SCB_101972

A UNITED STATESDEPARTMENT OFCOMMERCEPUBLICATION

OCTOBER 1972 / VOLUME 52 NUMBER H \J

SURVEY OFCURRENT BUSINESS

J.S. DEPARTMENTOF COMMERCE

Social and Economictistics AdministrationtEAU OF ECONOMIC

ANALYSIS

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

SURVEY OF CUBKENT BUSINESS

OCTOBER 1972 / VOLUME 52 NUMBER 10

CONTENTS

THE BUSINESS SITUATION

Stat -Local Fiscal Position 1

Recent Priee Developments 3

Keeent Labor Market Developments 4

Alternative Calculations of Constant Dollar GNP 6

National Income and Product Tables 11

Second Quarter Developments in Eegional and State Income 15

Tte International InvestmentPositionof theUnited Skates t Developments in 1971 18

Manufacturers9 Inventory and Sales Expectations 24

Revised Manufacturing and Trade S#te% Inventories*and Inventory {Sales Ratios 25

&.&. Balance of Payments Summitry 1948-59 Annually 26

U.S. iWi^rn4tif*?W Transactions, 1948^59 Annually 27

Summary National Income and Product Series, 1929-71 28

CURRENT BtlSlJÊSS STATISTICS

General S1-S24

Industry S24-S40

Subject Index (Inside Boefe Cover)

• • - -%rcso«»*

U.S. Department of Comndteree

Peter G» Peterson / Secretary

James T« Lynn / Under Secretary

C* Passer / Assistant Secretaryfor Economic Affairs

and Administrator Social andEconomic Statistics Administration

of Ewn&iiaie Analysis . , • :

George Jaâd / director;Morris R* Goldman / Depit&y Director&ora S* Collins / Editor£eo Y. Baixry,'Jr.'/ Se«*lf eie« EditorBilly JTo Riirley / <

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the BUSINESS SITUATION

E<jCONOMIC activity continued toexpand rapidly in the summer, thoughat a slower pace than in the secondquarter of this year. Preliminary esti-mates show GNP rising $22% billionto a seasonally adjusted annual rate of$1,162% billion; the GNP increase incurrent dollar terms had been in excessof $30 billion in both the first andsecond quarters. GNP in real termsgrew at an annual rate of 6 percent;that increase was appreciably less thanthe unusually strong growth rate re-corded in the second quarter, but notmuch below the rate in the openingquarter of the year. The rate of priceincrease continued to be quite moderatewith the implicit price deflator rising2.2 percent at an annual rate, up only alittle from the low 1.8 percent rate ofincrease in the second.

On the basis of source data that arestill incomplete, the estimates show anincrease of $% billion in the rate of inven-tory accumulation as compared with anincrease of $4% billion from the first tothe second quarter. The rise of finaldemand also slowed from $25% billionin the second quarter to $22 billion inthe third.

Among the major components offinal demand, residential investmentincreased $1% billion, a little fasterthan the $1% billion growth in thesecond quarter. To judge from partialdata, exports and imports of goods andservices both increased substantially,but the gain in exports exceeded that inimports and net exports were a smallernegative by $1% billion than in thesecond quarter.

The other major components of finalsales showed less expansion than inthe second quarter. Consumer pur-chases of goods and services increased

CHART 1

GNP up about $22 K billion in third quarter

Billion $

FINAL SALES rose $22 billion40 ~

30 -

20 -

INVENTORY INVESTMENT little changed20

10 •

-10 _ ;

REAL OUTPUT grew about 6 percentPercent

10 ~

1 ' ' ' | 1

-5 -

GNP DEFLATOR increased 2H percent10 '

Th1968 1969 1970 1971 1972

Change From Previous Quarter

Seasonally Adjusted at Annual Rates

U.S. Department of Commerce, Bureau of Economic Analysis 72-10-1

$14% billion, as compared with $17%billion in the second quarter. Theslowdown was in nondurables; outlaysfor services continued to rise at aboutthe same rate as in the second quarter.Spending for durables accelerated, re-flecting a step-up in spending for furni-ture and household appliances and fornew cars. Sales of domestic type autoswere at a seasonally adjusted annualrate of 9.8 million units, up from 9.1million units in the spring; sales offoreign cars increased from 1.5 millionto 1.6 million units.

Business fixed investment increasednearly $2 billion, about $1 billion lessthan in the second quarter. Spendingfor equipment continued to advanceat a rate close to that in the precedingquarter, but construction outlays,which had registered a modest gainin the spring, declined $K billion.Government purchases were up $2%billion as compared with $4% billionin the second quarter. The rise inState and local purchases ($4K billion)was nearly twice that in the springquarter, but Federal spending declined$2 billion following a $2^ billion risein the preceding quarter. A $3% billioncut in defense spending was offset inpart by a $1K billion rise in nondefenseoutlays.

State-Local Fiscal Position

Final congressional approval inOctober of a Federal program of reve-nue sharing is expected to acceleratethe improvement in the fiscal positionof the State-local government sectortaken as a whole that has been evidentduring the last several years.

Federal grants-in-aid for revenuesharing for calendar 1972 are expected

1


SUEVEY OF CUEEENT BUSINESS October 1972

to total $5.3 billion, current plans callfor at least half of these funds to be paidin the current quarter. For calendar 1973,$6 billion will go to State-local govern-ments under the revenue sharing legis-lation. During the 5-year period cov-ered by the new law (1972-1976) morethan $30 billion will be allocated toStates and localities.

These large increases in Federal aidcome at a time when the State-localbudget on national income account(NIA) has moved into a substantialsurplus (Table 1). As indicated in thetable, this shift has emerged in recentyears as social insurance fund sur-pluses have grown steadily and as thedeficits in other funds, mainly operat-ing funds, have been shrinking. From1968 to 1971, the overall State-localfiscal position shifted from a deficit of$0.3 billion to a surplus of $4.8 billion.It should be recognized that eventhough the aggregate budget positionhas improved, many individual Statesand localities continue to face severefiscal problems.

The surplus increased further in thefirst half of 1972, reaching a record$14.8 billion (annual rate) level in thesecond quarter. The overall secondquarter surplus was swelled by twononrecurring factors—a $4 billion ad-vance payment of public assistancegrants and $0.8 billion of unusually highincome tax settlements in Pennsyl-vania—but a surplus would have beenrecorded in operating funds even intheir absence.

Impact on full-employment deficit

Revenue sharing is a major factorcontributing to the anticipated full-employment deficit in the Federalbudget for fiscal 1973. According torecent congressional testimony by ad-ministration officials, if outlays on theunified budget basis are held to the $250billion ceiling proposed by the Presi-dent, the full-employment deficit infiscal 1973 will total $4.5 billion (unifiedbudget basis). Since revenue sharing isexpected to add over $8 billion to fiscal1973 outlays, the projected full-employed budget positions in the ab-sence of revenue sharing would be asurplus of about $3% billion.

The fiscal impact of the projectedFederal full-employment deficit is de-pendent on how States and localitiesuse revenue sharing funds. To theextent that these governments spendthe new Funds, reduce existing taxes, ordefer tax increases otherwise planned,revenue sharing will have an expansion-ary impact on the economy in line withits impact on the Federal full-employ-ment deficit. However, to the extentthat State and local governments usethe revenue sharing funds to retireexisting debt, or to invest in financialassets, they may well offset the fiscalstimulus implied by the Federal full-employment deficit.

Recent fiscal shifts

Large budget surpluses for all Stateand local governments combined repre-sent a considerable departure from thepast. Between World War II and 1969,the State and local fiscal position on theNIA basis has been in the range betweenplus and minus $2 billion every yearexcept 1958. In the 1960's, there was noimprovement in the budget positioneven though Federal aid increasedsharply. For the years 1960-69, theaverage annual State-local surplus wasonly $0.5 billion.

The recent improvement can beattributed to strong growth of receiptscoupled with moderate expenditureincreases. On the receipts side, Federalgrants have continued to grow, andState-local receipts from their ownsources have also increased rapidly.With respect to the latter, these govern-ments have (1) expanded their taxsources (especially new personal andcorporate income taxes which are partic-ularly responsive to economic growth) ;(2) increased tax rates on existing salesand income taxes; and (3) obtained

more funds from nontax sources, suchas charges at public hospitals and tui-tion payments to public educationalinstitutions.

The moderate growth rate of ex-penditures has been chiefly a result ofthe relative stagnation in constructionactivities. Despite very sharp short-term increases and decreases, overallgrowth of construction outlays in thepast four years has been very slow. Inparticular, school construction has de-clined every year since 1968. Demo-graphic changes and voter reluctance toapprove school bond issues have bothcontributed to this trend. High interestrates were also a factor during the tightmoney period of 1969-70, but interestrates have declined sharply since thattime and no longer appear a deterrentto increased capital spending.

Huge surpluses unlikely

Although the fiscal outlook for Stateand local governments is brightening,there are reasons to believe that theextremely large surpluses suggestedfor the longer run by some recent stud-ies may not be realized. Expendituregrowth is likely to pick up and thegrowth of receipts other than fromrevenue sharing may be slowed.

Expenditures should accelerate, notonly due to revenue sharing but alsobecause liquidity positions of State-local governments, which were rundown during the credit squeeze of1969-70, have been largely rebuilt.With the restoration of normal liquiditypositions, public construction activitiesshould strengthen. There is no evidencethat this pickup has occurred as yet;June construction outlays were thelowest since early 1970. State-local paylevels may also be raised; the rapidgrowth of unions in the public sector islikely to be a contributing factor.

Table 1.—Fiscal Position of State and Local Governments (NIA Basis)[BiUions of dollars; quarterly data seasonally adjusted at annual rates]

Surplus or deficit (-), NIA basis

Surplus, social insurance funds. _ _

Surplus or deficit all other funds..

1946-53(avg.)

0.1

.6

-.5

1954-61(avg.)

-1.0

1.7

-2.7

1962-66(avg.)

1.2

3.1

-1.9

1967

-1.6

4.4

-5.9

1968

-0.3

5.0

-5.3

1969

0.7

5.7

-5.0

1970

2.8

6.5

-3.7

1971

4.8

7.5

-2.7

1972

I

7.1

E8.1

E-1.0

II

14.8

E8.4

E6.4

E Estimate.


October 1972 SURVEY OF CUEEENT BUSINESS

Over the longer run, the growth rateof receipts may slacken. It is unlikelythat State income tax growth will con-tinue at the recent pace. Also, localproperty taxes (which still represent aquarter of all State and local receipts),traditionally the primary source offunds for education, are under in-creasing pressure from both the courtsand the voting public. Third, revenuesharing itself, together with restric-tions on other Federal expenditures,may well stimulate reduction of otherFederal grants to State and localgovernments, or restrict their growth.

Recent Price Developments

From midsummer 1971 through earlythis year, price movements were dom-inated by the imposition and subse-quent removal of the wage-price freeze.During the past six months, however,price movements have been relativelyfree of distortions associated with thefreeze. Prices paid by consumers havebeen rising moderately, with monthlyincreases averaging a little less than inthe first half of 1971 and noticeablyless than in 1969 and 1970 (table 2).In wholesale markets, agricultural priceshave recently been rising at an extraor-dinary rate and, because of this, theoverall wholesale index has been risingsomewhat more rapidly in the pasthalf year than in the first half of 1971.

Increases in industrial prices haveslowed somewhat in recent months;the average monthly advance duringthe past half year has been about thesame as in the first half of 1971.

The consumer price index increasedan average 0.3 percent per month,seasonally adjusted, in July and August,up slightly from the average 0.2 percentmonthly increase in the second quarter.(Data for September were not availableas this issue of the SURVEY went topress.) Food prices were the major fac-tor in this stepup. Prices for foodaccount for almost one-fourth of theoverall index and they are highly vola-tile, and therefore often have an import-ant impact on changes in the index,Within the food group, the accelerationwas heavily concentrated in two majorcategories—meat, poultry, and fish,and fresh fruits and vegetables. Thesetwo categories account for two-fifths ofthe food index but were responsible forroughly 80 percent of the average July-August increase (table 2). Demand formeats, particularly beef, strengthenedsignificantly in late spring and summerand, in an attempt to increase suppliesand ease price pressures, import quotason meats were lifted late last June.Price increases for fruits and vegetablespartly reflected the fact that outputwas affected by adverse weather condi-tions during most of the first half of1972.

Table 2.—Average Percent Changes in Prices[Percent change per month, seasonally adjusted]

Consumer Price Index

All Items. _

Food.......Less meat, poultry, and fish... .Less fruits and vegetablesLess meat, poultry, and fish, and fruits

and vegetables.

Commodities less foodServices2

Wholesale Price Index

All commodities.--... ..

Agricultural products

Industrial coTn-mnditifisLess lumber and wood products

19

1sthalf

0.5

.5

.2

.6

.4

.4

.6

.4

.8

.3

.3

69

2dhalf

0.5

.6

.7

.6

.6

.3

.6

.4

.4

.4

.4

19

1sthalf

0 5

3.33

.4

.4

.8

.2

—.2

.3

.3

70

2dhalf

0 4

1.21

.3

.4

.6

.2

-.1

.3

.3

I

0 2

.5

.64

.5

.1

.3

.4

.9

-.1-.2

19

11

0 4

5.63

.3

3.4

.4

.4

.7

.7

71

III

0 2

.10

1

.1

2.4

.2

-.2

.4

.3

IV

0 2

4.32

0

.1

.3

.3

1.0

0.1

I

0 3

6.29

.5

.2

.3

.4

.6

.3

.3

1972

II

0 2

o.1

— 1

o23

.4

.4

.4

.3

llli

0 3

5.34

.1

3.3

.5

1.3

.3

.2

Prices of commodities other thanfoods also rose at a faster rate in thesummer than in the spring, reflectingincreases among most durables andnondurable goods. A particularly sharprise was evident in prices for gasolineand motor oil, which rose an average 1

CHART 2

Prices

CONSUMER

140

130

120

110

100

90

\CommoditiesLess Food

in linn I n i ii I ii nil i ii i ilum I mil linn 11 mi 11 null t n i III n

1967 68 69 70 71 72

All CommoditiesN

1967=100130|

120

110

100

90

130

120

110

100

90

WHOLESALE

Farm Products,Food and Feeds

1967 68 69 70Seasonally Adjusted

* Not Seasonally Adjusted

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

71 72

Data: BLS72-10-2

1. Consumer price data shown for 1972-111 are average of July and August.2. Not seasonally adjusted.Source: Bureau of Labor Statistics.


SUEVEY OF CURRENT BUSINESS October 1972

percent in July and August. Highergas and oil prices may be due in partto decreases in discounts given todealers by the oil companies. In addi-tion, the State of California, whichaccounts for about 10 percent of theU.S. market for gas and motor oil,extended its sales tax in August toinclude gasoline.

Services prices make up nearly 40percent of the overall consumer index.In recent years, prices for services haveadvanced much faster than goodsprices and have been the major contrib-utor to the rise in the consumer index(chart 2). After 1970, however, theseprice increases moderated and stabi-lized. Price increases for householdservices other than rent (maintenanceand repair, property taxes, mortgagerates, and utilities charges) have beendecelerating and increases averaged 0.2percent a month in July and Augustcompared to 0.4 percent in the spring.The deceleration has been due partlyto a letup in the rate of increase inutilities charges. Rent increases haveheld fairly steady for over a year,averaging a little less than 0.3 percentper month. The rise of medical careservices costs (doctors' and dentists7

fees and hospital charges) has alsobeen declerating noticeably, and aver-aged 0.1 percent in July and August,down from 0.3 percent in the springmonths. The recent slowdown has beenmainly in professional fees, whichaccount for a bit less than half of themedical services index.

Wholesale prices

The rise in wholesale prices averaged0.5 percent per month in the thirdquarter compared to 0.4 percent in thesecond. That acceleration was dueentirely to the summer surge in agri-cultural prices, which rose an averageof 1.3 percent per month, well abovethe 0.4 percent average increase in thespring. Within the agricultural groupthe most dramatic acceleration was inprices of farm products. Grain prices,particularly for wheat and corn, rosesharply in the quarter, a developmentthat may be traced in part to the large

sales negotiated with the Soviet Unionin early summer. Fruit and vegetableprices also increased strongly for thesecond consecutive quarter. On theother hand, the rise in prices of live-stock, which surged sharply in thesecond quarter, slowed appreciably inthe third but not sufficiently to offsetthe increase in grain prices. Priceincreases for processed foods and feedsalso accelerated in the third quarter.

The rate of industrial price increasesslowed in the third quarter. Increaseshave been fairly evenly spread through-out the industrial sector with two majorexceptions—lumber and wood, and hidesand skins. Prices in these two groupsmake up only a small part of the totalindex but have increased very sharplyover the past year. Lumber has beenin strong demand as a result of theboom in homebuilding and seriousshortages of wood products have de-veloped. When the lumber and woodproducts component is removed, theincrease in the index of industrialprices in the last two quarters isreduced by about 0.1 percentage point.Recently, the Price Commission hasimposed controls on many of thecompanies in this industry which hadbeen exempt from regulation becauseof their small size. Also, salvage andthinning operations in National Forestshave been stepped up in an attempt toincrease the supply of lumber.

Prices for hides, skins, and leatherhave increased at a very rapid rate thisyear, but have such a small weight inthe industrial price index that they hadvery little impact on the movement ofthat index. The average monthly in-crease of 1.3 percent in the third quarterwas less than earlier in the year, butwas still unusually high. The UnitedStates has been the major exporter ofhides and skins, which have been inshort supply throughout the world.Last May, Argentina, the second largesthides exporter, replaced its year-oldexport limitation policy with a fullembargo on foreign sales, therebyfurther increasing the demand forAmerican goods in world markets.

Recent Labor MarketDevelopments

The demand for labor continuedstrong in the summer quarter accordingto both measures of aggregate employ-ment, the nonfarm payroll series andthe household survey. The averagenumber of employees on nonfarm pay-rolls increased 440,000 (seasonally ad-justed) from the second to the thirdquarter, reaching a new high of 73million. Though smaller than the sharpgains of 740,000 in the second quarterand 685,000 in the first, this increasewas well above the 245,000 averagequarterly advance recorded in 1971.The quarterly changes shown in table 3incorporate the annual benchmark revi-sion introduced by BLS in earlyOctober.

Nearly all of the growth in payrollemployment in the third quarter wasin the service producing industries;employment in these industries in-creased 380,000. Continuing the patternthat has been evident since the summerof 1971, virtually all of the thirdquarter employment increase in theservice-producing industries was intrade, and State and local governments,and the miscellaneous service group.Growth of State and local employmenthas been bolstered by the federallyfinanced Public Employment Programwhich, since its introduction in thesummer of 1971, has added roughly180,000 employees to State and localpayrolls. Federal employment fell morethan 30,000 in the third quarter; thatdecline followed a smaller reduction inthe second quarter and virtual stabilityin the first quarter and during 1971.

Employment in the goods producingindustries increased only 60,000 in thethird quarter, considerably less thanin the three preceding quarters. Allof the increase was in durable goodsmanufacturing, as employment declined21,000 in nondurables manufacturingand was unchanged in mining andconstruction. The weakness in con-struction employment was due to anincrease in the number of workers onstrike (and thus not counted in thepayroll survey data); had it not beenfor strikes, employment in construction


October 1972 SUKVEY OF CURRENT BUSINESS

Table 3.—Change in the Number of Employees on Nonfarm Payrolls

[Thousands of persons, seasonally adjusted]

Total

Goods-producing industries.. .MiningConstruction ._,Manufacturing.. _ _ _ _ _ .

DurableNondurable.. • _ _ _ _ _ _ _

Services-producing industries.. _.Transportation and public utilities. _ _ _ _ _Trade.Finance, insurance, and real estateServices.. .-.Federal GovernmentState and local government

I

197

—50—2

—35-13

27-41

2487

752957

—181

19

II

260

18—172

-53—35-17

242-12

7535473

94

71

III

82

—1215

—99—70-29

178-4610328701

22

IV

444

75—58

71624121

370-310937

1062

119

I

684

1856223

1007030

49946

15429

1105

155

1972

11

743

260H16

25519362

48127

17737

142—12110

III

442

61o5

6688

—21

381—411126

152—33129

1. Computed from quarterly averages.Source: Bureau of Labor Statistics.

would have increased substantially.Hourly earnings of production work-

ers continued to advance at a fairlybrisk pace during the summer, as theydid earlier in the year. The indexof average hourly earnings for theprivate nonfarm economy rose 1.1percent from the second quarter to thethird, to a level 5.8 percent above thethird quarter of 1971. The index ofaverage hourly earnings is adjustedto exclude the effects of employmentshifts between low-paying and high-paying industries, and of changes inthe amount of overtime in manufac-turing, and it is thus a crude proxy forthe behavior of wage rates. This indexhad risen 6.9 percent from the thirdquarter of 1970 to the third quarterof 1971, about 6% percent in each ofthe 2 years before that.

Though the rate of increase in thehourly earnings index has slowed duringthe past year, it has exceeded the rateof increase in consumer prices. Whendeflated by the consumer price index,the index of hourly earnings showsan increase of 2.6 percent from thethird quarter of 1971 to the thirdquarter of 1972, about the same as theincrease from the third quarter of 1970to the third quarter of 1971, but upfrom gains of about 1 percent in each ofthe 2 preceding years.

The manufacturing workweek aver-aged 40.6 hours in the third quarter,virtually the same as in the secondbut well above the average 39.8 hoursin the third quarter of 1971. Overtimein manufacturing also held steady in the

third quarter at an average 3.4 hoursper week, up from 2.9 hours in thethird quarter of 1971. In manufactur-ing, the average hourly earnings index(adjusted for overtime and interin-dustry employment shifts) has in-creased 5.8 percent during the past year,

Table 4.—Labor Turnover Rates inManufacturing

[Per 100 employees, seasonally adjusted]

1970-1IIIII.rv

1971-1

Si:::::::::IV

1972-1.IIIll*

Totalacces-sions

4.24.14.03.7

3.83.83.93.9

4.44.34.5

Newhires

3.12.82.72.4

2.42.52.62.7

3.03.23.4

Totalsepa-

rations

5.05.04.64.8

4.24.14.34.1

4.24.34.4

Quits

2.42.22.01.8

1.71.81.81.8

2.12.22.3

Layoffs

1.71.91.72.0

1.61.51.71.4

1.21.21.1

*Average of July and August.Source: Bureau of Labor Statistics.

the same as the increase in the indexfor the private nonfarm economy as awhole. The combined result of that gainand the significant lengthening of thefactory workweek has been a strong in-crease in weekly earnings in manufac-turing, an increase that has been con-siderably faster than the rise of theconsumer price index.

Evidence of strength in labor marketscan be seen in the behavior of laborturnover in manufacturing. The rate ofaccessions (new hires and rehires)in the third quarter (average of Julyand August) averaged 4.5 per one hun-

dred workers, up from 4.3 per month inthe preceding quarter and 3.9 per monthin the third quarter of 1971 (table 4).This stepup in hiring mainly reflectsnew hires, that is employees not trans-ferred from some other establishmentof the same company or recalled fromlayoff.

The monthly layoff rate has beendeclining steadily since last summer,and reached 1.1 per hundred workers inthe third quarter, down from 1.2 inthe second and 1.7 a year earlier. Thequit rate, in contrast, has been steadilyrising, indicating that workers arelocating new jobs more easily and thatthey are becoming more optimisticabout job prospects.

Job vacancies in manufacturing aver-aged 130,000 (seasonally adjusted) inthe summer, up from 121,000 in thespring and 88,000 in the third quarterof 1971. For well over a year, the growthof job vacancies has been greater thanthat in aggregate payroll employment.Also, help wanted advertising in majornewspapers, another indicator of labordemand (particularly the demand forskilled labor), has increased sharply.The index of help wanted advertisingwas 107 in the third quarter, up from94 in the second quarter and 83 in thethird quarter of 1971.

The household survey

The civilian labor force and employ-ment continued to expand strongly inthe third quarter and the number ofunemployed declined. The number ofpersons in the labor force increased400,000 (seasonally adjusted) from

Table 5.—Selected Unemployment Rates(Seasonally Adjusted)

[Percent of labor force]

All workers

Adult menAdult womenTeenagers -

WhiteNegro and other races

Household headsMarried menFull-time workers .....

3dqtr.1972

5.6

3.95.6

16.1

5.09.9

3.32.75.1

2dqtr.1972

5.7

4.25.6

15.8

5.39.9

3.52.95.3

1stqtr.1972

5.8

4.15.3

18.2

5.310.6

3.42.95.4

4thqtr.1971

5.9

4.35.7

16.9

5.410.1

3.63.25.6

3dqtr.1971

6.0

4.45.7

16.8

6.510.1

3.73.25.5


SURVEY OF CUERENT BUSINESS October 1972

the second quarter to the third, thenumber employed increased 540,000,and the unemployment rate dropped to5.6 percent. The unemployment ratehas dropped 0.1 of a percentage pointin each of the past four quarters.

Unemployment rates for most majorgroups within the labor force declinedor remained unchanged and are lower

than in the third quarter of 1971(table 5). In addition, the average dura-tion of unemployment fell during thethird quarter to 12.0 weeks, down fromthe all-time high of 12.8 weeks recordedin the spring. However, the thirdquarter rate is still above the 11.8week level of the third quarter of lastyear.

Alternative Calculations of Constant Dollar GNP

The rate of change of GNP in con-stant dollars ("real GNP") is generallyinfluenced by the choice of the valua-tion period used for the constant dollarcalculation. The estimates prepared byBEA are currently in 1958 dollars; thismeans that the value of output inevery period is restated on the as-sumption that 1958 prices prevailedin every period. If the prices of anotheryear were used instead, the resultingconstant dollar GNP could show rates

Table A—Alternative Measures of Real GNP

GNP in constant dollars of—

19621963 _ _1964

19651966-196719681969 _.

19701971-

19631964.

1965 -.196619671968.1969

1970-1971. -

1962-71 ...

1958 1967 1971

Billions of dollars

529.8551.0581.1

617.8658.1675.2706.6725.6

722. 1741.7

625.2650. 0684.7

726.0773.3793.9829.7851.3

848.7870.7

755.4784.2824.9

875.4933.1960.4

1,004.81,030.4

1,023.21,050.4

Percent change from previousyear

4.05.4

6.36.52.64.72.7

-.52.7

4.05.3

6.06.52.74.52.6

-.32.6

3.85.2

6.16.62.94.62.5

-.72.7

Average annual percentchange

3.8 3.7 3.7

of changes over time somewhat dif-ferent from those shown by GNP in1958 dollars. The reason for such differ-ences is that the prices of various goodsand services change relative to oneanother over time. (The selection of thevaluation period has no effect on therate of change if the outputs or theprices of all the goods and serviceschange in the same proportion overtime.)

The valuation period used in cal-culating constant dollar GNP will bechanged when BEA next benchmarksthe national income and product ac-counts. Meanwhile, some preliminarycalculations have been made which showthat constant dollar GNP calculated

with the prices of more recent years,1967 and 1971, show rates of changeover time similar to those shown byGNP in 1958 dollars. These years wereselected for comparison because 1967is expected to be the valuation periodin the next benchmark revision and1971 is the latest year available.

Table A compares the rates of growthfrom 1962 to 1971 in GNP in constant1958 dollars, in constant 1967 dollars,and in constant 1971 dollars. Over thenine year period, GNP in 1958 dollarsincreased at an average annual rate of3.8 percent as compared with 3.7percent in either 1967 dollars or 1971dollars. On an annual basis, the dif-ferences between the changes in GNPin 1958 dollars and those in the alter-native measures of real GNP, whilesomewhat larger, are still quite small.The largest differences occurred in1965 and 1970, when the annual ratesof change differed by 0.3 and 0.2percentage points, respectively.

Table B shows quarter-to-quarterpercent changes (at seasonally adjustedannual rates) for GNP in constant 1958dollars, constant 1967 dollars, andconstant 1971 dollars. Differencesamong the quarterly movements ofthe constant dollar series are generallysmall, the largest being in the firstquarter of 1965, the fourth quarter of1968, and the first and fourth quartersof 1971.

Table B—Quarterly Changes in GNP in Constant 1958 Dollars, Constant 1967 Dollars, andConstant 1971 Dollars

[Percent change from previous quarter, seasonally adjusted annual rate]

1962' IIIIIIV

1963: IIIIIIIV

1964: I.... -IIIIIIV

1965: IIIIIIIV

1966: IIIIIIIV


1958

6.54.33.7

2.23.66.65.4

6.65.35.11.9

9.25.98.29.4

8.13.73.24.9

1967

6.44.13.3

2.43.96.25.2

6.45.44.92.3

7.96.18.09.1

8.43.63.34.6

1971

6.64.23.6

2.23.26.45.0

6,05.34.62.1

8.46.38.09.1

8.14.03.44.9

1967: IIIIII _ .-IV

1968: IIIIIIIV

1969: IIIIIIIV

1970: III ..IllIV

1971: III ... .IllIV


1958

-0.93.04.42.8

5.47.54.02.4

3.41.91.9

-2.3

-2.51.52.0

-4.8

8.03.42.56.7

1967

-0.42.74.63.1

5.07.14.31.3

3.42.51.6

-2.1

-2.01.12.4

-4.2

7.23.42.55.5

1971

0.22.74.92.9

5.07.53.62.7

2.81.82.0

-2.4

-2.51.01.8

-3.8

6.73.32.26.8


October 1972 SUEVEY OF CUKKENT BUSINESS

* GNP rose $22% billion in third quarter-real GNP grew 6 percent (annual rate)® In September: The jobless rate was 5.5 percent; nonfarm payroll employment increased 240,000® Wholesale prices rose about 0.3 percent; prices of industrial commodities increased 0.2 percent

CHART 3

TOTAL PRODUCTIONBillion $

1,150

1,100 -

1,050 -

1,000 ^

950

Billion $

Quarterly (III)

40

30

20

10

CURRENT DOLLAR GNP*(Change From

- PreviousQuarter)

Total—

=•*• Final Sales

Quarterly (III)

Billion $

850

800 -

750 -

700 -

650

Percent

Quarterly (III)

CONSTANT DOLLAR (1958) GNP(Change From Previous Quarter)

TotalFinal Sales

1970 ' 1971 ' 1972 BEA

Quarterly (III)

* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates


THE LABOR MARKET PRICESMillion Persons

89

86

83

80

77

CIVILIAN LABOR FORCE AND EMPLOYMENT*

Labor Forcev

Employment

'•»*""*•**"

Percent16

12

IMPLICIT PRICE DEFLATOR FOR GNP*(Change From Previous Quarter)

llillh.l,,Monthly (Sept.) BLS Quarterly (111)

Percent

UNEMPLOYMENT RATE

Total

Percent

16

12

CHAIN PRICE INDEX FOR GNP*(Change From Previous Quarter)

llillihlnMonthly (Sept.)

Million Persons

76

BLS

Billions 1967=100

Quarterly (III)

NONFARM ESTABLISHMENTS

Employment* (left scale)72

68

64

60 I i i i i i I i i i i , I i i i i I I i i i i i i i i i i I i

Monthly (Sept.)

160 140

150 130 -

140 120 -

130 110 -

i I 120 100 I i i i i i 1

Monthly (Aug.)

Hours

45.0

42.5

40.0

37.5

35.0

D

PRODUCTION OR NONSUPERVISORVWORKERS (PRIVATE)*

Average Hourly Earnings ...**"""*(right scale) /* "

" .,."X AverageWeekly Hours(left scale) ,

.•••***,.-•"""

Dollars 1967=100

3.75 125

3.50 120

3.25 115

3.00 HO

2.75 105

WHOLESALE PRICES

_ , Processed Foods

IndustrialCommodities

1970 1971

Monthly (Sept.)

1972 BLS 1970 1971

Monthly (Sept.)

*'

Farm Products Total /£

1972 BLS

72-10-3


8 SURVEY OF CURRENT BUSINESS October IOTS

® In September: Personal income advanced $5% billion, wages and salaries accounted for most of the gain• Retail sales declined; sales of new domestic cars were up sharply• Housing starts little changed at an annual rate of 2.35 million units

INCOME OF PERSONS CONSUMPTION AND SAYING FIXED INVESTMENT

Billion $ Billion $

950

900

850

800

750

'-. , "- '-;'., • " '' ' - - • ' . ' • • / • *J>

/PERSONAL, INCOME" , . . . ; . . , '-J:',':•••••• - ' ' • • ' ' '. " S"^ • •- • / ' ' -

: - ! • • ' • : • ; . - . - • Jr*<-••:•: '•.••^/•:':•'•• f&*^>/ ;,£, : \ ••

YM i f f H ri \• \ '-; '"-,' •' ,; '• ,i i j ri h,,i,i t i

.... -

;.;,.. -v . _

I I M 1 J 1 1 M t

750

700

650

600

«; n

Percent Billion $

PERSONAL CONSUMPTION EXPENDITURES ** •AND PERSONAL SAVING RATE* /

' • .: ', , v^

Persona! Consumption * J*Expenditures '^^^

_ w™^' -^^^- /^ *** J %'"v^

^

-

/ Personal Saving Rate *Tx(right scale) | \

\ i t

Monthly (Sept.) BEA

Billion $ Billion $ Billion $

650

600

550

500

450

.WAGES AND SALARIES** ; ; '^^/*-

- ' • - Total ;'• • v , , ->p,v" :(left scale) . ^*s

\ .'•• i**"^--

~/^:'-::- , ' ' , ' , **«*•*

'"l M M iVt M 1-

f** : ' ': , Wanufacturing

(right scate)

...:""''- , '•

] \ 1 ') I i 1 \ 1 1 t

• ," / '-

>^;"iT^"'//•' ''"': '

V-VTl t f;i V - t ' i f

40

35

200 30

150 25

100 20

I t 1 1 f '""" • 1

14 100

12 75

10 50

8 25

6 0

" . ' ' • > ' • ' ' / ^ -, , ; . -\, - „- ' ' ,; ~ ', - '

,, Producers' umfrfe Equipment** , ;

- - : •-. : ; ;, ; .;•./ ; \- ,; • , '':. ^^-^y : - -' M. m— «—•'****''>»"' ' ««.''•*" "*~ """• : , ' ^T- ' ' - , ' ' '_ Non residential Structures^r ' • -. . ;

_-......„..-<•- • , - . - • ; ; • ; • . ;

.Residential Structures**. • ' ' ' ' ~ ~ • '

i i - - t :i i i *

****** "*"'""" ' —

*~

: \ •• \- - ; ! - • • -Quarterly (III) BEA Quarterly (ill) BEA

Billion $

"RETAIL STORE SALES* _^

' •' •

<^.

^^^,

~Z* '****"*

i l l I f 1 I 1 1 '! 1

Monthly (Sept.) BEA

Billion $ Million Units

850

800

750

700

650

DISPOSABLE PERSONAL INCOME** ;'•\ • - - - • • " • , - • ' „ ' • ' • • , . -

• * * ' ' • * , ' '" ' ; - , : '

' - • ' , •• • ' - -,', , "-,, ' ' - -jtr '-' " - - • • "' ' •• " ' *^s^'' •

-,,-;^/:, * , -^L^^^' , ' " ' • ' \ - ' " • jt- * "• • '

' ':^"X: ' • -; • ' ' ' • ' ' "~ ' ^^/^: i i i - ' I "'r '\ - - '

. ^V, - ' - / • -

•' ' • '';

ViV-V 1 ; •

12

10

8

6

4

IOif /^\^^ ~

^~^r~Excluding Automot

i t 1 1 [ 1 1 ] 1 1

.^^ -

ve Group

M \ I 1 1 M M 1

100

90

80

70

60

PLANtAND;EQUIPMEMIEXPENDlTURESM - . , .- - ' ~ ' ' • ; . ' , , . , ,

"," "-- ' ~- ~ , ., , - ' , - - - , -jf

^'^^^^' ,. . ' '- • ' , . ' - - - • " ' ' ' • : ' • ' *•:•' - ' '

^ ; - - . ' - ' '-';,?- >?•• ' •' '" ' , , ] '

''. ":c 'rv:r/^Lh-:i;" &/'.

; '' - • • ~

'•' :', '-- ;, _ , ' • ' ' - —

o Expected

:f ' t ' - ' i i

Monthly (Sept.) Census Quarterly (IV) BEA

Million Units Billion $

NEW CAR SALES**

- ' •Domestic(left scale)

A \

11

\-^:>-r*V\/r t i nh ri i i

Quarterly (III) BEA

Dollars Billion $2,900

2,800

2,700

2,600

•? snn

REAL PER CAPITA DISPOSABLE-:'; PERSONAL INCOME^ ;

I4lhf 1958 J)oilars) ; : : ; .-, • -

'; , ,-•'• -- --" -," '. ' • ' • ' , ' ' ' • - , S

"&^.' , _ ' , ; _ .>',-r','-'

' - -i v.r :r V - 1 : 1 - ' ' [ ' '

1.5

1.0

.5

0

-.5

A x/ ~A AP/\

"~^J \Imports

(right scale)

' • i JL*. •', *—• s

T I M i l l 1 M 1

-

- • . ••; -

1 I 1 I ! 1 1 M M

10

9

8

2 7

0 6

, , - - ' , ' ' ' - ,

CAPITAL fiQODS MANUFACTURERS^ "', ,; (WOHDEFENSE) / ; ^

-r-- • • ' " • ' • ' - ' - / ' ' - / ' • ' ' ' • ' ' - „ ?' / !- >"/*"**:< -• '••' . :* '::- ;/ ' *-: /." .'''•' ,-, l/^s •'- -

' - " - ' ' - ' : v - " '' ; ' • '• •• '•• -/Îr . : .-- , • -".^ , •• :-, -1- , - , -,, f

" Shipments ;;t\; ; */-' -• ; ^\ /. % '"" :* '( '•"^••ff^ ,^7\-//\.X' ^•i*^w^;/'^;'-:'

v ; ";X Mew Orders

} M II 1 1 J M - f ' t \ \ \ i l l M II

''•V'' -'/.-:•/•""

'i '•• , -; :'.—

i '- 1 M 1 1 t n t i

Monthly (Sept.) Trade Sources & BEA Monthly (Aug.) Census

Million Units

' . • " *. -'i'NET CHANGE IN INSTALLMENT ' Kt\ ICREDIT OUTSTANDING* . A /V \7

"""' ; ' ,

V^\1 4v

I'M 1 M I I I 1 1 1

1970 1971 1972 1970

Quarterly (III) BEA

/\/VA "

rf i l l f 1 t i 1 1 ! III M 1 t M i l

3.0

2.5

2.0

•i c1 .0

10

/.PRIVATE HOUSING** ( ;

*~< ' - , .• ;\ - / ; , /: .; '...;\' ' • ''/

.''•-':' , ' • • ' • - , , , ' - " - • ;

/{ ?/"'

• •' .' ; ^tark > ' ' "' : >J&\!r.-*„ ; Otal t& v,- , Jf^* * 1 ~

'*f M M" l - f - i - 1 1' 1 M.f 1 I -1 I- M-,tM

* \ A ~

• \/ ' /'**

1 1 M 1,1 1, 1 l I 1

1971 1972 1970 1971 1972

Monthly (Aug.) FRB Monthly (Sept.) Census




fctober-1972 SURVEY OF CURRENT BUSINESS 9

• In third quarter: Inventory investment showed little change• Net exports rose $1% billion

INVENTORIES FOREIGN TRANSACTIONS GOVERNMENTBillion $ Billion $30

20

10

o

-10

CHANGE IN BUSINESS INVENTORIES** / V :

, (GNP BasisJ • ; ' ; < • ) • " • ''v^-x. >':/.: ' -— - - - , - ' ; X ./"-v - ; > - ; '"'X " : ~

1 • ' '-" - - - - - V X - - ' - ;v -- - - .:• -- . " V " x X < -X- X- * ; ' - ; : - « v '"\ ' ' •;.' .'•'; - , " • - -- -

-III •llt£l!li • "• ' • X. , X ~ ! -,", \ - - -XX , ••: * X" _ , - - "; ' - , ' - - - - '

10

5

-5

-10

NET -EXPORTS'*'

Billion $

c - / , , ' -

Goods and Services ; , ;/"~/, - ^../•""piz^xi

'*** - •" " ' • ***v-'

• , -- , ' - -

, - - , -

t . "' 1 . 1 ,Quarterly (ill) BEA

Billion $ Billion $

200

190

180

170

160

: MANUFACTURfÂND TRADEiNVENlORIES*^ '(Book ValueXEnd $ Affitnjx , ; ;f; ! -.

-" • ' \ " , - • ' ' . ' ;.: *'XX;;X; • . X / ';':/' ;; :;-

' ; :";--: ' * '/•:••• / '*X- :\x' X ;*'X X>^-':: -V"- - ' , - • ' ' " ' • , ''X x ; f^^:\^^^- :- x

1':, ''''; ?X ':••'• p^Mf' -6 ->-

'• -. ':].^f^^K^--^:f^ ' :.

">^-\.:^y^^fi-^^r-f M t 1 M f I 1 I 11 V it I II M 1 h Ml 1 t i t II

0

5

4

3

2

• • - ,- ' - • • • - • ; - , , -

\ - , - • • X- ' ' ' - -

-V^Li. •-:' V ' ; ' - - - . 7 ' - . - "

WtO ;Merchandise *», , * .-

- ' - ' • - , - ' -';' ' , - " ,;'*****» '-"'-

i i i ^ i i ' i

200

160

120

80

40

- > - - - - - ' • -: GOVERNMENT PURCHASES OF

; GOODS AND SERVICES** ; x ^ :V v -

; x -• " ,x 'Staterand .Local- ;- : <<^r~~~*~~~ :

:-"^^^ :; ! ;: ; ,

':^. ,H;^^^" ; - , , ; - ; - / ' , ' , , • - , ' - - - - , - , ' „ - - ' ;' X' V

"'"-"SST"""-""""""^"""' •x'r"r; ; • • ;

Quarterly (ill) BEA Quarterly (III) BEA

Billion $

MERCHANDISE TRADE*

„-• 'v - • • • •- ' . -

- Exports

i\£xp^~ Imports

1 1 M ill 1 M 1

Monthly (Aug.) Census & BEA

Billion $ Billion $

140

120

80

60

lyiANOFACTURlNG AND TRADE INVENTORJES*, tBoqk ValueÊhd iorrtHKv';/ -W.;'V, ; ^ v

""- *•: ' , ' - ^':-..w^V:' f:\v-\\ -,\\ / " •'. '^ '-.'\"

,:':Manujachiriiig--V/'! / ;- . " • • - / v- - : - v ,Vn 'V^ . < , - / . . • x :• . -p-. •'."

-'" '*:* ' "--;> - /"/-V" ,:'-'-,' ' - - - '" " •;' '•-:' ; .-- :;- v,/ ,«,..w-» ' " ,-/ -*'

' '••^ ':-,"'' ;w;..* - ' '; '•': ': >rV" :^-> : ' - -:r: :

II 1 1 J t t 1M ( I l i t 1 1 1 M t i 1 1 1 1 VI 1 1 1 1 1

10

5

0

-5

-10

, , ; , ' - ' . - ' • • , - ; ' - , , , -- '' , - '" X ' ' - ,- - ' ; ' - ' - ' ; ' X' -- - ;__

v • ' ! ' • ' • ' • ' -: '--,;• ' -• ->-/:.\ - • . •*!•' x /*v**»«-^** ' - . -

y^Jl •$&*:•' ~

I /

J H M 1 1 1 I 1 ! 1 M 1 1 | LJ t II

280

240

200

160

i9n

', - - - - - - - ''FEDERAL BUDGET**' ; , - \ V , / .

- (NIA Basis) ,/.- - , - . ; ; - . . • ; x, x •< ;:- ' ' ' • " V' ' ,' ", ' ' " - X ''>-*T*v'**""" - ' ~

Expenditures ' ' ;'' >•;**** ';^^---- -x- >" '-'- . _ _ / _ _ / / \ ' ;.,.»*"*"""' - , " *-* -f-^*" '•' , - •

-x II -----< :t:;:: /' ' •-- - ' - , '..-/— • - ' , . - • • v .' :, ; - ' - ;X - - , - - • - „ - ' " ' '

-'Receipts. / -, ,x;x- '-- ' ' . '';':;":x~-'\'' - '

1 f V 1 1 1- ' 1 , 1 I X

Monthly (Aug.) Census Quarterly (III) BEA

Billion $

BALANCE OF PAYMENTS*„. . . ,- - • - ,- , • ::, ... --'--; ,- --- , : ,-, , - , ^

5 .Current Account , V f•"^ ' ••V/-

-; Current Account and ;/.-.-.. - - , - -- ..s" ' -,- -5 ' ~ ! - -

: :• 'i • ' i - -r-''Monthly (Aug.) Census & BEA

Ratio Billion $

2.6

1 8

1 4

1.0

IMVFWTfiRY/^&i'P^s" RftTtfl^*- -; -•'- ! • ' • '•• - *" ,'llTTi-lt lur\ i/OrVLt-o l»nl|UO ;-;-.-! ~ - - - - - - / - " - , - ' - •

Maûfaet«r^^^ : > ; ;

- • - - - - - - -V-"X" N'~ - " - ; - , / ; V - ' - , - - ' - , , - -' ' ; - , ' "'^X^^<;:vV;>-^^^',;/ ;^

; , .r:^ ,'- -,; _

" •" ' ' ^''*'"~'-:^'''':''''^''''^*-\:'^1^^''^^''^- "- '•'

^?;S-:--^^7£'5-^^^-^::;^jfr--^^\%-^%^^^;^^;^-:^c-'x^.;l^y^^r-::;^--v^;ni;M i:i;n M/ t ^rri Itn i r ;;r;i ? i 1 1 V f t i t

5

-5

-10

-15

Cong-Terin Capital V: \x

, : 1 t l ! | / T I

50

25

-25

-SO

FEdERAl BUDGET POSmOM**; : x ! ;/"(NIA.Basfs) ." ;; x' - ; - .. " .}* v:,/'.,i , - - ; /J

- - ' • - - , ' - ' X- '• ' - - . X . X -- X • ' • • - ' - ! - - - X > - ; XX- • - - ' - • • •

- - ' -• ; - V . - ' : - . -' • , . . - - - -5 - ' - - - ' - , - ; - - -- - ,,

^ \,-', ^y- •• ^1 „ , l' ^1 ; l, -' 1 , -W1-^!' -'",

X .-; . - ; • " . . ' • • • • - - ' : - - - ' - " {1 1 1 1 1 1 X i ;I - 1

Quarterly (II) BEA Quarterly (11) BEA

Billion $

- --, ;-;;/- --,-\, ".- --•"• ^; , - , • - . . - , ' f - •; - y ^ " - -^^ • ,

/*" ,., 4-:^s

', ' V "y:. ' **'»»-i Official Reserve''

Transactions; Balance^ : • ;

1970 1971 1972 1970

Monthly (Aug.) Census & BEA

^ Net titiuidfity, :-^ '"/*-' ': ;

^t , Ba lance -,j^r^-v^x>:^^ - - - : \ _;:>:V***.X :-; •'/* = " • ' • . ' ' • ;/- - -•""-- y -'S\ -' -/»* • ' / - - - - - -^:^/r 'v'xj-xv /:-.-.•••: /- 'W/. ' , "V'xV'V; .

' . ••><-' :r \7.,-- ' ' ' • ••.,-"-:. <;v ;

•/;•- - V v - - s - " - ;";" ; - -- -,'x • • =. '-.•|v ' '-V- :"i. 'v- . :-;:r/-V.-l '"-'"

4

2

1

0

; -DEFENSE PRODUCTS S1ANBFACTURERS* ; ;; '

" ' ' : - „ - • ' ' - - v -:-^:; - - - - ;> --;':: ,\:. ; " ' >'\v " ; - . - . ' • ." '- ' . - • ';, ;x ;Sfiipments xv ' '.;„;;' % ! :,<-',:

X • ' -- - - , - " - ,! • ' , , \ - - ' , - ' - ' - ' « « ' ' - i \ -

w*~**N--Sfc- "v -• -^V! - fa'* • - * - / ' ? ' % '-^ '1 /*<'»**-^^^V^^ ^"\Z«V r ,?*»Sr/ -i\ •' ^ '

5 -- , -,,--', - -, ,,,4 : ,; , „ _ . ; , _ - - y, ,- - - - - - - ' >> ! -- , / - - - - , , - , . -_,- , -- , -

i l l i V t,--f:i-t i i i - f i l i l t i f f i i i i i t 1 i i i i \

1971 1972 1970 1971 1972

Quarterly (II) BEA Monthly (Aug.) Census




10 SURVEY OF CURRENT BUSINESS October 1972

• In September: Industrial production increased about 1/2 of 1 percent9 Bank credit continued to advance sharply, money supply increased moderately

CHART 6

* Interest rate on 3-month Treasury bills rose sharply, yields on corporate bonds little changed

INDUSTRIAL PRODUCTION MONEY, CREDIT, AND SECURITIES MARKETS PROFITS AND COSTS

1967 = 100 Billion $ Billion $ Billion $

130

120

110

100

90

INDUSTRIAL PRODUCTION*

Nondurable ,. ****Manufactures

./ ....-•]vv „.«»•*» »***»** Tntal

,r " \ / *~'^^s^\ . . ' •\j Durable

Manufactures1 I i i i 1 1 I I I 1 1 t 1 1 I 1 1 i 1 1

.**

^

/^

r"*~/

s _

1 1 1 1 1 1 1 t 1 1 1

550

500

450

400

350

BANK CREDIT AND MONEY SUPPLY* /

JT "***

Money Supply ^^\~ (right scale) ^^Bank Credit

....- ^

~*^^

1 1 ! 1 1 ! I I i 1 J

(left scale)

i i M 1 1 i i i M

/'"" :

•~

'

I M M i MM 1

260 125

240 100

220 75

200 50

180 25

CORPORATE PROFITS AND IVA, BEFORE TAXES**

-

Total— \

,:-/ : ' ^ '.............

*»».»*

i i iX

Monthly (Sept.) FRB Monthly (Sept.) FRB

1967=100 Billion $ Billion $ Billion $

150

125

100

75

50

INDUSTRIAL PRODUCTION*

Steel\

-— -^£V j&vT T^^^— t \/f i A t% /*' / 1

1 (\S

\lI If

i i i i i 1 i i it M ; i i ] i i i i i

J-

^

1 i 1 1 1 1 1 , i 1

6

4

2

o

-1

BANK RESERVES -X"

Total Reserves* f/(right scale) . A

\ /Â Sx/

A/

^ /-** \f

1 1 i 1 I I I . J 1 1

-V^ Net Free Reserves

(left scale)\ ,.

\.s*

i i i i 1 1 i i i i i

^^'**•»

i i ; i i 1 i M i i

34 125

32 100

30 75

28 50

26 25

^— -^ •— |/^

..-"'•• ..*.....-'":'

/

NonfinancialCorporations

i i i

Quarterly (II)

' -

^, —

..-••<* ,

—

1 1 1

BEA

CORPORATE CASH FLOW AND PROFITS**

- ,

Cash Flow After ^.^rDividends ^^•""""i

i . < ^t***"^\

- -^^

Profits After Tax

.»...........; .

i i iMonthly (Sept.) FRB Monthly (Sept.) FRB

Percent Percent Percent

100

90

80

60

RATIO, OUTPUT TO CAPACITY*

- ' - > ' ,

^~^l *><*v\ Manufacturing „;" ' ! ~ ^V- s \ ' - ~ " " "- ' -^

I I I I I I

***^

1 1 1

10

8

6

2

INTEREST RATES AND BOND YIELD

_\^^^- Corporate Aaa (Moody's)

NVXv \/N\

3-Month V,Treasury Bills -,

i i i i i i i 1 1 i

90-DayCommercial Paper

<.**N **»,

\./l

i i i i 1 1 i i i i i

-

/^

i i j i i l i i j i

24

16

8

-8

*****

I I I

Quarterly (II)

-

.—•*

1 1 1

BEA

COMPENSATION AND REAL OUTPUT PER MAN-HOUR,PRIVATE ECONOMY**

_ (Change From Previous Quarter) _

Compensation\ Output

~- ' — mm |~ «•«

ill 1

Quarterly (II) FRB Monthly (Sept.)

Billion $ 1941-43=10 Percent

40

36

32

28

24

DURABLE GOODS MANUFACTURERS*

- -"

A/

Shipments

j*£Â^%f NewLrs

1 f II 1 1 1 t . 1 I l 1 i f i 1 l i t 1

r

f i i i r 1 i t .' i r

140

120

100

on

60

STOCK PRICES

-. , • . _

Standard and Poor's 500 ^***S*

/^s\(

^\ r^1 1 1 1 ! J i i i 1 i i j i i ! i i ; i

S

1 l 1 1 l ! i l 1 1 • 1

24

16

8

-8

\.^^3 IS — ' —

f Jit.Quarterly (II)

=

BLS

UNIT LABOR COSTS, PRIVATE ECONOMY **(Change From Previous Quarter)

-

1:

. •!1970 1971 1972 1970 1971 1972 1970

Monthly (Aug.) Census Monthly (Sept.)

.II.

1971

Quarterly 00

—

-

1

1972

BLS




October 1972 SURVEY OF CURRENT BUSINESS

NATIONAL INCOME AND PRODUCT TABLES

11

1970 1971

1971

II III IV

1972

I II III*

Seasonally adjusted at annual rates

Billions of current dollars

1970 1971

1971

II III IV

1972

I II III 9


Billions of 1958 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)

Gross national product....

Personal consumption expenditures

Durable goods. _Nondurable goods __Services.... _

Gross private domestic investmentFixed investment. _.

NonresidentialStructuresProducers' durable equipment

Residential structuresNonfarmFarm

C hange in business inventoriesNonfarmFarm

Net exports of goods and services

ExportsImports

Government purchases of goods and services

Federal. .National defense. ..Other.

State and local

976 4

616 8

90.5264.4261.8

137 1132 2

100 936 064 9

31.230 7

5

4.94 8

1

3 6

62 969 3

219.0

96 575.121.5

122.5

1,050 4

664 9

103 5278 1283.3

152 0148 3

105 838 467 4

42.642 0

6

3.62 41 2

.7

66 165.4

232.8

97.871.426.3

135.0

1,043 0

660 4

101 9277.2281.3

153 0146 4

105 038 366 7

41.440 9

5

6.65 11 5

.1

66 766 6

229.5

96.371.225.0

133.3

1 056 9

670 7

106 1278 5286 1

152 2150 9

106 338 767 6

44 543 9

7

13_ 21 6

4

68 568 2

233.6

97 970.127.8

135 7

1 078 1

680 5

106 1283 4290 9

158 8157 2

109 838 871 0

47.346 7

6

1.7gg

-2 1

63 065.1

240.9

100.771.928.7

140.2

1 109 1

696 1

111 0288 3296 7

168 1167 7

116 141 374 8

51.651 0

6

.413

—4.6

70 775.3

249.4

105.776.728.9

143.7

1 139 4

713 4

113 9297 2302 4

177 0172 0

119 242 077 2

52.852 1

6

5.04 3.7

-5.2

70.075.2

254.1

108.178.629.6

146 0

1 162 2

728 1

118 4301 4308 3

181 0175 3

121 141 679 4

54 253 4

3

5 75 3

4

—3 4

75 078 4

256.6

106 275 231 0

150 4

722 1

477 0

83 1207.0186.8

104 099.9

77 623 654 0

22.322 0

4

4.14 0

0

2.2

52 260.0

139.0

64 7

74.3

741 7

495 4

92 1211.1192.2

108 6105 9

76 822 854 0

29.128 7

4

2.61 61 i

.1

52 652.5

137.6

60.8

76.8

737 9

493 0

90 0211.2191.8

110 0104 7

76 423 053 3

28.328 0

4

6.34 01 3

—.7

63.053.8

135.7

59.7

76.0

742 5

497 4

94 2210 5192.8

107 3106 6

76 422 553 9

30.129 7

5

.7— 61 3

.1

54.454.3

137.6

61.0

76.7

754 5

503 2

95 4212 8195.0

112 0111.3

79 222 267.0

32.131 7

4

.7— i

.8

-1.8

49.951.7

141.1

62.3

78.8

766 5

511 0

98.6214.7197.7

116.6116.3

82.223.059.2

34.233.8

.4

.3-.1

.3

—3.3

65.558.9

142.2

62.8

79.4

783.9

520 9

100 7220 1200.0

122 0118 0

83 623 060 6

34.434 0

.4

3.93 4.5

-2.8

54.257.0

143.9

63.7

80.3

795.3

528 7

104 4221.7202.6

123.9119.4

84 422 561 9

35.034 5

5

4.54 2

3

-.8

57.758.5

143.6

61.6

81.9

Table 2.—-Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)

Gross national product

Final salesChange in business inventories

Goods output _

Final salesChange in business inventories .

Durable goods ...Final salesChange in business inventories

Nondurable goodsFinal sales _ _ _ •Change in business inventories

Services .

Structures..-

976.4

971 54 9

471.9

467 04.9

184 9183.0

1.9

287 0284 0

3 0

409 2

95 4

1,050.4

1 046 73 6

495.5

491 83.6

195 7194 6

1.1

299 8297 3

2 5

443 9

111 0

1,043.0

1 036 46 6

492.4

485 86.6

194 5191 0

3 6

297 9294 8

3 1

441 1

109 5

1,056.9

1 055 6' 1 3

497.5

496 21.3

196 7197 7—1 0

300 8298 5

2 3

446 7

112 7

1,078.1

1 076 41 7

504.8

503 11.7

198 2200 1—1 9

306 6303 0

3 5

456 3

117.0

1,109.1

1 108 64

517 6

517 2.4

209 2208 8

4

308 4308 4o467 3

124 2

1 139 4

1 134 45 0

537 1

532 15.0

217.6214.6

3.0

319.6317.5

2.1

477 3

125 0

1 162 2

1 156 65 7

548 7

543 15 7

222 2220 7

1 5

326 5322 4

4 1

487 5

126 0

722.1

718 04 1

385 8

381 74.1

160 0158 6

1 4

225 8223 2

2 6

272 5

63.8

741.7

739 12 6

393.8

391 22.6

164.5163.8

.6

229 4227. 3

2.0

278.4

69.5

737.9

732.65.3

391.0

385 75.3

162.8160.0

2.8

228.3225. 7

2.6

278.2

68.8

742.5

741.7.7

394.5

393.7.7

164.9166.0-1.1

229.5227.7

1.9

278.4

69.6

754.5

753.8.7

400.4

399.7.7

167.4169.5-2.1

233.0230.2

2.8

282.3

71.8

766.5

766.3.3

407.0

406.8.3

175.0174.8

.3

232.0232.0

.0

285.2

74.3

783.9

780.03.9

420.7

416.73.9

181.4179.1

2.3

239.2237.6

1.6

289.3

74.0

795.3

790.84.5

428.0

423.44.5

184.8183.6

1.2

243.2239.8

3.4

293.5

73.9

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)


Private

Business _NonfarmFarm .

Households and institutions

Eest of the world

General government -

976 4

861 8

826 3797 328 9

30 9

4 6

114 7

1 050 4

925 6

884 7853 930 9

33 9

6 9

124 8

1 043 0

919 3

878 7848 530 2

33 2

7 4

123 7

1 056 9

931 4

890 9859 631 2

34 3

6 2

125 5

1 078 1

950 2

906 6874 532 1

35 1

8 5

127 9

1 109 1

976 6

933 7901 831 9

36 0

6 8

132 5

1 139 4

1 005 0

960 8928.232.6

37.3

6.9

134 4

1 162 2

1 024 9

979 3946 333 0

38 5

7 1

137 3

722.1

661.3

640 7616 024 7

16 7

4 0

60 7

741.7

681.0

658 5633.025.5

16 9

5.6

60 7

737.9

677.5

654.8629.325.4

16.7

6.0

60.5

742.5

681.7

659.8633.925.9

16.9

5.0

60.8

754.5

693.7

669.8644.8,25.0

17.1

6.8

60.8

766.5

705.6

682.9659.223.8

17.4

5.4

60.9

783.9

723.0

700.1676. 423.8

17.7

5.2

60.9

795.3

733.7

710.4688.0

22.4

18.1

5.2

61.6

HISTORICAL STATISTICS

National income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965,Statistical Tables (available at $1 from Commerce Department Field Offices or the Superintendent of Documents; see addresses insidefront cover). Each July SURVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1972 issue hasdata for 1968-71. BEA will provide on request a reprint of final data for the years 1964-67. Prior July issues have final data as follows:1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970; 1967-68, July 1971.

9 Preliminary.


12 SUEVEY OF CUKKENT BUSINESS October 1972

1970 1971

1971

II III IV

1972

I II III *


Billions of doUars

Table 4. — Relation of Gross National Product, National Income,and Personal Income (1.9)


Less: Capital consumptionallowances

Equals: Net national product-

Less: Indirect business taxand nontax liability- _

Business transfer pay-ments

Statistical discrepancy ..

Plus: Subsidies less currentsurplus of govern-ment enterprises

Equals: National income

Less: Corporate profits andinventory valuationadjustment _ __

Contributions for socialinsurance

Wage accruals less dis-bursements _ _ _

Plus: Government transferpayments to persons-

Interest paid by gov-ernment (net) and byconsumers

DividendsBusiness transfer pay-

ments

Equals: Personal income

976.4

86.3

890.1

93.4

4.2-4.7

1.5

798.6

69.9

57.7

.0

75.2

31. 024.8

4.2

806.3

1,050.4

93.8

956.6

101.9

4.6-4.8

.9

855.7

78.6

65.3

.6

89. 0

31.125.4

4.6

861.4

1,043.0 ]

92.4

950.6

100.3

4.6-4.9

.8

851.4

80.1

64.8

.2

90.7

31.025.4

4.6

858.1

1,056.9

95.0

961.9

102. 6

4.7-5.9

.3

860.8

78.3

65.7

.6

90.3

31.125.5

4.7

867.9

1,078.1

97.4

980.7

105.6

4.7-5.2

.7

876.2

79.4

66.9

1.4

92.1

30.925.2

4.7

881.5

1,109.1

99.7

1,009.3

106.7

4.8-4.1

1.2

903.1

81.8

71.9

-1.4

94.4

30.926.0

4.8

907.0

1,139.4

105.3

1,034.1

108.7

4.9-.1

1.6

922.1

86.1

73.1

-.5

95.7

31.826.2

4.9

922.1

L, 162. 2

104.1

1,058.1

111. 1

5.0

1.9

74.4

-.2

97.8

31.726.5

5.0

939.5

Table 5. — Gross Auto Product in Current and Constant Dollars(1.15, 1.16)

Gross auto product 1 _ _ _ _

Personal consumptionexpenditures

Producers' durable equip-ment

Change in dealers' autoinventories

Net exportsExports _ _-Imports

Addenda:

New cars, domestic 2

New cars, foreign

Gross auto product l _ _ _ _

Personal consumptionexpenditures __•--

Producers' durable equip-ment

Change in dealers' autoin vp.n tories

N e t exports _ _ _ _ _ _ _ _ _ExportsImports

Addenda:

New cars, domestic 2

New cars, foreign

Billions of current dollars

30.7

28.0

4.9

-.9

-1.72.03.7

26.06.3

40.9

35.4

6.2

1.4

-2.52.55.1

35. 77.8

40.1

34.3

6.1

1.6

-2.32.64.9

34.18.3

42.4

37.1

6.5

1.2

-2.92.85.7

37. 97.7

38.8

35.9

6.3

-1.2

-2.82.25.0

34.07. 4

39.9

36.9

6.5

-.9

-3.02.75.7

34.48.5

41.5

38.2

6.7

-.6

-3.22.75.9

36.28.7

44.7

41.3

7.3

-.6

-3.83.16.9

39.89.2

BiUions of 1958 doUars

28.4

26.0

4.6

-.9

-1.71.93.6

24.76.0

36.4

31.4

5.6

1.3

-2.32.34.6

32.57.1

34.8

29. 7

5.3

1.5

-2.12.44.5

30.57.4

37.8

33.1

5.9

1.1

-2.62.65.2

34.57.0

35.8

33.1

5.9

-1.1

-2.52.04.6

31.96.9

35.6

32. 9

5.9

-.8

-2.72.45.0

31.47.8

37.0

33.9

6.1

-.6

-2.92.45.2

32.87.9

39.6

36.5

6.5

-.5

-3.32.86.1

35.88.4

1970 1971

1971

II III IV

1972

I II III"


Billion of dollars

Table 6.—National Income by Type of Income (1.10)

National income...

Compensation of employees

Wages and salaries :_ _.

PrivateMilitaryGovernment civilian

Supplements to wages and salaries __Employer contributions for social

insurance _.. __

Other labor income

Proprietor's income

Business and professional-Farm

Rental income of persons...

Corporate profits and inventory valua-tion adjustment _ _ _ _ _ .

Profits before tax

Profit tax liability _Profits after tax.

DividendsUndistributed profits _

Inventory valuation adjustment

Net interest

798.6

603 8

541.9

426.819.695.5

61.9

29.7

32.1

66 8

49.916 9

23.3

69.9

74.3

34.140.224.815.4

-4.4

34 8

855 7

644 1

573.5

449 719.4

104.4

70.7

34.1

36.5

70 0

52.617 3

24 5

78 6

83.3

37.345.925.420.5

-4. 7

38 5

851 4

639 6

569. 6

447 019 4

103 3

70.0

33.8

36 1

69 3

52 416 9

24 4

80 1

84.5

38.645.825 420.4

-4.4

38 1

860 8

648 0

576 5

451 618 8

106 0

71. 5

34.3

37 2

70 7

53. 117 6

24 8

78 3

84.1

37. 546.625.521.0

-5.8

39 1

876 2

660 4

587 3

460 919 4

107 0

73.0

35 0

38 0

71 g

53 818 1

25 0

79 4

83.2

35. 348.025 222.7

-3.9

39 7

903 1

682 7

606 6

475 820 8

110.0

76. 1

37.3

38 8

73 3

54 319 1

25 2

81 8

88.2

38.849.526 023.5

-6.5

40 1

922 1

697 8

620 0

487 120 5

112 4

77.8

38.0

39 g

73 2

54 418 7

24 2

86 1

91.6

40 151.526.225 3

-5.5

40 9

709 7

630 2

494 520 3

115 3

79.5

38 7

40 8

75 3

56 219 1

26 2

26 5

-6.1

41 7

Table 7.—National Income by Industry Division (1.11)

All industries, total

Agriculture, forestry, and fisheriesMining and constructionManufacturing _ _ _ _ _ _

Nondurable goodsDurable goods

Transportation _ _ _ _ _ _C oTnmunicationElectric, gas, and sanitary services. _ . .Wholesale a n d retail trade _ _ _ _ _ _

Finance, insurance, and real estate. _ _ _ServicesGovernment and government enter-

prisesRest of the world _ _ _ _

798.6

25.550.5

216.387.5

128.7

29.716.814.6

121. 2

90.0102.7

126.84.6

855.7

26.554.2

223.290.3

132.9

32.518.216.3

130.8

98.7110.6

137.96.9

851.4

25.953.9

223.190.0

133.1

32.618.216.4

130. 2

97.9109.4

136.57.4

860.8

26.754 4

222.390.7

131. 6

33.117.816.7

132.5

100. 2111.8

139. 26.2

876.2

27.455 7

226.891.7

135. 1

33 018. 816.4

133.7

100.8114.0

141.18.5

903.1

28.557 5

238 094.8

143.1

34.819.716.6

135. 8

102.3117.1

145.96.8

922 1

28.257 3

245.696.3

149.3

35.020.517.9

138. 8

103.6120.2

148.16.9

_ . _ _ . _

Table 8.—Corporate Profits (Before Tax) and Inventory ValuationAdjustment by Broad Industry Groups (6.12)

All industries, total

Financial institutions. ~ .

Federal Reserve banksOther financial institutions

Nonfinancial corporations _ _ _ -

Manufacturing _ _ _ __Nondurable goods - .Durable goods _ _

Transportation, communication,and public utilities

All other industries

69.9

14.5

3.610.9

55.4

27.716.711.0

7.620.1

78.6

16.7

3.313.3

61.9

30.916.814.1

8.222.9

80.1

16.4

3.213.2

63.7

31.216.814.4

8.823.7

78.3

17.0

3.413.6

61.3

30.116.913.3

8.522.6

79.4

16.6

3.313.3

62.7

31.216.914.3

7.623.9

81.8

16.5

3.413.2

65.2

35.417.717.7

7.822.0

86.1

17.5

3.314.2

68.5

37.017.619.4

8.822.8

— —

1. The gross auto product total includes government purchases.2. Differs from the gross auto product total by the markup on both used cars and foreign

cars.'Preliminary.


October 1972 SUBVEY OF CURKENT BUSINESS 13

1970 1971

1971 1972

II III IV II III«


Billions of dollars

Table 9.—Gross Corporate Product 1 (1.14)

Gross corporate product .

Capital consumption allowancesIndirect business taxes plus transfer

payments less subsidies

Income originating in corporate busi-ness ---

Compensation of employeesWages and salariesSupplements _ _ __

Net interest

Corporate profits and inventoryvaluation adjustment

Profits before taxProfits tax liability .. _ __Profits after tax... __..... ..

DividendsUndistributed profits

Inventory valuation adjustment- .

Cash flow, gross of dividendsCash flow, net of dividends....

Gross product originating infinancial institutions . _ . . :

Gross product originating innonfi nancial corporations.


payments less subsidies.

Income originating in nonfinancialcorporations

Compensation of employeesWages and salaries --

Supplements

Net interest

Corporate profits and inventoryvaluation adjustment

Profits before tax__._ ..Profits tax liability.. . _Profits after tax

Dividends _ _ . . 'Undistributed profits ..

Inventory valuation adjustment. _

Cash flow, gross of dividends . . .Cash flow, net of dividends _..

Gross product originating innonfinancial corporations. - - . _ _

Current dollar cost per unit of1958 dollar gross productoriginating in nonfinancialcorporations 2


payments less subsidies • _Compensation of employees. . . _ _ _ :Net interest

Corporate profits and inventory valu-ation adjustment---.

Profits tax liability.Profits after tax plus inven-

tory valuation adjustment. .

544.4

55.2

•52.8

436.5

368. 8325.543.2

2.6

65.269.634.135.422.413.0

-4.4

90.668. 2

28.3

516. 1

53.2

50.3

412. 6

346.9306.540.4

15.0

50.755.126.928.219.98.3

-4.4

81.461. 5

580.3

60.3

56.9

463.1

388.8340.248. 6

1.5

72.877.437.340.122.217.9

—4.7

100.478.2

30.9

549.4

58.0

54.3

437.2

365.0319.645.3

16.1

56.160.829.431.319.511.9

-4.7

89.369.8

577. 6

59.4

56.0

462.2

386.8338.648.3

1.6

73.878.138.639.521.917.7

-4.4

98.977.0

30.7

546.9

57.1

53.4

436,3

363. 0318.045.0

16.0

57.461.730.830.919.211.7

-4.4

88.068.8

583.4

61.2

57.2

465.0

390.4341.249.1

1.3

73.379.137.541.622.818.8

—5.8

102. 880.0

31.2

552.2

58.8

54.6

438.8

366 2320.445.8

16.3

56.362.129.532.620.012.6

-5.8

91.571.4

593.5

63.0

58.9

471.6

398.2348.150.1

1.2

72.276.135.340.821 119.7

—3.9

103.882.7

30.9

562.6

60.5

56. 2

445.9

373.8327.146.7

16.6

55.659.427.432.018.613.5

-3.9

92.573.9

613.7

64.8

59.2

489.8

412.2359.752.5

1.1

76.582.938.844.223.021.2

—6.5

109.085.9

31.4

582.4

62.1

56. 5

463.8

387.0338.048.9

16.8

59.966.431.135.420.315.1

-6.5

97.577.2

631. 9

68.0

60.2

503.7

422.4368.653.8

1.0

80.385.940.145.823.022.8

—5.5

113.890.8

32.6

599.3

65.2

57.4

476.6

396.7346.550.2

17.1

62.868.432.136.320.316.0

—5.5

101.581.3

68.4

61.5

428.9374.0

54.8

1.0

~-6." I

65.5

58.7

402.7351.551.2

17.4

-6.1

Billions of 1958 dollars

427. 4 438.8 436.8 438.9 447.3 459.6 471. 7

Dollars

1.208

. 124

118.812.035

.119

.063

.056

1.252

.132

124.832.037

128.067

.061

1.252

.131

122.831.037

131.071

.061

1.258

.134

124.834.037

128.067

.061

1. 258

.135

126.836. 037

124.061

.063

1. 267

.135

123.842.037

130.068

. 063

1.271

.138

.122

.841

.036

.133

.068

.065

1. Excludes gross product originating in the rest of the world.2. This is equal to the deflator for gross product of nonfinancial corporations, with the

decimal point shifted two places to the left.3. Personal saving as a percentage of disposable personal income.v Preliminary.

1970 1971

1971

II III IV

1972

I II III*


Billions of dollars

Table 10.—Personal Income and its Disposition (2.1)

Personal incomeWage and salary disbursements.

Commodity-producing industries ._Manufacturing.

Distributive industriesService industriesGovernment

Other labor incomeProprietors' income

Business and professionalFarm. _ .

Rental income of persons ..Dividends—....... .....Personal interest incomeTransfer payments ._ _

Old-age, survivors, disability, andhealth insurance benefits

State unemployment insurancebenefits

Veterans benefits .Other

Less: Personal contributions forsocial insurance _

Less: Personal tax and nontax pay-ments

Equals: Disposable personal income. . .êss: Personal outlays

Personal consumption expenditures-Interest paidby consumers .Personal transfer payments to for-

eignersEquals:PersonaI saving

Addenda:Disposable personal income :

Total, billions of 1958 dollarsPer capita current dollarsPer capita 1958 dollars .

Personal saving rate.3 percent.

806 3541. 9201.0158.3129. 296 7

115 132 166 849 916.923.324.865.879.5

38.5

3 99.7

27 4

28.0

116 7

689.5634.7616.816.9

1 054.9

533.23,3662,603

8.0

861 4572.9206. 1160 3138.2105 0123 536 570 052 617.324 525.469.693.6

44.5

5 711.332 2

31.2

117 0744.4683 4664.917. 6

1 060.9

554.73, 5952,679

8.2

858 1569.5205.7160.2137.2103 9122 736 169 352 416 924.425.469.195.2

46.7

5 711 231 6

31.0

115 2742.9678.8660.417.5

.964.1

554.63 5922,682

8.6

867 9575.9206.0160 0139. 1106 3124 637 270 753 117 624 825.570.295.0

45 0

5 911 332 8

31.3

117 5750.4689 4670.717.6

1 i

61.0

556.53 6202,684

8.1

881 5585.9209. 9162 7141.7108 4125 938 071 853 818 125 025.270.696.8

45 7

6 211 633 3

31.9

123 0758.5699 2680.517.7

1159.3

560.93 6492,698

7.8

907 0608.0217.5168 8147 2111 9131 438 873 354 319 i

25 226.071.099.2

46 8

5 411 935 1

34.6

136 5770.5714 9696.117. 8

1.055.7

565. 73 7002,716

7.2

922 1620.5222.6174 1150 1114 7133 139 873 254 418 724 226 272 7

100 6

48 1

5 612 334 6

35.1

139 5782.6732 5713.418.0

1 150.1

571.43 7512 739

6.4

939 5630.4224.9176 5152 3117 5135 740 875 356 219 126 226 573.4

102.7

48.8

5.812.635.6

35.7

140.8798.7747.4728.118.2

1.151.3

579.93 8212,774

6.4

Table 11.—Personal Consumption Expenditures by Major Type (2.3)

Personal consumption expendi-tures

Durable goods .

Automobiles and partsMobile homes. _. . ..

Furniture and household equip-ment

Other

Nondurable goods. ..

Food and beveragesClothing a n d shoes.. _ _ _ _ _ _ _ _ _ _Gasoline and oilOther _

Services _ _

Housing _Household operationTransportationOther _. _

616.8

90.5

37.32.5

39.014.2

264.4

132.152.022.258.1

261.8

90.936.318.2

116.3

664. 9

103. 5

46.73.3

42.014.8

278. 1

136.456.923.561.3

283.3

99.239.519.9

124.8

660.4

101.9

45.43.3

41.415.0

277.2

135.956.723.061.6

281.3

98.139.119.8

124.3

670.7

106.1

48.83.6

41.915. 5

278.5

136.657.423.560.9

286.1

100.340.020.2

125.7

680. 5

106.1

47.93.5

43.514.7

283.4

137.958.524.362.8

290.9

102. 540.720.4

127.3

696. 1

111.0

49.93.9

46.514.7

288.3

140.359. 424.664.0

296.7

104.241.221.0

130.3

713.4

113. 9

51.34.1

46.815.7

297. 2

144.161.524.567.1

302.4

106.142.721.5

132.0

728.1

118.4

54.73.8

48.015.7

301.4

145.662.325.767.8

308.3

108.243.921.9

134.3

Table 12.—Foreign Transactions in the National Income andProduct Accounts (4.1)

Receipts from foreigners. _ _ _ _••_ ._

Exports of goods and servicesCapital grants received by the United

States. _ _

Payments to foreigners

Imports of goods and services.

Transfers to foreignersPersonalGovernment. __. ._

Net foreign investment

63.7

62.9

.9

63.7

59.3

3.21.02.2

1.2

66.9

66.1

.7

66. 9

65.4

3.61.02.6

—2.1

67.4

66.7

.7

67.4

66.6

3.4.9

2.5

—2.5

69.2

68.5

.7

69.2

68.2

3.81.12.7

—2.7

63.7

63.0

.7

63.7

65.1

4.01.12.9

—5.4

71.5

70.7

.7

71.5

75.3

3.81.02.8

—7.7

70.7

70.0

.7

70.7

75.2

3.81.12.8

-8.3

75.7

75.0

.7

75.7

78.4

4.01.12.9

-6.7

478-721 O - 7 2 - 2


14 SUEVEY OF CURRENT BUSINESS October 1972

1970 1971

1971

II III IV

1972

I II in*


Billions of dollars

1970 1971

1971

II III IV I

1972

II III *

Seasonally adjusted

Index numbers, 1958=100

Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2) TaWe 16.—Implicit Price Deflators for Gross National Product (8.1)

Federal Government receipts

Personal tax and nontax receiptsCorporate profits tax accrualsIndirect business tax and nontax

accruals ._.Contributions for social insurance ...

Federal Government expenditures

Purchases of goods and services

Other.

Transfer payments.To personsTo foreigners (net) _

Grants-in-aid to State and local gov-ernments

Net interest paid

Subsidies less current surplus of gov-ernment enterprises

Less: Wage accruals less disburse-ments

Surplus or deficit (— ), national in-come and product accounts

Table 14. — State and Local G

State and local government receipts

Personal tax and nontax receipts ....Corporate profits tax accruals.Indirect business tax and nontax

accrualsContributions for social insurance. . .Federal grants-in-aid

State and local government expendi-tures _

Purchases of goods and servicesTransfer payments to personsNet interest paid _ _Less: Current surplus of government

enterprises _.Less: Wage accruals less disburse-

Surplus or deficit (— ), national in-come and product accounts

191.6

'92. 430.4

19.349.5

204.5

96.575.121.5

63.361.12.2

24.5

14.6

5.5

.0

-12.9

199.1

89.633.1

20.555.9

220.8

97.871.426.3

75.072.42.6

29.3

13.6

5.2

.0

-21.7

198.2

88.134.4

20.255.6

221.2

96.371.225.0

76.874.32.5

29.5

13.6

5.1

0.

-23.0

199.1

89.833.2

20.056.1

222.2

97.970.127.8

76.373.62.7

29.8

13.6

4.6

.0

-23.1

202.8

93.831.1

20.857.0

227.5

100.771.928.7

77.874.92.9

30.8

13.3

5,0

.1

-24.7

221.4

105.834.0

19.961.7

236.3

105.776.728.9

79.476.62.8

32.4

13.1

5.6

.0

-14.8

224.9

107.335.2

19.762.6

246.5

108.178.629.6

80.477.62.8

38.1

13.8

6.0

-.1

-21.6

overnment Receipts and Expendit(3.3, 3.4)

135.0

24.33.8

74.18.3

24.5

132.1

122.514.1-.5

4.0

.0

2.8

151.8

27.44.2

81.49.4

29.3

147.0

135.016.6-.1

4.3

.2

4.8

150.1

27.14.3

80.19.2

29.5

145.2

133.316.3-.1

4.3

.0

5.0

154.0

27.74.3

82.69.5

29.8

147.8

135.716.7-.1

4.3

.3

6.2

158.7

29. 24.1

84.89.8

30.8

152.7

140.217.2-.1

4.3

.4

6.0

164.8

30.64.7

86.810.232.4

157.7

143.717.8

.0

4.4

— . 6

7.1

174. 6

32.14.9

89.010.538.1

159.9

146.018.1

.0

4.4

— . 1

14.8

Table 15.— Sources and Uses of Gross Saving (5.1)

Gross private saving

Personal savingUndistributed corporate profits.- .Corporate inventory valuation ad-

justmentCorporate capital consumption

allowancesNoncorporate capital consumption

allowancesWage accruals less disbursements __

national income and productaccounts

FederalState and local

Capital grants received by the UnitedStates

Gross investment . _. .

Gross private domestic investment..Net foreign investment

Statistical discrepancy

152.2

54.915.4

-4.4

55.2

31.2.0

-10.1

-12.92.8

.9

138.3

137.11.2

-4.7

170.8

60.920.5

-4.7

60.3

33.5.4

-16.9

-21.74.8

.7

149.8

152.0-2.1

-4.8

172.8

64.120.4

-4.4

59.4

33.1.2

-18.0

-23.05.0

.7

150.5

153.0-2.5

-4.9

171.5

61.021.0

-5.8

61.2

33.8• 3

-16.9

-23.16.2

.7

149.5

152.2-2.7

-5.9

176.5

59.322.7

-3.9

63.0

34.4.9

-18.7

-24.76.0

.7

153.4

158.8-5.4

-5.2

171.6

55.723.5

-6.5

64.8

34.9-.8

-7.7

-14.87.1

.7

160.5

168.1-7.7

-4.1

174.9

50.125.3

-5.5

68.0

37.3-.3

-6.9

-21.614.8

.7

168.7

177.0-8.3

-.1

108. 9 Personal consumption expenditures _ _ _

Durable goods63-7 Services

243. 1 Gross private domestic investmentl™-% Fixed investment

31.0 "WrmrasirloTTHnl

82-4 Structures7£ * Producers' durable equipment. .

Residential structuresNonfarm

• Farm

• Change in business inventories

„ . Net exports of goods and services

ExportsImports

Government purchases of goods andservices .

FederalState and local

Uf^-ie

Table 17.— Implicit Price DeMajor Ty

31. 9 Gross national productFinal sales

91. 0 Goods outout10.734. 6 Durable goods

Nondurable goods . ...

164. 2 Services

150. 4 Structures18.3— . 1 Addendum:

4 4 Gross auto product

Table 18.— Implicit Price DeS


Private

BusinessNonfarm

51 3 Farm

Households and institutions-6.1

General government - -fi8 4

135.23

129.3

108.9127.7140.1

132.2

130.0

152.7120.1

140.0140.0134.9

120.5118.6

157.6

149.2165.0

141. 61

134.2

112.4131.7147.4

140.0

137.7

168.4124.7

146.3146.3140.9

125.8124.5

169.1

160.8175.7

141.34

134.0

113.2131.3146.7

139.8

137.5

166.3125.0

146.0146.1140.5

125.8123.8

169.2

161.3175.4

142.35

134.8

112.7132.3148.4

141.6

139.1

171.9125.4

147.8147.9142.7

125.9125.4

169.7

160.5177.1

142.88

135.2

111.3.133.2149.2

141.2

138.6

174.9124.5

147. 5147.6141.7

126.3126. 0

170.7

161.5178.0

144.68

136.2

112.6134.2150.1

144.2

141.3

179.3126.5

151.0151. 1145.6

127.4128.0

175.4

168. 2181.0

145.34

137.0

113.0135.0151.2

145. 8

142.6

182.7127.4

153.3153.4147.3

129. 1131.9

176.6

169.9181.9

146. 14

137.7

113.4136.0152.2

146.8

143.5

185.3128.3

155.0155.1148.8

130.1134.0

178.7

172.3183.5

flators for Gross National Product bype of Product (8.2)

135.23135.3

122.3

115.6127.1

150.1

149.7

108.1

141.61141.6

125.8

119.0130.7

159.4

159.9

112.5

141.34141.5

125.9

119.5130.5

158.6

159.2

115.2

142.35142.3

126.1

119.3131.1

160.4

162.0

112.1

142.88142.8

126.1

118. 4131.6

161.6

162.9

108.3

144.68144.7

127.2

119.5132. 9

163.8

167.1

112.1

145.34145.4

127.7

119.9133.6

165.0

168.8

112. 3

146. 14146.3

128.2

120. 3134.2

166.1

170.6

113.0

flators for Gross National Product byector(8.4)

135.23

130.31

129.0129. 4117.0

185.5

188.8

141.61

135.91

134.3134.9120.8

200.7

205.7

141.34

135.69

134.2134.8118.8

204.6

142.35

136.63

135.0135.6120.6

206.4

142.88

136.98

135.3135.6128.1

210.1

144.68

138.40

136.7136.8134.1

217.5

145.34

139. 00

137.2137.2137.2

220.7

146. 14

139. 69

137.9137. 5147.7

223.0

35.8 Table 19.— Gross National Product: Change from Preceding-1 Period (7.7)

Gross national product:Current dollars. _ .Constant dollars ... _

7 Implicit price deflatorChain price index

174. 2Gross private product:

181 0 Current dollars6 7 Constant dollars

Implicit price deflator _ .Chain price index

Percent

5.0-.55.55.3

4.3

4! 84.7

7.62.74.75.0

7.43.04.34.5

Percent at annual rate

7.93.44.44.6

8.23.74.34.4

5.42.52.93.4

5.42.52.83.4

8.36.71.52.1

* 8.37.21.01.4

12.06.55.15.6

11.67.14.24.4

11.49.41.82.7

12.110.21.72.3

8.35.92.22.9

8.26.02.02.7

» Preliminary.


October 1972 SURVEY OF CUEEENT BUSINESS 15

Second Quarter Developmentsin Regional and State Income

Personal income rose from the first tosecond quarter of 1972 in all eightregions and in 37 of the States. Incomedeclined in six States and in the Dis-trict of Columbia and was little changedin seven others. The income gain in sixof the eight regions and in 35 of theStates was larger than the nationaladvance of about three-fourths of apercent in consumer prices. However,in 13 States and the District of Colum-bia, income rose less than consumerprices, and in two regions (RockyMountain and Mideast) and in twoStates, the advance was about in linewith that in prices.

Nationally, personal income rose 1%percent from first quarter to the second.Gains well above the national averagewere registered in the Great Lakes andPlains; the gain in New England was alittle above average. The advance was alittle below the national average in theSouthwest, Far West, and Southeast,and well below average in the Mideastand Rocky Mountain regions. Amongthe States, second quarter incomechanges ranged between an increase of7 percent in South Dakota and a declineof 2 percent in Mississippi.

Income effects of TropicalStorm Agnes

Changes in rent and nonfarm pro-prietors7 income were unusually impor-tant factors in some of the States in thesecond quarter as a result of the lossesincurred in the June floods in the North-east. The floods were caused by TropicalStorm Agnes late in the month. Theirmajor impact on income resulted fromlosses to owners of houses and to pro-prietors owning plant and equipmentand inventories. The write-offs of theselosses in the month of June are currentlyestimated by the Bureau of EconomicAnalysis at about $550 million, orabout $2% billion at an annual rate forthe quarter. The estimated amount oflosses cut $% billion from proprietors'income and $1% billion from rentalincome in the quarter when calculatedat annual rates.

These losses were all written off inJune and so are directly reflected in thepersonal income figures for the secondquarter. If it were not for disaster losses,personal income in the Nation wouldhave increased 2 percent rather than\% percent. Regionally, the effect of thefloods on personal income was heavily

Direct State Income Effects of Tropical Storm Agnes

United States

Mideast - „PennsylvaniaNew York _.Maryland

Southeast— . . ...VirginiaWest Virginia

Total personal income

1—1972 II— 1972

Flood lossesII— 1972

Totalpersonalincome

excludingflood losses

II— 1972

Billions of dollars, seasonally adjusted at annual rates

903.4

210.251.794.819.6

162.719.86.2

918.6

211.951.296.419.5

165.020.06.2

2.3

2.21.6.5

(*)

.1

.1(*)

920.8

214.152.896.919.5

165.020.16.2

Percent changeI— 1972-11—1972

With flood Withoutflood

Percent

1.7

.8-1.0

1.6-.7

1.41.2

-.2

1.9

1.82.22.2-.6

1.51.5-.1

concentrated in the Mideast, particu-larly in Pennsylvania, New York, andMaryland. The floods also had someimpact on income in the Southeast,mainly Virginia and West Virginia, butlosses were much smaller than in theMideast region.

Key role of three income components

Most differentials between area (re-gional and State) and national changesin total persona] income in the secondquarter are traceable primarily to de-velopments in three income compo-nents—manufacturing payrolls (mainlydurable goods payrolls), farm income,and rent. The key role played by thesethree components in explaining incomegrowth differentials in the second

CHART 7

Personal Income Advanced in All Regionsin the Second Quarter

® Regions with gains above the national averagePercent Change, I - II 1972

0

CHGreat Lakes

Plains

New England

® United States average

UNITED STATES

Regions with gains below the national average

* Less than $50 million.Source: U.S. Department of Commerce, Bureau of Economic Analysis.

Far West

Southwest

Southeast

Mideast

Rocky Mountain


NOTE.—The quarterly estimates of Statepersonal income were prepared in the Re-gional Economics Division by Steven E.Johnson under the supervision of Q. FrancisDallavalle.


16 SUEVEY OF CURRENT BUSINESS October 1972

quarter is shown in table A. Com-parison of these aggregates reveals thecombined effect of the percent changein a component and its importance inan area's income structure. In manyregions and States, the area-Nationdifferential is cut by 40 percent or morewhen one of these components isomitted.

Strong increases in manufacturingpayrolls, especially durable goods pay-rolls, directly accounted for about half

the difference between the U.S. gainin personal income and that in theGreat Lakes region—the fastest grow-ing of the eight regions. Wage andsalary disbursements by durables manu-facturers in the Great Lakes region—largely reflecting the strong secondquarter growth of output of autos andprimary metals—rose by more than&}{ percent (compared with a nation-wide advance of 3% percent). Above-average income gains in this region

Table A.—Percent Change in Total Personal Income and Income Excluding SelectedComponents, I—1972-11—1972

Rank

123

456

78

123456789

1011121314151617181920212223242526272829303132333435

36373839404142434445464748495051

United States

Regions

Great Lakes _ -PlainsNew England .

Far WestSouthwestSoutheast -

MideastRocky Mountain

States

South Dakota ..-Nebraska. _ __ .OklahomaNew Mexico.KansasWisconsinNew HampshireFlorida. -Michigan .

HawaiiNevadaIndiana..WashingtonTennessee.IllinoisM assachusettsIowaOhio...Vermont... .GeorgiaNorth C arolinaMinnesota _ ._New JerseyMontana. _Arizona-DelawareNew YorkConnecticut.California-Virginia .MissouriIdaho..Arkansas _ _ _ _Kentucky ...Rhode Island

Oregon.ColoradoTexasMaine..UtahSouth CarolinaWyoming.. _West VirginiaLouisiana.. _ _ _ _ _ _ _ _ _AlabamaDist. of ColumbiaMarylandNorth Dakota _Pennsylvania _ _ _Alaska ...Mississippi. _ - _ - - _ _ • _ _ _ . _ _

Totalpersonalincome

1.7

2 92.42.0

1 51 41.4

87

7.34.64.43.73 73 73.73.50 q

2.92.92.92.82.82 82.52 42.22.22 12.12.12.12.01.91.61.61.61.31.21.21.11.01.01.0

.7

.6

.5

.5

.3

.3

.0—.2-.4-.6-.6-.7-.9

-1.0-1.2-2.1

Total personalincome, excl.

manufacturingwage and salary

1 3

1 82 221

1 31 41 4

58

7 54.54.73.83 32 83.53.42. 1

3.12.92.42.02.41 i2.51 91.82.12.42.42.32.32.52.0.0

1.51.51.2.9.7

1.0.8.9

2.3

.6

.5

.3

.4

.6

.3—.1-.1-.8-.4-.7-.9-.9

-1.8-1.5-2.7

Total personalincome, excl.farm income

1.8

2 92 21.9

1 41 71.9

721

.12.3.4

1.02 63.03.53.83.1

2. 62.42.93.03.03.42.43.02.21.62.61.91.42.1.0

1.91.11.51.51.11.02.61.51.7.8

1.0

1.43.62.0-.3

.11.91.6-.5-.11.1-.6

-1.0-.1

-1.1-1.2

1.3


rent

1 8

2 92 52.0

1 51 41.5

1 47

7.74.84.63.83 83.83. 83.63.3

3.02.93.02,92.82.82.52.42.22.22.22.12.12.12.01.91.62.11.61.31.41.21.1.9

1.01.0

.7

.5

.5

.5

.3

.2-.1-.1-.5-.7-.7-.6

-1.0.6

-1.2-2.2


manufacturing ,farm, and rent

1 6

1 92 01 9

I i172 0

1 22 4

32 0. l

1.02 01 83 33.71.9

2 82.52.32.32.71.92.42.61.81.33.02.11.62.4.2

2.0-.82.01.4.9

1.02.51.51.8.6

2.3

1.54. 02.0-.6

.42.51.7.4.5

1.9-.7

-1.1.2.1

1.61.5

NOTE.—Percentages are based on seasonally adjusted unrounded data.

were also registered in a wide varietyof other industries. In particular, in-come growth was strong in the con-struction, the transportation—com-munications—public utilities group,and the service industries.

In the Plains and New England—theother two regions where the totalincome gain was above the nationalaverage—farm income accounted forhalf of the differential between the areaincome growth and the average forthe U.S. as a whole. In New Englandthe strong growth in farm income wasaccompanied by a sharp jump inFederal payrolls. In the Plains, incomegrowth also reflected a sharp increasein nonfarm proprietors' income and anabove-average gain in manufacturingpayrolls.

At the other end of the scale, personalincome was up only moderately in theMideast and the Rocky Mountainregions. Again, farming and manufac-turing played key roles. In both regionsthe change in manufacturing payrollswas well under the nationwide advance,reflecting weakness in both durable andnondurable goods payrolls. In addition,there was a sharp decline in farm incomein the Rocky Mountain region, whichaccounted for more than half of thedifference between the area and the U.S.gain. Mining and construction wage andsalary payments were also off in theregion and there was little change inthe transportation-—communications—public utilities group. In the Mideast,manufacturing payrolls were weak,construction payrolls declined moder-ately, and rent was off sharply becauseof the floods.

State income

In 24 States the income changediffered substantially from that in theNation (See table A). Nine of theseregistered gains in the second quarterthat ranged between T}{ and 3K percent.In descending order, these were: SouthDakota, Nebraska, Oklahoma, NewMexico, Kansas, Wisconsin, NewHampshire, Florida, and Michigan. Inall except Florida there were very largegains in farm income which, in most

(Continued on page 23)


October 1972 SUEVEY OF CURRENT BUSINESS 17

Table B,—Total Personal Income, by States and Regions

[Millions of dollars, seasonally adjusted at annual rates]

State and region

United States

New England

Maine . ...New Hampshire .VermontMassachusettsRhode Island ....C onnecticut

Mideast

New YorkNew Jersey. _Pennsylvania _...._.DelawareMaryland .District of Columbia. _..

.if eat Lakes

Michigan . _.Ohio .IndianaIllinois .Wisconsin. • _ . _ _ _

Plains . . .

MinnesotaIowa. .Missouri.. . . . - . -North Dakota , ...South DakotaNebraskaKansas .

Southeast

Virginia.. _ _ _ _ _ _ _West Virginia. .... _- .KentuckyTennessee . _North Carolina _South Carolina.GeorgiaFlorida . .AlabamaMississippi.. ._. _ • _LouisianaArkansas

Southwest ... __

OklahomaTexas.-..-. _ ... .New Mexico _ _ _ ' _ . _ _ ....Arizona

Rocky Mountain.... _

Montana. .Idaho. -.-. . .WyomingColoradoUtah.. _

Far West

WashingtonOregon .NevadaCalifornia -

Alaska. _Hawaii _ _

Addenda:

New England-Middle Atlantic _East North CentralWest North Central .South Atlantic. __East South Central-West South Central. . _MountainPacific

1969

I

722,225

45,608

2,9062,3961,370

22, 1703,344

13, 422

170,403

78, 62129, 17042,0512,213

14, 7273, 621

153,235

34, 76839, 14818,49945, 99514, 825

55,024

13,1109,593

15, 7761,7561,9545,0817,754

125,047

14, 8844, 6208, 982

10, 95014, 4866,698

13,79321, 5148,8465,299

10, 0414,934

50,980

7,37635,2802,8185,506

15,709

2, 1282,0981,0817,3903,012

102, 158

12,7537,0031, 924

80, 478

1,1732,888

II

738, 942

46,652

2, 9642,4501,408

22, 7003,448

13, 682

174,377

80,22730, 06742, 9102, 200

15,2753,698

156,329

35,27840,02018, 94046, 88215, 209

55,865

13, 2499, 874

15, 8321,9201,9365,1947, 860

127,846

15,3424, 7519, 111

11, 08714, 9086,890

14, 18622, 1179,0805,146

10, 3314,897

52, 792

7,75536, 5012,8645,672

16,073

2,1102,1221, 1047,6413,096

104,812

12, 9267,2252, 020

82, 641

1,2352,961

III

754,911

47,607

3,0092,5001,448

23, 2403, 468

13, 942

177,891

81, 69430, 76343, 7072,307

15, 6703, 750

159,240

36, 08440,82519,26847, 57815, 485

57,545

13, 6589,841

16,3721,8181,9905,3448, 522

131, 197

15, 5924,8149, 353

11, 37015, 4097,152

14, 51822, 9649, 2505,232

10, 4675,076

54, 064

8,15637, 1222, 9765,810

16,383

2, 2912,1631, 1207,6663,143

106, 615

13,3367, 4542,085

83,740

1,2643,105

IV

769,712

48,476

3,0662,5541,479

23, 5953,553

14, 229

181,702

83, 14631, 69244,5352,362

16, 0773,890

162,588

36, 99741,70219, 73248,47815,679

58,976

14,01910, 32016, 5781,9722,1015,5698, 417

133,468

16,0284,9349,409

,-11,51915,3417,199

14, 89323, 5719,4765,372

10,6185,108

54,878

8, 02237, 8102, 9746,072

16, 627

2,2712, 2071, 1427,7933,214

108,446

13, 4587,4212, 158

85, 409

1,3273,224

1970

I

781, 120

49,250

3,1422,6291,501

24, 0683,611

14, 299

184,059

84, 26031,66745, 5412,330

16,2823, 979

162,460

36,02141, 74619,37349, 25716, 063

60,344

14, 41810, 71417, 1561,8672, 1045,5468, 539

136,525

16, 4285,1069, 574

11, 74315,9787,434

15, 05024, 0359, 7575,505

10,7635, 152

56,345

8,09738, 9023,0696,277

17,572

2,3342,2921,2308,3763,340

109,875

13, 3187, 6612,196

86, 700

1, 3743,316

II

801,080

50,479

3,2402,6861,535

24, 6813,711

14, 626

189,058

86,25432, 72246, 5072,402

16, 9764, 197

164,919

37, 20042, 33019,69249, 30216, 395

61,333

14, 73610, 74417, 3451, 8722,2165, 6668,754

140,729

16,9675, 2329,888

12, 02216, 3327,592

15,40825, 0359, 9315,738

11,0695,515

58, 953

8,60640,7023,1966, 449

17,745

2,4192, 3081,2108,3973, 411

112,944

13,6517,7872,244

89, 262

1,4383,482

III

808,635

51,076

3,2312,7001,553

25, 0593,767

14, 766

191,462

87, 35033,49647, 0872,391

17, 0084, 130

167, 105

37, 27042, 96219, 91850, 34516,610

61,503

14, 82210,47917, 5351,8872,0925,6988,990

142,296

17,1785,322

10, 19212, 13416,5647,648

15, 27925, 3199, 9375,834

11, 2315,658

58,961

8,76340, 4243, 2336,541

18,116

2, 4132,3621,2168, 6673,458

113,225

13,7137,9162,223

89, 373

1,3773,514

IV

815, 137

51,464

3,2902, 7301,576

25, 1923,814

14, 862

192,569

87,70033,83547, 1822,453

17, 2404, 159

167,215

36, 64842, 96519, 90350, 93916, 760

61,758

14, 95410, 51617, 6721,9622,0185,6888,948

145,236

17, 3715,526

10,30412, 46516,6627, 782

15,99925, 91810,0775,942

11, 4505,740

59,555

8,81540,823

3,2376,680

18,301

2,4352,3981,2538,6533,562

114,055

13, 7247,9002,313

90, 118

1,4063,578

1971

I

833,668

52,168

3,3262,7651,608

25, 6163, 839

15, 014

197,063

89, 70834,35648, 1592,544

17, 9104,386

171,216

38,65743, 48720, 44751, 79416, 831

63,559

15, 11410, 78418, 2742,1592,2345,8459,149

148,482

17,7825,650

10, 55212, 72917, 1037,995

16, 19126,29810, 4386,232

11, 7295,783

60,813

8,79441, 7623,3446,913

19,079

2,5172,4121, 3329,1433,675

116, 053

13, 8958,2022,364

91, 592

1,5433,692

II

853,767

53,293

3,3842,8461,639

26, 2023,922

15,300

200,770

91,83434, 93049, 123

2, 58817, 8924,403

176,311

39, 76144, 87421, 07153,18117,424

65,067

15,53211, 27818,5152,3242,3116,0459,062

152,293

18,3165,829

10,71213, 20017, 4928, 237

16, 68427, 34110,6196,075

11, 8925,896

62,350

9,20742, 542

3, 4347,167

19, 492

2,5602,4961,3049, 4083,724

118,963

14, 2078,3972, 454

93, 905

1,5183, 710

III

863,697

54,152

3,4412,9281,666

26, 6284,010

15, 479

203,427

92, 55335,89449,7122, 604

18, 2084,456

177,164

39, 88045,00221,13053, 47217,680

65,849

15, 78011, 09418, 5722,1182,3926,1839,710

155,315

18,6635,905

10,94913,22517,9448,392

16,95427, 82810, 9256,310

12, 1106,110

62, 715

9,19142, 6313,5057,388

19,741

2,5692, 5401,3329,5343,766

120, 176

14, 3468,5662,486

94, 778

1,4963,662

IV

877,210

54,413

3,5152,9691,688

26, 6924,055

15,494

204,275

92, 87235, 40250,402

2, 70518,4654,429

182,105

41,10345, 97021, 83355, 15118, 048

66,809

15, 83211, 19918,9892,2862, 3476,2369,920

158,264

18,8415,773

11,11013,57918, 1048,471

17,31428, 97611,0786,474

12,3126,232

63,947

9,36643, 3933,5087, 680

20,260

2,6542,5981,3589,7433,907

121,881

14,4368, 7162,535

96, 194

1, 5443, 712

1972

I

903,443

55,831

3,6082,9821,729

27, 3024,135

16, 075

210,219

94,82236, 66551, 7082, 679

19, 6024, 743

185,102

41, 85246, 79822, 14956, 00418,299

68,614

16, 27112, 13619,3242, 3712,4376, 1739, 902

162,664

19, 7676, 210

11, 49814, 09618, 6448,948

17,46328, 61411, 4776, 810

12, 8946, 243

67,453

9,73446, 0183, 7597,942

21,356

2,7282, 6361,484

10,3954,113

126,590

14, 7759,1722, 636

100, 007

1, 6643,950

II

918,570

56,963

3,6263,0921, 766

27, 9714,178

16,330

211,876

96,35437,42051, 2112, 722

19,4574,712

190,383

43, 22447, 82222, 79957, 56518,973

70,271

16,60812,42519, 5512,3502,6166,457

10, 264

164,972

19,9996,198

11, 61614,48419, 0348,972

17, 83829, 61911, 4046,668

12,8376,303

68,420

10, 16146, 2703,8988,091

21, 510

2,7832,6641,484

10, 4544,125

128,466

15, 1929,2352, 713

101, 326

1,6444, 065

Personal Income, by Census Regions

45, 608149, 842153, 23555, 02496, 55634, 07757, 63125, 957

104, 295

46, 652153, 204156, 32955, 86599, 36734, 42459, 48426, 629

106, 988

47, 607156, 164159, 24057, 545

102,17635, 20560, 82127, 254

108, 899

48, 476159, 373162, 58858, 976

104, 29535, 77661,55827, 831

110, 839

49, 250161, 468162, 46060, 344

106, 62236, 57962, 91429, 114

112,369

50, 479165, 483164, 91961, 333

110, 14137, 57965, 89229, 634

115, 620

51,076167,933167, 10561, 503

110, 83938, 09766, 07630, 113

115, 893

51, 464168, 717167, 21561, 758

113, 11038, 78866, 82830, 531

116, 726

52, 168172, 223171, 21663,559

115, 85939, 95168,06831, 700

118, 924

53, 293175, 887176, 31165,067

118, 78240,60669, 53732,547

121, 737

54, 152178, 159177,16465, 849

120,95441,40970, 04233, 120

122, 848

54, 413178, 676182, 10566, 809

123, 07842,24171, 30333, 983

124, 602

55, 831183, 195185, 10268,614

126, 67043,88174,88935, 693

129, 568

56, 963184, 985190, 38370, 271

128, 55144, 17275, 57136,212

131, 462

NOTE.—Quarterly totals for the State personal income series will not agree with the personalincome measure carried in the national income and product accounts since the latter includesincome disbursed to Government personnel stationed abroad. 1969-71 estimates have beenrevised. Details may not add to totals because of rounding.

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


By RUSSELL SCHOLL

The International Investment Position of the United States:Developments in 1971

JL HE recorded net international in-vestment position of the United Statesdeteriorated $11.3 billion in 1971. Assuggested by the large errors and omis-sions item in the U.S. balance ofpayments, much of the recorded deteri-oration was due to the fact that inter-national assets acquired by U.S. privateresidents were substantially underre-ported. Consequently, total interna-tional assets of the United Statesincreased only $13.8 billion, but U.S.liabilities to foreigners rose $25.1 billion,concentrated in an increase of U.S.liquid liabilities to foreign official re-serve agencies. By yearend 1971, totalassets still exceeded total liabilities by$57.9 billion, but the liquidity structureof the U.S. investment position hadworsened measurably.

This article reviews the factors ac-counting for recent changes in the netinternational investment position (table1). It discusses changes in the composi-tion of U.S. international assets andliabilities, particularly changes betweenliquid and nonliquid categories (chart8). Finalty, the pattern of change in theliquidity structure of the investmentposition is examined, with specialemphasis on its relationship to thebalance of payments and the suspensionof dollar convertibility in August 1971.

Changes in the net internationalposition

Changes in the net internationalinvestment position of the UnitedStates reflect three major factors (table1). The first is net recorded balance ofpayments capital flows, which must beequal, in an accounting sense, to the

NOTE.—Significant data contributions weremade by Julius Freidlin, Nancy R. Keith,and E. Seymour Kerber.

18

sum of the current account (the balanceof goods and services and unilateraltransfers), allocations of SDR, and anadjustment for errors and omissions.This adjustment for unrecorded trans-actions accounts for the differencebetween measured changes in our in-vestment position from recorded netcapital flows and the recorded balanceon current account plus allocations ofSDE. If unrecorded flows could beidentified, part presumably would gointo recorded capital flows, and partinto the recorded current account. Thecurrent account plus allocations of SDRwould then equal net capital flows. Asurplus on the current account, afteradjustment for errors and omissions,and allocations of SDR tend to improvethe net investment position.

The second factor influencing changesin the net investment position is rein-vested earnings of U.S. affiliates abroadminus reinvested earnings of foreign-owned affiliates in the United States.Earnings of U.S. affiliates abroad notrepatriated or credited to the UnitedStates as income (and thus not includedin the current account) improve ourinvestment position by raising thevalue of U.S. direct investment over-seas. The third factor is the net changein valuation of outstanding U.S. in-vestment abroad and foreign invest-ments in the United States (includingadjustments for changes in coverage andstatistical discrepancies); these adjust-ments are also not reflected in thebalance of payments accounts. Netchanges in valuation include adjust-ments for price changes in the value ofoutstanding U.S. and foreign securities.Also, outstanding assets and liabilitiesdenominated in foreign currencies areadjusted to reflect altered foreign ex-change values vis-a-vis the dollar.

Furthermore, book values of assets andliabilities are adjusted for direct invest-ment write-offs of assets expropriatedor gains or losses from liquidations.Periodically, it is necessary to adjust forchanges in coverage and for new bench-mark surveys of assets and liabilities.

While the change in the net invest-ment position, in an accounting sense,is equal to the sum of the three factors

CHART 8

International Assets and Liabilitiesof the United States

Nonliquid, —U.S. Government

Nonliquid,Private

Liquid, Private2

Liquid,U.S. Government *

I960 1970 1971

1. Liquid liabilities include nonliquid liabilities to foreign officalagencies as in table 3, line 36.

2. Assets not separately available in 1960. included with privatenonliquid assets.

Note.-Refer to table 3 for data.

U.S. Department of Commerce, Bureau of Economic Analysis 7


October 1972 SUEVEY OF CUERENT BUSINESS 19

previously mentioned, it should not beassumed that capital flows necessarilyresult in a change in the net investmentposition. It is clear that if there is acapital outflow from the United Statesand a corresponding increase in assetsbut the current account (or the errorsand omissions) is not affected—i.e. theoutflow does not lead, for instance, to anincrease in U.S. exports—then the out-flow will lead to a corresponding, increasein liabilities or decrease in other assets.In this case there will be no change inthe net investment position. We essen-tially improve our net investment posi-tion by transferring abroad real goodsand services or by reinvesting abroad,and the position is also affected byvaluation changes. Only if an outflow ofcapital in a given year affects the cur-rent account in the same year will theoutflow, per se, affect that year's changein the net investment position, as forinstance, when an increase in exportcredits leads to an increase in exports.In the longer run, the effect of capitalflows on the current account (and thuson the net investment position) is likelyto be much more important.

The recorded change in the net inter-national investment position of theUnited States in 1971 was a sharpdeterioration of $11.3 billion. The bal-ance on current account, in deficit by$2.8 billion in 1971, had an adverseimpact on our investment position. Inthe late fifties and early sixties, therehad been a current account surplus butit subsequently diminished and shiftedto small deficits in 1968 and 1969, ad-versely affecting the net investment

position. (In 1970, the current accountwas temporarily in surplus, due tofavorable cyclical conditions vis-a-visother countries.) Net reinvested earn-ings of $2.6 billion had a favorableimpact of comparable magnitude on thenet investment position, and the effectsof SDE allocations and net valuationadjustments were also offsetting.

Thus, the 1971 decline in the netinvestment position was about the sameas the errors and omissions item, whichtotaled $10.9 billion. The size of theseoutflows mirrored the intensity andscope of the movement out of dollars in1971 stemming from growing expecta-tions that other major currencieswould appreciate vis-a-vis the dollar.Part of the unrecorded outflowsprobably went to the Eurodollarmarket, attracted by high interest ratesresulting from an increased demand forborrowed dollars. Other portions wereutilized to acquire other assets over-seas. If these acquired assets had beenrecorded, the increase in U.S. claimswould have been larger and the de-terioration in our net investment posi-tion would have been much less.

An evaluation of the external positionof the United States also must take intoaccount changes in the composition ofU.S. assets and liabilities. Even whenour net investment position improves,there could be a worsening of itsliquidity structure if U.S. nonliquidcapital outflows are accompanied by adecline in monetary reserves or anincrease in liquid liabilities to foreigners,especially to foreign official agencies.

Changes in U.S. assets and liabilities

Total recorded U.S. assets abroadrose $13.8 billion in 1971, resulting fromcapital outflows of $9.3 billion and $4.5billion in exchange rate, price and otheradjustments. A $14.5 billion rise in U.S.nonliquid assets reflected a continuedstrong preference for longer term for-eign investments by private U.S. resi-dents. (See chart 8.) U.S. directinvestment abroad, increasing $7.8 bil-lion, accounted for half the incrementin nonliquid assets. Of this amount,capital outflows totaled $4.8 billion,$0.4 billion above the 1970 figure, andreinvested earnings were $3.1 billion, a$0.2 billion rise. There was a $2 billionrise in U.S. holdings of foreign secu-rities, about half of which was ac-counted for by capital outflows andhalf by valuation adjustments. Non-liquid bank reported assets increased$1.9 billion and were another importantelement in the increase in nonliquidassets. Government controls such asthe Foreign Direct Investment Pro-gram, the Interest Equalization Taxand the Voluntary Credit RestraintProgram applied to many of these non-liquid assets; increases were mainlywithin expressed guidelines or in ex-empt categories.

Eecorded liquid assets, on the otherhand, fell $0.7 billion. Nearly all of the$2.3 billion decline in our monetaryreserve assets occurred before theAugust 15 suspension of convertibilityof the dollar into gold or other reserveassets. Liquid claims on foreignersreported by banks and nonbanks rose

Table 1.—Factors Accounting for Changes in the Net International Investment Position of the United States

[Millions of dollars]

Item

Balance on current account (surplus (+))

Allocations of SDR . .

Adjustment for: Errors and omissions (receipts (~i~))

Equals: Net recorded balance of payments capital flows (outflow (+)). -.

Plus i Net reinvested earnings (increase (4~))

Plus: Net valuation and other adjustmentsOf which* Changes in coverage and statistical discrepancies

Equals: Change in net international investment position of the United States

Addendum: Net international investment position of the United States at end of period 2

Average

1961-65

3,775

-848

2,927

1, 072

-618431

3,381

1966-70

634

173

-1,045

-238

1,786

-3996

1,510

1966

2,280

-302

1,977

1,400

198256

3,575

65, 212

1967

2,055

-881

1,173

1,158

-2, 068248

263

65,475

1968

-484

-399

-881

1,687

-660224

146

65, 620

1969

-1,035

-2,470

-3,506

2, 173

3,061-287

1,728

67, 349

1970

356

867

-1, 174

47

2,514

-72637

1,836

69, 185

1971 v

-2,847

717

-10,927

-13,055

2,618

-8974

-11,335

57,851

» Preliminary. 1. Revised.NOTE.—Details may not add to totals because of rounding.

2. The net position at the end of a given period is equal to the position at the end of thepreceding period plus the total net change during the period.


20 SUKVEY OF CURRENT BUSINESS October 1972

Table 2.—Changes in the International Investment Position of the United States Reconciled with Balance of Payments Capital Flows[Millions of dollars]

Linesin

table3

1

2

3

4

5,6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Net international investment position and U.S. assets abroad

Item (increase (+))

Net international investment position of the United States

Balance of payments capital flowsOther than capital flows

U S assets abroad

Capital flowsOther than capital flows

Nonliquid assets - - - -

Capital flowsOther than capital flows

U S Government

Long-term creditsCapital flowsExchange rate adjustmentsStatistical discrepancies

Foreign currencies and other short-term assetsCapital flowsExchange rate adjustmentsChanges in coverage and statistical discrepancies

Private long-term

Direct investments abroadCapital flows _Reinvested earningsValuation adjustments

Foreign bondsCapital flowsPrice changes.-Exchange rate adjustments

Foreign corporate stocks. _.Capitalflows . . _Price changes . ..-.Exchange rate adjustments

Other claims, reported by U.S. banks.Capital flowsStatistical discrepancies

Other claims, reported by U.S. nonbanking concernsCapitalflows

Private, short-term nonliquid

Claims reported by U.S. banksCapital flowsChanges in coverage

Claims reported by U S nonbanking concernsCapital flowsStatistical discrepancies

Liquid assets

Capitalflows- . -------Other than capital flows

Private

Claims reported by U.S. banksCapitalflowsChanges in coverage

Claims reported by U S nonbankinc concernsCapital flowsStatistical discrepancies .

UiS. monetary reserve assets

Gold. .

SDR...

Convertible currenciesCapital flowsExchange rate adjustments

Gold tranche position in IMF . .

1970 r

1,836

471,788

8,591

5,9932,597

11,320

8,7222, 597

1, 435

1,4821,568-86

(*)

-4716

-32-32

8,501

7,1444,4002,948-204

1,44287451652

-51669

-759174

-155-175

20

586586

1,384

1,0231,023

361361

-2,729

-2, 729

-252

9999

-351-351

-2,477

-787

851

-2, 152-2, 152

-389

1971*

-11,335

-13,0551, 721

13,775

9,3264,450

14,480

10, 6023,879

2,028

2,0892,074

133

-61-182

123-2

10, 594

7,8234,7653,116-58

1,445889548

8

63220

306306

58556520

109109

1,858

1, 3021,807-505

556555

1

-705

-1, 276571

1,615

1,110566544

505506-1

-2, 320

-866

249

-353-381

28

-1,350

Linesin

table3

26

27

28

29

30

31

32

33

34

35

36

37

38

39

40

41

42

43

44

45

U.S. liabilities to foreigners

Item (increase (+))

U.S. liabilities to foreigners. ....._ ..... .

CapitalflowsOther than capital flows.. • _ • .

Nonliquid liabilities to other than foreign official agencies

Capitalflows . ..Other than capital flows . . . .

U.S. Government _Capitalflows.Valuation adjustments .....

Private, long-term .

Direct investments in the United States . ...CapitalflowsReinvested earnings _. ._ — ...Valuation adjustments

Corporate and other bonds . . .Capitalflows. .. ....Price changes _

Corporate stocks ._Capitalflows . .Price changes

Other liabilities, reported by U.S. banksCapital flows...*.. .... ... . . ^. . .

Other liabilities, reported by U.S. nonbanking concerns.Capital flows

Private, short-term nonliquid, reported by U.S. nonbank-ing concerns.

Capitalflows

Liquid liabilities to private foreigners and liquid and non-liquid liabilities to foreign official agencies. ... . . . ....

Capitalflows ....„ ......Other than Capitalflows

To private foreigners - . _ . . . .

To foreign commercial banks..^ ..Capitalflows....--.- — ..^.... ......... ...Changes in coverage and statistical discrepancies

To international and regional organizationsCapital flows . . .Statistical discrepancies.

To other foreignersCapitalflows ^ .._--..Statistical discrepancies . . ..

To foreign official agencies

Nonliquid -

Reported by U.S. Government.Capitalflows ..'.Valuation adjustments . _

Reported by U.S. banks . . .......Capitalflows

LiquidCapitalflows - -.--Changes in coverage and statistical discrepancies _•_

1970'

6,755

5, 946809

5,682

4,824858

-433-433

5, 213

1,4521, 030

434..-12

2,0781,493

585

548697

-149

2323

1, 1121,112

902

902

1,073

1,122-49

-6,278

-6,47&-6, 508

32

183181

2

1587

-72

7,351

-275

535535

-810-810

7,6267, 637-11

197lJ>

25,110

22,3812, 729

4,258

1,6552, 603

-482-486

4

4, 798

434-67498

3

1,7481,433

315

2, 632849

1,783

-249-249

233233

-58

-58

20,852

20,726126

-6,005

-6,219-6, 908

689

677682-5

-463-465

2

26,857

-128

411341

70

-539-539

26, 98527,615-630

'Revised. > Preliminary. (*) Less than $500,000(±).

NOTE.—Details may not add to totals because of rounding.

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


October 1972 SURVEY OF CURRENT BUSINESS 21

Table 3.—International Investment Position of the United States at YearendJ[Millions of dollars]

Line

1

2

3

4

567

89

101112

13

141516

17

181920

2122232425

26

27

282930

313233

34

35

36

373839

404142434445

Type of investment

Net international investment position ofthe United States .. .

U.S. assets abroad

Nonliquid assets

U.S. GovernmentLong-term credits:

Repayable in dollars *•-Other 2

Foreign currencies and othershort-term assets

Private, long term.Direct investments abroadForeign securities:

Foreign bonds. _Foreign corporate stocks _

Other claims, reported by U.S.banks

Other claims, reported by U.S.nonbanking concerns *

Private, short-term nonliquidClaims reported by U.S. banks. . .Claims reported by U.S. non-

banking concerns

Liquid assets „ .

PrivateClaims reported by U.S. banks...Claims reported by U.S. non-

banking concernsU.S. monetary reserve assetsGold :

SDR_Convertible currencies _Gold tranche position in IM F

U.S. liabilities to foreigners 7_... r

Nonliquid liabilities to other thanforeign official agencies.. -

U.S. Government 8

Private, long-term ._Direct investments in the United

StatesU.S. securities:

Corporate and other bondsCorporate stocks

Otherdiabilities, reported by U.S.banks. _

Other liabilities, reported by U.S.nonbanking concerns 4

Private, short-term nonliquid, re-ported by U.S. nonbanking con-cerns

Liquid liabilities to private foreignersand liquid and nonliquid liabilitiesto foreign omcial agencies

To private foreigners - - , . .To foreign commercial banks «_ _ _To international and regional or-ganizations .To other foreigners

To foreign omcial agenciesNonliquid

Report by U.S. Government 8 _ _Reported by U.S. banks-

Liquid. _

Total

1960

44,730

85,589

66,230

16, 920

{14,028

2,89244, 49731,865

5,5743,984

1,698

1,376« 4, 8135 3, 594

B 1, 219

19,359

(5)(5)

(5)19, 35917,804

1,555

40,859

19, 830

79318, 418

6,910

6499,302

7

1, 550

619

21, 029

9,1394,818

1,5412,780

11, 89022

11,888

1965

'61,636

'120,434

'103,216

23,396

f 14,966I 5,234

3, 196'71,435

49, 474

10, 1655, 048

'4,377

2,3718,3856,846

1,539

17,218

1,768889

87915, 45013,806

781863

58,798

29,224

1,94426, 315

8,797

91614, 599

393

1,610

965

29, 574

12, 9097,419

1,4314,059

16,665459339120

16,206

1970'

69, 185

166,850

149, 951

32, 166

23, 5186,185

2,463104,95978, 177

13, 1606,437

3,035

4,15012, 8269,592

3,234

16,899

2,4121,210

1,20214, 48711, 072

851629

1,935

97,665

50,659

2,00544, 785

13, 270

6,87818,689

1,008

4, 940

3,869

47, 006

22, 61917, 169

8464, 604

24, 3873,7643,069

69520, 623

1971*

57,851

180,626

164, 432

34, 194

25,6146,178

2,402115, 55486, 001

14, 6047,069

3,620

4,25914, 68410,894

3,790

16, 194

4,0272,320

1,70712, 16710,2061,100

276585

122,775

54,917

1,52349, 583

13, 704

8,62621,321

759

5,173

3,811

67,858

16, 61410, 950

1,5234,141

51, 2443,6363,480

15647,608

Western Europe

1970'

-19,056

41,459

40, 051

7,993

6,827951

21529,63424,516

5352,563

471

1,5492,4241,094

1,330

1, 408

780310

6470628

628

60,515

36,304

1,80631, 745

9,554

5,21412, 756

9178

4,043

2,753

24, 211

10, 5509,076

171,457

13, 661645645

(9)13, 016

1971 f

-29,034

45,630

43, 944

7,850

6,798872

18033, 20227, 621

5082,832

706

1,5352,8921,345

1,547

1,686

1,411716

6695275

275

74,664

39, 920

1, 38535, 994

10, 077

6,82514,681

8256

4,155

2,541

34, 744

4,5733,375

81,190

30, 171705705

0029, 466

Canada

1970'

23,807

37,106

36,094

24

19

535, 22122,790

7,8733,180

272

1,106849483

366

1,012

1,012560

452(*)

(*)

13,299

6,776

526,467

3,117

2372,912

83

198

257

6,523

3,5723,078

4942,9512,2892,289

CO662

1971 v

26,423

39,882

38, 346

49

47

237,34224,030

8,7213,262

208

1,121955578

377

1,536

1,536951

585(*)

(*)

13,459

7,197

176,943

3,339

2853,112

8 4

203

237

6,262

2,2821,898

3843, 9802,6402,640

(9)1,340

Japan

1970'

1,177

7,226

7,057

672

54798

272,3391,483

265337

115

1394,0463, 782

264

169

168108

601

1

6,049

843

32666

229

220

8385

30

145

5,206

n.s.s.n.s.s.

n.s.s.n.s.s.n.s.s.

(9)n.s.s.

1971"

-7,799

8,365

8,048

606

48295

293,0501,818

269578

246

1394,3924,059

333

317

316237

791

1

16, 164

152

28-54

-174

870

83

39

178

16,012

n.s.s.n.s.s.

n.s.s.n.s.s.n.s.s.

(9)n.s.s.

Latin Americancountries andother westernhemisphere

1970'

19,685

28,710

28,420

6,320

5,596689

3518,23414, 760

1,059141

1,326

9483,8663,113

753

290

290128

e 162

9,025

3,911

223,520

248

1742,244

8415

439

369

5,114

3,5411,210

1542,1771,573

(9)1,573

1971 *

21,471

30,770

30, 194

6,660

5,943675

4219, 46915, 763

1,116172

1,440

9784,0653,219

846

576

576285

6291

9,299

4, 256

153,770

315

2002,561

8168

526

471

5,043

3,6641,265

3282,0711,379

(9)1,379

Other foreigncountries

1970'

26,096

31,899

31,737

15, 804

9,1814, 447

2,17614, 29211, 042

1,775216

851

4081,6411,120

521

162

162104

«58

5,803

1,,689

951, 249

121

90576

»232

230

345

4,114

n.s.s.n.s.s.

n.s.s.n.s.s.n.s.s.

135135

'(*)n.s.s.

1971 »

30,633

36,373

36, 185

17, 610

10, 9314, 535

2,14416, 19512,450

2,014225

1,020

4862,3801,693

687

188

188131

657

5,740

1,696

771,235

146

62644

8133

250

384

4,044

n.s.s.n.s.s.

n.s.s.n.s.s.n.s.s.

135135

(9)n.s.s.

Internationalorganiza-tions and

unallocatedt

1970'

17,475

20,450

6,592

1,353

1,348

55,239

3 3, 586

1,653

(*)(*)

13, 858

13, 85811, 072

851

1,935

2,975

1,832

1,832

1,161181

8490

1,143

577

577

566

(9)566

1971 '

16,159

19,606

7,715

1,419

1,414

56,296

3 4, 319

1, 977

(*)(*)

11,891

11, 89110,2061,100

585

3,447

1,850

1,850

1, 246253

9351

1,597

1,053

1,053

544

(9)544

' Revised. * Preliminary. *Less than $500,000 (±). Încludes U.S. gold stock.N.s.s. Not shown separately.

1. Also includes paid-in capital subscription to international financial institutions (otherthan IMF) and outstanding amounts of miscellaneous claims which have been settled throughinternational agreements to be payable to the U.S. Government over periods in excess of 1year. Excludes World War I debts that are not being serviced.

2. Includes indebtedness which the borrower may contractually, or at its option, repaywith its currency, with a third country's currency, or by delivery of materials or transfer ofservices.

3. For the most part represents the estimated investment in shipping companies registeredprimarily in Panama and Liberia.

4. The long-term position data given here include estimates for real estate, insurance, estates,and trusts.

5. Liquid claims are not available separately and are included with nonliquid claims.6. Beginning in 1970 country detail for Western Europe includes the European Economic

Community, United Kingdom, and Switzerland only, and for Latin America and O.W.H.includes only Bahamas and Bermuda. Remaining countries are not separately identified due

to insignificant amounts and are included in other foreign countries.7. The regional breakdown for liability lines may not add to the world total since certain

items cannot be shown separately and because of the assumptions made regarding lines 33and 44 (see footnote 9).

8. U.S. Government liabilities are broken down into those to foreign official reserve agenciesin line 43 and those to others in line 28, including foreign official agencies other than reserveagencies. U.S. Government notes held by the Canadian Government in connection with the1964 Columbia River power rights arrangements are included in the entries for foreign official

9. In the regional breakdown, nonliquid liabilities to foreign official agencies reported byU.S. banks are included with private long-term liabilities reported by 1.8. banks, and, forsummation purposes in the regional presentation, line 44 is assumed to be zero and anyentries that would appear there are considered part of line 33.

10. As reported by U.S. banks; ultimate ownership is not identified.NOTE.—Details may not add to totals because of rounding.Source: U.S. Department of Commerce, Bureau of Economic Analysis.


22

only $1.6 billion, partly offsetting thedecline in reserve assets. The increasein claims, particularly liquid claims, isprobably substantially understated asa result of the large unrecordedoutflows.

CHART 9

Liquidity Ratios: Outstanding U.S. AssetsAbroad to Liabilities to Foreigners byDegree of Liquidity

2.0

1.5

1.0

MONETARY RATIOS

2\

0 I I I I I I I I I I I I

4.0

3.5

3.0

2.5

2.0

1.5

1.0

OTHER RATIOS

\ .

I960 62 64 66 68 70

ReservesA :

1 Liabilities to foreign official agencies

Liquid assetsA

Liquid liabilities to private foreigners and liquid and nonliquid

liabilities to foreign official agencies

Liquid and nonliquid short-term assetsB —

1 Liquid and nonhquid short-term liabilities to all foreigners and

nonliquid liabilities to foreign official agencies

n Long-term assetsB?

Long-term liabilities to other than foreign official agencies

n Total U.S. assets abroad

3 Total U.S. liabilities to foreigners

NOTE.—Refer to table 4 for data.

U.S. Department of Commerce, Bureau of Economic Analysis 72-10-

SUEVEY OF CUEEENT BUSINESS

Total U.S. liabilities rose an un-precedented $25.1 billion, $22.4 billiondue to capital inflows and $2.7 billionto price and other adjustments. Therewas a $4.3 billion increase in nonliquidliabilities, which largely reflected anincrease in foreign holdings of U.S.securities of $4.4 billion. Half of theincrease was due to additional purchasesand half to appreciation in the valueof existing holdings. A net increase inforeign direct investment in the UnitedStates of $0.4 billion reflected thereinvestment of earnings, more thanoffsetting a small capital outflow. Thelatter was probably associated withexchange market developments.

Total liquid liabilities to foreignersincreased $20.9 billion (table 2, line 36).Liabilities to foreign official agenciesrose $26.9 billion; sales of dollars on thepart of private holders, both in theUnited States and abroad, led to thisvery large increase. There was a largereduction of liquid liabilities to privateforeigners, totaling $6 billion, for thesecond consecutive year. U.S. banksfurther reduced liabilities to theirforeign branches and other foreignbanks, as did U.S. agencies of foreignbanks to their head offices abroad asU.S. interest rates continued to decline.Dollars were heavily borrowed abroadby European (especially German) firmssubject to restrictive domestic creditpolicies and were converted into othercurrencies to finance their businessoperations. Dollars were borrowed alsoto acquire currencies which were ex-pected to appreciate against the dollar.All these transactions resulted in dol-lars being channeled to foreign com-mercial banks in exchange for local cur-rencies. The commercial banks subse-quently turned in their dollars to theircentral banks, thus contributing to thelarge buildup in U.S. liquid liabilities toforeign official agencies.

In sum, nonliquid assets rose $10.2billion more than nonliquid liabilities,but liquid liabilities rose $21.6 billionmore than liquid assets. The deteriora-tion in the liquidity structure of theU.S. international investment posi-tion—particularly in that part relatingto official U.S. reserve assets and U.S.

October 1972

liquid liabilities to foreign official agen-cies—reached a point where it becamenecessary to suspend dollar converti-bility into gold and other reserve assetson August 15,1971.

Liquidity structure

To facilitate an analysis of the chang-ing liquidity structure of the U.S.international investment position,ratios of selected categories of assetsand liabilities are shown in table 4 andin chart 9. Such an analysis is subjectto limitations because the degree ofliquidity of broad categories of assetsand liabilities, being compared, is notexactly identical.

An examination of the ratios showsthat mounting payments deficits inrecent years have had the cumulativeeffect of eroding our liquidity structure.Eatio Al is, roughly, the investmentposition counterpart of the officialreserve transactions balance in thepayments accounts although the twoindicators do not focus on exactly thesame question. The size of the balanceis not affected by how it is financed, i.e.,whether there is a change in reserves ora change in liabilities to foreign officialagencies. The ratio, which comparesU.S. official reserve assets to U.S.liabilities to foreign official agencies, isaffected by the composition of thefinancing. Throughout the early sixtiesthe ratio was above one but declining.It dropped to 0.77 in 1967, recoveringfor the next 2 years as the officialbalance returned to surplus, reflectingthe tight monetary policy in the UnitedStates. However, in 1970 the ratiodeclined to 0.59, as U.S. short-terminterest rates declined sharply. Theratio deteriorated at an acceleratedpace in 1971, as growing expectations ofa dollar devaluation against otherleading currencies led to a large scalerun on the dollar. Liquid dollar lia-bilities to foreign official agencies soaredand the ratio fell to less than 0.30 bymid-1971. From mid-August throughmid-December 1971, there was a con-trolled float in exchange rates, andseveral foreign countries implementedrestrictions on capital movements to


October 1972 SUEVEY OF CUEEENT BUSINESS

Table 4.—Liquidity Ratios: Outstanding U.S. Assets Abroad to Liabilities to Foreigners, by Degree of Liquidity

23

Referto

chart

Ai

A2

Bi

B2

B3

Lines in table 3

21

41

17

36

14+17

35+36

4+8

28+29

2

26

Ratios

Monetary Combinations

Reserves

Liabilities to foreign official agencies

Liquid assets

Liquid liabilities to private foreigners and liquid and nonliquid liabilities toforeign official agencies

Other Combinations

Liquid and nonliquid short-term assets

Liquid and nonliquid short-term liabilities and nonliquid liabilities to foreignofficial agencies

Long-term assets

Long-term liabilities to other than foreign official reserve agencies

Total U.S. assets abroad

Total U.S. liabilities to foreigners

1960

{i AS.

( Vr°-

(1 19J.U

{o on

{n fun

1961

1 AQ

C9

I ftA

2 ftn

1962

1 OR

QQ

q OO

2 no

1963

1 11

Hf\

O9

q OK

9 no

1964

I nn

AA

Q1

q 97

9 A9

1965

n CA

KO

Q4.

1966

ft o3

KA

7Q

3 CO

1967

0 77

4.7

q qw

1 OA

1968

n s"i

AQ

7n

1 Q1

1969

1 nn

AO

A4.

3 nn

I ff A

1970

O CQ

3ft

KO

9 Q7

1 71

1971

n 94.

24

40

2 QO

1 A7

discourage inflows of funds. During thisperiod the deficit in the official reservetransactions balance roughly measuredthe extent of intervention by foreigncountries to limit appreciation of theircurrencies. As the dollar has been offi-cially inconvertible into gold and otherreserve assets since August 15, practi-cally all this intervention was reflectedin further dollar accumulations by thesecountries. Ratio Al reflected this, anddropped to 0.24 at yearend (where itremained to June 1972).

The worsening of the situationthrough 1971 can also be seen in ratioA2. This ratio, which is, essentially,the counterpart in the investment posi-tion of the net liquidity balance in thepayments accounts, expands the cover-age of U.S. assets to include privateliquid claims in addition to reserves. Itcompares all these liquid assets toliabilities to foreign official agenciesand liquid liabilities to private for-eigners. This ratio also declined in 1970and 1971 but to a lesser degree. Thedecline would have been smaller ifunrecorded acquisitions of private U.S.claims on foreigners could be taken intoaccount.

Other combinations of assets andliabilities in table 4 are useful in assess-ing long-term developments in our in-ternational investment structure. Ratio

Bl, for example, compares reportedU.S. short-term assets (nonliquid andliquid short-term claims of U.S. privateresidents and U.S. official reserves) toshort-term liabilities (liquid and non-liquid short-term liabilities to privateforeigners and all liabilities to foreignofficial agencies). A lesser decline in thisratio than in the monetary ratios is dueto the recent growth in nonliquidclaims on foreigners. In the last 2 years,when foreign interest rates were higherthan U.S. rates and, in the fourthquarter of 1971 when export creditswere exempted from the VoluntaryCredit Restraint Program, U.S. in-creases in these assets exceeded changesin our nonliquid liabilities.

Ratios B2 and B3 are concerned withlong-term assets and liabilities, andtotal assets and liabilities, respectively.It is interesting to note that ratio B2,long-term assets to long-term liabilities,has been relatively stable since 1968,in contrast to the worsening of theshort-term ratio Bl. Ratio B3, coveringtotal assets and total liabilities is themost comprehensive of the ratios. Giventhe stability in the long-term asset andliability ratio the decline in B3 isassociated with the deterioration in ourrecorded short-term international in-vestment position.

(Continued from page 16)

cases, accounted for more thai: two-fifths of the differential between Stateand average U.S. personal incomechange. All but two of these States(Oklahoma and New Mexico) alsoregistered gains in manufacturing pay-rolls that were well above the nationalaverage. Florida is the only State ijithis group not dominated by changes infarming and manufacturing, but heremost recreation (service-type) relatedactivities advanced rapidly. In particu-lar, service industry payrolls showedlarge gains and construction was upmarkedly.

There were 15 States with weak in-come performance. Of these, there wereeight States where income was littlechanged (gains pf three-fourths of apercent or less): West Virginia, Wyo-ming, South Carolina, Utah, Maine,Texas, Colorado, and Oregon. In sevenother States, income dropped by one-half percent to 2 percent: Louisiana,Alabama, Maryland, North Dakota,Pennsylvania, Alaska, and Mississippi.Farm income was off sharply in nine ofthese 15 States, and manufacturingpayrolls were off or up only slightly in13. In three States with weak incomeperformance, losses associated withflooding had a measurable impact.


24 SURVEY OF CUEEENT BUSINESS October 1972

ManufacturersMnventory and Sales Expectations

Table 1.—Manufacturer's Inventories and Sales

Inventories, end of quarterDurables manufacturers. . ..Nondurables manufacturers..

Sales, quarter totalDurables manufacturersNondurables manufacturers .

Inventory-sales ratio 1

Durables manufacturers _Nondurables manufacturers ....

Inventory condition "High" 2

Durables manufacturersNondurables manufacturers .

Inventory condition "Low" 2_Durables manufacturersNondurables manufacturers

Inventory imbalance:Inventory excess. —Inventory deficiency _ _ . .Net excess. __ . .

Actual

1971IV

Expected

1972

I II III IV

Billions of dollars, seasonally adjusted

101.765. 935.8

171.191.779.4

102.566.635. 9

178.796.782.0

103.567. 436.1

183.9100.483.5

104.468.136.3

188.8104. 084.8

105.468.836.6

190.8104.686.3

Months of sales, seasonally adjusted

1.782.151.35

1.722.071.31

1.692.011.30

1.661.961.28

1.661.971.27

Percent

171815111

151613343

151613556

Billions of dollars

2.00.16

1.84

1.72.78.94

1.71.55

1.16

1. End-of-quarter inventories divided by average monthly sales during the quarter.2. Percent of inventory book value held by companies classifying their inventories as "High" or "Low" relative to sales and

unfilled orders; remaining percentage is held by companies classifying holdings as "About Right."Data: Census.

The cautious inventory policies thathave characterized the current economicrecovery continue to be evident fromthe latest quarterly survey of manufac-turers' inventory and sales expectationstaken in July and August. The survey'sfindings, which became available in lateOctober, show that manufacturers ex-pected to add $0.9 billion to inventoriesin the third quarter, and $1 billion inthe fourth; these increases are littledifferent from those in the earlierquarters of the year.

Manufacturers' sales expectationsshow a rise of 2.7 percent for the thirdquarter, and a further increase of 1.1percent for the fourth quarter. Theserates of gain compare with actual in-creases of 4.4 percent in the firstquarter and 2.9 percent in the secondquarter.

Companies holding 15 percent oftotal manufacturers' inventories clas-sified their June 30 stocks as "high";this was the same proportion as onMarch 31, but well below the 21 per-cent reported as of June 30, 1971.Inventories classified as "low," whichwere negligible at the beginning of theyear, rose to a more appreciable 5percent as of June 30, 1972. If the salesand inventory expectations are realized,the recent decline in manufacturers'inventory-sales ratios would continuethrough the third quarter, and hold atthis rate at yearend.

Responsibility for the quarterly sur-vey was transferred early this yearfrom BE A to the Census Bureau, andproblems associated with the transferdelayed tabulation of the July survey

Revisions since January 1966 in aggregate manufacturing and trade sales and inven-tories and in inventory/sales ratios, regularly published on page S-5 of the SURVEY, areshown below.

The revisions in the aggregate reflect new estimates for manufacturers' shipments andinventories and for retail inventories. Data for retail sales and for wholesalers' sales andinventories have not be§n revised.

Fuller details on the revision for manufacturing, which starts in January 1966, arepublished in the Census Bureau's report, Manufacturers' Shipments, Inventories, andOrders: 1966-1972, Series M3-1.4 (revised). Retail inventories starting in January 1970have been adjusted to the data in the Bureau of the Census's 1971 Annual Retail TradeSurvey, which provides the annual benchmark for the monthly series; in addition, theseasonal factors have been updated.


October 1972 SURVEY OF CURRENT BUSINESS 25

Table A.—Manufacturing and Trade Sales, Inventories, and Inventory/Sales Ratios, and Retail Inventory/Sales Ratios

Year andmonth

1966:JanuaryFebruaryMarchAprilMay _June..JulyAugust..SeptemberOctoberNovemberDecember

1967:JanuaryFebruaryMarchApril .May _June _ _ _ _ _July. . .AugustSeptember. _October....NovemberDecember

1968:JanuaryFebruaryMarchAprilMay . . _June _JulyAugustSeptemberOctoberNovemberDecember

Manufacturing and trade salesand inventories

Unadjusted

Inven-tories

120, 894123, 173125, 342126, 705128, 062128, 859129,118129, 698130,786133, 894136, 428135,262

137, 182138, 775140, 422141, 495141, 608140, 767140, 194140, 412141, 028142, 820145,053143, 847

144, 964146, 553148,082149, 815150,854150, 526149, 871150, 109150, 835153,939155, 691153, 956

Sales

77, 77880, 67888, 74687, 95086, 87891, 07882, 78887, 19389, 37290,82989, 38793, 458

80, 93382, 91690,71588, 01590, 49293, 72684, 85290,03191,74592, 02793, 12597, 802

86, 99990,59095, 81296, 02198, 687

100, 14394,48696, 10698, 509

103, 480101, 339103,026

Seasonallyadjusted

Inven-tories

121, 638123,028124, 240125, 297126, 846128, 566129, 733131, 209132, 223133, 782135, 214136, 729

138, 017138, 689139, 305139, 957140, 193140, 429140, 986141, 984142, 220142, 509143, 653145, 108

145,817146, 544146, 980148, 207149, 553150, 301150,747151, 787152,483153, 695154, 389155,336

Sales

85,19985,49887, 18986, 60586, 11687, 56386, 73887,79588, 38288, 49287, 84188,061

88, 32387,83888, 41688, 58388,70589, 67989, 34590,59990, 88389, 62891, 65893, 412

94, 16294, 44495, 21395, 19896, 19496, 97498, 29196/27898,53099, 50799, 97799, 033

Inventory /sales ratios

Manu-fac-

turing

1.431.441.421.451.471.471.501.491.501.511.541.55

1.561.581.581.581.581.571.581.571.561.591.571.55

1.551.551.541.561.551.551.531.581.551.541.541.57

Retail trade

Total

1.391.411.391.421.471.461.461.451.451.471.481.50.

1.481.491.481.471.461.431.451.461.431.461.461.47

1.461.441.411.441.441.431.421.421.421.431.431.45

Du-rable

,1.881.911.831.962.132.072.082.002.022.082.092.09

2.082.152.092.052.021.952.002.011.912.052.032.03

2.032 00L952.012.002.011.981.961.971.971.992.01

Non-durable

1.151.161.171.161.171.171.171.181.181.191.191.22

1.191.201.191.201.201.191.191.201.191.191.201.20

1.191.181.161.171.171.161.151.151.151.171.161.18

Year andmonth

1969:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1970:JanuaryFebruaryMarchAprilMayJuneJuly ..AugustSeptemberOctober.NovemberDecember

1971:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Manufacturing and trade salesand inventories

Unadjusted

Inven-tories

155, 066157, 164159, 315160, 877161, 537161,254161, 058161, 004162, 507165, 224167, 010165, 302

165, 845167, 968169, 717171, 668171, 266171, 150171, 140170, 791171, 634173, 894175, 997173, 435

174, 570176, 347178, 633180, 046180, 597179, 631178,893178, 283179, 706182, 132183, 396181, 010

Sales

93, Oil95, 346

102, 154102, 872104, 818106, 61399, 197

102, 362106, 530110, 474104,515109, 422

96, 19998, 380

104, 597103,644105, 884110, 067102, 481103, 695107, 257107, 729102, 296110, 664

97, 517101, 801111, 276111, 672112, 331118, 472108, 430111, 241115, 719116, 477116, 683121, 547

Seasonallyadjusted

Inven-tories

155,906157, 159158, 149159, 054160,095160, 958161, 931162, 782163, 869165, 030165, 593166, 694

166,919168, 073168, 626169, 762169,672170, 698171, 968172, 720173, 221173, 437174, 374174, 942

175, 740176, 472177, 390178, 037178,827179, 155179, 612180, 298.181, 331 \181, 747181, 852182, 842

Sales

100, 108101, 149101, 593102, 253102, 571102, 844102,857104,174104,923105, 876104, 775104, 274

103, 84L104, 395103, 962103, 201104, 731105, 073105, 470105,800105,438103, 712102,466104, 998

106, 767108, 201109, 752110, 453111, 458112, 647111, 791113,910113, 450113, 191115, 757115, 630

Inventory/sales ratios

Manu-fac-

turing

1.56.55.56.56.56.57.57

1.56.56

1.561.581.60

1.611.611.621.641.621.621.631.631.641.67.70. 67,

.65

.63

.62

.61

.60

.59

.61

.58

.60

.61

.57

.58

Retail trade

Total

1.441.441.46

'•1.44.1. 451. 461.481.471.481.491.491.50

1.49,1.48'1. 471.471. 451.471.471.481.471. 461.471.47

1.461.461.471.471. 491.481.501.481.481.491.461.50

Du-rable

2.021.992.042.022.002.032.102.102.092.132.152.15

2.202.152. 162.142.112.132.132.142.142.152.242.22

2.072.082.052.062.132.112.132.072.042.062.012.10

Non-durable

1.161.171.171.171.181.191.191.181.191.181.191.20

1.181.171.171.171.161.171.171.171. 161.171.171.16

1.191.171.191.191.191.191.201.191.201.211.181.21

Table B.—Retail Inventories

1970:JanuaryFebruaryMarchAprilMayJune _JulyAugustSeptemberOctoberNovemberDecember. ....

1971:JanuaryFebruaryMarch .April. _ - - - - - _ .May.... _ _JuneJulyAugustSeptemberOctoberNovemberDecember

Unadjusted

Retailtrade,total

43, 78544, 69745, 87446, 55446,08046, 27746,32645,45446, 26747,01647, 96445,439

45,63047, 23449, 55250,49650, 68950, 54850, 37349, 82751,51452, 87053, 72050, 889

Du-rablegoodsstores,total

20, 18720, 63221, 12821, 42921, 30221, 48921, 32519, 92919, 96319,56719, 51519, 801

20, 46121, 56722, 68923,26123,65923, 68023,33022, 16122,91623,13023, 38723, 152

Auto-motivegroup

9,7059,902

10, 24410, 44110, 49910, 67110, 5519,1099,1128, 5428,2958, 850

9, 54010, 45011, 28811,68712,01812, 15511, 81810, 58311, 22611, 25411, 27811, 384

Furni-tureand

appli-ance

group

3,1843,2343,3003,3673,3183,3483,3473,3633,4043,5103, 5633,384

3,3233, 3823,4553, 5333, 5243,5073,4793, 5163, 5663,6263,7103,557

Lum-ber,

build-ing

mate-rialshard-waregroup

2,6272,6192, 6742,6972,6432,6432,6332,6142,6252,6112,6252,671

2,7442,8443,0053, 0433, 1173,1183,1163, 0763, 1163,1893,2063,219

Non-du-

rablegoodsstores,total

23, 59824, 06524, 74625, 12524, 77824, 78825,00125,52526, 30427, 44928,44925,638

25, 16925, 66726, 86327, 23527, 03026, 86827, 04327,66628, 59829, 74030, 33327, 737

Ap-parelgroup

4,1594,2734,4114,4604,3724, 2764,2854,4684, 6204, 6984, 8834,209

4,0534, 1594,4274,4544, 3804, 3284,3684,5944,7654, 8995, 0054,397

Foodgroup

4, 7434,7864,8404,8654,8674,8734,8914,8364,8685,0525,2625,078

4, 9794,9645,1395,1855,2045,2425,2575,2195,2805, 4525,6305,507

Generalmer-chan-dise

group

8,9079,1639, 5629,7269,6069, 6379,895

10,17910, 74111,44711, 7989,905

9,88910, 23810, 76911,04011, 06110, 93711,02911,31811, 97312, 62712, 83511,062

De-part-mentstores

5, 1325,3125,6365,7135,6635,6835,8786,0806, 4496, 8917,1545, 976

5,9576,1286,5166,6446,6456,5096, 5586,7167,1777, 6327,8216,613

Adjusted

Retailtrade,total

45, 18845, 26645, 27345, 50645, 34845, 94546, 41646, 84546, 84546, 15146, 13746, 626

47, 19347, 90948, 82049,34849, 82150, 20850, 42951,22352,10452, 08351, 91652, 261

Du-rablegoodsstores,total

20, 37520, 38620, 37520,41620, 34420,64020, 94921, 21721, 13020, 25619, 81920, 345

20,72821,35021, 77022, 14222,54722,77222, 89723, 44124,14324, 03423, 87223, 808

Auto-motivegroup

9,6479,5399,5839,6239, 6769,853

10,10610, 37510,2389,3058,8069,133

9,55910,12610,46910, 78111,05611,28211, 30911, 82612, 39912, 21911, 97211,772

Furni-tureand

appli-ance

group

3,3033,3103,3233,3243,2953,3513,3713,3803,3943,4283, 4133,432

3,4443,4583,4763, 4883,5003, 5143,5073,5343, 5593, 5413,5543,604

Lum-ber,

build-ing

mate-rialshard-waregroup

2,6782,6352,6222, 6132,5692, 5992,6252, 6432,6572, 6482,6622, 748

2,7972,8552,9432, 9493,0263,0663,1043,1103,1573,2383,2553,312

Non-du-

rablegoodsstores,total

24, 81324,88024,89825,09025, 00425, 30525,46725, 62825,71525, 89526,31826,281

26, 46526, 55927,05027, 20627, 27427,43627, 53227, 78227, 96128, 04928, 04428,453

Ap-parelgroup

4, 5214,4514,4244, 4514,4394,4364, 4084,3934, 3714,3784, 4724,384

4,4014,3374, 4454,4414,4474,4854,4894,5174,5124,5664,5834,580

Foodgroup

4,8054,8444,8354,8604, 8674, 8934,9254, 9254,9224, 9685,0745,018

5, 0505,0295,1395, 1855, 1995,2635, 2895,3155,3445,3665,4295,442

Generalmer-chan-dise

group

9,6349, 6839,7249,7719, 7119, 913

10,08910, 19510, 29810, 36510, 51010, 528

10,70310, 83010, 95111, 10211,17911, 25011,22811, 33611, 47911, 43511,43311,753

De-part-mentstores

5, 5845, 6515,7105, 7425,7205,8956,0236,1046,1836,1976,, 2926/357

6,4756,5266,6026,6846,7056, 7456,7126,7436,8816, 8696,8797,035


26 SUEVEY OF CUEEENT BUSINESS October 1972

Table 1.—U.S. Balance ol Payments Summary, 1948-59, Annually


Line

123

4

5

6789

10

11

12

13

14

15

16

1718

19202122232425

26

27282930

3132

33

3435363738394041

42

43

44

45

4647484950

51

52

53

54

(Credits-t-; debits-)

Merchandise trade balance l

Exports __Imports _

Military transactions, net _

Travel and transportation, net

Investment income, net2 . _ . . . . .U.S. direct investment abroad _ _ _ _ _ _ _ _ _ _ _Other U.S. investment abroad _ _ __Foreign investments in the United States

Other services, net.. _

BALANCE ON GOODS AND SERVICES 3

Remittances, pensions and other transfers

BALANCE ON GOODS, SERVICES AND REMITTANCES __

U.S. Government grants (excluding military)

BALANCE ON CURRENT ACCOUNT *._ . _

U.S. Government capital flows excluding nonscheduled repay-ments, net *

Nonscheduled repayments of U.S. Government assetsU.S. Government nonliquid liabilities to other than foreign-

official reserve agenciesLong-term private capital flows, net. _

U. S . direct investment abroad _ _ _Foreign direct investment in the United States-Foreign securities _ _ .U. S . securities other than Treasury issues. _ _ . .Other, reported by U.S. banksOther, reported by U.S. nonbanking concerns _

BALANCE ON CURRENT ACCOUNT AND LONG-TERMCAPITALS...

Nonliquid short-term private capital flows, net ?_Claims reported by U.S. banks 1Claims reported by U.S. nonbanking concerns 7

Liabilities reported by U.S. nonbanking concerns

Allocations of special drawing rights (SDR) <Errors and omissions, net.

NET LIQUIDITY BALANCE.

Liquid private capital flows, net rLiquid claims 7 . _

Reported by U.S. banks 1Reported bv U.S. nonbanking concerns 7

Linuid liabilitiesTo foreign commercial bantsTo international and regional organizations -_ _-To other foreigners. _.

Official reserve transactions balance

Financed by changes in:

Nonliqnid liabilities to foreign official reserve agencies reportedbv U.S. Government

Nonlianid liabilities to foreign official agencies reported byU.S. banks

Liquid liabilities to foreign official agencies

U.S. official reserve assets, netGold__._ _SDR _Convertible currenciesGold tranche position in IMF _ . .

Memoranda:

Transfers under military grant programs (excluded from lines2, 4, and 14).

Reinvested earnings of foreign incorporated affiliates of U.S.firms (excluded from lines 7 and 20) . . ...

Reinvested earnings of U.S. incorporated affiliates of foreignfirms (excluded from lines 9 and 21)

Liquidity balance, excluding allocations of SDR _ .

Refer-encelines

(table 2)

216

3,17

4,5,618,19,20

10,1112,1324, 25,

26,277, 8, 9,21,22,23

31,32....

30

34, 35, 36.

37

55

394840.49.41 5244,50..__

424551

6364.

434656

54

5357

5859

62

14, 28—

56, 57,58,63

1948

5,70813, 265

—7, 557

« -799

374

1,2621,277

276-291

—27

6,518

-631

5,887

-3, 894

1,993

—1.024

n.s.s.n.a.

-72134

-95-192

n.s.s.-23

n.a.

-131-132

25-24

1,115

n.a.

n.a.—9-3-6

n.s.s.

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

-1, 736-1, 530

-206

448

581

157

817

1949

5 33912, 213

—6, 874

« -621

230

1,2731,332

283-342

-3

6,218

-641

5,577

-4, 997

580

-652

n.s.s.n.a.-660

562774

n.s.s.-89

n.a.

158188

-33

717

n.a.

n.a.— 4-6

n.s.s.n.s.s.n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

—266-164

-102

211

436

143

136

1950

1 12210, 203

—9, 081

« -576

—120

1,4601,540

299-379

6

1,892

-533

1,359

-3, 484

-2,125

-156

n.s.s.n.a.-621

80-275

-7n.s.s.

-48

n.a.

7546

—736

-124

n.a.

n.a.—188-158—30

n.s.s.n.s.s.n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

1,7581,743

15

520

475

190

-3,489

1951

3, 06714, 243

—11, 176

-1,270

298

1,7201, 764

390-434

2

3,817

-480

3,337

-3, 035

302

-156

n.s.s.n.a.-508

90-353

126n.s.s.

-81

n.a.

-227-224-38

35

354

n.a.

n.a.15914910

n.s.s.498

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

-33-53

2i

1,439

75

169

1952

2 61113, 449

—10, 838

-2,054

83

1, 6751, 711

409-445

41

2,356

-571

1,785

-1,960

-175

-420

n.s.s.n.a.-852

132-87

37n.s.s.

-95

n.a.

-41-83

44

497

n.a.

n.a.9

~~4—5

n.s.s.32

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

-415-379

-3i

2,582

923

134

-1,206

1953

1 43712 412

—10 975

-2, 423

—238

1,7321,747

468-483

24

532

-644

-112

-1, 837

-1,949

-218

n.s.s.n.a.-735

1589170

n.s.s.-21

n.a.

18316829

-14

22(

n.a.

n.a.-30-22-8

n.s.s.-59

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

1,2561,161

95

4,176

826

163

-2,184

1954

2 57612 929

—10 353

-2, 460

-269

2, 1122,053

502-443

1,959

-633

1,326

-1,647

-321

93

n.s.s.n.a.-667

124-206

141n.s.s.

__4

n.a.

-556-406-125-25

6C

n.a.

n.a.-104-82-22

n.s.s.1

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

480298

182

3,362

702

162

-1,541

1955

2 89714 424

—11 527

-2, 701

—297

2,2972,285

532-520

-43

2,153

-597

1,556

-1,901

-345

-310

n.s.s.n.a.-823

19720

181n.s.s.

-23

n.a.

-328-191-58-79

37]

n.a.

n.a.58292<

n.s.s.410

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

1824:

141

2,588

962

187

-1,242

1956

4 75?17 55

—12 801

-2, 788

—361

2,4942,609

491-606

47

4,145

-690

3,455

-1,733

1,722

-629

n.s.s.n.a.-1, 951

232-421

323n.s.s.

24

n.a.

-479-399-142

62

390

n.a.

n.a.241311

n.s.s.428

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

-869-306

-563

2,567

1,175

167

-923

1957

6 27119 562

—13 291

-2, 841

—189

2,5882,695

568-675

72

5,901

-729

5,172

-1,616

3,556

-958

n.s.s.n.a.

-2, 442155

-470237

n.s.s.-42

n.a.

-174-255-13

94

1,012

n.a.

n.a.-8— 1— 7

n.s.s.60

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

-1, 165-798

-367

2,418

1,363

157

621

1958

3 46216 414

—12 952

-3, 135

—633

2,5842,563

724-703

78

2,356

-745

1,611

-1,616

-5

-971

n.s.s.n.a.-1, 181

98-1, 250

(*)n.s.s.

-59

n.a.

-145-302

51106

361

n.a.

n.a.-60-49—11

n.s.s.48

n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

2,2922,275

--

2,286

945

156

-3,348

1959

1 1*816 458

-15310

-2,805

-821

2,7262771'815

-860

62

310

-815

-505

-1,633

-2,138

[ -787

[ 434

n.s.s.n.a.-1, 372

238-668

449n.s.s.

-54

n.a.

-89-60-41

12

260

n.a.

n.a.243

21n.s.s.

1,158n.s.s.n.s.s.

n.a.

n.s.s.

n.s.s.n.s.s.

1,0351,075

""-40

1,974

1,089

223

-3,648

N.a. Not available. N.s.s. Not shown separately.1. Adjusted to balance of payments basis; excludes exports under U.S. military agency

sales contracts and imports of U.S. military agencies.

5. Includes some short-term U.S. Government assets.6. Includes direct defense expenditures only.

s contracts ana imports of U.S. military agencies. 7. Coverage of liquid banking and nonbanking claims is limited to foreign ----„- id2. Includes fees and royalties from U.S. direct investments abroad or from foreign direct posits only; other liquid items are not available.separately and are included witn nomiqum

investments in the United States.3. Equal to net exports of goods and services in national income and product accounts

of the United States.4. The sum of lines 15 and 31 is equal to "net foreign investment" in the national income

and product accounts of the United States.

claims.NOTE.— Details may not add to totals because of rounding.Source: U.S. Department of Commerce, Bureau of Economic Analysis.


October 1972 SUEVEY OF CUKKEJNT BUSINESS 27

Table 2.—U.S. International Transactions, 1948-59, Annually


Line

1

234567

<89

10111213

14

15

1617181920212223

24252627

28

29

303132

33

3435

3637

38

3940

414243

444546

47

4849

50515253

5455

5657

58

59606162

63

64

(Credits +; debits -)i

Exports of goods and services 2

Merchandise, adjusted, excluding military 3

Transfers under U.S. military agency sales contractsTravel _ _ _ _ _ _ _ _ _Passenger fares _ _Other transportation. _ _Fees and royalties from unamliated foreigners . _Other private services . _ . _ _ _ _ _U.S. Government miscellaneous services

Receipts of income on U.S. investments abroad'Direct investment fees and royalties.Direct investment interest, dividends and branch earnings 4_Other private assets— _ , _U.S. Government assets.. _ _ _

Transfers of goods and services under U.S. military grant programs, net ,

Imports of goods and services

Merchandise, adjusted, excluding military sDirect defense expendituresTravelPassenger fares _ _ _Other transportation _ _ _Fees and royalties to unamliated foreigners,.Private payments for other services.___U.S. Government payments for miscellaneous services

Payments of income on foreign investments in the United States:Direct investment fees and royalties __ .Direct investment interest, dividends and branch earnings *Other private liabilities.. _U.S. Government liabilities

U.S. military grants of goods and services, net _ __

Unilateral transfers (excluding military grants), net

U.S. Government grants (excluding military)U.S. Government pensions and other transfersPrivate remittances and other transfers.

U.S. Government capital flows, net

Loans and other long-term assetsForeign currencies and other short-term assets, net. _ _ _

Repayments on credits:ScheduledNonscheduled..

U.S. private capital flows, net

Direct investments abroad *Foreign securities

Claims reported by U.S. banks:Long-termShort-term, nonliquid 8

Short-term, liquid 8

Claims reported by U.S. nonbanking concerns:Long-termShort-term, nonliquid 5

Short-term, liquid 6 _

Foreign capital flows, net

Direct investments in the United States < _ _ _U.S. securities other than Treasury issues

Other U.S. nonliquid liabilities to private foreigners:Long-term, reported by U.S. nonbanking concernsShort-term, reported by U.S. nonbanking concernsLong-term, reported by U.S. banks. - _

Long-term liabilities to foreign official agencies reported by U.S. banks

Nonliquid liabilities reported by U.S. government:To foreign official reserve agencies _- _ _To other official and private foreigners

U.S. liquid liabilities:To private foreigners . _ _ _ _To foreign official agencies _ _ _

Transactions in U.S. official reserve assets, net

GoldSDRConvertible currenciesGold tranche position in IMF _ _ _ _

Allocations of special drawing rights (SDR)

Errors and omissions, net. _

1948

16,861

13 265n s s.

33499

1,218\ onoJ 292

100

21?1,064

174102

448

—10,34?

—7 557—799—631

—79-567

j —208-211

-11-10P-158-17

-448

-4,525

-3, 89466

-697

-1,024

—1 66588

443

—906

-721—95

39—132

—3

1?25

—6

558

34—192

—10—24

—4

—165

} 919

—1,736

—1 530

—206

11,115

1949

15,834

12 213n s s

39289

1 149

244132

2201,112

18598

211

—9,616

—6 874-621—700—107—593-144—235

—9—164—144

—25

—211

—5,638

-4, 997—109-532

—65?

—68*-17?

205

—553

—66027

_2Q

188—6

7832

174

5674

—11—33

(*)

—42

130

—266

—164

—102

717

1950

13,893

10 203n.s s

41988

945267132

2461,294

190109

520

—12,001

—9 081—576—754—147—671-143-250

-10-172— 16P—31

-520

-4,017

-3, 484—79

-454

—156

—414-37

295

—1 265

—621—275

17746

—158

437

—30

1 912

807

—536

(*)

77

1,731

1 758

1 743

15

-124

1951

18 864

14 243n s s

47391

1,465286152

2721 492

192198

1,439

—15 047

—11 176—1 270

—757—133—841-182—254

-20—188— 17Q

—47

-1,439

—3,515

—3 035—71

—409

—156

—458—3

305

1 048

—508353

14224149

703810

581

90126

1135

(*)

300

41

—33

53

20

354

1952

18,122

13 449n s s

550112

1,376

309206

2921 419

205204

2,582

—15 766

—10 838—2 054

-840—175—940

-197

—277

-24-183—174

—64

-2,582

—2,531

—1 960—128—443

—420

—847—2

429

1 160

—85287

36834

qj25

1 673

13237

—4441

-158

1, 621

—415

—379

—36

497

1953

17,078

12 412192574107

1,091314173

3051 442

216252

4,176

—16 546

—10 975—2 615

—929—181—900-223—240

-22-196— 179—86

-4,176

—2,481

-1, 837—141-503

— 218

—71611

487

—383

—73591

llt>168

—22

2129

—8

1 074

15870

(*)—14

(*)

-68

928

1 256

1 161

95

22C

1954

17 889

12 92Q'l82595111

1 060307150

3281 725

230272

3,362

—15 930

—10 353—2 642—1 OOP

—186—840

—285-222

-2?-177—184

—59

-3,362

-2,28C

-1, 647—12°-504

93

—306-108

507

—1 62?

—667206

102—406—82

1212*

—22

1 310

124141

8—25

1

(*)

1,061

480

298

182

60

1955

19 948

14 424200654120

1,286324123

3731 912

258274

2,588

—17,795

—11 527—2 901— 1 153

—206—998—273-217

-31-179—216-94

-2,588

-2,498

-1, 901—141-456

-310

—383-343

416

-1,255

-82320

—226—191

29

—35—58

29

1 357

197181

12—79

(*)

—14

1,060

182

41

141

371

1956

23,772

17 556161705126

1,491( 133{ 378

122

4382, 171

297194

2,567

-19,627

—12 803—2 949—1, 275

—241-1, 167

( -23( —328

-235

-38-178-236-154

-2,567

-2,423

-1,733-135-555

-629

-545-563

479

-3,071

-1, 951-421

—166—399

13

-16-142

11

2,457

232323

4062

1,792

-869

-306

-563

390

1957

26,653

19 562375785148

1,819140424137

4462,249

363205

2,418

—20,752

—13 291—3 216—1, 372

—264-1, 305

-22-326-281

-36-188-250-201

-2,418

-2,345

-1, 616-159-570

-958

—993-624

659

-3,577

-2,442-470

-349-255-1

-40-13-7

1,132

155237

-2949

95

544

-1,165

-798

-367

1,012

1958

23 217

16 414300825156

1,482168444141

4422 121

417307

2,286

-20,861

—12 952—3 435— 1 460

-323-1, 313

-25-368—282

-34-211-319-139

-2,286

-2,361

-1,616-182-563

-971

-1, 176-339

544

-2,936

-1, 181-1, 250

-152-302-49

-4251

-11

1,259

98(*)

-17106

2,292

2,275

17

361

1959

23 652

16 458302902165

1,481166449143

5432 228

466349

1,974

-23,342

—15 310—3 107—1 610

-388-1, 371

-28—367-301

-32-218-329-281

-1,974

-2,448

-1,633-216-599

-353

-1,051-356

< 620\ 434

-2,375

-1, 372-668

-181-60

3

—77-41

21

3,571

238449

2312i

907

2 /»iq

1,035

1,075

-40

260

N.S.S. Not shown separately. *Lessthan$500,000(_t).1. Credits, -f: Exports of goods and services; unilateral transfers to U.S.; capital inflows

(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S.official reserve assets.

Debits, —: Imports of goods and services; unilateral transfers to foreigners; capitaloutflows (decrease in U.S. liabilities or increase in U.S. assets); increasein U.S. official reserve assets.

2. Excludes transfers of goods and services under U.S. military grant programs.3. Excludes exports of goods under U.S. military agency sales contracts identified in Census

export documents, and imports of goods included under direct defense expenditures identified

in Census import documents, and reflects various other balance-of-payments adjustments(for valuation, coverage, and timing) to Census statistics.

4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.b.incorporated affiliates of foreign firms. ,

5. Coverage of liquid banking and nonbanking claims is limited to foreign currency de-posits only; other liquid items are not available separately and are included with nomiquiaclaims.

NOTE.—Details may not add to totals because of rounding.Source: U.S. Department of Commerce, Bureau of Economic Analysis.


SUMMARY NATIONAL INCOME AND PRODUCT SERIES, 1929-71Table A.—Gross National Product

[Billions of dollars]

Year

19291930. .19311932.19331934193519361937 .19381939194019411942194319441945 . . .1946.. _1947194819491950195119521953195419551956 .195719581959 ... . .19601961 .1962 .1963196419651966 . .19671968 -.196919701971

GNP

103.190.475.858.055.665.172.282.590.484.790.599.7

124.5157.9191.6210.1211.9208. 5231.3257. 6256. 5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7503.7520.1560. 3590.5632.4684.9749.9793.9864.2930.3976.4

1,050.4

Personal consumption expenditures

Total

77.269.960.548.645.851.355.761.966.563.966.870.880.688.599.3

108.3119.7143.4160.7173.6176. 8191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2325. 2335.2355.1375.0401. 2432.8466. 3492.1536.2579.5616.8664.9

Durablegoods

9.27.25.53.63.54.25.16.36.95.76.77.89.66.96.66.78.0

15.820.422.724.630.529.629.333.232.839.638.940.837.944.345.344.249.553.959.266.370.873.184.090.890.5

103.5

Non-durablegoods

37.734.029.022.722.326.729.332.935.234.035.137.042.950.858.664.371.982.490.596.294.598.1

108.8114.0116.8118.3123.3129.3135.6140.2146.6151.3155.9162.6168.6178.7191.1206.9215.0230.8245.9264.4278. 1

Services

30.328.726.022.220.120.421.322.824.424.325.026.028.130.834.237.239.845.349.854.757. 662.467.973.479.985.491.498.5

105.0112.0120.3128.7135. 1143.0152.4163.3175. 5188.6204.0221.3242.7261.8283.3

Gross private domestic investment

Total

16.210.35.61.01.43.36.48.5

11.86.59.3

13.117.99.85.77.1

10.630.634.046.035.754.159.351.952.651.767.470.067.960.975.374.871.783.087.194.0

108.1121.4116.6126.0139.0137.1152.0

Nonres-identialfixed in-vestment

10.68.35.02.72.43.24.15.67.35.45.97.59.56.05.06.8

10.117.023.426.925.127.931.831.634.233.638.143.746.441.645.148.447.051.754.361.171.381.683.388.898.5

100.9105.8

Residen-tial struc-

tures

4.02.3.1.7

.7

.6

.91.21.61.92.02.93.43.92.11.41.31.57.2

11.114.413.719.417.217.218.019.723.321.620.220.825.522.822.625.327.027.127.225.025.130.132.631.242.6

Change inbusinessinven-tories

1.7-.4

-1.1-2.5-1.6-.71.11.32.5

-.9.4

2.24.51.8-.6

-1.0-1.0

6.4-.54.7

-3.16.8

10.33.1.4

-1.56.04.71.3

-1.54.83.62.06,05.95.89.6

14.88.27.17.84.93.6

Netexports

1.11.0.5.4.4.6.1.1.3

1.31.11.71.3.0

-2.0-1.8-.67.5

11.56.46.11.83.72.2.4

1.82.04.05.72.2.1

4.05.65.15.98.56.95.35.22.51.93.6.7

Government purchases ofgoods and services

Total

8.59.29.28.18.09.8

10.012.011.913.013.314.024.859.688.696.582.327.025.131.637.837.959.174.781.674.874.278.686.194.297.099.6

107.6117.1122.5128.7137.0156.8180.1199.6210.0219.0232.8

Federal

1.31.41.51.52.03.02.94.94.75.45.16.0

16.951.981.189.074.217.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.798.898.896.597.8

Stateandlocal

7.27.87.76.66.06.87.17.07.27.68.28.07.97.77.47.58.19.8

12.615.017.719.521.522.924.627.430.133.036.640.643.346.150.253.758.263.570.179.089.4

100.8111.2122.5135.0

Finalsales

101.490.777.060.557.265.871.281.287.985.690.197.5

120.1156.2192. 2211.1213.0202.1231.8252.9259.6278.0318. 1342.4364.1366.4392.0414.5439.8448.8478.9500.2518.1554.3584. 6626.6675.3735.1785.7857. 1922.5971.5

1,046.7

GNP in1958

prices

203.6183.5169.3144.2141.5154.3169.5193.0203. 2192.9209.4227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9487.7497. 2529.8551.0581.1617.8658.1675.2706.6725.6722.1741. 7

GNPimplicit

pricedeflator(Index

numbers,1958=100)

50.649.344.840.239.342.242.642.744.543.943.243.947.253.056.858.259.766.774.679.679.180.285.687.588.389.690.994.097.5

100.0101.6103.3104.6105.8107.2108.8110.9113.9117.6122.3128.2135. 2141.6

Table B.—National Income and Disposition of Personal Income[Billions of dollars]

Year

1929. .19301931.....19321933...19341935 _19361937.19381939-1940- . ....19411942.19431944-1945.1946.194719481949.1950. .1951195219531954.1955.1956. .1957. .19581959-1960.1961196219631964. .1965. .1966. ...- .1967.19681969.1970.1971 ..

Nationalincome

86.875.459.742.840. 349.557.265.073.767.472.681.1

104.2137.1170.3182.6181.5181.9199.0224.2217.5241.1278.0291. 4304.7303.1331.0350.8366. 1367.8400.0414.5427. 3457.7481. 9518.1564.3620. 6653. 6711.1766. 0798.6855.7

Com-pensation

of em-ployees

51.146. 839.831.129.534.337. 342.947.945.048.152.164.885.3

109.5121.2123. 1117.9128.9141.1141.0154.6180.7195.3209. 1208.0224.5243.1256.0257.8279. 1294.2302. 6323. 6341.0365. 7393.8435.5467.2514.6566.0603.8644.1

Proprietors' income

Businessand

profes-sional

9.07.65.83.63.34.75.56.77.26.97.48.6

11.114.017.018.219.221.620.322.722.624.026.127.127.527.630.331.332.833.235.134.235. 637. 137.940.242.445.247.349.550.549.952.6

Farm

6.24.33.42.12.63.05.34.36.04.44.44.56.49.8

11.711.612.214.915.217.512.713.515.815.013.012.411.411.411.313.411.412.012. 813.013.112. 114.816.114.814.716.716.917.3

Rentalincome

ofpersons

5.44.83.82.72.01.71.71.82.12.62.72.93.54.55.15.45.66.67.18.08.49.4

10.311.512.713.613.914.314.815.415.615.816.016.717.118.019.020.021.121. 222.623.324.5

Corporate profits and IVA

Total

10.57.02.0

-1.3-1.2

1.73.45.66.84.96.39.8

15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.749.950.355.758.966.376. 182.478.784.379.869.978.6

Profitsbefore

tax

10.03.7-.4

-2.31.02.33.66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.149.750.355.459.466.877.884. 279.887.684.974.383.3

Profitsaftertax

8.62.9-.9

-2.7.4

1.62.64.95.32.95.67.2

10.110.111.111.29.0

15.520.222.718.524.921.619.620.420.627.027.226.022. 328.526.727.231.233.138.446.549.946.647.844.840.245.9

Netinterest

4.74.95.04.64.14.14.13.83.73.63.53.33.23.12.72.32.21.51.91.81.92.02.32.62.83.64.14.65.66.87.18.4

10.011.613.815.818.221. 424.426.930.534.838.5

Personalincome

85.977.065.950.247.054.060.468.674.168.372.878.396.0

122.9151.3165.3171.1178.7191.3210. 2207. 2227. 6255. 6

I 272. 5288. 2290. 1310.9333.0351.1361.2383.5401.0416.8442.6465.5497.5538.9587.2629.3688. 9750.9806.3861.4

Less;Personaltax andnontax

pay-ments

2.62.51.91.51.51.61.92.32.92.92.42.63.36.0

17.818.920.918.721.421.118.620.729.034.135.632.735.539.842.642.346.250.952.457.460.959.465.775.483.097.9

116.5116.7117.0

Equals:Dispos-

ablepersonalincome

83.374.564.048.745.552.458.566.371.265.570.375.792.7

116.9133.5146. 3150.2160.0169.8189.1188.6206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3350. 0364.4385. 3404.6438.1473.2511.9546.3591.0634.4689.5744.4

Less:Personaloutlays

79. 171.161.449.346.552.056.462.767.464.867.771.881.789.3

100.1109.1120.7144.8162.5175.8179.2193.9209.3220.2234.3241.0259.5272.6287.8296.6318. 3333.0343.3363.7384.7411. 9444.8479.3506. 0551.2596.2634.7683.4

Equals:Personalsaving

4.23.42.6-.6-.9

.42.13.63.8.7

2.63.8

11.027.633.437.329.615.27.3

13.49.4

13.117.318.118.316.415.820.620.722.319.117.021.221.619.926.228.432.540.439.838.254.960.9

Personalsavingrate1

(percent)

5. 04.64.1

-1.3-2.0

.73.75.45.31.13.75.1

11.823.625. 025.519.79.54.37.15.06.37.67.67.26.45.77.06.77.05.64.95.85.64.96.06.06.47.46.76.08.08.2

Dispos-able

personalincomein 1958prices

150.6139.0133. 7115. 1112. 2120. 4131. 8148. 4153. 1143. 6

| 155. 9166. 3190. 3213. 4222. 8231. 6229. 7227. 0218. 0229. 8230. 8249. 6255. 7263. 3275. 4278. 3296. 7309. 3315. 8318. 8333.0340.2350. 7367.3381. 3407.9435.0458.9477.5499.0513.6533.2554.7

1. Personal saving as a percent of disposable personal income.

U. S. GOVERNMENT PRINTING OFFICE : 1972 O - 478-721


CURRENT BUSINESS STATISTICS

JLHE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEYOF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $3.00) provides a description of each series, referencesto sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1967 through 1970 (1960-70 for major quarterlyseries), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1970 issued too late forinclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 issue. Also, unless otherwise noted, revised monthlydata for periods not shown herein corresponding to revised annual data are available upon request.

The sources of the data are given in the 1971 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, andare also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS

1969 1970 1 1971

Annual total

1969

III IV

1970

I II III IV

1971

I II III IV

1972

I II III"

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series

NATIONAL INCOME AND PRODUCTf

Gross national product, totalf._— __bil.$_-

Personal consumption expenditures, total do _ _

Durable goods, total 9 doAutomobiles and parts _ _ _ doFurniture and household equipment _. _ do

Nondurable goods, total? _. _ _ doClothing and shoes __doFood and beverages doGasoline and oil do

Services total 9 doHousehold operation „ doHousing _ _ _ _ : _doTransportation do

Gross private domestic investment, total. _do

Fixed investment doNonresident ial — _ -do. _ _

Structures _ _ _ - _ do _ _Producers' durable equipment do

Residential structures _ _ _ _ _ _ _ d o _Nonfarm do

Change in business inventories _ doNonfarm _ _ -do _ _

Net exports of goods and services... _ _ _ . _ _ d oExports _ _ _ _ _ do._Imports do

Govt. purchases of goods and services, total. _do .___Federal do

National defense _ _ _ _ _ _ d o _State and local do

By major type of productrfFinal sales, total do

Goods, total _ _ _ _ _ _ d o _ _Durable goods doNondurable goods. _ _ _ _ _ _ d o _ _

Services doStructures _ _do_ _

Change in business inventories— doDurable goods doNondurable goods do

GNP in constant (1958) dollars!

Gross national product, totalf . bil. $__

Personal consumption expenditures, total.- _do_ _

Durable goods doNondurable goods doServices _ _ _ do

Gross private domestic investment, total do

Fixed investment _ _ doNonresidential doResidential structures do

Change in business inventories do

Net exports of goods and services _ _ _ _ d o

Govt. purchases of goods and services, total.. d o _ _ _ _Federal.. _ _ doState and local do

930.3

579.5

90.840.237.1

245.950.2

120. 620.9

242. 733.884.116.6

139.0

131. 198.534.264.332.632.07.87.7

1.955.553.6

210.098.878.4

111.2

922 5449. 7182 3267.4377.994.9

7.85 02 8

725. 6

469.1

85 6201 3182 2

110.5

103.880 123 76 7

.2

145.973 572.4

976. 4

616. 8

90.537.339.0

264.452.0

132.122.2

261. 836.390.918.2

137. 1

132.2100. 936.064.931.230.74.94.8

3.662.959 3

219.096.575.1

122 5

971 5467.0183 0284.0409 295.4

4.91 93 0

722. 1

477.0

83 1207 0186 8

104.0

99 977 e22 34 1

2.2

139.064 774.3

1,050.4

664.9

103.546.742.0

278.156.9

136.423.5

39.599.219.9

152.0

148.3105. 838.467.442.642.03.62.4

66! 165.4

232.897. 871.4

135.0

1 046 7491.8194 6297.3443 9111.0

3.61 12 5

741.7

495.4

92 1211 1192 2

108.6

105 976 829 12 6

.1

137.660 876.8

941.7

583.7

90 640.237.1

247. 350.7

120 821 2

245 834 085.016 8

143.8

133 2100.235.464 833.032 010 610.6

2.658.155 5

211. 699 379 4

112 3

931 1451 8183 0268 8383 2

96 1

10. 66 54 1

729.2

469 5

85 0201 2183 3

114.0

104 680 923 79 4

.7

145.172 379, 7

948. 9

594.4

91 440.637.5

251.151.1

122 621 5

251 935 187 217 1

137.9

132.3101. 435.865 730.930 55 55.4

2.759.256 5

214.099 478.9

114 6

943 4458 0184 7273 3391 993 4

5.53 71 9

725.1

472 2

85 4201 5185 2

107.4

102 880 921 94 6

.8

144. 671 573 1

958. 0

604.1

90 237.8OQ rr

257.851.1

128 021. 8

256 135.388.717 7

132.9

131.4100.235.564.831.230 61 51 4

3.661 557 9

217.399 778 9

117 6

956 4462 3184 4277 8400 693 5

1.51 0

5

720.4

474 1

83 8204 4185 9

102. 0

101 078 822 2

9

1.9

142.469 073 fl

971.7

613.4

91 639 238.8

262.451.8

131 222 0

259 435 990 118 0

137.7

131.4101.736.165 629.729 46 36 2

3.963 059 2

216. 796 274 7

120 5

965 5467 3185 2282 1405 193 1

6.31 64 7

723.2

476 9

84 7206 0186 2

105.6

100 078 921 1

5 6

2.0

138.664 873 8

..,986.3

623.0

92 639 438 8

266 351 7

133 922 3

264 136 991 418 5

139 9

133 7103 436 267 230 329 96 26 1

4.063 759 8

219.595 273 8

124 3

980 2472 7187 4285 2412 295 3

6.26 0

2

726.8

480 2

84 9207 7187 6

106. 2

101 379 322 04 9

2.9

137.562 974. fi

989.7

626.5

87 533 039 6

271 353 6

135 222 8

267 737 293 418 8

137 8

132 198 536.362 133 633 05 75 6

2.863 260 4

222.695 072 9

127 6

984 1465 6174 8290 7418 7

99 8

5.7n

6 6

718.0

476 5

78 9209 9187 8

102.2

97 473 623 94 8

1.9

137. 362 17K 1

1,023.4

648.0

99 844 941 0

273 455 1

135 123 0

274 838 095 819 3

143 9

139 0101 937 664 337 036 6

4 93 9

4.566 361 8

227.096 272 5

130 8

1 018 5482 2189 6292 6431 3105 0

4.93 71 2

731. 9

488 2

88 8210 0189 3

105. 0

101 275 325 93 8

2.7

136.160 275 Q

1,043.0

660.4

101 945 441 4

277 256 7

135 923 0

281 339 198 119 8

153 0

146 4105 038 366 741 440 9

6 65 1

.166 766 6

229. 596 371 2

133 3

1 036 4485 8191 0294 8441 1109 5

6.63 631

737.9

493 0

90 0211 2191 8

110.0

104 776 428 35 3

. -..7

135.759 77fi n

1,056.9

670.7

106 148 841 9

278 557 4

136 623 5

286 140 0

100 320 2

152 2

150 9106 338 767 644 543 91 3

— 2

.468 568 2

233.697 970 1

135 7

1 055 6496 2197 7298 5446 7112 7

1.31 02 3

742.5

497 4

94 2210 5192 8

107.3

106 676 430 1

7

.1

137.661 07fi 7

1,078.1

680.5

106 147 943 5

283 458 5

137 924 3

290 940 7

102 520 4

158 8

157 2109 838 871 047 346 71 7

8

-2.163 065 1

240.9100 771 9

140 2

1 076 4503 1200 1303 0456 3117 0

1.71 93 5

754. 5

503 2

95 4212 8195 0

112. 0

111 379 232 l

7

-1.8

141.162 378 8

1,109.1

696.1

111 049 946 5

288 359 4

140 324 6

296 741 2

104 221 0

168 1

167 7116 141 374 851 651 0

41

-4.670 775 3

249.4105 776 7

143 7

1 108 6517 2208 8308 4467 3124 2

.44

'o

766.5

511 0

98 6214 7197 7

116.6

116 382 234 2

3

-3. 3

142.262 87Q 4

1,139.4

713. 4

113 951 346 8

297 261 5

144 124 5

302 442 7

106 121 5

177 0

172 0119.242. 077.252.852 15.04.3

—5.270.075 2

254.1108.178.6

146 0

1 134 4532 1214 6317.5477 3125. 0

5.03 02 1

783. 9

520.9

100 7220 1200 0

122.0

118. 083 634 43 9

—2.8

143.963 780.3

1, 162. 2

728 1

118 454 748 0

301 462 3

145 625 7

308 343 9

108 221 9

181 0

175 3121 141 679 454 253 45 75 3

-3.475.078 4

256. 6106.275.2

150 4

1 156 6543 1220 7322 4487 5126 0

5.71 54 1

795.3

528. 7

104 4221 7202 6

123. 9

119.484.435.04.5

-..8

143. 661.681.9

T Revised. *> Preliminary. fRevised series. Estimates of national income and productand personal income have been revised back to 1969 (see p. 16 ff. of the July 1972 SURVEY);

revisions prior to May 1971 for personal income appear on pp. 25-26 of the July 1972 SURVEY.9 Includes data not shown separately.

s-i478-721 O - 72 - SI


S-2 SUEVEY OF CURRENT BUSINESS October 1972


1969 | 1970 | 1971

Annual total

1969

IV

1970

I II III IV

1971

I II III IV

1972

I II III? IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

NATIONAL INCOME AND PRODUCT— Con.Quarterly Data Seasonally Adjusted at Annual RatesNational income totalf bil. $_.

Compensation of employees, total f do

Wages and salaries, total _ _ do__ _Private - - _ _ _ _ __doMilitary - _ _ _ _ d oGovernment civilian do

Supplements to wages and salaries __ __doProprietors' income, total 9 _ _ _ _ _ _ d o

Business and professional 9 doFarm do

Rental income of persons __do

Corporate profits and inventory valuation adjust-ment total bil. $

By broad industry groups:Financial institutions doNonfinancial corporations, total do __

Manufacturing, total _ _ __do_Nondurable goods industries doDurable goods industries _ _ do i_

Transportation, communication, and publicutilities- - -bil. $_.

All other industries - do

Corporate profits before tax, total doCorporate profits tax liability do _Corporate profits after tax _ _ _ __do

Dividends doUndistributed profits __do

Inventory valuation adjustment doNet interest - - - doDISPOSITION OF PERSONAL INCOME f

Quarterly Data Seasonally Adjusted at Annual RatesPersonal income total bil. $Less' Personal tax and nontax payments doEquals' Disposable personal income _ _ __doLess' Personal outlays© doEquals' Personal saving§ _ _ _ __do

NEW PLANT AND EQUIPMENTEXPENDITURES

Unadjusted quarterly or annual totals:4.11 industries bil. $

Manufacturing . _-doDurable goods industries 1 doNondurable goods industries ^ do

Nonmanufacturing doMining - - . _ ;. doRailroad - - do....Air transportation doOther transportation ..doPublic utilities . . . _.do_._

Electric doGas and other do

Commercial and other do

Seas. adj. qtrly. totals at annual rates:All industries . - ..do

Manufacturing doDurable goods industries If doNondurable goods industries f do

Nonmanufacturing doMining doRailroad doAir transportation doOther transportation doPublic utilities do

Electric doGas and other do

Communication _ doCommercial and other do

U.S. BALANCE OF INTERNATIONALPAYMENTSd"

Quarterly Data Are Seasonally Adjusted(Credits -H debits -)

Exports of goods and services (excl. transfers undermilitarv grants) mil $

Transfers under U.S. military agency sales con-tracts mil $

Receipts of income on U.S. investmentsabroad __mil. $.

Other services do_ .

Imports of goods and services. ., doero d. uuoo, ctujubie , . y ~. -

Payments of income on foreign investments in theU.S . .. mil. $_

Other services.— do _ _

Balance on goods and services, total do. . .Merchandise, adiusted. excl. militarv do

766.0

566.0

509.7405.6

19.085.156.367.250.516.722.6

79. 8

12.467.436.617.718.8

10.120.7

84.940.144.824.320.5

—5 130.5

750. 9116.5634.4596.238.2

75.5631.6815.9615.72

43.881.861.862.511.68

11.618.942.678.30

16.05

55, 50236,417

1,512

10, 5397,034

-53, 59-35, 796-4,856

-4, 564-8, 376

1,911621

798.6

603.8

541.9426.819.695.561. 966.849. 916.923.3

69.9

14.555.427.716.711.0

7.620. 1

74.334.140.224.815.4

—4 434. 8

806.3116. 7689.5634.754.9

. 79.7131.9515. 8016.15

47.761.891.783.031.23

13.1410.652.49

10.1016.59

62,87041, 963

1,478

11, 4268,004

-59,307-39, 799-4,852

-5, 167-9, 491

3,5632,164

855.7

644.1

573. 5449.7

19.4104.470.770.052.617.324.5

78.6

16.761.930.916.814.1

8.222.9

83.337.345.925.420.5

—4.738.5

861.4117.0744.4683.4

60.9

81. 2129.9914.1515.84

51.222.161.671.881.38

15. 3012.862.44

10.7718.05

66, 13342, 770

1,922

12, 8988, 543

-65,406-45, 459-4,816

-4, 903-10, 227

727-2,689

781. 0

585. 2

526.8418.619.688.558.467.249.817.422.9

73.5

12.461.132.817.115.7

9.319.0

80.538.442.124.717.4

-7.132.3

774.3118.2656.1611.644.6

21.469.124.594.53

12.34.49.55.64.44

3.232.61.62

2.394.60

77.8432.3915.8816.50

45.461.851.942.801.63

11.809.362.448.76

16.67

14,8009,871

336

2,7751,818

-14, 129-9, 381-1,251

-1,315-2, 182

671490

787.5

594. 3

534.9422.520.292.259.567. 749.718.023.0

69. 3

12.856.529.416.413.1

8.019.1

75.834.341.424.816.6

-6.433.2

785.7117.8667.9621.646.3

17.477.143.593.56

10.32.45.42.73.28

2.542.15.39

2.143.76

78.2232.4416.4016.05

45.781.921.742.941.37

12.149.772.379.14

16.52

15,37510,231

273

2, 9361,935

-14,477-9, 731-1, 180

-1, 344-2, 222

898500

796.7

600.7

539.5425.119.694.761.267.150.017.123.2

71.5

14.057.529.917.013.0

7.420.1

75.234.640.624.715.8

-3.734.2

806.1119.0687.2631.255.9

20.338.154.084.07

12.18.47.47.80.31

3.282.59.69

2.594.26

80.2232.4316.3216.11

47.791.841.882.881.12

12.7210.152.57

10.3816.98

15,76210,565

441

2,7791,977

-14, 795-9, 831-1, 259

-1,322-2, 383

967734

806.3

609.0

546.1430.019.496.762.866.650.116.523.4

72.0

15.057.028.917.211.7

7.820.3

76.635.441.224.916.3

-4.635.3

813.4114.3699.1641. 158.0

20.267.993.874.12

12. 27.46.46.74.30

3.582.79.78

2.564.16

81.8832.1515.7416.40

49.731.861.963.241.22

13.8411.342.50

10.6217.00

15,93210,705

329

2,8632,035

-14, 943-9, 968-1, 210

-1,284-2, 481

989737

804. 1

611. 2

547.2429.719.098.563.965.849.915.923.8

66.9

16. 150.822.616.46.2

7.220.9

69.632.237.424.712.7

-2.836.5

819. 8115.8704.0644.859.2

21.668.664.264.40

12.99.50.43.76.33

3.743.12.63

2.814.42

78. 6330.9814.9216.05

47.661.941.563.081.22

13.6811.202.48

10.2015.97

15,80510,462

436

2,8502,057

-15, 093-10, 269-1, 203

-1, 217-2, 404

712193

834.5

628.6

560.4439.319.8

101.368.268.151.316.823.9

76.6

16.659.930.916.614.3

7.821.2

81.338.043.225.517.7

—4.737.3

838.0112.3725. 7666.459.3

17.686.693.113.58

10.99.49.34.34.28

3.112.70.41

2.503.94

79. 3230. 4614.2116.25

48.86^2.041.461.291.33

14. 6412.162.48

10.7017.39

16,58011,017

510

2,9372,116

-15, 444-10, 728

1 175

-1, 139-2, 402

1,136289

851.4

639.6

569.6447.019.4

103.370.069.352.416.924.4

80.1

16.463.731.216.814.4

8.823.7

84.538. 645.825.420.4

—4.438.1

858.1115.2742. 9678. 864.1

20.607.553. 524.03

13.06.54.47.60.36

3.833.20.63

2.814.44

81.6130. 1214.0616.06

51.502.081.882.281 40

14.9112.612.30

11.2117. 72

16,67510,710

516

3,2972,152

-16, 639-11, 722-1,214

^1, 106—2, 597

36-1,012

860.8

648. 0

576. 5451.618. 8

106.071.570.753.117.624.8

78.3

17.061.330.116.913.3

8.522.6

84.137.546.625.521.0

-5.839.1

867.9117.5750. 4689.461.0

20.147.313.403.91

12.83.55.42.39.37

4.073.35.71

2.624.42

80.7529.1913.7615.43

51.562.231.721.681.48

15.8713.562.30

10.7317.85

17,13311,479

474

3,0152,165

-17,042-11, 951-1, 198

-1, 304--2,589

91-472

876.2

660.4

587.3460.919.4

107.073.071.853.818.125.0

79.4

16.662.731.216.914.3

7.623.9

83.235.348.025.222.7

—3 939.7

881.5123.0758.5699.259.3

22.798.444.124.32

14.35.59.45.56. 37

4.293,60,69

2,845.26

83.1830. 3514.6115.74

52.822.301.642.261.33

15.7413. 012.74

10. 4419.10

15,7489,584

423

3,6512,110

-16, 285-11, 058-1,230

-1, 356

-537-1,494

903.1

682.7

606.6475.820.8

110.076.173.354.319.125.2

81.8

16.565.235.417.717.7

7.822.0

' 88 238.849.526.023.5

—6 540.1

907.0136.5770. 5714.955.7

19. 386.613.293.32

12.77.58.48.50.32

3.633.19.44

2.724.55

86.7930.0915.0615. 02

56.702.422.101.961.48

16.9214.272.65li. 7120.10

17,76311,809

334

3,2492,371

-18,937-13,482-1,218

-1,387-2, 850

-1, 174-1,673

922.1

697.8

620.0487.120.5

112.477.873.254.418.724.2

86.1

17.568.537.017.619.4

8.822.8

91 640.151.526. 225.3

—5 540.9

922.1139.5782.6732.550.1

22.017.633.713.92

14.38.61.48.73.39

4.243.61.62

2.954.98

87. 1230.3714. 7715.60

56.752.381.882.891.53

16.6014.322.27

11.5919.88

?17,347*>11,463

*322

"3, 207*>2, 355

P -18,89P -13,39p-1,23

p-1,39"-2,87

p-1,54p-1,92

709.7

630. 2494.520.3

115.379.575.356.219.126.2

26.5

—6 141.7

939.5140.8798.7747. 451.3

122.568.154.004.15

14.41.60.43.58.37

4.503.62.84

27.92

190.3832.6216.2216.40

57.762.461.712.571.49

17.3614.602.75

232.19

1 25. 169.274.694. 58

15. 89.65.43.70.30

4.964.11.85

28.86

191.8433.2216.5816.65

58.612.521.562.591.10

18.3615, 033. 32

232.49

f Revised. » Preliminary. 1 Estimates (corrected for systematic biases) for July-Sept, and Oct.-Dee. 1972 based on expected capital expenditures of business. Expected ex-penditures for the year 1972 appear on p. 17 of the Sept. 1972 SURVEY. 2 includes com-munication, f See corresponding note on p. S-l. 9 Includes inventory valuationadjustment. © Personal outlays comprise personal consumption expenditures, interest

paid by consumers, and personal transfer payments to foreigners. § Personal saving isexcess of disposable income over personal outlays.

IfData for individual durable and nondurable goods industries components appear in theMar., June, Sept., and Dec. issues of the SURVEY. cfMore complete details appear in thequarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.


October 1972 SURVEY OF CUKEENT BUSINESS S-3


1969 1970 1971

Annual total

1969

III IV

1970

I II III IV

1971

I II III IV

1972

I'- ll I ' - ll!

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

U.S. BALANCE OF INTERNATIONALPAYMENTS— Con.

Quarterly Data Are Seasonally AdjustedUnilateral transactions (excl. military grants), net

mil. $..Balance on current account doLong-term capital, net:

U.S. Government _ do. _Private. do

Balance on current account and long-term capital. mil. $..

Nonliquid short-term private capital flows, netmil. $..

Allocation of special drawing rights (SDR) .do _Errors and omissions, net .do

Net liquidity balance. _ doLiquid private capital flows, net doOfficial reserve transactions balance doChanges in:

Liabilities to foreign official agencies:Nonliquid _ _ _ . . doLiquid. do

U.S. official reserve assets, net doLquiidity balance, excluding SDR do


-2,946-1,035

-1,926-50

-3,011

-640

-2,470

-6, 1228,8242,702

-998-517

-1, 187-6,958

1970

-3,207356

-2,018-1,398

-3,059

-482867

-1, 174

-3,851-5, 988-9, 839

-2757,6372,477

-4,741

1971

Annual

-3,574-2,847

-2,378-4, 149

-9,374

^2,420717

-10,927

-22,002-7,763

-29, 765

-19827,6152,348

-23, 989

-702-40

-708-379

-1,127

-5

-942

-2, 0741,578-496

-5151,697-686

-2, 458

-747-76

-192675

407

-204

203

406574980

-145-681-154

403

-765133

-462-922

-1,251

-247217

-51

-1, 332-1,461-2, 793

-4202, 949

264-1,684

-773194

-563-236

* -605

-56217

-410

-854-1,211-2,065

500760805

-722

1971

Aug. Sept. Oct. Nov. Dec.

-821168

-324-191

-347

42217

-677

-765-1, 104-1,869

-2451,530

584-1,231

-849-137

-670-49

-856

-221216

-37

-898-2, 212-3, 110

-1112,397

824-1,103

-791345

-702-922

-1,279

-534180

-944

-2, 577-2, 848-5, 425

-2094,952

682-3,238

-846-810

-584-1,605

-2,999

-315179

-2,586

-5,721-745

-6,466

-1685,975

659-5, 973

-946-855

-558-1,883

-3, 296

-883179

-5, 380

-9,380-2,551-11,931

-18210, 9191,194

-10,296

-992-1,529

-533260

-1,802

-688179

-2,018

-4, 329-1,619-5, 948

3615,774-187

-4, 487

-990-2,164

-343-1,077

-3,584

-538178850

-3,094-162

-3, 256

2632, 564

429-3, 722

-895-2,442

-134659

-1,917

412178

-1,077

-2,4041,541-863

-51,099-231

-2, 208

1972

Jan. Feb. Mar. Apr. May June July Aug. Sept.?

GENERAL BUSINESS INDICATORS—Monthly Series

PERSONAL INCOME, BY SOURCE f

Seasonally adjusted, at annual rates:TotaF personal income bil $

Wage and salary disbursements, total do1 Commodity-producing industries, total.do____

Manufacturing _ _ _ do _Distributive industries __do

Service industries.. _ _doGovernment do

Other labor income doProprietors' income:

Business and professional doFarm _ do

Rental income o f persons... _ . _ _ _ _ _ d oDividends doPersonal interest income doTransfer payments. _ _ _ d o _ _Less personal contributions for social insurance

bil. $..

Total nonagri cultural income do

FARM INCOME AND MARKETINGS t

Cash receipts from farming, including Governmentpayments total J mil $

Farm marketings and CCC loans, total- ...doCrops doLivestock and products, total 9 -_ do__

Dairy products doMeat animals.. _ ..doPoultry and eggs do

Indexes of cash receipts from marketings and CCCloans, unadjusted: J

All commodities _ 1967=100Crops doLivestock and products - _ do

Indexes of volume of farm marketings, unadjusted: tAll commodities .. .1967=100

Crops _ _ _ _ _ _ do__.Liêstock and products do

INDUSTRIAL PRODUCTION rf

Federal Reserve Board Index of Quantity Output

Unadjusted, total index d* 1967=100By market groupings:

Final products ._ doConsumer goods do

Automotive products do. .Home goods and clothing. _ ...... .do

Equipment do

Materials do. ..

By industry groupings :Manufacturing do ._

Durable manufactures doNondurable manufactures. _ _ do

Mining and utilities _.. do

806.3

541.9201.0158.3129.2

96.7115.132. 1

49.916.9

23.324.865.879.5

28.0

782.8

54, 239

50, 52220, 90729, 6156,533

18,4974,305

118113122

108112104

» 106. 7

104.5110.399.9

104.796.3

107.7

105.2101. 5110.3

118.0

861 4

572.9206.1160.3138.2

105.0123.536.5

52.617.3

24. 525.469.693.6

31.2

837.2

56,208

53, 06322, 60930, 4546,815

19, 3904,000

124123126

111115107

*106. 8

104.7115.7119.5107.489.4

107.4

105. 299.4

113.5

118.9

869. 1

577.2205.5159.5139.3

106.3126.137.2

53.117.6

24.925.670.294.7

31.4

844.7

4 683

4,3271,7512,576

5511,634

372

122114127

110111109

105.8

105.5118.4102. 0110.287.5

103.1

103.594.3

116.8

123. 5

872 2

577.9206.9160 4140.2

106.8124.037.5

53.417.9

, 24. 925.570.596.1

31.5

847.6

4 944

4,8882 1532,735

5481,807

361

137140135

124136115

110.3

110.6124.2128.7113. 491.7

107.3

108. 8101. 0120. 0

122.8

874 8

579 9207.9161 3140.4

107.5124.037.8

53.618.0

24.925.570.596.2

31.6

850.0

6 477

6,4053 4382,967

5732,025

352

180224147

161212122

110.3

109.7123.0135. 9116. 391.1

108.2

109.7102.4120.2

114.2

879 4

583 4208.8161 7140.8

108.2125.538.0

53.818.1

25.025.570.696.8

31.8

854.5

6 306

6,2673 4942,773

5611,853

343

176227137

162225114

107.7

105.9117.2123.9109.790.1

107.6

106.899.8

116. 8

113.9

890 4

594 3213. 1165.1143.8

109. 4128.038.3

53.918.1

25.124.670.797.6

32.3

865.0

5 432

5,1572 5982! 559

5981,593

343

145169127

131167105

104.5

101.2109.9102. 5101.489.0

106.9

102. 797.1

110.9

118.1

898 9

602.6214.8165. 8145.5

111.2131.238.5

54.018.6

25.126.070.897.6

34.3

873.4

4 792

4, 7412 1212,620

5941,706

296

133138130

117137102

106.6

104.4115.7120.7108. 588 6

108.3

104.799.2

112.6

121.0

908 5

609 0217.7169 3148 1

111.6131.738.8

54.119.1

25.226.171.0

100.0

34.7

882.4

3 798

3,7811 1912* 590

5561,722

289

10677

128

867197

110. 3

107.7119 4126 5114.291 4

112.4

109. 0103. 8116.4

121.1

913 6

612 4220.1171 3148 0

112. 8131.539.1

54.719.5

25.326.071.3

100.1

34.8

887.1

3 848

3,8351 0652*770'614

1,801334

10869

137

8660

106

111.6

108.3119 2126.3114.193 1

114.5

110.5105.5117. 8

120.7

919 4

617 6221.7173 3149 4

113. 9132.539.5

54.919.1

25.526.172.099.7

35.0

893.4

3 619

3,498947

2 551601

1 629295

9862

126

7848

101

113.6

110.2122 4138.2118.793 2

116.6

112.7107. 5120.2

120.4

924 0

619 9222.5173 8149 4

114.7133.239.8

55.318.7

25.626. 372.7

100. 9

35.1

898.3

3 767

3,750920

2 830'621

1 877304

10560

140

8146

108

113 4

108 5119 6132 6113 293 1

117 7

112 7107.6120.0

120.0

922 9

624 0223.5175 0151 4

115.5133. 640.1

53.218.4

21.526. 373.4

101.3

35.3

897.5

3 985

3,9681 1522 816'596

1 857334

11275

139

9169

107

T 116 5

113.3T 126 0

133 5' 120 6

r 95 6

r 118 7

115 7109. 4

r 124. 9

r 122. 9

932 9

695 7222. 4174 5151 9

116.9' 134.5

40. 5

55.718.6

25.826.473.5

102.2

35.5

907.3

7 303

4,3981 6792 719

5821,803

316

124109134

102102102

' 109 0

r 106. 2r 116 8'92 8' 106. 8'91 3

r 109 2

r 106 9' 100. 0' 116. 9

' 124. 6

r 940 0

r 630 6225. 2

r 176 6' 152 3

'•117.3r 135. 8

40.8

'56.3'19.1

'26.o26.6

'73.4' 102. 8

'35.8

* 914. 0

5 423

4,8101 8572 953

5841,972

376

135121146

109109110

T 114. 6

'111.7' 124 6' 106. 5' 118. 7'93 7

r 115. 5

' 113. 0' 104. 9' 124. 8

' 126. 5

945 7

634 8227.2178 4152 6

118.2136.741.1

56.719.5

26.526.573.3

103.3

36.0

919.4

5,4202 3463 074

5852,082

387

152153152

118127111

118 8

117.1131 0136 6121.597 6

118.6

117.6110.6127.7

128.0

beginning 1969; monthly data prior to May 1971 appear in the Farm Income Situation, July1972, available from the U.S. Dept. of Agriculture, Economic Research Service. 9 In-cludes data for items not shown separately.

cfSeries revised back to 1970 to reflect new seasonal adjustment factors and productionlevels. Monthly revisions for seasonally adjusted data are available upon request; those forunadjusted data will be shown later.


S-4 SURVEY OF CURRENT BUSINESS October 1972


1970 1971 P

Annual

1971


1972

Jan. Feb. Mar. Apr. May June July Aug. Sept. v

GENERAL BUSINESS INDICATORS—Continued

INDUSTRIAL PRODUCTION!— Continued

Federal Reserve Index of Quantity Output— Con.

Seasonally adjusted total index t 1967=100..B y market groupings: J

Products total doFinal products do

Consumer goods do .

Durable consumer goods doAutomotive products do

Autos -do ..-Auto parts and allied goods do

Home goods 9 doAppliances, TV, and radios doCarpeting and furniture do

Nondurable consumer goods do ...Clothing doConsumer staples . do

Consumer foods and tobacco. . .doNonfood staples -do

Equipment _do__.~.Business equipment do _ _

Industrial equipment 9 ..doBuilding an d mining equipment.doManufacturing equipment do

Commercial transit, farm eq 9 - doC ommercial equipment doTransit equipment do

Defense and space equipment do

Intermediate products do . .Construction products - doMisc intermediate products do

Materials - -- doDurable goods materials 9 do

Consumer durable parts doEquipment parts do

Nondurable goods materials 9 - - doTextile, paper, and chem. materials, .do

Fuel and power, industrial do

By industry groupings :JManufacturing total do

D urable manufactures doPrimary and fabricated metals do

Primary metals - ..doIron and steel ..do

Fabricated metal products do

Machinery and allied goods 9 --doMachinery do

Nonelectrical machinery doElectrical machinery . do

Transportation equipment . doMotor vehicles and parts doAerospace and misc. trans, eq do

Instruments -- do

Lumber clay and glass do

Clav glass and stone products do

Furniture and miscellaneous do....

Miscellaneous manufactures ... .do

Nondurable manufactures doTextiles apparel and leather do

Textile mill products -do

Leather products do

Paper and printing doPaDer and products doPrinting and publishing do

Chemicals, petroleum, and rubber. ..doChemicals and products doPetroleum products doRubber and plastics products do

Foods and tobacco. ...doFoods .--- do

Mining and utilities doMining - -do

M0tal mining doStone and earth minerals doCoal, oil and gas do

Coal doOil and gas extraction do

Crude oil -do

Utilities -- doElectric --- - doGas.. - ----- do

106.7

106.0104.5110.3

104.899.986.6

125.6

107.6103.4108.4

112.4101.3115.4110.6120.4

96.3101.498.495.991.9

104.8112.694.4

87.9

111.7110.0113.0

107.7103.396.594.7

112. 5113. 0116.7

105. 2101.5108.1106.9105.3109.8109.4

97. 6100.3100.5100.1

90.496.984.1

110.8

106.4106.3106.4

108.899.4

117.3

110.6100.2106.397.890.8

107.8113.3104. 1

118.2120.3112.6115.7

110.9111.7100.0

118.0109.7131.398.8

109. 2105.7109.7109.4

128. 3130.6121.0

106. 8

106.4104.7115.7

115.1119.5108.3140. 9

112.6111.5117.2

116. 0101.4119.8113.6126.3

89.496.892.992.982.6

101.2110.089.4

77.1

112.6112.6112.6

107.4101.7104.287.1

114.1116.6116.3

105.299.4

104.0100.996.6

108.7107.5

94.996.294.398.3

92.9114.172.5

108.5

111.5113.9110.0

111.7102. 1120.5

113.6100.7108.697.887.4

107.8115.8102.5

124.8126.4115.7126.0

113.7114. 997.7

118.9107.0121.493.2

107,699.8

108.9108.3

133.9138. 1119. 8

105.6

106.1104.8115.9

117.3122.3108.5148.9

114.4112.4121.7

115.4100.3119.4112.8126.4

89.597.592.896.481.5

102.8111.190.7

76.3

110.9109.3112.1

104.896.5

105.683.1

114.7117. 7117.4

104. 297.494.081.266.5

106.9108.2

95.496.795.597.9

93.9116.372.3

109.1

,111.0-113.9109.3

114.0105. 2122.0

114.0100.8110. 597.484.2

108,1117.5101.7

126.3127.7115.8129.9

, 113.1114.198,2

118. 6106.3104.8

91.4108.7110.7108.4107. 0

134.1138.6119.6

107.1

107.0105.5116.7

117.1122.9108.0151.5

113.8110.4121.9

116.5103.6119.9114.1126.1

89.898.293.296.682.1

104.0113. 190.8

76.0

112.3111.5112.9

107.3100.6103.387.1

114.7118. 8119.5

105.799.399.593.885.9

108.9105.9

96.297.997.099.0

94.2115.873.4

110.5

112.1114.8110.6

114.2105.3122.2

115.1102.5111.099.587.7

108.2116.2102.9

127.5129.9113.7129.6

114.2115.2100.3

118.3105.9109.790.1

107.9111.0107.4104.7

134.0138.6118.7

106.8

107.0105.4116.6

116.8121.9107.8149. 0

113. 9109.7120. 7

116.6103.2120.2113.9126.7

89.898. 293.595.583.1

103.6112.291.1

75.7

113.2112.8113.5

106.6102. 2104.188.1

115.0119.098.7

106.1100.1101.396.189.4

108.3107.1

96.698.397.499.3

94.5116.073.7

111.2

113.2118.2110.1

114.0104.5122.6

114.7102.3110.1100.087.4

109.4116.9104.3

126.6128.4115.7129. 1

113.3114.498.5

114.397.7

117.191.796.629.5

107.1105.4

135.2140.6117.6

107.4

107.9106. 1118.0

116.0119. 7109.2140.1

113.8110.5122.2

118.8103.7122.8117.2128.6

89.697.994.295.283.5

102.1110.289.4

75.. 9

114.3114.2114.4

106.5100.5101.887.3

115. 9121.5104.6

106.099.198.891.481.9

109.9107. 1

95.997.895.999.9

93.4115.772.0

110.4

113. 7119.4110.4

113. 3105.4120.5

115.9101.8110.299.883.3

110.5119. 2104.5

127.9130.8116.0127.7

115.8117.198.2

117.4102.5136.793.4

100.455.7

107.4105.0

136.0141.9116.7

108.1

108.0106.2118.0

117.4119.9109,4140.0

116.0116.9120.4

118.4105.0121.9115.5128.7

89.698.094.294.083.8

102.4109.493.1

75.6

114.9115.2114.5

108.4101. 6104.087.9

116.7123.0117.6

106.299.5

100.694.385.5

113.1107.6

95.697.994.8

101.3

92.7116.170.1

109.3

114.8121.7110.7

114.3103.8123.9

116.0103.1112.699.787.1

110.7119.8104.7

127. 9130.4118.3126.6

115.0116. 693.8

120.1107.8137.792.7

107.1112.4106.3104.2

135.8141.9115.5

108.7

108.4106.4118.5

117.5116.6102.8143. 4

118. 1123.8121.7

119.0105.8122.5115.4129. 8

89.598.494.198.082.4

103.3109.195.1

74.8

115.9115.7116.1

109.2103.5105.188.8

116. 0120.8117.4

107. 1100.4104.0102.495.2

116.0106.0

95.798.595.1

102.2

92.0114,070.8

111.3

115.5122.0111.6

115.0104.0125.1

116.8102.0108.999.889.6

111.3122.2103.9

129.8131.2119.3133.3

115.7116.5103.8

120. 6107.3128.993.8

107.1106.3107.2104.0

137.4141.2124. 7

110.0

109. 5107.6119.6

120. 3119.5106.4144. 5

120.7123.1126. 1

119.3102. 7123.7115. 5132.4

90.999.995.499.683.4

105.1111.994.7

76.0

117.0115. 8118.0

110. 8105. 8107. 190.7

117. 0121.5117.7

108.5102.1105. 4102.695.9

114.4108.6

97.399.596.2

103.2

94.7117.772.7

114.5

118.0119.7117.0

117.3108.4125.4

117.8101.1107.0100.186.9

112.6122.8105.8

132.6135.1118.7135. 0

115.9116.9102.5

121.6107.2133.793.5

106.599.6

107.6104.2

139.7144.4123. 8

111.2

110.1108. 2119.6

118. 9119.3104.6147.5

118.7115.1127.1

119.9105. 0123.9116.3132.0

92.4101.396.3

101.284.5

107.0114.795.4

77. 6

117.3115.9118.5

113.1107.8110.291.0

119.8125.0118.9

109.7103.4107.4105.198.8

116.6110.1

98.4100.397.6

103.3

95.9118.873.9

114.2

118.1119. 6117.2

118.4108.7127.2

118.8103. 7110.9102.785.4

112.6122.5105.9

133.4135.7117.9138.1

116.3117.5101.9

122.3108.5131.092.7

108.6104.1109.3106.9

139. 7144.8

112.8

111.4109.8122.0

125.9128.9114.3157.0

124.2132.2131.3

120.5105.0124.6116. 8132.8

92.7101.395.798.484.9

107.6114.197.0

78.5

117.3116.5118.0

115.0110.4113.895.4

120.6125.9121.6

111. 8105.8110.4110. 2105. 5118. 6110.8

101. 1,102. 6

98.6107.1

100.4125.676.1

116. 1

118.1119.9117. 1

119. 9111.7127.4

120. 3106. 1113.5103.394.4

112.3124.4104.2

136. 1137.9117.0144.7

117. 6118.6103.9

122.9109.0122.292.6

110.0112.9109.6108.1

140.2145.6

113.2

112.1110.2122.2

125.3127.4111.3158.3

124.3129.3132. 0

121.0106.2124.9117.2133. 1

93.4102.596.397.085.9

109.6116.498.9

78.2

119.3118. 0120.4

115.6111.1112. 095.3

121.3127.1120. 7

112.3106.3112.7113.5108.3121.6111.9

101.0103.0100.4105.9

98.9122.676.1

117. 3

118.2119.1117.5

120.6110.7129.6

120.8104.9112.8102.889.2

114. 1127.2105.3

137. 5138. 9119. 5146.5

117.1118. 599.1

122.6107.9110.791.7

109.9105.0110.7109. 5

141.1147. 1

113.4

' 112. 0' 110. 1r 122. 1

' 128. 0125.7108.2

r 159. 3

r 126.1125. 9134.0

' 120. 6r 106. 8r 124. 3' 116. 8r 132. 2

93.3r 102. 4

97.298.386.7

' 108. 4116.7"•94.4

' 78. 3

' 119. 1' 117. 8r 120. 2

' 116. 1r 111.1' 112. 0' 95. 3122.5

' 128. 5121.7

r 112. 6106.8

' 112. 1'111.9' 104. 9' 122. 5

112. 3

r 101. 6' 104. 8' 101. 8' 108. 0

97.4'119.3

76.4119.3

' 119. 0121. 8

r 117. 4

122.1' 112. 8' 130. 6

121.3' 105. 9r 113. 9

103.0' 92. 2

' 115. 1126.7

* 107. 3

' 137. 1r 139. 5

117.3r- 145. 0

117.6119.396.4

122.7r 108. 2r 102. 9

'97.4' 110. 5' 109. 1

110.7108.9

' 140. 9r 146. 8

113. 7

r 112. 2110.1

r 122. 1

r 124.7' 124. 7

108.2••156. 9

124. 7r 121. 6' 132. 6

r 121. 0107. 2

r 124. 6' 115. 9' 133. 8

r 93. 5' 102. 3

r 97. 0

'"100.1' 87. 1

' 108. 3' 117. 3'92.4

'78.9

' 119. 8' 118. 0' 121. 1

' 116. 3' 110. 6' 110. 9

96.8' 123. 4' 130. 6' 123. 5

113. 0' 107. 5'. 113. 4'113.7' 107. 7' 119. 1' 113. 2

' 102. 1' 105. 1' 102. 9' 107. 5

98.2' 121. 3'75.9

' 119. 8

' 119. 0' 121. 5' 117. 6

' 123. 7' 115. 5' 131. 0

'121.0' 104. 4' 112. 8

101.3' 90. 2

' 116. 2' 129. 6' 107. 2

' 137. 6'139.6' 119. 5'144.3

' 116. 4' 117. 9

96.7

' 123. 0' 107. 3' 102. 4'91.4

' 110. 3' 109. 1' 110. 5' 107. 4

' 142. 4' 148. 4

'114.5

' 112. 4' 110. 6' 121. 9

' 125. 3' 126. 0

109.5' 157. 9

' 125. 1120.4136. 2

' 120. 5

' 124. 1' 116. 0' 132. 9

94.6' 103. 4'98.1

' 101. 5'88.0

109. 4' 118. 5'92.8

'79.9

' 119. 4' 117. 2

121. 3

' 117. 9' 113. 7' 118. 9' 98. 4

'123.0' 130. 7

123.1

' 113. 4' 107. 8' 113. 0' 112. 1' 105. 4

123. 3'113.8

' 102. 7' 105. 7' 103. 8' 107. 9

'98.4' 121. 8'75.9

' 119. 9

' 119. 8123.0117.9

' 124. 9116.1132.8

' 121. 5' 105. 9

115.7

84.1

' 115. 0127.2

'106.6

' 139. 4' 142. 0

120.2146.0

'116.3' 117. 7

' 122. 1' 106. 5

117.691.8

' 107. 6'97.2

' 109. 3105.6

' 141. 7' 147. 1

115. 2

113.0111. 2122. 5

124.2126.1109.6157. 7

123.2

121. 8

125. 5117.2134.2

95.6104.799.0

102. 989.0

111.2120.993.5

80.4

119. 3117.5

118. 6114.6118.398.6

123.7131. 6123.7

114.1108.3114.1113.8108.3

114. 5

103.1106.0104.9107.1

99.2121.477.7 .

120. 0

120.3

124.1

122.5107.2

115. 1

106.8

140.6143.2

117.2118.5

123.3108. 1

109. 2104.7109. 9

,142.4147.8

9 Includes data for items not shown separately. t Revised data for 1966-71 for the indi-cated series appear on pp. 24-25 of the Oct. 1972 SURVEY. See also notes marked "J" on pp. S-llandS-12.

•} See note marked "&" on p. S-3.


October 1972 SURVEY OF CUKRENT BUSINESS S-5


1970 1971

Annual

^1971


1972

Jan. Feb. Mar. Apr. May June July Aug. Sept.

GENERAL BUSINESS INDICATORS—ContinuedBUSINESS SALES §

Mfg. and trade sales (unadj.), total f _ mil. $_.

Mfg. and trade sales (seas, adj.), total t - -- do. _

Manufacturing, total:}: _ _ _ _ _ _ _ doDurable goods industries .... _ _ _ d o _ _Nondurable goods industries _ _ _ do

Retail trade, total t - - - - - - - doDurable goods stores _ _ _ doNOD durable goods stores. _ ~ _ _ _ _ do

Merchant wholesalers, total _ _ _ _ _ _ d o _ _ _Durable goods establishments _doNondurable goods establishments do

BUSINESS INVENTORIES §

Mfg. and trade inventories, book value, end of yearor month (unadj.), total f mil. $._

Mfg. and trade inventories, book value, end of yearor month (seas, adj.) .total t -- mil. $_.

Manufacturing, totalf do_Durable goods in dus t r ies_________ ^doNondurable goods industries. do

Retail trade, total f do.__.Durable goods stores __ _ _ doNondurable goods stores _ _ _ - _ do_ .

Merchant wholesalers, total doDurable goods establishments ... ___ _ _ _ d o _Non durable goods establishments _ _ do

BUSINESS INVENTORY-SALES RATIOS

Manufacturing and trade, total t _ . ratio

Manufacturing, total t_ - doDurable goods industries do

Materials and supplies doWork in process. _ _ _ _ _ _ _ do _Finished goods - do

Nondurable goods industries doMaterials and supplies doWork in process doFinished goods do

Retail trade, total t doDurable goods stores doNondurable goods stores do

Merchant wholesalers, total.- ... doDurable goods establishments doNondurable goods establishments d o _ _ _ _

MANUFACTURERS' SALES, INVENTORIES,AND ORDERS

Manufacturers' export sales:Durable goods industries:

Unadjusted, total.. mil. $Seasonally adj., total do

Shipments (not seas. adj.), totalf do

Durable goods industries, total 9 J ... doStone, clay, and glass products doPrimary metals do

Blast furnaces, steel mills doNonferrous metals do

Fabricated metal products d o _ _ _ _Machinery, except electrical doElectrical machinery doTransportation equipment do

Motor vehicles and parts... doInstruments and related products do

N endurable goods industries, total 9 _ doFood and kindred products doTobacco products doTextile mill products do

Paper and allied products. _ _ doChemicals and allied products doPetroleum and coal products do .___Rubber and plastics products do

Shipments (seas, adj.), total:}: .- . doBy industry group:

Durable goods industries, total 9 1 __doStone, clay, and glass products doPrimary metals do

Blast furnaces, steel mills _ doNonferrcus metals do

Fabricated metal products ..__ __ doMachinery except electrical doElectrical machinery. . " doTransportation equipment. _ _ _ do

Motor vehicles and parts doInstruments and related products do

1, 252, 88

11,252,88

1630,715336, 729293, 986

J 375, 527114,288261,239

1 246, 643111, 778134, 865

' 173, 435

'174,942

101,71266,82934, 883

* 46, 62620, 34526,28126, 60415, 56511, 039

1.64

1.902.33.67

1.07.59

1.40.5321

.66

1, 47•'2.16'1.17

1.231.61.92

20, 122

630, 715

336, 72916, 87453, 24225, 03221, 423

39, 22055, 85948, 13775, 45142, 53711, 724

293, 98697,6485,346

22, 338

24, 65949, 25324, 84615,388

1,343,16

11,343,16

1666,959358, 637308, 322

i 408,850131, 814277, 036

1 267, 357122, 420144, 937

'181,010

' 182, 842

101, 66565, 87435, 791

T 52, 26123,80828, 45328, 91617, 25411, 662

'1.60

1.832.22.65.99.58

1.37.51.21.65

'1.47'2.06'1.19

1.231.60.92

21, 583

666,959

358,63719, 76655, 08326, 65621,312

38,47858, 83050, 04184,60354,78611, 665

308, 322101, 737

5,77624, 472

25, 36252, 17025, 77716, 249

111,241

113,910

56,65030,83525, 815

34,65511,29823,357

22,60510,47112,134

' 178,283

' 180,298

101,28066, 09335, 187

'51,22323, 44127, 782

27,79516,52611,269

'1.58

1.792.14.64.95.55

1.36.51.20.65

'• '1.48'2.07'1.19

1.231.58.93

1,7141,893

54,253

28,1291,8333,5881,3631,633

3,3364, 6214, 1035,9763,666

971

26, 1248,428

5062,129

2,2164,3902,1361,395

56,650

30,8351,7233,7761,4101,735

3,3114,9374,1638,4426,100

966

115,719

113,450

55,68229,79925, 883

35,21911, 83323,386

22, 54910, 42512, 124

' 179,70

' 181,33

101,41366, 11735, 296

'52,10424. 14327', 961

27,81416, 66611, 148

'1.60

1.822.22.65.99.58

1.36.51.20.65

' 1. 48'2.04'1.20

1.231.60.92

1, 9511,979

58,199

31,0291,8133,9641,5741,760

3,4335, 2724, 4897,2484,9001,073

27, 1708,920

5122,181

2,2264,7392,1601,420

55,682

29,7991,6724,0091,6601,731

3,2615,1484, 1817,0724,716

986

116,477

113,191

55,94330,03325, 910

34,96411, 69523, 269

22, 28410, 39811, 886

' 182,13

' 181,74

101,73666, 02535, 711

'52,08324, 03428, 049

27,92816,78611, 142

'1.61

1.822.20.64.98.57

1.38.52.20.66

'1.49'2.06'1.21

1.251.61.94

1,7931,785

58,031

30,9831,8274,1491,7361,774

3,3175,0434,4137,4825,0871,039

27, 0488,854

4932,358

2,1964,4272,1931,445

55,943

30,0331,7064,2631,8891,763

3,2105,1014,1927,0704,647

999

116,683

115,757

57,44430,79226, 652

35, 57411, 88523, 689

22,73910, 58312, 156

.' 183,396

' 181,852

101,69965,87735, 822

'51,91623, 87228, 044

28, 23716, 89911, 338

'1.57

1.772.14.62.96.56

1.34,51.20.64

'1.46•'2.01'1.18

1.241.60.93

1,8531,819

57,309

30,6791,7444, 3371,959•1,780

3,2394,8014,3807,6415,059

999

26, 6308,932

498. 2, 158

2, 1444, 3262,1571,342

57,444

30,7921,7754,5652,1461, 805

3,2775,0574,2587,2354,726

977

121,547

115,630

57,74030,91326, 827

34, 89611, 33423, 562

22, 99410, 62912, 365

' 181,01

' 182,84

101,66565, 87435, 791

'52,26123, 80828, 45328, 91617, 25411, 662

'1.58

1.762.13.62,96.55

1.33.50.20.63

' 1. 50' 2. 10'1.21

•1.261.62.94

2,0831,887

55,321

29,6961,5754,2091,9591,693

3,0885,1274,5446,8224,151

990

25, 6258,883

4792,077

2,0774,0262,1491,314

57,740

30,9131,7634,6102,1891,817

3,1965,, 2804,4986, 8444,393

985

107,392

118,426

59,18931,96527,224

34, 88611, 47523, 411

24, 35111, 22513, 126

' 181,86

' 183,30

101,79666, 18735, 609

'52,45823, 79028,66829, 04917, 287

x 11, 762

'1.55

1.722.07.60.93.54

1.31.50.20.61

'1.50' 2. 07'1.22

1.19.1.54.90

1,7881,900

55,032

29,5351, 6284,5652,1571, 796

2,9504,9294,2746,9834, 733

903

25, 4978,449

4871,994

2,2164,3812,1861,346

59,189

31,9651, 8804,7042,1921,871

3,2415,2744,7847, 3814,7691,004

112,864

118,077

59,19932,04127, 158

35,34511,45723,888

23,53310,69612,837

' 183,488

' 183,826

102,16166, 42235, 739

'52,48423, 67928, 805

29,18117,35411,827

' 1.56

1.732.07.60.94.54

1.32.50.20.62

'1.48'2.07' 1.21

1.241.62.92

1, 9672,029

59,865

32,6111,7804,8802,3231,895

3,2525,4574,6117,9745,338

947

27, 2548, 874

4932,185

2,3524,6222,2591,444

59,199

32,0411,9304,7982,3051,851

3,2525,1914,6227,5124,895

967

123,538

120,669

60,33532,68327,652

36,45012, 08724, 363

23, 88411, 15712, 727

' 185,46

' 184,263

102,45066, 60435, 846

'52,63923, 67428,96529, 17417, 35711,816

'1.53

1.702.04.58.92.53

1.30.49.20.61

'1.44'1.96'1.19

1.221.56.93

2,3032,158

62,380

34,2851,9285,2112,5301,976

3,3725,7884,7938,1905,3901,002

28, 0959,117

5032,415

2,3934, 7812,2601,537

60,335

32,6831,9694,9332, 3801, 882 '

3,3355,3284,6957,5374,908

995

120,441

121,676

61,21933,58127, 638

36,28711,96524,322

24,17011,24612,924

' 186,89

' 184,81

102,42866,57535, 853

'52,81423, 74029, 07429,57417,54212,032

'1.52

1.671.98.56.90.52

1.30.49.20.61

'1.46'1.98'1.20

1. 221.56.93

1,9551,918

62,016

34,3761,9685,4182,6362,065

3,4815,7644,6138,1205,4261,016

27, 6408, 832

4892,277

2,3494,9382,3211,540

61,219

33,5811,9295,0322,3971,957

3,4475,5494,7837,8695,1931, 044

125,479

122,793

61,41333,70527,708

37,12012,27224,848

24,26011,25613,004

' 187,745

' 185,953

102,82267,03535,787

'53,40223, 91529, 48729,72917,73311,996

'1.51

1.671.99.56.91.52

1.29.49.19.61

'1.44'1.95' 1. 19

1.231.58.92

2,1462,063

62,048

34,6112,0795,3132,5942, 005

3,4635, 6814,5218, 4075,4891, 014

27, 4379,050

5202, 244

2,3324, 8192,2331,500

61,413

33,7052,0174,9302,3581,872

3,4445, 5644,6707, 9385,0741,028

129,292

122,263

61,23133,12928,102

36,80212,24624,556

24,23011,24812,982

'187,014

' 186,43

103,50567, 42736,078

'53,29323, 66529, 628

29,64117,78011,861

' 1. 52

1.692.04.57.94.53

1.28.49.19.61

'1.45'1.93'1.21

1.221.58.91

2,1512,097

65,193

36,0472,1545,4912,6412,085

3,6476,1044,9528,2915,5301,068

29,1469, 575

5472,581

2,4735,0142,3631,548

61,231

33,1291,9714,9602,3061,934

3,3975,5974,6047,4874,793

. 992

rl!6,810

r!23, 605

61, 86934, 05927,810

r 37, 342' 12, 468'24,874

'24,394'11,326'13,068

' 186,141

' 186,884

103, 88867, 64536,243

'52,94023, 19429, 746

'30,056'18,182'•11,874

'1.51

1.681.99.57.90.52

' 1. 30.49.20.62

'1.42'1.86'1.20

1.231.61.91

1,7381,951

56,358

29,8951,9734,7002, 2681, 800

3, 1135,0834,2995,9773, 410

989

26, 4638,893

5192,039

2,2274,3852,3481,319

61, 869

34, 0591, 9885, 1032,3702,047

3,3235,5644,6798,3715,5601,079

125, 779

126, 189

63, 18634, 83528, 351

37, 84312,80025, 043

25,16011, 79213, 368

185, 760

187, 933

104, 56968, 12736, 442

53, 10723, 03730, 070

30, 25718, 04312, 214

1.49

1.651.98.55.90.51

1.29.48.19.61

1.401.801.20

1.201.53.91

2,0442,260

61,231r 32, 590

2,268* 5, 135

2,4751,908

3, 5065, 2444,697

r 6, 3283, 7271,048

28, 6049, 269

5402,425

2,4044, 8652,3991, 506

63,186

34, 9442,134

r 5,3932,5622,027

3,4735, 6004,760

r 8, 3935, 5691,043

236,806

2 5, 553

2 8, 897

2 35, 055

2 5, 644

28,332

' Revised. 1 Based on data not seasonally adjusted. 2 Advance estimate; total mfrs.shipments for Aug. 1972 do not reflect revisions for selected components. §The term "busi-ness" here includes only manufacturing and trade; business inventories as shown on p. S-lcover data for all types of producers, both farm and nonfarm. Unadjusted data for manufactur-

ing are shown below and on p. S-6; those for wholesale and retail trade on pp. S-ll and S-12Tbee corresponding note 011 p. S-4 and ncte marked "t" on pp S-ll and S-12 ISee

corresponding note on p. S-7. 9 Includes data for items not shown separately



Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS

1970 1971

Annual

1971


1972

Jan. Feb. Mar. Apr. May | June July Aug. Sept,


MANUFACTURERS' SALES, INVENTORIES,AND ORDERS!— Continued

Shipments (seas. adj. )$— ContinuedBy industry group:

Nondurable goods industries total 9 mil. $Food and kindred products do

Textile mill products doPaper and allied products do _Chemicals and allied products doPetroleum and coal products doRubber and plastics products do

By market category:!Home goods and apparel doConsumer staples doEquipment and defense prod excl auto doAutomotive equipment doConstruction materials and supplies doOther materials and supplies do _

Supplementary series:!Household durables doCapital goods industries c? - do.

Nondefense - _ _ _ d o _Defense - do

Inventories, end of year or month:!Book value (unadjusted) total do

Durable goods industries total doNondurable goods industries, total do

By industry group:Durable goods industries total 9 do

Stone clay and glass products doPrimary metals do

Blast furnaces steel mills doNonferrous metals do

Fabricated metal products doMachinery except electrical doElectrical machinery do

Motor vehicles and parts do.Instrument5' and related products do

By stage of fabrication:!Materials and supplies 9 do

Primary metals doMachinery (elec and nonelec ) doTransportation equipment do

Work in process 9 _ _ doPrimary metals doMachinery (elec. and nonelec.) doTransportation equipment do.. _

Finished goods 9 doPrimary metals doMachinery (elec and nonelec ) doTransportation equipment do

Nondurable goods industries, total 9 doFood and kindred products doTobacco products doTextile mill products doPaper and allied products. _doChemicals and allied products __do_Petroleum and coal products doRubber and plastics products _ _ . do

By stage of fabrication:!Materials and supplies _'_ doWork in process doFinished goods do

By market category:!Home goods and apparel _ _ _ do. _Consumer staples _ doEquip, and defense prod., excl. auto doAutomotive equipment doConstruction materials and supplies___.doOther materials and supplies do

Supplementary series:!Household durables doCapital goods industriescf -do

Nondefense doDefense . • do

New orders, net (not seas, adj.), total! doDurable goods industries, total doNondurable goods industries, total . _ _ _ _ _ d o

New orders net (seas adi ) total! doBy industry group:

Durable goods industries, total 9 — doPrimary metals __do

Nonferrous metals do

Machinery except electrical doElectrical machinery doTransportation equipment do

Aircraft missiles and parts do

Nondurable goods industries, total _ _ _ _ d oIndustries with unfilled orders©....— -doIndustries without unfilled ordersl do

161,1711 126,3511 93, 6541 51, 357i 50, 733

1247,449

i 25, 5521111,522i 87, 636i 23, 886

101,37466, 42534, 949

101 712

66 8292,2939,1484 9513, 324

7,15613 98410, 15815 7754,2032 456

19,0633,2316 2203 363

30, 3323 217

10 86210, 895

17 4342 7007 0601 517

34 8838 7402 1063 5642,7646 7432 2522 142

13 1725 239

16 472

10 46613 33427 0265 4647 976

37 446

4 97230 56524 6235 942

619, 952325, 949294, 003

i 619,952

325, 94952, 41324 91021, 173

39 02454, 36647, 83068,30117, 120

294, 00376, 883

217, 120

i 67, 077i 131,852i 94,9351 62, 5731 57, 438

i 253,084

i 28, 9951111,652i 90, 049i 21, 603

101,29365, 44635, 847

101 665

65, 8742,2799,2054,9013,463

7, 26813, 4979,837

15 1793,9332,452

19, 1463,4956,2502,937

29, 6453 044

10 27110, 868

17, 0832 6666 8131 374

35, 7919 1692 2353 6222, 7726 6932 2662 151

13 5265 340

16 925

10 85113 97826, 3475 2408,178

37 071

4 97429 66424 3135 351

665, 678357, 214308, 464

i 665, 678

357, 21454, 53726 36221, 095

37,80558, 83750,39883, 80819, 273

308, 46480, 705

227, 759

25,8158,444

4852,0652,2054,3772,1331,419

5,57710,9817,8636,7514,980

20, 498

2,4469,2367,3841,852

100,87265, 99734,875

101,280

66, 0932,3108,9744,7293,385

7,66713, 7079,865

15 0824,1182,372

19, 7323,3846,3773,160

29, 2923,083

10, 36110,489

17, 0692 5076,8341,433

35, 1878 8802,0663,6192,7236,6842 3112,101

13 1895 265

16 733

10,6771360326,2625 3888,333

37 017

4 96129 59124 8374 754

54, 41728, 37126, 046

57, 122

31,3354,0381,7031,721

3,2245,0624,2908,4431,599

25, 7876,828

18, 959

25,8838,421

4922,0522,1524,4972,1431,403

5,58111,0108,0365,3634,899

20, 793

2,4429,406

, 7, 7661,640

100,48565, 65634, 829

101,413

66, 1172,3019,2294,9593,418

7,57613, 6659,857

15, 0003,9992,385

19,3673,4446,2862,969

29, 5433,157

10, 37610, 606

17, 2072,6286,8601,425

35, 2968,9362,1193,6292,7536,6532,3062,065

13, 2435,282

16 771

10,76613 75526,2515 2648,309

37,068

4 97729 60024,7184 882

57, 87730, 77427, 103

55,489

29, 6534,2561,9401,692

3,1195,0834,3556,8561,415

25, 8366,751

19, 085

25,9108,469

4992, 1342,1324,3592,1891,387

5,60911,0308,0945,2684,921

21, 021

2,4209,4457,7691,676

101,06265, 54435, 518

101,736

66, 0252,3049,2674,9573,463

7,57713, 6299,809

14, 8973,9382,417

19, 2083,4066,1963,005

29, 5643,159

10, 39010, 490

17, 2532,7026,8521, 402

35, 7119,1842, 1413,6662,7736,6692,3172,115

13, 3985,302

17 Oil

10,82513,84626,1565 2128,362

37,335

5,00129,53524,5524 983

58, 31731, 17627, 141

56,290

30,3214,3611,9851,765

3,0575,2464,4347,1521,785

25, 9696,914

19, 055

26,6528,853

4992,1042,1764,4542,1641,389

5,99911,4518,0585,3765,065

21, 495

2,6069,4897,7941,695

101,18365, 46135, 722

101,699

65, 8772,2849,1744,8653,473

7,37913, 6379,823

14, 9913,9382,452

19, 1183,4166,2452,963

29,6483,098

10, 39110, 619

17, 1112, 6606,8241,409

35, 8229, 1372,1703,7302,8176,6222,3102,117

13, 4625,322

17 038

10,93113,81026,2485 2148, 239

37,257

4 99029,59424,5095 085

57, 54230,85626, 686

57, 992

31, 2944,6082,2011,792

3,1735,2374,3697,3451,817

26, 6986,960

19, 738

26,8278,951

4842,1742,1844,4902,1401,421

6,04211,5678,2925, 0575,067

21, 715

2,7209,8018,2431,558

101,29365, 44635, 847

101,665

65, 8742, 2799,2054,9013,463

7,26813, 4979,837

15, 1793, 9332,452

19, 1463,4956,2502,937

29, 6453,044

10, 27110, 868

17, 0832,6666,8131,374

35,7919, 1692,2353,6222,7726,6932,2662,151

13,5265 340

16 925

10,85113 97826,3475 2408,178

37 071

4 97429664243135 351

55, 66330, 02625, 637

57,883

31, 0014,6622, 2501,791

3,1905,3024,3717,0001,829

26, 8827,076

19,806

27,2248,986'

5262, 1822, 3054,6432,2061,444

5,97011,6118,5315,4445,183

22, 450

2,65410,1498,3981,751

102,09866, 13435, 964

101,796

66, 1872,2579,3285, 0623, 439

7,34513, 4469,797

15, 2793,9492, 512

19, 1383,5716,2622, 755

29, 8633, 072

10,16711, 131

17, 1862,6856,8141,393

35,6099,0612,2563,6362,7436, 6672,2352,175

13, 5265 354

16 729

10,83013 91526,3935 2738,233

37 152

5 02329673242965 377

56, 62031, 04325, 577

59, 871

32, 5544,6442,1671,858

3,2615,3844,3298,3661,793

27, 3177,284

20, 033

27,1589,000

5252,2162,3184,5512,2221,420

5,93411,6638,2965,6385,252

22,416

2,6749,9468,1821,764

102,68566, 64536, 040

102,161

66, 4222,2539,3965,1233,432

7,37413, 4009,837

15, 4194,0392,538

19, 0983,6056,2292,797

30,0583,100

': 10, 19811, 232

17, 2662,6916,8101,390

35, 7399,1532,2403,6422,7346,6562,2152,165

13, 6595 363

16 717

10,89013 98628,5305 3588,202

37 195

4 95629 792243145 478

61, 03433,56827,466

59,792

32, 4664,8882 3911,835

3 3815, 2544, 5967,6321,490

27, 3267, 438

19, 888

27,6529,077

5192,3312,3174,6712,3181,478

6,05511,7648,6355,6695,370

22, 842

2,75810,1388,4041,734

102,85666, 89435, 962

102,450

66, 6042,2349,5065,1943,459

7,28913, 3569,872

15, 5534,0912,507

18,9793,5966,2132,805

30,2313,182

10, 19211, 367

17, 3942, 728

' 6,8231,381

35, 8469,1092,2403,7282,7476, 6912,1852, 199

13, 4685 555

16 823

10,95713 91626,5625 4198,172

37 424

5 00329 85824 2265 632

63, 05934, 83828, 221

61, 097

33,3285,2432 5472,004

3 4205,5744,6947,5121,891

27,7697,628

20, 141

27,6389,026

5012,3382,3424, 6802,3591,464

6, 23111,6628,8365,9465,389

23, 155

2,88310,3208, 5741,746

103,25167, 18136, 070

102,428

66, 5752, 2729,5535,2473,446

7,12213, 3909,888

15, 5364,0862,510

18,9393,5426,2372,810

30, 2403,257

10, 21011, 346

17, 3962,7546,8311,380

35, 8539 1112,2603,7802,7316,6482 1992,230

13, 4995 462

16 892

10,96013 90126,5235 4138,118

37513

5 02929 824242085 616

62, 49834, 78027, 718

61,685

34, 0054,9992 3431,994

3 4015,6544,8338,1112,081

27, 6807,533

20, 147

27, 7089,195

5112,2942,3434,6352,2481,456

6,24211,9189,0175,8355,496

22,905

2,91310,4488,6941,754

103,77767, 68236,095

102,822

67,0352,2609,6005,2843,456

7,18513, 3969,968

15, 7224,1282,539

18, 9953,5286,2502,814

30, 5623,282

10, 29011, 496

17, 4782 7906,8241,412

35, 7878,9872,2313,8172, 7496,6632 2082, 274

13, 4645 381

16 942

11, 11313 78026, 5975 4998,164

37 669

5 17129 93924 3265 613

61,72734, 25427, 473

62, 012

34, 3025,3392 6591,961

3 3735,6684,8417,8672,079

27, 7107,489

20,221

28, 1029,288

5052,4452,3654,7822,2811,442

6, 23511,9948,8905,5265,447

23, 139

2,84110,3898,7501,639

103,66967, 57036, 099

103,505

67, 4272,2829,6965,3703,463

7,22013, 4459,986

15, 9194,1402,486

18, 8043,5436,1802,728

30, 9823,329

10, 40211, 779

17, 6412,8246,8491,412

36, 0789,1562,2063,8122,7426, 6902,2132, 252

13, 6355,412

17 031

11, 28813 93126, 7445 5338,181

37 828

5 22030 11624 4765 640

66, 73337, 59229, 141

63,734

35,6135,4422 7651,950

3 5055,9234,7758,7813,300

28, 1217,668

20,453

27, 8109,210

5052,3372,3764,6932,3701, 426

6,12311,8028,9346,2545,442

23, 314

2,90210, 4808,6771,803

103,44667, 48535, 961

103, 888

67, 6452,2859,7095,3923,459

7,15713, 44210,04615, 9994,2132,541

19, 2563,4996,2082,789

30, 7863,354

10, 38411, 779

17,6032 8566,8961,431

36 2439 2792,1963, 8342,7436,7172 2282, 252

13, 5965 433

17 214

11 37214 07126, 8005 6338 174

37 838

5 27730 13824 453

K KQK

57 93031,45726, 473

62, 504

34,6645,4262 7111, 999

3 5015,7284,6218,4151, 901

27, 8407,616

20. 224

28, 3519,302

5172,3622,3904,9082,3881, 532

6,31412,0368,9016,3815,597

23, 957

' 3, 034r 10, 564

«• 8, 872' 1,692

104, 10668, 01836, 088

104, 569

68, 1272,3389,7265,3963,462

7,40113, 51310, 15416 0774,1792,560

19, 1613,4816,2262,607

31, 2553, 390

10, 47511, 988

17, 7112,8556,9661,482

36, 4429 4092,2343,8162,7546 7122 2612 207

13, 5755 488

17 379

11 43214 19426, 9695 6318 327

38 016

5 28630 30324 636

e Cfi7

61 900r 33, 23828 591

64, 300

'35,961' 5, 9673 0172,148

3 5165 8084,866

T 8, 5362 167

28, 4007,705

20. 695

2 2, 936210,3762 8, 66621,710

238,211

236,6032 5, 949

2 8, 939

r Revised. * Based on data not seasonally adjusted. 2 Advance estimate; total mfrs.new orders for Aug. 1972 do not reflect revisions for selected components. !See correspond-ing note on p. S-7. 9 Includes data for items not shown separately. tf Capital goodsindustries series is comparable to the previous producers' capital goods and defense products

(old series) categories. ©See corresponding note on p. S-7.IfFor these industries (food and kindred products, tobacco manufactures, apparel and

other textile products, petroleum and coal products, chemicals and allied products, andrubber and plastics products) sales are considered equal to new orders.


October 1972 SURVEY OF GURKENT BUSINESS S-7


1970 1971

Annual

1971


1972

Jan. Feb. Mar. Apr. May June July Aug. Sept


MANUFACTURERS' SALES, INVENTORIES,AND ORDERS}— Continued

New orders, net (seas, adj.)}— ContinuedBy market category:

Home goods and apparel - - .mil. $__Consumer staples _ _ _ _ doEquip and defense prod., excl. auto doAutomotive equipment doConstruction materials and supplies _ do. __Other materials and supplies . _ .. do

Supplementary series:Household durables do _Capital goods industries^! do

Nondefense. _ doDefense. . do

Unfilled orders, end of year or month (unadjusted),total} . _ _ _ _ _ _ __mil. $..

Durable goods industries, total doNondur. goods ind. with unfilled orders© do

Unfilled orders, end of year or month (seasonallyadjusted), total} mil. $

By industry group:Durable goods industries, total 9 do

Primary metals _ doBlast furnaces, steel mills . do_ _.Nonferrou^ metals. do

Fabricated metal products _._doMachinery, except electrical, _ . do. _Electrical machinery ._ doTransportation equipment do

Aircraft, missiles, and parts do

Nondur. goods ind. with unfilled orders0-do

By market category:}Home goods, apparel, consumer staples . doEquip, and defense prod. , incl. auto _doConstruction materials and supplies doOther materials and supplies. do___

Supplementary series:}Household durables _ __ _ doCapital goods industries^. do

Nondefense. _ _ . doDefense _ ... .. do

BUSINESS INCORPORATIONS c?

New incorporations (50 States and Dist. Col.):Unadjusted© _ number..Seasonally adjusted© do

INDUSTRIAL AND COMMERCIALFAILURES^1

Failures, total. numberCommercial service doConstruction doManufacturing and mining. doRetail trade _ _ _ _ _ _ do _Wholesale trade . . i do

Liabilities (current), total _ thous. $__Commercial service _ doConstruction _ doManufacturing and mining doRetail trade___ doWholesale trade do

Failure annual rate (seasonally adjusted)No. per 10,000 concerns..

261,2042126,3612 88, 920250,430

2 50, 6052242,432

2 25, 6242103,275281,861221,414

73,75970, 8382,921

74, 322

71, 3616,5993,7341,961

10,12212, 62214, 06922, 10915, 437

2,961

. 1, 96838, 152

9,81024, 392

1,62744, 14226, 672

/ 17, 470

264,209

10, 7481,3921,6872,0354,650

984

1,887,754298,736231, 533817,841360, 603179, 041

243.8

267,2882131,8912 94, 865262,926256,8672251,841

2 29, 1732111,0152 88, 7772 22, 238

72,47869, 4153,063

73, 004

69, 9016,0433,4321,744

9,44212, 63214, 43021, 28914, 322

3,103

2.22438, 3959 238

23, 147

1 81043 48325 38518, 098

287, 547

10 3261 4641 5451,9324,428

957

1,916,929356,923222, 357712, 611444 086180, 952

241.7

5,60210,9848,0476,7394,899

20, 851

2,4709,5137,4922,021

71,93968,9702,969

72, 159

69, 1695,6032,9401,820

9,84712, 35014, 03021, 15714,090

2,990

2,15737, 7739,635

22, 594

1 79243,04225,56417,478

23, 69825, 142

848108131169345

95

55, 55527, 51513. 20565,46034, 07115, 304

43.6

5,57711,0037,7895,3874,726

21,007

2,4419,1037,4711, 632

71,61768, 7152,902

71, 966

69, 0235, 8503,2201,781

9,70512, 28514, 20420, 94113,919

2,943

2,14637,5509,462

22, 808

1 79142 73925,26917,470

22, 74823,278

741117114140304

66

115, 84724, 98320, 26738, 58020, 17811, 839

40.1

5,65811,0398,3045,3184,788

21, 183

2,4579, 6947, 8591,835

71,90368,9082,995

72, 313

69,3115,9483,3161,783

9, 55212, 43014, 44621, 02314, 054

3,002

2,20437, 8109 329

22, 970

1 8284298825 35917,629

23, 97725 050

75911011914231375

144, 70215 91213, 28854, 70640, 77120, 025

38.1

6,11111,4598,4495,4444,969

21,560

2,7089,9357,9322,003

72, 13669,0853,051

72, 861

69,8135,9913,3711,770

9,44812,61014, 55721 13314, 151

3,048

2,32438, 2699 233

23, 035

1 93043 4342549717 937

22, 79925 828

81913112512935381

128,99816 53311,60163, 61923 02614, 219

41.6

5,93311,5768,3215,1545,072

21, 827

2,6009,8508,1311,719

72, 47869,4153,063

73, 004

69, 9016 0433 4321,744

9,44212 63214, 43021 28914, 322

3,103

2,22438, 3959 238

23' 147

1 81043 48325*38518*098

26 05125' 529

73093

10112635357

111, 32218 17012 47344, 74227 9537 984

37.5

6,00611,6189,0835,5135,192

22, 459

2,69210,7458,1662,579

74, 06670,9233,143

73 686

70, 4905 9833 4071 731

9,46212 74213 97522 27414 417

3,196

2,26739 0169 247

23 156

1 84844 07925 15318 926

25 71624 685

75095

13013930581

01, 61915 77618 26136, 51519 37411 693

35.7

5,93911,6658,4465,8205,318

22, 604

2,6709,9698,1961,773

75, 23571, 8803,355

74, 279

70, 9156 0733 4931,715

9,59112 80513, 94922 39414, 159

3,364

2,27439, 3489 313

23 344

1 84444 10225 16718 935

24, 34024 743

88013011812142586

91, 33136 05724 94677, 84728 60423 877

40.8

6, 13811,7658,5225,6375,497

23,538

2,82910,3448,5281,816

75, 91472,4333,481

75 039

71, 5586 3833 6601 837

9,67413 05113 94822 36914 311

3,481

2 35839 2039 440

24 038

1 91544 30825 29119 017

30 00327 399

98611614619444585

20, 66226 57826 81513, 43742 28411 548

41.2

6,29011,6669,0125,9405,355

23,422

2, 94510,7448,7851,959

76,39672, 8373,559

75 506

71, 9836 3503 6061 874

9,62813 15613 99922 61114 553

3,523

2 42139 3749 406

24 305

1 97744 73325 50219 231

r26 41426 372

80812110213435596

48 46714 1428 518

60, 56648 87016 371

36.5

6,35911,919

• 8,8955,7825, 470

23, 587

3,01210, 5699,0361,533

76, 07172, 4763,595

76 103

72 5796 7593 9071 963

9,557132581417122 54014 689

3,524

2,53939 1999 379

24 986

2 07744 85325 84219 Oil

28 03026 396

85611512812739888

90 13999 48216 98032 32335 84875 506

38.2

6,31811, 97810, 5015,4995,544

23, 894

2,92512, 1729,2282,944

77, 61974,0283,591

78 608

75 0647 2424 3661 979

9,66413 58614 34023 83316 086

3, 544

2,60740 785

q 47425 742

2 16246 63726 32220 315

r28 331r26 277

7308881

12633897

27 90014 22810 44748 97927 03627 210

34.2

6,03611, 8058,8196,3325,534

23, 978

2,80710, 6179,1001,517

79, 18975,5853, 604

79 241

75 6677 5634 7061 931

9,84313 74914 28423 88016, 010

3,574

2,51940 7519 567

26 404

2 06446 77926 74720 032

26, 10326 893

74010392

12734474

04, 62418 0227 619

12, 76945 41920 795

38.5

6,30012, 0358, 8246,4195,621

25, 101

r3,01910, 717

r 9,211r 1,506

79 855'76,234

3,590

80 344

r76 686r 8 138

5 1612 052

9,88613 95414 387

r24 02516 176

3,621

2,50440 7079 590

27 543

r 2 049r 46 '929r27 084r!9 845

82410112414737280

53, 61916 05822 00014, 16087 81213 589

40.5

* 3 098ill 247i 9 219i 2, 028

i 77, 638

178 232i 8 441

1 24 634

i 2 21047 80327 63720 166

COMMODITY PRICES

PRICES RECEIVED AND PAID BYFARMERS

Prices received, all farm products 1910-14= 100. _Crops9 do

Commercial vegetables _ _ _ d oCotton doFeed grains and hay.. doFood grains. doFruit.. doTobacco. do

Livestock and products9 .. doDairy products doMeat animals doPoultry and eggs do

Prices paid:All commodities and services do

Family living items do.Production items. do

All commodities and services, interest, taxes, andwage rates (parity index) 1910-14=100

Parity ratio § __ . . do

280227294183177163245604326345405151

336366314

390

72

285243323209185167265619321354402133

352382331

410

70

286242279228174158285627324347409135

355386333

412

69

282234273228167156263

»-639324361404132

355387333

413

68

289240306233157161291641328366414125

355386332

413

70

291246395242157161257655331371417128

357387335

415

70

294245340246168165251664338371426138

357389335

416

71

303251356255173165255671349369453130

360391338

420

72

310248320255173166259664363365481130

363395340

423

73

304243290235173166263665357362468138

364395341

423

72

303253327264174168260666346352459122

365396343

428

71

313261342272180170275666357345485123

366398344

428

73

317263319270180166310665364342498125

369400348

432

73

323262328261178164278676376348515136

372403349

433

75

325

268334261178183292715374357507132

372403349

AOOtijO

7.1

326264341206187207309718380373504145

376405356

497tot

7fir Revised. *> Preliminary. i Advance estimate; total mfrs. unfilled orders for Aug.

1972 do not reflect revisions for selected components. 2 Based on unadjusted data. } Re-vised back to 1966 to reflect benchmarking to the Annual Survey of Mfrs. for 1966-70 andcalculation of new seasonal factors; revisions back to 1966, new seas, factors, and other techni-cal data appear in a special Census Bureau report entitled Mfrs.' Shipments, Inventories,and Orders: 1966-72, M3-1.4, Revised (available from Publications Distribution Section,SESA, Wash., D.C. 20233). 1fSe- ôte marked "<?" on p. S-6. excludes textile mill

products, leather and products, paper and allied products, and printing and publishing in-dustiies; unfilled orders for other nondurable goods industries are zero. 9 Includes data foritems not shown separately.

^Compiled by Dun & Bradstreet, Inc. (failures data for 48 States and Dist. of Col.).© Revisions for Jan.-Dec. 1970 will be shown later.§ Ratio of prices received to prices paid (parity index). J




1970 1971

Annual

1971


1972


COMMODITY PRICES—Continued

CONSUMER PRICES

(U.S. Department of Labor Indexes)

Unadjusted indexes:All items 1 967= 100. _

Special group indexes:All items less shelter _ __doAll items less food doAll items less medical care do

Commodities _ do__ „Nondurables do

Nondurables less food doDurables 9 - - --do

Commodities less food -_ . doServices - - - do-__ .

Ser vices less rent do - -

Food9 doMeats poultry and fish doDairy products - do_ __Fruits and vegetables _ do

Housing doShelter 9 do

Rent -J- - doHomeownership do

Fuel and utilities 9 __do ___Fuel oil and coal doGas and electricity - do

Household furnishings and operation. do_

Apparel and upkeep _ _ _ _ _ d o _ _ _Transportation do

Private doNew cars - - -doUsed cars . - do

Public doHealth and recreation 9 do

Medical care - do_ _Personal care doReading and recreation do

WHOLESALE PRICES^

(U.S. Department of Labor Indexes)

Spot market prices, basic commodities:22 Commodities 1967=100

9 Foodstuffs do13 Raw industrials _ do

All commodities -- do_.

By stage of processing:Crude materials for further processing.. _do_ _ _Intermediate materials, supplies, etc doFinished goodsO— _• _ _ do__ _

Consumer finished goods doProducer finished goods ... do

By durability of product:Durable goods doNondurable goods _ _ _ _ _ _ _doTotal manufactures _ _ _ _ _ _ _ _ d o

Durable manufactures doNondurable manufactures do_ _

Farm prod., processed foods and feeds do

Farm products 9 doFruits and vegetables, fresh and dried-doGrains. doLive poultry do -Livestock __ _ _ _ _do_ _ _

Foods and feeds, processed 9 -doBeverages and beverage materials doCereal and bakery products. _ _ _ _ _ do_ _Dairy products doFruits and vegetables, processed^ _doMeats, poultry, and fish _ do

Industrial commodities do

Chemicals and allied products 9 _ d o _ _ _Agric. chemicals and chem. prod d o _ _ _Chemicals, industrial doDrugs and Pharmaceuticals. __ _ _ -doFats and oils, inedible doPrepared paint. __ do

Fuels and related prod., and power 9 _ _ _ _ d o _ . _Coal doElectric power doGas fuels.. doPetroleum products, refined do_ - -

Furniture and household durables 9 ------ do_ _.Appliances, household. do _Furniture, household doHome electronic eauipment do _.

116.3

114.4116.7116. 1

113.5114.0113. 1111.8112.5121.6123.7

114. 9116. 5111.8113.4

118.9123. 6110.1128.5107.6110.1107. 3113.4

116.1112.7111.1107.6104. 3128.5116.2120.6113.2113.4

i 113. 4i 112. 6i 113. 8

110.4

112.2109.8110.4109.9111.9

112.4108.9110.2112.0108.2

111.6

111.0111.698.899.6

116.7

112.0112.9107.6111.2110.4115.8

110.0

102. 288.4

100.9101.1133.3112. 4

105. 9150.0104.8103.3101.1

107.5105.3111.693.6

121.3

119.3122.1120.9

117.4117. 7117.0116.5116.8128.4130.9

118.4116.9115.3119.1

124. 3128.8115. 2133.7

115.1117.5114.7118.1119.8118.6116.6112.0110.2137.7122.2128. 4116.8*119.3

1108.01 109. 31 107. 1

113.9

115.0114.0113. 5112.7116.6

117.0111.7113.8117.0110.5

113.8

112.9120.1100.9100.3118.3

114. 3115.8111.4115.4114.3116.0

114.0

104.292.2

102.0102.4133.5115.6

114.2181.8113.6108.0106.8

109.9107.2114.893.8

122.1

120.2122.7121.6

118.2118.6117.2116. 9117.1

r 129. 3131. 9

120.0118.7116.0123.6125.1129. 5115.8134.4

116.3117.8115.7119.1

119. 0119.3117.3109.3112.5139.1

123.1130.0117.5119.7

108.3111. 3106.1

114.9

115.2115.6114.1113.3117.1

118.4112.4114.9118.5111.2

114.6

113.2115.992.8

100.8121.3

115.4116.1111.4115.4116. 2117.7

115.1

104.391.0

102. 4102.7134.2115.9

114.8182.9115.3107.2107.3

110.2107.4115.594.0

122.2

120.2123.1121.7

118.1118.7118.2116.4117.4129.8132.3

119.1119.1116.1116.6125.5130.1116. 1135.1

116.3117.8115.7119.4

120.6118.6116.4105.6111.6139.3123.6130.4117.6120.5

107.4107.3107. 5

114. 5

113. 9115.4113.6112.7116.9

118.2111.7114. 7118.3111.0

113.0

110.5103. 689.0

102.8119.1

114.6116.0111.3115.4115.7117.5

115.0

104.391.0

102.4102.6132.9115.9

-115. 3182.9116.4108.4107.3

110.2107.6115.693.8

122.4

120.3123.5122.1

118.4118.8118.7117.1118.0' 129. 9

132. 5

118.9118.4116.0115.6

125.9130.6116.4135.7116. 3117.8115.7119.5

121.6119.3117.2109.1111.7139.3123.5129.6117.9120.5

106.7105.5107.4

114.4

114,3115.0113.8112.9117.1

118. 2111.6114.5118.3110.6

113.0

111.3115.888.393.5

120.9

114.1116.4111.3116.4115.3116.9

115.0

104.290. 4

102.4102.6129.0115.9

114.8182.9116.3108.8106.3

110.2107.5115.693.8

122.6

120.4123. 7122. 3

118.5118.9118.7117.4118.1

r 130. 3132.9

119.0118.1115.9117.8126.4131.3116.6136. 7116.8118.1116.2119.5

121.9118.8116.6109.6110.2139.3123.7129.7117.9120.8

105.8104. 3106. 9

114 5

114. 3115.0114.0113.1117.0

118.1111.8114.5118.3110.7

113.6

112.2127.187.892.3

121.0

114.4116.6111.5116.3115.4117.1

114.9

103.890.3

101.7102.4125.3115.9

114.7182.9116.2108.8106.2

110.2107.6115.493.4

123.1

120.9123.9122.7

118.9119.5118.8117.2118.1

r 130. 7133.3

120.3118.9116.1124.4

126.8131.6116.9137.0

117. 9118.1118.2119.6

121, 8118.6116. 3110. 4107.2139.7

123.9130.1117.9121.1

106.7106. 4106.8

115.4

117.0115.4115.0114.2117.8

118.6113.0115.1118.8111.3

115. 9

115.8126.395.387.2

124.7

115.9116.4111.6117.4115.8120.4

115.3

103.490.3

101.1102.5115.9115.9

115. 0190.2116.3107.9106.1

110.2107.4115.593.4

123.2

120.9124.0122.8

118.7119.2118.1117.3117.7131.5134.1

120.3120.7116.4120.9

127.3132.3

f 117. 5137.8118.7118.7119.0119.5

120. 2119.0116.4112.2105.3143.4

124.3130. 5118.1121. 4

110.3109.7110.7

116. 3

120.2115.9115.5114.7118. 4

119.2114.1115.7119.3112.0

117.4

117.8124.994.194.3

132.2

117.2116.4112.2117.3116.0125.4

115.9

103.490.3

101.4102.3111.3116.2

116.0192.7118.9110.0106.1

110.2106.9116.093.3

123.8

121.5124.2123.4

119.4120.3118.4117.1117.8131.8134.4

122.2126.3116. 9123.9127.6132.5' 117. 8

138.0

119.3118.7119.4119. 6120.7118.3115.7111.9103.0143.5

124.7131.0118.4121.5

112.4111.3113.0

117.3

123.1116.7116.3115.6118.8

120.0115.3116.5120.1112.8

119.6

120.7127.593.0

105.4139.6

118. 8116.8112.4117.5116.1130.5

116.5

103.590.2

101.4102.2110.7117.3

116.1192. 6120.0110.2105.5

110.8107.5116.792.9

124.0

121.8124.5123.6

119.7120.6118.9117. 3118.2

r 132. 1134.7

122.4126.8117.3121.4127.9132.7

' 118. 0138.2119.6118.7119.7120.1121.3118.4115.9111.7103.9142.3125.0131.4118 7121 7

114.4110.4117.2

117.4

123.1117.2116.1115.2119.0

120.4115.2116.7120.4112.9

119.1

119. 7112.893.8

107.6136.7

118.6116.7112.6118.0116.7127.3

116.8

103.490.6

101.0102.5103.5117.9

116.5192.6120. 0110. 9106.3

110.9107.4116.893.0

124.3

122.1124.9123. 9

119.9120.7119.1117.7118.5132.4135.0

122.4125.9117.4122. 1128.2133.0

r 118. 4138.5119.9118.6120.2120.5121.8118.6116.1111.7106.4142.7125. 5131.7119.1122.3

115.6110.1119.5

117.5

123.0117.7115.8114.8119.3

120. 7115.1116.9120.8112.9

118.3

119.1117.696.094.1

133.8

117.7117.2112.8117.5118.3123.6

117.3

104.192.2

101. 5102.4112.2118.3

116.9191.2120.5112.5106.6

111.0107.5116.992.8

124.7

122.4125.4124.3

120.3121.0119.7118.4119.2132.7135.3

122.3124.8117.3123.9128.5133.4

rl 18. 6138.9

120.1118.7120.5120.8

122.5119.5117.1111.4110.0142.7125.8132.0119. 7122. 5

119.2112.2124.3

118.2

125.5118.2116.4115.5119.4

121.0116.2117.4121.0113.6

120.0

122.2120.697.596.3

139.8

118.6117.2113.3117.4119.0126.8

117.6

104.492.1

101.4102.8116.0118.3

117.5191.2121.2113. 0107.3

111 . 1107.2117.192.9

125.0

122.7125. 7124.6

120.7121.2119.5119.2119.4133.1135.7

123.0126.4117.0127.2

129.0134.1

' 119. 0139.6120.1117.8120.3121.0

122. 1119.8117.3111.3112.0143.0

126.1132.4120. 0122.9

119.1112.7123.7

118.8

127.2118.5116.9116.1119.6

121.2117.0117.8121. 3114.3

121.3

124.0121.794.5

102.9* 146.4

119.6117.8113.3115.3119.5131.4

117.9

104.392.3

101.4103. 1115. 9118.3

118.2191.2121.5112.9108.5

111. 2107.1117.292.6

125.5

123.1125.9125.1

121.2121.7119.3119.6119.4133.5136. 2

124.2129. 9116.8128.4

129.5134.9

r 119. 2140.7

120.2117.7120.3121. 1

121. 1120.3117.8111.0112.7143.3

126. 3132. 7120.0123.0

119.8114.4123.7

119.7

130.1118. 8117.8117.3119.7

121.4118.5118.3121.5115.1

124.0

128.0129.996.3

118.4152.4

121.5117.9113.6117.7119.6135.8

118.1

104.291.9

101.5103.2113.2118.3

118.6191.2122.1113.2109,1

111.4107.3117.492.4

125.7

123. 2126. 1125.3

121.4122. 0119.4119. 7119. 5133.8136.4

124.6130.8116.6128.1129.9135. 5' 119. 6

141.3120.1117.9120.5121.2

120.8120.5118.1110.6112.4143. 3

126.5132.9120.2123.0

121.0115.8124.6

119.9

130.3119. 2117.9117.4119.8

121.6118.6118.5121.7115.1

123.8

128.2138.999.8

106.8148.1

121.0118. 9115.3118.6120.2132.3

118.5

104.492.0

101.3103.3121.4118.3

119.7191.5122.1114.3110.7

111. 7107.7117.892.4

126.2

123.2126.7125. 9

122.0122.8120.8119.8120.3134.1136.7

124.8130.9116.9125.7

130.1135.7119.9141.5

120.3118.0120. 5121.6

123.1121.0118.6109.6113.6144.0

126.8133.1120.5123.7

122.7119.7124.8

120. 2

130. 3119.7118.2117.7119.9

121.8119.1118.8121. 9115.6

124.5

128. 6138.1109.5112.3144.9

121.8119.1116.1119.0120. 1131. 7

118.7

104.492.0

101.3103.1116.4118. 3

120. 3192.2122.6116.7111.3

112. 0108.1117.792.9

T Revised. * Preliminary. ^Computed by BEA. 9Includes data for items notshown separately. cf For actual wholesale prices of individual commodities, see respective

commodities. O Goods to users, incl. raw foods and fuels.


October 1972 SURVEY OF CURRENT BUSINESS S-9


1970 1971

Annual

1971


1972


COMMODITY PRICES—Continued

WHOLESALE PRICES^1— Continued

(U.S. Department of Labor Indexes— Continued)All commodities— Continued

Industrial commodities— ContinuedHides, skins, and leather products 9

1967=100..Footwear . • - _ _ __ _do_ _Hides and skins -do _Leather do

Lumber and wood products doLumber do_ _

Machinery and equipment 9 -- -do. _Agricultural machinery and equip _do_

- Construction machinery and equip doElectrical machinery and equip _ do_Metal working machinery and equip.... do

Metals and metal products 9 . - do- _.Heating equipment _ _ . •_..' do. __Iron and steel doNonferrous metals do__ _

Nonmetallic mineral products 9 doClay prod., structural, excl. refractories

doConcrete products doGypsum products . - do_

Pulp, paper, and allied products do __Paper do

Rubber and plastics products. _ _ __doTires and tubes _ _ do

Textile products and apparel 9 doApparel - - -do, __Cotton products. _ _ _ _ _ _ _ _ _.do_ __Manmade fiber textile products doSilk yarns _ _ do_ _Wool products. _' do_ _

Transportation equipment 9 ...Dec. 1968=100..Motor vehicles and equip 1967=100

Miscellaneous products 9 doToys, sporting goods, etc doTobacco products _ _ do

PURCHASING POWER OF THE DOLLAR

As measured by-Wholesale prices 1967=$!. 00Consumer prices ~ _ -do _ _

110. 1113.0104. 4107.7113 7113.7

111. 4113.0115.5106 4114.0

116.7110.6115.1125.0

113.3

109.8112.2100. 0108.2111.0108.6109.0

107.2111.0105.6102.1114. 399.4

104.5108.5109.9109.4114.0

$0. 906.860

114.0116. 8115.1112. 5127 0135.5

115.5117.2121.4109.5117.3

119.0115.5121 8116.0

122 4

114.2120 6106.8110.1114 1109.2109.2

108.6112.9110.6100. 80)93.5

110. 3114 7112.8112.6116.7

$0. 878.824

114.4117.1114.6114.4134.6146.7

116. 1117.5121.9109.9118.1

121.1116.8125.3117.1

124 2

114.9122 8114.3110.6114 7109 8111.4

109 7113.6112.5103 1(i)92.7

110.5114 9113 0112 6116.8

$0. 870.819

114.7117.1117 7113.4134 3146 8

116 0117.5121.8109 7118.0

121 1116 7125 6116 5

124 2

114. 9122 6114 5110 6114 7109*7no's109 7113 8112 2103 1(i)92 5

109.6113 8113 0112 6116 8

$0. 873.818

114.7117. 1117.2113.4131. 8142.7

116.0117.5121.8109 6118.1

121 0116.3125 5116 3

124 1

114.9122 6113 6110 6114 7109 5110 8

109 6113 8112 2102 5(i)92 4

110.7115 2113 0112 6116 8

$0. 874.817

115.1117. 1123.1113.5131.3141.9

115.9117.5122.0109 3118. 2

120 9116.5125 3116 0

124 0

114.9122 6112 1110 6114 7109 5110 8

109.8113.8112. 5103 2(i)92.3

110.8115 3113 1112 8116 8

$0. 873.816

116.2117.1128 6117.0132 7143 8

116 2118 6123.2109 3118.4

120 8116 3125 3114 9

124 2

114.9122 9114 1110 7114 7109* 4110 8

110. 6^113.8113. 6104.3(i)91.5

112.9117 5113 2113 1116.7

$0. 867.812

117.8118. 1136 0120 0134 9146 9

116 5119 9124.3109 5118.5

121 4115 9126 8114 4

124 3

114. 8123 4113 4110 8114 9109 5110 3

111 3113 8116 7105 4(i)92 0

113.4117 9113 7113 5117 4

$0. 860.812

119.1118.5148 9120 6137 7150 4

117 1121 5124.7110 0118.9

122 6116 2128 2115 0

124 6

116.1123 8112 8111 6115 3109 2108 4

112 0114 0118 0105 9(i)92 2

113.6118 0114 0114 0117 4

$0. 853.808

123.0120 1173 8128 4139 5152 4

117 3122 0125.0110 1119.4

123 4117 0128 3117 2

124 8

116.2124 5115 3112 3115 7108 9108 4

112 1114 1119 6106 1d\92 0

113.6

m o

m e

117 4

$0. 852.806

127.2122.4188 6138 1141 1155 1

117 6122 1125.7110 9

119.7

123 5117 Q128 3117 6

125 6

117.2125 1114 9112 8m q108 7108 4

112 6114 2120 5107 9d\93 0

113.7m f i1 1 A 1

m (\

m A

$0.851.805

129.5124 6200 3137 8142 7157 0

117 9122 3125.6110 5120.0

123 6118 1m q

117 8

1 9^ Q

117.21 OK 1

m A

- 113 2f ' l K Q

ins 8108 4

m q

114 3121 51 fis nmQQ Q

113.8

m im iU7 f*

$0. 846.802

130.9125. 8204.1138. 6144.2159.0

118.1122.7125.9110 6120. 2

123 6118 6128 1117 6

125 8

117.4125 3113 9113 5116 2108 9108 7

113 6114 4122 6108 6m99 2

114.2

m om A

117 5

$0 842.800

131.6126.5212.5138.1146.1161.6

118.3122.7125.9110.7120.5

123.5119.0128 3116 8

126 2

117.5126 0115 7113 7116 7109*2109 5

114 0115 1123.0108 9(i)

100 0

114.1118 4114 9114 5117 5

$0 835797

134. 6126.5243 0140 6148 1164 1

118 3' 122 8

126.1110 6120.8

123 7119 2128 6116 8

126 7

117.5126 1116 1114 1116 7109 5109 7

114 1115 1122 8108 7(i\

101 1

114.2118 5115 1114 5117 5

$0 834796

135.7126 8244 0143 5148 5165 1

118 3122 6126. 1110 6121.0

•jo/1 n

m o

117.519fi 3

m o

m q

m 7

If tQ 7

m q

-I -\ f q

•joq (*

0)

114.2110 K

1 1 K O

114. 8

117 5

$0 832

CONSTRUCTION AND REAL ESTATE

CONSTRUCTION PUT IN PLACE 1

New construction (unadjusted), total f mil. $__

Private, total 9. _. doResidential (including farm) d o _ _ _ -

New housing units . do_

Nonresidential buildings, except farm and pub-lic utilities, total 9 .mil. $

Industrial __doCommercial.. _ _ _do

Public utilities:Telephone and telegraph _ do

Public, total 9 . . do

Buildings (excluding military) 9 - doHousing and redevelopment doIndustrial ...do--..

Military facilities . do_Highways and streets -__ do

New construction (seasonally adjusted at annualrates), total 1_ . bil. $__

Private, total 9 do

Residential (including farm) .__. . ' doNonresidential buildings, except farm and pub-

lic utilities, total 9 _ _ bil. $__Industrial do.___Commercial . _ _. _ -do. _

Public utilities:Telephone and telegraph do

Public, total 9 _ _ _ _ do

Buildings (excluding military) 9 ---- doHousing and redevelopment _ doIndustrial . .. . do

Military facilities _do__._Highways and streets. _. do

94,030

65, 93231,86424, 272

21, 4176,5389,754

2,968

28,098

10, 6571,107

499

718'9,981

109,399

79,53543,06234, 860

22, 4795,423

11,619

3,005

29, 864

11,3971,136

572

89410,658

10, 317

7,4704,1573,404

2,071423

1,160

259

2, 847

1,0478254

881,067

111.0

82.1

44.6

23.34.9

12.9

3.0

29.0

11.61.1.6.9

9.6

10, 190

7, 4344,1753,438

2,011421

1,087

252

2, 756

9738348

761,095

110.7

81.6

45.6

21.94.6

11.7

2.9

29.1

11.31.0.6.8

10.3

10, 235

7,4474,1473,413

2,034460

1,093

250

2,788

1,0009451

881,073

114.0

82.4

46.4

22.25.0

11.8

2.7

31.6

12.41.2.6.9

11.2

10, 010

7,3574,0663,344

2,012430

1,098

260

2,653

1,05611852

86936

114.6

84.2

47.1

22.94.9

12.3

3.0

30.5

12.11.3.7

1.010.8

9,175

7,0433,8903,214

1,913433

1,023

270

2,132

9089345

83660

115.6

85.2

47.9

23.04.9

12.4

3.0

30.3

12.21.2.5.9

10.4

8,418

6, 3543,5422,963

1, 748362956

194

2,064

8888944

75585

120.8

88.6

49.6

23.94.9

13 3

3.2

32 2

12.41.2.5

1.011.2

8,177

6,1013,3792,848

1,677OOQ

934

219

2 076

9086639

66552

121 7

90 8

51.9

23 54 7

13 2

3.2

30 9

11.7.86

1 010.2

8,921

6,7393,7533 131

1 839364

1,005

268

2 182

8556446

83633

123 0

92 6

53 1

24 04 8

13 2

3 2

30 4

10 866

1 210.3

9,648

7 3564 2033 390

1 928'382

1 066

245

2 292

8716148

72798

120 6

91 7

52 8

23 84 6

13 4

2 9

28 9

10 165

1 011.2

10,521

7,8924,5353 608

2 041393

1,155

282

2 629

9416748

83980

122 4

92 6

52 5

24 64 7

14 1

3 4

29 8

10 685

1 010.9

' 10, 982

r8 243T 4, 831r 3 904

2 075416

1, 161

299

T 2 739

9557346

T 951 015

r 121 1

r 92 5

r 52 9

24 34 9

iq c

3 3

T 9ft fi

10 4q

'I1 1

10.0

'10,938

T 8 306r 4 966r 4 054

r 2 017r 3Qg

r 1 132

266

r 2 632

9239433

99

r 120 1

r 91 g

r 53 5

r 23 24 fi

r iq n

3 1

r 90 q

10 81 3

5r i q

9.5

11, 316

8 5155 0214 099

2 140406

1 197

2 801

31

oq

121 7

qq E

54 0

24 14 7

iq q

90 q

A ~

••Revised. * Preliminary. i Series discontinued.cfSee corresponding note on p. S-8. 9 Includes data for items not shown separately.

ITData have been revised to reflect the incorporation of new basic data, the change in estimat-ing procedures, the modification of the type of construction classifications for private non-residential buildings, the inclusion of farm housing in new private housing units, and the

introduction of the results of a survey covering private nonresidential building constructionin the 13 Western States. More detailed information may be obtained from the Bureau ofCensus Report C30-70S, available "from the Superintendent of Documents, U.S.Govern-ment Printing Office (Washington, D.C. 20402).

478-721 O - 72 - S2




1970 1971

Annual

1971


1972


CONSTRUCTION AND REAL ESTATE—Continued

CONSTRUCTION CONTRACTS

Construction contracts in 50 States (F. W. DodgeDivision, McGraw-Hill):

Valuation, total _ mil. $..

Index (mo. data seas, adj.)-- 1967=100__

Public ownership _ _mil. $__Private ownership doBy type of building:

Nonresidential _ _ _ _ _ _ _ d oResidential > do

Non-building construction doNew construction planning

(Engineering News-Record) 0 do

HOUSING STARTS AND PERMITS

New housing units started:Unadjusted:

Total (private and public) _ _ .thousInside SMSA's _ do

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 buildingpermits (13,000 permit-issuing places) :

Monthly data are seas. adj. at annual rates:Total thous__

One-family structures. _. __do.._

Manufacturers' shipments of mobile homes:Unadjusted . ...doSeasonally adjusted at annual rates . .do

CONSTRUCTION COST INDEXES

Dept. of Commerce composite 1967=100..

American Appraisal Co., The:AtrArocrA 3ft nitiPQ 1Q1^ — 100

Atlanta doNew York doSan Francisco doSt Louis do

Associated General Contractors of America, Inc.,The (building only) rf1 --- _1967=100_.

Boeckh indexes:Average, 20 cities:

Apartments, hotels, office buildings.... .1967 =100. .Commercial and factory buildings __do__ . .Residences do

Engineering News-Record:Building.. __.1967 = 100~Construction do

Federal Highway Adm.— Highway construction :Composite (avg. for year or qtr.) 1967=100.__

CONSTRUCTION MATERIALS

Output index:Composite, unadjusted 9 1947-49=100.-

Seasonally adjusted do___-

Iron and steel products, unadjusted doLumber and wood products, unadj -doPortland cement, unadjusted do —

REAL ESTATE J

Mortgage applications for new home construction:FHA net applications thous. units.

Seasonally adjusted annual rates doRequests for VA appraisals do

Seasonally adjusted annual rates do

Home mortgages insured or guaranteed by-Fed Hous Adm * Face amount mil. $Vet. Adm.: Faceamount§ ...do

Federal Home Loan Banks, outstanding advancesto member institutions, end of period. __ . .mil. $__

New mortgage loans of all savings and loan asspcia-

By purpose of loan:Home construction _ _ _ d oHome purchase . doAll other purposes .. do _ _

Fire losses (on bldgs., contents, etc.) — mil. $__

68, 160

1123

21,97741, 735

24,39424, 67518,992

66, 937

1, 469. 01, 034. 41,433.6

812.9

1,352647

401.2

122

1,1321,2541, 2021,0881,116

126

124.4123.1122.4

124.4128.9

125.6

162.1

166.4162.3194.3

299.1

143.7

8, 113. 733,442.90

10,615

21, 387

4,15010, 2396,998

101, 070

2, 263. 92

80, 590

U44

22,62647, 879

-25,84637, 11919,925

65,578

2, 084. 51,518.52, 052. 21, 151. 0

1,907903

496.6

131

1,2581,4111,3591,1741,219

135.0133.9132. 8

140.5146.7

131.7

174.1

163.8182.7209.0

360.4

217.9

10,374.546,065.83

7,936

39,485

6,83518,81013,840

116,698

2, 245. 84

••7,631

153

' 2, 257'5,373

'2,082'3,227'2,322

3,828

206.0151.3204.5111.7

2,2191,198

1,997910

50.0525

134

1,2981,4411,4161,1951,253

150

137.2136.1136.3

143.4150.9

182.2165.2

140.6193.0270.0

31.5359

20.0218

1, 117. 36578. 34

7,514

4,111

6412,2251,245

9,508

186. 60

6,814

154

2,0104,804

2,2463,1961,372

4,749

175.6125.2173.8102.1

2,0291,172

'1987' 900

54.0545

134

1, 2971,4401,4151,1931,252

138.5138.1137.5

147.4153.2

135.6

179.0174.0

144.8190.4255.3

29.7343

21.7253

862. 75696. 10

7,637

3,672

6281,9511,093

10, 068

177. 70

6,568

137

1, 8374,731

2,0653,1711,332

6,024

181.7132.5179.7102.9

2,0381,155

1,983908

50.8520

134

1,2961,4391,4151,1891,252

138.5138.1137.5

147.2153.5

176.8157.3

145. 5187.6255.7

27.0351

18.1231

821. 04520. 25

7,640

3,405

6091,7171,079

9,527

162. 57

6,405

155

1,012263

2,1283,0011,275

9,919

176.4128.9173.792.9

2,2281,242

2,051952

39.9513

134

1,2951,4391,4151,1871,252

138.5138.1137.5

147.4153.6

161.8169.9

130.7180.5215.1

22.1291

16.4207

869. 50789. 56

7,709

3,298

5891,6611,048

10, 141

156. 50

6,286

160

1,087244

1,9592,9971,331

8,006

155.3118.1152.180.4

2,4571,347

2,142966

34.4509

135

1,3161,4821,4171,1901,259

138.5138.1137.5

147.9154. 6

133.5

162.0188.9

141.0177.6156.8

31.7450

15.7228

'859.77719. 71

7,936

3, 592

5731,5901,429

10,602

183. 70

6,234

165

2, 1374,097

1,7282,6671,840

4,456

150. 9112.2149.176.2

2,4871,415

2,2041,098

33.3554

135

1,3251,5361,4191,1951,260

141.8140.6141.4

149.0155.6

131.3177.6134.0

23.3333

15.4232

935. 45639. 38

7,238

2,632

481- 1, 253

898

10, 831

175. 40

5,607

155

1,6343,973

1,7992, 6641,144

6,500

153.6117.2152.276.3

2, 6821,325

2,056959

39.7552

136

1,3361,5401,4251,2661,264

150.5156.6

143.1187.2138.2

26.7326

16.8224

813. 63616. 73

6,515

2,849

5181,400

931

9,792

168. 80

7,284

159

1,6865,598

2, 1873,6171,480

7,133

205. 8' 152. 4

203.9111.4

2,3691,302

2,007954

48.8595

136

1,3411,5401,4351,2661,264

143.5143 1143.3

151.2157.2

135.5

176.1209.0192.8

27.9260

20.0207

798. 12717. 71

5,992

3,910

7121,8611,337

11,952

211.04

8,100

167

1,7416,359

2,1823, 9711, 947

4,234

213.2'155.6

211.6119.8

2,1091,167

1,991963

53.4634

137

1, 3481,5451,4361,2671,265

152.1157.6

168.8192.7205. 1

20.6221

21.7248

653. 69516. 86

5,913

3,819

7071,8191,293

10, 117

9,098

165

2,5746,524

2,9084,4281,762

4,799

227.9162.7225.8135.2

2,3501,344

1, 955923

51.5572

137

144.6144 2145.0

152.7158.5

184.8205. 9252.6

20.9217

18.5197

627. 34609. 78

5,853

4,603

8362,2761,491

12, 778

8,478

154

2,5175,960

2,4474<3751,655

5,000

226.2'160.4

223.1131.9

2,3301, 296

2,121989

54.7604

137

153.7159.9

133.7

20.4217

20.5219

643. 05854.60

6,075

5,449

8722,9201,657

12, 506

8,067

155

2,5285,538

2,4613,8641,741

3,894

'207.5' 147. 7'206.5' 119, 1

'2,218' 1, 289

' 2, 108'1,013

48.2572

138

146.6146.1147.3

154.6161.3

17.2223

17.3203

635. 16672. 96

6, 138

' 4, 572

'743' 2, 515'1,314

8,875

180

2,4666,409

2,4584,6711,746

5,315

' 228. 1165.2

'225.8' 130.0

'2,453' 1,396

' 2,237' 1, 031

51.7532

138

155.3162.9

19.5206

19.2199

750. 10771. 98

5,356

7943,0761,486

4,470

200.8

199.4120.3

2,3521,378

2,252966

147.5146.9148.6

2 157. 52 163. 7

15.8193

' Revised. *> Preliminary. 1 Computed from cumulative valuation total. 2 Indexas of Oct 1, 1972: Building, 158.3; construction, 165.6. OData for Sept. 1971, and Mar.,June and Aug. 1972 are for 5 weeks; other months, 4 weeks. 9 Includes data for items

not shown separately. §Data include guaranteed direct loans sold. cfNew base; com-parable data for earlier periods will be shown later. HHome mortgage rates (conventional1st mortgages) are under money and interest rates on p. S-17.


October 1972 SURVEY OF CURRENT BUSINESS S-ll

Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownIn the 1971 edition of BUSINESS STATISTICS

1970 | 1971

Annual

1971


1972


DOMESTIC TRADE

ADVERTISING

McCann-Erickson national advertising index,seasonally adjusted :f

Combined indexf- - 1957-59 =100__Television (network) _ _ _ doSpot TV - .. doMagazines - - -•- doNewspapers -do

Magazine advertising (general and natl. farm maga-zines):

Cost, total - - - mil. $_Apparel and accessories doAutomotive, incl. accessories doBuilding materials _ _ _-doDrugs and toiletries doFoods, soft drinks, confectionery _ _ do

Beer, wine, liquors _ _ do.Household equip., supplies, furnishings., doIndustrial materials.. _ _ _ _ _ _ _ _ do —Soaps, cleansers, etc doSmoking materials doAll other .. do

Newspaper advertising expenditures (64 cities) : ©Total* mil. $

Automotive. . .--doClassified. doFinancial. - - doGeneral . __.do-.-.Retail... do

WHOLESALE TRADE

Merchant wholesalers sales (unadj.), totaL.mil. $..Durable goods establishments doNondurable goods establishments do

Merchant wholesalers inventories, book value,end of year or month (unadj.), total mil. $__

Durable goods establishments do ___Nondurable goods establishments do

RETAIL TRADE |

All retail stores:!Estimated sales (unadj.), total t mil. $

Durable goods stores 9 doAutomotive group do _

Passenger car other auto, dealers doTire, battery, accessory dealers do

Furniture and appliance group 9 _ _ doFurniture, homefurnishings stores doHousehold appliance TV radio do

Lumber, building, hardware group. doLumber, bldg. materials dealerscT doHardware stores do

Nondurable goods stores 9 _ . _ _ . doApparel group _ do

Men's and boys' wear stores doWomen's apparel, accessory stores doShoe stores . __do

Drug and proprietary stores . do_Eating and drinking places _ doFood group _ _ _ do

Grocery stores doGasoline service stations do_

General merchandise group with non-stores 9 _ _ mil. $

General merchandise group without non-stores 9 § . .mil. $Department stores _ _ _ do .

Mail order houses (dept. store mdse).doVariety stores _ do .

Liquor stores . , do

Estimated sales (seas, adj.), total t- do

Durable goods stores 9 - - - - d oAutomotive group do

Passenger car, other auto, dealers doTire, battery, accessory dealers do

Furniture and appliance group 9 doFurniture, homefurnishings stores..._do.___Household appliance, TV, radio do

Lumber, building, hardware group doLumber, bldg. materials dealersd"1 do.._.Hardware stores.. .._ do

199249318165127

1,185.750.995.320.8

156.699.4

98.071.143.8

64. 7468.9

3, 119. 592. 8

724.3117.0426.5

1,759.0

246,643111 778134, 865

26,62215, 31811, 304

375, 527

114,28864,96659,3885,578

17, 77810,4836,073

15, 34611,9953,351

261, 23919, 8104 6307,5823,501

13, 35229, 68986,11479, 75627, 994

61, 320

55, 81237, 2953,8536,9597,980

199233302175141

1, 251. 447.0

111.319.2

158.6108.1

88.264.033.1

118.2486.0

3, 289. 9101.9764. 3106.6461.8

1, 855. 3

267,357122 420144,937

28, 82816, 98711, 841

408, 850

131, 81478. 91672, 5386,378

18,56011, 0046,221

17, 37813, 7333,645

277,03620, 8044,7278,1933, 532

13, 73631, 13189, 23982, 79329, 163

68, 134

62, 24242, 0274, 3016,9728,773

212246322184154

76.83.95.01.1

11.36.3

4.52.72.41.39.6

28.8

'•243.8'8.1

'65.6'5.7

'26.8'137.6

23,14810 78812,361

27,58416,64510,939

33 840

10 9236 3535 806'547

1 527941488

1 6531 344'309

22,9171 637

349635295

1 1322 8897 2846 7482,626

5 569

5 0853 371

369549712

34, 655

11, 2986,8306,284

546

1,542936509

1,4931,186

307

202226335175140

109.96.87.72.1

13.98.5

6.45.73.2

9 544 3

1 275 69.8

64.89.0

38.8153.3

23,41810 85512,563

27,70716,61611,091

34 102

11,4186,7586 237

521

1,524898507

1, 6101 304

30622,6841, 674

354663315

1,0872,6507 3506 8182,475

5 620

5,0823,444

359537708

35,219

11,8337 3656,809

5.56

1 497903477

1,4881,179

309

205239295175157

132.54.7

15.92.2

15.512.0

9.48.03.1

10 150 1

i 321 48.5

73 110.349.1

180.5

22, 78710 69612, 091

28, 20016, 75411,448

35 659

12 0897 3296 781*548

1,610976519

1,6281 302

32623, 5701,741

379701292

1,1152,7227 5667 0222,509

5,862

5,2913,568

404552738

34, 964

11 6957 1096,564

545

1 583964510

1,5151,193

322

201248296173138

132.34.89.92.1

13.813.1

12.27.33.5

9 454 6

i 319 g8.0

63 99 4

48 2190. 3

23,35610 66612,690

28,49316,75911,733

36 018

11 7967 1006 516

584

1 6771 009

?546

1 5681 244

32424,2221 897

439752303

1 0992 5307 1856 6732,493

6 824

6 2454 195

575621758

35 57411,8857,2486,690

558

1,575946520

1, 5751,255

320

201246290174140

100.73 44.4.7

12 610.1

13.45.12.0

9 638 4

i 293 24 8

54 39 6

35 0189.5

23, 65410 47813, 176

28, 82816, 98711, 841

42 572

11 9316 1495 570

579

2 1731 159

811

1 540i 107

41330,6413 001

7501 183

403

1 5652 (jgg8 3007* 7072,528

9 904

9 3616* 518

5481 133i f)79

34 89611, o346,6396,162

477

1, 651954558

1,5481,249

299

209235319185153

72.41 65.71.19 15.1

2.92.32.11.18 2

33 2

279 46 8

71 113 539 9

148 1

21,7569 725

12031

29,0641704112 023

30 604

9 6615*7565 317' 439

1 560905540

1 223984239

20,9431 437' °.*»°.

547235

1 1052 4547 101f> a.f)f\

2,388

44.9fi

4 0042 680

269419fifiQ

34 88611,4756 5786,028

550

1 7411,020

607

1,6851,359

326

207258292184140

94.03 09.11.1

13 39.8

4.23.91.92.28 8

36 8

273 78.6

69.58.6

40.0146.9

22,0129 951

12,061

29,07917,17111,908

30 987

10 1816 1925 760

432

1 550Q1Q505

1 240QQQ

24220,8061 309

302521210

1 1012 4027 inr

2,264

A K1O

4. Ofid.

9 fi4.fi

327ARA

fif\9

35 34511,4576 6896,121

568

1 7281,027

573

1,5761 249

327

205244327178134

107.44 3

11.32 5

12 210.4

5 65.92.61.78 5

42 3

313 710 876 110 944 8

171 1

24,938n cc'7

13 371

29,28917 41211 877

36 220

7,020

1, 021

1,176290

23,962

365

7,8707,3342,488

5,673

5,151

4.1 Q

74336 45012 0877 0736 464

609

1 7801,058

568

1,6221 270

352

215257335181149

121 06 0

11.63 3

13 410. 4

7 48.52.42.38 7

46 9

332 69 2

83' 712 250 7

176 8

23,04410 Q77

12 067

29,60817 74011 868

OK OQ1

19 OCR7 379

CQ/-J

1 ^tQ^t

(•no

1 Ud.

23,296

390

7,5867,0672,456

5,496

5, 0373,348

580709

36 28711,9657 0676,490

577

1 7431,044

583

1,5621 246

316

216253349187147

128 93 8

14.43 5

14 49.8

8 39.83.81.78 8

50 7

324 610 481 49 9

48 2174 7

25,2901 1 RQR

13 392

29, 66917 85511,814

38 14110 000

8 1627 WQ

coo

1 6891' n°.4.

con

1 7311 OKC

Q7K

24,8531 7fifi

A1Qftsn°.n4.

i 01 n2 0ftfi

2, 602

5 *5f»1

3 aoQooofion

37 120

12 2727 3026 719

583

1 7481,016

576

1 5921 250

342

214247338187148

109. 01 7

12.22.2

13 310.6

8 56.22.41.79 6

40 5

310 38 3

79 311 543 6

167 6

25,3891 9 197

13262

29,64818 00311 646

38 71013 7<?88 3727 71 ft

AKA

1 7701' ini

KAA

1 8411 ' 4fifl

OQt

24,9821" 757

8, 1657,5842,640

O/M

77436 80212 2467 2666 704

562

1 7351 051

527

1 6051 263'342

83.81 28.41.3

10 58.7

6 44.61.61.69 8

29 8

280 47.6

82 610 230 4

149 7

'23,491r1 1 ft8*\

'12 406

'29,901'18 332'11 569

-Ofl Qftl

-•jo a<)Ar 7 AQA

r ft17

r 1 74.Qr 1 ftftl

T fine

r 1 °.°>7r 1 AftK

_ 070

'24,337r 1 fifiA' 371

r 8, 092' 7, 492' 2, 752

' 5, 660T 5, 208

'803rV7 Q49

'12 468r 7 399r 6 §21

r 578

r 1 7gl

r 1 026' 614

r 1 679r 1 33g

'341

78 13 75.'o

911 26.3

4 73.42.31.48 6

30 5

273 47 4

76 76 3

30 0153 0

26,677

14 135

29, 96118 15211 809

'37, 871'12, 739' 7, 414

6 788626

' 1, 7961 069

582

1,9411 579

362'25, 132' 1 751

382671310

' 1 205'3 124' 7 991' 7 390'2,788

r 6 255

' 5 745'3 788

441636773

'37 843

'12 8007 7337 123

610

1 7761 039

587

1 7051 353

352

117 0a A

8.42 2

19 1

8.9

A 77.63.31.8

AQ -I

237,092212, 2122 7, 030

2 1, 789

224, 8802 1, 832

2 1, 1992 2, 9272 8 0962 7 55022,655

a 6 147

2 5 5902 3 729

237 297212 326

' Revised. »Data for Sept-Dec. 1970 are as follows (mil. $): 256.2, 279.5, 309.5, 264.4;7.0,9.0,7.1,5.6; 58.6,60.1,58.0,46.1; 8.9,10.2,7.8,8.8; 37.9,42.6,48.5,30.6; 143.9,157.6,188.1,173.2.

2 Advance estimate. ©Source: Media Records, Inc. 64-City Newspaper AdvertisingTrend Chart. *New series. Beginning Jan. 1971 the series was revised to reflect trends innewspaper advertising expenditures in 64 cities instead of linage in 52 cities as formerly pub-lished. ^Revised to reflect new sample design, improved techniques, and new informationfrom the 1967 Census of Business; revisions for periods prior to Oct. 1970 appear on p. 55 ff.

of the Dec. 1971 SUBVEY (complete details appear in the Census Bureau Monthly RetailTrade Report, Aug. 1971 issue). 9 Includes data for items not shown separately.

t Formerly Marketing/Communications advertising index. Series revised in June 1971;comparable 1970 monthly data are in the SURVEY for that month (no comparable earlier dataare available).

cf Comprises lumber yards, building materials dealers, and paint, plumbing, arid electricalstores. § Except department stores mail order.




1970 j 1971

Annual

1971


1972


DOMESTIC TRADE—Continued

RETAIL TRADEf— Continued

All retail stores f— ContinuedEstimated sales (seas, adj.)— Continued

Nondurable goods stores 9 mil. $._Apparel group do

Men's and boys' wear stores doWomen's apparel accessory stores do_ __Shoe stores do

Drug and proprietary stores doEating and drinking places doFood group __do

Grocery stores doGasoline service stations _ do

General merchandise group with non-stores 9 . mil. $_.

General merchandise group without non-stores 9 § mil. $

Department stores doMail order houses (dept. store mdse.JdoVariety stores do

Liouor stores do__

Estimated inventories, end of year or month : |Book value (unadjusted) total J mil. $

Durable goods stores 9 do __Automotive group. doFurniture and appliance group doLumber, building, hardware group. _ do

Nondurable goods stores 9 doApparel group - doFood group _ . do__ _General merchandise group with non-

stores mil. $-.Department stores do

Book value (seas, adj ), total t doDurable goods stores 9 d o _ _ _ _

Automotive group doFurniture and appliance group doLumber, building, hardware group. _do__ _

Nondurable goods stores 9 doApparel group do _Food group _ _ __doGeneral merchandise group with non-

stores mil. $Department stores _ _ _ do

Firms with 11 or more stores: tEstimated sales (unadj.), total 9 do

Apparel group 9 doMen's and boys' wear stores doWomen's apparel, accessory stores doShoe stores do

Drug and proprietary stores doEating a n d drinking places _ _ _ _ _ _ d oFurniture and appliance group do

General merchandise group with non-stores 9 mil. $

Genera] merchandise group without non-stores § mil. $

Dept. stores, excl. mail order sales doVariety stores _ _ do

Grocery stores doTire, battery, accessory dealers do

Estimated sales (seas, adj.), total 9 do

Apparel group 9 doMen's and boys' wear stores.. _ _ _ doWomen's apparel, accessory stores do __Shoe stores do

Drug and proprietary stores doEating and drinking places v do

General merchandise group with non-stores9 mil. $__

General merchandise group without non-stores! mil. $-.

Dept. stores, excl. mail order sales doVariety stores do

Grocery stores doTire, battery, accessory dealers _ do -_.

All retail stores, accts. receivable, end of yr. or mo.: d1

Total (unadjusted) mil. $Durable goods stores.. _ d o _ _ _Nondurable goods stores. do_._

Charge accounts doInstallment accounts _ _ do. _

Total (seasonally adjusted). _ doDurable goods stores do. _Nondurable goods stores _ do

Charge accounts doInstallment accounts.. do

' 45, 43919, 8018,8503,3842,671

25, 6384,2095,078

9,9055, 976

' 46, 62620, 3459,1333,4322,748

26, 2814,3845,018

10, 5286,357

117, 245

5,475819

1,8751,4734,3442,8591,508

46, 102

43,48731, 8935,417

43, 1831, 827

22, 8607,387

15, 4739,001

13, 859

21, 3947,214

14, 1808,603

12, 791

' 50, 88923, 15211,3843,5573,219

27, 7374,3975,507

11, 0626,613

•'52,26123,80811, 7723,6043,312

28, 453.4,5805,442

11,7537,035

125,607

5,741750

2,1231,4984,6932,7351,600

52,092

49, 00836,5445,398

45,2351,955

23,5147, 753

15, 7619,385

14, 129

22, 0467,580

14, 4668,986

13, 060

23, 3571,749

409686294

1,1672,6147,4786, 9502, 511

5,757

5,2513,511

384577741

49,82722,16110, 5833,5163,076

27, 6664, 5945,219

11,3186,716

' 51,22323, 44111, 8263,5343,110

27, 7824,5175,315

11,3366,743

10,143

45552

165127405263119

4,229

3,9742,958

419

3,577165

10, 571

48064

176126425253

4,314

4,0523,012

442

3,842169

21, 4267,597

13,8298,826

12, 600

21, 8477,507

14,3408,908

12, 939

23,3861,683

385666284

1,1382,5737,5166,9932,523

5,872

5,3153,618

370571754

51,51422, 91611, 2263,5663,116

28, 5984,7655,280

11,9737,177

52,10424, 14312, 3993, 5593,157

27, 9614,5125,344

11, 4796,881

10, 275

47255

174137367221131

4,286

3,9962,996

416

3,665156

10, 639

46260

170123387213

4,525

4,2433,180

450

3,774172

21, 7607,780

13, 9808,975

12, 785

2l) 9647,605

14,3598,982

12, 982

23,2691,700

384665291

1,1332,6327,3916, 8512,494

5,817

5,2473, 554

382568748

52,87023, 13011, 2543,6263,189

29, 7404,8995,452

12,6277,632

' 52,08324, 03412, 2193, 5413,238

28, 0494,5665,366

11, 4356,869

10,639

48362

184121384218147

4,442

4,1433,092

426

3,810164

/ 10,442

46257

171124397210

4,433

4,1513,123

437

3,671163

21, 8267,791

14, 0359,032

12, 794

21, 9337,581

14, 3528,907

13, 038

23, 6891,775

397699304

1,1412,6777,4746,9442,521

5,954

5, 3873,641

395577742

' 53,72023, 38711, 2783,7103,206

30,3335,0055,630

12, 8357,821

r 51 91623, 87211, 9723,5543,255

28, 0444,5835,429

11,4336,879

11, 352

52975

199129380224142

5,248

4,9393,625

490

3, 657177

10, 845

49465

184127394237

4,605

4,3093,225

447

3,821170

22, 3297,685

14, 6449,185

13, 144

22, 2577,680

14, 5779,081

13, 176

23,5621,773

388715295

1,1652,7467,5236,9942,523

5,756

5,2613,607

345572728

'50,88923, 15211,3843,5573,219

27, 7374,3975,507

11, 0626,613

' 52,26123, 80811, 7723,6043,312

28, 4534,5805,442

11, 7537,035

15,282

854129335180630237209

7, 718

7,4345,583

889

4,278180

10,544

49064

188122410249

4,431

4,2053,161

446

3,701147

23, 5147,753

15, 7619, 385

14, 129

22,0467,580

14, 4668,986

13,060

23,4111,732

390677286

1,1372,7457, 3876,8602, 506

5,874

5,3763, 578

396599727

50,70523, 44011,5283,4983,314

27,2654,2445,350

10, 9056,548

' 52 45823, 79011, 6093,6253,378

28, 6684,6035,431

11, 8007,110

8,991

35152

12490

360203138

3,300

3,1042,323

324

3,652123

10, 690

46562

170119394221

4,469

4,2123,114

475

3,773160

22,3127,331

14, 9818,744

13, 568

21, 8587, 508

14, 3508,862

12, 996

23, 8881,741

409673287

1, 1552,7147,6657, 1332,493

5,965

5,4863,650

399617753

51,72423, 89811,8273,5653,414

27, 8264,4165,357

11, 2816,704

r 52,48423,67911, 4943,6453,428

28, 8054,6105,428

11, 9337,140

9,104

32343

12185

365205133

3,395

3,1692,313

362

3,688121

10,866

46260

173122411228

4,538

4,2793,160

487

3, 907160

21, 8557,278

14,5778,695

13, 160

22, 0837,510

14, 5739,067

13, 016

24, 3631,767

417671290

1,1782,8147,7207,1902,534

6,088

5,5463,664

406632800

r 53,32424, 57212, 2143,6523,509

28, 7524,6085, 486

11,8887,132

* 52,63923, 67411, 4363,6703,433

28, 9654,6275,486

12, 0897,226

10,839

49662

178144396245137

4,310

4,0362,938

467

4,118179

11,027

48068

178125413247

4,656

4,3733,214

500

3,918192

21, 9007,359

14, 5418,865

13,035

22, 2497,633

14, 6169,128

13, 121

24, 3221,836

445675310

1,2192,7527,7957,2632,488

6,025

5,5333,643

396671769

54,03724, 92912,3133,7323,574

29, 1084,6745,510

12,0657,232

r 52,81423,74011,3873,6843, 467

29, 0744,6605,510

12, 1337,276

10, 502

45863

159130396227141

4,218

3,9892, 946

458

3,893178

11, 085

49773

172143430215

4,564

4,3093,158

511

4,059171

22, 0497,439

14, 6109,026

13, 023

22, 3057,603

14, 7029,128

13, 177

24, 8481,843

438703317

1,2212,7787,9747,4382,529

6,246

5,7313,838

423649766

54,29925, 08712, 4163,7353,612

29, 2124,5965,557

12, 1587,344

r 53,40223, 91511, 4123,7093,507

29, 4874, 6665,557

12, 2937,411

11, 220

48768

177135427267156

4,626

4,3713,246

490

4,049181

11, 451

51574

185142430260

4,844

4,5863,395

510

4,115169

22, 5027,640

14, 8629,449

13, 053

22, 5937,718

14,8759,323

13, 270

24, 5561,786

429681294

1,2272,7947,8247,2712,495

6,143

5,6323,792

393638776

r 53,69724, 70112, 0843,6923,568

28,9964,5095, 538

12, 1067,273

' 53,29323,66511, 0863,7033,508

29, 6284,6735,560

12, 4627,545

11,430

47267

171129441267164

4,635

4,3933,307

493

4,206200

11,313

47566

178122448253

4,758

4,5043,334

514

4,083168

22,4867,809

14, 6779,452

13,034

22, 4947,649

14,8459,252

13,242

24,874r 1, 801

'433'695'299

' 1, 204'2,818'7,956'7,374' 2, 577

'6,267

' 5, 801'3,899

422'643'785

' 52,79423, 59211, 0833,6913,543

29, 2024,5985,563

12, 1537,203

' 52,94023, 19410,5963,7253,529

29, 7464,7265,597

12, 3807,380

'10,892

'410'50

'153'111'417'278'152

' 4, 385

' 4, 165' 3, 102

465

'4,114'178

'11,445

'493'67

'180' 132'432'258

'4, 808

' 4, 590'3,398

522

' 4, 156'165

' 22,094'7,687' 14,407' 9, 124' 12,970

' 22,504' 7, 606' 14,898' 9, 163' 13,341

25,0431, 804

430703293

1,2282, 7947,9307,3532,650

6,320

5,7823,846

436652788

"51, 69321, 7499,1693,6723,536

29, 9444,8345,631

12, 5417,469

53, 10723, 03710, 4073,6903,579

30, 0704,7535,734

12, 5615,062

11,408

48451

181139437279156

4,829

4,5743,359

500

4,085187

11,574

48959

186133442256

4,879

4, 5973,369

514

4,203185

22,2967, 760

14, 5369,154

13, 142

22, 7247, 670

15,0549,231

13,493

1 24, 9 71

........

r Revised. l Advance estimate. fSee note marked "J" on p. S-ll. JSeries revisedto reflect benchmarking to the levels of the 1968-71 Annual Retail Trade Reports (CensusBureau), and also recalculation of seasonal factors for all lines of trade; description of revisionsand revised data appear on p. 55 ff. of the Dec. 1971 SURVEY (1968-69) and pp. 24-25 of the

Oct. 1972 SURVEY (1970-71). 9 Includes data not shown separately. §" Except departmentstores mail order. tfSee note marked "J" on p. S-ll; data prior to Feb. 1971 will be shownlater.


October 1972 SUKVEY OF CURRENT BUSINESS •S-13


1970 1971

Annual

1971


1972

Jan. Feb. Mar. Apr. May June July Aug. Sept. *

LABOR FORCE, EMPLOYMENT, AND EARNINGS

POPULATION OF THE UNITED STATES

Total incl. armed forces overseas | mil__

LABOR FORCE §

Labor force, persons 16 years of age and over__thous__Civilian labor force - do

Employed total doAgriculture • _ -- d o _ _ _ _Nonagricultural industries do _

Unemployed - doSeasonally Adjusted

Civilian labor force doEmployed total do

Agriculture - _ _ d o _ _ _Noiiagricultural industries do

Unemployed doLong-term 15 weeks and over do

Rates (unemployed in each group as percentof total in the group) :

All civilian workersMen, 20 years and overWomen, 20 years and over ._ . _ . . _Both sexes 16-19 yearsWhiteNegro and other races

Married men --Occupation: White-collar workers

Blue-collar workers _Industry of last job (n on agricultural) :

Private wage and salary workersConstructionManufacturing

Durable goods -

EMPLOYMENT

Employees on payrolls of nonagricultural estab.:tTotal, not adjusted for seasonal variation. _ _thous__

Private sector (excl government) doSeasonally Adjusted

Total employees, nonagricultural payrolls J._doPrivate sector (excl. government) do

Nonmanufacturing industries* do _ _Goods-producing* _ _ _ _ - _ _ ~._ _ _ d o

Mining doContract construction do

Manufacturing doDurable goods -do

Ordnance and accessories __ _do_ _ _Lumber and wood products doFurniture and fixtures do _ _Stone, clay, and glass products _.-do_ __Primary metal industries _ . doFabricated metal products doMachinery, except electrical _ do.Electrical equipment and supplies, .doTransportation equipment doInstruments and related products .-doMiscellaneous manufacturing do

Nondurable goods doFood and kindred products doTobacco manufactures do _ _Textile mill products doApparel and other textile products, .doPaper and allied products , ._do_: '__Printing and publishing doChemicals and allied products—.— .doPetroleum and coal products do _ _Rubber and plastics products, nee _ doLeather and leather products. _ _do

Service-producing* _ _ _ __ _ _ _do _ _Trans., comm., electric, gas, etc doWholesale and retail trade... do. _

Wholesale trade doRetailtrade. ._ ... do....

Finance, insurance, and real estate doServices doGovernment . do_ ' _ _ _

Federal doState and local do

Production or nonsupervisory workers on privatenonagric. payrolls, not seas, adjusted J- _ _thous. .

Manufacturing ..do. _.Seasonally Adjusted

Production or nonsupervisory workers on privatenonagricultural payrolls t* th ous _

Goods-producing* _ do.. _Mining* doContract construction* doManufacturing do_ .

Durable goods _ doOrdnance and accessories.. do

1 204. 88

85, 90382, 71578,6273,462

75, 1654,088

662

4.93.54.8

15.34.58.22.62.8

5.29.75.65.7

'70, 59358, 058

'70, 59358, 05838, 71123, 352

6233,381

'19, 34911, 195

242573460640

1,3161, 3801,9821,9171, 799

460426

8, 1541, 783

83976

1,365706

1,1021,049

191580320

47, 2424,493

14, 9143,812

11, 1023,688

11, 61212, 5352,7059,830

r47,93414, 020

47, 93417, 313

4732,820

14, 0208,042

132

1 207. 05

86, 92984, 11379, 1203,387

75, 7324,993

1, 181

5.94.45.7

16.95.49.93.23.5

6.210.46.87.0

•'70, 64557 790

'70, 64557, 79039, 26222, 542

6023,411

'18, 52910, 565

192581458634

1,2271,3281, 8051,7681,724

437410

7, 9641,758

76957

1,336684

1,0711,008

191581302

48, 1034,442

15,1423, 809

11,3333, 796

11, 86912, 856

2, 66410, 191

'47, 73213, 434

47, 73216, 717

4512,832

13, 4347,598

96

207. 22

88, 45385, 67880, 6183,764

76, 8535,061

84, 31379, 1993,407

75, 7925, 1141,291

6.14.55.8

17.15.69.93.23.5

6.29.96.86.9

'70,52658, 272

'70,54857, 68939, 29622, 413

6123,408

' 18, 39310, 466

189586455634

1,1611,3271,7931,7541,722

436409

7,9271,757

73955

1,328677

1,065999189582302

48, 1354,397

15, 1863,800

11, 3863,804

11, 88912, 8592,663

10, 196

'48, 17813, 477

47, 63916, 625

4632,829

13,3337,526

207. 40

86, 88484, 13579,2953,444

75, 8514,840

84, 49179, 4513, 363

76 0885,0401,250

• 6 . 04.55.7

16.95.4

10.43.33.4

6.29.76.97.0

'71,16258, 482

'70, 84357, 96239, 44522, 571

6183,436

'18,51710, 552

188592465637

1,1921,3381, 8051,7651,720

439411

7,9651,762

75957

1,332690

1,0671, 002

190589301

48, 2724,420

15, 2323,817

11,4153, 821

11,91812, 8812,663

10, 218

'48,39613, 686

47, 900- 16, 777

4682,855

13, 4547,606

93

207. 59

87,35284, 63580, 0653,470

76, 5954,570

84, 75079, 8323,416

76 4164 9181,253

5.84.35.5

16.75 3

10.43.03.4

5.910.26.26.4

'71,37858 340

'70,86157, 93339, 43822, 491

5213,475

'18,49510, 547

187596467637

1,1911,3341,8041,7731,708

441409

7,9481,737

73960

1,336689

1,0691,002

190592300

48,3704,406

15, 2503,822

11,4283,835

11, 95112,9282,662

10, 266

'48, 25613, 569

47,84116, 686

3722, 888

13, 4267,600

93

207. 78

87,71585, 01980 2043,262

76, 9424,815

85, 11680, 0203,419

76 6015,0961,311

6.04.45.8

16.75.69.43.33.4

6.29.76.66.7

'71,64358, 487

'71,10358, 12239, 58822, 576

5243,518

' 18, 53410, 560

185601470639

1,1871,3341,8081,7731,713

441409

7, 9741,756

74965

1,341686

1,0671,001

190593301

48, 5274,403

15, 2993,830

11, 4693,847

11, 99712, 9812,666

10, 315

'48,39813, 558

48, 02116, 766

3742,924

13,4687,616

91

207. 94

87, 54184, 88380 1882,948

77 2404 695

85, 22580, 0983,400

76 6985,1271,273

6.04.35.8i

17.35 4

10.43.23.67. 5

6.311 26.96.7

'72,03958 814

'71,. 29158, 26039, 74122, 598

6113,468

'18,51910, 552

183601474638

1, 1841,3291,8091, 7791,705

438412

7,9671,755

72969

1,331686

1,068999192594301

48, 6934,432

15, 3333,840

11, 4933,855

12,04213, 0312,666

10, 365

'48,72713, 467

48, 14116, 780

4602,867

13, 4537,608

90

208. 08

87, 1472 84 553

79 1062,869

2 76 2372 5 447

85 70780 6363,393

77 2435,0711,198

5.94.25.5

17.85.3

10.63.03.6

6.19 86 46 7

'70,64257 464

'71,55258, 45939, 90822, 689

6153,523

' 18, 55110, 575

183604477645

1,1921,3351,8031,7781,699

442417

7, 9761,758

73973

1,328684

1,072, 998

189600301

48, 8634,455

15, 3793,849

11, 5303,867

12 06913, 0932,673

10,420

'47,38713,325

48, 33216,881

4652,924

13, 4927,637

90

208. 20

87, 31884, 77879 3662,909

76, 4585,412

85, 53580, 6233,357

77, 2664,9121,294

5.74.05.0

18.85.1

10.52.83.3

5.910 36 06.1

'70,77557 444

'71,74458 59939 98722, 719

6133 494

'18 61210 621

182604481646

1,1901 3411 8151,7861 712

443421

7 9911,751

73976

1,336685

1,072997193605303

49, 0254,438

15, 4563,863

11, 5933,874

12 11213, 1452,669

10, 476

'47,34913, 413

48, 44316, 889

4642,881

13, 5447,680

89

208. 31

87, 91485,41080 1953,094

77,1015,215

86, 31381,2413,482

77, 7595,0721,224

5.94.15.4

17.95.3

10.52.83.5

6.19.86.26.3

'71,39358 002

'72,01158, 83040, 14522, 811

6143,512

' 18 68510, 673

182606483650

1,2091,3471, 8141,7951 720

444423

8,0121,759

76981

1,334687

1,074997191609304

49, 2004,487

15, 5083,883

11, 6253,885

12 13913, 1812,667

10, 514

'47,88113, 521

48, 67716, 986

4662,904

13, 6167,729

89

208. 44

87,78785, 32480 6273,287

77 3394,697

86 28481, 2053,324

77 8815 0791,137

5.94.35.4

17.35.49.62.93.46.8

5.910.65.85.8

'71,97958 592

'72,24659. 02840, 23822, 888

6053,493

'18 79010, 755

185610486651

1,2151, 3601,8241,8051,747

447425

8,0351,756

77984

1,344691

1 076996191615305

49, 3584,481

15, 5613,894

11,667-3,892

12 20613, 2182 664

10, 554

'48,43113, 578

48, 84517,049

4562,882

13, 7117,805

91

208. 56

87, 98685, 56781 2233,531

77, 6924,344

86, 48681, 3943,353

78 0415 0921,180

5.94,35.9

15.75.3

10.72.93.66.8

6.012 56.06.3

'72,61259 182

'72,59259, 31840, 42623, 031

6043,535

'18,89210, 837

186610488660

1, 2281,370T, 8481, 8181 754

452423

8 0551,755

76988

1,334700

1,0801,002

190621309

49, 5614,490

15, 6323,914

11, 7183,913

12 25213, 2742,665

10, 609

'48,97913, 676

49, 12417, 183

4572,928

13, 7987,876

92

208. 70

90, 44888, 05582 6293, 976

78 6535, 426

86 39581, 6673,337

78 3304 7281 148

5 54.05.5

14.55.09.42.93.16.4

5.59 55 65.7

'73,46360 152

'72,69959 47540 54423 081

6003 550

'18 93110 857

188611490662

1,2221 3731 8581,8301 740

457426

8 0741 771

75991

1,329699

1 0791,001

190630309

49, 6184,491

15, 6823,926

11, 7563,931

12 29013, 2242 646

10, 578

'49,86213, 960

49, 24517, 231

4512,934

13, 8467,899

95

208. 84

91, 00588 61783 4434 061

79 3835 173

86 46781 6823 445

78 2374 7851 155

5 53 95.7

14 85 09 92 73.46.4

5 810 95 75 7

'72,46959 720

'72,66159 38240 52122 949

5993 489

'18 86110 843

190613494660

1,2141 3701 8551, 8261 743

456422

8 0181 757

75986

1,311698

1 076995188627305

49, 7124,473

15, 6923,913

11, 7793,927

12 34113, 2792,621

10, 658

'49,40713, 590

49, 12217, 114

4532,876

13, 7857,889

96

208. 98

90, 75888 36283 5054 031

79 4754 857

86 86081 9733 625

78 3484 8871 188

5 63 95.5

16 95 19.72.63.56. 5

5.811 65 45 0

'72,98360 302

'72,98059 66240 73023, 072

6033 537

'18 93210 899

191616496663

1,2351 3761 8701, 8351 733

458426

8 0331 739

71993

1,330699

1 078998189630306

49, 9084,487

15, 7433, 934

11, 8093,936

12 42413, 3182 618

10, 700

'49,95714, 039

49, 36017, 221

4562,916

13, 8497, 946

97

209 13

89, 09886 69382 0343 658

78 3764 658

87 04982 2223 575

78 6474 8271 137

5 53 85 4

16 55 0

10 22 83.36.1

5 69 25 14 8

73, 57260 379

73, 22159 81640 79723 163

6063 538

19 01910 969

193613495664

1 2711 3821 8741,8511 737

463426

8 0501 742

66993

1,332703

1 0801,005

189636304

50, 0584,490

15, 7743 954

11, 8203, 951

12 43813, 4052 636

10, 769

50,02514, 177

49, 49217, 296

4562,927

13,9138,002

98

'Revised. ^Preliminary. VAsofJulyl. 2See note § below. tSeenote"f," p. S-14.§ Effective Jan. 1972, data are adjusted to the 1970 Census; for comparison of Jan. 1972

(and subsequent months) with pre-1972 data, the following approximate amounts (in thous.)should be added to the earlier figure: Civilian labor force, 330; nonagricultural employed,290; unemployed, 30 (unemployment rates are unaffected). Also, effective Feb. 1972 SURVEY,data reflect new seasonal factors; comparable earlier figures appear in EMPLOYMENT AND

EARNINGS, Feb. 1972 (USDL, BLS).JEffective Oct. 1972 SURVEY, revised employment, hours, man-hours, and turnover data

incorporate adjustments to recent benchmarks and new seasonal factors; comparable dataprior to Aug. 1971 to appear in forthcoming EMPLOYMENT AND EARNINGS, 1909-72, BLSBulletin 1312-9.

*New series; see note "I".




1970 1971

Annual

1971


1972

Jan. Feb. Mar. Apr. May June July Aug. Sept. J

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

EMPLOYMENT— Continued

Seasonally Adjusted

Production or nonsupervisoryij workers on pay rolls $—Continued

Manufacturing, durable goods industries— Con.Lumber and wood products thousFurniture and fixtures doStone clay and glass products doPrimary metal industries doFabricated metal products doMachinery except electrical doElectrical equipment and supplies doTransportation equipment doInstruments and related products doMiscellaneous manufacturing do_

Nondurable goods do_Food and kindred products doTobacco manufactures . - _ - -doTextile mill products doApparel and other textile products doPaper and allied products do _Printing and publishing do_.Chemicals and allied products doPetroleum and coal products doRubber and plastics products, nee doLeather and leather products do.

Service-producing* doTransportation, comm., elec., gas, etc*__.doWholesale and retail trade* do..

Wholesale trade* doRetail trade* do

F inanee , insurance , and real estate* _ doServices* do

AVERAGE HOURS PER WEEK

Seasonally Adjusted

Avg. weekly hours per worker on private nonagric.payrolls: J Seasonally adjusted hours _ _

Not seasonally adjusted doMining doContract construction ., d o _ - _ _Manufacturing: Not seasonally ad justed., .do

Seasonally adjusted doOvertime hours do

Durable goods doO vertime hours - do

Ordnance and accessories _ . _ doLumber and wood products doFurniture and fixtures doStone, clay, and glass products doPrimary metal industries . . -doFabricated metal products doMachinery, except electrical doElectrical equipment and supplies. _ _ _ . d oTransportation equipment doInstruments and related products doMiscellaneous manufacturing ind do

Nondurable goods doOvertime hours do

Food and kindred products doTobacco manufactures do -Textile mill products .doApparel and other textile products do

Paper and allied products doPrinting and publishing . doChemicals and allied products _do_ _Petroleum and coal products doRubber and plastics products, nec_ do. ..Leather and leather products do

Trans., comm., elec., gas, etc d o _ . _ _Wholesale and retail trade do

Wholesale trade doRetail trade .. do_.

Finance, insurance, and real estate, _ _.. _do_.Services do

MAN-HOURS

Seasonally Adjusted

Man-hours of wage and salary workers, nonagric.establishments, for 1 week in the month, season-ally adjusted at annual rate }_.bil. man-hours. .

Total private sector* .. .do...Mining. doContract construction doManufacturing doTransportation, comm., elec., gas. _ ._ _do_.Wholesale and retail trade doFinance, insurance, and real estate doServices . do

Government* doIndexes of man-hours (aggregate weekly) : J 11

Private nonagric. payrolls, total* 1967=100..Goods-producing* do

Mining*. doContract construction* do

••493379509

1,0431 0511,3231, 2651,241

278329

5,9781,201

69856

1,196543678602116443273

30, 6213,897

13, 2643,203

. 10,0612,918

10, 542

37.142.737.439.8

3.0

40.33.0

40.539.739. 241.240. 540.741.139.840.340.138.7

39.13 0

40.537.839.935.3

41.937.741.642.740.337 2

40.535.340iO33.836.834 4

r 138. 05112. 63

1 386.58

39.949.46

27.447.06

20 7725 42

103.797.4

100.9103.4

'500377503$68

1,0101,1781,1711,218

261316

5,8361 186

63839

1 168523654580117448258

31, 0153,844

13, 4393,181

10, 2582,984

10,748

""""37.6"42.337.339.9

2.9

40.42.8

41.740 339 841.640.440.440.639.940 739.838.9

3933 0

40.337.040.635 6

42 137 541. 642 440.337 7

40.235 139 833.737.034 2

r 137. 73111. 72

1 326.62

38. 349.29

27 747 30

21 1126 00

102.894.095.6

103. 5

5,807

31, 0143,795

13, 4723,171

10, 3012,988

10,759

36.937.442.037.239.839.8

2.9

40.22.8

41.840.339.941.838.840.340.840.040.239.839.1

39.33 1

40.137.140.735.8

42.337.541.542.440.337.7

40.635.139.733.637.234 2

'137.53111.48

1 346.61

38.009.25

27.767.37

21 1626 04

102. 693.397.3

103.1

'509383505934

1,0201,1801,1731,228

263318

5,8481,193

61840

1 165530651579117456256

31, 1233,824

13, 5143,182

10, 3323,003

10, 782

36.937.042.135.839.839.6

2.8

39.72.8

41.840.339.541.439.539.640.639.738.639.839.0

39.23 1

40.036.540.535.7

41.937.442.042.440.037.5

40.535 139.733.637.034 2

" 137. 58111.49

1 356.42

38.039.27

27.857.36

21 2126 09

102.6'93. 0

98.6100.2

'514384506935

1,0161,1771,1811,214

264316

5,8261,166

59842

1,168529652578117459256

31 1553,809

13, 5193,189

10, 3303,012

10 815

37.037.042.537.640.039 93 0

40.42.8

41.740 739 841.940.340.240.839.940 440.039.1

39 33 0

40.135 140.835 9

42 137.541.542.340.437 9

40.235.239.833.737.134 2

'138.18112. 07

1 156 81

38.299.18

27 967.41

21 2726 12

103.1'94.0

79.1106.4

'518387509930

1,0151,1831,1831,219

265316

5,8521,185

61847

1,172526651578116460256

31, 2553,807

13, 5633, 195

10, 3683,023

10, 862

37.137.042.339.040.240.13.0

40.62.9

41.940.740.041.840.440.541.140.140.740.139.1

39.53 0

40.035.641.136 2

42 337.641.542 040.638 2

40.435 239.933.737.034 1

'139.03112. 80

1 157.16

38.519.22

28 077 41

21 2926 22

103.9'95.3

79.2111.8

'517391507930

1,0111, 1821,1881,213

262317

5,8451,183

59851

1 162526651577118461257

31, 3613,830

13, 6003,202

10, 3983,025

10, 906

37.137,342.436.840.740.23.1

40.93.0

41.940.740.041.640.940.941.240.241.540.439.2

39 53 0

40.335.541.035.9

42 437.541.742.640.838 0

40.535 339 833.937.034 2

'139.38112. 99

1 356 66

38. 609.30

28 237 42

21 4326 39

104.1'94 9

97 6103.4

'519394514939

1 0161, 1781,1891,210

265323

5,8551 187

60855

1 158526655577115465257

31, 4513,857

13,6343,214

10, 4203,032

10 928

37.036.742.737.139.840 12.9

40.62.9

41.740 940 341.940.640.641.040.040 940.339 1

39 43 1

40.034 641.235 9

42 237.441.742 440 838 1

40. 235 139 833 737 334 1

'139.73113. 03

6 8038 509 31

28 177 50

21 4026 69

104.3'95 3

99 3106.3

'519397515940

1 0221 1891 1981,218

266327

5,8641 180

60857

1 165526654576117469260

31 5543,835

13, 7143,225

10, 4893,037

10 968

37.236 842.537.340.140 43 2

41.13.2

42.240 840 642.041.041.041.440.641 740 639 4

39 63 2

40.134 141.236 2

( 42 637 641.842 241 038 5

40.335 139 933 637 134 2

' 140. 40113. 60

1 366 78

38 899 30

28 277 47

21 5426 80

104.8'96 0

98 7105.3

' 520399519956

1,0281,1891,2051,229

266329

5,8871 186

63864

1 164529655575117473261

31, 6913,881

13, 7693,249

10, 5203,047

10 994

37.136.942.837.240.340 43 3

41 0q O

42.040 940 442 041.140.941.440. 241 740 339 2

39 63 3

40.634 541 435 8

42 737 641 842 241 038 2

40.435 239 933 637 134 1

' 140. 77113 97

1 376 79

39 oo9 43

28 377 50

21 5226 80

105.2' 96 5

99 §105.9

'524402519965

1 0381 2001 2141, 252

269331

5,9061 186

63865

1 173531656575117478262

31 7963,875

13, 8253,259

10, 5663,049

11 047

37.337 042 436 740.540 83 5

41 43 7

42.241 140 742 041.441.441 940 843 040 739 6

39 83 5

40.734 141 736 2

42 938 041 742 441 339 1

40.435 239 933 737 334 1

'141.72114 58

1 336 67

39 449 41

9g 597 55

21 6427 15

105.9r 97 5

96 7103 7

'524402526978

1 0491 2231 2231 257

273329

5, 9221 182

63868

1 166539658580117483266

31 9413,886

13 8943 279

10 6153 065

11 096

37.036 942 336 740.540 53 4

41 13 5

42 041 040 541 841 341.141840 441 940 639 4

39 63 9

40.433 741 235 6

42 537 741 642 o41 038 6

40.635 140 033 737 134 0

'142.04114 92

i 336 75

30 489 48

°8 687 55

°1 6627 13

106.2r 97 5

96 7105 .3

'526405528973

1 0531 2331 2371 241

276332

5,9471 202

63870

1 161'539656581117492266

32 0143,879

13 9243 286

10 6383 077

11 134

37.137 442 636 940.940 73 4

41 33 4

42 041 240 842 041 441.242 140 541 640 639 5

39 73 3

40.534 241 335 9

43 037 942 042 241 338 6

40.635 339 933 837 ?34 1

'142.59115 50

1 336 81

39 679 48

28 817 60

21 7927 09

106.7r 98 2

96 1infi i

'527409528966

1 0491 2311 2331 245

276329

5 8961 188

62867

1 140539655578116489262

32 0083,861

13 9123 273

10 6393 069

11 166

37.237 642 137 040.440 63 4

41 23 5

42 441 140 441 941 441.349 o40 341 340 439 3

39 63 3

40.434 341 236 0

42 838 041 841 g40 938 4

40.335 139 833 737 334 3

' 142. 29115 2°

1 316* 71

39* 469 37

28* 747 62

22 0127' 07

106.4r 97 3

95 4104. .3

r 531410530987

1 0561 2431 2411 242'277332

5 9031 167

58874

1 160540655579117491262

32 1393,865

13 9603 294

10 6663 076

11 238

37.137 642 537 140.640 63 4

41 33 6

42 841 9

40 541 741 641.342 440 441 240 639 5

39 83 2

40.335 441 336 1

42 938 041 641 941 438 9

40.635 139 733 737 134 0

' 142. 58115 71

1 336° 82

39* 719 47

28* 827' 59

91 O726 87

106. 8r 98 2

97 0infi n

528409530

1,0201 0601 2451 2561 244

280332

5 9111 170

54873

1 161'542653584117496261

32 1963,876

14 0003 311

10 6893 087

11 233

37.337 443 437 140.940 73 5

41 23 7

42 341 040 641 641 841.042 540 641 240 639 (j

39 73 2

40.134 241 336 1

43 038 241 842 241 138 7

40.435 039 833 537 134 4

143. 63116 09

1 376 82

39 82q 43

28 777 62

22 2527* 53

107.398 799 0

infi 4

' Revised. *> Preliminary. *New series.J See note "k" p. S-13.If Production and nonsupervisory workers.

NOTE FOR S-13: f.Revisions (back to 1960), to adjust to the 1970 Census, appear in "Esti-mates of the Population of the United States and Components of Change: 1940 to 1972"(P-25, No. 481), Bureau of the Census.


October 1972 SURVEY OF CUEEENT BUSINESS S-15


1970 1971

Annual

1971


1972

Jan. Feb. Mar. Apr. May June July Aug. Sept.*


MAN-HOURS— ContinuedIndexes of man-hours, private nonagric. payrolls,

goods-producing indus.t, Useas. adjusted — Con.Manufacturing .1967=100

Durable goods doNondurable goods do

Service-producing*. _ doTransportation, comm., elec., gas* doWholesale and retail trade* do

Wholesale trade* . . _ _ . - do_Retail trade* do

Finance, insurance, and real estate* doServices* _ _ _ - do

HOURLY AND WEEKLY EARNINGSAverage hourly earnings per worker^!

Not seasonally adjusted:Private nonagric. payrolls . dollars. .

Mining . .doContract construction doManufacturing . _ _ _ do; Excluding overtime . _ do

Durable goods doExcluding overtime _ _ _ _ do

Ordnance and accessories doLumber and wood products d6--_.Furniture and fixtures - doStone, clay, and glass products. . -doPrimary metal industries do ...Fabricated metal products doMachinery, except electrical-.. _ doElectrical equipment and supplies . doTransportation equipment doInstruments and related products. -doMiscellaneous manufacturing ind. do

Nondurable goods doExcluding overtime do

Food and kindred products doTobacco manufactures doTextile mill products - _ . d o _ _ -Apparel and other textile prod doPaper and allied products. _ _ . _ • • doPrinting and publishing do. . .Chemical and allied products doPetroleum and coal products -doRubber and plastics products, nee . doLeather and leather products do

Transportation, comm., elec.,, gas . . -doWholesale and retail trade do

Wholesale trade doRetail trade. .__ ... .. do

Finance, insurance, and real estate. ._ .doServices . _ _ _ do

Seasonally adjusted:*Private nonagricultural payrolls do

Mining _ ._ doContract construction do . _Manufacturing doTransportation, comm., elec., gas doWholesale and retail trade . do. .Finance, insurance, and real estate doServices - _ do

Indexes of avg. hourly earnings, seas, adj.: ®*1fPrivate nonfarm economy:

Current dollars _ 1967=100..1967 dollarsA do

Mining _ doContract construction doManufacturing doTransportation, comm., elec., gas doWholesale and retail trade - doFinance, insurance, and real estate doServices _ _ . do

Hourly wages, not seasonally adjusted:Construction wages, 20 cities (E NR) : d1

Common labor. _ _ _ _ _ _ _ _ _ _ $ per hr -Skilled labor do

Farm, without board or rm. 1st of mo do_-..Railroad wages (average, class !)._ do

Avg. weekly earnings per worker, private nonfarm:Current dollars, seasonally adjusted*. . _1967 dollars, seasonally ad justed* A .--Spendable earnings (worker with 3 dependents) :

Current dollars, seasonally adjusted1967 dollars, seasonally adjustedA

Current dollars, not seasonally adjusted :JPrivate nonfarm, total - dollars. .

Mining do .Contract construction doManufacturing do

Durable goods _ _ _ _ _ doNondurable goods do

Transportation, comm., elec., gas doWholesale and retail trade do

Wholesale trade doRetail trade do

Finance, insurance, and real estate do_-_ .Services— . do

96.294.299.1

104.9105.7106.9105. 2113.0111.3

3.223.855.243.363.243.553.433.612.962.773.403.933.533.773.284.053.352.83

3.082.973.162.912.452. 393.443.923.694.283.202.493.852.713.442.443.082.81

3.223.855.243 363.852.713.082.81

5.2247 3141.64

i 3. 939

119.46102. 72

104.6189.95

119.46164. 40195.98133. 73143. 07120.43155.9395. 66

137. 6082.47

113.3496.66

92.389 197.1

102.7106.7105.5107. 1116.1112.8

3.434.065.693.563.443.793.663.843.152. 903.664.233.743.993.484.413.52

. 2.97

, 3.263.143.383.152.572.493.674.203.944.573.402.604.202.873.672.573.283.01

3.434.065.693.564.202.873.283.01

.........

5.9568 2541.73

14.416

126.91104. 62

112. 1292.43

126. 91171. 74212. 24142. 04153. 12128. 12.168. 84100. 74146. 0786.61

121.36102. 94

91.487 896.6

109.0102.5106 6105.1107 2

, 116.9113.0

3.454.115 733.563.433 783.653. 883.202 943.744.283 744.023.494.353.552.96

3.273 153 353.182.582 493 734.243 984 583.432 594.252.873 702.573.303 00

3 464 155.763 594.242.893.313 02

130.8107 2129 3139 4128.6131.0129. 5128.1132 0

6,1568 471

127. 67104. 62

92.36

129.03173. 44220.03141.69151. 20129. 17172. 98103. 32147. 6389. 18

123. 09104. 10

r 91.687 897 1

109.3103.0107 0105.4107 5116.9113.2

'3.504.165 833 603.463 823 683 893.222 953 754.343 774 043.514.393.562 983 313 183 383 012 582 523 764.294 034 663.462 624 332.903 722 603 303 06

3 484 165 783 604^302 903.313 04

131.4107 5129 8140 0128.9132.5129.6128.1132 9

6 1858 515

128 41105.08

113 3092.72

'129.50175. 14215. 13143. 28152. 80130. 75176.66102. 08147.6887 62

121.77104.35

r92.389 197 0

109.5101.8107 3105.9107 8117.5113 6

'3.503.925 873 593.463 823 683 903.222 933 734.343 764 043.504.413.542 97

3.293 173 383 002.592 513 734.274 004 653.452 634 312.903 722 603 313 06

3 493 915 813 594.312 903.323 06

131.8107 7126 1140 9129. 3133.1130.0128.4133 1

6 1828 5111.70

129 13105. 51

113 8693.03

'129.50167. 78224. 23143 60154 71129.63174. 12101.50148. 0687 10

122.80104.35

'93.089 797.8

109.8102.3107.7106.4108 2117.6113.7

' 3. 493.935 873 593.463 823 683.873.212 933 724.363 774 043.504.413.552 983 293 173 413 072.592 513 734.284 004 643.442 624 322. 913 742 603.303 06

3 493 905 833 594.312 913.303 06

131.8107 5126 6141 5129.0133.5130.0127 7133 5

6 1828 511

129 48105. 59

114 1493.08

'129.13166. 24222.47144 32155. 47130. 28175.39101. 56148. 8586 84

122. 10104.04

'93.390 297.7

110.5103.1108 4106.4109 2117.7114.5

'3.524.285 90

^ 3 693 553 923 783 983.192 983 744 493 864 153.584.593.613 06

3 373 243 523 292 622 543 804 364 064 643.512 654 402 913 782 613 343 09

4' 285 883 684.402 943.353 09

133 6108 6132 8142 2131.3136.0131.7129 5134 6

6 2288 551

4.645

130 96106 47

115 3193 75

'131.30182 76214. 76150 18162 29134. 13178.64103. 31151.9689 00

123. 58105. 68

'93.290 197 7

110. 5103.1108.2106.8108 8118.9114. 4

'3.554.345 963 703.583 943 803 983.212 983 764.533 884 163.594.573.663 083 393 263 533 322 692 553 814 364 104 833.522 684 452 973 822 663 403 12

3 554 325 913 694.452 963.393 11

134 6109 1134 3143 3132.1137. 5132. 4130 8136 2

6 2768 6361.82

131 35106 48

117 3095 09

'130.29184 02213. 37147 26158 78132 55177.11103 06151 2788 31

126.82105. 77

'94.391 698 3

110.8102.8108.7107.4109 2118.5115.2

' 3. 564.335 953.723.593 963 814.033.212 993 784.543 894 183.604.623.683 07

3 403 273 543 382 712 573 834 364 124 873.522 704 472 983 822 663 403 13

3 564 315 933 724 462 963.373 12

134 8108 7134 1143 8132 7138.0132.4130 2136 1

6 3198 742

132 43106 75

118 1595 24

'131.01181 43214. 20149 17161 17133 28179. 69103 11151 6587 78

126. 14106.42

'94.892 098.8

111.3104.3109 1108.2109 5118.9115.1

'3.584.325 943 743 603 983 834 013.233 023 824 563 924 203.624.643.693 07

3 413*283 563 402 712 573 844 404 114 883.522 704 502*983 832 673 403 14

3 594 315 973 744 532 973.383 14

135 5109 2134 6144 6133 2139.8132 9130 9136 5

6 3338 7co

133 19107 32

118 7595 69

'132.10182 30218. 59150 72163 18134 35180. 90103 70152 4388 64

126. 141f)fi 7fi

96.494 199.8

111.8104.1109.8108.5110 3119.6115.7

'3.614.365 963 763 624 013 854 063. 263 033 854 603 944 223.624.693.703 09

3 433 303 593 462 712 583 864 444 124 933.552 704 553 003 862 683 453 16

3 624 356 013 764 572 993.443 17

136 7110 0135 7145 3133 9141.7134 0133 4137 9

6 3458 81 8

1 84

135 03108 62

120 2096 69

'133.57184 86218. 14152 9g165 21135 49181. 55104 40153 2489 24

128. 69in? 44

'96.294 299.1

112.2104.9110.5109.5110 8119.6115.8

'3.624.336 013 783 634 023 864 073.293 033 874 613 954 243.644.713.713 10

3 443 313 613 492 712 573 874 474 164*953.552 714 572 993 842 693 433 15

3 624 346 023 784 582 983^433 15

136 7109 6135 2145 4134 5141.8133 6132 5137 5

6 3878 Sfi7

133 94107 39

119 3495 69

'133.58183 16221. 17153 09165 6^135 88184. 17104 05152 8389 58

' 126! 91iftfi 47

'96.994 6

100 1112.7104.7110 9109.4111 4120.4116.6

'3.634.345 943 793 634 033 864 093.333 053 914 623 984 263.654.693.713 103 453 313 593 532 722 593 924 474 204 943.562 704 583 003 852 693 433 14

3 634 376 013 794 593 003.433 15

137 1109 8136 3145 6135 0141.7134 4133 0137 4

6 460

134 67107 92

119 9296 10

'135.76186 62223.34155 01167 65137 66186. 86106 50154 0091 73

127. 60107 20

' 96 294 299 0

112 6103.5110 4108 7111 1120.4117 6

'3.644 355 963 783 634 013 854 103.343 043 934 693 974 243.664.633.703 09

3 483 343 593 572 712 583 974 494 234 973.612 704 663 013 872 703 453 14

3 644 396 013 794 653 023.453 14

137 8110 0137 3"MR ft

135 3144.0135 3133 9138 0

6 531

1 85

135 41108 06

120 5096 16

'136.86184 44225. 88152 71164 01138 16189. 66108 36155 1993 69

129.031OQ 97

'96 995 299 3

112 8104.3110 8109 1111 3120.0117 3

3.654 376 023 803 644 043 874 113.343 073 964 694 004 263.684.693.723 09

3 473 333 563 362 732 623 984 494 224 953.632 714 683 003 862 693 443 15

3 664 416 053 834 683 023.453 17

138 3110 1137 9146 ~ 6135 9144.4135 4133 5138 3

6 6089 H7S

135 79108 10

120 8096 16

'137.24186 60229. 96154 28166 04138 80190. 48108 00154 0193 61

127. 97108 fiS

97 395 999 4

113 2104.1110 7110 0110 9120.5118 6

3.714 446 143 853 684 103 914 153.363 123 994 744 054 343.724.773.743 12

3 513 363 593 332 752 643 994 574 265 023.652 724 713 043 902 723 453 20

3 684 446 093 854 673 043.463 18

138 8110 0138 9147 4136* 6144.5135 9134 3138 6

6 629 91

al 82

137 26108 76

121 9696 64

'138.75192 70235. 16157 47170 15140 40191. 23106 70155 2291 39

127. 65mo 7fi

' Revised. » Preliminary. 1 Includes adjustments not distributed by months.JSee corresponding note, p. S-13. ^Production and nonsupervisory workers. *New

series. a As of Oct. 1, 1972.QSource, USDL, Bureau of Labor Statistics; the indexes exclude effects of changes in the

proportion of workers in high-wage and low-wage industries, and the total and manufacturing

indexes also exclude, for the manufacturing sector only, effects of fluctuations in overtimepremiums. See also note "J," p. S-13. cfWages as of Oct. 1, 1972: Common; $6.71; skilled,$9.24. A Earnings expressed in 1967 dollars are adjusted for changes in purchasing powersince the base period, 1967, by dividing by the Consumer Price Index for the respective period.




1970 1971

Annual

1971


1972



HELP-WANTED ADVERTISINGSeasonally adjusted index 1967=100__

LABOR TURNOVER*Manufacturing establishments:

Unadjusted for seasonal variation:Accession rate, total

mo. rate per 100 employees. _New hires do

Separation rate, total. doQuit - doLayoff -- do

Seasonally adjusted:Accession rate total do

New hires doSeparation rate total do

Quit -_ _ d o _ _ _ _Layoff do

INDUSTRIAL DISPUTESWork stoppages:

Number of stoppages:

In effect during month doWorkers involved in stoppages:

Beginning in month or year thousIn effect during month do

IVIan-davs idle during month or year doPLACEMENTS, UNEMPLOYMENT

INSURANCE

Unemployment insurance programs:

State programs:Initial claims do

Percent of covered employment:ÛnadjustedSeasonally adjusted

Benefits paid mil $Federal employees, insured unemployment,

average weeklv thousVeterans' program (UCX):

Initial claims doInsured unemployment avg weekly doBeneficiaries average weekly doBenefits paid mil $

Railroad program:Applications thous

Benefits paid mil. $

92

4.02.84.82.11.8

5 716

3 305

66 414

3 845

2 070

15 3871 805

3.4

1 5183 848 5

31

5567975

203.2

12818

38.7

80

3.92.54.21.81.6

5 135

3,263

47 417

3 700

9 593

15 3372 150

4.1

1 814*4 957 0

34

622131115

356. 0

60926

75.7

85

5.33.45.52.81.8

4.2'2.7'4.4

1.91.9

437890

182490

5,022

367

2,349

1,2771,912

3.64.2

1,472433.6

35

54120116

31.6

9832

8.7

80

4.8'3.4

5.32 91.5

3.9'2.6'4.0'1.8' 1.6

351668

108316

3,110

353

2,174

1,0431,739

3.34.3

1,328'400.3

33

48106107

29.6

10033

11.1

80

'3.92.74.31.91.5

'3.8'2.5

4 01.7

'1.5

304551

246312

5,481

313

2,129

1,0481,716

3.24.4

1,280367.2

35

439795

25.0

4827

7.6

81

3.32.23.71.51.5

4 1'2.8

4 11.91 4

315561

235450

5,032

317

2,311

1,3361,879

3.54.2

1,352406.9

35

5110595

26.1

1948

9.9

85

2.51.63.81.21.8

3.92.7

'4 31.91.4

218485

44236

3,103

266

2, 666

1,6232,221

4.23.8

1,640489.6

35

59118108

29,2

733

8.9

85

4.1'2.6

4.01.71.4

4.4'3.0

4 22.01.3

310470

83155

2,303

3,097

1,6432,524

4.83.4

2,136550.9

37

68133126

30.0

835

8.0

87

3.72.43.51.61.1

'4 43.0

'4 22.11.2

320480

61140

1,618

3 123

1,2412492

4.73.5

2,112589.5

36

57140131

33.6

427

6.2

90

4.02 73 81 91 1

' 4 43 1

'4 32.21 2

400580

127165

1,544

2,923

1,0952,279

4.33.5

2,071628. 9

34

54136137

38.3

426

6.0

93

4.0' 2.9

3.72 01 0

' 4 3'3 2

4 02.1

' 1 1

440640

146217

2,031

2,431

9472,005

3.83.6

1,830472.9

30

48127127

31.7

323

4.1

93

4.83.6

'3.92 2.8

4 73.5

r 4 22.31 0

510720

126203

2,139

2, 105

9911,740

3.33.7

1,506429.2

28

47119114

'32.6

216

3.5

96

5.24 14 22 21 I

' 4 02 94 62 31 4

425670

311388

3,513

1,952

1,0951,636

3.13.6

1,342382.1

29

43110112

30.9

1014

2.8

103

4.6' 34' 4 8

2 2'17

4 3'32r A A

2 2'12

380640

177426

3,185

' 2, 088

1,3781,823

3.43.7

* 1,376* 364.3

38

40107

*104P27.5

2718

2.9

106

P5.9v 4 5*> 5 51,3 g

v 9

p 4 7v 3 7% 4 5P 2 5v 1 0

360630

108198

2,492

* 1,763

*> 1,565

2.93.4

*39

?95

1017

3. 7

P 99

FINANCE

BANKING

Open market paper outstanding, end of period:Bankers' acceptances mil $Commercial and finance oo. paper, total._.,-do

Placed through dealers doPlaced directly (finance paper) do

Agricultural loans and discounts outstanding ofagencies supervised by the Farm Credit Adm.:

Total end of period mil $Farm mortgage loans:

Federal land banks doLopns to cooperatives do

Bank debits to demand deposit accounts, exceptinterbank and U.S. Government accounts,annual rates, seasonally adjusted: 0

Total (233 SMSA's)O _ bil. $._New York SMS A do

Total 232 SMSA's (except N Y ) do6 other leading SMSA's f do226 other SMSA's do

Federal Reserve banks, condition, end of period:Assets, total 9 — . mil. $_.

Reserve bank credit outstanding, total 9 __doDiscounts and advances do____U.S. Government securities do

Gold certificate account.. ._ __do

Liabilities, total 9 __ ._ . . ._do__»_

Deposits, total _ . _ ___do _Member-bank reserve balances do

Federal Reserve notes in circulation.__.__do

7,05831,76512, 67119,094

14, 774

7, 1872,0305, 557

90, 157

66, 795335

62, 142

10,457

90, 157

26,68724, 150

51,386

7,88931,10311,41819,685

16,347

7,9172,0766,354

99,523

75, 82139

70, 218

9, 875

99, 523

31,47527, 780

54,954

8,37730, 05711, 94818, 109

16, 107

7,7091,9426,456

12,093.85,408.9

6,684.82,783.73,901.2

92, 154

70, 094858

66, 868

9,875

92, 154

27, 18725, 409

52, 829

8, 14829, 94612, 30417, 642

16,044

7,7661,9426,336

12,202.25,570.3

6,631.92,757.53,874.4

93,755

71,013198

67, 566

9,875

93, 755

28,46725,422

52,830

7,81131, 20512,35118,854

16, 211

7,8262,0306,355

12,221.45,755.8

6,465.62,683.23,782.5

95,256

71, 150211

67, 205

9, 875

95,256

28, 44125,697

53,121

7,47931, 16412, 23118,933

16, 194

7,8702,0766,248

12,915.75,918.9

6,996.92,945.24,051.6

93, 698

71, 004146

67, 817

9,'875

93,698

26, 58823, 718

54, 186

7,8892 31,10311,418

2 19,685

16,347

7,9172,0766,354

12,383.25,523.3

6,859.92,859.84,000.2

99,523

75,82139

70, 218

9,875

99, 523

31, 47527, 780

54, 954

7,60132,16712,42719,740

16,456

7,9712,0986,387

12,530.75,687.0

6,843.72, 803. 14,040.6

96,551

72,17615

69, 552

9,875

96,551

29,47125,650

53, 801

7,93532,57912, 78719,792

16, 684

8, 0392,1496,496

13,027.86, 013. 9

7,013.92, 913. 14, 100. 9

94,126

71, 2196

67,698

9,475

, 94,126

27, 25225, 525

53, 914

7,98532,68112, 77819,903

17, 083

8,1392,2676,677

12,785.55, 631. 4

7,154.22,932.94,221.2

96, 849

74, 365255

69, 928

9,475

96, 849

30, 52727,869

54, 340

7,73432, 81412, 92619, 888

17, 299

8, 2382,2606,801

13,169.35, 801. 4

7,367.93,053.14,314.8

98, 197

74, 40560

70, 307

9,475

98, 197

30,15227,415

54, 478

7,44333, 05512, 56020,495

17,461

8,3432,1816,937

13,400.35, 939. 2

7,461.13, 148. 84,312.2

101,533

77,2341,594

71,607

10,303

101,533

32,42329,538

55, 210

7,06933, 48212, 86720,615

17, 667

8,4302,1457,092

13,281.55, 780. 8

7,500.73, 096. 44,404.3

99,746

75, 964130

71, 356

10,303

99, 746

30, 94227, 482

55, 702

6,64333,89112,92320, 968

17, 654

8,5172,1377,000

'12,995.45,633.0

'7,362.52, 996. 3'4,366.2

99,440

74, 15483

70, 822

10, 303

99,440

29,26326,185

56, 127

6,63932, 99812, 94420, 054

17,722

8,6312,1566,935

13,967.76,451.8

7,815.93,233.04, 582. 9

'99,541

'76,474' 1, 09270, 740

10,303

'99,541

'30,738'28,227

56, 347

*98, 667

74, 868239

69, 874

10,303

"98, 667

29, 72827, 524

56,351

'Revised. *> Preliminary. l See note "§", this page. 2 Beginning Dec. 1971, dataon new basis reflect inclusion of paper issued directly by real estate investment trusts andseveral additional finance companies. § Average weekly insured unemployment (all pro-grams) data include claims filed under extended duration provisions of regular State laws;amounts paid under these programs are not included in the 1971 annual figure.

JSee note "J", p. S-13.

c?Insured unemployment as % of average covered employment in a 12-month period.© Series revised to reflect recalculation of seasonal factors and trading-day adjustment;

revisions for periods prior to Feb. 1971 will be shown later.GTotal SMSA's include some cities and counties not designated as SMSA's.Încludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los

Angeles-Long Beach. 9 Includes data not shown separately.




1970 1971

End of year

1971


1972


FINANCE—ContinuedBANKING- Continued

All member banks of Federal Reserve System,averages of daily figures:

Reserves held, total mil. $Required doExcess do .

Borrowings from Federal Reserve banks _ _ _ d o _ _ _ _Free reserves do

Large commercial banks reporting to Federal Re-serve System, Wed. nearest end of yr. or mo.:

Deposits:!Demand, adjustedd1 mil $

Demand, total 9 .. do __Individuals, partnerships, and corp doState and local governments... doU.S. Government _ _ _ _ ._ . do _Domestic commercial banks . __do

Time, total 9 _ _ _ _ _._ -do .Individuals, partnerships, and corp.:

Savings v doOther time. do

Loans (adjusted), totald*t doCommercial and industrial _ doFor purchasing or carrying securities __ __do .To nonbank financial institutions _ _ _ doReal estate loans. _ __ _ doOther loans do

Investments, totalj__ . doU.S. Government securities, total _.do

Notes a n d bonds _ . d oOther securities do

Commercial bank credit (last Wed. of mo., exceptfor June 30 and Dec. 31 call dates) , seas, adj . :

Total loans and investments© __bil. $Loans O doU.S. Government securities doOther securities.. _ . do

Money and interest rates: §Bank rates on short-term business loans:

In 35 centers.. percent per annum..New York City do....7 other northeast centers do

8 north central centers do7 southeast centers... do8 southwest centers do4 west coast centers do

Discount rate (N.Y.F.R. Bank), end of year ormonth •._, percent--

Federal intermediate credit bank loans do

Home mortgage rates (conventional 1st mort-gages):

New home purchase (U.S. avg,,) percent--Existing home purchase (U.S. avg.) do

Open market rates, New York City:Bankers' acceptances (prime, 90 days) doCommercial paper (prime, 4-6 months) ..doFinance Co. paper placed directly, 3-6 mo.doStock Exchange call loans, going rate, _.do . .

Yield on U.S. Government securities (taxable):3-month bills (rate on new issue) percent-.3-5 year issues do

CONSUMER CREDIT(Short- and Intermediate-term)

Total outstanding, end of year or month mil. $..

Installment credit, total.. do__.

Automobile paper _ doOther consumer goods paper. _ _ _ _ . _ _ _ doRepair and modernization loans doPersonal loans _ _ „ _ do

By type of holder:Financial institutions, total do

Commercial banks do. .Finance companies.. do

Credit unions _. _ _ do .Miscellaneous lenders do

Retail out lets, total..— „_ doAutomobile dealers do_

i 29, 265128,993

12721321

1-49

87, 739

147, 355103, 149

6, 7744,380

21> 704

119, 443

48, 03551,650

180, 42981, 6938,560

13, 64234, 03550, 906

72, 19428,06121,98344, 133

435. 9292.058.085.9

2 8. 482 8. 222 8. 86

2 8. 462 8. 442 8. 522 8. 49

5.50

2 8. 50

2 8. 272 8. 20

37.3137.7237.2337.95

3 6. 45837.37

126,802

101, 161

35, 49029,9494,110

31, 612

87, 06441,89531, 123

12, 5001,546

14, 097327

131,329131,164

1 1651 107158

91, 683

152,699106,885

6,5637, 571

20, 880

140, 932

54,54261,274

192,23883, 7708,835

14, 50438, 40057, 183

81,033'28,94424,605

( 52, 089

485.7320.660.7

104.5

26.322 6. 012 6. 56

2 6. 302 6.6226.462 6. 38

2 4. 75

26.37

27.5927.54

34.8535.1134.9135.73

34.33835.77

137, 237

109, 545

38,31032,4474,356

34,432

94,08645, 97632, 140

14, 1911, 776

15,459360

30, 45530, 257

198804

-606

84,699

145, 01299,5886,6014,83821,934

134,161

52,96958,417

185,35882,6717, 707

14,03836,73453,400

74,22824,92122,11349,307

468.4309.760.997.8

6.516.256.77

6.466.776.646.54

5.00

6.00

7.607. 58

5.575.735.576.00

5.0786.39

129, 704

104, 060

37, 15429, 4774,295

33, 134

90, 53644, 11231,098

13, 5701,756

13,524347

30, 80230, 596

206501

-295

82,082

141, 16096,3336, 3685, 647

21,200

136, 161

53, 31359,737

186,25683,4357,74313,61737,20654,083

75,16025, 08022,40050,080

472.4313.059.999.5

5.00

5.99

7.677.63

5.495.755.446.00

4. 6685. 96

130, 644

104 973

37, 38329, 8404,330

33, 420

91, 27944, 60331, 133

13,7801, 763

13, 694349

30, 86030, 653

207360

-153

82,842

144, 435100,492

6, 1123,55122,730

137, 160

53, 60560,294

186,00383,0037,78713,20437,55751,927

77,20926, 18723,34051,022

477.2317.059.1

101.1

5.00

6.00

7.687.62

5.055.545.305.92

4.4895.68

131, 606

105 763

37, 75930, 0724,357

33, 575

91, 94344,94731,331

13,8751,790

13, 820354

30,95330,690

263407

-144

87,258

149, 106103,293

7,1962,237

24,305

138, 217

/ 54, 12460,890

188,92482,8758, 675

13, 89538,04955,161

79,94428 29824', 56651,646

479. 8318.758.8

102.2

6.185.866.40

6.136.476.436.21

4.75

6.12

7.657.56

4.784.924.815.53

4.1915.50

133, 263

107, 097

38, 16430, 5864,370

33, 977

92, 90145, 39631, 643

14, 0521,810

14, 196359

31,32931,164

16510758

91, 683

152, 699106,8856,5637, 571

20,880

140,932

54, 54261,274

192,23883,7708,835

14,50438,40057,183

81,03328,94424,60552,089

485.7320.660.7

104.5

4. 75

6.12

7.627.51

4.454.744.605.36

4. 0235.42

137, 237

109, 545

38,31032, 4474,356

34,432

94, 08645, 97632, 140

14, 1911,776

15,459360

32,86532, 692

17320

153

87,329

146,56499,9637,7144>531

22,211

142,532

55,869 '61,371

190,04082,0478,84413,84438,88756,867

80,54827,88123,97252,667

491. 4325.759.7

106.0

4.50

6.29

7.627.45

3.924.083.954.89

3.4035.33

135, 830

108, 826

38, 11132, 0964,319

34,300

93, 66845,87831, 948

14,0621,780

15, 158359

31,92231,798

1243391

86, 494

151, 788102, 735

7,3113,518

26, 500

144, 286

56, 57862, 085

192,31782,6379,765

14,35739, 17857,031

81, 00127, 92723, 78253, 074

496.6328.561.0

107.1

5.525.355 72

5.375.875 795.39

4. 50

6.20

7.457.35

3.523.933. 784.63

3.1805.51

135, 253

108 634

38, 23931, 6154,332

34, 448

93, 95545, 96331, 979

14, 1261,887

14, 679360

31,92131,688

23399

134

91,037

143,920100,628

6,5755,579

20, 190

144,863

57, 61661,926

194, 53883,9059,525

14,68139,68858,870

81,49227, 74923, 28153, 743

' 505. 0' 333. 8'62.3

«• 108. 9

4.50

6.20

7.387.31

3.954.174.034.55

3.7235.74

136, 135

109, 481

38, 76231, 6824,354

34, 683

94,85346, 41532, 221

14,3281,889

14, 628366

32,56532,429

13610927

88,996

148, 503101,536

7, 1658,614

20, 693

147, 119

57, 29562, 610

199, 50885,49810, 62914, 67740, 42359,215

81, 17927, 07623, 46154,103

'507.4' 335. 9'•62.6

'108.9

4.50

6.00

7.387.30

4.434. 584.384.88

3.7238.01

137, 791

110 734

39,33731, 8824,417

35, 098

96, 10447, 14832, 530

14,4941,932

14, 630372

32,81232,708

104_ 119

-15

90,923

; 150,176105,304

7,2005,02721,540

149, 089

57,62464,414

199,99984, 79010,50014,83741,04958,815

81, 15926, 95823, 11454,201

' 516. 1' 341. 9'63.1

'111.1

5.595 285 81

5 545 785.885.60

4.50

5.90

7.407.33

4.254.514.385.00

3.6485.69

139, 963

112 477

40, 11932,3094,497

35, 552

97, 74848, 03232,957

14,7971,962

14, 729381

32,53932,335

20494

110

91,211

146,201102,3586,8775,721

20,034

149,658

57,84465,476

203,08284,95310,62115,95741,89561,140

80,06326,00922,38454,054

',"517. 5' 343. 7'63.2

'110.6

4.50

5.86

7.417.36

4.474.644.455.00

3.8745.77

142, 215

114, 567

41, 10432,8414, 571

36, 051

99, 73449,16733,470

15, 1751,922

14, 833391

33, 03232, 876

156203

—47

91,915

147, 379104,096

6,7494,467

20,957

152,123

57, 89267, 564

206,43785, 32111, 45616, 20342, 74262, 817

79,96725, 77022,50254, 187

' 521. 9' 348. 4r62.3

' 111. 2

4.50

5.81

'7.437.37

4.734.854.725.23

4.0595.86

143, 456

115, 832

41,67833, 2034,617

36,334

15,83249,87933, 823

15,2931,918

14, 919397

'33,148'32,893

'255'438

'-183

91,355

140, 450102,374

6,0381,715

20,357

155, 510

59, 82770, 796

206,39884, 99010,94716,41743,44861, 951

80,03325,65122,08554,382

' 529. 8' 356. 2'61.4

'112.3

5.845.556 14

5 796.066 075 82

4.50

5.81

7.457.39

4.674.824.585.25

4.0145.92

145, 557

117, 737

42, 34633, 8314,689

36,871

02, 60650,89834, 208

15, 6381, 862

15, 131403

P 32, 984"32,838

*146*515

p-369

91, 964

146, 133103, 234

6,4916,479

20,010

156, 287

58,06970, 804

211, 03186, 64711, 28617, 02744,12663, 098

81, 01526,30721, 53554,708

535.3360.062.0

113.3

4.50

7.427.40

4.845.134.915.25

4.6516.16

r Revised. *> Preliminary.i Average for Dec. 2 Average for year. 3 Daily average.cTFor demand deposits, the term "adjusted" denotes demand deposits other than domestic

commercial bank and U.S. Government, less cash items in process of collection; for loans,exclusive of loans to and Federal funds transactions with domestic commercial banks and

after deduction of valuation reserves (individual loan items are shown gross; i.e., before deduc-tion of valuation reserves). •

tRevisions for months prior to Feb. 1971 will be shown later.9Includes data not shown separately. ©Adjusted to exclude interbank loans.§For bond yields, see p. S-20.

478-721 O - 72 - S3




1970 1971

Annual

1971


1972


FINANCE—Continued

CONSUMER CREDIT— ContinuedOutstanding credit — Continued

Noninstallment credit, total mil $_.Single-payment loans, total do

Commercial banks - . . __doOther financial institutions do

Charge accounts, total __doRetail outlets do ..Credit cards _ -do

Service credit _ _ d o _ - _ _

Installment credit extended and repaid:Unadjusted:

Extended total doAutomobile paper doOther consumer goods paper _ _ .do _ _All other do

Repaid, total _ do __Automobile paper doOther consumer goods paper doAll other __do

Seasonally adjusted:Extended total do

Automobile paper doOther consumer goods paper doAll other do

Repaid total doAutomobile paper doOther consumer goods paper doAll other do

FEDERAL GOVERNMENT FINANCEBudget receipts, expenditures, and net lending:

Expenditure account:Receipts (net) mil. $Expenditure (excl. net "lending) do

Expend, a cct. surplus or deficit (—) _doLoan account:

Net lending do . -

Budget surplus or deficit ( — ) doBudget financing, total do

Borrowing from the public .2 doReduction in cash balances do

Gross amount of debt outstanding doHeld by the public - do

Budget receipts by source and outlays by agency:Receipts (net) total mil $

Individual income taxes (net) . _doCorporation income taxes (net) doSocial insurance taxes and contributions

(net) mil. $Other do .

Outlays total 9 doAgriculture Department . do ..Defense Department, military ... . _doHealth, Education, and Welfare Department

mil. $..Treasury Department .. . do .--National Aeronautics and Space Adm doVeterans Administration - -do

Receipts and expenditures (national income andproduct accounts basis), qtrly. totals seas. adj.at annual rates:

Federal Government receipts total bil $Personal tax and nontax receipts.. ...doCorporate profit tax accruals doIndirect business tax and nontax accruals-doContributions for social insurance do

Federal Government expenditures, total.. _doPurchases of goods and services do

National defense j doTransfer payments doGrants-in-aid to State and local govts doNet interest paid doSubsidies less current surplus of government

enterprises bil $

Less : Wage accruals less disbursements___do

Surplus or deficit (— • ) do

LIFE INSURANCE

Institute of Life Insurance:Assets, total, all U.S. life insurance cos bil. $_.

Government securities. ... ...doCorporate securities .--_.... .do ....Mortgage loans, total. _ _ _ do

Nonfarm do

Real estate. __ .doPolicy loans and premium notes _ _ _ / doCash j.._ __.do__-_Other assets do

25,6419,4848,2051,279

8,8506,9321,9187,307

104, 13029,83136, 78137, 518

101,13830,94334,44135,754

i 193,743* 194,460i -716

i -2,128

i -2,845i 2, 845i 5, 397

1-2,552

i 382,603i 284,880

i 193,743190,412i 32, 829

145,298i 25, 203

1 196,588i 8, 307

i 77, 150

i 52, 3381 19, 510i 3, 749i 8, 653

191.692.430.419.349.5

204.596.575.163.324.514.6

5.5

-12.9

207. 2511.0788.5274. 3868.73

6.3216. 061.769.15

27, 69210, 3008,9161,384

9, 8187,5972,2217,574

117,63834,63840,97942, 021

109, 25431, 81838, 48138,955

1188,3921210,3181-21,927

1-1,107

1-23,033123,033i 19, 448i 3, 794

1409,4681 304, 328

1 188, 392i 86, 230126,785

i 48, 578i 26, 798

1 211, 425i 8, 560

174,546

i 61, 866120,991i 3, 381i 9, 756

199.189.633.120.555.9

220.897.871.475.029.313.6

5.2

-21.7

222. 1011.0099.8075.5069.90

6.9017.061.76

10.07

25,6449, 9978,6331,364

8,3056,1202,1857,342

10, 3003,0663,4653,769

9,0882,6753,1533,260

10,0493,0043,4653,580

9,2222,6973,2623,263

15, 65219, 276

-3, 624

-306

-3,9303, 9306,854

-2,924

424, 990315, 408

15, 6526,920

453

5,9962,282

19, 5821,4325,482

5,4881,837

291893

216. 4411.0896.4374.7169.12

6.7516.681.449.35

25, 67110, 0618, 6941,367

8,3056,1012,2047,305

.9, 8492,9273,4543,468

8,9362,6983,0913, 147

10, 1563,1473,4623,547

9, 1572,7323,1723, 253

19,71018, 2651, 444

69

1,513

-1,513-2,003

-490

422, 163313, 406

19,7109,1924,306

3,7842,428

18, 196680

5,764

5,4521,893

273755

199.189.833.220.056.1

222.297.970.176.329.813.6

4.6

.0

-23.1

237.4911.0097. 2074.8069.21

6.8116.781.469.44

25, 84310, 0978,7221,375

8,4356,2692,1667, 311

9,7973,0373,4233,337

9,0072, 6613, 1913,155

10, 0312,9923,4673,572

9,1072,6343,2193, 254

12,46218, 677

-6, 215

-115

-6,330

6,3301,4074,923

421, 878314, 812

12,4626,282

736

2,9832,460

18, 7911,4065,886

5,6541,564

266830

218. 2611.0297.7874. 8669.27

6.8816.851.459.42

26,16610,1828,7951,387

8,6346,4822,1527,350

10,7113,1053,7373,869

9,3772,7003,2233,454

10,5723,1623,5953,815

9,3062,6623,2543,390

14, 94518, 798

-3, 852

-149

-4,0024,0022,5901,412

424, 555317,402

14, 9457,455

512

4,1202,858

, 18, 9471,0945,996

5,7611,931

286818

219. 3511.1598.4474.9071.31

6.9516.951.539.43

27, 69210, 3008,9161,384

9,8187,5972,2217,574

11, 9662,7805,0614,125

9,5182,6343,2003,684

10, 1302,9733,6043,553

9, 2302,6963,1883,346

17, 21317,085

128

-399

-271

2718,482

-8, 211

434, 350325, 884

17, 2137,0964,927

2, 6422, 549

17, 4841,1206,386

5, 5711,774

285893

202.893.831.120.857.0

227.5100.771.977.830.813.3

5.0

.1

-24.7

222. 1011.0099.8075.5069.90

6.9017.061.76

10.07

27, 00410, 3248,9371,387

8,9296,7192,2107,751

8,7662,4703,2972,999

9,4852,6693,6483,168

10,1842,9783,7063,500

9,5472,7613,5013,285

17,59619, 226

-1,630

-243

-1,8731, 873

1341,739

432, 607326, 018

17, 59610,9441,070

3,6151,967

19, 4691,0405,967

5,8971,892

2591,020

223. 3111.32

101. 3575.5269.98

7.1017.071.519.44

26, 61910,4339,0081, 425

8,1416,0082, 1338,045

8,9022,7622,9263,214

9,0942,6343,4073,053

10, 3393,0463,6983,595

9, 3732,6933,4083,272

15, 23918, 589-3,350

-175

-3, 5253,525

13, 524

434, 344326, 019

15, 2396,846

666

5,7401,986

18,764636

6,107

6,0131,856

276861

224. 7411.34

102. 8275.4669.94

7.0017.131.479.51

26, 65410, 5119,0831,428

8,0115,9692,0428,132

10>9513,3583, 7273,866

10, 1042,8353,6603,609

10,9963,1433,9213,932

9, 6322,6933,4223,517

15, 23720,000

—4, 763

—327

—5, 090

5,0903,7951,295

437, 553329, 814

15, 2373,9054,722

4,3502,259

20,327354

6,872

6,1791,900

3101,042

221.4105 834.019 961.7

236.3105 776.779.432.413.1

5.6

.0

-14. 8

226. 0211.52

103. 8075. 4269. 90

7.0517. 211.359.68

27, 05710, 6209,1761,444

8,3066,2392,0678, 131

10, 5633,2573,5913,715

9, 3102,6823,3913,237

10,7773,1943,8243,759

9, 6812,7673,5313,383

24, 53419, 1135,421

515

5, 935

-5, 935-2, 059-3, 876

435, 470327, 755

24, 53411, 9654,895

5,6552, 020

18,59897

6,507

5,9461,950

238926

227.8911.08

105.2575.4769.93

7.0317.361.50

10. 20

27,48610, 7499,2941,455

8,6926,6382, 0548,045

11, 6773, 6663, 9864,025

9,9342,8843,5593,491

10, 9983, 2393,9383,821

9,5572,7483,4573,352

17, 27519, 723

-2,448

-237

-2,6852, 685-6182,067

438, 350327, 137

17, 2756, 557

733

7,4432,542

19, 960440

6,871

6,1891,919

270970

229,3411.13

106.4375.4969.94

7.0917.441.54

10.20

27,64810, 8519,4061,445

8,8706,7642,1067,927

12,0623,8854,0664,111

9,9722,9003,5343,538

11, 1183,3983,9693,751

9,7912,8513,5263,414

25,53723, 2552,281

310

2,591

-2,591-3, 368

777

437, 329323,770

25, 53711, 1428,138

4,1372,119

22,945641

8,079

8,2141,883

294907

224.9107 335 219 762 6

246.5108.178 680 438.113 8

6 0

p 1

-21.6

230. 1811.10

107. 0775.5569.97

7.1517.531.54

10. 24

27,62410, 9179,4731, 444

8,8466,6802,1667,861

11, 0323,4153, 9623,655

9,7672,8413,6003,326

10,8113,1824, 0613,568

9,7842,8353,6813,268

15, 207(2)(2)

(2)

—3, 3843,3843, 730-346

442, 461327, 499

15,2077,3551,071

4, 2772, 505

18, 5912,6885,193

5,456•• 1, 862

289882

231. 5911.08

108.2475.6370. 03

7.1817. 601.57

10.29

27, 82011, 0459,6151,430

8,9876,7332,2547, 788

12, 0013,5854,3474,069

10,0962,9173,7193,460

11,4433,4424,2133,788

10, 0032,8813,7313,391

18, 213

-2, 369

2,369934

1,435

446, 051328,433

18, 2138,380

665

6,8492,318

20,5811,5325,662

6,0131,864

289855

233. 3411. 09

109. 7375.7270.10

7.2417.691.55

10.33

*> 108. 9

p 20. 1*63.7

* 243. 1^ 106. 2^75.2P82.4"34.6^13.6

r*>6.4.0

* Revised. * Preliminary.1 Data shown in 1970 and 1971 annual columns are for fiscal years ending June 30 of the

respective years; they include revisions not distributed to months.

2 The loan account/expenditure account distinction has been discontinued.9 includes data for items not shown separately.




1970 1971

Annual

1971


1972

Jan. Feb. ; Mar. Apr. May June July Aug. Sept.

FINANCE— ContinuedLIFE INSURANCE— Continued

Institute of Life Insurance— ContinuedPayments to policyholders and beneficiaries in

U.S., total _ mil. $_Death benefits doMatured endowments.. __doDisability payments... __doAnnuity payments doSurrender values : d o _ _ _ _Policy dividends d o _ _ _ _

Life Insurance Agency Management Association:Insurance written (new paid-for insurance) :t

Value, estimated total. . mil. $~Ordinary (incl. mass-marketed ord.) do . _._Group doIndustrial do

Premiums collected:Total life insurance premiums _ _ do _

Ordinary (incl. mass-marketed ord.) do_ _ _Group doIndustrial do. _

MONETARY STATISTICSGold and silver:

Gold:Monetary stock, U.S. (end of period) ...mil. I.-Net release from earmark§ . _ _ _ _ _ _ - doExports ____thous. $__Imports _ _ doProduction:

South Africa mil. $_Canada doUnited States do

Silver:Exports .1 . thous. $_.Imports... __ doPrice at New York _ ___dol . per fine ozProduction:

Canada thous fine oz1

Mexico doUnited States.... . do

Currency in circulation (end of period) bil. $_-

Money supply and related data (avg. of daily fig.) :©Unadjusted for seasonal variation:

Total money supply.... _ _ bil. $Currency outside banks do_Demand deposits ___ do

Time deposit sadjustedf _ . doU.S. Government demand deposits^., do.

Adjusted for seasonal variation:Total money supply _ _ _ do

Currency outside banks.. _ . _ doDemand deposits _ do

Time deposits adjusted^ >. doTurnover of demand deposits except interbank and

U.S. Govt., annual rates, seas, adjusted: JTotal (233 SMSA's) O__ratio of debits to deposits

New York SMSA . doTotal 232 SMSA's (except N.Y.) do

6 other leading SMSA'sd*-. do__226 other SMSA's _ _ „ do

PROFITS AND DIVIDENDS (QTRLY.)Manufacturing corps. (Fed. Trade and SE O.-

Net profit after taxes, all industries mil. $..Food and kindred products.. doTextile mill products do.___Lumber and wood products (except furniture)

mil. $__Paper and allied products do _Chemicals and allied products _ doPetroleum refining doStone, clay, and glass products do___.Primary nonferrous metal do _Primary iron and steel doFabricated metal products (except ordnance,

machinery, and transport, equip.) mil. $Machinery (except electrical) d o _ _ _ _Elec. machinery, equip., and supplies doTransportation equipment (except motor

vehicles, etc.) _ _ „ mil. $..M otor vehicles and equipment doAll other manufacturing industries do

Dividends paid (cash) , all industries. _ _ ... do _Electric utilities, profits after taxes (Federal Re-serve)....... mil.$_.

SECURITIES ISSUED

Securities and Exchange Commission:Estimated gross proceeds, total. - _ _ - _ _ _ . _ _ m i l . $._

By type of security:Bonds and notes, total — ...do....

Corporate i do___-Common stock. doPreferred stock do

16, 449. 47, 017. 3

978. 3232.9

1, 757. 12, 886. 43,577.4

i 193,574123,272163,690

6,612

19, 94014, 9123,7531,275

10, 732-615

37,789237,464

1, 128. 081.8

27, 61364,9571.771

47,483

57.1

210.047.7

162.3208.2

6.4

28, 5722, 549

413

304719

3,4345,893

6271,297

692

1,0662, 6892, 349

5931,4244,522

15,070

88, 666

80, 03730,3157,2401,390

17,177.27,, 423. 3

990.2256.8

1,944.42,881.63,680.9

186, 634131,31947,9487,365

10,132-889

51, 249283, 948

1,098.777.3

19,49949, 5071.546

41, 030

61.1

224.151.1

173. 0253. 8

6.4

31, 0382,754

558

603501

3,7805,829

853621748

1,070' 2, 4892,563

5853,0974,990

15, 252

105,233

92, 27232, 1299,2913,670

1, 348. 6609.573.720.1

164.2241.6239.5

17,49510, 8146,079

602

10, 332-2622,861

48,001

92.36.3

6514,6551.587

1,718

58.9

224.951.9

173. 0258.1

6.8

228.051.7

176.3257.3

81.6189.055.982.845.4

••9,319

'8,639' 1, 824

'416'265

1,466.5638.180.923.6

168.6232.9321.8

15,71810,6244,495

599

10, 1322

43422,732

91.36.1

1,5804,1341.421

2,741

58.8

226.251.9

174.3260.3

7.5

227. 651.9

175. 7259.6

82.2190.655.682.345.2

7,538739139

190141954

1,5082836422

312616633

185406

1,347

3,481

9,445

8,2502,5731,030

165

1, 392. 7605.377.623.0

181.1224.9278.8

14, 77710, 8943,243

640

._.

10, 1320

9723,083

93.46.3

2373,2191.336

4,067

59.2

227.552.2

175.3264.1

5.3

227.752.2

175. 5263.3

82.6199.554.380.044.2

9, 410

8,6872,665

63786

1, 354. 8608. 980.821.3

156.1230.3257.4

15, 09611, 7412,780

575

10, 132-184

23,192

91.76.6

2124,1671.320

3, 499

60.6

229.652.8

176.9265.5

3.9

227.752.2

175.5265.3

86.4203.758.187.246.7

10,569

9, 3002,4361,999

270

1,918.9709.583.521.2

163.5264. 1677.1

20, 23713,4096, 301

527

10, 1325

1,58616, 163

85.75.9

1,3823, 8781.394

3, 287

61.1

235.153.5

181.5269.0

6.7

228.252.5

175.7269.9

83.7196.157.385.246.4

7, 980703175

16576

9041,407

21291

171

202705725

117887

1,442

4,084

6,911

5,7102,4731,032

169

N

13, 8589,8943,366

598

10, 1320

52215, 119

295.326.5

8645,3041.473

3,257

59.4

235. 352.6

182.7273.7

228.852.8

176.0274.4

83.9205.3'56.2

82.046.2

7, 188

6,3542,371

531303

14, 99611, 3343,020

642

9,588-5441,117

19, 390

88.26.4

1,4994,6961.504

3,976

59.8

229.052.6

176.4277.3

231.253.2

178.0278.1

84.5205.156.282.645.8

7,302

6,2612,329

846195

19, 04613,4214,953

672

9,58838

23, 83127, 714

91.86.6

10,5744,6891.536

3,308

60.4

231.353.2

178.1280.8

233. 553.7

179.9279.9

83.0195.257.283.3

'46.9

7,934680139

170168

1,0621,287

125160173

312713564

1631 0101 209

3,899

6,556

5,5802, 253

694282

16, 62111, 9494,018

654

9,5886

88026, 020

93.27.5

5753,5411.572

4,448

60.5

236.153.6

182.6283.1

235. 054.0

180.9282. 8

85.6202.158.987.347.8

8,636

7,7712,411

601263

16, 96012,3743, 705

881

10, 410-1,227

1,63326, 573

94.46.8

2,8956,3551.583

3,032

61.7

231.354.0

177.3286.910.4

235.554.4

181.1287.0

85.6200.858.789.846.9

9, 547

8,3992,4501,017

131

17,98112,5444,865

572

10,4100

2,02925, 801

94.36.2

1,2043,4141.569

2,841

62.2

234.754.6

180. 1290.0

6.8

236.654.7

181.9290.9

84.7199.958.688.147.5

9.633803161

266271

1,0971, 095

328214324

426921763

2751 2011 488

4,106

7,588

5,8022,5551,174

612

15,48410, 8863,958

640

10,4100

3,43611,953

94.46.4

16, 5275,9551. 736

3,527

62.4

237.955.3

182.6292.7

7.2

239.454,9

184.5293.7

82.3194.457.184.246.8

6,989

5, 8902,337

894206

16, 31011, 9353,825

550

10, 41012

16, 33952, 656

9,0402,9631.846

3,244

62.7

' 237. 255. 3

182.0298.1

5.3

' 240. 5'55.0185.5297.1

87.5206.960.290.248.8

7,060

6,1201,892

734206

10,410

1. 777'

* 240. 255.4

184.7301.3

5.8

v 241. 755.5

186.2300.5

' Revised. » Preliminary. 1 Includes $17 bil. SGLI. 2 Beginning Jan. 1972 valued$38 per fine ounce

§Or increase in earmarked gold (—). ©Beginning Jan. 1972 SURVEY, data reflect correctionsto the latest benchmark levels available for nonmember banks and changes in seasonal fac-tors. Revised monthly data back to 1964 will be shown later. IfAt all commercial banks.

t Series revised to reflecfrecalcuiation of seasonal factors; revisions for periods prior to Feb.1971 will be shown later ©Total SMSA's include some cities and counties not designated asSMSA's. (Încludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, andLos Angeles-Long Beach.




1970 1971

Annual

1971


1972


FINANCE—Continued

SECURITIES ISSUED— Continued

Securities and Exchange Commission—ContinuedEstimated gross proceeds— Continued

By type of issuer:Corporate total 9 mil. $

Manufacturing - doExtractive (mining). _ doPublic utility . —do

Transportation § doCommunication » _ doFinancial and real estate do

Noncorporate total 9 doIT S. Government -- - doState and municipal do

State and municipal issues (Bond Buyer) :Long-term doShort-term do.

SECURITY MARKETS

Stock Market Customer Financing*

Margin credit at brokers and banks, end of month,total mil $

At brokers do

Oth ^ *t rTf- at "hnnlrs doFree credit balances at brokers:

Cash accounts do

Bonds

Prices:Standard & Poor's Corporation:

High grade corporate:Composited1 dol per $100 bond

Domestic municipal (15 bonds) do

U.S. Treasury bonds, taxable! do.__-

Sales:Total, excl. U.S. Government bonds (SEC):

All registered exchanges:Market value mil. $Face value do

New York Stock Exchange:Market value doFace value do

New York Stock Exchange, exclusive of somestopped sales, face value, total mil. $

Yields:Domestic corporate (Moody 's) percent _ _

By rating:Aaa doAa do _.A _ do _.Baa do

By group:Industrials doPublic utilities doRailroads _ do

Domestic municipal:Bond Buyer (20 bonds) doStandard & Poor's Corp. (15 bonds) _do

U.S. Treasury bonds, taxable© _. _ do

Stocks

Dividend rates, prices, yields, and earnings, com-mon stocks (Moody's) :

Dividends per share, annual rate, compositedollars.

Industrials. _ _ _ . _ - d oPublic utilities doRailroads.. _._ __ doN.Y. banks _ _ doProperty anfr casualty insurance cos do ...

Price per share, end of mo., composite.. do...Industrials. __ doPublic utilities doRailroads „ ' do

Yields, composite _ percentIndustrials _ doPublic utilities doRailroads -doN Y. banks doProperty and casualty insurance cos do...

Earnings per share (indust., qtrly. at ann. rate;pub. util. and RR., for 12 mo. ending each qtr.)

Public utilities _ _._do._.Railroads -_• do...

38 94510, 5132,093

11, 017

2,2605,1365,517

49, 72114, 83117 762

17,76217, 880

61.572.3

60.52

4, 763. 246, 299. 55

4,328.335, 554. 92

4, 494. 86

8.51

8.048.318.569.10

8.268.679.04

6.346.50

6.59

8.999.764.693.926.77

10.44

226. 70270. 83

79 0665.61

3.973.605.945.974.034.02

I K on6.893.53

45 09011, 5781,283

11, 800

2,4185,8198 814

60, 14317, 32524 370

24, 37026, 281

1 6,535i 5, 700

*835i 1 298

1 3871 1, 837

65.080.0

67.70

8,803.9110,157.90

8,009.579,080.68

6,563.82

7.94

7.397.788.038.56

7.578 138.38

5.465.70

5.82

8.819.504.773.787.28

10.62

261.43318. 7584 1685.12

3.372.985.674.444.143.25

17 55J>7,01

3.93

r2 504T 518

97'853

88359

r 437

6, 8153, 2281 850

1,8501,882

5 9175,121

7961 206

4051,838

63.477.4

67.33

678. 46789 Si

627. 76718 02

489. 80

8.12

7.597.938.208.76

7.808.308.48

5.395.95

5.78

8.779.434.783.847.28

10.66•*'

262. 95322. 2879.7093.50

3.342.936.004.114.343.08

'""".

3,7681,146

901,070

149282704

5,6771,6982 044

2,0442,781

5 9905,208

7821 237

3641,734

64.281.7

69.35

758. 11861. 07

694. 85769. 97

478. 40

7.97

7.447.818.048.59

7.648.128.39

5.245.52

5.56

8.769.434.783.847.28

10.70

261. 31320. 2678.8193.32

3.352.946.074.114.313.11

15 057.104.32

3 38766287

934

190432848

6,0222,4551 679

1,6791,843

6 0165,238

7781 204

3931,765

65.284.7

70.33

773. 19851. 32

704. 31766.77

530. 42

7.88

7.397.697.978.48

7.588.048.25

5.115.24

5.46

8.759.414.783.847.28

10.70

251. 49306. 2582.4186.56

3.483.075.804.444.193.31

3 704811129

1,217

152269963

6,8643,2542 286

2,2862,785

5,9955,198

7971 209

4121,758

66.484.1

70.47

743.05815. 80

683. 91745. 08

497. 11

7.77

7. 267.567.888. 38

7.467.968.13

5.445.30

5.44

8.739.394.793.497.28

10.70

251. 26306. 8779.8082. 15

3.473.066.004.253.973.33

3 67398073

891

232352845

3,237443

2 058

2, 0582,492

6,5355,700

8351,298

3871,837

66.583.5

68.80

872. 36979. 30

803. 14890.20

639.34

7.75

7.257.577.818.38

7.427. 928.12

5.025.36

5.62

8.739.394.813.517.31

10.77

271. 78333. 5185.5692.07

3.212.825.623.813.843.27

19 86P7.14

3.93

3 205392105533

282752945

3,983529

1 737

1,7371, 594

6,8505,989

8611,313

4482,040

67.184.6

68.79

963. 66,011.89

866. 66896. 11

596. 42

7.66

7.197.527.708.23

\

7.347.857.98

5.355.25

5.62

8.759.424.833.517.31

10.79

276. 91341. 0484.1895.27

3.162.765.743.683.883.28

3 36952961

988

146498

1,036

3, 933539

1 942

1,9421,752

7,4276,477

9501,327

4342,108

66.783.8

68.32

862. 43903. 78

770. 82804. 49

521. 85

7.68

7.277.527.708.23

7.397.848.00

5.295.33

5.67

8.789.454.833.587.31

10.91

281. 04348. 6481.4894.21

3.122.715.933.803.913. 24

3, 229604189740

105( 2271,112

3,327586

2 185

2,1853,407

7,8476,896

9511,294

4422,070

66.284.1

68.43

975. 831,013.72

870. 04895.25

569.24

7.66

7.247.537.668.24

7.357.818.03

5.405.30

5.66

8.799.454.863.587.31

10.91

285. 67354. 3080.7795.75

3.082.676.023.743.583.14

18 57*7:21*4.46

3 27558162

1,219

131. 178

752

5,3602,2811 963

1, 963y1,516

8,2507,283

9671,278

4332, 030

65.182.5

67.66

837. 59859. 85

763. 19778. 24

515. 14

7.71

7.307.577.748.24

7.427.878.04

5.205.45

5.74

8.809 494.863.587 31

• 10.99

286. 59356 2677 9494 88

3 072 666 243 773 432.90

3, 598761106738

213391

1 021

5,9492,3601 924

1, 9242,726

8 4727,478

9941 296

4031, 930

65.284.6

68.59

775. 98807. 23

717. 15741. 02

458. 20

7.71

7.307.567.758.23

7.437.888.01

5.155.26

5.64

8.889.584.863.817.31

11.02

289. 90361. 77

77 1392 59

3.062.656 304 113 492.82

4,341767168

1,538

185800529

3,248536

2,222

2,2222,705

7,792

3861,845

65.683.4

69.05

801. 19840. 79

740. 74776.82

443.07

7.66

7.237.517.698.20

7.367.837.98

5.435.37

5. 59

8.879.584.863.787.31

11.02

283.32354. 96

75 2787.87

3.132.706.464.303 533.00

3,436568163767

170582

1,027

3,553496

1,737

1,7871,215

7,945

4031,842

65.683.1

69.23

632. 67679. 82

581. 21625.30

362.57

7.66

7.217.507.718.23

7.397.808.00

5.325.39

5.57

8.879.594.863.787.31

11.02

285. 55357. 8175.1186.96

3.112.686.474.353 283.13

2,833419255631

112235817

4, 227606

1,891

' 1, 911'1,845

65.884.2

69.55

415. 73

7.61

7.197.437.648.19

7.357.697.99

5.385.29

5.54

8.979.604.883.787.31

11.02

295. 79369.6078.2590.16

3.032.606.244.193.082.90

1, 6712,456

65.683.4

68.06

309. 72

7.59

7.227.417.648.09

7.367.637.97

5.305.36

5.70

8.969.604.893.787.31

11.02

294.25366.2478. 4885.86

3.052.636.234.403.022.94

r Revised. *> Preliminary. l End of year. *New series; more detailed informationappears in the February 1972 Federal Reserve Bulletin.

9 Includes data not shown separately. § Beginning April 1971 SURVEY, data re-stated to include "other transportation" in addition to railroad data formerly shown.

c? Number of bonds represented fluctuates; the change in the number does not affect thecontinuity of the series.

^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.O For bonds due or callable in 10 years or more.


October 1972 SURVEY OF CUERENT BUSINESS S-21


1970 1971

Annual

1971

Aug. Sept. Oct. Nov. £>ec.

1972


FINANCE—Continued

SECURITY MARKETS— Continued

Stocks— Continued

Dividend yields, preferred stocks, 10 high-grade(Standard & Poor's Corp.). L percent-

Prices:Dow-Jones averages (65 stocks)

Industrial (30 stocks) __Public utility (15 stocks).Transportation (20 stocks)___._

Standard <fe Poor's Corporation.Îndustrial, public utility, and railroad:

Combined index (500 stocks) ..... 1941-43 =10_ .

Industrial, total (425 stocks) 9 do....Capital goods (116 stocks) ...doConsumers' goods (184 stocks) do ..

Public utility (55 stocks).. _.._do_—Railroad (20 stocks) .. do

Banks:New York City (9 stocks) ..do.—Outside New York City (16 stocks).. ...do.—

Property-liability insurance (16 stocks)_.do_.__

New York Stock Exchange common stock indexes:Composite .. 12/31/65—50

Industrial doTransportation s.do

B Utility... _,„ . doFinance 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 settled.) millions..

New York Stock Exchange:Exclusive of odd-lot and stopped stock sales

(sales effected) millions

Shares listed, N.Y. Stock Exchange, end of period:Market value, all listed shares bil. $Number of shares listed millions

7.22

243. 92753. 19108 75152. 36

83.22

91.2987.8780.2254.4832 13

43.8377.06

78.34

45 7248 0332 1437 2460 00

131 1264 539

103, 0633,213

2 937

612 4915, 522

6.75

298. 12884.76117. 22217. 20

98.29

108.35102. 8099.7859.3341.94

46.3187. 06

115.04

54 2257 9244 3539 4470 38

185 0275, 916

147, 0984,265

3 891

741. 8317, 500

7.04

297. 74875. 40113. 28222. 89

97.24

107. 26100.9099. 8257.5143.55

42.9785.08

123. 73

53 7357.6244 8338.1769.41

15, 327460

12,271337

321

711.9316, 915

6.90

308. 42901. 22111. 20241. 35

99.40

109. 85104. 55103. 3456.4847.18

45.1085.09

127. 11

54 9559 1348 0937 5372 14

12 833393

10, 165286

253

709 0017, 032

6.75

302. 19872. 15113 76236. 52

97.29

107.28100. 66101. 3157.4144.58

45.9184.98

120.71

53 7657 5247 0237 9371 24

12, 994403

10, 214289

280

681 1717, 170

6.78

285. 91822. 11111 03221. 48

92.78

102. 2195.5197.4755.8641 19

46.4283.55

115. 65

51 1754 5044 2936 8768 98

12 304405

9,757295

276

679 4217 320

6.81

301. 72869. 90112. 43237. 81

99. 17

109. 67103.78103. 9257.0743.17

49.7988.74

119. 58

54 7658 8548 3437 5272 28

17 648574

13, 997416

378

741 8317 500

6.:57

315. 61904. 65118 84249. 85

103.30

114. 12109.69106. 4560.1945.16

49.7090.16

119. 26

57 1961 3350 5640 0274 24

16 872'547

12, 971376

380

761 3517 589

6.67

317. 15914. 37113.41255. 10

105.24

116. 86113.90109. 4?57.4145.66

49.2890.19

122. 20

58 4563 3652 8038 5673 74

18 549*609

14 278423

376

782 9417 692

6.76

323.84939.23114. 34259. 48

107.69

119. 73116. 89113. 2057.7346.48

52. 1694.79

128.19

59 9665 1853 7138 5677 15

21 408661

16, 439460

404

790 2217 777

6.91

329.83958. 16110. 56270. 08

108. 81

121. 34120. 19115. 0555.7047. 38

55.76103. 47

133. 66

60 6566 1055 5037 4880 36

18 448584

14, 122413

368

791 0417 916

6.90

322. 26948. 22108. 80257. 34

107. 65

120. 16119. 65112. 6754.9445.06

55.57101.57

139. 43

59 8265 3053 4337 0478 32

17 093507

13 124357

336

810 4318 113

6.93

.315. 09943.43106.27243. 84

108. 01

120. 84120.92113. 4353.7343.66

55.27103.63

132. 63

59 8765 7651 2636 3276 59

16 742'506

12 989360

315

793 2218 432

6.99

306. 91925. 92107. 09229. 95

107.21

119.98119. 13112. 5753.4742.00

57.35106.94

127. 13

59 2165 1348 4536 0275 41

13 925*427

10, 831307

289

791 1018 607

6.90

315. 22958.34109. 07233. 53

111. 01

124.35124.47116. 1754.6643.28

61.28112. 21

131. 71

61 0767 2548 9736 8778 27

357

821 1518 773

7.00

310. 15950. 58109.76222. 86

109.39

122.33121.63113. 1955.3642.37

62.11116.62

129.86

60 0565.7246 4937 8278 41

246

816 2218 875

FOREIGN TRADE OF THE UNITED STATES

FOREIGN TRADE

Value of Exports

Exports (nidse.), incl. reexports, total.. mil. $__

Excl. Dept. of Defense shipments do. ..Seasonally adjusted. do

By geographic regions:Africa _ doAsia _ ._ .. doAustralia and Oceania doEurope _ do

Northern North America.. doSouthern North America _ _ _ __ doSouth America... do

By leading countries:Africa:

Egypt... doRepublic of South Africa do

Asia; Australia and Oceania:Australia, including New Guinea .doIndia.. doPakistan doMalaysia _ do

Indonesia doPhilippines doJapan _ do

Europe:France _ _ _ _ _ doEast Germany. doWest Gerinany ._..do_.._

Italy _ doUnion of Soviet Socialist Republics doUnited Kingdom... do

North and South America:Canada do

' Revised.d* Number of stocks represents nunlber currently

43,224.0

42,659.3

1,579.110,022.81, 188. 214,816.8

9,080.33,241.33,290.0

77.2562.7

1,003.5572.5325.4

66.6

266.0373.2

4,651.9

1,483.032.5

2,740.7

1,353.0118.7

2,536.3

9,079.3

used; the

44, 129. 9

43,548.6

1, 694. 19, 849. 51, 168. 8

14, 574. 1

10,367.73, 154. 23,328.2

62.9622.4

1,018.8648.2211.673.8

263.0340.2

4,054.7

1,380.225.4

2, 832. 0

1,314.0160.6

2,374.0

10,365.7

change I

3,423.8

3,366.23,677.7

141. 7704.1130.6

1, 114. 9

777.4259. 6295.5

2.547.3

119.745.915.66.0

18.925.0

299.7

109.9.2

217.1

96.310.8

156.3

777.4

n numb<

4,259.5

4,219.84,505.0

173.2981.5104.9

1, 421. 1

908.0310.0366. 1

• 5.7 .65.2

91.763.729.48.9

34.434.6

371.2

132.71.8

259.9

120.814.9

240.4

908.0

sr does r

2,891.1

2,825.72,707.9

53.3616.7100.1820.7

917.6223.6161.2

2.017.8

90.438.714.44.7

10.816.4

291.6

80.3.7

164.0

65.79.3

133.2

917.6

LOt

3,264.5

3,221.33,160.3

106.7737.173.7

988.8

931.9230.8194.9

4.052.1

62.344.04.05.5

17.821.5

329.0

82.82.6

203.2

90.513. 7

153.9

931.9

affect9In

4,088.4

4,055.93,858.0

183.0912.4117.7

1,404.2

876.6287.4307.5

8.288.8

100.051.85.88.4

24. 235.6

403.9

125.37.1

261. 4

142.626.6

255.7

876.6

continuieludes ds

3,872.6

3, 814. 84, 220. 8

148.7871.581.6

1,304.2

859.5262.0309. 1

5.267.4

69.241.814.97.6

27.729.7

370.9

121.91.5

229.3

110.82L6

253.8

859.5

ty of theita not sb

3,818.4

3,780.03, 805. 6

131.3809.891.0

1, 289. 6

925.2274.5297.0

5.938.3

74.2f 29.2

15.75.5

25.425.1

321.7

144. 11.7

233.2

114.429.6

182.8

925.2

series,own sep

4,349.2

4,309.73,890.7

136.61,068.8

95.01,436.5

1,024.3296.1291.9

9.148.4

80.245.919.99.5

18. 1> 34.8512.6

172. 45.7

251.7

144.835.1

277.0

1,024.2

arately.

3,936.7

3,886.63, 760. 3

113.2876.085.7

1,248.5

1,071.0275.0267.3

8.640.7

72.018.325.411.4

35.028. 4

372.8

123.5.4

234.7

110.730.2

201.8

1, 070. 9

4, 195. 5

4,142.83,913.5

114.6900.472.4

1,388.4

1,120.1290.5309. 1

3.536.4

59.521.713.39.2

26.930.6

375.0

129.4.3

237.3

163.629.1

197.5

1,119.9

4,050.9

4,014.93,904.7

138.9931.770.7

1,182.8

1,114.6283.6328.7

7.746.4

58.449.217.17.0

29.831.0

387.7

117.0.5

219.6

115.321.0

200.2

1,114.6

3,726.4

3,660.34,019.2

109.9878.584.9

1,187.4

875.5' 279. 4310.8

5.037.5

70.028.214.35.8

22.334.4

376.5

113.5.5

219.9

103.219.3

192.8

873.8

3,991.4

3,945.84,201.7

134.1893.3104.3

1, 246. 5

1,008.9298.1306.3

12.164.0

90.320.815.116.9

11.327.8

405.3

108.8.6

199.0

93.375.1

184. 9

1,008.2


S-22 SUEVEY OF CUKEENT BUSINESS October 1972


1970 | 1971

Annual

1971


1972


FOREIGN TRADE OF THE UNITED STATES—ContinuedFOREIGN TRADE— Continued

Value of Exports— ContinuedExports (mdse.), incl. reexports— Continued

By leading countries— ContinuedNorth and South America — Continued

Latin American Republics, total ? — mil. $._Argentina doBrazil .— - doChile _ do—Colombia doMexico \ doVenezuela- ..__ _—__._.)_ do —

ExDorts of U S merchandise total doExcluding military grant-aid do

Agricultural products, total do .Nonagricultural products, total . do. —

By commodity groups and principal commodi-ties:

Food and live animals 9 _ _ _ _ _ _ _ mil. $__Meats and preparations (incl. poultry). .doGrains and cereal preparations do —

Beverages and tobacco do —

Crude materials, inedible, exc. fuels? — do —Cotton, raw, excl. linters and waste doSoybeans, exc. canned or prepared.... .doMetal ores, concentrates, and scrap do —

Mineral fuels, lubricants, etc.? do.—Coal and related products _ doPetroleum and products do

Animal and vegetable oils, fats, waxes — doChemicals doManufactured goods 9 _ — _ do —

Textiles - doIron and steel... _ _ _ _ _ _ doNonferrous base metals —do —

Machinery and transport equipment, totalmil. $—

Machinery, total? _ do—Agricultural ._ ___doMetalworking doConstruction, excav. and mining. doElectrical do

Transport equipment, total — —do

Miscellaneous manufactured articles doCommodities not classified __... — do —

Value of ImportsGeneral fmports, total _ _ do _

Seasonally adjusted doBy geographic regions:

Africa doAsia do .Australia and Oceania doEurope ... doNorthern North America doSouthern North America _ doSouth America do

By leading countries:Africa:

Egypt doRepublic of South Africa _do

Asia; Australia and Oceania:Australia including New Guinea doIndia - - do .Pakistan . doMalaysia _ do .Indonesia doPhilippines doJapan _. _ do. —

Europe:France doEast Germany doWest Germany doItaly ._ do. _Union of Soviet Socialist Republics. ...do.. —United Kingdom.. „ —do

North and South America:Canada doLatin American Republics, total? do

Argentina _ doBrazil _ _ _ _ _ _ _ doChile. _ _ _ _ _ do—Colombia _doMexico „ „ _— _ do—Venezuela _ .do

By commodity groups and principal commodi-ties: I

Agricultural products, total do....Nonagricultural products, total. do

5,695.2441.0840.5300.3394.8

1, 703. 7759.3

42,590.142,025.47,246.8

35,343.3

4,356.3174.7

2,596.0

701.7

4,604.8372.1

1,215.9939.5

1, 594.71, 044. 1

487.9493.0

3,825.65,065.2

603.11,268.8

892.5

17,881.911,379.3

626.4395.7

1,422.32,999.26,502.63,550.02,570.71,496.3

39,951.6

1,112.99,621.2

870.611,394.611,094.82,850.12,983.1

22.9290.2

622.6298. 180.2

270.2182.4471.7

5,875.4

942.39.4

3,127.01,316.0

72.22,193.6

11,092.04,778.9

171.8669.5157.0268.8

1,218.51,082.0

5, 767. 434, 184. 2

5,667.0391.0966.3223.7378.0

1,622.1787.1

43,491.842,910.57, 694. 9

35,802.3

4,366.6192.0

2,447.4

709.1

4,328.2583.5

1,324.8485.9

1,497.5950.7478.9615.2

3,835.84,413.4

632.1791.1595.6

19,459.811, 596. 0

596.7404.5

1,404.23,068.07,899.04, 151. 12,734.11,531.3

45,562.7

1,236.811,782.5

895.012,845.612; 765. 63,001.43,033.9

19.1286.5

636.2329.277.1

269. 1207.2495.8

7,260.9

1,087.810.1

3,650.81,406.0

56.82,459.1

12,761.74,882.3

175. 9761.890.9

239.41,262.51, 215. 8

5,768.139,834.0

487.232.980.220.431.1

126. 576.0

3,376.73,319.0

546. 02,830.7

309.218.1

170.8

74.4

302.524.4

102.735.4

167.3117.345.645.4

384.7352.256.057.436.7

1,382.9861.938.227.798.0

238.4521.2280.0232.0125.3

3,838.23,928.2

113.3934.888.1

1, 197. 7961.1242.2306. 0

2. 117.7

52.230.26.8

30.121.441.8

530.4

102.5.9

347.6149.4

3.7235.5

961.0449.020.6

100.16. 8

22.688.9

104.0

555.93,291.3

584.247.1

107.524.537.5

134.882.3

4,205.34,165.6

749.83,459.6

445.117.4

277.6

122.7

369.247.893.753.2

158.2106.745.458.1

424.8436.867.970.751.7

1, 814. 21, 100. 6

59.136.7

140.0291.7714.0416.3258.0118.3

4,245.94,237.4

134.71, 104. 0

120.41, 216. 81, 116. 4

222.9335.5

4.330.4

89.041.98.8

24.320.747.2

649.4

98.71.0

356.8120.9

5.3235.4

1, 115. 1461.822.5

103.114.726.788.2

102.5

625.03,628.7

329.613.548.810.018.4

131.339.8

2,838.92,773.5

466,32,374.7

284.014.6

137.5

10.1

266.629.790.924. 3

87.153.329.440.5

204.4253.033.039.324.3

1,382.9822.643. 321.594.5

234.6561.3288.3185.4124.7

3,463.33,522.8

78.6946.762.3

920.91, 094. 9

187.4178.3

1.223.2

48.815.33.1

17.512.938.3

604.5

65.7.6

264.293.54.8

193.5

1,094.9283. 812. 532.3

.79.0

84.985.8

286.03,185.6

372.817.060.814.030.2

136.143.1

3,220.13,177.0

629.22,590.3

383.217.3

189.6

12.0

371.742.0

146.421.9

62.119.835.837.0

223.5315.244.865.536.1

1,496.9893.440.739.0

101.3240.3605.2351.6211.4107.1

3,522.03,378.7

81.01,060.9

45.3786.7

1, 139. 4245.3169.1

.917.3

34.517.43.7

22.314.239.8

706.5

71.0.4

222.389.22.3

150.9

1, 139. 1315.2

8.926.7

.610.7

116.395.5

291.03,239.6

520.943.987.520.529.5

150.869.3

4,031.53,999.1

842.43, 189. 7

460. 223.2

224.4

75.8

463.265.4

158.437.5

122.176.436.459.0

309.1409.366.883.556.0

1,760.31,083.6

44.347.1

121.8300.5677.0337.1258.8113.8

4,278.74,128.4

139.91,327.0

98.71,032.31,130.4

281.4269.4

1.530.4

72.936.29.3

26.818.464.4

811.0

75.81.1

299.7120.5

3.0182.8

1,129.9453.819.162.72.7

23.1120.2109.2

550.93,731.8

504.341.888.017.829.6

133.274.4

,823.8,765.9770. 1

,053.7

379.414.9

215.8

126.2

397.753.9

134.925.4

116. 671. 638.552.4

337.8357.458.862.942.9

1,664.91,047.6

48. 738.4

122.0296.3617.3341.5240. 6150.8

4,279.94,539.6

104. 11, 126. 7

66.01,244.21, 106. 6

296.1330.8

1.517.4

49.642.15.6

27.823.722.8

664.5

102.11.6

325.2155.2

3.8226.9

1, 105. 8518.616.8

100.14.5

30.4122.4119.6

585.83, 694. 1

502.634.196. 918.228.9

140.569.9

, 761. 1, 722. 7715.2

3, 045. 9

373.014.5

229.2

112.0

378.265.2

110.430.7

109.170.531.439.7

351. 8391.959.865.453.2

1, 637. 4,026.7

63.127.7

121.5276.4610.8368.5250.6117.4

4, 177. 34,403.2

119.4999.368.4

1, 240. 61, 144. 0

290.1312.0

1.323,1

46.834.55.8

29.019.630.0

580.7

103. 51.1

336.3142.9

4.6232.1

1, 143. 4512.916.798.16.4

31.6145.697. 2

590.53,586.8

515.126.495.716.625.0

158.873.4

, 289. 5,250.0668.6

,620.9

376.417.7

198.8

49.5

436.272.1

102.941.9

136.587.442.838.2

342.3434.863.874.755.6

2, 057. 61, 190. 3

71.035.2

145.4323.2867.3418. 5284.0133.9

4,844.24,475.0

126.41, 332. 1

73.31,427.61,288.6

317.5275.8

.634.4

48.738.21.5

26.017.149.1

847.1

138.01.0

385. 7164.3

5.8263.7

1,288.1486.915.350.510.717.9

155.0127.8

507.94,336.2

478.323.190.512.823.2

153.770.3

3,861.53,811.5

628.23,233.3

361.718.8

214.4

34.3

399.145.8

125.930.8

131.688.835. 135.8

294.1387.561. 261.451.0

1,801.01, 086. 3

64.233.8

142. 7291.9714.7415.5271.3145. 1

4,247.94,459.7

111.31,108.0

95.31, 159. 71,234.3

310.6223.4

1.821.1

72.730.43.5

20.623.228.9

691.7

98.2.9

317.7139.0

1.9214.2

1, 234. 2421.217.548.34.1

14.5144.795.2

487.73,760.2

534.334.5

102.725.624.5

159.772.3

,127.1,074.4711.9

,415.3

449.027.6

265.2

59.0

386.827.7

109.741. 9

96! 435.642.0

343. 5413.864.069.347.5

1, 895. 21,119.3

71.938.6

139.5305.6775.8438.7264.2137.9

4,722.24,465.9

139.11,251.3

94.91,330.81,339.5

315.1246.0

.433.3

62.142.54.0

30.721.732.2

769.3

112.9.5

395.7132.3

7.9245.6

1,339.2456.114.864.33.3

24.5155.187.0

534.94, 187. 3

552.424.9

108.015.429.9

158. 994.4

,978.2,942.2743.3

,234.8

473. 923.7

295. 8

54.1

371.224.6

106.142.2

123.584.935.962.1

334. 8404.463.570.844.3

1,757.4, 101. 3

69.631. 2

139. 8303.5656.1398. 9265.4131.4

4,766.5

126.81,240.3

96.61, 345. 91, 373. 3

287.5292.3

2.522.1

68.442.83.3

23.320.150.8

707.2

115.8.6

349.2143.6

7.4295.6

1,373.2476.317.774.75.7

21.0125.0113.9

526.74,239.8

526.038.8

112. 414.822.9

153.973.0

3,667.9,601.8681. 8

2,986.1

436.519.5

272.8

59,7

361.917.791.545.6

103.2

36*. 144.5

333.1374.154.664.237.9

1, 574. 5,031.3

63.131.7

137.4283.7

283'. 4261.3119.2

4,313.74, 561. 4

134.61,174.8

87.21,314.41,063.6

258.3277.1

1.236.4

57.538.21.9

24.118.233.8

680. 1

108.7.7

373.2142.3

7.3246. 9

1,062.9447.415.086.212.619.2

121.399.1

471.33,842.4

641.234.9

106.915.023. 3

171.473.0

3,920.03,874.4

684.03,236.0

474.918.7

318.4

66.2

352.810.184.549.3

157.1113.938.237.1

349.4420.366.273.838.6

1,680.71,063.2

58.830.4

130.2296. 4617.5357.4264.7116.8

4,727.34, 664. 3

137.81, 488. 6

127. 81, 341. 61, 027. 3

308.7292.0

1.926.4

92.037.35.1

21.526.150. 8

911.1

132.5.9

380.6173.1

9.7208.2

1,025.8

482.916.176.510.130.7

126. 6104.1

556.14, 171. 2

9 Revised. ? Includes data not shown separately.




1970 1971

Annual

1971


1972


FOREIGN TRADE OF THE UNITED STATES—Continued

FOREIGN TRADE— Continued

Value of Imports — ContinuedGeneral imports— Continued

By commodity groups and principal commodi-ties:

Food and live animals? ...mil. $_.Cocoa or cacao beans doCoffee doMeats and preparations doSugar do

Beverages and tobacco do

Crude materials inedible exc fuels 9 doMetal ores doPaper base stocks doTextile fibers doRubber do

Mineral fuels lubricants etc doPetroleum and products __.... do

Animal and vegetable oils and fats do

Chemicals do

Manufactured goods 9 doIron and steel ___ . doNewsprint ' doNonferrous metals.. _._ doTextiles do

Machinery and transport equipment... __doMachinery, total 9 .— -do

Metalworking ____doElectrical do

Transport equipment doAutomobiles and parts do

/Miscellaneous manufactured articles..! _do 1.

Commodities not classified do

IndexesExports (U.S. mdse., excl. military grant-aid):

Unit value 1967—100Quantity _ _ _ _ _ _ . : _ _ _ - ...do....Value. _ do

General imports:Unit value _ d o _ _ _ _Quantity __ . . doValue _ _ _ : do

Shipping Weight and Value

Waterborne trade:Exports (inch reexports):

Shipping weight thous. sh. tons..Value mil $

General imports:Shipping weight ..._._. thous. sh. tons..Value mil $

5, 374. 7200.7

1, 159. 51,014.4

725.385"5.0

3,307.21,148.9

501.9201.7236.5

3,074.72,764.3

159.6

1,450.2

8,438.32,030.2

929. 61,655.61,135.3

11,171.75, 288. 7

163.72,271.2

5,883.05,067.6

4,846.3

1, 273. 8

110.7123. 9137.1

111.6133.1148.6

239,77424,394

299,16824,728

5,528.8181.3

1, 167. 81, 050. 4

763. 6

875. 53,382.01, 043. 6

502.3158. 4216.0

3, 714. 83,323.3

171.6

1,612.3

9, 545. 82, 725. 4

988.51, 552. 71,392.0

13,873.25, 967. 8

106. 82, 556. 6

7, 936. 06, 846. 5

5,372.9

1,475.6

114.2122.7140.0

117.4144.5169. 6

204,13222, 610

313,16726, 993

529.012.5

141.3102.081. 386.9

301.897.243.517. 623.9

327.2298. 7

11.0

148.2

811.3236.775.6

135. 8112.8

1,027.6442. 8

8. 8185.3

588.9504.2

474.7

120.5

113.0115.0130.0

118.0145.5171.7

18, 1821,865

28, 5282,379

609.712.9

142.7128.998.8

104.4

308.181.240.016.219.2

333.1303.0

17.6

165.9

896. 4259.388.2

149.4134.0

1,213.8523.8

8.6222.6

696.0600.6

484.2

112.6

113.8143.5163. 3

117.4161.7189.8

20, 3202,434

28, 1262,603

290.26.5

31.761.846.2

61.4

247.274.937.87.6

15.6

309.8276.4

13.5

114.5

701. 5219.683.195.582.2

1,149.0495.1

9.4236.0

662.2580.2

449.2

127.1

115. 094.5

108.7

119. 8129.3154. 9

12, 933989

23, 8241,735

302.85.8

44.661.941.3

50.5

254.383.742.53.9

13.7

331.7307.8

12.1

90,1

716.3220.092.1

101.4- 82.7

1,210.6503.6

4.1241.7

715.1620.9

436.7

116. 9

113.8109.3124.4

120.4130.8157.6

13,7721,312

26,2711,624

542.625.492.9

110.371.2

63.3

294.780.542.615. 4 f19.6

400. 9354.7

14.8

116.2

865. 0202. 994.8

150.6151.4

1,302.0550. 4

6.9251.2

753.7650. 9

538. 9

140.3

115.4135.8156,6

118.4161.5191. 1

18, 3742,161

28,0042,377

547.118.3

134.897.075.1

83.5288.9

70.341.913.418.3

398.4352.5

14.8

159.4

872.3175.081.9

150. 8148. 1

1,269.2575.0

9.9232.6

694.2588.0

519.1

127.2

115.9127.2147.5

118. 9160.7191. 0

15, 4322,044

27, 2092,519

540.818.7

114,581.967.5

84.8276.457.242.719.617.0

375.4331.9

21.1

150.8

800.6184.077.7

142.2120.4

1,334.0568.2

9.1211.9

765.8651.3

477.5

116.0

117.2124.3145.8

121.7153.1186.4

15, 0961,968

25,2932, 343

472. 913.460.683.162.6

80.9

313.576.246.712.620.7

427. 4388. 5

15.4

192.0

930.0182.983. 7

177.1134.7

1, 668. 7745.614.3

310. 0

923.1758.7

610.4

133. 0

116.1143.3166,4

123. 9174.5216.2

17, 5922,102

29, 2662,816

475.314.361.192.169.7

68.3

291. 770.942.217.215.5

354.9299.7

12.3

187.5

804.9155.889.7

138.8115.0

1,429.6616.2

7.8252.5

813.4676.3

496. 1

127.3

117. 3127. 3149. 2

124.8151.9189. 6

18, 6011,910

25,3352,452

516.112.895.594.648.4

88.0341.8100.438.317.815.9

375.3334.6

14.3

169.2

993.7266.5

92.2168.6126.7

1,566.6646.713.1

256.8

919.9778.4

524.8

132.2

116.4137. 1159.5

125.1168.5210.7

19,3282, 046

28,3002, 868

525. 513.378.889.8

102. 488.6

324. 195.642.816.811.5

375.1336.1

15.5

175.6

1,017.7263.491.8

200.6127.0

1, 531. 6672.7

9.0282.4

858. 9705.0

580.9

131.9

118.0130.8154.4

126.7167.9212.7

19, 6312,031

30,0502,860

484.39.9

79.2101.865.9

63.6

316.886.736.916.912.7

378.4341.4

16.3

144.2

940.5256.5

85.7147.9118. 5

1, 247. 2610.714.7

266.6

636^5513.0

595.9

126.5

117.7119.9141.0

126.1152. 7192.5

576. 27.6

111.7128.491. 055.7

316. 990.341.419.616.4

400.2365.8

11.1

168. 0

994.1291.983.3

141.3140.2

1,370.5667.112.0

315.8

703. 4552.8

698.9

135.6

116.7130.0151.7

127.3165.8211.0

TRANSPORTATION AND COMMUNICATION

TRANSPORTATION

Air Carriers (Scheduled Service)Certificated route carriers:

Ton-miles (revenue) total^f mil

Operating revenues9© mil. $..Passenger revenues.. doFreight and express revenues. _. do...Mail revenues do

Operating expenses© _. doNet income after taxes© do

Domestic operations:Passenger-miles (revenue) . bil—Express and freight ton-miles. mil..Mail ton-miles do

Operating revenues© mil. $_.Operating expenses© doNet income after taxes©... do

International and territorial operations:Passenger-miles (revenue) bil . _Express and freight ton-miles. mil..Mail ton-miles do

Operating revenues© mil.$__

Net income after taxes© do....

Local Transit LinesFares, average cash rate .cents.Passengers carried (revenue).. ....mil..

18 166

9,2907,627

750306

9,247—199

104. 152,215

715

7, 1807 181-184

27. 561,299

766

^2,1092 066—15

25.75,903

1 18 685

10,0468,221

826288

9, 71832

106. 292, 275

707

7,747<- 7 500

' 22

29.36

617

2, 2982 219

8

26.65,497

1 840

10.7421153

o o-l1 97

44

26.7422

n iA.

1 573

2, 8012,306

22066

2,482169

8.3222354

2,1011 899

100

2 Q1-ion

44

700583

69

26.7444

1 617

8.6122756

49

26. 7463

1 485

8.0320458

59

26. 7464

H QQ

1 710

2,5572,053

24281

2,4949

9.6621680

1,9901 902

28

IAS67

568592-19

26.8460

1 563

9.30172!55

2 A A

42

27.0436

1ft 97

1 439

8.1918955

9 ftfi19Q

39

437

1 9 f\e

1 669

2,5402,108

20968

2,561-46

9.6021063

2,0051, 986-12

2 At

IAS

44

535575

-34

488

19 97K9 9

1,651

9.5919456

9 fi7

38

447

12 0349 4

1,654

9.1521656

9 00

14038

97 9

460

13 9555 9

1,847

10.68218

55

3 2614138

97 9442

15 1060 9

1,931

11.2819249

3 8214436

27 2384

27 8411

••Revised. * Preliminary. \ Ânnual total reflects revisions not distributed tomonthly or quarterly data.

9 Includes data not shown separately.Âpplies to passengers, baggage, cargo, and mail carried.

§Passenger-miles as a percent of available seat-miles in revenue service; reflects proportionof seating capacity actually sold and utilized. ©Total revenues, expenses, and incomefor all groups of carriers also reflect nonscheduled service.




1970 | 1971

Annual

1971


1972


TRANSPORTATION AND COMMUNICATION—Continued

TRANSPORTATION— ContinuedMotor Carriers (Intercity)

Carriers of property, class I :Number of reporting carriersOperating revenues, total ^._mil. $__Expenses, total — _ ___.doFreight carried (revenue) mil. tons..

Freight carried, volume indexes, class I and II(ATA):

Common and contract carriers of property(qtrly.) tf average same period, 1967=100—

Common carriers of general freight, seas. adj.1967=100-

Carriers of passengers, class I:Number of reporting carriers _ ....Operating revenues, total _ .mil. $. .Expenses, total doPassengers carried (revenue) mil-

Class I RailroadsFinancial operations, qtrly. (AAR):

Operating revenues, total9 mil. $__Freight _do ...Passenger © .do

Operating expenses © _ doTax accruals and rents -'_ .doNet railway operating income doNet income (after taxes) © _ _ do.—

Traffic:Ton -miles of freight (net), revenue and nonrev-

Revenue ton -miles, qtrly. (AAR) _doRevenue per ton-mile centsPassengers (revenue) carried 1 mile.. mil-

TravelHotels and motor-hotels: §

Average sale per occupied room dollars..Rooms occupied %of totalRestaurant sales index. ..same mo. 1951= 100..

Foreign travel:U.S. citizens: Arrivals. thous..

Departures doAliens: Arrivals _._ _ do ...

Departures do_— _Passports issued .... „_. do.. ..

National parks, visitsf.. _ do .

COMMUNICATION (QTRLY.)

Telephone carriers:Operating revenues 9 mil $

Station revenues doTolls, message do

Operating expenses (excluding taxes) doNet operating income (after taxes) do . . —Phones in service, end of period ... mil-

Telegraph carriers:Domestic:

Operating revenues mil $Operating expenses . doNet operating revenues (before taxes)... do

International:Operating revenues doOperating expenses doNet operating revenues (before taxes) do

U,35911,05010, 655

554

112.4

111.1

172724.5640.7174.0

11,98210, 913

4209,6501,845

4876229

777.2764.8

41.4314 10,770

13.2555

114

6,6596,4994,0653.4492, 219

45, 753

18,1008,9086,947

11,5963,010104.1

402.5334.634.0

193.7144.939.3

119.0

124.5

172760.9666.5167.3

712,68911, 786

729410, 053

1,939698

6350

752.2738.31.5948,901

13.5654

114

7, 5917,0594,3253,5672,399

48,863

19,8119,6997,655

12, 8863,354108.4

396.8337.031.7

206.0150. 844.3

128.7

14.0156

108

1,065777514449203

9,802

122.0

121.5

73,1022,885

7562,458

478166666

179.3

14.2355

116

768598453325147

4,978

5,0082,4461 9413 325

809107 1

95 582.74.4

50.937 810 2

119.9

15.0662

117

647509365313106

3,417

125.0

13.5253

108

544442305269113

1,931

112.0

124.9

728 416. 08 346. 2886.5

73,0942,888

7622,506

447142

6 fifi

8363 3176.1

51.62285,067

12.3641

116

427530320322121

1,246

5,1462,5261,9593,406

873108.4

111 490.215 7

52 838.911 3

125.7

3 18. 33353103

655500403285158

1,273

129.9

18.0258

109

579531294238227

1, 553

9 5, 0179 2, 4739 1, 9479 3, 199

9 8649110.9

124.0

135.6

73,1953,000

7 63

2,530496170679

185.2

18.7362

132

618674367287327

2,184

10 5, 65310 2, 78910 2, 18410 3, 654

1096010115.8

137.0

19.0766

143

765612381303314

2,898

\_

137.4

19.3566

140

704730386330328

4,390

135.3

7 3, 4373,226

7682,686

512239

199.0

19.5368

136

749j 931

445382329

7,258

127.6

2 54". 9

19.4563

124

1,0551,003

579450249

10,819

-,••

261.7

19.8368

117

23510,393

H78.7

174

CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Inorganic chemicals, production:Acetylene J_._ _. mil cu ftAmmonia, synthetic anhydrousf thous sh tonsCarbon dioxide liquid gas and solidj doChlorine gas (100% Clj)J doHydrochloric acid (100% HCl)t doNitric acid (100% HNOs) doOxygen (high and low purity) O mil cu ftPhosphoric acid (100% PaOs)t thous sh tonsSodium carbonate (soda ash), synthetic (58%

NajO)J thous sh tonsSodium bichromate and chromate doSodium hydroxide (100% NaOH)J doSodium silicate anhydrous doSodium sulfate anhvdroust doSulfuric acid (100% HjSOOt do

14 83413 5701 1159 7601 9976,685

329 7295 685

4 393'l54

10 064645

1 ^fiR

29 525

13 64713 7191 2589 3492 0256 671

313 4166 *034

4 4 275'l31

9 692*605

1 3V1

29 422

1 0381 149

131788158510

20 740468

3549

81844

1012 262

1 0181 099

5 117772166533

23 565500

3419

79147

1062 323

A 1,0551 166'l!2808165552

24 926496

36012

83156

1102 405

1,1191 161

103808171554

24 342471

3569

84053

1112 466

1 0931 245

99842176616

26 274541

41110

87653

1132,742

1 0231 108

91786173588

27 275496

32210

82443

1092,440

1 0021 169

89772170585

26 651' 509

35511

80947

1102 447

9971 237' 115799186625

28 713560

38111

83965

1222 679

9171 280

108807177626

28 691541

36710

84155

1092,646

8931 290'l23845178623

30 353551

38311

88056

1302, 713

r 953f 1 212

129810181

'577r 29 388

r490

34211

837r 54

r H£r 2, 522

9251 150

123838180531

28, 884501

35512

86345

1052,487

1 198

519

494

2,624

r Revised. * Preliminary. 1 Number of carriers filing complete reports for the year.2 For month shown. s See note "§". 4 Annual total reflects revisions not distributed

to the monthly or quarterly data. s Based on six months ending in month shown. «Be-fore extraordinary and prior period items. 7 Reporting roads only; excludes AMTRAKoperations. s For six months ending in month shown. a For 1st qtr 1971, 72 carriers.

10 For 72 carriers. » For 5 weeks.cflndexes are comparable for the identical quarter of each year (and from year to year).©Natl. Railroad Passenger Corp. (AMTRAK) operations for 1971 (mil. $): Operat-

ing revenues, 86; expenses, 179; net income, -55 (Interstate Commerce Comm.). 9 In-cludes data not shown separately. tRevised monthly data back to 1969 will be shown later.

O Not comparable with data in 1971 BUSINESS STATISTICS.§Effective Jan. 1972, data reflect an expanded sample that includes many motor-hotels;

comparable Aug. 1971 figures are as follows: Average sale per room $19.30; occupancy, 65%.IData include visits, effective Jan. and July 1971, to Guadalupe Mts. and Redwood Na-

tional Parks, and effective Jan. 1972, to Arches and Capitol Reef National Parks.




1970 1971

Annual

1971


1972


CHEMICALS AND ALLIED PRODUCTS—Continued

CHEMICALS— Continued

Organic chemicals, production :o*©Acetic anhydride mil IbAcetvlsalicylic acid (aspirin) doCreosote oil mil. gal

Ethyl acetate (85%) mil IbFormaldehyde (37%~HCHO) doGlycerin, refined, all grades:

Production doStocks end of period _ _ _ _ do

Metbanol synthetic mil galPhthalic anhydride mil. Ib

ALCOHOL

Ethyl alcohol and spirits:!Production mil. tax galStocks, end of period - - - - doUsed for denaturation doTaxable withdrawals do

Denatured alcohol:!Production mil. wine galConsumption (withdrawals) doStocks, end of period _ ___ do

FERTILIZERS

Exports total 9 thous. sh. tonsNitrogenous materials _ __ _ do_ _Phosphate materials doPotash materials _ do

Imports:Ammonium nitrate doAmmonium sulfate doPotassium chloride doSodium nitrate _ _ _ _ _ _ _ do___

Potash deliveries (KsO) - doSuperphosphate and other phosphatic fertilizers

(100%P305):Production!.. _ __ _ thous. sh. tonsStocks, end of period do

MISCELLANEOUS , PRODUCTS

Explosives (industrial), shipments, quarterly §mil. lb__

Paints, varnish, and lacquer, factory shipments:Total shipments _mil. $._

Trade products doIndustrial finishes _ _ do

Sulfur, native (Frasch) and recovered:Production. __ ... thous. Ig. tonsStocks (producers'), end of period do

PLASTICS AND RESIN MATERIALS

Production:

Thermosetting resins:Alkyd resins mil. IbPolyester resins __ doPhenolic and other tar acid resins doUrea and melamine resins do _._

Thermoplastic resins:Cellulose plastic materials— do....Coumarone-indene and petroleum polymer

resins _ _ mil. IbStyrene-type materials (polystyrene) doVinyl resins (resin content basis) _ _ _ _ doPolyethylene _ _. . do

U,589.0i 35.2

1 103. 4

1 161. 41 4,426.9

336.129.6

i 742. 7i 734. 0

630.5164.0513. 884.7

276.9276.2

3.0

16, 0051,133

12, 543966

326218

4,165129

4,603

4,596484

2, 046. 5

2, 737. 11, 497. 61,239.4

48,5314,038

i 635. 61 569. 3

1 1, 185. 91 746. 2

i 182. 2

i 282. 61 3, 549. 71 3, 756. 41 5, 844.1

U,545.831.7

119.21 159. 8

14,373.1

339.828.2

i 754. 7i 766. 4

553.8132.8436.588.0

234. 0234.5

2.9

i 17, 1061,050

U3.4311,033

374229

i 4, 549203

5,026

4,966389

2, 120. 0

2, 830. 91, 562. 81,268.2

«8,6204,311

(2)i 637.7U,141.8i 683. 4

(2)

(2)i 3,749.814,075.8i 6,395.8

120.62.69.0

11.6361.8

30.324.261.662.3

43.6146.135.27. 7

19.018.92.8

1,350129

1,00585

1721

40723

325

394382

274.0158.9115.1

7344,190

67.493.257.9

331.5338.9545.1

123.02.97.2

13.8413.2

28.826.857.858.3

46.9138.834.27.9

18.318.42.7

1,66695

1,327101

3111

46347

364

420339

567.7

266.8149.9116. 9

6964, 208

71.9107. 064.2

328.3347.5557.2

116.03.0

10.7

11.7409.0

28.527.860.965.1

:56.4135.037.98.2

20.320.12.9

1,318111

1,01088

1934

354(3)

437

418287

226.8119.6107.2

7694, 321

62.2108.164.9

315.3381.4561.0

115.12.49.7

9.7387.6

29.827.367.872.8

51.6136.737.19.0

18.218.22.9

1,32264

1,07978

1415

4680

404

415343

208.9107. 6101.3

7454,388

58.2105.160.6

326.9363. 4557.1

113. 52.7

10.6

16.7338.3

26.428.272.969.8

46.9132.836.27.5

19.619.62.9

1,30813389985

1713

3162

389

484389

486.9

183.390.892.5

7544,311

55.894.256.8

338.8372.6579.6

120.33.48.8

11.5400.2

26.727.267.566.4

38.0126.535.16.7

18.919.42.4

1,630137

1,209109

2828

46813

423

417389

209.6101.4108.2

7484,374

(2)117. 8

(2)

318.56 332. 4573.5

118.12.7

10.0

13.1419. 1

29.529.464.166.3

43.8123.336.86.5

19.719.62.5

1,56392

1,072121

3634

37714

381

443338

226.0117. 4108. 7

7314,297

109.5

324.1• 312.9

566.8

132.03.1

12.0

17.2449.5

29.028.978.766.7

46.1108.639.07.7

21.020.82.9

1,185123882

67

5236

5826

651

505279

622.6

261.0140.2120.8

7774,274

120.2

357.3354.4625.7

127.03.29.2

16.5408.0

29.926.868.671.0

43.7109.338.27.0

20.620.43.1

2,03468

1,80260

7138

6405

603

489235

252.7143.2109.5

7324,267

121.4

357.7339.1622.8

129.53.1

10.1

21.9462.1

32.229.875.075.9

52.4101.839.88.0

21.822.02.8

1,21654

968118

7314

4531

547

498240

285.8162.0123.8

7384,156

123.1

395.0349.9644.3

119.43.0

10.3

20.5443. 4S

31.426.270.595.0

56.7100.036.88.4

21.021.02.8

2,18278

1,84979

1914

28331

388

••431324

573. 0

' 292. 4' 171. 7' 120. 7

7154,104

122.9

391.2352.8603.9

121. 12.7

'8.9

11.8' 384. 5

'25.726.3

'75.1' 82. 1

54.798.138.66.0

21.121.23.0

1,69775

1,324133

1013

2604

174

427410

257.6160.097.7

7414,159

'116.7

'370.7' 323. 3

604.3

124.22.5

11.3

21.3

32. 125.985.374.2

1,643104

1,217124

1516

29823

'307

416366

285.4166.7118.7

7964,127

123.9

389.8347.3658.0

*387

ELECTRIC POWER AND GAS

ELECTRIC POWER

Production (utility and industrial), total Jmil. kw.-hr__

Electric utilities, total d o _ _ _ _By fuels doBy waterpower___ _._ _ _ do

Privately and municipally owned util doOther producers (publicly owned). _ _ _ d o

Industrial establishments, total doBy fuels doBy waterpower do

1,639,771

1,531,6091,284,153

247, 456

1,254,583277, 026

108, 162104, 919

3,243

1,717,520

1,613,9361,347,616266,320

1,322,540291,396

103, 585100,325

3,260

154, 507

146, 075125,92322,152

119,75426, 322

8,4328,198

234

146, 241

137, 819118, 84018, 979

114,42823,391

8,4228,197

225

139, 845

131, 043111, 36719, 675

108, 87322, 170

8,8028,553

249

139, 231

130,857110, 42720, 430

107, 72823,129

8,3748,120

254

148,369

139, 724115,94123, 783

115, 02224, 701

8,6458,381

263

153,445

144, 575120, 07824, 497

118, 86025, 715

8,8708,597

273

145,729

137, 301115, 12822, 172

112, 97324, 327

8,4288,190

238

149, 055

140, 056115, 92924,127

115, 01025, 046

8,9998,712

287

140,883

132,138108,70523,434

107, 73024,409

8,7448, '447

298

146,663

137, 745113, 37524,370

112,96024, 785

8,9188,615

303

' Revised. » Preliminary.1 Reported annual total reflecting revisions not distributed to the monthly data,

discontinued. 3 Less than 500 short tons. * Annual total reflects sulfur content, whereasmonthly data are gross weight. 5 Gross weight. 6 Beginning Jan. 1972, data excludepolyvinyl acetale, polyvinyl alcohol, and other vinyl resins; comparable Dec. 1971 figure,320.1 mil. Ib.

©Scattered revisions have been made in the annual data back to 1967; monthly revisionsare not available.

cfData are reported on the basis of 100 percent content of the specified material unlessotherwise indicated. 9 Includes data not shown separately.

§Data exclude black blasting powder.f Revised monthly data for 1970 will be shown later.




1970 1971

Annual

1971


1972


ELECTRIC POWER AND GAS—Continued

ELECTRIC POWER— Continued

Sales to ultimate customers, total (EEI) mil.kw.-hrCommercial and industrial:

Small light and power§ doLarge light and power § do _

Railways and railroads doResidential or domestic _ _ doStreet and highway lighting _ _ d o _ _ _ _Other public authorities doInterdepartmental do _

Revenue from sales to ultimate customers (EdisonElectric Institute) - mil. $.

GAS

Manufactured and mixed gas:

Residential 1 —~ I-doIndustrial and commercial do

Residential do

Residential do

Natural gas:

Residential __ doIndustrial and commercial... ___do

Sales to consumers total 9 mil thermsResidential... doIndustrial and commercial do

Residential doIndustrial and commercial do

1,391,359

312, 750572, 522

4, 633447, 79511, 18337, 8164,660

22,065.9

53549340

1 480843637

134 685 649 0

41 36837, 9683,344

152 21548,394

103, 821

9 8745* 1224 753

1,466,441

333, 752592,700

4,537479,08011,67339, 8194,880

24,725.2

57053533

1 451828692

137 391 446 0

42 02438, 5513,431

156 83249,454

107,378

10 9145 5705 344

128,685

30, 91249, 698

35143,026

9043,371

423

2, 207. 2

130, 062

31, 24150, 561

34243, 093

9653,445

414

2,253.8

55752234

1546488

15 88 57 0

41 37838,0323, 307

31 1834,186

25,429

1 774 6620 5

1 092 5

123,996

29, 21950, 593

35339, 0221,0183,376

415

2, 148. 9

119, 753

27, 47150,069

37037,0481,0633,348

385

2, 062. 0

123, 145

27, 35849, 606

40040, 8911,1173,374

399

2,121. 0

57053533

357195154

31.423.27.4

42, 02438, 5513,431

39, 42811, 50626, 195

2 773 01 352.21 342.9

128, 150

28,00850, 145

42344,6441,1203 397

414

2,213.9

127, 924

27, 95450, 268

41744, 295

1, 0463,529

415

2,221.3

127, 079

27 95251, 555

41042, 1621 0233 551

425

2,203.4

124, 326

27, 91551, 825

36539, 352

9713,488

410

2, 179. 5

123, 457

28 24753, 161

36836, 813

9283 526

413

2,178.2

128,367

30 51453, 651

33538, 827

9013 671

469

2 286.8

134 108

32 42352 492

34543 899

9063 601'442

2, 412. 0

FOOD AND KINDRED PRODUCTS; TOBACCO

ALCOHOLIC BEVERAGESBeer:

Production mil bblTaxable withdrawals doStocks end of period do

Distilled spirits (total):Production _ mil. tax gal_.Consumption, apparent, for beverage purposes

mil. wine gal__Taxable withdrawals. ...mil. tax gal__Stocks end of period doImports mil proof gal

Whisky:Production mil. tax gal__Taxable withdrawals doStocks, end of period doImports mil proof gal

Rectified spirits and wines, production, totalmil. proof gal. _

Whisky doWines 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 __doImports. do

Distilling materials produced at wineries.-.do

DAIRY PRODUCTS

Butter, creamery:Production (factory) } mil. lb__Stocks, cold storage, end of period doPrice, wholesale, 92-score (N.Y.) $ per lb__

Cheese:Production (factory), total} mil. lb_.

American, whole milk} do

Stocks, cold storage, end of period do__American, whole milk. do

Imports doPrice, wholesale, American, singfe daisies (Chi-

cago) . $ per Ib

' Revised. * Preliminary. 1 Reported annual tmonthly data.

2 Includes Hawaii; no monthly data available.

133. 12121.8612.26

212.29

2 371. 52173. 71

1, 008. 5490.89

146. 36112. 88954. 5875. 59

113. 6764.37

23.0320. 367.381.79

245.04216.97293. 3228. 23

303.08

1, 137. 0118.8.704

12,203.81, 423. 4

324.5254.0161.3

.649

otal revis

137. 36127. 5212. 23

182. 36

2 382. 34182. 01996. 62102. 14

119. 41116.79945.80189.29

116.1163.05

24.6022.108.571. 88

357. 33247. 20366.35i 34. 28

402.38

1,143.696.8.693

12,380.41, 510. 6

304.3238.995.5

.671

ions are n

12.2811.8913.64

10.14

30.6516.99

1,001.437.78

5.8610.64

952. 856.59

10.285.54

2.231.329.80.17

9.1818.73

173.303.59

4.32

81.1246. 8.687

198.9127. S

378.8303. 9

8.9

.670

ot distril

11.4110.9613.31

13.42

30.3717.45

997. 5218.55

8.5611.74

949. 8215.75

10.465.88

2.091.75

10.01.35

57. 6520.42

209. 015.38

113. 99

69.4222.0.692

181.2111.1

357.6283.714.0

.669

DUted to

10.539.80

13.31

17.71

31.3717.92

996. 1610.18

10.7912.34

947. 178.89

10. 976.17

2.052.399.54.22

126. 4422.26

310. 062.99

176.09

79.9188.9.688

184.8109.7

333. 5262.4

6.4

.669

the

9.869.74

12.78

18.35

38.6418.26

993.628.24

11.4112.19

944. 547.46

12.146.85

2.382.818.99.14

69.0523.13

347.501.49

73.30

79.3155.0.688

177.3103. 6

316.7250.9

3.4

.669

§Eclassi

*E

10.029.83

12. 23

18.75

47.2815.52

996. 627.18

11.259.59

945. 806.48

9.774.95

2.662.918.57.12

54.2125.31

366. 352.09

16.45

89.996.8,690

197.8114.6

304.3238.9

9.7

.676

ata arefication.evised d

9.968.75

12.97

18.66

26.0313.97

1,000.986.00

12.868.49

949. 315.14

8.193.69

1.951.369. 07.14

7.9721.17

350. 633.03

4.04

101.579.1.688

199.0124.0

296.2232.113.8

.684

not who'o anotheata for m

10.389.09

13.64

16.27

26. 5912.52

1,003.896.47

12.288.40

952. 825.54

8.194.22

1.201.059.09.15

7.6019.91

335. 343.62

6.76

99.493.1.688

197.3122.9

285.0223.617.2

.707

ly compr. 9 ]onths pr

12.6211.6913.82

18. 76

33.3015.97

1, 006. 668.17

13.3710.38

955. 907.10

10.155.29

1.761.489.24.15

8.2325.69

314. 473.57

2.89

106.8109.7.688

230.8147.7

288.9228.412. 7

.727

arable orincludesior to Ma

12.5311.0914.51

16.50

28.6714.24

1,008.086.69

11.318.86

957.725.76

9.455.11

1.581.089.69.14

4.8421.00

297. 852.87

4.06

110.2130.9.688

232. 1153.9

311.7246. 710.0

.719

i a yeardata noty 1971 w

13.2512.4114.45

18.88

32. 4516.61

1,009.327.45

12.119.72

959.376. 50

10.876.02

1.821.579. 81

.16

8.1621.75

281.433.84

2.92

119.4159.1.688

250.8172.1

346.9277.513.0

.702

to year Ishown s<01 be sho

14.2113.1214.40

16. 50

35.1918.19

1,007.569.27

9.8910. 83

958. 398.20

11.446.36

1.651.789.58.15

7.5124. 24

262. 063.80

.48

111.1194.8.688

257.9176.4

378.9309. 910.1

.702

Dasis beejparatelywn later

13.1812.2214.49

15.83

14.191,001.98

6.99

4.729.36

952. 976.20

8.975.47

.791.019.31.12

7.5217.70

251.813.49

.96

89.4211.4.688

237.8164.2

407.6341.314.9

.707

ause of c

13.0912.8913. 75

6.13

5.26

.12

4.02

76.3' 198. 2

.704

220.0145.6

'409.8'342.0

14.1

.709

hanges fi

177.3. 710

396. 2328.4

.709

rom one


October 1972 SURVEY OF CUKKENT BUSINESS S-27


1970 1971

Annual

1971


1972


FOOD AND KINDRED PRODUCTS; TOBACCO—Continued

DAIRY PRODUCTS— Continued

Condensed and evaporated milk:

Production, case goods o1 mil. Ib

Stocks, manufacturers', case goods, end of monthor yearcf mil. Ib

Exports:Condensed (sweetened) do

Fluid milk:Production on farms. . mil. IbUtilization in mfd. dairy products doPrice, wholesale, U.S. average $ per 100 lb__

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: " """"Dry whole milk v doNonfat dry milk (human food) do

Price, manufacturers' average selling, nonfat drymilk (human food) $ per Ib

GRAIN AND GRAIN PRODUCTS

Exports (barley, corn, oats rye, wheat) - .mil. bu

Barley:Production (crop estimate). . doStocks (domestic), end of period.... ...do _

On farms _ doOff farms do

Exports, including malt§ .doPrices, wholesale (Minneapolis):

No. 2, malting $ per buNo. 3, straight do

Corn:Production (crop estimate, grain only) mil. buStocks (domestic), end of period, total. _mil. bu_

On farms.. . doOff farms _ do

Exports, including meal and flour. do _Prices, wholesale:

No. 3, yellow (Chicago) $ per bu._Weighted avg., 5 markets, all grades do

Oats:Production (crop estimate) mil. buStocks (domestic), end of period, total do. _

On farms . _-_ doOff farms _ _ _ _ . . ... do

Exports, including oatmeal. _. . doPrice, wholesale, No. 2, white (Chicago)

$ per bu_

Rice:Production (crop estimate) mil. bags9_.California mills:

Receipts, domestic, rough mil. lb._Shipments from mills, milled rice doStocks, rough and cleaned (cleaned basis), end

of period _ mil. Ib

Southern States mills (Ark., La., Tenn., Tex.):Receipts, rough, from producers mil. lb__Shipments from mills, milled rice doStocks, domestic, rough and cleaned (cleaned

basis), end of period. _ mil. lb__Exports _ _ doPrice, wholesale, Nato, No. 2 (New Orleans)

$perlb__

Rye:Production (crop estimate) mil. buStocks (domestic), end of period... ___do_Price, wholesale, No. 2 ( Minneapolis) _ _ $ per bu__

Wheat:Production (crop estimate), total mil. bu_

Spring wheat doWinter wheat do

Stocks (domestic), end of period, total _ do

Off farms do

1 268. 3

115.7

16 433 3

117, 1498 58 961

5.71

68.781 444 4

4 78 98 5

13 8212 3

263

1, 337. 5

2409.8380.7238.5142. 255.1

1.141.13

24,0993,7362,7231,013572.0

1.351.33

2909913702211

21.3

«.72

283.8

1,7551,393

82

6,4974, 433

1,7483,828

.085

238.841.61.15

2 1,3702260

2 1,1101,492

1,415

884

1,244 8

88 6

35 132 7

118,6408 60, 363

5.87

7 77. 83 1 417 6

4 087 3

25 07 124. 2

.307

7 1, 204. 5

2 462. 5391. 3254.4136. 9

7 53. 2

1.211 20

2 5, 5404,6423,4931,148

7 511. 7

1.3941.36

2876937687251

7.16 .75

284.3

2,0041,446

98

5,5674,206

1,7373,252

.087

250.954.91.06

21,6402476

2 1, 1631,502

1,554

853

105.8

172.9

2 9

9,9035,0425.75

5.6116 7

7.5155 6

5.42.8

.320

81.7

1.6

1.111 11

37.3

1.291.29

.4

.64

12660

109

924458

829190

.087

.94

84.5

163 0

21 2

9 3654 3^75.99

5.386 0

7.0119 7

3 66.5

.320

134.5

487.7316 6171.1

2.8

1.091 09

3 6633 423324068.3

1.151.13

1,086806281

.6

.68

11986

113

1,627498

1,504440

.087

65.1.95

489

1,881834

1,047

79 5

151 5

82 4

9 4194 3716.09

6.586 8

6 7106 5

1.54.1

.320

62^ 6

2.4

1.161.16

25.9

1.101.11

.2

.73

287218

101

1,106427

1, 840395

.087

.96

79 5

111 7

2 92 8

8,9504 1096.17

4.978 6

5.391 3

3.318.4

.321

110.9

2.3

1 151 16

66.7

1.071.09

2

11788

93

397294

1,869160

. 087

.92

92 0

88 6

2 43 5

9 4234 4676.17

4.793 1

4 087 3

1 611 5

319

122 3

391.3254 4136 9

5 5

1 161 16

4,6423 4931 14865 8

1.21-1 20

937687251

3 1

.78

12982

98

439509

1,737232

.089

54.9.93

328

1,554700853

84 0

73 9

1 13 3

9 6354 9916.13

7.098 5

4 676 3

3 510 7

318

106 2

.2

1.191 18

63.9

1.221.22

2 6

9161

97

570610

1, 566276

.089

1.06

85 0

63 8

1 02 9

9,3465 0506.10

6.5100 0

4 068 7

3 37.1

320

109 6

.3

1 181 18

58.6

1.211 21

1 7

8566

86

298375

1,428535

.089

1.08

104 5

61 3

5 09 Q

10, 4405 7876.01

8.2118 0

4 362 2

3 915 4

319

110 5

283.0165 1118 0

2 6

1 161 16

3,3442 447

89748 7

1.231 21

731502229

6 6

10740

115

279341

1, 290219

.089

49.31.05

341

1,213528685

105 5

77 0

3 43 2

10, 6555,9015.84

8.1128 9

5 273 6

2 310 7

322

117.7

3.1

1.161 16

62.0

1.261.23

3 5

10665

120

285430

1,078242

.089

1.06

124 4

107 3

2 82 9

11, 3076,5545.76

8.5153 0

5 693 4

3.424.4

.317

147.7

17.7

1 181 18

63.0

1.291 23

1 9

11968

130

197466

803338

10.091

1.09

130 8

v 123 7

13 2

11, 0216,6735.76

7.3160 0

7 6106 0

2 826.5

.318

152.8

3 174. 23 106 5

3 67.711.6

1 201 21

2,1761 568

60965 2

1.271 20

354933333 216

3 4

16483

165

51396

491528

.091

345.11.02

348

386533573509

109.4

e 144. 3

33 1

10, 5035 8875.78

4.3127 4

7 2107 1

4 917 4

319

137 4

8 9

1 181 17

63 9

1 22

2 6

80

297282

116

208245

395Rd.1

.091

1.01

109.5

138.8

.15.0

10,0655,405'6.01

4.899.4

6.089.7

2.212.5

.322

173.5

2.2

1.181. 18

97.1

1.30.1.21

.4

.79

328259

104

1,128332

858360

.091

1.00

9,494

P6.21

« 418. 2

1.251 25

9 5 266

1.361 28

9731

82

9 85 3

82112

46

.100

9 31 3

1.02

9 i 559fl 3Q1

•1,198

•Revised. * Preliminary. * Less than 50 thousand pounds. 2 Crop estimate for the year.3 Previous years crop; new crop not reported until beginning of new crop year (July for

barley, oats, rye, and wheat; Oct. for corn).- * Effective May 1971, weighted average, 4markets, all grades. « Average for Jan., April-Sept., and Dec. « Average for Jan.-April,June-Oct., and Dec. 7 Annual total reflects revisions not distributed to the months.

» Oct. 1 estimate of 19728 Monthly revisions for Jan. 1970-Apr. 1971 will be shown later.

crop.10 Effective May 1972, price is for No. 2 (Southwest Louisiana) .cfCondensed milk included with evaporated to avoid disclosing operations of individual

firms. §Excludes pearl barley. 9 Bags of 100 Ibs. e Corrected.




1970 1971

Annual

1971


1972



GRAIN AND GRAIN PRODUCTS— Con.

Wheat— ContinuedExports total, including flour mil. bu

Wheat only _ _ . do

Prices, wholesale:No. 1, dark northern spring (Minneapolis)

$ per bu__No. 2, hd. and dk. hd. winter (Kans. City).do____Weighted avg., 6 markets, all grades do

Wheat flour:Production:

Flour thous. sacks (100 lb.)_OfTal thous. sh. tons

Qrindings of wheat _ _ - _ _ thous. buStocks held by mills, end of period

thous. sacks (1001b.)__Exports _ d o _ L _ _Prices, wholesale:

Spring, standard patent (Minneapolis')$per!001b_.

Winter, hard, 95% patent (Kans. City). .do

LIVESTOCK

Cattle and calves:Slaughter (federally inspected):

Calves thous animalsCattle do

Prices, wholesale:Beef steers (Omaha) -$per!001b.Steers, stocker and feeder (Kansas Ci ty )__do___ .Calves, vealers (Natl. Stockyards, 111.) do

Hogs:Slaughter (federally inspected).. -thous. animals__Prices: >

Wholesale, average, all grades (Sioux City)$ per 100 lb._

Hog-corn price ratio (bu. of corn equal in valueto 100 Ib. live hog) _ • _

Sheep and lambs:Slaughter (federally inspected)., thous. animals-Price, wholesale, lambs, average (Omaha)

$perl001b._

MEATS AND LARD

Total meats:Production (carcass weight, leaf lard in), inspected

slaughter. _ _ _ _ __ ...mil. lb_.Stocks (excluding lard), cold storage, end of

period _ _ _ _ mil. IbExports (meat and meat preparations) _ _ _ _ do_ _Imports (meat and meat preparations) d o _ _ _ _

Beef and veal:Production inspected slaughter doStocks, cold storage, end of period do _Exports.. __do _ _Imports doPrice, wholesale, beef, fresh, steer carcasses, choice

(600-700 Ibs.) (New York) $perlb._

Lamb and mutton:Production, inspected slaughter mil. lb__Stocks, cold storage, end of period do

Pork (including lard), production, inspectedslaughter mil Ib

Pork (excluding lard) :Production, inspected slaughter doStocks, cold storage, end of period __ __ doExports doImports _ doPrices, wholesale:

Hams, smoked composite $perlb__Fresh loins, 8-14 Ib. average (New York) __do

Lard:Production, inspected slaughter _mil. lb__Stocks, dry and cold storage, end of period.. doExports doPrice, wholesale, refined (Chicago) $ per Ib

POULTRY AND EGGSPoultry:

Slaughter (commercial production) mil. lb_.Stocks, cold storage (frozen), end of period, total

mil. lb._Turkeys do

Price, in Georgia producing area, live broilers$ per lb_.

689.1638.7

1.911.541.79

253, 0944,409

563, 714

4,32921, 596

6. 1795.569

3,02430, 793

29.0230.1538.17

78,187

21.86

18.1

10,009

27.43

34,574

759518

1,844

19,48934732

1,319

.490

51419

14, 570

12, 11433667

347

4.542.569

1,77682

366.160

10, 242

391219

.123

627.1688. 3

1.771.61

21.72

249, 8104,279

555, 092

4,36216, 637

6.1455.446

2,80731,419

32.0332.0938.58

86, 667

18.41

14.5

10, 256

27.43

36,207

7961547

i 1, 789

19, 69637544

1 1, 265

.547

52219

15, 993

113,440330

72357

.534

.498

i 1, 842100282

.147

10,357

378223

.128

41.538.3

1.641.561.82

22,164378

49, 403

1,374

6.0635.313

2202,720

32.7732.4135.00

6,922

18.14

15.5

812

27.75

2,966

77251

166

1,667341

3127

.561

3919

1,260

1,065330

730

.536

.515

14282

• 16.158

1,020

462308

.135

62.159.4

1.641.651.63

22,137378

49,301

4,8611,178

5.9755,275

2392,788

32.2131.7238.00

7,379

18.28

16.1

919

27. 50

3,116

77548

223

1,720359

3173

.549

4521

1,350

1,132307

731

.501

.498

1587720

.153

1,003

547389

.130

34.031.7

1.721.581.69

21, 702368

48, 166

982

6.0005.325

2312,667

32.1134.0738.00

7,190

19.19

19.5

919

25.88

3,026

76839

110

1,662355

388

.536

4620

1,319

1,125310

714

.542

.526

1408312

1,009

636475

.115

41.639.5

1.711.601.68

20,090338

44,492

908

6.0135.338

2332,564

33.3034.2338.00

7,566

18.59

19.3

818

24.75

3,072

75643

102

1,612335

570

.559

4219

1,418

1,1983251325

.567

.494

1598238

.149

935

467309

.110

47.745.2

1.701.601.68

20, 961351

46,265

4,3621,060

6.0005.350

2382,528

33.9235.1141.00

7,547

19.94

18.2

846

25.75

3,062

79669

188

1,606375

4143

.579

4419

1,412

1,199330

1038

.639

.501

153100

4.143

870

378223

.105

39.536.5

1.721.621.70

20, 704356

45, 942

1,318

6. 0005.338

2262,556

35.3536.6141.00

6,395

24.02

20.8

847

27.88

2,860

77440

161

1,634363

3103

3.593

4517

1,181

1,008308

349

.604

.607

1237819

.144

825

359211

.120

49.045.6

1.631.611.66

19, 994342

44,464

1,472

5.9885.338

2172,457

35.7436.9244.00

6,280

25.10

23.6

801

28.38

2,747

7083794

1,562316

395

.598

4313

1,143

995287

435

.584

.638

1056618

.144

758

322180

.135

52.549.8

1.631.611.67

21,058361

46, 882

4,5421,169

5.9135.313

2552,698

34.7336.9546.00

7,794

23.19

21.2

903

29.38

3,190

74244

138

1,706297

489

.570

4912

1,434

1,227331

439

.644

.570

1496415

.144

826

266146

.135

49.147.3

1.661.63

21.69

19,654338

43,772

757

5.9135.338

1852,471

34.2036.9346.90

6,733

22. 62

19.9

786

31.00

2,850

81845

159

1,566291

5106

.557

4216

1,242

1,0603951034

.617

. 548

132818

.144

759

237121

.120

65.059.6

1.691.641.71

21,083359

46,897

2,300

5.9255.338

1792, 807

35.2937.7246.50

6,787

24.76

21.7

803

33. 75

3,096

79964

162

1,783284

5111

.585

4220

1,270

1,079381

1928

.588

.614

1399012

.144

893

216111

.125

72.566.7

1.611.531.66

21,133363

47,174

4,3792,494

5.9255.338

1662,833

37. 4838.3747.00

6,312

25.71

22.5

808

34.00

2,996

71058

152

1,762262

4115

.612

4020

1,193

1,012319

14«25

.604

.694

1318313

. 144

975

249142

.135

62.158.8

1.691.611.69

'19,811'343

'44, 155

1,381

6.0255.463

1642,488

37.6538. 8147.00

5,273

27.24

24.1

735

32.88

2,577

63348

166

1,561267

4119

.610

3621

980

839254

632

.605

.699

1026413

.144

935

322214

.150

73.871.7

1.911.861.88

21,399370

47, 656

930

6.5256.163

2082,923

35.1838.2048.10

6,510

27.87

24.3

840

31.25

3,080

••59649

216

1, 847'291

4168

.568

4221

1,192

1,023«• 204

529

.581

.654

121545

.147

1,055

'421'313

.140

2.032.102.05

6.8886.363

34.6941.2949.00

28.41

23.0

30.00

591

307

.553

18

191

.594

.668

.149

521410

.145

r Revised.1 Annual total reflects revisions not distributed to the months.2 Effective May 1971, data are for 5 markets; beginning April 1972, for 4 markets.

s Beginning Jan. 1972, price for East Coast (New York and Philadelphia average).4 Average for Mar.-Dec.




1970 1971

Annual

1971


1972



POULTRY AND EGGS-Continued

Eggs:Production on farms mil. cases OStocks , cold storage, end of period:

Shell. thous. casesO..Frozen. . _ mil. Ib

Price, wholesale, large (delivered; Chicago)$ per doz.-

MISCELLANEOUS FOOD PRODUCTS

Cocoa (cacao) beans:Imports (incl. shells) thous Ig tonsPrice, wholesale, Accra (New York) $ per lb._

Coffee (green):Inventories (roasters', importers', dealers'), end

of period. _ _ thous. bagsd"Boastings (green weight) do

Imports, total doFrom Brazil do

Price, wholesale, Santos, No. 4 (N.Y.)__$ per lb__Confectionery, manufacturers' sales mil. $

Fish:Stocks, cold storage, end of period mil Ib

Sugar (United States):Deliveries and supply (raw basis) :§

Production and receipts:Production thous sh tonsEntries from off-shore total 9 do

Hawaii and Puerto Rico do

Deliveries, total 9 doFor domestic consumption do

Stocks, raw and ref , end of period do

Exports, raw and refined ... sh. tons

Imports:Raw sugar, total 9 thous sh tons

From the Philippines doRefined sugar, total _ ~ _ do

Prices (New York):Raw, wholesale . $perlb_.Refined-

Retail (incl. N.E. New Jersey).... $ per 5 IbWholesale (excl. excise tax) -_ ,__ . . .__„$ per lb._

Tea, Imports thous. Ib

FATS, OILS, AND RELATED PRODUCTS

Baking or frying fats (Incl. shortening):Production mil IbStocks, end of period© do

Salad or cooking oils:Production. _ doStocks, end of period© do

Margarine:Production . doStocks, end of period© doPrice, wholesale (colored; mfr. to wholesaler or

large retailer; delivered) $ per lb._Animal and fish fats:A

Tallow, edible:Production (quantities rendered) mil. IbConsumption in end products... __do _ .Stocks, end of period i_ __ _ _ do__

Tallow and grease (except wool), inedible:Production (quantities rendered) doConsumption in end products ~doStocks, end of period f do

Fish and marine mammal oils:Production _ doConsumption in end products doStocks, end of period f. do

Vegetable oils and related products:Coconut oil:

Production: Crude mil. IbRefined do

Consumption in end products doStocks, crude and ref., end of period f _ . doImports _ do

Corn oil:Production: Crude do

Refined doConsumption in end products doStocks, crude and ref.. end of DeriodlF _ __do

195.1

5150

.425

279.2.341

2,59319, 960

19 7274,712.557

1,910

306

4,7126 6751 497

11, 45911, 3102 792

7,892

5 2171 522

35

.081

.674

.112

135, 202

3 587 6' 132. 9

3,389.175 6

2,230.545 6

.289

558. 2569. 746.7

4, 876. 82 553. 5

396.1

206.969.6

103.5

3 247. 1544.0750.2202.8584.2

474.0440.9449.643.3

199.3

6074

.332

315. 8.268

4,00019 607

i 21 6695 9912.4612 002

302

4 5886 6011 230

11 44411 2912 683

481

5 2621 1 544

48

.085

.695

.117

175, 432

3 515 0127 6

3 ,500. 076 1

2 ,290. 057 1

.308

541.6598.641.3

4, 967. 72 622 7

379.7

257.0r57. 1134. 9

(<*)553.3740.4191.1628.6

485.1440.3446.357.0

16.4

14181

.345

23.2.286

2 720971

.433160

305

10777580

1, 1211,1071 629

84

559179

2

.086

.701

.118

25, 141

305 6120. 7

309.979.0

173.365 5

.312

40.850.157.6

403. 1222.2424.5

58.54.5

155.1

(d)36.253.4

153.130.2

40.133.735.9

'66.8

15.9

13484

.329

24.6.271

5,1984,481

2 754993

.433215

338

17060150

1,1231,1091 450

80

675178

6

.086

.703

.118

19, 427

309.4118. 1

300.266.5

194,763.6

.310

47.651.063.1

438.3236.9409.7

30.45.4

138. 9

(d)47.960.8

143.979.3

42.0,42.238.458.3

16.6

13582

.324

13 8.250

621155

.433204

333

65928095

947935

1 582

59

327112

4

.085

.704

.118

4,631

301 4122 0

276.677.2

188. 264 3

.310

42.153.538.8

409. 9208.7401.2

16.84.1

156.7

(d)56.063.1

154. 267.8

42.433.935.265.0

16.5

9480

.335

10 9.241

875144

.440195

314

1 073333122

903888

2 134

4

281141

1

.086

.704

.118

3,828

306 5118 8

265.474 5

210.160 7

.310

43.553. 536.7

406. 4207.0397.4

6.04.5

147.2

(d)46.862.3

166. 928.2

40.735.740.769.7

17.2

6074

.370

50 3.234

4,0005 299

1 818647

157

302

929441132

1 001990

2 683

55

46424210

.088

.707

.118

11, 862

290.1127.6

308.376.1

219. 457.1

.312

45.247.741.3

438.5219.8379.7

1.64.4

134.9?

(d)39.259.2

191.116.1

33.440.044.857.0

17.3

5271

.300

39 8.259

2 5601 009

167

274

6871 285

41

823812

3 008

31

498543

.092

.704

.118

12, 914

279 4124.9

314. 285 9

207.668 9

.312

42.246.941.6

397.2221.7411.8

1.43.4

96.7

(d)45.057.4

191.522.0

38.735.937.959.0

16 2

4970

.288

39 3.256

2 172877

168

245

39511334

727715

3 059

137

436533

.090

.707

.122

16, 907

289 1122 2

301.080 2

194.771 4

.315

40.358.538.0

376.0229 5392.7

3.84 66.0

(d)44.063.0

174.5144.6

38.740.840.055.4

17 5

8070

.328

27 6.285

4 2545 316

1 137212

163

224

224462153

1 0581 0492 898

50

40813511

.092

709.122

10 276

301 2130 0

348 792 3

201 769 1

.313

46.254.738 7

432 1242 8379 3

3 555 8

(<*)56 866 4

187 167=9

43 536.738.759.1

16 7

9673

.295

28 8.285

1 146286

.463133

212

147612

92

811802

2 874

63

302586

.090

.711

.124

10, 165

278 1136 0

321. 3145 8

181.382 6

.313

41.453.036.4

390. 3227.7366. 6

3.054.2

(d)51.269.7

162.927.3

40.034.632.372.1

16.9

15481

.280

24.4.304

1 784437

.480137

240

147740131

978968

2,672

27

308245

.088

.709

.124

12, 885

291.4130.6

369.9106.1

186. 383 9

.313

43.551.843.7

409.2241.5350.5

3.153.5

0055.073.0

174. 670.4

46.136.435.481.4

16.1

21785

294

25.6.315

3 ,4995,021

1,452443

.485«• 134

251

90574187

1,0961,0882 343

46

627160

2

.088

.692

.124

16, 563

290 5137 7

355{099 g

186.167 1

.313

44.750.744.1

414.2251 6355.4

2 953.2

(<*)53 976 5

179.358.2

45 743.641.281.1

16.4

23488

.330

17.5.320

1,434333

109

'290

121488122

1,001992

r 2, 032

38

411544

' * 091

.692

.124

10,835

'258 5' 120. 8

' 307. 1r89 9

r 164. 268 4

.313

••40. 246.0

••43.1r 360. 4r 201 0r 339. 1

4 352.8

(d)

41 1' 65 3

' 169 453.1

'43 334 036.6

r74.6

16.2

'201'88

.327

13.4.341

1,947383

.625

z>341

61790

v I 592

55

579217

1

.094

695.124

11, 581

314 9114 2

343 688 1

195 771 5

.313

48. 557.838.9

410. 7241 5327.1

4 551.7

(d)48 274 9

130.147.0

43 836.241.566.8

15.5

25983

.373

.360

.590

.094

.124

.313

/Revised. P Preliminary. d Data withheld to avoid disclosure of operations of in-dividual firms. ^ Reflects revisions not available by months. 2 Average for Jan.-Nov.

3 Monthly data not available. * Effective Feb. 1972, data exclude fish oil stock.

O Cases of 30 dozen. cfBags of 132.276 Ib. §Monthly data reflect cumulative revisionsfor prior periods. 9 Includes data not shown separately: see also note " §". AFor dataon lard, see p. S-28. ©Producers' and warehouse stocks. fFactory and warehousestocks.


S-30 SURVEY OF CURKENT BUSINESS October 1972


1970 | 1971

Annual

1971


1972



PATS, OILS, AND RELATEDPRODUCTS- Continued

Vegetable oils and related products— ContinuedCottonseed cake and meal:

Production thous sh tonsStocks (at oil mills) end of period do

Cottonseed oil:Production* Crude mil Ib

Refined doConsumption in end products doStocks, crude and refined (factory and ware-

house) end of period mil Ib

Price, wholesale (N.Y.). . "__$perlb-_

Linseed oil:

Consumption in end products doStocks, crude and refined (factory and ware-

house) end of period mil IbPrice wholesale (IVlinneapolis) $ per Ib

Soybean cake and meal:Production _ _ thous. sh. tonsStocks (at oil mills) end of period do

Soybean oil:Production* Crude mil Ib

Refined doConsumption in end products doStocks, crude and refined (factory and ware-

house) end of period mil IbExports (crude and refined) doPrice, wholesale (refined; N.Y.)___ — — $ per lb__

TOBACCOLear-

Production (crop estimate) _ _ - - _ . __mil. IbStocks, dealers' and manufacturers' end of period

mil. IbExports, incl scrap and stems thous Ib

Manufactured:Consumption (withdrawals):

Cigarettes (small):Tax-exempt millionsTaxable do

Cigars (large), taxable _ _ doExports, cigarettes .. do

1, 726. 385 8

1,211.51 019 2

931 9

184.3369 8.175

314 5191 4

148 5110

17,379.5112.2

8, 085. 96, 276. 36,322.3

755. 61, 372. 4' . 142

1 1, 908

5,006510 325235 428

51 166532, 764

6, 70529, 147

1 720 693 1

1 209 4985 7728 5

188 32 400 7

.190

412 2213 6

224 8089

17,104.2119 8

8 081 56 298 06 322 9

802 221,611 7

.151

i 1,707

4,8282474 2092 248 529

49 200528 858

6,50331,802

66.4101 9

47.051 257 8

142.914 3.206

34 719.4

177 1088

1, 473. 8189.7

692 2532.8537.3

819 278.1.172

41 79115 686

6 85245 595

5524,234

50 381 9

34 344 850 8

93 826 2.201

35 418 0

179 9088

1,265.1121 4

597 5568 6554 0

772 6122 2.155

4,47476 84149 965

7 25145 765

5585,753

161.287 8

111.860 952 9

130 03 1

.182

36 517.6

203 7088

1 362.0177 9

645 2534 5522 0

725 Q143 0.154

3 5091Q f{K\

2 19847 049

595768

208 999 5

149 0102 957 4

159 536 3.177

32 315 3

210 8088

1 366 5167 2

644 2504 2522 2

808 643 5.157

2 375Ifi 9fi'i»

2 68846 061

'6161 246

219.893 1

154.0113 360 5

188.358 5.174

33 316.0

224 8088

1,471.3119.8

690. 6534.1554.8

802.2153.8.139

4,82859 62214 829

2 93939 634

4182 048

212 7103 6

151 1104 053 2

239 423 1.168

38 217 3

236 7088

1, 463. 3131. 3

689 9525 5549 5

782 8157 8. 135

95 44719 363

4 75543' 295

4522,568

191 1107 7

134 990 849 7

277 347 4.168

36 517 6

245 3088

1 387.3115 6

658 9523 4527 6

847 171 3.139

86 99022 128

4 36545' 633

4593,642

216 5126 9

154 4118 266 7

295 050 4.168

44 819 0

263 5088

1,471.9136 8

706 4559 1582 6

881 259 3

, .141

4,53128 58122 549

3 73249 913

5402 577

155. 9145 8

110. 298.348.9

294.847 8.168

36 119.7

280. 9088

1, 346. 5198.9

646. 7534.4545.4

952.769 3.143

17 84917 510

2 74542 581

'4571,959

132.4159.4

97.798.263.5

266.030 6.168

33 222.5

275.3088

1,439.8162.6

698. 8556.6580.6

945.089.0. 138

42 66521 908

3 82648 376

5922,246

101.8137.5

75.888.863.2

239. 749.7.168

39 024.3

276.6095

1,308.8158.1

635.4534.4565.8

829. 7263.3.136

4,18633, 34818 281

4 60849, 127

4732,770

"76.6' 102. 6

••54.4••61.3••55.5

•• 203. 933.5.168

33 2••21.' 9

••263.8.095

1,338.9•• 205. 9

•• 648. 6479.1

r 497. 1f 854. 1

94.1.126

39 ,16417 112

3, 17038, 468

4422,886

87.368.4

61.774.672.0

134.058.3.150

40 423.3

253.0

1, 377. 9178.9

658.1550.6571.8

841.957.5.128

40, 45523 934

2,923

.147

.095

.125

s 1, 727

LEATHER AND PRODUCTS

HIDES AND SKINSExports:

Value, total 9 . _ _ _ _ thous $Calf and kip skins thous skinsCattle hides thous hides

Imports:Value, total? thous $

Sheep and lamb skins thous piecesGoat and kid skins ~ do

Prices, wholesale, f.o.b. shipping point:Calfskins, packer, heavy, 9H/15 Ib $ per lb__Hides, steer, heavy, native, over 53 Ib do__..

LEATHERProduction:

Calf and whole kip _ _ thous. skinsCattle hide and side kip thous hides and kipsGoat and kid ._ thous. skinsSheep and lamb. . _ do

Exports:Upper and lining leather thous . sq . ft

Prices, wholesale, f.o.b. tannery:Sole, bends, light -_ index, 1967=100Upper, chrome calf, B and C grades

index, 1967=100..

LEATHER MANUFACTURESShoes and slippers:

Production, total- -thous pairsShoes, sandals, and play shoes, except athletic

thous. pairs _Slippers doAthletic.. ._ doOther footwear _ do

Exports _ do

Prices, wholesale, f.o.b. factory:Men's and boys' oxfords, dress, elk or side

upper, Goodyear welt index, 1967=100..Women's oxfords, elk side upper, Goodyear

welt.. .— index, 1967=100..Women's pumps, low-medium quality do

145, 2001 316

15 222

51 30018 7013 028

.331

.129

2 71720 3533 979

23, 598

79, 365

114 0

84.3

562 318

451,81696, 1818 9555 366

2,154

113.3

116. 2117 1

155, 8212 222

15 962

52 10019 2831 956

.294

.145

1,62120 4773,148

21, 385

82, 944

114 4

81.8

r 535, 777

••425,875r 98, 147

rS 440r3 315

2, 106

117.5

120.1121 2

11 583198

1 166

4 3001 151' 81

.300.148

1231 650

2601 900

6 540

114 1

87.7

r46 307

'35, 637••9 851

r 641r178

163

118.3

120.2121 2

12, 517127

1 338

4 000920134

.280

.155

1421 726

3161 833

6,830

114 1

77.2

••45 675

••34, 536••10,158

r 769r212

226

118.3

120.2121 2

15 158123

1 565

1 800*531136

. 280

.153

1421 776

3471 781

4 810

114 1

77.2

r45 094r34, 638r 9 531

r 71gr 207

163

118.3

120.2121 2

16 198'l!7

1 696

80019619

.280

.168

1631 780

3351 827

5 976

114 1

77.2

r40 701

••31, 904r 7, 893

r 697r 207

156

118.3

120.2121 2

17 201220

1 656

3 900T314

342

.320

.163

1501 677'344

1 790

9 198

119 5

79.6

r42 913

r35, 721r 6 334

r 696r 162

167

118. 3

120.2121 2

13 489193

1 272

4 1001 021

289

.330

.178

1171 635

2851 502

7 727

121 8

86.8

44 525

36, 7666,939

680140

161

120.1

120.2121.2

12 917' 128

1 153

5 8002 160

314

.450

.190

1261 740' 216

1 773

8 379

124 1

86.8

44310

36,2067,230

722152

151

121. 3

121.5121 2

19 226124

1 686

6 6002 119

285

.450

.233

1421 833

2451 741

9 816

136 4

100. 1

48 706

38,2088,469

853176

203

122.6

121.5124.3

15 866226

1 210

5 8002*139

275

.575

.255

1471 784

2421,708

9,485

152 5

104.6

44 142

35, 9827,292

726142

148

125.5

124.1127 4

19 078158

1 437

7 5002 641

356

.575

.280

1731 881

3401 876

11 487

152 5

106.4

45 169

35,6318 656

723159

142

128.3

125.3130 4

19, 256126

1 317

5 9001 245

415

.560

.293

1531 810

4191,867

10 360

152 5

106.4

r46 224

••36,823r 8 463

r 736r 202

195

130.1

125.3130 4

32,641117

2,152

5 8001 627

198

.560.293

971 211

2191,374

8 406

152 5

109.0

36 385

30, 2535 606

413113

161

131.4

127.9130 4

23, 993180

1,324

5, 7001,393

268

.650

.340

10 935

111.7

222

131.4

127.9130 4

.650

.335

115.3

131.4

127.9

r Revised. 1 Crop estimate for the year.2 Annual total reflects revisions not distributed to the monthly data.

3 Oct. 1 estimate of 1972 crop.9 Includes data for items not shown separately.




1970 j 1971

Annual

1971


1972


LUMBER AND PRODUCTS

LUMBER— ALL TYPES 9

National Forest Products Association:Production, total.. __.. mil. bd. ft_

Hardwoods doSoftwoods do

Shipments, total ___do__ ._Hardwoods doSoftwoods . - do

Stocks (gross) , mill, end of period, total- doHardwoods _ doSoftwoods do

Exports total sawmill products doImports, total sawmill products do

SOFTWOODS

Douglas fir:Orders, new _ . mil. bd. ft.Orders, unfilled, end of period -do

Production _ _ __ _ do _Shipments __ doStocks (gross) , mill, end of period _ _ _ do

Exports, total sawmill products doSawed timber doB oar ds , planks , scan tlings , etc . do

Prices, wholesale:Dimension, construction, dried, 2" x 4", R. L.

$ per M bd. f t __Flooring,fC and better, F. G., 1" x 4", R. L.

$ per M bd ft

Southern pine:Orders, new _ __ mil. bd. ftOrders, unfilled, end of period do

Production. , do _Shipments doStocks (gross), mill and concentration yards, end

of period mil bd ft

Exports total sawmill products M bd ft

Prices, wholesale, (indexes):Boards, No. 2 and better, 1" x 6", R. L.

1967= 100. _Flooring, B and better, F. Q .1" x 4", S. L.

1967=100__

Western pine:

Orders unfilled end of period do

Production doShipments do

Stocks (gross) mill pnd of period doPrice, wholesale, Ponderosa, boards, No. 3, 1" x

12", R. L. (6' and over) $ per M bd. ft

HARDWOOD FLOORING

Oak:Orders, new mil bd ftOrders unfilled end of period do

Production doShipments doStocks (gross) mill end of period do

34, 4627, 023

27, 439

33, 4906,195

27, 295

6, 3261,4784,848

1 2666,095

7,398467

7,4757,4271 058

38087

292

92. 22

226 76

7, 316373

7,2957 267

1 376

78 418

107. 9

122.9

9 04.1334

9 3789* 371

1 634

83.79

304 49 1

315.2306 733 3

36, 6176,334

30,283

37,6776,828

30, 849

6,266984

4,282

1 0817, 599

8,471666

8 2478,362

943

32988

240

i 117. 68

i 227 78

8 640421

8,4328 592

1 216

64 923

133.7

132.8

10 458qco

10 17510 430

1 382

96.44

323 38 1

306.6320 922 0

3,220502

2,718

3,345583

2, 762

5 5941 1454,449

85624

685715

769757

1 045

176

12

129.92

232 02

724440

721747

1 205

5 140

143.2

136.0

872368

914941

1 437

106.24

27 010 0

28.331.325 1

3,242532

2,710

3,294583

2,711

5,5321,0844,448

72797

735735

715715

1 045

1238

128.88

232 02

690405

715725

1 195

6,973

143.2

136.0

971365

974974

1,437

109. 10

26.98 4

27.327.824 6

3,199674

2 625

3,336607

2,729

5 3971,0534,344

88516

696704

657727975

214

17

128. 59

231 87

744385

756764

1 187

1 760

143.2

136.0

906374

887897

1 427

106. 57

27 88 7

25.227 123 2

3,028636

2,492

3,067554

2,513

5,3581,0354,323

131582

775740

713739949

582137

127.45

226 28

693406

694672

1,209

1 338

143. 0

136.0

786341

806819

1 414

105.14

24.07.4

22.724.421 4

2,924481

2,443

3,015531

2,484

5,266984

4,282

95679

668566

696702943

213

19

130.23

225 35

696421

688681

1 216

7 050

143.4

136.0

847362

794826

1 382

108. 28

24 78 1

23 423 822 o

2,832450

2,382

2,942542

2,400

5, 155891

4,264

92757

819722

685663965

258

17

134. 97

(2)

819519

691721

1 186

4 058

144. 2

136.9

778433

705707

1 380

113. 20

24 910 1

21.822 521 3

3,076467

2 609

3 186610

2 576

5 040*743

4 297

101703

657644

764735994

133

10

135.33

740525

730734

1 182

5 883

146.0

138.1

7894fl7

820808

1 392

117. 69

23 711 4

20 522 618 8

3,383506

2,877

3,566583

2,983

4 857666

4,191

152768

915689

826870950

491534

135. 70

808517

782816

1 148

4 521

149.1

138.7

968424

940951

1 381

121. 77

26 813 7

21.524.216 1

3,272562

2,710

3,422622

2, 800

4,704603

4,101

120745

763700

731752929

361026

137.42

793515

770795

1, 123

7,366

153.4

141.8

919436

882907

1 356

127. 01

22 815 2

19.420.714 7

3,420555

2,865

3,628606

3,022

3,944553

3, 944

126889

777563

810914825

441430

141. 64

767494

776788

1,111

5, 285

154.5

141. 8

956412

953980

1,329

130. 52

26 916 6

21.623.713 1

3,301550

2 752

3,429567

2 862

4,368535

3,834

127761

844645

722762785

409

31

143.55

821499

803816

1,098

3, 912

155. 5

140.7

964426

910950

1,289

134.59

24.515 8

22.325.411 1

3,102542

2,561

3,236588

2,648

4 236489

3,747

170888

735622

738758765

306

24

149.32

788510

744777

1,065

4 760

156.2

140.7

874465

818835

1, 272

135. 18

18.515.8

17.118.59 7

132690

35

149. 72

5,044

158.5

140.7

139. 34

1224

150. 30

159.6

141.5

138. 78

METALS AND MANUFACTURES

IRON AND STEELExports:

Steel mill products thous sh tonsScrap doPig iron do

Imports:Steel mill products __ doScrap doPig iron _ _ __ do

Iron and Steel Scrap

Production _ thous. sh. tonsReceipts, net doConsumption __ doStocks, end of period do

Prices, steel scrap, No. 1 heavy melting:Composite (5 markets) $ per Ig. ton--

Pittsburgh district. _ _ _ ._ do-___

7 06210 365

*310

13 364'346266

4 52 5754 34 1434 85 559

7 668

40.7242.00

2 8276 256

34

18 304325320

4 49 igg4 33 9874 82 5674 3 494

33.1936.80

164552

4

1 5543339

2,5562,1164,5837 863

29.9036.00

286794

3

1 7803754

3 2012 4195 6247 898

31.7836.00

172373

1

1 4372818

3,4982,8215,9668 260

31.5335.00

248284

(&>

1 4722724

3 4202 4905 8228 357

29.7034.00

OQ7

4943

1 3363135

3 5572*3916 0238 298

28. 9333.00

208332

1

1 093297

3 7952 9266*9503' 251

31.0336.00

221519

2

1 1293154

3 9492 9386, 9138 219

32.8438.00

261588

1

1 095305

4 3833 6377,9678 310

33.6636.00

199469

(3)

9302634

4,4803,4157,9428 293

32.7435.50

245614

1

1,6034862

4 5453,4778,0628 230

33.6837.00

211653(3)

1,5992771

4,3423,3017,5098, 373

33.3636. 00

220760

2

1,5313478

*>4,043»2,794v 6, 705v 8, 505

34.2438.50

301595

(3)

1,7872443

35.6840. 50

35.7640.50

* Revised. * Preliminary. 1 Beginning Jan. 1971, data reflect changes in size specifica-tions, and are not comparable with those for earlier periods. 2 Series discontinued.

3 Less than 500 tons. 4 Annual data: monthly revisions are not available,include data for types of lumber not shown separately.

9 Totals


S-32 SUEVEY OF CUKRENT BUSINESS October 1972


1970 | 1971

Annual

1971


1972


METALS AND MANUFACTURES—Continued

IRON AND STEEL— Continued

Ore

Iron ore (operations in all U.S. districts):Mine production. _.thous. Ig. tons..Shipments from mines doImports _ _ _ __ _ _ do

U.S. and foreign ores and ore agglomerates:Receipts at iron and steel plants.. doConsumption at iron and steel plants doExports _ _ do

Stocks, total, end of period doAt mines _ _ doAt furnace yards doAt U.S. docks do

Manganese (inn. content), general imports do

Pig Iron and Iron Products

Pig Iron:Production (excluding production of ferroalloys)

thous. sh. tons_-Consumption doStocks, end of period do

Prices:Composite __$ per Ig. ton._Basic (furnace)—. doFoundry, No. 2, Northern . do

Castings, gray iron:Orders, unfilled, for sale, end of period

thous. sh. tonsShipments, total _ do

Forsale.... _ __ __ _ doCastings, malleable iron:

Orders, unfilled, for sale, end of periodthous. sh.tons

Shipments, total doForsale _ do

Steel Raw and Semifinished

Steel (raw):Production thous. sh. tons..

Index _ _ daily average 1967— 100Steel castings:

Orders, unfilled, for sale, end of periodthous. sh. tons

Shipments, total doFor sale, total _ do

Steel Mill Products

Steel products, net shipments:Total (all grades) thous. sh. tons..By product:

Semifinished products doStructural shapes (heavy), steel piling doPlates doRails and accessories do

Bars and tool steel, total doBars: Hot rolled (incl. light shapes), .do

Reinforcing doCold finished do

Pipe and tubing... doWire and wire products- _. doTin mill products doSheets and strip (incl. electrical), total do

Sheets: Hot rolled doCold rolled do

By market (quarterly shipments) :Service centers and distributors doConstruction, incl. maintenance doContractors' products.. doAutomotive.. . do

Rail transportation doMachinery, industrial equip., tools doContainers, packaging, ship, materials doOther . do

Steel mill products, inventories, end of period:Consumers' (manufacturers only). .mil. sh. tons.

Receipts during period doConsumption during period do____

Service centers (warehouses) doProducing mills:

In process (ingots, semifinished, etc.). doFinished (sheets, plates, bars, pipe, etc.) do

Steel (carbon), finished, composite price.. .$ per lb_.r Revised. » Preliminary. 1 Annual data; ir

available. 2 For month shown.

89,76088,01144, 876

125, 107123, 261

5,4941 71,500i 15,316

52, 7813,403

990

91, 435190, 797

2,082

69.3369.2670.33

88813, 9458,173

78852521

1131,514103.4

3211,7241,416

i 90, 798

7,3876,0608, 0651,590

14, 5778,1074,8911,4907,7782,9987,243

35, 10112, 31914, 250

117, 678110, 56514,440

114,475

i 3, 098i 5, 16917,775

127,598

9.467.167.5

7.2

12.810.5

. 1014

lonthly o

i 80, 762i 77, 692

40, 124

114, 051108, 966

3,061

78, 71417, 55257, 7383,424

1,019

81, 299i 81, 178i 1, 779

76.0375.8377.00

83513, 8407,428

88882505

1 120, 44394.7

2811,58715 290

i 87, 038

4,9625,6667,9391, 564

14, 1568,1794,5211,3787,5742,7916,811

35, 57411,76014, 898

116,18419,54114,946

i 17, 483

3,0044,9037,212

123,765

10.067.667.0

7.5

10.79.0

.1089

r quarterl

6,7378,2643,969

11,1535,041

187

71, 74818, 60551, 0912,052

119

3,7013,3391,940

77.7078.3379.50

770985598

837242

5,77453.4

29911291

3,703

14419026765

703310307

79492138229

1,475471545

14.63.85.1

8.0

10.47.8

.1123

y revisic

8,3259,0012,920

11, 6956,902

203

76, 20517, 94555, 8842,376

99

5, 1485,1461,886

77.7078.3379.50

7451,111

600

827446

7,67873.4

293132109

4,522

35431339589

81035433682

428170328

1,634562569

3,4802,1171,0352,637

556873

1,6385,051

13.14.15.6

7.5

10.88.6

.1129

ms are i

6,3097,9693, 166

10,1447,388

281

77, 98316, 39858, 6402,945

40

5,5325,4731,829

77.7078.3379.50

7791,174

640

807946

8,21176.0

278129103

5, 183

37135145095

88847131991

440202361

2, 026744728

11.63.95.4

7.2

11.19.0

.1129

lot

5,5075,9893,220

8,3557,130

119

79, 13015, 94259, 8653,323

41

5,3505,3841,801

77. 7078.3379.50

8061,098

595

847240

8,05377.0

26111492

5,791

387352430100

90350529695

470198576

2,375825945

5,3603,8912,161

5,8798,006

163

78, 71417, 55257, 7383,424

102

5,9305, 9011,777

77.7078.3379.50

8351,014

548

887042

8,78481.3

281129104

6, 104

385384492135

94055228795

489195476

2,609920

1,034

3.392| 1 . 710

10.64.35.3

7.2

10.99.0

.1129

9522,940

567885

1,4275,205

10.04.34.9

7.5

10.79.0

. 1134

4,5852,0371,317

3,4798,668

20

75, 82220, 13052, 5503,142

104

6,6176,5841,783

77.7078.3379.50

8091,174

568

797742

10,00192.6

30012199

6,588

323347538131

1,091642272170450202410

3,096978

1,454

10.05.35.3

7.1

11.39.2

.1171

4,5861,6491,701

3,1909,001

14

72, 72323,15646, 7302,837

92

6, 5986,3791,742

77.7078.3379.50

8441,179

583

878045

9,98098.7

304132109

6,649

322378547140

1,113689294123526214462

2,9461,0301,188

9.55.15.6

6.9

11.29.6

.1180

5,0511,7491,732

4,18810, 505

149

68,71926, 48140, 412

1,826

87

7,7087,5991,732

77.7078.3379.50

9141,297

662

868649

11,588107.3

317149123

7,927

417491641158

1,393850387148709257533

3.3271,1611,324

4,0222, 0621,1014,481

7301,2021,5336,031

9.15.76.1

7.1

11.29.7

.1191

5,9332,9721,775

5,06910, 482

56

65, 55429, 41434, 9991,141

65

7,7267,6291,666

77.7078.3379.50

9251,299

696

818145

11,588110.8

298132106

7,622

387462618153

1,296770381138652254521

3,2801,1421,331

9.05.85.9

7.3

11.510.0

.1191

7,6779,3023,357

12, 06910,802

94

65, 13827, 79036,2471, 101

52

8,0127,9651,676

81.7080.8883.25

'943> 1, 358

'731

768249

11,937110.5

' 267'137••111

8,121

412479645155

1,405826423148699261600

3,4631,1831,437

8.96.06.1

7.1

11.910.1

. 1191

7,4489,2404,191

12, 6769,901

239

66, 29825,95239, 0221,324

72

7,4277,3741,688

81.7080.8883.25

9511,328

733

788251

10,980105.0

294153127

7,971

430456615137

1,345791399147671289642

3,3871,1661,361

4,8072,4331,2984,641

6821,3771,8766,589

8.95.85.8

'7.0

11.810.0

.1191

7.1019,4423,336

12, 2059,785

289

66, 69723, 64541, 4241,628

78

7,321*7,167'1,799

81.7080.88

10,34195.7

6,875

357451541106

1,132654352120582210526

2,9711,0951,142

2 1, 49527612420

2 1, 257

215323802563

2 1, 847

9.24.94.6

7.2

11.910.2

.1191

4,141

13, 5819,933

329

45, 0711,576

97

7,385

81.7080. 8883. 25

10,842100.4

7,805

395488609108

1, 339775419139664258577

3,3671,2091,306

1,577869450

1,502

179470613

2,145

9.15.65.7

11.910.0

. 1191

81.7080.88

10, 913104.4

.1191


October 1972 SURVEY OF CUEKENT BUSINESS S-33


1970 1971

Annual

1971


1972



NONFERROUS METALS AND PRODUCTSAluminum:

Production, primary (dom. and foreign ores)thous. sh. tons. _

Recovery from scrap (aluminum, content). .do

Imports (general):Metal and alloys crude doPlates sheets, etc do

Exports:Metal and alloys crude doPlates sheets, bars, etc.* do

Price, primary ingot, 99.5% minimum.. _$ per lb_.

Aluminum products:Shipments:

Ingot and mill prod (net ship ) mil IbMill products total do

Sheet and plate doCastings - do

Inventories, total (ingot, mill prod., and scrap),end of period mil. Ib

Copper:Production:

Mine, recoverable copper thous. sh. tons. _Refinery primary do

From domestic ores doFrom foreign ores do

Secondary recovered as refined do

Imports (general):Refined unrefined scrap (copper cont ) do

Refined doExports:

Refined and scrap _ doRefined do

Consumption refined (by mills etc ) doStocks refined end of period do

Fabricators' doPrice, electrolytic (wirebars), dom., delivered

$ per lb-Copper-base mill and foundry products, shipments

(quarterly total):Brass mill products mil IbCopper wire mill products (copper cont } doBrass and bronze foundry products do

Lead:Production:

Miine recoverable lead thous sh tonsRecovered from scrap (lead conf' ) do

Imports (general), ore (lead cont.), metal.. .doConsumption, total do

Stocks, end of period:Producers', ore, base bullion, and in process

(lead content) ABMS thous sh tonsRefiners' (primary), refined and antimonial

(lead content) thous sh tonsConsumers' (lead content)^ doScrap (lead-base, purchased), all smelters

(gross weight) thous sh tonsPrice, common grade A $ perlb__

Tin:Imports (for consumption) :

Ore (tin content) lg. tons__Metal» unwroughti 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, pig, Straits (N.Y.), prompt $ perlb__

Zinc:Mine prod recoverable zinc thous sh tonsImports (general) :

Ores (zinc content) . doMetal (slab, blocks) . _ do

Consumption (recoverable zinc content):Ores _ _ doScrap, all types do

Slab zinc:Production (primary smelter), from domestic

and foreign ores thous sh tonsSecondary (redistilled) production doConsumption, fabricators. __doExports _ _ _ _ _ d oStocks, end of period:

Producers', at smelter (Z I )O____ do _ _ _Consumers' do

Price, Prime Western _. $perlb..r Revised. *> Preliminary. i Annual data; me2 Average for 11 months. 3 Less than 50 tons.AEffective Dec. 1971, nationwide delivered price s

3, 976. 11940.0

350.278.7

408.5146.0

.2872

9,952.57, 358. 03, 688. 61,506.5

4,387

1,719.71, 765. 11, 521. 2

243.9475.0

394.2132. 1

348.9222.0

i 2, 042i 348. 0i 187. 0

2. 583

2,5132,329

751

571.81597.4

357.11, 360. 6

179.4

97.9U33.5

173.3.1562

4, 66750, 554

120,001i 2, 574

i 73,837i 53,027

4,96611, 3181. 7414

i 534. 1

525.8270.4

H24.81259.9

1877.8177.2

1 1, 187. 0.3

i 98. 3189.6.1532

nthly rev4 Jan.-M

ubstitutec

3, 925. 2852.0

560.471.0

112.3149.0

.2900

10,258.27, 846. 23, 976. 41,577.2

5,029

1,522.21, 591. 81, 410. 5

181.3371.0

365.8162.1

283.0187.7

2, 014277. 4174.4

2. 5201

2,7112,354'751

578. 6572.7

261.71,431. 5

154.7

51.8118.7

72.1.1380

3,060146,940i 17, 973i 2, 870

i 69,950i 52, 415

2, 3069,804

1. 6734

••i 491.4

342. 6319.6

i 119.3i 277.4

i 772. 974.5

1 1,254. 113. 3

141.3i 104. 3

.1613

isions are[ar. 1972.I for N. Y.

333.476.0

38. 15.7

5.612.2

.2900

814.3653.7339.5124.3

4,746

105.674.063.210.924.5

37.023. 2

10.15.4

154.5229.8168.9

.5290

48.246.1

13.9123. 2

163.1

74.3126.4

66.7.1412

125,2061,720

2455, 1853,760

39811, 2051. 6607

41.2

18.128.5

10.821.1

51.75.6

97.5

62.6100.9.1700

not avai*Ne\*

-basis pr

325.865.0

43.77.4

12.618.9

.2900

878.0674. 4342.6134.2

4,774

115.1103.1

90.912.129.8

41.520.2

16.410.4

151.9224.4143.6

.5289

641557

••166

51.049.1

24.4130.6

165.9

63.1122.8

63.7.1412

5975,2071,685

2605,8704,455

40010,9051. 6729

38.2

24.041.7

15.720.7

45.75.7

101.20

56.994.6

.1700

lable.T series,ice.

329.077.0

31.54.2

4.07.8

.2900

779.5620.6297.8143.4

4,881

135.3138. 6124.314.337.0

21.315.5

7.44.1

174.6242. 8142.1

.5284

48.751.6

18.6127.8

158.9

57.1114.1

66.3.1416

9201,8581,680

2505,9104,465

199,025

1. 6770

40.1

23.817.6

7.521.6

61.26.3

104.6.1

51.191.3

.1700

314.272.0

24.03.1

7.712.6

.2900

786.7618.1303.5138.1

4,992

136.8145.9130.615.335.9

18.213.4

15.69.4

167.2260.7154.0

.5224

49.350.6

20.7121.1

153.3

48.2116.9

64.6.1388

03,1801,595

2655,8004,155

98,520

1. 7539

40.8

20.325.5

10. 121.0

61.45.9

100.5(3)

52.997.1

.1700

cflnOPi

324.575.0

48.55.5

6.915.1

.2900

843.3629.1320.1135.5

5,029

134.9149.7137.5

12.231.4

49.217.8

29.420.8

155.1277.4174.4

.5032

669584

••171

56.146.0

23.5117.3

154.7

51.8118.7

72.1,1402

05,4141,485

2605, 6103, 920

239,804

1. 7436

39.3

27.743.4

11.220.5

64.55.9

105. 8(3)

50.698.4

.1700

eludes seoducers'

326.177.0

46.810.7

13.414.4

.2900

863. 3670. 3354.1149.3

5,053

130.2141.2127.114.136.1

29.012.6

18.810.5

» 293.0

.5032

48.845.3

26.6115. 5

141.0

57.9122.7

74.2.1400

1974, 9711,665

2055,3704, 125

5112, 0051. 7131

37.8

33.227.3

11.320.5

62. 06.0

106.6.7

50.595.0

.1700

sondarystocks el

313.685.0

43. 95.3

3.512.1

.2900

913.1713.7369.9152. 6

5,038

139.0146.3133.512.927.3

26.28.6

34.826.6

.5061

53.341.8

18.9116.7

145.4

50.2121. 5

74.8.1460

4695,9751,710

2505, 4704,100

8612, 6701. 7200

39.8

31.031.3

11.621.1

56.25.6

113.4.6

37.892.0

.1700

smelters'sewhere,

336.287.0

70.09.0

6.713. 5

.2900

1,017.4796.9410.3162.3

5,004

147.4173. 7152.321.436.9

38.916.1

33.122.8

4523.0v 289. 0P 165. 0

.5257

705642166

55.754.2

42.5

151. 1

v 37.8133.5

71.1.1550

4413,0191,815

2256, 1904,605

11811, 2471. 7981

45.6

23.453.5

12. 821.1

60.75.9

126.01.5

29.497.6

.1730

lead stocend of S

330.892.0

55.06.1

6.412.3

. 2900

945.9732.4376.4157.5

4,980

140.7153.5139.514.0

29.910.5

26.720.2

. 5257

52.251.9

22.5116.5

155. 9

29.0133.4

69.2.1557

03,7931,650

2755,7504,410

19110, 6301. 8198

41.5

29.924.7

13.120.9

57.25.7

122. 11.3

23.493.2

.1774

;ks in refept. 1972

346.494.0

73.46.4

7.512.0

.2636

1,064.5818.1416. 8

'165.8

4,915

144.8164.4149.415.0

33.513.6

20.814.4

.5257

54.255.0

30.5124.6

153.2

35.9132. 1

64.2.1560

3226,2481,655

2706,1504,690

23512, 5351. 7792

43.7

24.639.0

11.822.1

63.15.7

128.30

21.296.9

.1787

mery sha10,500 s

339.991.0

66.37.7

8.413.7

.2500

'1,047.5r 840. 8' 440. 0

160.3

4,871

r 137. 7159.4143.515.9

35.925.1

19.212.9

.5257

'51.250.4

51.8122.9

158.6

40.3135.3

66.6. 1550

04,7011,770

2455,9854,660

4211,2401. 7503

.«"41.8

24.959.8

12.222.3

64.34.9

121.7

21.3' 111. 4

.1800

pes andhort tons

348.578.0

44.85.9

7.711.6

.2500

892.8726.8387.4119.9

4,925

114.9128.2114.114.1

44.714.1

17.911.0

.5063

52.848.9

17.191.0

159. 1

55.3142.6

62.8.1550

1,0722,842

5,2304, 150

16211, 2151. 7661

40.4

14.744.9

11.221.3

59.53.8

97.90

26.7125.0.1800

n copper>•

39.27.5

7.39.7

.2500

35.618.5

18.311.1

.5061

22.9

.1541

03,406

95

1. 7912

8.940.6

23.5

.2500

.5061

.1500

1. 8199

v

28.0

. 1800 . 1800

-base scrap.


S-34 SURVEY OF CUREENT BUSINESS October 1972


1970 1971

Annual

1971


1972



MACHINERY AND EQUIPMENT

Foundry equipment (new), new orders, netmo avg shipments 1967 — 100

Heating, combustion, atmosphere equipment, neworders (domestic), net, qtrly. . mil. $

Electric processing heating equip.. doFuel-fired processing heating equip ._ do

Material handling equipment (industrial) :Orders (new), index, seas, adjt ..1967=100--

Industrial trucks (electric), shipments:Hand (motorized) numberRider-type _ _ . do

Industrial trucks and tractors (internal combustionengines), "Shipments number

Industrial supplies, machinery and equipment:New orders index, seas, adjusted*. _ 1967-69= 100__

Industrial suppliers distribution:Sales index, seas, adjusted*. ....1967=100..

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 do

Domestic doShipments, total do

Domestic doOrder backlog, end of period do

Tractors used in construction:Tracklaying, total units

mil. $..Wheel (contractors' off-highway) units. _

mil. $..Tractor shovel loaders (integral units only), wheel

and tracklaying types _ units. .mil. $

Tractors, wheel (excl. garden and contractors' off-highway types) units.,

mil. $..

ELECTRICAL EQUIPMENT

Batteries (auto, replacement), shipments thous..Electronic components, factory sales:

Semiconductors:Discrete devices mil $Integrated circuits do

Tubes, selected power and spec, purpose... do.. ..Microwave doElectro-optical doHigh vacuum, gas, and vapor... do

Capacitors doMotors and generators:

New orders, index, qtrly 1967=100..

Radio sets, total, production thousTelevision sets (incl. combination) , prod do

Household electrical appliances, factory sales:Air conditioners (room) _ thous..Dishwashers* doDisposers (food waste)* ... _ . doRanges doRefrigerators doWashers _ doDryers (incl. gas) doVacuum cleaners do

GAS EQUIPMENT (RESIDENTIAL)

Furnaces, gravity and forced-air, shipments* thous..Ranges, total, sales* doWater heaters (storage), automatic, sales* do

155.6

188.5

} 150.9

103.3

13,81614, 811

41,194

101. 0

105.9

651. 30506. 75992. 90827.35470. 7

261. 25226. 60450.15411. 60234.8

i 19, 4361464.615,0991 170. 5

i 24, 6221 581. 1

1 175,3091847.0

37, 863

1769524

1335144191180483

98.3

16,4069,483

5,8862,1161,9762,3625,2864,0932,9817,382

1,4712, 3622,785

84.2

63.7( 7.5I 30.3

99.6

12,64414,621

49, 289

102.6

104.7

608.75524.10672. 30554. 20407.5^

252. 40223. 20325. 60285. 60161.8

118,5201479.614,3341166.9

127,145i 640. 9

1165,343i 891. 9

39, 144

1621534

1300124180176435

87.0

18,57911, 197

5,4382,477

12,2912, 7145,691

14,6083,3777,973

1,7952,5493 ,088

53.2

105.6

934889

3,441

106.3

105.7

60.4054.5040.9033.35405.4

17.9014.6521.6516.90182.3

3,606

48.344.6

35.4

1,149844

149.5232.8197.6254.5576.7424.3324.0,692.2

167. 0232.5262.1

48.4

14.11.85.9

110.8

1,1121,299

4, 209

106.5

110.1

49.8544.1558.9047.40396.4

25.4024.6021.9018.65185.8

4,051109.22908

233.2

6,295156.1

41,526212.2

4,402

56.550.760.127 814.717.638.8

85.5

< 1, 843« 1, 195

118. 3220.9239.2233.0507.8495.0370.1827.5

187.9254.2235.8

79.5

85.6

1,2111,509

4,838

105.2

102.4

45. 0041.7547.9038.75393.5

21.0516.2527.3020.75179.6

4,310

52.846.4

37.4

1,725912

120.8299.9219.0286.3650.0446.2385.3825. 7

197. 1223.0262.8

69.1

111.7

9531,229

3,900

104.3

112.0

55.4550.8041.7036.45407.3

22.6018.4526.4020.00175.8

4,264

51.747.5

34.5

1,535941

258.6266.5228.2260.8477.5409.2354.7712.7

158.3213.7230.2

117.6

14.42.25.9

108.4

1,1981,451

4,771

106.7

117.2

70.8062.7570. 6562. 60407.5

20.7519. 9534.8032.40161.8

4,15599.02 687

225.9

6,498139.9

43 482246.2

4,160

66.751.771 032 018 320 739.5

86.5

* 1, 9284 1, 184

320.8200.4199.8232.2406.5366.3315.8623, 8

147.5215.0224.5

72.9

111.6

1,0041,128

2,764

107.2

108.0

51.1547.9539.6033.65419.0

19. 6017.9516.3513.70165.0

3,804

53.847.9

33.5

1,2761,002

476.3206.4201.6244.1428.8412.8347.4748.8

161. 7181. 9267.4

70.5

116.0

1,0931,205

3,022

105.8

114.2

60.8055.2546.4040.10433.4

24.9521.8022. 7019.30167.3

3,654

54.452.7

33.4

1,336956

541.9227.9212.2238. 3446. 2381.5304.6884. 7

159.8210.9293.8

90.8

16.22.57.4

114.9

1,2971,404

3,282

108.0

119.4

95.7077.3566. 7548.15472.4

23. 4021.7533.5028.85157.2

5,795157.9

21,021232.1

11,938202.5

52,993313.1

2,826

63.757.977.034.622 020.438.9

85.5

* 1, 857* 1, 286

611.9242.6259.3245.2471. 9425.0304.3743.1

170.6261. 6304.2

78.0

107.6

1,2531,279

3,281

112.8

112.8

66.7057.2049.5544.40489.6

27.6526.5026.3521.95158.5

2,249

60.756.9

35.5

1,6161,012

704.2263.2210.7274.3515.5373.7248.8634. 1

169. 8211.2278.0

62.1

112.6

1,2501,314

3,265

117.5

120.9

80.4569.9057.1548.25512.9

29. 7526.0023.6521.50164.6

2,558

60.357.3

34. 8

1,420995

681.2268.8210.9273.5583.6408.8263.1599.7

153.4221.2251.0

67.0

23.84.0

12.8

125. 9

1,2831,685

3,940

120.1

119.5

75.0066.7070.0563.00517.8

40. 1038.4533.8530. 45170.8

5,682153.21,70769.2

12,037214.1

52, 571310.5

2,794

67.560.3

37.7

*103. 5

4 1 ,9544 1 ,312

407.5262.9243.8243.0563.0408.7255.1583.5

165.5238.5244.1

54.6

129.8

1 ,1021,282

2,788

119. 9

112.6

78.6064.6547.8042.25548.6

25.8022.9024.6022.65172.0

3 1, 655344.8

311,026366.8

' 3, 178

32.3

1,314793

280.6236.1210.7269.3637.4406.9272.2498.1

'156.3'169. 4'240.8

58.4

123.5

127.2

77.1568. 9048.6044.15577.2

31.1529.4519.5017.40183.6

31,6533 46. 3

3 12, 526380.9

4,086

1,543963

129.7293.8250.3297.4629. 2505. 1375.1689.5

172.8225.2243.5

121.5

4, 157

42,194* 1, 451

PETROLEUM, COAL, AND PRODUCTS

COALAnthracite:

Production _ _ _ _ thous. sh. tons..Exports . _ doPrice, wholesale, chestnut, f.o.b. car at mine

$persh. ton..Bituminous:

Production thous. sh. tons. .

19,481789

16. 565

602,932

8,589671

17. 673

••1548,000

81376

17. 346

'56,185

765105

17. 444

54,042

70817

17. 346

11,768

68336

17.346

26,133

65466

17. 346

55,599

55829

17. 738

47,520

51864

17. 738

46,325

59626

17.738

51,040

46725

17.738

49,840

67677

17.738

53,020

49387

17. 738

49,565

44531

17. 738

40,210

'65949

18. 130

'51,265

704

19.110

48,435

' Revised. v Preliminary. i Annual data; monthly or quarterly revisions are notavailable. 2 Excludes figures for rubber-tired dozers (included for other periods). 3 Formonth shown. 4 Data cover 5 weeks; other periods, 4 weeks.

Êffective with the Apr. 1972 SURVEY, index reflects new seasonal factors. Revisions for1969-71 appear at bottom of p. S-34 of the Apr. 1972 SURVEY.

*New series. Industrial supplies (marketed through distributors)—orders index (American

Supply & Machinery Mfrs. Assn.), based on 2-month moving average of selected membersnew orders, is also adjusted for number of working days. Sales index (National and SouthernIndustrial Distributors Assns.) is based on selected panel of members' operations which covernational sales for maintenance, repair, and operations for all types of industries. Dishwashersand disposers (Assn. of Home Appliance Mfrs.) and gas equipment (Gas Appliance Mfrs.Assn.) reflect total industry sales. Monthly data prior to 1971 are available upon request.




1970 | 1971

Annual

1971


1972


PETROLEUM, COAL, AND PRODUCTS—Continued

COAL — Continued

Bituminous — ContinuedIndustrial consumption and retail deliveries,

total 9 . thous. sh tonsElectric power utilities doMfg. and mining industries, total __ ^ do

Coke plants (oven and beehive)... do.__

Retail deliveries to other consumers.. _ do...

Stocks, industrial and retail dealers', end of period,total ..thous. sh. tons

Electric power utilities ...doMfg. and mining industries, total do

Oven-coke plants do

Retail dealers _ __ .do

Export?.- doPrices, wholesale:

Screenings, indust. use, f.o.b. mine$ per sh. ton_.

Domestic, large sizes, f.o.b. mine. do

COKEProduction:

Beehive _ _ thous. sh. tons..Oven (byproduct). doPetroleum coke §_ . do

Stocks, end of period:Oven-coke plants, total _ _ __ do

At furnace plants. _ _ _ doAt merchant plants .... do._

Petroleum coke>_ doExports _ _ do

PETROLEUM AND PROE>UCTS

Crude petroleum:Oil wells completed numberPrice at wells (Oklahoma) $ per bblRuns to stills. mil. bblRefinery operating ratio % of capacity]

All oils, supply, demand, and stocks :New supply, totalcf .mil. bbl..

Production:Crude petroleum. doNatural-gas plant liquids ......do

Imports:Crude and unfinished oils .doRefined products do

Change in stocks, all oils (decrease,-) do

Demand, total doExports:

Crude petroleum doRefined products _ do

Domestic demand, total 9 doGasoline doKerosene do

Distillate fuel oiL doResidual fuel oil _ doJet fuel do

Lubricants... _ doAsphalt _ doLiquefied gases __._ do

Stocks, end of period, total doCrude petroleum doUnfinished oils, natural gasoline, etc.. ...doRefined products do

Refined petroleum products:Gasoline (incl. aviation):

Production do

Stocks, end of period _ _do._._

Prices (excl. aviation):Wholesale, ref. (Okla., group 3) _ $ per galRetail (regular grade, excl. taxes), 55 cities

(1st of following mo.) $ per galAviation gasoline:

Production.. _ _ . _ _ . _ mil. bbl..Exports.. doStocks, end of period do

Kerosene:Production doStocks, end of period _ doPrice, wholesale, bulk lots (N.Y. Harbor)

$ per gal..

4 517,158* 320,4604184,328

496,009

4 12,072

92, 27571, 295

(3)8,924

(3)

70,908

7.6419.647

48714 65, 6544 21, 574

4,1134,018

951.0592,514

2 13, 0203.23

3, 967. 5490

4 5,377.7

4 3,517.4612.2

522.64 725. 5

37.7

4 5,332.2

5.0489.5

4 5,237.74 2,131.3

96.0

927. 2804. 3

4353.0

49.7153.5

4 446. 8

1, 017. 9276.4106.0635.5

2,105.31.4

214.3

.119

.246

19.7.9

5.1

95.727.8

. 118

2494,8732326,2802 157,0352 82, 8202 11, 351

94.02176, 98716. 7597,199

275

56,633

9.69611. 209

273056, 66421, 823

3,5103,385

1251,4891,509

11,8043.41

4,087.886

5,532. 7

3,478.22623.9

658.6758. 7

26.1

5,497. 2

.581.2

5,415. 52, 213. 2

90.9

971.3837.9366.6

49.4158.5

2 456. 8

1,043.9259.6106. 8677. 5

2, 202. 61.6

223.8

.120

.252

18.51.24.4

87.524.4

.126

38,55827, 78310, 0795,164

670

(3)91, 722

(3)10,369

(3)

7, 107

9.71910. 890

553,4551,950

3 818r 3, 702

'1161,539

175

8863.41

352.487

465.2

293.852.7

63.453.7

29.7

435.4

06.7

428.7197.0

4.5

56.155. 732.0

4.321.933.5

,065.7272.4107.0686.3

196.6.1

208.4

.120

.264

1,9.1

4.1

6.128.0

.127

38,31327, 05110, 2815,817

950

(3)97,457

(3)11, 818

(3)

6,766

9.71910. 890

543,9761,787

4, 0703,939

1311,900

136

9593.41

334.085

447.6

276. 050.9

61.457.5

17.8

429.2

.15.7

423.4183.6

5.9

61.262.230.3

3.619.335.0

, 083. 5269.8105.9707.8

186. 1.3

212. 3

.120

.266

2.1.2

4.4

5.627.8

.127

36, 37925, 1679,9715,699

1,224

(3)86,360

(3)7,988

(3)

3,450

9.71910. 940

383,9611,853

4,1434,000

1431,793

92

9213.41

345.585

460.7

286.052.8

64.056.3

13.9

443. 9

0)5.9

438.0188.6

6.8

65.659.832.2

4.517.239.4

,097.4265.9109.8721.7

188.20)

212.9

.118

.244

1.60)4.4

7.228.2

.127

36, 41725, 9449,1504,679

1,315

(3>74, 946

(3)5, 381

(3)

1,318

9.71910. 940

323,2201,783

3,5963,483

1131,584

36

9673.41

333.685

455.6

276.051.2

63.463.8

-22.2

476.3

08.1

468.2184.6

8.5

85.477.230.5

3.812.244.2

1,075.2265. 6110.3699.4

183. 1.1

213.6

.118

.257

1.5.1

4.6

7.126.8

.127

40,83228, 29411,0876,152

1,443

94, 02176,98716, 7597,199

275

4,204

10. 13111. 388

564,2001,853

3,5103,385

1251,489

42

1,3303.41

351.586

497.4

284.056.1

71.384.1

-31.3

525. 2

06.6

518. 6189.311.3

113.687.?32.3

3.96.4

51.8

, 043. 9259.6106.8677.5

196.9.1

223.8

.118

.251

1.1.1

4.4

8.924.4

.127

44, 39930,07412, 5726,872

1,753

92, 90875,78816, 7307,850

390

3,660

10. 26611.446

494,7631,898

3,5853,446

1391,610

68

8073.41

353.185

483.3

282.652.9

68.977.1

-30.0

512.5

05.2

507. 3173.211.8

115.487.331.6

3.85.7

53.7

,013.9251.0109.2653.8

192.6.1

244.6

.118

. 255

1.6.1

4.7

8.721.3

.127

43,55828, 73213,4906, 775

1,336

93, 35675, 81317, 1688,118

375

3,631

10. 26611.446

534,6511,883

3,6113,466

1461,760

63

9653.41

329.485

461.2

269.950.8

64.574.2

-49.8

512.8

04.7

508. 1166.910.7

120.892.033.1

4.16.1

50.4

964.1252.9105.6605.5

175.2.1

254.8

.115

.233

1.20)4.6

6.817.4

.127

44,22428, 26114,9677,458

995

97, 85578.98018, 5458,560

330

4,624

10. 26611.446

515,0761, 912

3,3233, 139

1841,601

77

1,2103.41

351.885

498. 0

294.355.2

67.379.0

-21.8

519.9

09.0

510.9200.4

8.8

107.883.231.2

4.67.5

43.5

942,,3258. 9109.8573.6

184. 9.1

241.2

.115

.238

1.2.1

4.0

7.115.7

.127

40, 79625, 90814,3377,423

540

103, 70283,68919,7039,343

310

4,915

10. 14611. 120

555,0911,770

3,1112,900

2U1,549

95

9233.41

335.684

468.2

285.753.4

63.763.6

4.3

462.2

.27.2

454.9190. 0

5.3

83.373.329.6

4.610.135.0

946.6266.6113.6566.4

176.8.1

229.5

.120

.228

1,40)4.0

6.916.4

.127

40,99526,64813,8977,639

430

110,59790,49319,76410, 014

340

5,416

10. 14611.120

515,2361,813

3,0222,795

2271,537

151

9203.41

355.986

487. 9

298.4; 54.1

69.563.2

37.8

454.2

06.2

448.1201.2

4.4

69.865.431.0

4.515.730.5

984.4279. 5116. 3588.6

188.6.1

219.2

.120

.236

1.50)4.1

5.217.1

.127

4,882

10. 14611. 120

534,9761,821

2,9072,643

2631,589

107

1,0423.41

355.389

474.0

287.652.4

' 65. 666.0

7.2

464.6

06.3

« 458. 3206.1

3.5

65.865.934.9

4.319.233.1

991.6271.4120.4599. 8

189.1.1

204.3

.120

.240

1.4.1

3.9

5.018.6

.127

3,627

10. 14611. 120

495,0241,884

3,0892,748

3401,661

76

8333.41

368.589

484.5

294.154.1

71.062.7

31.8

454. 8

06.4

448.4208.3

2.9

54. 865.431.0

4.820. 034.4

,023.4265.8116.0641.6

206. 7.1

204.7

.120

.235

1.3.1

3.7

5.721.5

.127

6,337

10, 14611. 120

545,088

3,1852,831

355

74

9463.51

.120

.261

.127

10.42611.120

3.51

.120

.254

.127' Revised. « Corrected.

an 50 thousand barrels. 2 Reflects revisions not available by months.1 Corresponding monthly revisions will be shown later.

-3 Not available.cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," not

shown separately.9 Includes data not shown seperately. § Includes nonmarketable catalyst coke.




1970 1 1971

Annual

1971


1972


PETROLEUM, COAL, AND PRODUCTS—Continued

PETROLEUM AND PRODUCTS— Continued

Refined petroleum products— ContinuedDistillate fuel oil:

Production mil. bblImports doExports doStocks end of period doPrice, wholesale (N.Y. Harbor, No. 2 fuel)

$ per gal.-Residual fuel oil:

Production mil. hhlImports doExports doStocks end of period doPrice, wholesale (Okla., No. 6) __$ per bbl..

Jet fuel:Production mil. bblStocks end of period do

Lubricants:Production _ _ _ _ _ _ _ _ d o _Exports doStocks end of period doPrice, wholesale, bright stock (midcontinent,

f o b Tulsa) $ per gal

Asphalt:Production mil bblStocks end of period do

Liquefied gases (incl. ethane and ethylene):Production total mil bbl

At gas processing plants (L P G ) doAt refineries (L R G ) do

Asphalt and tar products, shipments:Asphalt roofing total thous souares

Roll roofing and cap sheet doShingles all types ^ do

Asphalt siding doInsulated siding doSaturated felts thous sh tons

897. 153.8

9195 3

.108

257.5557 819.854 02.25

301.927 6

66.216.114 7

270

146.715 8

525 6399 6126 0

f\7 n

83 17934 75648 423

260334848

912 155 82 8

190 6

.116

274 7577 513 259 72.37

304 727 7

65 515 815 0

270

157 021.2

547 9417 6130 294 7

93 36535 68457 682

189374899

77 92 *

3197 0

.117

19 239 71.4

65 92.35

24 927 7

5.61 6

14.8

270

17 420.2

47.135 311 8

104 0

8 9283 3485 580

153576

71 33 0

I210 1

.117

19 743 5

966 52.35

25 028 1

6 21 3

15 0

270

16 218 1

44 434 310 1

•JAQ I

9 5833 7675 816

143280

74 83 7

1293 o

.117

19 742 6

968 52.35

26 327 2

6.61 1

14.9

270

15 016.5

46 2?5 810 4

109 4

9 0513 5005 551

123681

72 25 1

2214 8

.117

22 347 11 2

59 92.35

26 127 9

5 11 3

14 9

270

12 817 6

45 035 110 0

103 6

7 6722 9864 686

133371

78 411 0

1190 6

.117

27 659 5

559 72.35

25 827 7

5 21 2

15 0

270

9 821.2

50 038 811 194 7

6 7662' 7723 994

152973

78 86 1

1160 1

.117

28 658 7

559 42.35

24 325 9

5. 51 4

15.3

8.224.1

47.236 710.582 4

(3)(3)(3)

(3)(3)(3)

77 Q5 9

1122 2

.117

27 955 8

550 92.35

26 125 2

4.91 0

15.1

8 126.6

45.735 310 471 9

79 g7 g

1101 8

.117

25 759.71.8

51 62.35

28 127.1

5.41.5

14.4

10.029,2

49.037.911.272 7

74 45 7

298 3

.117

22.250 31.5

49 42.35

26 327 6

5.21.3

13.7

11.431.0

47.436.510.879 9

80 34 1.1

112 9

.117

20 648.8

.653 02.35

27.528.9

6.71.1

13.7

.270

14.931.0

48.136.811.392 7

78 82 9

1128 8

.117

19 849 5

656 12.35

25 828 4

5.61.1

13.9

.270

16.028.6

46.135.210.8

101 2

78 53.1.1

155.6

.117

20.949.41.1

60.22.35

27.129.4

5.41.1

13.4

17.126.4

48.036.411.5

109 8

.117

2.35

.117

.235

PULP, PAPER, AND PAPER PRODUCTS

PULPWOOD AND WASTE PAPER

Pulpwood:Receipts thous cords (128 cu ft )Consumption doStocks, end of period do

Waste paper:

Stocks, end of period ' do

WOODPULPProduction:

Sulfate doSulfite.. _ _ _ ___ do

Groundwood doDefibrated or exploded... doSoda, semichem., screenings, etc ___do

Stocks, end of period:Total, all mills do

Pulp mills doPaper and board mills.. doNonpaper mills do

Exports, all grades, total doDissolving and special alpha.. __ doAll other. _ do

Imports, all grades, total doDissolving and special alpha d o _ _ _ _All other do

PAPER AND PAPER PRODUCTS

Paper and board:Production (Bu. of the Census):

Paper doPaper board doWet-machine board do

Wholesale price indexes: ;Book paper, A grade... 1967=100..Paperboard _ , _ doBuilding paper and board __do

'68 86367 5626 594

in fiQ4.571

1 7OK

29,4722,344

4,4042,1053,515

91737847069

3, 755869

2 886

i 3, 538273

13 265

23 40925*465

139

109.5101.1101.2

67 22067 5016 215

in QQ7696

1 fi7129, 6512,101

4,4622,4053,743

1, 12457347971

i 2, 175790

1 1 385

! 3, 515313

i 3 202

23 83826 120

138

110.6102.4103.0

5 4735,4455, 184

885482

3 O(")K

1382,483

174

386292331

1,07360938777

16259

103

29628

269

A 'R77

1 9732 256

9AA(\

109.2102.8104.3

6 5035,1855,460

883506

o eno

127

2,313161

432240322

1,04458238578

24095

145

27522

254

A Kfifi

1 9272 137

12.JOft

109.2102.8104.5

5,6215,6715,423

939499

4 072145

2,617191

483278358

1,00363728878

11248

161

26227

289

4 9872 1782,341

11457

109.2102.9104.6

5 2385,4345,207

861499

3 808140

2,446173

467236346

1,154697381

76

1425289

30715

322

4 6322 0162,190

10417

109.2102.9104.7

5,2295,0846,215

828696

q 4.QQ

1382,219

159

423240320

1,12457347971

23576

159

29825

274

4 3591 9222,026

10401

109.2102.7104.6

5,2545,6634,909

874522

3 866149

2,544162

440270302

1,07763237965

18573

112

30915

294

4 7692,0872,288

10384

109.2102.7104.7

5,2965,4224,819

901498

q 7fiK

1402,494

164

419

306

1,02658937463

17161

110

30030

270

A 7*1

2 0512,280

11409

109,2103.5104.7

5,8155,7904,797

974506

3 778'l51

2,695189

398(3)345

1,00354439367

17159

113

34024

316

5 2222,2302,519

12460

109.2103.6105.6

5,4495,6554,578

914504

3 893'l47

2,5941 Q1181

379

339

984548362

75

18466

119

32526

300

4 8282,0552,320

11442

108.5105. 6106.1

5,4575,7324,305

989526

4 013'l35

2,688189

393

350

954492385

78

21768

150

29024

266

5 2032,1942,548

12449

108.5105.8106.6

6,0426,0795,504

r 967••538

3 942142

2,6651QO182

380

332

'943477

••392r74

17662

114

30916

293

r 5 023' 2, 127'2,436

'12' 448

108.5106.0106.6

5,7065,7425,481

r 840'547

r 3 7Q6126

' 2, 569152

359236325

'907432

••402'73

18669

116

2716

265

' 4 613' 1 926r 2 255

11' 421

108.8106.0106.8

6,0315,9275,651

963568

3 991138

2,685•ton

390OKft

337

91043040674

17567

108

31021

331

5 2032,1982,522

11472

108.8106.0107.2

108.8106.5107.3

r Revised.1 Reported annual total; revisions not allocated to the months.

2 Less than 50 thousand barrels,s Series discontinued.


October 1»72 SURVEY OF CURRENT BUSINESS S-37


1970 1971

Annual

1971


1972


PULP, PAPER, AND PAPER PRODUCTS—Continued

PAPER AND PAPER PRODUCTS— Con.

Selected types of paper (API):Oroundwood paper, uncoated:

Orders new - thous. sh. tonsOrders unfilled end of period doShipments do

Coated paper:Orders new - .. doOrders unfilled end of period doShipments do

Book paper, uncoated:Orders new - - __do -Shipments do

Writing and related papers:Orders new _.do__Shipments do

Unbleached kraft packaging and industrial con-verting papers:

Orders new doOrders unfilled end of period. . _ doShipments -- _ _ _ d o _ . .

Tissue paper production do

Newsprint:Canada:

Production - - doShipments from mills doStocks at mills end of period do

United States:Production doShipments from mills _ _ doStocks at mills end of period do

C on sum ption by publishers d* doStocks at and in transit to publishers, end of

period thous. sh. tons

Imports doPrice, rolls, contract, f.o.b. mill, freight allowed

or delivered _ _ _ _ __$persh . ton

Paperboard (American Paper Institute):Orders, new (weekly avg.) -thous. sh. tons_.Orders, unfilled § _ _ _ _ doProduction, total (weekly avg.) do.__.

Paper products:Shipping containers, corrugated and solid fiber,

shipments mil sq ft surf area

Folding paper boxes thous. sh. tonsmil$

1,24590

1,240

3, 163183

3,260

2,3962,476

2,8692,873

3, 714111

3,7553,671

8,6078,592

236

3,3103,303

33

7,130

749

6,635

150. 50

349742489

185 864

2, 490. 01, 225. 0

1,21680

1 220

3,255287

3 250

2,6432 550

2,9362 945

3 868156

3,7553 765

8,2978 210

323

3 2963,288

41

7,057

705

6,881

157.00

474917501

191 832

2 445.01, 250. 0

96118107

274300279

214219

265255

328152303309

678697375

27927798

558

699

547

158. 10

5311, 039

516

16 412

204.4105.9

97115100

257287270

217203

*237247

319169314300

692680387

25426785

580

685

608

158. 10

5001 000

494

17 144

208.4109. 5

115117112

289289285

229220

244253

339170326348

786760413

28928094

653

682

607

158. 10

5361,003

528

17 280

208.8109.5

9688

113

275279285

209210

210235

349171336327

758762409

28530276

643

704

610

158. 10

5321 003

517

16 653

204 9105.0

10080

114

257287277

212208

238236

307156327308

698784323

25729241

629

705

635

158. 10

474917461

15 866

216.1109.5

10981

100

289249279

220221

250251

348168326327

725604445

28927753

570

711

591

159. 70

521976504

15 453

204.1105.6

ino81

109

281000

272

217211

254247

323171322315

663619489

27826666

571

699

504

161 70

5601 010

539

16 302

194 2101 1

11492

103

306261303

261241

290280

357175346341

685673501

29028868

642

664

550

163.70

5831 087

559

18 358

217.9113.5

10690

101

270248271

236232

256257

317157314330

723727498

28327576

638

647

590

163 70

5741,199

552

16 579

202.0104.8

126106113

276264276

251238

287276

356179335336

735725508

303305

74

663

617

609

163. 70

5961 280

573

17 676

211.3109.8

10896

112

288301261

235232

269271

339189326330

733753488

28328770

613

610

611

163. 70

5901,332

562

18939

213.7112.1

10899

105

272305255

224216

221247

315172324314

699711475

27527372

583

618

625

163. 70

5191,399

520

15, 427

179.993.2

734721489

29429868

605

627

553

163. 70

5561,397

563

15 858

163. 70

5431,420

533

21,482

RUBBER AND RUBBER PRODUCTS

RUBBER

Natural rubber:Consumption thous Ig tonsStocks, end of period doImports, incl. latex and guayule do

Price, wholesale, smoked sheets (N .¥.)„$ per lb_.

Synthetic rubber:Production.. thous. Ig. tonsConsumption _ doStocks, end of period.-- - . _ do

Exports (Bu. of Census) do

Reclaimed rubber:Production doConsumption . doStocks, end of period. _ do

TIRES AND TUBES

Pneumatic casings, automotive:Production - . thous

Shipments, total doOriginal equipment __ __ doReplacement equipment . doExports . do

Stocks, end of period.. doExports (Bu. of Census) do.

Inner tubes, automotive:Production. doShipments doStocks, end of period doExports (Bu. of Census) do

559 32102 60549. 92

.218

2.197.001,917.85

514. 78

290.06

200. 56199. 5727.58

190 403

194, 54146, 135

146,5081 898

50, 1751,531

35 68741 0059 7181,002

577 81133 32612. 72

.180

2,241.00210487

488. 17

269. 82

199. 19200 4722.67

213 110

211 21755 860

153, 4051 952

' 50 4011 589

35 56240 4768*271

979

48 841256169.57

.180

186 98176 68483.90

29.41

15 3216 6525.44

r 17 640

r 17 804'4 348T 13 274

183

'50,401113

2 7923 2788 242

46

51 38131 35

54.25

.179

187 02186 07468. 25

35.01

16 3717 0223. 51

18 889

20 2805 138

15 008133

49 245122

3 2103 7468 003

81

51 82124 9244. 68

.176

193 81190 33462. 10

14. 22

16 8817 8221.85

19 113

18 5035*170

13 24886

49 927108

3 1123 6397 891

59

47 71126 36

42.07

.173

194 90173 3448028

9 76

15 8115 2822 50

17 134

16 3924 936

11 345'ill

50 82492

2 8473*092s'no

79

47 99133 3256.40

.171

196 14178 65488 17

15 51

15 8816 0222 67

17 589

13 8144*3189 315

180

54992*113

2 8633 0358 271

99

55 31128 0157 89

.180

199 99182 77487 44

26 84

15 7616 4221 00

19 074

15 0915 0389 849

*203

59 394129

3 3903 6078 627

101

52 66128 0351 72

.178

192 96187 33478 73

26 72

17 0216 9121 38

19 143

16 0625 245

10 644173

62 705136

3 4773 5328 877

79

59 12133 2263*95

.170

210 13201 96480 11

20 02

19 2417 9621 98

20 597

20 3176*019

14 130167

63 255160

3 7494 0419 056

74

51 91129 7147.62

.165

208 74190 30492 71

16 75

17 7816 0422 60

19 009

21 6685 601

15 905162

60 918150

3 3393*5079 262

82

54 06117 0449.79

.169

210 74197 53491 34

19.99

18 5416 49

26 25

19 725

21 2155 957

15 092166

59 753167

3 4963 5449 494

61

••53 23r 109. 09

36.43

.173

'191.01r 198. 24'485.04

18.14

16.99r 15. 87' 23. 13

'20 270

21, 277' 5, ?4915, 685

243

'58,836215

'3 3673 697

'9 81368

41 05103. 7138. 67

.175

195. 51152. 54518. 88

20.06

11. 5111 7821.87

14 765

16 2092,946

13, 073191

57, 836180

2 4412 9869,481

36

50. 65

.175

22. 10

18 608

19, 6284,685

14, 781162

56, 894225

3 2823 6159,482

65

.180

' Kevised. » Preliminary.cfAs reported by publishers accounting for about 75 percent of total newsprint consumption.

§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of themonth; annual data are as of Dec. 31.




1970 1971

Annual

1971


1972


STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENT

Shipments, finished cement . thous. bbl

CLAY CONSTRUCTION PRODUCTS

Shipments:Brick, unglazed (common and face)

mil. standard brickStructural tile, except facing thous. sh. tonsSewer pipe and fittings vitrified doFacing tile (hollow) , glazed and unglazed

mil. brick equivalentFloor and walltile and accessories, glazed and un-

glazed mil sq. ftPrice index I brick (common), f.o.b. plant or

N.Y. dock. 1967=100..

GLASS AND GLASS PRODUCTS

Flat glass, mfrs.' shipments thous $

Sheet (window) glass, shipments _do___ .Plate and other flat glass, shipments _do

Glass containers:Production .__ _ thous. gross

Shipments, domestic, total doNarrow-neck containers:

Food doBeverage doBeer doLiquor and wine do

Wide-mouth containers:Food (incl. packer's tumblers, jelly glasses,

and fruit jars) thous. grossDairy products do

Narrow-neck and Wide-mouth containers:Medicinal and toilet doHousehold and industrial do

Stocks, end of period do

GYPSUM AND PRODUCTS (QTRLY)

Production:Crude gypsum _ _ thous. sh. tonsCalcined. _ _ _ do

Imports, crude gypsum do___ .

Bales of gypsum products:Uncalcined doCalcined:

Indusrtial plasters. _ doBuilding plasters:

Regular basecoat doAll other (incl. Keene's cement) do

Board products, totalG _. mil. sq. ftLath doVeneer base .. doGypsum sheathing doRegular gypsum board doType X gypsum board. .. doPredecorated wallboard . do

1390 461

6 496 0181 0

1 622 3

173 0

250 4

112. 2

384790

131, 551253,239

1268,959

1266,031

1248781 69, 854

52,626121 142

58 632379

34, 2521 4, 268

37 091

9 4628,654

6,128

4, 219

265

408588

9,742

1429 239

7 569 7157 0

1 720 6

155 4

276 1

117.4

464 674

150 344314 330

263 780

255 261

24 31067 55253 18921 146

57 208305

27 6453 906

35 652

10 43710 224

6 262

*4 305

268

382535

* 11 946477292272

9 0151 766

122

45 136

741 713 3

173 4

13 9

25 2

118.4

25 176

28 931

3 3017 0265 9372 241

7 03029

2 907460

34 401

42 617

733 912 4

155 1

12 7

24 3

118.4

119 950

40, 77379 177

21 993

21 322

2 6325*2114 0531 800

4 99927

2 293307

34 523

2 8162*798

1 806

1 216

67

98149

3 2851268576

2 48447935

40 ncn

790 911 9

14R *\

13 0

24 3

118.4

23 544

19 949

1 6704 7533*6241 867

5 21926

2 478*312

37 600

OC QKA

651 611 1

•MO fl

12 2

23 8

118.4

19986

19 186

1 6055 1303 4551 856

4 47630

2 324310

38 403

26 212

fifil 0

9 9113 9

11 1

22 2

118.4

129 930

41 03688 894

18359

20633

1 5726 0743 9181 896

4 70424

2 169*276

35 652

2 7882 723

1,565

1 101

69

88128

3 1901187670

2 41547833

22 399

507 29* 2

109 9

9 2

22 7

118.3

20, 731

19, 160

1,8694,7893,4331,748

4,60023

2 391307

36, 229

23 910

545 410 3

109 1

8 9

23 6

121.2

21, 533

20,185

2 1505 2383,5221 664

4 66817

2,547379

37 593

32 229

742 19 4

14.4. 1

10 8

28 1

121.4

131 969

40 82191 148

23 239

26 081

2 4697 1784 9232 111

5 873' 22

3 066439

34 666

2,7192,854

1,639

863

70

86122

3,3491187977

2,51252539

34 612

701 38 0

144 0

10 5

25 0

122.0

21 903

19288

1 8375 1194,5511 679

3 79912

1,982309

37 141

42 234

808 310 6

160 4

12.0

27 7

122.1

23,350

23,650

2,0916,9995,0161,961

4,80321

2,419340

36,487

45 043

'784 6••11.0

r 1(J2 4

'13.2

28 4

122.1

133 248

40, 23593, 013

24, 704

24, 420

2,0216,9045,7312 021

4 87019

2 492362

36 377

3 1492,996

1,905

MOI86

91126

3, 5841149093

2,66857148

42, 335

732. 78.4

156 9

11.0

24.6

122.1

'23, 082

'21,518

1,8506,2945,070

'1 460

4 56911

1,963301

r37 406

50, 447

122.1

25,071

25,355

2,7776,8595,2661,862

5,50523

2,670393

36, 654

122.1

TEXTILE PRODUCTS

WOVEN FABRICS

Woven fabrics (gray goods), weaving mills:Production total 9 mil linear yd

Cotton doManmade fiber _ _ do

Stocks, total, end of period 9 d" doCotton.. _ " doManmade fiber „ _ do

Orders, unfilled, total, end of period 9 f doCotton doManmade fiber do

COTTON

Cotton (excluding linters):Production:

GinningsA - thous. running balesCrop estimate, 480-pound bales, net weight

thou s balesConsumption doStocks in the United States/total, end of" period

thous balesDomestic cotton, total do"

On farms and in transit doPublic storage and compresses " "doConsuming establishments do

Foreign cotton, total.. do

11 5456 3954 991

1 471592867

2 4341 525

866

10, 112

10 1927 878

11 90011 8861 4829,2571,147

14

11 1176 2814*735

1 094482604

2 7171 5231 168

10 229

10 4778 128-

10 18510 1662 3896, 5471,230

19

848474367

1 208517679

2 5991 5071 068

365

637

14 27614 26111 0521,7071,502

IB

2 1 0522 5982 457

1 202521668

2 4251 3951 007

879

2 771

13 16513 14410 4031,4881,253

21

892503383

1 141507624

2 3931*3521* 018

4 604

633

12 16212 1467 1233,9571,066

16

882493383

1 095480605

2 5521 4461 081

7 895

642

11 24711 2323 7476,4621,023

15

21 0092 5542 438

1 094482604

2 7171 5231 168

3 8, 186

2 727

10, 18510, 1662 3896,5471,230

19

905504394

1 096491596

2 8841 6081 252

4 9, 723

632

9 0889 0641 3996*3151,350

24

920508405

1 104496599

3 0701 7601 282

649

7,6427,614

8785,1401,596

28

2 1 1422 6322 502

1 085485591

3 1831,8151,339

« 10, 229

5 10, 4772 808

6,4746,448

6024,0471,799

26

899494397

1 055480

3,2261,7591, 437

620

5,5555, 526

3773,2531,896

29

923500414

1 045463573

3 4051 9241,450

627

4,5974,573

1612,5721,840

24

2 1 1372 6152 512

1 063465589

3 4231,9021,490

2 772

3 8083,785

1191,9971,669

23

693346340

1 052474570

3 4071 8481 527

40

493

3 3043,280

1501,6071,523

24

521

••587

16,05016,03013, 338' 1,472'1,220

20

.'

1,826

6 13, 6702716

2,02299319

r Revised. •* Reported annual total; revisions not allocated to the months or quarter.2 Data cover 5 weeks; other months, 4 weeks. 3. Ginnings to Dec. 13. * Ginnings to

Jan. 16. s crop for the year 1971. o Oct. 1 estimate of 1972 crop. GData for totalboard products are available back to 1947; however, no comparable data prior to 1971 areavailable for the components.

9 Includes data not shown separately.

cf Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,toweling, and blanketing, and billed and held stocks of denims.

IT Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; productionand stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,and blanketing.

ATotal ginnings to end of month indicated, except as noted.


October 1972 SURVEY OF CUREENT BUSINESS S-39


1970 j 1971

Annual

1971


1972


TEXTILE PRODUCTS—ContinuedCOTTON-Continued

Cotton (excluding llnters)— ContinuedExports.. thous. bales..Imports .. . do

Price (farm), American upland©. .cents per lb.-_Price, middling 1", avg. 12 markets© .. do

COTTON MANUFACTURESSpindle activity (cotton system spindles) :

Active spindles, last working day, total. ---mil--Consuming 100 percent cotton. do _ _

Spindle hours operated, all fibers, total-— .-_bil._Average per working day do

Consuming 100 percent cotton do... _

Cotton yarn, price, 36/2, combed, knit $ per lb..Cotton cloth:

Cotton broadwoven goods over 12" in width:Production (qtrly.) mil. lin. yd--

Orders, unfilled, end of period, as compared withavg. weekly production No. weeks' prod..

Inventories, end of period, as compared withavg. weekly production -No. weeks* prod-

Ratio of stocks to unfilled orders (at cottonmills), end of period f . ._.- . _ • - • .

Exports, raw cotton equiv thous. bales..Imports, raw cotton equiv do

Mill margins:Carded yarn cloth average cents perlb—

Prices, wholesale:Print c^nth 38Mrinch, 64 x 54 cents per yardSheetfog, class B, 40-inch, 48 x 44-48.. .do.—

MANMADE FIBERS AND MANUFACTURESFiber production, qtrly. total mil. lb_.

Filament yarn (rayon and acetate) doStaple, incl. tow (ravon). . doNoncellulosic, except textile glass:

Yarn and monofilaments doStaple, incl. tow... do

Textile glass fiber.. do

Exports: Yarns and monofllaments thous. lb_.Staple, tow, and tops.. __do

Imports: Yarns and monofilaments doStaple, tow, and tops do

Stocks, producers', end of period:Filament yarn (rayon and acetate).. mil. lb._Staple, incl. tow (rayon). ._ doNoncellulosic fiber, except textile glass:

Yarn and monofilaments do____Staple, incl. tow - do

Textile glass fiber do

Prices, manmade fibers, f.o.b. producing plant:Staple: Polyester, 1.5 denier $ per lb..Yarn: Rayon (viscose), 150 denier ..do

Acrylic (spun) , knitting, 2/20, 3-6D . . do

Manmade fiber and silk broadwoven fabrics:Production (qtrly.), total 9 mil. lin. yd..

Filament yarn (100%) fabrics?- -.-doChiefly rayon and/or acetate fabrics doChiefly nylon fabrics _._.do

Spun yarn (100%) fab., exc. blanketing 9.. doRayon and/or acetate fabrics and blends

do.

Filament and spun yarn fabrics (combinationsand mixtures) mil. lin. yd...

WOOLWool consumption, mill (clean basis) :

Carpet class _ doWool imports, clean yield.. do....

Wool prices, raw, clean basis, Boston:Good French combing and staple:

Graded territory, fine- .._$ perlb—Graded fleece, % blood do.

Australian, 64s, warp and half-warp. do

WOOL MANUFACTURESKnitting yarn, worsted, 2/20s-50s/56s, American

system, wholesale price 1967=100Wool broadwoven goods, exc. felts:

Price (wholesale), suiting, flannel, men's andboys', f.o.b. mill. ___1967=100._

2,98237

121.9>23.6

18.611.6

113.0435

70.4

1.008

6,246

15.4

5.5

.36

274.3543.3

43.57

5,391.7730.8607.4

1,793.41, 792.8

467.3

148,843152,871

137,054140,075

75.076.0

288.3242.6103.8

.614 931.39

5,028.21,461.4

639. 7271.4

2,871.6

444.81, 962. 8

472.6

1fi3 776.6

153.179 q

1.024.872.941

101.4

170 «

10L3

« 4, 12838

«28.5«30.0

18.411 4

113.8438

70.3

1.061

6,147

16.9

4.5

27

312.6569. 5

M5.10

15 822.2

6,125.4752.7611.7

2,187.92.104.9

468.2

130,511181,612

249,819175,306

65.240.7

297.6252.989.7

.61

1.26

4,885.61,433.1

521. 1296.1

2,773. 9

381.81,998. 5

450. 5

116 274.8

126.6QO q

.664

.656

.802

94.4

113 3

1623

27.026.8

18.411 48.94435.5

1.078

14.4

4.7

.33

28.152.2

M5.64

16.4

10,51818,236

19, 44916,216

.62

1.25

0 A

6.617.0•10 A

.595

.640

.795

93.3

3105

27.027.3

18.411 4

310.8433

26.7

1.082

1,405

13.4

4.5

.33

36.376.2

45. 32

16.421.8

1,574.3181.9154. 9

580.3531.0126.2

10,89625, 155

23, 98220, 601

70.341.4

263.1246.684.1

.62

1.24

1,147.8343.0125.571.5

639.0

83.3>ifto o

109.3

2 in 727.513.38 4

.610

.640

.795

92.0

22 7

195o27.627.7

18.511 49.14565.6

1.082

12.5

4.3

.34

13.027.3

44.82

16 421.8

5,6096,967

18,22015,702

.62

1.21

O 0

7.05.30 Q

.610

.621

.780

91.1

272(3)

28.728.0

18.411 49.04505.5

1.082

14.3

4.2

.30

23.721.2

44.81

16 422.0

5,4907,505

8,8784,048

.62

1.21

7 76.41.0

g

.605

.593

.805

91.1

4174

29.130.1

18.411 4

210.2407

26.2

1.088

1,527

16.9

4.5

27

45.385.7

44.89

17.523.0

1,637.4178.8168.2

609.2653. 8127.4

9,18612, 446

22,3299,399

65.240.7

297.6252.989.7

.621.031.19

1,275.2388.3130.973.4

701.7

88.7

126.5

2 9 827.210.79 9

.615

.525

.839

88.3

21 1

33715

30.232.9

18.311 29.1AM

5.5

1.096

16 1

4 3

26

33 975.0

44.90

17 523.3

9 85114,441

20 3028 738

.621 no

1.19

9 57. 67.15 0

.625

.525

.890

89.2

40216

30.333.4

18.211 19.1A K7

5.5

1. 107

16 3

4 2

26

31 659 1

45.62

17 R

24 0

9 97116* 080

15 50813 808

.62

1 AK

1.18

10 47.2

10.59 0

.640

.5501.030

89.2

4375

27.833.8

18.311 0

211.54.fin

26.9

1. 107

1 511

17.1

4.1

24

37.758.5

46.26

18 024.0

1, 708. 9179.1179 0

608.7607.5134 6

9,50020, 279

20,38710 985

61 533 0

279 7267.686 2

.62

1 011.18

1,343.1421.3139.986.9

723.7

103.3508.0

137 2

2 14 627.6

7.25 4

.708

.5771.001

90.2

25.6

275Q

31.335.2

18.310 99.24.KQ

5.5

1.115

17.8

4 1

23

32.369.1

45.38

18 024.0

9 31113 177

13 17211 980

.621 ni1.20

11 86.1

11.88 1

.944

.6961.095

92.6

1634

32.335.6

18.310 99.3ARK

5.5

1.121

17.7

3.9

22

33. 855.6

47.29

18 324 0

9 55817 506

17 17313 952

.621 no

1.22

12 66.38.67 0

1.130.895

1.133

105.0

147g

32.034.3

18.410 9

211.5460

26.8

1.123

1 504

18.0

3.9

22

35.871.4

50.10

18 3

1 823 6170.1185 1

674 3653 4140 7

8 50117 312

18 35813 577

64 736 4

270 7279 978 0

.621 031.24

1,378.7430. 2126.596.6

761.6

106.6539.3

128 4

3 15 527.36.34 3

1.200.962

1.270

107.8

27.1

1105

31.033.0

18.310 87.49714.3

1.128

24. 8

6.6

23

29. 753.2

52.12

18 3

8,19417 ,351

21 ,48413 114

.62

1 031.24

r 9 0'4.2

9.98.0

1,2701.0251.230

108.2

594

31.031.1

* 18. 2r 10 7••8.9

r 444'5.1

1.121

18.6

4.0

22

34.267.9

53.81

18 3

10, 53315, 713

26, 27916 771

.62

1 031.24

12.65.8

10.77.8

1.2751.0251.289

111.5

24.426.8

18.210 5

210.9438

26.2

1.117

58.64

18 3

.62

1 041.24

1.3501.0421.500

113,4

r Revised. 1 Season average. 2 y0r 5 weeks; other months, 4 weeks. 3 Less than 500bales. 4 Average for 4 months, Sept.-Dec. « Revised total; revisions not distributedby months. fl Season average prior to Apr. 1972. 7 Beginning Aug. 1971, net weightbasis; 1971 average is for Aug.-Dee. ©Beginning Aug. 1971, prices are on 480-lb. net-weight

bale basis (for earlier months, on 500-lb. gross-weight bale basis); to compute comparableprices for earlier months, multiply farm price by 1.04167 and market price by 1.0438.

t (Effective with the Oct. 1972 SURVEY, series restated on an unadjusted basis.$ Includes data not shown separately.




1970 | 1971

Annual

1971


1972


TEXTILE PRODUCTS—ContinuedAPPAREL

HoMerv shipments v thous. doz. pairsMen's apparel , cuttings:!

Tailored garments:Suits thous. unitsGoats (separate) , dress and sport _ _ _ ._ doTrousers (separate) , dress and sport . . do

Shirts (woven), dress and sport. thous. doz...Women's, misses', juniors' apparel, cuttings::}:

Coats ._ _ thous. units__Dresses « doBlouses and shirts thous dozSkirts — ..do _ _

231 795

17 69411,750

173, 59920, 792

21, 769251, 54013 2506,927

210 872

16 23411, 503

179 73219, 741

17, 033240, 266

12 5905,494

18 698

1 4341 023

15,0801 618

1,60619,405

988481

18 810

1 4271*086

14 7211 772

1 66119, 7841 031'535

20 058

1 4631,' 232

14 6961 824

1,79520 8411 112'587

16 790

1 389l' 076

15 0871 722

1,71719 323

981421

14 834

1 3561, 067

13 4301 603

1,28916 327

786402

15 172

1 6071, 088

15 5031,770

1,34418 3861 106

509

15 932

1 558l', 198

14 8891,713

1,24523,8721 196

599

19 325

1 7031, 279

170301,820

1,146239811 355

590

18 594

1 5781,206

15, 2001,674

94323, 6501 315

516

17 764

1 6831,326

15 0501 717

1,28919 7291 237

447

20 964

r i 575r 1, 413'14 781rl 833

1,55322 6841 397

451

19 730

783710

11 9861 133

1,38215 8631 313

489

21 908

1 5811, 195

14 5801 547

1,73822, 9291 604

534

TRANSPORTATION EQUIPMENT

AEROSPACE VEHICLES

Orders, new (net), qtrly. total .mil. $ .U.S. Government do

Prime contract ...doSales (net), receipts, or billings, qtrly. total. -do. .

U.S. Government do

Backlog of orders, end of period 9 do____U.S. Government do

Aircraft (complete) and parts do _ _ .Engines (aircraft) and parts d o _ _ _ _Missiles, space vehicle systems, engines, propul-

sion units, and parts mil. $.Other related operations (conversions, modifica-

tions), products, services mil. $._

Aircraft (complete) :Shipments . . do

Airfi ame weight thous IbExports commercial mil $

MOTOR VEHICLES

Factory sales (from plants in U.S.), total thous..Domestic . . . . . do

Passenger cars, total do -.Domestic do

T nicks and buses, total ._ _ _ .do .Domestic do

Retail sales, new passenger cars :Total, not seasonally adjusted thous..

Domestics A dotmportsA - do

Total, seasonally adjusted at annual rates .. .mil ..DomesticsA doImports A— do

Retail inventories, new cars (domestics), end ofperiod: A

Not seasonally adjusted thous..Seasonally adjusted . ..do

Inventory-sales ratio, new cars (domestics) Aratio..

Exports (Bureau of the Census):Passen ger cars (new) , assembled thous . .

To Canada -- -- . - doTrucks and buses (new), assembled- . ..do

Imports (Bureau of the Census):Passenger cars (new), complete units do

Trucks and buses, complete units... doTruck trailers (complete), shipments number..

Vans doTrailer bodies and chassis (detachable), sold

separately number

Registrations (new vehicles):©Passenger cars thous. .

Imports, incl. domestically sponsored do...Trucks do

RAILROAD EQUIPMENT

Freight cars (all railroads and private car lines) :Shipments number.

Equipment manufacturers .do. _ .New orders _ do.__

Equipment manufacturers -_-___-_do ._-Unfilled orders, end of period. . _ _ _ do___

Equipment manufacturers d o _ _ _Freight cars (revenue), class 1 railroads (AAR):§

Number owned, end of period _ thous.Held for repairs, % of total owned

Capacity (carrying), aggregate, end of periodmil. tons.

21, 16115, 11619, 01024,75216, 407

24,70512,88213,2642,449

4, 522

2,791

3,605.059,436

1,527.2

8,239.37, 753. 06, 546. 86, 187. 31,692.41, 565. 7

8,4057, 1191,285

1,2201,294

. 2 . 4

285. 04245. 6293.87

2,013.42692.78

i 115. 82105, 70971, 274

26, 138

* 8,388.2« 1,231.0i sj 790 2

i 66, 185i 52, 411i 50, 293i 42, 530

27, 55222,320

1,4235.7

95.6467.19

21, 55315, 22919,02821, 67914, 114

24, 57913, 99711, 9992,281

4,780

3,274

2,972.948, 818

1, 906. 8

0,637.70,036.08,584.68, 121. 72,053.11,914.3

10,2528,6811,570

1,4471,590

2.1

386.64348.40100.04

2,587.48802. 28160. 87

103, 78465,785

18, 509

14 9,729.1i 4 1,465.7141,981.,

155,3071 47, 990152,482146,913

22, 22118, 753

1,4225.6

97.1468.29

119.12,125108. 4

639.9602.1484.8457.6155.1144.5

725566160

10.18.31.9

1, 5691,681

2.4

19.9718.746.67

205. 4549.647.83

8,4695,367

2,576

4780.64 145.44 166. 7

' 3, 255' 2, 778

1,2111,211

26,42922, 639

1,4285.7

96.9267.91

6,5425,0045,9484,8313,281

24, 39513, 52012, 5092,314

4,567

3,007

195.02,847122.8

951.1892.3757.8712.0193.3180.2

884756129

12.210.81.5

1,5911,691

1.9

37.9532. 869.98

227.0467.5313.329,6206,353

1,844

4 791. 04128.6* 153. 9

4,7014,1441,5341,534

23,11319,880

1,4275.7

97.0067.98

211.13,480126.3

988.3943.1793.5758.6194.8184.6

1,051934117

11.310.01.4

1,4811,660

2.0

29.7327.027.71

194.6572.3516.18

10,5987,315

1,483

4 922. 34 115. 94 183. i

4,8654,5697,4736,873

25, 86322, 426

1,4265.6

97.1568.13

247.83,822112.4

963.3917.0773.5736.6189.8180.4

962848114

10.99.41.5

1,4461,595

2.0

32.0429.397.53

215. 3077.8121.339,6526,483

1,833

4934.74103.74193.9

4,1594,0463,5183,418

25, 21321,789

1,4265.7

97. 2268. 19

5,4293,7824,5495,2463,305

24, 57913, 99711, 9992,281

4,780

3,274

258.14,687195.9

786.1745.0623.4593.2162.7151.8

74164992

9.38.01.3

1,4471,590

2.4

26.6222.448.50

229.0967.7825.66

10, 7217,260

1,878

4885.0498.2

4206.8

4,8074,5513,9333,633

22, 22118,753

1,4225.6

97.1468.29

214. 93,303144.8

889.1847.2698.0666.0191. 1181.2

721610111

10.38.81.5

1,5881,521

2.1

25.1122.137.37

215. 6459.3020.149,9477,039

2,147

4685.1491.4

4 165. 0

4,2113,9653,7802,320

21, 86517, 183

1,4225.8

97.3368.44

235.13,781142.7

954.3910.0748.3716.1206.1193.9

813698115

10.48.91.5

1,6841,566

2.1

28.2225.009.99

226. 7875.75

« 21. 9511,3097,770

2,207

* 680. 0497.1

4165.7

3,5673,3272,1252,025

19, 49014, 948

1,4415.7

98.8268.56

5,5683, 8205,0384,7732,895

23,95213,66111,3992,273

4,729

2,907

382.76,188298.1

1,038.3983.4806.5765.2231.8218. 3

913772141

10.38.71.6

1,7411,578

2.2

34.5631.5910.16

258. 7781.4421.7313,0789,035

2,835

4 828. 14 122. 54 203. 1

4,5804,3513,6623,462

18, 59214,079

1,4395.8

98.8268.68

219.53,285131.7

993.9939.7779.1736. 9214.8202.8

899774125

10.69.11.5

1,7821,628

2.2

36.7433. 899,81

216. 1582.5919.29

12, 1008,078

2, 763

4 817. 24117.0« 201. 9

4,4174,1352,7122,062

16,84711,966

1,4335.8

98.5668.78

344. 54,930189.4

1, 078. 31,019.5

842. 9798.0235.3221.5

1,030888143

11.09.51.5

1, 7811,606

2.0

41.3438.7611.00

258. 7083. 2525.14

12, 8748,538

2,782

3865.83121.33 220. 1

4,7313,9033,1832, 955

15,34411,063

1,4315.9

99.0769.24

«• 289. 7'4, 316

128.2

1, 024. 8968.4804. 2761.6220.6206.8

1,025877149

10.48.91.6

1,7511,540

2.1

35. 8534.119.99

209. 7089. 7226.34

'11,7457,362

2,069

3 916. 73 126. 43229.8

4,3513,7055,9234,543

16,93611,921

1,4265.9

98.3868.97

223.73,17685.6

531.7504. 5411.9393.6119.7110. 8

904769135

11.49.81.6

1,3931,373

1.7

19.5118.398.35

153.9547.3613.06

10, 1326,746

2,322

3 812. 63 116. 13 203. 3

2, 8462,2972,9322,711

17,02712,340

1,4266.0

98.4969.09

227.03,434111.2

551.9516.0398.5371.0153. 4145. 0

812656156

11.19.31.7

1,2631,488

1.9

19.5018.048.24

170. 3535.2322.09

11,6238,251

2,875

3 864. 83 144. 13201.3

3,?892,8225,1124,975

18, 75014,493

1,4246.2

98.5669. 19

2 949. 2

2 758. 5

2190.6

878741138

11.810.21.6

1,3001,503

1.8

1,4245.9

p Revised 1 Annual total includes revisions not distributed by months. 2 Estimateof production. 3 Omits data for three States. 4 omits data for two States. * Omitsdata for one State. 8 Effective Feb. 1972, imports include trucks valued less than $1,000 each.

{Monthly revisions (1970) appear in Census report, Apparel Survey, 1970, MA-23A(70)-1.$ Total includes backlog for nonrelated products and services and basic research.

ADomestics include U.S.-type cars produced in the United States and Canada; importscover foreign-type cars and captive imports, and exclude domestics produced in Canada.

©Courtesy of R. L. Polk & Co.; republication prohibited.§ Excludes railroad-owned private refrigerator cars and private line cars.


SECTIONSGenerals

Business indicators . , . , . . . »» . , , . ' , . . . ' . , , . . ; 1-7Commodity prices. , . . , . . , . . . ; . , , . . . . . 7-9Construction and real estate.,.-..,,'...,.,.,.'.,.. 9,10Domestic trade.., . , . . . . . . . .„.. . , „ 31,12

Labor force, employment, and earnings,...... 13-16Finance. 4,.,,.., .-. *,';......v.. .Y., 16-21Foreign trade of the United States............. 21-23Transportation and communications.......... 23,24

Industry: • " * • ' • ' , ' ' . " ' • " ' * -

Chemicals and allied products.,,.. 4 , , , . ; . ; . . . . 24,25Electric power and gas...................... 25,26Food and kindred products; tohaced.......... 26-30Leather and products.. *\-,, ? « , Y * . . . . . . , . . , , , , 30

Lumber and products. .. 4 . . . . , , . , i . . . . . . . . . . 31Metals and manufactures..... * « . , : . , . , ^ . . . . . . 31-34Petroleum, coal, and products. *.,....,,..... < 34~36Pulp, paper, and paper products..........:/.;;... 36,37

Rubber and rubber products... ,.Y,.. ;•; . . . . , 37Stone, clay, and glass products. , . . . . . . . , ; , . , 38Textile products. . . . . . . . ; . ._ , ' . ;; . . . . i , , . , - V . . 38r40Transportation equipment...,., * ' , . * , ; . . V . . . . 40

, Advertising. ;v> ;,,.,.» „* .,Y>..Y, '•„;,,».'.•;... 1,. > Y;.. -11,16 .Aerospace vehicles,., Y.';. Y. > Y,.,, ;« v. , Y « ' « » , , « ' « « • » ' » » » - " ,4,40' .Agricultural loans.;...;.'. *.'.;,...-,.I.;,.;.;.. ,,,;. Y- ; '•; 1$ '

" Air'carrier ;operations*, V. .* . , , ' . .'.'.,."> . • , , , ,„ , , ; . s. ' ,' -23 „ •Air conditioners (room)*,. .». . .> ....Y,-,,;,.Yv, >« ' . . * - 34Aircraft and parts.;,,".V.Y.-,.. ,".,r,Y,'»Y.x-.-,«-. < v'U!,6«7,'40

' . Alcohol, denatured "ajadl, ethyl*,•<,YV,«';, Y.,»<. w 1 *Y,,; v; 25

Aluminum, v * • . . - » » » ; « »'.'•«'..-..'. «Y. v-« ; . . ,+v.«. .*. •.; -. -.'.- - -• >." 33 ~': Apparel,,. ,,Y* *v, ,YY .-. .v. .-,,.Y,"Y;|,t,.4,8,:9,11-15,40 ;

, 'Asphaltand• tar products .-..-;,Y -.- ./*-*«Y,'.Y,Y. v-*'.;.;-.;.. '3$, 36,A«tomohiles,etp...t.rY 1,3-6,% 9,11,12,19,22,23,40

Balance of international paymentii;..:.;,. ,\ . . Y , » 2* 'Banking.....:.-r,Y*.. i - / ;« . '^ . , ;%. '.. *'. .s,:^^.,;.^.: 16*'17" -'^Barleyv ;•;.„- v..../....-; ;;Y; Y*Yv..',;. -'. - <;<-;.Y. .Y ,„ Y - ,27-"Battery;' shipments.'..'.,.,/;.. ,Y;»Y.<V. J^. .,,.^ .;'/;..--.-'.. • !34 :.Beef and veal.-, *>,,.v,-,.......Y.Y <Yv»'r::,Y...-.'.-.- ^ ' ; 28 ;

;, Blast furnaces, steel works, etcY'•, i- .:* -.' ,Y 1'.',; - . . « . - , , ,, Bonds, outstanding, issued, priceu, sales, yields.... 19,20

?Brasâi^hrwii<fe..;.,.:/,:.-.-. Y^,>.:i .YviY.... ;';.^;'.;•'.' >>! :' 3'"llrifsk,.,. v1.'-'.,,; ^', .VvYv;:.-/,,.;. VI;X.-.'^V..Y.Y. .-. YYY'3E;Building and construction materials... .Y..,. Y.. . 4 ^ 7 ,

;;' ! ' .";Y' Y ; Y" Y' Y- Y ^ Y Y ' . " y'--Y;r:;-9,-%flv36r38;• Building costs.. .Y'.-. Yvw;.'.-..,",'. ;.'r.Y. .V;'.Y;^.'.,:...>Y;;..,Y/ -',10,,:

Building permits... ;-;>Vi, T.Y-. *',...\ ;,;».V^YY^V.::--;; '• 10-Business incorporations (new), failures. . . . . . . . . . 7

'.'Business sales and inv«nl^ries.-.-,!':*'Vv.-.- .-.-.Y--.';'.%-.. Y'' ;; -^:% •- Butter..; *;,Y .i -./, i-. .Y ;Y; ,h;;Y..',! vY'.Y,.,'. > Y ; Y ;26\

' ; Cattle 'an . . . . , . . . -• Cement and concrete products. .. ;.;« , , ..;-; : , '•;*. -'9,10, 3' ' - ' ' ', * . . .. * , .

Chain-store sales, firms with 11 or inor^s«(>3reB;.'->t( -'' ' 12,=• ' ' '

, » , . . ., Cigartettes ,and 'cigars.'. *; i*

^. , . , , . , , .i^ atmosphere, hea

' '

^. -. , . - ... : ,. ^' . - ; ; ' Employment, un employ men t, hours, ,carni|*g*;Y , '13-15

• , ';. Fi ed investment, , structures .- W. . V ii ' .'•. ;. v-i .-; . Y : • .' - - 1• • Highways and 'roads:. ; ';';-; i' * t;. /-. . U, . /;'-. A :> ; '; .9 10 -'• • ,' Housing stftrts.-v .Y'.-/, ,\^ .,'. ; ,-,, -. ,/^ .'• , <»• .- . V .. .' Yv ;.Y' " Yl0,:'., Materials output indexes. ;,'. /;;.-. .'. < :,«>. <-." .-«/. ,,.Y'.:' '10 ''' ; ' H^ construction ptit fn plimse.'«v.^ . .'.-.-. Y;:. .'.,. : ; ' ':9 -• Consumer credit. .-./.';;.,.^v. .,.-,„ .'/, ,:.;i,, , .-, ,• ;- s ,, ',' 17, 18' .

Consumer expendiijtur^s.Y.Y-v'k*-. •'» *Y.'.Y''.^;i.;".>;irV,.i;':l, ;Consumer goods output, indeit I * , ,......,;.,.*. 3E, 4 :Consumer price index. . .\YvY; '"'*-\:,Y-.:. » ' /> . -•' v.V- • " • ' ' • 0 -

, Copper.. ,;'...;,.. /^Y, „, ... . ;. ; ;-.-;'v^YV,'. .Y. . ; > - ' ' 33', . ; . . -. . . .> . . ... , . . . . ; ,

Cost of living (see Consumer piriee index) . , V ..,,., 8Cotton, raw and nianafactttres,; ........ 7,9,22*38,39Cottonseed cake and meal and oil; ; *Y, » , ,^ . , Y, . 30Credit, short- and interntediate-term, . . . : . ;•..„ , /Y 17Y18

, Crops ;.,;,,:, v . =i ; ; ,. ;Y :• / , ;• -; . .• .--; , . Y. •; . "3, 7, 27^30; 38 -•• cpde oa. , ,;,Y; ; ;. ;. . . . ;v>; »• , . : ; ;.;,• ;;•;-,::;/;•„ ,'.; ,< 4, ss' Currency in circulation. <\i .,. »-. ;\ , * ;-; . .^v.^-; ;•; ; .;/ ;"\19

rBairy products, . ,Y ; ., ;1 ;:.,. v'Y:Yi. ; ,; ?'/.. ; . . / 3,7, 8^ 26, 27Dehits*,banka'/:. ;-,. . .Y-; .;:... ;;.; ...,.;;.; ;': -;' ;-, • 16 •

, Debt,- U,S« Government'^ .,-;,> .-.'•:, -;Y . t , •;' v ;.,.;. v'-i ;• , . 18' -Department stores. ; . , „ » , , \ ; ; '. - . ; . , , , . ; , ... ,Y . II, 12Deposits* bank. Y. . .. ; . . V, f , , , , r, . . . . 1 /, . , . 16,17, 19Dishwashers . . , ; , vivt ..... '; >„','. ;„. ' ;- * .>. .».'.. ..„. .Y.,? , ; 34Disputes, industrial, •,.;.: v-; ,Y.-.''. v^.Yv;', .'.. . i'. ; .7 16

, Distilled spirits. » ; > ,=Y. . '. . v ; ,- ; ;YV ____ ". • C . '. , ;• '; , . : ,< -;26Dividend payments, rates, aid yields. . , ... . 2, 3, 19-21

• Drug stores,,, sales.> .:". . '.- x;, ;• .;-.',' » .> ;".',"« *,; ; .>. >\f\ .'Ml, 12

Earnings, weekly and hourly, . . . . . . . . . . . . . . . . . . 15Eating and drinking places. . . . . . . . . . . . . . . . . . . . 11, 12Eggs and poultry ..... ---- ... ..... ..,,,, 3,7,8, 28,29Electric power. , . , ____ , . . . . . , ____ . . . . . . . . 4,8,25,26Electrical machinery and equipment . . ---- . . . . . . 4-7,

9,13-15,19,22,23,34Electronic components. . . . . . . . . . . . , . . . . . , , , » . . . . . 34Employment estimates. . . . , , . . . . . , . . . . . . . . . . . 13, 14Expenditures, U,S. Government ...... . . , , , ..... 18Explosives................................... 25Exports (see also individual commodities}. . . . 1, 2, 21-23

Failures, industrial and commercial . . . . . . . . . . . . . 7Farm income, marketings, and prices, . . . . . . . . . 2, 3, 7, 8Farm wages. * , , . , . » . * . ..... . . , . ... . .... . . ..... 15Fats and oils,., .,..........,,, , » , * , . » 8,22,23,29,30Federal Government finance , . . . « . . . . . . , . . . * . . . 18Federal Reserve hanks, condition of ..... . . . . . . . . 16Federal Reserve member hanks. . . . . . . . . . . . . . . . . 17Fertilizers. . ; . Y. . . . i . . ..... . . . .. . . . . . . . . . . . . . 8,25Fire losses. . .,*................ ..... ......... 10Fish oils and fish. . Y. , , . . . . . . . , , , , < , , . . . . . ; . , , 29Flooring, hardwood, . i . . . . . . . . . . . . . . . . . . . . . . . . 31Flour, wheat, ,-;.;. . . » , » , . , . » . ; , , , , . « . . . . , . . ; . 28Food products, ,Y . . , . . . . 1,4-3* 11-15, 19, 22, 23, 26--S0Foreclosures, real estate. . . . . . » , . , ; , . . . . ... , , . . 10Foreign trade {see also individual commod.) . . . . . 21-23

- Foundry equipment. . , , • ; , ',,, ; . . . . . ; . , ; ;,, .^.; . . * ; 34Freight cars (equipment) . . » ; . . . , , . . . . . . . , . . . . , 40

- Fruits 'and' vegetables . * ,- V ,; •, . ,' . V . .• ;.„ < .„. . * . , . . . , 7, 8Fueloil; . . ; . . . . . , , ; . , , . , . a,.*.,-, . , . , . . . . , v » . . 35,36

:^FiieI».v »:;:•;; .-v. ;;:. . . . .". . .--; ,-.\V; . ,;,,-<8,22,J3, 34^36," Furnaces. ; /,. '..; . */.-. .' »".' . ; % * . » ; , « '.-,« , . - . . . . .-. .'. *• •,' •- .-34 -

Furniture. « , ;, , , ^.-^ .,„.;;,, >\ ,.,;. < . . . . * . ,,v . ,4,8, H-15 '

Gas, output, prices, sales, revenues/. .'. . . . . * . . . 4,8,26.Gasoline;. vv:,;.v=.Yv,. .v .;>.....,,. ..:. . .\:.,,w' 1+3$ •Glass and products* . % , . . . . . ..... - , . . * ; . , > ----- . 38' ' • ' •

National defense expenditures.«....,,,». Y. . * , , * 1,18National income and product , . . . . . . . , , . . . , . . . . 1,2National parks, v is i ts . . . . . . . . . . . , . . . . . . ; . . , . . , 24Newsprint,....... 23,37New York Stock Exchange, selected data........ 20,21Nonferrous metals..,...,»».. ,. 4,9,19,22,23,33Noninstalknent credi t . . . . . . . . . , . , , , . , , . . . . . , . , 18

O a t s , , . . . , . , . . , , . . , . , , , , ; » . . ; . . . , . . . . . . . . . . . 27Oils and fats . . . . . . . . . , . . . . , , , , , , 8,22,23,29^ 30Orders, new and unfilled, manufactures*......... 6,7Ordnance.. , . . , , . . . . . . . . . . . , , . . ' . . . , . . . , , 13-15

Paint and paint materials,,,... YY.......... -.-I.. 8,25Paper and products and pulp. * . . Yv.. * » . » . . . . " . , 4-6*

9,13-15 19,23,36r 37.Parity ratio.,.. „.....>•,-,......-.;......'...,....'' 7 'Passenger cars.»v*,,.,.,.,.; t»$-6*8,0,11,1^ 10>22,23,4»Passports issued,...... ................ 24Personal consumption expenditures.... . . . . . . . , . . 1Persona! income. < , . , , . . . . . . . . . * . , . . * 2,3Personal out lays ,» , . . , ,* . . . . . . . , . . . , . v . . . . 2Petroleum and products.,,.. ; • ; . . . . . . , . _ . . . . , , 4--6,

8,il-lS, 10,22,23, 35,36Pig iron. ,-„ , -^ , . , , . , . ,,v. .>..'... ,'.v;...,,.,. ,-.,,',--3l,;32'Plant and equipment expenditures... . . . . . . . . . . . 2Plastic* and resin materials,..,.......,. , . . . . . , 2$Population...,,,...-, v.... ,Y,-,; v.'; -...-.- ,-.Y.-...,-.-; •'•' 1'3''Pork,,;,-,, *''..:,.;;,•:,'.,,,.,., ,v';•;.Y;V*i. ti. Y. ,'v^:* • "28'^Poultry and egg*. *;.;."-,:, i .• .•'.';,. •;,;',; ,:.Y ,\ '»V S,7,,8,.28*29 *Pricey (see also individual commodities).,;,.. 4., 7-9

' Printing and publishing..;, .,';;.„; f,.-,.,>-.;V.;,;'.'. Y. . - . 4,;13-15 ,'Private sector employment, hours, earnings..,,. * 13-15

-Proîxir|iorate,\Y,-.^;.;Y,";Y^;.%'. ;>.Yv,»';•.'*«-, -. '2,-19• I^|kj«ttillli««^YK'^,'^..',»,,VxY' ' "" "'' i*uip and .pwlpwood, u i; - i- v'... ; •»» , 'Purchasing power of the dollar. ..

. . . , . , . ,Grains aiid products.- ...... ,.;.... ., ; , 7,8,22,27,28grocery st»tes.^ ..•.;, ;.,-;,.rf . . . .> .\ t ; ; ; *-,-« * ,, ; « « 11,12 ;

s 'Gross national 'product. ; '; -.. -. '.- . ** > . . » Y, U'» , . , , .,« , '-'-' '1 ' -Gross private domestic investment. . . . . ' . . . . . . . .;'. : 1

" 'Gypsum ;and-t>roducts«<. .-', ;- .. , ; Y,,."., i *• ,•» • •- --^,- i « » 38;,;

• - Hardware' stores. ., ., ,..'...*; % ,.:.;...-. .'• . -.".'...'..'*. Y/ - •. - , 11 " -Heating equipment. . .-.,,;.;-. >. . ; '. !;;. . v. .,. . , ;-. * . Y \9,;34;

, ISdbs atid skins,- i;,>Y.w:* .Y' . ..-.'.. .v *x.. i, v>'Y,v . . • 9,;30";•* .Highways and roads;. V/A:,;* '* v .;; , ,-i .". , -. '.' . I :. v-."., . • '9,' I'O .;- ' " ' '

,- Ranges. ,-' Rayon and acetate ;, Y. Vv.v ,Y' Real estate , .!','.". v.-;' ,- v . ; . 1' .Receipts, U.S. Government .'

i - ' * ;•>' J iYY Y y4; 11, 34 '.<W5 f 16,20, 21, 24,40

" ( ' ' . -3^ '•18'-

"18" :'8

....-. . ». .Registration (n«w vehicles) .

• Rent (housing). .-.YY;.;^,, ; ,40

. . . , . . ^ « , . .Home electronic equipment ; , ';« .'' .-, .. ,', ;1 .- 1 ,, ,» . , ", .'.;-. Y •$ ' . • •

" Home Loan banks, outstanding advances. . . . . . . . •; ' ; 10 : -' ^ - ' v " . '.''. ,-.,.,V i'.-,. . . .-. Y. V-, .. .' .--. . .- .'• Y 10'"-'

. . . ,and siding, asphalt. ;,'.;,.; ,',; /;and products (inck plastics) *' ' • *

36; ..

Hours, i . . „ , . ,Housefurnishings. » » , ' //,;/.;._..-•;'w,;.•>.,,',,!./.y;Yv; l,'4f8»,ll* J2,Household appliances, radios, and television sets. 4,

, Housing starts and permits... . . . .<•*..->.'.., ;-,,V»,yv ---•'; 10:!

Imports (see also individual commodities)... 1,2,22,23Income, personal. .>/.,-,.,,. .Y i,.;,.Y,,=v,..,:, ,,',;;j , . ..'.;.;'= '.2,'3>

" Saying,,; Savings deposits.

'

- ' 2 '/ 17;,

20,21\:'. . .-'Shoes and ;other -footwear;;

- '

. ^ ,Industria) production indexes:

' ', , . . . . .:- - By market grouping; . , . ,.'.Y,YY.Y ..vY'.-»:; 1 ,-V-«,' .*-' ' ;3,4 •

:- Installment.credit, y . ;> ; . v ;. •' . . < i .Y,,',Y - / - ; 124M8 '•Instruments and related products . . f „ . . \- j 4H6, ISrl' '

- . . . . .-.:; . iVwY. -' ,11* 12, 30,':H:,;^.,y;,^ -,19."

*-.-«' .-' *.'. .- » '-- •« — ' . ' - . » ' 30, , , . ^ Y .Y^.... ;-; . ;.»•; ;- •-'' ,39;';

Steel Craw)rands^ Manufactures .,i ... ,22,23,31,32• Steel scrap, v, •: , ,;;;:;,. ;;-. .Y,-:.YlY.>'v*;;V:v, > v *. ,Y; ,, Stock market customer financing. 4 ,. ,', ;.-; ,. ",,,. ,•; . ..»,.; ; . . yw.-'-

Stock prices, earnings, sales, etc, Y";V..^.,U . , - . . , . - 20,21--" ' -«iass products. ;:;'v :,;, '* ' ' '

', r a n c ! ? , - ' . v , » v r , , , . . * .-,• .: Interest 'and ,«toney,rales^ vi'ilU , *".' <-\;*''; 1 nv en tories, manufacturers' ';and,trad* ;Inventory -sales ratiosYv, *'. *'; :, Y »";' ' '

« , ,'6, 11, ,I3(

'

•. ' Ijahi>r .a'dyertlf ing index,' st5>jppiifes, turnover. ; •«. *;' , ,:- ^hw'jferce-.>v,.-. , ''. ,','l-U i''h'.. >>> V,' , .v»Y/, ; . iw/--Lainh and mutton. ;Y.Y '; « V. V-. .' . ..,' .;,.-.»=' .- , . . ,',. .•. .;. '-

' '. .. .;. v-.:'./. .v.-.',.,;, . ,-„. .".',;.;vU'..i :Y! ; 33"

t,eather and products ; . . . . . ;. . . . .»...;. 4, 9, 13-15, 30' ' i .Y;-..'V.-vY;.. ,,vY. v/^ *, ..,.,; .-.-.^. ;. 18V19' ''

.. .. ., ..,.. „ „ . .: ^ .;.Y.,HV •' -;: ;|4 ,-

';.TMev!si0n-and radio; . Ya - i .'.^ . ;;' ;/, ;Y .;,'.-^v ;4,ll,-34'YTextiles and products. , . » 4^6, 9, 13-15, 19V2^ 23, 38-40

;,rPittv; : ..V. . ;•;'':.;*..;•: . , ,. »^Y;'< .-1 .•••;;-'•, .'v/iv'-.Y/^- *•"- S5:' Tires and inner tubes. . >, i ; ;.'4 ;-. .'^'>'i1. i V U' 9, 11,12, 37Tobacco and manufactures. . . . . . ; =4-7, 9*1 1, 13-1% 30

' ' 34 :., ... , . , . , , , , »*-f rkde (retail and wholesale). ;-, ; ; , , Y, , , ; ;;, Y > 5, 1,STransit lines, local;;, . ,Y; •('-. ;vv.vi ;' ,.:;Y.Y,'. ;>'..S-;--.t "3»-"

^ ,.,./,;,.;,;_;;.. ,;^;,+...;,./.;.uv. „, Y3v7,'8?|8';: Loans,'; real estate, agricultural, bank, brokers* • ; , ' , ' : - ,A ' , - x -

r (see also Goniiumer credit)....Y..,.. 10,1 , 17 18,20:;'I,ub|fcants.',>-'.;.',.-'.-.Y''<••'••. *»,? ^ .'i'..'».;'..»>'. »'rY\ .'.,.;. 3$,'36 ,Lumber and products,..... ;.;,.; , » , , 4,9,10-43,19, 31

. v.\ ;-.,. . • '. .Yv. . ; . Y . . :-; ,:Y. - :.. .-a4:.Machinery, ....... ... . . , . .% 4-7, 9, 13-15, 19, 2?, 23, 34Mail orêr houses, sales . '; . ,, ; , . . .... . , .,,.., . , . 11IVFan^hdurs, aggregate, arid indexes . , , , . « , . .... . 14,15Manmade fibers and manufactures. . . -*.-. . . . „ - . < ; ; . „ / 9, §9Manufacturers' sales (or shipments), inventories,

'"'; '' orders.. . ;,. , .'', ,-•••, . .-v.-.'i v ^ ' » - * • • »'?'/»-. /,'.;,„, Y,5. ';.-."'• 5- 7 VManufacturing employment, unemployment, pro*

duction workers, hours, man-hours, earnings.. . 13-15Manufacturing production indexes. ...... ___ , . . Y 3,4

, Margarine. .:Y^ .;,; , ;>"/. . ; ;-; ...-...,-.'..-. .-J. V, »- . ' , , 29;-Mât animals and meats. ~ , . . . . . _ . . . 3, 7, 8, 22, 23, 28Medical and personal eare< . . . * . . . . ---- . . * >•;, . , * 8Metals. . . ;Y; , . . .1 : ..... ,;. . . . 4-7,9,19,22, 3, 31-33

'Milk. ,...;,..'.;.;;,;,,, ..', .v-.,.'.... ;.. ;'. .v. .... • - 27 "Mining and minelrais. . . ^ .......... . % . 2-4, 9, 13-15, 19Monetary statistics. . , ,•', . . . . . ,; . , . . . ..... ... * . , 19Money suppfy. ... . ; .... . . . » ... ".Y . . , . * ... . ... ; „ " 19Mortgage applications, loans, rates. .. <'.... 10,16,17,18

."Motor! carriers.*. .-.,;,. ... ;» :,.- ....-, . '....„....,. . * 23, 24Motor yebicles, ........ . . .1, 4-6^ 8, 9, 11, 19, 22, 23, 40Motors and generators. . ...... , . . . , . . . . . ,*. . . . 34

Unemployment and insurance: *'; \'.\.-'.... /.;U.S. Government hondsY.. v'.Y>;>-.-. '.V .;„:-.,,';, . ,

- lJ,S,;'Govcrnmeiit finance...»'»'«,...;.;.;,-'; Y,..'.-/.-..-.'.;" 18 •/Utilities. .:.Y.:v..:,.,, ,;.Y^Y.,. ,.Y; 2-4,9,19-21,25,26

Tacuum cleanersV.. V..:;-'.,,;. /»..-;.,-.-,Y;...-..,.. f.'- • .'J4\\-'Variety'"Stores.. Y;Y.\ .--,-...;.,,. >- . . . -« , -* -V;y .«- :ll»J2;V*fge«ahle oils,.,;... .Y... :/.,.,.; /.,Y;-..; „, i'.-• 23,29,30Vegetables and fruits,. . . . . . . , . , , ; . , . . . ,-. . . , . . ™* j»

. -Veterans* benefits,,»;;. \'.»„.'...,> i ; . » r -.-.;.; .\;,:.-.;.' \ *»_:

Wages and salaries. .^ , . . ; 'V . . . . .» . ; ' . . . . . ',.;.., 2,3,15Washers and dryers.,..... , ; , . . ; , . , « , . . . . . * . . 34Water heaters.....Y ... . . . . . . . . . ' .-.-*-... . . . . . . . , |4Wheat and wheat ftour*., V. I , . . . . , , ; . . . . . , . . .» 27^2»Wholesale price indexes i , . . ; . . . » . . . . .> ...... » 4

1*Wholesale trade, i . , Y. Y..; . . . * Y . . . . . . . 5,7,1Wood' pulpv',.', i.vv* i..?;.,.... •>".. - ., - i' .'-*' : > " • *Wool and wool manufactures,,,...,. . * . . , . . . . . .

Zinc. 33


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