ERP1970 Appendixes 3
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Transcript of ERP1970 Appendixes 3
Appendix C
STATISTICAL TABLES RELATING TO INCOME,
EMPLOYMENT, AND PRODUCTION
171
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CONTENTSNational income or expenditure:
C-l. Gross national product or expenditure, 1929-69 177C-2. Gross national product or expenditure, in 1958 prices, 1929-69 178G-3. Implicit price deflators for gross national product, 1929-69 180C-4. Gross national product by major type of product, 1929-69 182C-5. Gross national product by major type of product, in 1958 prices,
1929-69 183C-6. Gross national product: Receipts and expenditures by major economic
groups, 1929-69 184G-7. Gross national product by sector, 1929-69 186G-8. Gross national product by sector, in 1958 prices, 1929-69 187G-9. Gross national product by industry, in 1958 prices, 1947-68 188G-10. Personal consumption expenditures, 1929-69 189C-l 1. Gross private domestic investment, 1929-69 190C-12. National income by type of income, 1929-69 191C-l 3. Relation of gross national product and national income, 1929-69.. . . 192C-14. Relation of national income and personal income, 1929-69 193C-15. Disposition of personal income, 1929-69 194C-l6. Total and per capita disposable personal income and personal con-
sumption expenditures, in current and 1958 prices, 1929-69 195C-l 7. Sources of personal income, 1929-69 196C-18. Sources and uses of gross saving, 1929-69 198C-19. Saving by individuals, 1946-69 199C-20. Number and money income (in 1968 prices) of families and unrelated
individuals, by race of head, 1947-68 200
Population, employment, wages, and productivity:C-21. Population by age groups: Estimates, 1929-69, and projections,
1970-85 201C-22. Noninstitutional population and the labor force, 1929-69 202C-23. Civilian employment and unemployment, by sex and age, 1947-69. . 204C-24. Selected unemployment rates, 1948-69 205C-25. Unemployment by duration, 1947-69 206C-26. Unemployment insurance programs, selected data, 1940-69 207C-27. Wage and salary workers in nonagricultural establishments, 1929-69. 208C-28. Average weekly hours of work in selected nonagricultural industries,
1929-69 210C-29. Average gross hourly earnings in selected industries, 1929-69 211C-30. Average gross weekly earnings in selected nonagricultural industries,
1929-69 212C-31. Average weekly hours and hourly earnings, gross and excluding over-
time, in manufacturing industries, 1939-69 213C-32. Average weekly earnings, gross and spendable, total private non-
agricultural industries, in current and 1957-59 prices, 1947-69. . . 214C-33. Average weekly earnings, gross and spendable, in manufacturing
industries, in current and 1957-59 prices, 1939-69 215C-34. Indexes of output per man-hour and related data, private economy,
1947-69 216
173372-111 O—70 12
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Production and business activity: Page
C-35. Industrial production indexes, major industry divisions, 1929-69. . . . 217C-36. Industrial production indexes, market groupings, 1947-69 218C-37. Industrial production indexes, selected manufactures, 1947-69. . . . . 219C-38. Manufacturing output, capacity, and utilization rate, 1948-69 220C-39. Business expenditures for new plant and equipment, 1947-69 221G-40. New construction activity, 1929^69 222C-41. New housing starts and applications for financing, 1929-69 224C-42. Sales and inventories in manufacturing and trade, 1947—69 226C-43. Manufacturers' shipments and inventories, 1947-69 227G-44. Manufacturers' new and unfilled orders, 1947-69 228
Prices:G-45. Consumer price indexes, by major groups, 1929-69 229C-46. Consumer price indexes, by special groups, 1935-69 230C-47. Consumer price indexes, selected commodities and services, 1935-69. 231C-48. Wholesale price indexes, by major commodity groups, 1929-69 232C-49. Wholesale price indexes, by stage of processing, 1947-69 234
Money supply, credit, and finance:
C-50. Money supply, 1947-69 236C-51. Bank loans and investments, 1930-69 237C-52. Total funds raised in credit markets by nonfinancial sectors,
1961-69 238C-53. Selected liquid assets held by the public, 1946-69 240C-54. Federal Reserve Bank credit and member bank reserves, 1929-69. . . 241C-55. Bond yields and interest rates, 1929-69 242C-56. Short- and intermediate-term consumer credit outstanding, 1929-69. 244C-57. Instalment credit extended and repaid, 1946-69 245C-58. Mortgage debt outstanding, by type of property and of financing,
1939-69 246C-59. Mortgage debt outstanding, by lender, 1939-69. 247C-60. Net public and private debt, 1929-68 248
Government finance:
G-61. Federal budget receipts and outlays, 1929-71 249G-62. Federal budget receipts, outlays, financing, and debt, 1960-71 250C~63. Relation of the Federal Budget to the Federal sector of the national
income and -product accounts, 1968-71 252G-64. Receipts and expenditures of the Federal Government sector of the na-
tional income and product accounts, 1946-71 253C-65. Public debt securities by kind of obligation, 1946-69 254C-66. Estimated ownership of public debt securities, 1939-69 255C-67. Average length and maturity distribution of marketable interest-bear-
ing public debt, 1946-69 256C-68. Receipts and expenditures of the government sector of the national
income and product accounts, 1929-69 257C-69. Receipts and expenditures of the State and local government sector
of the national income and product accounts, 1946-69 258G-70. State and local government revenues and expenditures, selected fiscal
years, 1927-68 259
174
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Corporate profits and finance: Page
G-71. Profits before and after taxes, all private corporations, 1929-69 260C-72. Sales, profits, and stockholders' equity, all manufacturing corpora-
tions (except newspapers), 1947-69 261C-73. Relation of profits after taxes to stockholders' equity and to sales, all
manufacturing corporations (except newspapers), by industry group,1948-69 262
C-74. Sources and uses of funds, nonfarm nonfinancial corporate business,1958-68 264
C-75. Current assets and liabilities of United States corporations, 1939-69. 265C-76. State and municipal and corporate securities offered, 1934-69 266C-77. Common stock prices, earnings, and yields, and stock market credit,
1939-69 267C-78. Business formation and business failures, 1929-69 268
Agriculture:
C-79. Income from agriculture, 1929-69 269C-80. Farm production indexes, 1929-69 270C-81. Farm population, employment, and productivity, 1929-69 271C-82. Indexes of prices received and prices paid by farmers, and parity ratio,
1929-69 272C-83. Selected measures of farm resources and inputs, 1929-69 274C-84. Comparative balance sheet of agriculture, 1929-70 275
International statistics:
C-85. United States balance of payments, 1946-69 276C-86. United States merchandise exports and imports, by commodity groups,
1958-69 278C-87. United States merchandise exports and imports, by area, 1963-69. . 279C-88. United States overseas loans and grants, by type and area, fiscal years,
1962-69 280C-89. International reserves, 1949, 1953, and 1964-69 281C-90. United States reserve assets: Gold stock, holdings of convertible foreign
currencies, and reserve position in the International MonetaryFund, 1946-69 282
C-91. Price changes in international trade, 1961-69 283C-92. Consumer price indexes in the United States and other major in-
dustrial countries, 1957-69 284
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).* Amount insignificant in terms of the particular unit (e.g., less than
$50 million where unit is billions of dollars).
175
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NATIONAL INCOME OR EXPENDITURETABLE C-l.—Gross national product or expenditure, 1929-69
[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..
I960..1961..1962..1963..1964...1965...1966...1967...1968...1969 v.
1967: L -II.111IV.
1968: I . .II.IIIIV.
1969: LII.IIIIV
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
'28478;328.4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3
Per-sonalcon-
sump-tion
expend-itures^
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
325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0
Grossprivate
do-mesticinvest-ment2
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
54.159.351.952.651.767.470.067.860.975.3
74.871.783.087.194.0
108.1121.4116.0126.3139.6
Netexports
of goodsand
serv-ices 3
1.1
1.0.5.4.4.6.1.1.3
1.31.1
1.71.3
- 2 . 0- 1 . 8- . 67.5
11.56.46.1
1.83.72.2.4
1.82.04.05.72.2.1
4.05.65.15.98.56.95.35.22.52.1
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
99.6107.6117.1122.5128.7137.0156.8180.1200.3214.7
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
102.0
Federal
Nationaldefense5 Other
1.3
1.41.51.52.03.02.94.94.75.4
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
44.947.851.650.850.050.160.772.478.079.3
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
11.813.515.216.817.118.421.522.8
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
46.150.253.758.263.570.179.089.3
100.7112.7
Seasonally adjusted annual rates
774.2783.5800.4816.1
835.3858.7876.4892.5
908.7924.8942.8953.1
480.9489.8495.7502.6
520.6530.3544.9550.7
562.0572.8579.8589.2
113.6109.4117.7123.3
119.4126.6125.2133.9
135.2137.4143.3142.4
5.45.85.63.8
1.93.43.61.2
1.51.62.72.6
174.2178.5181.3186.4
193.4198.4202.5206.7
210.0212.9217.0218.9
87.890.391.393.5
96.399.0
100.9101.9
101.6100.6103.2102.7
69.971.973.074.6
76.177.978.879.3
79.078.580.379.2
17.918.418.418.9
20.121.122.122.5
22.622.122.923.5
86.488.190.092.9
97.199.4
101.7104.8
108.5112.3113.8116.2
1 See Table C-10 for detailed components,a See Table C - l l 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 Fiscal Year ending June 30,1971."
Source: Department of Commerce, Office of Business Economics.
177
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TABLE C-2.—Gross national product or expenditure, in 1958 prices, 1929-69
[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..
1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..
1960196119621963196419651966196719681969 v
1967: !____II . .III..I
1968: L___I I . . .IllIV.. .
1969: I.I I . . .IllIV*.
Totalgrossna-
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
487.7497.2529.8551.0581.1617.8658.1674.6707.6727.7
Personal consumptionexpenditures
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
316.1322.5338.4353.3373.7397.7418.1430.3452.6466.0
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
44.943.949.253.759.066.671.772.880.784.8
Non-dura-
blegoods
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
114.0116.5120.8124.4125.5131.7136.2138.7140.2146.8
149.6153.0158.2162.2170.3178.6187.0190.3196.9199.5
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
121.6125.6131.1137.4144.4152.5159.4167.2175.0181.7
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
109.3100.8105.7111.9
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
68.967.073.476.781.990.195.493.999.1
104.9
Gross private domestic investment
Fixed investment
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
47.145.549.751.957.866.374.173.675.881.5
Cfriif.
oiruc-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
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
24.825.524.625.824.527.728.829.125.027.9
29.628.131.734.038.744.050.151.053.257.5
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
'ftf18.919.621.725.122.220.220.824.7
21.921.623.824.824.223.821.320.323.323.5
Changein busi-
ness-inven-tories
3.5
— 6-2 A-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
13.96.96.66.9
Seasonally adjusted annual rates
666.5670.5678.0683.5
693.3705.8712.8718.5
723.1726.7730.6730.5
424.4430.5431.9434.3
445.6449.0458.2457.6
462.9466.2466.5468.5
70.373.973.073.9
77.779.583.082.7
84.385.984.784.1
190.2190.6190.3190.2
196.0195.8198.7197.2
199.3199.3199.3200.2
163.9166.1168.6170.3
171.8173.7176.5177.7
179.3181.0182.5184.1
100.595.7
101.6105.4
101.2106.6104.1110.9
109.9110.8114.3112.6
92.092.694.396.7
99.897.697.7
101.4
104.0104.8105.0106.0
74.173.573.173.8
77.174.075.077.3
79.481.082.483.2
23.822.122.322.1
23.622.022.222.9
23.923.324.624.2
50.351.450.851.6
53.552.052.754.4
55.557.757.859.0
17.919.021.223.0
22.723.522.724.1
24.623.822.622.8
8.53.17.48.7
1.59.06.49.6
5.96.09.36.7
See footnotes at end of table.
178
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TABLE C-2.-—Gross national product or expenditure, in 1958 prices, 1929-69—Continued
[Billions of dollars, 1958 prices]
Year or quarter
Net exports of goods and services
Netexports Exports Imports
Government purchases of goods andservices l
Total Federal State andlocal
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..
I960. . . .1961196219631964...1965. . .1966—1967.. .1968.. .1969 P .
1967: II I . .III.IV..
1968: I .11..III.IV.
1969: I
1.5
1.4.9.6.0
- L 0- 1 . 2- . 71.91.3
2.1.4
- 2 . 1- 5 . 9- 5 . 8- 3 . 8
8.412.36.16.4
2.75.33.01.13.03.25.06.22.2
4.35.14.55.68.36.24.23.6.9.0
IIIIV
4.04.24.12.0
.91.31.7
- . 2
- . 3- . 5
.4
.3
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
27.328.030.032.136.537.440.242.145.648.4
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
23.022.925.526.628.231.236.138.544.748.4
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
94.9100.5107.5109.6111.2114.7126.5140.0148.4149.8
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
51.454.660.059.558.157.965.474.878.976.1
Seasonally adjusted annual rates
41.841.942.242.5
43.945.248.045.5
41.950.450.251.3
37.837.838.140.5
43.043.946.345.7
42.250.849.850.9
137.6140.1140.4141.7
145.6148.9148.8150.2
150.6150.2149.4149.0
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
43.545.947.550.153.256.861.165.269.573.7
72.875.175.575.7
77.379.679.279.4
78.376.375.574.4
64.865.064.966.0
68.369.369.670.8
72.373.973.974.7
i Net of Government sales.Source: Department of Commerce, Office of Business Economics.
179
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TABLE G-3.—Implicit price deflators for gross national product, 1929-69
[Index numbers, 1958=100]
Year or quarter
1929
19301931193219331934193519361937 -19381939
1940 -1941194219431944 -.19451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969 v
1967: 1IIIIIIV
1968: 1IIIIIIV
1969: 1II .IllIV p
Totalgross
national
ucH
50.6
49.344.840.239.342.242.642.744.543.943.2
43.947.253.056.858.259.766.774.679.679.1
80.285.687.588.389.690 994.097.5
100.0101.6
103.3104 6105.8107.2108.8110.9113.9117.6122.3128.1
116.2116.9118.1119.4
120.5121.7122.9124.2
125.7127.3129.0130.5
Personal consumption
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 9104.9106.1107.4108.8111.5114.4118.6123.6
113.3113.8114.8115 7
116.8118.1118.9120.4
121.4122.9124.3125.8
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
100.3103.3105.7
99.699.5
100.5101.7
102.3102.9103.4104.5
104.9105.5106.0106.6
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
112.1112.5113.4114.0
115.3116.7117.5118.8
119.8121.5123.0124.6
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 6109.0110.9113.1115.1118.3122.1127.3133.5
120.6121.5122.5123.7
125.2126.6127.9129.5
131.0132.7134.2135.9
Gross private domestic investment *
Fixed investment
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
103.4103.9104.9106.0107.6109.3111.8115.7120.0125.3
113.8114.6116.6117.7
118.0119.6120.8121.7
123.7124.5126.2127.0
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
102.9103.4104.1104.5105.7107.5110.2113.7117.1121.9
112.4112.9114.2115.2
115.7116.7117.6118.4
120.1120.8122.7123.8
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
104.0105.6107.1108.9111.1114.7118.9123.6129.3139.1
121.8122.8124.6125.5
126.5128.7130.6131.4
135.3137.8141.0142.2
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
102.2102.1102.3102.3103.0103.9106.0109.2111.9114.7
107.9108.6109.7110.8
110.9111.6112.1113.0
113.5113.9114.9116.3
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
104.5105.0106.7108.9112.3114.2117.4123.1129.7137.4
119.7121.4124.8125.6
126.0128.7131.5132.4
135.3137.1138.8138.5
See footnotes at end of table.
180
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-3.—Implicit price deflators for gross national product, 1929-69—Continued
[Index numbers, 1958=100]
Year or quarter
1929
19301931193219331934 . . .19351936193719381939
1940194119421943194419451946194719481949
19501951 . .195219531954 . .19551956195719581959
19601961.196219631964.1965196619671 9 6 8 . . .1969 v
1967: 1I I . . . . . . .IllIV.. . . . . .
1968: 1IIIIIIV. .
1969: 1.IIIIIIV p . . . . .
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 8100.6101.5104.7107.7109.7110.9114.4
109.7109.6109.7109.8
108.9112.1111.3111.3
113.5113.4115.2115.2
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
101.5103.4105.6106.5107.6110.0
106.9106.3106.8105.9
106.7107.8107.5108.2
109.2109.2110.8110.8
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
105.0107.1109.0111.8115.7119.4124.0128.7135.0143.3
126.6127.4129.2131.5
132.8133.3136.2137.6
139.5141.8145.3146.9
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
104.2105.2105.6108.0112.2115.5118.8121.3126.2134.1
120.5120.3121.0123.5
124.5124.5127.4128.3
129.8131.9136.8138.1
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
105.9109.4113.2116.3119.5123.5129.4137.1145.0152.9
133.4135.6138.7140.7
142.3143.4146.2148.1
150.1151.9153.9155.6
Gross national product bysector
Private 2
51.7
50.445.740.939.943.043.543.445.344.643.9
44.748.755.560.962.062.668.276.381.480.6
81.487.489.089.690.891.694.597.9
100.0101.4
102.8103.7104.7105.8107.0108.8111.6114.8118.9124.2
113.5114.1115.2116.3
117.2118.4119.4120.6
122.0123.6125.0126.4
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
108.6113.6116.6121.5128.4133.5140.3148.1159.4170.6
144.5146.5148.4153.1
155.7156. S161.3163.6
165.6167.5173.7175.3
1 Separate deflators are not available for total gross private domestic investment, change in business inventories, andnet exports of goods and services.
2 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.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-4.—Gross national product by major type of product, 1929-69
[Billions of dollars]
Year orquarter
1929. . . .
19301 9 3 1 . . . .1932. . . .193319341935. . . .193619371938. . . .1939
1940194119421943194419451946. . . .194719481949
19501951195219531954....1955195619571958....1959
1960196119621963196419651966...19671968....1969 p . .
1967: I . . .III I I . .I V . .
1968: I . . .I I .I I I . .I V . .
1969: II I . .I I I .IV v
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
503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3
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
500.2518.1554.3584.6626.6675.3735.1786.2858.4924.3
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- . 54.7
-3 .1
6.810.33.1.4
-1 .56.04.71.3
-1 .54.8
3.62.06.05.95.89.6
14.87.47.38.0
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
259.6262.3284.5298.6319.4347.2383.3398.4431.1459.9
Finalsales
54.3
47.338.629.228.635.138.844.548.946.248.6
53.868.091.9
12K0133.3129.9118.5140.1149.4150.5
155.6179.4192.5203.7198.6210.4220.7233.3232.3244.4
256.0260.2278.5292.7313.6337.6368.5391.0423.7451.8
° =?C CO
fj-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- . 54.7
-3 .1
6.810.33.1.4
- 1 . 56.04.71.3
- 1 . 54.8
3.62.06.05.95.89.6
14.87.47.38.0
Durable goods
Total
17.5
11.47.73.64.97.49.3
12.213.99.9
12.7
16.626.835.554.257.948.936.946.048.747.8
60.473.774.679.472.185.790.394.483.695.6
99.596.5
109.0116.1127.0139.6156.7160.9176.7192.3
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
106.2113.3122.8133.0146.2157.0171.4186.1
II|1
1.4
- 1 . 0-1 .2-2 .0- . 5
.1
.3
.9
.8- . 9
.3
1.23.01.0.0
- . 6- 1 . 3
5.31.7.7
-2 .1
4.16.91.1.9
- 2 . 53.02.81.3
- 2 . 82.3
2.1- . 12.82.84.26.7
10.53.95.36.2
Nondurable g
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
160.1165.8175.5182.5192.4207.6226.6237.5254.4267.5
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
158.6163.7172.2179.4190.7204.7222.3234.1252.3265.7
IIC TO
0.3
.7
.1- . 4-1.1- . 9
.7
.31.8.0.1
1.01.4.7
- . 6- . 3
l!l-2.2
4.0-1.0
2.73.42.0
- . 51.02.91.9.0
1.32.4
1.52.13.23.11.63.04.33.52.01.8
Serv-ices
35.6
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
187.3199.5213.3226.2244.2262.9289.1316.7347. 5377.5
Struc-tures
11.4
9.26.73.82.93.54.05.66.76.27.5
8.311.814.08.76.16.5
15.621.427.728.3
35.437.539.141.744.249.051.552.353.158.3
56.858.362.665.768.874.877.578.487.195.0
Seasonally adjusted annual rates
Grossautoprod-uct
774.2783.5800.4816.1
835.3858.7876.4892.5
908.7924.8942.8953.1
765.2780.2792.6806.6
833.6848.8869.2882.0
902.1917.9932.0945.3
9.03.47.89.5
1.69.97.2
10.5
6.66.9
10.77.8
391.5395.9401.1405.3
414.5429.2437.0443.5
447.9456.5465.9469.0
382.5392.5393.3395.8
412.8419.3429.9433.0
441.3449.6455.2461.2
9.03.47.89.5
1.69.97.2
10.5
6.66.9
10.77.8
156.1159.9162.2165.5
168.3175.7178.8184.0
186.4190.3195.4197.1
151.9158.3157.7160.0
166.4168.9173.7176.6
181.6185.5187.8189.7
4.21.54.45.6
1.96.85.17.4
4.84.97.67.4
235.4236.0238.9239.8
246.2253.5258.3259.5
261.5266.2270.5271.9
230.7234.2235.5235.9
246.5250.4256.1256.4
259.7264.1267.4271.5
4.71.83.43.9
- . 33.12.13.1
1.82.13.1.4
306.4312.0320.1328.4
335.0343.4353.2358.5
365.8373.4381.6389.0
76.375.679.382.4
85.886.086.190.6
94.994.895.395.1
7.28.8
11.9
15.413.512.016.314.621.216.919.514.519.1
21.417.922.525.125.831.830.028.635.936.5
26.128.828.730.9
34.036.336.037.5
37.534.538.035.9
Source: Department of Commerce, Office of Business Economics.
l 8 2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-5.—Gross national product by major type o] product, in 1958 prices, 1929-69
[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...
1950...1951...1952...1953...1954. .1955...1956...1957...1958...1959...
1960...1961—.1962...1963...1964...1965..1966._1967. .1968. .1969 p.
1967:1 . - . .I I . . .I II . .IV...
1 9 6 8 : 1 . . .I I . . .III. .IV...
1969 :1 . . .I I . .III.IV P.
Totalgrossna-
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
487.7497.2529.8551.0581.1617.8658.1674.6707.6727.7
Final
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
484.495.2523.8545.2575.2608.8644.667.7701.0720.8
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
-2 i06.44.81.2
- 1 . 54.8
3.52.06.05.85.89.0
13.96.96.66.9
Goods output
Total
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
256.0257.3277.3289.7308.6330.7356.8362.7381.3392.7
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
252.6255.3271.3283.9302.8321.7342.9355.7374.7385.7
l l> o
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 .06.44.81.21 5
3.52.06.05.85.89.0
13.96.96.66.9
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
107.0114.2124.6136.5151.8152.0162.8172.4
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
104.1111.4120.4130.1141.9148.5158.0167.1
F2.7
-2 .1-3 .0-5 .1-1 .7
.2
.92.41.9
-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
2.82.84.16.59.83.54.75.3
Nondurable g
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
158.2162.3170.3175.6184.1194.2205.1210.7218.6220.3
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
156.7160.3167.2172.5182.3191.6201.0207.3216.7218.6
0.8
1.5.5
-1.1-2.7-2.8
1.5.7
3.6
.'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
1.52.03.3.11.72.64.13.41.91.6
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 1259.9267.3
Struc-tures
30.3
25.320.213.79.8
11.112.817.519.117.721.8
23.230.31.917.912.412.927.231.236.37.5
45.244.444.747.050.254.354.052.653.157.0
55.055.858.860.461.665.265.062.966.467.7
Grossautoprod-uct
Seasonally adjusted annual rates
666.5670.5678.0683.5
693.3705.8712.8718.5
723.1726.7730.6730.5
658.0667.4670.7674.8
691.8696.8706.3709.0
717.2720.7721.3723.8
8.53.17.48.7
1.59.06.49.6
5.96.09.36.7
359.2362.3364.2365.0
370.8380.8385.5388.2
389.1391.6395.9394.1
350.7359.2356.8356.3
369.4371.7379.1378.7
383.2385.7386.6387.5
8.53.17.48.7
1.59.06.49.6
5.96.09.36.7
148.8152.1153.0154.1
156.6162.3164.5167.8
169.0171.4174.7174.6
145.0150.8148.9149.2
154.8156.2159.9161.2
164.8167.3168.1168.3
3.81.34.14.9
1.76.14.56.5
4.24.16.66.3
210.4210.2211.2210.9
214.3218.4221.1220.5
220.2220.2221.2219.5
205.7208.4207.9207.1
214.6215.5219.2217.5
218.4218.4218.5219.2
4.71.83.33.8
- . 32.91.93.0
1.71.92.7.3
244.8246.9251.0253.7
255.4258.9262.4262.7
264.6267.0267.6269.8
62.561.362.964.9
67.166.264.867.5
69.368.067.166.5
10.311.414.8
19.115.913.518.717.124.618.620.214.518.5
21.017.522.024.725.531.830.628.735.134.9
26.629.328.530.4
33.435.635.236.2
36.233.036.434.2
Source: Department of Commerce, Office of Business Economics.
183
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,1929-69
(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..
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
350.0364.4385.3404.6438.1473.2511.9546.5590.0
1969* 629.6
Persons
Disposable personalincome
Total i
Less:Inter-
estpaidand
trans-fer
pay-mentsto for-eigners
1 9 6 7 : 1 . . . .I I . . . .I I I . . .I V . . .
1968:1....IL_._I I I . . .IV...
1969:1....IL. . .I I I . . .
1.9
1.2.9.7.7.6.7.8.9.8.9
1.01.1.8
1.01.41.82.22.4
2.93.13.54.34.65.15.96.46.57.1
7.88.18.69.7
10.712.013.013.915.016.0
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
342.3356.3376.6394.9427.4461.3498.9532.6575.0613.6
Per-sonal
con-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
325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0
Per-sonalsaving
ordis-
saving()
4.2
3.42.6
- . 6- . 9
.42.13.63.8
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
17.021.221.619.926.228.432.540.438.437.6
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
139.8144.6157.0168.8174.1189.1213.3228.4264.2302.0
Less:Trans-fers,inter-
est,andsub-
sidies a
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
36.541.342.844.446.749.955.562.870.678.3
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
103.3103.3114.2124.3127.3139.2157.9165.6193.6223.7
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
136.1149.0159.9166.9175.4186.9212.3242.9270.8293.0
Less:Trans-fers,inter-est,and
sub-sidies 2
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
36.541.342.844.446.749.955.562.870.678.3
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
99.6107.6117.1122.5128.7137.0156.8180.1200.3214.7
Sur-plusor
deficit(-),
na-tional
in-comeand
prod-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 . 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
-14.5- 6 . 7
9.0
Seasonally adjusted annual rates
534.4541.6550.3559.8
575.0587.4593.4604.3
610.2622.0639.0647.1
13.514.113.914.1
14.514.815.215.5
15.715.916.116.2
520.9527.5536.4545.7
560.5572.6578.2588.8
594.5606.1622.9630.9
480.9489.8495.7502.6
520.6530.3544.9550.7
562.0572.8579.8589.2
40.037.740.743.1
39.942.333.238.0
32.533.343.141.6
222 0224.5230.2236.9
248.5257.3271.0279.7
294.1302.0303.4
61.961.963.464.0
66.669.772.073.9
75.877.678.980 9
160.1162.5166.7173.0
181.9187.6199.1205.8
218.3224.4224.4
236.1240.4244.8250.4
260.0268.1274.5280.6
285.9290.6296.0299.7
61.961.963.464.0
66.669.772.073.9
75.877.678.980.9
174.2178.5181.3186.4
193.4198.4202.5206.7
210.0212.9217.0218.9
-14.1-16 .0-14.6-13.4
-11.5-10.8- 3 . 5- . 9
8.311.47.4
See footnotes at end of table.184
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G-6.—Gross national product: Receipts and expenditures by major economic groups,1929-69—Continued
[Billions of dollars]
Yearor
quarter
192919301931193219331934193519361937193819391940 -194119421943 .1944 . .19451946194719481949195019511952195319541955195619571958 . . . .19591960196119621963__1964196519661967— _ .19681969*
1967: L_IIIII...IV
1968: 1IIIII... _ . . .IV
1969: 1I I . . .IIIIV v
Grossre-
tainedearn-ings 3
11.28.65.33 23.25.26.46 77.78.08.4
10.511 414.516.317.115 114.520.228.029.729.433.135.136.139.246.347.349.849.456.856.858.766.368.876.284.791.393.396.798.6
Business
Grosspri-vate
domes-tic in-vest-
ment*
16.210.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.754.159.351.952.651.767.470.067.860.975.374.871.783.087.194.0
108.1121.4116.0126.3139.6
Excessof in-vest-ment(-)
- 5 . 1- 1 . 6- . 32.21.81.9
*- 1 . 8- 4 . 0
1.6- . 9
- 2 . 7- 6 . 5
4.610.610.04.6
-16 .1- 1 3 . 8- 1 8 . 0- 6 . 0
- 2 4 . 7- 2 6 . 2- 1 6 . 8- 1 6 . 5- 1 2 . 5-21 .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 3 . 4- 3 0 1-22 .7- 2 9 6- 4 1 . 0
International
Trans-fers to
for-eignersby per-
sonsandGov-ern-ment
0.4.3.3.2.2.2.2.2.2.2.2.2.2.2.2.38
2 92.64.55.64.03.52.52.52.32.52.42 32.42.42.42 62.72.82.82.82 83.02.92.6
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
14.719.716.815.813.818.718.016.917.819.823.626.523.123.527.228.630.332.337.139.243 446.250.655.4
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
12.015.115.816.615.917.819.620.820.923.323.223 025.126.428.632.338 141 048.153.3
Equals:Netex-
ports
1.11.0.54
.4
.6
.11
.31.31.11.71 3
*- 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 35.22.52.1
Excessof
trans-fersor
of netex-
ports<-)«
- 0 . 8- . 7- . 2- . 2- . 2- . 4
.111
- 1 . 1- . 9
- 1 . 5- 1 1
22.22.11 4
- 4 6- 8 9- 1 . 9- . 52.2
- . 2.3
2 15
.5- 1 . 5- 3 4
.22.3
- 1 . 7- 3 0- 2 . 5- 3 . 1- 5 . 7- 4 1—2 4- 2 . 2
.3
.6
Totalincomeor re-ceipts
102.491.275.157.755.064.572.581.390.584.189.298.7
124.1159.0193.6207.6208.0208.4230.4259.5256.2283.3325.1343.3361.6362.1395.9420.4441.1445.8484.5504.8520.8559.8590.8633.7688.0750.9794.5868.2938.5
Statis-ticaldis-crep-ancy
0.7- . 8
.7
.3
.6
- . 21 2
*.6
1.31.0.4
- 1 . 1- 2 . 0
2.53 9.1.9
- 2 . 0.3
1.53.32.23.02.72.1
- 1 . 1*
1.6- . 8
- 1 . 0- . 8
.5- . 3
- 1 . 3- 3 . 1
1 0- 1 . 0- 2 . 5- 6 . 2
Grossna-
tionalprod-uct
or ex-pendi-ture
103.190.475.858.055.665.172.282.590.484.790.599.7
124.5157.9191.6210.1211.9208.5231.3257.6256.5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3
Seasonally adjusted annual rates
91.691.993.895.9
92.197.299.398.3
97.798.099.7
113.6109.4117.7123.3
119.4126.6125.2133.9
135.2137.4143.3142.4
- 2 1 . 9- 1 7 . 5- 2 3 . 9- 2 7 . 4
- 2 7 . 3- 2 9 . 4- 2 6 . 0-35 .7
- 3 7 . 5- 3 9 . 4- 4 3 . 6
2.83.33.32.6
2.52.83.13.1
2.42.82.62.7
45.845.946.346.7
47.750.753.450.6
47.657.157.859.1
40.440.140.742.8
45.947.349.749.4
46.155.555.256 4
5.45.85.63.8
1.93.43.61.2
1.51.62.72 6
- 2 . 7- 2 . 5- 2 . 3- 1 . 3
.7- . 6- . 61.9
1.01.2.01
775.4785.2800.3817.2
837.1860.2879.6895.9
912.9931.3949.7
- 1 . 2- 1 . 7
.1- 1 . 1
- 1 . 8- 1 . 6- 3 . 3- 3 . 4
- 4 . 2- 6 . 5- 6 . 9
774.2783.5800.4816.1
835.3858.7876.4892.5
908.7924.8942.8953.1
> 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,
and subsidies less current surplus of government enterprises.3 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allowances, and
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 with sign changed.Note.—Corporate profits tax and related items for 1969 reflect repeal of investment tax credit.Source: Department of Commerce, Office of Business Economics.
185
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-7.—Gross national product by sector, J929-69
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966. . .1967. . .19681969*
1967:1||IIIIV
1968:1IIIIIIV
1969:1IIIIIIV v
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
503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3
774.2783.5800.4816.1
835.3858.7876.4892.5
908.7924.8942.8953.1
Gross private productl
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
456.3469.2505.7532.4569.4617.1673.3708.2770.5828.2
692.0699.5714.2727.1
743.9764.9779.2794.0
808.5822.7836.5845.2
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
440.7452.3487.4513.0548.2594.4648.9681.0740.6795.4
Nonfarm2
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
420.2431.4466.2491.5527.6570.8624.0656.6715.7768.4
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
20.520.921.221.520.623.724.924.424.927.0
Seasonally adjusted annual rate
665.9673.0686.4698.6
715.4734.6749.3763.1
776.7790.5803.6810.8
642.1648.6661.7673.9
690.5709.8724.1738.4
751.1763.0775.9783.8
23.824.424.724.7
24.924.825.224.7
25.727.627.726.9
House-holdsand
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
13.214.015.016.017.318.520.222.725.228.6
5
22.022.522.923.4
24.325.425.026.0
27.228.328.930.0
Rest ofthe world
0.8
75
.4
.334
.3343
444
.4
.44
.6
.81.01.0
1.21 31.31.31.61.82.12.22.02.2
2.42.93.33.44.04.24.14.54.74.2
4.14.04.95.1
4.34.94.94.9
4.53.94.14.4
Grossgovern-
mentproduct 3
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
47.550.954.758.163.067.876.685.395.2
104.1
82.284.086.289.0
91.393.897.198.5
100.2102.1106.2107.9
* 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.
s Compensation of general government employees.
Source: Department of Commerce, Office of Business Economics.
186
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C - 8 — Gross national product by sector, in 1958 prices, 1929-69
[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.
1950.1951.1952.1953.1954.1955.1956.1957.1958.1959.
1960. . .1961 . . .1962 . . .1963 . . .1964 . . .1965 . . .1966. . .1967. . .1968. . .1969 p . .
1967: lI
:I I . .III.IV..
1968: !.
III.IV.
1969:1.I I . .III..IV p
Totalgross
nationalproduct
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
487.7497.2529.8551.0581.1617.8658.1674.6707.6727.7
Gross private product i
Tntali oiai
190.9
170.1155.8131.0127.5138.3152.4173.1184.3172.6188.7
205.6236.6257.3272.8286.9282.5275.1281.4295.0294.1
324.2344.6353.2371.1366.2397.2404.8410.5405.2433.4
444.0452.3482.9503.2532.0567.0603.5617.0647.9666.7
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
429.5436.9466.7486.6514.4548.9584.9597.3627.5645.3
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
407.6414.8444.6463.8492.1525.2562.5573.5604.2621.8
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
21.922.222.122.822.323.722.423.723.323.5
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
12.212.412.913.213.714.014.615.415.917.3
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
1.11.2L.2
1.31.21.2L.31.61.82.02.12.02.2
2.32.93.43.43.94.13.94.34.54.0
Seasonally adjusted annual rates
Grossgovern-
mentproducts
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
43.744.846.947.849.150.854.657.659.761.0
666.5670.5678.0683.5
693.3705.8712.8718.5
723.1726.7730.6730.5
609.6613.1619.9625.4
634.6646.1652.6658.3
662.6665.8669.4668.9
590.6593.9599.7604.8
615.0625.3632.1637.5
641.5644.8648.2646.9
567.3570.0575.9581.1
591.0602.3608.8614.6
617.8621.1624.1624.3
23.324.023.923.7
24.023.023.422.9
23.723.724.122.6
15.115.415.515.7
15.516.115.716.2
16.817.217.417.8
3.93.84.74.9
4.14.74.74.6
4.33.73.94.2
56.957.358.158.1
58.759.860.260.2
60.560.961.161.6
1 Gross national product less compensation of general government employees.2 Includes compensation of employees in government enterprises. Government enterprises are those agencies of 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.
187
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-9.—Gross national product by industry•, in 1958 prices, 1947-68
[Billions of dollars, 1958 prices]
Year
194719481949 .
19501951 . . .195219531954 .
19551956195719581959 . .
196019611962 . . . .19631964
1965196619671968
Totalgross
na-tional
product
309.9323.7324.1
355.3383.4395.1412.8407.0
438.0446.1452.5447.3475.9
487.7497.2529.8551.0581.1
617.8658.1674.6707.6
Agri-culture,fores-tsandfish-eries
17.920.019.4
20.419.520.221.221.6
22.122.021.522.022.3
23.123.423.324.023.6
25.023.725.024.6
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
23.524.723.123.8
Manufacturing
Total
91.896.390.9
105.5116.2118.7128.6119.5
133.6134.1134.6123.7138.9
140.9140.4154.6162.4173.7
190.5205.7205.6220.6
Dur-able
goodsindus-tries
52.355.050.5
60.869.071.579.171.2
80.779.479.669.679.9
81.079.790.095.6
102.4
114.8125.1124.4133.3
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.̂ 387.2
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
59.264.066.570.4
VA/hnlo
saleandretailtrade
52.754.255.2
60.461.462.964.965.5
71.673.875.175.180.8
82.383.588.992.898.9
104.8111.6113.9119.9
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
83.186.891.395.8
Serv-ices
30.631.932.1
33.134.034.535.335.4
38.240.241.842.945.1
46.748.350.852.254.7
57.760.663.665.9
Gov-ern-mentand
govern-mententer-prises
32.433.234.7
35.943.947.247.146.1
46.046.246.947.347.9
49.250.652.653.956.1
58.061.865.568.6
Allother»
6.77 1
10.6
12.113.014.014.313.5
14.412.713.116.014.1
14.716.317.917.417.8
15.819.420.017.6
i Mining, rest of the world, and residual (the difference between gross national product measured as sum of final prod-ucts and gross national product measured as sum of gross product by industries).
Source: Department of Commerce, Office of Business Economics.
188
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-10.—Personal consumption expenditures, 1929-69
[Billions of dollars]
Yearor
quarter
1929....
1930...193119321933._1934...1935....1936....1937....1938....1939
194019411942....1943194419451946....1947....1948....1949
195019511952.. . .195319541955195619571958[959
I960. . . .19611962~"I1963.- . .19641965.".'..1966196719681969 p . .
1967:1.-II.IllIV
1968: 1..II.IllIV
1969:1.IIIIIIV
tion
Q.
Is
Pa.
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.308.319.743.460.773.676.8
91.006.316.730.036.554.466.781.4
290.1311.2
325.2335.2355.1375.0401 2432.8466.3492.3536.6576.0
Durable goods
is
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
45.344.249.553.959.266.370.873.083.389.6
COQ .
•a
Io
3
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
20.118.422.024.325.830.330.330.537.040.3
i
IsifI1
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
18.919.320.522.225.026.929.931.334.235.9
aJEL
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
10.511.212.113.4
Nondurable goods
"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
151.3155.9162.6168.6178.7191.1206.9215.1230.6243.8
gco
. Q
£=CO
1
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
105.8108.1115.0120.0
1
.=1c"oo
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
27.327.929.630.633.535.940.342.546.349.9
oTJ{=
|
s
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
12.312.412.913.514.015.316.617.719.121.3
a>
O
7.0
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
31.232.734.436.338.241.144.446.850.152.7
I30.3
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 3175.5188.6204.2222.8242.5
DOC
|
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
46.348 752.055.459 363.567.571.877.483.7
Service:
olo
0>CO3O
X
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
20.020.822.023.124.325.627.129.131.233.5
>
12
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
10.810.611.011.411.612.613.614.716.117.5
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
51.654.958.062.568 173.880.488.698.1
107.8
Seasonally adjusted annual rates
480.9489.8495.7502.6
520.6530.3544.9550.7
562.0572.8579.8589.2
70.073.573.375.2
79.581.885.886.3
88.490.689.889.6
28.431.330.931.2
34.835.638.639.0
39.440.040.840.9
30.731.231.232.2
33.433.835.034.6
35.536.835.835.6
10.911.011.211.7
11.312.412.112.8
13.613.813.213.1
213.2214.4215.8216.8
226.1228.5233.3234.3
238.6242.1245.1249.4
107.8107.6108.1108.9
112.6114.8116.1116.4
118.4119.1119.9122.6
41.742.642.942.7
45.045.647.447.3
48.150.050.850.6
17.317.517.918.1
18.918.819.519.5
20.421.021.822.0
46.446.746.847.1
49.649.450.351.1
51.852.052.754.2
197.7201.8206.6210.6
215.1220.0225.8230.1
235.0240.1244.9250.2
70.171.172.373.7
75.276.777.979.8
81.382.884.486.3
28.229.029.330.1
30.530.731.631.9
32.733.133.934.2
14.414.514.815.0
15.515.916.316.5
17.117.317.717.9
85.087.290.391.8
93.896.7
100.0101.8
103.9106.9108.8111.8
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.
3 7 2 - 1 1 1 O — 7 0 l 8 9
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-ll.—Gross private domestic investment, 1929-69
[Billions of dollars]
Year orquarter
1929..
1930..1 9 3 1 -1932..1933-1934..1935..1936..1937..1938..1939..
1940..1941..1942..1 9 4 3 -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 P
1967: I
III."IV._
1968: II I . .I I I . .IV..
1 9 6 9 : I . . .I I . .I I I .
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
54.159.351.952.651.767.470.067.860.975.3
74.871.783.087.194.0
108.1121.4116.0126.3139.6
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
106.6108.6119.0131.5
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
48.447.051.754.361.171.381.683.788.899.3
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
18.118.419.219.521.225.528.527.929.333.4
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
17.417.718.518.820.524.927.827.228.632.6
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
30.328.632.534.839.945.853.155.759.565.9
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
27.725.829.431.236.341.648.450.954.661.4
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
(193)17.217.218.019.723.321.620. 2-20,825.5
22.822.625.327.027.127.225.025.030.232.2
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
22.222.024.826.426.626.724.524.429.631.7
Farm
0.2
Change inbusiness
inventories
Total
1.7
- . 4-1 .1- 2 . 5-1 .6
l!l1.32.5
- . 9.4
2.24.51.8
- . 6-1 .0-1 .0
6.4- . 54.7
- 3 . 1
6.810.33.1.4
- 1 . 56.04.71.3
- 1 . 54.8
3.62.06.05.95.89.6
14.87.47.38.0
Seasonally adjusted annual rates
Non-farm
113.6109.4117.7123.3
119.4126.6125.2133.9
135.2137.4143.3142.4
104.7106.1109.9113.8
117.7116.7118.0123.4
128.6130.5132.5134.5
83.383.083.585.0
89.186.488.191.5
95.397.8
101.1103.0
29.027.227.827.8
29.828.329.030.1
32.332.134.734.4
28.326.427.027.0
29.027.628.329.3
31.631.434.033.6
54.255.855.757.2
59.458.159.161.4
63.065.766.468.6
49.650.950.852.3
54.253.154.356.7
58.761.062.463.6
21.423.126.528.8
28.630.329.931.9
33.332.731.431.6
20.922.525.928.3
28.029.729.431.4
32.832.230.931.0
0.6.6.6.6
.6
.6
.5
.5
.5
.5
.5
.5
9.03.47.89.5
1.69.97.2
10.5
6.66.9
10.77.8
1.8
- . 1-1 .6-2 .6- 1 . 4
.2
.42.11.7
-1 .0.3
1.94.0.7
- . 6- . 6- . 66.41.33.0
-2 .2
6.09.12.11.1
- 2 . 15.55.1.8
- 2 . 34.8
3.31.75.35.16.48.6
15.06.87.47.8
9.13.07.08.0
1.310.37.5
10.7
6.66.7
10.37.6
Source: Department of Commerce, Office of Business Economics.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-12.—National income by type of income, 1929-69
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939
1940 . . .19411942 . .194319441945 .1946194719481949
195019511952 . . .19531954195519561957 . . .19581959
196019611962196319641965196619671968 . . .1969 v
1967' 1| |IIIIV...
1 9 6 8 : 1 - - -IIM L .IV
1969: 1III I I . .IV v
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 6654.0714.4771.5
639.3646 2658.5672.0
688.8707.4724.1737 3
751.3765 7780.6
Compensation ofemployees
Total
51.1
46.839.831.129.534.337.342.947.945.048.1
52.164.885.3
109.5121.2123.1117.9128.9141.1141.0
154.6180.7195.3209.1208.0224.5243.1256.0257.8279.1
294.2302.6323.6341.0365.7393.8435 5467.4513.6564.2
456.2461 1470.7481.7
495.1507.0519.8532 3
546.0558 2571.9580.9
Wagesandsala-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
270.8278.1296.1311.1333.7358.9394.5423.5465.0509.8
413.2417.7426.5436.5
448.2459.0470.7482 1
493.3504 3516.9524 8
Sup-ple-
mentsto
wagesand
sala-ries2
0.7
.7
.6
.6
.5
.6
.61.01.82.02.2
2.32.73.23.84.55.65.95.95.86.5
7.89.6
10.210.911.513.215.217.317.920.9
23.424.627.529.932.035.041.043.948.654.4
43.043 444.245.1
47.048.049.150 2
52.753 855.056 1
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
34.235.637.137.940.242.445.247.249.250.2
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
25.126.526.927.627.630.531.833.133.235.3
34.335.637.137.940.342.845.647.549.951.1
Inven-toryvalu-ation
adjust-ment
0.1
.8
.6
.3- . 5
*- . 1
*.2- . 2
*- . 6- . 4- . 2- . 1- . 1
- 1 . 7- 1 . 5- . 4
.5
- 1 . 1- . 3
2
- . 2- . 5- . 3- . 1- . 1
**••
- . 1- . 4- . 4- . 3- . 7- . 9
In-come
offarmpro-prie-tors 3
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
12.012.813.013.112.114.816.114.714.616.1
Rentalin-
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
15.816.016.717.118.019.020.020.821.221.6
Seasonally adjusted annual rates
46.547 147.847.5
48.449.249.349 7
49.750 150.550 4
14.314.714.814.9
14.814.314.814.4
14.916.416.816.3
20.620.820.921.0
21.121.221.221.4
21.521.621.721.8
Corporate profitsand inventory
valuationadjustment
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
49.950.355.758.966.376.182.479.287.988.7
78.378.379.181.1
82.588.290.690.3
89.589.288.8
Corpo-rate
profitsbeforetaxes <
10.0
3.7
-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
49.750.355.459.466.877.884.280.391.194.3
78.479.179.584.4
87.990.791.594.5
95.595.492.5
Inven-toryvalu-ation
adjust-ment
0.5
3.32.41.0
- 2 . 1- . 6- . 2- . 7
*1.0- . 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
-~L7- 1 . 8- 1 . 1- 3 . 2- 5 . 6
- 0 . 1- . 7- . 4
- 3 . 3
- 5 . 3- 2 . 6- . 9
- 4 . 2
- 6 . 1- 6 . 2- 3 . 7- 6 . 4
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
8.410.011.613.815.818.221.424.728.030.6
23.524.325.125.9
26.727.528.429.3
29.830.330.931.6
» 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.
> 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-71 for corporate tax liability and profits after taxes.Source: Department of Commerce, Office of Business Economics.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-13.—Relation of gross national product and national income, 1929-69
[Billions of dollars]
Year or quarter
Grossna-
tionalprod-
uct
Less:Capital
con-sump-
tionallow-ances
Equals:Netna-
tionalprod-
uct
Plus:Sub-sidies
lesscurrentsurplusof gov-
ern-mententer-prises
Less:
Indirect business taxes
Total FederalStateandlocal
Busi-ness
transferpay-
ments
Sta-tistical
dis-crep-ancy
Equals:Na-
tionalincome
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 v_
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
503.7520.1560.3590.5632.4684.9749.9793.5865.7932.3
1967: I . . .II...III.IV..
1968: I . . .II...III..IV..
1969: I . . .II...III..IV p.
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
43.445.250.052.656.159.863.968.673.377.9
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
460.3474.9510.4537.9576.3625.1685.9725.0792.4854.4
- 0 . 1
- . 1
.9
.9
.21.41.4.8
1.31.32.31.4.8
1.1
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
45.247.751.554.758.462.565.770.177.986.6
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
13.513.614.615.316.116.515.716.318.018.8
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. £27.028.9
31.734.136.939.442.345.949.953.859.967.8
0.6
.5
.6
.7
.7
.6
.6
.6
.6
.4
.5
. 4
.5
.5
.5
.5
.5
.5
.6
.7
.8
.91.01.21.11.21.41.51.61.7
1.92.02.12.32.52.73.03.23.43.6
0.7
- . 8.7.3.6.5
- . 21.2
*.6
1.31.0.4
- 1 . 1- 2 . 0
2.53.9
- 2 . 0.3
1.53.32.23.02.72.1
- 1 . 1
1.6
- 1 . 0- . 8
.5- . 3
- 1 . 3- 3 . 1- 1 . 0- 1 . 0- 2 . 5- 6 . 2
Seasonally adjusted annual rates
774.2783.5800.4816.1
835.3858.7876.4892.5
908.7924.8942.8953.1
66.867.969.270.4
71.773.073.774.6
75.977.278.679.9
707.4715.6731.2745.7
763.6785.6802.6817.9
832.8847.6864.2873.2
1.71.21.41.2
.6
.71.1.9
1.1.9
1.11.3
67.969.270.872.7
73.977.079.481.4
83.385.788.089.3
15.916.216.516.7
17.417.918.318.5
18.518.619.118.9
52.053.054.355.9
56.559.261.162.9
64.867.168.970.4
3.13.23.23.3
3.33.43.43.5
3.53.63.63.6
- 1 . 2- 1 . 7
.1- 1 . 1
- 1 . 8- 1 . 6- 3 . 3- 3 . 4
- 4 . 2- 6 . 5- 6 . 9
86.8
75.459.742.840.349.557.265.073.667.472.6
81.1104.2137J170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.9518.1564.3620.6654.0714.47(71.5
639.3646.2658.5672.0
688.8707.4724.1737.3
751.3765.7780.6
Source: Department of Commerce, Office of Business Economics.
192
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G-14.—Relation of national income and personal income, 1929—69
[Billions of dollars]
Year or quarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
195019511952 . . . .1953195419551956 .195719581959
196019611962196319641965196619671968 - -1 9 6 9 P
1967: 1II.IllIV _
1968: LIIIIIIV
1969: 1IIIIIIV P
Nationalincome
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
414.5427.3457.7481.9518.1564.3620.6654.0714.4771.5
639.3646.2658.5672.0
688.8707.4724.1737.3
751.3765.7780.6
Less:
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
49.950.355 758.966.376.182.479 287.988.7
78.378.379 181.1
82.588 290.690.3
89.589.288 8
i
Contri-butions
forsocialinsur-ance
0.2
3.3.33
.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
20.721.424.026.927.929.638.042.447.054.4
Wageaccruals
lessdis-
burse-ments
0 0
00
.000
.0
.00
.0
.0
.0
.0
.0
- . 2.00
.0
.0.0
.01
.0- . 1
0.0.0.0.0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
Plus:
Gov-ernmenttransferpaymentsto 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
26.630.431.233.034.237.241.148.855.861.9
Interestpaidby
govern-ment(net)
and byconsumers
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
15.115.016.117.619,120.522.223.626.128.7
Seasonally adjusted annual rates
41.142.042 843.7
45.446 547.648.6
52.753.855 156.1
0.0.0.0.0
.0
o.0.0
.0
.0o.0
47.648.449.050.0
52.955 356.758.1
60.161.362 563.6
23.423.023.624.3
25.025 726.427.4
27.928.528 929.5
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
13.413.815.216.517.819.820.821.523.124.6
21.121.722.021.1
22.222 923.623.8
23.824.324 925.2
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
1.92.02.12.32.52.73.03.23.43.6
3.13.23 23.3
3.33 43.43.5
3.53.63 63.6
Equals:
Personaincome
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
401.0416.8442.6465.5497.5538.9587.2629.4687.9747.1
615.2622.2634.5645.9
664.3680 1696.1711.2
724.4740.5756 5766.9
Source: Department of Commerce, Office of Business Economics.
193
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-15.—Disposition of personal income, 1929-69
Year orquarter
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
Percent of disposablepersonal income
Personaloutlays
Total
Con-sump-
tionexpend-
itures
Per-sonalsaving
Billions of dollars Percent
1929.
1930....1931....1932....1933 ...1934....19351936193719381939
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..
I960....1961196219631964....1965....1966196719681969 v
1967: I..II...M L .IV...
1968: I...II..III..IV..
1969: I...
IV p.
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
401.0416.8442.6465.5497.5538.9587.2629.4687.9747.1
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
50.952.457.460.959.465.775.482.997.9
117.5
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
350.0364.4385.3404.6438.1473.2511.9546.5590.0629.6
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
333.0343.3363.7384.7411.9444.8479.3506.2551.6592.0
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
325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0
1.5
.9
.7
.5
.5
.5
.5
.6
.7
.7
.7
.8
.9
.7
.5
.5
.5
.81.11.51.9
2.42.73.03.84.04.75.45.85.96.5
7.37.68.19.1
10.111.312.413.114.215.3
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
.8
.8
.7
Seasonally adjusted annual rates
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
17.021.221.619.926.228.432.540.438.437.6
615.2622.2634.5645.9
664.3680.1696.1711.2
724.4740.5756.5766.9
80.880.684.186.1
89.392.7
102.6107.0
114.2118.5117.5119.8
534.4541.6550.3559.8
575.0587.4593.4604.3
610.2622.0639.0647.1
494.5503.9509.7516.6
535.1545.1560.2566.2
577.7588.8596.0605.5
480.9489.8495.7502.6
520.6530.3544.9550.7
562.0572.8579.8589.2
12.913.013.213.4
13.714.014.414.7
15.015.215.415.5
0.61.1.7.6
.7
.7
.8
.7
.7
.7
.8
.7
40.037.740.743.1
39.942.333.238.0
32.533.343.141.6
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
95.194.294.495.194.094.093.692.693.594.0
92.593.092.692.3
93.192.894.493.7
94.794.793.393.6
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
92.992.092.292.791.691.591.190.191.091.5
90.090.490.189.8
90.590.391.891.1
92.192.190.791.1
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
4.95.85.64.96.06.06.47.46.56.0
7.57.07.47.7
6.97.25.66.3
5.35.36.76.4
Source: Department of Commerce, Office of Business Economics.
194
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—69
Year or quarter
Disposable personal income
Total (billionsof dollars)
Currentprices
1958prices
Per capita(dollars)
Currentprices
1958prices
Personal consumption expenditures
Total (billionsof dollars)
Currentprices
1958prices
Per capita(dollars)
Currentprices
1958prices
Popu-lation(thou-
sands) i
1929. .
1 9 3 0 -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. .
I960 . .1961. .1962. .1963. .1964. .1965. .1966. .1967 . .1968. .1969 v.
1967: I . . .II . . .III..IV..
1968: I . . .II . . .III..IV..
1969: I . . .II...III.IV»».
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
350.0364.4385.3404.6438.1473.2511.9546.5590.0629.6
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
340.2350.7367.3381.3407.9435.0458.9477.7497.6509.4
683
605516390362414459518552504537
573695867976
1,0571,0741,1321,1781,2901,264
1,3641,4691,5181,5831,5851,6661,7431,8011,8311,905
1,9371,9832,0642,1362,2802,4322,5992,7452,9333,098
1,236
1,1281,077921893952
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
1,8831,9091,9682,0132,1232,2352,3312,3992,4742,507
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
325.2335.2355.1375.0401.2432.8466.3492.3536.6576.0
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
316.1322.5338.4353.3373.7397.7418.1430.3452.6466.0
634
567487389364406437483516492510
536604656726782855
1,0141,1151,1841,185
1,2591,3371,3811,4411,4561,5391,5851,6431,6661,758
1,8001,8241,9021,9802,0882,2242,3682,4722,6682,834
1,145
1,0591,016919897934985
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
1,7491,7551,8131,8651,9452,0442,1232,1612,2502,293
534.4541.6550.3559.8
575.0587.4593.4604.3
610.2622.0639.0647.1
471.6476.0479.4483.7
492.1497.4498.9502.1
502.6506.2514.1514.5
Seasonally adjusted annual rates
2,6942,7242,7602,799
2,8692,9242,9462,991
3,0143,0653,1403,171
2,3782,3942,4042,419
2,4552,4762,4772,485
2,4822,4942,5262,521
480.9489.8495.7502.6
520.6530.3544.9550.7
562.0572.8579.8589.2
424.4430.5431.9434.3
445.6449.0458.2457.6
462.9466.2466.5468.5
2,4252,4632,4862,513
2,5972,6402,7052,726
2,7762,8222,8492,887
2,1402,1652,1662,172
2,2232,2352,2752,265
2,2862,2972,2922,295
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
180,684183,756186.656189,417192,120194,592196,907199,114201,152203,216
198,349198,845199,417199, 996
200,425200,899201,450202,015
202,472202,964203,507204,093
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.
195
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-17.—Sources of personal income, 1929-69
[Billions of dollars]
Year or quarter
1929
1930193119321933193419351936193719381939 . . .
1940194119421943194419451946194719481949
1950195119521953195419551955195719581959
I960196119621963 - -196419651966196719681969P .
1967' 1 - -II .III.IV
1968* 1IIIIIIV
1969: I . .IIIIIIV v
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
401.0416.8442.6465.5497.5538.9587.2629.4687.9747.1
615.2622.2634.5645.9
664.3680.1696.1711.2
724.4740.5756.5766.9
Wage and salary disbursementsl
Total
50.4
46.239.130.529.0
•33.736.741.946.143.045.9
49.862.182.1
105.6116.9117.5112.0123.0135.3134.6
146.7171.0185.1198.3196.5211.3227.8238.7239.9258.2
270.8278.1296.1311.1333.7358.9394.5423.5465.0509.8
413.2417.7426.5436.5
448.2459.0470.7482.1
493.3504.3516.9524.8
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
112.5112.8120.8125.7134.1144.5159.3166.5181.5197.7
164.5163.9167.2170.6
175.7179.3183.0187.8
191.5196.5200.5202.1
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
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
100.3109.2119.5
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
41.544.046.849.954.158.363.770.578.388.1
Gov-ern-ment
4.9
5.25.35.05.16.16.57.97.58.28.2
8.410.216.026.633.034.920.717.418.920.6
22.428.933.134.134.636.238.340.443.545.6
48.752.256.059.564.369.377.786.296.0
104.5
Seasonally adjusted annual rates
132.3132.3134.6137.4
141.2144.2147.4150.7
153.3156.6159.9160.3
97.999.4
101.0102.7
105.1107.9110.8113.1
115.5118.3121.1123.2
67.869.771.472.9
75.177.378.982.0
85.487.188.791.2
83.084.786.990.3
92.394.597.999.2
100.8102.4106.6108.4
Otherlabor
in-come1
0.6
.6
'5.4.4.5.6.66
.6
.7
.7
.91.11.51.81.92.32.73.0
3.84.85.36.06.37.38.49.59 9
11.3
12.012.713.914.916.618.720.722.124.226.2
21.821.922.322.6
23.423.924.525.0
25.526.026.426.9
Propriinco
Busi-nessand
profes-sional
9.0
7 65.83 63 34.75.56.77.2
" 6 9.7.4
8 611.114.017 018.219.221.620.322.722.6
24.026.127.127.527 630.331.332.833 235.1
34.235 637.137.940.242.445.247.249.250.2
46.547.147.847.5
48.449.249.349.7
49.750.150.550.4
e tors'me
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 41L4
12.012 813.013.112.114 816.114.714.616.1
14.314.714.814.9
14.814.314.814.4
14.916.416.816.3
See footnotes at end of table.
I96
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—17.—Sources of personal income, 1929—69—Continued
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
195019511952195319541955195619571958 -. .1959
I96019611962 . . .196319641965 _19661967. . . .19681969 v
1967: L. .IIIIIIV
1968: 1IIIIIIV
1969: 1IIIII . . . .IV p . . . .
Rentalincomeof 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
15.816.016.717.118.019.020.020.821.221.6
20.620.820.921.0
21.121.221.221.4
21.521.621.721.8
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
13.413.815.216.517.819.820.821.523.124.6
21.121.722.021.1
22.222.923.623.8
23.824.324.925.2
Personalinterestincome
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
23.425.027.731.434.938.743.648.354.159.3
46.847.348.750.2
51.753.254.856.7
57.658.859.861.1
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
28.532.433.335.336.739.944.152.059.265.5
50.751.652.253.3
56.358.760.161.6
63.664.966.167.2
Transfer payments
Old-age,survivors,disability,and healthinsurancebenefits
***
*0.1.1.2.2.3.4.5.6.7
1.01.92.23.03.64.95.77.38.5
10.2
11.112.614.315.216.018.120.825.730.333.1
Stateunem-ploy-
ment in-surancebenefits
*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
Vet-erans'
benefits
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
4.64.84.85.05.35.65.76.67.28.2
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
10.010.911.212.212.914.015.717.619.722.0
Seasonally adjusted annual rates
24.525.826.026.4
28.230.330.931.8
32.432.933.333.7
2.12.12.22.0
2.21.92.12.0
2.21.92.22.2
6.56.56.56.8
7.17.27.17.3
7.88.28.48.6
17.717.117.518.1
18.919.420.020.5
21.321.922.222.6
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
10.311.812.513.417.720.622.626.2
19.820.420.821.2
21.822.422.923.3
25.425.926.627.0
Non-agricul-
turalpersonalincome3
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
385.2400.0425.5448.1480.9519.5566.3609.7667.9725.1
595.8602.5614.5625.8
644.1660.4675.7691.2
703.7718.2733.9744.7
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.
197
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-18.—Sources and uses of gross saving, 1929-69
[Billions of dollars]
Year or quarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946 .194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969*
1967: L_ _ ._._IIIIIIV
1968: LIIIIIIV
1969: 1IIIIIIV v
Gross
Total
16.3
11.85 1.8.9
3.26.67.2
11.97.08.8
13.618.610.75.52.55.2
35.142.049 935.9
50.456.149.547.548.564 872.771.259.273.8
77.575.585.090.5
101.0115.3124.9119.2128.4145.2
private saving and government surplus ornational income and product accounts
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
102.4113.1123.8133.7135.1136.2
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
17.021.221.619.926.228.432.540.438.437.6
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
56.858.766.368.876.284.791.393.396.798.6
deficit,
Government surplusor deficit ( - )
Total
1.0
-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 . 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
-14 .5- 6 . 7
9.0
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
- . 2-12.7- 5 . 2
9.7
Stateandlocal
- 0 . 2
- . 6- . 8- . 3
~!5.6.5.7.4
(2)
.61.31.82.52.72.61.91.0.1
- . 7
-1 .2- . 4(3 )
1-1 .1-1 .3- . 9
-1 .4-2 .3- . 8
.2- . 5
.91.21.71.01.3
-1 .8-1 .5
Gross investment
Total
17.0
11.05 81 i1.63.86.48.4
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
112.2123.9118.3125.9139.0
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
54.159.351.952.651.767 470.067.860.975.3
74.871.783.087.194.0
108.1121.4116.0126.3139.6
Netforeigninvest-ment i
0.8
.722
.2
.4- . 1- . 1
11.1.9
1 51 l
- . 2-2 .2—2 1- 1 4
4.68.91 9.5
-2 .2.2
- 3-2 .1- . 5- 51.53.4
- . 2-2 .3
1.73.02.53.15.74.12.42.2
- . 3- . 6
Statis-ticaldis-
crep-ancy
0.7
- . 873
.6
.5- . 21.2
*.6
1.3
1 04
-1 .1-2 .0
2 53 9.1.9
—2 0.3
1.53 32 23 02.72 1
- 1 1
1.6- . 8
-1 .0— 8
-*3-1 .3- 3 1-1 .0-1 .0-2 .5-6 .2
Seasonally adjusted annual rates
117.5113.6119.9125.6
120.5128.8129.1135.4
138.4142.7150 2
131.6129.6134.5139.0
132.0139.6132.6136.3
130.2131.3142.8
40.037.740.743.1
39.942.333.238.0
32.533.343.141.6
91.691.993.895.9
92.197.299.398.3
97.798.099.7
-14.1-16 .0-14.6-13 .4
-11 .5-10 .8- 3 . 5- . 9
8.311.47.4
-12 .0-13 .2-13 .4-12 .3
- 8 . 4- 9 . 5- 2 . 8- . 1
10.113.57.7
-2 .1-2 .8-1 .3-1 .0
-3 .1-1 .3- . 7- . 8
-1 .8-2 .1
2
116.3112.0120.0124.5
118.7127.2125.8132.0
134.2136.2143 3142.3
113.6109.4117.7123.3
119.4126.6125.2133.9
135.2137.4143.3142.4
2.72.52.31.3
- . 7.6.6
-1 .9
-1 .0-1 .2
.0- . 1
-1 .2-1 .7
.1-1 .1
-1 .8-1 .6- 3 . 3-3 .4
-4 .2-6 .5-6 .9
1 Net exports of goods and services less net transfers to foreigners.2 Surplus of $32 million.3 Deficit of $41 million.
Note.—Corporate profits tax and related items for 1969 reflect repeal of investment tax credit.
Source: Department of Commerce, Office of Business Economics.
198
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-19.—Saving by individuals, 1946-69 *
[Billions of dollars]
Year orquarter
1946194719481949
1950195119521953195419551956195719581959
196019611962196319641965196619671968
1967" 1I I . . .III. .IV...
1968: l . . ._I I . . .III . .IV...
1969: I . . . .I I . . .III . .
Total
25.420.723.919.2
27.330.326.329.927.933.734.933.532.333.2
28.930.937.337.745.052.554.561.759.9
14.47.2
19.220.3
16.34.7
18.518.1
16.25.1
20.8
Increase in financial assets
Total 2
18.413.39.2
10.0
13.718.021.922.122.328.028.828.131.035.0
28.334.339.343.751.356.052.866.766.6
11.812.320.721.1
13.511.019.819.3
14.49.8
21.2
Cur-
de-mandde-
posits
4.8- . 5
- 2 . 5- 1 . 9
2.24.61.7.5
1.8.8
1.2- . 53.2
.5
- 1 . 4.7
Z- 94*36.57.33.1
10.210.7
- 1 . 12.03.76.9
- 5 . 0*
6.25.7
- 4 . 62.53.8
Sav-ingsac-
ounts
6.33.42.32.6
2.54.57.78.39.28.89.5
12.114.011.4
12.417.423.423.023.926.419.132.527.7
9.010.08.05.5
8.15.76.37.7
7.52.9
- 2 . 1
Securities
Gov-ern-ment
bonds3
- 1 . 12.31.21.8
.3- . 51.42.41.05.93.41.9
- 1 . 57.9
2.9.7.8
4.34.24.47.8
- . 66.9
- 1 . 5- 4 . 7
3.6.5
3.9- . 83.2
.7
5.7- 1 . 012.3
Corpo-rateandfor-eign
bonds
- 0 . 9- . 8- . 2- . 4
- . 8- . 2- . 1
- . 41.1.9
1.0.7.6
*.4
5- ! 6- . 5
.82.04.64.0
.7
.61.31.5
.61.6.9
1.3
.9
.82.5
Corpo-rate
stock4
1.11.11.0.8
.7
1 6!9.7
1.12.01.51.5.6
- . 4.4
2 0- 2 ! 7- . 1
- 1 . 9- 1 . 0- 4 . 9- 7 . 7
- . 8- 2 . 2- 1 . 6- . 2
.7- 2 . 4- 2 . 6- 3 . 3
.3- 2 . 2- 1 . 2
Insur-anceandpen-sionre-
serves(°5.35.35.25.5
6.96.27.77.97.98.49.69.5
10.011.4
11.612.212.813.915.217.118.120.119.3
4.45.75.05.0
4.35.44.85.0
4.15.95.1
Net investment in
Non-farm
homes
4.87.9
11.210.1
15.213.913.414.014.818.416.714.514.118.2
15.814.516.517.517.717.516.014.319.2
2.62.84.34.7
4.04.35.35.4
4.74.85.3
Con-sumer
du-rables
5.87.57.17.0
10.25.53.66.44.99.95.94.9.6
5.5
5.12.96.78.9
11.214.815.212.416.9
.83.82.15.7
1.74.43.37.5
2.25.02.8
Non-cor-po-rate
busi-ness
assets
2.72.26.61.4
4.94.31.91.11.62.71.61.61.91.4
.8
.61.82.11.03.42.72.01.3
.8
.6
.3
.2
.9
.7- . 3
*
.4
.42
Less
Mort-gagedebton
non-farm
homes
4.14.74.94.2
7.56.87.07.69.0
12.311.08.79.1
12.6
10.511.012.714.915.815.311.811.115.0
1.62.03.44.0
3.53.53.74.3
3.74.14.1
Increase indebt
Con-sumercredit
2.73.22.82.9
4 11.24.83.91.16.43.52.6.2
6.4
4.61.85.87.98.5
10.07.24.6
11.1
- 2 32.11.33.5
- 1 . 23.63.05.6
- 1 . 24.01.6
Otherdebt9
- 0 . 42.32.72.2
5.13.22.72.25.76.73.74.36.07.8
6.08.68 4
11.611.913.913.118.118.0
? 28.13.63.9
1.58.52.84.3
3.06.72.6
1 Individuals'saving sector includes households, private trust funds, nonprofit institutions, farms, and other noncorporatebusinesses. Revisions in account structure and estimation procedure are reflected in these data.
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.Sources: Securities and Exchange Commission and Board of Governors of the Federal Reserve System.
199
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-20.—Number and money income (in 1968 prices) of families and unrelated individuals,by race of heady 1947-68
Year
FAMIUES:i1947—19481949 .
1950...195119521953-1954...195519561957...19581959
1960196119621963—1964 . . . .19651966.
19662 _1967 219682
UNRELATEDINDIVIDUALS^194719481949
1950...19511952...1953 .1954195519561957—19581959
1960196119621963196419651966
1966 21967 21968 2
Total
Totalnum-ber
(mil-lions)
37.238.639 3
39.940.640 841 242.042.9.43.543.744.245.1
45.546 347.047.447.848 348.9
49.149.850.5
8.28.49 0
9.49 19.79.59.79.99.8
10.410.910 9
11.111.211.011.212.112.112.4
12 313.113.8
Medianincome
$4,7164,6134,537
4,8044,9655,1055,5245,4025,7446,1206,1316,1206,472
6,6046 6716,8517,1017,3677 6667,971
8,0408,3188,632
1,5381,4631,532
1,5121 5981,8531,8221,5851,7181,8351,8821,8441 891
2,0212,0412 0172,0522,2352,3842,438
2,4912,786
With incomesunder $3,000
Num-ber
(mil-lions)
9.710.311 0
10.49.99 49.09.89.08.38.58.68.1
8.18 37.87.57.16 86.4
6.25.95.2
Per-cent
26.026.728 0
26.124.323.121.923.420.919.119.419.418.0
17.918 016.7
"15.814.914 113.0
12.711.810.3
With incomesunder $1,500
Num-ber
(mil-lions)
4.04.34.5
4.74 44.24.34.74.54.34.54.84 6
4.54.54 34.34.54.14.1
4.34.0
Per-cent
49.351.149.6
49.848 643.745.248.645.944.242.943.642 5
40.940.038.838.336.933.933.3
32.828.8
White
Totalnum-ber
(mil-lions)
34.135.3
38.239.039.539.740.240.9
41.141 942.442.743.143 544.0
44.144.845.4
7.27.3
8.28.58.58.99.29.3
9.69.69.59.7
10.410.510.8
10 711.312.0
Medianincome
$4,9164,7904,718
4,9855,1735,4025,7335,6295,9916,4046,3796,3776,742
6,8576,9577,1707,4437,6917 9958,290
8,3668,6258,937
1,6341,5241,654
1,6131,6821,9921,9231,7101,8301,8871,9811,9401,991
2,1872,2032,1742,1662,3542,4782,536
2,6072,952
With incomesunder $3,000
Num-ber
(mil-lions)
7.88.4
8.07.26.56.76.76.3
6.46 46.05.75.55 35.0
4.84.64.0
Per-cent
22.823.525.2
23.421.220.019.420.918.416.416.616.615.5
15.515.314.413.513.112 111.3
11.010.28.9
With incomesunder $1,500
Num-ber
(mil-lions)
3.43.6
3.83.73.63.73.93.7
3.73.63.53.53.73.43.4
3.63.3
Per-cent
47.949.647.7
48.447.642.044.146.544.043.041.041.840.0
38.637.736.636.535.232.632.0
31.427.2
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
5.05.05.1
1.01.1
1.51.41.31.51.61.6
1.51.61.51.51.61.71.6
1.61.81.8
Medianincome
$2,5142,5592 414
2,7042,7253,0643,2293,1263,3203,3803,4213,2703,482
3,7943 7093,8253,9404,3034 4194,945
4,9945,3525,590
1,1631,1481,205
1,1901 2991,3891,5041,1841,2641,4481,3541,3451,351
1,3321,3701,4461,4751,6631,8471,866
1,9171,999
With incomesunder $3,000
Num-ber
(mil-lions)
1.91.9
1.81.81.81.81.91.8
1.71 91.81.81.61.51.4
1.41.31.2
Per-cent
60.058.060.8
55.454.948.846.448.445.744.444.946.843.8
40.541.238.337.432.831.427.8
27.625.922.8
With incomesunder $1,500
Num-ber
(mil-lions)
0.6.7
.9
.8
.7
.8
.9
.9
.8
.9
.8
.8
.8
.7
.7
.7
.7
Per-cent
59.862.160.3
59.055.153.549.959.957.251.554.754.754.2
55.254.051.850.747.042.842.8
41.639.5
1 The term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residing to-gether; 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.
200
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
POPULATION, EMPLOYMENT, WAGES, ANDPRODUCTIVITY
TABLE G-21.—Population by age groups: Estimates, 1929-69, and projections, 1970-85l
[Thousands of persons]
July 1
Estimates:1929
1930.19311932..1933.11934
19351936193719381939
19401941194219431944
1945.1946194719481949
19501951195219531954
19551956195719581959
1960...19611962.1963..1964
19651966.19671968.//19694
Projections:1
1970: Series CSeries D
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,?50128,053128,825129,825130,880
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
194,592196,92fr<|>7199,11-8-201,1^6^203,216
206,039204,923
219,366215,367
235,212227,665
252,871241,731
Age (years) 7Under 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
20,40419,81119,19118,52117,960
18,74017,625
21,21118,323
24,29820,736
26,64523,030
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
42,96343,82244,48844,97745,260
\ 45,273
43,83642,726
44,36040,376
49,94443,123
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
8,7448,9169,1959,543
10,215
10,69811,09311,25812,06112,819
13,56314,30414,16714,33814,655
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
13,67914,06315,19715,78816,484
} 15,087|/j 17,261
} 16,614
) 16,9401
15,213 i14,509 |
} 19,299
} 20,997
} 21,068
25-44
35,862
36,30936,65436,98837,31937,662
37,98738,28838,58938,95439,354
39,86840,38340, °6141,42042,016
42, 52143,02743,65744,28844,916
45,67246,10346,49546,78647,001
47,19447,37947,44047,33747,192
47,13447,06146,96846,93246,881
46,80746,85547,07747,61447,994
} 48,276
53,881
62,374
72,083
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
39,01539,60140,19440,76841,393
} 41,817
43,364
43,180
42,940
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
18,16218,46418,79619,12919,470
19,585
} 21,159
} 23,063
24,978
i Two 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, Current Population Reports, Series P-25, No. 381," December 1967.
Note.—Data for Armed Forces overseas included beginning 1940. Includes Alaska and Hawaii beginning 1950>>
Source: Department of Commerce, Bureau of the Census.
201
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TABLE G-22.—Noninstitutional population and the labor force, 1929-69
Year or month
Nonin-stitu-tionalpopu-lation
Totallaborforce
(includ-ing
ArmedForces)
ArmedForces
Civilian labor force
Total
Employment
TotalAgri-cul-tural
Non-agri-cul-tural
Unem-ploy-ment
Totallabor
force aspercentof non-institu-tionalpopu-lation
Unem-ploy-ment
as per-cent ofcivilian
laborforce
1929..
1930..1931..1932..1933..1934..
1935..1936..1937..1938..1939..
1940..1941..1942.1943.1944.
1945.1946.1947.
1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963.1964.
1965.1966.1967.1968.1969.
1968:Jan.. .Feb...Mar . .Apr...May..June..
July..Aug..Sept..Oct...Nov..Dec...
Thousands of persons 14 years of age and over Percent
100,380101,520102,610103,660104,630
105,530106,520107,608
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
5401,6203,9709,02011,410
11,4403,4501,590
49,180 47,630
49,82050,42051,00051,59052,230
52,87053,44054,00054,61055,230
55,64055,91056,41055,54054,630
53,86057,52060,168
45,48042,40038,94038,76040,890
42,26044,41046,30044,22045,750
47,52050,35053,75054,47053,960
52,82055,25057,812
10,450 37,180
10,34010,29010,17010,0909,900
10,11010,0009,8209,6909,610
9,5409,1009,2509,0808,950
8,5808,3208,256
35,14032,11028,77028,67030,990
32,15034,41036,48034,53036,140
37,98041,25044,50045,39045,010
44,24046,93049,557
1,550
4,3408,02012,06012,83011,340
10,6109,0307,70010,3909,480
8,1205,5602,6601,070
670
1,0402,2702,356
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
Thousands of persons 16 years of age and over Percent
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
134,576134,744134.904135,059135,249135,440
135,639135,839136,036136,221136,420136,619
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
79,81180,86980,93881,14181,77084,454
84,55083,79282,13782,47782,70282,618
1,5911,4591,617
1,6503,1003,5923,5453,350
3,0492,8572,8002,6362,552
2,5142,5722,8282,7382,739
2,7233,1233,4463,5353,506
3,4643,4673,4913,5073,5363,567
3,5863,5893,5913,6033,5173,500
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
76,34777,40277,44777,63478,23480,887
80,96480,20378,54678,874
! 79,18579,118
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
73,27374,11474,51775,14375,93177,273
77,74677,43275,93976,36476,60976,700
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
3,3663,4623,5373,8513,9964,516
4,4764,1073,8363,7673,6073,279
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
69,90870,65370,98071,29271,93572,757
73,27073,32572,10372,59673,00173,421
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
3,0743,2882,9292,4912,3033,614
3,2172,7722,6062,5112,5772,419
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
59.360.060.060.160.562.4
62.361.760.460.560.660.5
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
4.04.23.83.22.94.5
4.03.53.33.23.33.1
See footnotes at end of table.
202
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TABLE G-22.—Noninstitutional population and the labor force, 1929-69—Continued
Year or month
1969:Jan..Feb.Mar_Apr-May.June
July.Aug.Sept.Oct.Nov.Dec.
1968:Jan.. .Feb...Mar . .Apr.. .May. .June..
July._Aug. .Sept..Oct. . .Nov..Dec...
1969: Jan...Feb. .Mar__Apr . .May._June.
Ju ly -Aug__Sept..Oct...Nov._D e c .
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
136,802136,940137,143137,337137,549137,737
137,935138,127138,317138,539138,732138,928
81,71182,57982,77083,13783,08585,880
86,31886,04684,52785, 03884,92084,856
3,4773,4753,5043,5163,5223,524
3,5213,5303,5433,5283,4933,440
78,23479,10479,26679,62179, 56382,356
82,79782.51680,98481,51081,42781,416
75,35876,18176, 52077,07977,26478,956
79,61679,64678,02678,67178,71678,788
3,1653,2853,3273,6073,8944,367
4,1553,9773,6293,5613,3222,984
72,19272,89673,19373,47173,37074, 589
75,46075,66974,39775,11075,39575,805
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
Seasonally adjusted
81,34482,03582,13781,93382,27882,486
82,50482,33882,43882,40382,55982,868
83,35183,83183,99983,96683,59383,957
84,27784,58484,90285,01484,78885,029
77,88178, 56978,64578,42778,74278,919
78,91778,74978,84778,80079,04279,368
79,87480,35680,49580,45080,07180,433
80,75681,05481,35981,48681,29581,589
75, 08675,64075,76475,65375,93276,005
76, 02075,97376,00076, 00276,38876,765
77,22977,72977,76777,60577,26577,671
77,87478,18778,12778,32578,49778,779
3,9624,0743,9783,9163,9053,849
3,8253,7513,6513,5253,7063,842
3,7523,8813,7323,6643,8053,705
3,5513,6343,4583,3323,4293,505
71,12471,56671,78671,73772,02772,156
72,19572,22272,34972,47772,68272,923
73,47773,84874,03573,94173,46073,966
74,32374,55374,66974,99375,06875,274
2,7952,9292,8812,7742,8102,914
2,8972,7762,8472,7982,6542,603
2,6452,6272,7282,8452,8062,762
2,8822,8673,2323,1612,7982,810
Percent
59.760.360.460.560.462.4
62.662.361.161.461.261.1
3.73.73.53.22.94.1
3.83.53.73.53.33.2
3.63.73.73.53.63.7
3.73.53.63.63.43.3
3.33.33.43.53.53.4
3.63.54.03.93.43.4
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 datacomparability with other series, etc., see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
203
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TABLE C-23.—Civilian employment and unemployment, by sex and age, 1947-69
[Thousands of persons 16 years of age and over]
Year ormonth
Employment
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
Unemployment
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
1947. . . .19481949
1950.1951.1952..1953.1954..
1955.1956.1957.1958.1959.
57,039 40,99458,344 41,72657,649 40,926
58,920 41,58059,962141,78060,254 41,68461,181 42,43160,110 41,620
62,17142,62163,802143,380
2,218 38,776 16,0452,34539,382 16,6182,124 38,803 16,723
64,071 43,35763,036 42,42364,630 43,466
1960 \§5J7S 43,9041961 d65774is}43,6561962 1667702144,1771963 67,762 44,6571964 69,305|45,474
2,186 39,2,156 39,2,106 39,2,135 40,1,985 39,
2,095 40,2,164 412,117 412,012 40;2,198 41
1965 71,088 46,3401966 172,89546,9191967 ,74,372' 47,4791968 ^ 9 2 0 48,1141969 4^902,48,818
1,6911,683 14;1,588
14,354 2,311 1,69214,937 2,276 1,55915,137 3,637 2,572
1,394 17,3401,626 18,1821,578 18,5701,296 18,7501,634 18,490
1,526 19,550,216 20,422,239120,7141,411,20,613,267 21,164
517 15,824 3,288 2,23916,570! 2,055 1,221
612 16,958; 1,883! 1,18517,164 1,834 1,20217,000 3,532 2,344
1968:Jan.Feb.Mar.Apr.Vlay.June.
AprMay
July..Aug...Sept..Oct. . .Nov.-Dec...
1969:Jan...Feb...M a r -Apr...May..June..
July..Aug...Sept..Oct...Nov...Dec...
75,086 47,75275,640 47,98675,764 48,03475,653 48,05875,932 48,07376,005 48,102
76,020 48,162
2,360 41,543 2;" " * U l , 3 4 2 r. 141,815 .
J, 406 42,251 23,1052,587 42,886 23,831
2,918 43,422 24,7483,252 43,667 25,9763,186 44,293126,8933,254 44,859l27^J073'430|45v
548 18,002654 18,767663 19,052570 19,043640 19,524
1,769 20,105* — 20,296
20,693849 21,257929 21,903
2,118 22,6302,469 23,5072,496 24,3972,525! 25,281
) 2,687 26,397
2,8522,7502.8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,831
1,8541,7111,8413,0982,420
2,4862,9972,4232,4722,205
1,9141,5511,5081,4191,403
270255352
318191205184310
274269299416398
425479407500487
479432448427441
1,4221,3052,219
1,9221,029980
1,0192,035
1,5801,4421,5412,6812,022
2,0602,5182,0161,9711,718
1,4351,1191,060993963
619717
1,065
1,049834698632
1,188
998,039,018,504,320
,366,717,4881,5981,581
1,4521,3241,4681,3971,428
Seasonally adjusted
75,973 48,20376,000 48,12076,002 48,03076,388 48,23576,765 48,579
77,229 48,68677,729 48,87577,767 48, —77,605 48,77,265 48,77,671
,9191,766,609
48,653
77,874 48,63877,187 48,86478,127 48,93978,325 48,82578,497 49,03678,779 49,111
3,064 44,688 27,3343,216 44,770 27,6543,257 44,777 27,7303,278 44,780 27,5953,286 44,787 27,8593,24144,86127,903
3,249 44,913 27,858. 27,770
3,262 44,858 27,8803,257 44,773 27,9723,295 44,940 28,1533,325 45,254 28,186
28,5433,455 45,231 ,3,453 45,422 28 , , .3,497 45,422 28,8483,48145,285 28,8393,382 45,227 28,6563,393 45,
3,345 45,293 29,2363,313 45,55129,3233,497 45,442 29,1883,401 45,424 29,5003,549 45,487 29,4753,502 45,609 29,670
2,558 24,7762,615 25,0392,603 25,1272,567 25, 0282,578 25,2812,592 25,311
2,517 25,3412,530 25,2402,505 25,3752,477 25,4952,45125,7022,384 25,802
2,544 25,9992,590 26,2642,620 26,2282,670:26,1692,610 26,0462,767 26,251
2,73126,5052,701 26,6222,669 26,5192,789 26,7112,780 26,6952,738 26,932
144152223
195145140123191
176209197262256
286349313383386
395404390412412
475564841
854689559510997
823832821
1,2421,063
1,3681,1751,2161,195
1,056919
1,078985
1,015
2,7952,9292,8812,7742,8102,914
2,8972,7762,8472,7982,6542,603
2,6452,6272,7282,8452,8062,762
2,8822,8673,2323,1612,7982,810
1,4561,4911,4591,3851,3821,498
L,434[,3881,4061,4411,3511,276
1,3611,2831,3301,3561,3601,341
1,4851,3701,6081,6011.4611,448
417438441406399456
431403401432420437
461425455446416395
456414482473459437
1,0391,0531,018979983
1,042
1,003985
1,0051,009931839
900858875910944946
1,029956
1,1261,1281,0021,011
1,3391,4381,4221,3891,4281,416
1,4631,3881,4411,3571,3031,327
1,2841,3441,3981,4891,4461,421
1,3971,4971,6241,5601,3371,362
320412437421450442
450412422372375392
333378437453443410
391442457454372402
1,0191,026985968978974
1,013976
1,019985928935
951966961
1,0361,0031,011
1,0061,0551,1671,106
965960
Note—See Note, Table C-22.
Source: Department of Labor, Bureau of Labor Statistics.
204
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TABLE C-24.—Selected unemployment rates, 1948-69
[Percent]
Year or month
1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
1965.1966.1967.19681969.
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.
Allwork-
ers
3.85.9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.75.55.7:5
3.83.83.63.5
By sex and age
Bothsexes,16-19years
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
Men,20
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
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
By color
White
3 55.64.93.12.82.75.0
3.93.63.86.14.8
4.96.04.95.04.6
4.13.43.43.23.1
Negroand
otherraces
5.9
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
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
Mar-ried
men*
3.5
4.61.51.41.74.0
2.62.32.85.13.6
3.74.63.63.42.8
2.41.91.81.61.5
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
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
Laborforce
time lost*
Seasonally adjusted
3.63.73.73.53.63.7
3.73.53.63.63.43.3
3.33.33.43.53.53.4
3.63.54.03.93.43.4
11.612.713.012.412.613.3
13.312.312.512.312.212.7
11.711.712.712.812.511.6
12.212.513.213.011.611.9
2.32.32.22.12.12.3
2.22.12,22.22.01.8
2.01.91.92.02.02.0
2.22.12.42.42.22.2
4.03.93.83.73.73.7
3.83.73.93.73.53.5
3.53.53.53.83.73.7
3.73.84.24.03.53.4
3.23.33.23.13.23.3
3.33.23.23.13.03.0
3.02.93.13.13.13.0
3.23.23.63.53.13.2
6.67.16.96.86.57.1
6.86.46.67.36.56.0
6.05.76.06.96.57.0
6.46.56.86.96.25.5
3.43.53.43.33.23.5
3.53.33.43.33.23.1
3.13.03.13.23.13.2
3.53.53.83.63.33.3
1.71.71.71.61.61.7
1.61.61.61.61.61.4
1.41.41.41.51.51.5
1.61.51.71.71.51.6
3.33.33.23.13.13.2
3.33.13.03.03.02.7
2.92.82.93.23.13.1
3.13.13.43.23.03.1
4.34.44.44.03.84.1
4.34.24.14.03.93.6
3.83.63.74.13.83.7
3.83.84.44.34.24.3
5.15.38.16.6
6.78.06.76.45.8
5.04.24.24.03.9
4.14.24.03.83.74.1
4.24.04.03.93.83.6
3.63.63.73.73.53.9
4.14.14.44.44.03.8
* 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.
372-111 O—70205
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TABLE G-25.— Unemployment by duration, 1947-69
Year or month
194719481949
19501951195219531954 . . . .
19551956195719581959
1960 '._196119621963 _ . .1964 . .
19651966196719681969 . _ _ __..
1968:Jan. „ .FebMarAprMayJune _ _ _ _ _ _ _ __ _
JulyAug _ _ _SeptOctNovDec
1969:JanFeb. - ._ _ _MarApr __ _ ___ __MayJune _ _ _ _ _ _ _ _ _ _ _
July. . _AugSeptoct : : : _ : : : _ _ _ _ : _ _NovDec
Total un-employ-
ment
Duration of unemployment
Less than5 weeks
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
1,2101,3001,756
1,4501,1771,1351,1421,605
1,3351,4121,4081,7531,585
1,7191,8061,6591,7511,697
1,6281,5351,6351,5941,629
704669
1,194
1,055574516482
1,116
815805891
1,3961,114
1,1761,3761,1341,2311,117
983804893810829
234193427
425166148132495
367301321785469
502728534535490
404295271256242
164111256
3571378478
317
336232239667571
454804585553482
351241177156133
Seasonally adjustedl
2,7952,9292,8812,7742,8102,914
2,8972,7762,8472,7982,6542,603
2,6452,6272,7282,8452,8062,762
2,8822,8673,2323,1612,7982,810
1,3801,7071,7031,5421,6811,701
1,6571,6291,6311,5421,5761,363
1,4761,4361,6461,7241,7771,591
1,6771,6361,8181,8571,5641,436
855808768829711830
844765811892785825
741829757737629813
830861
1,000948910910
290285111244278260
295238235253221177
193237237254278258
244244233240244262
181168177158140163
175162138128127145
123109118139131125
175138156130140120
I Because of independent seasonal adjustment of the various series, detail will not necessarily add to totals.
Note.—See Note, Table C-22.
Source: Department of Labor, Bureau of Labor Statistics.
206
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T A B L E
Year or month
19401941 .- .1942194319441945 . . .1946194719481949
195019511952195319541955195619571958...1959
1960196119621963196419651966196719681969 p
1968: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1969: Jan. . . . . .FebMarAprMayJune.. .
JulyAugSeptOctNov p.-Dec p
C-26.— Unemployment
All programs
Cov-eredem-ploy-
ment1
Insuredunem-ploy-ment
(weeklyaver-
age) 2 s
Thousands
24,29128,13630,81932,41931,71430,08731,85633,87634,64633,098
34,30836,33437,00638,07236,62240,01842,75143,43644,41145,728
46,33446,26647,77648,43449,63751,58054,73956,342
P57,969
55,74755,95656,41957,15757,67658,771
P58,833P59,179P59,036P58 738P58,865s 59,249
1 331842661149111720
2,8041,7931,4462,474
1,6051,0001,0691,0672,0511,3991,3231,5713,2692,099
2,0712,9941,946
U,9731,7531,4501,1291,2701 1871,175
1,7191,6531,4801,2161,026
944
1 0581,024
868862985
1,2531,5851,5511 3851 163
970912
1 0891 016
903930
1,1061,449
Totalbenefits
paid(mil-lions
of dol-lars) 2 4
534 7358.8350.480.567.2
574.92,878. 51,785.51,328 72,269.8
1,467.6862.9
1,043 51,050.62,291.81,560.21,540.61,913.04,290.62,854.3
3,022.84,358.13,145.13,025.92,749.22 360 41,890.92,220.02 191 32,265.0
264 8259.4247.5207.2170.2139.3
156 9162.8133.4138 7134.8185.4
264.6250.8242 6214.9164.9145.7
171 8169 7148.3153.8147.7208.5
insurance programs, selected data, 1940-69
State programs
Insuredunem-ploy-
ment3
Initialclaims
Ex-haus-tions »
Weekly average, thousands
1 282814649147105589
1,295997980
1,973
1,513969
1,044990
1,8701,2651,2151,4462,5261,684
1,9082,2901,783
n , 8 0 61,6051 3281,0611,2051 1111,098
1,6241,5561,3901,142
964883
991955802794913
1,172
1,4911,4591,3001 090
906852
1 021948840864
1,0301,378
2141641223629
116189187200340
236208215218304226111270369277
331350302
7 297268232203226201197
316227183183156157
240174141154189261
275219173167144162
246172146167213289
503021425
38242037
36161815342520235033
31463230262115171615
181819201817
151513141314
161717191717
151413131213
Insured unem-ployment as per-cent of covered
employment
Unad-justed
Season-ally ad-justed
Percent
5 63.02.2.54
2.14.33.13 06.2
4.62.82 92.85.23.53 23.66.44.4
4.85.64.44.33>83 02 32.52 22.2
3.33.22.82.32.01.8
2.01.91.61 61.82.3
3.02.92.62.21.81.7
2.01.81.61.62.02.7
2.32.32.32.22.22.2
2 22.22.22 12.12.1
2.12.12 12.02.02.1
2.22.22.22.22.32.3
Benefits paid
Total(mil-
lions ofdol-
lars) 4
518.7344.3344.179.662.4
445.91,094.9
775.1789.9
1,736.0
1,373.1840.4998.2962.2
2,026.91,350.31,380.71,733.93,512.72,279.0
2,726.73,422.72,675.42,774.72,522.12 166.01,771.32,101.02 031 92,099. 5
248.5243.7231.1195.1159.1129.1
145.6150.0121.8126.0122.5170.3
246.1234.2226.5200.1153.0135.0
159.2156.7136.2140.9134.7194.8
Aver-age
weeklycheck(dol-lars) •
10.5611.0612.6613.8415.9018.7718.5017.8319.0320,48
20.7621.0922.7923.5824.9325.0427.0228.1730.5830.41
32.8733.8034.5635.2735.9237.1939.7541.2543 4346.10
42.6043.5843.6443.1242.4242.26
42.3943.7343.7844.3744.7245.34
46.1646.8046.7046.0345.1444.88
45.3046.1645.7046.1746.9147.25
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.* Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual data are net
amounts and monthly data are gross amounts.8 Individuals receiving final payments in benefit year.8 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.1 Preliminary; December 1968 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.
207
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TABLE C-27.—Wage and salary workers in nonagricultural establishments, 1929-69
[All employees; thousands of persons]
Year ormonth
1929
19301931193219331934
19351936193719381939
1940 . . . .1941194219431944
1945 . . . . . . . .1946194719481949
1950. .195119521953 ._1954
1955.... . .1956195719581959
19601961.. . .196219631964
19651966 . .196719681969 v
Totalwageand
salarywork-
ers
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
60,81563,95565,85767,86070,139
Manufacturing
Total
10,702
9,5628,1706,9317 3978,501
9,0699,827
10,7949,440
10,278
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
18,06219,21419,44719,76820,121
Dura-ble
goods
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
10,40611,28411,43911,62411,881
Non-dura-ble
goods
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
7,6567,9308,0088,1448,240
Min-ing
1,087
1,009873731744883
897946
1,015891854
925957992925892
836862955994930
901929898866791
792822828751732
712672650635634
632627613610628
Con-tractcon-
struc-tion
1,497
1,3721,214
970809862
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
3,1863,2753,2083,2673,410
Trans-porta-tionandpub-lic
utili-ties
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
4,0364,1514,2614,3134,449
Whole-saleand
retailtrade
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
9,3869,742
10,00410,24710,235
10,53510,85810,88610,75011,127
11,39111,33711,56611,77812,160
12,71613,24513,60614,08114,644
Fi-nance,insur-ance,andreal
estate
1,509
1,4751,4071,3411 2951̂ 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
3,0233,1003,2253,3833,558
Serv-ices
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
9,0879,551
10,09910, 59211,102
Government
Fed-eral
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
2,3782,5642,7192,7372,756
Stateandlocal
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
7,6968,2278,6799,1099,471
See footnotes at end of table.
208
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TABLE C-27.—Wage and salary workers in nonagricultural establishments,1929-69—Continued
[All employees; thousands of persons}
Year ormonth
1967: Jan. . .Feb...Mar...Apr...May..June..
July. .Aug...Sept..Oct.. .Nov...Dec...
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 p_Dec v.
Totalwageand
salarywork-
ers
Manufacturing
TotalDura-
blegoods
Non-dura-
blegoods
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
Seasonally adjusted
65,34265,37965,45965,46965,56365,747
65,79966, 01666, 00366, 08366,60066,734
66, 72067,16567,28667,46667,55067,816
67,94568, 08868,19568,42768,66468, 875
69,19969,48769,71069, 78970,01370,300
70,24770,50070, 39070,65170,65370,639
19,61619,56219,50419,43119,36219,364
19,30719,43719,33519,32919, 54619, 582
19,61719,62719,63119,70219,73719, 790
19,80419,80019, 82019, 84019,89719, 958
19,99920, 06120,12220,11120,11820,198
20,16420,33420,19720,15620,01819,988
11,56011,54111,50011,42711,40711,391
11,35611,47111,32111,29711,49711,513
11,55711,53811,53611,59011,60611,620
11,66611,63411,64611,64911,70011,744
11,81911,83911,88111,86811,87411,931
11,91212,08111,96511,93211,75811,732
8,0568,0218,0048,0047,9557,973
7,9517,9668,0148,0328,0498,069
8,0608,0898,0958,1128,1318,170
8,1388,1668,1748,1918,1978,214
8,1808,2228,2418,2438,2448,267
8,2528,2538,2328,2248,2608,256
628626626622619618
621606601598597598
596599600617614615
619620622573622623
626628626624622622
629631631631632636
3,2373,2133,2053,1923,1753,192
3,2033,2003,1993,2083,2423,243
3,0753,2653,2693,2723,2663,267
3,2683,2723,2863,3053,3133,330
3,3383,3663,3743, 363 .3,4073,466
3,4343,4103,4203,4183,4603,446
4,2474,2454,2554,2204,2724,274
4,2864,2684,2644,2514,2774,275
4,2804,2974,2994,2984,2504,300
4,3154,3274,3334,3414,3524,360
4,3534,3734,3994,4394,4444,467
4,4834,4844,4804,4804,4884,493
13,45713,46113,48413,52413,55713,584
13,61513,64213,68713,69513,77713,781
13,78613,89013,93813,98414,01714, 057
14,09314,15414,19814,26514,29114,271
14,41214,46814, 50814,53314,60914,665
14,67114, 70214,71614,80914,82314,785
Stateandlocal
3,1463,1593,1723,1873,2023,225
3,2313,2523,2643,2713,2883,304
3,3143,3273,3363,3483,3593,363
3,3763,3993,4143,4333,4533,463
3,4903,5023,5153,5313,5413,557
3,5683,5813,5863,5953,6103,615
9,8399,8889,9469,98710,02610,067
10,11610,16110,20710,25010,33010,370
10,39810,46510,49010,48810,51010,554
10, 58210,62510,63510,72110,78710,838
10,90010,96711,03411,04411,06511,066
11,06711,12011,15011,24411,26511,288
2,6672,6792,6912,6942,7042,728
2,7352,7352,7212,7182,7192,719
2,7212,7242,7212,7232,7242,774
2,7792,7432,7212,7082,7092,724
2,7602,7672,7592,7582,7542,790
2,7772,7522,7492,7292,7212,713
8,5058,5468,5768,6128,6468,695
8,6858,7158,7258,7638,8248,862
8,9338,9719,0029,0349,0739,096
9,1099,1489,1669,2419,2409,308
9,3219,3559,3739,3869,4539,469
9,4549,4869,4619,5899,6369,675
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.
209
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TABLE C-28.—Average
Year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 .1966196719681969 v
1968:JanFebMarAprMayJune _JulyAugSept .Oct...NovDec
1969:JanFebMar-AprMay..JuneJulvAugSeptOctNov pDec p
Totalnon-agri-
culturalpri-
vate i
40.340.039.439.839.939.939.639.139.639.338.838.539.0
38.638.638.738.838.738.838.638.037.837.7
weekly hours of work
Manufacturing
Total
44.2
42.140.538.338.134.636.639.238.635.637.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.741.241.340.640.740.6
Durablegoods
32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.340.941.141.442.042.141.241.441.3
Non-durablegoods
41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.140.239.739.839.7
in selected nonagricultural industries, 1929-69
Con-tractcon-
struc-tion
38.238.137.737.438 138.937.937 237.137.537.036.837.036.736.937.037.337.237.437.637.737 438.0
Retailtrade
43.443.242.841.840.941.040.941.3
3 40.340.240.440.440 439.839.139 239.038.638.138.138.238.037.637.437.337.036.635.935.334 734.2
Whole-sale
trade
41.642 943 142 341.841 341.141.442 343.042.841 641.141.040.840.740 840.740.640 540.740.540.340.240.640.540 540 640 640 640 840 740.340 140.2
Seasonally adjusted
1 37.737.937.837.737.837.937.937.937.937.837.637.637.837.537.837.837.837.837.837.837.837.637 637.5
40.240.740.840.140.940.940.940.741.040.940.840.840.640.140.940.840.740.740.740.640.840.540 540.6
41.041.341.440.641.641.641.541.341.641.641.641.341.340.941.541.441.441.341.241.341.541.241.141.2
39.339.939.939.239.940.039.939.940.039.939.739.939.839.139.939.839.839.839.739.639.739.539.539.8
36.537.636.937.737.537.537.337.537.537.536.237.638.238.037.938.038.137.637.537.938.137.538.238.2
34.934.934.834.834.734.834.834.834.734.534.534.334.434.234.334.134.334.234.234.334.233.934.033.9
40.040.040.040.040.040.240.140.240.240.140.040.040.140.140.140.240.140.040.040.340.340.340.240.3
Bitumi-nouscoaland
lignitemining
38 1
33 328 127 029 326 826 228 527 723 326.827 830.732.436 343.042.041 340.337.732.334.734 933.834.132 337.337.536.333.335.835.835 9
<37 0*38 9*39 2MO 2M0 8M0.7*39 7
40.0
40.740.641.140.540.541.5
40.940.629.040.641.141.640.738.841.540.535.7
40.840.540.639.5
Class 1rail-roads
43.744 345.847.048 748.948.546 046.446.243.740.841 040.640.640 841.941.741.741.641.941.742 342 642 943 543 643 943.243 9
Tele-phonecom-muni-cation
38 838 939.139 540.140.541 942.3
a 41.739 437.439.238.538.939 138.538.738 939.639.539.038.439.239.639 439 940 040 240 440 639.339 740.4
Jnadjusted
44.344.042.744.345.043.044.743.742.944.543.943.844.745.343.044.344 543.5
39.239.139.138.638.139.940.239.940.640.641.539. S40.040.639.939.539.840.440.840.340.840.440.8
Mn addition to industries shown separately, total includes other mining; other transportation and public utilities;finance, insurance, and real estate; and services.
2 Nine-month average, April through December, because of new series started in April 1945.3 Beginning 1947, data include eating and drinking places.* Eleven-month average; excludes data for July.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. See TableC-31 for unadjusted weekly hours in manufacturing. See also Note, Table C-27.
Source: Department of Labor, Bureau of Labor Statistics.
210
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-29.—Average
Year or month
1929
19301931. .19321933193419351936193719381939
1940194119421943194419451946194719481949-
19501951195219531954....1955...1956195719581959
19601961196219631964196519661967 .19681969 v
1968: Jan... .Feb. . .Mar...AprM a y -June...
July...Aug...Sept...Oct....Nov .Dec . . .
1969: Jan. . . .Feb....Mar...AprMay...June...
July...Aug. . .Sept.Oct. . . .Nov *>._Decp...
Totalnon-
agricul-tural
private
$1,1311.2251.275
1.3351.451.521.611.651.711.801.891.952.02
2.092.142.222.282.362.452.562.682.853.04
2.762.782.792.802.832.84
2.852.852.902.912.922.92
2.942.962.972.983.013.03
3.043.053.103.113.123.11
IV
Total
$0. 560
.546
.509
.441
.437
.526
.544
.550
.617
.620
.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
2.942.942.962.972.993.00
3.002.993.043.063.083.11
3.123.123.133.153.163.17
3.193.193.243.243.263.28
lanufactu
Durablegoods
$0.492.467.550.571.580.667.679.691
.716
.799
.9371.0481.1051.0991.1441.2781.3951.453
1.5191.651.751.861.901.992.082.192.262.36
2.432.492.562.632.712.792.903.003.193.38
3.133.123.143.153.183.18
3.183.173.233.243.273.30
3.313.313.323.333.353.36
3.373.393.443.443.453.48
gross hourly earnings in
ing
Non-durablegoods
$0,412.419.505.520.519.566.572.571
.590
.627
.709
.787
.844
.886
.9951.1451.2501.295
1.3471.441.511.581.621.671.771.851.911.98
2.052.112.172.222.292.362.452.572.742.91
2.672.682.692.702.722.73
2.752.752.782.792.802.82
2.832.842.852.872.882.89
2.922.922.952.962.972.99
Con-tractcon-
struc-tion
$1,5411.7131.792
1.8632.022.132.282.392.452.572.712.822.93
3.083.203.313.413.553.703.894.114.404.77
4.364.294.304.294.344.31
4.364.404.494.524.544.55
4.584.564.624.644.714.71
4.744.794.914.954.954.99
Retailtrade
$0.484
.494
.518
.559
.606
.653
.699
.7974.838
.901
.951
.9831.061.091.161.201.251.301.371.421.47
1.521.561.631.681.751.821.912.012.162.30
2.092.112.122.132.142.16
2.162.162.192.202.222.21
2.242.262.262.272.292.30
2.302.302.332.352.362.33
selected industries, 1929-69
Whole-sale
trade
$0,610.628.658.674.688
.711
.763
.828
.898
.948
.9901.1071.2201.3081.360
1.4275?
.617076
.83
.942.022.092.18
2.242.312.372.452.522.612.732.883.053.23
2.963.003.013.023.043.04
3.043.043.093.083.113.12
3.123.163.163.183.203.24
3.233.243.2933.3
293334
Bitu-minous
coal andlignitemining
$0 659
.662
.626
.503
.485
.651
.720
.768
.828
.849
.858
.854
.9601.0301.1011.1471.1991.3571.5821.8351.877
1.9442.142.222.402.402.472.722.922.933.11
3.143.12
5 3.125 3.155 3. 305 3.495 3.665 3.755 3.86
4.17
3.823.793.793.773.783.82
3.783.803.794.134.14
4.124.124.114.16..4.18..4.09..
"4." 14"4.184.374.42
Classrail-
roads
$0,730
.733743837
.852
.948955
1 0871.1861.3011.427
1.5721.731.831.881.931.962.122.262.442.54
2.612.672.722.762.803 003.093.243 44
3.333.383.353.353.343.40
3.463.493.533.503.563.55
3.583.643.603.603.623.65
Tele-phonecom-
munication
$0 774.816.822
.827820843870
.9113 9621 1241.1971.2481.345
1.3981.491.591.681.761.821.861.952.052.18
2.262.372.482.562.622.702.792.883 043.24
2.902.902.912.892.963.05
3.043.063.143.163.193.17
3.173.203.163.173.223.22
3.223.243.303.283.31
Agri-cul-
tures
$0,241
226172129115129
.142152172
.166
.166
.169206268
.353
.423472515
.547
.580
.559
.561
.625
.661
.672
.661
.675
.705
.728
.757
.798
.818
.834
.856
.880
.904
.9511.031.121.211.33
1.24
T6iT
1.18
I.~27~
1.38
I.~2T
1.29
1.37
*• For coverage, see footnote 1, Table C-28.2 Weighted average of all farm wage rates on a per hour basis.3 Nine-month average, April through December, because of new series started in April 1945.* Beginning 1947, data include eating and drinking places.6 Eleven-month average; excludes data for July.Note—See Note, Tables C-27 and C-28.Sources: Department of Labor (Bureau of Labor Statistics) and Department of Agriculture.
211
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-30.—Average
Year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956..195719581959
1960196119621963196419651966196719681969 v
1968:JanFeb . . .MarAprMayJune
July.AugSept...OctNov.Dec. . .
1969:JanFebMarApr _M a y -June
JulyAugSeptOctNov p
Dec p
Totalnon-
agricul-turalpri-
vate i
$45. 5849.0050.24
53.1357.8660.65'63.7664.5267.7270.7473.3375.0878.78
80.6782.6085.9188.4691.3395.0698.82
101.84107.73114.61
103.22104. 53104.90104. 72106. 69108.20
108.87109.16110.49110.29109.50110.38
110.25110.11111.67111.75113.48115.14
115.82116 51117 80117.25117 00117.25
gross weekly earnings
Manufacturing
Total
$24.76
23.0020.6416.8916.6518.2019.9121.5623.8222.0723.64
24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88
58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26
89.7292.3496.5699.63
102.97107. 53112.34114.90122.51129.51
117.60119.36120.18118.21122.29123. 30
122.10121.69125.25125.77125.97127.82
126. 05124.80127. 39127. 58128.61129.65
129.20129 51132 84131.87132 36134.15
Dura-ble
goods
$26.84
24.4220.9815.9916.2018.5921.2423.7226.6123.7026.19
28.0733.5642.1748.7351.3848.3646.2251.7656.3657.25
62.4368.4872.6376.6376.1982.1985.2888.2689.2796.05
97.44100.35104.70108.09112.19117.18122.09123.60132.07139. 59
127. 70128. 54129.68127.26132.29132. 92
131.02130.29135.01135.43136.36137.61
136.04135.05137.45137.20138.69139.44
137. 83139 33143.45142.42142 14144.77
Non-durabiegoods
$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
80.3682.9285.9387.9190.9194.6498.49
102.03109. 05115.53
103.86106.40106.79104.76108.26109.47
110.00110.55112.03111.88111.72113.08
111.50110.48113.15113.08114.34115.31
116.22116 51118 00117.51117 91119.60
in selected nonagricultural industries, 1929-69
Con-tractcon-
struc-tion
$58.8765.2767.56
69.6876,9682.8686.4188.9190.9096.38
100. 27103.78108.41
113.04118.08122.47127.19132. 06138.38146.26154.95164. 56181.26
152.60155.30155. 60160.02163.18165. 50
168. 30'170.72173.76173. 57159. 35168.81
168. 09166. 90171.86174.46179.92181.34
183.91187 77192.96190. 08183 65188.12
Retailtrade
$21.01
21.3422.1723.3724.7926.7728.5932.92
3 33.7736.2238.42
39.7142.8243.3845.3647.0448.7550.1852.2054.1056.15
57.7658.6660.9662.6664.7566.6168.5770.9574.9578.66
72.1172.8072.9373.4973.4075.82
77.3377.3375.9975.4675.7076.47
76.1676.3976.6176.7377.6379.35
80.9681 1979.6979.2079.3079.69
Whole-sale
trade
$26.7525.1925.4425.3826.9628.3628.5128.76
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
118.10119.40120.10120.20121.30122.51
123.12122. 82124.22123.82124.40125. 74
124. 80126. 08126.40127.20128.00129.92
130.17131.22132. 59132. 59133.87135.27
Bitumi-nouscoaland
lignitemining
$25.11
22.0417.5913 5814 2117.4518.8621.8922.9419.7822.99
23.7429 4733.3739.9749 3250.3656.0463.7569.1860.63
67.4674.6975.0481.8477.5292.13
102.00106.0097.57
111.34
112.41112.01114.46121.43128.91140.26149.74153.28153.65165.91
155.47153.87155.77152.69153.09158.53
157.70154.60154.28109.91167.68170.15
171.39167.68159.47172.64169. 29146. 01
159.18168 91169.29177.42174.59
Class 1, rail-roads
$31.90
32.4734 0339.3441.4946 3646.3250.0055.0360.1162.36
64.1470.9374.3076.3378.7482.1288.4094.24
101.50106.43
108.84112.94115.87118.40121.80130. 80135.65139.97151.02
147. 52148.72143.05148.41150.30146.20
154.66152.51151.44155.75156.28155.49
160. 03164. 89154.80159.48
Tele-phonecom-mu-nica-tion
$30 0331 7432.14
32.6732 8834 1436 4538 54
2 40 1244 2944.7748.9251 78
54.3858.2661.2265.0268.4672.0773.4776.0578.7285.46
89.5093.3898.95
102.40105.32109. 08113.27113.18120.69130.90
113.68113.39113.78111.55112.78121.70
122.21122. 09127.48128.30132.39126.48
126. 80129.92126. 08125. 22
161.09 | 128.16158.78 130.09
131.38130 57134.64132. 51135. 05
1 For coverage, see footnote 1, Table C-28.2 Nine-month average, April through December, because of new series started in April 1945.* 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.
2 1 2
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, 1939-69
Year or month
1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969 *
1968: JanFebMar . .AprMay... .June
JulyAugSeptoct ""::::NovDec
1969: JanFebMarAprMayJune
JulyAugSeptOctNov pDec 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
40.040.640.639.840.941.1
40.740.741.241.140.941.1
40 440.040.740 540.740.9
40.540.641.040.740.640.9
Ex-clud-
ingover-time
37.637.537.237.6
37.337.437.637.737.637.637.437.237.137.0
36.737.337.336.937.337.4
37.237.137.237.237.037.2
36.836.737.237.037.137.2
37.036.937.037.037.037.4
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
2.942.942.962.972.993.00
3.002.993.043.063.083.11
3.123.123.133.153.163.17
3.193.193.243.243.263.28
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
2.202.252.312.372.442.512.592.722.883.05
2.832.832.842.862.872.87
2.882.862.902.922.942.97
2.983.003.003.023.033.03
3.063.063.093.103.123.15
Adjustedhourly
earnings,(1957-
59=100)i
32.2
2 33.42 37.52 40.82 43.72 45.52 50.4
57.863.266.1
68.273.677.481.684.386.991.596.2
100.2103.4
106.8109.9112.7115.5118.4121.5125.6131.5139 5147.7
136.1136.9137.5138.2138.6138.8
139.1139.8141.2141.7142.6143.6
144.4144.9145.2146.0146.6146.9
147.8148.4149.5150.2151.0152.0
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
40.841.241.340.441.641.8
41.241.141.841.841.741.7
41.140.841.441.241.441.5
40.941.141.741.441.241.6
Ex-clud-
ingover-time
38.037.937.638.0
37.738.038.138.238.138.137.837.737 637.5
37.337.837.837.437.837.9
37.637.537.637.637.537.6
37.437.237.737.637.737.6
37.337.337.537.537.538.0
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
2.432.492.562.632.712 792.903.003 193.38
3.133.123.143.153.183.18
3.183.173.233.243.273.30
3.313.313.323.333.353.36
3.373.393.443.443.453.48
Ex-clud-ing
over-time
$6.762.872.966
1.0193 1 031
1.1111.241.351.42
1.461.591.681.791.841 912.012.122.212.28
2.362.422.482.542.602.672.762.883 053.23
3.003.003.023.033.043.04
3.043.033.073.093.113.15
3.163.173.173.193.203.21
3.233.243.273.293.313.34
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
38.939.739.738.839.840.1
40.040.240.340.139.940.1
39.438.939.739.439.739.9
39.839.940.039.7
,39.740.0
Ex-clud-ing
over-time
37.237.036.637.0
36.736.836.936.936.836.936.836.636.536.3
35.936.636.636.136.636.7
36.636.736.536.636.436.6
36.135.936.536.236.436.5
36.436.436.336.236.336.6
Averagehourly
earnings
Gross
$0.571
.590
.627
.709
.787
.844
.886
.9951.1451.2501.295
1.3471.441.511.581.621 671.771.851.911.98
2.052.112.172.222.292.362.452.572.742.91
2.672.682.692.702.722.73
2.752.752.782.792.802.82
2.832.842.852.872.882.89
2.922.922.952.962.972.99
Ex-clud-ing
over-time
$6,613.684.748.798
3 841.962
1.111.211.26
1.311.401.461.531.581 621.721.801.861.92
1.992.052.092.152.212.272.352.472.632.79
2.572.582.592.612.612.62
2.632.642.662.672.692.70
2.722.732.742.762.772.77
2.802.792.822.832.852.87
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.
213
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G—32.—Average weekly earnings, gross and spendable, total private nonagriculturalindustries, in current and 1957-59 prices, 1947-69
Year or month
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
103.22104. 53104.90104.72106.69108.20
108.87109.16110.49110.29109.50110.38
110.25110.11111.67111.75113.48115.14
115.82116.51117.80117.25117.00117.25
1957-59prices *
$58.5958.4760.53
63.4063.9365.5768.4168.9372.5874.7074.8374.5677.62
78.2479.2781.5582.9184.4986.5087.3787.5788.8989.75
87.0387.8487.7887.3488.6989.50
89.6089.5590.4289.7488.7489.23
88.8488.3788.9188.4189.5090.24
90.3490.5391.1190.3389.6689.30
Average spendable weekly earnings2
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
84.4385.4285.7084.1185.5786.68
87.1887.3988.3788.2387.6488.29
87.7687.6588.8088.8690.1391.35
91.8592.3593.3092.8992.7192.89
1957-59pricesl
$50.3351.4453.19
54.9253.7954.1356.2857.4460.3161.9161.7061.4063.57
63.6264.3866.0066.5969.4271.8771.8771.6971.5471.23
71.1971.7871.7270.1571.1371.70
71.7571.6972.3271.7971.0271.37
70.7270.3570.7070.3071.0871.59
71.6571.7672.1671.5671.0470.75
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
91.9693.0193.3092.9094.4095.55
96.0796.2997.3097.1596.5597.22
96.6896.5797.7697.8299.13
100.40
100.92101.45102.44102.01101.82102. 01
1957-59prices1
$57.3857.8959.93
62.1061.6562.5664.7165.0167.9669.5069.0968.6370.80
70.7771.4873.0573.6376.3878.5378.3978.1378.6178.30
77.5478.1678.0877.4878.4779.03
79.0778.9979.6279.0578.2478.59
77.9077.5077.8377.3978.1878.68
78.7278.8379.2378.5978.0277.69
1 Earnings in current prices divided by the consumer price index.2 Average gross weekly earnings less social security and income taxes.Note.—"Total private" consists of manufacturing; contract construction; retail and wholesale trade; mining; transporta-
tion and public utilities; finance, insurance, and real estate; and services.See also Note, Tables C-27 and C-28.Source: Department of Labor, Bureau of Labor Statistics.
214
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 1957-59 prices, 1939-69
Year or month
Average gross weeklyearnings
Currentprices
1957-59pricesl
Average spendable weekly earnings2
Worker with nodependents
Currentprices
1957-59prices'
Worker with threedependents
Currentprices
1957-59prices *
1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969 P
1968: Jan..Feb—Mar..
June.
July..Aug..Sept.Oct..Nov..Dec..
1969: Jan..Feb..Mar_.Apr..May.June.
July..Aug.Sept.Oct__Nov pDec p
$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
117.60119.36120.18118.21112.29123.30
122.10121.69125.25125.77125.97127.82
126.05124. 80127.39127. 58128.61129.65
129.20129. 51132.84131.87132. 36134.15
$48.84
51.1557.4764.5871.4374.5570.4963.7163.2063.3964.92
69.5969.9972.6175.6175.3181.1483.1983.2682.1486.96
87.0288.6291.6193.3795.2597.8499.3398.80
101.08101.42
99.16100.30100.5798.59101.65101.99
100.4999.83102. 50102.34102. 08103.33
101.57100.16101.43100.93101.43101.61
100.78100.63102.74101. 59101.43102.17
$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
95.3396.6697.2994.0797.0897.83
96.9496.6499.2799.6599.80
101.17
99.3698.44
100. 34100.48101.24102.00
101.67101.90104. 34103.63103.99105.30
$48.29
50.1254.5055.9959.6261.9758.7254.8754.1155.5756.88
59.9858.5359.5061.7962.4567.0068.5568.3067.3570.83
70.3971.5973.8774.8178.0881.0680.9680.2180.6179.80
80.3881.2381.4178.4680.7080.92
79.7979.2881.2481.0880.8881.79
80.0679.0079.8979.4979.8479.94
79.3179.1880.7079.8479.6980.20
$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
103.43104.85105.50103.23106.38107.16
106 23105.91108.66109.06109.22110.65
108.78107. 82109.81109.95110.74111.54
111.20111.44114.01113.25113.63115.03
$48.35
50.6456.9063.9368.5471.3967.9362.9361.1662.4263.80
67.2666.5068.0970.3970.1474.8076.2975.8374.7178.23
77.7078.8781.1582.0885.2788.0687.9387.0788.0887.27
87.2188.1188.2886.1088.4388.64
87.4386.8888.9288.7488.5189.45
87.6686.5387.4386.9987.3387.41
86.7486.5988.1787.2587.0787.61
1 Earnings in current prices divided by the consumer price index.
2 Average gross weekly earnings less social security and income taxes.
Note—See Note, Tables C-27 and C-28.
Source: Department of Labor, Bureau of Labor Statistics.
215
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, 1947-69
[1957-59=100]
Year
1947...1948...1949...
1950...1951...1952...1953...1954...
1955...1956—1957...1958...1959...
1960...1961...1962...1963...1964...
1965...1966—1967—1968...1969 v_
1947...1948.1949...
1950...1951...195219531954...
19551956—19571958...1959...
1960 . .1961...1962...1963...1964
1965...1966—1967—1968...1969 v.
Output per man-hour
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Output i
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Man-hours2
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Establishment basis 3
69.072.074.2
80.382.784.387.889.9
93.994.196.999.8
103.4
105.0108.6113.8117.9122.5
126.6131.7134 3138.7139.9
49.858.056.5
64.464.770.379.6
•83.7
84.488.093.3
103.0104.8
110.7119.4122.2133.1135.5
148.1153.8168.5168.5181.4
74.176.579.5
84.486.387.089.691.6
95.795.297.299.7
103.1
104.4107.4112.3115.7120.0
123.6127.9129 9134.2134.8
72.376.479.3
85.086.987.390.291.8
97.296.298.298.1
103.7
105.5107.9114.3118.9124.7
129.8131.8132.1139.2142.8
75.176.379.6
84.185.686.788.891.5
94.794.396.7
100.6102.9
103.9107.4111.5114.3118.0
120.5125.8128.7131.6130.6
67.670.870.6
77.982.884.889.187.9
95.497.298.697.3
104.1
106.6108.6116.0120.8127.8
136.2144.9148.2155.6160.1
82.191.888.9
93.788.991.896.698.6
101.0100.598.1
100.5101.9
105.8107.2106.8110.1107.7
114.5108.2114 5112.6113.5
66.869.869.7
77.082.584.588.887.4
95.197.198.697.2
104.2
106.7108.7116.5121.4128.8
137.3146.9150.0157.9162.6
69.372.768.7
79.787.889.797.190.3
100.9101.3101.793.4
104.9
106.4106.0116.8122.7131.2
143.9155.4155.3166.6173.6
65.668.370.2
75.779.881.984.586.0
92.294.997.199.1
103.9
106.8110.1116.3120.8127.7
134.0142.6147.3153.5157.0
98.098.495.1
97.0100.1100.6101.597.8
101.6103.3101.897.5
100.7
101.5100.0101.9102,5104.3
107.5110.1110.4112.2114.4
164.8158.4157.3
145.6137.5130.6121.4117.8
119.6114.2105.197.697.2
95.689.887.482.779.5
77.370.167.766.662.4
90.191.387.7
91.295.697.199.195.4
99.4102.0101.497.5
101.1
102.2101.2103.7104.9107,3
111.1114.8115.4117.6120.6
95.895.186.6
93.8101.0102.7107.798.4
103.8105.3103.695.2
101.2
100.998.2
102.2103.2105.2
110.9117.9117.6119.7121.6
87.489 588.2
90.093.294 595.294.0
97.4100.6100.498.5
101.0
102.8102.5104.3105.7108.2
111.2113.4114 4116.6120.2
Labor force basis4
67.970.271.9
78.582.184 588 490.8
94.794.697.299.4
103.4
104.5107.3113.0116.7121.0
125.0130.7133.3138.6140.1
49.858.056.1
64.164.369.979 183.3
84.087.593.3
103.1104.7
110.7119.9122.3133.5135.8
148.3153.7168.2169.1182.0
72.974.576.8
82.485.787 590 492.8
96.795.997.799.2
103.1
103.8105.9111.4114.4118.4
121.8126.7128.7133.9134.8
67.670.870.6
77.982.884.889 187.9
95.497.298.697.3
104.1
106.6108.6116.0120.8127.8
136.2144.9148.2155.6160.1
82.191.888.9
93 788.991 896 698.6
101.0100.598.1
100.5101.9
105.8107.2106.8110.1107.7
114.5108.2114 5112.6113.5
66.869.869.7
77.082.584.588 887.4
95.197.198.697.2
104.2
106.7108.7116.5121.4128.8
137.3146.9150 0157.9162.6
99.6100.898.2
99.2100.9100.4100.896.8
100.7102.7101.497.9
100.7
102.0101.2102.7103.5105.6
108.9110.9111.2112.3114.3
164.8158.2158.6
146.2138.3131.3122.1118.3
120.3
91.693.790.8
93.496.396.698.294.2
98.3114.9 101.2105.2 100.997.597.3
95.689.487.382.579.3
77.270.267.866.362.4
98.0101.1
102.8102.6104.6106.1108.8
112.8115.9116.5117.9120.6
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.3 Man-hours estimates based primarily on establishment data.* Man-hours estimates based primarily on labor force data.Note.—For information on sources, methodology, trends, and underlying factors influencing the measures, see Bureau
of 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.
2l6
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITYTABLE G-35.—Industrial production indexes, major industry divisions, 1929—69
[1957-59=100]
Year or month
1929
19301931. . . .19321933193419351936193719381939 - .
1940...19411942 . . .194319441945194619471948.1949
195019511952. .19531954195519561957 - . . .19581959
I960196119621963196419651966..1967 . .19681969'
1968:JanFebMarAprMayJune.. .
JulyAugSept.OctNov..Dec
1969:Jan.-FebMarAprMay—.June
July. .AugSeptOctNovDec »
Totalindustrialproduction
38.4
32 026.520.724.426.630.736 339.731.438.3
43.956 469.382.981.770.559.565 768.464.7
74.981.384.391.385.896.699.9
100.793.7
105.6
108.7109.7118.3124.3132.3143.4156.3158.1165.5172.7
Total
38.6
31.725.919.923.726.030.636 439.730.537.9
43.858.373.188.786.373.060.066 468.965.1
75.881.985.292.786.397.3
100.2100.893.2
106.0
108.9109.6118.7124.9133.1145.0158.6159.7166.9173.8
Manufacturing
Durable
38.2
28.419.511.915.518.824.131.235.222.631.4
40.057.779.9
102.9100.978.254.764.367.060.9
74.183.588.599.988.4
101.9104.0104.090.3
105.6
108.5107.0117.9124.5133.5148.4164.8163.7169.8176.4
Nondurable
38.3
34.832.828.932.833.837.441.644.139.144.9
47.357.663.770.768.265.664.867.269.568.3
76.078.580.083.683.691.695.496.796.8
106.5
109.5112.9119.8125.3132.6140.8150.8154.6163.3170.5
Mining
54.2
47.040.333.638.540.343.750.356.749.053.8
60.164.867.069.074.273.072.279.984.074.5
83.291.390.592.990.299.2
104.8104.695.699.7
101.6102.6105.0107.9111.5114.8120.5123.8126.6130.2
Utilities
12.7
13.112.511.711.512.213.214.916.416.518.3
20.322.825.628.330.130.631.836.540.843.4
49.556.461.266.871.880.287.993.998.1
108.0
115.6122.3131.4140.0151.3160.9173.9184.9202.5221.3
Seasonally adjusted
161.5162.5163.3163.0164.9166.0
166.5165.1165.9166.3167.8168.7
169.1170.1171.4171.7172.5173.7
174.6174.3173.9173.1171.4170.9
163.1163.9164.7164.4166.4167.6
167.8166.0166.9167.9169.2170.1
170.2171.8173.1173.0173.8174.8
175.6175.4175.2174.1171.9171.2
167.5167.9168.2167.3169.9171.2
171.2167.9168.6169.4171.0172.1
173.0174.5175.9175.7176.7178.3
178.7178.8178.7177.3172.5171.3
157.7158.9160.2160.7162.0163.0
163.5163.6164.8166.1167.1167.5
166.7168.3169.5169.6170.3170.5
171.8171.3170.9170.1171.1171.1
121.9124.3126.5127.2127.9128.6
130.3129.7127.3120.8126.6127.8
125.8124.8126.7128.8130.3134.4
133.2131.2131.6130.2132.0133.9
196.1198.5198. C196.8198.4198.9
202.0204.7206. S209.2207.2210.6
215.1214.9215.1216.3213.6215.6
222.2222.6222.5224.4224. S225.5
Source: Board of Governors of the Federal Reserve System.
217
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-36.—Industrial production indexes, market groupings, 1947-69
[1957-59=1001
Year.or month
Totalindus-trialpro-duc-tion
Final products
Total
Consumer goods *
TotalAuto-motiveprod-ucts
Homegoods
Equipment
Total,includ-
ingdefense
Busi-ness
Materials
TotalDura-
blegoods
Non-durablegoods
1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956..1957..1958-.1959..
1960.1961.1962.1963.1964.
1965..1966.1967..1968..1969 "
65.768.464.7
74.981.384.391.385.8
96.699.9
100.793.7
105.6
108.7109.7118.3124.3132.3
143.4156.3158.1165.5172.7
1968:Jan.Feb.Mar.Apr.May.June
July.Aug_Sept.Oct..Nov.Dec
1969:Jan..Feb.Mar.Apr.May.June
July.Aug.SeptOct..Nov_Dec
64.266.664.5
72.878.684.389.985.7
93.998.199.494.8
105.7
109.9111.2119.7124.9131.8
142.5155.5158.3165.1170.8
67.169.268.8
78.677.879.585.084.3
93.395.597.096.4
106.6
111.0112.6119.7125.2131.7
140.3147.5148.5156.9162.4
69.472.672.0
90.680.172.191.385.0
118.397.8
105.286.7
108.1
123.2111.8131.1141.2145.1
167.2163.0149.1174.3172.9
68.871.766.3
91.478.778.890.286.0
97.3100.996.692.8
110.7
110.8112.2122.2129.6141.1
154.8168.9166.0175.4184.1
55.458.352.0
56.478.494.1
100.588.9
95.0103.7104.691.3
104.1
107.6108.3119.6124.2132.0
147.0172.6179.4182.6188.6
69.972.663.5
68.083.194.196.685.1
91.9104.7105.389.8
104.9
110.2110.1122.1128.3139.1
156.7181.2182.8184.7195.6
67.070.264.8
76.983.884.392.685.9
99.0101.6101.992.7
105.4
107.6108.4117.0123.7132.8
144.2157.0157.8165.8174.6
68.271.064.2
79.587.888.9
100.788.4
104.7105.3104.890.0
105.1
106.6104.8114.1121.2131.2
144.3156.9151.9157.8165.5
64.968.264.2
73.378.879.084.183.3
93.097.798.995.4
105.7
108.7112.2120.0126.3134.4
144.1157.2163.9174.1184.0
Seasonally adjusted
161.5162.5163.3163.0164.9166.0
166.5165.1165.9166.3167.8168.7
169.1170.1171.4171.7172.5173.7
174.6174.3173.9173.1171.4170.9
161.2162.2163.5162.2163.7165.5
165.2165.4166.0167.3167.6167.9
168.2169.3170.8170.2170.0170.7
172.8172.7172.2170.7168.0167.6
151.9153.1155.0154.0155.5157.4
157.2157.6157.9159.0159.2160.2
161.0161.7162.8161.8160.7161.5
164.4164.2162.8160.8159.6159.1
164.7162.7173.0169.3178.3179.8
180.4177.0175.5178.9180.8177.8
176.2174.7175.4166.1165.8178.7
184.6179.5176.6172.8167.5161
168.4171.5173.5170.1170.4173.2
172.3174.5175.9176.9178.6180.4
184.3183.0186.3186.1185.9186.1
184.4184.5181.2179.5167.7
181.1181.6181.9179.8181.3183.1
182.5181.9183.7183.6185.5184.5
183.5185.5187.8188.4190.0190.4
190.8190.3192.4191.8185.9185.8
183.1182.9183.5181.5182.9184.2
183.3182.4185.5187.7190.3189.3
191.4191.9192.9194.1195.7197.0
196.9197.0200.4200.8194.6195
162.3162.6162.9163.8166.4167.0
168.2164.6166.3165.9168.1168.8
169.6170.8172.1172.9174.5176.3
176.5175.9176.0175.9174.6174.0
155.4156.4156.5158.1160.4160.4
161.3153.9155.4155.4158.6158.9
161.2162.6164.0165.8165.5167.0
167.0167.3166.6165.8163.1162
169.5168.9169.5169.7172.6173.8
175.3175.7177.4176.6177.9179.0
178.3179.2180.3180.3183.7185.9
186.4184.7185.5186.3186.5187
1 Also includes apparel and consumer staples, not shown separately.Source: Board of Governors of the Federal Reserve System.
2l8
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-37.—Industrial production indexes, selected manufactures, 1947-69
[1957-59=100]
Year ormonth
Durable manufactures
Pri-mary
metals
Fabri-catedmetalprod-ucts
Ma-chinery
Trans-porta-tion
equip-ment
Instru-ments
and re-latedprod-ucts
Clay,glass,and
lumber
Furni-tureand
miscel-laneous
Nondurable manufactures
Textile,apparel,
andleatherprod-ucts
Paperand
printing
Chem-ical,
petro-leum,and
rubberprod-ucts
Foods,bever-ages,and
tobacco
1947.1948.1949.
19501951195219531954
1955..1956..1957..1958..1959..
I960..1961.1962.1963.1964.
1965. . .1966. . .1967. . .1968....1969 P..
1968: J a n . . .F e b . . .Mar_.Apr__May . .June . .
Ju ly . .Aug_.Sept . .Oct . . .N o v . .D e c . . .
1969: J a n . . .F e b . .M a r . .A p r . .M a y . .June.
Ju ly . .Aug_.Sept . .Oct . . .N o v . .Dec p.
90.794.379.4
99.9108.799.3
112.591.3
118.4116.4112.287.5
100.4
101.398.9
104.6113.3129.1
137.6142.7132.5137.0149.2
75.977.269.8
85.491.289.0
100.390.2
98.398.8
101.592.9
105.5
107.6106.5117.1123.4132.7
147.8163.0161.9167.9179.8
65.366.559.0
72.783.092.1
100.587.7
96.5107.1104.288.8
107.1
110.8110.4123.5129.2141.4
160.5183.8183.4184.3195.6
42.946.947.1
56.462.973.191.783.8
102.097.4
106.489.5
104.0
108.2103.6118.3127.0130.7
149.2166.9165.7179.5174.6
53.755.249.2
57.365.778.185.382.9
88.795.498.092.1
109.9
116.5115.8123.0130.2136.4
151.4176.5184.8184.2194.2
75.879.772.3
87.792.089.392.789.6
100.7102.097.594.1
108.5
105.7104.5109.3114.4121.1
127.6132.9130.7137.4142.1
73.577.471.6
83.780.282.489.786.8
97.9101.097.693.3
109.0
113.3114.1124.5129.1138.4
151.8165.0162.6169.9176.6
81.084.580.6
89.187.489.590.786.9
95.598.096.995.0
108.1
107.5108.4115.1118.5125.2
135.8141.6139.4144.8143.9
66.769.469.3
76.779.477.782.685.0
92.597.197.897.0
105.2
109.0112.4116.7120.1127.5
135.3146.4149.6155.5164.7
47.550.849.4
60.767.469.975.274.7
86.891.495.695.5
108.9
113.9118.9131.2141.8152.5
164.6181.9190.0207.7222.4
Seasonally adjusted
138.1140.3140.3144.3148.1148.6
147.4124.1120.6123.2127.9134.8
139.5143.6146.2147.9149.3153.1
152.4151.3149.3150.4151.1151
163.9165.7166.5161.3164.9167.6
166.1166.2167.5172.1173.7175.4
176.4177.6178.5178.3179.2180.6
179.1180.6179.1179.5179.2180
183.4183.5183.3179.4180.4181.7
183.0183.8186.4186.2187.4188.5
191.8192.7194.7194.6196.9197.2
198.1199.4201.2198.9188.2188
175.6175.1177.6175.3180.4182.6
183.2181.7180.5180.4180.0176.4
171.2173.1174.1172.4171.8176.6
181.1179.1178.8175.7168.2164
186.7184.7183.8181.4181.2181.3
179.2182.6184.3185.8188.5189.7
191.6190.4192.8195.4195.3195.7
194.7194.9195.4193.9194.9194
132.7130.7129.0137.8137.9137.1
136.2135.3138.8140.0140.5144.3
143.8145.6145.1143.2143.6140.6
138.3140.2140.6140.6141.0141
165.2166.9166.9166.5169.8169.5
169.5170.1170.9172.2173.4173.4
176.6175.7176.5178.4179.0179.1
176.3176.2175.4174.7175.2174
141.1141.9143.9144.2144.8145.6
144.3144.1144.8146.9147.3145.1
143.6142.6144.7143.7146.3146.0
145.4143.3141.1141.7141.3142
150.0150.1152.4152.3155.1155.2
155.8156.9158.2158.0158.8160.8
160.2161.2162.2162.4163.8164.4
165.9166.3165.8165.7166.9166
197.9200.5201.6202.9204.6206.3
208.0208.3211.0213.1216.7215.9
214.1218.0.219.6221.7222.7223.2
225.2222.4223.3224.3224.9224
80.780.080.8
83.685.487.388.289.8
93.196.696.799.4
103.9
106.6110.2113.3116.8120.8
123.4128.1131.7135.3138.9
132.8133.7133.9134.3134.4135.6
136.0135.2135.3136.3135.0137.3
138.0139.5139.8138.2136.9137.0
138.4141.0140.4136.2138.6140
Source: Board of Governors of the Federal Reserve System.
219
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-38.—Manufacturing output, capacity, and utilization rate, 1948-69
Period
1948. . .1949
195019511952.19531954
1955195619571958 . . .1959 . ._
19601961 -19621963 .1964
1965196619671968.1969 v
1963: 1IIIIIIV
1964- 1II . .INIV
1965: 1IIIIIIV
1966: 1 .IIIII „ .IV
1967: 1IIIllIV
1968:1 _
IIIIV . - - — _
1969" 1 * -| | V
HI vIV *
Output Capacity *
1957-59 output=100
68.965.1
75.881.985.292.786.3
97.3100.2100.893.2
106.0
108.9109.6118.7124.9133.1
145.0158.6159.7166.9173.8
76.881.1
84.387.492.798.4
103.3
108.4114.3120.7125.8130.1
134.9139.6144.4149.8155.6
164.0175.0186.1196.9207.7
Utilization rate 2
Total Advancedproducts
Primaryproducts
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
87 980 3
87 391 091 994.183.8
87 886.082.373.681.0
81.178.982.583.184.4
87.690.585.983.881.5
92 280 0
94 898 190 494 483.0
93 290 185 374.682.1
80.078.181.683.687.4
89.790.584.685.886.8
Seasonally adjusted
121.3124.9126.0127.2
129.4132.5134.7135.9
141.4143.5146.1148.9
154.5157.7159.9161.7
159.0157.5158.3161.3
163.9166.1166.9169.1
171.7173.9175.4172.4
147.8149.1150.5151.8
153.3154.9156.4158.0
160.1162.7165.3167.9
170.7173.6176.5179.3
182.1184.8187.5190.1
192.8195.5198.2200.9
203.6206.3208.9212.2
82.083.983.783.7
84.585.786.386.2
88.588.488.588.6
90.590.890.690.0
87.185.084.384.8
85.085.184.284.2
84.584.584.281.8
82.282.983.683.7
83.884.784.984.4
87.287.187.488.7
90.290.490.690.6
87.886.285.184.3
84.583.883.783.2
82.782.282.379.0
81.785.283.983.8
85.587.188.388.8
90.290.190.188.5
90.991.490.689.1
86.283.483.285.6
85.786.984.985.6
87.087.886.785.6
1 For description and source of data see "A Revised I ndex of Manufacturing Capacity " Frank de Leeuw, 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 oparating rates.
2 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 utilization
rate).
2 2 0
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-39.—Business expenditures for new plant and equipment, 1947-69l
[Billions of dollars]
Year or quarter
1947... . .19481949
1950195119521953...1954
1955.1956... . .195719581959
196019611962. .19631964
1965... . .196619671968 .1969 P
1967' 1IIIIIIV .
1968: 1 .
IIIIV.. .
1969: 1I I . . . .III
Total
19.3321.3018.98
20.2125.4626.4328.2027.19
29.5335.7337.9431.8933.55
36.7535.9138.3940.7746.97
54.4263.5165.4767.7675.30
Manufacturing
Total
8.449.017.12
7.3910.7111.4511.8611.24
11.8915.4016.5112.3812.77
15.0914.3315.0616.2219.34
23.4428.2028.5128.3731.74
Dura-ble
goods
3.25
2 45
2.944.825.215.314.91
5.417.457.845.615.81
7.236.316.797.539.28
11.5014.0614.0614.1215.99
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
11.9414.1414.4514.2515.74
Mining
0.69.93.88
.841.111.211.251.28
1.311.641.691.431.36
1.301.291.401.271.34
1.461.621.651.631.87
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
1.992.371.861.451.83
Other
1.301.28.87
1 191 461.471.531.47
1.551.651.711.432.10
1.971.962.171.982.52
2.913.393.774.154.20
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
10.2011.56
Com-mer-cialand
others
6.456.165.58
6 367.047.067.798.27
9.7311.1510.7910.2711.16
11.9912.5213.8415.0616.63
18.4920.5020.9421.9724.10
Seasonally adjusted annual rates
65.2365.6065.4865.66
68.0966.2967.7769.05
72.5273.9477.84
29.7829.1627.8527.51
28.0227.8428.8628.70
29.9931.1633.05
14.4614.2613.9213.71
14.1113.5114.4714.39
15.4715.9816.53
15.3214.9013.9313.80
13.9114.3314.4014.31
14.5215.1816.52
1.541.521.761.78
1.801.661.571.52
1.831.881.89
2.121.781.721.82
1.681.491.291.34
1.681.762.06
3.043.814.014.20
4.313.474.344.62
4.763.883.88
7.988.518.869.46
10.0810.249.82
10.63
11.5211.6811.48
20.7620.8321.2820.90
22.2021.5921.8922.24
22.7423.5925.49
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, finance, insurance, communications, and construction.Note.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the average of season-
ally adjusted figures.Series revised beginning 1947. Comparable data prior to 1947 are not available. A full description of the new actual ex-
penditure series will appear in the January 1970 issue of the "Survey of Current Business" and of the revised expectationsdata in the February 1970 issue.
Sources: Department of Commerce (Office of Business Economics) and Securities and Exchange Commission.
372-111 O—70 2 2 1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-40.—New construction activity, 1929-69
[Value put in place, millions of dollars]
Year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946
New series5
1946194719481949
1950195119521953195419551956 - - . .195719581959
1960196119621963New seriesfl
19621963196419651966196719681969 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 31975,12076,16084,69092,020
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
41,79844,05745,81050,25351,12050,58756,99663,730
Residential build-ing (nonfarm)
Total*
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
24,29226,18726,25826,26823,97123,73628,82331 600
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
18,63820,38520,35420,35117,96417,88522,42323,640
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
17,50617,87019,55223,98527,14926,85128,17332,130
Com-mer-cials
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
10,010
In-dus-trial
949
53222174
176191158266492232254
442801346156208642
1,689
1,6891,7021,397
972
1,0622,1172,3202,2292,0302,3993,0843,5572,3822,106
2,8512,7802,9492,962
2,8422,9063,5655,1186,6796,1315,5946,380
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
10,59112,12813,59113,73814,24615,740
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
15,86317,14817,8S918,896
17,86919,36620,39022,06624,00025,57327,69428,290
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
3,9134,0103,9054,0183,9573,5123,4563,430
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
13,95615,35616,48518,04820,04322,06124,23824,860
See footnotes at end of table.
222
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-40.—New construction activity, 1929-69—Continued
[Value put in place, millions of dollars]
Year or month
1968: JanF e b . . . .M a r . . . .A p r . . . .May . . . .J u n e . . .
J u l y . . . .AugSep t . . . .OctN o v . . . .D e c . . .
1969: JanF e b . . . .M a r . . . .AprMay . . . .J une . . . .
JulyAugSep t . . .O c t . . -N O V P . .
Totalnewcon-
struc-tion
Private construction
Total
Residential build-ing (nonfarm)
Total*New
hous-ing
units
Nonresidential building and other
Total
construction
Com-mer-c ia l
In-dus-trial
Others
Public
Total
construction
Fed-erallyowned
Stateand
locallyowned «
Seasonally adjusted annual rates
82,87383,88483,57285,29985,70782,050
81,65883,73685,26687,75787,81288,068
91,97292,06691,72292,69692,25491,539
91,78791,68793,60893,89691,950
55,31655,38056,05557,40357,26054,981
54,98856,68257,44459,25959,01458,899
62,87562,55062,76262,96263,56463,197
64,24264,00865,56465,81163,756
26,98826,75427,69829,32029,62828,187
27,77028,32529,35029,82330,15230,937
31,08431,43632,42332,93032,86631,805
31,38530,88031,05331,53031,203
21,22621,28221,67722,30022,31221,450
21,24821,91922,77123,56224,11824,953
24,97225,47225,45824,99524,49023,887
23,21422,57722,62423,00322,604
28,32828,62628,35728,08327,63226,794
27,21828,35728,09429,43628,86227,962
31,79131,11430,33930,03230,69831,392
32,85733,12834,51134,28132,553
7,7218,3288,2588,5128,1118,122
8,2728,6418,5348,9398,2628,046
9,9719,9419,7519,0669,284
10,020
10,41710,34311,11810,8569,557
6,3305,7405,5285,4845,2754,852
4,7525,5755,4926,0966,2715,905
6,8006,3186,0195,8575,9236,050
6,4046,4146,7146,9466,526
14,27714,55814,57114,08714,24613,820
14,19414,14114,06814,40114,32914,011
15,02014,85514,56915,10915,49115,322
16,03616,37116,67916,47916,470
27,55728,50427,51727,89628,44727,069
26,67027,05427,82228,49828,79829,169
29,09729,51628,96029,73428,69028,342
27,54527,67928,04428,08528,194
3,5283,6923,5613,3813,4363,287
3,0523,3843,3403,5393,5453,839
3,5513,4633,5303,7843,4883,574
3,1143,4133,4313,4373,168
24,02924,81223,95624,51525,01123,782
23,61823,67024,48224,95925,25325,330
25,54626,05325,43025,95025,20224,768
24,43124,26624,61324,64825,026
1 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.4 Includes Federal grants-in-aid for State and locally owned projects.5 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.
6 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.
7 Preliminary estimates by Council of Economic Advisers.Source: Department of Commerce, Bureau of the Census, except as noted.
223
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-41.—New housing starts and applications for financing, 1929-69[Thousands of units]
Year ormonth
Housing starts
Private andpublic i
Total(farm
andnon-
farm)
Non-farm
Private i
Total (farm and nonfarm)
Total
Type ofstructure 2
Onefamily
Two ormore
families
Nonfarm
Total
Governmenthome programs
FHA3 VA
Newprivatehousing
unitsauthor-ized*
Proposedhome con-struction «
Appli-cations
forFHAcom-mit-
ments 3
Re-quests
forVAap-
prais-als
1929.
1930.1931.1932.1933.1934.1935.1936.1937.1938.1939.
1940.1941.1942.1943.1944.
509.0 509.0
330.0254.0134.0
330.0254.0134.0
93.0126.0221.0319.0336.0406.0515.0
602.6706.1356.0191.0141.8
New series19451946194719481949
1950..1951.1952.1953.1954.1955.1956.1957.1958.1959.
1960...1961...1962...1963...1964...1965...1966...1967...1968...1969 P..
326.11,023.21,268.51,362.11,466.1
.93.0
126.0215.7304.2332.4399.3458.4529.6619.5301.2183.7138.7
324.91,015.21,265.11,344.01,429.8
1,951.91,491.01,503.91,437.61,550.51,646.01,349.1
,553.5
,296.0,365.0,492.4,642.0,561.6,509.61,196.21,321.91,547.71,496.6
1,223.9,382.0,531.3
1,274.01,336.81,468.71,614.81,534.71,487.51,172.81,298.81,523.61,479.0
1,516.8
1,252.11,313.01,462.71,610.31,529.31,472.91,165.01,291.61,507.71,463.2
1,234.1
994.7974.4991.3
1,020.7971.5963.8778.5843.9899.5809.3
282.7
257.4338.6471.4589.6557.8509.1386.5447.7608.2653.8
908.1419.8445.4402.1531.8626.6324.9174.8314.2494.6
,230.1,284.8,439.0,582.9,502.3,450.6,141.5, 268.4
1,483.61,445. 5
13.248.857.0
106.8144.7
176.6217.1160.2126.183.6
38.967.1178.3216.4252.6
328.2186.9229.1216.5250.9268.7183.4150.1270.3307.0
225.7198.8197.3166.2154.0159.9129.1141.9147.7153.6
6 20.647.849.
131.1179.8
231.2288.5238.5144.462.9
78.891.8
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
1,208.3
998.01,064.21,186.61,334.71,285.8,239.8971.9
,141.0,341.4, 296.2
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
Monthly totals, unadjusted
1968: Jan...Feb...Mar..Apr...May..June..
July..Aug..Sept..Oct..Nov..D e c .
82.787.2
128.6165.2145.1142.9
142.5141.0139.8143.3129.599.8
164.4226.3251.4535.4620.8401.5159.4234.2234.0
142.9177.8171.2139.3113.6102.199.2
124.3131.7138.2
82.085.3
126.0162.2143.3141.1
140.0138.9138.0140.6127.598.9
80.584.6
126.6162.0140.9137.9
139.8136.6134.3140.8127.196.4
45.255.479.398.086.881.4
86.482.580.285.664.853.8
35.329.247.364.054.156.5
53.454.154.155.262.342.6
79.882.8
123.9159.1139.0136.0
137.3134.5132.4138.1125.195.5
9.710.612.014.313.812.3
12.913.612.214.511.410.5
3.44.14.55.45.55.0
4.94.84.65.34.24.4
73.488.8
115.5132.4130.5113.9
118.0113.7116.3127.6104.395.9
11.212.415.914.715.713.7
13.215.114.017.113.612.3
8.410.611.612.411.010.4
12.511.510.412.711.49.0
See footnotes at end of table.
224
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TABLE G-41.—New housing starts and applications for financing, 1929-69—Continued
[Thousands of units]
Year ormonth
Housing starts
Private andpublic^
Total(farm
andnon-
farm)
Non-farm
Private1
Total (farm and nonfarm)
Total
Type ofstructure2
Onefamily
Two ormore
families
Nonfarm
Total
Governmenthome programs
FHA3 VA
Newprivatehousing
unitsauthor-ized *
Proposedhome con-struction 5
Appli-cations
forFHAcom-mit-
ments3
Re-quests
forVAap-
prais-als
Monthly totals, unadjusted
1969:JanFebM a r . . . .AprM a y . . . .June
JulyAugSept . . . .O c t . . . .Nov *>-._Dec *>___
105.894.8
135.6159.9157.7150.8
126.5127.6132.9125.897.481.8
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 p..Dec p..
104.593.9134.4158.3156.1148.3
124.3126.2131.2124.595.981.5
101.590.1
131.9159.0155.5147.3
125.2124.9129.3123.494.680.5
51.347.971.985.091.382.7
73.569.571.568.054.442.2
50.242.260.074.064.264.6
51.755.457.955.340.238.3
100.289.2
130.6157.4154.0144.8
122.9123.5127.6122.193.180.2
8.89.2
12.716.013.413.9
13.112.613.115.112.213.4
3.83.53.94.44.34.6
4.74.24.85.03.94.2
92.794.6
119.4146.4126.2123.2
111.8104.0104.7109.182.981.0
12.513.916.116.915.516.2
15.314.616.820.014.815.2
10.19.9
12.212.211.511.4
13.613.011.111.411.510.1
Seasonally adjusted annual rates
1,4561,5371,5111,5911,3641,365
1,5311,5181,5921,5701,7331,507
1,8781,6861,5841,5631,5091,469
1,3711,3841,5421,3921,2971,245
9121,075
920922838790
904867944965905922
1,066975828797883808
765723846777783718
544462591669526575
627651648605828585
812711756766626661
606661696615514527
1,4301,4991,4791,5621,3451,348
1,5071,4961,5701,5411,7051,492
1,8451,6641,5671,5481,4951,446
1,3491,3701,5221,3791,2771,240
157164149147133137
134144145153158158
137138157166134147
137143152163179193
526363595754
495154555365
575253484748
464754525359
1,1481,3941,4161,3401,2801,281
1,2891,2901,3931,3781,4251,463
1,4031,4771,4211,5021,3231,340
1,2281,2451,2011,1831,1911,177
163152160144161157
146167169199212187
179169161166168175
175170193231239209
122141127126110120
135127125147172136
148132136124122126
145151127130184147
1 Military housing starts, including those financed with mortgages insured by FHA under Section 803 of the NationalHousing Act, are included in publicly financed starts but excluded from total private starts and from FHA starts.
2 Not available prior to 1959 except for nonfarm for 1929-44.s Units are for 1 - to 4- family housing.< 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 1967 contributed an increase of3 percent in total permit authorizations.
« Units in mortgage applications or appraisal requests for new home construction.« FHA program approved in June 1934: all 1934 activity included in 1935.i Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.Sources: Department of Commerce (Bureau of the Census), Department of Housing and Urban Development, Federal
Housing Administration (FHA), and Veterans Administration (VA), except as noted.
225
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TABLE C-42.—Sales and inventories in manufacturing and trade, 1947-69
[Amounts in millions of dollars]
Year or month
Total manufacturingand trade
Sales i Inven-tories 2 Ratio 3
Manufacturing
Sales i Inven-tories 2 Ratio s
Merchant wholesalers
Sales i Inyen-tories 2 Ratio 3
Retail trade
Salesi Inven-tories 2 Ratio 3
1.261.391.41
1.381.641.521.531.51
1.431.471.441.431.40
1.451.441.381.391.40
1.401.441.471.441.49
1947—1948—1949—
1950—1951—1952—1953—1954—
1955—1956—1957—1958—1959—
1960...19614..1962...1963...1964...
1965...1966—1967...1968...1969 K.
35,26033,788
38,59643,35644,84047,98746,443
51,69454,06355,87954,23359,661
52,50749,497
59,82270,24272,37776,12273,175
79,51687,30489,05286,92291,891
60,74661,13365,417 10168,96973,685 111
94,74795,728.01,149105,525-",548
80,276 12187,184 13788,962 143;96,915 "•_,
103,896 164,
,140,184,694
153,764164,992
1.421.53
1.361.551.581.581.60
1.471.551.591.601.50
1.561.541.511.491.47
1.451.481.581.531.54
15,51317,31616,126
18,63421,71422,52924,84323,355
26,48027,74028,73627,28030,219
30,79630,89633,11335,03237,335
41,00344,87645,71250,31054,780
25,89728,54326,321
31,07839,30641,13643,94841,612
45,06950,64251,87150,07052,707
53,81454,94358,21260,02763,370
68,17978,12582,81988,57995,416
1.581.571.75
1.481.661.781.761.81
1.621.731.801.841.70
1.761.741.721.691.64
1.601.621.771.701.68
6,16,514
7,6958,5978,7829,0528,993
9,89310,51310,47510,25711,491
11,65611,98812,67413,38214,527
15,59516,97917,09918,32919,776
7,9577,706
9,2849,88610,21010,68610,637
11,67813,26012,73012,73913,879
14,12014,48814,93616,04816,977
18,27420,69121,55722,52824,039
1.131.19
1.071.161,121.171.18
1.131.191.231.241.15
1.221.201.161.151.13
1.141.141.211.201.18
10,20011,13511,149
12,26813,04613,52914,09114,095
15,32115,81116,66716,69617,951
18,29418,24919,63020,55621,823
23,67725,33026,15128,27729,340
14,24116,00715,470
19,46021,05021,03121,48820,926
22,76923,40224,45124,11325,305
26,81326,29728,00129,45031,201
34,68738.36839,31842,65745,537
Seasonally adjusted
1968: JanFeb.._.M a r . . . .AprM a y . . .June.__
Ju ly . . .AugSept—Oct.__.N o v . . .Dec
1969: Jan..__Feb..__M a r . . .Apr.._May. .June__
July..Aug.. .Sept..Oct.. .Nov *>.Decp.
93,18493,758 144;94,463 145,94,552 146,96,069 147,97,423 148,
144,029••1,738
i,082,405,7271,436
98,368 148,97,08398,549 150;99,675
100,142 152i 83098,671
.1,972149,825150,652152,017152,830153,764
100,137 154101,390 155,101,510 156,102,352 157,103,232104,127
104,201104,644 161105,903 162106,907106,036 164;
,086,3391,401,477
158,602159,264
160,631"",659
J.733164,250' " , 9 9 2
1.551.541.541.551.541.52
1.511.541.531.531.531.56
1.541.531.541.541.541.53
1.541.541.541.541.56
48,44748,35648,44648,75550,01450,729
51,42549,82551,44152,56052,54851,494
52,80153,30253,07853,29853,74154,786
55,39255,23956,43456,99956,143
82,89083,40883,75984,38285,27885,582
85,82986,71387,10987,56687,94788,579
88,90589,55690,31791,01892,13992,215
93,16693,72894,21194,91695,416
1.711.721.731.731.711.69
1.671.741.691.671.671.72
.68
.68
.70
.71
.71
.68
1.681.701.671.671.70
17,69417,95318,02118,00617,89718,374
18,26918,49818,79218,41818,78818,830
18,34718,79919,51619,61220,10519,970
19,71920,05920,21020,28820,345
21,56421,54221,54721,78121,84322,012
22,07822,10222,11922,23122,39522,528
22,44122,76923,08023,34123,43823,611
23,59123,60923,71623,95624,039
1.22.20.20.21.22.20
.21
.19
.1821.19.20
.22
.21
.181.191.171.18
1.201.181.171.181.18
27,04327,44927,99627,79128,15828,320
28,67428,76028,31628,69728,80628,347
28,98929,28928,91629,44229,38629,371
29,09029,34629,25929,62029,54829,581
39,57539,78839.77640,24240,60640,842
41,06541,01041,42442,22042,48842,657
42,74043,01443,00443,11843,02543,438
43,87444,32244,80645,37845,537
1.461.451.421.451.441.44
1.431.431.461.471.471.50
1.471.471.491.461.461.48
1.511.511.531.531.54
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.31nventory/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.< Manufacturing sales prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau
of the Census, "Series M3-1.1," page 9, September 1968.5 Where December data not available, data for year calculated on basis of no change from November.
Mote.—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).
226
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TABLE C-43.—Manufacturers9 shipments and inventories, 1947-69
[Millions of dollars]
Year or month
19471948 . . .1949
1950 . .1951195219531954
19551956 - -195719581959
196019613
196219631964 .
19651966 .19671968 . - - -1969* - . - .
1968: JanFebMarAprM a y . . . .June
JulyAugSept . . - .OctNovDec
1969:JanFebMarAprMayJune
JulyAugSeptOct p . —Nov *_-.
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
41,00344,87645,71250,31054,780
Dura-ble
goodsindus-tries
6,6947,5797,191
8,84510,49311,31313,34911,828
14,07114,71515,23713,57215,544
15,81715,54417,10318,24719,634
22,21624,63524,97327,57930,452
Non-durablegoodsindus-tries
8,8199,7388,935
9,78911,22111,21611,49411,527
12,40913,02513,49913,70814,675
14,97915,35216,01016,78617,701
18,78820,24020,73922,73124,328
Inventories 2
Total
25,89728,54326,321
31,07839,30641,13643,94841,612
45,06950,64251,87150,07052,707
53,81454,94358,21260,02763,370
68,17978,12582,81988,57995,416
Durable goods industries
Total
13,06114,66213,060
15,53920,99123,73125,87823,710
26,40530,44731,728
Mate-rialsandsup-plies
8,9667,894
9,19410,41710.608
30,095 9.' 84731,839
32,360
10,585
10.28632,518 10:24134,60935,80738,433
42,20449,79753,54057,42263,076
10,80310,99711,928
13,28515,48415,59216,63717,194
Workin
process
10,7209,721
10,75612,31712,83712,29412,952
12,78013,22114,21015,00016,254
18,14421,97624,67526,35729,660
Fin-ishedgoods
6,2066,040
6,3487,5658,1257,7498,143
9,1909,0569,5969,810
10,251
10,77512,33713,27314,42816,222
Nondurable goods industries
Total
12,83613,88113,261
15,53918,31517,40518,07017,902
18,66420,19520,14319,97520,868
21,45422,42523,60324,22024,937
25,97528,32829,27931,15732,340
Mate-rialsandsup-plies
8,3178,167
8,5568,9718,7758,6719,089
9,1139,4639,8379,999
10,179
10,47811,26611,24711,59811,963
Workin
process
2,4722,440
2,5712,7212,8642,8002,928
2,9353,1923,3033,4123,519
3,8234,2554,4964,8555,058
Fin-ishedgoods
7,4097,415
7,6668,6228,6248,4988,857
9,3539,770
10,46310,80911,239
11,67412,80713, 53614,70415,319
Seasonally adjusted
48,44748,35648,44648,75550,01450,729
51,42549,82551,44152,56052,54851,494
52,80153,30253,07853,29853,74154,786
55,39255,23956,43456,99956,143
26,92526,71126,84426,88827,50927,633
28,21126,83727,98528,96028,78627,742
29,32529,91429,53029,64329,57330,136
30,60530,86831,74231,88931,099
21,52221,64521,60221,86722,50523,096
23,21422,98823,45623,60023,76223,752
23,47623,38823,54823,65524,16824,650
24, 78724,37124,69225,11025,044
82,89083,40883,75984,38285,27885,582
85,82986,71387,10987,56687,94788,579
88,90589,55690,31791,01892,13992,215
93,16693,72894,21194,91695,416
53, 52554,00954,29554,72455,23455,442
55,46156,06956,45856,65756,95357,422
57,87958,28258,97859,42660,22260,479
61,44161,72462, 03662,63163,076
15,48915,64815,84016,07116,37916,498
16,75316,78116,70416,76316,67616,637
16,70616,61316,98016,93517,05517,045
17,15917,01117, 02317,10417,194
24,64124,92625,07825,21425,39225,490
25,23725,54425,77225,82526,08526,357
26,63126,96127,26427,46327,87228, 072
28,71428,97729,22429,49429,660
13,39513,43513,37713,43913, 46313,454
13,47113,74413,98214,06914,19214,428
14,54214,70814,73415,02815,29515,362
15,56815,73615,78916,03316,222
29,36529,39929,46429,65830,04430,140
30,36830,64430,65130,90930,99431,157
31,02631,27431,33931,59231,91731,736
31,72532, 00432,17532,28532,340
11,30611,24911,12811,22811,31211,333
11,36611,50811,51111,60911,51211,598
11,49711,55411,51911,67211,78311,704
11,68411,79011,83712,04811,963
4,4824,4974,5084,5224,6044,619
4,6824,7294,6794,7244,7524,855
4,9915,0144,9434,9705,0164,946
4,9454,9885,0285,0625,058
13,57713,65313,82913,90914,12814,188
14,32014,40714,46114,57614,73014,704
14, 53814,70614,87714,95015,11815,086
15,09615,22615,31015,17515,319
1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.3 Data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau of the Census,
"Series M3-1.1," page 9, September 1968.< Where December data not available, data for year calculated on basis of no change from November.
Source: Department of Commerce, Bureau of the Census.
227
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TABLE C-44.—Manufacturers1 new and unfilled orders, 1947-69
[Amounts in millions of dollars]
Year or month
1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961 *1962..1963..1964..
1965..1966..1967..1968..1969 5.
1968: Jan..Feb..Mar..Apr..May_.June.
July..Aug_.Sept..Oct...Nov..Dec.
1969: Jan...Feb..Mar_.Apr_.May..June.
July...Aug...Sept—Oct....NOVP.
New orders1
Total
15,25617,69215,614
20,11023,90723,20323,53.322,313
27,42328,38327,51426,90130,679
30,11531,08533,00535,32237,952
41,80345,93845,92850,59754,956
Durable goodsindustries
Total
6,3888,1266,633
10,16512,84112,06112,10510,743
14,95415,38114,07313,17015,951
15,22315,69817,02618,52220,258
22,98625,71025,18927,86830,630
Machin-ery andequip-ment
2,0841,770
2,4992,8702,5662,3542,878
2,7912,8543,0903,4123,935
4,4355,2685,2505,8046,402
Non-dura-
blegoodsindus-tries
8,8689,5668,981
9,94511,06611,14211,42811,570
12,46913,00213,44113,73114,728
14,89215,38715,97916,80017,694
18,81720,22820,73922,72824,327
Unfilled orders2
Total
34,41530,71724,506
43,05569,78575,64961,17848,266
60,00467,37553,18348,88254,494
46,13348,48547,35150,96058,536
68,20881,07283,68687,15289,288
Dura-ble
goodsindus-tries
28,53226,60120,018
36,83865,83572,48058,63745,250
56,24163,88050,35245,73950,654
43,40145,33644,53147,98055,652
64,98077,98780,57884, 07186,235
Non-dura-
blegoodsindus-tries
5,8834,1164,488
6,2173,9503,1692,5413,016
3,7633,4952,8313,1433,840
2,7323,1492,8202,9802,884
3,2283,0853,1083,0813,053
Unfilled orders-ship-ments ratio 3
Total
3.42
3.633.873.352.602.85
2.582.522.462.412.50
2.632.922.832.78
Dura-ble
goodsindus-tries
Seasonally adjusted
4.12
4.274.554.003.493.44
3.213.022.962.892.99
3.133.503.393.38
Non-dura-
blegoodsindus-tries
48,35348,45349,56649,23749,65049,850
50,18150,20151,87753,93153,10053,101
53,11953,90153,28354,63554,13353,861
55,79354,79956,82956,91756,103
26,83726,81428,00527,37327,17226,701
26,92527,32928,38130,28029,32529,380
29,68430,48229,69730,94429,99829,171
31,06930,48232,13531,79531,049
5,4665,3805,3825,4925,4475,968
5,7146,0275,9166,5506,0896,237
6,2046,5116,4147,0996,4286,528
6,3466,2457,3526,4506,402
21,51621,63921,56121,86422,47823,149
23,25622,87223,49623,65123,77523,721
23,43523,41923,58623,69124,13524,690
24,72424,31724,69425,12225,054
83,59283,68984,80985,29184,92784,048
82,80683,18483,61784,99185, 53987,152
87,46988, 06488,26789,60389,98689, 058
89,45689, 01489,41189,33389,288
80,49080,59381,75482,23981,90280,970
79,68480,17780,57281,89482,42984,071
84,43184,99485,15986,46186,87885,910
86,36985,98486,37786,28886,235
3,1023,0963,0553,0523,0253,078
3,1223,0073,0453,0973,1103,081
3,0383,0703,1083,1423,1083,148
3,0873,0303,0343,0453,053
2.802.792.822.832.782.72
2.642.792.672.642.672.78
2.682.652.672.692.702.64
2.642.622.572.522.55
3.373.363.393.413.363.28
3.173.383.243.193.223.38
3.223.183.213.243.263.17
3.203.153.073.033.07
0.96
1.121.04.85.55
.63
.75
.68
.65
.59
.62
.56
.53
.48
0.52.52.52.50.49.50
.50
.50
.48
.48
.48
.48
.47
.47
.48
.48
.47
.47
.45
.45
.45
.44
.45
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Ratio of unfilled orders at end of period to shipments for period. 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," page 9, September 1968, for these data.
5 Where December data not available, data for year calculated on basis of no change from November.
Source: Department of Commerce, Bureau of the Census.
228
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRICESTABLE G-45.—Consumer price indexes, by major groups, 1929-69
For city wage earners and clerical workers
[1957-59 = 100]
Yeaf or month
1929 .
193019311932193319341935 .1936193719381939
19401941194219431944 . .19451946194719481949
1950195119521953 . .195419551956195719581959
196019611962 . . . . .196319641965 . . . .1966196719681969
1968: Jan. .F e b . . . .MarAprMayJune .
July..AugSept.OctNovDec
1969:Jan...FebMar.Apr._ .MayJune..
JulyAug.Sept . ._OctNov.Dec
Allitems
59.7
58.253.047.645 146 647.848.350 049.148.4
48.851 356.860.361 362 768.077.883 883.0
83 890.592.593 293 693.394 798 0
100 7101.5
103.1104.2105 4106.7108.1109.9113.1116 3121.2127.7
118.6119.0119.5119.9120.3120.9
121 5121.9122.2122.9123.4123.7
124.1124 6125 6126.4126.8127.6
128 2128 7129.3129 8130.5131.3
Food
55.6
52 943.636.335 339 342.142.544 241.039.9
40.544 251.957.957 158 466.981.388 284.7
85 895.497.195 695 494.094 797 8
101.9100.3
101.4102.6103 6105.1106.4108.8114.2115 2119.3125.5
117.0117.4117.9118.3118.8119.1
120.0120.5120.4120.9120.5121.2
122.0121 9122 4123.2123.7125.5
126 7127.4127.5127 2128.1129.9
Housing
Total
56.357.159 160.159.7
59.961 464 264.966 467 569.374.579 881 0
83 288.289.992 393 494.195 598 5
100 2101.3
103.1103.9104 8106.0107.2108. 5
in. i114 3119.1126.7
116.4116 9117.2117.5117.8118.7
119 5120.1120 4120.9121.7122.3
122.7123 3124 4125.3125.8126.3
127 0127 8128.6129 2129.8130.5
Rent
85.4
83 178.770.660 857 056.958.360 962.963.0
63.264 365 765.765 966 166.568.773 276 4
79 182.385.790 393 594.896 598*3
100 1101.6
103.1104.4105 7106.8107.8108.9110.4112 4115.1118.8
113.7113 9114.2114 4114.6114.9
115 1115.4115 7116.0116.3116.7
116.9117 2117 5117.8118.1118.5
118 8119 3119.7120 1120.5121.0
Appareland
upkeep
55.3
54 149.243.642 146 146.546.949 349.048.3
48.851 159 662.266 770 176.989.295 091.3
90 198.297.296 596 395.997 899 599 8
100.6
102.2103.0103 6104.8105.7106.8109.6114 0120.1127.1
115.9116.6117.6118.4119.5119.9
119.7120.3122.2123.3124.0124.3
123.4123 9124 9125.6126.6127.0
126 8126.6128.7129 8130.7130.8
Trans-porta-tion
49.449.850 651.049.8
49.551 255.755.555 555 458.364.371 677.0
79 084.089.692 190 889.791 396 599.7
103.8
103.8105.0107 2107.8109.3111.1112.7115 9119.6124.2
118.7118.6119.0119.0119.1119.7
119.8120.0119.5120.6121.2120.2
120.7122 0124 3124.6124.0124.6
124 3124 2123.6125 7125.6126.4
Medicalcare
49.449.650 050.250.2
50.350 652 054.556 257 560.765.769 872 0
73 476.981.183 986 688.691 895 5
100 1104.4
108.1111.3114 2117.0119.4122.3127.7136.7145.0155.0
141.2141.9142.9143.5144.0144.4
145.1145.5146.4147.4148.2149.1
150.2151 3152 5153.6154.5155.2
155 9156.8157.6156 9157.4158.1
Personalcare
42.643.245 746.746.5
46.447 652 257.661 763 668.276.279 178.9
78 986.387.388 188 590.093 797 1
100 4102.4
104.1104.6106 5107.9109.2109.9112.2115.5120.3126.2
117.6117.6118.4119.0119.6120.1
120.4120.9121.5122.1122.8123.4
123.7124 1124 8125.5125.8126.2
126 6126 8127.3127 3127.8128.1
Readingand
recrea-tion
50.251.052.554.354.4
55.457 360.065.072 075.077.582.586.789.9
89.392.092.493 392.492.193 496.9
100.8102.4
104.9107.2109.6111.5114.1115.2117.1120.1125.7130.5
122.7123.0124.2124.9125.3125.6
125.9126.3126.7127.5128.0128.2
128.4128 4128.7129.6130.2130.4
130.7131.2131.6132.0132.3132.7
Othergoodsand
services
52.752.654.054.555.4
57.158.259.963.064.767.369.575.478.981.2
82.686.190.692.894.394.395.898.599.8
101.8
103.8104.6105.3107.1108.8111.4114.9118.2123.6129.0
121.9122.1122.4122.5122.6123.5
123.9124.2124.4125.1125.4125.6
125.6125.8126.1126.6126.9127.9
129.1130.1131.3132.2133.1133.5
Source: Department of Labor, Bureau of Labor Statistics.
229
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-46.—Consumer price indexes, by special groups, 1935-69
For city wage earners and clerical workers
[1957-59=100]
Year ormonth
19351936193719381939
19401941194219431944 , .19451946194719481949..
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
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..D e c -
Allitems
47.848.350.049.148.4
48.851.356.860.361.362.768.077.883.883.0
83.890.592.593.293.693.394.798.0
100.7101.5
103.1104.2105.4106.7108.1109.9113.1116.3121.2127.7
118.6119.0119.5119.9120.3120.9
121.5121.9122.2122.9123.4123.7
124.1124.6125.6126.4126.8127.6
128.2128.7129.3129.8130.5131.3
Allitemslessfood
52.553.054.955.555.1
55.356.960.962.665.066.569.475.881.382.1
83.188.490.592.392.893.194.797.9
100.1102.0
103.7104.8106.1107.4108.9110.4113.0116.8121.9128.6
119.3119.7120.2120.6121.0121.6
122.1122.6123.0123.8124.4124.7
124.9125.6126.8127.5127.9128.4
128.8129.3130.0130.8131.4131.9
Allitemsless
shel-ter
46.146.748.246.846.0
46.349.155.359.560.562.168.479.485.684.1
84.791.893.693.993.993.494.797.8
100.7101.5
103.0104.2105.4106.7108.0109.6112.9115.9120.6126.3
118.2118.5119.1119.6120.0120.4
120.8121.2121.5122.2122.5122.7
123.1123.5124.4125.0125.4126.3
126.7127.1127.6128.1128.6129.5
Commodities
Allcom-modi-ties
45.045.647.445.644.7
45.148.255.260.160.862.669.483.489.487.1
87.695.596.796.495.594.695.598.5
100.8100.9
101.7102.3103.2104.1105.2106.4109.2111.2115.3120.5
113.2113.5113.9114.3114.7115.1
115.5115.9116.1116.8117.1117.2
117.4117.8118.7119.3119.6120.5
121.0121.4121.7122.4122.9123.6
Food
42.142.544.241.039.9
40.544.251.957.957.158.466.981.388.284.7
85.895.497.195.695.494.094.797.8
101.9100.3
101.4102.6103.6105.1106.4108.8114.2115.2119.3125.5
117.0117.4117.9118.3118.8119.1
120.0120.5120.4120.9120.5121.2
122.0121.9122.4123.2123.7125.5
126.7127.4127.5127.2128.1129.9
Commodities less food
All
50.250.853.053.052.1
52.455.061.263.867.370.074.483.990.389.0
88.995.696.496.695.694.995.998.899.9
101.2
101.7102.0102.8103.5104.4105.1106.5109.2113.2118.0
111.2111.5111.9112.2112.5113.0
113.2113.5113.9114.7115.3115.2
115.0115.7116.8117.2117.5118.0
118.1118.2118.7119.8120.2120.3
Dura-ble
47.147.850.851.750.6
50.253.660.962.968.773.977.383.889.991.2
92? 299.2
100.599.897.395.495.498.5
100.0101.5
100.9100.8101.8102.1103,0102.6102.7104.3107.5111.6
106.3106.4106.6106.9106.9107.4
107.6107.7107.6108.5109.3108.7
108.6109.7111.1111.4111.3111.7
111.9111.9111.6113.2113.5113.6
Non-dura-
ble
48.849.251.250.950.1
50.652.858.460.964.066.371.181.788.086.3
86.292.793.294.094.494.496.599.199.8
101.0
102.6103.2103.8104.8105.7107.2109.7113.1117.7123.0
115.1115.6116.1116.4117.0117.5
117.6118.1118.9119.7120.2120.3
120.1120.5121.4121.9122.4123.0
123.1123.3124.4125.1125.5125.7
Totalnon-
dura-ble
44.545.146.844.743.8
44.347.454.359.059.561.268.082.088.085.4
85.994.095.194.994.894.195.498.4
101.0100.6
101.9102.8103.6104.9106.0107.9111.8114.0118.4124.1
116.0116.4116.9117.3117.8118.2
118.7119.2119.6120.2120.3120.7
121.0121.1121.8122.5123.0124.1
124.7125.2125.8126.1126.7127.7
AMservices
Services
52.252.854.455.455.5
55.756.458.259.360.761.562.765.369.472.6
75.078.982.486.088.790.592.896.6
100.3103.2
106.6108.8110.9113.0115.2117.8122.3127.7134.3143.7
130.8131.3132.1132.5133.0133.9
134.9135.5136.0136.6137.4138.1
139.0139.7140.9142.0142.7143.3
144.0145.0146.0146.5147.2148.3
Rent
56.958.360.962.963.0
63.264.365.765.765.966.166.568.773.276.4
79.182.385.790.393.594.896.598.3
100.1101.6
103.1104.4105.7106.8107.8108.9110.4112.4115.1118.8
113.7113.9114.2114.4114.6114.9
115.1115.4115.7116.0116.3116.7
116.9117.2117.5117.8118.1118.5
118.8119.3119.7120.1120.5121.0
Allserv-iceslessrent
49.349.049.549.949.9
50.050.652.855.257.959.161.264.368.071.4
73.477.881.584.987.489.491.996.1
100.2103.6
107.4110.0112.1114.5117.0120.0125.0131.1138.6149.2
134.6135.2136.1136.6137.1138.1
139.3140.0140.5141.2142.0142.9
143.9144.6146.1147.4148.1148.8
149.6150.7151.7152.3153.1154.3
Source: Department of Labor, Bureau of Labor Statistics.
230
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-47.—Consumer price indexes, selected commodities and services, 1935-69
For city wage earners and clerical workers
(1957-59=100)
Year ormonth
Durable commodities
Total i Newcars
Usedcars
House-hold
dura-bles
Housefur-nish-ings
Nondurable commod-ities less food
TotalApparel
com-mod-ities
Non-dura-bleslessfoodand
apparel
Services less rent
Total
House-holdserv-iceslessrent
Trans-porta-tion
serv-ices
Med-icalcareserv-ices
Other*
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.
47.147.850.851.750.6
40.340.641.443.442.4
50.253.660.962.968.773.977.383.889.991.2
92.299.2
100.599.897.395.495.498.5
100.0101.5
100.9100.8101.8102.1103.0102.6102.7104.3107.5111.6
106.3106.4106.6106.9106.9107.4
107.6107.7107.6108.5109.3108.7
108.6109.7111.1111.4111.3111.7
111.9111.9111.6113.2113.5113.6
42.545.7
67.974.281.2
81.885.793.194.092.589.291.796.599.6
103.9
102.5102.5102.1101.5101.299.097.298.1
100.8102.4
101.0100.8100.6100.3100.3100.1
99.899.198.4
102.8103.8102.7
51.252.156.756.755.6
54.958.765.768.274.680.384.993.999.997.2
98.4107.8105.0103.8101.098.397.999.6
100.3100.2
100.198.998.898.598.496.996.898.2
101.4105.5
99.699.9
100.4100.8101.1101.3
101.5101.6102.0102.3102.8103.0
103.3103.7104.4105.0105.6105.8
106.0106.0106.2106.4106.5106.5
48.048.852.852.451.3
50.954.461.963.669.173.980.693.499.195.7
96.3106.8104.2103.7101.9100.098.9
100.599.899.8
100.199.598.998.598.497.998.8
100.8104.7109.0
102.6103.1103.8104.2104.4104.7
104.8104.9105.4105.9106.5106.6
106.6107.1107.8108.3108.8109.0
109.3109.4109.9110.2110.4110.6
48.849.251.250.950.1
50.652.858.460.964.066.371.181.788.086.3
86.292.793.294.094.494.496.599.199.8
101.0
102.6103.2103.8104.8105.7107.2109.7113.1117.7123.0
115.1115.6116.1116.4117.0117.5
117:6118.1118.9119.7120.2120.3
120.1120.5121.4121.9122.4123.0
123.1123.3124.4125.1125.5125.7
46.747.249.849.448.6
49.251.760.463.267.671.278.590.996.592.7
91.6100.299.198.097.597.098.699.799.7
100.6
102.0102.6103.0104.0104.9105.8108.5113.0119.3126.5
114.8115.6116.6117.6118.7119.1
118.9119.5121.5122.7123.4123.7
122.6123.1124.3124.9126.0126.4
126.2125.9128.1129.3130.4130.3
51.451.953.253.152.4
52.954.757.860.261.963.165.874.981.881.9
82.587.689.391.692.592.895.198.899.9
101.3
102.8103.3104.2105.3106.2108.0110.3113.1116.8121.0
115.3115.5115.8115.8116.0116.6
116.9117.3117.4117.9118.3118.3
118.6118.9119.7120.2120.3121.0
121.3121.7122.2122.6122.6123.0
49.349.049.549.949.9
50.050.652.855.257.959.161.264.368.071.4
73.477.881.584.987.489.491.996.1
100.2103.6
107.4110.0112.1114.5117.0120.0125.0131.1138.6149.2
134.6135.2136.1136.6137.1138.1
139.3140.0140.5141.2142.0142.9
143.9144.6146.1147.4148.1148.8
149.6150.7151.7152.3153.1154.3
46.646.245.946.246.4
46.346.649.149.149.049.150.151.757.764.2
68.474.880.185.288.989.190.594.8
100.8104.3
107.0109.5111.2112.4115.0119.3124.3128.4133.5142.9
131.5131.9132.4132.7132.9133.3
133.5133.6133.8134.6135.2136.8
139.2139.8140.9141.4141.8142.3
142.5143.1144.0145.1145 8148.4
46.346.547.147.247.3
47.347.649.051.653.755.258.463.367.670.1
71.775.380.183.085.588.091.495.3
100.0104.8
109.1113.1116.8120.3123.2127.1133.9145.6156.3168.9
151.4152.3153.6154.3155.0155.5
156.6157.1158.2159.4160.3161.4
162.8164.3165.8167.2168.2169.1
170.1171.1172.2171.2171.8172.8
1960...1961...1962...1963...1964...1965...1966...1967...1968...1969....
1968:Jan. . .Feb_.Mar..Apr_.May..June..
July...Aug...Sept..Oct . . .Nov..D e c .
1969: Jan_.Feb_.Mar_.Apr. .May..June.
July-Aug-Sept.Oct . .Nov-D e c .
102.3102.3102.4101.9101.8101.8
101.6101.099.5
104.2105.1104.9
108.492.287.283.994.097.4
108.8
101.6105.6115.2116.6121.6120.8117.8121.5
125.3
125.8123.6
126.3126.7
126.7
118.7
115.5122.6130.5131.2126.8128.2
127.0125.4121.4125.8124.9123.9
90.495.7
100.8103.6
10&0109.2110.6113.0114.8117.0121.5127.0134.5146.4
129.9130.6131.1131.5132.1133.7
135.6136.7137.0137.6138.5139.2
139.8140.6142.5144.2145.0145.7
146.9148.2149.5150.4151.4152.4
93.597.2
100.2102.6
106.2109.7112.6115.3118.5121.8126.5131.5138.8145.5
134.8135.3137.0137.6138.3138.9
139.2139.7140.3140.9141.5142.0
142.3142.7143.2144.2144.7145.2
145.7146.5147.2147.6148.2148.9
» Includes certain items not shown separately.3 Includes the services components of apparel, personal care, reading and recreation, and other goods and services.Source: Department of Labor, Bureau of Labor Statistics.
231
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-48.— Wholesale price indexes, by major commodity groups, 1929-69
[1957-59=100]
Year or month
1929
193019311932193319341935.1936193719381939
194019411942 .1943. .194419451946194719481949
1950195119521953 .19541955195619571958 . . .1959
1960 . .196119621963196419651966196719681969
1968* JanFebMarApr . . . .MayJune
JulyAugSeptOctNovDec
1969: JanFebMarAprMayJune
JulyAugSentOctNovDec . . .
All com-modities
52 1
47.339.935.636.141.043.844.247.243.042.2
43 047.854.056.556.957.966.181.287.983.5
86.896.794.092.792.993.296.299.0
100.4100.6
100.7100.3100.6100.3100.5102.5105.9106.1108.7113.0
107.2108.0108.2108.3108.5108.7
109.1108.7109.1109.1109.6109.8
110.7111.1111.7111.9112.8113.2
113.3113.4113.6114.0114.7115.1
Farmproducts
63 9
54.039.629.431.339.948.049.452.741.939.9
41.350.164.674.875.378.390.6
109.1117.1101.3
106.4123.8116.8105.9104.497.996.699.2
103.697.2
96.996.097.795.794.398.4
105.699.7
102.2108.5
99.0101.3102.1102.1103.6102.5
103.9101.4102.8101.2103.1103.3
104 9105.0106.5105.6110.5111.2
110.5108.9108.4107.9111.1111.7
Processedfoods and
feeds
92.699.190.0
93.2103.5102.397.699.395.094.897.6
102.599.9
100.0101.6102.7103.3103.1106.7113.0111.7114.1119.8
112.4113.3112.9112.8113.6114.6
115.9114.9115.3114.4114.7114.7
116.0116.3116.4117.3119.4121.4
122.0121.5121.3121.6121.8122.6
Total
51 7
48.142.439.740.244.244.044.948.146.146.0
46 850.353.954.755.656 361.775.381.780.0
82.991.589.490.190.492.496.599.299.5
101.3
101.3tO(T8100.8100.7101.2102.5104.7106.3109.0112.7
107.8108.3108.6108.8108.6108.8
108.8108.9109.2109.7109.9110.2
110.9111.4112.0112.1112.2112.2
112.4112.8113.2113.8114.2114.6
Industrial commodities
Textileproducts
andapparel
105 7110.3100.9
104.8116.9105.5102.8100.6100.7100.7100.898.9
100.4
101.599.7
100.6100.5101.2101.8102.1102.0105.7108.0
104.3104.6104.6104.7104.8105.2
105.8106.0106.5107.0107.2107.1
107.4107.2107.1107.1106.9107.2
107.7108.7109.0109.1109.2109.2
Hides,skins,
leather,and
relatedproducts
56 6
52.044.738.042.044.946.549.554.348.249.6
52 356.161.161.060.561.370.796.597.592.5
99.9114.892.894.189.989.594.894.996.0
109.1
105.2106.2107.4104.2104.6109.2119.7115.8119.5125.8
116.5116.7117.9118.3118.8118.7
119.5119.5120.7122.3122.4122.8
123.5123.4123.4126.0126.1125.7
126.4126.4128.2127.4126.8126.5
Fuels andrelated
products,and
power
61 5
58.250.052.149.354 354.556.557.556.654.2
53 256.658.259.961.662.366.779.793.889.3
90.293.593.395.994.694.597.4
102.798.798.7
99.6100.7100.299.897.198.9
101.3103.6102.4104.6
101.8102.5102.0102.4102.4103.7
103.3102.6102.5101.9102.0102.2
102.4102.7104.2104.5104.5105.0
105.0104.7104.7105.4105.5105.1
Chemicalsand alliedproducts
46.648 850 951.253.651.050.7
51 656.162.363.163.864 269.492.294.486.2
87.5100.195.096.197.396.997.599.6
100.4100.0
100.299.197.596.396.797.497.898.498.298.3
98.298.198.698.898.798.5
98.298.197.997.897.897.7
97.697.898.097.998.198.3
98.298.798. S98.698 998.8
See footnotes at end of table.
232
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-48.—Wholesale price indexes, by major commodity groups, 1929-69—Continued[1957-59=100]
Year or month
1929
1930193119321933193419351936193719381939
19401941194219431944 . . .19451946194719481949
1950195119521953195419551956195719581959
19601961196219631964196519661967 .196819691968: Jan..
Feb..MarAprMayJune
JulyAugSeptOct_ .Nov...Dec
1969: Jan.. . .FebMarAprMay.June
July.AugSeptOctNov..Dec
Industrial commodities—Continued
Rubberand
rubberproducts
57.6
50.442.837.139.045.545.849.458.157.159.3
55.359.669.471.370.468.368.668.370 568.3
83.2102.192.586.387.699.2
100.6100.2100.199.7
99.996.193.393.892.592.994.896.9
100.3102.199.599.599.799.799.899.9
100.7100 6100.7101.0101.1101.1
100.0100.5100.9101.2101.1101.2
102.5103.0102.7103.5104.4104.5
Lumberand
woodproducts
26.4
24 119.616 920.023.522.623.627.925.426.1
28 934 537.539.742.843 449.777.488 581.9
94.1102.599.599 497.6
102.3103.898.597 4
104 1
100 495.996.5
. 98.6A100 6
v. ioi. 1Y 105.6
105.4119.3132. 0
108.6111.6113.9115.8117.0117.2
119.2120 5122.6124.9126.8133.5
137.8144.5149.5143.3138.0129.8
125.3124.0123.2122.6123.9122.5
Pulp,paper,
andallied
products
75.378.675.2
77.191.389.088.788.891.197.299.0
100.1101.0
101.898.8
100.099.299.099.9
102.6103.8105.2108.2
105.2105.7105.2105.2105.5104.7
104.9104.9105.1105.2105.2105.2
106.2106.8107.4108.0108.1108.3
108.4108.7108.8109.0109.3109.5
Metalsand
metalproducts
44.1
39.735.732.833 637.137.037.843.241.641.2
41 442.242.842.742.743.448.560.268 569.0
72.780.981.083.684.390.097.899.799.1
101.2
101.3100.7100.0100.1102.8105.7108.3109.6112.4118.9
112.2113.3113.8113.3111.7111.7
111.4111 3112.2112.5112.4112.8
114.4115.2115.8116.5117.5117.9
118.7120.4121.7122.4122.9123.8
Machin-ery andequip-ment
""~46.~2~
46.347.147.847.447.147.251.960.065.168.2
70.578.878.980.782.184.691.597.9
100.0102.1
102.9102.9102.9103.1103.8105.0108.2111.8115.2119.0
113.9114.1114.3114.8115.0115.0
115.2115 4115.8116.1116.6116.7
117.0117.3117.8118.0118.3118.6
119.0119.1119.9120.5121 0121.9
Furni-ture andhouse-hold
durables
56.4
55.551 145.045.149.048 649.354.753.453.2
54 457 862.562.163.863 967 877.882 583.8
85.692.891.192 993 994 396.999.4
100 2100.4
100 199.598.898.198 598.099.1
101.1104.0106.1
103.0103.3103.6103.8104.0103.9
104.1104 2104.4104.5104.7105.0
105.3105.4105.7105.8105.9105.9
106.1106.2106.4106.5106 9107.2
Nonme-tallic
mineralproducts
53.4
53.249.746.549.252.652 652.753.952.251.2
51 252.454.554.755.858 161.869.174 776.7
78.683.583.586.988.891.395.298.999.9
101.2
101.4101.8101.8101.3101.5101.7102.6104.3108.1112.8
106.0106.9107.3107.4107.8108.3
108.4108 7108.7108.9109.2109.3
110.6111.2111.9112.3112.6112.8
113.0113.0113.5113.8113 9114.5
Trans-portationequip-ment:Motor
vehiclesand
equip-ment i
42 8
40.338 337.335.637.536 035 738.240.840.0
41 344 248.248.248.549 457.265.572 477.4
77.081.185.885 485.688.293.297.2
100 3102.5
101.0100.8100.8100.0100.5100.7100.8102.2104.9107.0
104.3104.3104.3104.3104.2104.5
104.2104 4104.1106.5106.6106.6
106.5106.4106.3106.4106.5106.6
106.6106.0106.1108.7109.0109.0
Miscel-laneousproducts
80.383.685.2
86.691.791.293.694.494.595.898.6
100.6100.8
101.7102.0102.4103.3104.1104.8106.8109.3111.8114.7
111.0111.3111.5111.8111.8111.8
111.5111.6111.9112.0112.5112.5
112.5112.5112.5112.7112.8115.1
115.5115.9116.4116.7117.0117.0
i Index for total transportation equipment available only beginning December 1968.
Source: Department of Labor, Bureau of Labor Statistics.
233
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-49.— Wholesale price indexes, by stage of processing, 1947-69
[1957-59=100J
Year or month
194719481949
1950....1951195219531954
19551956195719581959
19601961 r_.1962 [...1963 "y...1964 ?l..X
i965 y.1966196719681969
1968: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1969: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allcom-modi-ties
81.287.983.5
96.794.092.792.9
93.296.299.0
100.4100.6
100.7100.3100.6100.3100.5
102.5105.9106.1108.7113.0
107.2108.0108.2108.3108.5108.7
109.1108.7109.1109.1109.6109.8
110.7111.1111.7111.9112.8113.2
113.3113.4113.6114.0114.7115.1
Crude materials
Intermediate materials, supplies, and components1
Total
100.8110.595.6
104.2119.6109.9101.5100.6
96.797.299.4
101.699.0
96.696.197.195.094.1
98.9105.399.6
101.1107.9
99.1100.9101.6101.4102.0101.4
102.6100.8100.9100.2101.5101.3
102.8103.8105.2105.7109.7111.2
110.2109.5108.7108.7109.0109.9
Food-stuffsand
feed-stuffs
113.0122.2101.5
108.9126.0118.6106.2106.2
96.294.298.4
104.297.4
96.294.996.894.091.9
98.3107.2101.2102.5110.4
99.1101.8102.6102.9104.1103.2
104.9102.0102.1101.2103.2102.6
104.5105.9107.6107.6113.5115.6
113.8112.1110.4110.5111.0112.2
Non-food
mate-rials,
exceptfuel
86.596.287.5
100.0115.399.995.693.8
99.1102.8101.497.6
101.0
96.897.997.496.297.8
99.8101.995.597.4
102.0
98.298.498.997.696.696.7
96.897.497.797.096.897.1
97.998.399.5
101.1101.8102.1
102.6104.1104.8104.0104.0104.2
Total
Fuel
73.687.086.5
86.187.788.391.487.3
87.193.398.699.8
101.6
102.5102.3101.8103.0102.5
103.3106.4110.5112.7117.6
111.4111.7112.2112.3112.4112.2
112.5112.4112.6113.2114.3115.3
115.7115.4115.8116.2116.4116.8
117.1117.2118.1119.9121.1121.5
76.582.779.4
83.093.090.390.891.3
93.097.199.499.6
101. 0
101.0100.3100.2100.5100.9
102.2104.8105.6108.0111.8
106.9107.6107.7107.9107.7107.8
107.9107.9108.3108.5108.6109.2
110.1110.7111.4111.4111.4111.4
111.4111.9112.4112.8113.1113.5
Materials and components for
Total
75.581.578.0
81.892.788.890.290.4
92.696.999.399.7
101.0
101.099.899.299.4
100.4
102.0104.0104.7107.1110.8
106.3106.9107.1107.2106.9106.8
106.9106.8107.3107.4107.6107.8
108.5109.1109.6109.8110.2110.4
110.6111.4111.8112.2112.6112.9
manufacturing
For food
factur-ing
102.6105.891.0
94.7105.5101.4101.6100.7
97.597.999.7
102.098.3
99.5102.6100.5105.5104.0
106.6111.3109.2110.7116.8
108.7109.9109.6109.7110.6111.3
112.0111.3111.6110.6111.3111.5
112.7113.1113.4114.1116.3117.8
117.8118.4118.3119.2120.0119.9
Vlaterials
Fornon-durablemanu-factur-
ing
94.099.590.7
95.2110.399.398.596.9
97.398.8
100.199.1
100.8
100.898.698.097.197.8
98.799.598.7
100.2101.2
99.8100.199.9
100.0100.3100.0
100.0100.1100.4100.4100.5100.5
100.5100.6100.7100.8100.9101.1
101.2101.7101.7101.5101.7101.6
Fordurablemanu-factur-
ing
58.866.468.2
72.180.180.383.985.7
90.095.798.899.5
101.8
101.9100.5100.4100.5102.5
104.6106.6108.1111.7118.1
110.9112.0112.7112.3110.9110.9
110.9110.9111.9112.2112.1112.9
114.8116.0117.0117.3117.5117.1
117.4118.7119.6120.0120.4121.4
Com-ponents
63.068.069.3
71.981.681.88S.383.7
87.495.499.199.9
101.1
100.699.698.898.899. lr
101.3104.9108.0110.5114.0
109.4109.9110.0110.6110.5110.3
110.4110.5110.6111.0111.3111.4
111.5111.9112.4112.6113.1113.4
113.9114.3115.1116.1116.7117.0
Mate-rialsand
com-ponentsfor con-
struc-tion
69.677.077.2
81.288.888.289.790.1
93.798.599.199.1
101.8
10L199.799.399.6
^100.6
101.4104.1105.41UU116.9
107.4108.5109.3109.9109.8110.0
110.4110.9111.7112.4112.9114.6
116.3118.3119.7118.4117.6116.0
115.4115.5115.8116.2116.7116.8
See footnotes at end of table.
234
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-49.—Wholesale price indexes, by stage of processing, 1947-69—Continued
[1957-59=1001
Year or month
194719481949
19501951195219531954
19551956195719581959
I9601961196219631964
196519661967 . . . . .19681969
1968: JanFebMar.AprMay . . . .June
July.. .AugSeptOctNovDec
1969: JanFebMarAprMayJune
JulyAugSeptOctNovDec . . . .
Total
80.186.484.0
85.593.693.092.192.3
92.595.198.6
100.8100.6
101.4101.4101.7101.4101.8
103.6106.9108.2111.3115.3
109.7110.2110.4110.5110.9111.3
111.9111.4112.0112.0112.5112.6
113.2113.3113.7113.8114.7115.4
115.9115.7116.0116.5117.6118.0
Finishec1 goods
Consumer finished goods
Total
86.192.688.3
89.898.297.095.495.3
94.796.198.9
101.0100.1
101.1100.9101.2100.7100.9
102.8106.4107.0109.9114.0
108.2108.9109.0109.0109.5110.0
110.7110.0110.7110.6111.0111.1
111.8111.7112.2112.3113.5114.2
114.8114.4114.7115.1116.2116.5
Foods
90.799.091.0
92.8104.2103.397.997.1
94.794.597.8
103.598.7
100.8100.4101.3100.1100.6
104.5111.2109.5113.4120.3
110.6112.0111.9111.7113.0113.6
115.3113.7115.6113.9114.8115.2
116.8116.4117.1116.9120.1121.3
122.3121.2121.6121.2123.9124.5
Othernon-
durablegoods
86.592.088.2
89.696.594.195.095.3
95.897.799.999.3
100.8
101.5101.5101.6101.9101.6
102.8104.8107.2109.4112.3
108.0108.4108.6109.0109.1109.8
110.0109.7109.9110.0110.2110.2
110.4110.7111.2111.5111.4112.2
112.6113.0113.3113.6113.8114.1
Du-rablegoods
75.981.183.2
84.189.790.491.191.8
92.895.998.7
100.1101.3
100.9100.5100.099.599.9
99.6100.2101.7103.9105.8
103.5103.5103.6103.5103.5103.5
103.3103.6103.4104.9105.0105.0
105.1105.1105.3105.4105.4105.5
105.6105.2105.3106.9107.1107.2
Pro-ducer
finishedgoods
61.867.470.7
72.479.580.882.183.1
85.692.097.7
100.2102.1
-102.3102.5102.9103.1104.1
105.4108.0111.6115.3119.3
114.0114.2114.4
.114.8114.9115.1
115.2115.4115.7116.4116.9117.1
117.6117.8118.0118.1118.5118.7
119.3119.3119.9120.8121.5122.3
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
100.9104.5100.0101.8110.5
101.4102.4103.1101.7100.5100.6
100.9101.0101.5102.2103.0103.8
105.0105.5107.2109.0109.7110.2
110.7112.5113.9113.7114.1114.5
Inter-mediate
materials,supplies,and com-ponents 3
73.479.877.8
81.491.288.389.489.8
92.597.099.699.4
101.0
101.4100.199.999.6
100.2
101.5103.6104.8107.5111.3
106.3107.0107.3107.5107.3107.2
107.3107.4107.8108.1108.2108.8
109.7110.4111.1111.0111.1110.8
110.9111.3111.8112.2112.6112.9
Con-sumer
finishedgoods ex-
cludingfoods
83.188.486.5
87.894.292.993 794 1
94.897 199.599.6
100.9
101.3101.2101 0101.0100.9
101.7103.2105.2107.4109.9
106 4106.7106.8107.0107.0107.5
107.5107.5107 5108.2108.4108.3
108.4108 7109.0109.2109 2109.7
110.0110 1110.3111.1111.3111.5
> Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies.> Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.> 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.
235
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY SUPPLY, CREDIT, AND FINANCETABLE C-50.— Money supply, 1947-69
[Averages of daily figures, billions of dollars]
Year and month
Totalmoneysupply
andtime
depos-itsad-
justed
Money supply
Total
Cur-rencycom-po-
nent1
De-mand
depositcom-
ponent2
Timede-
positsad-
just-
Totalmoneysupply
andtime
depos-its
ad-justed
Money supply
Total
Cur-rencycom-po-
nent1
De-mand
depositcom-
ponent2
TimeAa
positsad-
just-ed 3
U.S.Gov-ern-mentde-
mandde-pos-its 4
1947: Dec1948: Dec1949: Dec
1950: Dec1951: Dec.1952: Dec1953: Dec.1954: Dec.
1955: Dec.1956: D e c1957: Dec..1958: Dec..1959: Dec
1960: Dec1961: Dec1962: Dec1963: Dec1964: Dec
1965: Dec..1966: Dec..1967: Dec.1968: Dec..1969: Dec p.
1968:Jan.. .Feb. . .Mar . .Apr . .May..June..
July..Aug_.Sept..Oc t . .Nov..D e c .
1969:Jan...Feb..Mar. .Apr. .May..June.
July.. .Aug. . .Sept . .O c t . . .Nov.. .Dec p..
Seasonally adjusted Unadjusted
148.5147.6147.6
152.9160.8168.6173.3180.6
185.2188.8193.3206.6209.3
213.9228.1245.2265.2285.9
313.4328.9365.4399.7393.8
366.7369.1371.5372.8375.1376.9
380.7384.8387.8391.3395.7399.7
399.0398.7399.1400.4400.0399.8
397.0393.5393.1392.6392.7393.8
113.1111.5111.2
116.2122.7127.4128.8132.3
135.2136.9135.9141.1141.9
141.1145.4147.4153.0159.3
166.7170.4181.7194.8199.7
182.6183.3184.2185.1186.8188.2
189.6191.0191.4191.8193.6194.8
195.8196.3196.8198.1198.3199.0
199.3199.0199.0199.1199.3199.7
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
40.640.741.141.341.641.9
42.142.442.742.843.243.4
43.543.844.144.244.544.8
45.045.345.245.645.946.0
86.785.886.0
91.296.5
100.1101.1104.9
107.4108.7107.6112.6113.1
112.1115.9116.8120.5125.1
130.4132.1141.3151.4153.7
35.436.036.4
36.738.241.144.548.3
50.051.957.465.467.4
72.982.797.8
112.2126.6
146.7158.5183.7204 9194.1
142.0 184.1142.6 185.8143.2143.8145.3146.3
187.2187.7188.21I88.6
147.5 191.1148.6 193.8148.8 196.4149.1 199.4150.5 202.1151.4 204.9
152.3 203.2152.5 202.4152.6 202.3154.0 202.3153.8 201.7154.2 200.8
154.4 197.7153.8 194.5153.7153.6153.4153.7
194.1193.5193.4,194.1
151.1150.0150.0
155.6163.8171.7176.4183.6
188.2191.7196.0209.3212.2
216.8231.2248.2268.2289.2
317.3332.7369.5404.1398.4
371.8367.7370.3374.2371.8375.2
379.3382.7386.7391.6396.5404.1
404.5397.2397.9401.9396.6398.0
395.5391.4391.9393.0393.6398.4
115.9114.3113.9
119.2125.8130.8132.1135.6
138.6140.3139.3144.7145.6
144.7149.4151.6157.3164.0
172.0175.8187.5201.0206.0
188.1181.9
26.826.225.5
25.426.627.828.227.9
28.428.828.929.229.5
29.630.231.233.135.0
37.139.141.244.347.0
40.540.3
182.6186.1183.2186.4
188.1188.0190.1192.0195.3201.0
201.7194.8195.0199.2194.4197.0
197.8195.9197.6199.3201.0203.0
40.741.041.341.8
42.342.542.742.843.644.3
43.543.443.743.844.244.7
45.245.445.245.646.447.0
88.188.4
93.899.2
103.0103.9107.7
110.2111.5110.4115.5116.1
115.2119.2120.3124.1129.1
134.9136.7146.2156.7159.1
147.5141.6141.9145.1141.9144.6
145.9145.5147.4149.2151.7156.7
158.2 202.8151.4 202.4151.3 202.9155.3 202.7150.3 202.2152.3 201.0
35.135.736.1
36.438.040.944.248.0
49.651.456.764.666.6
72.181.896.7
111.0125.2
145.2156.9182.0203.1192.4
183.8185.8187.8188.0188.6188.8
191.1194.7196.6199.6201.3203.1
152.7150.5152.4153.7154.7159.1
197.7195.5194.3193.7192.6192.4
1.01.82.8
2.42.74.93.85.0
3.43.43.53.94.9
4.74.95.65.15.5
4.63.45.05.05.5
5.07.26.74.36.55.6
5.85.66.16.34.55.0
4.96.94.85.49.26.0
5.64.35.34.25.15.5
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.
3 Time deposits adjusted are time deposits at all commercial banks other than those due to domestic commercial banksand the U.S. Government.
4 Deposits at all commercial banks.Note.—Effective June 1966, balances accumulated for payment of personal loans are reclassified for reserve purposes and
are excluded from time deposits reported by member banks. The estimated amount of such deposits at all commercialbanks ($1.1 billion) is excluded from time deposits adjusted thereafter.
Source: Board of Governors of the Federal Reserve System.
236
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TABLE C-51.- -Bank loans and investments, 1930-69
[Billions of dollars]
End of year or month *
1930 June1931 June .1932 June1933 June1934 June193519361937. . .1938193919401941..194219431944 .1945194619471948
19481949195019511952 .19531954 . .1955 .195619571958 . .19591960.. .19611962 .1963 . .1964 _19651966196719681969 P
1968: Jan . . . .FebMar.Apr _.MayJune . .JulyAugSeptOct .Nov ._Dec
1969:Jan .FebMarAprMay.June . . .JuneJulyAugSeptOctpNov vDec v
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
s 310.5346 5384.6398.6349.9353.9352.5355.2357.3357.8365.9370.4374.6379.4381.6384.6385.9387.9386.6390.7392.2392.5
6 397 3397.7397.5396.5396.8399.7398.6
41.542.051.156.562.866.269.180.688.191.595.6
107.8113.8120.4134.0149.6167.7192.6
s 208.2225 4251.6276.2227.5229.2229.0231.4232.6233.5238.4241.1243.6246.7250.4251.6253.7258.4257.3261.0264.1264.3
6 269 2269.9270.3271.3273.3275.5276.2
62.366.461.160.462.262.267.660.357.256.965.157.759.865.364.661.760.757.153.659 761.551.860.062.059.960.361.060.463.163.964.064.261.061.560.858.157.457.756.156.2
6 56 356.856.954.753.453.251.8
9.210.312.413.414.214.716.416.816.317.920.520.520.823.929.235.038.744.8
M8.761.471.570.562.462.763.663.463.663.964.465.567.068.570.271.571.471.571.972.172.072.0
671.871.070.370.570.171.070.5
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 53.160.765.873.181.664.964.966.467.466.969.069.068.069.369.771.273.172.973.775.076.776.678.4
77.676.678.177.678. C81.6
1 Data are for last Wednesday of month (except June 30 and December 31 call dates used for all commercial banks).2 Adjusted to exclude interbank loans beginning 1948.s Loans by weekly reporting large commercial banks beginning 1965 and formerly weekly reporting member banks.* 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.s 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.
3 7 2 - 1 1 1 O—70 237
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TABLE C-52.—Total funds raised in credit markets by nonfinancial sectors, 1961—69
[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
Home.. . .Other residential..CommercialFarm
Other private credit
Bank loans n.e.cConsumer credit.. .Open-market paperOther
Total funds supplied directly
U S GovernmentU.S. Government credit agencies, net.
Funds advancedLess funds raised
Federal Reserve System . .Commercial banks, netPrivate nonbank finance
Savings institutions, netInsuranceFinance n e c , net. ,
Funds advancedLess funds raised
Foreign
Private domestic nonfinancial . .
BusinessState and local government,
general fundsHouseholds.Less net security credit
1961
46.9
7.2
6.7.6
39.6
31.9
2.829.1
5.2
5.118.8
11.12.64.01.1
7.7
2.91.81.02.0
46.9
1.6.4
1.0.7
1.515.723.8
10.913.1- . 2
3.33.5
.8
3.1
.5
.83.01.3
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- . 7
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
35! 9
5.9
4.925.1
15.13.25.11.6
18.0
6.07.9
4.1
57.7
1.5.1
1.6
2.919.129.9
15.514.3
.1
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
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
5.7
70.4
2.8*
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 . 2
4.45.6
2.8
- 3 . 0*
1.2- 2 . 0
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 . 5
9.812.3
2.5
13.8
9.0
.75.51.4
See footnote at end of table.
238
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TABLE C—52.—Total funds raised in credit markets by nonjinancial sectors, 1961—69—Continued
[Billions of dollars]
Nonfinancial sector
1969 unadjusted quarter-ly totals
1
17.0
.2
.1
.1
16.8
12.4
*12.3
2.53.86.0
3.4.9
1.3.5
4.4
.7- 1 . 2
1.73.2
17.0
1.2*
.9
.9
- . 5-7 .4
8.7
4.55.5
-1 .3
-2 .3-1 .0
- . 3
15.2
3.63.57.3
- . 8
II
23.0
-10.9
-11.6.8
33.9
15.4
.415.0
3.43.97.6
4.31.11.4.7
18.5
8.34.01.54.7
23.0
1.4- . 1
2.32.3
1.79.07.5
3.04.6
5.65.6
- . 1
3.5
3.42.2
-2 .2- . 1
III
20.8
3.4
4.6-1 .2
17.5
12.7
.212.4
1.63.67.2
4.41.01.4.5
4.8
- 1 . 51.61.43.3
20.8
1.7- . 2
2.52.7
-4 .57.6
1.76.2
- . 3
1.61.9
1.8
14.4
3.8- . 311.3
.3
1969 seasonally adjustedannual rates
1
96.3
- . 4
- . 4- . 1
96.7
56J. 1
. 256.0
11.516.328.2
16.33.75.92.2
40.6
15.19.95.79.8
96.3
5.1- . 2
4.85.0
.14.6
31.6
16.320.8
-5 .5
-6 .7-1 .2
- . 1
55.2
21,29.3
21.8-2 .8
II
88.8
-18.7
-22.53.8
107.5
55.9
1.754.2
11.514.728.0
16.24.35.12.4
51.6
17.910.45.2
18.1
88.8
5.9-1.1
6.57.6
2.315.335.8
16.221.0
-1 .4
17.118.5
.4
30.2
15.96.96.8
- . 6
III
100.9
15.1
19.2-4 .1
85.8
48.1
1.047.2
6.813.127.2
15.93.95.32.1
37.6
5.88.25.6
18.0
100.9
7.3- . 6
11.812.3
3.5- . 230.7
6.424.5- . 2
15.715.8
5.7
54.4
22.34.5
29.1
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.c .Consumer creditOpen-market paperOther
Total funds supplied directly
U.S. GovernmentU.S. Government credit agencies, net
Funds advancedLess funds raised
Federal Reserve System._.Commercial 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 fundsHouseholds -.Less net security credit
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-53.—Selected liquid assets held by the public, 1946-69 *
[Billions of dollars, seasonally adjusted]
End of year or month
1946194719481949 .
19501951195219531954
19551956195719581959
19601961196219631964
19651966»196719681969 v
968"JanFebMar-AprMayJune
JulyAugSeptOctNovDec
1969:JanFebMarAprMayJune
JulyAug .SeptOctpNov*Dec 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
573.1601.5650.4709.6729.0
655 8658.6665.6664.6667.8670.8
676.5679.6684.9693.1699.4709.6
i 703.7705.7713.2710.0714.3713 8
2 709.5713.1718.0714.3720.6729.0
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
• 199.2206.2
179.6178.2181.7181.1183.9186.7
186.2185.9186.4188.0190.6
6199.2
188.8189.8192.4190.8191.5194.1
2 191.8193.2194.1193.6195.0206.2
Time deposits
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
147.1159.3183.1203.8195.9
186.5187.6187.9187.6187.7187.9
191.5194.0196.2200.4204.7203.8
203.4202.9201.9200.6202.7200.4
197.5195.7195.6195.4197.1195.9
Mutualsavingsbanks
16.917.818.419.3
20.120.922.624.426.3
28.130.031.633.934.9
36.238.341.444.549.0
52.655.260.364.767.1
60.661.161.461.762.162.6
62.863.063.463.864.364.7
64.865.265.565.766.166.3
66.366.466.666.767.067.1
Postalsavingssystem
3.33.43.33.2
2.92.72 52.42.1
1.91.61.31.1.9
.8
.6
.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
109.8113.4123.9131.0134.7
123.6124.6125.8125.9126.4
127.2128.1129.5130.0130.8131.0
131.0132.0133.4133.3133.5133.6
133.6134.1135.3134.9135.3134.7
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
51.951.851.851.851.851.9
51.952.052.052.052.152.5
52.552.352.252.252.252.2
52.252.152.052.052.052.4
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
48.653.950.558.572.7
53.655.457.056.555.954.9
56.956.657.458.957058.5
7 63.463.467.767.568.367.3
68.171.674.671.774.272.7
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 supply, Table C-50, 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 supply 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-50). 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.
» 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.
«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 (except as noted).
240
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-54.—Federal Reserve Bank credit and member bank reserves, 1929—69
[Averages of daily figures, millions of dollars]
Year and month
1929: Dec
1930: Dec1931: Dec .1932: Dec1933: Dec1934: Dec1935: Dec. .1936: D e c . . .1937: Dec1938: Dec1939: Dec
1940: Dec1941: Dec1942: Dec1943: D e c . . .1944: D e c .1945: Dec1946: Dec1947: Dec.1948: D e c . . .1949: Dec
1950: Dec1951: Dec1952: Dec1953: Dec1954: Dec1955: Dec .1956: D e c . . .1957: Dec1958: Dec1959: Dec
1960: D e c .1961: Dec1962: Dec .1963: Dec1964: Dec1965: Dec1966: Dec1967: Dec .1968: Dec1969: Dec*
1968: JanFeb. .MarApr. .May .June
July. . . . . .AugSeptOct .NovDec
1969: JanFebMarApr. .MayJune
July. .Aug .SeptOctNovDec*
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, 083
51,28750,87351,86352,50952,99853,813
54,57355,04854,77855,77056,18956,610
56,47655,78655,47758,82159,99960,565
60,88760,87660,45961,51662,76764,083
U.S.Govern-ment se-curities
446
644777
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
27,24829,09830,54633,72937,12640,88543,75048,89152,52957, 500
49,04648,93049,51150,09050,58151,306
52,09052,64652,22253,30053,38852,529
52,66552,26552,12252,46353,39054, 028
54,29854,59953,84054,70856,49957, 500
Memberbank
borrow-ings
801
337763281951067
1673
354
90265334157224134118
142657
1,593441246839688710557906
87149304327243454557238765
1,087
237361671683746692
525565515427569765
697824918996
1,4021,407
1,1901,2491,0671,1351,2411,087
Allother,mainlyfloat
396
29241057
142325857474799
114180482658654702822729842607
1.119,380,306,0?7t 154,41?, 703,494, 543493
1,7251,9702,3682,5542,5042,5142,5472,1393,3165,496
2,0041,5821,6811,7361,6711,815
1,9581,8372,0412,0432,2323,316
3,1142,6972,4375,3625,2075,130
5,3995,0285,5525,6735,0275,496
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
19,28320,11820,04020,74621,60922,71923,83025,26027,22128,012
25,83425,61025,58025,54625, 50525,713
26,00126,06926,07726,65326,78527,221
28, 06327,29126,75427,07927,90327,317
26,98027,07926,97127,34027,76428,012
Re-quired
2,347
2,3422,0101,909
i l , 8 2 22,2902,7334,6195,8085,5206,462
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
25,45325,21125,22425,27625,08525,362
25,70225,69425,69426,39326,46126, 766
27, 84627,06326, 53726,92727,60326,974
26, 86426,77626, 73527,19727,51127,774
Excess
48
7360
5261766
1,7482,9832,0461,0713,2265,011
6,6463,3902,3761,0481,2841,491
900986797803
1,027826723693703594652577516482
756568572536411452392345455238
381399356270420351
299375383260324455
217228217152300343
116303236143253238
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
743762663685
885169
- 8 7 0252457
- 2 4 5-36
- 1 3 3-41
- 4 2 4
669419268209168- 2
- 1 6 5107
- 3 1 0- 8 4 9
14438
- 3 1 5- 4 1 3- 3 2 6- 3 4 1
- 2 2 6- 1 9 0- 1 3 2- 1 6 7- 2 4 5- 3 1 0
- 4 8 0- 5 9 6- 7 0 1—844
—1,102—1,064
—1,074- 9 4 6- 8 3 1- 9 9 2- 9 8 8- 8 4 9
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.
241
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-55.—Bond yields and interest rates, 1929-69
[Percent per annum]
Year or month
1929
1930.193119321 9 3 3 . . .1934
19351936193719381939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
I 9 6 0 . . . . ,1961196219631964
19651966196719681969 . .-
1967: Jan..FebMarAprMayJune
JulyAugSeptOctNovDec
U.S
3-monthTreas-
urybills i
(6)
(6)1.402
879.515.256
.137
.143447
.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
4.7594.5544.2883.8523.6403.480
4.3084.2754.4514.5884.7625.012
Government securities
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
4.714.644.354.034.094.40
4.985.105.215.325.555.69
3-5year
issues3
2 662.12
1 291.111 40
83.59
5073
1.461.341.33
1.181.161.321.621.43
1.501 932.132.561.82
2.503.123.622.904.33
3.993.603.573.724.06
4.225.165.075.596.85
4.714.734.524.464.684.96
5.175.285.405.525.735.72
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
4.40
I
1
i
I
I
1.471 451.511.761.86
1.861.951.995 195.445.36
Corporatebonds
(Moody's)
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
5.205.035.135.115.245.44
5.585.625.655.826.076.19
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
3.243.413.523.743.51
3.533.884.714.735.05
5.195.085.024.864.83
4.875.676.236.947.81
5.975.825.855.835.966.15
6.266.336.406.526.726.93
High-grade
munic-ipal
bonds(Stand-ard &
Poor's)
4.27
4.074.014.654.714.03
3.413.073.102.912.76
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
3.273.823.964.515.81
3.583.563.603.663.923.99
4.054.034.154.314.364.49
Averagerate onshort-termbankloans
to busi-n e s s -
selectedcities
(7)
( 7 )(7)v>( 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
9 5.00
5.164.975.005.014.99
5.066.00
i° 6.006.688.21
io 6.13
5.95
5.95
5.96
Primecom-mer-cial
paper,4-6
months
5.85
3.592 642.731.731.02
.75
.75
.94
.81
.59
.5653
.66
.69
.73
.75
.811.031.441.49
1.452.162.332.521.58
2.183.313.812.463.97
3.852.973.263.553.97
4.385.555.105.907.83
5.735.385.244.834.674.65
4.925.005.005.075.285.56
Fed-eral
ReserveBankdis-
countfate
5.16
3.042.112.822.561.54
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
1.892.773.122.163.36
3.533.003.003.233.55
4.044.504.195.175.87
4.504.504.504.104.004.00
4.004.004.-004.004.184.50
FHAnew
homemort-gage
yields s
4.34
4.174.214.294.614.62
4.644.795.425.495.71
6.185.805.615.475.45
5.466.296.557.138.19
6.776.626.466.356.296.44
6.516.536.606.636.656.77
See footnotes at end of table.
242
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-55 .—Bondyields and interest rates, 1929-69— Continued
[Percent per annum]
Year or month
1968: JanFebMarAprMayJune
JulyAug _SeptOctNovDec
1969: JanFebMarAprMayJune
JulyAugSeptOctNovDec
U.S. Government securities
3-monthTreas-
urybills i
5.0814.9695.1445.3655.6215.544
5.3825.0955.2025.3345.4925.916
6.1776.1566.0806.1506.0776.493
7.0047.0077.1297.0407.1937.720
9-12monthissues2
5.395.375.555.636.066.01
5.685.415.405.445.566.00
6.266.216.226.116.267.07
7.597.517.767.637.948.34
3-5year
issues 3
5.535.595.775.695.955.71
5.445.325.305.425.475.99
6.046.166.336.156.336.64
7.027.087.587.477.577.98
Taxablebonds4
5.185.165.395.285.405.23
5.095.045.095.245.365.66
5.745.866.055.845.856.05
6.076.026.326.276.526.81
Corporatebonds
(Moody's)
Aaa
6.176.106.116.216.276.28
6.246.025.976.096.196.45
6.596.666.856.896.796.98
7.086.977.147.337.357.72
Baa
6.846.806.856.977.037.07
6.986.826.796.847.017.23
7.327.307.517.547.527.70
7.847.868.058.228.258.65
High-grademunic-
ipalbonds
(Stand-ard &Poor's)
4.344.394.564.414.564.56
4.364.314.474.564.684.91
4.955.105.345.295.475.83
5.846.076.356.216.376.91
Averagerate onshort-termbankloans
to busi-ness-
selectedcities
6.36
6.84
6.89
6.61
7.32
7.86
8.82
8.83
Primecom-mer-cial
paper,
months
5.605.505.645.816.186.25
6.195.885.825.805.926.17
6.536.626.827.047.358.23
8.658.338.488.578.468.84
Fed-eral
ReserveBankdis-
countrate
4.504.504.665.205.505.50
5.505.485.255.255.255.36
5.505.505.505.956.006.00
6.006.006.006.006.006.00
FHAnew
homemort-gage
yields s
6.816.816.786.836.94
7.527.427.357.287.297.36
7.50
7.998.058.068.06
8.358.368.368.408.488.48
* 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).8 Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable thereafter.4 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 (JlA percent beginning late January 1969).
Thru July 1961, computed on 25-year mortgages paid in 12 years and thereafter, 30-year mortgages prepaid in 15 years.0 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.' 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.9 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.
243
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-56.—Short- and intermediate-term consumer credit outstanding, 1929-69[Millions of dollars]
Adden-dum:Policy
...... .._r_.. loans byEnd of year or month Total _ Auto- con- and Per- _ Charge life in-
surancecom-
panies 3
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969 41968: 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*.
Total
7,116
6,3515,3154,0263,8854,2185,1906,3756,9486,3707,2228,3389,17?5,9834,9015,1115,6658,384
11,59814,44717,36421,47122,71227,52031,39332,46438,83042,33444,97145,12951, 54456,14157,98263,82171,73980,26890,31497,543
102,132113,191122,200101,260100,771100.981102,257103,411104,620105,680107,090107,636108,643110,035113,191112,117111,569111,950113,231114,750115,995116,597117,380118,008118,515119,378122,200
Instalment credit
Total
3,524
3,0222,4631,6721,7231,9992,8173,7474,1183,6864,5035,5146,0853,1662,1362,1762,4624,1726,6958,996
11,59014,70315,29419,40323,00523,56828,90631,72033,86833,64239,24742,96843,89148,72055,48662,69271,32477,53980,92689,89098,10080,37980,23380,47481,32882,31283,43384,44885,68486,18487,05887,95389,89089,49289,38089,67290,66391,81393,08793,83394,73295,35695,85096,47898,100
Auto-mobilepaper
1,384
986684356493614992
1,3721,4941,0991,4972,0712,458
742355397455981
1,9243,0184,5556,0745,9727,7339,8359,809
13,46014,42015,34014,15216,42017,65817,13519,38122,25424,93428,61930,55630,72434,13036,80030,57930,68230,94231,33131,81832,36432,87433,32533,33633,69833,92534,13034,01334,05334,26234,73335,23035,80436,08136,24536,32136,59936,65036,800
Othercon-
sumergoodspaper
1,544
1,4321,214
834799889
1,0001,2901,5051,4421,6201,8271,9291,195
819791816
1,2902,1432,9013,7064,7994,8806,1746,7796,7517,6418,6068,8449,028
10,63111,54511,86212,62714,17716,33318,56520,97822,39524,89927,30022,11721,76721,64421,84122,01122,24822,45222,77722,98823,24823,66824,89924,68224,40424,30624,39924,63624,95625,17225,46725,73225,85526,22327,300
Repairand
modern-izationloans i
27
2522181537
253364219218298371376255130119182405718853898
1,0161,0851,3851,6101,6161,6931,9052,1012,3462,8093,1483,2213,2983,4373,5773,7283,8183,7893,9254,0003,7343,7083,6883,6973,7463,7693,8083,8573,8813,9103,9313,9253,8863,8753,8743,9033,9644,0224,0394,0634,0964,0844,0764,000
Per-sonalloans
569
579543464416459572721900927
1,0881,2451,322
974832869
1,0091,4961,9102,2242,4312,8143,3574,1114,7815,3926,1126,7897,5828,1169,386
10,61711,67313,41415,61817,84820,41222,18724,01826,93630,00023,94924,07624,20024,45924,73725,05225,31425,72525,97926,20226,42926,93626,91127,04827,23027,62827,98328,30528,54128,95729,20729,31229,52930,000
Noninstalment credit
Total
3,592
3,3292,8522,3542,1622,2192,3732,6282,8302,6842,7192,8243,0872,8172,7652,9353,2034,2124,9035,4515,7746,7687,4188,1178,3888,8969,924
10,61411,10311,48712,29713,17314,09115,10116,25317,57618,99020,00421,20623,30124,10020,88120,53820,50720,92921,09921,18721,23221,40621,45221,58522,08223,30122,62522,18922,27822,56822,93722,90822,76422,64822,65222,66522,90024,100
Chargeac-
counts
1,996
1,8331,6351,3741,2861,3061,3541,4281,5041,4031,4141,4711,6451,4441,4401,5171,6122,0762,3812,7222,8543,3673,7004,1304,2744,4854,7954,9955,1465,0605,1045,3295,3245,6845,9036,1956,4306,6866,9687,7558,1006,4245,8595,7106,0266,2766,3686,4576,5746,5506,6926,9647,7557,0976,4036,3406,5576,9717,0027,0396,9887,0057,0857,2388,100
Other 2
1,596
1,4961,217
980876913
1,0191,2001,3261,2811,3051,3531,4421,3731,3251,4181,5912,1362,5222,7292,9203,4013,7183,9874,1144,4115,1295,6195,9576,4277,1937,8448,7679,417
10,35011,38112,56013,31814,23815,54616,00014,45714,67914,79714,90314,82314,81914,77514,83214,90214,89315,11815,54615,52815,78615,93816,01115,96615,90615,72515,66015,64715,58015,66216,000
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
10,05911,219
10,14010,22410,33610,44510,56910,69710,82410,94211,04211,13411,19711,28411,39911,52511,69911,90312,09012,32312,65212,92113,17213,40613,580
1 Holdings of financial institutions only; holdings of retail outlets are included in "other consumer goods paper."2 Single-payment loans and service credit.3 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).
244
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-57.—Instalment credit extended and repaid, 1946-69
[Millions of dollars]
Year or month
1946.194719481949
19501951195219531954
19551956195719581959
I9601961196219631964
19651966196719681969
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 i_.
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, 053102,800
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, 08994,600
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, 500
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, 01829,900
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, 59332,800
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, 08930,400
Repair and mod-ernization loans
Ex-tended
423704714734
835841
1,2171,3441,261
1,3931,5821,6741,8712,222
2,2152,092 ,2,084 i2,1862,225
2,2662,2002,1132,2682,300
Re-paid
200391579689
717772917
1,1191,255
1,3161,3701,4771,6261,765
1,8762,0152,0102,0462,086
2,1162,1102,1422,1322,200
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
26,34327,20328,96132,76835,200
Seasonally adjusted
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
23,78025,42827,13029,85032,100
7,4537,8477,9037,8638,0338,003
8,2478,1878,4168,5338,2888,277
8,3718,4148,3818,7208,6808,705
8,5218,6808,6698,6618,6328,650
7,0547,1117,2817,2227,3017,287
7,3907,2537,7017,5867,4547,502
7,7307,6167,7357,9607,8347,910
7,8998,0807,9717,9928,0128,050
2,3852,5592,6052,5092,5902,570
2,6732,6842,7832,7822,6812,592
2,6612,7162,7302,7722,7572,725
2,5822,6342,7942,8082,6832,650
2,2542,2752,3162,2972,3272,289
2,3522,3272,4822,3912,3632,357
2,4672,4682,5012,5192,4882,460
2,4712,5622,4982,4632,5032,500
2,3392,4582,5312,5972,5352,536
2,6222,4832,5602,6452,6402,656
2,6542,5982,6252,7632,7672,869
2,7772,8192,7402,7072,8412,800
2,2232,2692,3722,3402,3122,324
2,3742,2092,4282,4512,3882,422
2,4422,3522,4612,5692,5072,602
2,5112,5742,6002,6152,6232,600
169184183189197179
195185196202191192
179201198219209218
185177180175164200
182173185176184175
181170179177175175
173172180185183183
191185156189179200
2,5602,6462,5842,5682,7112,718
2,7572,8352,8772,9042,7762,837
2,8772,8992,8282,9662,9472,893
2,9773,0502,9552,9712,9443,000
2,3952,3942,4082,4092,4782,499
2,4832,5472,6122,5672,5282,548
2,6482,6242,5932,6872,6562,665
2,7262,7592,7172,7252,7072,750
* Preliminary; December by Council of Economic Advisers.Source: Board of Governors of the Federal Reserve System (except as noted).
245
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-58.—Mortgage debt outstanding, by type of property and of financing, 1939-69
[Billions of dollars]
End of yearor quarter
1939.
19401941194219431944
1945 . .1946194719481949
19501951195219531954
19551956195719581959
196019611962 . .19631964
196519661967 v1968 v1969 P
1966: 1IIIII—.IV
1967: \v—.II *>111 p . .IV P__.
1968: 1 r .—\\v...Ill p . .IV P...
1969: 1 p . . . .II p . . .Ill p . .IV 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
325.8347.4370.2397.5424.7
331.9338.7343.6347.4
350.5356.2363.3370.2
375.8382.9389.8397.5
403.7411.7418.5424.7
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
21.223.325.527.529.6
21.822.523.023.3
23.724.324.925.5
26.026.727.227.5
28.128.829.329.6
r
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
304.6324.1344.8370.0395.0
310.2316.2320.6324.1
326.8331.9338.3344.8
349.8356.1362.6370.0
375.7382.9389.2395.0
Yonfarm properties
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
216.2219.6221.9223.6
224.9227.8232.0236.1
239.1243.2247.0251.2
254.8259.5263.4266.8
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
37.240.343.947.351.7
38.239.139.740.3
41.041.942.843.9
44.645.346.247.3
48.349.450.651.7
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
54.560.164.871.476.5
55.857.559.060.1
60.962.263.564.8
66.167.669.371.4
72.674.075.276.5
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
82.182.783.484.1
84.585.386.488.2
89.490.792.093.4
94.596.698.5
1- to 4
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
73.176.179.984.4
74.174.775.476.1
76.477.278.379.9
81.082.183.284.4
85.387.188.9
-family houses
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
42.044.847.450.6
43.043.744.444.8
45.245.746.647.4
48.148.749.650.6
51.452.253.4
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
31.131.332.533.8
31.131.031.031.3
31.231.531.732.5
32.933.433.633.8
33.934.935.5
Conventional2
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
223.4240.0256.6276.6
228.1233.5237.2240.0
242.3246.6251.9256.6
260.4265.4270.6276.6
281.2286.3290.7
1- to 4-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
139.8147.5156.1166.8
142.1145.0146.5147.5
148.4150.6153.7156.1
158.1161.1163.8166.8
169.6172.3174.6
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.
246
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TABLE C-59.—Mortgage debt outstanding, by lender, 1939-69
[Billions of dollars]
End of year or quarter
1939
19401941194219431944
194519461947 . . . .19481949 - . . .
19501951195219531954
1955 . . .1956195719581959
19601961 - .196219631964 . .
196519661967 P1968 P1969 P
1966: 1IIIIIIV
1967* 1 pII pIN pIV p
1968: 1 p _II pIII pIV p
1 9 6 9 : 1 pII vIII vIV p
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
325.8347.4370.2397.5424.7
331.9338.7343.6347.4
350.5356.2363.3370.2
375.8382 9389.8397.5
403.7411.7418.5424.7
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
264.6280.8298.8319.9339.1
269.6274.7278.2280.8
282.9287.6293.3298.8
302.6308.1313.5319.9
324.7331.0335.5339.1
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 8130.8140.2
112.3114.0114.4114.4
114.8116.9119.5121.8
123.3125.9128.3130.8
133.0136.2138.6140.2
Mutualsavingsbanks
4.8
i
i
t
i
1.9I 81 61.41.3
1.2I 44.95.86.7
8.39.9
11.412.915.0
17.519.721.223.325.0
26.929.132.336.240.6
44.647.350.553.555.8
45.445.946.647.3
48.148.949.750.5
51.251.852.553.5
54.254.855.455.8
Com-mercialbanks *
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
49.754.459.065.770.9
50.752.353.654.4
54.555.757.559.0
60.162.063.865.7
67.169.170.270.9
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
60.064.667 570.072.1
61.262.563 664.6
65.566.166.667.5
68.068 468.970.0
70.470.971 372.1
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
12.415.818 421.726.8
13.514.415.215.8
16.416.717.518.4
19.620.621.121.7
22.623.424 926.8
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
48.750.953.055.858.8
48.849.650.250.9
51.351 952.553.0
53.554 255.155.8
56 457.258 158.8
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.
247
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-60.—Net public and private debt, 1929-68*
(Billions of dollars]
End of year
1929
19301931193219331934
19351936193719381939
19401941194219431944
19451946194719481949
19501951195219531954
1955.19561957 . . . - •19581959
19601961196219631964
1965196619671968
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
664.9698.3728.3769.1831.4
872.4929.8997.1
1,071.71,153.7
1,245.61,340.81,436.41,568.5
Public
Fed-eral 2
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
266.4271.8286.4291.9
Fed-eral
finan-cial
agen-cies 3
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
21.5
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
40.244.448.653.258.0
63.070.078.184.792.4
99.9107.1117.9128.6
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
392.2427.2454.3482.4528.3
566.1609.1660.1722.3789.7
870.4950.6
1,023.11,126.6
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
454.3502.7541.7604.5
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
416.1447.9481.4522.2
Private
Individual and noncorporate
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
39.342.448.350.2
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
376.8405.5433.2472.0
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
236.8252.8266.9285.5
Com-mer-cialand
finan-cial «
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
49.755.264.273.2
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
102.1113.2
i Net public and private debt is a comprehensive aggregate of the indebtedness of borrowers after eliminating certaintypes of duplicating governmental and corporate debt.
> 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 30,1971." Figures shown here are subject to revision.
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 here beginning in 1947; the debt of the Federal Home Loan Banksis included beginning in 1951; and the debts of the Federal National Mortgage Association—Secondary Market Operations,Federal Intermediate Credit Banks, 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.
248
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNMENT FINANCETABLE C-61.—Federal budget receipts and outlays, 1929-71
[Millions of dollars]
Fiscal year
Administrative budget:1929 .1930
1931.. . . . .193219331934...1935
193619371938 .1939
Consolidated cash statement:1940
1941.. . .1942..194319441945
19461947194819491950
1951.. . .19521953
Unified budget:19541955 . . . . . . .
19561957 . .19581959.I960
1961.1962196319641965
19661967....19681969 . .19701
1971 i
Receipts
3,8614,058
3,1161,9241,9973,0153,706
3,9974,9565,5884,979
6,879
9,20215,10425,09747,81850,162
43,53743,53145,35741,57640,940
53,39068,01171,495
69,71965,469
74, 54779,99079,63679,24992,492
94,38999,676
106, 560112,662116,833
130,856149, 552153,671187,792199,386
202,103
Outlays
3,1273,320
3,5774,6594,5986,6456,497
8,4227,7336,7658,841
9,589
13,98034,50078,90993,95695,184
61,73836,93136,49340,57043,147
45,79767,96276,769
70,89068, 509
70,46076,74182,57592,10492,223
97,795106,813111,311118,584118,430
134,652158,254178 833184,556197,885
200,771
Surplus ordeficit ( - )
734738
-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
-18,2016,6008,8641,006
-2,207
7,59349
-5 ,274
-1 ,170-3,041
4,0873,249
-2 ,939-12,855
269
-3 ,406-7,137-4,751-5 ,922-1,596
-3,796-8,702
- 2 5 1613,2361,501
1,331
i Estimate.
Note.—Certain interfund transactions are excluded from receipts and outlays starting in 1932. For years prior to 1932 theamounts of such transactions are not significant
Refunds of receipts are excluded from receipts and outlays starting in 1913; comparable data are not available for prioryears.
Source: Bureau of the Budget.
249
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G-62.—Federal budget receipts, outlays, financing, and debt, 1960-71
[Millions of dollars; fiscal years]
DescriptionActual
1960 1961 1962 1963 1964 1965
RECEIPTS, EXPENDITURES, AND NET LEND-ING:
Expenditure account:ReceiptsExpenditures (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
92,49290,341
2,151
8,3106,427
1,882
92,49292,223
269
2,174-2,443
-269
290,862237,177
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
-7,137
9,769-2,632
7,137
303,291248,373
106,560111,456
-4,896
9,6469,791
-145
106,560111,311
-4,751
6,088-1,337
4,751
310,807254,461
112,662118,039
-5,377
10,2379,693
545
112,662118,584
-5,922
3,0922,830
5,922
316,763257,553
116,833117,181
-347
10,9119,662
1,249
116,833118,430
-1,596
4,061-2,465
1,596
323,154261,614
BUDGET RECEIPTS.Individual income taxesCorporation income taxesEmployment taxes and contributionsUnem ployment insurance 2_. _Contributions for other insurance and
retirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts3
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 manpowerHealthI ncome securityVeterans benefits and servicesInterestGeneral governmentAllowancesUndistributed intragovernmental trans-
actions
92,49240,74121,49411,2482,667
76811,6761,6061,1051,187
75,65019,228
92,22345,9083,054401
3,3221,0194,774971
1,286756
17,9775,4268,2991,327
94,38941,33820,95412,6792,902
85711,8601,896982919
75,17921,800
97,79547,3813,357744
3,3401,5685,048191
1,499873
20,9565,6888,1081,491
99,67645,57120,52312,8353,337
87512, 5342,0161,142843
79,70322,652
106,81351,0974,4921,2574,1231,6865,408589
1,7321,139
22,2055,6258,3211,650
106,56047,58821,57914,7464,112
94613,1942,1671,2051,023
83,55025,799
111,31152,2574,1152,5525,1391,5055,743-8801,7321,393
23,8545,5209,2151,810
112,66248,69723,49316,9594,045
1,00813,7312,3941,2521,084
87,20528,518
118,58453, 5914,1174,1705,1851,9726,482-1852,0281,737
24,8335,6819,8102,040
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
-2,297
74,86519,743
-2,385
-2,449
79,33621,048
-2,589
-2,513
86,59422,898
-2,680
-2,644
90,14123,958
-2,788
-2,877
95,76125,884
- 3 , 061
116,83348,79225,46117,3593,819
1,08114,5702,7161,4421,594
90,94329,230
118,43049,5784,3405,0914,8072,0637,364
2882,5331,730
25,4535,722
10,3572,210
-3,109
94,80726,962
-3,339
See footnotes at end of table.
250
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-62.—Federal budget receipts, outlays, financing, and debt, 1960-71—Continued[Millions of dollars; fiscal years]
DescriptionActual
1966 1967 1968 1969
Estimate
1970
RECEIPTS, EXPENDITURES, AND NET LEND-ING:
Expenditure account:Receipts,Expenditures (excluding net lending). _
Expenditure account surplus ordeficit (-)___..__-_
130,856130,820
Loan account:Loan disbursements.Loan repayments
Net lending.
Total budget:Receipts.. -_-_.__.Outlays (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 -
36
14,62810,796
3,832
130,856134,652
—3,796
3, 076720
3,796
329,474264,690
149,552153,201
-3,649
17,67612,623
5,053
149,552158,254
-8,702
2,8385, 863
8,702
341,348267, 529
153,671172,802
-19,131
20,32714,297
6,030
153,671178,833
-25,161
23,1002,061
25,161
369,769290,629
187,792183,080
4,712
13,11711,640
1,476
187,792184, 556
3,236
-1,044-2,192
1-3,236
367,144279,483
199,386194,985
4,401
9,4896,589
2,900
199,386197,885
1, 501
-2,5831,082
1-1,501
374,734278,483
BUDGET RECEIPTS.
Individual income taxesCorporation income taxes.Employment taxes and contributionsUnemployment insurance 2 .Contributions for other insurance and re-
tirementExcise taxes...Estate and gift taxesCustoms duties —Miscellaneous receipts 3.
MEMORANDUM:Federal funds-Trust funds. __
BUDGET OUTLAYS (EXPENDITURES AND NETLENDING)
National defenseInternational affairs and financeSpace research and technologyAgriculture and rural development....Natural resources. .Commerce and transportationCommunity development and housing.Education and manpower ..Health. . . . . .Income securityVeterans benefits and servicesInterestGeneral government .AllowancesUndistributed intragovernmental trans-
actions _ _
130,856
55,44630,07320,6623,777
1,12913,0623,0661,7671,875
101,42732,997
134,652
56,7854,4905,9333,6792,0357,135^2,6444,5232,54328,7515,92011,2852,292
149,552
61, 52633,97127,8233,659
1,86713,7192,9781,9012,108
111,83542,935
158,254
153,671
68,72628,66529,2243,346
2,05214,0793,0512,0382,491
114,72644,716
178,833
70,0814,5475,4234,3761,8607,5542,6166,1356,721
30,8816,897
12,5882,510
80,5174,6194,7215,9431,7028,0474,0767,0129,672
33,8356,882
13,7442,561
187,792
87,24936,67834,2363,328
2,35315,2223,4912,3192,916
143,32952,009
184,556
81,2403,7854,2476,2212,1297,8731,9616,825
11,69637,3997,640
15,7912,866
MEMORANDUM:Federal funds. . . .Trust funds.._ ._Intragovernmental transactions.
-3,364
106,51231,708-3,568
-3,936
126,77936,693-5,218
-4,499
143,10541,499-5,771
-5,117
148,81943,284-7,547
199,386
92,20037,00038,9143,340
2,55115,9403,5002,2603,681
149,57958,141
197,885
79,4324,1133,8866,3432,4859,4363,0467,53813,26543,8328,68117,8213,620475
-6,088
156,70349,517-8,335
1 Excludes changes due to reclassification and to conversion of mixed-ownership enterprises to private ownership. (Seefootnote to Table 9 of the 1971 Budget Document.)
2 Includes Federal funds of $339 million in 1960.3 Includes both Federal funds and trust funds.
Source: Bureau of the Budget
251Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-63.—Relation of the Federal Budget to the Federal sector of the national income andproduct accounts, 1968-71
[Billions of dollars; fiscal years]
Receipts and expendituresActual
1968 1969
Estimate
1970 1971
RECEIPTS
Total receipts, budget-
Government contribution for employee retire-ment (grossing) _ .
Other netting and grossing ...Adjustment to accruals .Other
Federal sector, national income and product accounts,receipts —
EXPENDITURES
Total outlays, budget. __
Loan account. __..Financial transactions in the expenditure account-Government contribution for employee retirement
(grossing) . : .Other netting and grossing.. _.._Defense timing adjustment..Dollar expenditures to finance agricultural exports.O t h e r . . . . . .
Federal sector, national income and product accounts,expenditures
153.7
1.91.14,3
- . 1
160.9
178.8
-6 .0-1 .6
1.91.1
-2 .1
172.4
187.8
2.11.31.7
- . 2
192.7
184.6
-1 .5- 1 . 0
2.11.3.7
q'.9
186.7
199.4
2.41.4
- . 9- . 4
201.8
197.9
-2 .9-1 .8
2.41.41.7
- . 3- . 2
198.1
202.1
2.61.4*
205,4
200.8
- . 7- 1 . 9
2.61.41.3
!
203.8
Note.—See Special Analysis A, "Budget of the United States Government for the Fiscal Year Ending June 30,1971," fordescription of these categories.
Sources: Bureau of the Budget and Department of Commerce (Office of Business Economics).
252Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G—64.—Receipts and expenditures of the Federal Government sector of the national income
and product accounts, 1946—71
[Billions of dollars]
Year or quarter
Receipts
Total
38.442.743.640.042.060.865.169.365.867.275.880.777.985.494.895.3
104.2110.2115.5120.5132.8147.3160.9192.7201.8205.4
39.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3
106.4114.5115.0124.7142.5151.1176.3201.6
Darrer-sonalf n ylaxandnon-fayId A
ceipts
16.918.820.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.357.664.471.390.595.593.6
17.219.619.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.861.767.579.595.6
Cor-po-rate
profitstaxac-
cruals
8.310.611.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.525.727.731.031.134.340.038.838.4
8.610.711.89.8
17.021.518.519.517.020.620.620.218.022.521.721.822.724.626.429.332.130.638.340.4
Indi-rect
busi-nesstaxandnon-taxac-cru-alcais
7.47.97.98.08.29.59.7
10.710.410.010.811.711.611.913.213.314.215.015.616.915.716.117.218.619.120.5
7.87.88.08.08.99.4
10.310.99.7
10.711.211.811.512.513.513.614.615.316.116.515.716.318.018.8
Con-tribu-tionsfor
socialinsur-ance
5.85.54.64.85.56.67.37.57.88.7
10.211.712.213.816.718.119.922.123.524.628.535.838.043.648.352.9
5.55.14.54.95.97.17.47.48.19.3
10.612.212.414.817.718.220.523.123.825.133.036.740.546.9
Expenditures
Total
55.529.530.939.642.444.666.075.874.267.369.876.083.190.991.398.0
106.4111.4116.9118.5131.9154.6172.4186.7198.1203.8
35.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0
102.1110.3113.9118.1123.5142.8163.8181.5191.9
Pur-chases
ofgoodsand
serv-ices
40.113.013.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.764.471.785.395.3
101.1100.896.6
17.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.799.5
102.0
Transferpayments
Toper-sons
8.38.78.1
11.38.18.59.3
10.512.112.814.417.819.820.623.625U26.427.328.331.837.342.448.254.762.8
9.28.87.68.7
10.88.58.89.5
11.512.413.415.719.520.121.524.925.527.027.830.333.440.045.750.4
Tofor-
eign-ers
(net)
1.82.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12.22.22.32.22.12.22.22.2
2.21.93.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.22.32.22.11.9
Grants-in-aid
to Stateandlocal
govern-ments
0.91.51.82.12.42.42.52.82.93.03.23.74.76.26.86.97.68.49.8
10.912.714.817.618.922.424.8
1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1
10.411.114.415.918.319.9
Netin-ter-estpaid
3.74.24.24.34.44.64.84.85.04.95.15.55.75.97.06.86.87.58.18.59.09.9
10.812.313.613.3
4.24.24.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.78.38.79.5
10.311.613.0
Subsi-diesless
cur-rentsur-plusof
gov-ern-mententer-prises
2.1.7.5.8
1.01.31.1.9
1.01.31.72.82.52.42.33.23.83.63.84.14.55.14.14.14.54.1
1.6.6.7.8
1.21.31.0.8
1.11.52.42.62.72.12.53.84.03.64.24.35.44.74.34.6
Fiscal year:194619471948194919501951.1952195319541955195619571958195919601961196219631964196519661967196819691 9 7 0 1 . . : . .19711
Calendar year:1946194719481949195019511952 _19531954._195519561957195819591960196119621963196419651966196719681969 v
1968: 1 . . .I I . . .I I I . .IV__
1969: l ._ ._I I . . .I I I . .IV v_
Seasonally adjusted annual rates
165.7170.8181.4187.3
198.6202.8201.3
72.174.783.787.4
93.896.995.096 6
37.038.138.439.8
40.741.039.8
17.417.918.318.5
18.518.619.118.9
39.340.140.941.7
45.646.447.548.1
174.1180.3184.2187.4
188.5189.3193.6196.2
96.399.0
100.9101.9
101.6100.6103.2102.7
43.345.546.547.6
49.150.050.951.6
1.82.02.32.41.72.11.82.0
17.718.218.419.019.019.319.821.4
11.011.411.712.212.512.913.113. b
4.04.14.64.44.64.44.64.9
i Estimates.Note.—Includes the transactions of the trust accounts and excludes certain financial transactions. Corporate profits
taxes are included in receipts on an accrual basis; purchases of goods and services from business are timed with delivery;and CCC guaranteed price-support crop loans are counted as expenditures when the loans are made, not when CCC re-deems them.
Receipts for 1969 reflect repeal of investment tax credit.Sources: Department of Commerce (Office of Business Economics) and Bureau of the Budget.
253Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-65.—Public debt securities by kind of obligation, 1946-69
[Billions of dollars]
End of year or month
1946 .194719481949
19501951195219531954..19551956195719581959
1960196119621963.19641965 - -1966 - -19671968 -1969 _. _
1968' JanFebMar - -AprMayJune
julvAugSeptOctNov .--Dec
1969' JanFebMarAprMayJune
JulyAugSeptOctNovDec
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
346.3351.6349 5347.0352.3347.6
351 1354.4354 7357.2356.9358.0
359.4358.8359.5358 5360.1353.7
357.0360.2360.7364.4368.1368.2
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
107.2116.3114.6111.8109.0106.4
110.8106.1106.5116.0104.9108.6
110.4100.3103.3101.2111.9103.9
107.4112.6112.6109.6120.1118.1
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
97.092.092.091.997.895.2
95.2102.1102 195.7
105.9103.4
103.4111.5109.2109.197.697.6
97.694.194.1
101.093.393.3
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
25.125.025.025.025.025.0
24 924.924 924.924.824.8
24.824.724.724 724.624.6
24.624.524.524.524.424.4
Nonmarketable public issues
Specialissues1
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
55.957.256.757.059.259.5
58.960.159 758.859.059.1
59.860.961.162.364.966.8
66.868.468.968.169.371.0
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
51.751.751.851.851.951.9
52.052.052 152.252.352.3
52.352.352.352.252.252.2
52.252.152.152.152.152.2
For-eignand
inter-na-
tional
0.5.7
1.31.72.41.53.14.33.8
3.23.43.33.53.53.7
3.53.33 73.84.44.3
4.44.54.54.54.44.1
4.03.83.84.13.83.8
Other
6 77.46.39.3
10.120.919 619 317.712.711 910.49.27.8
6 35.34.63.83.63.02.82.72.63.4
2.72.72.72.62.62.6
2.62.62 62.62.62.6
2.62.62.62.62.52.5
2.62.72.83.13.13.4
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.J2.J2.(
3 43.23.33.43.43.2
3.13.13 23.13.(2.S
l.J2.(l.Jl.Jl.J2.(
l.Jl.Jl.J2.(l.J2.(
1 Issued to U.S. Government accounts. These accounts also held $18.4 billion of public marketable and nonmarket-able issues on December 31,1969.
2 Includes sales of U.S. savings notes beginning May 1967.
Source: Treasury Department.
254Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-66.—Estimated ownership of public debt securities, 7939-69
[Par values,1 billions of dollars]
End of year ormonth
1939
19401941194219431944 - —194519461947 . .19481949
19501951195219531954. . . .19551956195719581959
1960 .1961...196219631964 . - _1965196619671968 . . . .1969 . -
1968: J a n . . . . . . . .FebMar...AprMayJune . .
July...Aug...SeptOctNov . . . .Dec
1969: Jan . . . .FebMarAprMayJune
July.AugSeptOctNovDec
Total public debt securities 2
Total
41.9
45.057.9
108.2165.9230.6278.1259.1256.9252.8257.1
256.7259.4267.4275.2278.7280.8276.6274.9282.9290.8
290.2296.2303.5309.3317.9320.9329.3344 7358.0368.2
346.3351.6349.5347.0352.3347.6
351.1354.4354.7357.2356.9358.0
359.4358.8359.5358.5360.1353.7357.0360.2360.7364.4368.1368.2
Heldby
Govern-ment
ac-counts
6.1
6.78.5
10.514.519.023 927.430 833.735.9
36.039 342.945.446 749.051.252.852.151.4
52.852.553.255.358.459.765.873 176.689.0
71.873.472.973.175.776.1
75.676.976.576.276.676.6
77.378.779.079.882.784.8
85.086.686.986.187.089.0
Heldby
FederalReservebanks
2.5
2.22.36.2
11.518.824.323.322.623.318.9
20.823 824.725.924 924.824.924 226.326.6
27.428 930.833.637.040 844.349 152 957.2
49.149.049.750.550.652.2
52.453.053.353.353.452.9
52.152.352.453.153.854.1
54.154.954.155.557.357.2
Held by private investors
Total
33.4
36.247.191.5
139.8192.8230.0208.3203.6195.8202.4
199.9196.3199.8203.8207 1207.0200.5197.9204.5212.7
210.0214.8219.5220.5222.5220.5219.2222 4228 5222.0
225.3229.2226.9223.4226.0219.2
223.1224.5224.9227.7226.9228.5
230.0227.8228.1225.6223.6214.8
217.9218.6219.6222.7223.8222.0
Com-mercialbanks 3
12.7
13.717.138.257.376.790.874.568.762.466.8
61.861.563.463.769.162.059.559.567.560.3
62.167.267.164.263.960.757.463.865.556.1
62.863.762.059.860.859.8
61.262.163.565.363.965.5
64.260.860 658.656.454.956.054.754.455.756.456.1
Mutualsavingsbanks
and in-surance
com-panies
8.4
9.211.015.420.828.034.736.735.932.731.5
29.626.225.525.124.123.121.220.119.819.4
18.017.417.516.816.515.614.112.711.610.1
12.512.512.612.312.412.0
12.011.911.911.711.611.6
11.511.411.311.111.611.0
10.610.410.210.110.210.1
Othercorpo-
rations*
2.0
2.04.0
10.116.421.422.215.314 114.816.8
19.720.719.921.519 123.218.717.718.121.4
18.718.518.618.718.215.814.912 214.615.8
13.414.814.113.615.613.0
14.314.512.914.014.814.616.817.817.617.017.415.1
15.816.815.216.416.815.8
Stateandlocal
govern-ments 5
0.4
.5
.71.02.14.36.56.37.37.98.1
8.89.6
11.112.714.415.416.316.616.518.0
18.719 020.121.121.122 924.925 127 127.1
25 626.427 126.926.826.6
26.726.926.726.826.727 1
27.828.428 128.728.127.3
27.527.327.627.027.327.1
Indi-viduals6
9.4
10.013.023.337.253.164.064.165.765.566.3
66.364.665.264.863.565.065.964.963.769.4
66.165.966.068.269.872.174.674.075.379.4
74.575.275.275.275.474.2
74.774.975.275.074.775.3
75.976.176.476.676.876.4
76.977.277.878.578.779.4
Miscel-laneousinves-tors?
0.5
.81.33.56.09.3
11.811.411.912.512.9
13.613.714.716.116.918.318.919.118.924.3
26.526.930.131.533. t33.433.334.734.433.5
36.536.635.935.634.933.7
34.234.234.734.835.234. ^
33.733.133. S33.533.230.2
31. C32.334.-35. C34.233.1
1 United States savings bonds, series A-F and J, and U.S. savings notes are included at current redemption value.2 Not all of total shown is subject to statutory debt limitation.3 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-51, which are based on book values and relate only to banks within the United States.
4 Exclusive of banks and insurance companies.8 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.7 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 Internationa} 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.255
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-67.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-69
End of year or monthAmount
out-standing
Maturity class
Within1 year
1 to 5years
5 to 10years
10 to 20years
20 yearsand over
Average length
Millions of dollars Years
Fiscal year:1946—-1947....1948....1949....
1950..1951..1952..1953-1954-
1955..1956-1957-1958..1959-
1960-1961..1962..1963-1964..
1965..1966..1967..1968..1969-
1968: Jan...Feb..Mar..Apr...May..June..
1969: Jan...Feb...Mar..Apr...May_.June..
July..Aug..
Nov..Dec-
July. . . .AugSeptOct.Nov. . . .Dec
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
229,285233,273231,651228,718231,761226,592
230,977233,167233,556236,651235,653236,812
238,543236,535237,272234,968234,097226,107
229,581231,230231,203235,029237,919235,863
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
107,199116,253114,646111,783109,012106,407
110,824106,121106,534116,040104,938108,611
110,377100,282103,342101,159111,855103,910
107,416112,618112,616109,550120,144118,124
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
78,15767,96767,96967,92267,01764,470
64,46964,99664,99758,60670,75168,260
68,26075,77873,49473,40762,76962,770
62,76369,51969,52274,76273,30573,302
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
18,85924,00524,00624,00630,75230,754
30,75437,14337,14337,14235,13035,130
35,12935,72735,72635,72634,83734,837
34,83724,55324,55326,24720,02620,026
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
8,4168,4148,4138,4118,4098,407
8,4068,4028,4018,4008,3988,396
8,3958,3948,3908,3868,3798,374
8,3728,3708,3678,3638,3608,358
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
16,65416,63516,61716,59616,57116,553
16,52516,50416,48216,46416,43516,415
16,38216,35416,32016,29116,25716,217
16,19416,17016,14516,10716,08316,054
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.
256Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C-68.—Receipts and expenditures of the government sector of the national income and productaccounts, 1929-69
[Billions of dollars]
Calendar year or quarter
1929
19301931 . . . . . . . . .19321933 . .193419351936 . . . .193719381939
19401941194219431944 . . .19451946194719481949
1950195119521953195419551956195719581959..
I960196119621963196419651966 - -196719681969*
1967:1IIIIIIV
1968:1 .
IllIV
1969:1 -IIIllIV*
Total government
Re-ceipts
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 3228.4264.2302.0
222.0224.4230.1237.0
248.5257.3271.1279.7
294.1302.0303.4
Ex-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 9175.4186.9212.3242.9270.8293.0
236.1240.4244.8250.4
260.0268.1274.5280.6
285.9290.6296.0299.7
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
-14.5-6 .7
9.0
Federal Government *
Re-ceipts
3.8
3.02.01 72.73.54.05.07.06.56.7
8 615.422.939 341.042.539.143 243.338.9
49 964.067.270.063.872 177.681.678.789.7
96.598 3
106.4114 5115.0124.7142.5151.1176.3201.6
Ex-pendi-tures
2.6
2.84.23.24.06.46.58.77.48.68.9
10.020.556.185.895.584.635.629.834.941.3
40.857.871.077.069.768.171.979.688.991.0
93.0102.1110.3113.9118.1123.5142.8163.8181.5191.9
Sur-plus ordeficit
nationalincome
andprod-
uct ac-counts
1.2
.3- 2 . 1—1.5- 1 . 3- 2 . 9- 2 . 6- 3 . 6
—2.1- 2 . 2
—1.3- 5 . 1
- 3 3 . 1—46.6- 5 4 . 5- 4 2 . 1
3.513.48.4
- 2 . 4
9.16.2
- 3 . 8- 7 . 0- 5 . 9
4.05.72.1
. - 1 0 . 2- 1 . 2
3.5—3.8—3.8
7—3.0
1.2—» 2
- 1 2 . 7—5.2
9.7
State and localgovernment
Re-ceipts
7.6
7.87.77.37.28.69.18.69.19.39.6
10.010.410.610.911.111.612.915.317.619.3
21.123.325.227.228.831.434.738.241.646.0
49.953.658.663 469.575.585.293.2
106.2120.2
Seasonally adjusted annual rates
-14.1-16.0-14.6-13.4
-11.5-10.8-3 .5- . 9
8.311.47.4
147.5148.3152.0156.4
165.7170.8181.4187.3
198.6202.8201.3
159.5161.4165.3168.8
174.1180.3184.2187.4
188.5189.3193.6196.2
- 1 2 . 0—13.2- 1 3 . 4- 1 2 . 3
- 8 . 4- 9 . 5- 2 . 8- . 1
10.113.57.7
89.690.994.497.9
100.5104.7108.0111.4
114.5118.5121.9
Ex-pendi-tures
7.8
8.48.57 67.28.18.68.18.49.09.6
9 39.18.88 48.59.0
11.014 317.420.0
22.323.725.327.029.932.735.639.544.046.8
49.654.157.662 267 874.583 995.0
107.6121.0
91.793.695.699.0
103.6106.0108.7112.2
116.3120.5122.2124.9
Sur-plus ordeficit
nationalincome
andprod-
uct ac-counts
- 0 . 2
- . 6- . 8— 3
* E
:6
.7
1.31.82.52.72.61.91.0
-.7—1.2
- 1 . 1—1.3
—1.4- 2 . 3
. 2—.5
.91 21 71.01.3
—1.8—1.5
- 2 . 1—2.8- 1 . 3- 1 . 0
—3.1- 1 . 3
-'.B
- 1 . 8- 2 . 1
- . 3
iSee Note, Table C-64.2 Surplus of $32 million.3 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.
Federal receipts for 1969 reflect repeal of investment tax credit.
Source: Department of Commerce, Office of Business Economics.
257Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G-69.—Receipts and expenditures of the State and local government sector of the nationalincome and product accounts, 1946-69
[Billions of dollars; calendar years]
Year orquarter
194619471948___1949
1950_1951195219531954
195519561957 -19581959
196019611962- .1963 . .1964
19651966196719681969 T>
1967' 1IIIIIIV
1968: 1IIIIIIV
1969: 1IIIIIIV p
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
75.585.293.2
106.2120.2
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
11.813.715.418.421.9
Cor-porateprofits
taxaccruals
0.5.6.7.6
.8
.9
.8
.8
.8
1.0
1
nn01.2
1 447q
2.12.22.43 03.1
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
45.949.953.859.967.8
Contri-butions
forsocialinsur-ance
0.5.6.7.8
1.0
1.31.5
1.82.02.32.52.7
3.03.23.53.84.1
4.55.05.76.57.5
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
11.114.415.918.319.9
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
74.583.995.0
107.6121.0
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
70.179.089.3
100.7112.7
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
6.97.78.8
10.011.4
Netinterest
paid
0.3.3.3.3
.33
.3
.3
.4
.55
.5
.6
.7
7.8.8.8.7
.5
.3
.2
.3
.4
Less:Currentsurplusof gov-
ern-mententer-prises
0.7.8.8.9
.91.11.11.21.4
1.61.71.81.82.0
2.22.32.62.82.9
3.03.13.33.43.5
Surplusor
deficit
nationalincome
andprod-
uct ac-counts
1.91.0.1
- . 7
- 1 . 2— 4
- 1 . 1
—1.3— 9
—1.4—2.3
2—.5
.91.2
1.01.3
- 1 . 8—1.5
y
Seasonally adjusted annual rates
89.690.994.497.9
100.5104.7108.0111.4
114.5118.5121.9
14.715.215.716.1
17.218.018.919.5
20.521.522.523.3
2.42.42.42.5
2.93.03.03.1
3.13.13.0
52.053.054.355.9
56.559.261.162.9
64.867.168.970.4
5.45.65.86.0
6.26.46.66.9
7.17.47.78.0
15.114.716.217.4
17.718.218.419.0
19.019.319.821.4
91.793.695.699.0
103.6106.0108.7112.2
116.3120.5122.2124.9
86.488.190.092.9
97.199.4
101.7104.8
108.5112.3113.8116.2
8.48.68.99.3
9.79.8
10.210.5
11.011.311.611.9
0.2.1.1
.2
.3
.3
.4
.4
.4
.4
.4
3.23.33.33.3
3.43.43.53.5
3.53.53.63.6
- 2 . 1- 2 . 8- 1 . 3- 1 . 0
- 3 . 1- 1 . 3- . 7- . 8
- 1 . 8- 2 . 1- . 3
* Deficit of $41 million.Source: Department of Commerce, Office of Business Economics.
258Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G—70.—State and local government revenues and expenditures, selected fiscal years, 1927—68[Millions of dollars]
Fiscal year *
General revenues by source2
TotalProp-ertytaxes
Salesand
grossre-
ceiptstaxes
Indi-vidualincometaxes
Corpo-ration
netincometaxes
Reve-nue
fromFederalGovern-
ment
Allotherreve-nue 3
General expenditures by function2
Total Edu-cation
High-ways
Publicwel-fare
Allother*
1927
19321934.19361938
1940. . . . . . . .1942194419461948
1950 . . .195219531954
19551956195719581959
1960196119621963
1962-63*1963-64 5... .1964-65«_.__1965-66 »„ . .1966-67 31967-68»
7,271
7,2677,6788,3959,228
9,60910,41810,90812,35617,250
20,91125,18127,30729,012
4,730
4,4874,0764,0934,440
4,4304,5374,6044,9866,126
7,3498,6529,3759,967
31,073 10,73534,667 11,74938,164 12,86441,219 14,04745,306 14,983
50,50554,03758,25262,890
16,40518,00219,05420,089
62,269 19,83368,443 21,24174,000 22,58383,036! 24,67091,197 26,047101,264, 27,747
470
7521,0081,4841,794
1,9822,3512,2892,9864,442
5,1546,3576,9277,276
7,6438,6919,4679,829
10,437
11,84912,46313,49414,456
14,44615,76217,11819,08520,53022,911
70
7480153218
224276342422543
788998
1,0651,127
1,2371,5381,7541,7591,994
2,4632,6133,0373,269
3,2673,7914,0904,7605,8267,308,
92
7949113165
156272451447592
593846817778
744890984
1,0181,001
1,1801,2661,3081,505
1,5051,6951,9292,0382,227
116
2321,016948800
945858954855
1,861
2,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9747,1317,8718,722
8,663
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
14,556
7,210
7,7657,1817,6448,757
9,2299,1908,863
11,02817,684
22,78726,09827,91030,701
33,72436,71140,37544,85148,887
51,87656,20160,20664,816
10,002 15,95111,029 17,25013,214 19,26915,370: 21,197
2,518, 17,181 23 ,"~
63,97769,30274,54682,84393,350
598102,411
2,235
2,3111,8312,1772,491
2,6382,5862,7933,3565,379
7,1778,3189,390
10, 557
11,90713,22014,13415,91917,283
18,71920,57422,21623,776
23,72926,28628,56333,28737,91941,158
1,809
,741,509,425,650
,573,490
1,2001,6723,036
3,8034,6504,9875,527
6,4526,9537,8168,5679,592
9,4289,84410,35711,136
11,15011,66412,22112,77013,93214,481
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
5,4205,7666,3156,757
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
23,67825,58627,44730,029
8,218 33,2819,857j 36,915
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-60 for net debt of State and local governments.Source: Department of Commerce, Bureau of the Census.
259Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CORPORATE PROFITS AND FINANCETABLE G-71.—Profits before and after taxes, all private corporations, 1929-69
[Billions of dollars]
Year orquarter
1929 _.
1930 . .193119321933193419351936 .1937193819391940 . .1941. .19421943 . . .1944 . . .19451946 . _ _1947. _. .19481949
1950 ._.19511952195319541955195619571958195919601961196219631964 . . .19651966196719681969"
1967: IIIIIIIV
1968: 1IIIIIIV
1969: 1|lIIIIV 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
15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641 151.749.950.355.758 966.376.182.479.287.988.7
Manufacturing
Total
5.23.91.3
- . 5- . 41.12.13.23.82.33.35.59.5
11.813.813.29.79.0
13.617.616.220.924.621.622.019.926.024.724.019 326.324 423.326.628 832.739.342.639.044.444.0
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
13.612 011.414.115 817.822 824 020.924.523.7
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
11.811.910.710.012.712.411.912.513.014.916.618.618.119.920.2
Trans-porta-tion,com-muni-cation,
andpublic
utilities
1.81.2.5.2.0.4.4.7.8.5
1.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85 97.07.57.98.59.5
10.111.111.9.10.811.611.9
and
Allotherin-
dus-tries
3.41.9.2
- . 9- . 8
.3
.91.72.22.12.03.03.75.16.26.76.78.59.9
12.511.612.713.513.312.613.415.215.615.815 918.417.919.120.520 623.525.627.929.431.932.9
Cor-po-rateprof-itsbe-fore
taxes
10.03.7
- . 4- 2 . 3
1.02.33 66.36.84.07.0
10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241 452.149 750.355.459 466.877 884.280.391.194.3
Cor-po-ratetaxlia-bil-ity i
1.4.8.5.4
'.71.01.41.51.01.42.87.6
11.414.112.910.79.1
11.312.510.417.822.319.420.317.721.621.721.219 023.723.023.124.226 328.331.334.333.041.343.5
Corporate profitsafter taxes
Total
8.62.9
- . 9- 2 . 7
.41.62.64.95.32.95.67.2
10.110.111.111.29.0
15.520.222.718.524.921.619.620.420.627.027.226.022 328.526 727.231.233 138.446 549.947.349.850.8
Divi-dendpay-
ments
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
10.511.311.711 612.613 413.815.216 517.819 820.821.523.124.6
Un-dis-trib-utedprof-its
2.8- 2 . 6- 4 . 9- 5 . 2- 1 . 6- 1 . 0
.4
.6- . 21.83.25.75.96.66.54.49.9
13.915.611.316.013.011.011.511.316.515.914.210 815.913 213.516.016 620.626.729.125.926.726.3
Corpo-rate
capitalcon-
sump-tion
allow-ances 2
4.24.34.34.03.83.63.63.63.63.73.73.84.25.05.46.16.44.75.87.07.98.8
10.311.513.215.017.418.920.822.023.524.926.230.131.833.936.439.542.645.949.1
Profitsplus
capitalcon-
sump-tion
allow-ances 3
12.87.23.51.34.25.26.38.58.96.69.3
11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844 352.051.653.561.364 872.382.989.590.095.799.9
Seasonally adjusted annual rates
78.378.379.181.182.588.290.690.389.589.288.8
39.238 838 339.541.144.945.446.245.144 943.8
21.020 820 421.222.025.125.025.824.723 923.8
18.217.918 018.319.119.820.420.420.321.020.0
10.910.710.810.911.311.512.011.611.811.711.9
28.228 830.130.730.131.833.132.632.632 633.1
78.479 179 584.487 99̂0.7
91.594.595.595 492.5
32.332 632 534.539.941.141.442.943.944.142.8
46.146 447.049.947.949.750.051.651.751.349.7
21.121.722.021.122.222.923 623.823.824.324.925.2
24.924.825.028.825.726.726.527.827.927.024.9
41.542.243.043.844.845.846.246.747.748.649.650.5
87.588.690.093.792.895.596.398.499.4
100.099.3
1 Federal and State corporate income and excess profits taxes.2 Includes depreciation and accidental damages.3 Corporate profits after taxes plus corporate capital consumption allowances.Note.—Corporate profits tax and related items for 1969 reflect repeal of investment tax credit.Source: Department of Commerce, Office of Business Economics.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E C—72.—Sales, profits, and stockholders' equity, all manufacturing corporations {exceptnewspapers*), 1947-69
{Billions of dollars]
Year orquarter
194719481949
1950 . .195119521953 .1954
195519561957 .19581959
I9601961196219631964
1965196619671968
1967: 1IIIIIIV
1968: 1IIIIIIV
1969: l»I P . . . .Ill i
All manufacturingcorporations
Sales(net)
150.7165.6154.9
181.9245.0250 2265.9248.5
278.4307.3320.0305.3338.0
345.7356.4389.9412.7443.1
492.2554.2575.4631.9
137.0145 1141.5151.8
148.9158.9155.7168.4
162.8176.1172.4
Profits
Beforetaxes
16.618.414.4
23.227.422.924.420.9
28.629.828.222.729.7
27.527.531.934.939.6
46.551.847.855.4
11.412 611.012.8
12.514.813.214.9
14.115.813.9
Aftertaxes
10.111.59.0
12.911.910.711.311.2
15.116 215.412.716.3
15.215.317.719.523.2
27.530.929.032.1
6.77.66.77.9
7.48.37.68.7
7.98.98.0
Stock-holders'equity2
65.172.277.6
83.398.3
103.7108.2113.1
120.1131.6141.1147.4157.1
165.4172.6181.4189.7199.8
211.7230.3247.6265.9
240.9245.6249.7254.3
258.6263.4268.4273.2
281.5288.0293.0
Durable goods industries
Sales(net)
66.675.370.3
86.8116.8122.0137.9122.8
142.1159.5166.0148.6169.4
173.9175.2195.5209.0226.3
257.0291.7300.6335.5
71.177.072.680.0
78.886.081.089.8
86.094.289.8
Profits
Beforetaxes
7.68.97.5
12.915.412.914.011.4
16.516.515.811.415.8
14.013.616.718.521.2
26.229.225.730.7
6.27.25.47.0
6.78.66.88.6
7.88.97.1
Aftertaxes
4.55.44.5
6.76.15.55.85.6
8.18.37.95.88.1
7.06.98.69.5
11.6
14.516.414.616.5
3.44.13.14.0
3.74.53.74.7
4.14.73.8
Stock-holders'equity 2
31.134.137.0
39.947.249.852.454.9
58.865.270.572.877.9
82.384.989.193.398.5
105.4115.2125.0135.6
121.6123.7126.0128.6
130.9134.1137.2140.4
143.4146.8148.9
Nondurable goodsindustries
Sales(net)
84.190.484.6
95.1128.1128.0128.0125.7
136.3147.8154.1156.7168.5
171.8181.2194.4203.6216.8
235.2262.4274.8296.4
65.968.268.971.8
70.172.974.878.6
76.881.982.7
Profits
Beforetaxes
9.09.57.0
10.312.110.010.49.6
12.113.212.411.313.9
13.513.915.116.418.3
20.322.622.024.7
5.25.45.65.9
5.86.26.46.3
6.36.96.8
Aftertaxes
5.66.24.6
6.15.75.25.55.6
7.07.87.56.98.3
8.28.59.2
10.011.6
13.014.614.415.5
3.33.53.63.9
3.73.84.04.1
3.84.24.2
Stock-holders'equity2
34.038.140.6
43.551.153 955.758.2
61.366 470.674.679.2
83.187.792.396.3
101.3
106.3115.1122.6130.3
119.3121.8123.6125.7
127.7129.4131.2132.9
138.0141.2144.1
11 ncludes 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 Manufacturing
Corporations," Federal Trade Commission and Securities and Exchange Commission.Data are not necessarily comparable from one period to another due to changes in accounting procedures, industry
classifications, 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.
2 6 lDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E G—73.—Relation of profits after taxes to stockholders1 equity and to sales, all manufac-
turing corporations {except newspapers1), by industry group, 1948-69
Year orquarter
Allman-ufac-tur-ingcor-
pora-tions(ex-cept
news-pap-ers*)
Durable goods industries
Totaldur-able 2
Mo-tor
vehi-clesand
equip-ment
Air-craftandparts
Elec-tricalma-
chin-ery,
equip-ment,and
sup-plies
Ma-chin-ery
(ex-ceptelec-trical)
Fab-ri-
catedmetalprod-ucts
Pri-maryironandsteel
in-dus-tries
Pri-marynon-fer-rousmetal
in-dus-tries
Stone,clay,and
glassprod-ucts
Fur-nitureandfix-
tures
Lum-berand
woodprod-ucts(ex-cept
furni-ture)
In-stru-mentsandre-
latedprod-ucts
Ratio of profits after Federal taxes (annual rate) to stockholders' equity—percent 3
19481949
1950195119521953195419551956195719581959
19601961196219631 9 6 4 . . . . . . . .196519661967.1968
1968: IIIIIIIV
1969: lIP....
16.011.6
15.412.110.310.59.9
12.612.310.98.6
10.4
9.28.99.8
10.311.613.013.411.712.1
11.512.611.412.8
11.312.410.9
15.712.1
16.913.011.111.110.313.812.811.38.0
10.4
8.58.19.6
10.111.713.814.211.712.2
11.313.410.713.3
11.412.910.3
19.922.1
25.314.313.913.914.121.713.114.28.2
14.5
13.511.416.316.716.919.515.911.715.1
16.517.97.4
18.5
15.414.57.2
17.713.28.1
7.39.8
12.711.312.215.214.412.914.2
13.614.414.314.5
12.111.09.7
16.113.6
20.914.013.713.112.412.311.412.510.212.5
9.58.9
10.010.111.213.514.812.812.2
11.811.411.513.9
11.211.311.2
16.311.6
14.113.011.39.88.6
10.312.610.76.99.7
7.57.89.19.6
12.514.115.012.912.3
11.113.612.312.1
11.214.611.7
17.010.4
16.013.410.19.87.6
10.010.79.37.38.0
5.65.97.98.3
10.113.214.712.711.7
10.012.512.112.3
10.812.511.1
14.710.0
14.312.38.5
10.78.1
13.512.711.47.28.0
7.26.15.47.08.89.8
10.27.77.6
8.610.54.56.77.48.76.1
14.28.1
15.113.811.611.110.415.516.49.36.07.9
7.17.17.57.69.8
11.914.810.910.8
8.911.59.9
12.6
11.312.911.5
15.013.1
17.714.211.711.812.515.614.912.410.212.7
9.98.98.98.79.6
10.39.98.29.2
3.911.712.09.14.9
11.912.2
15.98.1
15.211.38.68.26.09.2
11.68.56.38.9
6.54.97.98.3
10.113.414.212.112.2
9.112.812.514.6
11.013.413.5
19.29.1
17.511.98.57.16.3
11.18.74.75.79.4
3.64.15.68.29.9
10.110.08.6
14.6
10.916.116.315.1
17.118.98.6
14.012.1
16.713.211.611.412.312.512.412.010.613.1
11.610.612.012.114.417.520.918.016.6
14.115.518.018.4
13.816.015.7
Profits after taxes per dollar of sales—cents
194819491950...19511952195319541955..19561957195819591960196119621963196419651966196719681968: I
II.III . .IV..
1969: 1 1 . . .IM.IIP
7.05.87.14 84.34.34.55.45.34.84.24.8
4.44.34.54.75.25.65.65.05.15.05.24.95.2
4.95.14.6
7.16.47.75.34.54.24.65.75.24.83.94.8
4.03.94.44.55.15.75.64.84.9
4.75.24.55.2
4.85.04.3
6.97.98.34.74.73.95.16.95.25.44.06.3
5.95.56.96.97.07.26.24.95.7
6.16.23.46.3
5.65.23.1
~~2.y2.41.6
1.41.82.42.32.63.33.02.73.2
2.93.23.43.3
3.53.33.0
5.95.77.25.04.54.14.54.43.84.23.84.4
3.53.53.73.84.24.84.84.44.3
4.24.14.14.7
4.03.94.0
7.36.47.35.54.84.24.45.15.44.83.74.8
3.94.14.54.75.86.26.45.75.5
5.15.75.65.4
5.26.15.3
7.15.16.85.04.03.63.13.84.03.63.13.2
2.42.53.13.23.74.54.94.54.1
3.64.44.24.1
3.84.13.6
7.66.57.95.84.75.35.37.26.76.65.45.4
5.14.63.94.85.65.75.84.84.6
5.15.52.94.6
4.54.83.6
9.06.9
10.27.86.76.36.68.39.36.64.75.8
5.45.35.55.36.57.38.26.86.2
5.46.45.96.9
6.46.86.2
8.68.6
10.17.16.66.57.48.68.27.56.87.9
6.65.85.65.35.65.95.64.85.2
2.66.46.34.9
2.95.75.9
5.53.35.13.42.72.62.12.93.42.62.02.7
2.11.62.32.42.93.73.93.53.42.83.63.53.8
3.13.63.8
9.95.99.45.54.13.53.45.43.92.32.84.2
1.71.92.53.33.94.03.83.45.34.45.75.85.4
6.36.63.2
7.87.18.66.14.84.65.56.05.85.75.46.5
5.95.45.96.07.28.69.58.58.1
7.47.68.78.5
7.37.88.1
See footnotes at end of table.
262Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-73.—Relation of profits after taxes to stockholders* equity and to sales, all manufac-turing corporations {except newspapers1), by industry group, 1948-69—Continued
Year orquarter
19481949.19501951195219531954195519561957 _.19581959.. . .1960196119621963 . . .1964..1965.1966196719681968: 1
I I . . . .Ill —IV.. . .
1969: 1 »... .II i._.IIH- .
1948194919501951195219531954... .19551956... .195719581959.196019611962196319641965..1966196719681968: 1
I I — .III . . .I V - . .
1969: \K...II i . . .III*. .
Nondurable goods industries
Totalnon-dur-
able::
16.211.214.111.29.79.99.6
11.411.810.69.2
10.49.89.69.9
10.411.512.212.711.811.911.711.712.112.211.111.911.5
Foodandkin-dredprod-ucts
To-baccoman-ufac-tures
Tex-tilemill
prod-ucts
Ap-pareland
relatedprod-ucts
Paperand
alliedprod-ucts
Print-
andpub-lish-ing
(ex-cept
news-pa-
pers i)
Chem-icalsand
alliedprod-ucts
Petro-leumrefin-ing
Rub-berandmis-
cella-neousplasticprod-ucts
Ratio of profits after Federal taxes (annualjrate) to stockholders' equity—percent 3
12.811.812.38.17.68.18.18.99.38.78.79.38.78.98.89.0
10.010.711.210.810.89.9
10.211.411.49.6
10.711.9
13.612.611.59.58.49.4
10.211.411.712.513.513.413.413.613.113.413.413.514.114.414.413.513.615.914.812.114.815.6
18.77.6
12 78.24.24.61.85.75.84.23.57.55.85.06.26.18.5
10.910.17.68.87.19.19.59.37.28.87.7
12.17.5
10.12.94.45.14.56.18.16.34.98.67.77.29.37.7
11.712.713.312.013.012.09.3
15.015.310.311.415.9
16.410.716 213.910.510.19.9
11.511.68.98.19.58.57.98.18.19.39.4
10.69.19.78.5
10.59.2
10.69.8
11.19.6'
14.711.411.510.39.19.49.2
10.213.011.79.0
11.410.68.5
10.39.2
12.614.215.613.012.510.910.714.813.810.813.112.4
15.813.217.812.210.910.711.614.714.213.311.413.712.211.812.412.914.415.215.113.113.313.413.612.813.312.913.812.4
15.213.313.412.713.413.912.510.09.8
10.110.310.111.311.411.812.412.512.312.911.912.112.212.011.911.4
12.38.7
16.914.811.111.310.613.212.211.19.1
11.09.19.39.69.2
10.611.712.210.312.310.813.511.812.99.6
11.99.5
Leatherand
leatherprod-ucts
10.46.2
10.92.15.86.05.98.57.27.05.i8.S6.34.46.96.9
10.511.612. <11. S13. t13.312. (12 J14.48.68.C9.4
Profits after taxes per dollar of sales—cents
6.85.46.54.54.14.34.45.15.34.94.44.94.84.74.74.95.45.55.65.35.25.35.25.35.25.05.15.6
3.33.33.42.01.92.02.12.32.42.22.22.42.32.32.32.42.72.72.72.62.62.52.52.72.72.42.62.8
5.25.14.93.83.23.74.24.85.05.25.45.45.55.75.75.95.95.95.95.95.55.75.56.05.14.65.25.6
8.34.15.83.41.92.21.02.62.61.91.63.02.52.12.42.33.13.83.62.93.12.73.23.43.22.73.22.8
3.12.12.8.60
.?
,3.6
.0f>
.43
1.6
2.12.32.42.32.42.51.92.72.62.22.23.0
8.56.58.86.65.75.45.66.16.15.04.75.25.04.74.64.55.14.95.44.74.74.45.14.55.04.75.24.7
5.24.54.53.73.33.43.43.64.23.73.14.03.62.83.43.24.34.85.14.44.13.83.6i.81.31.1i.9
4.7
8.88.2
10.36.56.16.16.88.38.07.67.07.97.57.37.47.57.97.97.86.96.87.06.96.66.66.76.86.3
11.110.110.410.611.111.610.69.59.59.9
10.39.7
10.810.911.111.211.010.711.210.610.710.310.610.210.0
4.73.85.84.53.63.84.04.44.44.23.54.03.63.83.73.64.14.34.43.94.54.24.84.54.63.74.13.5
3.32.23.7
1.11.11.!2.52.12.1i.;2.21.6i.:I.II.I2.12.13.13.13.23.33.:3.23.(2.42.22.6
1 Includes newspapers beginning 1969.2 Includes certain industries not shown separately.a 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-72.
Sources: Federal Trade Commission and Securities and Exchange Commission.
263
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—74.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1958-68[Billions of dollars]
Source or use of funds
Sources, total-
Internal sources l
Undistributed profits iCorporate inventory valuation ad-
justmentCapital consumption allowancesL
External sources
Stocks..BondsMortgagesBank loans n.e.cOther loansTrade debtProfits tax liabilityOther liabilities
Uses, total _..._-<-
Purchases of physical assets
Nonresidential fixed investment-Residential structuresChange in business inventories. _
Increase in financial assets
Liquid assetsDemand deposits and cur-
rencyTime depositsU.S. Government securitiesOpen-market paper.State and local obligations
Consumer creditTrade creditOther financial assets
Discrepancy (sources less uses)
1958
44.2
29.5
8.3
-.321.4
14.7
2.15.72.9-.3-.24.7
-2.62.4
40.5
27.3
28.41.4
-2.5
13.2
2.7
1.5.9.0
-.2.5
.68.31.7
3.7
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
-1.0-.46.6
J
.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
2.54.63.9.7.65.41.41.7
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
.64.64.53.0.0
4.6.6
5.2
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
l.*94.93.7.25.31.93.7
63.2
45.6
38 62.64.3
17.7
4.7
-.83.9
.2
1.08.13.9
3.8
1964
71.8
50.5
18.3
-.532.8
21.3
1.44.03.63.8.9
3.6.5
3.5
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
.05.43.910.6.69.12.24.6
85.8
62.8
52.82.07.9
23.1
1.7
-1.53.9
-1.6
'.5
1.215.15.1
7.2
1966
100.6
61.2
24.7
-1.838.2
39.4
1.210.24.28.41.47.3.26.5
92.5
77.1
61.61.114.4
15.5
1.9
,7
-~1.*22.01.0
1.211.31.0
8.0
1967
94.2
61.2
21.2
-1.141.2
33.0
2.314.74.56.41.42.6
-4.15.2
85.9
72.5
63.82.26.4
13.5
.6
-2.24.1
-2.5
-;!
.98.83.2
8.2
1968
110.4
63.1
22.0
-3.244.3
47.3
- . 812.95.89.63.65.73.76.9
103.5
76.9
68.02.36.5
26.6
10.1
1.32.21.84.5.4
1.714.8
.1
6.9
*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.
264Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-75.—Current assets and liabilities of United States corporationss 1939-69[Billions of dollars]
End of yearor quarter
1939194019411942 .1943194419451946 .
19471948 . . .1949195019511952 _1953.195419551956 . .1957.19581959 . .19601961New series5
1961 . . .19621963196419651966196719681967:1
IIMLIV
1968:1IIIIIIV
1969:1IIIII
Current assets
Total
54.560.372.983.693.897.297.4
108.1
123.6133.0133.1161.5179.1186.2190.6.194.6224.0237.9244.7255.3277.3289.0306.8
304.6326.5351.7372.2410.2442.6463.1506.3443.2444.2451.9463.1470.9481.2491.5506.3515.7526.7536.8
Cashon
handandin
banks1
10 813.113. &17.621.621.621.722.8
25.025.326.528.130.030.831.133.434.634.834.937.436.337.241.1
40.743.746.547.349.949.351.455.146.646.948.351.449.350.551.955.151.952.651.2
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
19.219.620.218.617.015.412.213.714.111.310.612.214.513.012.613.715.413.011.8
Re-ceiv-ablesfromU.S.Gov-ern-
ments
0.1.6
4.05.04.72.7.7
Notesandac-
countsreceiv-able
22.123.927.423.321.921.823.230.0
38-3424-
1.12.72.82.62.42.32.62.82.82.93.13.4
3.43.73.63.43.94.55.15.14.44.64.75.14.84.74.85.14.84.84.6
.4
.055.758.864.665.971.286.695.199.4
106.9117.7126.1135.8
133.3144.2156.8169.9190.2205.2214.6235.6205.2207.6211.5214.6216.6223.5229.4235.6239.8247.1254.7
In-ven-
tories
18.019.825.627.327.626.826.337.6
44.648.945.355.164.965.867.265.372.880.482.281.988.491.895.2
95.2100.7107.0113.5126.9143.1152.3164.6146.6147.7149.7152.3155.0158.3162.1164.6169.2174.0178.7
Othercur-rentas-
sets <
1.41.51.41.31.31.42.41.7
1.61.61.4
1.72 12.42.43.14 25.96.77 59.1
10.611.4
12.914.717.819.622.325.127.632.226.426.027.127.630.731.230.832.234.635.335.7
Current liabilities
Total
30.032.840.747.351.651.745 851.9
61.564.460.779 892.696.198.999.7
121.0130.5133.1136.6153.1160.4171.2
155.8170.9188.2202.2229.6?54.4264.3293.9?5? 4?5?,5256.9264.3266.6273.5282.7293.9300.8310.4322.2
Ad-vances
andpre-pay-
ments,U.S.Gov-ern-
ment3
0.6.8
2.02.21.8.9.1
.-" *.373937
.41.32.32.22.42.32.4£ 31.71.71.81.8
1.82.02.52.73.14.45.86.44.95.45.75.86.16.26.36.46.97.27.5
Notesandac-
countspay-able
21.922.625.624.024.125.024.831.5
- ' — •<•
.6
.3
.547.953.657.057.359.373.881.584,388.799.3
105.0112.8
110.0119.1130.4140.3160.4179.0186.4205.2176.3179.8181.4186.4184.7190.9196.8205.2206.1215.3222.9
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
14.215.216.517.019.118.314.616.817.812.213.014.616.514.815.116.819.115.416.4
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
29.834.538.742.246.952.857.465.453.555.156.757.459.361.564.665.468.8-72.575.4
Network-
ingcapi-tal
24.527. £32.336.342.145.651.656.2
62.168.672.481.686.590.191. E94.9
103. C107.4111.6118.7124.2128.6135.6
148. f155.6163.1170. C180.7188.2198.8?\?A190.7191.6195. C198.8?04.?207.1208.7212.4215. C216.3214. (
1 Includes time certificates of deposit.2 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.
* Includes marketable investments (other than Government securities and time certificates of deposit) as well as sundrycurrent assets.
s Generally reflects definitions and classifications used in "Statistics of Income" for 1961.
Note.—Data relate to all United States corporations, excluding banks, savings and loan associations, insurance com-panies, and beginning with the new series for 1961, investment companies. Year-end data through 1956 are based on"Statistics of Income" (Treasury Department), covering virtually all corporations in the United States. "Statistics ofI ncome" 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.
265
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C--76.—State and municipal and corporate securities offered, 1934-69
[Millions of dollars]
Year or quarter
State andmunicipalsecurities
offeredfor cash
(principalamounts)
939
1,2321,121908
1,1081,128
1,238956524435661
7951,1572,3242,6902,907
3,5323,1894,4015,5586,969
5,9775,4466,9587,4497,681
7,2308,3608,55810,10710,544
11,14811,08914,28816,37411,442
4,0463,7993,0383,404
3,6583,7714,5114,435
2,7383,4262,3762,902
Corporate securities offered for cash
Totalcorpo-rate
offer-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
15,99218,07424,79821,96626,790
5,4646,2086,8326,294
5,1785,7055,1335,950
6,2197 3546,3326,880
Type of corporate security
Com-mon
stock
19
222722852587
1081103456163
397891779614736
8111,2121,3691,3261,213
2,1852,3012,5161,3342,027
1,6643,2941,3141,0112,679
1,5471,9391,9593,9467,740
298518447696
740832986
1,389
1,7862,1411,6162,200
Pre-ferredstock
2714068698
183167112124369
7581,127762492425
631838564489816
635636411571531
409450422343412
725574885637690
92208231354
249124179
236128182150
Bondsandnotes
371
2,2254,0291,6182,0441,980
2,3862,390917990
2,669
4,8554,8825,0365,9734,890
4,9205,6917,6017,0837,488
7,4208,0029,9579,6537,190
8,0819,4208,96910,85610,865
13,72015,56121,95417,38318,360
5,0745,4826,1545,244
4,1894,7493,9674,477
4,1975,0854,5344,530
Industry of corporate user
Manu-fac-
turing 1
67
7971,3321,120848604
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
5,4177,07011,0586,9796,310
2,5023,0842,8802,591
1,9071,703',657,712
,407,774,862
1,270
Elec-tric,
andwater 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
2,9363,6654,9355,2816,700
1,0111,3041,2811,339
1,4421,2441,1601,435
1,3451,8791,5441 930
Trans-porta-tions
176
12679734455186
32436648161609
1,454711286755800
813494992595778
893724824824967
718694567957982
1,0131,9722,0671,8752,120
503437659469
404470427574
807612371320
Com-munica-
tion
902571
399612760882720
1,1321,4191,4621,424717
1,0501,8341,3031,1052,189
9472,0031,9791,7662,190
548556601274
422536490319
474432684600
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.3 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."
366
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-77.—Common stock prices,
Year or month
193919401941194219431944 _ . . .1945 __., . . .1946 .1947194819491950.195119521953195419551956...1957195819591960. .19611962 . . .196319641965 . . .1966 . . . . . . . .19671968.1969 P
1968: JanFebMarAprMay....JuneJulyAugSeptOctNov....Dec
1969: JanFeb .MarAprMayJuneJuly .AugSeptOctNovDeep _ _
earnings, and yields, and stock market credit, 1939-69
Standard & Poor's common stock data
Price index *
Total(500
stocks)
Indus-trials(425
stocks)
Publicutilities
(55stocks)
Rail-roads(20
stocks)
1941-43=10
12.0611.029.828.67
11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8495.0490.7589.0995.6797.87
100.53100.3098.11
101.34103.76105.40106.48102.04101.4699.30
101.26104.6299.1494.7194.1894.5195.5296.2191.11
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
107.49107.13103.1198.3396.77
104.42107.02109.73109.16106.77110.53113.29114.77116.01110.97110.15108.20110.68114.53108.59103.68103.39103.97105.07105.86100.48
16 3415.0510.937.74
11.3412.8116.8420.7618.0116.7717.8719.9620.5922 8624.0327.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969.9176.0868.2168.1066.4262.6468.0265.6162.6263.6662.9265.2167.5566 6066.7766.9370.5970.5468.6569.2466.0765.6366.9163.2961.3259.2057.8458.8059 4655.28
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 7248.8445.9543 3842.3541.6844.7948.0051.7251.0148 8051.1154.2653.7455.1954.1154.7850.4649.5349.9746.4343.0042 0442.0341.7540 6336.69
Divi-dend
yield 2(per-cent)
4 055.596.827.244.934.864.173.854.935.546.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.403.203.073.243.133.283.343.123.073.003.003.093.012.942.922.933.063.103.173.113.023.183.343.373.333.333.313.52
Price/earn-ings
ratio 3
13 8010.258.278.80
12.8413.6616.3317.699.366.916.646.639.27
10.479.69
11.2511.5114.0512.8916.6417.0517.0921.0616.6817.6218.0817.0814.9217.5217.20
16.40
17.23
17.61
17.54
17.68
16.59
15.70
Stock market credit
Customer credit (excludingU.S. Government
securities)
TotalNet
debitbal-
ances*
Bankloans
to"others"«
Bankloans tobrokers
anddealers •
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
10,34712,48810,02610,2189,8409,622
10,04710,62511,13811,27710,97611,23811,41611,66612,48811,79311,94911,09910,80711,24010,95110,2169,6849,6559,8169,635
10,026
942473517499821
1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,0795,5215,3297,8839,7907,4477,7977,4197,2487,7018,2688,7288,8618,4898,7238,8599,0299,7909,0429,1488,3188,0448,4748,2147,5157,0197,0397,2437,1117,447
353432503515469428561573648780
1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271,974
«2,2492,1152,4642,6982,5792,4212,4212,3742,3462,3572,4102,4162,4872,5152,5572,6372,6982,7512,8012,7812,7632,766
7 2,7372,7012,6652,6162,5732,5242,579
715584535850
1,3282,1372,7821,471
7841,3311,60*1,7421,4192,0022,2482,6882,8522 2142,1912,56$2,58'2,6143,3914 3524,7544,631
8 4,2774,5015,0825,7965,1465,8265,0524,3054,3764,2824,5846,3276,1566,4525,6424,96C5,7964,53S4,3343,6974,36^4,05:
7 4,37S4,4623,38$3,5753,5884,1975,14€
1 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.s Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter. Annual ratios are
averages of quarterly data.4 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.
«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; not strictly comparable with earlier data.Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New York Stock
Exchange.
267Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-78.—Business formation and business failures, 1929-69
Year or month
1929
1930193119321933 31934193519361937193819393
19401941 -19421943194419451946194719481949
195019511952. .195319541955195619571958195919601961.196219631964 .1965.19661967...1968 .1969
1968* JanFebMarAprMay . .June
JulyAug .Sept . . .Oct. .NovDec
1969: JanFebMar .AprMayJuneJulyAugSeotO c t . : : . . . . : . . . . :Nov . - .Dec
Indexof net
businessformation
(1957-59=100)
123.196.7
102.3102.8108.0103.599.8
107.6103.298.397.1
104.699.895.498.0
100.6104.5106.0105.5107.7117.8
Newbusinessincorpo-rations(num-ber)
132,916112,89796,34685,64093,09283,77892,946
102,706117,411139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,897200,010206,569233,635
Business failures 1
Busi-ness
failurerate 2
103.9121.6133.4154.1100.361.161.747.845.961.169.663.054.544.616.46.54.25.2
14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038.637.3
Seasonally adjusted
113.5114.7113.8112.8112.7114.5119.0119.1121.2123.9123.4125.3125.2125. 8123.2123.9123.1123.6124.6124.1123.0123.5120.5
17,22318,01417,97418,65918,79619,19719,53020,01120,98621,39421,15520,29220,57822,19921 35323,46723,23023,71123,77122,99123,14124,68322,749
38.237.544.343.540.936.941.036.540.337.535.729.932.035.638.036.436.939.834.936.039.939.540.938.2
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
844832
1,0211,003
909751810734705768696563689731868823812792689702726815759748
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
10,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,1447,8297,192
651682839833707616646607598614569467545566722643661630537563573600570582
$100,000andover
744947
1,0551,625
979670553322287283227219163123664650
126371397538416432530787860856
1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201,8071,962
19315018217020213516412710715412796
144165T146180151162152139153215189166
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
941.01,142.1
104.579.688.680.191.474.790.365.858.765.458.783.475.090.084.1
118.892.691.9
112.762.873.7
116.4127.196.8
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
161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3
20.421.426.124.821.918.619.218.319.118.617.914.818.117.723.419.721.619.017.818.617.919.218.719.4
$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
84.158.262.555.369.556.071.147.539.546.840.868.656.972.360.799.171.072.995.044.255.897.2
108.477.4
* 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.
2 Failure rate per 10,000 listed enterprises.3Series revised; not strictly comparable with earlier data.Sources: Department of Commerce (Bureau of the Census) and Dun & Bradstreet, Inc.
268Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURE
Year orquarter
1929.. ._
1930 .1931.1932193319341935193619371938939
940941. .942943944.945946947948. .949
950951952953954955956957958959
960961962. _ _363364365
967..968369*
968: 1IIIIIIV
969: 1 . . .IIIIIIV v
T A B L E G—79.—Income from
Personal incomereceived by totalfarm population
Fromall
sources
Fromfarm
sources1non-farm
sources2
agriculture, 1929-69
Income received from farming
Realized gross
Totals
Cashreceipts
frommarket-
ings
Produc-tion ex-penses
Net to farmoperators
Exclud-ing netinven-tory
change
Includ-ing netinven-tory
change *
Billions of dollars
5.47.77.29.07.27.4
7.610.114.116.516.617.220.021.123.819.5
20.422.722.119.818.417.617.817.719.518.1
18.719.720.420.620.623.624.923.924.927.1
3.25.44.66.24.74.8
4.86.8
10.112.112.212.815.515.818.013.3
14.116.215.413.412.511.411.211.012.811.0
11.512.212.312.111.313.514.413.013.114.5
2.22.32.62.72.52.6
2.83.33.94.44.44.44.65.35.86.2
6.36.56.76.45.96.26.66.66.77.0
7 27.58.28.59.3
10.010.510.911.812.6
13.9
11.58.46.47.18.69.7
10.811.410.110.6
11.113.918.823.424.425.829.534.134.731.6
32.337.136.835.033.633.134.334.037.937.5
38.139.841.342.342.644.949.749.051.154.6
11.3
9.16.44.75.36.47.18.48.97.77.9
8.411.115.619.620.521.724.829.630.227.8
28.532.932.531.029.829.530.429.733.533.5
34 235.136.437.437.239.343.342.744.447.4
7.7
6.95.54.54.44.75.15.66.25.96.3
6.97.8
10.011.612.313.114.517.018.818.0
19.422.322.621.321.621.922.423.325.226.1
26 427.128.629.729.530.933.434.836.338.6
6.3
4.52.91.92.73.94.65.15.24.24.3
4.26.18.8
11.812.112.815.017.115.913.6
12.914.814.113.712.011.211.910.712.711.4
11.712.612.612.613.114.016.314.214.816.0
6.2
4.33.32.02.62.95.34 36.04.44.4
4.56.59.9
11.711.712.315.115.417.712.8
13.716.015.113.112.511.511.411.313.511.5
12.113.013.213.212.315.016.314.714.716.2
Net income perfarm, includingnet inventory
change
Currentprices
1957-59prices5
Dollars
945
651506304379431775639905668685
7061,0311,5881,9271 9502,0632,5432,6153,0442,233
2,4212,9462,8962,6262,6062,4632,5352,5903,1892,795
3,0493,3993,5863,7083,5644,4875,0194,6834,8055,468
1,750
1,3021 177
822997
1,0021,8021 4862,0111,5531,631
1,6812,2913,0543,3223,1973,2233,5823,1513,4592,627
2,8153,1343,0482,7942,7722,5932,6412,6163,1892,767
2,9893,3323,4823,5653,3944,1924,5634,14^4,1074,446
Seasonally adjusted annual rates
50.050.951.851.9
52.955.155.355.1
43.444.245.045.0
46.048.248.047.5
35.636.136.537.2
37.938.838.838.9
14.414.815.314.7
15.016.316.516.2
14.914.414.914.5
15.016.516.916.4
4,8804,7104,8804,750
5,0505,5505,6905,520
4.21C4,03C4.14C3,99C
4,1704,51(4,6304,420
1 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.* Includes net change in inventory of crops and livestock valued at the average price for the year.«Income in current prices divided by the index of prices paid by farmers for family living items on a 1957-59 base.
Source: Department of Agriculture.3 7 2 - 1 1 1 O — 7 0 - 1 8 269
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—80.—Farm production indexes,
11957-59=100]
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 P..
Farmout-put*
62
6166645951
6155696768
7073828083
8184818887
8689929393
969795102103
106107108112111
114113118120121
Crops
Total 2
73
6977736554
7059817675
7879898388
8589859792
8991959493
969593104103
108106107111108
115111117120121
Feedgrains
62
5663735633
6038676565
6671817478
7582639180
8175797781
868593101106
1099910010895
111110124119123
Hayand
forage
79
6672746964
8266758175
8686939190
9387848483
8992909292
989410110297
103102106106107
112110115114117
Foodgrains
68
7479634745
5554747763
6979837288
929511110792
868510910088
83878212197
11510698102114
117118135141130
Vege-tables
73
7475767380
8175828181
8384899792
94105919794
9689909593
9610298102100
102108106106101
108109112113111
Fruitsandnuts
75
7392757671
9070938496
9399988498
891061019298
98100979899
9910394102104
98102103100101
106108112109131
Cot-ton
120
11313810510578
861011549796
1028810593100
747197122131
82124124134111
1201088993118
116116121125124
12178608982
To-bacco
88
9589588063
76689180110
84738181113
114134122115114
117135130119130
12712696100104
112119134135129
10710911499104
Oilcrops
13
1414131113
2116182229
3437566050
5452556761
7165636371
78929111198
104121122128128
153164170192196
Livestock and products
Total 3
63
6465666761
5963626570
7175849186
8683828085
8892929396
99999799104
102107108111114
111114117118118
Meatani-mals
62
6366677059
5360586371
7276879788
8482817983
8995959498
1031009698106
103107109114117
111116120123122
Dairyprod-ucts
75
7678797978
7879798182
8489929192
9594939093
9392929798
9910110110099
101103104103105
103100999898
Poul-try,andeggs
44
4544444441
4144444548
4954627171
7469686774
7881828487
869495101104
104112112115119
124132138135139
1 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.
2 Includes production of seeds and of feed for horses and mules and certain items not shown separately.s Includes certain items not shown separately.
Source: Department of Agriculture.
27ODigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-81.—Farm population, employment, and productivity, 1929—69
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..
I960. .1961. .1962..1963..1964..
1965..1966..1967..1968..1969 v.
Farm population(April l ) i
Num-ber
(thou-sands)
30,580
30,52930,84531,38832,39332,305
32,16131,73731,26630,98030,840
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
12,36311,59510,87510,45410,300
As per-cent oftotalpopu-lations
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
6.45.95.45.25.1
Farm employment(thousands) s
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
8,3817,8537,6007,5037,342
7,0576,9196,7006,5186,110
5,6105,2144,9034,7464,582
Familyworkers
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
6,3455,9005,6605,5215,390
5,1725,0294,8734,7384,506
4,1283,8543,6503,5323,429
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
1,8851,890*., 827,780,604
,482,360,253,213,153
Farm output
Perunit oftotalinput
Per man-hour
Total CropsLive-stockand
products
Index, 1957-59=100
63
6369696559
6962737472
7275827982
8285828886
8586899091
949696103101
105106107108107110106108108108
28
2830302827
3129333535
3639424244
4649505657
6162687174
808691103106
115122129138144
156164174182183
28
2730302727
3128333534
3739434144
4650505757
6361676973
778390105105
115118124132135
151154162170168
48
4747474643
4446464850
5051565856
5859616266
6872747680
858992100108
113123130140152
159170183193198
iFarm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian populationliving on farms, regardless of occupation.n farms, regardless o o c u p t i n .
l population of United States as of July 1 including Armed Forces abroad.3 Includes persons doing farm work on all fa Th d t b l i h d b th
S i diff f tho g i c l trms. 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.CAA m A nth I if r*iwyt\r+ An " C a r m I «Knr "
f e e c in th m o d of approacSee 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).
271Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-82.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-69
{1957-59=1001
Year or month
Prices received by farmers
AHfarmprod-ucts i
Crops
Allcrops*
Foodgrains
Feed grains" and hay
Total Feedgrains
Cot-ton
To-bacco
Oil-bear-ing
crops
Livestock and products
Aiilive-stockand
prod-ucts i
Meatani-mals
Dairyprod-ucts
Poul-tryandeggs
1929
1930..19311932 .1933193419351936193719381939
19401941194219431944..19451946194719481949
195019511952...1953195419551956195719581959
1960...196119621963 1.1964....1965. . . . . .1966196719681969
1968: Jan 15 . . .Feb 15Mar 15Apr 15May 15June 15
July 15..Aug 15Sept 15O c t l 5 . . . . . . . .Nov 15Dec 15
1969: Jan 1 5 . . . . . . .Feb 15.Mar 15Apr 1 5 . . . . . . .May 15.June 15
July 15Aug 15.Sept 15Octl5_.Novl5Dec 15
61
52362729374547514039
42516680828698
114119103
107125119105102969597
10499
9999
10110098
103110105108114
105107108108108108
108108111108109108
109110112112117117
117115114115118118
61
52342632444649533637
414865848991102118114100
10411912010810810410510110099
100102104107107104106101103100
103103104105108103
100101103102103100
99101102102106103
100999697102
55
44272131434651573534
40465770788195128118103
1061151161111101071061069896
9699107106907787847673
808282797974
717071737573
737474747471
676872747575
74
67463136606865794546
54587296108106127161162112
1221431471301281161151059798
969598104105110114110100105
102104104103104103
9993959398100
102104103105109109
107105104104102103
77
68442836607068844544
54587397109104131171170109
1231471501321301161161059798
94949610210310811210897102
101101101102101
979092909697
9910199
102107107
10610310210199
100
57
40241926393838362728
3243606466699110510494
10812911910210510410310197102
971001041041009482737466
736666657069
708485867870
626466676569
706763706965
35
29201822323533413631
28325166727478777882
8390898991909396100104
103109109102101106114114117123
115116116116116116
117118119116119120
119120120121121121
122125127126125124
62
48321925455552564242
4560808897100114158153106
1201481291221331091111069896
93112108113112116128121115110
117119118118118118
117115111109111112
113114113114115114
114109102102105106
62
52382827324446494341
42536677768294111122106
10813011910497908894106100
9898999591101113107112125
107109110109109111
114113116113113115
116117119120124128
129128127127129133
50
43302019223838423736
35466066626781107117101
1101331159492807689
109102
96971019488104116109112130
106111113113113115
118115114110109111
113118122125136142
138137132130129133
10410611798
9711211810496969910199100
1011019999
100102115119124129
124122120119119117
120124128131132131
130128126124122121
124127131136138137
102
81625147567473706961
627796121312126127141153140
11814413014011312111210210890
10192929290921028490102
848484817885
91921059497
103
10599
1019585
10197104102116126
See footnotes at end of tabie.
272Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE G-82.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-69—Continued[1957-59=100]
Year or month
1929193019311932 .19331934193519361937—19381939 .194019411942—194319441945194619471948 .1949195019511952195319541955195619571958195919601961196219631964196519661967196819691968- Jan 15
Feb 15...Mar 15...Apr 15...May 15..June 15..July 15 .Aug 15...Sept 15..Octl5Nov 15...Dec 15...
1969: Jan 15 .Feb 15...Mar 15...Apr 15...May 15 .June 15..July 15...Aug 15Sept 15..Octl5Nov 15Dec 15...
Prices paid by farmers
Allitems,in-
terest,taxes,andwagerates(parityindex)
5552443837414242454242424552586265718289868796989595949598100102102103105107107110114116121127118119120121121121121121122122123123124125126127128128128127128128129129
Allitems
555144383843454548454445485561646672859288901001009696959698101101101101103104104106109111114119112113113114114114114114115115115116116117118118120120120119120120120121
Fam-i l y
l i v i n gi t e m s
5 45 04 33 73 84 34 34 34 54 34 24 24 55 25 86 16 47 18 38 88 58 69495949495969 9
1 0 01 0 11 0 21021 0 31 0 41051071101131171 2 31 1 51 1 61 1 61 1 71 1 71 1 71 1 81 1 81 1 81 1 91 1 91 1 91 2 01201 2 21 2 21231 2 31 2 31 2 31 2 41 2 4125125
Commodities and service.
AHproduc-tion
items i
565243383844464650474647505763666773859591941041049797969598100102101101103104103105108109111116110111111111112112112111111111112113113114115116117117116116116116117117
Production items
Feed
68614332375253556247475054667887861001181251031051181261141131061031019910098981001041031041091061021031031041031031031021019910099101101102102102103104103103103103102102104
Motorve-
hicles
3635353434363738394240404245475153556371787883878686878996100104102102105109111113117121128133
126
129129
128
130130
132
133133
133
135
F a r mm a -
c h i n -e r y
4343424039404142434443434346484949515867767883868787879296100104107110111113116119124129135142
133
136
138
139
140
143
145
Fer-til-izer
85837566616968646767666464717677797988969894100102103102101100100100100100100100100991001001009794100100100989898989896969696969696949494949493939393
inter-ests
11611310810190807468646058565451464341404243454954596368748391100109120131145162182206231255283315283283283283283283283283283283283283315315315315315315315315315315315315
Taxes3
5657565144383636363837383838373739434856606568717477818793100107117125132139147156165179192206192192192192192192192192192192192192206206206206206206206206206206206206
Wagerates*
323024181517182022222222263445546266727674738187888889929699105109110114116119125135146158174150150150157157157159159159166166166166166166177177177174174174179179179
Parityratio«
92836758647588929378778193105 (113 (108 (109 (113115110100101 (107 (100 (928984838285818079807876778074 (7474737474747373747475737373727373737576757574747676
66)80)9 s ) )9 5 )9 7 )8 3 )
( 8 5 )
98)0 9 )
L 1 6 )1 0 )11)L15IB111
onn?)08)(in9389
84858882(81)(83)83)(81)fan)(8?)f8fi)
(79)(80)(79)(80)(80)(80)(79)(79)797981797979)78)79)79)79)8?)82)(82)(81)(79)(80)(82)82)
1 Includes items not shown separately.2 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.5 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.
273
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Year
1929 _
1930...1931193219331934
193519361937_ . .19381939
19401941194219431944
19451946194719481949
1950 .1951195219531954.. .
19551956.195719581959
19601961196219631964
19651966196719681969 P.
TABLE
Cropsharvested(millions
ofacres) i
365
369365371340304
345323347349331
341344348357362
354352355356360
345344349348346
340324324324324v
324303295300301
298295308303294
C-83.—Selected measures of farm resources and inputs, 1929-69
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
7.87.47.37.07.0
Index numbers of inputs (1957-59=100)
Total
98
9796939186
8889949194
9797100101101
999999100101
101104103103102
1021019999102
101101101104104
104107109111112
Farmlabor
218
216220213212190
198192208193194
192188194191190
177170162158152
142143136131125
1201131049997
9288848177
7369686666
Farmreal
estate 2
92
9189868786
8889909192
9292918988
8891929595
97989999100
10099100100100
101101103104106
106107108107107
Me-chani-cal
powerandma-
chinery
38
4038353232
3335384040
4244485051
5458647280
8692969798
999910099101
104101100104102
105110112114115
Ferti-lizerand
limingmaterials
21
2116111214
1720242324
2830343843
4553565761
6873808388
90919497109
111117125141155
162182203214217
Feed,seed, and
live-stockpur-
chases 3
27
2623242424
2331293037
4546576364
7269737269
7280818082
869193101106
109111117123126
127136139143147
Miscel-laneous
76
7678797669
6668687072
7374757676
7677787482
8588889191
949895100105
106109113117120
120123127130134
* 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.
274Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-84.—Comparative balance sheet of agriculture, 1929-70
[Billions of dollars]
Beginning ofyear
1929
19301931193219331934.
19351936193719381939
19401941194219431944
19451946194719481949
1 9 5 0 . . . . . . . . .19511952_.19531954
19551956195719581959
19601961196219631964
1965196619671968 _1969..1970 v
Assets
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
203.1204.0212.9221.0229.8
238.5256.0269.9283.4298.0307.1
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
160.9172.5182.5193.1202.6208.6
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
14.517.518.918.820.1
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
25.527.128.931.132.6
Crops 2
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
10.574.7
House-hold
equip-mentand
furnish-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
8.68.68.48.79.1
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
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
4.74.6*4.54.44.2
4.24.13.93.83.8
2318
Invest-mentin co-opera-tives
0.6
.8
.9
.91.01.1
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
Claims
Total
68.5
52.955.062.973.784.6
94.2103.5116.4127.9\134.9
132.5151.5167.0164.3161.2
165.1169.6178.0185.8202.2
203.1204.0212.9221.0229.8
238. 5256.0269.9283.4298.0307.1
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
18.921.223.325.527.128.7
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
18.620.422.424.927.529.4
Pro-prie-tors'equi-ties
53.9
42.944.652.463.775.7
85.995.5
107.9118.6173.5
120.1138.4152.3148.?144.3
147.5150.8158.6165.4178.6
178.2177.8184.2189.2194.«
201. (214. ^224./233. (243. J249. C
* Beginning with 1961, horses and mules are excluded.2 Includes all crops held on farms and crops held off farms by farmers as security for Commodity Credit Corporation
loans. The latter on January 1,1969, totaled $1,188 million.
Source: Department of Agriculture.
275Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICSTABLE C-85.—United States balance of payments, 1946-69
[Millions of dollars]
Year orquarter
1946 _1947 _.19481949
1950 .1951195219531954
19551956.. .195719581959
I960. .19611962.. .19631964
1965. . .196619671968.1969W
1967:1IIIIIIV
1968:1III I I . - - -I V . . . .
1969:1IIIII P..
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
39,39943,36046,18850,59454,275
Mer-chan-dise^
11,76416,09713,26512,213
10,20314,24313,44912,41212,929
14,42417,55619,56216,41416,458
19,65020,10720,77922,25225,478
26,44729,38930,68133,59835,489
Mili-tary
sales
8(8)(8)
1182200161375300302
335402656657747
830829
1,2401,4271,564
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
5,3845,6596,2346,9347,887
Gov-ern-ment
2166
10298
109198204252272
274194205307349
348381471498456
509593638765951
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
6,2306,8917,3947,8718,384
Imports of goods and services
Total
- 6 , 9 8 5—8,202
—10,343—9,616
—12,001—15,047—15,766—16,546- 1 5 , 9 3 0
- 1 7 , 7 9 5—19,627—20,752—20,861- 2 3 , 3 4 2
—23,355—23,148—25,357- 2 6 , 6 1 7- 2 8 , 6 9 1
—32,278—38,081- 4 1 , 0 1 1—48,078—52,405
Mer-chan-dise i
- 5 , 0 6 7—5,973—7,557—6,874
—9,081—11,176—10,838- 1 0 , 9 7 5—10,353
—11,527—12,803—13,291—12,952—15,310
—14,744—14,519—16,218—17,011—18,647
—21,496—25,463—26,821—32,972—35,193
Mili-taryex-
pend-itures
- 4 9 3--455—799—621
—576—1,270—2,054—2,615—2,642
—2,901—2,949—3,216—3,435- 3 , 1 0 7
—3,087- 2 , 9 9 8—3,105—2,961—2,880
—2,952—3,764—4,378—4,530—4,813
Otherserv-ices
—1,425—1,774—1,987—2,121
—2,344—2,601—2,874—2,956—2,935
—3,367—3,875- 4 , 2 4 5—4,474- 4 , 9 2 5
—5,523—5,631- 6 , 0 3 5- 6 , 6 4 7—7,164
—7,831—8,854—9,813
—10,577—12,399
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
7,1215,2795,1772,5161,869
Remit-tances
andpen-sions
- 6 4 8—728—631—641
- 5 3 3—480—571—644—633
- 5 9 7—690—729—745—815
—596—632- 6 9 5—798—809
—950—923
—1,196—1,159—1,152
Seasonally adjusted annual rates
45,84445,93646,30846,668
47,73650,67253,37650,612
47,65256,98058,192
30,75230,89230,67630,404
31,76433,58035,51633,532
29,87638,35238,240
1,3321,340
9561,328
1,2201,4121,6241,456
1,6721,3361,684
5,8245,6806,5966,836
6,2487,0727,3127,108
7,5447,6728,444
624640608680
836820848560
936932984
7,3127,3847,4727,420
7,6687,7888,0767,956
7,6248,6888,840
—40,400—40,132- 4 0 , 6 9 2—42,824
- 4 5 , 8 5 2—47,308- 4 9 , 7 4 0—49,408
—46,200—55,768—55,248
—26,640—25,860—26,168—28,616
—31,268—32,524—34,264—33,832
—30,288—38,364—36,928
—4,340- 4 , 3 0 0—4,424—4,448
—4,408—4,464—4,572- 4 , 6 7 6
—4,816- 4 , 8 3 2—4,792
—9,420—9,972
- 1 0 , 1 0 0—9,760
—10,176—10,320—10,904—10,900
—11,096- 1 2 , 5 7 2—13,528
5,4445,8045,6163,844
1,8843,3643,6361,204
1,4521,2122,944
—944—1,464- 1 , 3 6 0—1,012
—1,104—1,096- 1 , 3 0 0—1,140
—1,084—1,144—1,228
See footnotes at end of table.
276Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-85.—United States balance of payments, 1946-69— Continued
[Millions of dollars]
Year orquarter
U.S.Gov-ern-ment
grantsand
capi-tal,net 2
U.S. private capital,net
Directinvest-ment
Otherlong-term
Short-term
For-eigncapi-tal,net 2
Errorsand
omis-sions
Balance
Li-quiditybasis s
Offi-cial
reservetrans-actionsbasis *
Changes in selected lia-bilities (decrease ( - ) ) «
To foreignofficial holders•
Liquid Non-liquid
Toother
foreignhold-ers?
Changesin gold,convert-ible cur-rencies,
andIMFgold
trancheposition
(increase()
1946..1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
1960..1961..1962..1963..1964..
1965..1966196719681969 10
1967: L —II.._I I I . .IV...
1968: l.._.I I . . .I I L .IV...
1969: L._-II....Ill p.
-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•3,955-4,000
-230-749-721-660
-621-508-852-735-667
-1,951-2,442-1,181-1,372
-1,674-1,598-1,654-1,976-2,328
-3,468-3,639-3,154-3,025-4,107
127- 4 9- 6 9
-495-437-214
185-320
-241-603-859
-1,444-926
-855-1,025-1,227-1,698-2,103
-1,079-256
-1,292-1,082-1,505
-310-189-116
187
-149-103- 9 4167
-635
-191-517-276-311- 7 7
-1,349-1,556
-546- 7 8 5
-2,147
753-415
-1,209-1,049
-623
- 6 1 5-432-361
44
18154052
146249
297615545186736
364702
1,026690689
2702,5313,3608,5653,039
155861
1,115717
-12435449722060
371390
1,012361260
-1,156-1,103-1,246-509
-1,118
-576-489
-1,007-642
-4,319
9934,210
817136
-3,489- 8
-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
168-10,795
-3,403-1,347-2,702-2,011-1,564
-1,289266
-3,4181,6381,949
«1,4489 681M571,6731,075
- 1 8-1 ,595
2,020-3 ,099
250- 3 9318
85761
1,3462,341
3081,084
214620
1,554
1312,3841,4723,811
- 6 2 3-3 ,315-1,736
-266
1,758- 3 3
-4151,256
480
182-869
-1 ,1652,2921,035
2,145606
1,533377171
1 22256852
Seasonally adjusted annual rates Quarterly totals unadjusted
-4,436-3,996•4,168-4,288
-4,388-4,220-3,872-3,340
-3,172-4,620-4,208
-2,868-2,132-3,788-3,824
-U-4,036-5,048-1,132
-3,712-4,228-4,380
-552-1,004-2,068-1,544
-548-588-916
-2,280
-1,024-1,708-1,784
-852-920
-1,244-1,820
-788-1,524-1,508-376
-628-2,072
832
3,4684,8843,1681,924
6,22010,0687,22010,752
6,5321,4201,164
-1,232-2,496
-276-24 .
-1,640-1,9201,236-240
-5,040-4,352-3,564
-1 ,980-1 ,320-4 ,124-6,752
-2,25636
-5563,448
-6 ,680-15,484-10,220
-6,844-2,876-284
-3,668
-1,5166,212
3881,468
4,5764,944
-3,672
-80540260
1,300
1,3582,190-38487
1,708-5432,239
332589135290
363777537664
45-360-515
-70990
1,331760
7212,2221,017-149
3,0314,6541,370
1,027-419- 3 7 5- 1 8 1
904-137- 5 7 1
-1 ,076
- 4 8-299-686
1 Adjusted from customs data for differences in timing and coverage.2 Includes certain special Government transactions.3 Equals changes in liquid liabilities to foreign official holders, other foreign holders, and changes in official reserve assets
consisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.* Equals changes in liquid and nonliquid liabilities to foreign official holders and changes in official reserve assets con-
sisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.« Includes short-term official and banking liabilities, foreign holdings of U.S. Government bonds and notes, and certain
nonliquid liabilities to foreign official holders.« Central banks, governments, and U.S. liabilities to the IMF arising from reversible gold sales to, and gold deposits with,
the United States.7 Private holders; includes banks and international and regional organizations; excludes IMF.s Not reported separately.• Includes change in Treasury liabilities to certain foreign military agencies; excluding these changes, data ($ millions)
are 1,258 (1960), 741 (1961), 918 (1962).10 Average of the first 3 quarters on a seasonally adjusted annual rates basis.
Note.—Data exclude military grant-aid and U.S. subscriptions to International Monetary Fund.
Source: Department of Commerce, Office of Business Economics.
277Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-86.—-United States merchandise exports and imports, by commodity groups, 1958-69
[Millions of dollars]
Year or quarter
Merchandise exports *
Total, includ-ing reexports 2
Sea-sonally
ad-justed
Unad-justed
Domestic exports
Total 2s
Food,bever-ages,
and to-bacco
Crudemate-rialsand
fuels «
Man-ufac-tured
goods«
Merchandise imports
General imports *
Total*
Sea-sonally
ad-justed
Unad-justed
Food,bever-ages,
and to-bacco
Crudemate-rialsand
fuels«
Man-ufac-tured
goods8
Grossmer-chan-dise
tradesur-plus,sea-
sonallyad-
justed7
1959.
I960- . .1961—.196219631964—.
19651966—19671968
1967: 1 --IIillIV . .
1968: 111IllIV
19698:1IIIII..IV
7,7797,7837,7727,772
8,0288,4659,0198,581
7,5869,8599,8829,975
16,375 16,21116,426 j 16,24319,659 19,45920,226 19,98220,986 20,71722,467 22,18225,832 25,479
26,751 26,40829,490 29,05431,030 30,64634.063 33,62637,314 36,770
7,7138,0127,2818,024
8,0228,7048,4258,911
7,56810,1509,27610,348
7,6187,9127,1847,933
7,9228,5968,3178,792
7,45110,0099,137
10,201
2,6882,852
3,167I 3,466
3,7434,1884,637
4,5205,1864,7104,5924,446
1,1271,1571,1311,295
1,1951,0901,1221,185
6991,2561,1481,342
3,052 11,5472,996 11,179
3,942 12,5833,864 12,7843,356 13,6683,775 14,2974,337 16,529
4,275 17,4394,404 19,2184,726 20,8444,864 23,8195,008 26,764
1,1601,2081,1231,235
1,1801,2171,1741,293
8781,3891,2381,508
5,2295,4764,8365,303
5,4656,1825,9556,217
5,7747,2646,6137,135
6,7186,5256,6057,157
7,8678,1518,5488,527
7,6549,6419,3029,443
13,39215,690
15,07314,76116,46417,20718,749
21,42925,61826,88933,22636,052
6,6366,6066,4227,226
7,7648,2568,4578,750
7,4209,7879,1959,667
3,5503,580
3,3923,4553,6743,8634,022
4,0134,5904,7015,3655,309
1,2131,1251,1001,264
1,2571,3081,4301,369
1,0131,4781,3311,487
4,1644,615
4,4184,3344,6914,7555,029
5,4405,7185,3676,0316,391
1,3961,3481,2601,363
1,4431,4631,5701,555
1,4791,6411,5831,692
5,3117,117
6,8636,5377,6498,0709,106
11,24514,44615,75620,62423,021
3,8143,8583,7904,293
4,8045,1805,1425,499
4,6556,3285,9316,074
2,983736
4,5865,4654,5225,2607,083
5,3223,8724,141837
1,262
1,0611,2581,167615
16131447154
-68218580532
1 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.3 Total arrivals of imported goods other than intransit shipments.* Total includes commodities and transactions not classified according to kind.6 Includes fats and oils.s Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these items
include military grant-aid shipments.7 Exports, excluding military grant-aid, less general imports; quarterly data seasonally adjusted.s Quarterly data have not been revised and therefore do not add up to annual totals, which are based on more recent
data.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.
278Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-87.—United States merchandise exports and imports, by area, 1963-69
[Millions of dollars]
Area 1963 1964 1965 1966 1967 1968 1969 9
Exports (including reexports andspecial category shipments):Total _..
Developed countriesDeveloping countries
CanadaOther Western Hemisphere.Western Europe iEastern EuropeAsiaAustralia and OceaniaAfrica -
General imports: Total.
Developed countriesDeveloping countries
CanadaOther Western Hemisphere.Western Europe iEastern EuropeAsiaAustralia and OceaniaAfricaUnidentified countries2
23,387
15,1648,057
4,2613,6928,198167
5,450565
1,054
17,207
10,8326,283
3,8514,0634,731
813,1925047787
26,650
17,3438,967
4,9214,2939,222340
5,811804
1,259
18,749
11,9246,711
4,2654,1855,209
993,62044291712
27,530
18,3669,023
5,6584,2759,257140
6,015956
1,229
21,429
14,1017,174
4,8584,3996,155
1374,52845588314
30,430
20,12010,112
6,6794,7699,891
1986,740805
1,348
25,618
17,6327,795
6,1524,7377,679179
5,2775969926
31,622
21,4679,960
7,1724,71810,187
1957,1501,0181,182
26,889
18,9937,709
7,1404,6628,052
1775,3495839206
34,636
23,60010,821
8,0725,33911,132
2157,5821,0261,270
33,226
24,1308,886
9,0055,14310,139
1986,911697
1,12211
37,988
26,45811,281
9,1385,57612,370
2498,265998
1,392
36,052
26,4659,377
10,3905,16510,140
1968.276828
1,04512
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 of
South 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.
279
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TABLE C-88.—United States overseas loans and grants, by type and[Millions of dollars]
Type of program and fiscalperiod
Total economic loans and grants(net obligations and loanauthorizations):»
1962-68 averageLoansGrants
1969LoansGrants
Economic loans and grants toless developed countries, byprogram:2
Net obligations and loanauthorizations:
1962-68 average1969
Repayments and interest:1962-68 average1969
Agency for internationalDevelopment:
Net obligations and loanauthorizations:
1962-68 average1969 . -
Repayments and interest:1962-68 average1969
Export-Import Bank long-termloans:
Loan authorizations:1962-68 average1969
Repayments and interest:1962-68 average - --1969
Food for Peace:
Obligations:1962-68 average1969
Repayments and interest:1962-68 average1969
Contributions and Subscriptionsto International Lending Or-ganizations:3
Obligations:1962-68 average1969
Peace Corps and other:4
Obligations:1962-68 average . . .1969
Repayments and interest:1962-68 average1969
Total
4,7342,5452,189
3,9362,0231,912
4,5263,687
7191,080
2,2391,449
207301
404537
383546
1,3891,212
107198
267320
228170
2234
NearEastand
SouthAsia
1,5341,154
380
781604178
1,534781
260414
718285
114163
9368
74113
710416
68133
1312
54
LatinAmerica
1,191771420
1,022555467
1,1911,022
290411
548290
2449
196289
245317
162115
1120
181300
10428
1025
Vietnam
361*
362
358*
358
361358
105
282259
105
7999
*
EastAsia
520197323
774498275
449665
5573
227200
2231
2740
2528
160397
514
3529
31
area, fiscal years.
Africa
388172216
326143183
388326
3158
196108
1824
3058
1024
140139
210
2222
1
Europe
258216
42
16315211
14683
67113
2*
1727
5881
2964
872
2222
1962-69
Otherand
non-regional
48235
447
51372
441
457453
6
268308
31
5045
862C
548C
3A
1 Some 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).
280Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C-89.—International reserves, 1949, 1953, and 1964-69
[Millions of dollars; end of period]
Area and country
All countries
Developed areas
United States
United Kingdom
Other Western EuropeAustria.BelgiumFranceGermany.ItalyNetherlandsScandinavian coun-
tries (Denmark,Finland, Norway,and Sweden)
Spain-.:SwitzerlandOther 2
Canada.
Japan
Australia, New Zealand,and South Africa
Less developed areas 3
Latin AmericaMiddle EastOther Asia..Other Africa
1949
45,635
37,245
26,024
1,752
6,45592978580196
34
537
&
1,222
1,197
0)1,587
8,390
2,7751,4753,3954 290
1953
51,780
41,375
23,458
2,670
10,500325
1,144829
1,773768
1,232
1,026150
1,7681,484
1,902
1,953
10,405
3,4001,2003,8401,800
1964
68,740
59,015
16,672
2,316
32,3501,3172,2225,7247,8823,8242,349
2,3801,5133,1202,017
2,881
2,019
2,777
9,725
2,8552,3203,0701,415
1965
70,520
59,540
15,450
3,004
33,6651,3112,3346,3437,4294,8002,416
2,3281,4093,2442,052
3,027
2,152
2,245
10,980
3,2802,6753,3951,570
1966
71,980
60,330
14,882
3,100
35,0401,3332,3506,7338,0284,9112,448
2,3411,2053,3242,368
2,693
2,119
2,494
11,655
3,1802,8453,8401,725
1967
73,600
61,145
14,830
2,695
36,5401,4842,5906,9948,1525,4632,619
2,2361,0493,5552,396
2,709
2,030
2,341
12,460
3,4653,1953,9751,755
1968
76,565
62,940
15,710
2,422
35,7801,5102,1874,2019,9485,3422,463
2,3201,0953,9322,780
3,041
2,906
3,083
13,625
3,9503,2304,1102,160
1969 v
Sep-tember
79,615
64,925
16,743
2,434
36,4501,4452,1764,00612,1785,3702,365
1,734981
3,2182,977
2,949
3,299
3,052
14,685
4,1753,1004,6552,580
Decem-ber
16,964
2,527
1,5372,3863.8337,1345,0052,529
2,216833
3,995
3,100
3,654
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."
2 8 l
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TABLE G—90.—United States reserve assets: Gold stock, holdings of convertible foreign currencies,and reserve position in the International Monetary Fund, 1946-69
[Millions of dollars]
End of year or month Total reserveassets
Gold stock i
Total 2 Treasury
Convertibleforeign
currencies 3
Reserveposition in
InternationalMonetary Fund*
1946194719481949
195019511952.19531954
195519561957. . . . . .19581959
196019611962 -19631964
19651966196719681969
1968: Jan..Feb.Mar.Apr.May.June.
July.Aug..Sept.Oct...Nov..Dec .
1969:Jan...Feb..Mar..A p r -May..June..
July_.Aug. .Sept..Oct...Nov..D e c .
20,70624,02125,75826,024
24,26524,29924,71423,45822,978
22,79723,66624,83222,54021,504
19,35918,75317,22016,84316,672
15,45014,88214,83015,71016,964
14,62014,79013,92613,84014,34814,063
14,36614,42714,63414,42715,66015,710
15,45415,49915,75815,94816,07016,057
15,93616,19516,74316,31616,00016,964
20,70622,86824,39924,553
22,82022,87323,25222,09121,793
21,75322,05822,85720,58219,507
17,80416,94716,05715,59615,471
U3,80613,23512,06510,89211,859
12,00311,90010,70310,54710,46810,681
10,67610,68110,75510,78810,89710,892
10,82810,80110,83610,93611,15311,153
11,14411,15411,16411,19011,17111,859
20,52922,75424,24424,427
22,70622,69523,18722,03021,713
21,69021,94922,78120,53419,456
17,76716,88915,97815,51315,388
5 13,73313,15911,98210,36710,367
11,98411,88210,48410,48410,38410,367
10,36710,36710,36710,36710 36710,367
10,36710,36710,36710,36710,36710,367
10,36710,36710,36710,36710,36710,367
11699212432
7811,3212,3453,5282,781
2,1762 2352,7462,8043,3862,479
2,7732,8172,9532,7033,6553,528
3,3383,3993,6013,6243,4743,355
3,1663,3993,7973,3412,8652,781
1,1531,3591,461
1,4451,4261,4621,3671,185
1,0441,6081,9751,9581,997
1,5551,6901,0641,035
769
»863326420
1,2902,324
441655477489494903
917929926936
1,1081,290
1,2881,2991,3211,3881,4431,549
1,6261,6421,7821,7851,9642,324
* Includes gold sojd to the United States by the International Monetary Fund with the right of repurchase whichamounted to $800 million on December 31,1969. 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 $219 million on December 31,1969. The United States has a corresponding gold liabilityto the IMF.
2 Includes gold in Exchange Stabilization Fund.* Includes holdings of Treasury and Federal Reserve System.4 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.
5 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.
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.
282
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TABLE C-91.—Price changes in international trade, 1961-69
11963=1001
Area or commodity class 1961 1962 1963 1964 1965 1966 1967 1968
1969
Thirdquarter
Developed areas
Total:ExportsTerms of trade i .
United States *ExportsTerms of trade 1.
Developing areas
Total:ExportsTerms of trade i-
Latin AmericaExportsTerms of trade *.
Southern and Eastern Asia •ExportsTerms of trade i-
Primary commodities: Total.,
Foodstuffs
Coffee, tea, and cocoa..Cereals
Other agricultural commodities6
Fats, oils, and oilseeds..Textile fibers
WoolRubber
MineralsMetal ores..
Manufactured goods: Total f i...
Nonferrous base metals5..
10199
100100
103104
97
92
9994
102
1029384
115
100102
99
102
Unit value indexes by area
99100
100101
9798
9592
100102
100100
100100
100100
100100
100100
102100
10199
103102
107105
10099
103100
104101
103100
107102
10199
105100
107101
104102
108105
101100
105101
110102
103101
107103
9999
104101
111102
104102
108101
98100
World export price Indexes»
96
94
9699
97
949184107
9910099
100
100
100
100100
100
iiii
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
108102
115103
107104
3 1093 102
3 1013102
105
106
118100
102
998776
107
105119
109
173
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 1969.* Excludes Japan.5 Data for manufactured goods are unit value indexes.• 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).
283Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE C—92.—Consumer price indexes in the United States and other major industrial countries,1957-69
Period
195719581959
19601961 _ . .19621963 .1 9 6 4 . . . .
196519661967196819691
1966: 1IIIllIV
1967: 1||_IllIV
1968: LIIIIIIV
1969: 1| |IllIV 2
UnitedStates
91.894.495.1
96.697.798.8
100.0101.3
103.0106.0109.0113.6119.7
104 5105.6106.6107.4
107.6108.4109.5110.4
111.6112.8114.2115.6
116.9119.0120 7122.3
Canada
91.794.195.1
96.297.198.3
100.0101.8
104.3108.2112.0116.7121.7
106 7107.9108.9109.5
109.9111.5113.2113.6
115.0116 0117.3118.5
119.4121.6123 0123.5
[1SC3-
Japan
79.378.979.8
82.687.093.0
100.0103.9
110.7116.412L.0127.5133.8
114 9116.4116.5117.6
119.8119.7120.2124.1
126.2126.4127.4129.8
130.4132.8135.8137.3
=100]
France
69.680.185.0
88.191.095.4
100.0103.4
106.0108.9111.8116.9123.7
107.7108.5109.2109.8
110.8111.2111.9113.5
115.1115.8117.2119.6
121 6123.2124.6126.3
Germany
88.190.090.9
92.194.397.1
100.0102.3
105.8109.5111.1113.1115.9
108.5109.8109.6110.1
110.9111.5111.2110.8
112.8113.0112.9113.8
115.4115.9116 0116.8
Italy
83.285.585.1
87.188.993.1
100.0105.9
110.7113.3116.9118.5121.0
112.7113.0113.3114.2
115.9116.6117.5117.9
118.2118.5118.3118.8
119.7120.9122 3
Nether-lands
889091
949597
100106
111117121126135
116120118118
120121122123
124126126128
134136135137
UnitedKingdom
86 989.590.0
90.994.098.0
100 0103.3
108.2112.4115.2120.6127.0
110 4112.5112.9113.8
114. 4115.4114.8116.2
117.8120.6121.3122.7
125.2127.2127.4128.7
1 Except for the United States, averages are for January-September for Italy; and January-November for all other coun-tries.
2 October-November average for all countries other than the United States.
Sources: Department of Labor and Organization for Economic Cooperation and Development.
284Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis