erp tables 1960 4

Appendix D

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

149

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS

National income or expenditure: PageD-l. Gross national product or expenditure, 1929-59 155D-2. Gross national product or expenditure, in 1959 prices, 1929-59 156D-3. Gross private and government product, in current and 1959 prices,

1929-59 158D-4. Gross national product or expenditure, in 1954 prices, 1929-59 159D-5. Implicit price deflators for gross national product, 1929-59 160D-6. Gross national product: Receipts and expenditures by major economic

groups, 1929-59 162D-7. Personal consumption expenditures, 1929-59 164D-8. Gross private domestic investment, 1929-59 165D-9. National income by type of income, 1929-59 166D-10. Relation of gross national product and national income, 1929-59. . . . 167D—11. Relation of national income and personal income, 1929-59 168D-12. Sources of personal income, 1929-59 169D-l 3. Disposition of personal income, 1929-59 170D-l 4. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1959 prices, 1929-59 171D-l5. Financial saving by individuals, 1939-59 172D-l 6. Sources and uses of gross saving, 1929-59 173

Employment and wages:D-l 7. Noninstitutional population and the labor force, 1929-59 174D-l 8. Employment and unemployment, by age and sex, 1942-59 176D-l 9. Employed persons not at work, by reason for not working, and special

groups of unemployed persons, 1946—59 177D-20. Unemployed persons, by duration of unemployment, 1946-59 178D-21. Unemployment insurance programs, selected data, 1939 and 1946-59. 179D-22. Number of wage and salary workers in nonagricultural establishments,

1929-59 180D-23. Average weekly hours of work in selected industries, 1929-59 182D-24. Average gross hourly earnings in selected industries, 1929-59 183D-25. Average gross weekly earnings in selected industries, 1929-59 184D-26. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-59 185D-27. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1959 prices, 1939-59 186D-28. Labor turnover rates in manufacturing industries, 1930-59 187

Production and business activity:D-29. Industrial production indexes, 1947-59 188D-30. Business expenditures for new plant and equipment, 1939 and 1945-60 . 190D-31. New construction activity, 1929-59 191D-32. New public construction activity, 1929-59 192D-33. Housing starts and applications for financing, 1929-59. . . 193D-34. Sales and inventories in manufacturing and trade, 1939-59 194D-35. Manufacturers' sales, inventories, and orders, 1939-59 195

533287 0—60 11 15l


Prices: PageD-36. Wholesale price indexes, 1929-59 196D-37. Wholesale price indexes, by stage of processing, 1947-59 198D-38. Consumer price indexes, by major groups, 1929-59 200D-39. Consumer price indexes, by special groups, 1935-59 201

Money supply, credit, and finance:D-40. Deposits and currency, 1929-59 202D-41. Loans and investments of all commercial banks, 1929-59 203D-42. Federal Reserve Bank credit and member bank reserves, 1929-59 . . . . 204D-43. Bond yields and interest rates, 1929-59 205D-44. Short- and intermediate-term consumer credit outstanding, 1929-59 . . 207D-45. Instalment credit extended and repaid, 1946-59 208D—46. Mortgage debt outstanding, by type of property and of financing,

1939-59 209D-47. Net public and private debt, 1929-59 210

Government finance:D-48. U. S. Government debt, by kind of obligation, 1929-59 211D-49. Estimated ownership of Federal obligations, 1939-59 212D—50. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1952-59 213D—51. Federal budget receipts and expenditures and the public debt,

1929-61 214D-52. Federal budget receipts by source and expenditures by function, fiscal

years 1946-61 215D—53. Government cash receipts from and payments to the public, 1946-61. . 216D-54. Government receipts and expenditures as shown in the national income

accounts, 1954-59 217D—55. Reconciliation of Federal Government receipts and expenditures in

the conventional budget and the consolidated cash statement withreceipts and expenditures in the national income accounts, fiscalyears 1957-59 218

D-56. State and local government revenues and expenditures, selected fiscalyears, 1927-58 219

Corporate profits and finance:D-57. Profits before and after taxes, all private corporations, 1929-59 220D-58. Relation of profits before and after taxes to stockholders' equity and

to sales, private manufacturing corporations, by asset size class,1956-59 221

D-59. Relation of profits after taxes to stockholders' equity and to sales,private manufacturing corporations, by industry group, 1956-59. . 222

D-60. Sources and uses of corporate funds, 1948-59 224D-61. Current assets and liabilities of United States corporations, 1939-59. . 225D-62. State and municipal and corporate securities offered, 1934-59 226D-63. Common stock prices and earnings and stock market credit, 1939-59 . 227D-64. Business population and business failures, 1929-59 228

Agriculture:D-65. Income of the farm population, 1929-59 229D-66. Indexes of prices received and prices paid by farmers, and parity

ratio, 1929-59 230D-67. Farm production indexes, 1929-59 232D-68. Selected measures of farm resources and inputs, 1940-59 233D-69. Farm population, employment, and productivity, 1929^59 234D-70. Selected indicators of farming conditions, 1929-59 235D-71. Comparative balance sheet of agriculture, 1940-60 236

152


International statistics: PageD-72. United States balance of payments, 1953-59 237D-73. U.S. Government grants and credits, by areas and major countries,

fiscal years 1954-59 238D-74. United States imports of miscellaneous consumer manufactures,

1953-59 241D-75. Estimated gold reserves and dollar holdings of foreign countries and

international institutions, selected periods, 1952-59 242D-76. Price changes in international trade, 1956-59 243


NATIONAL INCOME OR EXPENDITURETABLE D-l.—Gross national product or expenditure, 1929-59

[Billions of dollars]

Period

1929193019311932_193319341935193619371938 -1939194019411942 _ _1943194419451946.19471948 _.19491950195119521953195419551956195719581959 6

1957:First quarterSecond quarter ...Third quarterFourth quarter. ,

1958:First quarterSecond quarter. ..Third quarterFourth quarter. .

1959:First quarterSecond quarter. _ _Third quarterFourth quarter6.

Totalgrossna-

tionalprod-uct

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1397.5419.2442.5441.7478.8

Per-sonalcon-

sump-tionex-

pendi-tures i

79.071.061.349.346.451.956.362.667.364.667.671.981.989.7

100.5109.8121.7147.1165.4178.3181.2195.0209.8219.8232.6238.0256.9269.9284.8293.0311.4

Gross private do-mestic investment 2

1EH

16.210.35.5.9

1.42.96.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.050.056.349.950.348.963.867.466.654.970.3

g

|

8fc&

8.76.24.01.91.41.72.33.34.44.04.85.56.63.72.32.73.8

11.015.319.518.824.224.825.527.629.734.935.536.135.840.3

1(H -M

f t

3 O1

rPH

5.84.52.81.61.62.33.14.25.13.64.25.56.94.34.05.47.7

10.716.718.917.218. §21.321.322.320.823.127.228.522.926.1

'§ g•siii!«go1.7

-.4-1.3-2.6-1.6-1.1

.91.02.2-.9

.42.24.51.8

-.8-1.0-1.1

6.4-.54.7

-3.16.8

10.23.1.4

-1.65.84.72.0

-3.83.9

Net exports ofgoods andservices 3

e1

I

0.8.7.2.2.2.4

-.1-.1

.11.1.9

1.51.1

-.2-2.2-2.1-1.4

4.99.03.53.8.6

2.41.3

-.41.01.12.94.91.2

.2

IwH

7.05.43.62.52.43.03.33.54.64.34.45.46.04.94.55.47.4

12.817.914.514.013.117.917.416.617.519.423.126.222.6(7)

42

aa6.34.83.42.32.32.53.33.64.53.23.53.84.85.16.87.58.87.98.9

11.010.212.515.516.117.016.518.320.221.321.3(7)

Government purchases ofgoods and services

"cS"oEH

8.59.29.28.18.09.8

10.011.811.712.813.314.124.859.788.696.582.930.528.434.540.239.060.576.082.875.375.679.086.292.697.9

Federal

3"oEH

1.31.41.51.52.03.02.94.84.65.35.26.2

16.952.081.289.074.820.615.619.322.219.338.852.958.047.545.345.749.452.253.6

"* rto«2£ 00C3T3

1.

1.1.1.2.3.2.4.4.5

1.32.2

13.849.680.488.675.918.811.411.613.614.333.946.449.341.239.140.444.344.545.8

;_,o>£0

345500986,33.94.03.22.71.51.61.04.55.48.28.95.25.26.79.06.76.65.75.58.18.1

llO w

??SCO O>

(5)8(9)(5)(')(•)(5)(6)<•)(5)(s)(•)0.2.6

1.22.22.71.1.5.2.1.3.3.3.3.4.3.4.5.4

T5cc80503

OQ

7.27.87.76.66.06.87.17.07.27.58.27.97.87.77.47.58.19.9

12.715.217.919.721.723.224.927.730.333.236.840.544.3

Seasonally adjusted annual rates

437.7442.4447.8442.3

431.0434.5444.0457.1

470.2484.5478.6482.0

279.8282.9288.2288.1

287.3290.9294.4299.1

303.9311.2313.3317.0

66.968.367.963.2

52.451.354.261.3

69.877.567.067.0

35.836.036.236.1

35.534.635.437.3

39.741.041.039.5

28.828.629.027.7

23.822.622.223.2

23.926.027.027.5

2.23.62.7-.6

-6.9-5.8-3.4

.8

6.110.4

-1.0.0

6.05.15.13.5

2.01.21.6.2

-.9-1.8

.0

.0

27.026.426.624.9

22.222.323.122.7

21.522.124.1(7)

21.021.321.521.3

20.221.121.522.5

22.423.924.1(7)

84.986.186.687.4

89.391.193.896.5

97.497.798.498.0

49.149.749.749.1

50.151.353.154.2

53.853.953.653.0

43.744.944.943.9

44.044.344.545.3

45.846.245.945.5

5.85.25.35.7

6.67.58.99.4

8.38.08.18.0

0.4.3.5.5

.5

.5

.3

.6

.3

.3

.4

.4

35.836.536.938.3

39.239.740.842.2

43.643.844.845.0

1 See Table D-7 for major components.2 See Table D-8 for more detail and explanation of components.3 For 1929-45, net exports of goods and services and net foreign investment have been equated, since foreign

net transfers by Government were negligible during that period.4 This category corresponds closely to the major national security classification in the Budget of the United

States Government for the Fiscal Year ending June SO, 1961. See Table D-52.8 Less than $50 million.• Preliminary estimates by Council of Economic Advisers.7 Not available.NOTE.—Detail will not necessarily add to totals because of rounding.

Source: Department of Commerce (except as noted).

155


TABLE D-2.—Gross national product or expenditure, in 1959 prices, 1929-591

[Billions of dollars, 1959 prices]

Period

1929

1930193119321933.1934

19351936193719381939

19401941194219431944

19451946194719481949

1950195119521953 . -.1954

195519561957195819597

1957:First quarterSecond quarter..Third quarter...Fourth quarter. .

1958:First quarterSecond quarter..Third quarter. _.Fourth quarter. .

1959:First quarterSecond quarter..Third quarter...Fourth quarter 7_

Totalgross

nationalproduct

203.6

184.4170.3144.8141.4155.1

170.3194.5204.8195.2211.5

229.9267.7304.1341. 6366.3

359.9316.0315.7327.9328.2

356.2385. 0399.0417.1408.8

441.5450.9458.9448.6478.8

Per

Total

138.6

130. 3126.2114.8112.1117.9

125.2138.0142.9140.4148.3

156.3166.7162.9167.2173.1

185.2207.8211.4215.4220.9

234.5236.4242.5254.2257.5

277.0286.0293.1295.9311.4

sonal consumptionexpenditures

Dura-ble

goods

15.9

12.711.08.38.19.2

11.414.114.712.014.2

16.418.911.610.19.2

10.520.724.926.328.2

34.431.230.535.434.7

42.440.741.238.343.0

Non-durablegoods

69.3

65.965.660.458.662.5

66.073.576.077.381.4

85.290.992.795.699.8

107.7114.3111.8111.6112.9

116.0118. 1122.1125.6126.7

133.2138.3140.8142.0147.8

Services

53.4

51.749.746.145.446.2

47.850.452.151.152.7

54.756.958.661.564.1

67.072.874.677.679.9

84.187.189.993.296.1

101.4106.9111.1115.6120.6

Gross private domestic investment

Total

41.5

28.317.54.95.59.6

18.425.431.218.425.7

34.043.122.113.314.8

20.550.049.958.446.4

65.768.359.860.457.9

73.573.169.156.070.3

New construction

Total

24.5

18.212.87.15.46.0

7.911.013.211.814.2

15.917.89.15.25.7

7.820.323.326.526.1

31.930.530.432.234.7

39.537.837.336.840.3

Resi-dential(non-farm)

9.9

5.84.82.41.82.2

3.55.25.75.87.7

8.39.04.12.01.7

2.18.3

11.013.012.8

17.714.714.615.517.5

20.718.517.518.522.3

Other

14.6

12.48.04.73.63.9

4.45.87.66.06.5

7.68.95.03.24.0

5.812.012.413.513.3

14.215.815.816.717.2

18.819.319.818.218.0

Produc-ers'

durableequip-ment

13.6

10.77.24.34.56.1

8.211.212.78.8

10.3

13.315.69.08.4

11.2

15.519.626.427.724.1

25.926.826.527.425.3

27.430.430.023.426.1

Changein busi-

nessinven-tories

3.4

-.6-2.5-6.5-4.4-2.5

2.43.25.3

-2.31.2

4.99.63.9-.2

-2.0

-2.810.1

.24.2

-3.8

7.911.12.9.8

-2.2

6.65.01.9

-4.23.9


459.5460.9461.5453.7

439.4441.9450.9462.2

473.3486.1477.3478.6

290.8292.2295.4294.0

290.9293.6297.7301.4

305.6312.1312.7314.9

41.541.141.740.4

37.737.537.740.1

41.544.143.542.9

139.9140.5142.1140.8

139.4141.0143.6143.9

145.8148.3148.0148.9

109.4110.6111.7112.8

113.8115.1116.3117.3

118.3119.7121.2123.2

70.571.170.164.7

53.452.455.462.5

70.277.266.667.2

37.537.237.337.1

36.635.636.538.0

40.040.940.739.7

17.717.417.417.5

17.517.518.520.3

22.023.022.521.7

19.819.819.919.6

19.118.117.917.8

18.017.918.218.0

30.730.230.328.7

24.523.122.723.5

24.126.026.927.5

2.43.82.5

—1.1

—7.7—6.2—3.7

.9

6.110.4

—1.0.0

See footnotes at end of table, p. 157.

156


TABLE D-2.—Gross national product or expenditure, in 1959 prices, 1929-59 l—Continued


Period

192919301931. .193219331934.... ...1935 . ..19361937193819391940194119421943.--1944 _._194519461947.. _194819491950195119521953 .. . ._ _.1954

19551956195719581959 7

1957- First quarter _ . . .Second quarterThird quarterFourth quarter

1958: First quarter _Second quarterThird quarterFourth quarter

1959' First quarter ._Second quarterThird quarterFourth quarter 7

Netexportsof goods

andservices 2

1.11.0.4.3

-.3(6)-1.3-1.4-.81.61.11.9.3

-2.2-5.8-5.9-4.6

5.09.43.13.81.43.62.6.5

2.4

2.54.35.81.8

-.7

Government purchases of goods and services

Total

22.424.726.124.824.127.527.832.531.434.936.537.757.7

121.2166.9184.2158.853.245.050.957.154.676.694.1

102.091.1

88.687.590.994.997.9

Federal

Total 2

3.64.14.54.76.48.48.1

12.411.713.913.315.937.2

102.5149.9167.6141.834.123.427! 730.626.247.564.571.157.6

52.750.551.853.353.6

Nationaldefense 8 4

(5)(5)(5)(s)(5)0)(5)(5)(5)(5)

3.25.7

30.297.3

147.2164.7139.826.715.315.918.419.141.156.360.149.5

45.044.246.145.045.5

Other

(«)(5)

(5)(5)(5)(s)(s)(5)(5)(s)10.110.27.05.32.72.91.97.48.1

11.812.27.06.48.2

11.08.1

7.66.35.88.38.1

State andlocal

18.820.721.620.117.719.219.720.119.821.023.121.820.518.717.016.717.019.021.523.226.528.429.129.630.933.5

35.937.039.041.644.3


6.96.25.94.1

2.61.82.3.5

-.9-1.7

.1i

91.391.490.190.8

92.594.195.497.7

98.498.598.096.6

52.752.651.350.8

51.853.253.654.8

54.454.553.452.2

46.547.145.844.9

44.945.444.645.2

46.046.445.344.4

6.25.55.45.9

6.87.89.09.5

8.48.18.17.8

38.638.938.840.0

40.840.941.843.0

44.144.044.644.4

1 These estimates represent an approximate conversion of the Department of Commerce series in 1954prices. (See Tables D-4 and D-5.) This was done by major components, using the implicit price indexesconverted to a 1959 base. Although it would have been preferable to redeflate the series by minor compo-nents, this would not substantially change the results except possibly for the period of World War II, andfor the series on change in business inventories.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U, S. Income andOutput, A Supplement to the Survey of Current Business, 1958.

2 For 1929-45, net exports of goods and services and net foreign investment have been equated, since foreignnet transfers by Government were negligible during that period.

3 Net of Government sales, which are not shown separately in this table. See Table D-l for Governmentsales in current prices.

« See Table D-l, footnote 4.5 Not available separately.6 Less than $50 million.7 Preliminary.NOTE.—Detail will not necessarily add to totals because of rounding.

Sources: Department of Commerce and Council of Economic Advisers.

157


TABLE D-3.—Gross private and government product, in current and 1959 prices, 1929-59


Period

1929

19301931193219331934

1935.. ._1936193719381939

19401941194219431944

1945 _.1946194719481949

19501951195219531954

19551956 .1957195819595.

Current prices

Totalgrossna-

tionalprod-uct

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.5441.7478.8

Gross private product l

Total

100.1

86.671.654.051.359.4

66.675.583.977.683.5

92.8116.4144.0167.0179.2

178.4189.9217.6242.0238.7

263.8301.7316.0333.6330.8

363.5382.8403.5399.6434.1

Farm 2

9.8

7.76.24.44.64.3

6.96. 38.16.76.5

6.89.4

13.415.315.7

16.219.320.723.819.3

20.523.622.820.920.3

19.619.319.422.020.5

Non-farm

90.3

78.865.449.646.755.1

59.669.275.870.977.0

86.0107.0130.6151.7163.5

162.2170.7196.9218.2219.4

243.2278.2293.2312.7310.5

343.9363.5384.2377.6413.6

Grossgov-ern-

mentprod-uct3

4.3

4.54.74.44.75.6

5.97.36.97.67.6

7.89.4

15.125.632.2

35.220.716.717.419.4

20.827.331.031.832.3

34.036.439.042.144.8

1959 prices «

Totalgrossna-

tionalprod-uct

203.6

184.4170.3144.8141.4155.1

170.3194.5204.8195.2211.5

229.9267.7304.1341.6366.3

359.9316.0315.7327.9328.2

356.2385.0399.0417. 1408.8

441.5450.9458.9448.6478.8

Gross private product 1

Total

190.1

170.1155.9130.7126.3137.6

151.6172.6184.1172.8188.9

206.6238.8262.0275.6290.0

285.1276.8285.8298.0296.8

323.7344.6355.4374.0366.4

399.2408.0415.2404.7434.1

Farm2

15.6

14.316.715.715.512.8

15.713.416.716.916.9

16.617.819.417.818.2

17.217.416.018.317.4

18.417.117.818.519.3

20.319.919.620.620.5

Non-farm

174. 5

155.8139.2115.0110.8124.8

135.9159.2167.4155. 9172.0

190.0221.0242.6257.8271.8

267.9259.4269.8279.7279.4

305.3327.5337.6355.5347.1

378.9388.1395.6384.1413.6

Grossgov-ern-

mentprod-uct 3

13.6

14.214.414.115.217.5

18.721.920.722.422.6

23.228.942.166.076.3

74.839.229.929.931.4

32.540.443.643.142.4

42.342.943.643.944.8

1 Gross national product less compensation of general government employees, i. e., gross product accruingfrom domestic business, households, and institutions, and from the rest of the world.

2 See Survey of Current Business, October 1958, for description of series and estimates in current and con-stant prices and implicit deflators for 1910-57.

s Includes compensation of general government employees and excludes compensation oi employees ingovernment enterprises. Government enterprises are those agencies of government whose operating costsare at least to a substantial extent covered by the' sale of goods and services, in contrast to the general activi-ties of government which are financed mainly by tax revenues and debt creation. Government enter-prises, in other words, conduct operations essentially commercial in character, even though they performthem under governmental auspices. The Post Office and public power systems are typical examples ofgovernment enterprises. On the other hand, State universities and public parks, where the fees and ad-missions cover only a nominal part of operating costs, are part of general government activities.

* 'See Table D-2, footnote 1.8 Preliminary.

NOTE.—Detail will not necessarily add to totals because of rounding.


158


TABLE D-4.—Gross national product or expenditure, in 1954 prices, 1929-59l


Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

1945 - . ._.1946194719481949

19501951195219531954

19551956195719581959 5

1957:First quarterSecond quarter...Third quarterFourth quarter..

1958:First quarterSecond quarter...Third quarter....Fourth quarter. .

1959:First quarterSecond quarter...Third quarter....Fourth quarter 5.

Totalgrossna-

tionalprod-uct

181.8

164.5153.0130.1126.6138.5

152.9173.3183.5175.1189.3

205.8238.1266.9296.7317.9

314.0282.5282.3293.1292.7

318.1341.8353.5369.0363.1

392.7400.9408.3399.0425.6

Perse(

1

128.1

120.3116.6106.0103.5108.9

115.8127.7132.1129.9137.3

144.6154.3150.8154.6160.2

171.4192.3195.6199.3204.3

216.8218.5224.2235.1238.0

256.0264.3270.8273.3287.6

nal cc3xpen

•81,2£52O

14.9

11.810.37.87.58.6

10.713.113.811.213.3

15.317.610.99.48.6

9.819.423.324.626.3

32.129.228.533.132.4

39.638.038.535.740.2

i £*

Non

dura

ble

good

s | c

c

65.3

62.161.856.955.258.8

62.169.271.672.876.7

80.285.687.390.094.0

101. 4107.6105.3105.1106.3

109.2111.2115.0118.3119.3

125.4130.3132.6133.7139.2

Dtion

1'>1

48.0

46.444.641.440.841.5

42.945.346.845.947.2

49.151.152.655.257.6

60.265.367.069.671.7

75.578.280.883.786.3

91.096.099.8

103.8108.3

Gross

1

35.0

23.615.03.94.07.4

16.121.027.015.521.6

29.036.718.810.712.3

17.042.441.549.838.5

55.957.750.450.648.9

62.561.758.547.359.7

private domesticinvestment

o

to

120.9

15.410.96.04.65.1

6.79.4

11.310.112.2

13.615.37.84.44.8

6.617.319.922.722.3

27.426.026.027.629.7

33.932.331.931.534.6

^1

3 o*•6 «2

ll.l

8.85.93.53.75.0

6.79.2

10.57.38.5

10.912.97.46.99.2

12.716.121.722.819.8

21.322.021.822.520.8

22.525.024.619.321.5

L.S"S

I'*63.0

-.7-1.8-5.6-4.2-2.8

2.62.45.2

-1.81.0

4.58.63.6-.6

-1.7

-2.49.0-.14.4

-3.6

7.29.72.6

6.14.52.0

-3.53.7

Netex-

portsof

goodsandserv-ices 2

0.2

.2-.3-.3-.8-.6

-1.9-2.2-1.6

.8

.3

1.1-.6

-2.9-6.6-6.7

-5.63.88.02.02.6

.22.21.2-.91.0

.92.53.8.0

-2.6

Governmentpurchases ofgoods andservices

3o

18.5

20.521.620.519.922.8

23.026.926.028.830.1

31.147.7

100.1137.9152.2

131.243.937.242.147.2

45.163.377.784.375.3

73.272.375.178.480.9

fi

I2.9

3.43.73.95.36.9

6.710.39.6

11.411.0

13.130.784.7

123.9138.4

117.128.219.422.925.3

21.639.353.358.847.5

43.541.742.844.144.3

1

15.6

17.117.916.614.615.8

16.316.616.417.419.1

18.016.915.414.013.8

14.015.817.819.221.9

23.524.124.525.527.7

29.730.632.334.436.6

Grosspri-vate

prod-uct 4

171.5

153.7142.0119.4115.0125.1

138.7156.6167.8158.0172.1

188.1216.0234.8246. 4259.8

257.0252.7259.6270.3268.7

293.3311.1320.4336.2330.8

360.4368.2375.0365.5391.5


408.7410.1410.6403.8

391.0393.1400.9410.8

420.6431.8424.3425.7

268.7270.0273.0271.6

268.7271.1275.0278.4

282.3288.3288.8290.8

38.838.438.937.7

35.235.035.337.5

38.841.240.640.1

131.8132.3133.8132.6

131.3132.7135.3135.6

137.3139.7139.4140.2

98.299.3

100.3101.3

102.2103.4104.4105.3

106.2107.4108.8110.6

59.660.359.254.9

45.044.246.653.0

59.765.756.457.1

32.031.831.931.7

31.330.531.232.6

34.335.134.934.0

25.224.824.923.6

20.119.018.619.3

19.821.322.122.6

2.33.72.5-.5

-6.4-5.3-3.2

1.1

5.69.2-.6

.5

4.94.23.92.3

.8

.1

.5-1.4

-2.7-3.5-1,9-2.0

75.475.574.575.0

76,577.778.980.8

81.381.481.079.8

43.543.442.441.9

42.843.944.345.2

44.945.044.143.1

31.932.132.133.1

33.733.834.635.5

36.436.436.936.7

i1 For explanation of conversion of estimates in current prices to those in 1954 prices, see 17. S. Income and

Output, A Supplement to the Survey of Current Business, 1958. See Table D-5 for implicit price deflators.2 For 1929-45, net exports of goods and services and net foreign investment have been equated, since foreign

net transfers by Government were negligible during that period.3 Net of Government sales.4 Gross national product less compensation of general government employees.• Preliminary estimates by Council of Economic Advisers.6 Not available.NOTE.—Detail will not necessarily add to totals because of rounding.


159


TABLE D-5.—Implicit price deflators for gross national product, 1929—59

[Index numbers, 1954=100]

Period

1929

1930 - _ - -1931193219331934

1935193619371938 _1939

1940194119421943 -1944

19451946 _194719481949

19501951195219531954

1955 ...19561957 .195819592

1957' First QuarterSecond quarter,. __ _ _Third quarterFourth quarter

1958: First quarterSecond quarter.Third quarterFourth quarter

1959: First quarterSecond quarterThird quarterFourth quarter 2

Grossnational

prod-uct 1

57.4

55.449.944.944.246.9

47.447.749.548.748.1

48.952.959.664.966.5

68.074.683.088.588.2

89.596.298.199.0

100.0

101.2104. 6108.4110.7112.5

107.1107.9109.1109. 5

110.2110. 5110.7111.3

111.8112.2112.8113.2

Personal consumptionexpenditures

Total

61.6

59.052.646.544.847.6

48.649.150.949.849.2

49.753.159.565.068. f>

71.076.584.689.588.7

89.996.098.099.0

100.0

100.4102.1105.1107.2108.3

104.1104.8105.6106.1

107.0107.3107.1107.5

107.6107.9108.5109.0

Dura-ble

goods

62.0

60.553.547.046.148.8

47.947.950.350.850.2

50.754.864.270.378.7

82.882.088.492.493.5

94.6101.1102.299.4

100.0

100.1101.3104.8105.2107.0

103.9104.8105.0105.3

104.7104.9105.2106.0

106.4107.1107.3107.3

Non-durable

goods

57.7

54.846.940.040.345.3

47.247.449.146.745.8

46.450.558.865.869.5

72.278.888.794.090.9

91.499.0

100.199.7

100.0

99.5100.9103.9106.1106.2

102.8103.4104.5104.8

106. 3106.6105. 8106.0

105.8105.7106.2107.0

Services

66.8

64.260.355.350.750.7

50.951.953.854.554.5

54.856.859.862.865.5

67.171.176.881.783.6

85.989.893.697.7

100.0

101.7104.1107.0109.2111.4

106.0106.6107.3108.0

108.6109.0109.3109.9

110.5111.1111.8112.1

Gross private domesticinvestment !

New construction

Total

41.7

40.036.531.131.233.3

34.134.839.039.139.0

40.143.447.653.056.3

57.863.776.685.984.3

88.395.398.4

100.1100.0

103.1109.8113.2113.7116.5

111.9113.3113.7113.8

113.4113.5113.3114.4

115.8116.8117.4116.1

Resi-dential

non-farm

41.8

40.837.130.129.833.1

32.634.337.839.239.5

40.944.647.751.456.2

60.065.378.488.685.9

90.997.5

100.3101.3100.0

103.0109.0110.8111.1114.0

110.4110.9111.2110.9

111.2110.2110.8111.9

113.6114.3114.9113.1

Other

41.6

39.736.231.731.933.4

35.435.239.939.138.4

39.142.247.654.056.3

56.962.674.883.182.6

85.193.196.598.9

100.0

103.2110.7115.3116.4119.8

113.4115.5116.0116.5

115. 6116.9115.9117.5

118.6120.1120.6119.9

Pro-ducers'durableequip-ment

52.5

50.547.945.543.145.9

45.645.448.750.249.4

50.654.058.558.459.3

60.066.776.883.187.0

89.096.897.599.0

100.0

102.6109.0115.8119.0121.6

114.2115.4116.4117.4

118.2119.0119.3119.7

120.8122.0122.0121.6


160


TABLE D-5.—Implicit price deflators for gross national product, 7929-59—Continued

[Index numbers, 1954=100]

Period

1929 -

1930 .-1931193219331934

193519361937-19381939-

1940_-19411942 _ _ _ _ _ _19431944

19451946. . _ _ _194719481949

1950. _ _ . .19511952.19531954

195519561957195819592

1957: First quarter _Second quarterThird quarter.Fourth quarter

1958: First quarter. _Second quarterThird quarterFourth quarter. .

1959: First quarterSecond quarterThird quarterFourth quarter 2

Exports and imports ofgoods and services l

Exports

63.1

55.043.236.235.243.0

44.746.048.946.546.9

51.256.164.968.173.3

75.380.893.498.692.7

90.3103.3103.0101.0100.0

100.7103.4107.3104.6105.4

(')C1)0)C1)

0)C1)c1)0)

C1)0)(')0)

Imports

57.3

48.939.732.329.333.8

36.036.941.138.038.6

40.943.048.951.353.3

57.465.579.786.382.0

87.8102.8102.898.2

100.0

99.9101.8103.298.897.1

C1)C1)0)0)

0)(>)0)0)

C1)0)0)(')

Government purchases of goodsand services

Total

45.8

44.942.739.440.342.9

43.444.045.144.544.2

45.251.959.664.363.4

63.269.476.482.085.1

86.595.597.898.3

100.0

103.3109.2114.9118.1121.0

112.6114.0116.3116.5

116.8117.2119.0119.4

119.7120.1121.5122.8

Federal

44.5

41.841.738.238.343.2

43.746.947.346.146.8

47.055.161.465.664.3

63.973.080.884.488.0

89.698.799.298.6

100.0

104.1109.7115.4118.4121.0

112.8114.4117.3117.0

117.2116.9119.7119.9

119.8119.8121.6123.0

State andlocal

46.1

45.543.039.741.142.8

43.342.243.843.442.7

43.946.249.852.754.6

57.463.071.579.381.7

83.790.294.897.5

100.0

102.2108.6114.2117.7121.0

112.3113.6115.0115.9

116.3117.6117.9118.9

119.6120.4121.4122.6

1 Separate deflators are not available for total gross private domestic investment, change in businessinventories, and net exports of goods and services, and for exports and imports quarterly.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, A Supplement to the Survey of Current Business, 1958.

2 Preliminary estimates by Council of Economic Advisers.


161


TABLE D-6. — Gross national product: Receipts and expenditures by major economic groups*1929-59


Period

1929

19301931 _193219331934

19351936193719381939

19401941 .-194219431944

19451946194719481949

19501951195219531954

19551956195719581959 « - -

1957: First quarterSecond quarterThird quarterFourth quarter

1958: First quarter __Second quarterThird quarterFourth quarter

1959' First quarterSecond quarterThird quarterFourth quarter 4...

Persons

Dis-pos-ableper-sonal

income

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9307.9316. 5334.6

Per-sonalcon-

sump-tion ex-pendi-tures

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9284.8293.0311.4

Per-sonal

savingor dis-saving(-)

4.2

3.42.5-.6-.6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.123.523.3

Business

Grossre-

tainedearn-ings 1

11.5

8.85.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.045.144.0

550.6

Grossprivate

do-mesticinvest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.654.970.3

Excessof re-ceiptsor in-vest-ment(-)

-4.7

-1.5-.31.81.22.0

.1-1.9-4.0

1.2-1.0

-2.8-6.6

4.310.710.1

5.2-15.1-12.6-16.5-5.4

-22.3-24.8-16.6-16.0-13.4

-21.8-24.3-21.5-10.95-19. 7

International

Foreignnet

trans-fers bygovern-ment 2

(2)

(2)(2)(2)(2)(2)

(2)(2)(2)(2)(2)

(2)(2)(2)(2)(2)

(2)0.3.1

1.63.2

2.82.11.51.61.4

.5

.5

.5

.3

.5

Netexportsof goods

andservices 2

0.8

.7

.2

.2

.2

.4

-.1-.1

.11.1.9

1.51.1-.2

-2.2-2.1

-1.44.99.03.53.8

.62.41.3

-.41.0

1.12.94.91.2-.7

Excess oftransfersor net

exports(-)

-0.8

-.7-.2-.2-.2-.4

.1

.1-.1

-1.1-.9

-1.5-1.1

.22.22.1

1.4-4.6-8.9-1.9-.5

2.2-.2

.22.0.4

.4-1.5-3.5

.12.2


302.5308.0311.5309.9

310.3312.9320.4322.9

327.4335.3335.1340.6

279.8282.9288.2288.1

287.3290.9294.4299.1

303.9311.2313.3317.0

22.625.123.321.8

22.922.026.023.7

23.524.121.923.6

44.944.845.844.6

41.343.043.348.1

49.452.350.6(6)

66.968.367.963.2

52.451.354.261.3

69.877.567.067.0

-21.9-23.5-22.1-18.7

-11.1-8.3

-10.8-13.2

-20.3-25.2-16.3

(6)

1.41.81.21.4

1.21.31.21.5

1.51.41.51.5

6.05.15.13.5

2.01.21.6.2

-.9-1.8

.0

.0

-4.6-3.3-3.9-2.1

-.7.1

-.41.3

2.43.21.51.5



TABLE D-6.—Gross national product: Receipts and expenditures by major economic groups,1929-59—Continued


Period

1929

19301931 . _193219331934

193519361937 ..-19381939

19401941194219431944

194519461947 -. . .19481949

19501951195219531954

1955195619571958 _.- .-_1959 *

1957: First quarterSecond quarter...Third quarterFourth quarter...

1958: First quarterSecond quarterThird quarterFourth quarter. __

1959: First quarterSecond quarter. _ _Third quarterFourth quarter 4_.

Government

Tax andnontax

receipts oraccruals

11.3

10.89.58.99.3

10.5

11.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159.256.4

69.385.590.694.990.0

101.4109.5116.4114.9

6 128. 8

Less:Transfers,interest,and sub-sidies 3

1.7

1.83.12.52.63.1

3.44.13.13.84.2

4.44.04.34.86.5

10.116.515.416.519.4

22.118.918.419.221.5

23.025.328.832.934.1

Netreceipts

9.5

8.96.46.46.77.4

8.08.9

12.311.211.2

13.321.028.344.444.6

43.134.641.642.837.0

47.266.672.275.768.5

78.484.287.682.0

594.7

Purchasesof goods

andservices

8.5

9.29.28.18.09.8

10.011.811.712.813.3

14.124.859.788.696.5

82.930.528.434.540.2

39.060.576.082.875.3

75.679.086.292.697.9

Surplus ordeficit (-)on income

andproductaccount

1.00

-£ 8-1.7-1.4-2.4

-2.0-3.0

.6-1.6-2.1

-.7-3.8

-31.4-44.2-51.9

-39.74.1

13.38.2

-3.1

8.26.1

-3.9-7.1-6.7

2.95.21.4

-10.75-3.2

Statisticaldiscrep-

ancy

0.3

-1.0.8.8.9.7

-.21.1

-.2.5

1.2

.8

.4-.8

-1.72.8

4.52.13.5-.8

.5

-.71.21.41.3.9

1.0-2.4

.5-2.1

5-2.7

GROSSNATIONALPRODUCT

104.4

91.176.358.566.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210. 7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.5441.7478.8


116.4116.5117.7115.1

110.7112.2116.1120.7

125.2131.0128.9(6)

27.429.328.730.0

31.333.433.833.7

33.333.533.835.3

89.187.289.085.1

79.378.882.387.0

91.997.695.0

(fl)

84.986.186.687.4

89.391.193.896.5

97.497.798.498.0

4.11.12.4

-2.3

-10.0-12.3-11.5-9.5

-5.5-.1

-3.4(8)

-0.2.6.3

1.3

-1.2-1.5-3.3-2.4

.0-2.0-3.7

(fl)

437.7442.4447.8442.3

431.0434.5444.0457.1

470.2484.5478.6482.0

1 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumptionallowances, and excess of wage accruals over disbursements.

a For 1929-45, foreign net transfers by Government were negligible; therefore, for that period, net exportsof goods and services and net foreign investment have been equated.

3 Government transfer payments to persons, foreign net transfers by Government, net interest paid bygovernment, and subsidies less current surplus of government enterprises.

* Preliminary estimates by Council of Economic Advisers.8 Data for corporate profits and inventory valuation adjustment are approximations for the year as a whole;

they do not derive from, nor imply, specific estimates for the quarters. All other data incorporating orderived from these figures are correspondingly approximate.

8 Not available.

NOTE.—Detail will riot necessarily add to totals because of rounding.


163


TABLE D-7.—Personal consumption expenditures, 1929—59


Period

1929

19301931 .-193219331934

1935 -.1936193719381939

19401941194219431944

1945 _..1946194719481949

19501951195219531954

19551956... .19571958 .. ..1959 4

1957:First quarterSecond QuarterThird quarterFourth quarter

1958:First quarterSecond quarterThird quarter _Fourth quarter

1959:First quarterSecond quarterThird quarterFourth quarter 4

Totalper-sonalcon-

sump-tionex-

pend-itures

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9284.8293.0311.4

Durable goods

To-tal

9.2

7.25.53.63.54.2

5.16.36.95.76.7

7.89.77.06.66.8

8.115.920.622.724.6

30.429.529.132.932.4

39.638.540.337.643.0

ftTJ

§1s0fl0

<

3.2

2.21.6.9

1.11.4

1.92.32.41.62.2

2.73.4.7.8.8

1.03.96.37.49.8

13.011.611.014.013.4

18.315.817.014.017.9

i

.§!?i* 3

gS52'% °2-^£EH

4.8

3.93.12.11.92.2

2.63.23.63.13.5

3.94.94.73.93.8

4.68.7

11.011.911.5

14.014.214.114.714.8

16.617.417.417.418.6

o>fl

0

1.2

1.1.9.6.5.6

.7

.81.0.9

1.0

1.11.41.61.92.2

2.53.33.43.43.3

3.43.73.94.14.3

4.85.35.86.26.5

Nondurable goods

To-tal

37.7

34.028.922.822.326.7

29.332.835.234.035.1

37.243.251.359.365.4

73.284.893.498.796.6

99.8110.1115. 1118.0119.3

124.8131. 4137.7141.9147.8

8«~b/o M

T1 £JU%*o> o

I1

19.5

18.014.711.410.912.2

13.615.216.415.615.7

16.719.423.727.830.6

34.140.745.848.246.4

47.453.455.856.657.7

59.262.265.267.469.3

1w13cCJtJO

3J3tsO

9.4

8.06.95.14.65.7

6.06.66.86.87.1

7.48.8

11.013.414.6

16.518.218.820.119.3

19.621.121.921.921.9

23.424.525.426.127.7

a0T3so>JjJ

o

1.8

1.7.5.5.5.6

.7

.92.12.12.2

2.32.62.11.31.4

1.83.03.64.45.0

5.46.06.77.58.0

8.89.6

10.410.511.2

IO

7.0

6.35.74.85.37.2

7.99.19.89.5

10.1

10.812.314.516.718.7

20.822.925.226.025.9

27.429.530.731.831.7

33.435.236.837.939.6

Services

To-tal

32.1

29.826.922.920.721.0

21.923.525.125.025.8

26.929.031.534.737.7

40.446.451.456.960.0

64.970.275.681.886.3

92.5100.0106.7113.4120.6

b£

3

w

11.4

11.010.39.07.97.6

7.67.98.48.89.0

9.310.010.811.311.9

12.413.815.617.619.3

21.223.225.427.529.1

30.732.735.238.040.7

§sa0

T3'o3

W

4.0

3.93.53.02.83.0

3.23.43.73.63.8

4.04.34.85.25.9

6.46.77.47.98.4

9.310.110.811.712.1

13.514.815.816.917.7

§

1

W

2.6

2.21.91.61.51.6

1.71.92.01.92.0

2.12.42.73.43.7

4.05.15.56.06.1

6.36.97.48.07.9

8.38.68.99.19.4

S3£1

O

14.0

12.711.29.38.58.8

0.410.311.110.711.0

11.412.313.114.716.3

17.520.823.025.426.2

28.129.932.034.637.1

39.943.846.849.452.8


279.8282.9288.2288.1

287.3290.9294.4299.1

303.9311.2313.3317.0

40.340.340.939.7

36.936.737.139.8

41.344.143.643.0

17.217.017.316.7

13.513.613.215.7

17.218.818.217.4

17.517.517.517.2

17.217.017.617.8

17.718.818.919.0

5.65.76.15.8

6.16.16.36.3

6.46.46.56.6

135.4136.8139.7139.0

139. 5141.5143.1143.6

145. 3147.7148.0150.0

63.764.966.166.0

66.767.867.467.7

68.569.469.370.1

25.325.026.025.3

25.325.726.726.6

26.727.827.828.3

10.310.310.410.4

10.310.410.710.7

11.011.111.311.4

36.136.537.237.2

37.237.638.338.5

39.139.439.740.2

104.1105.8107.6109.4

111.0112.7114.2115.7

117.4119.4121.6124.0

34.234.835.636.3

37.037.738.439.0

39.640.341.041.9

15.315.715.916.2

16.516.817.017.2

17.317.617.818.0

8.98.99.18.9

8.99.09.19.2

9.39.39.59.5

45.746.447.147.9

48.649.249.750.3

51.152.153.454.6

1 Quarterly data are estimates by Council of Economic Advisers.2 Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.4 Preliminary estimates by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

164


TABLE D-8.—Gross private domestic investment, 1929-59


Period

1929

1930193119321933 .1934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959 s

1957:First quarterSecond quarter-Third quarter _ _Fourth quarter .

1958:First quarterSecond quarter.Third quarter _ _Fourth quarter.

1959:First quarterSecond quarter .Third quarter. _Fourth quarter 8.

Totalgrossprivate

do-mesticnvest-mcnt

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19 95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.654.970.3

Nonfarra producers'plant and equipment

Total i

9.5

7.44.52.52.33.0

3.85.16.64.75.3

7.08.75 34.66.3

9.314.820.723.321.0

23.427.428.130.229.5

33.439.441.533.836.9

Equip-ment2

5.2

4.02.61.41.52.1

2.73.64.53.13.7

4.96.13 73.54.7

6.99.8

14.916.414.4

16.218.418.619.518.5

20.625.026.220.223.2

Con-struc-tion3

4.2

3.41.91.0.8.9

1.11.42.11.61.6

2.02.61 61.11.5

2.35.05.86.96.6

7.29.19.5

10.711.0

12.814.415.213.713.7

Farm equipmentand construction

Total «

0.9

.7

.4

.2

.2

.3

.5

.7

.8

.7

.7

.81.1

9.8

1.0

1.01.83.24.14.4

4.44.84.64.54.0

4.13.83.94.34.7

Equip-ment

0.6

.5

.3

.1

.1

.3

.4

.5

.6

.5

.5

.6

.87

.6

.7

.7

.91.82.62.9

2.72.92.72.82.3

2.52.22.32.82.9

Con-struc-tion

0.3

.2

.1(7)(7)

.1

.2

.2

.2

.2

.2

.33

.3

.3

.3

.91.41.51.5

1.61-81.91.71.6

1.61.61.61.61.7

Resi-dential

con-struc-tion(non-farm)

3.6

2.11.6.6.5.6

1.01.61.92.02.7

3.03.51 7.9.8

1.14.87.5

10.19.6

14.112.512.813.815.4

18.717.717.018.022.3

Otherpri-vatecon-

struc-tion8

0.5

.5

.4

.2

.1

.1

.1

.1

.2

.2

.2

.2

.21

(7)

.1

.4

.5

.91.1

1.31.41.31.41.7

1.81.92.22.52.6

Net change inbusiness inventories

Total

1.7

-.4-1.3-2.6-1.6-1.1

.91.02.2-.9

.4

2.24.51 8-.8

-1.0

-1.16.4-.54.7

-3.1

6.810.23.1.4

-1.6

5.84.72.0

-3.83.9

Non-farm6

1.8

-.1-1.6-2.6-1.4

.2

.42.11.7

-1.0.3

1.94.0

7-.6-.6

-.66.41.33.0

-2.2

6.09.12.11.1

-2.1

5.55.11.2

-4.93.1

Farm

-0.2

-.3.3

(7)-.3

-1.3

.5-1.1

.5

.1

.1

.3

.51 2

9— * 4

-.5(7)

-1.81.7

-.9

.81.2.9

-.6.5

.3-.4

.81.1.8


66.968.367.963.2

52.451.354.261.3

69.877.567.067.0

41.641.642.140.5

35.933.532.733.4

34.736.637.838.3

26.526.326.725.4

21.419.819.420.1

21.023.023.924.8

15.015.315.415.1

14.513.713.313.3

13.713.713.913.5

3.83.93.93.9

,4.04.34.44.7

4.54.74.94.6

2.32.32.32.3

2.42.82.83.1

2.93.03.12.7

1.61.61.61.6

1.61.61.61.6

1.61.71.81.9

17.116.917.017.1

17.116.918.019.9

21.923.122.621.5

2.12.22.22.3

2,-32.42.52.5

2.52.62.62.6

2.23.62.7-.6

-6.9-5.8-3.4

.8

6.110.4

-1.0.0

1.92.91.7

-1.7

-8.1-7.0-4.5-.1

5.49.8

-1.8-1.0

0.3.7.9

1.1

1.21.11.0.9

.7

.6

.81.0

1 Items for nonfarm producers' plant and equipment are not comparable with those shown in Table D-30principally because the latter exclude equipment and construction outlays charged to current expense andalso investment by nonprofit organizations and professional persons.

2 Total producers' durable equipment less farm machinery and equipment and farmers' purchases oftractors and business motor vehicles.

3 Industrial buildings, public utilities, gas- and oil-well drilling, warehouses, office and loft buildings,stores, restaurants, garages, miscellaneous nonresidential construction, and all other private construction.

4 Farm construction (residential and nonresidential) plus farm machinery and equipment and farmers'purchases of tractors and business motor vehicles. (See footnote 2.)

6 Includes religious, educational, social and recreational, and hospital and institutional.6 After inventory valuation adjustment.7 Less than $50 million.8 Preliminary estimates by Council of Economic Advisers.



165


TABLE D-9.—National income by type of income, 1929-59


Period

19291930193119321933 --- --193419351936 .19371938193919401941194219431944.1945 -.194619471948194919501951 --- --1952 .19531954195519561957195819596



1959: First quarterSecond quarterThird quarter.. _Fourth quarter 6

Totalna-

tionalin-

come !

87.875.759.742.540.249.057.164.973.667.672.881.6

104.7137.7170.3182.6181.2180.9198.2223.5217.7241.9279.3292.2305. 6301.8330.2350.8366.5366.2

7 398. 3

Com-pen-

sationof em-ploy-ees 2

51.146.839.731.129.534. 337.342.947.945.048.152.164.885.3

109.6121.3123.2117.7128.8141.0140.8154.2180.3195.0208.8207.6223.9242.5255.5256. 8277.4

Business and pro-fessional incomeand inventory

valuationadjustment

Total

8.87.45.63.43.24.65.46.57.16 87.38.4

10.913.916.818.019.021.319.922.422.723.526.026.927.427.830.432.132.732.434.5

In-come

ofunin-corpo-ratedenter-prises

8.66.75.03.13.74.65.46.67.16.67.58.5

11.514.317.018.119.123.021.422.822.224.626.326.727.627.830.632.633.032.434.5

In-ven-toryvalu-ationad-

just-ment

0.1.8.6.3

-.5-.1(5)-.1(5).2

2

(•)-.6-.4-.2-.1-.1

-1.7-1.5-.4

.5-1.1-.3

.2-.2(5)-.2-.5-.3(5)(5)

In-come

offarmpro-prie-tors3

6.04.13.21.92.42.45.04.05.64.34.34.66.5

10.011.411.511.815.315.517.812.914.016.315.313.312.711.811.611.814.211.8

Rent-al in-come

ofper-sons

5.44.83.82.72.01.71.71.82.12.62.72.93.54.55.15.45.66.26.57.38.39.09.4

10.210.510.910.710.911.511.812.0

Corporate profitsand inventory

valuationadjustment

Total

10.16.61.6

-2.0-2.0

1.12.95.06.24.35.79.1

14.519.723.823.018.417.323.630.828.235.741.037.737.333.743.142.041.736.7

747.0

Cor-porateprofitsbeforetaxes 4

9.63.3-.8

-3.0.2

1.73.15.76.23.36.49.3

17.020.924.623.319.022.629.533.026.440.642.236.738.334.144.944.743.337.1

7 48.0

In-ven-toryvalu-ationad-

just-ment

0.53.32.41.0

-2.1-.6-.2-.7f5)1.0-.7-.2

-2.5-1.2-.8-.3-.6

-5.3-5.9-2.2

1.9-5.0-1.2

1.0-1.0

o

-1.7-2.7-1.5-.4

7-1.0

Netin-

terest

6.46.05.85.45.04.94.84.74.74.64.64.54.54.33.73.33.23.13.84.24.85.56.37.18.29.1

10.411.713.314.315.6


364.0366.5371.1364.3355. 8358.9369.5380.4389.4403.9398.2

(8)

252. 3255. 5258.1256.0252. 5253.2258.5262.9269.9278.9279.3281.6

32.632.932.932.431.632.032.633.233.734.534.835.1

33.033.333.032.731.632.132.533.333.734.835.1

(8)

-0.4-.4-.1-.3

.0-.1

.1-.1

.0-.3-.3(8)

11.211.512.312.114.613.914.214.113.212.110.311.4

11.311.411.511.711.711.811.911.912.012.012.012.0

43.842.042.738.531.533.838.043.545.551.046.0(8)

46.243.544.039.432.033.638.344.646.552.646.4(8)

-2.4-1.5-1.3-.9-.4

.2-.3

-1.1g

-L6-.3(8)

12.713.213.513.813.914.114.414.715.115.415.816.1

1 National income is the total net income earned in production. It differs from gross national productmainly in that it excludes depreciation charges and other allowances for business and institutional con-sumption of durable capital goods, and indirect business taxes. See Table D-10.

2 Wages and salaries and supplements to wages and salaries (employer contributions for social insurance;employer contributions to private pension, health, and welfare funds; compensation for injuries; directors'fees; pay of the military reserve; and a few other minor items).

3 Excludes income resulting from net reductions of farm inventories and gives credit in computingincome to net additions to farm inventories during the period. Data for 1929-45 differ from those shown inTable D-65 because of revisions by the Department of Agriculture not yet incorporated into the nationalincome accounts.

4 See Table D-57 for corporate tax liability (Federal and State income and excess profits taxes) andcorporate profits after taxes.

8 Less than $50 million.6 Preliminary estimates by Council of Economic Advisers.7 Data for corporate profits and inventory valuation adjustment are approximations for the year as a whole;


s Not available.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

166


TABLE D-40.—Relation of gross national product and national income, 1929-59


Period

1929

19301931193219331934.. . ._ ._ .

19351936193719381939

19401941194219431944 . . _

19451946194719481949

195019511952 .19531954

195519561957195819593

1957:First quarterSecond quarter _ _Third quarterFourth quarter. .

1958:First quarterSecond quarter. _Third quarterFourth quarter _ _

1959:First quarterSecond quarter. _Third quarterFourth quarter 3_

Grossna-

;ionalprod-

uct

104.4

91.176.358.556.065.0

72 582 790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.5441.7478.8

Less: Capital con-sumption allowances

Total

8.6

8.58.27.67.27.1

7.27.57.77.87.8

8.19.0

10.210.912.0

12.510.713.015.517.3

19.122.024.026.528.8

32.034.436.937.940.2

Depre-ciationcharges

7.7

7.77.67.06.76.6

6.76.76.96.97.1

7.38.19.29.9

10.8

11.29.0

11.113.1*i16.518.820.923.125.2

27.930.533.034.736.8

Other i

0.9

.8

.6

.6

.5

.5

.6

.8

.8

.8

. 7

.81.01.01.01.

1.1.2.2.2.

2.3.3.3.3.6

4.03.93.93.23.4

Equals:Netna-

tionalprod-uct

95.8

82.668.150.948.857.9

65.375.283.077.483.3

92.5116.8149.0181.6199.4

201.0200.0221.3244.0240.8

265.5307.0323.0338.9334.3

365.5384.8405.6403.8438.6

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-prises

-0.1. i

(2)(2)(2)

.3

.4(2)

. 2

.4

.1

.2

.2

.8

. <

<•

(2).9

1.11.0

Less:

Indirect businesstax

Total

7.0

7.26.96.87.17.8

8.28.79.29.29.4

10.011.311.812.714.1

• 15.517.318.620.421.6

23.725.628.130.230.2

32.935,738.139.042.0

Fed-eral

1.2

1.0.9.9

1.62.2

2.22.32.42.22.3

2.63.64.04.96.2

7.17.97.98.18.2

9.09.5

10.511.210.1

11.011.612.211.912.6

Stateandlocal

5.8

6.16.05.85.45.6

6.06.46.86.97.0

7.47.77.77.88.0

8.49.4

10.812.313.5

14.716.117.619.020.1

21.824.125.927.229.4

Busi-ness

trans-fer

pay-ments

0.6

.5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

•\

!s.8

1.01.1.1.1.1.61.71.71.7

Sta-tisti-caldis-

crep-ancy

0.3

-1.0.8.8.9.7

-.21.1

-.2.5

1.2

.8

.4-.8

-1.72.8

4.52.13.

1.1.1.

1.-2.

-2.]<-2.7

Equals:Na-

tionalncome

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241. 9279.3292.2305.6301.8

330.2350.8366.5366.2

4 398. 3


437.7442.4447.8442. 3

431. C434.5444. C457.1

470.2484.5478.6482. C

36.236.737.337.5

37.537.638.038.5

39.339.940.541.2

(5)(5)C5)(5)

(5)(5)(5)(5)

(5)(5)(5)(5)

(5)(5)(5)(5)

(5)(5)(5)(5)

(5)(5)(5)(5)

401.5405.7410.5404.8

393.5396.9406. C418.6

430. S444.6438.1440.8

1.31.31.1.9

1.11.1l .Cl .C

.8

.7

.6

.6

37.338.138.438.4

38.338.939.139.9

40.741.742.343.2

12.112.512.312.0

11.812.011.712.1

12.212.412.713.0

25.225.726.226.4

26.526.927.427.9

28.529.329.730.2

1.71.71.71.7

1.71.71.71.7

1.71.71.71.7

-0.2.6.3

1.3

-1.2-1.5-3.3-2.4

.0-2.0-3.7(5)

364.0366.5371.1364.3

355.8358.9369.5380.4

389.4403.9398.2(5)

1 Accidental damage to fixed capital and capital outlays charged to current account.2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.4 Data for corporate profits and inventory valuation adjustment are approximations for the year as a whole;


5 Not available.NOTE.—Detail will not necessarily add to totals because of rounding.


533287 O—60 167


TABLE D-l 1.—Relation of national income and personal income, 1929-59


Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949 ..

1950 .. . .19511952 „19531954

19551956195719581959 i



1959: First quarterSecond quarterThird quarterFourth quarter L_.

Nationalincome

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241.9279.3292.2305.6301.8

330.2350.8366.5366.2

2398.3

Less:

Corpo-rate

profitsand in-

ven-toryvalu-ation

adjust-ment

10.1

6.61.6

-2.0-2.0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323.630.828.2

35.741.037.737.333.7

43.142.041.736.7

2 47.0

Contri-butions

forsocialinsur-ance

0.2

.3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.2

6.16.05.75.25.7

6.98.28.68.79.7

11.012.614.615.117.9

Excessof

wageac-

crualsoverdis-

burse-ments

0.2-.2

.1

-.1

Plus:

Gov-ern-

menttrans-

ferpay-

mentsto

persons

0.9

1.02.11.41.51.6

1.82.91.92.42.5

2.72.62. -62.53.1

5.610.911.110.511.6

14.311.612.012.915.0

16.017.220.024.425.1

Netinter-

estpaidby

gov-ern-ment

1.0

1.01.11.11.21.2

1.11.11.21.21.2

1.31.31.52.12.8

3.74.54.44.54.7

4.85.05.05.25.4

5.45.76.26.26.8

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.512.413.2

Busi-ness

trans-fer

pay-ments

0.6

.5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

.5

.5

.5

.5

.5

.6

.7

.7

.8

.81.01.2.4.3

.5

.6

.7

.71.7

Equals:

Per-sonalin-

come

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9350.6359.0380.1


364.0366.5371.1364.3

355.8358.9369.5380.4

389.4403.9398.2(3)

43.842.042.738.5

31.533.838.043.5

45.551.046.0(3)

14.414.514.814.6

14.814.815.315.5

17.517.918.118.2

0.6.6

—1.3

18.520.120.121.5

22.824.925.425.1

24.724.824.826.0

6.16.26.26.2

6.26.26.16.1

6.36.67.07.4

12.612.712.812.2

12.712.612.612.0

12.813.013.413.6

1.71.71.71.7

1.71.71.71.7

1.71.71.71.7

344.7350.7354.5352.8

352.2355.0363.4366.3

371.8381.1381.0386.6

1 Preliminary estimates by Council of Economic Advisers.2 Data for corporate profits and inventory valuation adjustment are approximations for the year as a whole;


3 Not available.



168


TABLE D-12.—Sources of personal income, 1929—59


Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

1945.1946194719481949

19501951195219531954

195519561957195819595 _ _ _

1957:First quarterSecond quarterThird quarter ._ _.Fourth quarter

1958:First quarterSecond quarterThird quarterFourth quarter

1959:First quarterSecond quarterThird quarterFourth quarter s _ _ _

Totalpersonalincome

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9350. 6359.0380.1

Laborincome

(wage andsalary

disburse-ments

and otherlabor

income)1

51.0

46.739.630.929.434.1

37.242.546.743.646.6

50.562.883.0

106.7118.5

119.4113.8125.2137.9137.4

150.2175.5190.2204.1202.5

218.0235.7247.7248.7267.8

Propinc

Farms

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.5

11.815.315.517.812.9

14.016.315.313.312.7

11.811.611.814.211.8

rietors'3me 2

Busi-ness andprofes-sional

8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.922.422.7

23.526.026.927.427.8

30.432.132.732.434.5

Rentalincome

ofpersons

5.4

4.83.82.72.01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.66.26.57.38.3

9.09.4

10.210.510.9

10.710.911.511.812.0

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.512.413.2

Per-sonal

interestincome

7.4

6.96.96.66.26.1

5.95.85.95.85.8

5.85.85.85.86.2

6.97.68.28.79.4

10.311.212.113.414.6

15.817.519.520.422.4

Trans-fer pay-ments

1.5

1.52.72.22.12.2

2.43.52.42.83.0

3.13.13.13.03.6

6.211.411.811.312.4

15.112.613.214.316.2

17.518.821.726.126.8

Less:Per-sonal

contri-butions

forsocialinsur-ance

0.1

.1

.2

.2

.2

.2

.2

.2

.6

.6

.6

.7

.81.21.82.2

2.32.02.12.22.2

2.93.43.83.94.6

5.25.86.77.08.3

Non-agricul-tural

personalincome*

77.7

70.860.946.943.649.8

53.963.267.062.867.1

72.688.0

111.5137.6151.6

156.8161.2172.8189.2192.1

211.3237.0254.3271.5273.8

295.0317.9335.2341.1364.4


344.7350.7354.5352.8

352.2355.0363.4366.3

371.8381.1381.0386.6

244.7247.8250.2248.1

243.9244.7251.6254.5

260.6269.3269.6271.8

11.211.512.312.1

14.613.914.214.1

13.212.110.311.4

32.632.932.932.4

31.632.032.633.2

33.734.534.835.1

11.311.411.511.7

11.711.811.911.9

12.012.012.012.0

12.612.712.812.2

12.712.612.612.0

12.813.013.413.6

18.819.419.820.0

20.220.320.520.8

21.322.022.723.5

20.221.821.823.2

24.426.627.126.8

26.426.526.527.7

6.76.76.86.7

6.96.97.17.1

8.18.38.48.4

329.9335.6338.7337.1

334.1337.4345.4348.2

354.6365.0366.9371.3

1 The total of wage and salary disbursements and other labor income differs from compensation of em-ployees in Table D-9 in that it excludes employer contributions for social insurance and excludes the excessof wage accruals over wage disbursements.2 Excludes income resulting from net reductions of inventories and gives credit in computing incometo net additions to inventories during the period.8 Data for 1929-45 differ from those in Table D-65 because of revisions by the Department of Agriculturenot yet incorporated into the national income accounts.

4 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.5 Preliminary estimates by Council of Economic Advisers.

NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

169


TABLE D-13.—Disposition of personal income, 7929—59

Period

1929

1930 -19311932 . _19331934

19351936193719381939 -- -- -

19401941 .- - -- .194219431944 --

19451946 -.19471948 .1949 „ .

1950 .19511952 _. _19531954

195519561957 _ -195819592

1957: First quarter. -- -Second quarterThird quarter _ . _ _.Fourth quarter

1958: First quarter _Second quarterThird quarterFourth quarter _

1959: First quarterSecond quarter - - -Third quarterFourth quarter 2

Personalincome

Less:Personaltaxes i

Equals:Dispos-

ablepersonalincome

Less:Personal

con-sumptionexpendi-

tures

Equals:Personalsaving

Billions of dollars

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256. 7273.1288.3289.8

310.2332.9350.6359.0380.1

2.6

2.51.91.51.51.6

1.92.32.92.92.4

2.63.36.0

17.818.9

20.918.721.521.118.7

20.829.234.435.832.9

35.740.042.742.645.5

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9307.9316. 5334. 6

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9284.8293.0311.4

4.2

3.42.5-.6-.6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.123.523.3


344.7350.7354.5352.8

352.2355. 0363.4366.3

371.8381.1381.0386.6

42.342.743.142.9

41.942.142.943.4

44.445.845.946.0

302.5308.0311.5309.9

310.3312.9320.4322.9

327.4335.3335.1340.6

279.8282.9288.2288.1

287.3290.9294.4299.1

303.9311. 2313.3317.0

22.625.123.321.8

22.922.026.023.7

23.524.121.923.6

Saving aspercentof dis-posablepersonalincome

(percent)

5.1

4.63.9

-1.2-1.3

.2

3.45.45.21.74.1

5.511.923.724.725.1

19.18.42.85.84.5

6.17.87.97.87.4

6.47.97.57.47.0

7.58.17.57.0

7.47.08.17.3

7.27.26.56.9

1 Includes also such items as fines, penalties, and donations.2 Preliminary estimates by Council of Economic Advisers.



170


TABIE D-14.— Total and per capita disposable personal income and personal consumptionexpenditures^ in current and 1959 prices, 1929-59

Period

1929.

19301931.1932 _19331934

193519361937 _ _19381939

19401941 .. _194219431944

1945- _194619471948-.1949

19501951 .195219531954

195519561957 -195819595.-

1957: First quarterSecond quarter. __Third quarterFourth quarter....


1959: First quarterSecond quarter. _ _Third quarterFourth quarter5 ..

Total disposablepersonal income

(billions ofdollars)

Currentprices

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150. 4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9307.9316.5334.6

1959prices l

145.8

136. 5131.3113.5110.4118.2

129.6145.8150.7142.8154.4

165.4189.4213.2222.1231.5

228.9226.8217.5228.6231.3

249.6256.5263.5276.0278.0

296.0310.3316.8319.7334.6

Per capita dis-posable personalincome (dollars)

Currentprices

682

604514390364411

458516551506537

576697871976

1,061

1,0751,1361,1801,2911,272

1,3691,4741,5201,5821,582

1,6601,7421,7991,8181,891

1959prices l

1,196

1,1081,058

909879934

1,0181,1371,1701,1001,178

,252,420,581,624,674

,636,605,509,559,551

,645,662,678,729,712

1,7911,8451,8511,8361,891

Total personalconsumptionexpenditures

(billions ofdollars)

Currentprices

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9284.8293.0311.4

1959prices 2

138.6

130.3126.2114.8112.1117.9

125.2138.0142.9140.4148.3

156.3166.7162.9167.2173.1

185.2207.8211.4215.4220.9

234.5236.4242.5254.2257.5

277.0286.0293.1295.9311.4

Per capita per-sonal consump-tion expendi-tures (dollars)

Currentprices

648

576494395369410

442488522497516

544614665735793

870,040,148,216,215

,286,359,400,457,465

,554,605,664,683,760

1959prices 3

1,137

1,0581,017

919892932

9831,0771,1081,0801,132

,183,250,208,223,251

,324,470,467,469,481

1,5461,5311,5441,5921,585

1,6761,7011,7121,7001,760


302.5308.0311.5309.9

310.3312.9320.4322.9

327.4335.3335.1340.6

314.4318.2319.2316.2

314.1315.7324.0325.5

329.4336.3334.4338.2

1,7781,8031,8151,798

1,7931,8011,8371,843

1,8611,8991,8891,912

1,8481,8631,8601,835

1,8151,8171,8571,858

1,8721,9051,8851,899

279.8282.9288.2288.1

287.3290.9294.4299.1

303.9311.2313.3317.0

290.8292.2295.4294.0

290.9293.6297.7301.4

305.6312.1312.7314.9

1,6441,6561,6791,671

1,6601,6751,6881,707

1,7271,7621,7661,779

1,7091,7101,7211,706

1,6811,6901,7071,720

1,7371,7671,7631,768

Popu-lation(thou-

sands)4

121, 875

123, 188124, 149124, 949125, 690126, 485

127, 362128, 181128,961129,969131, 028

132, 122133, 402134,860136, 739138, 397

139, 928141, 389144, 126146, 631149, 188

151, 683154, 360157, 028159, 636162, 417

165, 270168, 176171, 198174, 054176, 947

170, 148170, 840171,606172, 382

173,038173, 692174, 450175, 242

175, 926176, 599177, 358178, 140

1 Dollar estimates in current prices divided by the implicit deflator for personal consumption expendi-tures on a 1959 base.

2 See Table D-2 for explanation.3 Total expenditures in 1959 prices diyided by population.4 Population of the United States excluding Alaska and Hawaii; includes armed forces abroad. An-

nual data are for July 1; quarterly data are for middle of period.8 Preliminary estimates by Council of Economic Advisers.


171


TABLE D-15.—Financial saving by individuals, 1939-59l


Period

1939

19401941194219431944

1945 .194619471948 . _ _1949

19501951195219531954

1955 _1956195719581959 10

1957:First quarterSecond quarter. .Third quarter...Fourth quarter. .

1958:First quarterSecond quarter..Third quarter. _ _Fourth quarter..

1959:First quarterSecond quarter. .Third quarter...Fourth quarter 10

Total

4.24

4.2310.5129.2838.6941.39

37.3314.066.472.762.21

.8211.1113.1410.889.47

7.1414.1017.6816.1716.00

5.423.355.083.83

5.531.345.783.52

5.222.404.803.60

Cur-rencyand

bankde-

posits

2.99

2.874.77

10.9316.1817.53

18.9810.572.00

-1.83-1.36

3.505.907.024.735.37

3.294.685. 10

10.265.60

-.10.72

1.882.61

.82

.635.393.42

.28

.352.432.60

Sav-ings

shares2

0.08

.26

.42

.27

.57

.85

1.101.231.281.301.61

1.672.283.343.974.79

5.235.375.216.516.90

1.091.68.65

1.79

1.421.92.98

2.20

1.482.231.142.00

Securities

Total

-0.83

-.432.64

10.3314.1415.71

9.93-1.43

2.423.122.39

.90

.543.513.44.37

6.415.206.56.59

10.60

2.481.152.25.69

1.01-.11

-1.411.09

2.532.183.712.20

U.S.sav-ings

bonds

0.66

.862.757.98

11.1411.80

6.85.96

2.011.601.46

.25-.47

.09

.20

.60

.26-.09

-1.91-.52

-1.80

-.58-.46-.49-.38

-.01-.19-.16-.16

-.24-.43-. 55-.60

Othergov-ern-

ment3

-0.87

-.84.38

2.343.254.59

4.23-2.40-.28

.40

.20

-.07-.421.262.01-.91

3.923.305.29

-1.8011.00

2.18.51

1.94.65

-.23-.53

-1.98.93

2.522.323.952.20

Cor-porateand

other

-0.62

-.44-.50

.01-.26-.68

-1.16(9).69

1.12.73

.711.432.161.23.68

2.232.003.182.921.40

.881.10.79.41

1.25.62.73.32

.24

.29

.31

.60

Pri-vate

insur-ancere-

serves4

1.72

1.852.142.492.853.21

3.463.423.643.753.71

3.924.064.845.005.21

5.545.545.125.235.30

1.041.121.691.27

1.201.131.301.60

1.371.311.271.30

Non-in-

suredpen-sion

funds

0.05

.05

.08

.12

.20

.60

.93

.30

.30

.40

.60

.901.351.511.841.93

2.082.412.682.783.40

.84

.66

.52

.66

.90

.48

.58

.82

.94

.88

.79

.80

Gov-ern-

mentinsur-anceandpen-sionre-

serves5

1.30

1.301.862.553.924.96

5.143.553.493.572.34

1.094.244.403.242.63

3.103.573.19

.671.90

.731.50.86.11

-.14.75.25

-.20

-.011.37.68

-.20

Less: Increase indebt

Mort-gage

debts

0.50

.85

.82

.10-.38-.05

.223.604.624.724.12

7.296.586.517.299.01

11.8310.287.769.32

12.50

1.842.062.131.72

1.482.102.782.95

2.413.723.443.00

Con-sumerdebt?

0.81

1.01.69

-2.96-1.03

.14

.482.322.812.412.64

3.64.99

4.363.65.96

6.093.142.49.10

5.60

-.841.35.64

1.34

-1.81.30.05

1.56

-.512.161.792.10

Secur-ities

loans8

-0.23

-.20-.11

.27

.581.38

1.48-2.34-.76

.43

.32

.22-.30

.60

.40

.86

.60-.75-.07

.45-.40

-.34.05

-.02.24

.011.05

-1.52.91

-.52.06

-.02(9)

1 Individuals' saving, in addition to personal holdings, covers saving of unincorporated business, trustfunds, and nonprofit institutions in the forms specified.

2 Includes shares in savings and loan associations and shares and deposits in credit unions.3 Includes U.S. Government issues (except savings bonds), nonguaranteed Federal agency securities, and

securities of State and local governments.4 Includes insured pension reserves.5 Includes Social Security funds, State and local retirement systems, etc.6 Mortgage debt to institutions on one- to four-family nonfarm dwellings.7 Consumer debt owed to corporations, largely attributable to purchases of automobiles and other dur-

able consumer goods, although including some debt arising from purchases of consumption goods. Policyloans on Government and private life insurance have been deducted from those items of saving.

8 Change in bank loans made for the purpose of purchasing or carrying securities.9 Less than $5 million.

10 Preliminary.

NOTE.—In addition to the concept of saving shown above, there are other concepts of individuals'saving, with varying degrees of coverage, currently in use. The personal saving estimates of the Depart-ment of Commerce are derived as the difference between personal income and expenditures. Conceptually,Commerce saving includes the following items not included in Securities and Exchange Commission sav-ing: Housing, farm and unincorporated business investment in inventories and plant and equipment, netof depreciation, and increase in debt. Government insurance is excluded from the Commerce saving se-ries. For a reconciliation of the two series, see Securities and Exchange Commission Statistical Bulletin,July 1959, and Survey of Current Business, July 1959.

The Federal Reserve Board's flow-of-funds system of accounts includes capital investments as well asfinancial components of saving and covers saving of Federal, State and local governments, businesses, finan-cial institutions and consumers. While the Federal Reserve Board's estimates of consumer saving in fi-nancial form are similar to the Securities and Exchange Commission estimates of individuals' saving, thereare some statistical and conceptual differences in the two sets of data.

Revisions for 1947-59 in the consumer credit statistics of the Board of Governors of the Federal ReserveSystem have riot yet been incorporated into these estimates.

Detail will not necessarily add to totals because of rounding.

Source: Securities and Exchange Commission.

172


TABLE D-16.—Sources and uses of gross saving, 1929—59


Period

1929

19301931193219331934

1935 .193619371938-.1939

19401941 . .1942..19431944

19451946.19471948 , .1949..

1950-.19511952.19531954 . -

19551956 - -19571958.19593

1957:First quarterSecond quarter. .Third quarterFourth quarter - _

1958:First quarterSecond quarter..Third quarter. _ .Fourth quarter .-

1959:First quarterSecond quarter _ _Third quarterFourth quarter3.

Gross private saving and government surplus ordeficit on income and product transactions

Total

16.7

11.94.9.3.6

2.6

6.47.2

12.17.39.0

13.918.810.55.12.3

4.530.636.845.933.0

48.555.348.347.047.6

62.471.369.656.9

^70.7

Private saving

Total

15.7

12.27.72.01.95.0

8.410.111.58.9

11.2

14.622.641.949.354.2

44.326.523.637.636.1

40.349.252.254.154.4

59.666.168.267.5

<73.9

Per-sonalsaving

4.2

3.42.5-.6-.6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.123.523.3

Grossbusi-ness

saving

11.5

8.85.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.045.144.0

450.6

Government surplusor deficit (-)

Total

1.0

-.3-2.8-1.7-1.4-2.4

-2.0-3.0

.6-1.6-2.1

-.7-3.8

-31.4-44.2-51.9

-39.74.1

13.38.2

-3.1

8.26.1

-3.97 -j

-e'7

2.95.21.4

-10.74-3.2

Fed-eral

1.2

.3-2.1-1.5-1.3-2.9

-2.6-3.5-.2

-2.0-2.2

-1.4-5.1

-33.2-46.7-54.6

-42.32.2

12.28.0

-2.5

9.26.4

-3.9-7.4-5.8

3.85.72.4

-9.14-2.0

Stateandlocal

-0.1

-.'7-.2(2)

.5

.6

.5

.7

.4

.1

.71.31.82.52.7

2.61.91.1.3

-.6

-1.0-.3

.1

.3-.9

-1.0-.5

-1.0-1.6

4-1.0

Gross investment

Total

17.0

11.05.71.11.53.3

6.28.3

11.87.8

10.2

14.719.29.73.45.0

9.032.740.445.033.5

47.856.649.748.348.5

63.468.870.154.868.1

Grossprivatedomes-tic in-vest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.654.970.3

Net for-eign in-vest-

ment1

0.8

.7

.2

.2

.2

.4

-.1-.1

.11.1.9

1.51.1

-.2-2.2-2.1

-1.44.68.91.9.5

-2.2.2

-.2-2.0-.4

-.41.53.5i

-2^2

Statis-ticaldis-

crep-ancy

0.3

-1.0.8.8.9.7

-.21.1

-.2. 5

1.2

.8

.4-.8

-1.72.8

4.52.13.5-.8

.5

— . 71.21.41.3.9

1.0-2.4

.5-2.1

4-2.7


71.770.971.564.1

54.252.757.862.4

67.476.369.1(5)

67.669.869.166.4

64.265.069.371.9

72.976.472.5(5)

22.625.123.321.8

22.922.026.023.7

23.524.121.923.6

44.944.845.844.6

41.343.043.348.1

49.452.350.6(5)

4.11.12.4

-2.3

-10.0-12.3-11.5-9.5

-5.5-.1

-3.4(5)

4.82.23.0-.6

-8.0-10.9-10.1-7.8

-3.9.4

-2.4(5)

-0.7-1.1-.6

-1.7

-1.9-1.4-1.4-1.7

-1.6-.5

-1.0(5)

71.571.571.865.4

53.151.254.660.0

67.474.365.565.5

66.968.367.963.2

52.451.354.261.3

69.877.567.067.0

4.63.33.92.1

.7-.1

.4-1.3

-2.4-3.2-1.5-1.5

-0.2.6.3

1.3

-1.2— 1.5-3.3-2.4

.0-2.0-3.7(5)

1 Net exports of goods and services less foreign net transfers by Government. For 1929-45, net foreigninvestment and net exports of goods and services have been equated, since foreign net transfers by Govern-ment were negligible during that period.

2 Less than $50 million.3 Preliminary estimates by Council of Economic Advisers.4 Data for corporate profits and inventory valuation adjustment are approximations for the year as a

whole; they do not derive from, nor imply, specific estimates for the quarters. All other data incorporat-ing or derived from these figures are correspondingly approximate.

5 Not available.NOTE.—Detail will not necessarily add to totals because of rounding.



EMPLOYMENT AND WAGES

TABLE D-17.—Noninstitutional population and the labor force, 7929-59

Period

Old definitions: a1929 -

1930 .193119321933 .1934

1935193619371938 ...1939

194019411942 .19431944

19451946194719481949 . -

19501951195219531954 ..

19551956 -1957

New definitions: 2

1947 ._19481949

19501951195219531954

1955 .--195619571958 ...1959

Nonin-stitu-tionalpopu-

lation i

Totallaborforce

(includ-ing

armedforces) i

Armedforces *

Civilian labor force

Total

Employment 2

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-

ment2

Thousands of persons 14 years of age and over

(3)

(3)(3)(3)(3)(3)

(3)(3)(3)(3)(3)

100, 380101, 520102, 610103, 660104, 630

105, 520106, 520107, 608108, 632109, 773

110, 929112, 075113, 270115, 094116,219

117, 388118, 734120, 445

107, 608108, 632109, 773

110, 929112, 075113, 270115,094116, 219

117, 388118, 734120, 445121, 950123, 366

49, 440

50, 08050, 68051, 25051, 84052,490

53, 14053, 74054, 32054, 95055, 600

56, 18057, 53060, 38064, 56066, 040

65, 29060, 97061, 75862, 89863, 721

64, 74965, 98366, 56067, 36267, 818

68, 89670, 38770, 761

61, 75862, 89863, 721

64, 74965, 98366,56067, 36267, 818

68, 89670, 38770, 74471,28471, 946

260

260260250250260

270300320340370

5401,6203,9709,020

11, 410

11, 4303,4501,5901,4561,616

1,6503,0973,5943,5473,350

3,0482,8572,797

1,5901,4561,616

1,6503,0973,5943,5473,350

3,0482,8572,7972,6372,552

49,180

49, 82050. 42051,00051, 59052, 230

52, 87053, 44054,00054, 61055, 230

55, 64055, 91056, 41055, 54054, 630

53, 86057, 52060, 16861, 44262, 105

63,09962,88462,96663, 81564, 468

65, 84767, 53067, 964

60,16861, 44262, 105

63,09962, 88462, 96663, 81564,468

65, 84867, 53067, 94668,64769, 394

47, 630

45, 48042, 40038, 94038, 76040, 890

42, 26044, 41046,30044, 22045, 750

47, 52050, 35053, 75054, 47053, 960

52, 82055, 25058, 02759, 37858, 710

59, 95761, 00561, 29362, 21361, 238

63, 19364, 97965, 272

57, 81259, 11758, 423

59, 74860, 78461, 03561, 94560,890

62, 94464,70865, Oil63.966G5, 581

10, 450

10, 34010, 29010, 17010, 0909,900

10, 11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,2667,9738,026

7,5077,0546,8056,5626,504

6,7306,5856,229

8,2567,9608,017

7,4977,0486,7926,5556,495

6,7186,5726,2225,8445,836

37, 180

35, 14032, 11028, 77028, 67030, 990

32, 15034, 41036,48034, 53036, 140

37, 98041, 25044, 50045, 39045, 010

44, 24046, 93049, 76151, 40550, 684

52, 45053, 95154, 48855, 65154, 734

56, 46458, 39459, 043

49, 55751, 15650, 406

52, 25153, 73654, 24355,39054, 395

56, 22558, 13558, 78958, 12259, 745

1,550

4,3408,020

12, 06012, 83011, 340

10, 6109,0307,700

10, 3909,480

8,1205,5602,6601,070

670

1,0402,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,5512,693

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,9364,6813,813

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unemploy-ment as per-cent of civil-

ian laborforce

Percent

(3)

(3)(3)(3)(3)(3)

(3)(3)(3)(3)(3)

56.056.758.862.363.1

61.957.257.457.958.0

58.458.958.858.558.4

58. 759.358.7

57.457.958.0

58.458.958.858.558.4

58.759.358.758.558.3

3.2

8.715.923.624.921.7

20.116.914.319.017.2

14.69.94.71.91.2

1.93.93.63.45.5

5.03.02.72.55.0

4.03.84.0

3.93.85.9

5.33.33.12.95.6

4.44.24.36.85.5


174


TABLE D-17.—Noninstitutional population and the labor force, 1929-59—Continued

Period

New definitions: *

1957:January _ --FebruaryMarchAprilMayJune

July. _.AugustSeptemberOctober..NovemberDecember

1958:JanuaryFebruaryMarchApril .MayJune

JulyAugustSeptemberOctoberNovemberDecember..

1959:JanuaryFebruaryMarchAprilMay.. .June

JulyAugustSeptemberOctoberNovemberDecember

Nonin-stitu-tionalpopu-lation 1

Totallaborforce

(includ-ing

armedforces) i

Armedforces *

Civilian labor force

Total

Employment 2

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-

ment2


119, 614119, 745119,899120, 057120, 199120,383

120, 579120, 713120, 842120,983121, 109121, 221

121, 325121, 432121, 555121, 656121, 776121, 900

121, 993122, 092122, 219122, 361122, 486122,609

122, 724122, 832122, 945123, 059123, 180123, 296

123, 422123, 549123, 659123, 785123, 908124, 034

68,63869,12869, 56269, 77170, 71472, 661

73,05171, 83371,04471,29970, 79070, 458

69, 37969, 80470, 15870, 68171,60373, 049

73, 10472, 70371, 37571, 74371, 11270, 701

70, 02770. 06270, 76871, 21071, 95573, 862

73, 87573,20472, 10972, 62971, 83971, 808

2,8172,8172,8162,8202,8212,819

2,8232,8392,8192,7862,7292,688

2,6472,6442,6482,6542,6382,631

2,6312,6362,6352,6322,6272,620

2,5972,5912,5792,5712,5502,538

2,5372,5372,5322,5262,5292,532

65, 82166, 31166, 74666, 95167, 89369,842

70,22868,99468,22568, 51368, 06167, 770

66, 73267,16067, 51068, 02768, 96570, 418

70, 47370, 06768,74069, 11168, 48568,081

67, 43067, 47168, 18968, 63969, 40571, 324

71, 33870, 66769, 57770, 10369, 31069, 276

62, 57863,19063, 86564, 26165, 17866, 504

67, 22166, 38565,67466,00564, 87364,396

62, 23861, 98862, 31162,90764, 06164, 981

65, 17965, 36764, 62965, 30664,65363,973

62, 70662, 72263,82865, 01266, 01667, 342

67,59467, 24166, 34766,83165,64065, 699

4,9355,1955,4345,7556,6597,534

7,7726,8236,5186,8375,8175,385

4,9984,8305,0725,5586,2726,900

6,7186,6216,1916,4045,6954,871

4, 6934,6925,2035,8486,4087,231

6,8256,3576,2426,1245,6014,811

57,64357, 99658, 43158, 50658, 51958, 970

59, 44959, 56259, 15659, 16859, 05759,012

57, 24057, 15857, 23957, 34957, 78958, 081

58, 46158, 74658, 43858, 90258, 95859, 102

58,01358,03058,62559, 16359,60860,111

60,76960,88460,10560, 70760,04060,888

3,2443,1212,8822,6902,7153,337

3,0072,6092,5522,5083,1883,374

4,4945,1735,1985,1204,9045,437

5,2944,6994,1113,8053,8334,108

4,7244,7494,3623,6273,3893,982

3,7443,4263,2303,2723,6703,577

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unemploy-ment as per-cent of civil-

ian laborforce

Unad-justed

Season-ally ad-justed

Percent

57.457.758.058.158.860.4

60.659.558.858.958.558.1

57.257.557.758.158.859.9

59.959.558.458.658.157.7

57.157.057.657.958.459.9

59.959.358.358.758.057.9

4.94.74.34.04.04.8

4.33.83.73.74.75.0

6.77.77.77.57.17.7

7.56.76.05.55.66.0

7.07.06.45.34.95.6

5.24.84.64.75.35.2

4.*4.13.94-04.14.2

4.24.34.54.74.95.0

5.86.77.07.57.26.8

7.37.67.27.15.96.1

6.06.15.85.34.94.9

5.15.55.66.05.65.2

1 Data for 1940-52 revised to include about 150,000 members of the armed forces who were outside theUnited States in 1940 and who were, therefore, not enumerated in the 1940 Census and were excluded fromthe 1940-52 estimates.

2 See Note.' Not available.NOTE.—Civilian labor force data beginning with May 1956 are based on a 330-area sample. For January

1954-April 1956 they are based on a 230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smallersample; and for 1929-39 on sources other than direct enumeration.

Effective January 19.57, persons on layoff with definite instructions to return to work within 30 daysof layoff and persons waiting to start new wage and salary jobs within the following 30 days are classifiedas unemployed. Such persons had previously been classified as employed (with a job but not at work).The combined total of the groups changing classification has averaged about 200,000 to 300,000 a month inrecent years. The small number of persons in school during the survey week and waiting to start newjobs are classified as not in the labor force instead of employed, as formerly. Persons waiting to open newbusinesses or start new farms within 30 days continue to be classified as employed.

Beginning July 1955, monthly data are for the calendar week ending nearest the 15th of the month; previ-ously, for week containing the 8th. Annual data are averages of monthly figures.

For the years 1940-52, estimating procedures made "se of 1940 Census data; for subsequent years, 1950Census data were used. For the effects of this changv* on the historical comparability of the data, seeAnnual Report m the Labor Force, 1954, Series P-50, No. 59, April 1955, p. 12.

Detail will not necessarily add to totals because of rou iding.Source: Department of Labor.

175


TABLE D-18.—Employment and unemployment, by age and sex, 1942—59

[Thousands of persons 14 years of age and over]

Period

Old definitions:!

194219431944

19451946194719481949

195019511952 -. -19531954

19551956

New definitions:1

195719581959.

1958:JanuaryFebruaryMarch--AprilMay...June _

JulyAugustSeptemberOctober..November _ _December

1959:JanuaryFebruary .MarchAprilMayJune


Totalcivil-ian

laborforce

56, 41055, 54054, 630

53,86057, 52060,16861, 44262, 105

63, 09962, 88462, 96663, 81564, 468

65, 84767, 530

67, 94668,64769, 394

66, 73267, 16067, 51068, 02768, 96570, 418

70, 47370, 06768, 74069, 11168, 48568, 081

67, 43067, 47168, 18968, 63969, 40571, 324

71, 33870, 66769, 57770, 10369, 31069, 276

Employed

Totalem-

ployed

53, 75054, 47053,960

52, 82055,25058, 02759, 37858, 710

59, 95761, 00561,29362, 21361, 238

63, 19364, 979

65, Oil63, 96665, 581

62, 23861, 98862,31162, 90764,06164, 981

65, 17965, 36764, 62965, 30664, 65363, 973

62, 70662, 72263, 82865, 01266, 01667, 342

67, 59467, 24166, 34766, 83165, 64065, 699

14-19years

5,7706,3506,050

5,4804,5504,7174,8414, 512

4,5644,6144, 5304,5144,285

4,4464,764

4,7194,5114,789

3,8053,8443,8784,0164,3615,308

5,7565,7974,4164,4684,2384,252

3,9324,0004,0624,2684,5235,782

6,3076,1024,7934,7314,4374,538

20-44 years

Male

20,79017, 55016, 380

15,83021, 17023, 40923, 84223, 483

23,83323, 59423, 37223, 71523, 178

23, 76824, 051

23, 99223. 37423, 952

23, 02222, 73822, 81823, 01823, 26623, 513

23, 56723, 76923, 73023, 82323, 76323, 467

23, 17723, 08323, 46023, 95024, 09424, 328

24, 47124, 45124, 24124, 27623, 91223, 978

Fe-male

9,40011,05011, 280

11, 1409,8709,828

10, 09810, 087

10, 37610, 83310, 91710, 95310, 730

11,00011, 271

11, 24711, 02811.080

10,89010, 77910, 87710, 94211, 13110, 983

10, 88710, 89111, 12511,45011,28611,096

10, 75210, 81310, 98911,05811,28711.099

10, 86810, 83911, 18811,56411,28811, 229

45 yearsand over

Male

14,16015,16015, 480

15,52015, 28015, 47415, 67715, 491

15, 66616, 14416, 34516, 72516, 649

16, 87817,294

17, 24717, 03617,316

16, 83716, 78416, 74616, 88817, 13717, 146

17, 11917, 05817, 23617, 35117, 17216, 964

16, 76616, 78216, 99117, 28317, 45217, 534

17, 53917, 49617, 56417, 57917, 40417, 398

Fe-male

3,6304,3604,770

4,8504,3804,6004,9245,138

5,5175,8196,1306,3066,395

7,1017,598

7,8038,0158,443

7,6827,8447,9948,0398,1678,031

7,8517,8528,1228,2148,1958,194

8,0788,0438,3248,4548,6608,602

8,4078,3548,5658,6848,5998,553

Unemployed

Totalunem-ployed

2,6601,070

670

1,0402,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,6813,813

4,4945,1735,1985,1204,9045,437

5,2944,6994,1113,8053,8334,108

4,7244,7494,3623,6273,3893,982

3,7443,4263,2303,2723,6703,577

14-19years

510290200

190290425415595

543356362312515

471510

574757727

578640603673776

1,360

1,200754695601625587

607586606648690

1,312

1,0077£l598605624660

20-44 years

Male

670180140

3301,200

920757

1,329

1,119515495512

1,158

854784

9361,7151,233

1,8392,0952,1471,9591,8121,836

1,8481,6331,3651,2651,2581,529

1,7611,8311,6041,1451,0091,064

1,0231,0031,032

9391,2121,173

Fe-male

520260170

270280303353559

552419344300617

502491

566850708

779932894937915906

886907838752745707

897851785655634662

675674646696697627

45 yearsand over

Male

770240110

200410396414719

697402345363684

606530

605965789

9201,1031,1711,114

992916

930968825807874968

1,0891,095

974787679596

669646629692808797

Fe-male

19010050

509099

127194

232190127116256

222239

254392356

377400382436410420

428436387381330316

369386393392375347

370312324341329320

1 See Note, Table D-17 for explanation of differences between the old and new definitions.

NOTE.—Data are not available prior to 1942 for all the age/sex groups above.See Note, Table D-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.

Source: Department of Labor.

176


TABLE D—19.—Employed persons not at work, by reason for not working, and special groupsof unemployed persons, 1946-59

[Thousands of persons 14 years of age and over]

Period

New definitions: 5

1946194719481949 . ...

19501951195219531954

1955 -- _ . _1956195719581959

1958: JanuaryFebruaryMarch_AprilMay-June

JulyAugustSeptember. .OctoberNovember..December. .

1959: JanuaryFebruary- _ _MarchAprilMayJune

JulyAugustSeptember _ _OctoberNovember--December. ._

Employed persons not at work,by reason for not working

Total

2,1032,2602,4902,243

2,4402,4592,5552,5292,688

2,6832,8883,0173,0763,161

2,2972,8212,1492,3161,9023,305

7,3155,8932,7312.2241,9711,991

2,0862,2122,1012,0172,0073,436

7,0856,8123,5752,6442,0641,893

Badweather

(6)211197110

151111689673

103109139182115

3427082711354065

14527292044

353

322367171903128

792839557499

Indus-trial

dispute

(6)959779

8557

1647353

61764559

160

222754415045

315858

2063385

364141686673

19642639938212864

Vacation

662834

1,0441,044

1,1371,0731,1301,1711,361

1,2681,3461,4471,4791,494

330353324742584

1,867

5,7814,5171,512

788602353

290316332437661

2,028

5,1414,7781,907

975622442

Illness

819847844719

718782775827776

835901962882907

1,1451,2021,026

938836751

745736737821850801

9521,0081,0831,021

918774

880828841847871867

Allother

reasons '

(6)273308291

349436418362425

416456425474484

458531474460391577

612555395389442399

486480473401331533

789752389384369421

Special groups of un-employed persons 2

Tempo-rary

layoff3

97123141185

92117142167221

133124150166128

187227201207160156

176154112129153129

13914411299

104104

14018913984

144144

New wageand salary

job *

5892

121101

116103117101127

117147110120134

61686488

188328

130175135705677

9096

136129198405

159192157102133

73

1 Includes persons waiting to open new businesses or start new farms within 30 days.2 Under the old definitions of employment and unemployment, these groups were included in the

"employed but not at work" category.s Persons on layoff with definite instructions to return to work within 30 days of the layoff.4 Persons scheduled to start new wage and salary jobs within 30 days. Under the old definitions, the

"new job or business" group included these persons as well as persons waiting to open new businesses orstart new farms within 30 days (see "all other" category in this table) and persons in school during thesurvey week and waiting to start new jobs (these are now classified as "not in the labor force").

«See Note, Table D-17 for explanation.• Not available.

NOTE.—See Note, Table D-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.


177


TABLE D—20.—Unemployed persons, by duration oj unemployment, 1946—59

Period

Old definitions: »

1946194719481949

1950195119521953 -1954

19551956

New definitions: *

19571958-1959


1958' First quarterSecond quarterThird quarter _ .Fourth quarter


Total un-employed

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over 26weeks


2,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,6813,813

3,0822,9142,7233, 023

4,9555,1544,7013,915

4,6123,6663,4673,506

( ),041,087,517

,307,003925910

1,303

1, 1381,214

1,4851,8331,659

1,3821,5591,4691,530

1,9022,0241,7851,620

1,6091,6871,6261,712

(2)704669

1,195

1.055574517482

1,115

815805

8901,3971,114

1,108738781935

1,9001,3771,322

986

1,542831

1,0621,021

(2)234193427

425166148132495

367301

321785469

371359245309

7991,126

683533

684526311357

141164116256

3571378479

317

336232

239667571

223258228248

354626911776

777623468417

Averagedurationof unem-ployment(weeks)

(3)9.8.

10.

12.9.8.8.

11.

13.11.,

10.13.14.

10.10.9.

10.,

11.13.15.15.

15. <15.13.12.

1 See Note, Table D-17 for explanation of differences between the old and new definitions.2 For duration of less than 6 months, data are available only for under 3 months (1,568,000) and 3 to 6

months (564,000).3 Not available.NOTE.—See Note, Table D-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.Source: Department of Labor.

!78


TABLE D-21.—Unemployment insurance programs, selected data, 1939 and 1946—59

Period

1939

1946 .1947194819491950. _19511952195319541955195619571958195912-.. .- .. _ _1958: January

February.MarchAprilMayJuneJuly .AugustSeptemberOctoberNovemberDecember

1959: JanuaryFebruary .MarchAprilMay _JuneJuly .AugustSeptember. . . .OctoberNovember _ _ _ _ _ _ _December 12

Initial claims 1

State,veteran,

andFederal

employeepro-

grams 2

188

341280282375239211215222310236234276382288505461435457355369367302273276328429417329266257217231277250221282368330

Statepro-

grams 3

Insured unem-ployment 4

All pro-grams 8

Statepro-

grams 3 6

Exhaus-tions,Statepro-

grams 7

Weekly average (thousands)

188

189187210323236208215217303228229271373278497454427451349360361298269274315418403316255247209221267241213272357320

2,8031,8041,4652,4741,599

9961,0641,0582,0391,3881,3121,5602,7581,8563,0653,3753,5053,5273,1862,8472,7172,3742,0621,8631,9572,3072,7392,5962,2821,9361,5931.4141,4771,4511,3701,4791,8531,970

1,086

1,2941,008

9991,9731,497

9651,019

9881,8571,2691,2251,4662,5371,6802,8773,1633,2763,3022,9842,6672,5112,2031,9061,7221,7812,1112,4892,3682,077,768,464,298,333,291,203,309,677

1,800

61

3824203736161815342520235033323646535460626154494446484544413530272525232321

Stateinsuredunem-ploy-mentas per-cent ofcoveredemploy-

ment(per-

cent)3 «

5.1

4.33.13.06.24.62.82.92.85.23.43.13.56.14.46.97.67.97.97.16.36.05.24.54.14.35.16.36.05.34.53.83.43.53.43.13.44.44.7

Benefits paidunder State pro-

grams 8

Total(millions

of dol-lars)9

429.3

1, 094. 9775.1789.9

1, 736. 01, 373. 1

840.4998.2962.2

2, 026. 91, 379. 21, 409. 31,,766. 4

11 3,574.7132,259.2

313.0320.2370.2403.8363.6325.0305.6255.4231.1210.3174.5234.7274.7251.0250.6213. 7162.0142.9142.5133.4141.8136.9168.3200.0

Averageweeklycheck

(dollars)10

10.66

18.5017.8319.0320.4820.7621.0922.7923.5824.9325.0827.0628.2130.5830.3730.0930.4830.5330.8830.8030.8030.6230.5030.6630.4530.4630.4130.5030.5230.3830.0229.4529.2329.1029.7630.4930.8132.2131.50

1 Most of these are instances of new unemployment.2 Data on veterans relate to those under the following programs: Servicemen's Readjustment Act which

became effective in October 1944 and expired for most veterans in July 1949; Veterans' ReadjustmentAssistance Act of 1952, effective October 15,1952; and the unemployment compensation for ex-servicemenprogram which became effective October 27. 1958.

3 Data include State programs and the program for Federal employees for the period January 1955 throughDecember 1958. Data for all other periods are for State programs only.

4 Represents the number of unemployed workers covered by unemployment insurance programs whohave completed at least one week of unemployment. Excludes Territories prior to inclusion of data forAlaska and Hawaii beginning January 1959.

5 State, veteran, ex-servicemen, Federal employee, and railroad programs.6 State unemployment insurance programs during the period shown excluded from coverage agricultural

workers, domestic servants, workers in nonprofit organizations, unpaid family workers, the self-employed,and (in most States) workers in very small firms.

7 Represents the number of individuals who received payment for the final week of compensable unem-ployment in a benefit year. Workers who have exhausted benefit rights do not necessarily remain unem-ployed; some find employment, and others withdraw from the labor force. Includes final payments underthe Federal employee program for the period January 1955 through June 1959.

8 Includes benefits paid under the Federal employee program for the period January 1955 through June1959.

9 Monthly totals are gross amounts: annual figures are adjusted for voided benefit checks.10 For total unemployment only.11 Includes $81.5 million paid out under State programs which temporarily extended duration of benefit

pay ments.12 Estimated for December 1959.13 Includes $54.5 million paid out under State programs which temporarily extended duration of benefit

payments.


179


TABLE D-22.—Number of wage and salary workers in nonagr{cultural establishments, 1929-59 l

[Thousands of employees]

Period

1929

19301931193219331934 .. _ -

1935193619371938 - -1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956 _ _ .. -195719581959 4

1957: JanuaryFebruary. _ _MarchAprilMayJune..- - _ _

JulyAugustSeptember..OctoberNovember--December,.

Totalwageand

salarywork-

ers

31. 041

29, 14326, 38323, 37723, 46625, 699

26, 79228, S0230, 71828, 90230,311

32, 05836, 22039, 77942, 10641, 534

40, 03741, 28743, 46244, 44843, 315

44, 73847, 34748, 30349, 68148, 431

50, 05651, 76652, 16250, 54351, 952

Manufacturing

Total

10, 534

9, 4018,0216,7977,2588,346

8,9079, 653

10, 6069, 253

10, 078

10, 78012,97415,05117,38117,111

15, 30214, 46115,29015, 32114, 178

14, 96716, 10416. 33417, 23815, 995

16, 56316, 90316, 78215, 46816, 156

Du-rablegoods

(3)

(3)

8(3)(3)

(3)(3)(3)(3)

4,683

5, 3376,9458,804

11,07710, 858

9,0797, 7398,3728, 3127,473

8,0859,0809,340

10, 1059,122

9, 5499,8359,8218,7439,280

Non-dura-ble

goods

(3)

(3)(3)(3)(3)(3)

(s)(3)(3)(3)

5,394

5, 4436,0286,2476, 3046,?53

6,2226, 7226,9187,0106,705

6,8827,0246,9947, 1336,873

7,0147,0686,9616, 7256,876

Min-ing

1,078

1,000864722735874

888937

1,006882845

916947983917883

826852943982918

889916885852777

777807809721675

Con-tractcon-

struc-tion

1,497

1,3721,214

970809862

91?1,1451,1121,0551,150

1,2941,7902,1701,5671,094

1, 1321.6611,9822,1692, 165

2, 3332,6032, 6342,6222,593

2, 7592,9292,8082,6482,764

Trans-porta-tionand

publicutili-ties

3,907

3, 6753,2432,8042,6592,736

2,7712,9563, 1142,8402,912

3, 0133,2483, 4333,6193,798

3,8724, 0234,1224,1413, 949

3,9774,1664, 1854,2214,009

4, 0624,1614,1513,9033,903

Seasonally adjusted

52, 19452, 25452. 20752, 24352, 34052, 415

52, 46452, 45752, 22452, 01551,75851,516

17, 03016, 97816, 94916,94716, 93016, 909

16,87616, 82616, 67816, 60416, 45516, 252

10,0179,9919, 9529.9409,9289,921

9,8939,8639,7269,6819, 5629,393

7,0136,9876,9977,0077,0026,988

6,9836, 9636, 9526, 9236, 8936,859

808807803812814823

828820814802789784

2,7982,8312, 8592, 8552, 8912,899

2,8472, 8052,7822,7632,7102,679

4,1814,1614,1644, 1574, 1584,159

4,1634,1794,1704,1414,1044,070

Whole-saleand

retailtrade 2

6,401

6,0645, 5314,9074,9995, 552

5, 6926,0766, 5436,453

2 6, 612

6,9407,4167, 3337,1897,260

7,5228,6029,1969,5199,513

9, 64510,01210, 28110, 52710.. 520

10, 84611,22111,30211,14111,379

11,27511,30611,25811,26511,29811,327

11,36811,40211,34911,31511,29011,237

Fi-nance,insur-ance,andreal

estate

1,431

1,3981, 3331,2701,2251,247

1,2621,3131,3551,3471,399

1,4361,4801,4691, 4351,409

1,4281,6191,6721.7411, 765

1,8241,8921,9672,0382,122

2,2192,3082,3482,3742,425

Serv-ice

andmiscel-lane-ous 2

3,127

3,0842,9132,6822,6142,784

2,8833, 0603.2333, 196

2 3, 321

3, 4773, 7053,8573, 9193,934

4,0114,4744, 7834,9254,972

5, 0775,2645, 41 15,5385,664

5,9166,1606,3366,3956,524

Gov-ern-

ment(Fed-eral,State,and

local)

3, 066

3,1493, 2643,2253,1673,298

3,4773,6623, 7493,8763,995

4,2024,6605, 4836,0806,043

5,9445,5955. 4745, 6505,856

6,0266, 3896,6096, 0456,751

6,9147,2777,6267,8938,126

2,3212,3302,3292, 3262,3352,342

2, 3492, 3592,3662,3732,3722,365

6,2686,3066,2796,2846,3066,347

6,3956,3726,3806,3436,3676,382

7,5137,5357, 5667, 5977,6087,609

7,6387,6947, 6857,6747, 6717,747


180


TABLE D-22.—Number of wage and salary workers in nonagr{cultural establishments, 1929-59 *—Continued

[Thousands of employees]

Period

1958: JanuaryFebruaryMarchApril. ..MayJune

JulyAugustSeptember..OctoberNovember. _December.-

1959: JanuaryFebruary _ _ _M archAprilMayJune

JulyAugustSeptember..OctoberNovember4.December *_

Totalwageand

salarywork-

ers

Manufacturing

TotalDu-

rablegoods

Non-dura-

blegoods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionand

publicutili-ties

Whole-saleand

retailtrade 2

Fi-nance,insur-ance,andreal

estate

Serv-iceand

miscel-lane-ous 2

Gov-ern-

ment(Fed-eral,State,andlocal)

Seasonally adjusted

51, 22350, 57550, 21950, 05450, 14750, 315

50, 41150, 57050, 78050, 58250, 87750, 844

51, 08651, 19451, 45651,88752, 12552, 407

52, 55852, 02352, 15452, 00252, 19952, 485

15, 96515, 64815, 38915, 24315, 20215, 275

15,31215, 33015, 52915, 35815, 69315, 701

15, 76415,81916, 00616, 18216, 37216, 527

16, 58016, 03716, 14116, 02216, 13916, 350

9,1558,8958,7178,5668,4988,556

8,5968,6058,8018,6258,9378,956

9,0079,0499,1929,3199,4629,573

9,6359,0949,2149,1299,2359,463

6,8106,7536,6726,6776,7046,719

6,7166,7256,7286,7336,7566,745

6,7576,7706,8146,8636,9106,954

6,9456,9436,9276,8936,9046,887

766747733723718713

709701707708708709

704693688701708709

714633617621655661

2,6522,4552,5732,6242,6982,698

2,6932,7112,6982,6982,6902,550

2, 650 •2,6262,7192,8292,7872, 799

2,8002,8142,7762,7622,7882,777

4,0453,9903,9303,8903,8773,888

3,8773,8673,8583,8873,8753,859

3,8943,8803,8853,8863,9173,928

3,9203,8933,8993,9003,8993,913

11,30511,23511,11611, 05011,08711, 105

11,12111, 17511,15111, 15411,11911, 143

11,21611,27911, 26311,33311,36311, 425

11,46511, 52911,46411, 47811,45011,430

2,3682,3672,3602,3562,3702,367

2,3632,3772,3922,3922,3862, 385

2,3872,3952,3982,4032,4132,418

2,4262,4372,4522,4532,4522, 455

6,3686,3676,3306,3526,3606,392

6,4336,4206,4406,3996,4266,448

6,4436,4626,4416,4796,4866,525

6,5706,5496,5846,5496,5866, 611

7,7547,7667,7887,8167,8357,877

7,9037,9898,0057,9867,9808,049

8,0288,0408,0568,0748,0798,076

8,0838,1318,2218,2178,2308,288

1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of the pay period ending nearest the 15th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagriculturaJ employment of the civilian labor force (Table D-17) which include proprietors,self-employed persons, domestic servants, and unpaid family workers, which count persons as employedwhen they are not at work because of industrial disputes; bad weather, etc.; and which are based on asample survey of households, whereas the estimates in this table are based on reports from employingestablishments.

2 Beginning with 1939, data are not strictly comparable with data shown for earlier years because of theshift of the automotive repair service industry from the trade to the service division.

3 Not available.4 Preliminary.



181


TABLE D-23.—Average weekly hours of work in selected industries, 1929—59

Period

1929193019311932193319341935193619371938193919401941 ..1942194319441945.1946194719481949195019511952195319541955195619571958.1959 fl

1958: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1959: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctober...November 6 _ _December 8 _ _ _

Manufacturing

Total

44.242.140.538.338.134.636.639.238.635.637.738.140.642.944.945.243.440.440.440.139.240.540.740.740.539.740.740.439.839.240.338.738.438.638.338.739.239.239.639.939.839.940.239.940.040.240.340.540.740.240.540.340.339.940.5

Du-rablegoods

(3)(3)(3)32.634.833.937.341.040.035.038.039.342.145.146.646.644.140.240.640.539.541.241.641.541.340.241.441.140.339.540.738.938.639.038.839.139.639.439.840.240. 140.340.840.440.340.840.941.141.440.540.840.840.940.140.9

Non-du-

rablegoods

(3)(3)(3)41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.139.638.839.739.539.639.539.039.839.539.138.839.738.338.138.137.738.138.739.039.439.539.439.439.639.339.439.539.539.739.839.840.139.839.539.639.8

Bitumi-nouscoal

mining

38.433. 528.327.229.527.026.428.827.923.527.128.131.132.936.643.442.341.640.738.032.635.035.234.134.432.637.637.836.633.936.034.033.131.730.031.135.232.435.335.435.835.338.136.335.635.235.236.738.832.536.735.237.935.9(3)

Build-ingcon-

struc-tion

(3)(3)

8(3)28.930.132.833.432.132.633.134.836.438.439.639.038.137.6

<37.336.736.337.238.137.036.236.236.436.135.735.735.233.035.235.536.336.236.336.736.536.835.434.635.034.035.036.136.436.836.336.935.836.034.8(3)

Class Irail-

roads 1

(3)(3)(3)(3)(3)(3)

(3)(3)(3)(3)43.744.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.641.841.641.540.141.441.241.342.541.242.242.640.742.641.642.441.542.141.342.842.640.741.841.8(3)(3)

Tele-phone 2

(3)

(3)(3)(3)(3)(3)

(3)(3)38.838.939.139.540.140.541.942.3

*41. 739.437.439.238.538.939.138.538.738.939.639.539.038.439.238.038.237.837.737.838.238.538.639.039.039.738.638.338.938.438.438.839.039.439.240.639.940.8(3)

Whole-sale

trade

(3)(3)(3)(3)(3)(3)41.342.642.8

* 42. 241.741.241.041.342.242.942.741.541.040.940.740.740.740.640.540.440.640.440.240. 140.340.139.839.939.640.040.140.340.240.340.340.140.440.240.040.240.140.340.540.640.540.540.540.4(3)

Retailtrade

(excepteatingand

drink-ing

places)

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)42.742.542.141.140.340.440.340.740.340.340.440.540.239.939.239.139.038.638.138. 138.137.837.837.837.837.838.238.738.738.037.937.738.538.137.937.937.937.938.338.838.638.137.737.5(3)

Laun-dries

(3)(3)(3)(3)(3)39.441.042.742.641.641.841.842.142.242.942.942.842.942.641.941.541.241.141.140.540.140.340.339.739.239.639.038.639.039.239.639.839.739.339.339.438.839.239.339.039.439.940.440.139.539.639.839.839.3

(3)

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarizedin the M-300 report by the ICC and relate to all employees who received pay during the month, exceptexecutives, officials, and staff assistants (ICC Group I). Beginning September 1949, data reflect a reduc-tion in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainlyto employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory em-ployees only.' Not available.4 Data beginning with January of year noted are not comparable with those for earlier periods.• Nine-month average, April through December, because of new series started in April 1945.8 Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod ending nearest the 15th of the month.

The annual figures for 1959 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on employment.



TABLE D- 24.—Average gross hourly earnings in selected industries, 1929—59

Period

192919301931L9321933193419351936193719381939

194019411942 ..19431944

1945194619471948 ..1949

1950195119521953 .1954

195519561957195819597

1958: JanuaryFebruaryMarchAprilMayJune. _JulyAugustSeptemberOctoberNovemberDecember

1959: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember 7 _ _ _December "> . . _

Manufacturing

Total

$0. 566.552.515.446.442.532

.550

.556

.624

.627

.633

.661

.729

.853

.9611.019

1.0231.0861.2371.3501.4011.4651.591.671.771.81

1.881.982.072.132.22

2.112.102.112.112.122.12

2.132.132.142.142.172.192.192.202.222.232.232.242.232.192.222.212.232.26

Dura-ble

goods

(4)(4)(4)

$0. 497.472.556

.577

.586

.674

.686

.698

.724

.808

.947

.059

.117

.111

.156

.292

.410

.469

.537

.67

.771.871.92

2.012.102.202.282.382.242.242.252.252.262.272.282.292.302.292.342.362.352.362.382.392.402.402.392.352.372.362.382.42

Non-dura-ble

goods

(4)(4)(4)

$0.420.427.515

.530

.529

.577

.584

.582

.602

.640

.723

.803

.861

.9041.0151.1711.2781.325

1.3781.481.541.611.66

1.711.801.881.942.011.921.921.931.941.941.94

1.941.931.951.951.961.971.981.982.002.002.002.002.012.002.032.022.032.04

Bitu-minous

coalmining

$0. 681.684.647.520.501.673.745.794.856.878.886

.883

.993

.059

.139

.186

.240

.401

.636

.898

.941

2.0102.212.292.482.482.562.813.023.023.243.043.043.043.023.003.023.023.003.013.013.043.043.163.173.193.263.273.263.233.293.293.263.29

(4)

Build-ingcon-

struc-tion

(4)

(4)(4)(4)(4)

$0. 795.815.824.903.908.932.958

1. 0101.1481.2521.3191.3791.4781.681

51.8481.9352.0312.192.312.482.602.662.802.963.103.21

3.073.083.063.063.063.06

3.093.093.133.133.143.193.193.183.173.173.173.173.203.233.263.273.28

(4)

Class Irail-

roads ]

(4)(4)(4)(4)(4)(4)(4)(4)(4)(4)

$0. 730.733.743.837.852.948

.9551.087.186.301.427.572.73.83.88.93

1.962.122.262.442.54

2.382.442.402.392.432.45

2.432.452.452.432.562.522.542.582.532.522.542.532.522.542.542.54

(4)(4)

Tele-phone2

(4)(4)(4)(4)(4)(4)(4)(4)

$0. 774.816.822.827.820.843.870.911

«.962.124.197.248.345.398.49.59

1.681.761.821.861.952.052.172.012.012.022.032.042.052.062.072.082.092.092.102.112.122.132.152.172.182.192.192.202.222.21

(4)

Whole-sale

trade

(4)(4)(4)(4)(4)(4)

$0. 648.667.698

«.700.715.739.793.860.933.985.029.150.268.359.414.483.58.67.77.83

1.902.012.102.172.242.132.152.152.152.162.182.192.182.202.182.202.192.202.202.222.232.242.252.262.262.272.262.27

(4)

Retailtrade

(excepteatingand

drinkingplaces)

(4)(4)(4)(4)(4)(4)(4)(4)(4)(4)

$0. 542.553.580.626.679.731.783.893

1.0091.0881.137.176.26.32.40.45.50.57.64.70.76.68.68.67

1.681.691.701.711.711.711.711.711.68.74.74.74.75.76.77.77.77.78.78.77(4)

Laun-dries

(4)(4)(4)(4)(4)

$0. 378.376.378.395.414.422.429.444.482.538.605.648.704.767.817.843.861.92.94.98

1.001.011.051.091.131.171.121.121.121.131.131.141.141.141.141.141.141.141.151.151.161.161.171.171.171.171.181.181.18

(4)

Agri-cul-ture 3

$0. 241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.804

.657

.728

.795

.865

"."ns

.796

"".806"(~4)"

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarized inthe M-300 report by the ICC and relate to all employees who received pay during the month, except execu-tives, officials, and staff assistants (ICC group I). Beginning September 1949, data reflect a wage rateincrease and reduction in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainly toemployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

3 Weighted average of all farm wage rates on a per hour basis.4 Not available.6 Data beginning with January of year noted are not comparable with those for earlier periods.6 Nine-month average, April through December, because of new series started in April 1945.? Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for all nonsupervisory employees in other industries (except as noted). Data are for payperiod ending nearest the 15th of the month.

The annual figures for 1959 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on man-hours.

Sources: Department of Labor and Department of Agriculture.

533287 < l83


TABLE D-25.—Average gross weekly earnings in selected industries, 1929-59

Period

19291930193119321933 _19341935193619371938193919401941194219431944

1945 - - -194619471948 --194919501951 ... .195219531954195519561957 -.19581959 6

1958: JanuaryFebruaryMarchAprilMayJune . - _ _JulyAugustSeptemberOctoberNovemberDecember

1959: JanuaryFebruaryMarchAprilMayJuneJuly . .AugustSeptemberOctoberNovember fl._December 6 - _ _

M anuf actur ing

Total

$25. 0323.2520.8717.0516.7318.4020.1321.7824.0522.3023.8625.2029.5836.6543.1446.0844.3943.8249.9754.1454.9259.3364.7167.9771.6971.8676.5279.9982.3983.5089.4781.6680.6481.4580.8182.0483.1083.5084.3585.3985.1786.5888.0487.3888.0089.2489.8790.3291.1789.6588.7089.4789.0688.9891. 53

Dura-ble

goods

$27. 2224.7721.2816.2116.4318.8721.5224.0426.9124.0126. 5028.4434.0442.7349.3052.0749.0546.4952.4657.1158.0363.3269.4773.4677.2377.1883.2186.3188.6690.0696.8787.1486.4687.7587.3088.3789.8989.8391.1492.4691.8394.3096.2994.9495.1197.1097.7598.6499.3696.8095.8896.7096.5295.4498.98

Non-durablegoods

$22.9321.8420.5017.5716.8918.0519.1119.9421. 5321.0521.7822.2724.9229.1334.1237.1238.2941.1446.9650.6151.4154.7158.4660.9863.6064.7468.0671.1073.5175. 2779.8073.5473.1573.5373.1473.9175.0875.6676.0477.0376.8377.2278.0177.8178.0179.0079.0079.4079.608P. 0080.2080.7979.7980.3981.19

Bitumi-nouscoal

mining

$25. 7222.2117.6913.9114.4718.1019.5822.7123.8420.8023.8824.7130.8635.0241.6251.2752.2558.0366.5972.1263.2870.3577.7978.0985. 3180.8596.26

106. 22110. 53102. 38116. 64103. 36100.6296.3790.6093.30

106. 3097.85

105. 90106. 55107. 76107. 31115.82114. 71112. 85112.29114.75120. 01126. 49104. 98120. 74115.81123. 55118.11

(3)

Build-ingcon-

struc-tion

(3)(3)(3)(3)(3)

$22. 9724.5127.0130.1429.1930.3931.7035. 1441.8048.1352.1853.7356.2463.30

4 68. 8570.9573.7381.4788.0191.7694.1296.29

101.92106. 86110. 67114. 60108. 06101.64107. 71108. 63111.08110. 77112. 17113.40114. 25115.18111.16110. 37111.65108. 12110. 95114. 44115. 39116. 66116. 16119. 19116. 71117. 72114. 14

(3)

Class Irail-

roads *

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)

$31. 9032.4734.0339.3441.4946.3646.3250.0055.0360.1162.3664.1470.9374.3076.3378.7482.1288.4094.24

101. 50106. 1799.01

101. 2696.2498.95

100. 12101. 19103. 28100. 94103. 39103. 52104. 19107. 35105. 66109. 39105.00106. 09104. 90108. 28107. 35103. 38106. 17106. 17

(3)(3)

Tele-phone 2

(3)(3)(3)(3)(3)(3)(3)(3)

$30. 0331.7432.1432.6732.8834.1436.4538.54

s 40. 1244.2944. 7748.9251.7854.3858.2661.2265. 0268.4672.0773.4776. 0578.7285.0676.3876.7876.3676. 5377.1178.3179.3179.9081.1281.5182.9781.0680.8182.4781.7982.5684.2085. 0286.2985. 8589.3288.5890.17

(3)

Whole-sale

trade

(3)(3)(3)

$27. 7226.1126.3726.7628.4129.87

* 29. 5429.8230.4532.5135. 5239.3742.2643.9447.7351.9955.5857. 5560.3664.3167.8071.6973.9377.1481.2084.4287.0290.2785.4185.5785.7985.1486.4087.4288.2687.6488.6687. 8588.2288.4888.4488.0089.2489.4290.2791.1391.7691.5391.9491.5391.71

(3)

Retailtrade

(excepteatingand

drink-ing

places)

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)

$23. 1423.5024.4225.7327.3629. 5331. 5536.3540.6643.8545.9347.6350.6552.6754.8856.7058.5060.6062.4864.7767. 0663.5063.5063.1363. 5063.8864.9466.1866.1864.9864.8164. 4764.6866.2965.9565.9566.3366.7067.7968.6868.3267.8267.1166.38

(3)

Laun-dries

(3)(3)(3)(3)(3)

$14. 8915. 4216.1416.8317.2217.6417.9318.6920.3423.0825.9527.7330.2032.7134.2334.9835.4737.8138.6339.6940.1040.7042.3243.2744.3046.3343.6843.2343.6844.3044.7545.3745.2644.8044.8044.9244.2344.6945.2044.8545.7046.2847.2746.9246.2246.3346.9646.9646.37(3)

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarized inthe M-300 report by the ICC and relate to all emoloyees who received pay during the month, except execu-tives, officials, and staff assistants (ICC group I). Beginning September 1949, data reflect a wage rateincrease and reduction in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainly toemployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

3 Not available.4 Data beginning with January of year noted are not comparable with those for earlier periods.5 Nine-month average, April through December, because of new series started in April 1945.8 Preliminary.NOTE.—Data are for production workers in manufacturing and mining, construction workers in building

construction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod en-ling nearest the 15th of the month.

The annual figures for 1959 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on man-hours.


184


TABLE D—26.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-59

Period

1939

194019411942 ..19431944 .._ .

19451946194719481949

19501951195219531954

19551956195719581959 3 _ . -

1958: JanuaryFebruary _ .MarchApril. _MayJune _

July.August . ._SeptemberOctoberNovemberDecember.

1959: JanuaryFebruaryMarchAprilMay_June

JulyAugustSeptemberOctoberNovember 3

December 3

All manufacturingindustries

Averageweeklyhours

Gross

37.7

38.140.642.944.945.2

43.440.440.440.139.2

40.540.740.740.539.7

40.740.439.839.240.3

38.738.438.638.338.739.2

39.239.639.939.839.940.2

39.940.040.240.340.540.7

40.240.540.340.339.940.5

Ex-clud-ing

over-time

0)

0)0)0)0)0)

0)0)0)0)0)

0)0)0)0)0)

0)37.637.437.237.6

37.036.837.036.837.037.3

37.337.337.537.437.337.6

37.637.637.637.737.837.8

37.537.637.337.537.337.8

Averagehourly

earnings

Gross

$0. 633

.661

.729

.853

.9611.019

1.0231.0861.237.350.401

.465

.59

.67

.77

.81

.88

.982.072.132.22

2.112.102.112.112.122.12

2.132.132.142.142.172.19

2. 192.202.222.232.232.24

2.232.192.222.212.232.26

Ex-clud-ing

over-time

0)

0)$0. 702

.805

.894

.947

z.9631.0511.1981.3101.367

.415

.53

.61

.71

.76

1.821.912.012.082.15

2.062.062.072.072.072.07

2.082.072.082.082.112.12

2.132.132.152. 162.162.16

2.162.122.142.142.160)

Durable goods manufac-turing industries

Averageweeklyhours

Gross

38.0

39.342.145.146.646.6

44.140.240.640.539.5

41.241.641.541.340.2

41.441.140.339.540.7

38.938.639.038.839.139.6

39.439.840.240.140.340.8

40.440.340.840.941.141.4

40.540.840.840.940.140.9

Ex-clud-ing

over-time

0)

0)0)0)0)0)

0)

80)0)

0)0)0)0)0)

0)38.137.937.638.0

37.337.137.537.437.637.9

37.637.737.937.737.738.1

38.137.938.238.338.338.4

37.837.837.838.137.638.1

Averagehourly

earnings

Gross

$0. 698

.724

.808

.9471.0591.117

1.1111.1561.2921.4101.469

1. 5371.671.771.871.92

2.012.102.202.282.38

2.242.242.252.252.262.27

2.282.292.302.292.342.36

2.352.362.382.392.402.40

2.392.352.372.362.382.42

Ex-clud-ing

over-time

0)

0)$0. 770

.881

.9761.029

2 .042.122.250.366.434

.480

.601.701.801.86

1.932.032.142.232.30

2.202.202.212.212.212.22

2.232.232.242.232.262.28

2.292.292.312.312.322.32

2.312.272.282.282.310)

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

37.4

37.038.940.342.543.1

42.340.540.139.638.8

39.739.539.639.539.0

39.839.539.138.839.7

38.338.138.137.738.138.7

39.039.439.539.439.439.6

39.339.439.539.539.739.8

39.840.139.839.539.639.8

Ex-clud-ing

over-time

0)

0)0)0)0)0)

80)0)0)

880)

0)37.036.736.637.0

36.436.236.236.036.236.6

36.837.036.936.936.937.0

36.937.036.937.037.137.1

37.037.236.836.736.937.1

Averagehourly

earnings

Gross

$0. 582

.602

.640

.723

.803

.861

.904

.015

.171

.278

.325

.378

.481.541.611.66

1.711.801.881.942.01

1.921.921.931.94.94.94

.94

.93

.95

.95

.96

.97

1.981.982.002.002.002.00

2.012.002.032.022.032.04

Ex-clud-ing

over-time

0)

0)$0. 625

.698

.763

.814

2.858.981

1.1331.2411.292

1.3371.431.491.561.61

1.661.751.831.891.94

1.881.871.881.891.891.89

.89

.88

.89

.89

.90

.91

.92

.92

.93

.94

.94

.94

.95

.93

.951.951.960)

1 Not available.2 Eleven-month average; August 1945 excluded because of VJ Day holiday period.3 Preliminary.

NOTE.—Data relate to production workers and are for pay period ending nearest the 15th of themonth.

The annual figures for 1959 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on employment(in the case of hours) and man-hours (in the case of earnings).


185


TABLE D-27.—Average weekly earnings, gross and spendable-, in manufacturing industries,in current and 1959 prices, 1939-59

Period

1939

194019411942 ., _. . _19431944

19451946194719481949

1950195119.5219531954

195519561957195819593

1958: JanuaryFebruaryMarchApril . _.May . __ .June

July _AugustSeptember - -OctoberNovember ._December

1959: January... __FebruaryMarch __AprilMayJune

JulvAugust _SeptemberOctober _ . _ _November3

December3

Average gross weeklyearnings

Currentprices

$23. 86

25.2029.5836.6543.1446.08

44.3943.8249.9754.1454.92

59.3364.7167.9771.6971.86

76.5279.9982.3983.5089.47

81.6680.6481.4580.8182.0483.10

83.5084.3585.3985.1786.5888.04

87.3888.0089.2489.8790.3291.17

89. 6588.7089.4789.0688.9891.53

1959prices l

$50. 02

52.3958.5765.4572.6376.29

71. 8365.4065.1565.5467.14

71.8372.5474.5378.0177.94

83.1785.7385.3884.1789.47

83.1681.9582.2781.4682.6283.60

83.9284.8685.9185.6887.0288.57

87.9188.5389.7890.3290.6891.17

89.3888.5288.9488.3588.19

(4)

Average spendable weekly earnings 2

Worker with nodependents

Currentprices

$23. 58

24.6928. 0531.7736.0138.29

36.9737.7242.7647.4348.09

51.0954.0455.6658.5459.55

63.1565.8667.5768.4672.81

66.9866.1766.8166.3067.2968.14

68.4669.1469.9769.8070.9372.10

71.2071.6972.6573.1473.4974.15

72.9772.2372.8372.5172.4574.43

1959prices 1

$49. 43

51.3355.5456.7360.6263.39

•59. 8256.3055.7557.4258.79

61. 8560.5861.0363.7064.59

68.6470.5970.0269.0172.81

68.2167.2567.4866.8367.7668.55

68.8069.5670.3970.2271.2972.54

71.6372.1273.0973.5173.7974.15

72.7572.0972.4071.9371.80

(4)

Worker with threedependents

Currentprices

$23. 62

24.9529.2836.2841.3944.06

42.7443.2048.2453.1753.83

57.2161.2863. 6266.5866.78

70.4573.2274.9775.8880.34

74.3773.5474.2073.6774.6875.55

75.8876.5877.4377.2578.4179.60

78.7079.1980.1880.6881.0381.71

80.5079.7580.3680.0379.9782.00

1959prices *

$49. 52

51.8757.9864.7969.6872.95

69.1664.4862.8964.3765.81

69.2668.7069.7672.4572.43

76.5878.4877.6976.4980.34

75.7374.7474.9574.2675.2176.01

76. 2677.0477.9077.7278.8080.08

79.1879.6780.6681.0981.3681.71

80.2679.5979.8879.3979.26

(«)

1 Estimates in current prices divided by the consumer price index on a 1959 base (using 11-month average).2 Average gross weekly earnings less social security and income taxes.* Preliminary.4 Not available.

NOTE.—Data relate to production workers and are for pay period ending nearest the 15th of the month.The annual figures for 1959 are simple arithmetic averages of the monthly figures shown and are not

strictly comparable with the averages for earlier years, which have been weighted by data on man-hours.


186


TABLE D-28.—Labor turnover rates in manufacturing industries, 1930-59

[Rates per 100 employees]

Period

1930 3.11931 . 3.11932 3.31933 5.41934 4.7

1935 4.21936 4.41937 3.61938 3.81939 4.1

1940 _._ 4.41941 5.41942.. 7.61943 7.51944 6.1

1945 6.31946 6.71947 5.11948... 4.41949 3.5

1950 4.41951 4.41952 4.41953 3.91954 3.0

1955 3.71956 ..._ 3.41957 2.91958 3.01959 « 3.5

1958: January 2.5February 2.2March 2.4April 2.5May— -. 3.0June 3.8

July 3.3August 3.9September 4.0October 3.4November 2. 8December 2.4

1959: January 3.3February 3.3March. ... __ 3.6April 3.5May 3.6June 4.4

July 3.3August 3.9September 3.9October 3.1November » 2.8

Accession rates

Total i New hires

3.43.33.01.6

2.42.31.81.32.1

1.0.9.9.9

1.01.6

1.51.61.91.71.31.1

1.51.71.92.02.23.0

2.22.52.62.01.4

Separation rates

Total 2

5.04.04.43.84.1

3.63.44.44.13.1

3.43.96.57.36.8

8.36.14.84.64.3

3.54.44.14.33.5

3.33.53.63.63.4

5.03.94.24.13.62.9

3.23.53.53.22.82.8

3.12.62.83.02.92.8

3.33.74.34.74.1

Quits

1.6.9.7

.91.11.3

2.03.85.25.1

5.14.33.42.81.5

1.92.42.32.31.1

1.61.61.4.9

1.3

.7

.7

.7

1.21.51.1

.9

.81.01.11.31.3

1.31.82.21.41.0

Layoffs

3.02.93.52.73.0

2.52.13.03.42.2

2.21.31.1

2.31.21.01.32.4

1.11.21.11.31.9

1.21.51.72.31.6

3.82.93.23.02.41.8

2.01.91.61.71.61.8

1.71.31.31.31.11.0

1.41.41.52.82.7

1 Includes rehires and other accessions, not published separately.2 Includes discharges and miscellaneous separations, not published separately.3 Not available.4 January-November average.5 Preliminary.


187


PRODUCTION AND BUSINESS ACTIVITY

TABLE D-29.—Industrial production indexes, 1947-59

1947-49=100

Period

194719481949

19501951 . _195219531954

19551956195719581959 3- _

1958' JanuaryFebruaryMarchAprilMayJune


1959: JanuaryFebruaryM archAprilM ayJune

JulyAugust -_SeptemberOctober _NovemberDecember 3...

Totalindus-trial

produc-tion1

9910398

113123127138130

146151152141159

Industry

Manufacturing

Total

9910397

113123127139129

145150150139158

Dur-able

10010595

116130138156138

159162162141165

Non-durable

98102100

111115117122122

134139141141155

Min-ing

10110694

105115114117113

125132132120125

Utili-ties

91101108

123140152166178

199218233244268

Market

Final products

Total

9910299

112121130138132

144150152145162

Con-sumer

98101101

115114116124123

136139141140155

Equip-ment

10010594

102142170182161

172188189165188

Mate-rials

10010496

114124125137128

147151151138157

Seasonally adjusted

139136133132135139

142144145146150151

152155157162166166

163157157155156165

137133131130133137

140142143144148149

150153156161165166

163156156154154164

141135133129133138

141144144145154155

156160165171177179

171159157155156174

136135133135137140

143144145146147147

148150151155156156

159158159156157157

123120113112112116

120123125125127129

128126126129131129

123120119120125129

238238238237238241

243246250251250253

259259261262266271

271269273272277283

143140138138140143

145147146147153153

154155157161164164

166166165165162166

137135133133136139

142142140142148148

150150151156157157

159158158158154159

168162160158158160

163167168171174174

175176179184190193

196194194194191194

136131129127130135

138141145144148149

150154158163167167

160148149146152164


188


TABLE D-29.—Industrial production indexes, 1947-59—Continued

1957=100

Period

194719481949

1950-.1951195219531954

19651956 .195719581959 3

1958: JanuaryFebruaryMarchAprilMayJune

JulyAugust. _ - -September.. .:OctoberNovemberDecember

1959: JanuaryFebruaryMarchAprilMay .June

JulyAugust .SeptemberOctoberNovemberDecember 3-._

Totalindus-trial

produc-tion 2

656864

7481849185

9699

10093

105

Industry

Manufacturing

Total

666965

7582859286

9710010092

105

Dur-able

626459

7180859685

9810010087

102

Non-durable

707271

7982838787

9599

100100110

Min-ing

768071

8087878986

951001009195

Utili-ties

394346

5360657176

8594

100104115

Market

Final products

Total

656765

7379859186

9599

10095

107

Con-sumer

707271

8281828887

9799

10099

110

Equip-ment

535650

5475909685

9199

10087

100

Mate-rials

666964

7582839184

9710010091

103

Seasonally adjusted

928988878992

9395959699

100

100102104107109110

108103103102103109

918987878891

939595969999

100102104107110110

108104104102102109

878382808285

868989899495

9698

101105109110

10598979596

107

9796959697

100

102102103104105105

105107107110111111

113113113111111112

949186858588

919395959798

979695989998

949190919598

102102102102102104

104106107108107109

111111112112114116

116115117117119121

949291919294

96969697

101101

102102103106108108

109109109109107109

979694959699

10010199

100105105

106107107111111111

112112112112109113

898585848385

868889909292

92939597

100102

103102103103101102

908785848689

919396959898

99101104108110110

106989997

100109

1 Annual indexes (1947-49=100) for 1929-46, respectively, are: 58, 48, 40, 31, 37, 40, 46, 55, 60, 47, 58, 66,85, 105, 125, 123, 106, and 90.

2 Annual indexes (1957=100) for 1929-46, respectively, are: 38, 32, 26, 21, 24, 26, 31, 36, 40, 31, 38, 44, 56,69, 82, 81, 70, and 59.

3 Preliminary.

NOTE.—The data in this table are the revised series on industrial production. Coverage has beenbroadened to include electric and gas utility production, in addition to manufacturing and mining. Fordetails, see Federal Reserve Bulletin, December 1959.

Source: Board of Governors of the Federal Reserve System.

189


TABLE D-30.—Business expenditures for new plant and equipment, 1939 and 1945-60

[Billions of dollars!

Period

1939

194519461947 . ...1948 ,1949

19501951195219531954

1955 .. .. ..19561957 8

1958 3 _195934


1958: First quarter....Second quarterThird Quarter _ _ _Fourth quarter _

1959: First quarterSecond quarter _Third quarter _ _ .Fourth quarter 4

1960: First quarter 4 . _ _

Total i

5.51

8.6914.8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0836.9630.5332.64

Manufacturing

Total

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9515.9611.4312.06

Dura-ble

goods

0.76

1.593.113.413.482.59

3.145.175.615.655.09

5.447.628.025.475.77

Non-durablegoods

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.337.945.966.29

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.24.94.99

Transportation

Rail-road

0.28

.55

.58

.891.321.35

1.111.471.401.31.85

.921.231.40.75.93

Other

0.36

.57

.921.301.28.89

.21

.49

.50

.56

.51

1.601.711.771.502.04

Publicutili-ties

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.206.095.74

Com-mer-cialand

other 2

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510.409.81

10.87


36.8937.0337.7536.23

32.4130.3229.6129.97

30.6232.5133.3533.95

34.40

16.1216.2516.3715.27

13.2011.5310.8610.58

11.2011.8012.2512.82

13.84

8.098.318.237.57

6.585.575.164.86

5.265.745.836.13

6.97

8.037.948.147.70

6.625.965.705.72

5.946.066.426.69

6.87

1.351.281.241.15

1.00.92.88.97

.95

.941.011.05

.95

1.421.351.541.26

1.02.77.63.58

.631.001.28.87

.84

1.52.82.81.91

.69

.40

.29

.62

1.712.082.172.22

2.15

5.725.936.646.43

5.875.976.106.26

5.805.825.585.81

5.59

10.7610.4010.1510.21

9.639.739.859.96

10.3310.8711.0611.18

11.03

1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Annual total is the sum of unadjusted quarterly expenditures; it does not necessarily coincide with the

average of seasonally adjusted figures. See footnote 4.4 Estimates for fourth quarter 1959 and first quarter 1960 based on anticipated capital expenditures re-

ported by business in late October and November 1959. The quarterly anticipations include adjustments,when necessary, for systematic tendencies in anticipatory data.

NOTE.—These figures do not agree precisely with the plant and equipment expenditures included in thegross national product estimates of the Department of Commerce. The main difference lies in the inclusionin the gross national product of investment by farmers, professionals, and institutions, and of certain out-lays charged to current account.

This series is not available for years prior to 1939 and for 1940 to 1944.Detail will not necessarily add to totals because of rounding.

Sources: Securities and Exchange Commission and Department of Commerce.


TABLE D—31.—New construction activity, 1929—59

[Value put in place, millions of dollars]

Period

1929

19301931 ._19321933. .1934

193519361937 ..19381939

19401941 _194219431944

19451946194719481949

19501951195219531954 _ . _.

19551956.195719581959 4

1958: JanuaryFebruaryMarch _AprilMayJune



JulyAugustSeptember _ . _OctoberNovemberDecember * _ _

Totalnewcon-

struc-tion

10, 793

8,7416,4273,5382,8793,720

4,2326,4976,9996,9808,198

8,68211, 95714, 0758,3015,259

5,80912, 62717, 90123, 24324, 183

29, 94732,70034, 67037,01939, 362

44, 16445, 77947, 79548,90354,313

Private construction

Total i

8,307

5,8833,7681,6761,2311,509

1,9992,9813,9033,5604,389

5,0546,2063,4151,9792,186

3,41110,39614, 58218, 53917, 914

23,08123, 44723, 88925, 78327, 684

32, 44033, 06733, 77833, 49138, 343

Resi-dential

building(non-farm)

3,625

2,0751,565

630470625

1,0101,5651,8751,9902,680

2,9853,5101,715

885815

1,2764,7527,535

10, 1229,642

14,10012, 52912, 84213, 77715, 379

18, 70517, 67717, 01918, 04722, 377

Nonresidential building and other construction

Total

4,682

3,8082,2031,046

761884

9891, 4162,0281,5701,709

2,0692,6961,7001,0941,371

2,1355,6447,0478,4178,272

8,98110, 91811,04712,00612, 305

13, 73515,39016, 75915, 44415, 966

Com-mercial 2

1,135

893454223130173

211290387285292

3484091553356

2031,153

9571,3971,182

1,4151,4981,1371,7912,212

3,2183,6313,5643,5893,914

Indus-trial

949

532221

74176191

158266492232254

442801346156208

6421,6891,7021,397

972

1,0622,1172,3202,2292,030

2,3993,0843,5572,3822,008

Publicutility

1.578

1,527946467261326

363518705605683

771872786570725

8271,3742,3383,0433,323

3,3303,7294,0434,4754,289

4,3634,8935,4145,1055,280

Other 3

1,020

856582282194194

257342444448480

508614413335382

4631,4282,0502,5802,795

3,1743,5743,5473,5113,774

3,7553,7824,2244,3684,764

Publiccon-

struc-tion

2,486

2,8582,6591,8621,6482,211

2.2333,5163,0963,4203,809

3,6285, 751

10,6606,3223,073

2,3982,2313,3194,7046,269

6,8669,253

10, 78111, 23611, 678

11, 72412, 71214,01715, 41215, 970


48, 42048, 01247, 52047, 20847, 04047, 280

48,16848, 30049, 08050, 05251, 93653,088

54.68455, 30855,90856, 00456, 55656, 460

56, 05254, 79253, 12451, 75650, 80852,560

33, 51633, 13232, 85632, 48432, 34032, 448

32, 95233, 12033,50434,00834,88435,856

36, 78037,16437, 89638, 91639, 55239, 444

39, 61239, 12038,35237, 54837, 20038, 376

17, 19617, 11216, 92016, 76416, 87217, 076

17,64018,00018, 42019,08019,83620, 796

21, 51621, 74422,40423, 42423, 77223, 268

23.08822.50022, 26021, 73221, 14421,696

16, 32016, 02015, 93615, 72015,46815,372

15, 31215, 12015, 08414, 92815,04815,060

15, 26415, 42015, 49215, 49215, 78016, 176

16, 52416, 62016,09215, 81616, 05616, 680

3,5643,5283,5403,5523, 5763,636

3,6843,6003,5643,5403,5763,600

3,6483,6963,6603,7324,0084,128

4,2124,1643,9483,8163,8043,972

3,1923,0122,8202,6402,4482,268

2,1602,0522.0041,9802,0041,992

,920,920,872,836,884

1,956

2,0402,1002,0162,0282,1602,352

5,3765,2685,3645,2805,1485,136

5,0285,0285,0404,9204,9204,944

5,2325,3045,4485,4125,3405,364

5,3885,3285,2325,0765,1005,208

4,1884,2124,2124,2484,2964,332

4,4404,4404,4764,4884,5484,524

4,4644,5004,5124,5124,5484,728

4,8845,0284,8964,8964,9925,148

14, 90414, 88014, 66414, 72414, 70014, 832

15, 21615, 18015, 57616, 04417, 05217, 232

17, 90418, 14418, 01217, 08817, 00417, 016

16, 44015, 67214, 77214, 20813, 60814, 184

1 Excludes construction expenditures for crude petroleum and natural gas drilling, and therefore does notagree with the new construction expenditures included in the gross national product.

z Office buildings, warehouses, stores, restaurants, and garages.* Farm, institutional, and all other.< Preliminary.Source: Department of Commerce.

(See Table D-l).


TABLE D-32.—New public construction activity, 1929-59

[Value put in place, millions of dollars]

Period

1929

193019311932..19331934 . ...

19351936193719381939 _.

19401941194219431944

194519461947 ..19481949

19501951195219531954

195519561957195819593

Total new public construction 1

Allpublicsources

2,486

2,8582,6591,8621,6482,211

2,2333,5163,0963,4203,809

3,6285,751

10, 6606,3223,073

2,3982,2313,3194,7046,269

6,8669,253

10, 78111, 23611, 678

11, 72412,71214,01715, 41215, 970

Federal

Direct

155

209271333516626

814797776717759

1,1823,7519,3135,6092,505

1,737870840

1,1771,488

1,6252,9814,1854,1343,418

2,7772,7282,9913,4193,716

Federalaid

80

104235111286721

5671,5661,1171,3201,377

946697475268126

99244409417461

465479620713730

778911

1,3852,2442,654

Stateandlocal

2,251

2,5452,153

.1,418846864

8521,1531,2031,3831,673

1,5001,303

872445442

5621,1172,0703,1104,320

4,7765,7935,9766,3897,530

8,1699,0739,6419,7499,600

Major types of new public construction

High-way

1,266

1,5161,355

958847

1,000

8451,3621,2261,4211,381

1,3021,066

734446362

398764

1,3441,6612,015

2,1342,3532,6793,0153,680

3,8614,3954,8925,5005,800

Educa-tional

389

36428513052

148

153366253311468

1561581286341

59101287618934

1,1331,5131,6191,7142,134

2,4422,5562,8252, 8752,637

Hos-pitaland

institu-tional

101

118110834951

38747397

127

5442354458

858577

213458

499527495369333

300300354390423

Sewerand

waterand

miscel-laneouspublicservice

404

500479291160228

246509445492507

469393254156125

152278492699803

819959958

1,0501,171

1,3181,6591,7371, 8382,012

Con-serva-tionandde-

velop-ment

115

137156150359518

700658605551570

528500357285163

130260424670852

942912900892773

701826971

1,0191,112

Mili-tary

facili-ties

19

2940343647

37293762

125

3851,6205,0162,550

837

690188204158137

177887

1,3871,2901,003

1,2871,3601,2871,4021,435

Allother

public 2

192

194234216145219

214518457486631

7341,9724,1362,7781,487

884555491685

1,070

1,1622,1022,7432,9062,584

1,8151,6161,9512,3882,551

1 For expenditures classified by ownership, combine "Federal aid" and "State and local" columns toobtain State and local ownership. "Direct" column stands as it is for Federal ownership.

2 Includes nonresidential building other than educational and hospital and institutional (industrial,commercial, public administration, social and recreational, and miscellaneous), public residential buildings,and publicly owned parks and playgrounds, memorials, etc.

a Preliminary.

Source: Department of Commerce.

192


TABLE D—33.—Housing starts and applications for financing, 1929-59

[Thousands of units]

Period

192931930 .-1931193219331934 ._1935 _..19361937193819391940194119421943194419451946 .19471948.19491950195119521953—19541955 ._195619571958 _1959 7

1958: JanuaryFebruaryMarchApril „May.JuneJulyAugustSeptember .OctoberNovemberDecember

1959: January _FebruaryMarchAprilMayJune.JulyAugustSeptemberOctober -November 7

December7

New nonfarm housing starts

Total

509.0330.0254.0134.093.0

126.0221.0319.0336.0406.0515.0602.6706.1356.0191.0141.8209.3670.5849.0931.6

1, 025. 11,396.01, 091. 31, 127. 01, 103. 81, 220. 41, 328. 91, 118. 11, 041. 91, 209. 41,376.9

67.966.181.499.1

108.5113.0112.8124.0121.0115.0109.491.287.094.5

121.0142.2137.0136.7128.8129.3120.3105.592.382.3

Pub-liclyfi-

nanced 1

5.314.83. 66.7

56.673.086.654.87.33.11.28.03.4

18.136.343.871.258.535.518.719.424.249.167.935.45.05.14.14.97.2

11.74.29.4

10.12.12.41.72.91.02.94.83.55.61.64.23.43.31.6.6

Privately financed

Total

509.0330.0254.0134.093.0

126.0215.7304.2332.4399.3458.4529.6619.5301.2183.7138.7208. 1662.5845.6913.5988.8

, 352. 2, 020. 1, 068. 5, 068. 3, 201. 7, 309. 5, 093. 9992.8

, 141. 5,341.5

62.961.077.394.2

101.3101.3108.6114.6110. 9112.9107.089.584.193.5

118.1137.4133.5131.1127.2125.1116.9102.290.781.7

Government programs

Total

14.049.460.0

118.7158.1180.1220.4165.7146.293.3

(5)(5)(5)(5)(5)

686.7412.2421.2408.5583.3669.6460.0296.7397.5440.017.414.119.627.432.036.540.343.646.349.436.834.026.726.139.844.644.645.642.141.039.536.027.926.1

FHA

14.049.460.0

118.7158.1180.1220.4165.7146.293.341.269.0

229.0294.1363.8486.7263.5279.9252. 0276.3276.7189.3168.4295. 4330.713.311.316.522.726.028.029.730.531.934.725.825.019.820.030.033.534.334.731.431.129.626.620.119.7

VA

(5)(5)(5)(5)(5)

6 200. 0148.6141.3156.5307.0392.9270.7128.3102.1109.3

4.12.83.14.86.08.5

10.613.214.414.711.09.06.96.29.7

11.010.311.010.69.9

10.09.47.96.4

Private,season-ally ad-justedannualrates

1,020915918983

1, 0391,0571,1741,2281,8551,3031,4®71,4321,3641,4031,4031,4341,3701,3681,3751,3401 3231,1801,2101.310

Proposed homeconstruction 2

FHAapplica-

tions

4 20. 647 849.8

131 1179.8231.2288 5238.5144.462 956.6

121.7286.4293.2327.0397.7192.8267.9253.7338.6306.2197.7198.8341.7369.717.320.625.031.634.633.431.833.636.831.822.323.025.529.538.939.138.260.229.025.625.524.116.118.2

VA ap-praisal

requests

(5)(5)(5)(5)(5)(5)164.4226.3251.4535.4620.8401.5159.4234.2234.0

5.35.38.4

24.829.228.428.528.526.719.115.314.817.921.023.218.920.727.226.021.217.916.712.211.1

1 Military housing starts, including those financed with mortgages insured by FHA under Section 803of the National Housing Act, are included in publicly financed starts but excluded from the privatelyfinanced starts for FHA and Government programs.

2 Units in mortgage applications for new home construction.3 The number of units started for the years 1920-28, respectively, was as follows: 247,000; 449,000; 716,000;

871,000; 893,000; 937,000; 849,000; 810,000; and 753,000.* FHA program approved in June 1934; all 1934 activity included in 1935.'Not available.«Partly estimated.7 Preliminary.


Sources: Department of Commerce, Federal Housing Administration (FHA), and Veterans Administra-tion (VA).


TABLE D—34.—Sales and inventories in manufacturing and trade, 1939—59

[Amounts in billions of dollars]

Period

1939

1940...194119421943 .1944... _ . _ .

1945 .1946—194719481949

1950195119521953.1954

1955195619571958 _1959 « «

1958: JanuaryFebruary. _.MarchAprilMayJune

JulyAugust... -_September. .OctoberNovember. .December—


JulyAugustSeptember. .OctoberNovember fl_December 6.

Total manufactur-ing and trade 1

Sales 2

10.8

12.115.818.621.923.8

23.927.233 236.134.5

39.744.745.948.447.4

52.354.856.354.059.8

Inven-tories 3

20.1

22.228.831.131.331.1

30.942.950.555.451.8

62.873.875.478.675.5

81.789.190.785.188.3

Ratio <

1.77

1.721.581.661.401.33

.30

.33

.43

.48

.56

.39

.58

.61

.61

.62

.49

.56

.61

.61

.47

Manufacturing

Sales 2

5.1

5.98.2

10.412.813.8

12.912.615.917.616.4

19.322.322.824.523.5

26.327.728.426.229.6

Inven-tories 3

11.5

12.817.019.320.119.5

18.424.528.931.728.9

34.342.843.845.443.0

46.452.353.549.251.5

Ratio*

2.11

2.06.78.77.51.45

.48

.66

.71

.72

.86

.57

.77

.90

.84

.86

.68

.79

.89

.931.73

Wholesale trade *

Sales 2

2.2

2.43.03.43.84.2

4.56.07.37.57.2

8.49.49.69.89.7

10.611.311.311.112.3

Inven-tories s

3.1

3.24.03.83.73.9

4.66.67.67.97.6

9.19.7

10.010.510.4

11.413.012.712.012.6

Ratio4

1.34

1.301.201.19.97.94

.91

.901.011.011.07

.96

.05

.01

.06

.07

.02

.08

.13

.10

.00

Retail trade J

Sales 2

3.5

3.94.64.85.35.9

6.58.5

10.010.910.9

12.013.013.514.114.1

15.315.816.716.718.0

Inven-tories 3

5.5

6.17.88.07.67.6

7.911.914.115.815.3

19.321.221.622.722.1

23.923.924.524.024.2

Ratio4

1.53

.49

.48

.76

.43

.31

.21

.13

.27

.40

.43

.40

.65

.55

.59

.59

.50

.50

.44

.44

.36

Seasonally adjusted

53.852.151.352.152.453.2

54.054.454.855.656.157.4

57.458.059.260.661.562.0

61.759.660.159.759.4

90.089.388.587.686.986.4

85.985.485.084.985.085.1

85.586.086.687.688.389.3

89.989.589.288.888.3

1.671.711.721.681.661.62

1.591.571.551.531.521.48

1.491.481.461.441.441.44

1.461.501.481.491.49

26.425.524.924.925.225.7

26.326.426.827.227.528.1

28.128.529.130.330.731.2

30.929.329.829.429.2

52.952.452.051.550.950.2

49.849.449.349.349.349.2

49.549.950.551.151.652.1

52.252.151.951.551.5

2.012.052.092.062.021.95

1.891.871.841.821.791.75

1.761.751.731.691.681.67

1.691.781.741.751.76

10.710.510.310.710.710.9

11.011.111.411.511.611.7

11.811.912.212.412.512.6

12.512.212.512.012.3

12.612.512.412.212.112.1

12.112.112.112.112.112.0

11.911.912.012.112.212.4

12.512.612. 512.512.6

1.181.201.201.141.131.11

1.101.091.061.051.041.03

1.011.00.98.97.97.98

1.001.031.001.041.02

16.716.116.116.516.616.6

16.716.916.616.917.017.6

17.517.617.918.018.218.2

18.318.117.818.317.817.6

24.524.324.123.923.924.1

24.023.923.723.523.624.0

24.224.124.224.524.524.8

25.124.824.824.724.2

1.461.511.501.451.441.45

1.431.421.431.39.39.36

.39

.37

.351.361.351.36

1.371.371.391.351.36

1 The series beginning in 1948 are not comparable with the previous years because of changes in definitionfor the wholesale series. Beginning in 1951, the estimates of retail sales and inventories are based on anew method of estimation adopted by the Bureau of the Census.

2 Monthly average shown for year and total for month.3 Seasonally adjusted, end of period.4 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.5 Where December data not available, data for year calculated on basis of no change from November.'Preliminary.

NOTE.—For a description of the series and their comparability, see Survey of Current Business, Septemberand November 1952, January 1954, and June 1957 for retail, and August 1957 for manufacturing andwholesale.

The inventory figures in this table do not agree with the estimates of change in business inventoriesincluded in the gross national product since these figures cover only manufacturing and trade ratherthan all business, and show inventories in terms of current book value without adjustment for revaluation.


194


TABLE D-35.—Manufacturers' Sales, inventories, and orders, 1930-59


Period

1939

19401941194219431944

19451946194719481949

1950195119521953 .1954

1955 .. . .195619571958...1959 « «

1958:JanuaryFebruary. _.March ..AprilMayJune

JulyAugustSeptember..OctoberNovember..December..

1959:JanuaryFebruary. __MarchAprilMayJune

JulyAugustSeptember..October.November ».

Sales i

Dura-ble

goodsindus-tries

1.9

2.53.85.26.97.3

6.35.06.77.67.1

8.810.410.912.411.2

13.113.814.212.414.4

Non-durablegoodsindus-tries

3.2

3.44.45.36.06.4

6.67.69.2

10.09.3

10.511.911.912.112.3

13.313.914.213.815.2

Inventories 2

Durable goodsindustries

Pur-chasedmate-rials

1.8

2.13.13.73.93.3

3.24.55.15.64.6

6.17.47.37.46.5

7.48.78.37.58.1

Goodsin

process

1.5

2.03.24.65.25.0

3.54.65.25.44.7

6.08.6

10.210.79.8

11.112.812.711.311.8

Fin-ishedgoods

2.1

2.22.32.22.12.1

2.12.94.04.74.7

4.76.86.98.17.7

8.29.2

10.19.09 4

Nondurable goodsindustries

Pur-chasedmate-rials

2.4

2.64.04.34.54.7

4.96.57.27.36.5

8.49.18.68.17.9

8.18.58.88.68.9

Goodsin

process

0.8

.91.21.21.41.4

1.51.82.22.22.1

2.52.72.72.72.6

2.83.03.13.03.0

Fin-ishedgoods

2.9

3.03.23.33.03.0

3.24.25.26.56.3

6.68.28.18.48.4

8.810.110.59.8

10.3

New orders 1

Total

5.4

6.89.8

13.312.711.9

10.513.715.617.415.9

21.024.523.623.122.5

27.228.327.325.930.1

Dura-ble'

goodsindus-tries

2.2

3.45.38.06.85.5

3.95.96.47.56.6

10.312.711.711.010.2

13.914.413.112.014.8

Non-durable

goodsindus-tries

3.2

3.44.55.35.96.4

6.67.89.39.99.3

10.711.811.912.112.3

13.313.914.213.915.3

Seasonally adjusted

12.612.011.711.511.612.1

12.312.412.712.913.313.6

13.513.914.415.215.515.8

15.414.014.114.013.5

13.713.513.313.413.613.7

14.014.014.114.214.214.5

14.614.614.715.115.215.5

15.515.315.715.315.7

8.38.38.18.07.87.6

7.57.47.57.77.67.5

7.77.88.18.38.58.9

8.98.78.38.08.1

12.412.111.911.811.611.4

11.311.311.311.311.311.3

11.411.411.511.711.811.9

11.911.912.011.811.8

9.99.99.89.79.69.5

9.59.39.29.09.09.0

9.09.29.39.39.49.5

9.59.59.59.49.4

8.88.88.88.88.88.8

8.88.78.68.78.68.6

8.68.68.68.78.89.0

9.09.08.99.08 9

3.03.02.92.92.92.9

2.93.02.92.93.03.0

3.03.03.03.03.03.0

3.13.13.13.13.0

10.510.410.410.410.210.0

9.89.79.79.89.99.8

9.89.99.9

10.010.09.9

9.89.9

10.110.210.3

24.424.124.824.525.025.8

26.426.127.027.927.828.4

28.529.730.231.230.531.4

30.829.030.630.429.5

10.710.711.510.811.412.2

12.512.212.913.513.613.7

13.914.915.315.815.216.1

15.514.014.715.113.9

13.713.413.313.713.613.5

13.913.914.214.414.214.7

14.614.814.915.415.315.3

15.315.015.815.415.6

Un-filledorders(unad-just-ed) a

7.0

18.437.972.971.549.0

20.933.830.326.920.8

41.167.676.359.546.9

56.964.250.746.851.5

49.147.847.546.546.146.4

46.746.746.246.146.746.8

47.749.150.450.550.150.4

50.650.651.151.551.5

1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.3 End of period.4 Based on data through November.* Preliminary.

NOTE.—See Table D-34 for total sales and inventories of manufacturers.


195


PRICES

TABLE D-36.—Wholesale price indexes, 1929-59

[1947-49=100] *

Period

1929

193019311932 . .19331934

19351936193719381939 -

19401941194219431944 .

1945 .194619471948 -. .1949

1950 _1951195219531954

195519561957195819593


JulyAugustSeptemberOctoberNovember _ _December


July .. . .August .SeptemberOctoberNovember _December 3

Allcom-modi-ties

61 9

56 147 442.142 848 7

52 052.556.151 150.1

51.156.864.267 067.6

68.878.796 4

104.499.2

103.1114 8111 6110 1110.3

110 7114 3117 6119.2119 5

118 9119 0119.7119 3119.5119 2

119 2119 1119.1119 0119 2119 2

119.5119 5119 6120.0119 9119.7

119.5119.1119 7119. 1118.9118.9

Farmprod-ucts

58 6

49 336 226 928 736 5

44 045 248.338 336 5

37.846.059.268 568.9

71.683.2

100.0107.392.8

97.5113 4107 097 095.6

89 688 490 994.989 1

93 796 1

100 597 798 595 6

95 093 293 192 392 190 6

91.591 190 892.490 889.8

88.487.188 986 585.485.8

Proc-essedfoods

58 5

53 344 836 536 342 6

52 150 152.445 643 3

43.650 559.161 660.4

60 877.698 2

106. 195.7

99.8111 4108 8104 6105.3

101 7101 7105 6110.9107 0

109 5109 9110 7111 5112 9113 5

112 7111 3111 1110 0109 5108 8

108.7107 6107 2107.2107 7108 1

107.5105.8107 8106 4104.9104 7

All coi

Total

65 5

60 953 650.250 956 0

55 756.961.058 458.1

59.463.768.369.370.4

71.378.395.3

103.4101.3

105.0115.9113.2114 0114.5

117 0122.2125 6126.0128 2

126 1125 7125.7125 5125.3125 3

125 6126 1126.2126 4126.8127.2

127.5127 8128.1128.3128 4128.2

128.4128.4128 4128.4128.5128.6

nmodities

Textileprod-uctsand

apparel

64 2

57 147 139.046 051 8

50 450.854.247 449.5

52.460.368.969.269.9

71.182.6

100.1104.495.5

99.2110.699.897.395.2

95 395.395.493.595.0

94 694 194.093 793.593 3

93 393 393.393 293.193 3

93.393 793 994.194 594.9

95.395.795 995 996.396 7

other thaand foods

Chemi-calsand

alliedprod-ucts

(2)

(2)(2)(2)51 253 7

56 056.459.055 955.8

56.661.669.369.570.2

70.676.3

101.4103.894.8

96.3110 0104.5105 7107.0

106 6107.2109 5110.4109 9

110 8110 6110 7111 0110.8110 7

110 4110 0109 9110 2110 2110 0

110.2109 9109 8110.0110 0110.0

109 9109.7109 9110 0110.0110 0

n farm pr

Rubberand

rubberprod-ucts

83 5

73 062 053 856 865 8

66 471 784.482 786 3

80.286.5

100.6103 3102.0

98.999.499.0

102.198.9

120.5148 0134.0125 0126.9

143 8145 8145 2145.0144 8

145 1144 6144 6144 5143 8144 2

144 7144 6145 4146 3146 7145 6

145.2145 4146 0146.7148 0146 6

146 4141.0142 0142 3145. 1142 7

oducts

Lumberand

woodprod-ucts

31 9

29 423 820 324 228 5

27 428 733 730 831 6

35.241 845.448 051 9

52 560.393 7

107.299.2

113.9123 9120.3120 2118.0

123 6125 4119 0117.7125 8

116 3115 8115 5115 7115.9116 4

116 8118 6120 4120 8120 0119 8

120.5122 5124 2126.3128 2128 9

128 3128.5127 2126 2124.3124 7


196


TABLE D-36.—Wholesale price indexes, 7929-59—Continued

[1947-49=100] i

Period

1929

19301931193219331934

1935 . .193619371938 _. .1939

19401941 .194219431944 .

1945 .1946 . . _ ..19471948 .1949

19501951 .1952 .._19531954

1955 . .19561957195819593

1958: JanuaryFebruaryMarchAprilMay. _ .June

JulyAugustSeptember- -.OctoberNovemberDecember

1959: JanuaryFebruaryMarchAprilMay .June

JulyAugustSeptember. ..OctoberNovember...December3—

All commodities other than farm products and foods (continued)

Hides,skins,

leather,and

leatherprod-ucts

59.3

54.446.839.744.047.1

48.751.956.950.552.0

54.858.964.063.963.4

64.274.6

101.0102.196.9

104.6120.397.298.594.2

93.899.399.4

100.6114.3

99.599.699.599.799.9

100.3

100.3100.5100.2101.4102.3103.6

104.1105.4108.5117.8118.5118.9

119.3119.7119.1116.2111.7112.2

Fuel,power,

andlight-ing

mate-rials

70.2

66.557.259.556.162.0

62.264.565.764.761.8

60.764.566.468.470.3

71.176.290.9

107.1101.9

103.0106.7106.6109.5108.1

107.9111.2117.2112.7112.7

116.1113.6112.4111.0110.3110.7

111.9113.7114.1113.0112.6112.9

113.9114.8115.0114.0113.4111.2

111.1112.2111.9111.4111.2111.7

Pulp,paper,

andalliedprod-ucts

(2)

(2)(2)

I(2)

il(2)

(2)(2)(a)(2)(2)

(2)(2)98.6

102.998.5

100.9119.6116.5116.1116.3

119.3127.2129.6131.0132.2

130.8130.8130.5130.5130.5130.5

131.0131.0131.7131.9131.9131.3

131.5131.7132.0132.2132.0132.3

132.4132.3132.4132.5132.3132.4

Metalsand

metalprod-ucts

67.0

60.354.149.950.956.2

56.257.365.663.162.6

62.864.064.964.864.8

65.973.991.3

103.9104.8

110.3122.8123.0126.9128.0

136.6148.4151.2150.4153.7

150.0150.1149.8148.6148.6148.8

148.8150.8151.3152.2153.0153.0

152.9153.4153.6152.8153.0153.3

152.7152.8153.8154.5155.8155.3

Machin-ery andmotiveprod-ucts

(2)

8(2)(2)(2)

(2)(2)(2)(2)65.3

66.268.671.271.071.0

71.680.392.5

100.9106.6

108.6119.0121.5123.0124.6

128.4137.8146.1149.8153.0

149.4149.3149.2149.4149.4149.5

149.5149.5149.4149.9151.2151.5

151.8152.0152.2152. 1152.5153.0

153. 6153.8153.9153.7153.6153.7

Furni-tureand

otherhouse-holddura-bles

69.3

68.262.855.455.560.2

59.860.667.265.665.4

66.871.276.876.478.4

78.683.095.6

101.4103.1

105.3114.1112.0114.2115.4

115.9119.1122.2123.2123.4

123.8123.6123.5123.4123.2123.0

123.2123.0123.0123.0122.7122.8

123.3123.3123.5123.4123.5123.6

123.8123.5123.4123.3123.3123.2

Non-metal-

licminer-

als(struc-tural)

72.6

72.467.663.466.971.6

71.671.773.471.169.5

69.771.374.174.575.9

79.184.293.9

101.7104. 4

106.9113.6113.6118.2120.9

124.2129.6134.6136.0137.7

136.4136.5135.3135.4135.4135.2

135.3135.2136.7136.7136.7136.9

137.2137.5137.7138.3138.4137.4

137.5137.4137.5137.5137.7137.8

Tobaccomanu-

facturesand

bottledbever-ages

86.6

87.184.681.472.876.0

75.975.876.576.476.4

77.378.179.183.083.4

85.889.797.2

100.5102.3

103.5109.4111.8115.4120.6

121.6122.3126.1128.2131.4

128.1128.1128.0128.0128.0128.0

128.0128.0128.0128.8128.7128.6

128.6128. 9132.1132.2132.2132.2

132.2131. 9131.8131.7131.7131.7

Miscel-laneousprod-ucts

(2)

8(2)(2)(a)

(2)

8(2)(')

88(2)

(2)(2)100.8103.196.1

96.6104.9108.397.8

102.5

92.091.089.694.294.5

88.389.394.397.896.293.7

97.295.692.591.293.2

100.9

100.898.597.098.895.291.0

92.992.088.691.893.794.2

1 This does not replace the former index (1926=100) as the official index prior to January 1952. Databeginning January 1947 represent the revised sample and weighting pattern. Prior to January 1947 theyare based on the month-to-month movement, of the former index.

2 Not available.* Preliminary.


197


TABLE D-37.—Wholesale price indexes, by stage of processing, 7947-59

[1947-49=100]

Period

194719481949

1950.195119521953 . _1954

19551956195719581959*

1958:JanuaryFebruary. .-MarchAprilMay...June

JulyAugustSeptember..OctoberNovember. _December

1959:JanuaryFebruary- _.MarchAprilMayJune

JulyAugustSeptember..OctoberNovember..December 4.

Allcom-modi-ties

96.4104. 499.2

103.1114.8111.6110.1110.3

110.7114.3117.6119.2119.5

118.9119.0119.7119.3119.5119.2

119.2119.1119.1119.0119.2119.2

119.5119.5119.6120.0119.9119.7

119.5119.1119.7119.1118.9118.9

Crude materials

Total

98.6108.093.4

101.8116.9107.499.298.3

94.595.097.299.496.7

97.599.5

101.5100.3101.7100.7

100.099.198.498.098.497.0

98.198.098.999.698.598.1

96.495.695.994.493.693.4

Food-stuffsandfeed-stuffs

100.7108.890.5

97.0112.3105.794.694.7

85.784.087.792.886.8

90.393.296.795.497.795.7

94.392.190.789.389.988.4

89.789.089.891.189.788.7

86.385.285.383.281.882.1

Non-foodma-

terials,except

fuel

96.0106.897.2

111.0128.1110.9106.2104.2

110.1114.2112.5108.4112.2

107.6107.9107.1106.3106.0107.0

107.7109.3109.6111.1111.2110.1

110. 5111.3112.7112.6112.3113.1

112.6112.1112.7112.3112.8111.4

Fuel

89.4105.6105.0

104.6106.5107.2111.0106.0

105.8113.3119.7121.2123.4

123.0123.5123.4117.9117.9118.2

118.8120.6121.8123.1123.0123.5

126.1126. 4125.4120.3120.3120.3

119.7122.5124.2124.2125.2125.8

Intermediate materials, supplies, and components 1

Total

96.2104.099.9

104.3116.9113.5114.1114.8

117.0122.1125.1125.3127.0

125.4125.0125.0125.1124.9124.7

125.0125.3125.4125.4125.7126.3

126.3126.5126.7127.2127.4127.1

127.2127.0126.9127.1127.3127.3

Materials and components formanufacturing

Total

96.4104.099.6

104.5118.4113.4115.2115.4

118.2123.7126.9127.2129.0

127.5127.3127.1126.9126.8126.9

126.7127.2127.3127.6127.8127.8

127.7128.0128.2128.6129.3129.5

129.4129.1129.4129.4129.5129.5

Ma-terials

forfood

manu-factur-

ing

102.8106.091.2

94.9105.7101.5101.8100.9

97.798.099.9

102.298.5

102.4102.5102.4103.2103.5103.4

102.6101.8101.5101.4101.2100.4

99.298.597.797.499.099.5

99.398.699.198.597.897.0

Ma-terials

fornon-du-

rablemanu-factur-

ing

99.2105.095.8

100.5116.5104.8104.0102.3

102.7104.3105. 7104.7106.4

105.7105.4105.2105.0104.6104.5

104.3104.2104.1104.2104.3104.5

104.5104.8105.2106.4106.8106.8

107.0107.0107.2106.9106.8107.0

Ma-terials

fordu-

rablemanu-factur-

ing

91.2103.0105.8

111.9124.3124.6130.1133.1

139.7148.5153.2154.3158.0

153.8153.6153.5152.9152.9152.9

152.9155.0155.4156.2156.6156.6

156.6157.1157.6157.7158.1158.5

157.8157.6158.2158.5159.0158.8

Com-po-

nentsfor

manu-factur-

ing

94.4101.9103.8

107.6122.2122.5124.7125.3

130.9142.9148.3149.5151.7

149.3149.1148.8148.5149.0149.4

149.5149.5149.8150.2150.7150.7

150.8151.0151.1150.9151.9152.2

152.1151.3151.5151.8152.6152.7

Ma-terialsandcom-po-

nentsfor

con-struc-tion

93.3103.2103.5

108.9119.1118.3120.2120.9

125.6132.0132.9132.9136.5

133.0132.6131.9131.8132.0132.1

132.1132.7133.7134.2134.1134.2

134.5135.3135.7136.5137.2137.4

137.0137.1137.0136.9136.7136.9


198


TABLE D-37.—Wholesale price indexes, by stage of processing, 1947-59—Continued

[1947-49=100]

Period

19471948.1949

19501951195219531954... .

19551956-..195719581959*

1958: JanuaryFebruary .MarchAprilMayJune _ _

JulyAugust -_SeptemberOctober..NovemberDecember -

1959: January _FebruaryMarchAprilMayJune.- _

JulyAugust - -_SeptemberOctober ._ _NovemberDecember 4 -

Finished goods

Total

95.9103.5100.6

102.4112.1111.5110.4110.7

110.9114.0118.1120.8120.6

120.6120.6121.4120.9121.0120.7

120.8120.6120.9120.6120.6120.5

120.8120.7120.6120. 8120.6120.5

120.5120.2121. 4120.5120.0120.1

Consumer finished goods

Total

96.8104.199.2

100.9110.3109.0107.1107.1

106.4108.0111.1113.5112.5

113.3113.3114.4113.7113.9113.6

113.7113.3113.7113.3113.0112.8

113.1112.9112.7112.9112.6112. 4

112.4111.8113.4112.3111.7111.9

Foods

97.0105.897.2

99.2111.3110.4104.6103.8

101.1101.0104.5110.5105.5

109.2110.1113.1111.9112.5111.6

111.5110.0110.8109.6108.5107.6

107.8106.8105.6106.2105.5105.6

105.4103.6107.2105.0103.5103.6

Othernon-

durablegoods

97.4103.599.2

100.8108.5105.9106.9107.2

107.8109.9112.4111.7113.3

112.5111.8111.5111.1110.9111.0

111.4112.0112.2112.2112.0112.2

112.7113.1113.7113.6113.5112.8

113.1113.4113.5113.5113.6113.8

Du-rablegoods

94.8101.3104.0

105.0112.1113.0113.8114.7

115.9119.7123.3125.0126.5

125.1124.9124.9124.8124.7124.7

124.7124.7124.6125.0126.0126.1

126.4126.4126.5126.5126.6126.7

126.7126.7126.6126.0126.1126.2

Pro-ducer

finishedgoods

92.8101.1106.1

108.7119.3121.3123.1124.7

128.5138.1146.7150.3153.2

150.1150.1150.0150.1150.0150.0

150.0150.0150.1150.3151.6152.0

152.2152.4152.8152.9153.2153.5

153.6153.6153.8153.8153.6153.7

Special groups of industrialproducts

Crudemate-rials a

92.9108.598.6

109.9120.8109.3108.5103.3

113.4120.0118.3113.7120.0

112.2112.9112.0110.2109.7111.2

112.4114.7115.9117.8118.5116.5

117.7118.8119.5119.0118.2119.6

119.8121.0122.0121.7122.6120.8

Inter-mediate

materials,supplies,and com-ponents 3

95.3103.7101.0

105.7118.5114.7116.2116.7

120.1126.0129.3129.1131.2

129.7129.2128.8128.6128.5128.5

128.5129.1129.4129.6129.7129.9

129. 9130.4130.7131.2131.6131.6

131.6131.5131.6131.5131.6131.7

Con-sumer

finishedgoods ex-cluding

foods

96.6102.8100.6

102.1109.6108.0108.9109.4

110.2, 112.8

115.7115.8117.3

116.3115.8115.6115.3115.2115.2

115.5115.8116.0116.1116.8116.5

116.9117.2117.6117.5117.5117.1

117.2117.5117.5117.3117.4117.5

1 Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies.2 Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.3 Excludes intermediate materials for food manufacturing and manufactured animal feeds.4 Preliminary.NOTE.—For a listing of the commodities included in each sector and their relative importance, see Monthly

Labor Review, December 1955 and Wholesale Prices and Price Indexes, 1958 (BLS Bulletin No. 1257).Source: Department of Labor.

533287 0—60 14


TABLE D—38.—Consumer price indexes, by major groups, 1929—59

For city wage-earner and clerical-worker families

[1947-49=100]

Period

1929

19301931.193219331934

19351936193719381939— _ _ _ _.

1940 _ _19411942_ _ . _19431944. . .

194519461947. •19481949

19501951.19521953 .1954

195519561957195819592

1958: JanuaryFebruaryMarchApril ...MavJune

JulyAugust .- _ _ _ -_SeptemberOctoberNovemberDecember

1959: JanuaryFebruaryMarchApril. .- . _.MayJune-

JulyAugustSeptemberOctober.. . .November

Allitems

73.3

71.465.058.455.357.2

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.2123.5124.5

122.3122.5123.3123.5123.6123.7

123.9123.7123.7123.7123.9123.7

123.8123.7123.7123.9124.0124.5

124.9124.8125.2125.5125.6

Food

65.6

62.451.442.841.646.4

49.7.50.152.148.447.1

47.852.261.368.367.4

68.979.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4120.3118.3

118.2118.7120.8121.6121.6121.6

121.7120.7120.3119.7119.4118.7

119.0118.2117.7117.6117.7118.9

119.4118.3118.7118.4117.9

Housing

Total

0)

0)0)0)0)0)71.872.875.476.676.1

76.478.381.882.884.7

86.188.395.0

101.7103.3

106.1112.4114.6117.7119.1

120.0121.7125.6127.7129.1

127.1127.3127.5127.7127.8127.8

127.7127.9127.9127.9128.0128.2

128.2128.5128.7128.7128.8128.9

129.0129.3129.7130.1130.4

Rent

117.4

114.2108.297.183.678.4

78.280.183.886.586.6

86.988.490.490.390.6

90.991.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.2137.7139.6

136.8137.0137.1137.3137.5137.7

137.8138.1138.2138.3138.4138,7

138.8139.0139.1139.3139.3139.5

139.6139.8140.0140.4140.5

Ap-parel

60.3

58.953.647.545.950.2

50.651.053.753.452.5

53.255.664.967.872.6

76.383.797.1

103.599.4

98.1106.9105.8104.8104.3

103.7105.5106.9107.0107.8

106.9106.8106.8106.7106.7106.7

106.7106.6107.1107.3107.7107.5

106.7106.7107.0107.0107.3107.3

107.5108.0109.0109.4109.4

Trans-porta-tion

0)

0)0)0)0)0)69.670.271.371.970.2

69.872.278.578.278.2

78.182.190.6

100.9108.5

111.3118.4126.2129.7128.0

126.4128.7136.0140.5146.1

138.7138. 5138.7138.3138.7138.9

140.3141.0141.3142.7144.5

/144. 3

144.1144.3144.9145.3145.4145.9

146.3146.7146.4148.5149.0

Medi-cal

care

C)

0)0)(')0)0)71.471.672.372.572.6

72.773.175.178.781.2

83.187.794.9

100.9104.1

106.0111.1117.2121.3125.2

128.0132.6138.0144.6150.6

141.7141.9142.3142.7143.7144.2

145. 0145.3146.5147.1147.4147.6

148.0149.0149.2149.6150.2150.6

151.0151.4152.2152.5153.0

Per-sonalcare

0)

0)0)0)0)0)

54.655.358.559.859.6

59.561.066.973.879.0

81.587.497.6

101.3101.1

101.1110.5111.8112.8113.4

115.3120.0124.4128.6131.0

127.8128.0128.3128.5128.5128.6

128.9128.9128.7128.8129.1129.0

129.4129.8129.7130.0130.7131.1

131.3131.7132. 1132.5132.7

Read-ing andrecrea-

tion

0)

0)C1)

0)0)0)58.159.160.862.963.0

64.166.469.575.383.4

86.889.795.5

100.4104.1

103.4106.5107.0108.0107.0

106.6108.1112.2116.7118.4

116.6116.6117.0117.0116.6116.7

116.6116.7116.6116.6117.0116.9

117.0117.1117.3117.7117.8118.1

119.1119.1119.6119.7120.0

Othergoodsand

services

0)

0)0)0)(l)0)

67.267.068.869.470.6

72.874.276.380.282.4

85.788.696.1

100.5103.4

105.2109.7115.4118.2120.1

120.2122.0125.5127.2129.5

127.0127.0127.2127.2127.2127.2

127.2127.1127.1127.2127.3127.3

127.3127.4127.3128.2128.4129.2

130.8131.1131.5131.6131.6

1 Not available.2 January-November average.


200


TABLE D—39.—Consumer price indexes, by special groups, 1935-59

For city wage-earner and clerical-worker families

[1947-49=100]

Period

193519361937 _. -19381939 - -

1940194119421943 .1944

19451946194719481949

19501951 .195219531954

1955 - - -1956195719581959 J

1958' JanuaryFebruaryMarch. _ _ _ _ _ _AprilMayJune


1959: January _FebruaryMarchApril __MayJune

JulyAugustSeptemberOctoberNovember

Allitems

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.2123.5124.5

122.3122.5123.3123.5123.6123.7

123.9123.7123.7123.7123.9123.7

123.8123.7123.7123.9124.0124.5

124.9124.8125.2125.5125.6

Allitemslessfood

65.866.568.969.669.1

69.47L. 476.478.581.5

83.487.095.1

101.9103.0

104.2110.8113.5115.7116.4

116.7118.8122.8125. 5127.8

124.7124.8125. 0125.0125.1125.2

125.4125.6125.8126.0126.5126.5

126.4126.7126.9127.1127.3127.5

127.9128.2128.7129.2129.5

Allitemslessshel-ter

55.556.258.056.455.4

55.859.166.671.672.9

74.882.395.6

103.1101.3

102.0110.5112.7113.1113.0

112.4114.0117.8121.2122.2

120.0120.2121.0121.2121.3121.4

121. 6121.4121.5121.5121.7121. 5

121. 5121.4121.4121.5121.6122.2

122.7122.4122.9123.2123.1

Commodities

Allcom-modi-ties

52.052.754.752.751.6

52.155.763.869.470.2

72.380.196.3

103.2100.6

101.2110.3111.7111.3110.2

109.0110.1113.6116.3116.5

115.4115. 5116.4116.6116.6116.6

116.8116.4116.4116.4116.6116.3

116.2116.0115. 9115.9115. 9116.6

117.0116. 6117.0117.3117.2

Food

49.750.152.148.447.1

47.852.261.368.367.4

68.979.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4120.3118.3

118.2118.7120.8121.6121.6121.6

121.7120.7120. 3119.7119.4118.7

119.0118.2117.7117.6117.7118.9

119.4118.3118.7118.4117.9

Commodities less food

All

57.357.960.460.459.4

59.862.769.872.776.7

79.784.795.7

102.9101.5

101.3108.9109.8110.0108.6

107.5108.9112.3113.4115.0

113.5113.2113. 1112.8112.9112.9

113.1113.2113.5113.9114.5114.4

114.0114.2114.4114.5114. 5114.7

115.1115.3115.7116.3116. 5

Dura-bles

53.354.157.558.557.3

56.860.768.971.277.8

83.787.594.9

101.8103. 3

104.4112.4113.8112.6108.3

105.1105.1108.8110.5112.9

110.5110.3109.6109.6109.7109.6

109.8109.9110.3111. 2112.8112.9

112.4112.2112.5112.6112.7112.8

113.1112.8112.8113.6114.1

Non-dura-bles

57.157.659.959.658.7

59.361.868.471.374.9

77.683.395.7

103.1101.1

100.9108.5109.1110.1110.6

110.6113.0116.1116.9118.1

117.0116.7116.9116.6116.5116.7

116.9116.9117.2117.2117.1117.0

116.7117.1117.4117.5117.5117.8

118.1118.6119.3119.8119.8

Services

Allserv-ices

75.676.478.780.380.4

80.681.684.285.887.9

89.090.894.5

100.4105.1

108.5114.1119.3124.2127.5

129.8132.6137.7142.4145.6

140.5141.0141.7142.1142.3142.3

142.6143.0143.0143.1143.4143.5

143.9144.2144.4144.8145.2145.4

145.8146.3146.9147.3147.6

Rent

78.280.183.886.586.6

86.988.490.490.390.6

90.991.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.2137.7139.6

136.8137.0137.1137.3137.5137.7

137.8138.1138.2138.3138.4138.7

138.8139.0139.1139.3139.3139.5

139.6139.8140.0140.4140.5

Allserv-iceslessrent

72.672.272.973.573.5

73.674.577.881.385.2

87.090.294.7

100.1105.2

108.1114.6120.1124.6127.7

130.1133.0138.6143.8147.3

141.7142.3143.1143.5143.8143.8

144.1144.4144.4144.5144.8145.0

145.4145.7145.9146.4146.9147.1

147.5148.1148.7149.1149.5

1 January-November average.


201


MONEY SUPPLY, CREDIT, AND FINANCE

TABLE D-40.—Deposits and currency, 1929-59


End of period

1929 __1930 -19311932193319341935 ..193619371938193919401941 .1942194319441945 .194619471948 _19491950195119521953 -.195419551956195719581959 * ^1958: January

FebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1959: January .FebruaryMarchAprilMayJune _ _July'.August 5

September 5

October 5 _.November 5

December •

Totaldeposits

andcur-

rency

54.753.648.445.442.648.152.757.656.859.964.771.179.1

100.5123.4151.4176.4167.5172.3172.7173.9180.6189.9200.4205. 7214.8221.0226.4232.3247.5251.8227.7228.0230.9234.4234.2239.5237.2238.7238.1240.7243.8247.5245.1242.6242.1245.4245.0245.4247.6247.3248.5248.2247.5251.8

U.S.Gov-ern-

mentde-

posits *

0.2.3.5.5.0.8.5.2.0.8

1.51.12.89.2

11.021.225.63.52.33.64.13.73.95.64.85.14.44.54.74.95.52.94.26.46.06.1

10.04.86.25.04.36.44.95.34.94.45.15.75.3»5.66.67.16.05.15.5

Total excluding U.S. Governmentdeposits 2

Total

54.653.247.944.941.546.351.356.455.858.163.370.076.391.3

112.4130.2150.8164.0170.0169.1169.8176.9186.0194.8200.9209.7216.6222.0227.7242.6246.3224.8223.9224.5228.4228.1229.5232.4232.5233.1236.4237.5242.6239.8237.7237.6240.3239.3240.1242.0240.8241.4242.2242.4246.3

Timede-

posits 3

28.228.726.024.521.723.224.225.426.226.327.127.727.728.432.739.848.554.056.457.558.659.261.565.870.475.378.482.289.198.3

101.489.890.992.593.694.695.596.597.097.297.596.898.398.498.799.599.9

100.4101.0100.9101.2101.5101.1100.3101.4

Demand deposits andcurrency

Total

26.424.621.920.419.823.127.031.029.631.836.242.348.662.979.690.4

102.3110.0113.6111.6111.2117.7124.5129.0130.5134.4138.2139.7138.6144.2145.0135.0133.0132.0134.8133.5134.0135.9135.5135.9139.0140.7144.2141.4139.0138.2140.4138.9139.1141.1139.6139.8141.0142.2145.0

Demanddeposits

ad-justed *

22.821.017.415.715.018.522.125. 524.026.029.834.939.048.960.866.975.983.387.185.585.892.398.2

101.5102.5106.6109.9111.4110.3115.5116.1107.6105.6104.6107.2105.8106.2108.1107.5108.1111.0111.9115.5113.8111.3110.3112.5110.7110.7112.7111.1111.4112.7113.1116.1

Cur-rency

outsidebanks

3.63.64.54.74.84.74.95.55.65.86.47.39.6

13.918.823.526.526.726.526.125.425.426.327.528.127.928.328.328.328.728.827.327.427.427.627.827.827.928.027.928.028.828.727.627.727.927.928.128.328.428.528.528.329.128.8

Demand deposits andcurrency,

seasonally adjusted

Total

132.2138.1134.0135.0135.5135.4137.6137.3136.7138.1158.8139.4138.5139.1140.3140.7140.914C.9142.7Ul-4140.5140.1140.3140.0

Demanddeposits

ad-justed «

104.7105.5106.4107.2107.6107.4109.5109.2108.9110.2110.6111.3110.7111.2112.2112.5112.6112.5114.2112.9112.2111.9111.8111.8

Cur-rency

outsidebanks

27.527.627.627.827.928.028.128.127.827.928.228.127.827.928.128.228.328.428.528.528.328.228.528.2

* Includes U.S. Government deposits at Federal Reserve Banks and commercial and savings banks and,beginning with 1938, includes U.S. Treasurer's time deposits, open account.

2 Includes holdings of State and local governments.3 Includes deposits in commercial banks, mutual savings banks, and Postal Savings System, but ex-

cludes interbank deposits.4 Includes demand deposits other than interbank and U.S. Government, less cash items in process of

collection.8 Preliminary; December estimates by Council of Economic Advisers.NOTE.—Monthly data are for the last Wednesday of the month, except the unadjusted data for December

1958, which are for the call date. All end-of-year figures except 1959 are for call dates.Between January and August 1959, this series was expanded to include data for all banks in Alaska and

Hawaii. In December 1959, demand deposits were reduced as a result of a change in the definition ofsuch deposits.

Detail will not necessarily add to totals because of rounding.Source: Board of Governors of the Federal Reserve System (except as noted).

2O2


TABLE D-41.—Loans and investments of all commercial banks, 1929-59


End of period l

1929— June8

1930— June !1931— June s -1932— June 5 -1933— June5

1934— June fi

19351936193719381939194019411942 .1943 . .--19441945 - -19461947194819491950195119521953 --1954195519561957 .1958195971958* January

FebruaryMarchApril— .MayJuneJulyAugustSeptemberOctoberNovemberDecember

1959: JanuaryFebruaryMarchAprilMay _-JuneJuly 7

August7

September 7

October 7

November 7

December 7 _

Totalloansand

invest-ments

49.448.944.936.130.432.736.139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3114.3120.2126.7132.6141.6145.7155.9160.9165.1170.1185.2191.0167.7168.6171.4175.6175.4179.9177.6180.0179.5181.7184.1185.2185.6183.8182.9185.7185.8185.9187.7188.2187.8188.3188.2191.0

Loans

Total 2

35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.543.052.257.764.267.670.682.690.393.998.2

112.092.092.193.093.592.995.693.693.894.295.096.198.297.797.999.2

101.2102.4104.5105.9107.4107.8108.2109.5112.0

Businessloans 3

(8)(6)(6)

8(6)(«)(«)(•)

5.76.47.39.37.97.98.09.6

14.218.218.917.121.925.927.927.226.933.238.740.540.445.838.838.639.238.438.138.937.938.338.738.939.340.439.239.240.240.641.442.542.843.443.943.844.345.8

Investments

Total

13.714.415.714.314.017.020.923.121.222.323.425.129.048.266.083.997.982.978.271.877.274.474.977.578.185.378.374.876.287.079.075.676.578.482.182.584.384.086.285.386.788.087.087.986.083.884.583.481.581.780.880.080.278.779.0

U. S. Gov-ernment

obligations *

4.95.06.06.27.5

10.313.815.314.215.116.317.821.841.459.877.690.674.869.262.667.062.061.563.363.469.061.658.658.266.458.657.758.359.662.863.164.264.166.164.766.267.766.467.565.563.263.662.660. 961.160.359 259! 658.458.6

Othersecurities

8.79.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2

10.212.413.314.114.716.316.716.317.920.620.417.918.218.919.319.420.119.920.220.620.520.320.620.420.420.620.920.820.620.620.520.720.620.320.4

1 End-of-year (except 1959) and June and December 1958 figures are for call dates. Other data (in-cluding those for June and December 1959) are for the last Wednesday of the month.

2 Data are shown net, i. e., after deduction of valuation reserves. Includes commercial and industrial,agricultural, security, real estate, bank, consumer, and other loans.

3 Beginning with 1948, data are shown gross of valuation reserves, instead of net as for previous years.Prior to June 1947 and for months other than June and December, data are estimated on the basis of reporteddata for all insured commercial banks and for weekly reporting member banks.

* Figures in this table are based on book values and relate only to banks within the United States.Therefore, they do not agree with figures in Table D-49, which are on the basis of par values and includeholdings of banks in United States Territories and possessions.

5 June data are used because complete end-of-year data are not available prior to 1935 for U. S. Govern-ment obligations and other securities.

6 Not available.7 Preliminary; December estimates by Council of Economic Advisers.NOTE.—Between January and August 1959, this series was expanded to include data for all banks in

Alaska and Hawaii.Detail will not necessarily add to totals because of rounding.Source: Board of Governors of the Federal Reserve System (except as noted).

203


TABLE D-42.—Federal Reserve Bank credit and member bank reserves, 1929—59

[Averages of daily figures, millions of dollars]

Period

1929

1930 ...1931.19321933 .1934 . ... ..

19351936193719381939

19401941194219431944 . _

194519461947 .-19481949

1950 -- ---19511952 - - -19531954

19551956195719581959

1958* JanuaryFebruaryMarchAprilMavJune _-

JulyAugustSeptemberOctober _ __NovemberDecember

1959* JanuaryFebruaryMarchAprilMayJune


Reserve Bank credit outstanding

Total

1,459

1,0871,2742,0772,4292,502

2,4752,4812,5542,6002,628

2,4872,2933,4088,182

15, 358

22, 21124, 02922, 98922, 28320, 161

19, 06224, 07024, 80126, 26225,602

25, 47225, 70225, 37325, 98228, 089

25, 22924, 56824, 55924, 68224, 93925, 851

26, 31026, 55426, 54826, 78927, 21128, 412

27, 56427, 05927, 05527, 32327, 66927, 937

28, 44128, 50928, 68728, 56328, 74129, 435

U.S.Govern-ment se-curities

208

564669

1,4612,0522,432

2,4312,4312,5042,5652,584

2,4172,1873,1917,724

14, 772

21,36323,25022, 33021, 51119,560

18, 41022, 75623, 06624, 66124, 646

23, 89123, 70923, 34524, 65426, 194

23, 60823, 37823, 48623, 64923, 93924, 749

25, 21825, 41025, 05125, 29625, 65026, 312

25, 77625, 53225, 44625, 66125, 92025, 963

26, 42226, 58826, 67426, 51726, 73227, 036

Memberbank

borrow-ings

943

27132351823429

76

1494

355

24135

366215156140115

106289780768147

607831837294801

451242138130119142

109252476425486557

556508601676767921

9561,008

903905878906

Allother,mainly

float

308

25228298

14341

3744362640

67101212434451

482564503632486

5461,025

955833809

9741,1621,1911,0321,095

1,170948935903881960

983892

1,0211,0681,0751,543

1,2321,0191,007

986982

1,053

1,062914

1,1101,1411,1311,493

Member bank reserves

Total

2,358

2,3792,3232,1142,3433,676

5,0015,9896,8307,935

10, 352

13, 24913, 40412, 64812, 62613, 222

15, 05515, 96916, 46118, 00117, 774

16,40019, 29320, 35619, 99619, 276

18, 84318, 96519, 02118, 647

2318,611

19, 29619,00018, 73018, 39418, 22318,600

18,60918, 58018, 42518, 47618, 54018, 899

18, 89318, 57718, 42918, 66418,58018, 451

18, 67118, 61318, 59318, 61018, 621

2318,951

Re-quired

2,315

2,3242,2341,858

11,815i 2, 112

2,5323,4775,6105,4135,960

6,9238,0809,980

11,11612, 176

13, 93414, 99315,60817, 16416, 952

15,61718, 53619, 64219, 31918,501

18, 25718,40318,50718, 056

3 18, 164

18, 72318, 43418, 09717,77217, 55717, 974

17, 95317, 94617, 85417, 95518, 03418, 383

18, 39618, 11717, 96818, 24718, 13218, 043

18, 27118, 14118, 18318, 16418, 176

318,456

Excess

43

5589

256i 528

i 1, 564

2,4692,5121,2202,5224,392

6,3265,3242,6681,5101,046

1,121976853837822

783757714677775

586562514591

3447

573566633622666626

656634571521506516

497460461417448408

400472410446445

3495

Memberbankfree

reserves(excess re-serves less

borrow-ings)

-900

-216-234-262

2941,535

2,4622,5061,2062,5134,388

6,3235,3192,6631,486

911

755761697697707

677468

-66-91628

-21-269-320

2983 -354

122324495493547484

546383959620

-41

-59-47

-140-258-318-513

-557-535-493-459-433

3 _4U

i Data from March 1933 through April 1934 are for licensed banks only.2 Includes vault cash allowed, which averaged $323 million in December.8 Preliminary.NOTE.—Detail will not necessarily add to totals because of rounding.


204


TABLE D-43.—Bond yields and interest rates, 1929-59

[Percent per annum]

Period

1929

19301931 - - -193219331934

193519361937 -19381939 .

1940 - -194119421943 . ..1944

194519461947 .-19481949

19501951 _ _ ...195219531954

19551956195719581959



U.S. Governmentsecurities

1-monthTreas-

urybills i

(4)

(«)1.402.879.515.256

.137

.143

.447

.053

.023

.014

.103

.326

.373

.375

.375

.375

.5941.0401.102

1.2181.5521.7661.931.953

1.7532.6583.2671.8393.405

3.2103.1653.1403.1133.0423.316

3.1653.4043.5783.5913.3373.102

9-12monthissues 2

(5)

(5)(5)(5)(5)(5)

(5)(5)(*)(5)(5)

(5)(5)(5).75.79

.81

.82

.881.141.14

1.261.731.812.07.92

1.892.833.532.094.11

3.173.233.353.413.373.55

3.713.934.023.943.523.09

Taxablebonds 3

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.473.434.08

3.343.223.263.323.403.58

3.603.633.663.733.573.30

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

3.773.673.663.673.743.91

3.994.104.124.104.083.81

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

4.494.474.434.444.524.63

4.734.824.934.995.095.03

Commonstock

yields,200

stocks(Moody's)

3.41

4.546.177.364.334.11

4.063.504.774.384.15

5.316.256.604.894.81

4.193.975.135.786.63

6.276.125.505.494.78

4.064.074.334.053.31

4.314.444.354.164.054.05

4.014.214.504.684.584.77

High-grade

munic-ipal

bonds(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

3.403.263.323.333.523.75

3.753.913.903.793.763.47

Averagerate onshort-termbankloans

to busi-ness —

selectedcities

(6)

(6)(6)(6)(6)(6)

(6)(9)(•)(6)2.1

2.12.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.64.35.0

4.38

4.40

4.83

4.85

Primecom-mer-cial

paper,4-6

months

5.85

3.592.642.731.731.02

.75

.75

.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

3.633.633.633.633.633.79

3.883.984.004.104.073.81

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.001.001.001.00

1.001.001.001.341.50

1.591.751.751.991.60

1.892.773.122.163.36

3.003.003.003.003.003.00

3.003.153.503.503.233.00


205


TABLE D-43.—Bond yields and interest rates, 1929-59—Continued

[Percent per annum]

Period

1958: January - -FebruaryMarchAprilMayJune .-

JulyAugustSeptemberOctober.NovemberDecember


JulyAugust _- _- _September.OctoberNovember _ _ _December

U.S. Governmentsecurities

3-monthTreas-

urybills i

2.5981.5621.3541.1261.046.881

.9621.6862.4842.7932.7562.814

2.8372.7122.8522.9602.8513.247

3.2433.3583.9984.1174.2094.572

9-12monthissues 2

2.561.931.771.351.21.98

1.342.142.842.832.923.24

3.263.383.563.663.923.97

4.304.324.804.654.704.98

Taxablebonds 3

3.243.283.253.123.143.20

3.363.603.753.763.703.80

3.913.923.924.014.084.09

4.114.104.264.114.124.27

Corporatebonds

(Moody's)

Aaa

3.603.593.633.603.573.57

3.673.854.094.114.094.08

4.124.144.134.234.374.46

4.474.434.524.574.564.58

Baa

4.834.664.684.674.624.55

4.534.674.874.924.874.85

4.874.894.854.864.965.04

5.085.095.185.285.265.28

Commonstock

yields,200

stocks(Moody's)

4.564.624.504.354.274.15

3.973.913.723.643.543.34

3.363.413.433.293.253.28

3.183.193.343.363.383.28

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

3.323.373.453.313.253.26

3.453.743.963.943.843.84

3.873.853.763.843.974.04

4.043.964.133.993.944.05

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

4.49

4.17

4.21

4.50

4.51

4.87

85.27

85.36

Primecom-mer-cial

paper,4-6

months

3.492.632.331.901.711.54

1.501.962.933.233.083.33

3.303.263.353.423.563.83

3.983.974.634.734.674.88

Fed-eralRe-

serveBankdis-

countrate

2.942.752.352.03.75.75

.75

.75

.912.002.402.50

2.502.502.923.003.053.50

3.503.503.834.004.004.00

1 Rate on new issues within period. Issues were tax exempt prior to March 1,1941, and fully taxablethereafter. For the period 1934-37, series includes issues with maturities of more than 3 months.

2 Includes certificates of indebtedness and selected note and bond issues (fully taxable).3 First issued in 1941. Series includes: April 1953 to date, bonds due or callable 10 years and after; April1952-March 1953, bonds due or callable after 12 years; October 1941-March 1952, bonds due or callableafter 15 years.

4 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.8 Not available before August 1942.6 Not available on same basis as for 1939 and subsequent years.7 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for ad-

vances secured by Government securities maturing or callable in 1 year or less.s Series revised to exclude loans to nonbank financial institutions.NOTE.—Yields and rates computed for New York City, except for short-term bank loans.Sources: Treasury Department, Board of Governors of the Federal Reserve System, Moody's Investors

Service, and Standard & Poor's Corporation.

2O6


TABLE D-44.—Short- and intermediate-term consumer credit outstanding, 1929-59

[Millions of dollars]

End of period

1929

19301931193219331934

1935 .193619371938 _1939

1940194119421943 .1944

19451946194719481949

19501951 _195219531954

195519561957 - - .-19581959 5


JulyAugustSeptemberOctober _ _ _NovemberDecember . ___

1959: JanuaryFebruary .._MarchAprilMayJune - _

JulyAugust . -.-SeptemberOctoberNovember -December 5

Total

6,444

5,7674,7603,5673,4823,904

4,9116,1356,6896,3387,222

8,3389,1725,9834,9015,111

5,6658,384

11, 59814, 44717,364

21, 47122,71227, 52031, 39332,464

38, 88242, 51145, 28645, 58652,200

44, 40143, 48442, 97043, 12143, 43343, 577

43, 49543, 67943, 65643, 69643, 97045, 586

45, 09444, 74844, 92545, 70846,60347, 522

48, 04748, 84149,35049, 87250, 37952,200

Instalment credit

Total

3,151

2,6872,2071,5211,5881,871

2,6943,6234,0153,6914,503

5,5146,0853,1662,1362,176

2,4624,1726,6958,996

11, 590

14, 70315, 29419, 40323,00523, 568

28, 95831, 89734, 18334, 08039, 650

33, 81233, 38433, 06233, 01933, 05133, 158

33, 23833, 33533, 24633, 23233, 32234, 080

34, 02934, 02534, 23434, 76235, 35736, 135

36, 75737, 51037, 96238, 42138, 72339,650

Auto-mobilepaper 1

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,497

2,0712,458

742355397

455981

1,9243,0184,555

6,0745,9727, 7339,8359,809

13, 47214, 45915, 40914, 23716, 750

15, 24615, 05214, 82614, 73314, 66314, 650

14, 63614, 59214, 41514, 25414, 16414, 237

14, 27114, 33914, 49414, 81015, 12815, 566

15, 92316,28816, 47016, 65916, 66916,750

Othercon-

sumergoods

paper 1

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,620

1,8271,9291,195

819791

8161,2902,1432,9013,706

4,7994,8806,1746,7796,751

7,6348,5808,7828,923

10, 300

8,5708,3328,2248,1538,1758,191

8,1888,2268, 2588,3458,4528,923

8,8338,7278,6918,7558,8879,040

9,1349,2899,3909,5349,687

10, 300

Repairand

modern-izationloans 2

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)298

371376255130119

182405718853898

1,0161,0851,3851,6101,616

1,6891,8952,0892,3502,700

2,0842,0712,0662,0792,1192,145

2,1742,2212,2592,2982,3342,350

2,3302,3242,3382,3642,4192,467

2,5172,5692,6132,6532,6832,700

Per-sonalloans

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,088

1, 2451,322

974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,392

6,1636,9637,9038,5709,900

7,9127,9297,9468,0548,0948,172

8,2408,2968,3148,3358,3728,570

8,5958,6358,7118,8338,9239,062

9,1839,3649,4899,5759,6849,900

Noninstalment credit

Total

3,293

3,0802,5532,0461, 8942,033

2,2172,5122,6742,6472,719

2,8243,0872,8172,7652,935

3,2034,2124,9035,4515,774

6,7687,4188,1178,3888,896

9,92410, 61411, 10311,50612, 550

10, 58910,1009,908

10, 10210, 38210, 419

10, 25710, 34410, 41010, 46410,64811,506

11, 06510, 72310, 69110, 94611, 24611, 387

11, 29011, 33111, 38811,45111, 65612, 550

Chargeac-

counts

1,602

1,4761,2651,020

9901,102

1,1831,3001,3361,3621,414

1,4711,6451,4441,4401,517

1,6122,0762,3812,7222,854

3,3673,7004,1304,2744,485

4.7954,9955,1465,0605,300

4,5974,0243,8273,9994,2044,202

4, 1144,1364,1904,2994,3705,060

4,6194,0984,0044,1604,3594,446

4,4074,3654,3904,5254,6145,300

Other 3

1,691

1,6041,2881,026

904931

1,0341,2121,3381,2851,305

1,3531,4421,3731,3251,418

1,5912,1362,5222,7292,920

3,4013,7183,9874,1144,411

5,1295,6195,9576,4467,250

5,9926,0766,0816,1036,1786,217

6,1436,2086,2206,1656,2786,446

6,4466,6256,6876,7866,8876,941

6,8836,9666,9986,9267,0427,250

1 Includes all consumer credit extended for the purpose of purchasing automobiles and other consumergoods and secured by the items purchased.

2 Includes only such loans held by financial institutions; those held by retail outlets are included in "otherconsumer goods paper."

3 Single-payment loans and service credit.4 Not available.8 Preliminary estimates by Council of Economic Advisers.NOTE.—Series revised beginning 1947. For details, see Federal Reserve Bulletin, November 1959.Data for Alaska and Hawaii included beginning January and August 1959, respectively.

Source: Board of Governors of the Federal Reserve System (except as noted).

207


TABLE D-45.—Instalment credit extended and repaid, 1946-59


Period

19461947..19481949

1950195139521953___195419551956195719581959 *

1958: January.FebruaryMarch..AprilMayJune.JulyAugustSeptemberOctoberNovemberDecember

1959: JanuaryFebruaryMarch _AprilMayJuneJuly _AugustSeptemberOctoberNovemberDecember i _ _ _

1958: JanuaryFebruaryMarch _. _AprilMay ._June.JulyAugust -.SeptemberOctoberNovemberDecember

1959- JanuaryFebruaryMarchApril . _MayJuneJulyAugustSeptemberOctoberNovemberDecember *

Total

Ex-tended

8,49512, 71315, 58518, 10821, 55823, 57629, 51431, 55831, 05139, 03940, 17542, 54540, 81848, 500

Re-paid

6,78510, 19013, 28415, 51418, 44522, 98525, 40527, 95630, 48833, 64937, 23640, 25940, 92143, 150

Automobilepaper

Ex-tended

1,9693,6925,2176,9678,, 5308,956

11,76412, 98111, 80716, 74515, 56316, 54514, 31618, 100

Re-paid

1,4432,7494,1235,4307,0119,058

10, 00310, 87911, 83313, 08214, 57615, 59515, 48815, 700

Other consumergoods paper

Ex-tended

3,0774,4985,3835,8657,1507,4859,1869,2279,117

10, 63411, 70211, 74711, 63813, 500

Re-paid

2,6033,6454,6255,0606, 0577,4047,8928,6229,1459,751

10, 75611,54511,49712, 200

Repair andmodernization

loans

Ex-tended

423704714734835841

,217,344,261

,3S8,568,660,890

2,100

Re-paid

200391579689717772917

,119,255,315,362,466,629,750

Personalloans

Ex-tended

3,0263,8194,2714,5425,0436,2947,3478,0068,866

10, 27211,34212, 59312, 97414, 800

Re-paid

2,5393,4053,9574,3354,6605,7516,5937,3368,2559,501

10, 54211,65312, 30713,500

Unadjusted

3,1112,7603,1823,3583,3973,4973,5063,4073,3133, 5203,3744,3933,3693,2903,8304,0734,0924,4544,3154, 1934,0614,1853,9284,850

3,4823,1883,5043,4013,3653,3903,4263,3103,4023,5343,2843,6353,4473,2943,6213,5453,4973,6763,6933,5783,6093,7263,6263,950

1,1871,0251,1051,2241,2131,2711,2941,2091,1181,1891,1031,3781,2541,2661,4911, 5981,5801,7801,7201,6271,5151,5641,3131,450

1,3501,2191, 3311,3171,2831,284

1,3081, 2531, 2951,3501.1931,305

1,2311,1981,3361,2821,2621,3421,3631,3181,3331,3751,3031,400

788703899867993959944957970

1,0751, 0501,433

925860995

1,0901,1281,1731,1091,1231,1231,1981,1721,650

1,000941

1,007938971943947919938988943962

1,023966

1,0311,026

9961,0201,015

9931,0221,0541,0191,050

124111129148166166169176186187169159120126157173198195197199191190175150

129124134135126140140129148148133143141132143147143147147151147150145150

1,012921

1,0491,1191,0251,1011,0991,0651,0391,0691, 0521,4231,0701,0381, 1871,2121,1861,3061,2891,2441,2321,2331,2681,600

1,003904

1,0321,011

9851,0231,0311,0091,0211,0481,0151,2251,052

9981,1111,0901,0961,1671,1681,1161,1071,1471,1591,350

Seasonally adjusted

3,5053,2323,2183,2813,2893,2933,3703,4223,3553,4813,6153,7573,8623,8493,8023,9814,1054,0244,1524,1284,1644,2124,0764,100

3,4443,3993,3943,3963,3593,391

3,3703,4143,3943,4503,4683,4423,4603,5103,4583,5413,6293,5443, 6373,6353,6623,7003,7013,700

1,3411,1831,0741,1621,1241,110

1,1631,1571,0941,2031,2741,431

1,4451,4651,4311,5241,5301,5051,5541,5351,5171,6191,4631,500

1,3571,3111,2941,3301,2911,282

1,2811,2821,2541,2881,2481,2701,2591,2891,2771,2961,3181,2901,3341,3251,3161,3411,3111,300

927872983914987964

973988987

1,0061,0371,000

1,1011,0641,0741,1441,1581,129

1,1521,1371,1371,1231,1311,150

950968971926950952941944951974

1,008962

980992986

1,0141,015

994

,012,012,046,051,070,050

157141141150155154

157166168169170162

156157168175190177183185174173171150

126131131137127142

139132145143135141

140139138149149145146152147147142150

1,0801,0361,0201,0551,0231,0651,0771,1111,1061,1031,1341,164

1,1601,1631,1291,1381,2271,213

1, 2631,2711,3361,2971,3111,300

1,011989998

1,003991

1,0151,0091,0561,0441,0451,0771,0691,0811,0901,0571,0821,1471,1151,1451,1461,1531,1611,1781,200

i Preliminary; December by Council of Economic Advisers.NOTE.—See also Table D-44.Series revised beginning June 1956. For details, see Federal Reserve Bulletin, November 1959.Data for Alaska and Hawaii included beginning January and August 1959, respectively. Therefore the

difference between extensions and repayments for January and August 1959 and for the year 1959 do notequal the net change in credit outstanding.

Source: Board of Governors of the Federal Reserve System (except as noted).

208


TABLE D-46.—Mortgage debt outstanding, by type of property and of financing, 1939-59


End of period

1939

19401941 __ .194219431944

194519461947 -.19481949

19501951 _195219531954

195519561957 __19581959 3

1957: First quarter. _ .Second quarterThird quarterFourth quarter

1958* First quarterSecond quarter —Third quarter .__ _Fourth quarter

1959: First quarter 3

Second quarter 3

Third quarter 3

Fourth quarter 3

Allprop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.6171.9191.2

147.3150.4153.7156.6

159.1162.8167.1171.9

175.9181.4186.6191.2

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.9

137.2140.1143.3146.1

148.5151 9156.1160.7

164.4169.5174.5178.9

1- to 4-family houses

Total

16.3

17.418.418.217.817.9

18.623.028.233.337.6

45.251.758.566.175.7

88.299.0

107.6117.7131.0

101.1103.4105.7107.6

109.1111.5114.5117.7

120.5124.4128.0131.0

Government under-written

Total

1.8

2.33.03.74.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.250.154.0

45.145.946.547.2

47.748.349.150.1

51.352.153.154.0

FHAin-

sured

1.8

2.33.03.74.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.519.723.9

15.715.916.116.5

17.117.718.619.7

20.921.822.923.9

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730.430.1

29.430.030.430.7

30.630.630.530.4

30.430.330.230.1

Con-ven-

tional l

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

55.957.559.260.4

61.463.265.467.6

69.272.374.977.0

Multi-family

andcom-

mercialprop-

erties 2

12.5

12.612.912.512.111.8

12.213.815.717.619.5

21.623.925,727.529.7

32.635.638.543.047.9

36.236.737.638.5

39.340.441.543.0

43.945.246.547.9

Farmprop-erties

6.6

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.37.88.3

9.19.9

10.511.212.3

10.110.310.410.5

10.610.911.111.2

11.511.812.112.3

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary; fourth quarter by Council of Economic Advisers.


Source: Board of Governors of the Federal Reserve System, estimated and compiled from data suppliedby various Government and private organizations (except as noted).

2O9


TABLE D-47.—Net public and private debt, 1929-59 l


End ofperiod 2

1929

193019311932 _19331934

19351936193719381939

19401941 . . .19421943 ..1944

19451946194719481949

19501951195219531954

195519561957195819598

Total

190.9

191.0181.9174.6168.5171.4

174.7180.3182.0179.6183.2

189.9211. 6259.0313.6370.8

406.3397.4417.4433.6448.4

490.3524.0555.2586.4611.8

672.2707.2736.0770.2827.6

Fed-eralGov-ern-

ment

16.5

16.518.521.324.330.4

34.437.739 240'.542.6

44.856.3

101.7154.4211.9

252.7229.7223.3216. 5218.6

218.7218.5222.9228.1230.2

231.5225.4224.4232.7243.0

Stateandlocalgov-ern-

ment2

13.2

14.115.516.616.715.9

16.016.216.116.016.3

16.516.315.814.914.1

13.713.614.416.218.1

20.723.325.828.633.4

38.442.746.750.955.6

Private

Total

161.2

160.4147.9136.7127.5125.1

124.2126.4126.7123.1124.3

128.6139.0141.5144.3144.8

139.9154.1179.7200.9211.7

250.9282.2306.5329.7348.2

402.3439.1464.9486.6529.0

Corporate

Total

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

212.1231.7243.9246.9263.5

Long-term

47.3

51.150.349.247.944.6

43.642.543.544.844.4

43.743.642.741.039.8

38.341.346.152.556.5

60.166.673.378.382.9

90.0100.1111.5119.5125.5

Short-term

41.6

38.233.230.829.130.9

31.233.532.328.429.2

31.939.849.054.554.3

47.052 262.865.361.5

81.995.997.7

101.2100.0

122.2131.7132.3127.5138.0

Individual and noncorporate

Total

72.3

71.164.456.750.649.6

49.450.350.949.860.8

53.055.649.948.850.7

54.660 670.883.193.7

108.8119.7135.5150.2165.4

190.2207.3221.0239.7265.5

Farm'

12.2

11.811.110.19.18.9

9.08.68.69.08.8

9.19.28.98.27.7

7.27.68.6

10.811.9

12.213.615.116.917.6

18.819.520.323.324.5

Nonfarm

Total

60.1

59.453.346.641.540.7

40.441.742.340.942.0

43.946.441.040.543.0

47.453 062.272.381.8

96.6106.1120.3133.3147.8

171. 4187.8200.8216.5241.0

Mort-gage

31.2

32.030.929.026.325.5

24.724.424.324.525.0

26.027.226.826.226.1

27.032 538.745.150.6

59.467.475.283.894.7

108.8121.2131.6144.4160.5

Com-mer-cialand

finan-cial *

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.8

14.812.111.912.913.9

15.816.117.818.420.8

24.024.424.427.029.0

Con-sumer

6.4

5.84.83.63.53.9

4.96.16.76.37.2

8.39.26.04.95.1

5.78.4

11.614.417.3

21.422.627.431.232.3

38.742.144.845.151.5

1 Net public and private debt outstanding is a comprehensive aggregate of the indebtedness of borrowersafter elimination of certain types of duplicating governmental and corporate debt. For a further explana-tion of the concept, see Survey of Current Business, October 1950.

2 Data for State and local government debt are for June 30.3 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.« Preliminary estimates by Council of Economic Advisers.

NOTE.—Revisions beginning 1947 in the consumer credit data of the Board of Governors of the FederalReserve System have not yet been incorporated into this series.

Detail will not necessarily add to totals because of rounding.Sources: Department of Agriculture, Department of Commerce, Treasury Department, Board of Gov-

ernors of the Federal Reserve System, Federal Savings and Loan Insurance Corporation, and InterstateCommerce Commission (except as noted).

210


GOVERNMENT FINANCE

TABLE D-48.—U. S. Government debt, by kind of obligation, 1929-59


End of period

192919301931193219331934193519361937 _.193819391940194119421943 ...194419451946194719481949 - .--195019511952 .19531954 _19551956 - -- -1957195819591958: January


1959: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember __.OctoberNovemberDecember

Grosspublic

debt andguar-

anteedissues i

16.316.017.820.824.031.535.139.141.944.447.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9274.7274.8272.7275.2275.7276.4275.6278.6276.8280.3283.2283.0285.9285. 2282.2285. 5286.4284.8288.8290.5288.4291.4290.7290.9

Interest -bearing public debt

Marketable publicissues

Short-term

issues 2

3.32.92.85.97.5

11.114.212.512.59.87.77.58.0

27.047.169.978.257.147.745.950.258.365.668.777.376.081.379.582.192.2

103.582.578.175.278.378.375.775.881.681.986.489.692.295.695.192.195.896.193.298.299.698.2

102.6102.1103.5

Treasurybonds

11.311.313.513.414.715.414.319.520.524.026.928.033.449.367.991.6

120.4119.3117.9111.4104.894.076.979.877.281.881.980.882.183.484.882.186.387.787.787.690.990.587.685.785.785.783.484.184.284.284.884.884.884.884.884.884.884.884.8

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01.42.23.26.1

15.027.440.448.249.852.155.156.758.057.657.957.757.757.956.352.551.248.252.352.352.352.252.152.051.951.951.851.751.751.251.051.051.050.850.750.550.250.049.749.449.348.2

Treasurytax andsavingsnotes

2.56.48.69.88.25.75.44.67.68.67.55.86.04.5

(5)

8%COCO(•)CO(6)CO(6)(8)(6)COCOCOCOCOCO(«)COCOCOCOCOCOCOCO

Invest-ment

bonds 3

1.01.01.01.0

13.013.412.912.712.311.610.39.07.6

10.210.19.89.79.79.69.59.39.29.19.19.08.98.88.78.58.48.48.38.38.17.87.77.6

Specialissues *

0.6.8.4.4.4.6.7.6

2.23.24.25.47.09.0

12.716.320.024.629.031.733.933.735.939.241.242.643.945.645.844.843.545.546.045.845.446.146.245.946.346.045.445.144.843.943.943.943.344.244.844.144.744.443.643.643.5

1 Total includes non-interest-bearing debt, fully guaranteed securities (except those held by the Treas-ury), Postal Savings bonds, prewar bonds, adjusted service bonds, depositary bonds, and armed forcesleave bonds, not shown separately. Not all of total shown is subject to statutory debt limitation.

2 Bills, certificates of indebtedness, and notes.* Series A bonds and, beginning April 1951, Series B convertible bonds.* Issued to U. S. Government investment accounts. These accounts also held $10.1 billion of public

marketable and nonmarketable issues on December 31,1959.« Less than $50 million.* The last series of Treasury savings notes matured in April 1956.

Source: Treasury Department.

211


TABLE D—49.—Estimated ownership of Federal obligations, 1939—59

[Par values,i billions of dollars]

End of period

1939194019411942194319441945 - -. .194619471948194919501951 . .195219531954195519f61957195819591958: January


1959: JanuaryFebruaryMarchAprilMay -_ -JuneJulyAugustSeptemberOctoberNovember 8 _ _ _December 8 . . _

Gross public debt and guaranteed issues 2

Total

47.650.964.3

112.5170.1232.1278.7259. 5257. 0252.9257.2256. 7259.5267.4275. 2278.8280.8276.7275.0283.0290.9274.7274.8272.7275. 2275. 7276.4275.6278.6276.8280.3283.2283.0285.9285.2282.2285.5286.4284.8288.8290.5288.4291.4290.7290.9

Heldby U.S.

Gov-ern-

mentinvest-ment

ac-counts

6.57.69.5

12.216.921.727.030.934.437.339.439.242.345.948.349.651.754.055.254.453.755.155.455.455.255.855.955.656.055.655.154.854.453.553.653.753.154.254.654.154.654.253.653.853.7

Held by others

Total

41.143.354.7

100.2153.2210.5251.6228.6222.6215.5217.8217. 5217.2221.6226.9229.2229.1222.7219.8228.6237.3219.6219.4217.4220.0220.0220.5220.0222.6221.2225.3228.4228.6232.4231.6228.4232.4232.2230.2234.7235.9234.2237.8236.9237.3

FederalReservebanks

2.52.22.36.2

11.518.824.323.322.623.318.920.823.824.725.924.924.824.924.226.326.623.323.223.623.724.225.424.525.325.025.426.226.325.725.325.525.725.926.026.526.726.626.626.926.6

Com-mercialbanks 3

15.917.321.441.159.977.790.874.568.762.566.861.861.663.463.769.262.069.559.567.559.359.059.959.963.764.065.365.366.865.867.068.067.568.266.363.264.763.261.361.860.860.060.459.059.3

Mutualsavingsbanksand in-surance

com-panies

9.410.111.915.821.228.034.736.735.932.731.529.626.325.525.124.123.121.320.219.919.320.220.120.019.919.719.719.820.020.020.020.119.920.320.120.020.020.019.919.920.019.919.619.419.3

Othercorpora-tions *

2.22.04.0

10.116.421.422.215.314.114.816.819.720.719.921.519.223.519.117.218.223.418.017.816.015.215.313.914.515.315.016.818.018.219.820.219.520.921.420.021.822.821.322.923.223.4

Stateandlocal

govern-ments 8

0.4.5.7

1.02.14.36.56.37.37.98.18.89.6

11.112.714.415.116.117.016.717.517.317.317.317.117.016.916.916.816.716.816.716.717.016.916.816.916.816.717.017.217.317.417.417.5

Individ-uals 6

10.110.613.623.737.653.364.164.265.765.566.366.364.665.264.863.465. 065.765.163.569.265.465.265.264.764.564.263.963.563.463.563.463.564.665.366.266.566.766.867.267.768.369.169.169.2

Miscel-laneousinves-tors?

0.7.7.9

2.34.47.09.18.18.48.99.4

10.510.611.713.213.915.616.116.516.521.916.215.915.415.715.415.215.014.915.315.816.016.516.717.317.217.818.219.420.420.621.021.721.921.9

1 United States savings bonds, series A-F and J, are included at current redemption value.2 Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutory

debt limitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and

Territories and possessions; figures exclude securities held in trust departments. Since the estimates in thistable are on the basis of par values and include holdings of banks in United States Territories and possessions,they do not agree with the estimates in Table D-41, which are based on book values and relate only to bankswithin the United States.

4 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, and investments of foreign balances and international accounts in this country. Beginningwith December 1946, the foreign accounts include investments by the International Bank for Reconstruc-tion and Development and the International Monetary Fund in special non-interest-bearing notes issuedby the U.S. Government. Beginning with June 30, 1947, includes holdings of Federal land banks.

8 Preliminary estimates by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Treasury Department (except as noted).

212


TABLE D-50.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1952-59

End of period

Fiscal year:19521953195419551956 - -

19571958 _1959 . .

1958' January _FebruaryMarch _AprilMay _ _ _June


1959* JanuaryFebruaryMarch _AprilMayJune


Amountout-

standing

Maturity classes

Within1 year

I t o 5years

5 to 10years

10 to 20years

20 yearsandover

Millions of dollars

140, 407147, 335150, 354155, 206154, 953

155, 705166, 675178, 027

164, 627164, 483162, 898165, 974165, 988166, 675

166, 391169, 233167, 728172, 153175, 364175, 586

179, 816179, 308176, 293180, 709180, 993178, 027

183, 057184, 463183, 057187, 433186, 957188, 269

46, 36765, 27062, 73449, 70358, 714

71, 95267, 78272, 958

75, 69074, 97972, 62471, 72975, 53867, 782

67, 79770, 47768, 89672, 11776, 50672, 616

73, 21071, 19168,02570, 11575, 95472,958

77, 97075, 15873, 65675, 83677, 94779, 941

47, 81436, 16129, 86639, 10734, 401

40, 66942, 55758, 304

48, 03743,04742, 32246, 29942, 51442, 557

42, 63949, 55949, 64350, 85448, 19553, 803

56,65061, 98662, 11763, 81158,26558,304

58,33162, 55662, 66064,86462, 28461, 609

13, 93315, 65127, 51534, 25328,908

12, 32821, 47617, 052

8,86812, 70914, 20614, 20614, 20621, 476

21, 10114, 34714, 34714, 34715, 83217, 167

17, 16713, 31213, 31213, 31113, 31117, 052

17, 05217, 05117, 05118, 32618, 32522, 139

25, 70028, 66228, 63428, 61328, 578

26, 40727, 65221, 625

27,68427, 67827, 67227, 66527, 65827, 652

27, 64727,64227, 63327, 62727, 62324, 793

24, 78624, 77924, 77125, 38325, 37521, 625

21, 61721,61121,60420, 32120, 31616, 494

6,5941,5921,6063,5304,351

4,3497,2088,088

4,3476,0696,0746,0746,0737,208

7,2087,2087,2077,2077,2077,206

8,0048,0398,0688,0898,0888,088

8,0888,0878,0878,0868,0858,085

Average length

Years

55555

454

445445

555444

444444

444444

Months

846

104

937

6110

11103

211

1199

899877

565444

NOTE.—All issues classified to final maturity except partially tax-exempt bonds, which are classifiedto earliest call date.

Source: Treasury Department.

213


TABLE D-51.—Federal budget receipts and expenditures and the public debt, 1929—61


Period

Fiscal year:1929

19301931193219331934 - _ . . .

1935 .1936193719381939

19401941194219431944 _ _

19451946 _ - - .194719481949 _ _

19501951..195219531954 -_ _ . ___

1955..19561957 .-.19581959 . ...

1960 319613. _

Calendar year:19461947 . -19481949

1950 _.19511952 . _ _ . ._19531954

195519561957... .-19581959

Net budgetreceipts *

3,861

4,0583 1161,9242 0213 064

3,7304 0694 9795,6154 996

5 1447,103

12 55521, 98743,635

44 47539, 77139 78641 48837, 696

36, 49547, 56861, 39164,82564, 655

60,39068, 16571,02969 11768, 270

78, 60084, 000

38 56840, 38940, 86437, 514

37, 30652, 97964, 84063,84161,171

63,35870, 99472, 28468,694

< 73, 282

Budget ex-penditures

3,127

3,3203 5774,6594 6236,694

6,5218 4937,7566,7928 858

9,06213, 26234 04679, 40795, 059

98, 41660,44839 03233, 06939,507

39, 61744, 05865, 40874, 27467, 772

64, 57066, 54069, 43371, 93680, 697

78,38379, 816

41, 08037, 95535, 62341, 106

37, 72856, 33770,68272, 99764,854

66,12967, 21671, 69275, 782

4 80, 322

Surplus ordeficit (-)

734

738—462

—2, 735—2 602—3,630

-2, 791—4 425—2, 777-1, 177—3, 862

—3, 918-6, 159

—21, 490-57, 420-51, 423

—53, 941-20, 676

7548,419

-1,811

-3, 1223,510

-4, 017-9, 449-3, 117

-4, 1801,6261,596

-2, 819-12,427

2174,184

—2, 5122,4345,241

-3, 592

-422-3, 358-5, 842-9, 157-3, 683

-2, 7713,779

592-7, 088* 7, 040

Public debtat end of

year 2

16, 931

16, 18516 80119, 48722 53927, 053

28, 70133 77936, 42537, 16540, 440

42,96848, 96172, 422

136, 696201, 003

258, 682269, 422258, 286252, 292252, 770

257, 357255, 222259, 105266, 071271, 260

274, 374272, 751270, 527276, 343284, 706

284, 500280, 000

259, 149256, 900252, 800257, 130

256, 708259, 419267, 391275, 168278, 750

280, 769276, 628274, 898282, 922290, 798

1 Gross receipts less refunds of receipts and transfers of tax receipts to the old-age and survivorsinsurance trust fund, the disability insurance trust fund, the railroad retirement account, and the highwaytrust fund.2 Excludes guaranteed obligations; therefore, differs from total shown in Tables D-48 and D-49. Thechange in the public debt from year to year reflects not only the budget surplus or deficit but also change?in the Treasury's cash balances, the effect of certain trust fund transactions, and direct borrowing from thepublic by certain Government enterprises.

3 Estimate.4 Preliminary; subject to minor changes.NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Treasury Department and Bureau of the Budget (except as noted).

214


TABLE D-52 —Federal budget receipts by source and expenditures by Junction, fiscal years 1946-61


Fiscalyear

1946194719481949

19501951195219531954

19551956195719581959

1960 3. _.19613...

Budget receipts by source

Total

39, 77139, 78641, 48837, 696

36, 49547, 56861, 39164, 82564, 655

60, 39068, 16571, 02969, 11768, 270

78,60084,000

Indi-vidualincometaxes

16, 15717,83519, 30515, 548

15, 74521, 64327, 91330, 10829, 542

28, 74732, 18835, 62034, 72436, 719

40, 30643, 706

Corpo-rationincometaxes

11,8338,5699,678

11, 195

10, 44814, 10621, 22521, 23821, 101

17, 86120, 88021, 16720, 07417, 309

22, 20023, 500

Excisetaxes

6,9997,2077,3567, 502

7,5498,6488,8519,8689,945

9,1319,9299, 0558,6128,504

9,1009,523

Allother

re-ceipts i

4,7826,1755,1503,451

2,7523,1713,4023,6104,067

4,6505,1695,1875,7085,739

6,9947,271

Budget expenditures by function

Total

60, 44839, 03233, 06939, 507

39,61744, 05865, 40874, 27467, 772

64, 57066, 54069, 43371, 93680, 697

78, 38379, 816

Majorna-

tionalsecurity

43, 17614, 36811, 77112, 908

13,00922, 44443, 97650, 36346,904

40, 62640, 64143, 27044, 14246, 426

45, 65045, 568

Veter-ans'serv-ices

bene-fits

4,4157,3816,6536,725

6,6465,3424,8634,2984,256

4,4574,7564,7935,0265,174

5,1575,471

Agri-<->nlcul-tureandagri-

cultur-al re-

sources

7471,243

5752,512

2.783650

1,0452,9362,557

4,3884,8674,5254,3896,529

5,1135,623

Inter-est

4,8165,0125,2485, 445

5,8175,7145,9346,5836,470

6,4386,8467,3087,6897,671

9,3859,585

Allother

expend-itures 2

7,29411, 0268,821

11,917

11, 3619,9079,590

10, 0947,584

8,6629,4299, 537

10, 68914, 897

13, 07813, 569

Budgetsurplusor defi-cit (-)

-20, 676754

8,419-1,811

-3, 1223,510

-4, 017-9, 449-3, 117

—4, 1801,6261,596

-2,819-12,427

2174,184

1 Includes employment taxes, estate and gift taxes, customs revenues, and miscellaneous receipts.2 Includes expenditures for international affairs and finance (including defense support under the mutual

security program), labor and welfare, natural resources, commerce and housing, and general government;also includes adjustment to daily Treasury statement (for actuals) and allowance for contingencies (forestimates).

3 Estimate.NOTE.—Detail will not necessarily add to totals because of rounding.

Sources: Treasury Department and Bureau of the Budget.

533287 O—60 15 215


TABLE D-53.—Government cash receipts from and payments to the public, 1946-67


Period

Calendar year:1946194719481949 .

1950—195119521953. .._ -. _1954

19551956 ..195719581959 « _ . ..

Fiscal year:194619471948-1949

1950195119521953 .1954

19551956195719581959

1960 •1961 8

Total

Cashre-

ceipts

52.957.460.057.9

60.479.192.693.993.3

98.4110.2116.8115.7124.3

54.255.659.657.6

58.272.588.793.995.6

93.5105.8113.3114.9116.8

Cashpay-

ments

50.950.751.859.8

61.178.394.299.795.3

100.2105.2116.5124.5133.4

70.247.550.256.3

61.565.288.999.196.1

97.5101.6111.8117.9131.2

Excessof re-ceiptsor ofpay-

ments(-)

2.06.78.2

-1.8

-.6.9

-1.6-5.9-2.0

-1.85.0.2

-8.8-9.1

-16.08.19.41.3

-3.37.3-.2

-5.2-.4

-4.04.21.5

-3.0-14.4

Federal 1

Cashre-

ceipts

41.444.344.941.3

42.459.370.970.668.6

71.480.384.581.787.6

43.543.545.441.6

40.953.468.071.571.6

67.877.182.181.981.7

94.8102.2

Cashpay-

ments

41.438.636.942.6

42.058.072.676.869.7

72.274.883.389.095.6

61.736.936.540.6

43.145.868.076.871.9

70.572.680.083.494.8

95.396.3


ments(-)

(3)5.78.0

-1.3

.51.2

-1.7-6.1-1.1

-.75.51.2

-7.3-8.0

-18.26.68.91.0

-2.27.6

(3)-5.3-.2

-2.74.52.1

-1.5-13.1

-.55.9

State and local *

Cashre-

ceipts

11.413.115.116.6

18.019.921.723.224.7

26.929.932.333.936.7

10.712.114.216.0

17.319.120.722.424.0

25.728.731.233.035.1

Cashpay-

ments

9.512.114.917.1

19.120.221.623.025.6

28.030.433.235.537.8

8.510.613.715.7

18.419.420.922.324.2

27.029.031.834.536.4


ments(-)

1.91.0.2

-.5

-1.1-.4

.1

.3-.9

-1.1-.5-.9

r-1.5-1.1

2.21.5.5.3

-1.1-.3-.2

.1-.2

-1.3-.3-.6

-1.5-1.3

i For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June SO, 1961, and Table D-55.

i Estimated by Council of Economic Advisers from receipts and expenditures in the national incomeaccounts. Cash receipts consist of personal tax and nontax receipts, indirect business tax and nontaxaccruals, and corporate tax accruals adjusted to a collection basis. Cash payments are total expendituresless Federal grants-in-aid and less contributions for social insurance. (Federal grants-in-aid are thereforeexcluded from State and local receipts and payments and included only in Federal payments.) SeeTable D-54.

» Less than $50 million.< Preliminary.»Estimate.NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Treasury Department, Bureau of the Budget, Department of Commerce, and Council of Eco-

nomic Advisers.

2l6


TABLE D-54.—Government receipts and expenditures as shown in the national income accounts,1954-59

[Calendar years, billions of dollars]

Receipts or expenditures

Total government

ReceiptsExpendituresExcess of receipts or of

expenditures (— )

Federal Government 4

ReceiptsPersonal tax and non-

tax receiptsCorporate profits tax-

accruals. - _ _Indirect business tax

and nontax accruals.Contributions for so-

cial insuranceE xpenditures

Purchases of goodsand services

Transfer payments —To personsForeign (net)

Qrants-in-aid to Stateand local govern-ments _

Net interest paidSubsidies less current

surplus of Govern-ment enterprises

Excess of receipts or ofexpenditures ( — )_

State and local govern-ments

ReceiptsPersonal tax and non-

tax receiptsCorporate profits tax

accrualsIndirect business tax

and nontax accruals .Contributions for so-

cial insuranceFederal grants-in-aid.

ExpendituresPurchases of goods and

servicesTransfer paymentsNet interest paidLess: Current surplus

of government en-terprises

Excess of receipts or ofexpenditures (— )

1954

90.096.7

-6.7

63.8

29.2

16.5

10.1

8.169.6

47.513.011.61.4

2.96.0

1.2

-5.8

29.1

3.8

.8

20.1

1.62.9

30.1

27.73.4.4

1.4

-.9

1955

101.498.6

2.9

72.8

31.5

20.9

11.0

9.368.9

45.314.012.51.5

3.04.9

1.6

3.8

31.7

4.2

1.0

21.8

1.73.0

32.7

30.33.5

1.6

-1.0

1956

109.5104.3

5.2

77.5

35.2

20.2

11.6

10.671.8

45.714.913.51.5

3.35.2

2.7

5.7

35.2

4.8

1.0

24.1

2.03.3

35.7

33.23.7

1.7

-.5

1957

116.4115.0

1.4

81.9

37.4

20.1

12.2

12.2

79.5

49.417.415.91 5

4.15.6

3.0

2.4

38.7

5.4

1.0

25.9

2.34.1

39.6

36.84.1.6

1.9

-1.0

1958

114.9125.6

-10.7

78.4

36.7

17.3

11.9

12.587.4

52.221.219.91.3

5.46.5

3.1

-9.1

41.9

5.8

.9

27.2

2.75.4

43.5

40.54.5.6

2.1

-1.6

1959 »

2128.8131.9

2-3.2

289.0

39.2

222.3

12.6

14.991.0

53.621.820.31 5

6.66.1

3.0

2-2.0

246.4

6.3

21.1

29.4

3.06.6

47.4

44.34.8. 7

2.3

2-1.0

1957

Firsthalf

Sec-ondhalf

1958

Firsthalf

Sec-ondhalf

1959

Firsthalf

Sec-ond

half1


116.5113.9

2.6

82.5

37.2

20.8

12.3

12.2

79.0

49.416.915.31.6

4.05.6

3.1

3.5

38.0

5.3

1.0

25.4

2.24.0

38.8

36.24.C

1.8

-.9

116.4116.3

.0

81.3

37.5

19.3

12.1

12.380.1

49.417.916.61.3

4.25.7

2.9

1.2

39.3

5.5

1.0

26.3

2.44.2

40.5

37.64.2.6

1.9

-1.2

111.4122.6

-11.1

75.6

36.2

15.3

11.9

12.385.1

50.720.619.31.3

5.15.6

3.1

-9.4

40.9

5.7

.8

26.7

2.65.1

42.5

39.54.5.6

2.0

-1.7

118.4128.9

-10.5

81.1

37.2

19.3

11.9

12.790.1

53.622.020.71.4

5.85.5

3.2

-8.9

43.0

5.9

1.0

27.6

2.85.8

44.6

41.54.6.6

2.1

-1.6

128.1131.0

-2.8

88.9

38.9

23.0

12.3

14.890.7

53.921.520.01 5

6.65.8

3.0

-1.8

45.8

6.2

1.2

28.9

3.06.6

46.9

43.74.8

2.2

-1.0

(3)132.8

(3)

(3)

39.6

(3)

12.8

15.091.4

53.322.220.71 6

6.66.4

2.9

(3)

(3)

6.4

(3)

29.9

3.16.6

48.0

44.94.7.7

2.3

(3)

1 Preliminary estimates by Council of Economic Advisers.2 Approximation for the year as a whole. See also footnote 4, Table D-57.3 Not available.4 These accounts, like the cash budget, include the transactions of the trust accounts. Unlike both the

conventional budget and the eash statement, they exclude certain capital and lending transactions. Ingeneral, they do not use the cash basis for transactions with business. Instead, corporate profits taxes areincluded in receipts on an accrual instead of a cash basis; expenditures are timed with the delivery insteadof the payment for goods and services; and CCC guaranteed price-support crop loans financed by banks arecounted as expenditures when the loans are made, not when CCC redeems them.

NOTE.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures andState and local receipts and expenditures. Total government receipts and expenditures have been adjustedto eliminate this duplication.

Detail will not necessarily add to totals because of rounding.


217


TABLE D-55.—Reconciliation of Federal Government receipts and expenditures in the conventionalbudget and the consolidated cash statement with receipts and expenditures in the national incomeaccounts, fiscal years 1957—59


Receipts or expenditures

RECEIPTS

Budget receiptsLess: Intragovernmental transactions _ .

Receipts from exercise of monetary authorityPlus* Trust fund receiptsEquals: Federal receipts from the public (consolidated cash receipts)Less: Adjustment for agency coverage:

District of Columbia revenues _Plus: Adjustments for netting and consolidation:

Federal Government contributions to:Employee retirement fundsVeterans' life insurance funds

Federal Government employee contributions to employeeretirement funds

Interest, dividends, and other earningsAdjustments for timing:

Excess of taxes included in national income accounts overcash collections:

PersonalCorporate profitsOther .

M iscellaneousLess: Adjustments for capital transactions:

Realization upon loans and investmentsProceeds from sale of Government propertyRecoveries and refunds

Equals: Receipts — national income accounts

EXPENDITURES

Budget expenditures _ _ - -Less' Intragovernmental transactions

Accrued interest and other noncash expenditures (net)Plus* Trust fund expenditures

Government-sponsored enterprise expenditures (net)Equals: Federal payments to the public (consolidated cash expenditures) _ .Less: Adjustment for agency coverage:

District of Columbia expendituresPlus: Adjustments for netting and consolidation:

Federal Government contributions to:Employee retirement fundsVeterans' life insurance funds

Federal Government employee contributions to employeeretirement funds

Interest received and proceeds of Government salesAdjustments for timing:

Accrued interest on savings bonds and Treasury billsCommodity Credit Corporation guaranteed non-recourse

loans (net change)Increase in clearing accountMiscellaneous

Less: Adjustments for capital transactions:Loans and other adjustments:

Federal National Mortgage Association secondary marketoperations

Other ..Purchase of land and existing assetsTrusts and deposit fund expendituresRedemption of International Monetary Fund notes

E quals • E xpenditures — national income accounts

Fiscal years

1957

71.03.2.0

14.482.1

.2

.5

.0

.7-.6

-.3-.8

.2

.4

.3

.4

.480.9

69.43.2-.813.0

.080.0

.2

.5

.0

.7-.4

.6

-.2-.8

-1.1

1.0.4.1.6.7

76.5

1958

69.13.5.1

16.381.9

.2

.7

.0

.7-.9

.3-3.1-.1-.3

.3

.3

.577.9

71.93.5.5

16.1-.683.4

.2

.7

.0

.7-.6

.3

.1

.6-.9

.11.1.1

-.2.4

82.4

1959

68.33.6.0

17.181.7

.2

.8

.0

.8-.8

-.33.6-.2

.4

.6

.3

.484.4

80.73.62.1

18.61.3

94.8

.3

.8

.0

.8-.8

.9

-.2-.1-.4

.15.1.1

1.6-1.489.9

NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Treasury Department, Bureau of the Budget, and Department of Commerce.

2l8


TABLE D—56.—State and local government revenues and expenditures, selected fiscal years•, 7927-58

[Millions of doUars]

Fiscal year !

1927 -_-

1932193419361938

19401942194419461948

1950195219531954..

1955195619571958

Revenues by source 3

Total

7,271

7,2677,7138,5049,228

9,60910, 41810, 90812, 35717, 251

20, 91125, 18127, 30729, 013

31, 07334, 66738, 16441, 219

Prop-ertytaxes

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10, 73511, 74912,86414, 047

Salesandgrossre-

ceiptstaxes

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5, 1546,3576,9277,276

7,6438,6919,4679,829

Indi-vidualincometaxes

70

7480

153218

224276342422543

788998

,065,127

,237,538,754,759

Corpo-ration

netincometaxes

92

7949

113165

156272451447592

593846817778

744890984

1,018

Reve-nuefromFed-eralGov-ern-

ment

116

2321,0511,057

800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8434,865

Allotherreve-nue 3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,2509,699

Expenditures by function 2

Total

7,210

7,7657,1817,6448,757

9,2299,1908,863

11, 02817, 684

22, 78726, 09827, 91030, 701

33, 72436, 71140, 37544, 851

Edu-cation

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,390

10, 557

11,90713, 22014, 13415, 919

High-ways

1,809

,741,509,425,650

,573,490,200,672

3, 036

3,8034,6504,9875,527

6,4526,9537,8168,567

Publicwel-fare

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,4043,729

Allother 4

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710, 34010, 61911,556

12, 19613, 39715, 02016, 635

1 Fiscal years not the same for all governments.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust

activities. Intergovernmental receipts and payments between governments hi these categories are alsoexcluded.

3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation,

housing and community redevelopment, local recreation, general control, interest on general debt, andother and unallocable expenditures.

NOTE.—Data are not available for intervening years.See Table D-47 for net debt of State and local governments.Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (Bureau of the Census^.


CORPORATE PROFITS AND FINANCE

TABLE D-57.—Profits before and after taxes, all private corporations. 1929-59


Period

1929

193019311932 _ __19331934...

19351936193719381939. .

1940 . _ .19411942 .19431944

19451946194719481949

19501951 _ _ .19521953.. . . -1954

1955-.- _ _195619571958 _.1959 3 .


1958: First quarter _ _Second quarterThird quarterFourth quarter

1959: First quarter _Second quarterThird quarter ._Fourth quarter3

Corporateprofitsbeforetaxes

9.6

3.3-.8

-3.0.2

1.7

3.15.76.23.36.4

9.317.020.924.623.3

19.022.629.533.026.4

40.642.236.738.334.1

44.944.743.337.1

448.0

Corporatetax

liability 1

1.4

.8

.5

.4

.5

.7

1.01.41.51.01.4

2.87.6

11.414.112.9

10.79.1

11.312.510.4

17.922.419.520.217.2

21.821.221.118.2

*23.4

Corporate profits after taxes

Total

8.3

2.5-1.3-3.4-.41.0

2.24.34.72.35.0

6.59.49.5

10.510.4

8.313.418.220.516.0

22.819.717.218.116.8

23.023.522.218.9

4 24. 6

Dividendpayments

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.512.413.2

Undistrib-uted

profits

2.4

-3.0-5.4-6.0-2.4-1.6

-.7-.2

(J)-.91.2

2.44.95.26.05.7

3.67.7

11.713.38.5

13.610.78.38.97.0

11.811.39.76.5

411.4


46.243.544.039.4

32.033.638.344.6

46.552.646.4

(5)

22.521.221.419.2

15.716.518.821.9

22.625.622.6

(5)

23.722.322.520.2

16.317.119.522.7

23.827.023.8

(5)

12.612.712.812.2

12.712.612.612.0

12.813.013.413.6

11.19.69.78.0

3.64.56.9

10.7

11.114.010.4

(5)

1 Federal and State corporate income and excess profits taxes.2 $48 million.3 Preliminary estimates by Council of Economic Advisers.4 Data for corporate profits and inventory valuation adjustment are approximations for the year as a whole;


5 Not available.NOTE.—No allowance has been made for inventory valuation adjustment. See Table D-9 for profits

before taxes and inventory valuation adjustment.Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

22O


TABLE D-58.—Relation of profits before and after taxes to stockholders' equity and to sales,private manufacturing corporations, by asset size class, 1956-59

Period

BASED ON 1945 SIC1956:

First quarterSecond quarter. _ _Third quarterFourth quarter- _ _

1957:First quarterSecond quarter. _.Third quarterFourth quarter. _ _

1958:First quarterSecond quarter-..Third quarterFourth quarter. _ -


First quarterSecond quarter _ _ .Third quarterFourth quarter- _ _

1959:First quarterSecond quarter...Third quarter


First quarterSecond quarterThird quarterFourth quarter. . .


1958:First quarterSecond quarter. - -Third quarterFourth quarter. . _


First quarterSecond quarterThird quarterFourth quarter. . .

1959:First quarterSecond quarterThird quarter

Asset size class (millions of dollars)

All assetsizes Under 1 I t o l O 10 to 100 100 to 1,000 1,000 and

over

Ratio of profits (annual rate) to stockholders' equity— percent

Beforetaxes

23.824.220.222.3

22.521.619.116.8

12.913.915.918.8

12.913.915.918.8

18.723.117.1

Aftertaxes

12.513.011.012.6

11.911.610.59.8

6.87.89.0

10.8

6.87.89.0

10.7

10.012.59.6

Beforetaxes

18.322.823.812.9

15.619.319.66.7

5.511.416.47.8

5.511.416.57.8

12.520.421.1

Aftertaxes

9.812.913.05.8

7.810.410.41.9

.45.49.32.5

.45.49.32.5

5.711.712.4

Beforetaxes

21.721.921.419.1

18.620.219.113.0

9.813.317.114.9

9.813.317.114.9

15.120.219.8

Aftertaxes

10.610.610.69.4

8.79.89.36.0

3.56.18.37.3

3.56.08.37.3

6.910.19.9

Beforetaxes

22.924.422.723.0

21.421.420.117.0

13.114.416.918.5

13.014.416.918.5

17.522.420.7

Aftertaxes

11.312.211.311.8

10.510.710.08.9

6.47.28.59.7

6.37.28.59.7

8.711.410.5

Beforetaxes

25.025.320.224.0

22.221.419.718.2

14.215.717.920.3

14.215.717.820.2

19.223.917.6

Aftertaxes

12.613.010.513.4

11.611.210.210.2

7.48.49.4

11.3

7.48.39.4

11.2

10.112.59.4

Beforetaxes

25.924.416.624.0

27.323.117.719.3

14.312.312.321.4

14.312.312.321.4

21.724.512.1

Aftertaxes

14.914.911.115.9

16.014.011.813.7

9.58.89.1

14.2

9.58.89.1

14.2

12.914.38.6

Profits per dollar of sales— cents

Beforetaxes

10.210.39.09.3

9.79.48.57.6

6.46.87.78.6

6.46.87.78.6

8.910.28.2

Aftertaxes

5.35.54.95.2

5.15.04.74.4

3.43.84.44.9

3.43.84.44.9

4.75.54.6

Beforetaxes

4.15.05.12.7

3.54.24.21.5

1.32.53.61.6

1.32.53.61.6

2.84.24.3

Aftertaxes

2.22.82.81.2

1.82.22.2.4

.11.22.1.5

.11.22.1.5

1.32.42.5

Beforetaxes

7.57.57.46.4

6.66.96.64.5

3.85.06.15.3

3.85.06.15.3

5.46.66.7

Aftertaxes

3.73.63.73.2

3.13.33.22.1

1.42.32.92.6

1.42.32.92.6

2.53.33.4

Beforetaxes

10.010.410.09.8

9.39.38.97.7

6.57.08.18.5

6.57.08.18.5

8.49.99.5

Aftertaxes

5.05.25.05.0

4.64.64.44.0

3.23.54.04.5

3.13.54.04.5

4.25.04.8

Beforetaxes

11.511.59.7

10.6

10.410.09.48.8

7.58.08.99.8

7.58.08.99.7

9.610.98.8

Aftertaxes

5.85.95.15.9

5.45.24.94.9

3.94.34.75.4

3.94.24.75.4

5.05.74.7

Beforetaxes

15.515.011.814.0

15.414.311.912.6

10.69.7

10.414.9

10.69.7

10.414.9

15.216.410.2

Aftertaxes

8.99.17.99.3

9.08.67.99.0

7.06.97.79.9

7.06.97.79.9

9.09.67.3

NOTE.—Data on a comparable basis are not available for earlier periods. For details concerning compila-tion of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations, Federal TradeCommission and Securities and Exchange Commission.

Sources: Federal Trade Commission and Securities and Exchange Commission.

221


TABLE D-59.—Relation of profits after taxes to stockholders* equity and to sales; private manu-facturing corporations, by industry group, 1956-59

Period


First quarterSecond quarter-Third quarter. - -Fourth quarter —

1957:First quarterSecond quarter —Third quarter. -Fourth quarter..

1958:First quarter.. ..Second quarter. .Third quarter. -Fourth quarter..


First quarterSecond quarter —Third quarterFourth quarter..

1959:First quarterSecond quarter..Third quarter...


First quarterSecond quarter _.Third quarter. ..Fourth quarter..

1957:First quarter.. ..Second quarter..Third quarter. -Fourth quarter..

1958:First quarterSecond quarter _.Third quarter. ..Fourth quarter. .


First quarterSecond quarter ~Third quarter- .-Fourth quarter...

1959:First quarterSecond quarter. -Third quarter -...

Allpri-vateman-ufac-tur-ingcor-

pora-tions

Durable goods industries

Lum-berandwoodprod-ucts(ex-cept

furni-ture)

Fur-nitureandfix-

tures

Stone,clay,andglassprod-ucts

Pri-maryironandsteelin-

dus-tries

PriIT n-marynon-fer-rous

metalin-

dus-k

Fab-ri-

catedmetalprod-ucts

Ma-chin-ery(ex-ceptelec-

trical)

Elec-trical

ma-chin-ery,

equip-ment,andsup-plies

Mo-tor

vehi-clesand

equip-ment

Othertrans-porta-tion

equip-ment

In-stru-mentsandre-

latedprod-ucts

Mis-cella-neousman-ufac-tur-ing(in-

clud-ingord-

nance)

Ratio of profits after Federal taxes (annual rate) to stockholders' equity— percent

12.513.011.012.6

11.911.610.59.8

6.87.89.0

10.8

6.87 0

. O

9.010.7

10.012.59.6

9.111.09.05.6

2.06.26.54.1

.23.1

11.08.4

.23 1. i11.08.4

6.111.312.9

10.711.413.011.2

7.39.29.77.8

2.03.48.7

11.1

2.0q A6. 48.6

11.0

6.29.1

11.7

12.617.215.913.6

10.013.713.811.9

4.011.114.911.9

3.4n r\. u14.711.4

8.017.415.7

14.715.16.0

15.1

13.813.09.98.9

5.36.56.5

10.4

5.36 C. 0

6.510.4

11.716.7

-2.7

19.918.013.914.1

12.49.78.17.1

5.74.65.68.0

5.7

5.67.9

8.210.36.7

10.911.511.09.4

9.510.911.05.8

4.97.38.87.6

5.0

8.87.9

5.99.7

10.9

11.914.212.012.3

12.313.010.17.5

5.77.77.27.7

5.6

7.17.0

7.112.510.7

10.312.111.611.4

13.912.911.511.9

8.59.2

10.313.2

8.3

9.913.4

10.712.712.2

16.713.16.9

15.7

18.815.39.2

13.6

8.35.91.6

17.0

8.35 n. y1.5

16.9

19.120.88.0

14.316.713.616.1

14.816.413.913.8

11.09.9

10.110.3

11.6

lol310.6

7.89.66.6

8.711.912.516.3

10.612.411.613.2

6.99.3

12.113.1

7.09 0

. O12.213.6

10.812.014.5

9.710.413.313.0

6.97.5

10.45.8

1.66.9

14.77.8

3.65. 7

13.79.2

7.27.1

12.4

Profits after taxes per dollar of sales— cents

5.35.54.95.2

5.15.04.74.4

3.43.84.44.9

3.43.84.44.9

4.75.54.6

4.44.73.82.5

1.02.93.12.1

.11.65.03.8

.11.65.03.8

3.04.75.4

3.13.34.03.1

2.32.83.12.4

.71.22.83.3

.71.22.83.2

2.02.83.4

7.39.18.67.8

6.68.17.87.4

3.17.38.97.6

2.77.28.87.3

5.79.89.1

7.37.24.17.5

7.17.06.15.8

4.25.05.07.2

4.24.95.07.1

7.18.1

—3.1

10.29.88.18.7

8.16.66.05.5

4.83.94.45.8

4.73.84.45.8

6.07.05.1

4.24.24.03.5

3.74.14.22.3

2.23.13.53.0

2.33.23.63.2

2.63.84.1

5.25.85.35.2

5.35.54.73.7

3.13.93.94.1

3.03.93.93.7

3.85.85.2

3.64.03.93.5

4.54.34.04.0

3.23.53.94.5

3.23.53.94.7

4.04.54.4

6.05.03.35.8

6.35.74.05.4

3.72.91.06.8

3.72.91.06.8

7.47.84.1

3.63.83.23.2

3.23.33.12.9

2.62.32.52.5

2.72.32.42.5

2.02.21.5

4.55.86.16.6

5.35.85.76.0

3.74.86.26.0

3.85.06.36.3

5.76.07.3

3.23.44.13.8

2.42.43.21.9

.62.34.72.6

1.52.24.83.3

2.92.64.6


222


TABLE D-59.—Relation of prof is after taxes to stockholders* equity and to sales, private manu-facturing corporations, by industry group, 1956-59-—Continued

Period


First quarterSecond quarterThird quarterFourth quarter


1958:First quarterSecond quarterThird quarterFourth quarter ..--



1959:First quarterSecond quarterThird quarter



1957:First quarterSecond quarter. _.Third quarterFourth quarter. ._

1958:First quarterSecond quarter. _.Third quarterFourth quarter.--



1959:First quarterSecond quarter. _ -Third quarter

Nondurable goods industries

Foodandkin-dredprod-ucts

1

To-baccoman-ufac-tures

\

Tex-tilemillprod-ucts

Ap-pare!and

relatedprod-ucts

Paperand

alliedprod-ucts

Print-ingandpub-lish-ing(ex-cept

news-pa-

pers)

Chem-icalsand

alliedprod-ucts

Petro-leumrefin-ing

Prod-ucts ofpetro-leumandcoal(ex-cept

petro-leumrefin-ing)

Rub-ber

prod-ucts

Leatherand

leatherprod-ucts

Ratio of profits after Federal taxes (annual rate) to stockholders' equity— percent

8.29.9

10.48.7

7.48.4

10.48.3

6.98.69.99.7

6.88.59.89.7

7.89.5

10.4

10.012.012.712.1

10.311.913.913.8

11.813.314.514.3

11.813.314.514.3

12.014.214.4

6.44.85.56.4

4.44.44.83.4

.92.75.26.0

.62.55.15.8

5.98.17.6

6.84.5

10.910.0

6.75.99.73.0

3.41.39.55.5

3.31.59.45.5

8.67.5

10.1

12.112.211.011.3

10.29.08.77.8

6.87.67.48.7

7.07.97.99.3

8.510.29.6

16.315.011.010.0

12.314.811.98.0

8.39.3

11.66.5

8.49.4

11.56.6

9.812.014.9

15.014.713.113.9

13.713.913.112.3

9.911.312.013.0

9.811.011.812.8

13.015.614.1

13.114.013.215.3

14.411.811.112.5

8.98.2

10.412.3

8.98.2

10.412.3

10.19.49.7

7.711.112.08.4

4.38.2

10.87.6

-.86.29.87.1

-2.48.3

12.46.2

4.013.619.3

11.913.111.012.8

11.511.610.910.6

6.78.1

11.312.1

5.38.7

11.510.8

10.013.111.1

9.66.66.36.4

6.66.56.98.0

4.13.28.47.0

4.13.28.36.9

6.98.98.7

Profits after taxes per dollar of sales — cents

2.22.62.72.2

2.02.22.62J

1.82.22.52.4

1.82.22.52.4

2.12.52.7

4.55.05.35.1

4.74.95.55.4

5.15.25.55.6

5.15.25.55.6

5.25.55.6

2.82.22.62.8

2.02.02.21.5

.41.32.42.5

.31.22.32.4

2.53.23.0

1.41.02.11.9

1.41.21.8.6

.7

.31.71.0

.7

.31.71.0

1.61.41.8

6.46.45.95.9

5.74.94.94.5

4.14.54.35.0

4.34.84.65.3

5.05.55.2

5.45.03.73.0

4.04.83.82.5

2.83.34.02.2

2.93.44.12.3

3. 64.25.1

8.58.17.67.9

7.87.97.67.3

6.46.77.07.5

6.46.77.17.6

7.78.58.1

10.612.011.412.3

11.010.29.8

11.3

8.28.29.9

11.3

8.28.29.9

11.3

9.39.49.5

3.84.75.33.8

2.13.64.43.4

-.52.93.93.6

-1.53.54.22.9

1.95.77.1

4.34.64.14.7

4.44.34.04.1

3.03.44.54.5

2.23.34.43.9

3.94.44.1

2.81.91.81.8

1.81.92.02.4

1.31.02.41.9

1.31.02.41.9

1.92.42.2

NOTE.— Data on a comparable basis are not available for earlier periods. For explanatory notes concerningcompilation of the series, see Quarterly Financial Reports for U.S. Manufacturing Corporations, FederalTrade Commission and Securities and Exchange Commission.

Sources: Federal Trade Commission and Securities and Exchange Commission.

223


TABLE D-60.—Sources and uses of corporate funds, 1948-59l


Source or use of funds

Total ases

Plant and equipment outlaysInventories (book value)Customer net receivables 3

Cash and U.S. Governmentsecurities

Other assets

Total sources

Internal sources

Retained profits and deple-tion allowances

Depreciation and amortiza-tion allowances

External sources

Federal income tax liability. _Other liabilities ...Bank loans and mortgage

loansNet new issues .

Discrepancy (uses less sources)

1948

27.0

18.84.22.8

1.0.2

27.8

18.8

12.6

6.2

9.0

.9

.4

1.85 9

-.8

1949

16.8

16.3-3.6

.9

3.2

15.8

14.9

7.8

7.1

.9

-2.2.5

-2.34.9

1.0

1950

36. 5

16.99.85.0

4.5.3

35.4

20.8

13.0

7.8

14.6

7.31.0

2.63.7

1.1

1951

36.8

21.69.82.0

2.8.6

36.9

19.0

10.0

9.0

17.9

4.31 9

5.46 3

-.1

1952

27.3

22.41.33.1

.1

.4

28.1

17.8

7.4

10.4

10.3

-3.12.4

3.17 9

-.8

1953

28.2

23.91.8.7

1.8(4)

30.0

19.7

7.9

11.8

10.3

.62.2

.47.1

-1.8

1954

24.0

22.4-1.6

2.4

(4).8

22.4

19,8

6.3

13.5

2.6

-3.1.4

-.65 9

1.6

1955

45,1

24.26.76.4

5.02.8

44.8

26.6

10.9

15.7

18.2

3.82.1

5.46 9

3

1956

39.5

29.97.63.3

—4 33 0

42.4

27 8

10.5

17 3

14 6

-1.73.0

5.47.9

—2 9

1957

38.6

32.72.74.0

— 1 91 l

40.2

27 7

9.0

18.7

12 5

-1.92.2

1.710.5

— 1 6

1958

31.2

26.4-4.4

4.1

3 41 7

31.6

25 6

6.0

19 6

6 0

-2.5.1

— 1.19.5

— 4

19592

46.0

27.03.06.0

5 54 5

47.0

30 5

510.0

20.5

16.5

2.52.0

4.08.0

— 1 0

1 Excludes banks and insurance companies.2 Preliminary estimates.3 Receivables are net of payables, which are therefore not shown separately.4 Less than $50 million.6 Preliminary estimate by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce based on Securities and Exchange Commission and other financial

data (except as noted).

224


TABLE D-61.—Current assets and liabilities of United States corporations, 1939-59l


End of period

1939

19401941194219431944

1945 -1946

194719481949

19501951195219531954 ... -.-

195519561957 . - -1958

1957:First quarterSecond quarter. _.Third quarterFourth quarter. ..

1958:First quarterSecond quarter ...Third quarterFourth quarter. ..

1959:First quarterSecond quarter...Third quarter

Current assets

"ea"o

54.5

60.372.983.693.897.2

97.4108. 1

123.6133.0133.1

161.5179.1186.2190.6194.6

224.0237.9242.0243.7

237.2236.8241.6242.0

234.9232.9237.8243.7

247.1254.8258.9

'de03

"3 Wa-a.a-

z*ao10 8

13.113.917.621.621.6

21.722.8

25.025.326.5

28.130.030.831.133.4

34.634.834.737.1

32.132.733.434.7

32.334.235.237.1

34.335.635.3

I

il**• 'SO 0>

GQ

U>

2.2

2.04.0

10.116.420.9

21.115.3

14.114.816.8

19.720.719.921.519.2

23.519.117.218.2

18.416.116.417.2

16.013.915.018.2

19.520.021.3

!k•S ° a*°e|-.S§P

0.1.6

4.05.04.7

2.7.7- •».

3£4243

1.12.72.82.62.4

2.32.62.82.8

2.52.52.42.8

2.72.62.72.8

2.82.72.7

li$ CJ3 * 0

§|1<S 3

O c3

22.1

23.927.423.321.921.8

23.230.0*•

.3

.4

.0

55.758.864.665.971.2

86.695.198.3

101.0

95.596.899.498.3

95.496.6

100.5101.0

102.6106.4109.2

8S

1et— 1

18.0

19.825.627.327.626.8

26.337.6

44.648.945.3

55.164.965.867.265.3

72.880.482.377.6

82.482.683.482.3

81.578.477.377.6

80.081.882.1

1

i|&l6

1.4

1.51.41.31.31.4

2.41.7

1.61.61.4

1.72.12.42.43.1

4.25.96.77.0

6.36.26.66.7

7.07.17.27.0

7.88.38.4

Current liabilities

I30.0

32.840.747.351.651.7

45.851.9

61.564.460.7

79.892.696.198.999.7

121.0130.5130.2123.8

127.8126.4130.3130.2

121.5117.9120.7123.8

124.7129.3132.0

l«~!*s2«!isslie-Sao

<<

0.6.8

2.02.21.8

.9

.1" -v.373937

.41.32.32.22.4

2.32.42.31.7

2.52.62.62.3

2.11.91.81.7

1.71.71.7

if0> <S

|tfc o

O §3

21.9

22.625.624.024.125.0

24.831.5

.6

.3

.5

47.953.657.057.359.3

73.881.581.277.9

80.580.981.981.2

76.575.376.477.9

78.481.182.6

3o>fi wll^•203.2

f1.2

2.57.1

12.616.615.5

10.48.5

10.711.59.3

16.721.318.118.715.5

19.317.615.713.3

15.012.714.415.7

12.49.8

11.413.3

12.813.714.6

I*S§fc-s5-3S~

6.9

7.17.28.78.79.4

9.711.8

13.213.514.0

14.916.518.720.722.5

25.729.031.130.9

29.830.131.431.1

30.430.831.130.9

31.832.833.1

Network-ing

capi-tal

24.5

27.532.336.342.145.6

51.656.2

62.168.672.4

81.686.590.191.894.9

103.0107.4111.7119.8

109.4110.5111.3111.7

113.4115.0117.1119.8

122.4125.4126.9

1 All United States corporations, excluding banks, savings and loan associations, and insurance companies.Year-end data through 1956 are based on Statistics of Income (Treasury Department), covering virtually allcorporations in the United States. Statistics of Income data may not be strictly comparable from year toyear because of changes in the tax laws, basis for filing returns, and processing of data for compilation pur-poses. All other figures shown are estimates based on data compiled from many different sources, includingdata on corporations registered with the Securities and Exchange Commission. As more complete informa-tion becomes available, estimates are revised.

2 Receivables from and payables to U.S. Government do not include amounts offset against each otheron the corporation's books or amounts arising from subcontracting which are not directly due from or tothe U.S. Government. Wherever possible, adjustments have been made to include U.S. Governmentadvances offset against inventories on the corporation's books.

3 Includes marketable securities other than U.S. Government.


Source: Securities and Exchange Commission.

225


TABLE D-62.—State and municipal and corporate securities offered, 1934-591


Period

1934

1935193619371938 -1939

19401941 .- -194219431944 -

1945 - -1946194719481949

19501951195219531954

1955 _1956 .. . ..195719581959 8



1959:First quarterSecond quarterThird quarterFourth quarter 8---

Stateand

munici-pal se-curitiesofferedfor cash(prin-cipal

amounts)

939

1,2321,121

9081,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894.4015,5586,969

5,9775,4466,9587,4497,669

1, 7581,6891,5491,962

2,2062,2281,6681,347

2,1572, 5041,5001,508

Corporate securities offered for cash 2

Gross proceeds 8

Total

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, 88411,5589,579

3,5583, 2582,9973, 071

3,3182.8982,9102,432

2,3112,6672,0402,560

Com-monstock

19

22272?852587

1081103456

163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,003

753765404593

289216345484

511638329525

Pre-ferredstock

6

862714068698

183167112124369

7581,127

762492425

631838564489816

635636411571510

9813972

102

182154104131

13817363

136

Bondsand

notes

372

2,2244,0281,6182,0441,980

2,3862,390

917990

2,670

4,8554,8825,0365,9734,890

4,9?05,6917,6017,0837,488

7,4208,0029,9579,6537,066

2,7062,3542,5212,376

2,8462,5282,4611,818

1,6621,8561,6481,899

Proposed uses of net proceeds 4

Total

384

2,2664,4312,2392,1102,115

2,6152,6231,0431,1473,142

5,9026,7576,4666,9596,959

6,2617,6079,3808,7559,365

10, 04910, 74912,66111,3729,362

3,4933,1942,9503,023

3,2732,8482,8622,389

2,2632,6061,9962,497

New money

Total

57

208858991681325

569868474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7,9579,663

11, 7849,9078,435

3,1802,9482,8092,847

3,0662,2812,5352,025

1,9332,4111,8222,269

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213, 724

2,9665,1106,3125,6475,110

5, 3336,7099,0407,7925,838

2,5912,2381,9552,255

2,5661,9331,9001,393

1,3561,7251,0811,676

Work-ing

capi-tal

26

96478417177155

145?07187167405

4421,1641,1821,708

882

1,0411,4211,8682, 3131,670

2,6242,9542,7442,1152,597

589710853592

501347635633

578685741593

Retire-mentof se-

curities

231

1,8653,3681,1001,2061,695

1,8541,583

3%739

2,389

4,5552,8681,352

307401

1,271486664260

1,875

1,227364214549159

49465169

13422510189

47423832

Otherpur-poses

95

19320414822295

19217217310096

267610524722952

984589537535709

864721663915768

26420191

107

73342225275

283154137195

1 These data cover substantially all new issues of State, municipal, and corporate securities offered forcash sale in the United States in amounts over $100,000 and with terms to maturity of more than 1 year.

2 Excludes notes issued exclusively to commercial banks, intercorporate transactions, sales of invest-ment company issues, and issues to be sold over an extended period, such as offerings under employee-purchase plans.

3 Number of units multiplied by offering price.4 Net proceeds represents the amount received by the issuer after payment of compensation to distributorsand other costs of notation.8 Preliminary.

NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Securities and Exchange Commission, The Commercial and Financial Chronicle, and The Bond

Buyer.

226


TABLE D-63.—Common stock prices and earnings and stock market credit, 1939-59

Period

1939

1940 .--1941 . .194219431944

19451946194719481949 -_

19501951195219531954 -

1955195619571958 -1959

1958* JanuaryFebruaryMarch.AprilMayJune




Commonstockpricesindex,

1939=100(SEC) i

100.0

94.285.774.999.2

108.1

131.2149.4130.9132. 7127.7

154.1184.9195.0193.3229.8

304.6345.0331.4340.9420.2

304.7304.0310.8311.9322.9330.6

339.2351.7360.5376.4387.8392.8

409.9403.9413.9419.4425.3419.0

434.3433.9417.2416.4416.6429.2

Commonstockprice/

earningsratio —

industrials(Standard& Poor's) 2

15.06

10.227.92

12.1814.4016.07

19.7413.908.946.456.88

7.039.54

10.919.56

12.90

12.8314.1912.2419.98

(6)

13.70

16.92

18.20

19.98

18.56

17.93

17.33

(6)

Stock market credit

Customer credit (excluding U. S.Government securities)

Total Net debitbalances 3

Bank loansto

"others" 4

Bank loansto brokers

anddealers 5

Millions of dollars

(fl)

(6)(6)(6)(6)(6)

1,374976

1,032968

1,249

1,7981,8261,9802,4453,436

4,0303,9843,5764,537

(6)

3,5543,6793,8633,9804,0694,218

4,2934,2434, 3504,4094,4644,537

4,5974,5694,6364,7644,7584,734

4,6484,5284,4434,4014,460

(«)

(6)

(8)(•)(fl)(6)CO

942473517499821

1,2371,2531,3321,6652,388

2,7912,8232,4823,285

(6)

2,4872,5802,6652,7352,8562,921

3,0213,0133,1093,1883,2453,285

3,2973,2533,3053,4013,3853,388

3,3743,2693,2503,2103,273

(6)

(6)

(6)(6)(•)(6)

353

432503515469428

561573648780

1,048

1,2391,1611,0941,2521,187

1,0671,0991,1981,2451,2131,297

1,2721,2301,2411,2211,2191,252

1,3001,3161,3311,3631,3731,346

1,2741,2591,1931,1911,1871,187

715

584535850

1,3282,137

2,7821,471

7841,3311,608

1,7421,4192,0022,2482,688

2,8522,2142,1902,5692,579

1,6451,8822,0702,7492,2043,170

2,3231,6871,6891,6601,9352,669

2,1461,9391,8522,2262,0752,017

2,1062,1032,0612,1152,0872,579

1 Based on 265 stocks.2 Based on 50 stocks for 1939-56 and 425 stocks beginning 1957. Ratio is obtained by dividing aggregate

market value at end of period by aggregate earnings for 12 months ending with period shown.3 As reported by member firms of the New York Stock Exchange carrying margin accounts. Includes

net debit balances of all customers (other than general partners in the reporting firm and member firms ofnational exchanges) whose combined accounts net to a debit. Balances secured by U. S. Governmentobligations are excluded. Data are for end of period.4 Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except U.S. Government obligations. From 1953 through June 1959, loans for purchasingor carrying U.S. Government securities were reported separately only by New York and Chicago banks.Accordingly, for that period any loans for purchasing or carrying such securities at other reporting banksare included. Series also revised beginning July 1946, March 1953, and July 1958. Data are for last Wednes-day of period. For details, see Federal Reserve Bulletin, August 1959.5 Loans by weekly reporting member banks for purchasing or carrying securities, including U.S. Govern-ment obligations. Series revised beginning July 1946, January 1952, July 1958, and July 1959. Data arefor last Wednesday of period. For details, see Federal Reserve Bulletin, August 1959.

8 Not available.Sources: Securities and Exchange Commission, Board of Governors of the Federal Reserve System,

Standard & Poor's Corporation, and New York Stock Exchange.

227


TABLE D-64.—Business population and business failures, 1929-59

Period

192919301931 -_1932193319341935193619371938 _._19391940 ._19411942194319441945 ...19461947 ..1948194919501951195219531954 _._195519561957 ___195819591958:

JanuaryFebruaryMarchAprilMayJune.JulyAugustSeptemberOctoberNovember..December..

1959:JanuaryFebruary.-.MarchAprilMayJuneJulyAugustSeptember..OctoberNovemberDecember

Operating businesses andbusiness turnover (thou-

sands of firms) !

Oper-atingbusi-

nesses 2

3, 029. 02, 993. 72, 916. 42, 828. 12, 782. 12, 884. 02, 991. 93, 069. 83, 136. 33, 073. 73, 222. 23. 318. 93, 276. 03, 295. 33, 030. 02,839.T

2, 995. 43, 242. 53, 651. 23, 872. 93, 984. 24, 008. 74, 067. 34, 118. 24, 187. 74, 239. 84, 286. 84, 381. 24, 470. 74, 534. 44, 589. 2

4,548.0

4, 557. 0

4, 57JO. 0

4, 586. 0

4, 608. 0

4,621.0

4, 645. 0

4, 666. 0

Newbusi-ness-es 3

(6)(6)(«)(•)(8)(«)(6)(6)(6)(8)(6)

275.2290.0121. 2146.0330.9422.7617.4460.8393.3331.1348.2327.1345.6351.6365.6408.2431.2405.1411.3

Dis-con-tin-uedbusi-ness-ess

(6)(6)(•)(•)(6)(6)(8)(6)(8)(6)(8)

318.1270.7386.5337.0174.6175.6208.7239.2282.0306.5289.6276.2276.1299.4318.7313.8341.7341.4356.5

Busi-ness

trans-fers s

(8)(8)(6)(8)(6)(«)(8)(8)(8)(6)C8)

8%

359.4473.2626.9571.9501.3434.7419.4358.2370.2377.6370.7384.3392.7376.2372.5

Newbusi-ness

incor-pora-tions

(num-ber) 3

(•)(8)CO(6)(8)(8)

88(•)(«)(•)(6)(6)(fl)(8)

132, 916112,63896, 10185, 49192,92583,64992, 819

102, 545117, 164139, 651140, 775136, 697

8150, 280•193,060

13,08010,46611, 67011,32911, 94311, 99112, 45412, 23412, 93213,63312,09016,458

818,83915, 79118, 17617, 61516, 72116,20816, 65034,40614, 66414, 52613, 015

• 16, 449

Business failures 3 <

Busi-nessfail-ure

rate 5

103.9121.6133.4154.1

7100.361.161.747.845.961.1

7 69. 663.054.444.616.46.54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.951.8

63. g64.160.069.766. S67. S68. g54.068.467.455.961.3

61.160.960.46g.O48.363.849.963.368.450.555.449.6

Number of failures

Total

22, 90925, 35528. 28531,822

7 19, 85912, 09112, 2449,6079,490

12, 8367 14, 768

13,61911,8489,4053,2211,222

8091,1293, 4745, 2509,2469,1628, 0587,6118, 862

11,08610, 96912, 68613, 73914.96414, 053

,279,238,495,458,341,260,253,127,039,271.121,082

,273,161,263,292,135,244,071,135,144,125,130,080

Liability sizeclass

Under$100,000

22, 16525, 40827, 23030, 197

7 18, 88011, 42111. 6919,2859,203

12,5537 14, 541

13,40011, 6859,2823,1551,176

7591,0023,1034,8538,7088, 7467, 6267,0818,075

10, 22610, 11311,61512, 54713, 49912, 707

1,1421,1131, 3421,2751,2351,1301,1391,018

9321,1781,007

988

1,1361,0471,1431,1531, 0361,147

9621,0481,0261,0441,020

945

$100,000andover

744947

1, 0551,6257 979

670553322287283

7 227219163123664650

127371397538416432530787860856

1,0711,1921,4651,346

13712515318310613011410910793

11494

1371141201399997

10987

11881

110135

Amount of currentliabilities (millions of

dollars)

Total

483.3668.3736.3928.3

7 457. 5334.0310.6203.2183.3246.5

7 182. 5166.7136.1100.845.331.730.267.3

204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8

64.465.371.684.056.261.465.450.848.147.356.757.1

73.658.665.171.950.949.251.254.554.750.453.259. 6

Liability sizeclass

Under$100,000

261.5303.5354. 2432.6

7 215. 5138.5135.5102.8101.9140.1

7 132. 9119.9100. 780.330.214.511.415.763.793.9

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9

23.824.431.627.828.525.225.422.521.424.121.521.5

23.921.625.424.422.625.822.822.222.323.423.521.1

$100,000andover

221.8364.8382.2495. 7

7 242. 0195.4175.1100.481.4

106.4749.7

46.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226.6251.2243.0322.9348.2430.7413.9

40.640.940.056.227.836 239.928.326.723.235.235.6

49.737.039.747.528.323.428.432.332.527.029.738.4

1 Excludes firms in the fields of agriculture and professional services. Includes self-employed persononly if he has either an established place of business or at least one paid employee. Series revised beginning 1951.

2 Data through 1939 are averages of end-of-quarter estimates centered at June 30. Beginning 1940, dataare for beginning of period. Quarterly data shown here are seasonally adjusted.

3 Total for period,4 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933,

of real estate, insurance, holding, and financial companies, steamship lines, travel agencies, etc.5 Failure rate per 10,000 listed enterprises. Monthly data are seasonally adjusted.6 Not available.7 Series revised; not strictly comparable with earlier data.8 Beginning January 1959,'data for Hawaii are included. Total for 1958 including Hawaii is 150,781.9 Preliminary.NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Department of Commerce and Dun & Bradstreet, Inc.

228


AGRICULTURETABLE D-65.—Income of the farm population, 1929-59

Period

1929

19301931193219331934 . .

1935 . . -1936193719381939

19401941194219431944

194519461947 -19481949

1950195119521953 . -.1954

195519561957195819598

1958:First quarterSecond quarter..Third quarter _ _ _Fourth quarter..1959:First quarterSecond quarter _.Third quarter. __Fourth quarter6

Net incomefrom allsources

Real-ized(ex-

cludesnet

changein

inven-tories)

Total(in-

cludesnet

changein

inven-tories)

Income from agricultural sources

Net incomefrom agri-culturalsources l

Real-ized(ex-

cludesnet

changein

inven-tories)

Total(in-

cludesnet

changein

inven-tories)

Farm operators' income

Realizedgross farm

income

To-tal 2

Ex-clud-ing

Gov-ern-

mentpay-

ments

Pro-duc-tionex-

penses

Net farmincome 3

Real-ized(ex-

cludesnet

changein

inven-tories)

Total(in-

cludesnet

changein

inven-tories) 4

In-comefromnon-agri-cul-tural

sources

Billions of dollars

(5)

«(8)

86.3

7.28.18.47.37.6

7.710.113.817.518.2

18.721.324.123.220.8

20.222.622.421.719.8

19.520.519.421.219.6

(')

885.3

7.97.39.37.47.7

8.010.614.917.417.8

18.221.422.424.919.9

21.023.723.421.120.2

19.820.120.222.320.3

7.1

5.33.52.43.24.4

5.25.85.95.05.1

5.07.0

10.013.313.8

14.517.019.218.115.6

14.917.016.315.714.0

13.213.812.814.912.9

7.0

5.14.02.53.03.4

5.95.06.85.15.2

5.37.5

11.113.213.4

14.017.017.519.814.7

15.718.117.315.114.4

13.513.413.616.013.6

13.9

11.48.46.47.18.5

9.710.711.310.110.6

11.013.818.823.424.4

25.829.734.434.931.8

32.537.337.035.333.9

33.334.634.438.336.9

13.9

11.48.46.47.08.1

9.110.411.09.79.8

10.313.318.122.723.6

25.028.934.034.731.6

32.237.036.735.133.6

33.134.133.437.236.2

7.6

6.95.54.44.34.7

5.15.66.15.86.2

6.77.79.9

11.512.2

12.914.517.018.918.0

19.322.222.621.421.7

21.922.623.425.225.9

6.3

4.52.91.92.83.9

4.65.15.24.34.4

4.36.28.8

11.912.2

12.815.217.316.113.8

13.215.214.413.912.2

11.512.011.013.111.0

6.1

4.33.32.02.62.9

5.34.36.04.44.5

4.66.69.9

11.811.8

12.415.315.517.812.9

14.016.315.313.312.7

11.811.611.814.211.8

(8)

(5)(8)(5)(8)1.9

2.02.32.52.32.5

2.73.13.84.24.4

4.24.34.95.15.2

5.35.66.16.05.8

6.36.76.66.36.7

Oper-ators'totalnet

incomeper

farm

Totalnet

incomefromall

sourcesper

person

Dollars

943

650506305382434

778643911675697

7201,0441,6001,9421,967

2,0802,5742,6483,0652,259

2,4792,9512,8292,5022,440

2,3132,3382,4262,9902,530

(8)

(5)(5)(5)(5)

165

244228296239249

262349509654696

720806825962767

838983962931916

883897933

1,043960


(8)(5)(')(fi)

(•)(8)(•)W

0)(5)(«)(8)

(8)(8)(5)(6)

(6)(5)(8)(•)

(')(5)(5)(8)

(•)(8)(5)(8)

(8)(s)(5)(8)

38.338.038.438.5

38.237.335.536.6

(8)(5)CO(8)(8)(5)(8)(8)

24.925.225.225.3

25.725.826.026.2

13.412.813.213.2

12.511.59.5

10.4

14.613.914.214.1

13.212.110.311.4

(5)(5)(5)(5)

(s)(5)(5)(5)

3,0702,9302,9902,970

2,8402,6002,2202,450

(5)(8)(5)(8)

(»)(8)(5)(5)

1 Net farm income plus wages received by farm resident workers, not shown separately.2 Cash receipts from marketings; Government payments; and nonmoney income furnished by farms

(value of farm products consumed in farm households and gross rental value of farm dwellings).3 Gross farm income less production expenses.4 Data prior to 1946 differ from farm proprietors' income shown in Tables D-9 and D-12 because of re-

visions by the Department of Agriculture not yet incorporated into the national income accounts of theDepartment of Commerce.

s Not available.6 Preliminary.


Source: Department of Agriculture.

229


TABLE D-66.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-^59

[1910-14=100]

Period

1929

19301931 . .193219331934

193519361937 .1P3&1939

1940194119421943 .-1944

19451946 .194719481949

19501951195219531954

19551956195719581959.

1958:JanuaryFebruaryMarch..AprilMayJune

July .AugustSeptember. __ .OctoberNovember.. _.December

1959:JanuaryFebruary ... .MarchAprilMayJune

JulyAugustSeptemberOctober _NovemberDecember

Prices received by farmers

Allfarmprod-ucts^

148

12587657090

1091141229795

100124159U93« 197

62076236276287250

258302288255246

232230235250240

241245257257256250

250248255249247244

245243244244245242

240239239235230228

Crops

Allcrops i

135

11575577198

1031081188082

90108145187199

202228263255224

233265267240242

231235225223221

214218232239232223

222221228221218213

215218220223230229

226221220219216217

Foodgrains

116

9356446690

971081207572

8497120148166

172201271250218

224243244234232

228224225208202

219221225225222199

192192196201201199

199203205205205199

200201198203206206

Feed grainsand hay

Total

118

10674485795

1071031257172

8592115152172

167202256258177

193226234206203

183182166154156

143145149159161164

163160157149143151

152154155161163163

161159156149150149

Feedgrains

124

10971445797

1121101357372

8694117156175

168212275273176

198237242212209

187186169156157

143145150163165170

169165161151143152

153155157164167168

164161157148149146

Cot-ton

150

104644968101

9899947074

83111156167172

179238274272246

282336310268274

272268263253264

231211220236246246

260281292281273256

238238254264269266

287281280274260254

To-bacco

171

1409884107156

171163200173152

134157247319348

360376374380398

402436432433443

437452466482504

476475475474474474

474478485499498504

499505505508508509

503504510505504491

Oil-bear-ingcrops

143

111734457103

1271201299596

103138183202222

228260363351242

276339296279304

249255244225219

228225230234233234

228230217212210214

218221223225230228

222214204208216215

Livestock and products

Alllive-stockandprod-ucts i

159

13498727081

114119126112107

109138171198196

211242288315272

280336306268249

234226244273255

264269278272276272

274272278274273270

270265264261258252

252254256248243238

Meatani-mals

155

13391635968

115118130113110

108143186203190

62076248329361311

340409353288283

246235275334312

306319335339352348

348337340333329328

328322327336338329

314314307291275264

Dairyprod-ucts

166

1421118687101

114125131115110

120140163

61986222

62296268273301252

249286303267246

247255259254254

268263254239231227

238248263270272270

264258249240232229

239251265273279274

Poul-tryandeggs

161

12898817489

11611511111096

98122152191177

198201223242221

186228206221178

191176162169142

174172187175173169

167165171162161155

161159154135126124

139139143138139148


230


TABLE D-66.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-59—Continued

[1910-14=100]

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

1950 _ -1951195219531954

1955 _.1956195719581959

1958:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1959:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Prices paid by farmers

Allitems,in-

terest,taxes,andwagerates(parityindex)

160151130112109120124124131124123124133152171182

190208240260251

256282287277277

276278286293298

290291293294295294

293293294294294295

298297298299299298

298297297296297297

Commodities and services

Allitems

150140119102104118123123130122121122130149165174

179197230250240

246271273261262

259260267273275

270271273274275274

274274274274274274

276275276276276276

275275274275275275

Fam-flyliving

items

154144124106108122124124128122120

121130149166175

182202237251243

246268271269270

270274282287289

285286287288288287

287287286287288287

288288287287288289

289288288290291291

Production items

Allproduc-tion

items l

1461351139999114122122132122121

123130148164173

176191224250238

246273274256255

251250257264266

259260263265266265

265264265265263265

268267267269268267

266266265264264264

Feed

136

122866473103

1061091249393

100108132156173

172200236250206

210236251227226

211206201198199

191192196200203202

203203199196192199

202202200203202199

199198195194195195

Motorve-

hicles

148144143141140148

150157162172165

163172186195211

218224260291320

320342358355355

358367395412424

414

414

406

419

425

421

418

439

Farmma-chin-ery

153

152150142138144

148150153158155

153155164170174

176182206240270

275297308311312

312326342357372

349

357

360

362

365

371

377

376

Fer-ti-

lizer

130

12611410093105

10498103102101

9898109116118

120121134146150

144152156157158

155152153153152

154

153

151

152

In-ter-est2

213206197185164147135125117110106

10298948479

7574767882

8998108117126

136150163176194

176176176176176176

176176176176176176

194194194194194194

194194194194194194

Taxes 3

279281277254220188

178180181187185

189187189185185

192213237276298

320335350365381

394421440470496

470470470470470470

470470470470470470

496496496496496496

496496496496496496

Wagerates 4

1861771391048899107114129130127

129151197262318

359387419442430

425470503513510

516536558574612

567

567

666

594

610

~~~620

618

"~602

Par-ity

ratio »

928367586475

8892937877

8193105113108

109113115110100

1011071009289

8483828580

838488878785

858587858483

828282828281

818080797777

1 Includes items not shown separately.2 Interest payable per acre on farm real estate debt.3 Farm real estate taxes payable per acre (levied in preceding year).4 Monthly data are seasonally adjusted.5 Percentage ratio of prices received for all farm products to parity index.6 Includes wartime subsidy payments.Source: Department of Agriculture.

533287 0—60 16 2 31


TABLE D-67.—Farm production indexes, 1929-59

[1947-49=100]

Period

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 4_ .

Farmout-put J

74

7279767060

7265827979

8285969497

959895104101

101104108109109

113114114125125

Crops

Total 2

79

7684807158

7664888382

8587979196

939893106101

9799104103101

105106106118118

Feedgrains

83

7384957348

8053878483

859110496100

9710181116103

10497103101106

112112122134142

Hayandforage

88

7579867967

9674879893

105106115109108

1121041029999

106110106109108

115109122124115

Foodgrains

66

7276624544

5352727561

6776806985

899210810389

83821059685

80847911793

Vege-tables

78

7980807784

8580868685

88899510398

10011197103100

102959610198

102109104107103

Fruitsandnuts

76

7594767772

91729585101

9610210187101

9211010495101

101103100101102

102107103114117

Cot-ton

104

98119919168

75871338483

8875908086

636183105112

7010610611596

103937781103

To-bacco

75

8176496854

6558786993

7263706996

981141049898

101116112102111

109108838689

Oilbear-ingcrops

21

2323211821

3427303647

5661929882

888491109100

115106104103116

128152147182161

Livestock and products

Totals

77

7880818275

7277767985

8792102110105

10410110097103

107112112114117

120122121125128

Meatani-mals

77

7882838673

6674717788

8994108120108

10310110097103

109117117116121

127123119124130

Dairyprod-ucts

82

8486868785

8687868990

929610099101

10310210198101

101100100105107

108110111111110

Poul-tryandeggs

63

6563636259

5963636570

707789102102

106999896106

111116117120125

123136137145149

1 Farm output measures the annual volume of farm production available for eventual human use throughsales from farms or consumption in farm households. Total excludes production of feed for horses and mules.

2 Includes production of feed for horses and mules and certain items not shown separately.3 Includes certain items not shown separately.4 Preliminary.Source: Department of Agriculture.

232


TABLE D-68.—Selected measures of farm resources and inputs, 1940—59

Year

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959 s

Croplandharvested(millionsof acres)1

Total

339342346356361

354351354356360

345344349348346

340326326328332

Exclu-sive ofuse forfeed forhorsesandmules

296302307319325

322322328332338

326326334335335

330317318321326

Live-stockbreed-ingunits(1947-49=100) 2

9594104117114

1081071039899

102103102100104

106104102100104

Man-hoursof

farmwork(bil-lions)

20.520.020.620.320.2

18.818.117.216.816.2

15.115.214.413.913.1

12.812.111.411.111.1

Index numbers of inputs (1947-49=100)

Total

9797101101101

999999100101

101104104103102

102102100101(6)

Farmlabor

122120123121120

11310810310097

9091868378

76726866

(6)

Farmreal

estate 3

9898969493

939698101101

103104105105106

106105105105(6)

Me-chani-cal

powerandma-

chinery

5861666970

748089100111

118127133134135

136137138137(6)

Ferti-lizerandlime

4852586675

78929798105

118126139143152

156158163166(6)

Feed,seed,andlive-stockpur-

chases 4

6365808890

1019710210197

101112113112115

120128130141(6)

Miscel-laneous

9394959797

97989997104

108112112115115

120124122127

(6)

1 Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens. Differsfrom series in Table B-20, which is a Census land area concept.

2 Animal units of breeding livestock, excluding horses and mules.3 Includes buildings and improvements on land.4 Nonfarm inputs associated with farmers' purchases.5 Preliminary.6 Not available.Source: Department of Agriculture.

233


TABLE D-69.—Farm population, employment, and productivity, 1929-59

•Period

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 7 _ _

Farm popu-lation

(April 1) i

Num-ber

(thou-sands)

30, 580

30, 52930, 84531, 38832, 39332, 305

32, 16131, 73731, 26630, 98030, 840

30, 54730, 27329, 23426, 68125, 495

25, 29526, 48327, 12425, 90325, 954

25, 05824, 16024, 28322, 67922, 099

22, 43822, 36221,60621, 38821, 172

As per-cent oftotalpopu-

lation 2

25.1

24.824.825.125.825.5

25.324.824.223.823.5

23.122.721.719.518.4

18.118.718.817.717.4

16.515.715.514.213.6

13.613.312.612.312.0

Netmigra-tion to

andfromfarms(thou-

sands) 3

-477

-61156607

-463-527

-799-834-661-545-703

-633-1,424-2, 975-1,563

-564

864151

-1,686-371

-1,314

-1,302-271

-1, 996-1,171

-91

-256-2, 236

93(6)(8)

Farm employment(thousands) 4

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

9,9269,5469,1498,8648,639

8,3647,8207,5777,5257,384

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

7,5977,3107,0056,7756,579

6,3475,8995,6825,5705,459

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

2,3292,2362,1442,0892,060

2,0171,9211,8951,9551,925

Farm output

Perunit

oftotalinput

Per man-hour

Total Crops' Live-stock

Croppro-duc-tionper

acre 5

Live-stockpro-

ductionper

breed-ing

unit

Index, 1947-49=100

76

7482827770

8273878784

8588959396

969996

104100

100100104106107

111112114123

(6)

54

5356565250

5753626464

6771787881

849192

104104

112114126131140

149158168188189

51

5054555048

5750606363

6771787679

859291

104105

114112125129138

148161180203(6)

76

7675757369

7073737679

8082889290

91949799

104

107114117120124

130136138144

(6)

79

7583797159

7665888585

8890999296

9510195

10699

9798

104103101

106109112126123

84

8586858477

8486879191

9298989492

96949799

104

105109110114112

113117119125123

1 Farm population as denned by Department of Agriculture and Department of Commerce, i.e., civilianpopulation living on farms, both urban and rural, regardless of occupation.

2 Total population of United States as of July 1, excluding Alaska and Hawaii; includes armed forces abroad.3 Net change for year beginning in April, estimated by Department of Agriculture. For 1940 and sub-

sequent years, includes inductions and enlistments into the armed forces, and persons returning from thearmed forces. For all years, includes persons who have not moved but who are in and out of the farm popu-lation because agricultural operations have begun or have ceased on the place where they are living.

* Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Agricultural Marketing Service, differ from those on agricultural employment by the Departmentof Labor (see Table D-17) because of differences in the method of approach, in concepts of employment,and in time of month for which the data are collected. For further explanation, see monthly report onFarm Labor, September 10, 1958.

« Computed from variable weights for individual crops produced each year.« Not available.7 Preliminary.NOTE.—Farm population figures have been revised for 1954-58. A similar revision of net migration

data for 1953-57 is in process, but not yet completed. Therefore, the two series are not strictly comparablefor the periods mentioned.

Sources: Department of Agriculture and Department of Commerce.

234


TABLE D-70.—Selected indicators of farming conditions, 1929-59

Year

1929 . .

19301931193219331934

19351936193719381939--.

19401941194219431944

19451946 . .19471948 -1949

19501951 -195219531954

19551956 --19571958 -1959 7

Numberof farms(thou-sands)

6,512

6,5466,6086,6876,7416,776

6,8146,7396,6366,5276,441

6,3506,2936,2026,0896,003

5,9675,9265,8715,8035,722

5,6485,5355,4215,3085,201

5,0874,9694,8564,7494,645

Value of production assets(dollars) i

Current prices

Perfarm

(6)

(6)(6)(6)(c)(6)

(6)

88

6,0946,3407,4498,934

10,328

11, 34612, 43514, 15415,90617, 144

16, 97920, 43423, 20622, 94622, 592

23, 80625, 05527, 18329,60633, 455

Perfarm-

worker

(6)

(6)

8(6)(6)

(6)

88

3,4133,6344,3305,1795,935

6,6257,3708,0728,8909,466

9,62511, 39413, 17813, 31313, 256

14,01814, 88616, 88018, 50320, 651

1947-49 prices

Perfarm

(6)

(6)(6)(6)(6)(6)

(6)(6)(6)(6)(6)

13, 11813, 44414,07614, 74815,042

15, 10015, 15115,36415, 50916, 480

16, 97917, 74218, 42819, 00919, 631

20, 30621, 09121, 52022, 06823, 165

Perfarm-

worker

(6)

(6)(6)

8(6)

(6)(6)(6)(6)(6)

7,3477,7068,1838,5498,644

8,8178,9808,7628,6789,100

9,6259,893

10, 46511, 02911,519

11,95712, 53013, 36313, 83114,299

Investmentduring year

in farm plantand equipment

(millions ofdollars)

Gross

966

717408194189376

560756903685774

8721,1991,202

9181,488

1,5332,0353,2454,3164,492

4,5944,8254,6964,7854,230

4,2293,8633,9554,4404,874

Net 2

50

-238-448-540-455-274

-10428

107-148

-7

76325

-168-485

25

193811

1,6412,2572,064

1,8581,5991,2971,265

614

50714170

452712

Realestate

debt aspercentof value

(percent) 3

20.3

20.121.524.527.523.9

22.821.720.319.819.9

19.618.917.014.311.2

9.27.87.26.96.9

7.47.07.07.58.2

8.48.89.19.09.0

Fore-closurerate per

1,000farms <

15.7

18.728.438.828.021.0

20.318.114.313.412.5

10.46.14.33.01.9

1.51.11.01.21.4

1.51.61.31.72.0

2.32.01.71.6

(6)

Percentof allfarms

havingcentralstation

electricalservice 5

(6)

(6)(6)(6)(6)(6)

10.912.315.819.122.1

30.434.938.340.342.2

45.754.361.068.678.2

77.284.288.190.892.3

93.494.294.895.496.0

1 Farm real estate less value of dwellings; livestock; crops held for feed; machinery; farm share of valueof automobiles; and demand deposits used for production. Data are for January 1.

2 Gross investment less depreciation and other capital consumption.3 Data are for January 1.4 Data are for year ending March 15 of the year following that indicated.s Data are for June 30, except for Census of Agriculture years: 1935 (January 1), 1940 (April 1), 1945

(January 1), and 1950 (April 1).6 Not available.? Preliminary.


235


TABLE D-71.—Comparative balance sheet of agriculture, T940-60


Beginningof period

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

1960S

Assets

Total

53.055.162.573.383.8

93.1102.0113.9125.2132.1

130.8149.6165.6162.9159.7

164.7168.3176.4186.4203.1

208.2

Realestate

33.634.437.541.648.2

53.961.068.573.776.6

75.386.896.096.694 7

98.8102.7109.5116.3125.1

128.6

Other physical assets

Live-stock

5.15.37.19.69.7

9.09.7

11.913.314.4

12.917.119.514.811.7

11.210.711.114.118.1

(0

Ma-chin-eryand

motorvehi-cles

3.13.34.04.95.3

6.35.25.17.09.4

11.313.015.215.616.3

16.216.717.117.418.4

W

Crops i

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

9.68.38.37.69.4

(<)

House-holdfur-

nish-ingsand

equip-ment2

4.34.34.54.64.6

4.74.85.46.27.0

7.88.79.5

10.210.8

11.411.912.412.813.1

C4)

Financial assets

Depos-its

andcur-

rency

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

(«)

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

(<)

Invest-mentin co-opera-tives

0.8.9.9.0.1

.2

.4

.5

.7

.9

2.12.32.52.72.9

3.13.33.53.63.8

(0

Claims

Total

53.055.162.573.383.8

93.1102.0113.9125.2132.1

130.8149.6165.6162.9159 7

164.7168.3176.4186.4203.1

208.2

Realestatedebt

6.66.56.46.05.4

4.94.84.95.15.3

5.66.16.77.37 8

8.39.19.9

10.511.3

12.0

Otherdebt

3.43.94.14.03.5

3.43.23.64.26.1

6.97.07.98.89 3

9.59.89.69.7

12.0

12.0

Pro-prie-tors'equi-ties

43.044.752.063.374.9

84.894.0

105.4115.9120.7

118. a136.5151.0146.8142.6

146.9149.4156.9166.2179.8

184. 2

1 Includes all crops held on farms for whatever purpose and crops held off farms as security for CommodityCredit Corporation loans. The latter on January 1, 1959, totaled $1,877 million.

3 Estimated valuation for 1940, plus purchases minus depreciation since then.« Preliminary.4 Not available.


236


INTERNATIONAL STATISTICS

TABLE D-72.— United States balance of payments, 1953-59 l


Type of transaction

United States payments: Total

Imports of goods and services: Total .

Merchandise, adjusted, excludingmilitary

Transportation _TravelMiscellaneous services, excluding

military..Military expendituresIncome on investments:

PrivateGovernment

Unilateral transfers, net, excluding mili-tary: Total _ _

Government grants ._ . _ _Remittances and other transfers

United States capital, net: Total

Private, net: Total _

Direct investments, net.New issuesRedemptions0 ther long-term , netShort-term, net

Government, net: Total 'Long-term capital, outflow .RepaymentsShort-term, net _ _ _

United States receipts: Total.

Exports of goods and services* Total

Merchandise, adjusted, excludingmilitary

TransportationTravelMiscellaneous servicesM ilitary transactions _ _Income on investments:

Direct investmentsOther private _ _Government

Foreign long-term investments in theUnited States, net *

Net United States payments (— )

Increase in liquid dollar holdings by for-eign countries and international insti-tutions

United States gold sales or purchases (— ).

Errors qnd omissions

1953-55(annual

aver-age)

20, 502

16, 890

10, 9571,1041,030

6882,654

37780

2,401

1,795606

1,211

1,066

721236

-15141

219

145468

-470147

18, 610

18 345

13, 1201,263

608968192

1,693235266

265

-1,892

1,089

500

303

1956

25, 846

19, 829

12 8041,4081,275

8072 955

426154

2,398

1,733665

3,619

2,990

1,859453

-174324528

629545

-479563

24, 235

23 705

17, 3791,642

7051,210

158

2,120297194

530

-1,611

1,274

-306

643

1957

27, 374

20, 923

13 2911, 5691,372

8733 165

452201

2,318

1,616702

4,133

3,175

2,058597

-179441258

958993

-659624

27, 094

26, 733

19, 3901,999

7851,306

372

2,313363205

361

-280

330

-798

748

1958

27, 079

20, 951

12, 9461,5991,460

8543,416

537139

2,318

1,611707

3,810

2,844

1,094955-85574306

9661,272-647

341

23, 223

23, 199

16, 2271,650

8251,279

296

2,198417307

24

-3, 856

1,140

2,275

441

Firstquar-ter

6,513

5,422

3 604381257

199801

12852

619

433186

472

383

267163

-22147

-172

89287

3 -26365

5,456

5,381

3,798386170318

74

46810859

75

-1,057

744

96

217

1959

Secondquar-

ter

8,962

5,992

3 885470415

208821

13459

575

390185

2,395

752

450115

-3615469

1,6432 1, 654

-116105

5,988

5,798

4,06143422432288

48812160

190

2-2,974

1,876

741

357

Thirdquar-

ter

7,343

6,162

3 852455612

263765

14174

529

331198

652

431

291170

-1242

-60

221205

-134150

6,017

5,883

4,032457286330

57

53611372

134

-1,326

1,031

167

128

1 Excludes transfers of goods and services under military grant programs.> Includes $1,375 million for increase in United States subscription to the International Monetary Fund,

of which $344 million was in gold and $1,031 million in non-interest-bearing notes.3 Includes $150 million advance repayment by Germany on postwar debt to the United States.4 Excludes investment in U.S. Government securities.


237


TABLE D-73.—U.S. Government grants and credits, by areas and major countries, fiscal years1954-59


Area and country

Net new grants (excluding military supplies andservices)

Western Europe (excluding Greece and Turkey) _.

SpainYugoslavia . . _.

Other Europe

Near East (including Greece, Turkey, and UnitedArab Republic)

Greece --. _Iran ._JordanLebanon ._ . . . _ _Turkey

Other Africa (excluding United Arab Republic). .

LibyaTunisia

South Asia - -

IndiaPakistan

Far East and Pacific -

CambodiaChina-TaiwanKorea _ _ . . _ _ . .Laos _ _ _ ._ _ThailandVietnam

American Republics

Other international organizations and unspecifiedareas

New credits

Western Europe (excluding Greece and Turkey) ._

ItalySpain. . ...Yugoslavia..

Other Europe (Poland)


GreeceIran _ _Israel _Turkey

Other Africa (excluding United Arab Republic) ._

South Asia.

India . . .Pakistan

Far East and Pacific

Japan . .

Fiscal years

1954

1,597

823

142

14

253

606854

39

7

30)114

3083

310

(077

1510)

51

34

41

624

166

424

0)

0)

6

0)0)

50)

49

2

0)0)117

95

1955

1,989

909

2672

10

257

4856157

53

15

101

102

6730

582

1582

238286

159

54

59

448

M12

W 60)

0)

37

0)3061

50

7

31

81

59

1956

1,714

453

4240

0)

238

412964

83

19

131

169

7492

696

2892

2983725

169

77

62

487

41

132

0)

0)

89

23122925

34

53

3115

188

117

1957

1.719

296

5046

9

231

394995

74

37

227

107

4749

845

4196

3174933

246

96

98

445

29

1310

0)

0)

56

3131916

28

37

1810

143

102

1958

1,548

195

5022

2

157

1515356

33

41

129

150

5364

788

3961

3273824

222

118

96

1,135

3359

507

0)20

126

27243935

32

78

2348

175

110

1959

1,630

144

3338

2

378

31226432

173

79

2135

161

4790

654

2468

2932639

152

109

103

1,276

250

3755

131

26

100

944461

22

126

5862

154

104


238


TABLE D-73.—U.S. Government grants and credits, by areas and major countries, fiscal years1954-59—Continued


Area and country

New credits —Continued

American Republics

ArgentinaBrazilChile.ColombiaMexicoPeru - _ _ _

Other international organizations and unspecifiedareas.. _

Principal repayments

Western Europe (excluding Greece and Turkey) —

France - _GermanyUnited Kingdom

Other Europe

Near East (including Greece, Turkey, and UnitedArab Republic) __ __

Other Africa (excluding United Arab Republic) .._

South Asia ._

India . .Pakistan __


Japan

American Republics


Net short-term assistance through sale of agriculturalcommodities4

Western Europe (excluding Greece and Turkey) ._

ItalySpain .-Yugoslavia

Other Europe (Poland)


GreeceIsraelTurkey

Other Africa (excluding United Arab Republic)-..

South Asia

India . . . . _.Pakistan


IndonesiaJapan _ -Korea

American Republics

Fiscal years

1954

276

2217

37

257

8

501

361

2271253

4

17

11

(0

0)0)

35

15

60

13

11788

31925

0)

1

(1)i0)

0)

0)

0)0)

27

0)22

0)

0)

1955

158

1106

20)

28(')

4

460

224

816

56

5

13

8

0)

0)0)

100

87

106

4

259122

193873

0)

59

191525

0)

11

100)

60

0)1525

8

1956

83

0)390)0)

1010

0)

508

265

921972

5

15

10

2

20)

72

60

125

14

399226

174479

(')

48

96

11

('.)

17

215

27

0)11

-10

82

1957

152

0)7751

1433

0)

640

284

6632

108

5

13

18

107

9611

88

61

121

2

848298

868090

0)

94

201556

0)

261

17185

163

74-454

32

1958

346

295045805552

0)

519

206

69385

3

23

24

45

3114

85

63

132

2

32515

-462552

78

22

-233

44

7

213

18430

-15

16-22-2

5

1959

600

7623042678361

0)

668

380

521265

4

24

28

1

(01

92

65

137

2

170-30

-2735

-43

56

-26

-88

-40

0)

199

216-23

-21

5-7

-36

-6


239


TABLE D-73.—U.S. Government grants and credits, by areas and major countries, fiscal years1954-59—Continued


Area and country

Net military grants 8 _.

Western Europe (excluding Greece and Turkey) 5 _

Near East and Africa (including Greece andTurkey)

Far East and Pacific-..

American Republics.


Fiscal years

1954

3,497

2, 326

381

726

45

19

1955

2,531

1,583

289

596

43

20

1956

2,998

1,818

387

732

38

23

1957

2,311

1,197

393

626

72

25

1958

2,398

799

622

877

73

26

1959

2,162

722

554

810

50

26

1 Less than $500,000.2 Includes $100 million mutual security program loan to European Coal and Steel Community.3 Includes $250 million Export-Import Bank loan to the United Kingdom, repaid in October 1959.4 Gross sales (currency claims acquired) less currencies used by U.S. Government.8 Includes cash contributions to the multilateral construction program of the North Atlantic Treaty

Organization, some part of which may be in Greece and Turkey as NATO members.

NOTE.—Area totals include data not shown separately.Detail will not necessarily add to totals because of rounding.Source: Department of Commerce.

240


TABLE D-74.—United States imports of miscellaneous consumer manufactures, 1953-59 l


Product

Total

Leather articles — footwear, gloves, luggage, etc.-Rubber articles — footwear, toys, balls, etc.Nursery and greenhouse stockFur and felt apparel

Furniture and household notions -Glassware, mirrors, etcPorcelain, earthenware, and chinaGem diamonds

Precious stones, excluding diamonds _Jewelry and plated wareCutlery, flatware, hand tools, etc.Aluminum, brass, and bronze ware ._

Electric home appliances, radios, etc.Sewing machines and partsMotorboats, motorcycles, and bicyclesSoap and toilet preparations

Photographic goodsScientific and professional instrumentsMusical instrumentsDolls, toys, and sporting goods

Firearms and partsBooks, maps, etc.Clocks, watches, and partsArtworks and antiques _ . _ _ _

Tobacco manufacturesMiscellaneous goods _

1953

620

262

143

281130

108

23171927

525276

258

1717

10198522

343

1954

653

281

143

321334

123

24182624

623367

20101720

13226727

342

1955

788

352

133

401740

152

27243230

731448

27141828

9236642

353

1956

891

474

144

472447

162

29253928

1333449

33172139

8307536

360

1957

953

547

154

542451

142

30254628

2535439

43202246

9397844

555

1958

919

6015144

512341

142

27233533

3729478

41201942

9346051

549

January-September

1958

639

4310113

36153098

18162824

2320345

30141330

6244032

333

1959

879

5644114

462443

135

25223327

5329408

36171944

8294941

333

1 Excludes manufactured foodstuffs, passenger cars, and wearing apparel.


241


TABLE D-75.—Estimated gold reserves and dollar holdings of foreign countries and internationalinstitutions, selected periods, 1952-59

[Millions of dollars; end of period]

Total

Continental Western Europe

AustriaBelgium- Luxembourg (and Belgian Congo) ...France (and dependencies)Germany - - - - _ . _ _ItalyNetherlands (and Netherlands West Indies

and Surinam) ...Scandinavian countries (Sweden, Norway,

Denmark, and Finland) ' ._ ._SwitzerlandOther

Sterling area - .

United Kingdom .Other

Canada... ._ .

Latin America

ArgentinaBrazil . ._ .ChileColombia - .Cuba _.MexicoPeru - --.VenezuelaOther

Asia

Japan _ _. _ .Other

All other countries

International institutions . _ _

24 451

8 651

1491,0271 141

691665

824

6062 0991,449

3,473

2,514959

2,627

3 432

428392121194543380107521746

2,376

9311,445

345

3,547

29 304

11 888

3471,0541 4671 999

935

1,123

7452 2231,995

4,448

3,4061,042

2,709

3 819

531444113308547395118600763

2,236

8501,386

340

3,864

32 621

14 433

3771,2391 5123 3431,270

1,080

8822,6432,087

4,157

3,0151,142

2,996

4 313

370550138210514604119

1,061747

2,812

1,1491,663

375

3,535

32 703

15 076

4601,192

9554 1131,533

1,058

9802 8131,972

4 247

3,0801,167

3,180

4 544

26345711621552556988

1,556755

2,340

7161,624

397

2,919

36 913

17 868

6121,5281 1464 4072 209

1 512

1 1212 8532 480

5,131

3,9171,214

3,438

4 123

21046414024145256596

1,215740

2,644

1,0951,549

338

3,371

1959

Sep-tember1

41 984

19 494

6921,491

2 2 0774 0502 959

1,737

1,1662 8952 427

5 465

4,2201,245

3,734

4 077

325496212263359562107

1,000753

3,193

1,4211,772

376

5,645

1 Preliminary.2 Includes repayment to Bank of France of $286 million in gold loaned by Bank to French Exchange

Stabilization Fund in June 1957.NOTE.—Includes gold reserves and dollar holdings of all foreign countries with the exception of gold

reserves of U. S. S. R. and other Eastern European countries, and of international institutions (InternationalBank for Reconstruction and Development, International Monetary Fund, United Nations and others).Holdings of the Bank for International Settlements (both for its own and EPU account) and of the Tripar-tite Commission for Restitution of Monetary Gold are included under "other" Continental WesternEurope.


242


TABLE D-76.—Price changes in international trade, 1956-59

[1953=100]i

Trade sector

United States, foreign traded

ExportsFoodstuffs - _ _Industrial materialsFinished manufactures

Imports for consumptionFoodstuffsIndustrial materials _. _ .. _.Finished manufactures

World trade: 3

Industrial countries: Exports ._Other countries: Exports ..-

Latin AmericaE xcluding petroleum

Commodity classes:

M anuf actured goods * _ _Nonferrous base metals *

Primary commodities 5

Foodstuffs5 _ - _ . _ _Coffee, tea, cocoa 6

Other agricultural commodities 5. .Wool 8

Minerals 8 __ _.Metal ores *

1956

10488

109104

1049994

100

102999896

103123

10197

10010187

109110

19

Firstquar-ter

10488

111104

10497

109100

1051009998

106110

10610199

104101119112

57

Thirdquar-ter

10488

108105

104100107100

105999592

10796

1019797

10197

111105

19

Firstquar-ter

10789

103114

10299

103101

104959288

10885

9793979378

10998

58

Thirdquar-ter

10689

100112

9996

100100

102938884

10690

9695958966

10899

Firstquar-ter

10788

102115

9889

100100

101908478

10698

9289818961

10499

1959

Secondquar-ter

10787

102114

9890

10199

101908175

10698

9387809574

10299

Thirdquar-ter

10785

102115

9889

102100

10191

10698

9489809578

10299

1 Data shown for United States foreign trade and for country groups and for manufactured goods in theworld trade section of the table are unit value indexes. All others are price indexes.

For description of world trade indexes by commodity classes, see "Methods Used in Compiling theUnited Nations Price Indexes for Basic Commodities in International Trade," Statistical Papers, SeriesM, No. 29, United Nations, New York.

2 The series shown for foodstuffs is the weighted average of the two commodity classes, crude foodstuffsand manufactured foodstuffs. The series shown for industrial materials is the weighted average of thetwo commodity classes, crude materials and semimanufactures.

3 Excludes trade of U. S. S. R. and Soviet bloc countries.« Exports.' Exports and imports.Sources: Department of Commerce and United Nations.

243U. S. GOVERNMENT PRINTING OFFICE: I960 O—533287


erp tables 1960 4

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