Full text of Economic Indicators : January 2009
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111th Congress, 1st Session Economic Indicators JANUARY 2009 (Includes data available as of February 6, 2009) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE sroberts on PROD1PC70 with ECOIND WASHINGTON : 2009 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00039 Fmt 3439 Sfmt 3439 E:\HR\OC\ECOIND.039 ECOIND JOINT ECONOMIC COMMITTEE (Created pursuant to Sec. 5(a) of Public Law 304, 79th Cong.) CAROLYN B. MALONEY, New York, Chair CHARLES E. SCHUMER, New York, Vice Chairman HOUSE OF REPRESENTATIVES MAURICE D. HINCHEY, New York BARON P. HILL, Indiana LORETTA SANCHEZ, California ELIJAH E. CUMMINGS, Maryland VIC SNYDER, Arkansas KEVIN BRADY, Texas RON PAUL, Texas MICHAEL C. BURGESS, M.D., Texas JOHN CAMPBELL, California SENATE EDWARD M. KENNEDY, Massachusetts JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, JR., Pennsylvania JIM WEBB, Virginia SAM BROWNBACK, Kansas JIM DEMINT, South Carolina JAMES E. RISCH, Idaho ROBERT F. BENNETT, Utah NAN GIBSON, Executive Director COUNCIL OF ECONOMIC ADVISERS CHRISTINA D. ROMER, Chair [PUBLIC LAW 120—81ST CONGRESS; CHAPTER 237—1ST SESSION] JOINT RESOLUTION [S.J. Res. 55] To print the monthly publication entitled ‘‘Economic Indicators’’ Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Joint Economic Committee be authorized to issue a monthly publication entitled ‘‘Economic Indicators,’’ and that a sufficient quantity be printed to furnish one copy to each Member of Congress; the Secretary and the Sergeant at Arms of the Senate; the Clerk, Sergeant at Arms, and Doorkeeper of the House of Representatives; two copies to the libraries of the Senate and House, and the Congressional Library; seven hundred copies to the Joint Economic Committee; and the required numbers of copies to the Superintendent of Documents for distribution to depository libraries; and that the Superintendent of Documents be authorized to have copies printed for sale to the public. Approved June 23, 1949. Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. Economic Indicators, published monthly, is available at $5.00 a single copy ($7.00 foreign), or by subscription at $58.00 per year ($81.20 for foreign mailing) from: SUPERINTENDENT OF DOCUMENTS GOVERNMENT PRINTING OFFICE WASHINGTON, D.C. 20402 sroberts on PROD1PC70 with ECOIND For sale by the U.S. Government Printing Office Superintendent of Documents, Mail Stop: SSOP, Washington, DC 20402–9328 Also available on the internet at the following address: http://www.gpoaccess.gov/indicators ii VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00040 Fmt 3440 Sfmt 3440 E:\HR\OC\ECOIND.040 ECOIND TOTAL OUTPUT, INCOME, AND SPENDING GROSS DOMESTIC PRODUCT In the fourth quarter of 2008, according to advance estimates, current-dollar gross domestic product (GDP) fell 4.1 percent (annual rate), real GDP (GDP in chained 2000 dollars) fell 3.8 percent, and the implicit price deflator fell 0.3 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] 1999 ...................... 2000 ...................... 2001 ...................... 2002 ...................... 2003 ...................... 2004 ...................... 2005 ...................... 2006 ...................... 2007 ...................... 2008 p .................... 2005: I ................ II ............... III ............. IV .............. 2006: I ................ II ............... III ............. IV .............. 2007: I ................ II ............... III ............. IV .............. 2008: I ................ II ............... III ............. IV p ............ 1 GDP Net exports Exports 9,268.4 9,817.0 10,128.0 10,469.6 10,960.8 11,685.9 12,421.9 13,178.4 13,807.5 14,280.7 12,155.4 12,297.5 12,538.2 12,696.4 12,959.6 13,134.1 13,249.6 13,370.1 13,510.9 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8 14,264.6 ¥260.5 ¥379.5 ¥367.0 ¥424.4 ¥499.4 ¥615.4 ¥713.6 ¥757.3 ¥707.8 ¥665.1 ¥670.7 ¥680.9 ¥725.1 ¥777.7 ¥761.7 ¥777.2 ¥792.7 ¥697.7 ¥728.8 ¥723.1 ¥682.6 ¥696.7 ¥705.7 ¥718.2 ¥707.7 ¥528.9 991.2 1,096.3 1,032.8 1,005.9 1,040.8 1,182.4 1,311.5 1,480.8 1,662.4 1,867.8 1,266.8 1,305.1 1,314.5 1,359.6 1,423.2 1,462.8 1,492.5 1,544.5 1,560.5 1,614.4 1,714.9 1,759.7 1,820.8 1,923.2 1,968.9 1,758.4 6,282.5 6,739.4 7,055.0 7,350.7 7,703.6 8,195.9 8,694.1 9,207.2 9,710.2 10,058.5 8,480.9 8,610.8 8,791.1 8,893.7 9,026.3 9,161.9 9,283.7 9,357.0 9,524.9 9,657.5 9,765.6 9,892.7 10,002.3 10,138.0 10,163.5 9,930.2 1,625.7 1,735.5 1,614.3 1,582.1 1,664.1 1,888.6 2,086.1 2,220.4 2,130.4 2,004.1 2,046.0 2,039.7 2,084.2 2,174.6 2,236.7 2,253.7 2,231.7 2,159.5 2,117.8 2,147.2 2,164.0 2,092.3 2,056.1 2,000.9 2,010.9 1,948.4 Government consumption expenditures and gross investment Federal Imports Total Total 1,251.7 1,475.8 1,399.8 1,430.3 1,540.2 1,797.8 2,025.1 2,238.1 2,370.2 2,533.0 1,937.5 1,986.0 2,039.6 2,137.4 2,184.9 2,240.0 2,285.2 2,242.2 2,289.4 2,337.5 2,397.5 2,456.5 2,526.5 2,641.4 2,676.6 2,287.4 less exports of goods and services plus imports of goods and services. 1,620.8 1,721.6 1,825.6 1,961.1 2,092.5 2,216.8 2,355.3 2,508.1 2,674.8 2,883.2 2,299.2 2,328.0 2,388.0 2,405.9 2,458.4 2,495.7 2,526.9 2,551.4 2,597.0 2,655.9 2,703.5 2,742.9 2,798.1 2,873.7 2,946.1 2,914.9 555.8 578.8 612.9 679.7 756.4 825.6 875.5 932.2 979.3 1,071.2 861.0 867.1 894.2 879.5 922.8 928.5 935.5 941.7 950.3 974.6 994.0 998.3 1,026.5 1,056.1 1,098.0 1,103.9 National defense 360.6 370.3 392.6 437.1 497.2 550.7 588.1 624.1 662.2 734.3 576.1 584.4 606.3 585.4 613.6 623.1 624.0 635.9 636.9 656.8 675.6 679.3 699.9 723.3 759.5 754.4 Nondefense 195.2 208.5 220.3 242.5 259.2 274.9 287.4 308.0 317.1 336.9 284.9 282.8 288.0 294.1 309.3 305.4 311.5 305.9 313.4 317.8 318.3 319.0 326.6 332.9 338.5 349.6 State and local 1,065.0 1,142.8 1,212.8 1,281.5 1,336.0 1,391.2 1,479.8 1,575.9 1,695.5 1,812.1 1,438.2 1,460.9 1,493.8 1,526.4 1,535.5 1,567.2 1,591.4 1,609.7 1,646.8 1,681.3 1,709.5 1,744.6 1,771.6 1,817.6 1,848.1 1,811.0 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 9,201.5 9,760.5 10,159.7 10,457.7 10,946.5 11,627.3 12,378.6 13,129.0 13,811.2 14,320.6 12,072.7 12,278.1 12,527.2 12,636.1 12,906.5 13,068.3 13,187.1 13,354.3 13,526.5 13,738.4 13,927.6 14,052.3 14,176.4 14,370.5 14,462.5 14,272.9 9,528.9 10,196.4 10,495.0 10,894.0 11,460.2 12,301.3 13,135.5 13,935.7 14,515.3 14,945.8 12,826.1 12,978.4 13,263.3 13,474.1 13,721.4 13,911.3 14,042.3 14,067.9 14,239.7 14,460.6 14,633.1 14,728.0 14,856.6 15,012.7 15,120.5 14,793.5 9,302.2 9,855.9 10,171.6 10,500.2 11,017.6 11,762.1 12,514.9 13,256.6 13,910.0 .............. 12,258.0 12,389.7 12,641.2 12,770.6 13,039.2 13,219.4 13,316.1 13,452.0 13,583.3 13,797.2 14,062.8 14,196.6 14,289.0 14,408.3 14,539.6 .............. Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 sroberts on PROD1PC70 with ECOIND Period Exports and imports of goods and services Personal Gross Gross conprivate domestic sumption domestic product expendi- investtures ment REAL GROSS DOMESTIC PRODUCT [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Gross private domestic investment Gross domestic product Period 1999 ......... 2000 ......... 2001 ......... 2002 ......... 2003 ......... 2004 ......... 2005 ......... 2006 ......... 2007 ......... 2008 p ........ 2005: I .... II ... III IV .. 2006: I .... II ... III IV .. 2007: I .... II ... III IV .. 2008: I .... II ... III IV p 9,470.3 9,817.0 9,890.7 10,048.8 10,301.0 10,675.8 10,989.5 11,294.8 11,523.9 11,671.3 10,875.8 10,946.1 11,050.0 11,086.1 11,217.3 11,291.7 11,314.1 11,356.4 11,357.8 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4 11,599.4 Personal conNonresi- Resi- Change sumption dential dential in priexpendifixed fixed vate tures invest- invest- invenment ment tories 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,791.7 8,029.0 8,252.8 8,276.2 7,697.5 7,766.4 7,838.1 7,864.9 7,947.4 8,002.1 8,046.3 8,119.9 8,197.2 8,237.3 8,278.5 8,298.2 8,316.1 8,341.3 8,260.6 8,186.9 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,408.2 1,200.4 1,219.0 1,237.1 1,248.2 1,295.2 1,315.4 1,332.7 1,329.3 1,340.4 1,373.8 1,402.9 1,414.7 1,423.1 1,431.8 1,425.7 1,352.2 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 359.2 582.1 595.8 601.7 602.0 596.5 570.1 536.7 508.4 486.4 471.7 445.3 411.6 383.0 369.6 353.7 330.7 68.9 56.5 ¥31.7 12.5 14.3 54.3 38.9 42.3 ¥2.5 ¥21.0 74.6 16.7 11.0 53.5 45.9 56.9 53.3 13.1 ¥15.0 ¥2.8 16.0 ¥8.1 ¥10.2 ¥50.6 ¥29.6 6.2 Exports and imports of goods and services Government consumption expenditures and gross investment Federal Net exports Exports Imports Total ¥296.2 ¥379.5 ¥399.1 ¥471.3 ¥518.9 ¥593.8 ¥616.6 ¥615.7 ¥546.5 ¥388.2 ¥623.7 ¥601.3 ¥603.6 ¥637.8 ¥636.0 ¥619.4 ¥623.0 ¥584.3 ¥618.6 ¥571.2 ¥511.8 ¥484.5 ¥462.0 ¥381.3 ¥353.1 ¥356.4 1,008.2 1,096.3 1,036.7 1,013.3 1,026.1 1,126.1 1,205.3 1,314.8 1,425.9 1,518.6 1,177.9 1,203.1 1,204.3 1,235.7 1,284.3 1,301.4 1,312.6 1,361.1 1,363.2 1,392.2 1,466.2 1,482.1 1,500.6 1,544.7 1,556.1 1,472.8 1,304.4 1,475.8 1,435.8 1,484.6 1,545.0 1,719.9 1,821.9 1,930.5 1,972.4 1,906.7 1,801.7 1,804.4 1,807.9 1,873.6 1,920.2 1,920.9 1,935.7 1,945.3 1,981.8 1,963.4 1,978.0 1,966.5 1,962.6 1,926.0 1,909.1 1,829.2 1,686.9 1,721.6 1,780.3 1,858.8 1,904.8 1,931.8 1,939.0 1,971.2 2,012.1 2,071.0 1,929.6 1,934.0 1,950.4 1,941.9 1,960.5 1,966.6 1,974.9 1,982.7 1,987.1 2,006.4 2,025.3 2,029.4 2,039.1 2,058.9 2,088.1 2,097.7 1 GDP less exports of goods and services plus imports of goods and services. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Total National defense Nondefense 573.7 578.8 601.4 643.4 687.1 715.9 724.5 741.0 752.9 797.7 718.0 720.1 736.8 723.2 740.6 737.7 741.1 744.4 737.5 749.6 762.7 761.7 772.6 785.0 810.8 822.3 372.2 370.3 384.9 413.2 449.0 475.0 482.2 490.0 502.1 537.7 476.3 481.0 495.1 476.5 486.7 489.0 487.9 496.3 488.8 498.8 511.0 509.9 518.9 528.1 550.4 553.3 201.5 208.5 216.5 230.2 238.0 240.7 242.0 250.8 250.4 259.4 241.5 238.8 241.4 246.5 253.8 248.5 253.1 247.8 248.6 250.5 251.2 251.5 253.2 256.3 259.5 268.4 State and local 1,113.2 1,142.8 1,179.0 1,215.4 1,217.8 1,215.8 1,214.3 1,230.2 1,259.0 1,274.3 1,211.4 1,213.8 1,213.6 1,218.5 1,219.9 1,228.8 1,233.7 1,238.2 1,249.3 1,256.6 1,262.6 1,267.5 1,266.7 1,274.4 1,278.7 1,277.2 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 9,404.0 9,760.5 9,920.9 10,036.5 10,285.1 10,619.8 10.947.3 11,249.3 11,523.4 11,690.0 10,799.3 10,925.9 11,035.5 11,028.4 11,167.6 11,232.1 11,257.8 11,339.7 11,370.5 11,490.5 11,605.0 11,628.0 11,653.7 11,778.8 11,739.2 11,588.0 9,767.7 10,196.4 10,290.1 10,517.7 10,815.5 11,261.4 11,597.8 11,904.1 12,066.8 12,052.5 11,490.6 11,539.4 11,645.4 11,716.2 11,846.2 11,904.4 11,930.6 11,935.6 11,970.9 12,058.2 12,135.1 12,103.2 12,105.8 12,102.6 12,057.8 11,943.7 9,504.7 9,855.9 9,933.6 10,079.0 10,355.3 10,746.0 11,072.1 11,362.3 11,609.8 .............. 10,968.4 11,028.4 11,140.7 11,151.2 11,286.5 11,365.1 11,370.8 11,426.5 11,419.1 11,541.7 11,719.9 11,758.3 11,760.9 11,822.2 11,817.3 .............. Source: Department of Commerce, Bureau of Economic Analysis. IMPLICIT PRICE DEFLATORS FOR GROSS DOMESTIC PRODUCT [Index numbers, 2000=100; quarterly data are seasonally adjusted] Personal consumption expenditures Gross domestic product sroberts on PROD1PC70 with ECOIND Period 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 ................. 2008 p ................ 2005: I ............ II ........... III ......... IV .......... 2006: I ............ II ........... III ......... IV .......... 2007: I ............ II ........... III ......... IV .......... 2008: I ............ II ........... III ......... IV p ........ 97.868 100.000 102.399 104.187 106.404 109.462 113.034 116.676 119.816 122.357 111.765 112.346 113,468 114.525 115.533 116.317 117.107 117.732 118.956 119.547 119.997 120.743 121.508 121.890 123.056 122.976 Total 97.575 100.000 102.094 103.542 105.597 108.391 111.581 114.675 117.659 121.535 110.177 110.872 112.158 113.081 113.575 114.493 115.377 115.235 116.197 117.241 117.964 119.215 120.277 121.539 123.036 121.295 Durable goods Nondurable goods 101.625 100.000 98.113 95.767 92.366 90.695 89.984 88.771 87.154 86.069 90.549 90.345 89.631 89.420 89.211 89.031 88.729 88.129 87.720 87.367 86.941 86.600 86.584 86.240 86.113 85.258 Gross private domestic investment Services 96.174 100.000 101.531 102.090 104.145 107.626 111.606 114.985 118.408 124.558 109.536 110.081 113.038 113.697 113.786 115.151 116.410 114.578 116.021 117.825 118.675 121.085 123.053 125.014 128.123 122.000 Nonresidential fixed 97.393 100.000 103.256 106.019 109.379 112.929 116.700 120.752 124.712 128.719 115.131 116.130 117.079 118.423 119.304 120.276 121.272 122.122 123.194 124.212 125.173 126.248 127.128 128.445 129.532 129.762 100.057 100.000 99.683 99.513 99.591 100.896 103.829 107.277 108.740 110.510 102.769 103.448 103.959 105.091 106.199 107.058 107.527 108.294 108.654 108.729 108.556 109.010 109.173 109.784 110.909 112.264 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 95.780 100.000 104.633 107.240 112.372 120.587 129.268 136.898 c 138.885 135.781 125.349 127.444 130.819 133.311 135.466 136.737 137.163 138.477 139.197 138.730 138.803 138.780 137.878 136.665 135.512 132.650 Exports Imports Total 98.313 100.000 99.625 99.272 101.429 104.997 108.814 112.618 116.585 122.999 107.542 108.474 109.154 110.026 110.819 112.402 113.704 113.476 114.480 115.963 116.962 118.735 121.337 124.498 126.528 119.392 95.960 100.000 97.497 96.342 99.686 104.526 111.153 115.932 120.168 132.842 107.538 110.061 112.814 114.082 113.785 116.615 118.056 115.262 115.520 119.058 121.208 124.915 128.730 137.144 140.198 125.047 96.883 100.000 101.908 105.632 110.095 115.322 120.835 125.806 130.077 134.286 119.915 120.428 121.361 121.614 124.614 125.866 126.232 126.510 128.848 130.027 130.331 131.057 132.867 134.540 135.435 134.243 National defense Nondefense State and local 96.886 100.000 102.002 105.792 110.751 115.932 121.944 127.381 131.874 136.556 120.959 121.499 122.451 122.851 126.067 127.424 127.893 128.124 130.312 131.683 132.213 133.217 134.885 136.946 137.983 136.331 96.880 100.000 101.738 105.345 108.898 114.218 118.743 122.803 126.636 129.893 117.959 118.418 119.310 119.273 121.847 122.895 123.060 123.427 126.067 126.868 126.718 126.883 128.984 129.865 130.463 130.226 95.667 100.000 102.868 105.434 109.712 114.431 121.863 128.110 134.671 142.204 118.720 120.350 123.094 125.266 125.873 127.541 128.991 129.999 131.818 133.794 135.388 137.638 139.854 142.619 144.527 141.794 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND GROSS DOMESTIC PRODUCT AND RELATED PRICE MEASURES: INDEXES AND PERCENT CHANGES [Quarterly data are seasonally adjusted] Percent change from preceding period 1 Index numbers, 2000=100 Personal consumption expenditures (PCE) Gross domestic product (GDP) Personal consumption expenditures (PCE) Gross domestic product (GDP) Period Real GDP (chain-type quantity index) 1999 .................................... 2000 .................................... 2001 .................................... 2002 .................................... 2003 .................................... 2004 .................................... 2005 .................................... 2006 .................................... 2007 .................................... 2008 p .................................. 2004: I ............................... II ............................. III ............................ IV ............................ 2005: I ............................... II ............................. III ............................ IV ............................ 2006: I ............................... II ............................. III ............................ IV ............................ 2007: I ............................... II ............................. III ............................ IV ............................ 2008: I ............................... II ............................. III ............................ IV p ........................... 1 Quarterly GDP chain-type price index 96.469 100.000 100.751 102.362 104.931 108.748 111.944 115.054 117.388 118.889 107.402 108.325 109.287 109.977 110.786 111.502 112.560 112.928 114.264 115.022 115.250 115.681 115.696 117.056 118.425 118.374 118.631 119.460 119.308 118.157 GDP implicit price deflator 97.868 100.000 102.402 104.193 106.409 109.462 113.039 116.676 119.819 122.453 108.180 109.185 109.807 110.677 111.778 112.357 113.487 114.536 115.536 116.317 117.109 117.742 118.935 119.531 119.984 120.826 121.613 121.951 123.134 123.113 PCE (chain-type price index) PCE less food and energy price index 97.575 100.000 102.094 103.542 105.597 108.392 111.581 114.675 117.659 121.542 107.163 108.179 108.703 109.521 110.187 110.881 112.168 113.089 113.581 114.499 115.381 115.239 116.202 117.246 117.969 119.221 120.283 121.544 123.041 121.300 98.343 100.000 101.904 103.705 105.175 107.338 109.644 112.129 114.548 117.016 106.442 107.142 107.601 108.169 108.838 109.405 109.838 110.495 111.076 111.887 112.531 113.022 113.682 114.201 114.797 115.512 116.158 116.782 117.481 117.643 97.868 100.000 102.399 104.187 106.404 109.462 113.034 116.676 119.816 122.357 108.175 109.178 109.793 110.671 111.765 112.346 113.468 114.525 115.533 116.317 117.107 117.732 118.956 119.547 119.997 120.743 121.508 121.890 123.056 122.976 percent changes are at annual rates. Real GDP (chain-type quantity index) GDP (current dollars) 6.0 5.9 3.2 3.4 4.7 6.6 6.3 6.1 4.8 3.4 6.8 7.4 6.0 5.9 7.1 4.8 8.1 5.1 8.6 5.5 3.6 3.7 4.3 6.9 6.3 2.3 3.5 4.1 3.4 ¥4.1 GDP chain-type price index 4.5 3.7 .8 1.6 2.5 3.6 2.9 2.8 2.0 1.3 3.0 3.5 3.6 2.5 3.0 2.6 3.8 1.3 4.8 2.7 .8 1.5 .1 4.8 4.8 ¥.2 .9 2.8 ¥.5 ¥3.8 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 3.7 3.8 2.3 3.2 4.0 2.1 4.1 3.7 3.5 2.7 2.8 2.2 4.1 2.0 1.5 2.8 2.6 1.1 3.9 ¥.1 GDP implicit price deflator 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.1 3.7 3.8 2.3 3.2 4.0 2.1 4.1 3.8 3.6 2.7 2.7 2.2 4.2 2.0 1.5 2.5 2.6 1.3 3.9 ¥.3 PCE (chain-type price index) PCE less food and energy price index 1.7 2.5 2.1 1.4 2.0 2.6 2.9 2.8 2.6 3.3 3.5 3.8 2.0 3.0 2.5 2.5 4.7 3.3 1.8 3.3 3.1 ¥.5 3.4 3.6 2.5 4.3 3.6 4.3 5.0 ¥5.5 1.5 1.7 1.9 1.8 1.4 2.1 2.1 2.3 2.2 2.2 2.4 2.7 1.7 2.1 2.5 2.1 1.6 2.4 2.1 3.0 2.3 1.8 2.4 1.8 2.1 2.5 2.3 2.2 2.4 .6 Source: Department of Commerce, Bureau of Economic Analysis. NONFINANCIAL CORPORATE BUSINESS—GROSS VALUE ADDED AND PRICE, COSTS, AND PROFITS [Quarterly data at seasonally adjusted annual rates] Price per unit of real gross value added of nonfinancial corporate business (dollars) 1 2 Gross value added of nonfinancial corporate business (billions of dollars) 1 Unit nonlabor cost Period Current dollars Chained (2000) dollars 4,655.0 4,950.8 5,272.2 5,293.5 5,371.7 5,558.4 5,956.4 6,396.1 6,863.4 7,075.1 6,210.3 6,358.1 6,418.9 6,597.3 6,771.2 6,817.5 6,931.7 6,933.3 6,999.6 7,066.7 7,098.6 7,135.5 7,119.3 7,153.1 7,257.6 4,725.4 5,011.0 5,272.2 5,224.5 5,269.7 5,387.5 5,662.1 5,916.1 6,156.4 6,243.1 5,796.5 5,921.4 5,913.0 6,033.6 6,126.1 6,132.4 6,198.2 6,169.0 6,165.5 6,230.2 6,271.2 6,304.4 6,283.0 6,375.1 6,408.2 sroberts on PROD1PC70 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2005: ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ I ................................................... II ................................................. III ................................................ IV ................................................ 2006: I ................................................... II ................................................. III ................................................ IV ................................................ 2007: I ................................................... II ................................................. III ................................................ IV ................................................ 2008: I ................................................... II ................................................. III ................................................ Total Compensation of employees (unit labor cost) 0.985 .988 1.000 1.013 1.019 1.032 1.052 1.081 1.115 1.133 1.071 1.074 1.086 1.093 1.105 1.112 1.118 1.124 1.135 1.134 1.132 1.132 1.133 1.122 1.133 1 Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the Standard Industrial Classification (SIC); later estimates are based on the North American Industry Classification System (NAICS). 2 The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. Total 0.645 .652 .672 .688 .685 .687 .683 .689 .701 .725 .689 .682 .696 .689 .696 .698 .697 .714 .724 .722 .723 .730 .736 .726 .726 0.226 .229 .237 .257 .253 .253 .249 .257 .262 .270 .253 .253 .264 .257 .257 .261 .260 .266 .267 .269 .270 .271 .273 .272 .276 Consumption of fixed capital Taxes on production and imports 3 Net interest and miscellaneous payments 0.104 .105 .108 .124 .122 .122 .121 .126 .126 .132 .121 .121 .137 .124 .123 .125 .126 .129 .130 .131 .132 .133 .136 .136 .142 0.092 .092 .093 .094 .099 .103 .103 .105 .108 .109 .107 .107 .100 .106 .107 .108 .107 .109 .109 .109 .109 .109 .108 .107 .106 0.030 .032 .036 .039 .032 .028 .025 .026 .028 .029 .025 .025 .027 .027 .027 .028 .027 .028 .028 .029 .029 .029 .029 .029 .028 Corporate profits with inventory valuation and capital consumption adjustments 4 Total 0.114 .107 .090 .068 .081 .091 .120 .135 .153 .139 .129 .138 .126 .147 .152 .152 .161 .145 .143 .144 .139 .130 .125 .123 .130 Taxes on corporate income 0.034 .034 .032 .021 .018 .025 .034 .046 .050 .051 .044 .045 .045 .051 .049 .051 .052 .048 .052 .053 .051 .050 .045 .046 .047 Profits after tax 5 0.080 .073 .058 .047 .063 .066 .087 .089 .102 .088 .085 .093 .081 .097 .102 .102 .109 .096 .091 .091 .088 .080 .081 .077 .083 3 Less subsidies plus business current transfer payments. profits from current production. inventory valuation and capital consumption adjustments. Source: Department of Commerce, Bureau of Economic Analysis. 4 Unit 5 With 3 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00003 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.003 ECOIND NATIONAL INCOME [Billions of dollars; quarterly data at seasonally adjusted annual rates] Proprietors’ income 1 National income Period 1999 ........... 2000 ........... 2001 ........... 2002 ........... 2003 ........... 2004 ........... 2005 ........... 2006 ........... 2007 ........... 2008 p ......... 2005: I ...... II .... III ... IV ... 2006: I ...... II .... III ... IV ... 2007: I ...... II .... III ... IV ... 2008: I ...... II .... III ... IV p .. 1 With 8,236.7 8,795.2 8,979.8 9,229.3 9,632.3 10,306.8 10,974.0 11,795.7 12,270.9 ................ 10,826.3 10,958.9 10,779.5 11,331.3 11,611.1 11,738.5 11,848.6 11,984.7 12,087.4 12,233.6 12,338.6 12,424.1 12,447.6 12,468.6 12,478.8 ................ Compensation of employees 5,357.1 5,782.7 5,942.1 6,091.2 6,325.4 6,656.4 7,030.8 7,433.8 7,812.3 8,047.6 6,884.4 6,957.4 7,090.2 7,191.0 7,318.0 7,364.2 7,441.9 7,611.1 7,709.0 7,760.1 7,839.3 7,941.0 8,009.7 8,033.5 8,080.4 8,066.9 Farm 28.6 22.7 19.7 10.6 29.2 37.3 34.1 16.2 44.0 34.5 33.2 38.3 37.1 27.7 17.3 9.8 13.8 23.7 39.3 42.3 47.4 47.1 41.6 38.0 32.4 25.9 Nonfarm 649.7 705.7 752.2 757.8 782.1 874.3 925.7 998.6 1,012.2 1,037.9 903.0 909.8 923.3 966.7 987.5 1,008.4 999.6 998.7 997.9 1,007.9 1,016.4 1,026.7 1,030.1 1,039.0 1,048.2 1,034.6 Corporate profits with inventory valuation and capital consumption adjustments Rental income of persons with capital consumption adjustment Capital consumption adjustment Net interest and miscellaneous payments Taxes on production and imports 74.5 58.6 48.1 120.1 98.7 69.7 ¥134.8 ¥165.7 ¥192.7 ¥72.1 ¥117.2 ¥121.7 ¥154.5 ¥146.0 ¥144.5 ¥160.0 ¥173.4 ¥184.8 ¥176.9 ¥187.0 ¥197.8 ¥209.2 ¥48.0 ¥62.7 ¥88.0 ¥89.9 495.4 559.0 566.3 520.9 524.7 491.2 569.1 631.2 664.4 677.3 537.0 554.8 583.9 600.8 615.5 629.7 630.1 649.3 645.8 660.8 663.0 688.1 662.3 683.4 656.6 706.8 674.0 708.9 728.6 762.8 807.2 863.8 928.2 976.2 1,015.5 1,036.7 904.5 924.0 937.4 946.8 962.7 973.6 980.1 988.3 1,002.7 1,012.3 1,019.2 1,027.7 1,025.8 1,039.4 1,044.1 1,037.7 Profits with inventory valuation adjustment and without capital consumption adjustment Total 147.3 150.3 167.4 152.9 133.0 118.4 40.9 44.3 40.0 63.9 90.1 72.2 ¥56.9 58.0 52.8 45.6 40.4 38.2 35.1 44.6 41.8 38.6 39.1 58.6 68.5 89.6 851.3 817.9 767.3 886.3 993.1 1,231.2 1,447.9 1,668.5 1,642.4 ............ 1,438.2 1,472.4 1,342.6 1,538.6 1,634.2 1,681.6 1,713.8 1,644.5 1,617.8 1,672.5 1,668.3 1,611.1 1,593.5 1,533.3 1,514.8 ............ Total Profits before tax Inventory valuation adjustment 776.8 759.3 719.2 766.2 894.5 1,161.6 1,582.8 1,834.2 1,835.1 ............ 1,555.3 1,594.0 1,497.1 1,684.6 1,778.7 1,841.6 1,887.2 1,829.3 1,794.7 1,859.5 1,866.1 1,820.2 1,641.5 1,596.0 1,602.8 ............ 775.9 773.4 707.9 768.4 908.1 1,204.7 1,620.6 1,873.7 1,886.3 ............ 1,600.7 1,612.0 1,536.3 1,733.3 1,813.8 1,900.1 1,929.9 1,851.1 1,838.9 1,914.8 1,897.1 1,894.3 1,750.9 1,750.0 1,693.7 ............ 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥37.8 ¥39.5 ¥51.2 .............. ¥45.4 ¥18.0 ¥39.1 ¥48.7 ¥35.0 ¥58.5 ¥42.7 ¥21.8 ¥44.2 ¥55.3 ¥31.0 ¥74.1 ¥109.4 ¥154.0 ¥90.9 .............. inventory valuation and capital consumption adjustments. Less: Subsidies Business current transfer payments Current surplus of government enterprises 44.2 44.3 55.3 38.4 47.9 44.6 59.3 49.7 52.3 50.8 54.5 58.6 60.7 63.3 54.2 49.8 48.2 46.8 47.5 55.9 53.5 52.3 50.6 50.8 50.3 51.3 67.4 87.1 92.8 84.3 83.8 83.0 70.0 85.4 100.2 103.4 97.4 97.9 8.5 76.1 85.1 83.5 86.0 86.8 98.3 97.4 102.2 103.1 103.2 102.1 92.1 116.2 10.1 5.3 ¥1.4 .9 1.7 ¥4.2 ¥13.4 ¥8.6 ¥7.9 ¥8.1 ¥7.1 ¥9.3 ¥25.8 ¥11.4 ¥7.8 ¥8.3 ¥9.1 ¥9.2 ¥10.8 ¥8.5 ¥5.5 ¥6.7 ¥7.1 ¥7.7 ¥8.0 ¥9.5 Source: Department of Commerce, Bureau of Economic Analysis REAL PERSONAL CONSUMPTION EXPENDITURES [Billions of chained (2000) dollars, except as noted; quarterly data at seasonally adjusted annual rates] Durable goods Total personal consumption expenditures Period sroberts on PROD1PC70 with ECOIND 1999 ............... 2000 ............... 2001 ............... 2002 ............... 2003 ............... 2004 ............... 2005 ............... 2006 ............... 2007 ............... 2008 p .............. 2005: I .......... II ......... III ....... IV ........ 2006: I .......... II ......... III ....... IV ........ 2007: I .......... II ......... III ....... IV ........ 2008: I .......... II ......... III ....... IV p ...... 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,791.7 8,029.0 8,252.8 8,276.2 7,697.5 7,766.4 7,838.1 7,864.9 7,947.4 8,002.1 8,046.3 8,119.9 8,197.2 8,237.3 8,278.5 8,298.2 8,316.1 8,341.3 8,260.6 8,186.9 Total durable goods 804.6 863.3 900.7 964.8 1,020.6 1,084.8 1,134.4 1,185.1 1,242.4 1,188.3 1,111.6 1,143.7 1,158.9 1,123.3 1,173.1 1,178.3 1,188.4 1,200.7 1,227.3 1,242.3 1,249.4 1,250.6 1,237.0 1,228.3 1,180.1 1,107.7 Motor vehicles and parts 372.4 386.5 405.8 429.0 442.1 450.8 449.9 437.9 446.7 387.1 447.9 464.3 469.0 418.1 435.4 437.3 439.4 439.6 449.5 451.3 443.5 442.6 430.2 407.2 376.9 334.1 Furniture and household equipment 280.7 312.9 331.8 364.3 397.8 445.1 490.9 550.2 594.0 614.1 470.7 482.0 497.0 514.0 537.9 544.6 553.8 564.5 580.3 588.3 600.8 606.6 609.3 629.6 616.2 601.5 Nondurable goods Other 151.7 163.9 163.2 172.4 183.2 195.1 205.1 218.0 228.3 226.5 202.0 206.1 203.5 209.0 218.7 216.6 216.7 219.8 222.0 227.7 232.9 230.8 229.4 230.8 228.1 217.9 Total nondurable goods 1,876.6 1,947.2 1,986.7 2,037.1 2,103.0 2,177.6 2,252.7 2,335.3 2,392.6 2,381.9 2,220.7 2,243.7 2,260.1 2,286.3 2,310.8 2,328.7 2,342.0 2,359.8 2,380.1 2,391.5 2,398.6 2,400.2 2,397.9 2,420.7 2,376.3 2,332.8 893.6 925.2 940.2 954.6 977.7 1,009.4 1,047.7 1,090.1 1,110.5 1,110.0 1,033.0 1,040.9 1,053.3 1,063.7 1,077.8 1,090.3 1,093.3 1,099.1 1,102.5 1,110.1 1,110.9 1,118.7 1,122.4 1,133.6 1,112.3 1,071.7 1 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Gasoline and oil Clothing and shoes Food 282.7 297.7 303.7 318.3 334.2 350.7 372.3 394.4 412.9 414.4 362.4 371.5 371.6 383.7 390.2 391.0 396.1 400.4 409.4 412.2 416.6 413.2 416.3 427.2 412.2 401.8 176.3 175.7 178.3 181.9 183.2 186.7 187.4 184.2 184.5 179.2 184.8 187.7 188.6 188.6 186.3 183.2 183.6 183.8 185.1 184.3 184.7 183.8 181.4 179.1 173.3 183.0 Services Fuel oil and coal 16.4 15.8 15.2 15.5 15.4 14.6 13.2 12.4 13.7 12.0 14.1 13.3 13.0 12.3 11.5 12.6 12.7 13.0 14.3 13.8 13.3 13.4 12.8 11.9 11.1 12.1 Other 508.6 532.9 549.2 567.1 593.2 618.0 637.3 666.1 687.3 689.3 630.2 635.1 638.2 645.4 655.3 663.3 669.0 677.0 683.5 687.1 690.5 687.9 684.8 695.1 695.5 681.8 Total services 1 3,758.0 3,928.8 4,023.2 4,100.4 4,178.8 4,311.0 4,420.9 4,529.9 4,646.2 4,714.8 4,379.3 4,398.2 4,439.4 4,466.9 4,484.7 4,515.7 4,537.6 4,581.5 4,616.1 4,632.7 4,659.8 4,676.1 4,704.3 4,712.1 4,711.3 4,731.6 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00004 Fmt 3401 978.6 1,006.5 1,033.7 1,042.1 1,051.9 1,083.8 1,118.4 1,154.6 1,171.7 1,182.3 1,103.6 1,113.2 1,123.7 1,133.1 1,143.2 1,151.7 1,158.8 1,164.7 1,168.0 1,170.4 1,172.5 1,175.9 1,177.3 1,182.3 1,184.5 1,185.0 Source: Department of Commerce, Bureau of Economic Analysis. 4 VerDate Nov 24 2008 Housing Sfmt 3401 E:\HR\OC\ECOIND.004 ECOIND Medical care 989.0 1,026.8 1,075.2 1,136.6 1,180.8 1,216.5 1,257.3 1,290.2 1,327.8 1,374.0 1,241.2 1,250.9 1,263.4 1,273.8 1,283.7 1,287.9 1,289.8 1,299.2 1,316.0 1,319.4 1,331.4 1,344.5 1,360.8 1,370.3 1,378.9 1,386.2 Retail sales of new passenger cars and light trucks (millions of units) 16.9 17.3 17.1 16.8 16.6 16.9 16.9 16.5 16.1 13.2 16.6 17.4 18.0 15.9 16.8 16.4 16.5 16.3 16.3 16.1 15.9 16.0 15.2 14.1 12.9 10.3 SOURCES OF PERSONAL INCOME Personal income fell $25.3 billion (annual rate) in December following a decrease of $44.0 billion in November. Wages and salaries fell $21.4 billion in December following a decrease of $10.3 billion in November. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received Period 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 ................. 2008 p ................ 2007: Dec ........ 2008: Jan ........ Feb ........ Mar ....... Apr ........ May ....... June ...... July ....... Aug ....... Sept ....... Oct r ....... Nov r ...... Dec p ...... 1 With 2 With Total personal income Total 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,727.2 10,269.8 10,993.9 11,663.2 12,099.0 11,924.0 11,930.0 11,952.4 11,999.0 12,003.1 12,219.8 12,233.6 12,136.0 12,168.8 12,173.2 12,161.9 12,117.9 12,092.6 5,352.0 5,782.7 5,942.1 6,091.2 6,310.4 6,671.4 7,025.8 7,432.6 7,818.6 8,047.6 7,973.9 7,984.6 8,005.2 8,039.4 8,018.1 8,033.1 8,049.3 8,067.8 8,091.7 8,081.5 8,080.5 8,070.7 8,049.5 Wage and salary disbursements 4,466.3 4,829.2 4,942.8 4,980.9 5,112.7 5,394.5 5,671.7 6,027.2 6,362.0 6,543.2 6,493.1 6,495.4 6,513.0 6,545.7 6,519.1 6,530.9 6,543.8 6,559.3 6,580.6 6,570.4 6,567.3 6,557.0 6,535.6 Supplements to wages and salaries 885.7 953.4 999.3 1,110.3 1,197.7 1,276.9 1,354.1 1,405.3 1,456.6 1,504.4 1,480.8 1,489.3 1,492.3 1,493.7 1,498.9 1,502.1 1,505.5 1,508.5 1,511.1 1,511.2 1,513.2 1,513.7 1,513.9 Proprietors’ income 1 Farm 28.6 22.7 19.7 10.6 29.2 37.3 34.1 16.2 44.0 34.5 47.3 41.7 42.1 41.0 39.4 38.4 36.1 35.0 32.5 29.6 27.1 25.8 24.9 Nonfarm Personal income receipts on assets Rental income of persons 2 649.7 705.7 752.2 757.8 782.1 874.3 925.7 998.6 1,012.2 1,037.9 1,027.0 1,032.8 1,027.0 1,030.4 1,031.9 1,037.7 1,047.4 1,055.0 1,047.3 1,042.2 1,047.4 1,031.1 1,025.2 inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. 147.3 150.3 167.4 152.9 133.0 118.4 40.9 44.3 40.0 63.9 37.2 38.1 38.8 40.5 49.1 58.3 68.3 72.8 77.3 55.5 86.3 89.1 93.4 Total 1,264.2 1,387.0 1,380.0 1,333.2 1,336.6 1,432.1 1,596.9 1,824.8 2,000.1 2,040.4 2,059.4 2,056.4 2,054.2 2,051.7 2,051.8 2,052.3 2,052.8 2,054.1 2,055.6 2,057.3 2,028.5 1,999.7 1,970.7 Personal interest income Personal dividend income 928.6 1,011.0 1,011.0 936.1 914.1 895.1 1,022.0 1,125.4 1,214.3 1,206.3 1,239.4 1,232.0 1,224.6 1,217.2 1,213.0 1,208.7 1,204.5 1,210.9 1,217.4 1,223.8 1,199.2 1,174.5 1,149.9 335.6 376.1 369.0 397.2 422.6 537.0 574.9 699.4 785.8 834.1 820.0 824.4 829.6 834.5 838.8 843.6 848.3 843.2 838.2 833.4 829.4 825.2 820.8 Personal current transfer receipts 3 1,022.1 1,084.0 1,193.9 1,286.2 1,351.0 1,422.5 1,520.7 1,603.0 1,713.3 1,869.8 1,757.3 1,766.3 1,776.6 1,791.3 1,807.5 1,995.3 1,976.0 1,849.0 1,864.3 1,904.8 1,889.2 1,896.7 1,921.1 Less: Contributions for government social insurance 661.4 702.7 731.1 750.0 778.6 828.8 874.3 925.5 965.1 995.2 978.1 989.8 991.5 995.3 994.5 995.4 996.3 997.7 999.8 997.8 997.1 995.2 992.1 Source: Department of Commerce, Bureau of Economic Analysis. 5 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00005 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.005 ECOIND g:\graphics\eecoind.005 sroberts on PROD1PC70 with ECOIND 3 Consists DISPOSITION OF PERSONAL INCOME According to advance estimates, per capita disposable personal income in chained (2000) dollars rose at an annual rate of 2.3 percent in the fourth quarter of 2008. Personal income Period Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays 1 Disposable personal income in billions of chained (2000) dollars Equals: Personal saving Per capita disposable personal income Current dollars Billions of dollars 1999 ............ 2000 r .......... 2001 r .......... 2002 r .......... 2003 r .......... 2004 r .......... 2005 r .......... 2006 r .......... 2007 r .......... 2008 p .......... 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,727.2 10,269.8 10,993.9 11,663.2 12,099.0 Chained (2000) dollars Per capita personal consumption expenditures Current dollars Chained (2000) dollars Dollars 1,107.5 6,695.0 6,536.4 1,235.7 7,194.0 7,025.6 1,237.3 7,486.8 7,354.5 1,051.8 7,830.1 7,645.3 1,001.1 8,162.5 7,987.7 1,046.3 8,680.9 8,499.2 1,207.8 9,062.0 9,029.5 1,353.2 9,640.7 9,570.0 1,492.8 10,170.5 10,113.1 1,462.0 10,637.0 10,454.6 158.6 168.5 132.3 184.7 174.9 181.7 32.5 70.7 57.4 182.4 6,861.3 7,194.0 7,333.3 7,562.2 7,729.9 8,008.9 8,121.4 8,407.0 8,644.0 8,752.3 23,968 25,473 26,243 27,183 28,076 29,592 30,611 32,263 33,706 34,929 Percent change in real per capita disposable personal income Saving as percent of disposable personal income Population, including Armed Forces overseas (thousands) 2 Percent 24,564 25,473 25,704 26,253 26,588 27,302 27,434 28,134 28,648 28,740 22,491 23,864 24,729 25,518 26,498 27,939 29,368 30,812 32,181 33,030 23,050 23,864 24,222 24,646 25,093 25,776 26,320 26,869 27,351 27,177 1.8 3.7 .9 2.1 1.3 2.7 .5 2.6 1.8 .3 2.4 2.3 1.8 2.4 2.1 2.1 .4 .7 .6 1.7 279,328 282,413 285,294 288,055 290,729 293,348 296,036 298,820 301,737 304,530 27,321 27,432 27,276 27,706 27,991 28,018 28,101 28,424 28,664 28,555 28,702 28,670 28,560 29,234 28,501 28,664 28,747 29,126 29,662 29,934 30,316 30,704 31,031 31,194 31,681 32,049 32,325 32,664 32,957 33,335 33,337 32,492 26,092 26,270 26,446 26,472 26,692 26,817 26,895 27,070 27,265 27,336 27,403 27,399 27,401 27,427 27,095 26,788 ¥5.5 1.6 ¥2.3 6.5 4.2 .4 1.2 4.7 3.4 ¥1.5 2.1 ¥.4 ¥1.5 9.8 ¥9.7 2.3 .8 .5 ¥.7 .8 1.0 .6 .5 .9 1.1 .3 .5 .4 .2 2.5 1.2 2.9 295,020 295,639 296,378 297,109 297,743 298,399 299,175 299,965 300,644 301,332 302,108 302,865 303,498 304,128 304,872 305,620 2005: I r ..... II r .... III r .. IV r ... 2006: I r ..... II r .... III r .. IV r ... 2007: I r ..... II r .... III r .. IV r ... 2008: I r ..... II r .... III r .. IV p ... 10,044.5 10,184.4 10,289.1 10,561.0 10,781.6 10,913.2 11,056.1 11,224.7 11,473.0 11,577.5 11,730.4 11,872.1 11,960.5 12,152.2 12,159.4 12,124.1 1,163.8 1,192.7 1,222.3 1,252.5 1,316.0 1,341.1 1,356.2 1,399.6 1,459.5 1,489.4 1,501.6 1,520.5 1,535.0 1,346.1 1,468.6 1,498.2 8,880.7 8,991.7 9,066.9 9,308.6 9,465.6 9,572.1 9,699.9 9,825.1 10,013.5 10,088.0 10,228.8 10,351.5 10,425.5 10,806.0 10,690.7 10,625.9 8,808.1 8,945.9 9,129.8 9,234.2 9,371.2 9,518.0 9,651.8 9,739.0 9,904.2 10,056.9 10,182.0 10,309.2 10,404.9 10,538.2 10,559.9 10,315.7 72.5 45.8 ¥62.9 74.4 94.4 54.2 48.1 86.1 109.3 31.1 46.8 42.4 20.6 267.9 130.8 310.3 8,060.4 8,110.0 8,084.0 8,231.8 8,334.2 8,360.4 8,407.1 8,526.2 8,617.7 8,604.5 8,671.1 8,683.1 8,667.9 8,891.0 8,689.1 8,760.4 1 Includes personal consumption expenditures, personal interest payments (nonmortgage), and personal current transfer payments. 2 Annual data are averages of quarterly data, which are averages for the period. 30,102 30,414 30,592 31,331 31,791 32,078 32,422 32,754 33,307 33,478 33,858 34,179 34,351 35,531 35,066 34,768 Note.—Per capita series reflect revised population data beginning 2000. Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 sroberts on PROD1PC70 with ECOIND Seasonally adjusted annual rates FARM INCOME According to the current forecast for 2008, gross farm income is forecast at $379.4 billion, and net farm income at $86.9 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Income of farm operators from farming Gross farm income Cash marketing receipts Total 1 Total sroberts on PROD1PC70 with ECOIND 1999 ................................ 2000 ................................ 2001 ................................ 2002 ................................ 2003 ................................ 2004 ................................ 2005 ................................ 2006 ................................ 2007 ................................ 2008 ................................ 2006: I .......................... II ......................... III ........................ IV ........................ 2007: I .......................... II ......................... III ........................ IV ........................ 2008: I .......................... II ......................... III ........................ IV ........................ 234.9 243.6 251.8 232.6 260.0 295.6 301.1 292.4 341.1 379.4 297.7 286.4 285.7 299.8 336.5 335.1 337.1 355.8 420.0 370.2 381.8 345.7 Livestock and products 187.8 192.0 200.0 194.9 215.6 237.2 240.9 240.8 284.8 323.4 232.1 244.3 242.9 244.1 270.8 286.1 287.3 295.1 348.5 322.2 331.9 291.1 95.7 99.6 106.7 94.0 105.6 123.6 124.9 118.2 137.9 143.5 117.6 118.6 118.3 118.3 138.8 139.2 138.0 135.6 149.6 143.7 145.6 135.3 1 Cash marketing receipts, Government payments, value of changes in inventories, other farm related cash income, and nonmoney income produced by farms including imputed rent of operator residences. 2 Crop receipts include proceeds received from commodities placed under Commodity Credit Corporation loans. 3 Physical changes in beginning and ending year inventories of crop and livestock commodities valued at weighted average market prices during the period. Value of inventory changes 3 Crops 2 92.1 92.4 93.3 101.0 110.0 113.6 116.0 122.6 147.0 179.9 114.5 125.7 124.5 125.7 132.0 147.0 149.2 159.6 198.9 178.5 186.3 155.9 Direct Government payments 4 ¥0.2 1.6 1.1 ¥3.4 ¥2.4 11.2 .5 ¥3.0 3.7 .5 ¥2.9 ¥3.1 ¥3.1 ¥3.1 3.6 3.8 3.8 3.9 .6 .5 .5 .5 Production expenses 21.5 23.2 22.4 12.4 16.5 13.0 24.4 15.8 11.9 12.5 31.1 5.8 6.7 19.5 23.5 4.4 5.1 14.7 24.6 4.6 5.3 15.4 187.2 193.1 196.9 193.1 199.6 209.8 221.8 233.9 254.4 292.5 225.4 237.2 235.8 237.0 241.9 255.5 256.5 263.6 315.2 291.4 300.2 263.3 Net farm income 47.7 50.6 54.9 39.6 60.5 85.8 79.3 58.5 86.8 86.9 72.3 49.2 49.8 62.8 94.6 79.6 80.6 92.3 104.8 78.7 81.6 82.4 4 Includes only Government payments made directly to farmers. NOTE.—Data for 2008 are forecasts. Source: Department of Agriculture. 7 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00007 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.007 ECOIND g:\graphics\eecoind.007 Period CORPORATE PROFITS In the third quarter of 2008, according to current estimates, corporate profits before tax fell $56.3 billion (annual rate) and profits after tax fell $43.1 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Profits (before tax) with inventory valuation adjustment 1 Profits after tax Period Nonfinancial Total 2 Total sroberts on PROD1PC70 with ECOIND 1998 .............................. 738.5 Profits before tax 635.5 Financial Total 3 165.9 469.6 Manufacturing Utilities Wholesale 173.5 ................ 52.3 Retail 73.4 718.3 Taxes on corporate income Total 248.3 470.0 1998 4 ............................ 738.5 635.5 165.4 470.1 157.0 32.7 53.2 66.4 718.3 248.3 470.0 1999 .............................. 776.8 655.3 194.3 461.1 150.6 33.1 55.5 65.2 775.9 258.6 517.2 2000 .............................. 759.3 613.6 200.2 413.4 144.3 24.4 59.7 59.6 773.4 265.2 508.2 2001 .............................. 719.2 549.5 227.6 322.0 52.6 24.7 52.1 71.0 707.9 204.1 503.8 2002 .............................. 766.2 610.4 276.4 334.0 48.2 10.6 49.3 79.4 768.4 192.6 575.8 2003 .............................. 894.5 729.0 317.3 411.8 76.0 11.6 55.2 86.8 908.1 243.3 664.8 2004 .............................. 1,161.6 968.2 348.9 619.3 152.7 18.6 79.2 91.1 1,204.7 307.4 897.3 2005 ............................... 1,582.8 1,343.3 425.3 918.1 243.8 28.9 97.3 120.4 1,620.6 413.7 1,206.9 2006 ............................... 1,834.2 1,566.7 478.8 1,087.9 304.3 55.6 107.5 132.3 1,873.7 468.9 1,404.8 2007 ............................... 1,835.1 1,490.5 449.9 1,040.6 316.6 58.5 102.6 132.3 1,886.3 450.4 1,435.9 2008 p ............................ .............. .............. ............ ............ ................ ................ .............. .............. ............ ............ .............. 2005: I .......................... 1,555.3 1,321.2 470.0 851.1 242.7 27.1 90.4 102.3 1,600.7 407.2 1,193.5 II ........................ 1,594.0 1,360.8 437.3 923.4 239.3 28.4 109.5 126.7 1,612.0 412.0 1,200.1 III ....................... 1,497.1 1,244.2 362.3 881.9 241.6 21.7 85.5 114.8 1,536.3 386.4 1,149.9 IV ....................... 1,684.6 1,447.2 431.4 1,015.8 251.6 38.2 103.8 137.8 1,733.3 449.2 1,284.1 2006: I .......................... 1,778.7 1,528.3 470.0 1,058.3 279.2 44.9 102.3 133.5 1,813.8 453.8 1,359.9 II ........................ 1,841.6 1,571.9 493.1 1,078.8 305.8 53.5 94.5 126.0 1,900.1 474.8 1,425.2 III ....................... 1,887.2 1,626.7 473.3 1,153.4 333.5 62.5 128.3 132.1 1,929.9 487.2 1,442.6 IV ....................... 1,829.3 1,540.0 478.8 1,061.2 298.9 61.4 104.9 137.5 1,851.1 459.8 1,391.4 2007: I .......................... 1,794.7 1,496.6 454.1 1,042.5 317.0 57.2 108.2 132.8 1,838.9 448.5 1,390.4 II ........................ 1,859.5 1,556.7 492.7 1,064.0 350.8 54.7 112.7 145.9 1,914.8 468.5 1,446.3 III ....................... 1,866.1 1,509.7 460.3 1,049.3 306.6 58.7 109.1 126.0 1,897.1 451.1 1,446.1 IV ....................... 1,820.2 1,398.9 392.4 1,006.5 292.1 63.2 80.2 124.5 1,894.3 433.5 1,460.9 2008: I .......................... 1,641.5 1,243.1 412.8 830.2 240.5 46.2 49.2 112.0 1,750.9 402.9 1,348.0 II ....................... 1,596.0 1,222.5 383.2 839.3 214.9 56.7 59.4 92.7 1,750.0 406.8 1,343.2 III ...................... 1,602.8 1,224.4 308.8 915.6 272.6 59.1 92.1 86.2 1,693.7 393.5 1,300.1 p IV ..................... .............. .............. ............ ............ ................ ................ .............. .............. ............ ............ .............. 1 See p. 4 for profits with inventory valuation and capital consumption adjustments. rest of the world, not shown separately. 3 Includes industries not shown separately. 2 Includes 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00008 Fmt 3401 351.6 118.3 20.2 351.6 118.3 20.2 337.4 179.9 1.0 377.9 130.3 ¥14.1 370.9 132.9 11.3 399.2 176.6 ¥2.2 424.7 240.1 ¥13.6 539.5 357.8 ¥43.1 577.4 629.5 ¥37.8 702.1 702.7 ¥39.5 788.7 647.3 ¥51.2 837.2 .............. .............. 553.0 640.6 ¥45.4 561.6 638.5 ¥18.0 581.4 568.4 ¥39.1 613.4 670.6 ¥48.7 652.8 707.1 ¥35.0 688.8 736.4 ¥58.5 720.9 721.7 ¥42.7 745.8 645.6 ¥21.8 761.5 629.0 ¥44.2 779.2 667.1 ¥55.3 797.6 648.5 ¥31.0 816.4 644.5 ¥74.1 832.5 515.5 ¥109.4 846.4 496.7 ¥154.0 841.1 459.1 ¥90.9 828.7 .............. .............. 4 Data by industry beginning 1998 are based on the 1997 North American Industry Classification System (NAICS) and are not directly comparable with data for prior years shown, which are based on the 1987 Standard Industrial Classification (SIC). Source: Department of Commerce, Bureau of Economic Analysis. 8 VerDate Nov 24 2008 Net dividends Inventory Undisvalutributed ation adprofits justment Sfmt 3401 E:\HR\OC\ECOIND.008 ECOIND g:\graphics\eecoind.008 Domestic industries REAL GROSS PRIVATE DOMESTIC INVESTMENT In the fourth quarter of 2008, according to advance estimates, nonresidential fixed investment in chained (2000) dollars fell $73.5 billion (annual rate) and residential investment fell $23.0 billion. There was an increase of $6.2 billion in inventories following a decrease of $29.6 billion in the third quarter. [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment sroberts on PROD1PC70 with ECOIND Period Change in private inventories Nonresidential Total Total Equipment and software Residential Structures Total Nonfarm 1999 ................................................................................. 2000 ................................................................................. 2001 ................................................................................. 2002 ................................................................................. 2003 ................................................................................. 2004 ................................................................................. 2005 ................................................................................. 2006 ................................................................................. 2007 .................................................................................. 2008 p ................................................................................ 1,642.6 1,735.5 1,598.4 1,557.1 1,613.1 1,770.2 1,873.5 1,912.5 1,809.7 1,702.2 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,829.8 1,865.5 1,808.5 1,721.2 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,408.2 293.2 313.2 306.1 253.8 243.5 246.7 249.8 270.3 304.6 340.5 840.2 918.9 874.2 820.2 843.1 905.1 989.6 1,061.0 1,078.9 1,047.2 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 359.2 68.9 56.5 ¥31.7 12.5 14.3 54.3 38.9 42.3 ¥2.5 ¥21.0 71.5 57.8 ¥31.8 15.2 14.0 48.2 39.1 46.3 ¥3.7 ¥25.6 2005: I ............................................................................. II ........................................................................... III .......................................................................... IV .......................................................................... 1,869.1 1,844.8 1,862.8 1,917.3 1,790.5 1,823.5 1,847.2 1,858.0 1,200.4 1,219.0 1,237.1 1,248.2 253.1 252.3 246.2 247.4 956.6 977.9 1,006.5 1,017.4 582.1 595.8 601.7 602.0 74.6 16.7 11.0 53.5 79.5 17.4 6.2 53.2 2006: I ............................................................................. II ........................................................................... III ......................................................................... IV .......................................................................... 1,946.3 1,944.3 1,917.8 1,841.6 1,895.2 1,883.1 1,860.0 1,823.7 1,295.2 1,315.4 1,332.7 1,329.3 256.5 268.3 277.4 279.1 1,056.6 1,061.2 1,066.4 1,059.9 596.5 570.1 536.7 508.4 45.9 56.9 53.3 13.1 45.4 63.3 59.9 16.4 2007: I ............................................................................. II ........................................................................... III .......................................................................... IV .......................................................................... 2008: I ............................................................................. II ........................................................................... III ......................................................................... IV p ........................................................................ 1,795.9 1,822.9 1,838.7 1,781.3 1,754.7 1,702.0 1,703.7 1,648.5 1,807.8 1,821.3 1,817.0 1,788.2 1,762.4 1,754.9 1,731.1 1,636.4 1,340.4 1,373.8 1,402.9 1,414.7 1,423.1 1,431.8 1,425.7 1,352.2 286.6 298.9 313.2 319.7 326.4 340.5 348.4 346.9 1,060.0 1,077.9 1,087.5 1,090.1 1,088.6 1,074.7 1,054.0 971.5 486.4 471.7 445.3 411.6 383.0 369.6 353.7 330.7 ¥15.0 ¥2.8 16.0 ¥8.1 ¥10.2 ¥50.6 ¥29.6 6.2 ¥10.7 ¥2.6 19.2 ¥20.6 ¥17.9 ¥55.1 ¥33.3 4.0 NOTE.—See p. 10 for further detail on fixed investment by type. Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Source: Department of Commerce, Bureau of Economic Analysis. 9 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00009 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.009 ECOIND g:\graphics\eecoind.009 Gross private domestic investment REAL PRIVATE FIXED INVESTMENT BY TYPE [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Nonresidential Residential Equipment and software Period Structures Information processing equipment and software Total fixed investment Total nonresidential Structures Total Computers and peripheral equipment 1 Software Total Transportation equipment Other equipment Total residential Total 2 Single family Other Industrial equipment Equipment 1999 ........................... 2000 ........................... 2001 ........................... 2002 ........................... 2003 ........................... 2004 ........................... 2005 ........................... 2006 ........................... 2007 ........................... 2008 p .......................... 2005: I ...................... II ..................... III ................... IV .................... 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,829.8 1,865.5 1,808.5 1,721.2 1,790.5 1,823.5 1,847.2 1,858.0 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,408.2 1,200.4 1,219.0 1,237.1 1,248.2 293.2 313.2 306.1 253.8 243.5 246.7 249.8 270.3 304.6 340.5 253.1 252.3 246.2 247.4 840.2 918.9 874.2 820.2 843.1 905.1 989.6 1,061.0 1,078.9 1,047.2 956.6 977.9 1,006.5 1,017.4 398.5 467.6 459.0 437.4 462.7 505.7 546.7 596.6 653.9 687.0 529.5 540.3 552.7 564.3 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 157.2 176.2 173.8 169.7 177.3 193.6 207.0 215.5 237.0 249.2 201.5 206.8 208.2 211.4 158.0 190.0 181.7 161.1 167.1 181.1 191.6 206.7 218.0 226.3 187.9 188.4 195.3 194.9 147.9 159.2 145.7 134.5 138.4 134.0 145.3 153.5 155.7 149.0 142.0 140.9 146.3 152.0 167.7 160.8 142.8 126.0 113.8 130.6 149.5 159.5 139.4 98.7 142.1 148.5 157.2 150.3 126.7 131.2 126.9 122.9 130.4 138.3 150.4 156.5 148.4 146.2 145.6 150.5 151.7 153.7 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 359.2 582.1 595.8 601.7 602.0 436.6 439.5 441.1 462.2 501.2 551.2 586.0 543.5 444.9 351.1 572.9 586.4 592.3 592.4 234.2 236.8 237.1 246.3 272.6 305.3 325.9 294.9 214.1 135.7 318.8 323.5 327.6 333.7 7.0 7.4 7.4 7.7 8.1 9.0 9.3 9.6 9.5 9.1 9.1 9.3 9.2 9.5 2006: I ...................... II ..................... III ................... IV .................... 1,895.2 1,883.1 1,860.0 1,823.7 1,295.2 1,315.4 1,332.7 1,329.3 256.5 268.3 277.4 279.1 1,056.6 1,061.2 1,066.4 1,059.9 586.2 590.9 603.9 605.3 ............. ............. ............. ............. 212.5 213.2 215.8 220.5 207.6 205.1 209.4 204.8 149.9 157.2 153.8 153.2 165.3 157.9 159.7 155.2 158.2 158.7 155.2 153.8 596.5 570.1 536.7 508.4 586.8 560.6 527.4 499.3 333.1 308.7 282.7 255.2 9.7 9.7 9.6 9.4 2007: I ...................... II ..................... III ................... IV .................... 1,807.8 1,821.3 1,817.0 1,788.2 1,340.4 1,373.8 1,402.9 1,414.7 286.6 298.9 313.2 319.7 1,060.0 1,077.9 1,087.5 1,090.1 629.9 647.3 660.9 677.6 ............. ............. ............. ............. 227.9 235.7 239.4 245.1 212.5 216.2 219.6 223.5 150.3 160.3 159.1 153.1 149.0 139.4 137.4 131.9 145.3 147.5 149.2 151.5 486.4 471.7 445.3 411.6 477.3 462.8 436.5 403.0 235.6 227.3 210.3 182.9 9.5 9.5 9.5 9.4 2008: I ...................... II ..................... III ................... IV p .................. 1,762.4 1,754.9 1,731.1 1,636.4 1,423.1 1,431.8 1,425.7 1,352.2 326.4 340.5 348.4 346.9 1,088.6 1,074.7 1,054.0 971.5 689.6 702.9 695.5 660.1 ............. ............. ............. ............. 251.0 252.3 249.5 244.0 223.6 230.6 233.6 217.6 153.4 152.0 148.6 142.0 127.0 108.6 93.6 65.7 146.5 145.3 151.5 141.5 383.0 369.6 353.7 330.7 374.6 361.1 345.6 323.0 156.7 142.9 130.5 112.8 9.3 9.5 9.0 8.6 1 For details on this component, see Survey of Current Business, Tables 5.3.6, 5.3.1 for growth rates, 5.3.2 for contributions, and 5.3.3 for quantity indexes. 2 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Source: Department of Commerce, Bureau of Economic Analysis. BUSINESS INVESTMENT [Billions of dollars] Capital expenditures By industry Period Total capital expenditures Total by industry Forestry, fishing and agricultural services Mining Con- ManuUtili- strucfacties turtion ing ProFor Real fesscomTransesional, Health panies portaFiscien- care withWhole- Retail tion Infor- nance tate and tific, and out sale and maand rental and Other 1 emtrade social trade waretion insur- and assisployhousance leas- technical tance ees ing ing services sroberts on PROD1PC70 with ECOIND For companies with employees 1996 ........................ 1997 ........................ 1998 ........................ 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 2006 r ....................... 2007 ........................ 807.1 .............. ........... ............ ......... .......... ........... ............ .......... ............ .......... .......... .......... .......... ........... ........... .......... 871.8 .............. ........... ............ ......... .......... ........... ............ .......... ............ .......... .......... .......... .......... ........... ........... .......... 970.9 896.5 0.9 40.4 36.0 26.9 203.6 29.2 57.3 51.3 96.5 118.2 85.2 22.3 47.1 81.7 74.4 1,047.0 974.6 1.7 30.6 42.8 23.1 196.4 32.4 64.1 57.3 122.8 130.1 100.6 29.5 51.3 91.8 72.3 1,161.0 1,089.9 1.5 42.5 61.3 25.0 214.8 33.6 69.8 59.9 160.2 133.7 92.5 34.1 52.2 108.9 71.2 1,109.0 1,052.3 1.5 51.3 82.8 24.8 192.8 30.0 66.9 57.8 144.8 131.1 82.7 30.5 52.9 102.5 56.7 997.9 917.5 1.9 42.5 65.5 24.8 157.2 26.8 59.3 47.1 88.2 128.4 94.5 25.9 59.3 96.1 80.4 975.0 886.8 1.9 50.5 54.6 23.2 149.1 26.0 65.9 44.5 80.5 120.8 88.0 24.7 61.2 96.2 88.2 1,042.1 953.2 2.1 51.3 50.4 28.6 156.7 32.3 72.2 46.1 83.5 153.6 91.6 26.7 64.6 93.6 88.9 1,144.8 1,062.5 2.7 66.7 58.0 30.1 165.6 40.6 73.5 56.9 91.4 161.4 103.0 33.1 73.8 105.6 82.2 1,309.9 1,217.1 2.7 99.3 69.8 30.3 192.4 36.6 86.7 68.0 104.4 163.1 132.1 30.3 75.3 126.3 92.8 1,361.6 1,277.4 2.1 121.7 83.6 36.7 197.0 31.8 84.2 68.5 105.3 172.5 123.0 31.8 83.8 135.3 84.2 1 Includes the following industries: Management of companies and enterprises; administrative and support and waste management; educational services; arts, entertainment, and recreation; accommodation and food services; and other services (except public administration). Also includes an item for structure and equipment expenditures serving multiple industry categories. NOTE.—Data from Annual Capital Expenditures. Industry data are based on the North American Industry Classification System (NAICS). Data shown in this table are capital expenditures for both new and used structures and equipment. Source: Department of Commerce, Bureau of the Census. 10 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In January, employment was 142.1 million and unemployment was 11.6 million. [Thousands of persons 16 years of age and over, except as noted; monthly data seasonally adjusted except as noted by NSA] Civilian employment 1999 2 .................... 2000 2 .................... 2001 ..................... 2002 ...................... 2003 2 .................... 2004 2 .................... 2005 2 .................... 2006 2 .................... 2007 2 .................... 2008 2 .................... 2008: Jan 2 .......... Feb ............ Mar ........... Apr ............ May ........... June .......... July ........... Aug ........... Sept ........... Oct ............ Nov ............ Dec ............ 2009: Jan 2 .......... Civilian noninstitutional population (NSA) Civilian labor force 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 231,867 233,788 232,616 232,809 232,995 233,198 233,405 233,627 233,864 234,107 234,360 234,612 234,828 235,035 234,739 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 153,124 154,287 153,873 153,498 153,843 153,932 154,510 154,400 154,506 154,823 154,621 154,878 154,620 154,447 153,716 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years Total 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 146,047 145,362 146,317 146,075 146,023 146,257 145,974 145,738 145,596 145,273 145,029 144,657 144,144 143,338 142,099 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 75,337 74,750 75,474 75,395 75,216 75,147 74,992 74,949 75,973 74,737 74,503 74,292 74,045 73,285 72,613 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,799 65,039 65,101 64,993 65,079 65,196 65,114 65,169 65,103 65,003 65,008 64,975 64,902 64,860 64,298 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 5,911 5,573 5,742 5,688 5,729 5,914 5,868 5,620 5,520 5,533 5,518 5,390 5,196 5,194 5,188 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 8,924 7,555 7,423 7,820 7,675 8,536 8,662 8,910 9,550 9,592 10,221 10,476 11,108 11,616 1 Civilian labor force (or employment) as percent of civilian noninstitutional population; and unemployment as percent of civilian labor force. 2 Not strictly comparable with earlier data. NOTE.—Beginning January 2008 data reflect revised population controls and are not strictly comparable with earlier data. Men 20 years and over 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,259 4,297 3,433 3,412 3,650 3,673 3,921 4,106 4,313 4,572 4,889 5,088 5,290 5,714 5,972 Women 20 years and over Both sexes 16–19 years 2,285 2,235 2,599 3,228 3,314 3,150 3,013 2,751 2,718 3,342 2,881 2,886 3,095 2,923 3,252 3,252 3,170 3,662 3,377 3,725 3,851 4,031 4,286 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,101 1,285 1,241 1,125 1,075 1,079 1,363 1,304 1,427 1,316 1,326 1,408 1,335 1,363 1,359 Not in labor force Labor force participation rate Employment/ population ratio Unemployment rate 67.1 67.1 66.8 66.6 66.2 66.0 66.0 66.2 66.0 66.0 66.1 65.9 66.0 66.0 66.2 66.1 66.1 66.1 66.0 66.0 65.8 65.7 65.5 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.0 62.2 62.9 62.7 62.7 62.7 62.5 62.4 62.3 62.1 61.9 61.7 61.4 61.0 60.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 5.8 4.9 4.8 5.1 5.0 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2 7.6 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 78,743 79,501 78,744 79,311 79,152 79,267 78,895 79,227 79,358 79,284 79,739 79,734 80,208 80,588 81,023 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 sroberts on PROD1PC70 with ECOIND Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In January, the unemployment rate rose to 7.6 percent from 7.2 percent in December. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 sroberts on PROD1PC70 with ECOIND Period All civilian workers 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2007 ......................... 2008 ......................... 2008: Jan ............... Feb ............... Mar .............. Apr ............... May .............. June ............. July .............. Aug .............. Sept .............. Oct ............... Nov .............. Dec ............... 2009: Jan ............... Men 20 years and over Women 20 years and over 3.5 3.3 4.2 5.3 5.6 5.0 4.4 4.0 4.1 5.4 4.4 4.3 4.6 4.7 5.0 5.2 5.4 5.8 6.2 6.4 6.7 7.2 7.6 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.0 4.9 4.2 4.3 4.5 4.3 4.8 4.8 4.6 5.3 4.9 5.4 5.6 5.9 6.2 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 5.8 4.9 4.8 5.1 5.0 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2 7.6 Both sexes 16–19 years 13.9 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.7 18.7 17.8 16.5 15.8 15.4 18.9 18.8 20.5 19.2 19.4 20.7 20.4 20.8 20.8 White 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 5.2 4.4 4.4 4.5 4.4 4.9 5.0 5.2 5.5 5.5 6.0 6.2 6.6 6.9 1 Beginning in 2003, persons who selected this race group only. Prior to 2003, persons who reported more than one race were included in the group they identified as the main race. Persons whose ethnicity is identified as Hispanic or Latino may be of any race. By selected groups Black or African American Asian (NSA) Hispanic or Latino ethnicity 8.0 7.6 8.6 10.2 10.8 10.4 10.0 8.9 8.3 10.1 9.2 8.4 9.0 8.8 9.7 9.4 9.9 10.7 11.4 11.3 11.3 11.9 12.6 .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.2 4.0 3.2 3.0 3.6 3.2 3.8 4.5 4.0 4.4 3.8 3.8 4.8 5.1 6.2 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.6 7.6 6.4 6.3 7.0 7.0 7.0 7.7 7.5 8.1 7.9 8.8 8.6 9.2 9.7 Married men, spouse present 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 3.4 2.7 2.7 2.8 2.8 3.0 3.1 3.3 3.7 3.9 4.1 4.2 4.4 5.0 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00012 Fmt 3401 Full-time workers Part-time workers 6.4 5.9 6.6 8.0 8.5 8.0 7.8 7.1 6.5 8.0 7.0 6.7 7.1 6.8 6.9 7.9 8.5 9.6 8.2 8.8 9.3 9.5 10.3 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.6 5.8 4.8 4.8 5.0 5.0 5.5 5.6 5.8 6.3 6.3 6.8 7.0 7.5 8.0 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 4.9 5.5 5.4 5.0 5.3 5.0 5.5 5.4 5.6 5.7 5.9 5.7 5.8 5.9 5.9 NOTE.—Data relate to persons age 16 years and over. Source: Department of Labor, Bureau of Labor Statistics. 12 VerDate Nov 24 2008 Women who maintain families (NSA) Sfmt 3401 E:\HR\OC\ECOIND.012 ECOIND g:\graphics\eecoind.012 By sex and age SELECTED MEASURES OF UNEMPLOYMENT AND UNEMPLOYMENT INSURANCE PROGRAMS In January, the percentage of the unemployed who had been out of work for less than 5 weeks rose; the percentages for 5–14 weeks, for 15–26 weeks and for 27 weeks and over fell. The mean duration of unemployment rose to 19.8 weeks and the median duration fell to 10.3 weeks. [Monthly data seasonally adjusted, except as noted] Duration of unemployment Period Unemployment (thousands) Percent distribution Less than 5 weeks 5–14 weeks 15–26 weeks Reason for unemployment: percent distribution State programs Number of weeks 27 weeks and over Average (mean) Median Job losers 1 Job leavers Reentrants New entrants Insured unemployment Initial claims Insured unemployment, all regular programs (unadjusted) 2 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2007 ........................................ 2008 ........................................ 2008: Jan .............................. Feb .............................. Mar ............................. Apr .............................. May ............................. June ............................ July ............................. Aug .............................. Sept ............................. Oct .............................. Nov .............................. Dec .............................. 2009: Jan .............................. 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 8,924 7,555 7,423 7,820 7,675 8,536 8,662 8,910 9,550 9,592 10,221 10,476 11,108 11,616 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 35.9 32.8 35.3 35.6 35.9 32.5 38.1 31.4 32.4 33.9 29.8 30.3 31.4 29.2 31.0 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 31.5 31.4 31.7 32.3 32.7 32.9 29.0 34.6 32.0 30.1 32.1 29.7 30.3 30.4 29.8 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 15.0 16.0 14.8 14.7 14.7 16.6 14.5 15.4 16.3 16.4 16.9 17.9 17.0 17.2 16.8 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 17.6 19.7 18.1 17.3 16.7 17.9 18.4 18.6 19.3 19.6 21.2 22.1 21.3 23.2 22.4 1 Beginning January 1994, job losers and persons who completed temporary jobs. 2 Includes State (50 States, District of Columbia, Puerto Rico, and Virgin Islands), ex-servicemen (UCX), and Federal (UCFE). Also includes Federal and State extended benefit programs. Does not include Railroad (RR) program, Federal supplemental compensation or Emergency Unemployment Compensation programs. 13.4 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.8 17.9 17.5 16.6 16.1 17.0 16.8 17.6 17.3 17.6 18.7 19.8 18.9 19.7 19.8 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.5 9.4 8.7 8.4 8.2 9.3 8.3 10.1 9.8 9.3 10.3 10.6 10.0 10.6 10.3 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 49.7 53.7 50.7 52.2 53.5 52.7 50.5 51.7 51.3 52.6 54.9 56.8 58.6 58.4 61.1 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.2 10.0 11.1 10.5 10.2 11.2 10.3 9.8 9.8 10.5 10.1 9.2 8.9 9.1 8.0 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.3 27.7 29.2 28.3 27.3 28.0 29.5 29.7 29.8 28.2 26.6 25.9 25.3 25.1 24.1 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 8.9 8.6 9.0 8.9 8.9 8.1 9.7 8.8 9.1 8.7 8.4 8.1 7.2 7.5 6.8 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,571 2,888 2,718 2,776 2,910 3,012 3,096 3,126 3,233 3,429 3,581 3,787 4,134 4,476 .............. 298 301 404 407 404 345 328 313 324 360 337 346 374 365 369 389 406 440 475 478 526 542 p 572 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,609 2,921 3,270 3,256 3,553 3,037 2,667 3,108 3,006 3,179 3,160 2,978 3,819 4,778 ................. NOTE.—Data relate to persons age 16 years and over (except for insured unemployment and initial claims). Source: Department of Labor (Bureau of Labor Statistics and Employment and Training Administration). 13 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 sroberts on PROD1PC70 with ECOIND Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey fell by 598,000 in January. (Series revised.) [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries Period sroberts on PROD1PC70 with ECOIND 1999 .................. 2000 .................. 2001 .................. 2002 .................. 2003 .................. 2004 .................. 2005 .................. 2006 .................. 2007 r ................. 2008 r ................. 2008: Jan r ....... Feb r ....... Mar r ....... Apr r ....... May r ....... June r ...... July r ....... Aug r ....... Sept r ...... Oct r ........ Nov r ....... Dec r ....... 2009: Jan p ....... 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,086 137,598 137,068 138,080 137,936 137,814 137,654 137,517 137,356 137,228 137,053 136,732 136,352 135,755 135,178 134,580 Total 2 Construction 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,531 22,233 21,420 21,981 21,887 21,800 21,679 21,612 21,507 21,432 21,351 21,247 21,063 20,814 20,564 20,245 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,691 7,630 7,215 7,489 7,445 7,401 7,337 7,293 7,232 7,201 7,177 7,131 7,066 6,939 6,853 6,742 Manufacturing 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,155 13,879 13,431 13,744 13,692 13,643 13,586 13,556 13,505 13,454 13,387 13,322 13,203 13,082 12,920 12,713 Service-providing industries Trade, transportation, and utilities Total 104,528 107,136 107,952 107,784 108,183 109,553 111,513 113,556 115,366 115,648 116,099 116,049 116,014 115,975 115,905 115,849 115,796 115,702 115,485 115,289 114,941 114,614 114,335 Total 3 Retail trade 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,276 26,630 26,385 26,717 26,655 26,629 26,562 26,503 26,467 26,425 26,354 26,257 26,157 26,005 25,858 25,740 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,353 15,520 15,357 15,572 15,526 15,506 15,458 15,420 15,404 15,380 15,335 15,278 15,217 15,126 15,043 14,998 1 Data from the establishment survey. Includes all full- and part-time wage and salary workers in nonagricultural establishments who received pay for any part of the pay period that includes the 12th of the month. Excludes proprietors, self-employed persons, unpaid family workers, and private household workers. Data from the household survey shown on p. 11 include those workers and also count persons as employed when they are not at work because of industrial disputes, bad weather, etc., even if they are not paid for the time off. In the series shown here, persons who work at more than one job are counted each time they appear on a payroll, in contrast to the series shown on p. 11 where persons are counted only once—as employed, unemployed, or not in the labor force. See Employment and Earnings for details. 2 Includes 3 Includes Information 3,419 3,630 3,629 3,395 3,188 3,118 3,061 3,038 3,032 2,997 3,022 3,025 3,023 3,017 3,013 3,006 2,995 2,990 2,986 2,982 2,965 2,941 2,920 Financial activities 7,648 7,687 7,808 7,847 7,977 8,031 8,153 8,328 8,301 8,146 8,229 8,211 8,204 8,190 8,179 8,162 8,154 8,141 8,115 8,088 8,043 8,016 7,974 Profes- Educasional tion Leisure and and and busihealth hospiness tality services services 15,957 16,666 16,476 15,976 15,987 16,394 16,954 17,566 17,942 17,778 18,069 18,018 17,954 17,950 17,887 17,824 17,788 17,727 17,675 17,612 17,488 17,382 17,261 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,826 18,322 18,856 18,613 18,657 18,698 18,752 18,798 18,843 18,888 18,950 18,957 18,981 19,044 19,089 19,143 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00014 Fmt 3401 Government Total 5,087 5,168 5,258 5,372 5,401 5,409 5,395 5,438 5,494 5,528 5,524 5,533 5,537 5,541 5,542 5,535 5,536 5,530 5,532 5,535 5,509 5,482 5,473 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,974 22,218 22,500 22,391 22,421 22,441 22,451 22,488 22,522 22,537 22,556 22,535 22,539 22,543 22,533 22,539 Federal 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,732 2,734 2,764 2,737 2,746 2,751 2,758 2,763 2,765 2,776 2,768 2,771 2,775 2,783 2,777 2,792 natural resources and mining, not shown separately. wholesale trade, transportation and warehousing, and utilities, not shown sepa- rately. NOTE.—Data classified by industry based on the 2007 North American Industry Classification System (NAICS). For details see Employment and Earnings. Data reflect annual revisions released on February 6, 2009; seasonally adjusted data revised beginning 2004. Source: Department of Labor, Bureau of Labor Statistics. 14 VerDate Nov 24 2008 11,543 11,862 12,036 11,986 12,173 12,493 12,816 13,110 13,427 13,459 13,534 13,529 13,528 13,512 13,495 13,490 13,473 13,454 13,428 13,395 13,344 13,313 13,285 Other services Sfmt 3401 E:\HR\OC\ECOIND.014 ECOIND g:\graphics\eecoind.014 Total nonagricultural employment AVERAGE WEEKLY HOURS, HOURLY EARNINGS, AND WEEKLY EARNINGS PRIVATE NONAGRICULTURAL INDUSTRIES [For production or nonsupervisory workers; monthly data seasonally adjusted] Average weekly hours Average gross hourly earnings Manufacturing Total private nonagricultural 1 Period 1999 ................. 2000 ................ 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 r ................ 2008 r ................ 2007: Dec r ...... 2008: Jan r ...... Feb r ...... Mar r ...... Apr r ...... May r ..... June r .... July r ..... Aug r ...... Sept r ..... Oct r ....... Nov r ...... Dec r ...... 2009: Jan p ...... 34.3 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.9 33.6 33.8 33.7 33.8 33.8 33.8 33.7 33.6 33.6 33.7 33.6 33.5 33.4 33.3 33.3 Total Overtime 41.4 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.2 40.8 41.2 41.1 41.2 41.2 41.0 40.9 40.9 41.0 40.8 40.5 40.4 40.2 39.9 39.8 Average gross weekly earnings Total private nonagricultural 1 4.9 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.2 3.7 4.1 4.1 4.1 4.0 4.0 3.9 3.8 3.7 3.7 3.5 3.5 3.2 3.0 2.9 Current dollars $13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 17.43 18.08 17.71 17.77 17.83 17.90 17.94 17.99 18.04 18.10 18.18 18.21 18.28 18.34 18.41 18.46 Total private nonagricultural 1 Manufacturing 1982 dollars 2 $8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.33 8.30 8.27 8.27 8.29 8.30 8.30 8.26 8.18 8.14 8.19 8.21 8.34 8.55 8.66 .............. $13.85 14.32 14.76 15.29 15.74 16.14 16.56 16.81 17.26 17.74 17.42 17.52 17.58 17.64 17.64 17.68 17.73 17.80 17.78 17.81 17.89 17.94 17.96 18.01 1 Also includes other private industry groups shown on p. 14. 2 Current dollar earnings divided by the consumer price index for urban wage earners and clerical workers (CPI–W) (on a 1982=100 base). Current dollars Percent change from a year earlier, total private nonagricultural Current dollars 1982 dollars 2 Manufacturing Construction Retail trade $463.15 481.01 493.79 506.75 518.06 529.09 544.33 567.87 590.04 608.02 598.60 598.85 602.65 605.02 606.37 606.26 606.14 608.16 612.67 611.86 612.38 612.56 613.05 614.72 $275.03 275.97 275.71 279.20 279.13 277.88 276.17 279.19 281.97 279.16 279.69 278.58 280.35 280.42 280.41 278.36 274.98 273.45 275.96 275.83 279.43 285.58 288.43 .............. r$573.14 $655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.21 816.66 842.24 837.09 829.54 833.42 839.46 841.02 836.22 842.50 845.60 849.97 846.05 849.11 839.96 850.48 849.34 $321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.02 385.11 386.39 386.56 386.56 386.86 387.47 387.77 387.39 386.10 386.40 387.60 388.59 385.41 385.31 384.32 385.51 590.77 595.19 618.75 635.99 658.49 r 673.30 691.02 711.56 724.23 717.70 720.07 724.30 726.77 723.24 723.11 725.16 729.80 725.42 721.31 722.76 721.19 716.60 716.80 Current dollars 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 3.9 3.0 3.1 3.5 3.8 3.6 3.8 3.1 2.6 2.9 3.5 3.0 2.9 2.6 2.4 2.7 1982 dollars 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 1.0 ¥1.0 ¥1.3 ¥1.3 ¥.7 ¥.7 ¥.4 ¥1.2 ¥2.6 ¥3.0 ¥2.2 ¥2.3 ¥.9 2.0 3.1 ................ Note.—See Note, p. 14. Source: Department of Labor, Bureau of Labor Statistics. EMPLOYMENT COST INDEX—PRIVATE INDUSTRY Index (December 2005 = 100) Percent change from 3 months earlier Period Total compensation Wages and salaries Benefits 1 Total compensation Wages and salaries 12 months earlier Benefits 1 Total compensation Wages and salaries Benefits 1 Not seasonally adjusted 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. 80.2 83.6 87.3 90.0 93.6 97.2 100.0 103.2 106.3 108.9 83.5 86.7 89.9 92.2 95.1 97.6 100.0 103.2 106.6 109.4 72.6 76.7 81.3 84.7 90.2 96.2 100.0 103.1 105.6 107.7 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. sroberts on PROD1PC70 with ECOIND Seasonally adjusted 2005: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2006: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2007: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2008: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 98.2 98.8 99.5 100.2 100.8 101.6 102.5 103.3 104.0 104.8 105.6 106.5 107.3 107.9 108.6 109.1 98.3 98.8 99.4 100.1 100.8 101.6 102.5 103.3 104.3 105.1 105.9 106.7 107.6 108.4 109.0 109.6 1 Employer costs for employee benefits. NOTE.—The employment cost index is a measure of the change in the cost of labor, free from the influence of employment shifts among occupations and industries. Data exclude farm and household workers. 98.0 98.8 99.7 100.3 100.8 101.6 102.5 103.4 103.1 104.2 105.0 105.8 106.4 106.9 107.5 107.9 0.9 .6 .7 .7 .6 .8 .9 .8 .7 .8 .8 .9 .8 .6 .6 .5 3.5 4.2 4.1 3.1 4.0 3.8 2.9 3.2 3.0 2.4 3.6 3.8 3.8 2.6 3.1 2.6 2.5 3.2 3.3 2.6 3.4 5.6 5.2 4.2 6.5 6.7 4.0 3.1 2.4 2.0 Not seasonally adjusted 0.6 .5 .6 .7 .7 .8 .9 .8 1.0 .8 .8 .8 .8 .7 .6 .6 1.6 .8 .9 .6 .5 .8 .9 .9 ¥.3 1.1 .8 .8 .6 .5 .6 .4 3.5 3.1 2.9 2.9 2.6 2.8 3.0 3.2 3.2 3.1 3.1 3.0 3.2 3.0 2.8 2.4 2.7 2.5 2.3 2.5 2.4 2.8 3.0 3.2 3.6 3.3 3.4 3.3 3.2 3.1 2.9 2.6 5.5 4.7 4.5 4.0 3.0 2.7 2.8 3.1 2.2 2.6 2.4 2.4 3.2 2.6 2.4 2.0 Data beginning 2001 are based on the 2002 North American Industry Classification (NAICS); data prior to 2001 are based on the Standard Industrial Classification (SIC). For details on industry classification and other details see Employment Cost Index, release dated April 28, 2006. Source: Department of Labor, Bureau of Labor Statistics. 15 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00015 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.015 ECOIND PRODUCTIVITY AND RELATED DATA, BUSINESS SECTOR Output per hour of all persons Period Business sector Nonfarm business sector Output 1 Business sector Nonfarm business sector Hours of all persons 2 Business sector Compensation per hour 3 Nonfarm business sector Business sector Nonfarm business sector Real compensation per hour 4 Business sector Nonfarm business sector Unit labor costs Business sector Nonfarm business sector Implicit price deflator 5 Business sector Nonfarm business sector Indexes, 1992=100; quarterly data seasonally adjusted 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 2006 ........................ 2007 ........................ 2008 p ...................... 2005: I ................... II ................. III ................ IV ................ 2006: I ................... II ................. III ................ IV ................ 2007: I ................... II ................. III ................ IV ................ 2008: I .................. II ................. III r ............... IV p* ............. 112.8 116.1 119.1 123.9 128.7 132.4 134.8 136.1 138.2 142.0 134.3 134.2 135.6 135.3 136.1 136.6 135.9 135.9 135.9 137.6 139.7 139.7 140.5 141.8 142.4 143.5 112.5 115.7 118.6 123.5 128.0 131.6 133.9 135.2 137.1 141.0 133.3 133.4 134.6 134.2 135.1 135.7 135.0 135.0 135.0 136.4 138.3 138.6 139.5 140.8 141.3 142.4 135.2 140.5 141.0 143.1 147.5 153.7 159.1 163.9 167.3 169.0 157.1 158.4 160.2 160.6 162.8 164.0 164.1 164.8 164.5 166.8 169.0 168.8 169.1 170.2 169.4 167.2 135.6 140.8 141.3 143.4 147.8 153.9 159.2 164.2 167.5 169.2 157.3 158.4 160.3 160.8 163.2 164.3 164.4 165.0 164.7 167.0 169.2 168.9 169.3 170.5 169.7 167.3 119.8 121.0 118.4 115.4 114.6 116.1 118.0 120.4 121.0 119.0 117.0 118.0 118.2 118.8 119.6 120.1 120.8 121.2 121.0 121.2 121.0 120.8 120.3 120.0 119.0 116.5 120.5 121.7 119.2 116.1 115.4 117.0 118.9 121.5 122.2 120.0 118.0 118.8 119.1 119.8 120.8 121.1 121.8 122.2 122.0 122.4 122.3 121.9 121.4 121.1 120.1 117.5 125.8 134.7 140.3 145.3 151.2 156.9 163.2 169.5 176.5 182.4 161.2 161.6 164.1 165.8 168.0 168.1 169.0 172.6 174.7 175.5 177.0 178.9 180.6 181.1 183.0 185.1 125.2 134.2 139.5 144.6 150.4 155.9 162.2 168.4 175.3 181.3 160.0 160.8 163.2 164.7 166.8 167.1 167.9 171.7 173.7 174.1 175.5 177.8 179.5 179.9 181.8 184.0 108.1 112.0 113.5 115.7 117.7 119.0 119.7 120.4 121.9 121.3 120.1 119.5 119.6 119.6 120.7 119.7 119.1 122.1 122.4 121.6 121.9 121.7 121.5 120.4 119.7 124.0 107.6 111.6 112.8 115.1 117.1 118.2 119.0 119.6 121.1 120.6 119.2 118.9 118.9 118.8 119.8 118.9 118.3 121.4 121.8 120.7 120.8 120.9 120.8 119.6 118.9 123.3 111.5 116.0 117.9 117.3 117.5 118.5 121.0 124.5 127.7 128.4 120.0 120.4 121.1 122.6 123.5 123.1 124.3 127.0 128.5 127.5 126.7 128.1 128.5 127.7 128.5 129.0 111.3 116.0 117.7 117.1 117.5 118.5 121.1 124.6 127.9 128.6 120.0 120.5 121.2 122.7 123.5 123.2 124.4 127.1 128.7 127.7 126.9 128.3 128.7 127.8 128.6 129.2 110.7 112.7 114.9 116.1 117.8 120.8 124.6 128.3 131.4 133.7 123.2 123.8 125.0 126.3 127.2 128.0 128.8 129.4 130.7 131.2 131.6 132.2 132.9 133.2 134.6 134.2 111.1 113.3 115.4 116.7 118.3 121.1 125.1 129.1 131.7 134.2 123.7 124.3 125.6 126.9 127.9 128.8 129.5 130.0 131.1 131.5 131.8 132.5 133.2 133.5 135.0 134.9 1.8 4.2 1.4 ¥.5 .3 .9 2.2 2.8 2.7 .5 ¥1.0 .5 4.4 4.7 ¥.5 1.6 2.4 4.9 2.6 ¥1.1 4.1 9.1 4.9 ¥3.2 ¥2.4 4.5 1.2 ¥2.6 2.6 1.8 0.9 1.8 2.0 1.0 1.5 2.6 3.1 3.0 2.4 1.7 3.4 3.6 1.8 3.5 3.6 2.0 4.1 4.1 3.0 2.6 2.4 1.9 4.0 1.7 1.1 2.0 2.0 .9 4.2 ¥1.1 1.1 1.9 1.9 1.1 1.3 2.4 3.4 3.1 2.1 1.8 3.4 3.0 2.4 3.8 3.9 2.2 4.3 4.2 3.1 2.9 2.1 1.5 3.4 1.5 .9 2.1 2.1 .9 4.7 ¥.5 Percent change; quarterly data at seasonally adjusted annual rates sroberts on PROD1PC70 with ECOIND 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 2006 ........................ 2007 ........................ 2008 p ...................... 2004: I ................... II ................. III ................ IV ................ 2005: I ................... II ................. III ................ IV ................ 2006: I ................... II ................. III ................ IV ................ 2007: I ................... II ................. III ................ IV ................ 2008: I ................... II ................. III r ............... IV p* ............. 3.1 2.9 2.5 4.1 3.8 2.9 1.8 .9 1.5 2.7 2.4 3.7 1.2 2.1 2.8 ¥.3 4.1 ¥1.0 2.6 1.4 ¥2.0 .2 ¥.1 5.0 6.2 .1 2.3 3.7 1.7 3.1 2.9 2.8 2.5 4.1 3.7 2.8 1.8 1.0 1.4 2.8 .9 4.5 1.1 .6 3.2 .3 3.7 ¥1.1 2.5 1.8 ¥2.1 .2 .0 4.1 5.8 .8 2.6 3.6 1.5 3.2 5.1 3.9 .3 1.5 3.1 4.2 3.5 3.0 2.0 1.0 3.7 4.4 4.0 3.0 3.7 3.2 4.8 1.0 5.6 2.9 .3 1.7 ¥.7 5.6 5.5 ¥.6 .7 2.6 ¥1.8 ¥5.2 5.2 3.8 .4 1.5 3.1 4.1 3.4 3.2 2.0 1.0 2.6 5.0 3.8 2.6 3.7 2.9 4.8 1.3 6.0 2.9 .3 1.4 ¥.9 5.8 5.5 ¥.7 .9 2.8 ¥1.9 ¥5.5 2.0 1.0 ¥2.2 ¥2.5 ¥.7 1.3 1.6 2.1 .5 ¥1.7 1.2 .7 2.7 .9 .9 3.5 .6 1.9 3.0 1.5 2.4 1.5 ¥.6 .6 ¥.7 ¥.7 ¥1.6 ¥1.0 ¥3.5 ¥8.1 2.2 1.0 ¥2.0 ¥2.6 ¥.6 1.3 1.6 2.2 .5 ¥1.8 1.7 .4 2.8 2.1 .5 2.6 1.0 2.5 3.3 1.1 2.4 1.2 ¥.8 1.6 ¥.3 ¥1.6 ¥1.7 ¥.8 ¥3.4 ¥8.4 1 Output refers to real gross domestic product originating in the sector. 2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on establishment data. 3 Wages and salaries of employees plus employers’ contributions for social insurance and private benefit plans. Also includes an estimate of wages, salaries, and supplemental payments for the self-employed. 4 Hourly compensation divided by the consumer price index for all urban consumers (CPI– U) for recent quarters. The trend from 1978–2007 is based on the consumer price index research series (CPI–U–RS). 5 Current dollar gross domestic output divided by the output index. 4.9 7.1 4.2 3.5 4.1 3.8 4.0 3.8 4.2 3.3 .6 4.8 5.4 6.4 2.3 1.0 6.5 4.2 5.5 .2 2.0 9.0 4.8 1.9 3.6 4.4 3.6 1.2 4.2 4.7 4.7 7.2 4.0 3.6 4.0 3.6 4.0 3.8 4.1 3.4 ¥.1 5.0 5.5 5.3 2.8 1.9 6.2 3.7 5.2 .7 1.9 9.3 4.9 .8 3.3 5.3 3.8 .9 4.2 5.0 2.8 3.6 1.4 1.9 1.8 1.0 .6 .5 1.3 ¥.5 ¥2.7 1.7 2.5 2.2 .6 ¥1.8 .2 .1 3.6 ¥3.3 ¥1.9 10.6 1.1 ¥2.6 .8 ¥.6 ¥.6 ¥3.7 ¥2.3 15.3 2.6 3.7 1.1 2.0 1.8 .9 .7 .5 r 1.2 ¥.4 ¥3.4 1.8 2.5 1.1 1.0 ¥.9 ¥.1 ¥.3 3.3 ¥2.8 ¥2.0 11.0 1.2 ¥3.6 .5 .3 ¥.4 ¥3.9 ¥2.4 15.6 1.8 4.1 1.6 ¥.5 .2 .9 2.1 2.9 2.6 .6 ¥1.7 1.1 4.1 4.3 ¥.4 1.3 2.3 5.2 2.8 ¥1.2 4.1 8.8 4.8 ¥2.9 ¥2.5 4.3 1.3 ¥2.4 2.5 1.5 NOTE.—Data relate to all persons engaged in the sector. Percent changes are from preceding period and are based on original data; they therefore may differ slightly from percent changes based on indexes shown here. * Data based on GDP data released on January 30, 2009. Source: Department of Labor, Bureau of Labor Statistics. 16 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00016 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.016 ECOIND PRODUCTION AND BUSINESS ACTIVITY INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Industrial production and capacity utilization fell in December. [Monthly data seasonally adjusted] Percent sroberts on PROD1PC70 with ECOIND Period Index, 2002=100 From preceding month Industry production indexes, 2002=100 change 2 From year earlier Capacity utilization rate (output as percent of capacity) 1 Manufacturing Total 1 Durable Nondurable 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2008 p ..................... 99.5 103.7 100.1 100.0 101.2 103.8 107.2 109.6 111.4 109.4 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 4.3 4.2 ¥3.4 ¥.1 1.2 2.5 3.3 2.2 1.7 ¥1.8 99.9 104.4 100.1 100.0 101.3 104.2 108.4 111.1 112.9 110.0 97.8 105.2 100.5 100.0 102.7 106.9 112.7 117.9 121.0 117.9 101.7 102.2 98.9 100.0 100.1 102.0 104.8 105.6 106.6 104.1 2007: Dec ............. 112.4 0.1 2.0 113.8 122.8 2008: Jan ............. Feb ............. Mar ............. Apr ............. May ............ June ........... July r ........... Aug r ............ Sept r ........... Oct r ............. Nov r ............ Dec p ............ 112.6 112.3 112.0 111.4 111.2 111.3 111.2 109.8 105.2 107.1 105.7 103.6 .2 ¥.3 ¥.2 ¥.5 ¥.2 .1 .0 ¥1.3 ¥4.2 1.8 ¥1.3 ¥2.0 2.5 1.6 1.5 .4 .2 ¥.1 ¥.7 ¥1.9 ¥6.3 ¥4.2 ¥5.9 ¥7.8 113.8 113.1 113.3 112.3 112.3 112.1 111.9 110.8 106.4 107.4 105.0 102.5 122.9 122.2 122.4 120.7 120.6 120.9 121.0 119.3 115.4 112.7 110.0 107.1 1 Total industry and total manufacturing series include manufacturing as defined in the North American Industry Classification System (NAICS) plus those industries—logging and newspaper, periodical, book and directory-publishing—that have traditionally been included in manufacturing. 2 Percent changes based on unrounded indexes. Other (nonNAICS) 1 Mining Utilities Total industry Total manufacturing 110.9 112.6 105.7 100.0 97.1 97.9 98.5 94.3 92.9 87.9 101.6 104.2 104.8 100.0 100.2 99.6 98.3 101.4 101.4 103.3 94.7 97.4 97.0 100.0 101.9 103.3 105.5 104.8 108.2 108.3 81.9 81.8 76.3 74.8 76.0 78.0 80.2 80.9 81.0 78.2 80.7 80.1 73.9 72.8 74.0 76.3 78.6 79.4 79.4 75.9 106.8 91.9 103.9 108.2 81.0 79.2 106.8 106.0 106.2 106.0 106.2 105.5 105.1 104.4 99.4 103.5 101.2 99.1 91.3 91.2 91.0 89.1 88.5 88.4 87.2 86.6 86.3 86.5 86.1 84.2 103.2 103.6 103.9 104.0 104.1 104.2 105.8 105.2 95.2 102.3 104.5 102.9 110.8 112.6 108.7 110.4 108.0 110.0 108.9 103.9 105.5 107.8 108.8 108.7 81.0 80.7 80.4 79.9 79.6 79.6 79.4 78.3 75.0 76.3 75.2 73.6 79.1 78.5 78.5 77.7 77.6 77.3 77.1 76.2 73.1 73.7 71.9 70.2 NOTE.—Data based on the North American Industry Classification System (NAICS) except series as defined in footnote 1. Source: Board of Governors of the Federal Reserve System. 17 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00017 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.017 ECOIND G:\graphics\eecoind.017 Total industrial production 1 INDUSTRIAL PRODUCTION—MAJOR MARKET GROUPS AND SELECTED MANUFACTURES [2002=100; monthly data seasonally adjusted] Products and nonindustrial supplies Materials Final products Nonindustrial supplies Consumer goods Equipment Durable goods Business equipment Period Total Total Nondurable goods Total 1 Defense and space equipment Total Construction supplies Business supplies Total 1 Energy 1999 ............................................................ 2000 ............................................................ 2001 ............................................................ 2002 ............................................................ 2003 ............................................................ 2004 ............................................................ 2005 ............................................................ 2006 ............................................................ 2007 ............................................................ 2008 p .......................................................... 99.9 103.0 101.0 100.0 101.2 103.4 107.7 110.5 112.8 110.9 97.5 99.4 98.2 100.0 101.3 102.6 105.5 105.8 107.5 105.1 96.3 99.2 94.8 100.0 103.2 104.3 104.9 103.6 103.2 93.1 98.0 99.5 99.5 100.0 100.5 101.9 105.5 106.4 108.8 108.8 105.9 111.8 107.8 100.0 100.9 105.3 113.6 123.1 127.1 126.4 106.5 114.8 108.2 100.0 99.7 104.9 112.6 124.3 128.4 126.9 102.1 92.1 100.3 100.0 106.3 105.5 116.6 112.9 117.1 118.3 100.8 104.7 100.4 100.0 101.1 103.3 107.1 108.3 107.9 104.4 102.4 104.7 100.1 100.0 99.6 101.8 106.4 108.8 106.0 99.6 100.3 104.7 100.5 100.0 101.7 103.9 107.4 108.1 108.7 106.4 98.6 103.9 99.2 100.0 101.3 104.3 106.8 109.2 111.3 109.7 99.9 101.5 100.3 100.0 100.0 99.6 98.4 99.9 101.6 103.1 2007: Dec .................................................. 113.5 107.4 102.7 108.8 129.8 131.2 119.9 107.6 104.2 108.9 113.1 104.1 2008: Jan .................................................. Feb .................................................. Mar ................................................. Apr .................................................. May ................................................. June ................................................ July r ................................................ Aug r ................................................ Sept r ................................................ Oct r ................................................. Nov r ................................................ Dec p ................................................ 114.0 113.8 113.2 112.3 112.1 112.5 112.2 110.5 107.4 108.6 108.4 107.3 108.0 107.9 106.7 106.2 105.8 106.2 106.1 103.8 102.3 104.6 103.6 101.8 101.1 100.0 97.8 94.5 94.9 96.7 97.2 91.2 90.1 88.0 85.1 81.0 110.1 110.4 109.5 109.8 109.1 109.1 108.8 107.7 106.0 109.7 109.2 108.1 130.0 129.5 130.5 129.0 129.3 129.6 128.9 128.6 121.1 118.7 121.0 122.0 131.4 131.1 132.3 130.0 130.4 130.4 129.8 129.3 119.9 116.8 120.2 122.4 120.9 119.6 119.6 119.5 119.0 120.3 118.5 118.6 115.6 117.1 116.6 115.8 107.7 107.2 106.7 106.6 106.1 105.7 105.9 105.0 102.4 102.7 100.2 97.7 103.6 102.3 102.3 101.4 101.7 101.3 102.0 101.0 98.7 97.3 92.8 89.7 109.3 109.2 108.5 108.6 107.9 107.5 107.5 106.6 103.8 104.9 103.1 100.9 113.0 112.6 112.8 112.3 112.2 112.1 112.2 110.9 104.2 107.3 105.2 102.3 104.2 104.5 104.3 104.1 104.2 104.1 104.9 103.1 95.1 101.6 104.0 103.4 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metals Period Total Iron and steel products Fabricated metal products Machinery Total Selected hightechnology 1 Transportation equipment Total Motor vehicles and parts Apparel Printing and support Chemical Food 1999 ............................................................ 2000 ............................................................ 2001 ............................................................ 2002 ............................................................ 2003 ............................................................ 2004 ............................................................ 2005 ............................................................ 2006 ............................................................ 2007 ............................................................ 2008 p .......................................................... 115.1 111.4 99.4 100.0 99.1 110.0 108.0 112.4 110.3 105.1 111.9 110.8 96.8 100.0 101.2 118.2 110.1 119.5 115.7 105.9 106.4 110.7 102.6 100.0 98.7 98.9 103.5 109.1 112.0 109.4 112.0 117.7 104.2 100.0 99.7 103.8 110.2 115.5 116.0 110.7 77.2 101.3 103.6 100.0 113.8 129.0 143.5 164.6 183.4 203.3 70.0 98.4 101.7 100.0 119.7 136.5 157.2 190.6 224.4 258.9 104.5 99.7 96.2 100.0 101.0 100.7 104.6 104.2 106.2 96.1 100.5 99.9 91.4 100.0 103.5 103.7 103.9 100.2 97.2 83.3 155.6 148.0 126.9 100.0 92.8 79.8 77.0 75.4 75.7 71.9 112.4 113.1 106.3 100.0 96.2 96.9 99.0 99.5 99.8 94.7 93.6 95.0 93.3 100.0 101.3 105.6 109.3 112.6 114.2 110.0 96.0 97.7 97.7 100.0 101.0 101.1 104.2 105.4 110.1 112.3 2007: Dec .................................................. 112.9 121.6 113.1 114.6 198.1 250.6 106.6 95.5 75.1 99.0 114.6 112.0 2008: Jan .................................................. Feb .................................................. Mar ................................................. Apr .................................................. May ................................................. June ................................................ July r ................................................ Aug r ................................................ Sept r ................................................ Oct r ................................................. Nov r ................................................ Dec p ................................................ 115.2 114.1 112.3 111.5 109.5 109.9 112.0 110.4 104.6 96.5 85.1 77.1 121.7 124.6 119.5 118.2 113.8 114.5 119.8 116.3 104.4 88.0 68.3 54.5 113.4 113.5 113.6 112.4 111.5 110.1 109.7 110.1 108.9 106.8 104.0 99.7 115.2 114.1 116.0 112.4 112.3 112.1 110.9 112.7 109.1 107.2 104.4 101.3 198.5 202.2 206.2 208.9 209.5 209.7 209.9 208.8 206.0 202.8 195.5 190.1 251.6 257.0 264.5 269.5 269.7 269.4 270.5 268.4 265.3 259.3 244.1 234.2 105.9 104.5 101.6 97.8 97.9 100.6 101.2 94.8 88.1 85.1 88.3 88.5 93.9 93.0 88.6 83.1 83.4 86.9 88.9 79.4 80.3 77.4 75.5 70.0 74.2 73.6 72.3 71.7 70.3 71.3 72.4 72.8 71.5 70.0 70.9 70.6 98.4 97.3 98.4 97.4 97.0 94.2 92.6 94.0 93.2 92.9 91.9 89.3 114.6 113.6 113.2 113.2 113.4 112.7 112.2 111.2 102.0 108.5 104.0 101.3 112.2 112.0 113.6 113.1 112.5 112.4 111.9 111.9 111.6 113.5 113.5 110.7 1 Computers and peripheral equipment, communications equipment, and semiconductors and related electronic components. sroberts on PROD1PC70 with ECOIND Nondurable manufactures Computer and electronic products Source: Board of Governors of the Federal Reserve System. 18 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00018 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.018 ECOIND NEW CONSTRUCTION [Billions of dollars; monthly data at seasonally adjusted annual rates] Private Period Total new construction expenditures Residential Total New housing Total 1 Federal and State and local Nonresidential Total Lodging Commercial (including farm) Office Manufacturing Other 2 1999 .................................... 2000 .................................... 2001 .................................... 2002 .................................... 2003 .................................... 2004 .................................... 2005 .................................... 2006 .................................... 2007 .................................... 2008 p .................................. 744.6 802.8 840.2 847.9 891.5 991.6 1,102.7 1,167.6 1,137.2 1,078.9 575.5 621.4 638.3 634.4 675.4 771.4 868.5 912.2 850.0 770.4 326.3 346.1 364.4 396.7 446.0 532.9 611.9 613.7 492.5 358.4 251.3 265.0 279.4 298.8 345.7 417.5 480.8 468.8 353.4 230.4 249.2 275.3 273.9 237.7 229.3 238.5 256.6 298.4 357.5 412.0 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.6 27.5 36.7 45.1 52.4 49.7 35.3 30.6 32.9 37.3 45.7 53.4 57.9 59.4 64.1 63.6 59.0 57.5 63.2 66.6 73.4 85.0 82.3 35.1 37.6 37.8 22.7 21.4 23.7 29.9 35.1 42.2 63.8 93.7 104.9 108.2 110.2 109.9 106.8 110.2 126.7 149.4 171.4 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.4 287.1 308.5 2007: Dec .......................... 1,093.5 797.5 413.9 289.2 383.7 31.2 56.1 85.1 51.2 160.0 296.0 2008: Jan .......................... Feb .......................... Mar .......................... Apr ........................... May ......................... June ........................ July ......................... Aug .......................... Sept ......................... Oct r ......................... Nov r ......................... Dec p ......................... 1,085.4 1,075.3 1,090.5 1,085.2 1,088.3 1,086.6 1,060.0 1,085.7 1,089.4 1,082.3 1,068.8 1,053.7 794.6 783.7 789.6 783.7 784.1 780.4 751.5 769.1 777.0 766.9 749.6 737.1 404.9 392.0 391.6 383.5 371.4 356.4 334.5 352.9 350.2 343.8 329.9 319.2 277.2 258.8 256.4 247.9 243.9 237.0 232.2 221.6 214.1 205.7 194.6 180.9 389.7 391.6 398.0 400.2 412.8 424.0 417.0 416.1 426.9 423.1 419.7 417.9 31.5 32.5 33.7 35.9 37.8 38.9 38.2 39.5 38.6 37.8 37.8 37.7 58.4 57.0 57.3 57.7 57.8 57.4 58.1 58.2 59.7 58.2 57.8 56.2 86.7 87.0 86.9 87.5 85.6 84.8 82.9 81.6 78.4 77.8 76.4 75.5 48.8 49.5 51.1 52.0 63.3 72.4 66.1 65.3 71.6 74.0 73.1 75.3 164.3 165.7 169.0 167.2 168.2 170.5 171.7 171.5 178.6 175.3 174.6 173.2 290.8 291.6 300.8 301.5 304.1 306.2 308.5 316.7 312.4 315.4 319.3 316.6 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not shown separately. Source: Department of Commerce, Bureau of the Census. NEW PRIVATE HOUSING AND VACANCY RATES [Thousands of units or houses, except as noted] New private housing units Period Total 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ...................................... 2006 ...................................... 2007 ...................................... 2008 p .................................... New private houses Units started, by type of structure 1,640.9 1,568.7 1,602.7 1,704.9 1,847.7 1,955.8 2,068.3 1,800.9 1,355.0 904.3 2–4 units 1 1 unit 1,302.4 1,230.9 1,273.3 1,358.6 1,499.0 1,610.5 1,715.8 1,465.4 1,046.0 622.4 5 units or more 31.9 38.7 36.6 38.5 33.5 42.3 41.1 42.7 31.7 17.2 306.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 277.3 264.7 Units authorized 1,663.5 1,592.3 1,636.7 1,747.7 1,889.2 4 2,070.1 2,155.3 1,838.9 1,398.4 892.8 Units completed Houses sold 1,604.9 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 1,502.8 1,116.6 880 877 908 973 1,086 1,203 1,283 1,051 776 482 Houses for sale at end of period 2 308 298 308 339 370 422 511 536 494 357 Vacancy rate for rental housing units (percent) 3 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 9.8 10.0 Seasonally adjusted annual rates 2007: Dec ........................... 1,000 779 10 211 1,111 1,329 600 494 9.6 2008: Jan ............................ Feb ............................ Mar ............................ Apr ............................. May ........................... June .......................... July ........................... Aug ............................ Sept ........................... Oct r ........................... Nov r ........................... Dec p ........................... 1,064 1,107 988 1,004 982 1,089 949 854 824 767 651 550 750 722 711 681 682 663 644 615 551 536 460 398 27 29 16 15 20 22 14 15 19 10 16 7 287 356 261 308 280 404 291 224 254 221 175 145 1,052 981 932 982 978 1,138 937 857 805 730 615 547 1,331 1,251 1,192 1,033 1,144 1,131 1,086 1,012 1,155 1,054 1,071 1,015 597 572 513 542 515 499 505 448 r 434 406 388 331 484 477 469 463 459 445 433 428 r 416 403 397 357 ...................... ...................... 10.1 ...................... ...................... 10.0 ...................... ...................... 9.9 ...................... ...................... 10.1 1 Derived; seasonally adjusted monthly data for 2–4 units are no longer published. adjusted. series. Quarterly data entered in last month of quarter. 4 Based on 20,000 permit-issuing places. Based on 19,000 places, the total for 2004 is 2,052.1 thousand units. 2 Seasonally sroberts on PROD1PC70 with ECOIND 3 Revised NOTE.—Beginning 2004, units authorized are for 20,000 permit-issuing places. For other data shown, units authorized are for 19,000 places. Beginning 1999, housing starts, completions, and sales are not directly comparable with earlier data due to new estimation methods. Source: Department of Commerce, Bureau of the Census. 19 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00019 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.019 ECOIND BUSINESS SALES AND INVENTORIES—Manufacturing and Trade In November, according to current estimates, manufacturing and trade sales fell 5.6 percent and inventories fell $11.8 billion. According to advance estimates, retail sales fell 2.7 percent in December. Retail and food services sales also fell 2.7 percent. [Millions of dollars, except ratios; seasonally adjusted, except as noted] Manufacturing and trade 1 sroberts on PROD1PC70 with ECOIND Sales 2 Inventories 3 Inventorysales ratio 4 Sales 2 Inventories 3 Retail Inventory sales ratio 4 Sales 2 Inventories 3 Inventory sales ratio 4 Retail and food services sales 2 1998 .............................................................. 742,837 1,078,740 1.43 202,260 272,406 1.31 1999 .............................................................. 786,634 1,138,805 1.40 216,597 290,171 1.30 2000 .............................................................. 834,325 1,197,597 1.41 234,546 309,071 1.29 2001 .............................................................. 818,615 1,120,025 1.42 232,096 297,199 1.32 2002 .............................................................. 823,714 1,140,083 1.36 236,294 300,791 1.25 2003 .............................................................. 853,596 1,146,695 1.34 246,857 306,032 1.22 2004 .............................................................. 923,319 1,238,037 1.30 274,710 335,935 1.17 2005 .............................................................. 1,001,315 1,305,227 1.27 298,803 360,411 1.17 2006 .............................................................. 1,068,026 1,390,428 1.27 325,749 390,350 1.16 2007 .............................................................. 1,113,787 1,443,837 1.27 353,663 411,955 1.13 2008 p ............................................................ .................. .................. ................ ................ ................ ................ 215,592 357,269 1.62 234,046 385,009 1.59 249,063 406,853 1.59 255,644 394,713 1.58 261,194 416,159 1.55 272,123 432,359 1.56 289,528 461,405 1.56 307,338 471,956 1.51 323,947 488,591 1.49 336,701 501,218 1.47 334,963 ................ ................ 238,278 257,797 274,518 282,131 288,845 301,264 320,526 340,141 358,978 373,556 373,197 2007: Nov r ................................................... Dec r ................................................... 346,809 342,552 1.45 1.46 384,163 380,592 342,378 503,313 1.47 340,599 502,744 1.48 342,367 499,972 1.46 342,733 501,054 1.46 345,425 499,667 1.45 345,636 500,100 1.45 343,097 506,863 1.48 340,422 503,330 1.48 334,415 504,102 1.51 321,965 502,955 1.56 r 313,925 496,622 1.58 305,397 ................ ................ 380,019 378,106 380,020 380,788 383,769 384,069 381,578 378,966 373,033 360,296 r 352,627 343,242 1,160,389 1,147,184 1,438,248 1,443,837 1.24 1.26 378,025 371,569 409,334 411,955 1.08 1.11 2008: Jan .................................................... 1,160,251 1,457,953 1.26 380,230 417,143 1.10 Feb .................................................... 1,148,347 1,464,497 1.28 378,217 421,078 1.11 Mar .................................................... 1,161,817 1,467,463 1.26 385,072 421,700 1.10 Apr ..................................................... 1,179,814 1,474,247 1.25 391,050 427,560 1.09 May .................................................... 1,192,681 1,479,765 1.24 399,845 431,273 1.08 June ................................................... 1,213,469 1,490,874 1.23 411,960 435,147 1.06 July ................................................... 1,214,338 1,507,756 1.24 408,862 441,823 1.08 Aug .................................................... 1,188,196 1,510,658 1.27 402,319 444,547 1.10 Sept ................................................... 1,159,637 1,505,253 1.30 393,730 442,855 1.12 Oct r .................................................... 1,113,929 1,495,669 1.34 376,064 437,724 1.16 Nov p ................................................... r 1,052,098 1,483,881 1.41 349,245 435,006 1.25 Dec p ................................................... .................. .................. ................ ................ ................ ................ 1 See page 21 for manufacturing. data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. 3 Seasonally adjusted, end of period. 2 Annual 4 Annual data are averages of seasonally adjusted monthly ratios. Source: Department of Commerce, Bureau of the Census. 20 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00020 Fmt 3401 502,475 501,218 Sfmt 3401 E:\HR\OC\ECOIND.020 ECOIND G:\graphics\eecoind.020 Period Wholesale MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS In December, manufacturers’ shipments, inventories and new and unfilled orders fell. Manufacturers’ shipments 1 Manufacturers’ inventories 2 Manufacturers’ new orders 1 Durable goods Period Total Durable goods Nondurable goods Durable goods Total Nondurable goods Total Total Capital goods industries, nondefense Manufacturers’ unfilled orders 2 Manufacturers’ inventory— shipments ratio 3 Millions of dollars, seasonally adjusted, except as noted 335,991 350,715 330,875 326,227 334,616 359,081 395,173 418,330 423,423 432,051 433,063 437,643 429,531 434,378 446,031 447,411 455,873 462,379 445,455 431,492 415,900 388,928 377,642 193,895 197,807 181,201 176,968 178,549 188,722 202,070 213,408 213,572 207,818 211,274 215,917 211,772 209,778 213,591 211,049 212,947 217,549 208,339 208,240 201,119 192,772 190,845 142,096 152,908 149,674 149,259 156,067 170,359 193,103 204,923 209,851 224,233 221,789 221,726 217,759 224,600 232,440 236,362 242,926 244,830 237,116 223,252 214,781 196,156 186,797 463,625 481,673 428,113 423,133 408,304 440,697 472,860 511,487 530,664 544,301 530,664 537,497 540,675 545,791 545,633 548,825 555,627 559,070 562,781 558,296 554,990 552,253 544,301 1 Annual data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. Shipments are the same as sales. 2 Seasonally adjusted, end of period. 3 Annual data are averages of seasonally adjusted monthly ratios. NOTE.—Manufacturers’ nondurable new orders (not shown) are the same as nondurable shipments. Also, there are no unfilled nondurable orders; data shown for total unfilled orders are durable unfilled orders. 296,553 306,727 267,829 260,582 246,963 265,070 283,598 309,914 320,757 343,484 320,757 322,384 323,841 327,066 328,911 330,426 333,127 336,185 339,033 339,728 341,168 342,259 343,484 167,072 174,946 160,284 162,551 161,341 175,627 189,262 201,573 209,907 200,817 209,907 215,113 216,834 218,725 216,722 218,399 222,500 222,885 223,748 218,568 213,822 209,994 200,817 329,770 346,789 322,746 316,809 330,369 354,619 395,401 419,793 427,597 429,444 445,917 435,415 433,860 440,216 445,915 450,033 459,576 462,993 443,200 429,286 403,315 377,203 362,437 187,674 193,881 173,072 167,550 174,302 184,261 202,298 214,871 217,746 205,211 224,128 213,689 216,101 215,616 213,475 213,671 216,650 218,163 206,084 206,034 188,534 181,047 175,640 64,392 69,278 58,246 51,817 52,894 56,094 65,770 71,725 74,288 69,207 78,238 73,271 74,408 75,431 73,609 73,639 71,958 74,498 68,694 67,923 63,487 60,140 56,363 505,498 549,445 514,349 462,122 477,608 496,343 572,835 660,406 773,297 801,887 773,297 777,859 786,860 797,114 802,972 810,293 818,023 824,232 826,529 828,225 820,672 812,879 801,887 1.35 1.35 1.38 1.28 1.24 1.19 1.17 1.19 1.23 1.28 1.23 1.23 1.26 1.26 1.22 1.23 1.22 1.21 1.26 1.29 1.33 1.42 1.44 Total and durable shipments and inventories include data on semiconductors; new and unfilled orders do not. Source: Department of Commerce, Bureau of the Census. 21 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 sroberts on PROD1PC70 with ECOIND 1999 .................................................... 2000 .................................................... 2001 .................................................... 2002 .................................................... 2003 .................................................... 2004 .................................................... 2005 .................................................... 2006 .................................................... 2007 ..................................................... 2008 p .................................................. 2007: Dec ........................................... 2008: Jan ........................................... Feb ........................................... Mar .......................................... Apr ........................................... May .......................................... June ......................................... July .......................................... Aug .......................................... Sept .......................................... Oct ........................................... Nov r ......................................... Dec p ......................................... PRICES PRODUCER PRICES The producer price index for all finished goods fell 1.9 percent in December. Prices of finished consumer foods fell 1.5 percent, while prices of other finished consumer goods fell 3.0 percent. Capital equipment prices rose 0.2 percent. [1982=100; monthly data seasonally adjusted] Finished goods Total finished goods Finished goods excluding consumer foods Consumer foods Consumer goods Total sroberts on PROD1PC70 with ECOIND Total 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2007 .......................... 2008 p ........................ 2007: Dec ................ 2008: Jan ................ Feb ................ Mar ................ Apr ................ May ............... June .............. July ............... Aug r ............... Sept ............... Oct ................. Nov ................ Dec ................ 1 Intermediate 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 166.6 177.1 171.4 173.4 174.0 175.6 176.1 178.6 181.7 183.9 182.3 181.5 176.5 172.6 169.3 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 167.0 178.4 171.9 174.9 173.8 176.2 176.2 177.3 180.0 180.6 181.1 181.5 181.2 181.2 178.5 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 166.2 176.5 171.0 172.7 173.8 175.1 175.7 178.7 181.9 184.4 182.3 181.2 175.0 170.0 166.5 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 175.6 189.0 182.4 184.6 186.0 188.0 188.4 192.8 197.4 200.9 197.3 195.4 185.6 178.0 172.6 Durable Nondurable 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 138.3 141.1 138.7 139.3 139.7 139.5 140.5 140.5 140.6 140.9 141.7 141.9 142.4 142.4 143.1 materials for food manufacturing and feeds. Capital equipment 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 191.7 210.5 201.5 204.5 206.4 209.5 209.7 216.3 223.2 228.3 222.4 219.4 204.4 192.7 184.2 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 149.5 153.7 150.3 151.0 151.6 151.6 152.5 152.9 153.1 154.0 154.6 155.2 155.9 156.0 156.3 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 173.5 186.3 179.7 182.1 182.8 184.9 185.3 188.7 192.7 195.4 192.9 191.7 184.7 179.3 174.7 Intermediate materials Crude materials Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 170.7 188.6 177.2 179.3 180.9 185.2 187.1 192.2 196.5 201.9 198.8 197.1 189.5 181.3 173.7 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 154.4 182.2 165.2 171.0 175.1 180.4 180.7 184.1 186.2 194.8 193.7 191.8 181.3 176.9 170.8 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 171.5 189.0 177.8 179.7 181.2 185.5 187.4 192.6 197.0 202.3 199.0 197.4 190.0 181.5 173.8 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 207.1 251.7 230.3 236.9 246.2 262.6 274.9 291.7 299.9 311.9 273.4 256.9 209.0 182.8 173.1 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 146.7 163.5 160.2 165.1 167.0 170.6 169.8 171.4 176.0 176.6 168.1 165.9 147.5 145.8 138.0 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 246.3 313.5 276.3 283.8 299.6 327.1 351.3 381.6 392.5 414.7 350.1 321.2 248.8 200.5 190.1 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00022 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.022 ECOIND g:\graphics\eecoind.022 Period Total finished consumer goods CONSUMER PRICES—ALL URBAN CONSUMERS In December, the consumer price index for all urban consumers fell 0.7 percent seasonally adjusted; it fell 1.0 percent not seasonally adjusted. The index was 0.1 percent above its year-earlier level. [1982–84=100, except as noted; monthly data seasonally adjusted, except as noted] Housing Transportation Shelter Seasonally adjusted Rel. imp.3 ............... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2008 ....................... 100.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 215.303 .............. 13.8 42.4 32.6 5.8 .............. 164.1 163.9 187.3 177.5 .............. 167.8 169.6 193.4 183.9 .............. 173.1 176.4 200.6 192.1 .............. 176.2 180.3 208.1 199.7 .............. 180.0 184.8 213.1 205.5 .............. 186.2 189.5 218.8 211.0 .............. 190.7 195.7 224.4 217.3 .............. 195.2 203.2 232.1 225.1 .............. 202.916 209.586 240.611 234.679 .............. 214.106 216.264 246.666 243.271 23.9 5.1 3.7 17.7 5.5 6.2 192.9 128.8 131.3 144.4 100.7 250.6 198.7 137.9 129.6 153.3 129.3 260.8 206.3 150.2 127.3 154.3 124.7 272.8 214.7 143.6 124.0 152.9 116.6 285.6 219.9 154.5 120.9 157.6 135.8 297.1 224.9 161.9 120.4 163.1 160.4 310.1 230.2 179.0 119.5 173.9 195.7 323.2 238.2 194.7 119.5 180.9 221.0 336.2 246.235 200.632 118.998 184.682 239.070 351.054 252.426 220.018 118.907 195.549 279.652 364.065 9.7 76.5 106.6 177.0 124.6 181.3 129.3 186.1 121.7 190.5 136.5 193.2 151.4 196.6 177.1 200.9 196.9 205.9 207.723 210.729 236.666 215.572 2007: Dec ............ 210.036 211.680 206.584 212.409 243.974 238.925 249.425 205.615 119.240 194.653 279.928 358.861 229.076 213.103 2008: Jan ............ Feb ............ Mar ............ Apr ............ May ............ June ........... July ............ Aug ............. Sept ............ Oct ............. Nov ............. Dec ............. 211.080 211.693 213.528 214.823 216.632 218.815 219.964 219.086 218.783 216.573 212.425 210.228 250.051 250.413 250.941 251.461 251.656 252.299 252.610 252.970 253.493 253.871 254.580 254.766 230.633 229.390 233.839 233.804 244.107 260.316 270.602 262.107 257.086 235.053 195.144 178.901 Period sroberts on PROD1PC70 with ECOIND All items less food and energy Not seasonally adjusted (NSA) 212.516 212.571 213.301 213.743 215.132 217.403 219.181 218.880 218.813 216.710 213.060 211.490 Food Total 1 Total 1 208.026 208.778 209.255 211.232 211.918 213.542 215.545 216.807 218.029 218.582 218.939 218.770 212.920 213.313 214.204 214.850 215.876 216.918 218.267 218.101 217.891 217.793 217.577 217.521 244.744 244.837 245.200 245.335 245.822 246.612 247.090 247.258 247.971 248.058 248.472 248.556 Rent of primary residence 239.745 240.191 240.763 241.489 241.919 242.837 243.535 244.296 244.977 245.840 246.558 247.095 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. excluded beginning 1983. 2 Household Owners’ equivalent rent (12/82= 100) Fuels and utilities 205.567 208.175 212.311 216.921 222.094 226.160 233.540 230.876 224.377 223.111 219.524 218.362 Apparel 119.759 119.352 117.819 118.363 118.043 118.107 119.574 120.157 120.005 118.843 119.165 118.043 Total 1 195.722 194.390 195.797 194.483 198.465 205.915 209.358 206.303 205.036 194.031 175.106 167.363 Motor fuel 283.011 277.448 281.996 276.571 292.243 321.618 334.732 320.647 317.962 273.671 194.333 161.723 Medical care 360.815 361.168 361.697 362.243 362.801 363.618 363.852 364.710 365.836 366.470 367.316 368.350 Energy 2 213.765 213.851 214.176 214.398 214.832 215.526 216.230 216.650 216.956 216.801 216.849 216.816 3 Relative importance, December 2007. Source: Department of Labor, Bureau of Labor Statistics. 23 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00023 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.023 ECOIND g:\graphics\eecoind.023 All items 1 CHANGES IN PRODUCER PRICES FOR FINISHED GOODS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Period Change from preceding period Change from 3 months earlier, annual rate Change from 6 months earlier, annual rate Consumer goods Consumer goods Consumer goods Total finished goods Foods Capital equipment Excluding foods Change from year earlier, total finished goods NSA Total finished goods Foods Excluding foods Capital equipment Total finished goods Foods Excluding foods Capital equipment ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Change, Dec. to Dec., NSA 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 ................. 2008 p ............... 2.9 3.6 ¥1.6 1.2 4.0 4.2 5.4 1.1 6.2 ¥.9 0.8 1.7 1.8 ¥.6 7.7 3.1 1.7 1.7 7.6 3.7 5.1 5.5 ¥3.9 2.9 4.1 5.5 8.8 .4 7.7 ¥4.8 0.3 1.2 0 ¥.6 .8 2.4 1.2 2.3 1.4 4.0 1.8 3.8 2.0 ¥1.3 3.2 3.6 4.8 3.0 3.9 6.3 Change, month to month 2007: Dec ....... ¥0.5 1.3 ¥1.3 ¥0.1 11.0 9.9 15.6 1.6 5.8 7.1 7.5 1.1 6.2 2008: Jan ....... Feb ....... Mar ....... Apr ....... May ...... June ..... July ...... Aug r ..... Sept ...... Oct ........ Nov ....... Dec ....... 1.2 .3 .9 .3 1.4 1.7 1.2 ¥.9 ¥.4 ¥2.8 ¥2.2 ¥1.9 1.7 ¥.6 1.4 .0 .6 1.5 .3 .3 .2 ¥.2 .0 ¥1.5 1.2 .8 1.1 .2 2.3 2.4 1.8 ¥1.8 ¥1.0 ¥5.0 ¥4.1 ¥3.0 .5 .4 .0 .6 .3 .1 .6 .4 .4 .5 .1 .2 13.8 4.0 10.2 6.4 11.0 14.6 18.9 8.5 ¥.4 ¥15.1 r ¥19.6 ¥24.3 12.0 10.0 10.4 3.0 8.3 8.9 10.4 8.9 3.4 1.3 r .2 ¥6.4 18.8 2.6 12.9 8.5 15.4 21.6 29.3 9.7 ¥4.0 ¥27.2 r ¥33.8 ¥39.1 3.2 3.2 3.5 4.0 3.5 4.0 4.0 4.5 5.6 5.0 r 3.7 2.9 7.2 9.7 10.6 10.0 7.4 12.4 12.5 9.8 6.8 .5 ¥6.6 ¥13.2 11.0 9.6 10.1 7.4 9.2 9.6 6.6 8.6 6.1 5.8 4.4 ¥1.7 8.0 12.8 14.2 13.6 8.8 17.1 18.4 12.5 8.0 ¥3.0 ¥14.8 ¥23.5 1.7 2.6 2.6 3.6 3.4 3.8 4.0 4.0 4.8 4.5 4.1 4.2 7.4 6.5 6.7 6.4 7.3 9.1 9.9 9.7 8.7 5.2 .4 ¥.9 Source: Department of Labor, Bureau of Labor Statistics. CHANGES IN CONSUMER PRICES—ALL URBAN CONSUMERS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Housing Transportation Shelter Period All items 1 Food Total 1 Total 1 Rent of Ownpriers’ mary equivaresilent dence rent Fuels and utilities Apparel Total 1 New cars Motor fuel Medical care Energy 2 All items less food and energy Addendum: All items, percent change (annual rate) From previous quarter 3 From From 3 6 months months earlier earlier From year earlier NSA Change, December to December, NSA 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 2.7 3.4 1.6 2.4 1.9 3.3 3.4 2.5 4.1 .1 1.9 2.8 2.8 1.5 3.6 2.7 2.3 2.1 4.9 5.9 2.2 4.3 2.9 2.4 2.2 3.0 4.0 3.3 3.0 2.4 2.5 3.4 4.2 3.1 2.2 2.7 2.6 4.2 3.1 1.9 3.1 4.0 4.7 3.1 2.7 2.9 3.1 4.3 4.0 3.4 2.4 3.4 4.5 3.3 2.0 2.3 2.5 4.3 2.8 2.1 2.4 12.1 ¥2.1 1.4 6.5 7.9 15.6 .5 5.4 6.0 ¥.5 5.4 ¥1.8 4.1 ¥3.2 ¥3.8 ¥1.8 3.8 ¥2.1 .3 ¥.2 6.5 ¥1.1 4.8 .9 1.6 ¥.3 8.3 ¥1.0 ¥13.3 ¥.8 .3 0 ¥2.0 ¥2.1 .5 .8 .2 ¥.4 ¥1.1 30.2 13.9 ¥24.8 24.6 6.8 26.1 16.2 6.4 29.5 ¥42.2 3.7 4.2 4.7 5.0 3.7 4.2 4.3 3.6 5.2 2.6 13.4 14.2 ¥13.0 10.7 6.9 16.6 17.1 2.9 17.4 ¥21.3 1.9 2.6 2.7 1.9 1.1 2.2 2.2 2.6 2.4 1.8 .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... 2.2 3.4 2.8 1.6 2.3 2.7 3.4 3.2 2.8 3.8 6.2 4.3 4.1 .......... 6.8 .......... 3.1 4.3 3.1 .......... 2.3 .......... 4.9 5.0 7.9 .......... 10.6 .......... 7.2 6.7 2.6 .......... ¥4.4 .......... ¥10.2 ¥9.2 ¥12.7 5.0 4.7 4.7 4.6 4.5 4.0 5.5 6.4 6.0 5.2 2.8 ¥1.9 ¥5.4 4.3 4.0 4.0 3.9 4.2 5.0 5.6 5.4 4.9 3.7 1.1 .1 Change, month to month 2007: Dec ............... 0.4 0.1 0.3 0.3 0.4 0.3 0.3 0.1 1.0 0.0 2.8 0.3 1.7 0.2 2008: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. July .............. Aug ............... Sept .............. Oct ................ Nov ............... Dec ............... .4 .0 .3 .2 .6 1.1 .8 ¥.1 .0 ¥1.0 ¥1.7 ¥.7 .7 .4 .2 .9 .3 .8 .9 .6 .6 .3 .2 ¥.1 .2 .2 .4 .3 .5 .5 .6 ¥.1 ¥.1 .0 ¥.1 .0 .3 .0 .1 .1 .2 .3 .2 .1 .3 .0 .2 .0 .3 .2 .2 .3 .2 .4 .3 .3 .3 .4 .3 .2 .3 .1 .2 .2 .1 .3 .1 .1 .2 .1 .3 .1 .0 1.3 2.0 2.2 2.4 1.8 3.3 ¥1.1 ¥2.8 ¥.6 ¥1.6 ¥.5 .4 ¥.3 ¥1.3 .5 ¥.3 .1 1.2 .5 ¥.1 ¥1.0 .3 ¥.9 .5 ¥.7 .7 ¥.7 2.0 3.8 1.7 ¥1.5 ¥.6 ¥5.4 ¥9.8 ¥4.4 ¥.3 ¥.1 .0 .0 .1 .4 .7 .0 ¥.4 ¥.6 ¥.4 ¥.4 1.1 ¥2.0 1.6 ¥1.9 5.7 10.1 4.1 ¥4.2 ¥.8 ¥13.9 ¥29.0 ¥16.8 .5 .1 .1 .2 .2 .2 .1 .2 .3 .2 .2 .3 .7 ¥.5 1.9 .0 4.4 6.6 4.0 ¥3.1 ¥1.9 ¥8.6 ¥17.0 ¥8.3 .3 .0 .2 .1 .2 .3 .3 .2 .1 ¥.1 .0 .0 sroberts on PROD1PC70 with ECOIND 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc., excluded beginning 1983. 2 Household 3 Quarterly changes are shown in the last month of the quarter. Source: Department of Labor, Bureau of Labor Statistics. 24 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00024 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In January, prices received by farmers rose 1.5 percent; prices paid by farmers were unchanged. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers All farm products Livestock and products Crops All commodities, services, interest, taxes, and wage rates 1 Production items, interest, taxes, and wage rates Production items Ratio 2 1999 ............................... 2000 .............................. 2001 .............................. 2002 .............................. 2003 .............................. 2004 r ............................. 2005 r ............................. 2006 r ............................. 2007 r ............................. 2008 r ............................. 96 96 102 98 106 118 115 115 136 149 97 96 99 105 110 115 110 120 143 168 95 97 106 90 103 122 120 111 130 130 115 119 123 124 128 134 142 150 160 181 113 117 121 121 125 133 142 150 161 185 111 115 120 119 124 132 140 148 160 187 83 81 83 79 84 88 81 77 85 82 2008: Jan r ................... Feb r ................... Mar r ................... Apr r ................... May r .................. June r ................. July r .................. Aug r ................... Sept r .................. Oct r .................... Nov r ................... Dec r ................... 144 146 146 146 152 158 159 156 154 150 141 135 158 164 167 169 173 183 182 177 174 167 156 149 129 131 129 127 134 137 138 137 133 127 124 119 169 171 174 179 183 187 190 190 189 184 179 175 172 174 178 183 188 192 195 196 194 190 184 179 170 173 177 185 190 195 200 200 198 192 185 179 85 85 84 82 83 84 84 82 81 82 79 77 2009: Jan p ................... 137 157 115 175 179 178 78 1 Includes items not shown separately. 2 Percentage ratio of index of prices received by farmers to index of prices paid, interest, taxes, and wage rates. NOTE.—The official indexes are published on a 1910–14 base as required by law. The indexes have been converted to a 1990–92=100 base to facilitate comparison with other indexes. Source: Department of Agriculture. 25 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00025 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.025 ECOIND G:\GRAPHICS\eecoind.025 sroberts on PROD1PC70 with ECOIND Period Prices paid by farmers MONEY, CREDIT, AND SECURITY MARKETS MONEY STOCK AND DEBT MEASURES In December, M2 rose. [Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted] M1 M2 Sum of currency, demand deposits, travelers checks, and other checkable deposits (OCDs) M1 plus retail MMMF balances, savings deposits (including MMDAs), and small time deposits Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec r ....................................................................................... Dec ........................................................................................ 1,122.6 1,087.6 1,182.3 1,220.4 1,306.8 1,376.4 1,374.2 1,365.6 1,364.5 1,595.8 4,631.7 4,910.7 5,417.8 5,764.6 6,055.2 6,399.8 6,661.5 7,021.5 7,417.3 8,154.1 17,307.7 18,183.6 19,319.3 20,731.6 22,441.4 24,446.7 26,769.4 29,188.3 31,718.2 ............................ 2.4 ¥3.1 8.7 3.2 7.1 5.3 ¥.2 ¥.6 ¥.1 17.0 5.8 6.0 10.3 6.4 5.0 5.7 4.1 5.4 5.6 9.9 6.4 5.0 6.3 7.3 8.1 8.9 9.5 9.0 8.6 ...................... 2008: Jan r ....................................................................................... Feb r ....................................................................................... Mar r ....................................................................................... Apr r ....................................................................................... May r ....................................................................................... June r ..................................................................................... July r ...................................................................................... Aug r ....................................................................................... Sept r ...................................................................................... Oct r ........................................................................................ Nov r ....................................................................................... Dec ........................................................................................ 1,368.4 1,371.1 1,372.9 1,373.7 1,373.7 1,383.6 1,400.1 1,392.2 1,452.1 1,475.2 1,524.1 1,595.8 7,463.6 7,539.0 7,600.5 7,620.0 7,637.8 7,648.5 7,698.8 7,687.1 7,795.9 7,915.8 7,972.5 8,154.1 ............................ ............................ 32,140.0 ............................ ............................ 32,392.4 ............................ ............................ 32,979.5 ............................ ............................ ............................ .3 .4 1.0 .3 1.0 2.8 4.6 3.1 11.5 14.8 21.9 30.7 6.2 6.9 7.6 7.3 6.9 6.2 6.3 3.9 5.1 7.8 8.8 13.2 ...................... ...................... 5.3 ...................... ...................... 3.1 ...................... ...................... 7.2 ...................... ...................... ...................... sroberts on PROD1PC70 with ECOIND 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: 1 Quarterly data; shown in last month of quarter. End-of-year data are for fourth quarter. Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors; data from flow of funds accounts. 2 Annual changes are from December to December and monthly changes are from 6 months earlier at a simple annual rate. 3 Annual changes are from fourth quarter to fourth quarter. Quarterly changes are from previous quarter at an annual rate. Debt of domestic nonfinancial sectors 1 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00026 Fmt 3401 M1 M2 From previous period 3 Debt NOTE.—The Federal Reserve previously announced that the M3 monetary aggregate and most of its components would no longer be published. Institutional money market mutual funds will continue to be published as a memorandum item in the H.6 release, and the component on large-denomination time deposits will be published in other Federal Reserve Board releases. For details, see H.6 release of March 23, 2006. See p. 27 for components. Source: Board of Governors of the Federal Reserve System. 26 VerDate Nov 24 2008 Percent change From year or 6 months earlier 2 Sfmt 3401 E:\HR\OC\ECOIND.026 ECOIND g:\graphics\eecoind.026 Period Debt COMPONENTS OF MONEY STOCK [Averages of daily figures; billions of dollars, seasonally adjusted] Period Currency Nonbank travelers checks Demand deposits Other checkable deposits (OCDs) Savings deposits 1 At commercial banks Total At commercial banks Total At thrift institutions Small-denomination time deposits 2 At thrift institutions Total At commercial banks At thrift institutions Retail money funds Institutional money funds 3 Dec r .... Dec r .... Dec r .... Dec r .... Dec r .... Dec r .... Dec r .... Dec r .... Dec r .... Dec ...... 517.8 531.2 581.2 626.3 662.5 697.5 723.6 748.3 757.6 812.3 8.6 8.3 8.0 7.8 7.7 7.5 7.2 6.7 6.3 5.5 352.9 309.8 335.7 306.8 326.4 343.2 324.6 304.8 292.9 465.7 243.3 238.3 257.4 279.6 310.3 328.2 318.9 305.8 307.8 312.3 139.7 133.1 142.0 154.3 175.3 187.0 180.7 177.2 174.3 178.6 103.7 105.2 115.4 125.3 135.0 141.1 138.1 128.6 133.5 133.7 1,739.4 1,878.2 2,308.8 2,773.9 3,162.7 3,506.4 3,602.3 3,692.7 3,868.7 4,097.0 1,288.4 1,424.2 1,738.2 2,060.2 2,337.9 2,631.1 2,773.9 2,909.7 3,041.3 3,327.7 451.0 454.0 570.7 713.7 824.7 875.3 828.4 783.0 827.3 769.3 956.7 1,047.4 976.1 895.6 818.2 829.2 994.9 1,169.6 1,216.7 1,369.9 636.9 699.9 635.0 590.4 540.9 550.5 643.9 757.8 821.4 1,015.9 319.9 347.5 341.1 305.2 277.3 278.7 351.0 411.7 395.3 354.0 812.9 897.6 950.6 874.7 767.5 687.7 690.1 793.6 967.4 1,091.4 660.8 816.4 1,220.2 1,269.9 1,131.3 1,082.5 1,152.1 1,353.6 1,903.9 2,389.2 2008: Jan r ..... Feb r .... Mar r .... Apr r ..... May r .... June r ... July r .... Aug r .... Sept r ... Oct r ..... Nov r .... Dec ...... 756.6 757.6 760.7 760.1 763.4 769.0 774.5 777.0 781.6 796.6 804.6 812.3 6.2 6.2 6.2 6.1 6.1 6.0 5.9 5.8 5.8 5.7 5.6 5.5 295.3 294.8 294.6 295.1 292.0 294.5 303.8 301.0 350.6 361.1 407.5 465.7 310.3 312.5 311.5 312.3 312.2 314.2 316.0 308.3 314.1 311.8 306.3 312.3 175.1 176.9 176.6 177.1 175.0 176.4 176.8 172.3 176.8 176.1 173.3 178.6 135.2 135.5 134.9 135.3 137.2 137.7 139.2 136.0 137.3 135.7 133.0 133.7 3,885.8 3,921.4 3,975.9 3,981.1 4,010.1 4,021.2 4,033.3 4,006.1 4,032.9 4,033.7 4,012.4 4,097.0 3,050.2 3,081.5 3,120.7 3,122.0 3,126.5 3,123.9 3,131.0 3,116.7 3,171.0 3,250.3 3,245.9 3,327.7 835.6 839.9 855.2 859.1 883.6 897.4 902.3 889.5 861.9 783.4 766.5 769.3 1,221.4 1,222.7 1,213.7 1,210.0 1,208.0 1,207.3 1,218.3 1,242.7 1,258.5 1,312.8 1,347.4 1,369.9 822.3 823.6 818.6 815.5 816.7 820.9 835.9 858.8 878.5 966.3 995.4 1,015.9 399.2 399.1 395.2 394.5 391.4 386.4 382.4 383.9 380.0 346.5 352.0 354.0 988.0 1,023.8 1,037.9 1,055.2 1,046.0 1,036.3 1,047.1 1,046.0 1,052.4 1,094.2 1,088.5 1,091.4 1,940.6 2,064.8 2,133.8 2,180.1 2,216.8 2,248.3 2,265.0 2,286.6 2,251.1 2,231.1 2,325.8 2,389.2 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: 1 Savings deposits including money market deposit accounts (MMDAs). deposits are those issued in amounts of less than $100,000. money funds are not part of non-M1 M2. NOTE.—See Note, p. 26. Source: Board of Governors of the Federal Reserve System. 2 Small-denomination 3 Institutional AGGREGATE RESERVES AND MONETARY BASE [Averages of daily figures 1; millions of dollars; seasonally adjusted, except as noted by NSA] Adjusted for changes in reserve requirements Borrowings from the Federal Reserve (NSA) Other borrowings from the Federal Reserve Reserves of depository institutions Period Total 2 sroberts on PROD1PC70 with ECOIND 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Nonborrowed 3 Required Excess (NSA) Monetary base Total 4 Term auction credit Primary Primary dealer and other brokerdealer credit 5 Assetbacked commerical paper money market mutual fund liquidity facility Credit extended to American International Group, Inc. Adjustment 6 ........ ........ ........ ........ ........ ........ ........ ........ ........ ........ 42,183 38,717 41,442 40,400 42,757 46,552 45,139 43,338 42,674 820,942 41,862 38,507 41,376 40,320 42,711 46,489 44,970 43,147 27,244 167,377 40,889 37,391 39,799 38,392 41,710 44,643 43,238 41,475 40,905 53,530 1,294 1,325 1,643 2,008 1,047 1,909 1,901 1,863 1,769 767,412 593,842 584,929 635,559 681,631 720,402 759,072 786,976 811,126 822,357 1,651,203 320 210 67 80 46 63 169 191 15,430 653,565 .............. .............. .............. .............. .............. .............. .............. .............. 11,613 438,327 .............. .............. .............. .............. 17 11 97 111 3,787 88,245 .............. .............. .............. .............. .............. .............. .............. .............. .............. 47,631 .................. .................. .................. .................. .................. .................. .................. .................. .................. 32,102 .............. .............. .............. .............. .............. .............. .............. .............. .............. 47,206 179 99 34 35 .............. .............. .............. .............. .............. .............. 2008: Jan r ........ Feb r ........ Mar r ....... Apr r ........ May r ....... June r ...... July r ....... Aug r ....... Sept r ....... Oct r ........ Nov r ........ Dec r ........ 42,150 42,826 44,299 43,561 44,128 43,364 43,330 44,559 102,784 315,516 609,937 820,942 ¥3,510 ¥17,331 ¥50,224 ¥91,848 ¥111,652 ¥127,914 ¥122,334 ¥123,520 ¥187,321 ¥332,803 ¥88,849 167,377 40,509 41,100 41,321 41,716 42,115 41,089 41,353 42,568 42,733 47,612 50,883 53,530 1,640 1,726 2,978 1,846 2,013 2,275 1,977 1,991 60,051 267,904 559,053 767,412 820,174 821,355 825,910 824,631 827,170 832,490 838,062 842,815 905,174 1,130,304 1,433,490 1,651,203 45,660 60,157 94,523 135,410 155,780 171,278 165,664 168,078 290,105 648,319 698,786 653,565 44,516 60,000 75,484 100,000 127,419 150,000 150,000 150,000 149,814 244,778 393,088 438,327 1,137 155 1,617 9,624 14,076 14,225 15,204 17,980 32,632 94,017 95,839 88,245 .............. .............. 16,168 25,764 14,238 6,908 255 0 53,473 114,953 60,655 47,631 .................. .................. .................. .................. .................. .................. .................. .................. 31,877 117,457 71,009 32,102 .............. .............. .............. .............. .............. .............. .............. .............. 22,187 77,047 78,070 47,206 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 1 Data are prorated averages of biweekly (maintenance period) averages of daily figures. Reserves and monetary base incorporate adjustments for discontinuities, or ‘‘breaks,’’ associated with changes in reserve requirements. 2 Seasonally adjusted break-adjusted required reserves plus unadjusted excess reserves. 3 Seasonally adjusted break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. 4 Includes secondary and seasonal, and other credit extensions, not shown separately. 5 Includes credit extended through the Primary Dealer Credit Facility and credit extended to other broker-dealers. 6 Discontinued after January 8, 2003. Source: Board of Governors of the Federal Reserve System. 27 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00027 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.027 ECOIND BANK CREDIT AT ALL COMMERCIAL BANKS Total commercial bank loans and leases fell 0.4 percent in December; commercial and industrial loans fell 1.3 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit sroberts on PROD1PC70 with ECOIND 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: 2008: Dec ........... Dec ........... Dec ........... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Jan r .......... Feb r .......... Mar r ......... Apr r .......... May r ......... June r ........ July r ......... Aug r ......... Sept r ......... Oct r .......... Nov r ......... Dec r .......... Total bank credit 4,743.1 5,204.7 5,414.9 5,891.4 6,257.0 6,807.7 7,527.9 8,353.5 9,204.6 9,927.9 9,276.2 9,331.9 9,455.3 9,415.5 9,424.1 9,409.8 9,441.4 9,458.5 9,613.0 9,992.6 9,921.8 9,927.9 Total securities 1,268.8 1,337.3 1,482.9 1,720.7 1,852.0 1,947.3 2,067.1 2,247.3 2,424.3 2,766.0 2,436.9 2,454.0 2,540.4 2,513.5 2,487.0 2,481.8 2,506.1 2,492.1 2,545.7 2,726.3 2,730.6 2,766.0 810.4 790.6 852.1 1,035.4 1,109.3 1,166.8 1,159.4 1,210.9 1,128.2 1,256.0 1,106.4 1,097.5 1,109.3 1,098.6 1,102.1 1,120.4 1,122.1 1,134.1 1,158.9 1,231.4 1,265.4 1,256.0 Loans and leases in bank credit 458.4 546.7 630.8 685.3 742.7 780.5 907.7 1,036.4 1,296.1 1,509.9 1,330.5 1,356.5 1,431.1 1,415.0 1,384.9 1,361.4 1,384.0 1,358.0 1,386.8 1,494.9 1,465.2 1,509.9 3,474.4 3,867.4 3,932.0 4,170.8 4,405.0 4,860.4 5,460.8 6,106.2 6,780.3 7,162.0 6,839.2 6,877.9 6,914.9 6,901.9 6,937.1 6,928.0 6,935.3 6,966.4 7,067.3 7,266.3 7,191.3 7,162.0 1 Data are prorated averages of Wednesday values for domestically chartered commercial banks, branches and agencies of foreign banks, New York State investment companies (through September 1996), and Edge Act and agreement corporations. Data are adjusted for breaks caused by reclassifications of assets and liabilities. 2 Includes other trading assets. Real estate Commercial and industrial Total loans and leases 3 Other securities 2 Total 4 990.9 1,079.1 1,018.7 955.9 896.4 918.8 1,036.4 1,188.2 1,432.6 1,584.4 1,448.0 1,456.0 1,476.8 1,489.7 1,499.2 1,509.0 1,516.9 1,518.9 1,547.0 1,610.7 1,605.3 1,584.4 1,471.9 1,655.9 1,786.1 2,033.8 2,229.7 2,566.1 2,928.4 3,357.6 3,579.0 3,787.2 3,595.7 3,623.2 3,650.3 3,657.5 3,664.1 3,658.6 3,638.7 3,657.4 3,675.0 3,799.4 3,790.3 3,787.2 Revolving home equity 101.1 129.7 155.4 213.1 280.5 398.1 444.0 467.8 483.5 587.1 487.3 492.9 499.3 507.3 512.7 519.1 524.3 527.0 540.9 578.3 580.8 587.1 Commercial 648.0 742.2 813.6 884.5 961.1 1,082.8 1,274.2 1,452.9 1,603.1 1,731.3 1,614.7 1,628.1 1,643.4 1,655.8 1,668.7 1,687.3 1,676.0 1,682.2 1,686.2 1,721.9 1,726.9 1,731.3 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00028 Fmt 3401 491.5 539.8 556.2 585.9 642.2 696.7 707.6 743.5 809.2 881.9 813.0 814.5 817.8 823.5 827.6 832.4 840.2 846.1 852.9 871.3 876.5 881.9 Security 5 139.6 161.0 135.0 173.7 198.0 197.3 245.5 268.5 287.4 248.3 301.2 295.9 292.2 284.6 296.1 286.1 301.1 311.5 336.0 306.2 271.5 248.3 Other 380.4 431.6 436.0 421.5 438.7 481.6 542.9 548.4 672.0 660.3 681.3 688.4 677.8 646.7 650.1 641.9 638.3 632.5 656.4 678.7 647.6 660.3 3 Excludes unearned income. Includes the allowance for loan and lease losses. Excludes Federal funds sold to, reverse repurchase agreements (RPs) with, and loans to commercial banks in the United States. 4 Includes other residential, not shown separately. 5 Includes other items, not shown separately. Source: Board of Governors of the Federal Reserve System. 28 VerDate Nov 24 2008 Consumer 5 Sfmt 3401 E:\HR\OC\ECOIND.028 ECOIND g:\graphics\eecoind.028 Period U.S. Treasury and agency securities SOURCES AND USES OF FUNDS, NONFARM NONFINANCIAL CORPORATE BUSINESS [Billions of dollars; quarterly data at seasonally adjusted annual rates] Sources Uses External (Net increase in liabilities) Funds raised in markets Period Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2006: ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ I ........... II ......... III ........ IV ........ 2007: I ........... II ......... III ........ IV ........ 2008: I ........... II ......... III p ...... 1,298.1 1,718.6 1,955.4 850.2 896.2 844.7 1,537.5 2,026.3 2,027.9 2,013.2 1,932.8 2,232.0 1,940.2 2,006.5 1,886.9 1,940.0 2,341.2 1,884.9 1,839.6 1,580.5 1,286.7 Internal 1 682.1 731.0 718.0 755.0 811.3 831.3 928.5 1,065.1 1,086.0 1,047.0 1,094.3 1,091.2 1,117.2 1,041.2 1,028.8 1,032.7 1,065.0 1,061.7 1,041.2 1,008.5 1,087.0 Credit market instruments Total 616.0 987.6 1,237.4 95.2 84.9 13.4 609.0 961.2 941.9 966.2 838.5 1,140.8 823.0 965.3 858.1 907.3 1,276.2 823.2 798.4 572.0 199.7 Capital expenditures 3 Total Total net funds raised Net new equity issues 167.5 273.2 243.7 164.6 ¥18.5 46.2 79.5 ¥28.3 ¥133.3 ¥41.8 ¥121.3 ¥111.4 ¥251.3 ¥48.9 92.3 51.4 7.5 ¥318.3 ¥94.6 118.8 ¥153.0 ¥215.5 ¥110.4 ¥118.2 ¥48.1 ¥41.4 ¥41.1 ¥124.4 ¥360.7 ¥602.7 ¥831.2 ¥566.1 ¥578.0 ¥524.1 ¥742.5 ¥566.7 ¥799.1 ¥864.9 ¥1,093.9 ¥500.0 ¥268.3 ¥413.6 Total Securities and mortgages 383.1 383.6 361.9 212.7 22.9 87.3 204.0 332.4 469.4 789.4 444.8 466.6 272.8 693.6 659.1 850.5 872.4 775.6 405.4 387.1 260.6 1 Profits before tax (book) less taxes on corporate income, less net dividends, plus capital consumption allowance (consumption of fixed capital plus capital consumption adjustment), foreign earnings retained abroad, inventory valuation adjustment, and net capital transfers. 2 Includes trade payables, taxes payable, and miscellaneous liabilities (foreign direct investment in the U.S., pension fund contributions payable, and other). 221.9 273.6 187.3 399.6 167.1 217.0 134.7 266.3 314.1 419.4 329.7 290.5 246.5 389.6 409.7 511.7 342.0 414.1 236.3 380.4 61.9 Loans and shortterm paper Other 2 161.3 110.1 174.6 ¥187.0 ¥144.2 ¥129.7 69.2 66.2 155.4 370.0 115.1 176.0 26.3 303.9 249.4 338.8 530.4 361.7 169.1 6.7 198.7 448.4 714.4 993.7 ¥69.3 103.3 ¥32.8 529.6 989.5 1,075.1 1,008.0 959.9 1,252.2 1,074.3 1,014.2 765.8 855.9 1,268.7 1,141.4 893.0 453.2 352.8 1,348.4 1,833.8 2,137.7 980.2 867.2 832.5 1,608.8 1,879.8 1,930.5 2,141.5 1,873.8 2,138.3 1,889.7 1,820.1 1,968.9 2,136.0 2,541.7 1,919.0 1,905.3 1,436.5 1,063.9 778.5 863.9 928.5 802.6 737.1 749.9 825.7 922.0 1,059.4 1,047.3 1,013.3 1,063.6 1,076.3 1,084.3 1,009.2 1,044.0 1,083.8 1,052.0 1,066.7 1,120.6 1,071.4 Increase in financial assets 569.9 969.9 1,209.2 177.6 130.1 82.6 783.1 957.8 871.1 1,094.2 860.5 1,074.7 813.4 735.8 959.7 1,092.0 1,457.9 867.0 838.6 315.9 ¥7.5 Discrepancy (sources less uses) ¥50.4 ¥115.2 ¥182.4 ¥130.0 28.9 12.1 ¥71.3 146.5 97.4 ¥128.2 59.0 93.7 50.6 186.4 ¥82.0 ¥196.0 ¥200.6 ¥34.2 ¥65.7 144.0 222.8 3 Nonresidential fixed investment plus residential fixed investment, inventory change with inventory valuation adjustment, and nonproduced nonfinancial assets. Source: Board of Governors of the Federal Reserve System. CONSUMER CREDIT [Billions of dollars; seasonally adjusted] Consumer credit outstanding (end of period) Period Total sroberts on PROD1PC70 with ECOIND 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Revolving Nonrevolving 2 Net change in consumer credit outstanding 1 Total Revolving Nonrevolving 2 Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec p ............................................................................. 1,532.4 1,717.7 1,867.3 1,974.3 2,078.3 2,191.6 2,285.2 2,387.7 2,519.0 2,562.3 610.7 683.7 716.6 748.8 770.4 799.8 824.5 874.6 939.5 963.5 921.7 1,034.0 1,150.7 1,225.5 1,307.9 1,391.8 1,460.7 1,513.1 1,579.5 1,598.7 111.4 185.3 149.6 107.0 104.0 113.3 93.6 102.5 131.3 43.3 29.3 73.0 32.9 32.2 21.6 29.4 24.7 50.1 64.9 24.0 82.1 112.3 116.7 74.8 82.4 83.9 68.9 52.4 66.4 19.2 2008: Jan ............................................................................... Feb ............................................................................... Mar r ............................................................................. Apr r .............................................................................. May r ............................................................................. June r ............................................................................ July r ............................................................................. Aug r ............................................................................. Sept r ............................................................................. Oct r .............................................................................. Nov r ............................................................................. Dec p ............................................................................. 2,526.0 2,536.9 2,549.0 2,558.8 2,565.5 2,574.1 2,581.6 2,575.2 2,582.1 2,579.9 2,568.9 2,562.3 945.8 951.4 957.3 957.3 963.0 965.8 972.0 974.1 976.7 976.8 969.9 963.5 1,580.3 1,585.5 1,591.7 1,601.5 1,602.5 1,608.3 1,609.6 1,601.1 1,605.4 1,603.2 1,599.0 1,598.7 7.0 10.9 12.1 9.8 6.7 8.6 7.5 ¥6.4 6.9 ¥2.2 ¥11.0 ¥6.6 6.3 5.6 5.9 .0 5.7 2.8 6.2 2.1 2.6 .1 ¥6.9 ¥6.4 .8 5.2 6.2 9.8 1.0 5.8 1.3 ¥8.5 4.3 ¥2.2 ¥4.2 ¥.3 1 Change based on data in billions of dollars as shown here. For year-end data, change from preceding year-end; for monthly data, change from preceding month. 2 Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured. NOTE.—Effective October 7, 2003 data beginning 1977 include student loans extended by the Federal Government and by SLM Holding Corporation. Source: Board of Governors of the Federal Reserve System. 29 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Interest rates were mixed in January. [Percent per annum] Constant Period 3-month bills (at auction) 1 sroberts on PROD1PC70 with ECOIND 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2008 ....................... 2008: Jan .............. Feb .............. Mar ............. Apr ............. May ............ June ........... July ............ Aug ............. Sept ............ Oct .............. Nov ............. Dec ............. 2009: Jan .............. Week ended: 2009: Jan 10 ........ 17 ........ 24 ........ 31 ........ Feb 7 ........ 3-year maturities 2 10-year 30-year Highgrade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.35 2.24 2.51 2.19 1.80 2.23 2.69 3.08 2.87 2.70 2.32 1.86 1.51 1.07 1.13 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.63 3.66 3.74 3.74 3.51 3.68 3.88 4.10 4.01 3.89 3.69 3.81 3.53 2.42 2.52 5.87 5.94 5.49 * * * * 4.91 4.84 4.28 4.33 4.52 4.39 4.44 4.60 4.69 4.57 4.50 4.27 4.17 4.00 2.87 3.13 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.42 4.80 4.00 4.35 4.67 4.43 4.34 4.48 4.88 4.90 5.03 5.68 5.28 5.53 5.13 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.56 5.64 5.33 5.53 5.51 5.55 5.57 5.68 5.67 5.64 5.65 6.28 6.15 5.08 5.05 .............. .............. .............. .............. 2.12 2.34 4.19 5.96 5.86 2.39 3.50 3.50 2.50 2.25 2.25 2.25 2.25 2.25 2.25 1.25 1.25 0.50 .50 .15 .12 .14 .15 .27 1.12 1.05 1.11 1.25 1.38 2.48 2.30 2.56 2.75 2.92 3.03 2.93 3.17 3.45 3.62 5.19 4.88 5.17 5.26 5.05 5.04 4.89 5.10 5.23 5.29 .50 .50 .50 .50 .50 30 23:29 Feb 10, 2009 Primary credit 4.66 5.85 3.44 1.62 1.01 1.38 3.16 4.73 4.41 1.48 2.86 2.21 1.38 1.32 1.71 1.89 1.72 1.79 1.46 .84 .30 .04 .12 1 High bill rate at auction, issue date within period, bank-discount basis. Data are stop yields from uniform-price auctions. 2 Yields on actively traded issues adjusted to constant maturities. 3 Weekly data are Wednesday figures. 4 Discount window borrowing for primary credit and discount rate (adjustment credit). The rate for primary credit replaced the rate for adjustment credit. 5 Average effective rate for year; rate in effect at end of month or week. VerDate Nov 24 2008 Discount window (N.Y. F.R. Bank) 4 5 Jkt 047158 PO 00000 Frm 00030 Fmt 3401 Discount rate Prime rate charged by banks 5 4.62 5.73 3.40 1.17 Federal funds rate 6 Newhome mortgage yields (FHFB) 7 * * * * * * * * * * * * * * * * * * * 8.00 9.23 6.91 4.67 4.12 4.34 6.19 7.96 8.05 5.09 6.00 6.00 5.25 5.00 5.00 5.00 5.00 5.00 5.00 4.00 4.00 3.25 3.25 4.97 6.24 3.88 1.67 1.13 1.35 3.22 4.97 5.02 1.92 3.94 2.98 2.61 2.28 1.98 2.00 2.01 2.00 1.81 .97 .39 .16 .15 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.41 p6.06 6.02 5.96 5.92 5.98 6.01 6.13 6.29 6.33 6.09 6.10 6.16 5.67 .............. * * * * * 3.25 3.25 3.25 3.25 3.25 .10 .10 .20 .19 .23 .............. .............. .............. .............. .............. 6 Daily effective rate; weighted average of rates on brokered trades. 7 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and assumed, on the average, repayment at end of 10 years. * Discount rate (adjustment credit) series was discontinued after January 8, 2003. Series for 30-year constant maturity was discontinued on February 18, 2002, and reintroduced on February 9, 2006. Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Board, Moody’s Investors Service, and Standard & Poor’s. Sfmt 3401 E:\HR\OC\ECOIND.030 ECOIND g:\graphics\eecoind.030 U.S. Treasury security yields COMMON STOCK PRICES AND YIELDS Stock prices were mixed in January. Common stock prices 1 New York Stock Exchange indexes 2 3 (December 31, 2002=5,000) Nasdaq composite index (Feb. 5, 1971=100) 6 Dividendprice ratio Earningsprice ratio Composite Financial Energy Health Care ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... 6,546.81 6,805.89 6,397.85 5,578.89 5,447.46 6,612.62 7,349.00 8,357.99 9,648.82 8,036.88 ................ ................ ................ ................ 5,583.00 6,822.18 7,383.70 8,654.40 9,321.39 6,278.38 .................. .................. .................. .................. 5,273.90 6,952.36 9,377.84 11,206.94 13,339.99 13,258.42 ................ ................ ................ ................ 5,288.67 5,924.80 6,283.96 6,685.06 7,191.79 6,171.19 10,464.88 10,734.90 10,189.13 9,226.43 8,993.59 10,317.39 10,547.67 11,408.67 13,169.98 11,252.62 1,327.33 1,427.22 1,194.18 993.94 965.23 1,130.65 1,207.23 1,310.46 1,477.19 1,220.04 2,728.15 3,783.67 2,035.00 1,539.73 1,647.17 1,986.53 2,099.32 2,263.41 2,578.47 2,161.65 1.25 1.15 1.32 1.61 1.77 1.72 1.83 1.87 1.86 2.37 3.17 3.63 2.95 2.92 3.84 4.89 5.36 5.78 5.29 .................. 2008: Jan .............................................. Feb ............................................... Mar .............................................. Apr .............................................. May ............................................. June ............................................ July ............................................. Aug .............................................. Sept ............................................. Oct ............................................... Nov .............................................. Dec .............................................. 9,165.10 9,041.52 8,776.21 9,174.10 9,429.04 8,996.98 8,427.37 8,362.20 7,886.29 6,130.39 5,527.63 5,525.70 7,776.77 7,577.54 7,155.51 7,579.73 7,593.63 6,798.20 6,207.89 6,304.58 6,159.18 4,733.74 3,779.86 3,673.95 14,222.14 13,931.92 14,000.91 15,159.35 16,365.23 16,272.67 14,899.86 13,772.04 12,562.82 9,515.71 9,262.07 9,136.33 7,068.98 6,674.75 6,318.44 6,381.98 6,405.40 6,243.42 6,412.48 6,618.92 6,316.05 5,434.03 5,088.99 5,090.83 12,538.12 12,419.57 12,193.88 12,656.63 12,812.48 12,056.67 11,322.38 11,530.75 11,114.08 9,176.71 8,614.55 8,595.56 1,378.76 1,354.87 1,316.94 1,370.47 1,403.22 1,341.25 1,257.33 1,281.47 1,217.01 968.80 883.04 877.56 2,418.09 2,325.83 2,254.82 2,368.10 2,483.24 2,427.45 2,278.14 2,389.27 2,205.20 1,730.32 1,542.70 1,525.89 2.06 2.10 2.17 2.09 2.07 2.15 2.27 2.23 2.36 2.83 3.11 3.00 .................. .................. 4.57 .................. .................. 4.01 .................. .................. 3.94 .................. .................. .................. 2009: Jan ............................................... 5,477.14 3,337.14 9,295.97 5,256.13 8,396.20 865.58 1,537.20 3.01 .................. Week ended: 2009: Jan 10 17 24 31 Feb 7 5,843.17 5,430.76 5,174.82 5,311.64 5,295.71 3,811.08 3,368.39 2,885.56 3,080.21 3,054.50 9,838.48 9,110.01 8,844.91 9,187.14 9,205.12 5,338.65 5,232.08 5,171.78 5,231.89 5,288.59 8,815.87 8,323.28 8,094.39 8,163.22 8,063.10 913.78 855.71 826.23 845.48 842.13 1,613.61 1,523.21 1,472.68 1,507.39 1,532.75 2.93 3.05 3.18 2.86 3.00 .................. .................. .................. .................. .................. 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 .......................................... .......................................... .......................................... .......................................... .......................................... 1 Average sroberts on PROD1PC70 with ECOIND Dow Jones industrial average 4 of daily closing prices. all the stocks (nearly 1,850) listed on the NYSE. January 9, 2003, the NYSE relaunched the composite index with changes in methodology, definitions, and based on Dec. 31, 2002=5,000. Effective January 8, 2004 new indexes for Financial, Energy, and Health Care were introduced by the NYSE. Previous indexes shown for Industrial, Transportation, Utility, and Finance were discontinued. 4 Includes 30 stocks. 2 Includes 3 Effective 5 Includes 500 stocks. about 3,000 stocks. & Poor’s series. Dividend-price ratios based on Wednesday closing prices. Earnings-price ratios based on prices at end of quarter. 6 Includes 7 Standard Sources: New York Stock Exchange, Dow Jones & Company, Inc., Standard & Poor’s, and Nasdaq Stock Market. 31 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00031 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.031 ECOIND g:\graphics\eecoind.031 Period Common stock yields (percent) 7 Standard & Poor’s composite index (1941– 43=10) 5 FEDERAL FINANCE FEDERAL RECEIPTS, OUTLAYS, AND DEBT In the third month of fiscal 2009, there was a deficit of $485.2 billion, compared with a deficit of $106.8 billion a year earlier. [Billions of dollars] Off-budget Outlays Surplus or deficit (¥) Receipts 1992 ...................................... 1993 ...................................... 1994 ...................................... 1995 ...................................... 1996 ...................................... 1997 ...................................... 1998 ...................................... 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ....................................... 2006 ...................................... 2007 ...................................... 2008 1 .................................... 2009 (estimates) ................... 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,568.2 2,523.9 2,651.4 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.2 2,978.7 3,133.2 ¥290.3 ¥255.1 ¥203.2 ¥164.0 ¥107.4 ¥21.9 69.3 125.6 236.2 128.2 ¥157.8 ¥377.6 ¥412.7 ¥318.3 ¥248.2 ¥162.0 ¥454.8 ¥481.8 788.9 842.5 923.7 1,000.9 1,085.7 1,187.4 1,306.2 1,383.2 1,544.9 1,483.9 1,338.1 1,258.7 1,345.5 1,576.4 1,798.9 1,933.2 1,865.8 1,969.0 1,129.3 1,142.9 1,182.5 1,227.2 1,259.7 1,290.7 1,336.1 1,381.3 1,458.5 1,516.4 1,655.5 1,797.1 1,913.5 2,070.0 2,233.4 2,276.6 2,503.9 2,631.7 ¥340.4 ¥300.4 ¥258.8 ¥226.4 ¥174.0 ¥103.2 ¥29.9 1.9 86.4 ¥32.4 ¥317.4 ¥538.4 ¥568.0 ¥493.6 ¥434.5 ¥343.5 ¥638.1 ¥662.7 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 635.1 658.0 682.4 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 453.6 474.8 501.5 50.1 4,001.8 45.3 4,351.0 55.7 4,643.3 62.4 4,920.6 66.6 5,181.5 81.4 5,369.2 99.2 5,478.2 123.7 5,605.5 149.8 5,628.7 160.7 5,769.9 159.7 6,198.4 160.8 6,760.0 155.2 7,354.7 175.3 7,905.3 186.3 8,451.4 181.5 8,950.7 183.3 9,983.7 180.9 10,438.4 2,999.7 3,248.4 3,433.1 3,604.4 3,734.1 3,772.3 3,721.1 3,632.4 3,409.8 3,319.6 3,540.4 3,913.4 4,295.5 4,592.2 4,829.0 5,035.1 5,800.6 5,958.2 Cumulative total, first 3 months: 2 Fiscal year 2008 ................... Fiscal year 2009 ................... 606.2 547.4 713.0 1,032.6 ¥106.8 ¥485.2 463.0 403.4 628.8 941.2 ¥165.8 ¥537.8 143.2 144.0 84.3 91.5 59.0 9,172.8 52.6 10,660.4 5,122.3 6,361.5 1 Data 2 Data from Final Monthly Treasury Statement for fiscal 2008 released on October 14, 2008. from current issue Monthly Treasury Statement. Outlays Surplus or deficit (¥) Federal debt (end of period) Receipts Fiscal year or period sroberts on PROD1PC70 with ECOIND On-budget Receipts Outlays 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00032 Fmt 3401 Gross Federal Held by the public NOTE.—Data for fiscal 2009 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2009, issued July 28, 2008. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2009, issued February 4, 2008. Sources: Department of the Treasury and Office of Management and Budget. 32 VerDate Nov 24 2008 Surplus or deficit (¥) Sfmt 3401 E:\HR\OC\ECOIND.032 ECOIND g:\graphics\eecoind.032 Total FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In the third month of fiscal 2009, receipts were $58.8 billion lower than a year earlier and outlays were $319.6 billion higher. [Billions of dollars] On-budget and off-budget receipts Total sroberts on PROD1PC70 with ECOIND 1992 1993 1994 1995 1996 1997 1998 1999 Individual income taxes Corporation income taxes On-budget and off-budget outlays National defense Other Department of Defense, military Total Total International affairs Health Medicare Income Social security security Net interest Other ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7 413.7 428.3 461.5 484.5 509.4 539.4 571.8 611.8 101.4 99.0 113.8 120.2 115.5 120.3 132.9 151.7 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 298.4 291.1 281.6 272.1 265.8 270.5 268.2 274.8 286.8 278.5 268.6 259.4 253.1 258.3 255.8 261.2 16.1 17.2 17.1 16.4 13.5 15.2 13.1 15.2 89.5 99.4 107.1 115.4 119.4 123.8 131.4 141.1 119.0 130.6 144.7 159.9 174.2 190.0 192.8 190.4 199.6 210.0 217.2 223.8 229.7 235.0 237.8 242.5 287.6 304.6 319.6 335.8 349.7 365.3 379.2 390.0 199.3 198.7 202.9 232.1 241.1 244.0 241.1 229.8 172.2 158.0 171.7 160.3 167.3 157.4 189.0 218.2 2000 ............................................ 2001 ............................................ 2002 ............................................ 2003 ............................................ 2004 ............................................ 2005 ............................................ 2006 ............................................ 2007 ............................................ 20081 ........................................... 2009 (estimates) ......................... 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,568.2 2,523.9 2,651.4 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,163.5 1,145.7 1,250.4 207.3 151.1 148.0 131.8 189.4 278.3 353.9 370.2 304.3 304.1 652.9 694.0 700.8 713.0 733.4 794.1 837.8 869.6 900.4 931.5 160.9 152.0 146.2 144.1 148.5 154.2 171.6 164.9 173.4 165.5 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.2 2,978.7 3,133.2 294.4 304.8 348.5 404.8 455.8 495.3 521.8 552.6 624.1 682.1 281.1 290.2 331.9 387.2 436.5 474.1 499.3 529.8 594.7 656.7 17.2 16.5 22.4 21.2 26.9 34.6 29.5 28.5 28.8 39.9 154.5 172.3 196.5 219.6 240.1 250.6 252.8 266.4 280.6 301.4 197.1 217.4 230.9 249.4 269.4 298.6 329.9 375.4 390.8 411.9 253.7 269.8 312.7 334.6 333.1 345.8 352.5 366.0 432.7 431.3 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.2 617.0 656.1 222.9 206.2 170.9 153.1 160.2 184.0 226.6 237.1 248.9 228.0 239.9 243.4 273.3 302.7 311.9 339.9 393.8 318.1 355.7 382.5 Cumulative total, first 3 months: 2 Fiscal year 2008 ......................... Fiscal year 2009 ......................... 606.2 547.4 273.7 255.3 92.5 50.4 198.1 200.0 41.9 713.0 41.8 1,032.6 163.8 180.1 156.4 172.2 5.2 10.2 69.0 73.6 90.8 102.8 86.7 102.4 148.9 157.0 62.1 54.7 86.4 351.8 1 Data from Final Monthly Treasury Statement for fiscal 2008 released on October 14, 2008. 2 Data from current issue Monthly Treasury Statement. Data for Department of Defense, military, include a small amount classified as international affairs, and not included in national defense. NOTE.—Data for fiscal 2009 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2009, issued July 28, 2008. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2009, issued February 4, 2008. Sources: Department of the Treasury and Office of Management and Budget. 33 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00033 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.033 ECOIND g:\graphics\eecoind.033 Fiscal year or period Social insurance and retirement receipts FEDERAL SECTOR, NATIONAL INCOME ACCOUNTS BASIS In the fourth quarter of 2008, according to advance estimates, Federal current expenditures fell $32.6 billion (annual rate), receipts data are incomplete. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Total 1 Personal current taxes 1,195.7 1,313.6 1,252.2 1,075.5 1,070.8 1,152.3 1,383.0 1,550.2 1,644.5 .............. 1,338.8 1,369.2 1,375.8 1,448.0 1,504.7 1,535.1 1,570.9 1,590.2 1,615.2 1,648.2 1,654.4 1,660.0 1,634.9 1,436.0 1,563.0 .............. 893.0 999.1 994.5 830.5 774.5 797.4 930.7 1,049.9 1,167.3 1,129.3 894.9 917.8 944.2 965.8 1,018.8 1,031.6 1,056.0 1,093.2 1,139.5 1,157.1 1,178.1 1,194.7 1,201.2 999.8 1,139.7 1,176.4 Total Calendar year: 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2007 ................ 2008 p ............... 2005: I ............... II ............. III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I ............... II ............. III ............ IV ............ 2008: I ............... II ............. III ............ IV p ........... 1 Includes sroberts on PROD1PC70 with ECOIND 2 Includes 1,891.2 2,053.8 2,016.2 1,853.2 1,879.9 2,008.9 2,266.9 2,510.4 2,651.2 .............. 2,225.7 2,264.1 2,214.5 2,363.3 2,453.6 2,487.6 2,531.9 2,568.6 2,612.8 2,648.1 2,664.9 2,679.2 2,672.5 2,478.8 2,592.1 .............. Taxes on production and imports 83.9 87.8 85.8 87.3 89.7 94.6 99.2 98.0 97.7 96.6 97.1 101.2 100.0 98.5 97.8 98.2 98.6 97.4 97.7 96.9 98.2 98.0 95.8 96.9 94.7 99.1 Taxes on corporate income 213.0 219.4 164.7 150.5 197.8 250.3 341.0 388.9 365.4 .............. 335.4 339.8 318.0 370.6 377.3 394.4 404.6 379.5 365.6 381.5 365.1 349.5 322.5 324.4 313.4 .............. 651.6 691.7 717.5 734.3 758.9 805.2 850.0 902.4 942.3 971.5 835.0 842.5 857.0 865.7 893.6 895.7 902.6 917.7 937.1 936.4 943.3 952.3 968.9 971.8 974.5 970.6 Federal Government current expenditures Income receipts on assets Current transfer receipts Current surplus of government enterprises 21.5 25.2 24.9 20.2 22.9 23.8 24.0 25.7 29.2 32.0 24.1 25.0 23.8 23.1 23.7 24.9 26.0 28.2 28.4 29.0 29.8 29.5 29.9 31.7 32.4 33.9 22.7 25.7 27.1 24.8 25.0 28.8 15.0 35.7 37.5 39.3 31.0 31.8 ¥35.8 32.8 34.7 35.5 36.0 36.5 37.0 37.2 37.6 38.2 39.4 40.0 22.4 55.6 ¥0.3 ¥2.3 ¥5.5 ¥1.6 2.3 ¥1.2 ¥5.0 ¥3.6 ¥2.2 ¥.5 ¥3.2 ¥4.4 ¥6.4 ¥6.2 ¥3.1 ¥3.5 ¥3.6 ¥4.0 ¥5.1 ¥2.8 ¥.2 ¥.8 ¥.5 ¥.6 ¥.1 ¥.7 taxes from the rest of the world, not shown separately. a subtraction for wage accruals less disbursements, not shown separately. Total 2 1,787.6 1,864.4 1,969.5 2,101.1 2,252.1 2,379.5 2,558.6 2,711.6 2,880.5 3,094.7 2,504.4 2,533.6 2,579.2 2,617.1 2,661.5 2,712.5 2,750.4 2,721.8 2,837.9 2,859.5 2,909.2 2,915.6 3,003.2 3,128.4 3,139.8 3,107.2 Consumption expenditures 475.1 499.3 531.9 591.5 662.7 723.7 766.3 811.8 856.1 931.1 758.2 760.3 782.1 764.5 805.9 809.2 816.2 816.0 832.5 851.1 869.1 871.6 898.0 918.2 954.2 954.1 Current transfer payments 986.1 1,038.1 1,131.4 1,243.0 1,328.7 1,390.6 1,478.0 1,568.1 1,666.7 1,807.6 1,458.7 1,461.7 1,483.0 1,508.7 1,535.4 1,566.5 1,584.6 1,586.0 1,650.2 1,652.6 1,671.4 1,692.5 1,729.2 1,860.1 1,794.9 1,846.1 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00034 Fmt 3401 282.7 283.3 258.6 229.1 212.9 221.0 255.4 282.3 312.6 308.2 233.4 253.4 253.8 281.0 266.4 287.4 301.9 273.3 309.6 310.5 323.9 306.4 329.4 302.3 342.6 258.5 Subsidies 43.8 43.8 47.6 37.5 47.8 44.2 58.9 49.4 45.2 47.8 54.2 58.2 60.4 62.9 53.8 49.4 47.8 46.5 45.6 45.2 44.8 45.1 46.6 47.8 48.2 48.5 Net Federal Government saving 103.6 189.5 46.7 ¥247.9 ¥372.1 ¥370.6 ¥291.7 ¥201.1 ¥229.3 .................... ¥278.7 ¥269.5 ¥364.7 ¥253.8 ¥207.9 ¥225.0 ¥218.4 ¥153.2 ¥225.2 ¥211.4 ¥244.3 ¥236.3 ¥330.7 ¥649.6 ¥547.6 .................... Source: Department of Commerce, Bureau of Economic Analysis. 34 VerDate Nov 24 2008 Interest payments Sfmt 3401 E:\HR\OC\ECOIND.034 ECOIND g:\graphics\eecoind.034 Current tax receipts Period Contributions for government social insurance INTERNATIONAL STATISTICS INDUSTRIAL PRODUCTION AND CONSUMER PRICES—MAJOR INDUSTRIAL COUNTRIES Industrial production (2002=100; seasonally adjusted) Period United States Canada Japan Germany France Consumer prices (1982–84=100; NSA) United Kingdom Italy United States 1 Canada Japan France Germany Italy United Kingdom 1998 .............................. 1999 .............................. 2000 .............................. 2001 .............................. 2002 .............................. 2003 .............................. 2004 .............................. 2005 .............................. 2006 .............................. 2007 .............................. 2008 p ............................. 95.4 89.2 99.5 94.4 103.7 102.6 100.1 98.4 100.0 100.0 101.2 100.1 103.8 101.7 107.2 103.5 109.6 103.3 111.4 103.2 109.4 .............. 102.5 93.8 102.7 96.0 108.5 100.0 101.2 101.3 100.0 100.0 103.0 99.7 108.0 102.0 109.4 102.3 114.3 102.8 117.5 104.3 113.6 .............. 94.4 98.5 95.5 98.4 100.9 102.6 101.1 101.4 100.0 100.0 100.4 99.4 103.4 99.1 106.9 98.4 113.2 100.7 120.1 100.5 120.2 .............. 99.8 101.4 103.2 101.6 100.0 99.3 100.2 99.1 99.8 100.2 97.2 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 215.303 157.8 160.5 164.9 169.0 172.8 177.6 180.9 184.9 188.6 192.6 197.2 122.2 121.8 121.0 120.1 119.0 118.7 118.7 118.3 118.7 118.7 120.3 154.2 155.0 157.6 160.2 163.3 166.7 170.3 173.2 176.2 178.8 183.8 139.7 140.5 142.5 145.3 147.4 148.9 151.4 153.7 156.2 159.7 163.9 222.5 226.2 231.9 238.3 244.3 250.8 256.3 261.4 266.9 271.8 280.9 191.4 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 242.7 252.4 2007: Nov r ................... Dec r ................... 112.3 112.4 118.6 119.4 121.8 123.0 100.0 99.6 100.5 100.4 210.177 210.036 193.4 193.5 119.1 119.4 180.8 181.5 161.4 162.4 274.5 275.3 246.4 247.8 2008: Jan r ................... Feb r ................... Mar r ................... Apr r ................... May r .................. June r ................. July r .................. Aug r ................... Sept r .................. Oct r .................... Nov p ................... Dec p ................... 112.6 100.6 112.3 100.1 112.0 98.8 111.4 99.5 111.2 99.0 111.3 99.1 111.2 100.3 109.8 98.8 105.2 98.6 107.1 98.1 105.7 96.4 103.6 .............. 123.7 100.7 123.8 100.4 123.7 100.0 124.4 100.7 121.9 98.7 122.3 98.8 120.5 97.8 124.1 98.2 119.9 95.1 117.7 93.1 113.1 91.0 107.6 .............. 100.0 100.0 99.7 99.7 98.7 98.4 97.9 97.1 96.7 95.0 92.7 91.1 211.080 211.693 213.528 214.823 216.632 218.815 219.964 219.086 218.783 216.573 212.425 210.228 193.2 193.9 194.6 196.1 198.0 199.4 200.1 199.8 199.9 197.9 197.2 195.8 119.1 118.9 119.5 119.4 120.3 120.9 121.1 121.5 121.5 121.4 120.3 119.8 181.3 181.7 183.0 183.7 184.6 185.3 184.9 184.9 184.7 184.6 183.8 183.3 161.9 162.7 163.4 163.1 164.0 164.5 165.4 165.0 164.8 164.5 163.7 164.2 276.6 277.2 278.6 279.2 280.7 281.9 283.3 283.8 282.9 282.9 281.9 281.5 246.5 248.4 249.2 251.4 252.7 254.7 254.4 255.2 256.6 255.8 253.8 250.1 2009: Jan p ................... .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 163.4 281.1 .............. 102.9 100.0 105.0 105.1 118.7 105.4 120.6 105.7 116.5 104.4 116.3 105.6 119.6 102.4 117.0 101.6 118.5 102.8 114.3 102.3 115.5 101.6 111.9 97.8 102.4 95.5 92.6 .............. 1 Data Source: National sources as reported by Department of Commerce (Bureau of Economic Analysis and International Trade Administration, Office of Trade and Industry Information) and Council of Economic Advisers. relate to all urban consumers. NOTE.—See Note, p. 17, for information on U.S. industrial production series. U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES [Billions of dollars; monthly data seasonally adjusted] Goods: Exports (f.a.s. value) Goods: Imports (customs value) Census basis (by end-use category) Services (BOP basis) Balance of trade (exports minus imports) Census basis (by end-use category) BOP basis Period sroberts on PROD1PC70 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 BOP basis ............. 670.4 ............. 684.0 ............. 772.0 ............. 718.7 ............. 682.4 ............. 713.4 ............. 807.5 ............. 894.6 ............. 1,023.1 ............. 1,148.5 Total, Census basis 1 Auto- ConIndusmo- sumer Foods, trial Capital tive goods feeds, supgoods vehi- (nonand plies except cles, food) bevand auto- parts except erages mate- motive and autorials enmogines tive 682.1 695.8 781.9 729.1 693.1 724.8 818.8 906.0 1,036.6 1,162.5 46.4 46.0 47.9 49.4 49.6 55.0 56.6 59.0 66.0 84.3 148.3 147.5 172.6 160.1 156.8 173.0 203.9 233.0 276.0 316.3 299.4 72.4 80.3 310.8 75.3 80.9 356.9 80.4 89.4 321.7 75.4 88.3 290.4 78.9 84.4 293.7 80.6 89.9 331.4 89.2 103.2 363.3 98.4 115.3 415.0 107.0 129.1 447.4 121.0 146.1 BOP basis IndusAutoFoods, trial Capital motive Total, feeds, supgoods vehiCensus and plies except cles, basis 1 bevand auto- parts erages mate- motive and enrials gines Consumer goods (nonfood) except automotive Exports Imports Goods, Census basis Goods Services Goods and services 918.6 1,031.8 1,226.7 1,148.2 1,167.4 1,264.3 1,477.1 1,681.8 1,861.4 1,967.9 911.9 1,024.6 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 1,957.0 41.2 43.6 46.0 46.6 49.7 55.8 62.1 68.1 74.9 81.7 200.1 221.4 299.0 273.9 267.7 313.8 412.8 523.8 602.0 634.7 269.5 295.7 347.0 298.0 283.3 295.9 343.6 379.3 418.3 444.5 148.7 179.0 195.9 189.8 203.7 210.1 228.2 239.4 256.6 258.9 217.0 241.9 281.8 284.3 307.8 333.9 372.9 407.2 442.6 474.9 262.8 281.9 298.6 286.2 292.3 304.3 353.1 389.1 433.9 497.2 180.7 199.2 223.7 221.8 231.1 250.4 291.2 313.5 348.9 378.1 ¥229.8 ¥328.8 ¥436.1 ¥411.9 ¥468.3 ¥532.4 ¥650.9 ¥767.5 ¥817.3 ¥794.5 ¥248.2 ¥347.8 ¥454.7 ¥429.5 ¥485.0 ¥550.9 ¥669.6 ¥787.1 ¥838.3 ¥819.4 82.1 82.7 74.9 64.4 61.2 54.0 61.8 75.6 85.0 119.1 ¥166.1 ¥265.1 ¥379.8 ¥365.1 ¥423.7 ¥496.9 ¥607.7 ¥711.6 ¥753.3 ¥700.3 2007: Nov ... Dec .... 101.0 101.8 102.4 102.9 8.0 8.0 28.0 28.7 38.8 39.4 10.8 10.1 12.3 12.8 172.7 171.4 172.0 170.5 7.1 6.9 59.2 60.3 37.9 37.7 22.1 20.7 40.3 39.7 44.2 44.3 32.4 32.4 ¥69.6 ¥67.6 ¥71.7 ¥69.5 11.8 11.9 ¥59.9 ¥57.6 2008: Jan ... Feb ... Mar ... Apr ... May .. June July .. Aug ... Sept .. Oct r .. Nov p 104.7 108.1 105.0 110.1 111.0 116.3 120.8 117.9 107.8 104.8 97.2 105.5 109.0 105.5 110.8 111.5 117.0 121.7 119.0 108.3 105.5 98.1 8.6 9.1 9.6 9.9 9.7 10.4 10.4 10.2 9.0 8.2 7.7 29.7 31.8 31.5 32.7 34.2 36.7 38.3 37.4 33.0 31.5 27.3 39.4 39.3 37.8 40.1 39.4 40.6 41.5 42.3 38.1 38.0 36.5 10.3 10.8 9.4 10.0 10.2 10.8 12.2 10.5 10.3 10.1 9.0 13.3 13.4 12.6 13.4 13.4 14.1 14.9 14.0 13.5 13.3 13.1 174.8 180.6 173.4 183.0 183.1 187.5 194.9 188.9 177.4 173.8 149.7 174.0 178.9 171.8 181.4 182.4 186.8 193.9 188.3 175.9 173.1 148.9 7.1 7.2 7.1 7.4 7.6 7.5 7.5 7.8 7.6 7.7 7.3 64.0 64.5 61.5 67.5 67.1 73.4 79.9 73.8 65.2 64.7 48.2 37.4 38.3 37.9 39.1 39.8 38.4 39.0 38.3 38.7 37.3 35.1 21.2 22.8 20.3 21.5 20.5 20.5 20.4 19.3 18.5 17.6 16.4 39.1 41.0 39.5 40.2 41.8 41.3 41.1 43.6 40.2 40.3 36.6 44.7 44.5 44.7 45.2 46.2 46.8 47.5 47.7 47.3 46.7 45.6 33.3 33.4 33.2 33.6 34.1 34.2 34.5 35.5 34.3 34.4 33.6 ¥68.6 ¥69.9 ¥66.3 ¥70.6 ¥70.8 ¥69.8 ¥72.3 ¥69.3 ¥67.6 ¥67.6 ¥50.8 ¥70.1 ¥72.5 ¥68.4 ¥73.0 ¥72.1 ¥71.3 ¥74.1 ¥71.1 ¥69.5 ¥69.0 ¥52.4 11.4 11.0 11.4 11.6 12.1 12.6 13.0 12.2 13.0 12.4 12.0 ¥58.7 ¥61.4 ¥57.0 ¥61.4 ¥60.0 ¥58.7 ¥61.1 ¥58.9 ¥56.6 ¥56.7 ¥40.4 1 Total includes ‘‘other’’ exports or imports, not shown separately. NOTE.—BOP refers to balance of payments on international transactions basis. BOP data shown here are consistent with figures shown on pp. 36 and 37. Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 35 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the third quarter of 2008, the goods deficit fell to $214.7 billion, from $216.3 billion in the second quarter. The current account deficit fell to $174.1 billion in the third quarter, from $180.9 billion in the second quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period Exports Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Other services, net Balance on goods and services Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account .............. .............. .............. .............. ............. ............. ............. ............. ............. ............. 670,416 683,965 771,994 718,712 682,422 713,415 807,516 894,631 1,023,109 1,148,481 ¥918,637 ¥1,031,784 ¥1,226,684 ¥1,148,231 ¥1,167,377 ¥1,264,307 ¥1,477,094 ¥1,681,780 ¥1,861,380 ¥1,967,853 ¥248,221 ¥347,819 ¥454,690 ¥429,519 ¥484,955 ¥550,892 ¥669,578 ¥787,149 ¥838,270 ¥819,373 5,220 2,593 317 ¥2,296 ¥7,158 ¥11,981 ¥13,518 ¥10,536 ¥13,602 ¥16,768 10,210 7,085 2,486 ¥3,254 ¥4,245 ¥11,475 ¥14,275 ¥13,006 ¥10,788 2,181 66,651 73,051 72,052 69,943 72,633 77,433 89,640 99,124 109,377 133,702 ¥166,140 ¥265,090 ¥379,835 ¥365,126 ¥423,725 ¥496,915 ¥607,730 ¥711,567 ¥753,283 ¥700,258 261,819 293,925 350,918 290,797 280,942 320,456 413,739 535,263 685,150 817,779 ¥257,554 ¥280,037 ¥329,864 ¥259,075 ¥253,544 ¥275,147 ¥346,519 ¥462,905 ¥627,956 ¥736,030 4,265 13,888 21,054 31,722 27,398 45,309 67,219 72,358 57,194 81,749 ¥53,187 ¥50,428 ¥58,645 ¥51,295 ¥64,948 ¥71,794 ¥84,482 ¥89,784 ¥92,027 ¥112,705 ¥215,062 ¥301,630 ¥417,426 ¥384,699 ¥461,275 ¥523,400 ¥624,993 ¥728,993 ¥788,116 ¥731,214 2006: I ........ II ....... III ..... IV ..... 244,679 253,332 259,277 265,821 ¥453,286 ¥465,016 ¥477,900 ¥465,178 ¥208,607 ¥211,684 ¥218,623 ¥199,356 ¥3,121 ¥3,482 ¥3,641 ¥3,358 ¥2,853 ¥2,885 ¥2,622 ¥2,429 25,493 26,209 27,414 30,258 ¥189,087 ¥191,841 ¥197,471 ¥174,885 155,683 170,011 176,251 183,205 ¥141,031 ¥153,960 ¥164,969 ¥167,996 14,652 16,051 11,282 15,209 ¥21,516 ¥24,116 ¥24,716 ¥21,679 ¥195,952 ¥199,906 ¥210,906 ¥181,355 2007: I ........ II ....... III ..... IV ..... 270,318 279,488 295,494 303,180 ¥473,681 ¥485,375 ¥496,698 ¥512,099 ¥203,363 ¥205,887 ¥201,204 ¥208,919 ¥3,286 ¥4,085 ¥4,251 ¥5,146 ¥1,587 ¥806 1,064 3,509 28,692 31,960 36,276 36,773 ¥179,543 ¥178,819 ¥168,114 ¥173,783 186,746 202,171 213,520 215,343 ¥173,959 ¥192,492 ¥190,562 ¥179,016 12,787 9,679 22,958 36,327 ¥30,174 ¥24,953 ¥27,796 ¥29,784 ¥196,930 ¥194,093 ¥172,952 ¥167,241 2008: I ........ II ....... III p .... 317,813 337,312 346,536 ¥528,845 ¥553,641 ¥561,246 ¥211,032 ¥216,328 ¥214,710 ¥4,398 ¥5,432 ¥5,580 3,115 4,643 6,499 199,827 ¥166,615 196,446 ¥168,282 194,655 ¥163,819 33,212 28,164 30,835 ¥31,742 ¥29,028 ¥28,390 ¥175,640 ¥180,944 ¥174,091 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 sroberts on PROD1PC70 with ECOIND Imports Services 1 Adjusted from Census data for differences in timing and coverage; excludes military. 2 Transfers under U.S. military agency sales contracts (exports) minus direct defense expenditures (imports). 35,205 ¥177,110 37,038 ¥180,079 37,255 ¥176,536 3 Includes transfers of goods and services under U.S. military grant programs. See p. 37 for continuation of table. 36 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00036 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.036 ECOIND g:\graphics\eecoind.036 Goods 1 U.S. INTERNATIONAL TRANSACTIONS—Continued In the financial account, U.S. claims on foreigners reported by U.S. banks decreased $152.0 billion in the third quarter of 2008, following a decrease of $213.9 billion in the second quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, decreased $147.9 billion in the third quarter, following a decrease of $256.6 billion in the second quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account Period Total ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... I .... II ... III IV .. 2007: I .... II ... III IV .. 2008: I .... II ... III p sroberts on PROD1PC70 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2006: ¥766 ¥353,829 ¥4,939 ¥504,062 ¥1,010 ¥560,523 ¥1,270 ¥382,616 ¥1,470 ¥294,646 ¥3,480 ¥325,424 ¥2,369 ¥1,000,870 ¥4,036 ¥546,631 ¥3,880 ¥1,251,749 ¥1,843 ¥1,289,854 ¥1,716 ¥359,608 ¥1,005 ¥234,828 ¥533 ¥286,769 ¥626 ¥370,543 ¥543 ¥442,065 ¥112 ¥523,556 ¥617 ¥170,476 ¥571 ¥153,757 ¥600 ¥260,644 ¥631 102,698 ¥593 9,505 Statistical discrepancy Foreign-owned assets in the U.S., excluding financial derivatives [increase/financial inflow (+)] U.S. official reserve assets 4 Other U.S. Government assets ¥6,783 8,747 ¥290 ¥4,911 ¥3,681 1,523 2,805 14,096 2,374 ¥122 513 ¥560 1,006 1,415 ¥72 26 ¥54 ¥22 ¥276 ¥1,267 ¥179 ¥422 ¥346,624 2,750 ¥515,559 ¥941 ¥559,292 ¥486 ¥377,219 345 ¥291,310 537 ¥327,484 1,710 ¥1,005,385 5,539 ¥566,266 5,346 ¥1,259,469 ¥22,273 ¥1,267,459 1,049 ¥361,170 1,765 ¥236,033 1,570 ¥289,346 962 ¥372,920 445 ¥442,438 ¥596 ¥522,985 623 ¥171,045 ¥22,744 ¥130,990 3,265 ¥263,634 ¥41,592 145,558 ¥225,994 235,678 U.S. private assets Total 420,794 742,210 1,038,224 782,870 795,161 858,303 1,533,201 1,247,347 2,061,113 2,057,703 537,649 405,008 524,858 593,598 692,713 718,112 266,476 380,402 459,017 22,719 125,692 4 Consists of gold, special drawing rights (SDRs), foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF). Foreign official assets ¥19,903 43,543 42,758 28,059 115,945 278,069 397,755 259,268 487,939 411,058 130,427 127,303 121,843 108,366 163,270 88,822 13,469 145,497 173,533 145,391 117,663 Other foreign assets 440,697 698,667 995,466 754,811 679,216 580,234 1,135,446 988,079 1,573,174 1,646,645 407,222 277,705 403,015 485,232 529,443 629,290 253,007 234,905 285,484 ¥122,672 8,029 Financial derivatives, net Total (sum of the items with sign reversed) .................. .................. .................. .................. .................. .................. .................. .................. 29,710 6,496 1,633 14,090 15,134 ¥1,147 14,795 ¥1,007 5,942 ¥13,234 ¥8,001 ¥2,519 .................. 148,863 68,421 ¥59,265 ¥14,285 ¥37,770 ¥6,000 95,030 32,313 ¥47,078 ¥41,287 17,994 16,641 ¥41,784 ¥39,927 ¥67,970 656 71,627 ¥45,600 ¥14,131 58,677 39,487 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 10,054 587 ¥19,426 8,787 12,192 722 ¥21,805 8,892 9,271 ¥3,368 ¥33,739 U.S. official reserve assets, net 4 (unadjusted, end of period) 81,761 71,516 67,647 68,654 79,006 85,938 86,824 65,127 65,895 70,565 65,354 67,935 66,217 65,895 66,551 66,127 69,070 70,565 75,764 75,740 71,834 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Nov 24 2008 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00037 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.037 ECOIND g:\graphics\eecoind.037 U.S.-owned assets abroad, excluding financial derivatives [increase/financial outflow (¥)] Capital account transactions, net Contents Page TOTAL OUTPUT, INCOME, AND SPENDING Gross Domestic Product .......................................................................................................................................................................................... Real Gross Domestic Product .................................................................................................................................................................................. Implicit Price Deflators for Gross Domestic Product .............................................................................................................................................. Gross Domestic Product and Related Price Measures: Indexes and Percent Changes .............................................................................................. Nonfinancial Corporate Business—Gross Value Added and Price, Costs, and Profits ............................................................................................. National Income ...................................................................................................................................................................................................... Real Personal Consumption Expenditures ............................................................................................................................................................... Sources of Personal Income ...................................................................................................................................................................................... Disposition of Personal Income ............................................................................................................................................................................... Farm Income ............................................................................................................................................................................................................ Corporate Profits ...................................................................................................................................................................................................... Real Gross Private Domestic Investment ................................................................................................................................................................ Real Private Fixed Investment by Type .................................................................................................................................................................. Business Investment ................................................................................................................................................................................................ 1 2 2 3 3 4 4 5 6 7 8 9 10 10 EMPLOYMENT, UNEMPLOYMENT, AND WAGES Status of the Labor Force ......................................................................................................................................................................................... Selected Unemployment Rates ................................................................................................................................................................................ Selected Measures of Unemployment and Unemployment Insurance Programs ...................................................................................................... Nonagricultural Employment .................................................................................................................................................................................. Average Weekly Hours, Hourly Earnings, and Weekly Earnings—Private Nonagricultural Industries ................................................................. Employment Cost Index—Private Industry ............................................................................................................................................................. Productivity and Related Data, Business Sector ...................................................................................................................................................... 11 12 13 14 15 15 16 PRODUCTION AND BUSINESS ACTIVITY Industrial Production and Capacity Utilization ....................................................................................................................................................... Industrial Production—Major Market Groups and Selected Manufactures .............................................................................................................. New Construction .................................................................................................................................................................................................... New Private Housing and Vacancy Rates ............................................................................................................................................................... Business Sales and Inventories—Manufacturing and Trade ..................................................................................................................................... Manufacturers’ Shipments, Inventories, and Orders ................................................................................................................................................. 17 18 19 19 20 21 PRICES Producer Prices ........................................................................................................................................................................................................ Consumer Prices—All Urban Consumers ................................................................................................................................................................ Changes in Producer Prices for Finished Goods ...................................................................................................................................................... Changes in Consumer Prices—All Urban Consumers ............................................................................................................................................. Prices Received and Paid by Farmers ...................................................................................................................................................................... 22 23 24 24 25 MONEY, CREDIT, AND SECURITY MARKETS Money Stock and Debt Measures ............................................................................................................................................................................. Components of Money Stock ................................................................................................................................................................................... Aggregate Reserves and Monetary Base ................................................................................................................................................................... Bank Credit at All Commercial Banks .................................................................................................................................................................... Sources and Uses of Funds, Nonfarm Nonfinancial Corporate Business .................................................................................................................. Consumer Credit ...................................................................................................................................................................................................... Interest Rates and Bond Yields ............................................................................................................................................................................... Common Stock Prices and Yields ............................................................................................................................................................................ 26 27 27 28 29 29 30 31 FEDERAL FINANCE Federal Receipts, Outlays, and Debt ....................................................................................................................................................................... Federal Receipts by Source and Outlays by Function .............................................................................................................................................. Federal Sector, National Income Accounts Basis ..................................................................................................................................................... 32 33 34 INTERNATIONAL STATISTICS Industrial Production and Consumer Prices—Major Industrial Countries ............................................................................................................... U.S. International Trade in Goods and Services ...................................................................................................................................................... U.S. International Transactions ................................................................................................................................................................................ 35 35 36 sroberts on PROD1PC70 with ECOIND General Notes Detail in these tables may not add to totals because of rounding. Unless otherwise noted, all dollar figures are in current dollars. Symbols used: p Preliminary. r Revised. c Corrected. … Not available (also, not applicable). NSA not seasonally adjusted. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Price $5.00 (single copy) ($7.00 foreign). Subscription price: $58.00 per year; $81.20 for foreign mailing. 38 VerDate Nov 24 2008 U.S. GOVERNMENT PRINTING OFFICE : 2009 47–158 23:29 Feb 10, 2009 Jkt 047158 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND
@FedFRASER