+ All Categories
Home > Documents > SCB_081988

SCB_081988

Date post: 08-Feb-2016
Category:
Upload: fedfraser
View: 122 times
Download: 0 times
Share this document with a friend
Popular Tags:
128
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Transcript
Page 1: SCB_081988

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 2: SCB_081988

August 1988 / Volume 68 Number 8

SURVEY OF CURRENT BUSINESS •

U.S. Department of CommerceC, William Verity / SecretaryRobert Qrtner / Under Secretary

for Economic Affairs

Bureau of Economic AnalysisAllan H. Young / DirectorCarol S. Carsm / Deputy Direct&r

Editar-in-Chiefi Carol S. CarsonManaging Editor: Lelaxul L. Scott

Stuff Contributors to This Issues Frank deLeeiiw, Gregory G* Pouch, Daniel J* LarMns,Louis J, Moc^ar, John C; Mi3Sgravet NationalIncome and Wealth DMsioii* Thae S, Park,BobertP* Parker, James E. BanMn/ Jane S.Reeb, Regional Economic Measurement Division,Charles S. Kobinson, Joseph (X Wakefield,Patricia CX Walker.

OF CtmsEsiT BUSINESS* Publishedmonthly by the Bureau of Economic Analysis of theUJ3, Department of Commerce. Editorial corre-spondehce should be addressed to the Editor-in-Chief, SimvEY OF CDEHBNT BUSINESS, Bureau of Eco-nomic Analysis, U«S, Department of Commerce,Washington, DC 20230,

Annual subscription: Second-class mail —$18.00 domestic, $22,50 foreign; first-lass mail —$46.00. Single copy— $6,50 domestic, $8.13 foreign.

Mail subscription orders and address changes tothe Superintendent of Documents, U.S. Govern-ment Printing Office, Washington, DC 20402,Make checks payable to the Superintendent ofDocuments.

Second-class postage paid at Washington* DCand at additional mailing offices, (USFS 837-790).

1 Business Situation1 Effects of the Drought on Farm Output2 GNP Growth and Price Change with Recent Weights3 Corporate Profits3 Government Sector

5 BEA Working Paper Summary

6 National Income and Product Accounts Tables6 Selected NIPA Tables

20 Reconciliation and Other Special Tables

22 Composite Indexes of Leading, Coincident, andLagging Indicators

23 Relationship Between Personal Income and AdjustedGross Income, 1984-86

28 State Personal Income, 1985-87: Revised Estimates

42 U.S. Direct Investment Abroad: Detail for Positionand Balance of Payments Flows, 1987

69 Foreign Direct Investment in the United States: Detailfor Position and Balance of Payments Flows, 1987

84 Fixed Reproducible Tangible Wealth in the UnitedStates, 1984-87

Blue pages: Current Business Statistics(See page S-36for subject index to Current Business Statistics)

Inside back cover: BEA Publications

E*—This issue of the SUBVEY went to fiie printer on Sept. 8,1988. It incorporatesdata firkin the following monthly BEA news releases:

Gross National Product (Aug. 25),Personal Income and Outlays (Aug. 26), andComposite Indexes of Leading, Coincident, and Lagging

Indicators (Aug. 3D).

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 3: SCB_081988

the BUSINESS SITUATION

IXEVISED estimates show that realGNP, a measure of production, in-creased at an annual rate of 3^2 per-cent in the second quarter of 1988; theadvance estimates had shown an in-crease of 3 percent (see table 1 on page20). The increase in real gross domes-tic purchases, a measure of demand,was also revised up, to 1% percent atan annual rate, from 1 percent. In-creases in both the GNP price index(fixed weights) and the gross domesticpurchases price index (fixed weights)were unrevised at an annual rate of 4^2percent.

Although the production and de-mand totals were not revised substan-tially by the incorporation of newlyavailable source data, several majorcomponents showed sizable—largelyoffsetting—revisions.1 Real FederalGovernment purchases of goods andservices was revised up $5.7 billion(due to Federal outlays data for June),personal consumption expenditures forgoods was revised up $5.7 billion(largely due to revised retail salesdata for May), and producers' durableequipment was revised up $2.4 billion(largely due to aircraft shipments datafor June). The largest downward revi-sion was in change in business inven-tories; $6.1 billion of the $9.0 billionrevision was in farm inventories.

About one-half of the revision infarm inventories reflected BEA's re-vised estimate of crop and livestocklosses due to the drought in most of theMidwest and major parts of the East.

NOTE.—Quarterly estimates in the national in-come and product accounts are expressed at sea-sonally adjusted annual rates, and quarterlychanges in them are differences between theserates. Quarter-to-quarter percent changes arecompounded to annual rates. Real, or constant-dollar, estimates are expressed in 1982 dollars.

BEA's estimate is described in the nextsection. The second section discusses£he recent sensitivity of real productand price measures to the weight yearused in their calculation. The thirdand fourth sections discuss corporateprofits, for which data become avail-able at the time of the preliminaryGNP estimate, and the governmentsector.

Effects of the Drought onFarm Output

On the basis of information fromthe U.S. Department of Agriculture(USDA), BEA now estimates the 1988loss of constant-dollar farm output dueto the drought at $141/2 billion. The es-timate was based on the difference be-tween the USDA June forecast of thephysical quantity of output, represent-ing conditions before the drought, andthe August forecast, which reflects theresults of surveys of acreage plantedand prospective yields conducted inlate July and early August. This dif-ference, after conversion by BEA intoconstant (1982) dollars, indicates croplosses of $13 billion—about one-half incorn and one-quarter in soybeans andwheat—and livestock losses of $lx/2 bil-lion. The revised losses are $3 bil-lion higher than last month's estimate,which was based on the USDA Julyforecast; crop losses account for the en-

tire upward revision. The estimatesare subject to further revisions as in-formation from more comprehensiveUSDA surveys becomes available.

On a quarterly basis, BEA estimatesthe second-quarter loss at $9^2 billion(annual rate), $4 billion higher thanlast month's estimate. As noted inthe July "Business Situation," BEA de-rived the loss in livestock output forthe second quarter using informationabout earlier-than-usual sales and theloss in crop output using a special pro-cedure that spreads the loss for theyear over quarters.

This procedure is used because theprocedure normally used for several ofthe national income and product ac-count (NIPA) components that reflectactivity in the farm sector—changein farm inventories and farm income,both corporate and noncorporate—would not properly record the timingof the effects of the drought. Un-der the normal procedure, estimatesof both current- and constant-dollarchange in crop inventories, which alsoaffect the estimates of farm income,are prepared by BEA as the differencebetween output and sales. BEA esti-mates quarterly output by interpolat-ing between annual estimates derivedfrom USDA reports, including theirforecast for the most recent year, andBEA estimates quarterly sales on thebasis of USDA receipts from farm mar-ketings and Commodity Credit Corpo-ration (CCC) loan activity.

1. The revised or additional major source data thatare the basis for the revisions are listed in the note totable 1 on page 20.

Looking Ahead . . .• Local Area Personal Income, 1981-86. A five-volume publication con-

taining metropolitan area and county estimates of personal income andsupporting detail is now available. Order information appears in the boxon page 28.

• International Services. Data for 1986 collected in the benchmark surveyof selected services transactions with unaffiliated foreign persons will bepresented in the October SURVEY. The survey collected data on 18 differenttypes of services. For most of the services, data on trade with unaffiliatedforeigners previously had not been available.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 4: SCB_081988

SURVEY OF CURRENT BUSINESS August 1988

Using the normal interpolating pro-cedure, the effects of the drought onfarm output (and thus on inventoriesand income) would have been spread tothe quarters of 1987, 1988, and 1989.This procedure was rejected becausethe results would have been inconsis-tent with the timing of similar lossesin nonfarm inventories and with thetiming of the effects of the farm out-put losses on other NIPA components.(For the same reasons, the normal pro-cedure has been rejected in similar sit-uations in the past—most recently, forthe 1983 drought.) Losses due to thedestruction of nonfarm inventories arerecorded in the period the loss is recog-nized. The effects of the losses in farmoutput on other NIPA components—such as nonfarm inventory change,agricultural exports, and CCC inven-tory change—will be recorded duringthe harvest period.

To reflect more accurately the timingof the losses in crop output, BEA useda procedure that allocated the lossesto the growing season but with theharvest period receiving higher alloca-tions. Specifically, BEA estimated thedrought losses by averaging two series.The first allocated the losses equally tothe second, third, and fourth quartersof 1988. This allocation acknowledgesthat farmers recognized their lossesduring all three of the quarters thatspan the growing season. The sec-ond allocated the losses to the harvestperiod—25 percent in the third quarterand 75 percent in the fourth, reflect-ing the typical harvest period of the af-fected crops. This allocation recognizesthe timing of the effects of the losseson other NIPA components. Total farmoutput for the quarters of 1988 wasderived by subtracting the estimatedlosses from pre-drought farm outputbased on normal interpolation proce-dures.

Using the annual losses in crop out-put of $13 billion in constant dollars,$8^2 billion (annual rate) was allocatedto the second quarter, $15 billion tothe third quarter, and $28 billion tothe fourth. Including the allocation oflosses in livestock output, total lossesdue to the drought reduced second-quarter real GNP by $9V2 billion andwill reduce third- and fourth-quarterreal GNP by $161/2 and $311/2 billion,respectively. Changes in real GNP willbe correspondingly reduced by about 1percentage point in the second quar-ter, by x/2 percentage point in the thirdquarter, and by lv2 percentage pointsin the fourth quarter.

The estimates of the losses in farmoutput enter the calculation of changein farm inventories and of farm in-come. The extent to which the lossesaffect the estimates of the change infarm inventories depends on the ex-tent to which they affect sales. Inthe second quarter, sales do not ap-pear to have been affected, so that theentire $9^2 billion loss reduced inven-tory change. In the third and fourthquarters, sales probably will be af-fected, but by amounts that cannotbe estimated because the drought's ef-fects cannot be identified in the un-derlying source data. Consequently, itwill not be possible to estimate the ef-fects on the change in farm invento-ries in these quarters. For farm in-come, no attempt has been made to es-timate the drought's total effects. Al-though the extent to which the quan-tity of farm output is reduced becauseof the drought is known, farm incomeis also affected by drought-inducedchanges in crop prices, farm subsidies,and production expenses. Finally, thedrought's effects on NIPA componentsthat reflect purchases of farm productsalso cannot be estimated because theeffects cannot be identified in the un-derlying source data.

GNP Growth and PriceChange with Recent Weights

For some recent quarters, the pub-lished growth rate of real GNP, whichis expressed in 1982 prices, has beenlarger than the growth rate of realGNP expressed in prices of a more re-cent period. Growth from the secondquarter of 1987 to the second quarterof 1988 is 4.3 percent based on 1982dollars, but only 3.7 percent based ona chain measure (described below) thatchanges weighting period from quarterto quarter. Rates of price increase havealso been larger with 1982 weightsthan with more recent weights, butby a smaller margin than real growthrates.

Weighting period sensitivity is nota new phenomenon. It tends to in-crease with the length of time sincethe weight year. The rapid fall incomputer prices, coupled with rapidgrowth in computer output, is an im-portant contributor to the current sen-sitivity. From 1982 to 1987, real pur-chases of office, computing, and ac-counting machinery—the category ofproducers' durable equipment that in-cludes computers—increased by 296percent (in 1982 prices), while the

fixed- weighted price index for the samecategory of equipment fell by 45 per-cent. The increase in real purchases ofcomputers contributes far more to thegrowth of real GNP when computersare valued at 1982 prices than whenthey are valued at their much lowerrecent prices. The fall in price, in con-trast, contributes far less to the changein a GNP price index when its weight iscalculated using 1982 purchases thanwhen its weight is calculated using re-cent purchases.

In general, measures of growth andprice change are lower with more re-cent weighting periods whenever (1)goods and services whose prices havedecreased relative to the overall pricelevel have tended to grow rapidly, and(2) goods and services whose priceshave increased relative to the overallprice level have tended to grow slowly.2

At present, BEA publishes only onemeasure of real GNP growth, ex-pressed in 1982 prices. It is possi-ble, however, to derive an alternativemeasure of real GNP growth that useschanging weights from two estimatesthat BEA publishes in NIPA table 8.1:The percent change in current-dollarGNP, and the percent change in thechain price index for GNP. The alterna-tive measure is equivalent to one thatmeasures growth between each pair ofquarters using the prices of the laterquarter.

The alternative measure is approx-imately equal to the current-dollargrowth rate minus the growth rate ofthe chain price index. The exact for-mula is:

in which g(t) is the growth rate of realGNP using current-period prices fromquarter "M" to quarter Y'; g$(t) is thegrowth rate of current-dollar GNP fromquarter t-1 to quarter t\ and pch(t) isthe percent change in the chain priceindex for GNP from quarter t-1 to quar-ter t.

Table 1 shows quarterly GNP growthbased on 1982 dollars and based onchanging weights, beginning in thefirst quarter of 1987. Differences be-tween the 1982-based estimate and thechanging-weight estimate (both sea-sonally adjusted annual rates) rangefrom -0.4 to +1.1 percentage points.

2. For a simple numerical illustration of this propo-sition, see "A Note on the Effect of Shifting the Base Pe-riod," SURVEY OF CURRENT BUSINESS 65 (December 1985):14.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 5: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS

Table 1.—GNP and Prices with AlternativeWeighting Periods: Percent Change fromPreceding Period

[Seasonally Adjusted at Annual Rates]

Current-dollar GNP

GNP prices:Fixed-weighted price

indexChain price index

Real GNP:Constant 1982 dollars .Chain output

measure

I

8.4

4.24.0

4.6

4.2

19

II

8.7

4.23.7

5.0

48

37

III

7.7

8.73.6

4.5

4.0

IV

8.6

8.H3.4

6.1

5.0

19

I

5.4

8.53.0

3.4

2.3

88

II

8.3

4.74.4

3.3

3.7

NOTE.—Percent changes for all measures except the chainoutput measure of real GNP growth are found in table 8.1 ofthe national income and product accounts tables.

The largest positive differences are forthe fourth quarter of 1987 and the firstquarter of 1988. The shift to a negativedifference in the second quarter of 1988is due to movements in inventories offarm and and petroleum products.

Table 1 also shows the two measuresof price change that BEA publishes foreach quarter, the fixed-weighted indexbased on 1982 weights and the chainprice index. The 1982-based mea-sure increases more than the changing-weight measure for all six quarters, bymargins that range from 0.1 to 0.5 per-centage point. The average differencebetween the two price change mea-sures is about two-thirds as large asthe average difference between the twogrowth rate measures.

Corporate Profits

Profits from current production in-creased $16 billion in the second quar-ter after little change in the first. Do-mestic profits and profits from the restof the world contributed equal amountsto the second-quarter increase; in thefirst quarter, an $11^2 billion increasein domestic profits had been offset bya decline in profits from the rest ofthe world. (Although the changes inrest-of-world profits were the same asthe changes in domestic profits in bothquarters, the level of rest-of-world prof-its was only about one-eighth that ofdomestic profits.)

Rest-of-world profits equals the dif-ference between (a) profits of U.S.-owned corporations abroad and (b)profits of foreign-owned corporations inthe United States. In the first quarter,an increase in the profits of foreign-owned corporations accounted for mostof the decline in rest-of-world profits;

in the second, a decline in profits offoreign-owned corporations accountedfor about one-half of the increase inrest-of-world profits. These move-ments in profits of foreign-owned cor-porations reflect first-quarter account-ing adjustments that some of thesecorporations made in accordance witha new financial accounting standard(see the May "Business Situation" fora discussion). If these accounting ad-justments had not been made, prof-its from the rest of the world wouldhave declined about $7x/2 billion inthe first quarter and increased about$4 billion in the second. Profits offoreign-owned corporations would stillhave accounted for most of the first-quarter change in rest-of-world profits,but would have had little effect on thesecond-quarter change.

Profits before and after tax.—Inthe second quarter, profits before tax(PBT) and profits after tax (PAT) reg-istered their largest increases in sev-eral years. PBT increased $24*/2 bil-lion in the second quarter to $310^2billion, following an increase of $4:/2billion in the first; PAT increased $17billion to $166x/2 billion, following anincrease of $8^2 billion. Unlike prof-its from current production, PBT andPAT include "inventory profits" and"depreciation profits."3 Inventory prof-its (or losses) are generated by changesin prices of inventoried goods; depre-ciation profits (or losses) are gener-ated by differences between the proce-dures for determining depreciation un-der tax accounting, on the one hand,and the procedures BEA employs to es-timate depreciation, on the other. In-ventory profits increased $7^2 billionin the second quarter, largely reflect-ing increased prices of grain, hogs, andpetroleum; the second-quarter increaseraised inventory profits to $27 billion,the highest level since 1981. Depre-ciation losses—i.e., negative deprecia-tion profits, which have been in evi-dence since 1983—declined $1 billion,reflecting the provisions of the Tax Re-form Act of 1986; this act mandated anincrease in service lives, narrowing thedifference between the lives used in taxaccounting and those BEA uses to es-timate depreciation.

3. In the national income and product accounts, in-ventory profits are recorded, with sign reversed, asthe inventory valuation adjustment (IVA). Depreciationprofits are recorded, with sign reversed, as the capitalconsumption adjustment (CCAdj).

Government SectorThe fiscal position of the government

sector improved in the second quarterof 1988, as the combined deficit of theFederal Government and of State andlocal governments decreased $24^2 bil-lion. The deficit of the Federal Gov-ernment declined $24 billion, and thesurplus of State and local governmentsincreased $^2 billion.

The Federal sector.—The FederalGovernment deficit declined to $131billion, as receipts increased more thanexpenditures.

Receipts increased $32^2 billion,compared with $6^2 billion in the firstquarter. Personal tax and nontax re-ceipts increased $20x/2 billion, com-pared with a $17^2 billion decline inthe first quarter. These large changesin personal taxes were due to provi-sions of the Tax Reform Act of 1986:in the first quarter, the second roundof rate reductions lowered taxes; inthe second quarter, higher final settle-ments resulting from income shiftingraised taxes. Corporate profits tax ac-cruals increased $5 billion, comparedwith a small decline in the first quar-ter. Indirect business tax and nontaxaccruals were unchanged in the secondquarter, and contributions for social in-surance increased $7 billion.

Expenditures increased $8^2 billion,compared with $1 billion in the firstquarter. Purchases of goods and ser-vices increased $4 billion, comparedwith a $13^2 billion decline in thefirst quarter. This shift was largelydue to nondefense purchases, which in-creased $4 billion in the second quarterafter a $13 billion decline in the first.The shift in nondefense purchases wasdue to purchases of agricultural com-modities by the Commodity Credit Cor-poration (CCC).

Transfer payments to persons in-creased $3x/2 billion, compared with$17 billion in the first quarter, whenvarious transfer payments—such associal security—were boosted by cost-of-living adjustments. Net interestpaid increased $2 billion, and subsidiesless the current surplus of governmententerprises was unchanged. In thelatter category, a $4 billion decreasein the Postal Service deficit—due to afull-quarter effect of the April postalrate increase—was offset by a $2^2 bil-lion increase in subsidies to farmersand a $2 billion increase in the CCCdeficit. Grants-in-aid to State and lo-cal governments declined $x/2 billion,compared with a $9x/2 billion increase

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 6: SCB_081988

SURVEY OF CURRENT BUSINESS August 1988

in the first quarter. All major cate-gories of grants had increased in thefirst quarter; they either declined or in-creased less in the second.

Cyclically adjusted surplus ordeficit.—When measured using cycli-cal adjustments based on middle-expansion trend GNP, the Federaldeficit on the national income andproduct accounts basis declined from$193 billion in the first quarter to$173^2 billion in the second (see ta-ble on page 21).4 The cyclically ad-justed deficit as a percentage of middle-expansion trend GNP declined from 4.2percent in the first quarter to 3.7 per-cent in the second.

The State and local sector.—TheState and local government surplus in-creased to $56 billion, as receipts in-creased more than expenditures.

Receipts increased $13 billion, com-pared with $181/2 billion in the firstquarter. The deceleration was morethan accounted for by the shift in Fed-eral grants-in-aid. Indirect businesstax and nontax accruals increased $6^2billion, compared with $4^2 billion inthe first quarter; the acceleration wasin sales taxes. Personal tax and nontaxreceipts increased $4^2 billion, com-pared with $2^2 billion in the firstquarter; the acceleration was due tohigher net final settlements as a resultof indirect effects of the Tax Reform Act

of 1986. Corporate profits tax accru-als increased $2 billion, and contribu-tions for social insurance increased $1billion.

Expenditures increased $12^2 bil-lion, the same as in the first quar-ter. Purchases of goods and services in-

4. These estimates incorporate the national incomeand product account revisions released in July. In ad-dition, the middle-expansion period, which is used tocalculate trend GNP and unemployment rate, was ex-tended. Previously it was from the third quarter of 1983to the second quarter of 1986. The period was extendedto the second quarter of 1988 to reflect the continuationof economic expansion without substantial inflation af-ter the second quarter of 1986. As a result of the ex-tension, middle-expansion trend GNP was revised upby amounts that increased from $2 billion in the thirdquarter of 1981 to $65 billion in the first quarter of 1988,and the trend unemployment rate was revised down to6.9 percent from 7.4 percent.

creased $12 billion; employee compen-sation and structures recorded smallergains than in the first quarter, andall other purchases accelerated. Allother categories of expenditures com-bined increased about $1 billion in bothquarters.

Table 2.—Government Sector Receipts and Expenditures[Billions of dollars, seasonally adjusted at annual rates]

Government sectorReceiptsExpenditures

Surplus or deficit ( )

Federal Government

Receipts

Personal tax and nontax receiptsCorporate profits tax accrualsIndirect business tax and nontax accrualsContributions for social insurance

Expenditures

Purchases of goods and servicesNational defense ,Nondefense ,

Of which'. Commodity Credit Corporation inventory changeTransfer payments

To personsTo foreigners .

Grants-in-aid to State and local governmentsNet interest paidSubsidies less current surplus of government enterprises

SubsidiesOf which. Agricultural subsidies

Less' Current surplus of government enterprisesLess' Wage accruals less disbursements

Surplus or deficit ( )

State and local governments

Receipts

Personal t a x a n d nontax receipts . . . . . . . . .Corporate profits tax accrualsIndirect business tax and nontax accruals . .Contributions for social insuranceFederal grants-in-aid

Expenditures

Purchases of goods and servicesOf which: Structures

Net interest paidLess' Dividends received by governmentSubsidies less current surplus of government enterprises

SubsidiesLess' Current surplus of government enterprises

Less' Wage accruals less disbursements

Surplus or deficit ( )

Social insurance fundsOther

Change from preceding quarter

1987

II

66.98.8

58.1

48.7

39.34.91.33.2

4.4

4.87.5

-2.8-7.8

6.86.2

.63.6

.8-11.6-10.4-10.6

1.3

44.3

21.8

10.51.45.5

.73.6

8.0

7.12.7

-1.3-.8

.3

.1

13.7

1.711.9

III

13.516.3

-2.8

10.1

.25.5-.44.7

4.4

8.85.03.8

-2.7.8

1.3-.5

-3.64.0

-5.2-6.5-6.5-1.3

2

5.7

-.2

-6.01.87.0

.7-3.6

8.3

7.8-1.3-1.1-.7

.5-.4

.1

.4

-8.5

1.8-10.2

IV

22.648.0

-25.4

14.3

9.0-2.6

1.17.0

36.5

5.1-.65.83.48.32.65.7-.55.7

17.116.816.7

34

-22.1

7.8

5.7-.92.7

.8-.5

11.0

9.9-1.1

2.4-.8

.3

.2

-.2

-3.2

1.6-4.7

1988

I

15.54.0

11.5

6.6

-17.7-.5

.924.0

1.2

-13.7-.8

-12.9-16.1

11.916.8

-4.99.7

.4-6.7-8.0-8.0-1.2

5.3

18.6

2.71.24.3

.79.7

12.5

11.62.12.1

_ 7is

-.3

.4

6.1

1.54.5

II

46.421.824.6

32.6

20.45.2.1

6.9

8.4

3.9-.24.1

.72.93.7-.8_%721

.22.42.32.0

24.2

13.1

4.72.16.3

.7-.7

12.7

11.91.42.3-.8

.3-.3

.4

.4

1.6-1.2

Level

1988:11

1,571.81,646.5-74.7

983.6

425.0112.455.9

390.3

1,114.5

381.6298.283.4

-16.8437.3426.5

10.7110.4152.033.232.017.1

-1.3

-130.9

698.6

176.031.8

329.850.6

110.4

642.4

579.466.5

126.1-40.3

8.1-14.7

1.115.8

56.2

67.7-11.5

NOTE.—Dollar levels are found in tables 3.2 and 3.3 of the "Selected NIPA Tables."

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 7: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS

BEA Working Paper Summary

Status Report on Statistical and Methodological Improvementsin the U.S. Balance of Payments Statistics

by Louis J. Moczar

The paper reviews the status of work to improve thebalance of payments statistics.

Part I of the paper lists specific coverage, timing, andother problems under six major headings: (1) Merchandisetrade; (2) services, excluding income; (3) portfolio income;(4) unilateral transfers; (5) direct investment income, otherservices, and capital flows; and (6) other private capital.Part II describes the methodological and statistical workunderway on many of these problems. For example, in amajor move to improve its coverage of transactions be-tween U.S. residents and unaffiliated foreign persons,BEA conducted a benchmark survey (BE-20) of servicestransactions in 1987-88, covering such areas as advertising,management and consulting services, industrial engineer-ing, telecommunications, and agricultural services. The re-sults are now being processed. To improve its estimates ofportfolio income, BEA, in cooperation with other U.S. Gov-ernment agencies, is working to obtain more accurate in-formation on banks' noninterest receipts and paymentsfor financial services performed for U.S. and foreign cli-ents.

Part III describes improvements underway or to be un-dertaken with BEA's existing resources. These include in-corporating new estimates from the benchmark survey ofservices transactions into the appropriate balance of pay-ments accounts and conducting follow-on annual surveys.Resolving a number of issues related to direct investmentis also planned. Part IV discusses some improvements forwhich BEA would require additional resources and the co-operation of other Government agencies if significantprogress is to be made. These include resolving some ac-counting problems associated with currency fluctuations,securing reports on foreign purchases of certain U.S. secu-rities, and solving some problems of duplication and omis-sion in reporting by U.S. banks and nonbank affiliates.

This paper, which is BEA Working Paper No. 6, may beordered from Economic and Statistical Analysis/BEA, U.S.Department of Commerce, Citizens and Southern NationalBank, 222 Mitchell Street, P.O. Box 100606, Atlanta, GA30384. The accession number is BEA OD 88-001; the priceis $5.00. (Additional order information is on the insideback cover.)

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 8: SCB_081988

SURVEY OF CURRENT BUSINESS

National Income and Product Accounts Tables

Selected NIPA Tables

August 1988

New estimates in this issue: Second quarter 1988, revised (0.The selected set of 54 national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are

updated monthly. (In most of these tables, annual estimates are also shown.) The full set of 132 tables usually shown in July presents annualNIPA revisions. For more information on the presentation of the estimates, see "National Income and Product Accounts Estimates: When Theyare Released, Where They Are Available, and How They Are Presented" in the July 1988 SURVEY.

The full set of estimates for 1985-87 is in the July 1988 issue of the SURVEY; estimates for 1984 are in the July 1987 issue; estimates for 1983are in the July 1986 issue. Estimates for 1929-82 are in National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price $23.00). These publications are available from the Superintendent of Documents; see address on inside front cover.

The full set of NIPA tables is available on diskette for $240 per year (12 updates, for the quarterly estimates prepared each month). Formore information, write to the Bureau of Economic Analysis (BE-54), U.S. Department of Commerce, Washington, DC 20230.

Table 1.1.—Gross National Product[Billions of dollars]

Gross national product

Personal consumptionexpenditures

Durable goodsNondurable goodsServices

Gross private domesticinvestment ••

Fixed investmentNonresidential

StructuresProducers' durable

equipmentResidential

Change in businessinventories

Farm

Net exports of goods and

Imports

Government purchases of goodsand services

FederalNational defenseNondefense

State and local

1986

4,240.3

2,807.5

406.5943.6

1,457.3

665.9

650.4433.9138.5

295.4216.6

15.517.4-1.9

-104.4

378.4482.8

871.2

366.2277.5

88.7505.0

1987

4,526.7

3,012.1

421.9997.9

1,592.3

712.9

673.7446.8139.5

307.3226.9

39.240.7-1.5

123.0

428.0551.1

924.7

382.0295.3

86.7542.8

Seasonally adjusted at annual rates

1987

I

4,391.8

2,921.7

403.5977.5

1,540.7

685.5

647.8422.8132.7

290.1225.0

37.740.9

-3.2

-119.1

395.3514.4

903.8

372.7287.3

85.4531.1

II

4,484.2

2,992.2

420.5995.3

1,576.4

698.5

665.8438.2134.4

303.8227.6

32.731.41.3

-122.2

416.8539.0

915.7

377.5294.8

82.6538.2

III

4,568.0

3,058.2

441.41,006.61,610.2

702.8

688.3462.1143.0

319.1226.2

14.517.83.3

-125.2

440.4565.6

932.2

386.3299.8

86.4546.0

IV

4,662.8

3,076.3

422.01,012.41,641.9

764.9

692.9464.1147.7

316.3228.8

72.072.8-.8.

125.7

459.7585.4

947.3

391.4299.2

92.2555.9

1988

I

4,724.5

3,128.1

437.81,016.21,674.1

763.4

698.1471.5140.1

331.3226.6

65.349.415.9

-112.1

487.8599.9

945.2

377.7298.4

79.3567.5

IIr

4,819.7

3,189.1

448.21,035.71,705.2

758.2

715.3488.2145.4

342.8227.1

42.932.510.4

-88.6

508.0596.6

961.0

381.6298.2

83.4579.4

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 1.3.—Gross National Product by Major Type of Product[Billions of dollars]

Gross national product

Final salesChange in business

inventories

Goods

Final salesChange in business

inventories

Durable goodsFinal salesChange in business

inventories

Nondurable goodsFinal salesChange in business

inventories

Services

Structures

1986

4,240.3

4,224.7

15.5

1,697.9

1,682.3

15.5

725.3721.1

4.3

972.6961.3

11.3

2,118.4

424.0

1987

4,526.7

4,487.5

39.2

1,792.5

1,753.3

39.2

776.3749.7

26.6

1,016.21,003.6

12.6

2,295.7

438.4

Seasonally adjusted at annual rates

1987

I

4,391.8

4,354.1

37.7

1,733.4

1,695.7

37.7

737.2708.4

28.8

996.1987.3

8.9

2,228.4

430.0

II

4,484.2

4,451.5

32.7

1,774.5

1,741.8

32.7

767.1742.8

24.3

1,007.5999.1

8.4

2,276.2

433.4

III

4,568.0

4,553.5

14.5

1,812.9

1,798.4

14.5

792.2789.3

2.9

1,020.71,009.1

11.6

2,314.4

440.6

IV

4,662.8

4,590.7

72.0

1,849.3

1,777.3

72.0

808.7758.2

50.5

1,040.71,019.1

21.6

2,363.9

449.5

1988

I

4,724.5

4,659.2

65.3

1,879.5

1,814.2

65.3

819.3792.7

26.6

1,060.11,021.5

38.6

2,405.2

439.9

IF

4,819.7

4,776.9

42.9

1,924.8

1,881.9

42.9

846.7829.3

17.4

1,078.11,052.6

25.5

2,447.5

447.4

Table 1.2.—Gross National Product in Constant Dollars[Billions of 1982 dollars]

Gross national product

Personal consumptionexpenditures

Durable goodsNondurable goodsServices

Gross private domesticinvestment

Fixed investment ....Nonresidential

Structures .. .Producers' durable

equipmentResidential

Change in businessinventoriesNonfarm .. .Farm

Net exports of goods andservices ..

ExportsImports

Government purchases of goodsand services .. .

FederalNational defense .Nondefense ... .

State and local

1986

3,721.7

2,455.2

385.0879.5

1,190.7

643.5

628.1433.1129.3

303.8195.0

15.417.925

-137.5

378.4515.9

760.5

333.4251.4

82.0427.1

1987

3,847.0

2,521.0

390.9890.5

1,239.5

674.8

640.4445.1125.5

319.6195.2

34.436.925

-128.9

427.8556.7

780.2

339.0264.9

74.1441.2

Seasonally adjusted at annual rates

1987

I

3,776.7

2,490.2

378.3889.9

1,222.0

646.4

616.6418.2121.0

297.2198.4

29.836.1

-6.3

-132.8

394.9527.7

772.9

334.0257.0

77.0438.9

n

3,823.0

2,516.6

391.3889.8

1,235.5

660.1

632.3434.8120.9

313.8197.6

27.825.02.7

-126.0

416.4542.3

772.2

332.1264.8

67.3440.1

in

3,865.3

2,545.2

406.5891.9

1,246.8

667.9

654.9462.8128.0

334.7192.1

13.018.3

-5.3

130.7

440.9571.6

782.9

342.1269.5

72.6440.8

IV

3,923.0

2,531.7

387.6890.5

1,253.6

724.7

657.6464.8132.1

332.7192.7

67.168.2-1.1

-126.0

459.2585.2

792.6

347.7268.2

79.5444.9

1988

I

3,956.1

2,559.8

401.1892.7

1,265.9

728.9

662.9473.4124.0

349.4189.5

66.051.914.1

-109.0

486.2595.1

776.4

327.8264.6

63.2448.7

II r

3,988.1

2,577.2

409.3892.7

1,275.2

717.7

681.6491.6127.6

364.1190.0

36.031.1

5.0

-90.1

499.7589.7

783.3

331.0263.2

67.8452.3

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 1.4.—Gross National Product by Major Type of Product inConstant Dollars

[Billions of 1982 dollars]

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Gross national product

Final sales . .Change in business

inventories . .

Goods

Final sales . .Change in business

inventories

Durable goodsFinal salesChange in business

inventories

Nondurable goodsFinal salesChange in business

inventories

Services

Structures

1986

3,721.7

3,706.3

15.4

1,599.0

1,583.5

15.4

714.6710.7

3.8

884.4872.8

11.6

1,738.1

384.7

1987

3,847.0

3,812.6

34.4

1,663.3

1,628.9

34.4

774.6750.7

23.9

888.8878.2

10.5

1,801.1

382.6

Seasonally adjusted at annual rates

1987

I

3,776.7

3,746.9

29.8

1,616.2

1,586.4

29.8

728.0702.3

25.7

888.1884.1

4.1

1,778.2

382.4

n

3,823.0

3,795.2

27.8

1,645.6

1,617.8

27.8

763.8742.3

21.5

881.8875.5

6.3

1,797.2

380.2

in

3,865.3

3,852.2

13.0

1,677.5

1,664.5

13.0

793.7790.8

2.9

883.8873.7

10.1

1,806.6

381.1

IV

3,923.0

3,855.9

67.1

1,713.9

1,646.8

67.1

812.7767.2

45.5

901.2879.6

21.6

1,822.3

386.7

1988

I

3,956.1

3,890.1

66.0

1,748.1

1,682.2

66.0

832.5809.0

23.5

915.6873.2

42.4

1,833.4

374.6

ir

3,988.1

3,952.1

36.0

1,763.4

1,727.3

36.0

861.2845.8

15.5

902.1881.6

20.6

1,845.6

379.2

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 9: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS

Table 1.5.—Relation of Gross National Product, Gross DomesticPurchases, and Final Sales to Domestic Purchasers

[Billions of dollars]

Gross national product

Less: Exports of goods andservices

Plus: Imports of goods andservices

Equals: Gross domesticpurchases *

Less: Change in businessinventories

Equals: Final sales to domesticpurchasers 2

1986

4,240.3

378.4

482.8

4,344.7

15.5

4,329.1

1987

4,526.7

428.0

551.1

4,649.7

39.2

4,610.5

Seasonally adjusted at annual rates

1987

I

4,391.8

395.3

514.4

4,510.9

37.7

4,473.2

II

4,484.2

416.8

539.0

4,606.3

32.7

4,573.6

III

4,568.0

440.4

565.6

4,693.2

14.5

4,678.7

IV

4,662.8

459.7

585.4

4,788.4

72.0

4,716.4

1988

I

4,724.5

487.8

599.9

4,836.6

65.3

4,771.3

II'

4,819.7

508.0

596.6

4,908.3

42.9

4,865.4

1. Purchases in the United States of goods and services wherever produced.2. Final sales in the United States of goods and services wherever produced.

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 1.6.—Relation of Gross National Product, Gross DomesticPurchases, and Final Sales to Domestic Purchasers in Constant Dollars

[Billions of 1982 dollars]

Gross national product

Less: Exports of goods andservices .

Plus: Imports of goods andservices

Equals: Gross domesticpurchases 1

Less: Change in businessinventories

Equals: Final sales to domesticpurchasers 2

1986

3,721.7

378.4

515.9

3,859.3

15.4

3,843.8

1987

3,847.0

427.8

556.7

3,975.9

34.4

3,941.5

Seasonally adjusted at annual rates

1987

I

3,776.7

394.9

527.7

3,909.5

29.8

3,879.7

II

3,823.0

416.4

542.3

3,949.0

27.8

3,921.2

III

3,865.3

440.9

571.6

3,996.0

13.0

3,983.0

IV

3,923.0

459.2

585.2

4,049.0

67.1

3,981.9

1988

I

3,956.1

486.2

595.1

4,065.1

66.0

3,999.1

IP

3,988.1

499.7

589.7

4,078.2

36.0

4,042.1

1. Purchases in the United States of goods and services wherever produced.2. Final sales in the United States of goods and services wherever produced.

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 1.7.—Gross National Product by Sector[Billions of dollars]

Gross national product

Gross domestic product

BusinessNonfarm

Nonfarm less housingHousing . . . .

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

GovernmentFederalState and local-

Rest of the world

Addendum:

Gross domestic businessproduct less housing

1986

4,240.3

4,205.4

3,608.93,547.13,203.9

343.275.4

-13.6

153.19.1

144.0

443.4143.5299.9

34.9

3,257.7

1987

4,526.7

4,497.2

3,855.53,787.83,416.5

371.375.9

-8.1

168.99.2

159.8

472.7151.0321.7

29.5

3,476.7

Seasonally adjusted at annual rates

1987

I

4,391.8

4,359.9

3,735.63,670.03,309.5

360.574.1

-8.5

161.59.2

152.3

462.8149.2313.7

31.9

II

4,484.2

4,455.9

3,819.93,743.23,376.0

367.279.2

-2.5

166.39.2

157.1

469.8150.8319.0

28.2

III

4,568.0

4,541.2

3,893.83,832.23,457.7

374.576.8

-15.1

171.79.2

162.5

475.7151.3324.4

26.8

IV

4,662.8

4,631.8

3,972.93,905.83,522.7

383.173.4

-6.4

176.49.3

167.1

482.5152.7329.9

31.0

1988

I

4,724.5

4,702.1

4,028.13,965.43,576.0

389.477.7

-15.0

180.99.3

171.6

493.1156.7336.4

22.4

Hr

4,819.7

4,794.8

4,109.74,049.83,655.7

394.074.3

-14.3

185.59.4

176.1

499.6157.5342.1

24.9

Table 1.8.—Gross National Product by Sector in Constant Dollars[Billions of 1982 dollars]

Gross national product

Gross domestic product

BusinessNonfarm

Nonfarm less housingHousing

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

GovernmentFederalState and local

Rest of the world

Addendum:

Gross domestic businessproduct less housing

1986

3,721.7

3,690.9

3,202.03,130.42,857.9

272.483.7

-12.1

125.58.8

116.8

363.3122.5240.8

30.9

2,920.4

1987

3,847.0

3,821.4

3,322.53,247.12,965.7

281.482.5

-7.0

129.08.8

120.2

369.9123.5246.4

25.6

3,032.1

Seasonally adjusted at annual rates

1987

I

3,776.7

3,748.9

3,254.43,177.72,899.6

278.184.1

-7.4

127.08.8

118.3

367.5123.0244.5

27.8

II

3,823.0

3,798.4

3,300.93,221.12,940.6

280.582.0

-2.2

128.18.8

119.3

369.4123.4246.1

24.6

III

3,865.3

3,842.0

3,341.23,272.22,989.5

282.782.0

-13.0

130.08.8

121.2

370.8123.7247.1

23.3

IV

3,923.0

3,896.3

3,393.63,317.23,032.8

284.481.8

-5.4

130.78.8

121.9

372.0123.9248.1

26.7

1988

I

3,956.1

3,936.6

3,430.53,360.93,074.8

286.182.3

-12.8

133.38.9

124.4

372.8123.9249.0

19.5

IF

3,988.1

3,966.8

3,458.83,401.73,114.2

287.469.2

-12.1

134.48.9

125.4

373.7123.8249.9

21.3

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 10: SCB_081988

SURVEY OF CURRENT BUSINESS August 1988

Table 1.9.—Relation of Gross National Product, Net National Product,National Income, and Personal Income

[Billions of dollars]

Table 1.14.—National Income by Type of Income[Billions of dollars]

Gross national product

Less: Capital consumptionallowances with capitalconsumption adjustment

Capital consumptionallowances withoutcapital consumptionadj ustment

Less: Capitalconsumptionadjustment

Equals: Net national product

Less: Indirect business tax andnontax liability

Business transferpayments

Statistical discrepancy

Plus: Subsidies less currentsurplus of governmententerprises

Equals: National income

Less: Corporate profits withinventory valuation andcapital consumptionadjustments

Net interestContributions for social

insuranceWage accruals less

disbursements

Plus: Government transferpayments to persons

Personal interest income....Personal dividend income ..Business transfer

payments

Equals: Personal income

1986

4,240.3

455.9

488.4

32.5

3,784.4

348.4

25.1-13.6

12.6

3,437.1

298.9331.9

378.1

0

496.0499.182.8

25.1

3,531.1

1987

4,526.7

480.0

507.6

27.6

4,046.7

366.3

28.1-8.1

18.3

3,678.7

310.4353.6

399.1

0

520.6527.088.6

28.1

3,780.0

Seasonally adjusted at annual rates

1987

I4,391.8

468.7

498.5

29.8

3,923.1

356.9

27.2-8.5

25.5

3,573.0

298.3338.3

391.5

0

511.6507.185.3

27.2

3,676.1

II4,484.2

477.0

504.6

27.6

4,007.2

363.8

27.9-2.5

13.8

3,631.8

305.2348.1

395.4

0

519.9517.987.3

27.9

3,736.1

III4,568.0

484.6

510.8

26.2

4,083.4

370.3

28.5-15.1

8.3

3,708.0

322.0358.3

400.9

.2

523.2533.089.9

28.5

3,801.0

IV4,662.8

489.5

516.4

26.9

4,173.3

374.2

29.0-6.4

25.6

3,802.0

316.1369.5

408.6

-.2

527.8550.091.9

29.0

3,906.8

1988

I4,724.5

498.3

520.8

22.5

4,226.2

379.4

29.6-15.0

18.6

3,850.8

316.2373.9

433.3

0

546.7554.293.5

29.6

3,951.4

II r

4,819.7

502.6

524.1

21.5

4,317.1

385.7

30.3-14.3

18.5

3,933.9

332.0380.8

440.9

0

552.7563.795.0

30.3

4,021.9

Table 1.10.—Relation of Gross National Product, Net National Product,and National Income in Constant Dollars

[Billions of 1982 dollars]

Gross national product

Less: Capital consumptionallowances with capitalconsumption adjustment

Equals: Net national product

Less: Indirect business tax andnontax liability plus businesstransfer payments lesssubsidies plus current surplusof government enterprises

Statistical discrepancy

Equals: National income

3,721.7

443.2

3,278.5

312.1

-12.1

2,978.5

3,847.0

460.8

3,386.2

319.2

-7.0

3,074.0

3,776.7

453.8

3,322.9

314.5

-7.4

3,015.9

3,823.0

458.2

3,364.8

319.6

-2.2

3,047.3

3,865.3

463.0

3,402.2

321.8

-13.0

3,093.4

3,923.0

468.2

3,454.8

321.0

-5.4

3,139.3

3,956.1

472.9

3,483.2

324.4

-12.8

3,171.5

3,988.1

477.3

3,510.8

324.7

-12.1

3,198.2

Table 1.11.—Command-Basis Gross National Product in ConstantDollars

[Billions of 1982 dollars]

Gross national product

Less: Net exports of goods andservices

ExportsImports

Equals: Gross domesticpurchases

Plus: Command-basis netexports of goods and services....

Command-basisexports 1

Imports

Equals: Command-basis grossnational product

Addendum:

Terms of trade 2

3,721.7

13753784515.9

3,859.3

-111.5

40445159

3 747.7

106.8

3,847.0

12894278556.7

3,975.9

-124.3

43245567

3,851.6

101.0

3,776.7

13283949527.7

3,909.5

-122.2

40555277

3,787.3

102.7

3,823.0

12604164542.3

3,949.0

-122.9

4194542.3

3,826.0

100.7

3,865.3

13074409571.6

3,996.0

-126.5

445.1571.6

3,869.4

101.0

3,923.0

-12604592585.2

4,049.0

-125.6

459.6585.2

3,923.4

100.1

3,956.1

-109.0486.2595.1

4,065.1

-111.2

483.9595.1

3,953.9

99.5

3,988.1

-90.1499.7589.7

4,078.2

-87.6

502.2589.7

3,990.6

100.5

1. Exports of goods and services deflated by the implicit price deflator for imports of goods andservices.

2. Ratio of the implicit price deflator for exports of goods and services to the implicit pricedeflator for imports of goods and services with the decimal point shifted two places to the right.

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

National income

Compensation of employees

Wages and salariesGovernment and

government enterprisesOther

Supplements to wages andsalariesEmployer contributions for

social insuranceOther labor income

Proprietors' income withinventory valuation andcapital consumptionadjustments

FarmProprietors' income with

inventory valuationadjustment

Capital consumption

Nonfarm ....Proprietors' incomeInventory valuation

adjustmentCapital consumption

adjustment ,.

Rental income of persons withcapital consumptionadjustment

Rental income of personsCapital consumption

adjustment

Corporate profits withinventory valuation andcapital consumptionadjustments ,

Corporate profits withinventory valuationadjustment

Profits before taxProfits tax liabilityProfits after tax .

DividendsUndistributed profits

Inventory valuationadj ustment

Capital consumptionadjustment

Net interest

Addenda:

Corporate profits after taxwith inventory valuationand capital consumptionadjustments

Net cash flow withinventory valuation andcapital consumptionadjustments .Undistributed profits with

inventory valuation andcapital consumptionqdjustrneptfl ,

Capital consumptionallowances with capitalconsumptionadjustment

Less: Inventory valuationadj ustment

Equals: Net cash flow

1986

3,437.1

2,507.1

2,094.0

393.71,700.3

413.1

217.0196.1

286.7

36.4

44.5

8 1

250.3212.7

1

37.8

12.4

57.4

-45.0

298.9

244.7

236.4106.6129.888.241.6

8.3

54.2

331.9

192.3

386.5

104.1

282.4

8.3378.2

1987

3,678.7

2,683.4

2,248.4

420.11,828.3

435.0

227.1207.9

312.9

43.0

50.6

7 6

270.0233.0

-1.0

38.0

18.4

66.2

-47.8

310.4

258.7

276.7133.8142.995.547.4

180

51.7

353.6

176.6

378.6

81.1

297.5

-18.0396.6

Seasonally adjusted at annual rates

1987

I

3,573.0

2,608.9

2,182.9

410.91,771.9

426.0

222.6203.4

310.1

46.7

54.4

7 7

263.5224.8

-.2

38.8

17.4

63.1

-45.7

298.3

247.5

261.8126.3135.591.743.8

-14.4

50.8

338.3

172.0

371.5

80.3

291.2

144385.9

II

3,631.8

2,652.0

2,220.6

416.91,803.7

431.3

225.0206.4

308.9

43.0

50.7

77

265.9228.6

-1.0

38.2

17.8

65.5

-47.7

305.2

253.6

273.7132.6141.194.047.0

200

51.5

348.1

172.6

373.9

78.5

295.4

-20.0393.9

III

3,708.0

2,702.8

2,265.3

423.21,842.1

437.5

228.2209.3

306.8

35.2

42.9

77

271.5235.1

-1.1

37.6

18.1

67.1

-49.0

322.0

269.9

289.4140.0149.597.052.4

19 5

52.1

358.3

182.1

384.7

85.0

299.7

-19.5404.2

IV

3,802.0

2,769.9

2,324.8

429.21,895.6

445.1

232.7212.4

326.0

47.0

54.5

-7.5

279.0243.4

-1.7

37.4

20.5

69.1

-48.6

316.1

263.7

281.9136.2145.799.346.4

-18.2

52.4

369.5

179.9

384.2

80.5

303.7

-18.2402.4

1988

I

3,850.8

2,816.4

2,358.7

437.11,921.6

457.7

243.1214.6

323.9

44.7

52.2

-7.5

279.2243.7

-1.2

36.6

20.5

69.6

-49.1

316.2

266.8

286.2136.9149.4101.348.1

-19.4

49.4

373.9

179.3

387.8

78.1

309.8

-19.4407.3

II r

3,933.9

2,874.0

2,410.0

443.01,967.0

464.0

247.5216.5

328.2

42.7

50.0

-7.2

285.4250.8

-1.6

36.2

19.0

68.0

-49.0

332.0

283.6

310.7144.1166.6103.163.5

-27.1

48.4

380.8

187.9

397.7

84.8

312.9

-27.1424.8

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 11: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS

Table 1.16.—Gross Domestic Product of Corporate Business in CurrentDollars and Gross Domestic Product of Nonfinancial CorporateBusiness in Current and Constant Dollars

Table 1.17.—Auto Output[Billions of dollars]

Gross domestic productof corporate business

Capital consumption allowanceswith capital consumptionadjustment

Net domestic productIndirect business tax and

nontax liability plusbusiness transfer paymentsless subsidies

Domestic incomeCompensation of employees...

Wages and salariesSupplements to wages

and salariesCorporate profits with

inventory valuation andcapital consumptionadjustmentsProfits before tax

Profits tax liabilityProfits after tax

DividendsUndistributed profits...

Inventory valuationadjustment

Capital consumptionadjustment ....

Net interest

Gross domestic productof financial corporatebusiness

Gross domestic productof nonfinancialcorporate business.

Capital consumption allowanceswith capital consumptionadjustment ,

Net domestic product ..,Indirect business tax and

nontax liability plusbusiness transfer paymentsless subsidies ...

Domestic income.... ... .. .....Compensation of employees-

Wages and salariesSupplements to wages

and salariesCorporate profits with

inventory valuation andcapital consumptionadjustmentsProfits before tax ... .....

Profits tax liabilityProfits after tax

DividendsUndistributed profits-

Inventory valuationadjustment

Capital consumptionadjustment

Net interest

Gross domestic productof nonfinancialcorporate business

Capital consumption allowanceswith capital consumptionadjustment

Net domestic productIndirect business tax and

nontax liability plusbusiness transfer paymentsless subsidies..

Domestic income

1986 1987

Seasonally adjusted at annual rates

1987

I II III IV

1988

I IIr

Billions of 'dollars

2,556.2

282.4

2,273.8

243.62,030.21,693.71,422.2

271.5

266.9204.4106.697.972.825.1

8.3

54.269.5

184.6

2,371.6

264.1

2,107.5

227.71,879.81,564.91,313.4

251.5

230.6172.676.895.874.821.1

8.3

49.684.3

2,717.9

297.5

2,420.4

257.52,162.91,803.71,520.6

283.0

274.0240.3133.8106.583.423.1

180

51.785.2

204.4

2,513.5

276.2

2,237.3

239.81,997.51,661.41,399.7

261.8

237.5210.299.0

111.283.827.4

-18.0

45.398.6

2,638.8

291.2

2,347.6

249.82,097.81,757.81,479.7

278.1

263.8227.3126.3101.078.922.1

-14.4

50.876.1

200.0

2,438.8

271.1

2,167.7

232.71,935.01,617.21,360.2

257.0

227.7196.691.6

105.079.825.2

-14.4

45.590.1

2,687.2

295.4

2,391.9

256.02,135.91,782.41,502.2

280.2

270.8239.3132.6106.780.126.6

-20.0

51.582.7

204.5

2,482.7

274.5

2,208.3

238.41,969.81,640.51,381.6

258.9

233.3207.997.2

110.680.729.9

-20.0

45.596.0

2,752.6

299.7

2,452.9

261.62,191.31,816.01,531.4

284.6

286.7254.1140.0114.283.430.8

-19.5

52.188.6

205.7

2,546.9

278.0

2,268.8

243.62,025.31,673.31,409.9

263.3

250.4224.6105.3119.383.935.4

-19.5

45.3101.6

2,793.0

303.7

2,489.3

262.82,226.51,858.41,569.3

289.1

274.6240.4136.2104.291.312,9.

-18.2

52.493.5

207.4

2,585.6

281.3

2,304.3

244.52,059.71,714.71,447.0

267.8

238.4211.6101.7109.990.819.1

-18.2

45.0106.6

2,845;1

309.8

2,535.4

267.72,267.61,887.71,594.7

293.1

286.0256.0136.9119.275.343.9

194

49.493.9

212.0

2,633.2

•286.8

2,346.4

249.22,097.21,739.61,468.4

271.2

250.6228.4104.4124.174.649.5

-19.4

41.5107.1

2,903.2

312.9

2,590.3

271.72,318.61,927.91,630.8

297.1

293.8272.5144.1128.487.640.8

271

48.496.9

216.0

2,687.2

289.7

2,397.6

252.92,144.71,777.81,502.8

275.0

256.3243.6111.0132.686.845.8

-27.1

39.8110.6

Billions of 1982 dollars

2,177.2

260.21,917.0

199.11,717.9

2,270.4

269.42,001.0

203.21,797.8

2,215.0

265.81,949.2

199.91,749.3

2,248.0

268.11,979.9

203.31,776.5

2,296.1

270.62,025.5

205.41,820.1

2,322.5

273.22,049.3

204.31,845.1

2,363.5

275.72,087.8

206.31,881.4

2,393.5

278.12,115.5

206.81,908.7

Auto output

Final salesPersonal consumption

expenditures .New autosNet purchases of used autos..

Producers' durable equipment ..New autosNet purchases of used autos..

Net exports of goods andservicesExportsImports

Government purchases ofgoods and services

Change in business inventoriesof new and used autosNewUsed

Addenda:

Domestic output of newautos l

Sales of imported new autos 2...

1986

120.6

119.0

136.3101.434.920.345.1

-24.7

-39.06.3

45.3

1.4

1.61.4.2

98.255.3

1987

116.3

109.4

130.094.135.919.244.4

-25.2

-41.36.6

47.9

1.5

6.96.7

.2

94.855.0

Seasonally adjusted at annual rates

1987

I

116.2

96.8

120.185.035.117.040.4

-23.4

-41.75.1

46.8

1.4

19.420.9

-1.6

97.749.1

II

113.1

108.0

127.791.436.218.744.9

-26.2

-40.16.8

46.9

1.6

5.24.3

.9

92.653.5

III

115.3

126.2

144.4109.035.421.747.2

-25.6

4136.4

47.7

1.4

10.81241.6

90.160.2

IV

120.6

106.6

128.090.937.019.344.9

-25.6

-42.38.1

50.3

1.6

14.014.00

98.757.2

1988

I

113.1

117.8

133.9100.233.722.147.9

-25.7

-40.18.2

48.3

1.9

-4.7-9.1

4.4

88.760.2

IIr

129.5

127.9

138.2100.437.724.049.0

-25.1

-35.88.3

44.1

1.6

1.62.9

-1.3

103.160.5

1. Consists of final sales and change in business inventories of new autos assembled in theUnited States.

2. Consists of personal consumption expenditures, producers' durable equipment, and govern-ment purchases.

Table 1.18.—Auto Output in Constant Dollars[Billions of 1982 dollars]

Auto output

Final salesPersonal consumption

expenditures . .New autos . ...Net purchases of used autos..

Producers' durable equipment..New autos.Net purchases of used autos..

Net exports of goods andservices ..ExportsImports ..

Government purchases ofgoods and services...

Change in business inventoriesof new and used autosNewUsed

Addenda:

Domestic output of newautos 1

Sales of imported new autos 2...

1986

106.2

106.6

119.089.229.818.239.7

-21.5

^31.95.3

37.3

1.3

-.3-.5

.2

85.348.7

1987

100.6

95.1

108.880.028.816.337.7

-21.5

-31.45.4

36.8

1.4

5.55.3

.2

80.546.8

Seasonally adjusted at annual rates

1987

I

102.0

85.6

102.673.129.514.034.8

-20.7

-32.34.2

36.5

1.2

16.417.8

-1.5

84.342.2

II

98.4

94.5

107.378.229.116.038.4

-22.4

3025.6

35.9

1.4

3.93.1.8

78.945.8

III

99.2

109.0

120.292.427.818.640.0

-21.4

-31.15.3

36.3

1.3

-9.8-11.2

1.3

75.851.0

IV

102.9

91.4

105.376.528.816.437,8

-21.4

-31.86.6

38.4

1.4

11.511.50

83.148.1

1988

I

96.0

101.0

110.484.326.019.040.3

-21.2

-30.16.7

36.8

1.7

-4.9-8.5

3.6

74.250.7

IF

110.5

109.2

114.184.129.920.341.1

-20.8

-26.56.8

33.3

1.4

1.22.4

-1.1

86.350.7

1. Consists of final sales and change in business inventories of new autos assembled in theUnited States.

2. Consists of personal consumption expenditures, producers' durable equipment, and govern-ment purchases.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 12: SCB_081988

10 SURVEY OF CURRENT BUSINESS August 1988

Table 1.19.—Truck Output[Billions of dollars]

Table 1.20.—Truck Output in Constant Dollars[Billions of 1982 dollars]

Truck output 1

Final salesPersonal consumption

expendituresProducers' durable equipment..Net exports of goods and

servicesExportsImports

Government purchases ofgoods and services

Change in business inventories ...

1986

55.2

54.8

26.030.8

-7.33.0

10.3

5.3

.5

1987

59.6

58.3

27.733.0

-7.03.3

10.3

4.7

1.3

Seasonally adjusted at annual rates

1987

I

58.1

52.7

25.630.4

-8.12.6

10.7

4.8

5.4

II

57.8

58.0

28.633.1

-7.93.0

11.0

4.2

-.2

III

58.0

61.6

29.134.3

-6.63.39.9

4.8

-3.6

IV

64.6

60.9

27.334.2

-5.64.29.8

5.0

3.7

1988

I

65.8

66.2

28.736.4

-4.94.19.0

6.0

-.4

II r

65.2

65.3

29.036.0

-5.53.79.2

5.8

0

1. Includes new trucks only.

Table 2.1.—Personal Income and Its Disposition[Billions of dollars]

Personal income

Wage and salarydisbursements

Commodity-producingindustriesManufacturing

Distributive industriesService industriesGovernment and

government enterprises

Other labor income

Proprietors' income withinventory valuation andcapital consumptionadjustments

FarmNonfarm

Rental income of personswith capital consumptionadjustment...

Personal dividend incomePersonal interest incomeTransfer payments ,

Old-age, survivors,disability, and healthinsurance benefits

Government unemploymentinsurance benefits

Veterans benefitsGovernment employees

retirement benefitsOther transfer payments

Aid to families withdependent children

Other

Less: Personal contributionsfor social insurance

Less: Personal tax and nontaxpayments

Equals: Disposable personalincome

Less: Personal outlays

Personal consumptionexpenditures

Interest paid by consumers tobusiness

Personal transfer payments toforeigners (net)

Equals: Personal saving

Addenda:

Disposable personal income:Total, billions of 1982

dollarsPer capita:

Current dollars1982 dollars

Population (mid-period,millions)

Personal saving aspercentage of disposablepersonal income

1986

3,531.1

2,094.0

625.5473.1498.9575.9

393.7

196.1

286.7

36.4250.3

12.482.8

499.1521.1

269.3

16.316.7

70.6148.2

16.3131.9

161.1

511.4

3,019.6

2,898.0

2,807.5

89.1

1.4

121.7

2,640.9

12,49610,929

241.7

4.0

1987

3,780.0

2,248.4

649.8490.3531.7646.8

420.1

207.9

312.9

43.0270.0

18.488.6

527.0548.8

282.9

14.716.6

75.7158.9

16.7142.1

172.0

570.3

3,209.7

3,105.5

3,012.1

92.1

1.3

104.2

2,686.3

13,15711,012

243.9

3.2

Seasonally adjusted at annual rates

1987

I

3,676.1

2,182.9

638.2482.7516.6617.1

410.9

203.4

310.1

46.7263.5

17.485.3

507.1538.8

277.9

15.716.6

73.5155.1

16.6138.5

168.9

532.2

3,143.9

3,013.1

2,921.7

90.1

1.4

130.8

2,679.6

12,93411,024

243.1

4.2

II

3,736.1

2,220.6

642.8484.6526.1634.8

416.9

206.4

308.9

43.0265.9

17.887.3

517.9547.8

282.8

15.116.7

75.5157.6

16.7140.9

170.5

582.0

3,154.1

3,084.7

2,992.2

91.1

1.4

69.5

2,652.8

12,94710,889

243.6

2.2

III

3,801.0

2,265.1

652.8492.6536.8652.4

423.0

209.3

306.8

35.2271.5

18.189.9

533.0551.7

284.5

14.516.6

76.7159.4

16.8142.7

172.7

576.2

3,224.9

3,152.3

3,058.2

92.8

1.3

72.6

2,683.9

13,20410,989

244.2

2.3

IV

3,906.8

2,325.1

665.5501.3547.3682.8

426.5

212.4

326.0

47.0279.0

20.591.9

550.0556.8

286.5

13.416.6

77.1163.3

16.8146.5

175.9

591.0

3,315.8

3,171.8

3,076.3

94.4

1.2

144.0

2,728.9

13,54311,145

244.8

4.3

1988

I

3,951.4

2,358.7

676.0509.6558.2687.4

437.1

214.6

323.9

44.7279.2

20.593.5

554.2576.3

298.1

13.917.0

80.4166.9

16.9150.0

190.2

575.8

3,375.6

3,225.7

3,128.1

96.4

1.2

149.9

2,762.3

13,76011,260

245.3

4.4

IF

4,021.9

2,410.0

689.1517.4572.2705.7

443.0

216.5

328.2

42.7285.4

19.095.0

563.7583.0

300.4

13.417.1

82.3169.8

17.1152.7

193.5

601.0

3,421.0

3,288.3

3,189.1

98.1

1.1

132.6

2,764.6

13,91811,247

245.8

3.9

Truck output 1

Final salesPersonal consumption

expenditures ,Producers' durable equipment-Net exports of goods and

ExportsImports

Government purchases ofgoods and services

Change in business inventories..

1986

47.8

47.4

22.526.6

-6.32.68.9

4.6

.4

1987

50.8

49.7

23.528.2

-6.02.88.8

4.0

1.1

Seasonally adjusted at annual rates

1987

I

49.4

44.9

21.825.9

-6.92.39.1

4.1

4.5

II

49.4

49.6

24.428.4

6.82.69.4

3.6

-.2

III

49.4

52.5

24.829.2

-5.62.88.5

4.1

-3.0

IV

54.9

51.9

23.029.3

-4.73.68.3

4.3

3.0

1988

I

55.8

56.2

24.231.0

-4.13.57.6

5.1

-.3

IIr

55.4

55.4

24.530.7

-4.73.17.8

4.9

0

1. Includes new trucks only.

Table 2.2.—Personal Consumption Expenditures by Major Type ofProduct

[Billions of dollars]

Personal consumptionexpenditures

Durable goods

Motor vehicles and partsFurniture and household

equipmentOther

Nondurable goods

FoodClothing and shoesGasoline and oil .Other nondurable goods

Fuel oil and coalOther

Services

HousingHousehold operation

Electricity and gasOther

TransportationMedical careOther

1986

2,807.5

406.5

196.4

140.070.1

943.6

501.0167.073.3

202.216.7

185.6

1,457.3

434.3179.987.492.595.8

320.1427.2

1987

3,012.1

421.9

195.8

148.377.8

997.9

526.4178.277.0

216.316.2

200.1

1,592.3

467.7186.388.897.5

106.2360.3471.8

Seasonally adjusted at annual rates

1987

I

2,921.7

403.5

181.7

145.975.9

977.5

521.0174.572.1

209.915.7

194.2

1,540.7

455.4180.084.995.1

102.1344.0459.2

II

2,992.2

420.5

194.5

147.878.3

995.3

525.3176.877.4

215.816.3

199.5

1,576.4

462.6187.390.696.8

104.6355.7466.2

III

3,058.2

441.4

212.9

150.278.3

1,006.6

528.4180.479.3

218.516.0

202.5

1,610.2

471.1189.690.898.8

105.8367.3476.4

IV

3,076.3

422.0

194.0

149.478.6

1,012.4

530.9181.279.3

220.916.6

204.2

1,641.9

481.8188.288.899.5

112.0374.4485.4

1988

I

3,128.1

437.8

202.2

154.781.0

1,016.2

535.9180.576.3

223.517.0

206.6

1,674.1

490.1190.990.2

100.7111.3384.9497.0

II r

3,189.1

448.2

207.2

159.481.6

1,035.7

546.1183.478.4

227.817.3

210.6

1,705.2

496.4193.891.2

102.6114.0395.6505.3

Table 2.3.—Personal Consumption Expenditures by Major Type ofProduct in Constant Dollars

[Billions of 1982 dollars]

Personal consumptionexpenditures

Durable goods

Motor vehicles and partsFurniture and household

equipmentOther....

Nondurable goods

FoodClothing and shoesGasoline and oilOther nondurable goods

Fuel oil and coalOther

Services

HousingHousehold operation

Electricity and gas....

TransportationMedical careOther

1986

2,455.2

385.0

176.4

143.265.4

879.5

448.0157.697.3

176.622.0

154.6

1,190.7

348.3152.176.675.585.4

251.5353.4

1987

2,521.0

390.9

170.4

151.069.6

890.5

450.4160.598.3

181.321.1

160.2

1,239.5

358.3157.079.078.089.3

268.2366.6

Seasonally adjusted at annual rates

1987

I

2,490.2

378.3

160.7

148.569.1

889.9

452.9160.797.3

179.021.3

157.7

1,222.0

355.0152.776.076.787.6

261.4365.3

II

2,516.6

391.3

169.9

151.070.4

889.8

450.1158.299.6

181.921.3

160.6

1,235.5

357.1158.180.577.688.9

266.6364.8

III

2,545.2

406.5

184.2

152.769.7

891.9

449.4162.997.8

181.720.4

161.4

1,246.8

359.3159.280.578.690.1

270.9367.3

IV

2,531.7

387.6

166.7

151.969.0

890.5

449.2160.398.4

182.621.4

161.2

1,253.6

361.7158.179.279.090.8

274.0369.0

1988

I

2,559.8

401.1

173.5

157.370.3

892.7

451.4159.698.8

183.022.0

161.0

1,265.9

363.6160.480.580.091.7

276.9373.2

IF

2,577.2

409.3

177.7

161.769.9

892.7

453.0156.599.3

183.921.9

162.0

1,275.2

365.6161.380.980.493.3

279.0376.0

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 13: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 11

Table 3.2.—Federal Government Receipts and Expenditures[Billions of dollars]

Table 3.3.—State and Local Government Receipts and Expenditures[Billions of dollars]

Receipts

Personal tax and nontaxreceiptsIncome taxesEstate and gift taxesNontaxes

Corporate profits tax accrualsFederal Reserve banksOther

Indirect business tax andnontax accrualsExcise taxesCustoms dutiesNontaxes .

Contributions for socialinsurance

Expenditures

Purchases of goods and services...National defenseNondefense

Transfer paymentsTo personsTo foreigners

Grants-in-aid to State and localgovernments

Net interest paidInterest paid

To persons and businessTo foreigners

Less: Interest received bygovernment

Subsidies less current surplus ofgovernment enterprisesSubsidiesLess: Current surplus of

government enterprises

Less: Wage accruals lessdisbursements

Surplus or deficit (-),national income andproduct accounts

Social insurance fundsOther

1986

828.3

361.5353.6

7.1.8

83.917.866.1

50.830.913.76.3

332.2

1,033.9

366.2277.588.7

399.8385.913.9

106.8

135.4158.3135.622.6

22.8

25.726.5

.8

0

-205.6

17.4-223.1

1987

916.5

405.6396.8

7.41.4

105.817.788.1

54.031.815.46.8

351.0

1,074.2

382.0295.386.7

414.2402.0

12.2

102.7

143.0162.5138.424.1

19.4

32.430.8

-1.6

0

-157.8

27.5-185.3

Seasonally adjusted at annual rates

1987

I

871.3

373.8365.4

7.31.1

100.117.482.8

53.031.315.16.6

344.5

1,059.6

372.7287.385.4

406.6396.010.6

101.9

139.0158.9135.123.8

19.9

39.437.7

-1.8

0

-188.3

24.2-212.5

II

920.0

413.1403.9

7.81.3

105.017.787.2

54.331.915.66.8

347.7

1,064.0

377.5294.882.6

413.4402.211.2

105.5

139.8159.5135.623.9

19.6

27.827.3

-.5

0

-144.0

23.2-167.2

III

930.1

413.3403.9

7.71.7

110.517.992.6

53.931.715.26.9

352.4

1,068.4

386.3299.886.4

414.2403.5

10.7

101.9

143.8163.0139.123.9

19.3

22.620.8

-1.8

.2

-138.3

27.8-166.1

IV

944.4

422.3414.1

6.71.6

107.717.989.8

55.032.215.87.0

359.4

1,104.9

391.4299.292.2

422.5406.116.4

101.4

149.5168.4143.824.6

18.9

39.737.6

-2.1

2

-160.4

34.9-195.3

1988

I

951.0

404.6395.9

7.11.5

107.218.488.8

55.932.416.57.0

383.4

1,106.1

377.7298.479.3

434.4422.911.5

111.1

149.9172.5146.026.6

22.6

33.029.6

-3.3

0

-155.1

44.8-199.8

II r

983.6

425.0415.1

8.21.7

112.418.394.0

55.933.015.97.0

390.3

1,114.5

381.6298.283.4

437.3426.510.7

110.4

152.0171.8145.026.8

19.9

33.232.0

-1.3

0

-130.9

49.9-180.7

Table 3.7B.—Government Purchases of Goods and Services by Type[Billions of dollars]

Government purchases ofgoods and services

Federal

National defenseDurable goods .Nondurable goodsServices

Compensation of

MilitaryCivilian

Other servicesStructures

NondefenseDurable goodsNondurable goods

Commodity CreditCorporation inventorychange

Other nondurablesServices

Compensation ofemployees

Other servicesStructures

State and local

Durable goodsNondurable goodsServices

Compensation of employees...Other services

Structures

1986

871.2

366.2

277.583.511.1

176.4

104.070.233.872.4

6.6

88.74.1

11.1

5.35.7

65.9

39.526.47.6

505.0

24.340.0

380.4299.980.560.3

1987

924.7

382.0

295.389.810.5

187.8

108.973.235.778.97.2

86.74.13.2

-3.36.5

70.9

42.128.88.5

542.8

26.944.1

409.6321.787.962.2

Seasonally adjusted at annual rates

1987

I

903.8

372.7

287.388.39.6

182.6.

107.972.835.174.86.9

85.43.96.2

.35.9

67.3

41.326.08.0

531.1

26.042.6

399.4313.785.763.1

II

915.7

377.5

294.889.510.2

188.5

108.773.035.779.8

6.6

82.64.0-.4

-7.57.1

70.3

42.128.28.7

538.2

2&643.8

406.0319.087.061.8

III

932.2

386.3

299.893.110.9

188.1

109.073.135.979.17.8

86.44.21.9

-4.86.7

71.5

42.329.18.9

546.0

27.344.9

413.1324.488.760.7

IV

947.3

391.4

299.288.411.3

191.9

110.073.936.281.97.6

92.24.54.9

-1.46.3

74.5

42.731.88.3

555.9

27.845.0

420.0329.990.263.1

1988

I

945.2

377.7

298.483.810.8

197.3

112.775.537.284.66.6

79.34.691

-17.58.4

76.4

44.032.37.5

567.5

28.445.3

428.7336.492.265.2

IF

961.0

381.6

298.284.411.0

195.9

113.275.837.482.76.8

83.45.0

-8.1

-16.88.7

78.6

44.334.38.0

579.4

29.247.0

436.7342.194.766.5

Receipts

Personal tax and nontaxreceipts

Income taxesNontaxesOther

Corporate profits tax accruals

Indirect business tax andnontax accruals.. . . .

Sales taxesProperty taxesOther

Contributions for socialinsurance

Federal grants-in-aid

Expenditures

Purchases of goods and services...

Compensation of employeesOther . .

Transfer payments to persons

Interest paidLess: Interest received by

government

Less: Dividends received bygovernment

Subsidies less current surplus ofgovernment enterprises

SubsidiesLess: Current surplus of

government enterprises

Less: Wage accruals lessdisbursements

Surplus or deficit (-),national income andproduct accounts ....

Social insurance fundsOther

1986

623.0

150.0

76.860.412.7

22.7

297.6

139.9114.643.1

46.0

106.8

561.9

505.0

299.9205.2

110.1

348

47.6

82.4

5.5

-13.1

.8

13.9

0

61.2

56.25.0

1987

655.7

164.7

86.164.813.8

27.9

312.3

148.7121.941.6

48.1

102.7

602.8

542.8

321.7221.1

118.7

377

53.3

91.0

6.9

-14.0

1.0

15.0

0

52.9

62.192

Seasonally adjusted at annual rates

1987

I

637.5

158.4

81.863.213.5

26.2

304.0

143.6119.141.3

47.0

101.9

589.9

531.1

313.7217.4

115.6

365

51.2

87.7

6.4

-13.9

.9

14.8

0

47.7

59.5-11.8

II

659.3

168.9

90.964.313.7

27.6

309.5

147.4121.041.2

47.7

105.5

597.9

538.2

319.0219.2

117.7

-37.3

52.6

89.9

6,7

-13.9

.9

14.9

0

61.4

61.2.1

III

659.1

162.9

83.565.413.9

29.4

316.5

151.5122.842.1

48.4

101.9

606.2

546.0

324.4221.6

119.7

-38.0

54.0

92.1

7.2

-14.3

1.0

15.3

0

52.9

63.0-10.1

IV

666.9

168.6

88.166.514.1

28.5

319.2

152.5124.742.0

49.2

101.4

617.2

555.9

329.9226.0

121.7

388

55.4

94.2

7.5

-14.1

1.0

15.1

0

49.7

64.6-14.8

1988

I

685.5

171.3

89.367.614.3

29.7

323.5

154.3126.642.6

49.9

111.1

629.7

567.5

336.4231.1

123.8

39 5

56.8

96.3

7.8

-14.4

1.0

15.5

0

55.8

66.1-10.3

II r

698.6

176.0

92.668.714.7

31.8

329.8

157.8128.543.4

50.6

110.4

642.4

579.4

342.1237.4

126.1

403

58.3

98.6

8.1

-14.7

1.1

15.8

0

56.2

67.7-11.6

Table 3.8B.—Government Purchases of Goods and Services by Type inConstant Dollars[Billions of 1982 dollars]

3

8

IF

Government purchases of961.0 goods and services

381.6 Federal

298.2 National defense84.4 Durable goods..11.0 Nondurable goods

195.9 ServicesCompensation of

113.2 employees75.8 Military37.4 Civilian82.7 Other services...6.8 Structures

83.4 Nondefense5.0 Durable goods

— 8.1 Nondurable goodsCommodity Credit

Corporation inventory— 16.8 change

8.7 Other nondurables78.6 Services

Compensation of44.3 employees34.3 Other services8.0 Structures

579.4 State and local

29.2 Durable goods47.0 Nondurable goods

436.7 Services342.1 Compensation of employees...94.7 Other services66.5 Structures

1986

760.5

333.4

251.478.115.4

152.3

88.859.928.963.45.6

82.04.5

13.4

7.85.6

57.1

33.723.46.9

427.1

22.544.3

306.9240.866.153.4

1987

780.2

339.0

264.987.914.7

156.4

89.360.229.067.25.9

74.14.82.5

-3.96.4

59.2

34.225.07.5

441.2

24.446.4

316.0246.469.654.3

Seasonally adjusted at annual rates

1987

I

772.9

334.0

257.083.714.1

153.5

89.160.328.864.55.7

77.04.58.7

2.85.9

56.6

33.922.87.1

438.9

23.746.1

313.4244.568.955.7

II

772.2

332.1

264.887.214.6

157.6

89.160.129.068.55.5

67.34.6

-3.8

-11.07.2

58.8

34.224.57.8

440.1

24.246.3

315.4246.169.354.3

III

782.9

342.1

269.592.114.6

156.4

89.360.229.167.16.3

72.64.9.3

-6.36.6

59.5

34.425.27.8

440.8

24.746.6

316.8247.1

69.752.8

IV

792.6

347.7

268.288.415.6

158.0

89.560.329.268.66.1

79.55.44.9

-1.16.1

61.8

34.427.47.3

444.9

25.146.9

318.5248.170.454.4

1988

I

776.4

327.8

264.684.914.6

159.9

89.360.129.270.55.2

63.25.6

-11.1

-19.38.2

62.2

34.527.76.5

448.7

25.547.5

320.3249.071.355.4

IIr

783.3

331.0

263.285.514.5

157.9

89.159.929.268.75.4

67.85.9

-8.7

-17.08.3

63.7

34.629.16.8

452.3

26.048.3

322.2249.972.355.8

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 14: SCB_081988

12 SURVEY OF CURRENT BUSINESS August 1988

Table 3.9.—National Defense Purchases of Goods and Services[Billions of dollars]

Table 3.10.—National Defense Purchases of Goods and Services inConstant Dollars[Billions of 1982 dollars]

National defensepurchases

Durable goods

Military equipmentAircraftMissilesShipsVehiclesElectronic equipmentOther

Other durable goods

Nondurable goods

Petroleum productsAmmunitionOther nondurable goods

Services

Compensation of employeesMilitaryCivilian

Other servicesContractual research and

developmentInstallation support 1Weapons support 2

Personnel support 3Transportation of materiel ....Travel of personsOther

Structures

Military facilitiesOther

1986

277.5

83.5

71.132.911.58.54.75.18.4

12.4

11.1

4.34.32.5

176.4

104.070.233.872.4

28.618.67.8

10.43.43.5

.2

6.6

4.12.4

1987

295.3

89.8

77.333.413.08.54.85.8

11.812.5

10.5

4.23.82.5

187.8

108.973.235.778.9

28.522.39.0

11.34.03.80

7.2

4.92.4

Seasonally adjusted at annual rates

1987

I

287.3

88.3

76.733.112.48.45.25.8

11.811.6

9.6

3.43.82.4

182.6

107.972.835.174.8

28.820.58.69.93.53.7-.3

6.9

4.42.4

II

294.8

89.5

76.831.313.99.14.95.9

11.612.7

10.2

3.83.82.6

188.5

108.773.035.779.8

29.122.48.9

11.53.83.8

.2

6.6

4.52.2

III

299.8

93.1

79.935.412.58.44.45.9

13.413.2

10.9

4.34.12.5

188.1

109.073.135.979.1

27.622.89.2

12.14.23.8-.6

7.8

5.22.5

IV

299.2

88.4

75.933.713.38.24.65.6

10.512.4

11.3

5.33.62.4

191.9

110.073.936.281.9

28.423.49.3

11.94.53.9

.7

7.6

5.32.3

1988

I

298.4

83.8

72.329.811.78.44.55.9

12.011.5

10.8

4.33.82.6

197.3

112.775.537.284.6

30.624.79.3

11.74.33.7.3

6.6

4.22.4

IIr

298.2

84.4

73.229.612.57.94.66.0

12.511.3

11.0

4.44.12.5

195.9

113.275.837.482.7

30.223.89.1

11.44.23.9.1

6.8

4.62.2

1. Includes utilities, communications, rental payments, maintenance and repair, and paymentsto contractors to operate installations.

2. Includes depot maintenance and contractual services for weapons systems, other thanresearch and development.

3. Includes compensation of foreign personnel, consulting, training, and education.

Table 4.1.—Foreign Transactions in the National Income and ProductAccounts

[Billions of dollars]

Receipts from foreigners ...

Exports of goods and servicesMerchandise

Durable goodsNondurable goods

Services...Factor income x

Other

Capital grants received by theUnited States (net)

Payments to foreigners

Imports of goods and servicesMerchandise

Durable goodsNondurable goods

ServicesFactor income 1

Other

Transfer payments (net) . .From persons (net)From government (net)

Interest paid by government toforeigners

Net foreign investment

1986

378.4

378.4225.0140.484.6

153.487.565.9

0

378.4

482.8367.7238.7129.0115.152.662.5

15.41.4

13.9

22.6

1424

1987

428.0

428.0254.8158.396.4

173.396.177.2

0

428.0

551.1413.0264.5148.5138.166.671.5

13.51.3

12.2

24.1

-160.6

Seasonally adjusted at annual rates

1987

I

395.3

395.3232.5144.288.3

162.888.174.7

0

395.3

514.4390.1253.2136.8124.356.268.1

11.91.4

10.6

23.8

-154.8

II

416.8

416.8245.1150.694.5

171.793.877.9

0

416.8

539.0402.3258.0144.3136.765.671.1

12.61.4

11.2

23.9

-158.6

III

440.4

440.4264.8163.5101.3175.697.378.3

0

440.4

565.6421.7265.2156.5143.970.573.4

12.01.3

10.7

23.9

-161.1

IV

459.7

459.7276.7175.0101.7183.0105.177.9

0

459.7

585.4438.0281.8156.2147.474.173.3

17.61.2

16.4

24.6

-167.8

1988

I

487.8

487.8300.8188.2112.5187.0104.782.3

0

487.8

599.9441.7287.5154.2158.282.375.8

12.71.2

11.5

26.6

-151.3

IP

508.0

508.0318.8199.4119.3189.2106.982.3

0

508.0

596.6438.5286.1152.4158.182.076.1

11.81.1

10.7

26.8

-127.2

National defenseourchases

Durable foods

Military equipmentAircraftMissilesShips ,VehiclesElectronic equipmentOther

Other durable goods

Nondurable goods

Petroleum productsAmmunitionOther nondurable goods

Services

Compensation of employeesMilitaryCivilian

Other services ,Contractual research and

development ,Installation support lWeapons support 2 ,Personnel support 3Transportation of materiel ....Travel of personsOther

Structures

Military facilitiesOther

1986

251.4

78.1

64.028.010.97.45.04.88.0

14.2

15.4

8.54.62.3

152.3

88.859.928.963.4

25.315.56.98.53.73.4

.2

5.6

3.42.2

1987

264.9

87.9

72.530.712.87.35.15.5

11.015.4

14.7

8.44.02.3

156.4

89.360.229.067.2

24.717.97.98.84.23.70

5.9

3.92.0

Seasonally adjusted at annual rates

1987

I

257.0

83.7

69.729.011.37.25.55.4

11.114.0

14.1

8.03.82.2

153.5

89.160.328.864.5

25.216.87.67.83.73.6-.3

5.7

3.62.1

II

264.8

87.2

71.828.713.77.85.35.6

10.815.4

14.6

8.24.02.4

157.6

89.160.129.068.5

25.418.17.99.14.13.8

.2

5.5

3.61.8

III

269.5

92.1

75.933.412.57.24.85.6

12.416.2

14.6

8.14.32.3

156.4

89.360.229.167.1

23.818.18.19.54.43.7

5

6.3

4.22.1

IV

268.2

88.4

72.631.913.77.14.95.39.7

15.9

15.6

9.53.92.2

158.0

89.560.329.268.6

24.218.48.09.04.63.8

.5

6.1

4.21.9

1988

I

264.6

84.9

69.529.012.27.24.75.5

10.915.4

14.6

8.34.12.3

159.9

89.360.129.270.5

25.919.58.08.94.43.6

.2

5.2

3.31.9

IP

263.2

85.5

70.328.613.06.75.05.7

11.415.2

14.5

7.84.42.2

157.9

89.159.929.268.7

25.418.67.88.74.33.8

.1

5.4

3.61.8

1. Includes utilities, communications, rental payments, maintenance and repair, and paymentsto contractors to operate installations.

2. Includes depot maintenance and contractual services for weapons systems.3. Includes compensation of foreign personnel, consulting, training, and education.

Table 4.2.—Exports and Imports of Goods and Services in ConstantDollars

[Billions of 1982 dollars]

Exports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor income 1 . . .Other

Imports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor income 1 .Other

1986

378.4

243.7152.691.0

134.775.858.9

515.9

412.3241.4170.9

103.745.058.7

1987

427.8

280.1177.3102.8

147.780.367.4

556.7

439.0260.2178.8

117.754.763.0

Seasonally adjusted at annual rates

1987

I

394.9

254.7158.696.1

140.274.665.6

527.7

420.2249.3170.8

107.646.860.8

II

416.4

269.4167.9101.5

146.978.868.2

542.3

425.3252.5172.8

117.054.262.8

III

440.9

291.6184.0107.7

149.281.068.2

571.6

449.5262.2187.3

122.257.764.4

IV

459.2

304.6198.8105.8

154.687.067.6

585.2

461.0276.9184.1

124.260.363.9

1988

I

486.2

329.0215.4113.6

157.186.370.9

595.1

463.1279.1184.1

132.066.865.2

IP

499.7

342.3225.3117.0

157.486.970.5

589.7

458.9276.7182.2

130.965.665.2

1. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.

1. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 15: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 13

Table 4.3.—Merchandise Exports and Imports by Type of Product andby End-Use Category

[Billions of dollars]

Table 4.4.—Merchandise Exports and Imports by Type of Product andby End-Use Category in Constant Dollars

[Billions of 1982 dollars]

Merchandise exports....

Foods, feeds, and beveragesIndustrial supplies and

materialsDurable goodsNondurable goods

Capital goods, except autosAutos ..Consumer goods

Durable goodsNondurable goods

OtherDurable goods *Nondurable goods * ....

Merchandise imports

Foods, feeds, and beveragesIndustrial supplies and

materials, excludingpetroleumDurable goods . ....Nondurable goods

Petroleum and productsCapital goods, except autosAutosConsumer goods

Durable goodsNondurable goods

OtherDurable goods 1

Nondurable goods 1

Addenda:

Exports of agriculturalproducts 2

Exports of nonagriculturalproducts

Imports of nonpetroleumproducts ....

1986

225.0

23.1

58.418.140.379.324.914.65.88.8

24.612.312.3

367.7

24.3

62.234.327.834.472.178.179.245.433.817.48.78.7

27.4

197.7

333.3

1987

254.8

24.6

66.520.945.688.126.318.07.4

10.531.315.7.15.7

413.0

24.7

66.635.631.042.984.885.288.749.039.720.210.110.1

29.5

225.3

370.1

Seasonally adjusted at annual rates

1987

I

232.5

21.4

61.519.042.579.324.416.46.89.7

29.514.714.7

390.1

24.2

65.035.229.835.076.683.885.847.838.019.69.89.8

25.9

206.5

355.0

II

245.1

23.5

65.420.145.383.224.917.57.1

10.430.515.315.3

402.3

24.9

62.833.329.440.382.484.088.848.740.119.29.69.6

28.5

216.6

362.0

III

264.8

28.1

68.221.546.793.325.418.67.7

10.931.215.615.6

421.7

24.8

66.235.131.051.087.084.188.148.839.420.510.210.2

33.1

231.7

370.6

IV

276.7

25.4

71.022.848.196.530.519.38.1

11.134.117.017.0

438.0

25.1

72.338.633.745.293.288.792.050.641.421.410.710.7

30.5

246.2

392.8

1988

I

300.8

30.1

77.824.653.3

105.431.721.29.3

11.934.617.317.3

441.7

26.0

76.741.835.039.896.487.494.251.542.821.110.510.5

36.1

264.7

401.9

II r

318.8

32.9

82.728.254.5

110.032.123.010.112.938.119.019.0

438.5

23.8

75.139.935.240.9

100.684.492.750.742.021.010.510.5

38.8

280.0

397.6

1. Because no data are available to distribute exports and imports of "other" merchandisebetween durable and nondurable goods, they are distributed equally.

2. Includes parts of line 2 and line 5.

NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. Fora description of the new definitions, see the technical notes in 'U.S. International Transactions,First Quarter 1988,' SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.

Merchandise exports

Foods, feeds, and beveragesIndustrial supplies and

materials ...Durable goodsNondurable goods

Capital goods, except autosAutosConsumer goods

Durable goodsNondurable goods

OtherDurable goods x

Nondurable goods 1

Merchandise imports

Foods, feeds, and beveragesIndustrial supplies and

materials, excludingpetroleumDurable goodsNondurable goods

Petroleum and productsCapital goods, except autosAutos .Consumer goods

Durable goodsNondurable goods

OtherDurable goods *Nondurable goods l

Addenda:

Exports of agriculturalproducts 2.

Exports of nonagriculturalproducts

Imports of nonpetroleumproducts

1986

243.7

26.3

63.819.744.092.422.314.15.88.3

24.812.412.4

412.3

23.2

73.640.633.075.382.866.074.543.531.016.98.48.4

30.6

213.0

337.0

1987

280.1

29.9

69.721.947.8

109.523.216.77.39.5

31.015.515.5

439.0

23.9

74.239.834.577.999.468.177.143.833.418.39.29.2

34.9

245.2

361.1

Seasonally adjusted at annual rates

1987

I

254.7

26.2

67.020.746.394.621.815.56.68.8

29.714.814.8

420.2

23.5

76.641.635.070.086.868.176.843.733.218.49.29.2

30.9

223.8

350.2

II

269.4

28.9

69.321.348.0

102.422.016.47.19.4

30.515.215.2

425.3

24.6

71.638.133.472.294.667.177.643.833.817.68.88.8

33.9

235.6

353.1

III

291.6

34.3

70.422.248.2

116.422.417.37.59.8

30.815.415.4

449.5

23.8

71.838.233.688.0

104.067.276.243.532.718.59.29.2

39.7

252.0

361.5

IV

304.6

30.5

72.023.248.9

124.526.817.67.89.8

33.216.616.6

461.0

23.7

77.041.135.981.4

112.269.977.844.133.718.99.59.5

35.2

269.4

379.6

1988

I

329.0

34.1

76.924.352.6

138.027.919.18.8

10.333.016.516.5

463.1

23.8

77.142.035.182.2

116.467.777.643.833.818.19.19.1

39.3

289.7

380.9

IF

342.3

34.9

80.427.453.0

142.428.220.79.5

11.235.717.917.9

458.9

21.6

72.738.834.085.0

122.264.775.042.232.817.78.88.8

39.9

302.4

373.9

1. Because no data are available to distribute exports and imports of "other" merchandisebetween durable and nondurable goods, they are distributed equally.

2. Includes parts of line 2 and line 5.

NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. Fora description of the new definitions, see the technical notes in 'U.S. International Transactions,First Quarter 1988,' SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.

Table 5.1.—Gross Saving and Investment[Billions of dollars]

Gross saving ...

Gross private savingPersonal savingUndistributed corporate

profits with inventoryvaluation and capitalconsumption adjustmentsUndistributed profitsInventory valuation

adjustmentCapital consumption

adjustmentCorporate capital

consumption allowanceswith capital consumptionadjustment

Noncorporate capitalconsumption allowanceswith capital consumptionadjustment

Wage accruals lessdisbursements

Government surplus or deficit(-), national income and

FederalState and local

Capital grants received by theUnited States (net)

Gross investment

Gross private domesticinvestment

Statistical discrepancy

1986

537.2

681.6121.7

104.141.6

8.3

54.2

282.4

173.5

0

-144.4-205.6

61.2

0

523.6

665.91424

-13.6

1987

560.4

665.3104.2

81.147.4

-18.0

51.7

297.5

182.5

0

10491578

52.9

0

552.3

712.91606

-8.1

Seasonally adjusted at annual rates

1987

I

539.2

679.8130.8

80.343.8

-14.4

50.8

291.2

177.5

0

14061883

47.7

0

530.6

685.51548

-8.5

II

542.4

625.069.5

78.547.0

200

51.5

295.4

181.6

0

-82.61440

61.4

0

539.9

698.51586

-2.5

III

556.8

642.272.6

85.052.4

-19.5

52.1

299.7

184.9

0

-85.51383

52.9

0

541.7

702.8161 1

-15.1

IV

603.4

714.1144.0

80.546.4

-18.2

52.4

303.7

185.8

0

-110.7-160.4

49.7

0

597.0

764.9-167.8

-6.4

1988

I

627.0

726.3149.9

78.148.1

-19.4

49.4

309.8

188.5

0

-99.2-155.1

55.8

0

612.0

763.4-151.3

-15.0

IF

645.3

720.0132.6

84.863.5

-27.1

48.4

312.9

189.7

0

-74.7-130.9

56.2

0

631.0

758.2-127.2

-14.3

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 16: SCB_081988

14 SURVEY OF CURRENT BUSINESS August 1988

Table 5.8.—Change in Business Inventories by Industry[Billions of dollars]

Table 5.9.—Change in Business Inventories by Industry in ConstantDollars

[Billions of 1982 dollars]

Change in businessinventories

Farm

NonfarmChange in book valueInventory valuation

adjustment 1

ManufacturingDurable goodsNondurable goods

Wholesale tradeDurable goodsNondurable goods

Merchant wholesalersDurable goodsNondurable goods.

Nonmerchant wholesalersDurable goodsNondurable goods

Retail tradeDurable goods

AutomotiveOther

Nondurable goods

OtherDurable goodsNondurable goods

1986

15.5

-1.9

17.44.8

12.7

-3.3-3.0-.3

7.03.93.1

6.73.73.0

.4

.2

.1

3.3.7

162.22.6

10.42.77.7

1987

39.2

1 5

40.764.5

238

6.14.61.5

7.45.32.1

7.24.82.3

.2

.5-.3

21.314.610.64.06.7

5.92.03.9

Seasonally adjusted at annual rates

1987

I

37.7

-3.2

40.959.6

-18.7

1.1.2.8

7.47.5-.1

5.76.4

7

1.71.1.6

28.220.820.2

.57.5

4.2.3

3.9

II

32.7

1.3

31.458.4

270

-2.6-1.0-1.6

3.73.7

1

6.55.01.5

-2.8-1.3-1.6

25.918.510.67.97.3

4.53.11.4

III

14.5

-3.3

17.843.2

-25.4

11.17.63.5

-3.4-5.3

1.9

37572.0

.4

.5-.1

2.9-2.7-3.5

.85.6

7.13.23.9

IV

72.0

-.8

72.896.9

-24.1

14.811.73.2

22.015.46.6

20.113.66.5

1.81.8.1

28.221.915.16.86.2

7.81.46.4

1988

I

65.3

15.9

49.478.1

-28.7

15.49.65.8

24.621.23.4

22.619.33.3

2.01.9

.2

1.2-7.0

-11.64.68.2

8.22.95.3

IP

42.9

10.4

32.574.0

415

6.37.0-.7

-.2-8.1

7.9

.3-7.6

7.9

-.55

0

15.314.012.02.01.3

11.24.56.6

Change in businessinventories

Farm

Nonfarm

ManufacturingDurable goodsNondurable goods

Wholesale tradeDurable goodsNondurable goods

Merchant wholesalersDurable goodsNondurable goods

Nonmerchant wholesalersDurable goodsNondurable goods

Retail tradeDurable goods

AutomotiveOther

Nondurable goods

OtherDurable goodsNondurable goods

1986

15.4

-2.5

17.9

3 531-.4

7.13.73.3

6.73.53.2

.3

.2

.1

3.1.7

152.12.5

11.32.58.8

1987

34.4

-2.5

36.9

5.24.11.1

5.84.9

.9

5.84.41.4

0.5

-.5

19.213.19.33.76.1

6.71.94.9

Seasonally adjusted at annual rates

1987

I

29.8

-6.3

36.14

0-.5

6.27.0-.7

4.15.9

-1.9

2.21.01.1

25.318.417.9

.46.9

5.0.3

4.7

II

27.8

2.7

25.0

4013

-2.7

1.13.3

-2.3

4.74.6.1

-3.612

-2.4

23.416.69.37.36.8

4.62.91.8

III

13.0

-5.3

18.3

10.87.03.9

-3.5-4.8

1.3

-3.6-5.3

1.6

.2

.5-.3

2.9-2.2-3.0

.85.1

8.02.95.0

IV

67.1

-1.1

68.2

14.410.63.8

19.414.15.3

18.112.55.6

1.31.7-.4

25.119.513.26.35.6

9.31.38.0

1988

I

66.0

14.1

51.9

15.88.77.1

24.918.26.7

22.716.46.3

2.21.8.4

1.5-5.91014.27.4

9.72.57.2

ir

36.0

5.0

31.1

5.76.3

64

716.6

-.1-6.7

6.5

-.3-.4

.1

13.412.310.41.91.1

12.43.98.5

1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA thatadjusts business incomes. The IVA in this table reflects the mix of methods (first-in, first-out;last-in, first-out; etc.) underlying book value inventories derived primarily from Census Bureaustatistics. This mix differs from that underlying business income derived primarily fromInternal Revenue Service statistics.

Table 5.10.—Inventories and Final Sales of Business by Industry[Billions of dollars]

Table 5.11.—Inventories and Final Sales of Business by Industry inConstant Dollars[Billions of 1982 dollars]

Inventories *

Farm

NonfarmDurable goodsNondurable goods

ManufacturingDurable goodsNondurable goods . .

Wholesale tradeDursblfi goodsNondurable goods

Merchant wholesalersDurable goodsNondurable goods

Nonmerchant wholesalersDurable goods . ..Nondurable goods

Retail tradeDurable goods

Automotive ,Other

Nondurable goods ..

Other

Final sales 2

Final sales of goods and structures 2

Ratio of inventories to final sales

Inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of goods and

structures

Seasonally adjusted quarterly totals

1987

I

881.4

66.5

815.0477.5337.5

327.1218.5108.6

189.0123.565.5

164.0108.855.1

25.014.710.3

195.298.050.547.597.2

103.7

308.2177.1

2.862.64

4.60

II

902.3

69.9

832.4487.9344.5

330.8220.6110.2

192.7125.467.2

167.9110.956.9

24.814.510.3

203.5103.553.649.9

100.1

105.4

315.6181.3

2.862.64

4.59

III

914.1

68.2

845.9494.0351.9

337.8225.2112.6

194.0125.468.7

168.7110.558.2

25.314.910.4

205.5103.452.850.6

102.1

108.5

323.3186.6

2.832.62

4.53

IV

941.5

68.8

872.8513.3359.5

346.2231.9114.3

201.0130.670.5

175.2115.060.2

25.815.610.2

213.7109.456.752.7

104.3

111.7

325.1185.6

2.902.68

4.70

1988

I

965.2

72.6

892.6523.5369.1

353.4236.1117.3

209.3137.072.3

182.7120.861.9

26.716.210.5

215.2108.053.854.2

107.2

114.7

330.2187.8

2.922.70

4.75

IP

991.8 Inventories 1

794 Farm

912 3 Nonfarm532 5 Durable goods379 8 Nondurable goods

360 1 Manufacturing240.5 Durable goods119 6 Nondurable goods

212 8 Wholesale trade136 1 Durable goods76 7 Nondurable goods

185 9 Merchant wholesalers119 9 Durable goods66.0 Nondurable goods

26.9 Nonmerchant wholesalers16 2 Durable goods10 7 Nondurable goods

221.0 Retail trade112.0 Durable goods . ...56.9 Automotive55 1 Other

109 0 Nondurable goods

118.4 Other

338.9 Final sales 2

194.1 Final sales of goods and structures 2

Ratio of inventories to final sales

2 93 Inventories to final sales

Nonfarm inventories to final sales of goods and4.70 structures

Seasonally adjusted quarterly totals

1987

I

856.2

71.1

785.1443.8341.3

317.0206.1110.9

183.0114.368.7

156.4100.555.9

26.513.712.8

178.588.844.444.489.7

106.7

268.7164.1

3.192.92

4.79

II

863.2

71.8

791.4449.2342.2

316.0205.8110.2

183.2115.168.1

157.6101.756.0

25.613.412.2

184.392.946.746.291.4

107.8

272.8166.5

3.162.90

4.75

III

866.4

70.5

796.0449.9346.1

318.7207.5111.2

182.4113.968.5

156.7100.356.4

25.613.612.1

185.192.445.946.492.7

109.8

277.3170.5

3.122.87

4.67

IV

883.2

70.2

813.0461.3351.7

322.3210.2112.2

187.2117.469.8

161.2103.557.8

26.014.012.0

191.397.249.248.094.1

112.1

277.2169.5

3.192.93

4.80

1988

I

899.7

73.7

826.0467.1358.8

326.3212.4113.9

193.4122.071.4

166.9107.659.3

26.514.412.1

191.795.846.749.095.9

114.6

280.4171.4

3.212.95

4.82

IP

908.7

74.9

833.8471.0362.7

327.7213.9113.8

193.3120.273.1

166.9105.961.0

26.414.312.1

195.198.849.349.596.2

117.7

285.2175.5

3.192.92

4.75

1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventoriescalculated from current-dollar inventories in this table is not the current- dollar change inbusiness inventories (CBI) component of GNP. The former is the difference between twoinventory stocks, each valued at their respective end-of-quarter prices. The latter is the changein the physical volume of inventories valued at average prices of the quarter. In addition,changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.

2. Quarterly totals at monthly rates. Business final sales equals final sales less gross productof households and institutions, government, and rest of the world, and includes a small amountof final sales by farms.

1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from thistable are at quarterly rates, whereas the constant-dollar change in business inventoriescomponent of GNP is stated at annual rates.

2. Quarterly totals at monthly rates. Business final sales equals final sales less gross productof households and institutions, government, and rest of the world, and includes a small amountof final sales by farms.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 17: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 15

Table 5.12.—Fixed Investment by Type[Billions of dollars]

Table 5.13.—Fixed Investment by Type in Constant Dollars[Billions of 1982 dollars]

Fixed investment

Nonresidential

StructuresNonresidential buildings,

excluding farmPublic utilitiesMining exploration,

shafts, and wellsOther

Producers' durableequipment ,Information processing

and related equipment....Industrial equipmentTransportation and

related equipmentOther

ResidentialSingle family structuresMultifamily structuresOther

1986

650.4

433.9

138.5

91.827.4

14.94.4

295.4

96.568.9

66.963.0

216.6102.032.582.1

1987

673.7

446.8

139.5

92.628.4

13.94.5

307.3

101.270.6

67.867.6

226.9114.525.587.0

Seasonally adjusted at annual rates

1987

I

647.8

422.8

132.7

88.727.0

12.74.3

290.1

97.168.1

61.363.6

225.0111.528.285.3

II

665.8

438.2

134.4

90.327.1

12.34.7

303.8

99.268.9

69.466.2

227.6114.125.588.0

III

688.3

462.1

143.0

95.028.9

14.64.6

319.1

105.771.4

72.169.9

226.2115.023.987.3

IV

692.9

464.1

147.7

96.630.8

15.84.6

316.3

102.874.2

68.570.9

228.8117.324.187.4

1988

I

698.1

471.5

140.1

93.327.7

15.14.0

331.3

107.077.2

74.273.0

226.6116.522.187.9

II r

715.3

488.2

145.4

98.529.1

14.33.5

342.8

111.379.5

78.074.0

227.1116.120.990.1

Fixed investment

Nonresidential

StructuresNonresidential buildings,

excluding farmPublic utilitiesMining exploration,

shafts, and wellsOther

Producers' durableequipmentInformation processing

and related equipment....Industrial equipmentTransportation and

related equipmentOther

ResidentialSingle family structuresMultifamily structuresOther

1986

628.1

433.1

129.3

79.625.2

20.73.9

303.8

124.962.1

59.857.0

195.091.429.174.5

1987

640.4

445.1

125.5

77.125.7

18.83.9

319.6

139.461.4

59.159.7

195.297.521.776.0

Seasonally adjusted at annual rates

1987

I

616.6

418.2

121.0

75.224.6

17.53.7

297.2

128.059.9

53.056.3

198.497.824.875.9

II

632.3

434.8

120.9

75.424.6

16.84.1

313.8

134.660.1

60.858.3

197.698.222.077.4

III

654.9

462.8

128.0

78.326.0

19.74.0

334.7

148.062.1

62.961.8

192.196.520.175.5

IV

657.6

464.8

132.1

79.427.6

21.14.0

332.7

147.063.4

59.862.5

192.797.320.075.4

1988

I

662.9

473.4

124.0

76.124.6

19.83.4

349.4

155.965.2

64.963.4

189.596.218.275.2

IF

681.6

491.6

127.6

80.225.6

18.73.0

364.1

166.066.5

67.763.9

190.096.217.376.4

Table 6.3B.—National Income Without Capital ConsumptionAdjustment by Industry

[Billions of dollars]

Table 6.18B.—Corporate Profits by Industry[Billions of dollars]

National income withoutcapital consumptionadjustment

Domestic industries

Private industries

Agriculture, forestry, andfisheries

MiningConstruction

ManufacturingDurable goodsNondurable goods

Transportation and publicutilitiesTransportationCommunicationElectric, gas, and sanitary

services .

Wholesale tradeRetail tradeFinance, insurance, and

real estate

Government and governmententerprises

Rest of the world

1986

3,398.2

3,363.3

2,867.6

81.530.4

185.1

686.4405.7280.7

266.6112.873.6

80.2

203.4298.8

475.5639.8

495.7

34.9

1987

3,644.4

3,614.9

3,085.7

88.231.0

196.7

727.4419.4308.0

276.8120.776.3

79.9

213.6316.2

524.0711.6

529.2

29.5

Seasonally adjusted at annual rates

1987

I

3,536.7

3,504.8

2,987.0

91.926.1

193.0

704.4417.8286.6

267.8118.373.1

76.5

210.8308.5

503.2681.4

517.8

31.9

II

3,597.5

3,569.3

3,043.4

88.030.1

196.8

716.6414.4302.3

274.9119.375.3

80.2

207.7312.1

517.0700.2

525.9

28.2

III

3,675.0

3,648.2

3,115.5

80.532.7

197.0

740.9424.7316.3

278.8120.678.2

79.9

216.2319.8

529.8719.8

532.7

26.8

IV

3,768.3

3,737.3

3,196.8

92.635.2

200.1

747.6420.6327.0

285.8124.478.4

83.1

219.8324.6

545.9745.1

540.5

31.0

1988

I

3,821.4

3,799.1

3,246.7

90.935.3

203.4

766.4432.7333.7

286.4124.877.3

84.2

225.0331.4

553.6754.4

552.3

22.4

IF

3,905.6

3,880.6

3,321.0

:::::::::::::

559.7

24.9

Corporate profits with inventoryvaluation and capitalconsumption adjustments

Domestic industries

FinancialNonfinancial

Rest of the world

Corporate profits with inventoryvaluation adjustment

Domestic industries

FinancialFederal Reserve banksOther

Nonfinancial

Manufacturing

Durable goodsPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic

equipment ,Motor vehicles and equipmentOther

Nondurable goods ,Food and kindred productsChemicals and allied productsPetroleum and coal productsOther

Transportation and public utilitiesWholesale and retail tradeOther

Rest of the world

1986

298.9

266.9

36.4230.6

31.9

244.7

212.8

31.816.015.8

180.9

79.4

32.4-.55.43.3

3.27.6

13.3

47.011.29.57.0

19.3

39.246.116.3

31.9

1987

310.4

274.0

36.5237.5

36.4

258.7

222.3

30.116.014.1

192.1

96.8

36.51.45.73.2

3.27.3

15.7

60.312.813.512.221.9

34.942.817.6

36.4

Seasonally adjusted at annual rates

1987

I

298.3

263.8

36.1227.7

34.5

247.5

213.0

30.715.715.0

182.3

84.8

39.01.14.63.9

2.69.5

17.3

45.710.011.93.3

20.5

33.846.517.2

34.5

II

305.2

270.8

37.4233.3

34.4

253.6

219.2

31.416.015.4

187.8

93.8

36.6.2

4.12.7

5.39.6

14.7

57.212.212.312.020.7

35.837.820.4

34.4

III

322.0

286.7

36.3250.4

35.3

269.9

234.6

29.516.213.4

205.1

107.0

40.91.97.24.6

5.55.6

16.2

66.114.014.414.722.9

34.044.120.0

35.3

IV

316.1

274.6

36.2238.4

41.4

263.7

222.2

28.816.212.6

193.4

101.7

29.42.66.71.7

-.84.5

14.6

72.414.915.318.823.4

36.143.012.6

41.4

1988

I

316.2

286.0

35.4250.6

30.2

266.8

236.6

27.617.510.1

209.0

110.6

33.93.28.03.3

1.24.2

14.0

76.815.919.117.424.5

34.543.920.0

30.2

IF

332.0

293.8

37.5256.3

38.2

283.6

245.5

29.017.511.5

216.5

38.2

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 18: SCB_081988

16 SURVEY OF CURRENT BUSINESS August 1988

Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product,1982 Weights

[Index numbers, 1982=100]

Gross national product

Personal consumption expenditures

Durable goodsNondurable goodsServices

Gross private domestic investment

Fixed investmentNonresidential

StructuresProducers' durable equipment

ResidentialChange in business inventories

Net exports of goods and services

ExportsImports

Government purchases of goods andservices

FederalNational defense ....Nondefense

State and local

Addenda:

Final salesPersonal consumption expenditures,

food .Personal consumption expenditures,

energyOther personal consumption

expenditures

1986

1150

115.3

1065107.8123 0

1058104.3101.8106.0110.9

103.993.6

115.6

110.8111310941191

1149

1122

910

1191

1987

119 1

120.4

1097112.61290

108.8106.8105.1107.9115.9

106.0100.8

119.6

1135114011211241

1190

1172

917

1249

I

117 4

118.2

108 5110.3126 6

107.6106.1103.4107.8113.2

104.797.8

118.0

1125113211061220

1172

1153

891

1226

Sea

19

II

118 6

119.9

1092112.4128 1

108.4106.5104.5107.8114.9

105.5100.3

119.1

113 3113911171233

1184

1170

914

1242

isonallj

87

III

119 7

121.1

1102113.4129 6

1093107.0105.8107.7117.4

106.4101.9

120.1

1137114211251249

1195

1178

934

1255

r adjust

IV

120 8

122.5

111 01143131 5

109.9107.5106.4108.1118.3

107.0103.0

121.2

1144114811361261

1206

1186

929

1272

,ed

19

I

121 8

123.2

111 411461326

1108108.3107.5108.9119.2

108.71039

122.9

1163116611571278

1217

1192

91 1

1283

38

IF

123 2

124.8

111 91167134 1

111310891078109.7119.3

110.21052

124.3

1172117411691295

1231

1210

923

1298

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product byMajor Type of Product, 1982 Weights

[Index numbers, 1982=100]

Gross national product

Final salesChange in business inventories

Goods

Final salesChange in business inventories

Durable goodsFinal sales .... . .

Nondurable goodsFinal salesChange in business inventories

Services

Structures

1986

115.0

114.9

108.4

108.2

106.1106.0

110.0109.8

122.1

107.0

1987

119.1

119.0

111.0

110.8

107.1107.0

113.7113.5

127.6

110.7

Seasonally adjusted

1987

I

117.4

117.2

109.7

109.5

107.0106.9

111.6111.4

125.5

108.7

II

118.6

118.4

110.8

110.6

106.9106.8

113.4113.2

126.9

110.0

III

119.7

119.5

111.4

111.2

107.2107.2

114.3114.1

128.2

111.7

IV

120.8

120.6

112.1

111.9

107.0107.1

115.5115.3

129.8

112.4

1988

I

121.8

121.7

112.6

112.5

107.2107.3

116.3116.1

131.2

113.5

IF

123.2

123.1

114.2

114.1

107.6107.7

118.7118.5

132.7

113.9

Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross Nation-al Product, Gross Domestic Purchases, and Final Sales to DomesticPurchasers, 1982 Weights

[Index numbers, 1982=100]

Gross national product

Less: Exports of goods and servicesPlus: Imports of goods and services

Equals: Gross domestic purchases 1

Less: Change in business inventories

Equals: Final sales to domesticpurchasers 2

1986

115.0

103.993.6

114.0

113.9

1987

119.1

106.0100.8

118.7

118.5

Seasonally adjusted

1987

I

117.4

104.797.8

116.7

116.6

II

118.6

105.5100.3

118.1

118.0

III

119.7

106.4101.9

119.3

119.2

IV

120.8

107.0103.0

120.5

120.3

1988

I

121.8

108.7103.9

121.4

121.3

IF

123.2

110.2105.2

122.8

122.7

1. Purchases in the United States of goods and services wherever produced.2. Final sales in the United States of goods and services wherever produced.

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 19: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 17

Table 7.4.—Implicit Price Deflators for Gross National Product[Index numbers, 1982=100]

Gross national product

Personal consumption expenditures

Durable goods.....Nondurable goodsServices

Gross private domestic investment

Fixed investmentNonresidential

StructuresProducers' durable equipment

ResidentialChange in business inventories

Net exports of goods and services

ExportsImports

Government purchases of goods andservices .

FederalNational defenseNondefense

State and local

1986

113.9

114.3

105.6107.3122.4

103.5100.2107.197.2

111.1

100.093.6

114.6

109.8110.4108.2118.2

1987

117.7

119.5

107.9112.1128.5

105.2100.4111.196.2

116.2

100.099.0

118.5

112.7111.5117.0123.0

Seasonally adjusted

1987

I

116.3

117.3

106.7109.8126.1

105.1101.1109.697.6

11.3.4

100.197.5

116.9

111.6111.8110.9121.0

II

117.3

118.9

107.5111.9127.6

105.3100.8111.296.8

115.2

100.199.4

118.6

113.7111.3122.9122.3

III

118.2

120.2

108.6112.9129.1

105.199.9

111.795.3

117.7

99.998.9

119.1

112.9111.3119.0123.9

IV

118.9

121.5

108.9113.7131.0

105.499.8

111.895.1

118.7

100.1100.0

119.5

112.6111.6116.0124.9

1988

I

119.4

122.2

109.1113.8132.2

105.399.6

113.094.8

119.5

100.3100.8

121.7

115.2112.8125.5126.5

II r

120.9

123.7

109.5116.0133.7

104.999.3

114.094.1

119.6

101.7101.2

122.7

115.3113.3123.0128.1

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 7.5.—Implicit Price Deflators for Gross National Product byMajor Type of Product

[Index numbers, 1982=100]

Gross national product

Final salesChange in business inventories

Goods

Final salesChange in business inventories

Durable goodsFinal salesChange in business inventories

Nondurable goodsFinal salesChange in business inventories

Services

Structures .'.

113.9

1140

1062

1062

101.5101.5

110.0110.1

121.9

110.2

117.7

1177

1078

1076

100.299.9

114.3114.3

127.5

114.6

116.3

1162

107 3

1069

101.3100.9

112.2111.7

125.3

112.5

117.3

1173

1078

1077

100.4100.1

114.3114.1

126.7

114.0

118.2

118.2

108.1

1080

99.899.8

115.5115.5

128.1

115.6

118.9

1191

107.9

1079

99.598.8

115.5115.9

129.7

116.2

119.4

119.8

107.5

1078

98.498.0

115.8117.0

131.2

117.4

120.9

1209

109.2

1089

98.398.1

119.5119.4

132.6

118.0

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1. * *> * v*

Table 7.6.—-Implicit Price Deflators for Gross National Product bySector

[Index numbers, 1982=100]

Gross national product

Gross domestic product

BusinessNonfarm .

Nonfarm less housingHousing

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

GovernmentFederalState and local

Rest of the world

Addendum:

Gross domestic business product lessg

113.9

113.9

11271133112.1126.0901

1127

122.0103.61233

1220117.1124.5

115.5

111 6

117.7

117.7

11601167115.2131.9920

1160

131.0104.81329

127.8122.3130.5

119.5

1147

116.3

116.3

114 811551141129.6881

1148

127.1104.51288

125.9121.3128.3

118.1

117.3117.3

11571162114.8130.9966

1157

129.8104.71316

127.2122.3129.6

119.1

118.2

118.2

116 51171115.7132.5936

1165

132.1104.91340

1283122.3131.3

120.1

118.9

118.9

117111771162134.7898

117 1

134.9105.0137 1

129.7123.2133.0

120.8

119.4119.4

11741180116.3136.1944

1174

135.7105.01379

132.3126.5135.1

121.4

120.9120.9

11881191117.4137.110741188

138.1105.81404

133.7127.2136.9

123.0

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 7.7.—Implicit Price Deflators for the Relation of Gross NationalProduct, Net National Product, and National Income

[Index numbers, 1982=100]

Gross national product

Less: Capital consumption allowanceswith capital consumption adjustment

Equals: Net national product

Less: Indirect business tax and nontaxliability plus business transferpayments less subsidies plus currentsurplus of government enterprises..

Statistical discrepancy

Equals: National income.

1986

113.9

102.9

115.4

115.7

112.7

115.4

1987

117.7

104.2

119.5

117.8

116.0

119.7

Seasonally adjusted

1987

I

116.3

103.3

118.1

114.0

114.8

118.5

II

117.3

104.1

119.1

118.2

115.7

119.2

III

118.2

104.7

120.0

121.3

116.5

119.9

IV

118.9

104.6

120.8

117.6

117.1

121.1

1988

I

119.4

105.4

121.3

120.3

117.4

121.4

llr

120.9

105.3

123.0

122.5

118.8

123.0

Table 7.8.—Implicit Price Deflators for Command-Basis Gross NationalProduct

[Index numbers, 1982=100]

Gross national product

Less: Net exports of goods and servicesExportsImports

Equals: Gross domestic purchases

Plus: Command-basis net exports ofgoods and services

Comrnflnd-bflsis exportsImports

Equals: Command-basis gross nationalproduct

113.9

1000936

112.6

936936

113 1

1-17.7

1000990

116.9

990990

117 5

116.3

100197.5

115.4

975975

116.0

117.3

100199.4

116.6

994994

1172

118.2

99.998.9

117.4

989989

118.1

118.9

1001100 0

118.3

10001000

118.8

1-19.4

100.3100.8

119.0

100.8100.8

119.5

120.9

101.7101.2

120.4

101.2101.2

120.8

NOTE.—Percent changes from preceding period for selected items in this table are shown intable 8.1.

Table 7.9.—Fixed-Weighted Price Indexes for Personal ConsumptionExpenditures by Major Type of Product, 1982 Weights

[Index numbers, 1982=100]

Personal consumptionexpenditures

Durable goods

Motor vehicles and partsFurniture and household equipment.Other

Nondurable goods

FoodClothing and shoesGasoline and oilOther nondurable goods

Fuel oil and coalOther

Services

HousingHousehold operation

Electricity and gasOther

Transportation ,Medical careOther

1153

106 5

110.9100.9108.0

107.8

11221060754

116.276.2

1217

123.0

124411821139122711321284122 1

1204

1097

115.3102.1112.7

112.6

1172111078.4

121.476.6

1276

129.0

13001183111 81250120.313561302

118 2

108 5

113.5101.9110.6

110.3

115.3108.674.0

119.1736

1253

126.6

12781176111 41240118113271272

1199

109 2

114.7101.6112.0

112.4

117 01118111

120 8764

1268

1281

12911183112 112471193134 71292

121 1

110 2

115.9102.5113.2

113.4

11781107811

122 4785

1284

129.6

1306118811221255118.713681313

122 5

111 0

117.0102.4115.0

114.3

11861130806

123 5111

1298

131.5

13271186111 71257125113801331

123 2

111 4

117.0102.9116.2

114.6

1192113 1772

124977 1

1315

132.6

13421185111 6125 7122.514041346

124 8

111 9

116.8103.5117.8

116.7

121.0117279.0

126.678.9

1332

134.1

13521196112 21272123.014331358

Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports ofGoods and Services, 1982 Weights

[Index numbers, 1982=100]

Exports of goods and services

MerchandiseDurable goodsNondurable goods ....

ServicesFactor incomeOther

Imports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor incomeOther

103.9

966100.092.3

1142115.9111.193 g

8751025723

111.61154108.6

106.0

978101.792.7

1177120.3113,1

100.8

9471097795

118.41196117.5

104.7

966101. 090.5

1166118.7112.9

978

9131071752

116.51181115.3

105.5

975101.591.9

117 4119.8113.0

1003

9431093790

117.91191116.9

106.4

984102.093.4

1180120.8113.1

101.9

9601101817

119.11201118.3

107.0

992102.294.9

1186121.6113.1

103.0

97 11124815

120.21208119.7

108.7

1013103.598.3

1194122.2114.4

103.9

9791154801

121.41214121.4

110.2

1031104.4101.3

1207123.8115.1

105.2

994117481 1

122.31230121.7

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 20: SCB_081988

18 SURVEY OF CURRENT BUSINESS August 1988

Table 7.15.—-Fixed-Weighted Price Indexes for Merchandise Exports andImports by Type of Product and by End-Use Category, 1982 Weights

[Index numbers, 1982=100]

Table 7.16.—Fixed-Weighted Price Indexes for Government Purchasesof Goods and Services by Type, 1982 Weights

[Index numbers, 1982=100]

Merchandise exports

Foods, feeds, and beveragesIndustrial supplies and materials ....

Durable goodsNondurable goods

Capital goods, except autosAutos.. ..Consumer goods

Durable goodsNondurable goods

OtherDurable goodsNondurable goods

Merchandise imports

Foods, feeds, and beveragesIndustrial supplies and materials,

excluding petroleumDurable goodsNondurable goods

Petroleum and productsCapital goods, except autosAutosConsumer goods

Durable goodsNondurable goods

OtherDurable goodsNondurable goods

1986

96.6

87.991.691.691.699.3

111.6103.699.4

106.999.499.499.4

87.5

104.9

84.484.584.345.7

100.4118.4106.3104.3109.1103.1103.1103.1

1987

97.8

82.195.495.595.4

100.5113.1107.4102.2111.5100.9100.9100.9

94.7

103.6

90.190.390.055.1

109.2125.1114.8111.8119.1110.1110.1110.1

Seasonally adjusted

1987

I

96.6

81.791.891.891.8

100.7111.9106.0101.6109.599.399.399.3

91.3

102.9

85.385.485.150.1

107.5123.1111.6109.4114.6106.9106.9106.9

II

97.5

81.494.494.494.4

100.6113.0106.7101.1111.1100.3100.3100.3

94.3

101.0

88.388.588.155.9

109.6125.0114.2111.2118.5109.4109.4109.4

III

98.4

82.096.896.896.8

100.6113.3107.6102.1111.9101.2101.2101.2

96.0

104.3

92.792.992.558.0

108.6125.2115.5112.1120.2110.9111.0110.9

IV

99.2

83.398.598.598.5

100.1114.1109.2104.0113.2102.7102.7102.7

97.1

106.2

94.394.594.155.5

111.8126.9118.1114.6123.0113.2113.1113.2

1988

I

101.3

88.2101.2101.2101.2101.2113.8111.0105.4115.5104.7104.7104.7

97.9

109.1

99.9100.199.848.4

113.8129.0121.2117.6126.4116.4116.4116.4

IP

103.1

94.1102.9102.9102.9101.9113.9111.6107.0115.3106.5106.5106.5

99.4

110.3

103.6103.7103.548.1

115.0130.4123.5120.2128.2118.7118.7118.7

Table 7.17.—Fixed-Weighted Price Indexes for National DefensePurchases of Goods and Services, 1982 Weights

[Index numbers, 1982=100]

National defense purchases

Durable goods

Military equipmentAircraftMissilesShipsVehicles.....Electronic equipment

Other durable goods

Nondurable goods

Petroleum productsAmmunitionOther nondurable goods

Services

Compensation of employees ..MilitaryCivilian

Other servicesContractual research and

developmentInstallation support 1Weapons support 2. ..Personnel support 3

Transportation of materielTravel of personsOther

Structures

Military facilitiesOther

1986

111.3

110.2

112.4116.1119.2118.483.9

107.0106.0100.3

69.0

54.094.4

106.8

116.2

117.1117.1117.1114.3

113.4119.9113.8129.790.4

102.4

117.2

120.2112.7

1987

114.0

109.0

110.9110.4119.1119.789.8

106.7107.9100.5

68.7

52.497.2

109.6

120.6

122.0121.6122.9117.8

115.6123.7114.6145.793.0

103.9

121.7

123.3119.5

Seasonally adjusted

1987

I

113.2

110.0

112.2112.1122.9119.791.3

107.1107.3100.1

64.5

45.6100.5108.3

119.5

121.1120.8121.7116.3

114.2121.9113.7140.593.3

104.7

119.6

122.1115.8

II

113.9

109.5

111.5111.4120.9119.690.4

106.3107.5100.7

69.052.797.8

109.2

120.2

121.9121.4123.0116.9

114.7122.8113.7144.491.4

103.4

120.9

122.7118.2

III

114.2

108.8

110.6109.4119.9119.689.1

106.7108.3100.7

70.1

54.297.1

110.1

120.7

122.0121.5123.1118.2

116.0125.0114.4144.992.5

103.7

122.5

123.5121.0

rv

114.8

107.6

109.2108.5112.6119.888.4

106.6108.6100.5

71.356.993.3

110.6

121.9

123.0122.5123.9119.8

117.3125.2116.4152.894.6

103.8

123.9

124.7122.8

1988

I

116.6

108.6

110.3110.3112.7120.488.1

106.9110.7100.9

70.154.495.0

112.0

124.3

126.2125.6127.4120.7

118.2125.9116.6155.595.6

103.8

125.5

126.4124.2

IIr

117.4

109.3

110.9111.5112.6120.489.3

106.9110.8101.8

72.4

57.495.0

113.3

125.1

127.0126.5127.9121.4

119.1127.1116.7156.495.0

104.6

126.2

127.6124.1

Government purchases of goodsand services..

Federal ..

National defenseDurable goodsNondurable goodsServices

Compensation of employeesMilitaryCivilian

Other servicesStructures

NondefenseDurable goods .Nondurable goods

Commodity Credit Corporationinventory change

Other nondurablesServices.. .

Compensation of employeesOther services

Structures

State and local

Durable goodsNondurable goodsServices

Compensation of employeesOther services

Structures

1986

115.6

110.8

111.3110.269.0

116.2117.1117.1117.1114.3117.2

109.499.6

94.7115.7117.3113.2109.4

119.1

108.490.4

124.1124.5121.9112.9

1987

119.6

113.5

114.0109.068.7

120.6122.0121.6122.9117.8121.7

112.199.6

96.9120.2123.0115.8111.3

124.1

110.695.0

129.9130.6126.6114.5

Seasonally adjusted

1987

I

118.0

112.5

113.2110.064.5

119.5121.1120.8121.7116.3119.6

110.699.6

96.6119.0121.9114.6110.3

122.0

109.992.6

127.6128.3124.6113.3

II

119.1

113.3

113.9109.569.0

120.2121.9121.4123.0116.9120.9

111.799.8

97.0120.0123.1115.2110.9

123.3

110.494.6

129.0129.7125.8113.9

III

120.1

113.7

114.2108.870.1

120.7122.0121.5123.1118.2122.5

112.599.3

97.6120.5123.2116.3111.9

124.9

110.896.5

130.6131.3127.6115.1

IV

121.2

114.4

114.8107.671.3

121.9123.0122.5123.9119.8123.9

113.699.5

96.2121.2123.9116.9112.2

126.1

111.196.2

132.2133.0128.3115.9

1988

I

122.9

116.3

116.6108.670.1

124.3126.2125.6127.4120.7125.5

115.7100.2

97.8123.5127.4117.4113.5

127.8

111.995.5

134.2135.2129.6117.4

IF

124.3

117.2

117.4109.372.4

125.1127.0126.5127.9121.4126.2

116.9101.3

98.9124.2127.9118.5114.9

129.5

112.897.6

135.9136.9131.2119.0

Table 7.18.—Current-Dollar Cost and Profit Per Unit of Constant-DollarGross Domestic Product of Nonfinancial Corporate Business

[Dollars]

Current-dollar cost and profit perunit of constant-dollar grossdomestic product 1

Capital consumption allowances withcapital consumption adjustment

Net domestic product

Indirect business tax and nontaxliability plus business transferpayments less subsidies

Domestic income . ..Compensation of employeesCorporate profits with inventory

valuation and capital consumptionadjustmentsProfits tax liabilityProfits after tax with inventory

valuation and capitalconsumption adjustments

Net interest

1986

1.089

.121

.968

.105

.863

.719

.106

.035

.071

.039

1987

1.107

.122

.985

.106

.880

.732

.105

.044

.061

.043

Seasonally adjusted

1987

I

1.101

.122

.979

.105

.874

.730

.103

.041

.061

.041

II

1.104

.122

.982

.106

.876

.730

.104

.043

.061

.043

III

1.109

.121

.988

.106

.882

.729

.109

.046

.063

.044

IV

1.113

.121

.992

.105

.887

.738

.103

.044

.059

.046

1988

I

1.114

.121

.993

.105

.887

.736

.106

.044

.062

.045

IF

1.123

.121

1.002

.106

.896

.743

.107

.046

.061

.046

1. Equals the deflator for gross domestic product of nonfinancial corporate business with thedecimal point shifted two places to the left.

1. Includes utilities, communications, rental payments, maintenance and repair, and paymentsto contractors to operate installations.

2. Includes depot maintenance and contractual services for weapons systems.3. Includes compensation of foreign personnel, consulting, training, and education.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 21: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 19

Table 8.1.—Percent Change From Preceding Period in Selected Series[Percent]

Gross national product:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Personal consumption expenditures:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index...

Durable goods:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed- weighted price index

Nondurable goods:Current dollars1982 dollarsImplicit price deflator ....Chain price indexFixed-weighted price index

Services:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed- weighted price index

Gross private domestic investment:Current dollars1982 dollarsImplicit price deflator

Fixed weighted orice index

Fixed investment:Current dollars1982 dollarsp, P. ?r . ,Fixed-weighted price index

Nonresidential:

1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Structures:Current dollars

Implicit price deflatorChain price indexFixed- weighted price index

Producers' durableequipment:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed- weighted price index

Residential:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Exports of goods and services:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed- weighted price index

Imports of goods and services:Current dollars1982 dollarsImplicit price deflator....Chain price indexFixed-weighted price index . .

1986

5.62.82.72.52.8

6.84.32.42.72.7

9.28.4.8

1.11.3

3.63.8

2

-.1

8.33.34.84.95.0

3.51.0

2.902.92.32.4

-2.0-4.5

2.62.22.4

-9.6-13.5

4.51.41.1

2.01

2.02.63.2

14.711.82.62.52.4

2.03.110

1.2

7.69.417

.222

1987

6.83.43.33.43.6

7.32.74.54.54.5

3.81.52.22.73.0

5.81.34.54.54.5

9.34.15.05.04.8

7.14.9

3.62.01.62.82.9

3.02.8

.21.82.3

.7-2.9

3.73.43.2

4.05.21 01.11.8

4.8.1

4.64.74.5

13.113.101.72.0

14.17.95.87.07.6

Seasonally adjusted at annual rates

1987

I

8.44.63.54.04.2

6.5.6

5.65.55.6

-16.31781.93.74.1

10.22.17.67.47.5

11.36.34.94.84.7

18.920.9

636 5

.42.73.2

-10.0-8.3-2.0

2.23.0

-5.5-8.7

3.44.04.0

11980441.52.4

1.1263.63.73.7

10.97.53.32.83.3

12.619

14.812.113.7

II

8.75.03.53.74.2

10.04.35.65.75.7

17.914.53.02.22.6

7.507.98.18.0

9.64.54.85.04.9

7.88.8

11.610.6

.82.32.8

15.416.8

-1.2.2

1.8

5.2-.36.04.74.6

20.324.3321 8.1

4.7-1.6

6.56.66.2

23.623.6

02.53.2

20.511.58.09.3

11.0

III

7.74.53.13.63.7

9.14.64.44.34.2

21.416.54.23.63.9

4.6.9

3.63.43.5

8.93.74.85.04.8

2.54.8

14.215.1-.83.33.4

23.728.4

-3.5.3

1.7

28.225.61.84.95.0

21.729.4

-6.1-1.6

-2.41079.09.49.1

24.625.7-.82.43.1

21.323.4

-2.05.16.4

IV

8.66.12.43.43.8

2.4-2.1

4.44.44.6

-16.51731.12.62.8

2.36

2.93.43.4

8.12.26.05.55.7

40.338.6

2.71.71.11.42.0

1.71.7

-.4.5

1.7

13.813.4

.41.72.2

-3.5-2.4-.801.4

4.71.33.43.22.9

18.717.7

.82.12.6

14.89.94.54.04.3

1988

I

5.43.41.73.03.5

6.94.52.32.52.4

15.814.7

.71.61.6

1.51.0

.4

.7

.8

8.14.03.73.83.7

-.82.3

3.03.3-.42.53.3

6.57.6-.82.33.4

-19.0-22.4

4.44.04.1

20.421.6

-1.31.52.9

-3.86 52.72.83.0

26.825.7

.85.56.2

10.36.93.24.43.5

ir

8.33.35.14.44.7

8.02.75.05.25.2

9.88.41.51.71.6

7.908.07.97.6

7.63.04.64.54.4

2760

10.211.81 51.11.8

14.916.3

-1.21.52.2

16.012.13.61.11.1

14.617.9

-2.91.73.0

.91.1.3.2.5

17.611.65.75.16.0

-2.2361.65.25.4

Government purchases of goods andservices:

1982 dollars

ffi ' HFixed-weighted price index

Federal:

1982 dollars

Chain nrice indexFixed-weighted price index

National defense:

1982 dollars

Chain nrice indexFixed-weighted price index

Nondefense:

1982 dollars

Chain price indexFixed-weighted price index

State and local:

1982 dollars

Chain price indexFixed-weighted price index

Addenda:

Gross domestic purchases:1982 dollarsChain price indexFixed-weighted price index

Final sales:1982 dollarsChain price index ,Fixed-weighted price index

Final sales to domestic purchasers:1982 dollarsChain price indexFixed-weighted price index

Command-basis gross national product:1982 dollarsImplicit price deflator ,

Gross domestic product:1982 dollarsImplicit price deflator

Business:1982 dollarsImplicit price deflator

Nonfarm:1982 dollars

Disposable personal income:Current dollars1982 dollars

1986

6.14.02.02.02.1

3.12.3

.7

.5

.4

7.16.01.11.0.8

-7.6-7.7

-.9-.6

8.55.42.93.13.3

3.72.52.6

2.72.52.7

3.52.52.5

2.92.5

3.02.6

3.22.5

3.42.6

6.43.9

1987

6.12.63.43.13.5

4.31.72.61.62.4

6.45.41.01.32.4

-2.3-9.6

8.12.42.5

7.53.34.14.14.2

3.03.94.1

2.93.43.6

2.53.94.1

2.83.9

3.53.3

3.82.9

3.73.0

6.31.7

Seasonally adjusted at annual rates

1987

I

8.0-.88.75.04.9

6.7-7.415.36.06.0

13.96.37.16.05.5

-14.1-39.8

42.55.87.2

9.14.64.44.34.2

3.45.05.1

.24.04.2

85.05.1

3.45.0

4.53.5

5.03.2

4.03.2

10.74.6

II

5.4-.45.92.53.8

5.3237.7

13.0

10.912.718112.5

12541650.83.24.1

5.51.14.44.34.3

4.14.54.9

5.33.84.2

4.34.54.9

4.24.2

5.43.5

5.83.2

5.62.4

1.3-3.9

III

7.45.71.73.23.6

9.712.62.8

.41.4

7.07.30.5.9

19.735.4

-12.1.1

2.8

5.9.6

5.35.25.2

4.83.94.0

6.13.63.7

6.53.94.0

4.63.1

4.73.1

5.02.8

6.53.1

9.34.8

IV

6.65.01.42.93.5

5.46.71.11.62.6

.8191.12.12.1

29.743.8

-9.704.0

7.53.83.33.74.0

5.43.64.0

.43.53.8

-.13.64.0

5.72.4

5.82.4

6.42.1

5.62.1

11.86.9

1988

I

9-7.9

7.64.85.9

-13.3-21.0

9.64.36.7

-1.1-5.3

4.43.46.4

-45.3-60.1

37.07.17.6

8.63.55.25.25.4

1.62.93.2

3.63.03.5

1.72.93.3

3.12.4

4.21.7

4.41.0

5.41.0

7.45.0

II r

6.93.63.33.94.5

4.24.0.3

1.73.3

-.3-2.1

1.82.32.9

22.332.4

-7.7-.64.2

8.73.25.25.45.4

1.34.44.6

6.54.34.7

4.44.34.6

3.84.4

3.15.1

3.34.9

4.93.8

5.5.3

NOTE.—The fixed-weighted price index and the chain price index, both of which are weightedaverages of the detailed prices used in the deflation of GNP, are measures of price change. Incalculating changes in these indexes, the composition of GNP is held constant. Consequentlythese changes reflect only changes in prices. The fixed-weighted price index measures pricechange over any period, using as weights the composition of GNP in 1982. The chain price indexmeasures price change between two consecutive periods, using as weights the composition of

GNP in the first period. The implicit price deflator is a byproduct of the deflation of GNP. It isderived as the ratio of current- to constanlxlollar GNP (multiplied by 100). It it the average ofthe detailed prices used in the deflation of GNP, but the prices are weighted by the compositionof GNP in each period. Consequently, the implicit price deflator reflects not only changes inprices but also changes in the composition of GNP, and its use as a measure of price changeshould be avoided.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 22: SCB_081988

20 SURVEY OF CURRENT BUSINESS

Reconciliation and Other Special Tables

August 1988

Table 1.—Revisions in Selected Component Series of the NIPA's, Second Quarter of 1988

GNP

National income

Compensation of employees . .Corporate profits with inventory valuation and capital

Other

Personal income ....

GNP

Less' ExportsPlus' Imports

Equals' Gross domestic purchases

Personal consumption expendituresNonresidential fixed investmentResidential investmentChange in business inventoriesGovernment purchases

GNP price index (fixed weights)GNP price index (chained weights)GNP implicit price deflator ,Gross domestic purchases price index (fixed weights)

Seasonally adjusted at annual rates

Advance Prelimi-nary Difference

Billionsjof current dollars

4,806.9

2,872.6

722.6

4,017.2

4,819.7

3,933.9

2,874.0

332.0728.0

4,021.9

12.8

1.4

5.4

4.7

Billions of constant (1982) dollars

3,986.3

495.6585.7

4,076.4

2,574.2489.2190.845.0

777.2

3,988.1

499.7589.7

4,078.2

2,577.2491.6190.036.0

783.3

1.8

4.14.0

1.8

3.02.4

-.8-9.0

6.1

Index numbers, 1982= 100 1

123.2

120.6122.8

123.2

120.9122.8

0

.30

Percent change frompreceding quarter at

annual rates

Advance

7.2

8.2

2.4

6.8

3.1

8.0-6.2

1.1

2.314.02.8

.4

4.74.44.14.7

Prelimi-nary

8.3

8.9

8.4

21.55.5

7.3

3.3

11.6-3.6

1.3

2.716.31.1

3.6

4.74.45.14.6

1. Not at annual rates.NOTE.—For the second quarter of 1988, the following revised or additional major source data were incorporated: For personal

consumption expenditures, revised retail sales for May and June; for nonresidential fixed investment, revised manufacturers'shipments of equipment for May and June, construction put in place for May (revised) and June, and partial information onactual plant and equipment expenditures for the quarter; for residential investment, construction put in place for May (revised)and June; for change in business inventories, manufacturing and trade inventories for May (revised) and June; for net exports ofgoods and services, merchandise exports and merchandise imports for May (revised) and June; for government purchases of goodsand services, Federal outlays for June, and State and local construction put in place for May (revised) and June; for wages andsalaries, revised employment, average hourly earnings, and average weekly hours for May and June; for corporate profits,domestic book profits for the quarter; and for GNP prices, merchandise export and import price indexes for June (these indexesare prepared only for the last month of each quarter), unit-value indexes for petroleum imports for June and for merchandiseexports and nonpetroleum merchandise imports for May, and residential housing prices for the quarter.

Table 2.—Reconciliation of Changes in Compensation Per Hour in the Business Economy OtherThan Farm an^ Housing and Average Hourly Earnings in the Private Nonfarm Economy,Seasonally Adjusted

1. Compensation per hour of all persons in the business economy other than farm and housing(percent change at annual rate) l

2. Less: Contribution of supplements

3. Plus: Contribution of housing and nonprofit institutions

4. Less: Contribution of employees of government enterprises, unpaid family workers, and theself-employed

5. Equals: Wages and salaries per hour of employees in the private nonfarm economy (percentchange at annual rate) ..

6. Less: Contribution of nonproduction workers in manufacturing

7. Less: Contribution of non-BLS data, detailed weighting, and seasc

8. Equals: Average hourly earnings, production and nonsupervisornonfarm economy (percent change at annual rate)

nal adjustment

y workers in the private

1987

III

4.4

-.1

.4

.3

4.6

-.1

2.0

2.8

IV

6.7

-.7

.1

-.4

7.9

-1.1

4.6

4.3

1988

I

2.9

.8

-.1

0

1.9

-.1

-.2

2.2

II

4.2

-.9

.2

0

5.3

-.2

.3

5.2

1. BLS estimates of changes in hourly compensation in the nonfarm business sector for the four quarters are 4.5, 6.4, 3.5, and4.1 percent.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 23: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 21

Table 3.—Cyclically Adjusted Federal Receipts, Expenditures, Surplus or Deficit ( — ) , and Debt[Billions of dollars; quarters at seasonally adjusted annual rates]

Based on middle-expansion trend GNP:

Receipts:Level

Percentage of trend GNPChange from preceding period

Due to automatic inflation effectsDue to discretionary policy and other factors

Expenditures:Level . ...

Percentage of trend GNPChange from preceding period . . . .

Due to automatic inflation effectsDue to discretionary policy and other factors

Surplus or deficit ( — ):Level

Percentage of trend GNP.Change from preceding period

Due to automatic inflation effectsDue to discretionary policy and other factors

Debt:At par value, end of period:

LevelPercentage of trend GNP

At market value, end of period:Level

Percentage of trend GNP

Based on 6-percent unemployment rate trend GNP:

Receipts:Level

Percentage of trend GNPExpenditures:

LevelPercentage of trend GNP

Surplus or deficit ( — ):Level

Percentage of trend GNP

Addenda:

Middle-expansion trend GNP:Current dollars1982 dollars .. . . . .

6-percent unemployment rate trend GNP:Current dollars1982 dollars . . .

1981

647.121.192.062.729.3

702.022.986.437.349.1

-55.0-1.8

5.525.6

-20.1

857.427.9

803.426.2

668.821.2

695.022.0

-26.2-.8

3,071.13,269.3

3,157.33,361.0

Based on middle-expansion trend GNP:

Receipts:Level

Percentage of trend GNP .Change from preceding period

Due to automatic inflation effectsDue to discretionary policy and other factors

Expenditures:Level

Percentage of trend GNPChange from preceding period

Due to automatic inflation effectsDue to discretionary policy and other factors

Surplus or deficit ( — ):Level

Percentage of trend GNP. ... .. . ..Change from preceding period

Due to automatic inflation effectsDue to discretionary policy and other factors

Debt:At par value, end of period:

Level ;Percentage of trend GNP

At market value, end of period:Level

Percentage of trend GNP

Based on 6-percent unemployment rate trend GNP:

Receipts:Level

Percentage of trend GNPExpenditures:

LevelPercentage of trend GNP

Surplus or deficit (-):Level

Percentage of trend GNP . ..

Addenda:

Middle-expansion trend GNP:Current dollars1982 dollars

6-percent unemployment rate trend GNP:Current dollars1982 dollars

1982

686.920.539.844.0

-4.2

771.223.069.231.937.3

-84.4-2.5

-29.412.0

-41.4

955.928.5

976.929.1

708.020.6

764.922.2

-56.9-1.7

3,354.13,353.0

3,441.83,440.6

1983

709.519.922.623.4-.8

827.523.256.316.839.6

-118.1-3.3

-33.76.6

-40.4

1,082.430.3

1,055.329.5

729.019.9

822.722.5

-93.7-2.6

3,571.73,439.0

3,656.13,520.4

1984

738.219.428.724.44.3

894.423.566.918.848.1

-156.3-4.1

-38.25.7

-44.0

1,264.833.3

1,255.933.0

756.819.5

890.722.9

-133.9-3.4

3,800.83,527.2

3,881.33,601.9

1985

790.919.752.718.234.6

984.124.589.721.268.5

-193.2-4.8

-36.9-3.0

-33.9

1,481.336.9

1,550.938.6

808.619.8

981.424.0

-172.8-4.2

4,014.13,617.7

4,089.13,685.3

1984

I

729.6; 19.6

18.37.2

11.1

863.823.223.612.411.2

-134.3-3.6-5.5-5.2-.3

1,128.230.3

748.619.7

859.822.6

-111.1-2.9

3,720.93,493.8

3,803.13,571.0

II

732.419.42.83.9

-1.1

884.723.520.9

2.718.2

-152.3-4.0

-18.01.3

-19.3

1,170.331.0

751.219.5

881.022.9

-129.8-3.4

3,772.73,516.0

3,853.73,591.5

III

737.519.35.15.7

-.6

899.623.514.92.1

12.8

-162.1-4.2-9.8

3.6-13.4

1,219.931.9

756.019.3

896.122.9

-140.1-3.6

3,828.43,538.3

3,908.33,612.1

IV

753.119.415.65.1

10.5

929.523.929.9

2.227.7

-176.4-4.5

-14.32.9

-17.2

1,264.832.6

771.319.5

926.023.4

-154.7-3.9

3,881.33,560.8

3,959.93,632.9

1986

825.319.534.418.116.2

1,031.724.447.618.029.6

-206.4-4.9

-13.2.2

-13.5

1,692.740.1

1,824.743.2

842.319.6

1,029.824.0

-187.6-4.4

4,223.23,706.0

4,297.13,770.8

1987

900.120.274.825.749.1

1,077.024.145.319.525.8

- 176.9-4.029.56.3

23.2

1,851.041.5

1,904.742.7

917.920.2

1,075.523.7

-157.6-3.5

4,462.33,791.8

4,540.33,858.1

1981

I

625.821.233.918.015.9

675.222.821.3

4.416.9

-49.4-1.712.513.7

-1.2

810.727.4

646.921.3

667.522.0

-20.6-.7

2,957.03,238.8

3,040.83,330.6

II

640.721.214.99.35.6

684.522.69.34.05.3

-43.8-1.4

5.65.3

.3

823.027.2

662.021.3

677.721.8

-15.8-.5

3,024.03,258.6

3,108.23,349.3

1985

I

801.320.448.23.0

45.2

957.124.327.613.913.7

-155.8-4.020.6

-10.931.5

1,311.833.4

820.320.5

953.823.8

-133.6-3.3

3,931.03,583.4

4,008.13,653.7

II

763.219.1

-38.15.7

-43.8

968.024.310.92.28.7

-204.8-5.1

-49.03.5

-52.5

1,366.834.3

780.319.2

965.523.8

-185.1-4.6

3,988.53,606.2

4,064.23,674.7

III

794.619.731.43.6

27.8

995.024.627.0

2.724.3

-200.4-5.0

4.41.03.4

1,412.435.0

812.119.7

992.324.1

-180.2-4.4

4,039.23,629.1

4,113.43,695.8

IV

804.519.69.95.74.2

1,016.224.821.23.7

17.5

-211.7-5.2

-11.32.0

-13.3

1,481.336.1

821.519.7

1,013.824.3

-192.3-4.6

4,097.83,652.2

4,170.63,717.1

III

658.721.218.01.6.21.8

714.423.029.918.911.0

-55.7-1.8

-11.9-2.7-9.2

835.526.8

681.221.3

707.222,1

-26.0-.8

3,112.23,279.4

3,200.33,372.3

IV

663.120.84.4

14.2-9,8

734.023.019.69.5

10.1

-70.9-2.2

-15.24.6

-19.8

857.426.9

684.920.9

727.422.2

-42.5-1.3

3,191.33,300.2

3,279.73,391.6

1982

I

676.620.713.510.43.1

739.522.75.53.42.1

-62.9-1.9

8.07.01.0

874.526.8

698.520.9

733.021.9

-34.5-1.0

3,261.43,321.2

3,349.73,411.1

II

686.220.7

9.67.91.7

745.322.45.83.72.1

-59.1-1.8

3.84.1-.3

885.826.7

707.820.8

738.721.7

-30.9-.9

3,322.23,342.3

3,410.13,430.7

1986

I

795.019.3

-9.5-.8

-8.7

1,003.224.3

-13.09.1

-22.1

-208.2-5.0

3.5-10.0

13.5

1,532.537.1

811.719.3

1,001.123.8

-189.4-4.5

4,129.83,674.2

4,202.03,738.4

II

813.019.418.07.2

10.8

1,047.325.044.1

2.741.4

-234.3-5.6

-26.14.6

-30.7

1,592.438.0

829.719.5

1,045.324.5

-215.6-5.1

4,190.53,695.3

4,263.73,759.9

III

833.619.620.610.89.8

1,037.124.3

-10.22.5

-12.7

-203.6-4.830.7

8.422.3

1,652.938.8

850.719.6

1,035.523.9

-184.8-4.3

4,262.83,716.5

4,337.43,781.5

IV

859.419.925.82.5

23.3

1,039.024.1

1.93.7

-1.8

-179.6-4.224.0

-1.225.2

1,692.739.3

876.920.0

1,037.423.7

-160.6-3.7

4,309.83,737.9

4,385.13,803.2

III

687.820.3

1.610.6

-9.0

778.323.033.013.419.6

-90.5-2.7

-31.4-2.8

-28.6

922.527.2

708.520.4

772.022.2

-63.5-1.8

3,390.43,363.5

3,478.03,450.4

IV

696.820.2

9.05.23.8

821.723.943.45.8

37.6

-124.9-3.6

-34.4-0.6

-33.8

955.927.8

717.120.3

815.823.1

-98.7-2.8

3,442.43,384.9

3,529.23,470.2

1983

I

700.020.03.24.0-.8

811.123.2

-10.62.0

-12.6

-111.1-3.213.82.0

11.8

990.328.4

719.920.1

805.722.5

-85.8-2.4

3,491.63,406.4

3,577.53,490.2

II

719.520.319.54.5

15.0

827.323.416.21.8

14.4

-107.8-3.0

3.32.7

.6

1,037.529.3

739.620.4

822.522.7

-82.8-2.3

3,541.13,428.0

3,626.03,510.2

1987

I

867.919.98.56.61.9

1,060.124.221.19.0

12.1

-192.3-4.4

-12.7-2.4

-10.3

1,737.539.7

884.719.9

1,058.623.8

-173.9-3.9

4,372.13,759.3

4,448.53,825.0

II

908.320.540.4

7.832.6

1,066.824.1

6.74.22.5

-158.5-3.633.83.6

30.2

1,781.740.2

926.220.5

1,065.323.6

-139.1-3.1

4,435.03,780.9

4,512.53,847.0

III

911.420.33.16.3

-3.2

1,072.423.95.63.9

; 1.7

-161.0-3.6

: -2.52.4

-4.9

1,814.440.4

929.520.3

1,070.923.4

-141.5-3.1

4,494.73,802.6

4,573.33,869.1

IV

912.820.1

1.44.2

-2.8

1,108.724.436.3

2.933.4

-195.9-4.3

-34.91.3

-36.2

1,851.040.7

931.220.1

1,107.223.9

-176.0-3.8

4,547.33,824.5

4,626.83,891.3

III

707.019.7

-12.55.6

-18.1

831.523.1

4.22.02.2

-124.5-3.5

-16.73.6

-20.3

1,068.429.7

726.219.7

827.022.5

-100.8-2.7

3,594.73,449.8

3,678.73,530.4

IV

711.319.44.38.3

-4.0

840.223.0

8.71.77.0

-128.8-3.5-4.3

6.6-10.9

1,082.429.6

730.319.5

835.722.3

-105.4-2.8

3,659.23,471.7

3,742.33,550.6

1988

I

916.420.03.62.21.4

1,109.424.2

.717.0

-16.3

-193.0-4.2

2.9-14.8

17.7

1,912.941.7

934.520.0

1,108.023.7

-173.6-3.7

4,592.63,846.4

4,672.83,913.6

II

944.520.228.113.914.2

1,118.123.9

8.74.64.1

-173.6-3.719.4

9.310.1

1,951.041.7

963.220.2

1,116.823.5

-153.6-3.2

4,677.03,868.5

4,758.73,936.1

NOTE.—These estimates incorporate the national income and product account revisions re-leased in July. In addition, the middle-expansion period, which is used to calculate trend GNPand unemployment rate, was extended. Previously it was from the third quarter of 1983 to thesecond quarter of 1986. The period was extended to the second quarter of 1988 to reflect the con-

tinuation of economic expansion without substantial inflation after the second quarter of 1986. Asa result of the extension, middle-expansion trend GNP was revised up by amounts that increasedfrom $2 billion in the third quarter of 1981 to $65 billion in the first quarter of 1988, and thetrend unemployment rate was revised down to 6.9 percent from 7.4 percent.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 24: SCB_081988

22 SURVEY OF CURRENT BUSINESS August 1988

Composite Indexes of Leading, Coincident, and Lagging Indicators

Recent Data and Percent Changes

Index

Lending index

Coincident index

Lagging index

Leading index

Coincident index

Lagging index .... ... .

1987

Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July"

1987

III IV

Index (1967 = 100)

191.7

170.6

141.6

191.9

170.7

143.0

r 192.1

173.1

142.5

r 190.2

172.6

143.3

190.9

174.4

142.7

r 189.9

173.8

144.5

r!91.5

175.2

144.9

r 191.8

176.1

145.7

r 192.5T 176.0r 146.7

r!91.1r!76.6r 146.4

r 193.7r 177.9r 147.3

192.1

178.9

147.4

191.5

170.4

142.1

r!91.1

173.4

142.8

1988

I II

191.1

175.0

145.0

r 192.4r 176.8r 146.8

Percent change from preceding month (quarter)

.4

.5

-.1

.1

.1

1.0

.1

1.4

-.3

-1.0

-.3

.6

rA

1.0

-.4

r-.5

-.3

1.3

.8

.8

.3

r.2

.5

.6

r.4

-.1

r 7

r-.7

r.3r-.2

1.4

.7r.6

-.8

.6

.1

1.4

1.5

0

r-.2

1.8

.5

rQ

.9

1.5

r.7

n.or1.2

"•Revised.p Preliminary.NOTE.—Quarterly data are averages of monthly figures. Quarterly percent changes are computed from quarterly data.

Long -Term Perspective: January 1968 to July 1988

1967 =100 (Ratio scale) 1967 = 100 (Ratio scale)

200190180

170

160

150

140

180

170

160

150

140

130

150

140

130

120

110

100

1968

Note.—Peak (P) indicates the end of business cycle expansion and the beginning of recession(shaded area). Trough (T) indicates the end of business cycle recession and the beginning ofexpansion. Business cycle peaks and troughs are designated by the National Bureau of Economic

Research, Inc. The numbers entered on the chart indicate the length of leads (—) and lamonths from the business cycle turning dates.1. Beginning with data for January 1984, the net business formation component has been suspendedfrom this index.

U.S. Department of Commerce, Bureau of Economic Analysis

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 25: SCB_081988

By THAE S. PARK and JANE S. REEB

Relationship Between Personal Income andAdjusted Gross Income, 1984-86

THE reconciliation of the Bureau ofEconomic Analysis (BEA) measure ofpersonal income with the InternalRevenue Service (IRS) measure of ad-justed gross income (AGI) by type ofincome is revised for 1984-85 and ex-tended to 1986 in this article.1 Thereconciliation incorporates personalincome estimates for 1985-86 pub-lished in the July 1988 nationalincome and product accounts revision,final estimates of AGI for 1984-85,and a preliminary estimate of AGI for1986.2

The reconciliation items (lines 3-9and 11-15) in tables 1-3 allow theconstruction from personal income(line 1) of a BEA-derived AGI (line 22)that conforms to the IRS definition ofAGI (line 23). The reallocations of per-

1. Estimates for earlier years are in "RelationshipBetween Personal. Income and Adjusted Gross Income:Revised Estimates, 1947-83," SURVEY OF CURRENTBUSINESS 66 (May 1986): 34-40, and "Relationship Be-tween Personal Income and Adjusted Gross Income,1983-85," SURVEY 67 (May 1987): 18-20. In the nation-al income and product accounts tables, the reconcilia-tion appears in table 8.14.

2. The estimates of taxable social security benefitsincluded in personal income for 1984-85 also havebeen revised to reflect a modification in the estimat-ing procedure.

sonal income and of the IRS measureof AGI necessary to show the reconcil-iation by type of income are shown inlines 17-21 and lines 25-27. The dif-ference between the BEA-derived AGIand the IRS measure of AGI, calledthe AGI gap, is shown in line 29. Thepercent distribution of the AGI gapby type of income and the AGI gap asa percentage of the BEA-derived AGIare shown in lines 30 and 31, respec-tively.

The AGI gap can be viewed as evi-dence of noncompliance with the taxcode because BEA-derived AGI isbased on estimates of personal incomethat are adjusted to include incomeunreported on individual income taxreturns, while the IRS measure ofAGI is based entirely on unauditedtax return data.3 The noncompliancereflected in the gap is limited to thatassociated with types of income in-cluded in personal income; the gapdoes not reflect noncompliance associ-ated with other types of income, such

as unreported capital gains and unre-ported illegal income.4 In addition toreflecting noncompliance, however,the AGI gap also includes incomeearned by low-income individuals whoare not required to file income tax re-turns, gross errors and omissions inthe estimates of reconciliation items,and the net effect of errors in person-al income and AGI of IRS.

The AGI gap as a percentage of theBEA-derived AGI—a rough indicatorof the rate of noncompliance—has re-mained at about 11 percent for thelast 10 years (table 4). The gaps bytype of income, however, have variedwidely over this period. For rentalincome of persons, the gap increasedsteadily; for personal interest incomeand for taxable unemployment com-pensation, the gaps declined steadily.For farm and nonfarm proprietors'income and for personal dividendincome, the gaps increased steadilyuntil 1984 and then declined, but re-mained above the pre-1977 levels.

3. See Robert P. Parker, "Improved Adjustments forMisreporting of Tax Return Information Used to Esti-mate the National Income and Product Accounts,1977," SURVEY 64 (June 1984): 17-19.

4. For a discussion of why the AGI gap is not ameasure of the size of the underground economy, seeCarol S. Carson, "The Underground Economy: An In-troduction," SURVEY 64 (July 1984): 109.

Tables 1 through 4 follow.

23

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 26: SCB_081988

24 SURVEY OF CURRENT BUSINESS August 1988

Table 1.—Reconciliation of Personal Income and Adjusted Gross Income, by Type of Income, 1984[Billions of dollars]

Line

1

2,

3

456

7

8

9

10

1112131415

16

1718192021

22

23

24

252627

28

29

303132

Personal income

Less: Portion of personal income not included in adjusted grossincome.

Transfer payments except taxable military retirement andtaxable government pensions.

Other labor income except feesImputed income in personal incomeInvestment income retained by life insurance carriers and

private noninsured pensions funds.Investment income received by nonprofit institutions or

retained by fiduciaries.Differences in accounting treatment between NIPA's and tax

regulations, net.Other personal income exempt or excluded from adjusted

gross income.

Plus: Portion of adjusted gross income not included in personalincome.

Personal contributions for social insuranceNet gain from sale of assetsTaxable private pensions 8

Small business corporation incomeOther types of income

Plus: Intercomponent reallocation . . ....

Fees in other labor incomeFiduciaries' share of partnership income

Interest distributed by regulated investment companiesDisability income payments .....

Equals: BEA-derived adjusted gross income

Adjusted gross income of IRS (as reported)

Plus: Intercomponent reallocation .. ....

Estate or trust incomePartnership incomeOther reallocations

Adjusted gross income of IRS (reallocated)

Adjusted gross income (AGI) gap

Percent distribution of AGI gapAGI gap as a percentage of BEA-derived AGIAGI of IRS as a percentage of BEA-derived AGI

Personalincome

3,108.7

954.1

391.8

180.049.498.4

31.6

79.8

123.0

252.7

132.756.258.46.2-.8

0

00000

2,407.3

2,139.9

0

000

2,139.9

267.4

100.011.188.9

Wagesand

salaries

1,838.6

16.4

0

08.50

0

0

7.9

4.1

00004.1

2.9

2.90000

1,829.2

1,807.1

0

000

1,807.1

22.1

8.31.2

98.8

Proprietors'income 1

Farm

30.5

13.9

0

05.60

0

8.4

0

0

00000

J

0-.1000

16.4

-13.1

-1.4

.1-1.5

0

-14.5

30.8

11.5188.3(**)

^onfarm

204.0

43.3

0

02.30

.2

40.8

0

.9

0000

.9

12.7

0.7

13.400

174.4

70.8

-6.4

.6-7.0

0

64.3

110.0

41.163.136.9

Personaldividendincome

75.5

18.6

0

000

7.0

3.5

8.0

0

00000

16.8

000

16.80

73.8

48.6

0

000

48.6

25.1

9.434.165.9

Rentalincome

ofpersons 2

8.5

-10.2

0

018.50

1.5

6.8

0

1.8

00001.8

0

00000

20.5

-8.0

.7

.700

7.3

27.9

10.4135.7(**)

Personalinterestincome

444.7

209.7

0

051.598.4

22.2

20.3

17.3

0

00000

30.2

00

13.4-16.8

0

204.8

176.4

5.8

5.800

182.2

22.7

8.511.188.9

Taxablepensions

andannuities

4 47.0

0

0

000

0

0

0

58.4

00

58.400

0

00000

105.4

80.4

0

000

80.4

24.9

9.323.676.4

Taxableunem-

ploymentcompen-sation

7.4

0

0

000

0

0

0

0

00000

0

00000

7.4

6.1

0

000

6.1

1.3

.517.782.3

Taxablesocial

security>enefits 3

10.5

0

0

000

0

0

0

0

00000

0

00000

10.5

7.9

0

000

7.9

2.6

1.024.775.3

Otherpersonalincome

5 422.0

572.7

391.8

180.0007.8

0

0

132.7

132.70000

-2.1

-2.9.8

000

0

-1.39 1.3

7.18.40

0

0

Incomenot

includedin

personalincome

08 89.7

0

000

0

0

89.7

54.8

056.206.2

-7.6

0

00000

-35.0

-35.0

0

000

-35.0

0

See footnotes at the end of table 3.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 27: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 25

Table 2.—Reconciliation of Personal Income and Adjusted Gross Income, by Type of Income, 1985[Billions of dollars]

Line

1

2

3

456

7

8

9

10

1112131415

16

1718192021

22

23

24

252627

28

29

303132

Personal income

Less: Portion of personal income not included in adjusted grossincome.

Transfer payments except taxable military retirement, taxablegovernment pensions, and taxable social security benefits.

Other labor income except feesImputed income in personal incomeInvestment income retained by life insurance carriers and

private noninsured pensions funds.Investment income received by nonprofit institutions or

retained by fiduciaries.Differences in accounting treatment between NIPA's and tax

regulations, net.Other personal income exempt or excluded from adjusted

gross income.

Plus: Portion of adjusted gross income not included in personalincome.

Personal contributions for social insuranceNet gain from sale of assetsTaxable private pensions 8

Small business corporation incomeOther types of income

Plus: Intercomponent reallocation

Fees in other labor incomeFiduciaries' share of partnership incomeInterest received by nonfarm proprietorsInterest distributed by regulated investment companiesDisability income payments

Equals: BEA-derived adjusted gross income

Adjusted gross income of IRS (as reported) ...

Plus: Intercomponent reallocation

Estate or trust incomePartnership incomeOther reallocations

Adjusted gross income of IRS (reallocated)

Adjusted gross income (AGI) gap

Percent distribution of AGI gapAGI gap as a percentage of BEA-derived AGIAGI of IRS as a percentage of BEA-derived AGI

Personalincome

3,325.3

1,021.4

416.6

184.355.3

112.8

34.8

87.3

130.2

299.4

149.369.872.9

6.21.2

0

00000

2,603.4

2,306.0

0

000

2,306.0

297.4

100.011.488.6

Wagesand

salaries

1,975.4

17.5

0

08.90

0

0

8.6

6.2

00006.2

3.3

3.30000

1,967.4

1,928.2

0

000

1,928.2

39.2

13.22.0

98.0

Proprietors'income l

Farm

30.2

3.5

0

04.70

0

-1.2

0

0

00000

-.10-.1000

26.6

-12.0

-.9

.1-1.0

0

-12.9

39.6

13.3148.6

-48.6

Nonfarm

225.6

54.8

0

02.40

.2

52.3

0

1.3

00001.3

16.3

0-1.017.300

188.4

78.8

-6.9

.9-7.7

0

71.9

116.5

39.261.838.2

Personaldividendincome

78.7

20.4

0

000

7.1

5.2

8.2

0

00000

16.8

000

16.80

75.1

55.0

0

000

55.0

20.1

6.826.773.3

Rentalincome

ofpersons 2

9.2

-11.1

0

0-20.9

0

1.6

8.2

0

1.9

00001.9

0

00000

22.2

-10.9

1.2

1.200

-9.7

32.0

10.7143.7437

Personalinterestincome

478.0

239.1

0

060.2

112.8

24.8

22.9

18.4

0

00000

-34.1

00

-17.3-16.8

0

204.8

182.1

7.5

7.500

189.6

15.2

5.17.4

92.6

Taxablepensions

andannuities

4 52.6

0

0

000

0

0

0

72.9

00

72.900

0

00000

125.5

95.1

0

000

95.1

30.4

10.224.275.8

Taxableunem-

ploymentcompen-sation

7.7

0

0

000

0

0

0

0

00000

0

00000

7.7

6.4

0

000

6.4

1.3

.517.582.5

Taxablesocial

securitybenefits 3

12.8

0

0

000

0

0

0

0

00000

0

00000

12.8

9.6

0

000

9.6

3.2

1.125.274.8

Otherpersonalincome

6 455.0

602.1

416.8

184.300

7 1.1

0

0

149.3

149.30000

-2.2

-3.31.1000

0

1.09 -1.0

^9.78.80

0

0

Incomenot

includedin

personalincome

06 95.1

0

000

0

0

95.1

67.8

069.806.2

-8.2

0

00000

-27.2

-27.2

-1.0

000

-27.2

0

See footnotes at the end of table 3.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 28: SCB_081988

26 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Reconciliation of Personal Income and Adjusted Gross Income, by Type of Income, 1986[Billions of dollars]

Line

1

2

3

456

7

8

9

10

1112131415

16

1718192021

22

23

24

252627

28

29

303132

Personal income

Less: Portion of personal income not included in adjusted grossincome.

Transfer payments except taxable military retirement, taxablegovernment pensions, and taxable social security benefits.

Other labor income except feesImputed income in personal incomeInvestment income retained by life insurance carriers and

private noninsured pensions funds.Investment income received by nonprofit institutions or

retained by fiduciaries.Differences in accounting treatment between NIPA's and tax

regulations, net.Other personal income exempt or excluded from adjusted

gross income.

Plus: Portion of adjusted gross income not included in personalincome.

Personal contributions for social insuranceNet gain from sale of assetsTaxable private pensions 8

Small business corporation incomeOther types of income

Plus: Intercomponent reallocation.

Fees in other labor incomeFiduciaries' share of partnership incomeInterest received by nonfarm proprietorsInterest distributed by regulated investment companiesDisability income payments

Equals: BEA-derived adjusted gross income

Adjusted gross income of IRS (as reported) ,

Plus: Intercomponent reallocation

Estate or trust income . ..Partnership income ..Other reallocations

Adjusted gross income of IRS (reallocated)

Adjusted gross income (AGI) gap

AGI gap as a percentage of BEA-derived AGIAGI of IRS as a percentage of BEA-derived AGI

Personalincome

3,531.1

1,103.2

437.5

192.570.0

121.3

33.1

105.2

143.6

403.0

161.1137.487.810.95.8

0

00000

2,830.8

2,522.5

0

000

2,522.5

308.3

100.010.989.1

Wagesand

salaries

2,094.0

18.7

0

09.40

0

0

9.3

6.7

00006.7

3.6

3.60000

2,085.6

2,046.1

0

000

2,046.1

39.5

12.81.9

98.1

Proprietors'income l

Farm

36.4

4.5

0

04.10

0

.5

0

0

00000

-.10-.1000

31.8

-6.9

-.6

.1-.60

7.5

39.3

12.7123.6(**)

Nonfarm

250.3

66.7

0

03.00

.2

63.5

0

1.3

00001.3

16.2

0-.716.900

201.2

90.4

4.3

.5-4.8

0

86.1

115.1

37.357.242.8

Personaldividendincome

82.8

26.4

0

000

7.4

6.2

12.8

0

00000

21.1

000

21.10

77.5

63.1

0

000

63.1

14.4

4.718.681.4

Rentalincome

ofpersons 2

12.4

-2.8

0

0-16.0

0

1.5

11.6

0

2.0

00002.0

0

00000

17.2

-11.1

.9

.900

-10.2

27.4

8.9159.1(**)

Personalinterestincome

499.1

259.8

0

069.5

121.3

23.2

23.5

22.3

0

00000

-37.9

00

16.9-21.1

0

201.3

168.2

5.4

5.400

173.7

27.7

9.013.786.3

Taxablepensions

andannuities

4 61.9

0

0

000

0

0

0

87.8

00

87.80Q

0

00000

149.7

108.5

0

000

108.5

41.2

13.427.572.5

Taxableunem-

ploymentcompen-sation

8.3

0

0

000

0

0

0

0

00000

0

00000

8.3

7.0

0

000

7.0

1.2

.414.885.2

Taxablesocial

securitybenefits 3

13.5

0

0

000

0

0

0

0

00000

0

00000

13.5

10.9

0

000

10.9

2.7

.919.680.4

Otherpersonalincome

6 472.5

630.8

437.5

192.5007.8

0

0

161.1

161.10000

2.8

-3.6.8

000

0

1.59-1.5

-6.95.40

0

0

Incomenot

includedin

personalincome

06 99.2

0

000

0

0

99.2

144.0

0137.4

010.9

-4.2

0

00000

44.8

44.8

0

000

44.8

0

* Less than $0.05 billion.** Division by a negative number.1. With inventory valuation and capital consumption adjustments.2. With capital consumption adjustment.3. Taxable social security benefits also include a small amount of taxable railroad retirement

benefits.4. Consists of taxable portion of government transfer payments to persons included in personal

income—nondisability military retirement pay and Federal civilian and State and local govern-ment employee retirement benefits in excess of employee contributions.

5. Consists of other labor income, nontaxable portion of government transfer payments to per-sons, business transfer payments, less personal contributions for social insurance.

6. Statutory adjustments.7. Consists of partnership income retained by fiduciaries.8. Taxable private pensions represent the portion of nongovernment pension benefits received

by individuals from annuity and pension plans in excess of the "investment in contract."9. Consists of partnership and estate or trust net incomes.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 29: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 27

Table 4.—Adjusted Gross Income Gap as a Percentage of BEA-derived AGI, Total and by Type ofIncome, 1947-86

Year

194719481949195019511952195319541955...1956... .

195719581959I960196119621963196419651966

19671968 .19691970197119721973197419751976

1977197819791980198119821983198419851986

Total

12.211.411.611.111.611.011.010.610.310.1

9.811.09.9

10.59.8

10.19.8

10.210.59.9

9.19.19.09.59.79.5

10.79.89.69.7

10.711.211.010.710.910.110.711.111.410.9

Wages andsalaries

3.54.24.93.94.13.53.43.63.44.0

3.23.93.13.42.83.22.73.13.33.4

2.62.92.42.42.31.82.41.21.71.6

2.12.31.51.41.31.01.51.22.01.9

Proprietors' income 1

Farm

73.970.169.464.467.165.363.059.753.551.9

47.351.555.560.453.155.261.957.955.551.5

50.355.058.365.269.963.462.971.168.168.5

90.070.582.2

108.2150.2157.7174.9188.3148.6123.6

Nonfarm

6.56.6

11.417.319.421.625.223.924.120.1

24.327.625.827.829.829.230.331.330.430.3

30.029.231.634.136.940.241.545.047.950.0

50.252.355.057.161.361.460.763.161.857.2

Personaldividendincome

8.13.43.78.99.1

12.715.3

g1.510

32.6

1.44.33.23.63.67.68.4

-2.0

1.64.12.75.07.8

10.012.98.83.7

11.4

15.518.521.624.832.923.730.734.126.718.6

Rentalincome ofpersons 2

55.852.444.946.548.348.647.851.554.753.6

56.650.751.249.646.544.547.752.655.950.6

55.649.554.657.556.752.647.041.441.334.8

45.845.553.167.382.896.5

112.0135.7143.7159.1

Personalinterestincome

44.543.441.544.046.446.650.060.062.562.5

62.662.960.358.352.851.545.346.947.744.5

42.441.539.540.337.735.535.332.728.226.5

31.432.332.924.818.913.814.411.17.4

13.7

Taxablepensions

andannuities

40.935.520.532.635.036.539.536.742.247.0

43.743.146.747.747.542.740.641.541.838.4

39.236.537.238.738.637.934.831.328.625.7

23.925.325.525.825.725.424.723.624.227.5

Taxableunemploy-

mentcompensa-

tion

0000000000

0000000000

0000000000

00

28.925.625.921.524.817.717.514.8

Taxablesocial

securitybenefits

0000000000

0000000000

0000000000

0000000

24.725.219.6

1. With inventory valuation and capital consumption adjustments.2. With capital consumption adjustment.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 30: SCB_081988

By REGIONAL ECONOMIC MEASUREMENT DIVISION

State Personal Income, 1985-87: Revised Estimates

Revision Schedule for Regional EstimatesThe annual estimates of State personal income for a given year are sub-

ject to successive refinement. Preliminary estimates, based on the currentquarterly series, are published each April in the SURVEY OF CURRENTBUSINESS, 4 months after the close of the reference year. The followingAugust, more reliable annual estimates are published. These estimates aredeveloped independently of the quarterly series and are prepared in great-er component detail, primarily from Federal and State government ad-ministrative records. The annual estimates published in August are subse-quently refined to incorporate newly available information used to pre-pare the current local area estimates. These revised State estimates are

published the following April, together with the current local area esti-mates. The annual estimates emerging from the three-step process de-scribed above are subject to still further revision for several succeedingyears (the State estimates in April and August and the local area esti-mates in April) as additional data become available. The routine revi-sions of the State estimates for a given year are normally completed withthe fourth April publication. After that, the estimates will be changedonly to incorporate a comprehensive revision of the national income andproduct accounts—which takes place approximately every 5 years—or tomake important improvements to the estimates through the use of addi-tional or more current State and local area data.

J. HIS article presents revised annualestimates of State personal income for1985-87. Tables 1 and 2 present theestimates of total and per capita per-sonal income and of total and percapita disposable personal income, re-spectively (including unrevised esti-mates for 1982-84). Table 3 presentsdetailed estimates of the sources ofpersonal income by type of paymentand by industry for 1985-87.

Revised annual estimates for 1929-68 are now available. These estimatesreflect the comprehensive revision ofthe national estimates introduced inthe December 1985 SURVEY OF CUR-RENT BUSINESS and are consistentwith the revised State estimates for1969 and later years published in theAugust 1987 and April 1988 issues ofthe SURVEY. The estimates for 1985-87 presented here supercede thosepublished previously. The entire timeseries of State personal income, 1929-87, is available in summary and de-tailed tabulations as explained in thebox on page 29.

Definition of total and per capitapersonal income

The personal income of a State isdefined as the income received by, oron behalf of, all the residents of theState. It consists of the income re-ceived by persons from all sources,that is, from participation in produc-

tion, from both government and busi-ness transfer payments, and from gov-ernment interest. Personal income ismeasured as the sum of wage andsalary disbursements, other laborincome, proprietors' income, rentalincome of persons, personal dividendincome, personal interest income, andtransfer payments, less personal con-tributions for social insurance. Stateper capita personal income is meas-ured as the personal income of theresidents of a State divided by theJuly 1 resident population of theState.

In the national and regional eco-nomic accounts, persons are definedas individuals, nonprofit institutionsserving individuals, private nonin-sured welfare funds, and private trustfunds.

Disposable personal income, whichis measured as personal income lesspersonal tax and nontax payments, isthe income available to persons forspending or saving. Personal tax andnontax payments are tax paymentsby persons that are not chargeable tobusiness expense and certain otherpersonal payments to government

Local Area Personal Income, 1981-86

This five-volume set presents local area estimates of total and per capita personal incomeand of personal income by type of payment and labor and proprietors' earnings by industry.Volume 1 contains estimates for the United States, regions, States, and metropolitan areas,including consolidated metropolitan statistical areas (CMSA's). Earnings are presented atthe Standard Industrial Classification (SIC) two-digit level. Each of volumes 2-5 contains es-timates for the United States; the specified region(s); and the States, counties, and metropol-itan areas (excluding CMSA's) of the region(s). Earnings are presented at the SIC industrydivision level. Volumes can be ordered from the Superintendent of Documents, U.S. Govern-ment Printing Office, Washington, DC 20402; see the inside back cover for more order infor-mation.

Volume Area/Title Stock Number Price

1 Summary2 New England, Mideast, and Great

Lakes Regions3 Plains Region4 Southeast Region5 Southwest, Rocky Mountain, and

Far West Regions and Alaskaand Hawaii

003-010-00182-8003-010-00183-6

003-010-00184-4003-010-00185-2003-010-00186-1

$13.00$14.00

$11.00$16.00$14.00

28

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 31: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 29

agencies (except government enter-prises) that are treated like taxes.Personal taxes include taxes onincome, including capital gains; ontransfers of estates and gifts; and onpersonal property. Nontaxes includetuitions and fees paid to schools andhospitals operated by government;fees, fines, and forfeitures; and dona-tions. Personal contributions for

social insurance are not included.State per capita disposable personalincome is measured as the disposablepersonal income of the residents of aState divided by the July 1 residentpopulation of the State.

The definitions underlying theState estimates of personal incomeare essentially the same as those un-derlying the personal income esti-

mates in the national income andproduct accounts. The major differ-ence is that the national estimates in-clude the labor earnings of residentsof the United States temporarilyworking abroad (mainly Federal civil-ian and military personnel), whereasthe State estimates include only theincome of persons residing in the 50States and the District of Columbia.

Acknowledgments

The revised estimates of State personal income were preparedby the Regional Economic Measurement Division under the direc-tion of Linnea Hazen, Chief. The estimates were the result of adivisionwide effort.

Estimates of labor income (wages and salaries and other laborincome) were prepared by the Regional Wage Branch, under thesupervision of Carol E. Evans, Chief. Major responsibilities wereassigned to Sharon C. Carnevale, C. Brian Grove, Michael G. Pilot,and James M. Scott. Contributing staff members include E.Frances Bake, Elizabeth P. Cologer, Susan P. Den Herder, MicheleGallucci, Eddie L. Key, Russell C. Lusher, Richard A. Lutyk, Eliza-beth A. Mack, Lisa C. Ninomiya, Adrienne T. Pilot, William E.Reid, Jr., John A. Rusinko, Victor A. Sahadachny, and Jaime Zen-zano.

Estimates of dividends, interest, rent, transfer payments, person-al contributions for social insurance, tax and nontax payments,and the residence adjustments were prepared by the QuarterlyIncome Branch, under the supervision of Robert L. Brown, Chief.Contributing staff members include David A, Burns, Thelma E.

Harding, John M. Reed, Albert Silverman, James P. Stehle, Isa-belle B. Whiston, Ellen M. Wright, Daniel Zabronsky, and Mar-ianne A. Ziver.

Estimates of proprietors' income were prepared by the Propri-etors' Income Branch, under the supervision of Bruce Levine,Chief. Major responsibilities were assigned to Charles A. Jolleyand James M. Zavrel. Contributing staff members include ElaineM. Briccetti, Daniel R. Corrin, Kirk Fox, Richard H. Grayson, andToui C. Pomsouvan.

The assembly of public-use tabulations and data files and thepreparation of the text and tables for this article were performedby the Regional Economic Information System (REIS) Branch.Major responsibilities were assigned to Kathy A. Albetski, WallaceK. Bailey, Kenneth P. Berkman, and Gary V. Kennedy. Secretari-al support was provided by Hilda G. Tolson. Contributing staffmembers include Eairla A. Hawkins, Louise T. Johnson, Susan J.Lease-Trevathan, Lela S. Lester, Jeffrey L. Newman, Michael J.Paris, Darlene C. Robinson, Elizabeth R. Self, and Mary C. Wil-liams.

Data Availability

The State personal income estimates presented here, as well asmore detailed tabulations and estimates for earlier years, areavailable on magnetic tape, computer printouts, microfiche, andmicrocomputer diskettes. Tables of total and per capita personalincome are available for 1929-87, and tables of total and per capitadisposable personal income are available for 1948-87. Detailed per-sonal income tables, similar to table 3 in this article, are availablefor 1929-87. The tables for 1958-87 present labor and proprietors'earnings at the two-digit Standard Industrial Classification (SIC)level (e.g., food stores); those for 1929-57 present earnings at theSIC industry division level (e.g., total retail trade). Supplementaltables for 1969-87 are available for wages and salaries by two-digitSIC industry, employment (either including or excluding self-em-ployment) by two-digit SIC industry, transfer payments by major

program, farm income and expenses (including broad categories ofgross receipts and expenses of all farms as well as farm propri-etors' income), and personal tax and nontax payments by level ofgovernment and by type. A magnetic tape containing a completeset (United States, regions, and States) of tables for a series costs$200. The tables in forms other than magnetic tape are priced bypage, microfiche, or diskette; the cost of an order will depend onthe number of table series, areas, and years of data ordered. Thereis a minimum charge of $5.00 per order.

For further information or to place an order, call (202) 523-0966or write to Regional Economic Information System, BE-55, Bureauof Economic Analysis, U.S. Department of Commerce, Washington,DC 20230.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 32: SCB_081988

30 SURVEY OF CURRENT BUSINESS August 1988

Table 1.—Total and Per Capita Personal Income by States and Regions, 1982-87

United States 1

New EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermont

MideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvania

Great LakesIllinois . .IndianaMichigan . .Ohio .Wisconsin

PlainsIowaKansasMinnesotaMissouriNebraskaNorth DakotaSouth Dakota

SoutheastAlabamaArkansasFloridaGeorgiaKentuckyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest Virginia

SouthwestArizonaNew MexicoOklahomaTexas

Rocky MountainColoradoIdahoMontana . . . .UtahWyoming

Far WestCaliforniaNevadaOregonWashington

AlaskaHawaii

New EnglandMiddle AtlanticEast North CentralWest North CentralSouth AtlanticEast South CentralWest South CentralMountainPacific

Total

Millions of dollars

1982

2,663,432

156,30545,23710,90273,26610,99010,6435,267

533,7977,1989,210

54,411103,773223,261135,945

469,844141,84156,447

101,228117,76652,562

192,72231,56928,45947,73453,72317,5767,0706,590

537,11034,85119,855

118,53055,78734,28144,86320,55155,86728,04842,96963,83717,671

259,15529,75613,01236,713

179,673

76,35638,8229,0798,118

14,0916,246

418,672328,033

10,95628,26351,420

7,73911,732

1983

2,834,385

169,14548,63011,78179,42512,26011,4585,591

570,6317,7149,599

58,647112,510239,979142,183

493,266147,78659,036

107,437123,97255,035

200,48531,79029,47150,02757,09117,9877,3616,760

577,33137,09321,158

130,64161,21135,34046,45621,43160,72230,32945,74569,31017,895

272,35932,75013,79636,925

188,888

80,93441,5429,7788,504

14,9986,112

448,600352,438

11,60030,01054,552

8,75812,875

1984

3,101,163

187,44753,89312,91588,26013,75212,5056,122

621,8518,391

10,39264,544

123,602263,537151,386

539,149161,42665,015

118,047134,76159,900

220,09334,76331,78955,82462,52519,7787,9307,483

634,23540,34923,309

143,92668,92038,73248,79823,15967,85133,47650,36076,45218,902

296,10936,80014,97938,824

205,505

86,93244,94710,3578,922

16,4266,280

492,579389,18312,67832,30258,416

9,14013,628

1985

3,317,239

201,90457,84713,83494,94415,34913,3056,626

665,1519,082

11,06570,175

133,403280,397161,029

570,503169,92168,378

127,264142,03362,906

232,87336,20833,85559,28966,72920,8298,1637,801

681,05843,03824,825

158,31575,37640,16850,63824,14373,02935,78353,68182,51119,553

318,10640,95416,24840,209

220,694

91,45047,46110,8639,095

17,4966,536

531,841422,14213,79133,95561,953

9,77714,576

1986

3,521,393

218,62962,41815,056

102,88416,84514,2197,207

709,6459,814

11,80375,550

143,297299,324169,857

602,131179,07672,217

135,320148,92966,590

245,93137,99935,66763,17370,61821,6838,4418,351

726,82545,73626,135

170,99482,06941,98550,53925,36178,65438,16257,52389,37220,296

327,49644,85716,94440,493

225,203

94,84749,36411,1929,583

18,2536,455

570,474453,404

14,94935,77866,343

9,78015,634

1987

3,768,125

238,63968,29116,558

112,08518,52915,3377,840

764,30310,75112,72282,190

156,145320,930181,565

637,451190,43076,961

141,618157,58070,862

260,85040,34837,45067,62474,94522,8458,7388,900

783,15548,75327,481

187,36588,97744,94551,17427,01385,38241,11062,53397,51520,907

340,13148,46617,81241,069

232,783

98,53451,36911,8479,992

19,0956,231

618,513492,989

16,48438,24570,795

9,57616,972

Avg. annu(perc

1982-87

7.19

8.838.598.728.88

11.017.588.28

7.448.366.678.608.527.535.96

6.296.076.406.956.006.16

6.245.035.647.226.895.384.336.19

7.836.946.729.599.795.572.675.628.857.957.798.843.42

5.5910.256.482.275.32

5.235.765.474.246.27

-.05

8.128.498.516.246.60

4.357.67

al growth

1986-87

7.01

9.159.419.988.949.997.868.79

7.709.557.788.798.977.226.89

5.876.346.574.655.816.42

6.076.185.007.056.135.363.526.58

7.756.605.159.578.427.051.266.518.557.728.719.113.02

3.868.055.131.423.37

3.894.065.854.274.61

-3.46

8.428.73

10.276.896.71

-2.098.56

Per capita

Dollars

1982

11,480

12,56914,4609,568

12,75111,59111,16810,122

12,59312,00014,69612,73613,96612,70311,440

11,29212,35510,29311,10110,92711,073

11,10810,85711,81111,54910,86811,05510,5209,489

9,8768,8378,604

11,3159,8679,277

10,2348,0069,2818,7109,208

11,6319,007

11,33910,3169,506

11,39011,684

11,02812,6399,284

10,0849,041

12,235

12,83813,23512,49910,58112,018

17,36011,760

1983

12,098

13,53915,47410,27013,78012,78711,99910,639

13,40712,71915,37113,64215,06513,58111,953

11,88312,85810,78311,86611,54211,590

11,51010,94512,13712,06911,50011,26610,8049,673

10,4849,3619,098

12,14310,6739,513

10,4608,2979,9879,3239,753

12,4699,115

11,59211,0729,840

11,13311,941

11,45713,1969,894

10,4249,400

11,837

13,52413,92612,96211,27112,675

18,13412,641

1984

13,114

14,90417,07311,16015,23014,06013,02511,551

14,55613,66216,66014,84716,44214,86712,730

12,96614,00711,83913,03012,54512,576

12,57011,97213,02213,40912,49412,32311,54910,613

11,36710,1119,935

13,02111,79410,40310,9378,912

10,99910,15710,65213,5679,685

12,40112,07710,49911,69212,777

12,16214,09410,36310,83610,12012,246

14,60615,09613,84612,05513,431

18,09013,157

1985

13,895

15,94418,21711,87616,30515,37313,76312,383

15,52914,59017,75615,98017,62615,78613,573

13,70014,72812,43314,00813,21913,174

13,26912,57013,82614,14913,25612,98211,92111,017

12,04410,70510,52313,92112,61810,77511,2919,239

11,66510,73411,26314,47210,099

13,08112,95511,20312,12413,466

12,67314,67810,82311,02110,64212,827

15,46316,01614,67112,62814,060

18,72613,867

1986

14,606

17,15819,54712,84617,63516,39614,58913,320

16,49115,49818,87616,93418,79316,82114,281

14,43215,50313,12414,80713,85713,923

13,99813,33514,50314,99513,94613,57212,44011,803

12,68711,29311,02514,62213,45411,26811,2339,663

12,42311,28611,98415,42310,587

13,23113,67911,45912,24913,494

13,07015,11411,17211,72610,96812,723

16,23716,79215,45313,23914,866

18,37814,683

15,481

18,57921,26613,95419,14217,52915,55514,302

17,67816,69620,45718,12420,35218,00415,212

15,21216,44213,91415,39314,61214,742

14,79214,23615,12615,92714,68714,32813,00412,550

13,49711,94011,50715,58414,30012,05911,47310,29213,31412,00412,88016,51711,020

13,63414,31511,87512,55113,866

13,54615,58411,86812,34711,36612,709

17,21317,82116,36614,04115,599

18,23015,679

Percent ofnationalaverage

1982

100

10912683

1111019788

110105128111122111100

9810890979596

9795

10310195969283

8677759986818970817680

10178

99908399

102

96110818879

107

11211510992

105

151102

1987

100

12013790

12411310092

11410813211713111698

9810690999495

969298

10395938481

877774

10192787466867883

10771

8892778190

8810177807382

11111510691

101

118101

Rankin

U.S.

1987

13138

1827

9

526

20

1132192422

29211323253539

434617284147503442361049

26443833

1645404837

7123015

414

Census Regions

156,305462,978469,844192,722410,558132,653281,104130,080427,187

169,145494,671493,266200,485446,067139,609293,427139,079458,634

187,447538,525539,149220,093492,854152,601316,437151,389502,669

201,904574,829570,503232,873534,889161,029336,365162,444542,402

218,629612,478602,131245,931576,714170,605342,370171,596580,939

238,639658,640637,451260,850626,919183,244352,507181,297628,577

8.837.306.296.248.846.684.636.878.03

9.157.545.876.078.717.412.965.658.20

12,56912,55111,29211,10810,7148,919

11,11410,79212,875

13,53913,35711,88311,51011,4739,338

11,32811,29013,578

14,90414,50112,96612,57012,46710,14612,07212,07514,634

15,94415,45513,70013,26913,30110,64512,66912,72315,485

17,15816,41414,43213,99814,08711,22412,74413,21816,244

18,57917,59515,21214,79215,04011,98513,10013,76917,206

109109989793789794

112

120114989697778589

111

1. The personal income level shown for the United States differs from that in the national income and product accounts, primarily because it omits the earnings of Federal civilian and militarypersonnel stationed abroad and of U.S. residents who are employed abroad temporarily by private U.S firms.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 33: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 31

Table 2.—Total and Per Capita Disposable Personal Income by States and Regions, 1982-87

United States

New EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermont

MideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvania

Great LakesIllinois....IndianaMichiganOhioWisconsin

PlainsIowa ....KansasMinnesota . .Missouri. ....Nebraska . ..North Dakota . ..South Dakota

SoutheastAlabamaArkansasFloridaGeorgiaKentucky....LouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest Virginia

SouthwestArizonaNew MexicoOklahomaTexas

Rocky MountainColoradoIdahoMontanaUtahWyoming

Far WestCaliforniaNevadaOregonWashington

AlaskaHawaii

New EnglandMiddle AtlanticEast North CentralWest North CentralSouth Atlantic .....East South CentralWest South CentralMountainPacific

Total

Millions of dollars

1982

2,255,123

132,07137,7719,366

61,5909,6339,1454,566

444,9585,8367,424

44,71688,004

182,964116,014

399,749121,12747,94586,010

100,33944,328

161,92626,58723,72039,66745,26614,7266,1405,820

458,08729,76717,018

100,35047,18129,52138,31617,68347,97524,01637,37353,74315,144

218,57725,51111,13230,143

151,792

64,51732,4487,8407,048

12,0225,158

358,599280,812

9,34423,80644,637

6,42510,213

1983

2,424,880

143,80741,37510,17566,63210,72210,0614,842

481,8736,3757,838

49,00196,464

199,888122,309

422,335127,32750,37291,452

105,98847,196

170,58827,02124,89641,71849,02515,4576,4196,052

496,48431,73818,412

112,90251,52130,69040,26418,48852,33326,04339,82458,85715,414

234,15528,36412,06631,406

162,319

69,55435,5758,6527,238

13,0585,030

387,653303,92710,13525,63447,957

7,33111,100

1984

2,662,051

160,27446,00211,29474,44912,22111,0085,300

526,0336,9208,574

54,276105,953219,711130,600

463,757139,04256,201

100,991116,19451,329

189,24830,08327,13947,07953,83217,2917,1036,721

546,95034,84420,127

124,27958,01033,68442,61020,01258,69328,99544,23565,14616,316

255,25632,17912,78332,967

177,326

75,10138,7629,1547,705

14,2185,263

425,758335,105

10,80427,92651,923

7,78811,886

1985

2,831,775

171,06648,57912,09579,63713,45111,6485,657

559,1767,4799,095

58,945113,678231,170138,808

489,108146,30158,696

107,947121,85854,306

199,99531,29828,62349,84457,66218,2337,2437,092

582,79636,60421,622

135,46162,99434,61044,06120,90861,93430,73246,74670,03317,092

272,93635,60014,06332,669

190,604

78,54040,5209,5437,987

15,0355,456

457,081361,501

11,66529,02054,895

8,48512,593

1986

3,011,136

185,43352,53413,16386,29614,79112,4786,170

597,1928,0859,730

63,477122,538246,682146,680

517,261154,50862,032

115,250127,96257,508

212,26032,89130,32253,67361,25918,9797,5307,606

623,31538,85322,856

146,67868,78736,25744,06421,97766,88532,74650,31376,14217,757

281,37839,12414,66132,891

194,702

81,51542,1089,8468,419

15,7575,385

490,757388,371

12,75030,79558,842

8,52013,505

1987

3,199,087

201,32857,11014,34893,63616,24013,3326,662

637,8138,740

10,39068,604

132,575261,319156,184

544,317163,13465,578

120,195134,29161,119

223,53834,61231,58457,04664,59919,8987,7308,069

667,65741,10823,878

160,07674,15138,59144,30523,27472,07435,06254,42082,52818,188

289,80542,07915,17033,014

199,542

83,95743,37410,3868,730

16,3415,126

527,842418,76313,99732,57662,506

8,26014,571

Avg. annual growth(percent)

1982-87

7.24

8.808.628.908.74

11.017.837.85

7.478.416.968.948.547.396.13

6.376.146.466.926.006.64

6.665.425.897.547.376.204.716.75

7.836.677.019.799.465.512.955.658.487.867.818.963.73

5.8010.536.391.845.62

5.415.985.784.376.33

13

8.048.328.426.476.97

5.157.37

1986-87

6.24

8.578.719.008.519.796.847.97

6.808.106.798.088.195.936.48

5.235.585.724.294.956.28

5.315.244.166.295.454.842.656.08

7.115.814.479.137.806.44

.555.907.767.078.168.392.43

2.997.553.48.37

2.49

3.003.005.483.703.714 82

7.567.839.785.786.23

-3.067.90

Per capita

Dollars

1982

9,721

10,62112,0738,220

10,71910,1609,5968,777

10,4979,729

11,84610,46711,84410,4109,763

9,60810,5518,7439,4339,3109,338

9,3339,1449,8449,5979,1579,2629,1378,379

8,4237,5487,3759,5808,3457,9898,7416,8897,9707,4588,0099,7927,719

9,5648,8448,1339,3519,871

9,31810,5648,0178,7557,714

10,105

10,99611,33010,6598,912

10,433

14,41310,238

1983

10,350

11,51113,1668,870

11,56011,18310,5369,213

11,32110,51112,55111,39912,91611,31210,282

10,17411,0789,201

10,1019,8689,939

9,7939,303

10,25310,0659,8759,6829,4228,659

9,0168,0097,917

10,4948,9838,2619,0667,1578,6078,0058,491

10,5897,851

9,9669,5898,6069,469

10,261

9,84611,3008,7558,8738,1849,742

11,68712,00911,3259,628

11,143

15,17910,898

1984

11,257

12,74314,5739,759

12,84712,49511,46610,000

12,31311,26713,74512,48514,09412,39410,982

11,15312,06410,23411,14710,81710,776

10,80910,36011,11711,30910,75710,77410,3459,531

9,8038,7318,578

11,2449,9279,0479,5507,7019,5148,7979,356

11,5618,360

10,69010,5608,9609,928

11,025

10,50712,1559,1599,3588,760

10,263

12,62512,99811,79910,42211,938

15,41411,475

1985

11,862

13,50915,29910,38313,67713,47212,04810,572

13,05512,01514,59513,42315,02013,01511,700

11,74612,68010,67311,88211,34111,373

11,39510,86611,68911,89511,45511,36410,57710,016

10,3069,1059,166

11,91110,5469,2849,8258,0019,8939,2189,808

12,2848,828

11,22411,2629,6969,851

11,630

10,88412,5329,5089,6789,145

10,707

13,29013,71512,40910,79312,458

16,25011,980

1986

12,489

14,55316,45211,23114,79214,39712,80211,404

13,87712,76715,55914,22816,07113,86312,333

12,39813,37711,27312,61111,90612,024

12,08111,54212,32912,74012,09811,88011,09810,750

10,8809,5949,642

12,54311,2769,7319,7948,374

10,5649,684

10,48213,1409,263

11,36811,9319,9159,950

11,666

11,23312,8929,828

10,3029,468

10,615

13,96814,38413,17911,39513,185

16,01012,684

1987

13,143

15,67417,78412,09215,99215,36313,52212,153

14,75313,57216,70815,12817,28014,66013,085

12,99014,08511,85613,06512,45312,715

12,67612,21312,75713,43612,65912,47911,50411,377

11,50710,0689,998

13,31411,91810,3549,9338,868

11,23910,23811,20913,9799,587

11,61712,42810,11310,08911,886

11,54213,15810,40410,7889,727

10,454

14,69015,13813,89611,96013,773

15,72413,461

Percent ofnationalaverage

1982

100

10912485

1101059990

108100122108122107100

9910990979696

9694

1019994959486

8778769986829071827782

10179

98918496

102

96109829079

104

11311711092

107

148105

1987

100

11913592

12211710392

112103127115131112100

9910790999597

969397

10296958887

887776

10191797667867885

10673

8895777790

8810079827480

11211510691

105

120102

Rankin

U.S

1987

i2935

1428

13

728

19

933202522

27211623243435

454617314147503642371049

26434432

1840384839

6113012

415

Census Regions

132,071386,982399,749161,926346,385114,343237,268110,504365,894

143,807418,660422,335170,588380,281120,739252,401120,118395,950

160,274456,264463,757189,248421,208132,774273,030130,868434,628

171,066483,656489,108199,995453,765138,868288,955139,869466,493

185,433515,900517,261212,260490,287147,400294,513148,049500,032

201,328550,078544,317223,538529,815157,393300,739155,202536,676

8.807.296.376.668.876.604.867.037.96

8.576.625.235.318.066.782.114.837.33

10,62110,4919,6089,3339,0407,6889,3819,168

11,028

11,51111,30510,1749,7939,7818,0769,7449,751

11,723

12,74312,28611,15310,80910,6548,828

10,41610,43812,653

13,50913,00311,74611,39511,2849,180

10,88410,95513,318

14,55313,82612,39812,08111,9769,697

10,96311,40413,982

15,67414,69512,99012,67612,71010,29411,17611,78714,690

109108999693799794

113

119112999697788590

112

::::: :

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 34: SCB_081988

32 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Personal Income by[Millions

Line

123

45

6789

1011

1213141516

171819202122232425262728

2930313233343536373839404142434445464748

49505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Item

Income by Place of Residence

Total personal income (lines 6-11)..Nonfarm personal incomeFarm income (line 17) 1

Population (thousands) 2

Per capita personal income (dollars)

Derivation of Total Personal Income

Earnings by place of work (line 12-16 or 17-84)Less' Personal contributions for social insurance 3

Plus' Adjustment for residence 4

Equals: Net earnings by place of residencePlus' Dividends, interest and rent 5

Plus' Transfer payments

Earnings by Place of Work

Components of earnings:Wages and salariesOther labor income . . . . . .Proprietors' income 6

FarmNonfarm6

Earnings by Industry

Farm . . . .Nonfarm ;

PrivateAgricultural services, forestry, fisheries, and other 7

Agricultural servicesForestry, fisheries and other 7

Mining .Coal miningOil and gas extractionMetal miningNonmetallic minerals except fuels

Construction

ManufacturingNondurable goods

Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal products .Tobacco manufactures ...Rubber and miscellaneous plastics productsLeather and leather products

Durable goods.Lumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipmentTransportation equipment excluding motor

vehicles.Motor vehicles and equipmentStone clay and glass productsInstruments and related products . .Miscellaneous manufacturing industries ,

Transportation and public utilitiesRailroad transportation . . .Trucking and warehousing ,Water transportationOther transportation 8

CommunicationElectric, gas, and sanitary services ,

Wholesale tradeRetail tradeFinance, insurance, and real estate

Banking and credit agenciesOther finance, insurance, and real estate 9

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness servicesAuto repair, services, and garagesMiscellaneous repair servicesAmusement and recreation servicesMotion picturesHealth servicesLegal servicesEducational servicesSocial servicesMuseums botanical zoological gardensMembership organizationsMiscellaneous services

Government and government enterprisesFederal, civilianMilitaryState and local

United States

1985

3,317,2393,278,334

38,905

238,73613,895

2,410,563148,710

5342,261,319

565,947489,973

1,967,167187,427255,96930,321

225,648

38,9052,371,6581,987,497

11,4059,4461,959

40,1468,290

26,9291,8323,095

151,928

529,239190,59638,13112,31815,69820,66534,25236,925

9,2292,215

18,6322,531

338,64315,1749,295

27,20339,67866,26861,78739,028

35,68515,83120,5808,114

173,17813,43443,063

5,45430,67545,98834,564

157,720236,544156,32655,901

100,425

531,01116,64624,4488,863

115,04622,1909,695

13,0336,089

158,55442,59923,20113,868

59720,89555,287

384,16184,43738,781

260,943

1986

3,521,3933,478,153

43,240

241,09614,606

2,566,850160,498

5152,405,837

594,241521,315

2,085,781195,982285,08734,757

250,330

43,2402,523,6102,117,421

11,7479,4172,330

29,7017,962

16,7131,6913,335

165,435

543,795198,21039,75713,16416,03921,62136,40838,2598,8892,211

19,4382,424

345,58516,2009,777

26,21540,06765,24462,77142,736

36,10416,37921,6758,417

179,66012,70944,9605,191

34,53446,07836,188

165,386252,873177,80462,249

115,555

591,02017,61526,4598,907

129,54024,17410,44214,7366,330

171,37448,82624,55415,543

70022,10969,711

406,18984,73140,576

280,882

1987

3,768,1253,718,473

49,652

243,40015,481

2,757,287171,342

-5302,585,415

634,004548,706

2,238,852207,731310,70440,739

269,965

49,6522,707,6352,274,073

13,36510,7342,631

28,8777,612

15,9191,8423,504

176,606

562,790208,64141,48214,24516,59522,57439,21740,0488,7762,311

20,9212,472

354,14917,61110,55526,28440,19766,54364,11545,280

35,65316,91322,0918,907

189,45511,98148,9715,146

37,34548,11237,900

175,864269,770199,42367,244

132,179

657,92319,17428,4089,019

144,48726,09310,88016,1377,169

193,82456,86326,76717,361

11123,57077,394

433,56289,90942,377

301,276

New England

1985

201,904201,302

603

12,66315,944

145,3998,8333,040

139,60635,00027,299

119,97611,95913,464

41113,052

603144,797126,481

659438221572(D)

439(D)93

9,161

39,74911,0641,229

911790

1,9062,4021,670

8830

1,464574

28,685720357

1,1243,1206,1747,0734,886

355697

2,9001,279

7,845280

1,822161

1,3682,4891,724

9,14014,36110,1003,0907,010

34,896810

1,437396

7,7151,249

482616130

10,8812,4063,1021,096

651,0093,501

18,3163,3631,293

13,660

1986

218,629217,961

668

12,74217,158

158,7769,8523,182

152,10637,53228,991

130,88112,67915,216

48014,736

668158,107138,596

8114873241103644

2116

10,789

40,76811,4561,272

911769

1,9632,6151,774

9632

1,513512

29,312791395

1,1493,0816,2797,1015,123

340711

3,0251,315

8,123264

1,961172

1,4992,3661,860

10,01616,22311,9123,6378,274

39,845906

1,597396

9,1551,424

570708145

11,7722,8503,3621,259

721,0984,530

19,5113,3961,373

14,742

1987

238,639237,912

728

12,84418,579

174,99110,7763,414

167,62940,63330,377

144,47213,72616,793

53116,262

728174,264152,968

96758238522829593

13712,606

41,78011,9541,313

943713

2,0472,9081,837

10632

1,550504

29,826884415

1,1603,1166,7136,6785,254

318775

3,1251,386

8,926264

2,192192

1,6382,5852,054

11,36618,08814,0714,2139,859

44,9371,0461,757

40010,3111,579

613798159

13,2903,3623,6571,471

821,1965,215

21,2963,6411,423

16,232

Connecticut

1985

57,84757,708

138

3,17518,217

41,0942,5772,431

40,94810,4966,403

34,2063,6473,241

933,148

13840,95636,283

127120

6220(D)

153(D)30

2,568

12,5712,971

362110177332664920

930

35710

9,6008791

4631,3371,5521,6983,037

90152832261

2,161(°)

449(D)(D)

691545

2,7433,6863,546

8962,650

8,661115399124

1,97529412317541

2,804597635240

12290837

4,673659351

3,663

1986

62,41862,249

168

3,19319,547

44,6732,8502,588

44,41111,2216,786

37,2573,7903,626

1233,503

16844,50439,577

141133

861(D)10(D)35

2,922

12,9993,116

365101189337718998

1331

35212

9,88310493

4581,3321,7351,5583,227

99154867257

2,223(D)

488(D)(D)

642583

2,9564,2084,1781,0533,125

9,889135446124

2,322331150201

423,028

70967427613

3121,125

4,927669364

3,894

1987

68,29168,120

171

3,21121,266

49,3613,1232,786

49,02412,1537,114

41,2484,0994,015

1233,891

17149,19043,705

174164

994(D)22(D)43

3,436

13,2963,223

379100160364779

1,0171532

36314

10,07312094

4571,3251,7341,6243,345

98168841267

2,459(D)

568(D)(D)

705627

3,2924,7494,9651,2333,732

11,240169495125

2,588372161230

423,520

84371132315

3401,307

5,485736382

4,367

Maine

1985

13,83413,736

98

1,16511,876

9,613557,

99,0652,2342,534

7,619807

1,18749

1,138

989,5157,739

1023270320

2912

699

2,3911,342

13811857

6129223(D)(D)78

2191,049

308(°)1875

119203253

(D)299

15

58458

2071547

142115

4991,095

419157262

1,91778

10645

200903334

67811369377

273

161

1,776493234

1,048

1986

15,05614,971

85

1,17212,846

10,528617

509,9612,4472,648

8,328868

1,33337

1,296

8510,4438,590

14234

10800

(D)1

(D)

850

2,5071,366

14112458

6481022380

76186

1,141318

221969

122223302

2351416

61649

2241656

147125

5531,246

504182322

2,17283

11745

2471014140

r83715710488

77227

1,854481237

1,136

1987

16,55816,406

152

1,18713,954

11,73368067

11,1212,6682,770

9,239960

1,534102

1,432

15211,5819,573

17041

12970

(D)

(D)1,042

2,6251,394

14713048

6531152470

79191

1,231348

261773

125238326

4431616

67341

2521862

156145

6161,393

585202382

2,46295

12946

28512246455

94218511298

283

268

2,007509252

1,247

Massachusetts

1985

94,94494,760

184

5,82316,305

70,7314,1741,213

65,34416,31113,289

58,7045,5976,429

1376,293

18470,54761,955

319212106223(D)

186(D)36

3,966

18,0414,884

543404460685

1,262597630

648221

13,156113151364

1,2433,4733,8331,256

228337

1,720439

3,936130839

(D)(D)

1,296784

4,5806,9474,8821,5653,317

19,062396666155

4,661623246292

725,5371,3341,901

58545

4822,065

8,5921,611

4126,569

1986

02,88402,671

213-

5,83417,635

77,0944,674

-1,15571,26517,38714,232

63,8765,9297,289

1677,122

21376,88167,642

39324115230(D)19(D)48

4,721

18,1775,022

562397424692

1,372615660

700192

13,155125178394

1,2133,3153,9431,239

195329

1,782442

4,027136889

(D)

(D)1,210

842

5,0437,7715,7391,8503,890

21,741445731154

5,51870728533486

5,9851,5842,081

67750

5302,574

9,2391,637

4507,152

1987

12,08511,897

187

5,85519,142

84,7045,101

-1,24778,35618,79414,934

70,3476,4057,952

1407,812

18784,51674,528

46328218182(D)27(D)53

5,565

18,5135,315

574406412726

1,548647

740

740188

13,199142185401

1,2483,7073,4181,230

171346

1,879472

4,431153969

(D)(D)

1,338944

5,8058,5296,7622,1234,639

24,378505800155

6,21777230637298

6,6481,8652,274

79958

5802,929

9,9881,731

4547,804

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 35: SCB_081988

August 1988

Major Sources, 1985-87of dollars]

SURVEY OF CURRENT BUSINESS 33

New Hampshire

1985

15,34915,316

33

99815,373

10,208604

1,52811,1322,5101,708

8,176829

1,20219

1,183

3310,1759,016

3828941

30011

1,041

2,99882275703416314929(D)(D)21585

2,177114(D)12216477563733

(D)7418146

491(D)1414(D)

160129

5761,178514173342

2,137831192744911933535

63612417072264181

1,159201106852

1986

16,84516,806

39

1,02716,396

11,480688

1,45112,2432,7921,811

9,165923

1,39325

1,367

3911,44110,176

43331110

-4015

1,250

3,1458377774331661643220

21277

2,308134311221648446404028320247

538(°)1615(D)157149

6501,391634211423

2,516901382755014239635

71515118285269257

1,265206112946

1987

18,52918,492

37

1,05717,529

12,805762

1,54113,5843,0461,898

10,2341,0061,566

221,544

3712,76911,350

53401322

3019

1,369

3,2938848282311851913810

20470

2,409153331331708746503919321646

587(D)1815(D)167163

7511,618784267517

2,8721001542861315642736

83618219899276307

1,419229115

1,075

Rhode Island

1985

13,30513,257

48

96713,763

9,088671247

8,6642,2702,371

7,57472478942747

489,0407,582

49232627

24

3490

2,5267746219644501558680

13736

1,75225311411971382862302851118506

388(D)9514(D)13089

511937540213327

2,1143496233097536433

79515420984273177

1,457277169

1,012

1986

14,21914,171

49

97514,589

9,872744188

9,3162,4242,480

8,21278187943836

499,8238,302

692544-0

(D)

(D)584

2,6478166720246521698970

14240

1,83229341392001493132243953110542

421(D)10217(D)13893

5591,043617244373

2,36133107233698641483

84317822195380233

1,521280188

1,053

1987

15,33715,291

46

98615,555

10,752805194

10,1412,6062,590

8,96283795240913

4610,7069,072

7929507

(D)

(D)680

2,7038306621246531799480

13636

1,87329361331951633152184157115571

458(D)11619(D)142102

6071,164697277419

2,67937117234399542523

941207251109387272

1,634304194

1,135

Vermont

1985

6,6266,524101

53512,383

4,66625038

4,4541,179993

3,69635561572543

1014,5653,906

2421228

17o11396

1,22227150131764791600293

952733518105117415765543913

28424923317163

23151719886112

1,00610351221224812193

32660943722779

65912121517

1986

7,2077,093113

54113,320

5,12827961

4,9111,2621,035

4,04338969684612

1135,0154,309

2321110

(D)(D)

12463

1,29329958131866901700305

994813719104114425904584912

29721963377369

25456523997142

1,16512057231505615224

3647010138229113

70612323560

1987

7,8407,705135

54814,302

5,63630673

5,4031,3661,071

4,442420775104670

1355,5014,738

2826215

(D)(D)

14513

1,34930965141866951800285

1,041924220104111433963685813

318171063427673

294635280110170

1,30714063231696116266

4038111241330132

76313326604

Mideast

1985

665,151662,9532,197

42,83215,529

482,20732,048-6,438443,722117,140104,289

399,64136,96045,606157144,035

2,197480,010402,2141,6131,209403

3,1801,1761,622

60321

26,476

97,61342,3036,6921,5204,7753,6609,30810,7052,217185

2,684556

55,3101,0371,1966,0976,02911,12711,4493,258

3,2893,2176,5132,099

34,7411,8537,0811,5766,57211,0016,657

33,33941,72542,02913,66028,369

121,4993,4094,2761,75228,6213,7581,7552,7821,26633,68811,8227,3883,943199

4,79812,041

77,79621,9903,43552,371

1986

709,645707,2652,380

43,03316,491

518,75535,117-6,570477,068122,152110,426

429,18638,68150,888175949,129

2,380516,375434,0171,7261,278448

1,6361,11110853364

30,210

98,66743,2496,9371,5484,6933,7079,84211,0481,964162

2,800548

55,4171,1781,2665,5426,17810,96111,6723.329

3;oso3,3346,6912,185

36,0281,8167,5091,5167,13511,0037,049

35,40545,63348,87015,52233,348

135,8413,6474,6491,74832,4234,1271,8943,1621,25936,47513,7747,8584,530221

5,06715,007

82,35821,9113,59356,855

1987

764,303761,6762,627

43,23417,678

563,07937,884-7,067518,128131,003115,172

466,32641,21755,535197153,564

2,627560,452471,7471,9711,470501

1,9141,06439352406

33,849

101,08445,0737,1801,6314,7463,84810,64811,5461,828113

2,977556

56,0121,3401,3265,4216,25710,71011,9003.473

3;i593,4506,6782,297

37,8791,8038,2781,4067,55311,4207,419

38,01449,50556,12317,07739,047

151,4083,9995,0121,75836,1854,5772,0133,5041,40241,09115,9438,5825,023241

5,41716,659

88,70523,1483,81361,745

Delaware

1985

9,0828,959123

62214,590

7,209591

-2336,3851,5301,167

5,912659638105533

1237,0866,110

1918130

28(D)

(°)

603

2,5881,9011628126752

1,457660(D)(D)688168(D)413385(D)

(D)17224

348399315(D)54(D)

280631406233173

1,2042650322276122292

41193444595497

975148117710

1986

9,8149,649165

63315,498

7,688638

-1396,9101,6431,261

6,271695722147575

1657,5236,477

201911

-2(D)

(°)667

2,5581,929170(°)(D)6857

1,466(D)0(D)(D)629(D)10(D)5135(D)(D)33018243

377(°)104(D)(D)54(D)

303690508311197

1,3532755322616223323

46410847511058121

1,046151122773

1987

10,75110,610

141

64416,696

8,499704

-1687,6261,7931,332

6,966755111123655

1418,3577,229

242316

3(D)

(°)

743

2,7082,024172(D)(D)7864

1,557(D)0(D)(D)684(D)14(D)5137(D)(D)39221283

447(D)139(D)(D)61(D)

336767637397239

1,5633262333137327363

52613354571162142

1,128162128838

District of Columbia

1985

11,06511,065

62317,756

19,2541,338

-10,9936,9231,6842,458

17,2211,099934

934

19,25410,514

1673

16332(D)31(D)

(°)350

52444421113

3951391(°)(D)8011(°)2711(D)(D)523

90982234(D)552(D)

301753

1,063425638

6,41422278105

1,12849194320850

1,4916011635

878762

8,7416,899481

1,361

1986

11,80311,803

62518,876

20,3131,436

-11,3847,4931,7592,551

18,1321,1321,049

1,049

20,31311,451

1774

1732(D)0(D)

(°)

401

575461200(")2

4171370(D)(D)114(D)1(D)210(D)(D)4623

927(D)26(D)(D)547(°)

311797

1,180466713

7,08124185105

1,25454195023936

1,7106071725

942878

8,8626,899512

1,451

1987

12,72212,722

62220,457

21,9731,523

-12,3608,0891,8882,745

19,5841,2751,114

1,114

21,97312,557

1975

1928(D)7(D)

(°)

438

622501200(D)2

4551660(D)(D)121(D)2(D)211(D)(D)4644

959(D)26(D)(D)556(D)

311843

1,284500785

7,89526487104

1,41557175527

1,0421,9696872027

999962

9,4167,293535

1,587

Maryland

1985

70,17569,854

321

4,39115,980

45,6702,9566,91549,62911,0589,488

38,5703,2873,814249

3,565

32145,34934,990

1941732116732116o19

3,564

6,0962,35359119176247671398300

20219

3,7437571663228548

1,3213052112106746

2,871247695142291855640

2,7895,1652,692931

1,761

11,453214491217

3,23741021622833

3,1126795022962

3981,419

10,3594,416948

4,995

1986

75,55075,184366

4,46116,934

49,5573,2177,24953,58911,91510,046

41,7643,5094,284295

3,989

36649,19138,338

223190343829

-14o23

4,113

6,1402,482626(D)

168262703431(D)

022119

3,6597672539260541

1,3642472272008449

2,989219752139377827675

3,0205,6633,1361,09.72,040

13,014251540219

3,80546323825836

3,3677965403412

4261,733

10,8534,4031,0005,450

1987

82,19081,819

371

4,53518,124

54,3093,5037,91958,72512,84710,618

45,8033,8424,663297

4,367

37153,93842,391

26622839723013030

4,751

6,2652,552643(D)159256764439(D)0

21720

3,7138465473266529

1,39331822620210253

3,249194837135433929721

3,2606,3023,5671,2092,358

14,657284582222

4,43351425028938

3,8829146013653

4581,821

11,5474,662

. 1,0325,853

Line

123

45

67891011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 36: SCB_081988

34 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Personal Income by[Millions

Line

123

45

6789

1011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

TJ.

Income by Place of Residence

Total personal income (lines 6-11)Nonfarm personal incomeFarm income (line 17) 1

Population (thousands) 2

Per capita personal income (dollars)

Derivation of Total Personal Income

Earnings by place of work (line 12-16 or 17-84)Less: Personal contributions for social insurance 3

Plus' Adjustment for residence 4

Equals: Net earnings by place of residencePlus: Dividends, interest, and rent5

Plus: Transfer payments

Earnings by Place of Work

Components of earnings:Wages and salariesOther labor incomeProprietors' income 6

FarmNonfarm 6

Earnings by Industry

FarmNonfarm

Private . ...Agricultural services, forestry fisheries and other 7

Agricultural servicesForestry, fisheries, and other 7

MiningCoal miningOil and gas extractionMetal miningNonmetallic minerals, except fuels

Construction

ManufacturingNondurable goods

Food and kindred productsTextile mill products. .Apparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal products ,Tobacco manufacturesRubber and miscellaneous plastics productsLeather and leather products

Durable goodsLumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipment ....Transportation equipment excluding motor vehiclesMotor vehicles and equipment.Stone, clay, and glass productsInstruments and related products ,Miscellaneous manufacturing industries >

Transportation and public utilitiesRailroad transportationTrucking and warehousingWater transportationOther transportation 8

CommunicationElectric, gas, and sanitary services

Wholesale tradeRetail tradeFinance, insurance, and real estate

Banking and credit agenciesOther finance, insurance, and real estate 9

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness servicesAuto repair, services, and garagesMiscellaneous repair servicesAmusement and recreation servicesMotion picturesHealth servicesLegal servicesEducational servicesSocial servicesMuseums, botanical, zoological gardens ...Membership organizationsMiscellaneous services

Government and government enterprisesFederal, civilianMilitaryState and local

New Jersey

1985

33,40333,131. 272

7,56817,626

87,8575,639

11,56593,78224,06015,561

72,9537,0047,901

2057,695

27287,58575,497

29027120

322(D)

257(D)60

5,365

20,61910,9471,476

346720897

1,6424,388

52812

86079

9,672154260638

1,3961,8002,703

162353683

1,039483

7,47791

1,989616

1,1642,4471,170

7,6398,1745,0051,5043,501

20,6061,308

761220

6,770722386405

685,3111,304

674385

5609

1,678

12,0882,321

5519,217

1986

43,297143,028

269

7,62518,793

95,4096,254

12,420101,57625,31616,405

79,1857,3668,858

2048,654

26995,14082,284

3192883143(D)

-31(D)69

6,084

21,22811,3141,589

345740870

1,7244,561

53211

86577

9,914172275658

1,4331,8222,782

161296717

1,105494

8,08796

2,130649

1,2942,6681,251

8,3099,0845,9911,7894,201

23,1391,389

844220

7,66382243746675

5,8611,498

706440

5661

2,051

12,8562,303

5659,988

1987

56,14555,851

295

7,67220,352

104,9606,874

13,55411,63927,27617,231

87,1867,9419,833

2279,606

295104,66590,701

38134734

116(D)31(D)80

6,970

22,02711,8461,646

375752878

1,8564,820

54010

89177

10,181195266660

1,3981,8192,871

188368737

1,157523

8,645106

2,377588

1,4172,8661,292

9,21410,0687,1592,0605,100

26,1221,527

921221

8,65091048251179

6,6991,802

766484

6725

2,340

13,9642,400

60810,956

New York

1985

280,397279,824

573

17,76215,786

210,57614,143

-13,778182,65651,16046,581

174,86315,49220,221

32919,893

573210,003179,110

597423175875

769951

11810,134

38,32515,7732,321

6142,5231,2404,7702,308

898132675293

22,551295428

1,0031,8595,3184,5051,4431,411

9234,3461,021

15,160634

2,062605

4,0155,4102,434

15,56116,33326,6328,213

18,419

55,4931,0731,716

91412,7551,329

6731,5311,075

14,4256,3823,5032,254

1501,9085,804

30,8944,429

72525,739

1986

99,324298,704

621

17,79516,821

227,78915,551

-14,77997,45952,37949,486

188,88516,21522,689

37822,311

621227,168193,631

628440188224

74744

12611,582

38,78815,9122,337

6132,5091,2355,0222,348

728112719290

22,876319465971

1,8605,2824,6321,4931,384

9854,4381,047

15,285630

2,193530

4,2055,1672,560

16,27317,82630,9629,256

21,706

62,0631,1411,844

90914,3601,418

7091,7731,051

15,4847,5613,7762,588

1691,9667,313

33,5374,437

76628,334

1987

320,930320,211

719

17,82518,004

246,11516,678

-16,072213,36556,10351,462

204,40816,99224,715

46324,252

719245,396209,007

699490209361

717643

13612,699

39,09816,5252,392

6232,5781,3115,4712,387

60477

791290

22,573356499895

1,8734,9724,7261,5011,2761,0254,3541,095

15,773645

2,406467

4,3635,1972,696

17,18019,16535,42410,09025,334

68,6071,2501,980

91215,6881,600

7421,9881,180

17,2268,6854,0932,850

1832,0948,135

36,3894,655

87030,864

Pennsylvania

1985

61,02960,121

908

11,86413,573

11,6417,381

8604,34627,64829,034

90,1229,421

12,099683

11,416

908110,73395,994

345321

241,7531,136

4913

1236,460

29,46110,8842,122

5311,3441,2061,7792,141

68641

869165

18,577496428

3,7302,5033,4212,8241,314

9041,3791,037

542

7,977760

2,219195981

1,6822,140

6,77010,6696,2322,3543,878

26,328566

1,180265

4,5041,187

43954568

9,5801,8722,063

80028

9512,281

14,7393,777

61310,349

1986

69,85768,897

960

11,89414,281

18,0008,020

6210,04129,14030,676

94,9499,765

13,286735

12,551

960117,040101,836

359337

221,3291,075

1072

1447,363

29,37711,1512,196

5571,2631,2701,9192,229

59940

917162

18,226591443

3,3122,5723,2712,7741,389

8401,4081,039

589

8,362745

2,304177

1,1241,7392,273

7,18811,5747,0942,6034,491

29,191597

1,281264

5,0801,308

46758272

10,3622,1022,182

93930

1,0142,911

15,2043,718

62810,858

1987

81,56580,464

1,101

11,93615,212

27,2248,601

6118,68431,09731,784

102,38010,41114,433

86213,571

1,101126,124109,862

404378

271,3511,026

1642

1588,248

30,36411,6262,307

5971,2441,3242,0372,327

59326

1,003168

18,739682480

3,3602,6663,3432,7791,426

8921,4591,034

619

8,806724

2,494181

1,1971,8122,398

7,71312,3598,0522,8215,231

32,564643

1,379265

5,6851,423

49462676

11,7162,4412,3801,065

331,0803,259

16,2623,976

63911,647

Great Lakes

1985

570,503565,008

5,495

41,64213,700

415 08726,757

1,521389,85194,71185,941

341,28235,45738,3484,441

33,908

5,495409,591355,592

1,2541,195

593,6451,4861,575

105480

20,935

131,43936,0017,816

3011,4584,4976,9757,2431,184

176,138

37295,438

1,6782,074

10,98314,30819,17710,9194,490

24,3373,4932,5481,431

27,6932,5148,605

2793,6726,4956,128

26,77737,94922,5808,042

14,538

83,3201,3864,127

90317,1223,3601,3961,698

38528,6046,2083,3192,307

1173,8038,586

53,9998,9282,299

42,772

1986

502,131596,266

5,865

41,72214,432

439,62128,735

1,510412,39798,89390,841

360,60336,93242,0854,829

37,257

5,865433,756376,266

1,2181,179

392,4441,385

411115532

22,868

134,05137,5168,051

3061,5394,7707,2747,5971,236

156,369

35896,536

1,8312,181

10,60214,53619,04111,0204,825

24,8333,5552,6221,490

29,0422,4328,908

2754,2986,7436,386

28,14840,60225,1568,785

16,371

92,7371,4544,441

89819,6083,6331,5281,905

39930,7167;0003,4452,537

1294,030

11,013

57,4919,0422,417

46,032

1987

537,451531,200

6,251

41,90415,212

466,29830,356

1,645437,587104,86195,003

382,60538,50345,1905,171

40,020

6,251460,047399,378

1,3801,332

482,5641,300

587122555

25,052

136,10139,3598,344

3141,5224,9717,7328,0211,291

156,772

37796,7422,0682,399

10,69214,40419,06211,0464,845

24,2353,6822,7281,581

30,6152,2939,673

2904,6816,9366,741

30,12143,41428,0839,495

18,587

102,0481,5454,743

90421,7713,8651,5742,020

39634,0778,0243,7682,820

1464,278

12,117

60,6699,5792,572

48,518

Illinois

1985

69,92168,181

1,740

11,53814,728

23,9167,829

9116,17830,25923,484

100,6609,823

13,4321,502

11,930

1,740122,175106,252

383368

161,360

688493

1178

7,033

28,41610,5712,678

55281841

2,9212,074

42014

1,20484

17,845221402

1,9793,3194,8413,405

653788724

1,003509

9,769932

2,50288

2,0342,3691,844

10,04011,2369,7543,0416,712

28,261473

1,273277

7,3561,048

430485196

8,0612,6031,303

65354

1,3022,748

15,9242,919

95812,046

1986

79,07677,369

1,706

11,55115,503

31,5028,415-17

23,07031,43424,572

06,65010,27914,5731,471

13,102

1,706129,795112,774

37135715

941649102

0189

7,584

28,63310,8962,752

62289894

2,9722,145

45312

1,23582

17,737217393

1,9373,4034,6323,367

675861708976568

10,293917

2,56386

2,3352,4881,904

10,50411,98510,7703,3447,426

31,692490

1,402275

8,5491,155

490556205

8,6312,9911,334

74061

1,3963,419

17,0213,0201,031

12,970

1987

90,43088,742

1,688

11,58216,442

40,3738,959

-231,41333,41325,605

14,02010,83315,5201,442

14,077

1,68838,68520,778

42640918

939597146

1195

8,311

29,39711,3882,817

64281945

3,1382,261

47212

1,31683

18,010243431

1,9073,4284,7133,434

652878736976612

10,891901

2,85587

2,4752,5861,987

11,20912,96012,0983,6228,477

34,547512

1,483277

9,4181,221

477592201

9,3523,4431,458

82469

1,4963,723

17,9073,2021,069

13,636

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 37: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 35

Major Sources, 1985-87—Continuedof dollars]

Indiana

1985

68,37867,568810

5,50012,433

49,8372,921745

47,66111,0949,624

40,6674,2804,890643

4,248

81049,02642,712

1361333

480299111069

2,803

17,7274,25786314132310724

1,1111871

88629

13,470415399

2,7851,3991,8962,6301,0101,915493309219

3,544385

1,32130268725814

2,6824,7562,195857

1,338

8,390185551105

1,17446619016229

3,3955233742458

417564

6,3141,175286

4,853

1986

72,21771,279

938

5,50313,124

52,7583,139753

50,37211,58310,262

42,8494,4205,490776

4,714

93851,82045,103

1231203

3482618079

3,098

18,0364,42185515130325773

1,1661791

94929

13,614468424

2,6061,4071,8442,6341,0212,104524367215

3,755364

1,43731325755843

2,8605,0922,456943

1,513

9,336195602105

1,37751621818929

3,6385883992699

432768

6,7171,196316

5,205

1987

76,96175,988

973

5,53113,914

56,5863,357791

54,02112,32310,617

46,0364,6645,887809

5,078

97355,61348,399

1431404

36325523085

3,366

18,8634,75989118141345829

1,2821791

1,04034

14,105524442

2,6341,4681,9292,5771,0642,272557409229

4,029338

1,59947358797890

3,0535,4952,7171,0111,706

10,370216645106

1,56455621220528

4,11366142930610453862

7,2141,260356

5,597

Michigan

1985

127,264126,591

673

9,08514,008

93,6046,103703

88,20419,57119,488

78,0429,0526,510485

6,025

67392,93280,781

238218194831

3208875

3,895

36,7526,2361,213

55681649916

1,544960

1,03053

30,517263762

1,8724,0214,4681,053664

16,293554381186

5,023357

1,46935542

1,2371,383

5,0028,0613,6251,5622,063

17,703262796178

3,568733352347101

6,0931,15844449814819

2,341

12,1501,581335

10,234

1986

135,320134,635

685

9,13914,807

99,8886,620610

93,87920,67620,766

83,2369,5197,133499

6,634

68599,20386,089

243234102821989984

4,428

37,9306,5361,233

45748724948

1,6351300

1,02549

31,394274823

1,9024,0544,5751,157716

16,720573405193

5,286352

1,51936696

1,2561,427

5,4008,7274,0951,7062,388

19,698305842178

4,032781365395103

6,5711,28344854716873

2,960

13,1141,583353

11,179

1987

141,618140,866

751

9,20015,393

104,1306,873672

97,92921,80621,882

86,7209,7577,654554

7,099

751103,37989,727

271259123401

14810686

4,785

37,1416,8031,294

45725726998

1,6991370

1,12355

30,338314953

1,8833,9534,2891,163755

15,783628420197

5,642358

1,57834847

1,2841,540

5,8769,3664,5891,8702,720

21,719334901179

4,466815384412103

7,3821,48049560518926

3,219

13,6521,682374

11,595

Ohio

1985

142,033141,054

979

10,74513,219

103,7167,136-83695,74522,77523,514

86,3428,7488,626811

7,816

979102,73789,460

3022975

1,1674995469

1135,020

34,7749,9521,64198268

1,0971,5952,1774672

2,53373

24,822330319

3,8294,1904,9682,5091,9874,2811,524580306

6,551621

2,221107548

1,5921,462

6,5229,7554,7521,7702,982

20,617301

1,047249

3,39877029250444

7,8371,38886261536904

2,370

13,2772,530526

10,221

1986

148,929148,051

877

10,74813,857

108,6017,575-780

100,24623,74724,936

90,3349,0099,258712

8,546

877107,72493,805

3002972

8264742129

1315,291

35,24210,3871,720108269

1,1511,6952,2904602

2,62172

24,855374336

3,6314,2174,8922,5432,2044,2151,533595313

6,766606

2,231106620

1,6501,553

6,75710,3845,3441,9333,410

22,896300

1,102247

3,80181931255445

8,4241,55391566939945

3,171

13,9192,517508

10,894

1987

157,580156,608

971

10,78414,612

115,0277,978-816

106,23425,17226,174

95,7409,3239,964799

9,165

971114,05699,195

3363323

8494462578

1385,887

35,69110,7991,774106260

1,1851,7992,4064892

2,70472

24,892423348

3,7254,0614,8892,5422,1644,2601,521618341

7,011535

2,388106669

1,6751,637

7,14510,9325,9452,0903,855

25,400305

1,185248

4,28388235058548

9,4251,7741,01073444991

3,536

14,8612,658533

11,670

Wisconsin

1985

62,90661,6131,293

4,77513,174

44,0142,769817

42,06311,0129,832

35,5713,5534,8901,0013,889

1,29342,72136,388

195179161561

103745

2,185

13,7694,9851,4218096

1,600819337140

486133

8,784449191518

1,3793,0031,322176

1,060198275211

2,807218

1,09319281573624

2,5314,1422,254812

1,442

8,34916645994

1,62734313220016

3,2175363362964

360563

6,333722194

5,417

1986

66,59064,9321,658

4,78313,923

46,8722,985943

44,83011,45410,306

37,5343,7065,6321,3714,261

1,65845,21438,494

1811729481

-9749

2,466

14,2115,2761,491

76104

1,677887361140

540127

8,936498205527

1,4553,0971,319208933216278201

2,942194

1,15817321595657

2,6274,4132,491859

1,633

9,11516449393

1,84936214321115

3,4535853503115

385695

6,720725209

5,786

1987

70,86268,9951,867

4,80714,742

50,1813,189998

47,99112,14710,724

40,0903,9256,1661,5664,600

1,86748,31441,279

2041931273112

. 752

2,704

15,0095,6121,568

81115

1,770967373150

589133

9,397564225544

1,4953,2411,329210

1,043240303202

3,043162

1,25216332595686

2,8394,6622,733903

1,830

10,01217852894

2,04039215122515

3,8056653753515

411111

7,035776240

6,020

Plains

1985

232,873224,1578,716

17,55113,269

167,65010,604-1,516155,53043,53933,804

130,23812,41524,9977,59017,408

8,716158,934133,403

72969632

1,742195968335244

9,830

35,12513,7034,820

79513

1,8382,8791,8232770

1,163310

21,422751481962

2,6835,9173,0192,6232,233902

1,373478

14,3812,1254,365134

2,2243,0362,498

12,10116,4659,7853,5926,192

33,245750

2,017413

6,4191,716652701145

11,6292,3601,3871,089

311,3632,574

25,5314,8541,97518,701

1986

245,931235,19410,737

17,56913,998

178,02611,336-1,566165,12345,05935,749

136,35312,94028,7349,64419,090

10,737167,289140,509

63260131

1,114179392284259

10,780

36,25214,3225,054

81515

1,9333,0411,8982841

1,218297

21,930849517978

2,6855,7023,0022,9032,299932

1,572490

14,7072,0074,575109

2,3403,1042,572

12,33717,24810,8853,8817,004

36,554740

2,212411

7,2041,895743783150

12,3672,6501,4731,181

371,4353,273

26,7814,8892,08619,805

1987

260,850249,28411,566

17,63414,792

189,57912,048-1,678175,85347,58837,409

145,08513,65030,84510,44320,402

11,566178,013149,544

71367737

1,127169399278281

11,472

37,79015,0515,272

84540

2,0123,2321,9852910

1,324310

22,738984571

1,0082,7585,9843,0633,1982,124985

1,587476

15,2611,8964,925105

2,5033,2142,618

13,21218,18111,8864,0387,848

39,903771

2,348413

7,8891,993779832155

13,7242,9881,5961,274

401,5053,595

28,4695,2112,26620,992

Iowa

1985

36,20834,1442,064

2,88012,570

24,3631,469295

23,1907,5065,512

17,7531,7054,9061,7993,106

2,06422,30018,619

1611574

102652044

1,172

5,4062,0561,009

136410837319850

27510

3,350106105259397

1,3935352021411070142

1,670222691585323346

1,7112,3531,390526865

4,6548429570919243926812

1,6513702231452

195285

3,68151863

3,099

1986

37,99935,2652,734

2,85013,335

25,8611,544271

24,5897,6345,777

18,2631,7565,8422,4803,362

2,73423,12719,300

1181153466

-4044

1,233

5,4472,1191,023

156512639819450

28110

3,329124110264405

1,2625982222612071128

1,7122127186

109318349

1,7072,4451,493546947

5,0998032169

1,0422651078013

1,7434162371562

205364

3,82752971

3,227

1987

40,34837,4572,891

2,83414,236

27,6961,660268

26,3058,0356,009

19,5971,8746,2252,6353,590

2,89124,80520,733

13513246456053

1,298

5,9632,2701,130

146611642319250

31410

3,693143124257429

1,4276712724916684117

1,779199790- 7113319351

1,7942,5601,603562

1,040

5,5368633868

1,1302791088313

1,9394562551652

216395

4,07356479

3,429

Kansas

1985

33,85532,5601,294

2,44913,826

23,5211,434832

22,9196,3294,607

18,0581,7303,7331,1342,599

1,29422,22618,247

95931

51916476027

1,397

4,5771,687621345963602421180

1993

2,890642674256455205

1,1803311907435

2,0704646300

186391399

1,6942,2711,235485751

4,38965300649262531386510

1,5092701021052

163417

3,979687592

2,701

1986

35,66734,0691,598

2,45914,503

25,043-1,537758

24,2646,5144,890

18,9301,8084,3051,4422,863

1,59823,44519,216

84822

33613294029

1,546

4,8491,792662447983832641240

2073

3,057632577262474205

1,3602951936935

2,1314396631

219401409

1,7352,3841,347518829

4,8046132963

1,0292751547311

1,5883001071132

169530

4,229705626

2,899

1987

37,45035,7401,710

2,47615,126

26,2521,611846

25,4876,8275,135

19,8281,8914,5341,5492,984

1,71024,54220,120

95932

30514262029

1,631

4,9611,8676826481033992801270

2212

3,095722579270487205

1,4132461887436

2,1854186961

215432423

1,8132,4791,480546934

5,1715734164

1,1072861647410

1,7493321171232

174570

4,422744668

3,011

Line

123

45

67891011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 38: SCB_081988

36 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Personal Income by[Millions

Line

123

45

6789

1011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Income by Place of Residence

Total personal income (lines 6-11)Nonfarm personal incomeFarm income (line 17) 1

Population (thousands) 23er capita personal income (dollars)

Derivation of Total Personal Income

Earnings by place of work (line 12-16 or 17-84)Less' Personal contributions for social insurance 3

Plus' Adjustment for residence 4

Equals' Net earnings by place of residencePlus' Dividends interest and rent 5Plus' Transfer payments

Earnings by Place of Work

Components of earnings:Wages and salariesOther labor incomeProprietors' income 6

FarmNonfarm 6

Earnings by Industry

FarmNonfarm ,

PrivateAgricultural services, forestry, fisheries, and other 7

Agricultural servicesForestry, fisheries, and other 7

MiningCoal miningOil and gas extractionMetal mining.. . . . .Nonmetallic minerals, except fuels

Construction

Manufacturing.Nondurable goods ..

Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsTobacco manufactures ,Rubber and miscellaneous plastics products ,Leather and leather products

Durable goodsLumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal products ,Machinery, except electrical ,Electric and electronic equipment ,Transportation equipment excluding motor vehicles ,Motor vehicles and equipmentStone clay, and glass productsInstruments and related productsMiscellaneous manufacturing industries

Transportation and public utilities . ....Railroad transportationTrucking and warehousing ,Water transportationOther transportation 8

CommunicationElectric, gas, and sanitary services

Wholesale tradeRetail trade . . . . .

Banking and credit agenciesOther finance, insurance, and real estate 9

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness servicesAuto repair, services, and garagesMiscellaneous repair servicesAmusement and recreation servicesMotion picturesHealth servicesLegal services

Social servicesMuseums, botanical, zoological gardensMembership organizationsMiscellaneous services

Government and government enterprisesFederal civilianMilitaryState and local

Minnesota

1985

59,28957,7831,505

4,19014,149

44,2013,053

23240,91610,0308,343

35,7503,4844,9671,2853,682

1,50542,69536,508

16415311

3770

10822048

2,636

10,6454,0631,128

3942

1,25296925571

026640

6,583352100174

1,0752,829

67873

165213796128

3,370345927

34855638570

3,2954,3482,766

9211,845

8,90721955076

1,64144415222435

3,047669352438

16370672

6,187865114

5,209

1986

63,17361,1402,033

4,21314,995

47,3403,285

23243,82310,5678,783

37,8233,6595,8581,8164,042

2,03345,30738,742

15414410

2320

1117051

2,961

11,0334,2661,194

4046

1,3031,015

27272

0287

376,767

407115185

1,0442,718

65383

207215990150

3,43633995625

890628597

3,4324,5603,1271,0152,112

9,80621861176

1,83848817025637

3,264757367471

20393840

6,565876128

5,560

1987

67,62465,4902,134

4,24615,927

50,9573,525

26047,17211,2639,188

40,7803,9156,2631,9074,356

2,13448,82341,820

17416113

2410

2416651

3,297

11,6494,5661,259

4146

1,3741,113

293810

32337

7,083490125207

1,0852,797

704123205231970145

3,638327

1,01225

995650628

3,6824,8943,4431,0372,406

10,80322965977

2,076511181275

403,608

85539751021

415950

7,004944143

5,916

Missouri

1985

66,72965,934

795

5,03413,256

49,2573,0161962

44,27812,4919,960

39,7433,8565,658

6435,015

79548,46241,645

16415311

3631061256072

3,133

11,5574,4621,225

13317338936

1,045590

276253

7,095162205398754807

1,3241,2811,432

291310130

4,724447

1,30795

9681,146

762

3,5274,8912,8271,0361,792

10,458258551134

2,254509156264

763,500

731528248

8401839

6,8171,894

4634,460

1986

70,61869,826

792

5,06413,946

52,1563,2481,935

46,97313,08410,561

41,9004,0566,200

6445,556

79251,36544,253

15614610

225100-75479

3,526

11,9084,6411,306

10313358989

1,081620

282240

7,267181218396776813

1,2731,3751,478

306315135

4,872410

1,37976

9731,228

807

3,5965,1983,2341,1482,086

11,537258602134

2,52957117828278

3,743819574270

c425

1,065

7,1121,866

4894,758

1987

74,94573,998

947

5,10314,687

55,5423,436

-2,08550,02113,85811,066

44,4994,2366,808

7976,011

94754,59546,950

17916812

25094164892

3,675

12,0964,8201,349

11329366

1,0291,133

600

290252

7,277198243405762821

1,1981,5721,315

307321134

5,064374

1,47571

1,0201,279

845

3,9625,4843,5741,2162,358

12,666272643136

2,74260918830580

4,19595162728511

4481,174

7,6451,987

5445,114

Nebraska

1985

20,82919,1271,702

1,60412,982

15,293962

-29214,0393,9562,834

11,148990

3,1551,5131,643

1,70213,59110,908

82802

773

511

23856

2,0771,013

5873

2238

1637570

1164

1,064333851

1622812275362578516

1,575533451

173

363153

1,0631,4441,009

337671

2,72661

17338

47316367468

960209115&

115213

2,684427356

1,901

1986

21,68319,7441,939

1,59813,572

16,0351,020-278

14,7373,9512,995

11,4841,0033,5481,7581,790

1,93914,09711,316

7068

2413

141

24855

2,1061,054

5962

2543

17677

40

1247

1,051324048

155285223

4464588615

1,583501491

184

359147

1,0651,4911,096

353743

3,00962

18938

54518180538

1,015237119

8*

118271

2,780434375

1,971

1987

22,84520,7282,117

1,59414,328

16,9391,074-286

15,5794,1423,124

12,0561,0503,8331,9331,899

2,11714,82211,887

75733

473

181

24882

2,1791,080

5912

2746

1887830

1368

1,098344452

1622912324575599114

1,596476554

194

364108

1,1311,5501,171

366805

3,25765

19838

59418882558

1,128262125

9*

12<289

2,934458398

2,078

North Dakota

1985

8,1637,474

689

68511,921

5,712339

-1695,2031,6991,261

4,149332

1,230620610

6895,0223,854

26260

21764

1430

10356

33118091931

393

160

170

15155

-016685

14131717

54383

1430

3195

190

462573264129135

1,08232771597482215

5185325330

6281

1,168214247708

1986

8,4417,658

783

67912,440

5,852349

-1595,3441,7111,385

4,160325

1,368714654

7835,0693,862

23220

15057830

11352

3351869293

(D)403

170

20(D)

149660

16626

16111618

53882

1450

3492

185

454573277135143

1,159308314

101532517

5455926380

65101

1,207224247736

1987

8,7387,958

780

67213,004

6,031366

-1605,5051,7791,454

4,309332

1,390705685

7805,2514,000

24240

1335269

011

367

3481889594

(D)40

4160

19(D)

160760

19677

15141529

55083

1580

3390

186

465586290140150

1,236298814

109562617

587632742

67108

1,252240258753

South Dakota

1985

7,8017,134

666

70811,017

5,30333112

4,9841,5291,287

3,637319

1,348595753

6664,6373,622

36333

871

135421

279

532242158

0205

38500

151

29030

g

62383453

16243819

43030

2150

268178

349585293159134

1,031317016

109562511

44<5641370

5767

1,015251140624

1986

8,3517,493

858

70811,803

5,738353

95,3931,5991,359

3,792333

1,612789823

8584,8803,820

28243

8312

5822

306

574264179

017(D)40600

16(D)

3103637

2788443

18244020

43524

2240

317877

347597310165145

1,140317716

121622921

4696344450

60102

1,060256150654

1987

8,9007,913

988

70912,550

6,162377-2

5,7841,6841,433

4,017352

1,794917877

9885,1744,036

31274

8714

6221

323

593261166

120(D)42700

20(D)

3324138

319446

421194422

45019

2400

338078

366627326170155

1,234338116

131653023

2516

6947490

62110

1,139273175691

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 39: SCB_081988

August 1988

Major Sources, 1985-87—Continuedof dollars]

SURVEY OF CURRENT BUSINESS 37

Southeast

1985

681,058672,1378,921

56,54912,044

482,57728,2453,430

457,762114,360108,936

395,97436,43050,1737,07143,103

8,921473,656385,7172,4291,996433

10,0204,3684,588

74990

33,197

99,52949,3777,5549,0485,3415,5425,1308,9971,1891,9784,172426

50,1514,7593,3724,1885,7048,0169,2165,7753,2583,4171,3861,061

37,0893,1939,5841,5566,3549,1117,290

30,33551,58625,7369,98015,756

95,7963,6914,9362,79917,4404,3411,9272,410293

30,2937,1613,3542,083

433,76311,262

87,94020,00314,30153,636

1986

726,825717,7089,117

57,28812,687

515,92530,5483,410

488,788122,180115,857

422,13438,57855,2137,28447,929

9,117506,809413,6832,4742,027448

7,7394,1392,498

641,03836,258

104,45852,1618,0489,8235,5655,8665,6279,2261,2241,9964,388397

52,2975,1073,5674,2545,8748,1609,3926,2173,4443,6571,4901,135

38,4922,97410,1221,4177,1189,2107,651

31,73255,47529,16711,17017,996

107,8893,9795,3842,82019,8944,7202,1312,703315

33,0048,1803,5892,336

783,97514,780

93,12620,05314,97258,101

1987

783,155772,21010,945

58,02213,497

559,06832,8963,637

529,810131,065122,280

456,73841,31961,0119,01351,998

10,945548,123448,4282,8052,327477

7,6444,0112,472

701,09138,277

110,48755,4318,49510,7315,7976,1566,0869,5161,2592,1474,840406

55,0565,4663,8724,3996,0228,5469,7986,7073,5813,8381,6071,221

41,2212,75411,1521,3867,9409,8848,104

34,21159,70532,50112,14820,353

121,5774,3085,8242,86422,6435,1522,2882,975341

38,1359,5793,9522,613

864,23616,580

99,69621,40215,62462,670

Alabama

1985

43,03842,391

647

4,02010,705

31,1761,970517

29,7225,6077,708

25,5252,4463,204558

2,646

64730,52824,125

133844958843396158

1,761

7,8323,668498601616782246391516

4751

4,16554115281650146351645933521064108

2,2292296557397559615

1,7792,9421,429580849

5,430107263184870279109839

1,8643941681160

217765

6,4041,825752

3,827

1986

45,73645,000

736

4,05011,293

33,2402,031521

31,7295,9638,044

27,0392,5883,613648

2,965

73632,50325,830

121843848138336(D)(°)

1,892

8,1843,873536666648808268391(°)(D)494(D)

4,3115521658145124935434923532216898

2,26121567468111548645

1,8563,1881,588653935

6,259116281185

1,0912931168411

2,0284461741250

2261,083

6,6731,784773

4,116

1987

48,75347,901852

4,08311,940

35,6562,170556

34,0436,3358,375

28,9642,7623,931759

3,172

85234,80427,753

130933746536242(")(D)

1,989

8,6744,151574734696822284408(°)(D)561(°)

4,5236041798225185425725243462427499

2,40719673065123607687

1,9533,3731,698687

1,011

7,065124303186

1,2663041249811

2,3435141911360

2361,227

7,0511,941832

4,278

Arkansas

1985

24,82523,7381,086

2,35910,523

17,2271,087-66

16,0753,9804,769

13,0691,3112,848924

1,924

1,08616,14113,418

8168141781

1391028

1,044

4,1571,86665338113373182169380

22576

2,29237114920232735447076881069555

1,438204547673284324

8941,868818322496

2,939792196743619265516

1,15818269960

129189

2,723536269

1,917

1986

26,13525,0671,068

2,37111,025

18,2431,170-10616,9664,1395,029

13,8311,3603,051908

2,143

1,06817,17514,297

736310122283(D)(D)

1,167

4,3711,995743(D)122394193164(D)0

23869

2,376390159185332381479859510610561

1,504198610688267335

9141,959913347566

3,275852436750821474587

1,246206741040

132257

2,878543280

2,054

1987

27,48126,2971,184

2,38811,507

19,2421,235-10617,9014,3355,245

14,5381,4333,2711,0162,254

1,18418,05815,084

847212116177(°)(D)

1,148

4,6432,138807(°)123429215168(°)0

25070

2,50541917420233938949810110810410665

1,592195694691263343

9522,031941358583

3,576862536855122272619

1,418229811161

136274

2,974573292

2,109

Florida

1985

158,315156,2222,093

11,37313,921

98,4805,565-58

92,85739,27126,187

81,0127,15810,3111,5968,715

2,09396,38780,708

8757711047995

55514225

8,158

12,0024,2841,041

35365448

1,196774553430133

7,718499222130789

1,2822,0041,677

93549305167

7,437330

1,359300

1,8872,3431,218

6,26612,4577,2232,5424,681

25,4901,3231,015659

4,1081,035450

1,13381

7,9102,1786785429

9163,452

15,6802,8802,21610,583

1986

170,994168,8152,179

11,69414,622

106,8896,138-47

100,70542,24528,044

87,9277,73211,2311,6879,544

2,179104,71187,736

9177991181945

-4313219

8,752

12,6744,4841,095

41385450

1,313765623231130

8,191527243135828

1,2982,0761,862111600330181

7,740317

1,443294

2,0642,3241,298

6,62813,6208,2862,9205,366

28,9241,4951,099673

4,6381,115505

1,25789

8,6242,49572062310985

4,595

16,9752,9332,40711,635

1987

187,365184,9262,439

12,02315,584

118,3546,766-62

111,52645,76230,077

97,3748,41412,5661,92310,643

2,439115,91497,1861,05091613431057914212

9,190

13,4464,7451,129

45415468

1,442758623036433

8,701551259144892

1,2972,1862,040129648364191

8,303298

1,609328

2,2542,4171,396

7,38214,9839,4213,2216,200

33,1021,6691,197693

5,3031,233554

1,39599

10,1463,03680772112

1,0695,166

18,7283,1802,51413,034

Georgia

1985

75,37674,424

952

5,97312,618

58,4213,324-14954,94810,36910,058

48,6484,4215,352807

4,546

95257,47047,568

23118447304(D)92(D)211

3,918

12,0616,6751,2481,7968609527275503411037720

5,386651193474452604662916719464132118

5,425436

1,21262

1,5241,344848

5,5186,0493,5281,2112,317

10,533408485316

2,06651217418050

2,8608804111954

4221,569

9,9012,4921,4305,980

1986

82,06980,9661,103

6,10013,454

64,0733,687-19560,19111,17810,700

53,0684,8466,159961

5,198

1,10362,97052,432

23719740225(D)

-10(°)234

4,494

13,0057,1951,3681,952881

1,0268285814111638319

5,810687198495490656767995743513144122

5,767414

1,29367

1,6281,433931

5,7996,5444,1181,4102,708

12,244452534321

2,40256420221256

3,2391,0254412255

4462,121

10,5382,4831,5006,554

1987

88,97787,7471,229

6,22214,300

69,7063,975-20465,52612,06411,386

57,7375,2276,7421,0795,663

1,22968,47757,03426422440271(D)11(D)259

4,569

13,7907,6831,4562,132900

1,0648976014414942021

6,107717211522514690795

1,116733533149128

6,265390

1,43462

1,7841,639956

6,2327,1114,5911,5483,042

13,941475578328

2,76362422823762

3,8581,2004882515

4702,374

11,4432,6271,6267,190

Kentucky

1985

40,16839,261906

3,72810,775

28,3331,573218

26,9776,1277,063

22,2492,3013,783751

3,032

90627,42722,632

1401382

1,7721,583138051

1,540

6,5662,6894679232319836845216828031328

3,87717498575358960784455511897272

2,11736170060153380464

1,4932,9421,206550656

4,8561263161025962669110111

2,0463421571244

204372

4,794988789

3,018

1986

41,98541,226759

3,72611,268

29,5091,675360

28,1946,4147,376

23,1902,3623,957603

3,354

75928,75023,755

1431402

1,6351,519

59057

1,720

6,7012,79447610233421040346317225535326

3,90719398556368941809585252067282

2,17932874161186385478

1,5013,1131,330591739

5,43212735010170929911111611

2,2073901671314

212498

4,995985783

3,227

1987

44,94544,019

926

3,72712,059

31,8891,797337

30,4286,8217,696

24,9692,5274,393762

3,632

92630,96225,615

1591563

1,6371,51662059

1,929

7,1442,98249811736523541847719624739930

4,16221594612408960855695662187589

2,35329578161291413511

1,6063,3251,419622797

6,04313637610180032212512611

2,4854451801475

224557

5,3471,046829

3,472

Louisiana

1985

50,63850,341296

4,48511,291

37,1372,134-34934,6557,7858,198

30,2063,0333,899184

3,715

29636,84130,602

17711068

2,8969

2,794589

3,075

5,2173,0994402796416234

1,1886520442

2,117262121023372782904871371601933

3,413224637764410615765

2,2513,7971,903865

1,038

7,873247390234

1,51129120713217

2,4628753191533

286746

6,239925622

4,692

1986

50,53950,185

354

4,49911,233

36,0862,081-27333,7327,9198,889

29,0222,9164,149242

3,906

35435,73229,419

1759679

2,23711

2,125696

2,705

5,0393,124454(°)91449230

1,156658048(D)

1,91527111823172302404521221401733

3,231198638631417573775

2,1133,7241,989877

1,112

8,207226399233

1,50129719614516

2,5969633331633

297836

6,313928652

4,733

1987

51,17450,684490

4,46111,473

36,2932,096-25133,9468,0739,156

28,9952,9424,355372

3,983

49035,80329,380

17510174

1,99012

1,880692

2,530

5,0713,178449(D)106455234

1,169663055(D)

1,89327910862762242284901171282034

3,198171674552406586807

2,0683,6812,018842

1,175

8,650209400231

1,52429817813316

2,8951,0883651643

312834

6,422984700

4,738

Line

123

45

67891011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 40: SCB_081988

38 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Personal Income by[Millions

Line

123

45

6789

1011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Income by Place of Residence

Total personal income (lines 6-11)Nonfarm personal incomeFarm income (line 17) *

Population (thousands) 2

Per capita personal income (dollars)

Derivation of Total Personal Income

Earnings by place of work (line 12-16 or 17-84)Less: Personal contributions for social insurance 3 ...-.Plus' Adjustment for residence *Equals: Net earnings by place of residencePlus: Dividends, interest, and rent 5Plus: Transfer payments

Earnings by Place of Work

Components of earnings:Wages and salariesOther labor incomeProprietors' income 6

FarmNonfarm 6

Earnings by Industry

FarmNonfarm

PrivateAgricultural services forestry fisheries and other 7

Agricultural services..Forestry fisheries and other 7

MiningCoal miningOil and gas extractionMetal miningNonmetallic minerals except fuels

Construction

ManufacturingNondnrfblp g°ods

Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied products . . .Petroleum and coal productsTobacco manufacturesRubber and miscellaneous plastics products . . ..Leather and leather products

Durable goodsLumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal productsMachinery except electricalElectric and electronic equipmentTransportation equipment excluding motor vehiclesMotor vehicles and equipmentStone, clay, and glass products.Instruments and related products ....Miscellaneous manufacturing industries

Transportation and public utilities . .Railroad transportationTrucking and warehousingWater transportationOther transportation 8 ..Communication . . .Electric, gas, and sanitary services

Wholesale trade. .. .Retail trade . .Finance, insurance, and real estate .

Banking and credit agenciesOther finance, insurance and real estate 9

ServicesHotels and other lodging places .Personal servicesPrivate householdsBusiness servicesAuto repair services and garages <Miscellaneous repair servicesAmusement and recreation servicesMotion picturesHealth servicesLegal servicesEducational servicesSocial servicesMuseums botanical zoological gardensMembership organizationsMiscellaneous services

Government and government enterprisesFederal, civilian . . .MilitaryState and local

Mississippi

1985

24,14323,577

566

2,6139,239

16,769972517

16,3143,0414,787

13,2911,2642,215

4331,781

56616,20412,829

855629

2600

2460

14886

4,2861,673

37198

388230122187940

1767

2,613459310

9725428748844672

1142363

1,16299

3904867

267291

8691,796

749354395

2,73575

14612429015464355

9462107980

0118409

3,375694494

2,187

1986

25,36124,868

493

2,6249,663

17,5251,037

46916,9573,3185,086

13,8421,3262,358

3621,996

49317,03213,487

725121

1810

1650

15906

4,4971,777

381107406257127199940

1997

2,72046833691

26428148050183

1222271

1,17886

4034874

261306

8801,874

831387443

3,06871

1511243301586938

41,012

23684830

118591

3,546691533

2,321

1987

27,01326,210

803

2,62510,292

18,7611,095

49418,1613,4935,359

14,5801,4012,780

6652,115

80317,95814,244

826023

1590

1460

13918

4,7101,849

413113408265134196940

2206

2,86249639310028330046949790

1302578

1,28876

4624985

287328

9101,949

893413480

3,33366

1601243581667037

41,148

2629488

0119635

3,714728555

2,432

North Carolina

1985

73,02971,786

1,243

6,26011,665

56,1193,451-111

52,55710,09010,382

46,1834,1155,8201,0114,810

1,24354,87645,414

22418638

2321

1121

1183,757

16,5949,193

8583,401

994648519

1,08421

913701

547,401

6551,357

278620

1,6201,525

97463437244105

3,865210

1,41329

471829912

3,4675,8332,381

9891,391

9,062252608363

1,68849023816735

2,584510604240

5342935

9,4611,3211,9206,221

1986

78,65477,333

1,321

6,33112,423

60,7393,804-172

56,76310,84111,049

49,8264,4196,4941,0905,404

1,32159,41949,257

23118646

1061

181

1224,227

17,7729,999

9213,7451,045

684568

1,24223

979737

557,773

7481,456

305651

1,6791,495

103494472252118

4,098192

1,47627

562856985

3,6796,3182,7341,1181,616

10,092273678364

1,94853925919544

2,841586657270

6351

1,082

10,1611,3521,9596,850

1987

85,38283,888

1,494

6,41313,314

66,3174,126-202

61,99011,74111,651

54,3944,7527,1721,2505,922

1,49464,82353,954

27522352

1541

131

1404,542

19,04110,8481,0014,1001,072

725605

1,36324

1,079821

568,193

7701,595

306649

1,7831,522

125532497284128

4,498167

1,62726

683939

1,055

4,0846,8423,1461,2801,866

11,372291751369

2,231603283223

443,293

682724307

6364

1,201

10,8681,4182,0097,441

South Carolina

1985

35,78335,550

233

3,33410,734

26,5251,607

44625,3644,7155,704

22,3691,9842,172

1572,016

23326,29320,678

119803987(D)48(D)38

1,861

7,6895,031

2731,921

501504185

1,070139

5514

2,65727881

22933369043110176

26311760

1,669134436

52121372554

1,2602,7061,178

481697

4,10819823318760521499

10311

1,103297149961

168645

5,615967

1,3213,327

1986

38,16237,988

174

3,38111,286

28,3491,749

47427,0745,0456,043

23,9062,0822,360

992,261

17428,17522,145

124873834(D)-6(D)39

2,044

8,0335,274

2892,018

524543198

1,098158

5775

2,75930072

238344719437

9786

27512566

1,69312645153

142383537

1,3162,9291,302

523779

4,670223247188685228105109

101,202

344158113

2174882

6,030973

1,3923,664

1987

41,11040,783

326

3,42512,004

30,7351,878

51929,3765,4096,325

25,8142,2312,690

2472,443

32630,40824,009

141994151(°)5

(D)

452,113

8,6025,612

3132,178

544567217

1,141137

6285

2,99032378

25136578048611111528413067

1,82911549263

175415569

1,4023,1921,411

547864

5,26823826719180625112312111

1,393398174129

2182984

6,4001,0331,4363,931

Tennessee

1985

53,68153,150

531

4,76611,263

40,6962,493

52037,6837,4608,538

32,8353,0844,778

4284,349

53140,16633,929

13312112

285106733572

2,478

10,6955,142

867356709502585

1,3122545

595146

5,552332408460

1,001898806384475379210199

2,872307

1,14830

627605154

2,7914,3272,100

7811,319

8,249329513189

1,54839215618329

3,100452331127

4297599

6,2371,759

3154,163

1986

57,52357,082

440

4,80011,984

43,8442,729

63440,4817,9109,131

35,2593,3125,273

3384,935

44043,40336,828

12210913

210988

3371

2,830

11,2105,331

917382741529644

1,3152740

604132

5,879367419491

1,034920814445541410223215

3,088286

1,22424

778614162

2,9884,6802,391

8521,539

9,310351582189

1,794439183218

283,391

521353140

4313803

6,5751,756

3154,504

1987

62,53361,883

650

4,85512,880

47,9852,959-717

44,3088,5039,722

38,5033,5685,913

5415,372

65047,33540,162

14112714

22690223777

3,113

11,7935,611

961416774581700

1,3363040

636137

6,182409443480

1,044975861492567438231241

3,402264

1,37126

890675176

3,2475,1252,667

9381,729

10,448383645192

1,94448319624430

3,894596382149

5332974

7,1731,930

3344,908

Virginia

1985

82,51182,181

330

5,70114,472

58,4433,2633,216

58,39613,06811,047

49,7124,1374,594

2044,390

33058,11342,870

20517431

828626134

761

4,069

9,9244,944

750671336466677

1,04117

57537834

4,979442373341502422

1,1581,045

2313158169

4,245414835105888

1,282720

3,0735,5712,7611,0761,684

12,196467603319

3,50942720819235

3,16467433626011

5451,445

15,2435,2144,1295,900

1986

89,37288,941

431

5,79515,423

63,8543,6123,278

63,52014,15911,694

54,1414,4675,246

3084,939

43163,42247,344

23519342

653592-11

369

4,842

10,4505,211

781728350495765

1,08019

55640629

5,239497392347517412

1,1791,079

27535411276

4,542399901109

1,0291,337

767

3,3846,1733,1961,2531,943

13,868474662322

4,04247723721835

3,45677937429543

5991,854

16,0785,2224,3276,529

1987

97,51597,001

513

5,90416,517

70,2203,9383,490

69,77115,34012,403

59,5044,8825,833

3845,449

51369,70652,578

27522946

688584253

775,501

11,0485,522

806796354521844

1,13321

58144423

5,526564416364519448

1,2521,100

26038812888

4,852392996120

1,1151,407

823

3,6896,6963,7771,4482,329

16,052538731329

4,83554926124641

3,98592141033946

6622,159

17,1285,5144,4477,167

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 41: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 39

Major Sources, 1985-87—Continuedof dollars]

West Virginia

1985

19,55319,515

39

1,93610,099

13,250806

-23112,2132,8474,493

10,8761,1771,197

181,179

3913,21210,945

26242

1,7881,603161024650

2,5061,11288114122897792253620

1,39496174832301598142182312313

1,2172472522737229425

6741,298460226234

2,32680144532118867484

1,09716853551

119136

2,26740145

1,821

1986

20,29620,238

58

1,91710,587

13,575835

-26512,4763,0494,770

11,0831,1701,322

381,284

5813,51711,153

24222

1,6621,526110026678

2,5201,104

86(D)38239077121(D)3721

1,416106195152171507348162392013

1,2102172672939228430

6761,353490239251

2,54085157522459673555

1,16319054611

124179

2,36440248

1,914

1987

20,90720,871

36

1,89711,020

13,911860

-21712,8333,1904,884

11,3651,1801,366

161,351

3613,87411,428

28272

1,5761,439109028735

2,5241,11287(D)40259576620(D)4221

1,412118205092151587443172272012

1,2341942802943236452

6841,397520244277

2,72991165522609873544

1,27820856671

130194

2,44742750

1,969

Southwest

1985

318,106314,0614,045

24,31713,081

240,31113,777-302

226,23252,02139,853

194,11818,15428,0393,26924,770

4,045236,266197,3351,1331,038

9613,808267

12,707519316

20,201

37,95413,9212,739124953830

2,2853,3312,325

41,205126

24,0341,056406

1,3972,7155,9024,9233,402946

1,787999502

17,8261,2283,985452

3,3264,1834,652

16,24425,76515,8865,9089,978

48,5181,4482,7301,01811,7122,380946947173

13,3504,2071,2121,00240

1,8695,485

38,9318,2674,53426,130

1986

327,496323,2194,277

24,75313,231

244,70914,249-205

230,25453,94143,300

195,95918,45530,2953,50926,785

4,277240,432199,6961,095985111

11,244395

10,072447331

19,877

37,87114,1482,882127916863

2,3873,4522,174

41,210133

23,7231,053416

1,3052,5765,0565,1273,960835

1,7781,103514

18,0331,1753,978371

3,7614,0584,690

16,17526,12317,0086,27010,738

52,2701,4412,8771,02912,3462,535966

1,026183

14,3274,7121,2821,05646

1,9906,454

40,7368,3164,76927,651

1987

340,131334,3995,732

24,94613,634

252,76614,581-193

237,99255,98746,152

201,08318,95832,7254,92227,803

5,732247,034204,0491,1831,069114

10,090376

8,939437338

18,571

38,72314,5842,965125952902

2,4603,6642,110

21,262142

24,1391,035414

1,2242,5314,8905,4324,341877

1,6971,153545

18,7481,1084,214358

4,1654,1464,757

16,06326,31717,5416,25811,283

56,8141,4552,9961,03813,2532,654982

1,092178

16,2265,4521,4311,16049

2,1136,735

42,9858,8264,96829,191

Arizona

1985

40,95440,502

453

3,16112,955

29,2871,752-75

27,4597,4995,996

24,5082,1412,637302

2,335

45328,83423,758

2041996

528(D)89377(D)

3,010

4,873785192458513009260776

4,08814453243202824

1,1628374420930963

1,7781153852

290528459

1,5553,3842,020809

1,211

6,40532431880

1,35532412014121

1,9355101391698

338623

5,0761,049553

3,474

1986

44,85744,355

501

3,27913,679

32,1571,927-90

30,1408,2046,513

26,8492,3262,982351

2,632

50131,65626,1032282218

403(°)(D)344(D)

3,226

5,2708882166645933710360927

4,38116957243207791

1,2311,0164621933270

1,9131144111

344525517

1,6263,6572,400968

1,432

7,37935735483

1,55940014416225

2,1835981491878

366803

5,5531,062588

3,903

1987

48,46647,770

697

3,38614,315

34,8252,062-10032,6648,7697,033

28,9522,4693,404536

2,868

69734,12928,077

2452379

423(D)(D)340(°)

3,017

5,6029602196636338810870997

4,64219356234214786

1,3421,084

4922937582

2,1191134571

449543555

1,8103,8932,6771,0671,610

8,29143639286

1,63042813918124

2,5617231672179

397902

6,0521,172606

4,273

New Mexico

1985

16,24816,003245

1,45011,203

11,74172518

11,0342,6512,563

9,670879

1,192183

1,009

24511,4968,389

45422

703(D)412116(D)940

8492527316192691946034

5975073828681739333612917

95699208083217349

5291,267517239278

2,5831031214679612546481164716447611

124242

3,108757393

1,957

1986

16,94416,694

250

1,47911,459

12,09175525

11,3602,8242,759

9,930882

1,280190

1,090

25011,8418,61144422

546(°)(D)8459934

8862577618202701743055

629537412664120107295910221

95294204089206358

5231,326559252307

2,8401081294787513148551770517847631

132305

3,230761409

2,059

1987

17,81217,498

315

1,50011,875

12,66578224

11,9072,9552,951

10,340925

1,400252

1,149

31512,3508,924

50482

500(D)(D)

7961892

9212567617233731735065

665539402362131114355511625

97090215095217354

5521,390587260327

3,0631131354793413847609

78220151681

141336

3,427800426

2,200

Oklahoma

1985

40,20939,524

685

3,31612,124

28,5831,765257

27,0766,9376,196

22,3052,1724,107586

3,521

68527,89922,484

99963

2,34646

2,254244

1,715

4,6191,5653141810499244973390

3435

3,0555433120421<

1,0372493014042956575

2,1541005823

455498516

1,7183,0511,511695816

5,271100346102

1,123343958917

1,5904701321343

236490

5,4141,362702

3,350

1986

40,49339,525967

3,30612,249

28,5181,781310

27,0476,8356,610

21,8052,1124,602871

3,731

96727,55121,938

88862

1,867(D)

1,7741(D)

1,635

4,4371,53631118103111244933330

3177

2,90153351213869332363283662947277

2,212975653

525494528

1,5902,9931,552696856

5,56490365101

1,162357919314

1,6795071391473

241577

5,6131,372728

3,513

1987

41,06940,104

965

3,27212,551

28,6411,793335

27,1826,9776,909

21,8482,1414,652864

3,788

96527,67621,927

96942

1,630(D)

1,5451(D)

1,594

4,3911,553318201041072451003380

3147

2,83856351153719092243133642997675

2,240915803

545493528

1,5362,9591,542649894

5,93876369100

1,24036810110115

1,8345641521593

250607

5,7491,440793

3,516

Texas

1985

220,694218,0322,662

16,38913,466

170,6999,535-502

160,66334,93525,097

137,63512,96120,1032,19717,906

2,662168,037142,705

78570084

10,23165

9,95223190

14,537

27,61211,3182,160

86772677

1,6713,1231,934

3781111

16,294809313996

2,0633,9743,3392,171465

1,222596347

12,938915

2,811447

2,4982,9393,328

12,44218,06411,8384,1667,672

34,258920

1,946789

8,4371,588684667124

9,1793,06289363829

1,1724,131

25,3335,0982,88617,348

1986

225,203222,6452,558

16,68913,494

171,9429,786-450

161,70736,07727,419

137,37613,13521,4312,09819,333

2,558169,385143,044

73563699

8,428194

8,01517202

14,082

27,27911,4672,280

85730690

1,7353,2401,793

4796115

15,812778317899

1,9573,2683,5402,509394

1,206597346

12,956869

2,797366

2,8032,8343,287

12,43518,14712,4964,3538,142

36,486886

2,029798

8,7511,648682717127

9,7603,42994765933

1,2524,768

26,3405,1213,04418,175

1987

232,783229,0273,756

16,78913,866

176,6359,944-452

166,23837,28729,258

139,94313,42323,2693,27119,998

3,756172,879145,121

791689101

7,537192

7,12416205

13,068

27,80911,8152,351

82762729

1,7543,4391,731

2843123

15,994734314835

1,9233,1333,7352,829429

1,114586363

13,418814

2,962353

3,0762,8943,320

12,16418,07512,7364,2838,453

39,522830

2,100804

9,450. 1,719

697751130

11,0493,9631,06271735

1,3264,890

27,7585,4133,14319,202

Rocky Mountain

1985

91,45090,2511,199

7,21612,673

68,3684,028

4664,38615,14411,920

55,5814,9567,831710

7,121

1,19967,16954,29035231933

3,340698

1,923444276

5,551

9,9153,2111,194

81221867595341660

19746

6,704806121370499

1,387969

1,04499478788143

6,028795

1,4543

9891,5951,192

4,1527,1144,0041,6192,386

13,833511740128

2,82772032341379

3,8641,0214583148

7311,696

12,8783,2641,3298,285

1986

94,84793,0741,773

7,25713,070

70,5644,180

5266,43615,61812,793

56,5994,9329,0331,3017,733

1,77368,79155,31532229427

2,694654

1,360392288

5,436

10,0973,3131,252

81241977845351630

20544

6,784809117290483

1,429970

1,16196466814149

6,010I 7051,453

31,1031,5271,219

4,1227,2634,3271,7362,591

15,045505784128

3,07276334945686

4,1901,1444793419

7721,968

13,4763,2921,4238,761

1987

98,53496,2782,256

7,27413,546

72,7344,275

8468,54316,34313,648

57,8225,0479,8651,7718,094

2,25670,47856,45835232032

2,397601

1,075440282

4,902

10,4023,4671,346

71251998385331600

21741

6,935844119236451

1,732968

1,29091427614164

6,235626

1,5243

1,1551,7191,208

4,1617,3734,5691,7792,790

16,067494807129

3,29078534748486

4,6661,2885123659

8201,985

14,0203,4531,4879,080

Line

123

45

67891011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 42: SCB_081988

40 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Personal Income by[Millions

Line

123

45

6789

1011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

Income by Place of Residence

Total personal income (lines 6-11)Nonfarm personal incomeFarm income (line 17) l

Population (thousands) 2

Per capita personal income (dollars)

Derivation of Total Personal Income

Earnings by place of work (line 12-16 or 17-84)Less.' Personal contributions for social insurance 3

Plus: Adjustment for residence 4 ...Equals' Net earnings by place of residencePlus' Dividends interest and rent 5Plus' Transfer payments

Earnings by Place of Work

Components of earnings:Wages and salariesOther labor incomeProprietors' income 6

FarmNonfarm 6

Earnings by Industry

FarmNonfarm .

Private . . . . . .Agricultural services, forestry, fisheries, and other 7..

Agricultural servicesForestry, fisheries and other 7

MiningCoal miningOil and gas extractionMetal miningNonmetallic minerals except fuels

Construction

ManufacturingNondurable goods

Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsTobacco manufactures ,Rubber and miscellaneous plastics productsLeather and leather products ,

Durable goods ,Lumber and wood products ,Furniture and fixturesPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipmentTransportation equipment excluding motor vehiclesMotor vehicles and equipmentStone, clay, and glass productsInstruments and related productsMiscellaneous manufacturing industries ....

Transportation and public utilities ,Railroad transportationTrucking and warehousingWater transportationOther transportation 8

CommunicationElectric gas and sanitary services

Wholesale trade ..Retail tradeFinance, insurance, and real estate

Banking and credit agenciesOther finance insurance, and real estate 9

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness servicesAuto repair, services and garagesMiscellaneous repair servicesAmusement and recreation servicesMotion picturesHealth servicesLegal servicesEducational servicesSocial servicesMuseums, botanical, zoological gardensMembership organizationsMiscellaneous services

Government and government enterprisesFederal civilianMilitaryState and local

Colorado

1985

47,46146,875

586

3,23314,678

36,1122,022-31

34,0597,9445,458

29,4842,6114,016

4483,568

58635,52529,324

175168

71,580

2161,154

13327

2,850

5,4631,728

6046

4457

49629838

014342

3,7348658

116282790694577

57293704

77

2,991222568

0706

1,017478

2,2543,7392,525

9141,610

7,747295407

701,726

36114527435

2,022622192168

3161,109

6,2011,439

8203,942

1986

49,36448,709

656

3,26615,114

37,3862,122-33

35,2318,2715,863

30,3162,6324,438

5213,917

65636,73030,195

170161

91,267

19586917231

2,815

5,6391,787

649(D)4558

50829739(D)

14537

3,853915799

27184069366251

285722

82

3,023193571

1785987487

2,2383,8492,738

9981,740

8,45529643371

1,89038616130036

2,200703198188

5338

1,250

6,5361,457

8794,200

1987

51,36950,574

794

3,29615,584

38,5222,169-37

36,3168,7576,296

31,0352,7004,787

6544,133

79437,72730,837

179168

101,067

18366518832

2,571

5,8081,872

703(D)4957

54929438(D)

14734

3,936995775

2411,150

677734

4026151687

3,209164586

1798

1,182477

2,3033,8982,8871,0381,849

8,91429245171

1,99740116331835

2,397784211196

3621,232

6,8911,540

9124,439

Idaho

1985

10,86310,373

490

1,00410,823

7,76952171

7,3191,8491,695

5,867528

1,374345

1,029

4907,2805,920

806812

1500

169836

648

1,360625337

04

6969

12300

212

735412

92

421566996

2137

603113213

238

118119

423819338155183

1,4993888(D)

372904224

4423

924233(D)78

158

1,360302132926

1986

11,19210,640

552

1,00211,172

7,97953871

7,5121,8881,792

5,929522

1,528409

1,118

5527,4276,021

72648

11300

7339

653

1,351627328

05

7371

12400

223

724412

72

441446898

1938

58897

2112

44114120

426835357158199

1,6263892(°)

3869648(D)(D)

4519945360

82204

1,406302146959

1987

11,84711,130

717

99811,868

8,46056084

7,9841,9701,894

6,170545

1,745567

1,178

7177,7436,262

867610

10302

6041

639

1,436648345

15

7575

12300

213

789436

72

4515686149

1949

58783

2213

47114120

441864379159220

1,7273591(D)

3999746(D)(D)

51311147390

85213

1,481319154

1,007

Montana

1985

9,0959,092

3

82511,021

5,953421

125,5441,9081,643

4,764427761

-111872

35,9504,624

37289

23363

1083230

422

552203

5908

32391843(D)

2(D)

349221

4501411813

2629

710165224

047

121153

367748274136138

1,283557314

1557832245

4939431431

77107

1,32632897

901

1986

9,5839,224

359

81711,726

6,32642911

5,9081,9151,760

4,736409

1,181254927

3595,9674,624

30236

19560644032

413

548209

62(D)9

3440194102

(D)339221

4421412413

2629

703154225

055

110158

344732284139145

1,376547714

1698234(D)(D)

5171053245(D)77

135

1,343321104917

1987

9,9929,535

457

80912,347

6,592442

116,1611,9791,852

4,844423

1,325353972

4576,1354,741

33267

19754585629

386

54920863(D)8

34421838

03

(D)341222

4461312413

223

10

706148228

056

110: 164

346748296138158

1,480547914

1808337(D)(D)

5711223450(D)79

141

1,394344112938

Utah

1985

17,49617,405

91

1,64410,642

13,54580474

12,8152,3302,352

11,3071,0451,194

451,148

9113,45410,584

4240

23801291329325

1,080

2,344549173

16527

1298441(D)28(D)

1,7946649

19715240819745433

1137848

1,193160316

0164265288

8801,339

692317374

2,63568

127(D)

480145717632

76515818344(D)

223244

2,8701,011

1891,670

1986

18,25318,100

153

1,66410,968

14,06484172

13,2942,4302,529

11,6501,0471,367

1081,258

15313,91110,882

3433

2303130707627

1,033

2,359581189

16432

1398241(D)32(D)

1,7786049

14114541320348535

1138648

1,195136324

0186248302

9091,398

771346424

2,88158

136(D)

536152738238

84717819446(D)

237284

3,0291,026

2001,803

1987

19,09518,898

197

1,68011,366

14,62787170

13,8262,5482,721

12,0691,0801,478

1511,327

19714,43011,332

3735

230912159

10624

937

2,404626213

36333

1488241(D)43(D)

1,7785950

10814439520053739

1029055

1,240113359

0222248299

8941,436

834355479

3,24259

143(D)

626159758740

990210209

52(D)

256316

3,0981,053

2091,837

Wyoming

1985

6,5366,507

29

51012,827

4,98926180

4,6491,115

773

4,159345486-18504

294,9603,839

19163

99729051138

158551

19710622010

261143

030

9122

05

1021130

2612

531136133

03374

154

2294701779680

66956451093463315

q

1615410271

3779

1,12118490

847

1986

6,4556,401

54

50712,723

4,810250

-694,4911,113

850

3,967322520

9512

544,7563,594

16143

81627035731

158522

20010924

010

251343031

9024

06

1020230

2312

502125123

03368

152

205449177

9484

707594610914633173

1755810271

3895

1,16218695

881

1987

6,2316,140

91

49012,709

4,534232

-454,2571,089

885

3,70430053146

484

914,4423,286

17152

72024329130

156369

20511423010

251644

031

9228059

19240

2212

493119130

03166

148

1784271738885

70555439

87452718-2

1956211281

3983

1,157197101859

D Not shown to avoid disclosure of confidential information; estimates are included in totals. 3. Personal contributions for social insurance are included in earnings by type and industry but1. Farm income consists of proprietors' net income; the cash wages, pay-in-kind, and other labor excluded from personal income.

income of hired farm workers; and the salaries of officers of corporate farms. 4. U.S. adjustment for residence consists of adjustments for border workers: Earnings of U.S.2. Midyear population estimates of the Bureau of the Census. residents commuting outside U.S. borders to work less earnings of foreign residents commuting

inside U.S. borders to work plus certain Caribbean seasonal workers.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 43: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 41

Major Sources, 1985-87—Continuedof dollars]

Far West 10

1985

531,841524,3807,460

34,39315,463

389,25123,191

227366,28890,893

.. 74,660

314,04429,73045,4775,14340,334

7,460381,791319,0663,0532,505548

3,17651

2,485271368

24,705

77,03820,3475,755321

1,7092,1764,3282,5891,743

11,604121

56,6914,2911,2792,0814,5978,56014,21813,5311,1671,7854,0731,108

25,8661 4465,9661,1615,4687,6194,206

24,87839,51925,0809,59915,482

95,7514,0404,0011,41322,4544,4832,1323,3603,59025,2987,1002,8551,894

873,3699,674

62,72512,2887,86642,571

1986

570,474562,3648,110

35,13316,237

420,21725,245

131395,10395,55579,816

337,47731,36551,3755,79345,582

8,110412,107345,6053,2272,515712

2,07053

1,304312401

27,496

80,72321,3565,916355

1,8782,2834,6582,6981,704

11,731132

59,3674,4971,3092,0944,6288,60814,48315,1991,1751,8934,3561,125

27,4921,3366,'2681,2086,5287,6144,539

26,70242,22729,24910,80018,449

106,4204,3044,3261,43525,0684,8902,1773,8703,76627,5188,1822,9222,154101

3,54212,165

66,50112,3558,14346,002

1987

618,513609,3019,211

35,93317,213

457,80227,250

49430,602103,02684,885

367,61533,79856,3896,74649,643

9,211448,591377,2093,7292,900830

2,28952

1,424410404

30,191

85,46223,0026,198405

2,1612,3955,1332,9141,685

11,975135

62,4604,8851,4272,1424,6328,90115,22516,1531,2672,0064,5981,224

28,7441,2366̂ 8271,2766,8867,7444,775

27,95844,99133,36811,78521,583

120,4754,8564,7231,47228,3495,2922,2004,2994,42331,5259,8503,1142,479115

3,79913,981

71,38213,1098,36149,912

California

1985

422,142416,3645,778

26,35816,016

311,31618,532

250293,03471,78057,328

250,45524,15836,7023,96832,734

5,778305,538257,0602,3752,188187

2,663(D)

2,295(D)261

19,964

61,96316,4164,533271

1,5761,1873,5992,0841,636

11,420109

45,5471,4231,1521,2754,0327,55713,4859,948950

1,4803,337906

20,119948

4,438796

4,3826,1863,369

19,97431,25621,0527,98413,068

77,6941,9683,1031,23119,3283,6021,7522,4503,52920,241, 5,8612,4251,453

772,6128,062

48,4789,3026,34632,831

1986

453,404447,4985,906

27,00116,792

336,44920,214

203316,43875,39661,570

269,66225,55841,2294,09337,136

5,906330,542278,7922,4252,199225

1,710(D)

1,308(D)288

22,220

64,58517,2544,669305

1,7441,2583,8732,1731,594

11,521115

47,3311,5591,1761,3114,0487,56213,71110,944942

1,5773,589912

21,518876

4,665847

5,3006,1823,647

21,55533,49024,7489,00215,745

86,5422,1183,3611,25221,5843,9351,7522,9083,70021,9976,7912,4791,673

892,74310,160

51,7509,3866,58935,774

1987

492,989486,2386,750

27,66317,821

367,65621,868

183345,97181,58665,431

294,69127,60445,3614,81540,546

6,750360,905305,2202,7902,527263

1,802(D)

1,386(°)289

24,577

68,52918,6634,898345

2,0211,3294,2752,3741,571

11,733117

49,8671,7741,2871,3464,0357,88114,38711,696959

1,6633,852987

22,450808

5,087876

5,5806,2693,830

22,50935,69228,4429,88718,555

98,4292,4113,6981,28524,3244,2731,7463,2764,34725,3508,2862,6281,947101

2,95311,803

55,6859,9106,77139,003

Nevada

1985

13,79113,761

30

94014,671

10,342478

-2469,6182,2961,878

8,9876177399

729

3010,3128,702

41328

233o3415544808

5291633625369222(D)24(D)36519639306868717431850

760531233

210179192

3901,110476188289

4,3551,75113227640107415588

5661431731093243

1,610286217

1,107

1986

14,94914,912

37

96715,453

11,185519

-26310,4042,4722,073

9,68866583217815

3711,1489,453

433310233o5

18543935

5511793825377242(D)29(°)37222835326764420462154

813451283

252. 178207

4211,177537219318

4,7441,86513727697119465788

67015918330

101286

1,695296221

1,178

1987

16,48416,427

57

1,00716,366

12,426571

-30511,5502,6892,246

10,75873093936902

5712,36910,524

49381131701126442

1,018

5882033915391241(D)37(D)38525114033656584512361

878371465

283181226

4981,300585236349

5,2902,10514628751132496011678919522381

113303

1,845328231

1,287

Oregon

1985

33,95533,328

627

2,68912,628

23,9021,586-21222,1056,2185,632

18,9071,8753,120441

2,679

62723,27519,209

1979410394(D)55(D)27

1,193

5,3361,29347830363532526112(D)64(D)

4,0431,785

502962784493471381438441657

1,88819767373181410354

1,7042,6521,199466733

4,9451372635884728912110318

1,7503821561596

241415

4,06681199

3,157

1986

35,77835,001777

2,70213,239

25,3331,691-19723,4456,5135,820

19,9271,8743,532592

2,940

11124,55620,390

2129411835(D)-5(D)29

1,310

5,5321,351488(D)383672656116077(D)

4,1821,824

533002764603561951409142958

1,92018171074207383366

1,7882,8061,315500815

5,4721452865895631614311119

1,8824251641797

252529

4,166810112

3,244

1987

38,24537,327

918

2,72414,041

27,2331,805-22625,2016,9016,143

21,3382,0083,886724

3,163

91826,31521,869

25211214049(D)

8(D)31

1,367

5,8381,447510(D)413822956616089(D)

4,3901,932

5434227848740318215910038469

2,03016677179234392387

1,8692,9521,452522930

6,06015930059

1,08433715412320

2,1114781792007

268580

4,446879112

3,456

Washington

1985

61,95360,9271,026

4,40614,060

43,6922,595435

41,53210,6009,822

35,6963,0804,916724

4,192

1,02642,66634,096440191249185341011337

2,740

9,2112,4757081992633407422940965

6,7361,064

70470257485318

3,4385717830295

3,099248732290695843292

2,8094,5022,353961

1,392

8,75718550398

1,63948621724935

2,7427142572514

423954

8,5701,8891,2055,476

1986

66,34364,9531,389

4,46314,866

47,2502,821388

44,81711,17310,353

38,2003,2685,7821,0914,691

1,38945,86036,970

54818935993(D)-4(D)41

3,031

10,0552,572721(D)9165544243992(D)105(D)

7,4831,09372447272520352

4,05674179318101

3,240234765284769870318

2,9384,7542,6501,0791,571

9,66117554298

1,83252123627340

2,9698082612685

4451,189

8,8901,8631,2215,807

1987

70,79569,3091,486

4,53815,599

50,4873,005398

47,88011,85011,065

40,8283,4576,2031,1715,032

1,48649,00139,596

638223415120(D)

18(D)42

3,229

10,5072,689751(D)9468147144997(D)116(D)

7,8181,153

75415286468370

4,266145192339106

3,386225823316789902332

3,0825,0472,8891,1401,749

10,697180578100

2,19055025029940

3,2758912852956

4651,295

9,4051,9921,2476,166

Alaska

1985

9,7779,768

9

52218,726

8,721549

-5427,630949

1,199

7,1306089837

976

98,7126,09713511123643(D)602(D)7

1,213

349244132(D)12647211601(D)10567107404(D)19(D)2

806o11753308213114

310797382165217

1,46282778

3137248229

296982280180255

2,615514476

1,625

1986

9,7809,765

15

53218,378

8,421521459

7,441993

1,346

6,808577

1,03612

1,023

158,4065,7221889

17865111614225

948

3632561380132461919010

10777(D)05303015(D)2

750o9842300201109

283731387169218

1,42182738

2776846278

301952484183244

2,684527500

1,657

1987

9,5769,561

15

52518,230

8,050497

-4227,131991

1,454

6,438571

1,04113

1,028

158,0365,3612009

19061710571325

782

3952731540138401918010

12295(D)05204014(D)2

72418937300194104

252678352150202

1,36080708

2556542268

302972683082216

2,675550538

1,587

Hawaii

1985

14,57614,316260

1,05113,867

10,991678

10,3132,1892,074

9,183759

1,050109941

26010,7327,300

49381022

2101

658

527424200(D)356

140122403(D)103891174115(D)37(D)11

903

8377395245103

4431,263744246497

2,69051810833424110348518650217105607

110213

3,432966

1,2741,192

1986

15,63415,336.298

1,06514,683

11,836716

11,1202,3192,195

9,781842

1,214146

1,067

29811,5388,013

554313-2

-301

773

5454332094396

1351224031

1128(D)1204216139(D)

11

983

9077452251113

4661,348844279565

3,00155811833492119399519704238120667

116277

3,525950

1,2991,277

1987

16,97216,652

321

1,08315,679

12,919778

12,1412,5062,326

10,669941

1,309159

1,150

32112,5998,933

6549167

205

904

5674482154387

1401227031

1199(")0213316140(D)12

1,105

9794524269120

5061,518927300627

3,334620127335421314310620788281130748

124310

3,666990

1,3251,351

Line

123

45

67891011

1213141516

171819202122232425262728

293031323334353637383940414243444546474849505152

53545556575859

6061626364

65666768697071727374757677787980

81828384

5. Includes the capital consumption adjustment for rental income of persons.6. Includes the inventory valuation and capital consumption adjustments.7. 'Other' consists of the wages and salaries of U.S. residents employed by international organi-

sations and by foreign embassies and consulates located in the United States.

. Includes local, interurban, and highway passenger transit, transportation by air, pipelines(except natural gas), and transportation services.

9. Includes security and commodity brokers and services; insurance carriers, agents, brokers,and services; real estate; holding and other investment companies; and combinations of the above.

10. Far West Region totals do not include Alaska and Hawaii.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 44: SCB_081988

U.S. Direct Investment Abroad: Detail for Position and Balanceof Payments Flows, 1987 Table 1.—U.S. Direct Investment Position Abroad

The following 30 tables contain BEA's country-by-indus-try estimates, and estimates by detailed account, of the po-sition and related capital and income flows for U.S. directinvestment abroad. They also contain estimates of the po-sition, capital flows, and income for all countries and forall industries in which there was investment.

Summary position and flow estimates, and analyses ofthe estimates, were published in the June SURVEY OF CUR-RENT BUSINESS. Two other articles on U.S. direct invest-ment abroad—"Capital Expenditures by Majority-OwnedForeign Affiliates of U.S. Companies, 1988" and "U.S.Multinational Companies: Operations in 1986"—appearedin the March and June SURVEYS, respectively.

Tables for 1986 and 1987 that show subtotals for Euro-pean Communities and for Other Europe differ from thecorresponding tables for 1985. In 1986, Portugal and Spainbecame members of the European Communities; thus, inthe tables for 1986 and 1987, estimates for Portugal andSpain are included in the subtotal for European Commu-nities rather than in that for Other Europe.

NOTE.—The quarterly survey from which the annual estimates of U.S.direct investment abroad were derived was conducted by Patricia C.Walker, Chief, U.S. Direct Investment Abroad Branch. Patricia E. Di-Venuti, Richard J. McDermott, Mark New, and Dwayne Torney assistedin preparing the estimates. Smith W. Allnutt III, Chief, Data Retrievaland Analysis Branch, designed the computer programs for data retrievaland tabular presentation.

All areasPetroleumManufacturingOther

Developed countriesPetroleumManufacturingOther

CanadaPetroleumManufacturingOther

EuropePetroleumManufacturingOther

OtherPetroleumManufacturing ,Other

Developing countriesPetroleumManufacturingOther

Latin AmericaPetroleumManufacturingOther

OtherPetroleumManufacturingOther

Direct investment position

Millions of dollars

1985

230,25057,69594,70077,855

172,05836,60575,56459,889

46,90910,46921,83114,609

105,17121,73945,37538,058

19,9784,3978,3587,223

52,76416,53319,13617,096

28,2614,708

14,7338,820

24,50411,8254,4038,276

5,428

1986

259,56261,731

104,87792,954

194,69139,47985,01570,197

49,99410,92223,40615,665

122,16523,80351,98846,374

22,5324,7549,6208,157

60,27018,49519,86221,913

34,7905,714

14,78514,291

25,48012,7805,0787,622

4,602

1987

308,79366,381

126,640115,772

233,31543,762

104,75984,794

56,87911,93125,80019,148

148,95425,78567,47555,693

27,4826,046

11,4839,953

71,17419,00921,88130,284

42,3375,771

15,90220,664

28,83713,2385,9799,620

4,304

Change

Millions of dollars

1986

29,3124,036

10,17815,098

22,6332,8749,451

10,308

3,085453

1,5751,057

16,9942,0646,6148,316

2,554357

1,263935

7,5051,962

7264,817

6,5291,006

515,471

977956675654

826

1987

49,2314,650

21,76322,818

38,6254,283

19,74414,597

6,8851,0092,3943,483

26,7891,982

15,4879,319

4,9511,2921,8631,796

10,904514

2,0198,372

7,54757

1,1176,373

3,357457902

1,998

298

Percent

1986

12.77.0

10.719.4

13.27.9

12.517.2

6.64.37.27.2

16.29.5

14.621.9

12.88.1

15.112.9

14.211.93.8

28.2

23.121.4

.362.0

4.08.1

15.379

15 2

1987

19.07.5

20.824.5

19.810.823.220.8

13.89.2

10.222.2

21.98.3

29.820.1

22.027.219.422.0

18.12.8

10.238.2

21.71.07.6

44.6

13.23.6

17.826.2

-6.5

* Less than 0.05 percent (±)

Table 2.—U.S. Direct Investment Position Abroad by Account[Millions of dollars]

All areasPetroleum .. .ManufacturingOther

Developed countriesPetroleum....Manufacturing ..Other

CanadaPetroleumManufacturingOther

EuropePetroleumManufacturing ..Other:

OtherPetroleumManufacturingOther

Developing countriesPetroleumManufacturing . . . .Other

Latin AmericaPetroleum.. .ManufacturingOther

Other. ...PetroleumManufacturingOther

International

1986

Total

259,56261,731

104,87792,954

194,69139,47985,01570,197

49,99410,92223,40615,665

122,16523,80351,98846,374

22,5324,7549,6208,157

60,27018,49519,86221,913

34,7905,714

14,78514,291

25,48012,7805,0787,622

4,602

Equity l

270,34856,55395,277

118,519

175,09133,95177,13064,010

45,13810,19221,23413,712

110,83319,45247,37044,011

19,1204,3088,5256,287

90,34018,57218,14753,622

64,3075,274

12,49446,538

26,03413,2985,6527,084

4,917

Intercompany debt

Total

-10,7865,1789,601

25565

19,6005,5287,8856,187

4,856731

2,1721,953

11,3324,3514,6182,363

3,412446

1,0951,870

-30,071-77

1,716-31,709

-29,517440

2,290-32,248

-554-517-575

538

-315

U.S.parents'

receivables

55,34415,22618,64821,471

35,9188,452

14,07913,386

8,4591,0384,7832,638

22,5476,5007,8878,160

4,912914

1,4102,588

18,7286,2304,5687,930

10,2841,3533,0325,899

8,4454,8771,5372,031

698

U.S.parents'payables

66,13010,0479,047

47,036

16,3182,9246,1947,200

3,603307

2,611685

11,2152,1493,2695,797

1,501468315718

48,7996,3072,853

39,639

39,801913741

38,147

8,9985,3952,1111,492

1,013

1987

Total

308,79366,381

126,640115,772

233,31543,762

104,75984,794

56,87911,93125,80019,148

148,95425,78567,47555,693

27,4826,046

11,4839,953

71,17419,00921,88130,284

42,3375,771

15,90220,664

28,83713,2385,9799,620

4,304

Equity 1

313,26461,068

117,543134,653

210,61937,85196,59676,172

50,92211,11123,95015,861

136,41321,45862,35352,602

23,2855,282

10,2937,709

98,12219,45620,94757,719

68,5875,551

14,08748,949

29,53513,9056,8608,770

4,522

Intercompany debt

Total

-4,4715,3149,097

18882

22,6975,9118,1638,622

5,958820

1,8513,287

12,5414,3275,1233,092

4,198764

1,1902,244

-26,948-447

934-27,435

-26,251220

1,815-28,285

698-668-881

850

-219

U.S.parents'

receivables

58,53714,17319,89724,467

39,9827,956

15,66516,360

9,8161,0744,9213,821

24,5005,8999,1999,403

5,666984

1,5453,136

17,8505,6194,2327,999

9,9351,2282,8145,893

7,9154,3911,4182,106

705

U.S.parents'payables

63,0078,860

10,79943,348

17,2852,0457,5027,738

3,858254

3,070535

11,9591,5724,0766,311

1,468220355893

44,7986,0673,298

35,434

36,1851,008

99934,178

8,6135,0592,2981,255

924

1. Includes capital stock, additional paid-in capital, and retained earnings.

42

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 45: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 43

Table 3.—Change in the U.S. Direct Investment Position Abroad by Account[Millions of dollars]

All areasPetroleum ....ManufacturingOther

Developed countriesPetroleumManufacturingOther

CanadaPetroleumManufacturingOther .

EuropePetroleumManufacturingOther

OtherPetroleumManufacturing.Other

Developing countriesPetroleumManufacturingOther

Latin AmericaPetroleumManufacturingOther

OtherPetroleumManufacturingOther

International

All areasPetroleumManufacturingOther

Developed countries . .PetroleumManufacturingOther

CanadaPetroleumManufacturingOther

Europe ....PetroleumManufacturingOther

OtherPetroleumManufacturingOther

Developing countriesPetroleum !ManufacturingOther

Latin America...PetroleumManufacturingOther

OtherPetroleumManufacturingOther

International

Total

Capital outflows

Total

Equity capital

Net Increases Decreases

Reinvestedearnings

Intercompany debt

NetIncreasesin U.S.parents'

receivables

Increasesin U.S.parents'

payables l

Valuationadjust-ments

1986

29,3124,036

10,17815,098

22,6332,8749,451

10,308

3,085453

1,5751,057

16,9942,0646,6148,316

2,554357

1,263935

7,5051,962

7264,817

6,5291,006

515,471

977956675

-654

-826

27,8113,9649,838

14,010

19,8032,6648,9418,199

2,644372

1,491781

15,3762,0296,5116,835

1,783262939583

8,8042,067

8975,839

7,3601,076

4255,859

1,443991472-20

-795

2741,541

-3,2161,950

-682679

-2,9771,616

-273320

-315-277

282272

-2,5021,948

-12787

-159-54

966887240318

29246312743

673424

-113362

-10

12,2263,0641,4357,727

6,8371,1271,0764,634

1,02946391

475

5,052577530

3,945

75687

455213

5,3611,931

3593,071

3,308570309

2,429

2,0531,361

50642

28

11,9521,5244,6525,777

7,519448

4,0533,018

1,302143406752

5,334304

3,0321,998

8831

614268

4,3951,044

5992,753

3,016107436

2,473

1,380937163280

38

19,709470

11,1588,080

18,6801,546

10,2536,881

2,076-3911,4651,002

14,1921,3167,7545,123

2,412621

1,034756

1,677476905

1,248

1,933239396

1,298

-256-715

508-49

-649

7,8281,9531,8973,979

1,805438

1,664-298

84144334156

1,465441

1,259-235

-502-446

64-119

6,1611,656

2324,272

5,135374156

4,605

1,0261,282

76-333

-137

709-2,369

2,443635

1,690-6951,759

627

971205706

59

859701

1,058502

-139-200

-566

8711 633

68478

294-310

209395

-1,164-1,323

476-317

-111

7 120-4,322

546-3,344

-114-1,134

94925

130-238

3653

-606-1,142

202737

362246

-69185

-7,0323290

4524 194

4 842-684

524 210

2 1902606

40016

26

1,50173

3391,089

2,830210510

2,109

4418184

276

1,61835

1031,481

77195

324352

-1,299-106-1711 022

-832-70

-374-388

467-36203634

31

1987

49,2314,650

21,76322,818

38,6254,283

19,74414,597

6,8851,0092,3943,483

26,7891,982

15,4879,319

4,9511,2921,8631,796

10,904514

2,0198,372

7,54757

1,1176,373

3,357457902

1,998

298

44,4554,657

20,08719,711

34,1094,109

18,30211,698

6,358920

2,3513,087

23,7241,896

14,1307,698

4,0271,2931,821

912

10,507564

1,7858,159

7,16615

9636,188

3,341549822

1,971

161

2,4701,589

205676

7721,253

116597

40826

188245

79860911772

433670

-189-915

1,71830889

1,321

392-14

77328

1,325322

11993

-20

11,3662,8081,8706,687

6,7381,8831,4393,416

1,24652

298895

4,4841,1391,0842,261

1,00869257

260

4,600898431

3,271

2,31528

3341,953

2,28687098

1,318

27

8,8961,2191,6656,011

5,966629

1,3234,014

83878

110650

3,686530967

2,189

1,44222

2451,175

2,882590343

1,950

1,92241

2561,625

96054986

325

48

35,6692,933

20,38512,352

30,2402,473

17,9089,859

4,848856

2,4841,508

21,7181,311

13,5086,898

3,674306

1,9151,454

5,667626

2,4782,563

3,507249

1,3611,897

2,160377

1,116666

-237

6,315135503

6,684

3,097383278

2,436

1,10290

3221,334

1,20924

505728

78631895

373

3,122-370-7824,274

3,267-220-4753,962

-144-150-306

312

96

3,192-1,052

1,2492,996

4,064496

1,5862,974

1,35736

1381,183

1,953-6011,3131,242

75370

135548

-879-611-336

69

-349-125-218

6

530-486-119

75

7

-3,123-1,188

1,753-3,688

967-8791,308

538

255— 54460

-151

745577808514

-3324840

175

-4,001-240

445-4,206

-3,61695

258-3,969

-386336187237

-89

4,7767

1,6763,107

4,516174

1,4422,900

5288943

395

3,06486

1,3571,621

924-142

884

39849

234213

38242

154186

16-91

8027

-138

1. An increase in U.S. parents' payables is a decrease in intercompany debt and, thus, a capital inflow.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 46: SCB_081988

44 SURVEY OF CURRENT BUSINESS August 1988

Table 4.—U.S. Direct Investment Abroad: Earnings and Reinvestment Ratios[Millions of dollars or ratio]

All areasPetroleumManufacturing. .Other

Developed countries..Petroleum.,... . ...... ' . ..Manufacturing ... ... .Other

Canada , ......Petroleum, ... .... ... .Manufacturing... . .Other . ...

EuropePetroleumManufacturingOther

OtherPetroleum...ManufacturingOther ,

Developing countries .. . ......Petroleum .ManufacturingOther .... .... . .

Latin America..PetroleumManufacturing.. ,Other

Other ,Petroleum .. ......Manufacturing....Other

International ,.. ..

1986

Earnings

Total

43,1588,271

18,58616,301

32,6726,327

16,01410,331

5,147905

2,7651,477

23,1264,239

11,2847,6,03

4,3981,1821,9651,251

10,9052,3422,5725,991

7,525654

1,7365,136

3,3791,688

836855

-41»

Distributed

23,4497,8017,4288,220

13,9914,7805,7613,450

3,0711,2961,300

475

8,9342,9233,5302,480

1,986561931494

9,2282,8181,6674,743

5,593415

1,3403,838

3,6352,403

328904

230

Reinvested

19,709470

11,1588,080

18,6801,546

10,2536,881

2,076-3911,4651,002

14,1921,3167,7545,123

2,412621

1,034756

1,677-476

9051,248

1,933239396

1,298

-256-715

508-49

-649

Reinvest-mentratio l

.46

.06

.60

.50

.57

.24

.64

.67

.402

.53

.68

.61

.31

.69

.67

.55

.53

.53

.60

.152

.35•21

.26

.37

.23

.25

22

.612

2

1987

Earnings

Total

55,9708,095

27,51320,362

43,7655,591

23,68614,487

6,9781,4403,5601,978

31,2393,227

17,47210,541

5,548924

2,6551,969

12,2842,5683,8275,889

7,182490

2,3144,37T

5,1032,0781,5121,512

80

Distributed

20,3005,1627,1288,010

13,5253,1185,7794,628

2,130584

1,075470

9,5221,9153,9643,643

1,874619740

: 515

6,6181,9421,3493,326

3,675241953

2,481

2,9431,701

396846

157

Reinvested

35,6692,933

20,38512,352

30,2402,473

17,9089,859

4,848856

2,4841,508

21,7181,311

13,5086,898

3,674306

1,9151,454

5,667626

2,4782,563

3,507249

1,3611,897

2,160377

1,116666

-237

Reinvest-mentratio l

.64

.36

.74

.61

.69

.44

.76

.68

.69

.59

.70

.76

.70

.41

.77

.65

.66

.33

.72

.74

.46

.24

.65

.44

.49

.51

.59

.43

.42

.18

.74

.44

2

1986-87 change in earnings

Total

12,812177

8,9274,061

11,093736

7,6724,157

1,830534795501

8,113-1,012

6,1872,938

1,150-258

690718

1,380227

1,255102

3441 KA

579758

1,723391676657

339

Distributed

-3,149-2,639

-300-210

-466-1,662

181,178

-942-712-224

-5

5881,008

4331,162

11358

-19121

-2,610-875-318

-1,417

-1,918-174-386

-1,358

-692-702

68-59

-73

Reinvested

15,9612,4629,2284,271

11,559926

7,6552,979

2,7721,2471,019

506

7,5255

5,7541,775

1,262-316

881697

3,9901,1021,5731,315

1,57410

965599

2,4161,092

608716

412

1. Reinvested earnings divided by earnings.2. Reinvestment ratio is not defined because reinvested earnings are negative.

NOTE, — Earnings and reinvested earnings include all increases (gains) and decreases (losses) inaffiliate book value resulting from changes in the exchange rate at which foreign currency-de-nominated assets or liabilities are translated into U,S. dollars. Most of these gains and losses are

excluded from the affiliate's calculation of its own earnings and reinvested earnings. An alterna-tive measure of reinvestment ratios—one that more closely approximates the reinvestment ratiofrom the affiliate's, not from the U.S. balance of payments, perspective—excludes such amountsfrom earnings and reinvested earnings. For 1986 and 1987, this alternative measure results inreinvestment ratios of approximately 0.30 and 0.50, respectively.

Table 5.— Selected Transactions With, and Position in, NetherlandAntillean Finance Affiliates

[Millions of dollars]

Table 6.—U.S. Direct Investment Abroad: Income

Line

12345

6789

10

11

121314

15

Direct investment positionEquity1 ..Intercompany debt, net

U.S. parents' receivablesU.S. parents' payables

Capital outflowsEquity capitalReinvested earnings .Intercompany debt, net

Increases in U.S. parents'receivables.

Increases in U.S. parents'payables 2.

Income (13 14 + 15)Earnings „Withholding taxes on distributed

earnings.Interest (net of withholding

taxes).

1982

-20,08912 48532 574

56233136

8 6554'l73

79613623

187

13,810

19971,067

C*).

-3,064

1983

-23,3001499638296

39838 695

3 1361 411

9945542-164

5,378

32461,358

14

-4,591

1984

-25,07816 91141 989

'53942 527

1 977*982895

3 855-40

3,814

3 4301J69

2

-5,196

1985

-20,7841668437 468

1,17238 640

4 245864902

4208695

-3,513

3 1321,643

3

-4,772

1986

-16,07816 69232770

1,33534 105

5317785388

4920163

-4,757

27521,138

2

-3,888

1987

-13,50016 25629756

76130518

2 558928472

3 014-574

-3,587

2 1741,078

2

-3,251

* Less than $500,000.1. Includes additional paid-in capital and retained earnings.2. An increase in U.S. parents7 payables is a decrease in intercompany debt and, thus, a

capital inflow.NOTE.—This table shows only transactions with, and positions in, affiliates established to

borrow funds abroad and relend them to their U.S. parents.

All areasPetroleum ....Manufacturing . ...Other

Developed countries ....PetroleumManufacturing . .Other

Canada ....PetroleumManufacturingOther

EurooePetroleumManufacturingOther

OtherPetroleumManufacturingOther

Developing countriesPetroleumManufacturingOther

Latin AmericaPetroleumManufacturingOther

OtherPetroleumManufacturingOther

International

Income

Millions of dollars

1985

33,2029,306

14,6779,219

26,0985,977

12,6107,512

4,3071,3062,135

866

19,8004,0449,7216,035

1,991626754611

6,8453,0652,0671,714

2,338446

1,434457

4,5072,618

6321,256

258

1986

38,4178,065

17,91112,442

32,1446,226

15,58910,329

5,086841

2,7381,506

22,7814,232

10,9567,592

4,2771,1531,8941,230

6,6852,2282,3222,135

3,403627

1,5201,255

3,2831,601

801880

-412

1987

52,3088,130

27,04117,137

43,3425,541

23,35114,450

7,0221,4503,5392,033

30,8603,204

17,21710,439

5,460886

2,5951,978

9,0292,6443,6902,695

3,870488

2,2081,174

5,1592,1561,4831,521

-63

Change

Millions ofdollars

1986

5,216-1,242

3,2343,224

6,045250

2,9782,817

778-465

603641

2,981188

1,2361,557

2,286527

1,140619

16fr836255422

1,06518086

798

-1,2241 017

169-376

-670

1987

13,89165

9,1314,695

11,198686

7,7624,121

1,936609800526

8,079-1,028

6,2602,847

1,183267701748

2,344416

1,369560

467-139. 687

81

1,877554681641

349

Percent

1986

15.7-13.3

22.035.0

23.24.2

23.637.5

18.1-35.6

28.274.0

15.14.6

12.725.8

114.884.2

151.1101.4

2 327 312.324.6

45.540.4

6.0174.4

-27.238826.7

-29.9

(0

1987

36.2.8

51.037.7

34.8-11.0

49.839.9

38.172.429.234.9

35.5-24.3

57.137.5

27.7-23.1

37.060.8

35.118,758.926.2

13.7-22.1

45.2-6.5

57.234.685.072.8

0)

1. The percent change is not calculated because income is negative in one or both years.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 47: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 45

Table 7.—Source and Relationship of Income and Its Components[Millions of dollars]

Line

123

45

6

7

8

91011

EarningsCapital gains/lossesEarnings before capital gains/losses

Distributed earningsReinvested earnings

Withholding taxes on distributed earnings

Interest (net of withholding taxes)

Income

Income before capital gains/lossesEarnings (net of withholding taxes) . .Distributed earnings (net of withholding taxes)

1987amount

55 97015 64240,328

20,30035 669

1269

2393

52,308

366665470119,031

Source and relationship

2 + 3Reported *Extrapolated 2

6 + 111 -4

Extrapolated 2

Extrapolated 2

1-6 + 7

8 - 21 6Extrapolated 2

1. Data are as reported by the sample; no estimate for nonreporting affiliates is made.2. Universe estimates are calculated by extrapolating forward data from the 1982 benchmark

survey, based on the movement of reported sample data in subsequent years.

Table 8.—U.S. Direct Investment Abroad: Income and Rate of Return[Millions of dollars or percent]

AH areasPetroleumManufacturingOther

Developed countriesPetroleumManufacturingOther

CanadaPetroleumManufacturingOther

EuropePetroleumManufacturingOther

OtherPetroleumManufacturingOther .

Developing countriesPetroleumManufacturingOther

Latin AmericaPetroleumManufacturingOther

OtherPetroleumManufacturingOther

International

1986

Income

Total(=col. 2

lesscol. 5plus

col. 6)

(1)

38,4178,065

17,91112,442

32,1446,226

15,58910,329

5,086841

2,7381,506

22,7814,232

10,9567,592

4,2771,1531,8941,230

6,6852,2282,3222,135

3,403627

1,5201,255

3,2831,601

801880

412

Earnings

Total

(2)

43,1588,271

18,58616,301

32,6726,327

16,01410,331

5,147905

2,7651,477

23,1264,239

11,2847,603

4,3981,1821,9651,251

10,9052,3422,5725,991

7,525654

1,7365,136

3,3791,688

836855

419

Beforecapitalgains/loses

(3)

33,5196,481

14,18512,853

23,6364,792

11,4967,349

5,067887

2,7671,413

15,8102,8597,8015,149

2,7601,046

928787

10,0621,8672,6895,507

7,143644

1,7484,751

2,9191,223

940756

180

Capitalgains/losses

(4)

9,6391,7904,4013,448

9,0351,5354,5182,982

8118-265

7,3161,3803,4832,454

1,638137

1,037464

842475

-117484

38210

-13385

460465104100

-239

With-holdingtaxes ondistrib-

utedearnings

(5)

1,482396788298

942231495216

25711210144

50887

305116

177329056

53816529380

3516

27272

188158218

2

Interest (net ofwithholding taxes)

Net

(6)

-3,258190113

3 561

41413170

213

195487473

16381

-23105

572

1935

-3,6815143

3776

3772-20

57-3,809

91721433

9

U.S.par-ents'

receipts

(7)

1,492362364767

1,060252292515

237499593

737200159378

863

3845

411(D)71(D)

280(D)60(D)

131741146

22

U.S.par-entspay-

ments

(8)

4,750172251

4,328

645121222302

421

2120

574120182272

29(*)1910

4,092(D)28(D)

4,052(D)3

(D)

402

2513

13

Rate ofreturn l

(9)

15.713.517.914.6

17.516.419.415.9

10.57.9

12.110.0

20.018.622.518.0

20.125.221.116.0

11.812.711.910.9

10.812.010.310.9

13.113.016.911.1

-8.2

1987

Income

Total(=col. 11

lesscol. 14plus

col. 15)

(10)

52,3088,130

27,04117,137

43,3425,541

23,35114,450

7,0221,4503,5392,033

30,8603,204

17,21710,439

5,460886

2,5951,978

9,0292,6443,6902,695

3,870488

2,2081,174

5,1592,1561,4831,521

-63

Earnings

Total

(11)

55,9708,095

27,51320,362

43,7655,591

23,68614,487

6,9781,4403,5601,978

31,2393,227

17,47210,541

5,548924

2,6551,969

12,2842,5683,8275,889

7,182490

2,3144,377

5,1032,0781,5121,512

-80

Beforecapitalgains/loses

(12)

40,3286,593

19,14014,594

28,4704,369

15,2038,898

5,6221,1262,8611,635

19,2872,473

10,6356,179

3,560769

1,7071,084

12,0502,4053,9385,708

7,308400

2,4784,430

4,7432,0051,4601,278

-192

Capitalgains/losses

(13)

15,6421,5018,3735,768

15,2951,2228,4845,589

1,356314699343

11,952753

6,8374,362

1,987155948884

234163

-111182

12690

-164-52

3607453

234

113

With-holdingtaxes ondistrib-

utedearnings

(14)

1,269206711353

988188513288

17440

10133

640107318215

174419341

28118

19865

2248

16650

57103214

(*)

Interest (net ofwithholding taxes)

Net

(15)

-2,393241239

2872

565137177250

218508088

2618563

112

873

3450

-2,9749462

3 130

-3,0886

59-3,153

113872

23

17

U.S.par-ents'

receipts

(16)

1,637357385895

1,125248313565

26161

101100

759184173402

1053

3963

4899772

320

3591063

285

131878

35

22

U.S.par-entspay-

ments

(17)

4,029116146

3,767

560110136315

44102112

49899

110289

18(*)5

13

3,4644

103,450

3,44644

3,438

18•(*)

612

5

Rate ofreturn 1

(18)

18.412.723.416.4

20.313.324.618.6

13.112.714.411.7

22.812.928.820.5

21.816.424.621.8

13.714.117.710.3

10.08.5

14.46.7

19.016.626.817.6

-1.4

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. Income divided by the average of the beginning- and end-of-year direct investment position.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 48: SCB_081988

46 SURVEY OF CURRENT BUSINESS August 1988

Table 9.—U.S. Direct Investment Abroad: Royalties and License Fees and Charges for Other Services[Millions of dollars]

1986

Royalties and license fees

NetU.S.

parents'receipts

U.S.parents'

pay-ments

Charges for other services 1

NetU.S.

parents'receipts

U.S.parents'

pay-ments

1987

Royalties and license fees

NetU.S.

parents'receipts

U.S.parents'

pay-ments

Charges for other services l

NetU.S.

parents'receipts

U.S.parents'

pay-ments

All areas 5,427 5,533Petroleum 20 20Manufacturing 4,108 4,155Other 1,299 1,359

Developed countries 5,106 5,204Petroleum 19 19Manufacturing 3,940 3,979Other 1,147 1,206

Canada 587 597Petroleum (*) (*)Manufacturing 491 501Other 96 96

Europe 3,521 3,596Petroleum 3 3Manufacturing 2,745 2,770Other 773 824

Other 998 1,010Petroleum 16 16Manufacturing 704 708Other 279 286

Developing countries 321 329Petroleum 1 1Manufacturing 169 176Other 152 152

Latin America 178 182Petroleum 1 1Manufacturing 85 89Other 92 92

Other 143 147Petroleum (*) (*)Manufacturing 83 87Other 60 60

International 0 0

1060

4659

2,996594

1,3151,086

2,118300

1,071747

84945

579226

1,346188801357

-7867

-309164

810242244324

202396698

607203179226

5,413780

2,1762,458

4,093389

1,8961,808

1,153126703324

2,497195

1,0571,244

44368

136239

1,190285279626

5791

340

702228188286

130

2,417185860

1,371

1,97589

8251,061

30481

12499

1,1518

256

5211

44575

3814335

302

1726

243

9526

6,9174

5,4631,450

6,5983

5,2721,324

585(*)

486100

4,6973

3,736958

1,316(*)

1,050266

3191

192126

1651

9272

1540

10054

7,0654

5,5361,526

6,7293

5,3391,387

614(*)

511103

4,7823

3,7751,004

1,334(*)

1,053281

3361

197138

1711

9675

1650

10164

1480

7276

1310

6764

280

253

850

3945

180

2,391510

1,062820

1,661247825589

95340

621291

170540238

-24037

-33760

685230237218

172647237

513166165182

45

5,147675

2,0352,437

3,980.321

1,7491,909

1,12691

635401

2,452192996

1,265

40139

119244

1,044254286504

4467495

277

598181191227

2,756165974

1,617

2,31874

9251,320

1735113

109

1,50422

4551,027

6411

456184

3592449

285

2741023

240

85142645

79

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. Consists of service charges, rentals for the use of tangible property, and film and television

tape rentals. In 1987, U.S. parents' receipts of service charges were $4,613 million, receipts of

rentals for the use of tangible property were $146 million, and receipts of film and television taperentals were $388 million; U.S. parents' payments were $2,698 million, $49 million, and $9 mil-lion, respectively.

Table 10.—U.S. Direct Investment Abroad: Position and Balance of Payments Flows, 1977-87[Millions of dollars]

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Direct investment position

Capital outflows (inflows(-))...Equity capitalReinvested earningsIntercompany debt

Income

Royalties and license fees, net receipts

Charges for other services, net receipts 3....

145,990

11,893(2)(2)(2)

19,673

2,173

1,710

162,727

16,056(2)(2)(2)

25,458

2,697

2,008

187,858

25,222(2)(2)(2)

38,183

3,002

1,978

215,375

19,222(2)(2)(2)

37,146

3,693

2,087

228,348

9,624(2)(2)(2)

32,549

3,658

2,136

207,752

-2,3699,7081,359

-13,436

21,380

3,507

1,816

207,203

3734,9037,139

-11,669

20,499

3,597

2,532

211,480

2,8211,3478,447

-6,973

21,217

3,921

2,483

230,250

18,068-2,21019,0091,269

33,202

4,096

2,490

259,562

27,811274

19,7097,828

38,417

5,427

2,996

308,793

44,4552,470

35,6696,315

52,308

6,917

2,391

1. There is a break in series between 1981 and 1982 because, beginning with 1982, the estimatesare linked to the 1982 benchmark survey of U.S. direct investment abroad; estimates for 1977-81are linked to the 1977 benchmark survey.

2. For years prior to 1982, capital outflows cannot be disaggregated by component because datafor the components were not reported separately for unincorporated foreign affiliates.

3. Consists of service charges, rentals for the use of tangible property, and film and televisiontape rentals.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 49: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 47

Table 11.—U.S. Direct Investment Position Abroad, 1985[Millions of dollars]

All countries

Developed countries

Canada

Europe...

European Communities (10)BelgiumDenmarkFranceGermanyGreeceIreland..ItalyLuxembourgNetherlandsUnited Kingdom

Other EuropeAustria .FinlandNorwayPortugalSpainSwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuador ,PeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamas

JamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther . . .

Other AfricaSaharan

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

Addendum— OPEC l

Allindus-tries

230,250

172,058

46,909

105,171

81,3805,0381,2817,643

16,764210

3,6935,906

6907,129

33,024

23,791493258

3,215237

2,281933

15,766234375

9,235

10,7438,772

5761,394

52,764

28,261

17,6232,7058,893

882,148

3611,2431,588

597

9,6585,0883,959

611

9803,795

13,116122

-20,499484

3,490472

4,4972,4231,926

325172

2,07412344

1,907

4,606717

2,442792655

15,4003,295

3834,4751,1401,0321,874

743750

1,074635

5,428

10,383

Petro-leum

57,695

36,605

10,469

21,739

15,976555570579

2,595140

-26479-10

1,8409,255

5,762(D)(D)

2,70338

189(D)(D)

10026

2,184

2,2131,627

(D)(D)

16,533

4,708

2,71246823350

1,007(D)

49676(D)

69652

508136

1,300843

-2033

40405

7206

3,4642,0791,635

311134

1,3853197

1,451

2,090(D)

851644

(D)

6,270352

233,760

60492

3724

-5790278

4,557

6,011

Manufacturing

Total

94,700

75,564

21,831

45,375

41,8852,886

1944,948

10,71745

2,7543,815

2693,495

12,760

3,490200

(D)15891

1,428449

1,12836(D)

4,584

3,7733,044

162568

19,136

14,733

9,8361,4886,904-280

65614056

81458

4,5724,053

245273

32640(D)

1082137(D)

112

35352320'

19301

085

216

356142189261

3,694400329238408385999205530142

56

1,494

Foodand

kindredproducts

9,252

7,029

1,702

4,653

4,27317296

351608

1387237

0625

1,796

380(D)

02

1922622(D)

20

128

545389

20136

2,223

2,052

1,370248706

1311625

4217

40

63444581

108

48(D)(D)10(D)

70

14

178

(*)0890

(D)(D)

(*)0

(*)0

(*)154(D)158

33154631(D)1

(D)

Chemi-cals and

alliedproducts

20,273

15,918

4,794

8,362

7,6321,189

(D)794

1,13131

533547

(D)1,1592,179

73065

(D)31

45229

228(D)1

1,311

1,4511,300

5695

4,356

3,127

2,012251

1,32023

1971817

1798

94375811174

172(D)

089(D)230

18

10517170

(*)880

5138

982548(D)(D)

1,02614214018719

17210266

1383722

(D)

'rimaryand

fabri-cated

metals

5,012

3,858

1,668

1,887

1,835995

145632(*)838418

241529

522

(*)(*)

3(D)

-15(D)

00

82

22276

4143

1,154

850

45692

620(D)24(D)1942

4

(D)319

37(D)

(D)000300

(D)

1316402

1260

(*)126

665

(D)0

(D)

10610487

(D)13

(D)820

120

Ma-chinery,exceptelec-trical

18,987

16,886

2,428

12,308

11,343241

11,9413,287

0556

2,01410

6342,659

96536(*)

0(D)(D)(D)78

00

1,664

485393

588

2,101

1,639

1,440326

1,101030082

198198

00

(*)0000

(*)00

111000000

1771

(D)(D)

445(D)683

(D)(*)

181(*)66(D)

0

(D)

Electricandelec-

tronicequip-ment

8,515

5,908

1,685

3,719

3,38733352

303903

(D)267534

(D)128837

331(D)(D)(D)3937

6111

50

331

173135

632

2,607

1,035

56845

425(D)(D)231

532

449439

010

1700000

(D)

(D)

35550

(*)300

(D)(D)

9894

400

1,4396

34(D)

30999

60667

193104(D)

108

Trans-portation

equip-ment

11,719

9,561

4,977

3,845

3,845(D)(*)

478(D)06

250

36641

(*)(D)

00

(D)-47

(D)04

(D)

625

114114

(D)(D)

2,158

2,018

1,192174

1,083(D)(D)120

98(D)

826826

00

00000000

158

(D)0

(D)8008

16000

-16

1400700

-283(D)310

(D)

-86

Othermanu-

facturing

20,942

16,404

4,577

10,601

9,569(D)(D)

938(D)(D)

921374165672

4,118

1,032338

2625

23840

591(D)(D)

443

783636

(D)(D)

4,538

4,013

2,797352

1,64811

273(D)16

413(D)

(D)1,069

17(D)

(D)(*)

09070

(D)

488

(D)0

(D)410

1724

9311(D)(D)-3

3849332(D)477112(D)6222

2

592

Whole-sale

trade

22,790

17,117

2,446

11,778

6,086971415

1,2016335535

6644

6641,444

5,69170

197234

(D)257180

4,591(D)88

1,581

1,312971114227

5,673

2,855

95913536043582163

25325

1,21454164033

682227259334416(D)(D)

139(D)154

(D)(D)(D)5142

620(D)

152(D)53

2,0581,390

1(D)

6571

191(D)

1264624

602

Banking

14,461

7,394

549

6,268

4,58030037

3661,333

(D)(D)

380213127

1,875

1,68721(D)(D)(D)

2710

1,286406

178

398371

(D)(D)

7,067

5,300

604335103108(D)-6

717(D)

4641

45510

4,2312,209

(D)5

(D)(*)

1,79817

214128127

01

86-14146

252(D)(D)(D)17

1,302402

(D)1727

1772232686378(D)

314

Finance(except

banking),insur-ance,

and realestate

22,501

23,258

5,684

15,798

9,518119(D)

2271,019

(D)

904304214176

6,521

6,280(D)

0(D)1

26135

5,7410

261

520

1,2551,162

4548

-757

-2,189

1,43677

1,0401579125

212-5

2,213185

2,00622

-5,838450

12,988-44

-20,7843

1,52722

11(D)

30

(D)(D)

-300

(D)

232150-7(D)(D)

1,189687

518415

10648

1241126

493

Services

4,683

3,520

746

2,534

1,81916136

170458

16910

572721

715102

34(D)578

549(D)(D)

83

158142

412

1,163

507

37290

1352999

(D)84(D)

78-18

7125

573

656

20(D)56(D)

715047(D)(D)21(D)(D)12

3733

437-8

-59

21257(*)(D)(D)5119207

11(D)

475

Otherindus-tries

13,421

8,601

5,184

1,680

1,51447(D)

153422

13(D)

1720

254448

16513116

53(D)(D)

93

104

1,6331,455

16162

3,949

2,347

1,704112118123(D)(D)(D)

133(D)

42127633

112

222227211(D)(D)3850

2458466(D)(D)

16198(D)(D)

683(D)(D)21(D)

6747

(D)213

(D)15021(D)174

203

871

994

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.

1. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecua-dor, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United ArabEmirates, and Venezuela.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 50: SCB_081988

48 SURVEY OF CURRENT BUSINESS August 1988

Table 12.—U.S. Direct Investment Position Abroad, 1986[Millions of dollars]

All countries

Developed countries

Canada

Europe

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourg..NetherlandsPortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorwaySwedenSwitzerland •,TurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew Zealand .South Africa

Developing countries

Latin America

South America ,Argentina ,BrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermuda ,JamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

LibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsrael.Saudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC l

Allindus-tries

259,562

194,691

49,994

122,165

98,4725,2291,1138,857

20,846172

4,3956,935

72611,618

2782,612

35,692

23,693386292

3,6261,002

17,842242302

11,332

11,2009,120

5131,567

60,270

34,790

18,6442,9199,187

2242,033

4681,1312,139

543

9,5714,7504,293

528

6,5752,762

14,765107

-15,817368

3,771620

4,3132,0761,814

19667

2,23671

5751,590

4,590600

1,972857

1,161

16,5773,980

4464,3951,1091,1352,238

800870

1,079525

4,602

10,906

Petro-leum

61,731

39,479

10,922

23,803

17,572491347471

3,287126(D)

268(D)

3,22635

1839,187

6,23088(D)

3,250(D)(D)

102-11

2,612

2,1411,615

(D)(D)

18,495

5,714

3,30445623753

1,023258438666172

59142

446103

1,820846409

. (D)37

312(D)

203

3,4781,7251,505

19524

1,753-6500

1,259

2,893(D)

906688

(D)

6,41039432

3,766694106469

8-11720233

3,758

7,248

Manufacturing

Total

104,877

85,015

23,406

51,988

50,0822,604

1626,095

12,95157

3,2694,845

2744,463

981,377

13,889

1,9061602031

5451,244

41-72

5,443

4,1773,374

170633

19,862

14,785

10,2031,5867,141-278

58515249

88682

4,3233,776

251296

25833

0942511(D)(D)

2686036

025

2080

33176

3771771512920

4,432443373225316568

1,35324664221748

1,477

Foodand

kindredproducts

10,968

8,593

2,108

5,736

5,513199122479533(*)

439348

0843

26300

2,223

2231402

(D)(D)(D)0

157

592396

20176

2,376

2,033

1,362275700

17123281

17345

63242676

131

39(D)

011(D)

602

239

(*)09

1400

14

(*)000

(*)320

(D)168

1951537406

(D)

206

Chemi-cals and

alliedproducts

22,741

18,251

4,847

10,347

10,0361,311

(D)1,1391,706

43738831(D)

1,53116

4872,192

31195

(D)29

2228

(D)

1,591

1,4661,320

5789

4,491

3,101

2,018261

1,38826

1591815

14210

95977811072

124(D)0

73(D)-2

018

8720200

(*)670

3334

992938(D)(D)

1,204182159191

1918713871

2054011

434

Primaryand

fabri-cated

metals

5,311

4,412

1,742

2,089

2,088(D)9

159772

(*)98

12125

278(D)37

482

13

(*)(*)252300

130

450307

4139

899

658

378(D)

511(D)34(D)18603

258193(D)(D)

23000

(D)00

(D)120(D)(D)

02

(D)0

-1(D)

204

(D)0

(D)

1012

5276

132

(D)(D)

20

92

Ma-chinery,exceptelec-trical

22,401

20,043

2,538

15,190

14,635223

(D)2,4974,136

0620

2,7592

877(D)

5982,890

555(D)80

414(D)

00

1,812

503384

6113

2,358

1,769

1,616305

1,301030033

153153

00

(*)0000

(*)00

111000000

27(D)

2(D)

562(D)763

(D)(*)

245(D)93-5

0

19

Electricandelec-

tronicequip-ment

7,405

4,684

1,906

2,218

2,34055

-18282430

6318188(D)

109(D)

-1331,054

12234-4102

7370

475

866979

2,721

883

547(D)

376(D)(D)201

81(D)

337320

017

-100000

(D)(D)21(D)(D)0

(*)(D)

0(D)11

126118

800

1,6912343(D)

236100845

74209150

(D)

111

Trans-portation

equip-ment

14,186

11,347

5,573

4,768

4,761(D)(*)

3823,078

06

490

33(D)

-2511,388

7(D)(D)

0(D)04

(D)

699

308273(D)(D)

2,839

2,666

1,689269

1,239(D)(D)130

101-2

977977

00

00000000

(D)(D)(D)

0(D)-6

006

(D)000

(D)172

0800

-4100(D)340

(D)

114

Othermanu-

facturing

21,865

17,686

4,691

11,641

10,71064125

1,1582,296

81,049

549166791

29339

3,660

93241(D)(D)60

736(D)(D)

580

773625

(D)(D)

4,179

3,675

2,594317

1,62614

205(D)14

326(D)

1,007929

(D)(D)

73(*)

09070

57

(D)(D)(*)

0(D)

60

(D)(D)

(D)(D)(D)(D)3

3839534(D)(D)781229(D)242

502

Whole-sale

trade

26,168

20,469

2,594

14,294

8,1961,284

4961,443

9783532

8844

1,08452

3481,557

6,098(D)

231270155

5,272(D)86

2,179

1,402988123291

5,699

2,773

98116843645572864

15925

1,150347780

22

642260267276

(D)27(D)

117433706

74(D)

(D)26

571(D)

18352(D)

2,2381,621

1(D)5563

187(D)

1543827

505

Banking

14,576

8,408

575

7,168

5,55839336

3381,615

(D)(D)

29723019844

3362,128

1,60936(D)19(D)

1,47136(D)

192

473440

(D)(D)

6,168

4,712

635355

62166(D)34

12(D)

608(D)

574(D)

3,4701,217

(D)6

(D)(*)

1,95668

211113112

01

98-25347

102(D)(D)11

-142

1,14231735111

238132282

477526

307

Finance(except

banking),insur-ance,

and realestate

34,413

28,490

6,429

20,058

12,90223035

2231,493

(D)1,095

378(D)

1,7672

257,405

7,156(D)

0(D)

1086,646

0270

648

1,3551,241

5361

5,924

4,190

1,642177

1,0757483135

224-10

2,289158

2,11318

259398

14,173(D)

-16,0783

1,662(D)

425104

38(*)

038

14985(D)(D)19

1,5421,138

4165213646

1741586

469

Services

4,866

4,009

856

2,876

2,29316732

119209

19110

0611

(D)(D)

915

584-2

2262

(D)(D)11

108

168140

226

857

549

36377

12932(D)

9(D)873

2361298027

-50-2

-1815

10(D)72(D)

7354531

n18568

5215

114(D)(D)

18322(*)10

4821(D)

713(D)

141

Otherindus-tries

12,931

8,821

5,212

1,978

1,869605

168542

66

1540

270(D)(D)

611

109(D)(*)(D)(D)636

(D)

149

1,4821,322

21139

3,265

2,066

1,517100107131(D)6

(D)105(D)

373(D)

48(D)

1769

(D)5

(D)2

3963

123766907

47(D)(D)36

447(D)

408(D)29

63045(*)(D)22

1493018178

(D)

844

759

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 51: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 49

Table 13.—U.S. Direct Investment Position Abroad, 1987[Millions of dollars]

All countries

Developed countries

Canada

Europe

European Communities (12).BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourgNetherlandsPortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuela. . .Other

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EgyptLibya ::::::.::.:Other

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi Arabia .United Arab EmiratesOther .. .

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC 1

Allindus-tries

308,793

233,315

56,879

148,954

122,2477,0781,114

11,47824,450

2155,4848,449

72314,164

3814,037

44,673

26,707387387

4,1421,188

19,973241390

14,270

13,21210,988

6351,590

71,174

42,337

19,3122,8549,955

2242,037

4971,1022,124

519

10,4304,9974,780

654

12,5942,566

18,22990

-13,208356

3,970592

5,0851,9851,663

25270

3,10065

1,2671,768

4,762793

2,385762820

18,9915,453

4663,9291,1111,2112,5211,0181,3121,282

687

4,304

11,498

Petro-leum

66,381

43,762

11,931

25,785

19,098547170531

3,319132

-23252

(D)3,078

(D)124

11,011

6,687117(D)

3,552(D)(D)8837

2,561

3,4842,943

(D)(D)

19,009

5,771

3,020398273

591,013

237367534139

84165

648129

1,910792530

(D)(D)

311(D)(D)

4,2371,6701,400

24623

2,567-4

1,1201,450

2,812(D)

1,079595

(D)

6,188462

-143,251

704101579

7-14857254

3,610

7,334

Manufacturing

Total

126,640

104,759

25,800

67,475

64,9143,486

2538,374

15,97494

4,1116,084

1935,318

1932,567

18,268

2,5621092591

6171,720

52-52

7,073

4,4113,493

211707

21,881

15,902

11,0841,6167,730-221

58515763

1,06193

4,5533,959

278316

264260

106217

(D)(D)

30871410

30237

040

197

4082011632024

5,264563416234329602

1,49333998325648

1,677

Foodand

kindredproducts

12,643

10,168

2,276

6,938

6,659263155543522

(D)641448

01,004

(D)431

2,599

279(D)

02

41(D)

30

365

589435

20133

2,474

2,051

1,46029565338

15332(D)

221(D)

55333379

141

38(D)0

13(D)704

7318(D)

0(D)5500

55

(*)000

(*)350(D)174

2222241296

(D)

259

Chemi-cals and

alliedproducts

26,914

•21,765

4,916

13,189

12,8391,557

(D)1,7031,975

521,0381,050

(D)1,897

-8519

3,008

350105

(D)32

251(D)0

2,093

1,5661,406

6397

5,150

3,496

2,262269

1,54337

1731720

19112

1,11190612679

123(D)0

82(D)70

19

91(D)(D)

0(*)(D)

032(D)

8332(D)(D)(D)

1,48024018419621

213(D)78

273(D)

6

464

Primaryand

fabri-cated

metals

5,662

4,596

1,862

1,984

1,984116

(D)163470

(*)12110521

321(D)61

583

(*)3

(*)(*)3228(*)1

173

577402

6169

774

47689

628(D)5

(D)19662

(D)206

(D)13

(D)000300

(D)

116(D)50

(D)(D)0

-2(D)

442

4002

132136075

14-3(D)20(D)0

124

Ma-chinery,exceptelec-trical

27,344

24,664

2,923

18,787

18,193292(D)

3,3845,095

0761

3,158-6874

(D)740

3,865

5944372

4687301

(D)

(D)264

(D)

131

2,681

2,011

1,910305

1,6200400

-223

102102

00

(*)0000

(*)00

111000000

26(D)(*)(D)1

642126879

(D)

208(D)

18140

2

Electricandelec-

tronicequip-ment

9,784

6,841

2,237

3,869

3,770253

17308839

8368386

(D)168

(D)73

1,238

991006

8390

625

109919

10

2,943

720

32262

117(D)7

20(*)

111(D)

394375

019

500000

(D)(D)

205500

150

(D)(D)

146139

600

2,05840352

24691

96611537917215

139

Trans-portation

equip-ment

17,708

14,859

6,556

7,564

7,644(D)(*)

4364,324

06

1630

(°)(D)(D)

2,188

-80(D)

00

(D)04

(D)

546

192154(D)(D)

2,850

2,689

1,671(D)

1,228(D)(D)130

114-2

1,0181,018

00

00000000

19702

-800g

00000

1600900

-261(D)43

0(D)

127

Othermanu-

facturing

26,584

21,867

5,030

15,143

13,825(D)38

1,8372,751

(D)1,176

774115(D)39(D)

4,787

1,3191713(D)(D)(D)(D)(D)

(D)

(D)741

69(D)

4,717

4,160

2,983(D)

1,942(D)(D)(D)(D)

380(D)

(D)1,020

(D)64

(D)(*)

010080

(D)

710(D)

0(D)-4

0(D)(D)

109(D)

(D)3

(D)

442(D)4218(D)67(D)4858262

566

Whole-sale

trade

31,330

24,900

3,178

17,457

10,6291,522

5621,7261,035

(D)66

1,108(D)

1,90583

5592,035

6,82846

303327209

5,817(D)(D)

2,934

1,3321,017

128186

6,430

2,942

92416939721653378

13426

1,205277901

27

8133183162322(D)66(D)

8128(D)1

(D)53(*)2825

636(D)(D)6040

2,7712,019

(D)(D)5284

150(D)

16149

147

491

Banking

15,354

9,353

608

7,831

5,804504(D)

2741,802-63

(D)28925317767

3952,056

2,02747(D)22(D)

1,88032(°)

343

571(D)(D)

0

6,001

4,312

720361115201

(D)

9-2

7(D)

470(D)

419(D)

3,122901

(D)

6(D)(')

1,91870

18465650

(*)119

16849

-544

(D)1

(D)

1,559489

403

-82371633701358742

327

Finance(except

banking),insur-ance,

and realestate

49,097

35,946

8,851

24,525

16,846708

53244

1,674(D)

1,389446288

2,432(D)21

9,571

7,679230

(D)127

7,1360

(D)

945

1,6241,478

7274

13,150

10,496

1,707158

1,1837896(D)(D)

174-14

2,597198

2,38019

6,192505

17,230(D)

13 5003

1,857(D)

574

(*)04

53230

30

234156

-17(D)(D)

2,3641,849

(D)195111

72180209

(D)

479

Services

6,812

5,069

919

3,758

3,011267389317(D)70

1690

931(D)

3191,219

747241

32-3(D)16(D)

154

238203

232

1,743

874

41284

14937129

(D)

106(D)

2611478430

2011653

420(D)74(D)

8565631

(*)20578

53939

582-6

-76

24576(*)(*)

05332377

1426

629

Otherindus-tries

13,179

9,526

5,592

2,122

1,94543(D)

236663

6(D)

1020

3247

51512

17720.(*)(D)(D)

121(D)3

260

1,552(D)

(D)(D)

2,959

2,040

1,44568

10849(D)(D)(D)

109(D)

502(D)69(D)

939

(D)-24

(D)(D)40(D)

13282(D)3

(D)5139

48

186(*)

163(D)(D)

601-5(*)(D)23

13334(D)2110(D)

693

562

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 52: SCB_081988

50 SURVEY OF CURRENT BUSINESS August 1988

Table 14.—U.S. Direct Investment Abroad: Capital Outflows, 1985[Millions of dollars; inflows (-)]

All countries .

Developed countries

Canada

Europe

European Communities (10)BelgiumDenmarkFrance

GreeceIreland .ItalyLuxembourgNetherlandsUnited Kingdom

Other EuropeAustriaFinlandNorway ..Portugal ...SpainSwedenSwitzerland..TurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentina ,BrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermuda ,JamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan ,

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum — OPEC l

Allindus-tries

18,068

13,669

705

13,622

11,849485149

1,5041,920-3672198548

1,2414,831

1,773-16

71376

1519771

1,04963

1,160

-408-271

42-180

4,226

4,083

-1,05710

-25143

-466-1121821853

69436

-140-227

5,07161

599-1164,092

172543

64

32386369__724

354— 10

-281-62

-7611673

-183-82

1864452

17642

-244-45

371

-43166

173

355

Petro-leum

-1,433

348

1837

1,273

882-85-22113

-31416

-299617

2441,072

391(D)-5299(D)-5

-51(D)-5

2

133

8231(D)(D)

1227

-1,083

-59257-6

6-409

(D)170119

(D)

19-32

86-35

-510-30

-128(D)(D)

-15023

94348333-823

2545

-30143

-2285

-42-192

1

-10-20

(D)191

-26-140-47

(D)(D)

-11104

143

-420

Manufacturing

Total

9,043

8,675

1,034

7,431

7,155319

141,0211,854

-2489795

24522

2,118

276-14

(D)-37

1451

109188

1(D)

553

-34218911

-164

368

293

-33-77185-2-41231

-1227

401430

(D)(D)

-762

(D)735

-16(D)

6

-30

601

-3703

-40

-1025

-11012

20740338

70-24

592452

-51-6

209

Foodand

kindredproducts

1,196

1,156

86

919

908212635

104(*)85680

176392

11(D)

0(*)

5-5

4(D)(*)

0

62

8974

213

40

70

5852-1(*)

-103

-298

1031(D)(D)

2(D)(D)

8(D)02

2100110

(D)(D)

10100

-32(D)(*)(*)(*)

-39-1

42

(D)(*)

(D)

Chemi-cals and

alliedproducts

782

958

-86

1,103

962119(D)

113125

ji'i-49(D)

115257

142

8(D)

-10923

55(D)(D)

72

-131-94

1551

176

143

-93-15-23

2-10

1-446'2

332

237

-83(D)

0-74

(D)-14

01

1(D)(D)

0(*)(D)

07

(D)

-924

-100(D)(D)

58339

-14(*)-8154

29-2-8

(D)

Primaryand

fabri-cated

metals

62

145

69

147

16319(°)2797

0164

(D)2

19

-16(*)(*)

1(D)(D)(D)

00

-38

-33-29-3-2

-83

58

-59-9

-23(D)-1(D)-3

-19(*)

(D)1

— 3(D)

(D)000

(*)00

(D)2110

(*)1012

-25-3(D)

0(D)

-284

(*)(D)(*)

2(D)1

(*)0

-41

Ma-chinery,exceptelec-trical

3,996

3,914

89

3,526

3,21426(*)

665899

087

530-9232834

3129

(*)(*)(D)(D)(D)

600

327

-285

-1-33

82

57

6441230

(*)00

-21

-66

0

(*)0000

(*)00

(*)(*)(*)

000000

1(*)1

(D)(D)25(D)12(D)(?500

(D)0

(D)

Electricandelec-

tronicequip-ment

275

230

109

231

28673

22104(D)36

103(D)1

17

55(D)(D)(D)15

-28(*)22(*)

0

-75

-35153

— 17

46

-37

-6-20

24(D)(D)

2(*)-7-3

-33-15

0-17

200000

(D)(D)

7110

(*)-8

0(D)(D)

34100

87111

(D)58

-1327

-1422

-20(D)

K

Trans-portation

equip-ment

1,065

764

662

97

365(D)(*)56(D)0

(*)-3

0-580

267(D)0

-1(D)

-244(D)

0(*)(D)

144

-139-99

(D)(D)

300

266

-76(D)97(D)(D)1

(D)-78

(D)

342342(*)

0

00000000

1(D)(D)

0(D)(D)

00

(D)1000

-137

0100

3330(D)(*)

0(D)

-77

Othermanu-

facturing

1,666

1,508

105

1,406

1,257(D)(D)

103(D)(D)7452431

518

1492

(D)(D)3

504

91(D)(D)

61

-64-32

(D)(D)

158

140

79(D)88-541(D)(D)21(D)

(D)76

(D)

(D)00

(*)0

(D)0

(D)-27

(D)(D)

0(D)(D)

0(D)

-26

131

(D)(D)(D)

3395

(D)(D)3

7°)-2

1(D)

46

Whole-sale

trade

1,834

1,353

57

1,220

9691431392144154

164(*)

161108

252166978(D)6319-8(D)(*)

196

-121-115

29-34

481

201

• 721

-5-19

3-5161

3858

3

170(D)1619

-6-2(D)(D)

-455

(*)(*)-9(D)-2(D)

96(D)21(D)(*)

187191

8-10

429(D)18-5

1

29

Banking

1,004

1,351

34

1,322

902789

77211-46

4262931

483

4209

(D)(D)(D)690

30511

(*)

-5-4(D)(D)

-257

83

-37110

37427(D)92

— 2(D)

682

74-8

38637(D)-1(D)-2309

1

-6320

(*)-8-1

-169

-94(*)(D)(D)

-106

-240-161

(D)-8

4-77-19

49-57

21(D)

-21

Finance(except

ranking),insur-ance,

and realestate

7,246

2,219

120

1,897

1,56431(D)-6901

(D)7512

272843

333(D)

0(D)(*)

4-7312

017

179

235931

5,027

4,865

-3127

-526

-3(*)(*)

— 54

16610

1 AA.

-12

5,062-63686

(D)4,245

(*)224

(D)

24660

(*)-30

0-19

868

14(D)(D)

100108(D)6

-17

-7-4

2(D)(D)

79

Services

278

234

37

167

69-6

72624(*)10200

-3873

985

(*)44

191

44(D)(D)

53

-23-22

1-1

44

65

62151

(*)(D)

-12(D)

191324

5213331

(*)(*)-3

9

911121

(*)2

(D)3

555

337

19

25(D)(*)(D)0

(D)-1

5-4

1(D)

-72

Otherindus-tries

7

184

151

312

3093

(D)6061(*)(D)10

49135

34

(D)(D)14

(4(D)(*)

46

-23-29

12-6

-209

-341

-17-10-2

7(D)(D)(D)27(D)

-311-24

(D)(D)

-13(D)-4-1(D)-2

3(*)

-7762

-2-14-8(D)(D)

221(D)(D)

2(D)

-82(D)(*)

-155

(D)

7°)(D)(°)63

31

260

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 53: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 51

Table 15.—U.S. Direct Investment Abroad: Capital Outflows, 1986[Millions of dollars; inflows (-)]

All countries

Developed countries

Canada

Europe.. .

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourgNetherlandsPortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther-

Other Western HemisphereBahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsrael.Saudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth Korea . .Taiwan . .ThailandOther

International

Addendum— OPEC *

Allindus-tries

27,811

19,803

2,644

15,376

12,825144

-1571,2633,357

-469941941

4,41032

3702,252

2,55010327

40361

2,2356

79

1,982

-1981806445

8,804

7,360

88021011375

-52126

-104531-18

207-134

394-53

6,274-1,027

1,742-16

5,302-117

284106

31-211-112

14113180

-51538307

516-112

5665

506

959645657936

11419563

1003

110

795

1,201

Petro-leum

3,964

2,664

372

2,029

1,333-26

-213-113

715-13

(D)-256

(D)1,393-3

5137

697(D)(D)

546(D)(D)1

35

417

-15598(D)(D)

2,067

1,076

604-5-3

43

(D)-58590(D)

-4810

-19-20

5203

612(D)-3

-93(D)

2

144234

-13012

117379-37593177

826(D)8143(D)

21429

18902141

46

-70-45

768

1,425

Manufacturing

Total

9,838

8,941

1,491

6,511

6,572-289-39

1,0641,925

11542957

41,060

225

1,364

6143(D)

19076

1513

(D)

1,009

-71527

25

897

425

522181323

2(*)121

1923

32701622

657

(D)143

26(D)(D)

709305

790

-3940

2944

-393

21

51315463

10447

3344294758

79

Foodand

kindredproducts

1,469

1,472

352

1,057

9746

22128

-83(*)56

1120

2818

74370

83(D)

0(*)(D)(D)(D)

0

30

3341

29

-3

-33

-927-7

3732

445

18455

22

-6(D)(D)

(D)(*)

0-9

6100140

(D)(D)

10

-100

26(D)(*)(*)

I22-1-9

9(D)(D)

(D)

Chemi-cals and

alliedproducts

1,932

1,802

70

1,399

1,38031(D)90

24812

197265(D)

3815

4899

1931

(D)(*)12(D)(D)

315

18202

-3

130

-6

7049832

38(*)5

352

-28-23-1-4

-48(D)

0-16

(D)-26

0(*)

-18330

(*)-21

018-3

14

-10(D)(D)

15439224

(*)15246

523

-11

(D)

Primaryand

fabri-catedmetals

571

650

189

200

210(D)5

14138(*)15327

45(D)(D)50

10(*)(*)

10100

30

231232

1-2

-79

16

6(D)18(D)

4(D)(*)18-1

(D)-34

(D)(D)

(D)000

(D)00

(D)-12

(D)(D)

0(*)(D)

0

^(D)46

I(D)

0(D)

-5-7

4(*)(D)

-2(D)(D)(*)

0

-27

Ma-chinery,exceptelec-trical

3,675

3,543

89

3,046

2,960-1(D)

545826

095

813-7237

(D)

(°)

336

86(D)(*)

0(D)(D)

00

410

-234(*)32

132

(*)

6721940

(*)0071

-67-67

00

(*)0000

(*)00

(*)(*)(*)

000000

10(D)1(D)(D)

122(D)8

(*)(D)

084(D)13(D)

0

(D)

Electricandelec-

tronicequip-ment

-1,374

-1,590

114

1743

1367-281-73

7-416

(D)51

-495(D)30(D)

17055

376(D)(D)(D)

2106

20

109

-71592

-13

215

-86

-59(D)67(D)(D)

2I

18(D)

-9-15

06

-1800000

(D)(D)

-10(D)(D)

0(*)(D)

0(D)(D)3632400

276379

(D)-82

(*)222

132646(D)

12

Trans-portation

equip-ment

1,914

1,388

636

947

974(D)'(*)67(D)0

(*)2903

(D)204602

27(D)(D)

0(D)

0(*)(D)67

-262184(D)(D)

526

501

34392

162(D)(D)10

39(D)

159159

00

00000000

(D)(D)(D)

0(D)

-1400

-14

(D)000

(D)22010027

(D)30

(D)

41

Othermanu-

facturing

1,651

1,676

40

1,605

1,441(D)(D)

214(D)(D)

127202

(*)148

411548

16412(D)(D)

163(D)(D)

48

-1831(D)

(D)

-24

65

105277634

(D)29

(D)

(D)46(D)(D)

(D)0010

(*)0

(D)(D)(D)(D)0

(D)250

(D)(D)

(D)(D)(D)(D)

^-81-76

3(D)(D)

6-1(D)(D)2

(*)

-2

Whole-sale

trade

2,352

2,281

47

1,828

1,19921482

252222

14-4142(*)

26014

107-105

628(D)333133

617(D)

2

320

87316

49

71

42

-119

2524

(*)(*)51(*)

9139

140H

3833106

38(D)(D)(D)

-14(D)22(*)(D)(D)(D)(D)

-17

57(D)31(D)(D)

100145(*)(D)-3-8-6(D)25-8

3

-48

Banking

-529

668

23

570

283103

131

281(D)(D)

-4691662(D)56

193

28815(D)(D)(D)

2725

(D)

14

6154(D)(D)

-1,197

-873

-20220

-26651(D)

9-3-4(D)

145(D)

121(D)

817993

(D)1

(D)(*)

1594

1815

-150

(*)3

-14

-7

-148(D)(D)(D)

158

158-85

(D)27

-2759

-9120

-16-5(D)

-14

Finance(except

banking),insur-ance,

and realestate

12,251

4,763

577

3,982

3,020123(D)60

184(D)

16141(D)

1,5901

-5828

962(D)0

(D)8

93109

151

533986

7,488

6,937

105-135595

(*)(*)12-5

92-17113-4

6,740-46

1,193(D)

5,317(*)

153(D)

31(D)-2

0(D)(D)290

(D)

-77-59

(D)(D)(D)

597556

1196

-2-24936

(*)

-25

Services

219

296

90

204

17693

46-69

(*)3

210

31(D)

(D)

-20

28-12

(*)-11-6(D)(D)(D)

26

-242905

77

-74

2617-6

3(D)(*)(D)9

(D)

-10-21

92

-89-5

-83-1-1(D)(*)(D)

156

(D)(D)-3(D)(D)

4

231222(D)(D)

2835(*)(D)(D)32

(D)(*)1

(D)

18

Otherindus-tries

-283

191

44

251

24311(D)15997

(D)-16

013(D)(D)

129

9(D)-1(D)(D)(D)-4(D)

45

-149-125

5-29

447

174

165-13

646(D)(D)(D)

(D)

-31(D)14(D)

23-12

(D)-7(D)

(°)

230

-10633

(D)(D)

-110(D)(D)(D)

-81(D)(D)(D)(D)

8637(D)(D)

(D)

-1(D)(*)

4(D)

-28

-77

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 54: SCB_081988

52 SURVEY OF CURRENT BUSINESS August 1988

Table 16.—U.S. Direct Investment Abroad: Capital Outflows, 1987[Millions of dollars; inflows (-)]

All countries

Developed countries

Canada...

Europe

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourgNetherlandsPortugalSpainUnited Kingdom ,

Other EuropeAustria .. .Finland ...Norway . ... ..SwedenSwitzerland . ...TurkeyOther

Japan

Australia, New Zealand, and South Africa-AustraliaNew ZealandSouth Africa

Developing countries

South AmericaArgentina .BrazilChileColombia.EcuadorPeruVenezuelaOther ...

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermudaJamaica ,Netherlands AntillesTrinidad and Tobago ...United Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EgyptLibyaOther ....

Sub-SaharanLiberiaNigeria ... ...Other ...

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum — OPEC *

Allindus-tries

44,455

34,109

6,358

23,724

20,8691,637-1532,0493,333

20983

1,357-19

2,43987

1,1867,950

2,855-55

92428180

2,1308

88

2,639

1,3881,157

109122

10,507

7,166

474-86669-712294054

-25

789241446101

5,903199

3,462-16

2,587-16180

-96

687-130

189563

8173

627187

18619239988

-316

2,4691,451

83-475

1348

321206442196184

161

476

Petro-leum

4,657

4,109

920

1,896

1,44056

30960205

(D)-16

(D)7

(D)53

1,760

45630(D)

302(D)(D)

-1348

-51

1,3441,329

(D)(D)

564

15

-287-69

376

-11-21-71

-12532

21223

16326

9054

121(D)(D)

(D)(D)

76654

-10551-1820

2621197

56(D)

17393(D)

-1616818

-5169

-5111(*)-213719

16

100

Manufacturing

Total

20,087

18,302

2,351

14,130

13,66275673

1,8082,815

14741

1,086-8182978

1,0474,497

467-105

23666

4361121

1,543

2781483397

1,785

963

70420

501551753

12611

2451972721

157

(*)125

-4(D)(D)

225

-106

170

-118

1324593

786120437

1214

14081

33733(*)

123

Foodand

kindredproducts

1,630

1,606

225

1,107

1,057603364

-12(D)

104990

161(D)

126416

50(D)

0(*)(D)(D)(D)

0

207

6763(*)

24

21

5020

-842230

4(D)48(D)

79933

11

8(D)02

(D)102

34

(D)0

(D)3000

30

00000

10(D)(*)

3774

11(*)(D)

53

Chemi-cals and

alliedproducts

4,093

3,502

82

2,820

2,778246(D)

508260

9300215(D)

3658

80812

433

(*)(D)3

30(D)(D)

498

102766

21

592

330

179-7153

128

-1572

152128

177

-1(D)(*)

9(D)-5

0(*)

(D)(D)

0(*)(D)0-1

(D)-16

4(D)(D)(D)

274592532

26(D)7

68(D)6

-15

3rimaryand

fabri-cated

metals

219

129

120

160

-155(D)(D)

-302(*)23

-22-443(D)2466

-6(*)(*)(*)124

(*)1

42

127952

31

90

56

38(D)67(D)

-38(D)15

-1

(D)14(D)(D)

(D)000(D)00

(D)-4(D)(D)

0(D)(D)0

^(D)

7-2(D)0

(D)

31118

(*)(*)1

-1(D)(D)(D)0

15

Ma-chinery,exceptelec-trical

4,691

4,352

393

3,324

3,27669(D)

5201,004

0138418-9-4(D)

1421,000

49(D)-1

254(D)

01

(D)

(D)-118

(D)18

339

259

30612

3190

(*)00

-261

-47-47

00

(*)0000

(*)00

(*)(*)(*)

000000

(*)(D)-2(D)(*)80(D)116

(D)-3

-37(D)88100

21

Electricandelec-

tronicequip-ment

1,419

1,238

207

878

843761718

1862

5044(D)41(D)19

333

34(*)

00

-13420

150

342

-3

182

187

233(D)

-259(D)(D)(*)(*)24(D)

413902

500000

(D)(D)

1(D)(D)

00

(D)0

(D)(D)2021-2

00

34817-8(D)8

-912128

16722(D)

22

Trans-portation

equip-ment

3,456

3,452

969

2,721

2,807(D)0

421,239

0(«)

1080

(D)(D)(D)

750

-86(D)(D)0

(D)0

(*)(D)

153

-85-87

(D)(D)

4

17

-24(D)

-11(D)(D)10

13(*)

414100

00000000

(D)(D)(D)0

(D)-2

002

(D)000

(D)-12

0

002

-39(D)

0(D)

14

Othermanu-

'acturing

4,578

4,024

355

3,440

3,056(D)13

651439

(D)12622450(D)10(D)

1,119

384-43

(D)(D)(D)(D)(D)(D)

(D)

(D)115(D)(D)

554

508

388(D)

316(D)(D)(D)(D)54(D)

(D)115(D)(D)

(D)0010

(*)0

(D)(D)(D)(D)

0(D)120

(D)(D)

(D)(D)(D)(D)(D)

55(D)8

(D)(D)

-10(D)19(D)-3(*)

55

Whole-saletrade

5,040

4,306

564

2,915

2,01415262

19761(D)

34223

(D)71331

110442

901(D)725653

718(D)(D)

754

73225

46

733

170

501

-33-23

85

15-24

1

49-78121

5

1725750-416(D)39(D)

-36-15

(D)1

(D)-21

(D)(D)-1

66(D)(D)7

(D)

533398

(D)(D)-221

-37(D)1110

121

-19

Banking

604

790

34

554

144111(D)

-64194(D)(D)

-107

-1222359

-61

41012

<2(D)

409-11

(D)

151

51(D)(D)(D)

-186

404

805

4736(D)67

-4(D)

145(D)

-154(D)

-339309

(D)(*)(D)(*)

-372

-69-80

800

_112-4142

-156(D)(D)

-11(D)

443166

514

-9-77288861316

20

Finance(except

>anking),insur-ance,

and realestate

13,829

6,689

2,202

4,196

3,718478187

150(D)

29067(D)

674(D)-1

1,979

478(D)

0(D)19

4460

(D)

96

1951661911

7,140

6,228

69-18109

412(D)(D)

-49-4

28115

266(*)

5,87897

3,053(D)

2,558(*)

176(D)

14-1-1

0(*)1524

0-9

8369(D)(D)(D)

815702

(D)29(*)3719651

(D)

g

Services

1,947

1,052

64

907

743995

-2611(D)89600

320(D)(D)

322

16425(*)

6-5(D)(D)(D)

36

463907

894

352

518

215

(D)(*)(D)19(D)

4942

43

25117

234-1

1(D)

(D)

121010(*)(*)

2111

49024

470(D)(D)

4132(*)-1

05

11(D)(*)1

(D)

489

Otherindus-tries

-1,708

-1,140

223

-874

-853-15

(D)66

122-1(D)

-520

17(D)(D)

-988

21(D)

0(D)(D)31(D)(D)

110

-599(D)(D)(D)

-423

-158

-93-34-12-89

(D)(D)(D)

3(D)

99(D)20(D)

-163(*)(D)

-28(D)(D)(*)(D)

-235

(D)3

(D)-28

(D)(D)

-22

-254(D)

-245(D)(D)

1135(*)(D)

2-16

6(D)

42

(D)

-145

-246

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 55: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 53

Table 17.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1985[Millions of dollars; inflows (-)]

All countries

Developed countries

Canada

Europe

European Communities (10)Belgium ,DenmarkFranceGermanyGreeceIrelandItalyLuxembourgNetherlandsUnited Kingdom

Other EuropeAustriaFinlandNorwayPortugalSpainSwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...Australia ....New ZealandSouth Africa .

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermuda....JamaicaNetherlands AntillesTrinidad and Tobago....United Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EffvotLibyaOther

Sub-SaharanLiberia i.NigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong Kong

IndonesiaMalaysiaPhilippines,

South KoreaTaiwanThailandOther

Addendum — OPEC l

Allindus-tries

2,210

945

-2,625

1,321

1,21423(D)82

102(D)25319

-1351,045

10632

2029

(D)(D)

-44-1(*)

169

191227289

1,276

-1,646

5671236416(D)

2-81-2(D)

9310232

-42

-1,171(D)

-73(D)

-860-75

1622

19837(D)(D)(D)

161(D)(D)65

-1566

44-162

44

328-37

4232

8-85

3919

-4-15166

11

-24

Petro-leum

2 594

2 510

-2,733

149

410

(D)010

(D)-7

0-191

204

10800

1795

(D)(D)(D)-5

0

7

67680

-1

111

684

6055030

(D)2

-83(*)(D)

0000

-79(*)

000

-750

-4

21929(D)(D)(D)

190(D)(D)

115

700

137-122

55

284(D)

2201

0(D)-9

00

(D)149

27

158

Manufacturing

Total

287

246

70

123

157250

196902

34(D)(D)(D)

342014

21-16

(*)00

3

49(D)(D)-5

41

9

3966

-1101701

-63

(D)580

(D)

(d)0

(D)(D)

000

-5

190000

-190

(*)18

11000

68471

14(D)(D)

243

161

8

Foodand

kindredproducts

133

(D)

(D)

(D)

(D)(D)

0(*)

00

(*)(D)032

-22000

(*)0000

(*)0000

(D)(D)(D)(D)120

(*)0000

0000

(D)0

(D)0000

-5

(*)0000

(*)0

(*)0

00000

00000000000

(*)

Chemi-cals and

alliedproducts

238

162

(D)

91

8410

(D)3700

140

-4(D)

8000080000

(D)(D)

-12(D)(D)

76

22

(D)(D)120501

-60

11110

(*)

(D)00

(D)0000

(*)0000

(*)00

(*)00000

5347

25000030

(*)

-1

Primaryand

fabri-cated

metals

9

41

(D)

(D)

(D)00

(D)

000

(D)0

(*)(D)0004

(D)0000

-3

-1(*)-2

0

-51

51

(D)(D)200200

-20

(D)(D)

00

00000000

000000000

00000

00000000000

-2

Ma-chinery,exceptelec-trical

27

23

5

19

1600

(D)800

190

(D)-24

3000030000

0

9(D)

0P)

4

3

(*)02000020

2200

00000000

000000000

00000

10000010000

2

Electricandelec-

tronicequip-ment

-131

-22

(D)

(D)

172004004008

(D)0000

(D)(*)000

27

-800

-8

-109

(D)

(D)(D)95100000

1100

00000000

000000000

11000

(D)00

(D)00040

-160

(D)

Trans-portation

equip-ment

35

-40

(D)

(D)

1003

(D)00

(D)0

(D)0

(D)0000

(D)0000

0

0000

75

(D)

(D)(D)

40

(*)0032

(D)(D)00

00000000

000000000

00000

(D)0000

(D)0000

(*)

3

Othermanu-

facturing

-6

(D)

(D)

-16

(D)(D)

0-10

(D)02

1100

21

(D)0010

(D)-16

(*)00

(D)(D)(D)01

(D)7

8740000

-3(*)

-1(D)

0(D)

00000000

180000

-1800

18

00000

(D)01

(D)(D)010

(*)00

(D)

Whole-sale

trade

179

163

2

19

55-12

033282010

(*)3

37(*)

(D)0

(D)(*)(D)

00

(D)(D)(D)

0(*)17

(D)

12

(*)0000

(*)0

(D)(D)00

31000000

31

(D)0000

(D)0

(D)0

-2(*)00

-2

(D)22

0(D)(D)0

(*)0

(*)(*)

0

4

Banking

756

574

8

568

475(D)1

2511(D)(D)

2(D)(D)

397

9353

(D)(*)10

(D)4

(*)

-50

484800

182

165

927

(D)130

(*)13

(D)

(D)5

40(D)

(D)(D)0

(*)

01(*)1277004104

60028

11(D)

4-2(*)

251

9-720(D)

4

Finance(except

banking),insur-ance,

and realestate

329

829

186

479'

521(D)12

(D)(*)

010

(D)460

-4200

(*)000

4200

(D)

(D)134(D)(*)

-1,158

-1,172

-13(*)(D)8

(D)0010

1421

-15

-1,145(D)(D)

-46-864

015(*)

611007

(D)0

(D)

(D)20

(D)-1

(D)-2

0(D)

00

-12000

23

Services

236

30

-1

30

-370

(*)220000

-413

700

(*)0

(•*)0700

(*)(*)

01

-206

(D)

(*)0

(*)000000

(D)(D)00

00000000

000000b00

(D)0

-179(D)(*)(D)

(D)000034000

(D)

Otherindus-tries

274

217

158

13

1(*)

0(*)(D)0000

(*)(D)11000001

1000

(*)-71

670

-5

-42

-17

-41

(D)-6

7000

(D)-14

(*)-7-7

10

(*)10000

(D)0000

(D)00

(D)24

-100

(D)00

(D)1(D)000

(D)(D)16

>)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 56: SCB_081988

54 SURVEY OF CURRENT BUSINESS August 1988

Table 18.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1986[Millions of dollars; inflows (—)]

All countries

Developed countries

Canada

Europe

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourg ,NetherlandsPortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew Zealand ....South Africa..

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuador ,PeruVenezuela ,Other

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamas

JamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EervotLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

Addendum— OPEC l

Allindus-tries

274

682

-273

-282

179-160-173-227-603

(D)15

-1,368-7(D)(D)

-85929

462(D)(D)

-136-6

-2266

-1

-149

22(D)(D)96

966

292

29724

-5482

-12(D)-4312

(D)

56392913

61721277-6786

(D)-16

(D)

-723

22-12-87511(D)(D)

76913

20746

-23309

3-144

-9-41-46

42-33

(D)(D)

10

100

Petro-leum

1,541

679

320

272

1930

(D)0003

(D)0

(D)0

(D)123

7900

760030

(D)

(D)(D)30

0

887

463

(D)(D)10

(D)(D)

0391

(D)

1100

(D)0000

(D)0

(D)(D)5

24-11-8(D)

0(D)77

(D)0

(D)-7(D)

-238(D)

0-82

00

(D)00

(D)20

26

217

Manufacturing

Total

3 216

2977

-315

-2,502

-2,060-414-80

-227-563

8(D)

-5790

-43(D)

-45-112

442(D)(D)(D)(D)

-12200

-184

25850

60

-240

-127

-14512

-73(D)

-110

-3(D)(*)

404000

2200

(D)000

(D)_2(*)

00

(*)200

-2

(D)0

(D)00

(D)(D)(*)0

-5-6

-3029(D)

2(*)

-73

Foodand

kindredproducts

-14

73

(D)

43

431

(D)000

(D)0

(D)060

00000000

-1(D)

60

(D)

88

-80

(D)0

(D)0

(*)0000

(D)(D)00

(D)000000

(D)000000000

(D)0

(D)00

(D)0000

(*)0

(D)000

(D)

Chemi-cals and

alliedproducts

549

463

(D)

470

-467(D)

0-268

(D)00

130

(D)0

(D)-54

-30003000

38

(D)40

(D)

86

-88

-703

-570

(D)02

(D)0

(D)(D)

00

(D)00(D)0000

000000000

00000

20000

(D)-16

0(D)

0(*)

(D)

rVimaryand

fabri-catedmetals

133

183

(D)

(D)

(D)00

-3100

(*)0

-1(*)

0(D)

00000000

-3

218237

019

-50

-50

-163

19010000

353500

00000000

000000000

00000

00000000000

0

Ma-chinery,exceptelec-trical

-42

-53

11

45

5400

(D)300

(D)000

(D)-22

9000

(D)(D)

00

(D)(D)330

(D)

11

(D)

202000000

(D)(D)

00

00000000

000000000

00000

(D)0

(*)0

-40

(D)(D)000

0

Electricandelec-

tronicequip-ment

2 322

2 264

-63

-2,105

-1,669(D)(D)-2(D)81

5510

(D)(D)(D)

0

-436(D)(D)(D)

0(D)

00

(D)(D)(D)

0-9

58

(D)

(D)0

-3(D)

00

-100

(D)(D)00

00000000

2(*)

00

(*)200

-2

00000

(D)000

-1-5-3

6(D)

20

0

Trans-portation

equip-ment

118

-28

(D)

(D)

(D)001000

(*)0003

(D)

00000000

10

(D)(D)0

(D)146

156

(D)2

(D)0

(*)000

(*)(D)(D)

00

00000000

000000000

00000

-100000

(D)(D)9000

0

Othermanu-

facturing

540

425

265

-16

-2200

(D)70

(D)(D)

000

(D)-37

60000600

(D)

(D)-24

0(D)

-115

(D)

50480

(D)0

-4(D)

0

(D)(D)

00

00000000

(*)0000

(*)00

(*)-1

0-1

00

(D)(D)000000000

(D)

Whole-sale

trade

113

73

24

-97

-130(D)0

(D)-25-1

0580

(D)04

-51

33(*)

0(D)(D)(D)

00

15

3429(D)(D)

-40

(D)

(D)(D)(D)0

(*)0020

(D)(*)(D)

0

(D)000000

(D)(*)(*)

0(*)

00000

(*)000

(*)(D)(D)

000

(*)(*)

0(*)

00

2

Banking

-536

-92

2

112

-69(D)9

1045(D)(D)

-591(D)(D)

(D)326

-436000

-5131

1

171430

-443

-581

123(D)31(D)

251

(D)

334

29(*)

-737(D)0

(*)10

(D)

-61100

-5(*)3

-1

8500

(D)(D)

59143

(D)-5(D)(D)(D)(D)(*)(D)

17

Finance(except

banking),insur-ance,

and realestate

3,209

2,208

-28

2,319

(D)(D)(D)30

2(*)

-50(D)(D)(D)

05

590

(D)000

(*)(D)00

8

-91-91

0(*)

1,001

636

231

(D)(D)

000

-210

-14-8(D)(D)

627(*)

277(D)

7850

(D)96

(*)(*)n00

-i00

-1

(D)00

(D)1(D)

3700

2110

(*)(D)

0

0

-25

Services

-193

-205

-10

-180

-13039

(D)(D)

00

(D)0

(D)0

(D)1-50

00

(D)(D)

-32(*)

0

(D)

(D)(D)

0(D)12

1

-2-1(*)

000000

3300

00000000

000000000

(D)1(D)00

(D)(D)000000000

(D)

Otherindus-tries

418

222

-216

18

(D)(*)

00

(D)00

(D)010

-352

(D)000

(D)000

0

-23100

-33

-212

(D)

47(D)(D)

2(D)(*)

2(D)0

(D)00

(D)-15

(D)0

(D)0002

(D)0000

(D)-110

(D)(D)

0(D)

00

-8200(D)0

(D)00000

16

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 57: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 55

Table 19.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1987[Millions of dollars; inflows (-)]

All countries

Developed countries

Canada

Europe

European Communities (12)

DenmarkFrance

Greece ...IrelandItalyLuxembourgNetherlandsPortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamas ,BermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EffVDtLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther . . .

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

Addendum— OPEC l

Allindus-tries

2,470

772

408

798

789-37

(D)228

-387(D)(D)

12436(*)104

1,200

9-47

047-4232

-7

-280

-153(D)(D)

-61

1,718

392

-18-24110

-69-23

6(*)

-3213

91100(D)(D)

320(D)(D)

2-928

3-9

-82

2973

(D)0

(D)295-4(D)(D)

211-10

(D)53(D)

817950

16343

3264460175251

-20

156

Petro-leum

1,589

1,253

-26

(D)

5770

(D)(D)(D)

00

(D)0(D)0

(*)911

(D)00

3800

(D)0

0

(D)(D)00

(D)-14

-10(D)

0500

-7(D)

(D)(D)00

(D)000030

(D)

(D)(D)

0(D)(D)

0(D)5

(D)0

(D)(D)(D)-261

3(D)(D)

00(D)00

(D)38

(D)

172

Manufacturing

Total

205

116

188

117

138(D)0

219-229

(*)-4110(D)

-221

-16299

-22(D)00

(D)(D)1

(D)

106

-82-78

05

89

77

101414(D)

-2800

-11(D)

67(D)0

(D)

00000000

(D)0000

(D)0

(*)(D)(D)(D)500

182

(D)-2

585

378

(D)0

-19

Foodand

kindredproducts

59

141

.(D)

107

107(*)

04

(D)00

(*)000

(*)(D)00000000

-3

(D)(D)00

81

(D)

-461

(D)(°)

000

(D)(D)(D)0

(*)00000000

000000000

00000

(D)000

-3(D)

00000

0

Chemi-cals and

alliedproducts

42

62

60

17

15102900

(D)(D)(D)

0(D)0

32000

(D)0

(D)-3

-12120

(*)

20

10

2515(D)0

-100

(D)0

151500

00000000

000000000

(D)0

(D)00

(D)00

-20000

(D)00

-42

Primaryand

fabri-cated

metals

-204

-162

(D)

(D)

206(*)

04

(D)00

(D)1000

(D)(D)

000

(D)000

0

(*)(*)

00

-42

(D)

(D)(D)93

(D)0000

(D)(D)00

00000000

000000000

(D)0

(D)00

00000000000

(D)

Ma-chinery,exceptelec-trical

8

-38

29

-84

-8200

57505

(D)000

(D)2

-20000

-200

(D)

(D)(D)0

(D)46

39

260

26000000

131300

00000000

000000000

00000

70

(D)0000

(D)000

0

Electricandelec-

tronicequip-ment

52

g

(D)

-31

-3100

(D)(D)(*)

05000

(*)(*)

00000000

(*)(D)

00

(D)61

(D)

100

(D)0000(D)0

(D)(D)0

(D)00000000

000000000

(D)(D)000

13000

-2(D)-5

4(D)

00

5

Trans-portation

equip-ment

-78

204

26

100

-10000

(D)500

(D)0

(D)05

(D)

00000000

(D)(D)(D)

0-1126

111

(D)0

(D)0

(*)0040

(D)(D)00

00000000

(D)0000

(D)00

(D)00000

(D)000000

(D)000

4

Othermanu-

facturing

325

326

2

(D)

437(D)

0(D)(D)

01

(D)031

(D)287

(D)(D)000

(D)10

(D)-2

00

-2

-1

(D)

(D)(D)(D)0

(D)00

(*)0

(D)

(D)00

00000000

-40000

-40

(*)

00000

(D)200020

(D)0

(D)0

(D)

Whole-sale

trade

96

79

8

37

604

(D)

74040

-20

(D)27

-22(D)

06

(*)(D)(*)0

(D)

(D)(D)06

17

1

(D)17(D)010000

(D)(D)00

00000000

0.00000000

00000

1700

-50

(D)(D)0003

-5

Banking

567

-131

(D)

-32

-96(D)(*)20(D>(D)(*)

712(D)(D)

229

64(D)

030

53(D)0

6

(D)0

(D)(D)

698

464

1222

(D)(D)

06

(*)(D)5

(D)(D)48(*)

(D)(D)0

(*)(D)

0-9

2

-28(D)(D)

00

(D)-4

0(D)

21002

19

241(D)3

(D)(*)1354239

(D)8

29

Finance(except

banking),insur-ance,

and realestate

2,087

1,212

414

1,107

(D)(D)(D)(D)60

(D)(D)(D)(D)(D)(D)

920

(D)101

(*)(D)0

(D)(D)(D)(D)

0(*)

875

49

-23-5(D)(D)

000

(D)0

-39-6(D)

(°)

111(°)(°)(*)(D)

0(*)-1

000000000

(D)(D)(*)(D)0

(D)(D)0

(*)20

(*)0010

(D)

Services

191

162

-3

125

125001

-20000

(D)0

(*)(D)00000000

(D)(D)(D)0

(D)29

28

(D)0

(D)000000

(D)(D)00

00000000

000000000

10100

00000000000

1

Otherindus-tries

2,265

-1,918

(D)

(D)

(D)00030010

(D)00

(D)(D)000

(D)(D)00

(D)-642-642

0(*)

(D)

-213

(D)(D)

0(D)

00000

0000

(D)001000

(D)(D)

0000

(D)0

(D)(D)22

-100

(D)0030

(D)00003

(D)

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 58: SCB_081988

56 SURVEY OF CURRENT BUSINESS August 1988

Table 20.—U.S. Direct Investment Abroad: Reinvested Earnings, 1985[Millions of dollars]

All countries

Developed countries

Canada. . ...

Europe . .

European Communities (10) .Belgium . . .Denmark . .FranceGermanyGreeceIrelandItaly . . . .LuxembourgNetherlandsUnited Kingdom

Other EuropeAustriaFinlandNorwayPortugalSpainSwedenSwitzerlandTurkeyOther

Japan .. .

Australia, New Zealand, and South Africa ...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther.

BahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EffvptLibya .Other

Sub-SaharanLiberiaNigeriaOther.

Middle EastIsraelSaudi Arabia ...United Arab EmiratesOther ....

Other Asia and Pacific.Hong KongIndiaIndonesiaMalaysia . . .PhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC 1

Allindus-tries

19,009

16,243

2,001

13,644

11,375623212

1,1012,722-53676792

221,4553,825

2,2691268

18237

183169

1,61215-9

1,027

-430-304

34-160

2,842

1,882

-227-91-56

46715

-52-53-60

182357

-127-47

1,927149480

24802-6450432

7599399535

-24-49211185

18551

17980

124

70012749

1748972

15610624

114-66

76

738

Petro-leum

2,594

2,475

738

1,540

1,2503237

-26266

(D)-1(D)(°)

363679

291(D)-588

-221

(D)(D)(D)(D)

115

81(D)5

(D)

150

-164

12-31-8

6106(D)

-49(D)-3

98

2425

1672

323

(D)(D)(*)

2

111742287

^3538(D)

183(D)

-17•(*)327055

22029(D)

198(D)

-28-68

(*)-788

-61

32

510

Manufacturing

Total

10,054

9,118

952

7,998

7,63530226

9092,051

-4405737-8743

2,473

363181

(D)2661

128(D)(*)

-34

602

-434-275

4-163

936

579

232-81377

3-31

13-9

-32-3

357351

(D)(D)

1020

-235

-91

15

-95302

-140

1428

99(D)

-114(D)3

465103315(D)(D)

314326322-6

-130

Foodand

kindredproducts

971

920

64

844

7991

265973(*)87440

150360

45(*)

0(')5

(D)(D)(D)(*)

0

25

-13-9

2-6

51

96

643923(*)-7

3-2

44

2323-2

2

8(*)

0(*)3104

410013011

10100

492

(*)(*)(*)

-52-2

23

-1(*)

g

Chemi-cals and

alliedproducts

970

945

-68

1,021

956351

79116

98(D)(D)

284348

65(*)(*)

63

315

29(*)3

72

-79-36

446

25

47

92

672

3624

212

6737(D)(D)

2920

231

-1001

-11100

-207

-9

-92(D)(D)13

70(D)12

-15(*)

7(D)

311

-9

(D)

Mmaryand

fabri-catedmetals

198

212

62

210

230122

14149

018(D)(D)1227

20(*)

0_1

213-8

400

32

-27-25

1_1

13

15

1412331

(*)27

(*)

263132

3000

(*)003

-2110

(*)-2

01

-1

-24(D)(D)0

(*)

-2-8

41

(*)1

-211

(*)0

(D)

Ma-chinery,exceptelec-trical

4,043

3,913

86

3,550

3,23812(*)

586959

0104539-7208838

312(°)(*)

0(D)(D)(D)500

(D)

(D)-59

(*)(D)

130

77

8423630

(*)00

-31

-7-7

00

(*)0000

(*)00

(*)(*)(*)

000000

(D)1(D)(*)(D)(D)10(*)(*)0

470

(D)

c

(D)

Slectricandelec-

tronicequip-ment

637

366

119

312

313(D)-71999(*)3890(D)-844

-13

-1(D)15

-33(*)(D)(*)

0

-55

-10-5-1-3

271

62

71-9802

-32

(*)4

-3

-1140

-16

20000011

^3110

(*)50

(*)-5

55

(*)00

2081024

213

130-931151

11

Trans-portation

equip-ment

1,614

1,282

547

704

887(D)

063

3560

(*)(D)

0-4425

183(D)

00

(D)-163

70

(*)-32

(D)

(D)-69-2(D)

332

163

-25(D)971

(D)

0-51-6

188188

00

00000000

^21

00300

-3

00000

1710

00

(D)(D)(D)(*)

2

-50

Othermanu-

facturing

1,619

1,480

142

1,358

1,212168

390

298

623822

102431

1465124

3010981

(*)

79

-99723

30

140

120

43(D)524

(D)

(*)29(*)

717515

600

(*)0

(*)06

= 5= 1-1

0(*)-4

07

10

(D)2

(D)-1-1

(D)9r

-4(D)

-2(D)(D)1

-1

43

Whole-sale

trade

1,952

1,626

85

1,423

69814013211616(D)(D)42(*)

144102

725106972193622

480(D)(D)

153

-35121336

326

107

-4(*)

6-9(*)

2-4-1

1

554713-5

561712(D)6

(D)-2

2

-1111

(*)(*)

-12(D)(D)11

80(D)(D)

2

150137

6— 2(D)20(D)16

— 43

49

Banking

355

801

11

783

424658

48200-63

(D)(D)321791

360441

10680

277-5

1

51

-44(D)-1(D)

-445

-83

-4643

-43514(D)(D)-3-5(D)

27-334-5

35310(D)

7°)(°)308-1

-205

-50

(*)-15

-163

-88(*)(D)

-12(D)

-254102(D)-5

47971(D)

-5011

-24

Finance(except

>anking),insur-ance,

and realestate

3,224

1,671

90

1,488

1,03264(*)23

1451

(D)(D)(D)

129330

456(D)0

(D)(*)

2(D)

4320

20

72

209

101

1,554

1,467

612-2

251

(')5

2106

2084

1,671102457-2902(*)(D)(D)

-21220

(*)-23

0(*)

387

-9(D)(D)

69431414

-3182

-1(*)

30

Services

412

311

59

264

188197

21-8(*)10190

4673

763

(*)43

17(*)4611

-1

-11-9(*)-2

101

-6

53

—142

•(*)(*)-2(*)

-8-14

15

-216(D)

(')(*)(D)(*)

1315(D)(D)(*)-2(*)(*)-3

1019

96(D)(D)

-7-5

-20

-52

(*)

13

94

Otherindus-tries

418

241

66

147

149139

511

-1-4

01376

4̂(*)11

— 2(*)

1(*)

35

-7-14

25

221

-18

1435

-7(D)(*)12(D)(D)

-2910(D)(D)

26(*)-1(D)-1-2

2(D)

117

(D)(D)-2

4

(D)(D)

171(D)

164(D)9

5714(*)114

(D)1

(D)15

-5

-44

210

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 59: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 57

Table 21.—U.S. Direct Investment Abroad: Reinvested Earnings, 1986[Millions of dollars]

All countries

Developed countries

Canada

Europe

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourgNetherlands .PortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorway >SwedenSwitzerlandTurkeyOther

Japan .

Australia, New Zealand, and South Africa-AustraliaNew ZealandSouth Africa

Developing countries

Latin America

ArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermudaJamaica.......^ ,Netherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and Pacific

India . .IndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

I nternational

Addendum— OPEC 1

Allindus-tries

19,709

18,680

2,076

14,192

11,644863110

1,3613,476-156

7712,166

1372,744

58195

-81

2,5487

4135

1052,369

115

2,254

15870

-67154

1,677

1,933

320204

4935471113813

508-1549133

1,104-3471,607

21-359-71235

19

-708-264-186

2553

-444-26

72491

-2692

2101

327

47820472

24613

121233

10459623

649

39

Petro-leum

470

1,546

-391

1,316

1,16440

-3293

592(D)

-22274(D)

1,2543

-33-990

152(D)(D)

45(D)(D)

1(D)

617

471(D)(D)

-476

239

21047137

425

21113

2

70-11

6418

-42-27

301

(*)(D)1

(D)

655-269-186

2756

-386(D)86(D)

701

147<*)

-78

-130159

-214(D)

-1215(*)

685(D)

600

55

Manufacturing

Total

11,158

10,253

1,465

7,754

7,404433

461,0402,275

17575

1,52686

9041936

446

35035(D)1477

2482

(D)

1,133

-99-161

458

905

396

361125214

81682

-3422

79391822

-44-7

0-8

6-26

1-10

323

-104

-350

-2115

-529

-4235

5454349

4-26

38385

93515-8

-82

Foodand

kindredproducts

1,458

1,390

105

1,136

1,0573225

112111

108111

0239

769

243

79(*)

0(*)(D)(D)10

52

98(D)1

(D)

68

35

252832363

—2-36

5

5434

416

70014

(*)01

31001100190900

213

(*)(*)(*)231

1051

(*)

24

Chemi-cals and

alliedproducts

2,483

2,271

50

1,892

1,854220

(D)302281

9203263

(D)247

880

247

383

-152

28(*)1

269

59442

14

212

82

1289

1472

-1012

252

-4-5(D)(D)

-42-7

0-9

1(D)

0(D)

-23-2-2

00

-210

-183

14

(D)

(D)

15239225

(*)8

(D)5

382

(D)

-45

Primaryand

fabri-cated

metals

446

456

179

236

243185

13148(*)1434-618512

7(*)

0-1_Y

100

33

891

16

-10

31

145

1033

(*)(*)19-1

164

(D)(D)

1000

(*)0016110

(*)6016

-45-144

00

-3-7

4(*)-1

1-2

11

(*)0

-26

Ma-chinery,exceptelec-trical

3,069

3,069

170

2,539

2,461(D)

2292731

092

782-7238

(D)(D)

226

798

(*)0

(D)(D)

00

(D)(D)(D)(*)8

(*>

-20

30-33

700

(*)0081

-51-51

00

(*)0000

(*)00

nn(*)000000

31

(*)3

<*)

189

10(*)-1

032-1

-3320

-6

Electricandelec-

tronicequip-ment

810

697

173

381

34963(D)17

1396

3997(D)3

(D)(D)41

32(D)1

(D)4920

126

171711

113

-138

-984

-1072

(*)2

(*)83

(D)-29

0(D)

(D)000001

(D)

4110

(*)30

(*)3

2224200

225-1(D)5

-20-3185

6337

(D)

9

Trans-portation

equip-ment

490

124

562

-257

-231(D)0

70475

0(*)330

-4(*)(D)

-510

26(D)0030

C)(D)

(D)

(D)(D)-4(D)

366

246

122(D)371

-710

20(D)

124124

00

00000000

(D)(*)<*)

00

(D)00

(D)00000

(D)01003

(D)-1201

-19

Othermanu-

facturing

2,402

2,247

226

1,827

1,671175

6234390

3119206105163

371

198

15614(D)(D)5

130(*)(*)

175

1933

13

155

160

190(D)

1103

2442

28(D)

(D)381

(D)

(D)0010

(D)04

(D)2103

(D)0

-1(D)

51

(D)-1(D)

(D)2

(D)-6-4

7(*)

9-12

2(*)

28

Whole-sale

trade

2,702

2,422

125

1,966

1,25720192

198164

65

150(*)

283149955

709-16

34373

646(D)(D)

339

-8-67

753

280

109

2328

^(*)31

-35(*)

69-36111-5

62(D)41-7-3(D)-5

9

1844

(*)(*)

-22(D)

-5(D)

47(D)123

(D)

142186(*)-6(*)1

-13-40

16-7

4

-33

Banking

33

780

35

689

356791038

236(D)

2122(D)511498

-132

33392

-14

325-8

2

13

4440(*)3

-747

-291

-3254

2975644

1012

113(D)92(D)

-79-282

(D)(*)(D)(*)

188-5

-9-14-13

0(*)

4(*)

83

-2331

(D)(D)

235

213987

272353

1215352

-30

Finance(except

banking),insur-ance,

and realestate

4,370

2,848

540

2,111

1,1729569

116(*)

2196929

21415

410

938-4

0(D)(D)

8850

33

99

988685

1,522

1,440

11314411571

(*)38-5

18913

2001

1,13953

1,514(D)

388(*)49(D)

5-1

10

(*)660

(*)

284

(D)(D)

7960734

-16832

(*)

32

Services

364

269

111

127

64146

-16-29

(*)2

250

177

-1149

632

(*)(D)

4(D)31

16

161204

95

26

221713

(*)(*)-1

3(*)

-9-19

82

121

12(D)-1(*)1

(D)

889

(*)(*)(*)(*)1

-1

532144-2

-10

8-3(*)-2

0-2

29

- (*)13

35

Otherindus-tries

611

561

192

230

226(*)

2-1123-1

110

21(*)

81

4(D)(*)

9(*)

— 10(D)(*)

37

10390(D)(D)

99

14

-3931

-1-12-1

-3351

-3(D)-2(D)

56(D)(D)(D)(D)-3(*)

4

74331

— 1133

-17

44(D)(D)

(D)

48(*)(*)-3(D)442

-2-1

4(D)

-49

63

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 60: SCB_081988

58 SURVEY OF CURRENT BUSINESS August 1988

Table 22.—U.S. Direct Investment Abroad: Reinvested Earnings, 1987[Millions of dollars]

All countries

Developed countries

Canada

Europe

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItaly...LuxembourgNetherlandsPortugalSpainUnited Kingdom

Other -EuropeAustriaFinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa-Australia ,New Zealand ,South Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuador .PeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan .

EgyptLibyaOther

Sub-SaharanLiberia ....NigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC l

Allindus-tries

35,669

30,240

4,848

21,718

19,4561,330

1221,5494,530

4978

1,29657

1,84358

9206,770

2,2624290

25473

1,8371

32

2,467

1,207867107232

5,667

3,507

8089

60852

116-20-62130

-24

1,038503434101

1,660-5481,560

48477

247822

86-209-190

217

2955

22070

13064

21828

-180

1,944702

49671077

487109336131

-25

237

630

Petro-leum

2,933

2,473

856

1,311

1,021(D)-415

21663

80(*)

189(D)

-901,116

290(D)(D)

162(D)8661

121

184162(D)(D)

626

249

313377

90-29

(D)-29

(D)

136(*)

143-6

116-22

(D)55

(D)(*)

6

35-188-157

g24

2233

20218

2391

2071813

103242

44(D)(D)

6(*)1

(D)-34

166

420

Manufacturing

Total

20,385

17,908

2,484

13,508

13,08766162

1,2123,593

13808

1,14917

70469

8423,957

4213

(D)1946

3677

(D)

1,433

4823553294

2,478

1,361

8104

548345553

1627

5624703259

107

(*)73

-414

687204

6102

59

297

1714

1,020108478

1765

46232

24046-4

195

Foodand

kindredproducts

1,968

1,701

326

1,140

1,089563380

166(*)84

1150

905

54406

5110

(*)(D)(D)

0

175

5952(*)7

267

186

12923267

314

-1326

5237

42

60021102

32(D)

20

(D)(D)

00

(D)

00000

494

(*)11

3683

-4(*)(*)

37

Chemi-cals and

alliedproducts

3,632

3,108

296

2,300

2,253238-1160247

9288181(D)

328(D)93

734

471

-163

3720

370

141118

617

524

274

16441

16278

-15

212

131106(D)(D)

217

(*)101

-501

8(*)(*)

008035

224

(D)(*)(D)

220532572

28(D)7

516

(D)

42

Primaryand

fabri-cated

metals

875

728

300

335

33627

19104

03019

—427(*)23

109

1(*)

0(*)-7

4(*)1

40

53212

30

147

95

63(*)59(D)(D)(*)1

(D)1

3324(D)(D)

1000

(*)001

26(D)10

(D)(D)0

-1(D)-7-2-4

00

33(D)8

(*)-1

1-1(D)(D)(*)

0

1

Ma-chinery,exceptelec-trical

4,477

4,169

392

2,984

2,945492

453925

0164558

811

121682

40-2-1

1(D)(D)

0(*)

(D)

(D)(D)(*)10

309

133

175(D)

1710

(*)001

(D)

4141

00

(*)0000

(*)00

(*)(*)(*)

000000

1(*)-11

(*)175-314(*)10

701

(D)(D)

0

1

Electricandelec-

tronicequip-ment

1,178

963

174

696

(D)57(D)

2179

24939(D)41(D)11

220

(D)(*)

00

-1(D)

20

82

1182

(*)

215

157

164(*)

-18121

(*)(*)173

4302

30000012

1(*)(*)

00100134

-100

36713-8

076

2271678272

16

Trans-portation

equip-ment

3,724

3,212

433

2,870

(D)(D)0

1001,475

0-32601

(D)(D)

812

(D)00030

(*)(D)

(D)

(D)(D)

73

512

400

1515

77(D)(D)10

(D)(*)

249249

00

00000000

511004004

00000

1070

(*)002

(D)(D)

70

(D)

43

Othermanu-

facturing

4,531

4,027

563

3,182

2,908(D)(D)

399497

2196212

47219

9(D)

994

2744

(D)113

2443

(D)

155

126841626

504

429

293(D)

234(*)

61

-244(D)

134127

16

30010

(*)02

-41203

-50

(*)5

10(*)(D)(*)(D)

69(D)8

-17

-82

1713(D)-2

55

Whole-sale

trade

4,107

3,583

155

2,827

2,209275

56295245

25

1951

7722893

242

6185

704320

473(D)(D)

454

1473211

103

524

165

-74-5

-3919(*)

25

-191

13513

1156

1042441(D)-2

11

(D)

-20651

(*)-25

(D)1

(D)

39(D)

2(D)9

340331

(*)(D)(D)

3(*)

-1020

6-5

-12

Banking

26

927

82

599

253(D)5

65268-16

(D)-15

197

1662

-90

34652

(*)-3357-13

2

138

109100

81

901

-872

-433

-316

(*)(*)-7

59

1991

2021

-630603

(D)(*)-2(*)

-31(D)

41-51-50

0-110

_114-4

17717

-13171

188622

-6-9

-20147166(D)(D)

-9

Finance(except

banking),insur-ance,

and realestate

6,407

3,650

704

2,543

2,087183

272871

2614920

30624

1,100

456-22

0(D)21

4420

(D)

231

172140

1912

2,758

2,471

95167921(D)(*)(*)3

(D)

319-7324

2

2,05853

1,437-2472

(*)101

3

12-1-1

0(*)131201

34(D)1

(D)(*)

241204

1(D)-3(D)-3

652

(*)

49

Services

874

820

107

674

5572786

31-1(D)490

211(D)6

298

1178

(*)6

-4104

31

19

201505

54

36

3910106

(*)(*)

14(*)1 2753

-48

-16(*)116

-4

'1098

(*)(*)111

(*)

-30(D)

-32(*)(D)

3816(*)

045

(D)(*)1

(D)

-22

Otherindus-tries

938

880

459

255

24262

1490-1-1

-500

33(*)1

148

14(D)

0(D)(D)9

(D)(*)

72

9463(D)(D)

129

96

-1672

-2(D)1

(D)4

(D)

85321636

28(*)-3(D)(*)(D)(*)3

229432

13(D)(*)(D)

-4(D)172

(D)

1442(*)-3

2375

(D)42

(D)

-71

9

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 61: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 59

Table 23.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1985[Millions of dollars; inflows ( —)]

All countries

Developed countries

Canada

Europe

BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourg ,NetherlandsUnited Kingdom

Other EuropeAustriaFinlandNorwayPortugalSpainSwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa-AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermudaJamaicaNetherlands Antilles ,Trinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other Africa

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab Emirates. . ..Other

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippines

South KoreaTaiwanThailandOther

Addendum OPEC l

Allindus-tries

1,269

-1,628

80

1343

741161(D)

321-905

(D)21

162177938

602311

-8-30

(D)(D)

-519-813

-36

-169-194

3511

2,660

3,847

263-22

-13123(D)

-28-85

-163(D)

-206-23-44

-138

4,315(D)

191(D)

4,150-33

2411

-241250

(D)(D)(D)

-491(D)(D)58

-1055962

-100-2

-841-45-1

-231-54-87

-240-88-19

-14267

238

-1,069

Petro-leum

-1,432

-313

158

416

409117(D)

138-581

(D)(D)(D)(D)72

189

79

(*)32(D)(D)

-14-2(D)(D)

11

-66(D)(D)

4

1 266

235

238-2(*)(D)

-28-38

(D)63

28-24

62-10

-265-33

-160(D)

-44(D)

29

-237245

(D)(D)(D)

-482-9(D)(D)

-2815

146-140

(*)

-514(D)(D)

-208(D)(D)30(D)(D)(D)16

147

-1,087

Manufacturing

Total

-1,298

-688

12

690

637-8

-1293

-2661

8224(D)(D)(D)

-53-30

(D)(D)

-1611-3(D)(*)(D)

-52

42(D)(D)

-610

-277

-226-61-82-120

__1-23-85

7

(D)22-8(D)

(D)(*)

0(D)(*)

7°)3

-3220

(*)-5

0117

-3(D)3

(D)-1

-326-18

29

4019

-257-12

14-57

(*)

-87

Foodand

kindredproducts

92

(D)

(D)

(D)

(D)(D)(*)

-2431(*)-2(D)

02330

-31(D)00

(*)(D)(D)(*)

00

38

10283(*)19

(D)

(D)

(D)(D)

-12(*)-3(*)(*)

54

-139

(D)

(°)

(°)

(°)

0

8(D)0

-2

-20000

-20

(D)(D)

(*)0

(*)00

17(D)

001

1412

(*)(D)(*)

(D)

Chemi-cals and

alliedproducts

-426

-150

(D)

9

7882(D)(D)

-281

93(D)1

165(D)

69(*)(D)(D)-754-226(D)(D)

(D)

(D)-47

(D)(D)

-276

-213

(D)(D)

-101(*)21-1-1

-190

-46-46

(D)(D)

(D)(D)

0(D)(D)-4

0(*)

2(D)(D)

0(*)(D)0

(*)(D)(*)(D)(D)(D)(D)

-65(D)-1-3(*)

-15(D)-1-5-3(*)

-24

Primaryand

fabri-cated

metals

-127

-108

(D)

(D)

(D)7

(D)(D)

-530

-2(D)(D)

-10-9

(D)0

(*)(*)

41

(D)(D)00

-3

-5-4(*)

19

-23

(D)(D)1

(D)-2(D)-1

-24(*)

1(D)(*)(D)

(D)000000

(D)300003003

-1(D)(*)

0(D)10

(*)(*)(D)-1(*)(D)

000

(D)

Ma-chinery,exceptelec-trical

-74

-21

8

43

-40380

(D)-67

0-16-28-1(D)21

2(D)0

(*)3

(D)7100

(D)

(D)(D)

1

52

-22

-2019

-380000

-10

-2-2

00

(*)0000

(*)00

000000000

(D)-11-2(D)(D)52

(D)(D)(*)

20

(D)(D)

0

-3

Electricandelec-

tronicequip-ment

-232

-115

(D)

(D)

44(D)331

(D)-210-110

-34

(D)(D)(D)41(*)(D)(*)(D)(*)0

7

-18-10-2-6

117

(D)

(D)(D)39(D)(D)(*)(*)

-110

-23-21

0-2

000000

(D)(D)

-4(*)(*)

00

-40

(D)(D)

22

-100

(D)1

(*)1036

-15-103

9-9

-19(D)

(D)

Trans-portation

equip-ment

-585

-478

(D)

(D)

-52329(')

-10139

00

(D)0

(D)-345

(D)001

-1(D)(D)

00

(D)(D)(D)

-31(D)-2

-107

(D)

(D)-12-3(D)(*)0

(D)-30

(D)

(D)(D)(*)

0

00000000

1(D)(D)

0(D)(D)00

(D)-1

000-1

(D)0100

-1(D)(*)(*)

0(D)

30

Othermanu-

facturing

53

(D)

(D)

64

(D)3

(D)22-9(D)113

21101108

(D)2

(D)(D)1

(D)106

(D)(D)(D)

(D)

(°)

(°)

(°)

(°)

12

282

32(*)(D)(D)(D)5

(D)

(D)(D)26

(D)00

(*)0

(D)0

(D)-4(D)(D)

0(D)(D)

0(D)3

(D)

7°)(D)(D)3

(*)(*)(D)

2-1(*)(D)(D)(*)(D)

(D)

Whole-sale

trade

-298

-436

-29

221

215157

65-4(D)(D)

1200

173

-43652

(D)(D)(D)3

(D)5

(D)

(D)

(D)(D)162

138

(D)

-5(*)-8

3191

(*)17(*)

(D)(D)292

84(D)

4(D)

-13(D)(D)(D)

(D)4400

(D)0

-5(D)

1852(D)(D)(*)

(D)7602

(D)(D)

914222

-24

Banking

-18

-24

15

-29

3(D)

03

(*)(D)

0(D)(D)(D)-6

-320

(D)0

(D)(*)

0(D)

00

0

-10(D)(D)0

6

1

00

(D)00

(D)000

(D)00

(D)(D)(D)

00

(D)(D)(*)0

200002002

000

(D)(D)

3(D)

0-1

0(*)1(D)(*)

00

-1

Finance(except

banking),insur-ance,

and realestate

4,350

-281

-156

-70

11(D)(D)

-32(D)(*)

9(D)(D)(D)53

81(*)

0(D)

02

(D)-78

0-4

(D)

(D)84(D)6

4,631

4,570

-2315(D)(*)(D)

0-1-1

58-766-1

4,536(D)(D)(D)

4,2080

(D)(*)

3330

(*)(*)(D)

0(D)

(D)1

23(D)1

(D)67(D)(D)-1

3-3

-240

(D)(D)

27

Services

102

-47

21

-68

-82-25

(')3

-140

(*)10

433

152011119

(D)(D)

53

-12-12

1(*)

149

(D)

112

(*)111

(°)9

(D)

(D)(D)11

543

(D)(*)

00

(D)9

-44

(D)(D)

0(*)(D)(D)(*)

(D)-45044(D)

(D)270

(D)0

(D)(*)1

2(*)(D)

(D)

Otherindus-tries

-137

160

59

152

1592

(D)51(D)(*)(D)50

35(D)

-7(*)(D)(D)

0-2

1(D)(D)

0

11

555110-6

-388

-306

1-13

(D)20-8(D)(D)(D)11

-267-14

-136-118

-39(D)-3(D)(D)11

(D)

(D)(*)(D)(D)

0(D)3

(*)(D)

48(D)(D)(D)(D)

(D)(D)0

(D)(*)

22

(*)(D)(*)(D)

91

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 62: SCB_081988

60 SURVEY OF CURRENT BUSINESS August 1988

Table 24.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1986[Millions of dollars; inflows (-)]

All countries

Developed countries

Canada

Europe

BelgiumDenmarkFrance ....GermanyGreeceIrelandItaly

Netherlands ,PortugalSpain ,United Kingdom

Other Europe

FinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...

New Zealand .South Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

SaharanEffvott^y viLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesia

PhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC l

Allindus-tries

7,828

1,805

841

1,465

1,002-558-94128484

(D)58

37888(D)(D)

2601,404

463(D)(D)

504389211

-72

-123

-378(D)(D)

-13

6,161

5,135

26318

2164387(D)

-87138(D)

-358-158-126-74

5,23041

412-32

4,875(D)65(D)

749505251

-53700-14

(D

(D

228-204-157

4786

504133jj

~310-143;

388(D

(D

137

1,06

3etro-leum

1,953

438

443

441

-25-66

(D)-206

123(D)(D)(D)1

(D)-6(D)

729

466-1(D)

516-20

12

(D)

(D)

(D)(D)

-3414

1,656

374

(D)(D)83

(D)108798635

-1191

-82-38

(D)30

582(D:

-166( ,

4

(D)303351

-53(D)(D)(D

(D

(D:

(D

50108

390(*

314(D

33(D

(D

(D

14

1,15

Manufacturing

Total

1,897

1,664

341

1,259

1,228-309

-5251213

3(D)1082

199(D)

-161,030

32(D)(*)(D)(D)25(*)24

60

4243

-23

232

156

30745

182(D)

55

(*)(D)

2

-151-149

-2(*)

(4(D)-2(*)(D)-1

-366

01

-420

-18-24

(D)14(D)(*)16

(D)(D)

7214

-2"

<"'57(*

77

Foodand

dndredproducts

26

9

(D)

122

126-27

(D)16

-1950

(D)50

(D)(*)1

127

4(D)

00

(*)8

(D)0

20

(D)(D)(*)

7

17

11

(D)-2(D)(*)10

(*)80

(D)(D)(*)

7

(D)(D)(D)(*)(?

0(D)

3000030

(D:

c(D)

00

(D)(D:

(c(*(D

(D

(D

-8

dhemi-als andallied

products

2

-5

(D)

-22

7(D)(*)56(D)3

-61410(D)-3(D)

-94

16(*)(*)(D)

-16(D)(D)

8

(D)20(*)(D)

4

1

1137-6(*)(D)(*)(*)(D)0

(D)(D)(D)(D)

(D)(D)

0(D)(D)

(°)

0(D)

4r.K

C(*)

c(*)-i(*)(*(D)(D

(*

(D

(D

(D

(D

'rimaryand

fabri-cated

metals

-8

10

(D)

(D)

(D)(D)(*)

411(*)

23

1328(D)(D)(D)

-30

(*)(*)

3(*)

00

-1

54

(*)1

18

3

8(D)10(D)(*)(D)(*)-1

0

(D)— 3(*)(D)

(D)000

(D)00

(D)-18

(D)(D:

cc0

(D)-1(D:

0(D)

— i000

(*' c(D

(D00

-2

Ma-hinery,exceptelec-trical

648

528

-92

462

445(D)(D)(D)9803

(D)(*)(*)

6-10132

16(D)(*)

010(D)

00

91

67(D)(*)(D)

120

(D)

341122000010

(D)(D)

00

(*)c00

(*:c000000000

(°(D

(D

(D

(D

(D

(D

4<(D

(D

Electricandelec-

tronicequip-ment

138

-23

5

-19

-47(D)10-7(D)(D)1141(*)(D)5

1214

2822(D)7

-2(D)

00

(D)

(D)(D)(*)-4

160

(D)(D)

(°)

43(*)(D)(*)(*)10(D)

29(D)

0(D)

(D)00000

(D)

12(D)(D

((D

0(D

(D

138600

(D

38(D

(D

-61

3!

(D

36(*

Trans-ortationequip-ment

1,306

1,292

(D)

(D)

(D)154(*)-4(D)

0(*)-4

01

(D)(D)(D)

(*)(*)(D)

0(D)00

(*)(D)83

(D)(D)

13

99

(D)(D)(D)(D)(D)

00

604

(D)(D)

00

00000000

1(D)(D)

0(D)(D:

c(D)(D.

000

(D

(D

0(*

00

(D

-108(D

0(D

60

Othermanu-

'acturing

-211

-147

80

206

-208(D)(D)(D)(D)(D)(D)

(D)

104-15

1(D)

-209

21

(*)

-427(D)(D)

(D)

(D)-10

(D)(*)

-64

(D)

-36(D)

-42

(Di(?(D;(D)(D)(D)(D,

c00

(*:(D

(D:12(D

(D

0(D

(D

o(D

— 6

(D

(D

(D

(D

-10(D

(D

(D

(D

(*(D

(°(*:

(D

Whole-sale

trade

237

68

54

-41

72(D)

— 10(D)8381

500

(D)14

-109

-114(D)(*)(D)(D)(D)-5(D)

-33

6169(D)(D)

169

(D)

(D)(D)(D)

44

-4-118(*)

(D)(D)

(D)

(D)-31

1-35

(D.

(D)18(*)(D)(D

0(D

-104-112

19(D

(D

(D

(D

(°10

(D

-16

Janking

-26

-19

13

6

-5(D)03100

(*)6

(D)(D)(D)-1

-20

(D)(D)(D)

20

(D)

0

00

(D)(D)-7

1

0(D)

0(D)(D)

00

(D)(D)0000

-1(D)

0000

(D)

2000(

~0(

0(D

00

(D

7°(Do

(D

(D

(D

(D((

o

Finance(exceptanking),insur-ance,

and realestate

4,672

293

65

-448

(D)(D)(*)2166(D)-8(D)(*)(D)

04

— 172

(D)(D)0

(*)(D)(D)

025

44

4644(*)1

4,965

4,862

-30-16

(D)(D)-3-1

060

-824

(D)(D)

4,9747

44

4,9200

(D)(D)

27(D

0(D

(D

240

(D

(D

67(D

(D

12(

(*

(c

-3

ervices

47

231

-10

257

2422

(D)(D)0

(*)(D)

0(D)(D)

268

15130

(')•(D)27(D)(D)

(D)

(D)(D)

0(D)

-184

-101

51

-5

(Di(°](D)

4c

1(*)

-102-6

-94(D

(D

(*)

7°CD

(D(v

(°-10

(D

(D

?

?

C

Otherndus-tries

-477

-148

69

4

(D)11(D)16(D)6

(D)(D)

0-8(D)(D)-4

(D)(*)-1(D)(*)(D)(D)(D)

8

-229-225

(D)

(°)

-333

(D)

-80(D)(D)43

-39(D)(D)(D)(D)

(D)-616(D)

-19-1(D)

-5(D)1

25

(D)1

(*)(D)(D)(D)(D)(D)-5

(D)-30-73

(D)-15

-5238(D)(*)(*)(D)

(D)1

(*)68

5

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 63: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 61

Table 25.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1987[Millions of dollars; inflows (—)]

.Developed countries

Canada i

Europe

European Communities (12)BelgiumDenmarkFrance ............GermanyGreece .Ireland

LuxembourgNetherlandsPortugalSpainUnited Kingdom

Other Europe . . . .AustriaFinlandNorwaySwedenSwitzerlandTurkeyOther

Japan.

Australia, New Zealand, and South Africa...Australia . . . . . . . .New ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuela .Other . .

Central AmericaMexicoPanamaOther

Other Western HemisphereBahamasBermuda ,JamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

Eevpt . .. ... .LibyaOther

Sub-SaharanLiberia

Other

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther . . . .

Hong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

Addendum — OPEC 1

Allindus-tries

6,315

3,097

1,102

1,209

625345

(D)271

-809(D)(D)

185112597

19270-20

584-50

2128110271-4127

452

334(D)(D)

-49

3,122

3,267

316-72-48

9-105

4322

-15314

340361(D)(D)

3,922(D)(D)

-663,039-43111

-36

30477(D)58(D)

2271

(D)(D)

-155138(D)

-63(D)

-293-201

18-199

63

-210378814

158

96

-310

Petrorleum

135

383

90

(D)

-158(D)(D)(D)(D)

>)(D)(D)(D)8

36-266

(D)(D)

410356(D)(D)

48

-172

(D)(D)

(*)7

(D)

220

273(D)-2-2

-1068

(D)-89-14

(D)(D)2032

(D)-31

(D)(D)(D)(D)

(D)13

(D)(D)5258(D)(D)

(D)174

(D)(D)(D)(D)

-152

-342(D)(D)(D)(D)(D)(*)-3(D)14

(D)

-493

Manufacturing

Total

-503

278

322

505

437(D)11

376-549

1-63

47(D)

1478

220240

68(D)(D)18(D)(D)3

49

217

-122-130

18

-782

-475

-1169

— 61(D)

-43-1(*)

-24(D)

384(D)-5(D)

2510

193

..(*)(D)(D)

(D)-2-3

01

(D)03

(D)

(D)(D)

-17-9-1

-25210(D)1

-1-43

-3181289(D)

5

-53

Foodand

kindredproducts

-397

-236

(D)

140

1394

(*)-20

(D)(D)20

-160

70(D)71(D)

-1(D)

000

-1(D)0

35

(D)(D)(*)-3

-161

(D)

345

(D)(D)-1

0(D)16(*)

(D)(D)-431

3(D)

0(*)(D)

00

(*)3

(D)(D)00

(D)00(D)00000

(D)(D)00

-1(D)-11

-60

(D)

16

Chemi-cals and

alliedproducts

419

332

-274

503

5109

(D)347

4(*)12(D)

-11(D)(D)(D)78

711

(D)(*) '(D)(D)

0

131

- -27-31

(*)3

87

66

4018(D)

41

(*)(*)(D)

0

67

(D)(D)

20(D)

019(D)(*)

01

4(D)(D)

0(*)(D)

0-3(D)

(D)1

-17(D)-1

(D)5

-1-2(*)-138(*)(D)(D)(D)

-15

Primaryand

fabri-cated

metals

452

-438

(D)

(D)

-284(D)(D)19(D)(*)8

(D)(*)16(D)1

(D)

(D)(*)(*)(*)(D)(')

0(*)

1

74740

(*)

-14

(D)

(D)(*)17(*)

(D)0

(D)

0

-2(D)(*)(D)

(D)000

(D)00

(D)30

0(D)

0(D)3000

-30

(D)0

-10

(D)-1(D)

(*)0

(*)(*)

0(*)7°)

0

(D)

Ma-chinery,exceptelec-trical

206

221

28

424

41320(D)1084

021(D)

-3(D)(D)

315

11(D)(*)(*)(D)_7

01

-26

-149163(D)(D)

-16

86

105(D)

1210000

-27(D)

-19-19

00

(*)0000

(*)00

000000000

1(D)-1(D)0

-101(D)(D)

6(D)-3

-1070

(D)(D)

0

-22

Slectricandelec-

tronicequip-ment

189

283

(D)

213

(D)20(D)(D)(D)(*)(*)(*)(D)(*)148

112

(D)(*)

00

(*)(D)

00

68

(°)5

(*)(D)

-95

(D)

-79(D)(D)(D)(D)(*)

0(D)(D)

(D)(D)0

(D)200000

(D)(D)

(*)(D)(D)

00

(D)0

(D)(D)(D)(D)-1

00

334

(*)(D)3

(D)-100

8(D)5

(D)

1

Trans-portation

equip-ment

-190

444

562

49

(D)540

(D)-240

03

(D)0

-12

139(D)

(D)(D)(D)

0(D)

00

(*)1

-69(D)(D)(D)

634

494

(D)(D)(D)

-Is-1

0(D)(*)

(D)(D)

00

00000000

(*)(D)(D)

0(D)(D)

00

(D)(D)000

(D)(D)0100

(D;(D)i02

-33

Othermanu-

facturing

279

-329

-207

(D)

-290(*)(D)(D)(D)(D)

-71(D)

-97(D)(*)17

163

(D)(D)-5(D)(D)49(D)48

7

(D)31(D)(D)

51

(D)

(D)3/DI

(D)(D)(D)(D)1017

(D)(D)(D)

(D)000000

(D)

(D)(D)(D)

0(D)30

(D)(D)

(D)(D)3

(D)0

(D)(*)(*)(D)(D)

7°)(°)(D)(*)i

CD)

Whole-sale

trade

837

645

402

51

-254127

(D)

99— 191

(D)2924(D)

-562

(D)172

305237

33(D)(D)_ j

(D)

(D)(D)-6

-63

192

5

(D)-11

(D)_473

105

(*)

(D)(D)6

-1

68349

(D)18(D)38-3

-16

(D)0

(D)54

(D)(D)

2735(D)(D)(D)

17667(D)(*)(D)(D)(D)(D)9

4123

-3

Banking

11

-6

(D)

-13

-13-5(D)

-18(D)

00

0(D)(D)-6(*•)'.

0(D)(D)0

(D)0

(D)(D)7

(D)(D)00

17

4

00

(D)(D)(D)

00

(D)(D)

(D)00

(D)(D)(D)

00004

(D)

0(D)(D)00

(D)00

(D)0

(D)(D)0

(D)14(D)

0(D)

014

-5110

(D)

0

Finance(except

janking),insur-ance,

and realestate

5,335

1,828

1,084

546

(D)(D)(D)(D)57(D)(D)(D)1

(D)0

(D)-41

(D)(D)

00

-3(D)0

28

(D)

(D)(D)(*)-2

3,508

3,707

-33

(D)(D)(D)(D)(D)(D)(D)

i28(D)(D)

3,709(D)(D)(D)(D)

075(D)

300003

120

-10

(D)74(D)-6(D)

(D)(D)(D)(D)1

(D)2310

-1(D)

(D)

Services

882

71

-41

108

6172-331

(D)(D)110

(D)2

(D)

(D)

47180

(*)-1(D)(D)(D)

(D)

(D)(D)0

(D)

811

288

(D)-2(D)-1(D)0

(D)5

(D)

(D)(D)2'

(*)

25510

2501

(*)(D)-5(D)

322

(*)01001

518(D)

501(D)

0

3150

(*)01610

(*)-21

510

Otherindus-tries

-382

-102

(D)

(D)

(D)-21

(D)52290

(D)30

(D)(D)(D)(D)

(D)(*)

0(*)

0(D)(D)(D)

-51(D)(D)(D)

(D)

41

(D)(D)14(D)37(D)11-1(*)

14(D)

4(D)

(D)(*)(D)(D)(D)

-100

52

(D)

(D)0

(D)(D)

-145

(D)

-2527

261(D)(D)

(D)80

(D)0

(D)2

(D)(*)(*)35

(D)

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 64: SCB_081988

62 SURVEY OF CURRENT BUSINESS August 1988

Table 26.—U.S. Direct Investment Abroad: Income, 1985[Millions of dollars]

AH countries

Developed countries

Canada

Europe

European Communities (10)BelgiumDenmarkFranceGermany .GreeceIrelandItalyLuxembourgNetherlandsUnited Kingdom

Other EuropeAustriaFinland ... .Norway ..PortugalSpainSwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries

Latin America

South AmericaArgentinaBrazilChileColombia.Ecuador ..PeruVenezuelaOther

Central AmericaMexico ..Panama ..Other

Other Western HemisphereBahamasBermuda

Netherlands AntillesTrinidad and Tobago ... .United Kingdom Islands, CaribbeanOther

Other Africa.Saharan ... .

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC l

Allindus-tries

33,202

26,098

4,307

19,800

16,317944235

1,4473,401-20785

1,02579

2,1976,224

3,4833685

60149

312190

2,1194942

1,617

3732786135

6,845

2,338

908115524

5216493372225

1,128642490

4

3021,0971,415

303220

156774

50

941554485

96-28388-5339150

40258

269150

-74

3,163515

641,385

33211639717090

140-46

258

2,463

Petro-leum

9,306

5,977

1,306

4,044

3,2863240

-12388

(D)3

(D)(D)

1,0411,889

759(D)3

491-19

1(D)(D)(D)(D)

168

457(D)12(D)

3,065

446

269107

27

140(D)

-49(D)(*)

621

76-13

11578203

(D)(D)11

875515457

87-29360

(D)351

(D)

78(*)-3126

-46

1,66532(D)

1,371(D)-4

-39(*)-599

-59

265

2,021

Manufacturing

Total

14,677

12,610

2,135

9,721

9,16351334

1,0562,438

(*)50189544

8542,828

557263

(D)33

171135(D)3

-34

981

-2271511388

2,067

1,434

802-38779

122716-3

81

627575(D)(D)

550

-185

-81

20

166402

100

20-10

-61(D)

-78(D)4

6777941-5(D)(D)

335688627

36

Foodand

kindredproducts

1,619

1,414

172

1,089

1,005133074

141(")

119700

170388

8450

(*)6

(D)(D)(D)10

86

67154

48

205

226

1394864164

-1106

777117

10(*)013105

510013012

10100

-262

(*)1

(*)-44-2116

(*)(*)

17

Chemi-cals and

alliedproducts

2,320

2,043

236

1,723

1,622208

1144227

1117(D)(D)

310573

100217

-3556

35(*)-3

123

-40-7

4-37

277

240

11113

1118

-102

-4-11

2

147113(D)(D)

1850

191

-903

6110050

13-8

-90(D)(D)

23

120(D)18

-73

26(D)

3438

(D)

Mmaryand

fabri-catedmetals

453

363

101

304

315183

23165

018(D)(D)2661

-11(*)

0-1-2-5-7

400

-31

-10-12-1

3

89

66

10-11

12(*)11

-29

(*)

533915-1

3000

(*)003

(*)2101

-20

-1(*)

10(D)(D)

0(*)14841

(*)1

-211

(*)0

(D)

Ma-chinery,exceptelec-trical

4,738

4,454

250

3,683

3,36215(*)

5971,000

0113575

7209859

320(D)(*)

0(D)(D)(D)700

(D)

(D)-53

(*)(D)

284

186

18636

1510

(*)00

-21

(*)(*)

00

(*)0000

(*)00

(*)(*)(*)

000000

(D)1(*)(D)(*)(D)(D)11n

d500

(D)60

(D)

Electricandelec-

tronicequip-ment

1,042

638

153

514

503(D)-637

158(*)41

108(D)2876

124

(*)(D)16

-32

' $0

33

47

-1-2

404

146

1299

1342

-23

(*)4

-3

15170

-2

20000011

-3110

(*)-4

01

-5

55

(*)00

2561224

237

1381338171

12

Trans-portation

equip-ment

2,005

1,582

880

659

790(D)

067

3600

(*)(D)0

-3317

131(D)00

(D)-107

70

(*)-32

(D)

(D)652

(D)

424

242

43(D)

1641

(D)

0-51-6

199199

00

00000000

11100

-1001

00000

1810

00

(D)(D)(D)

202

-50

Othermanu-

'acturing

2,501

2,116

343

1,748

1,566172

6114388-2936563

114552

18282

(*)4

3312

1212

(*)

84

-59-37

528

385

329

184(D)

144(*)(1

2491

137136

1(*)

80010

(*)08

7-1-1

0(*)

8071

(1(D)

(*)

(D)1654

(D)

1(D)(D)2

(*)

65

Whole-sale

trade

3,161

2,434

142

1,996

98415714221175(D)(D)86(*)

167138

1,012147576214329

724(D)(D)

260

363121

-15

727

276

659

40133134

13173635

802115(D)9

(D)93

11321

(*)8

(D)(D)

89(D)(D)-4

6

352232

(*)8

22(D)19(D)2776

66

Banking

2,886

1,429

12

1,361

957151

892

251-34

(D)(D)3219

398

404441

10710

31023

80

-24(D)

TD)

1,457

1,285

-35413

36418(D)(D)C)

7D)

179-2187-5

1,460845

(D)-1(D)(D)

5612

(*)(*)(*)

0(*)(*)1

1311

-43(*)(D)1

(D)

21540(D)3

143377(D)

-2218

15

Finance(except>anking),insur-ance,

and realestate

1,464

2,569

307

2,099

1,45865(*)59

1871

(D)(D)(D)39

754

640(D)0

(D)(*)

2(D)

5680

55

82

8163117

-1,105

1,211

751252(*)

61

(*)83

1409

1265

-1,426130

1,3622

-3,132(*)(D)(D)

-25430

(*)-29-30

01

4111

-9(D)(D)

904824141

27211

44

Services

720

512

95

400

292237

3041

1129

063

126

1074

<*)53

22(')6912

7

10111

-1

208

54

2494431

(*)11

3-8

65

2817(D)-1

11

(D)1

1618(D)(D)(*)-2

1(*)-3

11711

106(D)(D)

2013(*)-1

0-4

31

26

112

Otherindus-tries

988

568

310

179

17623

1158-1-1-2

01591

45

(*)111

(*)-6

1C)

39

39134

22

427

52

2849

10(D)(*)13(D)(D)

-14-3(D)(D)

391

-1(D)

-22

(D)

488

(D)(D)-240

-12(D)

(°)

182(D)

175(D)9

14470(*)55

(D)1

(D)35

-3

1

241

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 65: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 63

Table 27.—U.S. Direct Investment Abroad: Income, 1986[Millions of dollars]

All countries

Developed countries

Canada

Europe

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourgNetherlandsPortugalSpainUnited Kingdom

Other EuropeAustriaFinlandNorwaySwedenSwitzerland ,TurkeyOther

Japan ,

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa ..

Developing1 countries . . . . .

Latin America

South AmericaArgentinaBrazil. . . . .Chile.. .. . . .Colombia. . . . . . .EcuadorPeruVenezuela . . . .Other

Central AmericaMexicoPanama ..Other

Other Western HemisphereBahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

EgyptLibyaOther

Sub-SaharanLiberiaNigeriaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther

Other Asia and Pacific ...Hong Kong .. . . .India .. .. . .

Malaysia ..PhilippinesSingaporeSouth KoreaTaiwanThailandOther

I nternational

Addendum— OPEC 1

Allindus-tries

38,417

32,144

5,086

22,781

18,9921,383

2772,0624,723

119840

2,613148

3,17982

4393,365

3,78914294

419190

2,8754028

3,345

93253869

326

6,685

3,403

1,662367803

94153793

15217

1,09721482062

644635

2,02653

-2,71944

56144

29010802445

279-25432128

56296

3137974

2,43157888

564155203479109110146

2

412

1,572

Petro-leum

8,065

6,226

841

4,232

3,618201

6128831

(D)-18280(D)

1,5343

32699

614(D)(D)

310(D)(D)16(D)

757

396279

(D)(D)

2,228

627

3819418

775721

1241

108118434

138-26

881

(*)(D)1

(D)

213-77027

-49220

(D)442(D)

5131

18271

258

876609

546(D)

541(*)

6104(D)

390

1,359

Manufacturing

Total

17,911

15,589

2,738

10,956

10,44859755

1,5153,028

18613

1,85496

1,02232

2651,351

50941(D)16

140331

6(D)

1,862

32-75

1494

2,322

1,520

1,238206893

2365105

1124

306207

6732

237066

2516

-146105

-200

20(*)

4831836

7671355911

-1066

403325819-6

24

Foodand

kindredproducts

2,091

1,870

224

1,372

1,2724432

122156(*)

117144

0258

989

302

10040

(*)(D)(D)10

147

128(D)1

(D)

221

161

8633433

2042

227

68455

18

70024

(*)01

510014004

90900

463

(*)2

(*)29-1

572

(*)

-8

Chemi-cals and

alliedproducts

3,896

3,391

519

2,443

2,386313(D)

378376

9211311(D)

2798

100407

574

(*)53

45(*)1

335

93702

21

506

327

23222

2097613

-172

11883(D)(D)

237081

(D)0

(D)

20-1

100

-190

17-2

35

(D)2

(D)

1954429112

22(D)

7423

(D)

-30

Primaryand

fabri-cated

metals

724

632

216

358

364195

24195(*)14366

34-5

840

-6(*)

0-1-6

100

35

23(*)

21

93

71

296

-5251

(*)20(*)

418

(D)(D)

1000

C)001

8210160

-17

(*)1100

1484

(*)-1

1-2

11

(')0

21

Ma-chinery,exceptelec-trical

5,096

4,863

282

3,715

3,583(D)2

6181,035

0102981-7238(D)(D)

382

1328

(*)0

(D)(D)00

(D)(D)(D)111

233

174

21426

1950

('l0

_71

-404000

(*)0000

(*)00

(*)(*)0

000000

31

(*)3

(*)

554011(*)(*)

035-1

-3120

-5

Electricandelec-

tronicequip-ment

1,371

967

186

576

52773(D)27

1966

39109(D)43(D)(D)72

49(D)(*)(D)

42320

178

27261

(*)

404

106

1435

1302

(*)-1(*)10-3

(D)-26

0(D)

(D)000001

(D)5220

(*)30

(*)4

2325200

2704

(D)5

-81

199103810(D)

11

Trans-portation

equip-ment

1,347

921

835

257

286(D)

072

5140

(*)3703

(*)(D)

127

-29(D)

0030

(*)(D)

(D)

(D)(D)(*)(D)

426

304

173(D)843710

-20(D)

132132

00

00000000

(D)(*)(*)

00

(D)00

(D)00000

(D)01003

(D)1401

19

Othermanu-

facturing

3,385

2,945

475

2,235

2,029182

6273557

3131236111172

379

276

20615(D)(D)10

1693

(*)

185

50228

20

440

377

361(D)

2366

4153

48(D)

(D)41

(D)

(D)0010

(D)06

(D)2

-103

(D)0

-1(D)

101(D)(D)(D)36(D)-6-3

92

1023

(*)

53

Whole-sale

trade

4,493^

3,733

204

2,943

1,835270212300232

131

180(*)

36924

105129

1,10860776311

877(D)(D)

451

134262881

760

260

47142716745

-283

10413

121-4

109(D)4522-2(D)

510

10541

(*)4

(D)-3(D)

58(D)162

(D)

432308

(*)2

187

291036177

-10

Banking

2,495

1,521

35

1,338

952201-10

87298

(D)12

155(D)5514

102154

386122

-14

36423

104

4441(*)3

974

1,025

-2047

-21016-5

6-1-8-8

202(D)

181(D)

1,027599(D)

8(*)

391(*)

7-11-11

0(*)191

108

-1961

(D)(D)

-204

138-13

13-13-6865

4218-2

7

1

Finance(except

banking),insur-ance,

and realestate

3,657

3,695

715

2,721

1,664946

29207

122810830

11515

839

1,058-4

0(D)(D)

9810

55

106

152135

88

-38

-164

18323922392

(*)39-5

3625

3552

-70930

1,833(D)

-2,752(*)

161(D)

21

(*)0

(*)2101

208

-4(D)(D)

10367734

-1-319421

56

Services

705

504

138

316

2101961

12(')

334

0658

-1098

1064

(*)(D)

(D)32

24

2619(*)

6

201

86

38184431171

7-3

83

411

35(D)

13

(D)

111111-1(*)(*)11

-1

672350-2

4

3720(*)

0229

(*)26

49

Otherindus-tries

1,093

876

415

273

265(*)

26

138-1-1

20

20(*)3

95

8(D)(*)

9(*)-7(D)(*)

41

147112(D)(D)

239

48

-214

-13

-2-1

-3261

8(D)

4(D)

62(D)(D)(D)(D)-2(*)

7

60543

-15563

46

53(D)(D)1

(D)

781

(*)15(D)512214

(D)

-22

94

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 66: SCB_081988

64 SURVEY OF CURRENT BUSINESS August 1988

Table 28.—U.S. Direct Investment Abroad: Income, 1987[Millions of dollars]

All countries . .

Developed countries

Canada

Europe .

European Communities (12)BelgiumDenmarkFranceGermanyGreeceIrelandItalyLuxembourg. .Netherlands . .Portugal ..SpainUnited Kingdom

Other Europe .Austria.FinlandNorwaySwedenSwitzerlandTurkeyOther

Japan

Australia, New Zealand, and South Africa...AustraliaNew ZealandSouth Africa

Developing countries..

Latin America

South America. ..ArgentinaBrazilChileColombia ..Ecuador ..Peru-VenezuelaOther .

Central AmericaMexico .PanamaOther

Other Western HemisphereBahamasBermudaJamaicaNetherlands Antilles . . . .Trinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan

LibyaOther

Sub-SaharanLiberiaNigeriaOther .

Middle EastIsraelSaudi Arabia . .United Arab EmiratesOther ..

Other Asia and PacificHong KongIndiaIndonesiaMalaysiaPhilippinesSingaporeSouth KoreaTaiwanThailandOther

International

Addendum— OPEC 1

Allindus-tries

52,308

43,342

7,022

30,860

27,0841,697

2472,5905,715

361,1992,010

1473,010

941,3109,030

3,776128157474183

2,82132

-20

3,642

1,8181,285

135398

9,029

3,870

1,903237

1,17912019419

-53221-13

1,511697681134

45676

2,02896

216554

31848

763175186

110

58824

267297

38072

270138

-99

4,0161,064

71975228194734176399173

2

-63

1,896

Petro-leum

8,130

5,541

1,450

3,204

2,675(D)

48461

71

-781

588(D)25

1,587

529(D)(D)

340(D)

1047

(*)

412

474376

(D)(D)

2,644

488

16395488

1144

(D)-17

(D)

177(*)

16511

14922(D)

65

(D)

10

596177201-618

4193

244172

3611

22311225

1,199562

871(D)(D)33(*)1

(D)-27

-55

1,453

Manufacturing

Total

27,041

23,351

3,539

17,217

16,60182775

1,9504,123

16895

1,729106

1,06975

1,0604,677

61615(D)21

144447

9(D)

1,971

62443741

146

3,690

2,208

1,44859

1,013479986

20610

7536077472

73

(*)53319

8614806

7204

68

468

3214

1,350184551422

121568

6027751-2

266

Foodand

kindredproducts

2,784

2,328

433

1,587

1,5096544

125230(*)

125180

0154

780

501

7850

(*)(D)(D)10

227

8067(*)13

456

319

21431838

394

(*)409

99488

43

60031102

36(D)

40

(D)(D)

00

(D)00000

1014

(*)21

658

1281

(*)

46

Chemi-cals and

alliedproducts

5,369

4,581

810

3,175

3,100375

(*)454383

10309259

(D)356

(D)130842

753

(*)66

5820

423

172137

630

789

465

27331

2181027'(*)

5422

199144(D)(D)

-83

(*)91

-402

111100

10046

356

(D)

(D)

2787430125

41(D)

9567

(D)

82

Primaryand

fabri-cated

metals

1,170

979

345

527

527137

30184

03320-447(*)24

172

(*)(*)

0(*)

65

(*)

42

6628

236

190

133

77(*)64(D)(D)11

(D)(*)

5730(D)(D)

_1000

(*)001

28(D)10

(D)(D)

0-1(D)

5-2

300

35(D)81

(*)1

-1(D)(D)(*)

0

4

Ma-chinery,exceptelec-trical

6,542

6,045

410

4,461

4,33549

2771961

0171931

8233-1250975

126211

(D)(D)

0(*)

(D)

(D)(D)1

22

497

276

309(D)

2690

(*)001

(D)

-33-33

00

(*)0000

(*)00

(*)(*)(*)

000000

1(*)-11

(*)2202515(*)10

84-1(D)(D)

0

1

Electricandelec-

tronicequip-ment

1,573

1,182

215

818

(D)60(D)14

1852

5047(D)50(D)15

296

(D)(*)

001

(D)20

134

161321

391

50

61(*)80211

(*)18-3

7402

30000012

433001001

44

-100

43421-8

08

122523186292

18

Trans-portation

equip-ment

3,979

3,334

517

2,890

(D)(D)

0116

1,4900

-3270

(*)(D)(D)

790

(D)00030

(*)(D)

(D)

(D)(D)

94

646

468

214• 7134(D)(D)10

(D)(*)

255255

00

00000000

511004004

00000

1720

(*)002

(D)(D)90

(D)

44

Othermanu-

facturing

5,624

4,902

809

3,759

3,434(D)(D)

440690

421026513222811(D)

1,101

3249

(D)137

2824

(D)

164

1701082041

722

597

421(D)

3244

1921

57(D)

169158

110

70010

(*)05

3220410

(*)1

13(*)(D)(*)(D)

109(D)

9-1

8(*>

41821(D)-2

71

Whole-sale

trade

6,633

5,701

376

4,370

3,060340161456395

410

223(*)

83049

143449

1,31042

1208230

1,019(D)(D)

728

2278526

116

933

368

179

-211264954

17827

1457

1732544(D)

25

(D)

13751

(*)6

(D)3

(D)

53(D)5

(D)19

498381

(*)(D)(D)1037

43117-3

18

Banking

2,152

1,770

83

1,389

956(D)-211

37910(D)5

19111964

228

43310-2(*>'-3421

43

190

109100

81

382

1

2932-92111

-6-1-8

-981

-1012

7153(D)

-1(*)

112(D)

-18-43-42

01

24(*)159

-11717

_4120

5151951442

25898679(D)(D)

19

Finance(except

banking),insur-ance,

and realestate

5,640

4,704

837

3,408

2,666181

291

1712

2769821

23027

1,584

743-5

0(D)24

7080

(D)

242

2171802018

936

614

20323

13125(D)(*)(*)15(D)

39924

3722

12116

1,880-2

-2,174(*)

1911

111

(*)0

(*)10902

45(D)1

(D)(*)

266209

(*)(D)(*)(D)-216631

71

Services

1,231

1,088

141

894

766368

1443-1(D)560

238(D)7

340

1288

(*)84

11331

25

2821(*)

6

143

91

531114621

-1181

12363

268712181

1199

(*)(*)111

(*)

-16(D)

-25(*)(D)

5832(*)(*)'

045

(D)12

(D)

7

Otherindus-tries

1,480

1,187

596

377

36162

20143-1-1

-230

45(*)

4165

17(D)

0(D)(D)

9(D)(*)

75

13986(D)(D)

301

100

-9831

(D)1

(D)5

(D)

91361936

17(*)-3(D)

(D)(*)

6

6510

442

54(D)(*)(D)

6(D)262

(D)

1309

(*)533

425

(D)62

(D)

8

76

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 67: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 65

Table 29.—U.S. Direct Investment Abroad: Country Detail for Selected Items[Millions of dollars]

Line

1

2

3

4

56789

101112131415

161718192021222324252627282930313233

34

35363738

39

40

414243444546474849505152535455

56575859606162636465

66676869707172737475767778798081828384

All countries

Developed countries

Canada

Europe .

European Communities (10)Belgium.Denmark.FranceGermanyGreeceIreland.Italy.Luxembourg .NetherlandsUnited Kingdom

Other Europe.AustriaFinland.Norway.PortugalSpainSwedenSwitzerlandTurkey.Other

CyprusGreenland .Hungary.Iceland.Liechtenstein.MaltaRomania.Yugoslavia

Japan

Australia, New Zealand, and South Africa.Australia.New Zealand.South Africa

Developing countries

Latin America.

South AmericaArgentinaBrazil.Chile .ColombiaEcuador .Peru.VenezuelaOther

BoliviaFrench Guiana.GuyanaParaguay.SurinamUruguay

Central AmericaMexico .PanamaOther

Belize .Costa Rica.El Salvador.GuatemalaHondurasNicaragua

Other Western HemisphereBahamasBermudaJamaica.Netherlands Antilles.Trinidad and Tobago.United Kingdom Islands, Caribbean.Other

Antigua and BarbudaBarbadosCubaDominica.Dominican RepublicFrench Islands, CaribbeanGrenadaHaiti.St. Lucia.St. VincentSt. Christopher and Nevis

Direct investment position

1983

207,203

155,736

44,339

92,178

70,2104,4381,1366,614

15,319327

2,4604,4611,2066,613

27,637

21,968545197

3,094219

2,287894

14,09912151221006

320

8

7,661

11,5589,005

5661,987

45,746

24,133

18,7482,7029,068

1082,123

4422,0421,711

552160

635(D)

100

9,9044,3814,837

686-4616610021421635

-4,5193,762

11,056310

-22,956862

1,960488

458(D)

0258

13(*)17(D)

00

1984

211,480

157,123

46,730

91,589

69,5004,5841,1446,406

14,823265

2,8694,594

4245,839

28,553

22,089530191

2,841205

2,139844

14,725228385

17007

327

(D)

7,936

10,8688,918

5101,440

49,153

24,627

18,7142,7539,237

472,111

3711,9021,761

534168

326(D)88

9,8534,5974,474

782-3515894

24028839

-3,9413,331

13,019257

-24,664667

2,992458

447(D)

(*)

23911(*)22(D)10

1985

230,250

172,058

46,909

105,171

81,3805,0381,2817,643

16,764^210

3,6935,906

6907,129

33,024

23,791493258

3,215237

2,281933

15,766234375

16008

350

89,235

10,7438,772

5761,394

52,764

28,261

17,6232,7058,893

882,148

3611,2431,588

597216

229(D)96

9,6585,0883,959

6112

11373

21317139

9803,795

13,116122

-20,499484

3,490472

(D)81(D)(*)

2129

(*)26(D)10

1986

259,562

194,691

49,994

122,165

98,4725,2291,1138,857

20,846172

4,3956,935

72611,61835,692

23,693386292

3,626278

2,6121,002

17,842242302

13-39

(D)

8339

D5

11,332

11,2009,120

5131,567

60,270

34,790

18,6442,9199,187

2242,033

4681,1312,139

543159

221(°)

117

9,5714,7504,293

52D

8

113

16116751

6,5752,762

14,765107

- 15,817368

3,771620

7212

(D)1

19912(*)29(D)(*)

0

1987

308,793

233,315

56,879

148,954

122,2477,0781,114

11,47824,450

2155,4848,449

72314,16444,673

26,707387387

4,142381

4,0371,188

19,973241390

9(D)(D)8

408

1

14,270

13,21210,988

6351,590

71,174

42,337

19,3122,8549,955

2242,037

4971,1022,124

519128

414(D)

125

10,4304,9974,780

6546

14151

15920393

12,5942,566

18,22990

-13,208356

3,970592

(D)

21791

155261

34(D)

21

Capital outflows (inflows (-))

1983

373

2,135

604

525

-722-489

11-609-182-68390239110

-250126

1,247-23

20142

-71-45

-1601,423-25-14

(*)001

-9

1,257

-25217

-52-217

-1,943

-3,692

-1,149-164-150-231

364487

^982-41

13

2-22

(D)

-14

^-345-704

460-102-49

245

-19-31-31

-2,197635

-24-72

-3,125-69536-77

13

(D)0

32(*)

0-2(D)

00

1984

2,821

1,101

2,259

47

-65142

7-404-520-7339413840

-679891

112-15-7

-253-22

-146-42580101

-84-4

0017

-361

-844-237-60

-548

2,382

-171

103104239

-68-11-75

-14378

-21D8

-4-10

(D)-12

-75190

-37310811-9-637723

-199-1311,068-53

-1,908-1951,042-21

(*)-11

(D)(*)

-10-2(*)

5(D)10

1985

18,068

13,669

-705

13,622

11,849485149

1,5041,920-36721985

481,2414,831

1,773-16

7137615

19771

1,04963

_•]_001

37

1,160

-408-271

42^180

4,226

4,083

-1,05710

-25143

-466-11

-218-218

5339

-13

(D)6

69436

-140-227-21-46-15-27

-111-6

5,07161

599-1164,092-172

54364(D)49(D)(•*)11-2(*)

3(D)10

1986

27,811

19,803

2,644

15,376

12,825144

-1571,2633,357

-469941941

4,4102,252

2,550-103

27403

3237061

2,2356

-79-4

-36(D)

(*)-11

1,982

-198-180-64

45

8,804

7,360

88021011375

-52126

-104531-18~2D

(*)-8(D)

21

207-134

394-53

(D)-1(D)

^52-412

6,274-1,027

1,742-16

5,302-117

284106(D)94(D)(*)

-113

(*)3

(D)-1

0

1987

44,455

34,109

6,358

23,724

20,8691,637-1532,0493,333

20983

1,357-19

2,4397,950

2,855-55

9242887

1,186180

2,130-888-4(D)

(°)

(*)

68

-5

2,639

1,3881,157

109122

10,507

7,166

474-86669-7

-1229

-40-54-25-31

(D)

1

-7(D)

9

789241446101

(D)

28(D)

-1

1243

5,903-1993,462-16

2,587-16180

-96(D)

-10(D)1

-1061416

(D)21

Income

1983

20,499

13,803

4,909

7,207

5,35412889

-140617

2449232695

1,1072,615

1,853-539

689-34

-27937

1,331264810002

36— 1

2— 2

1,105

5824643088

5,689

1,034

20134713445

14847

120-669

302751

-1311(*)

508^290

78216(D)161533(D)

4

3251,1241,211

24-3,199

751,029

6019

(D)0

31(*)

08

(D)00

1984

21,217

13,436

4,910

7,399

5,010251123357272-1551434859

6962,405

2,3891838

760-732

1021,394

5219002

2023

—33

729

398748

17-367

7,223

1,495

1,19860

54433

20181

113153

14192

(*)-8

9-8

73934735041(*>121020-6

6

-442617

1,26529

-3,32264

8723317

(D)

. (*)17(*)06

(D)(*)

0

1985

33,202

26,098

4,307

19,800

16,317944235

1,4473,401-20785

1,02579

2,1976,224.

3,4833685

60149

312190

2,119494212001

61(*)'3

— 35

1,617

3732786135

6,845

2,338

90811552452

16493

-3722

-25-4(D)-1-2(D)(*)

1,128642490-4-1-8

3-10

13-2

3021,0971,415

30-3,220

156774

501

18(D).(*)22(*)

08

(D)

'(*')0

1986

38,417

32,144

5,086

22,781

18,9921,383

2772,0624,723-119

8402,613

1483,1793,365

3,78914294

41982

439190

2,87540285

(D)11

62(*)

2

3,345

93253869

326

6,685

3,403

1,66236780394

15379-3152

17(*)3

(*)^8

121

1,09721482062-2(*)13202111

644635

2,02653

-2,71944

561441

173

(*)10306

(*)(*)

0

1987

52,308

43,342

7,022

30,860

27,0841,697

2472,5905,715

361,1992,010

1473,0109,030

3,776128157474

941,310

1832,821

32-20

5-4(D)112

-6

3,642

1,8181,285

135398

9,029

3,870

1,903237

1,179120194

19-53221-13-12

5(*)

-1865

1,511697681134n25105

5043

45676

2,02896

-2,16554

318481

174

(*)69064

(*)0

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 68: SCB_081988

66 SURVEY OF CURRENT BUSINESS August 1988

Table 29.—U.S. Direct Investment Abroad: Country Detail for Selected Items—Continued[Millions of dollars]

Linome

858687888990919293949596979899

100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133

134135136137138139140141142143144145146147148149150

151152153154155156157158159160161162163164165166167168169170171172173174175176

177

178179

Other AfricaSaharan

EgyptLibya..Other.

Algeria.Morocco .Tunisia

Sub-Saharan.LiberiaNigeriaOther.

AngolaBotswanaBurkinaBurundiCameroon.Central African RepublicChad.Congo.DjiboutiEthiopia.GabonGambia .Ghana.Guinea.Ivory CoastKenyaLesothoMadagascarMalawiMali.MauritaniaMauritius .MozambiqueNamibiaNiger.RwandaSenegal.Sierra Leone.SomaliaSudan.Swaziland.TanzaniaTogo.Uganda.Zaire .ZambiaZimbabwe.

Middle East .IsraelSaudi ArabiaUnited Arab Emirates.Other.

BahrainIran.IraqJordanKuwaitLebanonNeutral ZoneOmanQatar .Syria.Yemen (Aden)Yemen (Sana)

Other Asia and Pacific.Hong Kong.IndiaIndonesiaMalaysiaPhilippinesSingapore.South Korea.Taiwan .ThailandOther.

Afghanistan.BangladeshBruneiFijiFrench Islands, Indian OceanFrench Islands, PacificMacau.Pakistan.Papua New GuineaPeople's Republic of ChinaSri Lanka.Tonga.Vanuatu.VietnamWestern Samoa

International

Addenda:OPEC1

European Communities (12) 2

Direct investment position

1983

41231,8531,421

2381943833

1232,270

144216

1,9102

(D)3

(*)(D)1

1611(D)2

1042

154(D)

222144

2-310138

(D)18551

22(D)(D)

245(*)31(D)17

1336864

4,451605

2,156697992783

162

(D)44510

455

(D)18

13,0393,068

3712,7701,1571,3311,821

589613892428

(*)11(D)(D)22

(*)105102100122

(D)(*)(*)

5,721

84400

1984

44562,0371,538

348152403577

2,420133327

1,95952(D)

41

(D)1

19-1(D)

2179

1131(D)

153119

373238

(D)11543

25-2

5343

(*)206

(D)1216558

5,025733

2,352981959790-23

2(D)45370

516

(D)2

(D)

15,0453,253

3294,0931,1011,2631,932

716736

1,081541

(*)121

(D)22

(*)113147209112

(D)(*)(*)

5,204

104810

1985

4 4972,4231,926

3251721033535

2,07412344

1,90751(D)(D)(*)

4722

31-1(D)

2212

1118(D)

134975

3045

(D)317

544

275

-2361

(*)49

(D)1354652

4,606717

2,442792655440-8

2(D)4137

0606

(D)2

(D)

15,4003,295

3834,4751,1401,0321,874

743750

1,074635

(*)10(*)(D)

23

(*)104140311112

(D)(*)(*)

5,428

103830

1986

4 3132,0761,814

196676024

-182,236

71575

1,590187

(D)(D)

0(D)(*)37-2

62

1970

793937

105rj

(°)

5(D)14

(*)5

562

2917-5227-1-7(D)(D)

1323643

4,590600

1,972857

1,161320-16

2(D)5437

0276

(D)2

(D)

16,5773,980

4464,3951,1091,1352,238

800870

1,079525

(*)10

-29(D)

23

(*)109147213

132

(D)(*)(*)

4,602

1090698,472

1987

5 0851,9851,663

252705630

-163,100

651,2671,768

251(D)(D)0

(D)(*)37-2

32

2480

687

5789

g(D)5

(D)(*)

4-2

1573

2936

-10202

(D)-10

(D)(D)

1814142

4,762793

2,38576282095

-242

(D)-7140

235

(D)2

(D)

18,9915,453

4663,9291,1111,2112,5211,0181,3121,282

687(*)12

-30(D)34

CJ161162325

123

(D)(*)(*)

4,304

11 498122,247

Capital outflows (inflows (-))

1983

15332197108271214(')

-31748

-89-275-282

(D)1

-1(D)(*)(D)

-34(D)(*)

-53(D)(D)(D)

-149141

-5-2-1

1(*)(D)(D)(D)(*)

9(D)(D)24(*)1

(D)4

-34

-7

86713

6391773927

7-1(D)5

-4(D)14(*)(D)(D)(*)

867239

8445-81

6895

-12462

11044(*)(*)(D)(D)-4-1(*)

-2823511

(D)(D)

0(*)

180

3160

1984

276183117109

-4322

-47921885

-1138(D)11

(D)(*)3

-19(D)(*)70-1

-22(D)

-69-37

j10-7

1(*)(*)(D)-7-1

13

(D)(D)99(*)

-11(D)(D)

-12-3-6

607119224280-15

6-39

(*)(D)12-3

061

(D)-2(D)

1,670196

-20930

-113-69220127107186106(*)1

(D)(D)(*)(*)

844

100-1(*)(D)

0(*)

— 662

16770

1985

32386369-72463(*)

-39-354-10

-281-62

22(D)(D)-1(D)

212(*)(D)(*)21(*)

-14(D)

-19-22

]_2313

(D)(*)(D)1

(*)127

_75

(*)-16

3(D)14

-19-5

-7611673

-183-82

-12015(*)(D)-4-1

0(*)1

(D)0

(D)

1864452

17642

-244-45

371

-43166

0-2-1(D)(*)(')(*)-6-7172

1(*)(D)

0(*)

173

— 3550

1986

31-211-112

14-113-42-19-52180

-51538

-307144(D)(D)(*)(D)-2

6(*)(D)(*)

-12-1

-31(D)

-103112

(D)1

(D)(D)(*)

_]_-2

2-2

112-3

-133(*)

-11(D)(D)-3

-10-5

516-112

5665

506-120

-8(*)(D)13(*)

0-33

(*)(D)

0(D)

95964565

-79-3611419563

1003

-1100

(*)-29

(D)(*)(*)(*)

58

-981

(*)(D)

0(*)

— 795

1 20112,825

1987

687-130-189

563

-461

8173

62718764(D)(D)

0(D)(*)(*)(*)-3(*)570

-10-26

20-16

]_(D)(*)(D)-1

1-3-5

111

20-5

-25(D)-4(D)(D)55

6-1

186192399-88

-316-225

-8(*)(D)

-6110

-4-1(D)

0(D)

2,4691,451

83-475

1348

321206442196184

01

-2(D)11

(*)7515

112-1

1(D)

0(*)

— 161

47620,869

Income

1983

741754608244

-994

-14-89-13-7216

-22224(D)10

(D)(*)(*)-1

1(*)

-170

-14(D)

-13811

j_(D)(*)-1

1(*)(*)-7-4(*)

4(D)-1

-115(*)

-1432

1876

65410623321996

122-11-1

3930

-186

-15-1-2

3,26051451

1,630381

3510

52139

1-21

01

161

(*)-1(*)

7-5

-472

(*)50

(*)

1,008

1,9100

1984

1,016636579109

-5210-3

-58380-173039594(D)10

(D)(*)(*)(D)1

(*)20

-7(D)

-346]_

(D)(*)1

(*)(*)-6-7(*)157

-1228(*)

-20(*)

429-3(*)

906120535202

50102

-22(*)-31340

-445

-41

-1

3,80545138

1,985393

8451117119151

-69028

-1(*)(*)

141

-981

(*)50

(*)

558

3,3730

1985

94155448596

-28(D)(D)

-10388-533915080

-2820

30(*)-9(*)

1(*)130

-2(D)-5(*)]_(D)21

-1(*)-2

1(*)169

-12-21

(*)-20

34

38-16

8

40258

269150

-74-45

15(*)-1

6(D)

0-39

4(D)

0-1

3,16351564

1,38533211639717090

140-46

0132

(*)1

(*)35-5

-913

(*)50

(*)

258

24630

1986

2901080

-24-45

(*)5

-50279-25432

-12847(D)10

(D)-3(D)(*)-2(*)

-2805

(D)-87

102

(D)22

-1(*)-8-1(*)(*)

4(D)-7

-40(*)-6

33

-25-510

56296

3137974

-193-14

(*)3

1760

-273

(D)0

(D)

2,43157888

564155203479109110146-2

0122

(*)1

(*)2110

-473

(*)50

(*)

— 412

1 57218,992

1987

763175186-1

-10116

-27588

24267297

(D)(D)

20

(D)(*)1

(*)-2(*)100

24(D)30101

-621

2̂-3-5

1(*)5

(D)-5

-26(D)-3

41

128

13

38072

270138

-99-118

-8(*)

2-8

40

(*)2

(D)0

(D)

4,0161,064

71975228194734176399173

20321

(*)1

4312

-683130

(*)

— 63

189627,084

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 11.2. European Communities (12) comprises European Communities (10), Portugal, and Spain.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 69: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 67

Table 30.—U.S. Direct Investment Abroad: Industry Detail for Selected Items[Millions of dollars]

Line

1

234

56789

101112131415

16

17181920212223242526

2728293031323334

3536373839404142

43444546

474849

5051525354555657

58596061626364

656667

6869707172737475767778798081828384

858687888990919293

All industries

PetroleumOil and gas extraction

Crude petroleum extraction (no refining) andnatural gas.

Oil and gas field servicesPetroleum and coal products . .

Integrated petroleum refining and extractionPetroleum refining without extractionPetroleum and coal products, nee

Petroleum wholesale tradeOther.

Petroleum tanker operationsPetroleum and natural gas pipelinesPetroleum storage for hireGasoline service stations

Manufacturing

Food and kindred productsGrain mill and bakery products

Grain mill productsBakery products

BeveragesOther

Meat products..Dairy products.Preserved fruits and vegetablesOther food and kindred products

Chemicals and allied productsIndustrial chemicals and syntheticsDrugsSoap cleaners and toilet goodsAgricultural chemicalsOther

Paints and allied productsChemical products nee

Primary and fabricated metalsPrimary metal industries

FerrousNonferrous

Fabricated metal productsMetal cans and shipping containersCutlery, hand tools, and hardwarePlumbing fixtures and heating equipment, ex.

electric.Fabricated structural metal productsScrew machine products, bolts, etcMetal stampings and forgingsFabricated metal products, nee, ordnance, and

services.

Machinery, except electricalFarm and garden machineryConstruction, mining, and materials handling

machinery.Office and computing machinesOther

Kngines and turbinesMetalworking machinerySpecial industry machineryGeneral industry machinery and equipmentRefrigeration and service industry machineryMachinery except electrical nee

Electric and electronic equipmentHousehold appliancesRadio, television, and communication equipment ....Electronic components and accessoriesOther....

Electric lighting and wiring equipmentElectrical machinery, nee

Transportation equipmentMotor vehicles and equipmentOther....

Other manufacturingTobacco manufacturesTextile products and apparel

Textile mill products

Lumber wood furniture and fixturesLumber and wood productsFurniture and fixtures

Pulp, paper and board millsMiscellaneous converted paper productsPaperboard containers and boxes ...

Printing and publishingRubber productsMiscellaneous plastics productsGlass productsStone, clay, and other nonmetallic mineral

products.Instruments and related products

Scientific and measuring instrumentsOptical and opthalmic goodsMedical instruments and suppliesPhotographic equipment and suppliesWatches, clocks, and watchcases

OtherLeather and leather productsMiscellaneous manufacturing industries

Direct investment position

1983

207,203

57,57428,93022,877

6,05317,21110,1266,973

1129,4341,9981,472

17990

258

82,907

7,6612,1081,717

3911,7353,818

208735413

2,462

18,7888,6984,3562,534

7882,412

4541,958

4,9741,301

597704

3,673747498152

466156336

1,317

14,294395

2,319

8,0573,522

630587519

1,084402300

7,3281,1391,8432,2732,073

4801,593

10,5129,593

919

19,3501,7211,293

713580567338229

3,8821,6591,706

517547

2,1061,118

732960

5,486977

80714

3,68728

93874

864

1984

211,480

58,05130,22224,310

5,91217,2219,8717,209

1428,8011,8071,101

19764

445

85,865

8,1562,0871,703

3841,7544,315

189760459

2,906

19,2009,2174,4382,316

8212,407

4261,982

5,2561,509

614894

3,747744510126

452155444

1,315

14,816285

2,237

9,0793,215

428565495997445284

8,1931,1032,0732,8932,124

5081,617

10,6649,754

910

19,5811,6741,169

738431587354233

4,3511,8101,983

558579

2,0281,197

693942

5,5121,103

(D)739

3,533(D)

85179

771

1985

230,250

57,69531,36625,546

5,82016,4658,6257,646

1948,0481,8161,262

25783

215

94,700

9,2522,6261,978

6471,8524,774

287686545

3,256

20,2739,1044,9402,4401,0962,692

6202,073

5,0121,417

716701

3,595481673152

366182427

1,314

18,987406

2,257

12,7473,577

497538636986524396

8,5151,0802,2833,1701,982

4081,574

11,71910,865

854

20,9421,9381,249

788461660445215

4,8221,6332,432

757612

2,2031,343

7291,012

5,4931,191

(D)111

3,330(D)

88186

795

1986

259,562

61,73133,62728,439

5,18817,4639,7707,530

1638,8511,7901,122

264(D)(D)

104,877

10,9683,0452,207

8382,6535,270

337760553

3,620

22,7419,8486,2422,5501,1082,994

6842,310

5,3111,469

586883

3,841556629174

352199531

1,400

22,401588

2,230

15,7113,872

565508717

1,141511430

7,4051,300

904,1851,830

3701,460

14,18613,0711,115

21,8652,2991,154

795359480300180

4,8501,6592,768

423693

2,1761,673

8691,038

5,7341,192

155984

3,36340

89983

815

1987

308,793

66,38136,57931,539

5,04018,78110,5348,059

1889,2961,7251,013

255243213

126,640

12,6433,4682,556

9122,9426,232

334919653

4,326

26,91411,4517,6442,9131,1793,727

7133,014

5,6621,563

707856

4,099651440212

398233666

1,499

27,344509

2,862

19,6744,299

600493744

1,344623495

9,7841,582

7815,1702,251

6021,649

17,70816,3601,348

26,5843,2071,338

892446533325207

5,5431,7443,112

687944

2,6412,1851,1301,275

6,8491,500

1501,1913,970

3893893

845

Capital outflows (inflows (-))

1983

373

-6972,1611,689

473-1,699-2,059

3528

-1,2488832272063

-775

257053170

-46-31100

-70-44

116224533657

12141

-162

-249-313-68

-24564277

-3

-10-6

-55103

134-89

-469

41014

-48-27

1021535

-21-28-51208

-150-91-60

140196

-56

651-156-32-10-23

179

-26322

-2041

-12020

1014966

-193

262120386

112-14

34

-1

1984

2,821

-5651,7091,896

-187-581-40

-5477

-1,411282403

186

97

1,862

478-30-45

15211296-19

2352

240

242364

6415840602989

33127

4123

-94-19-3

-57

-171

-3635

216-88-28

625-293

230269

-936316

7603

188587

17-95

78

2937-8

104-46

-139-4135

14-37

232711607139341

8946

-80

3370(D)33

-163(D)675

62

1985

18,068

-1,4331,2491,134

115-2,189-2,616

450-225233010217

-7

9,043

1,196461314147170565805996

329

78279

5666564

13636

100

6272

110-38-11-37

51-6

-702330-2

3,99615

109

3,56930331

460717166

275-588

16922

-5679

1,0651,116-51

1,666265112516132

-19-134391561849968

1551646670

30378(D)36

159(D)567

50

1986

27,811

3,9642,2332,679

-4451,0971,174-95

18867233190

5(D)(D)

9,838

1,469450265185559460

347316

337

1,932921924

6514

13833

105

571231-35266340594054

-734

12139

3,675130

-32

3,343235641786153816

-1,374173

-2,217647

22-25

48

1,9141,634

280

1,651389

18171

47389

258-76317

175436

229160133

440138(D)

135164(D)65-368

1987

44,455

4,6572,8933,054

-1611,282

764493

26390912216(D)(D)

20,087

1,63046938683

299863-4159122586

4,0931,6321,376

40038

6477

641

2192

47-4521795

-18931

037

136107

4,691-76316

3,971481351586

16511071

1,419280-49843345185161

3,4563,277

179

4,5789081859788522527

72486

336303256492508136210

1,111306-5206607-3-310

-13

Income

1983

20,499

9,4416,8755,660

1,2141,6591,352

29313

779128

255(D)(D)

4,585

67617114922

224281-2911922

168

1,120414459

946390-697

1600

-99

1602

4515

368

1972

1,036-61-98

1,22429

-63-27

288

223

55211

159365

18-219

590443147

452748

433528208

144-8143

943

-19-17

6-67

225113(D)80

0(D)27

522

1984

21,217

9,2697,3356,605

7301,6641,234

41019

232389767(D)(D)

5,839

68361583

224398

1111527

244

1,2067282952172901

90

2921032479

1902965-7

47111332

1,389-15-72

1,4761

-595

24-15

416

86236

169598

59-161

495320174

913-21

8694

g-9

-3021

343182109524876

1372635

190102(D)75

-25(D)

25

-4

1985

33,202

9,3066,8406,387

4531,6691,096

5711

74751

-35581315

14,677

1,61937825412444779372

15649

516

2,3208707878212

56855

514

4531578671

29632

13630

5295013

4,738(D)(D)

(D)379682289887141

1,04211627444620752

155

2,0051,762

243

2,5013251407366481137

623261252109108272207113104

4711543180

209-3901080

1986

38,417

8,0653,3683,822

4543,3761,8611,486

301,178

1437134(D)

(D)

17,911

2,091442276166723926

4617973

628

3,8961,4181,265

47696

64088

552

72420073

12752482

14446

75317175

5,096-39

33

4,694408-522

1101457265

1,37111634069821759

159

1,3471,119

228

3,3854441639568443212

72521243380

107346400197196

655221

20180242-7108

7101

1987

52,308

8,1304,9715,015

-432,2701,499

74229

7909723392313

27,041

2,784786633153847

1,15151

204125771

5,3691,9631,775

607120904148756

1,17037087

28479914813240

7948

148204

6,5420

143

5,7736276240

1002568781

1,57323435

939366142224

3,9793,700

279

5,624883245131114825626

1,041375591

76210634589306280

1,196230

(D)262675

(D)15810

148

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 70: SCB_081988

68 SURVEY OF CURRENT BUSINESS August 1988

Table 30.—U.S. Direct Investment Abroad: Industry Detail for Selected Items—Continued[Millions of dollars]

Line

949596979899

100

101102103104105106107108109110

111

112113114115116117118119120121122123124

125126127128129

130131132133

134

135136137138139140141142143144

145146147148149150151152153154155156157158159160161162163164165166167168169170171172173174175176177

Wholesale tradeDurable trade . .

Motor vehicles and equipmentLumber and other construction materialsMetals and minerals.Electrical goodsHardware, plumbing, and heating equipment and

supplies.Farm and garden machinery and equipmentMachinery, equipment and supplies, nee ....Durable goods, nee

Nondurable goodsPaper and paper productsDrugs, proprietaries, and sundriesApparel piece goods and notionsGroceries and related productsFarm product raw materialsNondurable goods nee

Banking

Finance (except banking), insurance, and real estate-

Franchising, business.. .Other

InsuranceLife insuranceAccident and health insuranceOther

Real estateLessors of agricultural and forestry real estateReal estate nee

Holding companiesNonbusiness entities except Government

ServicesHotels and other lodging placesBusiness services

AdvertisingManagement, consulting, and public relations

services.Equipment rental (ex. automotive and computers)..Computer and data processing servicesOther

Research and development and testinglaboratories.

Employment agencies and temporary helpsupply services.

OtherMotion pictures, including television tape and film....Engineering, architectural, and surveying servicesHealth servicesOther services ...

Automotive rental and leasingAccounting, auditing, and bookkeeping servicesLegal servicesEducational services.Other services provided on a commercial basis

Other industries...Agriculture, forestry, and fishing

Agricultural production — cropsAgricultural production — livestock .Agricultural production— beef cattle feedlots.Agricultural services.ForestryFishing, hunting, and trapping

Mining .Metal mining.

Iron oresCopper, lead, zinc, gold, and silver ores.Bauxite and other aluminum oresOther metallic oresMetal mining services

Nonmetallic mineralsCoalNonmetallic minerals, except fuels.

ConstructionTransportation, communication, and public utilities.

TransportationRailroadsWater transportationTransportation by airPipelines, except petroleum and natural gasTravel agents,Transportation and related services, nee.

Communication and public utilitiesCommunicationElectric, gas, and sanitary services.

Retail tradeFood stores and eating and drinking placesRetail trade, nee.

Direct investment position

1983

21,27814,814

602103610

1,641194

4549,8791,3326,464

1771,637

256801715

2,878

12,387

15,075-13,095

(D)(D)

7,9471,231

5656,150

5580

55819,666

0

4,670446

1,959354698

212193503

(D)

(D)

373632,599225809292

16(D)(D)

473

13,312528328119

08

703

5,5144,0201,0382,284

41725625

1,494865629937

2,4271,814

(D)1,206

650

(D)539613137476

3,9061,4832,423

1984

21,11714,651

46682

6681,710

141

4159,7411,4286,466

2401,517

214871802

2,821

13,516

15,683-13,575

-7-13,568

8,0391,432

5326,075

4450

44520,774

0

4,447462

1,903374666

127141594

(D)

(D)

484590673203617225

14(D)(D)

345

12,799729510136

03

773

4,9023,826

9222,277

(D)(D)28

1,076494582

1,0692,3731,703

(D)1,171

1370

(D)441669154516

3,7271,4082,319

1985

22,79016,450

84467

5331,744

151

46410,8761,7716,340

2291,343

195954671

2,947

14,461

22,501-8,980

10-8,990

8,3221,482

6326,208

3840

38422,775

0

4,683548

1,882361683

152138548

(D)

(D)

42966458739860327549(D)(D)

242

13,421497271141

012703

4,9163,612

9372,201

(D)(D)29

1,304755550

1,3312,6791,679

(D)1,040

1950

(D)478

1,000618383

3,9971,4272,570

1986

26,16818,559

91153

4282,008

314

60112,2342,0107,609

2571,505

3321,147

6553,713

14,576

34,413-2,485

(D)(D)

8,8381,418

7926,628

3480

34827,712

0

4,866600

2,399376811

449198565(D)

(D)

41775751299

49921948(D)(D)

193

12,931390215101

0(D)58(D)

4,0683,130

7832,085

26101

938635303

1,3132,5341,600

(D)1,043

610

(D)569934659276

4,6261,8232,803

1987

31,33021,803

98261

5642,118

354

94714,4072,3699,527

3581,590

4961,438

7994,848

15,354

49,0974,850

1304,719

10,6751,598

9498,1271,854

01,854

31,7180

6,812789

3,059446870

651340751

(D)

(D)

58586857262390134586(D)(D)

428

13,179504300107

0146221

3,9082,882

7671,832

(D)(D)6

1,026680346

1,2292,3741,467

(D)865610

(D)609907651256

5,1641,9993,165

Capital outflows (inflows (— ))

1983

6702

-1021848

2641

-188146-89668

08538

16150

333

1,995

-1,3603376

(D)(D)

71654

122540

606

1,2940

13311810036

116

18-27-43

(D)

(D)

-65-20

1712232

-53-33

(D)(D)

115

407-39-17

6041

-3397

205-148

38032

-611

-108-137

299

9587(D)

120-10

0(D)

-358

25-17245139106

1984

45555437

-2157

291-3

-80419-73-99

32-85-46

1992

-111

1,246

394-328

(D)(D)

103226-33-90-45

045

6640

37-31125

1745

-15-27105(D)

(D)

94-63

37-23-9

-650

(D)

51

-608143122190

7_]_

-666-123-95-6(D)(D)3

-542-495-47

67-178-178

(D)-119

720

(D)-95

015

-14271115

1985

1,8341,392

198-23-2711410

-221,065

77442231925

247-84263

1,094

7,2464,899

174,882

537150100287

404

1,8060

27856

-803

-75

-53-13

58(D)

(D)

5074

-651831096539(D)

10

7-244-245

504

: -7

-1

-97-239

54-58

(D)(D)1

142168

-26231

12126(D)38580

(D)37

-11426

-140105

-56160

1986

2,3521,529

134-13-7715942

1281,001

154824

4714018

199-50470

-529

12,2517,375

(D)(D)

369-205

153421-7

07

4,5130

2192356

-54-104

2043323(D)

(D)

-52676372

-63-15-1(D)

-49

-283-118-89-14

0(D)

-16(D)

-811-512-154-171

(D)(D)-1

-299-120-179-61273200

(D)-3100

(D)2167363

9434202232

1987

5,0403,198

687

12811532

3452,146

3571,841

10117

163293129

1,139

604

13,8297,259

(D)(D)

1,73794

1571,4861,468

01,4683,365

0

1,9471876467060

183134199(D)

(D)

18211061

56338010138(D)

237

-1,708512260

(D)4

(D)-905-968-16

-713(D)(D)

633131

-54-263-232

(D)-139

10

(D)-98-31-31

0-537-612

75

Income

1983

1,637945

622046

19014

-2473030

69215

.8539

160124269

2,889

2532,424

02,424

99474

123797

101

1,6820

73519

28361

113

417

608

6

467769

177111-513(D)

84

959354090

-1(D)(D)

128-41-27

3454

-1043

16912841

205351288-11328100

77633231

23917466

1984

2,2101,424

131758

2106

-251,106

3978623533

18266

458

2,630

642,355

4-2,358

858214

0644

150

151,545

0

64526

2475682

24-6913

5

848185

103102

-126

(D)

90

559-4

-1680

-1(D)(D)

1585837

-2065

-263

1006535

117166200-2855202

64-34

28-621229825

1985

3,1612,373

1634

66232

10

-101,822

8678835

12932

20252

339

2,886

1,464-1,866

3-1,869

1,167310

84772

260

262,137

0

72068

2776489

445

74(D)

(D)

536944

101161879

(D)

49

98812(D)(D)03

(D)(D)

10295

122-18

31-41

2716

250289119_]_

868

00

4417058

112335184151

1986

4,4933,125

3125

4525728

312,208

2401,367

6224810728998

563

2,495

3,657-999

81,0061,197

193128877

110

113,447

0

7051062896188

82

131(D)

(D)

95892475

12162296

43

1,09346

. 2790280

169154123-11

82-39-116133

10121893-4

-183700

781257550

558262296

1987

6,6334,482

3424

6437541

893,178

3902,151

7928819034550

1,200

2,152

5,640414-1412

1,749201192

1,356600

604,245

0

1,23118854793

137

-1397

233(D)

>)

199719329

304641196

214

1,4808850902

(D)(D)

182182389761

-1621

-404191

25189-3

01700

761616795

867389478

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 71: SCB_081988

Foreign Direct Investment in the United States: Detail forPosition and Balance of Payments Flows, 1987

The following 23 tables contain BEA's country-by-indus-try estimates, and estimates by detailed account, of the po-sition and related capital and income flows for foreigndirect investment in the United States. They also containestimates of the position, capital flows, and income for allcountries and for all industries in which there was invest-ment.

Summary position and flow estimates, and analyses ofthe estimates, were published in the June SURVEY OF CUR-RENT BUSINESS. Two other articles on foreign direct invest-ment in the United States—"U.S. Business EnterprisesAcquired or Established by Foreign Direct Investors in1987," and "U.S. Affiliates of Foreign Companies: Oper-ations in 1986"—appeared in the May SURVEY.

NOTE.—The quarterly survey from which the annual estimates of for-eign direct investment in the United States were derived was conductedby Gregory G. Fouch, under the supervision of James L. Bomkamp,Chief, Foreign Direct Investment in the United States Branch. Tracy K.Leigh assisted in preparing the estimates. Smith W. Allnutt III, Chief,Data Retrieval and Analysis Branch, designed the computer programsfor data retrieval and tabular presentation.

Table 1.—Foreign Direct Investment Position in the United States

All areasPetroleumManufacturingWholesale tradeOther

CanadaPetroleumManufacturingWholesale tradeOther

EuropePetroleumManufacturingWholesale tradeOther

Of which:Netherlands

PetroleumManufacturingWholesale tradeOther

United KingdomPetroleumManufacturingWholesale tradeOther

JapanPetroleumManufacturingWholesale tradeOther

OtherPetroleumManufacturingWholesale tradeOther ....

Direct investment position

Millions of dollars

1985

184,61528,27059,58429,05167,711

17,1311,5894,6071,5329,403

121,41325,63645,84113,77836,158

37,05611,48113,3512,158

10,066

43,55512,15511,6874,044

15,670

19,31331

2,73811,7964,748

26,7581,0146,3981,945

17,401

1986

220,41429,09471,96333,99785,360

20,3181,4326,1081,496

11,282

144,18126,13956,01616,43045,596

40,717(D)

13,2932,621

(D)

55,93511,75816,5005,676

22,001

26,824-34

3,57813,6879,593

29,0911,5566,2612,384

18,890

1987

261,92735,39591,02537,58097,927

21,7321,4337,4782,393

10,427

177,96332,78770,59818,39156,188

47,048(D)

16,1202,205

(D)

74,941(D)

23,5106,958

(D)

33,36130

5,23214,66713,43228,871

1,1457,7182,128

17,880

Change

Millions of dollars

1986

35,799824

12,3794,946

17,649

3,187-1571,502-36

1,878

22,768503

10,1752,6529,438

3,661(D)

-58463

(D)

12,380-3974,8131,6326,332

7,511-65840

1,8914,8442,333

543-137

4391,489

1987

41,5136,301

19,0633,583

12,567

1,4141

1,370897

-854

33,7826,648

14,5821,960

10,592

6,331(D)

2,826-416

(D)

19,006(D)

7,0101,282

(D)

6,53764

1,654980

3,840-220-4111,458-255

-1,011

Percent

1986

19.42.9

20.817.026.1

18.699

32.6-2.420.0

18.82.0

22.219.326.1

9.9(D)

-.421.4

(D)

28.4-3.341.240.440.4

38.9( l )

30.716.0

102.08.7

53.5-2.122.68.6

1987

18.821.726.510.514.7

7.0.1

22.460.076

23.425.426.011.923.2

15.5(D)

21.3-15.9

(D)

34.0(D)

42.522.6

(D)

24.40)

46.27.2

40.0-.826423.3107

-5.4

D Suppressed to avoid disclosure of data of individual companies.1. Percent change is not defined because the position is negative in 1 of the 2 years.

Table 2.—Foreign Direct Investment Position in the United States by Account[Millions of dollars]

AH areasPetroleumManufacturingWholesale trade.Other .

CanadaPetroleum.Manufacturing ..Wholesale trade .Other.

Europe .Petroleum.ManufacturingWholesale tradeOther.

Of which:Netherlands

Petroleum.Manufacturing.Wholesale trade .Other.

United KingdomPetroleum.Manufacturing.Wholesale trade .Other.

JapanPetroleum.ManufacturingWholesale trade .Other.

Other.PetroleumManufacturingWholesale tradeOther

1986

Total

220 41429^09471,96333,99785,360

20,3181,4326,1081,496

11,282

144,18126,13956,01616,43045,596

40,717(D)

13,2932,621

(D)

55,93511,75816,5005,676

22,001

26,824-34

3,57813,6879,593

29,09115566,2612384

18890

Equity 1

162 11721^02749,80023,03768,253

15,323712

4,890600

9,121

105,40419,94038,71511,31935,430

30,157(D)

9,0811,737

(D)

38,325(D)

11,8003,652

(D)

19,03247

2,40610,0266,554

22,357328

3,7891 091

17448

Intercompany debt

Net

582978^067

22,16310,96017,107

4,995720

1,218896

2,161

38,7776,200

17,3015,111

10,165

10,560430

4,212884

5,034

17,611(D)

4,7002,024

(D)

7,792-81

1,1723,6613,039

6,73412282,4711 2921,742

U.S.afffiliates'payables

76 1748^862

26,54715,50425,261

5,704794

1,4491,0142,446

50,4926,710

20,8486,977

15,957

11,067(D)

4,428946(D)

22,561(D)

6,6392,718

(D)

10,40249

1,2965,4643,593

9,5761,3102,9532,049

U.S.afffiliates'receivables

17 877'795

4,3844,5438,154

71074

231119286

11,715510

3,5471,8665,792

507(D)

21662(D)

4,950193

1,940693

2,124

2,611129124

1,803555

2,84282

482756

1,522

1987

Total

261 92735^39591,02537,58097,927

21,7321,4337,4782,393

10,427

177,96332,78770,59818,39156,188

47,048(D)

16,1202,205

(D)

74,941(D)

23,5106,958

(D)

33,36130

5,23214,66713,432

28,8711 1457,7182128

17,880

Equity 1

189 66822/74463,77524,73778,413

16,318689

6,1631,5657,901

123,91821,17248,17210,98343,591

32,968(D)

10,0121,010

(D)

48,4006,187

16,2534,193

21,766

23,882133

3,55910,9209,271

25,550749

5,8821269

17;649

Intercompany debt

Net

72,25912,65227,25012,84319,514

5,414744

1,315828

2,526

54,04511,61522,4267,408

12,596

14,079292

6,1071,1956,484

26,541(D)

7,2562,764

(D)

9,479-1031,6733,7474,162

3,322396

1,836859230

U.S.afffiliates'payables

91,82113,36931,98117,33929,133

6,690832

1,9291,0142,916

64,92511,99125,7998,567

18,568

14,388305

6,1781,2636,642

32,241(D)

9,0543,106

(D)

12,45551

1,7886,0454,571

7,752495

2,46617133.078

U.S.afffiliates'receivables

19 562717

4,7314,4969,618

1,276- 88

613185389

10,879376

3,3731,1595,972

309127168

158

5,700241

1,798341

3,320

2,976154115

2,298409

4,43199

630854

2,848

D Suppressed to avoid disclosure of data of individual companies.1. Includes capital stock, additional paid-in capital, and retained earnings. 69

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 72: SCB_081988

70 SURVEY OF CURRENT BUSINESS August 1988

Table 3.—Change in the Foreign Direct Investment Position in the United States by Account[Millions of dollars]

All areasPetroleumManufacturingWholesale tradeOther

CanadaPetroleumManufacturingWholesale tradeOther

EuropePetroleumManufacturingWholesale trade..Other

Of which:Netherlands

PetroleumManufacturingWholesale tradeOther

United KingdomPetroleumManufacturingWholesale tradeOther

JapanPetroleumManufacturingWholesale tradeOther

Other. ..PetroleumManufacturingWholesale tradeOther

All areasPetroleum ...ManufacturingWholesale tradeOther

CanadaPetroleum ..ManufacturingWholesale trade .Other

EuropePetroleum. ..Manufacturing .Wholesale tradeOther

Of which:Netherlands .

Petroleum...ManufacturingWholesale tradeOther

United KingdomPetroleumManufacturingWholesale tradeOther

Japan . ....PetroleumManufacturingWholesale tradeOther

OtherPetroleumManufacturingWholesale tradeOther

Total

Capital inflows

Total

Equity capital

Net Increases DecreasesReinvestedearnings

Intercompany debt

NetIncreasesin U.S.

affiliates'payables

Increasesin U.S.

affiliates'receiv-ables *

Valuationadjust-ments

1986

35,799824

12,3794,946

17,649

3,187157

1,50236

1,878

22,768503

10,1752,6529,438

3,661(D)

-58463

(D)

12,380-3974,8131,6326,332

7,511-65840

1,8914,844

2,333543137439

1,489

34,091662

11,8654,679

16,885

2,547137

1,239-1151,559

21,730272

9,3512,6889,419

4,374(D)

-103467

(D)

10,827-5114,8591,5855,094

7,268-65938

1,7754,620

2,547592337331

1,287

25,0861,2269,4881,914

12,459

1,80332

271209

1,291

15,468975

7,3731,2855,835

2,91326

289188

2,411

5,088311

1,713701

2,362

3,83719

883240

2,695

3,978200961179

2,638

30,6631,284

12,2842,005

15,090

2,926(D)(D)

2091,980

18,7671,0159,1401,3597,254

3,25126

374236

2,615

6,667(D)(D)(D)

2,987

3,949(D)(D)

2422,783

5,021208

1,544195

3,073

5,57859

2,79692

2,631

1,123(D)(D)

0689

3,30040

1,76674

1,419

3380

8548

204

1,580(D)(D)(D)

625

112(D)(D)

288

1,0439

58415

435

2 2931 114

-1,897394324

675-310

371-586-149

711-779-114

4551,149

7796251268759

5541 045

42296

1,081

110-10

-259493

-114

2 43915

1 89432

562

11,298550

4,2742,3714,103

1,419142597262418

5,55175

2,092949

2,435

682(D)

-518192(D)

5,185223

2,523788

1,651

3,321-74315

1,0412,039

1,008407

1,270120788

13,41290

5,2932,8235,206

1,15294

367257433

8,003-3033,3061,4923,508

85326

345153

1,072

5,84635

3,139951

1,792

2,650-89370959

1,411

1,607388

1,250116146

2,113-4611,019

4521,103

26748

2305

15

2,452-3781,214

5431,073

172(D)

17340(D)

661-258

615163141

6701555

-83-628

599-19-20-4642

1,708162514267764

64020

26379

319

1,039232824-36

19

-71429445-5

- 1,049

1,553113155

471,238

2430

99117225

214-49

-474108202

1987

41,5136,301

19,0633,583

12,567

1,4141

1,370897854

33,7826,648

14,5821,960

10,592

6,331(D)

2,826-416

(D)

19,006(D)

7,0101,282

(D)

6,53764

1,654980

3,840

220411

1,458255

-1,011

41,9776,410

20,4433,549

11,575

959-26988890

-894

34,9746,801

16,4492,0209,703

7,871(D)

4,355354

(D)

18,562(D)

7,1081,183

(D)

6,18164

1,639931

3,547

137430

1,367-293-780

25,477447

13,210224

11,597

6357

708326

-407

16,28020

9,176-4507,574

3,521-32

2,248761

2,065

7,739(D)

3,343205(D)

4,34091

993318

2,939

4,222369

2,33229

1,491

29,376559

13,5591,221

14,038

1,9807

715328930

18,186(D)

9,380(D)

8,258

4,606(D)

2,265(D)

2,183

7,9299

3,407255

4,258

4,443(D)

998(D)

2,993

4,768391

2,46554

1,857

3,899113349997

2,440

1,345(*)

71

1,337

1,906(D)

204(D)

684

1,085(D)17(D)

117

190(D)6450(D)

103(D)

5(D)54

54622

13325

366

2,5371,3782,1461,450

-2,437

-95-57183631853

3,4261,4062,149

181309

831(D)

21197(D)

1,893335

1,209238112

1534

145528515

-94733

-330110

-760

13,9624,5855,0881,8762,414

419249767

365

15,2685,4165,1252,2892,439

3,519137

1,895311

1,451

8,930(D)

2,557740

(D)

1,68723

50186

1,123

-3,412-832-635-433

-1,512

15,6474,5065,4341,8273,879

98638

4801

469

14,4335,2814,9501,5832,619

3,321(D)

1,750316

(D)

9,680(D)

2,415388

(D)

2,0522

492581977

-1,823-814-488-335-186

1,685-78347-48

1,465

56614

38366

104

-835-135

174707180

-198(D)

1456

(D)

75048

142352

1,195

36525

_9495

-145

1,58818

14897

1,326

-463-108

-1,38134

992

45527

3817

40

1 192153

1868-60889

154013

- 1,528-62

63

443-141

9999

584

3560

1549

293

-83199138

-230

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. An increase in U.S. affiliates' receivables is a decrease in intercompany debt and, thus, a capital outflow.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 73: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 71

Table 4.—Foreign Direct Investment in the United States: Earnings and Reinvestment Ratios[Millions of dollars or ratio]

1986

Earnings

Total Distributed Reinvested

Renivest-ment

ratio 1

Earnings

Total Distributed Reinvested

Renivest-ment

ratio l

1986-87 change in earnings

Total Distributed Reinvested

All areas 2,406Petroleum -209Manufacturing -1,025Wholesale trade 1,203Other 2,438

Canada 246Petroleum -236Manufacturing 431Wholesale trade (D)Other (D)

Europe 3,390Petroleum 47Manufacturing 563Wholesale trade 772Other 2,008

Of which:Netherlands 1,253

Petroleum (D)Manufacturing 434Wholesale trade IllOther (D)

United Kingdom 1,694Petroleum (D)Manufacturing 562Wholesale trade 149Other (D)

Japan 837Petroleum -9Manufacturing -239Wholesale trade 590Other 495

Other -2,066Petroleum -11Manufacturing -1,781Wholesale trade (D)Other (D)

4,700904872809

2,114

9217461(D)(D)

2,679826678317859

474

30823

1,140

14053

727(*)2097

609

3734

113

-2,293-1,114-1,897

394324

-675-310

371-586-149

711-779-114

4551,149

77962512687

-59

554-1,045

42296

1,081

110-10

-259493

-114

-2,439-15

-1,89432

-562

.13

.86

.21

.59

.57

.29

.79

.33

.75

.65

2 -13

.84

6,8391,7743,1381,791

136

70411

221645

-172

5,7751,7302,928

427

1,446

107-367

2,766

1,321250

925-4166584178

-56536

-177135

-559

4,302396991342

2,573

800

2,349324780246

6159

872

11212

7711

2157

15325

201

2,5371,3782,1461,450

-2,437

-95-57183631

-853

3,4261,4062,149

181

21197

1,893335

1,209238112

153-4145528

-515

-94733

-330110

-760

.37

.78

.81

.59

.81

.73

.42

.91

.95

.17

.87

.90

.91

.82

4,4321,9834,163

588-2,302

458248

-211

2,3851,6832,365-345

-1,319

193

-3

1,072990759101

-778

6405-6

-317

1,50246

1,604

-398-508

119-468

459

-122-6

-23

-330-501

102-70140

141

-1313

-267-390-28-41191

45(*)1

-4084

9-140

4,8302,4924,0431,055

-2,760

580254

-1881,217-703

2,7152,1852,263-274

-1,459

859

1,3391,380

787' 142-969

436

40434

-401

1,49248

1,56478

-197

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. Reinvested earnings divided by earnings.2. Reinvestment ratio is not defined because reinvested earnings are negative.

Table 5.—Foreign Direct Investment in the United States: Income[Millions of dollars]

All areasPetroleumManufacturing....Wholesale trade..Other

CanadaPetroleumManufacturingWholesale trade..Other

EuropePetroleumManufacturingWholesale trade...Other

Of which:Netherlands

PetroleumManufacturingWholesale trade-Other

United KingdomPetroleumManufacturing....Wholesale trade..Other

JapanPetroleumManufacturingWholesale trade..,Other

OtherPetroleumManufacturingWholesale tradeOther

Income

1985

6,0792,153

2002,4121,314

348100

818

223

5,2402,1001,3241,083

733

2,131

485206

2,127854767

98409

1,561-6

-1951,274

-1,071-40

-93736

-129

1986

5,37930275

1,4913,510

390-236

495-204

335

5,701498

1,5221,0002,681

2,179692854172462

2,611-35707255

1,683

1,009-9

-215616617

-1,72250

-1,72778

-123

1987

10,5042,4564,5152,0931,440

89610

252662

-28

8,7172,4004,125711

1,481

2,382

1,067182

4,3551,2031,758396999

1,178-3202601378

-28750

-64119

-391

Change

1986

-700-1,850-125-9212,196

42

-222112

460-1,602

197-831,948

48

369-35

484-888-59157

1,274

-552-3-20-658130

-65190

-789426

5,1252,1544,440601

-2,070

506246

-243

3,0161,9022,603-290

-1,200

203

21311

1,7451,2371,051141

-684

1686

417-15-239

1,4350

1,66340

Table 6.—Source and Relationship of Income and Its Components[Millions of dollars]

Line

EarningsCapital gains/lossesEarnings before capital gains/losses....

Distributed earnings..Reinvested earnings...

Withholding taxes on distributed earnings...

Interest (net of withholding taxes)

Income

Income before capital gains/lossesEarnings (net of withholding taxes)Distributed earnings (net of withholding taxes)

1987amount

-1827,021

4,3022,537

144

3,810

10,504

10,6866,6954,158

Source and relationship

2 + 3Reported 1

Extrapolated 2

6 + 111 - 4

Extrapolated 2

Extrapolated 2

1-6 + 7

8 - 21 - 6Extrapolated 2

1. Data are as reported by the sample; no estimate for nonreporting affiliates is made.2. Universe estimates are calculated by extrapolating forward data from the 1980 benchmark

survey, based on the movement of reported sample data in subsequent years.

3 Suppressed to avoid disclosure of data of individual companies.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 74: SCB_081988

72 SURVEY OF CURRENT BUSINESS August 1988

Table 7.—Foreign Direct Investment in the United States: Income and Rate of Return[Millions of dollars or percent]

All areasPetroleumManufacturingWholesale tradeOther

CanadaPetroleumManuf actu ringWholesale tradeOther

EuropePetroleum

Wholesale tradeOther

Of which:Netherlands

PetroleumManufacturing ....Wholesale tradeOther

PetroleumManufacturingWholesale tradeOther

JapanPetroleumManufacturingWholesale tradeOther

OtherPetroleumManufacturingWholesale tradeOther

1986

Income

Total(=col. 2

lesscol. 5plus

col. 6)

(1)

5,37930275

1,4913,510

390236495204335

5,701498

1,5221,0002,681

2,179692854172462

2,61135

707255

1,683

1,009-9

-215616617

1 72250

-1,72778

-123

Earnings

Total

(2)

2,406-209

-1,0251,2032,438

246-236

431(D)(D)

3,39047

563772

2,008

1,253(D)

434111(D)

1,694(D)

562149(D)

837-9

-239590495

2 066\\

-1,781(D)(D)

Beforecapitalgains/loses

(3)

4,461919

1,2171,1001,225

226(D)

12825(D)

4,187(D)

1,651599

(D)

1,25465043710860

2,186297857154879

60010

-179427362

-553-5

-38349

214

Capitalfains/osses

(4)

-2,054-1,128-2,242

1031,213

20(D)

304(D)

162

797(D)

^1,087173(D)

1(D)-3

2(D)

492(D)

-294-5(D)

237(*)

-60164133

-1,514— 5

-1,398(D)(D)

With-holdingtaxes ondistrib-

utedearnings

(5)

17544652245

1778

(D)(D)

12237481027

244

1423

6430163

15

23(*)

21011

14(*)

7(D)(D)

Interest (net ofwithholding taxes)

Net

(6)

3,148555

1,165310

1,117

1617

723

79

2,433488

1,006239700

950(D)

43463(D)

981(D)

161109(D)

195(*)2636

134

359606133

204

U.S.affili-ates'pay-

ments

(7)

3,990594

1,389450

1,556

1708

773

82

3,075525

1,194271

1,084

967(D)

43667(D)

1,309(D)

269122(D)

271(*)27

106138

475619170

252

U.S.affili-ates'

receipts

(8)

84239

224140439

915

(*)3

64238

18833

384

17(*)

24

11

329(D)

10813(D)

7501

704

116(*)303748

Rate ofreturn 1

(9)

2.71.1.1

4.74.6

2.1-15.6

9.2-13.5

3.2

4.31.93.06.66.6

5.6(D)

6.47.2

(D)

5.23

5.05.38.9

4.4(2)

6 84.88.6

6 23.9

-27.33.6-.7

1987

Income

(= col. 11less

col. 14plus

col. 15)

(10)

10,5042,4564,5152,0931,440

89610

25266228

8,7172,4004,125

7111,481

2,382(D)

1,067182(D)

4,3551,2031,758

396999

1,178-3202601378

-28750

-64119

-391

Earnings

Total

(11)

6,8391,7743,1381,791

136

70411

221645172

5,7751,7302,928

427689

1,446(D)(D)

107367

2,766(D)

1,321250

(D)

925_4166584178

-56536

-177135

-559

Beforecapitalgains/loses

(12)

7,0211,7513,7321,200

337

65012

316(D)(D)

5,8251,7073,211

349558

1,358(D)(D)

105399

2,759598

1,379235548

894-4172557169

-3483633(D)(D)

Capitalgains/losses

(13)

18223

-594591

-201

54(*)

-95(D)(D)

5023

28378

132

88(D)(D)

231

7(D)

-5715(D)

300

-5279

-2170

-211(D)(D)

With-

taxes ondistrib-

utedearnings

(14)

14422631544

1365

(*)2

9816497

27

322

(D)1

(D)

41(D)8

(*)(D)

15(*)

267

18(*)837

Interest (net ofwithholding taxes)

Net

(15)

3,810704

1,441317

1,348

2055

3718

146

3,041685

1,245291819

96928

40376

461

1,630637445146403

268(*)3723

208

29614

121-14175

U.S.affili-ates'pay-

ments

(16)

4,679717

1,644489

1,828

2195

4518

151

3,712698

1,436342

1,236

97728

40777

465

1,974(D)

546166(D)

334(*)3882

214

41314

12547

228

U.S.affili-ates'

receipts

(17)

86913

203172480

1418

(*)4

67213

19151

417

91414

344(D)

10220(D)

660

(*)59

6

118(*)3

6253

Rate ofreturn l

(18)

4.47.65.55.81.6

4.3.7

3.734.0-.3

5.48.16.54.12.9

5.48.27.37.5

.6

6.7(D)8.86.3

(D)

3.9(2)

4.64.23.3

-1.03.7-.95.3

-2.1

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. Income divided by the average of the beginning- and end-of-year investment position.2. Rate of return is not defined because the average position for the year is negative.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 75: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 73

Table 8.—Foreign Direct Investment in the United States: Royalties and License Fees and Charges for Other Services[Millions of dollars]

All areas . .PetroleumManufacturing '.Wholesale tradeOther....

CanadaPetroleumManufacturingWholesale tradeOther

EuropePetroleumManufacturing .... . . . .Wholesale trade ..Other...

Of which:Netherlands ...

PetroleumManufacturingWholesale trade ..Other

United KingdomPetroleumManufacturingWholesale tradeOther

JapanPetroleumManufacturingWholesale tradeOther

OtherPetroleum..ManufacturingWholesale tradeOther

1986

Royalties and license fees

Net

6028

32321854

6(D)-2

(D)

425(D)

30073(D)

-350

-22(D)(D)

995

638

23

1680

43122

3

30

-19211

U.S.affili-ates'pay-

ments

77314

45224462

9(D)(*•)(D)

558(D)

39997(D)

150

114

(*)

1245

851123

1740

46125

3

3206

224

U.S.affili-ates'

receipts

1716

130278

302

(*)

1336

9923

4

500

33(D)(D)

260

223

(')

60330

290

25

'I

Charges for other services 1

Net

-1,284-70-60

-436-719

-48-13-87

2625

-144-62-45-48

10

16(D)

301

(D)

-1268

(D)(D)

-423(*)56

-333145

-6694

15-80

-609

U.S.affili-ates'pay-

ments

1,524107670183564

44122

16247

210

75462

38596

211

77(D)

482

(D)

2273995(D)P)

1191

791623

210224424

121

U.S.affili-ates'

receipts

2,808177730619

1,283

49035

24922

184

898124429144201

61(D)181

(D)

23845

103(D)(°)

5411

23350168

8791828

103730

1987

Royalties and license fees

Net

77417

41227570

7(D)(D)

(°)(D)

559(D)

39497(D)

-20

28(D)(D)

102(D)556

(D)

219(*)49

1655

-100

(D)(D)2

U.S.affili-ates'pay-

ments

99518

567321

89

16(D)(*)

2(D)

718(D)

500136

(D)

360

3060

159(D)

10311(D)

235

£171

5

2608

126

U.S.affili-ates'

receipts

2211

1554619

90

(D)(D)1

1591

1063814

3802

(D)(D)

570

4855

160960

370

(D)(D)

Charges for other services 1

Net

-866-146

206-313-612

140-14

32(D)(D)

-20812866

-126-20

30(D)393

(D)

-114(D)

-1918(D)

-237(*)

109-199-147

-5624

-1(D)(D)

U.S.affili-ates'pay-

ments

'•"I?782178902

57420

11559

380

94935

49551

368

854

483

29

289(D)

13023(D)

1971

1314025

208114129

128

U.S.affili-ates'

receipts

2,794213576491

1,514

4343582(D)(D)

1,157163430176388

55(D)91

(D)

403(D)

14940(D)

4331

21239172

7701542(D)(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. Consists of service charges, rentals for the use of tangible property, and film and television

tape rentals. In 1987, U.S. affiliates' payments of service charges were $1,855 million, payments

of rentals for the use of tangible property were $71 million, and payments of film and televisiontape rentals were $2 million; U.S. affiliates' receipts were $2,663 million, $129 million, and $2million, respectively.

Table 9.—Foreign Direct Investment in the United States: Position and Balance of Payments Flows, 1980-87[Millions of dollars]

Direct investment position

Capital inflows (outflows(— ))Equity capitalReinvested earnings ,Intercompany debt

Income

Royalties and license fees, net payments

Charges for other services, net payments 1

1980

83046

16,91890275 1772,713

8635

378

50

1981

108 714

25,19514 79529457,455

6898

413

52

1982

124 677

13,792972323796,448

3 155

325

403

1983

137061

11,9468 699' 89

3,159

5598

405

471

1984

164 583

25,3591504428967,418

9229

597

478

1985

184,615

19,022152141 3785,186

6079

466

696

1986

220,414

34,091250862293

11,298

5379

602

-1,284

1987

261,927

41,97725,4772537

13;962

10,504

774

-866

1. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 76: SCB_081988

74 SURVEY OF CURRENT BUSINESS August 1988

Table 10.—Foreign Direct Investment Position in the United States, 1986[Millions of dollars]

All countries

Canada

Europe

European Communities (12)BelgiumFranceGermanyItalyLuxembourgNetherlandsUnited KingdomOther EC

Other EuropeSwedenSwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands Antilles ...U.K. Islands CaribbeanOther... .. .. .

Middle EastIsraelOther

Other Africa Asia and Pacific

Addendum— OPEC -1

Allindus-tries

220,414

20,318

144,181

127,2212,4877,709

17,2501,323

26340,71755,9351,536

16,9613,963

12,058940

26,824

5,634

16,763

4,1902,2021,988

12,5732,0029,685

560326

4,870567

4,303

1,823

4,787

Mining

5,080

935

1,432

1,37D3

257

267375

060

0

(D)

(D)

222

000

222

-4-3

000

0

Petro-leum

29,094

1,432

26,139

25,89D2

45

11,758

24833539

-126

34

889

353

536215334

DO

Manufacturing

Total

71,963

6,108

56,016

45,434527

7,1957,426

21538

13,29316,500

23810,5822,6967,520

366

3,578

1,800

3,643

552596

443,091

4132,258

39030

168

650

84

Foodand

kindredproducts

12,147

355

11,289

8,32D8

37236

4,8902,899

2,961-1

158

144

64

1368

51

(*)0

0

Chemi-cals and

alliedproducts

22,954

268

20,509

17,980362

4,2873,961

30

3,4575,906

42,529

3192,137

73

279

10

1,854

12D8

1,72D6

1,614

-101

35

-3

Pri-maryand

fabri-cated

metals

7,282

2,381

2,712

2,19ol

652161

49378

D2

521232

471

591

894

104

6

0

Machin-ery

11,547

1,621

9,107

6,392-33242

2,035583

1,7322,338

192,7161,741

94133

1,052

12

-341

-5

3

24

928

86

Othermanu-

facturing

18,033

1,482

12,399

10,54338

1,6431,232

13017

2,7224,575

1861,856

4051,401

50

1,618

1,042

1,172

8(*)8

1,163120838207-1

59

260

-1

Whole-sale

33,997

1,496

16,430

14,512228404

4,98515468

2,6215,676

3761,918

845852221

13,687

110

1,890

18011070

1,71058899410128

13D3

250

149

Retailtrade

8,923

1,335

6,453

6,369135201971-2

1,6013,413

832

765

290

570

705614

500

40971

Q

138

4

Banking

12,394

1,366

5,762

5,622122479329354

61,6612,156

516140

67

2,704

62

1,587

1,551

360

22140

572375198

340

332

Finance,except

banking

7,239

448

4,257

3,391

-1,38780

1012,1812,377

866-182

897151

2,087

430

2

428

312-293

184

(*)

Insur-ance

15,345

2,469

11,768

9,9890

1141,553

02,6545,630

1,778151

1,55869

27

929

-4

18

0

000

0

Realestate

22,512

3,320

9,821

9,2249

571,13D3

212,6145,211

5971

456140

2,941

235

4,786

327195132

4,459145

3,91531485

9541

952

456

933

Otherindus-tries

13,868

1,410

6,103

5,41584

491472

(*)29

2,840

68888

55446

1,306

276

1,817

10

841,42D5

44

2

Table 11.— Foreign Direct Investment Position in the United States, 1987[Millions of dollars]

All countries

Canada. ...

Europe

European Communities (12)BelgiumFranceGermanyItalyLuxembourgNetherlands ...United KingdomOther EC

Other EuropeSwedenSwitzerlandOther.. ..

Japan .. .

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermuda..Netherlands AntillesU.K Islands CaribbeanOther . .

Middle EastIsraelOther

Other Africa Asia and Pacific

Addendum— OPEC l

Allindus-tries

261,927

21,732

177,963

157,7102,598

10,19519,637

1,230154

47,04874,941

1,90720,2534,699

14,3431,211

33,361

6,634

15,287

4,2372,2232,014

11,0502,1888,895-275

242

5,050518

4,532

1,900

4,981

Mining

5,619

808

1,614

1,555

270

4343429

060

744

000

?4D4

1

000

-2

0

Petro-leum

35,395

1,433

32,787

32,237

29

055035114356

30

96

687

225

46263

321

0

Manufacturing

Total

91,025

7,478

70,598

58,832669

8,9079,002

24650

16,12023,510

33011,765

3,0168,321

428

5,232

3,115

3,666

441524-83

3,225438

2,31543439

25D°

687

164

Foodand

kindredproducts

16,004

430

13,890

38238147

5,4924,156

33

-2

164

24

17

7

20

0

Chemi-cals and

alliedproducts

30,442

399

27,637

24,732480

4,4574,664

10

6,0459,077

82,905

3782,445

82

534

32

1,718

218

1,500-3

1,40D2

522

116

-2

Pri-maryand

fabri-cated

metals

8,199

2,555

3,453

795255

919

5331,155

17D5

577

569

p4

30

6

0

Machin-ery

15,157

1,876

11,520

8,571-33

1,3691,923

603

1,4983,736

152,9491,9041,011

34

1,521

8

197

8

51

152

13

20

-27

Othermanu-

facturing

21,223

2,218

14,097

12,46949

1,9042,121

16220

2,5515,386

2751,628

5611,024

44

2,436

1,014

1,159

1924-4

1,139306583250

1

1?

254

-1

Whole-sale

37,580

2,393

18,391

15,483264324

4,95518054

2,2056,958

5432,9081,1421,530

236

14,667

158

1,728

213113101

1,51472863712326

75

168

146

Retailtrade

9,546

1,181

7,215

7,194146311

1,017-4

1,8033,87D9

212

136

320

70

664

6062

2604

47764

404

92

4

Banking

13,848

1,388

6,294

6,1479

468355301

62,5001,948

560147

85

3,402

23

1,793

1,73D3

60DO

0

582407175

367

365

Finance,except

banking

7,982

467

5,916

4,62D6

718649

28-29

2,60D9

1,290-1671,352

105

2,643

110

-1,159

4-711

-1,16D3

272-1,820

188

184

9

Insur-ance

15,951

1,606

13,101

10,9530

1241,620

03,1056,061

2,14D8

1,857

1,067

10

000

9

0

Realestate

24,478

3,360

10,709

10,1831357

1,115

173,3055,50D6

5267

389129

4,431

329

4,186

246119127

3,940229

3,313^ 381

17

8651

864

598

833

Otherindus-tries

20,502

1,617

11,339

10,501-10577625

448

7,28D0

83892

66185

2,367

377

1,913

16

901,504

29

-8

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies. dor> Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab1. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecua- Emirates> and Venezuela.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 77: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 75

Table 12.—Foreign Direct Investment in the United States: Capital Inflows, 1986[Millions of dollars; outflows (-)]

All countries

Canada.... ;

Europe . . .

European Communities (12)BelgiumFranceGermanyItalyLuxembourgNetherlands .United KingdomOther EC

Other EuropeSwedenSwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Bermuda . .Netherlands AntillesUK Islands CaribbeanOther

Middle EastIsraelOther

Other Africa, Asia, and Pacific

Addendum— OPEC l

Allindus-tries

34,091

2,547

21,730

19,095597

1,0171,982

11445

4,37410,827

2282,6351,3951,414-174

7,268

2,719

-332

82657

7691 157

19-750-554

127

-6849

-117

228

294

Mining

962

-17

194

183(D)

«3846

1340

11(D)(D)(D)

(D)

(D)

(*)

000

(*)(D)22(*)(D)

000

(D)0

Petro-leum

662

137

272

399(D)(D)

(D)

'8(D)

511(D)

12830(D)(D)

-65

(D)

362

325(D)(D)377422(D)(D)

(D)(D)(D)

(D)

(D)

Manufacturing

Total

11,865

1,239

9,351

7,414119

1,4871,073

1436

1034,659

421,9371,429

544-36

938

1,180

-1,409

-112-94-18

1 297'487

1 11829611

56(D)(D)

509

64

Foodand

kindredproducts

1,337

130

1,036

797(D)245

(D)(D)(D)

166(D)

239

8(D)-1

137

9

2117

(D)(D)(D)

0

(D)(D)(D)

(D)

(D)

Chemi-cals and

alliedproducts

4,106

123

3,934

3,829(D)

1,315278(D)0

-1182,198

4105(D)

-39(D)

16

17

29

-45(D)(°)16(D)

-21(D)(D)

(*)0

(*)

46

(*)

Pri-maryand

fabri-cated

metals

448

309

80

37(D)27

-41(D)(D)(D)18(D)4325(D)(D)

-6

3

130

(D)(D)(D)(D)(D)(D)(D)6

(D)(D)(D)

(D)

(D)

Machin-ery

1,695

412

2,091

849-51

1765145(*)

183371(*)

1,2411,080

194-33

326

4

1,347

(D)

(D)(D)-1(D)2

(D)

1(*)1

209

(D)

Othermanu-

facturing

4,278

264

2,211

1,9021

104181832

-4021,906

28309172149

-12

603

1,021

87

21

-389(D)

354(D)2

-2(D)(D)

95

1

Whole-sale

4,679

-115

2,688

2,54212

-42546-37-22467

1,58556

14725

159-37

1,775

-55

142

2634-8116(D)-4

-114(D)

44(D)(D)

200

12

Retailtrade

1,759

613

1,193

1,202156294(D)(D)

426605

<°!(*)

Is38

(D)

-166

-3-1-3

-163(D)

-20140(D)

(D)0

(D)

-20

(D)

Banking

1,757

143

771

793(D)10

11050(D)58

430109

-22(D)

(D)11

544

-4

299

360(D)(D)61(*)

-60-1C)

322110

27

-13

Finance,except

banking

1,896

-140

838

699(D)

-627(D)(D)

7537604(D)

139-136

23838

1,926

(D)

-569

-1(D)(D)

568(D)

-147-554

(D)

7D)(D)

(D)

-2

Insur-ance

3,702

49

3,439

3,124(D)

18-133

(D)0

1,6081,628

(D)316(D)

279(D)

(D)

(D)

183

(D)(D)-8(D)(D)-6(D)0

000

(D)0

Realestate

3,099

550

802

787(*)3434(D)-3257474(D)151

103

1,315

113

72

-26-32

698

100132

-17137

2480

248

-1

240

Otherindus-tries

3,710

362

2,181

1,95210710621-1

3(D)

1,220(D)

22930

203-5

658

185

755

(D)-7(°)(D)

-14698(D)25

(D)5

(D)

(D)

(D)

Table 13.—Foreign Direct Investment in the United States: Capital Inflows, 1987[Millions of dollars; outflows (-)]

All countries

Canada

Europe

European Communities (12)BelgiumFranceGermanyItalyLuxembourgNetherlandsUnited KingdomOther EC

Other EuropeSwedenSwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands Antilles .U.K. Islands, CaribbeanOther ..

Middle EastIsrael.. . .Other

Other Africa, Asia, and Pacific

Addendum— OPEC 1

Allindus-tries

41,977

959

34,974

31,35288

2,5512,403-364-1287,871

18,562369

3,622744

2,582296

6,181

996

-1,453

-29345

142340

-482-880-102

193-57250

128

212

Mining

484

-136

138

137(D)(D)13(D)(D)76530

(*)(D)(D)(D)

(D)

(D)

522

000

522(D)5

(D)(D)

000

(*)0

Petro-leum

6,410

-26

6,801

6,499(D)(D)

-16(D)(D)(D)(D)(D)

30317

104182

64

(D)

-196

-129(D)(D)67

-148-9(D)(D)

(D)0

(D)

(D)

(D)

Manufacturing

Total

20,443

988

16,449

15,027147

1,6911,623-312

4,3557,108

951,423

3301,021

72

1,639

1,293

-58

110813052

-147168237

86(D)(D)

47

80

Foodand

kindredproducts

3,832

45

2,662

(D)

(°)102

(D)(D)

6381,297

(D)(D)

8(D)

6

(D)

-97

4(D)(D)

100(D)(D)

20

(D)(D)0

(D)

(D)

Chemi-cals and

alliedproducts

8,567

131

8,209

7,839119170703

(*)0

3,6433,200

437058

29319

252

22

-134

90(D)(D)

-224(D)

-210(D)(D)

624

81

1

Pri-maryand

fabri-cated

metals

959

170

740

(D)(D)

14394(D)(D)41

361(D)(D)47(D)(D)

106

(D)

279

(D)(D)1

(D)(D)

-74(D)(*)

(D)0

(D)

(D)

(D)

Machin-ery

3,594

106

2,578

2,320

1,128108

11

-1231,416

_ i258163951

457

-4

517

(D)-4(D)(D)(D)(D)6

(D)

615

-66

(D)

Othermanu-

facturing

3,491

536

2,260

2,26211

240930

24

15683490-2156

-1526

818

-51

66

1115

-4-77

24-145

431

-11(D)(D)

4

(*)

Whole-sale

3,549

890

2,020

97939-2

-63189

-3541,183

1671,042

29669055

931

47

175

26-531

-201135

-357232

-58(D)(D)

-108

-3

Retailtrade

539

154

576

63323

11353-2(D)

198256(D)

-57(*)

-636

26

(D)

79

-276

-33106(D)69

g(D)

(D)0

(D)15

(*)

Banking

858

21

324

316-113-11

31278

(*)853

-206407

(D)(D)16

378

-39

136

168(D)(D)

-310

(D)(D)0

729

-22

30

30

Finance,except

banking

730

9

1,608

1,184(D)

672569(D)

130382(D)(D)

42415

455-46

589

(D)

-1,566

1(D)(D)

-1,567(D)

-41-1,527

(D)

(*)(D)(D)

(D)

9

Insur-ance

569

-863

1,303

9460

1177(D)0

429426(D)

357(D)

299(D)

(D)

(D)

129

(D)(D)(D)(D)(D)

80

000

(D)0

Realestate

1,714

22

490

5804

(*)-18

(D)-4649

-44(D)

-896

-6729

1,490

50

-413

-112107-5

-30184

-34644

-83

-720

72

147

-80

Otherindus-tries

6,682

207

5,264

5,053-93

87134

17

(D)4,404

(D)212

317038

1,060

128

89

(D)9

(D)(D)1067(D)

-14

(D)-10

(D)

(D)

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, tables 10 and 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 78: SCB_081988

76 SURVEY OF CURRENT BUSINESS August 1988

Table 14.—Foreign Direct Investment in the United States: Equity Capital Inflows, 1986[Millions of dollars; outflows (-)]

AH countries

Canada

Europe

European Communities (12)BelgiumFrance .GermanyItaly .LuxembourgNetherlandsUnited KingdomOther EC

Other EuropeSwedenSwitzerland ...Other

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands AntillesU.K Islands CaribbeanOther .. .

Middle EastIsraelOther

Other Africa, Asia, and Pacific . . . .

Addendum— OPEC 1

Allindus-tries

25,086

1,803

15,468

13,659306

1,6842,959

4994

2,9135,088

2061,8091,053

552204

3,837

1,357

1,936

62077

5431,316

(D)

1,572134(D)

35037

313

335

489

Mining

555

(D)

115

1155

(D)200

(*)(D)

00000

(D)(D)0

00000000

000

0

0

Petro-leum

1,226

(D)

975

754(D)(D)30

3000

26311

0221

(D)0

(D)

19

(D)

(D)

(D)0

(D)-6

2-8

00

000

(D)(D)

Manufacturing

Total

9,488

271

7,373

6,131(D)

1,4562,339

1840

2891,713

(D)1,242

899341

3

883

487

132

000

132(D)(D)

1500

(D)31(D)

(D)

(D)

Foodand

kindredproducts

251

11

62

6200

(D)30

-27(D)(D)0000

4

(D)

(D)

000(D)02

(D)0

000

39

0

Chemi-cals and

alliedproducts

3,019

(D)

2,953

2,798(D)(D)

93600

(D)(D)

0154

(D)

(D)0

37

(D)

(D)

000(D)0

(D)00

000

0

0

Pri-maryand

fabri-cated

metals

532

143

172

5001

(D)(D)02

120

122(D)(")0

25

40

(D)

000

(D)7°)(D)

0

(D)

0(D)(D)(D)

Machin-ery

3,513

37

2,502

1,6830

(D)1,206

(D)0

(D)270

0819

(D)(D)0

331

2

(D)

000

(D)0

(D)00

(*)0

(*)(D)(*)

Othermanu-

facturing

2,173

(D)

1,686

1,5380

118170(D)

0(D)

1,0980

1481

1443

486

(D)

-370

000

-370(D)0

(D)0

3131

0

(D)

0

Whole-sale

1,914

209

1,285

1,1960

(D)83(D)

018870111089(D)(D)0

240

(D)

61

(D)2

(D)(D)36(D)0

(*)

(D)0

(D)

10

76

Retailtrade

1,056

(D)

287

287

A000

(D)(D)00000

71

(D)

(D)

000

(D)

0(D)

450

000

(D)0

Banking

1,122

98

366

347(D)14

15792

(D)

766819(D)8

(D)

316

3

303

(D)(D)

292(D)0

(D)00

314

27

4

12

Finance,except

banking

2,687

-39

1,302

1,2524

(D)(D)00

(D)171

050-5(D)(D)

1,357

(D)

(D)

000

(D)(D)(*)(D)0

110

(*)0

Insur-ance

1,227

56

1,089

1,0790

(*)(D)00

(D)341

010(D)(D)

0

(D)

(D)

59

5959000000

000

0

0

Realestate

3,028

503

1,324

1,293(D)(D)9200

208975

0313

253

725

80

213

20(D)(D)

193(D)

216-49

(D)

1550

155

27

155

Otherindus-tries

2,784

197

1,350

1,20527

128(D)(D)1

472547

(D)

146(D)(D)5

140

(D)

875

46-450

830(D)

851(D)0

(D)

0(D)

8

(D)

Table 15.—Foreign Direct Investment in the United States: Equity Capital Inflows, 1987[Millions of dollars; outflows (-)]

All countries

Canada

Europe

European Communities (12)Belgium .FranceGermanyItalyLuxembourgNetherlandsUnited KingdomOther EC. . .

Other EuropeSwedenSwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands AntillesU.K. Islands, CaribbeanOther . . . .

Middle East ....Israel . . . .Other

Other Africa, Asia, and Pacific

Addendum— OPEC l

Allindus-tries

25,477

635

16,280

15,01947

1,8411,985-234

123,5217,739

1081,261

1421,049

70

4,340

1,575

1,853

1427864

1,711-26

1,100642-5

6205

615

175

655

Mining

270

(D)

-11

-1200

(D)00

(D)(D)01100

0

(D)(D)000

(D)00

(D)0

000

0

0

Petro-leum

447

7

20

-2401000

-32704040

91

21

(D)

000

(D)0

(D)(D)0

(D)0(D)0

(D)

Manufacturing

Total

13,210

708

9,176

8,529(D)

1,5941,283

469

2,2483,343

(D)647(D)

567(D)

993

1,391

830

(D)(D)0

(D)(D)(D)(D)(D)

(D)0

(D)(D)(D)

Foodand

kindredproducts

1,803

(D)

611

(D)00

18(D)(D)(D)(D)

0(D)0

(D)6

0

(D)

(D)

000

(D)(D)000

000

(D)0

Chemi-cals and

alliedproducts

4,820

(D)

4,705

4,552(D)

907222

00

(D)1,502

0152

0(D)(D)

35

(D)

0

00000000

000

0

0

Pri-maryand

fabri-catedmetals

930

(D)

324

(D)0

25200

(D)

7D)0

(D)(D)(D)0

101

(D)8

1107

(D)00

(D)

(D)0

(D)0

(D)

Machin-ery

3,051

30

1,930

1,8880

592212

(D)0

(D)1,013

0435

380

164

0

(D)

440

(D)

0(D)00

202

(D)

2

Othermanu-

facturing

2,606

159

1,606

1,584(D)71

811(*)0

67615

(D)235

171

693

121

7

(D)(D)0

(D)(D)-1(D)

0

00

20

0

Whole-sale

224

326

-450

-50702

410

-1-761

2056

58(D)(D)

0

318

(D)

-3

-4-5(*)

0-2

30

000

(D)0

Retailtrade

344

60

234

(D)0

(D)

~00

(D)242

5(D)0

(D)0

23

0

27

(D)0

(D)

(D)(°)(D)(°)0

000

0

0

Banking

1,869

135

1,220

1,185(D)3366(D)(D)

1,17112426350

(D)(D)

298

-27

131

127(D)(D)40220

245

19

87

62

Finance,except

banking

2,044

1

1,084

(D)0

(D)(D)00

(D)135

0(D)0

(D)2

870

(D)

39

(D)2

(D)(D)

(D)300

000

(D)0

Insur-ance

-388

-637

246

7900

(D)00

(D)(D)0

167(D)(D)0

0

4

0

00000000

000

0

0

Realestate

2,075

247

763

75040

2921

369345

013049

960

(D)

88

-1-1

089

' (D)2357(D)

909

(D)

9

Otherindus-tries

5,383

(D)

4,039

3,7920

4059(D)(D)

4203,210

(D)247

0(D)(D)

787

98

184

18(D)(D)

166-6157

311

(D)

0(D)

-1

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, tables 10 and 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 79: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 77

Table 16.—Foreign Direct Investment in the United States: Reinvested Earnings, 1986[Millions of dollars]

AH countries .

Canada

Europe....

European Communities (12)Belgium. . . .France . .GermanyItalyLuxembourgNetherlandsUnited KingdomOther EC

Other Europe.SwedenSwitzerlandOther

Japan . . .

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermuda ^Netherlands AntillesU.K. Islands, Caribbean .Other

Middle EastIsrael ...Other . . .

Other Africa, Asia, and Pacific

Addendum — OPEC l

\

Allindus-tries

-2,293

-675

711

588-169-111-382-61-8779554-13123106239

-222

110

-30

1,920

1549460

-2,075147

-2,149-96

23

-4154

-419

-74

374

Mining

-170

-55

-133

-135(*)"-5

52

-1-51-85

03120

-1

(D)

(D)

000

(D)(D)~n(*)

000

(*)0

Petro-leum

-1,114

-310

-779

-595(D)

-8-38-2625

-1,0457

-183(D)(*)(D)

-10

(D)

14

(D)

(D)(D)

(D)

-35(D)8

(D)0

(D)

(D)

(D)

Manufacturing

Total

-1,897

371

-114

-75-31

53-580-68-7126422

10-39

44-94

11

259

16

-1,877

-64-46-18

-1,814

-1,778-33

3

-4(D)(D)

29

(D)

Foodand

kindredproducts

465

26

457

(D)3

3(')-2325721

(D)(D)(D)(D)

—8

(*)

-5

211

-6-3-2-1

0

(*)C)

0

6

1

Chemi-cals and

alliedproducts

-38

31

-86

-74-40-17

-17000

-31184(*)

-1213

-3610

-14

(*)

37

(D)(D)

0(D)(D)(D)(D)3

(*)0

(*)

-5

(*)

Pri-maryand

fabri-cated

metals

-201

22

-46

863

54-10-14-7

756-3

-132(D)(D)(*)

70

-31

(D)

(D)(D)

-10-33

(D)-6(D)0

(D)0

(D)-6

(D)

Machin-ery

-2,470

127

-654

-657(*)

-24321-22

(*)-167-123

13

26-12-11

-70

(*)

(D)

-13-3

9(D)(*)(D)2

(*)

(*)(*)(*)

(D)

(*)

Othermanu-

facturing

347

164

214

(D)3

(D)

-77-32

2-723311(D)60

-13(D)

-97

46

47

110

46-10

56(*)(*)

(D)(D)0

(D)

0

Whole-sale

394

-586

455

36118

-62305

83

8796

-95943766-9

493

-8

32

74

112519312

312

6

2

Retailtrade

193

45

235

23815(D)

116-2

S(D)

24

(*)

-8

-17

2

5

22

(*)256

-12

000

14

0

Banking

350

32

260

298(D)

5-47

40(D)

14716442

-387

-39— 7

98

-7

4

(D)(D)25(D)<*)(D)

0

11717

-29

25

Finance,except

banking

91

39

64

-64-7

-31130

32

-109207

2128(D)

142(D)

-57

1

41

-1-2

142-1(D)(D)(D)

55

(*)

-2

(*)

Insur-ance

1,301

23

1,145

9600

154750

187708-2184

17150

17

11

(D)

(D)

(D)(D)(D)-3

2(*)-4

0

000

10

Realestate

-669

-67

-282

' -261(*)-2

-40—7-3

-134-75

(*)20-2-4

-14

108

(D)

-225

-33294

-192(D)

-220-68

(D)

210

21

(D)

13

Otherindus-tries

-772

-76

-140

-139-552

-36

7D>-126

(D)221

-613-8

39

-4

-59

629

651

-7141

(D)

(°)

(°)

(D)

(D)

Table 17,—Foreign Direct Investment in the United States: Reinvested Earnings, 1987[Millions of dollars]

All countries

Canada

Europe .

European Communities (12)BelgiumFranceGermanyItalyLuxembourgNetherlandsUnited Kingdom ...Other EC

Other EuropeSwedenSwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America . . . .

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands AntillesUK Islands CaribbeanOther

Middle EastIsrael . . ..Other .

Other Africa Asia and Pacific

Addendum — OPEC l

Allindus-tries

2,537

-95

3,426

2,607142

-107-274-60

7831

1,893175819338501-20

153

28

-606

16-34

50-622

229-762

12131

-28225

-307

86

-245

Mining

59

33

1

-33

-6622

-12604

-140

5

(D)

(D)

000

(D)(D),<•)••(*)

2

000

(*)

0

Petro-leum

1,378

-57

1,406

1,400(D)-5

-1213

7D)335

(D)6

151

-8

-4

-8

29

(D)(D)

(D)(D)

(D)11(D)

(D)

(D)0

(D)

(D)

(°)

Manufacturing

Total

2,146

183

2,149

1,6621295226

-473

2111,209

7848718825445

145

17

378

-203-181-21

-17555

-251165

29(D)(D)

2

(D)

Foodand

kindredproducts

475

29

475

3893

(*)-4-3-3328712

86(D)

74(D)

3

(D)

-14

211

-16-10

2-4

0

(*)(*)0

(D)

1

Chemi-cals and

alliedproducts

1,181

22

1,111

902119

-181199

00

185578

220821

16324

39

(D)

(D)

(D)(D)0

-130

-18(*)

5

(*)0

(*)

1

(*)

Pri-maryand

fabri-cated

metals

101

-40

253

2306

(D)22-5

13955(D)23-31313

18

50

-170

(D)(D)(D)(D)9

(D)7

(*)

(D)0

(D)

(D)

(D)

Machin-ery

-510

-75

-186

2841

-20-316-27

1-78155

199

108(*)

44

-3

(D)

-27(D)

(D)

(D)(*)(D)-5(*)

515

(D)

(*)

Othermanu-

facturing

899

247

495

4255

(D)126-11

4-262

348(D)70(D)3

(D)

77

-29

102

-16-16

0117574317(*•)

(D)(D)0

(D)

0

Whole-sale

1,450

631

181

8116

-351-2

997

23880

1007527-3

528

2

107

25

-31051124334

2

7(D)

(D)

-6

7

Retailtrade

-124

-323

189

234(D)

452-2(*)21

150(D)

-45(*)

-505

7

8

-12

77

(*)-18

2-22

(*)2

000

20

0

Banking

1,216

-114

-813

-756(D)

-43-34

52

(D)-284

14-57

3-34-26

-213

-12

6

41-142

—350

-34-1

0

1328

-40

-57

-32

Finance,except

banking

-37

16

94

-60(*)QA

921

2021-2155(D)

164(D)

-57

6

-107

-1—2<*)

-106(*)-6

-1099

10(D)(D)

-1

(*)

Insur-ance

575

-264

703

4980

118950

33362i204

(D)145(D)

8

(D)

(D)

(D)(D)(D)23

(*)-1

0

000

(D)0

Realestate

1,186

-185

-435

-402-1-3

-3494

-166184(#\

-33-2

824

-199

2

-335

-18-12-6

32-307-44

2

-110

-11

-24

-19

Otherindus-tries

-507

-16

-48

-48-11

168

(*)3

-654010j5

-1-5

-51

(D)

-84

121

11-96

9-109

(D)(D)

(D)-3(D)

-21

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, tables 10 and 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 80: SCB_081988

78 SURVEY OF CURRENT BUSINESS August 1988

Table 18.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1986[Millions of dollars; outflows (-)]

All countries

Canada

Europe ..

European Communities (12) . . . .BelgiumFranceGermany . .ItalyLuxembourg . .NetherlandsUnited KingdomOther EC

Other Europe.....SwedenSwitzerlandOther ... .

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther .

Other Western HemisphereBermudaNetherlands AntillesU.K. Islands, CaribbeanOther

Middle EastIsrael...Other ... .

Other Africa, Asia and Pacific

Addendum— OPEC l

Allindus-tries

11,298

1,419

5,551

4,847460

-555-595-324-40682

5,18535

703236624

-157

3,321

1,392

-347

51-115

166399

(D)172592(D)

-29

-11

-34

180

Mining

577

(D)

211

203(D)

-251

(D)(D)97(D)09

(D)(D)(D)

40

229

(D)

000

(D)0

210

(D)000

(D)0

Petro-leum

550

(D)

75

241366

1(D)(D)(D)(D)

223(D)

165(D)(D)

-150

-74

529

(D)

89(D)(D)(D)(D)210

(D)

1(D)(D)

286

179

Manufacturing

Total

4,274

597

2,092

1,358(D)

-22-685

271

5182,523

(D)734486297

-49

315

677

336

-48-48

(*)385(D)(D)

1798

(D)-11

(D)

(D)

7

Foodand

kindredproducts

621

94

517

(D)(D)(D)(D)(D)(D)(D)(D)-3(D)(*)(D)-1

3

(D)

(D)

11

(*)(D)(D)(D)00

(D)(D)(D)

(D)

(D)

Chemi-cals and

alliedproducts

1,125

(D)

1,067

1,10574(D)

-488(D)0

(D)(D)

-3840(D)(D)

7

(D)

(D)

(D)(D)(D)28(D)70

(D)

000

51

(*)

Pri-maryand

fabri-cated

metals

117

144

-47

-100(D)

-28(D)13(D)(D)

-49(D)53(D)

2(D)

40

-6

-87

7D)(D)807

-129366

(*)(D)(D)

72

1

Machin-ery

653

247

243

-177-51

(D)-235

(D)0

(D)224-1420

(D)(D)

-21

66

1

21

(D)

8(D)(*)140

(D)

(*)0

(*)74

(D)

Othermanu-

facturing

1,758

(D)

311

(D)-3(D)87(D)

0(D)

57417(D)

11018(D)

214

(D)

410

3(*)3

413-30298143

2

(D)11(D)

78

1

Whole-sale

2,371

262

949

985-30

(D)157(D)25

19278841

-36(D)(D)28

1,041

(D)

49

(D)36(D)(D)(D)(D)

-115(D)

(D)(D)72

185

-66

Retailtrade

510

(D)

671

6760

21821(D)(D)(D)

337(D)-5(*)

41

16

24

(D)

633

(D)(D)(D)-4(D)

(D)0

(D)

(D)

(D)

Banking

285

13

144

14754-9

00

(D)(D)

190-1-3

-10(D)(D)

130

0

(*)

0(D)(D)(*)000

(*)000

2

0

Finance,except

banking

881

-141

-528

-489(D)(D)

-67(D)5

(D)227(D)

-39(D)(D)52

626

1

(D)

(*)(D)(0)(D)38(D)(D)40

-8(D)(D)

(D)

-2

Insur-ance

1,174

30

1,206

1,084(D)3

(D)(D)0

(D)578

(D)122

2(D)(D)

4

0

(D)

(*)(D)(D)(D)(D)

7°)0

000

(D)0

Realestate

741

114

241

-244(D)

(D)-18

(D)(*)

183426

(D)3

(*)-10

14

699

(D)

84

-13(D)(D)97

41375419

720

72

(D)

72

Otherindus-tries

1,697

241

971

8878530(D)(D)(D)(D)(D)(*)84(D)(D)-2

557

(D)

62

(D)(*)(D)(D)(D)827

24

(D)

(D)-25

22

- (D)

Table 19.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1987[Millions of dollars; outflows (-)]

All countries

Canada

Europe

European Communities (12) .Belgium .FranceGermanyItalyLuxembourgNetherlandsUnited KingdomOther EC

Other Europe.. ..SwedenSwitzerland . . . . .Other

Jaoan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands AntillesUK Islands CaribbeanOther

Middle EastIsraelOther

Other Africa, Asia, and Pacific

Addendum— OPEC l

Allindus-tries

13,962

419

15,268

13,727-101

817691

-70-1473,5198,930

871,541

2641,032

245

1,687

-607

2 699

18778

109-2,512

-163-820

-1,401-128

-14587

-58

39

198

Mining

155

(D)

148

152(D)(D)(D)(D)(D)(D)(D)0

-4(D)(D)(D)

- (D)

-58

5

000506

(D)(D)

000

(*)0

Petro-leum

4,585

24

5,416

5,123(*)(D)

—4(D)(D)

-137(D)0

2931

101190

23

(D)

(D)

(D)(D)

-127127(D)(D)-310

(*)0

(*)

21

124

Manufacturing

Total

5,088

97

5,125

4,836(D)45

313-2

01,8952,557

(D)289

(D)201(D)

501

-115

511

(D)(D)-8(D)(D)(D)(D)(D)

(D)2

(°)

(D)

__7

Foodand

kindredproducts

1,555

(D)

1,577

1,202(D)10

-12-1

0(D)(D)(D)

375(D)

376(D)

3

-1

(D)

2(D)(D)(D)1

(D)60

(°)(D)

0

15

(D)

Chemi-cals and

alliedproducts

2,566

(D)

2,393

N 2,384(D)

-555282

(*)0

(D)1,119

29

37(D)(D)

178

-7

(D)

(D)64(D)

-211(D)

-192(D)(D)

624

82

2

Pri-maryand

fabri-cated

metals

73

(D)

163

280(D)(D)53(D)

03

(D)2

-117(D)(D)(D)

23

36

-117

5(D)(D)

122__y(D)(D)(D)

(D)0

(D)

16

(*)

Machin-ery

1,053

151

833

7165

556

(D)0

(D)247-2117505610

249

-1

-85

(D)(D)14(D)(D)

-3011(D)

-10

-1

93

(D)

Othermanu-

facturing

-14

131

159

253(D)(D)

80

351-129

495(D)

-171(D)

49

-143

-175

(D)(D)-4(D)(D)

-187(D)1

(D)(D)(D)

(D)

(*)

Whole-sale

1,876

-67

2,289

1,405232

24619

-1731174081

884(D)(D)57

86

(D)

279

29-533

-30824

-313-14

4

65673

(D)

-10

Retailtrade

319

109

153

(D)(D)(D)

20

(D)(D)

-136(*)(D)

810

(D)

64

(D)(*)(D)(D)

0(D)(D)(D)

(D)0

(D)-5

(*)

Banking

206

0

-83

-113-65

00

(D)(D)(D)47

030(D)0

(D)

293

0

0

00000

(D)(D)0

-4-4

0

0

0

Finance,except

banking

-1,276

7

430

(D)(D)(D)(D)(D)

-131(D)(D)(D)(D)(D)(D)(D)

-225

50

-1,497

(D)(D)(D)(D)-2

-38-1,418

(D)

10111

-17

9

Insur-ance

382

38

355

3690

(*)(D)(D)

0(D)(D)(D)

-14-17

(D)(D)

(D)

4

(D)

(*)(*)

0(D)(D)(D)(D)0

000

-10

Realestate

824

-41

163

23203

13(D)(*)

447-205

(D)-69

8-63-14

729

(D)

166

-93-93

1^73

(D)

32(D)

-710

71

(D)

-71

Otherindus-tries

1,805

(D)

1,274

1,308-82

6383(D)(D)(D)

1,154(*)34-2(D)(D)

324

(D)

-11

(D)(D)

-10(D)

6192

(D)

(*)

6

(D)

5

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, tables 10 and 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 81: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 79

Table 20.—Foreign Direct Investment in the United States: Income, 1986[Millions of dollars]

All countries.

Canada

Europe

European Communities (12)BelgiumFranceGermanyItalyLuxembourgNetherlandsUnited Kingdom .Other EC

Other EuropeSweden . .SwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America

South and Central AmericaPanamaOther

Other Western HemisphereBermudaNetherlands AntillesU.K Islands, CaribbeanOther .

Middle EastIsraelOther

Other Africa Asia and Pacific

Addendum— OPEC *

Allindus-tries

5,379

390

5,701

4,878-23

54-23

183

2,1792,611

59823164864

-205

1,009

28

1 395

241128113

1636193

-1,742-122

35

-3891

-390

34

-329

Mining

-140

49

-108

-1111

-282

-1338403220

(*)

(D)

(D)

000

(D)(D)(*)(*)(*)000

(*)0

Petro-leum

302

-236

498

678(D)(D)

-1315-269235

7-181

(D)

(D)

-9

(D)

40

(D)

(D)(D)(D)

-15(D)8

(D)0

(D)

(D)

(D)

Manufacturing

Total

75

495

1,522

1,183-25200

-522646

85470739

33889

23515

-215

30

1 729

5429

-24-1,675

22-1,654

-463

T°4)(°)24

(D)

Foodand

kindredproducts

797

31

774

(D)6

(D)-1(*)-2390169

1(D)(D)(D)(D)

-3

1

(*)

21121210

(*)(*)

0

g

1

Chemi-cals and

alliedproducts

518

32

388

337-37

2-87

00

229230(')51152611

-13

1

115

(D)(°)(*)(D)(°)(D)(°)3

(*)0

(*)

5

(*)

Pri-maryand

fabri-cated

metals

31

25

131

2533

135-9

-13-659883

-122(D)(D)(*)

-68

-19

(D)

(D)(D)9

10(D)11(D)

0

(D)0

(D)g

(D)

Machin-ery

-2,257

189

512

-592-1

-22-363-21

(*)-95

901

805832

-10

-55

(*)

(D)

193

16(D)(*).(D)

2(*)

(*).(*)(*)

(D)

-4

Othermanu-

facturing

987

218

740

(D)4

(D)-61-29

2271311

40(D)6468(D)

-76

48

80

110

791972

-12(*)

(D)(D)0

(D)

0

Whole-sale

1,491

-204

1,000

82520

-40468

123

172255-6617666

118-8

616

-8

108

74

11101267212

-5-6

1

-16

1

Retailtrade

818

35

767

76618(D)

126-2<•)

121(D)

21

(*)8

-7

-16

2

20

22

(*)185

22j2

000

80

0

Banking

1,448

253

509

458(D)43

-1457(D)

17819453507

496

616

—2

58

(D)(D)80(D)

80

621

-15

9

-3

Finance,except

banking

74

56

23

-104-7109

-1583

1228

1262

126(D)

159(D)

-55

1

48

_]_-1(*)492

(D)(D)(D)

881

-6

-2

Insur-ance

1,698

172

1,387

1,1430

18137

50

226759-2244

19208

17

11

(D)

(D)(D)

(D)(D)-1

2140

000

10

Realestate

73

-3

70

67(*)-3

-276

-31790(*)3

-29

-4

j

(D)

-55

-24-22-2

-31(D)

-84-58

(D)

480

48

(D)

40

Otherindus-tries

-461

-58

33

-29-5

-47-27-4(D)

-75(D)2462-170-7

62

-3

-45

8-210

-522

-6161

(D)

(D)(D)

(D)

(D)

Table 21.—Foreign Direct Investment in the United States: Income, 1987[Millions of dollars]

AH countries

Canada

Europe

European Communities (12)BelgiumFranceGermanyItalyLuxembourg...,NetherlandsUnited KingdomOther EC

Other EuropeSwedenSwitzerlandOther

Japan

Australia, New Zealand, and South Africa

Latin America .

South and Central AmericaPanamaOther

Other Western HemisphereBernludaNetherlands AntillesU.K. Islands, CaribbeanOther

Middle EastIsraelOther

Other Africa, Asia, and Pacific

Addendum— OPEC 1

Allindus-tries

10,504

896

8,717

7,11122725

-86-20

102,3824,355

2181,606

4011,197

8

1,178

28

-52

57-14

71-109

25327712741

-26114

-276

1

-211

Mining

150

45

91

864

-6922

205906140

7

(D)

(D)

000

(D)(D)(*)(*)2

000

(*)0

Petro-leum

2,456

10

2,400

2,391(D)-5-3

51

(D)1,203

(D)9

16-1-7

-3

-8

46

(D)(D)(D)(D)(D)22(D)(D)

(D)0

(D)

(D)

(D)

Manufacturing

Total

4,515

252

4,125

3,25713817076

-453

1,0671,758

8986824357847

202

26

133

-202-177-25

696523225

29(D)(D)

14

(D)

Foodand

kindredproducts

878

30

867

6253

10-3

33

387232

2242(D)

230(D)

6

(D)

10

211

-12-7-2-3

0

(*)(*)

0

(D)

1

Chemi-cals and

alliedproducts

1,964

23

1,752

1,516125

-184277

00

452844

223625

18922

43

(D)

(D)

(D)(D)

0118(*)

113(')5

(*)0

(*)

5

(*)

Pri-maryand

fabri-cated

metals

259

32

383

345

(D)13-4

16667(D)389

1614

-14

51

157

(D)(D)(D)(D)15(D)

7(*)

(D)0

(D)

(D)

(D)

Machin-ery

-330

-73

-25

-238-1

-21-356-27

1-27192

121314577-9

58

(*)

(D)

-30(D)

(D)(°)(*)(°)5

(*)

515

(D)

-1

Othermanu-

facturing

1,744

304

1,148

1,0086

(D)145-11

4189423

(D)139(D)67(D)

108

-25

198

-15-15

021357

13422(*)

(D)(D)0

(D)

0

Whole-sale

2,093

662

711

4641811

-25019

18239698

247107140(*)

601

3

166

(*)2

-316611613343

-10(D)(D)

40

6

Retailtrade

568

245

746

723(D)2166-2(*)

121503(D)23(*)175

-6

9

-10

77

(*)-17

221(*)

2

000

75

0

Banking

74

141

-515

556(D)-6-620-2(D)

-22725417

58-23

447

-10

28

637

56-35

034(*)

0

-532

-37

-11

29

Finance,except

banking

57

23

159

8(*)

-158-53

24

14768-2151(D)

186(D)

-25

5

112

-1-1(*)

-111

813010

14(D)(D)

-8

(*)

Insur-ance

916

-115

888

6250

129450

89426

I264(D)

204(D)

8

(D)

(D)

(D)(D)(D)331

-10

000

(D)

0

Realestate

81

63

26

39-1-4

-19-8

41163(*)

-12-2

2-12

32

4

-147

-127

-5-136

39-147^-36

9

180

18

-14

10

Otherindus-tries

245

60

85

74-11

11(*)(*)3

26106131168

-4

-21

(D)

-63

171

16-80

10-96

(D)(D)

(D)

5(D)

-19

(D)

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, tables 10 and 11.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 82: SCB_081988

80 SURVEY OF CURRENT BUSINESS August 1988

Table 22.—Foreign Direct Investment in the United States: Country Detail for Selected Items[Millions of dollars]

Line

1

2

3

456789

101112131415

161718192021222324252627282930313233343536

37

38394041

42

434445464748495051525354555657585960616263

64656667686970717273747576

7778798081828384858687888990

All countries....

Canada

Europe

European Communities (10) .BelgiumFranceGermanyItalyLuxembourgNetherlandsUnited KingdomDenmark, Greece, and Ireland

Denmark . .Greece ..Ireland

Other EuropeSwedenSwitzerlandOther.

AndorraAustriaCyprus .CzechoslovakiaFinlandGibraltarHungaryIcelandLiechtensteinMaltaNorwayPolandPortugalSpainTurkeyUnion of Soviet Socialist RepublicsYugoslavia

Japan

Australia, New Zealand, and South AfricaAustraliaNew ZealandSouth Africa

Latin America ....

South and Central AmericaPanamaOther

ArgentinaBelize ..BoliviaBrazilChileColombia ,Costa RicaEcuadorEl SalvadorGuatemalaHondurasMexicoNicaraguaParaguayPeruSurinamUruguayVenezuela ,

Other Western HemisphereBermuda ....Netherlands AntillesUnited Kingdom Islands — CaribbeanOther

Bahamas . . . .BarbadosDominican RepublicFrench Islands — CaribbeanHaitiJamaicaSt. Christopher and Nevis. .Trinidad and Tobago

Middle EastIsraelOther . .

BahrainIranIraq .. .JordanKuwaitLebanonNeutral ZoneOmanQatar ,Saudi ArabiaUnited Arab Emirates

Direct investment position

1983

137,061

11,434

92,936

82,2862,2615,726

10,8451,238

29729,18232,152

58430857

219

10,6502,1247,4641,061

1210(*)0

6736

(D)129

0311(°)14

194(*)1341

11,336

99993098

-28

15,035

2,7472,073

674194(D)0

843

63(')32<")26

244(*)

2323

24

12,2891,1689,948

985188175(D)C)(*)1

(*)(D)

(*)

4,446449

3,997(D)181

-23,606

50

(D)3

35311

1984

164,583

15,286

108,211

96,5552,5486,591

12,3301,438

75333,72838,387

77940490

285

11,6552,2588,1461,251

1243

CO

16439

(D)170(*)

31127-4231

11343

16,044

2,1522,125

52-25

16,201

2,8591,924

935237(*)-2160

~69(*)35(D)

76

308(*)-2

30

(D)48

13,3431,370

10,935866172158

CO0

(*)

(*)(D)(*)

5,336525

4,811(D)171

-84,333

310

<?42521

1985

184,615

17,131

121,413

107,1052,2916,670

14,8161,237

34537,05643,5551,135

577

814,3082,357

10,5681,382

127(D)

22038

CO221(*)

39629(*)

2731

1239

19,313

3,3243,264

7212

16,826

3,4912,2041,287

280(D)0

2011675(*)41CO86

5331

-7402

103

13,3351,691

10,4431,028

172154(D)

2(*)

5(D)(*)

4,954494

4,460-3161

-33,968

400

-13

42019

1986

220,414

20,318

144,181

126,8532,4877,709

17,2501,323

26340,71755,9351,168

552256360

17,3283,963

12,0581,308

3118(D)

19539

(D)230(*)

2413018

3501

1260

26,824

5,6345,466

9772

16,763

4,1902,2021,988

292(D)

01821478(')45(D)86

84711

(D)02

476

12,5732,0029,685

560326309

(D)-2(*)

C)(D)(')

4,870567

4,3032314(*)(*)

3,77149003

4364

1987

261,927

21,732

177,963

157,2662,598

10,19519,6371,230

15447,04874,941

1,463728268467

20,6984,699

14,3431,655

1119(D)

23139

CO212(*)

4983023

4212

1140

33,361

6,6346,373

19268

15,287

4,2372,2232,014

312(*)

01952682(*)47(*)

65

88021601

451

11,0502,1888,895-275

24220932C)(')

(*)(*)-1

5,050518

4,5324014(')(*)

4,00256003

4152

Capital inflows (outflows (-))

1983

11,946

215

9,134

7,774317

-2011,007

28-10

2,7783,727

128346

88

1,360358962390

7110

140

-2(D)

-820

59CO(*)

-30(*)

13

1,653

218210

26

474

-21-89

6864(D)

02

151116

(D)(*)

2-39

2321

-5

496-216

538215

-42-40-2(*)

01

(*)0

(*)1626

-10(D)1

(*)-2

610

(D)3

-173

1984

25,359

3,294

14,686

13,292302774

1,291197129

3,5206,882

196963367

1,395216

1,035144

033_ i

097

02

CO-5(*)(*)(D)

-18391

(*)2

4,374

1,1481,188-46

7

615

90-167

25843CO2

76-8

6(*)

215

-161(*)-4(*)-2(D)24

52584

848-257

18162

(")00

(')0

(*)79176

715(D)-1(*)-6646260

(D)(*)5610

1985

19,022

911

12,794

9,823-171

302,292

— 5-1762,7764,665

413230

82S2,722

130

-293(D)

0113

0-1(D)-5(*)

12114

64(*)-1-4

3,394

1,2351,209

206

719

42473

35043(D)2

42216

(*)7

(D)(*)(*)

2221

-510

(D)55

296333

-22417018132

—2(*)

050

(*)

-370-28

-3426

_ j(*)

6-352

9021

-10-1

1986

34,091

2,547

21,730

19,000597

1,0171,982

114-45

4,37410,827

13457

?!2,7291,3951,414-80

2-11

CO0

-2501

(D)9

(*)-160

21877-1-121

7,268

2,7192,606

2984

332

82657

76912CO0

-13-1

3(*)

4(D)(*)(*)

315(*)-2(D)

0-1444

-1,15719

-750-554

127129(D)(')(*)(*)-5(D)(*)

-6849

-11727-2(*)3

-1546010

16-15

1987

41,977

959

34,974

31,28188

2,5512,403-364-1287,871

18,56229817913

107

3,693744

2,582367-2

2(D)

0370

(*)(D)

20

260-1

1711

-1-19

6,181

99690791-3

1,453

29345

20(D)

03

124

(*)2

(D)-2(*)33(*)(*)(D)

0_ i

-29

-1,42340

-482-880-102

116(D)

(*)0

(*)(')(D)(*)

193-57250

12C)(*)(*)

2511000

-1-21-2

Income

1983

5,598

10

4,473

4,009250

-416151

-184

1,8902,128

2173

11

46423

469-28

0~~0

0-11

0(*)(*)210

-2-2

17

(*)(*)

1,013

5055-1-4

72

714

672800

19-1

4(*)

521

(*)-13

(*)

(*)0

-123

2-214

3162575

-771

(*)00

(*)00

-3615

-51-1

1(*)-442800

(*)7

-3

1984

9,229

304

7,054

6,287239

-178803-73

293,1132,298

56103

44

767209562-4

0-2

00

-100

(*)(*)-8

07

(*)261

-11

1,884

-77-70-7(*)

75

-52-140

883600

29(')

6(*)521

(*)-13

<*)-3

103

22

127-134

2222315132

(')00

(')00

-1147

-58-2(*)(*)-6

-527001

-1-6

1985

6,079

348

5,240

4,80180

-157605

-11561

2,1312,127

69278

35

439175625

-3600

-37700

-1014

100

-10(*)

233(*)

7*)1,561

272223

-693

-6-103

973500

20(')

2(*)

(D)(*)(*)

11(*)

0(D)30

-687-255-462

51-20-20

2-2

00

(*)00

-39613

-409-2-1(*)

2-403

500

(')-5-3

1986

5,379

390

5,701

4,846-23

54-23

183

2,1792,611

2752

?!855164864

-1730

-2090060

(*)

30

-6(*)

31(')

(*)

1,009

2839

-111

-1,395

2411281132500

152

12C)

2(*)(*)

-21(')(*)101

74

-1,636193

1,74212235323000

(*)00

-3891

-390-3-2(*)3

-391800

(*)10

-16

1987

10,504

896

8,717

7,09322725

-86-20

102,3824,355

20088(D)

(D)

1,624401

1,197250

-340070

(*)240

2211

17313

1,178

2846224

-52

5714711000

-151

-4(*)

1(*)(*)1

(*)(*)10

(*)73

-109253277

-12741375

(*)00

(*)0

C)

26114

-276-2-1(*)

4-252

(D)00

(D)-24-10

See footnotes at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 83: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 81

Table 22.—Foreign Direct Investment in the United States: Country Detail for Selected Items—Continued[Millions of dollars]

Line

919293949596979899

100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136

137138

Other Africa, Asia, and PacificAfghanistanAlgeria .BangladeshBruneiCameroon.. ....Congo_ °,Fiji.. . ' . . ' ' .French Islands Indian OceanFrench Islands PacificGabonGhanaGuinea-Bissau ;Hong KongIndia ?.....Indonesia .. ..... . .

KenyaLaosLiberia . . .LibyaMadagascarMalawiMalaysiaMaldivesMorocco .. . ..Namibia . . . .NauruNigeriaPakistanPeople's Republic of ChinaPhilippines. .Senegal .Singapore . . .South KoreaSri LankaTaiwanTanzaniaThailandTogoTunisia .'.VanuatuZaireZambiaZimbabwe

Addenda:OPECEuropean Communities (12) 2

Direct investment position

1983

875(D)002

(*)C)3

(*)0

("o>00

32412-2

2-1(*)74200

22011

(D)_<j9

-7116

0186570

6916

(*)

(')(D)(*)0

4,039

1984

1,353(°)000

(*)(*)3

(*)0

C)C)

00

65916151

-1I

126200

2201

(D)-8177

1210

208-81

0701

18C)1

(*)(D)(*)

0

4,892

1985

1,6542

(D)

00

(*)(*)

4(')

0(*)

000

64019491

-13

361200

16011

(D)8

158

1180

242-101

(*)107

113(*)(•*)(*)(D)(')0

4,607

1986

1,823(°)(D)00

(*)(')

9<*)

0201

(*)60518371

-44

87220

39011

(D)6

1910

1130

169383

0177

114(')(*)(*)(D)(')(*)

4,787127,221

1987

1,900(D)00

(*)(*)(*)8

(*)02030

6991140

2-4

5552

(D)06011

(°)5

2012

1220

358210-3138

156(*)

0

t°!C)(D)

4,981157,710

Capital inflows (outflows (-))

1983

236(°)00

(D)00

(*)000000

8252

(*)

7

<3080

<*)(*)

?!(*)(D)140

89-1

0-11

0(')(*)

.(')

(D)00

-1

1984

449(D)00

-200

(*)(*)

00

(*)00

306

18(*)(*)

52C)

00

(*)0

(*)(*)1

(•).8

1450

23-24

010

11(*)(*)

W00

754

1985

339(D)

(D)00001

(•) '00

(«)0023

33(')(*)

233(l

0-5

0(*)(')1

(*)-2

30

34-3(*)370

-50

(D)00

-277

1986

228(D)(D)00004

'(*)0101

(*)41-1

-11

'-T-273

(*)20

230

(*)(*)<")1442

-50

73474

(*)710

-80

(*)

I-!0

(*)

29419,095

1987

128(D)(D)0

(*)00

(*)0002

' ( * ) '187-7

3(*)(*)I

-64(*)(D)0

-330

(*)(*)(D)(*)1190

189-181

-3-38

0420

-1

(D)0

(D)

21231,352

Income

1983

16100000

000000

2450

(*)(*)

-17.(*)

00

(*)0

(*)(*)

2051

1206

-320

12,(*)

~0(*)

. ( * ) •00

-9

1984

1000000

000000

58

0(*)•<n1

-64<*)

00

(*)0

(*)(*)

0101

1306

-3506

(*)10

<•)

< * ) .00

31

1985

-9(*)(*)

0000

000000

34

1?(*)(')

-2

(>^0-10

(•)(*)1051306

-530

(*)(*)10

-1

(')00

-380

1986

340

-20000

000000

83-3

7*)' ( * )-35

(*)00

-40

(*)(*)(*)031505

-170

10(*)-3

0(*)

(*)00

-3294,878

1987

-10

-10000

(•)000000

45-7

1(*)(*)

-34(*)

00

-40

(*)(*)

~03280

-1360

261

-30

(*)

-(*)00

-2117,111

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, tables 10 and 11.2. In 1986, Portugal and Spain joined the European Communities; prior to 1986, data for Portu-

gal and Spain were included in "other Europe."

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 84: SCB_081988

82 SURVEY OF CURRENT BUSINESS August 1988

Table 23.—Foreign Direct Investment in the United States: Industry Detail for Selected Items[Millions of dollars]

Line

1

23456789

10

1112131415161718192021222324

25

26272829303132333435

3637383940414243

4445464748495051

52535455

565758

5960616263646566676869

7071727374

757677787980818283848586878889

All industries

Mining . . . .Metal mining

Iron oresCopper lead zinc gold and silver oresBauxite and other aluminum oresOther metallic oresMetal mining services

CoalNonmetallic minerals, except fuels ;

Petroleum.Oil and gas extraction . . .

Crude petroleum (no refining) and natural gas

Petroleum and coal products manufacturingIntegrated petroleum refining and extractionPetroleum refining without extractionPetroleum and coal products nee

Petroleum wholesale tradeOther

Petroleum tanker operationsPipelines, petroleum and natural gas

Gasoline service stations

Manufacturing

Food and kindred productsGrain mill and bakery products

Grain mill productsBakery products ...

Beverages .. .Other . . . .

Meat productsDairy productsPreserved fruits and vegetablesOther food and kindred products . . .

Chemicals and allied productsIndustrial chemicals and syntheticsDrugsSoap, cleaners, and toilet goodsAgricultural chemicals ,Other .... .

Paints and allied products ,Chemical products, nee . . . .

Primary and fabricated metalsPrimary metal industries ,

FerrousNonferrous

Fabricated metal productsMetal cans and shipping containersCutlery, hand tools, and hardwarePlumbing fixtures and heating equipment, ex.

electric.Fabricated structural metal productsScrew machine products bolts etcMetal forgings and stampings.. ,Fabricated metal products, nee, ordnance, and

services.

MachineryMachinery, except electrical

Construction, mining, and materials handlingmachinery.

Special industry machinery...Office and computing machinesOther

Engines and turbinesFarm and garden machineryMetalworking machineryGeneral industrial machineryRefrigeration and service industry machinery.Machinery except electrical nee . .

Electric and electronic equipmentRadio, television, and communication

equipment.Electronic components and accessories . ..Other

Household appliancesElectric lighting and wiring equipmentElectrical machinery nee

Other manufacturingTextile products and apparel

Textile mill productsApparel and other textile products

Lumber, wood, furniture, and fixtures .Lumber and wood products...Furniture and fixtures

Paper and allied productsPulp, paper and board millsMiscellaneous converted paper productsPaperboard containers and boxes

Printing and publishingRubber and plastics products.. . .

Rubber productsMiscellaneous plastics products

Direct investment position

1983

137,061

1,928268(D)180

182(D)

1,281379

18,2092,3731,3691,005

14,04714,016

(D)(D)

1,202587(D)

303138(D)

47,665

7,447605120485

4,8431,999

27017916

1,534

15,76610,5022,1321,709

908515

10505

5,3224,1061,1572,9491,217

-24410

3901067

699

8,6083,4081,075

500758

1,07699

14926538935

1385,2001,803

2,3571,040

(D)13(D)

10,522369171198271130141

1,495920461115

2,127621372249

1984

164,583

3,920850140

(D)0

237CO

2,637433

25,4002,7291,739

99020,20220,174

COCO

1,930538

CO332135(D)

51,802

8,270580189391

5,4882,202

(D)178(D)

1,737

16,63110,6322,2952,328

867509

3506

5,8934,4481,6152,8321,446

-444

9

4829

68838

9,6823,8121,030

5361,1401,106

12611530240631

1265,8711,983

2,7411,147

CO26(D)

11,325412169243558390169

1,247584523140

2,501834389445

1985

184,615

4,039753

CO348

0276

(D)2,871

415

28,2702,8392,163

67622,16322,142

(D)(D)

2,767501(D)

313125(D)

59,584

10,710684223461

6,1353,891

144303

(D)(D)

18,83612,8442,4281,815

989760-5765

6,9525,2961,4543,8421,656

-7646

5085

771,003

9,2343,9161,089

5121,0251,291

21870

332406

67197

5,3181,969

2,1721,177

44123

712

13,852440172269

1,170(D)(D)

1,141513467161

3,326774258517

1986

220,414

5,0801,099

(D)656

0292

CO3,480

500

29,0942,3921,849

54222,43422,376

751

3,734534

CO296115(D)

71,963

12,1471,054

258796

6,4484,645

16244334

4,006

22,95416,1963,3392,036

454929-2931

7,2825,3421,6183,7241,940

(D)82(D)

5725

1101,019

11,5474,3491,133

6401,1261,450

430-5731854369

1487,1983,544

1,0112,643

(D)26(D)

18,033747267480829575254

1,292567556169

4,9781,353

2511,103

1987

261,927

5,6191,781

CO1,308

0310(D)

3,102736

35,3952,3411,792

54930,83030,716

6054

1,418806(D)

297121(D)

91,025

16,0041,489

516974

8,9785,536

17145341

4,871

30,44220,1273,7454,267

5231,780

31,777

8,1995,3171,7273,5902,882

(*)90

128

1,0456

1771,437

15,1575,3831,125

7942,1121,352

28361

29161763

1599,7744,962

2,0332,779

(D)32(D)

21,2231,004

366638914644270

1,670723679268

4,7802,134

9441,190

Capital inflows (outflows (-))

1983

11,946

54-47

(D)-10

0COCO6734

509-230-167-63

1,3191,334

(D)(D)

-711131(D)8834(D)

3,542

798471433

5981523530

— 289

1,390876336106

468-674

97210290500113

186

11

-2-123

108-37

-129

3569

-115

1871111015

14554

177-86

(D)(*)(D)

1,149-4191529-73637

-363934

41013910435

1984

25,359

1,553214

COCO0

55-12

1,28654

7,210216272

566,2386,240

CO(D)

74511CO

-22o

CO

3,992

818191

18481319

CO

CO300

83413216158841671

637419284135218-2(*)-1

80-1

2139

869279-54

36327-30

27352117-4

-55591176

38727CO13(D)

83447

249

-49437

10986325

49720819

188

1985

19,022

-57-95

COCO0

40-156

-18

3,147424450

271,9021,909-8

1835-14

13-19

102

8,049

2,53814330

113600

1,794CO

127COCO

1,9451,973

104-371

33272

1273

1,089892

-2891,180

198-220-3

37-3

8142

357230160

-36-120

226924418333692

587-23

-562-2CO-2(D)

2,83436-44077CO(D)

61148410521

872462470

1986

34,091

962346

CO308

016(D)

54373

662-405-271

134-209-220

COCO

1,24333CO

-18-10

CO

11,865

1,33731634

281218803

8199

COCO

4,1063,2161,022

220-496

1443

141

448170208

—38278

CO18(D)

63-13112

1,695312-33

10774

164212

-127-10131

950

1,3841,057

-1,0681,394

CO2

(D)

4,27827095

174-332

(D)CO

15154898

1,844432

13419

1987

41,977

484672

CO651

018CO

-423236

6,410-119-126

77,2907,235

523

1,034272

CO16

CO

20,443

3,832436258178

2,522875

7107

851

8,5675,007

4062,231

70852

4848

9592098

—78939

(D)8

CO

4711

66418

3,5941,001-28

164987

-122-147

-4-35

72-20

122,5931,433

1,025134(D)6

(D)

3,491247

90157775918

35514912284

-109896735161

Income

1983

5,598

-42-45

CO-41

05

CO21

1,657-270-158-1132,1012,114-12

C)24469CO5619CO

819

553531637

35814230132

97

51530143

159-214-317

-321-388-279— 109

66-1

53

252

(')37

40-166-102

-2536

-75-3

-17-53

6_1-7206170

7437CO(D)

-88

32196

149

-11014

-25336

1911728

-10

1984

9,229

-143-31

CO-54

015CO

-13825

2,788-211-119

912,6572,670-15

2242100138223

2,444

726381424

42126726184

220

81957078

201-23

8-6-2

-18-109-117

891-2

3-3

21-3

173

31840-8

2443

-5-5

413-5

1278189

827

(D)CO61

600551837-3

-107

159706227

130432815

1985

6,079

-501-209-32

-1890

14-1

-33139

2,15350

-34-16

1,9571,964-8

1146100148132

200

441541934

3807

-171931

488336131101927

-408-496-305-190

88-2

3- ' -,-3;

30-3

558

-836-206-102

-25-44-35-28-19-2

-1135

-10-630

92

-721-2(D)(D)71

515361225

-17-16-2825

6116

2083

11-8

1986

5,379

-14027CO370

19CO

-22759

302-462-343-118

515517-5

3159903

7980

75

79796COCO

434266-333

4232

518176257563

265

21

31-98-74-24129-2

38

44-1

274

-2,257-288-79

-14-42

-154-30-36-53-2-5

-28-1,968

CO

(D)13(D)CO

-84

987622834

-11-20

10131197140

227881970

1987

10,504

15088CO650

15CO1547

2,45636

-42,2682,242

COCO69

117CO6717CO

4,515

878102

COCO

488288

2292

254

1,9641,023

4763365872

666

25987

-99186171_ i

6r 4

931

-270

-330-130-149

30172

-183(D)

-39-31

41CO9

-20058

-31657(D)CO

-92

1,7441445489917516

213467690

18318939

150

See footnote at end of table.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 85: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 83

Table 23.—Foreign Direct Investment in the United States: Industry Detail for Selected Items—Continued[Millions of dollars]

Line

90919293949596979899

100101102103104105

106107108109110111

112113

114115116117118119120121122

123124125

126

127128129130

131132133134

135136137

138139140141

142143144145146147148149150151152153154155156157158159160161162

163164

165

166167168

169170171172173174175176

Other manufacturing — continuedStone, clay, and glass products...

Glass products . .Stone, clay, concrete, gypsum etc . . . .

Transportation equipment . . . . .Motor vehicles and equipment ... .Other transportation equipment nee . .

Instruments and related productsScientific and measuring instrumentsOptical and opthalmic goods . ..Medical instruments and suppliesPhotographic equipment and suppliesWatches, clocks and watchcases

OtherTobacco manufacturesLeather and leather productsMiscellaneous manufacturing industries

Wholesale tradeMotor vehicles and equipmentMetals and minerals except petroleumOther durable goods

Lumber and other construction materialsFarm and garden machinery, equipment, and

supplies.Electrical goodsHardware, plumbing, and heating equipment and

supplies.Machinery equipment, and supplies nee .Durable goods nee

Farm product raw materialsOther nondurable goods

Paper and paper productsDrugs proprietaries and sundriesApparel piece goods and notionsGroceries and related productsNondurable goods nee

Retail tradeFood stores and eating and drinking placesRetail trade, nee

Banking

Finance, except bankingFranchising, business — selling or licensing .. ..Holding companiesOther finance

InsuranceLife insuranceAccident and health insuranceOther insurance .. .

Real estateLessors of agricultural and forestry real estate

• Real estate, ne<£ . . ... ... ...

Other industries... .Agriculture

Agricultural production — crops ... .Agricultural production — livestock, ex. beef cattle

fdlt.Agricultural production— beef cattle feedlots ....Agricultural services

Forestry and fishingForestry .Fishing, hunting and trapping

ConstructionTransportation

RailroadsWater transportationTransportation by airPipelines, except petroleum and natural gasTravel agentsTransportation and related services , nee

Communication and public utilitiesCommunicationElectric, gas, and sanitary services .. .

ServicesHotels and other lodging placesBusiness services

AdvertisingResearch and development, and commercial

testing labs.Management, consulting, and public relationsEquipment rental and leasing, exc. autos &

computers.Employment agencies and temporary help

supply.Computer and data processing services . .Business services nee . .

Motion pictures, including television tape andfilm.

Engineering, architectural, and surveying servicesOther services

Accounting, auditing, and bookkeeping services-Automotive rental and leasing, without drivers..Health servicesLegal servicesEducational servicesServices, nee, provided on a commercial basis

Direct investment position

1983

2,498232

2,2671,6561,328

328888251(°)

173179(D)

5971

122475

21,0317,0453,3506,784

264117

2,10578

2,7021,5191,0412,812

161244219

1,0461,142

5,4822,1063,376

8,697

2,269(D)

2,213(D)

8,6654,007

(°)(°)

14,636506

14,130

8,4781,010

750188

765

138132

63,6761,255

574157122

1-540631728433

2,082520829

(D)75

21493

(D)

131244104

121509

(D)0

(D)00

371

1984

2,648285

2,3631,8801,302

578726168(D)

208168(D)

5172

(D)(D)

24,4558,8273,4788,273

360141

2,76697

3,1961,714

8872,990

9523190

1,1241,450

6,7642,7743,990

10,326

5,633(D)

3,687(D)

8,9224,878

(°)(D)

17,761521

17,239

9,599999696239

559

151144

74,3371,226

631163131

122

322407

(D)(°)

2,479541

1,170(D)76

375139

(D)

242245

1

169599(°)0

(D)00

400

1985

3,275(D)(D)

2,1421,537

6051,049

191245312192109535

0208326

29,05111,0433,4919,431

601103

3,219120

3,1912,1981,0494,036

191298191

1,1822,174

6,8222,8863,937

11,377

4,24655

3,793398

11,8067,260

(D)(°)

19,402493

18,909

10,019952647266

(D)(°)

154145

94,0371,459

666190153

112

43747538391

2,943629

1,204(°)83

354135

(°)

25730484

200827

(D)13(D)

00

584

1986

3,347293

3,0542,3581,899

4591,981

354287702494144

1,1470

(D)(°)

33,99712,3493,583

11,705747204

4,243130

3,7142,6661,3575,003

342492124

2,1901,855

8,9233,6195,304

12,394

7,239(D)

3,560(D)

15,3459,363

(D)(D)

22,512474

22,038

13,8681,068

664320

4738

18216913

3,6021,797

632386191

115

57249539798

6,7241,0822,591

602134

484413

43

386528(D)

(D)1,801

(D)(D)

25000

1,516

1987

3,950311

3,6402,4981,919

5792,909

355345

1,027(D)(D)

1,3640

(D)(D)

37,58012,9573,167

13,188852210

4,524137

4,5872,8771,6106,659

587458176

2,5702,869

9,5463,9115,635

13,848

7,982(D)

4,417(D)

15,9519,220

(D)(D)

24,478446

24,032

20,5021,320

781364

13342

25418668

3,5902,360

624410624

235

665582467115

12,3963,1784,910

717(D)

566476

CO

3531,177

(D)

(D)3,025

(D)(D)

28000

2,709

Capital inflows (outflows (-))

1983

179-15194112300

-188195120

<°)11330(D)52

8(D)

2,2941,144-130

80712

-10

39514

37620

23124128(*)17

341146

25371

182

909

187(")

407(°)

80066(")(D)

2,93317

2,916

465509

26

(D)(D)38371

1812132(D)(D)

(*)2548(°)(D)

19145

120O5)12

8-9

(D)

5438

-72

-35134

10

8200

52

1984

1133182

108999

-9-92

(°)34

-11(D)

-69

(4(D)

2,9401,803-42

1,3854624

65620

488151

-179-25-66-9

-14354

139

1,185629556

1,729

2,570(D)

583(D)

609896(D)(D)

2,66719

2,648

902-9

-5051

-2-814122

551-51-11

169

C)-28-37

48(D)(°)

350-16408(°)

24346

(D)

106-11

-200

23135(D)0

(D)00

61

1985

662(D)(D)

29623561

32321(D)

10124(D)

-89

(D)'<")

3,8822,218-2241,141

237-40

47722

154301785689668

101104200

-2172

-94

1,445

-1,530(")

-162(D)

2,2501,229

261759

1,574-27

1,601

285-29-31

27

(D)

121

334189352318

2489

-34(°)(D)

49039

103-17

3

-2-6

-3

705883

26240

(D)(D)3100

196

1986

-45(D)(D)

217362

-1451,222

47242

37030334

5210

(D)(D)

4,6791,215

472,303

14695

97611

447628257857119104

-671,002-301

1,759663

1,096

1,757

1,896(D)

441(°)

3,7022,653

(D)(D)

3,099-27

3,127

3,7101112638

(°)(D)28244

-402370-3522838(1i

135140134

73,461

4211,154

(D)50

102278

(D)

122255855

47985(D)(D)(D)00

943

1987

57918

561336217120896

158

290(D)(D)

2130

(D)(D)

3,549573771

1,444109

3

28110

843198267

2,035244-34

43380

1,403

539144395

858

730(°)

813(D)

569-163

(°)(D)

1,714-27

1,741

6,6822339844

874

7217553

539-823

433

2170877017

5,7472,0922,393

(D)31

7864

(D)

43649(D)

(D)1,225

(D)(D)2900

1,193

Income

1983

30-535

-197-207

9-85-22

(D)

18-18

(D)34(*)1122

1,1381,012-221

102-9

1

1684

-1377627

2183

518

6294

45552

403

831

146

~9651

587282(D)(")

343-10353

-335-108-81-16

—2-10

1(')

-86-50-10

5-5

-27-65-62-2

-272

-2(*)

2

-32

-3

4-3

-12

-352010500

14

1984

14722

1251716(*)87102219

30-34

1-4

-31

2,6371,724

92674

3-2

3329

133198-55203

1037

-2260

119

831399432

754

68-2

862

-613-187

(°)(D)

740-8748

-277-97-87

2

-2-11

1

j7

14-28

11(*)-818

-73-67-7

9(°)3

<*>

-202

(*)

192

(D)

939

01400

24

1985

25144

207-145-163

18124

136291345

-271

__ i-27

2,4122,060

1-59935

-11110

24168

-58297

2701278

135

24966

182

1,379

-502

-6311

892567(D)(°)

29-17

46

-684-44-49

7

-1-1-2-3

1-505

338

122

(',>5

-83-75-8

-83-8

-9416

-1102

-3

30-19

11

-182510

1300

11

1986

44220

422-201-115-861101432311716

1380

(D)(D)

1,4911,377

81232411

-498

1102077

-941685

-50102247

818284534

1,448

743

2546

1,6981,049

(D)(D)

73-23

97

-46167

-7

-1-5-1-4

2-529

21-34

15-5(*)

38-26-20-681

130-50

383

-106-10

3

165

-35

-15511

-31700

35

1987

4758

46714110337

2162261

1071413930

(D)(D)

2,093714106965327

-11815

121-3140

1,03736

1087

151734

568226342

74

57-4274

-213

916345

(D)(D)

-81-27-55

-245348

-3-6

211

-313919

4910(*)

221

-22-25

2-5

-11-110

33-10

-103-5

7

-387

-61

1175

2-22200

154

* Less than $500,000 (±).D Suppressed to avoid disclosure of data of individual companies.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 86: SCB_081988

By JOHN C. MUSGRAVEFixed Reproducible Tangible Wealth in the United States, 1984-87

ESTIMATES of fixed reproducible tangible wealth in the UnitedStates for 1984-87 are shown in tables 1-20. They incorporate the revisednational income and product account estimates for 1985-87 that ap-peared in the July 1988 SURVEY OF CURRENT BUSINESS. Estimates of fixedprivate, capital, by industry, are shown in tables 1-4; fixed nonresidentialprivate capital, in tables 5-8; residential capital, in tables 9-12; govern-ment-owned fixed capital, in tables 13-16; and durable goods owned byconsumers, in tables 17-20. Estimates for the wealth series for yearsthrough 1983 are unrevised and appeared in the following issues of theSURVEY: For 1925-82, January 1986; for 1983, August 1987.

Table 1.—Current-Cost Gross Stock of Fixed Private Capital,Nonresidential and Residential, by Industry, 1984-87 1

[Billions of dollars]

Fixed private capital

Nonresidential

Agriculture forestry and fisheriesFarmsAgricultural services forestry and fisheries

MiningMetal miningCoal miningOil and gas extractionNonmetallic minerals except fuels

ConstructionManufacturing

Durable goodsLumber and wood products . ..Furniture and fixtures . . . . . ....Stone, clay, and glass productsPrimary metal industriesFabricated metal productsMachinery except electricalElectric and electronic equipmentMotor vehicles and equipmentOther transportation equipmentInstruments and related productsMiscellaneous manufacturing industries

Nondurable goods ,. ..Food and kindred products ,Tobacco manufactures ,Textile mill productsApparel and other textile products . .Paper and allied products ......Printing and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous plastic productsLeather and leather products . ..

Transportation and public utilitiesTransportation

Railroad transportationLocal and interurban passenger transit ,Trucking and warehousing <Water transportationTransportation by air , .Pipelines, except natural gasTransportation services

Communication ,Telephone and telegraphRadio and television broadcasting . . .

Electric, gas, and sanitary servicesElectric servicesGas services ^Sanitary services

Wholesale trade

Retail trade . . . .

Finance, insurance, and real estate ...BankingCredit agencies other than banksSecurity and commodity brokers, and servicesInsurance carriersInsurance agents and brokers and servicesReal estateHolding and other investment companies

ServicesHotels and other lodging places . ..Personal services . .. ..Business servicesAuto repair, services, and garagesMiscellaneous repair servicesMotion picturesAmusement and recreation servicesOther services

Health servicesLegal services . . .Educational servicesOther 2

ResidentialFarmsReal estate

1984

11,565.9

6,432.9

38653548318

444634.5456

3423222

1103

1,444.07902

33.711.455.6

173.2876

1309110.2

88.256.1288144

653.8129.5

8.840613.490.648.7

179.89594333.2

1,887.4575.7249.4

9.6100.866076.138.0358

539.15101

28.9772.66014151.220.1

228.0370.8

1,031.6122.1

87.44.8

26253

7731126

529.8936259

126.990.413.010738.9

13037929026

39.5

5,133.01435

4,989.4

1985

12,105.0

67064

38363501335

448435.3469

3440223

10941,497.2

821734111.955.6

176.2917

1353119.5

91.860.0309147

675.6134.2

9.541413494.951.7

183.5983454

3.2

1,947.5586.2255.6

9.6105.065874.539.1366

552.95221308

808.46319154.8

21.7

247.7401.7

1,104.7131.6

93.75.3

31551

8233142

566.31021

26.5134.3

98.613.811 141.1

13888581002.6

40.5

5,398.51452

5,253.3

1986

12,692.9

6,993.4

378.73443344

420.135.3467

3163218

109.9

1,549.6852.6

34.412.455.9

177.2956

140.7128.1

95.864.432.815.1

697.0139.2

10.241.813.599.354.9

187.8100.0

47.03.2

2,023.6586.1248.6

9.7109.767074.640.136.4

592.4559632.9

845.06618160.1

23.0

272.8433.4

1,193.9149.1102.6

6.440853

8726170

611.6111.2

27.2147.0107.8

14.511743.1

149293211.22.7

42.1

5,699.51463

5,553.2

1987

13,511.6

7,354.4

377.53421354

420.136.0473

3152216

110.8

1,609.3886.135.113.256.3

179.699.7

146.2138.1

98.568.935.115.5

723.2145.311.042.713.8

104.559.0

193.0102.4

48.33.3

2,107.0592.0248.4

9.7112.9

68.475.440.736.4

630.4595335.1

884.7695.0165.0

24.7

298.1

471.8

1,297.0168.5110.7

7.451054

934.419.7

662.7122.028.1

160.6116.7

15.212345.3

162.4102.9

12.62.9

44.0

6,157.21510

6,006.2

A detailed statement of the methodology underlying the wealth esti-mates is available in Fixed Reproducible Tangible Wealth in the UnitedStates, 1925-85 (see inside back cover). In addition to the estimates ofgross and net stocks in constant-cost and current-cost valuations for thetypes of wealth shown in tables 1-20, this report includes correspondingestimates of gross and net stocks in historical-cost valuation and esti-mates of depreciation, discards, and average ages of gross and net stocksin all three valuations, together with the investment data used to derivethe wealth estimates.

Table 2.—Current-Cost Net Stock of Fixed Private Capital,Nonresidential and Residential, by Industry, 1984-87 1

[Billions of dollars]

Fixed private capital

Nonresidential

Agriculture, forestry, and fisheriesFarmsAgricultural services forestry and fisheries

MiningMetal miningCoal miningOil and gas extraction . .Nonmetallic minerals except fuels .. . . . .

Construction

Manufacturing .. ,Durable goods

Lumber and wood products ,Furniture and fixturesStone clay and glass productsPrimary metal industriesFabricated metal productsMachinery except electricalElectric and electronic equipmentMotor vehicles and equipmentOther transportation equipmentInstruments and related productsMiscellaneous manufacturing industries

Nondurable goodsFood and kindred productsTobacco manufacturesTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous plastic productsLeather and leather products

Transportation and public utilitiesTransportation

Railroad transportationLocal and interurban passenger transit.Trucking and warehousing ,Water transportationTransportation by air . ,Pipelines except natural gasTransportation services

Communication ,Telephone and telegraphRadio and television broadcasting

Electric gas and sanitary servicesElectric services . . . . . . .Gas servicesSanitary services

Wholesale trade

Retail trade . . .

Finance insurance, and real estate . .Banking.Credit agencies other than banks .Security and commodity brokers, and servicesInsurance carriersInsurance agents and brokers, and servicesReal estateHolding and other investment companies ..

ServicesHotels and other lodging placesPersonal services. . . . . .Business services.. . . . . . .Auto repair services, and garagesMiscellaneous repair servicesMotion picturesAmusement and recreation servicesOther services

Health servicesLegal servicesEducational servicesOther 2

Residential .FarmsReal estate

1984

6,938.5

3,630.2

199.91830169

237.917 1257

183.911.2

57.0

789.0434.9

16.663

26888149.278.568544831.516.97.6

354169.55.7

19.969

50327.296.354.022.617

1,047.1284.8108.5

4.154.138740.121617.7

323.13062

16.94392348.5

79.3114

141.0224.4

626.373.652.03.2

16.42.9

46978.6

307454.714075.452.27.45.7

20.477.648.75.013

226

3,308.461.9

3,246.5

1985

7,254.6

3,771.7

193.5175.7

17.8

234.817.125.4

181.311.0

56.3811.7449.0

16.665

26287.650.980.374546.633.918.17.7

362771.56.1

20.168

52.529.196.854.223.917

1,074.7286.7111.6

4.155.437638.321817.8

327.83099

17.94602368.5

79.4123

154.6

244.4672.1

79.85613.6

21.02.8

49929.7

329660.514279857.37.85.9

21.982.252.55.813

226

3,483.062.2

3,420.7

1986

7,603.5

3,917.4

186.9168.718.1

210.816.524.4

159.510.4

56.9830.2460.6

16.667

25.985.452.681.979.348.836.719.0.7.7

369.573.66.5

20.06.8

54.530.997.553.524,61.6

1,114.2284.5108.4

4.357.637.337.721.917.2

348.6329.6

19.0481.1386.581.5132

170.9

263.5

727.191.461.7

4.428.52.8

526511.8

357.166.514.587.663.28.16.2

23.187.856.86.61 5

22.9

3,686.162.0

3,624.0

1987

8,091.1

4,100.6

183.8165.018.8

202.616.424.0

152.39.9

57.8

852.9473.9

16.97.2

25.884.454.283.684.950.039.120.17.8

379.076.2

6.920.36.9

56.833.398.853.225.01.6

1,154.3284.6108.0

4.359.036.937.621.817.1

366.8346.7

20.1502.9405.3

83.4142

186.4286.7

788.6103.9

66.25.0

36.32.8

560913.5

387.473.315.095.868.78.56.6

24.594.962.47.616

23.3

3,990.563.7

3,926.8

1. Estimates are as of the end of the year. .2. Consists of social services, membership organizations, and miscellaneous professional

services.

84

1. Estimates are as of the end of the year.2. Consists of social services, membership organizations, and miscellaneous professional

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 87: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 85

Table 3.—Constant-Cost Gross Stock of Fixed Private Capital,Nonresidential and Residential, by Industry, 1984-87 1

[Billions of 1982 dollars]

Table 4.—Constant-Cost Net Stock of Fixed Private Capital,Nonresidential and Residential, by Industry, 1984-87 l

[Billions of 1982 dollars]

Fixed private capital

Nonresidential . . . .

Agriculture, forestry, and fisheriesFarmsAgricultural services forestry and fisheries

MiningMetal mining...Coal miningOil and gas extractionNbnmetallic minerals except fuels

ConstructionManufacturing

Durable goodsLumber and wood productsFurniture and fixtures.Stone clay and glass productsPrimary metal industriesFabricated metal products . . .Machinery, except electrical .Electric and electronic equipmentMotor vehicles and equipment..Other transportation equipmentInstruments and related productsMiscellaneous manufacturing industries

Nondurable goods .Food and kindred productsTobacco manufacturesTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous plastic productsLeather and leather products

Transportation and public utilitiesTransportation . . .

Railroad transportationLocal and interurban passenger transitTrucking and warehousingWater transportationTransportation by airPipelines except natural gasTransportation services

Communication .Telephone and telegraphRadio and television broadcasting

Electric, gas, and sanitary services ,Electric servicesGas services .. " •;Sanitary services ...

Wholesale tradeRetail trade

Finance, insurance, and real estateBankingCredit agencies other than banksSecurity and commodity brokers, and services ,Insurance carriersInsurance agents and brokers and servicesReal estateHolding and other investment companies

Services..Hotels and other lodging placesPersonal servicesBusiness servicesAuto repair services and garagesMiscellaneous repair servicesMotion picturesAmusement and recreation services .Other services

Health servicesLegal servicesEducational servicesOther2

Residential . ...Farms . . . . . . . .Real estate

1984

10 903 8

6 127.5

351.83217301

537 4

32.0437

4410207

103.0

1,360.2750131.110.6529

1628829

128.1103.884.3527274135

610.1120.1

8.3373125848456

168.989.040630

1,755.35462236.9

9.092.763.7726368344

476.4450.226.3

732.756721462193

220.2339 6962.1121085.95.0

27354

7046130

497.984924.1

124.085312.3104364

120.77338.427

36.2

4,776.21331

4,643.1

1985

11 254.4

6,348.3343.73128309

548932.0437

4529203

100.5

1,393.5773.330.710.9525

162.384.9

134.9112.386.055829313.5

620.1122:1

8.837112387.448.2

170.089.641830

1,795.5541.2232.2

8.893.363.971636934.5

498.0470.627.4

756.3590 2145720.4

243.23600

1,034.1138495.56.2

37956

7343163

528.990924.1

134.590512.710837.8

127.57849.430

36.7

4,906.1131.7

4,774.4

1986

11,601.6

6,544.7333.7302.431.3

541.131.5431

446.919.5

98.8

1,415.7789.930.211.1520

159.986.9

139.3118.988.259.130.713.6

625.8123.6

9.336.512.189.650.2

170.189.242.32.9

1,836.5536.2226.4

8.795.064.070736.834.5

520.5491.928.7

779.861101469218

267.1

379 31,110.7

159.2105.2

7.952457

7597206

561,896 724.2

146.196.513.111338.9

135.083.710.533

37.4

5,056.9129.6

4,927.2

1987

11,945.4

6,738.6

325.0293.231.8

530.131.0424

438.118.6

96.71,435.4

805.029.811.551.5

157.888.7

143.6125.588.961.832.313.5

630.4125.1

9.736.112.091.652.6

169.588.542.42.9

1,871.5529.7220.6

8.596.063.5697368346

540.3510.629.7

801.562971485233

291.74003

1,191.8183.4114.4

9.869658

7836251

596.1102424.4

158.2102813.511740.0

143.189611.837

38.1

5,206.8128.0

5,078.9

1. Estimates are as of the end of the year.2. Consists of social services, membership organizations, and miscellaneous professional

services.

Fixed private capital

Nonresidential

Agriculture forestry and fisheriesFarmsAgricultural services, forestry, and fisheries

MiningMetal miningCoal mining .Oil and gas extractionNonmetallic minerals, except fuels

Construction ,Manufacturing

Durable goodsLumber and wood productsFurniture and fixtures . ..Stone, clay, and glass products ..Primary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipmentMotor vehicles and equipmentOther transportation equipment . . .Instruments and related productsMiscellaneous manufacturing industries

Nondurable goodsFood and kindred productsTobacco manufacturesTextile mill products .Apparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous plastic productsLeather and leather products

Transportation and public utilities ....Transportation

Railroad transportationLocal and interurban passenger transitTrucking and warehousingWater transportationTransportation by airPipelines, except natural gas ;.Transportation services

CommunicationTelephone and telegraphRadio and television broadcasting .

Electric, gas, and sanitary servicesElectric servicesGas servicesSanitary services

Wholesale tradeRetail trade

Finance, insurance, and real estate .BankingCredit agencies other than banksSecurity and commodity brokers, and services ... .Insurance carriersInsurance agents and brokers, and services ......Real estateHolding and other investment companies

ServicesHotels and other lodging placesPersonal servicesBusiness servicesAuto repair, services, and garagesMiscellaneous repair servicesMotion picturesAmusement and recreation servicesOther services

Health servicesLegal services.Educational servicesOther 2

ResidentialFarms .Real estate

1984

6,534.6

3 456 2

181 8165.716.0

288.7159245

237910.553.0

744 2413415358

25683.046.676.864542829.716.17.2

330764453

1836.4

47.225.690350321.21.6

971.6270 3103 1

3849837.438.320.917.1

28542700153

415.9328.2767110

136.7

205.4585.473751433

1753.0

427789

289449712974049.3695.5

19 172045.1471.4

207

30784573

3021 1

1985

6,741.0

3 5765

173 1156.816.4

289.015.523.5

240.09.9

51.5

758 042451495.9

25.080.947.380.370343.731.817.37.1

33356515.6

18.06.3

48.527.389649.622.01.5

990.82652101 4

3.849.336.536.820.616.8

29562796160

43003436748117

152 92189633.585758043

2633.0

4447114

308 953.913080552.6725.8

20175848.0551.6

206

3,1644565

3,108.0

1986

6,939.6

3,670.4

164.3147.816.5

273.014.722.4

226.79.2

50.9

761.1428814.56.0

24.477.247.981.373.745.033.817.96.9

332.365.45.9

17.56.1

49.328.488347922.21.5

1,010.626049873.8

50035.735.720.216.4

30662900166

443.6356.3748126

1683

230.5682.799964256

37.83.1

4576146

329 158.013087556.6736.1

20979751.0641.9

205

3,269.255.0

3,214.2

1987

7,131.7

3,759.7

157.6140.716.9

256.814.121.3

212.98.5

50.1

763343241446.3

23.974.348.482.277145.235.318.66.8

33086566.1

17.26.0

49.929.986746122.0

1.41,024.4

254795838

50234.334.619.716.3

31462976170

45513664751136

1829243.1732.2115969268

5043.1

4693175

349361.613094560.6756.4

21684154.3722.1

204

3,372.0540

3,318.0

1. Estimates are as of the end of the year.2. Consists of social services, membership organizations, and miscellaneous professional

services.

Data AvailabilityAnnual estimates through 1987 of gross and net stocks, depreciation, and discards in his-

torical-cost, constant-cost, and current-cost valuations for the types of wealth shown intables 1-20, together with the investment data used to derive the wealth estimates, areavailable on computer tape. To order the tape, write to Economic and Statistical Analysis/BEA, U.S. Department of Commerce, Citizens and Southern National Bank, 222 MitchellStreet, P.O. Box 100606, Atlanta, GA 30384, specifying BEA Wealth Data Tape (AccessionNo. BEA NIW 87-001) and include a check or money order for $200.00, payable to "Econom-ic and Statistical Analysis/BEA."

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 88: SCB_081988

86 SURVEY OF CURRENT BUSINESS August 1988

Table 5.—Current-Cost Gross Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1984-87[Billions of dollars]

Yearend

1984198519861987

Total

Equip-mentand

struc-tures

6,432.96,706.46,993.47,354.4

Equip-ment

3,153.23,286.63,446.83,607.0

Struc-tures

3,279.73,419.83,546.63,747.4

By major industry group

Farms

Equip-mentand

struc-tures

354.8350.1344.3342.1

Equip-ment

186.8178.5168.8160.0

Struc-tures

168.0171.6175.4182.0

Manufacturing

Equip-mentand

struc-tures

1,444.01,497.21,549.61,609.3

Equip-ment

962.2997.8

1,032.41,066.1

Struc-tures

481.8499.5517.2543.2

Nonfarmnonmanufacturing

Equip-mentand

struc-tures

4,634.24,859.15,099.65,403.0

Equip-ment

2,004.22,110.42,245.62,380.9

Struc-tures

2,630.02,748.72,853.93,022.2

By legal form of organization

Corporate

Total

Equip-mentand

struc-tures

4,899.45,121.75,360.55,649.7

Equip-ment

2,633.62,763.92,922.03,079.0

Struc-tures

2,265.72,357.82,438.52,570.7

Nonfinancial

Equip-mentand

struc-tures

4,658.04,858.95,060.85,311.4

Equip-ment

2,484.42,601.92,733.42,865.1

Struc-tures

2,173.62,257.02,327.42,446.3

Noncorporate

Equip-mentand

struc-tures

1,533.51,584.71,632.91,704.7

Equip-ment

519.5522.8524.9527.9

Struc-tures

1,014.01,062.01,108.11,176.8

Table 6.—Current-Cost Net Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1984-87[Billions of dollars]

1984198519861987

3,630.23,771.73,917.44,100.6

1,728.41,796.51,880.01,963.5

1,901.81,975.12,037.42,137.0

183.0175.71687165.0

86.679.472.567.6

96.596396.3974

789.0811.7830.2852.9

526.3541.9554.6567.7

262.8269.8275.6285.1

2,658.12,784.32,918.53,082.6

1,115.61,175.21,252.91,328.2

1,542.51,609.11,665.61,754.5

2,760.52,880.93,007.23,155.8

1,462.41,532.61,618.01,700.7

1,298.11,348.31,389.21,455.1

2,614.92,720.02,820.82,944.1

1,368.81,429.91,497.31,564.1

1,246.01,290.11,323.51,379.9

869.6890.7910.2944.8

266.0263.9262.0262.8

603.6626.8648.2682.0

Table 7.—Constant-Cost Gross Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1984-87[Billions of 1982 dollars]

1984198519861987

6,127.56,348 36,544.76,738.6

3,023.73,153.63,281.73,416.0

3,103.93,194 73,263.033225

3217312830242932

1708162215241441

1509150615001491

13602139351415714354

9272954997369904

4330438644214450

44456464204826650100

19256203652,155 722815

2,520.02,605.52,671 027285

46987489565074252501

25334266352,794 429299

21653223212279823203

445884,617 04748948725

237632 473.42564126540

2 082.5214362184822184

1,428 81,452 71470514885

490.3490.1487.24862

938.6962.6983 3

1,002.3

Table 8.—Constant-Cost Net Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1984-87[Billions of 1982 dollars]

1984198519861987

3,456 23,576.53,670.43,759 7

1,662.61,737.51,806.81,879 0

17936183901863718807

1657156814781407

791722655609

867845823798

74427580761 17633

5080521 152555297

236123692356233 6

2 5463266182*761 62 855 7

107551 1442121571 2884

1470815176154581 567 3

26457276072852929388

1 411 014888156211 6356

1234712719129081 3033

24993258592645 126963

1311413652141041 454 6

11879122071234712417

8105815981758209

2516248724472435

5589567257295774

Table 9.—Current-Cost Gross Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1984-87[Billions of dollars]

Yearend

19841985 .19861987

Total

5,239.55,510.25,816.96,283.4

By type of owner and legal form of organization

Private

Total

5,133.05,398.55,699.56,157.2

Corporate

Total

77.880.783.087.8

Nonfinancial

77.880.783.087.8

Noncorporate

5,055.25,317.85,616.56,069.5

Government

Total

106.5111.7117.4126.1

Federal

35.037.440.544.5

State andlocal

71.574.376.981.6

By tenure group l

Owner-occupied

Farm

134.3135.9136.9141.4

Nonfarm

3,469.03,644.33,879.14,214.3

Tenant-occupied

Farm

19.920.020.120.7

Nonfarm

1,581.31,674.21,744.11,868.2

Table 10.—Current-Cost Net Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1984-87[Billions of dollars]

1984. . .. .198519861987

3,377 43,55483,761.14,070.4

3308434830368613,990.5

449465477504

44946547750.4

326343,436 43,638.33,940.1

69171875179.9

22.924.526.829.5

46.247.348.350.4

58.558.858.760.3

2,316.32,436.42,602.42,836.0

7.27.17.17.2

978.51,035.41,075.91,149.2

Table 11.—Constant-Cost Gross Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1984-87[Billions of 1982 dollars]

1984198519861987

4,875.55,007 55,160 95,313 0

47762490615056952068

726736739744

726736739744

4,703.64 832.54983051324

993101410401062

32.734.0359375

66.667.468.2687

1245123212131198

3,225.73,309.83,438.53,560.9

18.618.217.917.5

1,474.11,523.81,550.81,582.2

Table 12.—Constant-Cost Net Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1984-87[Billions of 1982 dollars]

1984198519861987.... . .

3,142.83,229.73335734393

3,078.43,164.43269233720

419424424427

41.9424424427

3,036.53,122.13 22673 3294

64.465.2665673

21.322.2237248

43.043.0428425

54.253.452051 1

2,154.22,212.42306123943

6.76.56361

911.9942.0956.19727

1. Excludes stocks of other nonfarm residential capital, which consists of dormitories, fraternity and sorority houses, nurses' homes, etc.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 89: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 87

Table 13.—Current-Cost Gross Stock of Government-Owned Fixed Capital, 1984-87[Billions of dollars]

Yearend

198419851986 ...1987

Total

Total

Equip-mentand

struc-tures

3,561.33,847.93,965.44,143.2

Equip-ment

739.5795.9840.6878.9

Struc-tures

2,821.83,052.13,124.73,264.3

Excluding military

Equip-mentand

struc-tures

2,853.03,064.13,142.03,289.4

Equip-ment

225.3236.1250.1265.0

Struc-tures

2,627.72,828.02,891.93,024.4

Federal

Total

Equip-mentand

struc-tures

1,161.71,257.21,307.51,359.5

Equip-ment

595.4641.6673.7701.0

Struc-tures

566.2615.6633.8658.5

Excluding military

Equip-mentand

struc-tures

453.4473.3484.2505.7

Equip-ment

81.381.883.287.1

Struc-tures

372.1391.5401.0418.6

Military

Equip-mentand

struc-tures

708.3783.9823.3853.8

Equip-ment

514.1559.8590.5613.9

Struc-tures

194.1224.1232.8239.9

State and local

Equip-mentand

struc-tures

2,399.62,590.82,657.82,783.7

Equip-ment

144.0154.3166.9177.9

Struc-tures

2,255.62,436.52,490.92,605.8

Table 14.—Current-Cost Net Stock of Government-Owned Fixed Capital, 1984-87[Billions of dollars]

1984198519861987

2,100.42,259.52,321 524232

4075445547675053

1,692.91,814 01844719180

1,724.8184271880719614

1177127013731485

1,607.1171571743418129

633.3688771997553

331.2362238464051

302.1326.533533502

257.7271.9279.12934

41.443.7452483

216.3228.2233.9245.1

375.6416.7440.8461.8

289.8318.4339.5356.8

85.898.3

101.4105.0

1,467.11,570.81,601.61,668.0

76.383.392.1

100.2

1,390.81,487.51,509.51,567.8

Table 15.—Constant-Cost Gross Stock of Government-Owned Fixed Capital, 1984-87[Billions of 1982 dollars]

1984198519861987

3,347.83,422 53,501 535937

689.0725.176438165

2,658.82,697 42,737 227772

2,682 0272702772728244

2140220422692378

2,468.02,506 62545925866

1,097.51 13261 167812156

552.1581961356570

545.4550.7554.35586

431.7437.1439.14463

77.077.176.178.3

354.7360.0363.0368.0

665.8695.5728.7769.3

475.1504.8537.4578.7

190.7190.7191.3190.6

2,250.32,289.92,333.72,378.1

136.9143.2150.8159.5

2,113.32,146.62,182.92,218.6

Table 16.—Constant-Cost Net Stock of Government-Owned Fixed Capital, 1984-87[Billions of 1982 dollars]

198419851986 .1987

1,974 2201172053121057

3805406543424706

15937160521618916351

16211163991660016851

1117118412441333

15094152151535615517

5985622864616797

3080329235103807

2905293729522990

2455251125312591

39.2410412435

206.3210.0211.92156

353.0371.839304206

268.8288.1309.7337.2

84.383.783.383.4

1,375.71,388.91,406.91,426.0

72.577.483.289.9

1,303.21,311.51,323.71,336.1

Table 17.—Current-Cost Gross Stock of Durable Goods Owned by Consumers, by Type, 1984-87[Billions of dollars]

Yearend

1984198519861987

Total

2,606.22,817.13,064.33,318.3

Motor vehicles 1

Autos

915.51,025.31,145.71,242.9

Other

170.5193.1217.3239.6

Furniture and household equipment

Furniture,includingmattresses

andbedsprings

321.4339.8356.7375.0

Kitchen andother

householdappliances 2

200.8205.7217.1223.8

China,glassware,tableware,

and utensils

105.7111.0119.0125.6

Otherdurablehouse

furnishings 3

228.3241.0251.6268.7

Radio andtelevisionreceivers,

records, andmusical

instruments

182.8192.7207.8233.3

Other

Jewelry andwatches

172.9180.0199.3228.0

Ophthalmicproducts

andorthopedicappliances

36.640.145.151.4

Books andmaps

78.183.286.990.2

Wheel goods,durable toys,

sportsequipment,boats, andpleasureaircraft

193.7205.3217.8239.8

Table 18.—Current-Cost Net Stock of Durable Goods Owned by Consumers, by Type, 1984-87[Billions of dollars]

19841985..... .19861987

1,286.01,397.71,534.81,684.1

378.9428.5487.9543.9

88.2103.2118.2131.8

172.6182.4191.9202.3

106.9110.5117.9122.7

54.858.062.866.7

120.7127.6133.8143.6

105.1113.6124.6140.5

95.699.3

110.3125.8

19.221.324.328.0

39.441.943.745.7

104.5111.4119.4133.0

Table 19.— Constant-Cost Gross Stock of Durable Goods Owned by Consumers, by Type, 1984-87[Billions of 1982 dollars]

1984198519861987

2,510.52,658.22,817.82,983.9

870.7929.8988.7

1,045.7

162.1175.0187.4201.4

302.0310.9320.8331.3

196.8205.7215.8226.7

103.8106.9110.7114.4

214.9222.1230.6239.7

202.9229.6260.8294.2

171.0179.7189.7198.8

33.535.638.341.5

67.767.968.169.0

185.0195.0207.1221.2

Table 20.— Constant-Cost Net Stock of Durable Goods Owned by Consumers, by Type, 1984-87[Billions of 1982 dollars]

1984198519861987 .

1,241.71,326.61,423.71,527.7

360.5388.9421.3457.8

83.993.5

101.9110.8

162.2166.9172.6178.7

104.8110.5117.2124.3

53.855.958.460.7

113.7117.6122.6128.1

116.7135.4156.3177.2

94.699.1

105.0109.7

17.619.020.722.6

34.234.234.235.0

99.8105.8113.5122.7

1. Includes tires, tubes, accessories, and other parts.2. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment,

stoves, air conditioners, sewing machines, vacuum cleaners, and other appliances.

3. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, pic-ture frames, mirrors, art products, portable lamps, and clocks. Also includes writing equipmentand hand, power, and garden tools.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 90: SCB_081988

TheNational Income

and Product Accountsof the United States,1929-82

STATISTICAL TABLES

This publication presents the estimates of the national income and product accounts (IMIPA's)that resulted from the comprehensive revision released in late 1985. The revision incorporateddefinitional and classificational changes, statistical changes reflecting newly available sourcedata and new estimating procedures, and updating of the base year for calculating real GNP to1982. The complete set of 130 NIPA tables, in nine parts, are included. The nine parts are:

1. National Product and Income

2. Personal Income and Outlays

3. Government Receipts and Expenditures

4. Foreign Transactions

5. Savings and Investment

6. Product, Income and Employmentby Industry

7. Fixed- Weighted Price Indexes andImplicit Price Deflators

8. Supplementary Tables

9. Seasonally Unadjusted Estimates

NIPA estimates are also available on Diskettes. For more information, write to the National Income and Wealth Division

(BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230

Mail To: Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402

Credit Card Orders Only

Enclosed is $CU money order, or charge to myDeposit Account No.

i i i i i i i i-n

MasterCard andVISA accepted.

Order No._

Total charges $Fill in the boxes below.

CreditCard No.Expiration DateMonth/Year

_ The National Income and Product Accounts of the United States, 1929-82

"'-' STATISTICAL TABLES, Stock number: 003-010-00174-7; price $23.00

Company or Personal Name

I I I I I I I I I I I M I I I I I I I I I I I I I IAdditional address/attention line

Street address

City State ZIP Code

(or Country)

PLEASE PRINT OR TYPE

Customer's Telephone No.'s

IAreaCode

AreaCode

Charge orders may be telephoned to the GPO orderdesk at (202)783-3238 from 8:00 a.m. to 4:00 p.m.eastern time, Monday-Friday (except holidays).

For Office Use Only

Quantity Charges

Publications_____ SubscriptionsSpecial Shipping ChargesInternational HandlingSpecial ChargesOPNR : . . . . '

__ UPNS...__ Balance Due

Discount 982Refund GPO eoe-a io

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 91: SCB_081988

CURRENT BUSINESS STATISTICS

The statistics here update series published in BUSINESS STATISTICS: 1986, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume(available from the Superintendent of Documents for $16.00, stock no. 003-010-00181-0) provides a description of each series, references to sources ofearlier figures, and historical data as follows: For all series, monthly or quarterly, 1983 through 1986, annually, 1961-86; for selected series, monthly orquarterly, 1961-86 (where available).

The sources of the series are given in BUSINESS STATISTICS: 1986; they appear in the main methodological note for each series, and are also listedalphabetically on pages 145-146. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sourcesare provided through the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated in footnotesbelow, data through 1986 and IT .,

methodological notes are as shown in Units

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

GENERAL BUSINESS INDICATORS

PERSONAL INCOME BY SOURCE t

Seasonally adjusted, at annual rates:Total personal income bil. $ ..

Wage and salary disbursements,total do

Commodity-producing industries,total do....

Manufacturing do ....Distributive industries do....

Service industries do ...Govt. and govt. enterprises do....

Other labor income doProprietors' income: $

Farm doNonfarm do ...

Rental income of persons with capitalconsumption adjustment bil. $..

Dividends .... doPersonal interest income do....Transfer payments do....Less: Personal contributions for

social insurance do ....Total nonfarm income do

DISPOSITION OF PERSONAL INCOME t

Seasonally adjusted, at annual rates:Total personal income bil. $..Less: Personal tax and nontax

payments doEquals: Disposable personal income do ....Less: Personal outlays do

Personal consumption expenditures do....Durable goods doNondurable goods doServices ... do

Interest paid by consumers tobusiness do

Personal transfer payments toforeigners (net) do

Equals: personal saving doPersonal saving as percentage of disposable

personal income § percent-Disposable personal income in constant (1982)

dollars bil $Personal consumption expenditures in

constant (1982) dollars doDurable goods doNondurable goods do ....

Implicit price deflator for personal consumptionexpenditures index, 1982 — 100

INDUSTRIAL PRODUCTION <>Federal Reserve Board Index of Quantity Output

Not Seasonally AdjustedTotal index 1977 — 100

By industry groupings:Mining and utilities do....

Manufacturing doNondurable manufactures . doDurable manufactures do....

Seasonally AdjustedTotal index do....

By market groupings:Products total do

Final products .. .. doConsumer goods do....

3,531.1

20940

625.5473.1498.9

5759393.7196 1

3642503

12.4828

499.1521.1

161.1C3 472 5

3,531 1

51143,019.62,898 02,807.5

406 59436

14573

89 1

14

121 7

4.0

26409

2 455 23850879.5

1 1907

114 3

125 1

103.5

12911301128.4

125.1

1333132.4124.0

3,780.0

22484

649.8490.3531.7

6468420.1207 9

4302700

18.4886

527.0548.8

172.0C3 716 0

3,780 0

57033,209.7310553,012.1

421 9997 9

1 5923

92 1

13

1042

3.2

26863

2 521 03909890.5

1 239 5

119 5

1298

104.3

1347136.8133.1

129.8

138.3136.8127.8

3,747.1

22318

645.7486.2527.6

6396418.92069

3822658

17.4881

521.2548.7

171.03 6880

3747 1

566 13,181.1310833,015.2

427 71 001 41 586 2

91 7

1 4

728

2.8

2664 4

2 525 53963891.0

1 238 1

1194

1319

103.0

1374140.5135.3

129.1

137.8136.2127.2

3,778.6

22476

647.9488.2533.0

645.8421.02083

4102689

17.7890

526.95509

171.73716 8

-37786

57093,207.8312863,035.0

433 11 00201 6000

923

13

792

2.2

26822

2 537 8'4004891.7

1 2457

1196

1287

103.9

133.5138.7129.8

130.6

139.5137.9128.9

3,803.7

22690

652.9492.1537.7

655.4423.02093

336272.4

18.0900

533.0551.6

173.137492

38037

577 13,226.6316763,073.5

449 81009816139

928

13

59 0

2.3

2686 3

2 558 9414.0894.7

1 250 1

1201

1343

109.2

139.2145.0135.0

131.2

139.9138.4129.4

3,820.8

2,278 6

657.6497.4539.9

656.1425.02103

31 1273.3

18.5906

539.0552.7

173.43 768 8

38208

580 53,240.3316073,066.0

441 31 00801 616 7

93 5

13

79 6

3.0

2683 3

2 538 9405.2889.2

1 244 5

1208

1353

106.2

140.9145.8137.3

131.0

139.4137.8127.7

3,897.2

2,302.9

662.9499.8545.7

667.4426.92114

67.9277.8

19.5913

545.0556.4

175.138085

38972

58523,312.0315653,061.4

41541 006 816392

939

12

1555

3.7

2731 0

2 524 4382.0885.8

1 2566

121.3

1352

104.7

141.0143.0139.6

132.5

140.9139.3129.0

3,884.1

2,318 7

667.3502.3547.6

674.7429.22124

31.6278.6

20.591.9

550.0556.1

175.838319

3 884.1

58823,295.9316573,070.3

41961 Oil 516392

943

1.2

1302

4.3

27105

2 525 o385.6889.1

1 250 2

121.6

1327

106.9

137.5139.1136.3

133.2

141.0139.2129.4

3,939.0

2 353 5

666.3501.8548.6

706.4432.32133

41.4280.6

21.592.4

555.1557.9

176.83 877 1

3,939.0

59953,339.53,193.13,097.0

43101018816472

950

1.2

1464

4.1

2745 1

2 545 8395.2896.6

1 254 1

121.7

129.9

108.1

134.0135.0133.3

133.9

141.3139.8129.8

3,921.8

2,342.3

669.4505.2554.8

683.1435.02140

35.9278.6

20.892.8

554.4572.2

189.13,865.5

3,921.8

57813,343.73,206.93,109.8

437 1100911,663.6

959

1.2

1369

4.3

27398

2 548 i399.8887.7

1 2607

122.0

130.8

111.8

134.4134.2134.6

134.4

142.7141.1131.2

3,946.7

2,359.0

673.5507.3559.3

689.0437.12146

41.5279.0

20.593.6

554.1574.6

190.23,884.7

3,946.7

570.03,376.73,222.93,125.4

43741,011.91,676.0

96.4

1.2

153.8

4.4

2,768.0

2 562 0401.7892.1

12682

122.0

134.2

111.2

138.5138.4138.6

134.4

143.4141.6131.3

3,985.9

2,374.7

685.0516.3560.4

690.2439.0215.2

56.8279.9

20.294.0

554.1582.2

191.23,908.7

3,985.9

579.53,406.43,247.23,149.0

438.91,027.51,682.6

97.1

1.2

159.1

4.0

2,779.2

2 569 2402.0898.3

12690

122.6

134.1

106.1

139.4139.2139.5

134.7

143.6141.8131.2

r3,999.3

2,394.0

685.1514.3568.5

699.5441.0215.8

r43.6r282.8

'19.394.7

r558.8582.8

192.4r3,934.8

r3,999.3

643.5'3,355.8r3,259.3r3,160.6

r442.5rl,025.51,692.7

97.5

1.1r96.6

r4.0

r2,722.2T2 563 8

'404.9r888.0

1 271.0

123.3

133.9

103.5

139.6139.8139.4

135.4

144.1142.5131.9

'4,020.6

'2,408.5

'687.7'516.8'571.6r706.1443.0216.4

'44.1'285.2

18.995.0

'563.7582.2

193.43,955.4

'4,020.6

'579.9'3,440.7'3,284.5'3,185.3

'445.11,038.11,702.1

98.1

1.1

156.2

'3.9

'2,778.9

'2 572 6'406.8'893.5

1,272.3

123.8

135.0

101.8

141.2140.6141.6

136.1

144.9143.3132.5

'4,046.0

'2,427.4

'694.6'521.2'576.4

'711.4445.0217.4

'40.5'288.2

18.895.4

'568.7'584.1

194.6'3,984.1

'4,046.0

'579.6'3,466.4'3,321.2'3,221.4

'457.11,043.61,720.7

'98.7

1.1

145.1

4.3

2,792.5

25952416.1896.7

1,282.3

124.1

"139.5

"107.7

"145.5"146.4"144.9

"136.6

"145.4"143.9"133.0

4,071.2

2,451.9

699.9525.0584.1

720.9447.0218.5

32.4290.7

19.496.3

571.7586.3

195.94,017.6

4,071.2

584.23,487.03,337.53,237.1

457.11,047.11,732.9

99.3

1.1

149.5

135.6

V 108.4

140.8143.8138.6

137.7

146.1144.8133.4

See footnotes at end of tables.

S-l

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 92: SCB_081988

S-2 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and 1T ..methodological notes are as shown in Umts

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

GENERAL BUSINESS INDICATORS—Continued

INDUSTRIAL PRODUCTION <>-Continued

Seasonally Adjusted— ContinuedBy market groupings — Continued

Final products— Continued

Durable consumer goods 1977 = 100...Automotive products do ....

Autos and trucks, consumer doAutos, consumer doTrucks consumer do

Home goods do

Nondurable consumer goods doConsumer staples do

Consumer foods andtobacco do

Nonfood staples do..

Equipment doBusiness and defense

equipment doBusiness equipment do....

Construction, mining,and farm do

Manufacturing do

Power .. doCommercial .. doTransit do ....

Defense and space equipment do....Intermediate products do....

Construction supplies doBusiness supplies do

Materials doDurable goods materials do .Nondurable goods materials do....Energy materials do

By industry groupings:Mining and utilities do

Mining doMetal mining . doCoal doOil and gas extraction # do

Crude oil doNatural gas do

Stone and earth minerals do

Utilities doElectric do

Manufacturing doNondurable manufactures do

Foods do

Tobacco products doTextile mill products doApparel products do

Printing and publishing doChemicals and products doPetroleum products doRubber and plastics products doLeather and products do

Durable manufactures doLumber and products do

Furniture and fixtures doClay, glass, and stone products doPrimary metals do

Iron and steel doNonferrous metals do

Fabricated metal products doNonelectrical machinery doElectrical machinery doTransportation equipment do

Motor vehicles and parts doInstruments do

BUSINESS SALESMfg and trade sales (unadj ) total mil $Mfg. and trade sales (seas, adj.),

total do

Manufacturing, total doDurable goods industries doNondurable goods industries do

Retail trade total $ doDurable goods stores do ..Nondurable goods stores do..

Merchant wholesalers total 1" doDurable goods establishments doNondurable goods establishments do ..

Mfg. and trade sales in constant (1982)dollars (seas, adj.), total bil $

Manufacturing doRetail trade doMerchant wholesalers do

115.6115.31129973

141 8

1158

12711339

1327135.2

1436

1481139.4

55.71140

8242174108.8

182.0136.21264144 6

113.8120.0117.5997

103 51004742

127.793.9

105.0839

123 1

10851224

129.1130.11344

97 1109 2103.1136 5

160.9132.0

92.7151.4

61.4

128.4124 1

1438118.275.163.497 2

108.0145.0165.7127.5111 51398

5 109 020

1 5 109,0201 2 273 2981 201 7041 071 594

1 1 437 497538,618898,879

1 1 392 313681 177711,136

120.2118.51151907

160 5

121 6

13061374

1363138.5

1489

153 6144.5

62.2117 9

8262265108.4

188.9143.4131 51535118.2125.0125.9998

10431007776

131.892.7

100.3855

128 2

11031266

134.7136.81378

103 51159107.4144 4

172.1140.2

93.5163.6

60.0

133.11303

152 8119.181.370.6

101 6111.0152.7172.3129.2111 81439

5 439 984

' 5 439 9841 2 408 5781 263 6011 144 977

1 1 510 579559,105951,474

1 1 520 827739 277781,550

117.4114.91079874

1460

1193

13091376

13601392

148 1

1532144.2

630117 2

84 02267105.4

188.6143.3131 51534

11721240124.1994

103099 2707

128.891.8

100.2839

128 5

1094128 8

134.0136.91377

107 0117 2107.7142 6

174.1139.3

92.3165.4

60.8

132.0131 1

153 9117.9

78.868.3985

111.1151.8170.5

126.5107 4144 5

472 078

r453 882r200 952104 888

r96 064

126 461r46,976r79,485

126 469r61 823r64,646

435019531180121 7

120.4117.51123864

1604

122 5

13211389

137 2140.6

1497

1544145.6

65.01204

8182279106.1

188.7145.013311552

118.5125.2127.6990

103799 271 4

127.991.898.6837

1307

111 2131 0

135.6138.51385

1068118 3109.7148 8

174.0140.8

94.1167.2

59.2

133.51328

156 2118.8

81.470.9

101 2111.1155.3172.5

127.61094143 8

442 139

r454 137

199 395103 03296363

127 037r47,403r79,634

127 70562 15565,550

438.2196311871232

121.2118.01124768

1784

123 6

13251392

137 4141.2

1502

1545145.6

66.41209

8282277104.7

189.1145.313251563

119.4125.5128.31009

1054100979 3

130.593.099.5849

1303

1129132 0

135.9138.81388

1104119 8108.4148 9

174.7142.3

92.9164.861.3

133.8131 1

155 2116.585.176.0

1022110.1154.3174.3128.1109 1146 3

455 932

460 047200 404104 13596 269

129 98149,61480,367

129 6626238767,275

4403195312001250

118.6114.21072791

1594

121 9

13101378

137 01386

151 2

1552146.3

6611220

81 12291105.1189.8144.913231556

1197126.4128.61002

1054101 9865

133.393.397.9849

130 0

111 2127 5

135.7138.61395

101 71182107.6147 4

174.9142.493.5

165.260.7

133.71269

155 9118.6

84.574.6

103 3111.1156.6173.4

125.510561456

473 639

464 984

205 732108 43397 299

127 81547,94879,867

131 43763 58467,853

443 1199 3117 6126 2

124.3124.31222947

173 2

124 3

13081374

137 5137.2

1530

1572148.7

66.5120 5

8302324112.5

190.3146.11333157 1

121.2128.7128.21018

1068103 6856

140.394.1

100.784 5

131 0

112 11268

137.3138.11380

103 71168108.0146 0

175.2141.5

94.6166.7

59.6

136.81298

156 0118.9

90.682.0

1069113.5158.0175.5132.011601467

477 868

464 947206 396108 25198 145

126 80846,88979,919

131 74364 26567,478

442320041164125 5

123.9121.31187919

168 5

1258

13151383

137 3139.4

1522

1566148.3

66.31206

8312321111.2

188.7147.313421584

122.5130.2129.61028

107 9104 6904

142.994.2

101.1882

134 1

113 2127 5

137.9139.61389

1065117 3109.4148 3175.7144.4

93.3169.9

60.7

136.7134 0

158 5120.5

90.279.7

1100113.6157.2175.6130.41140147 8

459 515

462 975

207 226108 37898848

127 24847,06780,181

128 5016232566,176

4385200116 51220

120.3115.41102837

159 5

1239

13331407

1392142.2

1531

1578149.8

67.41222

8422355109.1

188.9146.513381574

123.7132.0132.51017

107 3104 6965

140.694.1

100.7886

1356

111 71256

138.9141.31401

1105118 2107.8150 6

176.9147.996.1

170.657.5

137.3133 6

159 4120.1

90.681.9

107 0115.8161.0175.9

128.111021455

494 164

468,303

211 356113 02698330

128 61548,00080,615

128 33261 98366,349

44042009117 91216

121.7118.71128775

1783

124 0

13471423

1403144.3154 3

1592151.2

67.11254

8622380106.5

190.6148.113681578

1230131.8129.91014

107 81033915

140.293.199.687 2

132 1

11521303139.4141.41412

10581162108.7149 9177.5147.J96.£

170.558.3

137.913631580120.4

86.577.8

1030117.1162.9177.4

128.610971482

423 137

465 730

207 241108 94698295

128 76948,68980,080

129 7206248667,234

4420201 3117 91228

120.6117.6111879.5

171 6

1228

13531429

1408145.0

1553

1603152.4

67.61249

8832403108.2

191.0149.413771594

122.1131.4128.11006

10681015839

133.792.498.487 1

1343

11561307

139.5141.1141.9

10701153108.51480

178.7145.4

95.9172.3

59.7

138.41390

1583121.6

86.477.4

1035117.6163.6177.8128.41093149.2

450 610

470,656

208 913110,52298391

130 12149,70880,413

131 6226379567,827

447.22027119 61250

120.4120.6116486.3

1722

1202

13511425

1394145.7

1559

1608153.3

68.31270

8782399111.1

189.9149.913731607

122.5131.3130.11006

10671027849

129.194.8

100.986 1

1369

11331290

140.0141.7141.1

1072117 0108.7149 1

180.4146.4

98.4172.259.5

138.81378

1594122.585.174.2

1057118.8164.6176.6130.01130149.7

499 134

479,709

214 565113,764100 801

132 25950,48081,779

132 8856488168,004

4514204 5121 01259

123.3121.9118.091.0

1682

124 3

13511425

1383146.8

1565

161.4154.6

r70.81277

r870r2415112.3

187.9149.613761599

123.6132.7131.11010

107 11047

r869136.0r95.5

101.4854

141 2

11101276

140.8142.3140.3

10721173109.2149 2

181.8148.9

r98.5172.3

58.0

139.71380

159 2121.485.374.5

1056118.8167.2178.7

130.41148

150.5

478 569

479,526

214,794112,627102 167

131 71750,41981,298

133 0156608166,934

449.4204711991248

125.7127.1126.998.9

1789

1247

135.1142.7

1394146.1

1576

162.7156.8

r71.11286

r87.1r245.5115.2

185.6150.1138.3160.2

124.2134.9130.4100.0

10651030

84.9127.8

r95.0100.5

1424

1123129.7

141.7141.9141.4

1068114.2108.6149 5

180.1148.4

r95.0173.8'57.1

141.5139.9

1596121.5

r89.2r78.6

109.1120.0170.0179.0

133.1119.6

151.3

r490 393

r483,578r217,481114,735102 746

132 833r50,418r82,415

133 264r65 933'67,331

"125.2"126.5"125.3"99.0

"1741

"124.1

"135.8"143.4

"1402"146.8

"158.5

"163.5"158.2

"72.3"1296

"88.3"247.4"116.3

"184.3"150.6"138.2"161.1"124.7"135.0"130.4"101.6

"107.9"103.5

"126.9"96.0

"101.7

"1401

"115.2"133.7

"142.0"142.5"142.0

"115.9

^1469

"182.2"149.1

"94.2"174.8"57.6

"141.7"138.6

"1609"122.4"87.6"75.0

"111.4"120.6"171.3"179.4

"132.4"119.0"152.8

512 692

490,592

220,640116,613104 027

133 38750,72782,660

136 5656636470,201

124.8123.7120.1'93.8

125.6

136.6144.4

148.0

159.8

164.8159.7

'72.9131.8

'89.3'249.9115.9

185.0150.8137.8

126.2136.7131.7102.8

1085104.1

132.6'95.3

115.8

143.1143.6

183.2

'94.7

142.8

'91.4

121.1173.5181.0132.3116.9154.4

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 93: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-3Unless otherwise stated in footnotes

below, data through 1986 and |T ..methodological notes are as shown in

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

GENERAL BUSINESS INDICATORS—Continued

BUSINESS INVENTORIESMfg. and trade inventories, book value

(non-LIFO basis), end of period,(unadjusted), total mil $

Mfg. and trade inventories, book value(non-LIFO basis), end of period,(seas, adj.), total mil $

Manufacturing, total .. do .Durable goods industries do....Nondurable goods industries do ....

Retail trade, total $ doDurable goods stores doNondurable goods stores do

Merchant wholesalers, total t doDurable goods establishments do....Nondurable goods establishments do ....

Mfg. and trade inventories in constant (1982)dollars, end of period(seas. adj ),total ...bil $..Manufacturing do ...Retail trade do ...Merchant wholesalers do ....

BUSINESS INVENTORY-SALES RATIOSManufacturing and trade, total ratio-

Manufacturing, total doDurable goods industries do....

Materials and supplies . do .Work in process do ..Finished goods do ....

Nondurable goods industries do ....Materials and supplies do....Work in process doFinished goods do ....

Retail trade, total $ do....Durable goods stores doNondurable goods stores do ....

Merchant wholesalers total t doDurable goods establishments do....Nondurable goods establishments do ....

Manufacturing and trade in constant (1982)dollars, total... do

Manufacturing doRetail trade doMerchant wholesalers do .

MANUFACTURERS' SHIPMENTS,INVENTORIES, AND ORDERS

Shipments (not seas, adj.), total mil. $..

Durable goods industries, total doStone, clay, and glass products do ....Primary metals do....

Blast furnaces, steel mills do....Fabricated metal products do ....Machinery, except electrical do....Electrical machinery ... doTransportation equipment do ....

Motor vehicles and parts ... do .Instruments and related products do....

Nondurable goods industries total doFood and kindred products doTobacco products doTextile mill products do

Paper and allied products doChemical and allied products doPetroleum and coal products ... doRubber and plastics products .do ....

Shipments (seas, adj ) total doBy industry group:

Durable goods industries, total # do....Stone, clay, and glass products do ....Primary metals do

Blast furnaces, steel mills do ...Fabricated metal products doMachinery, except electrical do ....Electrical machinery doTransportation equipment do

Motor vehicles and parts do....Instruments and related

products do ....

Nondurable goods industries, total #.. do....Food and kindred products do ....Tobacco products doTextile mill products doPaper and allied products do .Chemicals and allied products do....Petroleum and coal products do....Rubber and plastics products do ....

643 308

652 624

318 238207 854110 384

185 99691 08594911

152 887100 87152016

154

1 702.11

609754

1.24.4820.57

1552 131.211301.76.86

2,273,298

1 201 70456,787

101,73342,830

135 974205,804205 613314,081194 72560,860

1 071 594314 5001801654607

103 834198 348129 32072170

699 773

709 853

333 656216 753116,903

211 100107 948103 152

165 097107 99657,101

1.50

1612.00

5792.51

1.19.4619

.54

1582 191.22

1251.69.83

2,408,578

1 263 60160,977

111,45648,013

134 248212,759224 037323,403201 16363,277

1 144 977334 7741861956548

118 831214 671129 87178897

679 904

r680 518r321 817r208 835112982r200 015100 398

r99 617

158 686104 871

r53 815

657 0317218501548

1.50

1601.99

5792

r50

1.18.4619

.53

158r2 141.25

1251.70'.83

1 511 63157127

212,816

113 2385,3809,6234,198

119761955220 10528,78717 7005,724

9957828*66220605 126

102951889211 2187041

r200 952

104 888r4,954r9039r3896

11 13817 31618 704r27 29716,604

r5288r96 064r27 766

2060r4 783r9 785

17 82011,087

r6.572

680 751

684 154

323 333209 951113 382

202 210101 590100 620

158 611104 51454097

6588318918551544

151

1 622.04

589452

1.18.4619

.53

1592 141.26

1 241.68.83

1 501 631 56125

185,228

93 4124,9098,6843,789

10392164001668620,67411 4084,976

91 816273051 1444 1719772

16 57711 5985825

199 395

103 032493493364077

11 013180951880124 10814481

535496 363283821 1444862

102751800811,470

6.142

678 689

685 150

325 394210 921114 473

202 684101 569101 115

157 072103 32453748

6574319518471532

149

1 622.03

579452

1.19.4619.53

1562051.26

1211.66.80

1 491 641 54123

197,896

100 5855,0929,2394,052

11 047166261872422,921137375,150

97 311277521 4865012

1009417 76911 8626330

200 404

104 135487292824 118

1095918 10019 1332528815 828

5250

96 269279431 48648169950

1804811,7176.392

685 994

689 513

326 670211 680114 990

203 708102 394101 314

159 135103 93355202

6583320218301551

148

1 591.95

5591.49

1.18.4719.53

1.592 141.27

1211.63.81

1491 611 56123

217,014

114 0025,572

10,0054,271

11 570197332095228,22517 0765,791

103 012303321 9545255

1043519 26211 3466868

205 732

108 433509899504353

11 06118580193212766716,788

5,45897 29928 4051 9544818

1020018,20211,1586.505

707 480

697 648

328 554213 436115 118

206 577104 846101 731

162 51710673455783

663 8320318631572

150

1 591.97

559250

1 17.4619

.52

1632241.27

1 231.66.83

1 501 601 601 25

211,949

111 6855,699

10,2114,487

11 44918*54419 41328,820187495,485

100 264293841 2915 102

10 3671790311 3937 179

206 396

108 2515382

10 1134 510

1091518*54619 16327 48017*491

541898 145287131 2914*793

1040818 519113126.745

714 733

703 425

331 812215931115881

208 260106 490101 770

163 353106 50356850

666 1322 118661574

152

1 601.99

559351

1.17.4619

.52

1642261.27

1 271.71.86

1 521 611 60129

205,722

107 6255,132

10,1524,451

10928177761992827,45217 4255,389

98097286041 8744795

1007117 68711 0686827

207 226

108 3785282

106084741

11 16618 10319 37727 10717116

53759884828' 6461 8744880

104511885011 0996.826

699 773

709 853

333 656216 753116 903

211 100107 9481 03 152

165 097107 99657101

6690322618801584

152

1 581.92

549049

1.19.4619.53

1642251.28

1291.74.86

1 521 611 601 30

204,228

108 8724,552

10,2054,404

10445206152024426,979143485,597

9535628411

2 1694350

10 11218250106306212

211 356

113 0265280

11 2734794

11 460193511947129 15617050

539898330283892 1694587

106001862610,7966.869

706 576

715 027

336 815219 014117 801

209 824106 377103 447

168 388111 25957129

6738325418671617

154

1 632.01

569451

1.20.4719

.54

1632 181.29

1 301.78.85

1 521 621 58132

190,746

97 9744,4469,8034,333

102691655517 54024,547158284,903

9277227331

9204083

10 52518 53310 1746323

207 241

108 9465136

103714 501

11 26419 69219 8052571316239

5411

9829529383

9204710

10 77718883103666.795

717 849

717 882

338 552220 318118 234

208 698104 479104 219

170 632112 66157971

6755326918501636

153

1 621.99

559351

120.4719

.54

1602 101.30

1 301.77.85

1 511 611 55131

210,522

111 3774,868

10,5984,754

117231908719 42128,91018 8565,481

99 14528*8751 3694661

1096919 51799147109

208 913

110 5225179

102704 606

11 7071965219 50227 12617,199

554898391289991 3694713

1062719,10210,1236.945

r724 645

720 099

339 545220 730118 815

208 822103 631105 191

171 732113 69458038

6768326418661638

150

1 581.94

549049

1.18.4719.53

1582051.29

1291.75.85

1 50160154130

225,397

121 6685,316

11,5635,094

1240622,11521 06831,44919 8225,994

103 72930*162

19675036

11 06421 158102407521

214 565

1137645235

10 8904*838

11 85820223196752893617715

5692

100 801294921 9674692

106741992310,3047.356

730 352

723 973

340 893221 692119 201

209 550104 349105 201

173 53011481258718

677 6326718621646

151

1 591.97

559250

1.17.4619

.52

1592071.29

1 301.74.88

1 511 601 55132

215,898

114 3475,352

11,2325,017

1204919,7891895029,195190715,677

101 55129 186

13494 804

11 06320 844108197473

214 794

112 6275,101

107194750

11 86319710197192796017,612

5,877

102 16729,8551 3494896

1099020,11810,8347.302

r730 959

r729 033r343 274r223 502119772r212 341106 551105 790

173 418113666

r59 752

151

1 581.95

54r92

49

1.17.4619

.52

1602 11

1.28

1301.72'.89

r218,390

116 232r5,409

11,424r4,973

12,37719,95719 574r30,334r20 043

r5,638

102 158r29 842

r2 096r4 817

11 038r20 16310 991

r7,515r217 481

114735r5,217

11 052r4788

12 097r20 084r20 198r29 08618,708

r5,712

102 746r29,858

r2096r4844

11,05419,92110,975

r7.389

733,009

733 932

344,764224,328120,436

214 421107 479106 942

17474711271162036

150

1 561.92

5490.48

1.16.4618

.52

1.612 121.29

1281.70.88

233,872

126 0045,693

12,2115,286

13,32523,3722138631,32020,1286,318

107 868315822,0485,214

11 82421,06811,3597,901

220 640

116,6135,245

114834,908

1237720,6491991929,69118,914

5,830104,02730,58720484,872

11,25019,92411,2227,370

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 94: SCB_081988

S-4 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and f , .,methodological notes are as shown in u Ils

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

GENERAL BUSINESS INDICATORS-Continued

MANUFACTURERS' SHIPMENTS,INVENTORIES, AND ORDERS— Continued

Shipments (seas, adj.)— Continued

By market category:Home goods and apparel mil $Consumer staples doEquipment and defense products,

except auto doAutomotive equipment doConstruction materials, supplies, and

intermediate products do ....Other materials, supplies, and

intermediate products doSupplementary series:

Household durables do ....Capital goods industries do ....

Nondefense doDefense do

Inventories, end of year or month:Book value (non-LIFO basis),

(unadjusted), total do ....Durable goods industries, total do ....Nondurable goods industries, total do....

Book value (non-LIFO basis),(seasonally adjusted), total do

By industry group:Durable goods industries,

total # doStone, clay, and glass products do....Primary metals do....

Blast furnaces, steel mills do....Fabricated metal products doMachinery, except electrical do ....Electrical machinery doTransportation equipment do

Motor vehicles andparts ... do

Instruments and relatedproducts do

By stage of fabrication:Materials and supplies do ....Work in process doFinished goods do....

Nondurable goods industries,total # do

Food and kindred products do....Tobacco products doTextile mill products doPaper and allied products do....Chemicals and allied

products do ....Petroleum and coal

products doRubber and plastics

products doBy stage of fabrication:

Materials and supplies do ....Work in process do....Finished goods do

By market category:Home goods and apparel do....Consumer staples do.Equip, and defense prod.,

exc. auto do....Automotive equipment do....Construction materials, supplies, and

intermediate products do ...Other materials, supplies, and

intermediate products do ....Supplementary series:

Household durables do....Capital goods industries do ....

Nondefense doDefense do

New orders, net (unadj.), total do..Durable goods industries, total do ....Nondurable goods industries, total do ....

New orders, net (seas, adj.), total do...,By industry group:

Durable goods industries, total do ....Primary metals ". do

Blast furnaces, steel mills do ..Nonferrous and other pri-

mary metals doFabricated metal products do ....Machinery, except electrical do....Electrical machinery do....Transportation equipment do ....

Aircraft, missiles, and parts do....

Nondurable goods industries, total... do....Industries with unfilled

orders $ doIndustries without unfilled

orders {> do....

By market category:Home goods and apparel doConsumer staples do...Equip, and defense prod., exc. auto do...Automotive equipment do...Construction materials, supplies, and

intermediate products doOther materials, supplies, and

intermediate products do ...Supplementary series:

Household durables doCapital goods industries do...

Nondefense do ...Defense do

1 153 0751 447 890

1 372 1981 217 223

'179,596

' 903 316

'71,541'428,686'321761' 106 925

313,697204,025109,672

318 238

207 8546978

17,2117,786

21 17541,5183887852786

11 090

12585

59,3719531053,173

110 38423,64555856560

10480

26,983

9 907

8586

42,98617,33850060

24,96041 127

91,99013,393

22 658

124,110

12944105,7267172134005

2,273 7811,201,5661,072,215

'2,273,781

'1,201,566' 102 155' 43 560

' 48 103'134,969' 199 601' 207,800'318,641' 104,539

'1,072,215

'270650

'801,565

' 153 1441 447 892'373,513'216,996

' 179 223

'903,013

'71714'430,1871 320,057'110 130

' 162 635' 476 050

'385413' 225 420

'192,845

'965981

'75,958'446,907'337 113' 109 794

328,816212,704116,112

333 656

216 7537162

17,5428,022

2207241,4183997558079

11 413

12710

60,494101 24655,013

11690324,77855696874

11284

27,743

10646

9220

45,72218,62852553

27,04042717

95,14913,837

24 196

130,717

13384110,83073 80437026

2 438 4301,291,2101,147,220

'2,438,430

'1,291,210'116334'51041

' 55 502'134,901'215116'226,271'339,185'115,775

'1,147,220

' 297 757

'849463

' 163 427'475982'398,587'225,541

' 193 002

'981,809

1 76 331'466,051'355,582'110469

13 767'40 115

'32 04318 683

15,771

'80 573

r6,487r37,382'27 924

r9458

322,472209 890112,582

r321 817

r208 835r6988

16 299r7,296

'21 304r40,930r39 187r54 259

11 164

12 489

r59,705r96 244'52,886

112 982r26,509

r5913r6760

10 899

r26,496

10 420

r8684

r44,21118,173r50 598

r25 667'42 457

r92,30913,537

r23 177

124,670

13 157106 820

r71 874r34 946214 098114 35699,742

r205,109

108,860r9931r4 514

'4 67011,53717 49219 691'28,563

r9,297

'96,249

'24 844

r71 405

13 678r40 117r34 09518,719

15793

r82,707

r6424r40,007r30 057'9 950

13 51839 604

3251616493

16,117

81 147

6,16437,012281068906

324,070210,939113,131

323,333

209,9517,020

16,2297,296

2140240,8243927755,092

11 160

12511

59,4179690453,630

11338224,17059366796

10923

26,862

10546

8803

44,39418,03450954

25,85342 135

92,63213,566

23 398

125,749

13263107,58171 98235599

191 04098,60092,440

206,065

109,21397184380

4 54211,261188641942127,97012,132

96,852

25596

71,256

136683959536,01916,410

16 209

84,164

6 22541,905319829 923

1368340044

3234917 806

15,732

81 314

6,37637,289284948795

326,648212 106114,542

325 394

210 9217,055

16,4667,407

21 50140,8793938455582

10961

12561

59,32897 70653,887

114 47324*09159036957

11 021

26,847

11 031

9 104

44,6031838651 485

2582542 136

93,32613,458

23459

127,191

13 137108 3807231536065

198 583101 16397,420

203,391

106,67894614 159

447511,014184121923427,087

9,404

96,713

24 995

71 718

13 7343973933 87317,763

15828

82,454

6 39839,06129 5409 521

1379540602

33 53118851

16,115

82838

6,40739,233297099524

325,852211,586114,266

326,670

211 6807029

16,6677,514

21 74740,5123957955987

11 324

12675

59,5549862353,503

114 99024,64557446896

11 052

26,999

10769

9 069

45,2881843251 270

2612942 142

93,33913,773

23 547

127,740

13241108 07871 76736 311

216 845113 844103,001

206,719

109,345107354 697

509411,200188061999426,4938,680

97,374

24894

72480

13 83240 5873341318,856

16 023

84,008

640238,865297539 112

1373240403

3279719661

16,187

83616

6,42838,129289959134

328,414213 166115,248

328 554

213 4367096

169407,715

21 92740,9443978856790

11 267

12560

59,5879939054,459

115 11824*52256276931

10953

27166

10752

9 100

45,1091855451 455

2642142 128

94,14813698

23-689

128,470

13321109 22972 36136868

213 019112 797100,222

209 399

111,095104374278

534311,07718 95319 99928,5739,784

98,304

25627

72677

137764036533 91819,505

16 247

85588

6400404173041610 001

1367740859

3228219053

16,600

84755

6,56637,862286229 240

330,713214 613116,100

331 812

215 9317135

17,2497,849

21 97141,19140 19057889

11 459

12619

60,031100 82455,076

115 88124,69156006930

10995

27321

10 732

9 121

45,4201873651 725

2662842476

95,10813919

23 989

129,692

13 370110 67273 06337 609

209 404111 65997,745

209 626

110,949109035053

4 94511,290180242028828,6039,094

98,677

25 460

73 217

13 500408883443419,098

16 799

84907

6 36139824300859 739

1372540852

3536118927

16,817

85674

6,43340,8253073110094

328,816212,704116,112

333 656

216 7537162

175428,022

2207241,4183997558079

11 413

12710

60,494101 24655,013

116 90324,77855696874

11284

27,743

10 646

9 220

45,7221862852 553

2704042717

95,14913837

24 196

130,717

13384110 8307380437 026

208 377113 16495,213

213 822

115,62011 9975333

584011,47219 1951976231,15512,755

98,202

25 214

72988

134634089935*35318,880

17 097

88 130

6 2054292733 8799 048

1396140835

34 09718288

16,456

83604

6,71739,08330 6508433

335,081216 882118,199

336 815

219 0147136

180208415

2236141,83240 19558827

11 806

12757

60,930102 22155,863

117 80127,86456286984

11 391

28372

10298

9 576

46,2061875752838

2709942944

95,78614247

24 633

132,106

13 512111*5637446037 103

200 357107 31193,046

212 571

114,196102544308

5 19011,14220 5522071628,94610,603

98,375

26 015

72360

14 200407613625118,136

16 372

86851

6 89343 89534 7919 104

13 85140919

3456219 305

16,823

83453

6,61839,215307158500

339,758220,870118,888

338 552

220 3187 133

181888,453

2246842,1044032659018

11 669

12863

61,167103 10356,048

118 23427,98356086959

11 501

28,815

10301

9531

46,4181859453 222

2715143029

96,39514123

24734

133,120

13 540112 2997499437 305

216 702117 34399,359

212 641

114,319103774318

5 20411,758197201945230,52511,600

98,322

25 849

72473

14 17941 08737 89219,122

16 840

83 521

6 9834232033 7648 556

1364042255

3589019 909

16,718

86153

6,49741,202317059497

340,352221 463118,889

339 545

220 7307010

182028467

2228342,52340 13459501

11 536

12847

61,692102 88856,150

11881528,13956416920

11 450

28,846

10548

9 523

46,8871892853 000

2709543306

97,42013988

24 573

133,163

13 390113 1757587037 305

229 375125 609103,766

216013

115,252109364 594

r; 44^11,744202161870731,37611752

100,761

25 885

74 876

13 67542 27837 24319,848

16 627

86342

6 57742 27932 4759 804

1376642529

34,91019871

16,973

86,745

6,56839,537310698468

343,231223,423119,808

340,893

221 6927,048

18,2368,557

2247742,74240 15960049

11 504

12940

61,903103 76056,029

119 20128,50456667 003

11534

28,539

10748

9464

47,06619,04853 087

26,94243274

97,86613,950

24708

134,153

13 1841140127641437 598

219 343117 918101,425

219 326

117,26611 0984611

5 63711,9892041819 62831,40211,366

102,060

26 714

75 346

13 75942 47736 48819,946

17 102

89 554

6 5764345033 4929 958

13 883r42 974

r35 301r20 940

16,720

r87,663

'6,695'40,193r31 837

r8,356

'346,404r226,014120,390

r343,274

r223 502'7,121

18,286r8,529

r22 459r43,260r40 206r60 836

11 516

13 156

'62,387105 069'56,046

119 772r28,697

r5612r7024

11 542

r28,609

10 857

r9522

'47,32619,164r53 282

'27,130'43 172

'98,98013,999

'24 865

135,128

'13 227115 294'76 986'38 308

'216 369'114 354102,015

'217 799

115,093'11 887'5407

'5 56712,063'20 593'20 196'28,106'7,709

102,706

'26 513

'76 193

'13 792'42 949'34 61120,951

'16 657

'88 839

'6 658'39 576'31 582'7 994

1392143086

35,89521 226

16,835

89,677

6,39940,911318979014

345,523225,399120,124

344 764

224 3287042

18,2048,445

2214843,6204032561624

11 636

13129

62,791105 26056,277

120 43628,76956946967

11571

28,762

10697

9631

47,67519,09453667

26,95143470

100,06214,136

24 758

135,387

13 141116 36877 44138927

240 205132 421107,784

229 844

125,90211 4944885

5 67012,24621 5331995538*21012939

103,942

26 528

77 414

13 93043 07344 27021,131

16 819

90621

6 39650 03335 75814 97^

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 95: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-5Unless otherwise stated in footnotes

below, data through 1986 and Ir .,methodological notes are as shown in umw

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

*. July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

GENERAL BUSINESS INDICATORS—Continued

MANUFACTURERS' SHIPMENTS,INVENTORIES, AND ORDERS-Continued

Unfilled orders, end of period (unadjusted),total . mil $

Durable goods industries, total do....Nondurable goods industries with

unfilled orders $ doUnfilled orders, end of period (seasonally

adjusted) total mil $By industry group:

p . ° f 1 °jo—-TJ, Sf 1""Y .'ji jNonferrous and other pri-

Fabr?atedme ted od ts d°Machinery t 1 t " e l HElectrical machinery do

Aircraft, missiles, andparts do

Nondurable goods industries with

By market category:

Consumer staoles doEquip, and defense prod., excl.

auto do

Construction materials, supplies, andintermediate products do....

Other materials, supplies, andintermediate products do

Supplementary series:

Caoital goods industries doNondefense . doDefense do

BUSINESS INCORPORATIONS @New incorporations (50 States and Dist. Col.):

Seasonally adjusted do....

INDUSTRIAL AND COMMERCIALFAILURES @

Commercial service doConstruction doManufacturing and mining doRetail trade doWholesale trade do

Liabilities (current) total mil $Commercial service doConstruction do

Retail trade .... doWholesale trade do

Failure annual rate No. per 10,000 concerns..

370 410359,536

10874

372 974

361 85517 3189 165

539518 89355 29693844

160 965

137 671

11 119

3 511770

238 7965619

10,432

113 846

3069289 918127 820162,098

702 101

61 601209667 1105699

136234 865

43 284 78,370 21 78278 955 82718020354

120.0

400 414387,145

13,269

403 496

389 8602233512 251

7 10619 55657 66496233

176 803

152 209

13 636

4410698

252 1965 735

10,593

129 864

3449309 273146 294162,979

683 686

61 23524029

6*7244939

12 1854 304

33 024 580887227864 746 4371371 336 8

102.0

385 183372,099

13,084

r385 420r372 37619 62110 867

rg 041

18 879r56 412r92 645

167 696

142 229

13 044

r4616r697

r244 256r5934

'9,987

119 930r3878

'296 815135,537161,278

61 41257,234

49372035

542367898351

2742365901690586 7118 4980

390 995377,287

13,708

391 887

378 3962002811 247

6 048190645695493421

171 590

146,017

13 491

4717690

247 5255931

10,050

122 974

3893301 517139,172162,345

58 34557,145

55182 197

616456

1 093'403

2 1427'79301103207 7180 11243

391 682377,865

13,817

394 640

380 9392020711 288

6 16819 1195726693522

173 389

147 734

13 701

4768675

249 0495888

10,146

124 114

3915303 289140,218163,071

54 22558,181

4 4191 775

531367859320

1 907 462262025132 8141 781 3

391,513377,707

13,806

395 627

381 8512099211 632

6477192585749294195

172 215

147,407

13776

4805660

248 9315893

10,054

125 284

3910302 921140,262162,659

5529756J73

43021 766

477318863289

20262495485 1

141 01443891

392,583378,819

13,764

398 630

384 69521 31611 400

7045194205789995,031

173 308

148,980

13935

4849622

250,0525737

10,114

127 256

3882305 209141,683163,526

5522655,006

52842 104

616431

1092390

3 151 656521533199 5229781 8

396,265382,853

13,412

401 030

387 26621 61111 712

6930195445782095,942

174 804

149,636

13764

4672651

252,2045782

10,313

127,408

3677307 171143,146164,025

49 11855,753

40771 684

*467323763317

1 6105454.6843

173316871281

400,414387,145

13,269

403 496

389 86022*33512251

7 106195565766496,233

176 803

152,209

13 636

4410698

252,1965735

10,593

129,864

3449309 273146,294162,979

5591253,453

44411 875

438320913296

55162544.3107 6

1382715317

626

410,025396,482

13,543

408 826

395 1102221812058

7 166194345852497,144

180 036

155,126

13716

4649624

254,3505583

10,509

133,111

3625314 085150,435163,650

5327455,610

47901 971'486346928368

4 101 8773.8975

26231867

82.8

416,205402,448

13,757

412 554

398 90722,32511770

7 515194855859297,094

183 435

158,650

13647

4977792

257,6805400

10,526

133,179

3 990317 190153,484163,706

5703057,490

47751 974

528386969343

409331,433.1

17201 1945

152.3112.0

420,183406,389

13,794

414 002

400 39522,37111 526

7731193715858596,126

185 875

161,023

13607

5012815

259,0335339

10,435

133,368

4070318 267154,254164,013

'67 757r59,698

56462441

610475

1,021390

33709894.633273597278.4

86.0

423,628409,960

13,668

418 534

405 03422,75011387

8217194975929396,035

189,317

164,059

13500

5,005763

r260,6115414

10,564

136,177

4,078322,180156,677165,503

5714454,841

48991,977

561365963383

2,892 8790.786.3

2037230.9115.4

'421,607'408,082

13,525

'418 852r405 392

r23,58512 006

r840919,463r59,802r96,033

188,337

163,362

13 460

r4,914738

r259,921r5425

10,501

137,353r4,041

r321,563156,422165,141

5920358,042

427,940414,499

13,441

428,056

414,68123,59611,983

8,42519,33260,68696,069

196,856

167,531

13,375

4,923725

268,2965,330

10,485

138,297

4,038330,685160,283170,402

COMMODITY PRICES

PRICES RECEIVED AND PAID BYFARMERS t

Prices received, all farm products 1910-14=100..Crops # do

Commercial vegetables doCotton . doFeed grains and hay doFood grains doFruit doTobacco do

Livestock and products # do....Dairy products doMeat animals doPoultry and eggs do

Prices paid:Production items doAll commodities and services, interest, taxes,

and wage rates (parity index) 1910-14—100Parity ratio § do

CONSUMER PRICES <>(U.S. Department of Labor Indexes}

Not Seasonally AdjustedALL ITEMS, WAGE EARNERS AND

CLERICAL WORKERS, REVISED(CPI-W) 1982-84-100..

ALL ITEMS, ALL URBAN CONSUMERS(CPI-U) 1982-84-100Special group indexes:

All items less shelter do....All items less food do....All items less medical care do....

561461646462309300630

1 339666766817293

835

1 09651

108.6

109.6

108.0109.8108.8

578458717502269281674

1 255703765921244

850

1 11552

112.5

1136

111.6113.6112.6

593473629559285265724

1 230718728971235

112.4

113.5

111.7113.5112.5

588468660577272252724

1 233714734960235

858

1 12652

112.7

113.8

111.8113.8112.7

579442631538260258651

1 237723746965249

113.3

114.4

112.3114.5113.3

588452639548264279682

1 338731777967250

113.8

115.0

113.0115.1113.9

579458606544270296726

1 316706789931223

870

1 13251

114.1

115.3

113.2115.5114.2

601519

1 054549278310873

1 262687789885237

114.3

115.4

113.3115.7114.4

581485880542291313627

1 259681777886224

114.2

115.4

113.2115.5114.3

599496990512294319628

1 305706764935230

880

113853

114.5

115.7

113.3115.7114.6

592472644480304331615

1298718752972217

114.7

116.0

113.5116.0114.8

593477678487307325603

1,298714728966231

115.1

116.5

114.0116.6115.3

594482658502316327592

1,228711709971223

r897

1 15851

115.7

117.1

114.7117.2115.9

614508574497330343722

1,228726697994241

116.2

117.5

115.2117.6116.3

'627r550r580r517r401r378r661

1,228r707691

r947260

116.7

118.0

115.7118.1116.8

649590646512465389602

1,228710697919311

925

1,18255

117.2

118.5

116.1118.4117.2

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 96: SCB_081988

S-6 SURVEY OF CURRENT BUSINESS August 1988

Unless otherwise stated in footnotesbelow, data through 1986 and « -

methodological notes are as shown inBUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb.__ _ Mar. Apr. May June July

COMMODITY PRICES—Continued

CONSUMER PRICES t— Continued(U.S. Department of Labor Indexes)— Continued

Not Seasonally AdjustedAll items (CPI-U)— Continued

Commodities 1982-84 - 100Nondurables do ....

Nondurables less food .... doDurables .... do

Commodities less food doServices .. .. do

Food # d o .Food at home do...

Housing doShelter # do....

Rent, residential do....Homeowners' cost 12/82=100..

Fuel and utilities #.... 1982-84=100..Fuel oil, coal, and bottled

gas ..,, doGas (piped) and electricity do....

Household furnishings and op-eration do....

Apparel and upkeep do....Transportation do

Private doNew cars doUsed cars . do

Public doMedical care ... do

Seasonally AdjustedAll items, percent change from

previous month .Commodities .... 1982-84-100Commodities less food .... doFood ....do

Food at home ....do.Apparel and upkeep do...,Transportation do

Private doNew cars .. .. do

Services ....do

PRODUCER PRICES §(U.S. Department of Labor Indexes)

Not Seasonally AdjustedAll commodities 1982—100

By stage of processing:Crude materials for further

processing doIntermediate materials, sup-

plies, etc do...,Finished goods # do....

Finished consumer goods do....Capital equipment do....

By durability of product:Durable goods do....Nondurable goods do .Total manufactures do

Durable manufactures doNondurable manufactures do....

Farm products, processed foods andfeeds ....do

Farm products .. . doFoods and feeds processed do

Industrial commodities do....Chemicals and allied products do...,Fuels and related prod., and

power doFurniture and household durables do..Hides, skins, and leather products do..Lumber and wood products do..Machinery and equipment do..Metals and metal products do..Nonmetallic mineral products do..Pulp, paper, and allied products do..Rubber and plastics products .. do..Textile products and apparel do..Transportation equip # do

Motor vehicles and equip do..

Seasonally AdjustedFinished goods, percent change from previous

monthBy stage of processing:

Crude materials for further proc-essing. 1982-100

Intermediate materials, supplies, etc do..Finished goods # do..

Finished consumer goods doFoods .... doFinished goods, exc foods ... .do

Durable do..Nondurable do

Capital equipment do

PURCHASING POWER OF THE DOLLARAs measured by:

Producer prices 1982— $1.00Consumer prices 1982-84— $1.00

1044103.5985

106610171154109.0107.31109115.8118.3119.4104.1

776105.7

105.2105.9102310121106108811701220

1002

877

99.1103.2101.4109.7

107.594.8

1017107596.0

1012929

1054100.0102.6

698108.2113.0107.2108.8103.2110.0116.101.9103.21105109.

.96

.91

1077107.51018108210431202113.5111.91142121.3123.1124.8103.0

779103.8

107.1110.61054104211461131121 11301

1028

937

101.5105.4103.6111.7

109.997.5

1044109699.2

1037955

1079102.6106.4

702109.9120.4112.8110.4107.110.121.103.105.112111.

.94

.88

1077107.4101.4108.2104.1120.1113.8112.61143120.8122.3124.2104.9

77.2108.1

107.1109.3105.4104.3114.3114.7120.2129.9

.3107.8104.4113.9112.5110.810531042114.4120.0

103.0

951

101.5105.5103.9111.4

109.398.2

1043109199.5

105.598.8

1090102.4107.1

711109.9120.2111.4110.1105.8110.121.2102.3104.8112.3111.

94.101.105.103110.100.111.94

111

.94

.88

1076107.3101.3108.4104.1120.5113.7112.11147121.3123.0124.4105.0

77.1107.6

107.2107.3106.0104.9114.7115.4120.2130.7

.3108.0104.7113.8112.1109.9105.9104.8114.8120.4

103.5

96.0

102.1106.0104.4111.6

109.798.8

10481094100.1

105.297.9

1090103.1107.0

726110.0121.0112.4110.4106.7110.1121.6102.9105.3112.2111.4

95.101.105.104.110.101.111.95

111.

.94

.87

1082108.1102.6108.3104.9121.2113.8112.11154122.2123.8125.4105.9

77.8108.7

107.3109.4106.5105.4114.4115.5121.5131.2

.4108.4105.3113.9112.1110.3106.7105.6115.0121.0

103.8

96.5

102.5105.9104.3111.7

110.099.0

1051109.7100.5

104.095.7

108.2103.7107.1

73.8110.3121.3113.7110.6107.7109.122.103.105.111.110.

96.102.106.104.109.101.111.96.

111.

.94

.87

108.9109.0104.0108.3105.7121.7114.1112.41156122.5124.4126.0105.5

77.6108.2

107.5113.3106.6105.4114.1116.0122.1131.7

.3108.8105.5114.5112.7111.3106.8105.7115.2121.2

103.7

957

102.7105.7104.2111.2

110.298.8

105 11097100.4

104.696.1

1089103.5107.5

722110.3123.0116.2110.6108.8110.0122.9103.7106.0110.108.

96.102.106.104.110.102.112.96

112.

.94

.86

109.3109.4104.6108.8106.3121.9114.3112.4115.5123.2124.8127.1103.2

78.5103.3

107.4115.4107.1106.0115.2116.2121.2132.3

g

109.1105.9114.7112.8112.7107.2106.2115.5121.7

104.1

95.3

103.1106.2104.4112.5

111.498.5

10581109100.7

104.194.9

1087104.0108.2

71.1110.5124.1116.1110.9110.8110.4123.8104.4106.4113.8114.2

96.103.106.104.109.101.112.96.

112.

.94

.86

109.5109.5104.8109.6106.7122.0114.2112.1115.5123.4124.8127.4102.4

80.3101.4

107.4115.4107.8106.8116.6116.5122.0132.8

f.109.3106.2114.8112.8113.1107.7106.6115.7122.2

104.2

94.7

103.4106.3104.5112.5

111.798.6

106.0111.1100.9

104.196.3

108.104.2108.8

70.110.7124.116.9111.0111.110.123.105.106.113.113.

94.103.106.104.110.101.112.96.

112.

.94

.86

109.3109.1103.7109.5106.0122.2114.7112.8115.6123.7125.6128.0102.0

80.5100.9

107.3112.7107.6106.5116.6116.3122.1133.1

.2109.2105.9115.3113.5112.2107.4106.4115.7122.6

104.2

94.4

103.6105.8104.0112.4

112.098.3

106.0111.4100.6

104.095.7

108.2104.2109.1

69.5110.9125.7117.1111.3112.9110.4124.2105.5107.0112.111.

94.103.105.104.108.101.111.96.

112.

.94

.86

109.2109.1102.8109.4105.5122.9115.7114.1116.2124.6126.0128.5102.4

80.8101.5

107.5110.4107.1106.0116.2116.0121.8134.4

.3109.4106.0115.6113.7112.3107.3106.3115.5123.2

104.6

93.7

104.2106.3104.5112.9

112.898.5

106.6112.2101.1

105.397.3

109.3104.4110.6

67.2111.6128.4117.8111.9114.4110.8126.6106.2107.6113.112.

93.104.106.104.110.101.112.95.

112.

.94

.86

109.1109.0102.7109.4105.4123.4115.7113.9116.6125.0126.3129.0102.8

80.9101.9

107.7110.2106.8105.7116.2116.0120.8135.5

.2109.3105.9115.3113.0112.0107.1106.1115.8123.7

104.8

94.7

104.3106.1104.1113.2

113.098.6

106.8112.4101.3

105.397.9

109.1104.6111.6

66.7111.9129.118.4112.2114.7110.127.3106.9108.113.111.

94.104.106.104.109.101.112.95.

113.

.94

.86

109.8109.8104.1109.5106.3123.8115.9113.9117.0125.6126.4129.2102.7

80.5101.7

108.3114.3106.5105.4116.0116.1121.4136.3

K

109.9106.6115.7113.̂114.2107.2106.2116.2124.2

104.9

94.1

104.7106.3104.4113.2

113.3r98.8

107.:112.6101.7

105.8'98.2

109.6104.7

112.7

65.9112.3132.6118.9112.3

115.4110.128.0107.7108.

113.111.

r94.104.106.104.'110.101.112.

r96.113.

r.94.85

110.7111.0105.6109.7107.3124.1116.6114.6117.3125.8126.6129.4102.8

80.2101.6

109.1117.0107.2106.0115.9116.6122.4136.9

4110.6107.5116.5114.5116.5107.5106.5116.2124.6

105.8

95.7

105.5106.9105.1113.6

113.899.8

107.!113.1102.6

106.599.i

110.J105.6113.8

67.5112.4134.4119.2112.6116.8111.128.7107.8108.7113.111.

95.105.106.105.110.102.112.96.

113.

.93

.85

111.1111.4106.0109.9107.6124.6117.0115.1117.7126.2126.9129.9103.5

80.0102.6

109.3116.3108.1107.0116.3117.0122.4137.5

c

lll.C107.71T7.C114.<116.5108.2107.2116.<125.0

106.5

97.1

106.2107.5105.7113.9

114.0100.8108.5113.4103.7

108.1101.'lll.<106.1114.5

68.4112.6134.6119.1112.9117.111.129.5108.7109.0113.112.

96.106.107.'105.111.102.112.97.

113.

.93

.85

111.1111.4105.5110.2107.4125.5117.6115.8118.6126.6127.3130.4105.9

79.1107.8

109.6114.6108.5107.4116.5117.6123.2138.2

.3111.?107.8117.7115.1116.1108.4107.<116.6125.5

107.4

98.2

107.4107.9106.1114.2

114.5101.9109.:113.1104.4

111.3106.'113.<106.5115.2

68.7112.'131.4119.4113.2118.0111.4130.109.3109.3114.2112.

97.107.107.106.112.102.113.̂

96.<114.

.92

.84

111.5111.9105.4110.3107.4126.1118.8117.3119.1127.4127.8131.0106.0

76.9108.1

109.8112.7108.9107.8116.5117.9123.7139.3

.4111.9108.0118.9117.3115.4108.8107.7116.6126.0

107.8

97.0

108.2108.5107.0114.2

114.8102.5109.8114.1105.4

113.0108.7115.3106.7117.3

67.6113.1129.4120.2113.2119.2111.2130.7110.2109.6113.8112.8

.5

96.6107.9108.3106.7113.2103.4113.997.7

114.3

.922

.844

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 97: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS 8-7Unless otherwise stated in footnotes

below, data through 1986 and ,, Hmethodological notes are as shown in u us

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

CONSTRUCTION AND REAL ESTATE

CONSTRUCTION PUT IN PLACE @New construction (unadjusted) total mil $

Private, total # doResidential do

New housing units doNonresidential buildings, except farm and

public utilities, total # mil $Industrial doCommercial do

Public utilities:Telephone and telegraph .do....

Public, total # doBuildings (excl. military) # do

Housing and redevelopment do .Industrial do

Military facilities doHighways and streets do

New construction (seasonally adjusted atannual rates), total bil $

Private, total # do ...Residential do

New housing units doNonresidential buildings, except farm and

public utilities, total # . bil $Industrial .. doCommercial do....

Public utilities:Telephone and telegraph do

Public, total # .. doBuildings (excl. military) # do..

Housing and redevelopment do....Industrial * do ....

Military facilities doHighways and streets do

CONSTRUCTION CONTRACTSConstruction contracts in 50 States (F.W. Dodge

Division, McGraw-Hill):Valuation total mil $

Index (mo. data seas, adj.) 1982=100 ..Public ownership mil. $..Private ownership do ....By type of building:

Nonresidential do ....Residential do

Non-building construction i doNew construction planning

(Engineering News-Record) § do

HOUSING STARTS AND PERMITSNew housing units started:

Unadjusted:Total (private and public) thous..

Privately owned doOne-family structures do....

Seasonally adjusted at annual rates: <>Total privately owned .. do.

One-family structures do...,New private housing units authorized by building

permits (17,000 permit-issuing places):Monthly data are seas. adj. at annual rates:

Total thousOne-family structures do....

Manufacturers' shipments of mobile homes:Unadjusted . thousSeasonally adjusted at annual

rates do ...,

CONSTRUCTION COST INDEXESDept. of Commerce composite J 1982—100Boeckh indexes:

Average, 20 cities:Apartments, hotels, office

buildings 1982—100Commercial and factory buildings doResidences do

Engineering News-Record:Building 1967 — 100Construction do...

Federal Highway Adm.— Highway construction:Composite (avg for year or qtr ) 1977 — 100

386 093314 652187 148133 192

91 1711374756761

8,44571 441

23 4561,4561 6573867

22682

248 588'•158

59,862188,726

83,721122 89641 972

288 568

1,807 11 80541,179 4

17691,078

2443

1118

11491132117 3

3673399.5

171 6

398 850323 820194 772139 915

91 9941370755445

8,5307503025 1581 5191 4574324

22757

254 673'162

65,857188,816

89,422119 91545337

267 823

1,622.71 62051,146.4

1 5351,024

2328

1143

117 3115 11197

3756410.2

1720

35938289631806912714

769011644619

73469752150

132119360

2387

3926319519351386

899138540

79730242

1.61.443

214

25703167

7,12818,575

8,89611 6125 196

22429

163216291141

15831086

1 5391,022

215

234

1148

3730408.4

1728

37 187296981860413213

789011714752

71574892316

140110415

2599

3989323319371387

926139558

827562561.71350

222

24004165

6,51517,489

8,12511 2794600

19670

152815241115

15941 142

1 510994

21 0

243

115 1

117311521197

3757410.0

38015304791883213317

837512555139

7897 5362307

130120347

2725

3983325.719311387

950143578

897262481.61.442

218

23914174

5,93817,977

8,358109194637

17 323

1438143 61007

15831 109

1 5141,014

220

234

115 1

3776413.6

38327301351840813267

852314025153

7518 1922358

139142504

2833

4054327119481400

945153565

857822531.71.760

231

22038160

5,86716,170

8,047101583832

20656

152315201091

16791211

1 501983

217

240

115 1

117911581202

3780414.8

1719

37 194299791808213005

845812695145

79272152151

127103334

2732

40083259194 51407

939140569

86749

2461.51240

244

22492164

6,25816,235

8,57310 1243795

18 713

1391139 1966

1 5381 105

1 453962

222

234

1143

3802415.1

35 1912883317 07612431

84971 2735 178

75963582056

123105423

1 988

4071331519561423

977145594

907562481.5135 i

234

17 930157

4,37713,553

6,96782292734

17 829

11891188793

1 6611 129

1 459971

170

228

1149

118 1116 11207

3796414.6

31 57926 11814 53110540

7 95212744598

83854612034

128110407

1 361

4109331619581428

95214 1558

997922651.51.349

253

17 626157

4,69812,928

6,6467 8273 153

25 375

854854612

13991035

1372957

143

227

1143

416.9

1728

2630721852126699470

676610033956

50544541787

122106348

1 001

3953321619521408

911135536

807372441.51342

248

14523145

3,91910,604

5,35466102560

28423

78278255.8

13821016

1248918

130

200

1149

118511621201

3818416.1

2577621382120238788

6813993

4012

60243941799

101104273991

39253178192 11380

905135536

8374725.31.21.23 3

253

16247'159

4,22312,024

5,3867 8463016

28 172

90.390264.0

15191,102

14291,003

152

208

1157

382.0416.4

29 13223,9501395710253

7,2051,0534,233

67251812049

130117351

1 283

4036324.319561392

937145548

807932681.61.442

270

21708154

5,56216,145

6,957108983852

31 547

129.01288

99.9

1,5291,172

1,4761,030

188

212

1161

119.611771218

383.5417.5

2018

r31 222r25,39615 03610 889

7,6161,2014,523

r542r5826r2112

123118

r3681 677

r3992r320.019171384

r945152r560

r68r792r26.5

1.51.444

r273

20510144

5,31115,199

6,438103263746

21 094

153.41532106.1

1,5841,093

1,449960

188

213

1156

384.2418.0

r34 558r27,71916 47511 760

r8,2011,318r4,891

663r6839r2301

123111356

r2 288

r402.3r322.518991375

r968158r57.4

78T79 7r27.6

1.51.343

r25 3

23 013157

6,46816,545

6,826110045182

23321

140.31402104.0

1,3931,004

1,436982

20.0

216

1162

120.01183122.3

384.4418.3

3680529,2821757112604

8,4561,4184,897

75232,447

131128386

2754

402.8324.218811372

99.216757.3

78627.51.61.546

24.9

25461165

7,75617,705

8,567118885006

148.9148.8113.2

1,4541,089

1,4931,002

21.7

230

116.4

384.0421.3

:::::::::::::::

138.3138.1101.5

1,4891,080

1,413993

120.6118.9122.9

2 384.6'421.9

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 98: SCB_081988

S-8 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and .. ..methodological notes are as shown in unils

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

CONSTRUCTION AND REAL ESTATE—Continued

REAL ESTATE <)Mortgage applications for new home construction:

FHA applications thous. units.,Seasonally adjusted annual rates do...

Requests for VA appraisals do-Seasonally adjusted annual rates do...

Home mortgages insured or guaranteed by:Fed. Hous. Adm.: Face amount mil. $.Vet. Adm.: Face amount § do...

Federal Home Loan Banks, outstanding advancesto member institutions, end of

period mil. $.New mortgage loans of FSLIC-insured

institutions, estimated total © mil. $.By purpose of loan:

Home construction do...Home purchase do...All other purposes do...

325.5

244.6

108,645

265,513

28,825195,51341,169

165.3

193.4

57,108.02 81,880.5124,721.62 33,322.54

133,054

253,407

28,410190,748r34,247

14.216217.7189

7,566.473,424.22

114,335

27,727

2,98321,3363,412

13.815818.8212

7,341.312,978.52

115,321

23,609

2,832

10.1117

14.4168

8,901.722,819.12

116,846

20,509

2,57915,4372,494

10.111414.6180

6,179.54

120,090

20,587

2,58514,8973,104

7.810013.8182

4,816.082,182.60

124,775

20,327

2,47415,0142,840

5.8

11.0201

4,092.541,882.55

127,056

16,875

2,08212,483

2,310

6.595

190

1,511.22

21,524

2,459r!4,543'4,522

7.410810.5194

4,452.921,143.23

130,911

13,077

1,5469,3722,159

8.310113.5163

3,350.771,503.09

129,582

13,658

1,757'9,4352,466

10.810315.6154

2,926.841,381.52

129,503

18,364

2,56212,817

2,985

10212.5140

2,508.441,038.50

130,238

19,070

2,61413,787

r2,670

10.511219.9216

3,545.401,163.94

132,118

'21,226

'2,60815,929

r2,690

15.3163

3,006.041,209.49

134,832

24,791

2,74418,5643,483

8.1104

4,383.241,287.15

135,759

DOMESTIC TRADE

ADVERTISINGMagazine advertising (Leading National

Advertisers):Cost total mil $

Apparel and accessories . . doAutomotive, incl. accessories . . do

Drugs and toiletries doFoods, soft drinks, confection-

erv doBeer, wine, liquors doHoushold equip., supplies, fur-

nishings doIndustrial materials doSoaps cleansers etc doSmoking materials doAll other. do

Newspaper advertising expenditures (NewspaperAdvertising Bureau, Inc.):

Total mil $Classified do

Retail do

WHOLESALE TRADE tMerchant wholesalers sales (unadj.),

total mil $Durable goods establishments do....

Merchant wholesalers inventories, book value(non-LIFO basis),

Du able coods e t blish'ments dNondurable goods establishments do

RETAIL TRADE tAll retail stores:

Estimated sales (unadj.), total mil. $.,Durable goods stores # do

Building materials, hardware, gardensupply, and mobile home dealers mil. $..

Automotive dealers doFurniture, home furnishings,

and equipment do....Nondurable goods stores do....

General merch. group stores do....Food stores doGasoline service stations do....Apparel and accessory stores do....Eating and drinking places do....Drug and proprietary stores do....

Estimated sales (seas adj ) total doDurable goods stores # do...

Bldg. materials, hardware, garden sup-ply, and mobile home dealers* mil. $.Building materials and

supply stores do...Hardware stores do

Automotive dealers doMotor vehicle and miscellaneous

auto dealers doAuto and home supply

stores doFurniture, home furnishings,

and equipment # . doFurniture, home furnish-

ings stores do ..Household appliance, radio, and

TV stores . . .... do

2698993033376

14311

1 392 313681,177711 136

153 571100 21253359

1,437,497538 618

75,842320 336

80,347898,879165,074301 76297,27774,765

135,30851,63119635

29412106913494

15227

1 520 827739,277781 550

165 819107 25758562

1,510 579559 105

78,005326 850

84,148951,474175,885314 287103,15479,069

147,64556,00019506

2396907292

1 197

130 27564,88765 388

158 425105 70352722

128 98750834

7,37231 122

6,78978,15313,577264199,0156,115

12,8304,5931 600

126 461r46,976

'6,424

'4,808'1 125

'27753

'25 532

'2221

'6962

3,701

'2808

••'

2274911250

1 114

127 65362,58665 067

157 211105 05252 159

129,25850037

7,23430477

6,99779,22112,883276589,3775,894

13,1974,5821 705

'127 037'47,403

6,455

'4,8251 163

'27 969

'25 710

'2,259

'7117

'3,755

'2903

2494993272

1 229

126,50061,83764 663

154 651103 38251 269

131 53650627

7,08030918

7,11680,90914,555267079,3486,823

13,2904,5821 635

129 98149,614

6,496

4,9231 148

30175

27849

2,326

7146

3,708

2958

2469919309

1 241

132 11065,22666 884

158 624104 72953895

124 51547675

6,89028512

6,92976,84013,268258678,8456,403

12,2234,4681 562

127 81547,948

6,569

4,9691 177

28,465

26159

2,306

7054

3,723

2881

2658969319

1370

137,62169,00568 616

163 892107 15056742

128,29846755

7,17227 028

7,07581,54314,82626,8959,0126,748

12,6994,7331 653

126 80846,889

6,615

4,9291238

27,673

25344

2,329

6940

3,701

2,775

2828893334

1600

126,89661,09665 800

164 406106 31458092

126,89744732

6,35924,517

7,39982,16517,53325,4318,5957,132

11,9364,6401 638

127 24847,067

6,605

4,9651208

27,499

25,194

2,305

6,979

3,671

2,846

2507717240

1549

132,74762,72570 022

165 819107 25758,562

157,18953526

6,21525,618

9,729103,66328,13228,2878,817

11,11212,5746,3422314

128,61548,000

6,582

4,8441,204

28,220

25877

2,343

6,944

3,616

2849

2165845284

1036

118,75254,94463808

168 783109 66259,121

113,63941293

4,85224,942

6,57772,34610,31825,6828,3165,103

11,5184,6191 443

128 76948,689

6,558

4,8411 152

28,935

26528

2,407

7,194

3,744

2963

2173841269

1064

124,98759,32765660

171 742111 92059,822

115,10144,126

5,21427,422

6,45770,97510,66224,6938,0184,952

11,3474,6421 348

130,12149,708

6,817

5,0451,196

29,523

27,038

2,485

7,348

3,797

3,071

142,14869,18472964

173 184113 88859,296

131,58951,327

6,59032,144

7,20880,26213,74326,9688,7086,640

12,5374,9871462

132,25950,480

6,987

5,1881,240

29,895

27,401

2,494

7,513

3,892

3,155

131,78766,37865 409

174 543115 59758,946

130,88451,170

7,39831,240

7,10679,71413,81426,7628,8176,449

12,8744,8501529

131,71750,419

7,057

5,2591,285

29,569

27,112

2,457

7,655

3,941

3,224

136,044'67,242'68 802

'171 978'114 132'57,846

135,959'53,467

'8,119'32,342

'7,269'82,49214,707'27,620'9,248'6,516

13,279'4,9601598

132,833'50,418

'7,087

'5,3291,268

'29,488

'27,022

'2,466

'7,720

'3,935

'3,278

141,63970,28471 355

174 133113 62260,511

137,181'55,216

'8,018'33,569

'7,657'81,96514,355'27,821'9,372'6,371

13,522'4,9281,612

'133 387'50,727

'7,023

5,3001,268

'29,592

'27,075

2,517

'7,865

4,010

3,339

133,9961 51,867

'7,4411 31,271

'7,619'82,129' 13,352'28,882'9,513'6,180

'13,847'4,741

' 134,019'51,062

'6,896

'30,149

'27,680

'7,790

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 99: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-9Unless otherwise stated in footnotes

below, data through 1986 and IT ..methodological notes are as shown in ljnils

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

DOMESTIC TRADE—Continued

RETAIL TRADE t— ContinuedAll retail stores— Continued

Estimated sales (seas, adj.)— ContinuedNondurable goods stores mil $

General merch. group stores doDepartment stores excluding

leased departments do....Variety stores do

Food stores do....Grocery stores do....

Gasoline service stations do....Apparel and accessory stores # do....

Men's and boys' clothing andfurnishings stores do

Women's clothing, specialty stores,and furriers . . . do

Shoe stores... . . . . . doEating and drinking places . doDrug and proprietary stores do....Liquor stores do

Estimated inventories, end of period:Book value (non-LIFO basis),

(unadjusted) total mil $Durable goods stores $ do

Bldg. materials, hardware, garden sup-ply, and mobile home dealers do ..

Automotive dealers doFurniture, home furnishings,

and equipment do....Nondurable goods stores # do

General merch group stores doDepartment stores excluding

leased departments doFood stores . d oApparel and accessory

stores doBook value (non-LIFO basis),

(seas, adj.), total doDurable goods stores # do

Bldg. materials, hardware, garden sup-ply, and mobile home dealers do

Automotive dealers doFurniture, home furn.,

and equip doNondurable goods stores # do

General merch. group stores doDepartment stores excluding

leased departments..... ..do ....Food stores doApparel and accessory

stores doFirms with 11 or more stores:

Estimated sales (unadj ), total mil $Durable goods stores do

Auto and home supply stores do...Nondurable goods stores $ do

General merchandise groupstores do

Food stores doGrocery stores do

Apparel and accessory stores.. doEating places doDrug stores and proprietary

stores.... doEstimated sales(sea adj.), total* do

Auto and home supply stores.. doDepartment stores excluding

leased departments doVariety stores doGrocery stores doApparel and accessory stores... do

Women's clothing, specialty stores,and furriers do

Shoe stores doDrug stores and proprietary

stores do....

180 53089850

13 33945529

15,1999068031 280

2455920,044

14625

185 99691,085

13 99745267

152609491134405

26,87019 803

15760

534 14859 7896744

474 359

153 110171 121168 3433900234976

30030

205 138106 689

1450357740

16,8819844933401

2603220581

17471

211 100107 948

1523457312

16932103 15236742

28,48120334

18827

569 08167 6657 185

501 436

162 289179 635176 9184240537 486

32868

r79 48514 566

12,081r688

r26,391r24,865

r8,610r6,589

r761r26081 21412278r4,6581613

199 007102 192

15 35954377

15,4699681533820

2635920,363

17 035

200 424100 716

15 16252620

155479970835271

27,51520439

17800

456655510

63440 155

124901476914 55932533228

266047 239

608

11 704548

147963541

1 430745

2,737

r79 63414 495

12 134r687

r26,27124,711r8780'6,644

r761r26011220

12 242r4,6901621

199 470100 428

1505452574

15,5679904235 145

2739220211

17755

202 210101 590

14 96453384

15852100 62035796

28,06620531

17971

459135494

63940 419

11 792156631545130933365

264447 417

600

11 791554

148003 576

1 428'742

2,734

8036714788

12,309700

26,55424,9968,9456,667

760

26491233

122834,7091625

197 39096205

1511947907

15,818101 18536017

2808020,060

18881

202 684101 569

1507453292

15946101 11535743

28,05220536

18420

478175667

63642 160

134241501014*80637663405

265248081

611

11 916568

150623 564

1 443754

2,743

7986714580

12,166692

26,34124,7918,8726,680

762

26201 205

122844,7681629

201 51896303

14,75947,014

16,578105 21538049

29,68320,151

19705

203 708102,394

1486353755

16 414101 31435800

28,08220318

18625

45 2015444

61539 757

12222146141441634253 052

256647 623

602

ll 787561

147403570

1 424749

2,771

7991914742

12322698

26,3092477488016,637

774

26031188

123534,7861637

215 174104 172

1460252627

17,554111 00241383

3248220773

20554

206 577104 846

1467555680

16670101 73136241

28,56820253

18584

48 5175663

64242 864

13642155351532335983 217

268448 015

586

11 968568

149643597

1 454*721

2,773

8018114805

12,403700

26,25924,7398,7616,594

722

25781209

126044,8031651

219 614108 022

1454555868

17,707111 59241587

3273421 113

20925

208 260106 490

1487256703

16 673101 77036259

28,39020 188

18817

509986223

59644 775

16271147001448939462970

273048070

579

12 031565

149223 554

1 412734

2,814

8061515035

12548711

2630924,7878,6876,708

777

25971276

127914,7541642

205 138106 689

1450357740

168819844933401

2603220581

17471

211 100107 948

15 23457312

16932103 15236742

28,48120334

18827

702389494'618

60 744

2626416 58016 19962773 106

403748 404

588

12 182569

149023 553

1 414751

2,769

8008014953

12,526693

26,16924,6228,7546,514

783

25821175

125474,8321589

202 712105 297

1483456313

16,5989741533361

26 15620420

16933

209824106 377

1535655500

17 006103 44737 145

29,19220467

18710

41 1614661

51336510

9510150641486225372918

272448 504

614

12 128544

149223 531

1 420720

2,904

8041314,650

12,252693

26,61225,0728,7156,537

767

26061 163

12 6364,8911578

206 349106 051

1537556403

16,537100 29835 191

27,58120,482

17997

208 698104,479

1549953307

17 101104 21937 500

29,40420 665

18904

405834674

48935909

984514 2571404225062891

269648288

614

11 853532

150503492

1 402712

2,911

81,77914,911

12,468691

27,03625,5078,9966,689

768

26051227

126644,9771586

211 109107 493

1603056236

17,283103 61637053

2898220,904

18739

208 822103 631

1560951 905

17618105 19137 976

29,66420951

18871

47 5745563

62842011

12722155591533436133 159

293048895

634

12075545

15 1823579

1 390774

2,945

81,29814,787

12,399670

26,86925,3098,8796,621

751

26241200

126594,9851616

r212 578108 039

15,975r56,034

17,655104 539

r37 956r29,857r20,788

18 727

r209 550104,349

15435r52 575

17 797105 201

r37 905r29,649r20 957

18 783

r47 340r5809

r641r41 531

12 7351541315 182

r3417r3217r2805

r48 831r624

11 951'519

15 167r3566

1400r751

'2,937

r82,41514,952

12,512r670

r27,451r25,833

r8,979r6,737

r742r26731226

12 744r5,0001 634

211 636108 413

1570756,211

17,786103 22337100

29,20220,809

18435

211 272105,995

15 17653976

18002105 27737823

29,58721 051

18850

48 8176 115

65142702

1357115 4761526034873266

2,90949 112

630

11 996517

153063657

1 431779

2,959

r82,66015,164

12,709680

r27,404r25,771

r8,986r6,829

747

2,7121244

12 841r4,9831,615

1 82,95715,1941 12,798

' 27,5691 25,934

1 8,9661 6,936

1 12,8691 4,933

LABOR FORCE, EMPLOYMENT, AND EARNINGS

LABOR FORCE AND POPULATION

Not Seasonally AdjustedNoninstitutional population, persons 16

years of age and over thous ..Labor force @ . d o

Resident Armed Forces.... do....Civilian noninstitutional population do....

Civilian labor force, total do....Employed do ....Unemployed do ....

Seasonally Adjusted 0Civilian labor force, total do

Participation rate t • percent..Employed, total thous..

Employment-population ratio t percent ..Agriculture thous ..Nonagriculture .........do....

Unemployed, total .....do ....Long term, 15 weeks and

over do. ..

182,293119 540

1,706180,587117,834109,597

8,237

65.3

60.73,163

106,434

2,232

184,490121 602

1,737182,753119,865112,440

7,425

65.6

61.53,208

109,232

1983

184,421122 871

1,718182,703121,153113,498

7,655

119 60865.5

112,30061.5

3,192109,108

7,308

2,029

184,605123 825

1,720182,885122,105114,652

7,453

119 89065.6

112,63961.6

3,212109,427

7,251

1,920

184,738123 350

1,736183,002121,614114,527

7,088

120 30665.7

113,05061.8

3,143109,907

7,256

1,896

184,904121 627

1,743183,161119,884113,027

6,857

119 96365.5

112,87261.6

3,184109,688

7,091

1,904

185,052122 485

1,741183,311120,744113,898

6,845

120 38765.7

113,21061.8

3,249109,961

7,177

1801

185,225122 366

1,755183,470120,611113,809

6,802

120 59465.7

113,50461.9

3,172110,332

7,090

1,834

185,370121 956

1,750183,620120,206113,679

6,526

120 72265.7

113,74461.9

3215110 529

6,978

1791

185,571121 491

1,749183,822119,742112,139

7,603

121 17565.9

114,12962.1

3293110,836

7,046

1733

185,705121 678

1,736183,969119,942112,460

7,482

121 34866.0

114,40962.2

3,228111,182

6,938

1,740

185,847121 693

1,736184,111119,957112,867

7,090

120 90365.7

114,10362.0

3,204110,899

6,801

1722

185,964121 996

1,732184,232120,264113,905

6,359

121 32365.9

114,71362.3

3,228111,485

6,610

1,540

186,088122 489

1,714184,374120,775114,222

6,553

120 97865.6

114,19561.9

3,035111,160

6,783

1609

186,247124 713

1,685184,562123,028116,209

6,819

121 47265.8

115,01862.3

3,085111,933

6,455

1,512

186,402125 561

1,673184,729123,888117,066

6,823

121,68465.9

115,05962.3

3,046112,014

6,625

1,629

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 100: SCB_081988

S-10 SURVEY OF CURRENT BUSINESS August 1988

Unless otherwise stated in footnotesbelow, data through 1986 and ,T u

methodological notes are as shown in vmw

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued

LABOR FORCE-Continued

Seasonally Adjusted 0Civilian labor force— Continued

Unemployed— ContinuedRates(unemployed in each group as percent

of civilian labor force in the group):All civilian workers

Men, 20 years and overWomen, 20 years and overBoth sexes 16-19 yearsWhite.. . .Black . . .Hispanic origin ..Married men, spouse presentMarried women, spouse presentWomen who maintain families

Industry of last job:Private nonagricultural wage and

salary workersConstructionManufacturing

Durable goodsAgricultural wage and salary workers ....

Not Seasonally AdjustedOccupation:

Managerial and professional specialtyTechnical, sales, and administrative

supportService occupationsPrecision production, craft, and repair....Operators, fabricators, and laborersFarming, forestry, and fishing

EMPLOYMENT §Employees on payrolls of nonagricultural estab.:

Total, not adjusted for seas, variation thous..Private sector (excl. government) do ....

Seasonally AdjustedTotal employees, nonagricultural

payrolls . . doPrivate sector (excl. government) do....

Nonmanufacturing industries do . . . .Goods-producing do....

Mining doConstruction doManufacturing do

Durable goods doLumber and wood products do....Furniture and fixtures do....Stone, clay and glass products do....Primary metal industries do ....Fabricated metal products do....Machinery, except electrical do ....Electric and electronic equip do ....Transportation equipment do....Instruments and related

products do.Miscellaneous manufacturing do ....

Nondurable goods doFood and kindred products do....Tobacco manufactures doTextile mill products doApparel and other textile

products .. .. . doPaper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products do ....Rubber and plastics prod-

ucts, nee ... .. . doLeather and leather products do....

Service-producing doTransportation and public utilities do ...Wholesale trade do...Retail trade doFinance, insurance, and real

estate doServices .... ... .. . doGovernment do.

Federal doState doLocal do

Production or nonsupervisory workers on privatenonagric. payrolls, not seas, adjusted thous.Manufacturing do

Seasonally AdjustedProduction or nonsupervisory workers on private

nonagricultural payrolls thous.Goods-producing do

Mining do...Construction do...Manufacturing do

Durable goods do...Lumber and wood products do...Furniture and fixtures do...Stone, clay, and glass

products doPrimary metal industries do...Fabricated metal products do...Machinery, except electrical do . . .Electric and electronic equip do ...Transportation equipment do...Instruments and related

products doMiscellaneous manufacturing do . .

70616.2

18360

145106445298

70131716.9

12.5

2.4

47867.2

10.97.8

99,52582,832

9952582,83263,86724,558

7774816

1896511230

710498585752

1,4232,0532,1162,025

706361

77341,609

59703

1 101674

1,4591,022

169

790149

749675,2555,753

17930

62832305316,693289938939901

67,01812877

67,01817197

5453,775

128777,426

597398

450566

1,0521,2211,2271,272

382262

6.25.45.4

16953

1308839439.2

6211.66.05.8

10.5

2.3

43776.19.47.1

102,31085,295

102 31085,29566,23024,784

7214998

1906511218

740518582749

1,4072,0232,0842,048

696370

78471,624

54725

1 100679

1,5071,026

165

823144

77 5255,3855,872

18509

65492419617,01529433963

10 109

69,03912995

69,03917412

5153,902

129957,453

619415

450564

1,0441,1991,2221,291

379270

615.55.3

16053

12886404095

6111.75.75.49.3

2.4

45795.98.45.1

102,91085,861

102 07885,09466,11224,684

7194983

1898211166

736516580746

1,4002,0132,0662,047

694368

78161,621

55724

1098677

1,5051,014

165

815142

77 3945,3635,860

18481

65532415316,98429393946

10099

69,59313024

68,89017334

5123,883

129397,417

616413

448561

1,0381,1921,2111,293

376269

6.05.45.4

15852

12781384.29.3

6.110.86.06.0

10.9

2.5

43755.48.95.6

102,21286,057

102 43085,42166,35224,788

7224997

1906911190

740524579751

1,4042,0202,0752,032

695370

78791,629

55730

1 116678

1,5101,025

165

824147

77 6425,3735,874

18543

65702427317,00929413965

10 103

69,70612893

69,15517,417

5173,894

130067,432

619420

448565

1,0401,1971,2211,274

378270

6.05.25.3

16252

12481374.39.0

6.011.35.65.5

10.6

2.4

44765.28.15.7

102,47186,478

102,67285,65666,54524,851

7285012

19 11111246

739524580755

1,4052,0312,0812,063

696372

78651,625

54728

1 098680

1,5141,029

165

827145

778215,3945,892

18569

65812436917,01629433971

10 102

70,08513098

69,34317,468

5223,908

130387,483

617419

448571

1,0431,2071,2241,305

37827

5.95.05.4

16451

12.3823.74.28.8

5.911.95.65.48.6

2.4

4.47.55.17.85.8

103,28886,556

102,90685,85166,69524,902

7345012

1915611,269

744526580761

1,4122,0392,0852,052

696374

78871,627

53730

1 104682

1,5181,032

166

830145

780045,4275,914

18605

658824,41517,05529623973

10120

70,13513 240

69,46317,506

528o one

130757,499

621420

449577

1,0501,2131,2251,292

380272

6.05.15.2

17252

1218.33.74.28.9

5.911.25.75.2

10.6

2.2

4.27.34.98.36.8

104,21086,855

103,37186,24167,01625,025

7405060

1922511315

744529583766

1,4212,0492,0942,052

700377

79101,630

52731

1 106682

1,5221,036

167

839145

783465,4485,935

18705

660424,52417,13029663985

10 179

70,36913226

69,76617,601

5343,949

13 1187,532

621424

451580

1,0551,2211,2331,290

383274

5.95.05.2

1665.1

12.29.03.54.28.5

5.810.65.34.8

11.1

2.0

4.17.55.28.38.4

104,54887,034

103,67886,52067,22325,123

7365090

1929711,355

750531585768

1,4292,0622,1002,047

704379

79421,636

54733

1 110683

1,5281,041

167

845145

785555,4665,958

18761

66082460417,15829743988

10196

70,52313256

69,98817,678

5313,972

13 1757,564

627425

453584

1,0631,2301,2351,285

385277

5.84.95.2

1614.9

12.28.13.44.38.4

5.710.65.14.8

10.9

2.1

3.67.05.28.78.7

104,80987,318

104,00186,79467,44625,201

7355118

19,34811,390

754533588769

1,4332,0742,1102,046

704379

7,9581,638

54733

1,106684

1,5321,047

167

851146

788005,4815,984

18784

661924,72517,20729804001

10226

70,76713239

70,23417,743

5303,998

132157,590

630427

457584

1,0681,2381,241,283

385277

5.85.15.1

16.05.0

12.27.23.64.28.9

5.812.25.65.5

11.5

2.1

4.47.76.9

10.410.3

102,80285,593

104,26287,044

' 67,67525,180

7285,083

19,36911,393

754536583768

1,4352,0852,1122,036

704380

7,9761,647

55732

1,105685

1,5381,047

166

854147

790825,4996,010

18,927

663324,79517,21829734006

10239

69,02813101

70,40517,698

5243,949

132257,582

629428

453583

1,0681,2441,2401,273

387277

5.74.95.2

15.44.8

12.68.33.44.18.3

5.711.05.65.9

10.2

2.0

4.18.06.9

10.39.5

103,37385,844

104,72987,47568,08525,271

7315,150

19,39011,404

756535584770

1,4382,0912,1122,031

705382

7,9861,649

54732

1,104686

1,5441,049

165

856147

79,4585,5136,035

19,045

6,63624,97517,25429724,014

10,268

69,23913 136

70,78717,798

5274,022

13 2497,599

631427

454586

1,0711,2501,2411,271

388280

5.64.94.8

16.54.7

12.88.23.44.07.5

5.610.75.25.2

11.0

1.6

4.17.06.89.88.6

104,16186,490

105,02087,70068,29525,330

7335,192

19,40511,411

755534585772

1,4392,0992,1152,025

705382

7,9941,647

54729

1,106687

1,5481,052

164

860147

79,6905,5306,061

19,050

6,65125,07817,3202,9704,031

10,319

69,79713,165

70,96117,839

5294,059

13 2517,598

631426

455588

1,0711,2561,2421,261

388280

5.44.64.8

15.94.6

12.29.33.03.88.7

5.310.65.34.8

10.6

1.7

3.56.45.38.66.3

105,15987,505

105,28187,97368,51325,435

7375,238

19,46011,459

758535587773

1,4442,1112,1172,045

706383

8,0011,648

54727

1,100687

1,5541,056

165

864146

79,8465,5436,089

19,093

6,65025,16317,3082,9634,041

10,304

70,71713,213

71,17017,909

5334,096

13,2807,632

633427

457591

1,0731,2621,2441,276

389280

5.64.94.9

15.64,7

12.49.03.33.98.4

5.710.55.44.9

13.9

1.7

4.16.85.18.36.1

r!05,956'88,268

'105,489'88,139'68,649'25,466

r739'5,237

19,490'11,477

'757537585

'7761,448

'2,1212,115

'2,048

709381

'8,013'1,643

52728

1,100689

'1,559'1,060

166

870146

'80,023'5,556'6,115

'19,130

'6,656'25,216'17,350'2,957'4,050

'10,343

'71,379'13,271

'71,260'17,925

'535'4,088

'13,302'7,649

632'429

455594

1,079'1,269'1,244'1,278

391278

5.34.64.9

13.64.5

11.59.03.13.77.8

5.410.24.84.49.7

2.0

4.07.04.87.25.0

'106,882'89,459

'106,021'88,661'69,116'25,590

'740'5,305

'19,545'11,514

'758'537'587781

1,456'2,135'2,120'2,046

'712'382

'8,031'1,648

53'727

'1,096'691

1,564'1,066

'166

'874'146

'80,431'5,578'6,145

'19,213

'6,676'25,459'17,360'2,951'4,030

'10,379

'72,421'13,425

'71,710'18,024

'535'4,148

'13,341'7!677

'633'429

'457'600

'1,08'1,27'1,24'1,27

'39'27

5.44.55.1

15.24.7

11.48.03.04.18.6

5.410.25.25.0

10.8

2.3

4.17.04.67.36.0

"106,098"89,607

"106,304"88,929"69,316"25,672

"740"5,319

"19,613"11,573

"755"543"588"790

"1,463"2,159"2,126"2,050

"713"386

"8,040"1,645

"53"728

"1,089"691

"1,568"1,071

"167

"884"144

"80,632"5,593"6,169

"19,295

"6,678"25,522"17,375"2,947"4,049

"10,379

"72,512"13,289

"71,932"18,099

'"534"4,159

"13,406"7,740

"627"435

"459"607

"1,094"1,295"1,263"1,282

"396"282

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 101: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-llUnless otherwise stated in footnotes

below, data through 1986 and ....methodological notes are as shown in vnm

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

EMPLOYMENT §— Continued

Seasonally AdjustedProduction or nonsupervisory workers — Contin-

uedNondurable goods thous

Food and kindred products.. . doTobacco manufactures do.Textile mill products do....Apparel and other textile

products . . . doPaper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products do ....Rubber and plastics prod-

ucts, nee do....Leather and leather products do....

Service-producing doTransportation and public utilities do....Wholesale trade doRetail trade doFinance, insurance, and real

estate doServices do

AVERAGE HOURS PER WEEK §

Seasonally AdjustedAvg. weekly hours per worker on private nonag.

payrolls: QNot seasonally adjusted hours..Seasonally adjusted do

Mining $ doConstruction $ .doManufacturing:

Not seasonally adjusted do....Seasonally adjusted do ....

Overtime hours do ....Durable goods . do

Overtime hours doLumber and wood products do....Furniture and fixtures do....Stone, clay, and glass products do ....Primary metal industries do ....Fabricated metal products do....Machinery, except electrical do....Electric and electronic

equip. doTransportation equipment.. doInstruments and related

products doMiscellaneous manufacturing do....

Nondurable goods doOvertime hours do

Food and kindred products doTobacco manufactures $ doTextile mill products do....Apparel and other textile

products doPaper and allied products do....Printing and publishing...... do ....Chemicals and allied products .do....Petroleum and coal products $ do....Rubber and plastics prod-

ucts, nee doLeather and leather products do....

Transportation and public utilities do-Wholesale trade doRetail trade . doFinance, insurance, and real

estate $ doServices do

AGGREGATE EMPLOYEE-HOURS §

Seasonally AdjustedEmployee-hours, wage & salary workers in non-

agric. establish, for 1 week in the month,seas adj. at annual rate bil. hours.

Total private sector doMining doConstruction do ...Manufacturing do....Transportation and public utilities do....Wholesale trade do. ..Retail trade .. do....Finance, insurance, and real

estate do...Services do

Government doIndexes of employee-hours (aggregate weekly): Q

Private nonagric. payrolls, total 1977=100..Goods-producing do ....

Mining do ...Construction do ...Manufacturing do

Durable goods ,,,,,,, doNondurable goods do

Service-producing doTransportation and public

utilities doWholesale trade do ...Retail trade. . doFinance, insurance, and real

estate do...Services do ...

5,4501,131

44608

927511817568106

615123

498224,3454615

15969

4,64520,248

34.8

42.237.4

40.7

3.441335

40.339.842.241.941.341.6

410423

41 039.639933

40037.441.1

36743.238.041.943.8

41336.939.2383292

364325

185.21151 97

1719.37

40.1510.7411.4627.23

11.9339393325

117.397.485.9

128.1920902947

128.3

1064117.61185

136.8145.7

55431,149

41629

924516842576108

639120

516284,4644704

16454

480721 198

34.8

424378

41.0

3.741538

40.640.042.343.141.542.2

409420

41 439.440236

40239041.8

37043.438.042.3440

41638.239238 1292

363325

190 0915647

159982

40.5910.99116528.10

12.3741 353362

120.999.281.3

133.5934909971

1328

1093119.31225

140.9152.4

55221148

41628

923514840569108

632119

515564,4504695

16433

4,81521,163

35.034.742.338.1

41.141.03.7

4153.8

40.640.042.043.041.642.3

409419

41 439.440236

40141242.1

37043.438.042.2436

41738.539.038 1292

364325

1900215607

159976

40.3910.93116228.08

12.4241293395

120.598.780.8

132.793090496.7

132.5

1084118.91222

141.6152.1

5,5741,153

42635

939516842576108

639124

517384,4604706

16486

4,81921,267

35.034.842.038.6

40.641.03.8

4163.8

40.640.042.343.241.542.5

409418

41 539.540337

40137342.3

37243.538.142.2449

41638.439338 1293

362325

190.6915675

1599.81

40.5811.0111.6328.26

12.3941 483394

121.199.381.9

133.093690.797.8

133.2

1095119.2123.0

141.4152.9

5,5551,149

41632

922516846579108

641121

518754,4774,720

16,508

4,82221,348

35.234842.738.6

40.941.03.8

4153.9

40.540.042.243.341.542.3

409418

41 639.740337

40237842.0

37243.438.142.4436

41638.9393382294

364325

191.4015750

1639.85

40.6811.0711.7028.40

12.4841693390

121.699.682.9

133.993891397.5

133.8

1099119.8123.6

141.8153.5

5,5761,151

39634

927520849582109

644121

51,9574,5024,736

16,520

4,82121,378

34.734.642.336.5

40.840.63.7

41.03.7

39.639.542.043.240.941.7

404414

41 038.940 136

40240141.4

36443.738.142.5440

41337.8391380295

360325

188.46157 10

1629.28

40.8111.0411.7228.46

12.4541723136

121.198.082.7

127.093290.397.3

133.9

1100119.6124.1

140.6153.7

5,5861,153

39634

929518851582109

650121

52,1654,5174,752

16,610

4,82221,464

34.934.942.938.8

41.341.23.9

4184.0

40.440.142.543.641.942.6

410424

41 939.540438

40441441.8

37343.638.142.5440

41838.8393382292

362326

192.7615863

166100941.1011.17118128.44

12.4341 9534 14

122.5101.0

85.0136.794892598.3

134.3

1109120.7123.5

141.1154.8

5,6111,159

40636

932518856585109

655121

52,3104,5334,777

16,651

4,81821,531

34.834.842.637.1

41.441.23.9

41.84.0

40.740.242.443.542.142.7

41042.3

41 4on ooy.z

40337

40440.941.6

371

43.538.042.544.1

41838.3

39.2382292

363326

192.9915897

16310.0341.2311.2011.8228.48

12.4942103402

122.8101.2

84.1136.495192.998.5

134.7

1110121.3123.8

141.3155.3

5,6251,161

41636

930519858589109

661121

52,4914,5454,802

16,671

4,82421,649

34.834.643.137.6

41.841.03.8

41.53.9

40.439.842.543.441.742.6

40.941.5

41239.2

40337

40.540.541.5

371

43.338.042.544.5

41638.0

39.1380288

360325

193.2215875

16210.1341.2011.1711.8328.24

12.4042 153447

122.5101.3

84.0137.795092.598.7

134.2

1110121.3122.2

139.6155.6

5,6431,169

42636

929520863589109

664122

52,7074,5604,825

16,795

4,83121,696

34.434.742.135.9

41.041.13.9

41.64.0

40.239.642.043.441.842.7

41.142.0

41839.1

40.33.8

40.639.241.5

368

43.438.142.544.2

41738.0

39.5381290

362326

193.5615925

1579.76

41.2811.2611.9028.60

12.5042393431

123.0100.5

81.7132.195292.799.0

135.5

1126122.2124.0

141.3156.5

5,6501,172

41636

928521867589108

122

52,9894,5744,848

16,902

4,82721,838

34.534.841.836.1

40.741.03.7

41.53.8

40.339.542.343.141.642.6

40.942.0

41.339.3

40.23.6

40.338.641.6

37.0

43.338.142.443.3

41.637.8

39.1382291

36.432.7

195.0516050

1.5710.0141.2911.2512.0028.84

12.58429734.54

123.9101.1

82.5136.0

95.292.799.0

136.4

111.8123.1125.2

141.6158.0

5,6531,168

41634

930521870592107

669121

53,1224,5874,881

16,897

4,82521,932

34.434.641.937.4

40.940.93.7

41.53.8

40.139.342.343.341.642.5

40.942.1

41.439.2

40.13.6

40.139.341.2

37.0

43.238.142.543.7

41.737.9

38.8381290

35.832.4

194.9216015

1.5910.2441.2911.1712.0128.72

12.38427634.77

123.6101.6

83.2139.1

95.292.798.8

135.8

111.2123.6124.8

139.6157.2

5,6481,169

40632

926520871593107

670120

53,2614,6004,902

16,949

4,82321,987

34.734.942.837.9

41.041.23.9

42.04.2

40.639.542.543.542.042.8

41.243.0

41.839.4

40.33.6

40.138.541.6

37.4

43.338.242.144.4

42.037.3

39.538.329.2

36.232.7

196.33161.56

1.6410.3141.5011.3612,1328.88

12.5443.2034.77

125.1102.7

85.9141.1

96.194.099.1

137.4

113.5124.8126.0

141.1159.0

'5,6531,164

39632

'925'521'872'596108

'676'120

53,335'4,611'4,924

'16,949

'4,828'22,023

34.634.7

'42.2'38.2

40.941.03.9

41.84.2

'40.1'39.542.3

'43.641.942.6

41.0'43.0

41.439.2

40.03.6

'40.1'39.5'40.8

36.8

43.337.7

'42.0'44.1

41.7'37.3

'39.438.029.0

'35.832.5

'196.09161.16'1.63

'10.2641.49

'11.3712.06

'28.81

'12.40'43.15'34.93

124.4102.1'84.4

'139.395.793.998.4

'136.8

'113.5'124.4125.1

'140.1'158.3

'5,664'1,169

40'630

922522875599108

679'120

'53,686'4,624'4,954

'17,033

'4,839'22,236

35.0'34.7'42.638.7

'41.2'41.1

3.9'41.8

4.1'40.2'39.3'42.4'43.6'42.042.4

'41.1'43.0

'41.4'39.4

40.13.6

40.4'39.840.6

'37.0

43.1'38.042.4

'45.0

41.636.9

39.338.0

'29.1

'35.932.5

'197.14'162.44

1.64'10.56'41.66'11.45'12.16'28.99

'12.48'43.51'34.69

'125.4'103.2'85.2

'144.096.1

'94.298.9

'137.8

'113.6'125.1'126.2

'140.4'159.9

"5,666"1,163

"40"632

"913"523"875"601"110

"690"119

"53,833"4,645"4,969

"17,097

"4,845"22,277

"35.1"34.9"42.2"38.5

"40.7"41.1"3.9

"41.7"4.0

"40.4"39.4"422"43.4"41.6"42.9

"40.8"42.7

"41.6"39.5

"40.3"3.8

"40.6"39.0"41.1

"37.2

"43.3"38.0"42.3"45.2

"41.9"37.4

"39.4"38.2"29.3

"36.2"32.7

"198.25"163.47

"1.63"10.42"41.83"11.50"12.25"29.40

"12.61"43.84"34.78

"126.3"103.4"85.2

"142.1"96.7"94.9"99.5

"139.0

"114.4"126.2"127.5

"142.1"161.1

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 102: SCB_081988

S-12 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and ,, .,methodological notes are as shown in Units

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

HOURLY AND WEEKLY EARNINGS §

Average hourly earnings per worker: QNot seasonally adjusted:

Private nonagric. payrolls. dollarsMining doConstruction doManufacturing do

Excluding overtime doDurable goods do

Excluding overtime do....Lumber and wood products doFurniture arid fixtures do....Stone, clay, and glass products do....Primary metal industries do.. .Fabricated metal products doMachinery, except electrical do....Electric and electronic

equip doTransportation equipment do....Instruments and related

products doMiscellaneous manufactur-

ing do

Nondurable goods doExcluding overtime do

Food and kindred products do....Tobacco manufactures do....Textile mill products do....Apparel and other textile

products doPaper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products do....Rubber and plastics prod-

ucts, nee doLeather and leather products do....

Transportation and public utilities do....Wholesale trade doRetail trade doFinance, insurance, and real

estate doServices do

Seasonally adjusted:Private nonagricultural payrolls dollars . .

Mining doConstruction doManufacturing doTransportation and public utilities do ....Wholesale trade doRetail trade doFinance, insurance, and real

estate doServices do..

Indexes of avg. hourly earnings, seas, adj.: ^Private nonfarm economy:

Current dollars 1977-1001977 dollars J do

Mining f J doConstruction doManufacturing do....Transportation and public utilities do . . . .Wholesale trade it doRetail trade doFinance, insurance, and real

estate ft doServices do

Hourly wages, not seasonally adjusted:Construction wages, 20 cities (ENR): §§

Common labor $ per hrSkilled labor do

Railroad wages (average class I) doAvg. weekly earnings per worker,

private nonfarm: <>Current dollars, seasonally adjusted1977 dollars, seasonally adjusted tCurrent dollars, not seasonally adjusted:

Private nonfarm, total dollars..Mining .... doConstruction doManufacturing do

Durable goods doNondurable goods do

Transportation and publicutilities do

Wholesale trade do....Retail trade do ....Finance, insurance, and real

estate doServices do ....

EMPLOYMENT COST INDEX

Civilian workers t 6/81-100Workers, by occupational group

White-collar workers doBlue-collar workers doService workers do

Workers, by industry divisionManufacturing doNonmanufacturing do

Services . doPublic administration do

HELP- WANTED ADVERTISINGSeasonally adjusted index 1967 — 100

87612461248973934

10299.878347.46

10.0411.869.88

10.57

9.6512.81

947

7 55

8958598.75

12.886.93

58411.189.99

11.9814.19

8735.92

11.70935603

836818

8.7612461248973

11.70935603

8368.18

1694950

181 41524172.2171.017251583

1798174 4

163721 461389

3048517107

304.85525814667539601424.98357 11

45864358.11176.08

30430265.85

138

89812521269991948

10439.988407.67

10.2511.94100010.70

98812.95

9.71

7759188788.94

14.037.17

59311.4310.2812.3714.59

8916.08

12.039596 11

873848

8.9812521269991

12039 59611

873848

1735940

18221549174.9176.1177 11609

1875181 1

168622 12

14 25

3125016928

312.505308547968406314328536904

47158365.38178.41

31690275.60

153

89112521266987944

10409.958437.66

10.281191998

10.68

98312.87

966

7759138748.92

15.857.13

58911.4210.1912.2814.44

8896.09

11.94954608

863837

8.95(i)1274989

12009556 10

865844

1729938

181 91554174.5175.617631606

1854180 2

1684220114 14

3105716842

311.855296048235405664336836794

46805365.38179.97

314 13273.70

1359

1393130 11385

1315137814581447

152

89012411260987945

10389.958457.66

10.3011.93993

10.67

9.8612.82

9.71

7729188788.88

15.177.13

58711.4910.2412.3714.51

8965.99

12.00956607

8638.34

8.96(i)1271988

12.039 596 12

870846

1732937

181 81549174.5176.21765161 1

1855180 9

168922 12

14 11

311 8116864

311.50521 2248636400724255836720

47520365.19182.10

31241273.55

152

89412401268986942

10399.938487.74

10.2811.93994

10.70

98812.88

974

7729148728.82

14.557.16

58811.4110.3212.3314.54

8936.04

12.06960607

874840

9.01(i)1272994

12099656 13

879853

1741937

181 4155 1175.3177.0177 3161 5

188 1182 4

1699223014 27

313 5516876

314.695294848945403274291136926

47878367.68183.31

318 14276.36

161

90512501279999953

104910.028467.74

10.371219100010.74

99413.04

976

7789308868.95

13.347.23

59911.6610.4812.5614.74

9016.13

12.119 64620

873I 854

9.02(i)1270100012079646 18

876855

1746937

18281548176.3176.8178 11623

1877182 5

17 05224114 26

3120916761

314.045287546684407594311437479

47471366.32182.90

314 28276.70

1375

141 213131399

1327139 6149 21464

158

90812421282995948

10489.998427.71

10.2712.0010.0610.79

9.9213.07

9.78

7799208788.88

13.187.24

59711.4610.4112.5014.66

8936.12

12.12965616

876861

9.07(i)1272999

12129706 16

882860

174993 6

182 11552176.1177.51783162 1

1884183 9

1705224214 23

316 5416936

316.895328249742410944380637260

47753369.60179.26

317 11279.83

162

913125412831001954

105410.048477.71

10.3012.04101010.83

99813.18

9.83

7 80

9268848.98

13.757.29

59811.4910.3912.5514.77

8986.15

12.219726 18

889871

9.10(i)1281100012.139716 17

889865

175693 8

184 11565176.4177.617961624

191 2184 9

170522431439

316 6816908

317.725342047599414414426837596

47985371.30179.22

32271283.08

162

9 13126012811007959

10 6010.098437.78

10.2912.11101910.89

100313.25

984

7 919328899.07

13.697.31

60011.5310.4312.6114.73

9046.16

12.249736 19

881873

9.11(i)1274100112169 696 19

884867

1757937

18391554176.6178.217961627

1899185 2

170522431487

3152116802

317.7254306481664209344944381 19

479 81371.69181.37

317 16282.85

1386

142213251408

134114051506148 1

155

918127712991007962

106010.138517.80

10.3512.0610.1210.85

10.0213.22

9.93

7979328929.06

13.797.34

60211.5410.3812.5514.89

9006.16

12.16978624

8968.81

9.14(i)

12.91100212.14975620

8928.72

176693 8

18521576176.8178.318041634

1929186 5

170622431475

317 1616843

315.79537 624663441287440.9637466

47424370.66176.59

32435285.44

153

917127112821005963

105810.138537.74

10.3312.0310.1310.82

10.0213.17

9.92

7909318939.06

14.017.30

60211.5010.4012.5514.96

9006.19

12.23978623

9028.81

9.13(i)

12.82100312.19972620

8.918.72

1767937

18461568177.0179.1180 51634

19421863

170722451504

3177216846

316.37531 2846280409044369537054

47575370.66177.56

328 33287.21

156

918125912871007964

105910.138457.76

10.3612.0710.1410.84

10.0413.20

9.88

7919338959.07

14.427.31

60311.5210.4512.5314.98

9006.23

12.19978624

8978.80

9.16(i)

12.90100512.21976622

8.908.75

177.093 5

18361575177.3179.418041638

19341869

17 112254

14 75

3169416743

315.79527 52481344118644054373 20

47053370.66178.46

321 13284.24

140.6

144 213471429

1368142315281503

158

923126012881012968

106510.178507.81

10.4112.1110.2210.88

10.0913.28

9.89

7929378989.14

14.987.35

6.0411.6010.4012.5715.00

9046.29

12.27988626

9.038.82

9.23(i)

12.9310 1112.29988625

8.998.81

178.0936

184 6157.8177.9180.618231648

19481883

17.112254

1500

32213169.36

320.285392848815414.92444.1137386

48098377.42180.91

32689287.53

157

r926125412871014r970106710.19r8547.87

10.4512.1310.2310.90

10.1213.31

r9.87r794r9388999.15

15.247.31

r6.0511.64

10.4312.5914.93

r9.04r6.27

12.28987

r628

9.098.84

9.27(i)

12.911015

12.35988

r628

9.088.88

178.7r936

1842157.5178.4181.618221654

1959189 9

17.202258

15 11

32167168.41

r320.40r529 19r491.63414.73444.94

r374 26r481 38375.06

181.49r325 42286.42

160

9.2312.5512.871016970

107010.19r8597.89

10.4712.1610.27

10.93

10.1513.38r9.90

r793r939r899'9.12

15.78r7.33

6.0811.6310.4412.6015.04

r9.066.27

12.29985

r626r8.968.78

'9.28(i)

12.951018

12.35986

r6.29r8.988.86

178.693.2

184.5158.0

178.8181.3

181.6165.7

193.71893

17.36225415 11

r322.02168.07

323.05r534 63r498.07r418.59r448.33r377 48

r485 46376.27

184.04

r321 66287.11

142.1

145713621443

138.1143915381512

156

"9.25"12.61"12.94"10.18"9.73

"10.70"10.22

"8.64"7.94

"10.55"12.19"10.19"10.94

"10.20"13.30

"10.04

"8.00"9.46"9.05"9.14

"16.14"7.30

"6.02"11.74"10.47"12.71"15.24

"9.10"6.26

"12.31"994"6.28

"9.00"8.80

"9.32C1)

"13.06"10.19"12.35"9.98"6.33

"9.07"8.93

"179.5"93.3

"185.5"159.2"179.0"181.9"183.1"166.8

"194.5"191.1

17.4022.61

"325.27"169.06

"324.68"532.14"498.19"414.33"440.84"378 40

"488.71"380.70"188.40

"325 80"290.40

159

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 103: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-13Unless otherwise stated in footnotes

below, data through 1986 and ., ..methodological notes are as shown in unus

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

WORK STOPPAGESWork stoppages involving 1,000 or more workers:

Number of stoppages:Beginning in month or year number..

Workers involved in stoppages:Beginning in month or year thous ..

Days idle during month or year ... do

UNEMPLOYMENT INSURANCEUnemployment insurance programs:

Insured unemployment, all programs, averageweekly #@ thous..

State programs (excluding extended durationprovisions):Initial claims thousInsured unemployment, avg.

weekly . doPercent of covered employment: @ ©

UnadjustedSeasonally adjusted . .

Beneficiaries, average weekly.... thousBenefits paid @ .... . .... mil $

Federal employees, insured unemployment,average weekly thous ..

Veterans' program (UCX):Initial claims doInsured unemployment, avg.

weekly ... doBeneficiaries, average weekly.... doBenefits paid ... mil $

Railroad program, insured unemployment,average weekly thous..

68

52912 140

2,746

19 673

2650

28

233715403

23

151

2018

1398

26

46

1744481

8

16278

2,108

1 309

2051

2124

18621 105

18

12

1917

112

12

6

8471

3

18361

7

461 155

1

1353

6

12223

0

0159

3

737

5

17337

1

6203

0

14208

3

10271

3

7264

FINANCE

BANKINGOpen market paper outstanding, end of period:

Bankers' acceptances mil $Commercial and financial company

paper, total do....Financial companies do ....

Dealer placed doDirectly placed . . .. do

Nonfinancial companies ... doLoans of the Farm Credit System: **

Total, end of period mil. $..Federal land banks and Federal

land bank associations do....Federal intermediate credit banks and

production credit associations do....Banks for cooperatives..... do....

Federal Reserve banks, condition, end of period:Assets, total #.......... mil. $..

Reserve bank credit outstand-ing, total # ... doLoans .... doU.S. Government securities do....

Gold certificate account . doLiabilities, total # do ....

Deposits, total . . doMember-bank reserve balances do....

Federal Reserve notes in circu-lation . • , • do

All member banks of Federal Reserve System,averages of daily figures:

Reserves held, total mil $Required doExcess do

Borrowings from Federal Reservebanks do

Free reserves f doLarge commercial banks reporting to Federal

Reserve System, last Wed. of mo.: $Deposits:

Demand, total # mil. $..Individuals, partnerships, and

corporations ... .... doStates and political subdivisions do....U.S. Government ..do ....Depository institutions in U.S do....

Transaction balances other than demanddeposits * do....

Nontransaction balances, total * do....Individuals, partnerships, and

corporations do ....Loans and leases(adjusted),total § do....

Commercial and industrial do....For purchasing and carrying

securities do ....To nonbank depository and other

financial doReal estate loans doTo States and political subdivisions doOther loans . do

Investments, total .... doU.S. Treasury and Govt. agency securities,

total do....Investment account do

Other securities do

64,974

326,144253,131102,753150,37873,013

58,250

39,286

11,5637,400

267,359

224,2851,565

211,31611,084

267,35956,89948,107

195,360

1 59,560' 58,191

1 1,369

'827"845

299,435

230,6247,8101,871

34,659

64,881537,869

496,382836,845297,246

14,591

28,449222,78536,953

236,821196,123

119,45499,83276,669

70,5653 373,5863 287,2743 115,0343 172,240

3 86,312

52,498

34,346

9,9278,225

275,566

236,0463,815

222,55111,078

275,56648,36841,784

212,890

1 62,123'61,094'1,029

'777r'735

247,359

190,5586,7443,258

27,448

67,094565,046

524,423846,807287,232

12,490

23,925260,30832,448

230,404196,268

122,902111,85873,366

69,622

351,253272,186109,010163,17679,067

54,268

35,990

10,6497,629

265,548

223,568972

212,30611,069

265,54850,65236,102

198,255

58,78457,594

1,190

776r687

229,223

173,3496,2493,144

23,845

63,139555,152

512,875831,850283,233

14,198

25,038243,60635,093

230,682186,408

113,423101,00972,985

68,495

347,421268,049105,285162,76479,372

257,388

217,861634

208,17011,069

257,38845,40939,501

199,115

58,83858,078

761

672r283

222,523

172,1735,9252,873

23,564

64,023555,783

515,758826,216277,246

14,508

22,643245,46134,295

232,063191,150

119,606105,21871,544

68,645

347,917270,455107,898162,55777,462

252,736

215,937566

207,23811,068

252,73641,83337,491

199,424

58,36157,329

1,032

647r517

218,826

169,1616,0812,569

23,810

65,096555,098

515,393829,948276,330

14,171

22,182247,890

34,005235,370192,465

120,939107,75871,526

68,771

360,173280,848113,988166,86079,325

53,638

35,124

10,5187995

262,649

221,7531,941

211,94111,075

262,64949,02239,028

199,680

59,81359,020

793

940r262

247,662

192,1866,9213,183

26,664

65,110556,013

515,415846,247282,932

18,133

22,800251,99034,152

236,240193,384

121,792107,61271,592

71,891

361,124279,957108,064171,89381,167

270,048

229,428587

217,61411,085

270,04852,79843,187

202,712

61,10659,977

1,129

943r635

238,194

184,6236,0892,156

24,802

64,815563,832

523,404852,240282,877

19,205

22,688254,83033,525

239,115194,152

122,746108,74871,406

71,068

354,012273,760103,234170,52680,252

266,491

230,022790

218,96011,082

266,49146,17741,781

207,873

61,20560,282

923

625r692

225,252

177,9226,3912,273

23,542

65,539565,981

525,604842,808283,311

12,555

22,765257,32333,373

233,481196,692

123,616109,13673,076

70,5652 373,5862 287,2742 115,0342 172,240

286,312

52,498

34,346

9,9278,225

275,566

236,0463,815

222,55111,078

275,56648,36841,784

212,890

62,12361,094

1,029

777r735

247,359

190,5586,7443,258

27,448

67,094565,046

524,423846,807287,232

12,490

23,925260,30832,448

230,404196,268

122,902111,85873,366

62,957

379,192296,593122,838173,75582,599

265,174

226,563333

218,41111,068

265,17446,28435,338

205,871

62,64061,345

1,295

1,082r585

221,655

173,5286,7413,079

23,250

68,742583,641

543,581864,261288,028

12,600

22,492267,72832,422

240,991202,980

129,273115,28073,707

62,419

389,156302,541127,032175,50986,615

260,693

225,526336

216,89111,063

260,69342,95439,701

206,300

60,04758,914

1,133

396r942

214,894

167,7366,7433,250

21,878

69,248587,949

547,278861,774290,090

12,853

21,782268,71332,076

236,260204,712

132,168114,98072,544

63,454

388,492302,755129,698173,05785,737

52,814

33,566

9,4799,770

265,072

227,5042,311

217,49611,063

265,07242,15038,777

209,719

60,07659,147

929

1,752r655

223,226

175,0455,8823,069

21,954

70,977590,904

550,777871,882293,278

14,216

22,274271,58131,632

238,901202,529

129,797114,25872,732

64,112

409,497316,061135,673180,38893,436

283,979

244,0062,590

203,97111,063

283,97958,48141,720

210,842

62,06461,205

859

2,993r490

225,053

176,8686,3174,010

21,590

72,244589,401

549,652881,326297,918

13,081

22,031273,83431,258

243,204202,133

130,107115,49872,026

63,332

416,276325,769139,339186,43090,507

269,989

233,8863,304

223,19211,063

269,98942,35438,758

215,168

60,68159,641

1,040

2,578r569

215,417

170,8515,6292,121

21,035

70,507594,842

553,766882,613299,004

11,704

22,350276,95930,993

241,603205,463

132,752117,08472,711

64,259

277,442

239,8672,464

227,63611,063

277,44246,17635,681

217,812

61,99161,103

r888

3,083r359

233,070

182,9365,9793,008

22,360

70,702599,611

559,581893,086300,160

13,712

22,717280,87330,759

244,865203,455

130,311113,45573,144

275,408

236,0753,650

224,45011,063

275,40844,46439,994

217,240

62,76361,754

1,009

3,440107

226,623

177,8026,1562,899

22,710

71,614603,936

564,529891,898299,456

11,994

22,302283,67230,352

244,122203,860

130,854113,34073,006

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 104: SCB_081988

S-14 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and ,,Uamethodological notes are as shown in vntts

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FINANCE-Continued

BANKING— Continued

Commercial bank credit, seas, adj.: §Total loans and securities $ bil. $ ..

U.S. Government securities do ....Other securities doTotal loans and leases <) do....

Money and interest rates:

Prime rate charged by banks onshort-term business loans percent.

Discount rate (New York FederalReserve Bank) @@ do

Federal intermediate credit bankloans do

Home mortgage rates (conventional 1stmortgages):

New home purchase (U.S. avg.) percent-Existing home purchase(U.S. avg.) do....

Open market rates, New York City:Bankers' acceptances, 90 days do ....Commercial paper, 6-month $ do....Finance co. paper placed di-

rectly 6-mo do

Yield on U.S. Gov. securities (taxable):3-month bills (rate on new issue)... percent..

CONSUMER INSTALLMENT CREDIT t

Not seasonally adjusted

Total outstanding (end of period) # mil $By major holder:

Commercial banks doFinance companies . doCredit unions . doRetailers do....Savings institutions do....

Seasonally adjusted

Total outstanding (end of period) # doBy major holder:

Commercial banks doFinance companies doCredit unions doRetailers do .Savings institutions do.

By major credit type:Automobile do ....Revolving doMobile home ... . do

Total net change (during period) # doBy major holder:

Commercial banks doFinance companies doCredit unions do...Retailers doSavings institutions do...,

By major credit type:Automobile doRevolving . doMobile home .. do

FEDERAL GOVERNMENT FINANCE

Budget receipts and outlays:Receipts (net) mil $Outlays (net) §§ do....Budget surplus or deficit ( ) §§ do

Budget financing, total §§ do ...Borrowing from the public §§ do ...Reduction in cash balances do

Gross amount of debt outstanding §§ do...Held by the public §§ do

Budget receipts by source and outlays byagency:Receipts (net) total mil $

Individual income taxes (net) do...Corporation income taxes (net) do . . .Social insurance taxes and contributions

(net) mil $Other do

Outlays (net), total §§ do...Agriculture Department do ...Defense Department, military do . . .Health and Human Services

Department mil. $.Treasury Department do...National Aeronautics and

Space Adm doVeterans Administration do ..

GOLD AND SILVER:Gold:

Monetary stock, U.S. (end ofperiod) @ mil $

Price at New York ft dol. per troy oz

Silver:Price at New York ±± dol. per trov oz

2,089.9309.3196.1

1,584.5

8.33

6.33

9.70

29.742 9.80

6.396.39

6.31

5.960

581,336

265,926134,66077,07543,49056,914

' 769,0911 990,231

'-221,1401 221,1401 236,187'- 15,047

1 2,129,964'1,746,044

1 769,091' 348,959

1 63,143

1 283 9011 73,087

1 990,2311 58,666

1 265,636

' 333,9351 179,189

1 7,403' 26,536

11,064367.867

5.470

2,230.6333.2196.0

1,701.4

8.22

5.66

8.54

2 8.942 8.94

6.756.85

6.37

5.820

623,628

285,856141,11882,04446,90764,099

' 854,1431 1,003,067' 148 924

1 148,924'150,989' -2,065

1 2,355,2061 1,897,034

1 854,143' 392,557

1 83,926

1 303,318'74,342

1 1,003,067'49,593

'274,007

'351,315' 180,345

'7,591'26,952

11,078446.504

7.009

2,176.7321.3195.9

1,659.6

8.25

5.50

8.42

9.059.02

6.837.00

6.50

5.690

585,167

268,610134,74077,88140,27660,137

587,878

269,711135,59578,27140,89659,836

254,212144,77726,810

6,645

2,5291,2201,083

1721,622

2,4712,901

171

82,94583,429-484

4849,7199235

2,314,4601,875,297

82,94540,52110,973

24,7126,740

83,4291,818

24,012

32,34426,202

6992,457

11,069449.59

7.41

2,181.3322.9194.3

1,664.1

8.25

5.50

8.41

9.019.05

6.596.72

6.35

5.780

592,527

271,899136,86379,00640,19260,834

593,512

272,287136,41479,12341,14460,944

256,585147,80926,966

5,634

2,576819852248

1,108

2,3733,032

156

64,22386,431

-22,208

22,208-3,16325,371

2,312,0891,872,137

64,22331,8892,358

23,3466,630

86 4314,193

23,477

30,55212,323

6713,380

11,069450.809

7.678

2,199.0328.5193.7

1,676.8

8.25

5.50

8.45

9.019.05

6.646.81

6.34

6.000

599,711

274,086139,04980,20840,63361,854

598,190

273,879137,66379,81641,38161,798

259,558149,81526,879

4,678

1,5921,249

693237854

2,9732,006-87

60,21381,89021 677

21,67733,01011 333

2,349,2721,905,147

60,21326,884

1,566

25,7126,051

81,8903,325

23,707

27,74813,866

6451,133

11,068460.883

7.847

2,214.7331.3193.7

1,689.8

8.70

5.95

8.43

9.038.91

7.317.55

6.90

6.320

607,777

278,679141,55881,07940,67861,940

602,978

276,805138,39580,35141,63262,099

261,902152,55326,845

4,788

2,926732535251301

2,3442,738-34

92,41077,08715323

-15,323-8,113

7 2102,355,2061,897,034

92,41039,79720,506

25,4036,705

77,087733

21,470

28,79211,143

6982,178

11,075460.198

7.590

2,227.6331.7194.2

1,701.7

9.07

6.00

8.55

8.868.86

7.857.96

7.17

6.400

610,751

279,668142,33981,45041,18262,349

606,927

278,855139,23680,67242,01262,458

263,823155,19626,698

3,949

2,050841321380359

1,9212,643-147

62,35493,055

-30,701

30,70127,2423,459

2,389,5731,924,277

62,35432,429

1,855

22,1775,891

93,0557,645

25,274

30,58711,796

9363,639

11,085465.355

7.562

2,232.1331.1196.2

1,704.8

8.78

6.00

8.65

8.928.89

7.077.17

6.69

5.810

612,341

279,606141,52381,69242,43863,495

608,726

279,550138,92880,92242,29163,411

264,474156,42526,604

1,799

695308250279953

6511,229-94

56,98783,91126924

26,92424,756

2,168

2,415,4861,949,034

56,98725,039

1,667

23,7566,525

83,9115,194

20,660

28,53115,912

772893

11,082466.468

6.662

2,230.6333.2196.0

1,701.4

8.75

6.00

8.57

8.788.86

7.487.49

6.64

5.800

623,628

285,856141,11882,04446,90764,099

613,021

281,564140,07281,06442,78263,949

267,180159,30725,957

4,295

2,0141,144

142491538

2,7062,882-647

85,525109,771

-24,246

24,24610,13614,110

2,437,6371,959,170

85,52536,53717,748

23,3617,880

109,7713,806

28,356

47,60729,084

8433,771

11,078486.305

6.790

2,242.4334.6193.9

1,714.0

8.75

6.00

8.56

8.758.92

6.776.92

6.53

5.900

621,579

286,159140,81181,66944,72564,456

619,258

284,753141,69581,66242,92664,633

269,883162,06525,926

6,236

3,1881,623

598144684

2,7042,758

32

81,79165,78616,005

-16,0055,361

-21,366

2,454,0961,964,452

81,79143,9873,630

28,1626,012

65,7864,428

19,227

12,44113,902

6221,210

11,068476.580

6.732

2,259.8334.9195.6

1,729.2

8.51

6.00

(3)

8.768.84

6.496.58

6.27

5.690

618,926

286,024140,32181,09443,07864,873

624,293

287,344142,94681,89743,08065,396

273,133163,46225,857

5,035

2,5911,251

235154763

3,2501,396

69

60,35584,260

-23,905

23,90520,1583,747

2,477,4381,984,612

60,35525,651

975

28,5005,230

84,260643

23,066

30,79015,184

6062,158

11,063441.903

6.325

2,274.8338.9197.5

1,738.4

8.50

6.00

8.778.84

6.516.64

6.23

5.690

621,625

288,362140,93581,64542,67364,564

629,485

290,832144,05382,59543,27165,078

276,762165,64425,732

5,191

3,4871,107

698191

-318

3,6282,182-125

65,73094,877

-29,147

29,14717,16011,987

2,493,1952,001,771

65,73020,63712,706

25,6766,711

94,8774,358

25,756

32,47913,900

8042,555

11,063443.607

6.413

2,297.7343.0198.2

1,756.4

8.50

6.00

8.768.93

6.796.92

6.51

5.920

627,052

291,542141,71682,33942,56065,341

633,336

293,166144,51683,20443,29565,387

278,567167,35625,764

3,851

2,33546260924

309

1,8051,713

32

109,32395,43313,890

-13,890-334

13,556

2,508,3422,001,437

109,32353,33412,026

37,3576,606

95,4334,449

26,103

32,04414,704

8163,748

11,063451.833

6.478

2,322.5345.9197.6

1,778.9

8.84

6.00

8.598.90

7.127.31

6.75

6.270

'632,329

'293,708142,542r83,26942,655

'66,551

r636,318

'295,547144,454'83,88143,162

'65,510

'279,418'169,154'25,703

'2,982

'2,38061

'677133

'123

'851'1,798-61

59,71182,17322,462

22,4627,559

14,903

2,526,4922,008,997

59,71117,9581,613

33,3966,745

82,1733,642

20,271

30,02516,681

7771432

11,063450.840

6.543

2,343.9349.8198.5

1,795.5

9.00

6.00

'8.90'8.98

7.387.53

7.01

6.500

638,572

298,789143,75184,23942,79365,340

641,752

300,108144,74884,67943,45065,054

281,834172,00125,498

5,434

4,561294798287

-456

2,4162,847

205

99,34889,8569,4929492

11,391-20,883

2,555,0862,020,388

99,34846,23418,347

27,9676,800

89,8562,552

24,572

35,00530,213

8632,130

451.332

7.037

9.29

6.00

8.808.98

7.777.90

7.19

6.730

:::::::::::::::

:::

::::::::::::::::

437.633

7.146

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 105: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-15Unless otherwise stated in footnotes

below, data through 1986 and IT .,methodological notes are as shown in Units

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FINANCE-Continued

MONETARY STATISTICSCurrency in circulation (end of period) bil. $Money stock measures and components (averages

of daily figures): tMeasures (not seasonally adjusted): t

Ml bil $M2 doM3 doL (M3 plus other liquid assets) do

Components (not seasonally adjusted):Currency doDemand deposits doOther checkable deposits $$ do....Overnight RP's and Eurodol-

lars <S.... .. doGeneral purpose and broker/dealer

money market funds doMoney market deposit accounts do....Savings deposits doSmall time deposits @ doLarge time deposits @ do

Measures (seasonally adjusted): iMl .! doM2 doM3 doL (M3 plus other liquid assets) do....

Components (seasonally adjusted):Currency doDemand deposits doOther checkable deposits tt doSavings deposits... doSmall time deposits @ doLarge time deposits @ do

PROFITS AND DIVIDENDS (QTRLY.)Manufacturing corps. (Bureau of the Census):

Net profit after taxes, all manu-facturing mil. $..Food and kindred products.... do. ..Textile mill products do ...Paper and allied products do....Chemicals and allied products do....Petroleum and coal products doStone, clay, and glass products doPrimary nonferrous metal doPrimary iron and steel doFabricated metal products doMachinery (except electrical) do....Electrical and electronic equipment do ....Transportation equipment (except motor

vehicles and equipment) mil. $..Motor vehicles and equipment doAll other manufacturing in-

dustries doDividends paid (cash), all manu-

facturing do

SECURITIES ISSUEDSecurities and Exchange Commission:

Estimated gross proceeds, total mil. $..By type of security:

Bonds and notes, corporate.. doCommon stock... doPreferred stock do ....

By type of issuer:Corporate, total # mil $

Manufacturing doExtractive doPublic utility doTransportation do ...Communication doFinancial and real estate.. .. do

State and municipal issues (Bond Buyer): §Long-term do ....Short-term do

SECURITY MARKETS

Stock Market Customer FinancingMargin credit at broker-dealers, end of year

or month .. . .. ... mil $Free credit balances at brokers, end of year

or month:Margin-account . . ..doCash-account do .

BondsPrices:

Standard & Poor's Corporation, domesticmunicipal (15 bonds) dol. per $100 bond-

Sales:New York Stock Exchange, exclusive of some

stopped sales, face value, total mil. $..

2120

2687 23384640223

174428102051

718

19635440328887934469

831211329217063,280

12,90088232 120

7603372323265517,619

3,2618363

14 586

46044

r245,396

172 002r57 73911 553

r241 294r43 604

r4667r25 128

r482414 534

124 200

142 54420 111

36840

488019000

65.1

10.464.10

2302

74402861 8

r3 586 7r4 240 8

188829432540

794

21385518407786534596

1 115,5991 15,627

1 1,8911 5,520

1 16,5591 10 900'291171 077'1356'4427

1 10 2031 9,570

1 4,6771 10 647

1 20 234

' 49 512

'268,682

185 344r65 75411475

r262 57345904r7 954

19 8936,5497 319

146 093

98,67315486

31 990

475015,640

62.7

9.726.24

2152

74442850 1357624229 1

188629442543

749

21065551417 384784570

742128517

r3 580 2r4 232.4

187829332543413185214586

315033849

3761,3214,0054435

84169

402123831032457

1,2123318

4877

12684

19,847

12 8945999

954

198473187

6641961

546786

10310

111732005

38420

368015,405

61.2

790.99

74682 862 6

r3 585 74*226 6

190529432543

756

21065494420585964565

743628582

r3 587 7r4 235 2

189029232556415585914602

17,437

123184277

642

172372319

3631 2841 267

18610407

77182391

40250

409515930

61.6

793.38

745028682360284 2506

190929072556

798

2131545041858668461 7

746528695360554 257.8

190229212572417886594624

16,860

120444295

521

168601 731

961 035

271618

11377

69402272

41 640

424016,195

61.1

720.53

2168

745228760

T3 618 442786

190928932575

835

21635405417 387324659

7475288093,620 54,283 5

191 429052586418687214653

332523869

547158656143829

976526356

1 41127862544

1,2332034

5 941

13564

24,777

17 5925 140

946

236783962

3451 522

1191

16264

5744491

44 170

427015895

58.0

873.52

7537289533*642043125

192629572585

860

21825339417 88856473 i

7562289473,642 04,312 2

193 129592603417088334723

11,987

7 0403840'l61

11 0412485

374374152857

6249

66441 216

38250

841518455

55.0

962.45

75602900 136640

r4 333 0

195929412593

797

2197527741329038481 3

75272896636567

r4 323 2

195029132595415090174805

10,245

7 2322552

163

994797436157615049

5931

84941 854

34 180

670015360

59.8

642.17

2302

7659291483 677 7

r4 342 0

199429852616

78 1

221 15252410 091464854

75082 901 13661143239

196528802593414391314847

261274982

5271 4952666

185435203250

1 26236131970

1,1592378

5372

12498

20,439

139745245'l22

19 3411*734

5332831

4041 6688084

7 685626

31 990

475015640

60.5

729.81

76472937 33699343794

197 129582652

828

22505241411 2929 54850

758829250368684 360.7

198428992633414492464829

20,174

1576927141242

197252946'802492

160

12905

5410405

31 320

467515270

61.8

634.54

74502933437080

r4 387 5

197227912618r780

2310522641229445491 1

759 52,946 03,719 54,392 0

199328782650416294154897

23,196

153036782'261

223462000' 87

1 429760o

16842

8003630

31 990

455514695

63.7

688.14

2271

752 1r2 958 8r3 737 544170

199 2279.9266.1

748

23495247418695374938

r7629r296743744.4

r4 418.5

200 928792669419 895354915

369244548

3881,7446,3784996

94802369

1 481

3 0172,734

1,2743313

5786

12234

'20,843

16 532

3420625

r20 5771595

1891814r589488

13754

10200355

32660

461514,355

61.8

688.44

r778329993

r3 771 9r4 461 2

201 6r292.0277.8

766

2361r52334246960 5491 3

r770 12,99173,767.0

r4;460.8

2025r2902270 1

r42279648

r4929

17,727

14 571r2 667

T241

17 479r3793

r3151515

r250r243

10 096

61803017

33270

4,39513,965

61.0

612.76

r7638r2 989 4r3 768 2r4 471 8

2036r282.9270.1

r809

232.7r5196r428 3964 2

r4957

r7702r3 003 3r3,780.7r4,489.2

2036r2874r271 9r42519720

r4959

12,692

8412

3345285

120421435

2191062

36540

8122

7222847

33070

438014,150

60.4

648.40

r7788r3 014 3r3 795 94,498 9

2058r291.0r274.4

r799

229.8r522.3r4333r9700r4996

r7765r3,016.4r3,800.64,502.3

2049r2899T274 4r4290r9749r5015

13,283r2761

32300

4,58014,460

61.4

675.53

78563028538150

2079292.7276.8

761

230.4521.0436997845047

782.43,024.03,817.6

206329062783431.7977.85090

6,767620

31 770

4,48514,340

61.4

542.87

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 106: SCB_081988

S-16 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and I T . f omethodological notes are as shown in L)nits

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FINANCE—Continued

Bonds— ContinuedYields:

Domestic corporate (Moody's) percent..By rating:

Aaa doAa . doA doBaa .. .. do

By group:Industrials . .. doPublic utilities . doRailroads . . do

Domestic municipal:Bond Buyer (20 bonds) do....Standard & Poor's Corp. (15

bonds) doU.S. Treasury bonds, taxable $ do....

StocksPrices:

Dow Jones averages (65 stocks)Industrial (30 stocks)Public utility (15 stocks)Transportation (20 stocks)

Standard & Poor's Corporation: §Combined index (500 Stocks) 1941-43=10..

Industrial, total (400 Stocks) # do....Capital goods doConsumer goods . . . do

Utilities (40 Stocks) do....Transportation (20 Stocks) 1982=100...

Railroads 1941-43= 10 ..Financial (40 Stocks) 1970=10..

Money center banks 1941-43=10..Major regional banks do ....Property-Casualty Insurance do ....

N.Y. Stock Exchange common stock indexes:Composite 12/31/65—50

Industrial doTransportation do..Utility doFinance do

NASDAQ over-the-counter price indexes:Composite 2/5/71— 100 ..

Industrial doInsurance . . . . doBank .. do

NASDAQ/NMS composite 7/10/84=100..Industrial do

Yields (Standard & Poor's Corp.):Composite (500 stocks) percent

Industrials (400 stocks) doUtilities (40 stocks) do.Transportation (20 stocks) do.Financial (40 stocks) do

Preferred stocks, 10 high-grade do ....Sales:

Total on all registered exchanges (SEC):Market value mil $Shares sold millions..

On New York Stock Exchange:Market value.. . mil $Shares sold (cleared or set-

tled) .. millions.New York Stock Exchange:

Exclusive of odd-lot stock sales(sales effected) .. millions

NASDAQ over-the-counter:Market value . .. mil $Shares sold millions

Shares listed, NYSE, end of period:Market value, all listed shares. bil. $.Number of shares listed millions..

9.71

902947995

1039

996946985

7.23

7 388.14

702501,792 76

1952478541

236.34262.162271426072107.65200.19141.7328.36

115.71114.4131267

13600155 841198771 36

147 20

36696367 2743057410 17156.1013803

348309654243322

. 8.76

1,705 12448,338

1 448 235

39150

35680

378 21628737

2,199 2659,620

9.91

938968999

1058

9839989 63

7.69

773864

84946227599

2017092919

286.83330.902882332377

112.70228.91166.9028.15

112.03109.5431150

1617019531140397430

14648

402744227242525464 95172.49161 06

3082626522203608.37

2 284 16663771

1 983 311

53038

47 801

498 30137 890

22163171,802

9.87

932965998

10 52

987987956

7.81

789863

895592,384 02

202991,014 02

301.38349.583048734321112.63247.20174.0529.55

125.53117.5631087

1695820661150397425

15273

42370450 9550773477 16181.14171 96

2922466642033398.31

171 0724622

147 990

3834

3 594

427523285

2 718 5566,810

9.92

942964

10001061

9821001952

7.73

7 838.70

924482 481 72

203381,044.15

310.09362.363157935373110.93256.09186.7029.44

122.72116.2731069

1742821412157487418

15225

429014560343674473 60183.4717408

2832366691 903 408.25

189 8965333

162 926

4386

3968

397503392

2 845 0168,246

10.14

9 67986

10201080

99410339 69

8.05

790897

974112 655 01

207981,081 73

329.36384.943366737896117.70268.34195.9631.45

128.94123.1132890

184 1822649164027820

16094

44839477 19461 37496 62192.17182 74

2692266 301 903 198.32

210 5185543

180 977

4 584

4063

449593 149

2 945 8868,660

10.64

10 18103510721131

10281100996

8.53

8369.58

936.342 570.80

198231 027.73

318.66372.493270436508114.98257.77191.6130.02

118.70116.7632385

1783921952158587613

15408

44280473 1045084494 26189.82181 31

2782336421973398.64

197 0134894

171 341

4067

3724

404243 115

2 885 0870,444

10.97

10 521074109811 62

106011321007

8.43

8849.61

821812,224 59

18868895.24

280.16323.132808430949111.73226.47165.8726.67

102.0699.93

30935

1571318986140957327

137 35

38505401 95413 18439 gg165.09154 08

3252786 602373938.99

267 7867 489

238 749

6408

6095

522134090

2 258 5471,165

10.54

10011027106311 23

102510821030

7.90

8098.99

716131,931 86

18249744.53

245.01280.112404127359106.49188.23143.4422.8984.1587.00

29015

1372116342117576986

11830

318 7531974363 2638431136.9212280

3 eg3 156952624 50

9.11

152 6495306

136 468

4 573

3 590

255502520

2 079 2071,540

10.59

10 111033106211 29

10 1810991008

7.86

8079.12

703601,910 07

1760572884

240.96277.682458727217102.36185.50146.4621.1276.4783.17

27019

13488162 191158567 39

111 47

31454318903459537887135.5112308

3713 187 192634839.08

142 6125263

124 179

4374

3927

269462973

2 216 3171,802

10.37

9881009104311 07

99810751004

7.51

7 588.82

722.211,947.35

182.18755.97

250.48288.362464727964106.13192.20150.0822.4178.2389.63

278.01

1405516847121207001

11940

339283444137555410 93146.3613297

3663147042574669.04

128 2304323

112 389

3643

3495

27 5772465

2 321 3372,952

9.89

940960994

1062

96710 11985

7.47

7 558.41

739.631,980 65

184.96790.14

258.13296.462496829204110.67199.03153.5223.2783.3994.09

28337

145 1317344126097289

12436

35358354624000543503152.6913597

356307673244449

9.02

140 0334641

123 996

3981

3694

27 6092502

2 411 6273,025

9.86

9399 59989

1057

96110 11991

7.90

7 808.61

766.552,044.31

177.68861.33

265.74308.042584730552107.24212.88162.4423.3084.7695.74

27633

1498818157135.1571 16

12527

375.5438634404 1744607162.3414952

3482966992344519.07

158 8785471

144 622

4791

4052

387293158

2 346 2373,517

10.15

967986

10171090

97610531008

7.77

7 918.91

759.102,036.13

171.40853.73

262.61305.782551930169104.12209.54160.1722.3882.5096.44

25831

148461808813343r6940121 67

37724387 544004244776163.0514952

3573027302464789.19

141 2034429

123 459

3714

3261

288872381

2 369 7173,911

10.37

990101010411104

9.9710.7510.03

7.87

8019.24

739.311,988.91

169.30820.24

256.12297.3924632286.71103.11197.57148.2322.2884.2499.23

256.05

144.94176.02127.63r686512035

371.883827239232441.27160.6514802

3.803.267.442.644709.25

1154813,927

100 894

3,297

3232

252922468

2,359.1474,360

10.36

986101310421100

9.9910.7110.04

7.74

7869.04

784.202,104.94

180.02873.11

270.68312.7826521305.51109.86211.33160.4424.4697.54

107.94274.56

15272184.92136.027225

12904

386.44400913980945095167.1615529

3583.086.962.434249.32

4307

332963,115

2,456.5174,688

10.47

996102610551111

9.9810.9610.06

7.76

7879.20

785.262,104.22

178.71881.17

269.05310.8726293302.22108.49210.37157.7224.5597.37

108.85270.45

152.12184.09136.497150

12999

391.404056239852

169.2115697

9.33

3338

290542,614

2,439.6575,267

FOREIGN TRADE OF THE UNITED STATES

VALUE OF EXPORTSExports (mdse.), incl. reexports,

total @ mil. $Seasonally adjusted t do....

By geographic regions:Africa doAsia doAustralia and Oceania ...do....Europe do ...Northern North America do....Southern North America do....South America do....

By leading countries:Africa:

Egypt doRepublic of South Africa do....

Asia; Australia and Oceania:Australia, including New

Guinea do ....Japan . . do

227,158.5

5978264 531 86,658.5

63,631 255,513 719,126.311,949.8

1 981 81,158.3

5,602.526 881 6

254,121.9

6283473 267 56,525.9

71 917 259,817 621,941 513,036.1

2 21031,281.2

5,545.728 248 6

21,636.721 107 5

584757028

554.7578305,606.11,845.11,045.8

217 1103.1

473.222930

21,379.022 432 9

60696333 5

557.253785471521 942.71,467.5

266789.3

472.42561 3

20,079.120 884 1

471 96 531 9

622.55524 4416601,789 71,1106

126 1121.8

520.626579

21,183.721 810 3

45026 171 9

525.7590284 844.91 931.51,149.8

83 6111.4

437.92 424 3

22,777.822 074 8

467 162344

539.161336527331,875 81,214 7

129 61097

44892 392 4

23,278.723 094 9

58547 1254

591.96671555123208971,213.0

163 01300

50952 637 7

24,314.424 152 5

50557981 6

540.4696095541 1193791,327 7

117 61319

46253 001 3

22,990.124 488 2

49206889 1

498.666507

174 81156

26680

24,138.624 518 3

50927 111 6

515.87 2597

12771081

2 937 0

29,105.726 877 0

57798871 3

602.990397

11921618

3 232 3

26,334.926 028 6

69088247 7

569.07 9619

16591089

3 0159

r28,142.6r27 478 4

573879099

627.080494

16871489

2 932 1

27,384.826 811 8

741 287552

691.075292

33051423

3 416 8

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 107: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-17Unless otherwise stated in footnotes

below, data through 1986 and n -tmethodological notes are as shown in

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FOREIGN TRADE OF THE UNITED STATES—Continued

VALUE OF EXPORTS-ContinuedExports (mdse.), incl. reexports— Continued

Europe:France. mil $German Democratic Republic do....Federal Republic of Germany do....Italy doUnion of Soviet Socialist Re-

publics doUnited Kingdom do

North and South America:Canada doLatin American Republics,

total # .... doBrazil . doMexico ... doVenezuela. do

Exports of U.S. merchandise total @ doAgricultural products, total do....Nonagricultural products, total do....By commodity groups and principal

commodities:Food and live animals # mil. $..Beverages and tobacco do....Crude materials, inedible, exc.

fuels # doMineral fuels lubricants etc # doOils and fats, animal and vege-

table doChemicals.; doManufactured goods # do ....Machinery and transport equipment,

total mil $Machinery, total # do....Transport equipment, total ,...do ....

Motor vehicles and parts do

VALUE OF IMPORTSGeneral imports, total @ do

Seasonally adjusted t • doBy geographic regions:

Africa .... doAsia doAustralia and Oceania doEurope doNorthern North America do....Southern North America do ....South America.. do

By leading countries:Africa:

Egypt doRepublic of South Africa do ....

Asia; Australia and Oceania:Australia, including New

Guinea mil $Japan do

Europe:France doGerman Democratic Republic ....do....Federal Republic of Germany do....Italy doUnion of Soviet Socialist Re-

publics doUnited Kingdom.. .... do

North and South America:Canada . doLatin American Republics,

total # do....Brazil do ....Mexico doVenezuela... .. . do

By commodity groups and principalcommodities:

Agricultural products, total mil. $..Nonagricultural products, total doFood and live animals # do ....Beverages and tobacco doCrude materials, inedible, exc.

fuels # doMineral fuels, lubricants, etc do ....

Petroleum and products . doOils and fats, animal and vege-

table .. doChemicals doManufactured goods # doMachinery and transport

equipment ... doMachinery, total # do....Transport equipment do ....

Motor vehicles and parts do ...

7 2159679

10 560.548383

1247511 4182

55 511 6

27 968 038853

12 391 63 141 0

216 230 526,061.0

190,494.2

17,302.62,920.2

17 323 88 1145

1 014922 765 814,005.0

95 289 560,396.834,892.718 575 0

365 437 7

10 348 1153 869 1

3717091 826 068,259.023,465.018 477 2

111 52,364.5

2676681 911 1

10 128 686.5

25,123.710 607 4

558215 396 0

68 252 6

39,541.26,812.9

17 301 75096 7

21 284 4348 676 9

20,802.53 866 1

10 431 537,309.934 140 4

515915 000 748 825 9

161 561 687,548.674,013.066 572 4

7 943 2' 53 9

11,747 755297

1 479814 113 9

59 814 3

31 574 440399

14 582 235860

245 115 028,636.2

215,222.7

19,178.83,666.7

20 416 37 713 1

981 426 380 917,136.1

108 596 069,637.038,959.020 878 8

406 241 0

11 939 4174 452 3

4 135 997 418 771,093.526,497.920 362 8

46491,345.5

3029 584 575 0

10 730 2854

27,069.311 039 6

424717 341 3

71 085 0

44,370.97,865.4

20 270 85579 0

20,686 9385 213 7

20,547 14 1049

11 525744,219.541 529 4

568 116 213 453 356 3

177 808 799,432.978,375.870,763 8

68254.5

894.8517 4

13551 1530

56057

263962883

1 2436295 1

20 806 52,070.7

18,225.2

1,502.1268.7

159336539

754228121,506.9

907865,853.23,225.520453

35 358 034 418 1

1090615 197 0

3900833826,101.52,416.017330

63 5103.3

26207 3326

94266.2

2,331.7950 0

4301 3867

6 1008

3,925.4689.6

1 83834908

1798033 468 4

1,868.43286

97253,894.637737

3281 318845787

15 533 18,366.57,166.66,370.7

583921

83933697

200810442

47150

3001 66185

1 2255344 5

20 683 12,385.7

17,926.9

1,785.6276.5

1 613 66049

8932 178 11,370.0

874505,516.83,228.21 3440

35 809 934,625 4

1 3494160543

3757878545,322 42,20821 7488

846121.3

267 57 340 5

1 067 473

2,244.91 111 1

4031 564 5

5321 9

3,737.4658.0

1 65335244

1 686734 157 4

17249338 5

969 14593343480

5621 352247226

14 796 68,456.06,340.55,620 2

610614

8869387 4

14401 1234

4 1658

263903062

1 1928333 2

19 360 72,134.8

17,369.0

1,706.3283.7

168836747

994235771,450.7

8253 55,648.92,604.613678

33 826 234 492 3

1 304815 785 4

406776273506972 167.81 958 1

640134.9

30007 2424

871 982

2,109.71 000 4

3641 3526

50690

. 3,882.9777.0

1 6309'575*2

1573532 746 31 629 3

3090

96294 581.74391 1

4681 319345385

14 041 08,332.85,708.15 118.4

649257

9772423 6

6421 1716

4 844 7

2839 13983

1 32773185

20 413 82,334.0

17,881.7

1,681.4284.1

167066586

1064221771,457.4

9478 56,067.73,410.817779

33 667 534 582 4

1 009414 874 8

38617308160947224611 653 2

47 187.8

294567809

792978

1,889.8723 6

3621 441 0

60947

3,678.0682.8

1 724 44288

1577131 995 5

1,628 73150

1 02943,829 73 617 5

4831 309344622

14 216 38,555.25,661.25,084 3

728 11.2

1 064.7441 4

5431 213 5

5273 l

278533877

1 2582317 3

21 979 72,676.1

18,277.9

1,766.1320.2

18321630 1

862207551,430.0

9210 16,134.53,075.618129

38 075 635 966 5

1 019816 509 9

32218800565733242662061 8

324113.1

246779320

1 036393

2,306.71 019 5

3461 551 1

6 5730

4,275.1821.4

1 871 45320

1 810635 903 518169

425 1

1 002 14240240065

61 51 384048290

16 490 39,372.07,118.363288

735876

10912491 8

104812661

5511 8

299494003

1 414 63429

22 434 22,825.3

20,129.0

1,684.8377.2

20517660 1

97 4227521,545.4

10 622 36,775.23,847.02 178 5

35 210 9353161

1 156014 602 8

29388681 1672392266817498

420127.5

23447 1790

969 066

2,482.1964 5

51 71 4799

6723 1

3,830.7722.0

1 783 34264

1 710633 763 71 6465

421 6

1 015 13 940 236933

72 11 42494 632 1

15 898 68,773.67,125.06 544 9

824 53.2

1 128.5541 4

260312705

55408

291383714

1 282 1411 9

23 448 62,958.6

20,977.0

1,783.3421.9

215348168

107 9240571,576.9

10 388 36,700.13,688.21 782 7

35 758 736 586 4

1088914 933 7

301 19123261278220521 6637

555130.5

221 57 472 2

1 008062

2,546.2960 9

4571 657 5

6 1268

3,675.0715.5

1 707 4408 1

1 701 133 742 416658

3186

1 03033611532655

5521 568 84 5824

16 294 09,109.17,184.963169

811 1

1,086.1504 1

26381 279 9

49126

262393406

1 21553128

22 106 92,876.7

18,569.8

1,735.5375.7

192965600

679228701,498.9

9441 46,431.73,009.717299

32 995 134 257 6

955914 314 4

467174583

98107.8

63539

861 5

2,090.1860 2

4941 1544

59928

3,825.0791.6

1 74634449

1888131 329 618401

2868

97673,575 6

5501 526246850

14 131 88,013.56,118.3

8158

1 141.8483 6

328014657

5 1758

272853048

1 35972954

23 304 93,156.2

19,569.4

1,874.1348.9

2 209 65480

151 6244461,685.1

10 107 96,515.93,592.02 110 6

35 569 037 729 0

915815 374 9

430982001

292125.1

7 1864

9549

2,162.89707

4551 4635

6598 1

4,075.9741.1

19820416 1

1 935 033 882 718384

3188

1 050 537951

61 91 646 34 901 4

15 693 89,116.86,577.0

9909

1,407.06430

308917684

6 178 1

334933407

167833891

28 138 03,326.9

24,676.7

2,142.0383.4

230686452

153 72 933 11,948.9

12 743 17,993.44,749.7

37 030 036 643 7

894514 802 2

428793294

255128.7

74808

1 0883

2,513.21 0603

7061 6498

7 2727

4,173.4728.6

200494036

1946235 165 6

1,868 63057

1 19923 190 3

5581 866 25 325 7

16 859 69,862.46,997.2

8307

1,247.86269

341.81,486.1

5 796 1

296673680

14828334,3

25 311 33,054.0

22,443.3

2,026.3382.1

2,135 8678 4

1175264621,781.2

11 18247,079.34,103.1

35,026.934,825.0

854814,489 5

387.48,163.3

174110.3

71830

8958

2,154.6893 5

2891 5460

6 830 7

3,923.3763.0

17992435 1

1,715.033 086 81,628.5

3180

1 098 13,280.6

5261 649 148509

16 027 88,988.97,038.9

7823

1,229.95734

313.11,605.8

62554

350715107

178913506

r26,979 52,970.6

23,134.7

2,201.5389.8

2,021 97286

10652 645 71,949.1

11 814 77,330.94,483.8

r36,146.9r35,731.7

1,028 014,740.2

415.68,676.7

128128.9

6,785 6

1 1491

2,158.88937

39 215497

72418

4,155.1746.9

1 97885491

1,662 534 790 9

1,633.43239

1 15033,864.6

51 51 647 45,257 5

16 107 39,169.26,938,1

8232

1,262.6591.7

151.01,618.3

61241

3,243 83146

173763530

26,302.02,675.8

23,626.2

1,954.6359.9

2,128.07533

15612,815.21,969.0

11 327 07,353.13,973.9

38,446.337,807.6

929.316,145.3

466.99,069.3

126126.0

7,537.6

12818

2,212.51 033 1

28315515

74701

4,160.8754.4

2 11664295

1,599.536 846 81,530.8

3407

1 16563,490.5

600171665,3883

17 391 010,188.17,202.9

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 108: SCB_081988

S-18 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and ,, .,methodological notes are as shown in uniis

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FOREIGN TRADE OF THE UNITED STATES—Continued

IndexesExports (U.S. mdse., excl. military grant-aid):

Unit value @ 1977-100..Quantity.. ... doValue do

General imports:Unit value @ doQuantity doValue do

Shipping Weight and ValueWaterborne trade:

Exports (incl. reexports):Shipping weight thous. sh. tonsValue mil $

General imports:Shipping weight... . thous sh tonsValue mil. $..

155411261750

154016492539

32841987946

450 214217,781

15861270201 4

164616922785

357 28799 Oil

471 693245,030

157912692004

165217572903

301647886

4096621,436

1600123 11970

168017572952

316278330

4301822,025

159912281964

169716662826

301548593

4374221,418

163912552057

170816192765

303488040

3857219,229

1614127 1205 1

169318343106

305168366

4049121,902

160614262290

169717212921

299869230

41 46620,495

1590147 12340

168817292919

353069887

3871420,617

163413072136

168716212735

282468801

3928019,811

161314242296

170417312949

16261730281 2

171517823056

165.415402547

172216642866

170.215262597

1763170.3300.2

TRANSPORTATION AND COMMUNICATION

TRANSPORTATION

Air CarriersCertificated route carriers:

Passenger-miles (revenue) bilPassenger-load factor percent..

Ton-miles (revenue), total mil..Operating revenues (quarterly) # § mil. $ ..

Passenger revenues do....Cargo revenues . . doMail revenues do

Operating expenses (quarterly) § do....Net income after taxes (quarterly) § .do....

Domestic operations:Passenger-miles (revenue) bil..Cargo ton-miles milMail ton-miles doOperating revenues (quarterly) § mil. $ ..Operating expenses (quarterly) § do....Net income after taxes (quarterly) § do....

International operations:Passenger-miles (revenue) bil..Cargo ton-miles . milMail ton-miles ....do....Operating revenues (quarterly) § mil. $ ..Operating expenses (quarterly) § do....Net income after taxes (quarterly) §. do....

Urban Transit SystemsPassengers carried, total * mil..

Motor CarriersCarriers of property, large, class I, qtrly.:

Number of reporting carriersOperating revenues, total mil. $..Net income, after extraordinary and prior

period charges and credits mil $Tonnage hauled (revenue), common and

contract carrier service mil. tons ..Freight carried— volume indexes, class I and II

intercity truck tonnage (ATA):Common carriers of general freight,

seas, adj 1967=100..

Class I Railroads tFinancial operations, quarterly (AAR),

excluding Amtrak:Operating revenues, total # mil. $..

Freight doPassenger, exCl. Amtrak do....

Operating expenses doNet railway operating income do....Ordinary income t do....

Traffic:Revenue ton-miles, qtrly. (AAR) bil.,Price index for railroad freight 12/84=100 ..

Travel

Restaurant sales index.... same month 1967 = 100..Hotels: Average room sale 6 dollars..

Rooms occupied % of total..Motor hotels: Average room sale ^ dollars ..

Rooms occupied % of total..Economy hotels: Average room

sale Q dollarsRooms occupied % of total-

Foreign travel:U.S. citizens: Arrivals (quarterly) thous ..

Departures (quarterly) do....Aliens: Arrivals (quarterly) do....

Departures (quarterly) do...Passports issued do

National parks, recreation visits ## do...

366.5560.3

45,68150,08639,608

5,624833

48,855c 205

302.093,9901,247

'41,04339,983c 108

64.443,346

433

8,6268,461-108

9,009

10018,480

548

166

148.0

'25,957'25,098

110

'24,6521,168

733

867.7100.8

2 21973.61

6648.07

62

31.1363

15,34314,35710,2658,8184,109

52,749

'404.3162.4

50,451'56,699'44,883

6,395924

'54,262'459

'324.484,3391,312

'45,468'43,756

'57

79.83'3,921

443

'10,907'10,214

'302

10018,772

263

179

163.9

26,62325,798

95

23,8811,7521,989

939.7100.1

2 22382.58

6847.79

62

32.8764

'17,005'16,425'11,639' 10,239

4,87255,782

36.2565.4

4,441

14,06411,2711,553

21413,028

479

28.49359100

11,37010,545

355

7.7623130

2,6652,456

109

751

1004,673

105

44

162.0

6,6256,423

24

5,733572556

r230.6100.2

24379.40

6946.95

67

32.1873

4,4834,1914,5944,008

536

7,390

39.9168.4

4,839

30.80367101

9.1134634

723

161.7

100.1

23275.09

6847.85

71

33.9576

49510,004

41.5171.0

4,992

31.79374

99

9.7033434

721

163.6

100.3

20877.52

7048.18

71

33.5578

372

10,050

31.5858.6

4,012

15,33812,3141637

22114,152

615

24.21381102

11,93411,202

262

7.3733933

3,3312,882

305

731

1004,859

60

45

168.5

6,7126,513

22

6,415239299

242.3100.1

22083.10

6847.17

40

33.1963

5,2854,87237923,327

333

6,349

32.6359.6

4,210

25.73414112

6.9038337

170.9

100.2

24386.16

7347.45

63

33.0464

300

5,114

29.8757.7

3,906

24.27387103

5.6038544

176.2

100.2

20983.58

6646.23

54

32.1055

276

2,383

31.6058.1

4,111

1441811,2621 738

27314,321

374

25.57385161

11 61611,498

205

6.02348

57

2,7012,739

160

1004,909

52

48

173.4

6,8406,632

205,982

538690

2487100.1

23281.50

5245.86

46

31.8841

3,6923,8202,7862,539

304

1,395

30.4555.8

3,861

24.09354111

6.3631635

175.0

103.2

17886.64

5747.11

54

32.8052

3 1,4643 1,176

3 8923 891326

1,407

29.7157.5

3,803

24.36355105

5.3433834

171.0

103.2

21788.17

6345.78

60

41.8756

3 1,1633 1,120

3 8073710378

1,563

36.1964.4

4,585

29.47419121

6.7238839

175.3

6,8686666

21

6,034569523

247.2103.2

24189.27

7248.88

72

36.1071

3 1,4013 1,3543 1,029

3 794467

2,272

34.0262.5

4,305

27.20391111

6.8236437

174.9

3 94.5105.2

23385.37

7046.35

68

50.3068

3 1,4183 1,296

3 9673911432

r2,924

178.4

377.2105.1

408r4,668

"184.5

375.3104.8

421r7,771

ibl2

335

10,247

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 109: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-19Unless otherwise stated in footnotes

below, data through 1986 and 1T Hmethodological notes are as shown in unu

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

TRANSPORTATION AND COMMUNICATION-Continued

COMMUNICATIONTelephone carriers: £>

Operating revenues # mil $Station revenues doTolls message do

Operating expenses (excluding taxes) doNet operating income (after taxes) doAccess lines mil ..

73,89731,2188,536

48,55313,140

74,65731,6699,171

50,38413,370

18,6067,8822,293

12,441'3,876111.1

18,83279742,347

12,8233,372112.4

18,9007,9532,312

13,1393,164113.2

CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Inorganic ChemicalsProduction:

Aluminum sulfate, commercial (17% A12O3) $thous. sh. tons ..

Chlorine gas (100% C12) $ do....Hydrochloric acid (100% HC1) $ do....Phosphorus elemental $ doSodium hydroxide (100% NaOH) $ doSodium silicate anhydrous $ doSodium sulfate, anhydrous $ . ... .doSodium tripolyphosphate

(100% NasPaOio) i doTitanium dioxide (composite and

pure) $ doSulfur, native (Frasch) and recovered:

Production thous met tonsStocks (producers') end of period do....

Inorganic Fertilizer MaterialsProduction:

Ammonia, synthetic anhydrous $thous. sh. tons ..

Ammonium nitrate, original so-lution $ do

Ammonium sulfate $ doNitric acid (100% HNO3) $ doNitrogen solutions (100% N) $ doPhosphoric acid (100% P2O5) $.. do....Sulfuric acid (100% H2SO4) $ do....

Superphosphate and other phosphaticfertilizers (gross weight):

Production.... thous. sh. tons..Stocks end of period do

Potash, sales (K2O) do....Imports:

Ammonium sulfate doPotassium chloride do .,Sodium nitrate do ...,

Industrial Gases tProduction:

Hvdroeen fhich and low ouritv) doNitrogen (high and low purity) .do ....Oxygen (high and low purity) do....

Organic Chemicals §Production:

Acetylsalicylic acid (aspirin) mil. Ib.Ethyl acetate doFormaldehyde (37% HCHO) .....do...Glycerin, refined, all grades ....do...Methanol, synthetic.. . mil. gal .

ALCOHOLEthyl alcohol and spirits:

Stocks end of period doDenatured alcohol:

Consumption (withdrawals) doF " f el u e d

Stocks, end of period do...

1,22210,436

2,413364

10,691791811

617

931

9,8622,748

14,474

6,0892,0806,7342,2649,578

35,759

12,710775

5,521

561291

7,536118

5,034141,815617,386346,839

'30.51 198.1

1 5,549.4295.0

1 1,085.11 863.1

645.447.5

408.6444.6226.7

23.8

1,22310,9802,495

34311,518

948805

565

952

1 9,3632,316

16,161

6,4162,1837,1022,820

10,47338,750

15,674704

6,204

307285

7,290102

5,605163,659653,970390,067

'24.21 198.3

* 6,064.4276.4

1 1,098.21,035.2

729.543.4

442.3459.7207.5

9.7

10488020828

9097569

47

83

7832,662

1,312

498159569201780

2,962

1,140552592

2025

4586

43614,52552,90429,832

5.856.2

1,613.524.6

285.7272.6

56.644.6

36.941.018.26.0

10993621026

9677366

47

76

7932,659

1,269

461187521218809

3,102

1,198616226

1513

4737

43414,86452,95631,098

21.5

60.146.7

40.037.116.58.2

10995820627

1,0047470

43

83

7992,622

1,207

387182462166900

3,428

1,438615440

108

41613

41915,35754,14831,177

23.9

63.443.9

39.440.918.98.7

11995420128

9986775

46

79

7752,567

1,238

457179552188894

3,353

1,418539552

1216

690(2)

49014,02556,89735,693

3.450.7

1,548.524.0

296.3251 7

63.838.6

39.441.418.76.0

10994120032

1,0088968

46

77

7812,488

1,403

555181629232943

3,443

1,415671400

1520

4812

42012,94960,65337,531

25.9

63.034.3

37.639419.16.3

9596619827

1,0268567

50

85

7352,404

1,357

560187629245898

3,237

1,304832366

1410

5323

42212,16759,41736,487

23.9

60.641.7

31.830.211.87.2

10598520631

1,0368270

41

78

7872,316

1,450

594181663254967

3,578

1,337704577

1417

8566

43112,56660,22637,907

5.4443

1 552622.3

27802531

66.943.4

49.340.117.99.7

10290321430

9398560

41

83

7962,250

1,409

570181647251921

3,383

1,351750699

3064

698(2)

42012,40860,58738,064

24.0

62.647.7

36.534.814.810.2

10190722130

9465965

48

81

7542,133

1,304

577191639231958

3,325

1,370762422

2622

6927

41912,21258,89436,165

23.3

61.247.4

36.535.714.311.5

10797422630

1,0316369

54

86

8151,963

1,455

639200724253996

3,547

1,392581436

2744

91212

46411,82461,29838,611

6.8470

1,536.424.9

216.7270.4

64.236.4

44.045.818.511.4

10095323330

1,0226269

53

88

1111,894

1,475

635187698285

C9943,612

1,385620688

3542

95242

41812,15258,20537,465

24.2

60.739.5

36.940.819.07.6

108'910187'30

'851'5770

47

92

7791,750

1,513

622'210678281952

3,546

'1,277780536

2124

58919

37113,17660,24038,998

24.8

11890418430

8457668

49

88

7691,577

1,393

551172614222883

3,336

1,224688392

199

38010

22.0

I

::::::::::::::::

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 110: SCB_081988

S-20 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and 1Tt.fmethodological notes are as shown in vmts

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June JuJy

CHEMICALS AND ALLIED PRODUCTS-Continued

PLASTICS AND RESIN MATERIALSProduction:

Phenolic resins mil IbPolyethylene and copolymers do....Polypropylene .... doPolystyrene and copolymers doPolyvinyl chloride and copolymers . do

PAINTS, VARNISH, AND LACQUER 0Total shipments mil $

Architectural coatings doProduct coatings (OEM) doSpecial purpose coatings do....

'1 813 51 15,983.0

1 6 256 51 7 078 41 1 283 6

94938401683578 11,898.8

(2)1 17,675.8'6633 5

(2)

7 9860

10 153 44205 1394592,002.4

4,234 91 5784

1 9909

940942933325179.2

914 141243098191.9

898539593197182.9

4,323 31 7432

1 9906

887 737583336178.3

904534283778183'.9

759 528583250148.7

4,515.21 754 1

20954

68872437306 1138.9

7597273 13420144'.5

831 03040366 1160.9

4,589.716686

20340

967 538403965187.0

979538973904199.5

1 043 9r4200r4048219.1

1075845644001219.2

ELECTRIC POWER AND GAS

ELECTRIC POWERProduction:

Electric utilities total mil kw -hrBy fuels doBy waterpower do

Sales to ultimate customers, total (EdisonElectric Institute) () mil kw -hr

Commercial § doIndustrial § doRailways and railroads doResidential or domestic doStreet and highway lighting doOther public authorities doInterdepartmental do

Revenue from sales to ultimate customers(Edison Electric Institute) <> mil $

GASOTotal utility gas, quarterly

(American Gas Association):Customers, end of period, total @ thous

Residential do ..Commercial do ....Industrial © doOther do

Sales to customers, total . . . tril BtuResidential do..Commercial doIndustrial doElectric generation doOther do

Revenue from sales to custom-ers, total mil. $..Residential doCommercial doIndustrial do .Electric generation do ....Other do ....

2 487 3102 196 465

290 844

2 355 311630 260817*396

4714820 826

14921620385 155

152 814

5096146,8183,915

17652

11126

438022382*8921 449

167

51,1942475011268105543,949

673

2 572 1272 322 432

249 695

2 440 477658 249846*876

4753849 273

14 73862*169

4*419

155 712

51797475763,994

17453

10 115

43502 1322 1581 306

169

44,828233901006572043,569

600

225 589204 72720863

578 038158 908211*040

1 122187 006

348215 275

1*204

36758

51 657

47 4184010

17654

202874738244941041

8914

43151 89514821069

153

247 915227 72120 195

247 645229 198

18446

213 008194 82818180

676 627186 440222 491

1 155244 803

3 594169961 149

45084

51174

47,0393,908

17552

1 478

38125445336228

623724611 2001 4541035

87

203 009185 05417955

200 258183 40116857

220 500199 41321 087

589 616159 110214 111

1202195 168

3771152361 018

36977

51797475763994

17453

27981246

60161429246

12329652228002050

796161

237 586215 37122214

216 813197 64819165

213 838194 32419514

638 859166 780211 402

1304238,639

375516098

881

39,012

5272048,357

4,13317554

40842,192

982640211

60

18,2381077945102,160

581208

195 818176 71719 102

208 144186 91321230

FOOD AND KINDRED PRODUCTS; TOBACCO

ALCOHOLIC BEVERAGESBeer:

Production mil bblTaxable withdrawals . doStocks, end of period do

Distilled spirits (total):Production mil tax galConsumption, apparent, for beverage

purposes t mil. wine gal-Stocks, end of period mil tax galImports mil proof gal

Whisky:Production ..mil. tax galStocks, end of period do....Imports mil proof gal

Wines and distilling materials:Effervescent wines:

Production mil wine galTaxable withdrawals doStocks, end of period doImports do

Still wines:Production doTaxable withdrawals doStocks, end of period do....Imports do

Distilling materials produced atwineries do ....

196 50178721342

8570

394225007210359

504443363

67 68

3086302315961430

4823444814598749031

14317

195 42177851294

76 51

387734550010689

3833393727092

2787r30 1214991387

r441 66r452 49601638242

14590

18 5816621542

5 86

333551208

774

34241991

482

1 74236

161381

5 134034

45385689

353

18 0917 041474

4 74

30 1847779

7 40

29341775

4 50

250138

17 8488

7583937

398927 37

377

16 81158214 17

4 21

290047348

850

2 14414 17

584

3 03129

169596

96153611

447.59603

2788

15 8214311420

6 52

31 1146986

825

1 7740883

547

286340

1872105

176153448

61761589

4261

15 50144713 66

9 24

31 09464201057

234402 15

7 01

331437

1372196

78803626

61766804

2479

13 1812581285

672

37 56543 571279

301398 12

860

280438

1617245

25703460

59820772

437

13 6912321294

4 41

481945500

696

20239372

420

230344

1499123

247837 11

60163580

679

15 8013801347

480

251244963

771

1 7938931

497

1 78213

153660

6233502

58692478

760

15 8513941385

650

448 14622

25338647

367

248124

165072

4613184

53939498

1098

17 1215261412

743

44643753

40638478

500

166151

164694

5143847

501 19611

221

1773152415.13

787

445 147 12

44638408

434

226136

172972

3844049

542.89538

310

1831164815.25

758

4 85

136191

175786

4884165

470.22569

3.50

681

427

.78

568

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 111: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-21Unless otherwise stated in footnotes

below, data through 1986 and .. .,methodological notes are as shown in unils

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued

DAIRY PRODUCTSButter:

Production (factory) .... mil IbStocks, cold storage, end of period do....Producer Price Index 1982-100

Cheese:Production (factory), total mil. Ib..

American, whole milk doStocks, cold storage, end of period do ....

American, whole milk doImports doPrice, wholesale, cheddar, single daisies

(Chicago) $ per IbCondensed and evaporated milk:

Production, case goods mil IbStocks, manufacturers', case goods, end of

period doExports do

Fluid milk:Production on farms t doUtilization in manufactured dairy

products . doPrice, wholesale, U.S. average $ per 100 Ib ..

Dry milk:Production:

Dry whole milk mil IbNonfat dry milk (human food) do

Stocks, manufacturers', end of period:Dry whole milk doNonfat dry milk (human food) do

Exports, whole and nonfat(human food) do

Price, manufacturers' average selling, nonfatdry milk (human food) $ per Ib

GRAIN AND GRAIN PRODUCTSExports (barley, corn, oats, rye,

wheat) mil. buBarley:

Production (crop estimate) ' doStocks (domestic), end of period total do

On farms doOff farms do

Exports, including malt § doProducer Price Index, No. 2 feed,

Minneapolis 1982—100Corn:

Production (crop estimate, grainonly) mil bu

Stocks (domestic), end of period, total do....On farms doOff farms do

Exports including meal and flour doProducer Price Index, No. 2, Chi-

cago 1982=100..Oats:

Production (crop estimate) mil. bu ..Stocks (domestic), end of period,

total doOn farms doOff farms do

Exports, including oatmeal .....do....Producer Price Index, No. 2, Minneapolis

1982=100..Rice:

Production (crop estimate) mil. bags # ..Southern States mills (Ark., La., Tenn., Tex.):

Receipts, rough, from producers mil. Ib..Shipments from mills, milled

rice doStocks, domestic, rough and cleaned (cleaned

basis), end of period mil IbExports doProducer Price Index, medium grain,

milled 1982= 100 ..Rye:

Production (crop estimate) mil buProducer Price Index, No. 2,

Minneapolis 1982=100 ..Wheat:

Production (crop estimate), total mil buSpring wheat doWinter wheat . . do

Distribution, quarterly @ doStocks (domestic), end of period, total do...,

On farms do....Off farms do ....

Exports, total, including flour do....Wheat only do

1 2024193.0983

5,209.327982

693.660173114

1 575

5844

45.0108

121 433

82,59612.50

12241 284 1

67579

4824

810

2,083 9

26105632486 199 36 125 6

759

746

28 249 97 10,305.5

7 6 795 573510010647

83.5

2 386.46 183 76147 2

63653.9

69.3

2 133 4

10,201

6537

3,0465 111

91.2

2195

57.0

2 2,0922 570

2 15222076

72,673.57 1,063.01,610.5

939.08837

1 104 1143.295.3

5,344.227167

457.1367.42649

(9)

5797

31.852

121,094

81,74012.54

14591 0590

80651

3878

793

2,920.4

2 5270633566 193 9614171430

J0857

27 064 179J68.576 100 073 668 51 6067

67.7

2 373.86 132 76 103 3

«2942.1

"92.5

2 127 7

9,651

7791

2,6895247

83.3

2197

54.7

2 2, 1052 542

2 15632294

7 2,505.37971.0

7 1,534.31,168.11 106.7

81 5237.9965

465.62459

659.05647184

542

8421 1

10475

735311.90

1231092

82834

270

795

2455

7

888

1199

74.5

.2

88.8

418

651

1 574254

76.7

51.3

124.61194

752211.21006

453.82353642.55471276

493

93.94

10393

7,11712.00

114995

73713

66 1

793

3047

77

862

1337

67.1

.1

85.1

271

634

1 330582

76.5

51.3

163.21570

664187.31003

426.02059606.65097249

477

100.93

10,138

6,49212.20

12.3804

63654

580

791

237.8

93

794

1 4,881.7'22845'2597 2

111 3

59.4

.2

89.8

775

875

1 057474

77.2

49.1

9402,988.51,168.01,820.5

117.01125

779176.2100.2

430.72018580.84853239

41 1

85.54

9718

6,41812.74

13.0657

57551

393

801

267.3

102

904

1352

64.8

.1

99.1

3,502

762

2639439

80.9

51.3

121.51180

91 2165.6935

448.6214 1538.04412293

500

6425

9931

650612.90

153647

64450

137

793

2579

17 1

95 1

137 7

68.3

.2

968

638

2678556

100.6

60.1

102.91004

87 9158.593 2

431.82074495.94034333

498

3483

9572

6,10812.90

128655

65451

157

783

2162

181

9,768 56 10003*6685

1225

73.1

.1

106.2

860

582

2698517

101.0

52.7

48825053

971.01,534.3

75.5690

1085143.2919

469.72326457.13674243

562

31.82

10,038

6,85112.70

12.4900

80651

137

780

278.9

161

91 4

1488

75.7

(5)

106.2

774

593

2689349

104.5

55.7

114.0109 8

1247157.3'889

432.82258452.83627198

442

40.21

10205

6,88112.50

136838

91569

219

744

2885

98

«893

1335

«73.3

.28 107.0

648

556

2614409

8 107.4

8 54.9

145.01379

117 1198.8886

428.82210445.93575171

416

51.86

9740

6,84712.30

134858

90635

120

738

2749

72

893

7,635.24421 032142

1237

80.8

.2

110.7

600

596

2496299

115.4

54.9

60119234

74801,175.4

143.81417

1164221.188.8

483.92446443.1354.1

16.9

530

59.72

10,647

7,55211.90

12.9958

66562

281

734

327.7

158

977

1639

80.2

.1

103.0

420

491

2310411

117.7

50.5

148.01473

1117239.888.8

473.1251.8453.3360.6

16.6

54.4

71.32

10,593

7,48911.60

15.71026

84708

153

.734

328.9

9.0

1066

1663

80.1

.2

94.3

278

400

2,145333

116.4

46.9

153.4151.6

1079282.588.8

490.22587460.1366.7

16.7

513

85.19

11,041

7,83211.40

16.7104 1

93741

296

735

63213619316 128 2

50

1024

3 5,833.03 3,240 63 2,592 4

1794

81.3

•111.967686351

.3

116.0

258

525

1,826486

120.5

53.5

4 1,266.24 520.0<746.2148.11461

91.7r294.7

90.7

474.4245.2

'481.8r382.4

20.0

54.5

94.36

10,480

7,59211.30

14.11046

106677

402

.740

274.1

12.4

1254

1329

102.4

.4

162.5

277

465

1,577278

117.5

93.8

128.41215

294.192.1

485.1376.7

10,513

"11.40

"287.7

122.8

"4,479.4

115.5

"206.3

159.8

"152.6

163

428

1,283

114.9

82.1

" 1,821"266

" 1,555

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 112: SCB_081988

S-22 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

methodological notes are as shown in Units

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FOOD AND KINDRED PRODUCTS; TOBACCO— Continued

GRAIN AND GRAIN PRODUCTS-ContinuedWheat— Continued

Producer Price Indexes:Hard red winter, No. 1, ord. protein (K.C.)

1982=100..Hard red spring, No. 1, ord. protein (Minn.)

1982=100..Wheat flour:

Production:Flour thous. sacks (100 lb.)..Millfeed thous. sh. tons ..

Grindings of wheat thous buStocks held by mills, end of period

thous. sacks (100 lb.)..Exports doProducer Price Index 6/83—100 ..

POULTRY AND EGGSPoultry:

Slaughter mil. lb..Stocks, cold storage (frozen), end of period,

total mil lbTurkeys do

Price, in Georgia producing area,live broilers $ per lb..

Eggs:Production on farms mil cases §Stocks, cold storage, end of period:

Shell thous cases §Frozen mil lb

Price, wholesale, large (delivered; Chicago)$ per doz..

LIVESTOCKCattle and calves:

Slaughter (federally inspected):Calves thous. animals-Cattle do

Prices, wholesale:Beef steers (Omaha) $ per 100 lbSteers, stocker and feeder

(Kansas City) doCalves, vealers (So. St. Paul) do....

Hogs:Slaughter (federally inspected) thous. animals..Prices:

Wholesale, average, all weights (Sioux City)$per lOOlb..

Hog-corn price ratio (bu. of corn equal invalue to 100 lb. live hog)

Sheep and lambs:Slaughter (federally inspected) thous. animals..Price, wholesale, lambs, average (Omaha)

$per lOOlb..

MEATSTotal meats (excluding lard):

Production mil lbStocks, cold storage, end of period do....Exports (meats and meat prep-

arations) doImports (meats and meat prep-

arations) doBeef and veal:

Production, total doStocks, cold storage, end of period doExports doImports doPrice, wholesale, beef, fresh steer carcasses,

choice (600-700 Ibs.)(Central U.S.) $ per lb

Lamb and mutton:Production, total mil lbStocks, cold storage, end of period do....

Pork (excluding lard):Production, total doStocks, cold storage, end of period do...Exports doImports doPrices:

Producer Price Index, Hams, smoked1982=100.

Fresh loins, 8-14 lb. average,wholesale (N.Y.) $ per lb.

MISCELLANEOUS FOOD PRODUCTSCocoa (cacao) beans, imports

(including shells)... . . . . thous. Ig tonsCoffee:

Imports, total thous. bags <>.From Brazil do

U.S. Import Price Index t 1985=100 .Fish:

Stocks, cold storage, end of period mil lb

73.4

72.5

326,3165,799

737,537

5,22823,741

91.4

18,039

369178

.325

190.0

2213

.681

3,19535,913

57.74

60.3859.92

77,290

50.73

26.1

5,464

67.54

39,050564

1,722

2,544

24,722318884

1,505

.890

33013

13,998197133928

102.0

1.285

201.5

19,4832,200132.5

340

70.6

68.8

338,4846,135

760,459

5,85826,367

89.7

19,882

501282

.265

193.0

4317

.579

2,67934,468

64.60

71.3278.92

78,913

47.11

33.6

5,042

75.77

38,442623

2,017

2,755

23,821293868

1,599

.972

3108

14,312285155

1,017

104.2

1.265

258.5

19,9063,928

81.6

421

67.1

66.5

28,461525

63,665

5,5812,23390.1

1,772

593382

.250

15.6

3217

.556

2142,945

68.83

70.2190.63

5,987

61.37

35.0

407

85.42

3,103499

167

268

1,99325769

168

1.057

2412

1,0861891089

100.4

1.460

10.2

2,181363

79.8

320

65.1

65.7

27,384499

61,729

2,63388.4

1,752

676473

.250

16.1

3417

.554

2203,009

65.80

71.2277.50

6,019

62.69

37.3

411

74.02

3,158516

177

277

2,05128376

178

.993

259

1,082181

987

103.4

1.395

10.6

1,717345

354

64.5

64.4

29,538529

65,710

1,90288.0

1,662

745560

.295

16.1

3217

.587

2022,972

64.50

75.3179.22

6,019

60.56

39.9

400

70.86

3,135496

178

244

2,03727371

149

.954

248

1,0751751084

103.1

1.429

14.0

1,481275

394

70.7

69.9

29,067522

65,188

5,2581,52890.1

1,807

842641

.255

15.8

3316

.648

2292,977

64.81

77.1080.25

6,855

55.19

36.4

459

67.14

3,331523

180

249

2,07529077

150

.969

287

1,2271861285

108.3

1.413

5.6

1,770523

76.9

421

72.1

72.6

31,068546

68,900

1,08191.3

1,850

841630

.230

16.5

5118

.555

2333,024

64.81

73.2182.50

7,519

49.28

31.3

446

66.00

3,521576

176

244

2,13431278

135

.968

287

1,359212

1694

113.2

1.218

22.1

2,631745

436

69.6

70.6

29,539526

66,152

2,77790.1

1,598

530322

.235

16.1

4017

.563

2112,640

64.20

74.9282.50

7,121

40.74

25.1

399

63.50

3,197614

191

191

1,8603098090

.953

25g

1,3122522286

113.1

1.019

23.9

1,246239

447

78.0

77.7

27,706494

61,925

5,8581,77990.0

1,694

501282

.220

16.7

4317

.521

2422,793

63.93

73.6983.00

7,583

41.56

23.4

439

72.44

3,378623

181

156

1,9602937265

.945

288

1,3902852280

117.7

1.042

43.9

1,056161

85.5

421

278.8276.5

26,199473

58,833

3,05791.2

1,618

526299

.245

16.6

6718

.512

2052,832

65.00

80.2686.88

6,803

44.59

24.3

380

78.17

3,242656

159

290

1,97531765

198

.972

248

1,244287

1477

2 101.8

1.245

27.0

1,175357

419

82.6

83.8

25,601460

57,590

88394.4

1,618

562335

.230

15.7

5318

.489

2032,679

68.31

81.6487.50

6,519

47.45

25.0

408

79.38

3,070693

153

238

1,86033260

134

.995

268

1,183308

1690

99.6

1.150

30.0

1,683373

395

75.1

75.5

26,498476

60,371

5,719273

'90.6

1,779

594353

.250

16.6

6714

.536

2162,812

71.53

83.1287.50

7,505

43.19

22.7

535

79.50

3,354716

165

280

1,95831768

168

1.035

357

1,360346

1597

99.6

1.098

26.7

1,426276

3928

372

79.1

79.6

25,660453

57,583

78293.5

1,648

628384

.255

15.7

1417

.479

1692,707

72.71

82.6196.41

6,929

42.28

22.3

388

0)

3,158758

179

247

1,87030972

154

1.052

268

1,2633962281

93.1

1.142

18.3

1,179315

381

76.8

81.6

'28,944r515

'64,858

83194.0

1,759

639422

.315

16.0

2120

.471

1712,830

75.15

78.9997.66

6,713

47.75

23.7

414

75.17

3,206720

191

230

1,94827873

135

1.117

278

1,2313892682

92.7

1.298

14.7

1,141233

367

93.6

104.0

28,257498

62,929

5,2262,941106.4

1,810

'674467

.340

15.3

3025

.528

2042,983

70.58

70.77100.88

6,715

48.26

19.5

413

58.80

3,317r669

198

276

2,058r25174

178

1.064

279

1,232r363

3785

91.8

1.315

21.0

832250

92.2

'384

93.9

97.9

106.0

704503

.425

15.8

2823

.698

2072,897

65.96

74.1477.50

6,199

45.60

15.3

387

57.55

3,170653

2,013254

.971

248

1,133338

91.4

1.259

"375

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 113: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-23Unless otherwise stated in footnotes

below, data through 1986 and .. ,fmethodological notes are as shown in vnna

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.

MISCELLANEOUS FOOD PRODUCTS-Cont.Sugar:

'

Producer Price Indexes:Raw (cane) 1982—100Refined do

TOBACCOLeaf:

Production (crop estimate) mil IbStocks, dealers' and manufacturers',

end of period doExports, incl. scrap and stems thous. Ib..Imports, incl. scrap and stems do .

Manufactured products:Consumption (withdrawals):

Cigarettes (small):Tax-exempt millionsTaxable .. do

Cigars (large), taxable . . . doExports, cigarettes do ....

454 3941 913

10491033

197 963

1 1,164

4979466,630457 658

74301583 020

290963,945

617 9471 275

11031064

170 616

rl 1 191

4471425,886489 861

111 200576 998

r2658100,246

34 37174

111 01068

12 421

4435

20,73238027

11 60861753

2819,026

52 906167

111 61072

12 838

19,40853,679

954737894

1818,965

27 60965

111 21071

13 538

15,65847,834

1013649814

2119,835

26 994139

11091074

11 207

445521,64030,372

1013650955

2459,695

3343187

11061071

15 569

28,09640,936

11 11048564

2419,639

32577128

11011071

12 562

53,73443,352

1048852556

2038,996

4078751

10971065

11 480

4471

64,84233,135

951148508

2098,985

11 43578

4 109 74 105.714377

72,02233,369

8,72832,441

1457,583

25483104

111.4107.0

15800

37,69228,984

10,31146,100

1859,500

1432578

111.4106.7

17 770

4,17648,36440,392

1019555,291

2149,478

2471684

111.9107.4

19962

56,74043,969

9,28644,825

1889,058

9873106

111.8107.1

18596

34,93340,121

10,31651,609

21510,110

45,88368

112.7106.6

19386

22,77841,363

! 10,271

118.2108.1

5 1,262

LEATHER AND PRODUCTS

LEATHERExports:

Upper and lining leather thous. sq. ft..Producer Price Index, leather 1982—100 ..

LEATHER MANUFACTURESFootwear:

Shoes, sandals, and play shoes,except athletic thous pairs

Slippers doAthletic . . . d oOther footwear . do

Exports doProducer Price Indexes:

Men's leather upper, dress and casual1982=100..

Women's leather upper do....Women's plastic upper do....

160,888122.9

241 388

176 1115592793502971

10277

107.2104.3106.6

194 152140.9

220 508

39895

4 15014 713

111.4107.2104.9

19585143.1

20 025

149294480

616322

1 175

109.8106.5

95.0

15,455142.3

15622

122402897

485215

1226

111.8107.1104.5

15,015141.0

19852

(3)

3935(3)

2941268

113.0107.5105.9

14,806145.6

20 159

(3)

4282(3)

3231 285

113.3108.9105.9

13,557148.6

19947

(3)

4297(3)

2661425

114.1108.3105.8

15,703149.6

17 641

(3)

3823(3)

2641539

112.7108.3106.6

14,677153.0

14854

12 1082252

494230

1236

115.6109.0107.2

16,0334 158.0

15349

(3)2675(3)

2671,278

4 117.24 110.74 107.4

18,431160.1

19 018

(3)

3470(3)

2821,603

119.6111.4107.4

18,430171:1

19763

(3)

4371(3)

2831,903

rl 19.7r111.8107.2

14,647174.8

17 520

(3)

3,827(3)

2901,495

120.0112.1107.2

19,273176.0

18314

(3)

4,216(3)311

1,369

120.5111.5107.3

17,623164.5

1,443

120.1111.9107.3

162.9

122.0113.0107.3

LUMBER AND PRODUCTS

LUMBER—ALL TYPES #National Forest Products Association:

Production total mil bd ftHardwoods doSoftwoods do

Shipments, total . doHardwoods .. doSoftwoods do

Stocks (gross), mil, end ofperiod, total doHardwoods doSoftwoods do

Exports, total sawmill products doImports, total sawmill products do....

SOFTWOODSDouglas fir:

Orders, new . mil bd ftOrders, unfilled, end of period doProduction doShipments . doStocks (gross), mill, end of period . doExports total sawmill products do

Sawed timber doBoards planks scantlings etc do

Producer Price Index, Douglas fir, dressed1982=100..

2 42 67627403

2 35 273242 618

27486235 132

65491 5095040

14,607

9 570668

94129430

881522105417

124.5

2 46 0532 8 143

237 9102 47 090^9045

2 38 045

6 1831 4124 771

15,217

10 325r548

10 35410445

r790684138546

125.1

3 905461

34444039

4923 547

62331 3064 927

1,383

r985r705r979

1 035r844

552134

121.5

3 662470

3 1923671

4803 191

62371 3094928

1,329

r813r696r837r822r859

538

45

124.6

3 737613

3 1243812

6093 163

59791 2244 755

1,182

r905T748r849r853r855

579

48

127.6

3 617586

30313 540

6092931

60881 2334 855

1,449

r708r626r839r830r864

548

45

138.2

3 942*620

3 1224034

*6463388

60021 2134 787

1,264

''869r569T863r926r801

578

48

128.2

3 458279

28703470

3012836

59701 1474 823

1,210

r710r555r757r724r834

609

52

126.1

3 829998

283138651 0232*842

6 1831*4124 771

1,146

r725r548r688r732r790

621349

127.7

3814955

285937901 0252765

62511 3844867

991

r766r619r728r695r823

557

48

129.8

4042951

309140921 0843008

628213324950

1,134

r741r573r822r787r858

611051

130.9

438910933,296432010683252

634113474994

1,338

r898r683r839r788r909

658

57

131.6

r4247l'0!3

r3,234r4257

r967r3,290

63021,3634939

1,186

r786r620r818r849r878

912566

136.5

42451,0303,2154,2611,0013,260

6,2571,3634894

1,259

r817r619r834r818r894

771265

134.3

1,406

844626734837791761165

138.2 145.7

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 114: SCB_081988

S-24 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and T1 ..methodological notes are as shown in Units

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

LUMBER AND PRODUCTS—Continued

SOFTWOODS-ContiriuedSouthern pine:

Orders, new mil bd ftOrders, unfilled, end of period .. doProduction doShipments do

Stocks (gross), mill and concentration yards,end of period mil bd ft

Exports total sawmill products thous bd ftProducer Price Index, southern pine,

dressed 1982= 100 ..Western pine:

Orders new mil bd ftOrders, unfilled, end of period do....Production doShipments. ... . doStocks (gross), mill, end of period do

Producer Price Index, other softwood,dressed 1982= 100 ..

HARDWOOD FLOORINGOak:

Orders unfilled end of period mil bd ftShipments doStocks (gross), mill, end of period do....

'11 593'?10

1 11 6781 11 562

2010187 258

104.9

10500451

10 482104821312

109.7

751453

7.4

; 12 575'835

; 12 4371 12 450

1 997263 166

114.1

11 427524

11 40711354

1365

119.0

11 01739

8.7

1 156100510711092

1 94919877

116.1

1087r608

1 06310621306

119.0

1351595.9

857792

10861074

1 96018413

122.9

r902r552r938r958

1286

119.0

16 11456.2

1 035848

10071016

1 95013738

120.7

1041r583

10051 0101281

119.9

1391586.6

761600

1004953

200121 243

120.8

r810'529r903r864

1320

124.4

1181687.8

1213681

11021091

201330856

113.7

1 076'548

105810571321

120.4

1281738.6

891618929956

1 98631 673

113.5

r859r504r935r903

1353

119.4

1071438.5

1 024835994947

1 99729668

115.9

r889524

r881r869

1365

116.4

11 01228.7

843894938909

202630745

•118.1

1-979'620r889r883

1371

2116.1

1131508.9

985933966946

204627715

119.6

r961'607r997r974

1394

116.9

1091529.6

1090789

1,1241,113

205633503

118.4

1026r621

1 Oil1,012

1,393

120.0

1231818.9

1063576

1,0851,073

r206833770

118.6

987577999

10311,361

120.9

1341599.6

1 155832

1,0811,101

204937449

115.7

1032598968

1,0111,318

121.3

11816.910.0

38499

115.2

901564839935

1,222

124.4

10.219.210.1

114.9

126.7

10.113.010.4

METALS AND MANUFACTURES

IRON AND STEELExports:

Steel mill products thous sh tonsScrap doPig iron do

Imports:Steel mill products do....Scrap doPig iron do

Iron and Steel ScrapProduction thous sh tonsReceipts net doConsumption doStocks end of period doComposite price, No. 1 heavy melting scrap:

American Metal Market * $ per long ton

Ore

Iron ore (operations in all U.S. districts):Mine production thous Ig tonsShipments from mines doImports doU.S. and foreign ores and ore agglomerates:

Receipts at iron and steelplants do

Consumption at iron and steelplants do

Exports (domestic) doStocks, total, end of period do

At mines... doAt furnace yards doAt U S docks do

Manganese (manganese content),general imports , ..do ....

Pig Iron and Iron ProductsPig iron:

Production (including production offerroalloys).... thous. sh. tons.

Consumption doStocks end of period do

Castings, gray and ductile iron:Shipments total thous sh tons

For sale . .. doCastings, malleable iron:

Shipments, total . . doFor sale . ..... . do

92911 704

47

20,698724295

2633337928658564344

74 17

388251 41*32716749

51 307

552836501

22 1333255

17 1631 987

883

43,952Ml 789

226

83335536

320154

1 12910367

50

20,414843355

r24 730r46 105r69 615

r4821

8573

4689447 25716601

58596

600876 121

209441 616

163042 024

801

1 48 1371 49 875

281

95986342

431202

991 258

12

1,6976030

2 142368256674316

7667

425353541948

6127

50351463

193138342

10006965

95

4,0794 123

239

875559

4120

841 073

1,7236214

2044349054344*363

78 29

3 78450521 173

6078

4684414

195447074

11 3501 120

57

42354255

258

786535

3214

91862

1

1,6244728

2039392960014291

8273

4 39153321*817

5994

5139438

193916 132

122071 052

58

41654327

262

774539

3016

99779

4

1,6007125

2 1374 18462554279

91 35

4 7595 6041*452

6330

5 194626

196545288

133431 023

62

4,2084327

260

797482

3919

86809

2

1,6518853

2288466766244505

10990

463357011493

6662

5450647

203154276

145541 485

85

44074664

256

962650

4219

114782

2

1,8128953

2 in43506 1844695

10969

r4634r53572238

6292

5395441

205893571

154521 566

116

4,3514599

275

770533

3013

1101 009

2

1,72812554

2 130433

62144811

101 37

4 50854611415

6598

5765644

209442616

16 3042 024

101

4,4474647

274

690461

3518

8964915

1,81089

136

2 1384 55869884487

9972

408322891467

4559

5751223

21 3344410

149801 944

85

4,6834472

240

674428

3518

100630

1,9168654

r2331r4 153r6331r4623

11455

42781 327

986

2714

550427

212617351

12 1901 720

64

4,443r4647

r225

722477

3416

114724

3

1,8446911

2420442866474731

11393

42431 153

900

2952

5,90384

20363103989,239

726

96

4,8424914

214

844539

4623

11690318

1,53310277

10960

1,646

6053

5,707548

9,5851 023

128

4,699

r803r535

r3819

1241006

10

1,9363967

10463

1,588

6,673

6,118363

10,1361 022

63

4,932

869591

3415

1261288(2)

1,9796584

10252

1,974

677

118

4,497 4,762

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 115: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-25Unless otherwise stated in footnotes

below, data through 1986 and IT .tmethodological notes are as shown in Llnit8

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

Jun. July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

METALS AND MANUFACTURES—Continued

Steel, Raw and SemifinishedSteel (raw):

Production thous. sh tonsRate of capability utilization percent..

Steel castings:Shipments, total thous. sh. tons..

For sale, total do

Steel Mill ProductsSteel products, net shipments:

Total (all grades) thous sh tonsBy product:

Semifinished products . doStructural shapes (heavy),

steel piling doPlates doRails and accessories doBars and tool steel, total do

Bars: Hot rolled (includinglight shapes) do

Bars: Reinforcing doBars: Cold finished do

Pipe and tubing doWire and wire products do....Tin mill products do....Sheets and strip (including electrical),

total doSheets: Hot rolled doSheets: Cold rolled ... do

By market (quarterly):Service centers and distributors doConstruction, incl. maintenance do ....Contractors' products doAutomotive doRail transportation doMachinery, industrial equip., tools do....Containers, packaging, ship,

materials doOther do

Producing steel mills, inventory, end of period:Total.... mil sh tons

Steel in process doFinished steel do

Service centers (warehouses), inventory, endof period mil sh tons

NONFERROUS METALS AND PRODUCTSAluminum:

Production, primary (dom. and foreign ores)thous. met. tons ..

Recovery from scrap "I1 doImports (general):

Metal and alloys crude doPlates sheets bars etc do

Exports:Metal and alloys, crude doPlates, sheets, bars, etc do....

Price, U.S. market, 99.7% purity,monthly average $ per Ib

Aluminum products:Shipments:

Ingot and mill prod (net ship ) mil IbMill products total do

Sheet and plate doCastings do

Inventories, total (ingot, mill products, andscrap) end of period mil Ib

Copper:Production:

Mine, recoverable copper thous. met. tons.

Electrolytically refined:From domestic ores @ doFrom foreign ores do

Electrowon . doRefined from scrap A do

Imports, unmanufactured (general):Refined, unrefined,

scrap (copper cont.) do...Refined do

Exports:Refined and scrap do...

Refined do ...Consumption, refined

(reported by mills, etc.) <> do...Stocks, refined, end of period 6 do...Price, avg. U.S. producer cathode, delivered §

$ per Ib .

81,60663.8

829799

' 70,263

4,9541 4,5283,565

64012,171

6,5594,2991,2572,8361,0803,802

36,686'12,167'13,250

' 15,2511 5,141'2,559'9,871

'674' 1,323

4,075'23,367

13.27.35.9

5.7

3,0361,739

1,468.4495.3

228.6203.3

.5587

14,38611,4166,6292,187

4,928

1,147.3' 1,073.2

'947.940.2

125.4'406.2

667.5503.1

497.114.9

'2,102'225

.6605

'89,15179.5

874850

76,654

'5,456

5,1204,048

515'13,575

7,238'4,918

1,3613,5701,1053,988

39,27913,04813,859

' 18,6295,6192,701

'11,135734

2,096

4,371'31,337

11.36.74.6

6.4

3,3431,847

1,378.0452.3

309.9284.5

.7230

15,58412,2347,3792,056

4,175

1,255.91,146.0

987.1

158.9414.6

657.3515.6

454.817.9

2,139173

.8249

7,34979.7

6159

6,656

541

458328

391,117

65634211534197

358

3,3771,1121,200

4,1131,335

6132,415

157372

1,1276,841

11.5r6.64.9

5.7

272156

133.639.4

16.128.5

.7254

1,4331,147

699170

4,474

102.594.0

80.6

13.435.1

80.269.3

33.01.1

188173

.7435

7,32477.3

6765

6,295

485

43434337

1,037

473361114317

94361

3,1841,0751,124

11.36.64.7

5.8

282155

120.639.5

29.019.4

.7424

1,3461,052

619137

4,393

105.090.5

76.5

iio29.5

45.737.0

39.7.6

151201

.8042

7,49479.1

7372

6,364

546

42934540

1,089

591380113

32387

351

3,1541,0231,126

11.36.64.7

5.7

286158

106.132.8

30.623.2

.8166

1,2611,010

594157

4,303

108.390.2

76.8

13.433.2

57.345.0

38.0.5

177188

.8218

7,69483.9

8078

6,726

574

46938239

1,189

676390118

34090

339

3,3031,0411,163

4,9251,474

7002,467

176521

1,1467,981

11.16.44.7

5.7

286160

105.333.0

30.720.6

.8069

1,3341,033

621169

4,152

106.4102.8

89.0

13.834.5

42.428.6

36.5.8

185179

.8561

8,07384.4

8079

7,077

545

487415

54

1,176

671371128

37095

317

3,6171,1631,297

11.06.44.6

5.8

301155

124.242.1

22.722.9

.8439

1,3071,038

613192

4,211

107.5109.8

95.4

14.435.8

50.535.9

36.1.7

178151

.8885

7,88285.2

7877

6,606

550

444393

40

1,114

607388114

34984

297

3,3351,1101,142

10.76.34.4

6.0

301152

103.638.2

32.125.6

.8016

1,219944

176

4,245

109.7111.8

95.9

15.930.8

56.340.8

38.52.3

179116

1.0853

7,91682.8

8079

6,977

525

44642940

1,082

582385110

35975

435

3,5861,2381,245

5,2911,470

8072,765

218563

1,1588,392

11.36.74.6

6.4

316145

101.637.2

39.126.8

.8339

1,3531,055

696154

4,175

111.4115.6

98.5

17.137.1

48.63.1.1

50.53.2

180114

1.3332

8,38088.1

7270

6,608

569

44559338

1,030

581323121

36388

260

3,2201,0091,127

11.97.14.8

6.4

320149

111.636,0

20.325.8

.8971

1,165919537164

4,344

113.8103.6

90.4

17.034.5

68.449.4

35.54.9

17612

1.3250

7,98489.7

8280

6,848

515

470608

42

1,187

742329111

36594

274

3,2951,0331,141

12.17.15.0

6.7

304155

101.436.4

15.125.5

.9628

1,163964564182

4,401

105.5105.4

90.2

15.336.3

64.138.0

50.22.0

182136

1.0752

8,76392.2

9593

7,693

512

48668943

1,246

714390136

457103334

3,8231,2341,306

5,1851,493

7402,910

287656

9908,745

11.86.94.9

6.8

330175

115.649.7

21.835.1

1.0709

1,3981,138

685213

4,388

123.7115.9

97.7

18.343.2

63.639.0

56.63.8

209138

1.0972

8,39891.4

87'85

7,082

497

443620

45

1,183

650395133

439106353

3,3951,0561,181

2 1,6692 5012 236

2 1,0012 1082 229

2 3732 2,965

12.07.05.0

6.9

324166

98.134.4

23.028.9

1.0712

a,2461,033

r608192

4,423

1164114.8

97.3

17.536.9

51.033.7

51.45.7

177136

1.0364

8,83293.1

9996

7,187

502

47563245

1,235

691418120

41193

342

3,4521,0651,190

2 1,6332 5292 229

2 1,07821032 210

2 3712 3,034

12.57.45.1

7.0

336157

101.532.9

38.036.7

1.1448

1,3161,058

636210

4,389

111.8

93.2

18.639.1

48.025.9

67.17.7

189118

1.0437

8,03187.4

7,422

497

43368643

1,248

711410121

417109376

3,6141,1101,243

2 1,7222 5322 242

2 1,1092 1252 227

2 4002 3,065

88.835.9

47.832.0

1.2627

43.425.1

77.69.5

8,31388.0

::::::::::::::

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 116: SCB_081988

S-26 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and „ .,methodological notes are as shown in unu

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

METALS AND MANUFACTURES—Continued

NONFERROUS METALS ANDPRODUCTS-Continued

Copper-base mill and foundry products,shipments (quarterly total):

Brass mill products mil IbCopper wire mill products

(copper content) . doBrass and bronze foundry products do

Lead:Production:

Mine, recoverable lead thous met tonsRecovered from scrap (lead cont ) do

Imports (general), ore (lead content),metal do

Consumption total doStocks, end of period:

Producers', ore, base bullion, and in process(lead content), ABMS thous. met. tons..

Refiners' (primary), refined and antimonial(lead content) thous met tons

Consumers' (lead content) Q .... doScrap (lead-base, purchased), all smelters

(gross weight) thous met tonsPrice, common grade delivered ® @ $ per Ib

Tin:Imports (for consumption):

Ore (tin content) metric tonsMetal, unwrought unalloyed do

Recovery from scrap total (tin cont ) doAs metal .... . do

Consumption, total doPrimary do

Exports, incl. reexports (metal) do..Stocks, pig (industrial), end of

period doPrice, Straits quality (delivered) $ per Ib

Zinc:Mine prod recoverable zinc thous met tonsImports (general):

Ores (zinc content) doMetal (slab blocks) do

Consumption (recoverable zinc content):Ores doScrap all types do

Slab zinc: @Production, total $ thous. met. tons ..Consumption fabricators doExports doStocks, end of period:

Producers', at smelter (ABMS).. doConsumers' do

Price, high grade $ per Ib..

MACHINERY AND EQUIPMENTHeating, combustion, atmosphere equipment, new

orders (domestic), net, qtrly # mil. $.,Electric processing heating equipment doFuel-fired processing heating equip do

Material handling equipment (industrial):Shipments t • do ...

Industrial supplies, machinery and equipment:New orders index seas adjusted 1977 — 100

Industrial suppliers distribution:Sales index, seas, adjusted 1977 — 100Inflation index, not seas. adj. (tools, material

handling equip., valves, fittings, abrasives,fasteners, metal products, etc.) 1977 = 100.

Fluid power products shipments indexes:Hydraulic products § 1985 100Pneumatic products § .. do

Machine tools:Metal cutting type tools:

Orders, new (net), total mil. $.Domestic ... do

Shipments, total doDomestic do

Order backlog, end of period do...Metal forming type tools:

Orders new (net) total doDomestic .. do

Shipments, total . doDomestic do

Order backlog, end of period do..

2318

1792478

3398'6149

10341 1248

74.0

200838

1942205

40303576872433714

50100374003,022

48024 3 6991

2030

1977667 1

21 9273 8

269.9/7060

1 9

155'54 2.3800

148.2655826

119 1

145.0

164.7

9898

1,544.251 376 551 890.301 684 70

897.2

581 05506806882062135

307.1

2624

1922528

'31051 682 1

2403n\ 171 3

59.2

21 6677

2403594

296741 15111 9841 457

1 53 10039800

1,701

44284 1878

2132

42557059

60'2856

220.51 047 0

1 1

7 0455

.4192

'2260549

'171 1

1287

149 1

166.6

107105

1,451 451 294 451 676 501 498 85

672.2

667 3553605647 1553790327.3

637

483135

262539

23 51002

58.4

186595

23 83693

3036916110

42003200

164

66634 1449

178

372534

5233

16.6606

(2)

9744 1

.4505

48217 231 0

1263

1437

166.5

117104

114.959885

1651014820770.9

87 80784568055465327.4

289599

262943

58.6

106609

2554167

7324196

786114

4,4003,500

180

428840309

17 5

357664

5248

13.6556

1

74443

.4567

1246

1531

166.3

108113

102.1084 60

13630127 90736.7

6090439061505435326.8

240634

243997

67.7

11 0643

27 64200

4223009

87594

44003500

135

53734 1148

188

38 568 5

523 4

14.961 4

2

7 143 5

.4443

128 0

1554

166.5

104104

96359025

118359985714.7

4565366040053360332.4

598

485131

28 1533

284108 2

67.0

11 5654

27 34200

3369905102

44003500

74

553342073

182

327613

523 1

15.559 1

3

64423

.4259

1010153857

131 2

1513

166.9

105109

126.10116751431012665697.7

5675403557354800331.8

284673

19?115 1

69.7

149655

27 14200

564 168

88894

43003300

77

640242480

18 2

548670

5250

16.360 1

6941 8

.4175

1347

1558

167.1

113116

198.15187 1513485117 95761.0

692559 5574806325326.2

23 1559

21 81028

62.8

181682

2444200

3403881

9446003,600

84

546043328

158

328565

c

250

14.6590

55401

.4238

1382

153.8

167.4

103107

89.106575

125.95110 20724.2

48203635521038.40322.4

617

481135

25455 1

27 197 2

59.2

216677

2404200

2941 779

838111

44003400

179

442842777

18 1

31 1634

527 4

16.4844

1

70455

.4331

494108386

140 1

1478

169.0

101108

175.25154802262020890672.2

6715546562204405327.3

27 9522

21 2960

57.0

218702

2263800

4002761

84688

4,6003,600

87

449042659

168

344532

226 1

14.979 5

(2)

66443

.4444

1425

153.5

168.9

119108

223.9520575

70.2061 60825.0

73556030721564.05328.7

28257 5

21 9964

59.9

266607

17 03485

1282582

932119

4,7003,700

185

598941950

18 2

272486

2231

16.4764

1

44460

.4544

1404

155.0

168.0

126120

250.40217.95108.909700966.4

476540 90575548.10318.8

360601

2641154

53.9

25858.9

1773400

1213153

94192

4,8003,800

171

563142407

223

326717

2225

17.51103

4.545.0

.4790

43.818.2257

1355

162.0

170.2

137136

191.90174.15137.75123951,020.6

62.5547.9068.9561.80312.4

327559

222r988

59.0

267r593

1733400

3353011

79388

4,7003,700

96

586842295

21 9

389664

2228

16.4r979

3.4r41.5.5150

1345

161.3

171.3

134118

195.30146.4595.308220

1,120.6

577047.0062.1051.70308.0

522

2081048

57.8

241547

17 13457

341991796

5,3004,200

108

658442500

220

379845

2228

16.31000

4.342.2

.5604

1382

155.5

171.9

127117

242.85205.65111.25100251,252.2

r81.85r73.2568.4557.35321.4

87

60.8

4,042

126

24.657.3

16.3

(2)

4.5

.6255

1334

159.1

172.1

136124

r238.35r210.65132.80116.001,357.8

144.45134.60

r81.25r69.25384.6

16.4

6.2

162.4

172.3

187.30167.80134.60126.00

1,410.4

68.9554.1553.7044.05399.8

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 117: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-27Unless otherwise stated in footnotes

below, data through 1986 and , -umethodological notes are as shown in Lnlts

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

METALS AND MANUFACTURES—Continued

MACHINERY ANDEQUIPMENT— Continued

Tractors used in construction, shipments, qtrly:Tracklaying (ex. shovel loaders) units ..

mil. $ ..Wheel (contractors' off-highway) ... units

mil $Shovel loaders $ units

mil $

ELECTRICAL EQUIPMENTBatteries (auto.-type replacement),

shipments thousRadio sets production total market $$ thousTelevision sets (incl. combination models),

production, total market ££ thous ..Household major appliances (electrical), factory

shipments (domestic and export) # thous..Air conditioners (room) do....Dishwashers . . doDisposers (food waste) do....Microwave ovens/ ranges @ do....Ranges doRefrigerators doFreezers doWashers do....Dryers (incl. gas) do....

Vacuum cleaners (qtrly.) do

GAS EQUIPMENT (RESIDENTIAL)Furnaces, warm air, shipments thousRanges, total, shipments doWater heaters (storage), automatic,

shipments do....

8,440821.259994219

537231 6790

603062 25 364

23,351

45,0722,81639184,269

12,4443318651012225,7654,2459660

21051940

3,729

r9,668r973.8r5482r4155

r62 8251 8195

5987826 775

23,497

47,8383,79840324,438

12,6103346697212605,9984,637

10,417

20732143

3,951

2,891278.41 5281118

169344695

53282435

2,094

4,804656369357

1,027289821136602426

2202

140183

330

50152507

1,484

r3,975350322

r344r875286732137484363

157164

297

5,7322524

1,836

3,934196335357978290700138520381

203164

290

2,706270.214371127

168094730

65423 152

2,373

4,20793

342409

1,277289619109596450

2,860

234200

312

68892944

2,217

4,04784

355436

1,31830755287

497403

241210

361

53872609

2,199

3,67662

336325

1,21028549993

470391

194188

310

r2,332r264.012651035

16 620r4996

54181 473

2,232

3,626170331325

1,14925547086

454370

2,733

179197

369

55241 329

1,544

3,55720030736195723544491

531413

157159

355

4 1941 567

1,810

3,72432429836095024447789

519393

134169

320

2,609276.01243

99.415 1964845

46061 528

1,909

3,95570230836176125151282

498359

2,733

148171

334

40311 518

1,710

3,895686334306778253533108471328

125163

329

4,1221736

1,582

3,949647326324697244616112515353

118168

317

4,9882284

1,931

4,463835330336789260753126546383

2,487

176

1,485

3,824405312345746252778156460328

PETROLEUM, COAL, AND PRODUCTS

COALAnthracite:

Production f thous. sh. tons-Exports doProducer Price Index ....1982=100..

Bituminous:Production "1" ... thous sh tonsConsumption, total t do

Electric power utilities doIndustrial, total do

Coke plants (oven and beehive) do .Residential and commercial do

Stocks, end of period, total t • doElectric power utilities doIndustrial, total do

Oven-coke plants doExports doProducer Price Index 1982=100 ..

COKEProduction:

Beehive and oven (byproduct) thous. sh. tons ..Petroleum coke § do

Stocks, end of period:Oven-coke plants, total do....

At furnace plants doAt merchant plants do

Petroleum coke tt doExports do

PETROLEUM AND PRODUCTSCrude petroleum:

Producer Price Index 1982—100Gross input to crude oil distillation

units ft mil bblRefinery operating ratio tt % of capacity

All oils, supply, demand, and stocks: ttNew supply, total Q mil bbl

Production:Crude petroleum doNatural gas plant liquids do....

Imports:Crude and unfinished oils do....Refined products do....

Change in stocks, all oils . doProduct demand, total do....

Exports:Crude petroleum doRefined products do....

4,292146099.7

886 023801 780684 227111 120359736433

168 072154*707133652985

84017100.8

25,54036903

2,0661778'288

12061063

469

4 681 483

60261

3 1683587.1

1,642.7628.0737

6,227.9

562229.3

4,1771 181100.1

912 674834 337716 922111 696369205719

178 485163 857146283879

7764597.1

28,03737380

1,064846218

1 350650

555

4746 1' 83

60896

30474605.6

1,837,3599.4149

6,360.8

550223.0

359154

99.4

76555720216340083832809

238168 895156 2631263337287174

96.5

7,0733 121

15461 252

2941 307

50

564

399285

5003

248448.8

157.945.162

525.0

3516.6

426121

99.8

69207802527063292053263

416156 068143 1151295435976489

96.0

3 190

1 27998

598

422087

541 9

255851.0

173.961.3105

551.5

4616.4

441144

100.0

80087797226998093493246

393152 297139 023132733465761496.1

3 138

1 22332

61 1

419387

536 1

254 550.6

182.348.7335

527.2

4416.1

441191

100.1

81 8546876859 18790593 190

522

158 487144 89313 59433346474

95.7

7,4383047

14361 177

2591 128

35

578

399886

5108

246249.4

162.952.4137

523.9

3 520.3

371180

100.3

853356708957 05194923295

546167 81115387213*9383*5156448

96.0

3060

1 00929

569

399883

5302

259351.9

172.246.943

545.2

2617.4

331165

101.0

78677664215590199433323

577175 594161 31114 28336977 037

96.3

3 158

1 07238

566

392 282

5153

251 951.4

160.651.3250

512.3

4917.1

31021

101.1

7927574 18762466109833449

739178 485163 85714 62838798009

95.9

7,5893384

1064846218

1 350110

54 1

414984

521 8

257852.2

156.255.527 5

573.5

6825.9

r21542

1 101.9

r74 63478 41367 70299903216

721169 495155 61313 88238754390'95.6

3464

1 46358

;50 1

408383

5199

255650.5

156.057.9102

561.5

6621.0

r26827

101.9

r77 30171 52961 16297933059

573165548152 40613 1423 8724 451

96.2

3 164

1 43792

497

374381

4933

242947.6

146.156.7222

535.0

4320.8

'27943

101.9

r84 0906899458518100803336

396166 825154 428123973 8687099r95.8

7,3473414

902714188

1 44130

r47 2

410584

5198

258852.6

158.849.6166

569.4

6719.2

33358

100.1

76376

53928

158 342

8,88595.2

3159

149024

490

399984

5095

248050.0

167.444.0193

513.5

3516.8

37254

100.2

74030

56256

159 114

7,81695.4

3357

1497239

51 5

422586

530 0

254352.0

177.246.5338

524.9

4420.9

35552

100.1

77510

7,99895.1

76

507

309

100.3

71863

95.2

460

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 118: SCB_081988

S-28 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and „ ,.methodological notes are as shown in umw

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

PETROLEUM, COAL, AND PRODUCTS—Continued

PETROLEUM AND PRODUCTS t-ContinuedAll oils, supply, demand, and stocks — Continued

Domestic product demand total # mil bbl

Kerosene . . doDistillate fuel oil doResidual fuel oil doJet fuel doLubricants doAsphalt do

Stocks end of period total do• Q? .petroleum.. ao ....

Unfinished oils, natural gaso-

Refined products doRefined petroleum products:

Gasoline (incl. aviation):Production doStocks end of period doPrices, regular grade (excl. aviation):

Producer Price Index 1982=100..Retail, U.S. city average (BLS):

Leaded $ per galUnleaded . do

Aviation gasoline:

Stocks end of period doKerosene:

Production do

Producer Price Index (lightdistillate) 1982= 100 ..

Distillate fuel oil:Production mil bbl

Stocks end of Deriod doProducer Price Index (middle

distillate) 1982-100 ..Residual fuel oil:

Production mil bblImports doStocks end of period doProducer Price Index 1982—100

Jet fuel:Production mil bblStocks end of period do

Lubricants:Production doStocks end of period do

Asphalt:

Stocks end of period doLiquefied petroleum gases:

At gas processing plants(LPG) do

At refineries (L R G ) doStocks (at plants and refineries) do ...

5 94242 579 i

3591 0637

5177477 2519

1636552 1

1 59258428511 6

14046094

247631964

54.4

.857

.927

11 722

32684

53.6

10212903

1551

49.4

324 3244247 444 5

472 0497

582142

1497177

6185

4662152 3102.7

608272639 1

3451 0864

461 55055587

1703588 3

1 607 58896540 6

13835795

25062191 1

59.5

.897

.948

9 123

28784

54.1

9966932

1345

55.5

323 2206 1

47 4531

490 1499

609133

1584188

6382

4745163 797.1

504 9227 1

1883736240855

201420

1 5480'354*8527*2

14945438

21371945

61.4

.906

.958

1 020

126 1

53.2

80780

1044

55.1

25 914441 4551

37 6459

53117

17 1227

520

38 113 899.4

530 52359

1684 141 543151

23247 6

1 55858538530 0

14695578

219.21908

63.1

.921

.971

920

1765

55.3

83711 8

114 6

56.3

27 9223447582

41 8467

53117

198209

547

39415 3

103.9

50672284

2079236543947

22042 5

1 59208644532 0

15105765

215.9190.0

65.5

.946

.995

920

207 1

57.9

83969

1247

59.4

27 3159457610

43 4477

5211 9

192197

53 2

39214 0

111.9

500 12169

2285 138940847

21248 6

1 6057871 1533 9

15045843

208.61934

61.9

.940

.990

1 022

2780

58.1

82.466

1268

56.8

27 i158444547

41 8502

5 1122

182183

52 1

38413 7

114.3

5252227 2

3.997733 145547

17.653 0

1 610089155357

14965688

207.5184.1

61.1

.931

.976

822

3.787

60.0

86.273

121 0

59.3

27 5128456518

436498

54126

163180

538

40 113 7

112.5

4903215 1

3.38803614083.9

12.652 1

1 634990225385

14745854

207.7190.2

61.9

.928

.976

522

3.593

60.8

91.156

1280

61.2

27 8170500528

41 6510

5 2136

106169

529

39813 1

108.6

54082253

4.710294454535.07.1

58 51 607 5

88965406

13835795

218.1191.1

57.5

.912

.961

723

3.384

58.3

100.511 7

1345

58.1

310202474495

44 g499

48133

85188

543

40913497.1

5340207 8

5.510904894754.23.8

64 115973

88825427

14275663

209.1202.3

2 53.7

.881

.933

g23

3.272

2 55.2

11012722 54.8

31 3228466

2 45.4

43946.3

52141

72227

534

39414080.7

509 92038

4.1101.8

46.443.75.05.4

57 515751

8920544 1

143.7539.4

195.8204.4

53.9

.859

.913

521

3.469

55.1

77.896

109.6

51.5

28923.045.543.5

40 143.6

51139

7 9257

510

37513470.2

54342260

3.1109.944.443.35.58.6

5301 558.5

898.65449

147.8512.1

208.2195.9

53.9

.850

.904

720

2.164

r53.7

84.375

89.3

49.7

29318.944.1

T41.9

45046.7

5813.9

106286

559

40.914968.8

49322222

2.186.138.241.64.5

10.7402

1,577.8904.4547 3

148.7524.8

207.9191.5

58.2

.883

.930

72.0

1.560

52.7

86.163

94.3

53.3

28 513.943.240.5

38746.0

5.314.1

118306

539

39.214679.7

499.6226.4

1.985.529.342.25.5

17.0419

1,611.6905.75479

158.6547.4

213.2190.4

60.9

.911

.955

92.0

1.55.6

54.2

90.97.1

104.5

54.3

26813.145.742.6

39946.8

5.613.8

15.330.1

56.1

40.915290.0

60.7

.910

.955

53.0

50.6

43.7

63.2

.923

.967

51.1

46.9

39.2

PULP, PAPER, AND PAPER PRODUCTS

PULPWOODReceipts thous cords (128 cu ft )Consumption do

WASTE PAPERConsumption thous sh tons

WOODPULPProduction:

Total thous sh tons

Paoer trades chemical DU!D d°Groundwood and thermo-

Semi-chemical doInventories, end of period:

At pulp mills:Own use woodpulp doMarket pulp do

Market pulp at paper and boardmills do

Dissol'vine and snecial aloha doAll other do.

Imports all grades total doDissolving and special alpha doAll other do....

1 90 943/91 434

4794

1 17 285r838

TI 57 0051 258

46 081r54764 191

174r284r496

1 4 308711

1 3,599'4340

'l48'4.193

1 94 3121 93 946

5 096

i is 296920

n 59 5521 312

r48 293r57024246

170224

529'5047

6911 4,520'4974

' 96' 4.899

774377234 651

1 474773

4971113

4 035

468355

177276

593455

1454390

10379

82648 1954 782

1 508797

5 111123

4 141

484364

173281

60846365

398401

2399

7 64377294703

1 598745

5083102

4 162

487333

177340

53939062

38014

366

80617 8565 044

1 544810

4 925112

3947

506359

167273

56144265

37754613

533

84367 9845301

1 619838

506688

4 110

501367

161267

53133353

28038611

375

7 2277 4015211

1 553817

4812137

3851

472352

162290

49936561

304411

3408

80038 1625096

1489887

5 160109

4227

484339

170224

52952372

450415

2412

7 73782234629

1 555847

527698

4285

517376

162292

50839167

324390

10380

79247,7434777

1,529r871

r4917116

3981r471350

165265

50344441

403429

14415

83458,2494942

1,660r926

r5222109

4259r495360

169237

53249179

569432

14446

7,9118,1374642

1,541r937

r5,004105

r4037r509354

169256

53245381

372428

12415

7,6117,6504,420

1,611897

4,99199

4,011

507373

159243

51343361

372415

7408

497101396415

13402

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 119: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-29Unless otherwise stated in footnotes

below, data through 1986 and n itemethodological notes are as shown in unusBUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

PULP, PAPER, AND PAPER PRODUCTS—Continued

PAPER AND PAPER PRODUCTSPaper and board:

Production (API):Total thous. sh. tons-

Paper doPaperboard do....

Producer Price Indexes:Paperboard 1982-100 .Building paper and board do....

Selected types of paper (API):Groundwood paper, uncoated:

Orders unfilled end of period doShipments . . do

Coated paper:Orders, new do ..

Shipments do. ..Uncoated free sheet papers:

Orders new . doShipments do

Unbleached kraft packaging and industrialconverting papers:

Tissue paper production doNewsprint:

Canada:

Shipments from mills do

United States:Production do ....Shipments from mills do....

Estimated consumption, allusers Q do

Publishers' stocks, end of period #

Imports thous. sh. tons-Producer Price Index,

standard newsprint 1982—100Paper products:

Shipping containers, corrugated and solidfiber shipments mil. sq. ft. surf, area..

'70,8893551035,379

106.6108.8

1 1 553124

1 1,540

'6,334469

6,263

1 10 485' 10 681

'3303'5095

92899302

5,1075,115

49

11937

8498,589

1033

283,921

'74,4293699037,439

1181111.2

'1 542181

' 1,485

'7,099734

6,860

'11 189'11228

'3 075'5301

9 6739761

193

5,3005,310

36

12322

9008,975

1123

297,430

6,14030483,092

115.9110.2

126124120

651604569

923933

247439

806857273

444451

40

996

885776

1087

'25,490

6,2383,0813,157

116.1111.1

134137132

623647584

945945

244434

791779286

45545243

967

931741

1127

25,341

6,4633,1633,300

119.8112.2

136148127

632678597

996968

249457

826785326

45244946

1041

905708

116.3

24,977

6,2543,1253,129

121.3113.2

130153126

570666591

946949

258447

797852271

44845143

1050

929

780

1169

25,925

6,3903,2113,177

122.1113.8

121150124

610729603

1,029988

259

455

827811286

461456

48

1 129

897746

1169

27,647

6,1353,0663,069

122.5113.4

113153112

563693587

919927

243442

812801298

437439

46

1 134

866777

117:1

23,281

6,3473,1633,184

123.1113.7

130181111

611734588

978982

261449

783892193

453461

36

1050

900710

117.0

23,141

6,4663,2163,251

2 126.62 113.7

132187128

627693638

944963

262446

822716295

45243751

958

905727

2 127.1

24,782

6,2153,1193,097

127.1114.0

137197129

583692593

917943

255437

815782328

43443551

964

931697

127.9

24,679

6,7243,3823,342

130.5113.1

131196139

646r704653

1,0321,039

262474

874881321

46345855

1,059

962811

127.9

27,222

r6,311'3,1953,116

132.6113.3

125194127

634'723609

991967

255444

826789359

451446

60

1,023

972725

127.2

26,053

'6,441'3,176'3,264

133.1113.4

156'209135

'622'724600

923939

'236

463

860856363

46646363

1,063

'952

766

127.5

24,986

6,2463,0963,150

134.0114.2

128221123

598733599

909917

241450

799851311

44544959

999

971715

127.5

25,830

134.3113.9

127.4

RUBBER AND RUBBER PRODUCTS

RUBBERNatural rubber:

Stocks, end of period doImports, incl. latex and guayule

U S. Import Price Index t 1985—100Synthetic rubber:

Production thous metric tonsConsumption doStocks, end of period doExports (Bu. of Census) thous. Ig. tons .

TIRES AND TUBESPneumatic casings:

Production . . . thousShipments total do

Original equipment do

Exports doStocks end of period doExports (Bu of Census) do

Inner tubes:Exports (Bu. of Census) do....

743 563851

752 99

101 9

2 012 771 895 23

2356133885

' 190 289

243 24461 251

176 6595334

342865202

809

'775 387246

745 67

1157

'2 184 12'2 017 31

'229 72

42264

1 202 978

255 22060758

186 4068056

34338

9 580

1,518

56 307900

58 01

1098

17497157 79

241 79

3634

16548238295 145

17 984701

37872844

149

67 358247

63 22

186 19161 88

251 86

3356

15796208113 605

16 531676

37344

745

109

61 417701

46 83

164 15163 56

240 55

3275

16723206564316

15 682657

37501793

102

61 857056

58 47

119 1

17604'172 21

'222803823

17 204

23 2184969

17 517731

362341 155

141

57 396585

56 76

191 0018508213603293

18956249265778

18*367781

34 539

849

76

60636547

6285

18294167 56213 82

3694

1645521 2984966

15 584748

33702

1 277

96

69 387246

77 g7

1306

194 82'174 09

'2297236.53

16428203264 177

15 341809

34338

1259

114

79077487

81 89

18695158522378439.07

1734518 7954713

13 0611 021

370471328

95

65 167532

6849

179131668223511

36.76

18027194725065

13 2431 163

39904

1410

138

88 1070.69

8565132.4

20120186 80

'229.6441.11

19,305228085 752

15 7471,309

407371,477

165

586874.64

67 51

19372163 05

'237.5041.02

17,64221 2005606

145011093

41 1491,598

141

657372.94

66 18

205.40172.08246.1839.79

17,40322 5396010

15559970

401591,380

161

6383175.8

40.47

1,157

113

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 120: SCB_081988

S-30 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and ITni,methodological notes are as shown in

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENT

Shipments, finished cement thous bbl

CLAY CONSTRUCTION PRODUCTS

Shipments:Brick, unglazed (common and face)

mil. standard brick ..

Structural tile, except facing thous. sh. tons..Sewer pipe and fittings vitrified doFloor and wall tile and accessories, glazed

and unglazed .. mi sq ft

Producer Price Index, brick and structuralclay tile 12/84-100

GLASS AND GLASS PRODUCTS

Flat glass, mfrs.' shipments thous. $..

Glass containers:Production "j" thous gross

Shipments, total "I" do....Narrow-neck containers:

Foodt do....Beverage doBeer doLiquor and wine t do

Wide-mouth containers:Food and dairy products do....

Narrow-neck and wide-mouth containers:Medicinal and toilet do....Chemical, household, and in-

dustrial do..

Stocks, end of period t do....

GYPSUM AND PRODUCTS

Production:Crude gypsum (exc. byproduct) thous. sh. tons..Calcined. . do

Imports, crude gypsum do

Sales of gypsum products:Uncalcined do

Calcined:Industrial plasters . doBuilding plasters, total

(incl. Keene's cement) do....

Board products total mil sq ftLath do

Veneer base .. doGypsum sheathing ... . . do

Regular gypsum board do....Type X gypsum board do

Predecorated wallboard do5/ie mobile home board do....Water/ moisture resistant board do ....

'470,500

7,401.9

108.4323.6

505.0

105.2

1,259,746

289,253

283,057

25,26659,88586,92227,856

62,795

18,843

1,490

39,912

rl 15,403rl 17,061

9,559

n 5,331

"476

"278

"20,21624

"454"338

"13,817"4,358

"132"571"522

1 480,410

7,313.22 96.1324.6

462.0

108.2

1,457,587

285,030

281,636

27,25262,43485,35728,382

62,673

14,167

1,371

41,926

" 15,612" 17,592

9,717

"6,324

"496

"280

"20,50723

"479"313

"13,920"4,489

"128"598"557

47,835

700.1

16.931.4

39.4

108.7

354,994

25,870

26,710

2,7356,4717,7403,243

5,399

1,038

84

41,925

1,4221,284

884

567

40

23

1,7052

4227

1,031475

106652

49,282

721.0

16.531.6

36.5

108.6

25,351

25,957

2,6075,9508,1612,565

5,368

1,220

86

41,019

1,3131,486

810

264

12

23

1,7842

4525

1,084492

107254

45,638

669.3

15.931.8

38.6

108.6

25,570

24,261

2,4095,9627,0032,196

5,507

1,060

124

42,499

1,3161,427

821

309

11

23

1,7752

4326

1,086482

107353

47,638

692.0

15.932.5

39.3

108.6

392,126

22,590

23,378

2,4945,2036,6942,056

5,891

949

91

41,343

1,1611,396

879

317

10

22

1,7752

4325

1,090480

107452

50,011

704.4

(2)36.4

40.1

108.6

25,269

23,446

1,9814,8967,5132,280

5,599

1,098

79

42,881

1,4321,566

952

311

14

23

1,9162

4628

1,171519

108158

38,298

557.4

(2)22.7

37.7

108.7

20,023

19,047

1,5794,0856,1171,787

4,460

916

103

43,836

1,4421,441

817

654

10

25

1,6752

4127

1,021451

96262

30,840

497.3

(2)18.5

39.6

108.7

378,798

18,693

20,271

1,6904,1836,5172,115

4,766

897

103

41,926

1,2181,274

635

591

9

19

1,5011

3622

914425

104251

20,979

398.8

4.718.1

35.9

109.9

21,588

21,875

1,8373,8857,9282,153

5,198

788

86

40,948

1,0311,255

837

342

10

18

1,4682

3619

884420

94948

26,293

486.7

4.721.1

38.4

110.5

22,497

20,864

1,8154,2606,6452,068

5,256

737

83

42,680

1,0751,361

801

306

20

21

1,5952

3619

975451

95152

36,404

709.7

4.731.4

44.7

110.4

353,737

24,506

22,522

2,2115,1786,0322,423

5,508

1,050

120

44,569

1,2971,402

512

378

11

23

1,8962

4427

1,154528

107259

39,926

685.4

4.724.7

40.7

110.4

24,950

24,327

2,4455,7537,5032,523

5,225

787

91

44,953

1,2721,524

986

359

13

21

1,6871

4124

1,003473

98055

45,356

r716.8

5.1'27.5

41.3

111.1

25,027

24,834

2,5325,6178,1422,518

5,091

879

55

44,970

1,2311,327

415

11

20

1,6672

4025

998462

97753

50,117

776.0

5.334.8

44.3

111.2

24,789

25,764

2,3676,3427,5462,718

5,874

850

67

43,908

111.2

TEXTILE PRODUCTS

FABRIC

Woven fabric, finishing plants:Production (finished fabric) mil. linear yd.

Cotton.. doManmade fiber and silk fabrics do....

Inventories held at end of period doCotton do ...Manmade fiber and silk fabrics do....

Backlog of finishing orders doCotton do ....Manmade fiber and silk fabrics .. do

COTTON AND MANUFACTURES

Cotton (excluding linters):Production:

Ginnings 0 thous running balesCrop estimate thous net weight bales §

Consumption thous running balesStocks in the United States, total, end of

period # thous. running bales..Domestic cotton, total do....

On farms and in transit doPublic storage and compresses doConsuming establishments do

679625224,271

504211293

94389731

6566

1341613,4162540

10252624

1435914724

7 446

13,72213,7222525

10 555642

3 708

65776,5771 0974807

673

112907

540

4,7874,787

3003809

678

42912846

606

1626316,263123763*239

'648

3 19713336

J753

16,24216,242107994864'579

7 53413336

621

15,58115,5817 6527 398

531

11 08213 936

606

14823148234 8259 456

542

1327814 281

3610

13722137222525

10*555642

568

12394123941 470

10 197727

590

11,24511,2451 3129 151

782

3738

9,7119,711

9537972

786

556

8,6078,607

7917028

788

551

7,7077,707

9685987

752

r662

6,5676,567

7615073

733

13614,934

423

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 121: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-31Unless otherwise stated in footnotes

below, data through 1986 and IT .,methodological notes are as shown in Lnits

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

TEXTILE PRODUCTS-Continued

COTTON AND MANUFACTURES-Cont.Cotton (excluding linters)— Continued

Imports , thous. net-weight bales § .Price(farm), American upland 0 cents per Ib ..Price, Strict Low Middling, Grade 41, staple 34

(IVie"), average 10 markets cents per Ib..Spindle activity (cotton system spindles):

Active spindles, last workingday, total milConsuming 100 percent cotton do....

Spindle hours operated, allfibers, total bil

Average per working day doConsuming 100 percent cotton do ....

Cotton cloth:Cotton broadwoven goods over 12" in width:

Production (qtrly ) mil sq ydOrders, unfilled, end of period, compared

with average weekly productionno. weeks' prod ..

Inventories, end of period, compared withavg. weekly production no weeks' prod

Ratio of stocks to unfilled orders (at cottonmills), end of period

Exports, raw cotton equivalentthous net-weight bales §

Imports, raw cotton equivalent doProducer Price Index, gray cotton

broadwovens 1982—100

MANMADE FIBERS AND MANUFACTURESFiber production, qtrly:

Acetate filament yarn mil IbRayon staple, including tow doNoncellulosic, except textile glass:

Yarn and monofilaments doStaple incl tow do

Textile glass fiber doFiber stocks, producers', end of period:

Acetate filament yarn mil IbRayon staple, including tow doNoncellulosic fiber, except textile glass:

Yarn and monofilaments doStaple, incl tow do

Textile glass fiber doManmade fiber and silk broadwoven fabrics:

Production (qtrly.), total mil. sq yd ..Filament yarn (100%) fabrics do

Chiefly rayon and /or acetatefabrics do

Chiefly nylon fabrics doSpun yarn (100%) fabrics ... . do

Rayon and/or acetate fab-rics, blends do....

Polyester blends with cotton doAcetate filament and spun

yarn fabrics doProducer Price Index, gray synthetic

broadwovens 1982=100 ..Manmade fiber textile trade:

Exports, manmade fiber equivalent mil IbsYarn tops thread cloth do

Cloth woven doManufactured prods., apparel,

furnishings do

Yarn tops thread cloth doCloth, woven do

Manufactured products, apparel,furnishings do

Apparel total doKnit apparel . . do

WOOL AND MANUFACTURESWool consumption, mill (clean basis):

Apparel class mil IbCarpet class do

Wool imports, clean yield doDuty-free do

Wool prices, raw, shorn, clean basis, deliveredto U.S. mills:

Domestic— Graded territory, 64's, staple 2%"and up ... dollars per Ib

Australian, 64's Type 62, duty-paid . . doWool broadwoven goods, exc. felts:

Production (qtrly ) mil sq yd

FLOOR COVERINGSCarpet, rugs, carpeting (woven, tufted, other),

APPARELWomen's, misses', juniors' apparel cuttings: t

Coats thous unitsDresses do

Skirts doSlacks, jeans, dungarees, and

Blouses thous dozen

56667

551.53 60.0

11 84.6

815309

29.2

243^4

293613222

101 1

21484037

383673991 8

148224

30663264

101.9

5193122877134 58

290531 702 95

306 15207 18

1 396 81'929 36431 18

126810097 0309

1 91236

134 1

1 2542

8959131 924

89769

21971629 575

5 6832

3 64.63 53.2

11 64.6

829319

32.3

4772

260016172

1052

191 14138

4009743062

142207

2984319 6

105.6

591 872603115265

331 561 805 44

2800018252

1 525 441 033 22

48536

129713 1

105 131 1

265324

1689

1 303 8

23982174 982

7 458111 162

294 79130595

422(i)66.2

70.4

11 74.6

478310<3.0

120

2211404

1033

4671005

1,01471 1086

140251

29033332

105.3

522323 451473

28781783327 101681

151 23104 585396

4 12 74 9893 1

270335

459

341 9

6638474231 619

25,397

800889864

400

68.3

73.1

11 74.6

58.2922.3

1901433

106.0

106.4

426117 22931

25401907226951754

16377116646210

9.0128637

2703.32

395

63.7

75.9

1184.7

6.4.3222.6

2301404

103.9

106.9

482521 0113 52

27 241740725241748

14884103885451

941 48432

3003.73

295

64.9

71.4

11 84.8

479.318<3.3

1 199

1991301

107.1

4521036

1,014 21 0586

129182

279 13298

107.9

523723 6013 79

2877145 5720321226

1252585 414589

411741 26728

295341

360

3356

623240,0961 445

28,822

784959,614

346

64.4

64.3

11 84.7

6.7.3352.7

2061466

109.5

108.6

51 2422 6012 80

2864147 6023081448

124 5382 654060

1091 47 020

300348

580

65.0

64.7

1164.6

663282.6

2051438

110.6

109.0

526622 6213 36

3004114 0020 161331

938459 532470

961 18227

300347

6811

64.2

62.3

1164.6

<68.272<2.6

1 195

1991353

111.5

5301084

1,023.21 0695

142207

2984319 6

109.2

51 0923 221327

27 88120 6621 211462

994564 242302

<112* \901 7

3003.56

409

r3155

4380351261 881

26,722

651089616

6260)60.6

59.7

1164.6

6.2.3082.3

21 1987

5 112.7

5 110.0

634226561254

3686141 9822221463

1197682402854

1011 3

12027

3153.91

698(i)56.8

57.8

1154.6

6.4.3192.5

2341026

114.3

111.1

723031 161281

41 1413501188612.49

116 1576042686

1011 4

1271 9

3.974.68

735

57.7

59.6

1174.7

48.0.321<3.1

2961076

114.5

4911066

1,015.51 0666

132203

29943057

111.6

886837 is1656

5151125 4821 2314.93

10425646023.63

4 13.54188.82 1

4.354.96

3105

541

59.4

60.1

1174.7

6.7.3342.5

254986

115.8

111.9

818333 541497

482812322221115.87

101.11633425.71

10.1139.11 7

4.535.64

488

58.9

61.6

11.74.6

r6.5r.324

2.4

234904

116.0

112.3

83.5031551348

51.9414877234016.54

125.36832438.50

9.61.38.619

4.635.64

523

'61.2

62.9

11.74.6

7.9.3162.9

115.9

113.0

12.91.2

4.605.13

"60.7

57.4

4.6

1.9

115.8

113.4

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 122: SCB_081988

S-32 SURVEY OF CURRENT BUSINESS August 1988Unless otherwise stated in footnotes

below, data through 1986 and f T .,methodological notes are as shown in LJmts

BUSINESS STATISTICS: 1986

Annual

1986 1987

1987

June July Aug. Sept. Oct. Nov. Dec.

1988

Jan. Feb. Mar. Apr. May June July

TEXTILE PRODUCTS—Continued

APPAREL— Continued

Men's apparel cuttings: $$Suits thous unitsCoats (separate), dress and sport doTrousers, slacks, jeans, pants, etc . doShirts, dress and sport thous. doz

Hosiery, shipments thous. doz. pairs..

10 55219794

293 42348028

313,244

12 16718 236

7 480 35086649

308,982

28744 154

120 9672386124,363 27,509 24,060

29254 578

125 82321 14025,018 28,333 26,545

29673955

109 5681968922,875 24,013 25,729 26,184 24,718 24,886 27,084

TRANSPORTATION EQUIPMENT

AEROSPACE VEHICLES

Orders, new (net), qtrly, total mil. $..U.S. Government do

Prime contract doSales (net), receipts, or billings, quarterly,

total..... do.U.S. Government do..

Backlog of orders, end of period # do....U.S. Government do.

Aircraft (complete) and parts do....Engines (aircraft) and parts do.Missiles, space vehicle systems, engines,

propulsion units, and parts mil. $..Other related operations (conversions, modi-

fications), products, services mil. $..

Aircraft (complete):Shipments doExports, commercial do ....

MOTOR VEHICLES (NEW)

Passenger cars:Factory sales (from U.S. plants):

Total .. . thous

Retail sales, total, not seas, adj do....Domestics § doImports § do

Total seas adj at annual rate milDomestics § doImports § do

Retail inventories, domestics, end of period: §Not seasonally adjusted thous..Seasonally adjusted do

Inventory-retail sales ratio, domestics § .

Exports (BuCensus), total do....To Canada do

Imports (ITC) complete units doFrom Canada, total do

Registrations 6, total new vehicles do....Imports, including domestically

sponsored .. .. do

Trucks and buses:Factory sales (from U.S. plants):

Total doDomestic do

Retail sales, domestics:Total, not seasonally adjusted do....

0-10,000 Ibs. GVW do10,001 Ibs. GVW and over do .

Total, seasonally adjusted do....0-10,000 Ibs. GVW do....10,001 Ibs GVW and over .... do

Retail inventories, domestics, end of period: tNot seasonally adjusted thousSeasonally adjusted. . . . . . do

Exports (BuCensus) do ....Imports (BuCensus), including separate

chassis and bodies do....

Registrations <>, new vehicles, excluding busesnot produced on truck chassis thous

Truck trailers and chassis, complete (excludesdetachables), shipments number ..

Van type doTrailer bodies (detachable), sold

separately . . . . . . . doTrailer chassis (detachable), sold

separately do

RAILROAD EQUIPMENT

Freight cars (new), for domestic use; allrailroads and private car lines (excludesrebuilt cars and cars for export):

Shipments numberEquipment manufacturers do...

New orders do ...Equipment manufacturers do ..

Unfilled orders end of period doEquipment manufacturers do

Freight cars (revenue), class I railroads(AAR): $Number owned end of period thousCapacity (carrying), total, end of month

mil. tons.Average per car tons

3 110,8363 68 001

3 106,686

3 105,5773 65,326

3 148,2123 95,0093 62,0323 14,359

3 24,320

3 17,422

12,518.07,207

7,5166,869

11,4508,2153,235

1,4991,515

2.2

669.46639.674,691.31,162.2

11,140

3,444

3,3933,130

' 3,947.23,671.3; 275.8

815.7854.5

209.06

1,572.35

4,801

167,312120,647

417

15,360

11,50811,50812,42612,4262,6772,677

799

67.2084.14

3 119,0983 64 892

3 115,298

3 109,0533 67 ,680

3 157,2503 91,4363 64,4943 15,521

3 30,259

3 16,527

12,295.07,380

5 7,0855 6,487

10,2787,0813,197

1,6801,702

2.9

627.65561.88

4,589.0926.9

10,122

3,625

63,8216 3,509

4,088.43,786.1

302.3

967.91,015.4229.27

1,378.19

4,939

180,142135,380

438

23,014

'13,236'13,2361 17,3681 17,368

6,7366,736

749

63.6385.01

1,041.2346

665595

943657286

10.47.23.2

1,9001,838

3.1

77.1472.45435.2

89.0

963

334

334304

402.3375.7

26.6

357.1332.7

24.4

975.9942.423.96

123.32

485

16,26611,841

37

1,637

3,1983,1984,7804,7805,4325,432

771

65.1984.57

1,143.1937

373349

913611302

10.77.43.3

1,6571,686

2.7

25.3120.14393.151.8

899

340

261243

367.8341.5

26.3

352.2327.7

24.5

883.7963.614.68

114.70

455

14,36910,460

41

3,521

764

64.7284.68

685.1390

377355

968654314

12.08.33.7

1,4381,563

2.2

31.5829.11342.7

34.8

903

339

305287

349.8324.5

25.3

406.9380.5

26.4

874.4926.112.95

91.66

424

15,48311,642

48

2,175

763

64.6584.73

1,081.5730

582529

90561329211.78.23.6

1,3961,487

2.2

49.2247.20297.8

57.4

955

363

325299

328.7302.7

26.0

338.7313.5

25.3

898.4945.121.20

93.15

459

16,39412,281

54

2,323

3,8483,8483,9513,9515,5355,535

759

64.3384.80

878.9335

670610

8025242789.25.93.3

1,5591,655

3.4

51.1444.07423.681.5

819

318

364333

331.4305.4

26.1

344.7319.9

24.8

967.3987.419.19

94.25

403

16,37912,157

42

1,794

755

64.0284.83

885.2781

583533

7374862519.66.43.2

1,6921,745

3.3

69.7058.71427.8103.1

718

286

303276

323.9299.9

24.0

346.3317.6

28.7

990.4991.824.14

112.94

367

13,89410,467

20

1 481

748

63.4984.89

1,767.7903

500458

84355129310.87.43.4

1,6801,702

2.8

48.5541.72437.5

92.7

840

318

294268

350.4323.0

27.3

342.6316.8

25.8

967.91,015.4

21.16

105.54

417

14,23310,579

19

1,805

3,5523,5525,0775,0776,7366,736

749

63.6385.01

737.4504

r472r435

76553123410.77.53.1

1,6771,626

2.6

43.8033.94379.891.0

774

285

317295

306.6284.3

22.34 362.64 336.3

4 26.3

1,024.01,007.0

18.65

96.25

384

12,6618,946

37

1,711

744

63.3785.13

1,235.3744

r563r504

88864923811.17.93.2

1,6081,518

2.3

68.1460.17369.2107.3

810

281

344318

374.8348.1

26.7

384.6353.8

30.9

8 1,034.88 986.322.57

94.04

379

14,60110,791

39

2,497

742

63.5285.58

1,447.51,056

'665'592

1,006734272

10.67.53.1

1,5721,485

2.4

83.7170.40355.2114.0

919

306

402364

439.7407.4

32.3

374.5344.6

29.9

1,022.7972.128.01

120.94

443

16,11111,325

76

2,356

4,4574,4577,2447,209

12,72712,692

743

63.3885.29

1,363.11,003

'613''552

90165225010.57.23.3

1,5711,503

2.5

68.7857.38394.7117.8

852

284

340311

382.4350.232.1

377.2348.2

29.0

1,020.4968.423.32

109.40

432

13,7799,553

114

2,785

740

63.2185.39

1,573.11,063

'690'626

974702272

10.47.33.0

1,595rl,563

2.6

74.9164.12378.9114.9

874

290

366333

426.0395.8

30.2

386.4357.0

29.4

992.9943.824.18

90.81

432

'14,619'10,226

'462

2,163

"»'

738

63.1085.48

1,360.2956

726670

1,010722287

911.097.893.1

1,663"1,590

92.4

67.3352.51

121.3

981

333

372343

426.9395.831.1

365.3337.5

27.8

987.6953.422.14

102.25

487

15,01810,850

619

2,554

4,5984,5989,1319,131

17,25517,225

735

62.8785.55

(2)

'863605

'258'10.7

7.8'3.0

1,4061,475

2.3

(2)

385.5356.529.1

396.5367.9

28.6

851.6928.9

See footnotes at end of tables.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 123: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-33

FOOTNOTES FOR PAGES S-l THROUGH S-32

General Notes for all Pages:r Revised,p Preliminary,e Estimated,c Corrected.

Address requests for data to:Statistical Series BranchCurrent Business Analysis DivisionBureau of Economic AnalysisU.S. Department of CommerceWashington, D.C. 20230

Page S-lt Revised series. See Tables 2.6 - 2.9 in the July 1988 SURVEY for revised estimates

for 1985-87.$ Includes inventory valuation and capital consumption adjustments.§ Monthly estimates equal the centered three-month average of personal saving as a

percentage of the centered three-month moving average of disposable personal income.O See note "O" for p. S-2.

Page S-21. Based on data not seasonally adjusted.O Effective Oct. 1987 SURVEY, the industrial production index has been revised back

to Jan. 1985. These revisions are available upon request.# Includes data not shown separately,t See note "t" for p. S-8.$ See note "$" for p. S-8.

Page S-3# Includes data for items not shown separately.t See note "t" for p. S-8.t See note "$" for p. S-8.

Page S-41. Based on data not seasonally adjusted.# Includes data for items not shown separately.t Includes textile mill products, leather and products, paper and allied products, and

printing and publishing industries; unfilled orders for other nondurable goods industriesare zero.

O For these industries (food and kindred products, tobacco, apparel and other textileproducts, petroleum and coal, chemicals and allied products, and rubber and plastics products)sales are considered equal to new orders.

Page S-5@ Compiled by Dun & Bradstreet, Inc.# Includes data for items not shown separately.§ Ratio of prices received to prices paid (parity index).$ See note "t" for p. S-4.t Effective with the Feb. 1988 SURVEY, data (back to 1984, for some commodities) have

been revised. Effective with July 1988 SURVEY, data (back to 1982, for some commodities)have been revised. These revisions are available upon request.

O See note "t" for p. S-6.

Page S-6§ Effective with the release of the January 1988 index, all producer price indexes previously

expressed on a base of 1967=100, or any other base through December 1981, have beenrebased to 1982=100. Only indexes with a base later than December 1981 remain unchanged.Selection of the 1982 period was made to coincide with the reference year of the shipmentweights, which have been taken primarily from the 1982 Census of Manufactures. The lastrebasing of these indexes occurred in February 1971, when the 1967 base was substitutedfor the 1957-59 base. Historical data on the new base are available upon request. For producerprice indexes of individual commodities, see respective commodities in the Industry sectionbeginning p. S-l 9. All indexes subject to revision four months after original publication.

# Includes data for items not shown separately.t Effective with the release of the January 1988 index, all consumer price indexes previously

expressed on a base of 1967=100, or any other base through December 1981, have beenrebased to 1982-84=100. Only indexes with a base later than December 1981 remainunchanged. Selection of the 1982-84 period was made to coincide with the updated expenditureweights, which are based upon data tabulated from the Consumer Expenditure Surveys for1982, 1983, and 1984. The last rebasing of these indexes occurred in February 1971, whenthe 1967 base was substituted for the 1957-59 base. Historical data on the new base areavailable upon request. Beginning with January 1987, data are calculated using 1982-84expenditure patterns and updated population weights. Additional information regardingthese changes is available from the Bureau of Labor Statistics, Washington, DC 20212.

Page S-71. Computed from cumulative valuation total.2. Index as of Aug. 1, 1988: building, 386.5; construction, 422.8.# Includes data for items not shown separately.§ Data for July, Oct., and Dec. 1987, and Mar. 1988 are for five weeks; other months

four weeks.

O Effective Feb. 1988 SURVEY, data for seasonally adjusted housing starts have beenrevised back to 1985. These revisions are available upon request.

t Effective May 1988 SURVEY, data for seasonally adjusted building permits have beenrevised back to Jan. 1986. These revisions are available upon request.

@ Effective July 1988 SURVEY, data have been revised back to Jan. 1985. In additionto the normal revisions to the unadjusted and seasonally adjusted data, the "Improvements"component of private residential buildings has been revised back to 1982 to adjust for achange in estimation of the monthly data. Revised data are available from the ConstructionStatistics Division at the Bureau of the Census, Washington, DC 20233.

$ Effective July 1988 SURVEY, data have been revised back to 1985 and are availableupon request.

Page S-81. Advance estimate.O Home mortgage rates (conventional first mortgages) are under money and interest

rates on p. S-l4.§ Data include guaranteed direct loans sold.# Includes data for items not shown separately.@ Effective Oct. 1987 SURVEY, data are for mortgage loans closed as FSLIC-insured

institutions. Historical data back to 1976 are available upon request.t Effective April 1988 SURVEY, wholesale trade data have been revised back to Jan.

1983. Revised data and a summary of changes appear in the report. Revised Monthly WholesaleTrade Sales and Inventories BW-13-87S, available from the Bureau of the Census, Wash-ington, DC 20233.

$ Effective April 1988 SURVEY, retail trade data have been revised. Estimates of retailsales and inventories have been revised back to January 1983. Some series have been revisedback to 1978. Revised data and a summary of changes appear in the report Revised MonthlyRetail Sales and Inventories BR-13-87S, available from the Bureau of the Census, Wash-ington, DC 20233.

Page S-91. Advance estimate.# Includes data for items not shown separately.O Effective with the January 1988 SURVEY, the seasonally adjusted labor force series

have been revised back to January 1983. The January 1988 issue of Employment and Earn-ings contains the new seasonal adjustment factors, a description of the current methodology, andrevised data for the most recent 13 months or calendar quarters. Revised monthly data forthe entire 1983-87 revision period are in the February 1988 issue of Employment and Earnings.

t The participation rate is the percent of the civilian noninstitutional population in thecivilian labor force. The employment-population ratio is civilian employment as a percentof the civilian noninstitutional population, 16 years and over.

@ Data include resident armed forces.$ See note "$" for p. S-8.

Page S-10O See note "O" for p. S-9.§ Effective June 1988 SURVEY, data have been revised back to April 1986 (not seasonally

adjusted) and January 1983 (seasonally adjusted) to reflect new benchmarks and seasonaladjustment factors. The June 1988 issue of Employment and Earnings will contain a detaileddiscussion of the effects of the revisions.

PageS-11t This series is not seasonally adjusted because the seasonal component is small relative

to the trend-cycle and/or irregular components and consequently cannot be separated withsufficient precision.

O Production and nonsupervisory workers.§ See note"§" for p. S-10.

Page S-121. This series is not seasonally adjusted because the seasonal component is small relative

to the trend-cycle and/or irregular components and consequently cannot be separated withsufficient precision. Use the corresponding unadjusted series.

§ See note "§" for p. S-10.0 Production and nonsupervisory workers.$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by

Consumer Price Index. Effective Feb. 1988 SURVEY, this series has been revised back to1983 to reflect new seasonal factors for the CPI-W. Revised data are available upon request.

§§ Wages as of Aug. 1, 1988: Common, $17.41; Skilled, $22.71.t Excludes farm, household, and Federal workers.$$ See note "$" for p. S-l 1.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 124: SCB_081988

S-34 SURVEY OF CURRENT BUSINESS August 1988

Page S-131. Average for Dec.2. Effective December 31, 1987, eight brokers and dealers in commercial paper were

added to the reporting panel resulting in a series break. End of month figures on the old basisare as follows: All issuers, 352,915; financial companies, 275,907; dealer placed, 103,667;directly placed, 172,240; and nonfinancial companies, 77,008.

t Effective Aug. 1988, SURVEY, free reserves have been restated to correspond with theFederal Reserve's computation, which is as follows: excess reserves, minus borrowings, plusextended credit. Historical data back to 1961 are available upon request.

$ Effective Jan. 1988, series revised due to changes in the panel of reporting banks. Thenew reporting panel of 168 banks accounts for about 52 percent of total assets in U.S. officesof domestically-chartered banks. Back data have been estimated for the years 1984-87.

# Includes data for items not shown separately.# "Transaction balances other than demand deposits" consists of ATS, NOW, super

NOW, and telephone transfer accounts.§ Excludes loans and federal funds transactions with domestic commercial banks and

includes valuation reserves (individual loan items are shown gross; i.e., before deduction ofvaluation reserves).

@ Insured unemployment (all programs) data include claims filed under extended durationprovisions of regular State laws; amounts paid under these programs are excluded fromstate benefits paid data.

@@ Insured unemployment as a percent of average covered employment in a 12-monthperiod.

** Effective Aug. 1987 SURVEY, data are provided by the Farm Credit Corporation ofAmerica on a quarterly basis. Quarterly data are available back to first quarter 1985, withannual data available back to 1961.

Page S-141. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the

months.2. Weighted by number of loans.3. Beginning Feb. 1988, data temporarily suspended by the Farm Credit Administra-

tion, which is revising the information it collects and amending the reports it distributes.§ Effective Mar. 1988 SURVEY, data have been revised to reflect new benchmark and

seasonal adjustments. These revisions are available upon request.t Effective Apr. 1988 SURVEY, the consumer installment credit series have been revised

back to Jan. 1980 to reflect newly available historical information and to incorporate newseasonal factors. These revisions are available upon request.

# Includes data for items not shown separately.O Adjusted to exclude domestic commercial interbank loans and federal funds sold to

domestic commercial banks.$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equiva-

lent.§§ Effective Apr. 1988 SURVEY, a total adjustment of $920 million for fiscal year (FY)

1987 and $1,565 million thru Feb. 1988 has been distributed by month for notes issued bythe Federal Savings and Loan Insurance Corporation (FSLIC) in lieu of cash and not reported asoutlays. The previous adjustment, in the Feb. 1988 SURVEY, has been reversed prior tothese corrections. Effective Sept. 1987 SURVEY, the outlays for the Federal Deposit Insur-ance Corporation (FDIC) have been adjusted by $442 million for 1986 and $158 million for1987 to reflect FDIC debentures issued in lieu of cash and not reported previously as outlays.n Courtesy of Metals Week.@@ Average effective rate@ Revised for periods between October 1986 and February 1987. During this interval,

outstanding gold certificates were inadvertently in excess of the gold stock.

Page S-151. Beginning in the first quarter 1987, the universe of manufacturing corporations was

redefined to exclude corporations with less than $250,000 in assets at the time of sampleselection.

t Effective Feb. 1988 SURVEY, the money stock measures and components have beenrevised and are available from the Banking Section of the Division of Research and Statis-tics at the Federal Reserve Board, Washington, D.C. 20551.

t Composition of the money stock measures is as follows:Ml.—This measure is currency plus demand deposits at commercial banks and interest-earning checkable deposits at all depository institutions—namely NOW accounts, auto-matic transfer from savings (ATS) accounts, and credit union share draft balances—as wellas a small amount of demand deposits at thrift institutions that cannot, using present datasources, be separated from interest-earning checkable deposits.A/2.—This measure adds to Ml overnight repurchase agreements (RP's) issued by com-mercial banks and certain overnight Eurodollars (those issued by Caribbean branches ofmember banks) held by U.S. nonbank residents, money market mutual fund shares, andsavings and small-denomination time deposits (those issued in denominations of less than$100,000) at all depository institutions. Depository institutions are commercial banks (includ-ing U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investmentcompanies), mutual savings banks, savings and loan associations, and credit unions.A/3.—This measure equals M2 plus large-denomination time deposits (those issued in denomi-nations of $100,000 or more) at all depository institutions (including negotiable CD's) plusterm RP's issued by commercial banks and savings and loan associations.L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting ofother Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercialpaper, savings bonds, and marketable liquid Treasury obligations.

it Includes ATS and NOW balances at all depository institutions, credit union sharedraft balances, and demand deposits at thrift institutions.

O Overnight (and continuing contract) RP's are those issued by commercial banks tothe nonbank public, and overnight Eurodollars are those issued by Caribbean branches ofmember banks to U.S. nonbank customers.

(a) Small time deposits are those issued in amounts of less than $100,000. Large timedeposits are those issued in amounts of $100,000 or more and are net of the holdings ofdomestic banks, thrift institutions, the U.S. Government, money market mutual funds, andforeign banks and official institutions.

# Includes data for items not shown separately.§ Effective Apr. 1988 SURVEY, 1987 data have been revised. Revisions for Jan. 1987:

long-term, 7,486; short-term, 372.

Page S-16@ Effective with the June 1988 SURVEY, total exports and imports have been revised

back io Jan. 1986. These revisions are available upon request. Data may not equal thesum of the geographic regions, or commodity groups and principal commodities, becausethe revisions to the totals are not reflected in the component items.

t Effective with the June 1988 SURVEY, seasonal adjustment of exports and importswas reintroduced. The monthly data were last adjusted for December 1985. Historical datafrom Jan. 1986 forward are available upon request.

§ Number of issues represents number currently used; the change in number does notaffect the continuity of the series.

$ For bonds due or callable in 10 years or more.# Includes data for items not shown separately.

Page S-17@ See note for p. S-16.t See note for p. S-16.# Includes data not shown separately.

Page S-181. Annual total; quarterly or monthly revisions are not available.2. Restaurant sales index data represent hotels and motor hotels only.3. For month shown.# Includes data for items not shown separately.§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled

service.# Data have been revised back to 1981. They now include commuter railroads and small

transit systems. Revised data are available upon request.$ The threshold for Class I railroad status is adjusted annually by the Interstate Com-

merce Commission to compensate for inflation.O Average daily rent per room occupied, not scheduled rates.## Data represent entries to a national park for recreational use of the park, its services,

conveniences, and/or facilities.t Before extraordinary and prior period items.@ Changes in these unit value indexes may reflect changes in quality or product mix as

well as price changes.

Page S-191. Reported annual total; monthly revisions are not available.2. Less than 500 short tons.# Includes data for items not shown separately.§ Data are reported on the basis of 100 percent content of the specified material unless

otherwise indicated.t Data for 1985-86 (and 1984, for inorganic chemical production items) have been revised

and are available upon request.O Beginning January, 1986, data are not directly comparable to earlier periods because

the data represent only companies that have annual revenues over $100 million.

Page S-201. Reported annual total; monthly or quarterly revisions are not available.2. Data are no longer available.§ Data are not wholly comparable from year to year because of changes from one classi-

fication to another.O Data for 1985-86 have been revised and are available upon request.@ Includes less than 500 electric generation customers not shown separately.t Effective with the May 1988 SURVEY, data have been revised back to 1985 and are

available upon request.

Page S-211. Previous year's crop. New crop is not reported until Sept. (crop year: Sept. 1-Aug. 31).2. Crop estimate for the year.3. Stocks as of June 1.4. Stocks as of June 1 and represents previous year's crop; new crop not reported until

June (beginning of new crop year).5. Less than 50,000 bushels.6. Stock estimates for barley and oats are available once a year as June 1 stocks and

shown here in the May column and (as previous year's crop) in the annual column.7. Stocks as of Dec. 1.8. See note "§" for p. S-6 regarding a change to a new reference base in 1988.9. Prices are no longer available.10. Based on quotations for fewer than 12 months.11. Aug. 1 estimate of the 1988 crop.§ Excludes pearl barley.# Bags of 100 Ibs.@ Quarterly data represent the 3-month periods Dec.-Feb., Mar.-May, June-Aug.,

and Sept. -Nov. Annual data represent Dec.-Nov.t Coverage for 21 selected States, representing approximately 85 percent of U.S. production.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 125: SCB_081988

August 1988 SURVEY OF CURRENT BUSINESS S-35

Page S-221. Monthly quotation not available.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.3. See note "t" for this page.§ Cases of 30 dozen.O Bags of 60 kilograms.t Effective with the release of 1st Qtr. 1988 data, the import price index for coffee has

been discontinued by BLS and replaced in the SURVEY with the import price index forcoffee and coffee substitutes. The weighting structure used for the import price index reflectsU.S. foreign trade flows based on 1985 data. Indexes, beginning with 2nd Qtr. 1975, areavailable upon request.

Page S-231. Crop estimate for the year.2. Reported annual total; revisions not distributed to the months.3. Data suppressed because they did not meet publication standards of the Bureau of

the Census.4. See note "§" for p. S-6 regarding a change to a new reference base in 1988.5. Aug. 1 estimate of the 1988 crop.# Totals include data for items not shown separately.

Page S-241. Annual data; monthly revisions not available.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.# New series from the American Metal Market. The composite scrap price represents

the average of consumers' buying prices, delivered, at the following markets: Chicago,Pittsburgh, and Philadelphia. Annual and monthly composite price data are available backto January 1982.

Page S-251. Annual data; monthly revisions are not available.2. For month shown.@ Beginning 1987, includes foreign ores.t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for

1981 and prior years represent aluminum content only.O The source for these series is now the Bureau of Mines.§ Source: Metals Week.

Page S-261. Annual data; monthly revisions are not available.2. Less than 50 tons.3. Total for 5 months; data for May, June, Sept., Nov., and Dec.4. Total for 10 months; no data for Jan. and Feb.O Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.@ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased

for direct shipment.$ Source for monthly data: American Bureau of Metal Statistics. Source for annual

data: Bureau of Mines.# Includes data not shown separately.§ Beginning with the Aug. 1985 SURVEY, unadjusted fluid power shipments indexes are

shown. Seasonally adjusted indexes are no longer available.t For an explanation of material handling equipment shipments and historical data, see

p. S-35 of the Dec. 1985 SURVEY.@@ Beginning Oct. 1986, the Lead price represents North American Mean.

Page S-271. See note "§" for p. S-6 regarding a change to a new reference base in 1988.2. Beginning January 1986, data have been restated because a new methodology has

been adopted.# Includes data for items not shown separately.§ Includes nonmarketable catalyst coke. See also note "tf'for this page.O Includes small amounts of "other hydrocarbons and alcohol new supply (field

production)," not shown separately.t Effective with the Oct. 1987 SURVEY, coal production data for 1986 have been revised.

Effective with the May 1988 SURVEY, coal consumption and stocks back through 1986have been revised. These revisions are available upon request.

@ Includes U.S. produced and imported microwave ovens and combination microwaveoven/ranges.

$ "Tractor shovel loaders" includes some front engine mount wheel tractors that hadpreviously been included in "Tractors, wheel, farm, and nonfarm."

ft Effective with the June 1988 SURVEY, data for 1987 have been revised and are avail-able upon request.

$$ March, June, September and December are five-week months. All others consist offour weeks.

Page S-281. Reported annual totals; revisions not allocated to the months.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.# Includes data for items not shown separately.t Except for price data, see note "ft" for p. S-27.

Page S-291. Reported annual totals; revisions not allocated to the months.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper

users.# Compiled by the American Newspaper Publishers Association.t Effective with the April 1988 SURVEY, the import price index for natural rubber has

been revised. The index is now expressed on a base of 1985 = 100. Also new weights based on1985 trade flows have been applied to all data from 1985 onward. Revised data are availableback to 4th qtr. 1983.

PageS-301. Reported annual total; revisions not allocated to the months.2. Monthly data are being withheld to avoid disclosing data from individual firms. Annual

total covers 9 months.3. Data cover five weeks; other months, four weeks.# Includes data for items not shown separately.O Cumulative ginnings to the end of month indicated.§ Bales of 480 Ibs.t Data for 1987 have been revised and are available upon request.

PageS-311. Less than 500 bales.2. Annual total includes revisions not distributed to the months.3. Average for crop year; Aug. l.-JuI. 31.4. For five weeks; other months four weeks.5. See note "§" for p. S-6 regarding a change to a new reference base in 1988.O Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised .price

reflects total quantity purchased and dollars paid for the entire month (revised price includesdiscounts and premiums).

# Beginning 1st Qtr. 1986; quarterly data are estimated by the American TextileManufacturers Institute based on annual data collected by the Bureau of Census.

§ Bales of 480 Ibs..t Beginning 1st Qtr. 1987, data are not comparable with earlier periods. Girls apparel

are now included with women's, misses' and juniors' and boys' apparel are now includedwith men's. Also, some classification changes were made.

Page S-321. Annual total includes revisions not distributed to the months.2. Production of new vehicles (thous. of units) for July 1988: passenger cars, 367; trucks

and buses, 235.3. Data are reported on an annual basis only.4. Effective with the Feb. 1988 SURVEY, data have been revised back to 1985 and are

available upon request.5. Beginning with January 1987, data include Honda, Nissan, and Toyota passenger cars

produced in U.S. plants.6. Beginning with January 1987, data include Nissan trucks produced in U.S. plants.7. Beginning with 1st qtr. 1987, jeans, jean-cut casual and dungarees are included with

trousers.8. See note "t" for this page.9. Effective with July 1988 SURVEY, data have been revised back to 1985 and are avail-

able upon request.# Total includes backlog for nonrelated products and services and basic research.§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and

imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.Imports comprise all other cars.

O Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some statesare not available, month-to-month comparisons are not strictly valid.

$ Excludes railroad-owned private refrigerator cars and private line cars.t Effective with the Mar. 1988 SURVEY, retail inventories for trucks and buses have

been restated to exclude captive imports (vehicles manufactured overseas by U.S. affili-ates). These data are available back through 1966.

t$ See note "t" for page S-31.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 126: SCB_081988

S-36 SURVEY OF CURRENT BUSINESS August 1988

Index to Current Business StatisticsSections

General:Business indicatorsCommodity pricesConstruction and real estateDomestic tradeLabor force, employment, and earnings . . ,Finance .

1-55,67,88,9

9-1313-16

Foreign trade of the United States ..........'.'.'.'.'.'.'.'.' 16-18Transportation and communication 18,19

Industry:Chemicals and allied products 19, 20Electric power and gas 20Food and kindred products; tobacco 20-23Leather and products 23Lumber and products 23,24Metals and manufactures 24-27Petroleum, coal, and products 27, 28Pulp, paper, and paper products 28, 29Rubber and rubber products 29Stone, day, and glass products 30Textile products 30-32Transportation equipment 32

Footnotes 32-35

Individual Series

Advertising .................................... 8, 12Aerospace vehicles ............................... 32Agricultural loans ................................ 13Air carrier operations ............................... 18Air conditioners (room) ............................ 27Aircraft and parts ................ ................ 4, 5, 32Alcohol, denatured and ethyl ........................ 19Alcoholic beverages .............................. 8, 20Aluminum ..................................... 25Apparel ............................... 2, 4-6, 8-12, 31, 32Asphalt ....................................... 28Automobiles, etc ..................... 2-4, 6, 8, 9, 14, 15, 17, 32

Banking ....................... ............... 13, 14Barley ........................................ 21Battery shipments . .v. ............................. 27Beef and veal ........ .......................... 22Beverages ..................................... 8, 17, 20Blast furnaces, steel mills ..................... . ..... 3-5Bonds, issued, prices, sales yields .................... 15, 16Brass and bronze ................................ 26Brick ....... . .... ............................. 30Building and construction materials .................... 2, 4, 5Building costs .................................. 7Building permits ................................. 7Business incorporation (new), failures .................. 5Business sales and inventories ....................... 2, 3Butter ____ ____ , ............................... 21

CarpetsCattle and calvesCementChain-store sales, firms with 1 1 or more storesCheese

312230

. ..... 9.............................. . ........ 21

Chemicals ............... .......... 2-4, 10-12, 15, 17, 19, 20Cigarettes and cigars ............................. 23Clay products .................................. 2-4, 30Clothing (see apparel)Coal ......................................... 2, 27Cocoa ....................................... 22Coffee ....................................... 22Coke ........................................ 27Combustion, atmosphere, heating equipment .......... ... 26Communication .......................... ....... 15, 19Construction:

Contracts ................................... 7Costs ........... ........................... 7Employment, unemployment, hours, earnings ...... ..... 10-12Housing starts ................................ 7New construction put in place ...................... 7

Consumer credit ................................. 14Consumer goods output, index ....................... 1,2Consumer Price Index ............................. 5, 6Copper and copper products ........................ 25, 26Corn ......................................... 21Cost of living (see Consumer Price Index) ............... 5, 6Cotton, raw and manufactures ........................ 5, 30, 31Credit, commercial bank, consumer .................... 14Crops ...................................... 5, 21-23, 30Crude oil ................................ . ..... 3, 27Currency in circulation ............................. 15

Dairy products .................................. 5, 21/Debt, U.S. Government ............................ 14Deflator, PCE .................................. 1Department stores, sales, inventories ................... 9 '•Deposits, bank ....... ........................... 13, 15Dishwashers and disposers ......................... 27

Disposition of personal income .Distilled spiritsDividend paymentsDrugstores, sales

120

1,15

8,9

Earnings, weekly and hourly 12Eating and drinking places 8, 9Eggs and poultry 5,22Electric power 2, 20Sectrical machinery and equipment 2-5,10-12,15, 27Employee-hours, aggregate, and indexes 11Employment and employment cost 10-12Exports (see also individual commodities) 16-18

Failures, industrial and commercial.Farm pricesFats and oilsFederal Government financeFederal Reserve SystemFederal Reserve member banks...FertilizersFishFlooring, hardwoodFlour, wheatRuid power products.

.............. 5.............. 5, 6.............. 17.............. 14.............. 13.............. 13.............. 19.............. 22.............. 24

.............. 22.............. 26

Food products ..................... 2-6, 8, 10-12, 15, 17, 20-23Foreign trade (see also individual commod.) .............. 16-18Freight cars (equipment) ........................... 32Fruits and vegetables ............................. 5Fuel oil ........... ............................ 6,28Fuels .................................... 2, 6, 17, 27, 28Furnaces ...................................... 27Furniture ..................................... 2, 6, 8-12

Gas, output, prices, sales, revenues ................... 2, 6, 20Gasoline ...................................... 28Glass and products ............................... 30Glycerin ...................................... 19Gold ......................................... 14Grains and products .................. , ........... 5, 21, 22Grocery stores . ................................. 9Gypsum and products ............................. 30

Hardware storesHeating equipmentHelp-wanted advertising indexHides and skinsHogsHome loan banks, outstanding advancesHome mortgagesHotels, motor hotels, and economy hotelsHours, average weekly

826126

2288

1811

Housefumishings ............................... 2, 4-6, 8, 9Household appliances, radios, and television sets .......... 27Housing starts and permits .......................... 7

Imports (see also individual commodities) ................ 17, 18Income, personal ................................ 1Income and employment tax receipts ................... 14Industrial production indexes:

By industry .................................. 1,2By market grouping ............................ 1,2

Installment credit ................................ 14Instruments and related products .................... 2-4, 10-12Interest and money rates ........................... 14Inventories, manufacturers' and trade .................. 3, 4, 8, 9Inventory-sales ratios ............................. 3Iron and steel ................................ 2, 15, 24, 25

Laborforce .................................... 9,10Lamb and mutton ................................ 22Lead ........................................ 26Leather and products ......................... 2, 6, 10-12, 23Livestock ...................................... 5,22Loans, real estate, agricultural, bank (see also Consumer credit) 8,13Lubricants ..................................... 28Lumber and products ....................... 2, 6, 10-12, 23, 24

Machine tools .................................. 26Machinery ......................... 2-6, 10-12, 15, 17, 26, 27Manufacturers' sales (or shipments), inventories, orders ...... 3-5Manufacturing employment, unemployment, production workers,

hours, earnings ............................... 10-12Manufacturing production indexes ..................... 1,2Meat animals and meats ........................... 5, 22Medical care ................................... 6Metals .............................. 2-6, 10-12, 15, 24-26Milk ......................................... 21Mining ....................................... 2, 10-12Mobile homes, shipments, installment credit .............. 7, 14Monetary statistics ............................... 15Money and interest rates ........................... 14Money supply .................................. 15Mortgage applications, loans, rates . . . . . ............... 8, 13, 14Motor carriers .................................. 18Motor vehicles ......................... 2-4, 6, 8, 9, 15, 17, 32

National parks, visits 18Newsprint 29New York Stock Exchange, selected data 16Nonferrous metals 2, 4, 5,15, 25, 26Oats... 21Oils and fats 17Orders, new and unfilled, manufacturers' 4,5Outlays, U.S. Government 14

Paint and paint materials 20Paper and products and pulp 2-4, 6,10-12,15, 28, 29Parity ratio 5Passenger cars 2-4, 6, 8, 9,15,17,32Passports issued 18Personal consumption expenditures 1Personal income 1Personal outlays 1Petroleum and products 2-4, 10-12,15,17, 27, 28Pig iron 24Plastics and resin materials 20Population 9Pork 22Poultry and eggs 5, 22Price deflator, implicit (PCE) 1Prices (see also individual commodities) 5,6Printing and publishing 2,10-12Private sector employment, hours, earnings 10-12Producer Price Indexes (see also individual commodities) 6Profits, corporate 15Public utilities 1, 2, 7,15,16, 20Pulp and pulpwood 28Purchasing power of the dollar 6

Radio and television 8, 27Railroads 13,16,18, 32Ranges and microwave ovens 27Rayon and acetate 31Real estate 8,13Receipts, U.S. Government 14Refrigerators 27Registrations (new vehicles) 32Rent (housing) 6Retail trade 2, 3,5, 8-12,14,32Rice 21Rubber and products (ind. plastics) 2-4,6,10-12, 29

Saving, personal 1Savings deposits 13Savings institutions 8,14Securities issued 15Security markets 15,16Services 6,10-12Sheep and lambs 22Shoes and other footwear 23Silver 14Spindle activity, cotton 31Steel and steel manufactures 24,25Stock market customer financing 15Stock prices, yields, sales, etc 16Stone, day, glass products 2-4,10-12,15, 30Sugar 23Sulfur 19Sulfuricadd 19Superphosphate 19Synthetic textile products 31Tea imports 23Telephone carriers 19Television and radio 27Textiles and products 2-4,10-12,15, 30-32Tin 26Tires and inner tubes 29Tobacco and manufactures 2-4,10-12,23Tractors 27Trade (retail and wholesale) 2, 3, 5, 8-12,32Transit lines, urban 18Transportation 6,10-12,15,16,18Transportation equipment 2-6,10-12,15,17, 32Travel 18Trucktrailers 32Trucks 2, 32

Unemployment and insurance 9,10,13U.S. Government bonds 16U.S. Government finance 15Utilities 2, 6, 7,15, 16, 20Vacuum cleaners 27Variety stores 9Vegetables and fruits 5

Wages and salaries 1,12Washers and dryers 27Water heaters 27Wheat and wheatflour 21,22Wholesale trade 2,3, 5, 8,10-12Wood pulp 28Wool and wool manufactures 31Zinc 26

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 127: SCB_081988

BEA Information

Available From GPO

SURVEY OP CUKEENT BUSINESS, Contains estimates and analyses of U.S.economic activity. Features include a review of current economic develop-ments; articles pertaining to BEA's work on the national, regional, andinternational economic accounts and related topics; quarterly nationalincome and product accounts tables; and 36 pages of tables that presentover 1,900 major economic series obtained from other public and privatesources. Monthly. $6.50 single copy; $18,00 per year.

Business Statistics: 1986, (1987) Provides monthly or quarterly datafor 1983-86 and annual data for 1961-86 for series that appear in theSURVEY OF CURRENT BUSINESS. Also contains definitions of terms, sources ofdata, and methods of compilation. 325 pages. $16,00 (GPO Stock No. 003-010-00181-0).

Business Conditions Digest. Contains tables and charts for 300series, including business cycle indicators and other series that helpevaluate business conditions. Features the composite indexes of leading,coincident, and lagging indicators. Also included are cyclical comparisoncharts and data sources. Monthly, $4.00 single copy; $44.00 per year.

Handbook of Cyclical Indicators. (1984) Contains series descrip-tions and data for 1947--82 for all series that appear in Business ConditionsDigest. Features the composite indexes of cyclical indicators. 195 pages.$5.50 (GPO Stock No. 003-010-00127-5).

The National Income and Product Accounts of the United States,1929-82: Statistical Tables. (1986) Contains detailed estimates of thenational income and product accounts for 192&-82 from the comprehen-sive revision released in 1985. Also includes definitions of the major com-ponents of the accounts and of the major sectors of the economy, 442 pages.$23,00 (GPO Stock No. 003-010-00174-7).

BEA Methodology Paper No, 1; Introduction to National Eco-nomic Accounting. (1985) Introduces the concepts of the nationalincome and product accounts by placing these accounts within the frame-work of national economic accounting. Shows how the national income andproduct accounts, capital finance accounts, and input-output accounts—the major branches of national economic accounting in the United States—are derived from the conventional accounting statements, 19 pages, $1.00(GPO Stock No. 003-010-00158-5).

BEAMethodology Paper No. 2: Corporate Profits: Profits BeforeTax, Profits Tax Liability, and Dividends. (1985) Describes the con-cepts, sources, and methods of the corporate profits components of thenational income andproduct accounts. 61 pages $2.50 (GPO Stock No. 003-010-00143-7).

BEA Methodology Paper No. 3: Foreign Transactions. (1987) De-scribes the preparation of estimates in the national income and productaccounts (NIPA's) of net exports (both current- and constant-dollar),transfer payments to foreigners, capital grants received by the UnitedStates, interest paidby Government to foreigners, and net foreign invest-ment. Also describes the relationship between foreign transactions esti-mates in the NIPA's and those in the balance of payments accounts, 52pages. $2.75 (GPO Stock No, 003-010-00178-0),

BEAMethodology Paper No. 4: ONP: An Overview of Source Dataand Estimating Methods, (1987) Providesbasicinformation about GNP,including the conceptual basis for the account that presents GNP, defini-tions of each of the components on the income and product side of thataccount, and a summary, presented in tabular form, of the source data andmethodsusedinpreparingestimates of current- andconstant-dollarGNP.Also provides an annotatedbibliography, with a directory, of the more than50 items over the last decade that provided methodological informationabout GNP, 36 pages, $2,00 (GPO Stock No. 003-010-00179-8).

Index of Items Appearing in the National Income and ProductAccounts Tables, (1987) Indexes general subject areas as well as detailedline items in the national income and product accounts tables, 18 pages,$1.25 (GPO Stock No. 003-010-00180-1).

Fixed Reproducible Tangible Wealth in the United States, 1925-85. (1987) Contains annual estimates of the stock of privately owned andgovernment-owned durable equipment and structures and of durablegoods owned by consumers in the United States for 1925-85, Estimates arefor fixed nonresidential private capital by major industry group (farm,manufacturing, and nonfarm nonmanufacturing), for residential capitalby tenure group (owner-occupied and tenant-occupied), for government-

owned fixed capital by type of government (Federal and State and local),and for 11 types of durable goods owned by consumers. 400 pages, $18,00(GPO Stock No, 003-010-00177-1).

Local Area Personal Income, 1981-86. (1988) Contains estimates ofpersonal income by major type of payment and earnings by major industry >population, and total and per capita personal income for regions, States,counties, and metropolitan areas,

Vol. 1. Summary: Regions, States, and Metropolitan Areas. Esti-mates for the United States, regions, States, and metropolitan areas.Also contains county definitions of metropolitan areas, a detaileddescription of sources and methods, and samples of tables available.254 pages, $13.00 (GPO Stock No. 003-010-00182-3).

Vol. 2. New England, Mideast, and Great Lakes Regions. (CT, DE,DC, IL, IN, ME, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, WI) 276pages, $14.00 (GPO Stock No. 003-010-00183-6).

Vol. 3. Plains Region. (IA, KS,MN,MO,NE,ND, SD) 190 pages. $11,00(GPO Stock No, 003-010-00184-4).

Vol. 4. Southeast Region. (AL, AR, PL, GA, KY, LA, MS, NC, SC> TN,VA, WV) 326 pages. $16.00 (GPO Stock No, 003-010-00185-2).

Vol. 5. Southwest, Rocky Mountain, and Far West Regions andAlaska and Hawaii. (AK, AZ, CA> CO, HI, ID, MT, NV, NM, OK, OH,TX, UT, WA, WY) 278 pages. $14.00 (GPOStockNo 003-010-00186-1),

Regional Multipliers: A User Handbook for the Regional Input-Output Modeling System (RIMS II), (1986) Contains an explanation ofhow to use regional input-output multipliers, by industry, for output,earnings, and employment. 131 pages. $6,50 (GPO Stock No. 003-010-00163-1).

1985 OBERS BEA Regional Projections. (1985) Two volumes,Vol. 1. State Projections to 2035.131 pages. $4.75 (GPO Stock No.003-010-00157-7).

Vol. 2. Metropolitan Statistical Area Projections to 2035. 356pages. $12,00 (GPO Stock No. 003-010-159-3),

TO ORDER: The GPO publications listed above must be ordered from:Superintendent of Documents, U.S. Grovernment Printing Office, Wash-ington, DC 20402, Payment maybe by check (made payable to Superinten-dent of Documents) or charged to a GPO deposit account number, VISA,or MasterCard, To order by phone: (202) 783-3238,

Available From BEA

Foreign Direct Investment in the United States: Operations ofU.S. Affiliates of Foreign Companies, Preliminary 1986 Estimates.(1988) Contains information on the financial structure and operations ofnonbank U.S. affiliates of foreign direct investors. Data are classified byindustry of U.S. affiliate, by country and industry of ultimate beneficialownr, and, for selected data, by State. 56 pages. $5.00 (AccessionNo. BEA-IID-88-102),

U.S. Direct Investment Abroad: Operations of U.S. ParentCompanies and Their Foreign Affiliates, Preliminary 1086 Es-timtes. (1988) Contains information on the financial structure and opera-tions of both U.S. parent companies and their foreign affiliates. Data areclassified by country and industry of foreign affiliate and by industry ofU.S, parent. 76 pages. $5,00 (Accession No. BEA-IID-88-104).

BEA Working Paper No. 6: Status Report on Statistical andMethodological Improvements in the U.S. Balance of PaymentsStatistics. (1988) Reviews major problems, such as timing and coverage,in the balance of payments accounts; describes statistical and methodo-logical improvements BEA has undertaken to resolve some of the prob-lems; and discusses projects for future improvements. 20 pages. $5.00(Accession No, BEA-OD-88-001).

TO ORDER: The BEA publications listed above must be ordered from:Economic and Statistical Analysis/BEA, U.S. Department of Commerce,Citizens and Southern National Bank, 222 Mitchell St., P,Q. Box 100606,Atlanta, GA 30384. Orders must include a check, payable to Economic andStatistical Analysis/BEA. For further information, call (202) 523-0777,

BEA's economic information is available in publications, on computertapes, on diskettes, and through a variety of other products and services.Most of these are described in A User's Guide to BEA Information, Fora copy, send a self-addressed stamped envelope (8 1/2 by 11 inches, with75 cents postage) to Public Information Office, Bureau of EconomicAnalysis, U.S. Department of Commerce, Washington, DC 20230,

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 128: SCB_081988

UNITED STATESGOVERNMENT PRINTING OFFICE

SUPERINTENDENT OF DOCUMENTS

WASHINGTON, D C 20402

OFFICIAL BUSINESS

Penalty for Private Use, $300Stimulating America's Progress

1913-1988

SECOND CLASS MAIL

POSTAGE AND FEES PAIDU.S. GOVERNMENT PRINTING OFFICE

USPS Pub. No. 337-790

1988 RELEASE DATES FOR BEA ESTIMATES

Subject ReleaseDate*

Subject ReleaseDate*

State Personal Income, 3d quarter 1987Gross National Product, 4th quarter 1987 (advance)..Personal Income and Outlays, December 1987

Composite Indexes of Leading, Coincident, and Lagging Indica-tors, December 1987.

Merchandise Trade (balance of payments basis), 4th quarter 1987Gross National Product, 4th quarter 1987 (preliminary)Personal Income and Outlays, January 1988

Jan.Jan.Jan.

Feb.

Composite Indexes of Leading, Coincident, and Lagging Indica-tors, January 1988.

Summary of International Transactions, 4th quarter 1987Gross National Product, 4th quarter 1987 (final)Corporate Profits, 4th quarter 1987Personal Income and Outlays, February 1988Composite Indexes of Leading, Coincident, and Lagging Indica-

tors, February 1988.

Personal Income for Counties and Metropolitan Areas, 1986Merchandise Trade (balance of payments basis), 1st quarter 1988Gross National Product, 1st quarter 1988 (preliminary)Corporate Profits, 1st quarter 1988Personal Income and Outlays, April 1988

Composite Indexes of Leading, Coincident, and Lagging Indica-tors, April 1988.

Plant and Equipment Expenditures, 1st quarter 1988 and RevisedPlans for 1988.

Summary of International Transactions, 1st quarter 1988Gross National Product, 1st quarter 1988 (final)Corporate Profits, 1st quarter 1988 (revised)Personal Income and Outlays, May 1988Composite Indexes of Leading, Coincident, and Lagging Indica-

tors, May 1988.

212728

Feb. 24Feb. 25Feb. 26

Mar. 1

Mar. 15Mar. 23Mar. 23Mar. 24Mar. 29

Plant and Equipment Expenditures, 4th quarter 1987 and Revised Apr. 15Plans for 1988.

State Personal Income, 4th quarter 1987 and Per Capita Personal Apr. 20Income, 1987 (preliminary).

Gross National Product, 1st quarter 1988 (advance) Apr. 26Corporate Profits, 4th quarter 1987 (revised) Apr. 26Personal Income and Outlays, March 1988 Apr. 27Composite Indexes of Leading, Coincident, and Lagging Indica- Apr. 29

tors, March 1988.

May 4May 25May 26May 26May 27

June 1

June 9

June 14June 23June 23June 24June 29

For information, call (202) 523-0777, Bureau of EconomicAnalysis, U.S. Department of Commerce.

State Personal Income, 1st quarter 1988 July 20Gross National Product, 2d quarter 1988 (advance) July 27Personal Income and Outlays, June 1988 July 28

Composite Indexes of Leading, Coincident, and Lagging Indica- Aug. 2tors, June 1988.

State Per Capita Personal Income, 1987 (revised) Aug. 18Merchandise Trade (balance of payments basis), 2d quarter 1988 Aug. 24Gross National Product, 2d quarter 1988 (preliminary) Aug. 25Corporate Profits, 2d quarter 1988 Aug. 25Personal Income and Outlays, July 1988 Aug. 26Composite Indexes of Leading, Coincident, and Lagging Indica- Aug. 30

tors, July 1988.

Plant and Equipment Expenditures, 2d quarter 1988 and Revised Sept. 8Plans for 1988.

Summary of International Transactions, 2d quarter 1988 Sept. 13Gross National Product, 2d quarter 1988 (final) Sept. 20Corporate Profits, 2d quarter 1988 (revised) Sept. 20Personal Income and Outlays, August 1988 Sept. 21Composite Indexes of Leading, Coincident, and Lagging Indica- Sept. 30

tors, August 1988.

State Personal Income, 2d quarter 1988Gross National Product, 3d quarter 1988 (advance).Personal Income and Outlays, September 1988

Composite Indexes of Leading, Coincident, and Lagging Indica-tors, September 1988.

Merchandise Trade (balance of payments basis), 3d quarter 1988Gross National Product, 3d quarter 1988 (preliminary)Corporate Profits, 3d quarter 1988Personal Income and Outlays, October 1988

Oct.Oct.Oct.

Nov.

182627

Nov. 28Nov. 29Nov. 29Nov. 30

Composite Indexes of Leading, Coincident, and Lagging Indica- Dec. 1tors, October 1988.

Summary of International Transactions, 3d quarter 1988 Dec. 13Gross National Product, 3d quarter 1988 (final) Dec. 20Corporate Profits, 3d quarter 1988 (revised) Dec. 20Personal Income and Outlays, November 1988 Dec. 21Plant and Equipment Expenditures, 3d quarter 1988, Revised Dec. 281

Plans for 1988, and Plans for 1989.Composite Indexes of Leading, Coincident, and Lagging Indica- Dec. 30

tors, November 1988.

tA transfer of the Plant and Equipment Expenditures surveyto the Census Bureau is planned. Under the plan, the CensusBureau will issue this release on the date (revised) indicated.

* These are target dates and are subject to revision.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis