68
OCTOBER 1960 survey of CURRENT BUSINESS U.S. DEPARTMENT OF COMMERCE OFFICE OF BUSINESS ECONOMICS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
OCTOBER 1960
survey of
CURRENTBUSINESS
U.S. DEPARTMENT OF COMMERCEOFFICE OF BUSINESS ECONOMICS
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESSOCTOBER 1960 VOL. 40, NO. 10
ContentsBUSINESS REVIEW PAGE
Summary 1Business activity maintained in September with income steady-
employment trends mixed.
Shifting Inventory Movement 3Manufacturers' changes volatile with durable goods reduced
nondurables steady.Prospective Government ProgramsThe Year Ahead. . 4Farm Production and Income 7
Crop production highershift in livestock.National Income and Corporate Profits 9
National Income reaches new high in second quarter.
ARTICLESBusiness Financing in I960 13
Fixed capital demands remain highworking capital needs shiftsupply conditions eased.
Sources and Uses of Corporate Funds 15
Capital Outlays Abroad by U.S. Companies
Rising Plant Expansion Abroad 18
Sources of Financing of Foreign Investment 21
MONTHLY BUSINESS STATISTICSGeneral S1-S24Industry . . . S24-S40Subject Index Inside Back Cover
U.S. Department of Commerce
Frederick H, Mueller,Secretary
Office of Business EconomicsM. Joseph Median,
Director
Louis J. ParadiseManaging Director
Loughlin F. McHughBusiness Review Editor
K. Celeste StokeStatistics Edito?
Billy Jo DawkinsGraphics
STAFF CONTRIBUTORSTO THIS ISSUE
Business Review and Features:Genevieve WimsattJoseph RosenthalL. Jay AtkinsonJacquelin Baunian
Articles:Loughlin F. McHughSamuel PizerFrederick Cutler
Julius N. FreidlinBentil RenborgChristopher M. DoutyJames LopesEdmund L. Auchter
Subscription prices, including weeklystatistical supplements, are $4 a year foidomestic and $7.50 for foreign mailing. SingUissue 30 cents.
Make checks payable to the Superintendemof Documents and send to U.S. GovernmenlPrinting Office, Washington 25, D.C., or t1
123
12411
48
9
14(*)(*)261
189
72
(*)(*)(*)(*)
36
(*)15
Man-ufa c-tur-ing
1 180
404
210
661947
144
2883
9-
f]171
1
459
166
10429514
293
133
4277
3
10
(**)(**)
99
(**)42
39
16142
54
53
Min-ingand
smelt-ing
430
240
125
31(*)
8C*)*
(*)1
41(*)
46(*) 1
26
(**)
(**)
(**)(**)(**)(**)( * * )
(**)(**)(**)(**)
25
1
4
206
14
2I
2
(*)(*)
12
12
1959
Petro-leum
1 574
378
412
24111
12
388
308
(*)2595
2909
50
339
174
1141591944
165
11is
(**)3
99
65
36
9
J l(*)(*)
129
97
(*)(*)(*)(*)
49
(*)55
Man-ufac-tur-ing
1 141
379
226
551045
171
29114
3
^12
2
433
213
847
139109
920
133
3204
4
6
1(**)(**)
55
(**)41
389
14132
5453
Min-ingand
smelt-ing
358240
48
12(*) 6(*)
39
(*) 121
(*) 9(*)
309
(**)
(**)(**)(**"l(**)(**)
(**)J**j
o
211
(**)
IS6
12
9
2
(*)(*)
12
12
1960
Petro-leum
1 575
390
346
27101
16
319
2810
(*)20
2303
46
369
176
24160
26
193
9-
189933
121
90101011(*)(*)
228194
104
(*)(*)(*)(*)
65
(*)10
Man-ufac-tur-ing
1 314382
232
56947
176677485
19
2
580269
1148
18319
31 1
13433
993
i(**)
66
(**)
524
48
925122
5957
in 1960, are especially large in chemicals,while in the Philippine Republic theemphasis is on food products.
Large Petroleum Outlays AbroadNearly $2 billion is being spent abroad
by U.S. petroleum companies in 1960 toadd to plant and equipment and fordevelopment in all phases of the in-dustry. This total includes $1.6 billionclassified as capital outlays and some$400 million of exploration and develop-ment expenditure charged against in-come. The latter outlays are relativelystable, and are based on the long-termexpectation of rising world demand.Despite cutbacks since 1957, therefore,this Industry continues to account fora major portion of foreign investmentactivity by U.S. business.Exploration and Development Expenditures
of Petroleum Companies Charged AgainstIncome
[Millions of dollars]
TotalCanadaLatin AmericaEuropeAfricaAsia
1957
386
153113452946
1958
4 1 1
158136574746
1959
402
123131514948
"Included in area total. **Less than $500,000.
In some areas investments in thepetroleum industry are rising in 1960;refinery expansion and other outlaysincreased in a number of Europeancountries and in Australia, and develop-ment of new resources required largerinvestments in North Africa. Capitaloutlays were considerably lower in 1960in Latin America, with the reductioncentered in Venezuela. Although plantand equipment expenditures in Canadahave also declined, they remain at anannual rate of nearly $400 millionannually, accounting for about onequarter of the industiy's foreign capitalexpenditures.Mining outlays lower
Reduced capital expenditures by min-ing enterprises abroad in 1960 reflectprimarily the completion of a few largeprojects. These reductions occurredlargely in Chile, Peru and Cuba; inthe last named country the existingproperties have recently been seized.
Mining investments in Canada ac-count for two-thirds of the industrytotal in 1960, and are expected to con-tinue on a large scale. New projectsare also expected to bring an upturnDigitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1000 SURVEY OF CURRENT BUSINESS 21
for the industry in Latin America andsome parts of Africa.
Other industriesInvestment by other industries, ex-
cluding construction abroad by someshipping companies, is estimated atat about $0.6 billion in 1960. Abouthalf of these outlays are by firms intrade and distribution, which have in-creased their investment programs eachyear since 1957, and reported a sharpincrease in Europe in 1960.
Outlays by the public utilities havedropped very sharply from the 1957amount. In Canada, where pipelinesare an important part of this industry,some increase in expenditures is ex-pected. For Latin America the aggrre-gate of capital outlays by the utilityfirms is declining rapidty, though notin every country. Agricultural invest-ments, also important in Latin America,continue to drop, with large propertiesin Cuba seized by the government, andoperating problems remaining to besolved in other countries.
Increase in other assetsAfter reducing inventories on balance
in 1958, the foreign enterprises resumeda sizable inventory accumulation in1959, amounting to $0.4 billion. Re-ceivables also increased $0.5 billion inthe 3^ear, and about $0.8 billion wasused to acquire other assets. Thesefigures cover only the manufacturing,petroleum and mining companies. En-terprises in other industries, especially
in trade and distribution, also addedmoderate amounts to inventories andreceivables in 1959.
Inventory accumulation was largestin manufacturing, paralleling the gen-eral experience of industrial companiesin the 1959 business upturn. This in-dustry also accounted for most of theexpansion in receivables and miscel-laneous assets, notably in Europeanoperations.
Sources of FinandnIN order to carry out the additions
to fixed and other assets describedabove, the companies in the manu-facturing, petroleum and mining in-dustries required $4.8 billion of fundsin 1959. Over half of these resourceswere provided by the foreign enter-prises out of retained earnings of $0.9billion and depreciation and depletioncharges of $1.8 billion. External fi-nancing of $1.2 billion was supplied by
Table 2.Plant and Equipment Expenditures Abroad by U.S. Manufacturing Com-panies, by Major Commodities and Areas, 1957-60
[Millions of dollars]
All areas, total1957 ^ -195819591960
Canada1957195819591960
Latin America 11957195819591960
Europe:Common market
1957195819591960
Other Europe1957195819591960
Other areas1957195819591960
Manufac-turins;,total
1,3471. 1801 1411,314
561404379382
174211228234
179166213269
319293220311
115106101118
Foodprod-ucts
788776
110
20252238
16221428
106
1714
20191117
12151213
Paperand
alliedprod-ucts
1441029078
120827560
11857
4433
4545
5333
Chemi-cals andalliedprod-ucts
234261216245
95967668
49515671
26222236
48714950
16211320
Rub-ber
prod-ucts
80676955
17101414
17181715
3554
19232515
24118
Primaryand
fabri-cated
metals
208130132135
148586160
1517179
117
12
26403739
88
1015
Machin-ery
(exceptelec-
trical)
120116106127
28118
16
3432
37536466
44412534
8769
Electri-cal
machin-ery
998388
129
32222233
22151536
14182024
20121520
11161616
Trans-porta-tion
equip-ment
268221259327
56596153
20508351
61365993
1106136
107
21152023
Othermanufac-turing
117113105108
45414040
21261815
13151617
28211824
10101312
1. Includes minor amounts in European dependencies.Note: Data for 1960 are based on anticipations of reporting companies.
parent companies and others in theUnited States, and $0.9 billion byforeign creditors and investors.
The volume of financing utilized in1959 was $0.4 billion larger than in1958, mainly because of the step up ininventory accumulations. In 1957 apeak amount of nearly $6 billion wasnecessary to pay for large expansionsof both fixed and current assets.
Enterprises in other industries ob-tained about $1 billion in 1959, ofwhich nearly two-thirds was providedout of retained earnings and depreci-ation charges.
Internal Fund Sources
The largest and most consistentsource of funds for financing foreignoperations is the annual charge fordepreciation and amortization of exist-ing fixed assets, including smallamounts of depletion charges. Thesecharges for the three major industriesamounted to $1.8 billion in 1959, andare growing by some $150-200 millionannually. About $300 million a 3 earis also charged to depreciation byenterprises in other industries.
At current levels depreciation chargesare equal to about 60 percent of foreignplant and equipment expenditures. Incomparable domestic industries the pro-portion is much higher.
About $0.9 billion of the depreci-ation charges originate in the petro-leum industry, including about $100million of depletion charges. LatinAmerica accounted for one-third of thetotal. In the aggregate, these chargeswere equal to over half of this in-dustry's capital expenditures, with the
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22 SUEVEY OF CURRENT BUSINESS October 1960
Table 3.Plant and Equipment Expendi-tures Abroad in Selected Industries, byArea, 1957-60
[Millions of dollars]
Areas and industries
Selected industries, totalAgriculturePublic utilities lTradeMiscellaneous
Canada, total .Public utilitiesTradeAgriculture and miscellaneous _ _
Latin America, totalAgriculture.--Public utilitiesTrade -Miscellaneous
Europe, totalTrade _Public utilities and miscella-
neous
Other areas -. _AgriculturePublic utilities i._TradeMiscellaneous ...
1957
72910833518610528513647
10225848
1642026
125107
18
619
241216
1958
64357
30919186
2251105560
26940
1823116
9487
55
161814
1959
57253
21222483
202756562
20334
3314
109102
58
142413
1960
60548
17729684
217807562
17029824514
148141
70
143514
1. Excludes expenditures of international shipping com-panies.
ratio higher in Latin America and Asia,but lower in Canada where such expend-itures were considerably larger.
Depreciation charges in the manu-facturing enterprises at about $0.7billion are growing rapidbr in line withthe expansion of the industry. In 1959,as in the previous 2 years, this was thelargest source of funds for manufac-turing exceeding reinvested earningsand capital flows from the UnitedStates. Most of the depreciationcharges are in Canada and Europe,where manufacturing assets are largest.
In the mining and smelting industry,these depreciation and depletioncharges are comparatively small in theaggregate, although in 1959 they wereabout 40 percent as large as capitalexpenditures.Retained earnings
For the manufacturing, petroleumand mining enterprises, retained earn-ings amounted to $0.9 billion in 1959.This was somewhat larger than the 1958amount, but much smaller than therecord $1.4 billion of 1957, when alarge part of peak earnings in petroleumwas retained abroad for investment.
Over $0.6 billion of the 1959 amountwas retained abroad by the manu-facturing companies. Earnings in thisindustry reached a new high in thatyear, and 60 percent of the increase, inthe aggregate, was reinvested. The
increased availability of funds fromthis source was especially important inCanada.
For the petroleum enterprises, theamount of income considered to havebeen remitted has remained fairlysteady in the 1957-59 period. Earn-ings of the industry were much higherin 1957 than in subsequent years, andabout half of the total was retainedabroad to finance peak foreign outlays.With investments considerably lowerthereafter, the companies have reliedprimarily on other sources of funds.
Earnings of mining companies rosesharply in 1959, with most of the in-crease retained abroad for investment.
External Financing
The three major industries, mining,petroleum and manufacturing, obtainedabout $1.2 billion of financing fromU.S. investors and creditors in 1959.As shown in table 4, this was a smallincrease over the 1958 amount, withmanufacturing enterprises in Europeresponsible for most of the rise.
This category of the sources offunds accounts corresponds, with somemodifications, to the data for capitaloutflows included in the balance-of-pay-ments accounts. In both 1958 and1959 these capital outflows were sub-stantial, but were only about one-thirdas large as outlays abroad for plant andequipment. Increased cash flows fromother sources tend to reduce relianceon transfers of funds from parent com-panies except when major projects areundertaken, or there is a sharp fluctua-tion in working capital requirements.Of course, new enterprises are financedlargely by parent companies In theaggregate, the increase in funds sup-plied from the United States between1958 and 1959 provided about 30 per-cent of the overall increase in fundsrequired.
In addition to the increased financingfrom the United States of manufactur-ing operations in Europe, the flow tothis industry in Canada was also raisedin 1959. The aggregate flow to pe-troleum enterprises was unchanged;the amount provided for Canadianoperations was lower, in line with re-duced investment activity, while some-what larger amounts flowed to Europeand Latin America.
SOURCES AND USES OF FUNDSDirect Foreign Investments
SOURCES: Operations of the ForeignAffiliates a Major Factor in Financing
IB i l l i o n $2 3
Internal Sources-Retained Earningsand Depreciation
Funds From U.S.
Funds ObtainedAbroad
USES: Resources Are Used PrincipallyTo Enlarge and Improve Productive Facilities
Plant andEquipmentExpenditures
Inventories,Receivables, andOther Assets
NOTE. Includes only the manufacturing mining and petroleumindustries.
U. S. Department of Commerce, Office of Business Economics 60-10-1.3
Funds obtained abroad
Foreign creditors and investors pro-vided about $0.9 billion in 1959,slightly less than in 1958. Petroleumcompanies sharply reduced their useof local financing; in Canada andEurope the reduction reflected a lowerrate of investment in fixed and otherassets, while in Latin America partof the shift from 1958 was related topayments of tax liabilities accrued in1958.
A large increase in external foreignfunds employed in the manufacturingenterprises was reported in Europe, anda smaller increase occurred in Canada.In both cases the financing appearedto be related largely to mounting work-ing capital needs.
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October 1060 SURVEY OF CUERENT BUSINESS 23
Assets and Financial Structure
A MAJOR objective of the Office ofBusiness Economics census of foreignbusiness investments was to obtain newdata on the assets employed by thedirect-investment enterprises, and toexamine their financial structure.
Total assets employed by U.S. direct-investment enterprises abroad werenearly $42 billion in 1957, excludingassets of financial organizations andafter consolidating investments in affili-ated foreign enterprises.
Financing of these resources wasdivided between U.S. parent companiesand other U.S. residents, that had $24billion invested, and local investorsabroad that provided $18 billion. TheU.S. ownership was mainly in the formof equity interests in stock, surplus, andbranch accounts, while foreign investorsfinanced most of the debt of the enter-prises.
Assets employed in 1957 were $23billion larger than the 1950 total of$19 billion. The U.S. investment inthese enterprises (excluding finance)rose $13 billion in the period, and thefirms utilized $10 billion of financingobtained abroad. The latter figure in-cludes the share of foreign investors inundistributed earnings.
Fixed assetsAbout half of the assets employed
abroad consisted of fixed assets, afterdeducting reserves for depreciation andamortization; current assets accountedfor 43 percent, and miscellaneous assets,for 7 percent. Gross fixed assets, beforededucting reserves, were over $32 billion.
About 40 percent of the gross assetswere utilized by petroleum companiesand 30 percent in manufacturing.Alining and public utility enterpriseseach accounted for somewhat over10 percent.
Depreciation
About 36 percent of the value of fixedassets was set aside in reserves fordepreciation, amortization and deple-tion of the underlying plant, propertyand equipment. The ratio was some-what higher than this average in manu-
facturing and mining, and, as usual,much lower in public utilities.
In general, the ratio of reserves tofixed assets is lower in the foreigndirect-investment enterprises than incomparable industries in the UnitedStates.
Current assetsNearly $18 billion of current assets
were held by direct-investment enter-prises in 1957, including cash, receiv-
ables, and inventories. About 45percent was held by manufacturingcompanies, and nearly 30 percent bythe petroleum industry.
Current assets made up 30-34 percentof total assets in the extractive in-dustries, around 55 percent in manu-facturing, and about 70 percent for thetrading companies. These ratiostended to be higher than those in com-parable U.S. industry groups, althoughthe general pattern was quite similar.In domestic firms holdings of govern-ment and other securities tend to bemuch larger proportionately than equiv-alent assets on the foreign books. If
Table 4.Sources and Uses of Funds of Direct Investment Enterprises, by Area andSelected Industry, 1957-59
[Millions of dollars]SOURCES OF FUNDS
Area and industry
All areas, total -__
Mining and smelting.PetroleumManufacturing.. .
Canada, totalMining and smelting.Petroleum .Manufacturing
Latin America, totalMining and smelting.PetroleumManufacturing
Europe, totalMining and smelting.PetroleumManufacturing .
Other areas, totalMining and smelting .PetroleumManufacturing
Total
1957
7, 584
7464,3012,537
1,863269764830
2,472387
1,625460
1,56010
574976
1, 69180
1,339272
1958
6,273
6573, 2782,338
1,603225616762
1,655342919394
1,54710
648889
1, 46880
1,095293
1959
6, 732
8542,8862,992
1,833395439999
1,470343702425
1,87510
5781,287
1, 554106
1, 167281
Net income
1957
3,063
3291, 738
996
662117150395
930125660145
50710
155342
96477
773114
1958
2,611
2421, 3251,044
5416276
403
653127409117
5038
105390
91445
735134
1959
2,843
3721,1961,275
71711299
506
655187333135
6208
116496
85165
648138
Funds fromUnited States
1957
1,702
2341,043
425
48077
213190
864159582123
2381
16275
120-38637
1958
1,065
227529309
42378
234111
2721307567
1621
6596
20818
15535
1959
1,181
184528469
376121112143
23836
13270
381(*)
150231
18627
13425
Funds obtainedabroad !
1957
1, 429
19832578
23411
231-8
33024
159147
513-3149367
352-13293
72
1958
982
43594345
13135
128-32
29510
135150
519(*)
356163
37-2
-2564
1959
937
136248553
184953950
10646
-90150
4451
144300
202 615553
Depreciationand depletion
1957
1, 390
163688539
48764
170253
34879
22445
3001
107192
25519
18749
1958
1,615
145830640
50850
178280
43575
30060
3631
122240
30919
23060
1959
1,771
162914695
55667
189300
47174
32770
429i
168260
31520
23065
USES OF FUNDS[Millions of dollars]
Area and industry
All areas, total .
Mining and smelting .Petroleum.M anufacturing
Canada, totalMining and smeltingPetroleum.Manufacturing
Latin America, totalMining and smeltingPetroleum.Manufacturing
Europe, totalMining and smelting.Petroleum.Manufacturing
Other areas, totalMining and smelting.Petroleum . ...Manufacturing
Total
1957
7,584
7464,3012, 537
1,863269764830
2,472387
1,625460
1,56010
574976
1,69180
1.339272
1958
6,273
6573,2782, 338
1,603225616762
1,655342919394
1,54710
648889
1,46880
1,095293
1959
6,732
8542,8862,992
1,833395439999
1,470343702425
1,87510
5781, 287
1,554106
1, 167281
Property, plant,and equipment
1957
4,090
4212,3221,347
1,308163584561
1,429216
1,039174
7742
275497
57940
424115
1958
3,454
4201,8541, 180
1,086172510404
1,000221577202
882
422460
48627
345114
1959
3,091
4171,5541,120
997240378379
825151462212
759(*)339420
51026
375109
Inventories
1957
637
45265327
124224953
147215967
2431
90152
1231
6755
1958
-36
-30-58
52
-92-5
-22 65
9-20-20
49
18(*)-20
38
29-5
430
1959
378
378349
16418
-4150
8918
-30101
94(*)
589
311
219
Receivables
1957
705
24467214
135
24-16
29210
19686
198-186
113
20210
16131
1958
362
20166176
921
5635
5110
-1051
169-111060
50101030
1959
500
7065
365
118261280
95253040
247i23
225
4020
(*)20
Other assets
1957
508
34296178
859
4135
187575476
61i1646
175-3118521
1958
622
37178407
1%-225
173
84301638
1871
41145
1558
9651
1959
814
189548
20250
5157
1915
-4814
392(*)86
306
23912
15671
Income paidout
1957
1,645222952471
3337066
197
41784
27756
2838
107168
61260
50250
1958
1,8^1
2101, 138
523
3215947
215
511101356
54
2911095
186
74840
64068
1959
1,949
2531,086
610
3526158
233
48013428858
38311
125247
73447
61572
1. Includes miscellaneous and unidentified sources."Less than $500,000.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
24 SURVEY OF CUEEENT BUSINESS October 1900
all nonfixed assets are combined, theratios for domestic firms and foreigninvestments in the same industries arefairly similar.
Financial StructureThe financial structure of the owner-
ship of the foreign enterprises is unlikethat of domestic industry because ofthe importance of intercompany ac-counts and branch accounts with parentcompanies in the United States. Oftotal foreign assets of nearly $42 bil-lion, some $18 billion represented debt(including debt to parent companies)and $24 billion represented equityinvestments, counting branch-head of-fice accounts as the equivalent of equityinterests.
LiabilitiesAbout 55 percent of theliabilities were short-term, althoughthis ratio was considerably lower inCanada and higher in Europe. Amongthe industries, the ratio of current tototal liabilities was relatively high inagriculture, manufacturing, and trade,and low in public utilities and mining.
Long-term debt of $5.4 billion wasconcentrated in Canada, where subsid-iaries in several industries were able toobtain a relatively large proportion oftheir capital from local and U.S. capitalmarkets. In Canada, and a few othercountries with sizable capital markets,there is a substantial demand for mar-ketable debt of these enterprises atinterest rates comparable to those in theUnited States.
EquityOf the $24 billion of equityownership of the foreign enterprises,about one-fourth is represented bybranch accounts, and the remainder bycapital stock and accumulated surplusaccounts. About 60 percent of thecombined total of stock and surplus is inthe latter, indicating the importance ofretained earnings as a source of financ-ing. In addition, reductions in assetvalues resulting from currency depreci-ations, as well as occasional capitaliza-tions of surplus accounts, tend to resultin an understatement of the contribu-tion of retained earnings to the accu-mulated equity position.
Technical NoteThe basic data on sources and uses of funds
contained in this article are derived from thecomplete Office of Business Economics censusfor 1957, to be published in U.S. BusinessInvestments in Foreign Countries, and annualreports prepared by about 200 U.S. companies
Table 5.Assets, Liabilities and Net Worth of Direct Investments by Area and Industry,11957
[Millions of dollars]
Area and industry
All areas, totalAgriculture.Mining and smeltingPetroleumManufacturingPublic utilitiesTradeMiscellaneous
Canada, total .AgricultureM ining and smeltingPetroleumManufacturingPublic utilitiesTrade--Miscellaneous
Latin America, totalAgricultureMining and smeltingPetroleum. . _Manufacturing _ ._Public utilitiesTradeMiscellaneous.
Europe, totalAgriculture _Mining and smeltingPetroleum _ManufacturingPublic utilitiesTradeMiscellaneous
Other areas, totalAgriculture _Mining and smeltingPetroleumManufacturing.Public utilitiesTrade..Miscellaneous
Assets
Cur-rentas-sets
17 870
3071,2854. 9628, 207
5701, 980
5585, 518
60539894
3,151142551181
4,142213455
1, 1491,283
226679138
5,1271
391.3433.029
22528162
3, 08333
2521, 576
742180222
76
In-vest-ments
inaffili-ates
Fixedas-
sets,at
cost
778 32 9.7 S
1638
22?322
469638
307(**)
2265
18461612
157161
143
5312
174
"~"j>113
2113
142
1472113762
1.0003, 498
12,8239. 6433.616
987712
1 1, 330212
1. 2083. 1094. 9711. 216
356258
10,627709
1. 8014, 6731. 2661,842
202134
5,2211
701 , 7952, 729
38366223
5,10178
4203. 246
6785196396
Less:Re-
latedre-
serves
11,522
4331,3074. 6233, 826
818283232
3, 99762
462827
2, 1 7527910983
3, 843330678
1 . 88641042273
1,892f**'i
30694
1, 0048
78
1,79241
1361,216
2381082230
Other
sets
3, 066
145348
1, 366651218165174886
2,?2052631053756
78114075
261147606832
609(**) g
302193
5053
7881
4759948501032
Totalas-sets
42, 470
1,0363.862
14,75014, 9973. 6322. 9451,249
14,044214
1,5253, 4466. 3951,191
851424
11,866748
1,6544. 2542, 3011 709
928273
9, 2392
872, 7725,060
55888374
7,32171
5964.2781,241
679279178
Liabilities
Cur-rent
liabil-ities
10, 237
162524
3. 3324,288
4511,070
4102,340
40199385
1,27487
253102
2,610108168849765267347104
3, 3561
211. 0161.811
g366131
1,93213
1361,081
43789
10373
Long-termdebt
5,437
47483
1,6961,6601,212
139201
2, 84025
191812
1,09053383
10599320
1951231274772031
725(**)
9296353
142529
8782
8746490
1881236
Otherliabil-ities
2,450
28187
1, 16067617014783
5576
87131242344613
6952135
350117935821
673
340277
32
5251
6133838421330
Totalliabil-ities
18, 123
2371,1936, 1876,6241, 8331, 356
6935,737
70477
1,3292,607
653381220
4,298149398
1. 3231,010
837425155
4, 7531
331,6522,441
24423178
3, 33616
2841,883
566319127140
Net worth
Capi-tal
stock
7,737
190518
2, 1163, 275
918521200
2,47731
23471697233712462
2,040139101320800470156
542,258
133
6841, 263
1419271
96319
150396240
965013
Sur-plusandsur-plusre-
serves
10, 455
2711,0872,7544, 763
507787286
4, 974112636888
2, 736177295131
1,68112628360733585
21630
2,053(**)
13386
1, 319-1226111
1, 74533
1548743742464915
Branchac-
counts
6,156
3381. 0643,692
335374281
70856
BUSINESS STATISTICSJ_ HE STATISTICS here are a continuation of the data published in the 1959 edition of BUSINESS STATISTICS, biennial Statistical Supplement
to the SURVEY OF CURRENT BUSINESS. That volume (price $2.25) contains monthly (or quarterly) data for the years 1955 through 1958 andmonthly averages for all years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthlyfigures prior to 1955. Series added or significantly revised since publication of the 1959 BUSINESS STATISTICS are indicated by an asterisk (*) and adagger (f) , respectively; certain revisions for 1958 issued too late for inclusion in the aforementioned volume appear in the monthly SURVEYbeginning with the July 1959 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonalvariation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are providedthrough the courtesy of the compilers, and are subject to their copyrights.Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August Septem-ber OctoberNovem-
berDecem-
ber
1960Janu-
aryFebru-
ary March April May June July AugustSeptem-
ber
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT tSeasonally adjusted quarterly totals at annual rates: f
National income, total -bil. of dol.-Compensation of employees, total _ - _ - do __
Wages and salaries, total - .-do.Private _ _ -- do. _.Militarv - doGovernment civilian - _ _ _ _ _ d o
Supplements to wages and salaries . _ _ doProprietors' income, total cf -- d o _ _ _
Business and professional cf --- do _ _Farm _ - . . _ _ ._ _ do ___
Rental income of persons - _ do. _Corporate profits and inventory valuation adjust-
ment, total bil. of dol_-Corporate profits before tax, total. .__ - do. -
Corporate profits tax liability __ do. _Corporate profits after tax . _ _ - -_do_ _.
Inventory valuation adjustment - --do _Net interest. __ __ _ _ _ . _ _ ..do. _.
Gross national product, total.. ._ - do_ _.Personal consumption expenditures, total. . .do __.
Durable goods . _ _ _ _ _ _ _ _ _ d o - _.Nondurable goods _ _ _ _ _ _ _ _ -_do- .Services - _ . __ _ _ _ _ _. _ do _.
Gross private domestic investment, total doN e w construction _ _ _ _ _ _ _ _ _ _. do. _Producers' durable equipment - - do_Change in business inventories.- _ . -_do. -
Net exports of goods and services doExports - _ _ - - _ - _ _ _ - d o _ _Ini ports do
Government purchases of goods and services, totalbil. ofdoL.
Federal (less Government sales) doNational defense? - -- ... do _
State and local doPersonal income, total.. _ __ _ _ _ _.. _ do __Less: Personal tax and nontax payments do. -Equals: Disposable personal income doPersonal saving do
GNP in constant (1954) dollarsGross national product, total bil. of dol__
Personal consumption expenditures, total. _ doDurable goods doNondurable goods doServices - _ . __ _ _ _ _ _ do
Gross private domestic investment, total doNew construction doProducers' durable equipment doChange in business inventories do.
Net exports of goods and services doGovernment purchases of goods and services, total
bil. of dol_-State and local do. .
399.4279. 5259.7214.2
9.935.719.846.135.011.112.4
44.945.322.322.9 .4
16.5481.4316. 044.0
148.0124.1
67. 541.126.5-.1
24.024.2
98.153. 646.144.5
384.846.3
338.522.5
426.3290.841.2
139.5110.156.735 021.7
.0-1.7
80.537.0
402.8281.6261 5215.6
9 836.120 146.335.111.212 545.544.822.122.7
16.9486.4319.643.5
149 6126.670.839.426 84.7
.423.523.996.452.545.543.9
389 046. 5
342.422.8
429. 1292.841. 1
140.5111.259.433 422.23.8
1.5
78. 542. 336.2
414.4
290 2268 7222 1
9 936 721 546 035 410 612 548.048 823 825 0
8
17 8501 3323 3
44 2150 5128 679 340.827 111.4
1 225.223 997 551 844 945 7
396 249 2
347. 023 7
440. 5294 841 8
141. 1112 066.234 022.49.8
79.641.837.8
419.4295 0273 1225 5
10 037 621 948 136 012 112 545 345 722 323 4
4
18 5505 0329 0
44 5153 5130 9
75 540 729 55 32 0
26 424 4
98 651 744 746 9
404 250 0
354 125 2
442 2298 3
41 9143. 2113 362.833 824.2
4 8
80.341.838.6
297. 2274 9226. 0
10 138 822 348 336. 112 212 5
19 1
in-n - . . tional income and product and personal income have been revised back to 1957; revisions prior to the 2d quarter 1959 (and prior to May19o9 for personal income) appear on pp. 8 ff. of the July 1960 SURVEY. cf Includes inventory valuation adjustment. 9 Government sales are not deducted
.Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
5G65120 60 S-l
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-2 SURVEY OF CURRENT BUSINESS October I'.iGO
Unless otherwise stated, statistics through 1958 anddescriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August Septem-ber OctoberNovem-
berDecem-
ber
1960
Janu-ary
Febru-ary March April May June July August pxr
GENERAL BUSINESS INDICATORSContinued
PERSONAL INCOME, BY SOURCE*Seasonally adjusted, at annual rates :t
Total personal income bil. of dolWage and salary disbursements, total do
Commodity-producing industries, total doM anufacturing only . do
Distributive industries doService industries doGovernment do
Other labor income - doProprietors' income:
Business and professional do Farm do
Rental income of persons doDividends _ _ _ doPersonal interest income doTransfer payments - doLess personal contributions for social insur do
Totol nonagricultural income doNEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals:Ml industries bil. of dol
D i ablp poorts industries doN endurable goods industries do
^M in ing doT n tnt'rvn othp than rail doPublic utilities doCommercial and other do
Seasonally adjusted quarterly totals at annual rates:\ 11 industries bil of dol
Manufacturing doNT d bl nod ' rl t IPS do
Mining doRailroads doPublic utilities doCommercial and other do
FARM INCOME AND MARKETINGS^Cash receipts from farming, including Government
payments total mil of dolFarm marketings and CCC loans, total _ _ . _ do
Crops doLivestock and products, total 9 - do
Dairy products doMeat animals - -- - - doPoultry and eggs do
Indexes of cash receipts from marketings and CCCloans, unadjusted:
411 commodities 1947-49=100-.Crops doLivestock and products do
Indexes of volume of farm marketings, unadjusted:All commodities 1947-49 = 100
Crops - do ._Livestock and products do
INDUSTRIAL PRODUCTION fRevised Federal Reserve Index of Physical Volume
Unadjusted, total index (including utilities)!1957=100.-
By industry:Manufacturing, total do
Durable manufactures doNondurable manufactures do
Mining _ _ doUtilities do
By market grouping:Final products total do
Consumer goods _ doAutomotive and home goods . doApparel and staples do
Equipment, including defense doMaterials do
Durable goods materials doNondurable materials do
383.3258. 6105.883.869.238.045.610. 3
35. 010.7
12.413.623.826.77.8
368. 9
2,792
2,7601,2531, 507
374883235
113117111
128128128
103
10393
11592
10911399
117100
9788
107
384.3
259. 0106. 184.369.138.145. 610.3
34.910.4
12.513.824.027.27.9
370.1
8.32
3.021 441.58
.26
.2854
1.482.74
33.35
12. 255 856 40
1.001.302 155.60
11.05
3, 351
3,3211, 6461, 675
3721,034
253
136154123
152168141
105
10597
11691
110114107117102
10091
109
384.3
258. 6105.683. 568. 838.545.710.4
35.010.1
12.513.824.227.4
7.9
370. 3
4, 048
3,8982, 0991.799
3901,120
273
160196132
187228156
105
10698
11792
112117121116101
9990
109
388. 7
260. 8107.084.569.138.846. 010.5
35. 111.2
12.513.824. 528.2
7 9
373. 5
3, 669
3, 5281 , 9281, 600
375944268
145180117
169204144
104
10497
11396
106109101112100
10294
109
393. 9
265. 0110.487. 669. 439. 146. 110.5
35. 212.3
12.51 3. 624.827.98.0
377.4
8 99
3. 571 741.83
.272255
1 512.87
33.60
12.856 156 70
1. 05.85
2 155. 50
11.20
3, 040
2,9931,5351,458
388793256
123143106
142156132
107
10710710798
106108111108103
108107108
395. 7
268. 2112.689.469. 939.446. 310.6
35. 511.3
12.513.9
27.79 2
380. 2
2,747
2,6961,2461,450
381834208
111116106
131134128
111
11111111197
111115124112104
110110111
395. 7
268. 6111.989.070.339. 846.510. 7
35. 510.4
12.513.925. 527.7
9. 1
381.2
2.093
2.059689
1,370368776200
8564
101
10074
120
111
11211211296
112115126112104
111110111
397.0
269. 3111.688.870.840. 046.910.8
35.410.1
12.513.925. 928 39.2
382. 7
7.89
3.091 551. 54
.222547
1 182.68
35 15
14. 107 156 95
1.001.002 005 75
11.35
2, 169
2.150583
1. 567406906236
8854
115
9853
131
111
11111011395
112114122112106
110108112
401.9
271.7112.188. 671.840. 547.310 8
35.711.7
12.513.92(5.228. 69.2
385. 9
2,211
2, 199675
1 , 524399824268
9063
112
9859
128
110
11010811497
111115120113104
109106112
404.7
273. 6113.389.572.040.747.610.9
36.012.1
12.513.926.528.49.3
388.3
2 316
2,298672
l ,62f>431894265
9463
119
10458
138
109
11010711597
111115120113105
108105111
406. 1
274.0112.989.272.241.147.811.0
36.212.5
12.513.926.828.59.3
389. 3
9 28
3 761 881 88
272955
1 422 99
36 30
14 707 407 30
1 051 102 155 70
11 60
2 509
2,464905
1,559413875246
10184
114
1169(0
135
109
11010611698
112116
r!21115104
107104111
407 3
275.1112.888.772 441.348 511. 1
36.212 0
12 513.927 128.79 3
391 1
2 754
2, 6871 2361,451
399779256
111116106
128132126
M03
103r 98
r 109r 94
107110104112102
10096
r 104
r 408 2
275.1r 111.5^87. 7'72.9
41.649 011.2
r 36. 1
r 12 ^
12 514.027 429.19 4
'391.8
1 9 30
3 601 791 81
27?854
1 623 00
i 36 9
14 67 37 31 i1 i2 6 0
11 9
3 023
2 9911 4131, 578
384911268
123132116
143149138
107
107T 98117
r 98
111r l i f t
r 98121
r 101
r 103r 97110
408 4
274.7111.087.272 741.849 211.2
36. 112.2
12.514.027.529.59.3
392. 0
* 9. 91
4 10
2 04
292556
1 683 04
2 36 9
14 87 3
1 i1.0
6 111 8
f 108p 108F 101p 117"98
p 113r- 118*> 111"120*- 102
f 105f 99
* 111r Revised. *> Preliminary. i Estimates for July-September 1960 based on anticipated capital expenditures of business. 2 Estimates for October-December 1960 based on anticipated
capital expenditures of business. Anticipated expenditures for the year 1960, and comparative data for 1958-59, appear on p. 8 of the September 1960 SURVEY.{See note marked "f" on page S-l. cfRevised beginning 1958; revisions prior to May 1959 will be shown later. 9 Includes data not shown separately.tRevised series. For figures back to January 1955 for total and summary groups (seasonally adjusted), seep. 6 of the January 1960 SURVEY; for other information and earlier figures back
to 1947 (1919 for total industrial production, including utilities), see the December 1959 Federal Reserve Bulletin and the separate Federal Reserve publication, "Industrial Production: 1959Revision" (available from the Board of Governors of the Federal Reserve System).
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1!)GO SURVEY OF CUREENT BUSINESS S-3
Unless otherwise stated, statistics through 1958 anddescriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August Septem-ber OctoberNovem-
berDecem-
ber
1960
Janu-ary
Febru-ary March April May June July Au^t str
GENERAL BUSINESS INDICATORSContinuedINDUSTRIAL PRODUCTION Continued
Revised Fed. Eeserve Index of Physical Volume Con.Seasonally adjusted, total index (including utilities) f
1957=100-.By industry:
Manufacturing total do
Durable manufactures 9 doPrimary metals -- do
Iron and steel -doFabricated metal products do
Structural metal parts do
Machinery _ _ _doNonelectrical machinery doElectrical machinery do
Transportation equipment 9 - doM"otor vehicles and parts doAircraft and other equipment __ do
Instruments and related products doClav glass and stone products doLumber and products _ doFurniture and fixtures do_Miscellaneous manufactures do
Nondurable manufactures doTextile mill products - do _Apparel products doLeather and products-.. -- do__Paper and products do
Printing and publishing doNewspapers _ _ do
Chemicals and products -doIndustrial chemicals ._ do__ _
Petroleum products do
Rubber and plastics products _ d o _ _ .Foods and beverages do
Food manufactures do ___Beverages. do__ .
Tobacco products do
Mining - doCoal doCrude oil and natural gas do
Crude oil - do_ _Metal mining doStone and earth minerals do
Utilities doElectric doGas do
By market grouping:Final products total _ do
Consumer goods _ doAutomotive and home goods do
Automotive products __ __ doAutos doAuto parts and allied products. _ -do
Home goods 9 doAppliances, TV, and radios _ _ doFurniture and rugs do
Apparel and staples doApparel, incl. knit goods and shoes doConsumer staples 9 . _ _ _ do
Processed foods do
Beverages and tobacco do __.Drugs, soap, and toiletries do__ _Newspapers, magazines, and books doConsumer fuel and lighting. . _do
Equipment, including defense 9 do.._Business equipment do
Industrial equipment doCommercial equipment _ _ do__Freight and passenger equipment doFarm equipment .do
Materials doDurable goods materials 9 do
Consumer durable doEquipment _ _ _ _ d oConstruction _. do
Nondurable materials 9 _ doBusiness supplies do
Containers doGeneral business supplies __ do
Business fuel and power 9 _.doMineral fuels doNonresidential utilities do
104
104
984731
106100
107103113
10210696
116115114116111
113117121107113
107107117123107
120108107114114
9172989748
111
116117111
109112114
10597
118
120121121
112117110107
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9890
103102107
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113
103
104
974530
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r 103
97120
110
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r Revised. v Preliminary. fSee corresponding note on p. S-2. 9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-4 SUKVEY OF CUEEENT BUSINESS October I960
Unless otherwise stated, statistics through 1958 anddescriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August Septem-ber OctoberNovem-
berDecem-
ber
1960
Janu-ary
Febru-ary March April May June July August
Septem-ber
GENERAL BUSINESS INDICATORSContinued
BUSINESS SALES AND INVENTORIES!
Mfg and trade sales (seas, adj.), total _.bil. of dol__Manufacturing, total __do
Durable coods industries doNondurable goods industries do
Wholesale trade, total doDurable goods establishments doNondurable goods establishments do
Retail trade, total -doDurable goods stores doNondurable goods stores do
Manufacturing and trade inventories, book value, endof month (seas, adj.), total... bil. cfdoL.
Manufacturing total _ . doDurable goods industries _ doNondurable good industries do. __
Wholesale trade total doDurable goods establishments _ doNondurable goods establishments do. _
Hetail trade total doDurable goods stores doNondurable goods stores do
MANUFACTURERS' SALES, INVENTORIES,AND ORDERS
Sales, value (unadjusted), total mil. ofdol..Durable goods industries total 9 do
Primarv metal __doIron and steel do
Fabricated metal do. _Machinery (including electrical) do
Electrical --do
Transportation equipment _ _ __doMotor vehicles and parts do
Lumber and furniture - doStone clay and glass do
Nondurable goods industries, total 9 do_ __Food and beverage _ doTobacco doTextile - doPaper doChemical - doPetroleum and coal doRubber - do. _
Sales value (seas adj ) total doDurable goods industries, total 9 do
Primary metal _ __doIron and steel do
Fabricated metal .doMachinery (including electrical) do
Electrical doTransportation equipment do
Motor vehicles and parts _ doLumber and furniture doStone clay, and "'lass do
Nondurable goods industries, total 9 do_._Food and beverage doTobacco _ _ -doText'le doPaper doChemical . _ doPetroleum and coal doRubber do
Inventories, end of month:
Durable goods industries, total 9 doPrimary metal do
Iron and steel do __Fabricated metal __.doMachinery (including electrical) do
Electrical doTransportation equipment do
M^otor vehicles and parts doLumber and furniture doStone, clay, and glass do
By stages of fabrication:Purchased materials bil. of dol__Goods in process doFinished goods do
Food and beverage __doTobacco doTextile .doPaper doChemical .doPetroleum and coal _ _ _ d oRubber do
By stages of fabrication:Purchased materials bil. of dol_.Goods in process doFinished goods - -.do
59.6
29.314 015.312 24.67 fi
18.16.1
12.0
89.5
52.130.122 0
12.66.65.9
24.811.613.2
28, 590
13 0491, H')5
4171,8104, 4031,823
2, 6481, 3611, 005
81215, 5414,579
4131, 2961 0412,1433 056
48029 26814,0081,227
4391, 7034 6511,8833, 5772,143
991751
15, 2604 511
3951, 2501 Oil2,1573,071
492
51 5249Q 6793, 9792, 2543, 2959,7223 6527,0132 8471,8591,229
8.911 69.2
4,8241,7732,4811 4583,8283, 3991,057
8.63 1
10.1
60.1
29.814 115.712.54 67.9
17.85.8
12.0
89.2
51.929.822.1
12.56.56.0
24 811.513 3
30, 032
13,6871,218
4361,8984, 7262,030
2,7681,4041,073
77516, 3454,855
4161,3101,0602,3793, 235
52829, 81814,1131,212
4321,7594, 6631,9423,6412,237
977718
15,7054,618
4081,2221,0292,2733,301
544
51 55129, 6013,9712, 2643,0559,6503 6147,2903 1071,8491,226
8.511 99.2
4,9441,8622,4451 4423, 8533,3981, 075
8.73 1
10.2
59.7
29.414 015.312.04.47.5
18.36.4
12.0
88.8
51.529.222.3
12.56.56,1
24.711.613.1
30, 849
14,5281.269
4671,8004, 8222,079
3,5702,2071,034
78216, 3214,950
4091,3461,0862,3393,037
56929, 38414, 0471,186
4381,6314, 6661,9113,7782,415
952704
15,3374, 609
3991,1971,0062,2193,037
555
51 43429, 2243,9812,2882,8549,7003 6247,0622 9071,8191,257
8.211 99.1
99 91 ft
5,0211,9262,4311 4443,9443,4431,087
8.83.1
10.3
59.1
29.013 515.512.3
4 67.7
17.85 7
12.2
88.4
51.629.322.3
12 66.56 1
24 211.013 2
28, 530
13, 3051, 9071, 1471,5274,5211, 973
2,7011,373
897652
15, 2254, 585
4411, 256
9742,1203 103
43928 97213,4791,9561,1821,6234, 7171, 9562,5141, 167
922662
15.4934,643
4431,209
9942,2363, 183
482
51 78229, 4314,1162,4112,8609,7033 6267,1142 9971,8341,296
8.311 89.3
99 O K I
5,0981,9232,4511 4664,0003, 3981,114
9.03.0
10.4
60.930.815 015 812.74 77 9
17.55 3
12.2
89.452 430. 122 312 66.66 1
24 311 013 3
30, 63015 2402 7001 8901,6204,8702 0803,4802 010
840650
15 3904, 590
4201 220
9902 1803 350
48030 79015 0102 8001 9801 7604 7201 9502,9701 590
910730
15 7804,700
4101,2601,0602, 3803,100
500
52, 88030, 2604,3102,9609,8803,6907,3803,2001,8601,340
8.512.19.6
22 6105,0102,0402,5101,5104,0803,3601,160
9.33.0
10.4
61.631.115 415 712.44 77.7]
18.15 9
12.2
90.553.330.822 512 76.66 1
24 511.313 2
29, 74014 7202 6701 8501 5404,4001 8503 6702 450
810620
15 0104 440
3501 200
9902 2003 200
52031 11015 4502 7301 9001 7004 8002 0203, 4702 130
870750
15 6604,780
4001,2601,0102,2603,080
530
53, 66030, 860
4, 3003,070
10, 1403,7607, 5203,2701,8901,380
8.512.410.0
22 8104,9402,1002,6001,5304,0903,3401,170
9.33.0
10.5
62.231.615 715 912.54 77 8
18 16 0
12 1
91.453 931 322 6I9 76 76 1
24 811 613 2
30 29015 1102 5401 6701 5704, 6901 8903 7602 440
8^0640
15 1804 430
3701 2301 0102 2203 070
59931 58015 6702 figo1 gQQ1 7204 8401 9903 5702 20
920770
15 9004 720' 430
1 260l' 0702 3803 130' 570
54, 20031, 4504, 3503,230
10, 3603,8707. 6203,3501,8801,420
8.612.510.4
22 7504,8502,0602,6701, 5604,1403.2701,180
9.23.1
10.4
61.330.815 215 712.24 57 8
18 25 9
12 3
92.354 331.822 612 86.86 1
25 111 613 5
32, 47016 0802, 6901 7501, 7005, 0702,050
3, 8602 480
910690
16 3904 820
4001 2601 1002 4303 290
52030 84015 1702 5401 6601 6904 75Q1 9903,4602 110
880700
15 6704 710
49Q1 2001 0509 3QQ3 160
51054, 70032, 060
4, 4002 5403,370
10, 5703,9407,7203, 3701,8901,480
8.612.710.8
22 6404, 7102, 0202, 7301,5804, 1603, 2201,210
9.23.1
10.4
62.631.015 016 012.64 77 9
18 96 3
12 6
92.654 731 92? 7
12 96 86 1
25 0J l 613 3
30 82015 1502 3101 4701 6804,8301 8803 5702 260
00740
15 6704 540
3701 1801 0402 4503 130
54031 03015 0002 3101 4701 6904 8302 0103 3602 040
930750
16 0204 720
3901 2601 0302 3803 260
53054, 77032, 140
4,4502 5803,420
10, 6604,0007,5903,2701,8801,480
8.512.710.9
22 6404,6701,9902,7601, 5904,1403,2201,220
9.13.1
10.4
61.931.015 115 912.4
4 57 9
18.56 1
12 4
93.255 032. 122 913 16.96 2
25 211 813 4
30, 84015 2302, 2501 4001.7304,7901,8803 6402 310
920790
15 6004 650
4201 1901 0509 470
3 00550
30 99015 0602 2401 400l' 7504 7801*9403 4902 210
940750
15 9204 630
4001 9901 0402 3503 180
55054, 97032, 2504,5402 6703, 460
10, 7604,0907,4203,1701,8801,480
8.512.711.1
22 7204, 6901,9402,7801, ^ 004,0803,2701, 210
9.03.2
10.6
61.830.814 915 912.54 58 0
18 56 0
12 5
'93. 555 132 222 9
13 06 96 1
2." 311 813 5
31. 56015 6102 1901 3401 8105, 0302 0403 6602 260
950g9Q
15 9504 800
4301 2501 0702 3903 150
56030 78014 8802 0101 1801 7604 7401 9503 6002 290
910760
15 8904 630
4001 2701 0502 3503 180
590' 54, 880r 32, 180
4,5802 7103,460
10, 7204,1207,2803,100
r 1,9201,460
8.612.611.0
22 7004.6601,8702,7501,6004,1103,2801,200
8.93.2
10.7
r 60. 9-30.4r 14 7r 15 7-12.3
4 4T 7 9T
18 15 7
r 12 4
r93. 454 932 022 913 0
7 06 1
25 411 913 5
r 27 890
r 13 050r I 780
1 100r I f,3Qr 4, 250
r I 700
r 2 910r i 730
r 770730
r 14 8404 570
390r I 05()
r 980r 9 100r 3 HO
480r 30 440T 14 730
r 2 nor i 300r i 730r 4 770r i 940r 3 410r 2 140
r 870750
r 15 7204 630
380r 1 230T i 080r 2 300
3 190480
r 54, 400-31,750
r 4, 6402 7603,390
- 10, 560'4,060- 7, 050
3,010-1,930
1,440
8.6-12.3
10.8r 22 660
4,7201,830
- 2, 7201,6104,1003,3201,180
8.93.2
10.6
60.6
30 114 415 712.2
4 47 8
18 25 8
19 4
93 254 939 o22 9
13 06 96 1
25 21 1 713 5
30 790
14 0501 9601 1701 8904,5801 950
2 6601 500
980830
16 6704 900
4401 2701 1 502 3803 230
51030 14014 401 9701 1801 7104 6401 9203 4102 200
880790
15 7204 670
4001 1801 0902 3103 140
48054, 42031, 7004,7202 89Q3,310
10, 4404,0307,1903,0901,9101,400
8.612.610.5
22, 7304,9201,8502, 6801,6104, 1003,3501,180
8.83.1
10.8
-_
r Revised. i Beginning January 1960, data for Alaska and Hawaii are included. The term "business"
on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted data for manufacturing are9 Includes data not shown separately.
here includes only manufacturing and trade. Business inventories as shownshown below; those for retail and wholesale trade on pp. S-9, S-10, and S-ll.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October I960 SURVEY OF CURRENT BUSINESS S-5
Unless otherwise stated, statistics through 1958 anddescriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August ^e- October Novem-berDecem-
ber
1960
Janu-ary
Febru-ary March April May June July August
Septem-ber
GENERAL BUSINESS INDICATORSContinuedMANUFACTURERS' SALES, INVENTORIES,
AND ORDERS ContinuedInventories, end of month Continued
Book value (^eas a d ] ) total _ mil. ofdoLDurable coods industries, total 9 - - do_ _
Prim nry metal doIron and steel do
Fabricated metal doMachinery (including electrical) do
Electrical doTransportation eQuipment do__
Motor vehicles and parts - - doI umber and furniture doStone clav and glass -- do
By stages of fabrication:Purchased materials - bil. of dol__Ocods in process doFinished goods - - d o _ . _
Nondurable goods industries, total 9. .mil. of dol_.Food and beverage - -- doTobacco doTextile - _- do _ _Chemical - -- do ._Petroleum and coal - _ . do ._Rubber - _ do - _
By stages of fabrication:Purchased materials - - - bil. ofdoLOood^ in process doFinished goods - do -
New order^ net (unadjusted) total _ _.mil. ofdoLDurable goods industries total 9 do
Primarv metal - doIron and steel _ _ - do _.
Fabricated metal - doMachinery (including electrical) do _
Electrical - doTransportation equipment (including motor ve-
hicles) mil of dolNondurable goods industries, total _ do_-
Industries with unfilled orders ._ doIndustries without unfilled orders f - - do
New orders, net (seas, adjusted), total do - _Durable goods industries, total 9 do
Primary metal doIron and steel - do __
Fabricated metal doMachinery (including electrical) _ do
Electrical - _ _ do - _ _Transportation equipment (including motor ve-
hicles) mil of dolNondurable uoods industries, total _ _ do
Industries with unfilled orders _ _ _ doIndustries without unfilled orders 1 do
Unfilled orders, end of month (unadj.), total doDurable goods industries, total 9 - - - -- do
Primary metal doIron and steel _ _ _ do _
Fabricated metal doMachinery (including electrical) _ _ _ do
Electrical- ._ _ _ - doTransportation equipment (including motor ve-
hicles) _ _ mil. of dolNondurable goods industries, total do
BUSINESS POPULATIONFirms in operation, end of quarter (seasonally adjusted)
thousands-New business incorporations (49 States) eft- -number..INDUSTRIAL AND COMMERCIAL FAILUREScfFailures, total _ _ number
Commercial service _ _ doConstruction _ _ doManufacturing and mining _ doRetail trade doWholesale trade . do
Liabilities (current), total thous. of doL-Commercial service-. doConstruction .,_ doManufacturing and mining __.doRetail trade doWholesale trade do
Failure annual rate (seas. adj.)-No. per 10,000 concerns.
r>2, no30, 1-153,9802 2543,3280, R263 680
7, 3333. 1531 8411,261
8.711.99. 5
21,9714, 8331. 8662, 4951 4733. 9073, 3321.113
9.03.19.9
28, 558
13, 1201. 633
9021, 7964, 3931, 794
2,34215,4383,399
12,03929,01613, 9741 689
9201,7104, 6231,927
3, 185
15, 0423, 237
11, 805
50, 573
47, 2545,3824,0253 229
17, 82810,31215. 743
3,319
14, 406
1,135
122181187542103
54, 501
3,16012, 06118, 55915, 3625 359
53.3
51,89229,8173,9232 1983.1179, 7413,6307,3053, 1651.8601,277
8.312.09.5
22, 075
4,8321,9302, 5161 4713,9703, 2671,114
8.93.1
10.1
30, 527
14, 2851, 807
9901, 8764, 9412,124
2.712
16, 2423, 498
12, 744
30, 552
14, 7471,9571, 1121,7055,0672,173
3,155
15, 8053,533
12, 272
51, 068
47, 8525,9714,5793,207
18, 04310, 406
15, 687
3,216
4,65514, 664
1,144
93191192563105
54, 736
3 07712 59515, 97416, 0986 992
58.4
51,51529, 2493 8702 1582,9129, 8073 655
6,8872, 7451,8551,320
8.011.89.4
22, 266
4,8101 , 9552,5361 4814,0373, 2951,115
9.03.1
10.2
31,25814,9801,818
9971,8634,7942,0023,626
16,2783,622
12, 656
30, 449
15,0991,8701,0391,7914,9822,0753,661
15, 3503,385
11,96551, 477
48, 3046,5205,1093,270
18,01510,32915, 743
3,173
14, 526
1,125
102164221532106
50, 375
3 8917,131
20, 98013 0505 323
50.5
51, 625
29, 3473 9862 2532,9189, 7313,6396, 9282,8111, 8611,336
8.111.89.4
22, 278
4,8141,9422,5421 4964,0413,2831,120
8.93. 1
10.3
28, 559
13, 2992,1491,3611, 5964,2821,740
2,611
15,2603, 446
11,81429, 222
13, 7212 1411,3381,8184, 6731,927
2,30315, 5013,377
12, 124
51, 506
48, 2986, 7625,3233,339
17, 77610, 096
15,6533,208
13,015
1,130
105186195520124
53, 214
3 02712,13617,26615 2445 541
55.4
52, 430
30, 0804, 1202 3903, 0509, 9203,7307,1803, 0401,8701,360
8.312.19.7
22, 340
4,7901,9802. 5301 5104,0303,3201,140
8.93.0
10.4
30,610l,p, 0702, 7001,8101,6104, 8801.960
3, 550
15,5403. 560
11,98030, 740
14,7702t 6801,8201.6704,8701,930
2,80015,9703, 750
12, 220
51, 490
48, 1306, 7bO5,2403,330
17, 7909,980
15,7303,360
4,67016, 456
1,080
89163231478119
59, 556
3 07210, 45323, 82213, 4438 766
49.6
53, 310
30, 7604, 2002 4603,130
10,1803, 820
7. 3803, 1001,9101, 370
8.612.39.9
22, 550
4,8101,9802, 5801 5304.0303,4101,140
9.03.0
10.5
29, 100
14,0602,2901.4501, 5204,4201,760
3,32015,0403,320
11,72029, 830
14, 1902,2301, 4001, 6104,6301,900
3,150
15, 6403,430
12, 210
50, 850
47, 4606,3904,8403,310
17,8109,900
15, 380
3,390
18, 189
1,181
9319321058798
53, 671
3 12911 99316, 32415 9516 274
51.0
53, 900
31,2604 3202 5403,230
10, 3203 900
7 5303, 1901 8701,380
8.712 510.1
22, 640
4,8201 9502, 6501 5404, 0503.4001, 140
9.13 0
10.5
29, 650
14 5602, 3201,4201,5404,8101,890
3,34015, 0903, 300
11, 790
30, 590
14, 8002 2001,3001 6104,8401,920
3 500
15, 7903,390
12 410
50, 210
46 9106 1804 5803 270
17, 9209,900
14, 960
3,300
14, 669
1 214
103195196609111
60, 9452 501
10 77021,52716 6879 460
50,7
54, 340
31,7704, 4502 6103, 330
10, 4803,9407, 6403, 2601 , 8601, 420
8.812.710.4
22, 570
4,8201, 9502, 6701 5404, 0603, 3301, 160
9.13.0
10.5
31, 750
15,4501,780
9601. 6305, 1302,100
4,05016, 3003, 530
12, 770
30, 290
14, 6401 720
9301,6404, 7401,950
3,68015, 6603, 400
12, 260
49, 490
46, 2805,2703, 7903,200
17,9809,950
15, 160
3,210
4,69017, 437
1 335
120241224607143
70, 193
7 80919 42719, 17014 1169 671
51.1
54, 660
31,9204 6302 7703, 320
10. 5303 960
7 5803, 2601 8501,420
8.812.610.5
22, 730
4, 8501 9502,7201 5504,0803, 3501, 190
9.13 1
10.5
29, 700
14 1001 680
9201.6804, 8201 840
3 210
15,6103,370
12 240
30, 350
14 4701 810
9901 7104 7601,880
3 490
15 8803 330
12 550
48, 380
45 2304 6403 2403 200
17 9709 900
14 800
3,150
15, 446
1 370
121220215674140
69, 192
7 06513 66118, 48318 56311 420
54.9
54, 950
32, 0704 7009 84()3, 350
10, 6004 000
7 5203. 2601 8501,430
8 812 710 6
22, 880
5 0001 9002 7101 5804 0803, 3401 180
9 13 1
10 6
30 210
14 5901 9901 1901 7204 7301 840
3 390
15 6203 460
19 160
30, 470
14 6801 9601 1501 7004 7501 880
3 52015 7903 420
12 370
47 750
44 5904 3803 0403 180
17 9109' 860
14 550
3 170
15 530
1 273
131214229564135
73 307
6 09510 87731, 96317 5886 784
54.1
r 55, 100
r 32, 230
4 8002 9503,340
10, 6404 040
7, 4603,280
r 1 8901,440
8.712 810.7
22, 870
4,9901 9502,7001 5904,1103, 3001,200
9.13 1
10.6
31,48015 5201,8401,0701,7105, 2402,3703,800
15, 9603,520
12, 440
30, 110
14, 3401 780
9901 6804 6902,0303 460
15 7703,430
12 340
47, 680
44 5004 0302 7703 080
18 12010, 190
14, 690
3,180
4,710
16, 676
1 334
103213228680110
126, 450
22 59718 61341,11128 49715 632
57.2
r 54, 900
r 32 050
4 7.502 870
r 3, 330
r 10, 580r 4 040
r 7 340
r 3, 280
r 1 9001,440r 8.6
M2 610 8
22, 850
4 9401 940
r 2 6901 6104 1403, 2901 230
9 1r 3 9
10 6r 27 910
r 13 170r 1 670
r 1.000
r 1 640
r 4 390
r 1 860
r2 820r 14 730r3, 010
r 1 1 720f 29, 190r 13 840
1 890r 1 1 70
T i 590T 4 520
r 1 890
r 3 200
r i 5 350r 3 170
r 12 180
T 47, 690
r 44 620T 3 920r 2 670r 3 100
r is 260T 10 350
r 14 600r 3, 070
14 676
1 146
102192173573106
61, 732
3 99311 07321, 08020 470
5 116
54.8
54 930
32 0504 7202 8903, 340
10, 5504 000
7 3903 2801 8901 430
8 519 710 9
22, 880
4 9401 9402 6901 6304 1803 2801 240
9 03 1
10 7
30 350
13 9601 7901 0101 9204 5301 980
2 800
16 3803 380
13 000
29, 830
14 3001 8301 0401 7704 7109 140
3 27015 5203 290
12 240
47 320
44 5403 7502 5003 140
18 21010 380
14 740
2 780
14 993
1 315
128217228621121
97 5945 940
27 87433, 09722 5568 127
59.6
r Revised. 9 Includes data not shown separately. Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable goods industries arezero. IFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders. Revrsed beginning writh data for 2dquarter 1956; revisions prior to 1st quarter 1959 appear on p. 13 of the May 1960 SURVEY. d*Data are from Dun & Bradstreet, Inc.
JRevisions for January-September 1958 to include data for Hawaii appear in the January 1960 SURVEY; comparable data for 1955-57 are available upon request.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-6 SURVEY OF CURRENT BUSINESS October 1060
Unless otherwise stated, statistics through 1958 anddescriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August Septem-ber October j No^n- Decem-ber
1960
Janu-ary
Febru-ary March April May June July August
Septem-ber
COMMODITY PRICESPRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products^ 1910-14 = 100 _Crops - - _ -do
Commercial vegetables doCotton do - -Feed grains and hay do .. -Food grains do _
Fruit - - _ do __Oil-bearing crops - doPotatoes (incl dry edible beans) doTobacco do
Livestock and products - doDairv products doMeat animals - doPoultry and eggs doWool do. _
Prices paid:411 commodities and services do
Family living items doProduction items - do
All commodities and services, interest, taxes, andwage rates (parity index) 1910-14=100
Parity ratio - doCONSUMER PRICES
(U.S. Department of Labor indexes)Ml items 1947-49=100.
Special group indexes:*All items less food doMl items less shelter do _.\11 commodities - do
XTondurables doDurables - ~- do _ _
Services do
\pparel - - doFood 9 do
Dairy products __doFruits and vegetables doMeats poultry and fish - _-do - _
T lousing 9 doGas and electricity doFlousefurnishings doKent do -_
Medical care _ do _ _Personal care do-
Reading and recreation _ _ _ _ _ do _ _Transportation do
Private -do _Public do
Other goods and services , do _
WHOLESALE PRICESd"(U.S. Department of Labor indexes}
A l l commodities _ _ - 1947-49=100.By stage of processing:
Crude materials for further processing doIntermediate materials supplies etc doFinished goods O do
By durability of product:*Nondurable soods _ _ _ _ doDurable goods do
Farm products 9 doFruits and vegetables, fresh and dried _ _ do _Grains doLivestock and live poultry - - _ _ _ _ _ do ~-
Foods, processed 9 _ do --Cereal and bakery products doDairy products and ice cream doFruits and vegetables, canned and frozen ...do-Meats, poultry, arid fish _ _ . _ . d o ...
Commodities other than farm prod, and foods. _do
Chemicals and allied products 9 doChemicals, industrial doDrugs and Pharmaceuticals doFats and oils, inedible doFertilizer materials _ _ _ _ _ do_ -Prepared paint do
Fuel, power, and lighting materials 9 d o . _ _Coal ' doElectric power January 1958=100Gas fuels doPetroleum arid products 1947-49=100
Furniture, other household durables 9 ------doAppliances, household doFurniture, household _ __ _._ _ do. _Kadio receivers and phonographs doTelevision receivers _ _ do.
239220203281159201210214162511255252314139249
27528826629780
124. 8
128.2122.41 16. 6118.3112.8146.3
108.0118.3114.1125. 6109.9
129.3120.1103.6139.8151. 4131.7
119.1146.7135. 5194.9131.1
119. 1
95. 0127. 0120.2
104. 4146. 2
87.192.877 783.1
105. 8119.5114.7107. 994. 8
128.4
109 7123. 793. 653. 8
104. 8128. 3
112.2122. 0100. 6109. 2116.2
123.5104. 4124. 289.870.1
240
220220280156198
228204146511
257267308143244
274288
'264
'296
81
1 25. 2
128.7122.9117.0118.8112.8146. 9
109.0118.71 1 5. 5124.1110. 4
129.7121.6104.0140. 0152.2132.1
119. 6146. 4135. 3194. 9131.5
119. 7
95.9126. 9121.4
105. 0146. 4
88.9103.176.282.1
107. 8J19. 5116.2106.999.7
128.4
109 9123.893. 755. 0
105. 2128. 3
1 11. 9123.0100. 8112.8115.1
123. 4104.3124. 187.7
i 70.1
235
218230274149203
213208147509
250277292138235
275290264
296
79
125.5
129.2123.2117.3118. 8113. 6147. 3
109.4118.4116.1124.5109. 0
130.1121.7104.1140.4152.5132.5
119.7148.5137.4195.9131. 6
119. 1
94.4127. 1120. 5
104. 2146.4
86. 5102. 275. 778. 5
106.4120. 4116.7107. 495. I
128.4
110 0123.993. 854. 5
106.3128.3
111.41 23. 6100.7111. 1114.5
123.3103. 9124.487. 769.5
231
217242260150206
197216168499
243280276139230
275291264
297
78
125.6
129.5123. 1117.2118.6114.1147. 6
109.4117.9116.0123.4107.9
130.4121.7104. 4140. 5153. 0132.7
120.0149.0137.9196.0131.6
118.9
93.6127.3120.0
103. 7146. 7
85. 4103. 276. 575.3
104. 9120.4117.7106.490. 8
128.5
110 0123.993. 8
106.6128.3
111.2124.0100. 7113 8113.9
123.3104. 1124.387.769.2
230
218262254149206
198215174494
240273268148234
275291264
297
77
125.5
129. 5123.1117.11 18. 5113. 8147.8
109.2117.8116. 7125. 5106. 6
130.4122.7104.2140.8153.2132.9
120.4148.7137. 5197.2131.7
118.9
93. 4127 3120. 1
103.8146.6
85 9107.976.176.0
104.7120.4118 1104.690. 5
128. 6
110 0124.093 750. 8
107. 0128 3
111.7124 1101.2115 5114 3
123. 2103. 7124.287.869. 2
232
220278248151206
203216188484
242266279144239
275290265
299
78
125. 4
129.4122. 9116.7118.1113.3148.2
107.9117.6116.5125. 7106. 4
130.7123.2104. 0140.9153. 5132.7
120.3147. 6136. 3197. 2131. 8
119. 3
94.6127 5120 6
104. 3146 8
86 5104 977 978.5
105 P120.7118 8104. 592 4
128. 8
109.9124. 193. 849. 2
108.8128. H
111.9124. 110L. 3116.6114. 4
123.4103. 3124.787. 769. 0
233
218256237153208
211216189494
245261287142240
276289266
299
78
125. 6
129.7123. 0116.7118.0113.3148.9
108.4117.4116.5125.9106.2
131.2124.0104.3141.0154.7132.6
120.6147. 5136. 0199.3131.8
119.3
94.8127 4120 5
104. 3146. 8
87 0100.576. 780.8
105. 7120.6118 4105.093. 1
128.7
110 0124.294. 049.4
108 8128.3
112.0124 1101.8114 5114.6
123.5103. 3124. 987.869.1
241
222249238153210
228213223494
257256309153243
276289267
300
80
125.7
129.7123.1116.7118.3112.5149.2
108.8117.7116.4125.0107. 2
131.3124.1104.7141.2155.0132.7
120.9146. 5134.9199.4131.7
120.0
96.4127 5121.4
105.51 46. 5
90 4104. 478.286. 2
107.3120.8117 7105. 897.8
128.6
110 1124. 294.250. 6
108.8128.3
112.3124 0101.8115 6115.0
123.7103.2124.987. 8f>9. 1
242
225255244158209
211216257494
257244310163250
278291268
302
80
126. 2
129.8123.7117.4119.4112. 1149.4
108.9119.5115. 3129.9109.3
131.4124.4104.7141.4155. 5132.9
121.1146. 1134.4199.4131. 9
120. 0
96.3127. 6121.4
105. 6146. 5
91. 1111.579.485.7
106. 8120. 9115. 6105. 896. 7
128.7
IK) 2124.594. 551.7
108. 8128.3
1 12. 2119.0101.8115 6115.4
123. 5103. 1124. 987.869.0
241
228283248158209
216218245494
252237310153253
277291267
301
80
126. 3
129.7123.8117.3119.4111.9149.6
108. 9119.7115.0132.9109.7
131.2124.7104.3141.4155.9133.2
121.4145. 6133. 9199.4131.9
119.7
96.0127. 1121. 2
105. 2146. 1
90.4116.977.885.8
107.3121.2114.9106. 398.5
128. 2
110 21 124. 6
94 850. 2
108.8128 3
110.8118 7101 7111 6113 6
123.2102. 1125 087 869. 0
236
221223251158199
239216203494
248234305148248
275290265
299
79
126.5
129.7124.0117.6119.8111.5149.7
108.9120.3115.0136.1110.3
131.3124.7104.3141.6156. 1133.2
121. 1145. 8134. 1199.7132.0
119.5
95. 3127.0121. 1
105. 2145. 8
89.0109. 7
77. 585. 1
107. 6121. 2110.0106. 99S. 1
128.2
110 2124.695. 147.9
108 81 28. 3
112.3119 5101 8112 2l l ( i 0123. 0101.7124.987 169.0
238
226247265156194
235213239493
249244302148240
275290263
298
80
126.6
129.9124. 2117.7120.0111.1150.0
109.1120 6115.8134 4110.8
131 3124 8104 1141 8156.4133 4
121.6145 9134 2200 3132 2
119. 7
94.8127 0121 8
105.6145 6
88 9112.975 584.1
108 9122. 5117 3107. 599. 5
128.2
110 4124 795 147 8
110. 6128 4
113. 8120 3102 0114 4117 9
123.1101. 7125 087 1
1 69. 0
234
218191273152196
239211198479
247254290152230
274290262
298
79
1 126. 6
130 1124 1117.6119 9111.0150 3
109 3120 1116.6127 3111.3
131 5124 9103 5141 9156.7133.8
121.9146 2134.4200. 7132. 4
119.2
92.7126 8121. 5
104.9145 5
T 86 698.774 380. 1
October 1!)(>0 SURVEY OF CURRENT BUSINESS S-7Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition ofBUSINESS STATISTICS
1959
August Septem-ber OctoberNovem-
berDecem-
ber
1960
Janu-ary
Febru-ary March April May June July August
Septem-ber
COMMODITY PRICESContinued
WHOLESALE PRICES^ Continued
U. S. Department of Labor indexes Con.Commodities other than farm, etc. Con.
Hides, skins, and leather products 9 .1947-49=100..Footwear doHide" and skins do .Leather __do
Lumber and wood products doLumber _ do __
Machinery and motive products 9 doAgricultural machinery and equip doConstruction machinery and equip doElectrical machinery and equipment doMotor vehicles do _
Metals and metal products 9 .. doHeating equipment doIron and steel . doNonferrous metals do
Nonmetallic minerals, structural 9 doClay products _ _ do_ __Concrete products doGypsum products do
Pulp paper and allied products doPaper _ do .
Rubber and products doTires and tubes . . do
Textile products and apparel 9 doApparel doCotton products doSilk products doManmadc fiber textile products doWool products do
Tobacco prod and bottled beverages 9 .. ..doBeverages alcoholic doCigarettes do _
Miscellaneous doToys, sporting goods do
PURCHASING POWER OF THE DOLLAR
As measured by Wholesale prices 1947-49=100...Consumer prices do
119.7132.3106.9117.3128.5130.3
153.8143.4172.0155.5143.2
152. 8121.6171.9133.9
137.4160. 5129.7133. 1
132.3143.7141.0134. 3
95.7100.492.1
113.782.3
104.3
131.9121.0134.892.0
117.7
84.080. 1
119.1132.3102.4117.1127 2129.3
153. 9143 5172.4155.8143.2
153.8121 4172.4136 1
137. 5160. 5130.2133.1
132 4143.8142 0134.3
95 9100. 692.6
113. 282 1
104.7
131.8120 9134.888 6
117.7
83.579 9
116.2133. 587 5
112.2126 2127.9
153.7143 4172.5155.9141.9
154. 5121 5173.1137 2
137.5160. 4130 3133.1
132 5144.3142 3133.3
95 9100 693.0
114.281 0
104. 1
131.7120 7134.891 8
117.7
84.079 7
111.7133.867.2
103.8124.3125.8
153. 6143 9172.9155.9141.6
155. 8121 5173.6141 1
137.7160.6130.3133.1
132 3144.3144 9133.3
96 3100.994.0
117 481 4
103 7
131.7120 7134.893 7
117.7
84.179 6
112.3134.173 8
103.5124 8125.9
153.7144 0172.9155.4141 6
155.2121 6172. 2140 7
137.8160 7130 4133.1
13? 4144 3142 5133 3
96 7100 995 0
121 781 3
104 2
131 7120 7134 894 2
118.0
84 179 7
112.7134.273.7
105.5125.1126.1
153. 8144.3173.6155.8141.6
155.5120.9172.4142.7
138.4161.3130.5133.1
133.7144. 5143.5133.3
96 6100.895.9
122.079 4
104.0
131.7120 5134.895 3
117.7
83 879 7
112.0134.269 8
104.8124 9126.1
153.9145 3173.91 55. 7141.6
155.3120 3171.6142 6
138.2161.5131 1133.1
133 2144 5145 1138 1
96 5100 695 8
119 579 8
103 2
131 7120 6134 893 4
117.8
83 879 6
111.8134.272 0
102.8124 5125.9
153.9145 3174.3155.6141.6
154.5120 1170.5140 8
138.2161. 5131 0133. 2
133 1144 8145 2138 1
96 3100 795 6
116 679 4
102 8
131 7120 6134 894 0
117.8
83 379 6
112.1133.573.5
104.7124.3125. 7
154.0145. 6174.7155.6141.6
154.5120 1170. 5140 5
138.3161. 5131 3133. 2
133 1145. 1145 1138 1
96 3100 795 0
118 079 4
102 7
131 7120 6134 895 4
118.3
83 379 2
111.2132 572 9
103 5123 7124 9
153 5145 7175.3153.9141 6
154 2120 2170 4140 0
137.9161 7131 5133 2
133 4145 9146 7138 1
96 3100 694 8
118 779 7
102 4
131 7120 6134 891 1
118.3
83 579 2
110.3132. 567. 1
103. 0122.4123.1
153. 4145.7175. 3153.9141.6
153. 8120 0169.9138 9
137.8161.7131.3133. 2
133 5145. 9147 2138 1
96 3100 894 8
121 679 6
131 719() 6134 890 9
118.3
83 779 1
110.1132. 568.0
102.2121.5121.6
153. 2' 146 0
175. 5153.3141.6
153.4118. 7169.5138 6
137.8161.8131 3133.2
133 5145 9146 9141.3
96 3101 094 7
123 379 6
101 8
131 8120 6134 890 8
118.6
83 579 0
108.7132.563.698.9
r 119.6
153. 2T 146 1
r 176. 7153. 1141.6
153.6118 8169. 9138 7
r 137. 8162.0131 1133.2
r 133 or 145 2145 3141 3
96 1101 094 3
126 878 9
101 5
132 01^1 1134 889 9
118.5
83 9i 79 Q
108.1132. 562 397.5
119 2118.4
151. 9146 2176.7153.0137 2
153. 5119 3169