United States yearbook - 1982 (1)

428 Income, Expenditures, and Wealth
No. 706. G r o s s S a v in g a n d In v e s t m e n t : I 9 6 0 t o 1 9 8 1
[In billions of dollars. See H isto rie s t S ta tis tic s , C o lonial Times to 1970, series F 552-566, for single-year figures prior to revisions
issued in 1981]
IT E M 1980 1965 1970 1974 1975 1976 1977 1978 1979 I960 1981
Grose saving.................................................. 81.1 120.2 148.9 227.8 218.9 257.9 309.1 374.8 422.7 406.2 477.5
Groas private saving.............................................. 78.0 119.7 156.6 234.S 282.7 294.4 326.9 374.0 407.3 438.3 504.7
P e r s o n a l s a v i n g .............................................................................. 19.7 33.7 56.8 85.1 9 4 .3 82.5 78.0 89.4 96.7 106.2 130.2
Undistributed corporate profits1......................... 1 2 .1 30.0 14.8 13.4 29.1 36.9 53.7 62.2 54.5 38.9 44.4
Undistributed profits............................. ............ 14,3 27.2 16.6 55.2 50.7 65.1 81.2 98.9 112.4 99.7 85,8
Inventory valuation adjustment....................... - . 2 -1 .2 -6 .6 -4 0 .0 - 1 1 . 6 -1 4 .7 -1 6 .2 -2 4 .0 -4 3 .1 -4 3 .0 -2 4 .6
Capital consumption adjustment.................... -2 .0 4.0 2.5 - 1 .8 - 1 0 . 1 -1 3 .5 -1 1 .3 -1 2 .7 -1 4 .8 -1 7 .8 -1 6 .8
Capital consumption allowances:
Corporate» .......................................................... 27.3 33.4 54.1 83.4 99.5 109.9 121.5 137.6 157.5 181.2 206.2
Noncorporate * ................................................... 19.0 22.6 34.0 52.6 59.8 65.2 73.7 84.9 96.5 112.0 123.9
Government surplus or deficit ( - ) 9................. 3.1 .S -1 0 .6 - 4 .7 -6 3 .6 -3 6 .5 -1 7 .8 .6 14.3 -3 3 .2 -2 8 .2
Federal...................................................................... 3.0 .5 -1 2 .4 -1 1 .5 -6 9 .3 -5 3 .1 -4 5 .9 -2 9 .5 -1 6 .1 -6 1 .4 -6 0 .0
State and local....................................................... .1 ( - 2 ) 1.9 6.8 5.5 16.6 28.0 30.3 30.4 28.2 31.7
Capital grants received by U.S. (net)............. _ .9 - 2 .0 _ _ _ 1.1 1.2 1.1
Gross Investment................................. 78.7 119.0 147.4 231.5 224.4 263.0 310.4 372.3 421.2 410.2 475.6
Gross private domestic investment........................ 75.9 113.5 144.2 228.7 206.1 257.9 324.1 386.6 423.0 402.3 471.5
Net foreign investment.............................................. 2.8 5.4 3.2 2.9 18.3 5.1 -1 3 .6 -1 4 .3 - 1 . 8 7.8 4,1
Statistical discrepancy......................... -2 .4 - 1 .2 -1 .5 3.7 6.5 5.1 1.4 - 2 .6 - 1 . 5 3.9 -1 .9
- Represents zero. Z Less than $50 million. ‘ With Inventory valuation and capita! consumption adjustment. aWlth
capital consumption adjustment. 9 National income and product accounts basis.
Source: U.S. Bureau of Economic Analysis, The N a tio n a l Incom e a n d P rodu ct A cco u n ts o f th e U n ite d S tates, 1 9 2 9-76, and
S u rvey o f C u rre n t B usiness, July 1962.
No. 707. F l o w o f F u n d s A c c o u n t s — C o m p o s it io n o f I n d iv id u a ls ’ S a v in g : i960 t o 1981
[tn billions o f dollars. Combined statement for households, farm and nonfarm, noncorporate business, nonprofit organizations,
and personal trusts. Minus sign ( - ) denotes decrease. See H is to ric a l S tatistics, C o lo n ia l T im es to 1970, series F 566-594, for
similar but not exactly comparable data]
COMPOSITION OF SAVING 1960 1965 1970 1975 1977 1978 1979 1980 1981
Increase In financial assets 1............................................ 32.1 58.8 81.5 171.7 234.3 270.5 286.0 303.6 327.7
Checkable deposits and currency................................... 1.0 7.6 8.9 6.9 21.3 22.3 23.4 11.0 22.0
Time and savings deposits 12.0 27.8 43.6 83.4 107.5 100.1 79.2 131.2 69.9
Money market fund shares.............................................. - _ - 1.3 .2 6.9 34.4 29.2 107.5
Securities........................... 3.9 2.8 - . 2 25.5 17.0 40.1 55.2 17.5 4.2
U.S. savings bonds..... - .3 .6 .3 4.0 4.7 3.9 - . 8 - 7 .3 -4 .3
Other U.S. Treasury securities.................................... .6 .2 -1 1 .3 15.7 6.4 19.2 32.5 18.1 19.6
U.S. Government agency securities........................... - . 6 1.0 6.4 -1 .0 5.7 7.6 20.1 9.7 15.4
State and focal obligations........................................... 2.6 1.0 - . 9 6.2 - 1 .5 1.8 2.4 3.0 14,9
Corporate and foreign bonds....................................... .7 .5 10.7 8.9 - 3 .0 - 2 .9 10.3 3.6 -1 0 .4
Open-market paper..... 1.7 .8 -3 .8 -4 .4 9.8 16.3 7.5 - 7 .6 .3
Mutual fund shares...... 1,4 3.2 2.6 - . 3 .4 - . 5 - . 6 4.4 7.8
Other corporate equities...................... ........................ -2 .0 -5 .3 -4 .3 -3 .5 - 4 .8 - 5 .2 -1 6 .2 - 6 .3 -3 9 .0
Private life insurance reserves....................................... 3.2 4.7 5.4 8.5 11.3 11.7 12.3 11.4 9.7
Private insured pension reserves................................... 1.3 2.1 2.6 8.1 14.9 18.3 16.2 20.0 28.3
Private noninsured pension reserves............................. 4,0 6.4 6.9 11.8 17.4 15.9 14.0 22.3 22.5
Government insurance and pension reserves............. 3.2 4.7 6.9 15.1 22.5 27.9 24.4 35,3 37.4
Gross Investment In tangible aeeata............................. 80.7 113.7 144.7 222.3 320.7 366.4 398.7 381.8 412.7
Owner-occupied homes............................................. ...... 21.2 22.5 25.7 45.6 80.7 97.1 106,6 93.6 96.2
Other fixed assets *........................................................... 16,2 25.6 33.2 42.1 58.6 67.7 75.9 79.5 81.6
Consumer durables............................................................ 43.1 •63.0 85.2 132.2 178.8 199.3 212.3 211.9 232.0
Inventories 2........................................................................ .3 2.6 .5 2.4 2.5 2.3 3.9 - 3 ,5 2.8
Capital consumption allowances.................................... 55.2 65.7 99.6 166.6 203.7 229.5 260.0 292.1 324.1
Owner-occupied homes.................................................... 6.3 7.9 12.1 22.2 28.6 33.6 39.1 45.6 52.9
Other fixed assets \ ............................ ............................. 12.8 14.9 22.3 38.7 46.5 52.9 81,0 68.4 73.6
Consumer durables........................................................... 36.1 42.8 65.2 105.7 120.6 143.1 159.9 178.1 197.6
Net Investment in tangible assets................................. 25.6 48.0 46.1 55.7 117.0 137.0 138.7 89.5 88.6
Owner-occupied Homes.......................... ......................... 14.8 14.5 13.6 23.5 52.1 63.6 6 7.5 48.2 43.3
Other fixed assets •........................................................... 3.4 10.7 10.9 3.4 12.2 14.9 14.8 11.0 8.1
Consumer durables 7.0 20.2 20.0 26.5 50.2 56.3 52.4 33.8 34.4
Inventoriesa......... .3 2.6 .5 2.4 2.5 2.3 3.9 - 3 .5 2.6
Net Increase In debt 20.9 40.2 34.4 63.5 169.2 203.2 210.8 142.1 138.3
Mortgage debt on nonfarm homes................................ 11.7 17.0 14.1 38.0 93.0 107.6 114.6 83.4 65.3
Other mortgage d e b t2...................................................... 2.5 6.6 6.4 7.0 16.7 17.8 20.0 18.1 15.1
Consumer credit... 4.4 10.6 5.4 9.6 40.2 47.6 46.3 2.3 25.3
Other d e b t2.......... 2.8 6.0 6.4 8.8 19.3 30,2 29,8 38.3 32.6
Individuals’ saving............................................................... 36.7 66.7 92.2 164.0 182.1 204.2 213.9 251.2 277.9
Less: Government Insurance and pension reserve.... 3.2 4.7 6.9 15.1 22.5 27.9 24.4 35.3 37.4
Net investment in consumer durables... 7.0 20.2 20.0 26.5 50.2 56.3 52.4 33.8 34.4
Capital gains dividends from mutual funds................... .4 .9 .9 .2 .6 .7 .9 1.7 2.7
Net saving by farm corps......................
-.1 w - .1 .1 - . 2 - . 2 - . 2 —.5 —.6
Equals: personal eavlng, (low of funds basis s.......... 26.2 40.8 62.5 122.1 109.0 119.6 136.4 180.9 204.0
- Represents zero. Z Less lhan $50 million. 1Includes ItemB not shown separately. * Includes corporate farms.
Personal saving on national Income account basis measures personal saving as income less taxes and consumption: flow-of*
funds basis measures the same concept from acquisitions of assets teas borrowing.
Source: Board of Governors of the Federal Reserve System, F lo w o f F unds Accounts, quarterly.