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Appendix B
STATISTICAL TABLES RELATING TO INCOME,
EMPLOYMENT, AND PRODUCTION
451-688 0—72 13189
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTSNational income or expenditure: Page
B-l . Gross national product or expenditure, 1929-71 195B-2. Gross national product or expenditure in 1958 dollars, 1929-71 196B-3. Implicit price deflators for gross national product, 1929-71 198B-4. Gross national product by major type of product, 1929-71 200B-5. Gross national product by major type of product in 1958 dollars,
1929-71 , 201B-6. Gross national product: Receipts and expenditures by major economic
groups, 1929-71 202B-7. Gross national product by sector, 1929-71 204B-8. Gross national product by sector in 1958 dollars, 1929-71 205B-9. Gross national product by industry in 1958 dollars, 1947-70 206B-10. Personal consumption expenditures, 1929-71 207B-l 1. Gross private domestic investment, 1929-71 208B-12. National income by type of income, 1929-71 209B-l 3. Relation of gross national product and national income, 1929 -71 . . . . 210B-l4 . Relation of national income and personal income, 1929-71 211B-15. Disposition of personal income, 1929-71 212B-l6. Total and per capita disposable personal income and personal con-
sumption expenditures, in current and 1958 dollars, 1929-71 213B-17. Sources of personal income, 1929-71 214B-18. Sources and uses of gross saving, 1929-71 216B-19. Saving by individuals, 1946-71 217B-20. Number and money income (in 1970 dollars) of families and unrelated
individuals, by race of head, 1947-70 218
Population, employment, wages, and productivity:B-21. Population by age groups, 1929-71 219B-22. Noninstitutional population and the labor force, 1929-71 220B-23. Civilian employment and unemployment, by sex and age, 1947-71. . 222B-24. Selected unemployment rates, 1948-71 223B-25. Unemployment by duration, 1947-71 224B-26. Unemployment insurance programs, selected data, 1940-71 225B-27. Wage and salary workers in nonagricultural establishments, 1929-71. 226B-28. Average weekly hours of work in private nonagricultural industries,
1929-71 228B—29. Average gross hourly earnings in private nonagricultural industries
and in agriculture, 1929-71 229B-30. Average gross weekly earnings in private nonagricultural industries,
1929-71 230B-31. Average weekly hours and hourly earnings, gross and excluding over-
time, in manufacturing industries, 1939-71 231B-32. Average weekly earnings, gross and spendable, total private non-
agricultural industries, in current and 1967 dollars, 1947-71 232B-33. Average weekly earnings, gross and spendable, in manufacturing
industries, in current and 1967 dollars, 1939-71 233B-34. Indexes of output per man-hour and related data, private economy,
1947-71. 234
191
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Production and business activity: PageB-35. Industrial production indexes, major industry divisions, 1929-71 235B-36. Industrial production indexes, market groupings, 1947-71 236B-37. Industrial production indexes, selected manufactures, 1947-71 237B-38. Manufacturing output, capacity, and utilization rate, 1948-71 238B-39. Business expenditures for new plant and equipment, 1947-72 239B-40. New construction activity, 1929-71 240B—41. New housing starts and applications for financing, 1929-71 242B-42. Sales and inventories in manufacturing and trade, 1947-71 244B-43. Manufacturers' shipments and inventories, 1947-71 245B-44. Manufacturers' new and unfilled orders, 1947-71 246
Prices:B-45. Consumer price indexes, by major groups, 1929-71 247B-46. Consumer price indexes, by special groups, 1935—71 248B—47. Consumer price indexes, selected commodities and services, 1935—71. . 249B—48. Wholesale price indexes, by major commodity groups, 1929—71 250B-49. Wholesale price indexes, by stage of processing, 1947-71 252B-50. Percentage changes from previous month in indexes for major
groupings of the consumer price index, 1968-71 254B-51. Percentage changes from previous month in indexes for major
groupings of the wholesale price index, 1968-71 255
Money stock, credit, and finance:B-52. Money stock measures, 1947-71 256B-53. Bank loans and investments, 1930-71 257B-54. Total funds raised in credit markets by nonfinancial sectors, 1963-71. . 258B-55. Selected liquid assets held by the public, 1946-71 260B-56. Federal Reserve Bank credit and member bank reserves, 1929-71 261B-57. Bond yields and interest rates, 1929-71 262B—58. Short- and inter mediate-term consumer credit outstanding, 1929—71. . 264B-59. Instalment credit extended and repaid, 1946-71 265B—60. Mortgage debt outstanding, by type of property and of financing,
1939-71 266B-61. Mortgage debt outstanding, by lender, 1939-71 267B-62. Net public and private debt, 1929-70 268
Government finance:B-63. Federal budget receipts and outlays, 1929-73 269B-64. Federal budget receipts, outlays, financing, and debt, 1962-73 270B-65. Relation of the Federal budget to the Federal sector of the national
income and product accounts, 1970—73 272B-66. Receipts and expenditures of the Federal Government sector of the
national income and product accounts, 1948-73 273B-67. Public debt securities by kind of obligation, 1946-71 274B-68. Estimated ownership of public debt securities, 1939-71 275B-69. Average length and maturity distribution of marketable interest-
bearing public debt, 1946-71 276B-70. Receipts and expenditures of the government sector of the national
income and product accounts, 1929-71 277B-71. Receipts and expenditures of the State and local government sector of
the national income and product accounts, 1946-71 278B-72. State and local government revenues and expenditures, selected fiscal
years, 1927-70 279
192
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Corporate profits and finance: Page
B-73. Profits before and after taxes, all private corporations, 1929-71 280B-74. Sales, profits, and stockholders' equity, all manufacturing corpora-
tions (except newspapers), 1947-71 281B-75. Relation of profits after taxes to stockholders' equity and to sales, all
manufacturing corporations (except newspapers), by industry group,1950-71 282
B-76. Sources and uses of funds, nonfarm nonfinancial corporate business,1960-70 284
B-77. Current assets and liabilities of U.S. corporations, 1939-71 285B-78. State and municipal and corporate securities offered, 1934-71 286B-79. Common stock prices, earnings, and yields, and stock market credit,
1939-71 287B-80. Business formation and business failures, 1929-71 288
Agriculture:
B—81. Income of farm people and farmers, 1929-71 289B-82. Farm production indexes, 1929-71 290B-83. Farm population, employment, and productivity, 1929-71 291B-84. Indexes of prices received and prices paid by farmers, and parity ratio,
1929-71 292B-85. Selected measures of farm resources and inputs, 1929-71 294B-86. Comparative balance sheet of the farming sector, 1929-72 295
International statistics:
B-87. U.S. balance of payments, 1946-71 296B-88. U.S. merchandise exports and imports, by commodity groups,
1958-71 298B-89. U.S. merchandise exports and imports, by area, 1965-71 299B-90. U.S. overseas loans and grants, by type and area, fiscal years,
1962-71 300B-91. International reserves, 1949, 1953, and 1966-71 301B-92. U.S. reserve assets, 1946-71 302B-93. Price changes in international trade, 1963-71 303B-94. Consumer price indexes in the United States and other major in-
dustrial countries, 1957-71 304
General Notes
Detail in these tables will not necessarily add to totals because of rounding.Unless otherwise noted, all dollar figures are in current dollars.
Symbols used:» Preliminary.. . Not available (also, not applicable).
193
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NATIONAL INCOME OR EXPENDITURETABLE B-l.—Gross national product or expenditure, 1929-71
[Billions of dollars]
Year or quarter
1970: I . .I I .IllIV.
1971: 1 . .ILIIIIV
Totalgross
nationalproduct
103.1
90.475.858.055.665.172.282.590.484.790.5
284.8328.4345.5364.6364.8398.0419.2441.1447.34817
503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1
974.11,046.8
Per-sonalcon-
sump-tion
expend-itures i
77.2
69.960.548.645.851.355.761.966.563.966.8
99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6
615.8662.2
Grossprivate
do-mesticinvest-ment'
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
74.871.783.087.194.0
108.1121.4116.6126.0137.8
135.3150.8
Netexports
of goodsandserv-ices)
1.1
1.0
!4.4.6.1.1.3
1.31.1
1.71.3.0
- 2 . 0- 1 . 8- . 67.5
11.56.46.1
1.83.72.2.4
1.82.04.05.72.2
4.05.65.15.98.56.95.35.22.52.0
3.6.7
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
99.6107.6117.1122.5128.7137.0156.8180.1199.6209.7
219.4233.1
Federal
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
53.557.463.464.265.266.977.890.798.899.2
97.297.6
NationaldefenseJ Other
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
44.947.851.650.850.050.160.772.478.378.4
75.471.4
1.3
1.41.51.52.03.02.94.94.75.4
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
11.813.515.216.817.118.420.520.7
21.926.2
Seasonally adjusted annual rates
Stateandlocal
7.2
7.87.76.66.06.87.17.07.27.68.2
8.07.97.77.47.58.19.8
12.615.017.7
19.521.522.924.627.430.133.036.640.643.3
46.150.253.758.263.570.179.089.4
100.8110.6
122.2135.4
956.0968.5983.5988.4
1,020.81, 040.01,053.41,073.0
604.0613.8620.9624.7
644.9657.4668.8677.7
131.2134.1138.6137.3
143.3152.9150.8156.5
3.54.24.02.7
4.7.1.0
- 2 . 0
217.3216.5220.1223.7
227.9229.6233.8240.9
100.296.896.195.9
96.496.097.6
100.6
78.975.174.273.2
72.671.470.271.5
21.321.621.922.7
23.724.627.429.2
117.1119. 7124.0127.9
131.6133.6136.2140.3
1 See Table B-10 for detailed components.2 See Table B-ll for detailed components.»See Table B-6 for exports and imports separately.* Net of Government sales.8 This category corresponds closely to the national defense classification in the "Budget of the United States Govern-
ment for the Fiscal Year ending June 30,1973."
Source: Department of Commerce, Bureau of Economic Analysis.
195
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TABLE B-2.—Gross national product or expenditure in 1958 dollars, 1929-71
[Billions of 1958 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..
I960..1961..1962..1963..1964..1965..1966..1967.1968..1969..
1970..1971»
1970: I . . .I I . . .
1971: I—II . .111..IV*.
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
487.7497.2529.8551.0581.1617.8658.1675.2706.6724.7
720.0739.5
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
316.1322.5338.4353.3373.7397.7418.1430.1452.7469.3
475.9491.9
Dura-ble
goods
16.3
12.911.28.48.39.4
11.714.515.112.214.5
16.719.111.710.29.4
10.-620.524.726.328.4
34.731.530.835.335.443.241.041.537.943.7
44.943.949.253.759.066.671.772.981.384.8
81.489.3
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.?170.3178.6187.0190.2197.1202.7
207.3211.6
Serv-ices
54.0
51.549.445.946.046.147.950.552.050.952.5
54.456.358.561.864.767.772.173.475.877.6
81.884.887.891.194.899.3
104.1108.0112.0116.8
121.6125.6131.1137.4144.4152.5159.4167.0174.4181.8
Gross private domestic investment
Total
40.4
27.416.84.75.39.4
Total
36.9
28.019.210.99.7
12.118.0 i 15.624.0 i 20.929.917.024.7
33.041.621.412.714.019.652.351.5
24.519.423.5
28.132.017.312.915.922.642.351.7
60. 4 55.948. 0 51. 9
69.370.060.561.259.475.474.368.860.973.6
72.469.079.482.587.899.2
109.3101.2105.2109.6
187.2 102.2 99.9191.0 107.9 105.9
61.059.057.260.261.469.069.567.662.468.8
68.967.073.476.781.990.195.493.598.8
103.2
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
47.145.549.751.957.866.374.173.275.680.1
78.678.8
Struc-tures
13.9
11.87.54.43.33.64.05.47.15.65.9
6.88.14.62.93.85.7
12.511.612.311.9
12.714.113.714.915.216.218.518.216.616.2
17.417.417.917.919.122.324.022.623.424.5
24.222.4
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
29.628.131.734.038.744.050.150.652.255.7
54.456.5
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
23.519.518.919.621.725.122.220.220.824.7
21.921.623.824.824.223.821.320.423.223.1
21.327.0
Seasonally adjusted annual rates
Changein busi-
nessinven-tories
3.5
- . 6- 2 . 4- 6 . 2- 4 . 3- 2 . 7
2.43.15.5
- 2 . 41.2
4.99.64.0
- . 2- 1 . 9- 2 . 910.0- . 24.6
- 3 . 9
8.310.93.3.9
- 2 . 06.44.81.2
- 1 . 54.8
3.52.06.05.85.89.0
13.97.76.46.4
2.32.0
719.8721.1723.3715.9
729.7735.8740.7751.7
474.4477.1477.9474.2
484.8489.4494.3499.2
82.383.882.876.6
85.987.891.292.4
205.7206.5207.3209.7
210.0211.5211.6213.4
186.4186.8187.9187.9
188.9190.1191.4193.4
101.0102.7104.0101.2
104.3110.0106.7110.4
100.7100.7100.198.1
101.8105.9107.2108.6
79.379.480.175.5
77.779.178.979.6
24.624.424.223.5
22.622.922.121.8
54.755.055.952.0
55.056.256.857.8
21.421.320.022.6
24.126.728.328.9
0.32.03.93.1
2.54.1
- . 51.9
See footnotes at end of table.
196
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TABLE B-2.—Gross national product or expenditure in 1958 dollars, 1929-71—Continued
[Billions of 1958 dollars]
Year or quarter
1929
1930193119321933193419351936 . . .193719381939
1940194119421943194419451946194719481949 -. .
1950195119521953195419551956195719581959
19601961196219631964 . .19651966196719681969
19701971 v
1970- 1IIIIIIV . .
1971: 1IIIIIIV v __
Net exports of goods and services
Netexports
1.5
1.4.96
.0
.3- 1 0- 1 . 2- . 71.91.3
2.14
- 2 1- 5 . 9- 5 8- 3 8
8 412.36 16 4
2.75 33 01.13.03.25.06 22 2.3
4 35.14 55.68.36.24.23.61.0.1
2.4.5
Exports
11.8
10 48.97 17 17.37 78 29.89.9
10.0
11.011 27 86 87 6
10 219 622.618 118 1
16.319 318 217 818.820.924.226 223 123.8
27 328.030 032.136.537.440 242.145.748.5
52.252.3
Imports
10.3
9.07.96 67.17.18.79.3
10.58.08.7
8.910 89.9
12.613 413.911.210.312 011.7
13.614 115.216.715.817.719.119.920.923.5
23.022.925.526.628.231.236.138.544.748.3
49.851.8
Government purchases ofservices l
Total
22.0
24.325.424.223.326.627.031.830.833.935.2
36.456 3
117.1164.4181.7156.448.439.946.353.3
52.875 492.199.888.985.285.389.394.294.7
94.9100.5107.5109.6111.2114.7126.5140.2147.7145.6
139.4139.3
Federal
3.5
4.04.34.66.08.07.9
12.211.513.312.5
15.036.298.9
147.8165.4139.730.119.123.727.6
25.347.463.870.056.850.749.751.753.652.5
51.454.660.059.558.157.965.474.778.173.8
65.462.3
goods and
State andlocal
18.5
20.221.119.617.318.619.219.619.420.622.7
21.420.118.316.616.316.718.420.822.725.7
27.527.928.429.732.134.435.637.640.642.2
43.545.947.550.153.256.861.165.569.671.9
74.077.0
Seasonally adjusted annual rates
1.72.63.22.1
3.0
.1- . 7
51.652.852.451.9
52.953.154.548.6
49.950.149.249.8
49.853.754.449.4
142.6138.7138.2138.3
137.6137.0139.6142.9
69.465.363.863.2
61.360.762.764.3
73.273.474.375.2
76.376.376.678.8
* Net of Government sales.
Source: Department of Commerce, Bureau of Economic Analysis.
197
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TABLE B-3.—Implicit price deflators for gross national product, 1929-71
[Index numbers, 1958=100]
Year or quarter
1929
19301931... .19321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960 .196119621963196419651966196719681969
19701971 v
1970:1II. „IIIIV
1971:1IIIIIIVr
Totalgross
national
ucU
50.64
49.2644.7840.2539.2942.1642.6242.7344.5043.8843.23
43.8747.2253.0356.8358.1659.6666.7074.6479.5779.12
80.1685.6487.4588.3389.6390.8693.9997.4999.97
101.66
103.29104.62105.78107.17108.85110.86113.94117.59122. 30128.21
135.29141. 56
132.82134.32135.97138.07
139.88141.34142.21142. 74
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 8111.5114.4118.4123.5
129.4134.6
127.3128.7129.9131.7
133.0134.3135.3135.8
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
100.3103.4106.0
108.9112.4
107.6108.2109.2110.8
112.5112.9112.7111.7
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
101.2101.9102.8104.0104.9106.9110.7113.0117.1122.1
127.7131. 7
126.1127.4128.1129.2
130.1131.4132.4133.0
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
105.8107.6109.0110.9113.1115.1118.3122.2126.9133.2
140.2148.2
Gross private domestic 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
103.4103.9104.9106.0107.6109.3111.8115.9120.4126.4
132.6140.5
Seasonally adjusted
137.4139.3141.0143.1
145.6147.5149.3150.3
129.8131.2133.3136.2
137.7140.0141.7142.4
Fixed investment
Nonresidential
Total
39.9
38.135.832.931.634.935.935.638.839.338.7
40.042.747.849.951.051.056.364.570.772.8
74.480.482.684.084.886.792.497.9
100.0102.2
102.9103.4104.1104.5105.7107.5110.2113.8117.5123.0
130.0137.2
127.0128.6130.7133.6
134.9136.8138.4138.6
Struc-tures
35.7
34.031.127.627.928.930.630.234.433.933.1
33.936.441.346.848.649.254.464.471.571.2
72.979.383.284.986.088.193.498.6
100.0102.7
104.0105.6107.1108.9111.1114.7118.9124.0129.8141.1
152.0170.4
146.9149.6154.1157.9
162.1168.1174.9176.9
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
102.2102.1102.3102.3103.0103.9106.0109.3112.0115.1
120.1124.1
118.1119.3120.6122.6
123.7124.1124.3124.2
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
104.5105.0106.7108.9112.3114.2117.4123.1129.7137.9
142.4150.2
140.1140.9143.8144.7
146.9149.5150.9152.9
See footnotes at end of table.
198
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross national product, 1929-71—Continued
[Index numbers, 1958=1001
Year or quarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965196619671968.1969
1970.1971*
1970: L.IIIIIIV
1971: 1IIIIIIV*
Exports and imports ofgoods and services l
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
99.9101.9100.8100.6101.5104.7107.7109.7110.9114.7
120.6125.4
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
101.5103.4105.6106.5107.7110.8
119.2125.2
Government purchases of goodsand services
Total
38.6
37.936.333.434.536.837.037.638.438.337.9
38.544.050.953.953.152.655.862.968.171.0
71.878.581.081.884.187.192.196.4
100.0102.4
105.0107.1109.0111.8115.7119.4124.0128.5135.1144.0
157.3167.4
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
104.2105.2105.6108.0112.2115.5118.8121.5126.5134.4
148.6156.8
State andlocal
39.1
38.736.633.835.036.637.035.937.136.836.3
37.339.242.344.646.148.653.260.466.468.9
70.876.980.682.885.387.592.797.3
100.0102.6
105.9109.4113.2116.3119.5123.5129.4136.4144.8153.9
165.1175.9
Gross national product bysector
Private *
51.73
50.4545.6740.9139.9243.0143.5143.4545.3344.6543.93
44.6948.6655.5160.8562.0262.5968.2576.2781.4080.60
81.4187.3588.9989.6590.7791.5794.5397.9299.97
101.41
102.76103.73104.73105.80107.05108. 83111.56114.79118.90124.29
130.38136.03
Generalgovernment
34.1
34.134.533.733.534.834.736.536.537.436.8
36.034.737.339.743.348.355.458.560.864.7
67.170.574.476.679.584.088.793.3
100.0104.2
108.6113.6116.6121.5128.4133.5140.3147.6159.1171.1
188.7202.8
Seasonally adjusted
119.2119.8121.6121.7
125.2125.2125.2125.8
116.2117.7121.4121.5
123.4123.8125.5128.0
152.4156.1159.3161.7
165.6167.6167.5168.6
144.3148.2150.5151.8
157.2158.1155.6156.6
160.0163.1166.8170.2
172.4175.2177.3178.5
128.13129.43131.00132.98
134.44135.87136. 71137.07
183.8187.5190.4193.2
199.7202. 0203.2206.3
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 B-7 and B-8.
Source: Department of Commerce, Bureau of Economic Analysis.
199
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-4.—Gross national product by major type of product, 1929-71
[Billions of dollars]
Year orquarter
1929
19301931 . .19321933193419351936193719381939
194019411942 . . .1943194419451946194719481949
195019511952195319541955 . .1956195719581959
I960196119621963196419651966196719681969
1970 . . .1971*
1970: L___II . . .III. .IV. .
1971: L —I I . . .ML.IV p .
Totalgrossna-
tionalprod-uct
103.1
90.475.858.055.665.172.282.59C.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
503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1
974.11,046.8
Finalsales
101.4
90.777.060.557.265.871.281.287.985.690.1
97.5120.1156.2192.2211.1213.0202.1231.8252.9259.6
278.0318.1342.4364.1366.4392.0414 5439.8448.8478.9
500.2518.1554.3584.6626.6675.3735.1785.7857.1921.7
971.31, 044.7
la«™c o
1.7
- . 4- 1 . 1- ? 5- 1 . 6
i ! i
2. 5- . 9
.4
? ?4 51 R
- . 6- 1 . 0- 1 0
6 4- . 54 7
- 3 . 1
6.810.33.1
- 1 . 56.04 71.3
- 1 . 54.8
3 fi2.0fi n5.95 89.6
14.88 ?7.17.4
?.82.1
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
259.6262.3284.5298.6319.4347.2383.3398.9429.5457.3
468.3494.2
Finalsales
54.3
47.338.629.228.635.138.844.548.946.248.6
53.868.091.9
121.0133.3129.9118.5140.1149.4150.5
155.6179.4192.5203.7198.6210.4220.7233.3232.3244.4
256.0260.2278.5292.7313.6337.6368.5390.7422.4449.9
465.5492.1
II> o
1.7
- . 4- 1 . 1- ? . 5- 1 fi
l.'l1.32.5
- . 9.4
?.?4 51 8
- . 6- 1 . 0- 1 0
6.4- 54.7
- 3 1
fi 810.33.1
4- 1 S
6.04.71 3
- 1 S4 8
3 fi? 0fi 05 q5 89 fi
14.88.?7.17.4
?.82.1
Durable goods
Total
17.5
11.47.73 64.97.49.3
12.213.99.9
12.7
16.626.835.554 ?57.948.936.946.048.747.8
60.473.774.679.472.185.790.394.483.695.6
99.596.5
109.0116.1127.0139.6156.7161.1174.5185.3
180.2193.7
Finalsales
16.1
12.59.05.75.47.38.9
11.213.110.812.4
15.423.834.554.258.550.231.644.348.049.9
56.366.873.578.574.682.787.593.186.493.2
97.496.6
106.2113.3122.8133.0146.2156.5169.6180.9
180.8193.3
III 1
1.4
- 1 . 0- 1 . 2- ? n_ 5
!3.9.8
- . 9.3
1 ?3 01.0
.0- . 6
- 1 . 35 31.7
- 2 1
4.16.91.1.9
- 2 53.02 81.3
- 2 82.3
? 1- . 1? 82.84 ?6.7
10.54 74.94.5
- . 6. 4
Nondurable goods
Total
38.5
35.529.7?3.122.127.030.633.637.635.436.3
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, 5182.5192.4207.6226.6?37.7255.0272.0
288.1300.5
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
158.6163.7172.2179.4190.7204.7222.3234.2252.9269.0
284.7298.7
III"5
0.3
.7
.1- , 4
- 1 1- . 9
l!8.0.1
i n1 4
7- fi- . 3
?1 1
- ? ?4 0
- 1 0
? 73.42.0
- 51.02.91.9.0
1.3? 4
1 5? 13 ?3 11 63.04.33 h2.12.9
3.41.7
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
187.3199.5213.3226.2244.2262.9289.1316.5346.6377.4
410.3443.7
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
56.858 362.665.768.874.877.578.688.194.4
95.5108.9
Grossautoprod-uct
------
7 28.8
11 9
15 413.512 016.314 621.216 919 514 519.1
21.417 922.525.125.831.830.028.936.336.6
30.640.5
Seasonally adjusted annual rates
956.0968.5983.5988.4
1,020.81,040.01,053.41,073.0
955.6966.5978.4984.7
1,017.71,035.41,054.61,071.2
0.42.15.13.7
3.14.6
- 1 . 21.9
461.9468.6474.9467.7
485.5490.8496.2504.1
461.5466.6469.8464.0
482.4486.2497.4502.3
0.42.15.13.7
3.14.6
- 1 . 21.9
179.8181.8189.6169.7
192.8193.0193.9195.1
181.5183.7184.9173.1
189.4190.6196.4196.9
- 1 . 8- 2 . 0
4.7- 3 . 4
3.52.3
- 2 . 5- 1 . 9
282.1286.9285.3297.9
292.7297.8302.3309.0
279.9282.9284.9290.9
293.1295.5301.0305.3
2.24.0.4
7.1
- . 42.31.33.7
400.8406.2413.7420.6
432.3441.0446.3455.2
93.493.794.9
100.1
102.9108.2110.8113.8
30.935.234.122.0
42.139.842.138.1
Source: Department of Commerce, Bureau of Economic Analysis.
200
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-5.—Gross national product by major type of product in 1958 dollars, 1929-71
[Billions of 1958 dollars]
Year orquarter
1929 . . . .
19301931 .19321933193419351936193719381939
1940194119421943194419451946194719481949
19501951... .19521953195419551956195719581959
I960—196119621963 .1964196519661967 . . .19681969
19701971 v
1970: L . . .II . . .ML.IV...
1971: 1 . . .II —III..IVP.
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 8551.0581.1617.8658.1675.2706.6724.7
720.0739.5
719.8721.1723.3715.9
729.7735.8740.7751.7
Finalsales
200.1
184.1171.7150.5145.9157.0167.1189.9197.8195.3208.2
222.3254.1293.8337.3363 2358.2302.6310.1319.1328.1
347.0372.5391.8411.8409.0431.6441.2451.2448.8471.1
484.2495 2523 8545.2575.2608.8644.2667.5700.2718.2
717.7737.5
719.5719.1719.4712.8
727.2731.7741.2749.9
Inve
ntor
ych
ange
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 . 0
6.44.81 2
- 1 . 54.8
3.52 06 05.85.89.0
13.97.76.46.4
2.32.0
0.32.03.93.1
2.54.1
- . 51.9
Goods output
Total
103.9
90.583.268.768.877.988.6
102.2110.2100.5110.7
124.0143.4158.1187.4204 8198.0172.1172.2178.4174.2
192.6208.4214.0225.4215.1236.1239.0239.8230.8247.7
756.0257 3277.3289.7308.6330.7356.8363.1379.7389.9
383.0393.5
382.7385.4387.2376.7
388.1390.2394.4401.3
Total
Finalsales
100.4
91.185.774.973.280.586.299.1
104.8102.9109.5
119.0133.8154.1187.6206.7201.0162.1172.4173.8178.1
184.3197.5210.7224.5217.1229.7234.2238.5232.3242.9
252.6255.3271.3283.930?. 8321.7342.9355.4373.3383.4
380.7391.5
382.4383.4383.3373.6
385.6386.1394.9399.5
>»«II| l
3.5
- . 6- 2 . 4- 6 . 2- 4 . 3- 2 . 7
7.43.15.5
- 2 . 41.2
4.99.64.0
- . 2- 1 9- 2 . 910.0- . 24 6
- 3 . 9
8.310. 93.3
9- 2 . 0
6 44,81 7
- 1 . 54.8
3 57 06 n5 85.8q o
13.97 76.46.4
7.32.0
Dur
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
107.0114.2124.6136.5151.8152.2160.7165.9
156.1163.5
able go
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
104.1111.4120.4130.1141.9148.0156.2162.1
156.8163.0
)ds
t§c
?.7
- 2 . 1- 3 . 0- 5 . 1- 1 . 7
.7
.97.41.9
- 2 . 3.6
2.76.62.9.4
- 1 . 5- 3 . 1
8.61.51.2
- 3 . 0
5.28 01.51.2
- 3 . 03 43 01.2
- 2 . 82.4
2.0.0
2.82.84.16.59.84.34.43.8
- . 6.5
Nondi
Total
70.4
68.067.060.457.161.067.173.579.279.483.0
88.493.4
100.9101.7108.8113.7117.4112.2117.1116.2
119.1124.3129.4134.4133.2139.7142.5143.6147.2153.7
158.2162.3170.3175.6184.1194.2205.1210.9219.0224.0
226.9230.0
Seasonally adjusted annual rates
0.32.03.93.1
2.54.1
- . 51.9
157.7158.8163.7144.4
162.4162.3163.7165.6
159.4160.3160.0147.5
159.6160.2165.3167.0
- 1 . 6- 1 . 5
3.7- 3 . 1
2.82.2
- 1 . 6- 1 . 4
225. C226.1223.5232.3
225./227.8230.7235.7
jrable g
Finalsales
69.5
66.566.561.559.863.865.672.875.779.582.5
86.290.399.7
102.4109.3113.6116.0113.8113.8117.1
116.0121.4127.6134.6132.3136.7140.7143.6145.9151.2
156.7160 3167.2172.5182.3191.6201.0207.4217.0221.4
223.9228.5
223. (223.1223.C226.1
226. (225.5229. e232.^
oods
IIS.S1°
0.8
1.5.5
- 1 . 1- 2 . 7- 7 , 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
01.32.5
1.52.03.13.11 72.64.13.52.02.6
3.01.5
) 1.53.(.;
6.J) - . ,) 2.(> 1.\ 3.:
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. 7267.8
273.4278.9
) 273.> 272.I 273.I 274.
J 276.) 278.I 278.$ 282.
Struc-tures
30.3
25.320.213.79.8
11.112.817.519.117.721.8
23.230.531.917.912 412.927.231.236 137.5
45.244.444.747.050.254.354.052.653.157.0
55.055.858.860.461.665.265.063.067.267.0
63.667.1
3 64.13 63.43 62.25 64.7
2 65.44 67.23 67.31 68.3
Grossautoprod-uct
------
"io."311.414.8
19.115.913.518.717.124.618.620.214.518.5
21.017.522.024.725.531.830.629.035.435.0
28.335.9
29.133.031.619.6
36.834.737.534.7
Source: Department of Commerce, Bureau of Economic Analysis.
201
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B—6.—Gross national product: Receipts and expenditures by major economic groups,1929-71
[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..
I960..1961..1962..1963...1964...1965...1966...1967..1968...1969...1970..1971 p.
1970: I
I I I . . .IV...
1971:
IIL.IV P.
Persons
Disposable personalincome
Total »
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3404.6438.1473.2511.9546.3591.0634.2687.8741.2
Less:Inter-
estpaidand
trans-fer
pay-mentsto for-eigners
1.9
1.2.9.7.7.6
!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
10.712.013.013.915.116.717.918.6
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
342.3356.3376.6394.9427.4461.3498.9532.4575.9617.5669.9722.6
Per-sonalcon-
sump-tionex-
pendi-tures
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.3
108.3119.7143.4160.7173.6176.8
191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6615.8662.2
Per-sonalsaving
ordis-
saving
4.2
3.42.6
- . 6- . 9
.42.13.63.8
.72.6
3.811.027.633.437.329.615.27.3
13.49.4
13.117.318.118.316.415.820.620.7ZZ7319.1
17.021.221.619.926.228.432.540.439.837.954.160.4
Government
Net receipts
Taxandnon-taxre-
ceiptsor ac-cruals
11.3
10.89.58.99.3
10.5n.n12.915.415.015.4
17.725.032.649.251.253.250.956.858.956.0
68.784.889.894.389.7
100.4109.0115.6114.7128.9
139.8144.6157.0168.8174.1189.1213.3228.9263.5295.6300.5320.8
Less:Trans-fers,inter-est,andsub-
sidies »
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
36.541.342.844.446.749.955.562.870.778.494.2
108.0
Equals:Netre-
ceipts
9.5
8.96.36.36.77.48.08.8
12.211.211.2
13.321.028.244.444.742.832.439.540.134.7
45.864.970.874.867.876.983.586.881.695.0
103.3103.3114.2124.3127.3139.2157.9166.2192.7217.2206.3212.8
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
136.1149.0159.9166.9175.4186.9212.3242.9270.3288.2313.6341.1
Less:Trans-fers,inter-
andsub-
sidies'
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
36.541.342.844.446.749.955.562.870.778.494.2
108.0
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
99.6107.6117.1122.5128.7137.0156.8180.1199.6209.7219.4233.1
Seasonally adjusted annual rates
667.6685.7696.2701.5722.0739.6748.5754.8
17.517.818.018.318.418.618.818.8
650.1667.9678.2683.2703.6721.0729.7736.0
604.0613.8620.9624.7644.9657.4668.8677.7
46.254.257.458.558.663.661.058.4
296.6301.8301.7301.9312.3317.8322.0
82.797.596.899.8
101.4109.1110.3110 7
213.9204.3204.9202.1210.9208.7211.7
300.0314.0316.9323.7329.3338.7344.1351.7
82.797.596.899.8
101.4109.1110.3110.7
217.3216.5220.1223.7227.9229.6233.8240.9
Sur-plusor
deficit< - ) ,
na-tional
in-comeand
prod-uct ac-counts
1.0
-5 9- 1 . 8- 1 . 4- 2 . 4- 2 . 0- 3 . 1
- L 8- 2 . 2
- . 7- 3 . 8
-31.4-44.1-51.8-39.5
5.414.48.5
- 3 . 2
7.85.8
-3.8- 6 . 9- 7 . 0
2.74.9.7
-12.5- 2 . 1
3.7- 4 . 3- 2 . 9
1.8—1.4
2.21.1
-13.9- 6 . 8
7.4-13.1—20.3
- 3 . 4-12.2-15.2-21.7-17.1-20.9-22.2
See footnotes at end of table.
202
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B-6.—Gross national product: Receipts and expenditures by major economic groups,
1929- 77—Continued[Billions of dollars]
Yearor
quarter
1929...
1930—1931 —1932—1933...1934...1935...1936—1937...1938...1939—
1940...1941...1942...1943...1944...1945...1945—1947...1948...1949...
1950...1951.. .1952...1953...1954...1955...1956...1957...1958...1959...
1960...1961...1962...1963...1964...1965...1966...1967...1968...1969...
1970...1971P_.
1 9 7 0 : I . . .I I . .I I I . .I V . .
1 9 7 1 : I . . .I I . .I I I .
Business
Grossre-
tainedearn-ings 3
11.2
8.65.33.23.25.26.46.77.78.08.4
10.511.414.516.317.115.114.520.228.029.7
29.433.135.136.139.246.347.349.849.456.8
99.3112.7
Grosspri-vate
domes-tic
invest-ment*
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
56.858.766.3R8.876.284.791.393.095.495.6
74.871.783.087.194.0
108.1121.4116.6126.0137.8135.3150.8
Excessof in-vest-ment
- 5 . 1
- 1 . 6- . 32.21.81.9.0
- 1 . 8- 4 . 0
1.6- . 9
- 2 . 7- 6 . 5
4.610.610.04.6
-16.1-13.8-18.0- 6 . 0
-24.7-26.2-16.8-16.5-12.5-21.1-22 .8-18.1-11.5-18.5
-18.0-13.0-16 .8-18.4-17.8-23.4-30.1-23 .5-30 .6-42.1
- 3 6 . 0-38 .1
International
Nettrans-fers to
for-eignersby per-
sonsand
Govern-ment
0.4
.3
.3
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.3
.82.92.64.55.6
4.03.52.52.52.32.52.42.32.42.42.42.62.72.82.82.82.83.02.92.93.13.4
Net exports of goodsand services
Ex-ports
7.0
5.43.62.52.43.03.33.54.64.34.4
5.45.94.84.45.37.2
14.719.716.815.8
13.818.718.016.917.819.823.626.523.123.5
27.228.630.332.337.139.243.446.250.655.662.965.5
Less:Im-ports
5.9
4.43.12.12.02.43.13.44.33.03.4
3.64.64.86.57.17.97.28.2
10.39.6
12.015.115.816.615.917.819.620.820.923.3
23.223.025.126.428.632.338.141.048.153.659.364.8
Equals:Netex-
ports
1.1
1.0.5.4.4.6.11
!31.31.1
1.71.3.0
- 2 . 0- 1 . 8- . 67.5
11.56.46.1
1.83.72.2.4
1.82.04.05.72.2.1
4.05.65.15.98.56.95.35.22.52.03.6
.7
Excessof
trans-fers
orof net
ex-ports(-)»
- 0 . 8
- . 7- . 2- . 2- . 2- . 4
.1
.1- . 1
- 1 . 1- . 9
- 1 . 5- 1 . 1
.22.22.11.4
- 4 . 6- 8 . 9- 1 . 9- . 5
2.2- . 2
.32.1.5.5
- 1 . 5- 3 . 4
.22.3
- 1 . 7- 3 . 0- 2 . 5- 3 . 1- 5 . 7- 4 . 1- 2 . 4- 2 . 2
.4
.9- . 42.7
Totalincomeor re-ceipts
102.4
91.275.157.755.064.572.581.390.584.189.2
98.7124.1159.0193.6207.6208.0208.4230.4259.5256.2
283.3325.1343.3361.6362.1395.9420.4441.1445.8484.5
504.8520.8559.8590.8633.7688.0750.9794.6866.9933.2
978.61,051.5
Statis-ticaldis-crep-ancy
0.7
- . 8.7.3.6
-.21.2.0.6
1.3
1.0.4
- 1 . 1- 2 . 0
2.53.9
]9- 2 . 0
.3
1.53.32.23.02.72.1
- 1 . 1.0
1.6- . 8
- 1 . 0- . 8
.5- . 3
- 1 . 3- 3 . 1- 1 . 0
- . 7- 2 . 7- 4 . 1
- 4 . 5- 4 . 7
Grossna-
tionalprod-uct
or ex-pendi-ture
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1
974.11,046.8
Seasonally adjusted annual rates
96.299.1
100.4101.5
107.6111.9113.0
131.2134.1138.6137.3
143.3152.9150.8156.5
-35.0-35.0-38.2-35.8
-35.7-41.0-37.8
3.03.03.23.3
3.13.43.73.5
61.563.263.763.2
66.266.568.261.2
58.059.059.760.5
61.566.468.263.2
3.54.24.02.7
4.7.1.0
- 2 . 0
- 0 . 5- 1 . 1- . 7
.7
- 1 . 63.33.75.5
963.2974.3986.7990.1
1,025.21,044.91,058.1
-7.3-5.8-3 .2-1.6
-4 .3-4 .9-4 .7
956.0968.5983.5988.4
1,020.81,040.01,053.41, 073.0
1 Personal income less personal tax and nontax payments (fines, penalties, etc.).2 Government transfer payments to persons, foreign net transfers by Government, net interest paid by government,
subsidies less current surplus of government enterprises, and disbursements less wage accruals.3 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allowances, and
private wage accruals less disbursements.• Private business investment, purchases of capital goods by private nonprofit institutions, and residential housing.
See Table B - l l .5 Net foreign investment less capital grants received by the United States, with sign changed.
Source: Department of Commerce, Bureau of Economic Analysis.
203
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-7.—Gross national product by sector, 1929-71
[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..
I960..1961..1962..1963..1964..1965..1966..1967..1968..1969..
1970..1971J'
1970: I.I I . . .I I I . .I V . . .
1971:I I . . .III. .IV p..
Totalgross
nationalproduct
103.1
90.475.858.055.665.172.282.590.484.790.5
99.7124.5157.9191.6210.1211.9208.5231.3257.6256.5
284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7
503.7520.1560.3590.5632.4684.9749.9793.9864.2929.1
974.11,046.8
Gross private product»
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
456.3469.2505.7532.4569.4617.1673.3708.8769.3825.3
859.8922.8
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
440.7452.3487.4513.0548.2594.4648.9681.6739.0792.5
823.4880.7
Business
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
420.2431.4466.2491.5527.6570.8624.0657.0713.9764.5
795.2850.8
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
20.520.921.22L.520.623.724.924.625.228.0
28.230.0
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
13.214.015.016.017.318.520.222.825.528.5
31.735.5
Rest ofthe world
0.8
.7
.5
.4
.3
.3
.4
.3
.3
.4
.3
.4
.4
.4
.4
.4
.4
.6
.81.01.0
1.21.31.31.31.61.82.12.22.02.2
2.42.93.33.44.04.24.14.54.74.3
4.66.5
Seasonally adjusted annual rates
Grossgovern-
mentproduct*
4.3
4.54.74.44.75.65.97.36.97.67.6
7.89.4
15.125.632.235.220.816.717.419.4
?0.927.431.231.932.534.236.639.142.144.3
47.550.954.758.163.067.876.685.194.9
103.8
114.4124.0
956.0968.5983.5988.4
1, 020.81,040.01,053.41,073.0
844.5854.8868.3871.6
899.2916.9928.9946.1
809.1819.7831.3833.5
859.2874.6886.9902.2
779.3790.9804.1806.4
831.1845.7856.1870.1
29.828.827.127.1
28.128.930.832.0
30.931.032.133.0
34.235.035.937.0
4.54.14.85.1
5.87.36.06.9
111.6113.8115.2116.8
121.5123.1124.5127.0
1 Gross national product less compensation of general government employees.2 Includes compensation of employees in government enterprises. Government enterprises are those agencies of gov-
ernment whose operating costs are to a substantial extent covered by the sale of goods and services, in contrast to thegeneral activities of government, which are financed mainly by tax revenues and debt creation.
3 Compensation of general government employees.
Source: Department of Commerce, Bureau of Economic Analysis.
104
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-8.—Gross national product by sector in 1958 dollars, 1929-71
[Billions of 1958 dollars]
Year orquarter
1929
1930193119321933 .1934193519361937.. . . . .19381939 . .
19401941 .194219431944 .19451946194719481949
195019511952. . . ...19531954 .195519561957 .19581959
19601961 . . .196219631964 .19651966196719681969
19701971 v
1970: 1.II.IllIV
1971: L . . .IIIIIIV *__
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
487.7497.2529.8551.0581.1617.8658.1675.2706.6724.7
720.0739.5
Gross private product1
Total
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 9503.2532.0567.0603.5617.5647.0664.0
659.4678.3
Business
Total
182.1
161.4147.7123.8120.6131.1144.9165.4176.4164 6180.7
197 1228 1248.7264 9278.9274.6267 0272.«286.0284.7
314.2334 5343.2360 7355.4385.4392 2397.5391.7419.4
429.5436.9466.7486.6514.4548.9584.9597.8626.5643.5
638.5655.4
Nonfarm'
165.1
145.4129.2105.8103.0116.6128.4150.5158.5146 8162.5
179 6209 3228.0245 3259.5256.5248 6255.8267.0266.2
294.9316 2324.2340 7335.0364.4371 4377.2370.9398.3
407.6414.8444.6463.8492.1525.2562.5573.9603.1619.3
614.6629.8
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
21.922.222.122.822.323.722.423.923.424.2
23.925.6
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
12.212.412.913.213.714.014.615.416.016.5
17.017.8
Rest ofthe world
1.4
1.61.41.31.21.01.11.0.8
1 i.9
1 0.9.8.8.9.8.9
1.11.21.2
1.31.21.21.31.61.82.02.12.02.2
2.32.93.43.43.94.13.94.34.54.0
4.05.1
Grossgovern-
mentproduct3
12.7
13.313.513.214.016.017.119.918.920 420.6
21.627.240.564 374.472.837.528.628.730.1
31.138.841.841.740.940.741.341.942.142.5
43.744.846.947.849.150.854.657.659.760.7
60.661.2
Seasonally adjusted annual rates
719.8721.1723.3715.9
729.7735.8740.7751.7
659.1660.4662.8655.4
668.9674.9679.4690.2
637.9640.1641.8634.1
646.6651.4656.9666.7
614.4616.1618.6609.2
621.7626.4630.1641.1
23.523.923.224.9
24.925.026.825.6
17.116.817.017.1
17.617.717.818.2
4.13.64.04.2
4.75.84.75.3
60.760.760.560.5
60.860.961.361.5
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.
3 Compensation of general government employees.
Source: Department of Commerce, Bureau of Economic Analysis.
205451-ft»8 O—72
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-9.—Gross national product by industry in 1958 dollars, 1947-70
[Billions of 1958 dollars]
Year
194719481949 . . .
19501951 . .195219531954.
1955 . . . .1956195719581959
19601961-196219631964
19651966196719681969
1970
Totalgross
na-tionalproduct
309.9323.7324.1
355.3383.4395.1412.8407.0
438.0446.1452.5447.3475.9
487.7497.2529.8551.0581.1
617.8658.1675.2706.6724.7
720.0
Agri-culture,fores-
try,andfish-eries
17.920.019.4
20.419.520.221.221.6
22.122.021.522.022.3
23.123.423.324.023.6
25.023.725.224.825.6
25.3
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
23.524.723.123.824.1
23.0
Manufacturing
Total
91 896.390.9
105.5116.2118.7128.6119.5
133.6134.1134.6123.7138.9
140.9140.4154.6162.4173.7
190.5205.7205.4219.2225.8
217.1
Du-rablegoodsindus-tries
52.355.050.5
60.869.071.579.171.2
80.779.479.669.679.9
81.079.790.095.6
102.4
114.8125.1123.9131.8135.8
127.9
Non-durablegoodsindus-tries
39.441.340.4
44.747.247.349.548.3
52.954.654.954.059.0
59.960.764.766.871.3
75.780.781.487.489.9
89.2
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
59.264.066.570.975.1
77.2
saleandretailtrade
52.754.255.2
60.461.462.964.965.5
71.673.875.175.180.8
82.383.588.992.898.9
104.8111.6113.9120.8125.1
127.1
Finance,insur-ance,andreal
estate
35.636.537.8
41.042.944.746.849.8
52.754.857.059.261.4
64.167.171.274.478.3
83.186.891.695.296.5
97.0
Serv-ices
30.631.932.1
33.134.034.535.335.4
38.240.241.842.945.1
46.748.350.852.254.7
57.760.663.465.868.0
68.6
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
58.061.865.568.670.2
69.9
Allother »
6 77.1
10.6
12.113.014.014.313.5
14.412 713.116.014.1
14.716.317.917.417.8
15.819.420.617.614.3
14.9
1 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, Bureau of Economic Analysis.
206
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-10.—Personal consumption expenditures, 1929-77
[Billions of dollars]
Yearor
quarter
1929
193019311932193319341935. . . .1936193719381 9 3 9 . - .
1940194119421943194419451946194719481949
195019511952195319541955195619571958 . . . .1959 . . . .
1960196119621963 . . .19641965."...19661967- . .1968 . . .1969 . . .
19701971 v..
1970: 1.II.IllIV
1971:1.IIIIIV
Ihil| |o.
o
77.2
69.960.548.645.851.355.761.966.563.966.8
70.880.688.599.308.319.743.460.773.676.8
91.006.3
216.7230.0236.5254.4266.7281.4290.1311.2
325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6
615.8662.2
2
9.2
7.25.53.63.54.25.16.36.95.76.7
7.89.66.96.66.78.0
15.820.422.724.6
30.529.629.333.232.839.638.940.837.944.3
45.344.249.553.959.266.370.873.184.089.9
88 6100.4
Durable goods
ce
SoE3<
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
20.118.422.024.325 830.330 330.537.540.4
37 146.2
hIsw'5
f lu.
4.8
3.93.12.11.92.22.63.23.63.13.5
3.94.94.73.93.84.68.6
10.911.911.6
14.114.414.314.915.016.617.517.317.118.9
18.919.320.522.225.026.929.931.434.336.3
37.439.5
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
10.511.212.313.3
14.214.7
Nondurable goods
153>
37.7
34.029.022.722.326.729.332.935.234.035.1
37.042.950.858.664.371.982.490.596.294.5
98.1108.8114.0116.8118.3123.3129.3135.6140.2146.6
151.3155.9162.6168.6178.7191.1206.9215.0230.8247.6
264 7278.8
32
1"OcCO
LU
19.5
18.014.711.411.514.216.218.419.918.919.1
20.223.428.433.236.740.647.452.354.252.5
53.960.463.464.465.467.269.973.676.478.6
80.582.985.788.292.998.8
105.8108.5115.3122.5
131.8136.6
-
1•occo
o
9.4
8.06.95.14.65.76.06.66.86.87.1
7.48.8
11.013.414.416.518.218.820.119.3
19.621.221.922.122.123.124.124.324.726.4
27.327.929.630.633.535.940.342.346.350.3
52.657.0
oT3CCO
.11
1.8
1.71.51.51.51.61.71.92.12.12.2
2.32.62.11.31.61.83.03.64.45.0
5.46.16.87.78.29.09.8
10.611.011.6
12.312.412.913.514.015.316.617.619.021.1
22.924.3
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
31.232.734.436.338.241.144.446.650.253.7
57.560.9
•§
30.3
28.726.022.220.120.421.322.824.424.325.0
26.028.130.834.237.239.845.349.854.757.6
62.467.973.479.985.491.498.5
105.0112.0120.3
128.7135.1143.0152.4163.3175.5188.6204.0221.3242.1
262.5283.0
cSo3
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
46.348.752.055.459.363.567.571.877.384.0
91.299.7
Services
co
I"o
oX
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
20.020.822.023.124.325.627.129.131.233.7
36.139.3
111
2.6
2.21.91.61.51.61.71.92.01.92.0
2.12.42.73.43.74.05.05.35.85.9
6.26.77.17.87.98.28.69.09.3
10.1
10.810.611.011.411.612.613.614.515.516.5
17.919.0
o
12.2
11.510.38.67.98.28.79.5
10.29.9
10.1
10.411.212.314.015.616.819.721.423.323.9
25.426.928.730.833.235.538.641.344.348.0
51.654.958.062.568 173.880 488.597.3
107.8
117 3125.0
Seasonally adjusted annual rates
604.0613.8620.9624.7
644.9657.4668.8677.7
88.690.790.484.9
96.699.1
102.8103.2
37.839.138.832.7
43.845.348.247.5
37.337.637.037.6
38.839.439.640.5
13.514.014.614.6
14.014.515.115.3
259.4262.9265.5270.9
273.2277.8280.2283.9
128.9131.4132.4134.3
134.4136.3137.3138.6
51.652.152.454.2
55.457.057.458.0
22.522.622.923.5
23.823.824.525.0
56.456.957.859.0
59.660.861.062.2
256.1260.2265.0268.9
275.0280.5285.8290.6
88.790.391.894.1
96.598.7
100.7102.9
35.135.736.736.9
37.738.939.940.6
17.517.618.118.3
18.619.019.219.4
114.8116.6118.3119.5
122.3124.0125.9127.8
» Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.
Source: Department of Commerce, Bureau of Economic Analysis.
207
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B—11.—Gross private domestic investment, 1929-71
[Billions of dollars]
Year orquarter
1929
193019311932193319341935 .1936 . - .1937 ._ -19381939 . . -_
194019411942194319441945 .1946194719481949
195019511952195319541955195619571958 .1959
19601961 .19621963196419651966... . . .19671968. .1969
19701971 v _ . .
1970: 1IIIIIIV
1971: 1IIIllIV p . . . .
Totalgrossprivate
domesticinvest-ment
16.2
10.35 61 01.43 36 48.5
11.86 59.3
13 117.99.85 77.1
10.630 634.046.035 7
54 159 351 952.651.767.470 067 960 975 3
74 871.783 087.194.0
108.1121.4116.6126.0137.8
135.3150.8
131.2134.1138.6137.3
143.3152.9150.8156.5
Total
14.5
10.66.83.43.04.15.37.29.27.48.9
11.013.48.16.48.1
11.624.234.441.338.8
47.349.048.852.153.361.465.366.562.470.5
71.369.777.081.388.298.5
106.6108.4118.9130.4
132.5148.7
130.8132.1133.5133.6
140.2148.3152.0154.6
Fixet1 investment
Nonresidential
Total
10.6
8.35.02.72.43.24.15.67.35.45.9
7.59.56.05.06.8
10.117.023.426.925.1
27.931.831.634.233.638.143.746.441.645.1
48.447.051.754.361.171.381.683.388.898.6
102.1108.2
100.8102.1104.8100.8
104.7108.3109.3110.4
Structures
Total
5.0
4.02.31.2.9
1.01.21.62.41.92.0
2.32.91.91.31.82.86.87.58.88.5
9.211.211.412.713.114.317.218.016.616.7
18.118.419.219.521.225.528.528.030.334.5
36.838.1
36.136.637.337.1
36.738.538.738.6
Non-farm
4.8
3.92.3
.91.01.21.62.41.81.9
2.22.81.81.21.72.76.16.78.07.7
8.510.410.511.912.313.616.517.215.815.9
17.417.718.518.820.524.927.827.329.633.7
35.937.2
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
30.328.632.534.839.945.853.155.358.564.1
65.470.1
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
27.725.829.431.236.341.648.450.053.659.2
60.062.6
Residential structures
Total
4.0
2.31.7
.6
.91.21.61.92.02.9
3.43.92.11.41.31.57.2
11.114.413.7
19.417.217.218.019.723.321.620.220.825.5
22.822.625.327.027.127.225.025.130.131.8
30.440.6
Seasonally adjusted annual rates
35.335.736.536.3
35.837.637.737.6
64.765.667.563.7
68.169.870.671.8
59.760.661.658.1
61.062.462.764.4
30.029.928.732.8
35.440.042.744.2
Non-form
3.8
2.21.6.7.5.8
1.1
L81.92.8
3.23.71.91.21.11.46.7
10.413.612.8
18.616.416.417.219.022.720.919.520.124.8
22.222.024.826.426.626.724.524.529.531.2
29.740.1
29.429.328.132.2
35.039.542.143.6
Farm
0.2
.11
.0
.011
.1
.1
.1
.1
.2
.2
.2
.1
.5
]9.8
8.8.8.8
.6
.7
.6
.6
.6
.6
.6
.6
.5
.5
.5
.6
.5
.6
.6
.5
0.6.6.6.6
.4
.5
.6
.6
Change inbusiness
inventories
Total
1.7
- . 4—1 1- 2 5- 1 . 6
1.11.32.5
- 9
2.24.51.8
- . 6- 1 . 0- 1 . 0
6.4- . 54.7
- 3 . 1
6 810.33.1.4
- 1 . 56.04.71.3
- 1 . 54.8
3.62.06.05.95.89.6
14.88.27.17.4
2.82.1
Non-farm
1.8
- . 1—1 6- 2 6- 1 . 4
42.11.7
- 1 0.3
1.94.0.7
—.6- . 6- . 66 4It 33.n
- 2 . 2
6 09 12.11.1
- 2 . 15.55.1.8
- 2 . 34.8
3 31.75.35.16.48.6
15.07.56.97.3
2.51.5
0.42.15.13.7
3.14.6
- 1 . 21.9
0.11.84.73.3
2.94.1
- 2 . 01.0
Source: Department of Commerce, Bureau of Economic Analysis.
208
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-12.—National income by type of income, 1929-71
[Billions of dollars]
Year orquarter
1929
1930193119321933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963.196419651966196719681969
19701971 v
1970- 1IIIIIIV. .
1971: L . . .III 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
414.5427.3457.7481.9518.1564.3620.6653.6711.1763.7
795 9850.8
785 8793.4802 2802.1
831.7847.3855.2
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
294.2302.6323.6341.0365.7393.8435.5467.2514.6565.5
601.9641.8
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
270.8278.1296.1311.1333.7358.9394.5423.1464 9509.6
541 4574.2
593 2598.5606 5609.3
627.3638.0645.6656.5
534 7538.5545 2547.2
561.4571.0577.3586.9
Sup-ple-
mentsto
wagesand
sala-ries *
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
23.424.627.529.932.035.041.044.249.756.0
60.567.7
58 560.061 362.1
65.967.068.369.6
Business and pro-fessional income
Total
9.0
7.65.83.63.34.75.56.77.26.97.4
8.611.114.017.018.219.221.620.322.722.6
24.026.127.127.527.630.331.332.833.235.1
34.235.637.137.940.242.445.247.349.550.3
51.052.1
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
34.335.637.137.940.342.845.647.650.351.1
51.752.9
Inven-toryvalu-ation
adjust-ment
0.1
.8
.6
.3- . 5
1
!o- . 1
. 0
.2- . 2
.0- . 6- . 4- . 2- . 1- . 1
- 1 . 7- 1 . 5- . 4
.5
- 1 . 1- . 3
.22
.'o- . 2- . 5- . 3- . 1- . 1
.0
.0
.0
.0- . 1
4-A- . 3- . 7- . 8
- . 7- . 8
In-come
offarmpro-prie-tors »
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
12.012.813.013.112.114.816.114.814 716.8
15 816.3
Seasonally adjusted annual rates
50 251.051 451.5
51.651.952.352.5
17 816.614 514.4
14.815.217.018.1
Rentalin-
comenfor
per-sons
5.4
4.83.82.72.01.71.71.82.12.62.7
2.93.54.55.15.45.66.67.18.08.4
9.410.311.512.713.613.914.314.815.415.6
15.816.016.717.118.019.020.021.121.222.6
23.324.3
23 023.223 423.7
23.824.224.524.6
Corporate profitsand inventory
Total
10.5
7.02.0
- 1 . 3- 1 . 2
1.73.45.66.84.96.3
9.815.220.324.423.819.219.325.633.030.8
37.742.739.939.638.046.946.145.641.151.7
49.950.355.758.966.376.182.478.784.378.6
70.880.7
69 871.573 069.0
79.582.580.0
valuationadjustment
rateprofitsbeforetaxes '
10.0
3.7- . 4
- 2 . 31.02.33.66.36.84.07.0
10.017.721.525.124.119.724.631.535.228.9
42.643.938.940.638.348.648.847.241.452.1
49.750.355.459.466.877.884.279.887.684.2
75.485.2
75 675.878 571.6
83.086.985.8
Inven-toryvalu-ation
adjust-ment
0.5
3.32.41.0
- 2 . 1- . 6- . 2- . 7
. 01.0
- . 7
- . 2- 2 . 5- 1 . 2- . 8- . 3- . 6
- 5 . 3- 5 . 9- 2 . 2
1.9
- 5 . 0- 1 . 2
1.0- 1 . 0- . 3
- 1 . 7- 2 . 7- 1 . 5- . 3- . 5
.2- . 1
.3- . 5- . 5
- 1 . 7- 1 . 8- 1 . 1-3 .3-5 .5
- 4 . 5- 4 . 4
- 5 8- 4 . 2- 5 5- 2 . 6
- 3 . 5- 4 . 4- 5 . 8- 4 . 0
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
8.410.011.613.815.818.221.424.4?6 929.9
•n o35.6
31 832.633 434.2
34.835.435.936.4
* 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 B-13.
s 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.
1 Includes change in inventories.< See Table B-73 tor corporate tax liability and profits after taxes.
Source: Department of Commerce, Bureau of Economic Analysis.
209
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-13.—Relation of gross national product and national income, 1929-71
[Billions of dollars]
Year or quarter
1929
1930193119321933 . .193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969 . .
19701971*
1970: 1||IIIIV
1971:1 . . . .IIIIIIV v
Grossna-
tionalprod-uct
103.1
90 475.858.055.665.1<72.282.590 484.790.5
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 3590.5632.4684.9749.9793.9864.2929.1
974.11,046.8
Less:Capital
con-sump-
tionallow-ances
7.9
8 07.97.47.06.86.97.07 27.37.3
7.58 29.8
10.211.011.39.9
12 214 516.6
18.321 223 225.728 231.534.137 138 941.4
43 445.250 052.656.159.863.968.974.581.1
87 695.2
Equals:Net
tionalprod-uct
95.2
82 468.050.748.658.265.475.483 377.483.2
92.2116 3148.1181.3199.1200.7198.6219 1243 1239.9
266.4307 2322.3338.9336 6366.5385.2404 0408 4442.3
460 3474.9510 4537.9576.3625.1685.9725.0789.7848.0
886 5951.6
Plus:Sub-sidiesless
currentsurplusof gov-
ern-mententer-prises
- 0 . 1
_ i.0.0.0.3.4.0
1.2
.41
.2
.2
.7
.8
.9_ 2_ l- . 1
.22
- . 1- . 4_ 2- . 1
.89
.9
.1
.21.41.4.8
1.31.32.31.4.7
1.1
1.7.9
Less:
Indirect business tax andnontax liability
Total
7.0
7 26.96.87.17.88.28.79 29.29.4
10.011.311.812.714.115.517.118 420.121.3
23.325.227.629.629.432.134.937.338.541.5
45.247.751.554.758.462.565.770.478.685.7
92.9102.1
Federal
1.2
1 0.9.9
1.62.22.22.32 42.22.3
2.63.64.04.96.27.17.87 88.08.0
8.99.4
10.310.99.7
10.711.211.811.512.5
13.513.614.615.316.116.515.716.318.019.0
19.320.2
Stateandlocal
5.8
6 16.05.85.45.66.06.46.86.97.0
7.47.77.77.88.08.49.3
10.612.113.3
14.515.817.318.719.721.423.625.527.028.9
31.734.136.939.442.345.949.954.160.666.7
73.681.9
Busi-ness
transferpay-
ments
0.6
5.6.7.7.6.6.6.6
'.5
. 4
.5
.5
.5
.5
.5
.5
.6
.8
.8
.91.01.21.11.21.41.51.61.7
1.92.02.12.32.52.73.03.13.43.7
3.94.3
Sta-tistical
dis-crep-ancy
0.7
- 8.7.3.6
-.21.2.0.6
1.3
1.0.4
- 1 . 1- 2 . 0
2.53.9.1.9
- 2 . 0.3
1.53.32.23.02.72.1
- 1 . 1.0
1.6- . 8
- 1 . 0- . 8
- . 3- 1 . 3- 3 . 1- 1 . 0- . 7
- 2 . 7- 4 . 1
- 4 . 5- 4 . 7
Equals:
tionalincome
86.8
75 459.742.840.349.557.265.073.667.472.6
81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5
241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0
414.5427.3457.7481.9518.1564.3620.6653.6711.1763.7
795.9850.8
Seasonally adjusted annual rates
956.0968.5983.5988.4
1 020.81, 040. 01, 053.41, 073.0
85.486.988.289.8
92.093.996.298.7
870.6881.6895.3898.6
928.8946.1957.2974.4
1.41.81.91.7
1.8.7.7.5
89.791.994.295.8
99.0100.2103.0106.3
19.019.119.719.4
20.719.919 720.7
70.772.874.576.4
78.380.483.385.6
3.83.94.04.1
4.24.24.34.4
- 7 . 3- 5 . 8- 3 . 2- 1 . 6
- 4 . 3- 4 . 9- 4 . 7
785.8793.4802.2802.1
831.7847.3855.2
Source: Department of Commerce, Bureau of Economic Analysis.
210
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Relation of national income and personal income, 1929-71
[Billions of dollars]
Year or quarter
1929..
1930..1931-1932-1933-1934-1935..1936..1937..1938..1939..
1940-1941..1942..1943..1944..1945..1946-1947..1948..1949..
1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..
1960..1961..1962..1963..1964..1965..1966..1967..1968-1969..
1970..1971 P.
1970: III..III.IV..
1971: I...II..III.IV v
785.8793.4802.2802.1
831.7847.3855.2
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
414.5427.3457.7481.9518.1564.3620.6653.6711.1763.7
795.9850.8
Less:
Corpo-rate
profitsand in-ventory
valuationadjust-ment
10.5
7.02.01 2
- l ! 21.73.45.66.84.96.3
9.815.220.324.423.819.219.325.633.030.8
37.742.739.939.638.046.946.145.641.151.7
49.950.355.758.966.376.182.478.784.378.6
JO. 880.7
Contri-butions
forsocialinsur-ance
0.2
.3
.3
.3
.3
.3
.3
.61.82.02.1
2.32.83.54.55.26.16.05.75.25.7
6.98.28.78.89.8
11.112.614.514.817.6
20.721.424.026.927.929.638.042.447.154.0
57.665.2
Wageaccruals
lessdis-
burse- ;
ments
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.2- . 2
.0
.0
.0
.0
.0
.0
.1
.0- . 1
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
Gov-ernmenttransfer
paymentsto per-
sons
0.9
1.02.11.41.51.61.82.91.92.42.5
2.72.62.62.53.15.6
10.811.110.511.6
14.311.512.012.814.916.117.119.924.124.9
26.630.431.233.034.237.241.148.756.162.2
75.690.5
>lus
Interestpaidby
govern-ment(net)
and byconsumers
2.5
1.81.81.71.61.71.7L.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
15.115.016.117.619.120.522.223.626.129.0
31.731.9
Divi-dends
5.8
5.54.12.52.02.62.84.54.73.23.8
4.04.44.34.44.64.65.66.37.07.2
8.88.68.68.99.3
10.511.311.711.612.6
13.413.815.216.517.819.820.821.423 624.4
25.025.5
Busi-ness
transferpay-
ments
0.6
.5
.6
.7
.7
.6
.6
.6
.6
.4
.5
.4
.5
.5
.5
.5
.5
.5
.6
.7
.8
.8
.91.01.21.11.21.41.51.61.7
1.92.02.12.32.52.73.03.13.43.7
3.94.3
Equals:
Personalincome
Seasonally adjusted annual rates
69.871.573.069.0
79.582.580.0
56.257.458.458.5
64.064.665.466.6
2.5- 2 . 1- . 4
.0
.0
.0
.0
.0
67.477.377.280.7
83.792.292.593.3
30.931.132.232.4
31.831.432.232.3
25.024.925.225.0
25.625.425.725.3
3.83.94.04.1
4.24.24.34.4
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6465.5497.5538.9587.2629.3688.9750.3
803.6857.0
784.3803.8809.8816.7
833.5853.4864.6876.6
Source: Department of Commerce, Bureau of Economic Analysis.
211
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-15.—Disposition of personal income, 1929-71
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
Per-sonal
transferpay-
mentsto for-eigners
Equals:Per-
sonalsaving
Percent of disposablepersonal income
Personaloutlays
Total
Con-sump-tion
expend-itures
Per-sonalsaving
1929..
1930..1931..1932..19331934..1935..1936..1937..1938..1939..
1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..
1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..1965..1966..1967..1968..1969..
1970..1971 v
1970:
1971:
I...I I . . .III..IV..
I...I I . .ML.IV p.
Billions of dollars Percent
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
227.6255.6272.5288.2290.1310.9333.0351.1"361.2383.5
401.0416.8442.6465.5497.5538.9587.2629.3688.9750.3
803.6857.0
2.6
2.51.91.51.51.61.92.32.92.92.4
2.63.36.0
17.818.920.918.721.421.118.6
20.729.034.135.632.735.539.842.642.346.2
50.952.457.460.959.465.775.483.097.9
116.2
115.9115.8
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3404.6438.1473.2511.9546.3591.0634.2
687.8741.2
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
333.0343.3363.7384.7411.9444.8479.3506.0551.2596.3
633.7680.8
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
325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6
615.8662.2
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
10.111.312.413.214.315.8
16.917.7
0.3
.3
.3
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.1
.2
.4
.5
.7
.7
.7
.5
.5
.4
.4
.5
.5
.5
.6
.6
.6
.6
.5
.5
.5
.6
.6
.7
.6
.7
.8
.9
.9
.9
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
13.117.318.118.316.415.820.6^20.722.319.1
17.021.221.619.926.228.432.540.439.837.9
54.160.4
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
95.194.294.495.194.094.093.692.693.394.0
92.191.9
92.7
93.894.499.8
100.698.095.293.393.497.695.0
93.686.975.774.474.079.789.694.691.893.8
92.391.090.991.191.992.491.091.291.092.3
92.992.092.292.791.691.591.190.190.791.4
89.589.3
5.0
4.64.1
- 1 . 3- 2 . 0
.73.75.45.3
3! 7
5.111.823.625.025.519.79.54.37.15.0
6.37.67.67.26.45.77.06.77.05.6
4 . ^5.85.64.96.0 I6.06.47.4*6.76.0
7.98.1
Seasonally adjusted annual rates Seasonally adjusted
784.3803.8809.8816.7
833.5853.4864.6876.6
116.7118.0113.5115.2
111.6113.8116.0121.8
667.6685.7696.2701.5
722.0739.6748.5754.8
621.5631.5638.9643.0
663.3676.0687.6696.5
604.0613.8620.9624.7
644.9657.4668.8677.7
16.516.817.117.4
17.617.717.817.9
1.01.0.9.9
.9
.91.0.9
46.254.257.458.5
58.663.661.058.4
93.192.191.891.7
91.991.491.992.3
90.589.589.289.1
89.388.989.489.8
6.97.98.28.3
8.18.68.17.7
Source: Department of Commerce, Bureau of Economic Analysis.
212
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-16.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 dollars, 1929-71
Year or quarter
1929
1930193119321933 .193419351936193719381939
194019411942. . .1943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 :196619671968 . .1969
19701971*
1970: 1IIIIIIV
1971: 1IIIIIIV*
Disposable personal income
Total (billionsof dollars)
Currentdollars
83.3
74.564.048.745.552.458.566.371.265.570.3
75.792.7
116.9133.5146.3150.2160.0169.8189.1188.6
206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3
350.0364.4385.3404.6438.1473.2511.9546.3591.0634.2
687.8741.2
667.6685.7696.2701.5
722.0739.6748.5754.8
1958dollars
150.6
139.0133.7115.1112.2120 4131.8148.4153 1143.6155.9
166.3190.3213.4222.8231.6229.7227.0218.0229.8230.8
249,6255.7263 3275.4278.3296.7309.3315.8318 8333.0
340.2350.7367 3381.3407.9435.0458.9477.5499. 0513.5
531.5550.6
524.4533.0536.0532.5
542.7550.5553.2556.0
Per capita(dollars)
Currentdollars
683
605516390362414459518552504537
573695867976
1,0571,0741,1321,1781,2901,264
1,3641,4691,5181,5831,5851,6661,7431,8011,R311,905
1,9371,9842,0662,1392,2842,4362,6052,7512,9463,130
3,3583,581
1958dollars
1,236
1,1281,077
921893952
1,0351,1581,1871,1051,190
1,2591,4271,5821,6291,6731,6421,6061,5131,5671,547
1,6461,6571,6781,7261,7141,7951,8391,8441,8311,881
1,8831,9101,9692,0162,1262,2392.3382,4042,4872,535
2,5952,660
Personal consumption expenditures
Total (billionsof dollars)
Currentdollars
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
325.2335.2355.1375.0401.2432.8466.3492.1536.2579.6
615.8662.2
1958dollars
139.6
130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2
155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5
230.5232.8239.4250.8255.7274.2281.4288.2290.1307.3
316.1322.5338.4353.3373.7397.7418.1430.1452.7469.3
475.9491.9
Seasonally adjusted annual rates
3,2723,3533,3953,410
3,5003,5773,6113,622
2,5702,6062,6132,588
2,6312,6632,6692,668
604.0613.8620.9624.7
644.9657.4668.8677.7
474.4477.1477.9474.2
484.8489.4494.3499.2
Per capita(dollars)
Currentdollars
634
567487389364406437483516492510
536604656726782855
1,0141,1151,1841,185
1,2591,3371,3811,4411,4561,5391,5851,6431,6661,758
1,8001,8251,9041,9822,0922,2232,3732,4772,6732,861
3,0073,199
2,9613,0013,0273,037
3,1273,1803,2273,252
1958dollars
1,145
1,0591,016
919897934985
1,0801,1101,0791,131
1,1781,2401,1971,2131,2381,3081,4391,4311,4381,451
1,5201,5091,5251,5721,5751,6591,6731,6831,6661,735
1,7491,7561,8151,8671,9432,0482,1282,1652,2572,316
2,3242,376
2,3252,3332,3302,305
2,3502,3672,3852,395
Popu-lation(thou-
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
180,667183,672186.504189,197191 833194,237196,485198,629200,619202, 599
204,800207,006
204,012204.526205,107205, 729
206,259206,760207,276£08,423
• 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.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
213
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-17.—Sources of personal income, 1929-71
[Billions of dollars]
Year or quarter
1929 . . . .
19301931 . .19321933193419351936193719381939
19401941194219431944 . .19451946194719481949
1950 .195119521953 . . . .195419551956195719581959
1960196119621963196419651966196719681969
19701971 v
1970- 1IIIII . . . .IV
1971: 1IIIII... .IV p.
Totalper-
sonalincome
85.9
77.065.950.247.054.060.468.674.168.372.8
78.396.0
122.9151.3165.3171.1178.7191.3210.2207.2
227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5
401.0416.8442.6465.5497.5538.9587.2629.3688.9750.3
803.6857.0
784.3803.8809.8816.7
833.5853.4864.6876.6
Wage and salary disbursementsl
Total
50.4
46.239.130.529 033.736.741 946.143.045.9
49.862 182.1
105.6116 9117.5112.0123 0135.3134.6
146.7171.0185 1198.3196.5211 3227.8238.7239 9258.2
270.8278.1296.1311 1333.7358.9394.5423.1464.9509.6
541.4574.2
532.2540.6545.6547.2
561.4571.0577.3586.9
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 7134.1144.5159.3166.5181.5197.4
200.7205.7
202.2200.9201.4198.4
202.5205.7205.6209.0
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
100.6107.2115.6128.1134.2145.9157.6
158.3160.8
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
100.3109.2120.0
129.1138.8
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
41.544.046.849 954 158.363.770.578.588.1
96.7105.9
Seasonally adjusted annua
160.1158.9159.1155.1
158.9160.7160.5163.1
126.0127.9130.7131.8
135.3137.9139.6142.3
94.395.697.299.7
102 6104.9107.1108.9
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
48.752.256.059.564.369.377.785.895.7
104.1
114.8123.8
1 rates
109.8116.2116.2117.3
121.0122.6125.0126.7
Otherlabor
in-come1
0.6
.6
.5
.5
.4
.4
.5
.6
.6
.6
.6
.7
.7
.91.11.51.81.92.32.73.0
3.84.85.36.06.37.38.49.59.9
11.3
12.012.713.914.916.618.720.722.325.428.2
30.833.7
29.830.431.232.0
32 633.434.134.6
Proprinc
Busi-nessand
profes-sional
9.0
7.65.83.63.34.75.56.77.26.97.4
8.611.114.017.018.219.221.620.322.722.6
24.026.127.127.527.630.331.332.833.235.1
34.235.637.137.940.242.445.247.349.550.3
51.052.1
50.251.051.451.5
51 651.952.352.5
ietors'Dme
Farm>
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
12.012.813.013.112.114.816.114.814.716.8
15.816.3
17.816.614.514.4
14.815.217.018.1
See footnotes at end of table.
214
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-17.—Sources of personal income, 7929-71—Continued
[Billions of dollars]
Year orquarter
1929
19301931193219331934...19351936193719381939. . . .
194019411942..1943.1944...19451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
19701971 v
1970: I.
IV
1971: I.
IllIV 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
15.816.016.717.118.019.020.021.121.222.6
23.324.3
Divi-dends
5.8
5 54 12.52.02 62 84 54.73.23.8
4.04.44.34.44.64.65.66.37.07.2
8.88.68.68.99.3
10.511.311.711.612.6
13.413.815.216.517.819.820.821.423.624.4
25.025.5
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
23.425.027.731.434.938.743.648.052.958.8
64.767.5
Transfer payments
Total
1.5
1.52.72.22.12.22.43.52.42.83.0
3.13.13.13.03.66.2
11.311.711.212.4
15.112.513.014.016.017.318.521.425.726.6
28.532.433.335.336.739.944.151.859.665.9
79.694.7
Old age,survivors,disability,and healthinsurancebenefits
6.6.0.0
.0
.1
.1
.2
.2
.3
.4
.5
.6
.7
1.01.92.23.03.64.95.77.38.5
10.2
11.112.614.315.216.018.120.825.730.333.0
38.544.8
Stateunem-ploy-
ment in-surancebenefits
0.0.4.4
.5
.3
.3
.1
.1
.41.1.8.8
1.7
1.4.8
1.01.02.01.41.41.83.92.5
2.84.02.92.82.62.21.82.12.12.1
3.95.8
Vet-erans
hpnpfifc
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
4.64.84.85.05.35.65.76.67.38.3
9.711.5
Other
0.9
.91.11.41.61.81.91.61.81.92.0
2.02.22.22.22.42.73.13.74.14.9
7.95.96.06.36.56.87.27.98.79.4
10.010.911.212.212.914.015.717.520.022.5
27.432.6
Less:Personalcontri-butions
for socialinsur-ance
0.1
.2
.2
.2
.2
.2
.2
.6
.6
.6
.7
.81.21.82.22.32.02.12.22.2
2.93.43.84.04.65.25.86.76.97.9
9.39.6
10.311.812.513.417.720.522.826.3
28.031.2
Seasonally adjusted annual rates
Non-agricul-
turalpersonalincome 3
77.6
70.860.846.743.249.853.963.066.762.666.9
72.387.8
111.0137.3151.2156.4161.0173.0189.4191.3
210.9236.4254.1271.9274.7296.4318.5336.6344.3368.5
385.2400.0425.5448.1480.9519.5566.3609.4668.8727.7
781.4834.0
23.023.223.423.7
23.824.224.524.6
25.024.925.225.0
25.625.425.725.3
62.763.765.666.7
66.666.768.168.6
71.181.181.284.8
87.996.496.997.7
34.241.439.039.4
40.747.045.645.9
2.63.64.25.1
5.06.16.36.0
9.19.59.9
10.4
11.011.411.511.9
25.226.728.129.8
31.131.933.434.0
27.427.828.328.4
30.731.031.331.7
760.0780.8788.9796.0
812.0831.4840.8851.9
1 The total of wage and salary disbursements and other labor income differs from compensation of employees in TableB-12 in that it excludes employer contributions for social insurance and the excess of wage accruals over wage disburse-ments.
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, Bureau of Economic Analysis.
215
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B—18.—Sources and uses of gross saving, 1929-71
[Billions of dollars]
Year orquarter
1929
193019311932 . .1933193419351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
19701971 v
1970: L ._ .I I —III —IV...
1971: I . . . .II.. .III...IV*
Gross private saving and government surplus or deficit,national income and product accounts
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
101.0115.3124.9119.5128 3141.0
140.2152.8
Private saving
Total
15.3
12.18.02.52.35.68.6
10.311.58.7
11.0
14.322.442.049.754.344.729.727.541.439.0
42.550.353.354 455.662.167.870.571.775.9
73.979.887.988.7
102.4113.1123.8133.4135 2133.5
153.4173.1
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
17.021.221.619.926.228.432.540.439 837.9
54.160.4
Grossbusi-ness
saving
11.2
8.65.33.23.25.26.46.77.78.08.4
10.511.414.516.317.115.114.520.228.029.7
29.433.135.136.139.246.347.349.849.456.8
56.858.766.368.876.284.791.393.095 495.6
99.3112.7
Government surplusor deficit ( - )
Total
1.0
- . 3- 2 . 9- 1 . 8- 1 . 4- 2 . 4- 2 . 0- 3 . 1
- 1 . 8- 2 . 2
- . 7- 3 . 8
-31 .4-44 .1-51 .8-39 .5
5.414.48.5
- 3 . 2
7.85.8
- 3 . 8- 6 . 9- 7 . 0
2.74.9
-12 .5- 2 . 1
3.7- 4 . 3- 2 . 9
1.8- 1 . 4
2.21.1
-13 .9- 6 8
7.4
-13.1-20 .3
Fed-eral
1.2
.3- 2 . 1- 1 . 5- 1 . 3- 2 . 9- 2 . 6- 3 . 6- . 4
- 2 . 1- 2 . 2
- 1 . 3- 5 . 1
-33 .1-46.6-54 .5-42.1
3.513.48.4
- 2 . 4
9.16.2
- 3 . 8- 7 . 0- 5 . 9
4.05.72.1
-10 .2- 1 . 2
3.5- 3 . 8- 3 . 8
- 3 . 01.2
- . 2-12 .4- 6 5
7.3
-13 .6-23 .3
Stateandlocal
- 0 . 2
- . 6- . 8- . 3- . 1
.6
.5
.7
.4
.6
1.82.52.72.61.91.0.1
- 1 . 2- . 4
j
- 1 . 1- 1 . 3- . 9
- 1 . 4- 2 . 3- . 8
.2- . 5
.91.21.71.01.3
- 1 . 6_ 3
.1
.53.0
Capitalgrants
receivedby theUnitedStates
0.9
Gross investment
Total
17.0
11.05.81.11.63.86.48.4
11.87.6
10.2
14.619.09.63.55.09.1
35.242.947.936.2
51.859.551.650.551.366.971.671.260.773.0
76.574.785.590.399.7
112.2123.9118.8125 6136.9
136.6148.9
Grossprivatedomes-tic in-vest-ment
16.2
10.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.7
54.159.351.952.651.767.470.067.960.975.3
74.871.783.087.194.0
108.1121.4116.6126.0137.8
135.3150.8
Netforeigninvest-ment^
0 8
72
.224
_ 1
11 1.9
1.51.1
_ 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
- 4- . 9
1.3- 2 . 0
Statis-ticaldis-
crep-ancy
0.7
- 8.7.36
.5- . 21.2
o.61.3
1.0.4
- 1 . 1- 2 . 0
2.53.9.1.9
- 2 . 0.3
1.53.32.23.02.72.1
- 1 . 1.0
1.6- . 8
- 1 . 0- . 8
.5- . 3
- 1 . 3- 3 . 1- 1 . 0- . 7
- 2 . 7- 4 . 1
- 4 . 5- 4 . 7
Seasonally adjusted annual rates
139.0141.1142.6138.3
149.2154.6151.9
142.4153.3157.8160.0
166.2175.4174.0
46.254.257.458.5
58.663.661.058.4
96.299.1
100.4101.5
107.6111.9113.0
- 3 . 4-12 .2-15.2-21.7
-17 .1-20 .9-22 .2
- 4 . 5-14 .1-15 .4-20 .5
-16 .2-23 .7-26 .7
1.11.9.2
- 1 . 3
- . 82.84.6
0.9.9.9.9
.7
.7
.7
.7
132.6136.2140.2137.5
145.6150.3147.8151.7
131.2134.1138.6137.3
143.3152.9150.8156.5
1.42.01.6.2
2.3- 2 . 5- 3 . 0- 4 . 8
- 7 . 3- 5 . 8- 3 . 2- 1 . 6
- 4 . 3- 4 . 9- 4 . 7
1 Net exports of goods and services less net transfers to foreigners.2 Surplus of $32 million.3 Deficit of $41 million.
Source: Department of Commerce, Bureau of Economic Analysis.
216
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-19.—Saving by individuals, 1946-711
[Billions of dollars]
Year orquarter Total
Increase in financial assets
Total 2
Cur-rencyandde-
mandde-
posits
Sav-ingsac-
ountsGov-ern-ment
bonds:
Securities
lorpo-rateandfor-eign
bonds
Corpo-rate
stock *
Insur-anceandpen-sionre-
serves
Non-farm
homes
Net investment in
Con-sumer
du-rables
Non-cor-po-rate
busi-ness
assets
Mort-gagedebton
non-farm
homes
Less:Increase indebt
Con-sumercredit
Otherdebt*
1946..1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965..1966..1967..1968..1969..
1970
1970: LII.IllIV..
1971: I . . .IL.Ill
25.420.723.619.2
27.330.326.329.927.9
33.634.933.532.533.2
28.731.337.338.945.2
52.556.162.063.556.1
71.4
18.413.39.2
10.0
13.718.021.422.122.3
27.928.928.031.134.9
27.734.939.344.951.3
56.054.465.969.660.9
74.6
4.8- . 5
- 2 . 5- 1 . 9
2.24.61.7.5
1.9
1.2- . 53.3
.4
- 1 . 91.32.95.56.5
7.33.19.5
11.36.0
4.8
6.33.42.32.6
2.54.57.78.39.2
9.512.114.011.4
12.417.423.423.023.9
26.419.133.728.613.3
32.2
- 1 . 22.31.21.8
. 4- . 5
. 82.4
.9
5.93.41.9
- 1 . 98.1
2.9.7.8
4.34.2
4.49.5
- . 46.2
14.7
- 1 . 2
- 0 . 9- . 8- . 2- . 4
- . 8- . 2
. 0
. 0- . 4
1.1.9
1.01.1.3
.2
.3- . 6- . 6_ 5
.72.03.65.45.4
12.2
1.11.11.0.7
.71.61.6.9.7
1.12.01.51.5.6
- . 4.4
- 2 . 1- 2 . 8
.0
- 1 . 9- 1 . 0- 4 . 1- 7 . 5- 3 . 8
- 2 . 6
5.35.45.35.5
6.96.27.67.97.9
8.49.69.5
10.111.5
11.712.212.813.915.3
17.218.018.919.820.2
23.5
4.26.9
10.59.0
13.713.512.813.513.7
17.716.413.812.716.5
14.512.012.812.612.5
12.011.59.2
12.812.8
9.7
5.87.57.17.0
10.25.53.66.44.9
9.95.94.9
.65.5
5.12.96.78.9
11.2
14.815.212.416.715.5
8.4
3.33.27.42.4
6.44.52.51.62.7
3.51.92.43.33.2
2.13.25.66.96.2
9.07.28.27.78.0
7.7
3.84.35.04.1
7.47.16.47.78.6
12.211.28.88.8
12.6
10.810.912.714.816.0
15.212.310.514.916.2
12.5
2.73.22.82.9
4.11.24.83.91.1
6.43.52.6
.26.4
4.61.85.87.98.5
10.07.24.6
11.19.3
4.3
Seasonally adjusted annual rates
61.377.373.573.7
87.799.682.8
57.475.384.980.7
90.4114.497.3
5.57.55.11.1
10.915.74.6
5.030.744.249.1
97.967.857.6
16.- 3 .- 5 .
- 1 1 .
- 4 9 .- 5 .—•
0748
991
12.310.211.314.9
9.57.86.1
-6 .7- . 1
.7- 4 . 3
- 1 2 . 8- 3 . 2- 5 . 1
202621.
126
25.8
27.28.25.
546
10 610.289
12
09
015.216. 7
10.410.79.23.1
15.117.520.8
7.37.98.57.2
12.610.012.2
11.12.13.13.
13.22.27.
0270
171
466.
4.9.
12.
8122
006
- 0 . 22.62.62.4
5.22.82.92.16.0
6.83.54.26.27.9
5.48.88.5
11.911.4
13.912.718.617.415.5
12.1
8.58.5
17.213.9
25.225.824.5
1 Individuals' saving sector includes households, private trust funds, nonprofit institutions, farms, and other noncorporatebusiness.
2 Includes miscellaneous financial assets, not shown separately.3 U.S. Government and agency securities and State and local obligations.* Includes investment company shares.5 Private life insurance reserves, private insured and noninsured pension reserves, and government insurance and
pension reserves.8 Security credit, policy loans, noncorporate business debt, and other debt.
Source: Board of Governors of the Federal Reserve System.
217
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-20.—Number and money income (in 1970 dollars) of families and unrelated individuals t
by race of head, 1947-70
Year
FAMILIES194719481949
1950195119521953195419551956195719581959
1960 _196119621963196419651966196621967 21968 219692
19702
UNRELATEDINDIVIDUALS:»1947. . .1948..1949
19501951.19521953.19541955. . . . . . .1956195719581959
1960196119621963.. . .1964196519661966 2.. . . .19672196821969219702
Total
Totalnum-ber
(mil-lions)
37.238.639.3
39.940.640.841.242.042.943.543.744.245.1
45.546.347.047.447.848.348.9
49.149.850.551.2
51.9
8.28.49.0
9.49.19.79.59.79.99.8
10.410.910.9
11.111.211.011.212.112.112.4
12.313.113.814.5
15.4
Medianincome
$5,2595,1535,066
5,3855,5475,7036,1716,0236,4286,8426,8506,8267,216
7,3767,4577,6597,9278,2278,5598,902
8,9779,2859,6339,990
9,867
$1,7441,6601,763
1,7461,7862,0722,0301,7661,9102,0432,0851,9962,074
2,2562,2762,2512,2832,4832,6502,719
2,7953,0993,113
3,137
With incomesunder $3,000
Num-ber
(mil-lions)
8.48.99.7
9.18.48.27.98.77.97.27.37.47.2
7.17.16.86.56.05.75.4
5.35.04.44.4
Per-cent
22.523.124.6
22.820.720.019.120.818.416.516.816.715.9
15.615.414.413.712.611.811.1
10.910.18.88.6
4.6 8.9
With incomesunder $1,500
Num-ber
(mil-lions)
3.73.94.1
4.34.24.04.14.54.34.04.14.44.3
4.14.13.83.83.93.63.5
3.73.43.5
3.6
Per-cent
45.647.045.4
46.146.740.842.846.043.041.439.740.239.0
37.336.434.334.032.429.628.6
28.324.52-13
23.2
White
Totalnum-ber
(mil-lions)
34.135.3
38.239.039.539.740.240.9
41.141.942.442.743.143.541.0
44.144.845.446.0
46.5
7.27.3
8.28.58.58.99.29.3
9.69.69.59.7
10.410.510.8
10.711.312.012.5
13.4
Medianincome
$5,4785,3665,282
5,6015,7706,0206,4156,2916,7057,1487,1327,1187,517
7,6647,7838,0098,3078,5908,9259,255
9,3419,6289,97210,362
10,236
$1,8391,7401,875
1,8391,8802,2402,1561,9022,0392,1082,2232,1462,216
2,4392,4472,4082,3932,6162,7642,826
2,9053,2673,270
3,283
With incomesunder $3,000
Num-ber
(mil-lions)
6.77.1
7.06.25.65.75.75.4
5.55.65.34.94.74.44.3
4.13.93.43.4
3.5
Per-cent
19.520.221.8
20.318.017.417.118.316.014.214.314.213.3
13.413.312.411.610.910.29.7
9.38.77.57.3
7.5
With incomesunder $1,500
Num-ber(mil-I ions)
3.23.3
3.63.53.43.33.53.5
3.43.33.13.13.23.02.9
3.12.82.8
2.9
Per-cent
44.145.543.7
44 745.639.441.943.941.040.137.638.337.2
35.134.232.332.230.828.227.1
27.023.022.6
21.4
Negro and other races
Totalnum-ber
(mil-lions)
3.13.3
3.83.94.04.04.04.2
4.34.54.64.84.84.84.9
5.05.05.15.2
5.4
1.01.1
1.51.41.31.51.61.6
1.51.61.51.51.6
1.61.81.82.0
1.9
Medianincome
$2, 8072,8532,691
3,0143,0383,4213,5933,4933,7023,7673,8133,6453,883
4,2364,1424,2734,4014,8064,9305,536
5,5915,9786,2496,568
6,516
$1,2971,2731,335
1,3191,3931,5351,6831,2831,3731,5571,4531,4661,460
1,4451,5041,6151,6541,8382,0172,052
2,1482,2722,313
2,243
With incomesunder $3,000
Num-ber
(mil-lions)
1.71.7
1.71.61.61.61.61.7
1.61.61.51.61.41.31.2
1.21.11.01.0
1.1
Per-cent
53.652.355.1
49.749.442.640.744.441.039.539.641.239.9
36.436.633.932.628.527.324.5
24.122.519.818.9
20.1
With incomesunder $1,500
Num-ber
(mil-lions)
0.5.6
Per-cent
55.557.355.3
54.952.949.146.557.854.249.351.751.151.3
51.949.947.046.742.338.137.8
36.533.935.5
35.1
1 The term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residingtogether; all such persons are considered members of the same family.
2 Based on revised methodology.3 The term "unrelated individuals" refers to persons 14 years old and over (other than inmates of institutions) who are
not living with any relatives.Source: Department of Commerce, Bureau of the Census.
218
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
POPULATION, EMPLOYMENT, WAGES, ANDPRODUCTIVITY
TABLE B-21.—Population by age groups, 1929-71
[Thousands of persons]
July 1
1929
19301931193219331934
19351936193719381939 .
19401941194219431944
19451946194719481949
195019511952 . . .19531954
19551956195719581959
196011961 i19621 . .1963 1 . .19641
196511966 i196711968 i19691
19701
1970 219712
Total
121,767
123,077124,040124,840125, 579126.374
127,250128,053128,825129,825130,880
132,122133, 402134,860136,739138,397
139 928141,389144,126146,631149,188
152,271154 878157,553160,184163 026
165,931168 903171,984174,882177,830
180,684183 756186.656189,417192,120
194 592196.920199 114201, 152203,216
205, 395
204, 800207, 006
Age (years)
Under 5
11,734
11,37211,17910,90310,61210,331
10,17010,04410, 00910,17610,418
10,57910,85011,30112,01612,524
12,97913,24414,40614,91915,607
16,41017,33317,31217,63818 057
18, 56619 00319,49419,88720,175
20,36420 65720,74620.75020,670
20 40419,81119 16818, 50617, 960
17,741
17,18417,328
5-15
26,800
26,98326,98426,96926,89726,796
26,64526,41526,06225,63125,179
24,81124,51624,23124,09323,949
23,90724,10324,4^825,20925,852
26,72127,27928, 89430,22731,480
32,68233,99435,27236,44537,368
38,50439,76841,16841,62042,294
42 96343,82244 48844,97845, 260
45, 289
44,70144, 284
16-19
9,127
9,2209,2599,2849,3029,331
9,3819,4619,5789,7179,822
9,8959,8409,7309,6079,561
9,3619,1199.0978,9528,788
8,5428,4468,4148,4608,637
8,7448,9169,1959,54310,215
10,69811,09311,25812,06112,819
13,56314,30414 16714,33814, 655
15, 082
15.26515, 589
20-24
10,694
10,91511,00311,07711,15211,238
11,31711,37511,41111,45311,519
11,69011,80711,95512,06412,062
12,03612,00411,81411,79411,700
11,68011,55211,35011,06210,832
10,71410,61610,60310,75610,969
11,11611 40811,88912,62013,154
13 67914,06315 17815, 74816, 484
17,176
17,17618, 090
25-44
35,862
36,30936,65436,98837,31937,662
37,98738,28838, 58938,95439, 354
39, 86840, 38340,86141,42042, 016
42, 52143, 02743,65744,28844,916
45,67246,10346,49546,78647, 001
47,19447,37947,44047,33747,192
47,13447 06146,96846.93246,881
46 80746,85547 08447, 62147, 994
48, 388
48, 40448,815
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 2?440, 82741,393
41,893
41.91742,345
65 andover
6,474
6,7056,9287,1477,3637,582
7,8048,0278,2588,5088,764
9,0319,2889,5849,86710,147
10,49410,82811,18511,53811,921
12,39712,80313,20313,61714,076
14, 52514,93815,38815,80616,248
16,65917 01317,31117,56517,863
18 16218,46418 80419,13419,470
19,825
20,15620, 555
1 Data for 1960-70 shown here are based on the 1960 Census. See Table B-16 for total population for these years basedon the 1970 Census. Data bv age on the 1970 Census basis are now available only for 1970. See below.
2 Based on the 1970 Census/** "~ " ~
Note.—Data for Armed Forces overseas included beginning 1940. Includes Alaska and Hawaii beginning 1950.
Source: Department of Commerce, Bureau of the Census.
219
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—Noninstitutional population and the labor force, 1929-71
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 ofcivilianlaborforce
1929
1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965.1966.1967.1968.1969.
1970.1971..
1970: Jan..Feb...Mar..Apr..May..June..
July..Aug..Sept.Oct..Nov_.Dec.
Thousands of persons 14 years of age and over Percent
19301931193219331934
19351936193719381939
19401941194219431944
19451946 . ..1947
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
49,82050,42051,00051,59052,230
52,87053,44054,00054,61055,230
55,64055,91056,41055, 54054,630
53, 86057,52060,168
47,630
45,48042,40038,94038,76040,890
42,26044,41046,30044,22045,750
47,52050,35053,75054,47053,960
52,82055,25057,812
10,450
10,34010,29010,17010,0909,900
10,11010,0009,8209,6909,610
9,5409,1009,2509,0808,950
8,5808,3208,256
37,180
35,14032,11028,77028,67030,990
32,15034,41036,48034,53036,140
37,98041,25044,50045,39045,010
44,24046,93049, 557
1,550
4,3408,02012,06012,83011,340
10,6109,0307,700
10,3909,480
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
140,182142,596
139,09r
139,298139,497139,687130,884140,046
140,259140,46?140,67C140,886141,091141,308
60,94162,08062,903
63,85865,11765,73066,56066,993
68,07269,40969,72970,27570,921
72,14273,03173,44274, 57175,830
77,17878,893P0,79382,27284,239
85,90386,929
U, 10584,62585,00885,23184,96887,230
87,95587,24885,65686,25486,38616,165
1,1,1,
I3!3,3,3,
3,2,2,2,2,
2,2,2,j>2,
?t
3*,3,3.3,
3,2,
33,3333
333333
591459617
65010059?545350
049857800636552
514572828738739
723123446535506
188817
386342318271227180
154133109079039013
59,60,61,
62,62,62,63.63,
65,66,66,67,68,
350621286
208017138015643
023552929639369
69, 62870, 45970,71,73,
74,75,77,78,
614833091
455770347737
80,733
8284
808181818184
848482838383
715113
719283690960741050
801115547175347152
57,03958,34457,649
58,92059,96260,25461,18160,110
62,17163,80264,07163,03664,630
65,77865,74666,70267,76269,305
71,08872,89574,37275,92077,902
78,62779,120
77,31377,48977,^5778,4087P,35779,382
80,29179,89478,25678,91678,74178,515
7,7,7,
7,6,6,6,6,
6,6,5,5,
891629656
160726501261206
449283947586
5,565
5,4585,2004,4,4,
4,3,3,3.3,
3,3,
2,2,3,334
433332
944687523
361979P44817606
462387
915994171531725208
II*782525394226952
49,14850,71349,990
51,76053,23953,75354,92253,903
55,72457,51758,12357,45059,065
60,31860, 54661,75963,07664,782
66,72668,91570, 52772,10374,296
75,16575,732
74, 39<?74,49574,78674,87774,63275,174
76,17376,11274,73075, 52275, 51575,563
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502,8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,831
4,0884,993
3,4063,7943,7333,5523,3844,669
4,5104,2204,2924,2594,6074,637
58.959.459.6
59.960.460.460.260.0
60.461.060.660.460.2
60.260.259.759.659.6
59.760.160.660.761.1
61.361.0
60.560.860.961.060.762.3
62.762.160.961.261.261.0
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
4.95.9
4.24.74.64.34.15.6
5.35.05.25.15.55.6
See footnotes at end of table.
220
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TABLE B-22.—Noninstitutional population
Year or month
1971: JanFebMarApr.MayJune
JulyAugSeptOctNov.Dec
1970- JanFebMarAprMayJune. .
JulyAug.SeptOctNov . . . .Dec
1971: JanFebMarAprMayJune
JulyAugSept.Oct
• Nov. . _.Dec
•• - J ' > • ' • • •
Nonin-stitu-tionalpopu-lation
Totallaborforce
(includ-ing
ArmedForces)
ArmedForces
and the labor force, 1929-71—Continued
Civilian labor force
Total
I
Total
Imployment
Agri-cul-tural
Non-agri-cul-tural
Unem-ploy-ment
Thousands of persons 16 years of age and over
141,500141,670141,885142, 088142, 285142,482
142,685142, 886143,104143,321143,517143, 723
85,62885,65385, 59885, 78085,95487, 784
88,80888,45386, 88487,35287,71587, 541
85, 44585 52985, 97386, 04085,73185, 568
85, 95885, 90286 05486, 34586, 45686,498
86, 70586,31286, 38586,67086, 83686,217
86, 72887, 08887, 24087, 46787,81187, 883
2,9762,9502,9302,8822,8502,816
2,7972,7752,7492,7172,6962,658
82,65282,70382,66882, 89883,10484, 968
86,01185,67884,13584,63585,01984, 883
<
82, 05982 18782, 65582, 76982, 50482, 388
82, 80482, 76982, 94583, 26683,41783, 485
83, 72983, 36283, 45583,78883, 98683,401
83,93184 31384, 49184, 75085, 11585, 225
77, 23877,26277,49378, 20478, 70979, 478
80,68180,61879,29580, 06580, 20480,188
2,8772,8463,0423,5053,5983,920
3,9713,7643,4443,4703,2622,948
seasonally adjusted
78, 85378 75279, 01878,90878, 51478,412
78, 63178, 51478,44878,67878, 54878, 427
78,71878,47578, 44678,73278,83078, 600
79, 01479 19979, 45179,83280, 02080,098'
3,4253 4583,5243,5553, 5453,547
3,5063,4223,4383,3403,3793,395
3,4063,2853, 3873 5403,4123,301
3 3743 4073 3633,4163,4193,400
74, 36174,41574,45274,69975,11175,559
76,71076,85375,85176, 59576,94277, 240
75, 42875 29475, 49475, 35374, 96974, 865
75, 12575, 09275,01075 33875,16975,032
75 31275, 19075,05975 19275,41875, 299
75 64075 79276 08876,41676 60176, 698
5,4145,4425,1754,6944,3945,490
5,3305,0614,8404,5704,8154,695
3 2063 4353,6373,8613 9903,976
4 1734,2554,4974 5884 8695,058
5 0114 8875,0095 0565,1564,801
4 9175 1145 0404,9185 0955,127
Totallabor
force aspercentof non-institu-tionalpopu-lation
Unem-ploy-ment
as per-cent ofcivilianlaborforce
Percent
60.560.560.360.460.461.6
62.261.960.760.961.160.9
6.66.66.35.75.36.5
6.25.95.85.45.75.5
3 94 24 44 74 84 8
5 05 15.45 55 86.1
6 05 96 06 06 15.8
5 96 16 05.86 06.0f.q
Note.—Labor force data in Tables B-22 through B-25 are based on household interviews and relate to the calendarweek including the 12th of the month. For definitions of terms, area samples used, historical comparability of the data,comparability with other series, etc., see "Employment and Earnings."
"^"^Seasonally adjusted data in this table hayg_been revised and do not agree with those published by the Bureau of LaborStatistics beginning in February 1971. They are "suBject to correction when the annual official revision of the series ispublished. -
Source: Department of Labor, Bureau of Labor Statistics.
221451-688 0—72- -15
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—Civilian employment and unemployment, by sex and age, 1947—71
[Thousands of persons 16 years of age and over]
Year ormonth
1947.1948.1949.
19501951195219531954
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
Employment
Total
57,039 40,58,344 41,57,652 40,
58,920 4159,962 4160,254 4161,18160,110 41
62,17163,802 43;64,07163,036 42i64,630 43,
65,778 43,65,746 43,66,702 44,67,762 44,69,305 45,
Males
Total
5801780,684
42,431",620
42,62143,38043, 354""!, 423
1,466
1965 71,088 46,3401966 ..72,895 46,9191967 74,372 47,4791968 75,920 48,1141969 .77,902 48,818!
16-19years
2,218 38,7762,345 39,3822,124 38,803
20yearsandover
2,186 39, 3942,156 39,6262,106 39,5782,135 40,296 18J501,985 39,634
2,095 40,5262,164 4 1 , " "2,117 41,2,012 40,411
19,5504i; 216 20,422" 239 20,714
. 20,6132,198 41,267 21,164
2,360 41,543 21,2,314 41,342 22,12,362 41,815 22,!2,406 42,251
,874!,089>, 525
23,1052,587 42.886 23,831
2,918 43,422 24,7483,252 43,668 25,9763,186 44,293 26,8933,255 44, 859 27, 8073,430 45,388,29,084
Females
Total
16,04516,61816,723
17,34018,18218,570
18,490
1970 78,627 48,960 3,407 45,553 29,6671971 79,120 49, 245, 3, 470 45, 775 29, 875
I I I I
1970: Jan....Feb...Mar...Apr...May...June..
July...Aug...Sept...Oct....Nov...Dec...
1971: Jan....Feb...Mar...Apr...May...June..
July...Aug...Sept._Oct....Nov...Dec...
78, 853 49,78, 752 49,79, 018 49,78,908 49,78, 51478, 412
78,63178,514
16-19years
1,6911,683 14,9371,588
,517,611,612 16,958,584
,570
,769,793,833,849
2,497
20yearsandover
14,354
15,137
15,82416,570
17,164,490 17,000
, 548 18, 002,654 18,767,663 19,052
19,043,640 19,524
20,10520,29620,69321,257
,929 21,903
2,118 22,6302,469 23,510
24,3972, 525 25,2812,686j26,397
2,734;26,9332, 725 27,149
Unemployment
Total
2,3112,2783,637
3,2882,0551,8831,8363,532
2,8522,7502,8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,832
4,0884,993
Males
Total
1,6921,5612,572
2,2391,2211,1851,2022,344
1,8541,7111,8413,0982,420
2,4862,9972,4232,4722,205
1,9141,5511,5081,4191,403
2,2352,776
16-19years
270255352
318191205184310
274269299416398
425479407500487
479432448427441
599691
20yearsandover
1,4221,3052,219
1,9221,029
9801,0192,035
1,5801,4421,5412,6812,022
2,0602,5182,0161,9711,718
1,4351,1201,060
993963
1,6362,086
Females
Total
619717
1,065
1,049834698632
1,188
9981,0411,0181,5041,320
1,3661,7171,4881,5981,581
1,4521,3261,4681,3971,428
1,8532,217
16-19years
Seasonally adjusted
,1461,0681,2791,069
49, 03148, 845
48, 85148, 761
78:448 48,91278,678 48,90978,548 48,93278,427 48, 845
78,718 48,78, 475 48,78, 44678, 732 49,78,830 49,78,600 49,
79, 014 49,:79,199 49,;79,451 -79,832 49i I80, 020 49,:
:, 8901,734
48, 809• 1 , 1 1 01,1761,068
1,3371,318
49, 4301,6811,726
80, 098 49,669
3, 496 45,65C3, 482 45, 58(3, 565 45, 7143, 420 45,64S3,420 45,6113, 296 45, 549
3,3513,3013, 380 45;
45, 50045, 460- 5 3 2
29, 78029, 75329,536
3, 359 45, 550 29, 7693, 436 45,496 29,6163,477 45, 368 29, 582
29,70729,68429, 73929, 83929,48329, 567
3,454 45,3, 459 45,3, 398 45, 4113,492 4 5 , " "3,45145,3,306 45, 762 29, 532
3,458 453, 425 45, 893 29,3,461 45,9693, 557 46,124 3011513,660 46, 066 30, 2943, 589 46, 080 30,429
5,436 29, 8285, 275 29, 7415, 411 29,6375,618 29,6225, 725 29,654
879 29,677"' 29,881
30, 021
2,7682,7972,7612,7682,86C2,689
2,7232,7092,763
26,93926, 88726,97827, 07126,62326, 878
27, 05727,04426, 773
2, 728 27, 0412,646 26,970
2,751
2, 713 26,2, 737 27,2, 702 27,
2,630 26,952
2, 730 27,0982,739 27, 0022, 730 26,907
26, 8712,803 26, 8512,604 26,928
,964,144, 319
2,680 27,4712, 723 27, 5712, 837 27, 592
3,2063,4353,6373,8613,9903,976
4,1734,2554,4974,5884,8695,058
5,0114,8875,0095,0565,1564,801
4,9175,1145,0404,9185,0955,127
1,6671,8331,8962,0952,1752,228
2,3192,3722,5182,5822,6832,831
2,7792,7022,7312,7812,8832,692
2,7212,8742,8202,7572,8442,841
491518517585593602
572609667666669717
717682685692739634
651710676702710752
1,176" 315
379510582
,747,763,851
1,9162,0142,114
2,0622,0202,0462,0892,1442,058
2,0702,1642,1442,0552,1342,089
1,5391,6021,7411,7661,8151,748
1,8541,8831,9792,0062,1862,227
2,2322,1852,2782,2752,2732,109
2,1962,2402,2202,1612,2512,286
144152223
195145140123191
176209197262256
286349313383386
395404391412412
506567
20yearsandover
475564841
854689559510997
823832821
1,2421,063
1,3681,1751,2161,195
1,056921
1,078985
1,016
1,3471,650
495458481524452465
450516543554596589
597577619591579506
566558579550568594
044144260242
,363,283
,404,367,436,452,590,638
,635,608,659,684,694,603
,630,682,641
1,6111,6831,692
Note.—See Note, Table B-22.Seasonally adjusted data in this table have been revised and do not agree with those published by the Bureau of Labor
Statistics beginning in February 1971. They are subject to correction when the annual official revision of the series ispublished.
Source: Department of Labor, Bureau of Labor Statistics.
222
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TABLE B-24.—Selected unemployment rates, 1948-71
[Percent]
Year or month
19481949.
1950.19511952.1953.1954
19551956195719581959.
1960.1961.1962.19631964.
19651966.196719681969.
19701971
1970: Jan..Feb.Mar_Apr_May.June
July.Aug.Sept.Oct..NovDec.
1971: Jan..Feb.Mar.Apr.May.June
July.Aug.Sept.Oct..NovDec.
Allwork-
ers
3.85.9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.75.55.75.2
4.53.83.83.63.5
4.95.9
By sex and age
Bothsexes16-19years
9.213.4
12.28.28.57.6
12.6
11.011.111.615.914.6
14.716.814.717.216.2
14.812.812.812.712.2
15.216.9
Men20
yearsandover
3.25.4
4.72.52.42.54.9
3.83.43.66.24.7
4.75.74.64.53.9
3.22.52.32.22.1
3.54.4
Wom-en 20yearsandover
3.65.3
5.14.03.22.95.5
4.44.24.16.15.2
5.16.35.45.45.2
4.53.84.23.83.7
4.85.7
By color
White
3.55.6
4.93.12,82.75.0
3.93.63.86.14.8
4.96.04.95.04.6
4.13.43.43.23.1
4.55.4
Negroand
otherraces
5.98.9
9.05.35.44.59.9
8.78.37.9
12.610.7
10.212.410.910.89.6
8.17.37.46.76.4
8.29.9
By selected groups
Expe-riencedwageand
salaryworkers
4.36.8
6.03.73.33.26.2
4.84.44.67.25.7
5.76.85.65.55.0
4.33.53.63.43.3
4.85.7
Mar-ried
men*
3.5
4.61.51.41.74.0
2.82.62.85.13.6
3.74.63.63.42.8
2.41.91.81.61.5
2.63.2
Full-time
work-ers 2
5.4
5.02.62.5
5.2
3.83.74.07.2
6.7
5.44.8
4.23.43.53.13.1
4.55.5
Blue-collarwork-ers 3
4.28.0
7.23.93.63.47.2
5.85.16.2
10.27.6
7.89.27.47.36.3
5.34.24.44.13.9
6.27.4
Laborforce
time lost*
Seasonally adjusted
3.94.24.44.74.84.8
5.05.15.45.55.86.1
6.05.96.06.06.15.8
5.96.16.05.86.06.0
13.613.513.615.214.315.1
14.415.816.516.717.217.6
17.516.917.617.017.416.2
16.517.116.916.716.717.3
2.52.82.93.23.43.4
3.73.73.94.04.24.5
4.34.34.34.44.54.3
4.34.54.54.34.44.3
3.74.14.54.44.94.6
4.94.85.15.15.65.7
5.75.65.85.95.95.6
5.75.85.75.55.85.8
3.63.84.04.24.54.3
4.64.85.05.25.55.6
5.65.35.65.65.75.2
5.35.65.45.35.75.4
6.57.17.28.37.98.4
8.38.48.89.39.09.5
9.59.69.4
10.010.59.4
10.19.8
10.510.79.3
10.3
3.73.94.24.34.84.6
4.95.05.25.45.76.1
5.85.65.85.75.85.4
5.65.75.55.45.85.9
1.92.02.22.32.52.5
2.72.82.93.03.23.4
3.33.23.23.13.33.1
3.13.23.33.03.43.3
3.43.74.04.24.64.4
4.64.75.05.15.65.7
5.55.45.55.55.85.3
5.35.55.75.45.85.8
4.65.05.25.66.06.3
6.56.97.37.37.47.8
7.67.47.47.47.57.0
7.17.68.07.27.57.5
5.15.38.16.6
6.78.06.76.45.8
5.04.24.24.03.9
5.46.4
4.34.54.85.05.54.9
5.45.55.96.16.46.4
6.46.36.56.46.85.6
6.36.56.36.56.56.4
* Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March.* 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 B-22.Seasonally adjusted data in the first four columns of this table have been revised and do not agree with those published
by the Bureau of Labor Statistics beginning in February 1971. They are subject to correction when the annual officialrevision of the series is published.
Source: Department of Labor, Bureau of Labor Statistics.
223
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TABLE B-25.—Unemployment by duration, 1947-71
Year or monthTotal 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
1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
1965.1966.1967.1968.1969
1970.1971.
1970: Jan..Feb..Mar..Apr..May..June.
July..Aug..Sept.Oct...Nov..Dec.
1971: Jan..Feb..Mar..Apr..May.June.
July.Aug.Sept.Oct..Nov .Dec.
2,3112,2783,637
3,288?,0551,8831,8363,532
2,8522,7502,8594,6023,740
3,852< 7143,9114,0703,786
3,3662,8752,9752,8172,832
4.0884,993
1.2101,3001,756
1,4501,1771,1351,1421,605
1,3351,4121,408,753,585
,719,806,663,751,697
,628,573,634,594,629
2.1372•,234
704669
1,194
1,055574516482
1,116
815805891
1,3961,114
1,1761,3761,1341,2311,117
983779893810827
1,2891,578
234193428
425166148132495
366301321785469
503728534535491
404287271256242
427665
164116256
3571378478317
336232239667571
454804585553482
351239177156133
235517
3,2223,4173,6313,8744,0203,914
4,1374,2624,4964,6094,9235,146
5,0334,8475,0005,0855,2174,689
4,8885,1155,0734,9385,1505,127
Seasonally adjusted 1
1,8071,9281,9642,2202,1452,001
2,0802,2172,2712,3732,3332,456
2,3222,1542,1162,2762,2762,040
2,1122,3722,3442,1942,2922,439
9291,0181,1411,0951,2051,276
1,3221,3401,470,4901,7581,612
1,6241,595,6491,5601,5191,574
1,532,5351,5891,5491,6591,535
286308357369346427
458475507496555750
666614651641622609
747752672641726750
139163183195260234
236252281258325334
413455456430580564
564553567590567509
1 Because of independent seasonal adjustment of the various series, detail will not add to totals.
Note.—See Note, Table B-22.Seasonally adjusted data in this table are as published by the Bureau of Labor Statistics beginning February 1971 and
therefore do not agree with data shown in Tables B-22 through B-24.
Source: Department of Labor, Bureau of Labor Statistics.
224
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TABLE B-26.— Unemployment insurance programs, selected data, 1940-71
Year or month
All programs
Cov-eredem-ploy-
ment i
Insuredunem-ploy-ment
(weeklyaver-
age) 23
Totalbenefits
paid(mil-lions
of dol-lars) 2 4
State programs
nsuredunem-ploy-
ment3
Initialclaims
Ex-haus-tions5
Insured unem-ployment as per-cent of covered
employment
Unad-justed
Season-ally ad-justed
Benefits paid
Total(mil-
lions ofdol-
lars)*
Aver-age
weeklycheck(dol-lars) •
1940194119421943194419451946194719481949195019511952..195319541955195619571958195919601961196219631964.19651966..19671968..196919701971 p.......1970:Jan..
Feb..Mar..Apr..
1971
Apr.May....June...July....AugSept...Oct ...Nov....Dec...
: Jan pFeb v..Mar p..Apr p.-May p..June p.July p.-Aug p.-Sept P-.Oct p...Nov p..Dec p..
Thousands Weekly average, thousands Percent
24,29128,13630,81932,41931,71430,08731,85633,87634,64633, 09834,30836,33437,00638, 07236,62240,01842,75143,43644,41145,72846,33446,26647,77648,43449,63751,58054,73956,34257, 97659, 99959, 528
-59, 035P 5 8 , 9 1 8
59, 228, 503, 692, 459, 209, 238
*>60, 072'59, 043'58,715
8 59,219
1,331842661149111720
2,8041,7931,4462,4741,6051,0001,0691,0672,0511,3991,3231,5713,2692,0992,0712,9941,946
' 1,9731,7531,4501,1291,2701,1871,1772,0702,3131,9581,9881,9171,8851,7781,6961,8971,8551,7461,8892,2332,6323,1943,2163,0912,7562,4432,3322,4312,3492,1742,1292,3122,664
534.7358.8350.4
80.567.2
574.92,878. 51,785.51,328.72,269.81,467.6
862.91,043.51,050.62,291.81,560.21,540.61,913.04,290.62, 854.33, 022.84,358.13,145.13,025.92,749.22,360.41,890.92,220.02,191.02, 298.6
170.1963.3321.4333.2357.2345.6315.5315.4341.5341.6328.3332.9372.1501.4568.1599.3683.6586.0470.8494.8452.1468.9425.7412.4420.6469.4
1,282814649147105589
1,295997980
1,9731,513
9691,044
9901,8701,2651,2151,4462,5261,6841,9082,2901,7831,8061,6051,3281,0611,2051,1111,1011,8052,1761,8471,8741,7981,7701,6671,5831,7611,7101,6071,7242,0172,3692,7992,7512,5772,2832,0011,8931,9931,9121,7391,7161,8792,222
2141641223629
116189187200340236208215218304226227270369111331350302
7 298268232203226201200296301355290245298246248333248244278334399427321275257238250342282236252298358
5.63.02.2
.5
.42.14.33.13.06.24.62.82.92.85.23.53.23.66.44.44.85.64.44.33.83.02.32.52.22.13.44.03.63.63.53.43.23.03.33.23.03.23.74.4
5.25.24.84.33.83.63.83.63.33.23.54.2
2.52.62.83.13.63.73.63.74.14.44.54.03.73.83.94.04.24.44.04.24.54.54.23.8
518.7344.3344.179.662.4
445.91,094.9
775.1789.9
1,736.01,373.1
840.4998.2962.2
2,026.91,350.31,380.71,733.93,512.72,279.02,726.73,422. 72,675.42,774. 72,522.12,166. 01,771.32,092.32,031.62,127.93, 848. 54,021.7
300.1312.5333.0321.5293.6292.3314.7313.1299.9305.1341.9462.0527.2557.9635.4541.9433.0452.7400.6408.9372.2390.7410.8437.8
10.5611.0612.6613.8415.9018.7718.5017.8319.0320.4820.7621.0922.7923.5824.9325.0427.0228.1730.5830.4132.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3455.4948.5149.1148.9349.2049.4649.6849.5750.6350.6451.4552.2452.4352.8353.1253.0052.7152.3252.0955.2356.0856.2556.4256.9057.10
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 (unamploymant compansation 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 banafits for Juna 1958 through June 1962 and for 1970-71.
3 Covered workers who have completed at least 1 week of unemployment.4 Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual data are net
amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.8 Preliminary; December 1970 is latest month for which data are available for all programs combined. Workers-covered
by State programs account for about 88 percent of the total.
Source: Department of Labor, Manpower Administration.
225
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TABLE B-27.—Wage and salary workers in nonagricultural establishments, 1929-71
[All employees; thousands of persons]
Year ormonth
Totalwageand
salarywork-
ers
Manufacturing
TotalDura-
blegoods
Non-dura-ble
goods
Min-ing
Con-tractcon-
struc-tion
Trans-porta-tionandpub-lic
utili-ties
Whole-saleand
retailtrade
Fi-nance,insur-ance,andreal
estate
Serv-ices
Government
Fed-eral
Stateandlocal
1929
19301931193219331934
19351936193719381939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966.196719681969
19701971 v
31,339
29,42426,64923,62823,71125,953
27,05329,08231,02629,20930,618
32,37636,55440,12542,45241,883
40,39441,67443,88144,89143,778
45,22247,84948,82550,23249,022
50,67552,40852,89451,36353,313
54,23454,04255, 59656,70258,331
60,81563,95565,85767,91570, 284
70, 61670, 689
10,702
9,5628,1706,9317,3978,501
9,0699,82710,7949,44010,278
10,98513,19215,28017,60217,328
15,52414,70315,54515,58214,441
15,24116,39316,63217,54916,314
16,88217,24317,17415,94516,675
16,79616,32616,85316,99517,274
18,06219,21419,44719, 78120,167
19, 36918, 608
4,715
5,3636,9688,82311,08410,856
9,0747,7428,3858,3267,489
8,0949,0899,34910,1109,129
9,5419,8349,8568,8309,373
9,4599,0709,4809,6169,816
10,40611,28411,43911,62611,895
11,19810, 589
5,564
5,6226,2256,4586,5186,472
6,4506,9627,1597,2566,953
7,1477,3047,2847,4387,185
7,3407,4097,3197,1167,303
7,3367,2567,3737,3807,458
7,6567,9308,0088,1558,272
8,1718,019
1,087
1,009873731744883
897946
1,015891854
925957992925892
836862955994930
901929898866791
792822828751732
712672650635634
632627613606619
622602
1,497
1,3721,214970809862
9121,1451,1121,0551,150
1,2941,7902,1701,5671,094
1,1321,6611,9822,1692,165
2,3332,6032,6342,6232,612
2,8022,9992,9232,7782,960
2,8852,8162,9022,9633,050
3,1863,2753,2083,2853, 435
3,3453,259
3,916
3,6853,2542,8162,6722,750
2,7862,9733,1342,8632,936
3,0383,2743,4603,6473,829
3,9064,0614,1664,1894,001
4,0344,2264,2484,2904,084
4,1414,2444,2413,9764,011
4,0043,9033,9063,9033,951
4,0364,1514,2614,3104,429
4,5044,481
6,123
5,7975,2844,6834,7555,281
5,4315,8096,2656,1796,426
6,7507,2107,1186,9827,058
7,3148,3768,9559,2729,264
9,3869,74210,00410,24710,235
10,53510,85810,88610,75011,127
11,39111,33711,56611,77812,160
12,71613,24513,60614,08414,639
14, 92215,175
1,509
1,4751,4071,3411,2951,319
1,3351,3881,4321,4251,462
1,5021,5491,5381,5031,476
1,4971,6971,7541,8291,857
1,9191,9912,0692,1462,234
2,3352,4292,4772,5192,594
2,6692,7312,8002,8772,957
3,0233,1003,2253,3823,564
3,6903,799
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[0,099L0,62311, 229
(1,63011,912
533
526560559565652
753826833829905
9961,3402,2132,9052,928
2,8082,2541,8921,8631,908
1,9282,3022,4202,3052,188
2,1872,2092,2172,1912,233
2,2702,2792,3402,3582,348
2,3782,5642,7192,7372,758
2,7052,665
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
7,6968,2278,6799,1099,444
9,83010,188
See footnotes at end of table.
226
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TABLE B-27.— Wage and salary workers in nonagr{cultural establishments,1929-71—Continued
[All employees; thousands of persons]
Year ormonth
1969: J a n . . .F e b . - .Mar__A p r . . .May__June. .
J u l y . .Aug__Sept . .Oct. .Nov .Dec . . .
1970: Jan.F e b . . .M a r . .A p r . . .M a y . .June. .
J u l y . .A u g . . .Sept . .OctNovDec. . .
1971:Jan__Feb. ._M a r . . .A p r . . .May....June . .
July. . .Aug. . .S e p t . .Oct-._.Nov pDec p .
Totalwageand
salarywork-
ers
Manufacturing
TotalDura-
blegoods
Non-dura-
blegoods
Min-
Con-tractcon-
struc-tion
Trans-porta-tionandpub-
licutili-ties
Whole-saleand
retailtrade
Fi-nance,insur-ance,andreal
estate
Serv-ices
Government
Fed-eral
Seasonally adjusted
69,28769, 52969, 76669, 94170,17170,368
70,40670,51270,61670,82770, 79770,912
70, 87370,98871,14771,06370, 79670,634
70,60570,44570,48070, 08269,98570,313
70,45470, 39170,48070, 59970, 76970, 657
70, 53170,52970, 85370, 84870, 98171,104
Stateandlocal
20,00820,08620,15320,17120,19620,254
20,25520,25020,23620,24420, 08720,068
19,98519,91719,90319,77319,56619,458
19,39419,25819,23518, 66918,51718, 796
18,74718,68418, 60918,63918, 70218,608
18, 53318, 45718,61618, 56018,60318, 549
11,82011,84111,88011,89911,92111,963
11,96211,95811,96011,97711,79411,777
11,68111,62511,63311,52911,39611,287
11,22211,13211,11610,59810,44910, 738
10,69710,64210,57110, 59810,65110, 598
10, 55210,48510, 59710, 56110,57110, 542
8,1888,2458,2738,2728,2758,291
8,2938,2928,2768,2678,2938,291
8,3048,2928,2708,2448,1708,171
8,1728,1268,1198,0718,0688,058
8,0508,0428,0388,0418,0518,010
7,9817,9728,0197,9998,0328,007
617619615615615614
619621624623623626
625625624622620620
619620620621624623
625622622623622619
597609616521521622
3,4103,4063,4263,4163,4443,451
3,4263,4093,4423,4473,4623,474
3,4113,4533,4733,4053,3493,333
3,3073,3023,2743,2843,2943,302
3,2713,1983,2643,2823,2753,255
3,2283,2193,2503,2903,3183,258
4,3584,3644,3844,4134,4244,442
4,4524,4484,4574,4604,4654,474
4,5064,4964,5024,4764,4934,517
4,5424,5234,5184,5174,5064,450
4,5074,5264,5204,5054,5184,500
4,4764,4284,4604,4424,4354,459
14,38014,43314,47314, 53314,59414, 657
14,68014,71714, 73314,78014,82614,844
14,85714,91914,94114,95014,92814,910
14,91614,90714,93114,94614,90214,952
15,03915,05915,07415,10715,14815,135
15,15815,22315,27315,27015,27615,330
3,4803,4963,5103,5293,5443,563
3,5793,5933,5993,6083,6233,637
3,6523,6593,6723,6803,6893,689
3,6903,6833,6983, 70S3,7213,731
3,7463,7493,7583,7693,7883,807
3,8063,8043,8213,8343,8523,847
10, 97511,03511,10111,14011,18011,203
11,22911,27811,32911,39011,41511,456
11,48811,52611,55911,58411,60511,621
11,62411,63211,66611,72211,75011,776
11,80011,80911,84111,84311,85811,895
11,92111,94611,96211,99612, 02012, 046
2,7542,7532,7512,7502,7452,745
2,7342,7332,7392,7292,7192,716
2,7062,7072,7712,8432,7732,676
2,6552,6352,6572,6592,6642,661
2,6612,6622,6622,6672,6672,640
2,6432,6502,6742,6752,6692,666
9,3059,3379,3539,3749,4299,439
9,4329,4639,4579,5469,5779,617
9,6439,6869,7029,7309,7739,810
9,8589,8859,8819,95810,00710,022
10, 05810, 08210,13010,16410,19110,198
10,16910,19310,18110,26010,28710,327
Note.—Data in Tables B-27 through B-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 B-22 through B-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.
227
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TABLE B-28.—Average
Year ormonth
1929
1930193119321933193419351936.193719381939
194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966 - . - .1967 . . . .
1969 . .19701971 v
1970:Jan.. .Feb.. .Mar .Apr...May..June..
July. _Aug. .Sept..Oct_-Nov_.Dec...
1971: J a n - .Feb. . .Mar..Apr...May..June..
July. .Aug_.Sept. .Oct.. .Nov *•_Dec »_
Totalnon-agri-
culturalprivate
40.340.039.4
39.839.939.939.639.139.639.338.838.539.0
38.638.638.738.838.738.838.638.037.837.737.137.0
weekly hours of work
Manufacturing
Total
44.2
42.140.538.338.134.636.639.238.635.637.7
38.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240 3
39.739.840.440 540.741.241.340.640.740.639.839.9
Durablegoods
32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.340.941.141.442.042.141.241.441.340.340.4
Non-durablegoods
41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839 739.239.339.639.639.740.140.239.739.839.739.139.3
Mining
40.839.436.337.938.438.638.838.640.740.840.138.940 540.440.540.941.641.942.342.742.642.643.042.742.5
in private nonagricultural industries, 1929-71
Con-tractcon-
struc-tion
38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.237.437.637.737.437.937.437.2
Trans-porta-tionand
publicutilities
41.141.341.240.540.640.740.540.2
Whole-sale
trade
41.642.943.142.341.841.341.141.442.343.042.841.641.141.040.840.740.840.740.640.540.740.540.340.240.640.540.540.640.640.640.840.740.340.140.240.039.8
Retailtrade
43.443.242.841.840.941.040.941.3
M0.340.240.440.440.439.839.139.239.038.638.138.138.238.037.637.437.337.036.635.935.334.734.233.833.7
Finance,insur-ance,andreal
estate
37.937.937.837.737.737.837.737.637.636.936.737.137 337.236.937.337.537.337.237.337.037.037.136.837.0
Serv-ices
36.035.935.535.134 734.734.434.2
Seasonally adjusted
37.437.437.337.237.137.2
37.237.136.736.936.937.0
36.937.037.037.036.937.1
36.936.936.737.037.237.2
40.240.240.139.939.839.9
40.139.839.339.439.639.5
39.839.839.839.840.040.0
40.039.839.539.840.140.3
40.840.740.640.440.340.540.640.239.839.940.040.040.340.340.440.340.540.640.440.039.740.340.640.8
39.539.539.439.339.239.139.239.138.638.939.039.039.239.139.139.239.439.339.339.339.139.339.539.6
42.843.243.043.042.642.542.442.342.142.742.742.842.942.642.842.242.442.342.242.041.942.542.543.6
37.338.138.038.137.937.537.437.335.037.037.237.737.636.837.837.136.837.237.137.135.737.639.136.7
40.640.740.740.340.440.740.740.440.540.240.340.339.940.640.640.640.040.738.040.540.640.340.440.6
40.340.240.140.140.140.040.039.939.739.939.839.839.739.739.739.639.839.939.639.739.739.840.040.1
33.833.833.833.633.833.833.833.933.733.833.733.733.633.633.533.733.733.733.833.633.633.833.833.9
36.937.037.036.936.836.736.836.936.736.736.736.736.736.836.936.937.037.037.137.337.036.936.937.1
34.534.534.434.434.434.334.534.634.434.334.334.334.234.234.034.134.134.134.434.334.234.234.134.1
» Beginning 1947, data include eating and drinking places.Note.—Hours and earnings data in Tables B-28 through B-33 relate to production workers in manufacturing and mining,
to construction workers in contract construction, and generally, to nonsupervisory employees in other industries. SeeTable B-31 for unadjusted weekly hours in manufacturing. See also Note, Table B-27.
Source: Department of Labor, Bureau of Labor Statistics.
228
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-29.—Average gross hourly earnings in private nonagricultural industries and in agriculture,1929-71
Year or month
19291930193119321933193419351936193719381939 -. .194019411942194319441945194619471948 . . . .19491950 . .195119521953 .195419551956 . .195719581959196019611962196319641965196619671968196919701971 v1970: Jan
FebMarAprMayJuneJuly_____AugSeptOctNovDec
1971: JanFebMarAprMayJuneJulyAugSeptOctNov pDec p . . .
Totalnon-agri-cul-tural
private
$1,1311.2251.2751.3351 451 521 611.651 711 801.891.952.022.092.142.222 282.362.452.562.682.853.043.2?3.423.133.153.163.173.193.213.233.253.293.283.293.303.333.353.363.383.413.423.433.453.493.493.483.50
Manufacturing
Total
$0.560546
.509
.441
.437
.526
.544.550.617.620.627.655.726.851.957
1.0111.0161.0751.2171.3281 3781.4401 561.651.741.781.861.952.052.112.192.262.322.392.462.532.612.722.833.013.193.363.573.293.293.313.323.343.363.373.373.423.373.393.473.503.513.523.543.553.573.573.563.603.603.603.69
Dur-able
goods
$0,492.467.550571
.580
.667
.679
.691716
.799
.9371.0481.1051.0991.1441.2781.3951 4531.5191 651.751.861.901.992.082.192.262.362.432.492.562.632.712.792.903.003.193.383.563.803.493.483.513.513.543.573.573.583.623.563.573.683.723.743.753.763.783.803.793.793.833.823.833.94
Non-dur-able?oods
$0,412.419.505
520.519.566.572.571590
.627
.709
.787
.844
.886
.9951.1451.2501 2951.347I 441.51.58.6267
L. 77.85.91.98
K 052.112.172 222.292.362.452.572.742.913 083.263.013.013.023.043.053.063.093.083.143.133.153.173.193.203.213.233.243.263.293.273.313.293.293.35
Mining
$1 4691.6641 7171.7721 932.012.142.142 202.332.462.472.562.612.642.702.752.812.923.053.193.353.613 844.043.763.773.793.793.803.823.823.843.893.923.973.963.984.004.014.044.044.044 054.104.153.923.914.29
Con-tractcon-
struc-tion
$1 5411.7131 7921.8632 022.132.282.392 452.572.712.822.933.033.203.313.413.553.703.894.114.414.79S.?55.705.095.085.085.115.125.155.225.325.385.445.465.465.535.565.545.555.655.635.685.755.865.905.895.91
Trans-porta-tionand
publicutili-ties
$2.883.033.113.243.423.643.8S4.203.733.753.743.753.803.843.873.903.943.943.963.994.044.084.074.104.134.154.234.254.334.314.324.37
V/hole-saletrade
$0,610.628.658.674.688.711.763.828.898.948.990107
,??03083fiO4?75?6170
L.768394
2.022.092.182.242.312.372.452.522.612.732.883.053.233 443.673.353.383.403.393.413.423.423.453.483.493.523.523.573.593.593.623.673.663.673.703.723.723.733.77
Retailtrade
$0.484.494.518.559.606.653.699.797
Fi-nance,insur-ance,andreal
estate
2 . 8 3 8 $1,140.901 1.200.951.983
1.061.091.161.201.251.301.371.421.471.521.561.631.681.751.821.912.012.162.302.442.572.382.402.412.422.432.432.442.452.482.482.492.472.522.542.552.562.572.582.582.572.602.602.602.60
1 2601.3401.45
SISS
.657078
.84
.89
.95> n?2.092.172.252.302.392.472.582.752.933.083.283.023.053.053.043.053.053.073.083.103.133.153.153.193.243.243.263.303.283.293.303.303.313.313.33
Serv-ices
$1.942.052.172.292.432.612.812.992.712.742.752.762.772.782.802.822.882.882.902.912.932.952.952.962.982.972.982.993.043.033.043.04
Agri-cul-
ture^
$0,241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.818.834.856.880.904.951
1.031.121.211.331.421.481.50
1.29
1.38
1.46
1.58
1.36
1.44
1.54
i Weighted average of all farm wage rates on a per hour basis.1 Beginning 1947, data include eating and drinking places.
Note-See Note, Tables B-27 and B-28.
Sources: Department of Labor (Bureau of Labor Statistics) and Department of Agriculture.
229
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B—30.—Average gross weekly earnings in private nonagricultural industries* 1929-71
Year ormonth
Totalnon-
agricul-tural
private
Manufacturing
Total Durablegoods
Non-durablegoods
MiningContract
con-struc-tion
Trans-porta-
tion andpublicutili-ties
Whole-sale
tradeRetailtrade
Fi-nance,insur-ance,
and realestate
Serv-ices
1929
1930..19311932 .193319341935 .1936193719381939
194019411942194319441945 . .19461947 -. ..19481949
1950195119521953 . .1954 . ....19551956195719581959
1960196119621963196419651966196719681969
19701971 v
$45 5849.0050.24
53.1357 8660 6563 7664.5267.7270 7473.3375 0878.78
80 6782.6085.9188 4691.3395 0698.82101. 84107. 73114.61
119.46126.54
1970: JanFeb_.. .Mar_...Apr_.. .May_—June__.
JulyAugSept. . . .Oct . . . . .Nov . . . .D e c . . .
1971: J a n . . . .F e b . . . .M a r . . .A p r . . . .May . . . .J u n e . . .
Ju l y . . . .A u g . . . .Sept . . . .OctNov *>_Dec p.
116.12116.55117.24116.97118.03120. 05
121.45122.20121.73121.03121.07122. 43
121.88122.61123.65124.05125. 49127. 57
127.94129. 03129.13129.13129.11130. 55
$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
89.7292.3496.5699.63102.97107.53112.34114.90122. 51129. 51
133. 73142.44
131.60130.94132.40131.47132.93134.74
134.46134.13135.43133.45134.58138.45
138.60138.29139.74139.83142. 00143.51
142.09141.69143.28144.00144.72150.18
$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
143.47153. 52
141.69140.24142. 51140.75142.66145.30
143.87143.92145.16142.76143.16149.04
149.17149.23151.50150.40153.09155.04
151.98151.60153.20154.71155. 88162.72
$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
120.43128.12
117.99117.69118.38118.56118.95119.95
121.44121.04122.15122.07123.17124.58
124.09123.84124.87125.65127. 01128. 44
129.63129.17130.75129.63130.28133.67
$59.9465.5662.33
67.1674.1177.5983.0382.6089.5495.0698.6596.08
103.68
105.44106.92110.43114.40117.74123. 52130.24135. 89142.71155.23
163.97171.70
159.05160.23160.32163.35161.88163. 50
163.50163.58164.55168.56169. 52170.28
168. 75167.60168. 82170.89171.30172.10
172.53173.43174.72167.78166.18187.90
$26.7525.1925.44
$58.8765.2767.56
69.6876.9682.8686.4188.9190.9096.38
100.27103.78108.41
113.04118.08122. 47127.19132.06138.38146. 26154.95164.93181.54
196.35212.04
181.71186.94189.48193.67195.07197. 25
200.45204.82194.76204. 54197.65204.20
199.08197.38205. 53205. 35209.05213.94
216.41220. 23216.23225.38223.82215.12
$118.37125.14128.13131.22138.85148.15
155.93168.84
150.69151.88150.72149.63152.76156.67
159.06158.34160.36159.18160. 38161.20
160.39164.83163.61164. 82164.37169.32
162. 43172.98176.66174. 56175.39177.86
25.3826.9628.3628.5128.76
29.3631.3634.2837.9940.7642.3746.0550.1453.6355.49
58.0862.0265.5369.0271.2874.4878.5781.4184.0288.51
90.7293.5696.2299.47102.31106.49111.11116.06122.31129.85
137.60146.07
134.67135.20136.00135.26136.06137.14
137.83138.35138.16139.25139.74141.15
141.37141.45142.16142.63145.33146. 40
146.43147.63147.68148.06148.83152.31
$21. 01
21.3422.1723.3724.7926.7728.5932.92
i 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
82.4786.61
79.4979.9280.4980.3481.1682.86
84.9185.7583.8283.0883.1783.73
83.4184.0784.4185.2585.5887.72
89.7889.1887.6287.1087.1088.66
$43.2145.4847.63
50.5254.6757.0859.5762.0463.9265.6867.5370.1272.74
75.1477.1280.9484.3885.7988.9192.1395.46
101.75108. 70
113.34121.36
111.44112.85112.85112.18111.94111.94
112.98113.65113.46115.18115.92115.61
117.07119.23119.56120.29121.77121.36
122.06123.09121.77122.47122.47123. 54
$69. 8473.6077.0480.3884.3290.57
96.66102.26
92.9593.9894.6094.6794.7395.63
97.7298.7098.7898.5099.1899.81
99.62100.30100.30100.64101. 02101.57
103.70103. 75103.66103.32103.36103.66
* Beginning 1947, data include eating and drinking places.
Note.—See Note, Tables B-27 and B-28.
Source: Department of Labor, Bureau of Labor Statistics.
230
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-31 ,—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-71
Year or month
1939.
19401941.1942.1943.1944.1945.1946.19471948.1949.
1950.1951..19521953.1954.19551956:1957.19581959.
19601961.1962.1963.1964..1965.1966.1967..19681969.
1970.1971 p
1970: Jan..Feb..Mar-Apr..May.June.
July..Aug..Sept.Oct..Nov..Dec.
1971: Jan..Feb..Mar..Apr -May..June.
July..Aug.-Sept.Oct...Nov pDec p.
All manufacturing industries
Averageweeklyhours
Gross
37.7
Ex-clud-ing
over-time
$0.627
Average hourlyearnings
Gross
Ex-clud-ing
over-time
Adjustedhourly
earnings,(1967
100)i
24.5
Durable goods manufac-turing industries
Averageweeklyhours
Gross
37.9
Ex-clud-ing
over-time
$0,691
Averagehourly
earnings
Gross
Ex-clud-ing
over-time
Nondurable goods manu-facturing industries
Averageweeklyhours
Gross
37.4
37.0
Ex-clud-
over-time
$0. 571
Averagehourly
earnings
Gross
Ex-clud-ing
over-time
38.140.643.1
.655
. 726 $0.691
.851, .793
.957 .881
39.2 .716 .590
45.045.243.540.340.440.039.1
1.0111.0161.075
.9333.9491.035
2 25.42 23.52 31.0
40.540.640.740.539.640.740.439.839.240.3
39.739.840.440.540.741.241.340.640.740.6
39.839.9
40.039.840.039.639.840.1
39.939.839.639.639.739.9
39.639.439.739.540.040.2
39.839.839.840.040.240.7
37.637.537.237.6
37.337.437.637.737.637.637.437.237.137.0
36.837.0
36.836.837.036.836.937.0
37.036.836.536.736.937.1
36.936.737.036.837.137.2
36.936.836.736.937.137.5
1.2171.3281.378
1.4401.561.651.741.781.861.952.052.112.19
2.262.322.392.462.532.612.722.833.013.19
3.363.57
3.293.293.313.323.343.36
3.373.373.423.373.393.47
3.503.513.523.543.553.57
3.573.563.603.603.603.69
.18
.29
.34
.39
.51
.59
.68
.73
.79
.89
.992.052.12
2.202.252.312.372.442.512.592.722.883.06
3.243.44
3.173.173.193.203.223.23
3.253.243.293.253.273.35
3.383.403.403.423.433.44
3.453.433.463.463.463 .55
233.22 34.62 33. 3
44.043.150.3
51.95S.058.962.164.166.169.673.278.278.6
81.283.685.787.890.392.695.7
100.0106.2112.6
119.7127.7
116.5116.9117.6118.1118.8119.2
119.9120.4121.6121.1121.9123.8
124.8125.3125.8126.5126.9127.3
127.8128.3129.1128.9129.0132.1
42.045.046.5
. 799 $0.
46.544.040.440.540.439.4
41.141.541.541.240.141.341.040.339.540.7
40.140.340.941.141.442.042.141.241.441.3
40.340.4
40.640.340.640.140.340.7
40.340.240.140.140.140.5
40.139.940.440.040.540.8
40.140.040.040.540.741.3
.9371.048
.762 38.9
.872 40.3
.966 42.5
627 $0,613
1.105| 1.019 43.11.099 3 1.031J 42.31.1441.2781.3951.453
1.519 1.461.65 j 1.591.75 1.68
42
38.037.937.638.0
37.738.038.138.238.138.137.837.737.637.5
37.437.6
37.337.337.537.337.437.5
37.437.337.137.337.537.8
37.537.337.737.437.737.8
37.437.237.037.537.738.1
1.861.901.992.082.192.262.36
1.791.841.912.012.122.212.28
2.43 2.362.49 2.422.56 I 2.482.63 ! 2.542.71 2.602.79
40.540.239.638.9
39.739.539.739.639.039.9
2.903.003.193.38
3.563.80
3.493.483.513.513.543.57
3.573.583.623.563.573.68
3.723.743.753.763.783.80
3.793.793.833.823.833.94
2.672.762.883.053.24
3.433.67
3.353.353.383.393.423.43
3.443.453.493.443.463.56
3.613.623.633.643.663.67
3.663.663.693.693.693.79
39.639.238.839.7
39.239.339.639.639.740.140.239.739.839.7
39.139.3
39.239.139.239.039.039.2
39.339.338.939.039.139.3
38.938.738.938.939.239.4
39.439.539.539.439.639.9
37.237.036.637.0
36.736.836.936.936.836.936.836.636.536.3
36.136.3
36.136.136.236.236.136.2
36.436.235.836.036.236.5
36.236.036.236.236.336.3
36.436.336.136.236.536.8
.709
.787
.844
.886
.9951.1451.2501.295
1.3471.441.511.581.621.671.771.85
1.911.98
2.052.112.172.222.292.362.452.572.742.91
3.083.26
3.013.013.023.043.053.06
3.093.083.143.133.153.17
3.193.203.213.233.243.26
3.293.273.313.293.293.35
.684
.748
.7983.841.962
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
2.973.14
2.902.902.912.932.942.95
2.982.973.023.013.043.06
3.083.103.103.123.133.13
3.163.153.183.173.163.23
1 Earnings in current dollars adjusted to exclude the effects of overtime and interindustry shifts.2 Annual average not available; April used.s Eleven-month average; August 1945 excluded because of VJ Day holiday period.
Note—See Note, Tables B-27 and B-28.See Table B-28 for seasonally adjusted average gross weekly hours.Source: Department of Labor, Bureau of Labor Statistics.
231
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-32.—Average weekly earnings, gross and spendable, total private nonagriculturalindustries, in current and 1967 dollars, 1947-71
Year or month
194719481949 -
19501951 . . .19521953 .195419551956 .19571958 - -1959 .
I9601961196219631964 -.196519661967 -19681969 .
19701971 P
1970' JanFeb .MarApr -May . . -June...
JulyAugSeptOctNovD e c . . .
1971: JanFeb .MarAprMay...June
JulyAugSept. .OctN o vDec »
Average gross weeklyearnings
Currentdollars
$45.5849.0050.24
53.1357.8660.6563.7664.5267.7270.7473.3375.0878.78
80.6782.6085.9188.4691.3395.0698.82
101.84107.73114.61
119.46126.54
116.12116.55117.24116.97118.03120.05
121.45122.20121.73121 03121.07122.43
121.88122.61123.65124. 05125.49127.57
127.94129.03129.13129.13129.11130.55
1967dollars1
$68.1367.9670.36
73.6974.3776.2979.6080.1584.4486.9086.9986.7090.24
90.9592.1994.8296.4798.31
100.59101.67101.84103.39104.38
102.72104.32
102.49102.33102.39101. 54102.01103.22
104 07104.53103.60102 48102.17102.80
102.25102.69103.21103.20103.88105.00
105.04105.68105.67105.50105. 31106.05
Average spendable weekly earnings3
Worker with nodependents
Currentdollars
$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
95.94103.24
93.4393.7694.2794.0794.8696.38
97.4397.9997.6497.1197.1498.16
99.80100.34101.10101. 40102.46104.00
104.27105.07105.15105.15105.13106.20
1967dollars1
$58.5459.7961.83
63.8362.5762.9865.4866.7870.1672.0371.7371.4073.91
73.9574.8776.7877.4880.7883.5983.6383.3883.2182.84
82.4985.11
82.4682.3282.3381.6681.9982.87
83.4983.8283.1082.2381.9782.42
83.7284.0484.3984.3684.8285.60
85.6186.0586.0585.9185 7586.27
Worker with threedependents
Currentdollars
$44.6448.5149.74
52.0455.7957.8760.3160.8563.4165.8267.7169.1171.86
72.9674.4876.9978.5682.5786.3088.6690.8695.2899.99
104.61111.82
101.97102.32102.87102.65103.48105.08
106.18106.78106.40105.85105.88106.96
108.15108.73109.55109.86111.00112.64
112.93113.79113.86113.86113.85114.99
1967dollars1
$66.7367.2869.66
72.1871.7172.7975.2975.5979.0680.8680.3279.8082.31
82.2583.1384.9885.6788.8891.3291.2190.8691.4491.07
89.9592.18
90.0089.8389.8489.1189.4490.35
90.9991.3490.5589.6389.3589.81
90.7391.0691.4491.4091.8992.71
92.7293.1993.1893.0292.8693.41
» Earnings in current dollars divided by the consumer price index.> Average gross weekly earnings less social security and income taxes.
Note.—"Total private" consists of manufacturing; mining; contract construction; transportation and public utilities;wholesale and retail trade; finance, insurance, and real estate; and services.
See also Note, Tables B-27 and B-28.
Source: Department of Labor, Bureau of Labor Statistics.
232
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-33.—Average weekly earnings, gross and spendable, in manufacturing industries, incurrent and 1967 dollars, 1939-71
Year or month
1939
1940 . .194119421943 . .194419451946194719481949
1950 .19511952195319541955 . . . .195619571958 . . .1959
19601961 - . . .196219631964196519661967 . .19681969
19701971 v
1970: Jan. . .FebMarAprMayJune
JulyAugSeptOctNovDec
1971: JanFeb . -MarApr . -MayJune
JulyAugSeptOct .Nov pDec v
Average gross weeklyearnings
Currentdollars
$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 5699.63
102.97107. 53112.34114.90122.51129. 51
133.73142.44
131.60130.94132.40131.47132.93134.74
134.46134.13135.43133.45134.58138.45
138 60138.29139.74139.83142.00143.51
142.09141.69143.28144.00144. 72150.18
1967dollars *
$56.83
59.4366.8575.1683.1586.7282.0074.0573.5073.6875.46
80.8981.4184.4887.9887.5794.3996.7896.7995.51
101.10
101.15103.06106.58108.65110.84113.79115.58114.90117.57117.95
114.99117.43
116.15114.96115.63114.12114.89115.86
115.22114.74115.26113.00113.57116.25
116 28115.82116.64116.33117.55118.12
116.66116.04117.25117.65118.04122.00
Average spendable weekly earnings 2
Worker with nodependents
Currentdollars
$23. 37
24.4627.9631.8035.9537.9936.8237.3142.1046.5747.21
50.2652.9755.0457.5958.4562.5164.9266.9367.8271.89
72.5774.6077.8679.8284.4089.0891.5793.2897.70
101.90
106.62114.97
105. 03104. 53105.63104.93106.02107. 38
107.17106 92107.90106.41107.26110.16
112 14111.91112.98113.04114.65115.76
114.71114.42115.59116.12116.65120.64
1967dollars *
$56.18
58.2463.4065.1669.4072.0968.3163.7862.9364.5966.12
69.7168.0869.2371.9072.6177.9479.7579.4078.3182.35
81.8283.2685.9487.0490.8594.2694.2193.2893.7692.81
91.6894.78
92.7091.7792.2591.0991.6392.33
91.8391.4691.8390.1090.5192.49
94.0893.7394.3194.0494.9195.28
94.1893.7194. 5994.8795.1598.00
Worker with threedependents
Currentdollars
$23.40
24.7129.1936 3141.3343.7642.5942.7947 5852.3152.95
56.3660.1862.9865.6065.6569.7972.2574.3175.2379.40
80.1182.1885 5387.5892.1896.7899.45
101.26106. 75111.44
115.90124.24
114.17113.69114.85114.06115.27116.71
116.48116.22117.25115 68116.58119.66
121.25121.01122.14122.21123. 90125.07
123.97123.65124. 89125.45126. 01130.25
1967dollars 1
$55.25
58.8366.1974 4179.7983.0479.0273.1571 1272.5574.16
78.1777.3579.2281.9081.5587.0288.7688.1586.8790.95
90.3291.7294.4095.5199.22
102.41102.31101.26102.45101. 49
99.66102. 42
100.7799.82
100.3199.0199.63
100.35
99.8199.4299.7997.9598.38
100.47
101.72101.35101.95101.67102. 57102. 94
101. 78101.27102.20102. 49102.78105.81
1 Earnings in current dollars divided by the consumer price index.2 Average gross weekly earnings less social security and income taxes.
Note.—See Note, Tables B-27 and B-28.
Source: Department of Labor, Bureau of Labor Statistics.
233
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-34.—Indexes of output per man-hour and related data, private economy, 1947—71
[1967=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...
1970...1971v__
1947...19481949...
1950...1951 . .19521953 .19541955 . .19561957 . .19581959—
19601961 . .19621963...19641965 ..1966...196719681969
19701971 v
Totalpri-vate
45.647.847.6
52.555.857.260.159.364.365.666.565.670.2
71.973.278.281.586.291.897.7
100.0L04.8107.5
106.8109.9
Farm
71.179.577.0
81.277.079.583.785.487.487.084.987.088.3
91.692.992.595.493.399.293.7
100.097.9
101.3
100.0107.0
Nonfarm industries
Total
Output
44.546.546.4
51.355.056.359.158.363.464.765.764.869.5
71.172.577.680.985.991.597.9
100.0105.1107.8
107.1110.0
Man-ufac-tur-ing
i
44.746.944.2
51.356.557.862.658.265.065.365.560.267.6
68.668.375.279.084.592.7
100.1100.0106.7109.9
105.7105.4
Non-man-ufac-tur-ing
44.546.347.6
51.454.155.557.358.362.564.465.967.270.4
72.574.678.981.983.690.996.7
100.0104.2106.7
107.8112.4
Compensation per man-hour*
36.239.540.1
42.846.949.852.954.555.959.563.366.069.0
71.774.477.780.884.988.494.5
LOO. 0107.6115.6
124.0132.6
38.341.843.0
45.349.352.054.956.658.662.065.568.171.0
73.976.379.382.286.189.294.6
100.0107.3114.7
122.7131.2
37.140.742.6
44.749.352.455.357.860.063.967.770.673.5
76.679.082 385.089.091.295.3
100.0107.2114.1
121.6129.1
38.942.343.3
45.749.151.554.255.957.660.864.367.069.7
72.675.277 980.984.888.394.2
100.0107.3115.2
123.9133.3
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Man-hours *
88.889.286.2
87.990.791.292.088.692.193.792.388.491.2
92.090.692.492.994.597.499.7
100.0101.8104.0
102.4101.7
243.4233.9232.4
215.1203.1192.8179.3173.9176.7168.6155.3144.2143.6
141.2132.6129.0122.1117.4114.1103.6100.097.891.5
86.585.3
78.079.176.0
79.082.984.185.982.686.188.487.984.587.6
88.687.789.890.992.996.399.5
100.0102.1104.9
103.5102.8
81.580.973.7
79.885.987.391.683.788.289.588.180.986.1
85.883.586.987.789.494.3
100.2100.0101.9103.6
98.194.4
76.478.277.1
78.681.582.683.282.285.287.987.886.188.3
89.989.691.292.394.697.299.1
100.0102.2105.6
106.0108.7
Unit labor cost
70.673.772.5
71.776.379.481.081.580.185.087.988.989.8
91.892.191.892.193.193.896.5
100.0104 6111.9
118.9122.7
67.171.070.3
69.774.377.679.780.379.684.787.688.789.5
92.092.391.892.393.293.996.2
100.0104 3111.6
118.6122.6
67.770.371.0
69.574.879.180.983.281.487.691.194.993.7
95.996.595.094.494.192.895.5
100.0102 3107.5
112.9115.7
66.971.470.0
69.973.976.678.778.878.482.985.785.987.3
90.090.290.191.292.794.496.5
100.0105.3114.0
121.9126.5
Totalpri-vate
Farm
Nonfarm industries
TotalMan-ufac-tur-ing
Non-man-ufac-tur-ing
Output per man-hour
51.353.655.3
59.761.562.765.366.969.970.072.074.376.9
78.280.984.787.791.194.298.0
100.0102.9103.4
104.3108.1
29.234.033.1
37.737.941.246.749.149.551.654.760.461.5
64.970.071.778.179.586.990.5
100.0100.2110.7
115.6125.6
57.158.861.1
65.066.366.968.970.573.673.274.876.779.3
80.382.786.489.192.495.198.4
100.0102.9102.7
103.5107.0
54.857.960.0
64.465.966.268.369.573.772.974.474.478.5
79.981.886.690.194.598.399.9
100.0104.7106.1
107.7111.6
58.259.261.8
65.366.467.268.971.073.473.375.078.079.8
80.683.386.588.791.593.597.6
100.0101.9101.1
101.7105.3
Implicit price deflator*
66.470.970.2
70.976.177.578.179.179.882 385.387.188.3
89.590.491 292.293.294.897.2
100.0103 6108.3
113.6118.5
63.868.268.7
69.474.075.977.278.579.582.385.386.888.3
89.690.491.292.393.494.896.8
100.0103.5108.1
113.5118.7
66.971.372.8
73.077.979.680.081.683.186.989.791.993.3
94.194.494.494.595.495.797.4
100.0102.3104.0
107.1
62.366.666.6
67.771.874.075.976.977.980.083.284.385.9
87.388.589.791.192.494.396.6
100.0104.2110.3
116.5
i Output refers to gross national product in 1958 dMIars.> Hours of all persons in private industry engaged in production, including man-hours of proprietors and unpaid family
workers. Man-hours estimates based primarily on establishment data.3 Wages and salaries of employees plus employers' contribution for social insurance and private benefits plans. Also
includes an estimate of wages, salaries, and supplemental payments for the self-employed.4 Current dollar gross product divided by constant dollar product.
Note.—For information on sources, methodology, trends, and underlying factors influencing the measures, see Bureauof Labor Statistics, Department of Labor, Bulletin No. 1458, "Handbook of Methods for Surveys and Studies," October
Source: Department of Labor, Bureau of Labor Statistics.
234
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITYTABLE B-35.—Industrial production indexes, major industry divisions, 1929—71
[1967 = 100]
Year or month
1929
1930. . . .19311932...193319341935...1936. . . .1937 . .1938.1939...
19401941. . .19421943 .1944...19451946.1947...19481949
19501951 .1952 . .19531954.1955. .1956 . .195719581959
1960196119621963. . .196419651966 . .196719681969
19701971 v
1970: Jan .FebMarApr . . . . --MayJune . .
JulvAugSeptOctNovDec
1971: Jan . . .FebMarAprMayJune
JulyAugSeptOctNov p
Dec *>
Totalindustrialproduction
21.6
18.014.911.613.715.017.320.422.317.621.7
25.431.636.344.047.440.635.039.441.038.844.9 :
48. 750.654. 8 /
51.958.561.161.957.964.866.266.772.276.581.789.297.9
100.0105.7110.7106.7106.5
Total
22.818 715.311.814.015.318.021.523.418.021.5
25.432 437.847.050.942.635.339.440.938.745. 048.650.655 151.558.260.561.256.964.165.465.671.475.881.289.198.3
100.0105.7110.5
105 2104.9
Manufacturing
Durable
22.616 811.57.09.1
11.214.318.520.913.417.8
23.731.640.154.560.245.531.837 939.535.943.749.252.259 052.059.561.561.954.262.263.362 169.073.579.088 599.0
100.0105.5110.0101.599.0
Nondurable
23.020 919.717.319.720.222.425.026.423.525.9
27.232 934.336.738 238.139.340 942.241.546.247.848.750 751,056.659.560.561.067.0
68.670 775.179.284.490 097.3
100.0106.0111.1
110.6113.3
Mining
44.438 533.027.631.533.035.841.246.440.243.4
48.251 252.854.057 956.855.863 166.358.865 772.171.573 471.980.284.484.577.581.182.783 285.689.091.193 998.4
100.0103.9107.2109.7105.9
Utilities
7.27 47.16.66.56.97.58.59.39.4
10.4
11.513 014.616.117 117.418.119 621.923.326.530.332.835 638.342.847.050.252.557.861.865.370.275.181.986.993.6
100.0109.4119.5128.5135.3
Seasonally adjusted
107.4108.0107.6107.5107.5107.6107.5107.5106.5103.7102.6104.6105.3105.7105.5106.2107.0107.2106.1105.3106.2106.4107.0107.8
106.4107 0106 7106.5106.5106.6106.9105.5104.8101.4100.2102.4103.3103.9103.2104.4105.7105.6104.9103.6104.9105.6105.7106.5
103.7103 5104.3103.6103.6103.7103.7103.5100.795.793.897.398.198.698.399.1
100.5100.199.496.698.599.498.999.7
110.4111.8110.2110.5110.9111.0111.6108.6110.7109.7109.6110.0110.9111.7110.4112.1113.3113.7113.0113.8114.2114.5115.6116.2
109.5109 2109.1108.7108.6107.1106.5108.8110.9112.4113.7112.1111.1110.1111.4110.4108.6108.9105.7106.5106.097.5
101.4107.1
124.1125.0123.9125.9126.9127.9130.2130.5133.9134.0129.6130.2129.6132.2131.5133.2132.1135.6138.7137.0138.4137.8137.4137.2
Source: Board of Governors of the Federal Reserve System.
235
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-36.—Industrial production indexes, market groupings, 1947-71
[1967=1001
Year ormonth
1947..1948..1949..
1950..1951. .1952..1953. .1954..
1955..1956..1957..1958..1959..
I960. .1961. .1962. .1963. .1964..
1965. .1966..1967 .1968..1969. .
1970..1971 P.
1970: Jan...Feb..Mar_.Apr_.May._June-July..Aug..Sept.Oct . .NovD e c .
1971: Jan...Feb..Mar..Apr..May_.June.
July..Aug_.Sept .Oct._Nov ".Dec p.
Totalindus-trialpro-duc-tion
39.441.038.8
44.948.750.654.851.9
58.561.161.957.964.8
66.266.772.276.581.7
89.297.9
100.0105.7110.7
106.7106.5
Final products
Total
38.339.738.5
43.446.850.353.750.8
54.958.259.957.162.7
64.865.370.874.979.6
86.896.1
100.0105.8109.0
104.4104.6
Consumer goods i
Total
42.744.043.8
50.049.550.653.753.3
59.561.763.262.668.7
71.372.877.782.086.8
93.098.6
100.0106.6111.1
110.3115.7
Auto-motiveprod-ucts
47.850.049.6
62.455.249.762.858.4
77.763.966.953.266.8
76.469.884.592.596.8
112.3108.8100.0117.9117.4
99.9119.5
Homegoods
39.140.837.7
52.044.844.850.746.8
55.258.156.853.661.6
62.063.969.474.981.7
91.4100.7100.0106.9111.6
107.6111.6
Equipment
Total
29.731.227.9
30.242.150.554.747.9
48.953.755.950.054.9
56.455.661.965.670.1
78.793.0
100.0104.7106.1
96.189.2
Busi-
38.039.534.5
37.045.251.253.246.8
50.758.761.051.557.9
59.457.762.765.874.7
84.498.8
100.0103.4107.9
101.196.2
Inter-mediateprod-ucts
42.544.942.6
49.652.051.755.355.1
62.665.365.363.970.5
71.072.476.981.187.3
93.099.2
100.0105.7112.0
111.9112.8
Materials:
Total
39.741.437.8
45.250.050.756.352.0
61.563.163.156.865.5
66.466.472.477.082.6
91.099.8
100.0105.7112.4
107.8106.8
Dura-ble
goods
39.140.236.0
45.351.652.761.553.1
65.065.265.154.865.3
66.164.671.876.682.7
93.0103.0100.0105.0112.2
103.4101.0
Seasonally adjusted
107.4108.0107.6107.5107.5107.6
107.5107.5106.5103.7102.6104.6
105.3105.7105.5106.2107.0107.2
106.1105.3106.2106.4107.0107.8
105.6106.1105.3105.6106.0105.5
105.5104.9103.5101.4100.2102.2
102.9103.0102.5103.6103.9104.5
104.9105.0104.6105.0106.3106.4
108.8110.2109.2110.5111.8111.7
112.2111.6110.1109.0107.7110.8
112.8112.9112.7114.6115.7116.1
116.0116.0115.0116.0117.9117.8
103.0101.0104.2106.2114.5114.8
112.7111.291.177.676.0
100.0
110.9117.8117.8113.7123.1121.2
120.1121.1118.0120.6120.4120.4
103.6107.0108.8108.1108.5107.1
110.3109.9108.6108.3106.6104.6
106.5106.5108.2111.4113.9113.3
113.5112.9111.1112.9113.8115.3
101.0100.6100.298.898.097.1
96.295.594.290.889.890.3
88.989.388.488.187.888.2
89.389.690.289.790.090.4
103.9104.0104.3103.3103.3102.6
102.5101.7100.595.994.695.6
94.296.095.095.194.495.0
96.396.897.897.397.898.5
111.7111.8111.5111.8111.6112.0
113.5112.2111.4111.9111.6112.1
110.9112.5112.0112.4113.5112.4
113.8110.7112.5113.3114.4114.6
108.6109.4109.6108.6108.3108.8
108.5109.3109.0104.1102.8105.4
106.5106.8107.1107.5108.9109.0
105.3104.0106.2105.8105.6107.5
106.1105.6106.8104.7105.1105.8
105.4106.4105.196.293.699.4
101.5101.6101.9102.2104.8103.0
98.794.998.7
101.1100.2101.1
Non-dura-
blegoods
38.840.937.8
43.647.147.350.250.3
56.959.559.358.165.0
65.968.272.977.182.1
96.3100.0106.9112.8
112.5113.4
111.9114.0112.4113.0111.3111.4
111.6111.6112.9113.4113.3112.1
111.7112.1112.0112.7112.8115.5
112.3114.8114.7114.2113.6114.8
1 Also includes apparel and consumer staples, not shown separately.2 Also includes industrial fuel and power, not shown separately.
Source: Board of Governors of the Federal Reserve System.
236
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-37.—Industrial production indexes, selected manufactures, 1947-71
[1967=100]
Year ormonth
1947..1948..1949..
1950..1951..1952..1953..1954..1955..1956.1957.1958..1959..
I960..1961..1962..1963..1964_.1965..19661967..1968..1969
1970...1971 p.
Durable manufactures
Pri-mary
metals
64.:
Fabri-catedmetalprod-ucts
50.251.146.1
Ma-chinery
Trans-porta-tion
equip-ment
31.033.934.0
Instru-ments
24.525.222.5
Ord-nance,private
andgov-ern-ment
7.89.09.2
Lum-ber,clay,and
glass
Furni-tureand
miscel-laneous
Nondurable manufactures
Tex-tiles,
apparel,and
leather
Paperand
print-ing
Chem-icals,
petro-leum,and
rubber
Foodsand
tobacco
67.456.7
71.477.7
56.560.458.9
40.745.452.866.257.666.364.368.954.361.5
63.759.969.375.979.691.3
101.2100.0109.7107.6
90.391.3
26.130.035.739.239.644.248.550.747.755.2
57.857.359.866.471.382.995.3
100.0106.7116.1
110.8108.9
11.442.252.063.248.436.131.835.944.446.1
46.439.245.051.650.760.575.1
100.0113.7111.6
95.388.1
70.980.465.084.584.080.463.874.5
74.272.978.284.395.7
104.0108.8100.0103.2114.1
106.9101.2
66.559.968.369.371.163.771.5
71.669.875.978.483.392.6
100.5100.0106.3113.6
109.4107.4
41.746.752.252.045.453.9
56.257.164.867.974.384.198.6
100.0101.9106.8
100.495.6
64.773.875.973.371.482.2
78.579.784.388.994.098.7
102.6100.0105.6111.1
106.3111.3
53.765.868.767.162.168.7
69.770.676.179.584.793.8
100.8100.0106.2111.6
108.8110.3
65.773.475.173.471.879.6
79.280.284.386.991.997.8
101.7100.0104.9105.9
100.2100.6
52.257.861.562.261.567.0
69.271.074.378.484.590.598.9
100.0104.2109.1
107.8107.5
35.441.243.545.846.553.8
55.658.364.570.075.983.894.1
100.0109.6118.4
118.2124.5
Seasonally adjusted
1970: Jan .Feb . .Mar--Apr . .May..June.
July..AugSept.Oct . .Nov..Dec. .
1971: J a n . .Feb . .Mar. .Apr . .May..June.
July..Aug. .Sept.Oct..NOVP.Dec *>.
107.6107.1108.5106.4110.2109.1
107.5111.9108.8102.598.4
104.3
108.1105.5106.6108.7114.3108.1
98.281.093.995.693.396.5
110.1111.4110.8111.6109.0110.7
112.2111.8109.0106.3104.5106.2
105.4106.6104.9108.5108.5108.5
110.8108.0105.7106.9107.3108.5
100.7102.3104.2102.5102.0101.6
103.6101.5100.496.594.994.8
93.494.294.094.295.395.2
97.495.696.397.096.697.9
97.093.795.295.296.398.9
96.396.187.573.871.786.8
91.192.691.389.590.991.7
88.591.191.792.591.490.8
113.2114.0113.8114.0113.1112.6
110.8110.5108.9107.3106.5104.9
106.5105.3105.5106.7108.0108.5
110.9109.1110.5111.7112.1111.7
103.1101.8100.798.297.296.3
92.392.691.890.589.688.6
87.986.085.585.286.088.8
88.890.090.290.389.689.6
108.8107.2105.7107.2106.1104.8
106.4106.6105.6105.3105.0107.5
106.9109.8110.8113.0112.3111.0
111.2110.4111.1112.7113.1113.2
108.5110.2109.6110.21C9.5108.8
109.9110.0109.4108.7105.7104.9
105.2107.1105.6109.5109.9111.3
113.5111.3112.0112.1112.5113.8
103.2102.899.4
101.2103.0101.1
101.599.399.198.796.097.1
98.698.097.399.8
101.5102.4
100.2100.1102.5103.9100.4102.0
108.4109.3108.0108.4108.6108.4
110.0107.9106.7106.1106.4105.0
107.1108.1104.6106.9106.9106.0
106.8108.2108.3109.1109.0108.7
117.4119.1118.1117.9116.8118.7
119.5117.8119.1117.2117.8118.9
118.2120.9120.5122.4124.2125.3
124.0126.2127.3126.1128.5130.0
63.266.670.371.573.677.2
79.281.584.087.090.692.697.0
100.0103.6107.5
110.8113.4
108.4111.4109.8110.1111.4110.9
110.6104.4112.0111.7111.9112.5
113.9113.1112.2112.9113.6113.7
113.8112.8111.1112.4116.2115.4
Source: Board of Governors of the Federal Reserve System.
237451-688 O—72- -16
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-38.—Manufacturing output, capacity, and utilization rate, 194S-71
19481949
19501951195?19531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971 v
1966-
1967-
1968:
1969:
1970-
1971:
1II . . .IllIV
1II .IIIIV
1IIIIIIV..
1IIIIIIV. .
1IIIIIIV
1 vII PIII P.IV P . . . .
Period Output^ Capacity
1967 output=100
41.539.1
45.449.350.955.451.4
58.160.361.156.964.0
65.365.671.375.781.1
89.098.199.9
105.6110.4
105.2104.8
95.197.799.3
100.2
98.898.999.9
101.9
103.5105.3106.3107.3
109.5110.4111.8110.1
106.7106.7105.8101.5
103.5105.5104.5105.8
44.847.3
49.451.854.958.161.2
64.468.374.875.778.6
81.684.587.791.294.8
100.0106.7113.7120.5127.7
134.6140.7
I
Total
92.782.7
91.995.192.895.584.1
90.088.284.575.181.4
80.177.681.483.085.5
89.091.987.987.786.5
78.274.5
Jtilization rate2
Advancedproducts
Percent
89.882.1
88.892.593.796.184.7
87.786.984.175.080.7
80.377.381.182.584.2
87.891.889.188.185.4
76.472.2
Seasonally adjusted
104.1105.9107.6109.4
111.2112.8114.5116.2
117.9119.6121.3123.0
124.9126.8128.7130.5
132.2133.8135.3136.9
138.4139.9141.4142.9
91.492.392.391.6
88.987.787.387.7
87.988.187.687.2
87.787.186.984.3
80.779.778.274.1
74.775.473.974.0
91.091.992.092.2
89.989.588.688.4
88.888.388.287.3
87.186.285.882.5
79.378.376.371.8
72.472.472.072.0
Primaryproducts
98.183.8
97.8100.191.294.382.9
93.790.785.275.282.7
79.478.281.884.088.0
91.192.185.786.888.5
81.578.8
92.292.992.890.6
87.184.484.986.5
86.187.686.687.0
88.688.788.987.7
83.582.481.678.4
79 180.977.477.8
1 May differ slightly from data shown in Table B-35 because of rounding.2 Output as percent of capacity.Note.—For description of series, see "Federal Reserve Bulletin," October 1971, pp. 779-781 and "Federal Reserve
Bulletin," November 1966, pp. 1605-1615.
Source: Board of Governors of the Federal Reserve System, based on data of Federal Reserve, Department of Commerce,and McGraw-Hill Information Systems Company.
238
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-39.—Business expenditures for new plant and equipment, 1947-72l
[Billions of dollars]
Yearor quarter
194719481949
19501951195219531954
19551956195719581959 . . .
19601961196219631964
19651966196719681969
197019713
1972 3
1969: 1II . . . .III. . .IV. . .
1970: 1II —III. . .IV....
1971: 1I I . . . .Ill —
1972: |3____113
Total
19.3321.3018.98
20.2125 4626.4328.2027.19
29.5335.7337 9431.8933.55
36 7535.9138.3940.7746 97
54.4263 5165.4767.7675.56
79.7181.47
88.90
72.5273.9477.8477.84
78.2280.2281.8878.63
79.3281.6180.7584.02
87.1488.47
Manufacturing
Total
8.449.017 12
7.3910 7111.4511.8611.24
11.8915.4016 5112 3812.77
15 0914.3315.0616.2219 34
23.4428 2028 5128.3731.68
31.9530.21
31.42
29.9931.1633.0532.39
32.4432.4332.1530.98
30.4630.1229.1931.12
31.2631.18
Dura-ble
goods
3.253.302 45
2.944 825 215.314.91
5.417.457 845 615 81
7 236 316 797.539 28
11.5014 0614 0614.1215.96
15 8014.29
15.02
15.4715.9816.5315.88
16.4016.3215.7414.92
14.2114.0613.7615.11
15.9415.12
Non-durablegoods
5.195.714 68
4.455 896 246.566.33
6 487.958 686 776 95
7 858 028.268.70
10 07
11.9414 1414 4514 2515.72
16 1515.92
16.40
Mining
0.69.9388
.841 111 211.251.28
1.311.641 691 431.36
1 301.291.401.271 34
1.461 621.651.631.86
1.892.13
2.37
Transportation
Rail-road
0.911.371.42
1.181 581.501.42.93
1.021.371 58.86
1.02
1.16.82
1.021.261.66
1.992 371.861.451.86
1.781.67
1.88
Air
0.17.10.12
.10
.14
.24
.24
.24
.26
.35
.41
.37
.78
.66
.73
.52
.401.02
1.221.742.292.562.51
3.031.87
2.50
Other
1.131.17.76
1.091.331.231.291.22
1.301.311.301.061.33
1.301.231.651.581.50
1.681.641.481.591.68
1.231.37
1.43
Seasonally adjusted annual rates
14.5215.1816.5216.50
16.0516.1116.4016.05
16.2516.0615.4316.01
15.3116.06
1.831.881.891.85
1.921.841.861.94
2.042.082.232.18
2.09
1.681.762.061.94
1.741.881.961.56
1.461.881.721.64
2.12
2.892.222.232.80
2.942.883.243.08
1.292.281.682.20
2.18
1.871.661.651.63
1.371.121.221.22
1.331.401.481.30
1.60
Publicutili-ties
1.542.543.10
3.243.563.744.343.99
4.034.525.675.525.14
5.245.004.904.985.49
6.137.438.74
10.2011.61
13.1415.20
17.58
11.5211.6811.4811.80
12.1412.7213.8413.68
14.6414.9115.8715.37
16.32
Com-muni-cation
1.40.74.34
1.14.37.61.78
1.82
M l2.823.192.792.72
3.243.393.854.064.61
5.306.026.346.838.30
10.1010.89
31
7.747.928.718.76
9.1410.3810.6210.20
10.7011.2110.73
Com-mer-cialand
other2
5.054.424.24
5.225.675.456.026.45
7.638.327.607.488.44
8.759.139.99
10.9912.02
13.1914.4814.5915.1416.05
16.5918.11
73
15.0015.6716.7816.67
16.5216.9817.0015.97
17.3917.7217.85
30.2031.57
57.28
iExcludes 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.
2Commercial and other includes trade, service, construction, finance, and insurance.s Estimates based on expected capital expenditures reported by business in October-December 1971. Includes
adjustments when necessary for systematic tendencies in expectations data.
Note.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the average of season-ally adjusted figures.
Sources: Department of Commerce (Bureau of Economic Analysis) and Securities and Exchange Commission.
239
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-40.—New construction activity, 1929-71
[Value put in place, millions of dollars]
Year or month
1929
1930193119321933193419351936193719381939
1940194119421943194419451946
New series1946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
197019716
Totalnewcon-
struc-tion
10,793
8,7416,4273,5382,8793,7204,2326,4976,9996,9808,198
8,68211,95714,0758,3015,2595,80912,627
14,30820, 04126,07826,722
33, 57535,43536, 82839,13641,38046,51947,60149,13950,15355, 305
54, 63256, 29259, 96564, 56367,41373,41276, 00277, 50386, 62693, 347
94, 265108,440
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, 76939,14442, 09645, 20647, 03051,35051,99551, 96759, 02165, 384
66,14778, 620
Residentialbuildings l
Total 2
3,625
2,0751,565
630470625
1,0101,5651,8751,9902,680
2,9853,5101,715
885815
1,2764,752
6,2479,85013,12812,428
18,12615,88115,80316,59418,18721,87720,17819, 00619, 78924,251
22, 97523,10725,15027, 87428,01027, 93425,71525, b6830, 56533,200
31,74841,970
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
17,27917,07419, 44321,73521, 78621,71219,35218, 98524, 03025, 941
24,15634, 090
Nonresidential buildings and otherconstruction i
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
15,79416,03716,94617,33219,02023,41626, 28026, 39928, 45632,184
34, 39936, 650
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
4,1804,6745,1444,9955,396
7,7619,401
9,75411,590
In-dus-trial
949
53222174176191158266492232254
442801346156208642
1,689
1,6891,7021,397972
1,0622,1172,3202,2292,0302,3993,0843,5572,3822,106
2,8512,7802,8422,9063,565
6,0216,783
6,5385,430
Other*
2,598
2,3831,528749455520620860
1,1491,0531,163
1,2791,4861,199905
1,1071,2902,802
2,9884,2135,4525,871
6,1066,6846,7897,2807,2397,3107,9768,9538,9368,948
8,7638,5838,9609,431
10, 059
14, 67416,000
18,10719, 630
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
15,86317,14817,86919,35720,38322, 06224, 00725, 53627, 60527, 963
28,11829,820
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
3,6223,8793,9134,0013,8984,0143,9643,4753,3673,312
3,3123,990
Stateand
locallyowned 5
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, 95615,35616,48518, 04820, 04322, 06124,23824, 651
24, 80625,830
See footnotes at end of table.
240
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-40.—New construction activity, 1929-71—Continued[Value put in place, millions of dollars]
Year or month
1970: JanFeb___.Mar_._.Apr_ . . .May.___J u n e . . .
J u l y . . . .AugS e p t . . .OctN o v . . . .Dec_ . . .
1971: JanF e b . . . .Mar_._.AprMay . . . .J u n e . . .
JulyAugS e p t . . .Oct . . . . .Nov p_-
Totalnewcon-
struc-tion
91,47592, 32291,94891,05891,40293,796
93,25094,97394,24196,40198, 285
102, 628
100,645102,340103,027105, 875107, 591109,210
109,957111,910110,031113,648113,353
Private construction
Total
64, 38764,61565, 39264,99164, 86665, 580
64,81665,44466,40667, 84669, 24870, 729
70,63770,74372,96176, 26377,88079, 941
80, 48482, 07181, 44281, 80582,940
Residentialbuildingsx
Total 2
32,23532, 24531,77531,02430,55930,216
29,97230, 03531,22232,89134,09635,104
35,62936, 50937,67839, 58941, 50042, 326
42,68943,92744, 73945, 03545, 030
Newhous-
ingunits
Nonresidential buildings and other
Total
construction'
Com-mer-cials
In-dus-trial
Seasonally adjusted annual rates
24, 20323,54323,29622,97422,74922,798
23,35623,90124,46824,96625, 55926, 681
27, 56128,51829,60731,04632, 87434, 041
35, 04036, 59937, 40637, 46137, 340
32,15232,37033,61733,96734,30735, 364
34, 84435,40935,18434, 95535,15235, 625
35, 00834,23435, 28336,67436,38037,615
37, 79538,14436, 70336, 77037,910
9,91910,08010, 3529,7329,737
10,073
9,4869,7349,5429,3139,348
10, 001
10,26210,10610,73411,26211,03811,795
12,69013,06911,70211,51012,124
6,2826,4676,5946,9016,7366,911
6,5816,7676,4496,4066,2826,088
6,1696,2586,0726,1105,7665,508
5,4284,8524,5974,9934,924
Other*
15,95115,82316,67117,33417,83418,380
18,77718,90819,19319, 23619, 52219, 536
18,57717,87018,47719, 30219, 57620,312
19,67720,22320, 40420,26720, 862
Public
Total
27,08827, 70726,55626,06726,53628,216
28,43429,52927,83528,55529,03731, 899
30,00831,59730,06629,61229,71129,269
29, 47329,83928, 58931, 84330,413
construction
Fed-erallyowned
3,1193,1323,0213,4363,0753,247
3,0013,4553,4743,4413,4883,604
3,8183,7083,8514,0233,9563,956
4,6104,0313,8694,0424,303
Stateand
locallyowned
23,96924,57523,53522,63123,46124,969
25,43326,07424, 36125,11425,54928,295
26,19027,88926,21525, 58925, 75525,313
24, 86325,80824, 72027, 80126,110
1 Beginning 1960, farm residential buildings included in residential buildings; prior to 1960, included in nonresidentialbuildings and other construction.
2 Total includes additions and alterations and nonhousekeeping units, not shown separately.3 Office buildings, warehouses, stores, restaurants, garages, etc.4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm, public utilities, and all other
private.o Includes Federal grants-in-aid for State and locally owned projects.6 Preliminary estimates by Council of Economic Advisers.
Source: Department of Commerce, Bureau of the Census, except as noted.
241
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-41.—New housing starts and applications for financing, 1929-71[Thousands of units]
Year ormonth
1929
1930193119321933193419351936193719381939
19401941194219431944
New series19451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970 . .1971*
Housing starts
Private andpublic i
Total(farm
andnon-
farm)
Non-farm
509.0
330 0254.0134.093.0
126 0221.0319.0336.0406.0515 0
602 6706 1356 0191.0141 8
326 11,023.21 268 51,362.11,466.1
1,951.91.491.0
.1,503.91,437.61,550.51,646.01,349.1
...11,223.91,382.0
1,553.5 1.531.3
1,296.0 1.274.01,365.0 U 3 6 . 81,492.4 1,468.71,642.0 1,614.81,561.0 1,534.01,509.6 1,487.51,195.9 1,172.81,321.9 1,298.81,545.5 1,521.41,499.6 1.482.3
1, 469.02,080.5
(•)(9)
Private i
Total (farm and nonfarm)
Total
1,516.8
1,252.11,313.01,462.71,610.31,528.81,472.91,165.01,291.61,507.71, 466. 8
1,433.62,048. 2
Type ofstructure2
Onefamily
1,234.3
994.7974.4991.3
1,020.7970.5963.8778.5843.9899.5810.6
812.91,148.5
Two ormore
families
282.5
257.4338.6471.4589.6558.3509.0386.4447.7608.2656.2
620.7899.6
Nonfarm
Total
509.0
330.0254.0134.093.0
126.0215.7304.2332.4399.3458.4
529.6619.5301.2183.7138.7
324.91,015.21,265.11,344.01,429.8
1,908.11,419.81,446.01,402.11,531.81,626.61,324.91,174.81,314.21,494.6
1,230.11,284.81,439.01,582.91,501.91,450.61,141.51,268.41,483.61,449.1
(e)(9)
SelectedGovernment
home programs 3
FHA*
13.248.857.0
106.8144.7
176.6217.1160.2126.183.6
38.967.1
178.3216.4252.6
328.2186.9229.1216.5250.9268.7183.4150.1270.3307.0
225.7198.8197.3166.2154.0159.9129.1141.9147.7153.6
233.5301.2
VA
8 8.891.8
160.371.190.8
191.2148.6141.3156.5307.0392.9270.7128.3102.1109.3
74.683.377.871.059.249.436.852.556.151.2
61.093.8
Newprivatehousing
unitsauthor-ized 5
1,208.3
998.01,064.21,186.61,334.71,285.81,239.8
971.91,141.01,353.41, 322. 3
1,351.51,880.9
Proposedhome con-struction 8
Appli-cations
forFHAcom-mit-
ments *
7 20.647.849.8
131.1179.8
231.2288.5238.5144.462.9
56.6121.7286.4293.2327. U
397.7192.8267.9253.7338.6306.2197.7198.8341.7369.7
242.4243.8221.1190.2182.1188.9153.0167.2168.9187.6
315.0366.8
Re-quests
forVAap-
prais-als
164.4226.3251.4535.4620.8401.5159.4234.2234.0
142.9177.8171.2139.3113.6102.199.2
124.3131.7138.2
143.7217.9
See footnotes at end of table.
242
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TABLE B-41.—New housing starts and applications for financing, 1929-71—Continued
[Thousands of units]
Year ormonth
1970: Jan.. .Feb. .Mar. .Apr_.M a y -June -
July..Aug_.Sept..Oct...Nov..D e c .
1971: Jan.. .Feb...Mar . .Apr...May. .June..
July_.Aug. .Sept..Oct_.N o v .Dec p.
Housing starts
Private andpublic i
Total(farmandnon-
farm)
Non-farm
Private *
Total (farm and nonfarm)
Total
Type ofstructure2
Onefamily
Two ormore
families
Nonfarm
Total
SelectedGovernment
home programs3
FHA* VA
1,0591,3061,3921,2241,2421,393
1,6031,4251,5091,5831,6932,054
1,7251,7541,9591,9121,9752,000
2,2292,2582,0022,0312,3032,517
577725708697728835
827838881890934
1,240
946985
1,0481,0981,1241,177
1,1871,2121,1871,1591,2831,411
482581684527514558
776587628693759814
779769911814851823
1,0421,046
815872
1,0201,106
169181185207194215
230238246266288354
410290265278265284
283321291299296399
525760605752
516460647178
767383939691
981029798
106101
Newprivatehousing
unitsauthor-ized s
Proposedhome con-struction °
Appli-cations
forFHAcom-mit-
ments*
Re-quests
forVAap-
prais-als
Seasonally adjusted annual rates
1,0671,1421,1051,1951,3361,312
1,3371,4041,4091,5581,5231,808
1,6351,5631,6271,6381,9271,849
2,0522,0061,9002,1731,9522,231
246249258281271291
297327337326345474
371350336347374370
383359344353296472
141140144135133126
126152139168157149
190174183210218257
228220252233210226
t Units in structures built by private developers for sale upon completion to local public housing authorities under theDepartment of Housing and Urban Development "Turnkey" program are classified as private housing. Military housingstarts, including those financed with mortgages insured by FHA under Section 803 of the National Housing Act, are in-cluded in publicly financed starts but excluded from total private starts and from FHA starts.
s Not available prior to 1959 except for nonfarm for 1929-44.* Data are not available for new homes started under the Department of Agriculture, Farmers Home Administration
program.* Units are for 1- to 4-family housing.s Data beginning 1967 cover approximately 13,000 permit-issuing places. Data for 1963-66 are based on 12.000 places
and 1959-62,10,000 places. The addition of approximately 1,000 permit-issuing places in 1957 contributed an increase of3 percent in total permit authorizations.
* Units in mortgage applications or appraisal requests for new home construction.7 FHA program approved in June 1934; all 1934 activity included in 1935.* Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.0 Not available separately beginning January 1970.
Sources: Department of Commerce, Department of Housing and Urban Development, and Veterans Administration,except as noted.
243
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TABLE B-42.—Sales and inventories in manufacturing and trade, 1947-71
[Amounts in millions of dollars]
Year or month
1947-1948..1949-
1950..1951..1952..1953-1954-
1955..1956-1957-1958..1959-
1960..196H.1962-1963..1964...
1965...1966...1967...1968__1969...
1970.. .1971 »..
1970: Jan.. . .Feb....Mar. . .AprMay...June...
Ju ly . . .Aug . . .Sept...Oct. . . .Nov. . .Dec . . .
1971: JanFeb....Mar . . .AprMay. . .June...
Ju ly . . .Aug . . .Sept...Oct....Nov p..D e c -
Total manufacturingand trade
Sales
35,26033,788
38, 59643, 35644,84047,98746,443
51,69454,06355,87954,23359,661
60,74661,13365,41768,96973,685 111
80,276 120,87,17289,70897,105103,178
113,975
Inven-tories2
52, 50749,497
59,82270, 24272,37776,12273,175
79,51687,30489,05286,92291,891
94,74795,648
101,090105,477
,457
1,900136,714145,072155,238166,412
106,276 173,635179,488
Ratio 3
1.421.53
1.361.551.581.581.60
1.471.551.591.601.50
1.561.541.511.491.47
1.451.471.571.541.56
1.601.55
Manufacturing
Sales i
15,51317,31616,126
18,63421,71422,52924,84323, 355
26,48027,74028,73627,28030,219
30,79630, 89633,11335,03237,335
41,00344,86346, 45850,28753,629
54,42957, 829
Inven-tories 2
25, 89728, 54326,321
31,07839, 30641,13643,94841,612
45, 06950,64251,87150,07052,707
53,81454,93958,21360,04363, 386
68,22177,95084,56390,73796, 673
100,476100, 793
Ratio 3
1.581.571.75
1.481.661.781.761.81
1.621.731.801.841.70
1.761.741.721.691.64
1.601.621.761.741.75
1.821.74
Merchant wholesalers
Sales i
6,8086,514
7,6958,5978,7829,0528,993
9,89310,51310,47510,25711,491
11,65611,98812,67413,38214, 527
15,59516,97917,09918,32919,726
20,55422,194
Inven-tories2
7,9577,706
9,2849,88610,21010,68610,637
11,67813,26012,73012,73913,879
14,12014,48814,93616,04816,977
18,27420,69121,55722,52824, 363
26,60428,318
Ratio 3
1.131.19
1.071.161.121.171.18
1.131.191.231.241.15
1.221.201.161.151.13
1.141.141.211.201.19
1.231.23
Retail trade
Sales
10,20011,13511,149
12,26813,04613,52914,09114,095
15,32115,81116,66716,69617,951
18, 29418,24919,63020,55621,823
23,67725,33026,15128,49029, 824
31,29433, 952
Inven-tories2
14,24116, 00715,470
19,46021,05021,03121,48820,926
22,76923,40224,45124,11325,305
26,81326,22127,94129,38631,094
34,40538, 07338,95241,97345,376
46,55550,377
Ratio 3
1.261.391.41
1.381.641.521.531.51
1.431.471.441.431.40
1.451.431.381.391.40
1.391.441.461.431.46
1.471.45
Seasonally adjusted
104,904105,870105,657104,807106,758107,389
107,626108,052107,73805,61004,48506,943
09,34611,166 .12,740 175,13,15514,30315,531
14,72715,06415,660 178;14,687.17,341
166,686167,688168,019169,164169,010169,929
171,121171,682172,238172,588173,374173,635
174,412174, 834
,536176,275177, 046177,403
177,652178,157178,924179,468179,488
1.591.581.591.611.581.58
1.591.591.601.631.661.62
1.601.571.561.561.551.54
1.551.551.551.561.53
54,27854,63054,49953,79054,87655, 440
55,38655,64455,07353,23552,56254,464
97,12397,62497,91498, 66798,55598, 744
99,16499,32999,576100,282100,927100,476
55,718 100,87856,9821100,60257,790 100,50257,68058,35258, 988
57,80457,89257, 43959, 061
T
100, 420100,647100, 536
58,418 100,194100,063100,266100,740100, 793
1.791.791.801.831.801.78
1.791.791.811.881.921.84
1.811.771.741.741.721.70
1.721.731.731.751.71
20, 29220,57120,46320,01220,68420,656
20, 63920,69820,71420, 75420,64120,718
21,33821,33421,67621,89722, 44922,716
22,62122, 60522,54922, 28422, 660
24,48424,85324,84224,94224,99025,142
25,41025,42325, 68926,00326,33426,604
26, 64626, 80626, 78827,04627,14027,333
27, 86627,79527,81427, 92828,318
1.211.211.211.251.211.22
1.231.231.241.251.281.28
1.251.261.241.241.211.20
1.231.231.231.251.25
30,33430,66930,69531,00531,19831,293
31,60131,71031,95131,62131,28231,761
32,29032,85033,27433,57833, 50233,827
33,68834,65535,21934, 96435,620'34,876
45,07945,21145,26345,55545,46546, 043
46,54746,93046,97346,30346,11346, 555
46, 88847,42648, 24648, 80949, 25949, 534
49,59250, 29950, 84450, 80050, 377
1.491.471.471.471.461.47
1.471.481.47
.46
.47
.47
.45
.44
.45
.45
.47
.46
.47
.45
.44
.451.41
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly sales; for monthly
data, ratio of inventories at end of month to sales for month.* Manufacturing data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau
of the Census, "Series M3-1.1," September 1968.« Based on seasonally adjusted data through November.« Unofficial estimate.
Note.—The inventory figures in this table do not agree with the estimates of change in business inventories includedin the gross national product since these figures cover only manufacturing and trade rather than all business, and showinventories in terms of current book value without adjustment for revaluation.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
244
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TABLE B-43.—Manufacturers' shipments and inventories\ 1947-71
[Millions of dollars]
Year or month
194719481949
195019511952 . . .1953...1954
19551956195719581959
19601961 3196219631964
19651966 .196719681969
19701971* _. .
1970: JanFebMar. . . . .AprMayJune
JulyAugSep t . . . .OctNovD e c . . .
1971: JanFebMarAprMay. . . .June
JulyAugSeptOctNov
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
41,00344,86346,45850,28753,629
54,42957,829
Dura-ble
goodsindus-tries
6,6947,5797,191
8,84510,49311,31313,34911,828
14,07114,71515,23713,57115,545
15,81715,54417,10318,24719,634
22,21624,62925, 22027,69529,539
29,34931,532
Non-durablegoodsindus-tries
8,8199,7388,935
9,78911,22111,21611,49411,527
12,40913,02513,49913,70814,674
14,97915,35216,01016,78617,701
18,78820,23321,23722, 59224,090
25,08026, 298
Inventories2
Total
25,89728,54326,321
31,07839,30641,13643,94841,612
45,06950,64251,87150,07052,707
53,81454,93958,21360,04363,386
68,22177,95084, 56390,73796,673
100,476100,793
Durable goods industries
Total
13,06114,66213,060
15,53920,99123,73125,87823,710
26,40530,44731,72830,09531,839
32,36032,50934,60535,81338,436
42,22749,79354,88858,96963,160
65,15264,399
Mate-rialsandsup-plies
8,9667,894
9,19410,41710,6089,847
10,585
10,28610,24210,79811,00111,927
13,29915,43016,43217,39318,678
19,05619, 070
Workin
process
10,7209,721
10,75612,31712,83712,29412,952
12,78013,21114,20514,99716,253
18,15221,99524,99227,50328,963
29,23328,626
Fin-ishedgoods
6,2066,040
6,3487,5658,1257,7498,143
9,1909,0569,6029,815
10,256
10,77612,36813,46414,07315,519
16,86316,703
Nondurable goods industries
Total
12,83613 88113 261
15,53918,31517,40518,07017,902
18,66420,19520,14319,97520,868
21,45422,43023,60824,23024,950
25,99428,15729,67531,76833,513
35, 32436, 394
Mate-rialsandsup-plies
8,3178,167
8,5568,9718,7758,6719,089
9,1139,4649,841
10,00310,185
10,48811,21011,72912,10312, 583
13,02613,382
Workin
process
2,4722,440
2,5712,7212,8642,8002,928
2,9353,1933,3043,4103,519
3,8234,2454,4124,8295,135
5,0555,215
Fin-ishedgoods
7,4097.415
7,6668,6228,6248,4988,857
9,3539,773
10,46310,81711,246
11,68312,70213, 53414,83615,795
17,24317,797
Seasonally adjusted
54,27854,63054,49953,79054,87655,440
55,38655,64455,07353,23552,56254,464
55,71856,98257,79057,68058,35258,988
58,41857,80457,89257,43959, 061
29,44529, 56129,24329,04829,93330,112
30,17630,48329,90028,15227,68029,185
30,16630,85631,61631,30831,85032,650
32,12331,46431, 54331,16632,106
24,83325,06925,25624,74224,94325,328
25,21025,16125,17325,08324,88225.279
25,55226,12626,17426,37226, 50226,338
26,29526,34026,34926, 27326, 955
97,12397,62497,91498,66798,55598,744
99,16499,32999, 576
100,282100,927100,476
100,878100,602100,502100,420100,647100,536
100,194100,063100, 266100, 740100, 793
63,56163,67163,92864,32364,15264,206
64,72064,91364,96565,21865,51765,152
65,30865,09065,08265,03365,07964,825
64,69264,52364,56364,49464,339
18,72718,79618,77118,67818,58518,597
18,65818,77118,82518, 86919,00619,056
19,10919,06118,99619,35919,57019,696
19,93219,70919,30619,10619,070
29,16229,13029,26329,50529,50229,511
29,69929,65929,62229,63629,66529,233
29,25428,94428,81128,59428,54728,329
28,17728,21428,53228,54128, 626
15,67215,74515,89416,14016,06516,098
16,36316,48316, 51816,71316,84616,863
16,94517, 08517,27517,08016,96216,800
16,58316,60016,72516,84716, 703
33,56233,95333,98634,34434,40334, 538
34,44434,41634,61135,06435,41035,324
35, 57035,51235,42035,38735,56835,711
35,50235, 54035,70336,24636,394
12,43112,54512,64812,66812, 58912,588
12,53912,51012, 52412,71812,87413,026
13,02413,01312,89712,92712,91813,058
12,98913,02713,04813,27113, 382
5,1805,1555,1165,1455,1745,174
5,1655,0635,0745,1195,1415,055
5,1165,0905,0925,0905,1555,143
5,1445,1085,1675,1885,215
15,95116,25316,22216,53116,64016,776
16,74016,84317,01317,22717,39517,243
17,43017,40917,43117,37017,49517,510
17,36917,40517,48817,78717,797
1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period, except as noted.3 Data prior to 1961 not completely comparable with later data. See Department of Commerce, Bureau of the Census,
"Series M3-1.1," September 1968.* Based on seasonally adjusted data through November.Source: Department of Commerce, Bureau of the Census.
245
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TABLE B-44.—Manufacturers' new and unfilled orders, 1947—71
[Amounts in millions of dollars]
New orders1
Year or monthTotal
1947 ....1948 ____1949
1950 ..1951 ....195219531954 ....
1955 .1956. . . .1957 . ....19581959
19601961 41962
1964
19651966196719681969
19701971 5
15,25617,69215,614
20,11023,90723,20323,53322,313
27,42328,38327,51426,90130,679
30,11531,08633,00535,32237,952
41,80345,91246, 70750, 50553, 768
53,86657,589
1970: JanFeb._Mar_.Apr..May_-June_
July__Aug.-Sept_OctNov..Dec.-
1971: Jan..Feb__Mar..Apr-May.June-
Ju ly . .Aug...Sept..Oct.—Nov
Durable goodsindustries
Total
6,3888,1266,633
10,16512,84112,06112,10510,743
14.95415,38114,07313,17015,951
15,22315,69917,02518,52120,258
22,98625, 69025, 46827,91929, 681
28, 77831,285
Pro-ducers'capitalgoodsindus-tries
Non-dura-
blegoodsindus-tries
2,0841,770
2,4992,8702,5662,3542,878
2,7912,8543,0903,4123,935
4,4355,2654,9585,3076,074
5,7946,353
8,8689,5668,981
9,94511,06611,14211,42811,570
12,46913,00213,44113,73114,728
14,89215,38715,98016,80117,694
18,81720,22221,23922, 58524, 087
25, 08826,304
Unfilled orders2
Total
34,41530,71724,506
43,05569,78575,64961,17848,266
60, 00467,37553,18348, 88254,494
46,13348, 39547,30750,94058, 506
68,14680,61583,50585, 80087, 320
80, 52777,888
Dura-ble
goodsindus-tries
28,53226,60120,018
36,83865,83572,48058,63745,250
56,24163,88050,35245,73950,654
43,40145,24144,48547,95855,623
64,92077, 54580,41682, 80584,379
77, 48574,776
Non-dura-ble
goodsindus-tries
5,8834,1164,488
6,2173,9503,1692,5413,016
3,7633,4952,8313,1433,840
2,7323,1542,8222,9822,883
3,2263,0703,0892,9952,941
3,0423,112
Unfilled orders-shipments ratio'
Total
3.42
3.633.873.352.602.85
2.582.522.462.402.49
2.622.912.812.762.65
2.46
Dura-ble
goodsindus-tries
Seasonally adjusted
4.12
4.274.554.003.493.44
3.213.012.952.892.99
3.123.493.363.343.20
2.97
Non-dura-ble
goodsindus-tries
54, 01453,72853,69852, 86754,22254, 902
55, 27254, 93253,56751,95152,46355, 468
57,25557,16557,69956,59757, 02857, 009
58, 25558, 08557,32257, 49059, 576
29, 23428, 64428, 45328, 09929,33029, 609
30, 07329, 74828, 35526, 77927, 56030,140
31,66631,07131,47230, 22830, 60130, 666
31,95531,75831,02631.12632, 564
6,1546,0155,5455,5265,6605,805
5,8985,6835,6145,8435,8715,925
6,4426,6176,2195,6776,1936,237
6,1466,5516,4256,8066,565
24,78025, 08425, 24524, 76824, 89225, 293
25,19925,18425,21225,17224, 90325,328
25,58926,09426, 22726,36926,42726,343
26,30026,32726, 29626, 36427, 012
87, 05686,15485, 35384, 43083, 77683,238
83,12482,41280, 90679, 62279,52380, 527
82, 06482, 24782, 15681,07379, 74977,775
77,61577, 89877, 32577,37577, 888
84,16883,25182,46181,51280, 90980, 406
80, 30379, 56878,02376, 65076,53077, 485
78,98579, 20079, 05677,97676, 72774, 748
74, 58474, 87974,36274,32374, 776
2,8882, 9032,8922,9182,8672,832
2,8212,8442,8832,9722,9933,042
3,0793,0473,1003,0973,0223,027
3,0313,0192,9633,0523,112
2.622.592.592.592.512.48
2.462.462.412.432.462.46
2.462.452.382.352.262.16
2.272.262.242.24
3.173.143.143.143.033.00
2.972.972.892.932.972.97
2.982.972.872.832.722.58
2.742.742.712.70
0.96
1.121.04.85.55
.63
.72
.65
.63
.57
.60
.56
.53
.47
.45
.46
0.43.43.43.44.43.42
.42
.43
.44
.45
.46
.46
.45
.44
.44
.45
.43
.43
.43
.42
.42
.43
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; excludes industries with no unfilled orders Annual
figures relate to seasonally adjusted data for December, except as noted.4 Data prior to 1961 not completely comparable with later data. Comparable data for new orders (total, durable, and non-
durable) are available for 1958, 1959. and 1960 only. See Department of Commerce, Bureau of the Census, "SeriesM3-1.1," September 1968, for these data.
5 Based on seasonally adjusted data through November.
Source: Department of Commerce, Bureau of the Census.
246
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PRICESTABLE B-45.—Consumer price indexes, by major groups, 1929—71
For urban wage earners and clerical workers
(1967 = 100]
Year or month
19291930193119321933 . . .1934193519361937193819391940194119421943 . .19441945 - .1946 .19471948 .1949 . . . . .19501951 . . .195219531954 . .1955195619571958 . .195919601961 . . -19621963 - .196419651966196719681969 _.1970 -19711970: Jan
FebMarAprMayJune . . . . . .July . .AugSeptOctNovDec
1971: JanFebMarApr . . . - . .MayJune . - -JulyAug_ . .SeptOctNovDec
Allitems
51.350.045.640.938.840.141.141.543.042.241.642.044.148.851.852.753.958.566.972.171.472.177.879.580.180.580.281.484.386.687.388.789.690.691.792.994.597.2
100.0104.2109.8116.3121.3113.3113.9114.5115.2115.7116.3116.7116.9117.5118.1118.5119.1119.2119.4119.8120.2120.8121.5121.8122.1122.2122.4122.6123.1
Food
48.345.937.831.530.634.136.536.938.435.634.635.238.445.150.349.650.758.170.676.673.574.582.884.383.082.881.682.284.988.587.188.089.189.991.292.494.499.1
100.0103 6108.9114.9118.4113.5114.1114.2114.6114.9115.2115.8115.9115.7115.5114.9115.3115.5115.9117.0117.8118.2119.2119.8120.0119.1118.9119.0120.3
Housing
Total
49.350.051.752.652.252.453.756.256.858.159.160.665.269.870.972.877.278.780.881.782.383.686.287.788.690.290.991.792.793.894.997.2
100.0104.2110.8118.9124.3114.7115.7116.9117.6118.2118.6119.2119.9120.6121.2121.9122.6122.7122.6122.4122.5123.2124.0124.5125.1125.5125.9126.4126.8
Rent
76.073.970.062.854.150.750.651.954.256.056.056.257.258.558.558.658.859.261.165.168.070.473.276.280.383.284.385.987.589.190.491.792.994.095.095.996.998.2
100.0102.4105.7110.1115.2107.9108.4108.8109.1109.4109.8110.1110.5110.9111.4111.8112.6112.9113.6113.9114.4114.7115.2115.4115.8116.1116.4116.6116.9
Appareland
upkeep
48.547.543.238.236.940.440.841.143.243.042.442.844.852.354.658.561.567.578.283.380.179.086.185.384.684.584.185.887.387.588.289.690.490.991.992.793.796.1
100.0105.4111.5116.1119.8113.4114.0114.6115.0115.7116.0115.3115.4117.2118.2119.0119.2117.6118.1118.6119.1120.2120.1119.3119.0120.6121.6121.9121.8
Trans-porta-tion
42.643.043.744.043.042.744.248.147.947.947.850.355.561.866.468.272.577.379.578.377.478.883.386.089.689.690.692.593.094.395.997.2
100.0103.2107.2112.7118.6109.8109.8109.7111.2112.1112.7113.4112.7113.0115.2116.0116.9117.5117.5117.8118.1118.8119.6119.5119.3118.6119.3118.8118.6
Medicalcare
36.136.336.636.736.736.837.038.039.941.142.144.448.151.152.753.756.359.361.463.464.867.269.973.276.479.181.483.585.687.389.593.4
100.0106.1113.4120.6128.4116.3117.1118.2119.1119.7120.5121.3122.0122.6122.8123.4124.2124.9125.8126.8127.5128.1128.6129.3130.0130.4129.6129.7130.1
Personalcare
36.937.439.640.440.340.241.245.249.953.455.159.066.068.568.368.374.775.676.376.677.981.184.186.988.790.190.692.293.494.595.297.1
100.0104.2109.3113.2116.8111.3111.7112.2112.4112.8112.7113.1113.7114.0114.4114.5115.0115.3115.4115.8116.3116.5116.8117.1117.5117.6117.9117.9117.9
Readingand
recrea-tion
41.842.543.745.245.346.147.750.054.160.062.464.568.772.274.974.476.676.977.776.976.777.880.783.985.387.389.391.392.895.095.997.5
100.0104.7108.7113.4119.3110.8110.9111.2111.9112.6113.3113.7114.2114.7115.2116.0116.2117.3117.5117.7118.4118.9119.3119.6119.7120.5120.5120.8121.1
Othergoodsand
services
44.644.545.746.146.948.349.250.753.354.756.958.863.866.868.769.972.876.678.579.879.881.083.384.486.187.888.589.190.692.094.297.2
100.0104.6109.1116.0120.9113.3113.6114.0114.7115.1115.7116.2116.8117.4118.0118.3118.5118.9119.1119.4119.7119.9120.3121.2121.8122.4122.6122.8123.0
Source: Department of Labor, Bureau of Labor Statistics.
247
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-46.—Consumer price indexes, by special groups, 1935-71
For urban wage earners and clerical workers(1967=100]
Year ormonth
19351936193719381939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
19701971
1970: Jan.. .Feb..Mar__.Apr..May..June..
July...Aug__.Sept..Oct...Nov...Dec...
1971: Jan.Feb .Mar...Apr...May..June..
July..Aug..Sept..Oct..Nov..Dec...
Allitems
41.141.543.042.241.6
42.044.148.851.852.753.958.566.972.171.4
72.177.879.580.180.580.281.484.386.687.3
88.789.690.691.792.994.597.2
100.0104.2109.8
116.3121.3
113.3113.9114.5115.2115.7116.3
116.7116.9117.5118.1118.5119.1
119.2119.4119.8120.2120.8121.5
121.8122.1122.2122.4122.6123.1
Allitemslessfood
44.945.447.047.547.2
47.348.752.153.655.756.959.464.969.670.3
71.175.777.579.079.579.781.183.885.787.3
89.790.892.093.294.596.7
100.0104.4110.1
116.7122.1
113.3113.9114.6115.4116.0116.5
117.0117.2118.0118.9119.6120.2
120.3120.4120.6120.9121.6122.2
122.4122.7123.1123.5123.7123.9
Allitemslessshel-ter
39.840.341.640.439.7
39.942.447.751.352.253.659.068.573.972.6
73.179.280.881.081.080.681.784.486.987.6
88.989.990.992.193.294.697.4
100.0104.1109.0
114.4119.3
112.0112.4112.8113.5114.0114.4
114.8114.9115.4116.0116.3116.8
117.0117.4118.0118.6119.2119.8
120.0120.2120.2120.3120.4120.9
Commodities
Allcom-modi-ties
40.541.042.641.040.2
40.643.349.654.054.756.362.475.080.478.3
78.885.987.086.785.985.185.988.690.690.7
91.592.092.893.694.695.798.2
100.0103.7108.4
113.5117.4
111.2111.7112.0112.6113.1113.5
113.8113.8114.2114.8115.1115.6
115.4115.5116.1116.6117.2117.9
118.1118.2118.1118.4118.5118.9
Food
36.536.938.435.634.6
35.238.445.150.349.650.758.170.676.673.5
74.582.884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1100.0103.6108.9
114.9118.4
113.5114.1114.2114.6114.9115.2
115.8115.9115.7115.5114.9115.3
115.5115.9117.0117.8118.2119.2
119.8120.0119.1118.9119.0120.3
Commodities less food
All
46.046.548.548.547.7
48.050.456.058.461.664.168.176.882.781.5
81.487.588.388.587.586.987.890.591.592.7
93.193.494.194.895.696.297.5
100.0103.7108.1
112.5116.8
110.0110.3110.6111.4112.0112.5
112.5112.6113.4114.5115.1115.5
115.2115.2115.5115.8116.6117.1
117.0117.1117.4118.0118.1118.1
Dura-ble
45.245.848.749.648.5
48.151.458.460.365.970.974.180.386.287.4
88.495.196.495.793.391.591.594.495.997.3
96.796.697.697.998.898.498.5
100.0103.1107.0
111.8116.5
109.0109.0109.4110.1111.1111.9
112.1112.2112.5113.9114.7115.2
115.2115.0115.2115.7116.6117.4
117.5116.9116.4117.1117.4117.2
Non-dura-
ble
43.143.545.345.044.3
44.746.751.653.856.658.662.972.277.876.3
76.282.082.483.183.583.585.387.688.289.3
90.791.291.892.793.594.897.0
100.0104.1108.8
113.1117.0
110.7111.2111.5112.3112.7112.9
113.0113.0114.1114.9115.4115.7
115.3115.4115.7116.0116.6116.9
116.7117.2118.2118.7118.7118.8
Totalnon-dura-ble
Allservices
39.039.641.139.238.4
38.941.647.651.852.253.759.671.977.274.9
75.482.583.483.283.282.583.786.388.688.2
89.490.290.992.093.094.698.1
100.0103.9108.9
114.0117.7
112.1112.6112.9113.4113.9114.0
114.4114.5114.9115.2115.3115.6
115.4115.7116.4116.9117.4118.1
118.3118.6118.7118.8118.9119.5
Services
40.941.342.643.443.5
43.644.245.646.447.548.249.151.154.356.9
58.761.864.567.369.570.972.775.678.580.8
83.585.286.888.590.292.295.8
100.0105.2112.5
121.6128.4
117.1118.0119.3120.1120.7121.4
122.0122.7123.5124.1124.9125.6
126.3126.6126.6126.8127.5128.2
128.8129.4129.8130.0130.4130.8
Rent
50.651.954.256.056.0
56 257.258.558.558.658.859.261.165.168.0
70.473.276.280.383.284.385.987.589.190.4
91.792.994.095.095.996.998.2100.0102.4105.7
110.1115.2
107.9108.4108.8109.1109.4109.8
110.1110.5110.9111.4111.8112.6
112.9113.6113.9114.4114.7115.2
115.4115.8116.1116.4116.6116.9
Allserv-iceslessrent
37.637.437.838.138.1
38.138.640.342.144.245.146.749.051.954.5
56.059.362.264.866.768.270.173.376.479.0
81.983.985.587.389.291.595.3
100.0105.7113.8
123.7130.9
118.8119.8121.2122.1122.8123.5
124.2124.9125.8126.5127.3128.0
128.7129.0128.9129.1129.8130.6
131.2131.9132.3132.5132.9133.3
Source: Department of Labor, Bureau of Labor Statistics.
248
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-47.—Consumer price indexes, selected commodities and services, 1935-71
For urban wage earners and clerical workers(1967 = 1001
Year ormonth
1935 . . . .19361937..19381939
194019411942 . . .1943194419451946194719481949
19501951 . . .1952..19531954 . . . .19551956 .195719581959.. .
1960 .1961 . . . .1962196319641965..1966..196719681969 .
1970 . .1971
1970: J a n . . .F e b . . .Mar...Apr. . .May...June. .
July...Aug. . .Sep t . .Oct . . .Nov. . .D e c - .
1971: J a n . . .Feb . .Mar...
May'."June. .
July...A u g . -so e
cf!::Nov...Dec...
Durable commodities
Total »
45.245.848.749.648.5
48.151.458.460.365.970.974 180.386 287.4
88.495.196.495.793.391.591.594.495.997.3
96.796.697.697.998.898.498.5
100.0103.1107.0
111.8116.5
109.0109.0109.4110.1111.1111.9
112.1112.2112.5113.9114.7115.2
115.2115.0115.2115.7116.6117.4
117.5116.9116.4117.1117.4117.2
Newcars
41.141.442.244.243.2
43.346.6
69.275 682.8
83.487.494.995.894.390.993.598.4
101.5105.9
104.5104.5104.1103.5103.2100.999.1
100.0102.8104.4
107.6112.0
106.7106.6106.4106.3106.1105.8
105.7105.5105.1110.8112.5114.1
115.4115.2114.3113.8113.9113.9
113.8109.3105.6109.1109.6110.4
Usedcars
89.275.971.869.177.480.289.5
83.686.994.896.0
100.199.497.0
100.0
104.3110.2
99.397.096.899.7
104.9108.6
108.5106.3104.9107.2108.8109.5
107.0105.5106.8109.8112.8114.1
113.5112.5111.6111.7110.2107.2
House-holddura-bles
52.153.157.757.756.6
55.959 866 969.576.081.886.595.6
101.799.0
100.2109.8106.9105.7102.9100.199.7
101.4102.1102.0
101.9100.7100.6100.3100.298.798.6
100.0103.3107.4
110.2112.9
108.6108.9109.4109.8110.0110.2
110.3110.4110.6111.0111.4111.5
111.5111 8112.1112.4112.7113.1
113.2113.4113.5113.6113.6113.7
Housefur-nish-ings
47.648.452.452.050.9
50.554.061.463.168.673.380.092.798.394.9
95.5106.0103.4102.9101.199.298.199.799.099.0
99.398.798.197.797.697.198.0
100.0103.9108.1
111.4114.3
109.6110.2110.8111.1111.3111.5
111.6111.5111.8112.2112.7112.9
112.7113.2113.5114.0114.1114.7
114.7114.8114.9115.1115.1115.3
Nondurable commod-ities less food
Total
43.143.545.345.044.3
44.746.751.653.856.658.662.972.277.876.3
76.282.082.483.183.583.585.387.688.289.3
90.791.291.892.793.594.897.0
100.0104.1108.8
113.1117.0
110.7111.2111.5112.3112.7112.9
113.0113.0114.1114.9115.4115.7
115.3115.4115.7116.0116.6116.9
116.7117.2118.2118.7118.7118.8
Apparelcom-mod-ities
41.341.844.143.743.0
43.545.853.555.959.863.069.580.485.482.0
81.188.787.786.786.385.887.388.288.289.0
90.390.891.292.092.893.696.0
100.0105.6111.9
116.5120.1
113.8114.4115.0115.4116.1116.3
115.5115.6117.7118.8119.6119.6
117.8118.3118.8119.3120.5120.4
119.5119.1120.9122.0122.4122.2
Non-dura-bleslessfoodand
apparel
45.445.947.046.946.3
46.848.451.153.254.755.858.266.272.372.4
72.977.579.081.081.882.184.187.488.389.6
90.991.392.193.193.995.597.5
100.0103.3107.0
111.2115.2
108.9109.4109.5110.5110.8111.0
111.6111.6112.0112.6113.0113.5
113.8113.8114.0114.0114.3114.9
115.1116.2116.6116.8116.5116.8
Services less rent
Total
37.637.437.838.138.1
38.138.640.342.144.245.146.749.051.954.5
56.059.362.264.866.768.270.173.376.479.0
81.983.985.587.389.291.595.3
100.0105.7113.8
123.7130.9
118.8119.8121.2122.1122.8123.5
124.2124.9125.8126.5127.3128.0
128.7129.0128.9129.1129.8130.6
131.2131.9132.3132.5132.9133.3
House-holdserv-iceslessrent
71.275.479.481.6
85.086.087.189.090.492.195.7
100.0105.9115.3
126.8132.6
120.6122.0124.2125.3126.0126.5
127.2128.1129.1129.8130.7131.6
131.6131 0130.1129.7130.7131.6
132.5133.6134.2134.7135.4136.1
Trans-porta-tion
serv-ices
36.336 035.736.036 1
36.136.338.238.238.238.239.040.344.950.0
53 358.362.466 469.269 470.573.878.581.2
83.385.386.687.589.692.996.8
100.0104.0111.3
123.1133.1
119.1120.0120.3121.1121.6122.4
123.5123.8124.8125.9126.9127.5
129.5131.3132.0133.0133.1134.1
134.3134.1133.8133.9134.0134.2
Med-icalcareserv-ices
31.831 932.332.432 5
32.532.733.735.436.937.940.143.546.448.1
49 251.755.057 058.760 462.865.568.772.0
74.977.780.282.684.687.392.0
100.0107.3116.0
124.2133.3
119.4120.3121.6122.5123.1124.0
124.9125.8126.5126.7127.5128.5
129.3130.2131.4132.2132.9133.5
134.4135.1135.6134.6134.8135.3
Other*
71.173.976.278.0
80.883.485.687.790.192.696.2
100.0105.6110.6
116.7122.5
113.6113.9114.3115.1115.8116.7
117.0117.5118.1118.8119.1119.5
120.7120.9121.2121.5122.0122.5
122.6122.8123.7123.8124.0124.1
1 Includes certain items not shown separately.2 Includes the services components of apparel, personal care, reading and recreation, and other goods and services.3 Not available.Source: Department of Labor, Bureau of Labor Statistics.
249
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-48.— Wholesale price indexes, by major commodity groups, 1929-71[1967 = 100J
Year or month
1929 _
1930 _19311932 _1933.1934.1935.1936.1937.1938.1939.
1940.1941.19421943.1944.19451946.1947.1948.1949.
1950..1951.1952.1953.1954.1955..1956..1957..1958..1959..
I960 . .1961. .1962. .1963 . .1964. .1965. .1966. .1967. .1968. .1969_.
1970. .1971. .
1970: Jan...Feb..Mar..Apr..May..June.
July..Aug..Sept..Oct...Nov..D e c .
1971: Jan...Feb..Mar..Apr. .May..June.
July..Aug._Sept..Oct...Nov..D e c .
All com-modities
49.1
44.637.633.634.038.641.341.744.540.539.8
40.545.150.953.353.654.662.376.582.878.7
81.891.188.687.487.687.890.793.394.694.8
94.994.594.894.594.796.699.8
100.0102.5106.5
110.4113.9
109.3109.7109.9109.9110.1110.3
110.9110.5111.0111.0110.9111.0
111.8112.8113.0113.3113.8114.3
114.6114.9114.5114.4114.5115.4
Farmproducts
64.1
54.239.729.531.440.048.149.552.942.040.0
41.450.364.875.075.578.590.9
109.4117.5101.6
106.7124.2117.2106.2104.798.296.999.5
103.997.5
97.296.398.096.094.698.7
105.9100.0102.5109.1
111.0112.9
112.8114.0114.6111.6111.3111.6
113.4108.5112.1107.8107.0107.1
108.9113.9113.0113.0114.0116.0
113.4113.2110.5111.3112.2115.8
Processedfoods and
feeds
82.988.780.6
83.492.791.687.488.985.084.987.491.889.4
89.591.091.992.592.395.5
101.2100.0102.2107.3
112.0114.3
112.0112.1111.8111.8111.1111.7
113.3112.9113.0111.8111.7110.7
111.8113.3113.7113.5114.5114.9
116.0115.4114.6114.1114.4115.9
Industrial commodities
Total
48.6
45.239.937.337.41.641.442.245.243.443.3
44.047.350.751.552.353.058.070.876.975.3
78.086.184.184.885.086.990.893.393.695.3
95.394.894.894.795.296.498.5
100.0102.5106.0
110.0114.0
108.3108.7108.9109.3109.7109.8
110.0110.2110.4111.3111.3111.7
112.2112.5112.8113.3113.7113.9
114.5115.1115.0115.0114.9115.3
Textileproducts
andapparel
103.6108.198.9
102.7114.6103.4100.898.698.798.798.897.098.4
99.597.798.698.599.299.8
100.1100.0103.7106.0
107.2108.6
107.4107.3107.4107.2107.2107.2
107.1107.4107.5107.3107.1106.7
106.9106.7106.9107.5107.8108.5
109.2109.7109.7109.6109.8110.6
Hides,skins,
leather,and
relatedproducts
48.9
44.938.632.836.338.840.242.746.941.642.8
45.248.452.852.752.252.961.183.384.279.9
86.399.180.181.377.677.381.982.082.994.2
90.891.792.790.090.394.3
103.4100.0103.2108.9
110.1114.0
109.3109.4109.5111.0110.4109.9
109.8109.8109.9110.4110.9110.4
111.7112.4112.5114.0114.4114.2
114.2114.4114.7114.7115.1116.2
Fuels andrelated
products,~nd
power
59.4
56.248.350.347.652.452.654.555.554.652.3
51.454.656.257.859.560.164.476.990.586.2
87.190.390.192.691.391.294.099.195.395.3
96.197.296.796.393.795.597.8
100.098.9
100.9
105.9114.2
101.9102.7102.6103.8105.3104.8
105.1105.8107.1108.7109.7112.8
113.5113.0112.8113.0114.2114.4
114.4114.8115.3114.8114.7115.0
Chemicalsand alliedproducts
47.449.651.752.054.551.851.5
52.457.063.364.164.865.270.593.795.987.6
88.9101.796.597.798.998.599.1
101.2102.0101.6
101.8100.799.197.998.399.099.4
100.099.899.9
102.2104.2
100.7101.1101.6102.0102.2102.1
102.5102.7102.5103.0103.3103.3
103.8104.2104.5104.5104.3104.4
104.4104.3104.3104.2103.8103.4
See footnotes at end of table.
250
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-48.- -Wholesale price indexes, by major commodity groups, 1929—71—Continued[1967=1001
Year or month
1929
1930193119321933 . .193419351936 . , .193719381939
1940 . .19411942 .1943194419451946 . .1947.. .19481949
195019511952 . . . .195319541955 .1956195719581959- .1960196119621963.196419651966196719681969 .
197019711970: Jan
FebMar...AprMay . .JuneJulyAug...SeptOctNov .D e c .
1971: Jan... .FebMarAprMayJune
JulyAug...SeptOctNov _. . .Dec
Rubberand
plasticproducts
59.4
52.044 238 340 247 047 351 060 058.961.2
57.161 571 673.672.770 570 870.572.870.5
85.9105 495.589.190 4
102.4103.8103.4103 3102.9
103.199 296.396.895 595 997.8
100.0103.4105.3108.6109.2
108.0107.9107.7107.5107.5107.4
109.0109.7109.4109 5109.1109.4
108.4109.1109.1109.0108.7108.7
109.7109.8109.7109.5109.5109.4
Lumberand
woodproducts
25.0
22.918.616.019.022 321.422.426 524.124.8
27.432 735.637.740.641 247 273.484.077.7
89.397 294.494.392 697.198.593.592 498.895.391 091.693.595 495 9
100.2100.0113.3125.3113.7127.0
115.4114.0113.4113.9114.8114.0
113.5114.0114.2113 1111.9111.1
112.2117.5123.4124.6124.9126.1
130.6134.6134.3131.8131.3132.7
Pulp,paper,and
alliedproducts
72.575.772.4
74.388 085.785.585 587.893.695.496 497.3
98.195 296.395.695 496 298.8
100.0101.1104.0108.2110.1
107.0107.7108.0108.4108.2108.1
108.4108.2108.3108 9108.7108.5
109.0109.3109.3109.6109.9110.2
110.5110.6110.6110.6110.6110.7
ndustrial commodities—Continued
Metalsand
metalproducts
40.2
36.232.629.930.733.933.834.539.438.037.6
37.838 539.139.039.039 644.354.962.563.0
66.373.873.976.376.982.189.291.090 492.3
92.491 991.291.393 896.498.8
100.0102.6108.5
116.7119.0
114.0115.1115.9116.6117.4117.8
117.7117.5117.4117 7116.8116.2
116.5116.4116.5117.8118.5118.5
119.4121.1121.1121.0120.9120.8
Machin-ery andequip-ment
41.3
41.442.142.842.442.142.246.453.758.261.0
63.170.570.672.273 475.781.887.689.491.392.091.992.092.292 893 996.8
100.0103.2106.5
111.4115.5
109.6109.8110.1110.4110.6111.0
111.5111.6112.1112 7113.1113.8
114.2114.6114.9115.0115.3115.5
115.7116.1116.0116.0115.9116.2
Furni-ture andhouse-hold
durables
55.8
54.950.544.544.648.548.148.854.152.852.6
53.857 261.861.463.163.267 177.081.682.9
84.791 890.191.992 993.395.898.399 199.399.098 497.797.097 496 998.0
100 0102.8104.9
107.5109.9
106.3106.7106.9107.1107.1107.4
107.6107.7107.8108 0108.4108.7
109.3109.7109.6109.7109.9109.8
110.0110.2110.2110.2110.2110.2
Nonme-tallic
mineralproducts
51.2
51.047.744.647.250.450.450.551.750.049.1
49.150.252.352.453.555.759.366.371.673.5
75.480.180.183.385.187.591.394.895.897.0
97.297.697.697.197.397.598.4
100.0103.7107.7113.3122.4
111.7112.1112.5112.9113.0113.0
113.2113.6113.8114.2114.6115.1
118.8119.0120.9121.6121.8122.2
123.3124.2124.2124.1124.0124.2
Trans-portation
equip-ment:Motor
vehiclesand
equip-ment i
41.9
39.437 536.534.836.735 234.937.439.939.1
40.443 247.247.247.548.356.064.170.875.7
75.379.484.083.683.886.391.295.198.1
100.3
98.898.698.697.898 398.598.6
100.0102.8104.8108.5114.7
106.8106.8107.0106.9107.0107.1
107.0107.1107.3I P . 5112.8113.4
113.9114.1113.8114.1114.2114.4
114.7114.9113.8115.2115.3117.5
Miscel-laneous
products
73.576.578.0
79.283.983.485.686.486.587.690.292.092.2
93.093.393.794.595.295.997.7
100.0102.2105.2
109.9112.8
107.4107.5107.8107.8108.1110.7
111.1111.2111.5111.6111.8111.9
112.3112.6112.8112.7112.5112.6
112.8113.0113.0113.0113.1113.2
i Index for total transportation equipment is not shown but is available beginning December 1968.Source: Department of Labor, Bureau of Labor Statistics.
251
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.— Wholesale price indexes, by stage of processing, 1947-71
[1967=100]
Year or month
1947...1948...1949...
1950 .1951...195219531954. .
195519561957 .19581959
196019611962 .19631964...
19651966196719681969 . .
19701971
1970: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1971: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allcom-modi-ties
76.582.878.7
81.891.188.687.487.6
87.890.793.394.694.8
94.994.594.894.594.7
96.699.8
100.0102.5106.5
110.4113.9
109.3109.7109.9109.9110.1110.3
110.9110.5111.0111.0110.9111.0
111.8112.8113.0113.3113.8114.3
114.6114.9114.5114.4114.5115.4
Crude materials
Total
101.2110.996.0
104.6120.1110.3101.9101.0
97.197.699.8
102.099.4
97.096.597.595.494.5
99.3105.7100.0101.6108.3
112.2115.0
111.1113.5114.7113.9113.3113.5
114.3111.3113.0111.3108.7108.6
110.7115.9114.3115.2115.8116.9
116.6115.2113.9114.3114.3117.0
Food-stuffsand
feed-stuffs
111.7120.8100.3
107.6124.5117.2104.9104.9
95.193.197.2
103.096.2
95.193.895.792.990.8
97.1105.9100.0101.3109.1
112 1114.2
111.6114.1115.9113.9113.0113.4
115.2111.1113.0110.1106.9106.3
108.9116.4114.0114.4115.4117.1
116.6114.5112.1112.6112.7115.8
Non-foodmate-rials,
exceptfuel
90.6100.791.6
104.7120.7104.6100.198.2
103 8107 6106.2102.2105 8
101 4102 5102.0100.7102.4
104.5106 7100.0102.1106.8
109 8110.5
110.3111.9111.6112.0111.9110.9
109.3108.5108.8108.5106.7107.7
108.9109.8109.4110.6110.3110.1
110.4110.2111.1111.1111.1112.8
Fuel
66.678.778.3
77.979.479.982.779.0
78.884.489.290.391.9
92.892.692.193.292.8
93.596.3
100.0102.3106.4
122.3138.5
110.6112.9113.3119.0119.3121.6
123.0123.9126.4132.3132.0132.9
134.4133.4134.5138.5139.0139.4
139.7139.3140.3140.6140.6142.7
Intermediate materials, supplies, and components1
Total
72.478.375.2
78.688.185.586.086.5
88 192.094.194.395.6
95.695.094.995.295.5
96.899.2
100.0102.3105.9
109.8114.0
108.3108.6108.7109.2109.6109.8
110.2110.4110.6110.9110.9111.0
111.5111.8112.6113.1113.6114.0
114.8115.6115.4115.0115.0115.4
Materials and components formanufacturing
Total
72.177.874.5
78.188.584.886.286.3
88.492.694.895.296.5
96.595.394.794.995.9
97.499.3
100.0102.2105.8
110.0113.0
108.5108.8109.3109.8110.1110.2
110.5110.6110.5110.8110.6110.3
110.6110.9111.4112.1112.6112.8
113.6114.6114.4114.2114.2114.4
Materials
For foodmanu-factur-
ing
94.096.983.3
86.796.692.993.092.2
89.389.791.393.490.0
91.194.092.-9b. b95.2
97.6101.9100.0101.5107.1
112.9116.2
110.9111.3112.5113.0112.2112.6
113.8113.7113.6114.0114.5112.5
113.2114.9115.5115.2116.2116.3
117.5118.3117.1116.6116.8117.3
Fornon-
durablemanu-factur-
ing
95.2100.891.9
96.5111.8100.699.898.2
98.6100.1101.4100.4102.1
102.199.999.398.499.1
100.0100.8100.0101.3102.4
104.0105.6
103.6103.6103.7104.1104.2103.7
104.0104.2103.9104.1103.9104.0
104.0104.4104.8105.4105.5105.9
106.1106.3106.2105.9105.9106.3
Fordurablemanu-factur-
ing
54.461.463.1
66.774.174.377.679.3
83.388.591.492.094.2
94.393.092.993.094.8
96.898.6
100.0103.3109.1
115.1118.8
113.0113.5114.2115.2116.0116.2
116.1115.9115.4115.6115.0114.3
114.7114.8115.9117.2118.0118.1
119.6121.7121.6121.4121.2121.0
Com-ponents
58.363.064.2
66.675.675 777.177.5
80.988.391.892.593.6
93.192.291.591.592.3
93.897.1
100.0102.3105.6
111.1114.7
109.0109.3109.5109.9110.2110.8
111.4111.9112.6113.0113.0113.3
113.6113.6113.6113.8114.1114.5
114.9115.5115.6115.4115.6115.8
Mate-
andcom-
ponentsfor con-struc-tion
66.073.173.2
77.084.383.785.185.5
88.993.594.094.096.6
95.994.694.294.595.4
96.298.8
100.0104.9110.9
112.6119.5
111.3111.3111.7112.1112.5112.8
113.0113.5113.6113.6113.1113.1
114.1115.4117.3118.0118.5119.2
120.8122.5122.5121.9121.8122.3
See footnotes at end of table.
252
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.— Wholesale price indexes, by stage of processing, 1947-71—Continued
11867 = 100]
Year or month
194719481949 .
19501951 __|1952 __|19531954
19551956195719581959
I960..1961196219631964 . . . . . . . .
19651966196719681969
19701971
1970:JanFebMarAprMay.June . .
July .Aug -. .-SeptOct .NovDec
1971- JanFeb .MarAprMayJune .-
JulyAugSeptOctNovDec - -
Total
74.079.977.6
79.086.586.085.185.3
85.587.991.193.293.0
93.793.794.093.794.1
95.798.8
100.0102.9106.6
110.4113.5
109.8109.8110.0109.6109.7110.0
110.6110.1110.8110.9111.4111.5
112.2112.8112.9112.9113.5113.8
113.8114.1113 6113.8114.0115.0
Finisheci goods
Consumer finished goods
Total
80 586.582.5
83.991.890.789.289.1
88.589.892.494.493..6
94.594.394.694.194.3
96.199.4
100.0102.7106.5
109.9112.7
109.6109.6109.7109.2109.3109.6
110.3109.5110.4110.1110.5110.5
111.3112.0112.1112.0112.7113.1
113.0113.3112.7112 9113.1114.2
Foods
82.890.483.1
84.795.294.389.488.7
86.586.389.394.590.1
92.191.792.591.491.9
95.4101.6100.0103.7110.0
113.4115.2
115.4115.0115.1113.3112.9113.4
115.0112.6114.2111.3112.0111.0
112.3113.9114.6114.5115.6116.4
115.6116.1114.9115.0115.7117.7
Othernon-
durablegoods
80.785.882.3
83.690.087.888.688.9
89.491.193.292.694.0
94.794.794.895.194.8
95.997.8
100.0102.2105.0
108.2111.3
106.5106.9107.0107.2107.8108.1
108.2108.6109.0109.2109.5110.4
110.9110.8110.7110.5111.0111.2
111.6111.8111.9111.7111.7111.8
Du-rablegoods
74.679 781.8
82.788.288.989.690.3
91.294.397.198.499.6
99.298.898.397.898.2
97.998.5
100.0102.2104.0
107.1110.9
105.6105.8106.0106.0106.2106.3
106.5106.5106.6109.7109.9109.9
110.5110.8110.4110.5110.7110.7
111.0111.1110.4111.3111.3112.6
I
Pro-ducer
finishedgoods
55.460.463.4
64.971.272.473.674.5
76.782.487.589.891.5
91.791.892.292.493.3
94.496.8
100.0103.5106.9
111.9116.6
110.1110.3110.7110.8111.1111.3
111.6111.9112.3113.8114.2115.1
115.6115.9116.0116.1116.3116.5
116.8117.1116.9117.1117.0117.8
Special groups of industrialproducts
Crudemate-rials 2
79.292 584.0
93.6102.993.192.488.0
96.6102.3100.996.9
102.3
98.397.295.694.397.1
100.9104.5100.0102.0110.6
118.8122.7
116.0118.5118.5120.3120.0119.5
118.0117.2118.7120.6118.2119.8
121.4121.8121.4124.1123.5122.8
122.7122.3123.0122.9122.6123.4
Inter-mediate
materials,supplies,and com-ponents 3
70.076 174.2
77.787.084.385.385.7
88.392.695.094.896.4
96.895.595.395.095.6
96.998.9
100.0102.6106.2
110.0114.3
108.3108.7109.0109.4109.9110.1
110.3110.5110.7111.0111.0111.0
111.5112.0112.7113.3113.8114.1
114.9115.9115.9115.7115.6115.8
Con-sumer
finishedgoods ex-
cludingfoods
79.084 082.2
83.589.588.389.189.4
90 192.394.694.795.9
96.396.296.096.095.9
96.698.1
100.0102.1104.6
107.7111.2
106.2106.4106.6106.7107.1107.3
107.5107.7108.0109.4109.6110.2
110.7110.8110.6110.5110.9111.0
111.4111.5111.3111.6111.6112.1
* 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 Price
Indexes," January-February 1967.
Source: Department of Labor, Bureau of Labor Statistics.
253
451-688 0—72- -17
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.~—Percentage changes from previous month in indexes for major groupings of theconsumer price index, 1968-71
[Percent]
Year and month
1968: Jan.FebMar.AprMayJune
JulyAugSeptOctNov. . .Dec
1969: JanFebMar..AprMayJune
JulyAugSept.Oct .NnvDec
1970: JanFeb .Mar . . . . _.AprMayJune . . .
JulyAug.. . . . .Sept -Oct 'Nov..Dec
1971: JanFebMarApr . . .MayJune.
JulyAugSeptOctNovDec
All items
Un-adjusted
0.4.3.5.3.3.6
.5
.3
.3
.6
. 4
.3
.3
.4
.8
.6
.3
.6
.5
.5
.5
.4
.5
.6
.4
.5
.5
.6
.4
.5
.3
.2
.5
.5
.3
.5
. 1
.2
.3
.3
.5
.6
.2
. 2
. 1
. 2
.2
.4
Season-ally
adjusted
0.6.3.4.2.3.5
.4
.4
.3
.5
.4
.3
.5
.4
.7
.6
.3
.5
. 4
.5
.5
.3
.6
.6
.5
. 6
.4
.5
.5
.4
.3
.3
.5
.5
.3
.5
3.2
2.3.6
. 2
.3
. 1
. 1
.2
.4
Food
Un-adjusted
0.7.3.4. 4.4.3
.8
.4- . 1
.4- . 3
.6
7- . 1
.5
.6
.51.4
1.0.5.13
.71.4
.6
.5
.1
.4
.3
.3
. 5
. 1- . 2- . 2- . 5
. 3
. 2
.3
.9
.7
.3
.8
.5
. 2- . 8- . 2
.11.1
Season-ally
adjusted
0.6.3.5.4.5
.3
.3
.4
.6
.3
.2
.5
.0
.6
.6
.61.0
.5
.5
.6- . 11.41.0
.4
.7
.1
.4
.2- . 1
. 1
.0
.3
.0
.1- . 1
.0
.5
.9
.9
. 2
.5
. 1
. 1- . 3
.0
.7
Commodities less food
Un-adjusted
0.1.3.4. 2.3.5
.2
.2
.4
.7
.6- . 1
- 2.7.9.3.3
.1
.0
.5
.9
.4
.1
- . 2.3.3.7.5. 4
.0
.1
.71.0.5.3
- . 3.0.3.3.7.4
- . 1. 1.3.5.1.0
Season-ally
adjusted
0.5.3. 3. 1.3.5
.3
.4
. 2
.3
.4
.2
.3
.6
.8
.2
.3
.4
. 3
. 2
. 3
.5
.3
.4
. 3
. 2
.2
. 6
.5
.4
. 2
.3
.5
.4
.4
.7
. 2
.2
. 2
.7
.3
!3. 0. 0.0.3
Servicesl
Un-adjusted
0.5.4. 6.4.4.7
.7
.5
.4
.5
. 6
.5
.6
.6
.8
.8
.4
.4
.5
.6
.7
.3
.5
.7
.9
.81.1.7.5.6
.5
.6
.7
.5
.6
.6
.6
.2
.0
.2
. 6
.5
.5
.5
.3
.2
.3
.3
1 Percentage changes for services are based on unadjusted indexes since these prices have little seasonal movement.
Note.—The seasonally adjusted changes for the all items index are based on seasonal adjustment factors and seasonallyadjusted indexes carried to two decimal places.
Source: Department of Labor, Bureau of Labor Statistics.
254
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-51.—Percentage changes from previous month in indexes for major groupings of thewholesale price index, 1968—71
(Percentl
Year and month
1968: Jan.Feb.Mar.Apr-May.June
July.Aug.Sept.Oct..NovDec.
1969: Jan..Feb..Mar..Apr_.May_.June.
July..Aug._Sept.Oct..Nov..Dec .
1970: Jan..Feb_.Mar..Apr..May..June.
July..Aug..Sept.Oct_.Nov..Dec .
1971: Jan..Feb..Mar..Apr_.May..June.
July..Aug..Sept.Oct__Nov..Dec .
All commodities
Unad-justed
0.3.8.2.0.3.1
.3- . 3
.4
.0
.4
.3
.7
.5
.6
.1
.8
.5
.2- . 1
.2
.3
.7
.6
.4
.2
.0
.2
.2
.5- . 4
.5
.0- . 1
.1
.7
.9
.2
.3
.4
.4
.3
.3- . 3- . 1
.1
Season-ally
adjusted
0.0.6.3.2.2
- . 0
.2
.1
.4
.2
.4
.2
.4
.3
.7
.3
.6
.4
.1
.3
.1
.5
.7
.4
.3
.2
.2
.2
.0
.1
.5
.1
.4
.2- . 1
.0
.4
.8
.2
.5
.3
.4
.2
.7- . 4
.1
.1
.7
Farm productsand processed
foods andfeeds
Unad-justed
0.51.4.1
i
L2.1
1.2- 1 . 4
.6- 1 . 0
.9
.1
1.4.2.6.2
3.01.3
.2- 1 . 3- . 2
.01.2.7
1.4.4.1
- 1 . 05'.4
1.5- 1 . 9
1.3- 2 . 0- . 4- . 5
1.32.6
- . 2- . 1
.91.0
- . 3- . 3
- 1 . 4.0.5
2.0
Season-ally
adjusted
- 0 . 31.2.5.4.5
- . 9
.0
.4
.01.1
- . 1
.5
.0
.9
.82.3.5
- . 3.2
- . 51.21.3.6
.4
.3
.3- . 4
- 1 . 5- . 2
- . 2.9
-j
-A- . 5
.22.5.0.5
- . 2.4
- 1 . 01.4
- 1 . 71.4.3
2.1
Farm products
Unad-justed
0.12.2.8.0
1.6- 1 . 2
1.4- 2 . 4
1.4- 1 . 6
2.0.2
1.5.2
1.4- . 74.7.5
- . 4- 2 . 1
- ! 63.0
.9
.41.1.5
- 2 . 6- . 3
.3
1.6- 4 . 3
3.3- 3 . 8- . 7
.1
1.74.6
- . 8.0.9
1.8
- 2 . 2- . 2
- 2 . 4.7.8
3.2
Season-ally
adjusted
- 0 . 71.7.7.7.3
- 1 . 5
1.0- . 21.3
- . 11.6
- . 5
- . 41.2.4
3.1.4
- 1 . 0.5
- . 5.9
2.4.4
- . 5.5.1
- 1 . 2- 2 . 1
.2
.9- 1 . 4
2.8- 2 . 1- 1 . 5- . 3
- 1 . 21.4
- 1 . 11.7
2.92.92.92.6.0
2.8
Processed foodsand feeds
Unad-justed
0.8
- . 2- . 2
1.0
1.0
.2
1.0.3
1.71.9
.0
.7
2.0.1
- . 3.0
- . 6.5
1.4- . 4
.1- 1 . 1- . 1- . 9
1.01.3.4
- . 2.9.3
1.0- . 5
- ! 4.3
1.3
Season-ally
adjusted
0.01.0.4.1.5
- . 3
.6- . 1
.2
.0
.6
.0
.3
.3
.91.01.4.7
.0
.2- . 11.0.5.7
1.0.3.4
-l'.O- . 5
.8
.4
.12
.*3
- . 11.51.0.0.6
.4
.3- . 7
.5
.51.4
Industrialcommodities
Unad-justed
0.4.5.2.2
- . 1.1
.0
.1
.3
.5
.1
.4
.5
.6
.5
.1
.0
.1
.1
.4
.4
.6
.3
.4
.5
.4
.2
.4
.4
.1
.2
.2
.2
.8
.0
.4
.4
.3
.3
.4
.4
.2
.5
.5- . 1
.0- . 1
.3
Season-ally
adjusted
0.3.4.2.3
- . 0.2
.1
.1
.3
.3
.1
.4
.3
.5
.5
.2
.1
.2
.2
.4
.4
.3
.4
.3
".2.2.4.5.3
.3
.2
.2
.5
.1
.3
.3
.1
.3
.5
.4
.3
.7
.5- . 1- . 3
. 0
Source: Department of Labor, Bureau of Labor Statistics.
255
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCETABLE B-52.—Money stock measures, 1947-71
[Averages of daily figures; billions of dollars, seasonally adjusted]
Year andmonth
1947: Dec1948: Dec1949: Dec...
1950: Dec1951: Dec1952: Dec1953: Dec1954: Dec1955: Dec1956: Dec1957: Dec1958: Dec1959: Dec
I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec1965: Dec1966: Dec1967: Dec1968: Dec1969: Dec
1970: Dec1971: Dec*.—1970:Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1971:Jan. . .FebMarAprMayJuneJulyAugSeptOctNov pDec p
Overall measures
Mi(Currency
plusdemanddeposits)
113.1111.5111.2
116.2122.7127.4128.8132.3135.2136.9135.9141.1142.6
141.7146.0148.1153 6160.5168.0171.7183.1197.4203.7
214.8228.2205.5204.7206.7208.3209.0209.4210.3211.6212.8213.1213.6214.8215.3217.7219.7221.2223.8225.5227.4228.0227.6227.7227.7228.2
M2(Mi plus
timedepositsat com-mercialbanks
other thanlargeCD's)
273.8298.1314.0345.7378.0386. 8
418.2464.7388.5387.4390.4393.9396.2398.1401.7405.6409.2412.0414.3418.2423.1430.4437.1441.5446.6450.6453.4454.5455.6458.3460.8464.7
M3(M2 plusdepositsat non-bankthrift
institu-tions)
422.9459.4481.3528.8572.6588.4
634.1718.1589.9588.7592.4597.0600.4603.4608.7614.2619.3624.0628.1634.1642.5653.7664.2672.9681.5688.6694.5698.0701.4706.7711.8718.1
Components and related items
Cur-rency i
26.425 825 1
25 026 127.327.727 427 828.228.328.628.9
28.9
Deposits at commercial banks
De-mand 2
86.785.886.0
91.296.5
100.1101.1104.9107.4108.7107.6112.6113.7
112.829.6 116.530.6 j 117.6
Time and savings3
Total
35.436 036.4
36.738.241.144.548 350.051.957.465.467.4
72.982.797.8
32 5 121.1 112.234.236.338.340.443.446.0
49.052.546.246.446.747.147.647.748.048.148.348.548.749.049.349.750.050.550.851.151.651.751.952.252.252.5
126.3131.7133.4142.7154.0157.7
165.8175.7159.3158.3160.0161.2161.4161.7162.4163.5164.5164.6164.9165.8166.0168.0169.7170.7173.0174.5
175.8176.3175.7175.5175.5175.7
126.6146.8158.1183.4204.2194.1
228.9269.9193. 4193.4195.2198.7200.6202.3208.4213.2217.7221.5224.2228.9234.4240.2245.4248.1251.3254.4256.4257.3259.6263.3265.3269.9
LargeCD's*
13.316.715.920.823.611.0
25.533.410.410.711.513.113.413.617.019.321.322.623.625.526.627.528.127.828.529.430.430.831.632.732.233.4
Other
113.3130.1142.2162.6180.6183.2
203.4236.5183.0182.7183.7185.6187.2188.7191.4193.9196.4198.9200.6203.4207.8212.7217.4220.3222.8225.0225.9226.5228.0230.6233.1236.5
Depositsat non-bankthrift
institu-tions 5
149.2161.3167.4183.1194.6201.5
215.9253.4201.4201.3202.0203.1204.2205.3207.0208.6210.1212.0213.8215.9219.4223.3227.1231.4234.9238.0241.1243.6245.8248.4251.0253.4
U.S.Govern-
mentdemanddeposits(unad-
justed)*
1.01.82.8
2.42.74.93.85.03.43.43.53.94.9
4.74.95.65.15.54.63.45.05.05.6
7.36.64.87.16.95.36.46.56.87.16.96.25.77.36.88.45.55.57.85.36.86.87.55.33. 96.6
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 and savings deposits other than those due to domestic commercial banks and the U.S. Government.4 Negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting com-
mercial banks.s Average of the beginning- and end-of-month deposits of mutual savings banks and savings and loan shares.6 Deposits at all commercial banks.
Note.—Effective June 1966, balances accumulated for payment of personal loans were reclassified for reserve purposesand are excluded from time deposits reported by member banks. The estimated amount of such deposits at all com-mercial banks ($1.1 billion) is excluded from time and savings deposits thereafter.
Source: Board of Governors of the Federal Reserve System.
256
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-53.—Bank loans and investments, 1930-71
[Billions of dollars]
End of yearor month 1
1930:June1931:June1932:June1933:June1934:June1935193619371938193919401941194219431944 . . . .1945 . . . .19461947 . . - .1948
194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971 v
1971: JanFebMar..AprMayJuneJulyAugSept*OctpNOVPDeep . .
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
Loans2
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
Loans plusloans sold to
bank affiliates2
Seasonally adjusted
113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2
« 188.7197.4212.8231.2250.2272.4300.1
6 316.1352.0390.6
7 402.1435.9482.9440.7446.1449.5452.5456.1461.1463.7468.4472.4476.5478.4482.9
41.542.051.156.562.866.269.180.688.191.595.6
« 110.5116.7123.6137.3153.6172.9198.2
6 213.9231.3258.2
7 279.4292.0
8318.6293.7295.7296.5298.2300.7
8 301.7304.1309.7313.0316.4317.5318.6
62.366.461.160.462.262.267.660.357.256.965.1
5 57.759.865.364.761.760.857.153.559.361.0
7 51.558.060.358.960.861.160.760.462.861.660.959.959.158.960.3
9.210.312.413.414.214.716.416.816.317.920.5
5 20.520.823.929.235.038.744.8
e 48.761.471.4
7 71.285.9
8 103.988.189.691.993.595.1
8 96.698.097.899.5
101.0102.0103.9
7 283.3294.9
8 321.5296.6298.6299.3300.9303.5
8 304. 8307.0312.4316.0319.3320.3321.5
Weekly re-porting largecommercial
banks 3
Businessloans*
5.14.24.75.37.16.36.46.57.3
11.314.715.6
15.613.917.921.623.423.422.426.730.831.831.730.732.232.935.238.842.1
3 53.160.765.873.181.581.783.880.180.881.281.181.482.381.682.483.583.182.683.8
i Data are for last Wednesday of month (except June 30 and December 31 call dates used for all commercial banks).' Adjusted to exclude all interbank loans beginning 1948 and do-nestic bank loans only beginning January 1959.3 Weekly reporting large commercial banks beginning 1965 and weekly reporting member banks prior to 1965.< Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans to financial institu-
tions excluded. Prior to 1943. published data adjusted to include open-market paper.5 Beginning January 1959, loans and investments are reported gross, without valuation reserves deducted, rather than
net of valuation reserves, as in earlier periods.e 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.
7 Beginning June 1969, data include all bank-premises subsidiaries and other significant majority-owned domesticsubsidiaries; earlier data include commercial banks only.
s Beginning June 1971, Farmers Home Administration insured notes totaling about $0.7 billion are classified as othersecurities rather than as loans.
Source: Board of Governors of the Federal Reserve System.
257
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-54.—Total funds raised in credit markets by nonfinancial sectors, 1963-71
[Billions of dollars]
Nonfinancial sector
Total funds raised
U.S. Government..
1963
Public debt securities.Budget agency issues.
All other sectors
Corporate equity shares.Debt instruments
Debt capital instruments
State and local govern-ment securities
Corporate and foreignbonds
Mortgages
Home . . -Other residential. _CommercialFarm
Other private credit-
Bank loans n.e.cConsumer creditOpen-market paperOther
Total funds supplied directly.
U.S. GovernmentU.S. Government credit agencies, net.
Funds advanced..Less funds raised.
Federal Reserve System.Commercial banks, net..Private nonbank finance.
Savings institutions, net-InsuranceFinance n.e.c, net
Funds advanced..Less funds raised.
Foreign
Private domestic nonfinancial..
BusinessState and local government,
general fundsHouseholdsLess net security credit
57.7
4.0
4.1
53.7
- . 253.9
35.9
5.9
4.925.1
15.13.25.11.6
18.0
6.07.9.0
4.1
57.7
1.5.1
1.61.4
2.919.129.9
15.514.3
.1
5.85.8
.9
3.4
2.9
1.11.32.0
1964
66.9
6.4
5.41.0
60.5
1.658.9
36.3
5.7
4.526.1
15.64.53.82.1
22.6
8.38.5.7
5.1
66.9
2.8.4
.7
.4
3.421.831.0
16.015.6- . 5
5.56.1
.6
7.0
2.0
4.0- . 2
1965
70.4
1.7
1.3.4
68.7
.368.4
38.8
7.3
5.925.6
15.43.64.42.2
29.5
14.210.0-.35.7
70.4
2.8.0
2.22.3
3.828.330.1
13.717.9-1.4
6.98.3
-.3
5.6
1.0
2.52.5.3
1966
68.5
3.5
2.31.2
64.9
.964.0
39.0
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
83.5
13.0
8.94.1
70.5
2.468.1
46.6
8.7
15.922.0
11.63.64.72.1
21.6
9.64.62.15.2
83.5
4.6.5
-.1-.6
4.836.634.4
16.818.7-1.1
4.45.6
2.8
-.2
-.2
2.1.02.2
1968
96.9
13.4
10.33.1
83.5
-.784.2
50.9
9.6
14.027.3
15.23.56.62.1
33.3
13.411.11.67.3
96.9
4.9-.2
3.23.5
3.739.534.2
14.622.0-2.5
9.812.3
2.5
12.3
7.4
.45.81.4
1969
90.4
-3.6
-1.3-2.4
94.1
4.889.3
49.1
8.1
13.127.9
15.74.85.51.9
40.2
15.79.33.311.8
90.4
2.5.2
9.08.8
4.212.230.1
10.421.8-2.1
9.811.9
1.3
39.8
13.8
6.118.3-1.6
1970
97.5
12.8
12.9- . 1
84.7
6.877.9
58.8
11.8
21.125.8
12.85.95.41.8
19.2
2.74.33.88.4
97.5
3.21.2
9.98.7
5.031.338.9
14.724.9- . 7
4.95.6
10.9
7.1
- 1 . 0
- 3 . 810.6
- 1 . 4
See footnote at end of table.
258
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-54.—Total funds raised in credit markets by nonfinancial sectors, 1963-71—Continued
[Billions of dollars]
Nonfinancial sector
Total funds raised
U.S. Government
Public debt securities
Budget agency issues
All other sectors
Corporate equity shares
Debt instruments
Debt capital instruments
State and local government securitiesCorporate and foreign bondsMortgages
HomeOther residentialCommercialFarm
Other private credit
Bank loans n.e.cConsumer creditOpen-market paperOther
Total funds supplied directly
U.S. GovernmentU.S. Government credit agencies, net. _.
Funds advancedLess funds raised
Federal Reserve SystemCommercial banks, netPrivate nonbank finance
Savings institutions, netInsuranceFinance n.e.c, net
Funds advaneed
Less funds raised
Foreign
Private domestic nonfinancial
BusinessState and local government, general fundsHouseholdsLess net security credit
Source: Board of Governors of the Federal Reserve System.
1971
1
21
1
2
19
2.17.
18
unadjusted quarter-ly flows
0
6
37
4
31
9
5.96.06.9
3.11.71.6.6
- 1 . 7
- 3 . 0- 3 . 2
1.23.3
21.
1.
_ '
2.1.
18.
11.7.
- 1 .
j
6.
- 9 .
0
27
24
317
980
55
5
4
- . 61.1
-10.12
II
40.8
1
1
8
91
39.0
4.234.8
22
45
11
4
897
6.32.52.3
.5
12
73
- 12
40
1.j
- 1 .
17!19.
12.7.
l!
7.
- 4 .
- 4 !1.
4
3825
8
04
13
156
294
60
3
2
0902
III
41.7
9.6
9.5.1
32.1
3.129.0
22.3
4.34.5
13.4
7.62.8
!s6.7
2.63.31.1
- . 3
41.7
.8- . 4
1.82.2
2.17.1
17.1
9.28.3
- . 4
- . 9- . 6
11.3
3.7
.3
4! 7.7
1971
1
112.
- 1 .
seasonally adjustedannual rates
5
6
1.4- 2 . 9
114.
9.104.
82.
25.25.31.
0
28
4
608
15.07.37.32.2
22. 4
4.54.02.9
10.9
112.
4.2.
-l".
16.39.71.
5
31
38
130
45.429.5
- 3 . 9
3!
27.
- 4 7 .
1.
- 5 l !
27
3
7
2815
II
175.7
47.7
48.0- . 2
128.0
16.9111.1
84.5
16.323.245.0
24.710.29.01.2
26.6
12.99.0
-3 .88.4
175.7
4.4-6 .4
-5 .7.7
1.959.682.5
50.034.5
-1 .9
-1 .8.1
30.5
3.1
6.53.0
-1 .45.0
III
162.9
20.6
20.2.4
142.3
12.5129.8
87.3
17.817.352.2
29.011.29.82.2
42.5
24.112.62.73.1
162.9
3.2- . 3
8.38.6
7.241.165.9
35.632.4
-2 .1
2.54.6
39.2
6.7
9.0-2 .2
2.93.0
259
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-55.—Selected liquid assets held by the public, 1946-71
[Billions of dollars, seasonally adjusted]
End of year or month
194619471948. .1949 .
19501951 . .195219531954 . . .
19551956195719581959
19601961196219631964
19651966«1967 . . .19681969
19701971 v
1970: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1971- JanFebMarAprMayJune
J u l yAugSectOctNov pDec*
Total
239.1246.2254.1262.1
271.4281.0296.0311.5320.3
332.5343.2356.0373.1393.9
399.2424.6459.0495.4530.5
573.1601.5650.4709.6731.7
786.1879.7
720.5721.9733 5731.2733.9738.4
749 7750.9765.3764.6773.87£6.1
788 9796.6815.8815 5824.8826.6
836. 3841.7851.5856.2863.0879.7
Demanddeposits
andcurrency2
108.5112.4110.5110.4
115.5120.9125.5127.3130.2
133.3134.8133.5138.8139.7
138.4142.6144.8149.6156.7
164.1168.6180.7
e 199 2206.8
207.6222.3
195.4194.8199 3196.7197.9199.8
198 7199.3203.6199.8201.5207.6
202 9204 62*1.6206 3212.5218.4
213.8215.0214.4214.5215.3222.3
Time d
Com-mercial-banks s
33.935 335.936.3
36.638.241.244.648.2
49.752.057.565.467.4
73.182.598.1
112.9127.1
147.1159.3183.1203 8197.1
234.8274.9
196.0196.7198 8201.5201.7202.9
211 8215.4221.5224.6230.4234.8
240 0244 5249.5250.2252.3254.7
256.5258.2263.5266.5272.4274.9
eposits
Mutualsavingsbanks
16.917.818.419.3
20.120.922.624.426.3
28.130.031.633.934.9
36.238.341.444.549.0
52 655.260.364 767.3
71.581.2
67.067.467 568.068.468.7
69 269.469.970.470.971.5
72 273.574.775.976.877.6
78.378.679.380.080.881.2
Postalsavingssystem
3.33.43.33.2
2.92.72.52.42.1
1.91.61.31.1.9
.8
.6
.5
.5
.4
.3
.1
Savingsandloan
shares
8.59.7
11.012.5
14.016.119.222.827.2
32.037.041.747.754.3
61.870.579.890.9
101.4
109.8113.4123.9131.0134.9
145. 7173.5
133.6134.2135.7136.3136.8137.4
139.0140.1142.2143.3144.5145.7
148.4151.3155.4158.0159.9161.5
164.4166.1169.1170.6172.4173.5
U.S.Govern-
mentsavingsbonds4
48.650.953.455.0
55.855.455.755.655.6
55.954.851.650.547.9
47.047.447.649.049.9
50.550.951.952.552.4
52.755.1
52.252.152.052.052.052.0
52.452.052.152.152.252.7
52.852.853.053.253.453.6
53.854.054.254.354.555.1
U.S.Govern-
mentsecuritiesmaturing
within1 year*
19.416.621.625.5
26.426.829.334.430.6
31.633.238.835.648.8
41.942.646.848.146.1
48.653.950.558.5
7 73.2
73.872.7
76.376.680.176.877.277.7
78.574.676.074.574.373.8
72.670.071.671.869.970.9
69.569.871.070.267.672.7
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 stock, Table B-52, except for deduction of demand deposits held by mutual savingsbanks and savings and loan associations. Data are for last Wednesday of month. Data prior to July 1969 have not been re-vised to conform to the money stock revision.
3 Time deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government(same concept as in Table B-52). Data are for last Wednesday of month, except that June 30 and December 31 calldata are used where available.
* Excludes holdings ot Government agencies and trust funds, domestic commercial and mutual savings banks, FederalReserve Banks, and beginning February I960, savings and loan associations.
J 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.
fl Estimates for Tuesday, December 31, rather than last Wednesday of December.J Beginning 1969, data have been adjusted to conform to the new budget concept.
Source: Board of Governors of the Federal Reserve System.
260
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TABLE B-56.—Federal Reserve Bank credit and member bank reserves, 1929-71
[Averages of daily figures, millions of dollars]
Year and month
1929: Dec
1930: Dec1931: Dec1932: Dec1933: Dec1934: Dec1935: Dec1936: Dec1937: Dec1938: Dec1939: Dec
1940: Dec1941: D e c .1942: D e c . . .1943: Dec1944: Dec1945: Dec1946: D e c . . .1947: Dec1948: Dec1949: Dec
1950: Dec1951: D e c . .1952: Dec1953: Dec1954: Dec1955: Dec1956: Dec1957: Dec1958: Dec1959: Dec
1960: Dec1961: Dec1962: Dec .1963: Dec1964: Dec1965: D e c1966: Dec1967: Dec1968: Dec1969: Dec
1970: Dec1971: Dec* ._
1970: JanFebMarApr . . .MayJune ._ . .
July . . . .AugSept .Oct .Nov. . .Dec
1971: JanFebMarAprMay . . .June . - . . . .
JulyAugSeptOctNovDec*
Reserve Bank credit outstanding
Total
1,643
1,2731,9502,1922,6692,4722,4942,4982,6282,6182,612
2,3052,4046,035
11,91419,61224,74424,74622,85823,97819,012
21,60625,44627,29927,10726,31726,85327,15626,18628,41229,435
29,06031,21733,21836,61039,87343,85346,86451,26856,61064,100
66,70874,246
62, 86861, 46861,38862,42463,08762, 843
63,91264,13464,61964, 70865,13266,708
67,36366,79766,69167,74768,92668,834
71,05270,74971,56872,34972, 69474,246
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 31227,03627,24829,09830,54633,72937,12640,88543,76048,89152,52957, 500
61,68869, 158
56 27355. 94955,78055,98257,26557,630
58,21959, 54459,90359, 53360,39361,688
62,06862,35062,71963,37164,71464,642
66,00166,32467,10667,69068,05269,158
Memberbank
borrow-ings
801
337763281951067
16
3354
90265334157224134118142657
1,59344124683968871055790687
149304327243454557238765
1,086321108
9651,092
896822976888
1,358827607462425321
370328319148330453
821804501360407108
Allother,mainlyfloat
39629241057
142325857474799
114180482658654702822729842607
1,1191,3801,3061,0271,1541,4121,7031,4941,5431,493
1,7251,9702,3682,5542,5042,5142,5472,1393,3165,5144,6994,980
5,6304,4274,7125,6204,8464,325
4,3353,7634,1094,7134,3144,699
4,9254,1193,6534 2283 8823,739
4,2303,6213,9614,2994,2354,980
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
a 18,932
19,28320,11820,04020,74621,60922,71923,83025,26027,22128,03129, 2-531,316
28, 85827,97627,47328,09627,91027, 567
28.12828,34928,82528.70128, 55829,265
30,48829,88029,68629 88530 41930,023
30,54730,45530,80230,86030,95331, 316
Re-quired
2,347
2,3422,0101,909
U,8222,2902,7334,6195,8085,5206,462
7,4039,422
10,77611,70112,88414,53615,61716,27519,19315,488
16,36419,48420,45719,22718,57618,64618,88318,84318,38318,450
18, 52719,55019,46820,21021,19822,26723,43824,91526,76627,77428,99331,16C
28,69227,70327, 35827,97827,72927,380
27,98728.20428, 55328,44728,43828,993
30,20929,67929,48729,74530,10729,892
30,38530,25730,59630,65330, 69031,160
Excess
48
7360
526W66
1,7482,9832,0461,0713,2265,011
6,6463,3902,3761,0481,2841,491
900986797803
1,027826723693703594652577516482756568572536411452392345455257111156
166273115118181187
141145272254120272
279201199140312131
162198206207263156
Memberbank freereserves(excessreservesless bor-rowings)
-753
-264-703
245671
1,7382,9772,0391,0553,2195,008
6,6433,3852,372
9581,0191,157
743762663685885169
-870252457
-245- 3 6
-133- 4 1
-424
669419268209168- 2
-165107
-310-829- 4 9
48
-799-819-781- 7 0 4-795-701
-1,217-682-335-208-305- 4 9
- 9 1-127-120
- 8-18
- 3 2 2
-658-606-295-153-144
48
» Data from March 1933 through April 1934 are for licensed banks only.* Beginning December 1959, total reserves held include vault cash allowed.Source: Board of Governors of the Federal Reserve System.
261
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Bond yields and interest rates, 1929-71
(Percent per annum)
Year or month
1929
19301931193219331934
19351936193719381939
19401941. .194219431 9 4 4 . . .
19451946 .194719481949
19501951 .195219531954
19551956 .195719581959
19601961196219631964
19651966196719681969
1970. .1 9 7 1 . . .
1969* JanFebMarAprMayJune
JulyAugSeptOctNovDec l
U.S
3-monthTreas-
urybills »
1 402879
.515
.256
.137143447
.053023
.014
.103326
.373
.375
.375
.375594
1.0401.102
1.2181.5521.7661.931.953
1.7532.6583.2671.8393.405
2.9282.3782.7783.1573.549
3.9544.8814.3215.3396.677
6.4584.348
6 1776 1566.0806.1506.0776.493
7.0047.0077.1297 0407.1937.720
. Government securities
9-12monthissues2
0 75.79
81.8288
1 141.14
1.261.731 812.07.92
1.892.833.532.094.11
3.552.913.023.283.76
4.095.174.845.627.06
6.904.75
6 266 216.226.116.267.07
7.597.517.767 637.948.34
3-5year
issues3
2.662.12
1.291 111 40.8359
.50
.734634
1.33
1816Vfi?
1.43
1.5093
2.132.561.82
2.503.123.622.904.33
3.993.603.573.724.06
4.225.165.075.596.85
7.375.77
6 046.166.336.156.336.64
7.027.087.587 477.57
.98
Taxablebonds4
2.462.472.48
2.372.192.252.442.31
2.322.572.682.942.55
2.843.083.473.434.08
4.023.903.954.004.15
4.214.654.855.266.12
6.585.74
5 745.866.055.845.856.05
6.076.026.326 276.526.81
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
8.047.39
6.596.666.856.896.796.98
7.086.977.147.337.357.72
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
9.118.56
7.327.307.517.547.527.70
7.847.868.058 228.258.65
High-grademunic-
ipalbonds
(Stand-ard &
Poor's)
4 27
4.074 014.654.714.03
3.403 073.102.912.76
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
3.273.823.984.515.81
6.515.70
4.955.105.345.295.475.83
5.846.076.356.216.376.91
Averagerate onshort-termbankloans
to busi-ness—
selectedcities
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
7 5.00
5.164.975.005.014.99
5.066.00
7 6.006.688.21
8.486.32
7.32
7.86
8.82
8.83
Primecom-mer-cial
paper,4-6
months
5.85
3.592.642.731.731.02
.7575
.94
.81
.59
.56
.53
.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
7.725.11
6.536.626.827.047.358.23
8.658.338.488.568.468.84
Fed-eral
ReserveBankdis-
countrate
5.17
3.042 122 822.561.54
1.501 501 331.001.00
1.001.00
6 1 006 1.008 1.00
8 1.00M.00
1 001.341.50
1.591.751.751.991.60
1.892.773.122.153.36
3.533.003.003.233.55
4.044.504.195.175.87
5.954.88
5 505.505.505.956.006.00
6.006.006.006 006.006.00
FHAnew
homemort-gage
yields*
4.34
4.174.214.294.614.62
4.644.795.4?5.495.71
6.185.805.615.475.45
5.466.296.557.138.19
9.057.78
7.50
7.998.058.068.06
8.358.368.368.408.488.48
See footnotes at end of table.
262
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.— Bond yields and interest rates, 1929-71 —Continued
[Percent per annum]
Year or month
1970: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1971: JanFebMar.AprMayJune
JulyAugSentOctNovDec
U.S. Government securities
3-monthTreas-
urybills i
7.9147.1646.7106.4807.0356.742
6.4686.4126.2445.9275.2884.860
4.4943.7733.3233.7804.1394.699
5.4055.0784.6684.4894.1914.023
9-12monthissues2
8.227.606.886.967.697.50
7.006.926.686.345.524.94
4.293.803 664.214.935.57
5.895.675.314.744.504.33
3-5year
issues3
8.147.807.207.497.977.86
7.587.567.247.066.375.86
5.725.314.745.426.026.36
6.776.395.965.685.505.42
Taxablebonds4
6.866.446.396.536.946.99
6.576.756.636.596.245.97
5.925.845.715 755 965.94
5.915.785.565.465.485.62
Corporatebonds
(Moody's)
Aaa
7.917.937.847.838.118.48
8.448.138.098.038.057.64
7.367.087.217.257.537.64
7.647.597.447.397.267.25
Baa
8.868.788.638.708.989.25
9.409.449.399.339.389.12
8.748.398.468.458 628.75
8.768.768.598.488.388.38
High-grademunic-
ipalbonds
(Stand-ard &
Poor's)
6.806.576.146.557.027.06
6.696.336.456.556.205.71
5.705.555.445 656.146.22
6.315.955.525.245.305.36
Averagerate onshort-termbankloans
to busi-ness-
selectedcities
8.86
8.49
8.50
8.07
"6.59
6.01
6.51
6.18
Primecom-mer-cial
paper,months
8.788.558.338.068.238.21
8.297.907.326.856.305.73
5.114.474.194 575.105.45
5.755.735.755.544.924.74
Fed-eral
ReserveBankHie
rate
6 006.006.006.006.006.00
6.006.006.006.005.855.52
5.234.914.754.754.754.75
4.885.005.005.004.834.65
FHAnew
homemort-gage
yields*
8.62
9.299.20
,9.109.11
9.169.119.079.018.978.90
8.40
7.327.377.75
7.897.977.927.847.757.62
1 Rate on new issues within period. First issued in December 1929 and issued irregularly in 1930. Bills were tax exemp tprior to March 1, 1941, and fully taxable thereafter, for 1934-37. series includes issues with maturities of more than3 months.
2 Certificates of indebtedness and selected note and bond issues (fully taxable).3 Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable thereafter.* First issued in 1941. Series includes bonds which are neither due nor callable before a given number of years as fol-
lows: April 1953 to date, 10 years; April 1952-March 1953,12 years; October 1941-March 1952, 15 years.8 Data for first of the month, based on the maximum permissible interest rate (7 percent beginning February 18,1971).
Through July 1961, computed on 25-year mortgages paid in 12 years and thereafter, 30-year mortgages prepaid in 15 years.8 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.7 Series revised. Not strictly comparable with earlier data.
Note.—Yields and rates computed for New York City except for short-term bank loans.
Sources: Department of Housing and Urban Development, Treasury Department, Board of Governors of the FederalReserve System, Moody's Investors Service, and Standard & Poor's Corporation.
263
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B—58.—Short- and intermediate-term consumer credit outstanding, 1929—71[Millions of dollars]
End of year or month Total
Instalment credit
TotalAuto-mobilepaper
Othercon-
sumergoodspaper
Homerepair
andmodern-
izationloans 1
Per-sonalloans
Noninstalment credit
TotalCharge
ac-counts
Other 2
Adden-dum:Policy
loans bylife in-surance
com-panies •
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. .
1970..1971 <_
1970: Jan. . .Feb...M a r -Apr...May...June..
July...Aug...Sept..Oct. . .Nov...D e c .
1971: Jan...Feb..Mar..Apr. .May..June.
July..Aug..Sept..Oct...Nov..Dec*.
7,1166,3515,3154,0263,8854,2185,1906,3756,9486,3707,2228,3389,1725,9834,9015,1115,6658,384
11,59814,44717,36421,47122,71227,52031,39332,46438,83042,33444,97145,12951, 544
56,14157,98263,82171,73980,26890,31497,543102,132113,191122,469
126, 802135, 800
121,074120, 077119,698l?0, 402121,346122, 542123,092123,655123,907123,866123,915126,802
125,077123,815123,604125,047126,025127,388
128,354129,704130,644131,606133,263136, 80D
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, 56828,90631,72033,86833,64239,24742,96843,89148,72055,48662,69271,32477,53980,92689,89098,169
101,161109, 200
97, 40296, 89296, 66297,10497, 70698, 69999, 30299, 860100,14299,95999.790101,161
100,10199,24499,168100,028100,692101,862
102,848104,060104,973105, 763107, 097109,200
1,384
986684356493614992
1,3721,4941,0991,4972,0712,458
742355397455981
1,9243,0184,5556,0745,9727,7339,8359,80913,46014,42015,34014,15216,420
17,65817,13519,38122,25424,93428,61930,55630,72434,13036,602
35,49038,400
36,29136,11936,08836, 26436,45536, 80936,91836,90836, 73836, 51836,01135,490
35,00434,86935,02835,49635,81936, 34936,76337,15437,38337, 75938,16438, 400
1,5441,4321,214
834799889
1,0001,2901,5051,4421,6201,8271,9291,195
819791816
1,2902,1432,9013,7064,7994,8806,1746,7796,7517,6418,6068,8449,02810,631
11,54511,86212,62714,17716,33318,56520,97822,39524,89927,609
29,94932, 000
27, 34626, 98726, 81426, 85027,05527, 30327, 53827, 80128,05528,15228, 37829,949
29,57528,92828,59128,68228,70628,976
29,16529,47729,84030,07230. 58632. 000
272522181537
253364219218298
371376255130119182405718853898
1,0161,0851,3851,6101,6161,6931,9052,1012,3462,809
3,1483,2213,2983,4373,5773,7283,8183,7893,9254,0404,1104,400
3,9913,9703,9513.9604.0034,0404,0814,1044,1234,1264,1334,110
4,0674,0514,0454,0774,1264,1864,2404,2954,3304,3574,3704,400
569579543464416459572721900927
1,088
1,2451,322974832869
1,0091,4961,9102,2242,4312,8143,3574,1114,7815,3926,1126,7897,5828,1169,386
1061711,67313,41415,61817,84820,41222,18724,01826,93629,91831,61234, 400
29,77429,81629, 80930,03030,19330,54730,76531,04731, 22631,16331, 26831,612
31,45531,39631,50431,77332,04132,351
32,68033,13433,42033,57533,97734,400.
3,5923,3292,8522,3542,1622,2192,3732,6282,8302,6842,7192,8243,0872,8172,7652,9353,2034,2124,9035,4515,7746,7687,4188,1178,3888,8969,92410,61411,10311,48712,297
13,17314,09115,10116,25317,57618,99020,00421,20623, 30124,300
25,64127, 600
23, 67223,18523,03623, 29823, 64023, 843
23, 79023, 79523,76523,90724,12525,641
24,97624,57124,43625,01925,33325,526
25,50625,64425,67125,84326,16627, f 00
1,9961,8331,6351,3741,2861,3061,3541,4281,5041,4031,4141,4711,6451,4441,4401,5171,6122,0762,3812,7222,8543,3673,7004,1304,2744,4854,7954,9955,1465,0605,104
5,3295,3245,6845,9036,1956,4306,6866,9687,7558,2348,8509,800
7,5396,7896,6456,9007,2737,4737,5097,5087,4897,6567,7578,850
8,0947,3537,2077,6898,0048,2148,2718,3058,3058,43?8,6349,800
1,5961,4961,217980876913
1,0191,2001,3261,2811,305
1,3531,4421,3731,3251,4181,5912,1362,5222,7292,9203,4013,7183,9874,1144,4115,1295,6195,9576,4277,193
7,8448,7679,417
10,35011,38112,56013,31814,23815,54616, 06616, 79117, 80016,13316, 39616, 39116, 39816, 36716, 370
16,28116, 28716, 27616, 25116, 36816,791
16,88217,21817,22917,33017,32917,312
17,23517,33917,36617,40817, 53217, 800
2,3792,8073,3693,8063,7693,6583,5403,4113,3993,3893,2483,0912,9192,6832,3732,1341,9621,8941,9372,0572,2402,4132,5902,7132,9143,1273,2903,5193,8694,1884,6185,2315,7336,2346,6557,1407,6789,117
10,05911,30613, 82516, 064
14, 06714,30214,54414,77114,96715,191
15,37515,54115, 70315,81315,95016, 025
16,10916,22016,29316,37016,43316,51616,59016,67916,78216, 85016,948
foldings of financial institutions only; holdings of retail outlets are included in "other consumer goods paper."'Single-payment loans and service credit.1 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; by Council of Economic Advisers.
Sources: Board of Governors of the Federal Reserve System and Institute of Life Insurance (except as noted).
264
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-59.—Instalment credit extended and repaid, 1946-71
[Millions of dollars]
Year or month
1946..1947..1948..1949..
1950..1951..1952..1953-1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965..1966..1967..1968..1969..
1970..1971 i.
1970: Jan..Feb..Mar-Apr..May-June.
July..
Oct...Nov...Dec.
1971: Jan.. .Feb..Mar-May"June.
July..Aug..Sept..Oct..Nov..Dec*.
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
78,58682,33584,69397,053
102, 888
104,130118,000
Re-
6,78510,19013,28415,514
18,44522,98525,40527,95630,488
33,63437,05639,87040,33942,603
46,07348,12451,36056,82563,470
69,95776,12081,30688, 08994,609
101,138109,950
Automobilepaper
Ex-tended
1,9693,6925,2176,967
8,5308,95611,76412,98111,807
16,73415,51516,46514,22617,779
17,65716,02919,69422,12624,046
27,22727,34126,66731,42432,354
29,83134,900
Re-paid
1,4432,7494,1235,430
7,0119,05810,00310,87911,833
13,08214,55515,54515,41515,579
16,41916,55217,44719,25421,369
23,54325,40426,49928,01829, 882
30,94332,000
Other consumergoods paper
Ex-tended
3,0774,4985,3835,865
7,1507,4859,1869,2279,117
10,64211,72111,81011,73813,981
14,52514,55115,70117,92020,821
22,75025,59126,95230, 59333, 079
36,78140,900
Re-
2,6033,6454,6255,060
6,0577,4047,8928,6229,145
9,75210,75811,57411,55712,402
13,61314,23514,93516,36918,666
20,51823,17825,53528, 08930,369
34,44138,850
Home repair andmodernization
loans
Ex-tended
423704714734
835841
1,2171,3441,261
1,3931,5821,6741,8712,222
2,2152,0922,0842,1862,225
2,2662,2002,1132,2682,278
2,1452,600
Re-paid
200391579689
717772917
1,1191,255
1,3161,3701,4771,6261,765
1,8762,0152,0102,0462,086
2,1162,1102,1422,1322,163
2,0752,300
Personalloans
Ex-tended
3,0263,8194,2714,542
5,0436,2947,3478,0068,866
10,20311,05112,06912,27514,070
15,39616,37718,71021,35923,578
26,34327,20328,96132,76835,177
35,37339, 600
Seasonally adjusted
8,5218,6258,3928,4919,0048,683
9,0658,8098,8498,5808,4148,536
8,9169,0819,5339,7519,6909,715
9,67510, 04910,15610,03110,57210,700
8,1418,2078,1948,1958,5898,242
8,6228,5778,4908,6628,7168,515
8,8298,9799,0389,0889,1979,190
8,9149,2229,1579,1079,3069,900
2,4792,5362,4962,5712,5952,587
2,6852,5372,6212,3492,1272,170
2,4612,6872,8972,8722,7562,838
2,7733,0043,1472,9923,1623,150
2,4692,5502,5012,5272,6002,573
2,7522,6322,5992,5502,5772,618
2,6232,6362,6962,5662,6402,678
2,5652,6972,7322,6342,6622,850
2,9253,0182,9222,8433,1832,925
3,1243,1683,0713,1133,1133,281
3,2523,2043,2103,4153,2953,433
3,3993,4653,4623,4673,5953,900
2,7222,7612,7922,7292,8882,750
2,8742,9672,9133,0363,0822,945
3,1453,2123,1643,2493,2113,233
3,2033,2623,1723,2193,2543,550
160179165183180189
192173186182180177
177197209205200224
218222227229214250
168171169173174174
170175174179176175
175188196184188192
188196199197199200
2,9572,8922,8092,8943,0462,982
3,0642,9312,9712,9362,9942,908
3,0262,9933,2173,2593,4393,220
3,2853,3583,3203,3433,6013,400
Re-paid
2,5393,4053,9574,335
4,6605,7516,5937,3368,255
9,48410,37311,27611,74112,857
14,16515,31916,96919,15621,349
23,78025,42827,13029, 85032,195
33,67936,800
2,7822,7252,7322,7662,9272,745
2,8262,8032,8042,8972,8812,777
2,8862,9432,9823,0893,1583,087
2,9583,0673,0543,0573,1913,300
i Preliminary; December by Council of Economic Advisers.
Source: Board of Governors of the Federal Reserve System (except as noted).
265
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-60.—Mortgage debt outstanding, by type of property and of financing, 1939-71
[Billions of dollars]
End of yearor quarter
1939
1940...19411942 .19431944
194519461947...19481949
19501951195219531954
195519561 9 5 7 . . . . . . . .19581959
19601961196219631964
19651966196719681969 v
1970 v1971 v
1969 : 1 *....II » . . .Ill »__IV "_.
1970: IP____II r___III p . .IV P . . .
1971: I P . . . .U 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
325.8347.4370.2397.5425.3
451.7499.5
403.7411.7418.7425.3
429.4435.6443.4451.7
459.0471.1485.6499.5
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
21.223.325.527.529.5
31.232.8
28.128.829.229.5
29.830.330.831.2
31.831.932.432.8
Nonfarm properties
Total
28.9
30.031.230.829.929.7
30.836.943.950.957.1
66.775.684.293.6
105.4
120.9134.6146.1160.7178.7
194.0212.3233.4257.4281.2
304.6324.1344.8370.0395.9
420.5466.7
375.7382.9389.5395.9
399.6405.2412.5420.5
427.2439.3453.2466.7
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
280.2307.5
254.8259.5263.5266.8
268.5271.7276.0280.2
283.6290.9299.5307.5
Multi-family
5.6
5.75.95.85.85.6
5.76.16.67.58.6
10.111.512.312.913.5
14.314.915.316.818.7
20.322.925.829.033.6
37.240.343.947.352.2
58.067.4
48.349.450.652.2
53.254.556.158.0
59.762.164.667.4
Com-mer-cial
prop-erties i
7.0
6.97.06.76.36.2
6.47.79.1
10.210.8
11.512.513.414.516.3
18.320.723.226.129.2
32.436.441.146.250.0
54.560.164.871.476.9
82.391.8
72.674.075.476.9
77.879.080.482.3
83.986.289.191.8
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
42.947.851.655.159.3
62.365.669.473.477.2
81.284.188.293.4
100.2
109.2
94.596.698.5
100.2
101.9103.2106.8109.2
111.0112.4
1- to 4-family houses
Total
1.8
2.33.03.74.14.2
4.36.19.3
12.515.0
18.922.925.428.132.1
38.943.947.250.153.8
56.459.162.265.969.2
73.176.179.9?4.490.2
97.3
85.387.188.890.2
91.692.295.197.3
98.298.4
FHAin-
sured
1.8
2.33.03.74.14.2
4.13.73.85.36.9
8.69.7
10.812.012.8
14.315.516.519.723.8
26.729.532.335.038.3
42.044.847.450.654.5
59.9
51.452.253.454.5
55.656.158.159.9
61.062.8
VAguar-
anteed
0.22.45.57.28.1
10.313.214.616.119.3
24.628.430.730.430.0
29.729.629.930.930.9
31.131.332.533.835.7
37.3
33.934.935.535.7
36.036.037.037.3
37.335.6
Conventional *
Total
27.1
27.728.227.125.825.5
26.530.634.137.339.0
44.649.054.961.569.2
78.086.894.6
105.5119.4
131.7146.7164.1184.0204.0
223.4240.0256.6275.6295.7
311.3
281.2286.2291.0295.7
297.6302.0305.7311.3
316.2326.9
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
84.893.8
104.3116.3128.3
139.8147.6156.1166.8176.6
182.9
169.6172.3174.6176.6
176.9179.6180.0182.9
185.3192.5
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.
266
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-61.—Mortgage debt outstanding, by lender, 1939-71
[Billions of dollars]
End of year or quarter
1939
1940194119421943 .1944
194519461947 . .19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969 v
1970 P1971 p
1969' 1 »II I'-l l ! pIV p
1970: 1 pII p .III pIV P
1971: 1 pII pIII pIV 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 2397.5425 3
451.7499.5
403 7411 7418 7425.3
429.4435.6443 4451.7
459.0471.1485.6499.5
Selected financial institutions
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
355.9394.0
324 7331 0335 7339.1
340.7344.5349 7355.9
361.8372.0383.5394.0
Savingsandloan
associa-tions
3.8
4.14 64.64.64.8
5.47 l8.9
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
150.3174.5
133 0136 3138 6140.2
140.8143.1146 4150.3
154.2161.2168.2174.5
Mutualsavingsbanks
4.8
4.94 84.64.44.3
4.24.44.95.86.7
8 39.9
11.412.915.0
17.519.721.223.325.0
26.929.132 336.240.6
44.647.350.553.556.1
57.962.0
54.254.855.456.1
56.456.957.457.9
58.759.660.762.0
Com-mercialbanks»
4.3
4.64.94.74.54.4
4.87.29.4
10.911.6
13.714.715.916.818.6
21.022.723.325.528.1
28.830.434 539.444.0
49.754.459.065.770.7
73.382.1
67.169.170.470.7
70.971.372.473.3
74.476.679.782.1
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
60.064.667.570.072.0
74.475.3
70.470.971 472.0
72.773.273 674.4
74.574.574.875.3
Other lenders
U.S.agencies2
5.0
4.94.74.33.63.0
2.42.01.81.92.4
2.73.44.04.44.6
5.26.07.47.8
10.0
11.211.812.211.211.4
12.415.818.421.726.8
33.039.4
22.623.424 926.8
28.630.031 733.0
33.635.237.439.4
Indi-viduals
andothers
11.9
12.012.211.711.511.5
12.113.815.316.517.4
18 419.420.521.823.4
25.427.329.332.535.4
38.041.844 045.947.7
48.750 953.055.859 4
62.866.1
56.457.258 059.4
60.161.161 962.8
63.663.964.766.1
i Includes loans held by nondeposit trust companies, but not bank trust departments.* 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."
Source: Board of Governors of the Federal Reserve System, based on data from various Government and private or-ganizations.
267
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.—Net public and private debt, 1929-70*
[Billions of dollars]
End of year
1929
1930193119321933 . . . .1934
1935 . .1936193719381939 . .
19401941194219431944
19451946194719481949 . . . .
19501951195219531954
19551956195719581959
19601961196219631964
1965 . . .1966196719681969
1970
Total
191 9
192.3182.9175.0168.5171.6
175.0180.6182 2179.9183.3
189 8211.4258.6313 2370.6
405 9396.6415.7431.3445.8
486 2519.2550.2581.6605.9
665 8698.4728 3769.6833.0
874 2930.3996.0
1,070.91,151.6
1,244.11,341.41, 442.71, 584. 51,722.7
1,840.2
Public
Fed-eralGov-ern-
ment 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
266.4271.8286.5291.9289.3
301.1
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
21.430.5
38.8
Stateandlocalgov-ern-
ments
13.6
14.716.016.616.315.9
16.116.216 116.116.4
16 416.115.414.513.9
13 413.715.017.019.1
21 724.227.030.735.5
41.144.548 653.759.6
64 970.577.083.990.4
98.3104.8112.9122.8131.4
143.3
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 4953. 5
1,034. 31,148. 41,271.6
1,356.9
Cor-porate
88 9
89.383.580.076 975.5
74 876.175 873.373.5
75 683.491 695 594.1
85 393 5
108.9117.8118.0
142 1162 5171.0179 5182.8
212 1231.7246 7259.5283.3
302 8324.3348.2376.4409.6
454 3506.6553.7628.1715.5
774.1
Total
72 9
71.864.957.151.049.8
49.750.651 150.050.8
53 055.649 948 850.7
54 759 969.480.690.4
104 3114 3129.4143 2157.2
180 1195.5207 6222.9245.0
263 3284.8311.9345.8380.1
416 1446.9480.6520.3556.0
582.8
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
39.342.448.351.855.5
58.7
Total
60 7
60.053.847.041.940.9
40.842.042 541.042.0
43 946.340 940.542.9
47 452 360.769.778.4
92 0100.6114.2126 4139.7
161.4176.1187 4199.7221.2
238.2257.3281.7312.6344 1
376.8404.5432.3468.5500.6
524.1
Nonfarm
Mort-gage
31 2
32.030.929.026.325.5
24 824.424 324.525.0
26 127.126 826.126.0
27 031 837.242.447.1
54 861 768.976 786.4
98.7109.4118 1128.1141.0
151.3164.5180.3198.6218.9
236.8251.6266.9284.9304.8
321.3
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
49.755.463.370.473.3
76.0
Con-sumer
7 i
6.45.34.03 94.2
5 26.46 96.47.2
8 39.26 04.95.1
5 78 4
11.614.417.4
21 522 727.531 432.5
38 842.345.045.151.5
56.158.063.871.780.3
90.397.5
102.1113.2122.5
126.8
* 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, 1973."
3 This comprises the debt of federally sponsored agencies, in which there is no longer any Federal proprietary interest.The obligations of the Federal Land Banks are included beginning with 1947, the debt of the Federal Home Loan Banksis included beginning with 1951, and the debts of the Federal National Mortgage Association, Federal Intermediate CreditBanks, and Banks for Cooperatives are included beginning with 1968.
* Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the nonfarm categories.* Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers, and debt owed
to life insurance companies by policyholders.
Sources: Department of Commerce (Bureau of Economic Analysis), 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.
268
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNMENT FINANCETABLE B-63.—Federal budget receipts and outlays, 1929-73
[Millions of dollars]
Fiscal year
Administrative budget:1929
19301931193219331934
1935 . . .193619371938 .1939
Consolidated cash statement:
19401941194219431944
19451946194719481949
1950 .195119521953
Unified budget:1954
195519561957 . . .19581959
19601961196219631964
196519661967 . .1968 .1969
197019711972119731 .
Receipts
3,862
4,0583,1161,9241,9973,015
3,7063,9974,9565,5884,979
6,8799,202
15,10425, 09747,818
50,16243,53743, 53145,35741,576
40,94053,39068,01171,495
69,719
65,46974,54779,99079,63679,249
92,49294,38999,676
106,560112,662
116,833130,856149, 552153,671187,784
193,743188,392197 827220,785
Outlays
3,127
3,3203,5774,6594,5986,645
6,4978,4227,7336,7658,841
9,58913,98034,50078,90993,956
95,18461,73836,93136,49340,570
43,14745,79767,96276,769
70,890
68, 50970,46076,74182, 57592,104
92,22397, 795
106,813111,311118, 584
118,430134,652158,254178,833184,548
196, 588211,425236,610246,257
Surplus ordeficit ( - )
734
738-462
- 2 735-2 ,602-3 ,630
-2 ,791-4 ,425- 2 777-1 ,177-3 ,862
-2 ,710-4 ,778
-19,396-53,812-46,138
-45,022-18,201
6,6008,8641,006
-2 ,2077,593
49-5 ,274
-1,17G
-3,0414,0873,249
-2 ,939-12,855
269-3 ,406-7,137-4 ,751-5 ,922
-1 ,596-3 ,796-8 ,702
-25,1613,236
- 2 , 845-23,033-38,783-25,472
i Estimate.Note.—Certain interfund transactions are excluded from receipts and outlays starting in 1932. For years prior to 1932 the
amounts of such transactions are not significant.Refunds of receipts are excluded from receipts and outlays starting in 1913.
Sources: Treasury Department and Office of Management and Budget.
269451-688 0—72 18
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B-64.—Federal budget receipts, outlays, financing, and debt, 1962-73
[Millions of dollars; fiscal years]
Description
Actual
1962 1963 1964 1965 1966 1967
RECEIPTS, EXPENDITURES, AND NET LEND-ING:
Expenditure account:Recei ptsExpenditures (excludes net lending)...
Expenditure account surplus ordeficit ( - )
Loan account:Loan disbursements.Loan repayments
Net lending.
Total budget:ReceiptsOutlays(expenditures and net lending).
Budget surplus or deficit (—)
BUDGET FINANCING:Net borrowing from the public or repay-
ment of borrowing (—)Other means of financing
Total means of financing.
OUTSTANDING DEBT, END OF YEAR:Gross Federal debt
Held by the public
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
- 3 4 7
10,9119,662
1,249
116,833118,430
-1,596
4,061-2,465
1.596
323,154261,614
130,856130,820
36
14,62810,796
3,832
130,856134,652
-3,796
3,076720
3,796
329,474264,690
149,552153,201
-3,649
17,67612,623
5,053
149, 552158,254
-8, 702
2,8385,863
8,702
341,348267, 529
BUDGET RECEIPTS.
Individual income taxesCorporation income taxesEmployment taxes and contributionsUnemployment insuranceContributions for other insurance and
retirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts l
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
BUDGET OUTLAYS (EXPENDITURES ANDNET LENDING).. . .
National defense.International affairs and financeSpace research and technologyAgriculture and rural developmentNatural resources and environmentCommerce and transportationCommunity development and housingEducation and manpowerHealthIncome securityVeterans benefits and servicesInterestGeneral governmentGeneral revenue sharingAllowancesUndistributed intragovernmental trans-
actions
99,676
45,57120,52312,8353,337
87512,5342,0161,142843
79,70322,652-2,680
106,813
51,0974,4921,2574,1221,6755,430
5891,4061,130
22, 5305,6258,3211,650
106,560
47,58821,57914,7454,112
94513,1942,1671,2051,023
83,55025,799-2,788
111,311
52,2574,1152,5525,1381,4985,765-8801,5021,379
24,0815.5209,2151,810
112,662
48,69723,49316,9594,045
1,00813,7312,3941,2521,084
87,20528, 518-3,061
118,584
53, 5914,1174,1705,1841,9666,511-1851,7511,716
25,1105,6819,8102,040
116,833
48,79225,46117,3593,819
1,08114, 5702,7161,4421,594
90,94329, 230-3,339
118,430
49,5784,3405,0914,8052,0567,399
2882,2841,704
25,7025,72210,3572,210
130,856
55,44630,07320,6623,777
1,12913, 0623,0661,7671,875
101,42732,997-3, 568
134,652
56,7854,4905,9333,6762,0367,1712,6444,2582,509
29,0165,920
11,2852,292
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
-2,513
86.59422.893
-2,680
-2,644
90,14123.953
-2,788
-2,877
95,76125, 884
-3,061
-3,109
94. 80726,962
-3,339
-3,364
106,51231,708
-3,568
149, 552
61, 52633,97127,8233,659
1,86713,7192,9781,9012,108
111,83542,935
-5,218
158,254
70,0814,5475,4234,3731,8787,5942,6165,8536,66731,1646,89712, 5882,510
-3,936
126,77936,693-5,218
See footnotes at end of table.
270
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-64.—Federal budget receipts, outlays, financing, and debt, 1962-73—Continued[Millions of dollars; fiscal years]
Description
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(expendituresand net lending)
Budget surplus or deficit (—)
BUDGET FINANCING:Net borrowing trom 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
Actual
1968
153,671172,802
-19,131
20, 32714,297
6,030
153,671178,833
-25,161
23,1002,061
25,161
369, 769290,629
1969
187,784183, 072
4,712
13,11711,640
1,476
187,784184, 548
3,236
-1,044-2,192
2-3,236
367,144279, 483
1970
193, 743194,456
-714
8,3136,182
2,131
193, 743196, 588
- 2 , 845
3,814-969
2 2,845
382.603284, 880
1971
188,392210,308
-21,916
8,1317,014
1,117
188,392211,425
-23, 033
19, 4483,585
23, 033
409,467304,328
Estimate
1972
197, 827235, 597
-37,770
8,2587,246
1,013
197, 827236,610
-38, 783
39,500-717
38, 783
455,784343,828
1973
220, 785246,463
-25,678
8,3548,560
-206
220, 785246, 257
-25, 472
27,500-2,028
25, 472
493,165371,328
BUDGET RECEIPTS.
Individual income taxesCorporation income taxesEmployment taxes and contributionsUnemployment insuranceContributions for other insurance and re-
tirementExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts i
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
BUDGET OUTLAYS (EXPENDITURES AND NETLENDING)
National defenseInternational affairs and financeSpace research and technologyAgriculture and rural developmentNatural resources and environmentCommerce and transportationCommunity development and housingEducation and manpowerHealthI ncome secu rityVeterans benefits and servicesInte restGeneral governmentGeneral revenue sharingAllowancesUndistributed intragovernmental trans-
actions
MEMORANDUM:Federal fundsTrust fundsIntragovernmental transactions.
153,671
68,72628 66529,224
3,346
2,05214,0793,0512,0382,491
114,72644,716-5,771
178, 833
80, 5174,6194,7215,9401,7228,0944,0766,7399,60834,1086,88213,7442,561
187,784
87,24936,67834,2363,328
2,35315,2223,4912,3192,908
143,32152, 009- 7 , 547
184,548
81,2323,7854,2476.2182,1697,9211,9616,52511,61137,6997,64015,7912,866
193, 743
90,41232, 82939, 1333,464
2,70115.7053.6442,4303,424
143,15859, 362-8,778
196,588
80, 2953,5703,7496,2012,5689,3102,9657,28912,90743, 7908,67718,3123,335
188, 392
86, 23026,78541,6993,674
3,20516,6143,7352,5913,858
133,78566,193
-11,585
211,425
77,6613,0953,3815,0962,71611,3103,3578,65414,46355,7129,77619,6093,970
-4,499
143,10541,499-5,771
-5,117
148,81143,284- 7 , 547
-6,380
156,30149, 065
- 8 , 778
-7,376
163,65159, 361
-11,586
197, 827
86, 50030,10046, 3674,364
3,36115, 2005,2003,2103,525
137,78873,163
-13,124
236, 610
78, 0303,9603,1807,3454,376
11, 8724,039
10,14017,02465, 22511,12720, 067
5,3022,250
550
- 7 , 877
182, 51967, 215
-13,124
220, 785
93,90035, 70055,113
5,016
3,55416, 3004,3002,8504,052
150,61783,214
-13 ,046
246, 257
78, 3103,8443,1916,8912,450
11, 5504,844
11,28118,11769,65811,74521,161
5,5315, 0001,275
- 8 , 590
186, 78472,519
-13 ,046
1 Includes both Federal funds and trust funds.' Excludes changes due to ^classification and to conversion of mixed-ownership enterprises to private ownershjp. (See
footnotes to Table 9, "Budget of the United States Government for the Fiscal Year Ending June 30, 1971," and footnotesto Table 10. "Budget of the United States Government for the Fiscal Year Ending June 30,1972.")
Sources: Treasury Department and Office of Management and Budget.
271
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T A B L E B~65.—Relation of the Federal budget to the Federal sector of the national income andproduct accounts, 1970-73
[Billions of dollars; fiscal years]
Receipts and expenditures
RECEIPTS
Total receipts, budget.
Government contribution for employee retire-ment (grossing)
Other netting and grossingAdjustment to accrualsOther
Federal sector, national income and product accounts,receipts
EXPENDITURES
Total outlays, budget.
Loan accountFinancial transactions in the expenditure account.Government contribution for employee retirement
(grossing)Other netting and grossingDefense timing adjustmentOther
Federal sector, national income and product accounts,expenditures
Actual
1970
193.7
2.71.4
- 3 . 1
194.6
196.6
- 2 . 1- 1 . 8
2.71.4.7
- . 3
197.2
1971
188.4
3.11.51.1
- . 1
194.0
211.4
- 1 . 1- 2 . 1
3.11.5
- . 7.4
212.4
Estimate
1972
197.8
3.21.5.4
- . 1
202.8
236.6
- 1 . 0- 1 . 9
3.21.5
- . 7.0
237.8
1973
220.8
3.51.72.5
- . 5
227.9
246.3
.2- 1 . 5
3.51.73.02.7
255.9
Note.—See Special Analysis A, "Budget of the United States Government for the Fiscal Year Ending June 30, 1973," fordescription of these categories.
Sources: Treasury Department, Office of Management and Budget, and Department of Commerce (Bureau of EconomicAnalysis).
272
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T A B L E B-66.—Receipts and expenditures of the Federal Government sector of the national incomeand product accounts, 1948—73
[Billions of dollars]
Year or quarter
Receipts
Total
43.640.042 060.865.169.365.867.275.880.777.985.494.895.3
104.2110.2115.5120.5132.8147.2160.6190.3194.6194.0202.8227.9
43.338.949.964.067.?70.063.872.177.681.678.789.796.598.3
106.4114.5115.0124.7142.5151.2175.0196.9191.5198.7
Per-sonaltaxandnon-tavla A
re*ceipts
20.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.357.664.571.490.093.887.791.398.3
19.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.861.767.579.794.992.289.0
Cor-po-rate
profitstaxac-
cruals
11.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.525.727.731.031.233.737.332.832.533.040.7
11.89.8
17.021.518.519.517.020.620.620.218.022.521.721.822.724.626.429.332.130.736.736.330.633.5
Indi-rect
busi-nesstaxandnon-taxac-cru-als
7.98.08.29.59.7
10.710.410.010.811.711.611.913.213.314.215.015.616.915.715.817.118.619.220.319.820.7
8.08.08.99.4
10.310.99.7
10.711.211.811.512.513.513.614.615.316.116.515.716.318.019.019.320.2
Con-tribu-tionsfor
socialinsur-ance
4.64.85.56.6
\ \7.88.7
10.211.712.213.816.718.119.922.123.524.628.535.738.344 348.853.558.768.2
4.54.95.97.17.47.48.19.3
10.612.212.414.817.718.220.523.123.825.133.036.740.746.849.356.0
Expenditures
Total i
30.939.642.444.666.075.874.267.369.876.083.190.991.398.0
106.4111.4116.9118.5131.9154.5172.5185.9197.2212.4237.8255.9
34.941.340.857.871.077.069.768.171.979.688.991.093.0
102.1110.3113.9118.1123.5142.8163.6181.5189.5205.1222.0
Pur-chases
ofgoodsandserv-ices
13.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.764.471.785.394.999.399.295.3
103.0107.0
16.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.798.899.297.297.6
Transferpayments
Toper-sons
8.78.1
11.38.18.59.3
10.512.112.814.417.819.820.623.625.126.427.328.331.837.242.748.554.967.577.084.5
7.68.7
10.88.58.89.5
11.512.413.415.719.520.121.524.925.527.027.830.333.440.046.150.461.273.4
Tofor-eign-ers
(net)
2.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12.22.22.32.22.12.22.02.42.82.9
3.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.22.32.22.12.12.22.5
Grants-in-aid
to Stateandlocal
govern-ments
1.82.12.42.42.52.82.93.03.23.74.76.26.86.97.68.49.8
10.912.714.817.819.422.627.036.240.6
2.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1
10.411.114.415.818.720.324.429.7
Netin-
ter-estpaid
4.24.34.44.64.84.85.04.95.15.55.75.97.06.86.87.58.18.59.09.9
10.912.314.014.213.414.8
4.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.78.38.79.5
10.211.713.114.613.7
Subsi-dieslesscur-rentsur-plusof
gov-mententer-prises
0.5.8
1.01.3L.I.9
L.OL.3L.72.82.52.42.33.23.83.63.84.14.55.14.14.14.65.95.46.0
.7
.81.21.31.0.8
1.11.52.42.62.72.12.53.84.03.64.24.35.44.64.14.65.55.0
Sur-plusor
defi-cit
na-tion-
alin-
comeand
prod-uctac-
counts
12.7.4
- . 516.2
- 1 . 0- 6 . 5- 8 . 5- . 16.04.7
- 5 . 1- 5 . 5
3.5- 2 . 7- 2 . 1- 1 . 2- 1 . 4
2.0.9
- 7 . 3-11.9
4.4- 2 . 7
-18.4-35.0-28.0
8.4- 2 . 4
9.16.2
- 3 . 8- 7 . 0- 5 . 9
4.05.72.1
-10.2- 1 . 2
3.5- 3 . 8- 3 . 8
.7- 3 . 0
1.2- . 2
-12.4- 6 . 5
7.3-13.6-23.3
Fiscal year:1948194919501951 _19521953195419551956195719581959196019611962196319641965196619671968196919701971 P1972 21973 2
Calendar year:1948194919501951_19521953195419551956 _195719581959196019611962196319641965196619671968196919701971 *>
1970: I . . .I I . .III.IV.
1971: I . . .
IV*
191.6193.8191.3189.3196.5197.7197.8
Seasonally adjusted annual rates
93.894.589.791.086.687.688.893.0
30.630.931.929.034.134.833.2
19.019.119.719.420.719.919.720.7
48.249.250.049.8
55.155.556.157.2
196.1207 9206.7209.8212.7221.4224.6229.4
100.296.896.195.996.496.097.6
100.6
54.063.362.465.067.475.375.375.6
2.12.02.32.42.22.52.72.6
23.023.924.925.927.029.530.232.0
14.314.315.014.814.013.313.913.8
5.05.55.85.7
5.84.84.84.7
- 4 . 5-14.1-15.4-20.5-16.2-23.7-26.7
1 Wage accruals less disbursements have been subtracted from total. These were (in billions of dollars, at seasonallyadjusted annual rates) 2.5, - 2 . 1 , -0 .4 , and .0 in the 4 quarters of 1970, respectively, and .0 in each of the 4 quarters
2 Estimates.
Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.
273
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TABLE B-67.—Public debt securities by kind of obligation, 1946-71
[Billions of dollars]
End of year or month
1946— -.194719481949
19501951.. .1952195319541955 . . .1956195719581959
1960196119621963196419651966 . . . -19671968 . . -1969
19701971
1970- JanFebMarAprMayJune
JulyAugSept . .OctNovDec
1971- JanFeb .MarAprMayJune
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
389.2424.1
367.6368.8372.0367.2371.1370.9
376.6380.9378.7380.2383.6389.2
388.3390.7391 7391.9396 8398.1
405.3414.6412.3411.9414 6424.1
Interest-bearing public debt
Marketable public issuesby maturity class
Within1 year
54.849.644.649.4
49.447.157.773.962.861.768.675.372.679.9
75.385.987.389.488.593.4
105.2104.4108.6118.1
123.4119.1
118.6117.8121.3117.1109.4105.5
110.8109.8108.7111.6120.1123.4
123.4115.5114 9113.5114.0112.8
115.0116.7117.7118.0108.9119.1
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
104.9123.0
93.396.495.295.2
105.5105.5
105.5109.2109.2109.1104.9104.9
104.9113.2113.2113.2112.5113.6
113.6114.0113.3115.3125.5123.0
10yearsandover
60.160.057.753.9
52.538.828.730.330.232.932.932.032.024.6
24.225.420.124.023.625.625.425.124.824.4
19.419.9
24.421.721.721.721.621.6
21.521.521.521.419.519.4
19.419.419.319.219.219.1
19.119.019.018.920.019.9
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
78.185.7
70.171.472.171.873.376.3
76.177.576.775.475.678.1
77.778.980.079.781.782.8
84.787.086.084.384.485.7
U.S.sav-ings
bonds 3
49.852 155.156.7
58.057.657.957.757.757.956.352.551.248.2
47.247.547.548.849.750.350.851.752.352.2
52.554.9
52.152.152.052.052.052.0
52.052.152.152.252.452.5
52.652.853.053.253.453.6
53.854.054.254.454.654.9
For-eignand
inter-na-
tional
0.5.7
1.31.82.41.53.24.44.7
6.517.4
4.64.95.24.94.85.6
6.26.36.26.06.76.5
6.16.56.98.9
11.712.0
15.019.717.916.816.917.4
Other
6 77 46 39.3
10 120.919.619 317 712.711.910 49.27.8
6 35 34.63.83 52.92.72 62.62.5
2.42.4
2.52.52.52.52.52.5
2.52.52.52.52.52.4
2.42.42 42.42.42.4
2.42.42.42.42."42.4
Maturedpublicdebtanddebtbear-ing nointer-
est
1 52 72 22.1
2 42 32.12 33 03 02 42 02 13 1
3 43 54 34.14 44 44.33 52 92.0
1.91.8
2.02.02.02.11.91.9
1.92.01.91.92.01.9
1.92.01.91.91.91.8
1.81.81.81.81.91.8
i Issued to U.S. Government accounts. These accounts also held $0.1 billion of public marketable and nonmarket-able issues on December 31,1971.
* Includes sales of U.S. savings notes from May 1967 through June 30, 1970.
Source: Treasury Department.
274
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TABLE B-68.—Estimated ownership of public debt securities, 1939-71[Par values,i billions of dollars]
End of year ormonth
1939
1940194119421943194419451946 .194719481949 .
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
19701971
1970: JanFebMarAprMayJuneJuly .AugSept . . .OctNovDec
1971: Jan. .FebMarAprMayJuneJuly...AugSeptOctNovDec
Total public debt securities *
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
389.2424.1
367.6368.8372.0367.2371.1370.9
376.6380.9378.7380.2383.6389.2
388.3390.7391.7391.9396.8398.1
405.3414.6412.3411.9414.6424.1
Held
Govern-mentac-
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
97.1106.0
88.689.490.490.292.395.2
94.896.495.594.494.697.1
96.798.098.899.1
101.8102.9
104.9107.3106.5104.7104.7106.0
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
62.170.2
55.555.855.856.557.357.7
58.659.960.060.061.262.1
61.862.564.263.764.865.5
65.866.967.667.267.870.2
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
229.9247.9223.5223.6225.9220.5221.4218.0223.2224.6223.2225.8227.9229.9
229.9230.2228.7229.1230.2229.7
234.6240.4238.2240.0242.1247.9
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
62.167.267.164.263.960.757.463.866.056.8
62.765.054.653.055.554.553.952.654.357.356.358.459.362.7
61.761.361.860.559.461.0
60.559.560.060.961.565.0
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
18.117.417.416.816.515.614.112.711.610.0
9.89.3
10.210.09.99.99.89.7
9.910.19.99.79.69.8
10.010.19.69.69.79.4
9.69.59.39.39.29.3
Othercorpo-
rations4
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
18.718.518.618.718.215.814.912.214.213.3
10.513.213.913.212.711.912.511.112.112.010.411.210.910.5
11.110. 210.79.99.6
10.1
11.610.910.011.112.013.2
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
18 719.020 121 121.222.924 324.124.425.4
23.120.5
26 126.225 524.725.224.624.324.524.224.423.423.1
23.224.022.821.821.821.4
21.921.121.020.820.620.5
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
66.165.966.068.269.872.174.674.075.880.9
81.977.582.182.883.282.783.082.5
82.982.382.782.382.481.9
81.380.679.479.078.078.0
78.278.177.977.777.677.5
Miscel-laneousinves-tors7
0.5
.81.33.56.09.3
11.811.411.912.512.9
13.613.714.716.116.918.318.919.118.924.3
26.526.930.231.633.033.433.935.736.635.5
42.062.436.638.439.136.837.037.639.738.439.739.842.242.042.544.044.348.351.949.852.661.360.160.361.262.4
i U.S. savings bonds, series A-F and J, and U.S. savings notes are included at current redemption value.1 Not all of total shown is subject to statutory debt limitation.* Includes commercial banks, trust companies, and stock savings banks in the United States and Territories and island
possessions; figures exclude securities held in trust departments. Since the estimates in this table are on the basis of parvalues and include holdings of banks in United States Territories and possessions, they do not agree with the estimatesin Table B-53, which are based on book values and relate only to banks within the United States.
* Exclusive of banks and insurance companies.• 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 International Development Association,the Inter-American Development Bank, and various United Nations' funds, in special non-interest-bearing notes andbonds issued by the U.S. Government.
Source: Treasury Department.
275Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-71
End of year or month
Fiscal year:1946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971
1970: Jan .FebMarApr _ .May.June --
Ju ly . . . . . . .AugSept. . . . . .OctN o v . . . .Dec
1971: Jan. .FebMarAprMay.-June
JulyAugSeptOctNovDec
Amountout-
standing
189,606168,702160,346155, 147
155,310137,917140,407147,335150,354
155,206154,953155,705166,675178,027
183,845187,148196,072203,508206,489
208,695209,127210,672226,592226,107
232,599245, 473
236,321235,968238, 195233, 998236,561232,599
237,821240,511239,330242,180244,447247,713
247, 667248,092247, 457245, 888245, 635245, 473
247, 649249, 654249, 931252, 240254,456262, 038
Within1 year
61,97451,21148,74248,130
42,33843,90346,36765,27062,734
49,70358,71471,95267,78272,958
70,46781,12088, 44285, 29481,424
87,63789,13689,648
106,407103,910
105, 530112,772
118,633117,796121,272117,148109,432105,530
110,813109, 830108,671111,636120,125123,423
123,418115,534114,940113,466113,959112,772
115,014116,664117,662118,007108,911119, 141
r
1 to 5years
Maturity class
5 to 10years
10 to 20years
Millions of dollars
24,76321,85121,63032,562
51,29246, 52647,81436, 16129,866
39,10734,40140, 66942, 55758, 304
72, 84458,40057,04158,02665,453
56,19860,93371,42464, 47062,770
89,61589,074
73,29477,10475, 88975, 85589,63189,615
89,61491,07591,06690, 99282,30282,318
82,31686,01186,02585,99088,00489, 074
89, 07792, 86590,91592,94096, 20493, 648
41,80735, 56232,26416,746
7,7928.707
13,93315,65127,515
34,25328,90812,32821,47617,052
20,24626,43526, 04937,38534,929
39,16933, 59624,37830,75434, 837
15,88224,503
20, 02619,32919,32919,32915,87915, 882
15,87618, 12218, 14018,13822,55522,553
22, 55327, 19727,19927,199
17,46118,59716,22922,821
28,03529.97925,70028.66228,634
28.61328, 57826,40727,65221,625
12,63010,2339,3198,3608,355
8,4498,4398,4258,4078,374
10, 5248,455
8,35410, 55710,55110, 54210, 53410,524
10,51410, 50710,50110,4938,5668,556
8,5428,5298,5138.491
24,502 8,47224,503 8.455
24, 50321,11522, 39722, 39729, 32129, 321
8,4358,4208,4048,3859,5669,530
20 yearsand over
43, 59941,48141,48134, 888
25.8538,7976,5941,5921,606
3,5304,3514,3497,2088,088
7,65310,95015,22114,44416,323
17,24117,02316,79716,55316,217
11,04810,670
16,01411,18211,15511,12411,08511,048
11,00410,97810,95110,92210,90010,863
10,83910,82110,78010, 74210, 69910, 670
10, 62210, 59010, 55310,51110,45410, 397
Average
Years
9998
86555
55454
44455
54444
33
333333
333333
33
333
333333
length
Months
1529
27846
104937
46
1110
411720
86
776688
6
6
64
476666
45
364
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.
276
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B-70.—Receipts and expenditures of the government sector of the national income and productaccounts, 1929-71
[Billions of dollars]
Calendar year or quarter
1929193019311932193319341935 . . .19361937193819391940 . . .1941194219431944194519461947194819491950195119521953195419551956 . . .1957195819591960196119621963 . . . .1964196519661967196819691970 -1971 v
1970: 1 . .IIIIIIV . . .
1971: 1 . .IIIIIIV v
Total government
Re-ceipts
11.310.89.58.99.3
10.511.412.915.415.015.417.725.032.649.251.253.250.956.858.956.068.784.889.894.389.7
100 4109.0115.6114.7128.9139.8144.6157.0168.8174.1189.1213.3228.9263.5295.6300.5320.8
Ex-pendi-tures
10.311.112 410.610.712 913.416.115 016.817.618.428.864 093.3
103.092 745.542.450.359.160.879.093.7
101.296.797 6
104.1114.9127.2131.0136.1149.0159.9166.9175.4186.9212.3242.9270.3288.2313.6341.1
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- 3 1 4-44 .1- 5 1 . 8- 3 9 5
5 414.48.5
- 3 27 85.8
- 3 . 8- 6 9- 7 . 0
2 74.9.7
- 1 2 52 13.7
- 4 3- 2 . 9
1.8- 1 . 4
2.21 1
- 1 3 . 9- 6 . 8
7.4- 1 3 . 1- 2 0 . 3
Federal Government
Re-ceipts
3.83.02 01.72.73 54.05.07 06 56.78.6
15.422 939.341.042 539 143.243.338 949 964.067.270 063.872 177.681.678 789.796.598 3
106 4114.5115.0124.7142 5151.2175 0196.9191.5198.7
Ex-pendi-tures
2.62.84.23.24.06 46.58.77.48.68.9
10.020.556.185.895.584.635.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0
102.1110.3113.9118.1123.5142.8163.6181.5189.5205.1222.0
Sur-plus ordeficit
nationalincome
andprod-
uct ac-counts
1.2.3
- 2 1- 1 . 5—1.3- 2 9- 2 . 6- 3 . 6
— 4- 2 1- 2 . 2- 1 . 3- 5 . 1
- 3 3 1- 4 6 . 6- 5 4 . 5- 4 2 1
3 513.48.4
- 2 49.16.2
- 3 . 8- 7 0- 5 . 9
4 05 72.1
- 1 0 . 2- 1 . 2
3.5- 3 8- 3 8
-3!o1.2
- 2- 1 2 . 4
- 6 . 57.3
- 1 3 . 6- 2 3 . 3
State and localgovernment
Re-ceipts
7.67.87 77.37.28 69.18.69 19.39.6
10.010.410 610.911.111 612.915.317.619.321.123.325.227 228.831.434.738.241 646.049.953.658.663.469.575.585 293.5
107.1119.0133.4151.8
Ex-pendi-tures
7.88.48 57.67.28 18.68.18 49 09.69.39.18 88.48.59 0
11.014.317.420.022.323.725.327.029.932 735.639.544 046.849.654.157.662.267.874.583 995.1
107.5118.9132.9148.8
Sur-plus ordeficit
nationalincome
andprod-
uct ac-counts
- 0 . 2- . 6- 8- . 3- . 1
5.6
'74
O).6
1.31 82.52.72 61.91.0.1
- . 7- 1 . 2
- 1 . 1—1.3- . 9
- 1 . 4- 2 . 3
- . 8.2
- . 5.9
1.21.71.01.3
- 1 . 6- . 3
.1
.53.0
Seasonally adjusted annual rates
296.6301 8301.7301.9
312.8317.8322.0
300.0314.0316.9323.6
329.9338.7344.1351 7
- 3 . 4- 1 2 2- 1 5 . 2- 2 1 . 7
- 1 7 . 1—20.9—22.2
191.6193 8191.3189.3
196.5197.7197.8
196.1207.9206.7209.8
212.7221.4224.6229 4
- 4 . 5- 1 4 . 1- 1 5 . 4- 2 0 . 5
—16.2—23.7—26.7
128.0131.9135.3138.5
143.4149.6154.4
126.9130.0135.1139.8
144.2146.8149.8154 4
1.11.9.2
- 1 . 3
— 82.84.6
1 Surplus of $32 million.'Deficit of $41 million.Note.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and local
receipts and expenditures. Total government receipts and expenditures have been adjusted to eliminate this duplication.Source: Department of Commerce, Bureau of Economic Analysis.
277
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B-71.—Receipts and expenditures of the State and local government sector of the nationalincome and product accounts, 1946-71
[Billions of dollars]
Calendaryearorquarter
1946194719481949
19501951195219531954
1955195619571958 . . .1959
19601961196219631964
19651966196719681969
19701971*
1970: 1IIIIIIV
1971: 1 . . .IIIIIIVP
Receipts
Total
12.915.317.619.3
21.123.325 227.228.8
31 434 738.241.646.0
49.953.658.663.469.5
75.585.293.5
107.1119.0
133.4151.8
128.0131.9135.3138.5
143.4149.6154.4
Per-sonaltaxand
nontaxreceipts
1.51.82.12.4
2.62.93 13.43.7
4 14.75.25.66.3
7.37.78.79.4
10.8
11.813.715.518.321.3
23.626.8
23.023.523.824.2
25.026.327.228.8
Cor-porateprofits
taxaccruals
0.5.6.7.6
.8
.9
.8
.8
.8
1-00n.0
.2
.447q
2.12.22.43.23.4
3.54.3
3.53.53.73.3
4.24.34.3
Indirectbusi-nesstaxand
nontaxaccruals
9.310.612.113.3
14.515.817.318.719.7
21.423.625.527.028.9
31.734.136.939.442.3
45.949.954.160.666.7
73.681.9
70.772.874.576.4
78.380.483.385.6
Contri-butions
forsocialinsur-ance
0.5.6.7.8
1.01.21.31.51.7
1 82.02.32.52.7
3.03.23.53.84.1
4.55.05.76.47.3
8.39.2
Fed-eral
grants-in-aid
1.11.72.02.2
2.32.52.62.82.9
3.13.34.25.66.8
6.57.28.09.1
10.4
11.114.415.818.720.3
24.429.7
Expenditures
Total
11.014.317.420.0
22.323.725.327.029.9
32.735.639.544.046.8
49.654.157.662.267.8
74.583.995.1
107.5118.9
132.9148.8
Pur-chases
ofgoodsand
serv-ices
9.812.615.017.7
19.521.522.924.627.4
30 133.036.640.643.3
46.150.253.758.263.5
70.179.089.4
100.8110.6
122.2135.4
Trans-ferpay-
mentsto
per-sons
1.72.32.92.9
3.53.03 23.33.4
3 73 84.24.64.8
5.15.55.76.06.5
6.97.78.7
10.011.8
14.417.0
Seasonally adjusted annual rates
7.98.28.48.7
8.99.19.39.5
23.023.924.925.9
27.029.530.232.0
126.9130.0135.1139.8
144.2146.8149.8154.4
117.1119.7124.0127.9
131.6133.6136.2140.3
13.314.014.815.6
16.416.917.217.7
Netinterest
paid
0.3.3.3.3
.3
.33
.3
.4
55
.5
.6
.7
.8
.8
.8
.7
.5
.3
.2
.0
.0
.1
.5
0.1.1.1.2
.3
.4
.5
.6
Less:Currentsurplusof gov-
ern-mententer-prises
0.7.8.8.9
.91.11 1
?4
788
2.0
2.22.32.62.82.9
3.03.13.23.43.5
3.84.1
3.63.83.94.0
4.14.14.14.2
Surplusor
deficit<-),
nationaincome
andprod-
uct ac-counts
1 91 0.1
-1 .2- . 4
(i)U 1- 1 . 1
—1 3- 9
-1 .4- 2 . 3- . 8
2- . 5
.91.21.7
1.01.3
-1 .6- . 3
.1
.53.0
1.11.9.2
- 1 . 3
- . 82.84.6
i Deficit of $41 million.Source: Department of Commerce, Bureau of Economic Analysis.
278
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-72.— State and local government revenues and expenditures, selected fiscal years, 1927-70[Millions of dollars]
Fiscal year 1
General revenues by source 2
TotalProp-ertytaxes
Salesand
grossre-
ceiptstaxes
Indi-vidualincometaxes
Corpo-rationnet
incometaxes
Reve-nue
fromFederalGovern-
ment
Allotherreve-nues3
General expenditures by function 2
Total Edu-cation
High-ways
Publicwel-fare
Allother *
1927-
1932..1934..1936-.1938..
1940..1942..1944..1946..1948..
1950..1952..1953—1954..
1955..1956-1957-1958..1959..
1960..1961-1962..1963..
1962-63*1963-64*.1964-65*
1965-66«..1966-67 «.
7,271
7,2677,6788,3959,228
9,60910,41810,90812,35617,250
20,91125,18127,30729,012
31,07334,66738,16441,21945,306
50,50554,03758,25262,890
62,26968,44374,000
7480153218
224276342422543
788998
1,0651,127
1,2371,5381,7541,7591,994
2,4632,6133,0373,269
3,2673,7914,090
4,7605,82617,3081
, . , - . - . -, 8,9081969-70 5 130,756 34,054 30,3221 10,8121
4,730
4,4874,0764,0934,440
4,4304,5374,6044,9866,126
7,3498,6529,3759,967
10,73511,74912,86414,04714,983
16,40518,00219,05420,089
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
19,833 14,44621,241 15,76222,583 17,118
83,036 24,67091,197 S 26,047
19,08520,530I
1967-685 101r264j 27,747 22,9111968-69 5 1114, 550 30,673) 26,519
92
7949113165
156272451447592
593846817778
744890984
1,0181,001
1,1801,2661,3081,505
1,5051,6951,929
2,0382,2272,5183,1803,738
116
2321,016948800
945858954855
1,861
2,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9747,1317,8718,722
8,66310,00211,029
13,21415,37017,18119,15321,857
1,793
1,6431,4491,6041,811
1,8722,1232,2692,661.3,685
4,5415,7636, 25216,897
7,210
7,7657,1817,6448,757
9,2299,1908,86311,02817,684
22,78726, 09827,91030,701
7,584 33,7248,465! 36,711n ocn An iic9,2509,69910,516
11,63412,56313,48914,850
14,55615,95117,250
19,26921,19723,598 102;26,11829,973
40,37544,85148,887
51,87656,20160,20664,816
63,97769,30274,546
82,84393,350.02,411116,728131,332
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
23,72926,28628,563
33,28737,91941,15847,23852,718
1,809
1,7411,5091,4251,650
1,5731,4901,2001,6723,036
3,8034,6504,9875,527
6,4526,9537,8168,5679,592
9,4289,844
10,35711,136
11,15011,66412,221
12,77013,93214,48115,41716, 427
151
444889827
1,069
1,1561,2251,1331,4092,099
2,9402,7882,9143,060
3,1683,1393,4853,8184,136
4,4044,7205,0845,481
5,4205,7666,315
6,7578,2189,85712,11014,679
3,015
3,2692,9523,2153,547
3,8623,8893,7374,5917,170
8,86710, 34210,61911,557
12,19713,39914,94016,54717,876
19,32521,06322, 54924,423
23,67825, 58627,447
30,02933,28136,91541,96347, 508
1 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.8 Includes licenses and other taxes and charges and miscellaneous revenues.Mncludes 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 B-62 for net debt of State and local governments.
Source: Department of Commerce, Bureau of the Census.
279
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CORPORATE PROFITS AND FINANCETABLE B-73.—Profits before and after taxes, all private corporations, 1929—71
[Billions of dollars]
Year orquarter
1929.1930.1931.1932.1933.1934.1935.1936.1937.1938.1939.1940.1941.1942.1943.1944.1945.1946.1947.1948.1949.1950.1951.1952.1953.1954.1955.1956.1957.1958.1959.1960.1961.1962.1963.1964.1965.1966.1967.1968..1969..
1970...1971 i
1970: I .
IV.
1971: I . . .
Corporate profits (before taxes) andinventory valuation adjustment
Allin-
dus-tries
10.57.02.0
- 1 . 3- 1 . 2
1.73.45.66.84.96.39.8
15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.749.950.355.758.966.376.182.478.784.378.670.880.7
Manufacturing
Total
5.2
3.91.3
- . 5- . 41.12.13.23.82.33.3
5.59.5
11.813.813.29.79.0
13.617.616.220.924.621.622.019.926.024.724.019.326.324.423.326.628.832.739.342.638.741.736.029.534.1
Dur-able
goodsIn-
dus-tries
2.61.5.0
-1 .0- . 4
.3
.91.71.7.8
1.7
3.16.47.28.17.44.52.45.87.58.1
12.013.211.711.910.514.312.813.39.3
13.612.011.414.115.817.822.824.020.722.418.413.016.2
Non-dur-able
goodsin-
dus-tries
2.62.41.3.5.0.8
1.11.52.11.61.7
2.43.14.65.75.95.26.67.8
10.08.1
8.911.49.9
10.19.4
11.811.910.710.012.712.411.912.513.014.916.618.618.019.317.516.617.9
Trans-porta-tion,com-muni-cation,
andpublic
utilities
1.8
1.2.5.2.0. 4.4.7.8.5
1.0
1.32.03.44.43.92.71.82.23.03.0
4.04.64.95.04.75.65.95.85.97.0
Allother
in-dus-tries
3.41.9
" g
- ! 8.3.9
1.72.22.12.03.03.75.16.26.76.78.59.9
12.511.612.713.513.3tt.613.415.215.615.815.918.4
7.5 17.97.9 19.18. 5 20. 59.5 I 20.6
10.111.111.910.810.610.0
8.08.4
23.525.627.929.132.032.7
33.338.2
Cor-po-rateprof-itsbe-fore
taxes
10.0
3.7- . 4
-2 .31.02.33.66.36.84.07.0
10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.1
49.750.355.459.466.877.884.279.887.684.275.485.2
Cor-po-rateratetavId Aliaiia-bil-itv 1ity *
1.4. 8.5. 4.5.7
1.01.41.51.01.42.87.6
11.414.112.910.79.1
11.312.510.417.822.319.420.317.721.621.721.219.023.723.023.124.226.328.331.334.333.239.939.734.137.7
Corporate profitsafter taxes
Total
8.6
2.9- . 9
-2 .7. 4
1.62.64.95.32.95.67.2
10.110.111.111.29.0
15.520.222.718.524.921.619.620.420.627.027.226.022.328.526.727.231.233.138.446.549.946.647.844.541.247.4
Divi-dends
5.85.54.12.52.02.62.84.54.73.23.84.04.44.34.44.64.65.66.37.07.28.88.68.68.99.3
10.511.311.711.612.613.413.815.216.517.819.820.821.423.624.425.025.5
Un-dis-trib-utedprof-its
2.8-2 .6-4 .9-5 .2-1 .6-1 .0
2!4.6
- . 21.83.25.75.96.66.54.49.9
13.915.611.316.013.011.011.51 1 . 316.515.914.210.815.913.213.516.016.620.626.729.125.324.220.016.221.9
Corpo-rate
capitalcon-
sump-tion
allow-ances J
4.24.34.34.03.83.63.63.63.63.73.73.84.25.05.46.16.44.75.87.07.9
8.810.311.513.215.017.418.920.822.023.524.926.230.131.833.936.439.543.046.851.356.261.9
Seasonally adjusted annual rates
69.871.573.069.079.582.580.0
31.131.530.625.034.435.033.0
14.314.913.88.8
17.217.014.8
16.716.516.816.217.218.118.1
8.27.87.98.18.48.58.5
30.532.234.535.936.739.038.6
75.675.878.571.683.086.985.8
34.134.535.632.338.339.137.5
41.541.342.939.244.847.848.2
25.024.925.225.025.625.425.725.3
16.616.417.714.319.222.422.5
54.455.756.758.0
59.461.062.764.4
Profitsplus
capitalcon-
sump-tion
allow-ances *
12.87.23.51.34.25.26.38.58.96.69.3
11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844.352.051.653.561.364.872.382.989.589.694.695.897.4
109.3
95.996.999.697.2
104.2108.7110.9
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.
Source: Department of Commerce, Bureau of Economic Analysis.
280
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B—74.—Sales, profits, and stockholders1 equity, all manufacturing corporations {exceptnewspapers1), 1947-71
[Billions of dollars]
Yequ
194719481949
1950
195?19531954
19551956195719581959
19601961196?19631964
196519661967196819691
1970
1969:
1970:
1971
ar orarter
. " 1
1'IIIllIV
1 . .-IIIIIIV
1 . . .III l l -
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
492.2554.2575.4631.9694.6
708.8
162.8176.1172.4183.3
170.4181.3176.7180.4
177.5191.4185.6
Profits
BeforeFederalincome *taxes
16.618.414.4
23.227.422.924.420.9
28.629.828.222.729.7
27.527.531.934.939.6
46.551.847.855.458.1
48.1
14.115.813.914.4
12.113.711.710.7
12.114.512.8
AfterFederalincometaxes
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
28.6
7.98.98.08.4
6.98.07.06.7
7.08.57.5
Stock-holders'equity 2
65.172.277.6
83.398.3
103.7108.2113.1
120.1131.6141.1147.4157.1
165.4172.6181.4189.7199.8
211.7230.3247.6265.9289.9
306.8
281.5288.0
! 293.0297.1
300.9306.0309.5310.8
314.0319.0323.2
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
257.0291.7300.6335.5366.5
363.1
86.094.289.896.5
87.295.489.790.8
90.799.892.6
Profits
BeforeFederalincometaxes
7.68.97.5
12.915.412.914.011.4
16.516.515.811.415.8
14.013.616.718.521.2
26.229.225.730.631.5
23.0
7.88.97.17.7
5.97.35.34.5
6.07.85.8
AfterFederalincometaxes
4.55.44,
6.
5
76.15.55
8875.8
7.
586
13981
06.989
11.
141614,1616
12.
6S6
54659
9
4.14.73.84.2
3.24.02.92.8
3.2
ii
Stock-holders'equity 2
31.34.
11
37.0
39.47.49.5?..54.
58.65.70.72.
92849
8258
77.9
82.84.89.93.98.
105.115.125.135.147.
155.
39135
42066
1
143.4146.8148.9151.1
152.2155.1156.6156.6
158.0160.3161.2
Sales(net)
84.190.484.6
95.1128.1128.0128.0125.7
136.3147.8154.1156.7168.5
171.8181.2194.4203.6216.8
235.2262.4274.8296.4328.1
345.7
76.881.982.786.8
83.286.087.089.6
86.991.693.1
Nondurable goodsindustries
Profits
BeforeFederalincometaxes
9.09.57.0
10.312.110.010.49.6
12.113.212.411.313.9
13.513.915.116.418.3
20.322.622.024.826.6
25.2
6.36.96.86.6
6.26.46.46.2
6.16.87.0
AfterFederalincometaxes
5.66.24.6
6.15.75.25.55.6
7.07.87.56.98.3
8.28.59.2
10 011.6
13.014.614.415 516.4
15.7
3.84.24.24.2
3.74.04.04.0
3.84.24.3
Stock-holders'equity *
34.038.140.6
43.551.153.955.758.2
61.366.470.674.679.2
83.187.792.396.3
101.3
106.3115.1122.6130.3142.3
151.7
138.0141.2144.1146.0
148.7151.0152.9154.2
156.0158.7162.0
1 Includes newspapers beginning 1959.3 Annual data are average equity for the year (using four end-of-quarter figures).
Note.—For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for ManufacturingCorporations," Federal Trade Commission and Securities and Exchange Commission.
Data are not necessarily comparable from one period to another due to changes in accounting procedures, industryclassifications, sampling procedures, etc. Specific information about the effects of the more significant changes and re-visions is contained in the following issues of the "Quarterly Financial Report": third quarter 1953, third quarter 1956,first quarter 1959, and first quarter 1965.
Sources: Federal Trade Commission and Securities and Exchange Commission.
281
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TABLE B-75.—Relation of profits after taxes to stockholders* equity and to sales, all manufac-turing corporations {except newspapers 0, by industry group, 1950-71
Year orquarter
1950195119521953. . . .1954195519561957.1958. . . .1959
1960196119621963 . .1964196519661967196819691
19701970: 1
III I I . . . .IV
1971: 1II.III . . . .
195019511952 . . .19531954 .1955195619571958 . . .1959
1960196119621963. . .196419651966196719681969» .19701970: 1
IIIllIV
1971: 1III I I—.
Allman-ufac-tur-ingcor-
pora-tions(ex-cept
news-pap-ers!)
Durable goods industries
Totaldur-
able 2
Mo-tor
vehi-clesand
equip-ment
Air-craftand
parts
Elec-tricalma-
chin-ery,
equip-ment,andsup-plies
Ma
ery(ex-
elec-trical)
Fab-ri-
catedmetalprod-ucts
Pri-maryironandsteelin-
dus-tries
p. ;
fpr-
ruus
dus-
Stone,clay,and
glassprod-ucts
Fur
fiv
Lum-berand
woodprod-ucts(ex-cept
furni-ture)
In-stru-mentsandre-
latedprod-ucts
Mis-cella-neousman-ufac-tur-inff(in-
clud-ing
ord-nance)
Ratio of profits after Federal income taxes (annual rate) to stockholders' equity—percent3
15.412.110.310.59.9
12.612.310.98.6
10.4
9.28.99.8
10.311.613.013.411.712.111.5
9.39.2
10.49.08.78.9
10.79.3
7.14.84.34.34.55.45.34.84.24.84.44.34.54.75.25.65.65.05.14.84.04.04.43.93.7
3.94.54.1
16.913.011.111.110.313.812.811.38.0
10.4
8.58.19.6
10.111 713.814.211.712.211.4
8.38.3
10.37.57.18.0
10.88.1
7.75.34.54.24.65.75.24.83.94.84.03.94.44.55.15.75.64.84.94.63.53.64.23.33.1
3.54.33.5
25.314.313.913.914.121.713.114.28.2
14.5
13.511.416.316.716.919.515.911.715.112.66.19.1
12.51.01.7
14.815.67.0
8.34.74.73.95.16.95.25.44.06.35.95 56.96.97.07.26.24.95 74.72.63.84.6.5.8
5.25.42.8
17.713.28.17.39.8
12.711.312.215.214.412.914.210.66.87.87.56.15.75.46.76.5
20.914.013.713.112.412.311.412.510.212.5
9.58.9
10.010.111.213.514 812.812.211.1
9.17.79.98.5
10.18.09.79.4
14.113.011.39.88.6
10.312.610.76.99.77.57.89.19.6
12.514.115.012.912.312.2
9.89.7
11.39.59.07.59.38.4
16.013.410.19.87.6
10.010.79.37.38.05.65.97.98.3
10.113.214.712.711.711.38.58.8
10.49.15.97.1
10.29.4
14.312.38.5
10.78.1
13.512.711.47.28.07.26.15.47.08.89.8
10.27.77.67.64.35.35.33.82.85.08.5.5
15.113.811.611.110.415.516.49.36.07.97.17.17.57.69.8
11.914.810.910.812.2
10.6
12.713.29.17.66.78.12.1
17.714.211.711.812.515.614.912.410.212.7
9.98.98.98.79.6
10.39.98.29.29.26.91.59.39.86.93.1
12.512.1
Profits after Federal income taxes per dollar of sales-
2.92.41.61.41.82.42.32.63.33.02.73.23.02.02.32.11.91.6
1.71.92.2
7.25.04.54.14.54.43.84.23.84.43.53 53.73.84.24.84.84.44 33.93.32.93.63.23.6
3.13.73.6
7.35.54.84.24.45.15.44.83.74.83.94.14.54.75.86.26 45.75 55.44.64.65.04.54.3
3.84.34.1
6.85.04.03.63.13.84.03.63.13.22.42 53.13.23.74.54 94 54 13.83.03.33.63.22.1
2.63.53.3
7.95.84.75.35.37.26.76.65.45.45.14.63.94.85.65.75 84 84 64.42.53.03.02.21.7
2.94.1.3
10.27.86.76.36.68.39.36.64.75.85.45.35.55.36.57.38.26.86.26.66.27.17.35.44.7
4.44.81.4
10.17.16.66.57.48.68.27.56.87.96.65.85.65.35.65.95.64.85 24.73.6.9
4.74.63.5
1.85.85.4
15.211.38.68.26.09.2
11.68.56.38.96.54.97.98.3
10.113.414.212.112.212.67.97.07.69.27.84.9
10.511.5
-cents
5.13.42.72.62.12.93.42.62.02.72.11 62.32.42.93.73.93.53 43.52.52.22.42.92.4
1.73.33.6
17.511.98.57.16.3
11.18.74.75.79.43.64.15.68.29.9
10.110.08.6
14.613.0
5.65.17.17.14.36.7
12.414.0
9.45.54.13.53.45.43.92.32.84.21.71.92.53.33.94.03.83.45.34.82.52.32.92.81.8
3.04.75.2
16.713.211.611.412.312.512.412.010.613.1
11.610.612.012.114.417.520.918.016.615.6
14.3
12.713.914.815.510.214.215.0
8.66.14.84.65.56.05.85.75.46.55.95.45.96.07.28.69.58.58.17.87.36.97.27.67.6
5.77.48.0
12.39.77.08.27.58 5
11.67.78.29.39.29.99.48.89.5
10.715.413.112.411.6
10.0
7.210.310.711.78.6
10.610.3
5.63.72.72.92.83.13.62.53.03.53.53.63.43.33.63.84.94.24.03.83.42.63.53.63.8
3.33.83.7
See footnotes at end of table.
282
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B—75.—Relation of profits after taxes to stockholders' equity and to sales, all manufac-turing corporations {except newspapers1), by industry group, 1950-71—Continued
Year orquarter
Nondurable goods industries
Totalnon-dur-
able a
Foodandkin-dredprod-ucts
To-baccoman-ufac-tures
Tex-tilemill
prod-ucts
Ap-pareland
relatedprod-ucts
Paperand
alliedprod-ucts
Print-ingandpub-lish-ing
(ex-cept
news-pa-
pers i )
Chem-icalsand
alliedprod-ucts
Petro-leumrefin-
ing
Rub-berandmis-
cella-neous
plasticprod-ucts
Leatherand
leatherprod-ucts
1950 . .195119521953195419551956195719581959
19601961196219631964. . .19651966196719681969>
1970
1970: II I . . . .I I I . . .IV . . . .
1971: II I . . . .I I I . . .
1950195119521 9 5 3 . . . .195419551956195719581959
I 9 6 0 . . . .1 9 6 1 . . . .1 9 6 2 . . . .1 9 6 3 . . . .1 9 6 4 . . . .1 9 6 5 . . . .19661 9 6 7 . . . .1 9 6 8 . . . .1 9 6 9 1 . . .
1970
1970: L .II .III.IV.
1971: I..II.
Ratio of profits after Federal income taxes (annual rate) to stockholders' equity—percent3
14.111.29.79.99.6
11.411.810.69.2
10.49.89.69.9
10.411.512.212.711.811.911.5
10.310.010.510.510.39.8
10.610.6
12.38.17.68.18.18.99.38.78.79.38.78.98.89.0
10.010.711.210.810.810.910.810.010.411.811.010.211.511.7
11.59.58.49.4
10.211.411.712.513.513.413.413.613.113.413.413.514.114.414.414.515.713.715.017.416.614.815.717.1
12.78.24.24.61.85.75.84.23.57.55.85.06.26.18.5
10.910.17.68.87.95.15.44.85.44.84.67.26.5
10 12.94.45.14.56.18.16.34.98.67.77.29.37.7
11.712.713.312.013.011.99.38.37.2
14.47.35.5
10.912.5
16.213.910.510.19.9
11.511.68.98.19.58.57.98.18.19.39.4
10.69.19.7
10.17.08.38.26.25.34.95.95.3
11.510.39.19.49.2
10.213.011.79.0
11.410.68.5
10.39.2
12.614.215.613.012.512.611.29.2
12.711.211.57.9
10.810.4
17.812.210.910.711.614.714.213.311.413.712.211.812.412.914.415.215.113.113.312.811.411.912.211.210.511.712.811.8
15.213.313.412.713.413.912.510.09.8
10.110.310.111.311.411.812.412.512.311.711.010.510.810.711.911.09.9
10.6
16 914.811.111.310.613.212.211.19.1
11.09.19.39.69.2
10.611.712.210.312.310.37.17.78.57.44.87.6
10.99.3
6.54.5LIL3L4i. 1i.3L9L4L9
.8L7L7
95.45.55.65.35.25.0
4.5
4.54.64.64.4
4.44.64.6
Profits after Federal income taxes per dollar of sales—cents
3.42.01.92.02.12.32.42.22.22.42.32.32.32.42.72.72.72.62.62.62.52.42.42.72.52.52.72.8
4.93.83.23.74.24.85.05.25.45.45.55.75.75.95.95.95.95.95.55.25.85.45.46.26.06.06.06.5
5.83.41.92.21.02.62.61.91.63.02.52.12.42.33.13.83.62.93.12.91.92.11.82.01.71.72.62.4
2 8.6
1.01.2LI1.3.6
'.01.51.41.31.61.42.12.32.42.32.42.31.91.71.52.91.51.32.42.6
8.86.65.75.45.66.16.15.04.75.25.04.74.64.55.14.95.44.74.74.83.44.23.93.12.52.52.82.5
4.53.73.33.43.43.64.23.73.14.03.62.83.43.24.34.85.14.44.14.74.23.64.94.24.13.14.14.0
10.36.56.16.16.88.38.07.67.07.97.57.37.47.57.97.97.86.96.86.55.96.26.15.95.56.26.46.1
11.110.110.410.611.111.610.69.59.59.9
10.39.7
10.810.911.111.211.010.710.19.39.19.39.29.68.98.08.7
5.84.53.63.84.04.44.44.23.54.03.63.83.73.64.14.34.43.94.53.82.73.03.12.91.93.13.93.5
10.92.15.86.05.98.57.27.05.78.56.34.46.96.9
10.511.612.911.913.09.3-9.49.09.1
10.59.08.38.17.9
3.7
\.1.1.
2!
\.2.1.1.
l!2.
3!o3.03.32.62.52.52.62.72.32.32.32.1
1 Includes newspapers beginning 1969.1 Includes certain industries not shown separately.3 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity
at end of quarter only.
Note.—For explanatory notes concerning compilation of the series, see "Quarterly Financial Report for ManufacturingCorporations," Federal Trade Commission and Securities and Exchange Commission. See also Note, Table B-74.
Sources: Federal Trade Commission and Securities and Exchange Commission.
283
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B—76.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1960—70
[Billions of dollars]
Source or use of funds 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970
Sources, total
Internal sources »
Undistributed profits iCorporate inventory valuation ad-
justmentCapital consumption allowances^
External sources
StocksBonds 2MortgagesBank loans n.e.c.Other 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-
rency ._ _Time deposits..U.S. Government securitiesOpen-market paper.State and local obligations
Consumer credit.Trade creditOther financial assetss
Discrepancy (uses less sources)
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
L3- 5 . 4
1.7- . 2
.45.32.2
- 4 . 3
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
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
.78.53.2
- 5 . 0
67.1
43.9
13.6
- . 530.8
23.2
l.*94.93.7
5*. 31.93.7
63.2
45.6
38.62.64.3
17.7
4.7
3.9.5.9.2
1.08.13.9
- 3 . 8
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
93.1
56.6
23.1
-1 .735.2
36.5
.05.43.9
10.6.6
9.12.24.6
85.8
62.8
52.82.07.9
23.1
1.7
-1 .53.9
- 1 . 6.5.5
1.215.15.1
- 7 . 2
100.6
61.2
24.7
- 1 . 838.2
39.4
1.210.24.27.91.47.8
.26.5
92.5
77.1
61.61.1
14.4
15.5
1.9
.7— 7
-l.*22.01.01.2
11.31.0
- 8 . 0
96.6
61.5
21.1
-1 .141.5
35.2
2.314.74.56.41.44.9
-4 .75.6
86.5
72.0
62.52.37.3
14.6
2.1
.72.9
- 2 . 81.5
- . 2
.97.73.8
-10.1
108.0
61.7
19.9
- 3 . 345.1
46.3
12.95.88.83.6
10.12.13.8
101.7
76.1
67.42.36.4
25.6
8.6
1.61.91.74.4
-1 .1
1.713.91.4
- 6 . 3
118.1
59.5
15.8
- 5 . 549.2
58.6
4.312.14.8
11.07.0
19.7-1 .9
1.7
112.7
84.9
75.62.86.5
27.8
1.3
- . 9-9 .8-1 .7
8.65.1
1.317.38.0
- 5 . 4
105.5
61.5
12.3
- 4 . 553.8
44.0
6.820.35.31.25.25.5
- 3 . 3
3.1
103.7
84.278.33.32.6
19.5
8.9
- 1 . 012.8
- 3 . 2- 1 . 1
1.4
1.46.23.0
- 1 . 8
1 The figures shown here for internal sources, undistributed profits, and capital consumption allowances differ fromthose shown for cash flow, net of dividends, undistributed profits, and capital consumption allowances in the gross cor-porate product table in the national income and product accounts of the Department of Commerce for the following reasons:(1) these figures include, and the statistics in the gross corporate product table exclude, branch profits remitted fromforeigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, and the gross corporateproduct figures include, the internal funds of corporations whose major activity is farming.
2 Foreign investment excludes amounts financed by bond issues abroad, and bond issues outside the U.S. are excludedfrom financial sources of funds above.
Source: Board of Governors of the Federal Reserve System.
284
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TABLE B—77.—Current assets and liabilities of U.S. corporations, 1939-71
[Billions of dollars]
End of yearor quarter
193919401941194219431944..19451946..
19471948..194919501951195219531954195519561957.1958195919601961New series *196119621963196419651966 : . . .196719681969. .19701969: 1
II . . . . .IIIIV
1970: 1II . -III _IV
1971: 1 .IIIII
Current assets
Total
54.560.372.983.693.897.297.4
108.1
123.6133.0133.1161.5179.1186.2190.6194.6224.0237.9244.7255.3277.3289.0306.8
304.6326.5351.7372.2410.2442.6470.4513.8555.9572.1523.3534.5544.7555.9561.0566.3567.6572.1576.9582.6591.9
Cashon
handandin
banks1
10.813.113.917.621.621.621.722.8
25.025.326.528.130.030.831.133.434.634.834.937.436.337.241.1
40.743.746.547.349.949.354.158.054.956.954.655.453.954.952.952.553.756.955.858.659.8
U.S.Gov-ern-ment
securi-ties 2
2.22.04.0
10.116.420.921 115.3
14 114.816.819.720.719.921.519.223.519.118.618.822.820.120.0
19.219.620.218.617.015.412.714.212.79.7
16.013.512.412.712.510.79.39.7
10.110.310.6
Re-ceiv-ablesfromU.S.Gov-ern-
ment3
0 1.6
4.05.04.72.7
.7
Notesandac-
countsreceiv-able
22 123 927.423.321.921.823.230 0
38 34?. 44:
1.12.72.82.62.42.32.62.82.82.93.13.4
3.43.73.63.43.94.55.15.14.84.24.84.84.64.84.74.44.24.24.23.93.9
.055.758.864.665.971.286.695 199.4
106.9117.7126.1135.8
133.3144.2156.8169.9190 2205.2216 0237.1261.0268 1241.3248.6256.3261.0264.5268.7270.0268.1269.8273.2276.9
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
95.2100.7107.0113.5126.9143.1153.4165.8184.8194.4170.4175.2180.0184.8188.0190.2191.8194.4196.8197.4199. 5
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
12.914.717 819.622 325.129 033.637.838 836 136.937.437.838.539.938.538.840.139.341.2
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
155.8170.9188.2202.2229.6254.4271.4301.8342.7355.2308.7318.9330.9342.7347.7352.7353.6355.2356.5356.3360.6
Current liabilities
Ad-vances
andpre-pay-
ments,U.S.Gov-ern-
ment^
0 6.8
2.02.21.8.9
s,
37
Notesandac-
countsPay-able
21.922.625.624.024.125.024.831.5
- >
39- 337
.41.32 32.22.42.32 42.31.71.71.81.8
1.82.02.52.73 14.45 86.47.36 66.97.27.57.37.27.06.86.66.15.35.2
.547.953.657.057.359.373.881.584.388.799.3
105.0112.8
110.0119.1130.4140.3160.4179.0190.6209.8238.1244.5210.7220.1227.9238.1238.4244.1243.0244.5240.3241.2242.2
Fed-eralin-
cometax
liabili-ties
1.22.57.1
12.616.615.510.48.5
10 711.59.3
16.721.318 118.715.519.317 615.412.915.013.514.1
14.215.216.517.019.118.314 116.416.615.-918.515.015.916.618.014.615.415.918.616.818.7
Othercur-rentlia-
bili-ties
6.97 17.28.78.79.49.7
11.8
13 213.514.014.916.518 720.722.525.729 031.133.337.040 142.5
29.834.538 742.246 952.860 869.180.688.172.776.579.680.684.287.188.388.191.493.094.7
Network-
ingcapi-tal
24 527 532 336.342.145.651 656.2
62 168 672.481.686.590 191.894.9
103.0107 4111.6118.7124.2128 6135.6
148.8155.6163 5170.0180 7188.2198 9212.0213.2217.0214.6215.6213.8213.2213.3213.6214.0217.0220.4226.3231.3
i Includes time certificates of deposit.3 Includes Federal agency issues.3 Receivables from and payables to U.S. Government do not include amounts offset against each other on corporations'
books or amounts arising from subcontracting which are not directly due from or to the U.S. Government. Wherever possible,adjustments have been made to include U.S. Government advances offset against inventories on corporations' books.
* I ncludes marketable investments (other than Government securities and time certificates of deposit) as well as sundrycurrent assets.
* Generally reflects definitions and classifications used in "Statistics of Income" for 1961.Note.—Data relate to all U.S. corporations, excluding banks, savings and loan associations, insurance com-
panies, and beginning with the new series for 1961, investment companies. Year-end data through 1967 are based on"Statistics of Income" (Treasury Department), covering virtually all corporations in the United States. "Statistics ofIncome" data may not be strictly comparable from year to year because of changes in the tax laws, basis for filing returns,and processing of data for compilation purposes. All other figures shown are estimates based on data compiled from manydifferent sources, including data on corporations registered with the Securities and Exchange Commission.
Source: Securities and Exchange Commission.
285
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TABLE B--78.—State and municipal and corporate securities offered, 1934-71
[Millions of dollars]
Year or quarter
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...
1970..1971 p.
1969:1—I L .III.IV..
1970:1 . . .I I . .III.IV..
1971: I . .
I V * .
State andmunicipalsecurities
offeredfor cash
(principalmounts)
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
11,14811,08914,28816,37411,460
17,76224, 332
2,7383,4262,3762,920
4,0173,6564,2785,790
6,5405,9615,8455,985
Corporate securities offered for cash
Totalcorpo-
rateoffer-ings
397
2,3324,5722,3102,1552,164
2,6772,6671,0621,1703,202
6,0116,9006,5777,0786,052
6,3617,7419,5348,8989,516
10,24010,93912,88411,5589,748
10,15413,16510, 70512,21113,957
15,99218,07424,79821,96626,744
38,94445,227
6,2197,3546,3326,839
7,97710,4698,55911,939
12,19111,68810,44710,902
Type of corporate security
Com-mon
stock
222722852587
1081103456163
397891779614736
8111,2121,3691,3261,213
2,1852,3012,5161,3342,027
1,6643,2941,3141,0112,679
1,5471,9391,9593,9467,714
7,2929,445
1,7862,1411,6162,171
1,9381,8321,3032,219
1,8182,6892,1162,822
Pre-ferredstock
862714068698
183167112124369
7581,127762492425
631838564489816
635636411571531
409450422343412
725574885637682
1,3883,663
236128182135
200359356473
487695
1,963518
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, 348
30,26432,119
4,1975,0854,5344,533
5,8398,2786,9009,247
9,8858,3046,3687,563
Industry of corporate user
Manu-fac-
turing i
67
7971,3321,120848604
992848539510
1,061
2,0263,7012,7422,2261,414
1,2003,1224,2,039254
2,268
2,3,4,
994647234
3,5152,073
2,4,3,3,3,
152077249514046
5,4177,11,6,6,
1011,
1,111
,070,058,979,356
,513,600
,407,774,862,314
2,5842,4452,3153,169
3,7943,1302,2022,474
Elec-tric,gasand
water 2
133
1,2842,040771
1,2341,271
1,2031,357472477
1,422
2,3192,1583,2572,1872,320
2,6492,4552,6753,0293,713
2,4642,5293,9383,8043,258
2,8513,0322,8252,6772,760
2,9363,6654,9355,2816,736
11,01711,778
1,3451,8791,5441,967
2,0852,8132,7143,405
3,1982,9102,6513,019
Trans-porta-tion^
176
126797344
55186
32436648
161609
1,454711286755800
813494992595778
893724824824967
718694567957982
1,0131,9722,0671,8752,146
2,2802,360
612371356
772336492680
417971457516
Com-munica-
tion
902571
399612760882720
1,1321,4191,4621,424717
1,0501,8341,3031,1052,189
9472,0031,9791,7662,188
5,1425,991
474432684598
7662,163868
1,346
1,606896
2,2631,225
Other
21
1254017418
103
159964
21109
211329293
1,008946
1,3001,0581,0682,1382,037
2,7572,6192,4261,9912,733
3,3833,5272,7613,9574,980
5,6803,3644,7596,0649,319
9,99113,498
2,1872,6571,8712,604
1,7712,7112,1713,339
3,1763,7812,8743,668
1 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial, and miscellaneous companyissues.
3 Prior to 1948, also includes telephone, street railway, and bus company issues.1 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."
286
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TABLE B-79.—Common stock prices,
Year or month
193919401941194219431944194519461947194819491950 .1951195219531954. .19551956195719581959196019611962196319641965196619671968196919701971 *.
1970: Jan _.FebMarApr .MayJuneJulyAugSeptOctNovDec
1971: Jan . . . .FebMarAprMayJuneJulyAug .SeptOctNovDec*
Total(500
stocks)
12.0611.029.828.67
11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.2298.29
90.3187.1688.6585.9576.0675.5975.7277.9282 5884.3784.2890.0593.4997.1199.60
103.04101.6499.7299.0097.2499.4097.2992.7899.70
Standard
earnings, and yields, and stock market credit, 1939—71
& Poor's common stock data
Price indexes{
Indus-trials(425
stocks)
Publicutilities
(55stocks)
1941-43=10
11.7710.699 728.78
11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1993.4891.0899.18
107.49107.1391.29
108.35
99.4095.7396.9594.0183.1682.9683.0085.4090.6692.8592.5898.72
102. 22106.62109. 59113.68112.41110. 26109. 09107. 26109. 85107. 28102.21109.67
16.3415.0510 937.74
11.3412.8116.8420.7618.0116.7717.8719.9620.5922.8624.0327.5731.3732.2532.1937.2244.1546.8660.2059 1664.9969.9176.0868.2168.1066.4262 6454 4859.33
55.7255.2459.0457.1951.1549.2250.9152.6254 4453.3754 8659.9663.4362.4962.4262.0659.2057.9060.0857 5156.4857 4155.8657.07
Rail-roads(20
stocks)
9.829.419 398.81
11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.0930.3132.8330.5637.5845.4646.7846.3446.7248.8445.9532.1341.94
37.6236.5837.3336.0531.1028.9426.5926.7429.1431.7330.8032.9536.6438.7839.7042.2942.0542.1242.0543.5547.1844.5841.1943.17
Divi-dend
yield 2(per-cent)
4.055 596 827.244 934 864.173.854 935 546.596.576.135 805 804.954.084.094 353.973.233.472.983 373.173.013.003 403.203.073 243.833.14
3.563.683 603.704.204.174.204 073 823.743 723.463.323.183.102.993.043.103.133.183.093.163.313.10
Price/earn-ings
ratio 3
13.8010.258 278.80
12.8413.6616.3317.699.366.916.646.639.27
10.479.69
11.2511.5114.0512.8916.6417.0517.0921.0616.6817.6218.0817.0814.9217.5217.2016.5715.91
17.31
13.33
15.77
17.22
18.11
17.43
17.69
Stock market credit
Customer credit (excludingU.S. Government securities)
Total
Netdebitbal-
ances4
Bankloans
to"others"»
Bankloans tobrokers
anddealers6
Millions of dollars
1,374976
1,032968
1,2491,7981,8261,9802,4453 4364,0303,9843,5764,5374,4614,4155,6025,4947,2427,0537,7707,444
10,34712,48810,010
9,0968,9328,7148,3127,7237,560
942473517499821
1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,0795,5215,3297,8839,7907,445
86,6836,5626,3535,9855,4335,281
(8)(8)(8)(8)(8)
( 8 )
( 8 )(8 )
( 8 )( 8 )( 8 )
353432503515469428561573648780
1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271,974
5 2,2492,1152,4642,698
7 2, 5652,3502,438
2,4132,3702,3612,3272,2902,2792,3052,3012,3292,2702,3252,3502,3072,3302,3222,3302,3442,3882,4212,4342,4322,4142,3982,438
715584535850
1,3282,1372,7821,471
7841,3311,6081,7421,4192,0022,2482,6882,8522,2142,1902,5692,5842,6143,3984,3524,7544,631
M,2774,5015,0825,796
i 5,1416,0886,264
3,4533,7814,1364,0673,7903,3563,5253,8473,6584,0634,1186,0884,8434,4414,8284,2984,2865,0704,1564,7315,1835,2455,4396,264
1 Monthly data are averages of daily figures and annual data are averages of monthly figures.2 Aggregate cash dividends (based on latest known annual rate) divided by the aggregate market value of the stocks in
the group based on Wednesday closing prices. Monthly data are averages of the four or five weekly figures and annualdata are averages of monthly figures.
3 Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter. Annual ratios areaverages of quarterly data.
* As reported by member firms of the New York Stock Exchange carrying margin accounts. Balances secured by U.S.Government obligations are excluded through 1967 and included thereafter. 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 Wednesday.
6 Loans by weekly reporting member banks (weekly reporting large commercial banks beginning 1965) for purchasingof carrying securities, including U.S. Government obligations. Data are for last Wednesday.
7 Revised series beginning June 1969; not strictly comparable with earlier data.*Series discontinued beginning July 1970.Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New York Stock
Exchange.
287
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TABLE B-80.—Business formation and business failures, 1929-11
Year or month
1929.. .
1930.. .1931 . . .1932.. .1933 »_.1934.. .1935.. .1936...1937.. .1938.. .1939 s .1940.. .1941 . . .1942.. .1943. . .19441945.. .1946.. .1947...1948. . .1949. . .
1950. . .1951 . . .1952.. .1953. . .1954.. .1955. . .1956.. .1957. . .1958. . .1959.. .
1960.. .1961.-.1962.. .1963...1964. . .1965. . .1966. . .1967.. .1968. . .1969--.1970...1971.. .
1970: Jan,..Feb...Mar..Apr...May..June..
July..Aug._Sept..Oct...Nov..Dec...
1971: Jan..Feb..Mar_.Apr...May..June-July..Aug_.Sept.Oct..Nov..Dec.
Indexof net
businessformation
(1967-100)
112.587.993.193.298.194.491.398.995.090.389.496.7
92.488.490.793.397.298.598.2
100.0109.8116.2108.1
* 110.2
Newbusinessincorpo-rations(num-
ber)
132.916112,897
96, 34685,640
93.09283,77892.946
102.706117,411139,915141,163137,112150,781193,067
182,713181,535182,057186,404197,724203,897200,010206, 569233,635274,267266, 086
* 236,539
Business failures i
Busi-ness
failurerate'
103.9121.6133.4154.1100.361.161.747.845.961.169.6
63.054.444.616.46.54.25.2
14.320.434.4
34.330.728.733.242.041.648.051.755.951.8
57.064.460.856.353.253.351.649.038.637.343.841.7
Seasonally adjusted
114.114.110.109.107.107.106.105.105.105.105.104.105.105.109.109.109.111.
112.112.111.114
527780125965862288
0970
22,39723,15221,38321,93922,26722,19222,10622, 05522, 37221,62522,38322,08522,33820,92323,22022,77024,16824,691
25,07325,14223,27824,936
33.739.440.143.742.143.4
46.847.450.045.950.844.543.341.843.942.942.844.339.643.640.138.141.637.5
Number of failures
Total
22,909
26,35528,28531,82219,85912,09112,2449,6079,49012,83614,768
13,61911,8489,4053,2211,222809
1,1293,4745,2509,246
9,1628,0587,6118,86211,08610,96912,68613,73914,96414,053
15,44517,07515,78214,37413,50113,51413,06112,3649,6369,15410,74810, 326
734817921992891912
916910906941939869
905860
1,042989912935
786848741759819730
Liability sizeclass
Under$100,000
22,165
25, 40827,23030,19718,88011,42111,6919,2859,20312,55314,541
13,40011,6859,2823,1551,176759
1,0033,1034,8538,708
8,7467,6267,0818,07510,22610,11311,61512, 54713,49912,707
13,65015,00613,77212,19211,34611,34010,83310,1447,8297,1928,0197,611
555622704737662703
650692614728729623
663620743746676680
606621523566629538
$100,000andover
744
9471,0551,625979670553322287283227
219163123664650126371397538
416432530787860856
1,0711,1921,4651,346
1,7952,0692,0102,1822,1552,1742,2282,2201,8071,9622,7292,715
179195217255229209
266218292213210246242240299243236255
180227218193190192
Amount of currentliabilities (millions
of dollars)
Total
483.3
668.3736.3928.3457.5334.0310.6203.2183.3246.5182.5
166.7136.1100.845.331.730.267.3
204.6234.6308.1
248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8
938.61,090.11,213.61,352.61,329.21,321.71,385.71,265.2
941 01,142.11,887.81,916.9
137.3139.4120.0131.9147.9170.5251.9169.6232.9144.8119.8121.7168.8150.9224.6153.8249.5165.8147.0155.6115.8144.7129.0121.7
Liability sizeclass
Under$100,000
261.5303.5354.2432.6215.5138.5135.5102.8101.9140.1132.9
119.9100.780.330.214.511.415.763.793.9
161.4
151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9
327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3271.3
17.621.624.625.022.624.021.922.520.423.824.421.023.622.426.826.224.522.5
21.822.120.020.621.221.0
$100,000andover
221.8364.8382.2495.7242.0195.4175.1100.481.4
106.449.746.835.420.515.117.118.851.6
140.9140.7146.7
97.1128.0151.4226.6251.2243.0322.9348.2430.7413.9
611.4720.0867.1
1,031.61,015.61,000.01,064.1
967.3699.9910.8
1,618.41, 645. 6
119.6117.895.4
106.9125.3146.5230.0147.1212.6121.095.5
100.7145.2128.6197.8127.6224.9143.3125.2133.495.9
124.1107.7100.7
1 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933, of real estate,insurance, holding, and financial companies, steamship lines, travel agencies, etc.
* Failure rate per 10,000 listed enterprises.» Series revised; not strictly comparable with earlier data.* Preliminary; based on seasonally adjusted data through October.Sources: Department of Commerce (Bureau of Economic Analysis) and Dun & Bradstreet, Inc.
288
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURETABLE B-81.—Income of farm people and farmers, 1929-71
Year orquarter
Personal Incomereceived by totalfarm population
Froma!l
sources
Fromfarm
sources1
Fromnon-farm
sources 2
Income received from farming
Realized gross
Total*
Cashreceipts
frommarket-
ings
Produc-tion ex-penses
Net to farmoperators
Exclud-ing netinven-
torychange
Includ-ing netinven-tory
change*
Net income perfarm, includingnet inventory
change
Currentdollars
1967dollars*
1929..
1930...1931.. .1932...1933...1934...1935.. .1936...1937...1938...1939.. .
1940.. .1941. . .1942.. .1943.. .1944.. .1945.. .1946.. .1947.. .1948.. .1949.. .
1950.. .1951. . .1952. . .1953. . .1954.. .1955.. .1956.. .1957.. .1958.. .1959.. .
1960. . .1961. . .1962. . .1963. . .1964. . .1965. . .1966. . .1967. . .1968...1969...
1970. . .1971 P..
1970: LII...III.IV..
1971: I
Billions of dollars Dollars
5.47.77.29.07.27.47.6
10.114.116.516.617.220.021.123.819.5
20.422.722.119.818.417.617.817.719.518.1
18.719.720.420.620.623.624.924.025.127.727.528.0
3.25.44.66 24.74.84.86.8
10.112.112.212.815.515.818.013.314.116.215.413.412.511.411.211.012.811.0
11.512.212.312.111.313.514.413.113.214.914.214.5
IV P..
2.22.32.62.72.52.62.83.33.94.44.44.44.65.35.86.26.36.56.76.45.96.26.66.66.77.0
7.27.58.28.59.3
10.010.510.911.912.8
13.313.5
13.911.58.46.47.18.69.7
10.811.410.110.611.113.918.823.424.425.829.534.134.731.632.337.136.835.033.633.134.334.037.937.5
38.139.841.342.342.644.949.749.050.955.556.658.6
11.39.16.44.75.36.47.18.48.97.77.9
8.411.115.619.620.521.724.829.630.227.828.532.932.531.029.829.530.429.733.533.5
34.235.136.437.437.239.343.342.744.148.1
49.251.6
7.76.95.54.54.44.75.15.66.25.96.3
6.97.8
10.011.612.313.114.517.018.818.019.422.322.621.321.621.922.423.325.226.126.427.128.629.729.530.933.434.836.238.7
40.942.9
6.34.52.91.92.73.94.65.15.24.24.34.26.18.8
11.812.112.815.017.115.913.612.914.814.113.712.011.211.910.712.711.4
11.712.612.612.613.114.016.314.214.716.8
15.7lb.7
6.24.33.32.02.62.95.34.36.04.44.4
4.56.59.9
11.711.712.315.115.417.712.813.716.015.113.112.511.511.411.313.511.5
12.113.013.213.212.315.016.314.914.816.915.916.3
945651506304379431775639905668685
7061,0311,5881,9271,9502,0632,5432,6153,0442,233
2,4212,9462.8962,6262,6062,4632,5352,5903,1892,795
3,0493,3993,5863,7083,5644,4875,0194,7304,8545,685
5,4515,676
1,9691,4471,297
9211,1151,1341,9871,6382,2621,7581,8511,8582,5783,4523,7063,6113,6194,0373,5343,9032,9773,1863,5493,4483,1263,1022,9322,9822,9433,5833,140
3,3883,7773,9414,0303,8324,7235,1214,7304,6675,2164,7824,770
Seasonally adjusted annual rates
57.957.155.755.656.857.659.360.9
50.549.748.448.349.750.652.353.8
40.240.741.241.442.242.843.043.6
17.716.414.514.214.614.816.317.3
17.916.614.614.514.915.317.118.2
6,1205,6804,9904,9605,1805,3205,9506,330
5,4605,0304,3804,3104,4304,5104.9605,280
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.
3 Cash receipts from marketings, Government payments, and nonmoney income furnished by farms (excluding netinventory change).
< I ncludes net value of physical change in inventory of crops and livestock valued at average prices for the year.s Income in current dollars divided by the index of prices paid by farmers for family living items on a 1957 base.
Source: Department of Agriculture.
289
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-82.—Farm production indexes, 1929-71
[1967=100)
Year
1929...
1930...193119321933. .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...19611962...1963...1964...
1965...1966...1967...1968...1969...
1970...1971 p..
Farmout-put i
53
5256545043
5247585758
6062696870
6971697574
7375787979
8282808688
9090919594
9796100102103
102111
Crops
Total 3
62
5966625646
6050696564
6668767175
7376738379
7677818179
8282808989
9291929593
9895100103104
100112
Feedgrains
50
4551594527
4831545252
5370666063
6166507364
6560646266
6969758285
8879808776
89891009599
90117
Hayand
forage
69
5763646056
7157657065
7574817978
8176737372
7780788080
8581888884
8989929293
9796100100100
100106
Foodgrains
50
5559473533
4140555747
5259625366
6871838069
6463817466
6265619072
8678737684
878710010597
91107
Vege-tables
65
6667686571
7267737272
7475808682
8493828784
8580818483
8691889089
9196949490
9697100103103
102101
Fruitsandnuts
67
6582676863
8062837585
8388877587
7994908287
8789868788
8892849193
8791928990
959710093113
108115
Cot-ton
200
188230175175130
143168257162160
170145173155166
122118160202217
135205205222185
199180148154196
192193200207206
202129100148135
135141
To-bacco
77
8378517055
6760807097
7464717199
100117107100100
103118114105114
111110848891
99104117119113
94951008791
9789
Oilcrops
8
88868
129111317
2022333529
3130323936
4138373741
4654536558
6171727575
9096100112115
116119
Livestock and products
Total »
54
5556565752
5054535659
6064717773
7371706872
7578787982
8484838588
8791929597
9597100100101
106108
Meatani-mals
52
5255565849
4450485259
6063738173
7068676669
7479797881
8683808288
8589909598
9296100102102
108112
Dairyprod-ucts
76
7779808079
7980808283
8589929193
9594939093
9392929798
99101102101100101104105104105
1041011009999
100101
Poul-tryandeggs
32
3332323230
30323(23335
3639455251
5450494854
5659596163
6268697376
7581818387
909610098101
106107
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.8 Includes certain items not shown separately.
Source: Department of Agriculture.
290
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-83.—Farm population, employment, and productivity, 1929-71
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 .
1970..1971 p.
Farm population( A p r i l 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
12,36311,59510,87510,45410,307
9,7129,400
As per-cent of
totalpopu-lation1
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
8.78.17.77.16.8
6.45.95.55.25.1
4.74.5
Farm employment(thousands)
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
5,6105,2144,9034,7484,596
4,5234,454
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
4,1283,8543,6503,5353,419
3,3483,286
Hiredworkers
3,403
3,1903,1032,8942,8652,862
2,8782,9812,9242,8072,727
2,6792,6522,5552,4362,231
2,1192,1892,2672,3372,252
2,3292,2362,1442,0892,081
2. 0361,9531,9401,9821,952
1,8851,8901,8271,7801,604
1,4821,3601,2531,2131,176
1,1751,168
Farm output
Perunit oftotalinput
Per man-hour
Total
Cropproduc-
tionper
acre4
Index, 1967 = 100
56
5560615752
6154656463
6467737172
7376748076
7676798081
8385859292
969797
10098
10198
100100101
99107
17
1717171615
1817192020
2122242425
2729293233
3536394143
4750535962
6770738083
9194
100106112
113122
17
1718181716
1917202121
2324262627
2931313536
3938424345
4852566566
7173778285
9295
100106112
110121
26
2626252523
2425252627
2728303231
3232333436
3739404143
4648505559
6267717783
8793
100105112
120120
5259565042
5446626061
6263706468
6770677570
6969737371
7477778686
92959795
10099
100104107
102112
1 Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian populationliving on farms, regardless of occupation.
1 Total population of United States as of July 1 including Armed Forces overseas.1 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, Statistical
Reporting Service, differ from those on agricultural employment by the Department of Labor (see Table B-22) because ofdifferences in the method of approach, in concepts of employment, and in time of month for which the data are collected.See monthly report on "Farm Labor."
* Computed from variable weights for individual crops produced each year.
Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
291
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-84.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-71[1967 = 1001
Year or month
1929 .
19301931193219331934193519361937. . .19381939
194019411942-1943194419451946..194719481949
1950-1951195219531954 .19551956195719581959
19601961...1962...196319641965196619671968 •_1969
1970—1971
1970: Jan 15Feb 15Mar 15Apr 15 .May 1 5 —June 15July 15Augl5Sept 15Octl5Novl5Dec 15...
1971: Jan 15 .. .Feb 15.Mar 15Apr 15 .. „May 15June 15
July 15Augl5 .Sept 15Oct 15Novl5 .Dec 15
Prices received by farmers
Allfarmprod-ucts »
58
49342628354345483837
3949637678819310911398
102119113100979191929895
949496969398105100103108
110112
113114114111110110
112109110108106104
106112111111113113
113113111113114116
Crops
Allcrops
65
55382931404850544342
445570858792104122127111
10311711810610710?104999998
9910010310610610310510010197
100108
96989897100101
10310010410210299
102105107108111114
111108104106108109
Foodgrains
66
53322537515561684241
475568849497114153141123
126137138132131129126127117114
115118128126107931041009187
9294
899089919086
859196989996
979796979899
938988919193
Feedand
Total
68
61432833556159724141
495366879996116147148102
111130134118117105105968890
87878995961001041009196
101106
979796969899
100101109107106110
114116116114114118
11210096909097
grainshay
Feedgrains
71
63412533566463784241
4954679010197122158157101
114136139122120107107979091
87878994951001041009094
101108
949594949799
101102110108106110
114116116114115120
1139994878694
Cot-ton
79
54342636535152493739
435882879094125143142129
148176162140144142140138132140
13313714214213712811310010091
96109
849294969898
99100971019893
93959398101103
106119119122127129
To-bacco
31
25181519283129363127
24284557636568676872
73797878807981848791
90959689889299100102107
109113
108109109109109109
109110110106109110
110111111111111111
111112115115118120
Oil-bear-ing
crops
52
40261621374643473435
3750667380839413212788
1001231071011109093888279
7793909493961061009691
97108
909191939396
999799103104103
106107106104105108
113112108108105108
Livestock and products
Alllive-stockandprod-ucts1
57
48352625294143454039
3950627171768710411498
10112111097908482889993
919192898594105100104116
118116
126126125121117117
119115116113109108
110117114114114113
114117117118119121
Meatani-mals
46
40271918203435393433
324355605762749810793
101122105868473708210093
888992868095106100103119
121119
126130132128125126
126120116112104102
106120117117119119
120122120123123125
Dairyprod-ucts
54
46362828333741433836
39465365737588899882
81949987808183858384
85858383848596100104107
113116
115113110109107106
108110115119120119
118117115113111109
111113117121121121
Poul-tryandeggs
122
97746156678887848373
7492115145134150152169183167
14117?1561671351451331??129108
121111110111108110122100108123
115100
150137127111100100
111104115101108111
1081031021029897
981021009496105
See footnotes at end of table.
292
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-84.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-71—Con.[1967=100]
Year or month
19291930193119321933.1934193519361937193819391940...194119421943. . .194419451946.. .1947194819491950195119521953195419551956 .19571958.. ..19591960196119621963... . ..19641965 . .1966 .... ..196719681969... .. ..197019711970: Jan 15. .
Feb 15Mar 15...Apr 15.May 15Junel5_.July 15._.Aug 15...Sept 15..Octl5___Nov 15Dec 15...
1971: Jan 15...Feb 15...Mar 15. .Apr 15...May 15June 15...July 15...Aug 15Sept 15...Oct 15....Nov 15...Dec 15....
Prices paid by farmers
Allitems,in-
terest,taxes,andwagerates(parityindex)
4744383332353636383636363944505356617076737582848181818184868788889091929498100104109114120112113113114114114114114115115115116117118118119120120120120120121121122
Allitems
5046393434394141434040404349555859657683798190908687868688909191929294939698100103107111117110110110111111111111111112113113113114115115116116117117118118118118119
Fam-ily
livingitems
4845393334383939403837384046525457637478757683848484848588898990909192939598100104109114119112112112113113114114114115115115116116117117117118119119120120120120121
Commodities and services
Production items
Allproduc-tion
items *
5147393434404343464342434552576061677887838695958989878790929392939495949699100102106110115108109109109109109109109111111111112112113114115115116116116116116117117
Feed
645841303449505158444447516274828194111118979911111810710710097959394929394989798102100959710210610010110099100100100101105105105107108108108108108109108105103100100102
Motorve-
hicles
3029292828303032333533333537394244455258646469727171727479838584848790919396100105109114122
113
113114
114
118118
119
123124
123
123
Farmma-chin-ery
3333323130313232333434333435373838394552586065676768687174778182848688909296100105110116124
114
117
119
120
121
125
128
Fer-til-izer
85827565616968646767666464717677787988959894991021031031019910010099100100100999910099100979397101939393969696969698989898989898101101101101101101
Inter-ests
454341393431282624.2322212120181716151616171921232426283235384246515663718090100110119128134128128128128128128128128128128128128134134134134134134134134134134134134
Taxes'
3132312925212020202121212121212122242731343638394143454952566065707477808592100111124134146134134134134134134134134134134134134146146146146146146146146146146146146
Wagerates «
2221161210121313151515151823313842464952515055596160616366687274767880828693100108119128134124124124129129129127127127131131131130130130137137137133133133138138138
Parityratios
92836758647588929378778193105113108109113115110100101 (107 (100 (9?898483828581807980787677807473747?70757575727272737171706866687070697070707068697071
(66)(80)
95)97)83)
(ft1))889ft09116
noin11511811110010?10ft10193898584ft1)88ft?
(ft?
(83(81(80)(ft?)(86)(79)(79)(79)
( 74)(80)(81)
(7R1(77(7779)76)77)
3(74(74(74)(75)(74)(74)(73)C74)(74)(75)
i Includes items not shown separately,s 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.s 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.
293
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-85.—Selected measures of farm resources and inputs, 1929-71
Year
Cropsharvested(millions
ofacres)»
Man-hours
offarmwork(bil-lions)
Index numbers of inputs (1967 = 100)
Total Farmlabor
Farmreal
estate 3
Me-chani-
calpowerandma-
chinery
Ferti-lizerand
limingmaterials
11
118668
910121212
1415171923
2324282931
3236394243
4544464854
5458627076
8090100107110
113118
Feed,seed,and
live-stockpur-
chases '
31
3026282827
2635333441
4346495353
5554565762
6468707072
7376758084
8487898990
9197100101104
109111
Miscel-laneous
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...
19601961...1962...1963...1964...
1965.1966.1967.1968.1969.
--I
19701971 »__.
365
369365371340304
345323347349331
341344348357362
354352355356360
345344349348346
340324324324324
324303295300301
298295308303294
297310
23.2
22.923.422.622.620.2
21.120.422.120.620.7
20.520.020.620.320.2
18.818.117.216.816.2
15.115.214.514.013.3
12.812.011.110.510.3
9.89.49.08.78.2
7.87.47.37.06.7
6.56.6
95
9494908983
8587918992
9393959697
9593939497
9699999898
9896949495
9494949596
9798100102102
103104
302
299306295294264
275267288269270
269265271267265
249239226220212
199200191184176
170160149143139
134129123120115
1091011009694
9293
8990
9290888787
8892929394
9596959697
9795959494
93939496
9999100100101
102102
39
4038353231
3335384040
4244505355
5655616875
7984899090
9191909192
9190919293
96100100102103
103103
53
5254525248
4948524850
5252495254
5354545962
6367676564
6970697479
8082868993
9497100109101
100100
1 Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.* Includes service buildings and improvements on land.1 Nonfarm portion of feed, seed, and livestock purchases.
Source: Department of Agriculture.
294
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-86.—Comparative balance sheet of the farming sector, 1929-72
[Billions of dollars]
Beginning ofyear
1929 .
19301931..1932..19331934
193519361937.19381939
19401941.1942..19431944
194519461947.19481949
1950195119521953. .1954
1955.. .1956195719581959
1960 . .19611962..19631964
1965196619671968.1969
1970 .1971 . . .
1972 v ..
Assets
Totat
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
238.5255.8269.5283.6298.5
309.6319.0
335.1
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 5182.5193.1202.6
208 2214.0
223.0
Other physical assets
Live-stock i
6.6
6.54.93.63.03.2
3.55.25.15.05.1
5.15.37.19.69.7
9.09.7
11.913.314.4
12.917.119.514.811.7
11.210.611.013.917.7
15.215.616.417.315.8
14.517.518.918.820.2
23.423.7
Ma-chin-eryand
motorvehi-cles
3.2
3.43.33.02.52.2
2.22.42.63.03.2
3.13.34.04.95.4
6.55 45.37.4
10.1
12.214.116.717.418.4
18.619.320.320.221.8
22.221.822.322.724.1
25.527 128.931.433.0
34.136.6
86
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
10.6
10 910.7
.8
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
8.68.68.49.09.6
9.79.8
Financial assets
De-positsandcur-
rency
3.6
3.23.54.25.46.6
7.99.4
10.29.99.6
9.19.19 49.49.4
9.49.59.49.5
10.0
9.28.78.89.29.2
9.610.010.310.911.5
11.912.4
U.S.savingsbonds
0.2.4.5
1.12.2
3.44 24.24.44.6
4.74.74.74.64.7
5.05.25.15.15.2
4.74.64.54.44.2
4.24.13.93.83.7
3.73.7
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
6.06.36.67.07.3
7.78.1
25.3
Claims
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
238.5255 8269.5283.6298.5
309 6319.0
335.1
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
18.921 223.325.527.1
28 429.5
30.7
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
18.620 422.424.927.5
29 731.6
34.8
Pro-prie-tors'equi-ties
53 9
42.944 652.463.775.7
85.995 5
107 9118.6123.5
120.1138.4152 3148 2144.3
147.5150.8158 6165.4178.6
178 3177.8184 2189.3194.9
201.0214 2223.8233.2243.9
251 5257.9
269.6
» Beginning with 1961, horses and mules are excluded.'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, 1972, totaled approximately $0.9 billion.
Source: Department of Agriculture.
295
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICSTABLE B-87.—U.S. balance of payments, 1946-71
[Millions of dollars]
Year orquarter
Merchandise u
Ex-ports Imports
Netbal-ance
Directexpend-itures
Military transactions
SalesNetbal-
Net invest-ment income
Pri-vate s
us.Gov-ern-ment
Nettraveland
trans-porta-
tion ex-pendi-tures
Otherserv-ices,net
Bal-ance
ongoodsand
serv-ices i
Remit-tances,
pen-sionsand
otheruni-
lateraltrans-fers^
Cur-rent ac-countbal-ance
1946.1947.1948.1949.
1950.1951.1952.1953.1954.
1955.1956.1957.1958.1959.
1960.1961.1962.1963.1964.
1965.1966-1967.1968.
1970.--1971»..
1969: I...
11,76416,09713,26512,213
10, 20314, 24313, 44912, 41212,929
14, 42417,55619, 56216,41416,458
19,65020,10720,779122,25225,478
26, 43829, 39030,68033, 58836, 490
41,98044, 308
5,067 6,6975,973 10,1247, 5571 5,7086,874 5,339
1970: L - -II...III..IV..
1971: I...II...Ill"
- 9,081-11,176-10,838-10,975-10,353
-11,527-12,803-13,291-12,952-15,310
-14,744-14,519-16,218-17,011-18,647
-21, 496-25,463-26,821-32,964-35,830
-39,870-46,052
1,1223,0672,6111,4372,576
2,8974,7536,2713,4621,148
4,9065,5884,5615,2416,831
4,9423,9273,859624660
2,110-1,744
-493-455-799-621
-576-1, 270-2, 054-2,615-2,642
-2,901-2,949-3, 216-3,435-3,107
-3,087-2,998-3,105-2,961-2,880
-2,952-3,764-4,378-4,535-4,856
-4,851-4, 759
1,4802,024
-493-455-799-621
-576-1,270-2,054-2, 423-2,460
-2,701-2,788-2,841-3,135-2, 805
-2,752-2, 596-2,449-2, 304-2,133
-2,122-2,935-3,138-3,140-3, 341
-3,370-2, 735
750997
1,1771,200
1,3821,5691,5351,5661,899
2,1172,4542,5842,4162,658
2,8253,4513,9204,0564,872
5,2745,3315,8486,1575,820
6,3608,248
6508573
78151140166213
180404
16868
1610313297
20444063
155
- 1 1 8- 7 5 2
733946374230
- 1 2 029883
- 2 3 8- 2 6 9
- 2 9 7- 3 6 1- 1 8 9- 6 3 3- 8 2 1
- 9 6 4- 9 7 8
- 1 , 1 5 5- 1 , 3 1 2- 1 , 1 4 9
- 1 , 3 1 9- 1 , 3 8 2- 1 , 7 5 2- 1 , 5 5 8- 1 , 7 8 0
- 1 , 9 7 9- 2 , 1 8 4
114 7,807- 4 5 ; i l , 6 1 7- 2 7 | 6,518
o
62
4124
0
- 4 347727862
9646
140208174
333
6,218
1,8923,8172,356
5321,959
2,1534,1455,9012,356310
4,1265,6155,1505,9878,600
7,130
-2,922-2,625-4, 525-5,638
-4,017-3,515-2, 531-2, 481-2, 280
-2,498-2, 423-2,345-2,361-2,448
-2, 292-2, 513-2,631-2,742-2,754
___ ., .„„ '2,835315! 5,300 -2,890"" 3,081
2,8752, 910
365344497
587753
5,2202,4892,011
3,5911,586
-3,148-3, 364
4,8858,9921,993580
-2,125302
-175-1,949-321
-3451,7223,556
-2,138
1,8343,1022,5193,2455,846
4,2952,4102,139-386-899
443-1,778
Seasonally adjusted annual rates
30,04037,96038,40839,552
40,96442,32842,78441,844
44,12042,88045,924
-30,356-38,264-37,112-37,588
-38,912-39,324-39,968-41,276
-43,044-47,040-48,072
-316- 3 0 41,2961,964
2,0523,0042,816
568
1,076-4,160-2,148
-4,792-4,748-4,884-5,004
-4,728-5,020-4,844-4,812
-4,696-4,856-4,724
1,6281,3161,7681,344
1,0961,7881,3081,732
2,0282,1801,864
-3,164-3,432-3,116-3,660
-3,632-3,232-3,536-3,080
-2,668-2,676-2,860
6,0165,8725,7165,672
6,1845,8886,5406,828
7,5809,3087,856
152156180136
124-12-256-324
-448-632
-1,176
-1,836-1,640-1,748-1,892
-1,792-2,000-2,212-1,912
-1,708-2,440-2,404
500532504456
588532628600
848704708
1,3521,1842,8322,676
3,5244,1803,9802,680
4,680104
- 2 4
-2,520-3,356-2,772-2,996
-3,024-3,012-3,212-3,344
-3,080-3,352-3,660
-1,168-2,172
60- 3 2 0
5001,168
768- 6 6 4
1,600-3,248-3,684
See footnotes at end of table.
296
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-87.—U. S. balance of payments, 1946-71 —Continued
[Millions of dollars]
Year orquarter
1946 .1947...19481949...
19501951195219531954
195519561957 .19581959
I960..1961..196219631964..
19651966..196719681969
19701971"
1969:1 . . .I I—.III . . .IV. . .
1970: 1II — .IllIV. . .
1971: 1II.Ill v.
Long-termcapitalflows,
net
U.S.Gov-ern-
ment4
-889-901-891
-1,150-1,348
-1,532-1,469-2 ,423-2 ,161-1,930
-2,029-2,456
Pri-vates
-2 ,100-2 ,181-2 ,607- 3 , 357-4,470
- 4 , 577-2 ,555-2,912
1,198- 5 0
-1,454- 5 , 928
Bal-ance
on cur-rent
accountand
long-term
capital
-1 ,15520
-979-1,262
28
-1,814-1,614-3 ,196-1 ,349-2 ,879
-3 ,039-10,162
Non-liquidshort-term
privatecapitalflows,nets
- 9 8625984875
- 4 9127456403
-496
43- 8 9838216171
s-1 ,405»- l ,200
9-6579-764
-1 ,691
-171-102-505
231-602
-545- 2 , 593
Allo-ca-
tionsof
spe-cial
draw-ing
rights
867717
Errorsand
omis-sions,net
155861
1,115717
-12435449722060
371390
1 012361260
-1 ,116-1,070-1,230
-485-1,080
-507-431-985-493
-2 ,603
-1,104-11,401
Bal-ance,net
liquid-ity,
basis
9-3,6769-2,2519-2,8649-2,509
-2 ,745
-2 ,493-2,148-4 ,685-1,610-6,084
-3 ,821- 2 3 , 439
Liq-uidpri-vate
capitalflows,nets
9 2739 9039 2149 575
1,211
1,2042,3671,2673,2518,786
-6 ,000-7 ,741
Bal-ance,officialreservetrans-actionsbasis
-3 ,403-1 ,348-2,650-1,934-1,534
-1,289219
-3 ,4181,6412,702
-9 ,821-31,180
Changesin lia-
bilitiesto
foreignofficiaagen-cies,net e
1,258742
1,1171,5571,363
67-7873,366-761
-1 ,515
7,34427, 800
Changesin U.S.officialreserveassets,net?
- 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
-880-1,187
2,4773,380
Seasonally adjusted annual rates
-1 ,916-2,164-2,816
-820
-1,812-2,360-1 ,248-2,692
-2,720- 2 , 520-2,128
2,496-3,740-1,524
2,564
-3,876-1 ,088
-88028
-4,012-7,180- 6 , 592
-588-8 ,076- 4 , 280
1,424
-5 ,188- 2 , 280-1,360-3 ,328
-5,132-12,948-12,404
24-1 ,488
-840-108
-460-560-460-700
-1,536-1,576- 4 , 668
868868868864
720716716
-4,368- 2 , 512-2,868
-664
-236-1 ,500-1 ,748
-932
-4 ,068- 9 , 320
-20,816
-4 ,936-12,076-7,984
652
-5,016-3,472-2,700- 4 , 096
-10,016-23,128-37,172
10, 28418,7125,268
884
- 6 , 440-2,144-5 ,600-9 ,816
-12,116204
-11,312
5,3486,636
-2 ,7161,536
-11,456-5 ,616-8 ,300
-13,912
-22,132-22,924-48,484
-5 ,156-5,440
5,460-920
10,4002,3965,964
10,616
19,40420,28843, 708
-192-1,196- 2 , 744
-616
1,0563,2202,3363,296
2,7282,6364,776
U.S.official
reserveassets,
net(end ofperiod)
20,70624,02125, 75826,024
24, 26524,29924,71423,45822,978
22, 79723,66624,83222,54021, 504
19,35918, 75317,22016,84316, 672
15,45014,88214,83015,710
1016,964
14, 48712, 131
Unad-justed
15,75816,05716, 74316,964
17,35016, 32815, 52714,487
14,34213, 50412,131
1 Excludes military grants.2 Adjusted from Census data for differences in timing and coverage.s Includes fees and royalties from U.S. direct investments abroad or from foreign direct investments in the United States.4 Excludes liabilities to foreign official reserve agencies.5 Private foreigners exclude the IMF, but include other international and regional organizations.8 Includes liabilities to foreign official agencies reported by U.S. Government and U.S. banks and U.S. liabilities to theIMF arising from reversible gold sales to, and gold deposits with, the United States.7 Official reserve assets include gold, special drawing rights, convertible currencies, and the U.S. gold tranche positionin the IMF.* Not available separately.9 Coverage of liquid banking claims for 1960-63 and of nonliquid nonbanking claims for 1960-62 is limited to foreigncurrency deposits only; other liquid items are not available separately and are included with nonliquid claims.10 Includes gain of $67 million resulting from revaluation of the German mark in October 1969." Average of the first 3 quarters on a seasonally adjusted annual rates basis.Sources: Department of Commerce (Bureau of Economic Analysis) and Treasury Department.
297
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-88.—U.S. merchandise exports and imports, by commodity groups, 1958-71
[Millions of dollars]
Year or quarter
1958..1959..
I960..1961..1962..1963-1964..
1965..1966..1967..1968..1969..
1970.1971..
: I . .I I -III.IV.
1970: II I . .III.IV..
1971: I . . .I I . .III.IV..
Merchandise exports»
Total, includ-ing reexports 3
Sea-sonally
ad-justed
Unad-justed
16,37516,426
Domestic exports
Total 2 3
16,21116,243
Food,bever-ages,
and to-bacco
2,6882,852
19,659 19,459 3,16720,226 19,982 3,46620,986 20,717 I 3,74322,467 22,182 i 4,18825,832 25,479 4,637
Crudemate-rialsand
fuels *
Man-ufac-tured
goodss
3,052 11,5472,996 ,11,179
26,742 26,39929,490 29,05431,030 30,64634,063 33,62637,332 36,788
42,65943, 555
42, 02542,916
7,604 7,585 7,4689,860 10,151 10,0109,862 i 9,257 9,1189,966 10,338 10,192
10,327 10,19410,798 11,21910,848 ,10,15310,757 11,094
11,239 11,11610,965 11,40511,681 jl0,9309,728 10,105
10,06011,0559,98910,922
10,96111,22110, 7829,952
4,5195,1864,7104,5924,446
5,0585,075
6991,2571,1481,342
1,1171,1451,2641,532
1,2961,2191,3361,224
3,9423,8643,3563,7754,337
4,2734,4044,7264,8655,006
6,6926,438
8771,3881,2341,507
1,4891,7251,6081,870
1,6891,6731,5681,509
12,58312,78413,66814,29716,529
17,43319,21820,84423,818126, 785
!29,34330,449
5,7917,2666,5987,129
7,2467,9326,8727,294
7,7388,0477,6497,012
Merchandise imports
General imports*
Totals
Sea-sonally
ad-justed
Unad-justed
7,6439,6359,2979,438
9,7219,86410,02310,328
10, 79811,75511,96911,050
13,39215,690
15,07314,76116,46417,20718,749
21,42725,61826,88933,22636,043
39,95245,602
7,4109,7819,1919, 662
9,45510,0699,873
10, 555
10, 51712,01211,78811,285
Food,bever-ages,
and to-bacco
3,5503,580
3,3923,4553,6743,8634,022
Crudemate-rialsand
fuels <
4,1644,615
4,4184,3344,6914,7555,029
4,013 5,4404,590 5,7184,701 5,3675,365 6, 0315,308 6, 391
Man-ufac-tured
goods!
6,2306,406
1,013,478,331,487
,512,580
1,4961,640
1,4921,7071,8961,311
6,5427,272
1,4761,6401,5831,692
1,6671,6001,6171,657
1,6261,8361,9291,880
5,3117,117
6,8636,5377,6498,0709,106
11,24414,44615,75620,62423,011
25,90630,448
4,6476,3245,9276,113
5,9986,5746,4226,913
7,0508,0937,5977,709
Grossmer-chan-dise
tradebal-
ance,sea-
sonallyad-
justed »
2,983736
4,5865,4654,5225,2607,083
5,3153,8724,141
8371,289
2,708-2,047
- 3 9225564528
606933825429
440-791-288
-1,322
1 Beginning I960, data have been adjusted for comparability with the revised commodity classifications effective in 1965.'Totals exclude Department of Defense shipments of grant-aid military supplies and equipment under the Military
Assistance Program.•Total includes commodities and transactions not classified according to kind.«Includes fats and oils.8 Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these items
Include military grant-aid shipments.* Total arrivals of imported goods other than intransit shipments.7 Exports, excluding military grant-aid, less general imports; quarterly data seasonally adjusted.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately
prior to 1969. Export statistics coverall 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.
298
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TABLE B-89.—U.S. merchandise exports and imports, by area, 1965-71
[Millions of dollars]
Area 1965 1966 1967 1968 1969 1970 1971
Exports (including reexports and special category
shipments): Total
Developed countriesDeveloping countries
Canada.Other Western Hem isphereWestern Europe !
Eastern EuropeAsiaAustralia and OceaniaAfrica -
General imports: Total
Developed countriesDeveloping countries
CanadaOther Western HemisphereWestern Europe iEastern Europe--AsiaAustralia and OceaniaAfricaUnidentified countries 2
27,521
18,3669,015
5,6574,2669,258
1406,015
9561,229
21,427
14,1017,173
4,8584,3986,154
1374,529
455883
12
30,430
20,12010,112
6,6794,7699,891
1986,740
8051,348
25,618
17,6327,795
6,1524,7377,679
1795,277
596992
6
31,622
21,4679,960
7,1724,718
10,187195
7,1501,0181,182
26,889
18,9937,709
7,1404,6628,052
1775,349
583920
6
34,636
23,60010,821
8,0725,339
11,132215
7,5821,0261,269
33,226
24,1308,886
9,0055,143
10,139198
6,911697
1,12211
38,006
26,47911,277
9,1375,576
12,392249
8,261998
1,392
36,043
26,4609,373
10,3845,163
10,138195
8,275828
1,04612
43,224
29,87712,993
9,0796,532
14,463354
10,0281,1891,579
39,952
29,25910,442
11,0925,836
11,169226
9,621871
1,11324
44,137
30,34713,405
10,3666,484
14,190384
9,8501,1691,694
45,602
33,78111,552
12,7626,039
12,623223
11,783895
1,23741
1 Includes Finland, Yugoslavia, Greece, and Turkey.2 Consists of certain low-valued shipments not identified by country.
Note.—Developed countries include Canada, Western Europe, Japan, Australia, New Zealand, and the Republic ofSouth Africa. Developing countries include rest of the world except Communist areas in Eastern Europe and Asia andunidentified countries.
Source: Department of Commerce, Bureau of International Commerce.
299
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TABLE B-90.—U.S. overseas loans and grants, by type and area, fiscal years, 1962—71[Millions of dollars]
Type of program and fiscalperiod
Total economic loans and grants(net obligations and loanauthorizations).!
1962-70 averageLoans..Grants .
1971Loans._Grants
Economic loans and grants toless developed countries, byprogram:2
Net obligations and loanauthorizations:
1962-70 average1971. . .
Repayments and interest:1962-70 average1971
Agency for InternationalDevelopment:
Net obligations and loanauthorizations:
1962-70 average1971
Repayments and interest:1962-70 average1971
Export-Import Bank long-termloans:
Loan authorizations:1962-70 average1971
Repayments and interest:1962—70 average1971
Food for Peace:
Obligations:1962-70 average1971
Repayments and interest:1962-70 average1971
Contributions and Subscriptionsto International Lending Or-ganizations:3
Obligations:1962-70 average1971
Peace Corps and other:*
Obligations:1962-70 average1971
Repayments and interest:1962-70 average1971
Total
4,6012,4272,175
4,7312,5662,165
4,3634,023
8111,230
2,0881,700
111322
427669
426600
1,3191,228
133268
314255
215172
2540 #
NearEastand
SouthAsia
1,3641,032
334
909678231
1,365909
297425
626263
126178
93126
84105
633512
83138
128
54
LatinAmerica
1,143708435
677417259
1,143677
322469
501260
3059
198203
264351
150110
1329
20875
8728
1430
Vietnam
3660
366
5560
556
366556
92
281368
92
85188
00
EastAsia
564257308
883634249
495763
61147
218280
2334
46225
2780
198246
830
3313
CM CM
Africa
367157210
374206169
366374
3878
179162
2031
2965
1330
136127
417
2221
10
Europe
27023634
517504
14
12845
79104
10
1718
5945
3834
680
2453
Otherand
non-regional
52638
489
816128687
500699
55
281367
21
35
00
4945
00
22
61102
34
1 Some data are preliminary.3 Countries have been classified "less developed" on the basis of the standard list of less developed countries used
by the Ibasis, "considered 'Malta, Spain, and Yugoslavia.
> Includes capital subscriptsment Association, and the Asian Development Bank.
* Data for certain programs from Department of Commerce, Bureau of Economic Analysis.
Source: Agency for International Development (except as noted).
300
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TABLE B-91 .—International reserves, 1949, 1953, and 1966-71
[Millions of dollars; end of period]
Area and country
All countries..
Developed areas..
United States.
United Kingdom
Other Western EuropeAustriaBelgiumFranceGermanyItalyNetherlandsScandinavian coun-
tries (Denmark,Finland, Norway,and Sweden)
SpainSwitzerlandOther*
Canada.
Japan...
Australia, New Zealand,and South Africa
Less developed areas 3_.
Latin America.Middle East...Other AsiaOther Africa.. .
1949
45,635
37, 245
26,024
1,752
6,455929785801960)434
537
U22
1,197
0)
1,587
8,390
2,7751,4753,395<290
1953
51, 780
41,375
23, 458
2,670
10, 500325
1,144829
1,773768
1,232
1,026150
1,768
1,484
1,902
892
1,953
10,405
3,4001,2003,8401,800
1966
72,640
60,523
14,882
3,099
35,3081,3332,3506,7338,0294,9112,448
2,3411,2533,5452,365
2,702
2,119
2,413
12,115
3,1752,9153,8802,090
1967
74,270
61,281
14,830
2,695
36,7331,4842,5906,9948,1535,4632,619
2,2361,1003,6962,398
2,717
2,030
2,277
12,990
3,4503,2954,0752,100
1968
77,330
63,246
15,710
2,422
36,1721,5102,1874,2019,9485,3412,463
2,3151,1494,2932,765
3,046
2,906
2,990
14,085
3,9353,3104,2052,465
1969
78,190
62,641
16,964
2,527
33,6181,5372,3883,8337,1295,0452,529
2,2131,2814,4253,238
3,106
3,654
2,772
15,550
4,4953,0354,8203,055
1970
92,495
74,320
14,487
2,827
44,6521,7582,8474,96013,6105,3523,234
2,5361,8175,1323,398
4,679
4,840
2,831
18,175
5,6703,1205,1454,125
1971
Sep-tember
117,330
96, 360
12,130
5,013
56,9492,2313,4247,31016,9566,6663,609
3,1212,9486,5494,135
4,992
13,384
3,892
20,970
6,0804,3155,3205,130
No-vember
99,551
12,130
5,572
57, 7222,1783,3317,494
17, 3706,4313,553
3,3293,1046,531
* 4,401
5,274
14, 836
4,017
4 6,420
~*5~300
i Not available separately.' I n 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."
301
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TABLE B-92.-—U.S. reserve assets, 1946-71
[Millions of dollars]
End of year ormonth
194619471948.1949
1950195119521953.1954195519561957.19581959
19601961.196219631964..19651966196719681969
19701971
1970: JanFebMarApr . .MayJune
July .AugSeptOctNovDec
1971: JanFebMarAprMayJune
JulyAug..SeptOctNovDec
Total reserveassets
20,70624,02125,75826,024
24,26524,29924,71423,45822,97822,79723,66624,83222,54021,504
19,35918,75317,22016,84316,67215,45014,88214,83015,710
M6.964
14,487812,167
17,39617,67017,35016,91916,16516,328
16,06515,79615,52715,12014,89114,487
14,69914, 53414,34214,30713,81113,50413,28312,12812,13112,14612,131
8 12,167
Gold stock i
Total a
20,70622,86824,39924, 563
22,82022,87323,25222,09121,79321,75322,05822,85720, 58219,507
17,80416,94716,05715,59615,471
• 13,80613,23512,06510,89211,859
11,07210,206
11,88211,90611,90311,90211,90011,889
11,93411,81711,49411,49511,47811,072
11,04011,03910,96310,92510,56810, 50710,45310,20910, 20710, 20710,20610,206
Treasury
20,52922,75424,24424,427
22,70622,69523,18722,03021,71321,69021,94922,78120,53419,456
17,76716,88915,97815,51315,388
•13,73313,15911,98210,36710,367
10,73210,132
11,36711,36711,36711,36711,36711,367
11,36711,36711,11711,11711,11710,73210,73210,73210,73210, 73210,33210,33210,33210,13210,13210,13210,13210,132
Specialdrawingrights»
8511,100
899919920926925957
961961991991961851
1,4681,4681,4431,4431,2471,247
1,1471,0971,0971,1001,1001,100
Convertibleforeign
currencies *
11699
212432781
1,3212,3453,528
'2,781
6298 276
2,2942,3381,9501,581
9801,132
716695
1,098811640629491327256257318322
250248250259243
8 276
Reserveposition in
InternationalMonetary Fund1
1 1531 3591,461
1,4451,4261 4621,3671,1851,0441,6081,9751 9581,997
1,5551,6901,0641,035
769•863
326420
1,2902,324
1,935585
2,3212,5072,5772,5102,3602,350
2,4542.3231,9441,8231,8121,935
1,7001,7001,6801,6821,6781,428
1,433574577580582585
1 Includes gold sold to the United States by the International Monetary Fund (IMF) with the right of repurchase, whichamounted to $400 million on December 31,1971. 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 $144 million on December 31,1971. The United States has a corresponding gold liabilityto the IMF.
2 Includes gold in Exchange Stabilization Fund.3 Includes initial allocation on January 1,1970 of $867 million and second allocation on January 1,1971 of $717 million
of special drawing rights (SDR) in the Special Drawing Account in the IMF, plus or minus transactions in SDR.< Includes holdings of Treasury and Federal Reserve System.9 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.
• Reserve position includes, and gold stock excludes, $259 million gold subscription to the Fund in June 1965 for a U.S.quota increase which became effective on February 23,1966. In figures published by the Fund from June 1965 throughJanuary 1966, this gold subscription was included in the U.S. gold stock and excluded from the reserve position.
7 Includes gai n of $67 million resulting from revaluation of German mark in October 1969, of which $13 million representsgain on mark holdings at time of revaluation.
8 Includes $28 million increase in dollar value of foreign currencies revalued to reflect market exchange rates as ofDecember 31,1971.
Note.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is not included inthe gold stock of ths United States.
Sources: Treasury Department and Board of Governors of the Federal Reserve System.
302
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TABLE B-93.—Price changes in international trade, 1963-71
[1963=100]
Area or commodity class 1963 1964 1965 1966 1967 1968 1969 1970
1971
Thirdquarter
Developed areas
Total:ExportsTerms of trade l_
United States:Exports
Terms of trade »..
Developing areas
Total:ExportsTerms of trade l .
Latin America:ExportsTerms of trade1..
Southern and Eastern Asia3:
ExportsTerms of trade L
Primary commodities: Total.
Foodstuffs
Coffee, tea, and cocoa.Cereals
Other agricultural commodities *
Fats, oils, and oilseeds..Textile fibers
WoolRubber
MineralsMetal ores..
Manufactured goods: Total «__.
Nonferrous base metals K.
100100
100100
100100
100100
100100
Unit value indexes by area
102100
10199
103101
107106
10098
103100
104101
102100
106103
10199
105100
107101
104101
108103
101100
105101
110102
103100
105100
9999
104101
111103
103101
10699
97100
108101
115103
106102
109100
103103
114102
121101
109100
115101
106104
World export price Indexes
100
100
100100
100
100100100100
100100
100
100
103
105
121103
102
10410210395
102108
101
119
103
103
11199
103
114928697
104114
103
135
104
105
113104
104
111929091
104105
106
156
101
104
HI106
96
102887775
103109
107
142
100
102
111102
96
100887473
102108
107
150
104
106
120102
101
101857399
104114
110
168
107
111
13899
100
109846482
109122
117
175
120102
12498
2 1132 101
2 1082 91
2 1082 103
113
113
122104
100
109825769
123125
124
161
1 Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.2 Data are for second quarter 1971.1 Excludes Japan.* Includes nonfood fish and forest products.* Data for manufactured goods are unit value indexes.
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).
303
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TABLE B-94.—Consumer price indexes in the United States and other major industrial countries,1957-71
[1953 = 100]
Period
195719581959
I9601961196219631964
19651966196719681969
197019711
1969: 1 .IfIllIV.. .
1970: 1 .IIIIIIV
1971* 1IIIII| V 2
UnitedStates
91.994 495.2
96.797.798 8
100.0101.3
103.1106.0109 1113 6119.7
126.8132.3
117.0119.0120.7122.4
124.2126.2127.6129.3
130.3131.7133.0133.8
Canada
91.794 195.1
96.297.198.3
100.0101.8
104.3108.2112.0116 6122.0
126.0129.2
119.3121.6123.1123.8
125.0126.1126.7126.5
127.1128.9130.8131.1
Japan
79.378 979.8
82.687.093.0
100.0103.9
110.7116.4121.0127 5134.1
144.4152.7
130.5132.8135.8137.5
141.1142.9144.6149.2
150.5152.4155.3159.4
France
69.680 185.0
88.191.095.4
100.0103.4
106.0108.9111.8116 9124.4
131.2137.6
121.6123.2124.7126.5
129.0130.6131.9133.4
135.3137.4139.3140.7
Germany
88.190.090.9
92.194.397.1
100.0102.3
105.8109.5111.1113 1116.1
120.6126.2
115.3116.0116.0117.0
119.4120.4120.6121.7
124.4126.3127.3128.3
Italy
83.285.585.1
87.188.993.1
100.0105.9
110.7113.3116.9118.5121.6
127.6133.1
119.7120.9122.3123.5
125.4127.1128.1130.1
131.7133.2134.3135.0
Nether-lands
889091
939597
100106
111.0117.4121.4125.9135.3
141.3151.1
133.6135.7135.2136.5
138.2140.4142.5144.1
147.3151.1153.3156.0
UnitedKingdom
86.989.590.0
90.994.098.0
100.0103.3
108.2112.4115.2120.6127.2
135.3147.3
125.2127.2127.4129.0
131.5134.6136.1139.0
142.8147.9149.9150.9
i For United States, 12-month average; for all other countries, January-October average, except Italy and JapanJanuary-September average.
»October-December average for United States; October data for all other countries, except September data for Italy andJapan.
Sources: Department of Labor and Organization for Economic Cooperation and Development.
304U.S. GOVERNMENT PRINTING OFFICE :1972 O—451-688
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