,21836,61039,87343,85346,86451,26856,61064,100
66,676
56, 47655, 78655, 47758,82159,99960, 565
60, 88760, 87660, 45961,51662,78864,100
62, 86761,46861,38862, 42463, 08762, 843
63,91264,13464, 61964, 70865,13266,676
U.S.Govern-ment se-curities
446
644111
1,8542,4322,4302,4302,4342,5652,5642,510
2,1882,2195,549
11,16618,69323,70823,76721,90523,00218,287
20,34523,40924,40025,63924,91724,60224,76523,98226,31227,036
27,24829,09830,54633,72937,12640, 88543,76048,89152,52957, 500
61,688
52,66552,26552,12252,46353, 39054, 028
54, 29854, 59953,84054, 70856,49957, 500
56,27355, 94955, 78055, 98257,26557,630
58, 21959, 54459,90359, 53360,39361,688
Memberbank
borrow-ings
801
337763281951067
1673
354
90265334157224134118142657
1,59344124683968871055790687
149304327243454557238765
1,086321
697824918996
1,4021,407
1,1901,2491,0671,1351,2411,086
9651,092
896822976888
1,358849607462425321
Allother,mainlyfloat
396
292410
57142325857474799
114180482658654702822729842607
1,1191,3801,3061,0271,1541,4121,7031,4941,5431,493
1,7251,9702,3682,5542,5042,5142,5472,1393,3165,514
4,667
3,1142,6972,4375,3625,2075,130
5,3995,0285,5525,6735,0485,514
5,6294,4274,7125,6204,8464,325
4,3353,7634,1094,7134,3144,667
Member bank reserves
Total
2,395
2,4152,0692,4352,5884,0375,7166,6656,8798,745
11,473
14,04912,81213,15212,74914,16816,02716,51717,26119,99016,291
17,39120,31021,18019,92019,27919,24019,53519,42018,899
2 18,932
19,28320,11820,04020,74621,60922,71923,83025,26027,22128,03129,233
28, 06327,29126,75427, 07927, 90327,317
26, 98027, 07926,97127,34027,76428,031
28, 85827, 97627, 47328,09627,91027, 567
28,12828,34928, 82528,70128, 55829,233
Re-quired
2,347
2,3422,0101,909
i 1,8222,2902,7334,6195,8085,5206,462
7,4039,422
10,77611,70112,88414,53615,61716,27519,19315,488
16,36419,48420,45719,22718,57618,64618,88318,84318,38318,450
18,52719,55019,46820,21021,19822,26723,43824,91526,76627,774
28,989
27, 84627, 06326, 53726, 92727, 60326,974
26,86426, 77626,735'27,19727,51127,774
28,69227,70327,35827, 97827,72927,380
27,98728, 20428, 55328,44728,43828,989
Excess
48
7360
5261766
1,7482,9832,0461,0713,2265,011
6,6463,3902,3761,0481,2841,491
900986797803
1,027826723693703594652577516482756568572536411452392345455257244
217228217152300343
116303236143253257
166273115118181187
141145111254120244
Memberbank freereserves(excessreservesless bor-rowings)
- 7 5 3
- 2 6 4- 7 0 3
245671
1,7382,9772 0391,0553,2195,008
6,6433,3852,372
9581,0191,157
743762663685885169
- 8 7 0252457
- 2 4 5-36
- 1 3 3-41
- 4 2 4
669419268209168- 2
- 1 6 5107
- 3 1 0- 8 2 9
- 7 7
- 4 8 0- 5 9 6- 7 0 1- 8 4 4
- 1 , 1 0 2- 1 , 0 6 4
- 1 , 0 7 4- 9 4 6- 8 3 1- 9 9 2- 9 8 8- 8 2 9
- 7 9 9- 8 1 9- 7 8 1- 7 0 4- 7 9 5- 7 0 1
- 1 , 2 1 7- 6 8 2- 3 3 5- 2 0 8- 3 0 5
-77
1 Data from March 1933 through April 1934 are for licensed banks only.2 Beginning December 1959, total reserves held include vault cash allowed.
Source: Board of Governors of the Federal Reserve System.
263
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-57.—Bondyields and interest rates, 1929-70
[Percent per annum]
Year or month
1929.
1930..1931193219331934
19351936193719381939
19401 9 4 1 . . . .1942 . . . .19431944
1945.1946.1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962,1963.1964.
1965.1966.1967.1968..1969.
1970.
1968: Jan. .Feb..Mar..Apr . .May..June.
July..Aug..Sept.Oct. .Nov..D e c .
U.S. Government securities
3-monthTreas-
urybills i
()1.402.879.515.256
.137
.143
.447
.053
.023
.014
.103
.326
.373
.375
.375
.375
.5941.0401.102
1.2181.5521.7661.931.953
1.7532.6583.2671.8393.405
2.9282.3782.7783.1573.549
3.9544.8814.3215.3396.677
6.458
5.0814.9695.1445.3655.6215.544
5.3825.0955.2025.3345.4925.916
9-12monthissues2
0.75.79
.81
.82
.881.141.14
1.261.731.812.07.92
1.892.833.532.094.11
3.552.913.023.283.76
4.095.174.845.627.06
6.90
5.395.375.555.636.066.01
5.685.415.405.445.566.00
3-5year
issues 3
2.662.12
1.291.111.40.83.59
.18
.16
.32
.62
.43
1.501.932.132.561.82
2.503.123.622.904.33
3.993.603.573.724.06
4.225.165.075.596.85
7.37
5.535.595.775.695.955.71
5.445.325.305.425.475.99
Taxablebonds4
2.462.472.48
2.372.192.252.442.31
2.322.572.682.942.55
2.843.083.473.434.08
4.023.903.954.004.15
4.214.654.855.266.12
6.58
5.185.165.395.285.405.23
5.095.045.095.245.365.66
Corporatebonds
(Moo
Aaa
4.73
4.554.585.014.494.00
3.603.243.263.193.01
2.842.772.832.732.72
2.622.532.612.822.66
2.622.862.963.202.90
3.063.363.893.794.38
4.414.354.334.264.40
4.495.135.516.187.03
8.04
6.176.106.116.216.276.28
6.246.025.976.096.196.45
dy's)
Baa
5.90
5.907.629.307.766.32
5.754.775.035.804.96
4.754.334.283.913.61
3.293.053.243.473.42
3.243.4L3.523.743.51
3.533.884.714.735.05
5.195.085.024.864.83
4.875.676.236.947.81
9.11
6.846.806.856.977.037.07
6.986.826.796.847.017.23
High-grademunic-
ipalbonds
(Stand-ard &
Poor's)
4.27
4.074 014.654 714.03
3 403.G73 102.912.76
2.502.102 362 061.86
1.671 642 012.402.21 %
1.982.002.192.722.37
2.532.933.603.563.95
3.733.463.183.233.22
3.273.823.984.515.81
6.51
4.344.394.564.414.564.56
4.364.314.474.564.684.91
Averagerate onshort-termbankloans
to busi-n e s s -
selectedcities
( 7 )
(0( 7 )
( 7 )( 7 )
( 7 )
( 7 )
(0(7)( 7 )
2.1
2.12.02.22.62.4
2.22 12 12.52.68
2.693.113.493.693.61
3.704.204.624.34
« 5.00
5.164.975.005.014.99
5.066.00
io 6.006.688.21
8.48
6.36
6.84
6.89
6.61
Primecom-mer-cial
paper,4-6
months
5.85
3.592.642.731.731.02
.75
.7594
.81
.59
.56
.53
.66
.69
.73
.7581
1.031.441.49
1.452.162.332.521.58
2.183.313.812.463.97
3.852.973.263.553.97
4.385.555.105.907.83
7.72
5.605.505.645.816.186.25
6.195.885.825.805.926.17
Fed-eral
ReserveBankrlieais-
countrate
5.17
3.042.122.822 561.54
1.501.501.331.001.00
1.001.00
8 1.008 1.008 1.00
8 1.008 1.00
1.001.341.50
1.591.751.751.991.60
1.892.773.122.153.36
3.533.003.003.233.55
4.044.504.195.175.87
5.95
4.504.504.665.205.505.50
5.505.485.255.255.255.36
FHAnew
homemort-gage
yields5
4.34
/ti
1.171.211291.61162
4.644.795.425.495.71
6.185.805.615.475.45
5.466.296.557.138.19
9.05
6.816.816.786.836.94
7.527.427.357.287.29r.36
See footnotes at end of table.
264
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-57.—Bond yields and interest rates, 1929-70—Continued
(Percent per annum]
Year or month
1969: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1970: JanFebMarAprMayJune
JulyAugSeptOctNovDec
u.s
3-monthTreas-
urybills i
6.1776.1566.0806.1506.0776.493
7.0047.0077.1297.0407.1937.720
7.9147.1646.7106.4807.0356.742
6.4686.4126.2445.9275.2884.860
. Government securities
9-12monthissues 2
6.266.216.226.116.267.07
7.597.517.767.637.948.34
8.227.606.886.967.697.50
7.006.926.686.345.524.94
3-5year
issues3
6.046.166.336.156.336.64
7.027.087.587.477.577.98
8.147.807.207.497.977.86
7.587.567.247.066.375.86
Taxablebonds4
5.745.866.055.845.856.05
6.076.026.326.276.526.81
6.866.446.396.536.946.99
6.576.756.636.596.245.97
Corporatebonds
(Moody's)
Aaa
6.596.666.856.896.796.98
7.086.977.147.337.357.72
7.917.937.847.838.118.48
8.448.138.098.038.057.64-
Baa
7.327.307.517.547.527.70
7.847.868.058.228.258.65
8.868.788.638.708.989.25
9.409.449.399.339.389.12
High-grade
munic-ipal
bonds(Stand-ard &
Poor's)
4.955.105.345.295.475.83
5.846.076.356.216.376.91
6.806.576.146.557.027.06
6.696.336.456.556.205.71
Averagerate onshort-termbankloans
to busi-ness-
selectedcities
Primecom-mer-cial
months
7.32
7.86
8.82
8.83
8.86
8.49
8.50
8.07
6.536.626.827.047.358.23
8.658.338.488.568.468.84
8.788.558.338.068.238.21
8,297.907.326.856.305.73
Fed-eral
ReserveBankdis-
countrate
5.505.505.505.956.006.00
6.006.006.006.006.006.00
6.006.006.006.006.006.00
6.006.006.006.005.855.52
FHAnew
homemort-gage
yields*
7.50
7.998.058.068.06
8.358.368.368.408.488.48
8.62
9.299.20
,9.109.11
9.169.119.079.018.978.90
1 Rate on new issues within period. Issues were tax exempt prior to March 1,1941, and fully taxable thereafter. For theperiod 1934-37, series includes issues with maturities of more than 3 months.
2 Certificates of indebtedness and selected note and bond issues (fully taxable).•Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable thereafter.* First issued in 1941. Series includes bonds which are neither due nor callable before a given number of years as fol-
lows: April 1953 to date, 10 years; April 1952-March 1953, 12 years; October 1941-March 1952, 15 years.5 Data for first of the month, based on the maximum permissible interest rate (8 percent beginning December 2, 1970).
Through July 1961, computed on 25-year mortgages paid in 12 years and thereafter, 30-year mortgages prepaid in 15 years.8 Treasury bills were first issued in December 1929 and were issued irregu larly in 1930.1 Not available on same basis as for 1939 and subsequent years.« From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances secured by
Government securities maturing in 1 year or less.• Beginning 1959, series revised to exclude loans to nonbank financial institutions.
10 Beginning February 1967, series revised to incorporate changes in coverage, in the sample of reporting banks, andin the reporting period (shifted to the middle month of the quarter).
Note.—Yields and rates computed for New York City except for short-term bank loans.
Sources: Treasury Department, Board of Governors of the Federal Reserve System, Moody's Investors Service, Stand-ard & Poor's Corporation, and Federal Housing Administration.
265
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-58.—Short- and intermediate-term consumer credit outstanding, 1929—70[Millions of dollars]
End of year or month
1929
19301931 - - . -19321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965196619671968196919704
1969:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1970: JanFebMar . . _AprMay .June
JulyAugSept . . _OctNovDec4
Total
7,116
6,3515,3154,0263,8854,2185,1906,3756,9486,3707,222
8,3389,1725,9834,9015,1115,6658,384
11,59814,44717,364
21,47122,71227,52031,39332,46438,83042,33444,97145,12951, 544
56,14157,98263,82171,73980,26890,31497,543
102,132113,191122,469126,200
112,117111,569111,950113,231114,750115,995
116,597117,380118,008118,515119,378122,469
121,074120,077119,698120,402121, 346122, 542
123,092123,655123, 907123, 866123 915126,200
Instalment credit
Total
3,524
3,0222,4631,6721,7231,9992,8173,7474,1183,6864,503
5,5146,0853,1662,1362,1762,4624,1726,6958,996
11,590
14,70315,29419,40323,00523,56828,90631,72033,86833,64239,247
42,96843,89148,72055,48662,69271,32477,53980,92689,89098,169
100,900
89,49289,38089,67290,66391,81393, 087
93,83394,73295,35695,85096,47898,169
97, 40296, 89296,66297,10497, 70698, 69999, 30299, 860
100,14299,95999 790
100,900
Auto-mobilepaper
1,384
986684356493614992
1,3721,4941,0991,497
2,0712,458
742355397455981
1,9243,0184,555
6,0745,9727,7339,8359,809
13,46014,42015,34014,15216,420
17,65817,13519,38122,25424,93428,61930,55630,72434,13036,60235,700
34,01334,05334,26234,73335,23035,804
36,08136,24536,32136, 59936,65036, 602
36, 29136,11936,08836, 26436, 45536, 80936,91836,90836, 73836, 51836 01135,700
Othercon-
sumergoodspaper
1,544
1,4321,214
834799889
1,0001,2901,5051,4421,620
1,8271,9291,195
819791816
1,2902,1432,9013,706
4,7994,8806,1746,7796,7517,6418,6068,8449,028
10,631
11,54511,86212,62714,17716,33318,56520,97822,39524,89927,60929 400
24,68224,40424,30624,39924,63624,95625,17225,46725,73225,85526,22327, 609
27, 34626, 98726, 81426, 85027,05527, 303
27, 53827, 80128,05528,15228 37829,400
Homerepair
andmodern-
izationloans i
272522181537
253364219218298
371376255130119182405718853898
1,0161,0851,3851,6101,6161,6931,9052,1012,3462,809
3,1483,2213,2983,4373,5773,7283,8183,7893,9254,0404,100
3,8863,8753,8743,9033,9644,022
4,0394,0634,0964,0844,0764,040
3,9913,9703,9513,9604,0034,040
4,0814,1044,1234,1264 1334,100
Per-sonalloans
569579543464416459572721900927
1,088
1,2451,322
974832869
1,0091,4961,9102,2242,4312,8143,3574,1114,7815,3926,1126,7897,5828,1169,386
10,61711,67313,41415,61817,84820,41222,18724,01826,93629,91831,700
26,91127,04827,23027,62827,98328,305
28, 54128,95729,20729,31229, 52929,918
29,77429,81629, 80930,03030,19330,54730,76531,04731, 22631,16331,26831,700
Noninstalment credit
Total
3,592
3,3292,8522,3542,1622,2192,3732,6282,8302,6842,719
2,8243,0872,8172,7652,9353,2034,2124,9035,4515,774
6,7687,4188,1178,3888,8969,924
10,61411,10311,48712,297
13,17314,09115,10116,25317,57618,99020,00421,20623,30124,30025,300
22,62522,18922,27822,56822,93722,908
22,76422,64822,65222,66522,90024,300
23, 67223,18523,03623, 29823, 64023, 84323, 79023, 79523, 76523,90724 12525,300
Chargeac-
counts
1,996
1,8331,6351,3741,2861,3061,3541,4281,5041,4031,414
1,4711,6451,4441,4401,5171,6122,0762,3812,7222,854
3,3673,7004,1304,2744,4854,7954,9955,1465,0605,104
5,3295,3245,6845,9036,1956,4306,6866,9687,7558,2348,600
7,0976,4036,3406,5576,9717,002
7,0396,9887,0057,0857,2388,234
7,5396,7896,6456,9007,2737,473
7,5097,5087,4897,6567,7578,600
Other 2
1,596
1,4961,217
980876913
1,0191,2001,3261,2811,305
1,3531,4421,3731,3251,4181,5912,1362,5222,7292,920
3,4013,7183,9874,1144,4115,1295,6195,9576,4277,193
7,8448,7679,417
10,35011,38112,56013,31814,23815,54616,06616,700
15,52815,78615,93816,01115,96615,90615,72515,66015,64715,58015,66216,066
16,13316, 39616, 39116, 39816, 36716, 370
16, 28116, 28716, 27616, 25116, 36816,700
Adden-dum:Policy
loans bylife in-surance
com-panies 3
2 379
2 8073 3693 8063 7693 6583,5403 4113 3993 3893,248
3,0912 9192 6832,3732,1341 9621,8941 9372,0572,240
2,4132,5902,7132,9143,1273,2903,5193,8694,1884,618
5,2315,7336,2346,6557,1407,6789,117
10,05911,30513. 825
11,41611,52211,73411,93912,12612, 366
12, 66312,93313,18413,41813,58013,805
14,06014,29514,53514,75914,95115,180
15,35415, 51715, 67415,813
'Moldings of financial institutions only; holdings of retail outlets are included in "other consumer goods paper."3 Single-payment loans and service credit.* Year-end figures are annual statement asset values; month-end figures are book value of ledger assets. These loans
are not included in consumer credit series.* Preliminary; December by Council of Economic Advisers.
Sources: Board of Governors of the Federal Reserve System and Institute of Life Insurance (except as noted).
266
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-59.—Instalment credit extended and repaid, 1946—70
[Millions of dollars]
Year or month
1946.1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
1965.1966.1967.1968.1969.
1970 i
1969 : Jan..Feb..Mar..Apr..May..June.
July..Aug..Sept.Oct..Nov.Dec.
1970: Jan...Feb..Mar...Apr...May..June..
July..Aug...Sept..Oct.Nov_.Deci.
Total
Ex-tended
8,49512,71315,58518,108
21,55823,57629,51431,55831,051
38,97239,86642,01940,11048,048
49,79349,04856,19163,59170,670
78,58682,33584,69397, 053102, 888
103,850
Re-paid
6,78510,19013,28415,514
18,44522,98525,40527,95630,488
33,63437,05639,87040,33942,603
46,07348,12451,36056.82563,470
69,95776,12081,30688, 08994,609
101,150
Automobilepaper
Ex-tended
1,9693,6925,2176,967
8,5308,95611,76412,98111,807
16,73415.51516,46514,22617,779
17,65716,02919,69422,12624,046
27,22727,34126,66731,42432,354
Re-paid
1,4432,7494,1235,430
7,0119,05810,00310,87911,833
13,08214,55515,54515,41515,579
16,41916,55217,44719,25421,369
23,54325,40426,49928,01829,882
30,000 30,900
Other consumergoods paper
Ex-tended
3,0774,4985,3835,865
7,1507,4859,1869,2279,117
10,64211,72111,81011,73813,981
14,52514,55115,70117,92020,821
22,75025,59126,95230,59333, 079
36,200
Re-paid
2,6033,6454,6255,060
6,0577,4047,8928,6229,145
9,75210,75811,57411,55712,402
13,61314,23514,93516,36918,666
20,51823,17825,53528, 08930,369
34,450
Home repair andmodernization
loans
Ex-tended
423704714734
835841
1,2171,3441,261
1,3931,5821,6741,8712,222
2,2152,0922,0842,1862,225
2,2662,2002,1132,2682,278
2,200
Re-paid
200391579689
717772917
1,1191,255
1,3161,3701,4771,6261,765
1,8762,0152,0102,0462,086
2,1162,1102,1422,1322,163
2,100
Personalloans
Ex-tended
3,0263,8194,2714,542
5,0436,2947,3478,0068,866
10,20311,05112,06912,27514,070
15,39616,37718,71021,35923,578
26,34327,20328,96132,76835,177
35,450
Seasonally adjusted
8,3718,4148,3818,7208,6808,705
8,5218,6808,6698,6618,6328,344
8,5218,6258,3928,4919,0048,683
9,0658,8098,8498,5808,4148,500
7,7307,6167,7357,9607,8347,910
7,8998,0807,9717,9928,0127,929
8,1418,2078,1948,1958,5898,242
8,6228,5778,4908,6628,7168,500
2,6612,7162,7302,7722,7572,725
2,5822,6342,7942,8082,6832,472
2,4792,5362,4962,5712,5952,587
2,6852,5372,6212,3492,1272,200
2,4672,4682,5012,5192,4882,460
2,4712,5622,4982,4632,5032,499
2,4692,5502,5012,5272,6002,573
2,7522,6322,5992,5502,5772,500
2,6542,5982,6252,7632,7672,869
2,7772,8192,7402,7072,8412,838
2,9253,0182,9222,8433,1832,925
3,1243,1683,0713,1133,1133,100
2,4422,3522,4612,5692,5072,602
2,5112,5742,6002,6152,6232,552
2,7222,7612,7922,7292,8882,750
2,8742,9672,9133,0363,0823,000
179201198219209218
185177180175164169
160179165183180189
192173186182180200
173172180185183183
191185156189179185
168171169173174174
170175174179176200
2,8772,8992.8282,9662,9472,893
2,9773,0502,9552,9712,9442,865
2,9572,8922,8092,8943,0462,982
3,0642,9312,9712,9362,9943,000
Re-paid
2,5393,4053,9574,335
4,6605,7516,5937,3368,255
9,48410,37311,27611,74112,857
14,16515,31916,96919,15621,349
23,78025,42827,13029,85032,195
33,700
2,6482,6242,5932,6872,6562,665
2,7262,7592,7172,7252,7072,693
2,7822,7252,7322,7662,9272,745
2,8262,8032,8042,8972,8812,800
* Preliminary; December by Council of Economic Advisers.
Source: Board of Governors of the Federal Reserve System (except as noted).
267
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-60.—Mortgage debt outstanding, by type of property and of financing, 1939-70
[Billions of dollars]
End of yearor quarter
1939
19401941194219431944
1945..1946...194719481949
1950...1951195219531954.
19551956..1957..19581959
19601961.196219631964
1965196619671968 v _
1969 p
1970 v
1967: !...._II111IV
1968: I p...II".-III v_IV p..
1969 : I p...II "..HI 'IV p .
1970: I p...II vIII vIV p
Allprop-erties
35.5
36.537.636.735.334.7
35.541.848.956.262.7
72.882.391.4
101.3113.7
129.9144.5156.5171.8190.8
206.8226.2248.6274.3300.1
325.8347.4370.2397.5425.3
450.0
350.5356.2363.3370.2
375.8382.9389.8397.5
403.7411.7418.7425.3
429.4435.6442.7450.0
Farmprop-erties
6.6
6.56.46.05.44.9
4.84.95.15.35.6
6.16.77.27.78.2
9.09.8
10.411.112.1
12.813.915.216.818.9
Nonfarm properties
Total
28.9
30.031.230.829.929.7
30.836.943.950.957.1
66.775.684.293.6
105.4
120.9134.6146.1160.7178.7
194.0212.3233. 4257.4281.2
21.2 304.623.3 I 324.125.5 344.827.529.5
31.2
23.724.324.925.5
26.026.727.227.5
28.128.829.229.5
29.830.330.831.2
370.0395.9
418.8
326.8331.9338.3344.8
349.8356.1362.6370.0
375.7382.9389.5395.9
399.6405.2411.9418.8
1- to 4-familyhouses
16.3
17.418.418.217.817.9
18.623.028.233.337.6
45.251.758.566.175.7
88.299.0
107.6117.7130.9
141.3153.0166.5182.2197.6
212.9223.6236.1251.2266.8
279.9
224.9227.8232.0236.1
239.1243.2247.0251. 2
254.8259.5263.5266.8
268.5271.7275.8279.8
Multi-family
5.6
5.75.95.85.85.6
5.76.16.67.58.6
10.111.512.312.913.5
14.314.915.316.818.7
20.322.925.829.033.6
37.240.343.947.352.2
57.6
41.041.942.843.9
44.645.346.247.3
48.349.450.652.2
53.254.556.057.7
Com-mer-cial
prop-erties i
7.0
6.97.06.76.36.2
6.47.79.1
10.210.8
11.512.513.414.516.3
18.320.723.226.129.2
32.436.441.146.250.0
54.560.164.871.476.9
81.4
60.962.263.564.8
66.167.669.371.4
72.674.075.476.9
77.879.080.181.4
Nonfarm properties by type of mortgage
FHA-VA underwritten
Total
1.8
2.33.03.74.14.2
4.36.39.8
13.618.1
22.126.629.332.136.2
42.947.851.655.259.2
62.365.569.473.477.2
81.284.188.293.4
100.2
84.585.386.488.2
89.490.792.093.4
94.596.698.5
100.2
102.9103.2
1- to 4-family houses
Total
1.8
2.33.03.74.14.2
4.36.19.3
12.515.0
18.922.925.428.132.1
38.943.947.250.153.8
56.459.162.265.969.2
73.176.179.984.490.2
76.477.278.379.9
81.082.183.284.4
85.387.188.990.2
91.692.1
FHAin-
sured
1.8
2.33.03.74.14.2
4.13.73.85.36.9
8.69.7
10.812.012.8
14.315.516.519.723.8
26.729.532.335.038.3
42.044.847.450.654.5
45.245.746.647.4
48.148.749.650.6
51.452.253.454.5
55.656.1
VAguar-
anteed
0.22.45.57.28.1
10.313.214.616.119.3
24.628.430.730.430.0
29.729.629.930.930.9
31.131.332.533.835.7
31.231.531.732.5
32.933.433.633.8
33.934.935.535.7
36.036.036.9
Conventional'
Total
27.1
27.728.227.125.825.5
26.530.634.137.339.0
44.649.054.961.569.2
78.086.894.5
105.5119.4
131.7146.9164.0184.0204.0
223.4240.0256.6276.6295.7
242.3246.6251.9256.6
260.4265.4270.6276.6
281.2286.3291.0295.7
297.7302.0
l - t o4 -familyhouses
14.5
15.115.414.513.713.7
14.316.918.920.822.6
26.328.833.138.043.6
49.355.160.467.677.0
84.893.9
104.3116.3128.3
139. o147.?156.?166. \176.?
148.4150.6153.7156.1
158.1161.1163.8166.8
169.5172.6174.6176.4
176.9179.6
i Includes negligible amount of farm loans held by savings and loan associations.' Derived figures.
Source: Board of Governors of the Federal Reserve System, estimated and compiled from data supplied by variousGovernment and private organizations.
268
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-61.—Mortgage debt outstanding^ by lender, 1939-70
[Billions of dollars]
End of year or quarter
1939 .
19401941194219431944
19451946194719481949
19501951195219531954
195519561957 - . . -19581959
19601961 - - -196219631964 - .
1965196619671968 P1969 P1970 p
1967: 1IIIII . . . - .IV
1968: 1 pII pIII pIVP
1969: i» _.II P
I I I 'I V P
1970: 1 pII pIII vIV v
Total
35.5
36.537.636.735.334.7
35.541.848.956.262.7
72.882.391.4
101.3113.7
129.9144.5156.5171.8190.8
206.8226.2248.6274.3300.1
325.8347.4370.2397.5425.3450.0
350.5356.2363.3370.2
375.8382.9389.8397.5
403.7411 7418.7425.3
429.4435.6442.7450.0
Total
18.6
19.520.720.720.220.2
21.026.031.837.842.9
51.759.566.975.185.7
99.3111.2119.7131.5145.5
157.6172.6192.5217.1241.0
264.6280.8298.8319.9339.1355.2
282.9287.6293.3298.8
302.6308.1313.5319.9
324.7331.0335.7339.1
340.6344.4349.5355.2
Selected financial institutions
Savingsandloan
associa-tions
3.8
4.14.64.64.64.8
5.47.18.9
10.311.6
13.715.618.422.026.1
31.435.740.045.653.1
60.168.878.890.9
101.3
110.3114.4121.8130.8140.2149.9
114.8116.9119.5121.8
123.3125.9128.3130.8
133.0136.2138.6140.2
140.8143.1146.4149.9
Mutualsavingsbanks
4.8
4.94.84.64.44.3
4.24.44.95.86.7
8.39.9
11.412.915.0
17.519.721.223.325.0
26.929.132.336.240.6
44.647.350.553.556.158.0
48.148.949.750.5
51.251.852.553.5
54.254.855.456.1
56.456.957.458.0
Com-mercialbanks i
4.3
4.64.94.74.54.4
4.87.29.4
10.911.6
13.714.715.916.918.6
21.022.723.325.528.1
28.830.434.539.444.0
49.754.459.065.770.772.9
54.555.757.559.0
60.162.063.865.7
67.169.170.470.7
70.971.372.172.9
Lifeinsurance
com-panies
5.7
6.06.46.76.76.7
6.67.28.7
10.812.9
16.119.321.323.326.0
29.433.035.237.139.2
41.844.246.950.555.2
60.064.667.570.072.074.3
65.566.166.667.5
68.068.468.970.0
70.470.971.372.0
72.673.273.574.3
Other lenders
U.S.agencies2
5.0
4.94.74.33.63.0
2.42.01.81.92.4
2.73.44.04.44.6
5.26.07.47.8
10.0
11.211.812.211.211.4
12.415.818.421.726.832.1
16.416.717.518.4
19.620.621. 121.7
22.623.424.926.8
28.630.031.332.1
Indi-viduals
andothers
11.9
12.012.211.711.511.5
12.113.815.316.517.4
18.419.420.521.823.4
25.427.329.332.535.4
38.041.844.045.947.7
48.750.953.055.859.462.7
51.351.952.553.0
53.554.255.155.8
56.457 258.159.4
60.261.261.962.7
1 Includes loans held by nondeposit trust companies, but not bank trust departments.2 Includes former FNMA and new GNMA, as well as FHA. VA, PHA, Farmers' Home Administration and in earlier years
RFC, HOLC, and FFMC. Also includes U.S.-sponsored agencies such as new FNMA and Federal Land Banks. Other U.S.agencies (amounts small or current separate data not readily available) included with "individuals and others."
Sources: Board of Governors of the Federal Reserve System, based on data from various Government and private or-ganizations.
411-364 O—71- -18269
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-62.—Net public and private debt, 1929-69*
[Billions of dollars]
End of year
1929
19301931193219331934
19351936193719381939 .-
1940 . - .1941.194219431944 . .
19451946194719481949
19501951195219531954
19551956195719581959
1960 . .1961 - - - - -196219631964
19651966196719681969
Total
191.9
192.3182.9175.0168.5171.6
175.0180.6182.2179.9183.3
189.8211.4258.6313.2370.6
405 9396.6415.7431.3445.8
486.2519.2550.2581.6605 9
665 8698.4728.3769.6833.0
874 2930.3996 0
1,070 91,151.6
1, 244.11,341.41,435.51, 567. 81, 699. 5
Public
Fed-erals
16.5
16.518.521.324.330.4
34.437.739.240.542.6
44.856.3
101.7154.4211.9
252.5229.5221.7215.3217.6
217.4216.9221.5226.8229.1
229.6224.3223.0231.0241.4
239.8246.7253.6257.5264.0
266.4271.8286.5291.9289.3
Fed-eral
finan-cial
agen-cies3
0.7.6.7
.71.31.31.41.3
2.92.42.42.53.7
3.54.05.37.27.5
8.911.29.0
21.430.5
Stateandlocal
13.6
14.716.016.616.315.9
16.116.216.116.116.4
16.416.115.414.513.9
13.413.715.017.019.1
21.724.227. 030.735.5
41.144.548.653.759.6
64.970.577.083 990.4
98.3104.8112.8123.2132.4
Total
161.8
161.1148.4137.1127.9125.3
124.5126.7126.9123.3124.3
128.6139.0141.5144.3144.8
140.0153.4178.3198.4208.4
246.4276.8300.4322.7340.0
392.2Ml.2454.3482.4528.3
566.1609.1660.1722.3789.7
870.4953.5
1,027.21,131.41,247.3
Cor-porate
88.9
89.383.580.076.975.5
74.876.175.873.373.5
75.683.491.695.594.1
85.393.5
108.9117.8118.0
142.1162.5171.0179.5182.8
212.1231.7246.7259.5283.3
302.8324.3348.2376.4409.6
454.3506.6546.6610.9692.2
Total
72.9
71.864.957.151.049.8
49.750.651.150.050.8
53.055.649.948.850.7
54.759.969.480.690.4
104.3114.3129.4143.2157.2
180.1195.5207.6222.9245.0
263.3284.8311.9345. 8380.1
416.1446.9480.6520.5555.1
Private
Individual anc
Farm *
12.2
11.811.110.19.18.9
8.98.68.69.08.8
9.19.39.08.27.7
7.37.68,6
10.812.0
12.313.715.216.817.5
18.719.420.223.223.8
25.127.530.233.236.0
39.342.448.352.356.7
Total
60.7
60.053.847.041.940.9
40.842.042.541.042.0
43.946.340.940.542.9
47.452.360.769.778.4
92.0100.6114.2126.4139.7
161.4176.1187.4199.7221.2
238.2257.3281.7312.6344.1
376.8404.5432.3468.2498.4
noncorporate
Nonfarm
Mort-gage
31.2
32.030.929.026.325.5
24.824.424.324.525.0
26.127.126.826.126.0
27.031.837.242.447.1
54.861.768.976.786.4
98.7109.4118.1128.1141.0
151.3164.5180.3198.6218.9
236.8251.6256.9285.3304.5
Com-mer-cialand
finan-cial s
22.4
21.617.614 011.711.2
10.811.211.310.19.8
9.510.08.19.5
11.8
14.712.111.912.913.9
15.816.217.818.420.8
24.024.424.326.528.7
30.834.837.642.345.0
49.755.463.369.771.4
Con-sumer
7.1
6.45.34.03.94.2
5.26.46.96.47.2
8.39.26.04.95.1
5.78.4
11.614.417.4
21.522.727.531.432.5
38.842.345.045.151.5
56.158.063.871.780.3
90.397.5
102.1113.2122.5
1 Net public and private debt is a comprehensive aggregate of the indebtedness of borrowers after eliminating certaintypes of duplicating governmental and corporate debt.
i Net Federal Government and agency debt is the outstanding debt held by the public, as defined in the "Budget of theUnited States Government, for the Fiscal Year ending June 30, 1972."
3 This comprises the debt of federally sponsored agencies, in which there is no longer any Federal proprietary interest.The obligations of the Federal Land Banks are included beginning with 1947, the debt of the Federal Home Loan Banksis included beginning with 1951, and the debts of the Federal National Mortgage Association, Federal Intermediate CreditBanks, and Banks for Cooperatives are included beginning with 1968.
* Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the nonfarm categories.* Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers, and debt owed
to life insurance companies by policyholders.Sources: Department of Commerce (Office of Business Economics), Treasury Department, Department of Agriculture,
Board of Governors of the Federal Reserve System, Federal Home Loan Bank Board, Federal Land Banks, and FederalNational Mortgage Association.
270
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GOVERNMENT FINANCETABLE G-63.—Federal budget receipts and outlays, 1929-72
[Millions of dollars]
Fiscal year
Administrative budget:1929 .
1930 .1931193219331934
19351936193719381939
Consolidated cash statement:
19401941194219431944
19451946 .194719481949 .
19501951 .19521953
Unified budget:1954
195519561957 . .19581959
19601961— . .1962.19631964 . . .
1965 . .19661967 . .19681969 . -
1970 . . .1971119721 . . . .
Receipts
3,862
4,0583,1161,9241,9973,015
3,7063,9974,9565,5884,979
6,8799,202
15,10425,09747,818
50,16243,53743,53145,35741,576
40,94053,39068,01171,495
69,719
65,46974,54779,99079,63679,249
92,49294,38999,676
106,560112,662
116,833130,856149, 552153,671187,784
193,743194,193217,593
Outlays
3,127
3,3203,5774,6594,5986,645
6,4978,4227i 7336,7658,841
9,58913,98034,50078,90993,956
95,18461,73836,93136,49340,570
43,14745,79767,96276,769
70,890
68, 50970,46076,74182, 57592,104
92,22397,795
106,813111,311118,584
118,430134,652158,254178,833184,548
196,585212,755229,232
Surplus ordeficit ( - )
734
387-462
-2 ,735-2 ,602-3 ,630
-2,791-4 ,425-2 ,777-1 ,177-3 ,862
-2 ,710-4 ,778
-19,396-53,812-46,138
-45,022-18,201
6,6008,8641,006
-2 ,2077,593
49-5 ,274
-1 ,170
-3 ,0414,0873,249
-2 ,939-12,855
269-3,406-7,137-4,751-5 ,922
-1 ,596-3 ,796-8 ,702
-25,1613,236
-2 ,845—18,562-11,639
1 Estimate.Note.—Certain interfund transactions are excluded from receipts and outlays starting in 1932. For years prior to 1932 the
arrountsof such transactions are not significant.Refunds of receipts are excluded from receipts and outlays starting in 1913.]
Sources: Treasury Department and Office of Management and Budget.
271
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T A B L E C-64.—Federal budget receipts, outlays, financing, and debt, 1961—72
[Millions of dollars; fiscal years]
Description
Actual
1961 1962 1963 1964 1965 1966
RECEIPTS, EXPENDITURES, AND NET LEND-ING:
Expenditure account:Rece i ptsExpenditures (excludes net lending)...
Expenditure account surplus ordeficit ( - ) .
Loan account:Loan disbursements.Loan repayments
Net lending.
Total budget:ReceiptsOutlays(expenditures and net lending).
Budget surplus or deficit ( - )
BUDGET FINANCING:Net borrowing from the public or repay-
ment of borrowing (—)Other means of financing
Total means of financing.
OUTSTANDING DEBT, END OF YEAR:Gross Federal debt
Held by the public
94,38996,597
-2,208
7,8696,671
1,198
94,38997,795
-3,406
1,4271,979
3,406
292,895238,604
99,676104,462
-4,786
9,6217,271
2,351
99,676106,813
- 7 , 1 3 7
9,769- 2 , 6 3 2
7,137
303,291248,373
106,560111,456
- 4 , 8 9 6
9,6469,791
- 1 4 5
106,560111,311
- 4 , 7 5 1
6,088-1,337
4,751
310,807254,461
112,662118,039
-5,377
10,2379,693
545
112,662118,584
- 5 , 9 2 2
3,0922,830
5,922
316,763257,553
116,833117,181
- 3 4 7
10,9119,662
1,249
116,833118,430
-1,596
4,061-2,465
1.596
323,154261,614
130,856130,820
36
14,62810,796
3,832
130,856134,652
-3,796
3,076720
3,796
329,474264,690
BUDGET RECEIPTSIndividual income taxesCorporation income taxesEmployment taxes and contributionsUnemployment insuranceContributions for other insurance and
retirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts l
MEMORANDUM:Federal funds..Trust funds. . .
BUDGET OUTLAYS (EXPENDITURES ANDNET LENDING)
National defenseInternational affairs and financeSpace research and technologyAgriculture and rural developmentNatural resourcesCommerce and transportationCommunity development and housingEducation and manpowerHealthIncome securityVeterans benefits and servicesI nterestGeneral governmentAllowa nces....Undistributed intragovernmental trans-
actions
94,38941,33820,95412,6792,902
85711,8601,896982919
75,17921,800
97,79547,3813,357744
3,3401,5545,032191
1,227873
21,2275,6888,1081,491
99,67645, 57120, 52312,8353,337
87512,5342,0161,142843
79,70322,652
106,81351,0974,4921,2574,1231,6655,430589
1,4061,139
22, 5305,6258,3211,650
106,56047, 58821,57914, 7464,112
94613,1942,1671,2051,023
83, 55025,799
111,31152,2574 1152,5525,1391,4835,765-8801,5021,393
24, 0845.5209,2151,810
112,66248,69723,49316,9594,045
1,00813,7312,3941,2521,084
87,20528,518
118,58453,5914,1174,1705,1851,9446,511- 1 8 51,7511,737
25,1105,6819,8102,040
116,83348,79225,461 j17,3593,819
1,08114,5702,7161,4421,594
90,94329,230
118,43049,5784,3405,0914,8072,0287,399
2882,2841,730
25,7025,722
10,3572,210
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
-2,443
79,33621,048
- 2 , 5 8 9
- 2 , 5 1 3
86,59422,898
- 2 , 6 8 0
-2,644
90,14123,958
- 2 , 7 8 8
- 2 , 8 7 7
95,76125,884
- 3 , 0 6 1
- 3 , 1 0 9
94,80726,962
-3 ,339
130,85655,44630,07320,6623,777
1,12913,0623,0661,7671,875
101,42732,997
134,65256,7854,4905,9333,6791,9997,1712,6444,2582,54329,0165,92011,2852,292
-3,364
106,51231,708
— 3 , 568
See footnotes at end of table.
272
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TABLE C-64.—Federal budget receipts, outlays, financing, and debt, 1961-72—Continued
[Millions of dollars; fiscal yearsl
Description
RECEIPTS, EXPENDITURES, AND NET LEND-ING:
Expenditure account:ReceiptsExpenditures (excludes net lending)
Expenditure account surplus ordef ic i t ( - )
Loan account:Loan disbursements.Loan repayments
Net lending.
Total budget:ReceiptsOutlays (expenditures and net lending)..
Budget surplus or deficit (—)
BUDGET FINANCING:Net borrowing from the public or repay-
ment of borrowing (—)Other means of financing
Total means of financing-
OUTSTANDING DEBT, END OF YEAR:Gross Federal debt
Held by the public
BUDGET RECEIPTS.
Individual income taxesCorporation income taxesEmployment taxes and contributionsUnemployment insuranceContributions for other insurance and re-
tirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts i
MEMORANDUM:Federal funds.Trust funds
BUDGET OUTLAYS (EXPENDITURES AND NETLENDING)
National defenseInternational affairs and finance _.Space research and technologyAgriculture and rural developmentNatural resourcesCommerce and transportationCommunity development and housingEducation and manpowerHealthIncome securityVeterans benefits and servicesI nterestGeneral governmentAllowancesUndistributed Intragovernmental trans-
actions
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
Actual
1967
149,552153,201
-3,649
17,67612,623
5,053
149,552158,254
- 8 , 702
2,8385,863
8,702
341,348267,529
149,552
61,52633,97127,8233,659
1,86713,7192,9781,9012,108
111,83542,935
158,254
70,0814,5475,4234,3761,8217,5942,6165,8536,72131,1646,89712,5882,510
-3,936
126,77936,693-5,218
1968
153,671172,802
-19,131
20,32714,297
6,030
153,671178,833
-25,161
23,1002,061
25,161
369,769290, 629
153,671
68,72628,66529,2243,346
2,05214,0793,0512,0382,491
114,72644,716
178,833
80, 5174,6194,7215,9431,6558,0944,0766,7399,67234,1086,88213,7442,561
-4,499
143,10541,499-5,771
1969
187,784183, 072
4,712
13,11711,640
1,476
187,784184,548
3,236
-1,044-2,192
2-3,236
367,144279,483
187,784
87, 24936,67834,2363,328
2,35315,2223,4912,3192,908
143,32152,009
184,548
81,2323,7854,2476,2212,0817,9211,9616,52511,69637,6997,64015,7912,866
-5,117
148,81143, 284-7,547
1970
193,743194,456
-714
8,3136,182
2,131
193,743196,588
- 2 , 845
3,814-969
2 2, 845
382, 603284,880
193,743
90,41232, 82939,1333,464
-6,3
156, 30149,065-8,778
Estimate
1971
194,193211,143
-16,951
8,8077,196
1,611
194,193212,755
-18,562
17,600962
18, 562
407,033302,480
194,193
88, 30030,10042,2973,604
2,70115,7053,6442,4303,424
143,15859, 362
196,588
80, 2953,5703,7496,2012,4809,3102,9657,289
12,99543, 7908,677
18,3123,336
3,07216,8003,7302,4903,800
139,13766,165
212,755
76,4433,5863,3685,2622,636
11,4423,8588,300
14,92855, 5469,969
19.4334, 381
-7,197
164,66559, 200
-11,109
1972
217,593228,286
-10,693
9,4408,494
946
217, 593229, 232
-11,639
10, 6001,039
11,639
429,400313, 080
217, 593
93,70036,70050, 2254,183
3,15117,5005,3002,7004,134
153.72075,490
229,232
77,5124,0323,1515.8044,24310,9374,4958, 80816, 01060,73910,64419, 6874,9705,969
-7,771
175,85763, 992
-11,617
1 Includes both Federal funds and trust funds.2 Excludes changes due to ^classification and to conversion of mixed-ownership enterprises to private ownership. (See
footnotes to Table 9, "Budget of the United States Government for the Fiscal Year Ending June 30, 1971," and footnotesto Table 10, "Budget of the United States Government for the Fiscal Year Ending June 30, 1972.")
Sources: Treasury Department and Office of Management and Budget.
273
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TABLE C-65.—Relation of the Federal budget to the Federal sector of the national income andproduct accounts, 1969-72
[Billions of dollars; fiscal years]
Receipts and expendituresActual
1969 1970
Estimate
1971 1972
RECEIPTS
Total receipts, budget-
Government contribution for employee retire-ment (grossing)
Other netting and grossingAdjustment to accrualsOther
Federal sector, national income and product accounts,receipts
EXPENDITURES
Tota I outlays, budget
Loan accountFinancial transactions in the expenditure account..Government contribution for employee retirement
(grossing)Other netting and grossingDefense timing adjustmentOther
Federal sector, national income and product accounts,expenditures
187.8
2.11.3.2
- . 1
191.3
184.5
- 1 . 5- 1 . 0
2.11.3.4.7
186.7
193.7
2.71.5.9
- . 1
198.7
196.6
- 2 . 1- 1 . 8
2.71.51.5
- . 5
197.9
194.2
2.81.51.5
- . 1
200.0
212.8
- 1 . 6- 2 . 4
2.81.51.6
.3
215.0
217.6
2.71.64.4
- . 4
225.9
229.2
- . 9- 2 . 2
2.71.6
.5- . 7
230.1
Note.—See Special Analysis A, "Budget of the United States Government for the Fiscal Year Ending June 30, 1972," fordescription of these categories.
Sources: Treasury Department, Office of Management and Budget, and Department of Commerce (Office of BusinessEconomics).
274
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TABLE C-66.—Receipts and expenditures of the Federal Government sector of the national incomeand product accounts, 1948-72
[Billions of dollars]
Year or quarter
Receipts
Total
43.640.042.060.865.169.365.867.275.880.777.985.494.895.3
104.2110.2115.5120.5132.8147.2160.4191.3198.7200.0225.9
43.338.949.964.067.270.063.872.177.681.678.789.796.598.3
106,4114.5115.0124.7142.5151.2175.4200.6195.4
Porrer-sonaltav
13 X
andnon*tax
ceipts
20.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.357.664.571.089.593.790.699.0
19.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.861.767.579.395.991.8
Cor-po-rate
profitstaxac-
cruals
11.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.525.727.731.031.234.038.936.835.843.5
11.89.8
17.021.518.519.517.020.620.620.218.022.521.721.822.724.626.429.332.130.737.539.234.8
Indi-rect
busi-nesstaxandnon-taxac-cru-als
7.98.08.29.59.7
10.710.410.010.811.711.611.913.213.314.215.015 616.915.715.817.118.619.420.321.8
8.08.08.99.4
10.310.99.7
10.711.211.811.512.513.513.614.615.316.116.515.716.318.019.119.6
Con-tribu-tionsfor
socialinsur-ance
4.64.85.56.67.37.57.88.7
10.211.712.213.816.718.119.922.123 524.628.535.738.344.248.953.261.6
4.54.95.97.17.47.48.19.3
10.612.212.414.817.718.220.523.123.825.133.036.740.746.549.3
Total i
30.939.642.444.666.075.874.267.369.876.083.190.991.398.0
106.4111.4116 9118.5131.9154.5172.3186.7197.9215.0230.1
34.941.340.857.871.077.069.768.171.979.688.991.093.0
102.1110.3113.9118.1123.5142.8163.6181.6191.3206.2
Pur-chases
ofgoodsand
serv-ices
13.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.764.471.785.395.2
100.6100.897.9
102.2
16.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.799.5
101.399.7
Expenditures
Transferpayments
Toper-sons
8.78.1
11.38.18.59.3
10.512.112.814.417.819.820.623.625,126.427 328.331.837.242.448.354.567.072.5
7.68.7
10.88.58.89.5
11.512.413.415.719.520.121.524.925.527.027.830.333.440.045.750.060.0
Tofor-
eign-ers
(net)
2.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12 22.22.32.22.12.22.02.22.5
3.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.22.32.22.12.12.0
Grants-in-aid
to Stateandlocal
govern-ments
1.82.12.42.42.52.82.93.03.23.74.76.26.86.97.68.49.8
10.912.714.817.619.122.127.034.4
2.02.22.32.52.62.82.93.13.34.25.66.86.57.28,09.*1
10.411.114.415.818.420.224.4
Netin-ter-estpaid
4.24.34.44.64.84.85.04.95.15.55.75.97.06.86.87.58 18.59.09.9
10.912.314.014.614.3
4.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.78.38.79.5
10.211.813.114.5
1Subsi-
rliocuieslesscur-rentsur-plusof
gov-ern-mententer-prises
.5
.81.01.31.1.9
1.01.31.72.82.52.42.33.23.83.63 84.14.55.14.14.14.66.24.2
.7
.81.21.31.0.8
1.11.52.42.62.72.12.53.84.03.64.24.35.44.64.14.65.5
Sur-plusor
defi-cit
<-),na-
tion-alin-
comeand
prod-uctac-
:ounts
Fiscal year:1948194919501951195219531954195519561957._19581959 _196019611962196319641965196619671968196919701971219722
Calendar year:19481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970*
1969: IIIIII . .IV. . . .
1970: I
12.7
-.516.2
- 1 . 0- 6 . 5- 8 . 5- . 16.04.7
- 5 . 1- 5 . 5
3.5- 2 . 7- 2 . 1- 1 . 2- 1 . 4
2.0.9
- 7 . 2-11.9
4.6.8
-15.0-4 .2
8.4- 2 . 4
9.16.2
- 3 . 8- 7 . 0- 5 . 9
4.05.72.1
-10.2- 1 . 2
3.5- 3 . 8- 3 . 8
- 1 01.2
2-12*4-6 .2
9.3-10.8
197.2202.5200.8202.0195.9196.7194.9
93.797.395.696.993.493.589.490.8
39.940.238.638.134.834.935.7
-\1 ±.
18.519.019.519.319.319.420.119.6
Seasonally adjusted annual rates
45.146.047.047.748.448.949.749.9
187.7189.1192.5195.9197.7210.9206.7209.5
100.999.8
102.5102.1102.399.798.698.4
48.949.850.351.253.462.461.063.3
1.82.51.92.11.92.01.92.0
19.319.620.021.823.025.124.425.2
12.612.913.213.914.314.314.814.7
4.34.64.64.95.35.35.65.9
9.513.48.36.1
-1 .7-14.2-11.8
* Wage accruals less disbursements have been subtracted from total. These were (in billions of dollars, at seasonallyadjusted annual rates) 2.5, - 2 . 1 , -0 .4 , and .0 in the 4 quarters of 1970, respectively.
' Estimates.Sources: Department of Commerce (Office of Business Economics) and Office of Management and Budget.
275
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TABLE C-67.—Public debt securities by kind of obligation, 1946-70
[Billions of dollars]
End of year or month
194619471948 . .1949 . . . .
19501951195219531954 . .19551956195719581959 .
196019611962 .1963196419651966196719681969
1970
1969: JanFebMarApr .MayJune
JulyAugSeptOctNovDec
1970: JanFebMarAprMayJune _ - - . - -
JulyAug ---SeptOctNovDec
Totalpublicdebt
securi-ties
259.1256.9252.8257.1
256.7259.4267.4275.2278.7280.8276.6274.9282.9290.8
290.2296.2303.5309.3317.9320 9329.3344.7358 0368.2
389.2
359.4358 8359 5358.5360.1353.7
357.0360.2360 7364.4368.1368.2
367.6368.8372.0367.2371.1370.9
376.6380.9378.7380.2383.6389.2
Interest-bearing public debt
Marketable public issuesby maturity class
Within1 year
54 849.644.649.4
49.447.157.773 962.861.768.675.372 679.9
75.385.987.389.488.593 4
105.2104.4108 6118.1
123.4
110.4100 3103 3101.2111.9103.9
107.4112.6112 6109.6120.1118.1
118.6117.8121.3117.1109.4105.5
110.8109.8108.7111.6120.1123.4
1 to 10years
61 756 155.151.8
50 556 762.250 464 768.658.956.971 083 7
89.584.795.694.2
100.495 687.597.0
103 493.3
104.9
103.4111 5109 2109.197.697.6
97.694.194 1
101.093.393.3
93.396.495.295.2
105.5105.5
105.5109.2109.2109.1104.9104.9
10yearsandover
60 160 057.753.9
52.538.828.730 330.232.932.932.032 024.6
24.225.420.124.023.625.625.425.124 824.4
19.4
24.824 724 724.724.624.6
24.624.524.524.524.424.4
24.421.721.721.721.621.6
21.521.521.521.419.519.4
Nonmarketable public issues
Specialissues'
24 629 031 733 9
33 735 939.141 242.643.945.645.844 843.5
44.343.543.443.746.146.352.057.259.171.0
78.1
59.860.961.162.364.966.8
66.868.468.968.169.371.0
70.171.472.171.873.376.3
76.177.576.775.475.678.1
U.S.sav-ings
bonds 2
49 852 155 156 7
58 057 657.957 757 757.956.352.551 248 2
47.247.547.548.849.750 350.851.752.352.2
52.5
52.352.352 352.252.252.2
52.252.152.152.152.152.2
52.152.152.052.052.052.0
52.052.152.152.252.452.5
For-eignand
inter-na-
tional
0.5.7
1.31.82 41.53.24 44.7
6.5
4.44 54.54.54.44.1
4.14.04.14.74.44.7
4.64.95.24.94.85.6
6.26.36.26.06.76.5
Other
6 77 46 39 3
10 120 919 619 317 712 711.910.49 27 8
6.35.34.63.83.52 92.72.62 62.5
2.4
2.62 62 62.52.52.5
2.52.52.52.52.52.5
2.52.52.52.52.52.5
2.52.52.52.52.52.4
Maturedpublicdebtanddebtbear-ing nointer-
est
1 52 72 22 1
2 42 32 12 33 03 02.42.02 13 1
3.43.54.34.14.44 44.33.52 92.0
1.9
1.82 01 91.91.92.0
1.91.91 92.01.82.0
2.02.02.02.11.91.9
1.92.01.91.02.01.9
1 Issued to U.S. Government accounts. These accounts also held 519.2 billion of public marketable and nonmarket-able issues on December 31, 1970.
2 Includes sales of U.S. savings notes from May 1967 through June 30, 1970.
Source: Treasury Department.
276
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-68.—Estimated ownership of public debt securities, 1939-70[Par values,* billions of dollars]
End of year ormonth
19391940194119421943 .19441945194619471948 .19491950 _ _1951195219531954 „ __.1955195619571958195919601961196219631964196519661967 . .1968 .196919701969: Jan
FebMarAprMayJuneJulyAug . . .SeptOctNovDec
1970: JanFeb .MarAprMayJuneJulyAugSeptOctNovDec
Total public debt securities *
Total
41.945.057.9
108.2165.9230.6278.1259.1256.9252.8257.1256.7259.4267.4275.2278.7280.8276.6274.9282.9290 8290 2296.2303.5309.3317.9320.9329.3344.7358.0368.2389.2359.4358.8359.5358.5360.1353.7357.0360.2360.7364.4368.1368.2367.6368.8372.0
! 367.2371.1370.9376.6380.9378.7380.2383.6389.2
Held
, b y
Govern-mentac-
counts
6.16.78.5
10.514.519.023.927 430.833.735.936.039.342 945.446.749.051.252.852.151 452 852.553.255.358.459 765.873.176.689.097.177.378.779.079.882.784.885.086.686.986.187.089.088.689.490.490.292.395.294.896.495.594.494.597.1
Heldby
FederalReserveBanks
2.52.22.36 2
11.518.824.323 322.623.318.920.823.824.725.924.924.824.924.226.326.627 428.930.833.637.040.844.349.152.957.262.152.152.352.453.153.854.154.154.954.155.557.357.255.555.855.856.557.357.758.659.960.060.061.262.1
Held by private investors
Total
33.436.247.191.5
139.8192.8230.0208.3203.6195.8202.4199.9196.3199.8203.8207.1207.0200.5197.9204.5212.7210.0214.8219.5220.5222.5220.5219.2222.4228.5222.0229.9230.0227.8228.1225.6223.6214.8217.9218.6219.6222.7223.8222.0223.5223.6225.9220.5221.4218.0223.2224.6223.2225.8227.9229.9
Com-mercialbanks '
12.713.717.138.257.376.790.874.568.762.466.861.861.563.463.769.162.059.559.567.560.362.167.267.164.263.960.757.463.866.056.862.564.461.261.053.956.755.356.355.054.756.056.756.854.653.055.554.553.953.355.153.056.958.959.962.5
Mutualsavingsbanksand in-surance
com-panies
8.49.2
11.015.420.828.034.736.735.932.731.529.626.225.525.124.123.121.220.119.819.418.017.417.516.816.515.614.112.711.610.09.6
11.511.411.311.111.611.010.610.410.210.110.210.010.110.09.99.99.89.79.9
10.110.09.89.79.6
Othercorpo-
rations4
2.02.04.0
10.116.421.422.215.314.114.816.819.720.719.921.519.123.218.717.713.121.418 718.518.618.718.215.814.912.214.213.311.015.416.215.615.015.412.613.314.312.713.914.313.313.913.212.711.912.511.112.011.710.311.110.811.0
Stateandlocal
govern-ments «
0.4.5.7
1.02.14.36.56.37.37.98.18.89.6
11.112.714.415.416.316.616.518.0
18 719 020.121 121.122 924 324.124 425.423.025 225.925.626.226.025.225.325.725.825.425.925.426.126 225.524.725.224.624.224.224.024.123.223.0
Indi-viduals8
9.410.013.023.337.253.164.064.165.765.566.366.364.665.264.863.565.065.964.963.769.466.165.966.068.269.872.174.674.075.880.982.276.977.177.978.178.377.978.478.779.380.080.280.982.182.883.282.783.082.582.982.382.782.382.482.2
Miscel-laneousinves-tors 1
0.5.8
1.33.56.09.3
11.811.411.912.512.913.613.714.716.116.918.318.919.118.924.326.526.930.131.533.033.433.935.736.735.541.636.635.936.636.335.632.933.934.736.837.236.435.536.638.439.136.837.136.839.338.339.539.642.141.6
1 U.S. savings bonds, series A-F and J, and U.S. savings notes are included at current redemption value.1 Not all of total shown is subject to statutory debt limitation.* Includes commercial banks, trust companies, and stock savings banks in the United States and Territories and island
possessions; figures exclude securities held in trust departments. Since the estimates in this table are on the basis of parvalues and include holdings of banks in United States Territories and possessions, they do not agree with the estimatesin Table C-53, which are based on book values and relate only to banks within the United States.
* Exclusive of banks and insurance companies.5 Includes trust, sinking, and investment funds of State and local governments and their agencies, and of Territories
and possessions.* Includes partnerships and personal trust accounts.* Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers.
Federal oriented agencies not included in Government accounts, and investments of foreign balances and internationalaccounts in this country. Beginning with December 1946, the international accounts include investments by the InternationalBank for Reconstruction and Development, the International Monetary Fund, the International Development Association,the Inter-American Development Bank, and various United Nations' funds, in special non-interest-bearing notes andbonds issued by the U.S. Government.
Source: Treasury Department.277
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-69.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-10
End of year or monthAmount
out-standing
Maturity class
Within1 year
I t o 5years
5 to 10years
10 to 20years
20 yearsand over
Average length
Fiscal year:1946194719481949—.
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965..1966..1967..1968..1969..
1970..
1969: Jan..Feb..Mar..Apr..May..June-July..Aug...Sept..Oct...Nov..D e c .
1970: Jan.. .Feb...Mar . .Apr...May..June..
July..Aug. .Sept..Oct...Nov..D e c .
Millions of dollars Years
189,606168,702160,346155.147
155,310137,917140,407147,335150,354
155,206154,953155,705166,675178,027
183,845187.148196,072203,508206,489
208,695209,127210,672226,592226,107
232,599
238,543236,535237,272234,968234,097226,107
229,581231,230231,203235,029237,919235,863
236,321235,968238,195233,998236,561232,599
237,821240,511239,330242,180244,447247,713
61,97451,21148,74248,130
42,33843,90846,36765,27062,734
49,70358,71471,95267,78272,958
70,46781,12088,44285,29481,424
87,63789,13689,648106,407103,910
105, 530
110,377100,282103,342101,159111,855103,910
107,416112,618112,616109,550120,144118,124
118,633117,796121,272117,148109,432105, 530
110,813109,830108,671111,636120,125123,423
24,76321,85121,63032,562
51,29246,52647,81436,16129,866
39,10734,40140,66942, 55758,304
72,84458,40057,04158,02665,453
56,19860,93371,42464,47062,770
89,615
68,26075,77873,49473,40762,76962,770
62,76369,51969,52274,76273,30573,302
73,29477,10475,88975, 85589,63189,615
89,61491, 07591,06690,99282,30282,318
41,80735,56232,26416,746
7,7928,70713,93315,65127,515
34,25328,90812,32821,47617,052
20,24626,43526,04937,38534,929
39,16933,59624,37830,75434,837
15,882
35,12935,72735,72635,72634,83734,837
34,83724,55324,55326,24720,02620,026
20,02619,32919,32919,32915,87915,882
15,87618,12218,14018,13822,55522,553
17,46118, 59716,22922,821
28,03529,97925,70028,66228,634
28,61328, 57826,40727,65221,625
12,63010,2339,3198,3608,355
8,4498,4398,4258,4078,374
10,524
8,3958,3948,3908,3868,3798,374
8,3728,3708,3678,3638,3608,358
8,35410,55710,55110, 54210, 53410,524
10,51410, 50710, 50110,4938,5668,556
43, 59941,48141,48134,888
25,8538,7976,5941,5921,606
3,5304,3514,3497,2088,088
7,65810,96015,22114,44416,328
17,24117,02316,79716,55316,217
11,048
16,38216,35416,32016,29116,25716,217
16,19416,17016,14516,10716,08316,054
16,01411,18211,15511,12411,08511,048
11,00410,97810,95110,92210,90010,863
Months
1529
27846
104937
461110
11720
1101111110
111010988
776688
676564
Note.—All issues classified to final maturity except partially tax-exempt bonds, which were classified to earliest calldate (the last of these bonds were called on August 14,1962, for redemption on December 15,1962).
Source: Treasury Department.
278
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-70.—Receipts and expenditures of the government sector of the national income and productaccounts, 1929-70
[Billions of dollars]
Calendar year or quarter
1929....
1930 ...1931....1932....1933 ...1934....1935....1936 ...1937....1938....1939....
1940....1941....1942....1943 ...1944....1945....1946 ...1947....1948....1949....
1950....1951....1952....1953...1954....1955....1956...1957...1958 ...1959...
1960...1961...1962...1963...1964...1965....1966..1967...1968...1969....1970 P.
1968:II..III.IV..
1969: I.
III.IV.
1 9 7 0 : I . . .I I . .I I I .IV t
Total government
Re-ceipts
11.310.89.58.99.3
10.511.412.915.415.015.4
17.725.032.649.251.253.250.956.858.956.0
68.784.889.894.389.7
100.4109.0115.6114.7128.9139.8144.6157.0168.8174.1189.1213.3228.9263.3298.7303.4
Ex-pendi-tures
10.311.112.410.610.712.913.416.115.016.817.618.428.864.093.3
103.092.745.542.450.359.160.879.093.7
101.296.797.6
104.1114.9127.2131.0136.1149.0159.9166.9175.4186.9212.3242.9270.7290.1
313.0
Sur-plus ordeficit(-),
nationalincome
andprod-
uct ac-counts
1.0- . 3
- 2 . 9- 1 . 8- 1 . 4- 2 . 4- 2 . 0- 3 . 1
.3- 1 . 8- 2 . 2- . 7
- 3 . 8-31 .4-44.1-51.8-39.5
5.414.48.5
- 3 . 27.85.8
- 3 . 8- 6 . 9- 7 . 0
2.74.9.7
-12.5- 2 . 1
3.7-4.3-2.9
1.8- 1 . 4
2.21.1
-13.9- 7 . 3
8.7- 9 . 6
Federal Government
Re-ceipts
3.8
3.02.01.72.73.54.05.07.06.56.7
8.615.422.939.341.042.539.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3
106.4114.5115.0124.7142.5151.2175.4200.6
195.4
Ex-pendi-tures
2.62.84.23.24.06.46.58.77.48.68.9
10.020.556.185.895.584.635.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0
102.1110.3113.9118.1123.5142.8163.6181.6191.3206.2
Sur-plus ordeficit
nation aincome
andprod-
uct ac-counts
1.2.3
-2 .1- 1 . 5- 1 . 3- 2 . 9- 2 . 6- 3 . 6- . 4
- 2 . 1- 2 . 2- 1 . 3-5 .1
-33.1-46.6-54.5-42.1
3.513.48.4
- 2 . 49.16.2
- 3 . 8- 7 . 0- 5 . 9
4.05.72.1
-10.2- 1 . 2
3.5- 3 . 8- 3 . 8
.7- 3 . 0
1.2- . 2
-12 .4- 6 . 2
9.3-10.8
State and localgovernment
Re-ceipts
7.6
7.87.77.37.28.69.18.69.19.39.6
10.010.410.610.911.1ll.fi12.915.317.619.321.123.325.227.228.831.434.738.241.646.049.953.658.663.469.575.585.293.5
106.3118.3132.4
Ex-pendi-tures
7.88.48.57.67.28.18.68.18.49.09.6
9.39.18.88.48.59.0
11.014.317.420.022.323.725.327.029.932.735.639.544.046.849.654.157.662.267.874.583.995.1
107.4118.9
131.2
Seasonally adjusted annual rates
249.7257.0269.4277.2
291.2299.2300.4304.1
300.2303.6304.2
260.5268.2273.9280.1
283.5287.4292.3297.0
301.5314.5315.3320.6
-10.8-11.2- 4 . 5- 2 . 9
7.711.88.17.1
- 1 . 3-10 .9-11.2
165.3170.0180.1186.2
197.2202.5200.8202.0
195.9196.7194.9
174.5180.5184.2187.2
187.7189.1192.5195.9
197.7210.9206.7209.5
- 9 . 2-10.5- 4 . 1- 1 . 1
9.513.48.36.1
- 1 . 7-14.2-11.8
102.1105.3107.9110.0
113.3116.3119.6123.9
127.3132.0133.7
103.7106.0108.3111.9
115.1117.9119.8122.9
126.8128.7133.0136.3
Sur-plus ordeficit(-),
nationalincome
andprod-
uct ac-counts
-0.2- . 6- . 8- . 3- . 1
.5
.6
.5
.7
.40).6
1.31.82.52.72.61.91.0
. 1- . 7
- 1 . 2- . 4
.1- 1 . 1- 1 . 3
- . 9- 1 . 4- 2 . 3
- . 8.2
- . 5.9
1.21.71.01.3
- 1 . 6- 1 . 1- . 61.2
- 1 . 61
- . 4- 1 . 9
- 1 . 8- 1 . 5- . 31.0
.53.4.7
1 Surplus of $32 million.2 Deficit of $41 million.
Note.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and localreceipts and expenditures. Total government receipts and expenditures have been adjusted to eliminate this duplication.
Source: Department of Commerce, Office of Business Economics.
279
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-71.—Receipts and expenditures of the State and local government sector of the nationalincome and product accounts, 1946-70
[Billions of dollars]
Calendaryear orquarter
1946194719481949
1950.. . .19511952. .19531954
19551956 . .1957...19581959
I9601961196219631964 . . .
196519661967 . . . .19681969
1970P
1968: 1IIIIIIV
1969: 1IIIIIIV
1970: 1
III... .
Receipts
Total
12.915.317.619.3
21.123.325.227.228.8
31.434.738.241.646.0
49.953.658.663.469.5
75.585.293.5
106.3118.3
132.4
Per-sonaltaxand
nontaxreceipts
1.51.82.12.4
2.62.93.13.43.7
4.14.75.25.66.3
7.37 78.79.4
10.8
11.813.715.518,321.4
24.6
Cor-porateprofits
taxaccruals
0.5.6.7.6
.8
.9
.8
.8
.8
1.01.0
00?
3
1 4I 7i q
2.12.22.43.13.5
3.2
Indirectbusi-nesstaxand
nontaxaccruals
9.310.612.113.3
14.515.817.318.719.7
21.423.625.527.028.9
31.734.136.939.442.3
45.949.954.160.166.1
72.4
Contri-butions
forsocialinsur-ance
0.5.6.7.8
1.01.21.31.51.7
1.82.02.32.52.7
3.03.23.53.84.1
4.55.05.76.47.1
7.8
Fed-eral
grants-in-aid
1.11.72.02.2
2.32 52.62.82.9
3.13.34.25.66.8
6.57.28.09.1
10.4
11.114.415.818.420.2
24.4
Expenditures
Total
11.014.317.420.0
22.323 725.327.029.9
32.735.639.544.046.8
49.654.157.662.267.8
74.583.995.1
107.4118.9
131.2
Pur-chases
ofgoodsand
serv-ices
9.812.615.017.7
19.521 522.924.627.4
30.133.036.640.643.3
46.150.253.758.263.5
70.179.089.4
100.7110.8
120.8
Trans-fer
pay-ments
toper-sons
1.72.32.92.9
3.53 03 23.33.4
3.73.84.24.64.8
5.15.55.76.06.5
6.9118.7
10.011.5
13.9
Netinterest
paid
0.3.3.3
.333
'.4
5.5.5.67
.7
.8
.8
.8
.7
.5
.3
.2
.2
.1
.3
Less:Currentsurplusof gov-
ern-mententer-prises
0.7.8.8.9
.91 i1 l1.21.4
1.61.71.81.82.0
2.22.32.62.82.9
3.03.13.23.43.6
3.8
Surplusor
deficit
nationalincome
andprod-
uct ac-counts
1.91.0.1
- . 7
- 1 . 2— 4
.1- 1 . 1
- 1 3- . 9
- 1 . 4- 2 . 3- . 8
.2- . 5
7
n3
.61
- . 6
1.2
Seasonally adjusted annual rates
102.1105.3107.9110.0
113.3116.3119.6123.9
127.3132.0133.7
17.218.018.619.3
20.020.821.923.0
23.624.224.925.7
3.13.13.13.2
3.63.63.43.3
3.23.23.3
58.059.561.061.9
63.665.367.168.4
70.071.773.274.6
6.26.36.56.7
6.87.07.27.4
7.57.77.98.1
17.718.318.619.0
19.319.620.021.8
23.025.124.425.2
103.7106.0108.3111.9
115.1117.9119.8122.9
126.8128.7133.0136.3
97.299.4
101.4104.7
107.5110.1111.6114.2
117.4118.7122.4124.8
9.69.8
10.210.5
11.011.211.712.2
12.913.514.115.1
0.2.2.1.1
.1
.1
.2
.2
.2
.3
.3
.3
3.33.43.43.5
3.53.63.63.7
3.73.83.83.9
- 1 . 6- . 7- . 4
- 1 . 9
- 1 . 8- 1 . 5- . 31.0
.53.4.7
i Deficit of $41 mi'lion.Source: Department of Commerce, Office of Business Economics.
280
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C—72.—State and local government revenues and expenditures, selected fiscal years, 1927-69
[Millions of dollars]
Fiscal year»
General revenues by source2
TotalProp-erty
taxes
Salesand
grossre-
ceiptstaxes
Indi-vidualincometaxes
Corpo-ration
netincometaxes
Reve-nue
fromFederaGovern
ment
Allotherreve-nues3
General expenditures by function 2
Total Edu-cation
High-ways
Publicwel-fare
Allother*
1927..
1932..1934..1936..1938..
1940-1942..1944..1946..1948..
1950..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..
1962-63'1963-64 51964-65*
1965-66*1966-67* . . . .1967-68 5 . . . .1968-69 5
7,271
7,2677,6788,3959,228
9,60910,41810,90812,35617,250
20,91125,18127,30729,012
31,07334,66738,16441,21945,306
50,50554,03758,25262,890
62,26968,44374,000
83,03691,197101,264114,550
4,730
4,4874,0764,0934,440
4,4304,5374,6044,9866,126
7,3498,6529,3759,967
10,73511,74912,86414,04714,983
16,40518,00219,05420,089
19,83321,24122,583
24,67026,04727,74730,673
470
7521,0081,4841,794
1,9822,3512,2892,9864,442
5,1546,3576,9277,276
7,6438,6919,4679,829
10,43"
11,84912,46313,49414,456
14,44615,76217,118
19,08520,53022,91126, 519
70
748C153218
22427634242;543
788998
1,0651,127
1,2371,5381,7541,7591,994
2,4632,6133,0373,269
3,26;3,794,090
4,76'5,8267,3088,908
92
7949113165
156272451447592
593846817778
744890984
1,0181,001
1,1801,2661,3081,505
1,5051,6951,929
2,0382,222,5183,180
116
2321,016948800
945858954855
1,861
2,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9747,1317,8718,722
8,66310,00211,029
1,793
1,6431,4491,6041,811
1,8722,1232,2692,6613,685
4,5415,7636; 2526,897
7,5848,4659,2509,699
10,516
11,63412,56313,48914,850
14,55615,95117,250
7,210
7,7657,1817,6448, 757
9,2299,1908,86311,02817,684
22,78726,09827,91030,701
33,72436,71140,37544,85148, 887
51,87656,20160,20664,816
63,97769,30274,546
13,214 19,26915,370 21,19717,181 23,598102;19,153 26, I P
82,84393,35002,411116,727
2,235
2,3111,8312,1772,491
2,6382,5862,7933,3565,379
7,1778,3189,39010,557
11,90713,22014,13415,91917,283
18,71920,57422,21623,776
23,72926,28628,563
33,28737,91941,15847,238
1,809
1,7411,5091,4251,650
1,5731,4901,2001,6723,036
3,8034,6504,9875,527
6,4526,9537,8168,5679,592
9,4289,84410,35711,136
11,15011,66412,221
12,77013,93214,48115,417
151
444889827
1,069
1,1561,2251,1331,4092,099
2,9402,7882,9143,060
3,1683,1393,4853,8184,136
4,4044,7205,0845,481
5,4205,7666,315
6,75;8,2189,85712,110
3,015
3,2692,9523,2153,547
3,8623,8893,7374,5917,170
8,86710,34210,61911,557
12,19713,39914,94016,54717,876
19,32521,06322,54924,423
23,67825,58627,447
30,02933,28136,91541,962
i Fiscal years not the same for all governments. See footnote 5.* Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust activities.
Intergovernmental receipts and payments between State and local governments are also excluded.»Includes licenses and other taxes and charges and miscellaneous revenues.* Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation, housing and
urban renewal, local parks and recreation, general control, financial administration, interest on general debt, and un-allocable expenditures.
* Data for fiscal year ending in the 12-month period through June 30. Data for 1963 and earlier years include local govern-ment amounts grouped in terms of fiscal years ended during the particular calendar year.
Note.—Data are not available for intervening years.See Table C-62 for net debt of State and local governments.
Source: Department of Commerce, Bureau of the Census.
28 l
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CORPORATE PROFITS AND FINANCETABLE G-73.—Profits before and after taxes, all private corporations, 1929-70
[Billions of dollars]
Year orquarter
192919301931193219331934193519361937193819391940194119421943194419451946 . . . .19471948194919501951195219531954...195519561957195819591960196119621963196419651966 . . .1967196819691970 P . . . .
1968: 1II .IIIIV
1969: 1.IIIIIIV . . . .
1970: 1IIIIIIV p .
Corporate profits (before taxes)inventory valuation adjustment
Allin-
dus-tries
10.57.02.0
- 1 . 3- 1 . 2
1 73.45.66.84.96.39 8
15.220.324.423.819.219.325 633.030.837.742.739 939.638.046.946.145 641.151.749.950 355.758 966.376 182 478 785.485.877.4
Manufacturing
Total
5.23.91.3
- . 5- . 41 l2.13.23.82.33.35 59.5
11.813.813.29 79.0
13 617.616.220.924.621 622.019.926.024.724 019.326.324 423 326.628 832.739 342 638 742.441.834.1
Dur-able
goodsin-
dus-tries
2.61.5.0
- 1 . 0- . 4
.3
.91.71.7.8
1.73.16.47.28.17.44.52.45.87.58.1
12.013.211.711.910.514.312.813 39.3
13.612.01-1.414.115 817.822.824.020.723.322.415.6
Non-dur-able
goodsin-
dus-tries
2.62.41.3.5.0.8
1.11.52.11.61.72.43.14.65.75.95.26.67.8
10.08.18.9
11.49.9
10.19.4
11.811.910.710.012.712.411.912.513 014.916.618.618.019.119.318.5
Trans-porta-tion,com-muni-cation,
andpubHc
utilities
1.81.2.5.2.0
.4
.7
.8
.51.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85.97.07.57.98.59.5
10.111.111.910.811.010.79.1
and
Allother
in-dus-tries
3.41.9
-.9- . 8
3.9
1.72.22.12.03 03 75.16.26.76 78.59 9
12.511.612.713.513.312.613.415.215.615 815.918.417.919 120.520 623.525 627.929.132.133.434.2
Cor-po-rateprof-itsbe-fore
taxes
10.03.7
l'.O2 33.66.36.84.07.0
10 017.721.525.124.119 724.631 535.228.942.643.938.940.638.348.648.847.241.452.149.750 355.459.466.877.884.279.888.791.282.3
Cor-po-ratetaxlia-bil-ity i
1.4.8.5.4.5
1.01.41.51.01.42.87.6
11.414.112.910.79.1
11.312.510.417.822.319.420.317.721.621.721.219.023.723.023.124.226.328.331.334.333.240.642.737.9
Corporate profitsafter taxes
Total
8.62.9
- . 9- 2 . 7
.41.62.64.95.32.95.67.2
10.110.111.111.29.0
15.520.222.718.524.921.619.620.420.627.027.226.022.328.526.727.231.233.138.446.549.946.648.248.544.4
Divi-dends
5.85.54.12.52.02 62.84.54.73.23.84 04.44.34.44.64.65.66.37.07.28.88.68.68.99.3
10.511.311.711.612.613.413.815.216.517.819.820.821.423.324.725.2
Un-dis-trib-utedprof-its
2.8- 2 . 6- 4 . 9- 5 . 2- 1 . 6- 1 0- . 2
'.6- . 21.83 25 75.96.66.54 49.9
13 915.611.316.013.011.011.511.316.515.914 210.815.913.213 516.016 620.626.729.125.324.923.919.2
Corpo-rate
capitalcon-
sump-tion
allow-ances 2
4.24.34.34.03.83.63.63.63.63.73.7
3.84.25.05.46.16.44.75.87.07.98.8
10.311.513.215.017.418.920.822.023.524.926.230.131.833.936.439.543.046.549.853.5
Profitsplus
capitalcon-
sump-tion
allow-ances '
12.87.23.51.34.25.26.38.58.96.69.3
11 014 415.216.417.215 420.226 029.726.533.731.831.033.535.544.446.146 844.352.051.653 561.364 872.382 989.589.694.798.397.9
Seasonally adjusted annual rates
81.386.087.487.187.187.486.882.076.777.578.4
40.142.842.943.743.442.941.839.135.235.534.7
21.523.923.624.424.023.022.720.016.917.216.3
18.618.919.419.219.419.919.119.018.318.218.3
11.11L011.210.711.010. a10.610.3
8.69.1
30.132.233.332.632.733.734.432.632.433.434.6
86.788.688.491.393.093.489.988.582.682.084.4
39.840.440.441.743.543.842.141.438.038.138.9
46.948.348.049.649.549.747.947.144.643.945.4
22.323.123.824.124.124.425.025.225.225.125.425.1
24.725.224.225.525.525.222.921.919.418.820.0
45.346.446.947.448.549.3
•50.151.052.053.054.055.0
92.394.694.897.098.199.098.098.196.696.999.4
1 Federal and State corporate income and excess profits taxes.> Includes depreciation and accidental damages.* Corporate profits after taxes phis corporate capital consumption allowances.
Source: Department of Commerce, Office of Business Economics.
282
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TABLE Q-74.—Saless profits, and stockholders1 equity, all manufacturing corporations (exceptnewspapers1), 1917-70
Year orquarter
1947..1948-1949.
1950..1951..1952..1953..1954..
1955..1956-1957..1958..1959..
I960..1961-1962..1963..1964..
1965...1966...1967...1968...1969L
All manufacturingcorporations
[Billions of dollars]
Durable goods industries
Sales(net)
1968: IIIIII....IV....
1969: P . . . .I I - . .lll..._IV....
1970: I
150.7165.6154.9
181.9245.0250.2265.9248.5
278.4307.3320.0305.3338.0
345.7356.4389.9412.7443.1
492.2554.2575.4631.9694.6
148.9158.9155.7168.4
162.8176.1172.4183.3
170.4181.3176.7
Profits
BeforeFederalincometaxes
16.618.414.4
23.227.422.924.420.9
28.629.828.222.729.7
27.527.531.934.939.6
46.551.847.855.458.1
12.514.813.214.9
14.115.813.914.4
12.113.711.7
After:ederalncometaxes
10.111.59.0
12.911.910.711.311.2
15.116.215.412.716.3
15.215.317.719.523.2
27.530.929.032.133.2
7.48.37.68.7
7.98.98.08.4
6.98.07.0
Stock-holders'equity 2
Nondurable goodsindustries
281.5288.0293.0297.1
300.9306.0309.5
Stock-olders'equity -
31.134.137.0
39.947.249.852.454.9
58.865.270.572.877.9
82.384.989.193.398.5
105.4115.2125.0135.6147.6
130.9134.1137.2140.4
143.4146.8148.9151.1
152.2155.1156.6
Sales(net)
84.190.484.6
95.1128.1128.0128.0125.7
136.3147.8154.1156.7168.5
171.8181.2194.4203.6216.8
235.2262.4274.8296.4328.1
70.172.974.878.6
76.881.982.786.8
83.286.087.0
Profits
BeforeFederalincometaxes
9.09.57.0
10.312.110.010.49.6
12.113.212.411.313.9
13.513.915.116.418.3
20.322.622.024.826.6
5.86.26.46.3
6.36.96.86.6
6.26.46.4
AfterFederalincometaxes
5.66.24.6
6.15.75.25.55.6
7.07.87.56.98.3
8.28.59.2
10.011.6
13.014.614.415.516.4
3.73.84.04.1
3.84.24.24.2
3.74.04.0
Stock-holders'equity 2
34.038.140.6
43.551.153.955.758.2
61.366.470.674.679.2
83.187.792.396.3
101.3
106.3115.1122.6130.3142.3
127.7129.4131.2132.9
138.0141.2144.1146.0
148.7151.0152.9
iIncludes newspapers beginning 1969.2 Annual data are average equity for the year (using four end-of-quarter figures).
Note.—For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for ManufacturingCorporations," Federal Trade Commission and Securities and Exchange Commission.
Data are not necessarily comparable from one period to another due to changes in accounting procedures, industryclassifications, sampling procedures, etc. Specific information about the effects of the more significant changes and re-visions is contained in the following issues of the "Quarterly Financial Report": third quarter 1953, third quarter 1956,first quarter 1959, and first quarter 1965.
Sources: Federal Trade Commission and Securities and Exchange Commission.
283
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—75.—Relation of profits after taxes to stockholders* equity and to sales, all manufac-turing corporations (except newspapers*), by industry group, 1949-70
Year orquarter
194919501951195219531954. . .19551956195719581959
19601961 .196219631964196519661967 . .1968 .1969 i
1969: MIII I I —IV
1970: 1IIIII
1949
19501951 .1952195319541955 . . .195619571958 .1 9 5 9 . . . . . .
I9601961196219631964 . . . .19651966196719681969 1
1969: MIIIllIV
1970: 1IIIll
Allman-ufac-tur-ingcor-
pora-tions(ex-cept
news-pa P-ersi)
Totaldur-
able 2
Mo-tor
vehi-clesand
equip-ment
Air-craftand
parts
Elec-tricalma-
chin-ery,
equip-ment,andsup-plies
I
Maivia-
rhincnin-ery
(ex-ceptelec-trical)
Durable goods industries
Fab-ri-
catedmetalprod-ucts
Pri-maryironandsteelin-
dus-tries
p . ;rTI-
marynon-forier-rousmetal
dus-tries
Stone,clay,and
glassprod-ucts
Furr H i -
fi itu reandfjyTlA"
Lum-berand
woodprod-ucts(ex-cept
furni-ture)
In-stru-mentsandre-
latedprod-ucts
Mis-cella-neousman-ufac-tur-ing(in-
clud-ing
ord-nance)
Ratio of profits after Federal income taxes (annual rate) to stockholders' equity—percent 3
11.615.412.110.310.59.9
12.612.310.98.6
10.4
9.28.99.8
10.311.613.013.411.712.111.5
11.312.410.911.39 2
10.49.0
5.8
7.14.84.34.34.55.45.34.84.24.8
4.44.34.54.75.25.65.65.05.14.8
4.95.14.64.64.04.43.9
12.1
16.913.011.111.110.313.812.811.38.0
10.4
8 58.19.6
10.111.713.814.211.712.211.4
11.412.910.311.18 3
10.37.5
6.4
7.75.34.54.24.65.75.24.83.94.8
4.03.94.44.55.15.75.64.84.94.6
4.85.04.34.43.64.23.3
22.1
25.314.313.913.914.121.713.114.28.2
14.5
13 511.416.316.716 919.515 911.715.112.6
15.414.57.2
13.49 1
12.51.0
7.98.34.74.73.95.16.95.25 44.06.3
5.95.56.96.97.07.26.24.95.74.75.65.23.14.83.84.6.5
17.713.28.1
7.39.8
12.711.312.215.214.412.914.210.6
12.111.09.79.57 87.56.1
13.620.914.013.713.412.412.311.412.510.212.5
9.58.9
10.010.111.213.514 812.812.211.1
11.211.311.210.77 79.98.5
11.614.113.011.39.88.6
10.312.610 76 99.7
7 57.89.19 6
12 514.115 012.912.312.2
11.214.611.711.49 7
11.39.5
10.416.013.410.19.87.6
10.010.79.37.38.0
5.65.97.98.3
10.113.214.712.711.711.3
10.812.511.110.78 8
10.49.1
10.0
14.312.38.5
10.78.1
13.512.711.47.28.0
7.26.15.47.08.89.8
10.27.77.67.6
7.48.76.18.35 35.33.8
8.1
15.113.811 611.110.415.516.49 36 07.9
7.17.17.57.69.8
11.914 810.910 812.2
11.312.911.513.012 713.29.1
13.1
17.714.211 711.812.515 614.912 410* 212.7
9 98 98.98 79 6
10.39 98*29 29.2
4.911.912.27.91 59.39.8
8.1
15.211.38.68.26.09 2
11.68 56.38.9
6 54.97.98 3
10 113.414 212.112 212.6
11.013.413.512.67 07.69.2
Profits after Federal income taxes per dollar of sales—cents
2 92.41.61.41.82.42.32,63.33.02.73.23.0
3.53.33.02.52.32.11.9
5.7
7.25.04.54.14.54.43.84 23.84.4
3.53.53.73.84.24.84. &4.44.33.9
4.03.94.03.62.93.63.2
6.4
7.35.54.84.24.45.15.44 83 74.8
3.94.14.54.75.86.26.45.75.55.4
5.26.15.35.14.65.04.5
5.1
6.85.04.03.63.13.84.03 63.13.2
2.42.53.13.23.74.54.94.54.13.8
3.84.13.63.53.33.63.2
6.57.95.84.75.35.37 26.76 65.45.45.14.63.94.85.65.75.84.84.64.4
4.54.83.64.73.03.02.2
6.910.27 86.76.36.68 39.36 64.75.8
5.45.35.55.36.57.38.26.86.26.6
6.46.86.26.97.17.35.4
8.610.17.16.66.57.48 68.27 56.87.9
6.65.85.65.35.65.95.64.85.24.7
2.95.75.94.0.9
4.74.6
3.35.13.42.72.62.12.93.42 62.02.72.11.62.32.42.93.73.93.53.43.5
3.13.63.83.52.22.42.9
9.117.511.98.57.16.3
11.18.74.75.79.4
3 64.15.68 29.9
10.110.08.6
14.613.0
17.118.98.68.05 17.17.1
5.99.45.54.13.53.45.43.92 32.84.2
1.71.92.53.33.94.03.83.45.34.8
6.36.63.23.12.32.92.8
12.1
16.713.211 611.412.312.512.412 010.613.1
11 610.612.012 114.417.520 918.016.615.6
13.816.015.716.812 713.914.8
7.1
8.66.14.84.65.56.05.85 75.46.5
5.95.45.96.07.28.69.58.58.17.8
7.37.88.17.96.97.27.6
7.2
12.39.77.08.27.58.5
11.67.78.29.3
9 29.99.48.*9.5
10.715.413.112.411.6
11.510.511.513.07 2
10.310.7
3.6
5.63.72.72.92.83.13.62.53.(3.5
3.53.63J3.33.63.84.94.24.03.8
4.13.53.83.82.63.53.6
See footnotes at end of table.
284
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G—75.—Relation of profits after taxes to stockholders' equity and to sales, all manufac-turing corporations (except newspapers1), by industry group, 1949-70—Continued
Year orquarter
19491950195119521953 -1954.1 9 5 5 . . . . . . .1956. .1957195819591960 .1961.19621963 . .196419651966. . .19671968196911969: 1 i.._.
l l . . . _I I I . . .IV... _
1970: 1II —_I I I . . .
194919501 9 5 1 . . . . . . . .1 9 5 2 . . . : . . .195319541955 IJ.-l195619571958 . . .19591960 _ .19611952 . . .19631964. . . .19651966 . . .1 9 6 7 . . - — .1968196911969: 11--._.
I I . . . .I I I . . .IV_.__
W O : 1IL._in
Nondurable goods industries
Totalnon-dur-
able a
Foodandkin-dredprod-ucts
To-baccoman-ufac-tures
Tex-tilemil!
prod-ucts
Ap-pareland
relatedprod-ucts
Paperand
alliedprod-ucts
Print-ingandpub-lish-ing
(ex-cept
news-pa-
pers i)
Chem-icalsand
alliedprod-ucts
Petro-leumrefin-ing
Rub-berandmis-
cella-neousplasticprod-ucts
Leatherand
leatherprod-ucts
Ratio of profits after Federal income taxes (annual rate) to stockholders' equity—percenta
11.214.111.29.79.99.6
11.411.810.69.2
10.49.89.69.9
10.411.512.212.711.811.911.5
11.111.911.511.410.010.510.5
5.46.54..54.14.34.4
." ;5.15.34.94.44.94.84.74.74.95.45.55.65.35 25.05.05.15.04.84.54.64.6
11.812.38.17 68.18.18.99.38.78.79.38.78.98.89.0
10.010 711.210.810.810.99.6
10.711.911.210.010.411.8
3 33.42.01.92.02.12.32.42.22.22.42.32.32.32.42.72 72.72.62 62.62.42.62.82.52.42.42.7
12.611.59.58 49.4
10.211.411.712.513.513 413 413.613 113.413.413 514.114.414 414 512.114.815.615.113.715.017.4
7.612.78.24 24.61.85.75.84.23.57.55.85.06.26.18.5
10 910.17.68.87.97.28.87.77.85.44.85.4
7.510.12.94 45.14.56.18.16.34.98.67.77.29 37.7
11.712 713,312.013 011 910.311.41-5.910.18.37.2
14.4
10 716 213.910 510 19.9
11.511 68.98.19 58.57.98 18.19.39 4
10.69.19 7
10 19.8
11.19.69.98.38.26.2
11.411 510.39 19.49.2
10.213 011.79.0
11.410 68.5
10 39.2
12.614 215.613.012 512 610.813.112.414.19.2
12.711.2
13 217.812.210 910.711.614.714.213.311.413 712 211.812 412.914.415 215.113.113 312 812.913.812.412.011.912.211.2
15.213 313 412.713.413.912.510.09.8
10.110.310 111.311.411 812.412.512.311.712.011.911.411.610.510.810.7
Profits after Federal income taxes per dollar of sales—cents
5 14 93.83.23.74.24.85.05.25.45.45.55.75.75.95.95 95.95.95 55.24.65.25.65.25.45.46.2
4 15.83.41.92.21.02.62.61.91.63.02.52.12.42.33.13.83.62.93.12.92.73.22.82.72.11.82.0
2 12 8.6
1.01.21.11.31.61.31.01.51.41.31.61.4?. 12 32.42.32 42.32.22.23.01.91.71.52.9
6 58 86.65.75.45.66.16.15.04.75.25.04.74.64.55.14 95.44.74 74.84.75.24.74.64.23.93.1
4 54.53.73.33.43.43.64.23.73.14.03.62.83.43.24.34.85.14.44.14.74.14.94.74.93.64.94.2
8 210.36.56.16.16.88.38.07.67.07.97.57.37.47.57.97.97.86.96.86.56.76.86.36.16.26.15.9
11.110.110.410.611.111.610.69.59.59.9
10.39.7
10.810.911.111.211.010.710.110.610.210.09.89.19.39.2
8.716.914.811 111.310.613.212.211.19.1
11.09.19.39.69.2
10.611.712.210.312.310.39.6
11.99.5
10.47.78.57.4
3.85.84.53.63.84.Q4.44.44.23.54.03.63.83.73.64.14.34.43.94.53.83.74.13.53.73.03.12.9
6 210 92.15 86.05.98.57.27.05.78.56.34.46.96.9
10.511.612.911.913.09.38.68.09.4
11.09.09.1
10.5
2.23.7
.61.81.81.92.52.12.01.72.21.61.11.81.82.62.83.03.03.32.62.42.32.63.02.52.62.7
Mncludes newspapers beginning 1969.Mncludes certain industries not shown separately.3 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity
at end of quarter only.Note.—For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for Manufacturing
Corporations," Federal Trade Commission and Securities and Exchange Commission. See also Note, Table C-74.
Sources: Federal Trade Commission and Securities and Exchange Commission.
285
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T A B L E C-76.—Sources and uses of funds, nonfarm nonfinancial corporate business y 1959—69
[Billions of dollars]
Source or use of funds
Sources, total
Internal sources *
Undistributed profits1 _Corporate inventory valuation ad-
justmentCapital consumption allowances'.
External sources
StocksBondsMortgagesBank loans neeOther loansTrade debtProfits tax liabilityOther liabilities
Uses, total
Purchases of physical assets
Nonresidential fixed investment-Residential structuresChange in business inventories..
Increase in financial assets
Liquid assets .Demand deposits and cur-
rencyTime depositsU.S. Government securitiesOpen-market paperState and local obligations
Consumer creditTrade creditOther financial assets
Discrepancy (sources less uses)
1959
57.9
35.0
12.6
- . 522.9
22.9
2.23.03.03.5
- . 35.52.43.6
53.1
36.9
31.11.74.1
16.2
5.6
- 1 . 04
6! 6- . 2
.7
.87.72.0
4.8
1960
48.1
34.4
10.0
.224.2
13.7
1.63.52.51.91.9.6
- 2 . 24.0
43.7
39.0
34.91.13.0
4.7
- 3 . 2
- . 51.3
- 5 . 41.7
- . 2
.45.32.2
4.3
1961
56.6
35.6
10.2
- . 125.4
21.0
2.54.63.9
5.41.41.7
52.2
36.7
33.21.91.5
15.6
3.7
1.71.9
- . 2.4.0
.29.52.1
4.3
1962
64.9
41.8
12.4
.329.2
23.1
.64.64.53.0
.04.6
.65.2
60.0
44.0
37.02.34.7
16.0
3.5
- . 93.7
.5
.6- . 3
.78.53.2
5.0
1963
67.1
43.9
13.6
- . 530.8
23.2
- . 33.94.93.7
.25.31.93.7
63.2
45.6
38.62.64.3
17.7
4.7
- . 83.9.5.9.2
1.08.13.9
3.8
1964
71.8
50.5
18.3
- . 532.8
21.3
1.44.03.63.8
.93.6
.53.5
64.9
52.1
44.12.15.9
12.8
1.2
- 2 . 33.2
- 1 . 51.6.2
1.38.12.2
6.9
1965
93.1
56.6
23.1
- 1 . 735.2
36.5
.05.43.9
10.6.6
9.12.24.6
85.8
62.8
52.82.07.9
23.1
1.7
- 1 . 53.9
- 1 . 6.5.5
1.215.15.1
7.2
1966
100.6
61.2
24.7
- 1 . 838.2
39.4
1.210.24.28.41 47.3
6! 5
92.5
77.1
61.61.1
14.4
15.5
1.9
7- . 7
- 1 . 22.01.0
1.211.3
1.0
8.0
1967
94.4
61.5
21.1
- 1 . 141.5
33.0
2.314.74.56.41 42.6
- 4 . 15.2
85.5
72.0
62.52 37.3
13.5
.0
- 2 24.1
- 3 . 11.5
- . 4
.98.83.8
9.0
1968
109.8
62.5
20.9
—3.344.9
47 3
g12! 95.89.63 65.73.76.9
103.5
76.9
67.52 47.0
26.6
10.1
1 32.21.84.5
.4
1.714.8
.1
6.3
1969
118 4
62.5
19.9
—5 448.0
56 0
4.312.14.3
10.96 2
10.98
6.5
111.2
87.0
76.92 97.2
24.2
2.3
5- 7 . 8—1 4
8.72.3
1.317.33.4
7.2
'The figures shown here for "internal sources," "undistributed profits," and "capital consumption allowances"differ from those shown for "cash flow, net of dividends," "undistributed profits." and "capital consumption allowances"in the gross corporate product table in the national income and product accounts of the Department of Commerce forthe following reasons: (1) these figures include, and the statistics in the gross corporate product table exclude branchprofits remitted from foreigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude andthe gross corporate product figures include, the internal funds of corporations whose major activity is farming. '
Source: Board of Governors of the Federal Reserve System.
286
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TA3LE C-77.—Current assets and liabilities of U. $. corporations, 1939-70[Billions of dollars]
End of yearor quarter
1939
19401941 . . . .194219431944 . . .
19451946
19471948 . . .1949
1950195119521953. . - .1954
19551956195719581959
19601961
New series5
1961 . .196219631964
19651966196719681969
1968: L . . . .IIM L . . - - .IV
1969: 1IIIIIIV
1970: 1IIIII
Current assets
Total
54.560.372.933.693.897.297.4
108.1
123.6133.0133.1161.5179.1186.2190.6194.6224.0237.9244.7255.3277.3289.0306.8
304.6328.5351.7372.2410.2442.6470.4513.8555.9478.2488.7499.0513.8523.3534.5544.7555.9561.0566.3567.6
Cashon
handandin
banks*
10 813.113.917.621.621.621.722.8
25.025.326.528.130.030.831.133.434.634.834.937.436.337.241.1
40.743.746.547.349.949.354.158.054.952.053.254.658.054.655.453.954.952.952.553.7
U.S.Gov-ern-ment
securi-ties 2
2.22.04.0
10.116.420.921.115.3
14.114.816.819.720.719.921.519.223.519.118.618.822.820.120.0
19.219.620.218.617.015.412.714.212.715.013.613.114.216.013.512.412.712.510.79.3
Re-ceiv-ablesfromU.S.Gov-ern-
ment3
0.1.6
4.05.04.72.7
.7- .
384243
1.12.72.82.62.42.32.62.82.82.93.13.4
3.43.73.63.43.94.55.15.14.84.84.74.85.14.84.84.64.84.74.44.2
Notesandac-
countsreceiv-able
22.123.927.423.321.921.823.230.0
.3
.4
.055.758.864.665.971.286.695.199.4
106.9117.7126.1135.8
133.3144.2156.8169.9190.2205.2216.0237.1261.0218.0225.0230.9237.1241.3248.6256.3261.0264.5268.7270.0
In-ven-
tories
18.019.825.627.327.626.826.337.6
44.643.945.355.164.965.867.265.372.880.482.281.988.491.895.2
95.2100.7107.0113.5126.9143.1153.4165.8184.8156.1159.4163.2165.8170.4175.2180.0184.8188.0190.2191.8
Othercur-rentas-
sets*
1.41.5L41.31.31.42.41.7
1.61.61.41.72 12.42.43 14.25.96.77 59.1
10.611.4
12.914.717.819.622.325.129.033.637.832.232.832.433.636.136.937.437.838.539.938.5
Current liabilities
Total
30.032.840.747.351.551.745.851.9
61.564.460.779.892.696.198.999.7
121.0130.5133.1136.6153.1160.4171.2
155.8170.9188.2202.2229.6254.4271.4301.8342.7273.6280.9290.4301.8308.7318.9330.9342.7347.7352.7353.6
Ad-vances
andpre-pay-
ments,U.S.Gov-ern-
ment3
0.6.8
2.02.21.8.9.1
— ^373937
.41.32.32.22.42.32.42.31 71.71.81.8
1.82.02.52.73.14.45.86.47.36.16.26.36.46.97.27.57.37.27.06.8
Notesandac-
countsPay-able
21.922.625.624.024.125.024.831.5
- -.6.3.5
47.953.657.057.359.373.881.584.388.799.3
105.0112.8
110.0119.1130.4140.3160.4179.0190.6209.8238.1188.9195.3201.2209.8210.7220.1227.9238.1238.4244.1243.0
Fed-eralin-
cometax
liabili-ties
1.22.57.1
12.616.615.510.48.5
10.711.59.3
16.721.318.118.715 519.317.615.412 915.013.514.1
14.215.216.517.019.118.314.116.416.615.914.314.616.418.515.015.916.618.014.615.4
Othercur-rentlia-
bili-ties
6.97.17.28.78.79.49.7
11.8
13.213.514.014.916.518.720.722.525.729.031.133 337.040.142.5
29.834.538.742.246.952.860.869.180.662.765.068.269.172.776.579.680.684.287.188.3
Network-
ingcapi-tal
24.527.532.336.342.145.651.656.2
62.168.672.481.686.590.191.894 9
103.0107.4111.6118 7124.2128.6135.6
148.8155.6163.5170.0180.7188.2198.9212.0213.2204.7207.8208.6212.0214.6215.6213.8213.2213.3213.6214.0
» Includes time certificates of deposit.3 Includes Federal agency issues.3 Receivables from and payables to U.S. Government do not include amounts offset against each other on corporations'
books or amounts arising from subcontracting which are not directly due from or to the U.S. Government. Wherever possible,adjustments have been made to include U.S. Government advances offset against inventories on corporations' books.
4 Includes marketable investments (other than Government securities and time certificates of deposit) as well as sundrycurrent assets.
* Generally reflects definitions and classifications used in "Statistics of Income" for 1961.Note.—Data relate to all U.S. corporations, excluding banks, savings and loan associations, insurance com-
panies, and beginning with the new series for 1961, investment companies. Year-end data through 1967 are based on"Statistics of Income" (Treasury Department), covering virtually all corporations in the United States. "Statistics ofIncome" data may not be strictly comparable from year to year because of changes in the tax laws, basis for filing returns,and processing of data for compilation purposes. All other figures shown are estimates based on data compiled from manydifferent sources, including data on corporations registered with the Securities and Exchange Commission.
Source: Securities and Exchange Commission.
287
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TABLE C--78.—State and municipal and corporate securities offered, 1934-70
[Millions of dollars]
Year or quarter
1934
19351936193719381939
19401941194219431944
19451946.. . .194719481949
195019511952 . . .19531954
19551956195719581959
19601961196219631964
19651966196719681969 . .
1970 v
1968:1IIIIIIV
1969:1| |IIIIV
1970:1 .IIIIIIV v.
State andmunicipalsecurities
offeredfor cash
(principalamounts)
939
1,2321,121
9081,1081,128
1,238956524435661
7951,1572,3242,6902,907
3,5323,1894,4015,5586,969
5,9775,4466,9587,4497,681
7,2308,3608,558
10,10710, 544
11,14811,08914,28816,37411,460
17,740
3,6583 7714,5114,435
2,7383,4262,3762,920
4,0173,6564,2785,790
Totalcorpo-
rateoffer-ings
397
2,3324,5722,3102,1552,164
2,6772,6671,0621,1703,202
6,0116,9006,5777,0786,052
6,3617,7419,5348,8989,516
10,24010,93912,88411,5589,748
10,15413,16510, 70512,21113,957
15,99218,07424,79821,96626, 744
38,965
5,1785,7055,1335,950
6,2197,3546,3326,839
7,97710,4698,559
11,960
Corporate securities offered for cash
Type of corporate security
Com-monstock
19
222722852587
1081103456
163
397891779614736
8111,2121,3691,3261,213
2,1852,3012,5161,3342,027
1,6643,2941,3141,0112,679
1,5471,9391,9593,9467,714
7,275
740832986
1,389
1,7862,1411,6162,171
1,9381,8321,3032,200
Pre-ferredstock
6
862714068698
183167112124369
7581 127
762492425
631838564489816
635636411571531
409450422343412
725574885637682
1,390
24912417985
236128182135
200359356475
Bondsand
notes
371
2,2254,0291,6182,0441,980
2,3862,390
917990
2,669
4,8554,8825,0365,9734,890
4,9205,6917,6017,0837,488
7,4208,0029,9579,6537,190
8,0819,4208,969
10,85610, 865
13,72015, 56121,95417,38318,348
30, 300
4,1894 7493,9674,477
4 1975,0854,5344,533
5,8398,2786,9009,285
Manu-fac-
turing *
67
7971,3321 120
848604
992848539510
1,061
2 0263 7012,7422,2261,414
1,2003,1224,0392,2542,268
2,9943,6474 2343 5152,073
2,1524,0773 2493,5143,046
5,4177,070
11,0586 9796,356
10,620
1,9071,7031,6571,712
1,4071,7741,8621,314
2,5842,4452,3153,280
Industry of corporate user
Elec-tric,gasand
water 2
133
1,2842 040
7711 2341,271
1,2031,357
472477
1,422
2 3192 1583 2572,1872,320
2,6492,4552,6753,0293,713
2,4642,5293 9383 8043,258
2,8513,0322 8252,6772,760
2,9363 6654,9355,2816,736
10,985
1,4421,2441,1601,435
1,3451,8791,5441,967
2,0852,8132,7143,375
Trans-porta-tions
176
12679734455
186
32436648
161609
1 454711286755800
8134S4992595778
893724824824967
718694567957982
1,0131,9722,0671,8752,146
2,270
404470427574
808612371356
772336492670
Com-munica-
tion
902571
399612760882720
1,1321,4191 4621 424'717
1,0501,8341,3031,1052,189
9472,0031,9791 7662 188
5,140
422536490319
474432684598
7662,163
8681,340
Other
21
1254017418
103
15996
421
109
211329293
1,008946
1,3001 0581,0682,1382,037
2,7572,6192 4261 9912,733
3,3833,5272,7613,9574,980
5,6803,3644,7596,0649,318
" 9,945
1,0031,7531,3981,910
2,1872,6571,8712,604
1,7712,7112,1713,290
1 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial, and miscellaneous companyissues.
2 Prior to 1948, also includes telephone, street railway, and bus company issues.' Prior to 1948, includes railroad issues only.
Note.—Covers substantially all new issues of State, municipal, and corporate securities offered for cash sale in the UnitedStates in amounts over $100,000 and with terms to maturity of more than 1 year; excludes notes issued exclusivelyto commercial banks, intercorporate transactions, investment company issues, and issues to be sold over an ex-tended period, such as employee-purchase plans.
Sources: Securities and Exchange Commission, "The Commercial and Financial Chronicle," and "The Bond Buyer"
288
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C—79.—Common stock prices,
Year or month
19391940194119421943194419451946194719481949 . ._19501951195219531954.1955195619571958.195919601961 . .1962...196319641965 .1966 . . . . . . . .1967...1968...1969 . .1970 v . . .
1969: JanFebMarAprMayJuneJuly..AugSeptOctNovDec
1970: Jan . . .FebMar.. . .AprMay.. .JuneJulyAug... .SeptOct.NovDeep
earnings, and yields, and stock market credit, 1939-70
Standard & Poor's common stock data
Price index1
Total(500
stocks)
12.0611.029.828.67
11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.22
102 04101.4699.30
101 26104.6299.1494.7194.1894.5195.5296.2191.1190.3187.1688.6585.9576.0675.5975.7277.9282.5884.3784.2890.05
Indus-trials(425
stocks)
Publicutilities
(55stocks)
1941-43=10
11.7710.699.728.78
11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1993.4891.0899.18
107.49107.1391.29
110 97110.15108.20110 68114.53108. 59103 68103.39103.97105.07105.86100.4899.4095 7396.9594.0183.1682.9683.0085.4090.6692.8592.5898.72
16.3415.0510.937.74
11.3412.8116.8420.7618.0116.7717.8719.9620.5922.8624.0327.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969 9176.0868.2168.1066.4262.6454.48
68 6569.2466.0765 6366.9163.2961 3259 2057.8458.8059 4655.2855.7255 2459.0457 1951.1549.2250.9152.6254.4453.3754.8659.96
Rail-roads(20
stocks)
9.829.419.398.81
11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.0930.3132.8330.5637.5845.4646.7846.3446.7248.8445.9531.1354 1154 7850.4649 5349 9746.4343 0042 0442.0341.7540 6336.6937 6236 5837.3336 0531 1028.9426.5926.7429.1431.7330.8032.95
Divi-dend
yield 2(per-cent)
4.055.596.827 244.934.864.173.854.935.546.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173 013.003.403.203.073.243.833 063 103.173 113 023.183 343 373.333.333 313.523 563 683.603 704 204.174.204 073.823.743.723.46
Price/
ingsratio s
13.8010.258.278 80
12 8413.6616.3317.699.366.916.646.639.27
10.479.69
11.2511 5114.0512.8916.6417.0517.0921.0616.6817.6218.0817.0814.9217.5217.2016.57
17.68
16.59
15.42
16.58
17.31
13.33
15 77
Stock market credit
Customer credit (excludingU.S. Government
securities)
TotalNet
debitbal-
ances4
Bankloans
to"others"5
Bankloans tobrokers
anddealers 6
Millions of dollars
1,374976
1,032968
1,2491,7981,8261,9802,4453,4364,0303,9843,5764,5374,4614,4155,6025,4947,2427,0537,7707,444
10,34712,48810,010
11,79311,94911,09910 80711,24010,96010,2249,6929,6569,8169,632
10,0109 1178 9368,7188 3167 7277,567
942473517499821
1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,0795,5215,3297,8839,7907,445
9 0429,1488,3188 0448,4748,2147 5157,0197,0397,2437,1117,4456,6836 5626,3535 9855 4335,281(8)
/ 8 \
(8)(8)
353432503515469428561573648780
1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271 974
5 2,2492,1152,4642,698
7 2, 5652,3292,7512,8012,7812,7632,766
7 2,7462,7092,6732,6172,5732,5212,5652 4342 3742,3652 3312 2942,2862,2872 2962,3292,2702,3172,329
715584535850
1,3282,1372,7821,471
7841,3311,6081,7421,4192,0022,2482,6882,8522,2142,1902,5692,5842,6143,3984,3524,7544,631
«4,2774,5015,0825,796
7 5,1416,0914,7404,3343,6974 3644,051
7 4, 3794 4623,3883,5773,5864,1975,1413,4653 7824,1354 0673 7903,3683,5283 8563 6584,0634,0866,091
* Annual data are averages of monthly figures and monthly data are averages of daily figures.2 Aggregate cash dividends (based on latest known annual rate) divided by the aggregate monthly market value of the
stocks in the group. Annual yields are averages of monthly data.3 Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter. Annual ratios are
averages of quarterly data.* As reported by member firms of the New York Stock Exchange carrying margin accounts. Includes net debit balances
of all customers (other than general partners in the reporting firm and member firms of national exchanges) whose com-bined accounts net to a debit. Balances secured by U.S. Government obligations are excluded through 1967 and includedthereafter. Data are for end of period.
5 Loans by weekly reporting member banks (weekly reporting large commercial banks beginning 1965) to others thanbrokers and dealers for purchasing or carrying securities except U.S. Government obligations. Data are for last Wednesdayof period.
6 Loans by weekly reporting member banks (weekly reporting large commercial banks beginning 1965) for purchasingor carrying securities, including U.S. Government obligations. Data are for last Wednesday of period.
7 Revised series beginning June 1969; not strictly comparable with earlier data.8 Series discontinued beginning July 1970.
Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New York StockExchange.
289
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-80.—Business formation and business failures\ 1929—10
Year or month
1929 . . .1930193119321933s
193419351936193719381939 <194019411942194319441945 . . . .194619471948 . . . .19491950 . . .1951195219531954 .195519561957 . . .19581959 .19601961 . .196219631964196519661967 . . . .19681969 _1970
1969: Jan .FebMarAprMayJuneJulyAugSeptOctNovDec
1970: Jan . . . .FebMarAprp . . . .
JuneJulyAug. . _SeptOctNovDec
Indexof net
businessformation
(1967 = 100)
114 389.895.095.5
100 396 192 799.995 891 390.297.192 788 691.093 497 098.498 0
100 0109 4114.8
4 106. 7
Newbusinessincorpo-rations(num-
ber)
132,916112 89796,34685.64093,09283.77892 946
102 706117,411139,915141 163137,112150,781193,067182 713181,535182,057186 404197 724203, P97200 010206,569233 635274,267245, 234
Business failures l
Busi-ness
failurerate'
103.9121.6133.4154.1100.361.161.747.845.961.169.663.054.444.616.46.54.25.2
14.320.434.434.330.728 733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038 637.343.8
Seasonally adjusted
116.2116 8114.4114.9114 3114.8115 7115.3114.3114.4113.0113.6113.2113.0108 7107.7105.8104.7104.6103.8104.7103.4103.7
20, 57822 19921,35323,22023,18523, 52823,55422 96723,13824, 04623,30822,13722,07223,24921 09121 87622,40122,27622,26422,07823,12621,40923,392
32.035.638.036.436.939.834.936.039.939.540.938.233.739.440 143.742.143.446.847.450.045.950.844.5
Number of failures
Total
22,90926,35528,28531,82219.85912,09112,2449,6079,490
12,83614,76813,61911,8489,4053 2211,222
8091,1293,4745,2509,2469,1628,0587 6118,862
11,08610,96912,68613,73914,96414,05315,44517,07515,78214 37413, 50113,51413,06112,3649.6369,154
10,748
689731868823812792689702726815759748734817921992891912916910906941939869
Liability sizeclass
Under$100,000
22,16525,40827,23030,19718,88011.42111,6919,2859,203
12 55314,54113,40011,6859,2823 1551,176
7591,0033,1034,8538,7088,7467,6267,0818,075
10,22610,11311,61512,54713,49912,70713,65015,00613,77212 19211,34611,34010,83310,1447,8297,1928,019
545566722643661630537563573600570582555622704737662703650692614728729623
$100,000andover
744947
1,0551,625
979670553322287283111219163123664650
126371397538416432530787860856
1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201 8071,9622,729
144165146180151162152139153215189166179195217255229209266218292213210246
Amount of currentliabilities (millions
of dollars)
Total
483.3668.3736.3928 3457.5334.0310.6203.2183.3246 5182.5166.7136.1100.845 331.730.267.3
204.6234.6308.1248.3259.5283 3394.2462.6449.4562.7615.3728.3692.8938.6
1,090.11,213.61.352 61,329.21,321.71,385.71.265.2
941 01,142.11,887.8
75.090.084.1
118.892.691.9
112.762.873.7
116.4127.196.8
137.3139.4120.0131.9147.9170.5251.9169.6232.9144.8119.8121.7
Liability sizeclass
Under$100,000
261.5303.5354.2432.6215.5138.5135.5102.8101.9140.1132.9119.9100.780.330.214.511.415.763.793.9
161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3
18.217.723.419.721.619.017.818.617.919.218.719.417.621.624.625.022.624.021.922.520.423.824.421.0
$100,000andover
221 8364.8382.2495 7242.0195.4175.1100 481.4
106 449.746.835.420.515 117.118.851.6
140.9140.7146.797.1
128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1
1,031.61,015.61,000.01,064.1
967.3699 9910.8
1,618.4
56.972.360.799.171.072.995.044.255.897.2
108.477.4
119.6117.895.4
106.9125.3146.5230.0147.1212.6121.095.5
100.7
» Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933, of real estate,insurance, holding, and financial companies, steamship lines, travel agencies, etc.
* Failure rate per 10,000 listed enterprises.> Series revised; not strictly comparable with earlier data.4 Eleven-month average of data shown.Sources: Department of Commerce (Bureau of the Census) and Dun & Bradstreet, Inc.
29O
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURE
Year orquarter
1929
1930193119321933 .193419351936193719381939
19401941194219431944194519461947..19481949
1950 . . . .195119521953 .1954 . . . .19551956195719581959
196019611 9 6 2 . . . . . . . : : - .1963 . . . _196419651966 .19671968 . .1969
1970*
1969: 1| |MlIV
1970: 1I I . . . .HiIV v
TABLE G-81.—Income of farm people and farmers,
Personal incomereceived by totalfarm population
Fromall
sources
5.47.77.29.07.27.47.6
10.114.116.516.617.220 021.123.819.520.422.722 119.818.417.617.817.719.518.1
18.719.720.420.620 623.624.924.025.427.527.9
Fromfarm
sources i
Fromnon-farm
sources2
3.25.44.66 24.74.84.86.8
10 112.112.212.815 515.818.013.314.116.215 413 412.511.411.211.012.811.011.512.212.312.111 313.514.413 113.514.714.6
2 22.32.62 72.52.62.83.33 94.44.44.44 65 35.86.26.36.56 76 45.96.26.66.66.77.07.27 58.28.59 3
10.010.510 911.812.813.3
Realized gross
Totals
Cashreceipts
frommarket-
ings
Billions of dollars
13.911.58.46.47 l8 69.7
10.811 410.110.611.113.918 823.424.425.829 534 134.731.632.337.136 835 033.633.134.334.037.937.5
38.139 841.342.342 644.949.749 051.054.656.2
11.39 16.44.75 36 47.18.48 97.77.98.4
11.115 619.620.521.724 829 630.227.828.532.932 531 029.829.530.429.733.533.5
34.235 136.437 437 239.343.342 744.247.248.7
1929-70
Income received from far
Produc-tion ex-penses
7.76.95.54.54 44.75.15.66 25.96.36.97.8
10 011.612.313.114 517.018.818.019.422.322 621 321.621.922.423.325.226. 126.427 128.629.729 530.933.434 836.038.440.4
Net to farmoperators
Exclud-ing netinven-tory
change
6.34.52.91.92 73 94.65.15 24.24.34.26.18 8
11.812.112.815 017 115.913.612.914.814 113 712.011.211.910.712.711.4
11.712 612.612.613 114.016.314 215.016.215.8
Seasonally adjusted annual rates
53.754.654.855.256.356.256.555.8
46.547 447.447.649.049.048.848.0
37.538.638.639.039.840.140.840.9
16.216.016.216.216.516.115.714.9
Includ-ing netinven-tory
change4
6.24.33.32.02 62 95.34.36 04.44.44.56.59 9
11.7" 11.7
12.315 115.417.712.813.716.015 113 112.511.511.411.313.511.512.113 013.213 212 315.016.314 915 116.516.3
16.316 316.716.817.116.616.215.4
ning
Net income perfarm, includingnet inventory
cha
Currentprices
nge
1967pricess
Dollars
945651506304379431775639905668685706
1,0311,5881,9271,9502,0632,5432,6153,0442,2332,4212,9462,8962,6262,6062,4632,5352,5903,1892,795
3,0493 3993,5863,7083 5644,4875,0194 7304,9575,5635,563
1,9691,4471,297
9211 1151,1341,9871,6382,2621,7581,8511,8582,5783 4523,7063,6113,6194 0373,5343,9032,9773,1863,5493 4483 1263,1022,9322,9822,9433,5833,1403,3883 7773,9414 0303 8324,7235,1214 7304,7665,1044,880
5,4905,4905,6205,6505,8505,6805,5405,270
5,1305,0405,1605,0905,2205,0304,8604,580
*Net income to farm operators including net inventory change, less net income of nonresident operators, plus wagesand salaries and other labor income of farm resident workers, less contributions of farm resident operators and workersto social insurance.
2 Consists of income received by farm residents from nonfarm sources, such as wages and salaries from nonfarm em-ployment, nonfarm business and professional income, rents from nonfarm real estate, dividends, interest, royalties,unemployment compensation, and social security payments.
s Cash receipts from marketings, Government payments, and nonmoney income furnished by farms (excluding netinventory change).
4 Includes net value of physical change in inventory of crops and livestock valued at the average price of the year.* Income in current prices divided by the index of prices paid by farmers for family living items on a 1967 base.
Source: Department of Agriculture.
29I
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-82.—Farm production indexes, 1929-70
11967=1001
Year
1929...
1930...1931...1932...1933...1934...
1935...1936...1937...1938...1939...
1940...1941...1942...1943...1944.;.
1945...1946...1947 ..1948...1949...
1950...1951...1952...1953...1954...
1955...1956...1957...1958...1959...
1960...1961...1961...1963...1964...
1965...1966 ..1967...1968...1969...
1970 P..
Farmout-put i
53
5256545043
5247585758
5962696870
6971697574
7375787979
8182818687
9091929594
9796100102104
103
Crops
Total J
62
5966625646
6050696564
6768767175
7376738379
7678818079
8281798988
9291919592
9895100103104
101
Feedgrains
50
4551594527
4831545252
5357656063
6066517365
6560646265
6969758185
8880818777
90891009599
90
Hayand
forage
69
5763646056
7157657065
7575817978
8176737372
7780788080
8582888984
9089929293
9796100100103
101
Foodgrains
50
5559473533
4140555747
5159615365
6870827968
6463817465
6164619072
8579737684
878710010596
91
Vege-tables
65
6667686571
7267737272
7475798782
8494818784
8679808583
8691889189
9196959590
9697100103100
100
Fruitsandnuts
67
6582676863
8062837586
8388877587
7995908287
8889878888
8892849193
8891928990
959610093117
111
Cot-ton
200
188230175175130
143168257162160
170147175155167
123118162203218
137207207223185
200180148155197
193193202208207
202130100148135
138
To-bacco
77
8378517055
6760807096
7464717199
100118107101100
103118114104114
111111848891
98104118118113
94961008791
96
Oilcrops
8
88868
129111317
2022333529
3231323936
4238373742
4654546558
6171727575
9096100113116
118
Livestock and products
Total'
54
5556565752
5054535660
6164727874
7471706873
7579797982
• 8585838589
8791929597
9597100100101
104
Meatani-mals
52
5255565849
4450485259
6063728173
7068676669
7479797882
8683808288
8689919597
9297100102102
107
Dairyprod-ucts
76
7779808079
7980808283
8590939293
9695949194
9493939899
10010210210,1100
102104105104106
1041011009999
99
Poul-tsandeggs
32
3332323230
3032323335
3639455151
5450494954
5759596163
62686973757581818386
90%10098101
107
i Farm output measures the annual volume of farm production available for eventual human use through sales fromfarms or consumption in farm households. Total excludes production of seeds and of feed for horses and mules.
a Includes production of seeds and of feed for horses and mules and certain items not shown separately.• Includes certain items not shown separately.
Source: Department of Agriculture.
292
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-83.—Farm population, employment, and productivity, 1929-70
Year
1929.
1930.1931.1932.1933.1934.
1935.1936.1937.1938.1939.
1940.1941.1942.1943.1944.
1945.1946.1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
1965.1966.1967.1968.1969
1970
Farm population(April l ) i
Num-ber
(thou-sands)
30,580
30, 52930,84531,38832,39332,305
32,18131,73731,26630,98030,840
30,54730,11828,91426,18624,815
24,42025,40325,82924,38324,194
23,04821,89021,74819,87419,019
19,07818,71217,65617,12816,592
15,63514,80314,31313,36712,954
12,36311,59510.87510,45410,307
9,700
As per-cent oftotalpopu-lation^
25.1
24.824.825.125.825.5
25.324.824.223.823.5
23.122.621.419.217.9
17.518.017.916.616.2
15.214.213.912.511.7
11.511.110.39.89.4
8.78.17.77.16.7
6.45.95.55.25.1
4.7
Farm employment(thousands)1
Total
12,763
12,49712,74512,81612,73912,627
12,73312,33111,97811,62211,338
10,97910,66910, 50410,44610,219
10,00010.29510,38210,3639,964
9,9269,5469,1498,8648,651
Familyworkers
4,486
9,360
9,3079,6429,9229,8749,765
9,8559,3509,0548,8158,611
8,3008,0177,9498,0107,988
7,8818,1068,1158,0267,712
7,5977,3107,0056,7756,570
8,3817,8537,6007,5037,342
7,0576,9196,7006,5186,110
5,6105,2144,9034,7494,590
6,3455,9005,6605,5215,390
5,1725,0294,8734,7384,506
4,1283,8543,6503,5363,416
3,319
Hiredworkers
3,403
3,1903,1032,8942,8652,862
2,8782,9812,9242,8072,727
2,6792,6522,5552,4362,231
2,1192,1892,2672,3372,252
2,3292,2362,1442,0892,081
2,0361,9531,9401,9821,952
1,8851,8901,8271,7801,604
1,4821,3601,2531,2131,174
1,167
Farm output
Perunit oftotalinput
Per man-hour
Total CropsLive-stockand
products
Cropproduc-
tionper
acre*
Index, 1967=100
59
5864646054
6457676967
6670757375
7678768280
7879838484
8688899593
97989910099
10298100100101
99
17
1717171615
1817192020
2122242425
2729293233
3536394143
4650535961
6771748083
9194100106110
112
17
1718181716
1917202121
2324262627
2931313536
3938424345
4851566565
7173768284
9295100106107
107
26
2626252523
2425252627
2728303231
3232333436
3739404143
4749515559
626771'7783
8793100105112
118
57
5259565042
5446626061
6263706468
6770677570
6970747372
7575768684
8992949794
10098100103107
103
* Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian populationliving on farms, regardless of occupation.
* Total population of United States as of July 1 including Armed Forces overseas.* includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, Statistical
Reporting Service, differ from those on agricultural employment by the Department of Labor (see Table C-22) because ofdifferences in the method of approach, in concepts of employment, and in time of month for which the data are collected.See monthly report on "Farm Labor."
« Computed from variable weights for individual crops produced each year.
Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
293
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-84.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929—70
[1967 = 1001
Year or month
1929
1930..1931193219331934. . .1935193619371938 . . . .1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 ... .1966196719681969
1970
1969: Jan 15Feb 15Mar 15Apr 15May 15June 15
July 15Augl5Sept 15Oct 15Nov 15Dec 15
1970: Jan 15Feb 15Mar 15Apr 15May 15June 15
July 15Augl5Sept 15Oct 15Nov 15Dec 15
Prices received by farmers
Allfarmprod-
58
4934to
co inCM
CM
C*!
4345483837
3949637678819310911398
102119113100979191929895
949496969398105100103108
no104105106106109111
111109108109111112
113114114111111111
113109111108106104
Crops
Allcrops »
65
55382931404850544342
445570858792104122127111
103117118106107102104999998
9910010310610610310510010197
100
969810099100100
989693959895
96989897103103
104100104101102100
Foodgrains
66
53322537515561684241
475568849497114153141123
126137138132131129126127117114
115118128126107931041009187
92
888888888985
808286898990
899089919086
859196989996
Feed grainsand hay
Total
68
61432833556159724141
495366879996116147148102
111130134118117105105968890
87878995961001041009196
101
939594969999
989695959394
979796969899
100101109107106110
Feedgrains
71
63412533566463784241
4954679010197122158157101
114136139122120107107979091
87878994951001041009094
101
919392949999
989595949193
949594949799
101102110108106110
Cot-ton
79
54342636535152493739
435882879094125143142129
148176162140144142140138132140
13313714214213712811310010091
96
868791928994
969186969488
849092949899
100100971019893
To-bacco
31
25181519283129363127
24284557636568676872
73797878807981848791
90959689889299100102107
109
104105105105105105
107109111110108109
108109109109109109
109110110106109110
Oil-bear-ing
crops
52
40261621374643473435
3750667380839413212788
10012310710111090938882797793909493961061009691
96
939494959695
959085858788
909191939396
999799103104103
Livestock and products
Alllive-stockandprod-ucts1
57
48352625294143454039
3950627171768710411498
10112111097908482889993
919192898594105100104117
118
109109112112116119
120119119119121124
125126125121117117
119115116113110108
Meat
mals
46
40271918203435393433
324355605762749810793
101122105868473708210093
888992868095106100103119
120
104108112115125129
126125122120118122
125130132128124125
126120116113105102
Dairy
ucts
54
4636ooooc
CM
CM
C
3741433836
39465365737588899882
819499878081co
m co
OO
OO
00
84
85858383848596100104108
112
109108106104102101
104106112115116116
115112110109108106
108111114117120119
Poul-
andeggs
122
97746156678887848373
7492115145134150152169183167
141172156167135145133122129108
121111110111108110122100108123
115
127119121114104107
123118125123141152
149137129111101100
112104116103110112
See footnotes at end of table.
294
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TABLE C-84.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-70—Con .[1967=100]
Year or month
19291930 .19311932193319341935 ._193619371938 .1939194019411942 ..1943194419451946 ..1947194819491950 .19511952195319541955195619571958 .1959 ....196019611962196319641965196619671968196919701969: Jan 15...
Febl5...Mar 15...Apr 15...May 15.-June 15_.July 15...Augl5...Sept 15 .Oct15___Novl5...Dec 15...
1970: Jan 15...Febl5...Mar 15...Apr 15..May 15 .June 15..July 15..Augl5__Sept 15..Oct 15 .Novl5__Dec 15..
Allitems,in-
terest,taxes,andwagerates(parityindex)
4744383332353636383636363944505356617076737582848181818184868788889091929498100104109114106107108109110110109109110110111111112113113113113114114114115115115116
'rices paid by farmers
Commodities and services
Allitems
5046393434394141434040404349555859657683798190908687868688909191929294939698100103107111104105106107108108108107108108108109109110110111111111111111112113113113
Fam-ily
livingitems
4845393334383939403837384046525457637478757683848484848588898990909192939598100104109114106107108108109109109109110110111111112112112113113114114114115115115116
Production items
Allproduc-tion
items *
5147393434404343464342434552576081677887838695958989878790929392939495949699100102106109103104105106107107106106106106107107108109108109109109109109110111111111
Feed
645841303449505158444447516274828194111118979911111810710710097959394929394989798102100959710296969697989797979796969810010110099100100100101105105105107
Motorve-
hicles
3029292828303032333533333537394244455258646469727171727479838584848790919396100105109114
109
109110
110
111111
113
113113
114
118118
Farmma-chin-ery
3333323130313232333434333435373838394552586065676768687174778182848688909296100105110117
108
111
112
113
114
117"
119
"119
Fer-til-izer
85827565616968646767666464717677787988959894991021031031019910010099100100100999910099100979396969696939393939393939393939393969696969698989898
Inter-est 2
4543413934312826242322212i20181716151616171921232426283235384246515663718090100110119129119119119119119119119119119119119119129129129129129129129129129129129129
Taxess
3132312925212020202121212121212122242731343638394143454952566065707477808592100111122131122122122122122122122122122122122122131131131131131131131131131131131131
Waperates «
2221161210121313151515151823313842464952515055596160616366687274767880828693100108119128114114114121121121119119119123123123124124124129129129127127127131131131
Parityralio •
928367586475889?9378778193105113108109113115110100101 (107 (100 (928984838285818079807876778074737472727373727475757473737575757575727372747172706867
(fifi)[80)
(97)(83)(85)(88)(98109116110111115116)111)100)102)108)101)(93)89)85)84)85'8882)(82)(83)(83)(81)(80)(8?)(86(79(79)(80)(77)(78)(78)(79)(78)(80)(81)(81)(80)(79)(79)(81)(81)81)81)81)78)78)(77)(79)(76(77(75(73(72
1 Includes items not shown separately.J Interest payable per acre on farm real estate debt.3 Farm real estate taxes payable per acre (levied in preceding year).* Monthly data are seasonally adjusted.4 Percentage ratio of prices received for all farm products to parity index, on a 1910-14=100 base. The adjusted parity
ratio (shown in parentheses in the table) reflects Government payments made directly to farmers.Source: Department of Agriculture.
295
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Year
1929
19301931193219331934
193519361937. .19381939
1940 ..1941194219431944 ....
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
1970 *____
TABLE
Cropslarvested(millions
ofacres)l
365
369365371340304
345323347349331
341344348357362
354352355356360
345344349348346
340324324324324
324303295300301
298295308303294
297
G-85.—Selected measures of farm resources and inputs, 1929-70
Man-hoursof
farmwork(bil-lions)
23.2
22.923.422.622.620.2
21.120.422.120.620.7
20.520.020.620.320.2
18.818.117.216.816.2
15.115.214.514.013.3
12.812.011.110.510.3
9.89.49.08.78.2
7.87.47.37.06.9
6.7
Total
90
8988858379
8182868386
8989929393
9191919293
9395949494
9493919194
9393939595
9598100102103
104
Index numbers of inputs (1967=100)
Farmlabor
319
315322311310278
290281304283284
282276283279277
259249237232223
208209200192183
176165152145142
135129124119113
1071021009694
92
Farmreal
estate >
85
8482808180
8182838485
8585848281
8184858888
9091929293
9392939393
9494959698
98991009999
98
Me-chani-cal
powerandma-
chinery
34
3634312929
2931343636
3839434546
4852576471
7782868788
8888898890
9390899391
9498100102103
104
Ferti-lizerand
limingmaterials
10
108567
810121112
1415171921
2226282830
3336394143
4445464854
5558626976
8090100105107
114
Feed,seed, and
live-stockpur-
chases 3
19
1917171717
1622212227
3233414546
5250535250
5258585859
6265677376
7880848891
9198100103106
111
Miscel-laneous
60
6061626054
5254545557
5758596060
6061615865
6769697272
7477757983
8386899294
9497100102106
106
1 Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.2 Includes service buildings and improvements on land.3 Nonfarm portion of feed, seed, and livestock purchases.
Source: Department of Agriculture.
296
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—86.—Comparative balance sheet of the farming sector, 1929-71
[Billions of dollars]
Beginning ofyear
1929
19301931193219331934
193519361937.19381939
19401941194219431944
19451946194719481949.
1950 .1951195219531954 . . .
19551956195719581959
I960.1961196219631964
196519661967.19681969
1970
Total
68.5
52.955.062.973.784.6
94.2103.5116.4127.9134.9
132.5151.5167.0164.3161.2
165.1169.6178.0185.8202.2
203.12G4.0212.9221.0229.8
238.5256.0269.9284.0299.1
311.4
Realestate
48.0
47 943 737.230.832 2
33.334.335.235.234 1
33.634.437 541.648.2
53 961 068.573.776.6
75.386.695 196 595.0
98 2102.9110.4115.9124.4
130.2131.7138.0143.8152.1
160.9172 5182.5193.1202.6
208.9
Asset
Other physical assets
Live-stock i
6.6
6.54.93.63.03.2
3.55.25.15.05.1
5.15.37.19.69.7
9.09.7
11.913.314.4
12.917.119.514.811.7
11.210.611.013.917.7
15.215.616.417.315.8
14.517.518.918.820.2
23.5
Ma-chin-eryand
motorvehi-cles
3.2
3 43.33.02.52 2
2.22.42.63.03 2
3.13.34 04.95.4
6 55 45.37.4
10.1
12.214.116 717.418.4
18 619.320.320.221.8
22.221.822.322.724.1
25.527.128.931.433.1
34.3
Crops2
2.5
2.73.03.85.16.1
6.76.37.19.08.6
7.67.98 89.09.2
9.68.38.37.69.3
7.78.08.89.39.8
9.29.7
10.09.6
10.6
10.8
80.4
House-hold
equip-mentand
urnish-ings
4 0
4.24.24 95.05.3
5 66 17.78.59.1
8.69.7
10 39.99.9
10 010.510.09.99.8
9.68.99.19.08.9
8.68.68.49.09.6
10.1
Financial assets
De-positsandcur-rency
3 6
3.23.54.25.46.6
7.99.4
10.29.99.6
9.19.19 49.49.4
9.49.59.49.5
10.0
9.28.78.89.29.2
9.610.010.310.911.5
11.9
U.S.savingsbonds
0.2.4.5
1.12.2
3.44.24.24.44.6
4.74.74.74.64.7
5.05.25.15.15.2
4.74.64.54.44.2
4.24.13.93.83.7
3.7
Invest-mentin co-opera-tives
0.6
.8
.99
1.01.1
1 21 41.51.71.9
2.12.32 52.72.9
3.13.33.53.74.0
4.34.75.05.35.7
6.06.57.07.47.8
8.2
24.4
Claims
Total
68.5
52.955.062. S73.784.6
94.2103.5116.4127.9134.9
132.5151.5167.0164.3161.2
165.1169.6178.0185.8202.2
203.1204.0212.9221.0229.8
238.5256.0269.9284.0299.1
311.4
Realestatedebt
9.8
9.69.49.18.57 7
7.67.47.27 06 8
6.66.56.46.05.4
4.94.84.95.15.3
5.66.16.77.27.7
8.29.09.8
10.411.1
12.112.813.915.216.8
18.921.223.325.527.1
28.4
Otherdebt
5.0
3.43.94.14.03.5
3.43.23.64.26.1
6.87.08.08.99.2
9.49.89.6
10.012.5
12.713.414.816.518.1
18.620.422.424.927.5
29.7
Pro-prie-tors'equi-ties
53.9
42.944.652 463.775.7
85 995.5
107.9118.6123.5
120.1138.4152.3148.2144.3
147.5150.8158.6165.4178.6
178.3177.8184.2189.3194.9
201.0214.4224.2233.6244.5
253.3
i Beginning with 1961, horses and mules are excluded.s Includes all crops held on farms and crops held off farms by farmers as security for Commodity Credit Corporation
loans. The latter on January 1, 1971, totaled approximately $676 million.
Source: Department of Agriculture.
297
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICSTABLE G-87.— U.S. balance of payments, 1946-70
[Millions of dollars]
Year orquarter
1946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
1970s
1968: 1IIIII . .I V . . . .
1969: 1I I . . . .I I I . . .IV . . . .
1970: 1IIIII*...
Exports of goods and services
Total
14,79219,81916,86115,834
13, 89318,86418,12217,07817,889
19,94823,77226,65323,21723,652
27,48828,77030, 50632,60137,271
39,39943,36046,20350,62255,514
62,907
Mer-chan-dise i
11,76416,09713,26512,213
10,20314,24313,44912,41212,929
14,42417,55619,56216,41416,458
19,65020,10720, 77922,25225,478
26,44729,38930,68133,58836,473
42,148
Mili-tary
sales
<2)(2)<2)(2)
8%182
200161375300302
335402656657747
830829
1,2401,3951,515
1,375
Income oninvestments
Pri-vate
7511,0361,2381,297
1,4841,6841,6241,6581,955
2,1702,4682,6122,5382,694
3,0003,5613,9484,1514,930
5,3845,6596,2356,9227,906
8,656
Gov-ern-ment
2166
10298
109198204252272
274194205307349
348381471498456
509593638765932
955
Otherserv-ices
2,2562,6202,2562,226
2,0972,7392,8452,5642,551
2,8803,3933,8993,6583,849
4,1554,3184,6515,0435,659
6,2306,8917,4097,9528,688
9,773
Imports of goods and services
Total
- 6 , 9 8 5- 8 , 2 0 2
- 1 0 , 3 4 3- 9 , 6 1 6
- 1 2 , 001- 1 5 , 0 4 7- 1 5 , 7 6 6—16, 546—15,930
—17,795—19,627- 2 0 , 7 5 2-20 ,861- 2 3 , 3 4 2
- 2 3 , 3 5 5- 2 3 , 1 4 8- 2 5 , 3 5 7- 2 6 , 6 1 7-28 ,691
- 3 2 , 2 7 8- 3 8 , 060-40 ,990-48 ,129- 5 3 , 564
-58 ,964
Mer-chan-dise i
- 5 , 0 6 7- 5 , 9 7 3—7,557—6, 874
- 9 , 0 8 1—11,176—10,838- 1 0 , 9 7 5- 1 0 , 3 5 3
—11,527- 1 2 , 803-13 ,291- 1 2 , 9 5 2- 1 5 , 3 1 0
- 1 4 , 7 4 4- 1 4 , 519- 1 6 , 2 1 8-17 ,011—18,647
- 2 1 , 4 9 6-25 ,463-26,821-32 ,964-35 ,835
-39 ,409
Mili-taryex-
pend-itures
—493- 4 5 5—799- 6 2 1
- 5 7 6—1,270- 2 , 0 5 4- 2 , 6 1 5- 2 , 6 4 2
—2,901- 2 , 9 4 9- 3 , 2 1 6- 3 , 4 3 5- 3 , 1 0 7
- 3 , 0 8 7- 2 , 9 9 8- 3 , 1 0 5- 2 , 9 6 1- 2 , 8 8 0
- 2 , 9 5 2- 3 , 7 6 4- 4 , 3 7 8- 4 , 5 3 5- 4 , 8 5 0
- 4 , 863
Otherserv-ices
- 1 , 4 2 5- 1 , 7 7 4- 1 , 9 8 7- 2 , 1 2 1
—2,344—2,601—2,874- 2 , 9 5 6—2,935
- 3 , 3 6 7- 3 , 875- 4 , 2 4 5—4,474- 4 , 9 2 5
- 5 , 523- 5 , 6 3 1- 6 , 035- 6 , 6 4 7- 7 , 1 6 4
—7, 831- 8 , 8 3 3- 9 , 7 9 1
-10 ,630-12 ,879
-14 ,692
Bal-anceon
goodsand
serv-ices
7,80711,6176,5186,218
1,8923,8172,356
5321,959
2,1534,1455,9012,356
310
4,1335,6225,1495,9848,580
7,1215,3005,2132,4931,949
3,943
Remit-tances
andpen-sions
- 6 4 8- 7 2 8—631—641
- 5 3 3—480- 5 7 1- 6 4 4- 6 3 3
- 5 9 7—690- 7 2 9—745—815
- 5 9 6- 6 3 2—695- 7 9 8- 8 0 9
—950- 8 9 8
- 1 , 1 6 7- 1 , 1 2 1- 1 , 1 9 0
- 1 , 3 9 7
Seasonally adjusted annual rates
47,728b0,74053,18050,856
47,79257,16458,26058, 848
61,36863,65663,696
31,78433, 54435,51233,512
29,88838,34038,32439,340
40,91242,82042,712
1,2081,3761,5721,428
1,5641,2521,8321,408
1,0321,7281,364
6,2367,1367,1607,164
7,4447,6768,1728,332
9,0208,2328.716
824824840576
912924972924
976976912
7,6767,8608,0968,176
7,9848,9728,9608,844
9,4289,9009,992
-45 ,908-47 ,328-49 ,776-49 ,496
-46 ,472-55 ,912-55 ,636-56 ,244
-58 ,040-59 ,240-59 ,612
-31 ,280-32 ,528-34 ,276-33 ,772
- 3 0 , 3 0 4-38 ,424-37 ,052-37 ,560
-38 ,892- 3 9 , 504-39 ,832
- 4 , 4 1 2- 4 , 4 4 8- 4 , 588- 4 , 6 9 2
- 4 , 7 9 2- 4 , 7 4 8- 4 , 880- 4 , 9 8 0
- 4 , 7 1 2- 5 , 020- 4 , 8 5 6
-10 ,216-10 ,352-10 ,912-11 ,032
-11 ,376-12 ,740-13 ,704-13 ,704
-14 ,436-14,716-14 ,924
1,8203,4123,4041,360
1,3201,2522,6242,604
3,3284,4164,084
- 1 , 0 6 8- 1 , 0 2 8- 1 , 2 8 8- 1 , 1 0 4
- 1 , 0 8 0- 1 , 1 7 6- 1 , 2 7 2- 1 , 2 3 6
- 1 , 3 1 2- 1 , 4 4 0- 1 , 4 4 0
See footnotes at end of table.
298
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-87.—(7. S. balance of payments, 1946-70—Continued
[Millions of dollars]
Year orquarter
1946...1947...1948..1949..
1950..1951...1952...1953...1954...
1955...1956...1957...1958...1959...
1960...1961...1962..1963...1964...
1965...1966..1967..1968..1969..1970 3.
1968: I. „II...III..IV...
1969: L . . .II. . .III..IV...
1970: L . . .II .III*.
U.S.Gov-ern-ment
grantsand
capi-tal,
net*
-5,293-6,121-4,918-5,649
-3,640-3,191-2,380-2,055-1,554
-2,211-2,362-2,574-2,587•1,986
-2,768•2,779-3,013-3,578-3,564
-3,406-3,444-4,223-3,975-3,828-3,119
U.S. private capital,net
Directinvest-ment
-230-749-721-660
-621-508-852-735-667
-823-1,951-2,442-1,181-1,372
-1,674-1,598-1,654-1,976-2,328
-3,468-3,661-3,137-3,209-3,070-4, 805
Otherlong-term
127- 4 9- 6 9- 8 0
-495-437-214
185-320
-241-603-859
-1,444-926
-855-1,025-1,227-1,698-2,103
-1,079-256
-1,292-1,116-1,588-1,427
Short-term
-310-189-116
187
-149-103- 9 4167
-635
-191-517-276-311- 7 7
-1,349-1,556
-546-785
-2,147
753-415
-1,209-1,087
-575-297
For-eigncapi-tal,net*
-615-432-361
44
18154052146249
297615545186736
364702
1,026690689
2702,5313,3608,7014,1313,859
Errorsand
unre-cordedtrans-actions
155861
1,115717
-12435449722060
371390
1,012361260
-1 ,156-1,103-1,246
-509-1,118
-576-514
-1,088-514
-2,841-2,04011
Balance
Li-quiditybasis ^
-3,489
-1,206-2,184-1,541
-1,242-973
578-3,365-3,870
-3,901-2 ,371-2 ,204-2 ,670-2 ,800
-1 ,335-1,357- 3 , 544
171-7 ,012
n-4,415
Offi-cial
reservetrans-actionsbasiss
-3 ,403-1 ,347-2 ,702-2,011-1 ,564
-1 ,289266
-3,4181,6412,700
ii-8,667
Seasonally adjusted annual rates
-4,340-4,240-3,852-3,468
-3,108-4,636-4,088-3,480
-3,420-2,900-3, 036
-1,804-3,512-4,192-3,324
- 3 , 1 _- 4 , 060- 3 , 508-1,104
-5,644-5,736- 3 , 036
-520-616-876
-2,456
-1,072-2,352-1,796-1,132
-1,936460
-2, 804
-412-1,588-1,272-1,076
-172-2,192
1,384-1,320
828-2,204
484
6,67210,1247,308
10,696
7,0961,6521,2446,540
2,2545,2804,044
-1,316-2,112
1,34032
-4,784-3,688-3,708
816
-728-3,680- 1 , " "- 1 , 7 1 2 "
-976424580656
-5,408-15,204-9,116
1,680
n-5,756"-4,936
-2,552
-2446,6081,632
-1 ,432
5,8125,260
-2 ,3282,056
n-11,572ii-7,108ii-7,320
Changes in selected lia-bilities (decrease ( - ) ) *
To foreignofficial holders8
Liquid
ioif4481068Iit>4571,6731,075
- 1 8-1 ,595
2,020-3,101
-517
Non-liquid
250- 3 9318
85761
1,3462,340-996
Toother
foreignhold-ers'
3081,084214620
1,554
1312,3841,4723,8108,716
Changesin U.S.officialreserveassets
(increase( ) )
-6233,315
- 1 7 3 6-266
1,758- 3 3
-4151,256
480
182-869
-1 ,1652,2921,035
2,145606
1,533377171
1,222568
52-880
-1,187
Quarterly totals unadjusted
1,3582,190-38485
1,708-5382,235-506
2,762526
2,046
363777537663
45-367-509-165
-413513
-236
7212,2221,031-164
3,0244,6531,423-384
-1,695-122
-1,186
904-137-571
-1 ,076
- 4 8-299-686-154
-3861,022
801
» Adjusted from customs data for differences in timing and coverage.* Not reported separately.I Average of the first 3 quarters on a seasonally adjusted annual rates basis.* Includes certain special Government transactions.» Equals changes in liquid liabilities to foreign official holders, changes in liabilities to other foreign holders, and changes
in official reserve assets consisting of gold, Special Drawing Rights, convertible currencies, and the U.S. gold trancheposition in the IMF.
* Equals changes in liquid and nonliquid liabilities to foreign official holders and changes in official reserve assets con-sisting of gold, Special Drawing Rights, convertible currencies, and the U.S. gold tranche position in the IMF.
7 Includes short-term official and banking liabilities, foreign holdings of U.S. Government bonds and notes, and certainnonliquid liabilities to foreign official holders.
s Central banks, governments, and U.S. liabilities to the IMF arising from reversible gold sales to, and gold deposits with,the United States.
* Private holders; includes banks and international and regional organizations; excludes IMF.io Includes change in Treasury liabilities to certain foreign military agencies; excluding these changes, data ($ millions)
are 1,258 (1960), 741 (1961), 918 (1962).I I Includes allocation of Special Drawing Rights.
Note.—Data exclude military grant-aid and U.S. subscriptions to International Monetary Fund.
Source: Department of Commerce, Office of Business Economics.
299
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-88.—U.S. merchandise exports and imports; by commodity groups, 1958-70
[Millions of dollars]
Year or quarter
19531959 .
19601961196219631964
196519661967. .19681969
1970
1968: 1IIII!IV. . . .
1969* 1IIIIIIV
1970: 1IIIIII V . . . . .
Merchandise exports *
Total, includ-ing reexports 2
Sea-sonally
ad-justed
8,0288 4659,0198,581
7,6049,8609,8629,966
10, 30010,91510,81910,687
Unad-justed
16,37516,426
19,65920,22620,98622,46725,832
26,75129,49031,03034 06337,332
42,662
8,0228,7048,4258,911
7,58510,1519,257
10,333
10,19511,22110,15011, 096
Domestic exports
Total 2«
16,21116,243
19,45919,98220,71722,18225,479
26,40829,05430,64633 62636,788
42, 028
7,9228,5968,3178,792
7,46810,0109,118
10,192
10,06111,0579,987
10,923
Food,bever-ages,
and to-bacco
2,6382,852
3,lfi73,4663,7434,1884,637
4,5205,1864,7104 5924,446
5,051
1.195090
,122,185
699,757, 148
1,342
117144757
1,532
Crudemate-rialsand
fuels «
3,0522,996
3,9423,8843,3563,7754,337
4,2754,4044,7264,8655,006
5,696
1,1*01,2171,1741,293
8771,3881,2341,507
1,4891,7281,6081,870
Man-ufac-tured
goods5
11,54711,179
12,58312,78413,66814,29716, 529
17,43919,21820,84423 81826,785
29,340
5,4656 1825,9556,217
5,7917,2666,5987,129
7,2477,9316,8727,289
Merchandise imports
General imports9
Total 3
Sea-sonally
ad-justed
7,8878,1518,5488,527
7,6439,6359,2979,438
9,7169,918
10,00310, 311
Unad-justed
13,39215,690
15,07314,76116,46417,20718,749
21,42925,61826,88933,22636,043
39,963
7,7648,2563,4578,750
7,4109,7819,1919,652
9,45310,0719,879
10, 560
Food,bever-ages,
and to-bacco
3,5503,580
3,3923,4553,6743,8834,022
4,0134,5904,7015,3655,308
6,234
1,2571,3081,4301,369
1,0131,4781,3311,487
1,5131,5801,5001,641
Crudemate-rialsand
fuels <
4,1644,615
4,4184,3344,6914,7555,029
5,4405,7185,3676,0316,391
6,553
1,4431,4631,5701,555
1.476640583
1,692
1,669,602,619
1,663
Man-ufac-tured
goods5
5,3117.117
6,8636,5377,6498,0709,106
11,24514,44615,75620,62423,011
25,903
4,8045,1805,1425,499
4,6476,3245,9276,113
5,9946,5746,4226,912
Grossmer-chan-dise
tradesur-plus,sea-
sonallyad-
justed 1
2,98373S
4,5865,4654,5225,2607,083
5,3223,8724,141
8371, 289
2,699
16131447154
- 3 9225564528
584997816376
» Beginning I960, data have been adjusted for comparability with the revised commodity classifications effective in 1965.2Totals exclude Department of Defense shipments of grant-aid military supplies and equipment under the Military
Assistance Program.3Total includes commodities and transactions not classified according to kind.* Includes fats and oils.8 Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these items
include military grant-aid shipments.• Total arrivals of imported goods other than intransit shipments.7 Exports, excluding military grant-aid, less generai imports; quarterly data seasonally adjusted.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately
prior to 1969. Export statistics cover all merchandise shipped from the U.S. customs area, except supplies for U.S. ArmedForces. Export values are f.a.s. port of export and include shipments under Agency for International Development andFood for Peace programs as well as other private relief shipments. Import values are defined generally as the marketvalue in the foreign country, excluding the U.S. import duty and transportation costs such as ocean freight andmarine insurance.
Source: Department of Commerce, Bureau of International Commerce.
300
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TABLE G-89.—US. merchandise exports and imports, by area, 1964-70
[Millions of dollars]
Area
Exports (including reexports and special categorysh ipments): Total
Developed countries...Developing countries .
CanadaOther Western Hemisphere._.Western Europe 1Eastern EuropeAsiaAustralia and OceaniaAfrica _
General imports: Total
Developed countries..Developing countries.._ .
CanadaOther Western Hemisphere-Western Europe!. _ . . -Eastern EuropeAsiaAustralia and OceaniaAfrica . _Unidentified countries2.
1964
26,650
17,3438,967
4,9214,2939,222
3405,811
8041,259
18,749
11,9246,711
4,2654,1855,209
993,620
442917
12
1965
27,530
18, 3669,023
5,6584,2759,257
1406,015
9561,229
21,429
14,1017,174
4,8584,3996,155
1374,528
455883
14
1966
30,430
20,12010,112
6,6794,7699,891
1986,740
8051,348
25,618
17,6327,795
6,1524,7377,679
1795,277
596992
6
1967
31,622
21,4679,960
7,1724,718
10,187195
7,1501,0181,182
26,889
18,9937,709
7,1404,6628,052
1775,349
583920
6
1968
34,636
23,60010,821
8,0725,339
11,132215
7,5821,0261,269
33,226
24,1308,886
9,0055,143
10,139198
6,911697
1,12211
1969
38,006
26,47911,277
9,1375,576
12, 392249
8,261998
1,392
36,043
26,4609,373
10, 3845,163
10.138195
8,275828
1,04612
1970
43,226
29, 88412, 989
9,0846,534
14,465353
10,0231,1881,579
39,963
29,26210,450
11,0915,840
11,175226
9,626871
1,11124
1 Includes Finland, Yugoslavia, Greece, and Turkey.2 Consists of certain low-valued shipments not identified by country.
Note.—Developed countries include Canada, Western Europe, Japan, Australia, New Zealand, and the Republic ofSouth Africa. Developing countries include rest of the world except Communist areas in Eastern Europe and Asia andunidentified countries.
Source: Department of Commerce, Bureau of International Commerce.
301
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TABLE C-90.—U.S. overseas loans and grants, by type and area, fiscal years; 1962-70[Millions of dollars]
Type of program and fiscalperiod
Total economic loans and grants(net obligations and loanauthorizations): l
1962-69 average...LoansGrants
1970LoansGrants
Economic loans and grants toless developed countries, byprogram^
Net obligations and loanauthorizations:
1962-69 average1970
Repayments and interest:1962-69 average1970
Agency for InternationalDevelopment:
Net obligations and loanauthorizations:
1962-69 average1970
Repayments and interest:1962-69 average1970 . . .
Export-Import Bank long-termloans:
Loan authorizations:1962-69 average1970
Repayments and interest:1962-69 average1970
Food for Peace:
Obligations:1962-69 average1970 . . .
Repayments and interest:1962-69 average1970 . . . .
Contributions and Subscriptionsto International Lending Or-ganizations:3
Obligations:1962-69 average1970
Peace Corps and other:4
Obligations:1962-69 average1970
Repayments and interest:1962-69 average1970 . . . .
Total
4,6042,4352,169
4,7162,6112,105
4,4134,103
7641,205
2,1401,665
217305
416615
403628
1,3431,159
120235
294480
220184
2436
NearEastand
SouthAsia
1,4251,071
354
914745169
1,425914
279438
664330
120173
90122
78126
660452
76137
139
52
LatinAmerica
1,164740424
1,048511537
1,1641,048
306454
516378
2754
206186
254345
152153
1225
196300
9432
1229
Vietnam
3590
359
42076
344
359420
105
278304
95
81115
0
EastAsia
539222316
846633213
473676
5795
223180
2326
28187
2641
189281
626
3329
21
Africa
376166210
294118177
376294
3482
184139
1928
3227
1241
137108
313
2220
1
Europe
23820038
454447
7
13869
73127
1
1718
6069
3376
76
2334
0
Otherand
non-regional
50335
468
74082
658
478682
64
274334
20
23
4950
97180
5794
34
iSome data are preliminary.2 Countries have been classified "less developed" on the basis of the standard list of less developed countries used
by the Development Assistance Committee of the Organization for Economic Cooperation and Development. On thisbasis, "less developed" countries include all countries receiving U.S. loans or grants except the following which areconsidered "developed": Japan, Australia, New Zealand, Republic of South Africa, Canada, and all of Europe exceptMalta, Spain, and Yugoslavia.
3 Includes capital subscriptions and contributions to the Inter-American Development Bank, the International Develop-ment Association, and the Asian Development Bank.
* Data for certain programs from Department of Commerce (Office of Business Economics).
Source: Agency for International Development (except as noted).
302
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TABLE C-91.—International reserves, 1949, 1953, and 1965-70
[Millions of dollars; end of period]
Area and country
All countries
Developed areas
United States
United Kingdom
Other Western EuropeAustriaBelgiumFranceGermanyItalyNetherlandsScandinavian coun-
tries (Denmark,Finland, Norway,and Sweden)
SpainSwitzerland ._ _.Others
Canada
Japan
Australia, New Zealand,and South Africa
Less developed areas3
Latin AmericaMiddle EastOther AsiaOther Africa
1949
45, 635
37, 245
26, 024
1,752
6,45592
978580196
5370)
1,6921,222
1,197
0)
1,587
8,390
2,7751,4753,395«290
1953
51, 780
41,375
23, 458
2,670
10, 500325
1,144829
1,773768
1,232
1,026150
1,768
1,484
1,902
892
1,953
10,405
3,4001,2003,8401,800
1965
70, 830
59, 511
15, 450
3,004
33,6941,3112,3346,3437,4314,8002,416
2,3241,4223,2442,069
3,037
2,152
2,174
11,320
3,2452,7353,4251,860
1966
72,420
60,306
14, 881
3,100
35, 0911,3332,3506,7338,0294,9102,448
2,3411,2533,3242,370
2,702
2,119
2,413
12,115
3,1752,9103,8752,100
1967
74,140
61,136
14, 830
2,695
36, 5881,4842,5906,9948,1535,4632,619
2,2361,1003,5552,394
2,717
2,030
2,276
13,000
3,4503,2954,0802,115
1968
77, 005
62, 893
15,710
2,422
35,8191,5102,1874,2019,9485,3422,463
2,3201,1503,9322,766
3,046
2,906
2,990
14,110
3,9353,3104,2152,480
1969
77, 735
62,179
16, 964
2,527
33,1571,5372,3883,8337,1295,0132,529
2,2131,2813,9953,239
3,106
3,654
2,771
15,535
4,4953,0354,8153,065
1970
Sep-tember
86,885
68, 867
15, 527
2,666
39,2061,6722,7904,74311,3014,5192,987
2,1971,5914,0803,326
De-cember
14,487
2,827
1,7572,8474,96013,6105,2993,234
2,5331,8174,701
4,553
3,996
3,027 !
17,885 |.
5,445 i3,005 I5,155 !4,145
4,679
4,839
2,826
1 Not available separately.2 In addition to other Western European countries, includes unpublished gold reserves of Greece and an estimate of
gold to be distributed by the Tripartite Commission for the Restitution of Monetary Gold.3 Includes unpublished gold holdings not allocable by area.• Estimate.
Note.—Includes gold holdings, reserve positions in the International Monetary Fund, and foreign exchange of all countriesexcept U.S.S.R., other Eastern European countries, Communist China, and Cuba (after 1960).
Beginning 1959, when most of the major currencies of the world became convertible, data exclude known holdings ofinconvertible currencies, balances under payments agreements, and the bilateral claims arising from liquidation of theEuropean Payments Union.
Source: International Monetary Fund, "International Financial Statistics."
303
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TABLE C-92.—U.S. reserve assets, 1946-70
[Millions of dollars]
End of year ormonth
1946194719481949
1950 .19511952.19531954
1955 . . .1956195719581959
1960.1961196219631964 .
1965 .196619671968 .1969.
1970
1969:JanFebMarAprMayJune .
JulyAugSeptOctNovDec
1970: Jan. .FebMarAprMayJune
JulyAug - .SeptOctNovDec
Total reserveassets
20,70624,02125,75826, 024
24,26524,29924,71423,45822,978
22,79723,66624,83222, 54021,504
19, 35918,75317,22016,84316,672
15,45014,88214,83015,710
716,964
14,487
15,45415,49915,75815,94816,07016,057
15,93616,19516, 743
716,31616, 00016,964
17,39617,67017,35016,91916,16516,328
16,06515,79615,52715,12014,89114,487
Gold stock i
Total 2
20,70622,86a24,39924, 563
22,82022,87323,25222,09121,793
21,75322,05822,85720, 58219,507
17,80416,94716,05715, 59615,471
s 13,80613,23512,06510,89211,859
11,072
10,82810,80110,83610,93611,15311,153
11,14411,15411 16411,19011 17111,859
11,88211,90611,90311,90211,90011,889
11,93411,81711,49411,49511,47811,072
Treasury
20,52922,75424,24424,427
22,70622,69523,18722,03021,713
21,69021,94922,78120,53419,456
17,76716,88915,97815,51315,388
6 13,73313,15911,98210,36710, 367
10,732
10,36710,36710,36710,36710,36710, 367
10, 36710,36710,36710,36710, 36710,367
11,36711,36711,36711,36711,36711,367
11,36711,36711,11711,11711,11710,732
Specialdrawingrights 3
851
899919920926925957
961961991991961851
Convertibleforeign
currencies 4
11699
212432
7811,3212,3453,528
7 2,781
629
3,3383,3993,6013,6243,4743,355
3,1663,3993 797
7 3,3412 8652,781
2,2942,3381,9501,581
9801,132
716695
1,098811640629
Reserveposition in
InternationalMonetary Fund5
1 1531 3591 461
1 4451,4261 4621 3671,185
1 0441,6081 9751 9581,997
1,5551,6901 0641 035
769
6 863326420
1,2902,324
1,935
1,2881,2991,3211,3881,4431,549
1,6261,6421 7821,7851 9642,324
2,3212,5072,5772,5102,3602,350
2,4542,3231,9441,8231,8121,935
1 Includes gold sold to the United States by the International Monetary Fund with the right of repurchase whichamounted to $400 million on December 31, 1970. Beginning September 1965 also includes gold deposited by the IMF tomitigate the impact on the U.S. gold stock of purchases by foreign countries for gold subscriptions on increased IMFquotas. Amount outstanding was $166 million on December 31, 1970. The United States has a corresponding gold liabilityto the IMF.
2 Includes gold in Exchange Stabilization Fund.3 Includes initial allocation by the IMF of $867 million of Special Drawing Rights on January 1,1970, plus net transactions
of SDR's since that time.4 Includes holdings of Treasury and Federal Reserve System.5 In accordance with Fund policies the United States has the right to draw foreign currencies equivalent to its reserve
position in the Fund virtually automatically if needed. Under appropriate conditions the United States could draw addi-tional amounts equal to the United States quota.
6 Reserve position includes, and gold stock excludes, $259 million gold subscription to the Fund in June 1965 for a U.S.quota increase which became effective on February 23, 1966. In figures published by the Fund from June 1965 throughJanuary 1966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position.
7 I ncludes gain of $67 million resulting from revaluation of German mark in October 1969, of which $13 million representsgain on mark holdings at time of revaluation.
Note.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is not included inthe gold stock of the United States.
Sources: Treasury Department and Board of Governors of the Federal Reserve System.
3°4
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TABLE C-93.—Price changes in international trade, 1962-70
[1963 = 100]
Area or commodity class 1962 1963 1964 1965 1966 1967 1968 1969
1970
Thirdquarter
Developed areas
Total:
ExportsTerms of trade i_
United States 2 :
ExportsTerms of t rader-
Developing areas
Total:
ExportsTerms of trade i
Latin America:
ExportsTerms of trade i
Southern and Eastern Asia 4 :
ExportsTerms of trade *
Primary commodities: Total.
Foodstuffs
Coffee, tea, and cocoa..Cereals
Other agricultural commodities«
Fats, oils, and oilseeds..Textile fibers
WoolRubber
MineralsMetal ores..
Manufactured goods: Total 5__.
Nonferrous base metals 5_.
99100
100101
100102
Unit value indexes by area
100100
100100
100100
100100
100100
102100
10199
103101
107105
10099
103100
104101
10399
107102
10199
105100
107101
104101
108105
101100
105101
no102
103100
106102
9999
104101
111103
103101
107102
97100
108101
115103
106102
110101
103104
World export price indexes »
96
94
9699
97
949184107
99100
99
100
100
100
100100
100
100100100100
100100
100
100
103
105
121103
102
10410210395
102108
101
119
103
103
11199
103
114928697
104114
103
135
104
105
113104
104
111929091
104105
106
156
101
104
111106
96
102887775
103109
107
142
100
102
111102
96
100887473
102108
106
150
104
106
120102
101
101857399
104114
110
168
113101
12299
109101
3 1163 102
3 1053 104
107
112
14299
99
110836579
107120
117
168
1 Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.2 Includes foreign trade of Alaska, Hawaii, and Puerto Rico.3 Data are for second quarter 1970.< Excludes Japan.5 Data for manufactured goods are unit value indexes.6 Includes nonfood fish and forest products.
Note.—Data exclude trade of Communist areas in Eastern Europe (except Yugoslavia) and Asia.
Sources: United Nations and Department of Commerce (Bureau of International Commerce).
3°5
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TABLE G—94.—Consumer price indexes in the United States and other major industrial countries*
1957-70
[1963 = 100]
Period
195719581959
I9601961196219631964
19651966196719631989
1970i
1968- 1| |IIIIV
1969: 1 . -HIIIIV
1970: 1IIlitI V 2 . .
UnitedStates
91.894.495.1
96.697.798.8
100.0101.3
103.0106.0109.0113.6119.7
126.5
111.6112.8114.2115.6
116.9119.0120.7122.3
124.2126.2127.6129.0
Canada
91.794.195.1
96.297.198.3
100.0101.8
104.3108,2112.0116 7122.0
126. 0
115 0116.0117.3118.5
119.4121.6123.0123.8
125.0126.1126.7126.6
Japan
79.378.979.8
82.687.093.0
100.0103.9
110.7116.4121.0127.5134.1
143.5
126.2126.4127.4129.8
130.4132.8135.8137.5
141.1142.9144.6149.4
France
69.680.185.0
88.191 095.4
100.0103.4
106.0108.9111.8116 9124.4
130.5
115 1115.8117.2119.6
121.6123.2124.6126.5
128.5130.3131.9132.8
Germany
88.190.090.9
92.194.397.1
100.0102.3
105.8109.5111.1113 1116.1
120.2
112,8113.0112. S113.8
115.4115.9116.0117.0
119.4120.4120.6121.2
Italy
83.285.585.1
87.188.993.1
100.0105.9
110.7113.3116.9118.5121.6
126.9
118.2118.5118.3113.8
119.7120.9122.3123,5
125.4127.1128.1128.7
Nether-lands
889091
949597
100106
111.0117.4121.4125.9135.3
140.7
124.3125.5126.2127.7
133.6135.7135.3136.5
138.2140.4142.5144.2
UnitedKingdom
86.989.590.0
90.994 098.0
100.0103.3
103.2112.4115.2120 6127.2
134.5
117 8120.6121.3122.7
125.2127.2127.4129.0
131.5134.6136.1138.0
1 For United States, January-November average; for all other countries, January-October average, except Italy,January-September average.
2 October-November average for United States; October data for all other countries, except September data for Italy.
Sources: Department of Labor and Organization for Economic Cooperation and Development.
306U.S. GOVERNMENT PRINTING OFFICE:I97l O—411-364
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