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clined after July. Industrial activity in India and Yugoslavia continuedto expand rapidly, but this was not typical of less developed countriesas a whole. In Latin America, the total volume of mining output expandedappreciably, but manufacturing appears to have been only moderatelyhigher than in 1956\Although the growth of demand slackened in some countries, a slowerrate of increase in output was inevitable because, in a number of cases,industrial production had begun to crowd the physical limits set by existingplant capacity or by the supply of labor. Moreover, in response to the riseof prices and wages, the monetary authorities in most of the developedeconomies restricted credit, thereby restraining investment outlays. Inseveral countries, loss of foreign exchange reserves as the result of tradedeficits or speculative capital movements compelled policies of restraint.THE COURSE OF WORLD TRADETotal world exports (excluding those of the Soviet bloc) reached anannual rate close to $100 billion during the first half of 1957. In physicalterms, exports were 8 percent above those in the first half of 1956 and nearly40 percent above the same period of 1953 (Chart 13). In recent monthsthere has been little further expansion. Trade among the industrial countriesaccounted for most of the increase to mid-1957. In relative terms,however, some of the sharpest increases were in imports of certain of theless developed countries (Table 8). Most of this rise was in their trade withthe United States and other industrially developed countries.TABLE 8.—Changes in world trade, 1955—57ExportsImportsAreaJuly1956-June1957(billionsofdollars)PercentageincreaseFirst half1955 tofirst half1956First half1956 tofirst half1957July1956-June1957(billionsofdollars)PercentageincreaseFirst half1955 tofirst half1956First half1956 tofirst half1957World iNorthern North America 2Latin AmericaWestern Europe (OEEC countries).To or from other WesternEuropean countriesTo or from other areasOverseas territories of continentalWestern Europe _ _Outer sterling areaMiddle East 3Far East 3Other countries 394.924.18.638.319.718 62.812.02.24.72.212.216.810.612.211.313.06.85.924.514.22.210.918.72.111.812.910.7.74.53.412.48.4103.120.78.345.520.225.33.712.82.26.93.011.017.92.710.511.69.72.57.111.917.89.311.93.514.414.011.915.718.07.31.834.012.1» Excludes USSR and other members of the Soviet bloc.2 Exports exclude military aid shipments by United States and Canada.3 Excludes countries belonging to the sterling area.Sources: Department of Commerce, based on data from United Nations and Organization for EuropeanEconomic Cooperation.
CHART 13World and U. S. Foreign TradeBILLI120J. S. exports rose much faster than imports or total world traderom early 1956 to early 1957, but declined later in the year.ONS OF DOLLARS, 1953 PRICESSEASONALLY ADJUSTED ANNUAL RATES10080WORLD TRADE(MEASURED BYJ^_ MERCHANDISE EXPORTS) ^^ *N-^60o1 1 1 1 1 i 1 1 1 1 1i i i 1 i i i rBILLIONS OF DOLLARS, 1953 PRICES (ENLARGED SCALE)SEASONALLY ADJUSTED ANNUAL RATES20-1 816U.S. MERCHANDISE /EXPORTS X-1 41 21 0
Page 3 and 4: Economic Reportof the PresidentTRAN
Page 5 and 6: LETTER OF TRANSMITTALTHE WHITE HOUS
Page 8 and 9: commercial demands and reduce the f
Page 10: APPENDIXESPageA. Summary of Recomme
Page 13 and 14: present consumption standards. Even
Page 15 and 16: favored by temporary conditions or
Page 17 and 18: Federal fiscal policies were also d
Page 19 and 20: growth with reasonable stability of
Page 21 and 22: The decline which became apparent i
Page 23 and 24: CHART 2Shifts in Major Components o
Page 25 and 26: 1957 than in 1956, but in the secon
Page 27 and 28: though there was no significant inc
Page 29 and 30: CHART 4—ContinuedEmployment and I
Page 31 and 32: week was 39.3 hours and average ove
Page 33 and 34: CHART 5Price ChangesWholesale price
Page 35 and 36: CHART 6Consumer PricesAfter declini
Page 37 and 38: few decades and the still higher av
Page 39 and 40: CHART 7The Pattern of Credit Expans
Page 41 and 42: CHART 9Member Bank ReservesMember b
Page 43 and 44: CHART 10Interest Rates and Bond Yie
Page 45 and 46: CHART 11Indicators of Agricultural
Page 47 and 48: various forms. On dollar sales of w
Page 49 and 50: Because of the high level of privat
Page 51: TABLE 7.—World industrial product
Page 55 and 56: CHART 14U. S. Balance of PaymentsTh
Page 57 and 58: a still larger outflow of capital.
Page 59 and 60: Chapter 4Economic Opportunities and
Page 61 and 62: of the sources of strength for the
Page 63 and 64: The strength of our financial insti
Page 65 and 66: Chapter 5A Legislative Program To H
Page 67 and 68: growth and stability. Although Fede
Page 69 and 70: housing loans insured by the Federa
Page 71 and 72: directions, without sacrificing eit
Page 73 and 74: medical and dental teaching facilit
Page 75 and 76: standards and help maintain the inc
Page 77 and 78: funds, on financial dealings betwee
Page 79 and 80: on basic crops and dairy products.
Page 81 and 82: partners, and particularly on the s
Page 83: FEDERAL ECONOMIC STATISTICSA well-c
Page 87 and 88: Summary of Recommendations in the E
Page 89 and 90: e) Authorize the Secretary of Labor
Page 91: Appendix BREPORT TO THE PRESIDENT O
Page 95 and 96: Report to the President on the Acti
Page 97: Advisory Board on Economic Growth a
Page 101 and 102: Program for Improving Federal Stati
Page 103 and 104:
various divisions. Improvements in
Page 105 and 106:
InventoriesSeparate stage-of-fabric
Page 107:
Appendix DTHE CONSUMER PRICE INDEX9
Page 110 and 111:
total market basket since the base
Page 112 and 113:
described are applied whenever poss
Page 114 and 115:
were employed under contracts conta
Page 117 and 118:
Productivity StatisticsThe terms "p
Page 119 and 120:
5 percent. Some improvement over th
Page 121:
Appendix FSTATISTICAL TABLES RELATI
Page 124 and 125:
Prices:PageF-36. Wholesale price in
Page 127 and 128:
NATIONAL INCOME OR EXPENDITURETABLE
Page 129 and 130:
TABLE F-2.—Gross national product
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TABLE F—4.—Gross national produ
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TABLE F—6.—The Nation's income,
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TABLE F-8.—Gross private domestic
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TABLE F-10.—Relation of gross nat
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TABLE F-12.—Sources of personal i
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TABLE F-14.—Total and per capita
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TABLE F—16.—Sources and uses of
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TABLE F-17.—Noninstitutional popu
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TABLE F—19.—Employed persons no
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TABLE F-21.—Unemployment insuranc
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TABLE F-22.—Number of wage and sa
Page 153 and 154:
1929.193019311932193319341935193619
Page 155 and 156:
TABLE F-26.—Average weekly hours
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TABLE F-28.—Labor turnover rates
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TABLE F-29.—Industrial production
Page 161 and 162:
TABLE F-31.—New construction acti
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TABLE F-33.—Housing starts and ap
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TABLE F-35.—Manufacturers* sales,
Page 167 and 168:
TABLE F-36.—Wholesale price index
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TABLE F-37.— Wholesale price inde
Page 171 and 172:
TABLE F—39.—Consumer price inde
Page 173 and 174:
TABLE F—41.—Loans and investmen
Page 175 and 176:
TABLE F-43.—Bond yields and inter
Page 177 and 178:
TABLE F—44.—Short- and intermed
Page 179 and 180:
TABLE F-46.—Mortgage debt outstan
Page 181 and 182:
GOVERNMENT FINANCETABLE F—48.—U
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TABLE F-50.—Federal budget receip
Page 185 and 186:
TABLE F-52.—Government cash recei
Page 187 and 188:
TABLE F—54.—Reconciliation of F
Page 189 and 190:
CORPORATE PROFITS AND FINANCETABLE
Page 191 and 192:
TABLE F-58.—Relation of profits a
Page 193 and 194:
TABLE F-59.—Sources and uses of c
Page 195 and 196:
TABLE F-61.—State and municipal a
Page 197 and 198:
Period19291930193119321933193419351
Page 199 and 200:
TABLE F-65.—Farm population, empl
Page 201 and 202:
TABLE F—67.—Indexes of prices r
Page 203 and 204:
TABLE F—70.—Selected indicators
Page 205 and 206:
TABLE F—72.—United States balan
Page 207 and 208:
TABLE F—73.—United States merch
Page 209:
TABLE F—75.—U. S. Government gr
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