Appendix Table II-E.--Net savings for the corporate nonfinancial business sector,ì Source: 1954-59 estimate by Federal Reserve Board, "Flow of Funds," Federal Reserve Bulletin, August 1959, p. 1050 and August 1960, p. 934. 1960 estimate is about the average for 1954-59 and seems reasonable. on the basis of data available for the 1st half of 1960. 1970 estimate by National Planning Association, "Long-Range Projections for Economic Growth: The American Economy in 1970," p. 81, revised (unpublished) estimate in 1959 prices. Other years by interpolation. APPENDIX TABLE II-F.-Estimated increases in multifamily residential mortgage debt owed by business sectors, 1954–70 [Amounts in billions of dollars; current dollars for 1954-59; 1959 dollars for later years] 1954-1959: Col. 1: Federal Reserve Board, Federal Reserve Bulletin, August 1960, p. 907. Col. 2: HHFA 13th Annual Report for 1959, p. 325. Col. 3: Residual (1-2). Cols. 4 and 7: Federal Reserve Board, "Flow of Funds," Sector Statements of Financial Assets and Liabilities, Federal Reserve Bulletin, August 1960, p. 942 Cols. 5 and 8: Estimated at 40 percent and 60 percent, respectively, of col. 2. The 1950 Census of Housing-Survey of Residential Financing showed that corporations owned 63 percent of the 50-or-more dwelling; unit mortgaged properties. Since the proportion of corporate ownership for 5 to 49 unit properties (not able) would be lower, the corporate proportion of the multifamily debt was estimated at 60 percent. Col. 6: Derived (4-5). Col. 9: Derived (8-7). 1960-1970: Col. 2: Estimated proportion of total net increases in residential mortgage debt (table 9) in the multifamily segment, based on past relationships of multifamily to total net increases with allowance for the constant projected rise in multifamily construction after 1959 (from 12 percent of starts in 1960 to 22 percent in 1970). Col. 5: 40 percent of col. 2. APPENDIX TABLE II-G.-Derivation of increases in State and local expenditures due to price changes, 1948-59 Col. 1: Department of Commerce, Survey of Current Business, July 1960, p. 8, table 1. Col. 3: Indexes derived from Department of Commerce implicit price deflators for the Government sector of GNP, published in "U.S. Income and Output," 1958, p. 227, table VII-8 and in Survey of Current Business, July 1960, p. 32, table 65. Col. 4: Figures in col. 1 deflated by index number in col. 3. Col. 5: Col. 1 minus col. 4. APPENDIX TABLE II-H.-Estimated net increases in total liabilities of State and Col. 1: Federal Reserve Board, Flow of Funds, Federal Reserve Bull., August 1960, p. 943. Col. 3: From appendix table II-G, col. 5. Col. 4: Derived from col. 2 minus col. 3. Col. 5: Amount in col. 4 as a percent of the total outstanding at end of previous year, shown in col, 1. APPENDIX TABLE II-I.—Derivation of estimated net annual increases in outstanding consumer credit, 1947-70 [Amounts in billions of dollars; current dollars for 1946-59; 1959 dollars for later years] 1946-59: Col. 1: Department of Commerce, 1946-58, published in the Economic Report of the President, January 1960, p. 170; 1959 data, Survey of Current Business, July 1960, p. 8. Col. 2: From col. 1-increase over previous year. Col. 3: Board of Governors, Federal Reserve System, 1946-48 published in Economic Report of the President, January 1960, p. 207; 1959 data, Federal Reserve Bulletin, August 1960, p. 910. Col. 4: From col. 3-year-to-year changes. Col. 5: Col. 4 as a percent of col. 2. 1959-70: Col. 1: From appendix table III-A, col. 5. Col. 2: From col. 1-increase over previous year. Col. 3: From col. 4-by addition of net increase during current year to the amount outstanding at the end of the preceding year. Col. 4: Derived by application of percentage shown in col. 5 to annual increase in consumer expenditures shown in col. 2. Col. 5: Projected on basis of prior years, excluding recession-affected years of 1949, 1954, and 1958, in which the increase in consumer expenditures over the previous year was relatively small: 1951 when (Korean war) regulation W restricted consumer credit all year; and 1952 when there was a reaction from the 1951 restrictions after regulation W was removed in May. For the other years, prior to 1960, the average was 26 percent. APPENDIX TABLE III-A.-Projected national income accounts, 1960–70 Col. 1: The 1959 estimate of GNP is by the Department of Commerce, published in the Survey of Current Business, July 1960, p. 8. The 1970 GNP estimate is from a projection in "Long Range Projections for Economic Growth: The American Economy in 1970," National Planning Association, p. 6, table 1 (judg. ment model) updated to a 1959 price basis. The GNP figures for 1960-69 were calculated by interpolation between the GNP for 1970 and 1959. Col. 2: The National Income figures for 1960-70 are based on the assumption that national income will continue to be about 83 percent of GNP, as in recent years. (See app. table III-C.) Col. 3: Personal Income for 1960-70 was calculated as 95 percent of National Income on the basis of recent year relationship. (See app. table III-C.) Col. 4: Disposable Personal Income for 1960-70 was calculated as 88 percent of personal income on the basis of recent past relationship. (See app. table III-C.) Col. 5: Col. 4 minus col. 6. Col. 6: Personal savings for 1960-70 were calculated as 75 percent of disposable personal income on the basis of their recent past relationship. (See app. table III-C.) Col. 6: Personal savings for 1960-70 were calculated as 7.5 percent of disposable personal income on the basis of their recent past relationship. (See app. Table III-Č.) APPENDIX TABLE III-B.-Selected national income series, 1950-59 Source: Survey of Current Business, Department of Commerce, July 1960, pp. 8, 10. |