The United States economy is now in its sixth year of uninterrupted expansion. This is the longest advance in our history - except for the World War II period. Gross national product (the dollar value of the nation's output of goods and and services) totaled about $675 billion in 1965. This was a gain of over 7 percent, measured in current dollars. With the price level up 1.9 percent in 1965 (compared with a 1.1 percent rise in 1964), the gain in real GNP was around 5 1/2 percent.