the BUSINESS SITUATION - Bureau of Economic Analysis

November 1965
National income
Table 2.—-National Income by Type of Income
Compensation of employees. _ _
Wages and salaries _ _
Private
Military
Government civilian
Supplements to wages and salaries.
Employer contributions for
social insurance
Other labor income
Employer contributions
to private pension and
welfare funds _
Other
Proprietors' income
Business and professional
Income of unincorporated enterprises
-
Inventory valuation adjustment
Farm . __ .
Rental income of persons
Corporate profits and inventory valuation
adjustment
Profits before tax
Profits tax liability. —
Profits after tax
Dividends __
Undistributed profits
Inventory valuation adjustment..
Net interest
[Billions of dollars]
1962
457.7
323.6
296.1
240.1
10.8
45.2
27.5
13.7
13.9
11.4
2.5
50.1
37.1
37 1
0
13.0
16.7
55.7
55.4
24.2
31.2
15.2
16.0
.3
11.6
1963
481.1
341.0
311.2
251. 6
10.8
48.8
29.8
15.0
14.8
12.1
2.7
50.8
37.8
37 8
o
13.0
17.6
58.1
58.6
26.0
32.6
15.8
16.8
-.4
13.6
1964
514.4
365.3
333. 5
269. 2
11.7
52.6
31.8
15.4
16.5
13.5
2.9
51.1
39.1
39 1
o
12.0
18.2
64.5
64.8
27.6
37.2
17.2
19.9
-.3
15.2
SURVEY OF CURRENT BUSINESS
1964
III IV
1965
I II III
Seasonally adjusted at annual
rates
519. 5
369.0
336.8
271.7
11.7
53.3
32.2
15.5
16.7
51.4
39.4
12.0
18.3
65.5
65.3
27. 8
37.5
17.4
20.1
.2
15.4
526.3
342.6
276.5
11.9
54.3
32.7
15.7
17.1
51.8
39.6
12.2
18.5
64.9
65.9
28.1
37.8
17.7
20.0
-1.0
15.7
541. 4
349.8
282.9
11.8
55.0
33.4
16.1
17.3
51.9
39.9
12.0
18.5
71.7
73.1
29.1
44.0
17.8
26.2
-1.4
16.1
550.3 1 558. 4
375.4 383.1 388.7 395.2
355. 0
287.3
ai.s
55.9
33.8
16.3
17.5
54.6
40.1
14.5
18.6
72.0 173.3
73.7
29.4
44.4
18.2
26.1
-1.7
16.4
360.9
291. 9
12.3
56.7
1. Third quarter 1965 national income total and the corporate profits share are based on
preliminary estimates and are subject to revision in next month's SURVEY.
Gross national product. __
Final sales
Inventory change
Goods output _ _ _
Final sales
Inventory change
Durable goods output
Final sales.
Inventory change _ _
Nondurable goods output
Final sales _
Inventory change
Services
Construction '__
Addendum: Auto product
34.2
16.5
17.7
54.6
40.4
14.2
18.6
74.4
29.6
44.8
18.6
26. 2
-1.1
16.7
Personal income.
Table 3.—Personal Income and Its Disposition
Wage and salary disbursements...
* Commodity-producing industries
__
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income
Business and professional...
Farm _
Rental income of persons
Dividends
Personal interest income *.
Transfer payments
Old-age and survivors insurance
benefits
State unemployment insurance
benefits __-.
Veterans' benefits
Other
Less: Personal contributions for
social insurance
Less: Personal tax and nontax payments
_
Equals: Disposable personal income...
Less: Personal outlays
Personal consumption expenditures
Interest paid by consumers.
Personal transfer payments
to foreigners
Equals: Personal saving
Addendum: Disposable personal income
in constant (1958) dollars
f Billions of dollars]
1962
442.6
296.1
120.8
96.7
72.5
46.8
56. 0
13.9
50.1
37.1
13.0
16.7
15.2
27.7
33.3
14.3
2.9
4.8
11.2
10.3
57.4
385.3
363.7
355.1
8.1
.5
21.6
367.6
1963
464.8
311.2
125.7
100.6
76.0
49.9
59.6
14.8
50.8
37.8
13.0
17.6
15.8
31.1
35.2
15.2
2.8
5.0
12.1
11.8
60.9
403.8
383.4
373.8
9.0
.6
20.4
380.6
1964
333.5
133. 9
107. 2
81.1
54.1
64.3
Table 4.—Gross National Product by Major Type of Product in Current and Constant Dollars
1962 1963 1964
560.3
554.3
6.0
284.5
278. 5
6.0
109.0
106.2
2.8
175.5
172.2
3.2
213.3
62.6
22.5
589.2
583.5
5.7
296.8
291.1
5.7
115.9
113.1
2.8
181.0
178.1
2.9
226.9
65.5
25.0
628.7
623.9
4.8
316.1
311.3
4.8
126. 1
122.8
3.3
190.0
188.4
1.5
244.0
68.6
25.9
1964
III iy
1965
I II III
Seasonally adjusted at annual rates
Billions of current dollars
634.8
631.0
3.8
319.8
, 316. 0
3.8
128.1
125.4
2.7
191.7
190.6
1.1
246.4
68.6
26.4
641.1
633.6
7.5
323.3
315. 8
7.5
128.8
124.3
4.4
194.6
191.5
3.1
249.7
68.1
23.4
656.4
647.6
8.7
332.6
323. 8
8.7
138.1
130.9
7.1
194.5
192.9
1.6
254.2
69.6
32.3
665.9
659.2
6.7
337.2
330.5
6.7
138.5
132.3
6.2
198.7
198. 2
.5
257.8
70.9
31.1
677.5
671.3
6.1
344.3
338. 2
6.1
141.8
136.0
5.9
202. 5
202.3
.2
262.0
71.1
30.6
1962 1963 1964
530.0
524.0
6.0
277.5
271. 5
6.0
107. 0
104.1
2.8
170.5
167. 4
3.1
193.7
58.8
22.0
550.0
544.4
5.7
288.3
282.6
5.7
114.0
111.2
2.8
174.3
171. 4
2.9
201.5
60.2
24.7
577.6
16.5
51.1
39.1
12.0
18.2
17.2
34.3
36.6
16.0
2.6
5.3
12.7
12.4
59.2
435.8
409.5
398.9
10.0
.6
26.3
406.5
1964
III IV
1965
I II III
Seasonally adjusted at annual
rates
495.0 499.1 507. 1 516.6 524.9 535.9
1964
336.7
135.2
108.4
81.9
54.6
65.0
16.7
51.4
39.4
12.0
18.3
17.4
34.8
36.4
16.1
2.5
5.3
12. 5
12.5
58.8
440.3
415.3
404.6
10.2
.5
25.0
410.7
III IV
342.7
137.4
110.0
83.2
55.9
66.2
17.1
51.8
39.6
12.2
18.5
17.7
35.3
36.7
16.3
2.4
5.3
12.7
12.7
60.7
446.4
416.9
405.9
10.4
.6
29.5
414.5
349.8
141.4
113.6
84.9
56.6
66.8
17.3
51.9
39.9
12.0
18.5
17.8
36.0
38.4
16.6
?.4
5.5
13.9
13.1
64.8
451.9
428. 1
416.9
10.6
.6
23.8
418.4
1965
355.0
143.3
115.0
86.4
57.6
67.7
17.5
54.6
40.1
14.5
18.6
18.2
36.7
37.5
16.6
9.2
5.6
13.1
13.1
66.0
458.9
436.0
424.4
11.0
.6
23.0
422.2
I II III
Seasonally adjusted at annual rates
Billions of 1958 dollars
573.0
4.6
304.6
300.0
4.6
123.1
120.0
3.1
181.5
180.0
1.5
211.5
61.4
25.5
582.6
578.8
3.8
308.4
304.7
3.8
125. 2
122.5
2.7
183.2
182.1
1.1
213.0
61.1
25.9
584.7
577.7
7.1
310.2
303. 1
7.1
125.5
121.2
4.3
184.7
181.9
2.8
214.3
60.3
23.2
597.5
589.0
8.6
319.2
310. 7
8.6
134. 6
127.6
7.0
184. 6
183. 0
1.6
216.8
61.5
31.9
601. 4
595.0
6.5
321.0
314. 5
6.5
134. 4
128.4
6.0
186.6
186.1
.5
218.3
62.1
30.8
360.9
145.7
117.2
87.5
58.8
69.0
17.7
54.6
40.4
14.2
18.6
18.6
37.5
41.2
20.4
2.2
5.6
13.1
13.4
64.6
471.3
444.1
432.2
11.3
•6
27.2
432.4
609.7
603.9
5.8
327.7
321.9
5.8
138.6
133.0
5.6
189.1
188.8
.3
220.7
61.3
30.7