SCB_101978

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

OCTOBER 1978 / VOLUME 58 NUMBER 10SURVEY OF CURRENT BUSINESS

CONTENTS

THE BUSINESS SITUATION 1

Motor Vehicle Sales 8

National Income and Product Tables 11

Key Source Data and Projections forNational Income and Product Estimates:

Third Quarter 1978 20

State Personal Income, 1978:1-1978: II 24

Regional Differences in Personal Income Growth,1929-77 27

State Personal Income, 1975-77 31

Capital Expenditures by Majority-OwnedForeign Affiliates of U.S. Companies,

1978 and 1979 42

Summary National Income and Product Series, 1929-77 54

Revised Manufacturing and Trade Sales, 1977-78 56

CURRENT BUSINESS STATISTICS

General S1-S25

Industry S25-S40

Subject Index (Inside Back Caver)

U.S. Department of CommerceJuanita M. Kreps / Secretary

Courtenay M. Slater / Chief Economistfor the Department of Commerce

Bureau of Economic Analysis

George Jaszi / Director

Allan H. Young / Deputy, Director

Carol S. Carson / Editor-in-Chief,Survey of Current Business

Manuscript Editor: Danneiet A. GrosvenorStatistics Editor: Leo V* Barry, Jr.Graphics Editor: Billy Jo Hurley

Staff Contributors to This Issue: Kenneth P. Beckman,Leo M. Bernstein, Robert B. Bretzfelder, Douglas R.Fox, Howard L. Friedenberg, Linnea Hazen, L. A.Lupo, Elizabeth H. Queen, Teresa L. Weadock

SURVEY OF CURRENT BUSINESS. Published monthly bythe Bureau of Economic Analysis of the U.S. Departmentof Commerce, Editorial correspondence should be ad-dressed to the Editor-in-Chief, Survey of Current Busi-ness, Bureau of Economic Analysis, U.S. Department ofCommerce, Washington, D.C. 20230.

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OHIO, Cincinnati 45202550 Main St. 684-2944

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TENN., Memphis 38103147 Jefferson Ave. 521-3213

TEX., Dallas 752421100 Commerce St. 749-1515

TEX., Houston 77002515 Rusk St. 226-4231

UTAH, Salt Lake City 84138125 South State St. 524-5116

VA., Richmond 232408010 Federal Bldg. 782-2246

WASH., Seattle 98109Rm. 706 Lake Union Bldg. 442-5615

W. VA., Charleston 25301500 Quarrier St. 343-6181

WIS., Milwaukee 53202517 E. Wisconsin Ave. 291-3473

WYO., Cheyenne 820012120 Capitol Ave. 778-2220


the BUSINESS SITUATION

CHART 1

Real Product-Change from Preceding Quarter

Billion (1972)$

-10

30

20

10

0

-10

30

20

10

0

-10

20

10

0

-10

10

0

-10

CHANGE IN BUSINESS INVENTORIES

PERSONAL CONSUMPTION EXPENDITURES

luluFIXED INVESTMENT

• • • •Residential

II.«^ P ^ ^ ^m

NET EXPORTS

0 •• ~ _ I1

0 [-MT«"r

-101976 ' 1977 ' 1978Seasonally Adjusted at Annual Rates

'.S. Department of Commerce, Bureau of Economic Analysis 7810-1

CAL GNP increased at an annualrate of 3% percent in the third quarter,compared with 8% percent in the second(table 1). The increase in GNP prices,as measured by the fixed-weightedprice index, decelerated to 7 percentfrom 11 percent. The key source dataand projections on which these esti-mates are based are detailed in anarticle later in this issue of the SURVEY.Their publication implements one ofthe recommendations of the AdvisoryCommittee on Gross National ProductData Improvement.

Personal consumption expenditures(PCE), which had increased 6 percent(annual rate) in the second quarter,increased 3% percent in the third;fixed investment, which had increased15% percent, declined K percent; inven-tory accumulation, which had shownlittle change, declined; and net exports,which had increased sharply, increasedlittle. Government purchases was theonly component that strengthened inthe third quarter. As can be seen fromchart 1, the conventional demandcomponents differed widely in their

contributions to the deceleration ofGNP.

The major factors that underlie thedeceleration of GNP in the third quar-ter—the aftermath of the first-quartersevere weather and the coal strike, and adownswing in motor vehicle productionfrom the second quarter to the third—cut across the conventional demandcomponents. These factors emerge moreclearly if GNP is broken down as intable 2. The weather and the strikemainly affected construction—nonresi-dential, residential, and State andlocal—and inventory investment. Itcan be seen from the table that, if GNPis adjusted for the effects of the weatherand the strike, it increased about 3%percent instead of 8% percent in thesecond quarter, and about 4 percentinstead of 3% percent in the third. Theadjusted third-quarter increase ex-ceeded the actual increase because themakeup from the severe weather andthe coal strike was smaller in the thirdquarter than in the second, and there-fore contributed negatively to thechange.

Senior Economists, Current Business Analysis Division

BE A invites applications for senior-level economist positions (GS-15, $38,160—$47,500;GS-14, $32,442—$42,171; and GS-13, $27,453—$35,688) in the Current Business AnalysisDivision.

This Division is responsible for the SUEVEY OF CURRENT BUSINESS, and does researchon the economic situation and outlook, and related topics.

Applicants must have the expertise necessary to do advanced research of a policy-oriented type in some of the following fields: business cycles, employment, fiscal policy,money and finance, prices, wage-cost-productivity, and strategic industries such as auto-mobiles and construction. Generally, the results of this research are for publication in theSURVEY, and, accordingly, applicants must have writing skill.

Interested persons should write to Carol S. Carson, Chief, Current Business AnalysisDivision, Bureau of Economic Analysis, U.S. Department of Commerce, Washington,D.C. 20230. Applications should include, if possible, a completed Standard Form 171—the Civil Service Commission's "Personal Qualifications Statement."


SURVEY OF CURRENT BUSINESS October 1978

Further, if motor vehicle output (ad-justed for the weather)—which mainlyaffects PCE, producers' durable equip-ment, and change in business inven-tories—is set aside, GNP would haveaccelerated even more—from 3 percent(annual rate) to 5% percent. It is usefulto calculate yet another measure of ad-justed output—that of the nonfarmbusiness economy. Adjusted output inthis sector of the economy acceleratedfrom 4 percent to 5% percent. Thethird-quarter estimate is particularlytentative and subject to large revisions,

because—pending the availability ofestimates of third-quarter corporateprofits—it is based on the assumptionthat the third-quarter residual (theconstant-dollar equivalent of the statis-tical discrepancy) was at the second-quarter level.

Prices.—GNP prices, whether meas-ured by the implicit price deflator, thechain price index, or the fixed-weightedprice index, decelerated from about 11percent (annual rate) in the secondquarter to about 7 percent in the third.

Table 1.—Gross National Product in Current and Constant Dollars[Seasonally adjusted at annual rates]

Gross national product

Final sales

Change in business inven-tories _. .

Less: Rest-of-the-worldproduct

Equals: Gross domesticproduct

Current dollars Constant (1972) dollars

Billions of dollars

1977

IV

1,958.1

1,945.0

13.1

15.9.

1,942.2

1978

I

1,992.0

1, 975.3

16.7

18.2

1,973.8

II

2,087.5

2,067.4

20.1

21.1

2,066.5

III

2,141.1

2,123.4

17.6

21.2

2,119.9

1977

IV

1,354.5

1, 347.1

7.5

6.6

1,347.9

1978

I

1,354.2

1, 341.8

12.3

7.5

1,346.6

II

1,382.6

1,369. 9

12.7

8.8

1,373.9

III

1,394.3

1,383.5

10.7

8.6

1,394.3

Percent change frompreceding quarter

(annual rate)

1978

I

- 0 . 1

- 1 . 6

64.1

—.4

II

8.7

8.6

85.3

8.3

III

3.4

4.0

- 9 . 0

3.5

Table 2.—An Alternative Breakdown of Real GNP[Seasonally adjusted at annual rates]

GNP.

Less: Effects of severe weatherand coal strike1

GNP less effects of severeweather and coaI strike

Less: Motor vehicle outputLess: Effects of severe

weather1

GNP less effects of severeweather, coal strike, andmotor vehicle output

Less: Nonbusiness G N P .F a r m G N PResidual..

Nonfarm business GNP lesseffects of severe weather, coalstrike, and motor vehicleoutput _ _

Change in business inven-tories

Final sales

Billions of 1972 dollars

Levels

1977

III IV

1,343.9 1,354.5 1,354.2 1,382.6 1,394.3

6.0 4.0

1,343.91

77.8

197.834.59.0

10.41,014.

1,354.

81.5

5 1

1,266.11,273.0 1,284.3

198.636.17.4

413.9

L, 027.

1978

-11.0

,365.2 1,

79.4

- l . o

200.732.55.5

1,024.8 1,030.9 1,045.6 1,056.3 1,071.0

01,14.8

,030.8 1,

II III

,376.

84.3

1.5

6 1,

202.730.54.3

13.5,042.

,390.3

79.8

1,293.8 1,310.5

203.032.24.3

8 111.1

,059.9

Change from precedingquarter

1977

IV

10.6

10.6

3.7

6.9

1.6-1.6

6.1

- 6 . 512.6

1978

- 0 . 3

-11.0

10.7

- 2 . 1

- 1 . 5

11.3

2.1- 3 . 6- 1 .

14.7

10.93.8

II III

28.4

17.0

11.4

4.9

3.0

9.5

2.0-2.0-1.2

10.7

- l . :12.0

11.7

-2.0

13.7

-4.5

-1.5

16.7

.31.7

0

14.7

-2.417.1

Percent change frompreceding quarter

(annual rate)

1977

IV

3.2

3.2

20.4

2.2

1.619.9

2.4

1978

I II III

-0 .1

3.2

-9.9

3.5

4.3-34.3

5.8

1.5

8.7

3.4

27.1

3.0

4.0-22.4

4.2

4.7

3.4

4.0

-19.7

5.3

24.2

5.7

6.7

1. The estimates of the effect of the weather have been revised from those shown in the July issue of the SURVEY OF CURRENTB USINESS and part of the revised estimates has been allocated to motor vehicle output.

Over one-half of the deceleration wasdue to food.

Table 3 shows the GNP fixed-weighted price index and its com-ponents. As can be seen from the table,the deceleration in the prices of finalsales was the same as in GNP prices.Prices paid by U.S. purchasers (finalsales less exports plus imports) de-celerated less—from 10 percent (annualrate) to 7% percent—because the pricesof exports, which are not included inthis aggregate, decelerated more thanthe prices of final sales, and the pricesof imports, which are included, ac-celerated. Prices of all major com-ponents of goods and services boughtby U.S. purchasers, except producers'durable equipment, increased less inthe third quarter than in the second(chart 2). Prices of producers' durableequipment increased at the same rate.Prices of PCE on food increased h}{percent in the third quarter, afterincreases of 13% and 20K percent in thefirst and second quarters. The decelera-tion was in food purchased for homeconsumption, which accounts for abouttwo-thirds of food expenditures; themajor factors were declines in meat andfresh vegetable prices. Prices of res-taurant meals and beverages continuedto increase at about the 10-percent rateregistered in the first and second quart-ers. The prices of the other componentsshown in the table increased ){ to 2percentage points less than in thesecond quarter.

Labor markets.—Labor market condi-tions showed little change in the thirdquarter. The employment-populationratio held at its second-quarter level,and the unemployment rate was up 0.1percentage point, to 6 percent. Employ-ment increased 380,000, one of thesmallest quarterly increases in the on-going expansion, and only a markedslowdown in labor force growth pre-vented a sharp rise in the unemploy-ment rate. A 425,000 increase in theestablishment measure of employmentwas much smaller than the increasesrecorded in the two preceding quarters.Weekly hours, at 35.8, were down 0.2from the second quarter.

Productivity and costs.—Reflecting es-sentially the same factors that causedthe third-quarter deceleration in real


October 1978 SUEVEY OF CUERENT BUSINESS

GNP, increases in gross product andcompensation in the business economyother than farm and housing were muchsmaller in the third quarter than in thesecond, and hours were down (table 4).Even though the deceleration in realgross product was sharp, with hoursdown, real product per hour increased3% percent (annual rate), comparedwith 2 percent in the second quarter.

CHART 2

Fixed-Weighted Price Index:Change From Preceding Quarter

0 I 1 I 1 I 1 i 1 1 I 1

25

20 -

15 -

10 -

5 -

-5

20

15

10

PERSONAL CONSUMPTION

-

Energy

ri i i

^ ^

1 Other

1 ,

EXPENDITURES

\ /

KFood

1 1 1

////

J

1

[

\\\\\

! 1

FIXED INVESTMENT

Residential

/'\ A1 1

/ Producers' Durable Equipment

Nonresidential Structures

I I I I I I I1976 1977 1978

Seasonally Adjusted at Annual Rates

U.S. Department of Commerce, Bureau of Economic Analysis 78-10-2

The increase in compensation per hour,at 9 percent, was fractionally more thanin the second quarter, and the increasein unit labor cost, at 5 percent, was 1percentage point less. The third-quarterestimates of gross product and the ratiosinto which it enters—gross product perhour and unit labor cost—are subjectto the limitations noted in connectionwith the discussion of the residual intable 2.

Personal income and its disposition

Personal income increased $45 billion(annual rate) in the third quarter,compared with $53% billion in thesecond (table 5). Setting aside transferpayments, the deceleration in personalincome was $17 billion. The increase intransfer payments in the third quarterwas unusually large—$9% billion, com-pared with $1% billion in the second. Itwas mainly due to a 6%-percent cost-of-living increase in social security benefits,which became effective in July andamounted to about $6 billion.

Wage and salary disbursements in-creased $20}£ billion, compared with$39% billion in the second quarter. Thedeceleration occurred largely in the

commodity-producing industries—m an*ufacturing, construction, and mining—and in the distributive industries. Thedeceleration was particularly large inconstruction and mining, where thesecond-quarter increases had includedstrong makeup effects from the severewinter weather and the coal strike.Makeup effects continued in the thirdquarter, but were smaller. In thedistributive industries, the decelerationwas in transportation and trade. Intransportation, it was in motor freight,where the second quarter had beenunusually strong, in part reflecting themakeup effects in the commodity-producing industries. In trade, it wasmainly in retail trade, where sales havebeen relatively flat since April.

Farm proprietors' income declined$% billion (annual rate) in the thirdquarter, after increasing $2 billion in thesecond. The shift was mainly due tocash receipts; changes in farm inven-tories and expenses were partial offsets.In the second quarter, cash receiptshad increased substantially, reflectingsharp increases in crop and livestockprices; in the third quarter, livestockprices decelerated and crop prices

Table 3.—Fixed-Weighted Price Indexes[Seasonally adjusted]


Less: Change in businessinventories

Equals: Final sales.

Less: Exports

Plus: Imports

Equals: Final sales less exportsplus imports

Personal consumption ex-penditures

FoodEnergy 1Other personal consump-

tion expenditures

Other „.Nonresidential structures _Producers' durable equip-

mentResidentialGovernment purchases

FederalState and local.

Index numbers (1972=100)

1977

139.9

139.8

178.4

195.2

141.0

138.8145.7176.8

133.3

144.8151.8

140.1152.3143.1

141.9143.9

II III IV

142.5

142.4

182.0

199.2

143.6

141.2148.8181.2

135.2

147.7154.9

142.6157.4145.6

143.3147.2

144.1

144.0

181.8

202.0

145.4

142.8149.6183.1

137.0

149.9157.4

145.6160.4147.4

144.6149.3

146.5

146.4

181.7

203.5

147.9

144.5150.9185.3

138.9

153.7160.8

148.5166.1151.0

149.6152.0

1978

149.0

148.9

185.2

209.5

150.6

147.3155.8186.8

141.2

156.2163.3

151.1168.6153.4

151.4154.9

II III

152.9

152.8

190.9

211.0

154.2

150.9163.1190.5

143.7

159.9168.1

154.0175.5156.4

153.1158.6

155.6

155.5

194.4

216.0

157.0

153.3165.4194.0

146.1

163.3172.9

157.0181.8158.9

154.4162.0

Percent change from precedingquarter (annual rats)

1977

II III IV

7.4

7.4

8.5

8.4

7.4

6.98.8

10.4

5.8

8.38.5

7.114.17.1

3.8

4.7

4.7

5.7

5.2

4.62.14.2

5.5

6.26.6

8.05.0

3.65.9

6.8

6.9

- . 4

7.1

5.03.44.8

5.6

10.5

8.414.910.2

14.77.4

1978

I II III

7.0

7.0

8.1

12.3

7.4

7.913.63.3

6.7

6.66.2

7.16.26.6

4.97.8

11.0

11.0

12.9

2.9

10.1

10.220.38.4

7.5

9.812.5

8.017.57.8

4.510.0

7.2

7.2

7.6

10.0

7.4

6.65.77.5

6.8

11.8

7.915.2

3.6

1. Gasoline and oil, fuel oil and coal, electricity, and gas.


SUEVEY OF CUEEENT BUSINESS October 1978

Table 4.—Real Gross Product, Hours, andCompensation in the Business EconomyOther Than Farm and Housing

[Percent change from preceding quarter, seasonallyadjusted at annual rates]

Real gross productHoursCompensation

Real gross product per hourCompensation per hourUnit labor cost

1978

0.74.4

16.6

- 3 . 611.715.9

II

11.99.5

18.8

2.28.56.1

III

3.4- . 48.4

3.78.95.0

declined. Deficiency payments underthe Food and Agriculture Act of 1977also contributed to the shift; theydeclined about $1 billion in the thirdquarter, after little change in the second.

Gross receipts of nonf arm proprietorsincreased much less in the third quarterthan in the second, because of thedevelopments in construction and re-tail trade just mentioned. However,expenses charged against these receiptswere about $1% billion less than in thesecond quarter, due to the propertytax reduction in California under Prop-osition 13. (See the discussion of Propo-sition 13 in last month's "BusinessSituation.") As a result, the increase innonf arm proprietors' income was alittle more than that in the secondquarter. Proposition 13 accounted foralmost all of the $2 billion increase inrental income of persons; rental incomehad declined %){ billion in the secondquarter.

Personal taxes increased about $13%billion (annual rate), compared with $12billion in the second quarter. Because ofprovisions of the Tax Reduction andSimplification Act of 1977, refunds ofindividual income taxes, which arenetted against tax payments, had ex-ceeded normal levels by $6 billion in thefirst 2 quarters of the year; in the thirdquarter, they returned to a morenormal level. However, withheld taxesincreased less than in the secondquarter, reflecting the course of wagesand salaries. Disposable personal in-come increased 9 percent, comparedwith 12% percent in the second quarter.Even though prices of PCE deceleratedin the third quarter, their decelerationwas not sufficient to offset that in dis-posable income. Consequently, the in-crease in real income in the third

quarter was less than in the second—2% percent, compared with 3% percent.Increases in real income have beenmuch smaller in 1978 than in 1977,mainly because increases in consumerprices have been much larger; quarterlyincreases in real income have averagedonly 2% percent in 1978, compared withby2 percent in 1977.

Real PCE increased 3}& percent(annual rate), compared with 6 percentin the second quarter (table 6). Thedeceleration was more than accountedfor by PCE on motor vehicles and parts(chart 3). These expenditures had in-creased 35% percent in the secondquarter, and declined 18% percent in thethird. Total unit sales of new passengercars, which include sales to business aswell as to consumers, had increased 1.2million (annual rate) in the secondquarter, to 12 million; in the thirdquarter, they declined 0.8 million, to11.2 million. The swing in the produc-tion of passenger cars was muchsmaller, because more of second- than ofthird-quarter sales had come out ofinventories. Total unit truck sales werealso down in the third quarter—thefirst substantial decline since the thirdquarter of 1977. Recent developmentsin motor vehicle sales are discussedlater in the "Business Situation."

There were large offsetting changesamong the other PCE components.

Table 5.—Personal Income

[Change from preceding period; billions of dollars at season-ally adjusted annual rates]

Personal income

Wage and salary disbursementsManufacturing _Other commodity-producingDistributive "ServicesGovernment and government en-

terprises

Proprietors' income .

Farm _

Nonfarm

Rental income of persons

Transfer payments

Other incomeLess: Personal contributions for so-

cial insurance _ 1.2

PCE on furniture and equipment and onclothing and shoes increased much lessthan in the second quarter. Possibly inresponse to the deceleration in foodprices, PCE on food turned up afterdeclining in the preceding two quarters.PCE on electricity and gas increased; ithad declined sharply in the secondquarter from its high level during thesevere winter weather.

Reflecting the changes in disposableincome and in personal outlays, inwhich PCE is the dominant element,the personal saving rate slipped to 5.1percent from the second-quarter rateof 5.3 percent. The third-quarter saving

Table 6.—Personal Consumption Expenditures in Current and Constant Dollars

[Seasonally adjusted at annual rates]


Durables

Motor vehicles andparts . . . .

Other durables _

Nondurables

FoodEnergy *Other nondurables

ServicesEnergy2

Other services

Current dollars

1977

IV

1,255.2

187.2

84.0103.2

496.9

252.661.4

182.9

571.139.3

531.9

Constant (1972) dollars

Billions of dollars

1978

I

1,276.7

183.5

84.199.4

501.4

257.764.2

179.6

591.843.3

548.5

II

1,322.9

197.8

92.5105.3

519.3

267.864.3

187.2

605.841.5

564.3

III

1,354.5

199.3

90.0109.2

529.4

272.064.8

192.6

625.843.9

581.9

1977

IV

876.6

143.0

60.982.1

338.1

167.632.5

138.0

395.622.5

373.0

1978

I

873.5

137.8

59.578.3

333.3

165.633.5

134.1

402.424.6

377.8

II

886.3

145.8

64.281.6

336.3

164.733.5

138.0

404.222.5

381.7

III

893.7

144.6

61.083.7

339.2

164.933.5

140.8

409.823.3

386.5

Percent changefrom preceding quarter

(annual rate)

1978

I

-1 .4

-13.7

- 8 . 7-17.2

- 5 . 5

- 4 . 613.0

-10.7

7.041.35.2

II

6.0

25.2

35.717.6

3.6

- 2 . 2- . 112.1

1.9-29.5

4.2

III

3.4

- 3 . 1

-18.710.7

3.5

.5- . 18.1

5.714.45.2

1. Gasoline and oil, and fuel oil and coal.2. Electricity and gas.


October 1978 SUEVEY OF CURRENT BUSINESS

rate was about 0.2 percentage pointhigher than it would have beeen in theabsence of Proposition 13.

Investment

Real nonresidential fixed investmentwas unchanged in the third quarterafter a large increase—21% percent(annual rate)—in the second (table 7).The second-quarter increase had re-flected a substantial makeup in struc-tures from the effects of the severeweather and a large increase in themotor vehicle component of producers'durable equipment. In the third quar-ter, the makeup effects were smallerand motor vehicles declined. Combined,nonresidential structures adjusted forweather effects and producers' durableequipment other than motor vehicles,have increased strongly over the last 8quarters—by about 12 percent. Theformer accelerated substantially overthe last 4 quarters and the latterdecelerated.

Real residential investment held atabout the same level as in the preceding3 quarters. Over this period, multi-family construction strengthened, off-setting a weakening in single-familyconstruction. The severe weather de-pressed construction in the first quarterand raised it in the second and third. Itis difficult to adjust for the weathereffects; it would appear, however, thatadjusted residential constructionreached a peak in the first quarter,dropped in the second, and slipped alittle further in the third. Similar un-evenness in the rates of decline haveoccurred in previous periods in whichresidential construction was at or neara turning point. Apart from statisticalshortcomings, residential constructionreflects the unevenness of the impact offinancial, legal, regulatory, and otherfactors that influence the decision toinvest in residences.

So far, residential construction hasbeen resistant to higher interest rates.The desirability of residences as a formof investment—because they have pro-vided better protection against infla-tion than have most financial assets—appears to have offset the impact ofnear-record mortgage interest rates. Theavailability of funds for mortgages wassupported by several developments inrecent quarters. Among them were high

CHART 3

Real Personal Consumption Expenditures: Change From Preceding QuarterPercent

30

20

10

-10

FIRST QUARTER 1978

TOTAL

Percent30

20

40

30

20

10

0

-10

-20

-

-

iliiii1-

1

SECOND

1 1 1 !

10

-10

-20

THIRD QUARTER 1978

I J_ I _L

-20

10

-20

o IOO oPercent Distribution

Seasonally Adjusted at Annual Rates^Gasoline and oil, fuel oil and coal, electricity, and gas.Note.—The area of the bar of each component is approximately proportionate to that component's contribution to the percentage change in total PCE.

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

100


6 SURVEY OF CURRENT BUSINESS October 1978

levels of commitments to purchasemortgagees in the secondary market bythe Federal National Mortgage Associ-ation and the Federal Home LoanMortgage Corportation, record amountsof advances to thrift institutions by the

Federal Home Loan Bank Board, andthe issuance by thrifts of two new kindsof high-yield saving certificates. How-ever, the advances and the high-yieldcertificates cannot be counted on toprovide continuing support—the latter

Table 7.—Fixed Investment in Current and Constant Dollars[Seasonally adjusted at annual ratesl

Fixed investment

NonresidentialStructures. .

Producers' durableequipment

Autos, trucks, andbuses .

Other

Residential . _

Current dollars Constant (1972) dollars

Billions of dollars

1977

IV

300.5

200.367.4

132.8

38.094.8

100.2

1978

I

306.0

205.668.5

137.1

39.797.4

100.3

II

325.3

220.176.6

143.5

44.499.1

105.3

III

334.1

225.479.5

145.9

42.2103.7

108.8

1977

IV

192.8

132.541.0

91.5

27.364.2

60.3

1978

I

193.4

133.841.0

92.9

27.965.0

59.5

II

200.4

140.544.6

95.9

30.665.3

59.9

III

200.1

140.445.0

95.4

28.566.9

59.7


(annual rate)

1978

I

1.2

4.2- . 3

6.2

9.05.0

- 5 . 2

II

15.3

21.340.3

13.6

44.51.9

2.7

III

- 0 . 6

- . 23.9

- 2 . 0

-25.010.5

- 1 . 5

Table 8.—Net Exports of Goods and Services in Current and Constant Dollars[Seasonally adjusted at annual rates]

Net exports of goods andservices.

ExportsM erchandise

Agricultural- _Nonagricultural

OtherImports

M erchandisePetroleumNonpetroleum

Other

Current dollars

1977

IV

-23.2172.1117 822.795.254.2

195.2158.543.0

115.536.7


Billions of dollars

1978

I

-24.1181.7122.726.196.659.0

205.8167.539.7

127.838.3

II

- 5 . 5205.4140.332.0

108.365.1

210.9171.542.0

129.539.4

III

- 6 . 5210.9145.231.8

113.465.7

217.3177.243.4

133.840.1

1977

IV

3.196.066.5

29.592.971.7

21.2

1978

I

2.999.167.7

31.596.274.5

21.7

II

11.3108.474.5

34.097.175.3

21.9

III

12.0109.575.9

33.697.575.7

21.9


(annual rate)

1978

I

13.77.1

29.715.216.6

16.8

II

43.346.8

35.83.74.2

2.3

III

3.87.8

- 4 . 51.72.1

.2

Table 9.—-Government Purchases of Goods and Services in Current and Constant Dollars[Seasonally adjusted at annual rates]

Government purchases ofgoods and services

Federal. _National defenseNondefense _

State and local _

Current dollars

1977

IV

412.5

152.297.155.1

260.3

]


Billions of dollars

1978

I

416.7

151.597.953.6

265.2

II

424.7

147.298.648.6

277.6

III

441.3

156.1100.255.9

285.2

1977

IV

274.5

103.6

170.9

1978

I

272.1

101.2

170.8

II

271.9

97.1

174.8

III

277.8

101.9

175.9


(annual rate)

1978

I

- 3 . 5

- 8 . 9

- . 1

II

- 0 . 2

-15.3

9.6

III

9.0

21.1

2.6

because they carry interest rates thatmay in the longer run be too high inrelation to rates of return on assets heldby thrifts.

The real change in business inventor-ies was $10% billion (annual rate), $2billion less than in the second quarter.The third-quarter estimate is based onpreliminary data for manufacturing andtrade for August, which show a largeincrease from July, and assume littlefurther change from August to Septem-ber. The third-quarter reduction in in-ventory accumulation reflected a con-tinued sharp reduction in accumulationin wholesale trade, traceable mainly tonondurables, where inventories wereliquidated. Increased accumulation inretail trade was a partial offset. Re-tailers other than auto dealers steppedup additions to inventories, and autodealers reduced inventories less than inthe second quarter.

Chart 4 relates constant-dollar busi-ness inventories to constant-dollar busi-ness final sales and to constant-dollarbusiness final sales of goods and struc-tures. Analytical use of the former rela-tionship implies that the production ofservices results in a demand for inven-tories that is similar to that generatedby the production of goods and struc-tures. Use of the latter implies that theproduction of services does not generatedemand for inventories. Both implica-tions are extremes. As shown in theupper panel of the chart, the inventory-final sales ratio in the third quarter of1978 was 0.268, about 0.012 less than in1968, a period that is often consideredto have had "normal" inventory-salesratios. As shown in the lower panel, theinventory-final sales of goods and struc-tures ratio in the third quarter was0.421, 0.011 more than in 1968.

Net exports

Real net exports of goods and serv-ices, at $12 billion (annual rate), wasa little more than in the second quarter(table 8). The third-quarter estimates,which are subject to substantial revi-sion, are based on the assumption thatSeptember merchandise exports weredown slightly from August and thatmerchandise imports were up.

It is difficult to interpret quarterlychanges in net exports over the past


October 1978 SUEVEY OF CUKKENT BUSINESS

year, because—quite apart from dis-continuities that may have been intro-duced by improvements in statisticalmethodology made by the Census Bu-reau in January—trade was distortedby the East Coast dock strike, whichbegan last October and was settled inlate November. A somewhat betterperspective can be obtained if the thirdquarter of 1978 is compared with thethird quarter of 1977. As can be seenfrom the accompanying tabulation, realnet exports in the third quarter of 1978were about the same as a year earlier. Areduction in the merchandise balancewas offset by an increase in the balanceon other transactions, which coverservices including the net inflow of prop-erty incomes from abroad. The declinein the merchandise balance was due toa larger increase in imports than in ex-ports. Nonpetroleum imports increasedsharply over the year. In contrast,petroleum was down a little, as theopening of the Alaskan pipeline per-mitted substitution of domestic pro-duction for imports beginning in thelatter part of 1977. Nonagricultural ex-ports, which account for the bulk ofmerchandise exports, registered only amoderate increase. An ususually sharpincrease in agricultural exports wastraceable to heavy shipments of wheatand feed grains to Eastern Europe andSoutheast Asia.

[Billions of 1972 dollars, at seasonally adjusted annual rates]

CHART 4

Net exports of goods andservices

Merchandise ,net

ExportsAgriculturalNonagricultural

ImportsPetroleumNonpetroleum

Other, net

1977:111

12.5

1.9

70.013.156.9

68.19.1

58.9

10.7

1978:111

12.0

.2

75.916.859.1

75.78.7

66.9

11.7

Change

-0 .5

-1 .7

5.93.72.2

- . 48.0

1.0

Constant-Dollar Business Inventories, Final Sales and Final Sales of Goodsand Structures, and Inventory-Sales Ratios

340

320

«/*

Z 300t>

Bill

ions

Inve

ntor

ies

,to o

260

240

220

-

— y y/ y'000**0*y^

<™y

1 1 1

miAyO*—**

/

i

y .300X ..290

y ..280

yvfti\*^£k ~~

-

—

-

-

f 1

GovernmentReal government purchases increased

9 percent (annual rate) after showing nochange in the second quarter (table 9).This pattern reflected changes in Fed-eral purchases that were mainly due tothe operations of the Commodity CreditCorporation (CCC) partly offset bychanges in State and local purchasest h a t W e r e m a i n l y d u e t o t h e S e v e r e U.S. Department of Commerce, Bureau of Economic Analysis

320

300

280

260

240

220

B50 900

-

-

-

~~ / / / /

~~/// / / /

950

1

1000Final Sales,

/

A//A

/y\m\/

^ 6 9 - 1

i

1050Billions of 1972$

/.470/ / /.450

W s PSwiA

^ryîmi

/

i

1100

/.430

1

1150 1200

-

-

-

-

—

1500 550 800 850600 650 700 750

Final Sales of Goods and Structures, Billions of 1972$Note.—End-of-quarter inventories, seasonally adjusted; final sales seasonally adjusted at annual rates. Blue lines represent ratios of inventory stocks to final sales.



Table 10.—Federal Government Receipts and Expenditures, NIPA Basis[Billions of dollars; seasonally adjusted at annual rates]

Receipts

Personal tax and nontax receiptsCorporate profits tax accruals.,.Indirect business tax and nontax accrualsContributions for social insurance

Expenditures

Purchases of goods and servicesNational defenseNondefense

Transfer paymentsGrants-in-aid to State and local governments.Net interest paid.Subsidies less current surplus of government enterprises

Less: Wage accruals less disbursements

Surplus or deficit (—), national income and productaccounts _ _

n.a. Not available.

weather. State and local purchases in-creased 2% percent in the third quarter,compared with 9){ percent in the second.The second-quarter increase reflected arecovery of construction from its de-pressed first-quarter level, as well as apartial makeup of construction lost inthe first quarter; the third-quarter in-crease was not affected materially,because the makeup continued at ap-proximately the second-quarter rate.

Federal Government purchases in-creased 21 percent (annual rate) aftera decline of 15% percent in the secondquarter. The second-quarter decline hadbeen mainly due to a swing to net loanredemptions as part of the CCC agri-cultural price support operations, andthe third-quarter increase was mainlydue to a cessation of these redemptions.(In the national income and productaccounts, CCC loan redemptions arerecorded as negative government pur-chases, and CCC loan extensions aspositive government purchases.) Theswing in Federal purchases traceable toCCC operations had important impli-cations for agriculture and the fiscalposition of the Federal Government.However, in principle, it had no effecton the changes in real GNP: GNP is ameasure of production, and hence in-cludes agricultural production; it isapparent that the second- and third-quarter changes in CCC loan operationshad no effect on agricultural production

1977

IV

385.5

174.862.925.6

122.2

444.1

152.297.155.1

178.371.130.711.8

0

-58.6

1978

396.2

176.859.626.5

133.3

448.8

151.597.953.6

180.273.933.210.0

-52.6

II

424.8

186.772.627.9

137.6

448.3

147.298.648.6

180.775.934.610.0

III

n.a.

199.1n.a.28.2

139.9

466.1

156.1100.255.9

188.977.736.07.5

.2

Change from precedingquarter

1978

10.7

2.0-3.3

.911.1

4.7

- . 7.8

- 1 . 5

1.92.82.5

-1 .8

6.0

II

28.6

9.913.01.44.3

- . 5

- 4 . 3.7

- 5 . 0

.52.01.4

0

29.0

III

n.a.

12.4n.a.

.32.3

17.8

1.67.3

8.21.81.4

- 2 . 5

.2

in those quarters, or on total real GNP.Rather, their effects were on the dis-position of production among varioususes, including inventory investment.

NIPA Federal sector.—Table 10rounds out information on Federalreceipts and expenditures presentedearlier. The entry for corporate profitstax accruals, and hence those for totalreceipts and for the deficit, cannot befilled in, because estimates of third-quarter corporate profits are not yetavailable. Corporate profits on whichtaxes are accrued will increase muchless in the third quarter than in thesecond, reflecting the much smallerincrease in GNP and a decline ininventory profits. Accordingly, thethird-quarter increase in corporate prof-its taxes will be much smaller than inthe second quarter. With a reasonableassumption about the magnitude ofthe increase, the Federal deficit on anational income and product accountbasis will not be very different from the$23% billion (annual rate) deficit in thesecond quarter. As can be seen from thetable, deficits about twice as large hadbeen registered in the first 2 quartersof the fiscal year.

Motor Vehicle Sales

Sales of new motor vehicles increasedfor the third consecutive model year in

1978 and set a record of 15.1 million.New passenger car sales wrere upslightly over 1977 and turned in thesecond best performance in history.New truck sales neared 4 million, ac-counting for over one-fourth of all motorvehicles sold—the largest share ever. Insome areas of the country, particularlyin the Midwest, as many or more newtrucks than new cars were sold.

New car sales

Retail sales of new passenger carstotaled 11.3 million in the 1978 modelyear, up from 11.0 million in 1977. Allof the increase was in domestic sales—to 9.3 million from 9.0 million. Classi-fication of models into size categoriesbased on interior volume (as describedin the footnote to chart 6) shows thatthe increase was centered in smallcar—subcompacts and compacts—sales.Domestic small car sales in the 1978model year totaled 3.6 million, up from3.3 million in 1977, and they comprised32 percent of the market, up from 30percent. Domestic intermediate salestotaled 3.0 million in both years, andtheir share slipped one-half percentagepoint to 27 percent. Domestic full-sizedcar sales dropped to 2.6 million and a23%-percent share from 2.7 million anda 24%-percent share. Import sales were2.0 million in both 1978 and 1977, andtheir share slipped to 18 percent from18% percent.

CAFE standards.—The 1978 modelyear was the first year in which domes-tic car manufacturers had to meetlegislated fuel economy standards. TheCorporate Average Fuel Economy (CA-FE) standard for 1978 was 18 milesper gallon (mpg). The CAFE is com-puted for each manufacturer as theaverage of mpg ratings for their models,weighted by number of each model theyproduce. According to preliminary En-vironmental Protection Agency esti-mates, the average for all cars producedin 1978 was about 19% mpg, well abovethe standard, and the standard was metby every manufacturer.

The fuel economy of the variousmodels is closely associated with theirsize: The most popular 1978 modelsubcompacts were rated 20-34 mpg,compacts 19-22 mpg, intermediates17-22 mpg, and full-sized 15-19 mpg.


October 1978 SUKVEY OF CUERENT BUSINESS 9

Therefore, because all units producedare eventually sold, the mix of modelsales is an important factor in themanufacturers' effort to meet the CAFEstandard.

In 1979 the standard rises to 19.0mpg, and the Environmental Protec-tion Agency reports that prototype1979 models, assuming a sales mixsimilar to 1978, averaged slightly lessthan 20 mpg. The narrower margin in1979 indicates that each manufacturerwill have to monitor its sales mixclosely to ensure meeting the CAFEstandard.

New car pricing.—In April 1978, U.S.car manufacturers announced price in-creases averaging about 1% percent on1978 models. The mid-model year priceincrease was a departure from the usualpractice of raising prices only in the fall,when new models are introduced. Ac-cording to the manufacturers, frequentprice increases would allow them tocover rising costs more closely in linewith their occurrence, rather than theirhaving to anticipate the next full year'scost increases. Further, more frequentprice changes allow manufacturers more• • • I M H H H M H H M B H CHART 5

Retail Sales of New Passenger CarsMillion units (ratio scale)20

Imports

.A/

I 1 I I I I I I I 1 I I I I I 1 I I I I 1 1 1 I I I I 1 1 M1 9 7 1 7 2 7 3 7 4 7 5 7 6 7 7 7 8


Data: Motor Vehicle Manufacturers Association of the United States, Inc. andWard's Automotive Reports; seasonal adjustment by BEA.

U.S. Department of Commerce, Bureau of Economic Analysis 78-io 5

freedom to adjust individual modelprices, which, for reasons noted above,is of increased importance to them.

Price increases on 1979 models, whichwere introduced in late September andearly October, average slightly over 4percent. They bring the increase overlast September's prices to about 6 per-cent, in line with an agreement reachedbetween the administration and themanufacturers to hold price increases tothe average of the past 2 years. The1979 price increases are higher than 6percent on full-sized and intermediatemodels, and they taper to small in-creases or even decreases on some sub-compact models.

Prices of imported cars—85 percentof which are of Japanese and Germanmanufacture—were raised sharply sev-eral times during the 1978 model year.The major factor behind these price in-creases was the depreciation of the U.S.dollar against the Japanese yen andGerman mark; from September 1977 toSeptember 1978, the dollar's value fell29 percent against the yen and 15 per-cent against the mark. Including theprice increase of 4-8 percent on 1979models announced by several leadingJapanese manufacturers, average im-port prices are likely to be up over 20percent from last September.

Market developments by size category.—The small car market has increased insize over the past few years as highergasoline costs have increased the appealof small cars to consumers. More re-cently, domestic manufacturers pro-moted small car sales because theyneeded to sell small cars to raise theirCAFE's. The 1978 increase in smallcar sales was concentrated in domesticsubcompacts, sales of which were upby one-fifth from 1977. The introduc-tion of two new domestic models andthe several sharp increases in importprices, which led to substitution ofdomestics for imports (nearly all ofwhich are subcompacts), contributedto the 1978 increase.

In 1979 several additional new andredesigned domestic models debut, andprice increases on other subcompactsare limited. The use by domestic manu-facturers of front-wheel drive to in-crease interior room and turbochargers

to improve engine performance and fueleconomy will be more prevalent in 1979.To remain price competitive, one for-eign manufacturer has begun producing1979 models in a U.S. plant, and otherforeign manufacturers may follow suit.

Despite the recent increases in smallcar sales, intermediate and full-sizedcars still account for over one-half of allcars sold in the United States. Becausethe mix of sales changes only slowly,manufacturers must find ways to up-grade the fuel economy of these largecars to increase their CAFE rating. Asdiscussed in the September 1977 SUR-VEY OF CURRENT BUSINESS, the im-

provement in overall fuel economy inthe past several years has been largelydue to technological changes and notto major shifts among the conventionalsize categories. Two technologicalchanges to improve fuel economy forlarge cars are the substitution of alu-minum and plastic for iron and steel, anddownsizing—the reduction of exteriorsize and weight without affecting in-terior size. These changes reduce vehicleweight, allowing the use of smallerengines, which are more fuel-efficient.

CHART 6

Domestic Sales by Size CategoryMillion units (ratio scale)

6

1.5

Full-Sized

I I I 1 I I I I I N I M t I M I I M I 1 I I I 1 I M1971 72 73 74 75 76 77

Seasonally Adjusted at Annual Rates78

Note.—Retail sales of new cars generally were classified by interior volume asfollows: Small—up to 108 cubic feet; intermediate—108 to 121 cubic feet; full-sized—over 121 cubic feet. Several small and intermediate luxury models wereplaced into the full-sized category.

Data: Motor Vehicle Manufacturers Association of the United States, Inc.;seasonal adjustment by BEA.

U.S. Department of Commerce, Bureau of Economic Analysis 78io-6

275-875 O - 78 - 2


10

Over the 1970's, the intermediateshave gradually increased their marketshare at the expense of full-sized cars,partly due to their better fuel economyand to a decrease in average family size.Intermediate sales started off slowly in1978, attributable to delayed consumeracceptance and initial short supply ofseveral redesigned downsized models,but picked up during the year. Aidedby the extensive downsizing, the shifttoward six- and small eight-cylinderengines from large eight-cylinder en-gines continued in 1978. No new or re-designed intermediates are introducedin 1979; the more fuel-efficient dieselengine is offered for the first time asan option on several high-volumeintermediates.

Unlike small and intermediate cars,full-sized car sales are well below pre-energy crisis levels. Their market sharehas fallen to less than one-fourth, butintroduction of new and redesignedmodels in 1979 is expected to stimulatesales. Several regular and luxury 1979models are downsized, thus improvingthe gasoline mileage rating of some ofthe least fuel-efficient cars. An in-creasing percentage of full-sized carshave small eight-cylinder engines, andH H H H H H M H H H H H H CHART 7

Market Share of New Car Salesby Domestic Size Category and Imports

Percent100

40 -

20

1971 72 7773 74 75 76Seasonally Adjusted

Data: Sales by model from Motor Vehicle Manufacturers Association of theUnited States, Inc. and Ward's Automotive Reports; seasonal adjustment byBEA.


SUEVEY OF CUERENT BUSINESS

the diesel engine option is extended toseveral additional models in 1979.

Recent developments,—Retail sales ofnew passenger cars declined to 11.2million (seasonally adjusted annualrate) in the third quarter of 1978 from12 million in the second quarter (chart5). The second-quarter total, thehighest in 5 years, was raised by themakeup from the severe weather inJanuary and February. Domestic salestotaled 9.3 million in the third quarter,down from 10 million in the second butstill quite strong. Domestic small carsales were at a record pace in the secondquarter before declining in the third(chart 6). The small-car share of themarket widened to over 30 percent(chart 7). Intermediate car sales werestrong in both the second and thirdquarters, and by the third quarterthey attained a 29-percent share. Full-sized car sales dropped sharply in thethird quarter and captured only 22percent of the market. Import sales inthird quarter were 2 million, about thesame level as in the previous fourquarters. The import share was over17 percent in both quarters, consider-ably less than the 18-20 percent sharein the previous four quarters.

New truck sales

Retail sales of new trucks have almostdoubled since the 1975 recession lowand are about one-fourth above the1973 peak. Sales fell to 3.8 million(seasonally adjusted annual rate) in thethird quarter of 1978 from the record4.1 million in the second quarter (chart8).

Most of the huge post-recession in-crease in new truck sales has been inlight trucks (up to 14,000 pounds grossvehicle weight), which account, in unitterms, for about 90 percent of totaltruck sales. Light truck sales reached arecord 3.7 million in the second quarterof 1978 before dropping to 3.4 millionin the third quarter. Increasingly, lighttrucks—mostly pickups and vans—arepurchased for personal use and areoffered with an array of styling andcomfort options—for example, exteriortrim packages, custom interiors, auto-matic transmission, air conditioning,and AM-FM stereo radios. Within thelight truck category, sales of 6,000- to

October 1978

10,000-pound trucks have been espe-cially strong. Some of the sales increasein this weight category probably reflectsa shift from the 0- to 6,000-poundcategory, which is subject to Federalemission standards. In the 1979 modelyear, the maximum weight to which thestandards apply is raised to 8,500pounds, and the shift to the 6,000- to10,000-pound trucks may slow as aresult.

Price increases on the 1979 lighttrucks are considerably higher thanthose on cars, averaging between 7 and8 percent. Light truck prices were raisedseveral times during the 1978 modelyear, bringing the total increase overlast September to over 9 percent. Inthe past 2 model years, light truck price

(Continued on page 53)

Retail Sales of New TrucksMillion units (ratio scale)

CHART 8

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


Note.—Retail sales of new trucks, including imports of U.S. manufacturers, areclassified by gross vehicle weight (GVW) as follows: Light-up to 14,000pounds; medium-14,001 to 26,000 pounds; heavy-over 26,000 pounds. GVWis the manufacturers' rating that includes cargo weight, the weight of the truckchassis, and the weight of the body mounted on the chassis.

Data: Motor Vehicle Manufacturers Association of the United States, Inc.;seasonal adjustment by BEA.

U.S. Department of Commerce, Bureau of Economic Analysis 7810 8


October 1978 SURVEY OF CURRENT BUSINESS

NATIONAL INCOME AND PRODUCT TABLES

11

1976 1977

1977

II III IV

1978

I II III v

Seasonally adjusted at annual rates

Billions of current dollars

1976 1977

1977

II III IV

1978

I II III v



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


Personal consumption expenditures..

Durable goodsNondurable goods

Services

Gross private domestic investment-..

Fixed investmentNonresidential___

Structures. _,Producers' durable equipment..

ResidentialNonfarm structuresFarm structuresProducers' durable equipment..

Change in business inventories.NonfarmFarm

Net exports of goods and services-

ExportsImports .

Government purchases of goods and services..

Federal _.National defense..Nondefense

State and local

1,700.1

,090.2

156.6442.6491.0

243.0

232.8

164.657.3

107.3

68.265.81.11.3

10.212.2

- 2 . 0

7.4

163.2155.7

359.5

129.986.843.1

229.6

887.2 1,867.0

1,206.5

178.4479.0549.2

297.8

282.3

190.463.9

126.5

91.988.9

1.51.5

15.615.0

.6

-11 .1

175.5186.6

394.0

145.194.350.8

248.9

1,188.6

175.6473.6539.4

295.6

278.6

187.263.4

123.8

91.488.4

1.61.4

17.016.5

.5

- 5 . 9

178.1184.0

142.993.749.3

245.9

916.8

,214.5

177.4479.7557.5

309.7

287.8

193.565.4

128.1

94.391.21.61.5

21.922.0- . 1

-7.0

180.8187.8

399.5

146.894.452.4

252.7

1,958.1

1,255.2

187.2496.9571.1

313.5

300.5

200.367.4

132.8

100.297.5

1.21.6

13.110.42.7

-23.2

172.1195.2

412.5

152.297.155.1

260.3

1,992.0

1,276.7

183.5501.4591.8

322.7

306.0

205.668.5

137.1

100.397.31.31.7

16.716.9- . 2

-24 .1

181.7205.8

416.7

151.597.953.6

265.2

087.5

1,322.9

197.8519.3605.8

345.4

325.3

220.176.6

143.5

105.3102.1

1.41.8

20.122.1

- 2 . 0

- 5 . 5

205.4210.9

424.7

147.298.648.6

277.6

2,141.1

1,354.5

199.3529.4625.8

351.7

334.1

225.479.5

145.9

108.8105.5

1.51.7

17.618.6

- 1 . 0

- 6 . 5

210.9217.3

441.3

156.1100.255.9285.2

,271.0

819.4

125.9320.2373.2

173.4

166.8

118.938.3

47.846.0

.71.1

6.78.5

- 1 . 9

15.4

95.980.5

262.8

96.6

166.2

1,332.7

857.7

137.8330.4389.5

196.3

187.4

129.840.089.8

57.755.6

.91.2

8.99.4

- . 5 -

9.5

98.288.7

269.2

101.6

167.6

1,325.5

849.5

136.2327.2386.0

197.1

187.1

129.140.089.0

58.055.9

1.01.1

10.010.2- . 2

11.0

98.987.9

267.9

101.3

166.6

1,343.9

858.0

136.9329.2391.8

201.7

189.5

130.840.890.0

58.856.61.01.2

12.213.5

- 1 . 4

12.5

100.8

88.2

271.7

102.9

168.8

1,354.5

876.6

143.0338.1395.6

200.3

192.8

132.541.091.5

58.4.7

1.2

7.56.5

3.1

96.092.9

274.5

103.6

170.9

1,354.2

873.5

137.8333.3402.4

205.7

193.4

133.841.092.9

59.557.4

.81.3

12.312.5- . 1

2.9

99.196.2

272.1

101.2

170.8

1,382.6 1

886.3

145.8336.3404.2

213.1

200.4

140.544.695.9

59.57.8

.81.4

12.713.9

- 1 . 2

11.3

108.497.1

271.9

97.1

174.8

1,394.3

893.7

144.6339.2409.8

210.8

200.1

140.445.095.4

59.757.6

.81.3

10.711.3- . 6

12.0

109.597.5

277.8

101.9

175.9

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.

Final sales _Change in business inventories.

Durable goods.Final sales..Change in business inventories.

Nondurable goodsF inal salesChange in business inventories.

ServicesStructures.

, 700.1

, 689.910.2

760.3

750.110.2

304.6299.3

5.3

455.7450.7

4.9

778.0161.9

1,887.2

1,871.615.6

832.6

817.015.6

341.3332.9

8.4

491.3484.1

7.2

862.8191.8

1,867.0

1,850.017.0

825.8

808.817.0

339.1330.0

9.1

486.7478.8

7.9

850.0191.3

1,916.8

1,894.921.9

844.7

822.821.9

346.5334.6

11.9

498.2488.210.0

875.3196.8

1,958.1

1,945.013.1

859.6

846.513.1

347.4341.1

6.3

512.2505.4

6.8

893.6204.9

1,992.0

1,975.316.7

861.8

845.116.7

351.2336.3

14.8

510.6508.7

1.9

926.4203.8

2,087.5

2,067.420.1

912.2

892.120.1

375.8365.0

10.8

536.4527.1

9.3

952.0223.4

2,141.1

2,123.417.6

930.7

913.017.6

381.4370.1

11.2

549.3542.9

6.4

977.6232.8

1,271.0

1, 264.46.7

576.5

569.86.7

236.2232.5

3.6

340.3337.3

3.0

583.0111.6

1,332.7

1,323.88.9

608.4

599.68.9

253.7248.0

5.8

354.7351.6

3.1

602.9121.3

1,325.5

1,315.510.0

604.4

594.310.0

253.0246.9

6.1

351.3347.5

3.9

598.8122.3

1,343.9

1,331.712.2

613.3

601.112.2

255.9248.0

7.9

357.4353.1

4.3

606.9123.7

1,354.5

1,347.17.5

620.1

612.77.5

255.1250.5

4.6

365.0362.1

2.9

609.6124.8

1,354.2

1,341.812.3

611.8

599.412.3

254.6245.0

9.6

357.2354.5

2.7

620.1122.3

1,382.6 1,394.3

1,369.9 1,:12.7

627.7

615.012.7

266.6260.2

6.4

361.2354.8

6.3

625.6129.3

L, 383.510.7

632.1

621.410.7

265.9259.2

6.6

366.3362.2

4.1

631.5130.6

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

Gross national product-.

Gross domestic product

Business...Nonfarm

Nonfarm less housing-Housing

FarmStatistical discrepancy..Residual1

Households and institutions..

GovernmentFederal..-State and local-

Rest of the world.

1,700.1

1,685.7

1,436.71,385.61,255.0

130.646.94.2

56.5

192.562.4

130.1

14.4

1,887.2

1,869.9

1,599.31,544.01,397.8

146.250.54.7

62.7

208.066.4

141.5

17.3

1,867.0

1,849.0

1,582.51,528.01,384.0

144.150.83.7

61.3

205.265.4

139.8

18.0

1,916.8

1,898.7

1,626.41,571.61,423. 2

148.447.77.1

63.5

208.965.7

143.2

18.1

1,958.1

1,942.2

1,660.41,601.61,449.0

152.754.04.8

65.9

215.969.5

146.4

15.9

1,992.0

1,973.8

1,684.11,628.91,471. 7

157.153.02.2

68.8

221.069.9

151.1

18.2

2,087.5

2,066.5

1.771.81.714.91,553.2

161.756.4

.5

2,141.1

2,119.9

1,820.4

70.5

224.170.1

154.1

21.1

166.457.0

71.9

227.570.5

157.0

21.2

1,271.0

1,264.3

1,077.91,040.1

932.6107.532.2

1,332.7

1,325.3

1,135.91,094.2

980.5113.634.4

5.6

40.7

145.648.597.1

6.8

7.3

42.2

147.248.798.4

7.3

1,325.5

1,317.7

1,129.61,088.9

976.1112.834.1

1,343.9

1,336.3

1,146.11,102.6

988.0114.634.5

6.6

41.7

146.348.797.6

7.8

1,354.5

1,347.9

1,155.91,112.4

996.4116.036.1

9.0

42.5

147.748.899.0

7.6

7.4

43.6

148.448.899.6

6.6

1,354.2

1,346.6

1,153.51,115.4

998.1117.432.5

1,382.6 1,394.3

1,373.9 1,385.7

1,180.0 1,1,145.2 11,026.5'

118.630.5

5.5

43.8

149.448.8

100.6

7.5

4.3

44.3

149.648.8

100.8

8.8

, 191.4, 154.8

1,034.8120.132.2

2 4.3

44.6

149.849.0

100.8

8.6

Preliminary.

HISTORICAL STATISTICSThe national income and product data for 1929-72 are in The National Income and

Products Accounts of the United States, 1929-7$: Statistical Tables (available for $4.95, SN003-010-OOG52-9, from Commerce Department District Offices or the Superintendent of

Documents; see addresses inside front cover). Data for 1973,1974, and 1975-77 are in July1976, July 1977, and Juiy 1978 issues of the SURVEY, respectively.



1976 1977

1977

II III IV

1978

I II III v


Billions of dollars

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


Less: Capital consumptionallowances withcapital consump-tion adjustment

Capital consumptionallowances withoutcapital consumptionadjustment

Less: Capital con-sumption adjust-ment ...

Equals: Net national product..

Less: Indirect business taxand nontax liability. _.

Business transfer pay-ments

Statistical discrepancy..

Plus: Subsidies less currentsurplus of governmententerprises

Equals: National income

Less: Corporate profits withinventory valuationand capital consump-tion adjustments

Net interestContributions for social

insuranceWage accruals less dis-

bursements

Plus: Government transferpayments to persons...

Personal interest in-come

Net interestInterest paid by gov-

ernment to personsand business

Less: Interest receivedby government

Interest paid by con-sumers to business...

DividendsBusiness transfer pay-

ments

Equals: Personal income

1,700.1 1,887.2 1,867.0 1,916.8 1,958.1

177.8

141.3

-36.5

1,522.3

151.3

8.34.2

.7

1,359.2 1

127.084.3

125.1

0

185.6

126.384.3

22.8

25.137.9

8.3

180.9 1

195.2

153.6

-41.6

1,692.0 1

165.1

9.64.7

2.8

,515.3

144.295.4

140.3

0

199.2

141.295.4

43.0

25.8

28.643.7

9.6

529. C

192.4

151.9

-40.4

674. 6 1

163.3

9.43.7

1.1

1,499. 3 1.

143.793.7

139.1

0

194.6

139.193.7

42.5

25.3

28.242.7

9.4

1,508.6 1,

155.9

-42.6

, 718.3

166.5

9.97.1

6.32.7

537.6 1,576.9 1,603.11,

154.897.3

141.3

0

202.0

143.697.3

43.3

26.3

29.344.1

1,992.0 2,087.5 2,141.1

202.6

157.8

-44.7 -46 .3 -49.4 -53 .8

1,755.5 1,784.7 1,874.2 1,920. 3

170.1

10.04.8

148.299.0

145.0

0

205.9

146.099.0

44.5

27.3

29.846.3

207.3

161.0

-46.3

173.3

10.22.2

4.1

1,603.

132. fi101.7

157.4

0

208.9

151.4101.7

4o. 7

28.5

31.547.0

9.9 10.0 10.2 10.5

543.7 1,593.0 1,628.9 1,682.4

213.3

163.9

179.4

10.5.5

4.3

688.1

163.4104.6

162.7

0

210.1

156.3104.6

48.4

29.7

33.048.1

220.8

166.9

176.8

10.9

1.5

107.0

166.0

.2

219.3

160.9107.0

49.9

30.7

34.750.1

10.9

1,727. 2

Table 5.—Relation of Gross National Product, Net NationalProduct, and National Income in Constant Dollars (1.10)

[Billions of 1972 dollars]

1976 1977

1977

II III IV

1978

I II 1 III*


BDlions of dollars

Table 6.—Net National Product and National Income by Sector inCurrent and Constant Dollars (1.11, 1.12)

Net national product

Net domestic product

BusinessNonfarmFarmStatistical discrepancy

Households and institutions.Government.

1,522.3 1,

1,507.9 1,

1,258.9 11,221.0

33.74.2

Rest of the world

National income.. _

Domestic income

Business.. _NonfarmFarm

Households and institutions-Government

Rest of the world.

17.3 18.0

1,359.2 1,515.3 1,499.3

1,344.8

1,095.8 11,064."

31.656.5

192.5



Business..NonfarmFarmResidual 1

Households and institutions .Government

Rest of the world

National income..

Domestic income

BusinessNonfarmF a r m . . .

Households and institutions.Government

Rest of the world.

0 i

56.5192.5

14.4

14.4

,692.0 1,

,674.7 1,

,404.1,363.

36.14.7

2 1

62.7208.0

,227.4, 192.6 1

34.862.7

208.0

17.3

,674.6 1,718.3 1,755.

,656.7 1,700.2 1,739.

1.2 1,9 1,L, 349.

36.63.7

61.3205.2

18.1

537.6

1,498.0 1,481.3 1,519.5 1

., 180.5 1,34.361.3

205.2

18.0

9 1 ,427.387.33.27.1

6 1

63.5208.9

1,214.81,247.2 1,216.0 1,31.163.5

208.9

18.1

, 457.8 1,476.8 1,,413.

39.14.8

1.9 1

65.9215.

15.9

1,576.9 1

,560.

279.1238.7 1

40.565.9

215.9

15.!

784.

766.

, 436.7 137.92.2

9 1

68.8221.0

18.2

603.

584.

7 11,295.1,257.

37.468.8

221.0

18.2

874.

853.

558.51,599.7517.0 .41.0

5 .

2 1,

70.5224.1

21.1

,688.1

,667.1

372.4332.440.070.5

224.1

21.1

, 920.3

, 899.1

41.3

71.9227.5

21.2

39.871.9

227.5

21.2


1,145.1

1,138.3 1,196.4

952.0 1,923.423.05.6

40.7145.6

6.8

1,014.2 1,

1,007.4

821.1796.324.840.7

145.6

6.8

1,203.8

0 1007.974.525.27.3

42.2147.2

7.3

,065.11,

1,057.7

868.3841.4

26.942.2

147.2

7.3

1,197.0 1,214.6 1,224.4

1,189.3 1,207.0 1,217.7 1,215.8 1,242.3 1,253. 4

1.12 1L, 001 .969.725.06.6

41.7146.3

7.8

,060.2 1,

1,052.4 1,

864.4837.8

26.641.7

146.3

7.8

8 1,016.982.525.39.0

42.5147.7

7.6

,073.9 1,

,066.3 1,

876.1849.127.042.5

147.7

7.6

7 1,025.991.526.97.4

43.6148.4

6.6

884.3855.728.743.6

148.4

6.6

1,223.3 1,251.1 1,262.0

,022.6 1,993.23.35.5

43.8149.4

7.5

083.0 1,082.8 1

076.4

882.1857.3

24.843.8

149.4

7.5

048.5 1,022.821.34.3

44.3149.6

8.8

109.4

1,075.3 1,100.6

906.8884.122.744.3

149.6

8.8

22.9

44.6149.8

8.6

24.244.6

149.8

8.6

1. Equals GNP in constant dollars measured as the sum of final products less GNP inconstant dollars measured as the sum of gross product by industry. The quarterly estimatesare obtained by interpolating the annual estimates with the statistical discrepancy deflatedby the implicit price deflator for gross domestic business product.

NOTE.—Table 6: The industry classification within the business sector is on an establish-ment basis and is based on the 1972 Standard Industrial Classification.


Less: Capital consumption al-lowances with capitalconsumption adjust-ment

1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.3 Footnotes for tables 2 and 3.

Equals: Net national product.__

Less: Indirect business taxand nontax liabilityplus business transferpayments less subsi-dies plus current sur-plus of governmententerprise

125.9

1,145.1

Kesiduali


128.9

1,203.8

128.4 129.3

1,197.0 1,214.6 1,

125.3 131.4 130.2 131.7 134.0 135.0 137.4

5.6 7.3 6.6 9.0 7.4 5.5 4.3

1,014.2 1,065.1 1,060.2 1,073.9 1,083.0 1,082.8 1,109.4

130.2

224. 4 1

130.9

,223. 31 ,

131.6

,251.1

132.3

1,262.0

138.9

1. Equals GNP in constant dollars measured as the sum of final products less GNP inconstant dollars measured as the sum of gross product by industry. The quarterly estimatesare obtained by interpolating the annual estimates with the statistical discrepancy deflatedby the implicit price deflator for gross domestic business product.

2. Held constant at level of previous quarter.

NOTE.—Table 2: "Final sales" is classified as durable or nondurable by type of product."Change in business inventories" is classified as follows: For manufacturing, by the type ofproduct produced by the establishment holding the inventory; for trade, by the type ofproduct sold by the establishment holding the inventory; for construction, durable; and forother industries, nondurable.

Table 8: The industry classification within the business sector is on an establishment basisand is based on the 1972 Standard Industrial Classification.

*> Preliminary.


October 1978 SURVEY OF CURRENT BUSINESS 13

1976 I 1977

1977

II III IV

1978

I II III*


Billions of dollars

Table 7.—National Income by Type of Income (1.13)

National income..

Compensation of employees

Wages and salariesGovernment and govern-

ment enterprisesOther

Supplements to wages andsalaries

Employer contributionsfor social insurance

Other labor income

Proprietors' income with in-ventory valuation and capi-tal consumption adjust-ments

FarmProprietors income with

inventory valuation ad-justment and withoutcapital consumption ad-justment

Capital consumption ad-justment..

Nonfarm. _Proprietors' income with-

out inventory valuationand capital consump-tion adjustments

Inventory valuation ad-justment __

Capital consumption ad-justment

Rental income of persons withcapital consumption ad-justment

Rental incomeCapital consumption adjust-

ment

Corporate profits with inven-tory valuation and capitalconsumption adjustments

Corporate profits wi th in-ventory valuation ad-justment and withoutcapital consumption ad-jus tment

Profits before taxProfits tax liabilityProfits after tax

Dividends .

Undistributed profitsInventory valuation ad-

justmentCapital consumption adjust-

ment

Net interest

Addenda:Corporate profits with inven-

tory valuation and capitalconsumption adjustments

Profits tax liabilityProfits after tax with inven-

tory valuation and capitalconsumption adjustments

DividendsUndis t r ibuted profits

wi th inventory valua-t ion and capital con-sumption adjustments

359.2

890.1

187.6702.5

146.7

69.777.0

18.4

22.4

- 4 . 070.2

71.4

22.538.

- 1 6 . 2

127.0

141.4155.64.391.37.

53.8

- 1 4 . 1

- 1 4 . 4

84.

127. C

64.

62.37.

24.

515.3

,153.4

983.6

200.8782.9

169.8

79.490.4

99.8

20.2

24.6

- 4 . 479.5

81.4

- 1 . 3

- . 6

22.542.1

- 1 9 . 6

144.2

159.1173.971.8

102.143.

58.4

- 1 4 .

- 1 4 . 9

95.4

144.

71.8

72.343.

28.

499.3

140.5

973.4

198.1775.3

167.1

78.688.5

98.9

20.0

24.2

- 4 . 278.9

80.6

- 1 . 4

o

22.441.5

- 1 9 . 0

143.

158.5175.172.3

102.842.

60.

-16 .6

- 1 4 . 8

93.

143.

72.

71.42.

28.

537.6

165.8

993.6

201.7791.9

172.2

79.992.2

97.2

16.5

21.0

- 4 . 580.8

82.2

- . 7

- . 7

22.442.6

-20 . :

154.8

169.9177.572.8

104.844.1

60.6

- 7 . 7

- 1 5 . C

97.3

154.8

72.8

82.44.

576.9

1,199.7

., 021.2

208.1813.1

178.4

82.496.1

107.3

25.1

29.8

- 4 . 782.3

84.8

- 1 .

- 1 . 2

22.744.0

-21.3

118.

163.5178.373.9

104.4

46.3

58.1

-14.8

-15.3

99.0

148.2

73.

74.346.3

28.

603.1

241.0

050.8

211.4839.3

190.2

90.2100.0

105.0

21.9

26.6

- 4 . 7

86.7

- 2 . 1

- 1 . 5

22.844.6

- 2 1 . 8

132.6

148.172.170.0

102.1

47.0

55.1

- 2 3 . 5

- 1 6 . 1

101.

132.6

70. C

62.47.

15.

688.1

287.8

090.2

213.9876.3

197.6

93.6104.0

110.1

24.0

28.8

- 4 . 886.1

90.1

- 2 . 2

- 1 . 8

22.245.5

- 23 .3

163.4

180.6205.585.0

120.548.1

72.

-24 . S

- 1 7 . 2

104.6

163.4

85. C

78.448.

30.

,314.7

, 111. 2

216.9894.3

203.5

95.6107.9

113.2

23.5

28.3

- 4 . 889.7

93.6

- 1 . 8

- 2 . 1

24.449.6

-25.2

50.1

-20.9

-19.3

107.0

50.1

Table 8.—Gross Domestic Product of Corporate Business (1.15, 7.8)

Gross domestic productof corporate bus iness . .

Capital consumption allow-ances with capital consump-tion adjustment

Net domestic productIndirect business tax and

nontax liability plus busi-ness transfer paymentsless subsidies

Domestic incomeCompensation of em-

ployeesWages and salariesSupplements to wages

and salaries

1,038.8 1,160.2 1,148.8

111.5

927. 3 1,

108.1819.2

690.2583.9

106.3

120.9

,039. 3 1

117.8921.5

776.3652.5

123.8

1,183.3 1,206.1

119.8

,029. 0 1

116.6912.4

768.8646.6

122.2

122.6

., 060.7

118.9941.8

786.3660.4

125.9

124.6

1,081.

1,223.4 1,298.0

4 1

121.5960.0

808.1678.1

130.0

127.4

,096.1

124.3

837.4698.7

138.7

130.5

1,167.5

129.1971.8 1,038.3

875.1730.6

144.5

134.7

129.1

894.4745.5

148.9

1976 1977

1977

II III IV

1978

I II III


Billions of dollars

Table 8.—Gross Domestic Product of Corporate Business^Con.

Corporate profits with inventoryvaluation and capital con-sumption adjustments


DividendsUndistributed profits

Inventory valuation adjustmentCapital consumption adjustment.

Net interest

Gross domestic product of fi-nancial corporate business L__

Gross domestic product of non-financial corporate business . . .

Capital consumption allowances withcapital consumption adjustment

Net domestic productIndirect business tax and nontax

liability plus business transfer pay-ments less subsidies

Domestic incomeCompensation of employees

Wages and salariesSupplements to wages and sala-

riesCorporate profits with inventory

valuation and capital con-sumption adjustments


DividendsUndistributed profits

Inventory valuation adjustmentCapital consumption adjustment.

Net interest

- 1 4 . 514.410.2

50.4

Gross domestic product of non-financial corporate business __

Capital consumption allowances withcapital consumption adjustment

Net domestic productIndirect business tax and nontax

liability plus business transferpayments less subsidies

Domestic income

Current-dollar cost and profit perunit of constant-dollardomestic product2

Capital consumption allowances withcapital consumption adjustment—

Net domestic productIndirect business tax and nontax lia-

bility plus business transfer pay-ments less subsidies

Domestic incomeCompensation of employees.. _Corporate profits with inventory

valuation and capital con-sumption adjustments

Profits tax liabilityProfits after tax with inventory

and capital consumptionadjustments

Net interest

118.8147.764.383.433.949.6

-14.8-14. <

10.6

57.0

988.5 1,103.2 1,093.3 1,124.6 1,146.3 1,161.6

106.7

881.8

99.5782.2650.2550.7

9.5

101.3130.53.077.233.543.

-14.5-14.3

30.

134.6164.371.892.539.053.5

-16.8-14.8

10.3

55.5

115.6

107.8879.8732.1616.1

116.1

113.9143.559.084.539.145. S

-14.8-14.

133.3164.772.392.338.054.3

114.6

106.8871.9725.3610.6

114.7

113.5144.759.984.837.946.9

-16.6-14.

33.

144.5167.272.894.439.255.3

- 7 . 7-15.0

11.0

58.7

117.2

978.7 1,007.4 1,027.3

108.7898.7741.6623.5

118.1

122.8145.359.485.939.546.4

-7 .7-14.8

34.4

140.3170.473.996.542.054.5

-14.8-15.3

11.5

59.8

119.0

110.9916.4762.2640.3

121.9

118.7148.560.488.042.545.6

-14.8-15.0

35.4

123.2162.770.092.742.350.

-23 . 5-16.1

11.2

61.8

121.6

1,040.0

113.5926.5789.9659.8

130.1

100.9140.055.984.243.041.2

-23.5-15 .7

35.7

151.7193.885.0

108.842.3

- 2 4 . 9- 1 7 . 2

11.5

64.9

1233.0

124.6

1108.5

118.0990.5826.0690.4

135.6

127.8169.570.199.442.956.5

-24.-16.8

36.6

43.9

-20.9-19.311.8

128.6

117.8

843.5703.9

139.6

44.6

-2O.~9- 1 8 . 9

37.5


730.0

75.1

654.8

82.7572.1

769.3

76.5

692.8

86.0606.9

766.9

76.3

690.6

85.2605.4

776.7

76.7

700.0

86.0614.0

783.6

77.1

706.5

87.5619.1

783.6

77.5

706.2

87.8618.4

811.9

77.8

734.1

89.3644.8

78.1

90.1

Dollars

1.354

.146

1.208

.136

1.072.891

.139

.073

.066

.042

1.434

.150

1.284

.140

1.144.952

.148

.077

.071

.044

1.426

.149

1.276

.139

1.137.946

.148

.078

.070

.043

1.448

.151

1.297

.140

1.157.955

.158

.076

.082

.044

1.463

.152

1.311

.142

.973

.151

.077

.074

.045

1.482

.155

1.327

.145

1.1821.008

.129

.071

.057

.046

1.519

.153

1.365

.145

1.2201.017

.157

.071

.045

p Preliminary.1. Consists of the following industries: Banking; credit agencies other than banks; security,

commodity brokers and services; insurance carriers; regulated investment companies; smallbusiness investment companies; and real estate investment trusts.

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


14 SURVEY OF CUREENT BUSINESS October 1978

1976 1977

1977

II III IV

1978

II III


Billions of dollars

Table 9.—Auto Output in Current and Constant Dollars (1.16, 1.17)

Auto output-

Final sales


New autos..Net purchases of used autos.

Producers' durable equip-ment

New autos__Net purchases of used autos.

Net exports.ExportsImports

Government purchaser ofgoods and services

Change in business inventoriesof new and used autos

New..Used.

Addenda:Domestic output of new

autos1

Sales of imported new autos2

Auto output..

Final sales

Personal consumption ex-penditures..

New autos..Net purchases of used autos.

Producers' durable equip-ment

New autosNet purchases of used autos.

Net exportsExportsImports


Change in business inventoriesof new and used autos

New..Used.


autos1

Sales of imported new autos 2._

61.4

60.4

52.839.213.6

9.615.5

- 5 . 9- 2 . 6

6.48.9

. 5

1.0

1.00

50.211.5

72.3

70.9

61.846.315.5

12.219.0

- 6 . 8- 3 . 6

7.010.7

. 6

1.4

1.6- . 2

59.415.3

72.1

71.9

61.947.214.7

12.219.2

- 7 . 0- 2 . 8

7.310.0

. 6

. 1

- . 7.8

59.116.7

70.0

68.1

60.445.015.4

11.718.5

- 6 . 8- 4 . 6

6.811.4

. 6

1.9

2.6- . 6

58.414.8

74.5

72.0

63.247.315.9

13.019.7

- 6 . 7- 4 . 8

6.911.8

.6

2.5

3.4- . 9

60.215.5

73.8

71.3

63.147.315.8

13.420.3

- 6 . 9- 5 . 8

6.912.7

. 6

2.5

2.7- . 2

60.515.7

79.5

80.8

70.554.116.5

15.022.7

- 7 . 8- 5 . 2

7.913.1

. 5

- 1 . 3

- 2 . 2.9

65.317.0


77.4

78.2

68.350.817.5

14.722.4

- 7 . 7- 5 . 3

8.213.6

.5

- . 8

63.916.9

49.2

48.5

40.232.18.2

8.812.7

- 3 . 9- 1 . 0

5.26.2

.5

.7

.70

41.19.4

55.2

54.0

44.436.08.5

10.614.8

- 4 . 2- 1 . 5

5.46.9

.5

1.2

1.3- . 2

46.111.9

55.6

55.2

44.837.17.8

11.015.0

- 4 . 1- 1 . 1

5.76.7

.5

.4

- . 1.5

46.313.1

53.7

52.1

43.634.98.7

10.114.3

- 4 . 3- 2 . 0

5.27.2

.5

1.6

2.0- . 4

45.211.5

55.4

53.8

44.735.89.0

10.614.9

- 4 . 3- 2 . 0

5.27.2

. 4

1.6

2.2- . 6

45.511.8

54.1

52.4

43.435.08.4

10.815.1

- 4 . 3- 2 . 2

5.27.3

. 4

1.6

1.8i

44.911.6

57.0

58.3

47.839.38.4

11.816.5

- 4 . 7- 1 . 7

5.87.5

.4

- 1 . 3

- 1 . 8.5

47.512.3

54.4

55.0

45.036.28.8

11.416.0

- 4 . 6- 1 . 7

5.97.6

.4

- . 6

- . 7.1

45.512.1

p Preliminary.1. Consists of final sales and change in business inventories of new autos produced in

the United States.2. Consists of personal consumption expenditures, producers' durable equipment, and

government purchases.3. Consists of agriculture, forestry, and fisheries; mining; construction; and manu-

facturing.4. Consists of transportation; communication; electric, gas, and sanitary services; and

trade.5. Consists of finance, insurance, and real estate; services; and rest of the world.

NOTE.—Table 10: The industry classification of wage and salary disbursements and pro-prietors' income is on an establishment basis and is based on the 1972 Standard IndustrialClassification.

1976 1977

1977

II III IV

1978

I II III v


Billions of dollars

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

Personal income

Wage and salary disburse-ments.

Commodity-producing in-dustries 3___

ManufacturingDistributive industries4

Service industries5

Government and govern-ment enterprises

Other labor income

Proprietors' income with in-ventory valuation and capitalconsumption adjustments....

FarmNonfarm.

Rental income of persons withcapital consumption adjust-ment

Dividends

Personal interest income

Transfer payments

Old-age, survivors, dis-ability, and health insur-ance benefits

Government unemploymentinsurance benefits

Veterans benefitsGovernment employees

retirement benefitsAid to families with depend-

ent childrenOther . .

Less: Personal contributionsfor social insurance. _.

Less: Personal tax and nontaxpayments

Equals: Disposable personalincome

Less: Personal outlays


Interest paid by consumersto business

Personal transfer paymentsto foreigners (net)

Equals: Personal saving

Addenda:Disposable personal income:

Total, billions of 1972dollars

Per capita:Current dollars.1972 dollars

Population (millions)

Personal saving as percent-age of disposable personalincome

380.9 1,529.0 1,508.6 1,543.7

890.1

307.5237.5216.4178.6

187.6

77.0

18.470.2

22.5

37.9

126.3

193.9

92.9

15.514.4

25.7

10.135.

55.5

196.5

4 11,184.

1,116.3

1,090.2

25.1

.9

68.0

890.1

5,5044,136

215.2

5.7

983.6

343.7266.3239.1200.1

200.8

90.4

99.8

20.279.5

22.5

43.7

141.2

208.8

105.0

12.513.8

28.8

10.638.1

61.0

226.0

,303.0

1,236.1

926.3

6,0094,271

216.9

5.1

973.4

342.0264.1236.5196.8

198.1

88.5

98.9

20.078.9

22.4

42.7

139.1

204.0

101.8

12.013.8

28.4

10.537.4

60.5

223.3

1,285.

1,217.8

1,206.5 1,188.6 1,

28.6 28. 2

1.0 1.0

66.9 67.5

918.6

5,9344,241

216.6

5.3

1,593.0

993.6 1,021.2

348.3269.3241.2202.3

201.7

92.2

97.2

16.580.8

22.4

44.1

143.6

211.9

108.5

11.413.4

29.:

10.638.7

61.4

224.6

3 1,319.1

1,244.8

,214.5

29.3

. 9

74.3

931.9

6,0774,293

217.1

5.6

357.1277.3247.5208.5

208.1

96.1

107.3

25.182.3

22.7

46.3

146.0

215.9

110.1

11.513.

30.5

10.739.4

62.6

233.3

1,359.6

1,285.9

1,255.2

29.8

.9

73.7

949.6

6,2504,365

217.5

5.4

,628.9

,050.8

365.9286.9257.0216.5

211.4

100.0

105.0

21.983.1

22.8

47.0

151.4

219.2

112.1

10.413.8

31.3

10.740.9

67.2

237.3

1,391.6

1,309.2

1,276.7

31.5

1.0

82.4

952.1

6,3874,370

217.9

5.9

, 682.4 1,727.2

090.2 1,110.9

387.0296.1266.4222.8

213.9

104.0

110.1

24.086.1

22.2

48.1

156.3

220.6

113.

8.513.5

32.5

10.841.6

69.

249.1

1,433. 3

1,357.0

1,322.9

33.0

1.1

76.3

960.3

6,5664,399

218.3

5.3

395.9301.9270.4228.0

216.7

107.9

113.2

23.589.7

24.4

50.1

160.9

230.2

120.9

8.713.4

10.943.2

70.4

262.5

1,464.7

1,390.2

1,354. 5

34.7

1.1

74.4

966.4

6,6964,418

218.7

5.1


October 1978 SUEVEY OF CURRENT BUSINESS 15

1976 1977

1977

II III IV

1978

I II I I Iv


Billions of current dollars

1976 1977

1977

II III IV

1978

I II lllv



Table 11.—Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)

Personal consumption expenditures..

Durable goods

Motor vehicles and partsFurniture and household equipment..Other

Nondurable goods.

FoodClothing and shoes.Gasoline and oilFuel oil and coalOther

Services

HousingHousehold operation.

Electricity and gas.Other

TransportationOther

1,090.2

156.6

69.763.923.0

442.6

225.875.742.812 286.2

491.0

166.472.833.039.837.9

214.0

1,206.5

178.4

81.571.325.6

479.0

245.281.546.513.592.4

549.2

184.681.638.043.644.2

238.8

1,188.6

175.6

81.269.924.6

473.6

244.579.346.212.990.5

539.4

182.178.035.042.943.5

235.8

1,214.5

177.4

79.572.025.8

479.7

246.481.446.013.192.8

557.5

186.983.739.544.145.0

241.9

1,255.2

187.2

84.075.327.9

496.9

252.686.747.513.996.2

571.1

192.084.639.345.347.3

247.3

1,276.7

183.5

84.172.127.3

501.4

257.782.948.315.896.7

591.8

198.189.643.346.349.7

254.4

1,322.9

197.8

92.576.528.8

519.3

267.887.549.115.299.7

605.8

204.188.941.547.452.1

260.6

1,354.5

199.3

90.078.630.7

529.4

272.090.250.814.1

102.4

625.8

209.692.943.949.055.0

268.3

819.4

125.9

54.352.918.7

320.2

158.864.226.05.8

65.4

373.2

134.752.721.431.229.4

156.3

857.7

137.8

60.057.620.2

330.4

165.166.626.65.6

66.4

389.5

140.355.422.433.030.8

162.9

849.5

136.2

60.256.619.5

327.2

164.765.126.45.4

65.6

386.0

139.653.721.032.730.7

161.9

858.0

136.9

58.658.020.3

329.2

164.966.226.55.4

66.3

391.8

141.256.122.933.231.0

163.6

876.6

143.0

60.960.321.8

338.1

167.670.226.95.7

67.8

395.6

142.456.322.533.831.9

164.9

873.5

137.8

59.557.421.0

333.3

165.666.827.16.4

67.3

402.4

144.258.724.634.133.0

166.5

886.3

145.8

64.259.821.8

336.3

164.769.527.56.0

68.5

404.2

145.857.022.534.534.0

167.4

893.7

144.6

61.060.723.0

339.2

164.971.628.05.5

69.1

409.8

147.258.223.334.935.3

169.2

1

1976 1977

1D77

II III IV

1978

I II III v


Bill ions of dollars

Table 12.—Federal Government Receipts and Expenditures (3.2)

Receipts

Personal tax and nontax receiptsIncome taxesEstate and gift taxesNontaxes

331.4

.46.8

.41.15.6.1

C orporate profits tax accruals

Indirect business tax and nontaxaccruals

Excise taxesCustoms duties'Nontaxes

Contributions for social insurance

Expenditures

Purchases cf gocds and servicesNational defense

Compensation of employeesMilitaryCivilian

Other

NondefenseCompensation cf employees.Other

Transfer payments.To personsT o foreigners

Grants-in-aid to State andgovernments

local

Net interest paidInterest paid

To persons and businessTo foreigners

Less: Interest received by Government.

Subsidies less current surplus ofGovernment enterprises

SubsidiesLess: Current surplus of Govern-

ment enterprises :

Less: Wage accruals less disburse-ments

Surplus or deficit (—), nationalincome and product accounts.

Social insurance funds..Other funds

374.5

169.4162.1

7.2.2

54.8

23.417.04.61.8

.06.4

385.2

.29.986.840.924.016.945.8

43.121.521.6

L61.6L58.4

3.2

61.1

26.832.127.64.55.3

5.85.6

-53.8

-11.6

371.4

167.0161.4

5.5.2

61.3

25.017.55.42.1

118.7

422.6

145.194.342.924.918.051.4

50.823.527.3

172.7169.5

1.2

67.4

29.135.329.85.56.2

8.37.5

-48.1

-10.1-38.0

61.8

24.817.35.42.1

117.7

411.7

142.993.742.324.617.751.4

49.323.126.1

168.2165.2

3.0

65.4

28.835.029.85.26.2

6.46.3

-40.3

-7.9-32.4

174.3

.67.6

.61.75.7

62.0

25.417.55.72.1

119.3

430.7

146.894.442.424.517.852.0

52.423.329.1

175.7172.0

3.7

70.9

28.935.429.95.56.4

8.46.9

- 1 . 5

-56.4

-11.9-44.5

385.5

.74.8

.69.25.5

396.2

176.8171.3

5.4.2

62.9

25.617.95.52.2

22 2

444.1

152.297.144.926.018.952.3

55.124.630.5

178.3175.0

3.4

71.1

30.737.030.46.66.3

11.810.3

-58.6

-11.5-47.1

59.6

26.517.96.32.2

133.3

448.8

151.597.945.025.919.152.9

53.624.928.7

180.2176.9

3.3

73.9

33.240.232.37.97.0

10.0

- 1 . 2

-52.6

- 1 . 7-50.9

424.8

186.7 199.1181. 3 193. 8

5.2 5.1.2 .2

72.6

27.918.47.22.3

137.6

28.218.77.12.3

139.9

448.3 466.1

147.2 156.198. 6 100. 2

3.7

75.9

34.642.333.78.57.7

10.08.4

- 1 . 6

0

-23 .61.9

-25 .5

45.025.919.253.5

48.625.023.6

180.7177. 0 185. 2

45.326.019.354.9

55.925.2

188.9

3.7

77.7

36.043.934.99.07.9

8.1

.6

- 3 .7

1976 1977

1977

ii in rv

1978

I II III v


Billions of dollars

Table 13.—State and Local Government Receipts andExpenditures (3.4)

Receipts.. 266.9

Personal tax and nontax receipts...Income taxesNontaxesOther

Corporate profits tax accruals

Indirect business tax and nontaxaccruals

Sales taxesProperty taxesOther

Contributions for social insurance

Federal grants-in-aid

Expend i tures

Purchases of goods and services.Compensation of employeesOther

Transfer payments to persons.

Net interest paidInterest paidLess: Interest received by govern-

ment

Subsidies less current surplus of gov-ernment enterprises

SubsidiesLess: Current surplus of govern-

ment enterprises

Less: Wage accruals less disbursements_

Surplus or deficit ( - ) , nationalincome and product accounts-

Social insurance funds..Other funds

2%. 2

49.7

16.16.8

9.4

128.057.657.912.3

18.7

61.1

56.630.918.27.4

10.5

140.063.962.313.7

21.7

67.4

246.3

229.6130.199.5

- 5 . 412.0

17.5

-5 .1.2

5.3

0

20.7

15.25.5

292.0

56.230.617.97.7

10.6

138.563.061.813.5

21.4

65.4

266.6

248.9141.5107.4

29.7

- 6 . 513.2

19.6

-5 .6

.2

5.8

0

29.6

18.011.5

301.8

57.031.318.57.3

10.7

141.264.262.913.9

22.0

70.9

263.5

245.9139.8106.1

29.3

- 6 . 412.7

19.1

- 5 . 3

.2

5.6

0

28.5

17.710.8

307.9

270.7

252.7143.2109.6

30.1

- 6 . 513.4

- 5 . 7.3

5.9

0

31.2

18.312.8

315.7

58.532.019.07.5

10.9

66.763.514.3

22.8

71.1

278.9

260.3146.4113.9

30.9

- 6 . 814.1

21.0

- 5 . 5.3

5.8

0

29.0

19.19.9

60.533.319.57.7

10.4

146.867.764.314.7

24.1

73.9

284.2

265.2151.1114.1

32.0

- 7 . 114.4

21.5

- 6 . 0.3

6.2

0

31.5

19.911.5

327.4

62.534.520.17.8

12.4

151.570.665.815.1

25.2

75.9

297.7

63.534.820.87.8

148.571.761.215.6

26.1

77.7

305.5

277. 6 285. 2154.1

33.1

- 7 . 314.7

22.0

- 5 . 7.3

6.0

0

29.8

20.59.3

157.0123. 5 128. 2

34.1

- 7 . 915.0

22.9

- 6 . 0.3

6.3

0

21.3

v Preliminary. , , ,1. Includes fees for licenses to import petroleum and petroleum products.



1976 1977

1977

II III IV

1978

II IIIv


Billions of dollars

Table 14.—Foreign Transactions in the National Income andProduct Accounts (4.1)

Receipts from foreigners.

Exports of goods and servicesMerchandiseOther

Capital grants received by theUnited States (net)...

Payments to foreigners...

Imports of goods and services..MerchandiseOther

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

Interest paid by governmentto foreigners

Net foreign investment

163.2

163.2114.748.5

0

163.2

155.7124.031.7

4.2.9

3.2

4.5

- 1 . 2

175.5

175.5120.654.9

0

175.5

186.6151.635.0

4.21.03.2

5.5

-20.9

178.1

178.1122.655.5

0

178.1

184,0149.035.0

4.01.03.0

5.2

-15.2

180.8

180.8124.156.8

o180.8

187.8153.134.8

4.6.9

3.7

5.5

-17 .1

172.1

172.1117.854.2

0

172.1

195.2158.536.7

4.3.9

3.4

6.6

-34 .1

181.7

181.7122.759.0

0

181.7

205.8167.538.3

4.31.03.3

7.9

-36 .3

205.4

205.4140.365.1

0

205.4

210.9171.539.4

4.81.13.7

8.5

-18 .9

210.9

210.9145.265 7

0

210.9

217.3177.240.1

4.81.13.7

9.0

- 2 0 . 3

Table 15.—Gross Saving and Investment (5.1)

Gross saving..

Gross private saving.

Personal savingUndistributed corporate

profits with inventoryvaluation and capitalconsumption adjustments.

Undistributed profitsInventory valuation adjust-

mentCapital consumption ad-

justment _Corporate capital consump-

tion allowances with capi-tal consumption adjust-ment

Noncorporate capital con-sumption allowances withcapital consumption ad-justment

Wage accruals less disburse-ments

Government surplus or deficit(—), national income andproduct accounts

FederalState and local

Capital grants received by theUnited States (net)

Gross investment .

Gross private domestic invest-ment

Net foreign investment

Statistical discrepancy.

237.5

270.7

68.0

24.853.8

-14 .5

-14 .4

111.5

66.3

0

-33 .2

-53 .820.7

0

241.7

243.0- 1 . 2

4.2

272.2

290.8

66.9

28.758.4

-14 .8

-14 .9

120.9

74.3

0

-18.6

-48 .129.6

0

276.9

297.8-20 .9

4.7

276.8

288.6

67.5

28.760.1

-16.6

-14.8

119.8

72.6

0

-11 .8

-40.328.5

0

280.4

295.6-15 .2

3.7

285.5

310.7

74.3

38.060.6

- 7 . 7

-15 .0

122.6

75.9

-25 .2

-56 .431.2

0

292.6

309.7-17 .1

7.1

274.7

304.3

73.7

28.058.1

-14 .8

-15 .3

124.6

77.9

-29.6

- 5 8 629.0

0

279.5

313.5-34 .1

4.8

284.2

305.4

82.4

15.655.1

-23.5

-16.1

127.4

79. £

0

-21 .1

-52 .631.5

0

286.4

322.7-36 .3

2.2

326.1

319.9

76.3

30.372.4

-24 .9

-17 .2

130.5

82.8

6.2

-23 .629.8

0

326.6

345.4-18 .9

.5

74.4

-20 .9

-19 .3

134.7

86.1

0

331.5

351.7-20 .3

p Preliminary.1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories

calculated from current-dollar inventories shown in this table is not the current-dollar changein business inventories (CBI) components of G N P . The former is the difference between twoinventory stocks, each valued at end-of-quarter prices. The latter is the change in the physicalvolume of inventories valued at average prices of the quarter. In addition, changes calculatedfrom this table are at quarterly rates, whereas CBI is stated at annual rates.

2. Quarterly totals at annual rates.3. Equals ratio of nonfarm inventories to final sales of business. These sales include a small

amount of final sales by farms.

N O T E . — Table 16: Inventories are classified as durable or nondurable as follows: For manu-facturing, by the type of product produced by the establishment holding the inventory; fortrade, by the type of product sold by the establishment holding the inventory; for construc-tion, durable; and for other nonfarm industries, nondurable. The industry classification isbased on the 1972 Standard Industrial Classification.

Table 17: The industry classification of compensation of employees, proprietors' income,and rental income is on an establishment basis; the industry classification of corporate profitsand net interest is on a company basis. The industry classification of these items is basedon the 1972 Standard Industrial Classification.

1976 1977

1977

II III IV

1978

I II III v


Billions of dollars

Table 16.—Inventories and Final Sales of Business in Current andConstant Dollars (5.9, 5.10)

Inventories^ 476.4 483.6 498.6 520.7 536.5 549.3

Farm-

NonfarmDurable goodsNondurable goods..

ManufacturingDurable goods.Nondurable good s..

Wholesale tradeDurable goodsNondurable goods..

Retail tradeDurable goodsNondurable goods..

Other.

Final sales 2

Ratio of inventories tofinal sales

Nonfarm3

Inventoriesx

Farm

Nonfarm -Durable goods..Nondurable goods

ManufacturingDurable goodsNondurable goods..

Wholesale tradeDurable goods.Nondurable goods..

Retail tradeDurable goodsNondurable goods..

Other

Final sales 2

Ratio of inventories tofinal sales

Nonfarm3

58.0

418.4238.5179.9

211.9135.376.6

80.951.829.1

84.838.546.4

40.7

.304

.267

55.7

428.0245.2182.7

215.5138.177.4

82.854.128.7

87.539.847.7

42.3

.301

.267

60.3

251.8186.5

219.2140.978.3

85.956.129.8

89.941.148.8

43.3

1,565.5 1,604.5 1,647.3 1,667.3 1,751.7

.303

.266

66.3

454.4263.2191.1

225.9146.579.4

90.959.631.4

94.342.951.3

43.3

.312

.273

68.0

468.5271.2197.3

232.0150.781.2

94.261.932.3

97.543.953.6

44.8

.306

.267

67.3

482.0279.7202.3

156.283.6

95.663.731.8

100.644.755.9

46.0

1,802.8

.267


302.7 305.7

40.7

262.0152.2109.8

128.383.644.8

51.934.417.5

58.326.332.0

23.5

1,119.6

.270

.234

40.3

265.4154.2111.2

129.184.045.1

52.735.317.4

59.826.932.8

23.8

1,133.9

.270

.234

307.6

40.6

267.0155.4111. ?

128.883.944.9

53.736.017.7

60.627.533.2

23.9

.268

.233

310.7

40.5

270.2157.8112.4

129.984.945.0

55.737.118.6

61.127.633.5

23.4

1,148.4 1,141.1

.272

.237

313.9

40.2

273.6159.4114.3

131.586.145.4

56.637.818.8

61.727.334.4

23.9

1,167.3

.269

.234

316.5

40.1

276.5161.0115.5

133.187.345.8

56.638.318.3

62.727.335.4

24.1

1,180.6

.268

.234

Table 17.—National Income Without Capital ConsumptionAdjustment by Industry (6.4)

National income with-out capital consump-tion adjustment

Domestic income

Agriculture, forestry, andfisheries

Mining and construction

ManufacturingNondurable goods..Durable goods

TransportationCommunicationElectric, gas, and sanitary

services

Wholesale and retail trade...WholesaleRetail

Finance, insurance, and realestate

Services.Government and govern-

ment enterprises

Rest of the world.

1,393.8 1

1,379. 4 1

40.5

88.0

362.9148.1214.8

51.631.4

27.2

215.389.6

125.7

157.9188.9

215.7

14.4

1,578.

5 1,519.6 1,559.

,554.8 1,537.6

,537.

44.6

100.4

161.7247.2

58.435.0

29.5

237.096.5

140.5

177.9213.1

232.7

17.3

43.9

100.9

408.3161.7246.6

57.834.3

27.9

233.295.8

137.4

174.3

209.6

229.6

18.0

0 1,

9 1

41.1

103.6

412.9163.7249.2

59.635.4

30.4

245.5101.1144.3

181.5216.1

233.8

18.1

,619.

,603.

3 1

50.6

104.2

428.7166.6262.1

61.336.6

30.0

242.996.8

146.1

185.5222.0

241.5

15.9

, 647.2

L, 6 2 9 . C

47.9

101.6

432.5167.6265.0

61.338.6

33.3

245.798.2

147.5

189.9231.0

247.2

18.2

i.735.2

[,714.1

50.7

118.9

461.9176.0285.9

66.539.3

32.7

260.0105.5154.5

196.6236.8

250.7

21.1


October 1978 StTKVEY OF CUKRENT BUSINESS 17

1976 1977

1977

II III IV

1978

I II III*


Billions of dollars

Table 18.—Corporate Profits by Industry (6.18)

Corporate profits withinventory valuationand capital consump-tion adjustments

Domestic industries..FinancialNonfinancial

Rest of the world..

Corporate profits withinventory valuationadjustment and with-out capital consump-tion adjustment

Domestic industriesFinancial1

Federal Reserve banksOther

NonfinancialManufacturing

Nondurable goodsFood and kindred

productsChemicals and allied

productsPetroleum and coal

productsOther

Durable goodsPrimary metal indus-

triesFabricated metal

productsMachinery, except

electricalElectric and electronic

equipmentMotor vehicles and

equipmentOther..

Wholesale and retail trade.

Transportation, com-munication, and elec-tric, gas, and sanitaryservices

Other.

Rest of the world.

Corporate profits beforededuction of capitalconsumption allow-ances with inventoryvaluation adjustment.

Domestic industriesFinancial1-.

Federal Reserve banks _Other

NonfinancialM anufacturing

Nondurable goodsFood and kindred

productsChemicals and allied

productsPetroleum and coal

productsOther

Durable goodsPrimary metal

dustriesFabricated metal

productsMachinery, except

electricalElectric and electronic

equipmentMotor vehicles and

equipment _Other

Wholesale and retail trade.

Transportation, com-nunication, and electric,gas, and sanitary serv-ices

Other.

Rest of the world.

127.0

118.817.4

101.3

8.2

141.4

133.217.56.0

11.6

115.665.637.5

7.3

7.9

11.610.6

28.1

2.0

3.8

5.6

2.7

7.46.6

24.0

13.7

12.4

8.2

238.5

230.322.36.0

16.3

208.0105.556.5

10.6

12.5

17.416.0

49.0

5.6

5.6

9.7

5.7

10.711.7

34.9

38.5

29.1

8.2

144.2

134.620.7

113.9

9.6

159.1

149.520.96.2

14.6

128.674.7

5.7

8.2

12.812.9

35.1

1.8

4.0

7.1

3.9

9.58.8

24.0

16.1

13.8

9.6

265.1

255.526.06.2

19.8

229.5118.660.9

9.3

13.5

19.318.8

57.7

5.8

5.9

11.5

7.3

12.914.3

36.2

42.9

31.8

9.6

143.7

133.319.8

113.5

10.4

158.5

148.119.96.2

13.7

128.177.440.2

5.7

8.5

13.412.6

37.2

2.9

4.1

6.8

3.9

11.08.6

22.8

14.5

13.5

10.4

263.5

253.125.16.2

18.8

228.0120.61.3

13.7

19.718.7

59.3

6.9

5.9

11.3

7.2

14.014.1

34.8

41.1

31.4

10.4

154.8

144.521.7

122.8

10.3

169.9

159.521.96.2

15.7

137.674.740.6

7.0

7.9

12.313.4

34.2

.9

3.9

7.3

4.1

9.28.7

30.6

17.5

14.7

10.3

277.5

267.127.16.2

20.9

240.0119.462.2

10.7

13.2

19.019.3

57.2

4.9

6.0

11.9

7.5

12.614.3

43.0

44.8

32.8

10.3

148.2

140.321.6

118.7

7.9

163.5

155.621.96.4

15.5

133.780.241.1

5.7

8.2

13.813.4

39.1

2.4

4.2

8.5

4.4

9.110.5

22.1

17.1

14.3

7.9

272.8

265.027.26.4

20.8

237.7125.563.2

9.4

13.7

20.519.5

62.4

6.5

6.2

12.9

8.0

12.616.1

34.8

44.8

32.6

7.9

132.6

123.222.3

100.9

9.4

148.7

139.222.76.9

15.7

116.669.837.0

4.3

8.1

10.414.3

32.8

1.2

3.2

6.4

4.3

7.99.7

16.7

17.3

12.8

9.4

260.0

250.628.17.0

21.1

222.5116.059.6

8.1

13.7

17.220.6

56.4

5.4

5.3

11.1

7.9

11.315.4

29.8

45.3

31.4

9.4

163.4

151.723.9

127.8

11.7

180.6

168.924.37.3

17.0

144.687.841.7

5.4

8.3

14.413.7

46.1

5.1

4.3

9.2

4.8

10.811.9

22.0

19.3

15.4

11.7

294.0

282.229.87.3

22.5

252.4134.864.8

9.2

14.2

21.420.0

70.0

9.4

6.4

14.0

8.4

14.217.6

35.5

47.

34.4

11.

1976 1977

1977

II III IV

1978

I II III*

Seasonally adjusted

Index numbers, 1972=100

Table 19.—Implicit Price Deflators for Gross National Product (7.1)

Gross national product...

Personal consumption expend-itures

Durable goodsNondurable goods..Services

Gross private domestic invest-ment

Fixed investmentNonresidential

StructuresProducers' durable

equipmentResidential

Nonfarm structuresFarm structuresProducers' durable

equipment

Change in business inven-tories

Net exports of goods and serv-ices

Exports.Imports-

Government purchases ofgoodsand services

FederalState and local.

133.76

133.1

124.4138.2131.6

141.61

140.7

129.5145.0141.0

138.4149.5

133.2142.5143.0142.6

122.2

170.1193.5

136.8

134.4138.1

140.86

139.9

128.9144.7139.7

150.6146.7159.6

141.0159.4160.0159.7

126.2

178.7210.3

146.3

142.7148.5

142.63

141.6

129.5145.7142.3

148.9145.0158.3

139.0157.6158.2158.7

126.2

180.0209.3

145.1

141.1147.6

144.56

143.2

130.9147.0144.4

151.9147.9160.2

142.4160.6161.3161.8

126.6

179.4212.9

147.1

142.7149.7

147.10

146.2

133.1150.4147.1

155.9151.2164.5

145.2166.1166.9167.5

127 5

179.2210.2

150.3

146.9152.3

150.98 153.56

149.3

135.7154.4149.9

158.2153.6167.2

147.6168.6169.5168.9

128.8

183.3213.8

153.2

149.6155.2

162.3156.7171.8

149.6175.7176.7176.5

131.8

189.4217.2

156.2

151.5158.8

151.6

137.8156.1152.7

167.0160.5176.6

152.9182.2183.3182.2

133.4

192.6222.9

158.9

153.3162.1

Table 20.—Fixed-Weighted Price Indexes for Gross NationalProduct, 1972 Weights (7.2)

Gross national product...

Personal consumption expend-itures

Durable goodsNondurable goodsServices

Gross private domestic invest-

Fixed investmentN onresidential

StructuresProducers' durable

equipmentResidential

Change in business inven-

Net exports of goods and serv-ices

Exports -Imports

Government purchases of goodsand services

FederalState and local

Addenda:Final salesGross domestic product

BusinessNonfarm

134.9

133.9

125.0139.5131.8

140.7139.8147.0

135.7142.5

172.4184.7

137.2

136.0138.0

134.8134.4134.6134.4

143.3

141.8

130.5146.4141.5

152.3148.7156.3

144.3159.2

181.3199.0

146.8

144.9148.1

143.3142.8142.9142.9

142.5

141.2

130.2146.2140.3

150.7147.1154.9

142.6157.4

182.0199.2

145.6

143.3147.2

142.4142.0142.0141.7

144.1

142.8

130.6147.2142.8

153.6149.9157.4

145.6160.4

181.8202.0

147.4

144.6149.3

144.0143.6143.7143.8

146.5

144.5

132.1148.6145.0

157.6153.0160.8

148.5166.1

181.7203.5

151.0

149.6152.0

146.4146.0145.9145.7

149.0

147.3

134.5151.7147.5

160.1155.5163.3

151.1168.6

185.2209.5

153.4

151.4154.9

148.9148.5148.3147.6

152.9

150.9

137.2156.4150.6

164.9159.2168.1

154.0175.5

190.9211.0

156.4

153.1158.6

152.8152.5152.6151.4

155.6

153.3

139.4158.5153.4

169.4162.8172.9

157.0181.8

194.4216.0

158.9

154.4162.0

155.5155.1155.4154.4

1. Consists of the following industries: Banking; credit agencies other than banks; security;commodity brokers and services; insurance carriers; regulated investment companies; smallbusiness investment companies: and real estate investment trusts.

NOTE.—Table 18: The industry classification is on a company basis and is based on the1972 Standard Industrial Classification.

275-875 O - 78 - 3



1976 1977

1977

II III IV I

Seasonally adjusted


II

1978

III*

Table 21.—-Implicit Price Deflators for Gross National Product byMajor Type of Product (7.3)

Gross national product..

Final salesChange in business inven-

tories ._ __

Goods

Final salesChange in business inven-

tories

Durable goodsFinal sales. _.Change in business inven-

tories

Nondurable goodsFinal salesChange in business inven-

tories

ServicesStructures. __

133.76

133.7

131.9

131.6

129.0128.7

133.9133.6

133.5145.1

141.61

141.4

136.8

136.3

134.5134.3

138.5137.7

143.1158.1

140.86

140.6

136.6

136.1

134.0133.7

138.5137.8

141.9156.4

142.63

142.3

137.7

136.9

135.4134.9

139.4138.3

144.2159.1

144.56

144.4

138.6

138.2

136.2136.1

140.3139.6

146.6164.1

147.10

147.2

140.9

141.0

137.9137.3

143.0143.5

149.4166.7

150.98

150.9

145.3

145.1

141.0140.3

148.5148.5

152.2172.7

153.56

153.5

147.2

146.9

143.4142.8

150.0149.9

154.8178.2

Table 22.—-Implicit Price Deflators for Gross National Product bySector (7.5)

Gross national product..

Gross domestic product

BusinessNonfarm-

Nonfarm less housingHousing

Farm ._Residual

Households and institutions-

GovernmentFederal..State and local _

Rest of the world _

133.76

133.3

133.3133.2134.6121.5145.7

138.7

132.2128.6134.0

141.61

141.1

140.8141.1142.6128.7146.7

148.3

141.3136.4143.8

140.86

140.3

140.1140.3141.8127.7148.9

146.9

140.2134.4143.2

142.63

142.1

141.9142.5144.0129.5138.4

149.4

141.4134.6144.7

144.56

144.1

143.6144.0145.4131.6149.4

151.1

145.5142.5146.9

147.10

146.6

146.0146.0147.5133.9163.2

157.1

147.9143.3150.2

150.98

150.4

150.1149.8151.3136.3184.7

159.2

149.9143.5152.9

153.56

153.0

152.8

138.6177.1

161.5

151.9143.9155.8

Table 23.—Implicit Price Deflators for the Relation of GrossNational Product, Net National Product, and National Income(7.6)


Less: Capital consumptionallowances with capi-tal consumption ad-justment

Equals: Net national product..

Less: Indirect business taxand nontax liabilityplus business transferpayments less sub-sidies plus current sur-plus of governmententerprises

Residual


133.76

141.2

132.9

126.9

134.0

141.61

151.5

140.6

130.9

142.3

140.86

149.8

139.9

131.8

141.4

142.63

153.5

141.5

131.9

143.2

144.56

155.6

143.4

129.8

145.6

147.10

158.4

145.9

132.9

148.1

150.98

162.2

149.8

135.1

152.2

153.56

166.9

152.2

134.0

p Preliminary.1. Consists of final sales and change in business inventories of new autos produced in the

United States.2. Consists of personal consumption expenditures, producers' durable equipment, and

government purchases.NOTE.— Table 21: "Final sales" is classified as durable or nondurable by type of product.

"Change in business inventories" is classified as follows: For manufacturing, by the type ofproduct produced by the establishment holding the inventory; for trade, by the type of prod-uct sold by the establishment holding the inventory; for construction, durable; and for otherindustries, nondurable.

Tables 22 and U: The industry classification within the business sector is on an establish-ment basis and is based on the 1972 Standard Industrial Classification.

1976 1977

1977

II III IV I

Seasonally adjusted


II

1978

III*

Table 24.—Implicit Price Deflators for Net National Product andNational Income by Sector (7.7)



Business . . __ _NonfarmFarmResidual _ _

Households and institutions .Government . .

Rest of the world

National income

Domestic income

BusinessNonfarm _ _Farm

Households and institutions.Government

Rest of the world

132.9

132.5

132.2132.2146.3

138.7132.2

134.0

133.5

133.5133.6127.5

138.7132.2

140.6

140.0

139.4139.9143.3

148.3141.3

142.3

141.6

141.4141.7129.2

148.3141.3

139.9

139.3

138.8139.2146.8

146.9140.2

141.4

140.7

140.5140.9129.2

146.9140.2

141.5

140.9

140.4141.2131.2

149.4141.4

143.2

142.5

142.4143.2115.5

149.4141.4

143.4

142.9

142.1142.6145.4

151.1145.5

145.6

145.0

144.6144.8141.2

151.1145.5

145.9

145.3

144.4144.6163.0

157.1147.9

148.1

147.4

146.8146.7150.8

157.1147.9

149.8

149.2

148.6148.3192.6

159.2149.9

152.2

151.5

151.3150.7176.1

159.2149.9

152.2

151.5

151.0

180.0

161.5151.9

164.4

161.5151.9

Table 25.—Implicit Price Deflators

Auto output

Final sales . .


New autosNet purchases of used

autos

Producers' durable equip-ment _

New autosNet purchases of used

Exports __Imports


Change in business inven-tories of new and used


autos ' _ _Sales of imported new autos *_.

124.9

124.6

131.1122.2

109.8122.1

121.9143.6

120.5

122.1122.2

130.9

131.2

139.0128.6

114.9128.6

128.9154.2

126.0

128.6128.6

129.6

130.3

138.1127.4

111.5127.4

127.9148.9

122.4

127.5127.4

for Auto Output (7.9)

130.4

130.7

138.7129.1

116.1129.1

130.0157.7

128.7

129.2129.1

134.3

133.8

141.3132.2

123.0132.2

132.2163.6

134.3

132.2132.3

136.4

135.9

145.3135.0

124.5134.9

133.0172.4

135.9

134.7135.0

139.4

138.6

147.7137.5

126.8137.5

135.3175.4

137.8

137.3137.5

142.4

142.2

151.9140.3

129.2140.3

140.4178.9

142.0

140.3140.3

Table 26.—Implicit Price Deflators for Personal ConsumptionExpenditures by Major Type of Product (7.11)

Personal consumptionexpenditures

Durable foods

Motor vehicles and partsFurniture and household

equipmentOther

Nondurable goods

FoodClothing and shoes .Gasoline and oilFuel oil and coalOther _„.

Services - .

HousingHousehold operation

Electricity and gasOther

TransportationOther -

133.1

124.4

128.4

120.7122.9

138.2

142.1117.8164.9211.7131.7

131.6

123.5138.2154.2127.3128.5136.9

140.7

129.5

135.8

123.8126.9

145.0

148.5122.3174.4239.4139.0

141.0

131.5147.2169.5132.1143.3146.6

139.9

128.9

134.8

123.5126.2

144.7

148.5121.8175.2239.8137.9

139.7

130.4145.2166.8131.3141.6145.6

141.6

129.5

135.7

124.1127.2

145.7

149.4123.0173.7243.3140.0

142.3

132.4149.1172.9132.8145.3147.9

143.2

130.9

137.9

124.7128.2

147.0

150.7123.5176.8244.8142.0

144.4

134.8150.1174.1134.1148.2150.0

146.2

133.1

141.3

125.7130.1

150.4

155.6124.0178.2247.2143.7

147.1

137.3152.7176.1135.8150.7152.8

149.3

135.7

144.0

128.0132.1

154.4

162.6125.9178.4252.1145.5

149.9

140.0156.0184.2137.6153.3155.7

151.6

137.8

147.7

129.5133.4

156.1

164.9126.0181.4253.8148.1

152.7

142.4159. 6188.5140.3155.8158.6


October 1978 SUEVEY OF CURRENT BUSINESS 19

1976 1977

Percent

1977

II III IV

1978

I II III*

Seasonally adjusted

Percent at annual rate

Table 27.—Percent Change From Preceding Period in Gross Na-tional Product in Current and Constant Dollars, Implicit PriceDeflator, and Price Indexes (8.9)

Gross national product:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price

index

Personal consumption expend-itures:

Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index..

Durable goods:Current dollars1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price

index

Nondurable goods:Current dollars1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price

index

Services:Current dollars1972 dollars. . . .Implicit price deflator...Chain price indexFixed-weighted price

index

Gross private domestic invest-ment:


Fixed investment:Current dollars1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price

index

Nonresidential:Current dollars1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price

index

Structures:Current dollars1972dollarsImplicit price deflator.Chain price indexFixed-weighted price

index

Producers' durab leequipment:

Current dollars1972 dollarsImplicit price deflator.Chain price indexFixed-weighted price

index

Residential:Current dollars. _1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price

index

11.25.75.25.6

5.6

11.45.85.35.35.3

18.111.85.65.6

5.8

8.24.43.73.6

3.6

12.25.06.86.8

6.9

27.321.6

15.59.45.55.9

5.9

9.64.74.75.4

5.2

6.63.33.12.8

2.5

11.35.35.76.8

7.0

32.523.47.37.3

7.3

11.04.95.96.2

6.3

10.74.75.75.95.9

13.9

4.14.3

4.4

8.23.24.94.9

11.84.47.27.2

7.3

22.613.2

21.312.47.97.8

8.2

15.79.16.06.2

6.3

11.44.46.76.5

6.3

17.911.45.86.0

6.3

34.820.511.811.8

11.8

14.05.97.77.3

7.4

7.31.45.96.86.9

5.64.11.52.6

2.8

6.7.1

6.67.2

7.4

8.41.56.97.7

7.8

38.525.7

27.516.010.09.6

9.9

15.37.57.27.6

7.6

30.919.99.29.5

8.5

8.32.55.66.7

7.1

57.837.814.514.1

14.1

11.15.75.14.6

4.7

9.04.14.84.64.6

4.02.02.01.4

1.2

5.32.52.72.9

2.9

14.16.17.57.2

7.3

20.59.7

13.95.38.28.2

7.9

14.15.38.38.2

7.9

12.97.65.07.5

6.6

14.74.3

8.6

8.6

13.55.27.98.0

8.0

8.93.25.56.5

6.8

14.19.04.75.05.0

24.119.04.34.4

4.7

15.111.23.63.9

3.9

10.13.96.06.2

6.2

5.1- 2 . 9

18.87.1

11.010.8

10.9

14.85.39.0

13.42.0

11.19.2

8.9

15.6

8.28.6

8.4

27.311.114.615.1

14.9

7.1-i

7^27.1

7.0

7.0- 1 . 4

8.67.77.9

- 7 . 7-13.7

7.07.2

7.5

3.7- 5 . 5

9.88.4

8.6

15.37.07.77.3

7.3

12.211.3

7.51.26.26.5

6.5

11.14.26.76.7

6.7

6.3- . 36.65.9

6.2

13.66.26.97.2

7.1

.5-5.2

6.06.1

6.2

20.68.7

11.010.8

11.0

15.36.08.7

10.010.2

35.125.28.08.2

8.4

15.03.6

11.012.5

12.8

9.81.97.88.4

8.4

31.315.2

27.815.310.811.9

12.5

31.221.38.29.2

9.7

56. 540.311.512.4

12.5

19.813.65.57.6

8.0

21.02.7

17.917.6

17.5

10.73.47.07.1

7.2

9.93.46.36.66.6

3.0- 3 . 1

6.36.3

6.4

8.03.54.45.4

5.5

13.95.77.87.7

7.7

7.5-4.2

11.3

11.911.3

11.5

10.0- . 210.19.3

9.4

16.0

11.711.8

11.8

6.8- 2 . 0

9.08.0

7.9

14.0- 1 . 515.815.5

15.2

1976 1977

Percent

1977

II III IV

1978

I II III*

Seasonally adjusted

Percent at annual rate

Table 27.—Percent Change From Preceding Period in Gross Na-tional Product in Current and Constant Dollars, Implicit PriceDeflator, and Price Indexes^Con.

Exports:Current dollars1972 dollarsImplicit price deflatorChain price index.Fixed-weighted price index. .

Imports:Current dollars.1972 dollarsImplicit price deflatorChain price index.Fixed-weighted price index..

Government purchases ofgoods and services:


Federal:Current dollars1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price

index

State and local:Current dollars1972 dollarsImplicit price deflator...Chain price index.Fixed-weighted price

index..

Addenda:

Final sales:Current dollars1972 dollarsImplicit price deflator...Chain price index . . .Fixed-weighted price

index

Gross domestic product:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index..

Business:Current dollars1972 dollarsImplicit price deflator...Chain price index _Fixed-weighted price

index

Nonfarm:Current dollars1972 dollarsImplicit price deflator.Chain price indexFixed-weighted price

index.

Disposable personal income:Current dollars1972 dollars

10.86.54.03.73.1

22.819.32.92.72.2

6.2.1

6.16.25.9

5.5.1

5.45.6

5.4

6.6.1

6.56.5

6.2

9.84.35.25.6

5.6

11.05.65.25.75.7

11.46.34.85.4

5.4

12.46.65.45.5

5.5

9.03.5

7.52.45.15.05.2

19.810.28.77.57.8

9.62.47.07.07.0

11.75.26.26.3

6.5

8.4.8

7.57.4

7.3

10.84.75.86.2

6.3

10.94.85.86.16.3

11.35.45.66.0

6.2

11.45.25.96.2

6.4

10.04.1

17.77.89.28.88.5

10.69.8.7

7.88.4

15.58.07.07.27.1

14.010.72.93.8

3.8

16.46.39.59.2

9.3

12.54.67.67.3

7.4

13.95.87.77.47.5

15.16.58.17.8

7.9

15.26.28.57.9

8.0

12.56.2

6.47.6

- 1 . 2- . 5

A

8.51.47.16.05.7

11.55.85.45.05.0

11.36.44.63.6

3.6

11.65.45.95.8

5.9

10.15.04.84.6

4.7

11.25.85.14.54.6

11.66.05.34.6

4.7

11.95.16.46.1

6.2

10.95.9

-18.0-17.6

- . 5- . 2

A

16.822.8

- 4 . 92.63.1

13.74.29.09.5

10.2

15.72.9

12.414.2

14.7

12.55.17.16.9

7.4

11.04.76.06.6

6.9

9.53.55.86.77.0

8.63.55.06.1

6.3

7.93.64.15.1

5.3

12.97.8

24.313.79.48.58.1

23.415.27.1

12.312.3

4.1- 3 . 5

7.97.36.6

- 2 . 0- 8 . 9

7.66.1

4.9

7.8- . 18.08.0

7.8

6.4- 1 . 6

8.07.0

7.0

6.7A

7!l7.0

5.8- . 86.76.7

6.7

7.01.15.85.4

5.3

9.81.1

63.443.314.013.712.9

10.33.76.43.72.9

7.9- . 28.27.57.8

-10 .9-15 .3

5.25.0

4.5

19.99.69.59.0

10.0

20.08.6

10.510.8

11.0

20.18.3

10.910.911.0

22.59.5

11.911.8

12.1

22.911.110.610.7

10.8

12.53.5

11.13.87.07.17.6

12.81.7

10.99.8

10.0

16.69.07.0

26.721.14.64.1

3.6

11.42.68.68.3

8.8

11.34.07.07.1

7.2

10.73.57.07.07.2

11.43.97.37.3

7.5

9.12.6

v Preliminary.

NOTE.—Table 27: The implicit price deflator for GNP is a weighted average of the detailedprice indexes used in the deflation of GNP. In each period, the weights are based on thecomposition of constant-dollar output in that period. In other words, the price index for eachitem is weighted by the ratio of the quantity of the item valued in 1972 prices to the totaloutput in 1972 prices. Changes in the implicit price deflator reflect both changes in prices andchanges in the composition of output. The chain price index uses as weights the compositionof output in the prior period, and, therefore, reflects only the change in prices between thetwo periods. However, comparisons of percent changes in the chain index also reflect changesin the composition of output. The fixed-weighted price index uses as weights the compositionof output in 1972. Accordingly, comparisons over any timespan reflect only changes in prices.


Key Source Data and Projections for National Income andProduct Estimates: Third Quarter 1978

A,L M O N G the recommendations of theAdvisory Committee on Gross NationalProduct Data Improvement was thatBE A provide a statement of the judg-ments used in preparing the first pub-lished estimates of the quarterly na-tional income and product accounts(NIPA's).1 When this estimate is pre-pared—about 15 days after the end ofthe quarter—most source data are in-complete or preliminary. Where sourcedata are incomplete, BE A projectsthem through the last month of thequarter or for the quarter as a wholeusing a combination of judgment andextrapolation. Tables 1 and 2 show thekey source data and projections, andidentify the source data that are sub-ject to revision. Table 1 shows thisinformation for the current-dollar GNPestimates. Table 2 shows it for the priceindexes used in the deflation of current-dollar GNP.

The quarter-to-^quarter change thatcan be derived from the key sourcedata and projections in tables 1 and 2does not always correspond exactly tothat in the NIPA estimates. Differencesarise because of: 1. Use of source datanot shown in the tables; 2. reweightingof components of the source data inBEA's estimating methodologies; and3. adjustments to source data, whichare made occasionally by BEA on thebasis of special information or judg-ment. For some NIPA estimates, source

1. The Advisory Committee on Gross National ProductData Improvement was appointed in 1973 by the StatisticalPolicy Division of the Office of Management and Budget.A summary of the Committee's recommendations was pub-lished in the September 1977 issue of the Statistical Reporter.The full report will be released soon.

data are not shown because they cannotbe conveniently summarized.

For some source data, BEA makes itsown seasonal adjustment; for these dataBEA is identified in the tables as thesource of the seasonal adjustment. In afew instances, the tables show seriesderived by BEA by a major reworkingof the original source data. For theseseries, both the source agency and BEAare identified as the source agency.

Information similar to that in table 1,covering charges against GNP in thenational income and product account aswell as the other summary accounts, isavailable on request from the NationalIncome and Wealth Division of BEA.Beginning with the next 15-day esti-mate, tables presenting the key sourcedata and projections covering all of thesummary accounts will be availableshortly after the release of the estimates.

Tables 1 and 2

NOTE.—Projections of source data prepared by BEA are in italics. Estimates issued by asource agency that are subject to revision are identified by an asterisk. The units in which thesource data are shown generally correspond to those used by the source agency.

Abbreviations for Source Agencies

AGA—American Gas AssociationAHA—American Hospital AssociationAPI—American Petroleum Institute

BEA—Bureau of Economic AnalysisBLS—Bureau of Labor Statistics

Census—Bureau of the CensusCPI—Consumer Price Index—All urban consumersCSC—Civil Service Commission

DOD—Department of DefenseDT—Department of Treasury

EEI—Edison Electric InstituteFCC—Federal Communications CommissionFHA—Federal Highway Administration

HEW—Department of Health, Education, and WelfareMVMA—Motor Vehicle Manufacturers Association

NCSBCS—National Conference of States on Building Codes and StandardsPolk—R. L. Polk & CompanyPPI—Producer Price Index

Turner—Turner Construction CompanyWards—Wards Automotive Reports

20



Table 1.—Key Source Data and Projections for the Quarterly Current-Dollar Estimates of the Gross National Product[Billions of dollars (except where noted), seasonally adjusted]

NIP A Estimates (Annual rates)

Gross national Droduct

Personal consumption ex-penditures.

1) Motor vehicles and parts. __

2) Gasoline and oil

3) Other goods

4) Hotisinfif services

5) Electricity

6) Natural gas

7) Telephone- _ .._ .

8) Privately controlled hos-pitals and sanitariums.

Q Other services

Gross private domestic in-vestment.

Fixed investment

Nonresidential

Structures

1) Buildings, utilitiesand farm.

2) Oil and gas welldrilling and ex-ploration.

3) other

Producers' durableequipment.

1) Motor vehicles

2) Aircraft

I

1,992.0

1, 276. 7

84 1

48.3

552.5

198 1

28.2

15.1

21.6

53.1

275 7

322.7

306 0

205 6

68 5

57.1

10.2

1 2

137.1

39.7

3.1

1978

I I

2,087.5

1, 322. 9

92 5

49.1

573.8

204 1

27.2

14.3

22.0

54.8

283 4

345 4

325 3

220 1

76 6

63.5

11.6

1 5

143.5

44.4

i

3.2

I I I

2,141.1

1, 354. 5

90 0

50.8

587.9

209 6

29.0

14.9

22.5

56.2

293 6

351.7

334 1

225 4

79 5

65.8

12.0

1 6

145 9

42.2

3.5

1) New motor vehicles.. __ _ .

Domestic autos:Retail sales (mil. annual rate)Average unit value (dollars)

Imported autos:Retail sales (mil. annual rate)Average unit value (dollars)

Consumer share of new auto pur-chases (percent).

Trucks:Retail sales (thous.) _ _Average unit value (dollars) _.

Consumer share of new truck pur-chases (percent).

2) Automotive gasoline sales (bil. gal.).

CPI Gasoline (1967 = 100)

3) Sales of all retail stores less buildingmaterials group, motor vehicledealers, and gasoline service sta-tions (mil. $).

4) Housing stock (mil.). _ _ .

CPI, Rent, residential (1967 = 100) __

5) Revenue from sales to ultimate resi-dential customers.

CPI, Electricity (1967-100)

6) Sales of gas to ultimate residentialconsumers (tril. Btu.).

C PI, U tility (piped) gas (1967 = 100).

7) Local telephone revenues (mil. $)._.

8) Total expenses of community hos-pitals (mil. $).

9)

1) Value of new nonresidential con-struction put in place (annual rate).

2) Oil and gas drilling footage (mil. ft.) _

Cost per foot (dollars)

3) . _._

1) See personal consumption expendi-tures for retail sales and averageprices of trucks and autos:

Business share of new motor vehiclepurchases (percent):

Trucks

Autos

2) Manufacturers' shipments of com-plete civilian aircraft (mil. $).

Key Source Data and Projections

I 1 Apr.

8.76, 506

2.15,64169.5

934.19,05625.7

8.9

192.2

125, 875

72.4

159.7

6.4

195.0

1, 325. 7

250. 0

4, 684.2

14, 240. 8

57.3

52.5

47 10

68.8

29.8

1,186. 0

10.26,527

2.15,78369.7

337.39,07625.5

9.1

192.5

43, 707

72.5

161.5

2.0

200.7

413.6

256.4

1, 538. 6

4, 838.8

61.3

19.2

69.3

29.3

407.2

May

10.06,582

2.15,68170.0

331.59,15125.2

9.0

192.4

43, 853

72.6

162.7

2.0

204.5

414.5

260.2

1, 621.2

4, 897. 5

61.9

19.0

69.5

28.9

340.5

June

9.76,764

2.05,68368.8

349.69,25825.1

8.9

192.3

43, 865

*72.8

163.6

2.2

209.9

390.2

261.9

1,611.8

4,949. 3

65.7

21.3

69.9

30.1

553.6

1978

I I

10.06,623

2.15,71670.0

1, 018. 49,16325.3

9.0

192.4

131,425

*72.8

162.6

6.2

205.0

1,169.0

259. 5

4, 771. 6

14, 685. 6

63.0

59.6

49 50

69.6

29.4

1, 301.3

July

9.16,821

1.95,79667.0

316.59,50624.7

9.1

193.7

44,195

*72.9

164.4

2.2

209.5

395.1

263.7

1, 619. 6

4, 988. 2

65.9

20.5

69.9

31.9

521.7

Aug.

9.96,785

2.05, 82569.2

344.19,16526.8

9.3

195.7

*44, 498

73.1

165.3

2.2

209.2

416.8

267.5

1, 624. 6

5,011.2

*64.9

19.5

68.1

29.7

*763.1

Sept.

8.9*6,718

1.9*5,850

69.2

*284. 49,49125.1

9.2

197 7

*45,199

73.2

166.1

2.2

210.2

422.2

269.3

1, 630. 0

5,034. 2

64.9

20.2

68.7

29.6

618.7

I I I

9.3•6, 775

2.0•5, 824

69.0

*945. 09,37725.5

9.2

195 7

*133, 892

73.2

165.3

6.6

209.6

1, 234.1

266.8

4, 874. 2

15, 033. 6

65.3

60.1

60.80

68.9

30.4

1, 903. 5

SourceAgency

MVMABEA

WardsBEAPolk-

BEA

MVMABEAPolk-

BEA

TradeSource

BLS

Census

BEA

BLS

EEI

BLS

AGA

BLS

FCC

AHA

Census

API

BEA

Polk-BEA

Polk-BEA

Census

Source ofSeasonalAdjust-ment

BEABEA

BEABEABEA

BEABEABEA

BEA

BEA

Census

BEA

BEA

BEA

BEA

BEA

BEA

BEA

BEA

Census

BEA

BEA

BEA

BEA

BEA


22 SURVEY OF CURRENT BUSINESSTable 1.—Key Source Data and Projections for the Quarterly Current-Dollar Estimates of the Gross National

[Billions of dollars (except where noted), seasonally adjusted]

October 1978

Product—Continued

NIPA Estimates (Annual rates)

Nonresdential—Producers' durable

equipment—Con-tinued

3) Other __

Residential .

Change in business inven-tories.

Nonfann

1) Manufacturing andtrade3

2) Other .

Farm


Exports __

Merchandise _

Other

Imports

Merchandise

Other _

Government purchases ofgoods and services.

Federal

State and local

1) Compensation of em-ployees.

2) Structures

3) Medical vendor pay-ments.

4) Other

1978

I

94.3

100.3

16.7

16.9

21.4

—4.5

—0.2

-24.1

181.7

122.7

59.0

205.8

167.5

38 3

416.7

151.5

265 2

151.1

29 1

16.8

68.3

II

95.9

105.3

20.1

22.1

19.1

3.0

—2 0

- 5 . 5

205.4

140 3

65 1

210.9

171.5

39 4

424.7

147.2

277 6

154.1

35 8

17.3

70.5

III

100.2

108.8

17.6

18.6

16.7

1.9

—1.0

- 6 . 5

210 9

145.2

65.7

217.3

177.2

40 1

441.3

156.1

285 2

157.0

38 1

17.7

72.5


3) Manufacturers' shipments of non-defense capital goods (mil. $).

Capital goods purchased by busi-ness (annual rate).

New equipment expenditures (an-nual rate).

Value of new residential constructionput in place (annual rate).

New single family housing unitsstarted (thous. annual rate).

Manufacturers' shipments of mobilehomes (thous. annual rate).

1) Change in book value of inventories:

Manufacturing (mil. $) _ _.

Merchant wholesalers (mil. $ ) . . ___

Retail trade (mil. $)

PPI (1967=100):

Farm products and processed foodsand feeds.

Industrial commodities

Inventory book value price indexes(1972=100):

Food and farm products .

Other

2)

U.S. exports of merchandise

U.S. imports of merchandise

Federal purchases (cash basis, notseasonally adjusted).

1) State and local government em-ployment (thous.).

2) New construction Dut in Dlace (an-nualrate).

3) Medical vendor payments underfederally assisted and other stateprograms (annual rate).

4)

1978

I

47,081

109.5

122.0

84.3

1,229

291

4,146

4,884

2,024

196.7

203.0

146.3

146 1

30 8

40.5

36.1

12,629

28 5

16.8

Apr.

16,598

116.5

92.4

1,492

252

1,855

1,985

866

206.2

205.8

148.7

147 0

11 6

14.5

11.6

12,772

32 7

16.2

May

16,257

113.6

94.5

1,478

258

1,974

607

1,100

207.2

207.2

150.4

147.7

11.8

14.0

12.4

12,802

37 2

18.4

June

16,782

116.6

94.9

1,441

263

1,868

346

480

209.3

208.4

151.7

148 6

12 1

13.7

12.6

12,832

37 0

17.2

II

49,637

115.6

123.8

94.0

1,470

257

5,697

2,938

2,446

207.6

207.1

151.7

148.6

35.5

42.2

36.6

12,802

35 6

17.3

July

16,819

116.8

94.0

1,453

232

1,610

-156

927

207.5

209.7

150.9

149.4

11.8

14.8

11.3

12,784

38 0

17.5

Aug.

•17,339

•120.2

•92.7

•1,442

242

•1,684

•-126

•1,210

205.3

211.1

150.3

150.2

12.5

14.1

14.2

•12,764

•38 1

17.7

Sept.

17,641

121.6

98.1

1,420

u$

1,707

988

779

•208.6

•212.3

•151.4

•151.9

12.8

14.6

14.2

•12,747

87.8

17.9

III

61,699

119.6

U26.6

98.8

U4B8

289

6,001

661

2,916

•207.1

•211.0

•151.4

•151.9

86.6

43.4

89.6

•12,765

88 0

17.7

SourceAgency

Census

Census-BEA

BEA

Census

Census

NCSBCS

Census

Census

BEA

BLS

BLS

BLS-BEA

BLS-BEA

Census

Census

DT-BEA

BLS

Census

HEW-BEA

Source ofSeasonalAdjust-ment

Census

Census

BEA

Census

Census

BEA

Census

Census

BEA

BLS

BLS

BEA

BEA

Census

Census

BEA

BEA

BEA

BEA

1. Planned.2. Excludes nonmerchant wholesalers.


October 1978 SUEVEY OF CURRENT BUSINESS

Table 2.—Key Source Data and Projections for the Deflation of Current-Dollar Gross National Product

23

GNP Implicit Price Deflators

Seasonally adjusted index numbers, 1972=100

Personal consumption expend-itures.

1) Motor vehicles andparts.

2) Furniture and house-hold equipment.

3) 0 ther durable goods

4) Food. .

5) Clothing and shoes

6) Gasoline and oil

7) Fuel oil and coal

8) Other nondurablegoods.

9) Housing services10) Household operation

11) Transportation services.

12) Other services

Gross private domestic in-vestment.

Fixed investment

Nonresidential

1) Structures ._

2) Producers' durableequipment.

Residential

1) Structures

2) Producers' durableequipment.

Change in business inven-tories.


Exports _

Merchandise

Other _.

ImportsMerchandise

Other

Government purchases ofgoods and services.

1978

I

146.2

141.3

125.7

130.1

155.6

124.0

178.2

247.2

143.7

137.3152.7

150.7

152.8

158.2

153.6

167.2

147.6

168.6

169.5

128.8

183.3

181.3

187.6

213.8224.8

176.3

153.2

II

149.3

144.0

128.0

132.1

162.6

125.9

178.4

252.1

145.5

140.0156.0

153.3

155.7

162.3

156.7

171.8

149.6

175.7

176.7

131.8

189.4

188.4

191.7

217.2227.9

180.4

156.2

III

151.6

147.7

129.5

133.4

164.9

126.0

181.4

253.8

148.1

142.4159.6

155.8

158.6

167.0

160.5

176.6

152.9

182.2

183.3

133.4

192.6

191.4

195.5

222.9234.2

183.6

158.9


1) CPI, New cars

CPI, Used cars

2) CPI, Furniture and beddingCPI, Household appliances .__

3)

4) CPI, Food at homeCPI, Food away from home

5) CPI, Women's and girls' apparel..CPI, Men's and boys' apparelCPI, Footwear

6) CPI, GasolineCPI, Motor oil, coolant, and other

products.

7) CPI, Fuel oil

8) CPI, Tobacco productsCPI, Medical care commoditiesCPI, Toilet goods and personal care

appliances.

9) CPI, Rent, residential10) CPI, Electricity

CPI, Utility (piped) gasCPI, Telephone service

11) CPI, Automobile maintenanceand repair.

12)

1) Federal Highway Administrationcost index for highway structures(1972=100).

Turner Construction Companyconstruction cost index (1972=100).

2) PPI , Finished goods, capital equip-ment.

1) Bureau of the Census index on newone-family houses (1972=100).

2)

Nonfarm inventory change priceindexes:

Food and farm products

Other. _ _ .

Unit value index, U.S. exports ofmerchandise.

Unit value index, U.S. imports ofmerchandise.

Seasonally adjusted index numbers, 1967=100, except where noted

1978

I

149.9

180.3

161.3143.4

199.3210.5

148.8156.4160.1

192.2172.6

288.9

172.8140.0173.2

159.7195.0250.0132.3213.4

156.6

141

193.3

170.5

188.8

197.2

218.2

283.1

Apr.

151.4

181.8

164.1145.2

207.5214.0

150.7156.2161.2

192.5174.5

293.4

173.7141.7173.2

161.5200.7256.4132.7215.7

195.6

174.0

196.3

200.2

222.8

286.6

May

152.8

183.5

164.7147.3

210.8215.8

151.6156.6162.7

192.4174.3

294.7

174.2142.6175.1

162.7204.5260.2132.7217.5

197.3

179.5

197.9

201.1

223.3

288.8

June

154.1

186.6

165.8148.0

213.7218.2

151.1157.6162.9

192.3174.8

296.0

175.1143.3174.9

163.6209.9261.9132.^219.7

198.9

181.6

199.1

202.3

233.6

292.7

II

152.8

184.0

164.9146.8

210.7216.0

151.1156.8162.3

192.4174.5

294.7

174.3142.5174.4

162.6205.0259.5132.7217.6

167.8

144

197.3

178.4

197.8

201.2

226.6

289.4

July

155.3

187.8

165.2148.0

213.4219.9

150.6158.0163.2

193.7175.1

296.0

180.1143.9176.5

164.4209.5263.7132.9221.3

199.0

184.5

197.8

203.7

232.9

294.5

Aug.

155.8

188.0

165.9149.4

213.4221.7

150.4157.5163.8

195.7176.5

296.6

180.8144.6177.9

165.3209.2267.5133.2222.7

200.6

186.1

195.4

205.4

236.6

295.0

Sept.

166.3

189.2

166.6160.4

213.4223.0

160.2168.1164.6

197.7177.6

297.2

181.9145.3179.0

166.1210.2269.3133.6224.3

201.8

186.1

*198.7

*206.4

234.2

298.2

III

166.8

188.3

166.9149.3

213.4221.6

160.4167.9163.9

195.7176.4

296.6

180.91U.6177.8

165.3209.6266.8133.2222.8

167.8

146

200.5

185.6

•197.3

•205.2

234.6

295.9

SourceAgency

BLS

BLS

BLSBLS

BLSBLS

BLSBLSBLS

BLSBLS

BLS

BLSBLSBLS

BLSBLSBLSBLSBLS

FHA-BEA

Turner-BEA

BLS

Census-BEA

BLS-BEA

BLS-BEA

Census

Census

Source ofSeasonalAdjust-

ment

BEA

BEA

BEABEA

BEABEA

BEABEABEA

BEABEA

BEA

BEABEABEA

BEABEABEABEABEA

BEA

BEA

BLS

BEA

BEA

BEA

BEA

BEA


BY ROBERT B. BRETZFELDER

State Personal Income, 1978:1-1978:11

personal income increased3% percent from the first to the secondquarter of 1978. Real income increasedabout 1 percent, as consumer prices (asmeasured by the implicit price deflatorfor personal consumption expenditures)increased by a little more than 2 per-cent. The increase in current-dollar in-come exceeded the national increase inconsumer prices in 40 States, was aboutequal to it in 8 States, and fell short ofit in 2 States and the District ofColumbia.

State nonfarm income also increasedsy4 percent.1 Nonfarm income increasedin all States (and the District of Colum-bia) except Alaska, where it declined 2percent. The largest increases were inWest Virginia (15% percent) and Ken-tucky (7}{ percent), where coal miningresumed after the first-quarter strike.

Most of the 21 States with average orabove-average increases in nonfarm in-come had been adversely affected bythe severe weather in the first quarter,when they registered below-average in-creases in nonfarm income. Some, inaddition, had been adversely affectedby the coal strike. Many of the Stateswere in, or adjacent to, the Northeast-Great Lakes manufacturing belt andthe Appalachian coal fields (chart 9).Many of the remaining 29 States, wherenonfarm income increased at rates be-low the national average, had been rel-atively unaffected by the severe weath-er and the coal strike in the first quarter,

1. The discussion is in terms of changes in nonfarm incomein order to abstract from the erratic changes to which farmincome is subject.

24

when they registered above-averageincreases in nonfarm income.

In the second quarter, as in the first,much of the State-to-State variation innonfarm income gains was attributableto changes in mining, construction, andmanufacturing payrolls. Some, in addi-tion, was attributable to changes ingovernment payrolls. The accompany-ing tabulation highlights variation be-tween average or above-average Statesand below-average States in these pay-rolls and in other income componentsthat can be related to them.

In the average or above-averageStates as a group, mining payrolls in-creased 81M percent, reflecting theresumption of work after the first-quarter coal strike. Large increases inmining payrolls were responsible formuch of the strength in nonfarm incomein West Virginia, Kentucky, Alabama,Pennsylvania, Virginia, and Indiana,and were at least partly responsible forthe strength in Ohio and Maryland. Inthe below-average States, mining pay-rolls increased only I7}i percent. Largeincreases, however, were registered inIllinois and Missouri, both of which hadalso been adversely affected in the firstquarter by the coal strike.

Construction payrolls in the averageor above-average States increased 13%percent. The largest increases tended tobe in States that had been most affectedby the severe weather in the first quar-ter. In the below-average States, con-struction payrolls increased only 6%percent. These payrolls declined inAlaska and were especially weak in

Idaho, Maine, Colorado, Louisiana,Mississippi, Oregon, and South Dakota.

Manufacturing payrolls in the aver-age or above-average States increasednearly 4 percent. The largest increaseswere in Delaware, Massachusetts,Rhode Island, Connecticut, and Mary-land, as durables manufacturing ac-celerated. In the below-average States,manufacturing payrolls increased only2% percent. These payrolls declined inSouth Dakota and Alaska, and increasedonly slightly in Mississippi, Hawaii, andMontana.

Reflecting strength in mining, con-struction, and manufacturing, and alsoin government payrolls (both Federalcivilian and State and local), payrolls inprivate service-type industries (in par-ticular, the transportation-communica-tion-public utilities group) and nonfarmproprietors' income (in particular, con-struction proprietors' income) increasedsubstantially more in the average orabove-average States than in the below-average States, and State unemploy-ment insurance benefits declined sub-stantially more.

Table A.— Percent Change, 1978:1-1978:11

Nonfarm incomeWage and salary disburse-

ments:Mining __ConstructionManufacturingGovernmentPrivate service-type in-

dustries 2

Nonfarm proprietors' in-come

State unemployment insur-ance benefits

UnitedStates

3.2

43.911.33.21.2

3.3

3.8

-18.9

Averageor above-averageStates i

4.6

81.313.83.91.9

3.7

4.3

-24.6

Below-averageStates i

2.4

17.26.62.3

2.8

3.0

-16.1

1. Grouped by changes in nonfarm income.2. Consists of wholesale and retail trade, the finance-

insurance-real estate group, the transportation-communica-tion-public utilities group, and services.


Nonfarm Income: Percent Change—1978:1 - 1978: II

CHART 9

Ooo*8"

s00

Average or Above Average

3.2 to 15.6%

Below Average

-2.1 to 3.1%

oo

GO


to


26 SUEVEY OF CUERENT BUSINESS October 1978

Table 1.—Total Personal Income, States and Regions[Millions of dollars, seasonally adjusted at annual rates]

State and region

1975

II III IV

1976

II III IV

1977

II III IV

1978

II

United States

New England

ConnecticutMaineMassachusettsNew Hampshire.Rhode IslandVermont

Mideast

DelawareDistrict of Columbia-MarylandNew JerseyNew YorkPennsylvania

Great Lakes

IllinoisIndianaMichiganOhioWisconsin

Plains

IowaKansasMinnesotaMissouriNebraskaNorth DakotaSouth Dakota

Southeast

AlabamaArkansasFloridaGeorgiaKentuckyLouisianaMississippiNorth CarolinaSouth Carolina..TennesseeVirginiaWest Virginia

Southwest

ArizonaNew MexicoOklahomaTexas

Rocky Mountain

ColoradoIdahoMontanaUtahWyoming

Far West

CaliforniaNevadaOregonWashington

AlaskaHawaii

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

1,197,357

70,999

20,5234,80334,1354,1925,1282,218

263,573

3,6604,92325,40648,245114,59666,742

238,106

72,55628,65952,21260,00524,674

90,513

16,01912,91921,61224,8188,4953,4493,200

229,080

15,9419,02145,08123,69615,74417,4329,01325,39012,45219,14127,6168,554

95,174

11,4355,24513, 66364,830

30,046

14,4583,9613,7965,6402,191

171,217

133, 6063,73412,51921,358

3,0985,553

1,230,670

72,602

20,8844,94734,8994,3255,2632,284

269,511

3,7325,10525,97149,227117,15668,320

243,599

74,39129, 20553,56561,09025,348

94,283

16,69013,37622,33225, 7569,0513,7063,372

236,148

16,3949,30546,23224,42716,27018,0089,30226,46012,93719,71628,3148,783

98,227

11,6985,43814,09766,994

31,093

14,9874,1373,9345,7822,253

176,163

137,2133,85412, 94022,155

3,3635,680

70,999229,583238,10690,513176, 77759,839104, 94750,460176,134

1,267,216

74,254

21,1975,11935,7354,4675,3812,354

275,528

3,8405,24526,69050,396119,14970,207

251,210

76,42730,33155,45562, 75626,242

97,836

17,24513,90823,11426,6459,3864,0083,530

243,340

17,1019,84547,21625,04216,82518,5389,61927,36513,29220,36329,1339,002

101,988

12,1205,67014,63369,564

32,244

15,4994,2864,1295,9972,333

181,346

141,2433,95613,44722,700

3,6935,776

1,298,542

76,121

21,7155,30036,5644,6075,4932,441

280,538

3,9405,39427,49551,427120,47971,802

257,477

78,29531,01057,09364,25626,823

99,179

17,49514,13423,59527,1939,3873,8393,538

250,315

17,5879,88947,91426,02117,36719,1409,95428,31313,85520,96429,9339,377

105,117

12,4455,80414,93571,933

33,175

15,9144,4634,2206,1542,424

186,772

145,4184,09813,80723,448

3,9015,947

1,333,366

77,877

22,0435,51337,4264,7445,6462,504

286,082

3,9655,50027,94952,406122,92973,332

264,704

79, 56432,09759,45566,20027,388

100,156

17,40414,59523,86927,7019,3613,7823,445

258,927

18,24510,20349, 73226,75617,94519,96410,34729,06514,34021,81830.8339,680

109,115

12,8866,02515,36974.834

34,140

16,3454,5944,2546,4142,533

192,460

149,8024,23214,31124,115

3,7666,140

1,356,675

79,018

22,3515,65837,9244,8475,6892,548

289,373

4,1455,60328, 60153,006123,26974, 747

271,040

81,15533,08861,18867, 75427,856

101,493

17,65114,83924,27628,1429,4663,7143,404

263,395

18,48410,26750,28927,30818,33920,44410,65129,50214,61722,17931,4229,894

111,282

13,2076,12115, 54976,405

34,481

16,6064,4274,2826,5762,590

196,331

152,9094,34014,58924,492

4,1036,160

1,385,519

81,150

22,9545,85538,8185,0265,8772,620

295,938

4,1555,74229,17954,270126,18176,411

275,539

82,62133,48161,98568,96228,490

102,873

17,72414,93224,89728,7299,4353,6723,484

268,573

18,85710.40450, 95327,76518,82820,76710,82130,31514,96622,61132,21510,070

113,933

13,4556,23315,84978,397

35.405

16,8444,9064,2416,7472,667

201,418

157,0964,45314,89424,975

4,3836,308

1,421,988

82,615

23,3975,97639,4895,1445,9432,666

300,635

4,2745,89529,69155,009128,00877,757

283,441

84,95234,35063,97270,76329,405

106,013

18,17415,46925,62029,7039,6823,7213,645

276,594

19,50010,81452,99828,43119,28921.54511,16530,79615,20123,24033,12510,490

117,950

13,9336,45916, 47081,088

36.546

17,4464,9884,3496,9832,779

207,512

161,6824,61515,44925,766

4,2806,401

1,462,670

85,249

24,2616,05740,7385,3096,1612,723

308,839

4,2685,99330,25856,843131, 79079,688

289,941

85,27635,35866,76972,17530,362

109,828

19,00115,87726,91530,35010,0683,8773,741

283,962

19,88611,25454,44229,24019, 70522,26311,49431,76815,63223,92033,74710,612

121,478

14,3526,71017,01583,401

37,545

17,9414,9904,4957,2252,894

214,725

167,1304,83216,07226,691

4,404

1,498,650

86,708

24,6866,15841,4415,4336,2082,782

314,816

4,4616,16431,18158,058133,21581,736

298,694

86,28936,70768, 97275,02831,698

113,476

19,68716,23527,96931,43210,2993,9203,934

291,554

20,48011, 65955,40329,96220,39822,90211,81932,48016,01224,57534,77311,092

124,858

14,7606,86417,51185,724

38,525

18,4195,0574,5947,4213,034

218,880

170,5874,94716,36826,977

4,4646,675

1,532,619

88,804

25,2886,27242,4145,6026,3962,832

321,587

4,5476,16531,36959,249136,49683,762

304,886

86,92037,36570,78977, 36832,443

115,938

19,84616,55428,42232,49010,4663,9754,185

298,828

21,02812,11757,30330,67020,74223,36112,11533,05316,31125, 07735, 75411,296

128,424

15,0517,01718,01188,345

39,238

18,8945,0774,6587,5083,101

224,018

174,5665,123

16,68927,640

4,1356,762

1,579,621

90,966

25,9846,39443,2635,8436,5622,919

328,091

4,6316,51932,54360,205138,85985,334

313,065

90,90038,13071,68778,66633,683

122,022

20,67517,71130,04133,50311,1314,4054,557

307,518

21,58412,48358,83931,56121,40024,22212,64733,86016,78825, 90536,71011,518

133,368

15,6077,29118,82291,648

41,183

19,7535,3854,8987,8853,263

232,211

180,5755,33517,47428,827

4,2416,956

1,616,817

93,313

26,4916,58544,4926,0636,6872,995

334,202

4,6886,61432,97961,537142,12286,262

320,357

92,74039,08973,89379,76734,867

123,817

21,59117,34230,93633,83511,1674,2744,672

314,668

22,19412,72960,90732,72521,35424,90412,86034,98617,29526,49437,32410,897

136,690

16,2617,52119,02493,884

42,287

20,3425,5084,9328,1363,367

239,886

185,8295,60218,29130,164

4,4197,179

Census regions

72,602234,703243, 59994,283181,96161,682108,40452,084181,352

74,254239,752251,21097,836186,82563,908112,58053,991186,859

76,121243,708257,47799,179192,24365,872115,89655,522192,522

77,877248,666264,704100,156197,82268,354120,37057,283198,134

79,018251,023271,040101,493201,38269,652122,66558,149202,254

81,150256,862275,539102,873205,36171,118125,41659,546207,655

82,615260,774283,441106,013210, 90273,193129,91861,553213,578

85,249268,320289,941109,828215, 95975,005133,93263,440220, 996

86,708273,010298,694113,476221,52777, 272137,79665,096225,071

88,804279,507304,886115,938226,46878, 962141,83466,429229, 791

90,966284,398313,065122,022232,97081,536147,17669,416238,073

93,313289,920320,357123,817238,41582,902150,54071,671245,881

1,670,128

97,114

27,4046,76446,6266,2596,9743,086

344,464

4,9026,69734,03563.587145,30989,935

330,915

95,80640,47275,76082,93735,939

127,390

21,98217,91631,99434,94511,4444,3334,775

326,426

22,99313,28262,55633,41222,93025.58813,21835,89717, 72227,33638,89212.589

141,383

16,8307,79419,83096,929

43,468

20,8105,6405,0358,4383,545

247,287

191,7895,76118,71631,020

4,3257,356

97,114298,830330,915127,390246,71386,478155,62973,853253,207

NOTE.—The quarterly estimates of State personal income were prepared by Robert L.Brown and Robert M. Lipovsky with the aid of Q. Francis Dallavalle and Thelma E.Harding, under the supervision of Kenneth P. Berkman.


By HOWARD L. FRIEDENBERG

Regional Differences in Personal Income Growth, 1929-77

_T ROM 1929 to 1977, the earliest andlatest years for which BEA's regionalincome estimates are available, growthin personal income was below thenational average in each northern-central region (New England, Mideast,Great Lakes, and Plains) and was abovethe national average in each southern-western region (Southeast, Southwest,Rocky Mountain, and Far West). Thisarticle discusses personal income growthrates for 1929-77 as a whole and for fivecomponent timespans: 1929-40, 1940-50, 1950-59, 1959-69, and 1969-77. Thechoice of the first three timespans isbased solely on data availability; annualregional income estimates are not avail-able for these timespans. It should alsobe noted that for the subsequent time-spans, no attempt was made to utilizetime series analysis that separates trendfrom cyclical changes. However, it isclear from an examination of thepatterns that characterize these time-spans that the patterns to a large extentreflect trend.

As is summarized in table 1 andshown in more detail in table 2, below-average income growth in the northern-central regions and above-averageincome growth in the southern-westernregions prevailed throughout 1929-77,and the article identifies the mainfactors responsible for this pattern.However, the disparity between therates of growth varied over time, andthe article identifies the factors thathelp explain the rates of growth in thetwo regional groupings in the com-ponent timespans.

Although this article focuses on re-gional differences in total personal in-come growth, it is also noteworthy thatregional differences in per capita per-sonal income narrowed from 1929 to1977. Per capita personal income de-

clined from 119 to 104 percent of thenational average in the northern-centralregions and increased from 70 to 96 per-cent of the national average in thesouthern-western regions. Relative tothe national average, each northern-central region except the Plains reg-istered a per capita income decline andeach southern-western region exceptthe Far West registered an increase(chart 10). The narrowing of regionaldifferences reflected the geographic dis-persion of industries, which in turn ledto more uniformity among regions inthe industrial distribution of income(table 3) and in the level of income per

worker. The narrowing also reflectedthe migration from the Southeast tothe northern-central regions of low-in-come, redundant farm workers (withtheir typically large families).

1929-77

Growth in personal income from 1929to 1977 was 26.6 percent below thenational average in the northern-centralregions (that is, the regions had a 26.6-percent growth disadvantage), and 71.6percent above the national average inthe southern-western regions (that is,the regions had a 71.6-percent growthadvantage). Each northern-central re-

• • ^ ^ ^ • • • • • • ^ ^ ^ ^ ^ ^ ^ • • • • • • • ^ • ^ • • • M H H H CHART 10

Per Capita Income as a Percent of the National Average BEA Regions, Selected YearsPercent

140

130

120

110

100

90

80

70

60

50

Mideast

Far West*

New England

Great Lakes ^ ' - " ^ ^

UNITED STATES

Rocky Mountain

Plains

Southwest

Southeast - — *

1 9 2 9 1 9 4 0

""Including Alaska and Hawaii.


1950 1959 1969 1977

27


28 SURVEY OF CUEEENT BUSINESS October 1978

gion had a growth disadvantage, andnearly every major income componentcontributed to each region's disadvant-age. Conversely, each southern-westernregion had a growth advantage, andnearly every major income componentcontributed to each region's advantage.

Throughout 1929-77, regional differ-ences in wage rates, taxes, and landcosts encouraged manufacturing expan-sion in southern-western locations anddiscouraged it in northern-central loca-tions. In addition, because agricultureaccounted for a relatively large share oftotal income in the southern-westernregions, the continuing mechanizationof agriculture released more low-paidworkers for manufacturing jobs in thesou them-western than in the northern-central regions. Moreover, becausesouthern-western manufacturing con-sisted mainly of nondurable goods, itwas less sensitive to cyclical downturnsthan northern-central manufacturing,which consisted mainly of durablegoods. Eeflecting the rapid growth ofmanufacturing and a net in migrationof population from the northern-centralregions, construction and service-typeindustries increased faster in thesouthern-western than in the northern-central regions.

1929-40

In the timespan that included theGreat Depression, personal income de-clined 9.0 percent in the Nation and12.8 percent in the northern-centralregions, but it increased 1.5 percent inthe southern-western regions. Eachnorthern-central region registered a de-cline. In the New England, Mideast,and Great Lakes regions, the declinespartly reflected declines in labor and

proprietors' income in construction andmanufacturing, as well as in propertyincome. The declines in constructionand manufacturing were from highlevels of demand in the twenties forresidential and nonresidential buildingsand durable goods. Property incomedeclined, as real estate and securitiesmarkets fell well below earlier boomlevels. Service-type industries also de-clined. In the Plains, the decline re-flected a decline in farming.

In the southern-western regions, theincrease in personal income reflected in-creases in the Southeast and Far Westthat more than offset declines in theSouthwest and Eocky Mountain re-gions. In the Southeast and Far West,the increases partly reflected large in-creases in manufacturing, as the FederalGovernment's dam construction pro-gram began to provide inexpensive hy-droelectric power. Private constructionin the Southeast and service-type in-dustries in the Far West also registeredlarge increases. In the Southwest andEocky Mountain regions, the declinesreflected declines in farming due to"Dust Bowl" conditions, especially inthe Southwest, and in mining, especiallyin the Eocky Mountain region.

1940-50

In 1940-50, a period of rapid incomegrowth nationally, the northern-centralregions had a 12.3-percent growth dis-advantage and the southern-western re-gions had a 28.5-percent growth advan-tage. In the northern-central regions,the growth disadvantage reflected dis-advantages in New England and theMideast that more than offset near-average growth in the Great Lakes re-

Table 1.—Percent Change and Growth Advantage or Disadvantage in Total PersonalIncome for BEA Regions, Selected Timespans

[Percent]

1929-77 . .1929-40 _1940-501950-591959-691969-77 _ _

UnitedStates

Percentchange

1656. 7-9 .0189.568.892.4

105.7

Northern-central regions

Percentchange

1216.0-12.8166.261.184.291.2

Growth advan-tage or disad-vantage (—)2

-26.6

-12.3-11.2- 8 .9

-13.7

Southern-western regions l

Percentchange

2842.21.5

243.582.7

105.1126.0

Growth advan-tage or disad-vantage (—) 2

71.6

28.520.213.719.2

1 Include Alaska and Hawaii in 1959-69 and 1969-77.2 [Regional percent change-r-national percent change]—100.

gion and a growth advantage in thePlains. In New England and the Mid-east, manufacturing grew less than thenational average. In contrast, in theGreat Lakes region, manufacturinggrowth was about average. Great Lakesmanufacturing benefited during WorldWar II from the conversion of the motorvehicles, machinery, and primary andfabricated metals industries to the pro-duction of military durable goods, andafter the war from strong catch-up de-mand for consumers' durables. In thePlains, the income growth advantage re-flected strength in farming.

Each southern-western region had agrowth advantage. The advantagepartly reflected strength in FederalGovernment payrolls; military installa-tions and related civilian services werebeing located in regions with mildclimates and relatively sparse popula-tion. The Southeast and Far Westbenefited also from strength in manu-facturing; growth in the demand formilitary durable goods stimulated theaircraft industry in the Far West,primary metals in the Southeast, andmachinery in both regions. The South-west and Rocky Mountain regionsbenefited from a recovery in farming,and the Southwest from strength inpetroleum and natural gas mining.

1950-59In 1950-59, a period of slow income

growth nationally, the northern-centralregions continued to have a iargegrowth disadvantage (11.2 percent), andthe southern-western regions continuedto have a large growth advantage (20.2percent). Each northern-central regionhad a growth disadvantage. In the NewEngland, Mideast, and Great Lakesregions, the disadvantage reflectedweakness in manufacturing, which wasmost pronounced in the recessions of1953-54 and 1957-58. In New England,the weakness was mainly in textiles; inthe Mideast, it was in textiles, apparel,and the metal products industries (thatis, machinery, transportation equip-ment, and fabricated metals); and in theGreat Lakes region, it was in the metalproducts industries. In the Plains, thedisadvantage reflected a decline—largerthan in any other region—in farming;strength in metal products manufac-turing, however, was a partial offset.


October 1978 SUKVEY OF CURRENT BUSINESS 29

Table 2.—Percent Change in Total Personal Income, Population, and Per Capita Personal Income for BEA Regions, Selected Timespans

Totalper-sonal

income

Labor and proprietors' income

Total

Nonfarm

Total

Private

Total Mining Con-struction

Manu-facturing

Service-type i

Government

Total Federal Stateand local

Farm

Prop-erty

income

Trans-fer pay-ments

Less:personalcontri-butionsfor social

in~ur-ance

Popu-lation

Percapitaper-sonal

income

1929-40

United States

Northern-central regions..New EnglandMideastGreat LakesPlains

Southern-western regionsSoutheastSouthwestRocky M ountainFar West

United States


Southern-western regionsSoutheastSouthwestRocky M ountainFar West ,.

United States

Northern-central regionsNew EnglandM ideastGreat LakesPlains

Southern-western region!SoutheastSouthwestRocky M ountainFar West

United States.

-9 .0

-12.8-10.6-13.1-12.4-15.1

1.52.8

-4 .5-2 .5

4.2

-4 .0

- 7 . 5-7 .2-5 .5- 7 . 3

-14.2

4.85.0

- 2 . 5-2 .210.9

- 1 . 1

-5 .7- 6 . 3-4 .9-5 .6- 8 . 7

12.215.53.91.0

14.9

-7 .7

-11.2-11.7-10.8-10.2-15.7

2.74.1

-5 .6- 8 . 4

7.9

-14.2

-27.5-55.2-30.4-20.4-24.2

- 1 . 05.6

-6 .4-22.2

17.6

-33.4

-44.1-39.0-44.3-47.9-36.2

3.728.4

-24.14.3

-4 .2

-3 .0

-5 .5-10.1-6 .4-2 .2-9 .2

8.712.34.0

-16.98.8

- 6 . 9

-10.0-8 .9-8 .0

-10.7-15.5

1.0- 1 . 3-5 .4- 4 . 8

8.5

70.8

59.559.964.354.056.2

95.6115.391.071.778.1

199.8

183.5183.3149.0265. 0193.2

226.4262.9216.8154.0194.2

22.8

19.118.628.211.212.0

31.732.929.325.432.8

-26.3

-27.5-32.1-22.4-26.3-29.6

-25.0-29.0-23.8-14.0-19.2

-33.4

-36.4-26.2-38.5-39.1-29.1

-23.1-17.1-21.9-23.0-28.7

108.2

98.1118.7112.888.166.7

133.886.7

105.4174.0212.2

371.9

348.7370.9299.0462.5310.8

435.8379.3339.6312.8604.0

8.4

5.63.97.46.11.8

12.811.58.9

11.121.7

1940-50

189.5

166.2136.0147.3186.7209.2

243.5237.4265.8221.3244.2

194.4

175.0149.7160.3189.2208.9

237.6224.3261.3218.5247.7

194.2

173.4149.4160.9190. 0198.8

245.0232.4277.6217.5250.7

200.9

182.1155.6167.5199.8215.8

249.4241.5283.9227.8246.7

169.9

139.5110.8112.5170.6197.7

192.0201. 5252.4123.976.8

354.2

317.1224.0282.9354.2465.0

423.5339.2554.2561.1450.8

231.6

215.5180.3203.4230.6274.3

297.4280.1358.6275.6307.1

172.5

151.3129.2140.0163.2181.4

220.8217.2248.8206.8214.1

154.4

115.0107.7117.9113.9114.1

224.7193.8249.5176.2271.9

172.8

118.2102.4141.397.194.2

250.5199.9291.6196.4343.4

137.7

112.6111.998.5

125.0130.9

193.6184.5199.0153.2210.3

196.1

199.3159.4135.5178.6245.7

193.0181.6187.4222.6216.1

123.1

98.857.969.6

148.4181.8

192.7191.9209.5208.6183.3

384.0

311.9299.6317.7295.0343.8

539.6702.6631.2323.0403.1

336.4

298.6267.7269.3329.3382.1

423.3458.8505.3443.3356.1

14.6

11.010.311.214.24.5

20.011.817.116.049.2

1950-59

68.8

61.164.661.164.649.8

82.776.677.570.595.7

68.4

60.364.461.863.345.7

83.176.377.568.498.0

76.3

66.666.863.668.970.8

94.989.491.587.1

105.0

72.0

62.962.759.865.865.9

90.984.885.681.4

103.0

22.4

-3 .391.7

-29.311.050.0

37.515.958.754.541.1

72.6

68.875.861.479.160.8

78.384.361.176.381.8

75.2

62.855.058.664.688.4

115.189.2

132.7115.6145.7

70.9

63.166.762.465.856.6

84.886.979.375.087.1

106.2

98.9100.893.8

102.4107.2

114.8112.1120.5114.5115.1

91.4

86.2113.580.975.9

105.7

95.997.9

107.096.886.5

121.6

108.990.8

106.6117.9108.3

142.0135.0141.6137.8150.4

-13.8

-26.3-19.9-14.2-20.9-33.6

-14.7-4 .9-5 .0

-13.115.8

78.4

67.155.565.568.579.2

100.398.5

102.196.1

102.1

76.4

82.378.072.0

101.578.0

68.363.259.270.280.2

175.0

163.9162.2150.4173.8187.1

194.4170.1211.8171.9220.1

16.6

13.812.013.317.77.7

20.412.621.221.037.6

1959-69

Northern-central regions.New EnglandMideastGreat LakesPlains

Southern-western regions-SoutheastSouthwestRocky Mountain ._ . .Far West 2

92.4

84.291.381.485.284.3

105.1112.199.285.8

103.3

90.3

82.586.279.584.384.2

102.5108.295.483.9

102.5

93.5

83.887.380.185.788.3

109.1116.2104.489.9

106.5

88.4

79.285.474.181.783.7

104.7113.0102.380.3

100.3

32.2

19.840.8

4.130.526.7

37.439.027.848.366.2

97.7

92.7103.977.0

108.089.3

104.6133.1115.961.878.3

81.9

70.667.060.276.892.3

109.5123.9128.088.489.8

93.3

85.1100.084.583.679.9

106.1108.2101. 383.7

109.8

122.5

117.2100.0119.4121.2115.1

128.2129.8112.8128.7133.9

84.4

71.947.276.674.072.8

94.498.483.7

113.192.2

157.6

149.3145.0157.1143.4144.7

169.0172.2152.1145.9176.9

23.2

41.512.124.939.951.4

9.79.9

-11.327.720.6

97.0

90.6111.987.090.984.7

107.3127.0108.190.790.7

149.3

132.4133.6137.7127.1127.9

174.6169.2176.5140.8186.3

229.4

212.1219.5202.6218.0222.0

256.1276.7244.3240.0243.0

13.6

10.212.410.211.16.6

18.114.017.717.026.0

1969-77

United States


Southern-western regionsSoutheastSouthwestRocky MountainFar West 2

105.7

91.287.684.094.3

107.8

126.0128.1141. 7142.6113.4

93.4

79.576.371.583.496.2

113.1113.6129.9134.1101.5

94.6

80.276.872.083.6

100.8

115.3116.4133.1144.4101.5

93.2

77.474.767.981.1

100.7

117.5118.0137.9152.4102.6

199.7

157.1156.9153.9172.6135.2

215.1213.9223.8251.4151.4

81.4

50.031.938.548.799.9

122.2106.5152.9193.2114.1

76.7

66.861.850.976.389.8

96.3102.3118.2139.976.0

103.2

88.390.581.290.0

106.3

123.8125.8136.0143.0113.3

101.6

96.689.993.3

101.7101.4

106.6110.1114.3119.197.0

71.1

70.148.474.067.376.2

71.8

Ikl87.662.6

121.6

109.6111.2104.9113.2113.8

136.9143.8154.3149.3121.6

53.7

52.520.6

6.177.849.6

54.944.940.0

-9 .5103.8

114.5

97.687.986.3

101.0132.6

139.6138.2160.7147.8128.6

214.0

201.9201.3200.3210.6186.7

229.3249.4228.7219.1206.4

132.5

116.6115.3104.7120.3145.2

154.1159.0171.9169.8138.5

7.5

2.44.3

.82.94.2

13.512.317.119.612.1

-16.0

-17.5-14.0-19.1-17.4-16.6

-9 .9-7 .9

-12.4-12.2-14.4

152.7

139.9114.2122.3150. 8195.6

185. 9202.1212.8176.8130.6

44.8

41.646.942.239.939.1

51.856.946.541.042.2

69.2

67.170.164.566.772.9

76.086.169.258.961.4

91.4

90.479.882.588.999.4

103.9103.1106.3102.9108.7

1. Sum of transportation, communication, and public utilities; wholesale and retail trade;finance, insurance, and real estate; and services.

2. Includes Alaska and Hawaii.


30 SUKVEY OF CURRENT BUSINESS October 1978

As in the forties, each southern-western region had a growth advantage.In the Southeast, Southwest, and FarWest, the advantage reflected strengthin government and manufacturing. Theformer was partly due to the growth inFederal expenditures for military in-

stallations during the "cold war." Inthe Southeast, strength in manufactur-ing was in textiles, apparel, and themetal products industries. In theSouthwest, it was in industries, such aspetrochemicals, for which the region'spetroleum and natural gas were im-

Table 3.—Percent Distribution of Total Personal Income for BEA Regions,Selected Years

United States

Northern-central regions.New EnglandMideastGreat LakesPlains

Southern-w e s t e r ngions

Southeast...Southwest..Rocky Mountain..Far West

United States_

Northern-central regions.New EnglandMideast __.Great LakesPlains

Southern-we sterngions

SoutheastSouthwestRocky MountainFar West

United States.

Northern-central regions.New EnglandMideastGreat Lakes__Plains

Southern-w e s t e r ngions .._

SoutheastSouthwestRocky Mountain..Far West2

United States.

Northern-central regionsNew EnglandMideast...Great Lakes..Plains

Southern-western re-gions

SoutheastSouthwestRocky MountainFar West 2

Totalpersonalincome

Labor and proprietors' income

Nonfarm

Private

MiningCon-

structionManu-

facturingService-type1

Government

FederalStateandlocal

Farm

Prop-erty

income

Transferpay-

ments

1929

100.0

100.0100.0100.0100.0100.0

100.0100.0100.0100.0100.0

1.9

1.3.2

1.71.01.2

3.53.36.37.11.2

4.3

4.64.84.74.73.5

3.63.04.22.84.1

19.6

22.227.020 826.411.3

12.714.87.79.5

13.5

36.8

36.233.136.935.339.0

38.336.438.338.640.8

1.5

1.31.31.6

.91.5

2.22.32.02.81.9

4.2

4.04.03.84.34.5

4.44.24.14.94.8

8.7

6.02.72.16.4

21.7

16.019.818.917.48.9

21.5

22.925.426.919.415.3

17.814.516.915.223.2

1950

100.0

100.0100.0100.0100.0100.0

100.0100.0100.0100.0100.0

1.6

1.0. 1

1.2.9

1.0

2.93.06.03.9

. 7

4.9

4.64.54.74.54.8

5.54.86.06.16.1

23.9

28.532.327.534.014.6

15.718.210.59.5

16.7

35.4

35.332.737.933.035.4

35.632.936.136.038.8

4.8

3.53.64.52.53.2

7.17.47.26.76.8

4.6

4.44.84.54.24.4

4.94.64.65.05.5

7.2

5.62.31.85.2

20.1

10.111.411.915.46.3

12.1

12.514.013.111.711.6

11.510.111.711.513.1

1969

100.0

100.0100.0100.0100.0100.0

100.0100.0100.0100.0100.0

. 8

. 4

. 1

. 3

.4

.7

1.41.33.42.8

.4

5.2

5.05.14.65.55.2

5.45.65.95.55.0

23.4

26.726.523.932.519.2

18.820.615.712.119.2

36.0

35.934.638.933.036.1

36.134.136.936.538.1

5.3

3.83.64.92.54.1

7.57.77.88.86.8

8.1

7.87.18.17.48.2

8.57.87.99.29.6

2.4

2.0.6. 7

1.97.3

2.93.22.85.42.2

13.1

13.414.713.812.313.9

12.712.113.913.612.5

1977

100.0

100.0100.0100.0100.0100.0

100.0100.0100.0100.0100.0

1.2

. 5

. 1

.4

.6

.8

2.01.84.64.1

. 5

4.6

3.93.63.44.25.1

5.35.06.16.75.0

20.1

23.322.919.629.517.5

16.318.314.212.015.8

35.6

35.435.238.332.235.8

35.833.836.036.538.0

4.4

3.42.94.72.13.4

5.75.95.66.85.2

8.7

8.58.09.18.18.4

9.08.48.39.5

10.0

1.8

1.6.4.4

1.75.3

2.02.01.62.02.1

13.7

13.814.714.012.815.6

13.412.715.013.913.4

1.7

1.71.7JL.61.72.2

1.81. 91.71.91.7

6.7

6.06.86.65.16.3

7.88.47.27.27.4

9.0

8.69.09.27.7-9.2

9.59.89.09.39.5

13.8

13.614.515.012.312.7

13.915.112.212.213.7

NOTE.—See footnotes in table 2. Rows do not sum to 100 percent because contributions to social insurance are included inl abor and proprietors' income (columns 2-8) but not in total personal income, and because forestry, fisheries, and other incomeand the residence adjustment are included in total personal income but are not shown separately.

portant raw materials, and in the FarWest, it was in aircraft and relatedmetal products industries, partly dueto the growth in Federal defense ex-penditures. In the Rocky Mountainregion, the growth advantage reflectedstrength in government and mining,which more than offset a decline infarming.

1959-69

In 1959-69, when income growthaccelerated nationally, the growth dis-advantage of the northern-centralregions declined to 8.9 percent and thegrowth advantage of the southern-western regions declined to 13.7 per-cent. As in the fifties, each northern-central region had a growth disad-vantage. In the New England, Mideast,and Great Lakes regions, the disad-vantage reflected continuing weaknessin manufacturing. In New England,the weakness in manufacturing wasnearly offset by strength in service-typeindustries, which was partly due tostrong growth in the demand for pro-fessional services, such as research anddevelopment, supplied by the region'shighly educated work force. In theMideast, the weakness in manufactur-ing was partly offset by near-averagegrowth in financial services and inState and local government. The formerreflected both expansion in employmentin head offices of corporations andrelated business and professional ac-tivities, as well as booming conditionsin the securities industry. In the Plains,the weakness in most income compon-ents was partly offset by strength infarming, which reversed its decline ofthe fifties, and in metal productsmanufacturing.

In the southern-western regions, theincome growth advantage reflected ad-vantages in the Southeast, Southwest,and Far West that more than offset agrowth disadvantage in the RockyMountain region. In the Southeast,Southwest, and Far West, the advan-tage reflected strength in service-typeindustries and manufacturing. In theSoutheast and Southwest, manufactur-ing strength was mainly in apparel andmetal products, and in the Southeast intextiles; in the Far West, manufacturingstrength was in machinery and primary



metals, and it would have been evengreater but for a slump in aircraft in thelate sixties. In the Rocky Mountainregion, the disadvantage reflected weak-ness in farm-related construction andservice-type industries that resultedfrom low levels of farm income duringmuch of the sixties.

1969-77

Rapid nominal income growth na-tionally due to high rates of inflation,and sharp cyclical fluctuations charac-terized the 1969-77 timespan. The in-come growth disparities increased: Thedisadvantage of the northern-centralregions increased to 13.7 percent, andthe advantage of the southern-westernregions increased to 19.2 percent. In thenorthern-central regions, the growthdisadvantage reflected disadvantages in

the New England, Mideast, and GreatLakes regions that more than offset agrowth advantage in the Plains. In theNew England, Mideast, and GreatLakes regions, the disadvantage partlyreflected weakness in service-type indus-tries and State and local government.The weakness in service-type industrieswas partly due to the dispersal ofcorporate head offices and of relatedbusiness and professional services to-ward growing southern-western mar-kets, and to slow growth in the con-struction and securities industries,which resulted in the slow growth offinancial services. The weakness inState and local government reflectedfiscal crises, which occurred during the1974-75 recession. New England andthe Mideast showed weakness also inmanufacturing. The Great Lakes re-

gion, in contrast, had near-averagegrowth in manufacturing. In the Plains,the advantage reflected strength infarm-related manufacturing and serv-ice-type industries that resulted fromhigh levels of farm income.

Each southern-western region had anincome growth advantage, which re-flected strength in construction andservice-type industries. The Southeastand Rocky Mountain regions showedstrength in coal mining also, due toincreases in production following theArab oil embargo of 1973-74. Theseregions, as well as the Southwest,showed strength in manufacturing,partly reflecting their relatively cheaperenergy. The Far West, in contrast, hadonly near-average growth in manufac-turing, due to the incomplete recoveryfrom the slump in the aircraft industryin the late sixties and early seventies.

State Personal Income, 1975-77Tables 4-63 present State personal income by type and by

industry for 1975-77. Summary tables 1 and 2 presenting Statepersonal income and per capita personal income, 1972-77, were inthe August 1978 issue of the SURVEY OF CURRENT BUSINESS.

State and regional estimates were prepared in the RegionalEconomic Measurement Division under the direction of Edwin J.Coleman. Staff members participating were Kathy A. Albetski,David A. Albright, Wallace K. Bailey, Linda C. Barnes, TimothyA. Bell, Brian A. Bergstralh, Kenneth P. Berkman, Mildred S.Burnett, Carl J. Carlson, Sharon C. Carnevale, Vivian G. Conklin,Q. F. Dallavalle, Carol E. Evans, Richard H. Grayson, LinneaHazen, Eunice P. James, Charles A. Jolley, Gary V. Kennedy,Katharine R. Levit, Robert J. McCahill, Alan J. Millican, KevinF. Neyland, Kevin O'Brien, Jeanne O'Neill, Michael G. Pilot,Toui Pomsouvan, Elizabeth H. Queen, John M. Reed, WilliamReid, David P. Roth, Victor Sahadachny, Stuart A. Schwartz,David C. Warlick, and James M. Zavrel.


32 SUEVEY OF CURRENT BUSINESS October 1978

Tables 4-15.—Personal Income

[Millions of

Line Item

Table 4.—United States Table 5.—New England Table 6.—Connecticut Table 7.—Maine Table 8.—Massachusetts

1975 1976 1977 1975 1976 1977 1975 1976 1977 1975 1976 1977 1975 1976 1977

910

1112131415161718

19202122 i23242 5 i26 |272829

30

3132333435363738

3940414243

Income by place of work

Total labor and proprietors' income l

By type

Wage and salary disbursements..Other labor incomeProprietors' income 2

FarmN onfarm 2

FarmNonfarm..

By Industry 3

PrivateAgricultural services, forestry, fish

eries, and other.*Agricultural servicesForestry, fisheries, and other *_

MiningCoal miningOil and gas extractionMetal miningNonmetallic minerals, except fuels..

Construction

ManufacturingNondurable goods

Food and kindred productsTextile mill productsApparel and other textile products.Paper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsTobacco manufacturesRubber and miscellaneous plastics

products.Leather and leather products

Durable goodsLumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipment.Transportation equipment except

motor vehicles.Motor vehicles and equipmentOrdnance 5

Stone, clay, and glass products. _.Instruments and related products.Miscellaneous manufacturing in-

dustries.

Transportation and public utilities...Railroad transportationTrucking and warehousingWater transportationOther transportationCommunicationElectric, gas, and sanitary services-.

Wholesale tradeRetail trade

Finance, insurance, and real estate. _.BankingOther finance, insurance, and real

estate.Services

Hotels and other lodging placesPersonal servicesPrivate householdsBusiness and repair services.Amusement and recreation includ-

ing motion pictures.Professional, social, and related

services.Government and government enterprises.

Federal, civilianFederal, military -State and local

Derivation of personal income byplace of residence

Total labor and proprietors' income byplace of work.

Less: Personal contributions for socialinsurance by place of work.

Net labor and proprietors' income byplace of work.

Plus: Residence adjustmentNet labor and proprietors' income by

place of residence.Plus: Dividends, interest, and rent7

Plus: Transfer payments

Personal income by place of residence

950,902

799,87765,09485,93122,42263,509

922,2C6

749,1283,410

2,842568

13,4554,4575,7811,5251,692

55,298

239,72988,52019,9937,4368,8308,88513,18716,2593,892937

7,202

1,899

151,2096,7403,90319,34719,75730,07622,34314,819

14, 777

1,049,209

883,92876,97788,30418,13470,170

25,0451,024,164

838,0723,909

3,152757

15,6894,4437,8701,6271,749

61,029

271, 55099,99122,0828,67110,20910,34414,43418,2014,4371,0328,388

2,193

171,5598,2914,49121,80922,23132,81725,08415,796

19,126

8,1707,2474,030

70,1918,54316,1532,85411,37319,32111,94763,85697,684

49,65514,08235,573

155,8505,3997,5955,72829, 2416,087

101,800

173,07841,78017,906113,392

950,902

50,193

900,709

6 -269900,440

169,840178,166

1,248,446

9,1908,1634,561

78,4799,55718,1803,11612,67021,68913,26769,673107,290

57,28915,43841,851

173,1646,1208,2146,40633,1876,918

112,319

186,09245,07918,352122,661

1,049,209

55,139

994,070

e -326993,744

186,728193,915

1,374,387

1,163,252

973,94590,38398,92419,39479,530

26,7301,136,522

937, Of 24,2c 3

3,457776

18,0704,9469,5161,7331,87569,525

305,272110,08823.8599,31510,78711,53615,86420,3084,9531,09610,137

2,233

195,1849,5455,01924,71724.86037,10928,47717,385

23,393

10,2919,4574,931

87,51010,33720,6483,46114,19024,23014,64476,487117,927

64,73816,90447,834

193,2906,6118,9077,047

37,7597,710

125,256

199,47048,18019,035

132,255

1,163,252

60,607

1,102,645

6 -3801,102,265

207,301208,824

1,518,390

53,310

45,9113,8483,551

1733,378

31752,992

44,624219

1497051

()46

2,775

16,1095,195

665573455829

478

692

421

10,914253190628

1,6652,2462,0921,741

114

58, 494

50,0194,4744,001

2893,713

44658,048

49,158249

1569351

()45

2,851

17,9885,854

73466452196797964150

501

12,134302204709

1,8592,4222,3411,910

138

64,419

54,7835,2194,417

1854,231

36564,C53

54,515

1639982)

()51

3,139

20,1236,354

773708546

1,0811,070

69757

354993

3,20919772054

4331,166

6393,1895,599

3,277887

2,390

10,196248409294

1,611252

7,381

8,3681,679

5716,119

53,310

2,820

50,489

1,02451,513

10,56611,415

73,493

3861,127

736

3,51522678662

4821,265

6943,4576,015

3,682961

2,722

11,350289438329

1,824279

8,191

8,8901,803

5746,512

58,494

3,061

55,433

1,08156,514

11,62312,028

80,164

514

13,769335217758

2,0142,9012,6542,141

181

4311,327

809

3,91124488069

5611,403

7533,8076,543

4,1131,0383,074

12,537309474362

2,047302

9,043

9,5381,932

5957,011

64,419

3,333

61,085

1,15862,243

12,92212,767

87,932

15,155

13,0101,1391,006

28978

7515,080

13,09049

47218

1(D)16778

5,4611,17714310085108245250(D)(D)203

12

4,2842056315815835498

1,223

26

104262130

78549170(D)(D)272185877

1,437

1,086217868

2,599371119843162

1,860

1,989319143

1,528

15,155

816

14,338

76515,103

3,3752,602

21,079

16,360

13,9911,3111,058

271,031

7916,281

14,23251

49217

2(D)15744

5,9791,2971651149313426926923

(D)211

(D)

4,6822360356911871562

1,316

28

110301146

85960185(D)(D)297195965

1,541

1,219238981

2,8574111710949376

2,021

2,049310146

1,594

16,360

873

15,487

80416,291

3,6212,774

22,687

18,171

15,4351,5281,208

331,175

9218,079

15,86854

52245

7(E>)18852

6,6111,4161731189614929629822

(D)242

(D)

5,1952564364986

1,036634

1,438

27

124334162

97465213

(D)(D)334213

1,0781,678

1,370258

1,111

3,2074512812059784

2,233

2,211353159

1,699

18,171

960

17,211

85018,061

4,0272,967

25,055

3,672

3,04125637556319

853,587

2,84134

12223

(D)21

251

94861087

(I>)(D)239(D)122

(*)33

122

3381187440294756

11

1548

24341607167643203426

15151100

5832928295911

427

746214106426

3,672

203

3,470

-303,439

659944

5,042

4,244

3,457306481135346

1664,078

3,28443

12313

(D)

21

335

1,110721(E>)(D)2627933143

(*)39

153

3891399547345658

11

1759

273466810188646224464

17456118

6583430336612

483

79324098455

4,244

229

4,015

-313,984

7441,023

5,750

4,550

3,72735546875394

1114,439

3,59845

12323

(D)

11

313

1,247806

(E>)2932136163

(*)40

164

44115511650446571

9

1859

29749749209649246511

19761136

7403633367514

546

841248100494

4,550

239

4,311

-254,286

8251,109

6,221

26,027

22,6751,8581,494

241,470

6525,961

21,816103

653813

()

()13

1,282

7,1612,536

338261296354477293

(D

()307

191

4,6254485

185644

1,0481,166

64

150613229

1,70779

361(D

()642313

1,6722,775

1,628492

1,136

5,473108200114936125

4,146845188

3,112

26,027

1,299

24,727

-13224,595

4,8935,845

35,333

28,390

24,5302,1351,725

351,690

8128,309

23,856118

(13

1,252

7,9282,830

366299340407519296

(D

()362

217

5,0995486

202706

1,1461,265

444

83

166685261

1,85989

394(()

687342

1,7802,965

1,808523

1,285

6,131125217128

1,049134

4,478

4,453924190

3,339

28,390

1,403

-13326,853

5,4566,105

38,414

31,156

26,7392,4871,930

91,921

6131,095

26,321125

715416

(14

1,356

3,026379316355447563317

()400

217

5,8846090

237772

1,3551,435

509

125

182833284

2,07596

441(()

768372

1,9443,209

1,995559

1,436

6,691132233141

1,126146

4,913

4,774990193

3,590

31,156

1,523

29,633

-14729,487

6,0596,419

41,964

Per capita income (dollars) _ _.Total population (thousands) _

5,861213,020

6,403214,656

7,019216,320

6,03012,187

6,56812,205

7,18312,242

6,7993,100

7,3133,102

8,0613,108

4,7661,058

5,3671,071

5,7341,085

6,0775,814

6,6335,791

7,2585,782

* Less than $500,000.D Not shown to avoid disclosure of confidential information; data are included in totals.1. Consists of wage and salary disbursements, other labor income, and proprietors' income.

2. Includes the capital consumption adjustment for nonfarm proprietors.3. Estimates based on 1972 Standard Industrial Classification.4. Includes wages and salaries of U.S. residents working for international organizations.



by Major Sources, 1975-77dollars]

Table 9.—NewHampshire

1975

2,980

2,535214231

14217

202,959

2,4589

816

(*)(•)

(*)

5185

903364

1977

91

C)64

73

53939143159

145156

6

C)255212

1747

44

7338

152369

14240

102

5183025196324

355

5029765

340

2,980

183

2,797

3323,129

632637

4,398

5,417812

1976

3,416

2,88326526717

250

243,392

2,85011

926

(*)(*)(*)

6215

1,080432

238953111

83

90

64847163677

172184

7

C)296514

1927

49

8142

170411

17345

128

5923728217726

401

54210766

369

3,416

207

3,208

3413,550

708683

4,940

5,974827

1977

3,884

3,262319303

14289

223,862

3,27411

926

(*)(•)(*)

6271

1,254491

259761111

113

91

76351174080

242197

8

C)347816

2138

55

9145

198461

20150

151

6593931249028

448

58711666

406

3,884

234

3,650

3654,015

793739

5,547

6,536849

Table 10.—Rhode Island

1975

3,760

3,244265251

2249

3,753

3,06716

1062

(*)2

178

1,176390

108

266039

(*)C)

73

19

78649

8898

1149333

13

3148

255

1899

535

186539

208402

19961

138

6958

33179721

519

68714657

484

3,760

236

3,524

1223,646

674996

5,316

5,709931

1976

4,165

3,608321235

3232

84,157

3,42118

1082

(*)2

189

1,375441

12230316743

(*)81

(D)

9335

1110510912311661

16

3457

298

20811555

197245

233427

22370

153

747113319

11022

551

73615961

515

4,165

258

3,907

1354,042

7271,020

5,789

6,187936

1977

4,559

3,920373266

3263

94,550

3,76519

1192

(D)

2211

1,521470

13032347246

(*)87

(D)

1,0505

1110511613714088

19

3961

328

21512596

226947

251458

25277

175

836123521

12622

620

78516263

560

4,559

279

4,280

1534,432

8111,088

6,332

6,775935

Table 11.—Vermont

1975 1

1,716

1,40711619349

144

651,651

1,3527

7(*)

9

(*)(*)

9101

45911724

824356

%

3

341281948

7513227

(*)

29146

111123118

382177

191

712645

32735121724

7

231

2995813

228

1,716

83

1,633

- 3 31,600

333391

2,324

4,924472

1976

1,920

1,55013523671

164

891,831

1,5158

7C)

9

P)(*)9

116516132265

1029388

(*)

14

3

38434235

1076

15825

(*)

31158

1231235

19

422485

207

852956

366411319288

257

3166313

240

1,920

92

1,829

- 3 41,794

367423

2,584

5,414477

1977

2,099

1,70015824251

190

712,028

1,6888

8

9

| : |10

135

581145286

1033418

16

3

43638246

1186

18427

1

33189

1361339

110462691

226

983266

403451520328

283

3406315

262

2,099

100

2,000

- 3 81,962

408445

2,814

5,823483

Table 12.—Mideast

1975

208,049

180,40914,02213,617

76612,851

1,277206,771

167,718588

458130

1,20781612563

2029,982

52,49721,5953,6581,2403,1801,7853,9925,013

93695

1,229

471

30,901436559

3,6775,7895,3761,730

(D)

2,0122,9081,256

16,1421,4703,2211,0312,9934,7992,629

14,11219,642

13,8214,2199,602

39,727976

1,5601,2957,9481,390

26,559

39,05311,2631,670

26,120

208,049

11,012

197,036

-2,968194,069

37,68640,533

272,288

6,38042,681

1976

223,180

193,32616,00413,851

84313,008

1,402221,778

180,687624

471153

1,22478718166

1899,963

57,01523,5913,9441,3033,5182,0144,2765,4771,017

1,424

(D)

33,423

5856,1124,0176,0925,7741,770

(D)

2,1893,1351,388

17,7991,6783,4921,0923,2715,3852,880

15,10320,887

15,2734,549

10,724

42,8001,0481,6291,4488,6431,508

28,524

41,09112,1801,715

27,196

223,180

11,731

211,450

-3,214208,236

40,46644,305

293,007

6,87842,602

1977

242,131

208,53318,37515,224

63114,593

1,226240,906

197,251667

501166

1,33184921866

19710,907

62,48525,6154,1871,3593,6462,2544,6366,1191,145

1,633

(D)

36,869

6366,7154,2966,7126,2472,025

(D)

2,3893,4631,483

19,6071,8153,8811,1863,5975,9533,175

16,24022,213

16,6874,864

11,822

47,1141,0871,7351,5939,7411,620

31,337

43,65413,0811,724

28,849

242,131

12,613

229,518

-3,476226,043

44,62047,670

318,332

7,49942,449"

Table 13.—Delaware

1975

3,023

2,58622021879

139

902,933

2,4729

8(*)

5(*)

4C)

197

1,134881

73

1322

662

43

6

253

2

252583

(D)

820

1

166

8163741

124302

131(D)(D)

404(D)(D)

286316

(D)

4618063

318

3,023

157

2,867

-1102,757

591445

3,793

6,547579

1976

3,282

2,80426321575

140

863,196

2,7089

916

C)5

(*)(*)

206

1,24993581

361624

686

6

314

2623114

(D)

9251

19233478

184245

128325

142(D)(D)

45010

(D)317315

(D)

4888365

340

3,282

169

3,113

-1202,993

666477

4,135

7,107582

1977

3,522

3,010304208

49159

613,461

2,9489

8(*)

7

(*)216

1,3751,021

81

124826

763

(•)

4

354

2923144

(P)10321

20736499

194649

148334

154(D)(D)

49810

(D)358216

(D)

5138964

360

3,522

181

3,341

-1283,212

742523

4,477

7,697582

Table 14.—District ofColumbia

1975

8,644

8,076407161

161

(*)8,644

4,11259

2572

C)

(*)

297

263233

19

5198

6

(*)(*)

C)30

33558

(D)

311

518

112625576

215422

385(D)(D)

1,951(D)

D7827426

(D)

4,5313,559

241731

8,644

490

8,154

-4,9843,170

8561,140

5,167

7,262712

1976

9,591

8,941474177

177

(*)9,591

4,48465

2633

2

1278

277247

19

5213

6

(*)

30

23736

(D)

321

57147151

13928880

226448

421(D)(D)

2,19479

(D)87

29727

(D)

5,1074,052

254802

9,591

537

9,055

-5,5793,475

9871,223

5,685

8,120700

1977

10,443

9,712534197

197

(*)10,443

4,97672

2703

2

1251

281250

19

16

2137

C)31

63564

(D)

321

63251141

15532586

239471

454(D)(D)

2,57388

(D)95

34427

(D)

5,4674,408

248811

10,443

574

9,869

-6,0743,795

1,1151,300

6,210

8,999690

Table 15.—Maryland

1975

18,376

15,9531,1021,320

1441,176

20018,176

13,09458

535

26121

131,243

3,0841,167

32914

120114245201

17(*)

115

12

1,9173732

560162200360182

190

1342931

1,1221382899283

313206

1,0122,215

898195703

3,43762

158121

77696

2,224

5,0822,204

4712,407

18,376

1,031

17,345

3,07220,417

2,7843,190

26,391

6,4034,122

1976

20,083

17,3331,2981,452

1551,297

22419,859

14,41662

566

23121

101,343

3,3961,281

353

13413227021618

(*)127

(D)

2,1154537

618175211405184

226

1463335

1,2581553309697

355226

1,1302,409

1,024210814

3,77266

171135858104

2,438

5,4432,319

4652,659

20,083

1,117

18,966

3,46022,426

2,9433,486

28,855

6,9954,125

1977

21,775

18,7361,4911,548

771,471

14521,629

15,85564

567

24141

C)9

1,482

3,7471,413

386

144142310242

17(*)144

(D)

2,3355241

666196231459188

274

1513738

1,424168369100111418258

1,2412,567

1,151233918

4,15668

182149971113

2,673

5,7742,409

4732,892

21,775

1,203

20,571

3,77824,349

3,2243,765

31,337

7,5724,139

Line

1

23456

8

910

1112131415161718

1920212223242526272829

30

3132333435363738

3940414243

444546474849505152

535455

565758596061

62

63646566

67

68

69

7071

7273

74

7576

5. Under the 1972 SIC Code, ordnance was reclassified to four 2-digit industries: fabricatedmetal products, electric and electronic equipment, transportation equipment, and instru-ments and related products.

6. Adjustment for border workers: income of U.S. residents working across U.S. bordersless income of foreign residents working in the U.S.

7. Includes the capital consumption adjustment for rental income of persons.



Tables 16—27.—Personal Income[Millions

Line

1

23456

78

910

1112131415161718

1920212223242526272829

30

3132333435363738

3940414243

444546474849505152

535455

565758596061

62

63646566

67

68

69

70

71

727374

7576

Item


Total labor and proprietors' income i 2___

By type

Wage and salary disbursements .Other labor incomeProprietors'income 2_ . . . .

FarmNonfarm 2

By industry 3

FarmNonfarm . .. .. .

PrivateAgricultural services, forestry, fisheries, and

Agricultural servicesForestry, fisheries, and other 4 .

MiningCoal mining . . . .Oil and gas extraction. . . . .Metal mining .Nonmetallic minerals, except fuels. _

ConstructionManufacturingNondurable goods _ _

Food and kindred products. . __ . . .Textile mill productsApparel and other textile productsPaper and allied products _ _Printing and publishingChemicals and allied productsPetroleum and coal productsTobacco manufacturesRubber and miscellaneous plastics

Leather and leather products .

Durable goodsLumber and wood products.Furniture and fixturesPrimary metal industriesFabricated metal products _ _ __ ._ __Machinery, except electricalElectric and electronic equipment „Transportation equipment except mo-

Motor vehicles and equipmentOrdnance *>Stone, clay, and glass products _. .Instruments and related productsMiscellaneous manufacturing industries.

Transportation and public utilitiesRailroad transportation.-. _Trucking and warehousingWater transportationOther transportationCommunicationElectric, gas, and sanitary services

Wholesale trade _ __ _. _ .Retail trade

Finance, insurance, and real estateBanking.Other finance, insurance, and real estate..

ServicesHotels and other lodging places._Personal services .Private householdsBusiness and repair services.. _Amusement and recreation including

Professional, social, and related services...

Government and government enterprisesFederal, civilian..Federal, military.State and local

Derivation of personal income by place of residence

Total labor and proprietors' income by place of

Less: Personal contributions for social insuranceby place of work.

Net labor and proprietors' income by place of

Plus: Residence adjustment

Net labor and proprietors' income by place of

Plus: Dividends, interest, and rent7.Plus: Transfer payments

Personal income by place of residence _

Per capita income (dollars)Total population (thousands) _

Table 16.—New Jersey

1975

34,342

29,4562,4712,415

422 373

10334,239

28,840103

958

46116

391,727

10,4535,238

748288461469568

2,019243

4369

70

5,215

93

8751,0581,267

99

217

482426225

2,781138885226395714423

2,4703,596

1,660415

1,245

6 003120283168

1,484164

3,784

5,3991 096

3053,999

34,342

1,889

32,452

4,266

36,719

6,5906,515

49,824

6,7947,333

1976

37,117

31,9392,8332,345

502 294

11737,000

31,108111

991246

3

351,684

11,3445,752

812295513503613

2,234267

433

(D)

5,593

94

9561,1091,327

99

275

517474258

3,108142955244421887459

2,7253,816

1,860436

1,424

6 414126281188

1,627176

4,016

5,8931,229

3224,342

37,117

2,021

35,096

4,482

39,578

7,0247,070

53,673

7,3147,339

1977

40,666

34,7513,2982,616

352 581

10940,557

34,245120

1081248

3

371,844

12,3936,255

814295533556688

2,499296

490

(D)

6,138

103

9991 2011,469

106

364

559539289

3,489154

1,044261449

1,070511

3,0164,124

2,063466

1,597

7 148132302207

1,835184

4,487

6,3121 309

3114,691

40,666

2,193

38,473

4 806

43,279

7,7337 577

58,589

7,9947,329

Table 17.—New York

1975

90,679

79,3925,8145,473

2175 256

41090,269

74,165241

18358

1753

673670

3,489

19,8578,4081,329

5011,690

6402,1511,227

28648

297

240

11,449147244996

1,0362,4712,020

747

574

5621,979

673

7,646441963557

2,0362,6021,0487,1567,888

8,2962,7195,577

19 416478641639

4,004849

12,806

16,1042,463

37413,268

90,679

4,653

86,026

-4,780

81,246

18,36018,239

117,845

6,51918,076

1976

95,525

83,5266,5875,412

2515 161

43895,087

78,874251

18467

1802

733670

3,254

21,5939,1381,403

5181,852

7382,2911,353

31851

351

264

12,455158252

1,1121,1232,6452,177

772

754

6032,120

740

8,290506

1,004583

2,2242,8171,1567,5238,276

9,0512,9376,114

20 555488664715

4,300924

13,365

16,2132,500

39013,323

95,525

4,880

90,645

-5,016

85,629

19,67819,791

125,097

6,92918,053

1977

102,781

89,4027,5015,878

1305 748

351102,430

85,205268

19574

863974

3,515

23,6149,8531,527

5451,930

8112,4571,482

36957

401

275

13,760173266

1,2111,2522,9542,379

827

947

6652,305

780

8,988547

1,116630

2,4453,0071,2437,9918,649

9,7793,1296,650

22,202508700786

4,816997

14,395

17,2262,767

41014,049

102,781

5,211

97,570

-5,379

92,192

21,67521,223

135,089

7,53717,924

Table 18.—Pennsyl-

1975

52,985

44,9484,0074,030

2843 746

47552,510

45,035118

1162

952800522178

3,028

17,7065,6681,160

43087854380789736343

404

143

12,037194187

3,6741,5752,0311,716

690

370

823453324

3,909681

1,029146336880837

3,1345,219

2,452745

1,707

8,517241417261

1,347240

6,012

7,4751,862

2175,396

52,985

2,792

50,193

-432

49,760

8,50311,00469,268

5,84111,860

1976

57,583

48,7834,5494,250

3123,939

53857,045

49,098125

1223

965771972374

3,198

19,1556,2391,278

46698261986598138138

464

164

12,917237199

3,9291,7352,0981,851

706

416

911481352

4,379795

1,142158373997915

3,3715,615

2,775806

1,970

9,514279449292

1,488262

6,744

7,9461,997

2205,730

57,583

3,008

54,575

-440

54,135

9,16812,25975,562

6,40211,802

1977

62,944

52,9215,2464,777

3394,438

55962,385

54,022135

1323

1,0508341182177

3,599

21,0756,8231,360

4991,027

691942

1,12642737

550

166

14,252268224

4,3601,8162,2971,921

897

548

1,001547373

4,867860

1,288185418

1,0881,0283,6066,068

3,086865

2,221

10,537280486321

1,692283

7,475

8,3632,098

2186,046

62,944

3,250

59,694

-479

59,215

10,13213,28482,630

7,01111,785

Table 19.—Great Lakes

1975

192,789

161,74414,86416,1825,082

11,100

5,859186,930

160,108396

3889

1,409

248

3269,905

68,09517,6154,533

194717

2,0813,2183,296

69611

2,590

281

50,480749938

7,8027,177

11,4225,8231,772

10,811

2,0641,092

832

12,8631,9843,719

1601,3163,2132,470

12,50918,910

8,6662,3276,339

27,355681

1,486722

4,684880

18,903

26,8234,6581,068

21,097

192,789

9,820

182,969

558

183,528

31,73832,333

247,599

6,04740,946

1976

214,383

180,42017,89316,0703,796

12,274

4,673209,710

180,931447

43413

1,638

409

33710,976

78,75019,8635,006

218871

2,4423,4903,706

80411

3,000

314

58,887905

1,0779,1068,354

12,4306,6061,959

13,912

2,3591,249

932

14,4462,2484,265

1811,4713,5452,736

13,50920,720

9,9942,5557,440

30,451760

1,602807

5,341974

20,966

28,'7794,9621,109

22,709

214,383

10,787

203,596

639

204,235

34,74434,702

273,681

6,68840,918

1977

237,157

197,90121,03618,2204,349

13,871

5,242231,915

201,053499

48613

1,795

483

34312,626

88,94421,7895,322

244961

2,6743,7264,051

86710

3,627

307

67,1561,0041,172

10,3679,557

13,8717,5022,173

16,576

2,5571,386

992

15,7722,4324,807

2141,6023,8112,907

14,50822,493

10,9462,7298,217

33,469804

1,715888

5,8891,056

23,117

30,8625,2971,148

24,417

237,157

11,794

225,362

730

226,093

38,47937,073

301,646

7,34741,057

Table 20.—Illinois

1975

58,565

49,0514,0225,4932,1763,317

2,36656,199

47,981112

1093

49429290

(*)112

3,155

17,1535,6601,652(D)

210488

1,386956340

513

74

11,493121259

1,5611,8703,5351,972

419

356

492541367

4,501804

1,14444

7571,048

7054,5535,576

3,374870

2,504

9,064246423205

1,811280

6,099

8,2171,511

4336,273

58,565

2,969

55,597

247

55,843

10,4499,126

75,418

6,73511,198

1976

63,517

53,6424,8265,0491,2703,779

1,51162,006

53,352126

1224

611343147

(*)121

3,504

18,9976,3261,821(D)

231561

1,4981,095

413

585

80

12,671145295

1,7572,1223,7292,170

421

443

563610415

4,989862

1,31049

8391,149

7814,9996,162

3,836958

2,878

10,127262464229

2,068326

6,778

8,6541,516

4786,660

63,517

3,234

60,283

288

60,571

11,36310,13982,073

7,33211,193

1977

66,892

55,9045,4465,5411,3164,226

1,59365,299

55,991142

1384

663382166

(*)115

3,718

20,0946,6031,885

231569

1,5591,157

421

662

76

13,490164303

1,9072,2903,9362,331

423

518

557639423

5,199932

1,38164

8831,168

7725,1246,435

3,976991

2,985

10,640268480252

2,174344

7,122

9,3081,684

5087,116

66,892

3,372

63,520

410

63,930

12,52610,89087,346

7,76811,245

See footnotes on page 32.


October 1978 SURVEY OF CURRENT BUSINESS 35by Major Sources, 1975-77

of dollars]

Table 21.—Indiana

1975

23,434

19,1251,8422,467990

1,477

1,12622,309

19,42741

411

14084

(D)(*)(p)1,265

9,1171,948466(p)8116932246398

(D)325

16

7,169180187

1,736737977

1,380491

996

28694104

1,530271482991354323

1,3182,291

962268693

2,763

791869740268

1,931

2,881

580120

2,182

23,434

1,168

22,266

98

22,365

3,8363,60029,801

5,6095,313

1976

26,381

21,6402,2202,521904

1,617

1,06025,321

22,17147

461

179100(D)(*)(P)1,415

10,6482,174513

(D)9520135849697

(D)387

18

8,474223218

2,039840

1,0851,660582

1,269

332111115

1,73831156010103395359

1,4432,519

1,115295820

3,0689119810844678

2,146

3,150

620114

2,416

26,381

1,307

25,074

94

25,168

4,2873,79933,254

6,2595,313

1977

29,417

24,2712,6342,512675

1,837

83228,585

25,15750

491

204119

\ )(*)

1,700

12,1732,433556(D)100222390548109

(p)480

19

9,739260237

2,345973

1,2791,818692

1,511

370135119

1,94133663313116443401

1,5912,799

1,250323927

3,44710221511952286

2,404

3,428673117

2,638

29,417

1,461

27,956

65

28,021

4,7794,09036,890

6,9215,330

Table 22.—Michigan

1975

42,297

35,8013,8602,636457

2,179

58341,714

35,26486

843

240151

(D)(D)1,879

16,6622,813684

(D)23132040476155

(p)288

33

13,849133233

1,4661,7272,192519168

6,885

29912799

2,33724863222172684579

2,4244,130

1,568474

1,094

5,938119321153975191

4,178

6,450795198

5,457

42,297

2,121

40,176

252

40,429

6,3307,82254,581

5,9919,111

1976

48,569

41,0544,8222,693339

2,353

47648,093

41,19297

934

261(*)75

(P)(P)2,081

20,6833,2727564732538143586059

(*)371

39

17,412155273

1,8352,1412,454593204

9,158

343142112

2,64929973924193749645

2,4984,495

1,815519

1,297

6,613145346171

1,147209

4,595

6,901875207

5,820

48,569

2,370

46,199

294

46,493

7,0388,11861,649

6,7659,113

1977

55,629

46,6195,8653,145472

2,673

59055,039

47,563105

1014

272(*)89

(D)(D)2,554

24,3923,7118265939442347894266

(*)482

41

20,681174300

2,1512,5552,927717239

10,928

399164127

2,96132487126226822692

2,7604,951

2,057570

1,488

7,510166376189

1,340232

5,207

7,476906205

6,366

55,629

2,681

52,949

322

53,270

7,7918,49269,554

7,6199,129

Table 23.-Ohio

1975

48,841

41,5903,7163,535734

2,801

90947,932

41,511101

1001

492312941175

2,569

18,2964,947926651464967839761963

1,305

52

13,349132174

2,6552,1433,0661,378597

1,938

877225164

3,320502

1,08273201839623

3,0324,905

1,915499

1,416

6,881160399200

1,127258

4,737

6,4201,424266

4,730

48,841

2,510

46,331

-340

45,991

7,6308,40662,026

5,77810,735

1976

54,256

46,1604,3583,738662

3,075

86553,391

46,425112

1102

5483081531176

2,782

20,7535,5531,025

71163584844

1,1012273

1,476

58

15,200157191

3,0702,4673,3541,544643

2,339

993263180

3,755597

1,23183227932685

3,2845,349

2,233545

1,688

7,609177425224

1,255270

5,259

6,9661,553255

5,159

54,256

2,722

51,533

-371

51,162

8,2708,98868,420

6,40010,690

1977

60,432

51,1605,1464,126631

3,495

81659,616

52,243124

1222

6143321861285

3,154

23,6976,2261,111

73173646914

1,2252633

1,762

56

17,470179215

3,4812,8403,6761,868708

2,906

1,092305198

4,191645

1,43289255

1,030739

3,6295,859

2,535591

1,945

8,441173453246

1,373282

5,913

7,3731,605261

5,507

60,432

3,000

57,432

-424

57,007

9,1699,63375,809

7,08410,701

Table 24.—Wisconsin

1975

19,652

16,1771,4242,051725

1,326

87518,778

15,92455

54141

(D)

(P)634

1,037

6,8672,24780550496083221407

(*)159

106

4,62118284383701

1,65057497

637

10910597

1,1751603801295288240

1,1832,009

847216631

2,710761576637083

1,958

2,85434851

2,454

19,652

1,052

18,600

301

18,900

3,4923,37925,772

5,6164,589

1976

21,661

17,9231,6672,071621

1,450

76120,899

17,79265

63241

(P)632

1,195

7,6682,53989156587163551558

(*)181

119

5,130225100404784

1,808640109

702

128122108

1,31518042714110317265

1,2852,194

995238757

3,034861707442592

2,188

3,10839855

2,655

21,661

1,154

20,506

334

20,841

3,7863,65828,285

6,1364,610

1977

24,787

19,9461,9462,8951,2551,640

1,41123,376

20,10078

76241

()632

1,500

8,5892,81594566638143851797

(*)240

115

5,774226117483899

2,053768110

713

137142125

1,48019548922122349304

1,4042,448

1,128255873

3,4319519181480112

2,471

3,27642957

2,790

24,887

1,281

23,506

358

23,864

4,2143,96932,047

6,8904,651

Table 25.-Plains

1975

72,854

56,5704,62111,6636,0205,644

6,79866,056

54,264219

2154

70763176308160

4,384

15,8106,3682,626

56333747

1,109748127(*)435

189

9,441310181493

1,3242,7421,2741,152

801

509409246

5,9321,1921,558

80827

1,305970

5,7057,640

3,568990

2,579

10,300324613333

1,673311

7,046

11,7932,5481,0358,210

72,854

3,937

68,917

-638

68,279

14,74512,42895,452

5,71916,691

1976

78,028

62,9515,4969,5813,2516,329

4,14373,884

61,162241

2375

86047309345159

5,093

17,8687,1552,896

58381859

1,236850159(*)500

217

10,712383

5401,4403,0301,4401,278

1,045

582(D)280

6,6781,3311,762

86932

1,4781,0896,2508,439

4,1461,0923,055

11,586377668372

1,980348

7,913

12,7232,6581,0649,001

78,028

4,326

73,70}

-714

72,988

16,14813,497102,633

6,11016,797

1977

88,312

69,4956,46712,3505,1857,165

6,08582,227

68,517263

2594

91152383314161

5,825

20,1967,8203,104

62395934

1,377947170(*)611

220

12,376446

6411,6293,5121,6491,315

1,431

654

300

7,4461,4402,014

861,0441,6431,2196,8719,283

4,7111,1973,515

13,011403727410

2,148380

8,943

13,7102,9001,0769,734

88,312

4,764

83,548

-825

82,723

17,98314,610115,316

6,83016,884

Table 26.—Iowa

1975

12,581

9,105752

2,7241,6011,123

1,77810,803

9,09143

42(*)52121

(*)39762

3,0841,1416661125451541063

(*)125

5

1,943574211922492430044

56

922759

817155260139193170927

1,268

576162413

1,564441065822641

1,089

1,71226233

1,417

12,581

645

11,936

104

12,040

2,7752,04716,862

5,8942,861

1976

13,145

10,183891

2,071851

1,220

1,08012,065

10,16047

46131-7

(P)36885

3,4141,2627361329521741213

(*)128

6

2,152685113424498833355

70

1093269

893163289243212185

1,0351,404

681179502

1,770481156526445

1,234

1,90528533

1,587

13,145

699

12,446

110

12,556

2,9402,24217,783

6,1722,874

1977

14,777

11,3351,0522,3891,0181,371

1,26513,512

11,45647

47126

-12(D)

351,032

3,9191,3997881432591931374

(*)166

6

2,5207358165286

1,19136553

93

1223876

1,001176327248234214

1,1071,556

778196582

1,989511237129350

1,402

2,05730735

1,714

14,777

774

14,002

104

14,106

3,2712,42519,803

6,8782,879

Table 27.—Kansas

1975

9,619

7,444622

1,554623930

7408,879

7,14931

30(*)1647

138(*)20

590

2,025730266(*)303614510964

(*)78

2

1,29533184115426273479

94

923118

826244216164160140719

1,042

442133308

1,31029895020029

912

1,730342296

1,092

9,619

563

9,056

633

9,689

2,2301,66513,584

5,9582,280

1976

10,607

8,324740

1,543488

1,055

6189,988

8,11133

33(*)264(D)237

(D)698

2,251813299(*)324216212375

(*)78

2

1,43842203817127988484

148

1123422

910252245175180156797

1,146

529148381

1,48135965623133

1,031

1,878376293

1,209

10,607

624

9,983

675

10,657

2,4671,83414,959

6,5072,299

1977

11,749

9,227870

1,652449

1,203

58711,162

9,11637

37(*)319(D)289

820

2,506916328(*)304717914079

(*)111

2

1,590512245186309105498

178

1304225

1,022273284186203175883

1,225

613164448

1,691371066127936

1,172

2,046412308

1,326

11,749

690

11,059

753

11,811

2,7532,03016,594

7,1342,326

Line

1

23456

78

910

1112131415161718

1920212223242526272829

30

3132333435363738

3940414243

444546474849505152

535455

565758596061

62

63646566

67

68

69

70

71

727374

7576


36 SUEVEY OF CUEKENT BUSINESS October 1978

Tables 28-39.—Personal Income[Millions

Line ItemTable 28.—Minnesota

1975 1976 1977

Table 29.—Missouri

1975 1976 1977

Table 30.—Nebraska Table 31.—North Dakota Table 32.—South Dakota

1975 1976 1977 1975 1976 1977 1975 1976 1977

67

74


Total labor and proprietors' income i 2_.

By type


FarmNonfarm 2

17,722 19,197

By industry 3

FarmNonfarm.


other.4Agricultural servicesForestry, fisheries, and other 4

MiningCoal mining. _Oil and gas extractionMetal miningNonmetallic minerals, except fuels

Construction


Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsTobacco manufacturesRubber and miscellaneous plastics

products

Leather and leather products

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

vehicles.Motor vehicles and equipmentOrdnance 5Stone, clay, and glass productsInstruments and related products _.Miscellaneous manufacturing industries

14,4131,2102,0991,0631,036

1,23916,483

13, 71850

491

25411

23022

1,064

4,1741,739

6132456

4963198627

(*)94

24

2,4361103381

44992926651

89

Transportation and public utilitiesRailroad transportationTrucking and warehousingWater transportationOther transportationCommunicationElectric, gas, and sanitary services._


Finance, insurance, and real estateBankingOther finance, insurance, and real estate. _

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness and repair servicesAmusement and recreation including

motion pictures.Professional, social, and related services.—

Government and government enterprises.Federal, civilianFederal, militaryState and local

Derivation of personal income byplace of residence

Total labor and proprietors' income by placeof work.


Net labor and proprietors' income by place ofwork.

Plus: Residence adjustmentNet labor and proprietors' income by place of

residence.Plus: Dividends, interest, and rent7

Plus: Transfer paymentsPersonal income by place of residence..

108248

1,37325733035

255271224

1,5301,807

235658

2,57389

13264

42284

1,783

2,76544960

2,256

17,722

994

16,728

- 2 3

16,705

3,0872,871

22,664

15,9041,4341,860

6091,250

79618,401

15,44558

562

292

()26224

1,243

4,6991,97568728615693609633(*)116

25

27241363890484

1,02130355

104

12228783

1,54227337535303305250

1,6512,012

1,036259777

2,9131081467148695

2,007

2,95645362

2,441

19,197

1,097

18,101

-20

18,080

3,4463,139

24,666

22,343

17,5521,6823,1091,6951,414

1,87020,473

17,30067

652

258)

()22526

1,382

5,3292,176745326361741610637(*)135

3,15316441102558

1,19135057

130

20,548

17,0961,4102,042600

1,442

69319,855

16,55251

51(*)1413245253

1,162

5,1272,05960613

20415239241920C)

156

3,0687567231401429506533

520

22,578

18,9781,6781,922308

1,614

40722,171

18,64257

571

148(D)

()50

1,311

5,9012,3206571323617543047633(*)119

181

3,5819177253430509570634

138333

1,70829542034338342279

1,7922,263

1,184285900

3,31611516178573102

2,287

3,17349666

2,612

22,343

1,206

21,136

-25

21,111

3,8453,381

28,337

1626778

1,95327049942419424298

1,5652,239

1,071285786

3,244105188109591119

2,132

3,303961276

2,065

20,548

1,072

19,476

-1,151

18,325

3,8953,883

26,103

17882

2,22031457147454490343

1,7032,458

1,221312

3,625120205122664132

2,381

3,5281,004291

2,233

22,578

1,180

21,398

-1,248

20,150

4,2704,149

28,569

25,460

20,9491,9892,522694

1,829

77424,686

20,89663

631

158

491,483

6,7072,5017171224318946752435P)132

183

4,20610593300472555665665

974

6,962

4,980384

1,598977622

1,0905,872

4,69125

224110

C)14443

1,0015023387111666243

(*)35

4992119228012610922

30

19790

2,48034066349510540376

1,9322,694

1,359340

1,020

4,019128222134715144

2,675

3,7901,124268

2,397

25,460

1,299

24,161

-1,407

22,753

4,7514,439

31,943

312811

599199154(*)3016254538725

38999289

94830582915623

652

1,181236153793

6,962

362

6,600

-122

6,478

1,5291,072

9,079

7,188

5,612463

1,112446

5826,606

5,31826

25133

(D)20

(D)14522

1,1485603623131974293

(*)55

5892622249115112626

42

248172(*)3318360598794

447110337

1,05335623218026

719

1,288246162880

7,188

398

6,790

-136

6,655

1,6791,153

9,486

7,955

6,151538

1,267509757

6667,289

5,88027

26(•)

39(D)

25(D)

15604

1,2525783593152081343

(*)60

67428242910417914531

42

403814

766269195(*)3520365657866

508118390

1,16037683519528

797

1,409258171

7,955

434

7,521

-147

7,374

1,8621,255

10,491

2,922

1,854118950714236

7662,156

1,57210

10(*)

351022

(*)4

212

1847144

()1617

(*)(*)

(*)

11322

(*)6521022

2,828

2,076142610348262

4152,413

1,80811

11(*)

521334- 14

2581987846

1818

(*)

(*)

1213

()

587

23

12(*)3

1954739

()5247234278

3564

32614201139

584154143287

2,922

157

2,766

-85

2,681

645424

3,750

13

4

2265644

()59552593151163977

37317221242

275

606136147323

2,828

172

2,656

-100

2,556

697469

3,722

3,039

2,233162643347

4042,634

1,99211

11(*)

671746-14

289

1968852

2128

(*)2

(*)

1084

2556149)

()6565

2803411344490

421192413457

314

643143147352

3,039

186

2,853

-109

2,744

778522

4,044

2,501

1,679125696442254

4922,008

1,49010

10(*)

36(*)

1269

151

21412794

)1723

(*)3

8714(*)(*)1021102

1192

1702060

()4337192281

1004060

33713201439

51814474300

2,501

145

2,356

5

2,361

584465

3,410

2,485

1,873149463202260

2452,239

1,67710

10C)41

(*)2

()177

257148108(D)

()1833

C)4

10817

P1424122

10

31902466

()4941206310

1164571

3701522154111

266

56215877328

2,485

158

2,327

649512

3,494

2,990

2,049174768473295

5192,471

1,87811

11(*)44

(*)3

()214

286161116

)2043

(*)

125211

(D)1631132

10

13

2142676

()5544221

1355085

4141624174712

297

59316080353

2,990

173

2,817

7

2,824

724557

4,104

Per capita income (dollars)Total population (thousands).

5,7793,921

6,2373,954

7,1293,975

5,4764,767

5,9684,787

6,6544,801

5,8821,544

6,1121,552

6,7201,561

5,888637

5,773645

6,190653

5,009681

5,097 5,957




by Major Sources, 1975-77of dollars]

Table 33.—Southeast

1975

179,260

150,21112,11616,9324,83812,094

6,111173,149

136,913712

567146

4,3482,6841,151

45469

11,784

40,79722,1073,5815,1332,7102,1571,5594,179403(D)1,195

(D)

18,6901,8941,3472,3042,3682,6192,8232,143

735

1,571445441

13,4601,8243,009709

2,0583,6532,20711,65219,152

8,3382,2616,078

26, 6691,2651,5151,7614,566877

16,685

36,2359,2636,20020,772

179,260

9,473

169,787

1,962

171,749

30,43037,541

239,720

5,02847,676

1976

200,529

167,29814,49418,7375,00713,730

6,386194,143

154,966799

617182

4,7082,5971,578

36496

12,936

47,54625,7164,0176,1563,2542,5441,7524,744467920

1,432

430

21,8302,3361,6192,6822,6742,9843,3142,358

1,046

1,780532503

15,1672,0033,435795

2,2824,1482,50512,83921,310

9,7402,4547,285

29,9221,4531,6641,9695,225989

18,622

39,17610,2226,32422,630

200,529

10,599

189,930

2,170

192,100

33,71441,058

266,872

5,53648,207

1977

222,957

185,71317,13720,1074,50615,600

5,956217,001

174,757855

672182

5,3102,8391,878

43550

14,857

53,93328,4604,4066,6383,4522,8691,9805,335536978

1,844

423

25,4732,6681,8323,1163,0753,5063,9552,635

1,421

2,040672553

17,1892,1663,986899

2,6244,7202,79414,29623,666

11,1292,7198,410

33,5221,5721,8082,1666,0301,083

20,863

42,24410,8986,64224,704

222,957

11,733

211,224

2,328

213,551

37,43844,477

295,466

6,05548,797

Table 34.—Alabama

1975

12,793

10,626894

1,273382891

44112,353

9,68749

252423219115

(*)26850

3,4431,63324034328128390212(D)

6156

(D)

1,81020642669247138110196

50

1022325

8571382014235256186786

1,250

531154377

1,688479815227433

1,084

2,666921316

1,429

12,793

720

12,074

230

12,303

1,6752,777

16,756

4,6353,615

1976

14,476

11,9921,0751,409425984

48613, 990

11,05954

2825246197

(D)(D)27969

3,9861,894266423344334102232(D)(D)153

9

2,09326955760282148141191

65

1183034

9861482354640305212887

1,397

619173446

1,9155410817032136

1,226

2,9301,022328

1,581

14,476

840

13,636

239

13,875

1,8423,054

18,771

5,1383,653

1977

16,068

13,3931,2811,393288

1,106

35115,717

12,51052

3022270216(D)(D)29

1,138

4,5372,109292444357371119263(D)(D)222

9

2,42831662868320169173193

104

1404340

1,1241612745143359236

1,0001,556

726194532

2,1075712018734538

1,360

3,2071,095339

1,774

16,068

935

15,133

270

15,403

2,0393,303

20,745

5,6223,690

Table 35.—Arkansas

1975

6,893

5,155463

1,276658617

7386,156

5,05928

26267

(D)329

(D)445

1,667769223(D)831356686

(D)C)66

53

89817780671129516222

29

527230

516112144326126105414754

27793183

89234585813824

580

1,097258133707

6,893

363

6,530

9

6,539

1,2571,719

9,515

4,5102,110

1976

7,577

5,877565

1,135463672

5427,034

5,83030

26489

(D)(D)

9(D)496

2,008924256411031737510624

(*)83

62

1,0842031028814112020032

34

607036

583125161331146116460837

331105226

99640626515227

649

1,204280141784

7,577

411

7,165

1

7,166

1,3801,876

10,422

4,9232,117

1977

8,788

6,648679

1,461690771

7848,004

6,70334

295

103(D)(D)10

(D)598

2,3621,049303451062008712028

(*)104

57

1,31323911611516715526042

43

637639

650135184331167128502939

385120265

1,12942687217629

742

1,300294142864

8,788

464

8,325

-3

8,321

1,5292,028

11,878

5,5402,144

Table 36.—Florida

1975

31,346

26,7002,0352,611592

2,019

91830,427

24,049261

23725135(D)30

(D)97

2,470

3,9041,78753730185221326329172592

24

2,1161647044310268460461

13

2077147

2,672196366101739880390

2,1344,176

1,968434

1,534

6,330434302337

1,134357

3,766

6,3781,221940

4,218

31,346

1,515

29,831

-32

29,799

8,5438,268

46,610

5,6318,277

1976

33,807

28,6472,3472,813584

2,228

95532,852

26,040282

25032133-129896

2,302

4,3091,990573342142533623681826114

28

2,3181827648323289520507

17

2119154

2,947209400107799982451

2,3024,557

2,348452

1,897

6,861482319377

1,207395

4,081

6,8121,312975

4,525

33,807

1,627

32,181

-30

32,151

9,6719,171

50,993

6,1058,353

1977

37,500

31,6242,7773,099522

2,577

92936,571

29,393310

27535135-1159

1112,604

5,0072,205634332282734134122625138

24

2,8012258561385361587618

23

25114065

3,325226477119948

1,095459

2,5325,040

2,723503

2,219

7,724516348414

1,417437

4,591

7,1721,3391,0304,803

37,500

1,801

35,700

-31

35,668

10,78410,044

56,496

6,6848,452

Table 37.—Georgia

1975

19,505

16,5971,2681,640517

1,124

67118,834

14,94467

452278

(*)1175

1,058

4,3432,70952494339733518418317(D)110

(D)

1,63421263159173192154229

209

1613051

1,73221836021440444250

1,7262,099

1,084274810

2,75612114922152478

1,664

3,8901,109523

2,257

19,505

1,013

18,492

-49

18,443

2,7923,561

24,796

5,0294,931

1976

21,925

18,6081,5361,781523

1,258

68121,244

16,97576

492788

(*)2

(*)85

1,127

5,2343,236596

1,149489392209224(D)(D)137

20

1,99826374192202207182252

344

1843761

1,95022241826488505291

1,8972,292

1,232292940

3,08016216524760087

1,819

4,2691,204599

2,466

21,925

1,134

20,792

-73

20,719

3,0213,825

27,565

5,5314,984

1977

24,308

20,7951,8191,694258

1,436

41623,892

19,18780

512910322

(*)99

1,326

5,8923,581664

1,260513446243250(D)(D)161

19

2,31129686226243249211243

433

2164564

2,22724047532567582331

2,1612,549

1,371308

1,064

3,47718017927270397

2,046

4,7051,345671

2,689

24,308

1,263

23,045

-84

22,961

3,3524,045

30,358

6,0145,048

Table 38.—Kentucky

1975

12,475

9,9261,0041,544497

1,048

57011,905

9,73030

29(*)99893333

(*)32712

3,0951,27127927189791382055517397

30

1,824834726222247538418

177

972534

8942332172457200164725

1,218

440146294

1,618531067620149

1,132

2,175514429

1,232

12,475

664

11,811

117

11,928

1,9722,652

16,551

4,8873,387

1976

14,113

11,1701,2231,711540

1,170

64113,472

11,09235

341

90780468

(*)36864

3,6351,46331161197931552586818995

36

2,1721085731225653247219

229

1093640

1,0312712492663232189783

1,402

543165378

1,893621238523355

1,336

2,380569461

1,349

14,113

743

13,371

110

13,481

2,2232,896

18,600

5,4143,436

1977

15,649

12,4451,4781,726418

1,307

52615,123

12,60137

361

1,05193381

(*)37

1,010

4,1881,6243426821110516929784200117

33

2,5641166735830859357324

310

1324043

1,1722942923172267216848

1,546

631187444

2,118671339328160

1,484

2,522608480

1,434

15,649

806

14,842

124

14,966

2,4843,111

20,561

5,9453,458

Table 39.—Louisiana

1975

14,158

11,8941,0311,233271963

34113,817

11,39254

3025960(D)901(D)58

1,244

2,4271,361288(D)5221181492210

P,1

1,0671439

10418711192299

6

921012

1,399139208383157296215

1,0061,501

639175464

2,1618110316345858

1,299

2,425446319

1,660

14,158

720

13,438

2

13,440

2,2692,571

18,280

4.8033,806

1976

16,267

13,5491,2691,449242

1,207

31415,954

13,35765

3432

1,206(D)1,144(D)62

1,640

2,8161,583317(D)6725292580238(*)(D)

1

1,23317510113218122118336

6

1091114

1,568142239432182335237

1,1371,720

739198541

2,4679611518254163

1,470

2,596485274

1,837

16,267

828

15,439

21

15,460

2,3782,842

20,680

5,3373,875

1977

18,326

15,1091,5011,716344

1,372

41117,914

15,13767

3730

1,435(D)1,371(D)64

1,789

3,2071,792339(D)75286100684268(*)(D)

1

1,41419911132241143159369

9

1251215

1,764153277484209381260

1,2881,952

843221622

2,79210312720062169

1,671

2,778529296

1,952

18,326

919

17,407

8

17,415

2,6503,122

23,187

5,9133,921

Line

1

23456

78

910

1112131415161718

1920212223242526272829

30

31323334353637384039

414243

444546474849505152

535455

565758596061

62

63646566

67

68

69

70

71

7273

74

7576



Tables 40-51.—Personal Income[Millions of

Line Item

Table 40.—Mississippi

1975 1976 1977

Table 41.—North Carolina

1975 1976 1977

Table 42.—South Carolina

1975 1976 1977

Table 43.—Tennessee

1975 1976 1977

Table 44.—Virginia

1975 1976 1977

10

1112131415161718

1920212223242526272829

30

31323334353637

67

74


Total labor and proprietors' income 12

By type


FarmNonfarm 2

By industry 3

FarmNonfarm.


other 4

Agricultural servicesForestry, fisheries, and other 4

MiningCoal miningOil and gas extractionMetal miningNonmetallic minerals, except fuelsConstruction


Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsTobacco manufacturesRubber and miscellaneous plastics prod-

ucts.Leather and leather products

Durable goodsLumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipmentTransportation equipment except motor

vehicles.Motor vehicles and equipmentOrdnance 5

Stone, clay, and glass productsInstruments and related productsMiscellaneous manufacturing industries.

Transportation and public utilitiesRailroad transportationTrucking and warehousingWater transportationOther transportationCommunicationElectrical, gas, and sanitary services


7,135

5,739485912276635

3826,753

5,300

32201290

77(*)

427

1,8847331664021985337530

(*)72

13

1,1511901182590103154345

18

8,152

6,472578

1,102368733

504

6,097

362115131

(D)119

(*)(D)506

2,2188581865226499368733

(*)86

16

23314234102121190381

22

9,179

7,191688

1,300470829

6148,565

6,890

352312159

(D)146

(*)(D)588

2,52093320355275115449834

(*)

16

26716036118145240420

21,217

17,6541,3012,2621,0051,257

1,17020,047

16,088

594712461

(*)C)45

1,149

6,4894,215366

1,9894292501634522

377161

25

2,2742475307322740543328

45

23,732

19.6151,5432,5751,1471,428

1,28722,445

18,255

70531751-11

(*)52

1,258

7,591

4312,2865262971834982

420221

34

2,6933096338828447348836

63

26,052

21.7251,8142,514895

1,619

1,05125,001

20,385

75581758-11

(*)59

1,399

8,5055,381452

2,4675883441995671

452273

37

3,12534272810532255157340

92

10,084

8,646615824207617

9,786

7,529

37241320

(*)(*)(*)19670

3,2022,281118

1,176245178594054392

1

921113305411025113928

11,488

9,841749898179718

25711,231

8,752

41261420

(*)(*)(*)

19734

3,8742,758

1371,447

298208

66461

54

132

1,115142416613730516533

12

12,624

10,809884

116815

19512,430

9,815

45291622

(*)

(*)22

840

4,3233,013

1511,541

311230

72520

64

176

1,3101584379

166363204

37

15

Finance, insurance, and real estateBankingOther finance, insurance and real estate._.

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness and repair servicesAmusement and recreation including

motion picturesProfessional, social, and related services.

Government and government enterprises _Federal, ciyilianFederal, militaryState and local

Derivation of personal income by placeof residence

Total labor and proprietors' income by place ofwork

Less: Personal contributions for social insuranceby place of work

Net labor and proprietors' income by place of work.

Plus: Residence adjustmentNet labor and proprietors' income by place of.

residencePlus: Dividends, interest, and rent7


Personal income by place of residence.

651429

464671022921140104413735

29395197

96141609813514

613

1,454335258861

7,135

6,746

656,811

1,677

9,472

831437

528811173024161116457818

339106233

1,065476511015716

670

1,550364249938

8,152

440

7,711

697,780

1,1281,837

10,746

1942

599881383428183129507913

385119266

1,184497112117818

747

1,675402251

1,021

9,179

8,690

768,766

1,2512,002

12,019

1667346

1,34712447612116350270

1,2922,079

260622

2,7459718619343965

1,764

3,960632960

2,368

21,217

1,168

20,049

-3220,018

3,1413,723

26,882

18495

1,48312653613127389292

1,4172,323

997278719

3,0659920021650577

1,968

4,190698918

2,573

23,732

1,306

22,426

-2822,398

3,5243,998

29,920

20312444

1,69513761016143450339

1,5832,568

1,101303797

3,40111021023854782

2,215

4,616737962

2,917

26,052

1,441

24,611

-3124,580

3,9174,293

32,791

1173934

542751421729168111491974

403104299

1,190627912317431

722

2,257472632

1,153

10,084

536

9,548

1609,708

1,4401,986

13,134

1294836

628751682233192138547

459112347

1,354758813720436

814

2,479557680

1,242

11,488

617

10,871

18011,051

1,6252,106

14,781

14858

723811922435219172611

1,217

515124391

1,518859615123141

915

2,614567683

1,364

12,624

677

11,947

20112,149

1,7932,244

16,186

15,867

13,3131,1151,438197

1,241

26415,603

12,905

34313

1518262439947

4,7522,6654332093891882008421115221

159

2,08713917622937633830697

109

17,960

14,8801,3261,754354

1,400

42717,533

14,578

354

1134871839

1,015

5,4693,0344892444702192309451317

232

176

2,436175208271380385374109

152

20,006

16,5351,5691,902'319

1,583

40419,602

16,429

41384

1295592243

1,177

6,2123,369529257497253258

1,0291320337

177

2,843201229326422462450128

185

1815186

1,0171713791211728058

1,1941,664

742214528

2,40311115113138672

1,552

2,698805156

1,737

15,867

885

14,981

-23314,749

2,2063,092

20,046

22160101

1,1691894441313332764

1,3541,847

867235632

2,70412616814643881

1,745

2,955924160

1,872

17,960

987

16,973

-22216,751

2,3383,373

22,462

26170109

1,3372045271514537372

1,4882,057

979259720

3,008138182161

1,934

3,173987168

2,019

20,006

1,097

18,909

-26218,647

2,5943,628

24,869

21,042

18,3131,3021,427225

1,202

29820,744

14,453

52457

3913572329

1,391

2,0863503222051751765106

218100

24

1,897179172154223159377381

61

1293034

1,45822330351302389190

1,0972,076

242641

3,12215017217460075

1,951

6,2922.3511,5142,426

21,042

1,132

19,910

1,82621,737

3,1913,822

28,749

23,387

20,2591,5551,574180

1,393

27723,110

16,358

6251113513144230

1,533

4,5562,3723913932392031975197

250143

29

2,184224212191243181411417

87

14534

1,66426834361338436218

1,2122,334

1,034260775

3,61217419419474790

2,213

6,7522,5951,5182,638

23,387

1,254

22,133

2,01924,153

3,5274,220

31,899

25,946

22,3771,8241,745165

1,580

24325,702

18,364

55113763355333

1,750

5,1422,6264254372502292275757

264184

27

2,516254236227276200463477

141

1633840

1,86029038967380487246

1,3442,568

1,206290916

4,05218121121489894

2,454

7,3382,7611,5962,981

25,946

1,387

24,559

2,18426,743

3,8794,624

35,246

Per capita income (dollars).__Total population (thousands) _

4,0472,341

4,5432,365

5,0302,389

4,9405,441

5,4785,462

5,9355,525

4,6652,816

5,1972,844

5,6282,876

4,8044,173

5,3054,234

5,7854,299

5,7724,981

6,3145,052

6,8655,135



October 1978 SUKVEY OF CURRENT BUSINESS 39by Major Sources, 1975-77dollars]

Table 45.-West Virginia

1975

6,744

5,64960449112479

226,723

5,779

99

(*)1,1821,110

54(*)17422

1,608598;58

(D)36174138916

(D)(D)14

1,010401146591835039

12

202712

5621281121320124164373624

19669127

80332523610323

557

94419920725

6,744

368

6,376

-101| 6,275

9601,694

8,929

4,9621,799

1976

7,644

6,3897185381

537

157,629

6,571

10101

1,3731,229127(*)17492

1,85270664

(D)42214646719

(D)(D)17

1,145529

5181061015343

15

227714

6311461271623137182386687

23179152

90937574011825

632

1,05821321825

7,644

413

7,232

-1167,116

1,0581 1,860i10,033

5,4761,832

1977

8,511

7,06282562420604

318,480

7,337

11111

1,4671,294155(*)18639

2,03877772

(D)43174951925

(D)(D)20

1,26153105831071166244

19

246812

7131571502124155205431761

26491172

1,01342624413028

706

1,14323423886

8,511

454

8,057

-1257,932

1,1662,032

11,129

5,9861,859

Table 46.—Southwest

1975

75,939

63,0415,3397,5591,4556,104

1,94273,997

59,243

28525233

3,80846

3,082511170

5,701

13,6485,5161,271(D)578277682

1,253975(D)35056

8,131379168735

1,3291,8811,1861,246

237

568249153

5,920647

1,279241

1,0431,4701,2395,8188,528

3,7831,0332,750

11,751453684547

2,403314

7,351

14,7543,8392,3928,523

75,939

3,907

72,032

12172,153

15,02912,944

100,127

5,46918,307

1976

86,069

71,5736,3958,1011,4386,664

2,01884,051

67,609

31826949

4,89657

4,083586170

6,547

15,6466,4201,457(D)670330759

1,4751,163(D)41669

9,226455191834

1,4602,1561,3731,327

293

679282176

6,710723

1,454263

1,1861,6951,3906,4489,568

4,4681,1523,317

13,009528735611

2,779356

7,999

16,4424,1932,5129,736

86,069

4,389

81,680

22281,902

16,91714,251

113,070

6,01718,790

1977

97,454

80, 7347,6469,0741,4217,653

2,07995,375

77,739

35430450

5,84483

4,955614192

7,791

17,9957,2741,601(D)705387872

1,6831,341(D)51974

10, 720557210

1,0481,5982,5411,6651,439

356

794326185

7,704782

1,721305

1,3561,9371,6037,25410, 795

5,2711,3023,969

14,732568811672

3,212397

9,071

17,6364,5042,56510,567

97,454

4,933

92,521

-2492,497

19,05115,485

127,032

6,64219,127

Table 47.-Arizona

1975

8,693

7,496590607160446

2598,433

6,365

4444

(*)419

(D)(D)3979

684

1,30827399

(*)(D)(D)81212

(*)173

1,035511110056154288216

16

606121

5755090

(D)(D)178162453

1,043

448151297

1,39095744625643

877

2,068478299

1,291

8,693

446

8,247

-148,233

1,8231,868

11,924

5,3912,212

1976

9,707

8,275693739241498

3479,359

7,052

4746

(*)462(D)(D)42910673

1,465312113(*)(D)(D)89243

(*)203

1,152561312461182310230

19

666824

65958103

(D)(D)197187497

1,163

541166375

1,545115815128849

961

2,308530305

1,473

9,707

490

9,217

-209,917

2,1232,050

13,370

5,9442,249

1977

10,952

9,375828750173576

29510,657

8,172

5453

(*)457

(D)(D)41512892

1,735349119(*)(D)(D)105285

(*)244

1,386741515073235360269

23

907324

75762123

(D)(D)227213573

1,307

638182456

1,759123905632353

1,113

2,485574309

1,602

10,952

553

10,399

-2610,373

2,3962,174

14,943

6,5092,296

Table 48.-N e w Mexico

1975

4,203

3,507261435160276

2034,000

2,749

1313

(*)307(D)(D)11244319

27710843

(D)(D)(*)21714

(*)12

169232714212921

5

21225

3234360

(D)(D)89105198478

15650107

67841312220921

355

1,251393178679

4,203

222

3,981

-303,952

730858

5,540

4,8431,144

1976

4,699

3,953319427127300

1754,524

3,144

14141

391(D)(D)15948350

32012749

(D)(D)C)24918

(*)13

1932921114223325

7

22227

3715068

(D)(D)101123219536

18757130

75549332423623

391

1,380419186775

4,699

248

4,450

—264,424

829956

6,209

5,2981,172

1977

5,321

4,49838444095345

1465,176

3,654

16151

477(D)(D)19655433

37814753

(D)(D)

1271124

(*)14

2323522318263931

6

29223

4235483

(D)(D)111142250602

21864155

85652362727327

442

1,522475195853

5,321

282

5,040

-305,010

9291,032

6,970

5,8571,190

Table 49.-Oklahoma

1975

10,407

8,402703

1,302296

1,005

36910,037

7,909

30301

709(D)676

(D)18665

1,740662171

(D)70

(D)8938147C)1024

1,078381756250290150100

48

971615

851732241

189202163769

1,152

490150340

1,50341946624931

1,023

2,128702306

1,120

10,407

546

9,861

1379,998

2,1422,193

14,332

5,2802,715

1976

11,412

9,407835

1,170192978

29711,115

8,769

30301

96617934-217692

1,997755191

(D)85

(D)10145168(*)1134

1,242432269268353140111

65

1312219

948752471

211231183733

1,250

558171387

1,59446937427236

1,075

2,345761345

1,239

11,412

596

10,816

17810,994

2,4002,416

15,809

5,7072,770

1977

13,037

10,589989

1,458330

1,127

45512,582

10,056

34331

1,16828

1,122-220824

2,282844206(D)90

(D)11354184(*)1434

1,439512383295425175128

71

1462121

1,073812891

241257204835

1,394

640193447

1,805501008132040

1,213

2,525783360

1,382

13,037

668

12,369

14812,517

2,7062,617

17,839

6,3462,811

Table 50.—

1975

52,637

43,6363,7855,216839

4,376

1,11151,526

42,219

19816631

2,374(D)2,272(D)99

4,033

10, 3234,473958

(D)462234490

1,186812(D)23148

5,850266138571

1,0091,416719909

168

39017092

4,170480905240735

1,002808

4,3985,855

2,689682

2,007

8,180276485413

1,690219

5,096

9,3072,2661,6095,432

52,637

2,694

49,943

2849,971

10,3448,025

68,331

5,58412,237

Texas

1976

60,252

49,9384,5485,766878

4,888

1,19959,053

48,644

22617947

3,076

2,981(*)95

4,832

11,8645,2261,105(D)527279545

1,396974(D)28359

6,638328154630

1,1161,599890962

203

460190107

4,733540

1,036262832

1,166897

4,9986,619

3,182758

2,425

9,114319528462

1,984248

5,573

10,4092,4831,6766,250

60,252

3,055

57,197

9057,287

11,5668,830

77,682

6,16612,599

1977

68,144

56,2725,4456,427823

5,604

1,18366,961

55,858

25020248

3,7413

3,6295

1055,642

13, 5995,9361,224(D)555329628

1,5901,129(D)35263

7,664397171793

1,2131,8551,0911,011

255

530230118

5,450584

1,226304950

1,3421,0455,5967,492

3,774863

2,911

10,312343584509

2,296278

6,303

11,1032,6721,7026,729

68,144

3,431

64,713

-11664,597

13,0219,662

87,280

6,80312,830

Table 51.-Rocky Mountain

1975

24,612

20,1851,4712,9551,0391,917

1,39023,221

17,792

86842

1,050137425369120

1,899

3,5601,3265905655422815984

(*)10535

2,23438132359223443147224

32

18614562

2,0193764652

278539360

1,5842,761

1,099331768

3,73119218676693129

2,454

5,4301,632724

3,074

24,612

1,280

23,331

2423,355

4,3173,967

31,639

5,5715,679

1976

27,280

22,6801,7632,837714

2,122

1,10126,178

20,262

95905

1,288190572389137

2,178

4,0651,4926646746125517097

(•)12342

2,57346840395253510179225

40

21718165

2,3114395292

313618409

1,7743,087

1,326368958

4,13722720185780145

2,698

5,9161,730755

3,432

27,280

1,419

25,861

2725,888

4,8574,398

35,143

6,0745,786

1977

30,470

25,5082,1062,856410

2,446

78929,681

23,307

1051005

1,611256724482149

2,611

4,6891,66372688268288197104(*)14249

3,02655346452280472213261

47

28234674

2,6104756003

361704466

1,9453,463

1,576416

1,161

4,69824722293923159

3,054

6,3741,884785

3,706

30,470

1,596

28,873

3128,905

5,4314,787

39,123

6,6185,912

Line

1

23456

78

9

101112131415161718

192021222324252627282930

3132333435363738

3940414243

444546474849505152

535455

565758596061

62

63646566

67

68

69

7071

7273

74

7576



Tables 52—63.—Personal Income[Millions of

Line ItemTable 52.—Colorado

1975 1976 1977

Table 53.—Idaho

1975 1976 1977

Table 54.—Montana

1975 1976 1977

Table 55.—Utah

1975 1976 1977

Table 56.—Wyoming

1975 1976 1977

70


Total labor and proprietors income l 2_.

By type

Wage and salary disbursements..Other labor incomeProprietors income 2

FarmNonfarm 2

By industry 3

FarmNonfarm-.


other .*Agricultural serv;eesForestry, fisheries, and other <

MiningCoal miningOil and gas extractionM etal miningNonmetallic minerals, except fuels

Construction


Food and kindred productsTextile mill productsApparel and other textile productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsTobacco manufacturesRubber and miscellaneous plastics

products.Leather and leather products

Durable goodsLumber and wood productsFurniture and fixturesPrimary metal industriesFabricated metal productsMachinery, except electricalElectric and electronic equipmentTransportation equipment except

motor vehicles.Motor vehicles and equipmentOrdnance 5

Stone, clay, and glass productsInstruments and related productsMiscellaneous manufacturing industries.

Transportation and public utilitieiRailroad transportationTrucking and warehousingWater transportationOther transportationCommunication..Electric, gas, and sanitary services-


Finance, insurance, and real estateBankingOther finance, insurance, and real estate.

ServicesHotels and other lodging placesPersonal servicesPrivate householdsBusiness and repair servicesAmusement and recreation including mo-

tion pictures.Professional, social, and related services..

Government and government enterprises.Federal, civilianFederal, militaryState and local

Derivation of personal income by place of residence

67 Total labor and proprietors' income by place o:work.


69 I Net labor and proprietors' income by place of workPlus: Residence adjustment.

Net labor and proprietors' income by place of res-idence.

Plus: Dividends, interest, and rent 7


Personal income by place of residence..

11,900

9,938693

1,269402867

11,412

8,74439

38(*)

35846

18211118

837

1,830691299

22720

1337910

(*)

34

17140135292103127

13,061

11,065824

1,172241931

32712,734

9,81941

41C)

433(D)

245116

(D)927

2,064777335

32823

1478513

(*)101

41

4022

151154326130121

22

14,622

12,388981

1,253178

1,075

28114,340

11,23646

46(*)

544(D)

303147

(D)1,099

2,400860356

43327

1679415

(*)116

1,5404925

179170264155143

25

10412841

92394

184

()290157792

1,347

619158461

1,999849539

35979

1,343

2,668717475

1,476

11,900

577

11,323- 5

11,318

1,857

15,214

12115840

1,043110207

()330178889

1,499

737172565

2,18610210243

401

1,449

2,915764487

1,665

13,061

625

12,436- 5

12, 431

2,3282,051

16,810

17131544

1,181119236

()374199953

1,680

873189684

2,46011611448

473

1,614

3,105845504

1,756

14, 622

13, 924

13, 918

2,6062,228

18, 752

3,267

2,529196542257285

3732,894

2,29122

211

53(*)(*)

4012

272

555239155

2(D)

172136

C)(*)

316207

422172995

16(*)

2285560

()5844

217364

1224676

4582423

(D)120

60315467

382

3,267

178

3,089

27

3,116

531564

4,212

3,673

2,924238511188323

3463,326

2,65425

232

48(*)

3413

317

668272178

31

202438

(*)(*)

(*)

396254

62419461011

(*)

()6949

242411

15453

101

522272512

135D)

67318072

422

3,673

201

3,47133

3,505

584640

4,729

3,964

3,24628243563

372

2023,762

3,03627

252

53- 1

23913

377

758302199

31

222741

(*)(*)

(*)

456295

72024541213

21

()8055

264463

18661

125

606282814

168(D)

72518575

466

3,964

225

3,73839

3,777

652698

5,128

3,028

2,260168600319281

2,630

1,95310

10(*)

11416325313

211

29010139

(*)(D)

11197

21(*)(D)

189102

153

12

(*)

1513

2829856

(*)196147

185346

1074365

4072722

67718773

417

3,028

165

2,863- 2

2,861

612546

4,019

3,187

2,464199524226

2972,890

2,20511

()12318514013

241

10842

()218

22(*)

222126

1597512

(*)

3,457

2,80123442282

340

1463,311

2,51212

()13622633813

300

38512553

25(*)

260152

165

22

(*)

1713

32811665

()7254

201384

1294881

4583223126311

317

68515476

455

3,187

179

3,008- 2

3,007

669606

4,282

1913

36512572

()8261

224424

1505595

517342513

365

79920176

522

3,457

203

3,254- 2

3,252

749660

4,661

4,631

3,97230935148

303

734,558

3,441

9

C)2184442

12012

350

78022883

(*)34

(D)453216

552269

14160

1113390

401514

39676

1221

379170

323509

19862

136

658273410

119

1,11748460

573

4,631

260

4,3713

4,374

752767

5,893

5,286

4,50537141059

351

5,202

3,97311

10(*)

260(D)

51134

(D)447

88125792

CO427

513419

(*)12

3110

16268

1243790

15

482117

45886

1401

4610282

360577

23968

171

7413237.11137

(D

1,22952869

632

5,286

297

4,9883

4,991

850839

6,680

5,984

5,07044047468

406

965,889

4,58811

11(*)

310

67158

543

1,011292101

(*)458

574520

(*)15

7193812

18974

13944

102

18

562920

51993

1611

5111598

405646

79207

856364012

160(D)

1,30054576

679

5,984

334

5,6504

5,654

945912

7,510

1,786

10619413

181

581,728

1,363

6(*)

30830

1684565

230

1056714

3812124511

H111

C)1915442

(*)14394169

194

532330

20930136

40

114

365

49226

1,786

100

1,686C)

1,686

382233

2,074

1,722133219

1218

482,026

1,611

()42554

2246582

246

1217816

()116

43(*)

4316

(*)(*)

7(*)

(*)

1211

2166246

(*)16464582

217

672740

23034137

447

124

41510452

258

2,074

117

1,957- 2

1,955

426262

2,642

2,443

2,002169273

19253

642,379

1,934

()56885

28910094

293

1358417)

()127

44C)

10C)

(*)

1411

2416750

C)18525399

250

823250

25833157

537

144

44510854

284

2,443

136

2,307- 3

2,304

3,073

Per capita income (dollars)Total population (thousands).

5,9872,541

6,5272,575

7,1602,619

5,179813

5,678833 857

5,388746

5,669755

6,125761

4,9001,203

5,4221,232

5,9231,268

6,123376

6,764391

7,562406




by Major Sources, 1975-77dollars]

Table 57.—Far West

1975

135,791

114,3168,39413,0813,01110,070

4,844130,947

102,817850

7101407591846678197

7,340

28,7838,4962,890161772929

1,461989612(*)604

79

20,2862,287483

1,3401,9832,9283,6224,804

571

8671,005395

9,856850

2,012522

2,1392,9751,3578,95914, 698

6,7321,9434,789

24,8401,0731,096681

5,3281,892

14, 770

28,1296,1143,49118,525

135, 791

7,514

128,277288

128,565

24,30126, 008

178,875

6,47427, 631

1976

151,715

127,0999,93414,6832,76711,916

4,714147,001

116,6071,056

8552008861160359213

8,514

32,1929,5563,156185897

1,0951,6391,121668(*)702

93

22,6362,870561

1,4262,1643,1864, 0564,961

805

9611,173473

10, 983906

2,297574-

2,4023,3241,4809,93116,419

8,2182,2016,017

28,4091,2121,226762

6,2612,274

16, 674

30,3946,4943,54420, 356

151, 715

8,337

143,378429

143,807

27,06028,563

199,431

7,10428,071

1977

170,751

142,77311,81016,1672,67313,495

4,804165,947

133,3961,165

947217

1,0041169073229

10,426

36,38710, 7423,516206976

1,2311,8631,264719(*)861

105

25,6453,342660

1,6162,3983,5894,5915,385

1,053

1,1061,378528

12, 331980

2,617617

2,6873,7951,63611,17818,541

9,8052,5137,292

32,5581,3701,360838

7,3482,661

18, 980

32,5516,7953,70622,050

170, 751

9,288

161,462181

161,643

30,06830, 747

222,459

7,78828,563

Table 58.—California

1975

105,821

89,3316,7239,7672,0897,677

3,551102,270

80,190670

609616336

46230135

5,435

22,5236,8442,265136695505

1,205840565(*)558

74

15,679685422906

1,6622,5543,4883,588

495

713834331

7,650535

1,497348

1,7872,3961,0886,92811,351

5,4161,5513,865

19,584579840572

4,3551,415

11, 823

22,0814,6872,80914,585

105,821

5,746

100,075114

100,189

19,01220,170

139,371

6,57521,198

1976

118,179

98,9307,93111,3192,1489,171

3,660114,520

90,716829

74486771-159525152

6,213

25,0867,6592,454156806596

1,350950614(*)646

87

17,427871493956

1,8182,7903,9043,734

710

783972396

8,458560

1,693379

1,9852,6641,1767,66312, 631

6,6251,7674,858

22,439658942640

5,1291, 730

13,341

23,8044,9452,83316,026

118,179

6,360

111, 819172

111, 991

21,18022,202

155,374

7,21921,522

1977

32,814

10,7749,40112,6392,25710,382

3,90928,905

103,460903

82479863o

67829158

7,527

28,2498,5982,733175879666

1,5321,066660(*)789

99

19,6511,045583

1,0742,0173.1254,4044,021

927

8941,122440

9,462606

1,921412

2,2063,0171,3008,60314, 245

7,8852,0135,871

25, 724740

1,044704

6,0352,024

15,176

25,4455,1372,96617,342

132,814

7,057

125, 75766

125,824

23,49523,896

173,214

7,91121,896

Table 59.—Nevada

1975

3,144

2,82414617420154

393,104

2,4908

(D)

(D)63

(P)(D)4318216

1545516

(D)2

(*)2213

(*)C)

2

(D)

99522591216

(D)

(D)

18210

2542434

(*)658348116362

1163580

1,202359359

167367

266

61413796382

3,144

161

2,983-73

2,910

501500

3,911

6,625590

1976

3,567

3,18817420517188

383,529

2,8549

9(*)52

(*)42919280

1746317

(D)2

(*)2515

(*)C)

2

(D)

1117121111421

(D)

(D)

21212

29227411779254131418

14439105

1,3543953810185412

313

675153108414

3,567

179

3,388-84

3,304

555552

4,410

7,198613

1977

4,155

3,71521522611215

344,121

3,39212

11(*)65-153921394

2177420

(D)2

(*)2816

C)(*)

7

(D)

14310223141325

(D)

(D)

33219

341304919510561151474

18046134

1,5584494311208486

361

729151116463

4,155

207

3,949-103

3,846

624590

5,059

7,988633

Table 60.—Oregon

1975

10,049

8,287622

1,139237902

3849,665

7,86161

(D)

(D)26

(P)(D)

124631

2,43860525519251569033

(D)

C)17

(D)

1,833945(D)15013617640

(D)

47

4714320

7791212354466192120753

1,188

461132328

1,52556843726237

1,049

1,80438255

1,367

10,049

590

9,459-129

9,329

1,8242,025

13,178

5,7692,284

1976

11,363

9,410765

1,188195993

34711,016

9,02574

383723

(*)

122722

2,873685282212818110238

(D)(*)22

(D)

2,1881,186(D)16215319047

(D)

(D)

5616623

8871342714976219137837

1,333

552142409

1,72466924230344

1,178

1,99140755

1,529

11,363

665

10,698-126

10,572

2,0392,200

14, 811

6,3682,326

1977

12,894

10,735923

1,235108

1,127

30412,590

10,40180

413929

C)1126896

3,318767309223020711841

(D)(*)27

(D)

2,5511,351(D)20118223958

(D)

(D)

6521224

1,0011453085387254153950

1,510

656160496

1,960741014635150

1,337

2,18945458

1,678

12, 894

753

12,141-167

11,973

2,2792, 398

16,651

7,0072,376

Table 61

1975

16,777

13,874902

2,002665

1,337

87015,907

12,277111

585337112420

1,059

3,667992353

(D)50268144103

(D)(*)27

(D)

2, 675652

(D)25917618677

1,117

(D)

882635

1,173171246130221304102

1,1621,798

740225515

2,529801376354473

1,633

3,631908531

2,191

16, 777

1,017

15, 760376

16,137

2,9653,313

22,415

6,2983,559

L—Washington

1976

18,606

15,5711,0641,971408

1,563

66917,937

14,013143

657840124420

1,299

4,0591,149403(P)61318162118

(D)(*)32

(D)

2,910807

(D)28718219384

1,115

(D)

1003342

1,347184292145263350113

1,3002,037

897252645

2,892931547064289

1,843

3,924989549

2,386

18,606

1,133

17,473468

17,941

3,2873,609

24, 837

6,8783,611

1977

20,888

17,5491,2722,067296

1,771

55720,331

16,144169

719846135523

1,609

4,6041,304455(D)64358185142

(D)

C)39

(D)

3,300935(D)317184213105

1,264

(D)

1154145

1,527199338151298419121

1,4742,312

1,084293791

3,31710617377754101

2,106

4,1871,053566

2,568

20, 888

1,272

19, 615386

20,001

3,6713,863

27,534

7,5283,658

Table 62.—Alaska

1975

3,798

3,4761761462

144

33,795

2,80135

3321163

10742

1,101

1619551

(D)(*)241052

(*)2

(D)

6645

(*)(*)

311

(D)

11(D)

1

4073

133281169630125257

933360

50628124

2075

250

994308259427

3,798

175

3,623-640

2,983

244287

3,514

9,636365

1976

4,710

4,2792451863

183

44,706

3,62156

3531384

12932

1,592

19812673

(D)(*)291373

(*)1

(D)

7152

(*)(*)

3(*)

(D)

10(D)

1

4393

1223113311437146292

1264383

63535144

2856

292

1,085325264497

4,710

217

4,493-967

3,526

312296

4,133

10,124408

1977

4,375

3,8942672142

212

44,370

3,15138

3351824

17323

965

22114583

(D)(*)331584

(*)1

(D)

7758

(*)(*)

43

(*)

(D)

9(D)

1

4603994813513343147320

15656100

66237155

2637

335

1,219368275577

4,375

258

4,116-484

3,632

334345

4,311

10,586407

Tabl

1975

4,500

4,01324424437207

1544,347

2,84820

182

(*)(*)(*)(*)(*)426

27120612812123399

(*)1

1

6564

(D)72

(*)6

(*)

29(D)

6

383(*)362716810647202495

27757220

774158341712838

400

1,499475496527

4,500

254

4,247

4,247

784709

5,739

6,708856

3 63.—Hawaii

1976

4,821

4,28527925827231

1574,664

3,06823

194

(*)(•)(*)(*)(*)380

2842181341233351010

(*)1

1

66(D)(D)

572

(*)8

(*)

2717

431(*)383119811748217553

31464251

866190361914140

439

1,596512492592

4,821

272

4,549

4,549

886817

6,252

7,183870

1977

5,228

4,61332029630265

1805,048

3,36625

215

(*)(*)*(*)(*)378

299226140123338711

(*)1

1

73(D)(D)

482

(*)10

(*)

3017

481(*)433422313050241610

34470274

988214402015745

511

1,682522518642

5,228

293

4,935(*)

4,935

975863

6,773

7,677882

Line

1

23456

78

910

1112131415161718

1920212223242526272829

30

3132333435363738

3940414243

444546474849505152

535455

565758596061

62

63646566

67

68

6970

71

7273

74

7576



By L. A. LUPO

Capital Expenditures by Majority-Owned Foreign Affiliates of I.S.Companies, 1978 and 1979

1 HE first part of this article presentsinitial estimates for 1979—and revisedestimates for 1978—of planned capitalexpenditures by majority-owned foreignaffiliates of U.S. companies.1 The secondpart uses regression analysis to examine

trends in manufacturing affiliates' cap-ital expenditures, and the relationshipof capital expenditures to host-countrymanufacturing output, wholesale prices,and exchange rates for the 1966-77period.

Latest PlansFOREIGN affiliates plan a 16-percent increase in capital expenditures in 1979,to $36.8 billion, following a 15-percent increase this year. There are strong increasesin both years in many areas and industries (table 1 and chart 11). In the precedingdecade, the compound growth rate was 11 percent per year.

The latest plans for 1978, reported inJune, show a 15-percent increase, com-pared with a 10-percent increase re-ported 6 months earlier (see "Re-visions" in the technical note). Theupward revision occurred because 1977expenditures were revised downward;the dollar amounts of 1978 spendingare little changed from earlier plans.By industry, 1978 spending by petro-leum affiliates has been lowered andthat by manufacturing affiliates raisedfrom earlier plans.

NOTE.—Estimates were prepared by JeffreyH. Lowe, under the general supervision ofChristopher Emond.

1. Capital expenditures are expenditures that are made toacquire, add to, or improve property, plant, and equipment,and that are charged to capital accounts. They are on a grossbasis; sales and other dispositions of fixed assets are not nettedagainst them.

A majority-owned foreign affiliate is a foreign businessenterprise in which a U.S. company owns, directly or in-directly, at least 50 percent of the voting rights.

These data are universe estimates based on BEA's semi-annual sample survey. The latest survey, taken in June1978, covered about 4,500 majority-owned foreign affiliates.See the December 1973 SURVEY OF CURRENT BUSINESS,

pp. 21-23, for a description of the methodology used in pre-paring the estimates.

Capital expenditures are reported toBEA in current dollars. Consequently,spending plans are affected not onlyby changes in the prices of goods andservices used in capital projects, butalso by changes in the value of foreigncurrencies relative to the dollar. Affili-ate spending plans for 1978 and 1979were made during a period when anumber of leading countries were experi-encing both inflation, and a sharpappreciation of their currencies againstthe dollar. In combination, these devel-opments tended to increase the cost,expressed in dollars, of capital projectsthat require expenditures of appre-ciating currencies. It is not possibleto assess quantitatively the impactof the changes on expenditure plans,because the necessary data—includingprice indexes for affiliate capital expend-itures in each country, length of timelags between an appreciation and itseffect on affiliate plans, the proportionof affiliate expenditures in each cur-rency, and exchange rates used byreporters to convert such expendituresinto dollars—are lacking. However, itis likely that appreciation and inflation

account for more, and additions toproductive capacity for less, of recentincreases in spending and in spendingplans than in the preceding decade.In constant-dollar terms, the growthof productive capacity probably hasslowed.

By area, sizable increases are plannedin developed and developing countriesin both 1978 and 1979 (table 2). Indeveloped countries, a 16-percent in-crease, to $27.1 billion, is planned for1979, following a 14-percent increase in1978. In developing countries, a 16-percent increase, to $8.1 billion, isplanned, compared with a 25-percentincrease this year. In "international andunallocated7'—which consists of affili-ates, mainly in shipping, that operatein more than one geographic area—a14-percent increase, to $1.6 billion, isplanned, following a small decline.

By industry, petroleum affiliates plana 21-percent increase in 1979, to $12.3billion, compared with a 9-percent in-crease in 1978. The step-up is primarilyin developed countries. Manufacturingaffiliates plan a 15-percent increase, to$17.4 billion, following a 19-percent in-crease; the deceleration is in developedcountries. As a group, affiliates in in-dustries other than petroleum andmanufacturing, in both developed anddeveloping countries, also plan smallerincreases in 1979.

The planned distribution of spendingby area and industry is about the samein both years. By area, 74 percent ofthe total is in developed countries, 22percent in developing countries, and4 percent in "international and unallo-cated" (table 3). By industry, 33 per-cent of the total in 1979 is in petroleum,

42


October 1978

47 percent in manufacturing, and 19percent in other industries as a group.Compared with this year, the share ofpetroleum is up slightly, and the sharesof manufacturing, and other affiliatesas a group, are down, mainly becauseof changes in developed countries.

Petroleum

Petroleum affiliates plan a 21-percentincrease in 1979, to $12.3 billion,following a 9-percent increase this year(table 4). The step-up is largely in theUnited Kingdom and Canada. In mostother countries, affiliates plan muchsmaller increases, or declines, in 1979spending. (The 1979 estimates for petro-leum, particularly by country, may besubstantially revised in subsequent sur-veys, because a number of petroleumcompanies could not provide reliableestimates so far in advance of actualexpenditures.)

SUEVEY OF CUKRENT BUSINESS

In the United Kingdom, spending isexpected to increase 40 percent, to $3.9billion, following an 18-percent increasethis year. The increases in both yearsreflect expenditures for North Sea ex-ploration and development, as well asfor refineries, pipelines, and associatedfacilities to bring North Sea petroleumonshore, with some shift in 1979 topipelines and onshore facilities. Someof the increases are due to unexpectedlyhigh costs of operating in the NorthSea, and some to inflation. In Norway,where spending also is related to NorthSea activities, a 10-percent increase, to$0.6 billion, follows an 18-percent in-crease this year.

Canadian affiliates plan a 24-percentincrease, to $2.1 billion, following adecline in 1978. The increase is forextracting crude petroleum from oilsands, as well as for more conventional

Capital Expenditures by Majority-Owned Foreign Affiliatesof U.S. Companies

CHART 11

Bil l ion $ (Ratio scale40

20

10

8

6

4

2

1

.8

.6

.4

.2

BY INDUSTRY

-

-

— ^

— /

/

-

— s J

1 1 1

yyManufacturing

/

//

/

Other Industries\

\

3"/%f Mining

1 1 1 1

M

y

Petroleum _

/

<\Trade

, . . N

& Smelting

1 1 1

\ —\ ~\ —\ A-

-

1 1 1

BY AREA

Total

** Înternati^national

and Unallocated

Other- Developed /. Countries /

I I I I I I I I I I I I I1 9 6 6 6 8 7 0 7 2 7 4 7 6• Planned


78 1 9 6 6 6 8 70 72 74 76 78

43

exploration and development and forrefineries.

In France, Germany, and the Nether-lands, where most affiliates are engagedin refining and distribution, moderate-to-large increases are planned in bothyears. In Australia and Japan, slightspending increases follow large in-creases. In Australia, rapid growth in1979 in spending for exploration anddevelopment is offset by slowing growthin refinery and pipeline projects. InJapan, spending growth is slowing, aftera large increase in 1978 for liquefiedpetroleum gas facilities, pollution con-trols, and storage facilities needed toassure a 90-day supply of petroleum asrequired by the Japanese Government.

In most developing countries, smallerincreases or declines are expected tofollow large increases this year. InSaudi Arabia—which is in "otherMiddle East"—spending is slowing onsome large projects, including explora-tion and development, a natural gascollection network, additional port fa-cilities, and a saltwater injection systemto assist in more complete extraction ofpetroleum. Spending by affiliates inaother Africa"—mainly in Libya, Ni-geria, Egypt, and Cameroon—is alsoslowing. The spending in Libya in bothyears is for development of a new pro-duction area, and for facilities to exportliquefied petroleum gas. In Indonesia,spending is expected to decline 17percent, following a 61-percent in-crease in 1978; the 1978 increase reflectsdeferrals from 1977, when affiliates wereuncertain about the outcome of nego-tiations with the Indonesian Govern-ment on production-sharing and taxarrangements.

In "international and unallocated/7

affiliates plan a 31-percent increase, to$0.7 billion, following a sharp declinethis year. The increase reflects a modestrecovery in the tanker market in re-sponse to increased demand for petro-leum by importing countries, and in-cludes large expenditures to modernizeand purchase used tankers and to con-struct new tankers. Affiliates also planconstruction of natural gas tankers.

Manufacturing

Manufacturing affiliates plan a 15-percent increase, to $17.4 billion, fol-



lowing a 19-percent increase this year.Large increases in spending are plannedin chemicals, rubber, and electrical andnonelectrical machinery.

In developed countries, affiliates plana 13-percent increase, to $14.5 billion,following an 18-percent increase thisyear (table 5). In Canada, a 25-percentincrease, to $3.8 billion, follows an 8-percent increase; the increase is partic-ularly large in chemicals, nonelectricalmachinery, and transportation equip-ment. The increase in chemicals ispartly for plant modernization andexpansion; it also reflects deferrals, to1979, of some expenditures previouslyplanned for 1978. In nonelectricalmachinery, affiliates manufacturingcomputers plan a substantial increasein the capitalization of computer equip -ment for rental. The increase in trans-portation equipment is for expansionand retooling by automotive affiliates,partly reflecting deferrals from 1978.In contrast, the paper industry planslower spending, as previously started

Table 2.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies,Selected Areas and Industries, Latest Plans for 1978 and 1979

All areas

Developed countriesDeveloping countriesInternational and unallo-

cated _

Allareas

D eveloped countriesDeveloping countriesInternational and unallo-

cated

1978

Total

15

1425

—5

31,768

23,3716,985

1,412

Petroleum

9

824

—33

10,190

6,3443,332

514

Manufac-turing

Industriesother thanmanufac-turing andpetroleum *

1979

Total Petroleum

Percent change from preceding year

19

1825

15,164

12,8862,278

17

1230

25

16

1616

14

Millions of dollars

6,413

4,1401,375

898

36,831

27,1468,070

1,615

21

277

31

12,292

8,0583,562

672

Manufac-turing

15

1326

17,384

14,5182,866

Industriesother thanmanufac-turing andpetroleum l

12

1019

5

7,156

4,5711,641

942

1. Consists of mining and smelting, trade, and the "other" industries shown separately in table 1.

modernization programs near comple- compared with virtually no change

tion; weak prices for paper products areinhibiting new investment.

In France, affiliates plan to increasespending 10 percent, to $1.2 billion,

this year; the increase is mainly innonelectrical machinery—particularlycomputers—and in chemicals andmetals. In most other European coun-

Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1974-79

Percent change from preceding year

Actual expenditures

1974 1975 1976 »• 1977

Latest plans l

1978 1979

Earlier plans 2

1977 1978

Billions of dollars

Actual expenditures Latest plans i

1973 1974 1975 1976' 1977

Earlier plans *

1978 1979 1977 1978

Total _

By industry

Mining and smelting.Petroleum

Manufacturing _

Food products . .Paper and allied productsChemicals and allied products...

Rubber productsPrimary and fabricated metals..Machinery, except electrical

Electrical machineryTransportation equipment..Other .___

Trade .Other..

By area

Developed countries

Canada

Europe

European Communities (9)FranceGermanyUnited KingdomOther..

Other

Japan. _Australia, New Zealand, and South

Africa _

Developing countries _

Latin America .Other AfricaMiddle EastOther Asia and Pacific..

23

- 223

26

244054

6- 1 4

19

262930

2627

- 3

- 2 125

3- 5

- 1 0

- 2 3- 1 1

10

413

14

1322

- 937(*)22

(*)

18

1225520

- 2 1- 1 1

- 4

C)- 1 5

10- 2 2- 1

A

- 9- 4

-14

- 3 29

- 5

- 1 1

- 1 1- 3 7- 9- 1- 6

15

10

18

21225

32146

20

9

9

228312

International and unallocated.

14

1

20

216

37255

15

23

16

252737

Q

57

- 5

2221

15

10- 924

25- 1 2

19

191514

149

16

22

15

15146

201115

14

9

16

2521

- 610

10

2528

- 1 5

- 4- 1 7

26

162717

23- 5

- 7313514

10

12

1

17

18- 825251211

1

12

12

1324

- 421

- 1 2

20.5

1.16.4

9.2

.6

.61.4

.3

.82.6

.91.2

1.72.0

14.2

4.2

8.3

7.31.31.92.41.61.0

.6

1.0

4.2

2.3.4.8.7

2.1

25.3

1.1

7.8

11.6

.7

.92.1.4.7

3.11.11.61.1

2.12.6

17.8

5.5

10.2

1.52.32.72.41.4

1.2

5.4

2.9.6

1.1

2.0

26.8

1.2

8.9

11.3

.7

.72.5

.4

.72.8

1.41.3

2.43.1

18.8

5.0

11.7

1.92.13.62.31.8

1.2

6.4

3.1.7

1.31.3

1.7

24.7

.97.9

10.9

.7

.62.7

.3

.72.7

1.41.1

1.63.3

17.8

5.6

10.5

8.81.21.93.62.21.6

.6

1.0

5.1

2.6.6

1.1.8

1.8

27.5

12.7

.72.4

.3

.73.6

1.01.81.3

1.83.1

20.4

6.2

12.4

10.71.52.04.72.51.7

1.1

5.6

2.6.7

1.4.8

1.5

31.8

.610.2

15.2

1.11.02.5

.3

.74.3

1.12.61.5

2.03.8

23.3

6.2

14.9

12.91.62.75.92.72.0

.9

1.3

7.0

3.31.01.41.3

1.4

36.8

.712.3

17.4

1.2.9

3.1

.4

.65.1

1.33.01.7

2.34.1

27.1

7.5

17.1

14.81.82.97.13.02.3

1.1

1.4

8.1

4.11.21.31.5

1.6

28.7

.710.4

12.2

.8

.72.3

.4

.63.4

1.01.81.3

2.23.2

21.2

5.9

13.2

11.41.52.05.52.31.9

1.3

5.9

2.7.8

1.4.9

1.6

31.6

.711.7

13.7

1.0.8

2.5

.5

.43.8

1.02.11.5

1.93.6

23.7

5.9

15.5

13.41.42.56.92.62.1

1.4

6.6

3.11.01.41.1

1.4

* Less than 0.5 percent (±).r Revised, see the technical note at the end of the article.

1. Based on the BE A survey taken in June 1978.2. Based on the BEA survey taken in December 1977.


October 1978 SUEVEY OF CURRENT BUSINESS 45Table 3.—Distribution of Capital Expenditures by Majority-Owned Foreign Affiliates of

U.S. Companies, Selected Areas and Industries, Latest Plans for 1978 and 1979

[Percent of total]

All areas

Developed countriesDeveloping countriesInternational and unallo-

cated

1978

Total

100

7422

4

Petroleum

32

2010

2

Manufac-turing

48

417

Industriesother thanmanufac-

turing andpetroleum l

20

134

3

1979

Total

100

7422

4

Petroleum

33

2210

2

Manufac-turing

47

398

Industriesother thanmanufac-

turing andpetroleum *

19

124

3

1. Consists of mining and smelting, trade, and the "other" industries shown separately in table 1.

Table 4.—Capital Expenditures by Majority-Owned Foreign Petroleum Affiliates of U.S.Companies, Selected Countries, 1977-79 l

All areas

Developed countriesof which:

CanadaFrance .Germany _NetherlandsUnited KingdomNorway .Japan. .Australia

Developing countriesof which:

ArgentinaPeruOther Western HemisphereOther Africa3

of which:LibyaNigeria

Middle EastIran _Other

Indonesia

International and unallocated

Percent change frompreceding year

Actualexpendi-

tures

1977

18

26

1937

-163536107259

20

()- 2 0

34

105- 1 9

31- 3 5

-25

Latest plans

1978

-9D)

56331818

40

24

68645835

13360-912

-1061

-33

1979

21

27

24D)

14254010

D)2

7

212618

20-3-7128-15-17

31

Millions of dollars

Actualexpendi-

tures

1977

9,317

5,856

1,83210019787

2,400447101187

2,690

64(D)

151644

7784

1,22258

1,164195

771

Latest plans

1978

10,190

6,344

1,669(D)

308115

2,822527

(D)262

3,332

107(D)

237867

179135

1,11465

1,049314

514

1979

12,292

8,058

2,068164351144

3,947581

3,562

109(D)

2511,019

213131

1,042148893260

672

D Suppressed to avoid disclosure of data of individual reporters.1. See table 1, footnote 1.2. Latin America except the Latin American Republics.3. Africa except South Africa.

Table 5.—Capital Expenditures by Majority-Owned Foreign Manufacturing Affiliatesof U.S. Companies, Selected Countries, 1977-79 1

All areas

Developed countriesof which:

Canada _FranceGermanyItalyNetherlandsUnited Kingdom.SpainJapanAustralia

Developing countries.. .of which:

BrazilMexicoVenezuela

Percent change frompreceding year

Actualexpendi-

tures

1977

17

20

23281020

(*)34

-122326

(•)

(•)-25

34

Latest plans

1978

19

18

8C)

35244229529

14

25

32260

1979

15

13

251088

124

4320

- 5

26

591310

Millions of dollars

Actualexpendi-

tures

1977

12,730

10,905

2,8001,1211,662

599516

2,037253552333

1,825

736263225

Latest plans

1978

15,164

12,886

3,0311,1252,243

743731

2,623385602380

2,278

757321360

1979

17,384

14,518

3,7911,2412,415

805822

2,716551719361

2,866

1,200364395

* Less than 0.5 percent ( ± ) .1. See table 1, footnote 1.

tries, increases are smaller in 1979 thanthis year. In Germany, affiliates planan 8-percent increase, to $2.4 billion,after a 35-percent increase this year.Increases in nonelectrical machineryand chemicals are partly offset by adecline in transportation equipment,when 1978 spending is unusually largereflecting the introduction of new cardesigns. In the United Kingdom, affili-ates plan a 4-percent increase in spend-ing, to $2.7 billion, compared with 29percent this year; only the chemicalsand electrical machinery industries planstrong increases. In Japan, affiliatesplan strong increases, which are cen-tered in the nonelectrical machineryand transportation equipment indus-tries.

In developing countries, affiliatesplan a 26-percent increase, to $2.9billion, following an increase of aboutthe same size this year. Most of theincrease is in Brazil, where expendituresare up 59 percent, to $1.2 billion,after a 3-percent increase this year.The step-up is widespread and maypartly reflect the relaxation, in January1978, of restrictions on the use, withinBrazil, of funds borrowed abroad.(Restrictions were tightened again inJune.) The increases also reflect spend-ing for facilities to raise the localcontent of affiliate products; this spend-ing is encouraged by import restrictions.

Mining and smelting, trade, andother industries

Mining and smelting affiliates plana 22-percent increase in 1979, to $0.7billion, after a 6-percent decline in1978. Most of the expansion is indeveloped countries. In Australia,spending plans are up 40 percent,primarily to accelerate coal and bauxiteprojects already underway. In SouthAfrica, spending is expected to nearlytriple; it is mainly for projects involvinguranium and copper. In Canada, a15-percent increase, concentrated inpotash and iron ore projects, is planned.

Trade affiliates plan a 14-percentincrease, to $2.3 billion, after a 15-percent increase in 1978. Most of the1979 increase is in Brazil, where majorexpenditures are planned in both retailand wholesale trade. The 1978 increasesare concentrated in Canada, the UnitedKingdom, and several continentalEuropean countries.



Table 6A.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1976 l

[Millions of dollars]

Allindus-tries

Min-ingand

smelt-ing

Petro-leum

Manufacturing

TotalFood

products

Paperand

alliedproducts

Chemi-cals andallied

products

Rubberproducts

Primaryand fab-ricatedmetals

Machin-ery, ex-

cept elec-trical

Electri-cal ma-chinery

Trans-porta-tion

equip-ment

Othermanu-

facturing

Trade Otherindus-tries

AH countries.

Developed countries.

Canada

Europe.

European Communities (9) _.Belgium and Luxembourg.FranceGermanyItalyNetherlandsDenmarkIrelandUnited Kingdom

OtherNorwaySpain .-SwedenSwitzerland .Other

Japan

Australia, New Zealand, and SouthAfrica

AustraliaNew Zealand.South Africa..

Developing countries.

Latin America

Latin American Republics-ArgentinaBrazilChileColombiaMexicoPanamaPeruVenezuelaOther Central America. _Other and unallocated

Other Western Hemisphere.B ahamasBermudaJamaica.Other and unallocated

Other Africa.

LiberiaLibyaNigeriaOther and unallocated.

Middle East

Iran _ _Other and unallocated.

Other Asia and Pacific.

IndiaIndonesiaKoreaPhilippinesOther and unallocated..


24,689

17,762

5,628

10,476

8,843561

1,2101,91363969084185

3,581

1,633477502136353164

635

1,024

63

292

5,125

2,6292,2891389311110242420249

89

340131320185

583

2938117400

1,085

112973

828

2834735104314

1,802

934

672

489

6

1000

0

°

177

152

262

227

203110184

1660715

2430318

(*)

4,632

1,538

2,816

2,3314573

23549653175

1,759

40638176

18

59

219

1182378

2,235

367

1793227

221

13

462

2718

18837

1(*)

150

482

1937

104322

841

456

1303

1016

127

1,022

10,930

9,097

2,281

6,013

5,503472875

1,506500516

14100

1,520

51042

2861003349

449

354

2651079

1,833

1,491

1,47265

7385

73348

617

1683420

- 191

C)134

24

815

248

26231774

110

689

504

127

305

260204842197441

52

C)

42

231

18

184

137

(*)

(*)(*)(*)

(*)

C)

(*)(*)

45

(*)(*)(*)

593

479

318

143

1131424

40

10

(*)(*)

114

104

^104

58

11290042

(*)

(*)

( • )

(*)

(*)

2,745

2,286

679

1,454

1,36425714431957

2283

19336

903

4724

86

67

442

21

459

408

39515

2181

368826

203

(*)

312

192

74

93

85D)

32

(*)

(*)

031

4

4

21

1416

120

110

1099

5603

31027

0(*)

<*)

(*)

(*)

658

456

59

390

3553

38582626

11

203

352534

212

202

121

1203

1323

2501

6821

(*)

(*)

(*)

2,679

2,414

369

1,753

1,682(D)

327426214

(D)

1543

(*)

(*)(D)

48

265

239

23913

15906

590

(*)

(*)(*)

C)

(*)

(*)

(*)

(*)

(*)17

804

652

155

460

2148

136106223

1152

61

14

152

(*)

(*)

56

41

1,212

338

772

62617

127277

937

(*)(*)

158

1460

143111

100

833

14

146

138

138

(*)

(*)

(*)

(*)

(*)

(*)

1,092

162

643

6203788

2361538

167139

241426

10

64

33

211

11

189

146

1451554

1

(*)

(*)

(*)

39

19

1,602

1,325

226

881

66029

1861365892

149

2226

4011

14520

81

137

521966

276

224

21630

103C)

(*)

2

10

1(*)

27

12

112

23

C)

3,334

2,036

1,095

760

3491675373218

132

41119

1388

16975

44

137

519

319

2201062

31

275

15481531

10090127

12

5043

117

13104

70

1243

780

*Less than $500,000.D Suppressed to avoid disclosure of data of individual reporters.

1. Based on the BEA survey taken in June 1977, but revised to incorporate informationobtained subsequently.



Table 6B.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1977 1


Allindus-tries

Min-ingand

smelt-ing

Petro-leum

Manufacturing

TotalFood

products

Paperand

alliedproducts

Chemi-cals and

alliedproducts

Rubberproducts


Machin-ery, ex-

cept elec-trical


Trans-porta-tion

equip-ment

Othermanu-

facturing


AH countries..Developed countries..

Canada

Eu rope

European Communities (9)..Belgium and Luxembourg..FranceGermanyItalyNetherlandsD enmarkIrelandUnited Kingdom

OtherNorwaySpainSwedenSwitzerland .Other

Japan


AustraliaNew Zealand-South Africa..


Latin America

Latin American Republics-ArgentinaBrazilChileColumbiaM exicoPanamaPeruVenezuelaOther Central America. _Other and unallocated-..

Other Western Hemisphere.BahamasBermudaJamaicaOther and unallocated

Other Africa.

LiberiaLibyaNigeriaOther and unallocated _

Middle East

IranOther and unallocated _


IndiaIndonesiaKoreaPhilippinesOther and unallocated.


27,50720,443

6,169

12,399

10,666537

1,4732,009

727716124364

4,717

1,733542486191278237

762

1,112

77752

283

5,575

2,564

2,278219970

171383392290

3358466

28793

216

175

749

5577

104513

1,417

791,337

845

2423683

106397

1,489

628502

371

8

5000

(*)0014

43

(*)001

1

122

103(D)(D)

126

81

604

122152

(D)05

(D)

21102

18

6

3003

1

(*)(*)

39

01100

28

9,317

5,856

1,832

3,6193,074

19100197488732

1912,400

545447

43245

26

101

303

1871997

2,690

412

26164334

4223

(D)1231

15191

(*)140644

217784

461

1,222

581,164

413

1195

771

12,73010,905

2,800

7,132

6,590469

1,1211,662

599516

21164

2,037

54138

2531492080

552

421

3331177

1,825

1,464

1,44881

7366

86263

58

2252612

17(*)(*)

114

41

(*)0

1328

39

930

280

21134769

129

862661

173

402

35012486532

10389

72

52(*)

44225

32

53

311

22

201

145

1454

44(*)

650

32

2484

C)0

(*)(*)(*)

1

00

(*)

(*)

(*)(•)

55

(*)(*)(*)

4212

702612

443

142

1275

233

(*)

C)

C) t

(*)

()(*)D

2,4352,054

706

1,228

1,13322114814935

1573

18403

952

4338

310

49

70

531

16

382

329

31811

1861

2454

(*)

(*)C)

(*)

(*)

265176

63

93

8112188

121

030

12032

(*)

(*)

(*)

(*)(*)

507

82

414

3813

43726

35

221

33176721

513

188

147

147122223

140

(*)

(*)

21

(*)21

(*)

(*)

(*)

3,6483,359

2,601

2,479109535570341

D

848

122(*)

(D)

(D)

4

260

26013

1770

12560

(*)

(*)(*)

(*)

(*)

(*)

(*)

(*)

979

786

188

5494865849

15696

19

25

1

193

113

1104

85(*)

(*)

1,8401,657

583

922

79625

1693631354

(*)3

170126

0

1

16

136

116

183

174

17412

113

(*)

(*)

C)

C)

(*)

1,3041,094

185

780

7572588

2762142

1132173

23

213

75

44

311

12

210

138

1371567

( * ) f

(*)

(*)

1,7621,399

203

1,000

71534

1921315995

182

194618

15250

67

128

641549

363

281

27231

12218

5421

4554

(*)126

15

1(*)

10

113

53

(39

(*)

3,0701,780

962

639

2821560182017

35735

144(*)

9979

40

13 7

90

571

327

237396741

1599

521723

82016

43

3003

11

141

11130

60

(*)

31

718

* Less than $500,000.D Suppressed to avoid disclosure of data of individual reporters.

1. See footnote 1, table 1.



Table 6C—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1978[Millions of dollars]

Allindus-tries

Min-ingand

smelt-ing

Petro-leum

Manufacturing

TotalFood

products

Paperand

alliedproducts

Chemi-cals and

alliedproducts

Rubberproducts


Machin-ery, ex-

cept elec-trical


Trans-porta-tion

equip-ment

Othermanu-

facturing

TradeOtherindus-tries

AH countries

Developed countries..

Canada

Europe

European Communities (9)..Belgium and Luxembourg.France.GermanyItalyNetherlandsDenmarkIrelandUnited Kingdom

OtherNorwaySpainSwedenSwitzerland-Other

Japan

Australia, New Zealand and SouthAfrica

AustraliaNew Zealand-South Africa..


Latin America

Latin American Republics.ArgentinaBrazilChileColombiaMexicoPanamaPeruVenezuelaOther Central America.-.Other and unallocated

Other Western Hemisphere.BahamasBermudaJamaicaOther and unallocated

Other Africa.

LiberiaLibyaNigeriaOther and unallocated.

Middle East

IranOther and unallocated .


IndiaIndonesiaKoreaPhilippinesOther and unallocated..


31,768

23,371

6,203

14,936

12,945516

1,5622,743881972153215

5,903

1,991619620224260268

937

1,294

1,00361230

6,985

3,257

2,860305

1,100381713862912248013495

3971283

22245

1,026

90179172585

1,372

1091,263

1,330

2437370180

1,412

592

455

243

8

(*)

203

137

78

5545

(D)

6310011

24(*)

0

10,190

6,344

1,669

4,201

3,54839

(D)308(D)115

(D)53

2,822

65252756337

29

262(D)

44

3,332

603

3661076033716

(D)C)

25

237342

(*)201

867

28179135526

1,114

651,049

747

1314

()352

514

15,164

12,886

3,031

8,776

8,085432

1,1252,243

74373134154

2,623

69124

3851653483

602

478

3801682

2,278

1,829

1,80511475722124321814

3606817

251

(*)1410

(*)0

2836

63

27

322

211815

121146

1,128.

840

200

511

430175153291651412

(*)

206

2056641145541

33226

(*)

C)

(*)

(*)(*)C)

81

(*)C)C)

1,040

902

549

322

304

21368137

065

1816722

(*)139

114

113(*)r

(*)

C)

(*)

()(*)(D)

2,484

1,985

795

1,067

9711798114861149332317

57

391

18

499

409

3921617021864

(*)8

10942

(*)(D)

283

192

78

94

8415269113

(*)

(*)

(*)

(*)

(*)

705

530

83

428

400832961146

(*)(*)207

28108451

,13

175

127

127

253

210

65

1

(*)

(*)

(*)

(*)

C)

(*)

4,298

3,966

382

3,276

3,134122573667355

1,332

142(*)

13106319

(*)(D)

35

333

299

29925199011610

(*)

(*)C)(*)

(*)

(*)

(*)

(*)

(*)

(*)

1,103

836

187

588

51426551751312658

88

74(

31

2

267

151

1471691

C)90

1 5

1

400

2,599

2,323

544

1,538

1,326(D)

18772311

(D)8

(D)282

2120

()

276

258

258D)

103)

16

(*)

1,524

1,314

214

952

9232599

37066402

99223

29)

)10

77

70

591

10

210

1861851658

148

(*)

C)

(*)

19

2,034

1,671

264

1,116

86026

21817161

108322

241

256275626

10246

132

160

852352

362

264

25427

13418

4131

2865

10(*)

16

1

C)

3,787

2,014

997

835

19

21

17

122(*)

117109

876

482

38254144

11710

D)912422

100

(*)(*)

7

72

5803

11

166

15151

155

( * ) ,30

103

898

*Less than $500,000. D Suppressed to avoid disclosure of data of individual reporters.1. See footnote 1, table 1.


October 1978 SURVEY OF CURRENT BUSINESS 49Table 6D.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1979 *


Allindus-tries

Min-ingand

smelt-ing

Petro-leum

Manufacturing

TotalFood

products

Paperand

alliedproducts

Chemi-cals andallied

products

Rubberproducts


Machin-ery, ex-

cept elec-trical


Trans-porta-tion

equip-ment

Othermanu-

facturing


All countries...

Developed countries.

Canada

Europe

European Communities (9)..Belgium and Luxembourg.FranceGermanyItalyNetherlandsDenmarkIrelandUnited Kingdom

Other...NorwaySpainSwedenSwitzerland.Other

Japan


AustraliaNew Zealand .South Africa..


Latin America

Latin American Republics.ArgentinaBrazil . ..ChileColombiaMexicoPanamaPeruVenezuelaOther Central America. _Other and unallocated- -.

Other Western Hemisphere.Bahamas . . . .BermudaJamaicaOther and unallocated

Other Africa _

LiberiaLibyaNigeriaOther and unallocated_

Middle East

IranOther and unallocated _


IndiaIndonesiaKorea...PhilippinesOther and unallocated _


36,831

27,146

7,549

17,117

14,830508

1,7732,921

9321,089

164347

7,098

2,287662860165265336

1,072

1,408

1,06763

277

8,070

4,077

3,652384

1,68524

19742736

14651913994

424120

322

280

1,239

152214175

1,285

1951,090

1,469

20304

91199855

1,615

722

611

279

6

3000

( < ) o0

(*)

325

2671

57

111

85

6443

63

(D)0

1511

21(*)

0

(*)C)

19

0700

12

12,292

8,058

2,068

5,520

4,79254

16435130

1444360

3,947

72858164418

33

268(D)(D)

3,562

661

41010956

%17

(D)(*)

4625

251102

(*)

1,019

32213131643

1,042

148893

840

1260

()517

672

17,384

14,518

3,791

9,520

8,705397

1,2412,415

80582232277

2,716

815245511103496

719

487

36126

100

2,866

2,367

2,342166

1,2006

124364

1014

3954915

251

(*)1410

61

3526

85

2857

353

171548

1£6137

1,242

884

236

512

43120377515142615

120

(*)

57

78

41334

358

246

246775

(*)

(*)

(*)C)(*)

(*)(*)(*)111

(*)(*)

943

839

489

314

2947

24360122

(*)

C)105

84

84

27

<*)

(*)(*)

(*)

10

(*)

3,075

2,398

1,126

1,112

1,01110686

19552

1595

34374

1021

77113

10

79

81

58222

677

561

54416

295222103

(*)

(*)

(*)

354

251

102

103

94252510113

(*)

(*)

26

19

1414

103

(*)

C)

(*)

617

475

361

3401540

103

(*)(*)

78

142

126

12517

(*)e

(*)

(*)

(*)

C)

(*)

(*)

(*)

5,117

4,697

580

3,739

3,625

664820452

11,412

113C)

C)38

420

382

38231

2530

15810

(*)(*)

(*)

(*)

(*)

(*)

1,318

1,007

252

684

5933361

38

34

38

3512

311

200

19522

145

)48

2,978

2,642

733

1,637

1,304(D)

195(D)

18104

72

3330

132

140

326

326

32646

()( D ) o

17700

00000

(*)

(*)

1,740

1,325

175

1,058

1,01223

108373

4460

2217185

45D

35D )D )

415

356

35519

172(*)

(*)

C)

(*)

(*)

2,311

1,703

306

1,124

87029

26913370

112

231

254

831595

146

127

771437

607

490

48023

36114

3632

3675

11(*)

27

20

](*)

12

24

122

74

313

1156

(*)

4,123

2,257

1,105

947

4592898222613

201

48747

162(*)

127151

94

923

474

3588265

22013

2237

116108

132

11603

14

134

17117

183

(*)21

(D)

132

942

* Less than $500,000.D Suppressed to avoid disclosure of data of individual reporters.

1. See footnote 1, table 1.



Affiliates in "other" industries—agriculture, public utilities, transporta-tion, construction, and finance andother services—plan a 9-percent in-crease, to $4.1 billion, after a 23-percent

increase this year. In 1979, the increaseis concentrated in Canada and "other"Europe; in 1978, sizable increases areplanned in a number of developed anddeveloping countries.

Manufacturing Affiliates Capital Expenditures and Host-CountryOutput, Prices, and Exchange RatesTHE first part of this article mainly dealt with affiliate spending plans in 1978 and1979, with particular attention to larger projects. This part puts spending ofmanufacturing affiliates in a long-run perspective; it applies regression analysisto (1) test the extent to which spending can be explained by a compound growthequation and (2) examine the relationship of affiliates' spending to manufacturingoutput, prices, and exchange rates.

The main findings are:• Capital expenditures in most countries are increasing fairly steadily at a

10- to 13-percent average compound growth rate.• The increase in capital expenditures is mainly a response to growth in

host-country output.• Inflation in a host country has a small positive impact on capital expendi-

tures.• Appreciation of a host-country currency has a small negative impact on

capital expenditures.

The analysis covers capital expendi-tures by majority-owned foreign manu-facturing affiliates of U.S. companies(CEM) in 11 host countries—Canada,Belgium, Denmark, France, Germany,Italy, the Netherlands, Sweden, Switz-erland, the United Kingdom, andJapan. Use is made of Bureau of LaborStatistics indexes for these countries ofoutput in manufacturing (OM) and offoreign exchange rates (ER) and ofUnited Nations indexes of wholesaleprices (WP).2 Each of the indexes has abase of 1967=100.

The analysis covers 1966-77, yearsfor which BEA has estimates of actualCEM in the 11 host countries; forthose years, CEM in the 11 hostcountries accounted for, on average, 77percent of worldwide capital expendi-tures by manufacturing affiliates ofU.S. companies.

A 12-year period does not provide asufficient number of data points to

2. Bureau of Labor Statistics data are from a May 1978Press release "International Comparisons of Productivityand Labor Costs in Manufacturing," and related documents;United Nations data are from various issues of the MonthlyBulletin of Statistics, and the 1975 edition of the StatisticalYearbook. The data used in the computations are availablefrom the Bureau of Economic Analysis (BE-50), U.S.Department of Commerce, Washington, D.C. 20230.

assess, for each country separately, theeffect on CEM of changes in OM, ER,and WP. Therefore, data are pooled toprovide 132 data points (11 countriestimes 12 years), and regression tech-niques are applied to the pooled data(see technical note).

CEM growth rate

This section examines the extent towhich changes in CEM can be explainedby the following compound growthequation:

CEMt=A(CEMoa)ert,

where CEMt is the value of CEM inyear t; CEM0 is the value of GEM in1966 (the initial year); and t is a timetrend which takes the values 1,2,. . .,11 for the years 1967, 1968, . . ., 1977.The coefficients ( 4, a, and r) are esti-mated from an ordinary-least squaresregression on the logarithmic (In) formof the above equation:

(1)lnCEMt=lnA+a lnCEM0+rt

Equation (1) explains 97 percent ofthe variation in CEM (the equation H2

is 0.97). The ^-ratios indicate that thecoefficients r and a are significantlydifferent from zero at the 1-percentlevel; in the equation, r=0.10—i.e.,CEM grows at 10 percent per year—anda=1.0. LnA is not significantly differentfrom zero; therefore, the equation inter-cept (the value of lnCEMt when t=0)is IUCEMQ, which is correct.

To show that the good fit of thisequation reflects trends in CEM withineach country, equation (1) is appliedseparately to data for each country.3

The results, shown in the accompanyingtabulation, indicate that trend is statis-tically significant in 10 of the 11countries examined:

CanadaBelgiumDenmarkFranceGermanyItalyNetherlandsSwedenSwitzerlandUnited Kingdom.Japan

0.108.110.128.134.126.112.107.105

(*).107.167

0.88.74.59.90.83'.89

. .87.65(*).89.84

where In A is the regression intercept,a is the slope of lnCEM0, and r is thegrowth rate.

•Not significant.NOTE.—t-ratios are significant at the 1-percent level, unless

otherwise noted.

The results in this part of the articleindicate that the year-to-year fluctua-tions in CEM discussed in the first partare around a fairly steady long-termtrend. Spending grows fairly steadilybecause it meets requirements—suchas for plant modernization and replace-ment and for additions to outputcapacity—that also are growing fairlysteadily; in most countries, the cost ofmeeting such requirements has beenrising fairly steadily. These are the rea-sons why so much of CEM is explainedby a compound growth equation. Inwhat follows, the relation of CEM tothree variables—OM, EE, and WP—isexplored: The rationale for these vari-ables, the method of analysis, and itsresults are explained in turn.

Effect on CEM of OM, ER, and WP

Rationale jor the variables.—Increasesin OM usually indicate improvementin market demand for products of host

3. With time as the only explanatory variable, the 12-yearperiod provides sufficient data points to assess its effects onCEM.



country businesses, including affiliates;improvements in market demand even-tually induce increases in CEM, asaffiliates initiate new capital projectsor resume projects previously postponed.Similarly, declines in OM lead to post-ponement or cancellation of capitalprojects. These considerations suggestthat CEM may be positively correlatedwith OM.

ER—defined in terms of U.S. dollarsper unit of foreign currency—indicateschanges in the cost of a host country'scurrency relative to the U.S. dollar.Because capital projects usually involvesome costs contracted in host-countrycurrency, an increase in a country's ERusually would be associated with an in-crease in the cost, measured in dollars,of the project. The increase in cost canaffect the capital budget of the U.S.parent company, which usually sup-plies, through capital transfers, someof the funds for its affiliates' capitalprojects. The increase in cost, there-fore, could inhibit expenditures for newcapital projects in the appreciatingcountry, if the increase requires furthercapital transfers from the U.S. com-pany. Also, an increase in ER tends toreduce competitiveness of a country'sproducts, relative to those of othercountries. For both reasons, an increasein a country's ER may result in a de-cline in CEM in that country; some ofthe decline may reflect a shift of capitalprojects to other, more competitive,countries. These considerations suggestthat CEM may be negatively corre-lated with ER.

WP—defined in terms of U.S. dollarsbecause CEM is so defined—is an indi-cator of changes in prices. (To obtainindexes on a U.S. dollar basis, theUnited Nations wholesale price index

for a country is multiplied by the ERindex for that country.) There are rea-sons for either a positive or a negativecorrelation of CEM and WP. To theextent that a country experiences amore rapid inflation than do othercountries, the competitiveness of itsproducts may be reduced, inhibitingCEM; if the resulting reduction in thevolume of CEM is not offset by the in-crease in the cost of capital projects,CEM and WP will be negatively corre-lated. However, if the inhibiting effectsof inflation on CEM are small, current-dollar expenditures will tend to increasebecause the cost of capital projects isincreasing, and CEM and WP will bepositively correlated.

Method of analysis and results.—Therelationship of CEM to OM, ER, andWP is examined with logarithmic re-gressions. After experimentation withalternative lags, the explanatory vari-ables were lagged one year with respectto CEM, reflecting a delay in the re-sponse of capital expenditures tochanges in these variables.

OM, WP, and ER are intercorrelated;i.e., the three variables tend to becollinear. Although collinearity does notbias the estimates of the coefficientsobtained from an ordinary-least-squaresregression, it does make it difficult toassess the statistical significance ofthose estimates.

Problems of collinearity cannot befully resolved by available statisticalmethods. However, stepwise regressionresults are useful in appraising the im-pact of collinearity (see technical note).The stepwise regression is applied in away that removes from OM its commonvariation with WP and ER, and assignsthat variation to WP and ER; there-fore, stepwise regression results tend to

understate the significance of OM andoverstate the significance of WP andER (coefficient estimates are, in prin-ciple, not affected).

Results of an ordinary least-squaresregression (equation (2)) and of a step-wise regression (equation (3)) are givenin table 7. Comparison of results of thetwo equations suggests that collinearityis not a major problem in equation (2).OM is significant at the 1-percent level,and ER at the 5-percent level in bothequations; and WP is significant at the5-percent level in equation (2), and the1-percent level in equation (3).

Because collinearity is not a majorproblem, the ordinary least squaresregression results—the preferredmethod—are used in the followinganalysis. The equation is of the follow-ing form :

lnOEMt=lnA+a

+ b lnERt-i

where the coefficients estimated areinA, a, b, c, and the 10 values of hJf-hj is the coefficient of Dh a countrydummy variable (see technical note).

The elasticity of a dependent variablewith respect to changes in an explana-tory variable—i.e., the percent changein the dependent variable for eachpercent change in an independentvariable—is measured by the coefficientof that explanatory variable. For exam-ple, the regression coefficient of OMt-\which is about 2.2, indicates that a2.2-percent increase in CEM is asso-ciated with a 1-percent increase inOM. This (elastic) response of CEMto OMt_i indicates a strong tendency tocurtail expenditures in periods whenmarket demand has been unfavorable,and to accelerate expenditures aftermarket demand improves.

Table 7.—Logarithmic Regressions of CEM on OM, ER, and WP, Using Pooled Data for Eleven Countries and for the Years 1966-77[Variables are Ins of millions of dollars or Ins of indices, 1976=100]

Equation No.

(2)

(3)

LnOMt-i

2.21

2.23

LnERt-i

2 - 0 . 5 2

2 - 0 . 4 1

LnWP t-i

2 0.21

0.22

Constant

-10.23

-9.98

Country dummy variables 1

Canada

5.01

5.16

Belgium

3.45

3.38

France

4.01

4.02

Ger-many

4.59

4.65

Italy

3.62

3.71

Netherlands

3.41

3.41

Sweden

2.01

2.20

Switzerland

1.02

1.22

UnitedKingdom

4.95

4.96

Japan

3.11

3.15

1 The country dummy for Denmark is the value of the intercept (the coefficient of theconstant term).

2 Significant at the 5-percent level.NOTE.—CEM=Capital expenditures of manufacturing affiliates.

OM=Output in manufacturing.

ER=Index of the value in U.S. dollars of a unit of host-country currency.WP=Index of wholesale prices in manufacturing.

For each equation: All explanatory variables are lagged one year. The number of observa-tions is 121; the R2 is 0.98; and the t-ratios for the variables shown are significant at the 1-per-cent level, unless noted otherwise.



The coefficient of W P M is about 0.2.The positive elasticity indicates thatCEM increases with inflation. However,the elasticity is less than 1.0, indicatingthat CEM increases less than propor-tionately with respect to WP; i.e., thevolume of (real) capital expendituresis curtailed by inflation.

The coefficient of ERt-x is about —0.5.The negative sign indicates that as a

host country's currency becomes moreexpensive relative to the dollar, affili-ates' capital expenditures decline.

In summary, the quantitative impactof WP and EB on CEM is, at accept-able confidence levels, small relativeto that of OM. This result suggests thatchanges in host-country demand haveby far the greatest impact on affiliatecapital spending decisions.

Technical NoteRevisions

For each year, five successive estimates are published. The estimates arebased on data from semiannual sample surveys taken each June and December.The first through fourth estimates are affiliates' spending projections (plans),and the fifth, actual expenditures. Table 8 shows dates of the surveys covering1977-79. Results of the June sample survey are usually published in the SeptemberSURVEY OF CURRENT BUSINESS. Results of the December sample survey are us-ually published in the following year's March SURVEY.

Revisions to the 1976 actual expenditure estimates are based on a BE A surveyof sources and applications of funds, which included data on such expenditures.

Changes in reporting requirementsTwo changes in reporting require-

ments became effective with the June1978 sample survey. First, the exemp-tion criteria were changed. Affiliatesare now exempt if their total assets,net sales, and after-tax net income (orlosses) are each less than $8 million;previously, affiliates with less than$50,000 of capital expenditures wereexempt. This change resulted in theexemption of more affiliates, but hada negligible effect on the sample databecause the newly exempted affiliatesare small.

Second, reporting for the sample isnow mandatory; previously, it wasvoluntary. As a result, a number ofaffiliates have been added to the sample.The effect on sample size is indicated intable 9, which shows 1977 expendituresas reported in June 1978. Line 1 showsexpenditures for affiliates reported onthe mandatory basis; line 2 shows ex-penditures added as a result of thechange to mandatory reporting; andline 3, calculated by subtracting line 2

from line 1, gives expenditures foraffiliates previously reported on thevoluntary basis. Affiliates in line 3 hadexpenditures of $15.8 billion in 1977,and accounted for about 57 percent ofthe universe estimate of $27.5 billionfor that year. Affiliates in line 2 hadexpenditures of $1.1 billion; the addi-tion of these affiliates increased samplecoverage to 61 percent.

Sample data are expanded to universeestimates by a conventional link-relativemethod. Affiliates not in the sample areincluded by assuming that their capitalexpenditures grow at the same rate as

those of affiliates in the sample. Theaddition of the new affiliates to thesample would change the universe esti-mate only if the new affiliates' growthrate differed from that of the previoussample, and if the new affiliates were asizable proportion of the new sample.Although new affiliates do have a highergrowth rate in 1978, they account forless than 7 percent of the new sample;therefore, the growth rates of the oldand the new samples are about thesame, and the increase in sample sizehad little impact on the size of theuniverse estimates in 1978. However,by increasing coverage in some country-industry cells, the expansion of thesample does result in improved reli-ability of the estimates.

Regression methodology

Pooling.—There are differences fromcountry to country in the level of CEMin the base year (1966). Regressions onpooled data must include explanatoryvariables which take such differencesinto account, so that the regressions willfit the data reasonably well. In equation(1), such differences are accounted forby CEM0, the set of base-year values ofCEM. In equations (2) and (3), suchdifferences are accounted for by a set ofcountry dummy variables.

A country dummy variable takes thevalue 1 for data points of that country,and zero otherwise. The regressioncoefficient of the dummy variable, plusthe regression intercept, give an esti-

Table 8.—Dates of Successive Semiannual Surveys of Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1977-79

[Date survey taken]

Year of actual orplanned expenditures

1979

1978

1977

First survey-

June 1978*—.

June 1977

June 1976

Planned expenditures

Second survey

Dec. 1978**..

Dec. 1977.

Dec. 1976

Third survey

June 1979**..

June 1978*.

June 1977

Fourth survey

Dec. 1979**

Dec. 1978**

Dec. 1977

Actual expenditures

Fifth survey

June 1980**.

June 1979**.

June 1978*.

*Most recent survey.**Future surveys.


October 1978 SUEVEY OF CUEEENT BUSINESS 53Table 9.—1977 Capital Expenditures Re-

ported by Majority-Owned ForeignAffiliates in June 1978


1. All affiliates in sample

2. Affiliates added to sample as a result ofchange to mandatory reporting

3. Affiliates in current mandatory samplewhich also reported in previous, volun-tary surveys

1977

16,922

1,117

15,805

mate of the base-year level of CEM forthat country.

Number of observations.—The equa-tions are fitted to 121 values of thedependent variable, CEMt, for 1967-77;the values for 1966 are for CEM0, anexplanatory variable in equation (1).

Stepwise regression.—Collinearityamong OM, EE, and WP is reduced bya stepwise regression procedure. OMfirst is regressed on WP and EE; the

part of OM not explained by thisregression (the regression residual) isu, which is not collinear with WP orEE. CEM then is regressed on u, WP,and EE; and, in the resulting equation,OM is substituted for u to give CEM interms of OM, WP, and EE. (For fur-ther explanation of this type of proce-dure, see Goldberger, A. S., EconometricTheory, Wiley, 1966, pp. 192-196.)

(Continued from page 10)

increases—of about 6 percent—were inline with car price increases.

Truck imports, like car imports, areconcentrated in the smallest size cate-gory; they are mostly small pickupsweighing less than 6,000 pounds. Onlytrucks imported by U.S. manufacturersare included in retail sales in the chart;these imports totaled 130,000 in 1978.An additional 180,000 imported trucks,almost all of Japanese manufacture,were sold during the 1978 model year,about the same number as in 1977.

Large price increases during the year,comparable to those on imported cars,held down import sales. Including im-ports of U.S. manufacturers, importsfrom Japan captured 8 percent of thelight truck market, down from 9 per-cent in 1977.

Sales of new medium trucks, whichinclude general delivery trucks andbuses, remained at very low levels; only146,000 were sold in the third quarterof 1978. The bulk of medium trucksare in the heaviest weight subcategory(19,501-26,000 pounds), which has been

losing sales to heavy trucks that havemore fuel-efficient diesel engines. Anincreasing use of diesel engines in thesemedium trucks may slow the sales shift.Sales of new buses, which compriseabout one-fifth of medium trucks, havebeen flat for the past 4 years.

Sales of new heavy trucks totaled arecord 210,000 in the third quarter of1978, up slightly from the second quar-ter. Sales of heavy trucks—mainly largesingle-units and diesel tractors de-signed to pull trailers—have more thandoubled since the 1975 recession low.



Summary National Income and Product Series, 1929-77Table A.—Gross National Product

[Billions of dollars]

Year

Current dollars

GNP PCE

Gross privatedomestic investment

TotalFixed

invest-ment

CBI

Netex-

ports

Govern-mentpur-

chases


GNP PCE

Gross privatedomestic investment

TotalFixed

invest-ment

CBI

Netex-

ports

Govern-mentpur-

chases

Final sales

Currentdollars

Con-stant(1972)

dollars

GNPimplicit

pricedeflator(Index

numbers,1972=100)

Year-to-year percent change

CurrentdollarGNP

Con-stantdollarGNP

GNPimplicit

pricedeflator

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

197519761977

103.4

90.776.158.355.865.3

72.582.790.785.090.8

100.0124.9158.3192.0210.5

212.3209.6232.8259.1258.0

286.2330.2347.2366.1366.3

399.3420.7442.8448.9486.5

506.0523.3563.8594.7635.7

688.1753.0796.3868.5935.5

982.41,063.41,171.11,306.61,412.9

1,528. 81, 700.11,887. 2

77.3

69.960.548.645.851.3

55.862.066.664.067.0

71.080.888.699.4

108.2

119.5143.8161.7174.7178.1

192.0207.1217.1229.7235.8

253.7266.0280.4289.5310.8

324.9335.0355.2374.6400.4

430.2464.8490.4535.9579.7

618.8668.2733.0809.9889.6

979.11,090.21,206.5

16.2

10.25.61.01.43.3

6.48.5

11.86.59.3

13.117.99.95.87.2

10.630.734.045.935.3

53.859.252.153.352.7

68.471.069.261.977.6

76.474.385.290.296.6

112.0124.5120.8131.5146.2

140.8160.0188.3220.0214.6

190.9243.0297.8

14.5

10.66.83.43.04.1

5.37.29.27.48.8

10.913.48.16.48.1

11.724.334.441.138.4

47.048.949.052.954.3

62.466.367.963.472.3

72.772.178.784.290.8

102.5110.2110.7123.8136.8

137.0153.6178.8202.1205.7

201.6232.8282.3

1.7

- . 4- 1 . 1-2 .5-1 .6- . 7

1.11.32.5

- . 9.4

2.24.51.8

- . 6- 1 . 0

- 1 . 06.4

4 7- 3 . 1

6.810.33.1.4

-1 .5

6.04.71.3

-1 .55.2

3.82.26.56.05.8

9.514.310.17.79.4

6.49.4

17.98.9

-10.710.215.6

1.1

1.0.5.4.4

.1

.1

.31.31.1

1.71.3.0

- 2 . 0-1 .8

- . 67.6

11.66.56.2

1.93.82.4.8

2.0

2.24.36.12.5

4.45.85.46.3

7.65.14.92.31.8

3.91.6

- 3 . 37.16.0

20.47.4

-11.1

8.8

9.59.58.38.2

10.0

10.212.212.013.213.5

14.224.959.888.997.0

82.827.525.532.038.4

38.560.175.682.575.8

75.079.487.195.097.6

100.3108.2118.0123.7129.8

138.4158.7180.2198.7207.9

218.9233.7253.1269.5302.7

338.4359.5394.0

314.6

285.2263.3227.1222.1239.0

260.5295.4309.2296.4318.8

343.3398.5460.3530.6568.6

560.0476.9468.3487.7490.7

533.5576.5598.5621.8613.7

654.8668.8680.9679.5720.4

736.8755.3799.1830.7874.4

925.9981.0

1,007.71,051.81,078.8

1,075.31,107.51,171.11,235.01,217.8

1,202.31,271.01,332.7

215.6

200.0192.1174.1170.7177.2

188.1206.8214.3209.2220.3

230.4244.1241.7248.7255.7

271.4301.4306.2312.8320.0

338.1342.3350.9364.2370.9

395.1406.3414.7419.0441.5

453.0462.2482.9501.4528.7

558.1586.1603.2633.4655.4

668.9691.9733.0767.7760.7

774.6819.4857.7

55.9

23.77.98.4

13.1

24.032.239.824.033.6

44.655.829.618.119.8

27.871.070.182.365.6

93.794.183.285.683.4

104.1102.997.287.7

107.4

105.4103.6117.4124.5132.1

150.1161.3152.7159.5168.0

154.7166.8188.3207.2183.6

142.6173.4196.3

51.3

39.126.715.113.316.4

21.128.433.526.632.0

38.443.824.418.022.1

31.458.870.476.870.0

83.280.478.984.185.6

96.397.195.789.6

101.0

101.0100.7109.3116.8124.8

138.8144.6140.7150.8157.5

150.4160.2178.8190.7175.6

152.4166.8187.4

4.6

- . 5-3 .0-7 .2-4 .9- 3 . 3

2.93.86.3

-2 .61.6

6.212.05.2.1

- 2 . 3

-3 .612.2- . 25.5

-4 .4

10.613.74.31.5

-2 .2

7.75.81.5

-1 .86.5

4.42.98.17.87.3

11.316.712.08.7

10.6

4.36.69.4

16.58.0

-9 .86.78.9

2.2

2.01.3.9.2.5

-1 .1-1 .3—. 72.62.0

3.0.8

-2 .5- 7 . 3-7 .2

- 4 . 511.616.68.58.8

4.07.44.92.04.5

4.77.38.93.5

5.56.75.87.3

10.9

8.24.33.5

- . 4- 1 . 3

1.4- . 6

-3 .37.6

15.9

22.615.49.5

40.9

44.746.244.242.848.2

49.557.855.760.662.9

65.297.7

191.5271.2300.3

265.393.075.484.196.2

97.7132.7159.5170.0154.9

150.9152.4160.1169.3170.7

172.9182.8193.1197.6202.7

209.6229.3248.3259.2256.7

250.2249.4253.1252.5257.7

262.6262.8269.2

101.7

91.177.260.857.466.0

71.481.588.285.990.4

97.8120.4156.5192.6211.5

213.4203.2233.2254.4261.1

279.4319.9344.0365.7367.8

393.3416.0441.4450.4481.2

502.2521.1557.3588.8629.9

678.6738.7786.2860.8926.2

978.61,057.11,161. 71,288.61,404.0

1,539.61,689.91,871.6

310.0

285.7266.3234.2226.9242.3

257.5291.6302.9299.0317.2

337.1386.4455.1530.5570.9

563.6464.7468.5482.2495.1

522.9562.8594.2620.3615.8

647.1633.0679.4681.3714.0

732.4752.4791.0823.0867.1

914.6964.3995.7

1,043.11,068.2

1,071.01,100.91.161.71,218.51,209.9

1,212.11,264.41.323.8

32.87

31.8028.8925.6725.1427.32

27.8328.0129.3428.6628.48

29.1331.3434.3936.1837.03

37.9243.9549.7053.1352.59

53.6457.2758.0058.8859.69

62.9065.0266.0667.52

68.6769.2870.5571.5972.71

74.3276.7679.0282.5786.72

91.3696.02

100.00105.80116.02

127.15133. 76141.61

6.6

-12.3-16.1-23.4-4 .217.0

11.014.19.7

-6 .46.9

10.124.926.821.39.6

- 1 . 311.111.3- . 4

10.915.45.15.5.0

9.05.45.21.48.4

4.03.47.75.56.9

8.29.45.89.17.7

5.08.2

10.111.68.1

8.211.211.0

6.6

- 9 . 3-7 .7

-13.8-2 .2

7.6

9.013.44.7

-4 .27.6

7.716.115.515.37.1

-1 .5-14.8- 1 . 8

4.1

8.78.13.83.9

- 1 . 3

6.72.11.8

- . 26.0

2.32.55.84.05.3

5.95.92.74.42.6

- . 33.05.75.5

-1 .4

-1 .35.74.9

0.0

-3 .3- 9 . 1

-11.2- 2 . 1

8.7

1.9.6

4.7-2 .3- . 7

2.37.69.75.22.3

2.415.913.16.9

-1 .0

2.06.81.31.51.4

2.23.23.41.62.2

1.7.9

1.81.51.6

2.23.32.94.55.0

5.45.14.15.89.7

9.65.25.9

NOTE.—PCE = Personal consumption expenditures; CBI=Change in business inventories.



Table B.^National Income and Disposition of Personal Income

[Billions of dollars]

Year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

197519761977 . . . .

Na-tionalincome

84.8

73.858.642.439.948.7

56.564.372.366.071.3

79.7102.6135.7169.1181.9

180.6178.3194.6219.0212.7

236.2272.3285.8299.7299.1

328.0346.9362.3364.0397.1

412.0424.2457.4482.8519.2

566.0622.2655.8714.4767.9

798.4858.1951.9

1,064. 61,136. 0

1,215. 01,359.21,515. 3

Com-pensa-tion of

em-ployees

51.1

46.839.731.129.534.3

37.342.947.945.048.1

52.164.885.3

109.5121.2

123.1118.1129.2141.4141.3

154.8181.0195.7209.6208.4

224.9243.5256.5258.2279.6

294.9303.6325.1342.9368.0

396.5439.3471.9519.8571.4

609.2650.3715.1799.2875.8

931.11,036.81,153.4

Proprietors' income withIVA and CCAdj.

Total

14.9

11.79.15.65.87.5

10.710.913.111.211.7

12.917.424.029.030.2

31.736.635.840.736.1

38.442.842.941.340.8

42.543.645.047.447.2

47.048.349.650.352.2

56.760.361.063.466.2

65.167.776.192.486.2

87.088.699.8

Farm

6.2

4.33.42.12.63.0

5.34.36.04.44.4

4.56.49.8

11.711.6

12.214.915.217.512.7

13.515.814.912.912.3

11.311.211.013.110.7

11.411.811.911.610.3

12.613.612.112.013.9

13.914.318.032.025.4

23.518.420.2

Non-farm

8.8

7.45.63.53.24.6

5.46.67.16.87.3

8.410.914.317.318.6

19.421.620.623.223.5

24.927.028.028.428.5

31.232.433.934.336.6

35.636.437.738.742.0

44.146.748.951.452.3

51.253.458.160.460.9

63.570.279.5

Rentalincome

of personswith

CCAdj.

4.9

4.43.62.92.21.7

1.81.81.92.42.6

2.73.14.04.44.5

4.65.55.35.76.1

7.17.78.8

10.011.0

11.311.612.212.913.2

13.814.315.015.716.1

17.118.219.418.618.1

18.620.121.521.621.4

22.422.522.5

Corporate profits with IVA and CCAdj.

Total

9.2

5.91.3

-1 .7- 1 . 7

1.0

2.64.95.63.85.3

8.714.119.323.523.6

19.016.622.229.126.9

33.738.135.435.534.6

44.642.942.137.548.2

46.646.954.959.667.0

77.182.579.385.881.4

67.977.292.199.183.6

95.9127.0144.2

Profitsbefore

tax

10.0

3.7- . 4

- 2 . 31.02.3

3.66.36.84.07.0

10.017.721.525.124.1

19.724.631.535.228.9

42.643.938.940.538.1

48.448.646.941.151.6

48.548.653.657.764.7

75.280.777.385.683.4

71.582.096.2

115.8126.9

120.4155.9173.9

Profits after tax

Total

8.6

2.9- . 9

- 2 . 7.4

1.6

2.64.95.32.95.6

7.210.110.111.111.2

9.015.520.222.718.7

24.721.319.520.220.5

26.426.625.522.128.0

25.825.829.631.536.7

44.347.144.946.243.8

37.044.354.667.174.5

70.691.7

102.1

Undis-trib-uted

2.8

-2 .6-4 .9-5 .2-1 .6- 1 . 0

- . 2.4.6

- . 21.8

3.25.75.96.66.5

4.49.9

13.915.711.5

15.912.811.011.511.4

16.115.514.010.815.8

13.012.515.216.019.4

25.227.624.724.221.2

14.121.330.039.343.6

38.753.858.4

IVA

0.5

3.32.41.0

- 2 . 1- . 6

- . 2- . 701.0

- . 7

- . 2- 2 . 5-1 .2- . 8- . 3

- . 6- 5 . 3-5 .9-2 .2

1.9

- 5 . 0-1 .2

1.0- 1 . 0

Q

-1 .7-2 .7- 1 . 5- . 3- . 5

.3

.1

.1- . 2- . 5

-1 .9—2.1-1 .7- 3 . 4- 5 . 5

- 5 . 1- 5 . 0-6 .6

-18.6-40.4

-12.4-14.5-14.8

C CAdj.

- 1 . 3

- 1 . 0- . 7- . 5- . 5- . 7

—.8- . 71.22 i

-l'.O

- 1 . 1- 1 . 1- 1 . 0- . 8- . 2

- . 1- 2 . 7- 3 . 4-3 .9-3 .8

- 4 . 0- 4 . 6- 4 . 5- 4 . 1-3 .2

- 2 . 1- 3 . 0- 3 . 3- 3 . 4-2 .9

- 2 . 3- 1 . 8

1.22.12.8

3.83.93.73.73.5

1.5.3

2.51.9

-2 .9

-12.0-14.4-14.9

Netinter-

est

4.7

4.95.04.64.14.1

4.13.83.73.63.6

3.33.33.12.72.4

2.21.62.12.12.2

2.32.73.03.44.3

4.85.26.58.08.8

9.811.212.814.315.9

18.521.924.326.830.8

37.542.847.052.369.0

78.684.395.4

Per-sonal

income

84.9

76.265.450.046.953.7

60.368.473.868.072.4

77.895.3

122.4150.7164.4

169.8177.3189.8208.5205.6

226.1253.7270.4286.1288.2

308.8330.9349.3359.3382.1

399.7415.0440.7463.1495.7

537.0584.9626.6685.2745.8

801.3859.1942.5

1,052.41,154.9

1,255.51,380. 91,529.0

Less:Personaltax andnontaxpay-

ments

2.6

2.51.81.41.41.6

1 92.22.92.82.4

2.63.35.9

17.818.9

20.818.721.421.018.5

20.628.934.035.532.5

35.439.742.442.146.0

50.452.156.860.358.6

64.974.582.197.1

115.4

115.3116.3141.2150.8170.3

168.8196.5226.0

Equals:DPI

82.3

73.763.548.645.552.1

58.466.270.965.169.9

75.292.0

116.5132.9145.5

149.0158.6168.4187.4187.1

205.5224.8236.4250.7255.7

273.4291.3306.9317.1336.1

349.4362.9383.9402.8437.0

472.2510.4544.5588.1630.4

685.9742.8801.3901.7984.6

1,086. 71,184.41,303. 0

Less:Per-sonal

outlays

79.1

71.161.449.346.552.0

56.462.867.564.967.8

72.081.889.4

100.1109.0

120.4145.2163.5176.9180.4

194.7210.0220.4233.7240.1

258.5271.6286.4295.4317.3

332.3342.7363.5384.0410.9

441.9477.4503.7550.1595.3

635.4685.5751.9831.3913.0

1,003. 01,116. 31,236.1

Equals:Per-sonal

saving

3.1

2.62.1

- . 7- 1 . 0

.1

2.03.43.4.3

2.1

3.310.227.032.736.5

28.513.44.9

10.66.7

10.814.816.017.015.6

14.919.720.621.718.8

17.120.220.418.826.1

30.333.040.938.135.1

50.657.349.470.371.7

83.668.066.9

Savingas per-

centageof DPI

3.8

3.53.3

-1 .4-2 .2

.2

3.45.24.7.4

3.0

4.411.123.224.625.1

19.28.52.95.73.6

5.36.66.86.86.1

5.46.86.76.85.6

4.95.65.34.76.0

6.46.57.56.55.6

7.47.76.27.87.3

7.75.75.1

DPI incon-stant(1972)

dollars

229.8

210.6201.7174.3169.7179.7

196.6220.7227.8212.8230.1

244.3278.1317.3332.2343.9

338.6332.4318.8335.5336.1

361.9371.6382.1397.5402.1

425.9444.9453.9459.0477.4

487.3500.6521.6539.2577.3

612.4643.6669.8695.2712.3

741.6769.0801.3854.7842.0

859.7890.1926.3

NOTE.—IVA=Inventory valuation adjustment; CC Adj. = Capital consumption adjustment; DPI=Disposal personal income.



Revised Manufacturing and Trade Sales,1977-78

Manufacturing and trade sales and inventory-sales ratios, which are regularly shown on pageS-5 of the SURVEY OF CURRENT BUSINESS, havebeen revised back to January 1977. These revisionsreflect updated seasonal adjustment factors forretail motor vehicle dealers' sales. The unadjusteddata have not been revised. Table 1 shows the revisedsales estimates and table 2, the inventory-salesratios.

Table 1.—Manufacturing and Trade Sales, Seasonally Adjusted(Millions of dollars)

1977:

Jan...Feb...Mar...Apr...May.June..

July..Aug..Sept..Oct._.Nov..Dec.

1978:

Jan...Feb...Mar...Apr...May_.June-

July..Aug p..

Manufac-turing andtrade, total

Retailtrade,total

Durablegoods

Nondurablegoods

211,652216,210221,612220,835221,559222,589

221,991224,404225,305228,450231,550237,017

230,294238,165242,627250,606251,869252,639

250,853257,007

55,67157,16957,85057,92958,05257,851

58,66959,17759,41260,72061,65061,813

59,98761,54862,64963,91764,29264,565

64,34365,505

18,82819,26019,72319,62019,56519,462

19,62220,14120,16120,83720,79520,674

19,91420,44520,89721,80721,82122,092

21,84422,755

36,84337,90938,12738,30938,48738,389

39,04739,03639,25139,88340,85541,139

40,07341,10341,75242,11042,47142,473

42,49942,750

Table 2.—Manufacturing and Trade Inventory-Sales Ratios,Seasonally Adjusted

(Millions of dollars)

1977:

Jan._.Feb.._Mar—Apr.. .May_.June__

July . .Aug.-Sept..Oct._.Nov. .Dec...

1978:

Jan . . .Feb...Mar...Apr..May-June-

July . .Aug P..

Manufac-turing andtrade, total

1.471.451.431.451.451.46

1.461.461.471.451.441.41

1.471.431.431.401.411.41

1.431.41

Retailtrade,total

1.411.381.391.401.411.43

1.421.431.431.411.401.41

1.461.421.421.411.421.42

1.441.43

Durablegoods

1.941.911.891.921.941.97

1.991.951.961.901.931.96

2.062.021.991.921.941.90

1.941.87

Nondurablegoods

1.141.111.121.131.141.16

1.141.161.161.151.131.13

1.161.131.141.141.151.17

1.181.19

p Preliminary.

U. S. GOVERNMENT PRINTING OFFICE : 1978 O - 275-875


CURRENT BUSINESS STATISTICS

JL HE STATISTICS here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEYOF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $6.80) provides a description of each series, referencesto sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1971 through 1974 (1964-74 for major quarterlyseries), annually, 1947-74; for selected series, monthly or quarterly, 1947-74 (where available). Series added or significantly revised after the 1975BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively. Unless otherwise noted, revised monthly datafor periods not shown herein corresponding to revised annual data are available upon request.

The sources of the data are given in the 1975 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, andare also listed alphabetically on pages 187-88. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Datafrom private sources are provided through the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated in footnotes below, datathrough 1974 and descriptive notes are as shown inthe 1975 edition of BUSINESS STATISTICS

1975 1976 1977

Annual total

1975

III IV

1976

I II III I V

1977

I II III IV

1978

I II

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 - . . .doMotor vehicles and parts. doFurniture and household equipment do

Nondurable goods, total? doClothing and shoes do_.Food _-_do---.Gasoline and oil _ do

Services, total 9 doHoushold operation doHousing _ doTransportation do

Gross private domestic investment, total....do

Fixed investment doNonresidential _ do

Structures. __ doProducers' durable equipment do

Residential.._ . . .doChange in business inventories do

Nonfarm do

Net exports of goods and services doExports doImports do

Govt. purchases of goods and services, total.doFederal do

National defense _ .doState and local do

By major type of product: tFinal sales, total do

Goods, total doDurable goods.. doNondurable goods ..do

Services .doStructures-_. _ do

C hange i n business inventories doDurable goods. doNondurable goods do

GNP in constant (1972) dollars f

Gross national product, total! bil.$__

Personal consumption expenditures, total, .do

Durable goods ..doNondurable goods do

Services do

Gross private domestic investment, total...do

Fixed investment doNonresidential doResidential do

Change in business inventories doNet exports of goods and services doGovt. purchases of goods and services, total.do

Federal doState and local do

1,528.8

979.1

132.653.458.0

408.970.1

209.639.5

437.564.5

150.232.6

190.9

201.6150.253.896.4

51.5-10.7-14.3

20.4147.3126.9

338.4123.183.7

215.4

1,539. 6686.6259.0427.5697.6144.7

-10.7- 8 . 9- 1 . 8

1, 202.3

774.6

112.7306.6355.3

142.6

152.4113.638.8

- 9 . 8

22.6

262.696.5

166.1

1,700.1

1,090. 2

156. 669.763.9

442.675.7

225.842.8

491.072.8

166.437.9

243.0

232.8164.657.3

107.3

68.210.212.2

7.4'163.2

155.7

359.5129.986.8

229.6

760.3304.6455.7778.0161.9

10.25.34,9

1,271. 0

819.4

1,887.2

1,206.5

178.481.571.3

479.081.5

245.246.5

549.281.6184.644.2

297.8

282.3190.463.9

126.5

91.915.615.0

-11.1175.5186.6

394.0145.194.3

248.9

1,871. 6832.6341.3491.3862.8191.8

15.68.47.2

1,332.7

857.7

125.9 I 137.8320. 2 330.4373.2 389.5

173.4

166.8118.947.86.7

15.4

262.896.6

166.2

196.3

187.4129.857.78.9

9.5

269.2101.6167.6

1,564.0

994.0

136.355.958.7

415.071.5

212.440.0

442.765.8

151.532.7

206.8

202.3149.754.095.7

52.64.61.1

20.9147.0126.1

342.2123.684.2

218.7

1,559.4711.4269.9441.5706.1146.5

4.6- 3 . 5

8.0

1,220.0

779.7

115.2307.5357.0

153.7

151.5112.039.52.1

22.8

263.896.7

167.2

1,598.0

1,021.6

143.560.660.8

421.472.2

216.640.5

456.766.7

156.334.0

203.9

208.8151.554.796.8

57.3- 4 . 9- 9 . 0

20.9152.2131.2

351.5127.9<=86.2223.6

1,602.9718.6273.7444.9726.4153.0

- 4 . 9- 8 . 6

3.7

1,227.9

791.1

119.7309.5361.9

148.9

154.1111.842.3

- 5 . 2

22.2

265.797.3

168.4

1,649.7

1,053.8

152.267.761.9

430.373.8

219.441.4

471.369.3

160.236.0

231.5

220.1157.756.4

101.3

62.411.412.7

10.4154.4144.1

354.0127.185.9

226.9

1, 638.3741.9288.6453.4749.7158.1

11.4.1

11.3

1,255.5

806.3

124.8314.6366.9

168.5

161.0115.545.57.5

16.5

264.396.2

168.1

1,685.4

1,075.1

154.769.163.0

437.474.2

223.941.9

483.070.2

164.737.0

243.5

228.1162.257.6

104.6

65.915.418.8

9.7160.7150.9

357. 2127.885.6

229.4

1, 670.1758.0301.8456.2766.9160.5

15.46.58.9

1,268.0

814.0

125.2318.2370.6

174.7

164.6117.846.810.1

16.1

263.295.9

167.3

1,715.6

1,098.4

156.769.564.2

444.576.1

227.443.0

497.273.5

168.238.7

249.9

235.3168.157.3

110.8

67.314.515.2

6.9168.2161.3

360.4129.986.5

230.5

1, 701.0768.1312.4455.7787.1160.3

14.59.35.3

1,276. 5

820.9

125.3320.5375.1

177.1

167.8121.046.89.3

16.1

262.596.8

165.7

1,749.8

1,133.7

162.872.666.5

458.378.5

232.345.1

512.678.2

172.339.8

247.1

247.6170.557.9

112.6

77.1- . 62.2

2.8169.4166.6

366.3134.689.1

231.7

1,750.4772.9315.6457.3808.1168.7

- . 65.2

- 5 . 8

1,284.0

836.2

128.5327.7380.0

173.4

173.6121.452.3

2

13.1

261.397.5

163.8

1,806.8

1,167.7

173.281.368.0

465.978.5

237.546.1

528.680.2

177.340.8

272.5

262.2180.659.3

121.4

81.610.311.1

- 8 . 5170.9179.4

375.0138.391.9

236.7

1, 796.5800.2332.2468.0832.3174.3

10.36.14.2

1,306. 7

846.6

134.9327.1384.6

186.1

180.3126.853.55.8

11.2

262.898.7

164.1

1,867.0

1,188.6

175.681.269.9

473.679.3

244.546.2

539.478.0

182.143.5

295.6

278.6187.263.4

123.8

91.417.016.5

- 5 . 9178.1184.0

388.8142.993.7

245.9

1,850.0825.8339.1486.7850.0191.3

17.09.17.9

1,325.5

849.5

136.2327.2386.0

197.1

187.1129.158.010.0

11.0

267.9101.3166.6

1,916.8

1,214.5

177.479.572.0

479.781.4

246.446.0

557.583.7

186.945.0

309.7

287.8193.565.4

128.1

94.321.922.0

- 7 . 0180.8187.8

399.5146.894.4

252. 7

1,894.9844.7346.5498.2875.3196.8

21.911.910.0

1,343.9

858.0

136.9329.2391.8

201.7

189.5130.858.812.2

12.5

271.7102.9168.8

1,958.1

1,255.2

187.284.075.3

496.986.7

252.647.5

571.184.6

192.047.3

313.5

300.5200.367.4

132.8

100.213.110.4

-23 .2172.1195.2

412.5152.297.1

260.3

1,945.0859.6347.4512.2893.6204.9

13.16.36.8

1,354.5

876.6

143.0338.1395.6

200.3

192.8132.560.37.5

3.1

274.5103.6170.9

, 992.0

1,276.7

183.584.172.1

501.482.9

257.748.3

591.889.6

198.149.7

322.7

306.0205.668.5

137.1

100.316.716.9

- 2 4 . 1181.7205.8

416.7151.597.9

265.2

1,975.3861.8351.2510.6926.4203.8

16.714.81.9

1,354.2

873.5

137.8333.3402.4

205.7

193.4133.859.512.3

2.9

272.1101.2170.8

2,087.5

1,322.9

197.892.576.5

519.387.5

267.849.1

605.889.9

204.152.1

345.4

325.3220.176.6

143.5

105.320.122.1

- 5 . 5205.4210.9

424.7147.298.6

277.6

2,067.4* 912. 2«375. 8«* 536. 4

952.0223.4

20.110.89.3

1,382.6

886.3

145.8336.3404.2

213.1

200.4140.559.912.7

11.3

271.997.1

174.8

r Revised. p Preliminary. tRevised series. Estimates of national income and productand personal income have been revised back to 1973 (see p. 16 ff. of the July 1977 SURVEY andp. 24 ff. of the July 1978 SURVEY); revisions prior to May 1977 for personal income appear on

p. 36 of the July 1978 SURVEY.c Corrected.

9 Includes data for items not shown separately.

, 141.1

1, 354. 5

199.390.078.6

529.490.2

272.050.8

625.892.9

209.655.0

351.7

334.1225.479.5

145.9

108.817.618.6

- 6 . 5210.9217.3

441.3156.1100.2285.2

, 123. 4930.7381.4549.3977.6232.8

17.611.26.4

1, 394.3

893.7

144.6339.2409.8

210.8

200.1140.459.710.7

12.0

277.8101.9175.9

S-l275-875 O - 78 - SI


S-2 SUEVEY OF CURKENT BUSINESS October 1978


1975 1976 1977

Annual total

1975

IV

1976

I II III IV

1977

I II III IV

1978

I II H I , IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

NATIONAL INCOME AND PRODUCTf—Con.

Quarterly Data Seasonally Adjusted

Implicit price deflators:!Gross national product Index, 1972=100

Personal consumption expenditures doDurable goods _ _ doNondurable goods doServices... do

Gross private domestic investment:Fixed investment _ . doNonresidential doResidential- . . . _ do

Govt. purchases of goods and services doFederal _ . _ . do _State and local do

Quarterly Data Seasonally Adjusted at Annual Rates

National income, totalt bil. $..

Compensation of employees, total doWages and salaries, total do

Govt. and govt. enterprises doOther do

Supplements to wages and salaries do_ . .

Proprietors' income with inventory valuationand capital consumption adjustments,total bil. $

Farm _ do . .Nonfarm .. . . . do

Rental income of persons with capital consump-tion adjustment _ bil. $..

Corp. profits with inventory valuation and capi-tal consumption adjustments, total bil. $..

Corp. profits with invent, val. adj.:Domestic, total do

Financial doNonfinancial, total9 - ...do

M amifaptnrinc1 total 0 doDurable coods do

Transportation, communication, andelectric, gas, and sanitary serv bil. $..

Rest of the world do

Profits before tax, total doProfits tax liabilitv doProfits after tax... _ do

Dividends doUndistributed profits. do

Inventory valuation adjustment doCapital consumption adjustment doNet interest . do

DISPOSITION OF PERSONAL INCOMEf

Personal 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:All industries bil. $..

Manufacturing doDurable goods industries^. doNondurable goods industries!! do

Nonmanufacturing doMining doRailroad ..doAir transportation doOther transportation do

Public utilities doElectric doGas and other _ do

Communication doCommercial and other do

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

Manufacturing doDurable goods industries^ doNondurable goods industries!! do

Nonmanufacturing doMining doRailroad doAir transportation doOther transportation do

Public utilities doElectric doGas and other . do

Communication doCommercial and other.. ._ .do

127.15126.4117.7133.4123.2

132.3132.2132.8

128.9127.5129.7

1,215.0

931.1805.9175.4630.4125.2

87.023.563.5

22.4

95.9

101.813 088.948 318.3

9.26.1

120.449.870.631.938.7

-12.4-12.078.6

1,255.5168.8

1,086.71,003.0

83.6

112.7847.9521.8426.11

64.823.792.551.843.18

20.1417.003.14

12 7420.60

133. 76133.1124.4138.2131.6

139.6138.4142.5

136.8134.4138.1

1,359.2

1,036.8890.1187.6702.5146.7

88.618.470.2

22.5

127.0

133.217 5

115.665 628.1

13.78.2

155.964.391.737.953.8

-14.5-14.484.3

1,380.9196.5

1,184.41,116. 3

68.0

120.4952.4823.6828.81

68.014.002.521.303.63

22.2818.803.47

13 3020.99

141. 61140.7129.5145.0141.0

150.6146.7159.4

146.3142.7148.5

1,515.3

1,153. 4983.6200.8782.9169.8

99.820.279.5

22.5

144.2

149.520 9

128.674 735.1

16.19.6

173.971.8

102.143.758.4

-14.8-14.995.4

1, 529. 0226.0

1,303.01,236.1

66.9

135.8060.1627.7732.39

75.644.502.801.622.51

25.8021.594.41

15.4522.97

130.14129.1119.9136.2126.2

135.5135.5135.6

132.3131.4132.8

1,271.8

967.8836.1181.3654.8131.7

91.225.166.1

22.5

110.3

118.713 6

105.159 323.2

12.75.9

137.256.980.332.647. 8

-12.5-14.480.0

1,305. 4179.6

1,125.81,046.0

79.8

30.7413.305.997.30

17.44.97.62.43.93

5.704.85

.853.265.52

111.8046.8221.0725.75

64.983.822.391.653.56

20.9117.923.00

12 2220.44

131. 40130.7122.0136.8128.4

136. 7136.6137.2

134.0132.1135.0

1,319.8

1,001.7861.7183.7678.0140.0

88.620.967.7

22.5

126.8

132.315.8

116.467 027.4

12.48.9

152.663.689.034.554.5

-11.4-14.480.1

1,336. 9184.4

1,152.51,078.9

73.6

25.8710.964.786.18

14.91.92.49.26.72

4.794.18

.622.924.82

114.7249.2121.6327.58

65.513.832.081.183.29

21.9118.563.36

12 5420.68

132. 92132.1123.6137.4130.3

138.5137.7140.7

135.7133.3137.1

1,347.9

1,026.0881.5186.1695.4144.6

88.819.669.3

22.4

128.6

135.417.0

118.467 529.7

14.37.6

158.766.392.437.255. 2

-15.7-14.482.0

1,363. 2192.6

1,170.61,100.7

69.9

29.7012.665.617.05

17.04.99.68.42

1.02

5.504.74

.763.215.21

118.1250.6422.5428.09

67.483.832.641.444.16

21.8518.823.03

12 6220.94

134. 39133.8125.0138.7132.5

140.3138.9143.8

137.3134.2139.1

1,372.1

1,046.1897.3188.1709.2148.8

87.416.970.5

22.4

130.0

136.318.3

118.065 928.5

14.98.2

157.864.793.138.454.7

-13.3-14.586.2

1,392.8200.0

1,192.81,124. 8

68.1

30.4113.486.027.46

16.931.04

.64

.26

.95

5.524.54

.983.335.19

122.5554.7824.5930.20

67.764.212.691.123.44

21.6718.223.45

13 6420.99

136. 28135.6126.8139.9134.9

142.6140.5147.6

140.2138.0141.5

1,397.0

1,073.3919.9192.6727.2153.4

89.516.373.2

22.8

122.5

128.719.1

109.761.926.9

13.38.2

154.662.492.241.4

-17.6-14.5

88.9

1,430.5209.0

1,221. 51,160.9

60.7

34.5215.387.278.12

19.141.05.70.35.94

6.465.341.123.845.78

125. 2254.4425.5028.93

70.784.132.631.413.49

23.4619.493.96

! 14.3021.36

138. 27137.9128.4142.4137.4

145.4142.5152.3

142.7140.1144.3

1,447.5

1,107. 9946.4195.2751.2161.5

95.619.476.1

22.5

129.9

134.819.7

115.166.429.9

15.49.7

164.868.396.541.555.0

-20.3-14.691.7

1, 470. 7222.7

1,248.01,195.8

52.2

29.2012.525.806.72

16.681.02.59.33.61

5.554.78

.773.305.27

130.1656.4326.3030.13

73.744.242.711.622.96

25.3521.194.16

14.1922.67

140. 86139.9128.9144.7139.7

148.9145.0157.6

145.1141.1147.6

1,499. 3

1,140.5973.4198.1775.3167.1

98.920.078.9

22.4

143.7

148.119.9

128.177.437.2

14.510.4

175.172.3

102.842.7

-16.6-14.8

93.7

1, 508. 6223.3

1,285.31,217.8

67.5

33.7314.846.798.06

18.881.16

.67

.43

.76

6.375.341.033.865.64

134.2459.4627.2632.19

74.784.492.571.432.96

25.2921.144.16

15.3222.73

142. 63141.6129.5145.7142.3

151.9147.9160.6

147.1142.7149.7

1,537.6

1,165. 8993.6201.7791.9172.2

97.216.580.8

22.4

154.8

159.521.9

137.674.734.2

17.510.3

177.572.8

104.844.1

- 7 . 7-15.0

97.3

1, 543. 7224.6

1,319.11, 244. 8

74.3

34.8215.607.178.43

19.211.17

.78

.39

.50

6.615.411.204.035.73

140.3863.0229.2333.79

77.364.743.201.691.96

26.2221.904.32

16.4023.14

144.56143.2130.9147.0144.4

155.9151.2166.1

150.3146.9152.3

1,576.9

1,199.71,021.2

208.1813.1178.4

107.325.182.3

22.7

148.2

155.621.9

133.780.239.1

17.17.9

178.373.9

104.446.3CO I

-14.8-15.3

99.0

1, 593. 0233.3

1,359.61,285.9

73.7

38.0617.198.009.18

20.871.15

.76

.46

.63

7.286.061.214.266.33

138.1161.4128.1933.22

76.704.502.801.762.32

26.2322.054.18

15.8223.27

147.10146.2133.1150.4147.1

158.2153.6168.6

153.2149.6155.2

1,603.1

1,241. 0,050.8211.4839.3190.2

105.021.983.1

22.8

132.6

139.222.7

116.669.832.8

17.39.4

172.170.0

102.147.0

-23.5-16.1101.7

1,628.9237.3

1,391.6L, 309. 2 '

82.4

32.3513.676.367.31

18.681.07

.71

.52

.51

6.155.27

. 883.975.76

144.2561.5728.7232.86

82.684.453.352.672.44

27.9223.154.78

17.0724.76

150.98149.3135.7154.4149.9

162.2156.7175.7

156.2151.5158.8

1,688.1

1,287.81,090.2

213.9876.3197.6

110.124.086.1

22.2

163.4

168.924.3

144.687.846.1

19.311.7

205.585.0

120.548.172 4

-24.9—17.2104.6

1,682.4249.1

1,433.31,357.0

76.3

37.8916.767.798.97

21.131.22

.83

.60

.60

7.146.011.134.566.18

150.7667.2031.4035.80

83.564.813.092.082.23

28.4623.83

4.6218.1824.71

153. 56151.6137.8156.1152.7

167.0160.5182.2

158.9153.3162.1

1,314. 7,111.2216.9894.3203.5

113.223.586.1

24.4

50.1

-20 .9- 1 9 . 3107.0

1,727.2262.5

1,464.7L, 390. 2

74.4

137.6017.137.949.18

21.481.20

.90

.73

.59

7.326.141.18

210. 74

155.1368.6632.1136.54

86.474.803.642.972.37

29.2625.04

4.22

2 42. 63

143.6620.459.56

10.89

23.201.28

.82

.56

.62

8.357.131.23

2 11.57

158.9873.6233.8939.72

85.365.073.052.082.05

30.2225.94

4.28

2 42.21

rRevised. J» Preliminary. * Estimates (corrected for systematic biases) for July-Sept. 1978 and Oct.-Dec. 1978 based on expected capital expenditures of business. Expectedexpenditures for the year 1978 appear on p. 23 of the Sept. 1978 SURVEY. * Includes com-munication. fSee corresponding note on p. S-l. 9 Includes data for items not shownseparately. ©Personal outlays comprise personal consumption expenditures, interest paid

by consumers to business, and personal transfer payments to foreigners (net).§ Personal saving is excess of disposable income over personal outlays.lIData for individual durable and nondurable goods industries components appear in the

Mar., June, Sept., and Dec. issues of the SURVEY.


October 1978 SUKVEY OF CURRENT BUSINESS S-3


1975 1976 1977

Annual total

1975

III I V

1976

I II I I I IV

1977

I II III I V

1978 v

I II III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

U.S. INTERNATIONAL TRANSACTIONS

Quarterly Data Are Seasonally Adjusted(Credits+; deb i t s - )

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

Merchandise, adjusted, excl. military doTransfers under U.S. military agency sales con-

tracts . . .mil. $..Receipts of income on U.S. assets abroad.-.doOther services do

Imports of goods and services doMerchandise, adjusted, excl. military. doDirect defense expenditures doPayments of income on foreign assets in the

U.S. . . . . .mil. $..Other services .do

Unilateral transfers (excl. military grants), netmil. $..

U.S. Government grants (excl. military)...doOther do . . . .

U.S. assets abroad, net . .do..U.S. official reserve, net. do..U.S. Gov't, other than official reserve, net.-.do.U.S. private, net. do.

Direct investment abroad do..

Foreign assets in the U.S., net do.Foreign official, net .do.Other foreign, net do.

Direct investment in the U.S .do.

Allocations of special drawing rights do..Statistical discrepancy do..

Memoranda:

Balance on merchandise trade. _ do..Balance on goods and services.. '. do..Balance on goods, services, and remittances..do..Balance on current account.. .do..

155,656107,088

3,91925,35919,290

-132,595-98,041-4,795

-12,564-17,194

-4,615-2,894-1,721

-39,444-607

-3,470

-14,244

15,5506,9078,6432,603

5,449

9,04723,06021,33918,445

171,274114,694

5,21329,24422,124

183,184120,555

7,07932,10023,451

-161,913 -193,741-124,047 -151,658-4,901 -5,745

-13,311-19,655

-5,022-3,145-1,878

-50,608-2,530-4,213-43,865-11,614

18,07318,8974,347

9,300

-9,3539,3617,4834,339

-14,593-21,746

-4,708-2,776-1,932

-34,650-231

-3,679-30,740-12,215

50,86937,12413,746

-954

-31,103-10,558-12,489-15,265

38,74426,562

9576,3604,865

40,76027,657

1,1646,8845,055

33,066 -34,13124,483-25,4311,096 -1,198

-3,212-4,275

-1,070-617-453

-5,108-342-745

-4,021-1,495

2,774-1,6484,422

-2,274

2,0795,6785,2254,608

-2,973-4,529

1,241-805-436

14,17989

-97713,2914,736

6,1772,8513,3261,369

2,614

2,2266,6296,1935,388

40,37527,001

1,0957,0275,252

-37,644-28,352-1,159

-3,405-4,728

-1,028-546-482

-12,365-773-762

-10,830-3,923

7,5903,8193,7711,472

3,073

-1,3512,7312,2491,703

42,44928,380

1,1897,3695,511

-39,268-29,963-1,219

-3,332-4,754

-1,040-592-448

-11,740-1,578-932

-9,230-2,047

7,9144,0173,8971,086

I

1,685

-1,5833,1812,7332,141

44,16029,602

1,4727,428

c 5,658

-41,933-32,418-1,235

-3,293-4,987

-1,908-1,440

-10,269-407

-1,340-8,522-3,081

8,9323,0705,862

1,018

-2,8162,2271,759319

44,29129,711

1,4577,4205,703

-43,068-33,314-1,288

-3,281-5,185

-1,047-567-480

-16,235228

-1,180-15,283-2,563

12,5347,1665,367790

3,525

-3,6031,223743176

44,75329,479

1,9127,7965,566

-46,375-36,496-1,344

-3,197-5,337

-1,126-636-490

-1,334-388-949

32,177

2,4905,451-2,962

880

1,592

-7,017-1,622-2,112-2,748

46,27730,630

1,7028,0885,857

-47,711-37,258-1,407

-3,601-5,445

-1,243-763-480

-12,0036

-795-11,214-3,729

14,0647,8846,180

616

-6,628-1,434-1,914-2,677

47,13431,012

1,9188,2205,984

-48,728-38,265-1,451

-3,610-5,401

-1,277-787-490

-6,615151

-1,098-5,668-3,113

14,2518,2466,0051,012

-4, 766

-7,253-1,594-2,084-2,871

45,02329,434

1,5477,9976,045

-50,928-39,639-1,542

-4,185-5,563

-1,064-591-473

-14,700

8-13,862-3,197

20,06515,5434,522450

1,604

-10,205-5,905-6,378

48,22130,664

1,8429,3816,334

-53,797-41,865-1,632

-4,503-5,796

-1,282-778-504

-15,036246

-896-14,386- 4,945

18,09515,7602,336812

3,798

-11,201-5,576-6,080-6,858

53,72035,067

2,2079,9176,529

-55,628-42,869-1,632

-5,297-5,830

-1,353-804-549

-4,966329

-1,151-4,144-4,166

229-4,9245,1521,347

-7,802-1,908-2,457-3,261


1976 1977 1977 1978

Annual Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept

GENERAL BUSINESS INDICATORS—Monthly Series

PERSONAL INCOME BY SOURCEf

Seasonally adjusted, at annual ratesifTotal personal income bil. $.

Wage and salary disbursements, total doCommodity-producing industries, total-do

Manufacturing doDistributive industries do~~~!

Service industries doGovt. and govt. enterprises do___.

Other labor income doProprietors' incomerA

Farm.. . . . d o . . . .Nonfarm do

Rental income of persons, with capital con-sumption adj ustment _ bil. $

Dividends do . . . .Personal interest income _ doTransfer payments do" . !Less personal contributions for social insur-

ance bil. $_.Total nonfarm income.. do

FARM INCOME AND MARKETING!

Cash receipts from farming, including Governmentpayments, total!- mil. $..

Farm marketings and CCC loans, total doCrops doLivestock and products, total 9 do

Dairy products._ .doMeat animals — .do".IPoultry and eggs do

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

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

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

Crops. doLivestock and products do

' Revised. * Preliminary. i Reported annual total; revisions are not reflected in themonthly data. * Less than $500,000(±). jSee corresponding note on p. S-l. Aln-cludes inventory valuation and capital consumption adjustments. iSeries revised begin-

890.1307.5237.5216.4

178.6187.677.0

18.470.2

22.537.9

126.3193.9

55.51,349.5

95,060

94,32647,93746,38911,42527,1887,192

220260190

121134111

1, 529.0

983.6343.7266.3239.1

200.1200.890.4

20.279.5

22.543.7

141.2208.8

61.01,494.4

'96,889

195,025i 47,572147,453i 11,782i 27,90917,207

222258195

124138113

1,540.7

991.5346.9268.4240.2

202.6201.892.2

15.080.8

22.444.1

143.7212.1

61.31,511. 2

7,651

7,6033,5904,013

9952,331

641

213234197

124138113

1,556.9

1,000.4350.4270.7243.1

203.9202.993.5

18.581.0

22.444.4

145.1213.3

61.61,523.9

8,392

8,3044,2364,068

9722,420

634

233276200

131153115

1,577.0

1,014.1354.8274.2245.6

206.9206.894.8

22.181.4

22.445.1

145.3214.2

62.41,540.1

11,054

10,9686,5154,453

9792,812

619

307424219

176243129

1,592.7

1, 022.3358.3277.1247.4

208.3208.496.1

24.682.2

22.645.5

145. 5216.5

62.61,553.1

10,573

10,4696,3564,113

9592,528

587

293414202

169238120

1,609.2

1, 027.3358.2280.5249.5

210.3209.297.3

28.583.2

22.948.3147.3217.2

62.81,565.5

9,883

8,8534,7254,1281,0072,480584

248308203

139172116

1,615.5

L, 038.3359.0281.9253.3

215.3210.698.7

25.682.0

23.046.8149.6218.1

66.51,574.7

9,162

8,8074,877

1,0082,336543

240297197

133172106

1,625.0

1,047.4364.4286.5256.2

215.1211.6100.0

21.583.0

22.847.0151.4219.0

67.01,588. 3

7,038

6,8732,8584,015944

2,492538

192181201

10198103

1,646.3

1,066.6374.3292.4261.3

219.0212.0101.3

18.684.4

22.647.2153.3220.3

68.01,612. 5

7,407

7,2562,4024,8541,0643,098652

205178226

10086111

1,669.4

1,083.9383.9294.3264.9

222.2213.0102.7

'22.085.5

22.347.4

154.8219.7

68.91,631.9

7,377

7,0792,4294,7501,0762,883610

199156232

75111

1,682.1

1,088.4386.2295.9266.1

222.0213.9104.0

24.886.1

22.148.0

156.5221.3

69.01,641.8

7,730

7,5802,6864,7941,1083,161

571

217181244

10286

113

1,695.7

1,098.4390.9298.1268.3

224.3214.9105.4

25.386.7

22.149.0

157.6220.8

69.61,654.7

8,403

3,5714,7681,0462,973

697

'235232235

110113109

'1 ,718.8

'1,108.2395.4301.6

• 269.8

• 227.2' 215.8106.7

'24.0'88.4

24.349.2159.1' 229.0

70.31,679.7

'7,342' 3,680' 3,6621,0581,764791

••206'240'180

'113124

'104

'1,727.3

1,110.1' 395.3' 301. 0' 270.4

' 227.8' 216. 7' 107.9

'23.3'90.1

24.450.3160.6230.5

'70.3'1,688.0

9,1004,3004,8001,2002,900700

254282233

127150110

1,735.6

1,114.4397.0303.0271.0

229.0217.5109.1

23.390.5

24.550.7

162.5231.1

70.51,696.2

ning 1973; revisions for periods prior to May 1976 are available from the U.S. Dept. of Agr.,Economic Research Service.

9 Includes data for items not shown separately. c Corrected.


S-4 SURVEY OF CURRENT BUSINESS October 1978


1976 1977

Annual

1977

Aug. Sept. Oct. Nov. Dec.

1978

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

GENERAL BUSINESS INDICATORS—Continued

INDUSTRIAL PRODUCTIONS

Federal Reserve Board Index of Quantity Output

Not Seasonally Adjusted

Total index 1967=100..

By market groupings:Products, total do

Final products .doConsumer goods do

Durable consumer goods doNondurable consumer goods ...do

Equipment . . .do.Intermediate products do.

Materials do.

By industry groupings:Mining and utilities... .do.

Manufacturing .do.Nondurable manufactures do.

Durable manufactures do.

Seasonally Adjusted

Total index 1967=100..By market groupings:

~ " s, totalProducts, total .do.Final products do.

Consumer goods .do.

Durable consumer goods do.Automotive products do.

Autos and utility vehicles do.Autos . . .do.Auto parts and allied goods do.

Home goods do.Appliances, air cond., and TV...do.Carpeting and furniture do_

Nondurable consumer goods do.Clothing.. do.Consumer staples .do.

Consumer foods and tobacco do.Nonfood staples.. do.

Equipment do.Business equipment do.

Industrial equipment 9 do.Building and mining equipment.do.Manufacturing equipment do.

Commercial, transit, farm eq. 9 do.Commercial equipment do.Transit equipment do.

Defense and space equipment do

Intermediate products do..Construction supplies .do..Business supplies ...do..

Materials do.Durable goods materials 9 do.

Durable consumer parts . . .do.Equipment parts do.

Nondurable goods materials 9 do.Textile, paper, and chemical do.

Energy materials.. do..

By industry groupings:Mining and utilities . . .do.

Mining do.Metal mining do.Coal. do

Oil and gas extraction 9 . . .do.Crude oil do.Natural gas do.

Stone and earth minerals. do.

Utilities.. do.Electric do.

Manufacturing do.Nondurable manufactures . do

Foods 9 do.Meat products do.Dairy products . . .do.Beverages.. do.

Tobacco products doTextile mill products do.Apparel products do.Paper and products . . .do.

Printing and publishing do..Chemicals and products.— do.

Basic chemicals .. .do..

Petroleum products .doRubber and plastics products doLeather and products do

129.8

129.3127.2136.2141.4134.1114.6137.2130.6

131.6

129.5140.9121.7

129.8

129.3127.2136.2

141.4154.8149.8132.0167.6

133.9114.6144.1

134.1124.0136.9130.7144.1

114.6136.3128.0177.7106.5

145.8173.5104.1

78.4

137.2132.6141.8

130.6126.8121.6133.9146.3151.1120.2

131.6114.2122.8117.2

112.092.2

109.5118.3

151.0167.6

129.5140.9132.3111.2113.8156.7

117.9136.4122.2133.0

120.6169.3158.6

133.1200.2

80.9

137.1

137.1134.9143.4153.1139.6123.2145.1136.9

136.2

137.1148.1129.5

137.1

137.1134.9143.4

153.1174.2169.2148.4186.8

141.3127.3152.2

139.6125.2143.6135.5152.9

123.2149.2138.5202.5113.9

161.6191.6117.8

79.6

145.1140.8149.5

136.9134.5132.0143.1153.5158.3122.4

136.2117.8105.4118.0

118.092.4

110.4124.9

156.5175.5

137.1148.1137.9114.0117.4167. 6

114.3137.1124.2137.4

124.7180.7165. 3

141.0232.2

75.3

138.2

139.5136.4145.9140.0148.2123.5150.9136.3

138.8

138.2154.1127.2

138.1

138.4136.3144.7

154.7177.2173.1150.9187.3

142.1129.6154.8

140.6126.4144.6137.9152.4

124.9151.1140.4203.9115.3

163.4193.0121.9

80.8

146.1141.7150. 6

137.6135.4135.2145.6155.1159.6121.4

134.4115.470.0

113.6

119.392.8

111.0125.0

155.7175.4

138.6149.4139.3116.1118.2168.0

117.0136.6124.1140.3

125.0182.6168.7

139.9237.4

74.5

142.4

145.1142.9152.9158.8150.5129.2153.2138.0

137.3

142.8156.2133.7

138.8136.8144.9

155.6177.0172.6151.6188.1

143.6129.4159.0

140.7128.3144.1137.1152.4

125.6152.1141.4204.5117.6

164.4193.7125.1

80.9

146.5143.2149.7

137.9135.7135.8146.8153.9159.0123.5

135.1118.071.4

133.0

119.694.7

105. 4126.7

154.1173.7

139.0149. 5138.3116.1118.9166.0

113. 5140.7127.7139.1

124.2181.3164.3

141.9239.5

74.0

142.7

144.3142.0152.4168.1146.2127.7152.7140.5

134.1

144.1155.8136.0

138.9

138.9136.5144.9

156.8179.4176.1154.3187.6

144.2128.6160.5

140.1128.0143.5135.2153.4

125.0152.6141.8205.7118.5

165.1195.4122.3

78.9

147.8144.9150.5

138.9137.1135.4147.6154.4160.0124.0

135.8119.680.0

141.4

119.494.4

108.5128.1

154.0173.6

139.4149.6137.3112.0118.9168.1

113.8142.4129.0137.9

125.7182.3163.9

141.4236.3

77.0

19.5

139.5136.9144.4157.6139.1126.6149.0139.4

132.9

140.3151.0132.9

139.3

139.5137.0145.2

155.2173.6167.6147.5188.7

145.0131.4160.0

141.2126.4145.3136.7155.1

125.8153.5142.6206.7118.7

165.9197.4118.9

79.3

148.4146.5150.1

139.0137.2136.5147.2155.4159.3123.0

135.5118.884.8

140.6

117.892.9

107.1127.2

154.2173.3

139.9150.1139.4114.8119.9168.4

117.5141.6125.1137.8

126. 2183.1164.3

140. 5238. 578.1

134.9

133.8131.1135.8144.4132.4124.6144.1136.5

135.0

134.8143.0129.2

139.7

140.3137.6145.8

155.8172.4165.5143.6190.4

146.6132.8161.5

141.8126.9145.9137.9155.2

126.2154.0143.0208.3118.2

166.9198.8121.1

79.5

150.4148.3152.6

138.8138.7135.7149.2155.3159.3118.7

133.9113.4104.374.6

118.493.4

109.6126.5

156.7175.9

140.5150.9140.4111.6119.2167.6

120. 6143.7125.8138.6

127.5183.0164.1

139.3240.177.3

134.8

133.5131.0136. T142.7134.3123.1142.5137.0

142.0

133.9142.8127.8

138.8

138.5134.9141.8

146.5157.5145.5127.4187.8

140.3116.1159.1

139.9118.3145.9136.5156.6

125.4152.6144.3211.1118.8

162.2198.5111.1

79.7

151.6149.2153.8

139.2138.2133.0148.7155.0160.7122.2

137.4115.0121.454.8

121.196.9

108.8130.0

162.3183.6

138.7149.8139.3109.2119.0174.5

113.4137.1118.6139.9

129.9184.4165.1

139.6

139.0136.6143.4155.7138.5127.1148.0140.6

139.9

139.6148.7133.2

139.2

139.6136.4143.8

151.2162.8153.9131.5185.3

144.6133.3160.2

140.8121.1146.3138.3155.8

126.2154. 2144.6214.9117.7

165.5200.9115.9

79.2

151.4148.6154.2

138.6137.0131.1146.6158.5162.8117.7

137.7114.4119.956.5

120.492.7

108.7129.1

163.5184.3

139.4150.6140.8117.9118.7176.0

117.7136.4121.1143.9

128.3183.7163.0

139.7 139. 0238.7 240.074.5 73.0

141.4

141.0138.6145.3162.4138.4129.3150.3142.1

136.3

142.1150.5136.3

140.9

141.6138.9145.9

157.5175.8171.0149.7188.5

147.2135.4159.3

141.3122.4146.4138.7155.3

129.1157.4146.9221.7118.3

169.4202.0126.1

81.9

151.4147.9155.0

139.9138.6133.1151.3160.5165.7117.5

138.2119.3127.678.4

123.394.0

109.9128.2

159.5178.8

141.4151.4141.1113.8119.7172.6

115.6135.1122.8144.9

129.1185.2167.3

140.1243.1

72.1

144.2

143.2140.7148.4169.7140.0130.1152.6146.1

137.0

145.1153.3139.5

143.2

143.0140.5147.5

161.8184.3182.7159.1188.2

149.2142.2158.9

141.8124.9146.6140.8153.3

130.8159.3147.8225.1119.0

172.6203.8133.7

82.9

152.1148.5155.6

143.7142.7136.8154.8162.0166.4123.9

140.9127.2122.3129.5

127.399.4

107.6128.9

156.0175.0

143.5153.2143.1116.1119.8181.1

121.0138.1126.1145.7

128. G185.5171.0

141.7249.176.0

144.2

142.1138.9145.2163.7137.7130.4153.8147.0

136.4

145.1153.5139.2

143.9

143.1140.5147.0

160.2180.0175.6151.6191.5

148.9138.3163.4

141.7125.4146.2139.9153.4

131.6160.2149.7226.0121.3

172.3204.2132.2

83.6

152.6150.4155.0

145.1143.9137.9155.8163.5167.9125.2

140.9126.7120.0131.7

126.395.4

112.2130.1

157.0177.1

144.3154.0142.8113.6118.9177.8

120.2138.5125.814G.6

128.2188.1174.9

143.4252. 775.7

148.8

148.2145.1152.1167.6146.0135. 6159.9149.7

142.4

149.7159.3143. 0

144.9

' 144. 0' 141. 1r 147. 0

'160.6' 179. 9

174.3149.8

r 193.9

r 149. 7' 139. 0

166.0

' 141. 6' 124. 8' 146. 3' 139. 0' 154. 8

133.0161.8

' 150. 9227.3122.8

' 174.4'206.9' 132. 3

84.6

r 154.7152.1157.0

146.4' 145. 4r 138. 7

157.4' 164.1'168.8r 127.5

142.5128.0121.1136.4

127.1' 97 .3113.2130.7

158.6180.1

• 145. 5• 154.9141.8111.4119.4

• 175. 7

122.7140.4126.8

• 148. 0

128.7• 191.1178.7

• 142.8255.5

75.1

141.7

141.6138.1142.4143.7141.9132.2154.7142.0

145.3

141. 2150.3

• 135.0

145.9

• 144.7141.9

• 147.5

' 160.6' 182.3• 176.7

152.7' 196.4

' 148.4r 133.8

r 168.1

r 142. 3125.1

' 147. 2' 140.1' 155.4r 134.4163.5

r 151.7r 229.0r 122.5

r 177. 1r 210. 1' 135. 0

85.4

r 155.5r 153. 6r 157. 5

r 147. 8r 148. 5r 142. 1r 161. 1r 162. 3r 168. 0r 127. 9

• 142. 7• 127.3118.2132.3

• 126.8'97 .0

• 131. 3

159.9

146.6155. 0

• 142.8115.2119.8

• 184. 0

121.8• 141.1• 124.6• 140.5

130.4• 192. 0' 174.6

• 143.9• 258. 9' 74 .5

146.6

146.6142.9149.5146.0150.8134.4160.3146.4

147.5

146.5159.9137.5

146.7

145.9143.0148.2

161.2181.8175.6151.1197.4

149.4135.0169.5

143.0

147.8140.8156.2

135.9165.2153.0229.4123.6

179.4212.0137.5

86.5

156.4155.3157.5

148.0149.4142.8162.2162.1166.3127.5

142.5126.2117.3126.1

126.497.7

130.9

160.6

151.6

153.1150.2157.4165.9154.1140.2164.1149.3

144.8

152.4163.0145.0

147.5

146.4143.4148.3

160.0178.4170.5144.4198.2

149.8133.6

143.5

148.3

~I56.~3~

136.7166.2153.7230.1124.0

180.8212.6140.5

87.2

157.3155.9

149.2150.6143.6163.4163.5167.9127.9

142.5125.4

115.0

126.9

161.4

147.4155.3143.9115 2120.6180.0

139.8

140.6

129.8191.8176. 9

144.6261.175.0

148.2156.0

145.2

129.7

145.7

r Revised. v Preliminary. i Es t imated. d" Monthly revisions back to 1967 will beshown later; effective Sept. 1977 SURVEY, indexes revised to reflect more up-to-date informa-tion. 9 Includes data for items not shown separately.

NOTE FOR P. S-5:O Revised back to Jan. 1975 to reflect corrections in reporting errors in the machinery in-

dustry, and corrections in classifications in the aircraft and machinery industries; revisionsprior to Apr. 1976 are available from the Bur. of the Census. Wash., D.C. 20233.


October 1978


1976 1977

Annual

\K1 O F (JUKIKEJN'JL1 J3U

1977


SlJNJi SIS S-51978

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

GENERAL BUSINESS INDICATORS—ContinuedINDUSTRIAL PRODUCTION\— Continued

Federal Reserve Board Index of QuantityOutput—Continued

Seasonally Adjusted—Continued

By industry groupings—ContinuedManufacturing—Continued

Durable manufactures . _ 1967=100Ordnance, pvt. and govt._ _ _ _do_Lumber and products __do_

Lumber do

Furniture and fixtures do _Clay, glass, and stone products _do__Primary metals __do__

Iron and steel doBasic iron and steel doSteel mill products. __ _ __ do

Nonferrous metals do

Fabricated metal products. __ doNonelectrical machinery doElectrical machinery do

Transportation equipment _ doMotor vehicles and parts _._ __ _ do__Aerospace and misc. trans, eq do

Instruments _ _ do

BUSINESS SALES §

Mfg. and trade sales (unadj.), total t© A mil. $_.

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

Manufacturing, total t© doDurable goods industries doNondurable goods industries do

Retail trade, totalA doDurable goods storesA doNondurable goods stores do

Merchant wholesalers total doDurable troods establishments doNondurable goods establishments do

BUSINESS INVENTORIES §

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

Mfg. and trade inventories, book value, end of yearor month (seas, adj.), total tA© mil. $__

Manufacturing, totalt© _ _ . doDurable goods industries.._ doNondurable goods industries __do __

Retail trade, totalA— _ doDurable goods stores.. . doNondurable goods stores do

Merchant wholesalers, totalA do_Durable goods establishments doNondurable goods establishments __do

BUSINESS INVENTORY-SALES RATIOSManufacturing and trade, totalt©A ratio..

Manufacturing, totalt© doDurable goods industries! do

Materials and supplies doWork in process _ doFinished goods _ do

Nondurable goods industries!© doMaterials and supplies doWork in process doFinished goods.. _ do

Retail trade, totalA doDurable goods storesA doNondurable goods stores do

Merchant wholesalers, totalA - - doDurable goods establishments ..do *Nondurable goods establishments do

MANUFACTURERS' SALES, INVENTORIES,AND ORDERS

Manufacturers' export sales: ODurable goods industries:

Unadjusted, total mil. $„Seasonallv adi total do

Shipments (not seas, adj.), totalt© do

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

Blast furnaces, steel mills. doNonferrous and other primary met do

121.772.7

125.1105.8

132.7137.1108.9104.9100.7108.9115.9

123.3135.0131.6

110.6140.782.2

148.2

2,409,117

22,409,117

1 185 716608 363577 353

2 642,507210,530431 977

2 580 894246 732334 1G2

308,601

309,238

169,886108,96860,918

78,04536,41741,628

61,30738,17723,130

1.48

1.662.07.6985

.52

1.23.5019

.53

c 1.39c l . 94«1.12

1.211.78.79

62,792

1,185,716

608,36330,63793,00546,68736.531

129.573.9

133.4110.6

140.9146.1110.2103.497.4

105.3122.4

130.9144.8141.9

121.1159.784.7

159.1

2,685,519

22,685,5192l,335,072699,193635 879

2 708,344238,815469 529

2642 104285,605356,498

333,821

334,785

179,714115,42464,290

87,07340,53446,539

67,99844,36823,630

1.44

1.581.93.65.78.49

1.19.48.19.53

<1.40cl.93cl.13

1.211.73.80

66,765

1,335,072

699,19335,274

103,34051,51940,877

131.375.5

131.8107.2

142.9148.8112.5110.6102.8114.1114.5

134.0145.2143.9

124.3164.486.5

158.3

226,776

'224,404

112 01958 64953 370

••59,177'20 14139 036

53 20824 39028 818

322,953

327,639

178,082113,91764,165

84,46239,30315,159

65,09542,39622,699

1.46

1.591.94.66.78.50

1.20.4819

.53

e1.43' 1.95« 1.16

1.221.74.79

4,9575 444

110,477

56,2533,2948,3734,2773,189

131.775.1

137.1111.2

145.6145.5109.0104.6101.3102.2117.0

133.6147.4144.6

125.5165.687.7

160.3

230,455

225,305

112,58659,28553,301

'59,412'20,16139 251

53,30724,15029,157

327,165

330,345

179,011114,46764,544

85,21539,55945,656

66,11942,89623,223

1.47

1.591.93.66.78.49

1.21.48.19.54

' 1 .43'1 .96« 1.16

1.241.78.80

«=5,5545,592

117,609

61,9893,1988,9564,4783,498

132.474.4

135.7115.7

146.6148.0113.5107.799.1

110.4123.6

133.8148.9144.2

124.3168.482.8

162.2

234,033

'228,450

114,09160,31653 775

'60,720'20,83539 883

53 63924,99728,642

332,444

330,832

179,301114,44864,853

85,32239,58945,733

66, 20943,01423,195

1.45

1.571.90.65.76.49

1.21.48.19.54

' 1 .41' 1.90'1 .15

1.231.72.81

5,8455 622

118,946

63,2873,1748,7554,3213,412

132.774.1

137.5103.7

146.0152.8111.2104.395.7

104.2123.5

135.8149.7146.0

122.0163.083.3

163.1

232,197

231,550

114,34260,22854 114

'61,650'20,79540 855

55 55825 60129,957

337,922

333,186

179,840115,21264, C2S

86,29940,08746,212

67,04743,64223,405

1.44

1.571.91.64.77.50

1.19.47.19.54

"1.40«1.93cl .13

1.211.70.78

5,7855 710

114,188

59,8342,9918,4844,2233,310

133.473.8

138.1119.6

146.6152.1111.0103.894.7

105.7123.3

136.4151.7147.3

122.2161.884.9

164.7

241,801

237,017

117,93862,13055,808

'61,813'20,67441,139

57,26626,48830,778

333,821

334,785

179,714115,42464,290

87,07340,53446,539

67,99844,36823,630

1.41

1.521.86.62.75.48

1.15.45.18.52

'1 .41' 1.96el . 13

1.191.68.77

5,5694 345

111,358

e 58,2112,7728,3474,1673,334

131.172.3

138.5109.6

146.4152.2107.499.591.4

104.9121.7

136.9150.1144.0

116.2146.687.6

163.4

209,707

230,294

14,32259,97354,349

'59,987'19,91440 073

55,98525,56830,417

337,433

337,676

180,977116,27864,699

87,70841,06046,648

68,99144, 68624,305

1.47

1.581.94.64.80.51

1.19.46.19.54

'1 .46'2 .06

1.16

1.231.75.80

4,9825 648

105,437

54,4262,6928,3054,1723,269

131.571.2

135.5108.9

150.1152.6106.296.389.798.0

124.0

136.9150.1146.4

118.4153.185.8

163.5

224,582

238,165

118, 98263,07756,905

'61,548'20,44541,103

57,63526,97630,659

341,939

340,396

182,393117,51164,882

87,64241,36946,273

70,36145,68424,677

1.43

1.531.86.61.77.48

1.16.45.18.52

1.42'2.02

1.13

1.221.69.80

6,1656 061

119,337

62,7663,0729,5154,8983,642

134.472.7

136.5103.7

149.5154.2106.196.488.299.8

123.9

138.1151.5149.5

126.5165.190.1

168.7

251,459

242,627

21,10164,45756, 644

'62,649'20,89741,752

58,87727,46631,411

349,204

345,839

183,860118,72565,135

89,09741,52147,576

72,88246,83826,044

1.43

1.521.84.60.77.48

1.15.45.18.52

1.42'1.99

1.14

1.241.71.83

6,2985,978

125,225

67,4733,4499,9575,1003,864

136.973.0

136.9109.9

148.9156.7114.3109.097.4

116.9124.7

139.5152.2152.3

130.5171.791.8

170.5

250,018

250,606

124, 53766,49358,044

'63,917'21,80742,110

62,15228,97433,178

352,432

350,545

185,715.19,84865,867

89,96341,88148,082

74,86747,67327,194

1.40

1.491.80.58.76.46

1.13.44.18.51

' 1.41'1.92

1.14

1.201.65.82

6,3786,240

127,014

68,3793,706

10,2525,1024,057

137.674.3

136.5106.0

152.8157.9115.5110.5104.7118.1124.8

140.4152.9152.9

130.1168.393.9

169.8

257, 761

251,869

123, 56665,41758,149

'64,292'21,82142,471

64,01128,69235,319

354,647

354,226

187, 689121,471

66,218

91,06342,30048,763

75,47448,36327,111

1.41

1.521.86.60.78.47

1.14.44.18.52

1.421.941.15

1.181.69.77

6,3866,249

125,144

67,3573,809

10,0865,1053,844

' 139. 074.7

' 138.7110.6

' 156. 2' 159.8' 117.5

114.5109.4122.9

' 123.2

142.3' 154.6

154.1

' 130.4' 167.7

95.0

' 170. 9

265,651

252,639

124,83966,29358, 546

'64,565'22,09242, 473

63,23528, 73834,497

354,157

356,920

189,557.22,68866,869

91,54342,03649,507

75,82048,81027,010

1.41

1.521.85.60.78.47

1.14.45.18.52

1.42'1.90

1.17

1.201.70.78

6,6736,092

131,727

71,8394,039

10,6095,3664,123

140.8'75 .2

' 138.4112.8

' 158.1' 159.4' 123.0' 119. 0

110.5133.6

' 129. 1

••144.0' 156.1' 156.4

' 132.1' 169. 7'96 .5

' 172. 0

240,107

250,853

123,03964,84758,192

'64,343'21,84442,571

63,19029,88933,301

355,639

'359,301

'191,167'123,830'67,337

92,47042, 35950, 111

'75,664'49,577'26,087

1.43

1.55'1 .90

.61

.81

.48

' 1 .16.45.18.53

1.44'1.94

1.18

1.19'1 .66

.77

5,7166,406

' 114,380

59,296c 3, 581' 9,131' 4, 678' 3,540

142.076.3

138.6

160.2159.7124.4120.7114.7124.8131.0

145.4157.2157.1

133.7171.098.6

173.1

260, 060

257,007

65,50522,755

356, 895

362,069

192,851125, 37467,477

93, 68042,64051, 040

75, 53849, 63025, 908

1.41

1.551.82.59.78.46

1.14.44.17.53

1.431.871.19

1.171.66

.75

125,389

'65,991*4,067'10,110

5,0164,050

*142.776.8

125.1

146.7158.5157.8

133.2168.0100.5

174.1

372,215

310,596

' Revised. * Preliminary. i Estimated. 2 Based on data not seasonally adjusted.3 Advance estimate; total Mfrs. shipments for Aug. 1978 do not reflect revisions for selectedcomponents. {See note marked "cf" on p. S-4. §The term "business" here includesonly manufacturing and trade; business inventories as shown on p. S-l cover data for alltypes of producers, both farm and nonfarm. Unadjusted data for manufacturing are shownbelow on pp. S-6 and S-7; those for wholesale and retail trade on pp. S-ll and S-12. fSee

corresponding note on p. S-6. ©Mfrs. shipments, inventories and new orders were revisedback to 1958; revisions prior to Aug. 1977 are available from Bureau of the Census, Wash., D.C.20233. ASee notes " V and " t" on p. S-12 for retail trade and note " O" on p. S-ll for whole-sale trade. 9Includes data for items not shown separately. OSee corresponding noteon p. S-4. « Corrected.


S-6 SURVEY CURRENT BUSINESS October 1978


1976 1977

Annual

1977


1978

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


MANUFACTURERS' SALES, INVENTORIES,AND ORDERSt—Continued

Shipments (not seas. adj.)t—ContinuedDurable goods industries!—Continued

Fabricated metal products mil. $__Machinery, except electrical doElectrical machinery doTransportation equipment do

Motor vehicles and parts doInstruments and related products do

Nondurable goods industries, total 9© doFood and kindred products doTobacco products doTextile mill products do

Paper and allied products doChemical and allied products doPetroleum and coal products doRubber and plastics products do

Shipments (seas, adj.), totalf© do_.By industry group:

Durable goods industries, total 9 do_.Stone, clay, and glass products do_.Primary metals do_.

Blast furnaces, steel mills do_.Nonferrous and other primary met._.do_.

Fabricated metal products do_.Machinery, except electrical do_.Electrical machinery do_.Transportation equipment do_.

Motor vehicles and parts do_.Instruments and related products do_.

Nondurable goods industries, total 9 ©.—doFood and kindred products doTobacco products doTextile mill products doPaper and allied products doChemicals 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 do

Nondefense doDefense do

Inventories, end of year or month:fBook value (unadjusted), totalf do

Durable goods industries, total doNondurable goods industries, total do

Book value (seasonally adjusted), totalf—doBy industry group:

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

Blast furnaces, steel mills doNonferrous and other primary met.do

Fabricated metal products doMachinery, except electrical doElectrical machinery do_Transportation equipment do _

Motor vehicles and parts do_Instruments and related products—do

By stage of fabrication :fMaterials and supplies 9- do_.

Primary metals do..Machinery, except electrical do..Electrical machinery do_.Transportation equipment do_.

Work in process 9 do_Primary metals do_Machinery, except electrical doElectrical machinery doTransportation equipment do

Finished goods 9 doPrimary metals doMachinery, except electrical doElectrical machinery do_Transportation equipment do _

Nondurable goods industries, total 9 -—doFood and kindred products doTobacco products do

- Textile mill products doPaper and allied products doChemicals and allied products doPetroleum and coal products doRubber and plastics products do

By stage of fabrication^Materials and supplies do___Work in process do___Finished goods do_._

77,508105,52973,868141,02895,38025,030

577,353180,9338,78636,387

48,219104,14282,34731,762

93,402227,918156,878111,59595,577500,346

40,624178,160151,51126,649

170,430108,52961,901

169,886

108,9683,99117,69910,1606,490

14,01724,32313,91220,4757,6405,265

36,5407,2226,9494,1055,625

44,7356,03610,6106,15212,262

27,6934,4416,7643,6552,588

60,91815,4953,4465,1095,21812,9655,1293,969

24,9459,55726,416

85,255119,00885,759170,739117,75828,570

635,879191,8879,58940,821

52,368113,89195,65636,955

102,713244,028177,735137,605109,361563,630

45,015205,263173,72331,540

180,118114,86265,256

179,714

115,4244,25917,779"i, 782

14,76026,37915,43321,2587,8515,727

38,7197,1417,3454,5206,733

46,8645,76011,8036,83511,655

29,8434,8787,2314,0792,870

64,29015,5753,5245,2945,62214,1345,9924,281

25,10210,11629,071

7,2179,5107,06011,8377,8262,376

54,22416,200

8323,483

4,501),465

3,094

112,019

58,6493,0618,5624,2993,331

7,07410,1557,25014,0709,7782,370

53,37016,113

7903,4424,3649,4508,0373,065

8,67020,48115,00011,3659,26347,240

3,80017,36314,8222,541

176,603113,240

178,082

113,9174,187

18,09010,3166,662

14,71425,31415,03121,3397,9435,596

38,9017,4596,8954,4716,819

45,9115,98911,2426,59311,703

29,1074,6427,177

2,817

64,16516,1293,4495,3535,63913,7515,8274,296

25,7879,919

28,460

7,63310,3817,699

14,82510,2292,560

55,62016,560

8063,667

4,41310,0558,0773,239

112,586

59,2852,9508,6374,3753,310

7,24010,1427,24314,5039,9232,402

53,30115,822

8013,4404,2829,6188,0413,152

8,71120,34115,25411,5999,47147,210

3,80617,63314,9712,662

177 031113,34163,690

179,011

114,4674,219

18,08210,2446,685

14,73225,43115,17321,4928,0245,642

39,0727,3737,0604,5206,843

46,2275,949

11,3656,690

11,718

29,1694,7617,0053,963

<2,931

64,54416,2683,5315,3035,634

13,9495,9264,296

25,72710,01128,805

7,81410,2977,758

16,23311,4192,537

55,65916,751

7793,705

4,4049,4008,2953,310

114,091

60,3162,951

4,3833,354

7,40610,2807,371

14,89610,2252,406

53,77516,094

7813,4864,303

3,163

8,92420,33915,42711,9719,56947,861

3,94117,82415,2162,608

178,220113,33864,882

179,301

114,4484,24318,07510,1766,728

14,69925, 64715,18521,0957,8775,709

39,0117,3127,1774,4736,901

45,9965,91911,3876,75011,354

29,4414,8447,0833,9622,840

64,85316,4023,5145,3035,63914,1095,9274,268

25,62310,17829,054

7,1379,9707,66814,89010,5012,501

54, 35416,545

8413,608

4,3139,1758,1373,119

114,342

60,2282,9868,7944,3843,440

7,29610,3907,502

14,52710,0522,431

54,11416,326

8213,5134,3459,6268,1603,197

8,94820,91915,38411,8519,499

47,741

4,01017,86015,1742,68P

179,313114,18565,128

179,840

115,2124,36117,97710,0626,739

14,75625,85215,24021,4318,1385,733

38,7937,2567,1734,4356,788

46,5155,84511,5176,82111,636

29,9064,8767,1633,9853,007

64,62816,0013,5345,2885,65814,1346,0504,226

25, 29710.16529.166

6,81510,6277,566

13,7549,1342,510

53,14716,494

8893,437

4,2829,1618,3462,980

117,938

62,1303,2239,1664,6393,552

7,41910,6707,640

14,90610,3342,485

55,80816,844

8843,6004,558

10,1048,2993,270

9,26921,51915,67212,2269,918

49,334

4,18418,20815,5252,683

180,118114,86265,256

179,714

115,4244,25917,7799,7826,826

14,76026, 37915,43321, 2587,8515,727

38,7197,1417,3454,5206,733

46,8645,76011,8036,83511,655

29,8434,8787,2314,0792,870

64,29015,5753,5245,2945,62214,1345,9924,281

25,10210,11629,071

6,3579,2857,13513,1409,0702,182

51,01115,338

7893,216

4,2299,3668,0052,820

114,322

59,9733,1368,7764,1633,677

7,00310,0517,83114,4209,6882,397

54,34916,100

8363,5354,42410,2238,0803,086

20,66215,00511,4409,52548,792

3,91117,97415,2962,678

182,745116,83565,910

180,977

116,2784,416

17,5559,5006,891

14,84926,73115,53921, 4438,1285,820

38,1776,7117,3294,4406,810

47,7855,880

12,0407,000

11,699

30,3164,9647,3624,0992,934

64,69915,7553,4275,4325,588

14,1676,0164,356

25,19010,14529,364

7,45711,0397,826

15, 31310,6002,359

56,57117,487

8003,562

4,66610,3098,1513,260

118,982

63,0773,3419,5914,932

7,58210,7787,71315,17610,4902,441

55,90517,343

8403, 5834,59310,0937,9533,219

9,14721,96915,71112,2619,93550,054

3,95118,45915,6902,769

184,450118,70465,746

182,393

117,5114,51017,1859,0896,912

15,22526, 92415,70321,8678,0225,950

38,5356,6037,3714,5286,971

5,87112,1117,15112,065

30,2804,7117,4424,0242,831

64,88215,6903,4195,4505,63214,2255,9864,419

25,33210,25829,292

7,91911,8608,175

16,67511,6412,661

57,75217,694

8763,691

4,77511,0108,0193,400

121,101

64,4573,3969,3104, 6833,680

7,84810,9647,979

15,67610,8692,630

'56,64417,747

8983,4864,719

10,2778,1583,226

9,19022,21716,20912,69010.27650,519

4,29618,97816,0952,883

185,448119,96965,479

183,860

118,7254,530

16,8288,7216,893

15.57327,40016,02322,127S,0196,087

38,5476,3937,4974,5816,782

49,4915,690

12,4577,259

12,266

30,6874,7457,4464,1833,079

65,13515,9683,4055,4455,664

14,4265,5914,401

25,73010,20829,197

8,18411,6858,119

17,08711, 9202,522

58,63517,539

9033,912

4,75911,4348,2073,462

124,537

66,4933,6579,8244,9683,834

8,01311,3648,119

16,28811, 2912,569

58,04417,775

9283,9764,750

10,5378,2393,314

9,61122,48016,54113,16010,65352,092

4,36919,53616,5982,938

186,844120,96365,881

185,715

119,8484,518

16.9408,8246,901

15, 87427, 75716,18822, 2647,9196,104

38, 7946,3717,7034,6306,730

50,3305,801

12,4877,365

12,674

30,7244,7687,5674,1932,860

65,86716,1683,4655,3945,687

14,7435,5764,445

25,74210, 35229,773

8,11011,2597,848

16,83311,7802,575

57,78717,778

8353,743

4,80311,8418,2733,306

123,566

65,4173,7109,6284,9423,640

7,88011,0917,929

15,97111,1382,602

•58,14918,015

8213,6974,796

• 10,4338,4433,235

9,39522,55416,30012,91710,65151,749

4,13319,05816,2572,801

188,499122,54065,959

187,689

121,4714,570

17,0608,8796,974

15,99228,27916,44522,7438,0376,140

39,4846,4277,8974,7296,822

50,9665,74012,7237,41013,018

31,0214,8937,6594,3062,903

66,21816,4363,4775,4335,79814,7635,3024,498

25,82510,35430,039

8,51012,4538,627

17,54012,0352,826

18,2041,0033,818

5,06611,1618,7213,491

124,839

66,2933,7109,8605,0623,786

7,89911,4258,167

15,88710,8032,674

58,54617,844

9603,6064,815

10,7198,5903,283

9,53222,54516,96812,56310,78652,445

4,36119,65316,7822,871

188,846122,89165,955

189,557

122,6884,56917,2098,9787,000

16,13028, 76616, 62822, 7848,0036,203

39,6676,4448,0124,8196,736

51,6845,81413,0487,45213,126

31, 3374,9517,7064,3572,922

16, 6433,5015,4755,86914,8615,3974,521

26,31410,27730, 278

'7,158• 10,446' 7,27113,1858,645

' 2,390

55,084116,983

'821' 3, 100

' 4,592' 9,605' 8,679' 3,001

123,106

65,222'3,6449,905

' 5,030

r 7,53911,454' 8,07115,51010,670' 2,579

57,88417,599••824

'3,639' 4,86110,399' 8,600' 3,258

' 9, 29122,30016,83812,34010,60551,732

r 4,15519,574• 16,819' 2,755

123,16066,279

'191,167

123,830' 4,606• 17,335' 9,126' 6,987

• 16,313• 29,062' 16,758• 23,010' 7,828' 6,199

39,727'6,394r 8,155r 4,873'6,541

52,763r 5,998' 13,102' 7,456' 13,698

' 31,340' 4,943' 7,805' 4,429' 2,771

' 67,337' 16,525' 3,385' 5,542' 5,939' 15,054' 5,530' 4,521

r 26,145r 10,348' 30,844

8,39010,8998,19313,8589,0822,683

59,89517,994

9603,784

5,01110,2128,9043,455

127,131

68,6843,778

10,3465,0424,232

11,6448,412

16,32411,2242,681

58.90717.908

9123,7454,862

10,1628,8403,428

9,77522,53917,37112,96411,13453,348

' 4,447• 20,409• 17,598' 2,811

191, 263124,60266,661

192,851

125,3744,69917,5239,3906,925

29,41316,88623,5878,2776,284

40,3936,5878,1704,9066,870

53,3576,012

13,3977,528

13,812

31,6244,9247,8464,4522,905

67,47716,5073,3485,5445,816

15,1935,5154,599

26,08210,36731,028

17,631

68,783

10,190

16,917

U,25521,44618,431

i 3,015

Revised 1 Advance estimate; total mfrs. shipments for Aug. 1978 do not reflect re-visions for selected components. t Revised series. Data revised back to Jan. 1958 to reflect(1) benchmarking of shipments and inventories data to the 1974, 1975, and 1976 Annual Sur-veys of Manufactures, (2) recalculation of new orders estimates, and (3) updating of the sea-sonal factors. A detailed description of this revison and historical data appear in report M3-1.7,

"Manufacturers' Shipments, Inventories, and Orders: 1958-1977," available for $2.45 from theBureau of the Census, Washington, D.C. 20233. Data back to Jan. 1958 for mfg. and trade salesand inventories and inventory-sales ratios appear on p. 34ff. of the May 1978 Survey. ©Seecorresponding note on p. S-5. 9 Includes data for items not shown separately. e Cor-rected.


October 1978


1976

SUJR

1977

Annual

OF (JUKIttKN'J: But1977


SINEJSJS S-71978



MANUFACTURERS' SALES, INVENTORIES,AND ORDERSt—Continued

Inventories, end of year or monthf—ContinuedBook value (seasonally adjusted)—Continued

By market category :fHome goods and apparel mil. $__Consumer staples doEquip, and defense prod., excl. auto doAutomotive equipment doConstruction materials and supplies doOther materials and supplies do



New orders, net (not seas, adj.), total fA doDurable goods industries, total doNondurable goods industries, total A do

New orders, net (seas, adj.), total fA doBy industry group:

Durable goods industries, totalf doPrimary metals do

Blast'furnaces, steel mills doNonferrous and other primary met.—do

Fabricated metal products do_.Machinery, except electrical do _.Electrical machinery do_.Transportation equipment do_.

Aircraft, missiles, and parts do_.

Nondurable goods industries, total A doIndustries with unfilled orders© doIndustries without unfilled orders HA. -do

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



Unfilled orders, end of year or month (unadjusted),totalf mil. $ -

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

Unfilled orders, end of year or month (seasonallyadjusted) totalf mil. $_.

By industry group:Durable goods industries, total 9 do

Primary metals __doBlast furnaces, steel mills doNonferrous and other primary met.—do

Fabricated metal products doMachinery, except electrical doElectrical machinery doTransportation equipment do_. _.

Aircraft, missiles, and parts doNondur. goods ind. with unfilled orders© .do

By market category:!Home goods, apparel, consumer staples, .doEquip, and defense prod., incl. auto doConstruction materials and supplies doOther materials and supplies do



14,78322,93339,5749,718

14, 270

7,26043,05636, 7206,336

1,189,604611,963577,641

2l,189,604 2l,354,099

BUSINESS INCORPORATIONS©New incorporations (50 States and Dist. Col.):

Unadjusted number..Seasonally adjusted do.

INDUSTRIAL AND COMMERCIALFAILURES©

Failures, total.. number..Commercial service. do.Construction do.Manufacturing and mining. _ do.Retail trade- do.Wholesale trade do

Liabilities (current), total thous. $..Commercial service do.Construction doManufacturing and mining doBetail trade.... do.Wholesale trade- do

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

611,96394,22647,39637,377

76,997103,90175,884143,60632,279

577,641124,527453,114

93,444227,963158,051112,78894,415502,943

40,462179,736150,01129, 725

174,001166,1377,864

174,553

166,44015,8539,9624,850

22,89043,70723,32052, 72434,502

8,113

3,285100, 35517,88153, 032

2,617109,38677,28432,102

375,766

9,6281,3311,7701,3604,1391,028

3,011,271490,140428,7371,121,722556,912413,760

2 34.8

15,34023,94242,83610,10814,93572,553

7,77146,67740,2946,383

1,354,099717,537636,562

717,537105,96853,39441, 360

85,609122,48988,241178,61742,420

636,562139,673496,889

103,442244,051186,752138,805110,261570, 788

45, 733216,849182,41334,436

193,029184,4828,547

193,659

184,83418,51311,8525,350"

23,20347,22125,83360,52741,275

8,825

4,091110,48818, 76560, 315

3,389120,89985,89335,006

7,9191,0411,4631,1223,406887

3,095,317358,686420,2201,221,122482,560612,729

2 28.4

15,35824,13141, 37610,17314,63072,414

7,81245,20138,8516,350

111,62357,59854, 025

112,615

59, 2698,9184,4523,503

7,03310,4697,43913,7212,841

53,34611,78241,564

8,95320,50314,53811,4949,34247,785

4,07017,03514,5272,508

183,813175,2968,517

182,453

173,88717,50111,2345,025

22,84945,35824,58554,90837,078

8,566

3,907104,12918, 28956,128

3,121112, 73981,48031,259

39,16939, 525

687951298529385

338,25221,67126,65891,85900,813137,251

29.7

15,26024,62641,72910,25714,77772,362

7,81445,54439, 2316,313

117,77062,24355,527

113,680

60, 3648,9884,6653,358

7,12410,5767,38114, 5183,328

53,31611,73041,586

8,73620,29815,43611,5369,40648,268

3,82018,23416,1242,110

183,975175,5518,424

183,547

174,96617,85211,5245,073

22,73345, 79224,72354,92337,278

8,581

3,889104, 24818,22457,186

3,135113,34082,63330, 707

36,11037,812

560671029221980

96,99410, 29916,37528,65620,70120,963

27.0

15,26424,50341,78310,11414,93772,700

7,80845,54639,3896,157

122,43566, 69955,736

117,331

63,5568,6964,3593,376

7,50910,7627,56417,1174,519

53,77511,77042, 005

9,14620,33917,55512,1019,63448,556

4,13820,55616,0974,459

187,464178,9638,501

186,787

178,20617,85811,5005,095

22,83646,27424,91657,14438,650

8,581

4,111106,50618, 28957, 881

3,332116,07283, 51432,558

36,72338,943

54685986522672

115,69215,68237,26420,70323, 62218,421

24.2

15,19324,39342,15510,30815,04672,745

7, 75845, 92639,6636,263

116,12261,76754,355

117,024

62,8219,2684,7663,501

7,63510, 7978,05915,2473,283

54,20311,93242,271

8,90820,90817,07011,7369,88548,517

3,99819,51116,0903,421

189,398180,8968,502

189,469

180, 79918,33211,8825,156

23,17546,68125,47357,86439,004

8,670

4,060108,07718, 67558,657

3,320117, 72384,43032,293

34,58638,344

621761328726264

200,28718,65921,52765,28662,41832,397

27.0

15,34023,94242,83610,10814,93572,553

7.77146,67740,2946,383

114,98961, 79753,192

122,128

66,1659,3474,6093,746

7, 44711,2108,00017, 5695,240

55,96312,28943,674

9,32521,49417,78512,52410,00850,992

4,25321,38416,9884,396

193,029184,4828,547

193,659

184,83418,51311,8525,350

23, 20347,22125,83360, 52741, 275

8,825

4,091110,48818,76560,315

3,389120,89985,89335, 006

38,00839,674

517778996

20055

168,31713,98610,415101,78932,2249,903

22.5

15,73824,09242,97110,37715,20372,596

8,02646,96640,5126,454

109,53258,17251,360

117.899

63,3359,8574,9383,940

7,59710,5638,43414, 749r 3,675

54,56412,00242,562

9,00720,68016,83911,47510,01150,088

3,99419,38216,5112,871

197,123188,227

197,235

188,19419, 59412,6275,613

23,79747,73226,43660,85641,598

9,041

4,219112,15619,24961,611

3,472122,30787,10735,200

36,547

504636974

23167

168,30821,3599,76482,39340,51314,279

21.6

15,84823,90243,86910,27615,72072,778

8,05347,82441,1886,636

123,02266,34356,679

122,544

66,6819,9465,3023,611

8,01911,4828,46016, 392' 4,162

55,86312,04743,816

9,22221,98417,82212,52110,41750,673

20,53817,8822,656

200,807191,8049,003

200,798

191,79819,94812,9965,526

24,23348,43427,18662,07242,502

9,000

4,309114,52719,73162, 231

3,520124,38889,30135, 087

35,24939,253

559631048325059

205,01470,08124,29746,08034,85429,702

24.0

15,94724,15744, 64510,25615,85373,002

8,11648,77242,1516,621

129,66871,71257,956

125,801

69,01610,2285,3763,850

7,82611,5738,319

18,0854,221

56,78512,41244, 373

9,16022,22218,80212,89510,39752,325

4,26221,99217,5074,485

205,248196,0399,209

205,500

196,35920,86613, 6895,696

24,21349,04427,52664,48043,396

9,141

4,285117,32619,85264,037

3,486127,40290, 71236, 690

43,13037,602

6667910611428879

324,41212,31916,543230,15937,86727,524

24.6

16,06624,62145,22810,12916,05973,612

8,18849,51842,7806,738

71,89059,009

128,175

70,03310,3085,3313,957

8,77811,5368,626

17, 7214,943

58,14212,88045,262

9,73522,53418,42313,17111,21853,094

4,51321,44017,4094,031

209,132199,549

9,583

209,133

199, 89521, 34914,0525,819

24,97649,21928,03165, 91544,9989,238

4,457119,22120,41765,038

3,625129, 31091, 52837, 782

38,498

594781078125771

202,99031,38824,49078,09435,82433,194

24.1

16,18324,92846,15510,29716,09173,035

8,30150,51243,6106,863

128,66570,72357,942

128,450

70,04510,7545,8453,811

8,02311,8728,35218,0194,832

58,40512,97145,434

9,42222,54919,29513,01810,60053,556

4,15022,20218,1244,078

212,654202,915

9,739

214,010

204,51622,47614,9555,990

25,11850,00128,45567,96346,6089,494

4,483122,30620,36666,855

3,644132,45393,39539,058

41,96038,320

583751098724666

160,39514, 87217,54777,21327, 85022,913

23.4

16, 27625,40746,76110, 26516, 29374,555

8,30751,39944,5836,816

134,17174, 23759,934

127,580

68,84010,4285,4513,954

7,73611,4778,23917, 9535,677

58,74012,93445,806

9,39822,52618,31712,61210, 69054, 037

4,26321,59218,1553,437

215,098205,310

9,788

216,754

207,06723,04315,3446,158

24,95650,05528,52970,02948, 756

9,687

4,329123,70820,26968,448

3,546134,39394,76839, 625

43,05939,796

16,70725,36647,339• 10,10616,29975,350

' 8,57452,112

•45,227r 6,885

117,02361, 70255,321

123,279

65,18710,095' 5,151' 3,850

r 7, 524• 11,669r 7, 902• 15,226r 3, 298

• 58,092' 13,070• 45,022

' 9,17722,35016,20412,20910,43752,902

' 4, 03919,35517,074>• 2, 281

'217,738207, 714r 10,024

'216,922

'207,02623,232'15,464r 6,184

•24,941•50,268•28,35869,745'48,751r 9,896

' 4,266122,938•20,102•69,616

r 3,431134,17295,021'39,151

39,24539,403

16,82825,38547,99210,55516,39275,699

8,62352,85645,9496,907

128,929' 69,71359,814

130,056

71,58210,8765,2134,462

8,26911,6718,60218,5765,475

59, 02113,17745, 844

9,85922, 52219, 21313, 03010, 93054, 502

' 4, 56322,70119,344' 3, 357

221, 285••211,3399,946

219, 848

'209,922r 23,76015, 6366,414

24,97250,29628,54771,93850,659

10,009

4,332124,85019,89770,769

r 3, 546136,46496,76739,697

i 71,522111,363

73,849

17,651

4,4091 22,701' 19,4923,244

1213,071i 24,924

72,667

i 3, 700137,749i 97,826i 39,923

r Revised. * Preliminary. > Advance estimate: totals for mfrs. new and unfilledorders for Aug. 1978 do not reflect revisions for selected components. 2 Based on unadjusteddata. f See corresponding note on p. S-6. 9 Includes data for items not shown sepa-rately. ASee note marked "©" on p. S-5. ©Includes textile mill prod., leather andprod., paper and allied prod., and print, and pub. ind.; unfilled orders for other nondurablegoods are zero.

If For these industries (food and kindred prod., tobacco mfs., apparel and other textileprod., petroleum and coal prod., chem. and allied prod., rubber and plastics prod.) sales areconsidered equal to new orders. O Compiled by Dun <t Bradstreet, Inc. (failures datafor 48 States and Dist. of Col.; Hawaii included beginning July 1975; Alaska, beginningSept. 1976).




1976 1977

Annual

1977


1978


COMMODITY PRICES

P R I C E S RECEIVED AND PAID BYFARMERS*

=100__Prices received, all farm products 1910-14'Crops 9 do

Commercial vegetables doCotton do___.Feed grains and hay doFood grains doFruit do___.Tobacco do

Livestock and products 9 do_.Dairy products do..Meat animals do..Poultry and eggs do_.

Prices paid:All commodities and services ___do

Family living items doProduction items do

All commodities and services, interest, taxes, andwage rates (parity index) 1910-14=100..

Pari ty ratio § do

CONSUMER PRICES1(U.S. Department of Labor Indexes)

Not Seasonally AdjustedALL ITEMS, WAGE EARNERS AND CLERI-

CAL WORKERS, REVISED (CPI-W)T1967=100-.

ALL ITEMS, ALL URBAN CONSUMERS(CPI-U)1 1967=100..

Special group indexes:All items less shelter doAll items less food doAll items less medical care doCommodities do

Nondurables doNondurables less food do

Durables doCommodities less food .doServices do

Services less rent.. _ doFood 9— do-

Food at home _ do.Housing _ do. . .

Shelter 9 do. . .Rent do. . .Homeownership do..

Fuel and utilities9 . . .do . . .Fuel oil and coal _ do. . .Gas (piped) and electricity .do. . .

Household furnishings and operation do._.Apparel and upkeep do. . .Transportation do

Private do. . .Newcars do. . .Used cars do

Publ ic . . . do. . .Medical care do__.

Seasonally Adjusted AAll items, percent change from previous monthCommodities 1967=100Commodities less food do. . .Food do. . .

Food at home 11-ll.lll.lldoFuels and utilities do.

Fuel oil and coal do..Apparel and upkeep do_.Transportation __ do

Private doNew cars 111.1.dol.

Services do_.PRODUCER PRICESd"(U.S. Department of Labor Indexes)

Not Seasonally AdjustedSpot market prices, basic commodities:

22 Commodities 1967=100..9Foodstuffs do13 Raw industrials do. . . .

All commodities do .By stage of processing:

Crude materials for further processing doIntermediate materials, supplies, etc do..Finished goods O do____

Consumer finished goods _ _doCapital equipment do.__.

By durability of product:Durable goods do. . . .Nondurable goods do._Total manufactures do

Durable manufactures doNondurable manufactures do

464443456504387355294906

485591569233

564563559

650

71

170.5

170.5

168.3167.5169.7165.2169.2158.3154.3156.6180.4186.8180.8179.5

1 174.6179.0144.7191.7182.7250.8189.0

1 160.1147.6165.5164.6135.7167.9174.2184.7

5 201.05 201. 65 200.6

183.0

205.1189.3170.3169.0173.2

176.0188.0179.0175.6182.1

456431496509316275358972481594564228

591573580

687

181.5

181.5

179.1178.4180.3

174.7178.9166.5163.2165.1194.3201.6192.2190.2186.5191.1153.5204.9202.2283.4213.4167. 5154.2177.2176.6142.9182.8182.4202.4

*209 6s 208 25]

194.2

214.4201.7180.6178.9184.5

188.1198.4190.1188.1191.8

436388425492260259381

591577224

579575

68564

183.3

183.3

180.8179.8182.0

176.3180.8167.3164.3166.0196.3203.8195.2193.2188.3193.2154.4207.4204.5284.1217.4168.4154.8178.8178.2141.6186.4183.5204.9

0.4175.7165.7194.3192.0205.8288.1155.2177.2176.5143.5196.8

200.8198.0202.7194.6

207.3203.4181.3179.7184.7

189.5197.8191.1189.5192.3

434

383435499255263395

1,075486610569225

589582572

685

63

184.0

184.0

181.2180.9182.6

176.6181.0168.4164.5166.7197.7205.3194.5192.2189.5194.7155.3209.1205.5285.1218.0169.1156.2178.4177.8141.1182.5184.1206.3

0.4176.2166.2194.7192.3206.7289.5155.3177.4176.8144.1197.9

201.3198.9202.9195.3

207.8204.2181.8180.2185.6

190.8198.0191.9190.9192.4

442

400459448264283496983

485618570214

591584574

685

65

184.5

184.5

181.7181.6183.1

177.0181.4169.2165.0167.4198.5206.2194.4191.7190.4195.6156.1210.0206.8287.2219.3169.6157.2178.6177.9145.7178.0184.4207.2

0.3176.7166.8195.0192.5208.1289.5155.7177.5176.9145.0198.7

203.3201.2204.7196.3

208.0204.4183.9181.4189.9

192.6198.4193.1192.8192.8

445

414512428290305434993

478624552217

593585576

688

65

185.4

185.4

182.5182.5184.1

177.9182.4170.1165.5168.1199.5207.2195.6193.0191.4196.9157.0211.5207.4289.9219.5170.2158.5178.7178.0148.2175.0184.7208.1

0.4177.5167.6196.0193.5207.6289. 5156.4178.3177.8146.9199.5

205.9208.8203.8197.0

210.5204.8184.5181.8190.8

192.9199.4193.7193. 2193.5

452

411450411299310414

1,015495624582223

595588578

690

66

186.1

186.1

183.0183.1184.7

178.3182.9170.3165.9168.4200.5208.2196.3193.7192.4198.2157.9213.0207.6291.9218.9171.0158.2178.8178.0150.5170.7185.7209.3

0.4178.3168.4196.7194.2207.1289.6156.8179.2178. 7148.4200.3

212.7215.1210.9198.2

215.6205.3185.5182.9191.5

193.8200.8194.5194.0194.4

465

423530404306314424

1,024509624613218

605590590

710

65

187.1

187.2

183.8183.8185.8179.2183.9169.7166.6168.6202.0209.8199.2197.0193.8200.0

2158.8215.0

3 208.54 295.2

219.7171.3155.7179.0178.2150.9169.8186.6211.2

0.8179.9169.5199.2197.0

3 207. 74 290.8

157.2180.3179.7149.3201.5

218.0215.4219.7200.1

219.6207.2187.0184.4193.0

196.1202.3196.2196.1195.6

482427518425313320441

1,020

539624661235

611593598

717

67

188.4

188.4

185.0184.7186.9

180.2185.1169.6167.2168.8203.5211.4202.0200.1195.0201.3

2159.7216.4

3 210. 64 296. 9

223.3172.1154.5179.4178.6151.2170.0186.8213.3

0.6180.8169.9201.6199.5

3 209.44 291.1

155. 7181.4180. 7150.3203.0

220.3220.8219.9

• 202.1

225.0208.9188.5186.2193.7

198.0204.5197.8197.9197.1

501

445533433325328460

1,006

560624700

621598611

72769

189.7

189.8

186.3185.9188.3

181.6186.8170.7168.3170.0204.9213.0204.2202.5

196.7202.9

2 160. 5218.3

3 212.64 297. 2

226.6173.6156.5179.9179.1151.1172.3187.2214.5

0.8182.3170.9204.3202.5

3 211.54 294.0

157.2181.7181.0150.5204.7

226.3236.0219.8203.8

231.2210.7189.0186.7194.5

199.1206.6198.9198.9198.1

521

468696437337344441

1,017

576618730245

630602621

735

71

191.4

191.5

188.1187.4190.1

183.5188.8171.8169.9171.3206.5214.6207.5206.5198.3204.7

2 161.5220.4

3 213.94 296. 6

229.2175.0158.4181.1180.3151.2177.3187.3215.7

'0 .9184.0171.8208.1207.3

3 213.24 295. 7

158.8182.0181.3151.0206.6

225.0237.9216.5206.4

239.0212.5191.5189.7195.6

201.4209.5200.9201.1199.9

538478604454351340503

1,018

597612779237

638608630

74472

193.3

193.3

189.9189.0191.9

185.5190.7172.8172.0173.0208.0216.2210.3209.7199.9206.6

2162.7222.5

3 215.54 295. 6

232.5176.0159.8183.2182.6152.5184.6187.4216.9

0.9185.6172.8211.2211.1

3 215.54 296.5

159.7183.2182.5152.8208.7

228.1243.7217.8207.9

• 241.2• 213.9' 193.1'191.4196.9

202.6211.3202.4202.4201.7

543486588463342337583

1,017

603612789238

641613632

747

73

195.3

195.3

191.8190.6193.9

187.5192.7173.7173.9174.4209.9218.3213.8213.9202.0208.9

2 163.6225.3

3 217.54 295.1

236.5177.6159.9185.5185.0153.5191.5187.2217.9

0.9187.2173.9214.0214.0

3 217.84 297.8

160.3184.4183.8154.1210.5

229.6240.8221.1209.4

245.3214.8194.4192.8198.2

203.8213.0203.7203.6203.1

537478531478324335586

1,030

597618763258

643620632

74872

196.7

196.7

192.7192.0195.3

188.6193.6174.1175.3175.4211.7220.4215.0214.7203.8211.3

2 164. 2228.3

3 218.04 294. 5

237.2178.1158.0187.2186.8153.9195.9187.7219.4

0.5187.9174.9213.9213.2

3 218.84 297. 5

159.3185.618a. 1155.3212.2

228.9234.9224.7210.6

245.4215.8195.9194.5199.1

205.3213.9204.8205.0203.9

••525

' 4 5 5' 4 4 9••478' 3 0 7'337'554

1,078

'598' 6 4 2

765243

643624

74970

197.7

197.8

193.5193.3196.3

189.3194.4175.4175.9176.3213.4222.2215.4214.5205.2213.3

2 165.1230.6

3 218.14 294.2

236.9178.9159.6188.1187.7153.8196.7187.6221.4

0.6188.7175.7214.5213.3

3 219.44 298.4

160.1186.6186.1155.8214.0

236.2241.4232.6210.4

240.2217.2195.3193.4199.8

207.1212.1205.6206.9203.4

535454470465296332620

1,144

619661796247

650628638

75671

199.1

199.3

194.5195.1197.9

190.5195.4177.1177.2177.8215.6224.6215.6214.1

207.5216.2

a 166.4234.2

3 218.84 295. 7237.9180.5161.9188.7188.3153.5195.9188.2222.6

0.8190.1177.2215.6214.1

3 219. 94 300.2

161.1187.8187.5156.8156.8

243.0248.7239.1212.3

244.9218.7196.9195.1201.0

208.0214.7207.1207.8205.6

rRevised. ^Preliminary, i Includes TV and sound equipment and repairs formerlyin health and recreation." 2 Residential. 3 includes additional items not previouslypriced. < Includes bottled gas. « Computed by BEA. JData revised back to 1965to reflect new base weights; comparable data for earlier periods will be shown later. 9 In-cludes data for items not shown separately. § Ratio of prices received to prices paid(parity index). IData through December 1977 are for urban wage earners and clerical

workers; beginning January 1978, there are two indexes, all urban wage earners and clericalworkers, revised (CPI-W), and all urban consumers (CPI-U). These indexes reflect improvedpricing methods, updated expenditure patterns, etc.; complete details are available fromBureau of Labor Statistics, Washington, D.C. 20212. ABeginning Jan. 1978, CPI-U.

cf For actual producer prices of individual commodities see respective commodities.O Goods to users, incl. raw foods and fuels.


October 1978 SURVEY OF CURRENT BUSINESS

COMMODITY PRICES—Continued

S-9


1976 1977

Annual

1977


1978


PRODUCER PRICEScf-Continued(U.S. Department of Labor Indexes)—Continued

All commodities—ContinuedFarm prod., processed foods and feeds.1967=100.

Farm products 9 d o . . .Fruits and vegetables, fresh and dried - d o . . .Grains _ d o . . .Live poultry d o . . .Livestock do . . .

Foods and feeds, processed 9 . . . doBeverages and beverage materials doCereal and bakery products __ .doDairy products .doFruits and vegetables, processed doMeats, poultry, and fish .do

Industrial commodities do.

Chemicals and allied products 9 .do.Agric. chemicals and chem. prod. do.Chemicals, industrial do.Drugs and Pharmaceuticals do.Fats and oils, inedible do.Prepared paint do.

Fuels and related prod., and power 9 do..Coal do..Electric power do..Gas fuels do.Petroleum products, refined do.

Furniture and household durables 9 do.Appliances, household do.Furniture, household do.Home electronic equipment . .do.

Hides, skins, and leather products 9 do..Footwear do..Hides and skins do..Leather do.

Lumber and wood products... . . .do .Lumber . .do.

Machinery and equipment 9- -do.Agricultural machinery and equip do.Construction machinery and equip do.Electrical machinery and equip do.Metalworking machinery and equip. .-do.

Metals and metal products 9 do..Heating equipment do.Iron and steel . . .do .Nonferrous metals. do.

Nonmetallic mineral products 9 do . . .Clay prod., structural, excl. refrac do . . .Concrete products do.._Gypsum products do. _.

Pulp, paper, and allied products do.- .Paper . . .do . - -

Rubber and plastics products.. do . . .Tires and tubes . . . do - . .

Textile products and apparel § do . . .Synthetic fibers Dec. 1975=100.Processed yarns and threads do. _.Gray fabrics do. . .Finished fabrics do-_.Apparel 1967=100Textile house furnishings do

Transportation equipment 9 . . .Dec. 1968=100.Motor vehicles and equip 1967=100.

Seasonally Adjusted]:

All commodities, percent change from previousmonth

By stage of processing;Crude materials for further processing. .1967=100.Intermediate materials, supplies, etc do.. .Finished goods O do__

Consumer finished goods do. .Food do_-Finished goods, exc. foods do . .

Durable do. .Nondurable do. -

Capital equipment .do. .

By durability of product:Total manufactures- do. .

Durable manufactures do. .Nondurable manufactures do. -

Farm products do.Processed foods and feeds do.PURCHASING POWER OF THE DOLLARAs measured by—

Producer prices 1967=$1.00.Consumer prices do._

J83.1191.0178.4205.9166.9173.3

178.0173.5172.1168.5170.2181.6

182.4

187.2188.4219.3134.0249.9174.4

265.6368.7207.6286.8276.6

145.6139.2153.691.3

167.8158.9258.4188.1205.6233.0

171.0183.0198.9146.7182.7

195.9158.0215.9181.6

186.3163.5180.1154.4179.4182.3159.2161.5

148.2102.499.5

106.1101.1139.159.3

151.1153.8

$0,541.587

188.8192.5192.2165.0175.4173.0

186.1201.0173.4173.4187.4182.0

195.1

192.8187.8223.9140.5279.0182.4

302.2389.4232.9387.8308.2

151.5145.1162.287.7

179.3168.7286.7201.0236.3276.5

181.7197.9213.5154.1198.5

209.0165.5230.4195.4

200.5179.8191.8183.5186.4194.3167.6169.9

154.0107.3100.9104.7103.7147.3171.

161.3163.

$0.51.55:

184.3181.8176.5140.5176.1175.2

184.9205.5172.1175.3190.4182.7

196.9

193.6188.6224.5141.2268.9183.9

184.4204.8174.6175.6191.1182.8

197.8

193.2189.9224.1141.4246.9185.1

309.5394.2244.6400.9313.1

152.6146.6163.286.8

180.2169.9

200.3242.7286.4

182.8198.6215. 3154.6200.8

211.7166.0233.2198.5

202.5184.5193.5189.8187.8196.2169.3172.0

154.6109.3102.8103.3104.6147.8170.8

160.7163.2

0.2

205.9202.6181.4179.189.4173.0153.6186.1185.5

190.9189.5191.5

181.8184.

$0.514.546

184.4182.0182.9144.2181.7172.9

309.9395.1242.8405.2313.2

152.7147.5^163.386.4

179.6170.027'4.4200.5252.9301.7

183.8200.4214.7155.7202.3

212.6166.8236.0195.1

204.3185.7194.0193.7188.1196.0169.5172.0

155.1109.4102.1103.0104.4148.4174.4

161.5163.9

0.3

205.203.182.1180.188.174.153.187.186.

191.191.1191.4

181.183.6

$0.512.543

184.3182.0188.0144.7170.5177.5

184.3205.0175.5175.9190.4184.7

199.1

193.7190.2224.9141.8260.9185.1

310.7398.5242.1406.2314.2

153.0147.8164.186.2

179.2171.2266.6196.4247.8292.4

185.4201.4217.2157.3203.5

211.8168.0234.4193.6

205.4187.8195.0201.6188.7197.4170.2172.0

155.2109.2101.2103.7104.3148.6175.2

16'170.7

0.6

207.7204.3183.2180.8189.4174.8154.9188.0188.9

192.3192.2192.0

183.5184.8

$0,509.542

187.0185.6193.5164.6162.7171.6

186.9201.7179.9176.9193.1183.4

199.3

193.9188.2225.1142.3265.4186.7

310.5400.6237.6414.0313.6

153.8148.0165.186.6

180.0171.6273.2197.0243.3284.8

186.8205. 3220.8157.9204.9

212.0168.3233.5194.2

205.7185.1195.4203.2188.2197.2170.2171.7

155.3109.3100.4105.2103.5149.1175. 3

168.1170.7

0.7

214.4205.2184.3181.9191.7175.4155.4188.7189.9

193.7193.193.5

189.2188.1

$0,508.539

189.4188.3169.5167.3157.8182.7

189.3201.3182.1178.2194.4190.8

200.0

194.1187.1225.3142.9266.1185.9

312.0402.0237.0422.3313.9

154.2148.0166.486.5

181.5171.6291.9200.4249.2291.0

187.5206.3223.0158.0206.0

213.3169.3235.7195.1

206.6185.5195. 7204.9187.6196.9170.0172.1

155.8109.3100.5107.2103.6149.4175.3

168.3170.9

0.4

217.2205. 9185.2182.7192.6176.0156.0189.5191.1

194.7194.2194.4

188.7189.3

$0.50.53

192.2192.2196.6169.1170.2188.2

191.5202.1184.3178.0194.3193.6

201.6

194.1187.5224.3144.1263.2186.1

312.8403.8239.5420.4314.3

156.5149.5168.289.0

185.8173.4300.4210.8256.4300.4

189.3206.7223.5160.0208.3

215.2171.3237.9198.0

212.9189.6202.9209.7188.0197.5170.2172.3

156.5110.0100.6108.9103.6150.1175.4

169.1171.3

«0.9

« 221.6« 207. 9« 186.6° 184. 2« 194. 8«177.1«157. 4« 190. 3• 192. 3

° 196.4«196. 3« 195. 8a 192.0a 191.0

$0,500".534

196.8198.9204.2170.8188.8202.1

194.9201.3185.0178.7194.5205.4

202.9

195.2189.1224.2145.0281.5189.3

312.9404.9242.6417.7

r 312. 9

r 156. 7r 149. 8

168.8'88.7

r 187. 2* 175. 7

298.2211.9263.7308.5

r 190. 3*• 207.7r 224.8r 160. 7••209.5

219.1' 170. 7r 244.8

199.7

' 215.1r 190. 4

205.2215.9

' 188. 6198.3170.2

r 170. 9

157.0••109.9

101.0109.9

' 103. 7' 150.0' 175.8

' 169. 5'171.8

1.0

228.7209.7188. f

»• 1 8 6 . 4r 200. 7' 177. f' 157. 7' 190.9

193.5

198.4198.1198.1

197.4r 195. 4

$0.49o.531

200.3205.3201.6178.9187.9208.3

196.8200.0185.7180.3195.6204.6

204.1

196.2190.8224.1145.3294.6189.5

315.3407.2250.0423.6311.1

157.4150.9168.988.5

188.1176.2296.0215.3266.0312.5

191.4207.6224.9161.7210. 5

221.1171.1247.2201.1

215.8193.5205.9217.0189.8199.0171.3172.2

157.3110.5101.1112.2102.9150.0176.7

169.6171.9

1.0

231.7211.3189.6187.5202.1178.4158.7191.5194.6

199.5199.3199.1

205.5198.7

$0.491.527

205.5213.6227.3198.7196.0218.1

200.2200.1188.6184.5196.4211.7

206.0

197.0192.1224.4146.2301.3191.6

317.3426.6250.8428.7311.6

158.3152.1169.988.5

192.2180.5320.5217.4269.5316.7

192.4208.6227.9162.4212.0

223.8172.5251.7202.9

218.0193.7207.8221.2191.6202.8172.7175.0

157.7109.8101.3113.9103.1150.3176.4

170. 5172.8

1.0

238.5212.4192.0190.4205.8180.8163.2192.4195.7

201.4201.3200.8

214.2201.0

$0.484.522

207.7215.7220.3189.2194.5230.3

202.5199.5188.2184.5197.3220.4

207.3

198.6203.3223.6146.6315.2192.6

319.7432.4252.8428.9314.4

158.4152.1170.687.4

193.8181.4321.7217.3273.4316.5

193.7209.2229.8163.3213.5

224.4173.7251.7203.2

219.1194.2209.4228.2193.0204.3173.7178.7

158.4110.2101.0117.1103.2150.8177.0

172.1174.7

0.7

238.9213. 7193.4191.6206.7182.3165.5193.3197.3

202.7202.6202.5

214.2202.6

$0.481.517

210.4219.5230.2188.1221.6236.2

204.6200.0189.0185.4198.7226.2

208.5

199.1202.4224.6147.8313.2192.6

322.8434.6256.5428.1318.0

159.2152. 3172.387.4

195.5181.6346. 5217.4278.5320.8

195.1210.3230.7164.5215.3

225.2173.6252.1205.0

221.7195.5211.4230.2193.3205.4174.4179.3

158.9109.1101.3117.8102.9151. 7178.7

172.5175.2

0.7

243.1214.3194.7192.9209.1182.9165. 5194.3198.9

203. 7203.4202.9

218.2203.6

$0. 478.512

210.5219.9252.3183.8246.5226.8

204.5198.8191.9186.1200.3224.4

209.9

199.8201.9225.0148.5335.6192.6

324.4437.1255.0430.7320.9

160.8153.1174.090.0

197.6182.2360.4224.5277.5319.1

196.4211.7232.4165.5216.5

226.9174.1253.6206.0

224.5196.6214.2234.0195.6206.9174.7179.8

159.7109.1101.9119.1103.1152.8179.4

172.7175.3

0.3

241.7215.4195.7193.9208.4184.8168.4195.4199.9

204.4205.0202.9

216.8201.6

$0. 475.508

205.3210.3215.2178.9204.8216.6

201.8197.2191.7190.8203.3215.9

211.2

199.4201.9226.2148.6312.9192.6

324.9442.4253.8425.5323.1

160.7153.7175.687.3

205.4184.5400.8251.9281.4326.3

197.5213.4234.2166.0218.0

231.0175.5258.4211.0

226.9197.7219.5235.9196.0208.1175.4179.9

160.3109.3102.4120.8103.2153.3179.2

173.0175.6

0.3

238.6216.4195.5193. 4205.2185.6169.6195.9200.6

205.4206.9202.6

210.8201.4

$0. 475.506

209.5215.3209.8176.9211.1226.8

205.5197.8190.9192.9204.9224.4

212.4

200.2202.4226.3149.6338.5192.6

327.0442.7252.7431.5326.1

161.3153.7176.1

211.0186.5435.3269.4282.8332.0

198.7217.0236.5166.5220.2

231.5175.8258.4211.3

227.8201.8221.0236.0199.1210.4176.6180.3

161.1109.3103.3124.1104.0153.2180.3

173.5175.8

0.8

242.3217.9197.2195.1208.6186.6170.3197.1201.8

206.7208.0204.6

214.2204.7

iO. 471.502

r Revised. « See note " t " for this page. b Beginning Jan. 1978, based on CPI-U; seenote "If" for p. S-8. d" See corresponding note on p. S-8. 9 Includes data for items notshown separately. § Effective with Jan. 1976 reporting, the textile products group has been

extensively reclassified; no comparable data for earlier periods are available for the newlyintroduced indexes. t Beginning in the February 1978 SURVEY, data have been revised(back to 1973) to reflect new seasonal factors. O See corresponding note on p. b-8.

275-875 O - 78 - S2


S-10


1976

SURVEY

1977

Annual

OF CURRENT BU

1977


SLNk:ss October 1978

1978


CONSTRUCTION AND REAL ESTATE

CONSTRUCTION PUT IN PLACE %

New construction (unadjusted), total. mil. $_.

Private, total 9 doResidential (including farm) _..do

New housing units . . .doNonresidential buildings, except farm and pub-

lic utilities, total 9 . . .mil . $..Industrial doCommercial do

Public utilities:Telephone and telegraph do

Public, total 9 . - do.

Buildings (excludingmilitary) 9 . . . do . . . .Housing and redevelopment doIndustrial do

Military facilities do. . . .Highways and streets do

New construction (seasonally adjusted at annualrates), to ta l . . bil. $..

Private, total 9 do.

Residential (including farm) doNew housing units do

Nonresidential buildings, except farm and pub-lic utilities, total 9 - bil. $..

Industrial _ doCommercial do

Public utilities:Telephone and telegraph . . . d o . . . .

Public, total 9 - do.

Buildings (excluding military) 9 . .do .Housing and redevelopment do.Industrial _ do.

Military facilities.... do.Highways and streets .-do.

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... doResidential 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) . .thous..TnsideSMSA'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 (14,000 permit-issuing places):

Monthly data are seas. adj. at annual rates:Total thous..

One-family structures do

Manufacturers' shipments of mobile homes:Unadjusted thous.Seasonally adjusted at annual rates do . . .

CONSTRUCTION COST INDEXES

Dept. of Commerce composited" 1972=100..

American Appraisal Co., The:Average, 30 cities 1913=100.

Atlanta do . . .New York do . . .San Francisco do . . .St. Louis do . . .

Boeckh indexes:Average, 20 cities:

Apartments, hotels, office buildings§.1972=100..Commercial and factory buildings doResidences do.

148,778

110,46760,52047,277

26,0917,18312,756

3,777

38,311

13.480736973

1,5209,777

110,061»199

29,25480,807

30,03544,16935,857

88,457

1,547.61,048.31,537.51,162.4

1,296894

2 246.1

143.8

1,8702,0091,9431,9061,803

137.3141.5136.2

172,552

134,72480,95665,749

28,6957,71214,783

4,345

37,827

12,751959

1,1461,5179,372

139,213» 252

36,902102,310

35,29961,43342,481

91,702

1.989.81.377.91,987.11,450.9

1,6901,126

277.0

156.6

1,9982,1412.0652,0631,905

148.6152.8148.5

16,885

12, 9738,1516,586

2,684714

1,417

413

3,9131,172

77101125

1,170

176.4

137.6

82.967.1

30.08.115.7

4.5

38.8

13.0.91.41.59.5

14,231267

3,45810,772

3,7856,1484,297

7,736

194.2129.9194.0140.5

2,0381,454

1,7701,148

27.3270

157.3

2,0372,1812,1322,0821,942

16,842

12, 9227,9896,571

2, 745711

1,469

402

3,9201,230

95106135

1,069

177.8

138.3

83.067.6

30.58.116.2

4.5

39.4

13.51.01.31.59.1

13,713279

3,24910,464

3,6175,5184,578

9,091

177.8121.2177.7131.6

2,0121,508

1,6951,139

26.8300

158.8

2,0492,1902,1362,1401,946

151.5155.7152.2

16,487

12,8237,7876, 573

2,770719

1,496

413

3,6641,133

9095114

1,097

176.7

139.2

84.269.3

30.38.215.9

4.6

37.4

12.6.91.21.49.5

10,581244

2,8557,725

3,1545,4521,975

8,238

193.2130.1193.1135.4

2,1391,532

1,7811,186

27.4319

161.0

2,0512,1822,1272,1341,938

15, 730

12,4387,4316,345

2,714723

1,419

417

3,292

1,10874101113838

178.1

140.6

85.270.7

30.78.415.9

4.6

37.4

12.9.81.31.39.0

10,391258

3,1007,290

3,1075,2812,003

7,313

155.9110.0154.8109.3

2,0961,544

1,8221,218

22.6318

163.4

2,0612,1872,1292,1341,959

152.5157.5153.2

13,813

11, 0716,4425,409

2,416690

1,220

385

2,7421,016

6399118508

179.0

142.3

87.472.8

29.07.914.9

'4.5

36.8

12.4.81.11.48.5

10,445299

3,4866,959

3,3704,3052,770

12,700

129.495.3129.287.1

2,2031,574

1,7781,188

18.3318

164.8

2,0682,1872,1312,1471,967

11,462

9,2095,1704,239

2,074554

1,081

294

2,2539506396115323

171.7

135.3

79.765.0

28.47.415.0

4.7

36.4

12.7.91.21.48.4

9,390283

2,4996,891

2,8093,8842,697

6,885

88.667.588.663.3

1,5481,156

1,5261,032

18.8322

164.5

2,0882,1972,1622,1671,986

154.0158.5155.5

11,414

9,1725,1764,295

2,095565

1,097

297

2,2429455993117266

177.9

142.2

85.670.9

28.77.715.2

4.5

35.7

13.1.91.11.57.4

9,695266

2,2397,456

2,9053,8622,929

10,349

101.375.2

101.372.8

1,5691,103

1,534957

18.7265

164.5

2,0952,2472,1622,1951,990

13,386

10,7836,2255,174

2,463720

1,242

424

2,6031,055

7096119376

184.8

147.1

87.672.5

31.89.216.2

4.9

37.7

13.8.91.01.48.1

12,345254

3,1319,214

3,4296,1392,776

10,470

172.3121.6172.1121.4

2,0471,429

1,6471,037

24.5284

164.8

2,1112,2702,1742,1952,003

155.3160.9

15,126 i 16,948 '18,752

11,9667,0585,669

2,672750

1,385

417

3,1591,173

66107120548

192.9

151.3

90.074.4

33.29.2

17.2

5.3

41.5

14.8.9

1.21.58.5

13,189279

3,5949,595

3,4706,8542,864

7,014

197.5141.8197.5139.9

2,1651,492

1,7401,157

23.1252

169.2

2,1242,2832,1812,2202,029

157.5 I

13,125 '14,5117,954 ' 8,8816,366 ' 7 041

2,825735

1,524

438

3,823

1,35392

106'120

897

198.2

153.1

91.175.1

34.28.7

'18 .5

5.0

45.1'16.4

1.21.21.4

10.6

17,785332

4,09713,688

4,5387,6525,596

6,556

211.1146.2211.0154.9

2,0541,478

1,5971,058

26.5258

171.0

2,1372,2942,1912,2162,066

156.7163.0158.8

3,171966

1,627

516

' 4, 2401,375'91119113

1,067

205.8

160.6

'94.976.6

37.311.3

19.2

5.6

'45.2'16.0

1.01.31.410.3

14,169249

3,55110,618

3,7687,7222,679

8,771

216.1149.7216.0154.3

2,124

1,8211,123

26.3263

173.

2,1692,3092,2112,2302,078

19, 013

14,571' 8, 989' 7, 382

3,207'9501,661

443

4,441

1,43696114124

1,169

208.3

159. 9

'94.0'77.7

' 37.7'11.2'19.4

5.5

'48.4

'16.71.01.61.5

'9.8

14,711

3,56911,141

4,5346,7103,466

9,071

192.3131.2192.2139.3

2,1191,453

1,6321,035

20.1232

173.6

2,1802,3482,2112,2952,087

158.8165.162.0

19,614

14,8189,0937,567

3, 3081,0141,683

4,796

205.4

157.7

92.777.4

37.011.618.7

47.8

16.61.11.81.511.2

15,597289

3,85711, 740

3,9456,9104,742

9,756

192.6

192.5141.3

2,0441,454

1,5631,020

27.9283

175.5

2,2072,3662,2232,3122,102

5,882

180.8

180.2123.3

2,0731,451

1,7071,098

2,2182,3742,2292,3212,111

160.7167.5166.4

r Revised. *> Preliminary. i Computed from cumulative valuation total. 2 Un-adjusted data for Jan.-Dec. 1976 and seasonally adjusted data for Jan. 1974-Dec. 1976 will beavailable later. 3 No longer available.

tData for new construction have been revised back to Jan. 1973. The revised data areavailable from the Bureau of the Census, Washington, D.C. 20233.

©Data for Sept., Dec. 1977, and Mar., June and Aug. 1978 are for 5 weeks; other months,4 weeks.

9 Includes data for items not shown separately.cTThis index has been revised to a new comparison base (1972=100); monthly data back

to Jan. 1964 are available upon request.§These indexes are restated on the 1972=100 base; monthly data for earlier periods will be

available later.


October 1978 SURVEY OF CURRENT BUSINESS S-ll


1976 1977

Annual

1977


1978


CONSTRUCTION AND REAL ESTATE—Continued

CONSTRUCTION COST INDEXES—Con.

Engineering News-Record:Building 1967=100.Construction _. d o . , .

Federal Highway Adm.—Highway construction:Composite (avg. for year or qtr.) 1967=100..

CONSTRUCTION MATERIALS

Output index:Composite, unadjusted 9 c? 1947-49=100..

Seasonally adjustedcf do

Iron and steel products, unadjusted doLumber and wood products, unadjusted.doPortland cement, unadjusted do

REAL ESTATE1

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 b y -Fed. Hous. Adm.: Face amount. .mil. $. .Vet. Adm.: Face amount§_ __do.

Federal Home Loan Banks, outstanding advancesto member institutions, end of period mil. $ . .

New mortgage loans of all savings and loan associa-tions, estimated total mil. $ . .

By purpose of loan:Home construction .doHome purchase.. _do.All other purposes . . . d o .

Foreclosures _ number.

Fire losses (on bldgs., contents, etc.) mil. $ . .

210.9223.4

199.3

r 175.4

141.9191.2192.3

95.0

183.4

6,362.1210,414.77

15,862

78,776

14,81248,24515,719

228.6240.0

216.4

180.4

147.3199.8208.7

113.3

211.8

8,840.8413,753.02

20,173

107,368

20,71766,06020,591

3,558 3,764

229.8243.0

204.8187.5

170.5234.9272.3

10.0112

19.9209

948.091,527.21

16,369

2,0836,9441,862

234.7246.2

215.9

192.1187.9

161.1207.9250.9

9.610915.8188

715.931,541.53

17,054

9,865

1,8936,2371,735

285

239.4249.0

187.5167.5

149.4206.6' 285.5

7.9

15.8196

765.651,070.96

17,746

9,277

1,8005,6961,781

274

237.2247.6

172.8180.7

• 142.2186.7205.1

9.111715.4190

895.801,311.79

18,492

9,138

1,7805,5501,808

259

237.7248.5

233.0

163.3187.3

139.1186.5156.3

6.795

12.8205

543.881,216.71

20,173

9,233

1,7525,4482,033

322

237.7248.8

148.4156.9

124.9187 191.7

7.211615.3226

811.391,586.68

20,422

7,116

1,3804,2121,524

239.0249.6

153.6174.1

129.2186.9110.8

7.296

13.7181

785.781,411.86

20,845

1,3654,0221,442

310 379

239.5250.7

219.5

186.6193.9

161.9212.7188.1

10.411118.1191

963.101,344.91

21,278

9,419

2,1135,5021,804

385

240.0251.2

158.9194.2226.5

11.013418.9215

714.60988.96

22,957

9,027

2.0115,2611,755

370

244.6254.4

176.4209.6268.6

12.011416.3171

868.921,180.30

23,664

10,438

2,2606,4241,754

311

246.2256.3

258.1

178.6205.1297.8

9.710216.7178

805.681,108.57

25,274

11,471

2,2267,3571,848

355

251.0262.6

10.913315.4186

886.601,178.68

26,605

9,032

'1,811r 5,757" 1,464

' 351

252.3263.3

11.1124

17.7185

1,049.48131900

27,869

10,315

1,9626,7911,562

307

i 254.5266.3

8. 610214.8186

867.761,049.481,319.00 1,553.62

29,158

DOMESTIC TRADE

ADVERTISING

McCann-Erickson national advertising index,seasonally adjusted:

Combined index 1967=100..Network TV doSpot TV do. . . .Magazines.. 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 doHousehold equip., supplies, furnishings..doIndustrial materials doSoaps, cleansers, etc doSmoking materials doAllother do

Newspaper advertising expenditures (64 cities): ©Total mil. $.

Automotive.. .de-classified . . .do . . .Financial _ do._.General ,. do. . .Retail. do. . .

WHOLESALE TRADE O

Merchant wholesalers sales (unadj.), total O mil. $..Durable goods establishments ...doNondurable goods establishments do.

Merchant wholesalers inventories, book value,end of year or month (unadj.), total O mil. $_.

Durable goods establishments do.- Nondurable goods establishments do_

180191215143175

1,626.757.8

142.328.1

167.4120.7

111.083.447.025.0

161.8682.0

5,352.0127.0

1,341.8147.6731.0

3,004.6

580,894246,732334,162

62,05637,62824,429

207231223172197

1,965.469.6

176.636.2

201.8150.5

132.3112.849.533.9

194.5807.7

5,996.7154.5

1,569.6160.8803.6

3,308.0

642,104285,605356,498

68,55543,67624,879

220247246170218

122.34.69.71.4

14.110.7

6.96.02.92.2

17.846.0

472.010.9

141.39.4

54.9255.4

55,59725,99829,599

64,10542,14221,963

213231235182202

173.19.48.53.9

16.911.9

10.511.95.32.9

15.876.2

501.312.0

134.013.372.2

269.8

54,50525,46129,044

65,29142,48422,807

220254225176220

221.48.4

21.34.5

20.216.1

17.713.34.83.5

20.890.7

586.716.7

151.517.686.5

314.4

54,25125,36928,882

66,53042,62723,903

222259234182205

222.38.620.93.218.618.4

18.914.85.13.419.591.1

584.214.1128.514.581.6345.5

56,03425,34030,694

68,08243,25224,830

217237238193193

177.65.9

13.72.2

17.513.3

22.58.93.72.5

17.569.9

524.88.3

105.914.656.1

340.1

56,24424,79731,427

68,55543,67624,879

226247267182211

130.33.812.11.812.38.8

7.26.74.02.114.756.8

488.211.1142.018.467.7249.0

52,14322,86929,274

69,59644,28725,309

215234250188212

160.23.717.52.116.113.5

10.38.73.83.016.165.4

458.513.7129.711.364.4239.4

52,76623,88028,886

71,15645,75725,399

218235260191180

193.57.6

19.54.1

17.718.0

13.013.24.84.3

16.075.2

555.615.5

152.816.269.6

301.4

62,90028,98533,915

73,93147,27526,656

234261257196218

212.79.220.96.019.815.7

12.914.74.83.717.287.9

621.014.4177.519.884.4324.8

60,61328,78431,829

74,63547,95726,678

238271

197207

231.08.722.86.122.014.3

16.518.16.93.218.494.0

600.813.7165.519.280.7321.6

=66, 24930,40535,844

74,63448,91825,716

247274281216208

189.75.119.53.919.714.9

17.511.34.52.518.172.7

578.212.9165.823.373.9302.3

65,83430,99134,843

74,88249,62725,255

244267277212212

162.93.5

17.82.1

13.714.3

18.69.53.32.5

18.059.5

523.210.9

172.917.150.9

271.3

•60,651•28,701•31,950

74,87449,90024,974

257288265228236

146.96.0

13.82.4

13.913.4

11.39.83.92.8

16.353.3

488.710.8

162.78.6

47.4259.2

67,49432,18435,310

74,26949,37724,892

r Revised. v Preliminary. l Index as of Oct. 1, 1978: Building, 254.8; construction265.4. 9 Includes data for items not shown separately. § Data include guaranteeddirect loans sold.

1[ Home mortgage rates (conventional 1st mortgages) are under money and interest rateon p. S-18.

©Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart. cfMonthlyrevisions back to Jan. 1974 will be shown later.

©Beginning Nov. 1977 SURVEY, data revised to reflect new sample design, benchmarkingto the 1967 and 1972 Censuses, conversion of the classifications to the 1972 SIC, addition offarm assemblers and bulk petroleum establishments, and revision and updating of seasonalfactors. Revisions back to Jan. 1967, as well as a summary of the changes, appear in the report,Monthly Wholesale Trade: January 1967-August 1977 (Revised) available from the CensusBureau, Washington, D.C. 20233. The revisions back to 1967 also appear on p. 34ff of theMay 1978 SURVEY. « Corrected.


S-12


1976

SU1

1977

Annual

OF KKN' r BU

1977


JSlJNJb October 1978

1978


DOMESTIC TRADE—Continued

RETAIL TRADE

All retail stores: ITEstimated sales (unadj.), totalU mil. $..

Durable goods stores 9 doBuilding materials, hardware, garden supply,

and mobile home dealers 9 mil. $__Building materials and supply stores-doHardware stores do

Automotive dealers 9 - do..Motor vehicle dealers do..Auto and home supply stores do..

Furniture, home furn., and equip do.Furniture, home furnishings stores. . .do .Household appliance, radio, TV do.

Nondurable goods stores do_.General merch. group stores do..

Department stores _do_.Variety stores do..

Food stores do.Grocery stores._ do..

Gasoline service stations ._do.

Apparel and accessory stores do..Men's and boys' clothing .do.

Women's clothing, spec, stores, furriers .do.Shoe stores _ do..

Eating and drinking places do . . .Drug and proprietary stores do.._Liq uor stores -doMail-order houses (dept. store mdse.)§.-do...

Estimated sales (seas, adj.), totalif -do

Durable goods stores 9 -do. . .Building materials, hardware, garden supply,

and mobile home dealers 9 mil. $.Building materials and supply stores .do . . .Hardware stores. do . . .

Automotive dealers _ do.Motor vehicle dealers -do.Auto and home supply stores. do.

Furniture, home furn., and equip. 9—-do...Furniture, home furnishings stores..-do...Household appliance, radio, TV do. .-

Nondurable goods stores.. -do..General merch. group stores . .do. .

Department stores . .do. .Variety stores _ do.

Food stores. do.Grocery stores do.

Gasoline service stations do.

Apparel and accessory stores do . . .Men's and boys' clothing do . . .Women's clothing,spec, stores, furriers-do...Shoe stores _ do . . .

Eating and drinking places doDrug and proprietary stores do . . .Liquor stores doMail-order houses (dept. store mdse.)§-do...

Estimated inventories, end of year or month:fBook value (unadjusted), totalt . . .mil. $.

Durable goods stores 9 do. _ _Building materials and supply stores-do...A utornotive dealers doFurniture, home furn., and equip do_._

Nondurable goods stores 9 -do._.General merch. group stores.. . .do . . .

Department stores --.do_-Food stores do_.Apparel and accessory stores do...

Book value (seas, adj.), totalf . do . . .Durable goods stores 9 do . . .

Building materials and supply stores-do...Automotive dealers do . . .Furniture, home furn., and equip do.._

Nondurable goods stores 9 -do.__General merch. group stores do . . .

Department stores.. .do.Food stores doApparel and accessory stores.. . .do

642,507

210,530

32,22622,2065,659

125,685115,59610,089

31,36818,6659,784

431,97779,25862,9007,598

145,939136,10051,265

33,1886,683

12,7025,575

58,00820,71612,7346,099

76,11535,8956,08318,0316,070

40,22013,66010,0618,880

78,04536,4176,33618,1956,064

r08,344

238,815

37,95826,7066,431

143,682131,41812,264

34,49920,84310,654

469,52989,23171,5837,958

156,313145,90056,538

33,5276,694

12,8145,832

63,89122,38013,0846,751

85,14840,3726,65920,2967,197

44,77616,57112,2159,1987,282

87,07340,5346,93620,0557,190

60,702

21,182

3,6572,669556

12,71311,6411,072

2,9461,823881

39,5207,2585,837639

13,08212,2205,070

2,733495

1,038504

5,8981,8331,067

573

59,177

20,141

3,2292,287

54312,13711,1291,008

2,9201,772

7,3635,944644

13,00512,1714,712

2,782548

1,062482

5,3721,8531,067

558

82,24537,233

6,61417,5836,707

45,01217,49712,6418,7817,372

84,46239,3036,654

19,5156,741

45,15917,33512,6168,9607,306

58,341

19,551

3,5472,587

549

11,32710,2731,054

2,8421,695

885

38,7907,1435,797

589

13,19412,3494,787

2,694484

1,083520

5,4851,7941,028

549

59,412

20,161

3,2972,335

55012,09211,0111,081

2,8421,695885

39,2517,4035,952627

13,09912,2514,693

2,696530

1,064467

5,5291,892

c 1,067545

84,84337,950

6,73417,6396,973

18,41013,3418,9217,788

85,21539,5596,809

19,3416,877

45,65617,62412,8289,0027,361

41,628 46,53914,893 18,09710,960 13,3218,732 9,0537,016 7,641

r Revised. i Advance estimate. 1[Effective Nov. 1977 SURVEY OF CURRENT BUSI-NESS, estimates have been revised to reflect a new sample design, benchmarking to the 1967and 1972 Censuses, redefinition of sales to exclude sales taxes and finance charges, classifica-tions based on the 1972 Standard Industrial Classification (SIC), and revision and updatingof seasonal adjustment factors. Revisions back to Jan. 1967, as well as a summary of thechanges, appear in the report, Monthly Retail Sales: January 1967-August 1977 (Revised),available from the Census Bureau, Washington, D.C. 20233. Effective Oct. 1978 SURVEY,

60,836

20,788

3,5912,599

567

12,41811,3131,105

2,9111,761

887

40,0487,6166,179

639

13,16912,2504,856

2,891543

1,160519

5,5081,8471,067

720

60,720

20,837

3,4282,422

56612,48211,3811,101

2,9421,757918

39,8837,7166,248650

13,20312,2994,761

2,855559

1,111513

5,3841,8891,084

603

88,19439,1486,663

18,4737,105

49,04619,85214,6269,183

85,32239,5896,730

19,4046,858

45,73317,82413,0478,9687,413

61,975

20,049

3,2292,307« 555

11,55110,4481,103

3,1791,937

41,926

7,290706

13,13512,2654,721

3,166675

1,206609

5,2611,8491,106

878

61,650

20,795

3,2602,300

536

12,46011,3571,103

3,0301,833

934

40,8557,8226,306

641

13,56912,6444,798

3,027640

1,140541

5,4861,8941,106

576

90,52740,434

6,70519,5197,301

50,09320,38215,2049,1668,237

86,29940,0876,828

19,7566,973

46,21218,11613,3138,8057,536

74,219

21,228

2,9631,928648

10,9279,8121,115

3,8152,0581,328

52,99114,57211,8171,308

14,89413,7874,918

4,8991,088

1,847720

5,4912,6851,583

702

61,813

20,674

3,1492,224

51312,39311,3431,050

3,0081,807941

41,1398,2766,646

13,40612,8984,898

2,875568

1,123515

5,4692,0081,089

580

85,14840,372

6,65920,296

7,197

44,77616,57112,2159,1987,282

87,07340,534

20,0557,190

46,53918,09713,3219,0537,641

52,146

16,314

2,3041,591

9,9769,071

905

2,5131,515

770

35,832

4,325450

12,88012,0434,537

2,217458

829413

4,8571,820

945

440

59,987

19,914

3,2242,096

52912,09510,9821,113

2,7931,704

842

40,0737,4326,066

628

13,63612,7044,796

2,723533

1,017502

5,4151,9441,104609

85,09240,9276,87520,6657,116

44,16516,50212,1368,9486,982

87,70841,0607,06620,3007,269

46,64818,23713,4559,0387,581

52,479

17,230

2,4191,664387

10,7109,872

2,5231,541732

35,2495,4884,404482

12,61711,7964,313

2,080402

814364

4,7611,793

928

437

61,548

20,445

3,3822,181

520• 12,16011,1051,055

2,9211,761857

41,1037,763

660

13,90612,9774,952

2,755537

1,054485

5,5101,9571,101550

86,33341,6627,18020,9177,157

44,67116,91112,2668,9637,172

87,64241,3697,17320,2497,348

46,27318,08713,2039,0447,494

63,334

21,863

3,1162,139

503

14,00812,9401,068

2,8821,761

845

41,4717,3175,867« 643

14,33313,3744,804

2,847509

1,116555

5,6102,0101,044

598

62,649

20,897

3,3412,247

54212,64211,5641,078

2,8871,737

867

41,7527,8666,336

659

13,90012,9474,983

2,885549

1,148509

5,7721,9921,106574

89,82542,6707,35221,4247,304

47,15518,56113,6629,2807,366

89,09741,5217,16620,2697,423

47,57618,95213,9279,3177,418

62,391

22,227

3,5922,409

570

13,83212,7151,117

2,8871,830

800

40,1647,4205,987

613

13,67512,7594,787

2,729511

1,063514

5,7501,8831,087

543

63,917

21,807

3,5592,473

55613,13512,0641,071

3,0551,900

870

42,1108,0266,425

14,21813,2914,900

3,009573

1,184539

5,8081,9991,064

598

90,95343,029

7,48021,398

7,504

47,92419,35114,2839,2337,503

89,96341,881

7,26220,360

7,565

24,059

4,0272,681

624

14,83113,6981,133

3,0591,938

865

42,3097,9606,401

662

14,32813,3475,049

2,817517

1,096515

6,0552,0001,092

537

64,292

21,821

3,5182,446

55713,06912,0051,064

3,1011,915

916

42,4718,1606,538

695

14,34213,3744,916

2,953548

1,133534

5,7831,9961,117

590

91,51443,281

7,47921,381

7,519

48,23319,59914,4659,3797,486

91,06342,300

7,25420,480

7,587

67,475

24,656

4,1862,927

15,13313,9131,220

3,0911,946

888

42,4738,0496,492

14,73213,737

5,147

2,804537

1,079553

6,2512,0091,145

500

64,565

22,092

3,6192,543

56813,23212,1511,081

3,0391,873

42,4738,2156,618-•685

14,26313,324

4,930

2,924522

1,127536

5,8531,9991,138

597

91,50242,804

7,51620,959

7,493

19,77714,5559,5647,471

91,54342,0367,333

20,3297,531

65,076

22,975

' 4,012' 2 , 8 7 0

'584

13,76412,593' 1,171

'3,009' 1 , 8 6 0

'879

42,101' 7 , 4 4 3' 5,937

'637

14,80613,829' 5,173

' 2 , 6 7 4485

' 1 , 0 7 1' 5 4 7

' 6,426' 1,957' 1 , 1 8 8

' 5 0 2

64,343

• 21,844

' 3 , 6 4 1' 2 , 5 6 0

' 5 5 3• 12,774• 11,704' 1,070

' 3 , 0 5 9' 1 , 8 8 3

' 8 7 2

'42,499' 8,141' 6,531

'709

r 14,381>• 13,452' 4,803

' 2,986552

' 1,193r 501

' 5,917' 2,018' 1,137

' 6 0 7

91,32642,137

7,43920,295

7,507

49,18920,11514,5169,5417,671

92,47042,359

7,46120,3777,590

67,177

23,736

' 4,2143,075

590

13,97812,779

1,199

r 3,2001,988

924

43,441'8 ,082'6,479

685

14,66713,665' 5,253

' 3 , 0 6 6509

1,211640

' 6,492' 2,033

1,168

593

65,505

22,755

' 3,7732,658

58213,49012,347

1,143

' 3,1621,915

943

•42,750' 8,178' 6 , 5 8 4

14,398IS, 437' 4 , 8 8 7

«• 3, 111562

1,245536

' 5 , 9 4 0' 2,079

1,163576

91,36340,464

7,50718,3957,629

50,89921,13315,1479,6168,003

93,68042,6407,396

20,3947,675

51,04020,92915,1179,8227,932

64,910

22.045

» 4,169

12,536

3,087

42,86518,004*6,449

14,85113,8755,018

1 3,104

1 6,102*1,992

66,502

' 23,226

1 3,944

13,701

3.202

43,276i 8,334i 6,655

14,62213,616i 4,963

* 3,116

1 6,01812,095

48,082 48,763 49,507 50,11119,384 19,667 20,039 20,38914,254 14,465 14,807 14,8739,261 9,417 9,6417,564 7,608 7,686 7,8

seasonally adjusted data for motor vehicle dealers, total automotive dealers, total durablegoods and total retail stores have been revised back to Jan. 1977; earlier revisions are on p.56 of the Oct. 1978 SURVEY. 9 Includes data not shown separately. §Includes sale ofmail-order catalog desks within department stores of mail-order firms. -f Series revised,beginning Jan. 1967, to reflect the 1972 SIC desingations. Revised historical data appearon p. 34 ff. of the May 1977 SURVEY, C Corrected.


October 1978 SURVEY OF CURRENT BUSINESS S-13


1976 1977

Annual

1977


1978


DOMESTIC TRADE—Continued

RETAIL TRADEX—Continued

Firms with 11 or more stores:Estimated sales (unadjusted), totalX mil. $..

Durable goods stores do—Auto and home supply stores do—

Nondurable goods stores 9 doGeneral merchandise group stores do—

Department stores do—Variety stores doMiscellaneous general stores do

Food stores do.Grocery stores do.

Apparel and accessory stores 9 doWomen's clothing, specialty stores, fur-

riers. mil. $..Family clothing stores doShoe stores do

Eating places... do...Drug stores and proprietary stores do...

Estimated sales (seas, adj.), totalf9 do...Auto and home supply stores doDepartment stores do...Variety stores do...Grocery stores do...

Apparel and accessory stores do...Women's clothing, spec, stores, furriers.do...Shoe stores do...

Drug stores and proprietary stores _do...

All retail stores, accts. receivable, end of yr. or mo.Total (unadjusted) mil. $.

Durable goods stores do...Nondurable goods stores. do...

Charge accounts do...Installment accounts do

Total (seasonally adjusted) do.Durable goods stores doNondurable goods stores do.

Charge accounts do.Installment accounts do.

32,1539,51522,638

12,88919,264

30,3239,48120,842

12,59117,732

0)0)0)

»)0»)

0)0)

0)

0)

(J)0)(00)

()0)0)0)0)0)0)0)0)

34,14910,08924,060

10,65923,490

32,01810,01921,999

10,49021,528

20,255

1,558260

18,6976,4735,529

495449

6,894

1,006

416245242

1,102840

20,205245

5,630498

6,908

1,017428227844

330,181310,061320,120

3 9,720320,461

330,6333 9,872

3 20,761

3 9,729320,904

20,202

1,541249

18,6616,3815,483

461437

7,1787,097

395223258

1,010835

20,396255

5,629491

7,133

954379227887

30,48410,07420,410

9,91020,574

30,6949,775

20,919

20,891

21,037

1,607267

19,430

5,837494477

7,1437,058

1,043

433242247

1,030861

•20, 942261

5,902503

7,079

1,035425251892

30,98610,21620,770

10,11620,870

31,0769,951

21,125

9,89921,177

22,783

1,674

21,1098,092

553641

7,1537,073

1,145

463272262

999870

21,525271

5,967502

7,152

1,089443260919

31,73310,09721,636

10,20021,533

31,54710,10221,445

10,14521,402

30,601

2,207274

28,39413,14911,1651,043

941

8,1618,046

1,788

747467366

1,0501,440

21,917256

6,2»0555

7,178

1,023418243952

34,14910,08924,060

10,65923,490

32,01810,01921,999

10,49021, 528

17,556

1,162204

16,3944,7644,109

329326

7,0226,939

276163183

932862

20,703255

5,723480

7,213

925373233

32,4549,445

23,009

22,526

31,9669,790

22,176

10,28121,685

17,477

1,194190

16,2834,8754,183

359333

6,8776,792

673

287158163

921825

21,264252

5,993489

7,488

423229934

31,6929,369

22,323

9,82321,869

32,0209,838

22,182

10,34621,674

21,496

1,508262

19,9886,5115,565

493453

7,8767,776

1,032

432226279

1,122974

21,476251

5,984498

7,484

1,020439253971

31,6509,531

22,119

10,01121,639

32,2759,919

22,356

10,37121,904

20,944

lf607294

19,3376,6075,686

459462

7,4067,325

404224243

1,130894

22,24ft268

6,140517

7,760

1,077464265974

31,5999,817

21,782

10,02921,570

32,03010,01022,020

10,07721,953

22,073

1,743266

20,3307,0966,082

496518

7,6497,567

1,017

432241247

1,203950

22,222245

6,187524

7,674

1,089461274962

31,9159,963

21,952

10,17121,744

31,9509,880

22,070

9,82022,130

22,380

1,788287

20,5927,1846,176

500508

7,8787,798

1,007

422233242

1,198970

22,243246

6,232519

7,668

1,058446263975

32,21210,20322,009

10,39921,813

32,3629,93322,429

10,09722,265

21, 611

' 1, 724••267

19,887' 6, 604' 5, 649

481'474

r 7,873

*• 7, 790

'931

406'222212

1,236

22,761'256

' 6, 249540

' 7, 853

1,111474259

'994

32,14710,37521, 772

• 10,319•21,828

•32,807• 10,195•22,612

• 10, 381•22,426

22,530

1,788271

20, 7427,1926,165517510

7,7187,632

1,144

481269

1,230955

22,391254

6,272534

7,556

1,119469254953

32, 64310, 60922,034

10, 55022,093

33, 20910,42922, 780

10, 78722,422

LABOR FORCE, EMPLOYMENT, AND EARNINGS

POPULATION OF THE UNITED STATES

Total, incl. armed forces overseasf mil.

LABOR FORCEIfNot Seasonally Adjusted

Labor force, total (including armed forces), persons16 years of age and over thous

Civilian labor force ._ doEmployed, total Z — ZZZZZZZ". do

Agriculture ZZZZdoNonagricultural industries _ . do

Unemployed _ ZdoIZ"Seasonally Adjusted^

Civilian labor force._ doEmployed, total "do

Agriculture doNonagricultural industries . . do

Unemployed _ doLong-term, 15 weeks and over..ZlZIdoZI"

Rates (unemployed in each group as percentof total in the group):

All civilian workersMen, 20 years and over.'I.I.I.I ~Women, 20years and over."Both sexes, 16-19 years

WhiteBlack and otherMarried men, wife present—ZZZZI

Occupation: White-collar workersBlue-collar workers

Industry of last job (nonagricultural):"Private wage and salary workers

Construction... _""Manufacturing "_

Durable goods......... .

2215.14

96,91794,77387,4853,297

84,1887,288

2,339

7.75.97.4

19.0

7.013.14.2

4.69.4

7.915.67.97.7

2 216.82

99,53497,40190,5463,244

87,3026,855

1,911

7.05.27.0

17.7

6.213.13.6

4.38.1

7.012.76.76.2

216.99

101, 21099,07392,3153,682

88,6336,757

97,61490,7933,224

87,569

6,8211,800

7.05.17.1

17.3

6.114.33.5

4.2

7.011.46.96.3

217.16

99,81597,68491,2473,326

87,9216,437

97,75691,0883,199

87,889

6,6681,834

6.84.76.9

18.3

6.013.13.3

4.27.8

6.810.47.06.4

217.33

100,58598,45192,2303,408

88,8226,221

98,07191,3833,243

88,140

6,6881,848

6.85.06.8

17.3

6.013.73. 6

4.18.0

6.912.16.86.1

217.48

100,951G8,81992,4733,181

89,2926,346

98,87792,214

3,35788,857

6,6631,829

6.74.76.9

17.3

5.913.73.3

4.27.6

6.711.26.56.0

217.61

100,83298, 50392, 623

2,91489, 7105,880

98,91992,6093,32389, 286

6,3101,797

6.44.66.6

15.6

5.512.7

3.2

4.07.2

6.310.85.75.6

217. 74

100,07197,95091,0532,868

88,1856,897

99,10792,8813,35489, 527

6,2261,688

6.34.76.1

16.0

5.512.72.9

3.67.1

6.211.75.65.2

217.84

100,04897,92491,1852,771

88,4136,739

99,09393,0033,24289,761

1,568

6.14.55.717.4

5.311.82.9

3.57.1

6.111.55.75.0

217.94

100,56598,44391,9642,91389,0516,479

99,41493,2663,31089,956

6,1481,463

6.24.55.817.3

5.312.43.0

3.47.1

6.011.35.44.8

218.09

100,98498,86693,1803,15190,0295,685

99,78493,8013,27590,526

5,9831,384

6.04.25.816.9

5.211.82.8

3.5

5.99.55.34.4

218.22

01,42299,30993,8513,36990,4835,457

100,26194,1123,23590,877

6,1491,358

6.14.26.316.5

5.212.32.9

3.66.6

5.99.25.65.0

218. 36

104,276102,17895,8523,98391,8696,326

100,57394,8193,47391,346

5, 7541,23J

5.73.96.114.2

4.911.92.7

3.56.5

5.69.35.64.8

218. 50

104,755102,63996,2023,99792,2046,438

100,61894,4253,38791,038

6,1931,292

6.24.16.516.3

5.312.52.7

3.86.9

6.09.55.65.1

218. 67

104,169102,04796,1163,85692,2615,931

100,54994,5813,36091, 221

5,9681,215

5.94.16.115.6

5.211.7

3.57.0

5.99.15.75.5

218. 86

102,961100,83895,0413,54991,4925,797

100, 87094,8683,41191, 457

6,0021,293

6.04.06.016.6

5.311.22.7

3.57.0

5.910.75.55.0

oJoiufwf 9 A e e ^ e T o n p- S " 1 2 ; revised data for periods prior to May 1977 are notavailable. 2 As of July 1. 3 Beginning Aug 1977, data reflect use of new sampleand are not strictly comparable with those for earlier periods; see note "H" for p. S-12.

+PPJ!°- I °??-S^12' 9 deludes data for items not shown separately.TKevisions back to Oct. 1973 appear in "Population Estimates and Pojections: Estimates

of the Population of the United States and Components of Change—1930-75," P-25, No. 632(July 1976), Bureau of the Census.

H Effective with the Feb. 1977 SURVEY, the labor force series reflect new seasonal factors.Data have been revised back to 1972; comparable monthly figures for 1972-75 appear in E M -PLOYMENT AND EARNINGS (Feb. 1977), U.S. Department of Labor, Bureau of Labor Statistics.

« Corrected.


S-14 SUEVEY OF CURRENT BUSINESS October 1978


1976 1977

Annual

1977


1978

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

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

EMPLOYMENTfOEmployees on payrolls of nonagricultural estab.:O

Total, not adjusted for seasonal variation..thous..Private sector (excl. government) do

Seasonally Adjusted!

Total employees, nonagricultural payrollsfOdoPrivate sector (excl. government) _._do

Nonmanufacturing industries doGoods-producing do

Mining doContract construction __do

Manufacturing doDurable goods. _do

Lumber and wood products doFurniture 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 prod.© doMiscellaneous manufacturing do

Nondurable goods.. doFood and kindred products doTobacco manufactures doTextile mill products doApparel and other textile products..doPaper and allied products _doPrinting and publishing doChemicals and allied products doPetroleum and ccal products doRubber and plastics products, nee..doLeather and leather products do

Service-producing doTrans., comm., electric, gas, etc .doWholesale and retail trade do

Wholesale trade doRetail trade ._ do

Finance, insurance, and real estate doServices _ .doGovernment do

Federal.. . doState and local _ .do

Production or nonsupervisory workers on privatenonagric. payrolls, not seas, adjusted©.thous...

Manufacturing do

Seasonally Adjusted!

Production or nonsupervisory workers on privatenonagricultural payrolls!-- thous..

Goods-producing doMining doContract construction do

Manufacturing doDurable goods do

Lumber and wood products doFurniture 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 prod.© doMiscellaneous manufacturing do

Nondurable goods doFood and kindred products doTobacco manufactures doTextile mill products doApparel and other textile products.__doPaper and allied products doPrinting and publishing doChemicals 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

W holesale trade doRetail trade do

Finance, insurance, and real estate doServices do

r Revised. P Preliminary. ©See end of notef for this page.fData have been revised to conform to the 1972 Standard Industrial Classification and

adjusted to March 1977 benchmark levels; consequently they are not comparable with pre-viously published data. For a discussion of the effect of these revisions, see "BLS Establish-ment Estimate Revised to Reflect New Benchmark Levels and 1972 SIC," in the October 1978

' 79,38264,511

' 79,39264,51145,51423,352

7793,576

18,99711,077

680444644

1,1551,5112,0651,7741,799

575429

7,9201,689

77919

1,318676

1,0991,042

198640263

56,0304,582

17, 7554,546

13,209

4,27114,55114,8712,733

12,138

r 52,89713,638

r 52,89717,044

5922,814

13,6387,914

576364514904

1,1391,3401,1601,235

353329

5,7241,145

64800

1,134508625600128493227

35,8533,918

15,6493,746

11,9043,243

13,043

r 82,25667,177

* 82,25667,17747,53024,289

8093,833

19,64711,573

722463668

1,1791,5772,1791,8681,862

615439

8,0741,703

74914

1,312693

1,3381,071

202712253

57,9684,696

18,4924,697

13,795

4,45215,24915,0792,727

12,352

r 55,04014,110

r 55,04017, 729

6153,004

14,1108,291

616381533920

1,1941,4251,2271,284

375335

5,8191,154

60795

1,126519644615131557217

37,3113,993

16,2973,869

12,4273,385

13,636

r 82,55668,172

r 82,60367,46447,76724,376

7953,884

19,69711,621

721463670

1,1771,5862,2031,8821,865

618436

8,0761,700

71913

1,311697

1,1431,074

203713251

58,2274,698

18,6074,720

13,887

4,46815,31515,1392,730

12,409

r 55,88314,268

r 55,26217,779

6013,049

14,1298,320

616381536916

1,1991,4471,2351,284

375331

5,8091,149

57793

1,124523646614132556215

37,4833,990

16,4003,885

12,51".3,397

13,690

T 83,45268,556

' 82,97367,76948,05424,441

8303,896

19,71511,639

730465672

1,1821,5802,2041,8811,868

620435

8,0781,700

72912

1,313695

1,1451,073

204714250

58,5324,727

18,6724,736

13,936

4,48715,44215,2042,725

12,479

r 56,23614,464

' 55,51317,826

6333,052

14,1418,330

624382537921

1,1951,4421,2351,288

377329

5,8111,150

57794

1,124521647615133556214

37, 6874, 015

16, 4453,900

12,5453,411

13,816

r 83,89168,560

r 83,19967,97948,21024,507

8333,905

19, 76911,693

736471673

1,1821,5972,2191,8911,867

620437

8,0761,682

72914

1,314694

1,1481,073

204720255

58, 6924,721

18,7334,745

13,988

4,50815,51015,2202,728

12,492

' 56,24114,396

r 55,66017,874

6353,062

14,1778,371

630387534922

1,2101,4551,2431,281

378331

5,8061,131

57795

1,125520650614134562218

37, 7864,009

16,4963,908

12, 5883,425

13,856

' 84,27668,786

r 83,54968,28648,43724,617

8403,928"

19,84911,746

745475680

1,1801,6082,2321,9031,860

623440

8,1031,693

71918

1,318693

1,5121,073

205726254

58,9324,736

18,8304,761

14,069

4,53515,56815,2632,727

12,536

r 56,44914,387

' 55,96917,985

6393,083

14,2638,429

639391544921

1,2211,4621,2521,284

380335

5,8341,142

57800

1,130519651614134569218

37,9844,015

16,6073, 925

12,6823,445

13,917

r 84,46468,982

' 83,71968,45148,46724, 626

6873,955

19,98411,851

756481685

1,1801,6172,2511,9121,895

628446

8,1331,700

74917

1,320697

1,1561,076

206734253

59,0934,749

18,9114,783

14,128

4,54715,61815,2682,723

12,545

•• 56,61214,378

r 56,09517,976

5023,099

14,3758, 515

646397549922

1,2281,4771,2581,312

384342

5,8601,151

59798

1,131523653617135575218

38,1194,024

16, 6763,943

12,7333, 453

13, 966

' 82,72467,372

r 83,87168,55748,49224,648

6783,905

20,06511,917

754484689

1,1861,6252,2591,9231,917

632448

8,1481,706

74917

1,318699

1,1591,079

207707252

59,2234,758

18,9914,802

14,189

4,56315,59715,3142,736

12,578

' 55,02814,237

r 56,11417,954

4933,021

14,4408, 569

650399553929

1,2341,4831,2671,326

386342

5,8711,156

59799

1,132523656618136576216

38,1604,028

lfi,7373, 958

12,7793,472

13,923

' 82,96267,363

r 84,18868,83848,69924, 724

6843,901

20,13911,986

756487691

1,1931,6382,2711,9351,928

635452

8,1531,705

74917

1,315699

1,1631,081

208738253

59,4644,782

19,0714,828

14,243

4,59115,67015,3502,736

12,614

r 54,98414,250

r 56,34818,016

4943,023

14,4998,620

650401551937

1,2471,4931,2761,332

388345

5,8791,158

59798

1,131525658620136578216

38,3324,044

16,8123,982

12,8303,494

13,982

r 83,89768,171

r 84,72669,29149,06124,927

6983,999

20,23012,041

752491692

1,1891,6392,2891,9511,944

639455

8,1891,718

76916

1,319703

1,1711,081

209744252

59,7994,817

19,1694,854

14,315

4,60515,77315,4352,739

12,696

r 55,71614,355

r 56,74418,198

5093,122

14,5678, 661

647405552933

1,2471,5071,2881,342

391349

5,9061,168

60798

1,134527663620137583216

38,5464,067

16,8944,007

12,8873, 500

14,085

r 85,07569,309

r 85,41869,90149,61925,313

8674,164

20,28212,076

751491699

1,1921,6462,3091,9511,936

644457

8,2061,715

74911

1,330706

1,1741,085

210748253

60,1054,847

19,2524,872

14,380

4,62315,86615,5172,745

12,772

r 56,76114,444

' 57,26318, 541

6553,288

14,5988,676

646405558934

1, 2511,5171,2841,337

394350

5,9221,167

59794

1,144530664624137586217

38,7224,094

16,9524,020

12,9323,516

14,160

r 85,79669,988

' 85,61870,05649,75925,341

8694,175

20,29712,093

745489700

1,1971,6522,3111,9521,942

649456

8,2041,701

75913

1,326709

1,1801,093

207747253

60,2774,847

19,3354,885

14,450

4,63715,89615,5622,753

12,809

T 57,35814,534

r 57,42818,565

6593,303

14, 6038, 685

639404557939 •

1,2571,5161,2831,344

397349

5,9181,154

60795

1,140535668

• 628135586217

38,8634,086

17,0794,026

13, 0533, 523

14,175

' 86,80071,109

T 85,99670,39950,08325,473

8794,278

20,31612,109

747486701

1,1971,6452,3321,9621,929

654456

8,2071,702

76908

1,325709

1,1861,091

209749252

60,5234,881

19,4124,905

14,507

4,67015,96315,5972,772

12,825

r 58,28914,737

r 57,65318,660

6633,401

14,5968,683

641400558939

1,2501,5331,2841,327

402349

5,9131,152

61792

1,137535668628136587217

38,9934,109

17,1064,043

13,0633,540

14,232

*• 85,92570,996

r 86,03370,47650,17425,501

8824,317

20,30212,138

743485698

1,1991,6432,3451,9771,937

660451

8,1641,688

73909

1,307710

1,1871,091

207749243

60,5324,827

19,4694,901

14,568

4,69045,98915,5572,765

12,792

r 58,12014,476

r 57,70418,675

6673,439

14,5698,694

637398554942

1,2451,5471,2931,328

407343

5,8751,142

58791

1,121535669628135587209

39,0354,051

17,1654,040

13,1253, 565

14,254

' 86,15571,374

' 86,16470,60550,33325,453

8864,295

20,27212,143

743481690

1,2031,6432,3541,9751,943

662449

8,1291,666

68900

1,309698

1,1911,091

208746250

60,7114,844

19,5254,905

14,620

4,71116,07215,5592,765

12,794

" 58,41214,672

r 57,74018,607

6673,415

14,5258,692

635394548946

1,2421,5471,2931,339

406342

5,8331,121

53783

1,125521670624136584216

39,1334,062

17,2134,038

13,1723, 581

14,280

r 86,61871,455

86,10670,63050,34825,442

8854,275

20,28212,167

742479690

1,2171,6462,3551,9751,949

665449

8,1151,664

69907

1,310695

1,1811,088

209742250

60,6644,852

19,5094,971

14,588

4,72316,10415,4762,76612,710

58,48714,876

57,71918,607

6693,397

14,5418,708633393546955

1,2451,5491,2901,344410343

5,8331,125

55791

1,120520661623137581214

39,1124,06417,1794,05613,1233,59114,278

issue of Employment and Earnings, available from the U.S. Government Printing Office,Washington, D.C. 20402.

©Effective October 1978 SURVEY, includes data formerly shown separately under ord-nance and accessories.


October 1978

Unless otherwise stated in footnotes below, data-through 1974 and descriptive notes are as shown inthe 1975 edition of BUSINESS STATISTICS

1976

SUB

1977

Annual

OJb' UUKJ 1 BVl

1977


SJLJNE S-151978

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


AVERAGE HOURS PER WEEKf

Seasonally Adjustedf

Avg. weekly hours per worker on private nonagric.payrolls-.^ Seasonally adjusted! hours.

Not seasonally adjusted do . . .Mining do. . _Contract construction do. -.Manufacturing: Not seasonally adjusted do. . .

Seasonally adjusted do. -.Overtime hours do. . -

Durable goods do_.Overtime hours do.

Lumber and wood products do.Furniture and fixtures do.Stone, clay, and glass products do.Primary metal industries do.Fabricated metal products© do.

Machinery, except electrical do.Electrical equipment and supplies do_Transportation equipment© do.Instruments and related products© do.M iscellaneous manufacturing ind do.

Nondurable goods do.Overtime hours do.

Food and kindred products do.Tobacco manufactures do.Textile mill products do.Apparel and other textile products do.

Paper and allied products do.Printing and publishing do.Chemicals and allied products do.Petroleum and coal products do .Rubber and plastics products, nee do_Leather and leather products do.

Trans., comm., elec, gas, etc do.Wholesale and retail trade do.

Wholesale trade do.Retail trade do.

Finance, insurance, and real estate do,Services do.

AGGREGATE EMPLOYEE-HOURS

Seasonally Adjusted

Employee-hours, wage & salary workers in non-agric. establish, for 1 week in the month, season-ally adjusted at annual ratef bil. hours..

Total private sector doM ining doContract construction doM anufacturing doTransportation, comm., elec, gas doWholesale and retail trade doFinance, insurance, and real estate doServices do

Government do

Indexes of employee-hours (aggregate weekly) :1ffPrivate nonagric. payrolls, total 1967=100..

Goods-producing doMining doContract construction doM anufacturing do

Durable goods doNondurable goods do

Service-producing doTransportation, comm., elec, gas doWholesale and retail trade do

Wholesale trade doRetail trade do

Finance, insurance, and real estate doServices do

HOURLY AND WEEKLY EARNINGS

Average hourly earnings per worker:lfNot seasonally adjusted:

Private nonagric payrolls dollars. .Mining doContract construction doManufacturing do.

Excluding overtime do.Durable goods do.

Excluding overtime do.Lumber and wood products doFurniture and fixtures doStone, clay, and glass products doPrimary metal industries do.Fabricated metal products© doMachinery, except electrical doElectrical equipment and supplies.doTransportation equipment© do.Instruments and related prod.© doMiscellaneous manufacturing ind--do

36.142.436.840.1

40.6

39.938.841.140.840.8

41.240.041.740.338.8

39.43.0

40.537.540.135.8

42.537.541.642.140.737.4

33.738.732.136.433.3

151.39122.09

1.746.93

39.319.36

31.028.21

25.5129.30

••4.866.467.705.22

5.58

4.723.995.336.775.495.784.966.624.934.04

36.043.436. 540.3

41.0

39.041.341.341.0

41.540.442. 540.638.8

39.43.2

40.037.940.435.6

42.937.741.742.741.036.9

39.933.338.831.636.433.0

156. 60126. 74

1.917.36

40.729.76

31.788.58

26.6329.87

'5.246.948.095.67

6.06

5.094.345.807.405.906.255.397.285.294.36

'35.936.343.636.140.340.33.4

41.03.6

39.339.041.341.341.0

41.540.642.540.638.7

39.33.1

39.838.040.235.5

42.637.541.842.840.837.0

39.833.238.731.536.433.0

156.99126. 72

1.887.39

40.779.53

31.848.63

26.6730.27

115.7100.2131.1106.698.099.096.6

126.4105.6122.9120.8123.7131.7139.3

'5.25

8.115.69

6.C

5.154.405.887.555.936.285.447.245.324.36

36.143.636.240.740.33.4

41.13.640.139.141.041.240.9

41.740.542.840.638.9

39.33.139.638.340.235.4

42.837.941.742.640.737.1

39.833.238.831.536.433.0

157.14127.091.977.3740.869.5831.948.6526.7330.05

116.3100.7138.1107.098.299.496.6

127.1106.1123.3121.6124.0132.3140.6

'5.357.138.265.79

6.18

5.244.435.917.646.016.385.517.375.374.41

'36.136.143.736.340.640.53.5

41.23.840.139.541.041.541.0

41.940.542.940.838.9

39.43.139.738.140.635.6

42.837.941.742.940.837.2

39.833.438.931.736.533.2

158.69128.061.997.4841.099.5232.208.7227.0630.63

117.0101.2138.8107. 698.8

100.196.8

128.0105.9124.3122.2125.2133.2141.8

'5.397.148.295.82

6.22

5.264.445.947.656.056.455. 527.545.384.42

' 36.035.943.736.440.740.53.6

41.23.840.039.541.541.541.0

41.940.542.640.638.9

39.53.240.138.540.735.8

42.837.841.742.840.837.4

40.233.138.831.436.433.0

158.10128. 372.007.58

41.189.7132.108.7727.0329.72

117.4102.0139.7108.799.5100.897.6

128.1107.2124.2122.4124.9133.6141.6

' 5.407.198.265.85

6.25

5.254.475.987.716.086.465.557.575.434.47

'35.936.242.936.241.140.53.6

41.23.840.039.641.341.641.2

41.9,40.541.540.538.6

39.43.339.938.040.535.9

42.937.641.743.440.637.0

40.033.138.831.436.433.0

158.94128. 741.627.55

41.549.7232.328.7827.2030 20

117.5101.6107.8108.6100.2101.797.9

128. 5106.9124.7123.0125.4133.9142.1

'5.406.778.295.92

6.33

5.274.516.007.766.126.545. 657.675.514.54

rS5.535.142.834.339.239.83.5

40.43.7

39.338.440.041.440.3

41.139.741.640.438.0

38.83.239.737.640.333.7

42.537.441.643.140.236.5

40.032.738.730.936.333.0

157.64127.471.587.05

41.089.5832.068.7927.3430.17

116.299.3105.6100.398.9100.596.5

127.9107.0123.7123.1123.9134.3141.7

'5.476.918.345.97

6.35

5.394.556.047.866.116.535.667.595.544.58

-•35.735.343.235.639.640.13.7

40.74.039.640.040.941.640.7

41.840.040.940.638.3

39.13.339.738.340.335.5

42.537.441.642.839.836.4

40.132.738.730.936.332.9

158. 96128.461.617.33

41.549.7732.128.8227.2630.51

117.1100.9106.8104.2100.1101.997.4

128.4107.7124.2123.9124.4135.1141.8

' 5 . 4 96.93

5.98

~6.~37

5.394.556.047.966.136.595.687.605.594.57

' 3 6 . 035.843.736.940.440.6

3.7

41.33.9

39.940.141.841.541.3

42.340.642.141.339.0

39.73.3

40.038.940.836.0

43.438.042.143.340.737.1

40.433.038.931.236.333.0

160.94130.41

1.687.72

42.159.87

32.498.92

27.5830.53

119.1103.6111.3111.5102.0103.999.2

129.8109.1125.9125.3126.1135.4143.3

'5.526.958.406.00

6.40

5.404.566.087.946.196.615.687.695.604.60

-•36.135.844.037.340.440.83.8

41.44.0

40.240.142.041.541.4

42.340.442.441.439.1

39.83.4

40.138.740.936.3

43.537.942.043.641.338.1

40.033.039.031.236.733.0

162.93131.01

2.078.24

42.379.83

32.728.99

27.7930.92

' 120.4106.0144.2118.8102.5104.299.9

130.5108.7126.4126.0126.6137.5144.1

'5.597.628.396.03

6.44

5.434.596.187.986.256.615.707.745.624.63

'35.935.743.436.640.440.43.5

41.03.7

39.539.441.641.741.1

42.140.241.840.838.8

39.53.2

39.838.740.535.9

42.937.341.942.941.137.6

40.232.938.731.136.332.9

162.53131.61

2.068.13

42.269.88

32.658.94

27.6830.92

' 120.0105.1143.1117.1101.6103.5

130.5109.0126.8125.2127.3136.2143.8

'5.627.648.526.07

6.47

5.494.616.258.046.276.635.737. 755. 654.64

'35 .936.243.437.340.840.53.6

41.23.7

40.039.541.941.841.0

42.340.242.040.838.8

39.43.1

39.639.640.335.8

42.937.541.943.441.137.4

40.132.838.831.036.532.8

163.50132.58

2.088.50

42.379.88

32.919.02

27.8330.92

• 120. 6106.0144.0122.8101.7103.898.7

130.7109.4126.8126.1127.0137.9143.9

' 5. 657.698.566.115.856.526.235.664.666.338.106.296.705. 757.815.654.66

' 35.936.343.037.340.340.53.6

41.23.8

39.839.341.741.841.0

42.240.742.140.738.8

39.43.239.838.640.235.8

42.937.641.843.940.937.2

39.632.938.731.136.632.8

163.47132.541.998.3942.539.9333.418.9427.3530.92

• 120.6106.1143.5124.2101.6104.098.1

130.7106.5127.4125.7128.0139.0144.1

' 5.697.828.636.175.926.576.295.714.686.378.196.326.735.837.845.704.70

'35.836.243.237.140.440.43.5

41.03.7

39.338.941.542.140.9

41.940.442.040.8

39.43.239.737.540.435.6

42.837.541.844.140.937.3

39.932.838.830.936.532.7

162.97132. 31'2.01'8.28' 42. 26' 10.05'33.38'8.94' 27.39' 30.66

• 120.4105.4144.2122.7101.0103.697.2

130.8107.6127.2125.9127.7139.2144.0

'5.707.798.716.165.906.576.285.674.726.398.286.356. 755.877.795.754.71

'35.835.942.636.940.740.43.6

41.13.839.438.941.441.640.9

42.140.242.641.0

39.33.239.737.640.335.6

42.637.641.743.641.137.3

40.032.738.730.936.532.9

162.68132.301.968.1942.2610.0833.348.9727.5030.38

' 120.5105.3142.6121.4101.2103.997.2

131.0107.9126.9126.2127.2139.6144.8

'5.807.998.846.285.986.716.385.714.766.448.386.476.895.958.045.814.74

Revised. p Preliminary. 1f Production and nonsupervisory workers.T bee corresponding note., p. S-14. © See corresponding note, p. S-14.


S-16 SUEVEY OF CURRENT BUSINESS October 1978


1976 1977

Annual

1977


1978

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

LABOR FORCE, EMPLOYMENT,

HOURLY AND WEEKLY EARNINGS—Con.

Avg. hourly earnings per worker, private nonagric.payrolls. Not seas. adj. %— Continued

M anuf acturing—ContinuedNondurable goods dollars..

Excluding overtime - doFood and kindred products doTobacco manufactures doTextile mill products - doApparel and other textile products...doPaper and allied products doPrinting and publishing . . .doChemicals 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


Finance, insurance, and real estate. doServices do .

Seasonally adjusted:!Private nonagricultural payrolls . . do

Mining doContract construction doManufacturing . . . .do -Transportation, comm., elec, gas doWholesale and retail trade doFinance, insurance, and real estate doServices do

Indexes of avg. hourly earnings, seas, adj.: \ tPrivate nonfarm economy:

Current dollars . . . 1967=1001967 dollars A do

Mining. . doContract construction . . do. . .Manufacturing doTransportation, comm., elec, gas . . . do . . .Wholesale and retail trade doFinance, insurance, and real estate doServices... . . . . . do

Hourly wages, not seasonally adjusted:Construction wages, 20 cities (ENR): cT

Common labor.. . $ per hrSkilled labor.. d o . . . .

Farm (U.S.) wage rates, hired workers, bymethod of pay:

All workers, including piece-rate $ per hr . .All workers other than niecp-ratp do

Workers paid per hour, cash wages only, do

Avg. weekly earnings per worker, f private nonfarm:fCurrent dollars seasonally adjusted1967 dollars seasonally adjusted ASpendable earnings (worker with 3 dependents):

Current dollars seasonally adjusted1967 dollars seasonally adiusfpd A

Current dollars, not seasonally adjusted:Private nonfarm, total ..dollars..

Mining _ . . doContract construction . doManufacturing do

Dnrablp poods doNondurable goods do

TransDortation comm PIPO pas doWholesale and retail trade do


Finance insurance and real pstatp doServices * do

HELP-WANTED ADVERTISING

Seasonally adjusted index 1967=100

LABOR TURNOVER

Manufacturing establishments:Unadjusted for seasonal variation:

Accession rate, totalmo. rate per 100 employees.

New hires doSeparation rate, total . . . _. do . .

Quit doLayoff do

Seasonally adjusted:Accession rate total do

New hires doSeparation rate total do

Quit doLayoff do

WORK STOPPAGES 0

Industrial disputes:Number of stoppages:

Beginning in month or year .number.In effect during month do

Workers involved in stoppages:Beginning in month or year thousIn effect during month do

Days idle during month or year. . d o . . .

' 4 .70

4.974.993.693.405.475.715.917.214.653.406.463.975.183.574.274.31

'4 .866.467.705.226.463.974.274.31

183.0107.3198.6184.7184.6196.7176.1169.9183.9

8.9311.85

2.662.612.812.65

6.929

95

3.92.63.81.71.3

5,648

2,420

37,859

'5 .10

5.375.623.983.625.966.116.437 825.173.616.994.275.393.854.544.65

'5 .246.948.095.676.994.274.544.65

196.8108.4214.8194.3199.4213.2189.5180.7197.9

9.4612.56

2.872.823.062.90

7.481

' 188. 64301.20295.29228.50248.46200.94278.90142.19209.13120.11165.26153.45

118

4.02.83.81.91.2

5,600

2,300

36,000

'5 .14

5.395.594.073.616.046.156.497.825.183.597.044.275.413.854.544.61

'5 .277.018.115.726.994.304.554.68

198.3108.3216.8194.5201.2213.2190.8181.4198.7

9.6412.75

189.19103.33

172.8694.41

190.58300.76200.26229.31248.67203.54283.01145.18210.45122.15165.71154.44

122

5.23.95.13.11.0

' 3 . 72.73.91.81.3

'481930

200335

3,995

'5.20

5.455.534.103.686.116.226.567.885.213.647.144.345.473.904.584.71

••5.317.088.155.777.084.334.594.70

199.6108.6218.4195.3202.4216.2191.9182.6199.9

9.6812.85

190.63103. 72

173.9994.66

193.14314.43303.14235.65255. 85205.92284. 89144.09212. 24122.85166. 25154.96

120

4.63.54.82.81.1

' 3 . 92.73.81.91.1

'485923

152278

3,085

'5 .21

5.445.484.103.696.146.246.627.915.223.667.224.375.533.924.644.76

'5 .367.168.195.827.164.364.644.75

201.5109.2220.9196.3204.0218.8193.5185.1202.2

9.6812.87

2.992.923.243.08

193. 50104.93

176.2495. 57

194. 58317.02308.39236.29256.89206.32287. 36145.08215.67122.36169.36157. 56

128

3.82.93.81.91.1

' 4 . 02.83.71.91.1

'408822

157290

3,347

AND

' 5 .24

5.535.714.123.716.176.266.667.915.253.687.254.385.553.944.634.78

'5 .397.188.205.857.124.394.664.76

202.4109.3221.2196.7205.3220.2194.6185.4202.6

9.6912.90

194.04104.77

176.6795.39

193.56317.80298.19238.10258. 75208.03291.45144.10215.34123.00168.53157.26

133

3.02.23.31.51.1

' 4 . 12.93.92.01.0

'335719

80233

3,158

\ EARNINGS—Continued

' 5 .30

5.605.804.143.766.206.276.728.005.293.697.294.385.613.934.674.80

'5 .416.758.245.887.284.424.684.78

203.5109.4217.2197.4206.5222.1195.9186.0203.5

9.7412.94

7 658

194. 22104.42

176.8195.06

195.48289.08299.27243.31265.86211.47293.06146.29218. 79123.70169. 99158.40

140

2.31.53.31.21.4

' 4 . 43.33.92.01.0

' 133485

200308

5,029

'5 .38

5.636.034.173.856.276.336.788.415.343.807.344.545.674.104.764.89

'5 .466.848.305.937.344.514.724.86

206.0206.6208.3210.3211.0212.3214.1214.2215.4

9.7713.01

3.183.133 403.18

193.83103.38

173.2792.41

192.00289.53275. 22234.02252. 73205. 52289.20146.19217. 73120. 08173.26160.39

138

3.72.43.51.51.2

' 4 . 23.13.82.0

.9

271304

87318

4,689

'5 .38

5.686.064.163.856.326.346.828.575.333.847.374.545.664.104.764.91

'5 .496.928.355.987.384.504.714.87

109.9109.5109.5109.6109.0108.7109.0108.5108.3

9.7813.03

195.99103. 86

174.9392.70

193.80297.30287.87236.81256. 71208. 21294. 80146.64217. 34122. 36173. 26160. 56

139

3.22.23.11.4

.9

' 4 . 03.03.82.0.9

267449

70329

4,221

'5 .39

5.696.304.173.896.326.376.838.505.323.867.344.565.694.114.764.91

'5 .546.948.476.017.404.554.754.90

219.7221.0222.5237.1237.3239.8244.3244.5248.5

9.8213.04

'199.44104.86

177.5293.33

'197.62301.63304.92242.40263.04212.37294.33149.11220.20122.88172. 79161. 05

141

3.72.63.51.8. 9

' 3 . 93.03.82.01.0

349527

126367

4,290

'5 .42

5.736.334.173.916.336.376.878.535.363.877.454.605.784.144.844.95

'5 .617.638.476.057.494.604.844.95

198.8200.1203.0203.5206.0207.6207.9209.0209.1

9.8313.04

3.093.053.223.08

202.52105.59

179.8393.76

200.12332.23310. 43243. 61265. 33213. 55296.51150. 42224. 26127. 26177.14162. 36

146

4.02.93.52.0

.7

' 4 . 23.14.02.2.9

460670

132190

2,055

'5 .44

5.756.414.193.896.376.386.938.525.433.887.454.615.784.154.854.95

'5 .627.668.596.087.504.604.844.94

208.1209.4211.0212.2213.5214.7216.7217.5218.6

9.8713.09

201. 76104.21

179.2692.59

'200.63331. 58312.68245. 23265. 27213.79297.26150.75223. 69133.57176.06161. 37

144

4.73.63.62.1

.7

' 4 . 03.03.92.11.0

171307

3,072

'5 .485.265.756.614.203.926.516.426.968.525.473.897.474.625.814.164.894.93

'5 .667.718.656.127.524.634.894.96

223.8224.9225.6228.4229.2229.6230.4229.3230.6

9.9613.19

'203.19104.04

180.3392.33

'204.53336.05324.42249.29270. 58217. 56301.04153. 38226. 59127.40178.49162. 69

147

' 4 . 8' 3 . 8

3.82.2

.7

' 3 . 93.04.02.11.0

545859

130228

2,724

'5 .575.355.806.584.323.926.636.477.058.585.513.897.534.665.914.194.934.95

'5 .717.858.666.187.534.674.955.01

199.9199.7201.5203.5204.0205.2207.6207.9209.1

10.2613.55

2.932.903.063.00

'204.99104.43

181.6892.55

'206.55337.82329. 67248.65268.71220.02301.20157.04230.49134.08180. 93164.84

'150

4.43.24.12.11.1

' 3 . 82.93.92.0.9

463810

211338

2,995

'5 .555.335.806.284.383.936.586.507.038.595.533.897.574.665.914.184.894.94

'5 .727.888.716.207.524.694.905.02

187.7187.3188.9192.3192.4194.6196.9195.3196.8

10.2713.61

'204.78103.74

181.5291.96

'206.34334.97330.11248.86268.71219.78305.07156.11230.49132. 92178.97164.01

151

5.34.15.23.4

. t

3.82.83.71.9.9

435774

176333

4,141

'5 .615.375.866.094.414.016.656.557.108.655.593.947.614.725.984.234.945.04

'5 .757.938.726.257.554.714.955.03

207.0206.8208.7210.5210.4211.5213.2213.2214.1

10.3813.66

'205.85103.55

182.3291.71

'203.22344.37330.62255. 60277. 79222.72305.16154.34231.43130. 71179.82165. 31

152

4.83.84.83.0

. 8

4.13.03.72.0

.8

494785

160603

4,421

'Revised. »Preliminary. 1f Production and nonsupervisory workers. QTheindexes exclude effects of changes in the proportion of workers in high-wage and low-wageindustries, and the manufacturing index also excludes effects of fluctuations in overtimepremiums; see note " § , " p. S-15. AEarnings in 1967 dollars reflect changes in purchasing

power since 1967 by dividing by Consumer Price Index; effective Feb. 1977 SURVEY, datareflect new seas, factors for the CPI. fSee corresponding note on p. S-14. cfWages as ofOct. 1, 1978: Common, $10.33; skilled, $13.68. ©Revisions for 1975 are in the July 1976SURVEY.


October 1978


1976

SUJ:

1977

Annual

IVEY OF (JUKREN' r BU

1977


S1JNH S-171978



UNEMPLOYMENT INSURANCEUnemployment insurance programs:

Insured unemployment, all programs, averageweekly §9 thous..

State programs (excl. extended duration prov.)Initial claims thous..Insured unemployment, avg. weekly.._do

Percent of covered employment: AUnadjustedSeasonally adjusted

Beneficiaries, average weekly thous.Benefitspaid I mil. $..

Federal employees, insured unemployment,average weekly thous.

Veterans' program (UCX):Initial claims doInsured unemployment, avg. weekly.._doBeneficiaries, average weekly doBenefits paid mil. $ -

Railroad program:Applications thous.Insured unemployment, avg. weekly...doBenefits paid mil. $..

3,846

20,0652,991

4.6

2,4508,974.5

50

4019898

593.0

11527

134.8

3,304

19,4882,647

3.9

2,178B, 773.0

46

3548078

341.5

10421

99.8

2,751

1,4672,322

3.44.1

1,933671.3

347472

28.2

1318

5.9

2,643

1,2292,089

3.14.1

1,693565.2

38

316965

25.0

1020

5.5

2,649

1,3502,071

3.04.0

1,613584.2

40

286764

23.1

720

7.4

2,853

1,5822,274

3.33.9

' 1,741599.5

41

266764

24.7

3,226

2,0102,644

3.93.7

2,011703.0

42

276866

25.6

1225

9.7

3,780

2,2723,191

4.63.6

2,520910.2

46

256971

26.0

1340

13.1

3,638

1,6923,273

4.73.6

2,753919.2

42

236965

22.6

1241

16.9

3,212

1,4422,901

4.23.5

2,6151,002.0

38

235960

24.5

735

18.4

2,659

1,2112,379

3.43.1

2,140• 704. 6

32

185255

'19.7

322

10.4

1,2292,051

2.93.1

1,724638.9

29

204747

19.2

213

5.3

2,297

1,349• 1, 962

2.83.1

' 1, 653•579.0

234546

18.2

115.9

2,581

'1,6802,265

3.23.4

'1,680' 557.8

31

2449

'4617.8

1616

3.9

2,394

P 1,3812,168

3.03.6

p 1,811p 659.2

32

5054

22.7

2833

1.6

*2,063

p 1,859

»2.6

31

FINANCE

BANKINGOpen market paper outstanding, end of period:

Bankers' acceptances mil. $..Commercial and financial co. paper, total-.do

Financial companies doDealer placed doDirectly placed do

Nonfinancial companies doAgricultural loans and discounts outstanding of

agencies supervised by the Farm Credit Adm.:Total, end of period mil. $..

Farm mortgage loans:Federal land banks do

Loans to cooperatives doOther loans and discounts do

Bank debits to demand deposit accounts, exceptinterbank and U.S. Government accounts,annual rates, seasonally adjusted:

Total (233SMSA's)O bil. $..New York SMSA , do....

Total 232 SMSA's (except N.Y.) do..6 other leading SMSA'si do.226 other SMSA's ' do.

Federal Reserve banks, condition, end of period:Assets, total 9 mil. $

Reserve bank credit outstanding, total 9 _doTime loans do.U.S. Government securities do.

Gold certificate account do.

Liabilities, total 9 do.

Deposits, total doMember-bank reserve balances do

Federal Reserve notes in circulation do

All member banks of Federal Reserve System,averages of daily figures:

Reserves held, total mil. $_.Required do.. .Excess do... _

Borrowings from Federal Reserve banks.-.do...Free reserves do.. .

Large commercial banks reporting to Federal Re-serve System, Wed. nearest end of yr. or mo.:

Deposits:Demand, adjustedcf mil. $.

Demand, total 9 do.. .Individuals, partnerships, and corp do.. .State and local governments do.. .U.S. Government.^ do.. .Domestic commercial banks do.. .

Time, total 9 do.Individuals, partnerships, and corp.:

Savings do.Other time do.

Loans (adjusted), total o" do_Commercial and industrial do.For purchasing or carrying secrrHies do.To nonbank financial institutions do.Real estate loans do.Other loans do.

Investments, total do.U.S. Government securities, total do.

Notes and bonds do.Other securities do.

22,52352,04139, 7107,29432,41612,331

36,740

19,1274,931

12,682

133,540

107,71825

97,02111,598

133,540

38,01625,15885,590

135,136134,964

1172162

U22

112,773

181,528130,575

6,0411,620

27,383

231,416

89,473107,545

291,495116,48012,32724,54063,40996,816

111,45250,07636,82561,376

25,65463, 87849, 2238,926

40, 29714, 655

41,713

22,1395,60013,974

139,889

116,303265

102,81911,718

139,889

35,55026,87093,153

i 36,47136, 297i 174i 558

i -330

120,472

200, 280143, 5536,3463,74429,275

252,424

92,461121,400

324, 557125, 53413,63823, 90474, 600111, 547

113,93446, 11137, 24767, 823

23,09159,39744,8867,85437,03214,511

40,889

21,3024,91414,673

134,425

109,3021,265

98,43611,595

134,425

35,59128,26287,506

35,18634,987

1991,071-771

13,266

182,949130,8486,3201,01326,607

239,513

93,598112,131

305,789119,29212,85422,50769,999102,341

111, 34546,48538,45864,860

23,31759,95244,8158,09436, 72115,137

41,112

21,5244,95314,635

139,288

115,9721,069

104,71511,595

139,288

40,92823,95387,361

35.15634,965

191634

-331

109,130

176,535125,6855,7485,35225,178

241,749

93,405113,712

303,936120,29013,07522,52571,353101,651

111,30145,71338,07365,588

23,90863,92448,1518,78439,36715,773

41,442

21,7145,40714,321

128,999

106,794923

94,59711,595

128,999

30.37922,84188.380

35,86035,521

3391,319

113,077

182,852131,5356,6301,196

27,714

243,106

92,844114,684

310,908123.50812,90523,18872,490105,016

110.98944,81637, 21266,173

24,08863,92748,3618,80639,55515, 566

41,600

21,9235,69613,981

133,591

109,729926

96, 47711, 595

133,591

30,04226,34591, 229

35,78235, 647

135840

-622

113,231

189,514135,8156,2352,70729,389

246,723

92,276117,672

318,767123,57313,16723,28573,444107,158

112,72545,65937,67,066

25.65463,87849, 2238,926

40, 29714.655

41,713

22,1395,60013,974

L39,889

.18,303265

02,81911,718

35,55026,87093,153

36,47136,297

174558

-330

20,472

200,280143,5536,3463,74429,275

252,424

!, 461121,400

324,557125,53413.63823,90474,600111,547

113,93446, 11137,24767,823

25, 25266,50050,9619,40941,55215,539

42,179

22,3516,07313, 755

134,925

109,849758

07,00411,718

134,925

31,82219, 30190,159

38,18537, 880

305481

-144

114,743

188,226134,1817,1072,10527,983

252,425

92,562120,910

322,039124,35912,98322,57375,241109,149

110,11344,61137,59865,502

25,41167,01551,6849,34042,34415,331

42,663

22,5816,27713,806

134,500

110,235304

98,45011,178

134,500

30,80526,04790,703

36,73836,605

133405

-220

112,191

191,501136,2936,3772,74529,172

254,902

92,641122,262

323,040126,60912,61222.37075,897106,727

110,76344,969

26,18167,09351,4408,97242,46815,653

43,632

22,9276,80013,905

65,794

136,643

113,604332

101,57711,718

136,643

33,69727,90091,66G

36,23135,925

3063449

112,769

177,269128,4085,6652,70224,482

260,621

94,013126,550

325,163128,80511,52122,58976,788107, r

109,90744,03837,71065, T "

26. 25670,70053; 9839,693

44,29016,717

44,329

23,1856,939

14,205

141,394

116,6211,750

.03,50011,718

141,394

36,66328,32192,331

36,88036,816

64539

-432

112,127

188,146133,580

6,5103,714

26,886

261,462

93,202128,296

332,251131,65412,48122,93177,936108,708

112,41744,33539,53468,082

26,71471,90055,89210,20145, 69116, 008

44, 666

23, 5266,63114,509

28,28972,88456,2779,83046,44716,607

44,926

23,8666,11414,945

141,977

116.6071,167

.02, 82611,718

141,977

33,64730,13594, 570

37,11936,867

2521,227-882

113,822

206,908144,8526,1441,32535,975

265,176

93,405131,672

339,652134,60112, 29623,02379,156117,686

111,29543,42538,50367,870

148,127

124,4391,42810,14611,706

148,127

40,59527,92095,345

37,26237,125

1371,111-854

113,522

187, 760133,8236,1822,90927,540

266,884

92,883134,330

341,669135,52812,33522,99180,530113,196

110, 26342, 74238,01167,521

73,80956,63310,25846,37517,176

45, 201

24,1525,74715,302

146,137

123,6071,127

,08, 88511,693

146,137

39,91028,46195,571

38,049140

1,286-1,003

116,955

192,013138,2206,6321,444

28,213

267,169

91,857135,919

345,594135,46712,17223,52082,621114,293

110,09742,84738,35067,250

73,27356,23610,51145, 72517,037

45,614

24,4675,63415,513

'148,947

126,311'954

111, 73911,679

'148,947

40,77327,70596,534

37,66637,404'2621,147

' -697

114,813

186,539135,1365,5921,031

27, 563

270,102

91,590137,422

348, 636134, 98112, 49023,57684,410113,853

110,88842, 77738,18768,111

152,901

129,5011,363

115,27911,668

152,901

44,25626,65696,572

37,77637,612

1641,067-706

113,870

191,858135,1285,8025,97028,666

272,480

91,633139,485

353,784136, 71012,86524,02285,882114,813

112,02042,91738,57969,103

r Revised. J» Preliminary. l Average for Dec. § Insured unemployment (all pro-grams) data include claims filed under extended duration provisions of regular State laws;amounts paid under these programs are excluded from State benefits paid data. ATnsuredunemployment as % of average covered employment in a 12-month period. 9 Includesdata not shown separately. d" For demand deposits, the term "adjusted" denotes demanddeposits 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 withdomestic commercial banks and after deduction of valuation reserves (individual loan itemsare shown gross; i.e., before deduction of valuation reserves). ©Total SMSA s includesome cities and counties not designated as SMSA's. H Includes Boston, Philadelphia,someChicago, Detroit, San

•ncisco-Oakland, and Los Angeles-Long Beach.

275-875 O - 78 - S3


S-18 SUKVEY OF CUKKENT BUSINESS October 1978


1976 1977

Annual

1977


1978


FINANCE—Continued

BANKING-Continued

Commercial bank credit (last Wed. of mo., exceptfor June 30 and Dec. 31 call dates), seas adj.:t

Total loans and investmentsO bil. $..Loans© _ . . .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 ___do__.7 southeast centers.__ _ do . . .8 southwest centers do__.4 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-

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).__do_-.Commercial paper (prime, 4-6months) . .do. . .Finance co. paper placed directly, 3-6 mo-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)

Installment credit extended and liquidated:Unadjusted:

Extended, total9 mil. {Automobile paper do..Mobile home _ do_.Home improvement _ do..Revolving:

Bank credit card do..Bank check credit _ do..

Liquidated, total9 do . . .Automobile paper doMobile home doHome improvement doRevolving:

Bank credit card do . . .Bank check credit do . . .

Seasonally adjusted:Extended, total 9 do . . .

Automobile paper do . . .Mobilehome do . . .Home improvement do._.Revolving:

Bank credit card do . . .Bank check credit do . . .

Liquidated, total 9 do..Automobile paper__ do..Mobile home do..Home improvement do..Revolving:

Bank credit card do..Bank check credit do..

Total installment credit outstanding, end of year ormonth.

By credit type:AutomobileMobile homeHome improvementRevolving:

Bank credit cardBank check credit

All other

By holder:Commercial banks. . .Finance companies. _Credit unions . .Retailers

mil. $..

dododo

dodo

. . . . do

d o . . . ._. . . . d o . . . .

dodo . . . .

Others. do..

784.4538.9

97.3148.2

r.527.127.

7.747.547.80

5.25

17.35

18.7618.92

»5.19'5 .35'5 .22

' 4.9893 6.94

193,328

4,8416,736

25,8624,783

172,79552,750

4,6915,151

24,0124,552

185,489

66,11614,57210,990

11,3513,041

79,418

89,51138,63930,54619,0527,741

865.4612.9

93.5159.0

6.00

16.93

'8.8018.83

2 5.592 5.602 5.49

2 5.2652 6.85

225,64572,8875,2448,066

31,7615,886

194,55559,6524,8026,098

28,8515,202

216,572

79,35215,01412,952

14,2623,72491,269

105,29144,01537,03621,0829,149

840.4582.4102.6155.4

5.27

3.78

8.818.86

5.885.845.71

5.5006.90

21,3147,035

540856

2,934555

16,9275,312

440553

2,461441

19,2046, 158

479733

2,711510

16,5535,104

424551

2,396450

204,358

76,02714,81212,329

12,2273,409

85,554

100,05941,98735,07718,4758,760

843.1587.6

99.5156.0

5.75

6.89

8.82

6.166.176.04

5.7706.92

19,2986,178

454740

2,937513

16,3614,998

386536

2,513418

19,1646,109

424679

2,847485

16,8145,005

392536

2,567436

207,294

77,20714,88012,532

12.6513,50486,519

101,56442,33335,77918,7258,894

852.6597.897.2157.6

5.80

6.95

8.848.88

6.576.556.41

6.1887.23

18,7845,898464696

2,818475

16,9375,260415525

2,640429

19,7876,083457718

2,973487

17,1605,234413517

2,687430

209,141

77,84514,92912, 703

12,8293,55187,283

102,50442,70435,99318,9618,978

866.1611.2

95.0159.9

6.00

7.08

8.858.89

6.586.596.49

6.1607.28

19, 7215,924442701

2,878

16, 7885,013372526

2,612447

19, 6806,330464761

2,828492

16, 8265,089390550

2,585466

212,074

78, 75714,99912,879

13, 0963,601

103, 46943, 32236,48819, 6299,166

865.4612.993.5159.0

6.00

7.26

8.878.93

6.606.646.52

6.0637.40

21,4325,635379595

3,811

16,9325,040365521

2, 645466

20,1386,721460722

2,973531

17,4025,424384549

2,723485

216,572

79,35215,01412,952

14,2623,72491,269

105,29144,01537,03621,0829,149

874.3622.492.5159.4

6.37

7.34

8.95

6.866.796.69

6.4487.71

16,7185,031329452

3,121563

17,3655,006365501

3,014511

19,5866,263449618

2,948556

17,1625,078

491

215,925

79,37614,97812,904

14,3693,77690,522

105,46643,97036,85120,5259,114

881.9625.497.5159.0

6.50

7.48

8.968.99

6.826.806.74

6.4577.76

16,6885,469343558

2, 533478

16,3214,860348494

2,729435

20,1796,400400710

3,143535

17,5185, 296383539

2,858448

216,297

79,98414,97312,968

14,1743,82290,376

105,66344,10737,21720,0609,250

888.8633.598.5158.8

6.50

7.64

9.039.04

6.796.806.73

6.3197.76

21,9767,541518785

3,023586

19,0675,860431590

3,053561

21,5956,822502770

3,231

17,5275,300394553

2,783

219,203

81,666• 15,06213,162

14,1423,84491,327

107,16644,48638,18519,9209,446

904.8645.0

98.4161.4

6.50

7.76

9.079.14

6.926.866.74

6.3067.90

21,3397,175506761

2,897589

17,8035,353411550

2,693575

22,1177,248508753

3,255646

18,3985,520413541

2,944590

222,737

83,49015,15613,375

14,3453,85692,515

109,33645,18238,75019,9419,528

917.9657.997.1162.9

6.84

7.86

9.149.17

7.327.116.98

6.4308.10

24,0008,297537918

3,165644

19,1725,830472602

3,053582

22.3367,387490

3,245677

18,4795,598432576

2,982548

227, 561

85, 95415,22013, 691

14, 4563,91994, 321

111, 67346,13639, 95120,1419,660

922.4661.298.4162.8

7.00

7.94

9.239.27

7.757.637.41

6.7078.31

25,0328,608536950

3,546

19,1765,789450606

3,074609

22,6807,241460801

3,482694

18,8885,698445592

3,120604

233,416

88,76715,30914,037

14,9293,99696,378

114,75647,14741,38820,3109,815

935.2672.0

99.7163.5

7.23

8.05

9.349.41

8.027.917.66

7.0748.54

22,4247,529558

3,300585

18,6324,898429580

2,940537

22, 3327,156517736

3,466599

19,0315,636413580

3,068572

237,197

90,67115,43814,260

15, 2884,04397,497

117,11047, 96741,80220,4329,886

939.2677.297.0165.0

7.43

8.18

9.459.55

7.987.907.65

7.0368.31

25,1448,371614

1,000

3,825694

19,8086,088475627

3,254561

22,6327,399546850

3,499625

19,6465,953459621

3,219581

242,538

92,95615,57714,633

15,8574,17899,337

119,88948,98242,93120,65510,081

947.1684.4

96.3166.4

9.509.62

8.548.448.18

7.8368.38

r Revised. p Preliminary. l Average for year. 2 Daily average. ©Adjusted toe xclude interbank loans. § For bond yields, see p. S-21. t Beginning Jan. 1959, monthlydata have been revised to reflect new seasonal factors and adjustment to bench marks for thelatest call date (Dec. 31, 1975). Revisions are available from the Federal Reserve Board.Washington, D.C. 20551. J Data have been revised back to 1970, noninstallment credit

is no longer available on a monthly basis. "Personal loans" and "other consumer goodspaper" have been combined to form an "all other" category. Earlier monthly data areavailable from the Federal Reserve Board, Washington, D.C. 20551. H Beginning Jan.1973, data have been revised; revisions for Jan. 1973-April 1975 will be shown later.

9 Includes data for items not shown separately.


October 1978


1976 1977

Annual

VEY OF CUKKENT BUSINESS

1977

Aug . Sept. Oct. Nov. Dec.

S-191978


FINANCE—Continued

FEDERAL GOVERNMENT FINANCE

Budget receipts and outlays:Receipts (net) mil. JOutlays (net) — do.Budget surplus or deficit (—) do.

Budget financing, total do.Borrowing from the public do.Reduction in cash balances do.

Gross amount of debt outstanding do.

Held by the public. do.

Budget receipts by source and outlays 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 - do.Agriculture Department ..doDefense Department, military. doHealth, Education, and Welfare Department

mil. $..Treasury Department __ doNational Aeronautics and Space Adm doVeterans Administration do

Receipts and expenditures (national income andproduct accounts basis), qtrly. totals seas. adj.at annual rates :f

Federal Government receipts, totalf bil. $..

Personal tax and nontax receipts doCorporate profit tax accruals doIndirect business tax and nontax accruals.doContributions for social insurance do.

Federal Government expenditures, totalf__do

Purchases of goods and services do.

National defense _ do.

Transfer payments.. do.Grants-in-aid to State and local govts do... .Net 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 doMortgage loans, total do

Nonfarm do

Real estate do.Policy loans and premium notes do.Cash do.Other assets _ do..

Life Insurance Agency Management Association:Insurance written (new paid-for insurance):

Value, estimated total mil. $._Ordinary (incl. mass-marketed ord.)_..doGroup. do.Industrial.. ._ do.

MONETARY STATISTICS

Gold and silver:Gold:

Monetary stock, U.S. (end of period)..-mil. $._Net release from earmark§ . . .doExports thous. $. .Imports.. . . . do .

Production :1[South Africa mil.!Canada. __ do.

Silver:Exports _ thous. $..Imports.. . .doPrice at New York dol. per fine oz_.Production:

United States thous. fine oz

299,197365,648

1-66,451

»66,4511 82, 913—16,462

'•1631,866'1480,300

1299,1971130,795i 41,409

i 92,714i 34,281

1365,648i 12, 796i 88,036

i 128,785143,527i 3,670

i 18,415

331.4

146.854.823.4

106.4

385.2

129.986.8

161.661.1

26.8

5.8

.0

-53 .8

321.5520.26

154.9391.5584.13

10.4825.832.00

16.50

324,849213,784104,683

6,382

11,598331

347,516331,017

962.465.2

61,4342325,252

4.353

26,708

356,8611401,902' -45 ,040

145, 040\ 53,5161,-8,476

709,138551,843

356,861156,725i 54,892

108,683i 36,561

1401,902i 16, 738i 95,751

[ 147,455i 49,560i 3,944

118,019

374.4

169.461.325.0

118.7

422.6

145.194.3

172.767.429.1

8.3

0

- 4 8 . 1

351. 7223.56

171. 6596.8588.01

11.0627.562.13

18.92

367,335242,842117,960

6,533

11,719426

1,042,625674,026

2 951.62 73.7

84,645354,818

4.623

27,519

29,67634,720

-5,044

5,0447,780

-2,736

695,485541,819

29,67612,725

809

12,9583,185

34, 7201,6747,851

12,9613,113

3551,417

339.9722.08

167.4793.4185.08

10.8827.00

1.4517.67

30,64220,6939,436

513

11,59562

96,53642,507

83.25.8

7,82431,290

4.444

2,267

36,64235,097

1,545

- 1 , 5 4 510,024

-11 ,569

709,138551,843

36,64217,3278,376

7,8283,112

35,0971,4718,094

12,9442,970

3241,329

374.3

167.662.0

24,12738,790

-14,663

14,6631,851

12,812

707.693553.694

24,12713,2751,445

6,5502,857

38,7901,7737,992

12,7745,385

3101,574

25.4119.3

430.7

146.894.4

175.770.928.9

8.4

.0

-56.4

342.4422.68

168.2294.1785.70

10.8627.14

1.4617.91

34,00119,96013,513

528

11,59544

7,45688,226

84.45.5

10,68831,776

4.539

1,982

I

27, 59636,864

—9, 269

9,2698,854

415

18, 232562, 548

27, 59613,171

920

10,4043,100

36, 8642,8408,721

13,3003,058

3391,597

344.9522.88

169.5694.7886.21

10.9427.28

1.2518.26

30,18521,0168,591

578

11,59585

263,12643,052

10. 2

4,56526,395

4.763

1,481

32,79437,646

- 4 , 8 5 2

4,8529,971

- 5 , 1 1 9

'29,164572,519

32,79413,9419,212

6,6472,995

37,6463,0188,200

13,1796,344320

2,604

385.5

174.862.9

348.7723.52

171.2295.2086.55

11.0127.41

1.5318.88

31,72221,6119,593

518

11,595116

41, 553182,659

80.26.2

45432,698

4.828

3,280

33,20136,918

- 3 , 7 1 7

3,7176,027

-2,310

731,821578,546

33,20120,217

1,991

7,9982,996

36,9172,6898,123

13,1255,082

315684

25.6122.2

444.1

152.297.1

178.371.130.7

11.8

.0

-58.6

351.7223.56

171.6596.8588.01

11.0627.56

2.1318.92

44,04925,28218,281

485

11,719-116

78, 27259, 317

73.06.2

14,66625,5874.706

4,286

26,79533,787-6,992

6,9925,1081,884

'39,650583,654

26,79510,6201,013

12,4272,736

33,787939

8,226

13,3783,601

3421,514

354.0223.88173.7097.1588.26

11.1427.691.64

18.82

26, 06317, 7557,862

445

11,718262

195,11975,585

76.05.8

8,798136,446

4.409

1,219

24,87940,004

-15,125

15,1259,6565,469

747,844593,310

24,8795,2588,023

8,5603,037

40,0041,8799,168

14,3873,386

3702,676

396.2

176.859.626.5

133.3

356.2724.09

175.1597.4888.47

11.2227.841.46

19.03

26,60318,8937,264

446

11,718- 9

26,09232,347

76.45.5

10,73582,3844.936

1,893

42,34335,7246,618

-6,618-2,263-4,355

'46,431191,048

42,34318,8838,850

11,8282,831

35,724781

8,315

12, 7565,647

316556

448.8

151.597.9

180.273.933.2

10.0

.0

-52.6

359.1124.03

176.9898.02

: 88.82

11.2128.021.57

19.27

35,87723, 95211, 351

574

11,7188

36,552138,032

80.66.4

7,936210,902

5.273

2,536

34,96136,670

-1,709

1,708-5552,263

51,412590,493

34,96114,2931,183

16,0923,395

36,6701,2298,870

13,8263,657

3611,751

363.2723.88

180.3798.5889.21

11.2728.25

1.4819.44

31,56222,359

8,634569

11,71841

188,86690,620

82.86.2

13,665164,590

5.118

1,634

47, 65738, 602

9,055

- 9 , 0555,401

-14,456

'58,804.95,894

47, 65720,30114, 655

9,2873,414

38, 602819

8,854

14,1426,837

3292,432

424.7

186.772.627.

366.9424.27

182.3499.1989.67

11.5428.43

1.5419.62

33, 58924,1478,876

11,71819

32,67449,529

80.25.8

5,75829,9155.121

1,911

29,19436,426

- 7 , 232

7,2323,1954,037

'60, 203

29,19414, 5901,785

9,5183,300

36, 4261,3368,285

13,1225,180

324

137.6

448.3

147.2

180.775.934.6

10.0

.0

-23.6

369.8824.20

183. 70100. 0490.34

11.5428.651.48

20.27

37,05724,03412,475

548

11, 70647

23,11882. 745

78.56.0

6,19433,206

5.316

1,802

374.4224.38

187.18100. 6090.78

11.5628.84

1.4220.44

28,57920, 6917,399

490

11,69326

40,90632,994

81.1

6,07932,209

5.331

1,526

32, 52923, 6108,399

520

11, 67922

29,53871,754

82.!

12,46833,105

1,434

199.1

28.2139.9

446.1

156.1100.2

188.977.7

7.5

.2

2,456

r Revised. v Preliminary. 1 Data shown in 1976 and 1977 annual columns are forfiscal years ending June 30 and Sept. 30 respectively; they include revisions not distributedto months. 2 Reported annual total; revisions not distributed to the months. 9 Includesdata for items not shown separately.

jData have been revised back to 1946 (see table 3.2 in the Jan. 1976 and July 1978 SURVEYS

§Or increase in earmarked gold (-'). Walued at $38 per fine ounce from Jan. 1972-Sept.1973; at $42.22 thereafter. c Corrected.




1976 1977

Annual

1977


1978

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

FINANCE—Continued

Money supply and related data (avg.Unadjusted for seasonal variation:

MONETARY STATISTICS—Continued

Currency in circulation (end of period) bil. $..

of daily fig.): ©

Total money supply bil. $_.Currency outside banks doDemand deposits do

Time deposits adjusted!! doU.S. Government demand deposits^! do

Adjusted for seasonal variation:Total money supply . . .do

Currency outside banks doDemand deposits do

Time deposits adjustedH.. _ do

Turnover of demand deposits except interbank andU.S. Govt., annual rates, seas, adjusted:

Total (233 SMSA's)©..ratio of debits to deposits.New York SMSA do.

Total 232 SMSA's (except N.Y.) ._.do.6 other leading SMSA'sd* _ . . . d o .226 other SMSA's _ do..

PROFITS AND DIVIDENDS (QTRLY.)

Manufacturing corps. (Fed. Trade Comm.):Net profit after taxes, all industries mil. $..

Food and kindred products _._doTextile mill products _doPaper and allied products doChemicals and allied products .do

Petroleum and coal products.. .doStone, clay, and glass products .doPrimary nonferrous metal . .doPrimary iron and steel doFabricated metal products (except ordnance,

machinery, and transport, equip.) mil. $_.

Machinery (except electrical) .doElec. machinery, equip., and supplies do

Transportation equipment (except motorvehicles, etc.) mil. $.

Motor vehicles and equipment... . . .doAll other manufacturing industries do

Dividends paid (cash), all industries do

SECURITIES ISSUED

Securities and Exchange Commission:!Estimated gross proceeds, total mil. $.

By type of security:Bonds and notes, corporate do . . .

Common stock . . . d o . . .Preferred stock d o . . .

By type of issuer:Corporate, total9 ..mil. $..

Manufacturing do.Extractive (mining) do.Public utility do.

Transportation .doCommunication .doFinancial and real estate do

State and municipal issues (Bond Buyer):Long-term do. . . .Short-term do

SECURITY MARKETS

Stock Market Customer Financing

Margin credit at brokers and banks, end of monthor year, total mil. $..

At brokers doAt banks . . .do

Free credit balances at brokers:Margin accounts doCash accounts do

93.7

' 305. 177.8

' 227.4467.8

4.1

143.9391.9

90.7129.475.7

64,5195,826809

2,2707,610

11,7251,447913

2,085

3,196

7,8894,073

1,6875,0999,890

22,763

1 57,801

41,182

8,3042,803

52,29015,4931,762

14,415

3,6263,562

10,283

33, 84521, 905

9,0118,166

845

5851,855

103.8

' 327. 484.8

' 242.6517.1

4.2

70,3665,575

8282,3678,060

12,1791,686

873864

3,458

9,1315,383

1,9896,133

11, 840

26,585

53,618

37,532

8,0343,392

48,95812,2252,58913,199

1,6414,35311,565

45,06021,349

10,8669,993873

6402,060

97.9

328.295.9

• 242.3523.03.4

330.585.5

245.0521.9

3,336

2,615

379178

3,172966296497

19545

1,092

3,9971,398

10,5929,763829

6051,745

97.8

331.186.2244.9525.75.0

333.086.3246.6525.9

16,714

232618

1,999

3,102559157

-243

868

2,2571,332

506941

3,003

6,197

4,203

2,972

279347

3,598551156

1,417

60322717

3,7872,223

10,6179, 793824

6001,745

98.9

335.286.9248.2531.93.7

335.987.1248.7531.9

3,863

2,, 373

823299

3,494705463

1,102

65

3,6351,101

10,5839,756827

6151,850

101.9

338.488.4

250.0536.0

3.5

336.287.7248.5540.1

5,019

2,696

1,556339

4,591744207

1,714

1261,010630

3,1421,339

10,6809,859822

6301,845

103.8

348.290.1258.1542.65.1

338.588.6249.9545.0

18,3901,455

268580

1,900

2,972455140365

862

2,5101,562

1,5253,328

7,844

6,385

4,850

596445

5,8911,9941,67

1,030

253232

1,570

3,5061,049

10, 8669,993873

6402,060

100.8

347.588.7258.8549.54.3

341.789.4252.2550.6

3,074

2,314

462171

2,947273328644

70519

1,023

3,1921,171

10,6909,839851

6601,925

101.4

335.989.0247.0554.94.3

341.890.1251. 7556. 7

2,409

1,821

388138

2,34771699465

4134912

2,6641,521

10,90110,024

877

6351,875

102.4

338.2'89.9248.2563.2'4.8

342.990.7252.3561.7

16,0641,236

225563

2,020

2,549246191161

720

2,0671,387

4981,4712,730

6,392

5,642

3,872

674148

4,6941,229187

1,258

113291

1,311

4,3871,556

11,02710,172

855

6301,795

103.1

'350.991.0

' 259.9' 567.1

5.0

348.5'91.2257.3565.2

3,458

2,434

239235

2,908549142618

25235931

3,4894,915

11,42410,510

914

7152,170

105.4

345.3'91.9253.3572.9'4.0

350.6'92.1258.5571.6

4,889

3,157

649390

4,196878100

1,885

2160

811

5,146985

10,910

7552,395

106.3

351.7'92.9258.8576.6'6.2

352.8'92.8259.9574.5

22,3751,707

343719

2,392

3,152655376791

1,167

3,0291,710

2,0143,627

6,957

5,274

3,598

819586

5,0031,471

3341,244

209349

1,017

4,1221,870

11,332

7002,300

106.6

356.0'94.1262.0579.9' 4 . 5

354.2'93 .3260.9579.4

3,6851,598

107.6

354.2'94 .3259.9584.6' 3 . 6

356.794.0

262.8583.0

•6,006• 1,760

358.995.0

263.8589.8

6.2

360.995.2

265.7589.6

2,0111,899

' Revised. *> Preliminary. i Beginning Jan. 1973, does not include noncorporatebonds and notes formerly included. eEffective February 1976 SURVEY, data revisedto reflect: Annual review of seasonal factors; regular benchmark adjustment; effect ofchanges in check collection procedures (Regulation J); and adjustments to include new fig-ures from internationally oriented banking institutions. Monthly revisions back to 1970are in the Feb. 1976 Federal Reserve Bulletin.

ITAt all commercial banks.©Total SMSA's include some cities and counties not designated as SMSA's.cTIncludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, and Los

Angeles-Long Beach. § Data revised back to 1973; no monthly revisions for 1973-75 areavailable.

9 Includes data not shown separately.


October 1978 SUEVEY OF CURKENT BUSINESS S-21


1976 1977

Annual

1977


1978

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

FINANCE—Continued

SECURITY MARKETS—Continued

Bonds

Prices:Standard & Poor's Corporation:

High grade corporate:Composite d" 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 . doA doBaa . 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 O— do

Stocks

Dividend rates, prices, yields, and earnings, com-mon stocks (Moody's):

Dividends per share, annual rate, compositedollars..

Industrials doPublic utilities doRailroads doN.Y. banks d o . . . .Property and casualty insurance cos do

Price per share, end of mo., composite. doIndustrials doPublic utilities doRailroads do .

Yields, composite percentIndustrials doPublic utilities doRailroads doN.Y. banks.. do . . .Property and casualty insurance cos do

Earnings per share (indust., qrtly. at ann. rate;pub. util. and RR.,for 12 mo. ending each qtr.):

Industrials dollarsPublic utilities. d o . . .Railroads_ d o . . .

Dividend yields, preferred stocks, 10 high-grade(Standard & Poor's Corp.) percent-

Prices:Dow-Jones averages (65 stocks)

Industrial (30 stocks)Public utility (15 stocks)Transportation (20 stocks)

Standard & Poor's Corporation: d"Combined index (500 Stocks) 1941-43=10.

Industrial, total (400 Stocks) 9 -- - d o . . .Capital goods (111 Stocks) d o . . .C o n s u m e r goods (189 S t o c k s ) d o . . .

U t i l i t i e s (40 S tocks ) . . . d o .Transportation (20 Stocks)* 1970=10.

Railroads (10 Stocks) 1941^3=10.Financial (40 Stocks)* 1970=10.

New York City banks (6Stocks). 1941-43=10.Banks outside N.Y.C. (10 Stocks) do.Property-Casualty Insurance (6 Stocks).do

58.072.5

58.96

(O

,262.11

9.01

8.438.759.099.75

8.849.178.85

6.566.49

6.78

0)

0)

0)

0)

7.98

303.91974.9292.28

214.03

102.01114. 35115.5292.73

48.1614.1745.8711.4652.1497.96

105.01

59.681.3

56.89

4,646.35

8.43

8.028.248.498.97

8.288.588.13

5.675.56

7.06

7.61

301.70894.62110.96225.16

98.20108.44106.7985.27

54.2314.0649.9411.6347.3498.23

112.42

60.182.4

57.30

391.43

8.34

7.988.178.408.82

8.218.478.05

5.545.46

7.00

7.55

296. 79872. 26113. 34219. 46

97.75107. 50105. 5285.13

55.4213.7449.1911.9548.3999.68

114. 79

60.483.3

57.77

335.65

8.31

7.928.158.378.80

8.198.438.03

5.515.37

6.94

7.58

291.30853.30112.37215.34

96.23105.94102. 7685.20

54.6113.4548.1111.6145.8497.22

111. 00

59.581.2

56.68

335.80

8.42

8.048.268.488.89

8.278.568.07

5.555.53

7.08

7.62

283.38823.96111.76209.30

93.74103.1899.7983.15

54.2612.9746.2311.0942.3694.40

106.53

59.283.2

56.24

353.57

8.48

8.088.348.568.95

8.368.618.10

5.475.38

7.14

7.67

284.77828.51110.85212. 22

94.28103.71100. 7683.90

54.4613.2346.4411.2542. 5794.92

109.22

58.481.7

55.62

400.87

8.54

8.198.408.578.99

8.428.658.10

5.665.48

7.23

7.85

283.84818.80111.45214.02

93.82103.13101.3682.89

54.5413.3446.4611.1541.6393.73

108.45

57.280.9

53.74

372.15

8.74

8.418.598.769.17

8.608.878.20

5.635.60

7.50

7.92

273.04781. 09106. 97209.90

90.2599.3499.4380.14

52.4013.1346.1310.4640.3290.14

101.86

56.981.8

53.09

283.80

8.78

8.478.658.799.20

8.658.908.32

5.635.51

7.60

7.99

267.80763.57104.32208.14

88.9897.9596.2579.11

51.6012.9144.6910.3338.7489.5699.37

57.082.0

52.90

378.68

8.80

8.478.668.839.22

8.668.938.41

5.695.49

7.63

8.07

265.75756.24105.48204.50

88.8297.6593.1278.68

51.7212.7043.6110.5038.6690.36

101.01

56.379.8

52.15

408.75

8.88

8.568.738.939.32

8.729.058.49

5.895.71

7.74

8.06

276. 65794. 66105.85214. 50

92.71102.0797.8682.69

52.1613.3044.7711.2042.0497.09

107. 52

55.577.2

51.34

451.17

9.02

8.698.849.059.49

8.849.198.60

6.195.97

7.87

8.11

288.45838.56104.85225.96

97.41107.70104.6986.84

51.7114.0146.0511.8745. 20

102.28107.88

55.275.7

50.91

410. 47

9.13

8.768.959.189.60

8.929.338.68

6.296.13

7.94

8.31

288.53840. 26105.48224.33

97.66107.96106.3687.51

52.2513.8844.9211.8744.85

101. 7010S. 43

54.575.2

49.97

348.52

9.22

8.889.079.339.60

9.059.388.70

6.126.18

8.09

8.42

287.85831.71105.54227.06

97.19107.39105.1686.68

52.3214.0043.9711. 7543.62

100.76106.90

56.177.0

51.32

459.78

9.08

8.698.969.189.48

8.959.218.72

6.165.98

7.87

8.26

306.73887.93108.51248.96

103.92114. 99115.1992.45

53.3515.4147.2612.8548.02

113.19117.48

56.177.6

51.67

393. 73

9.04

8.698.929.119.42

8.909.178.68

6.095.93

7.82

8.24

305.26878. 64106. 67250.25

103. 86115.11113.9491.30

52.5415. 4648.1912. 7048.01

114.25115. 04

'Revised. 1 No longer available. § Revised yields by rating for Jan. 1974-Nov. 1975will be shown later,

cf Number of issues represents number currently used; the change in number does not

affect continuity of the series,sumed 3 percent 20-year bond.

9 Includes data not shown separately. * New series.

If Prices are derived from average yields on basis of an as-O For bonds due or callable in 10 years or more.




1976 1977

Annual

1977


1978


FINANCE—Continued

SECURITY MARKETS—Continued

Stocks—Continued

Prices—ContinuedNew York Stock Exchange common stock indexes:

Composite.. 12/31/65=50..Industrial _ doTransportation _ doUtility do....Finance 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..

54.4660.4439.5736.9752.94

i 194,9691 7,036

164,5451 5,649

5,360

858. 3024,500

53.6957.8641.0840.9255.25

187,2037,023

157, 2505,613

5,274

796.6426,093

53.5157.3041.0441.5056.52

15,754617

13,411507

433

799.1825, 733

52.6656.4139.9940.9355.33

13,673509

11,378404

384

798.9525,875

51.3754.9938.3340.3853.24

13,168511

11, 343423

414

766.2025,913

51.8755.6239.3040.3354.04

15,698597

13, 407486

495

793. 9926,000

51.8355.5539.7540.3653.85

15,953637

13, 376504

451

796.6426,093

49.8953.4539.1539.0950.91

14,442568

12,334462

428

750.4526,153

49.4152.8038.9039.0250.60

11,889482

9,990387

369

737. 5526,276

49.5052.7738.9539.2651.44

15,794639

13,289510

760.3126,388

51.7555.4841.1939.6955. 04

20,335802

17, 316650

696

820. 7626,411

54.4959.1444.2139.4757.96

27,3671,041

23,486

776

829.6326,588

54.8359.6344.1939.4158.31

24,391923

20,557744

671

818.9526, 736

54.6159.3544.7439.2857.97

541

864.1326,940

58.5364.0749.4540.2063.28

865

890.5727,012

58.5864.2350.1939.8263.22

672

883.8527,152

FOREIGN TRADE OF THE UNITED STATES

VALUE OF EXPORTS

Exports (mdse.), incl. reexports, totalcf mil. $._

Excl. Dept. of Defense shipments doSeasonally adjusted .do

By geographic regions:Africa do.Asia... do.Australia and Oceania. do.Europe do.

Northern North America... doSouthern North America ...doSouth America _ do

By leading countries:Africa:

Egypt. do.Republic of South Africa do

Asia; Australia and Oceania:Australia, including New Guinea doIndia ..doPakistan _ doMalaysia _ do

Indonesia _ do..Philippines do..Japan do.

Europe:France doGerman Democratic Republic (formerly E.

Germany) mil. $_.Federal Republic of Germany (formerly W.

Germany) mil. $..

Italy do.—Union of Soviet Socialist Republics doUnited Kingdom do

North and South America:

Latin American Republics,Argentina. _.BrazilChileColombia.MexicoVenezuela

total? do....dodododododo—.

Exports of U.S. merchandise, totals doExcluding military grant-aid do

Agricultural products, total .doNonagricultural 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 9 doCotton, raw, excl. linters and waste doSoybeans, exc. canned or prepared doMetal ores, concentrates, and scrap do...

115,339.9

•115,149.8

5, 205.629,728.52,689.935,900.6

24,111.08, 368.08,595. 4

810.01,347.6

2,199.21,135.8

394.3535.6

1,034. 6818.2

10,144.7

3,446. 3

64.9

5, 730.8

3.071.12, 309. 64.801.2

24,106.4

15,487.4543.7

2,808.8507.7702.7

4,990.02, 627.8

'113,666.0113,475.9 118,943.722,997.690,320.9

15, 710.1798. 0

10,910.9

1,523.5

10,890.71,048. 73, 315.41, 284. 9

121,212.3

121,150.4

5,545. 631,428.9

2, 876.536, 296.0

25, 752.18, 660.59,274.8

982.41,054.4

2, 375.6778.6292.7560.7

763.2875.9

10,522.1

3.503.2

36.1

5, 982.0

2, 787. 51,627.55,380.1

25, 748. 8

16, 346. 5731.1

2.482.3520.2782.0

4,806.13,170. 5

119.005.5

23,671.094,291.8

14,115.7796.9

8,754.8

1,846.8

13,086.31,529. 54, 393. 21,197. 0

8,987.1

8,984.19,683.2

413.42,413.1

249.62,434.2

1,768.3737.3818.9

65.582.8

210.346.316.545.2

53.388.2

787.4

245.6

1.3

428.5

169.948.4

382.4

1,768.1

1,419.465.6

218.850.764.6

408.6259.6

8,809.18,806.2

1,541. 67,167.0

1,137.167.5

684.0

155.6

720.561.6

133.4

10,371.1

10,367.511,038.6

541.62, 526.6

278.23,009.4

2,145. 2809.2

1,021.1

78.484.0

233.248.714.849.0

51.888.8

801.9

321. 4

. 3

501.9

208.188.8

440.0

2,144.8

1, 676.159.5

317.845.185.2

418.2354.4

10,157.510,153.91, 733.88,414. 2

1,247.675.3

777.7

201.8

822.767.0

113.6104.5

9,557.4

9,554.89,357.4

378.62, 246.8

227.52, 586. 7

2, 381.3767.2672.1

43.277.3

196.262.321.279.7

67.654.8

752.2

247.9

3.1

440.8

175.939.2

387.6

2,381.0

1, 305. 565.9

132.352.672.9

454.8228.6

9,364.49,361.8

1, 705.17, 414.0

987.565.1

556.1

67.3

1,042.745.9

448.182.2

•• Revised. i Annual total reflects revisions not distributed to the monthly data.2 Beginning Jan. 1978, data are based on a new classification system and include nonmone-

tary gold; the overall total and the commodity groups (but not the items within the groups)have been revised back to Jan. 1977 to reflect these changes.

9,692.6

9,690.29,477.9

430.02,423.4

228.92, 755.3

2, 222.7755.2779.7

68.272.7

163.474.017.740.9

74.367.2

875.8

281.1

8.3

459.0

234.4134.7370.1

2, 222.5

1,398.173.2

202.540.959.8

437.6283.1

9,522.89,520.4

2, 081. 57, 396.8

1,142.967.3

677.9

142.4

1,131.5103.1520.0

11,399.9 29,366.9

11,396.110,999.0 J10,014.3

518.93,277.8

289.73,557.5

1,995.9851.8891.6

86.281.1

244.292.49.3

53.6

62.385.5

1,068.1

318.3

1.6

590.2

252.4173.4556.0

1,995.8

1,593.373.3

211.649.779.8

490.5316.7

11,201.511,197.72,323.9'8,807.6

1,304.456.0

234.832.665.2

379.3256.9

9, 216.69, 214.11,943.57,273.1

1,348.277.5

856.9

282.6

1,179.6156.6355.3111.5

29,364.4

372.12,463.4

224.43, 010.1

1,858.1691.7747.1

55.367.0

191.272.717.249.6

79.357.4

743.2

271.2

13.9

447.1

211.7155.2550.5

1,858. 0

1,132.763.8

657.1

2 138.0

21,049.8157.6323.0105.9

9, 518.5

9,514.69,922.4

415.82,578.5

203.02,996.0

1, 945. 5729.7649.5

82.675.6

172.890.147.052.4

70.584.7

869.4

294.1

9.5

462.5

217.3197.3488.4

1,945.1

1,263. 346.5

165.035.459.9

425. 4214.7

i, 341. 79,337.82,068.17,273.6

1,271. 562.2

819.8

168.0

1,063.4145. 6334.284.8

12,079.4

12,074.210.912.1

529.33,366.1

253.23,723. 9

2,412.0898.4896.0

111.481.5

209.875.972.959.7

69.179.4

1,015. 9

325.3

5.6

625.4

280. 6241.7635.1

2,411. 9

1,631.653.0

237.838.581.7

515. 2336.0

11,835.811,830.525.19.493.16.4

1,465. 775.3

920.1

213.6

1,337.5203.8431.5112.5

12,069.7

12,064.211,634.9

582.73,174. 2

233.23, 846. 8

2, 451. 8867.7840.0

129.691.5

193.075.846.854.8

57.676.6

969.9

340.8

2.2

544.3

299.2308.3791.2

2,451. 8

1, 562. 660.5

224.142.587.4

505. 0301.5

11,859.611,854.12, 508. 0i, 351. 6

1,472.878.1

942.7

144.3

1,388.6182.8513.3149.9

12,494.6 12,487.3

12,478.11, 753. 7

t78.9 12,:, 477.!12,125.'

12,250.012,234.3

1,684.2

143.6

1,466.5

10,944. 7 11,621.8 12,714. 4

3 10,

12,271.712,261.7

1,737.1

141.

1,353.9

>, 934.0 11,613.9 12,713.1, 792.5 12,469.3 13,428. 9

10,780.010.769.4

1,540. 6

161.6

992.5

11,429.311,421.4

1, 716.2

213.3

1,083.4

12,505. 712,504. 7

1,645.7

176.9

1,111.9

d" Data may not equal the sum of the geographic regions, or commodity groups and prin-cipal commodities, because of revisions to the totals not reflected in the component items.9 Includes data not shown separately.


October 1978


1976 1977

Annual

OF CUK KEN1.

1977

Aug. Sept. Oct. Nov . Dec.

ISlJNii S-231978


FOREIGN TRADE OF THE UNITED STATES—Continued

VALUE OF EXPORTS—Continued

Exports of U.S . merchandise—ContinuedB y commodity groups and principal commodi-

ties—ContinuedMineral fuels, lubricants, etc. 9 mil . $_.

Coal and related produc ts . . .doPetroleum and products do

Oils and fats, animal and vegetable d o .

Chemica l s - . - do .

Manufactured goods 9 IF— - doTextiles doIron and steel doNonferrous base metals__ do

Machinery and transport equipment , totalmil. $ - .

Machinery, total 9 - d o .Agr icul tura l . . . . d o .Metalworking d o .Construction, excav. and mining do .Electrical . . d o .

Transpor t equipment , total doMotor vehicles and par ts d o .

. .do . .

Miscellaneous manufactured articles do . .

Commodities not classified

VALUE OF I M P O R T S

General imports, total... doSeasonally adjusted do

By geographic regions:Africa. do.Asia__ do.Australia and Oceania.. doEurope do

Northern North America.- . . .do.Southern North America. do.South America do.

By leading countries:Africa:

Egypt do.Republic of South Africa.. do

Asia; Australia and Oceania:Australia, including New Guinea. doIndia do.Pakistan do.Malaysia do.Indonesia do.Philippines do.Japan. do.

Europe:France doGerman Democratic Republic (formerly E.

Germany) mil. $.Federal Republic of Germany (formerly W.

Germany mil. $Italy. do. . .Union of Soviet Socialist Republics do. . .United Kingdom do. . .

North and South America:Canada od_.

Latin American Republics, total 9 do. . .Argentina.. . . . do . . .Brazil .do.Chile do. . .Colombia _ . . . do . . .Mexico _ do. . .Venezuela do. . .

By commodity groups and principal commodi-ties:

Agricultural products, total mil. $.Nonagricultural products, total do. . .Food and live animals 9 . . do. . .

Cocoa or cacao beans do .Coffee . .do . . .Meats and preparations . . . do . . .Sugar . . . do . . .

Beverages and tobacco. d o . . .

Crude materials, inedible, exc. fuels 9 . . . d o . .Metal ores d o . .Paper base stocks. doTextile fibers d o . .Rubbe r . . . . d o . .

Minerals fuels, lubricants, etc d o .Petroleum and produc ts . d o .

Oils and fats, animal and vegetable d o .Chemicals d o .

Manufactured goods 9 If do.Iron and steel doNewsprint . _ . " " " " . d o .Nonferrous metals doTextiles. . " " " " . d o ,

4,225.82,988.2

997.6

978.1

9,958.71,206.11,970.91,906.8

"38.4

9,501.2

31,290.8107.7

4,945. 39,278.58,210. 410,954.2

6,574. 9

2,749.4

20, 677.6

12,644.039,366.81,671.2

23,645.6

26,246.89,348. 97,760.6

92.5924.8

1,285.7708.369.8

939.63,004.3

882.9.5,504.2

2,508.8

13.6

5,592.02,529. 8

220.24,254. 3

26,237.1

13,228.3307.9

1, 736. 6221.6654.8

3, 598.13,574. 4

11,179.3109,510.'

10,267.6357.9

2, 632.31, 447. 01,154. 0

1, 623. 7

7,014.12,250.91,275.5

249.3520.0

33,999.631,797.9

463.94,772.

17,621.94,347. 61,742.3,506.31,634.9

4,183.62,730.4

, 275. 6

1,308.7

0,812.310,857.01,958.9

, 660.51.058.4

50,247.6

12,516.61,871.1

730.34.405.5L0, 285.38,520.0

^96.5

3, 233. 9

4,313. 6

47,685.0

.7,023.9t9,421.1,719.6!8,330.9

!9, 375.41,590.79,343.1

170.01, 268.8

1, 264.2781.157.0

1,321.63,491.31,103.2.8,622.7

3,030.7

16.7

7,215.33,037.5

234.45, 067.9

29,355.7

.6,335.3383.3

2, 245. 9260.8821.6

4,684.4,071.9

13,538. 3133,278.4

12,557.8485.5

3,861, 273.21,079.1

1,669.4

8,486.22, 234. 41,252.4

225.1650.3

44.537.241,526.1

530.74,970.^

21,367.15, 804.41,871."3,938.1,772. 4

333.7206.7109.2

102.8

878.7

140.0133.780.2

3,622.4

432.5125.548.2

305.4778.4244.7711.8

651.3

375.5

.2,044. i

.2,101.4

382.5593.1179.5631.8

146.1992.4734.7

12.9100.2

127.164.34.2

143.6272.499.0

763.3

298.4

1.3

648.7311.326.0

498.1

, 142.8

,304.137.3

182.218.535. 7

369.5343.9

1,019.!11,641.6

37.9215.1112.9

162.3

771.3238.9113.623.540.5

3.651.43,556.4

52.6421.8

1,863.5528.2160.3371.7169.2

401.8259.7134.1

105.7

,064.9

,014.3194.8152.797.2

4,303.4

860.0147.368.9404.6901.7507.5048.9

744.4

250.9

12,452.412,941.6

, 466.8[, 382.4

149.9!, 389.1

!, 487.5S08.8'90.3

27.9117.1

117.267.23.7

113.1296.7120.2

, 624.2

250.3

2.2

627.02S2.9

10.9459.1

,268.926.3

141.218.551.1

322.5411.3

1,013.311,462.4

873.725.3

177.5111.4108.4

182.9

744.6197.891.415.762.3

3,720.53,538. 6

41.7436.4

1,888.7593.5149.1307.9156.6

367.0259.092.3

98.1

737.2

742.5120.7113.161.4

4,157.9

!,442.6125.742.3

298.0819.5794.0,119.5

670.7

493.7

12,497.512,586.9

1,264.34,117.3

145.32,229.2

2,495.9842.3718.6

36.9111.7

124.763.83.1

102.5207.571.4

1,620.4

281.3

605.6221.016.0

380.3

2,494.8

1,210.835.0

155. 219.177.4

377.6311.1

$5.610,978.1

812.936.1

152.782.889.4

137.8

737.4181.890.312.659.6

3,634.93,172, 3

29.6349.1

1,869.3511.9156.9300.139.

362.1243.4103.9

112.5

736.0

815.4135.7138.769.4

4,074.7

644.2135.741.9

320.8878.5501.5015.4

692.9

312.3

2,270.112,406.6

494.8826.3101.9029.4

2,765.3893.5686.7

15.8129.0

86.479.23.1

109.6250.391.3

, 559.1

223.4

.7

569.1215.118.8

333.9

763.7

262.639.8

125.814.168.4

428.0283.2

803.110,995.4

901.21.0

221.063.076.3

105.0

715.2218.1115.8

7.731.5

3,702.93,322.1

39.0311.6

1,763.0557."175.6311.3118.8

315.3181.0118.0

116.0

,037.4

977.1185. 5136.7103.3

4,768.7

064.7159.373.8

404.7971.2787.3995.8

741.8

434.8

13,372.0.3,474.2

1,476. 64, 503. 6

215. 0783.4

!, 573. 5990.0764.4

2.1155.7

155.366.15.3

130.8283.3119.1

, 807.1

2.6

771.3279.0

12.5472.0

2,572.4

, 445. 843.2

223.633.686.1

451.0252.7

1,309.111,997.4

1,294.623.0

316. 0157.5185.4

159.8

781.2205.0

95.18.069.5

3,153.03, 223. 0

41.1549.0

2,117.6612.1176.6377.4181.3

I

188.952.8

115.8

196.0

830.2

829.9142.7113.059.5

'3,852.0

465.2132.886.361.1

467.0386. 8903.3

665.6

433.6

2,717.712,380.9

,388.2:, 234. 1

121.5!, 759. 7

!, 360. 3, 047.1

806.2

1.0126.5

96.863.65.3

86.4209.981.7

, 784.4

4.0

767.2274.025 A

457.4

2, 360.2

,485.830.0

227.338.670.7

498.1295.

19.911,477.8

1,126.968.9

414.4107.652.2

1138.1

i 650.4183.695.020.441.

13,422.3,149.

129.'418.

11,982493.159.404.201.

141.037.186.4

97.2

883.2

848.4140.6120.272.5

941.9

546.5174.482.758.7

483.8395.4948.2

237.5

3,286.4.4,440.2

, 325.3Cf 565. 8

178.0!, 875.1

562.9022.0756.5

136.273.13.4

96.6290.490.4

, 842.4

301.3

1.5

775.2243.620.8

506.1

, 562.6

41.6199,535.289.1446.6249.4

1, 245.112,041.3

1,111.467.0

380.9124.632.4

162.4

657.2199.091.218.840.7

3, 502. 33.241.3

46.6472.

2.195.4669.4152.443.8159.

165.224.5

119.4

141.5

031.1

067.7173.4136.084.6

i, 144.4

;, 289. 7222.9113.166.5

597.4, 854.7, 181.6

878.5

390.4

.4,547.3

.3,669.3

409.8702.6174.9443.1

, 806.2067. 5942.4

15.6186.4

128.5110.5

6.0141.6312.986.6

103.7

361.8

4.8

876.6360.698.2

566.4

2,802.4

,592.841.7

216.231.190.3

451.0411.0

1, 405. 713,141.6

1, 257. 592.2

383.6148.443.6

174.7

768.5218.591.721.862.5

3,431. 23,194.2

46.0604.2

2,334.1593.9177.1465.1191.6

284.5134.7137.6

145.4

971.3

171.1129.073.3

5,098.2

3,127. 9224.5112.459.3

587.71, 970. 3

1, 203. 7

854.6

511.1

14,486.014,496.1

407.2924.2209.6285.3

780.3008.2870.6

2.0141.7

152.490.87.2

121.6338.595.4

2,181. 9

376.3

4.1

875.3344.6

57.1553.8

2,777. 6

, 509. 349.7

231.656.066.3

460.9343.7

1, 346. 713,139.4

1,161.553.3

345.0171.0

14.5

201.5

712.4177.584.023.272.8

3,513. 53, 246.4

42.7611.6

2,383.0666.5177.2480.6199.5

908.8

312.8

14,199.213,992.1

363.6

119.3

018.7

,100.4

\, 132.2

1,143. 4

189.2

841.4

3,234.1

51.5583.9

2,359.3

424.0

132.1

063.4

092.5

», 075.2

857.2

395.0

4,514.5,3,722.7

1,045.

212.7

769.8

3,471.5

46.7547.2

2,301.0

130.7

, 077.2

!9.5

;,486.8

777.9

351.6

4,703,9.4,779.3

1,126.1

788.0

3,380.

49.4546.9

2, 418. 3

335.4

120.9

149.1

024.7

,, 599. 8

855.9

330.6

L4,024.0L4,090.2

924.0

170.2

817.4

3, 677.1

43.0514.9

2,218.6

348.0

156.3

197.9

132.5

142.1

891.3

703.0

14,416.915,120.0

168.2

829.3

3,898.9

30.2537.9

2,215.4

' R e v i s e d , i See note 2 for p . S-22. 9 Includes data not shown separately.U Manufactured goods—classified chiefly by material .




1976 1977

Annual

1977


1978


FOREIGN TRADE OF THE UNITED STATES—Continued

VALUE OF IMPORTS—Continued

General imports—ContinuedBy commodity groups and principal commodi-

ties—ContinuedMachinery and transport equipment mil. $. .

Machinery, total 9 . . . doMetalworking doElectrical do

Transport equipment doAutomobiles and parts. do

Miscellaneous manufactured articles do

Commodities not classified . . d o

Indexes

Exports (U.S. mdse., excl. military grant-aid):Unit v alue 1967 = 100Quantity doValue do

General imports:Unit value, doOuantitv doValue - do. _.

Shipping Weight and Value

Waterborne trade:Exports (incl. reexports):

Shinnine weieht thous sh. tonsValue mil. $

General imports:Shipping weight thous. sh. tons. .Value mil. $

29,824.715,184.5

362.17,424.3

14,640.213,104.0

12,564.1

2,537. 7

202.1182.7369.1

248.8182.1452.9

283,07064,712

517,45081,171

36,406.817,663.8

433.58,432.0

17,829.915,842.0

13,809.4

3,335.7

9 211.8v 181.7J>384.7

P 269.2P204.2v 549.8

••274,413r 65,376

612,798r 103,037

2,761.31,534.7

39.8741.4

1,317. 91,118.3

1,231.2

244.2

211.0161.5340.9

273.3207.6567.4

21,6244,880

54,3249,281

2,995.91,531.2

39.7766.6

1,343. 71,193.8

1,257.4

308.4

212,2187.2397.2

273.4204.7559.5

24, 6105,947

53,2048,773

3,301.51,505.9

32.9761.3

1,563.51,387.9

1,341.1

280.5

210.6169.5357.0

272.6194.7530.8

22,2184,151

49,0167,906

3,190.11,399. 2

31.2685.7

1,645. 51,480.9

1,118.9

414.6

213.0174.2371.0

275.5192.5530.3

22,9784,625

48,1767,312

3,643.11,668.8

46.7763.9

1,766.31,535.4

1,305.4

327.2

215.4202.3435.7

271.1220.6598.0

24,5946,371

56,85610,620

«>3,392.71,619.9

69.3335.0

1,772.7'1,556.6

n,227.9

* 328.4

p 219. 9p 164.1p 360.8

P 275. 6P207.2p 571.0

18,1444,947

44,6578,680

3,573.21,751.8

67.8349.8

1,821.41,574.6

1, 293.7

253.5

*219.6*162.8P357.5

*282.5P211.6*597.8

18,9305,108

45,9539,132

4,050.71,979.7

75.2407.7

2,071.01,854.8

1,511.1

369.2

P 219.4P 211.1P 463.3

p 288.1p 227.0P 653.8

21,7126,431

47,2039,680

4,085.52,003.1

73.8408.4

2, 082. 31, 854. 4

1,439. 7

334.8

p 223.0P 208.2v 464.2

P 288.1v 226.3P 651.9

24,1426,313

49,8749,838

4,020.4

1,460.0

316.0

p 224.0p 213.9v 479.0

P 287.2v 222. 5p 639.1

28,0756,912

47,1769,400

4,132.9

1, 651.5

335.2

p 232.2P206.8P408. 1

p 288.5v 226.3v 652.7

4,108.2

1,782.5

327.0

v 231.3*>182. 3P421.7

p 290.2p 227.6v 660.4

3,578.5

1,756.5

323.6

3,832.0

1,751.9

304.2

TRANSPORTATION AND COMMUNICATIONTRANSPORTATION

Air Carriers (Scheduled Service)Certificated route carriers:

Passenger-miles (revenue) bil.Passenger-load factor § percent.

Ton-miles (revenue), totals mil.

Operating revenues (quarterly) 9 O mil. $.Passenger revenues. do . . .Cargo revenues doMail revenues.... d o . . .

Operating expenses (quarterly)© d o . . .Net income after taxes (quarterly)O d o . . .

Domestic operations:Passenger-miles (revenue). bil.Cargo ton-miles mil-Mail ton-miles d o . . .

Operating revenues (quarterly)© mil. $.Operating expenses (quarterly)© d o . . .Net income after taxes (quarterly)© d o . . .

International operations:Passenger-mile (revenue) bil.Cargo ton-miles mil-Mail ton-miles do

Operating revenues (quarterly)© mil. $..Operating expenses (quarterly)© doNet income after taxes (quarterly)© do

Urban Transit Systems

Passengers carried (revenue) mil-

Motor CarriersCarriers of property, large, class I, qtrly.:*

Number of reporting carriersOperating revenues, total _ mil. $..Net income, after extraordinary and prior period

charges and credits mil. $..Tonnage hauled (revenue), common and contract

carrier service _ mil. tons..Freight carried—volume indexes, class I and II

intercity truck tonnage (ATA):Common and contract carriers of property

(qtrly.) cf average same period, 1967=100..Common carriers of general freight, seas, adj.f

1967=100..

Class I RailroadsAFinancial operations, qtrly. (AAR), excl. Amtrak:

Operating revenues, total© 9 mil. $. .Freight— doPassenger, excl. Amtrak do

Operating expenses© do.Tax accruals and rents. . _ . .doNet railway operating income doNetineornd (after taxes) © do

178.9955.4

24,121

17,50314,2661,497

32616,781

451

145.272,909

719

13,89913,324

331

33.722,187

407

3,6053,457

120

5,690

100211,420

2 349

201

137

152.3

18, 57417,433

330

14, 9543,152

4681273

194.7556.2

26,100

19,92516,274

1,719390

19, 017731

156.613,125

751

5,82115,165

497

36.612,302

397

4,1043,852

234

5,979

100213,853

2 452

217

148

166.2

20,11618,916

337

16,3923,377

347284

19.4961.8

2,515

15.62278

60

3.86194

34

'587

167.5

15.6154.1

2,128

5,4234,457

44377

4,964425

12.34269

60

4,2003,911

256

3.27206

31

1,2231,053

169

1003,559

146

54

152

165.6

5,0024,693

844,158

6* - 1 6

16.1655.3

2,255

13.0229262

3.1325432

489

166.8

14.8453.9

2,116

12.2428165

2.6025235

479

163.6

17.0457.4

2,315

5,1694,153

494154

4,957127

14.0127187

4,1453,979

107

3.0420943

1,02397820

492

1003,913

126

58

137

172.9

5,1104,798

4,18482898

199

16.6256.8

2,143

13.4223662

3.2022028

615

162.6

14.5155.1

1,948

12.0325160

2.4915827

610

175.9

18.4560.61,460

5,1154,226

43289

5,01163

15.3230974

4,1514,053

67

3.1219933

964958- 5

691

1003,569

46

54

152

177.3

17.5859.9

2,344

14.3229368

3.2519332

616

192.5

17.9662.1

2,363

14.46

3.5017730

670

182.8

20.5167.6

2,630

5,7034,656

49290

254405

16.5330064

4,5564,205

311

3.9818728

1,1471,049

654

167

178.5

^22.48^68.9

17.7428159

4.7319827

571

177.6

*16. 92

619

177.6

r Revised. P Preliminary. 1 Before extraordinary and prior period items. 2 Annualtotal; quarterly revisions not available. Încludes data not shown separately. 1f Ap-plies to passengers, baggage, cargo, and mail carried. § Passenger-miles as a percent ofavailable seat-miles in revenue service reflects proportion of seating capacity actually soldand utilized. O Total revenues, expenses, and income for all groups of carriers also reflectnonscheduled service. *New Series. Source: I C C (no comparable data prior to 1972).

cf Indexes are comparable for the identical quarter of each year (and from year to year).

AEffective 1976, defined as those with annual revenues of $50 million or more; restated 1977data reflect changes. ©Natl . Railroad Pass. Corp. (Amtrak) operations (not included mAAR data above), 1975 and 1976 (mil. $): Oper. revenues, 235; 287; net loss, 353; 469 (ICC).

«» Domestic trunk operations only (domestic trunks average about 90% of total domesticoperations). b See note 2 for p . S-22. t Effective Mar. 1977 SURVEY, revised back to1957 to new trading day and seas. adj. factors.


October 1978 CUKRENT BUSINESS S-25


1976 1977

Annual

1977


1978

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

TRANSPORTATION AND COMMUNICATION—Continued

TRANSPORTATION—Continued

Class I RailroadsA—ContinuedTraffic:

Ton-miles of freight (net), total, qtr ly ML.Revenue ton-miles, qtr ly. (AAR) do

Revenue per ton-mile cents . .Price index for railroad freight. .1969=100..Passengers (revenue) carried 1 mile mi l . .

Travel

Hotels and motor-hotels:Restaurant sales index same month 1967=100.Hotels: Average room saleif dollars.

Rooms occupied.. % of total.Motor-hotels: Average room saleU dollars.

Rooms occupied % of total.Foreign travel:

U.S. citizens: Arrivals© ...thous.Departures© do.. .

Aliens: Arrivals© do.. .Departures© . . .do . . .

Passports issued . . .do . . .National parks, visits§ . . .do . . .

COMMUNICATION

Telephone carriers:Operating revenues 9 mil. $.

Station revenues _. do...Tolls, message do...

Operating expenses (excluding taxes) do...Net operating income (after taxes) do...Phones in service, end of period. ..mil.

Telegraph carriers:Domestic:

Operating revenues .mil. $Operating expenses do...Net operating revenues (before taxes) do_.

Overseas, total :<?Operating revenues .do. .Operating expenses _ _..do._Net operating revenues (before taxes) do_.

822.5794.12.196186.610,634

12731.32

6322.48

67

7,7007,7556,2645,3822,817

60,521

36,60216,62114,61823,3216,679138.5

527.7423.075.4

349.5256.371.9

826.22.289199.1

10, 295

13934.96

6524.65

70

8,2018,1986,4925,3643,10769,980

40,75418,66716,31226,1207,298149.9

554.8439.686.9

396.9279.4108.4

198.4

13834.98

6926.10

81

1,002801769661271

11,159

3,4881,5571,4502,243631

142.1

47.438.16.7

33.822.99 3

210.9205.3

198.5

13835.20

6725.07

71

719746614500206

6,355

3,4671,5861,3762,291591

143.0

46.837.96.3

34.322.69.7

198.5

15536.68

7625.72

76

760628528471158

5,086

3,5081,6081,3982,232637

143.6

46.737.36.8

34.022.59.8

198.6

13835.70

6724.96

575520457409180

2,634

3,5631,6271,4222,312628

144.2

46.537.6

7.0

34.722.09.4

208.62.294207.75,258

14335.54

5024.66

53

511619535446162

2,050

3,5731,6221,4352,373603

149.9

46.839.07.0

34.924.5

207.6

12438.43

6026.11

63

633592550450217

1,679

3,6401,6421,4872,302661

145.6

44.536.55.4

35.423.89.2

207.6

13938.32

26.80

570586405325239

2,520

3,5851,6451,4062,248654

145.5

44.835.3

34.223.59.0

188.5

r207."7"

15738.09

6727.42

73

711721567420379

2,757

3,7881,6831,5702,447660

146.1

47.935.99.2

38.725.311.8

• 207.8

15539.37

7427.07

74

706662550420351

3,7151,6881,4692,335

685146.4

46.636.6

36.524.410.4

207.9

rl6439.83

7328.55

75

718804603496371

4,986

3,8201,6921,5742,470673

146.9

49.137.5

9.0

38.025.010.3

' 203.4

• 208.2

16939.14

7228.91

78

785917686522380

8,232

1,6941,5602,424

702147.2

48.137.58.5

39.225.411.0

215.2

17436.77

6629.28

78

'30812,047

3,7831,6801,5262,356

712147.5

215.7

29011,037

217. S

215.1

196

CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Inorganic Chemicals

Production:A l u m i n u m sulfate, commercial (17% AI2O3H

thous. sh. t o n s . .Chlorine gas (100% Clj)t d o . . . .Hydrochloric acid (100% H C l ) t d o . . . .Phosphorus, elemental}: doSodium carbonate (soda ash), synthetic (58%

NajO)} _ thous. sh. t o n s . .Sodium hydroxide (100% N a O H ) l d o . . _ .Sodium silicate, anhydroust doSodium sulfate, anhydrous}: doSodium trypolyphosphate (100% NasPsOio)!

doTitanium-dioxide (composite and pure) t . . . d oSulfur, nat ive (Frasch) and recovered:

Production thous. Ig. t o n s . .Stocks (producers') end of period do

Inorganic Fertilizer Materials

Production:Ammonia, synthetic anhydrcusj

thous. sh. tons. .Ammonium nitrate, original solution} doAmmonium sulfatei _ doNitric acid (100% HNO 3 ) t d o . . . .Nitrogen solutions (100% N)t doPhosphoric acid (100% P5O6)t do . ._ .Sulfuricacid (100% H2SO4)t doSuperphosphate and other phosphatic fertilizers

(100%P2O6):Production thous. sh. tons . .Stocks, end of period do

Potash, deliveries (KjO)© doExports, total 9 do

Nitrogenous materials. doPhosphate materials doPotash materials do

Imports:Ammonium nitrate doAmmonium sulfate doPotassium chloride doSodium nitrate do

1,23010,3782,496

437

2,34410,516

7471,232

724713

19,4025,563

16,7167,1862,0107,8922,0687,95533,300

5,824469

1 6,16018,324

1,23912,351

1,670

312566

7,475103

1,16210,6642,568

431

1,81210,481

7811,241

709679

1 9,3895,469

17,3987,454

31,9047,8772,6408,456

35,821

6,699573

7 6,30923,108

1,16916,741

1,650

361327

8,229157

11289424332

161855

7995

6163

7875,552

1,552585195670222702

2,955

564407756

2,043108

1,467173

1910

7570

9489421634

147862

6194

5862

7685,446

1,500

eo7125660229719

3,011

590471497

2,311151

1,666214

1310

85219

100926229

1528876295

6157

7705,401

1,476636150680209757

3,137

604552363

2,101124

1,561

19

50518

•• Revised. v Preliminary. ' Annual total; monthly revisions are2 For mon th shown. 3 Reported annual total; see note 6 for this page.

not available.4 Because of an

data

10283322235

15585271115

5655

7765,413

1,424610(6)663224640

2,S00

507631408

1,984174

1,420179

21365530

10386822436

14084266102

5949

8015,469

1,460564(6)629220699

2,991

541573318

2,251132

1,538112

462164212

9781621533

1078186799

5947

792

5,478

1,391612155643199693

3,041

556600458

* 2,165*168

«1,272* 154

4748609

825212

()79865104

5754

7355,441

1,208530157595173718

3,031

562571447

1,924153

1,34080

212754530

10281323036

()82366104

6160

8095,389

1,435701160767227830

3,365

673506687

2,150192

1,448162

543185116

95890253

()86764115

6367

7805,352

1,558689177736224830

3,319

627400789

1,69073

1,32158

8159

66913

10787522437

()86168

114

5866

5,368

1,553640168719218822

• 3,410

471692

1,831129

1,306119

5326

81221

'884'221

39

()86467

104

5963

8115,437

1,424563

'164'625'210

768• 3,250

'569'494

5572,293

1481,368

205

3737

8495

948221

39

()935

6287

5860

••8105,519

1,364514172600203732

3,101

573461417

2,596364

1,431210

223

73515

7945,489

'5982,651

4061,496

237

1311

6820

OEffective 1976, data are c<and refer to air travel; travel by

o ng figures from individual companies. 7 See" © " n o t e , this page. A See " A " note, p . S-24. f Average daily rent per occupied room,not scheduled rates. 9 Includes data not shown separately.

© Effective June 1978 SURVEY, data beginning Jan . 1977 exclude potassium magnesium sul-fate; comparable data for Jan .-Mar. 1977 are (thous. of short tons) 512,414, and 781 respectively.

sompiled by U.S. Dept. of Transportation from I N S records™ . . . „ . . . . by sea is omitted (for 1973-75, average annual arrivals and de-partures by sea are as follows—units and order as above: 814; 784; 159; 129).

§ Effective Jan. 1976, data include visits to Voyageurs National Park (no count of visits forearlier periods is available); da ta for Mar.-July 1976 are restated to delete visits to P la t t Na-tional Pa rk which was reclassified as a national recreation area.

(Încludes data for Western Union In t . Cable & Wireless.JMonthly revisions back to 1971 are available upon request.» For J u l y - D e c , 1977.


S-26


1976

SURVEY OF CURRENT BUSINESS

1977

Annual

1977


October 1978

1978


CHEMICALS AND ALLIED PRODUCTS—Continued

CHEMICALS—Continued

Industrial GasesJProduction:

Acetylene -mil. cu. ft.Carbon dioxide, liquid, gas, and solid

thous. sh. tons.Hydrogen (high and low purity) mil. cu. ft.Nitrogen (high and low purity) . . . d o . . .Oxygen (high and low purity) do . . .

Organic Chemicals cfProduction:

Acetylsalicylic acid (aspirin) . . .mil . lb.Creosote oil . mil. gal.Ethyl acetate (85%) ..mil. lb.Formaldehyde (37% HCHO) do . . .Glycerin, refined, all grades do._.Methanol, synthetic .mil. gal.Phthalic anhydride.. mil. lb.

ALCOHOLJEthyl alcohol and spirits:

Production mil. tax gal.Used for denaturation. .do . . .Taxable withdrawals. do . . .Stocks, end of period. do . . .

Denatured alcohol:Production mil. wine gal.Consumption (withdrawals) do. . .Stocks, end of period do. . .

PLASTICS AND RESIN MATERIALS

Production:Phenolic resins mil. lb.Polyethylene and copolymers do. . .Polypropylene do.. .Polystyrene and copolymers do . .Polyvinyl chloride and copolymers do.. .

MISCELLANEOUS PRODUCTS

Explosives (industrial), shipments, quarterlymil. lb

Paints, varnish, and lacquer, factory shipments:Total shipments mil. $

Trade products. _ _ do. .Industrial finishes do . .

7,111

'2 ,064r 82,099288,867388,446

128.3177.1

' 215.65,449.3

321.2i 940.1i 902.4

499.6415.978.485.3

225.3225.6

3.2

11,305.318.774.712,551.014,742.914.544.8

2,543.0

4,678.02,446.42,231.7

' 5, 972

' 2, 25684,459

' 331,545

26.9i 161.21160.8

16,085.0286.0

i 972.5i 931.6

498.3404.6

81.071.4

223.8224.6

2.6

i 1,664.0i 9,945.512,712.01 5,178.6i 5,153.4

2.675.1

4,517.72,278.52.239.2

'515

••223r 7,32628,73133,029

2.413.111.2

491.627.490.572.9

40.936.77.5

81.4

19.820.12.7

138.4874.7197.8423.9439.2

445.1239.6205.4

••472

' 201r 6, 81529,23631,222

1.713.57.8

512.626.670.372.1

41.035.07.0

18.718.62.7

146.3841.5218.9423.1417.8

707.4

410.7207.0203.7

'463

' 199'7,30929,50833,798

1.211.514.4

546.725.682.873.7

44.632.2

7.471.9

17.818.12.4

151.1891.0239.1441.7451.9

368.3173.1195.2

'456

'183p7,09829,21031,033

1.813.014.4

533.324.683.368.1

48.831.67.6

72.9

19.919.42.9

144.1834.1224.3468.9417.4

350.5165.2185.2

'454

' 182' 7,10730,14732,606

2.314.213.9

481.824.588.082.9

39.725.17.5

71.4

16.016.22.6

131.3808.8227.6434.7392.3

647.4

305.9140.7165.2

431

1477,041

31,85332,012

2.78.4

15.4488.423.865.372.5

35.835.1C.9

68.3

19.119.22.5

136.6845.1235.7413.3430.2

319.1149.4169.8

413

1586,591

28,90230,001

2.18.3

16.7477.721.062.572.6

41.132.45.8

75.2

17.417.12.8

138.2739.4210.8396.5413.8

341.1160.7180.3

422

1897,809

33,49734,409

3.013.617.1

571.323.457.785.2

50.437.3

7.578.9

19.919.92.8

154.9916.7253.0467.1477.2

445.6

416.6204.0212.5

450

1907,269

31,77633,694

2.413.112.4

555.123.587.381.5

42.232.17.3

80.8

17.717.72.9

149.1905.2226.8474.9481.0

434

2007,342

33,23537,805

3.211.918.4

550.426.378.092.7

31.337.27.2

74.6

21.321.32.9

148.2915.4232.3479.6501.6

'449

'204r 7,18632,27336,298

3.013.922.5

549.121.877.393.4

48.737.57.5

76.2

20.320.23.0

143.5900.8232.2483.4480.6

809.5

391

1987,52832,27235,973

2.510.119.8

535.820.083.387.2

42.525.4

5.9

17.017.03.1

• 128.8937.1232.0

r 450. 5458.1

2.511.620.4

522.829.479.880.1

142.7960.4260.5427.5469.8

ELECTRIC POWER AND GAS

ELECTRIC POWER

Production (utility and industrial) , totalmil. kw.-hr.

Electric utilities, total.. do.By fuels do.By water power _. do..

P2,037,654,753,948283,706

Industrial establishments, total do..By fuels do.By waterpower .do.

•2,124,0781,903,643220,435

196,086179,40416,682

176,246159,82216,424

166,382149,19317,189

167,059146,66220,397

184,205161,44922,756

197,271172,48824,783

173,676151,26022,416

173,157148,49624, 661

159,749134,40625,343

175,184146,40928,775

187,408162,16625,242

Sales to ultimate customers, total (Edison ElectricInstitute) mil. kw.-hr..

Commercial and industrial:Small light and power§ doLarge light and power§ do

Railways and railroads do.Residential or domestic do.Street and highway lighting .do.Other public authorities do.Interdepartmental do.

Revenue from sales to ultimate customers (EdisonElectric Institute) mil.

GAS

Total utility gas, quarterly(American Gas Association):

Customers, end of period, total.. -thous.

Residential . . . d o .CommerciaL do.Industrial do.Other.. _do.

Sales to customers, total tril. Btu.

Residential. do.C ommercial _ _ _ do.Industrial do.Other.. do.

1,849,625

440,625725,169

4,337613,072

14,41345,625

6,383

53,462.!

45,127

41,5193,3772 179

2 53

14,814

5,0142,423

2 7,107

Revenue from sales to customers, total mil. $..

Residential do..Commercial do.Industrial do.Other do.

2 270

23,701

9,9414,075

2 9,3742 311

1,950,791

469,227757,168

4,212652,345

14,41846,242

7,179

62,610.0

45,447

41,8413,3742 1792 53

14,244

4,7872,306

2 6,853

176,889

44,34564,971

33261,541

1,1234,009

569

5,967. 7

172,074

43,16765,140

32957,687

1,1633,977

611

5,819.1

45,009

160,715

39,29764, 650

32250, 599

1,2443,841

763

5,349.1

153, 250

36, 72562, 973

34847, 568

1,3133,741

582

5,013.6

162,654

38,30662,479

37155,611

1,3593,916

612

5,259.7

45,447

174,427

39,92263, 348

41564,624

1,3964,135

587

5,674.5

169,924

39,49859,724

42164,283

1, 2584,172

567

5,626. 9

2 298

27,691

11,1794,671

211,4782 363

41,4633,317

17752

2,629

418290

1,861

60

4,973

1,217

41,8413,374

179

53

3,599

1,1705721,783

74

164, 064

38,46760,150

37759, 283

1,2273,978

583

5, 646. 4

46,172

42,4453,490

18354

5,312

2,4391,066

153,146

36,00161,706

33649,722

1,1703,643

568

5,277.1

153,813

36,25265,057

31646, 764

1,1193,719

586

5,278. 2

165,403

40,36567,449

35351,533

1,1014,005

597

5,802. 3

45,580

1,692115

41,9843,373

17251

3,180

960492

1,662

3,07281

7,321

2,8531,2423,132

95

11,166

5,6852,3303,019

132

66

6,861

2,5171,1183,128

97

' Revised. * Preliminary. 1 Reported annual total; revisions are not distributed tothe monthly data. 2 Beginning 1976, Industrial includes electric generation, prior to 1976,electric generation was included with other. §Data are not wholly comparable on a year

to year basis because of changes from one classification to another. d"Data are reported onthe basis of 100 percent content of the specified material unless otherwise indicated.

JMonthly revisions back to 1973 are available upon request.




1976 1977

Annual

1977


1978


FOOD AND KINDRED PRODUCTS; TOBACCO

ALCOHOLIC BEVERAGES?Beer:

Production. mil. bbl.Taxable withdrawals doStock*, 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 do . . .Stocks, end of period .do

Imports .mil. proof gal-

Rectified spirits and wines, production, totalmil. proof gal.

Whisky do . . .Wines and distilling materials:

Effervescent wines:Production mil. wine gal.Taxable 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} doStocks, cold storage, end of period do

American, whole milk . . .doImports. doPrice, wholesale, American, single daisies (Chi-

cago) $ per lb..Condensed and evaporated milk:

Production, casegoodst mil. lb..Stocks, manufacturers', case goods, end of month

or year mil. lb_.Exports:

Condensed (sweetened) doEvaporated (unsweetened) do

Fluid milk:Production on farms} doUtilization in mfd. dairy products} doPrice, wholesale, U.S. average} $ per 100 lb._

Dry milk:Production:

Dry whole milk} mil. lb . .Nonfat dry milk (human food)} do

Stocks, manufacturers', end of period:Dry whole milk .doNonfat dry milk (human food)} do

Exports:Dry whole milk doNonfat dry milk (human food) do

Price, manufacturers' average selling, nonfat drymilk (human food)} $ per lb . .

GRAIN AND GRAIN PRODUCTS

Exports (barley, corn, oats, rye, wheat) __ .mil. bu . .Barley:

Production (crop estimate) A doStocks (domestic), end of period do

On farms doOff farms do

Exports, including malt § doPrices, wholesale (Minneapolis):

No. 2, malting $ per bu._No. 3, straight do

Corn:Production (crop estimate, grain only)Amil. bu . .Stocks (domestic), end of period, total do


Exports, including meal and flour doPrice, wholesale:

Weighted avg., selected markets, all grades$ per bu . .

Oats:Production (crop estimate)A mil. bu . .Stocks (domestic), end of period, total do


Exports, including oatmeal doPrice, wholesale, No. 2, white (Minneapolis)

$per bu . .

163.66150.3912.91

160.421 425. 89

216.40752.85112.71

79.12126.67692.3492.07

107.7141.85

20.5919.228.742.56

405.78298.25473. 7256.36

344.77

978.647.1.944

3, 320. 22,048.8

478.4411.3206.8

932.1

70.6

4.444.5

120,26963,630

9.66

78.1926.2

9.1

31.610.3

.634

2,813.6

3 372.5271.2153.7117.552.1

3.113.06

3 6,266.44,889.53,345.51,544.01,748.0

2.56

3 546.3412.5339.073.5

12.1

1.74

170.55156.9412.42

159.381 432.56

219.41706.86112.94

80.60127.02649.0091,15

110.4441.50

22.8621.358.562.93

409.74' 310.36505.3665.79

276.55

1,085.6184.91.015

3,357. 92,042.4

468.6404.7209.4

1.187

818.9

75.2

4.128.8

122,95765,8799.72

69.41,106.0

6.060.7

23.838.8

.665

2,586.1

3 415.8328.0217.8110.372.8

2.452.64

3 6,370.65,463.03,788.81,674.21,596.2

2.22

3 747.9563.0480.482.6

11.2

1.34

15.3114.6414.44

11.40

33.2619.79

728.337.21

6.1711.40

672. 335.82

9.843.65

2.131.57

10.60.24

19.5825.93

298.786.39

19.87

77.8208.61.037

275.6164.9

592.9519.716.6

1.194

73.4

158.7

.21.5

10,3975,6139.66

6.5106.0

6.5109.6

2.14.9

.681

225.1

1.841.86

121.6

1.86

1.1

1.04

13.3012.8913.57

13.82

34.3319.18

725.5111.58

6.1611.22

668.179.33

9.523.72

2.022.13

10.41

123.6825.98

392.226.97

89.85

75.0203.31.051

251.7141.4

553.9483.318.7

1.205

59.7

148.6

.42.7

9,8504,9379.97

4.777.6

6.381.7

2.04.8

.679

257.6

403.3264.0139.3

9.5

2.212.09

* 884.1* 446.14 438. 0

137.5

674.8559.115.5

.5

1.12

12.6111.6513.53

15.06

34.9321.60

718.5013.27

6.9913.63

661.1410.91

10.604.17

2.702.86

10.12.27

155.1126.86

505. 225.55

74.00

84.5195.41.056

256.8146.2

502.8437.517.7

1.206

53.5

134.3

.22.8

9,8444,83810.10

4.370.3

5.868.0

1.71.4

.679

198.0

2.232.27

119.2

1.86

1.3

1.17

12.0211.4813.02

13.78

43.8421.18

712.0211.59

5.6512.76

653.859.70

10.253.67

2.673.279.36

51.2427.56

513.132.92

24.88

81.5193.41.050

247.7135.4

479.8417.415.2

1.211

47.1

101.0

.32.3

9,4294,59110.20

4.265.1

5.967.4

1.53.1

.680

207.2

2.4

2.332.32

143.3

2.08

3.1

12.0111.5112.42

12.21

54.6319.24

706.8611.53

5.1110.89

649.009.29

10.634.12

2.192.718.56.32

25.9928.00

505.365.34

7.55

89.5184.91.060

281.6160.1

468.6404.743.5

58.8

75.2

.33.0

9,7704,99410.20

4.978.06.0

60.7

1.14.2

.681

249.6

328.0217.8110.3

4.0

2.332.32

5,463.03,788.81,674.2

153.5

2.23

563.0480.482.6

2.5

1.34

12.8710.6913.92

11.88

30.5518.28

701.168.29

5.2510.11

643.656.59

9.953.95

1.721.049.06.21

6.2225.20

478.445.61

4.81

108.3195.71.047

274.0163.6

460.2394.414.5

1.229

56.2

59.7

5« 4. 3

9,9885,39810.20

6.879.7

6.061.4

5 6 6.8

.681

6 195.5

1.6

2.342.22

6 1 2 7 . 1

2.23

.5

1.32

12.7111.0112.02

11.29

30.1616.87

691.798.65

5.409.70

633.826.76

8.002.70

1.51.97

9.59.18

3.9921.23

461.305.39

5.49

95,7215.91.035

260.6154.3

442.6378.114.1

1.241

52.1

52.9

3.9

9,3415,09310.20

4.570.6

5.455.2

224.2

.5

2.302.27

128.0

2.30

1.33

15.8614.1814.56

11.84

38.4221.12

690.809.74

5.4512.08

633.437.63

10.003.42

1.841.259.84.29

4.7931.63

434. 926.62

2.45

97.7235.61.059

311.8182.9

431.0365.316.7

1.246

67.3

52.1

2.6

10, 5285,87110.20

7.184.46.1

49.8

4.3

.680

237.1148.189.0

.3

2.292.27

3,842.12,484.81,357.3

157.0

2.44

417.2356.061.2

1.34

15.6313.6015.01

13.69

33.8220.15

11.52

6.3911.58

629.079.04

2.81

10.19.30

5.7025.65

411. 297.26

1.57

98.5245.61.084

306.2190.8

448.2379.813.6

1.259

68.9

57.4

3.6

10, 6865,90310.10

7.496.4

7.379.1

.705

271.3

2.3

2.382.38

160.9

1.42

16.5615.0014.97

15.15

17.44685.96

9.29

7.779.52

627.727.12

9.363.10

1.941.71

10.67.40

4.8125.62

348.02

1.90

96.7264.61.088

328.7208.2

462.3392.113.8

1.259

82.4

79.4

3.5

11,2196.29910.00

8.0103.0

8.486.8

6.0

335.8

2 4104.02 4 67. 6

3.3

2.492.44

22,800.221,811.6

8.6207.3

2.62

2*309.5256.1453.4

1.1

1.44

16.8815.8214.57

14.95

20.61683.3610.94

6.8011.37

624.898.70

9.793.36

1.24.83

10.22.40

4.5126.34

355.008.64

3.56

84.7280.91.093

332.9209.3

501.1424.313.0

1.259

78.8

101.4

3.2

10,9286,29510.00

6.9113.5

9.594.7

.710

334.4

2.352.34

2.52

1.36

16.7415.2919.81

7.63

15.63678.12

9.08

3.098.68

619. 706.99

7.463.03

1.921.13

10.97.28

2.5323.32

320.448.18

1.46

73.7312.71.117

297.0183.4

501.6425.516.4

1.260

73.8

120.2

2.3

10,5985,68710.10

'8.2

9.495.0

.713

288.3

5.2

2.122.10

171.3

2.47

1.25

9.80

.30

8.06

64.2282. 41.207

284.6167.5

• 491.1418. 022.7

1.321

69.0

134.4

2.1

10, 2595,323

r 10. 50

5.578.6

9.374.9

327.6

5.0

2.142.11

180.3

2.31

5.4

1.27

263.31.220

473.7399.9

1.340

9,732

10.80

7 438. 4

2.262.29

'6,823.7

2.247 595. 9

1.37r Revised. P Preliminary. i Includes Hawaii, not available on a monthly basis;

monthly revisions for 1976 will be shown later. 2 Stocks as of June 1. 3 Crop estimate forthe year. 4 Previous year's crop; new crop not reported until Oct. for corn and June forbarley and oats (beginning of new crop year). 5 Beginning Jan. 1978, data for condensedand evaporated milk are reported under the single heading "total milk and cream, con-

densed and evaporated"; data for dry whole milk and nonfat dry milk are under the heading"total dry milk, whole and nonfat." 6 See corresponding note for p. S-29. 7 Oct. 1estimate for 1978 crop. § Excludes pearl barley. 9 Scattered monthly revisions back to1973 are available. } Revised monthly data back to 1973 are available. A Revisedcrop estimates for 1970-74 are available.




1976 1977

Annual

1977


1978


FOOD AND KINDRED PRODUCTS; TOBACCO—Continued

GRAIN AND GRAIN PRODUCTS—Con.

Rice:Production (crop estimate) A mil. bags 9 -.California mills:

Receipts, domestic, rough mil. lb..Shipments from mills, milled rice doStocks, rough and cleaned (cleaned basis), end

of period ...mil. lb..

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, No. 2, medium grain (South-

west Louisiana)... $ perlb..

Rye:Production (crop estimate)A--- ...mil. bu..Stocks (domestic), end of period -doPrice, wholesale, No. 2 (Minneapolis)..$ per bu..

Wheat:Production (crop estimate), total A mil. bu..

Spring wheat A do—Winter wheat A... do

Distribution, quarterly d1 do

Stocks (domestic), end of period, total doOn farms doOff farms do

Exports, total, including flour. .do....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., selected markets, all grades

$ per bu_.

Wheat flour:Production:

Flour.. thous. sacks (100 lb.)--Offal thous. sh. tons..

Grindings of wheat thous. bu..Stocks held by mills, end of period

thous. sacks (1001b.)..Exports ...doPrices, wholesale:

Spring, standard patent (Minneapolis)$ per 1001b..

Winter, hard, 95% patent (Kans. City) --do—.

LIVESTOCK

Cattle and calves:Slaughter (federally inspected):

Calves thous. animals..Cattle ...do....

Prices, wholesale:Beef steers (Omaha).. ..$ per 100 lb..Steers, stocker and feeder (Kansas City).-doCalves, vealers (So. St. Paul)t- ...do

Hogs:Slaughter (federally inspected)--thous. animals..Prices:

Wholesale, average, all weights (Sioux City) ©$ per 1001b.

Hog- corn price ratio (bu. of corn equal in valueto 1001b. live hog).

Sheep and lambs:Slaughter (federally inspected).--thous. animals.Price, wholesale, lambs, average (Omaha)

$ per 1001b .

MEATSTotal meats (excluding lard):

Production, totalf mil. lb..Stocks, cold storage, end of period 0 doExports (meat and meat preparations) doImports (meat and meat preparations) do

Beef and veal:Production, totalf doStocks, cold storage, end of period O doExports do__.Imports doPrice, wholesale, beef, fresh, steer carcasses, choice

(600-700 lbs.) (East Coast).. $ per lb..

Lamb and mutton:Production, totalt... mil. lb.Stocks, cold storage, end of period do

i 115. 6

2,2201,492

158

9,5635,481

2,682

4,640

.140

1 15.08.9

2.92

' 2,1421582

i 1,5601,748

1,781.8665.4

1,116.4

1,001. 3968.9

4.103.50

3.87

259, 4834,643

584,082

4,33413,907

9.509• 8.303

4,43838,992

39.1137.6545.18

70,454

43.19

17.5

6,474

47.84

39,0605 733

1,305U.868

26,4805 464

821,467

.644

36115

»99.2

2,2151,460

214

9,5576,217

2,629

4,995

.152

U7.09.0

2.39

12,0261499

i 1,5271,820

1,990.0829.4

1,160.7

905.8863.9

2.802.62

2.88

261,4054,622

586,145

4,16017,994

7.1606.246

4,69638,717

40.3838.7448.19

74,018

41.12

19.9

6,133

53.38

39,172567

1,3151,741

25,78032793

1,377

.662

34110

305245

149

1,242518

1,087

494

.145

1.82

2 741

2,397.61,032.21,365.3

96.193.4

2.592.35

2.55

23,023410

51,712

1,146

5.913

4113,489

40.1139.6146.20

6,148

44.34

26.3

553

51.87

3,404569110158

2,30136110129

.661

85121

82

3,474556

2,763

511

.150

14.52.23

110.2108.5

2.862.52

2.82

22,039378

49,258

3,537730

7.0256.088

4033,320

40.3539.0441.54

6,514

41.39

25.2

568

55.75

3,354579125167

2,1933568

140

.667

18936

166

753531

2,693

188

.154

2.20

69.468.3

2.922.60

3.04

22,054383

49,360

473

7.1886.325

3923,282

42.2940.1842.50

6,507

40.97

23.9

525

56.88

3,345532106117

2,165311895

.694

261149

191

779545

2,647

634

.205

2.55

58.556.7

3.022.84

3.13

22,445389

50,166

766

7.3386.575

3,244

41.8338.7940.98

6,885

39.44

20.1

477

50.00

3,41656510987

2,148301

871

.690

27

15780

214

630443

2,629

464

.215

9.02.55

408

1,990.0829.4

1,160.

89.686.7

2.942.88

3.05

23,363410

52,106

4,1601,237

7.2006.488

3873,200

43.1339.7140.50

6,186

44.13

21.2

441

58.50

3,241567124212

2,10832710171

.715

11462

217

344433

2,474

204

.215

2.67

8 66.364.6

3.042.90

3.12

21,787381

48,430

8 723

7.5886.988

3,238

43.6242.8540.50

5,969

46.08

22.0

425

64.00

3,214560

8 109138

2,1403278 30103

.723

10961

228

282505

2,231

427

2.57

94.994.5

3.072.99

3.14

21,783385

48,910

147

7.3256.675

3363,046

45.0246.8943.75

5,840

49.26

23.6

390

67.50

3,044574101155

2,00933135

118

.747

17299

237

266520

294

.215

5.92.95

466

1,524. <638.8886.1

107.4103.3

3.133.16

3.27

24,330430

54,821

4,0961,774

7.650

3,243

51.3947.60

6,794

47.77

21.8

487

69.38

3,341660115183

2,133370

27141

.782

28

9363

226

131

463

1,638

339

.205

3.02

3*1,174.33 * 492.2

107.8101.8

3.323.34

3.37

22, 554385

50, 478

2,554

8.6388.250

3042,969

52.5253.8169.45

6,213

46.22

20.0

430

62.75

3,079748108202

1,96038532

161

.846

25

17081

165

101455

1,287

364

.190

3M.03.23

3 * 682.1

124.2118.8

3.353.26

3.40

24,078417

53,601

2,297

8.3887.463

2883,215

57.2859.8577.26

6,298

49.25

20.9

451

71.00

3,268761108181

2,11840030

147

.922

179140

239

109434

952

694

2.96

2 351

115.1108.8

3.273.20

3.34

23,051402

51,544

3,4592,694

8.1007.225

2713,052

55.3857.4273.28

5,778

48.19

20.9

441

59.50

3,07872199

167

2,00738532

133

.897

55

229

110385

684

347

.185

2.39

110.0106.1

3.183.20

3.22

22,376388

50,005

1,674

8.2507.600

2612,869

54.5958.6775.72

5,402

46.94

20.9

406

60.00

2,88264293

161

1,89734428

123

.878

10361

237

1,005500

842

325

.175

2.19

136.9131.9

3.183.12

3.31

2,145

7.9387.575

3043,247

52.4058.2281.66

6,227

48.83

••24.0

438

59.25

3,272••582

119137

2,146'325

35107

.840

• 137. 8

.145

•28.6

2.37

1,778.49534.7

1,243.7

3.303.27

3.34

7.8257.550

2753,027

54.2660.2383.25

6,203

50.34

24.8

435

62.50

2,018342

.854

2511

r Revised. * Crop estimate for the year. 2 See "d"" note, this page. 3 Stocks as ofJune 1. * Previous year's crop; new crop not reported until June (beginning of new cropyear). »See " O " note, this page. 'Average for 11 months (Jan.-June, Aug.-Dec).

7 Reflects revisions not available by months. 8 See note 6 for p. S-29. 9 Oct. 1 esti-mate for 1978 crop. 9 Bags of 100 lbs. d" Data are quarterly except that beginning1975, June figures cover Apr., and May; Sept. covers June-Sept.

O Effective April 1977 SURVEY, data beginning Feb. 1976 are restated to exclude cooler meats;comparable earlier data will be shown later. t See corresponding note, p. S-29. © Ef-fective July 1977 SURVEY, monthly prices are restated through May 1977 to coincide withpublished annual averages which are for "all weights, excluding sows"; comparable monthlydata prior to May 1976 will be shown later. ARevised crop estimates for 1971-1974, prio. ._are available.


October 1978 SUKVEY OF CURRENT BUSINESS S-29


1976 1977

Annual

1977


1978


FOOD AND KINDRED PRODUCTS;

MEATS—Continued

Pork (excluding lard):Production, totalt mil. lbStocks, cold storage, end of periodA doExports doImports -__do._Prices, wholesale:

Hams, smoked composite .$ per lb . .Fresh lcins, 8-14 lb. average (New York)...do..

POULTRY AND EGGSPoultry:

Slaughter (commercial production) mil. l b . .Stocks, cold storage (frozen), end of period, total

mil . lb . .Turkeys do

Price, in Georgia producing area, live broilers$perlb_.

Production on farms t - - -mil. cases©..Stocks, cold storage, end of period:

Shell thous. cases©..Frozen mil. lb

Price, wholesale, large (delivered; Chicago)$ per doz__

MISCELLANEOUS FOOD PRODUCTS

Cocoa (cacao) beans:Imports (incl. shells) . . .thous. Ig. tons..Price, wholesale, Accra (New York) $ per lb . .

Coffee (green):Inventories (roasters', importers', dealers'), end

of period _ thous. bagscf..Roastings (green weight) do

Imports, total doFrom Brazil do

Price, wholesale, Santos No 4 (N Y ) $ per lbConfectionery, manufacturers' sales mil. $..

Fish:Stocks, cold storage, end of periodj imil. lb__

Sugar (United States):Deliveries and supply (raw basis):§

Production and receipts:

Deliveries, total doFor domestic consumption do

Stocks, raw and ref., end of period do

Exports, raw and refined sh. tons..

Imports:Raw sugar, total thous. sh. tons..

From the Philippines doRpfined sncRr total do

Prices (New York):Raw, wholesale. _ $ per lb_.

Retail (incl. N.E. New Jersey) $ per 5 lb .Wholesale (excl. excise tax). ..$ per lb_.

Tea, imports thous. lb_.

FATS, OILS, AND RELATED PRODUCTS

Baking or frying fats (incl. shortening):Production}: mil.lbStocks, end of period© do

Salad or cooking oils:Production t 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:

Production (quantities rendered) mil. lb.Consumption in end products . . d o . . .Stocks, end of period^. _ . d o

Tallow and grease (except wool), inedible:Production (quantities rendered) J . . doConsumption in end products! _do._.Stocks, end of period^ do . . .

12,2193 212

311*318

.855

.977

11,739

363203

.240

179.2

2826

.678

235.41.092

2,80519 063

19,7883,092

2 1 2282 912

371

5 748

10,92410 8563,341

69,735

4,331900214

.135

1.262.190

181,304

3,913. 4127.7

4,343.0104.0

2,629.767.2

.443

535.5660.547.5

5,674. 63, 367.2

354.8

13,051186289298

!952

11,916

310168

.237

179.3

3930

.624

172.12.144

1,68414,233

14,8082,453

3 059

420

5 053

11,24511 2104,352

20,335

5,1301,136

656

.109

1.118.169

< 203,012

3,841.1113.0

4,346.9105.4

2,535.079.9

.507

598.5787.942.4

6,106.33,180.4

347.2

1,0741452324

.801

.979

1,179

485330

.240

14.9

4735

.593

10.81.993

69571

O Q Q

393

73

1,1301,1282,019

727

47478

g

.110

1.115.172

15,932

325.1125.8

374.890.6

198.268.6

.518

43.468.451.8

530.9275.0362.3

1,1301582722

.776

.986

1,115

566409

.235

14.8

5034

.593

6.22.560

2,6382 364

6785

343

424

147

1,0051,0001,951

1,764

56918124

.108

1.134.165

9,994

325.5117.9

364.988.7

209.158.9

.535

47.674.933.5

516.4267.2363.7

1,1511662618

.889

.984

1,092

599444

.225

15.6

5233

.537

8.12.500

6351

O O Q

412

681

914914

2,259

807

4818416

.098

1.112.155

9,702

343.6112.1

376.2109.3

221.874.0

.513

63.972.332.0

510.6275.2355.5

1,2412092812

.971

.901

1,028

418269

.210

15.4

5031

.550

4.72.500

9723

279

426

1 067

958957

3,009

494

41814120

.114

1.133.191

7,213

347.9109.6

386.2101.5

229.070.0

.513

65.267.833.7

521.7259.4324.9

TOBACCO—Continued

1,1081862534

1.0131.029

969

310168

.205

16.1

3930

.615

5.52.500

1 6843 878

1,347108

97c

420

997

836832

4,352

1,376

56248

469

.114

1.045.185

10,924

342.1113.0

436.8105.4

244.779.9

.500

68.968.642.4

509.9257.8347.2

1,051174«32

29

.8571.038

932

304168

.230

15.9

5028

.552

19.42.500

1,682209

252

384

602

766764

4,352

« 4,312

7 277M18(8)

.114

1.155.187

9,023

312.4138.8

391.1127.7

219.861.8

.500

64.066.648.7

483.2254.8352.0

1,0131742625

.9321.066

831

263137

.240

14.1

4126

.628

20.32.500

1,575129

291

339

374

775772

4,104

881

18949

.114

1.174.201

12,791

305.1125.2

378.1118.3

224.670.3

.500

60.867.049.1

464.2261.9349.0

1,1792172635

.8221.022

981

233113

.240

15.7

3723

.620

27.92.500

2 1614,467

1,707115

271

336

280

930927

3,850

970

44753

.114

1.212.193

18,648

368.2112.1

459.0112.7

243.059.3

.514

74.182.840.6

537.4294.4352.3

1,0932812532

.7591.001

901

210101

.280

15.3

3623

.570

20.52.500

1,557319

207

319

130

864861

3,451

802

6728

.114

1.270.201

15,450

328.0128.4

435.0133.8

186.872.3

.552

60.874.838.3

463.3281.7289. 2

1 125281

3128

.8201.091

1,088

213104

.265

15.7

3022

.520

16.52.500

1,345329

211

324

189

891888

3,326

682

30063

.114

1.268.200

17,523

335.5141.1

413.1128.1

183.763.4

.552

70.071.438.8

500.1296.3292.7

1,0462582526

.8081.129

1,127

257152

.300

15.0

3027

.493

12.42.500

2,2023,550

1,249206

' 193

344

135

1,0331.0293,059

613

33056

.114

1.189.198

8,286

302.2126.1

406.8123.7

194.668.8

.552

65.563.745.4

464.9263.1289.3

9622182329

.8031.102

1,052

326213

.330

15.1

2928

.612

16.12.500

1,316337

184

367

48

905901

'2,729

841

60716

.114

.191

13,141

' 293. 0' 124.2

' 368.8' 130.8

166. 0'67.8

.552

'61.7'62.0'45 .1

' 442. 5' 242. 5

1 ' 309. 6

1,101' 178

3123

.8871.067

1,234

'413'298

.265

15.2

' 5 529

.618

14.72.500

1,12456

'413

*>2,270

747

33554

6.135

.205

13, 788

361.0107.2

410.4134.4

201.060.4

.525

70.370.646.2

490.3273.1343.4

1,095175

.9051.147

476362

.270

15.0

5128

.632

M 3 6

.213

.522

' Revised, v Preliminary. 1 Average for July-Dec: beginning July 1977, prices representMidwest and Los Angeles and are not comparable with those for earlier periods. 2 Aver-age for 2 mos. (May and Sept.). s See " A " note, this page. 4 Reflects revisions not dis-tributed to the months, s Estimated price; not strictly comparable with those for earlierperiods. 6 Because of an overall revision to the export commodity classification systemeffective Jan. 1, 1978, data may not be strictly comparable with those for earlier periods.

7 Beginning Jan. 1978, data are for both raw and refined sugar and are not comparable withthose for earlier periods. 8 Beginning Jan. 1978, data are no longer available; see note 7,this page.

©Cases of 30 dozen. d"Bags of 132.276 lb. §Monthly data reflect cumulative revisionsfor prior periods. ©Producers' and warehouse stocks. If Factory and warehousestocks. t Monthly revisions back to 1974 are available. AEiTective April 1977 SURVEY,data beginning Feb. 1976 are restated to exclude cooler pork; comparable earlier data willbe shown later. t Revised series. Beginning May 1977 SURVEY, data represent total com-mercial slaughter (excluding rendered pork fat and lard), whereas the price for calves(p. S-28), represents a different market. Comparable data prior to Mar. 1976 will be shownlater.




1976 1977

Annual

1977

July Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr.

1978

May June July Aug. Sept.

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued

FATS, OILS, AND RELATEDPRODUCTS—Continued

Vegetable oils and related products:Coconut oil:

Production, refined. ..mil. lb.Consumption in end products. do. . .Stocks, reiined, end of period H do. . .Imports do. . .

Corn oil:Production: Crude. do. . .

Refined do. . .Consumption in end products... do. . .Stocks, crude and ref., end of period 1f do

Cottonseed oil:Production: Crude do. . .

Refined do. . .Consumption in end products do

Stocks, crude and ref., end of period If doExports (crude and refined) doPrice, wholesale (N.Y.) $ per lb.

Soybean oil:Production: Crude ..mil. lb.

Refined doConsumption in end products... do

Stocks, crude and ref., end of period H doExports (crude and refined) doPrice, wholesale (refined; N.Y.) $perlb.

TOBACCOLeaf:

Production (crop estimate).. mil. lb..Stocks, dealers' and manufacturers', end of period

mil.lb..Exports, incl. scrap and stems thous. lb..Imports, incl. scrap and stems _ do

Manufactured:Consumption (withdrawals):

Cigarettes (small):Tax-exempt ...millions..Taxable do

Cigars (large), taxable. doExports, cigarettes do_._.

849.2990.340.1

1,206.9

692.4562.2517.042.1

984.3819.8578.8

191.6520.9.297

9,639.67,185.47,576.6

1,488.11,088.4

.244

i 2,136

4,978577,997310,393

72,126617,892

4,04161,370

729.4878.739.9

994.3

671.9577.0537.633.4

1,254.6995.7625.3

132.7731.2.299

8,836.57,642.57,451.0

859.21,666.9

U.912

5,0702 628,564316,236

78,133592,018r 3,77566,835

49.171.942.975.0

59.353.249.154.8

63.057.851.8

122.252.5.275

553.6648.4629.8

937.372.0.275

47,50632,360

8,03156,151

3146,442

59.473.140.176.1

53.749.048.245.8

60.148.748.6

79.465.5.245

578.2612.0621.5

766.666.0.249

4,71166,33133,271

7,71649,144

3267,530

56.576.337.929.4

58.951.646.539.5

115.177.847.5

91.535.4.265

821.9686.8658.6

752.1108.8.246

17,85022,997

5,69350, 779

3853,570

61.077.430.775.1

58.048.647.548.3

146.3111.452.6

112.464.2.270

922.3749.8682.3

766.5185.5.260

49,51525,072

5,95251,358

3414,177

55.165.0

94.5

50.149.050.633.4

140.2112.858.5

132.767.2.300

931.5731.0721.9

859.2175.3.285

5,070102,36423,716

6,73442,886

2847,341

58.169.336.665.5

54.947.644.726.7

141.6111.150.0

151.450.6.295

911.9705.6664.1

913.87 113.1

.265

52,53925,925

5,39948,436

2803,716

56.871.035.9

127.1

51.643.243.231.9

129.598.252.3

156.468.2

809.5653.2648.8

856.5141.8.265

55,60426,973

6,76949,326

2716,151

73.081.546.0

102.9

58.751.148.733.4

141.8114.755.6

176.484.9.315

943.3801.4771.7

803.8252.6.320

4,81173,15727,773

7,36255,317

3296,580

70.488.948.272.4

57.144.437.541.2

122.1102.755.7

180.461.6.315

866.9738.0686.5

822.2218.9.319

40,90429,161

6,97350,268

2825,361

68.187.641.298.3

68.053.341.252.3

109.291.363.4

154.659.8.335

908.2732.1662.4

828.7176.4.336

32, 31631,446

6,98154,390

3196,050

69.076.140.779.9

64.748.144.962.9

113.995.265.9

130.763.5.333

795.1649.9640.5

834.4147.2.315

4,45329,17829,661

7,97158,267

3456,616

65.3'73.638.7104.5

60.541.4

'37.7

' 107.891.862.3

106.770.2.340

777. 9636.8596. 2

820.8165.5.320

42,66135,184

5,92544,397

2355,523

70.279.039.083.7

59.755.147.370.9

102.7101.961.3

99.350.0.355

815.5704.7699.1

777.9108.8.316

52,26628,032

7,205

.405

.330

8 2, 011

LEATHER AND PRODUCTS

HIDES AND SKINSExports:

Value, total9 thous. $.Calf and kip skins thous. skins..Cattle hides thous. hides._

Imports:Value, total 9 ...thous. $._

Sheep and lamb skins thous. pieces..Goat and kid skins do.

Prices, wholesale, f.o.b. shipping point:Calfskins, packer, heavy, 9H/15 lb_ $ per lb._Hides, steer, heavy, native, over 53 lb do.

LEATHERProduction:

Calf and whole kip thous. skins.Cattle hide and side kip__thous. hides and kips.Goat and kid thous. skins.Sheep and lamb _ do

552,2762,162

225,270

89,10016,6031,255

3.755

582,9062,508

24,488

96, 60015,4681,137

4.914.370

46,500187

1,937

9,4001,385

72

.900

.368

50,381249

2,157

9,5001,295

151

.900

.348

39,260179

1,631

5,00048244

.338

38,207196

1,572

3,500155

3

.750

.348

52,871336

2,235

8,1001,288

80

.800

M5,523211

1,893

6,700841116

.900

.388

47,562160

2,021

10, 2001,850

227

.900

.378

58,535288

2,270

10,8002,080

143

1.000.373

61,297265

2,375

2,541275

1.100.413

55,370194

2,122

2,245128

1.100.418

55,846199

2,078

1,57745

1.100.458

47,511222

1,725

190

1.200.478

58,797189

2,176

1,32375

1.850.530

1.850.590

Exports:Upper and lining leather thous. sq. f t . .

Prices, wholesale, f.o.b. tannery:Sole, bends, light index, 1967=100..Upper, chrome calf, B and C grades

\ index, 1967=100..

LEATHER MANUFACTURES

Footwear: \Production, total V thous. pairs . .

Shoes, sandals, and play shoes, except athleticthous. pairs. _

Slippers __ doAthletic do_ . . .Other footwear ___do

Exports . . . . . . d o

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 quali ty.--do

2 203,707

5 197.9

2206,276

6 205.8

12,276

207.1

16,838

207.1

12,807

192.7

14,980

201.3

18,240

201.3

717,364

210.0

15,309

212.8

16,408

208.5

16,720

207.1

18, 899

210.0

21,427 14,160

227.2

19, 726

241.6 270.4

422,507

345,43364,88010,0642,130

6,023

179.1

163.8143.4

391,121

309,77065,96112,6422,748

5,411

193.3

171. 8144.9

34,923

27,1746,2841,174

291

475

194.8

170.2143.8

33,200

25,7246,1531,073

250

549

194.8

170.2143.8

34,010

25,8736,8381,018

281

369

197.9

173.3146.8

33,498

26,1536,212

886247

489

197.9

173.3146.8

31,172

25,6054,371

929267

453

197.9

173.3146.8

32,395

26,9554,204

978258

395

200.8

176.9146.8

32,572

26,4984,6981,020

356

378

206.8

176.9146.8

37, 271

29,8955,5201,479

377

585

206.8

176.9146.8

36,173

27,8706,0101,568

725

495

211.4

181.7157.4

36,761

28,8715,9911,578

321

448

211.4

182.9161.3

34,221

26,5165,8301,474

401

514

211.4

182.9161.3

25,458

20,6953,464

951348

454

211.4

182.9161.3

605

213.8

182.9161.3

218.6

187.7161.3

•" Revised. 1 Crop estimate for the year. 3 Annual total reflects revisions not distrib-uted to the monthly data. 3 Average for Jan., Feb., and Apr.-Dec. 4 Average for Jan.-

6 Average for Feb.-Dec. 7 BecauseSept., Nov. and Dec. * Average for Jan.-Nov.

of an overall revision to the export commodity classification system effective Jan. 1,1978, datamay not be strictly comparable with those for earlier periods. 8 Oct. 1 estimate for 1978crop. 9 Includes data for items not shown separately. H Factory and warehouse stocks.




1976 1977

Annual

1977


1978


LUMBER AND PRODUCTS

LUMBER—ALL TYPES 9

National Forest Products Association:Production, total.. .mil. bd. ft_.

Hardwoods doSoftwoods do

Shipments, total do.Hardwoods do.Softwoods do.

Stocks (gross), mill, end of period, total do.Hardwoods do.Softwoods 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 — — d o . .Stocks (gross), mill, end of period. _ do..

Exports, total sawmill products .do.Sawed timber. doBoards, planks, scantlings, etc do

Price, producer:Dimension, construction, dried, 2" x 4", R. L.

$perM bd. ft..

Southern pine:Orders, new mil. bd. ft.Orders, unfilled, end of period .do

Production . . .do.Shipments do..

Stocks (gross), mill and concentration yards, endof period mil. bd. ft..

Exports, total sawmill products M bd. ft._

Prices, producer (indexes):Boards, No. 2 and better, 1" x 6", R. L.

1967=100.Flooring, C and better, F. G., 1" x 4", S. L.

1967=100.

Western pine:Orders, new mil. bd. ft.Orders, unfilled, end of period .do.. .

Production . . .do.Shipments do.

Stocks (gross), mill, end of period do.

Price, producer, Ponderosa, boards, No. 3,1" x 12",R. L. (6'and over) __$perM bd. ft..

HARDWOOD FLOORING

Oak:Orders, new .mil. bd. ft.Orders, unfilled, end of period do.. .

Production do.. .Shipments _do...Stocks (gross), mill, end of period .do.. .

36,4726,44230,030

i36,3286,42629,902

5,111891

4,220

1,9098,178

8,377634

8,3228,293949

602180422

191.24

i 7,467443

i 7,575i 7,477

1,232

140,386

207.5

233.6

9,760554

9,7899,744

1,315

184.31

114.54.2

104.5109.38.9

137,2356,185

31,050

137,5216,297

31,224

4,825779

4,046

1,67010,698

8,712565

8,7968,781

964

488129359

230.38

i 8,317470

i 8,224i 8,290

1,166

157,806

271.0

250.2

10,331590

10,30910,295

1,329

231.53

112.87.9

109.8110.0

6.2

3,290583

2,707

3,358583

2,775

4,787789

3,998

156920

742574

711715901

351124

242.51

798524

759797

1,153

15,682

284.2

254.8

933607

916931

1,317

232.57

11.17.6

10.010.65.1

3,368526

2,842

3,296516

2,780

4,859799

4,060

128938

688502

805760946

308

21

256.92

646447

742723

1,172

14, 242

287.9

259.1

908554

966961

1,322

236.48

9.47.3

10.19.75.4

3,268552

2,734

3,269576

2,693

4,876775

4,101

99858

754495

779761964

258

17

237.27

739434

764752

1,184

9,272

288.6

260.2

870563

833861

1,344

235.28

9.16.4

9.710.05.1

2,839487

2,352

2,859496

2,363

4,855765

4,090

108956

661513

637643958

286

22

218.03

667466

629635

1,178

10,223

290.6

262.4

811557

813817

1,340

215.40

9.86.8

9.39.44.9

2,944456

2,488

2,983455

2,528

4,818770

4,048

142911

816565

770764964

517

44

227. 70

637470

621633

1,166

9,005

294.3

264.6

865590

821832

1,329

226-17

8.17.9

9.17.36.2

2,843442

2,401

4262,273

4,963787

4,176

72865

738607

769696

1,037

28523

238.08

624500

594

1,180

14,712

299.7

267.9

696567

744719

1,354

247.58

9.88.9

8.85.3

2,904430

2,474

2,741456

2,285

5,128763

4,365

94840

712586

810733

1,114

399

29

241.81

591495

622596

1,206

9,784

305.5

269.9

752618

759701

1,412

263.85

8.69.1

8.08.54.8

3,222497

2,725

3,158511

2,647

5,201749

4,452

110939

846649

812783

1,143

521736

246.28

790552

728733

1,210

14,492

313.6

272.4

850636

871832

1,451

264.90

10.810.4

9.99.45.4

3,127571

2,556

3,133574

2,559

5,190752

4,438

125915

757679

745727

1,161

371027

238.48

767563

730756

1,175

14,920

321.5

271.2

739596

790779

1,462

267.57

9.510.7

9.09.25.2

3,203546

2,657

3,355583

2,772

5,038715

4,323

2121,173

807706

745780

1,126

5216

238.43

761588

735736

1,174

12,506

329.7

274.4

877546

865927

1,400

\7 240.07

9.311.6

8.88.55.4

3,333574

2,759

3,548600

2,948

4,877687

4,190

1181,117

833614

816925

1,017

501931

245. 28

696552

728732

1,170

15,495

331.5

274.4

874526

843894

1,349

251. 25

9.310.2

9.110.14.0

2,988597

2,391

3,156574

2,582

4,705706

3,999

931,194

705597

619722914

47444

245.00

668544

669676

1,163

8,991

333.6

276.6

854544

786836

1,299

232. 33

8.511.4

7.27.43.7

1,119

272.06

10,324

337.7

280.6

236. 92

10.511.4

10.43.1

274. 74

343.4

282.1

254. 23

METALS AND MANUFACTURES

IRON AND STEELExports:

Steel mill products thous. sh. tons..Scrap -doPig iron do

Imports:Steel mill products -do.Scrapt. . . .do.Pigiront - - - - do.

Iron and Steel Scrapf

Production .thous. sh. tons..Receipts, net doConsumption doStocks, end of period... .do

Prices, steel scrap, No. 1 heavy melting:Composite (5 markets). $perlg. ton..

Pittsburgh district do.

2,6548,120

57

14,285507415

i 50,035i 41,144i 89,914

19,988

73.6279.10

2,0036,175

51

19,307625373

49,523i 47,873i 92,090

i 9,360

2 55.9980.35

143438

3

1,8316719

4,2074,0517,7349,760

60.6566.50

171598

3

2,0576225

4,1874,0357,6059,917

59. 5364.00

125474

2

1,7624054

4,2444,0937,9859,734

51.7756.00

1484622

3,9623,7097,4309,412

47.1751.00

149475

1

2,0875053

3,9683,7297,3689,360

56.3461.50

160642

1

1,5385344

3,8243,6797,5418,923

66.0473.00

208444

1

2,22046

7

3,7143,8687,3748,797

68.9474.50

1916285

4,7304,3968,3479, 017

71.9077.00

205695

2,1754535

4,4774,2658,4888,779

75.4280.50

255821

1

1,51112738

4,5814,8518,9388,738

71.4675.50

271786

1

1,3605599

• 4,605• 4,509• 8,579• 8, 747

71.3875.00

174756

5

1,7857742

4,1624,1207,7268,879

76.0082.50

7777

1,8707178

75.4078.50

72.8175.50

' Revised. * Preliminary. i Annual data; monthly revisions are not available.2 Effective with Feb. 1977, composite reflects substitution of Los Angeles for San Francisco;

effective July 1977, it reflects addition of Detroit and Houston. Avg. for 1977 is for July-Dec.3 Less than 500 short tons. 9 Totals include data for types of lumber not shown

separately. fEffective Aug. 1976 SURVEY, scrap excludes imports of rerolling rails and pigiron excludes sponge iron imports previously included.

If Effective with 1974 annual and Jan, 1975 figures, data reflect expanded sample and ex-clusion of direct-reduced (prereduced) iron, previously included m scrap series.




1976 1977

Annual

1977


1978


METALS AND MANUFACTURES—Continued

IRON AND STEEL—Continued

Ore

Iron ore (operations in all U.S. districts):Mine production .-thous. lg. tons..Shipments from mines doImports. doU.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 (mn. content), general imports...do—

Pig Iron and Iron Products

Pig iron:Production (excluding production of ferroalloys)

thous. sh. tons..Consumption doStocks, end of period doPrice, basic furnace . $ per sh. ton..

Castings, gray and ductile iron:Orders, unfilled, for sale, end of period

thous. sh. tons..Shipments, total do

For sale -- -doCastings, malleable iron:

Orders, unfilled, for sale, end of periodthous. sh. tons..

Shipments, total doFor sale do

Steel, Raw and Semifinished

Steel (raw):Production thous. sh. tons..

Rate of capability utilization* percent..Steel castings:

Orders, unfilled, for sale, end of periodthous. sh. tons..

Shipments, total doFor sale, total do

Steel Mill ProductsSteel products, net shipments:

Total (all grades) thous. sh. tons.By product:

Semifinished products do...Structural shapes (heavy), steel piling.__do...Plates do...Rails and accessories... do...

Bars and tool steel, total do.Bars: Hot rolled (incl. light shapes) do.

Reinforcing do.Cold finished.. .do.

Pipe and tubing .do.Wire and wire products do.Tin mill products do.Sheets and strip (incl. electrical), total_.-do.

Sheets: Hot rolled do.Cold rolled do.

By market (quarterly shipments):Service centersând distributors© doConstruction, incl. maintenance© doContractors' products doAutomotive ...doRail transportation doMachinery, industrial equip., tools doContainers, packaging, ship, materials-..doOther© do

Steel mill shapes and forms, inventories, end ofperiod—total for the specified sectors:

mil. sh. tons..Producing mills, inventory, end of period:

Steel in process.. mil. sh. tons..Finished steel do

Service centers (warehouses), inventory, end ofperiod mil. sh. tons..

Consumers (manufacturers only):Inventory, end cf period doReceipts during period doConsumption during period do

79,20077,21640,967

117,697114,3242,913

75.03514,02656,2464,763

1,053

86,87086, 9291,513

3 182. 33

83214,1686,859

56848491

128,00080.9

4311,8041,513

»89,447

4,3844,1877,1602,017

114, 234i 8, 664i 3,8761,618

6,2652,4616,43642,30315,09018,265

« 14,615< 7,508

4,50221,3513,0565,1806,914

4 26,371

36.4

12.27.5

6.5

10.262.662.9

54,69854,29637,905

94,944108,462

2,143

59,39014,14042,2712,979

834

81,32882,017

1,309

«183.11

93514,9667,207

65826457

U25,33378.4

4511,7111,483

91,147

i 3,9914,3827,5291,863

15,4209,3624,1791,794

7,4902,4006,382

41,68714,55817,684

U5,3464 7,553

4,50021,4903,2385,5666,714

4 26,740

10.17.6

9.863.463.9

1,8055,5904,961

10,5669,074

147

67,21116,46047,2243,527

87

6,7636,8321,573

178.00

9401,276658

10,39277.2

441131111

7,737

311409581145

1,296757372160

677199656

3,4631,2051,422

35.8

11.56.9

6.9

10.55.35.3

1,7632,4594,245

7,9588,504

2

65,92315,73946,6783,506

110

6,5666,6501,530

191.00

8701,264

10,05077.2

152132

7,662

357362587169

1,297775369146

654203539

3,4931,1641,480

3,8441,95V1,1485,109806

1,3241,7486,446

34.6

10.67.1

10.15.35.7

1,5482,5794,083

7,3518,685

100

63,52314, 69545,3443,484

49

6,6366,7531,419

191.00

8911,355639

10,44277.7

429151131

7,400

359334581155

1,297791343155

657201453

3,3631,1561,407

34.2

10.57.2

6.5

10.05.55.6

1,4501,7404,207

6,3878,185

18

60,74514,37343,3543,018

21

6,1216,2281,356

191.00

8541,235587

9,74875.0

431139122

7,188

321355613140

1,253786314146

639'174400

3,2921,0991,417

33.9

10.27.3

6.5

9.94.95.0

3,8434,0513,145

7,6978,469111

59,39014,14042,2712,979

64

6,4196,4981,309

191.00

9351,077

531

10,03174.7

451132115

7,020

311380636140

1,239731371130

672165431

3,0461,1031,201

3,7461,7691,0514,996

7751,4281,2966,519

34.1

10.17.6

G.6

9.84.64.7

5,1043,871

0

4,4088,735

87

56,34215,35837,9153,069

94

6,3906,4521,271

191.00

9491,090543

10,30177.2

494152135

7,323

352376649136

1,221769284161

636192461

3,3001,1271,382

34.1

10.07.8

6.4

9.95.15.0

4,8202,4751,316

4,1858,321

2

54,09217,70233,7012,689

50

5,9716,0611,200

191.00

9901,161596

9,64380.1

461141124

7,539

344354596132

1,236754307169

708198645

3,3261,1901,373

33.1

9.47.4

6.4

9.95.25.2

6,4252,4891,643

4,6399,048

2

53,08421,68729,1952,202

113

6,8947,0131,108

191.00

1,0091,327

646

11,08383.1

502158138

8,718

425421738157

1,438854384191

804235566

3,9331,4061,644

4,1792,079

9395,117

8201,4771,7907,179

32.6

9.16.8

6.7

10.05.95.8

6,0345,2991,291

6.3639,379390

50,36022,41126,1991,750

49

7,1897,3161,916

191.00

1,9691,301663

11,52888.5

512153133

8,055

434413714146

1,423827412177

737231449

3,5091,2071,445

32.5

9.27.0

6.6

9.75.76.0

7,7518,5582,102

10,90710,114

393

49,86221,59826,9031,361

71

7,9367,969997

191.00

9761,423737

12,32091.5

492168145

8,610

491460767155

1,509884437180

779228502

3,7191,2971,527

'33.7

9.57.3

'7.1

6.26.1

7,9888,7542,182

11,44810,216

403

51,88720,96828,12722,792

55

7,7547,7701,014

191.00

••9841,406'734

11,86191.1

501••162'140

8,787

467444772141

1,524904430182

737235549

3,9181,3491,629

4,7092,497926

5,257856

1,5771,6527,977

33.7

'9.77.0

7.2

'9.86.1

'6.1

7,5599,7573,686

11,7879,940143

51,56118,77229,9392,850

82

••7,6111,068

191.00

9541,145592

11,38885.1

539118102

S93393694111

1,272661359149

643175472

3,4551,1761,430

2 1,332

U,6472 2512 4472 536

2 2,291

10.87.0

10.15.04.7

348

69

7,5157,5251,080

203.00

11,55086.3

457426697123

1,463845436174

698211498

3,7201,316.1,512

1,440849325

1,819307521528

2,505

7,391

203.00

11,46788.6

f Revised. P Preliminary. 1 Annual data; monthly or quarterly revisions are notavailable. 2 For month shown. 3 Avg. for 8 months; price not available for July-Oct.

ZSv n o t e " ® " f o r t h i s P a £ e - 6 A v & - f o r n m o n t h s ; F e b . price not avai lable .New series. Source: American Iron and Steel Institute. The production rate of ca-

pability utilization is based on tonnage capability to produce raw steel for a full order book

based on the current availability of raw materials, fuels and supplies, and of the industry scoke, iron, steelmaking, rolling and finishing facilities. Data prior to 1975 are not available.

©Beginning Jan. 1976, data are not comparable with those for earlier periods since oil &gas supply houses and pipelines, which were formerly shown in "Service centers and distrib-utors" and "Construction, incl. maintenance," respectively, are now included in Other.


October 1978


1976 1977

Annual

O F <JUKIiEJN'l

1977


S1JNE SIS S-331978



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, bars, etc _ do

Exports:Metal and alloys, crude . . .doPlates, sheets, bars, etc... do

Price, primary ingot, 99.5% minimum..$ per l b . .

Aluminum products:Shipments:

Ingot and mill prod, (net ship.)_... mil. lb . .Mill products, total-. do

Sheet and plate doCastings ---do

Inventories, total (ingct, mill products, andscrap), end of period .. .mil. lb..

Copper:Production:

Mine, recoverable copper thous. sh. tons.Refinery, primary d o —

From domestic ores doFrom foreign ores do

Secondary, recovered as refined d o —

Imports (general):Refined, unrefined, scrap (copper cont.)--.do.

Refined _. -do.Exports:

Refined and scrap do.Refined do.

Consumption, refined (by mills, etc.) -doStocks, refined, end of period d o . . .

Fabricators' -do. . .Price, electrolytic (wirebars), dom., delivered

$per lb_.Copper-base mill and foundry products, shipments

(quarterly total):Brass mill products mil. lb..Copper wire mill products (copper cont.)..-doBrass and bronze foundry products do.

Lead:Production:

Mine, recoverable lead thous. sh. tons.Recovered from scrap (lead cont.) 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. tons..Refiners' (primary), refined and antimonial

(lead content) thous. sh. tons..Consumers' (lead content) d" doScrap (lead-base, purchased), all smelters

(gross weight) thous. sh. tons..Price, common grade, delivered ..$ per lb . .

Tin:Imports (for consumption):

Ore (tin content) t- - metric tons.Metal, unwrought, unalloyed! do . . .

Recovery from scrap, total (tin cont.)t do . . .Asmetalf do___

Consumption, totalf do . . .Primaryf do . . .

Exports, inch reexports (metal)t do . . .Stocks, pig (industrial), end of periodt do . . .Price, Straits quality (delivered)* $ per lb.

Zinc-Mine prod., recoverable zinc thous. sh. tons.Imports (general):

Ores (zinc content).-- do . . .Metal (slab, blocks) do . . .

Consumption (recoverable zinc content):Ores do.Scrap, all types .do.

Slab zinc: §Production (primary smelter), from domestic

and foreign ores thous. sh. tons.. 498.9Secondary (redistilled) production do 63.6Consumption, fabricators do 1,134.1Exports do 3.5Stocks, end of period:

Producers', at smelter (ABMS)O do.Consumers' do 111.8

Price, Prime Western $ per lb . . .3701r Revised. 1 Annual data; monthly revisions are not available. 2 Less than 50 tons.3 See "*" note. 4 For month shown.d" Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.§ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased

or direct shipment. O Revised Dec. 31 stocks for 1970-73 (thous. tons): 124.2; 48.6; 30.1,25.9. Producers' stocks elsewhere, end of Aug 1978, 31,445 tons.

4,2511,346

568.787.1

152.4222.1

.4449

12,5689,7165,5841,845

5,631

il,605.611,539.3U,422.71 116. 6353.0

547. 4384.1

250.0113.1

1,995651177

.6956

2,5172,383547

1609.5682.5

224.61,429.1

180.7

43.7110.1

96.0.2310

5,73345,05516,4461,46762,92853,850

2,3377,282

'3.7982

484.5

97.1714.5

202.3

4,5391,367

673.373.8

97.8207.9

.5132

13,19910,420

6,041'2,009

5,685

1,518.01,496.21,411.0

85.2364.0

528.1394.0

220.352.7

2,202649178

. 6677

2,6682,667

583

i 589.2734.4

204.31,484.3

184.6

15.4109.3

91.3.3070

6,72448, 33815,3801,790

68,00055,500

5,4628,441

3 5.3460

457.7

121.9575.5

100.8238.2

392.641.4

1,103.1.2

65.886.8

. 3439

376116

75.98.0

9.318.7

.5300

1,084867497165

5,644

102.569.166.3

2.821.0

49.139.7

17.51.6

598227

.6379

52.162.6

39.8124.0

183.4

12.7119.7

90.5.3100

04,4061,435

1655,8004,500

2355,557

5.5637

41.2

11.355.4

9.215.8

21.73.7

98.4(2)

64.786.2

.3400

367119

42.28.0

9.015.7

.5300

1,050878509

••165

5,606

107.588.585.13.4

25.0

37.331.7

22.04.4

484582168

.6062

657599146

46.265.7

10.0133.5

192.7

11.1118.2

88.7.3100

03,5411,380

1555,9004,700

4985,378

5. 5638

36.4

9.342.2

10.628.8

22.53.4

96.0(2)

59.781.9

.3400

386108

49.65.8

2.913.9

.5300

1,055869507

••176

5,685

124.8118.2110.9

7.326.0

42.532.1

16.64.6

577160

.6062

49.162.6

4.6132.7

189.7

13.5112.9

84.8.3102

04,0561,400

2405,4004,400

5949,214

6.0794

37.2

11.847.1

7.728.2

31.13.1

95.000

60.376.9

.3190

380113

54.55.1

8.911.6

.5300

1,001830475

••175

5,725

124. 5125.2118.9

6.326.0

43.828.6

14.75.0

614152

.6062

48.760.3

9.2120.0

187.7

15.9111.2

91.3.3200

6074,1201,215

1005,0004,100

2387,272

6. 2093

35.5

26.554.4

8.328.2

36.93.1

88.2(2)

65.376.2

.3073

395106

57.57.1

7.222.8

.5300

1,146846496

••155

5,685

124.6120.2112. 7

7.528.0

71.355.8

22.86.9

526649178

.6194

582683137

51.161.2

12.0121.8

184.6

15.4109.3

91.3.3852

1,0893,8001,165

1205,1004,300

4308,441

6.1518

35.3

12.560.6

8.227.2

38.02.9

79.6(2)

65.886.8

.3050

400110

30.01.5

3.713.0

.5300

' 987'844

476158

5,811

125.4116.3108.7

7.629.0

64.047.4

17.14.7

658164

.6362

49.854.7

5.4122.5

182.1

15.4106.0

97.6.3300

1692,9111,160

1755,4004,500

3247,626

5.9230

33.9

3.864.9

7.027.2

36.62.6

85.9(2)

64.376.7

.3050

366104

36.02.8

5.719.6

.5300

1,072889504170

5,802

122.5116.099.816.231.0

55.545.9

19.14.9

647151

.6359

45.056.4

3.4115.0

176.4

15.8111.7

94.2.3300

2734,7271,255

1455,0003,700

3806,628

5.9336

33.2

10.943.4

7.827.2

30.02.9

84.01

62.881.0

.3006

395117

46.13.1

6.119.0

.5300

1,265986552184

5,732

133. 5134.6124.4

10.241.0

69.358.2

24.211.9

566620144

.6241

649679145

57.163.7

13.2125.2

184.4

20.0119.4

83.7.3300

6645,0701,505

1255,5004,100

5796,291

5.5757

35.3

13.735.1

8.428.6

27.03.4

96.01

56.983.6

.2900

387114

29.52.4

4.214.8

.5300

1,118933528164

5,751

129.3119.8113.7

6.141.0

94.577.9

20.47.3

648162

.6462

49.457.8

7.7122.5

189.8

31.4111.9

82.8.3300

4394,3691,485

1355,2003,900

6177,785

5. 3962

35.2

17.965.1

28.4

30.13.4

93.0)

50.086.4

.2900

405114

37.72.47.0

19.5

.5300

1,233'988

565172

' 5,697

133.7129.6119.3

10.341.0

62.647.828.111.4

637

54.364.3

117.4

198.6

••31.4119.7

73.8.3100

6353,4381,555

1605,7004,200

4058,139

5. 7027

33.1

13.078.8

9.916.4

32.03.7

99.0

40.82.5

.2900

395118

41.22.1

9.317.3

.5300

1,262995556172

' 128. 0128.4121.4

7.044.0

63.853.4

26.510.1

635642156

.6657

'40 .162.1

4.8121.6

198.5

32.1115.964.4

.3100

405,4131,630155

5,4004,000

384' 7,8466.0092

19.056.1

'8 .615.9

31.33.2

-99.91

32.588.1

.2901

408107

30.84.8

8.515.1

.5300

1,113884510126

5,709

97.7104.8

95.9

46.539.2

23.37.2

.6408

'35.5

11.0

199.2

.3100

623,144

4,6003,500

2747,802

6. 0700

6.049.9

8.815.6

3,1742.7

84.3

31.893.2

.2980

410125

27.85.2

11.014.5

.5300

38.928.731.610.2

.6723

47.5

11.0

.3217

3553,382

508

i. 3925

25.47.4

27.4

.5300

.6763

.3406

6. 7484

. 3116 .3237

* New series effective with data for Jan. 1976, Source: Metals Week. MW Composite monthlyprice (Straits quality, delivered) is based on average of daily prices at two markets (Penang,Malaysia—settlement, and LME 3-month—High grade), and includes fixed charges plusdealer's and consumer's 70-day financing costs; no comparable earlier prices are available.

t Effective with the Apr. 1977 SURVEY, data are expressed in metric tons (to convert U.S.long tons to metric tons, multiply by factor, 1.01605).


S-34


1976

SURVEY

1977

Annual

OF CURRENT BUSINESS

1977


October 1978

1978



MACHINERY AND EQUIPMENTHeating, combustion, atmosphere equipment, new

orders (domestic), net, qtrly. 9 O mil. $....Electric processing heating equip .do....Fuel-fired processing heating equip do

Material handling equipment (industrial):Orders (new), index, seas, adj ..1967=100..

Industrial trucks (electric), shipments:Hand (motorized) , number..Rider-type.. do

Industrial trucks and,tractors (internal combustionengines), shipments number..

Industrial supplies, machinery and equipment:New orders index, seas, adjusted 1967-69=100..

Indust rial suppliers distribution:Sales index, seas, adjusted 1967=100..Price index, not seas. adj. (tools, material handling

equip., valves, fittings, abrasives, fasteners,metal products, etc.) 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, shipments, qtrly:Tracklaying, total units..

mil. $..Wheel (contractors' off-highway) ..units..

mil.$_.Tractor shovel loaders (integral units only), wheel

and tracklaying types _ units..mil.$._

Tractors, wheel, farm, nonfarm (ex. garden andconstruction types), ship., qtrly .units..

i l$

ELECTRICAL EQUIPMENT

Batteries (auto.-type replacement), ship thous..

Radio sets, production, total market thous..Television sets (incl. combination models), produc-

tion, total market.-. thous..

Household major appliances (electrical), factoryshipments (domestic and export) 9 thous..

Air conditioners (room) ...doDishwashers do...Disposers (food waste) do....Ranges _ doRefrigerators doFreezers. doWashers do .Dryers (incl, gas) do....

Vacuum cleaners (qtrly.) do

GAS EQUIPMENT (RESIDENTIAL)

Furnaces, gravity and forced-air, shipments.thous..Ranges, total, sales doWater heaters (storage), automatic, sales do

184.335.877.3

167.5

15,78616,152

33,930

165.4

183.8

178.4

., 662.15

., 476. 60

., 482.10

., 269.851,242.4

568.05508.95577.55473.50209.2

19,5331,025.7

3,772238.3

34,543975.7

207,0362,451.5

49,203

44,102

14,131

25,80012,962

3,1402,5152,4624,8171,5484,4923,1739,285

1,5541,8243,112

1 240.8168.0J92.5

232.3

18,00021,409

43,289

199.2

207.4

191.4

!, 202.05,980.70,650.80,469.851,793.6

794.85730.70629.95560.35384.1

19,9421,127.8r 5,271' 330.1

r 42,7301,328.2

207,2392,758.7

64,601

52,926

15,432

30,9513,2703,3562,9413,0095,7071,5984,9333,5539,392

1,5081,746

< 3,070

206.7

1,5351,844

3,442

195.4

218.6

192.7

147.70135.95106.2597.75

1,637.3

102.9597.3538.7034.05320.2

5,079

5,853

1,068

2,828106312273291599203495

128147235

54.018.517.6

280.4

1,7051,661

3,887

200.0

224.7

193.6

198.50174.40166.50147.551,669.3

53.6550.8044.9541.10328.9

4,560265.21,461'84.3

'10,161r 319.8

39,271534.6

5,667

2 7,209

21,653

2,73291276271285566143468376340

144161208

244.0

1,7601,930

3,809

206.2

214.7

195.4

160.10150.55141.55131.401,687.8

79.8074.8551.5547.15357.2

6,060

4,891

1,380

2,64710233927227846197414344

153143250

296.0

1,6751,901

3,316

207.5

212.3

196.3

222.65205.95163.05140.751,747.4

63.4559.0558.9048.90361.7

5,194

5,061

1,366

2,52915332127228043577385329

128145208

65.716.030.3

278.5

1,6521,867

2,893

211.4

208.8

196.8

250.40222.45204.15175.20, 793.6

68.3062.2555.9050.70384.1

5,051303.81,28486.3

10,134319.3

47,863668.5

5,878

2 6,231

2 1,359

2,15318425822125035076340273

4,411

140158245

286.5

1,3631,614

3,219

213.8

208.9

198.6

230. 55205.45146.25130.951,877.9

83.8076.3563.0055.55394.9

4,711

2,700

1,103

2,195233230234216360100348263

121110230

246.2

1,7751,912

4,378

215.4

208.7

199.8

234.40210.00151. 60140.351,960.7

76.9571.3050.0044.30421.9

4,209

2,907

1,197

2,422270266273230388114410287

124141242

67.314.828.8

298.6

1,8972,441

4,675

218.6

224.0

200.6

258.90230,80206.00188.35

2,013.6

65.4062.6066.3561.40420.9

5,820350.11,556107.9

11,813393.3

45,912693.5

3,9752 5,4222 1,674

3,343569345291305569150513375

1,747

133156270

334.0

1,5392,173

4,312

222.8

233.6

201.5

302.20273. 70178. 70158. 652,137.1

76.7070.8064.2555.45433.4

3,287

3,272

1,368

3,100703307280293480118416296

130154286

362.1

2,0432,241

3,839

226.2

233.9

202.3

267.40235.30189.45175.252,215.7

87.4580.2066.2561.20454.6

3,456

3,883

1,288

3,205639330277307536153446288

106174

51.815.336.5

351.0

1,8152,128

5,200

228.3

242.2

203.7

316. 95280.55216.05193.052,315.9

75.8069.6076.9068.95453.5

5,926361.0

47, 931706.6

3,695

'5,585

i 1,678

3,247591320280296604191435271

3,084

1,2971,609

3,106

227.5

238.6

205.6

249.30231.20137.75123.55

•2,427.5

72.2566.9570.6564.40455.1

31, 3563 84. A

3 9, 7483132. 9

3,703

4,328

1,225

2,616307211255249548163376246

1,6992,190

4,645

225.4

243.3

206.9

291.30270.90

v 159.70141.05

P2,559.1

» 100.30v 94.40p 54.60P49.80P500.8

5,248

4,313

1,279

2,789111301278294586168469327

253.7

207.8

1 4,831

i 2,044

2,720101288287274528115468340

PETROLEUM, COAL, AND PRODUCTS

COALAnthracite:

Production $__ _ thous. sh. tonsExports _ doPrice, wholesale, chestnut, f.o.b. car at mine

$persh. ton..Bituminous:

Production J thous. sh. tons..

6,228615

46.428

678,685

6,200625

46.579

688, 575

60555

46. 579

57, 560

55094

46.579

69,200

55060

46.579

67,420

60075

46.579

68, 715

11

46.579

30,930

43024

46.579

23,115

34033

46.579

23,520

61052

46. 579

38,765 62,220

59531

47.192

65,565

57043

47.192

52,150

66

47.498

62,005

575

47.542

54,150r Revised. » Preliminary. * Annual data; monthly or quarterly revisions not avail.i Data coyer 5 weeks; other periods, 4 weeks. 3 For month shown. 4 Beginning July

1977, data include shipments to mobile home and travel trailer manufacturers (formerlyexcluded); they are not directly comparable with those for earlier periods.

9 Includes data not shown separately.JMonthly revisions back to 1973 are available upon request.©Effective 1976, data reflect additional reporting firms.


October 1978


1976

SU1

1977

Annual

' OF CUKKENT BUSINESS

1977


S-351978


PETROLEUM, COAL, AND PRODUCTS—Continued

COAL—Continued

Bituminous—Continued $Industrial consumption and retail deliveries,

total 9 thous. sh. tons..Electric 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 ofperiod, total thous. sh. tons..

Electric power utilities doMfg. and mining industries, total do

Oven-coke plants . . .do

Retail dealers .do.

Exports doPrice, wholesale. Index, 1967=100..

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 do

Exports .do

PETROLEUM AND PRODUCTS

Crude petroleum:Oil wells completed number..Price, wholesale Index, 1967=100..Gross input to crude oil distillation units, .mil. bbl. .Refinery operating ratio % of capacity-

All oils, supply, demand, and stocks:New supply, total cfj _ mil. bbl . .

Production:Crude petroleum % doNatural-gas plant liquids do

Imports:Crude and unfinished oils X doRefined products %... .do

Change in stocks, all oils (decrease,—) do..

Demand, total X . .do. .Exports:

Crude petroleum do.Refined products do.

Domestic product demand, total 9 X do..Gasoline do..Kerosene. do..

Distillate fuel oil X do.Residual fuel oil t— -doJet fuel.. -_-do.

Lubricants X - do..Asphalt do_.Liquefied gases do..

Stocks, end of period, total do..Crude petroleum do.Unfinished oils, natural gasoline, etc do.Refined products. do.

Refined petroleum products:Gasoline (incl. aviation):

Production do..Exports do..Stocks, end of period do..

Prices (excl. aviation):Wholesale, regular Index, 2/73=100—Retail (regular grade, excl. taxes), 55 cities

(mid-month) $ per gal-Aviation gasoline:

Production mil. bbl.Exports doStocks, end of period . . . d o . . .

Kerosene:Production . do . . .Stocks, end of period do . . .Price, wholesale (light distillate)

Index, 1967=100..

598,750447,021144,81784,324

6,900

133,555116,43616,8799,804

240

59,406367.5

60557,72826,029

6,4876,173

3142,127

1,315

17,059253.6

5,081.489

6,253.6

2,976.2601.0

1,946.7729.7

-21 .1

6,472.3

2.978.7

6,390.82,567.2

61.9

1,146.71,025.1

361.4

55.7146.8514.0

1,111.8285.5118.6707.7

2,517.01.3

234.3

233.6

.474

13.3.2

2.8

55.712.5

312.3

••619,632474, 818

••137,785' 77,396

7,020

152,317130,95121,14612,721

220

53,687388.6

24142 53,060

26,769

6,4426,306

1362,050

1,241

18,886274.2

5,468.490

6,785.8

2,985.4608.8

2,408.7782.9

199.4

6,811.2

18.370.3

6,722.62,633. 3

63.3

1,223.31,116. 6

379.7

58.3156.0519.6

1,311.2347.6121.8841.8

2,582.0.7

260.7

253.3

.507

14.2.1

3.0

62.018.0

358.1

54,75843, 95710,4756,164

325

36,83221,24915,3939,043

190

4,279393.7

364,2592,270

6,2926,084

2082,086

136

1,400273.1466.0

90

573.0

255.551.1

200.166.3

29.8

565.4

1.16.0

558.3231.4

3.6

81.794,434.5

5.520.836.6

1,268.9338.3117.7812.8

224.30)

259.6

260.5

.517

1.40)2.6

3.819.5

362.8

50,62240,00810,2035,883

410

44, 95327, 72316,99010,410

240

5,037394.4

364,0872,373

6,2136,023

1902,033

(3)

1,924276.1457.5

91

558.5

252.549.1

193.863.1

34.5

540.8

2.76.1

532.0220.8

3.8

81.587.831.5

4.818.336.6

1,303.4334.2120.9848.3

213.40)

258.7

259.6

.515

1.50)2.8

4.220.5

363.5

50,19138, 22011,4406,335

530

158.164[37,16520,72412, 599

275

4,871397.0

324,3052,202

6,3916,220171

2,001

3 159

1,562278.6465.9

570.7

263.752.0

198.556.5

32.6

560.7

2.65.3

552.7222.2

5.9

94.283.931.5

5.017.343.8

, 336.0343.2122.4870.5

216.0.1

258.0

257.5

.518

1.00)2.8

5.119.9

374.9

50,24538,10711,4626,033

675

.73,06347,14325, 56015,500

360

4,489399.4

334,1862,244

6,5266,369

1571,980

142

1,785282.9449.6

89

549.3

255.450.4

190.053.5

9.7

560.3

1.45.7

553.2216.8

5.0

102.684.631.1

4.711.447.6

1,345.7350.2120.2875.4

214.9.1

261.5

256.3

.513

1.20)2.9

5.620.5

379.3

53,68741,07111,6916,016

925

152,317130, 95121,14612,721

220

3,910401.6

324,0772,236

6,4426,306

1362,050

1,875288.1463. 5

571.3

261.152.5

191.366.4

-34 .5

629.9

2.16.4

621.4229.4

8.5

130.3104.333.7

4.37.0

54.4

1,311.2347.6121.8841.8

222.60)

260.7

255.8

.511

1.00)3.0

5.718.0

381.2

54,40542,59410,9165,399

895

18,12102,79215,1478,130

182

199403.2

293,6032,177

5,9375,772

1642,095

62

1,184288.8449.8

85

561.6

258.850.1

189.263.5

-43.9

618.4

3.04.9

610.4207.6

9.6

137.6108.430.4

4.34.6

57.6

., 267.4351.2118.3797.8

215.8(0

275.3

255.1

.512

03.0

5.514.3

383.0

46,01435,7379,3864,155

891

93,13082,43710,5745,067

119

109404.6

292,7412,014

5,2095,059

1502,146

81

1,486289.7401.2

84

503.6

234.445.3

159.264.7

-76 .1

590.3

. 25'. 6

584.5193.6

8.8

135.3111.031.0

4.44.6

50.4

1,191.2350.1121.6719.6

186.4(0

274.0

252.9

.511

.70

2.9

5.311.5

388.2

43,81033,9239,2373,988

650

83,94275,0818,7473,750

114

16' 406.5

292,6612,321

3,4613,373

872,270

42

1,499293.4447.9

85

585.4

237.050.9

190.371.2

-23 .5

616.8

1.96.5

608.4226.2

6.0

126.8109.634.5

4.87.7

44.2

1,167. 7363.8123.4680.6

210.10)

262.3

252.0

.510

.80

2.4

5.911.9

388.4

45,50434,54510,4185,501

540

96,46285,77210,5555,602

135

940426.6

293,7532,137

3,1893,107

812,321

56

1,369294.3426.3

83

• 537. 4

261.2'49.9

163.5

62.7

6.5

541. 52.87.4

' 531. 4217. 33.2

92.889.730.4

5.310.4

'34.7

1,174. 2365.0123. 0686.1

201.20)251.6

253. 0

.512

1.10

2.4

4.012.9

48,75337,12511,1326,406

495

L10,88698,47212,2397,129

175

1,548432.6

334,3982,286

2,9932,910

832,380

103

1,209295.5472.2

549.6

272.848.9

173.154.6

3.4

571.8

3.85.9

562.1241.03.8

94.482.730.8

5.515.236.2

1,177. 6354.6124.0699.0

220.1(0236.1

255.6

.517

1.30

2.4

4.213.6

390.6

51,82740, 59310,7586,382

475

.21,588

.07,49813,7808,237

310

1,730434.7

'29

2,9382,848

90

74

1,812298.8

260.6

.524

391.1

55, 42944, 03510, 9436,531

450

.19, 791

.07,44312, 0586,604

290

1,223437.2

294,455

2,8462,731

114

53

1,503301.8

266.1

.533

392.1

1,251442.6

46

1,516302.7

271.1

.542

393.9

442.9

1,619305.7

274.6

4.545

395.5

' Revised. 1 Less than 50 thousand barrels. 2 Reflects revisions not available bymonths. 3 Oct. includes exports for Sept. * Oct. 1978 mid-month price: $0.547.

9 Includes data not shown separately. § Includes nonmarketable catalyst coke.

cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," notshown separately. X Monthly revisions back to 1973 for bituminous coal and back to 1974for petroleum and products are available upon request.




1976 P 1977 P

Annual

1977


1978


PETROLEUM, COAL, AND PRODUCTS—Continued

PETROLEUM AND PRODUCTS—ContinuedRefined petroleum products—Continued

Distillate fuel oil:Production mil. bbl.ImportsJ do...Exports. do...Stocks, end of period. do...Price, wholesale (middle distillate)

Index, 1967=100.Residual fuel oil:

Production mil. bbl.Imports! do...Exports. do...Stocks, end of period do...Price, wholesale ...Index, 1967=100.

Jet fuel:Production mil. bbl.Stocks, end of period do...

Lubricants:Production do...Exports . .do...Stocks, end of period. . .do...

Asphalt:Production __.do._.Stocks, end of period. do...

Liquefied gases (incl. ethane and ethylene):Production, total _do...

At gas processing plants (L.P.G.) do...At refineries (L.R.G.).. do...

Stocks (at plants and refineries) do...

1,070.253.5

.4186.0

337.0

504.0517.3

4.272.3

452.9

335.832.1

61.89.5

12.3

139.719.4

561.9437.4124.6116.3

1,197.190.5

.5250.3

639.0492.6

2.389.7

520.3

355.734.6

64.59.6

12.1

154.118.7

571.8443.0128.9135.9

101.55.0

(2)229.8

388.8

50.644.7

.378.8

513.6

31.334.0

5.7.8

10.4

17.418.4

47.736.611.2

140.6

99.45.1

(2)252.8

388.9

52.543.7

.187.5

512.7

30.134.2

5.4.9

10.4

15.815.9

46.135.410.6

146.7

104.34.6

.2267.4

389.1

54.237.7

.195.9

522.1

30.234.9

5.8.7

11.1

15.414.1

49.238.211.0

147.6

100.25.6.1

270.6

392.2

50.832.8

.295.2

511.3

28.535.4

5.6.8

11.6

12.715.4

48.638.110.5

143.7

103.07.0. 1

250.3

394.2

57.041.8

.489.7

510.5

30.334.6

5.2.8

12.1

10.318.7

49.839.110.7

135.9

94.76.0

(2)213.4

396.6

58.042.1

.481.4

514.8

28.634.6

5.1.8

12.3

8.622.6

47.237.110.1

121.7

82.25.8

.4165.9

398.6

50.443.8

.364.9

502.7

27.833.3

4.6.7

12.1

6.724.7

43.133.69.5

111.5

93.05.8

(2)137.9

' 394.8

54.552.7

.762.2

r 491. 6

30.132.0

5.8.8

12.4

9.826.8

49.538.311.2

112.6

88.23.0

.2136.3

393.2

46.646.9

.266.2

493.2

29.534.6

5.71.1

12.0

12.228.6

' 4 7 . 1'36 .7

10.5121.5

99.43.7

(2)145.1

393.3

51.037.9

.572.4

504.5

31.438.5

5.9.7

11.9

15.929.2

47.736.511.2

129.4

393.2

507.9

393.1

493.9

393.4

479.4

394.1

10.2

PULP, PAPER, AND PAPER PRODUCTS

PULPWOOD AND WASTE PAPERPulp wood:

Receipts thous. cords (128cu. ft.)..Consumption doStocks, end of period do

Waste paper:Consumption. thous. sh. tons..Stocks, end of period do

WOODPULPProduction:

Total, all grades 9 ...thous. sh. tons..Dissolving and special alpha.. _ doSulfate doSulfite doGroundwood.. doSoda and semichemical 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 doAll other ..do.

PAPER AND PAPER PRODUCTS

Paper and board:Production (Bu. of the Census):

All grades, total, unadjusted...thous. sh. tons..Paper. do.Paperboard _ do.Wet-machine board do.Construction paper and board.. do.

Producer price indexes:Book paper, A grade 1967=100..Paperboard do.Building paper and board.. do.

73,58373,2096,445

12,103779

48,8041,400

333, 7012,0794,797

3 3, 627

41,3444 656

62365

i 2,518730

i1,787

13,727188

» 3,539

<• 60, 043r 26,534r 27, 960

» 5, 419

190.4138.7

68,29275,03574,694

10,427661

'49,7771,454

3 34,8232,0594,520

3 4,002

4 330404

62

i 2,640796

i 1,844

13,864179

13,686

60,73627,28027,890

985,468

176-4157.0

6,4856,3966,302

920679

4,026135

3,001167387337

71439777

21263150

35017

332

5,4162,3972,475

9535

180.4162.4

(•)5,8996,524

840

3,668110

2,738153358308

64239264

26683183

2865

282

4,9182,2222,239

9448

6,4546,5376,454

919648

4,05493

3,067169386339

77433338358

17056114

28814

274

5,2662,3402,414

9502

180.1166.7

177.8168.8

5,6746,1715,961

836661

3,884109

2,938158377302

78434838551

16150110

37419

356

5,0372,2952,270

7463

5,7455,5456,187

790661

3,489108

2,592155354280

79633040462

24072167

31717

299

4,6252,1592,057

402

5,5346,4065,421

953640

3,944131

2,983172342316

1,05161337959

18561124

32610316

5,0032,3502, 230

8416

6,1296,2515,210

910633

3,642135

2,701168326312

1,06261839153

18562123

31923297

' 4,9562,297

' 2, 2118

439

6,7805,382

1,030706

4,149142

3,149166352340

1,09061341562

23383150

32720307

• 5,5472,553• 2,494

10

6,5386,7765,151

1,005744

4,101113

3,150165342330

1,07461339764

21046163

3008

292

' 5, 2422,379

'2,36810

484

6,4636,7514,844

1,059'745

4,100136

3,064173

'387'341

1,069'611'395'63

22771156

40216

' 5,602' 2, 533' 2, 559

'10'499

6,9496,8845,020

'976'753

4,109130

3,085178389325

426407

26680

186

296

5,4632,4442,541

11467

6, 2036,0905,141

860731

3, 674114

2,832132304292

1,019517436

67

23069

161

32720

307

4,8612,1082,311

6436

17454

120

3255

320

179.4189.8

' Revised. p Preliminary.1 Reported annual total; revisions not allocated to the months. 2 Less than 50 thousandbarrels. 3 Beginning with January 1975, data for soda combined with those for sulphate;not comparable with data for earlier periods.

174.2 171.1 170.7 '172.1 174.1 176.5 178.0 178.6 179.58.3 170.4 '175.0 180.1 186.6 188.6 190.7 192.0 192.9

4 Data exindividual linns. » *»nimeiu LU avun-i uioviuojiib .iit,i*i^ - — - — - - - _ * n ;

t Monthly revisions back to 1974 are available upon request. 9Includes data lornot shown separately.

184.2187.0

xclude small amounts of pulp because reporting would disclose the operations of1 firms. 5 Withheld to avoid disclosing figures for individual companies.


October 1978


1976

SUEVEY

1977

Annual

OF iCURRENT BUSINESS

1977


S-371978


PULP,

PAPER AND PAPER PRODUCTS-Con.

Selected types of paper (API):Groundwood paper, uncoated:

Orders new thous. sh. tonsOrders, unfilled, end of periodShipments

Coated paper:Orders newOrders, unfilled, end of periodShipments

Uncoated free sheet papers:Orders, newShipments

dodo

dodo. . .do

dodo

Unbleached kraft packaging and industrial con-verting papers:

Orders, new thous. sh. tonsOrders, unfilled, end of periodShipments

Tissue paper, production

Newsprint:Canada:

ProductionShipments from millsStocks at mills, end of period

United States:ProductionShipments from millsStocks at mills, end of period

Consumption by publisherscfStocks at and in transit to publishers, (

period_ thous. sh

Imports

dododo

dododo

do .dodo

do3nd oftons..

doPrice, rolls, contract, f.o.b. mill, freight allowed

or delivered Index, 1967=100

Paperboard (American Paper Institute):Orders, new (weekly avg.) ..thous. shOrders, unfilled! vProduction, total (weekly avg.)

Paper products:Shipping containers, corrugated and solid

shipments mil sq ft surf

Folding paper boxes, shipments..thous. sh

tons . ,dod o . .

I fiberarea

tons . ,mil. $ . .

1,316151

r 1,278

3,956337

3,981

6,354' 6,830

3,839r 4,186

8,9158,712

299

3,7363,728

29

6,534

921

6,569

198.2

5521 035

547

216,371

2,592.01,979.0

PAPER, AND PAPER PRODUCTS—Continued

' 1,295••135

1,290

r 4,279'398

4,261r 6,870

7,162

3,815r 4,286

8,9889,005

282

3,8703,866

34

6,772

796

6,559

215.4

5581,037

557

226,088

2,639.02,105.0

121178115

396400383

565621

323373

783757434

34333865

539

851

558

216.7

5461,148

581

19,694

231.5187.4

107180105

358408357

542580

322340

713738408

298306

58

561

827

532

216.7

5181,135

519

20,002

224.5181.9

112145115

369360373

576622

332366

840856392

33633855

628

800

552

216.7

5781,146

570

19,711

236.9192.2

94134110

342349372

554595

305349

835810416

33033451

620

763

610

216.7

5481,132

560

19,285

215.0171.9

120'135

102

384'398

354

595585

291337

701835282

30732434

597

796

624

216.7

4791 037

478

17,898

235.0188.1

121151105

356348370

577591

326368

811721372

32431543

548

774

593

216.7

5741,143

518

17,880

205.2164.7

98149101

363382351

602591

307340

767688452

307309

41

521

784

530

216.7

5911,166

577

18,669

210.9171.7

118155116

419403402

702691

347373

826927350

35236034

600

818

611

216.7

6101,306

593

21,555

240.2194.3

111r 133

111

337'391

359

658'644

••345364

834798386

328323

38

620

818

604

228.2

6221,385

598

19,970

215.7176.8

124••130

124

385'390

394

'709661

r348••388

843895333

33634034

631

835

639

228.2

6341,546

612

21,759

236.0193.4

••130rl44

••364••396'369

••665••648

'320-•369

807853287

33934230

586

876

747

228.2

6221,556

612

22,116

' 229. 8' 191. 7

7414683

333387326

578573

301317

838833293

258255

33

560

898

649

228.2

5601,560

542

17,583

r 200. 3r 166. 4

7814975

377418368

601618

310340

823813303

27928428

558

868

680

5981,600

586

22, 311

244.8206.4

230.5

5841,470

573

RUBBER AND RUBBER PRODUCTS

RUBBER

Natural rubber:Consumption .thous. metric tons..Stocks, end of period doImports, incl. latex and guayule.-thous. lg. tons..

Price, wholesale, smoked sheets (N.Y.)._$ per lb_.

Synthetic rubber:Production.... thous. metric tons..Consumption doStocks, end of period... do. . I .

Exports (Bu. of Census) thous. lg. tons..

Reclaimed rubber:Production thous. metric tons..Consumption . . .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

730.73125.33712.90

.395

2,303.752,175.26

458.12

267. 99

78.4681.8916.81

185,950

208,53958,573

145,2824,684

34,7684,784

27,54833,3045,1063,167

780.13127.65792.41

.416

2,417.532,464.09

426.83

239. 98

85.37111. 3416.26

231,638

226,58365,998

155,1955,390

47,181

70.01136.1449.28

198.83210.53430.31

14.86

7.629.86

15.97

19,495

18, 2624,425

13,400436

45,229448

71.92133.5176.27

201.67211.29422.33

26.14

6.9410.0815.34

19,321

20,5585,750

14,383425

44,542544

68.81137.6573.20

205.55204.17424.50

14.59

7.949.66

15.99

18,926

20,2476,124

13,818304

43,841

'61.31129.4237.39

.438

195.43192.94424.04

13.80

7.219.05

16.15

17,716

16,7165,307

11,026383

45,176

*62. 53127. 6581.99

.429

196.58203.35426.83

17.13

6.918.23

16.26

17,425

16,0254,716

10,798511

47,181

*59.19123.2946.71

.430

198. 20193.23430.97

16.94

9.459.79

14.76

18,290

15,1705,2389,564

368

51,523

«61.06116.4045.68

.446

192. 71191.00427.88

18.86

9.629.12

14. 73

18,319

15,7554,840

10,573341

54,621

^63.79117.1071.77

.455

210.31200. 61434.49

22.55

9.619.39

14.52

18,987

22,1986,386

15,373439

51,986

61.23*115. 60

83.44

.439

214. 92195.68446. 93

19.48

10.0510.1113.45

18,828

21,7386,161

15,224352

50,006

'67.98122. 7675.96

.450

211.17211.42411. 41

24.90

9.8510.2813.70

19,148

20,5976,300

13,888

49,276

'61.88123.39

54.36

.490

194. 36194.19433.09

22.28

9.8810.2613.56

18,946

22,5696,121

16,008440

46,293

51.68125.4147.79

195. 95169.96456.46

19.35

9.538.75

13.67

15,108

17,5844,077

13,265242

44,280

.520

20.04

19, 245

20, 5164,680

15, 464372

44, 057

127 170

r Revised. i Producers' stocks are included; comparable data for earlier periods will beshown later. 2 Beginning Jan. 1977, data cover passenger car and truck and bus tires;motorcycle tires and tires for mobile homes are excluded.

d" As 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 the

month; annual data are as of Dec. 31. c Corrected.


S-38


1976

SUKVEY

1977

Annual

OF CUKKENT BUSINESS

1977


October 1978

1978


STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENT

Shipments, finished cement thous. bbl . .

CLAY CONSTRUCTION PRODUCTS

Shipments:?Brick, unglazed (common and face)

mil. standard brick..Structural tile, except facing thous. sh. tons..Sewer pipe and fittings, vitrified.. doFacing tile (hollow), glazed and unglazed

mil. brick equivalent..Floor and wall tile and accessories, glazed and

unglazed mil. sq. ft_.Price index, 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 doPlate and other flat glass, shipments.. do

Glass containers:Production*-- thous. gross.

Shipments, domestic, total* --doNarrow-neck containers:

Food do . . .Beverage d o . . .Beer. do . . .Liquor and wine _ do . . .

Wide-mouth containers:Food (incl. packer's tumblers, jelly glasses,

and fruit jars) | O thous. gross.

Narrow-neck and Wide-mouth containers:Medicinal and toilet do . . .Chemical, household and industrial do . . .

Stocks, end of period* _ d o . . .

GYPSUM AND PRODUCTS

Production:Crude gypsum (exc. byproduct)..thous. sh. tons.Calcined do . . .

Imports, crude gypsum _ do

_do.Sales of gypsum products:

Uncalcined

Calcined:Industrial plasters do . . .Building plasters:

Regular basecoat do . . .All other (incl. Keene's cement) do . . .

Board products, total mil. sq. ft.Lath do . . .Veneer base do . . .Gypsum sheathing do . . .Regular gypsum board do.TypeX gypsum board do . . .Predecorated wallboard do.

387,410

7,034.471.0

1,097.8

64.8

276.7

177.0

644,751101,739543,012

302,500

292,345

25,72765,09381,93822,674

61,504

30,7984,611

42,800

111,980111,036

6,231

5,030

305

162329

U3f156184362

1272110,11712,029

191

418,862

8,059.347.9

1,143.5

62.4

288.0

203.7

739,919(6)

303,452

304,785

25,06967,46692,75724,352

61,330

30,0913,720

36,912

113,390112,590

17,074

i 5,759

1326

136312

15,369165418289

11,8402,425

232

45,521

812.34.2

113.7

5.3

27.9

209.2

41,952

740.94.4

99.4

6.4

26.9

212.2

192, 768

29,515

35,382

3,2898,45110,1792,685

2,998417

37,253

1,1861,072

792

585

25

1232

1,421174124

1,10221720

21,251

23,828

1,9874,9027,5741,821

5,015

2,226303

33,976

1,1871,048

720

566

30

1228

1,333103925

1,03220622

43, 207

746.64.0

97.2

5.7

26.6

214.2

25,842

21,577

1,4824,4296,5151,978

4,692

2,214267

38,433

1,2721,121

650

567

33

1128

1,366113924

1,05821123

34,548

714.94.0

93.1

6.3

25.4

215.7

26,133

620.14.0

68.6

4.8

22.9

215.7

198,829

26,508

23,378

1,6545,0926,6142,185

4,909

2,660264

41,204

1,1101,010

648

455

31

1026

1,298153620

1,00220420

21,640

25,683

1,9585,6047,6522,405

5,299

2,469296

36,912

1,034987

435

452

29

22

1,467123818

1,13824318

15,330

461.23.8

43.9

2.9

20.6

224.0

25,982

21,086

1,8763,7056,2491,841

4,937

2,074404

39,337

1,1101,051

593

295

25

920

1,254113521

96720417

18,516

476.97.7

38.6

3.1

21.5

224.4

31,452

713.67.4

70.9

4.6

27.9

• 228.0

202,552

25,375

22,020

1,9144,0146,8891,852

4,807

2,265279

42,408

1,027956

417

302

27

921

1,194143216

92119616

28,884

27,383

2,3175,4388,6792,321

5,806

2,515307

43,764

1,2221,071

493

370

35

1125

1,399154022

1,07123220

37,239

788.810.582.1

4.9

25.0

230.1

28,767

26,528

2,2345,2028,9482,132

5,226

2,474312

45, 739

1,3331,195

529

423

371126

1,364123622

1,04922718

44,904

893.66.6

95.6

5.8

27.1

230.6

49,782

914.66.3

101.0

5.7

26.2

230.7

210,620

29,150

33,988

2,7056,94010,5692,770

7,194

3,349461

41,461

1,2771,237

767

458

36

1027

1,399134222

1,07023220

•28,759

•27,233

r 2,184r 6, 010r 9, 755' 1,897

•4,717

• 2,375'295

••43,398

1,2081,121

684

565

38

1429

1,388114022

1,05823620

43,755

809.25.7

93.8

4.9

20.8

231.9

26,930

24,514

1,7585,3179,5011,573

4,187

1,906272

45,902

1,1951,164

825

505

28

25

1,351124021

1,03722120

50,340

234.1

29,284

29,667

2,5055,82710,5282,123

2,372324

43,887

242.2

TEXTILE PRODUCTS

FABRIC (GRAY)

Knit fabric production off knitting machines (ownuse, for sale, on commission), qtrly* mil. lb_.

Knitting machines active last working day *. .thous..

Woven fabric (gray goods), weaving mills:Production, total9 mil. linear yd. .

Cotton doManmade fiber ~do~~"

Stocks, total, end of period 9 d"1 do._~.Cotton doManmade fiber __do

Orders, unfilled, total, end of period 9 if . - .do. ." .Cotton _ _ doManmade fiber_.. do

COTTONCotton (excluding linters):

Production:GinningsA — thous. running bales..Crop estimate thous. net weight bales 0 . .

Consumption thous. running bales. _Stocks in the United States, total, end of period 9

thous. running bales..Domestic cotton, to ta l . . . _ do

On farms and in transit doPublic storage and compresses doConsuming establishments .do

1,790.943.5

10,4484,4505,9131,203

431767

1,797789

1,008

410,347< 10,581

9,6109,5811,2477,377

957

1,688.634.3

10,2374,2375,915

986340640

2,004858

1,146

3 14,018s14, 389

6,393

12,89012,8831,665

10,268950

785318466

1,118365748

1,722698

1,023

694

492

16,13916,12713,3891,773965

7414.07 34.3

2 9532 3872 5581,062345712

1,728742985

2,353

2 606

14,79814,78711,2702,638

791318466

1,014347662

1,801750

1,051

7,493

512

14,68014,6717,6086,219844

802320474

6411,848729

1,120

11,711

505

13,95113,9433,8749,205864

7 399.27 34.3

2 9642 3782 577986340640

2,004858

1,146

13,513

2 562

12,89012,8831, 66510,268

950

827341478932314611

2,037819

1,218

13,859

493

11,93511,9281,3609,634

934

814323481927311609

2,050755

1,295

506

10,83610,8281,1628,714952

7 418.07 35.0

2 983» 3822 588915306

* 6022,148806

1,342

314,018

2 620

9,5259,5181,1107,3981,010

784303471866307553

2,388803

1,585

484

8,395

9766,3751,037

786305471860307547

2,522797

1,724

484

7,3917,385

9775,3121,096

970368

•-589884298

'5792,580

8211,759

575

6,2856,281

7654,4111,105

386

569

1,723

144

5,3265,321'700

3,8031, 118

672

'455

15,130v 15,126v 1,606P 3 , 4 5 7P 1,063

1,49210,873

r Revised. v Preliminary. 1 Annual total; revisions not allocated to the months.2 Data cover 5 weeks; other months, 4 weeks. 3 Crop for the year 1977.« Crop for the year 1976. « Beginning 1st Qtr 1977, data no longer available. 6 Sept. 1

estimate of 1978 crop. 7 Beginning 1st Qtr 1977, data exclude garment lengths, trimming,and collars; not comparable with earlier data.

QBales of 480 lbs. ©Includes data for "dairy products."*New series. Source: BuCensus. Data cover warp and weft knit yard goods and knit

garment lengths, trimmings, and collars; no quarterly data prior to 1974 are available.

{Monthly revisions back to 1975 for shipments of clay construction products and for Jan.-Mar. 1975 for glass containers will be shown later. 9 Includes data not shown separately.

<?Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,toweling, and blanketing, and billed and held stocks of denims.

HUnfilled orders cover wool apparel (including polyester-wool) finished fabrics; productionand stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,and blanketing. ACumulative ginnings to end of month indicated.


October 1978 SUEVEY CUREENT BUSINESS S-39


1976 1977

Annual

1977


1978


TEXTILE PRODUCTS—ContinuedCOTTON AND MANUFACTURES—Con.

Cotton (excluding linters)—ContinuedExports _. thous. running bales..Imports thous, net-weight®bales_.Price (farm), American uplandif cents per lb_.Price, Strict Low Middling, Grade 41, staple 34

(lVfe"), average 10 markets cents per lb_.Spindle activity (cotton system spindles):

Active spindles, last working day, total mi l . .Consuming 100 percent cotton d o . . . .

Spindle hours operated, all fibers, total _bil_.Average per working day do

Consuming 100 percent cotton _do.Cotton cloth:

Cotton broadwoven goods over 12" in width:Production (qtrly.). mil. lin. y d . .Orders, unfilled, end of period, as compared with

avg. weekly production No. weeks' prqd..Inventories, end of period, as compared with

avg. weekly production. No. weeks' prod..Ratio of stocks to unfilled orders (at cotton

mills), end of periodExports, raw cotton equiv. thous. net-weight®bales.Imports, raw cotton equivalent . . . do

MANMADE FIBERS AND MANUFACTURESFiber production, qtrly:

Filament yarn (acetate) mil. lb._Staple, incl. tow (rayon). . .doNoncellulosic, except textile glass:

Yarn and mononlaments doStaple, incl. tow .do

Textile glass fiber do_.~~Fiber stocks, producers', end of period:

Filament yarn (acetate).. __doStaple, incl. tow (rayon) . . . doNoncellulosic fiber, except textile glass:

Yarn and monofilaments doStaple, incl. tow _ .do

Textile glass fiber doManmade fiber and silk broadwoven fabrics:

Production (qtrly.), total 9 mil. lin. yd.Filament yarn (100%) fabrics? . . . do

Chiefly rayon and/or acetate fabrics doChiefly nylon fabrics do

Spun yarn (100%) fab., exc. blanketing 9 .doRayon and/or acetate fabrics, blends doPolyester blends with cotton. .do

Filament and spun yarn fabrics doManmade fiber gray goods, owned by weaving

mills:Ratio, stocks to unfilled orders, end of period.. .

Prices, manufacturer to mfr., f.o.b. mill:*50/50 polyester/carded cotton printcloth, gray,

48", 3.90 yds./lb., 78x54-56.. .__$ per yd . .65% poly./35% comb. cot. broadcl., 3.0 oz./sp yd,

45", 128x72, gray-basis, wh. permpresfin.

Manmade fiber knit fabric prices, f.o.b. mill:*65% acetate/35% nylon tricot, gray, 32 gauge, 54",

3.2 oz./linear y d . . $ per yd- .100% textured polyester D K jacquard, 11 oz./

linear yd., 60", yarn dyed, finished...$ per yd . .Manmade fiber manufactures:

Exports, manmade fiber equivalent mil. lbs . .Yarn, tops, thread, cloth . .do

Cloth, woven doManufactured prods., apparel, furnishings.do

Imports, manmade fiber equivalent doYarn, tops, thread, cloth.. .do

Cloth, woven doManufactured prods., apparel, furnishings .do

Apparel, total. . . . . d oKnit apparel doWOOL AND MANUFACTURES

Wool consumption, mill (clean basis):Apparel class mil. lb__Carpet class do

Wool imports, clean yield doDuty-free (carpet class).. do

Wool prices, raw, shorn, clean basis, delivered toU.S. mills:^

Domestic—Graded territory, 64's, staple 2*/{"and up $perlb__

Australian, 64's, Type 62, duty-paid .doWool broadwoven goods, exc. felts:

Production (qtrly.) mil. lin. yd. .

FLOOR COVERINGS

Carpet, rugs, carpeting (woven, tufted, other), ship-ments, quarterly.. mil. sq. yds_.

APPARELWomen's, misses', juniors' apparel cuttings:*

Coats thous. uni t s . .Dresses .doSuits (incl. pant suits, jumpsuits) do .Blouses thous. dozen.Skirts do

3,43196

64.7

170.9

16.87.5

105.6.40648.1

4,718

»13.2

34.7

5.36556.0718.3

286.9475.4

3,292.93,320.2

676.0

18.130.0

«299.8289.079.4

6,092.41,984.4

378.2356.8

5 3,500.4184.8

2,713.2320.5

•130

8.4.16

.725

.412

• 1.846

352.17201.92139.17150.25479.3283.8264.41395.49343.25209.80

106.715.158.018.9

1.826 2.18

97.3

19.3

20,689170,74434,05019,7354,929

4,44825

51.8

7 50.8

16.66.7

103.6.39843.4

4,372

3 11.7

34.7

3.40460.1525.2

282.0527.0

3,659.93,653.8

786.7

16.749.8

350.3299.767.9

6,223.62,014.1

371.5356.9

3,583.2286.2

2,677.1359.5

3.42

.405

.901

.501

« 1. 708

367.08206.34131.35160.74531.13110.1167.70

421.02365.24218. 68

95.512.553.018.8

1.832.27

101.7

1,024.6

17,624166,38534,57519,5405,445

1811

58.3

52.5

16.56.88.1

.4053.3

10.6

4.6

.4431.042.7

.46

.393

.750

.440

1.668

27.0813.929.36

13.1655.4413.057.87

42. 3937.1322.94

7.41.14.71.5

1.822.24

2,04413,6872,9351,706477

2001

59.1

49.3

16.56.8

2 9.8.3922 4.1

982

11.3

4.3

40.248.1

69.7132.9

924.2898.7210.8

13.148.0

356.1315.261.5

1,462.1472.889.182.4

840.878.1

615.785.2

.42

.405

.741

.438

1.642

35.0218.5511.8816.4851.8510.916.56

40.95-36.3421.96

2 8.62 1.1

2.4.6

1.822.27

23.3

258.0

1,97412,8272,8031,632425

1491

53.1

49.1

16.66.88.3

.4153.5

11.1

4.4

.4024.835.5

.424

.741

.445

1.642

25.8114.119.60

11.6346.699.315.76

37.3832.6820.13

7.7.7

2.2.3

1.822.27

1,90812,8102,9641,676461

333(10)

51.4

48.016.66.88.2.4103.4

11.0

4.6

.4126.332.3

.35

.441

.727

.435

1.609

27.5014.649.9712.8637.576.094.1431.4827.2216.28

7.0.81.8

1.822.30

1,56712,5532,5231,704

427

496(10)

47.9

48.416.56.7

2 9.3.3712 3.7

1,023

13.5

4.6

.3446.353.1

65.6121.9

873.4931.4222.2

16.749.8

350.3299.767.9

1,644.5539.094.980.3

940.384.1

693.196.3

.34

.727

.435

1.674

34.3519.7514.0014.6041.8310.066.90

31.7726.2613.94

2 7.92 1.03.02.0

1.822.26

25.4

271.1

1,10510,5311,9511,473435

»5210

48.0

51.0

16.76.68.2.4123.3

13.0

4.4

.34

"70*0

.31

.451

.729

1.655

45.5414.917.98

30.6324.8012.33

7.71.03.72.2

1.822.28

1,03712,1522,3071,719

443

502(10)

50.3

52.916.56.68.3

.4163.4

12.3

4.5

.37

44.8

.31

.456

.725

.443

1.665

46.6811.955.90

34.7329.5017.10

8.2

3.21.9

1.782.30

13,0062,5951,864

532

704(10)

51.3

55.0

16.56.5

2 10.1.4032 4.0

••1,046

14.4

4.8

.33

"56" 7

71.5129.3

907.61,002.1

226.1

13.1

353.5306.385.6

1,648.5'555.3'98.6'78.4931.'84.7

' 660.8'97.5

.30

.475

.729

.451

1.658

46.3413.297.27

33.0527.4815.78

10.51.24.11.4

1.782.31

28.2

242.6

1,17315,5042,8152,174641

6400

51.7

54.7

16.66.68.2

.4133.4

14.0

4.9

.35

68.7

.34

.495

.751

.456

1.658

53.8716.117.85

37.7631.0818.46

8.81.14.92.2

1.812.32

1,40815,0482,3431,778537

510(10)

53.7

57.616.46.48.2

.4083.3

13.7

4.8

.35

53.9

.22

.515

.763

.467

1.651

59.7413.748.05

46.0140.0025.09

9.21.04.01.5

1.842.33

1,74814,6002,1891,960

638

5281

54.8

57.4

16.36.3

2 10.0.4002 4.1

995

13.9

4.8

.35

60.6

76.:131.7

949.7.4

227.1

11.746.1

336.4350.2

1,690.8566.8104.095.1

957.283.3

673.597.9

.21

.493

.780

.472

1.655

67.7012.367.94

55.3448.8830.40

10.31.53.82.0

1.922.36

31.7

284.7

' 1,967' 14,115

' 2,0261, 945'574

456(10)

56.5

57.0

6.4

"2.~6

22.7

5.9

«.26

60.8

.21

.496

.778

70.4114.138.61

56.2849.6629.34

6.2

4.72.3

1.922.36

1,50411,1751,7661,529487

524

'56.6

'59.8

6.4

3.3

17.7

5.2

.29

51.3

.496

.776

64.7512.298.5152.4646.9526.89

1.922.36

*>60.0

.516

.794

r Revised. P Preliminary. i Season average. 3 For 5 weeks, other months, 4 weeks.3 Monthly average. « Effective Sept. 1976 SURVEY, data omit production and stocks of

saran and spandex yarn. »Effective 1976, production of blanketing is included in 100%spun yarn fabric (prior to 1976, in "all other group," not shown separately). 6 Avg. forMay-Dec. 7 Average for sales prior to Apr. 1,1977. 8 Avg. for Feb.-Dec. 9 EffectiveJan. 1,1978, includes reexports, formerly excluded. i° Less than 500 bales.

1[ Based on 480-lb. bales, » price reflects sales as of the 15th; restated ' price reflects totalquantity purchased and dollars paid for entire month (' price includes discounts andpremiums).

9 Includes data not shown separately. ® Net-weight (480-lb.) bales.

d" Effective Jan. 1976, specifications for the price formerly designated fine good Frenchcombing and staple have been changed as shown above. Effective with the May 1976 SURVEYthe foreign wool price is quoted including duty. .

•New series. Apparel (BuCensus)—Annual totals derived from firms accounting for 99%of total output of these items; current monthly estimates, from smaller sample. Monthly datafor 1975, adjusted to annual totals, are available. Coats exclude all fur, leather, and raincoats.Suits omit garments purchased separately as coordinates. Except for the year 1974, earliermonthly data are available, except for suits. Prices (USDL, BLS)—Data not available priorto 1976. * Avg. for Jan.-Apr.; June-Dec. c Corrected.




1976 1977

Annual

1977


1978


TEXTILE PRODUCTS—Continued

APPAREL-Con.

Men's apparel cuttings:Suits* thous. units..Coats (separate), dress and sportt --doTrousers (separate), dress and sportt doSlacks (jean cut), casual t thous. doz__Shirts, dress, sport, inc. knit outerwear i___do

Hosiery, shipments thous. doz. pairs..

«16,224• 12,874132,16311,73236,797

240,918

•16,065"13,652125,82715,53732,523248,144

1,3981,15110,0851,2692,67224,084

1,5361,329

10,4821,4802,711

23,283

1,4941,28510,1081,3982,67624,594

1,3841,1679,2061,2602,66222,284

1,1931,0997,4081,3012,33218,336

1,3351,0318,4991,1902,31818,384

1,261960

9,4721,2832,298

19,418

1,4961,378

10,5051,2952,784

21,859

1,3811,1939,2411,2392,609

21,183

1,4321,3769,3681,1&32,69122,541

' 1,438' 1,291

' 1, 272' 2, 86924,987

831784

5,751786

1,98722,044 24,569

TRANSPORTATION EQUIPMENT

AEROSPACE VEHICLESOrders, new (net), qtrly, total mil. $..

U.S. Government doPrime contract— do

Sale" (net), receipts, or billings, qtrly, total doU.S. Government do

Backlog of orders, end of period 9 doU.S. Government do

Aircraft (complete) and parts doEngines (aircraft) and parts doMissiles, space vehicle systems, engines, propul-

sion units, and parts mil. $_.Other related operations (conversions, modifica-

tions), products, services mil. $..

Aircraft (complete):Shipments do...

Airframe weight thous. lb.Exports, commercial mil. $.

MOTOR VEHICLES (NEW)Passenger cars:

Factory sales (from U.S. plants), total thous.Domestic _ do...

Retail sales, total, not seasonally adj do...DomesticsA- do...ImportsA do...

Total, seas, adjusted at annual rate t mil-Domestics A t do...ImportsA t .._ do...

Retail inventories, end of mo., domestics: ANot seasonally adjusted thous.Seasonally adjusted f do...

Inventory-retail sales ratio, domestics A t

Exports (BuCensus), assembled cars. thous..To Canada do

Imports (BuCensus), complete units. doFrom Canada, total do

Registrations©, total new vehicles doImports, incl. domestically sponsored do

Trucks and buses:Factory sales (from U.S. plants), total thous..

Domestic- doRetail sales, seasonally adjusted:*

Light-duty, up to 14,000 lbs. GVW doMedium-duty, 14,001-26,000lbs. GVW...do....Heavy-duty, 26,001 lbs. and over GVW..do

Retail inventories, end of period, seasonally ad-justed* ..- thous..

Exports (BuCensus), assembled units doImports (BuCensus), including separate chassis

and bodies _ thous..Registrations©, new vehicles, excluding buses not

produced on truck chassis _ thous..

Truck trailers and chassis, complete (excludes de-tachables), shipments number..

Vans.. doTrailer bodies (detachable), sold separately.—doTrailer chassis (detachable), sold separately ..do

RAILROAD EQUIPMENTFreight cars (new), for domestic use; all railroads

and private car lines (excludes rebuilt cars andcars for export):

Shipments number-Equipment manufacturers ..do

New orders doEquipment manufacturers do

Unfilled orders, end of period. _ doEquipment manufacturers do__.

Freight cars (revenue), class 1 railroads (AAR):§Number owned, end of period thous.

Held for repairs, % of total ownedCapacity (carrying), total, end ofmo-.mil. tons.

Average per car tons-

35,99121,05632,39030,36319,083

39,68222,12117,321

3,558

6,286

5,542

4,646.849,09413,207

8,4987,83810,1108,6111,498

1,4651,5191.9

680.46573. 472,536.7825.6

* 9,7524 1,447

2,9792,734

2,762.8161.7119.6

546.4199. 63

812.83

< 3,058

105,43761,7267,3165,678

52,54845, 61836,148

i 30,54623,41518,733

1,3328.8

97.7173.37

37,80221,70634,74632,93420,243

44,28725,35519,360

5,170

5,981

6,395

4,700.9' 47,6472,605

9,1998,51111,1859,1092,075

1,7311,7842.3

697.20591.512,791. 3849.2

* 10,826' 1,977

3,4403,178

3,145.0171.5169.1

716.1202.55

822.43

' 3,509

159,297' 98, 687

7,19320,662

150,927i 45,872i 66,750i 57,40236,41029,490

1,2678.9

95.6475.50

335.73,578177

50547493172720411.39.22.1

1,5631,7122.2

27.8523.39210.435.2

31,027' s 202

274257

257.013.214.3

656.915.48

58.75

'3 318

15,0419,465

6531,761

4.3703,8874,4124,41229,21626,867

1,3028.6

97.5674.94

7,8934,0377,2428,0354,966

39,54622,29117,8203,862

5,112

6,004

403.73,813171

73967182965717110.58.62.0

1,6691,7452.4

58.6149.42200.054.7

'4 919

305280

255.613.514.2

674.214.95

62.20

15,1389,583605

2,222

5,2324,6995,3764,97629,34327,127

1,2998.7

97.4675.05

564.14,743434

874813

1,01487014411.09.11.9

1,6291,7382.3

70.9558.61225.361.0

••4 866••4 138

319

284.713.714.7

704.815.68

78.27

15,0419,521576

2,087

3,8963,4525,6733,17330,97326,701

1,2948.7

97.1975.13

366.53,872180

76771888173814310.88.72.1

1,7091,7602.4

51.6141.93242.671.3

"•3 788••3 123

278257

280.614.014.5

736.416.52

67.02

'3 275

14,5979,242603

2,212

4,0093,4774,0534,05330,75727,017

1,2908.8

97.1275. 2!

13,5738,27112,7318,8325,207

44,28725,35519,3605,170

5,981

6,395

525.34,481284

63579564614911.29.32.1

1,7311,7842.3

46.8437.00257.061.8

r 3946'170

256235

297.514.614.4

736.014.88

81.31

' 3 336

13,0128,169

5192,115

4,6524,31410,5507,03236,41029,490

1,2678.9

95.6475.50

294.52,624

«80

65761668754514210.18.02.1

1,8871,8242.8

«47.09*38.S0

«55.5S6983 126

240223

257.313.214.2

717.4813.60

6 86.15

4 251

12,5907,817483

2,265

3,7623,5226,3446,14438,19531,315

1,2639.1

95.4475.58

363.03,604203

67562377762814910.58.52.0

1,9521,8482.6

53.7241.81253.661.15 7615 151

268247

276.613.314.7

713.4

18.58

84.67

5 282

14,0528,637408

2,429

3,7953,4836,3526,35240,60234,034

1,2539.3

94.8475.66

10,8075,56710,0848,5115,093

46,79625,84320,3305,192

6,163

478.54,287172

909842

1,07888319511.89.82.1

1,9911,8662.3

62.8449.56299.178.95 861»162

341311

308.416.318.3

715.121.72

103.13

5 301

17,54311,653

5783,341

4,8744,4894,3464,346

45, 38739,204

1,2479.5

94.4775.74

436.23,902

210

8061,043

863180

12.310.22.1

2,0081,877

2.2

70.4857.21310.178.13 908'162

319291

305.914.716.5

717.022.86

96.87

3 315

15,5409,930

3522,643

4,7024,35110, 25810,00850,94344,861

1,2479.5

94.4575.73

434.85,113165

919850

1,15996319612.110.02.1

1,9701,8182.2

69.3257.92266.573.5*979*162

338309

296.714.017.1

696.022.74

92.12

3 337

17,58911,150

6222,531

5,8435,64416,90716,90761,80255,919

1,245

75.83

662.26,293275

8211,13795018711.89.72.0

1,9111,7212.1

70.6358.20281.486.8

•1,0445 165

355324

316.914.717.6

675.224.24

97.00

5 351

16,87210,967

'540' 2, 421

6,8936,11314,81514,81569,29864,195

1,2429.3

94.3075.94

469.14,959248

58955393076216811.09.11.9

1,7291,6942.2

45.8333.75236.847.6

3 1,0533 182

272254

281.714.018.6

658.218.05

85.88

3 380

13, 7708,857457

2,098

4,7534,35111,59911,26575, 46170,426

1,2399.0

94.2076.04

379

528492

'958'753'20511.99.92.0

1,5101,6552.0

36.1125.95116.441.1

31, 0613 198

281266

321.811.216.8

643.216.58

63.80

6,19813, 5S613, 08683, 23378,197

1,239

94.3876.20

a 737

P 8 2 8662

P 1 6 6P I O . 8

8.9Pl.9

1,6061,678

2.3

250.912.017.0

653.3

r Revised. v Preliminary. i Annual total includes revisions not distributed bymonths. a Estimate of production, not factory sales. 3 Excludes 2 States. 4 Excludeslbtate. 5 Excludes 3 States. • Beginning 1978, data may not be strictly comparable withthose for earlier years because of the revised export schedule.

JAnnual figures, "Apparel 1975," MA-23A(75)-l. Survey expanded and classificationchanged; not comparable with data prior to 1974.

9Total includes backlog for nonrelated products and services and basic research._ tSeas. adj. data (1971-74) in the Mar. 1976 SURVEY, p. 5, do not reflect end-digit revisions toimports and total sales introduced in the Feb. 1977 SURVEY.

ADomestics include U.S.-type cars produced in the United States and Canada; imports

cover 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.*New series. Source: Motor Vehicle Manufacturers Assn. of the U.S. (seas, adjustment

by BEA). Reporting firms do not represent the entire industry. Motor coaches are notcovered. Sales include imports of U.S. manufacturers only (all other imports are not covered).Units refer to complete vehicles and to chassis sold separately. Gross vehicle weight refersto the weight of the vehicle with full load. Seasonally adjusted monthly data back to 1971are available. aExcludes leisure-type; not strictly comparable with 1974.

U. S. GOVERNMENT PRINTING OFFICE : 1978 O - 275-875


INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40

SECTIONSGeneral:

Business indicators 1-7Commodity prices 8, 9Construction and real estate 10,11Domestic trade 11-13

Labor force, employment, and earnings 13-17Finance 17-22Foreign trade of the United States 22-24Transportation and communication 24,25

Industry:Chemicals and allied products 25, 26Electric power and gas 26Food and kindred products; tobacco 27-30Leather and products 30

Lumber and products 31Metals and manufactures 31-34Petroleum, coal, and products 34-36Pulp, paper, and paper products 36,37

Hubber and rubber products 37Stone, clay, and glass products 38Textile products 38-40Transportation equipment 40

INDIVIDUAL SERIESAdvertising 11» 16Aerospace vehicles 40Agricultural loans 17Air carrier operations 24Air conditioners (room) 34Aircraft and parts 7,40Alcohol, denatured and ethyl 26Alcoholic beverages 11,27Aluminum 33Apparel 1,4,8,9,11-16,40Asphalt 35,36Automobiles, etc 1,4-6, 8,9,11,12,20,23,24,40

Banking 17,18Barley 27Battery shipments 34Beef and veal 28Beverages 9,11, 22,23,27Blast furnaces, steel mills 5-7Bonds, issued, prices, sales, yields 20, 21Brass and bronze 33Brick 38Building and construction materials 4,6,

7,11,31,38Building costs 10,11Building permits 10Business incorporations (new), failures 7Business sales and inventories 5Butter 27

Cattle and calves 28Cement and concrete products 9,11,38Cereal and bakery products 9Chain-store sales, firms with 11 or more stores. . . 13Cheese 27Chemicals 4,6,9,14-16,20,23,25,26Cigarettes and cigars 30Clay products 9,38Coal 4,9,23,34,35Cocoa 23,29Coffee 23,29Coke 35Combustion, atmosphere, heating equipment 34Communication 2,20,25Confectionery, sales.Construction:

ContractsCostsEmployment, unemployment, hours, earnings. .Fixed investment, structures.

29

1010,1113-16

1Highways and roads 10,11Housing starts 10Materials output indexes 11New construction put in place 10

Consumer credit 18Consumer expenditures 1Consumer goods output, index 4Consumer Price Index 8Copper 33Corn 27Cost of living (see Consumer Price Index) 8Cotton, raw and manufactures 8,9,22,38,39Cottonseed oil 30Credit, short- and intermediate-term 18Crops 3,8,27,28,30,38Crude oil. 4,35Currency in circulation 20

Dairy products 3,8,9,27Debits, bank 17Debt, U.S. Government 19Deflators, GNP 2Department stores, sales, inventories 12,13Deposits, bank 17,20Dishwashers 34Disputes, industrial 16Distilled spirits 27Dividend payments, rates, and yields. 2, 3,20, 21Drugstores, sales 12,13

3b

Earnings, weekly and hourly 15,16Eating and drinking places 12,13Eggs and poultry 3,8,9,29Electric power 4,9,26Electrical machinery and equipment 5-7,

9,14,15,20,23,24,34Employee-hours, aggregate, and indexes 15Employment.. 13,14Expenditures, U.S. Government 19Explosives 26Exports (see also individual commodities) 1, 3,22-24

Failures, industrial and commercial 7Farm income, marketings, and prices 2,3,8,9Farm wages 16Fats and oils 9,23,29,30Federal Government finance 19Federal Reserve banks, condition of 17Federal Reserve member banks 17Fertilizers 9,25Fire losses 11Fish. 29Flooring, hardwood -. 31Flour, wheat 28Food products 1,4,6,8,9,14-16,20,22,23,27-30Foreclosures, real estate 11Foreign trade (see also individual commod.). . . . . 22-24Freight cars (equipment) 40Fruits and vegetables 8,9Fuel oil 35,36Fuels 4,8,9,23,34-36Furnaces 34Furniture 5,9,12-15

Gas, output, prices, sales, revenues 4,9,26Gasoline 1,35Glass and products 38Glycerin 26Gold 19Grains and products 8,9,22,27,28Grocery stores 12,13Gross national product 1Gross national product, price deflators 2Gross private domestic investment 1Gypsum and products 9, 38

Hardware stores.Heating equipmentHides and skinsHighways and roadsHogsHome electronic equipmentHome Loan banks, outstanding advancesHome mortgagesHosieryHotels and motor-hotelsHours, average weeklyHousefurnishings 1,4, 5,8,Household appliances, radios, and television sets.

8,9.Housing starts and permits

129,349,30

10,1128

911It402515

11,124,

12,3410

Imports (see also individual commodities)... 1,3, 23, 24Income, personal 2, 3Income and employment tax receipts 19Industrial production indexes:

By industry 4,5By market grouping 4

Installment credit 13,18Instruments and related products 5,6,14,15Insurance, life 19Interest and money rates 18International transactions of the United States . . . 3Inventories, manufacturers' and trade. . . . . . . 5—7,11,12Inventory-sales ratios 5Iron and steel 5,9,11, 20, 23,31,32

L a b o r a d v e r t i s i n g index ,"s toppages , t u r n o v e r 16L a b o r force . . . . 13L a m b and m u t t o n . . . . . . . . . . . . . . . . . . . . / . . . . . . . 2 8L e a d . . . . . . . . . 3 3L e a t h e r a n d p r o d u c t s . . . . 4 , 9 , 1 4 - 1 6 , 30Li fe insurance . . . . . . . . - . 19L i v e s t o c k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 , 8 , 9 , 2 8L o a n s , real e s t a t e , agr icu l tura l , b a n k (see a l so

C o n s u m e r c r e d i t ) . 1 1 , 1 7 , 1 8L u b r i c a n t s . . . . . . . . . . . . . . . . . — . . 3 5 , 3 6L u m b e r a n d p r o d u c t s . 5 , 9 , 1 1 , 1 2 , 1 4 , 1 5 , 2 0 , 3 1

M a c h i n e t o o l s , 3 4M a c h i n e r y . . . . . . . . . . . . . . . . . 5 - 7 , % 1 4 , 1 5 , 2 0 , 2 3 , 2 4 , 3 4M a i l order h o u s e s , s a l e s , . . . . . . . . . . , . . . . . . . . 1 2M a n m a d e fibers a n d m a n u f a c t u r e s . . . « . . . . . . . . . . 9 , 3 9Manufacturers* sa les (or s h i p m e n t s ) , inventor i e s ,

o r d e r s . . . . . . . . . . , ; . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 - 7M a n u f a c t u r i n g e m p l o y m e n t , u n e m p l o y m e n t , pro-

d u c t i o n workers , h o u r s , e a r n i n g s . . . . . . . . . . . . . . 1 4 - 1 6M a n u f a c t u r i n g p r o d u c t i o n i n d e x e s . . . . . . . . . . . 4 , 5M a r g a r i n e , . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . 2 9M e a t a n i m a l s a n d m e a t s . . . . . . . . . . 3 , 8 , 9 , 2 2 , 2 3 , 2 8 , 2 9M e d i c a l a n d persona l c a r e . . . . . . . . . . . . . . . . . . . . . 8M e t a l s . . . . . . . . . . . . . . . . 4 - 7 , 9 , 1 4 , 1 5 , 2 0 , 2 2 , 2 3 , 3 1 - 3 3M i l k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 7M i n i n g a n d m i n e r a l s . . . . . . . . . . . . . . . . . 2 , 4 , 9 , 1 4 - 1 6 , 2 0M o n e t a r y s t a t i s t i c s . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 9 , 2 0M o n e y s u p p l y . . . . . . . . . . . . . . . . . . . . . . — . . . . . • . 2 0M o r t g a g e appl i ca t ions , l o a n s , r a t e s . . . . . . . . . . . . . I I , 1 7 - 1 9M o t o r c a r r i e r s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4M o t o r v e h i c l e s . . . . . . . . . . . . . . 1 , 4 - 6 , 8 , 9 V 1 1 , 2 0 , 2 3 , 4 0

National defense expenditures 1,19National income and product 1,2National parks, visits 25Newsprint 23,37New York Stock Exchange, selected data 21,22Nonferrous metals 5-7,9,20,23,33Noninstallment credit 18

Oats 27Oils and fats 9,23,29,30Orders, new and unfilled, manufacturers' 7Ordnance 14,15

Paint and paint materials 9,26Paper and products and pulp 4,6,

9,14-16,20,23,36,37Parity ratio 8Passenger cars 1,4-6,8,9,11,12,20,23,24,40Passports issued 25Personal consumption expenditures 1Personal income 2,3Personal outlays 2Petroleum and products 4, 6,

8,9,14,15,20,23,35,36Pig iron 31, 32Plant and equipment expenditures 2Plastics and resin materials 26Population 13Pork 28, 29Poultry and eggs 3,8,9,29Price deflators, implicit, GNP 2Prices (see also individual commodities) 8,9Printing and publishing 4,14-16Private sector employment, hours, earnings 13-16Profits, corporate 2, 20Public utilities 2,4,10,20,21, 26Pulp and pulpwood , 36Purchasing power of the dollar 9

Radio and television 4,11, 34Railroads 2,16,17,21,24,25,40Ranges 34Rayon and acetate 39Real estate l l f 17,19Receipts, U.S. Government 19Refrigerators 34Registrations (new vehicles) 40Rent (housing) 8Retail trade 5,7,12-16,18Rice 28Rubber and products (incl. plastics) 4,6,

9,14-16,23,37

Saving, personal 2Savings deposits 17Securities issued 20Security markets 20-22Services 1,8,14-16Sheep and lambs 28Shoes and other footwear 9,12,30Silver 19Soybean cake and meal and oil 30Spindle activity, cotton 39Steel (raw) and steel manufactures 23,31,32Steel scrap 31Stock market customer financing 20Stock prices, earnings, sales, etc 21,22Stone, clay, glass products 5, 6,9,14,15, 20,38Sugar . . . . 23,29Sulfur 25Sulfuric acid 25Superphosphate 25

Tea imports 29Telephone and telegraph carriers 25Television and radio 4,11, 34Textiles and products 4,6,9,14-16,20,23,38-40Tin 33Tires and inner tubes 9,12,13, 37Tobacco and manufactures 4,6,8,14,15,30Tractors • • • • 34Trade (retail and wholesale) 5f 11,12,14-16Transit lines, urban 24Transportation 1,2,8,14-16,20-22,24, 25Transportation equipment 5-7,14,15,20,40Travel 24, 25Truck trailers 40Trucks (industrial and other) 34, 40

Unemployment and insurance 13,17U.S. Government bonds 1U.S. Government finance. . 19U.S. International transactions 3Utilities 2,4,8,10,21,22,26

Vacuum cleaners 34Variety stores Ai IS* 1AVegetable oils 23,29,30Vegetables and fruits 8,9Veterans* unemployment insurance 1«

Wages and salaries 2,3,Washers and dryersWater heatersWheat and wheat flourWholesale Price IndexesWholesale trade 5,7,11,Wood pulpWool and wool manufactures

Zinc.

15, 16343428

8,914-16

369,39

33


UNITED STATES

GOVERNMENT PRINTING OFFICEPI BL'C DOCUMENTS D F. PART ME NT

WASHINGTON. D.C. 20402

OFFICIAL BUSINESS


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