Full text of Economic Indicators : June 2008
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
110th Congress, 2nd Session Economic Indicators JUNE 2008 (Includes data available as of July 7, 2008) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE wwoods2 on PRODPC60 with ECOIND_CN WASHINGTON : 2008 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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.) CHARLES E. SCHUMER, New York, Chairman CAROLYN B. MALONEY, New York, Vice Chair HOUSE OF REPRESENTATIVES MAURICE D. HINCHEY, New York BARON P. HILL, Indiana LORETTA SANCHEZ, California ELIJAH E. CUMMINGS, Maryland LLOYD DOGGETT, Texas JIM SAXTON, New Jersey KEVIN BRADY, Texas PHIL ENGLISH, Pennsylvania RON PAUL, Texas SENATE EDWARD M. KENNEDY, Massachusetts JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, Jr., Pennsylvania JIM WEBB, Virginia SAM BROWNBACK, Kansas JOHN E. SUNUNU, New Hampshire JIM DeMINT, South Carolina ROBERT F. BENNETT, Utah COUNCIL OF ECONOMIC ADVISERS EDWARD P. LAZEAR, Chairman DONALD B. MARRON, Member [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. wwoods2 on PRODPC60 with ECOIND_CN 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 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00040 Fmt 3440 Sfmt 3440 E:\HR\OC\ECOIND.040 ECOIND TOTAL OUTPUT, INCOME, AND SPENDING GROSS DOMESTIC PRODUCT In the first quarter of 2008, according to revised estimates, current-dollar gross domestic product (GDP) rose 3.7 percent (annual rate), real GDP (GDP in chained 2000 dollars) rose 1.0 percent, and the implicit price deflator rose 2.7 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] 1998 ...................... 1999 ...................... 2000 ...................... 2001 ...................... 2002 ...................... 2003 ...................... 2004 ...................... 2005 ...................... 2006 ...................... 2007 ...................... 2004: III ............. IV .............. 2005: I ................ II ............... III ............. IV .............. 2006: I ................ II ............... III ............. IV .............. 2007: I ................ II ............... III ............. IV .............. 2008: I r ............... 1 GDP Net exports Exports 8,747.0 5,879.5 9,268.4 6,282.5 9,817.0 6,739.4 10,128.0 7,055.0 10,469.6 7,350.7 10,960.8 7,703.6 11,685.9 8,195.9 12,433.9 8,707.8 13,194.7 9,224.5 13,841.3 9,734.2 11,779.4 8,245.1 11,948.5 8,393.3 12,154.0 8,488.8 12,317.4 8,632.6 12,558.8 8,810.5 12,705.5 8,899.3 12,964.6 9,034.7 13,155.0 9,183.9 13,266.9 9,305.7 13,392.3 9,373.7 13,551.9 9,540.5 13,768.8 9,674.0 13,970.5 9,785.7 14,074.2 9,936.6 14,201.1 10,053.7 ¥159.9 ¥260.5 ¥379.5 ¥367.0 ¥424.4 ¥499.4 ¥615.4 ¥714.6 ¥762.0 ¥708.0 ¥632.6 ¥682.6 ¥671.1 ¥679.8 ¥725.0 ¥782.4 ¥763.3 ¥780.4 ¥799.1 ¥705.3 ¥714.2 ¥714.2 ¥694.7 ¥708.9 ¥717.0 955.9 991.2 1,096.3 1,032.8 1,005.9 1,040.8 1,182.4 1,309.4 1,467.6 1,643.0 1,187.3 1,228.6 1,260.8 1,301.2 1,316.0 1,359.6 1,406.6 1,447.4 1,484.5 1,531.9 1,549.9 1,598.7 1,685.7 1,737.7 1,798.9 1,509.1 1,625.7 1,735.5 1,614.3 1,582.1 1,664.1 1,888.6 2,077.2 2,209.2 2,125.4 1,929.7 1,979.5 2,029.6 2,024.7 2,078.5 2,176.0 2,221.1 2,239.0 2,224.1 2,152.4 2,117.3 2,139.1 2,162.9 2,082.1 2,038.9 Government consumption expenditures and gross investment Federal Imports Total Total 1,115.9 1,251.7 1,475.8 1,399.8 1,430.3 1,540.2 1,797.8 2,023.9 2,229.6 2,351.0 1,820.0 1,911.2 1,931.9 1,981.0 2,041.0 2,141.9 2,169.9 2,227.8 2,283.6 2,237.2 2,264.0 2,312.9 2,380.4 2,446.6 2,515.9 less exports of goods and services plus imports of goods and services. 1,518.3 1,620.8 1,721.6 1,825.6 1,961.1 2,092.5 2,216.8 2,363.4 2,523.0 2,689.8 2,237.3 2,258.2 2,306.7 2,339.8 2,394.8 2,412.5 2,472.1 2,512.5 2,536.1 2,571.4 2,608.3 2,670.0 2,716.5 2,764.4 2,825.5 530.4 555.8 578.8 612.9 679.7 756.4 825.6 878.4 932.5 976.0 839.4 835.0 864.0 870.4 896.0 883.4 921.5 926.9 932.0 949.7 946.6 969.5 990.3 997.7 1,023.3 National defense 345.7 360.6 370.3 392.6 437.1 497.2 550.7 588.7 624.3 660.1 564.9 555.0 577.7 585.0 604.3 587.7 610.8 620.6 620.7 645.2 634.8 654.5 673.5 677.7 696.8 Nondefense 184.7 195.2 208.5 220.3 242.5 259.2 274.9 289.8 308.2 315.9 274.5 280.0 286.2 285.4 291.7 295.7 310.7 306.3 311.3 304.5 311.7 315.0 316.8 320.0 326.5 State and local 987.9 1,065.0 1,142.8 1,212.8 1,281.5 1,336.0 1,391.2 1,485.0 1,590.5 1,713.8 1,397.9 1,423.2 1,442.7 1,469.5 1,498.7 1,529.0 1,550.6 1,585.7 1,604.1 1,621.7 1,661.7 1,700.5 1,726.2 1,766.7 1,802.2 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,676.2 9,201.5 9,760.5 10,159.7 10,457.7 10,946.5 11,627.3 12,397.0 13,148.0 13,838.4 11,714.4 11,885.0 12,084.7 12,305.2 12,553.1 12,645.0 12,920.3 13,095.5 13,204.1 13,372.3 13,553.5 13,763.6 13,935.0 14,101.6 14,231.5 8,906.9 9,528.9 10,196.4 10,495.0 10,894.0 11,460.2 12,301.3 13,148.5 13,956.7 14,549.3 12,412.0 12,631.1 12,825.1 12,997.2 13,283.8 13,487.8 13,727.9 13,935.4 14,065.9 14,097.6 14,266.1 14,483.0 14,665.1 14,783.1 14,918.1 8,768.3 9,302.2 9,855.9 10,171.6 10,500.2 11,017.6 11,762.1 12,502.4 13,252.7 13,937.1 11,862.3 12,001.1 12,224.0 12,385.1 12,645.7 12,755.0 13,027.5 13,218.9 13,311.9 13,452.4 13,615.1 13,839.4 14,071.6 14,222.1 14,321.9 Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 wwoods2 on PRODPC60 with ECOIND_CN 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: 2007: 2008: ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... III IV .. I .... II ... III IV .. I .... II ... III IV .. I .... II ... III IV .. I r ... 9,066.9 9,470.3 9,817.0 9,890.7 10,048.8 10,301.0 10,675.8 11,003.4 11,319.4 11,566.8 10,728.7 10,796.4 10,878.4 10,954.1 11,074.3 11,107.2 11,238.7 11,306.7 11,336.7 11,395.5 11,412.6 11,520.1 11,658.9 11,675.7 11,703.6 Personal conNonresi- Resi- Change sumption dential dential in priexpendifixed fixed vate tures invest- invest- invenment ment tories 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,803.6 8,044.1 8,277.8 7,585.5 7,664.3 7,709.4 7,775.2 7,852.8 7,876.9 7,961.9 8,009.3 8,063.8 8,141.2 8,215.7 8,244.3 8,302.2 8,349.1 8,372.9 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,225.8 1,306.8 1,368.4 1,160.7 1,189.7 1,199.5 1,214.1 1,239.5 1,250.0 1,289.7 1,303.2 1,319.4 1,314.8 1,321.7 1,356.6 1,387.3 1,407.8 1,409.7 418.3 72.6 443.6 68.9 446.9 56.5 448.5 ¥31.7 469.9 12.5 509.4 14.3 560.2 54.3 597.1 33.2 569.5 40.3 472.8 4.5 567.5 60.1 570.9 57.2 578.3 63.4 596.4 10.1 606.4 5.9 607.2 53.6 606.1 38.4 587.5 51.4 555.0 53.9 529.4 17.4 506.3 .1 490.7 5.8 463.3 30.6 430.9 ¥18.3 401.6 ¥19.6 Exports and imports of goods and services Government consumption expenditures and gross investment Federal Net exports Exports Imports Total ¥203.7 ¥296.2 ¥379.5 ¥399.1 ¥471.3 ¥518.9 ¥593.8 ¥618.0 ¥624.5 ¥555.6 ¥602.7 ¥632.3 ¥624.4 ¥601.0 ¥604.1 ¥642.6 ¥640.1 ¥626.6 ¥633.8 ¥597.3 ¥612.1 ¥573.9 ¥533.1 ¥503.2 ¥480.2 966.5 1,008.2 1,096.3 1,036.7 1,013.3 1,026.1 1,126.1 1,203.4 1,304.1 1,409.9 1,128.0 1,155.3 1,172.4 1,199.3 1,205.6 1,236.4 1,270.6 1,288.4 1,306.6 1,350.9 1,354.7 1,379.5 1,441.2 1,464.1 1,483.7 1,170.3 1,304.4 1,475.8 1,435.8 1,484.6 1,545.0 1,719.9 1,821.5 1,928.6 1,965.4 1,730.8 1,787.7 1,796.8 1,800.3 1,809.7 1,879.0 1,910.7 1,915.0 1,940.4 1,948.2 1,966.8 1,953.4 1,974.3 1,967.3 1,963.9 1,624.4 1,686.9 1,721.6 1,780.3 1,858.8 1,904.8 1,931.8 1,946.3 1,981.4 2,021.6 1,939.4 1,930.6 1,936.8 1,942.5 1,957.6 1,948.2 1,971.8 1,976.5 1,980.2 1,997.2 1,994.7 2,014.8 2,033.6 2,043.4 2,053.9 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 561.2 573.7 578.8 601.4 643.4 687.1 715.9 726.5 742.3 755.0 724.5 716.0 721.0 722.2 737.3 725.5 740.4 737.4 739.2 752.3 740.2 751.0 764.0 765.0 773.2 365.3 372.2 370.3 384.9 413.2 449.0 475.0 482.4 491.5 505.1 484.8 472.7 478.1 481.1 492.7 477.7 485.5 488.2 486.4 505.8 491.6 501.7 513.9 513.2 520.3 195.9 201.5 208.5 216.5 230.2 238.0 240.7 243.9 250.7 249.6 239.4 243.2 242.7 240.9 244.3 247.8 254.8 249.0 252.7 246.1 248.4 248.9 249.6 251.4 252.4 State and local 1,063.0 1,113.2 1,142.8 1,179.0 1,215.4 1,217.8 1,215.8 1,219.6 1,239.0 1,266.4 1,214.7 1,214.4 1,215.7 1,220.1 1,220.3 1,222.5 1,231.3 1,238.9 1,240.9 1,244.9 1,254.2 1,263.5 1,269.6 1,278.3 1,280.9 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,997.6 9,404.0 9,760.5 9,920.9 10,036.5 10,285.1 10,619.8 10,966.9 11,275.9 11,561.5 10,666.6 10,737.0 10,813.0 10,940.4 11,064.8 11,049.5 11,196.1 11,252.1 11,279.7 11,375.8 11,411.6 11,512.8 11,626.4 11,695.2 11,722.5 9,272.5 9,767.7 10,196.4 10,290.1 10,517.7 10,815.5 11,261.4 11,613.1 11,937.1 12,117.8 11,322.8 11,419.2 11,493.8 11,546.9 11,670.0 11,742.0 11,871.3 11,926.1 11,963.6 11,987.1 12,018.7 12,088.9 12,188.3 12,175.5 12,180.4 9,088.7 9,504.7 9,855.9 9,933.6 10,079.0 10,355.3 10,746.0 11,064.7 11,370.1 11,647.6 10,804.9 10,844.4 10,941.9 11,014.7 11,151.2 11,151.1 11,294.0 11,362.5 11,375.9 11,447.8 11,466.7 11,580.0 11,744.6 11,799.1 11,804.3 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 Period 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: wwoods2 on PRODPC60 with ECOIND_CN 2007: 2008: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I r ........... 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.000 116.567 119.664 109.793 110.671 111.726 112.446 113.405 114.389 115.357 116.347 117.026 117.522 118.745 119.519 119.826 120.542 121.339 Total 95.979 97.575 100.000 102.094 103.542 105.597 108.391 111.587 114.675 117.593 108.695 109.512 110.110 111.027 112.196 112.981 113.474 114.665 115.401 115.139 116.125 117.341 117.868 119.015 120.074 Durable goods Nondurable goods 104.152 101.625 100.000 98.113 95.767 92.366 90.695 90.018 88.856 87.277 90.416 90.452 90.472 90.376 89.737 89.493 89.279 89.114 88.832 88.218 87.803 87.493 87.095 86.730 86.686 93.821 96.174 100.000 101.531 102.090 104.145 107.626 111.561 114.989 118.404 107.892 109.141 109.218 110.553 113.098 113.315 113.399 115.761 116.577 114.211 115.621 118.414 118.753 120.811 122.752 Gross private domestic investment Services Nonresidential fixed 95.318 97.393 100.000 103.256 106.019 109.379 112.929 116.725 120.725 124.556 113.397 114.189 115.194 116.155 117.089 118.424 119.307 120.244 121.202 122.115 123.244 124.047 124.914 125.988 126.884 101.421 100.057 100.000 99.683 99.513 99.591 100.896 103.778 106.962 108.290 101.029 101.666 102.799 103.425 103.836 105.002 106.018 106.759 107.262 107.785 108.297 108.289 108.136 108.435 108.466 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 92.239 95.780 100.000 104.633 107.240 112.372 120.587 128.653 134.287 135.503 121.932 123.773 125.755 126.884 129.560 132.247 133.555 134.163 134.427 135.118 135.779 135.502 135.409 135.280 134.513 Exports Imports Total 98.905 98.313 100.000 99.625 99.272 101.429 104.997 108.803 112.537 116.537 105.257 106.346 107.537 108.491 109.154 109.963 110.705 112.337 113.620 113.403 114.412 115.891 116.971 118.683 121.249 95.354 95.960 100.000 97.497 96.342 99.686 104.526 111.117 115.610 119.617 105.154 106.913 107.518 110.033 112.778 113.996 113.564 116.334 117.688 114.834 115.114 118.408 120.572 124.360 128.110 94.512 96.883 100.000 101.908 105.632 110.095 115.322 120.914 125.622 129.265 115.857 116.616 119.834 120.507 121.530 121.767 124.460 125.684 126.095 126.242 127.884 129.096 129.619 130.414 132.354 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND National defense Nondefense State and local 94.643 96.886 100.000 102.002 105.792 110.751 115.932 122.034 127.026 130.692 116.515 117.412 120.843 121.586 122.651 123.042 125.797 127.100 127.611 127.575 129.146 130.446 131.063 132.042 133.928 94.269 96.880 100.000 101.738 105.345 108.898 114.218 118.807 122.959 126.565 114.656 115.141 117.950 118.481 119.423 119.355 121.931 122.997 123.213 123.724 125.512 126.549 126.885 127.303 129.354 92.935 95.667 100.000 102.868 105.434 109.712 114.431 121.758 128.370 135.324 115.079 117.192 118.675 120.439 122.820 125.080 125.932 127.991 129.265 130.266 132.492 134.580 135.963 138.203 140.699 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) 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2003: 2004: 2005: 2006: 2007: 2008: .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I r .............................. 1 Quarterly 92.359 96.469 100.000 100.751 102.362 104.931 108.748 112.086 115.304 117.825 105.926 106.621 107.402 108.325 109.287 109.977 110.812 111.583 112.808 113.143 114.482 115.175 115.481 116.080 116.254 117.349 118.763 118.934 119.218 GDP chain-type price index GDP implicit price deflator 96.475 97.868 100.000 102.402 104.193 106.409 109.462 113.005 116.568 119.668 106.616 107.204 108.180 109.185 109.807 110.677 111.745 112.455 113.422 114.398 115.363 116.350 117.030 117.527 118.750 119.527 119.837 120.560 121.363 PCE (chain-type price index) PCE less food and energy price index 95.978 97.575 100.000 102.094 103.542 105.597 108.392 111.588 114.675 117.591 105.851 106.242 107.163 108.179 108.703 109.521 110.119 111.037 112.205 112.989 113.480 114.670 115.406 115.143 116.129 117.345 117.873 119.019 120.079 96.895 98.343 100.000 101.904 103.705 105.175 107.338 109.670 112.130 114.483 105.384 105.806 106.442 107.142 107.601 108.169 108.858 109.422 109.878 110.520 111.078 111.871 112.519 113.052 113.730 114.116 114.682 115.403 116.053 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.000 116.567 119.664 106.611 107.190 108.175 109.178 109.793 110.671 111.726 112.446 113.405 114.389 115.357 116.347 117.026 117.522 118.745 119.519 119.826 120.542 121.339 percent changes are at annual rates. Real GDP (chain-type quantity index) GDP (current dollars) 5.3 6.0 5.9 3.2 3.4 4.7 6.6 6.4 6.1 4.9 9.7 4.9 6.8 7.4 6.0 5.9 7.1 5.5 8.1 4.8 8.4 6.0 3.4 3.8 4.9 6.6 6.0 3.0 3.7 GDP chain-type price index 4.2 4.5 3.7 .8 1.6 2.5 3.6 3.1 2.9 2.2 7.5 2.7 3.0 3.5 3.6 2.5 3.1 2.8 4.5 1.2 4.8 2.4 1.1 2.1 .6 3.8 4.9 .6 1.0 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.2 3.2 2.7 2.1 2.2 3.7 3.8 2.3 3.2 3.9 2.6 3.5 3.5 3.4 3.5 2.4 1.7 4.2 2.6 1.0 2.4 2.7 GDP implicit price deflator 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.2 3.2 2.7 2.1 2.2 3.7 3.8 2.3 3.2 3.9 2.6 3.5 3.5 3.4 3.5 2.4 1.7 4.2 2.6 1.0 2.4 2.7 PCE (chain-type price index) PCE less food and energy price index 0.9 1.7 2.5 2.1 1.4 2.0 2.6 2.9 2.8 2.5 2.4 1.5 3.5 3.8 2.0 3.0 2.2 3.4 4.3 2.8 1.7 4.3 2.6 ¥.9 3.5 4.3 1.8 3.9 3.6 1.3 1.5 1.7 1.9 1.8 1.4 2.1 2.2 2.2 2.1 1.8 1.6 2.4 2.7 1.7 2.1 2.6 2.1 1.7 2.4 2.0 2.9 2.3 1.9 2.4 1.4 2.0 2.5 2.3 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 wwoods2 on PRODPC60 with ECOIND_CN 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 r .................................................. 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 6,319.4 6,689.4 6,949.1 6,170.9 6,291.1 6,349.9 6,465.6 6,594.1 6,639.8 6,739.1 6,784.5 6,865.0 6,938.0 6,973.5 7,019.7 7,080.3 4,725.4 5,011.0 5,272.2 5,224.5 5,269.7 5,387.5 5,662.1 5,836.9 6,011.3 6,145.2 5,753.6 5,836.3 5,842.2 5,915.5 5,981.3 5,968.6 6,033.1 6,062.2 6,075.5 6,119.2 6,174.9 6,211.3 6,256.5 Total Compensation of employees (unit labor cost) 0.985 .988 1.000 1.013 1.019 1.032 1.052 1.083 1.113 1.131 1.073 1.078 1.087 1.093 1.102 1.112 1.117 1.119 1.130 1.134 1.129 1.130 1.132 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. 0.645 .652 .672 .688 .685 .687 .683 .699 .718 .741 .694 .691 .704 .705 .710 .715 .714 .733 .740 .740 .740 .746 .749 Total 0.226 .229 .237 .257 .253 .253 .249 .256 .260 .261 .253 .253 .260 .255 .256 .261 .259 .261 .261 .262 .261 .263 .261 Consumption of fixed capital Taxes on production and imports 3 Net interest and miscellaneous payments 0.104 .105 .108 .124 .122 .122 .121 .127 .129 .130 .122 .122 .138 .126 .126 .129 .129 .130 .131 .131 .130 .130 .129 0.092 .092 .093 .094 .099 .103 .103 .106 .109 .109 .107 .108 .100 .107 .108 .109 .108 .109 .108 .109 .109 .110 .110 0.030 .032 .036 .039 .032 .028 .025 .023 .022 .022 .024 .023 .022 .022 .022 .023 .022 .022 .022 .022 .022 .023 .022 Corporate profits with inventory valuation and capital consumption adjustments 4 Total 0.114 .107 .090 .068 .081 .091 .120 .128 .135 .128 .126 .134 .122 .132 .136 .137 .144 .125 .129 .132 .128 .122 .122 Taxes on corporate income 0.034 .034 .032 .021 .018 .025 .034 .045 .048 .051 .043 .045 .045 .048 .047 .048 .050 .047 .049 .053 .050 .051 .045 Profits after tax 5 0.080 .073 .058 .047 .063 .066 .087 .083 .088 .077 .082 .089 .077 .084 .090 .089 .094 .078 .079 .079 .078 .071 .076 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: 2007: 2008: ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... III ... IV ... I ...... II .... III ... IV ... I ...... II .... III ... IV ... I ...... II ..... III ... IV ... I r ..... 1 With 7,752.8 8,236.7 8,795.2 8,979.8 9,229.3 9,632.3 10,306.8 10,887.6 11,655.6 12,228.0 10,317.8 10,571.3 10,768.5 10,903.0 10,714.6 11,164.5 11,473.6 11,618.7 11,685.6 11,844.6 12,010.5 12,196.8 12,296.0 12,408.9 12,481.3 Compensation of employees 5,019.4 5,357.1 5,782.7 5,942.1 6,091.2 6,325.4 6,656.4 7,029.6 7,448.3 7,881.1 6,709.7 6,813.6 6,890.5 6,961.3 7,088.5 7,178.3 7,328.7 7,371.9 7,442.5 7,649.9 7,764.9 7,826.9 7,907.7 8,025.0 8,110.7 Farm Nonfarm 29.4 28.6 22.7 19.7 10.6 29.2 37.3 30.8 19.4 36.2 33.0 36.5 30.1 34.0 30.9 28.2 20.8 14.6 18.1 23.9 29.1 33.1 38.6 43.8 37.3 598.4 649.7 705.7 752.2 757.8 782.1 874.3 939.1 987.4 1,006.4 881.1 908.0 918.6 937.1 936.2 964.4 979.3 998.9 985.5 985.8 998.3 1,005.3 1,010.0 1,012.1 1,018.5 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 63.1 74.5 58.6 48.1 120.1 98.7 69.7 ¥170.6 ¥215.8 ¥235.3 59.0 50.5 ¥136.3 ¥155.2 ¥197.5 ¥193.5 ¥193.3 ¥209.1 ¥223.7 ¥237.0 ¥227.9 ¥234.4 ¥237.4 ¥241.5 ¥73.8 487.1 495.4 559.0 566.3 520.9 524.7 491.2 558.0 598.5 602.6 483.9 491.8 534.0 546.7 568.5 583.0 592.9 611.0 594.2 596.0 599.6 592.4 599.3 619.0 601.6 639.8 674.0 708.9 728.6 762.8 807.2 863.8 921.6 967.3 1,008.5 867.8 885.5 899.5 917.7 930.0 939.2 953.3 965.9 971.2 978.9 990.8 1,004.1 1,014.4 1,024.8 1,030.3 Profits with inventory valuation adjustment and without capital consumption adjustment Total 137.5 147.3 150.3 167.4 152.9 133.0 118.4 42.9 54.5 65.4 105.5 101.7 87.6 74.5 ¥49.8 59.3 59.0 55.4 52.9 50.9 53.2 62.1 68.4 77.8 80.9 801.6 851.3 817.9 767.3 886.3 993.1 1,231.2 1,372.8 1,553.7 1,595.2 1,218.7 1,294.8 1,376.7 1,404.0 1,297.9 1,412.5 1,515.5 1,575.5 1,592.5 1,531.2 1,547.7 1,642.4 1,621.9 1,569.0 1,563.8 Total Profits before tax 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,543.4 1,769.5 1,830.5 1,159.7 1,244.3 1,513.0 1,559.3 1,495.4 1,605.9 1,708.8 1,784.6 1,816.2 1,768.2 1,775.6 1,876.8 1,859.4 1,810.5 1,637.6 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,579.6 1,805.8 1,876.7 1,199.3 1,291.5 1,558.3 1,578.7 1,528.3 1,653.0 1,740.2 1,842.3 1,851.4 1,789.2 1,815.8 1,931.5 1,879.7 1,879.9 1,735.7 inventory valuation and capital consumption adjustments. Inventory valuation adjustment 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥36.2 ¥36.3 ¥46.2 ¥39.6 ¥47.2 ¥45.3 ¥19.4 ¥32.9 ¥47.0 ¥31.4 ¥57.7 ¥35.2 ¥21.0 ¥40.2 ¥54.7 ¥20.3 ¥69.4 ¥98.1 Less: Subsidies Business current transfer payments Current surplus of government enterprises 35.4 44.2 44.3 55.3 38.4 47.9 44.6 58.5 49.7 47.1 44.2 47.6 54.3 58.1 59.6 62.2 53.2 49.7 48.3 47.8 47.0 47.3 46.6 47.5 48.4 64.7 67.4 87.1 92.8 84.3 83.8 83.0 66.5 90.2 94.2 67.0 93.6 94.3 96.1 ¥.3 75.8 89.1 88.6 91.4 91.8 91.8 92.8 94.4 97.9 100.9 10.3 10.1 5.3 ¥1.4 .9 1.7 ¥4.2 ¥15.1 ¥13.9 ¥14.5 ¥4.7 ¥6.5 ¥8.5 ¥10.4 ¥27.7 ¥13.9 ¥11.7 ¥13.4 ¥14.5 ¥16.0 ¥17.8 ¥15.0 ¥12.2 ¥13.1 ¥14.4 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: 2007: wwoods2 on PRODPC60 with ECOIND_CN 2008: ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... III ....... IV ........ I .......... II ......... III ....... IV ........ I .......... II ......... III ....... IV ........ I .......... II ......... III ....... IV ........ I r ......... 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,803.6 8,044.1 8,277.8 7,585.5 7,664.3 7,709.4 7,775.2 7,852.8 7,876.9 7,961.9 8,009.3 8,063.3 8,141.2 8,215.7 8,244.3 8,302.2 8,349.1 8,372.9 Total durable goods 720.3 804.6 863.3 900.7 964.8 1,020.6 1,084.8 1,137.4 1,180.5 1,235.4 1,091.5 1,110.1 1,116.0 1,146.3 1,163.5 1,123.8 1,167.8 1,170.2 1,186.3 1,197.6 1,223.2 1,228.4 1,241.9 1,248.1 1,229.1 Furniture and household equipment Motor vehicles and parts 339.0 372.4 386.5 405.8 429.0 442.1 450.8 451.3 437.3 446.9 450.9 457.8 449.6 464.4 470.7 420.4 435.7 434.3 439.5 439.6 451.5 448.2 442.3 445.4 429.7 244.7 280.7 312.9 331.8 364.3 397.8 445.1 492.2 550.9 593.6 451.7 460.8 472.6 483.4 499.0 513.8 536.8 544.4 555.4 566.9 579.9 585.9 601.0 607.7 609.2 Nondurable goods Other 137.6 151.7 163.9 163.2 172.4 183.2 195.1 205.5 213.9 222.2 195.9 198.7 202.9 207.3 204.6 207.4 214.5 212.4 213.6 215.2 216.6 220.2 227.2 224.9 222.9 Total nondurable goods 1,794.4 1,876.6 1,947.2 1,986.7 2,037.1 2,103.0 2,177.6 2,255.4 2,337.7 2,392.8 2,181.4 2,207.5 2,226.8 2,247.2 2,260.9 2,286.8 2,312.3 2,325.6 2,343.9 2,368.8 2,386.6 2,383.8 2,396.8 2,404.2 2,403.2 Food 865.6 893.6 925.2 940.2 954.6 977.7 1,009.4 1,050.0 1,091.8 1,117.0 1,008.9 1,024.7 1,032.9 1,043.1 1,056.3 1,067.6 1,080.7 1,084.4 1,091.4 1,110.7 1,115.3 1,111.4 1,115.0 1,126.4 1,130.7 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. Clothing and shoes 263.1 282.7 297.7 303.7 318.3 334.2 350.7 372.6 391.1 409.1 350.2 357.5 363.4 372.3 372.3 382.3 386.2 388.0 393.3 397.0 405.1 407.5 413.7 409.9 412.0 Gasoline and oil 170.3 176.3 175.7 178.3 181.9 183.2 186.7 186.1 186.8 183.1 186.5 187.0 187.8 186.1 184.3 186.1 187.2 187.1 188.3 184.8 184.1 182.8 183.2 182.1 179.8 Services Fuel oil and coal 16.0 16.4 15.8 15.2 15.5 15.4 14.6 13.2 12.0 13.1 14.6 14.0 14.2 13.5 13.0 12.3 11.6 12.1 11.8 12.4 14.1 13.1 12.4 12.7 12.0 Other 481.1 508.6 532.9 549.2 567.1 593.2 618.0 639.1 662.2 686.6 623.0 626.9 631.7 637.4 641.1 646.2 655.3 663.4 669.5 676.5 681.7 684.7 690.2 689.9 688.3 Total services 1 3,615.0 3,758.0 3,928.8 4,023.2 4,100.4 4,178.8 4,311.0 4,427.3 4,545.5 4,674.8 4,325.2 4,361.1 4,381.3 4,401.3 4,449.1 4,477.5 4,501.0 4,531.6 4,554.0 4,595.5 4,630.7 4,656.7 4,689.5 4,722.4 4,758.9 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00004 Fmt 3401 948.8 978.6 1,006.5 1,033.7 1,042.1 1,051.9 1,083.8 1,118.3 1,148.3 1,175.6 1,087.1 1,095.1 1,104.4 1,113.9 1,123.3 1,131.6 1,139.7 1,146.0 1,151.0 1,156.6 1,163.7 1,171.6 1,178.9 1,188.3 1,194.7 Source: Department of Commerce, Bureau of Economic Analysis. 4 VerDate Aug 31 2005 Housing Sfmt 3401 E:\HR\OC\ECOIND.004 ECOIND Medical care 970.7 989.0 1,026.8 1,075.2 1,136.6 1,180.8 1,216.5 1,258.2 1,300.3 1,336.0 1,223.2 1,233.5 1,240.4 1,250.3 1,264.0 1,278.1 1,291.2 1,298.2 1,301.4 1,310.5 1,323.2 1,330.8 1,338.0 1,352.1 1,369.1 Retail sales of new passenger cars and light trucks (millions of units) 15.5 16.9 17.3 17.1 16.8 16.6 16.9 16.9 16.5 16.1 17.0 17.2 16.5 17.3 17.9 16.0 16.8 16.4 16.5 16.3 16.4 16.0 15.9 16.1 15.2 SOURCES OF PERSONAL INCOME Personal income rose $225.7 billion (annual rate) in May following an increase of $33.5 billion in April. Wages and salaries rose $19.7 billion in May following a decrease of $5.7 billion in April. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. May ....... June ...... July ....... Aug ....... Sept ....... Oct ........ Nov ....... Dec ........ 2008: Jan r ....... Feb r ....... Mar r ...... Apr r ....... May p ..... 1 With wwoods2 on PRODPC60 with ECOIND_CN 2 With Total personal income Total 7,423.0 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,727.2 10,301.1 10,983.4 11,665.6 11,575.7 11,626.5 11,683.7 11,735.9 11,785.5 11,831.4 11,875.8 11,935.6 11,961.1 12,017.2 12,058.1 12,091.6 12,317.3 5,020.1 5,352.0 5,782.7 5,942.1 6,091.2 6,310.4 6,671.4 7,024.6 7,440.8 7,858.6 7,796.8 7,832.3 7,853.7 7,876.4 7,918.1 7,946.3 7,986.8 8,022.1 8,069.0 8,098.8 8,134.2 8,132.9 8,156.8 Wage and salary disbursements 4,183.4 4,466.3 4,829.2 4,942.8 4,980.9 5,112.7 5,394.5 5,667.9 6,018.2 6,366.1 6,314.1 6,344.2 6,358.6 6,376.8 6,412.9 6,435.2 6,470.0 6,500.0 6,534.4 6,558.3 6,587.9 6,582.2 6,601.9 836.7 885.7 953.4 999.3 1,110.3 1,197.7 1,276.9 1,356.8 1,422.6 1,492.5 1,482.6 1,488.1 1,495.1 1,499.6 1,505.2 1,511.1 1,516.8 1,522.1 1,534.6 1,540.5 1,546.3 1,550.6 1,554.9 Farm 29.4 28.6 22.7 19.7 10.6 29.2 37.3 30.8 19.4 36.2 33.1 34.4 36.2 38.7 41.0 42.1 43.7 45.7 41.4 37.9 32.7 34.8 37.8 inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. Nonfarm Personal income receipts on assets Rental income of persons 2 598.4 649.7 705.7 752.2 757.8 782.1 874.3 939.1 987.4 1,006.4 1,006.1 1,006.7 1,015.1 1,012.0 1,002.9 1,008.5 1,016.1 1,011.7 1,021.1 1,017.2 1,017.3 1,019.5 1,022.9 137.5 147.3 150.3 167.4 152.9 133.0 118.4 42.9 54.5 65.4 61.6 66.5 66.9 68.3 70.1 74.0 77.8 81.6 81.3 80.8 80.7 90.5 100.5 Total Personal interest income 1,283.2 1,264.2 1,387.0 1,380.0 1,333.2 1,336.6 1,432.1 1,617.8 1,796.5 1,947.2 1,930.1 1,941.5 1,959.0 1,976.3 1,993.2 1,996.5 1,999.9 2,003.1 2,003.3 2,004.5 2,005.3 2,005.9 2,006.9 933.2 928.6 1,011.0 1,011.0 936.1 914.1 895.1 1,018.9 1,100.2 1,154.7 1,148.4 1,151.8 1,161.5 1,171.1 1,180.8 1,177.0 1,173.2 1,169.4 1,165.3 1,161.1 1,156.9 1,153.1 1,149.2 Personal dividend income 349.9 335.6 376.1 369.0 397.2 422.6 537.0 598.9 696.3 792.5 781.7 789.7 797.5 805.1 812.4 819.5 826.6 833.7 838.1 843.4 848.4 852.8 857.6 Personal current transfer receipts 3 978.6 1,022.1 1,084.0 1,193.9 1,286.2 1,351.0 1,422.5 1,520.7 1,612.5 1,731.7 1,719.7 1,720.4 1,733.2 1,746.6 1,747.1 1,754.0 1,746.0 1,769.5 1,757.5 1,793.6 1,807.4 1,826.7 2,013.5 Less: Contributions for government social insurance 624.2 661.4 702.7 731.1 750.0 778.6 828.8 874.8 927.6 979.9 971.6 975.2 980.4 982.3 986.9 989.9 994.4 998.2 1,012.5 1,015.7 1,019.5 1,018.6 1,021.0 NOTE.—For information on the effects of the Economic Stimulus Act of 2008 on personal income data, see Personal Income and Outlays: May 2008, release dated June 27, 2008. Source: Department of Commerce, Bureau of Economic Analysis. 3 Consists 5 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00005 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.005 ECOIND g:\graphics\eecoind.005 Period Supplements to wages and salaries Proprietors’ income 1 DISPOSITION OF PERSONAL INCOME According to revised estimates, per capita disposable personal income in chained (2000) dollars rose at an annual rate of 0.6 percent in the first quarter of 2008. Personal income Period Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays 1 Equals: Personal saving Disposable personal income in billions of chained (2000) dollars Per capita disposable personal income Current dollars Billions of dollars 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ............ 7,423.0 ............ 7,802.4 ............ 8,429.7 ............ 8,724.1 ............ 8,881.9 ............ 9,163.6 ............ 9,727.2 ............ 10,301.1 ............ 10,983.4 ............ 11,665.6 Chained (2000) dollars Per capita personal consumption expenditures Current dollars Chained (2000) dollars Dollars 1,027.0 6,395.9 6,119.1 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 1,209.1 9,092.0 9,047.4 1,354.3 9,629.1 9,590.3 1,483.7 10,181.9 10,134.1 276.8 158.6 168.5 132.3 184.7 174.9 181.7 44.6 38.8 47.8 6,663.9 6,861.3 7,194.0 7,333.3 7,562.2 7,729.9 8,008.9 8,147.9 8,396.9 8,658.6 23,161 23,968 25,472 26,235 27,167 28,053 29,563 30,677 32,183 33,705 Percent change in real per capita disposable personal income Saving as percent of disposable personal income Population, including Armed Forces overseas (thousands) 2 Percent 24,131 24,564 25,472 25,697 26,238 26,566 27,274 27,492 28,064 28,663 21,291 22,491 23,862 24,722 25,504 26,476 27,911 29,381 30,831 32,223 22,183 23,050 23,862 24,215 24,632 25,073 25,750 26,330 26,885 27,402 4.6 1.8 3.7 .9 2.1 1.3 2.7 .8 2.1 2.1 4.3 2.4 2.3 1.8 2.4 2.1 2.1 .5 .4 .5 276,154 279,328 282,433 285,372 288,215 290,964 293,644 296,373 299,199 302,087 27,253 27,683 27,391 27,506 27,350 27,721 27,991 27,943 27,989 28,336 28,650 28,532 28,739 28,730 28,770 28,045 28,479 28,742 29,167 29,693 29,918 30,307 30,739 31,064 31,209 31,695 32,068 32,355 32,770 33,086 25,802 26,005 26,103 26,270 26,465 26,480 26,709 26,807 26,918 27,106 27,294 27,329 27,450 27,534 27,554 1.9 6.5 ¥4.2 1.7 ¥2.2 5.5 4.0 ¥.7 .7 5.1 4.5 ¥1.6 2.9 ¥.1 .6 1.8 2.5 1.0 .8 ¥.5 .8 .9 .3 .0 .4 1.0 .3 .4 .2 .4 293,991 294,722 295,342 295,969 296,719 297,462 298,101 298,774 299,568 300,351 301,004 301,667 302,452 303,225 303,868 2004: III .... IV .... 2005: I ....... II ..... III .... IV .... 2006: I ....... II ..... III .... IV .... 2007: I ....... II ..... III .... IV .... 2008: I r ..... 9,770.9 10,025.5 10,074.1 10,234.1 10,328.6 10,567.4 10,787.1 10,915.5 11,030.9 11,200.2 11,469.2 11,577.3 11,735.0 11,880.9 12,012.1 1,062.1 1,090.7 1,166.4 1,195.5 1,223.5 1,251.0 1,318.6 1,342.6 1,355.2 1,401.0 1,454.7 1,477.6 1,489.8 1,512.7 1,514.8 8,708.9 8,934.8 8,907.7 9,038.6 9,105.1 9,316.4 9,468.5 9,572.9 9,675.8 9,799.2 10,014.5 10,099.7 10,245.2 10,368.2 10,497.4 8,553.7 8,710.6 8,819.0 8,970.8 9,153.9 9,245.7 9,384.0 9,542.9 9,677.1 9,757.2 9,917.5 10,069.2 10,200.9 10,348.9 10,453.6 155.2 224.2 88.7 67.8 ¥48.8 70.8 84.5 30.0 ¥1.4 42.0 97.0 30.5 44.4 19.3 43.8 8,012.2 8,158.8 8,089.8 8,140.9 8,115.4 8,246.0 8,344.2 8,348.6 8,384.5 8,510.7 8,623.9 8,607.1 8,692.1 8,711.7 8,742.4 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. 29,623 30,316 30,161 30,539 30,686 31,320 31,763 32,041 32,299 32,626 33,270 33,480 33,874 34,193 34,546 Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 wwoods2 on PRODPC60 with ECOIND_CN Seasonally adjusted annual rates FARM INCOME According to the preliminary forecast for 2008, gross farm income is forecast at $371.5 billion, and net farm income at $92.3 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 wwoods2 on PRODPC60 with ECOIND_CN 1999 ................................ 2000 ................................ 2001 ................................ 2002 ................................ 2003 ................................ 2004 ................................ 2005 ................................ 2006 ................................ 2007 ................................ 2008 p .............................. 2006: I .......................... II ......................... III ........................ IV ........................ 2007: I .......................... II ......................... III ........................ IV ........................ 2008: I p ......................... II p ........................ III p ...................... IV p ....................... 234.9 243.7 251.9 232.8 260.0 296.0 299.6 291.5 345.7 371.5 298.3 284.4 288.3 294.9 335.6 340.7 347.9 358.4 407.8 365.0 352.1 360.9 Livestock and products 187.8 192.1 200.1 195.0 215.6 237.3 240.7 239.3 285.4 313.2 231.9 241.8 244.4 239.0 266.8 287.6 293.2 293.8 333.7 315.0 303.0 301.3 95.7 99.6 106.7 94.0 105.6 123.6 124.9 119.3 141.4 138.7 118.6 119.7 119.2 119.6 129.6 146.0 146.7 143.5 146.0 143.0 134.5 131.3 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 93.4 101.1 109.9 113.7 115.9 120.0 143.9 174.6 113.2 122.0 125.2 119.4 137.3 141.6 146.5 150.4 187.7 172.0 168.5 170.0 ¥0.2 1.6 1.1 ¥3.4 ¥2.4 11.2 ¥1.1 ¥1.6 5.7 .8 ¥1.5 ¥1.6 ¥1.6 ¥1.6 5.4 5.8 5.9 5.9 .8 .8 .8 .8 Direct Government payments 4 Production expenses 21.5 23.2 22.4 12.4 16.5 13.0 24.4 15.8 12.0 13.4 31.1 5.8 6.7 19.5 23.6 4.4 5.1 14.8 26.4 4.9 5.7 16.5 187.2 193.0 196.8 192.7 200.3 210.0 222.5 232.5 257.0 279.2 225.3 234.9 237.5 232.3 240.3 259.0 264.1 264.6 297.4 280.8 270.1 268.5 Net farm income 47.7 50.7 55.0 40.1 59.7 85.9 77.1 59.0 88.7 92.3 73.0 49.5 50.9 62.7 95.3 81.7 83.9 93.8 110.4 84.3 82.0 92.4 4 Includes only Government payments made directly to farmers. NOTE.—Data for 2008 are forecasts. Source: Department of Agriculture. 7 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00007 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.007 ECOIND g:\graphics\eecoind.007 Period CORPORATE PROFITS In the first quarter of 2008, according to revised estimates, corporate profits before tax fell $144.2 billion (annual rate) and profits after tax fell $111.7 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Profits (before tax) with inventory valuation adjustment 1 Profits after tax Domestic industries Nonfinancial Total 2 wwoods2 on PRODPC60 with ECOIND_CN Total Financial Total 3 Manufacturing Utilities Wholesale Retail Total Net dividends Undistributed profits Inventory valuation adjustment 1998 .......... 738.5 635.5 165.9 469.6 173.5 ................ 52.3 73.4 718.3 248.3 470.0 351.6 118.3 20.2 1998 4 ....... 1999 .......... 2000 .......... 2001 .......... 2002 .......... 2003 .......... 2004 .......... 2005 .......... 2006 .......... 2007 .......... 2004: III .. IV .. 2005: I ..... II ... III .. IV .. 2006: I ..... II ... III .. IV .. 2007: I ..... II ... III .. IV .. 2008: I r ... 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,543.4 1,769.5 1,830.5 1,159.7 1,244.3 1,513.0 1,559.3 1,495.4 1,605.9 1,708.8 1,784.6 1,816.2 1,768.2 1,775.6 1,876.8 1,859.4 1,810.5 1,637.6 635.5 655.3 613.6 549.5 610.4 729.0 968.2 1,325.2 1,512.2 1,493.0 954.7 1,065.4 1,309.0 1,347.6 1,255.0 1,389.3 1,466.7 1,525.2 1,566.4 1,490.4 1,477.7 1,562.1 1,518.3 1,413.7 1,263.6 165.4 194.3 200.2 227.6 276.4 317.3 348.9 423.6 505.3 498.5 292.4 405.7 464.8 429.3 364.8 435.6 478.7 521.0 500.3 521.0 493.0 546.4 514.2 440.3 435.9 470.1 461.1 413.4 322.0 334.0 411.8 619.3 901.6 1,006.9 994.5 662.4 659.6 844.2 918.4 890.2 953.8 987.9 1,004.2 1,066.1 969.5 984.7 1,015.7 1,004.1 973.4 827.7 157.0 150.6 144.3 52.6 48.2 76.0 152.7 251.2 293.4 305.7 158.4 170.0 244.2 244.9 252.5 263.1 276.1 298.0 319.5 280.2 298.9 347.0 296.8 280.3 224.3 32.7 33.1 24.4 24.7 10.6 11.6 18.6 28.4 35.7 44.4 18.6 22.8 30.2 30.4 19.9 32.9 31.7 35.3 37.8 37.8 36.4 41.2 46.4 53.7 36.1 53.2 55.5 59.7 52.1 49.3 55.2 79.2 95.2 97.0 98.7 91.4 76.8 89.0 107.4 87.2 97.4 93.3 85.4 118.1 91.1 97.8 104.9 109.8 82.2 57.0 66.4 65.2 59.6 71.0 79.4 86.8 91.1 114.4 124.5 137.5 87.7 89.2 99.6 122.6 108.5 126.9 119.4 119.6 126.9 132.1 134.3 134.4 140.2 141.3 130.6 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,579.6 1,805.8 1,876.7 1,199.3 1,291.5 1,558.3 1,578.7 1,528.3 1,653.0 1,740.2 1,842.3 1,851.4 1,789.2 1,815.8 1,931.5 1,879.7 1,879.9 1,735.7 248.3 258.6 265.2 204.1 192.6 243.3 307.4 392.9 453.9 466.6 302.5 337.3 389.0 393.8 373.1 415.6 432.8 460.0 470.4 452.4 452.5 490.1 469.4 454.4 421.8 470.0 517.2 508.2 503.8 575.8 664.8 897.3 1,186.7 1,351.9 1,410.1 896.7 954.2 1,169.4 1,184.9 1,155.2 1,237.3 1,307.3 1,382.4 1,381.0 1,336.8 1,363.3 1,441.4 1,410.2 1,425.5 1,313.8 351.6 337.4 377.9 370.9 399.2 424.7 539.5 601.4 698.9 795.2 528.5 654.8 566.0 588.1 612.6 638.7 662.5 685.6 711.1 736.4 759.4 784.2 807.7 829.4 846.2 118.3 179.9 130.3 132.9 176.6 240.1 357.8 585.3 653.0 614.9 368.3 299.3 603.4 596.8 542.6 598.6 644.9 696.8 670.0 600.3 603.9 657.2 602.5 596.1 467.7 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥36.2 ¥36.3 ¥46.2 ¥39.6 ¥47.2 ¥45.3 ¥19.4 ¥32.9 ¥47.0 ¥31.4 ¥57.7 ¥35.2 ¥21.0 ¥40.2 ¥54.7 ¥20.3 ¥69.4 ¥98.1 1 See p. 4 for profits with inventory valuation and capital consumption adjustments. rest of the world, not shown separately. industries not shown separately. 2 Includes 3 Includes 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00008 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.008 ECOIND g:\graphics\eecoind.008 Period Profits before tax Taxes on corporate income REAL GROSS PRIVATE DOMESTIC INVESTMENT In the first quarter of 2008, according to revised estimates, nonresidential fixed investment in chained (2000) dollars rose $1.9 billion (annual rate) and residential investment fell $29.3 billion. There was a decrease of $19.6 billion in inventories following a decrease of $18.3 billion in the fourth quarter. [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment Period wwoods2 on PRODPC60 with ECOIND_CN 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Change in private inventories Nonresidential Total Total Equipment and software Residential Structures Total Nonfarm ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................ 1,524.1 1,642.6 1,735.5 1,598.4 1,557.1 1,613.1 1,770.2 1,869.3 1,919.5 1,825.5 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,831.4 1,874.7 1,819.5 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,225.8 1,306.8 1,368.4 294.5 293.2 313.2 306.1 253.8 243.5 246.7 247.8 268.6 303.4 745.6 840.2 918.9 874.2 820.2 843.1 905.1 991.8 1,050.6 1,064.5 418.3 443.6 446.9 448.5 469.9 509.4 560.2 597.1 569.5 472.8 72.6 68.9 56.5 ¥31.7 12.5 14.3 54.3 33.2 40.3 4.5 71.2 71.5 57.8 ¥31.8 15.2 14.0 48.2 34.0 41.7 .0 2004: III ......................................................................... IV .......................................................................... 1,800.5 1,828.8 1,736.7 1,767.7 1,160.7 1,189.7 248.7 248.6 920.0 951.2 567.5 570.9 60.1 57.2 55.4 56.4 2005: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,852.6 1,834.3 1,865.3 1,924.9 1,785.3 1,819.8 1,854.9 1,865.6 1,199.5 1,214.1 1,239.5 1,250.0 249.8 248.9 244.8 247.7 960.0 977.4 1,011.1 1,018.7 578.3 596.4 606.4 607.2 63.4 10.1 5.9 53.6 69.0 11.5 3.9 51.6 2006: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,945.4 1,948.5 1,928.2 1,856.2 1,901.4 1,892.3 1,869.6 1,835.5 1,289.7 1,303.2 1,319.4 1,314.8 256.5 266.4 273.3 278.3 1,050.2 1,050.1 1,057.6 1,044.4 606.1 587.5 555.0 529.4 38.4 51.4 53.9 17.4 38.0 57.6 57.6 13.6 2007: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 2008: I r ........................................................................... 1,816.9 1,837.4 1,859.9 1,787.7 1,756.1 1,815.2 1,829.3 1,826.0 1,807.5 1,775.3 1,321.7 1,356.6 1,387.3 1,407.8 1,409.7 282.6 299.5 311.1 320.3 321.3 1,045.3 1,057.4 1,073.5 1,081.7 1,082.3 506.3 490.7 463.3 430.9 401.6 .1 5.8 30.6 ¥18.3 ¥19.6 ¥5.8 1.3 26.0 ¥21.7 ¥18.9 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Total fixed investment Structures Information processing equipment and software 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 ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,831.4 1,874.7 1,819.5 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,225.8 1,306.8 1,368.4 294.5 293.2 313.2 306.1 253.8 243.5 246.7 247.8 268.6 303.4 745.6 840.2 918.9 874.2 820.2 843.1 905.1 991.8 1,050.6 1,064.5 328.9 398.5 467.6 459.0 437.4 462.7 505.7 554.3 595.9 645.5 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 129.4 157.2 176.2 173.8 169.7 177.3 193.6 205.7 213.0 227.0 143.2 158.0 190.0 181.7 161.1 167.1 181.1 191.5 204.8 215.3 148.1 147.9 159.2 145.7 134.5 138.4 134.0 144.3 149.6 151.7 145.4 167.7 160.8 142.8 126.0 113.8 130.6 145.1 155.2 136.7 125.7 126.7 131.2 126.9 122.9 130.4 138.3 151.9 156.2 148.9 418.3 443.6 446.9 448.5 469.9 509.4 560.2 597.1 569.5 472.8 411.9 436.6 439.5 441.1 462.2 501.2 551.2 587.7 560.0 463.7 218.1 234.2 236.8 237.1 246.3 272.6 305.3 328.3 302.7 218.9 6.4 7.0 7.4 7.4 7.7 8.1 9.0 9.3 9.7 9.6 2004: III ................... IV .................... 1,736.7 1,767.7 1,160.7 1,189.7 248.7 248.6 920.0 951.2 507.5 521.7 ............. ............. 193.9 199.3 181.2 181.0 136.9 138.7 137.0 147.9 140.8 144.5 567.5 570.9 558.5 561.7 310.1 310.1 9.1 9.2 2005: I ...................... II ..................... III ................... IV .................... 1,785.3 1,819.8 1,854.9 1,865.6 1,199.5 1,214.1 1,239.5 1,250.0 249.8 248.9 244.8 247.7 960.0 977.4 1,011.1 1,018.7 537.4 548.8 560.5 570.6 ............. ............. ............. ............. 201.6 206.0 206.7 208.3 188.9 188.3 194.6 194.2 142.8 139.4 145.9 149.2 138.2 142.0 153.2 147.0 145.7 151.6 154.2 156.1 578.3 596.4 606.4 607.2 569.1 587.1 597.0 597.6 317.5 325.7 332.3 337.9 9.2 9.3 9.3 9.5 2006: I ...................... II ..................... III ................... IV .................... 1,901.4 1,892.3 1,869.6 1,835.5 1,289.7 1,303.2 1,319.4 1,314.8 256.5 266.4 273.3 278.3 1,050.2 1,050.1 1,057.6 1,044.4 589.8 592.1 602.0 599.6 ............. ............. ............. ............. 211.0 212.1 213.8 215.1 206.3 203.3 207.1 202.6 147.0 152.0 150.9 148.4 160.3 153.3 156.3 150.9 157.8 157.9 155.2 153.7 606.1 587.5 555.0 529.4 596.3 577.9 545.5 520.1 338.5 318.8 291.1 262.4 9.7 9.7 9.7 9.6 2007: I ...................... II ..................... III ................... IV .................... 1,815.2 1,829.3 1,826.0 1,807.5 1,321.7 1,356.6 1,387.3 1,407.8 282.6 299.5 311.1 320.3 1,045.3 1,057.4 1,073.5 1,081.7 623.3 638.5 648.7 671.3 ............. ............. ............. ............. 219.9 225.6 228.0 234.5 209.2 213.4 216.8 221.9 147.3 152.9 156.0 150.6 144.8 135.3 136.3 130.3 144.8 148.0 150.2 152.7 506.3 490.7 463.3 430.9 497.1 481.6 454.3 422.1 240.2 231.2 215.5 188.8 9.6 9.5 9.6 9.5 2008: I r ..................... 1,775.3 1,409.7 321.3 1,082.3 684.6 ............. 240.7 222.0 151.9 125.4 147.6 401.6 392.9 164.5 9.4 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 Con- Manuand Min- Utili- strucfacagriing ties turtion culing tural services ProFor Real fesscomTransesional, Health panies portaFiscien- care withWhole- Retail tion Infor- nance tate and tific, and Other 1 out sale and maand rental trade and social emtrade waretion insur- and assisployhousance leas- technical tance ees ing ing services wwoods2 on PRODPC60 with ECOIND_CN For companies with employees 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ 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 1,309.4 1,216.6 2.7 98.3 70.0 30.3 191.0 42.9 86.9 67.4 104.6 169.4 122.4 30.3 75.4 124.9 92.8 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In June, employment fell by 155,000 and unemployment rose by 12,000. [Thousands of persons 16 years of age and over, except as noted; monthly data seasonally adjusted except as noted by NSA] Civilian employment 1998 2 .................... 1999 2 .................... 2000 2 .................... 2001 ..................... 2002 ...................... 2003 2 .................... 2004 2 .................... 2005 2 .................... 2006 2 .................... 2007 2 .................... 2007: June .......... July ........... Aug ........... Sept ........... Oct ............ Nov ............ Dec ............ 2008: Jan 2 .......... Feb ............ Mar ............ Apr ............. May ............ June ........... Civilian noninstitutional population (NSA) Civilian labor force 205,220 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 231,867 231,713 231,958 232,211 232,461 232,715 232,939 233,156 232,616 232,809 232,995 233,198 233,405 233,627 137,673 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 153,124 153,085 153,182 152,886 153,506 153,306 153,828 153,866 153,824 153,374 153,784 153,957 154,534 154,390 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years 131,463 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 146,047 146,087 146,045 145,753 146,260 146,016 146,647 146,211 146,248 145,993 145,969 146,331 146,046 145,891 67,135 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 75,337 75,292 75,324 75,274 75,332 75,274 75,834 75,499 75,427 75,362 75,197 75,148 75,001 74,998 57,278 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,799 64,828 64,792 64,826 65,033 64,827 65,980 64,912 65,098 64,950 65,055 65,260 65,138 65,238 7,051 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 5,911 5,968 5,930 5,653 5,895 5,914 5,832 5,801 5,724 5,681 5,717 5,923 5,907 5,655 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 Total 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 6,997 7,137 7,133 7,246 7,291 7,181 7,655 7,576 7,381 7,815 7,626 8,487 8,499 2,580 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,259 3,212 3,295 3,252 3,357 3,389 3,240 3,505 3,437 3,386 3,641 3,628 3,877 4,038 Women 20 years and over Both sexes 16–19 years 2,424 2,285 2,235 2,599 3,228 3,314 3,150 3,013 2,751 2,718 2,653 2,774 2,790 2,762 2,796 2,796 2,954 2,885 2,865 3,104 2,916 3,252 3,208 1,205 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,101 1,133 1,067 1,092 1,126 1,105 1,145 1,196 1,254 1,130 1,070 1,082 1,358 1,253 Not in labor force Labor force participation rate Employment/ population ratio Unemployment rate 67.1 67.1 67.1 66.8 66.6 66.2 66.0 66.0 66.2 66.0 66.1 66.0 65.8 66.0 65.9 66.0 66.0 66.1 65.9 66.0 66.0 66.2 66.1 64.1 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.0 63.0 63.0 62.8 62.9 62.7 63.0 62.7 62.9 62.7 62.6 62.7 62.6 62.4 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.6 4.7 4.7 4.7 4.8 4.7 5.0 4.9 4.8 5.1 5.0 5.5 5.5 67,547 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 78,743 78,628 78,776 79,325 78,955 79,409 79,111 79,290 78,792 79,436 79,211 79,241 78,872 79,237 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 wwoods2 on PRODPC60 with ECOIND_CN Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In June, the unemployment rate was unchanged from May at 5.5 percent. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 wwoods2 on PRODPC60 with ECOIND_CN Period All civilian workers 1998 ......................... 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2007 ......................... 2007: June ............. July .............. Aug .............. Sept .............. Oct ............... Nov .............. Dec ............... 2008: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. Men 20 years and over Women 20 years and over 3.7 3.5 3.3 4.2 5.3 5.6 5.0 4.4 4.0 4.1 4.1 4.2 4.1 4.3 4.3 4.1 4.4 4.4 4.3 4.6 4.6 4.9 5.1 4.1 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.0 3.9 4.1 4.1 4.1 4.1 4.1 4.4 4.2 4.2 4.6 4.3 4.8 4.7 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.6 4.7 4.7 4.7 4.8 4.7 5.0 4.9 4.8 5.1 5.0 5.5 5.5 Both sexes 16–19 years White 14.6 13.9 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.7 16.0 15.3 16.2 16.0 15.7 16.4 17.1 18.0 16.6 15.8 15.4 18.7 18.1 3.9 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 4.1 4.2 4.2 4.2 4.2 4.2 4.4 4.4 4.3 4.5 4.4 4.9 4.9 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 8.9 8.0 7.6 8.6 10.2 10.8 10.4 10.0 8.9 8.3 8.4 8.1 7.7 8.2 8.5 8.4 9.0 9.2 8.3 9.0 8.6 9.7 9.2 .......... .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.2 3.1 3.0 3.4 3.2 3.7 3.6 3.7 3.2 3.0 3.6 3.2 3.8 4.5 7.2 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.6 5.7 5.9 5.5 5.7 5.6 5.7 6.3 6.3 6.2 6.9 6.9 6.9 7.7 Married men, spouse present 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00012 Fmt 3401 Full-time workers Part-time workers 7.2 6.4 5.9 6.6 8.0 8.5 8.0 7.8 7.1 6.5 6.8 6.8 6.2 6.4 6.3 6.6 6.9 7.0 6.7 7.1 6.8 6.9 7.9 4.3 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.6 4.5 4.6 4.6 4.7 4.7 4.6 4.9 4.8 4.8 5.0 5.0 5.5 5.5 5.3 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 4.9 4.7 5.1 4.9 4.7 5.0 5.0 5.6 5.4 5.0 5.3 4.9 5.5 5.4 2.4 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 2.4 2.7 2.5 2.5 2.6 2.6 2.7 2.7 2.7 2.8 2.8 2.9 3.0 NOTE.—Data relate to persons age 16 years and over. Source: Department of Labor, Bureau of Labor Statistics. 12 VerDate Aug 31 2005 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 June, the percentage of the unemployed who had been out of work for less than 5 weeks fell; the percentages for over 5–14 weeks, for 15–26 weeks and for 27 weeks and over rose. The mean duration of unemployment rose to 17.5 weeks and the median duration rose to 10.0 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 1998 ........................................ 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2007 ........................................ 2007: June ............................ July ............................. Aug .............................. Sept ............................. Oct .............................. Nov .............................. Dec .............................. 2008: Jan .............................. Feb .............................. Mar .............................. Apr ............................... May .............................. June ............................. 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 6,997 7,137 7,133 7,246 7,291 7,181 7,655 7,576 7,381 7,815 7,626 8,487 8,499 42.2 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 35.9 36.1 35.1 36.3 34.9 34.2 36.6 36.5 35.0 35.6 36.0 32.7 38.2 31.4 31.4 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 31.5 30.8 31.2 30.6 32.1 33.5 30.0 30.5 31.8 32.3 32.8 32.8 29.1 34.8 12.3 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 15.0 16.4 15.3 15.6 15.3 14.4 14.1 15.5 14.9 14.6 14.5 16.7 14.4 15.4 14.1 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 17.6 16.7 18.4 17.4 17.6 17.9 19.3 17.5 18.3 17.5 16.7 17.8 18.3 18.4 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. 14.5 13.4 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.8 16.8 17.3 16.9 16.6 17.0 17.2 16.6 17.5 16.8 16.2 16.9 16.6 17.5 6.7 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.5 8.3 8.9 8.6 8.9 8.7 8.7 8.4 8.8 8.4 8.1 9.3 8.3 10.0 45.5 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 49.7 49.0 50.8 51.1 49.6 50.9 50.0 50.1 50.7 52.2 53.7 52.7 50.7 51.7 11.8 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.2 11.6 11.5 11.2 11.5 10.8 10.8 10.4 11.1 10.4 10.1 11.2 10.3 9.9 34.3 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.3 30.4 29.2 29.2 29.5 28.7 29.9 30.4 29.4 28.6 27.4 28.0 29.1 29.6 8.4 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 8.9 9.0 8.4 8.5 9.4 9.7 9.3 9.1 8.9 8.8 8.8 8.2 9.8 8.9 2,222 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,571 2,529 2,550 2,579 2,553 2,573 2,620 2,696 2,718 2,776 2,910 3,012 3,096 .............. 321 298 301 404 407 404 345 328 313 324 318 309 324 319 329 339 344 337 346 374 365 r 369 p 391 2,257 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,609 2,279 2,703 2,269 r 2,343 2,256 r 2,273 r 3,071 3,270 3,256 3,553 3,037 2,673 ................. 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 wwoods2 on PRODPC60 with ECOIND_CN Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey fell by 62,000 in June. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries Period .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. June ....... July ........ Aug ........ Sept ....... Oct ......... Nov ........ Dec ......... 2008: Jan ......... Feb ........ Mar ........ Apr r ....... May r ....... June p ..... wwoods2 on PRODPC60 with ECOIND_CN 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007: 125,930 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,086 137,623 137,625 138,682 137,756 137,837 137,977 138,037 138,078 138,002 137,919 137,831 137,764 137,702 137,640 Total 2 24,354 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,531 22,221 22,267 22,242 22,176 22,138 22,101 22,049 21,976 21,907 21,816 21,737 21,628 21,574 21,505 Construction 6,149 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,691 7,614 7,656 7,632 7,605 7,589 7,577 7,520 7,465 7,426 7,382 7,343 7,284 7,247 7,204 Manufacturing 17,560 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,155 13,884 13,890 13,884 13,844 13,822 13,797 13,794 13,772 13,737 13,690 13,644 13,592 13,570 13,537 Service-providing industries Trade, transportation, and utilities Total 101,576 104,528 107,136 107,952 107,784 108,183 109,553 111,513 113,556 115,402 115,358 115,440 115,580 115,699 115,876 115,988 116,102 116,095 116,103 116,094 116,136 116,128 116,135 Total 3 Retail trade 25,186 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,276 26,608 26,600 26,617 26,640 26,649 26,644 26,693 26,658 26,631 26,579 26,552 26,496 26,458 26,449 14,609 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,353 15,491 15,484 15,489 15,502 15,487 15,469 15,513 15,488 15,472 15,429 15,401 15,356 15,333 15,326 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. Information 3,218 3,419 3,630 3,629 3,395 3,188 3,118 3,061 3,038 3,029 3,033 3,027 3,024 3,031 3,027 3,022 3,018 3,014 3,016 3,013 3,007 3,004 3,000 Financial activities 7,462 7,648 7,687 7,808 7,847 7,977 8,031 8,153 8,328 8,308 8,317 8,331 8,312 8,294 8,283 8,260 8,252 8,244 8,231 8,231 8,229 8,226 8,216 Profes- Educasional tion Leisure and and and busihealth hospiness tality services services 15,147 15,957 16,666 16,476 15,976 15,987 16,394 16,954 17,566 17,962 17,935 17,958 17,979 18,000 18,070 18,079 18,131 18,101 18,073 18,014 18,031 17,982 17,931 14,446 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,826 18,327 18,314 18,360 18,422 18,451 18,490 18,522 18,568 18,617 18,665 18,709 18,757 18,801 18,830 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00014 Fmt 3401 Government Total 4,976 5,087 5,168 5,258 5,372 5,401 5,409 5,395 5,438 5,491 5,496 5,501 5,497 5,495 5,496 5,506 5,507 5,508 5,517 5,522 5,525 5,528 5,527 19,909 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,974 22,203 22,202 22,170 22,212 22,227 22,262 22,278 22,333 22,336 22,362 22,377 22,401 22,430 22,459 Federal 2,772 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,732 2,727 2,720 2,726 2,724 2,721 2,722 2,728 2,735 2,717 2,725 2,726 2,734 2,741 2,745 2 Includes natural resources and mining, not shown separately. 3 Includes wholesale trade, transportation and warehousing, and utilities, not shown separately. NOTE.—Data classified by industry based on the 2007 North American Industry Classification System (NAICS). For details see Employment and Earnings. Source: Department of Labor, Bureau of Labor Statistics. 14 VerDate Aug 31 2005 11,232 11,543 11,862 12,036 11,986 12,173 12,493 12,816 13,110 13,474 13,461 13,476 13,494 13,552 13,604 13,628 13,635 13,644 13,660 13,676 13,690 13,699 13,723 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007: ..................... ..................... .................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... May ........... June .......... July ........... Aug ........... Sept .......... Oct ............ Nov ........... Dec ........... 2008: Jan ........... Feb ........... Mar ........... Apr r .......... May r ......... June p ........ 34.5 34.3 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.8 33.8 33.9 33.8 33.8 33.8 33.8 33.8 33.8 33.7 33.7 33.8 33.8 33.7 33.7 Total 41.4 41.4 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.2 41.1 41.4 41.4 41.3 41.4 41.2 41.3 41.1 41.1 41.1 41.2 41.0 40.9 40.8 Average gross weekly earnings Total private nonagricultural 1 Current dollars Overtime 4.9 4.9 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.2 4.1 4.3 4.2 4.2 4.2 4.1 4.1 4.0 4.0 4.0 4.0 4.0 3.9 3.9 $13.01 13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 17.42 17.34 17.41 17.47 17.51 17.57 17.59 17.64 17.70 17.75 17.81 17.87 17.89 17.95 18.01 1982 dollars 2 Total private nonagricultural 1 Manufacturing $7.89 8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.32 8.31 8.32 8.33 8.35 8.35 8.34 8.27 8.27 8.26 8.29 8.28 8.27 8.24 .............. $13.45 13.85 14.32 14.76 15.29 15.74 16.14 16.56 16.81 17.26 17.23 17.28 17.30 17.33 17.34 17.34 17.40 17.41 17.49 17.55 17.61 17.62 17.66 17.73 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). Percent change from a year earlier, total private nonagricultural Current dollars Current dollars 1982 dollars 2 Manufacturing Construction Retail trade $448.56 463.15 481.01 493.79 506.75 518.06 529.09 544.33 567.87 589.72 586.09 590.20 590.49 591.84 593.87 594.54 596.23 598.26 598.18 600.20 604.01 604.68 604.92 606.94 $272.18 275.03 275.97 275.71 279.20 279.13 277.88 276.17 279.19 281.82 280.83 282.17 281.65 282.30 282.20 281.72 279.67 279.53 278.27 279.21 279.96 279.62 277.75 .............. $557.09 573.25 590.77 595.19 618.75 635.99 658.49 673.33 691.02 711.36 708.15 715.39 716.22 715.73 717.88 714.41 718.62 715.55 718.84 721.31 725.53 722.42 722.29 723.38 $629.75 655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.21 816.06 813.40 818.75 814.57 815.19 821.57 821.73 828.92 830.70 829.54 830.89 838.68 840.24 837.23 842.74 $310.34 321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.02 385.20 383.17 385.05 384.98 385.28 387.47 387.09 386.86 385.58 386.56 386.48 388.37 388.07 387.99 387.39 Current dollars 3.9 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 3.8 4.1 4.1 3.7 3.7 4.1 3.5 3.8 3.4 3.4 3.7 3.3 3.5 3.2 2.8 1982 dollars 2.5 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 .9 1.3 1.5 1.4 1.9 1.2 ¥.3 ¥.8 ¥1.0 ¥1.4 ¥.8 ¥.9 ¥.7 ¥1.1 .............. 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 12 months earlier Wages and salaries Benefits 1 Total compensation Wages and salaries Benefits 1 Not seasonally adjusted 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. 77.5 80.2 83.6 87.3 90.0 93.6 97.2 100.0 103.2 106.3 80.6 83.5 86.7 89.9 92.2 95.1 97.6 100.0 103.2 106.6 70.2 72.6 76.7 81.3 84.7 90.2 96.2 100.0 103.1 105.6 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Seasonally adjusted wwoods2 on PRODPC60 with ECOIND_CN 2005: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2006: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2007: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2008: Mar ................................................................. 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 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 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 0.9 .6 .7 .7 .6 .8 .9 .8 .7 .8 .8 .9 .8 3.5 3.5 4.2 4.1 3.1 4.0 3.8 2.9 3.2 3.0 3.9 3.6 3.8 3.8 2.6 3.1 2.6 2.5 3.2 3.3 2.5 3.4 5.6 5.2 4.2 6.5 6.7 4.0 3.1 2.4 Not seasonally adjusted 0.6 .5 .6 .7 .7 .8 .9 .8 1.0 .8 .8 .8 .8 1.6 .8 .9 .6 .5 .8 .9 .9 ¥.3 1.1 .8 .8 .6 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 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 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 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 Hours of all persons 2 Nonfarm business sector Business sector Compensation per hour 3 Nonfarm business sector Nonfarm business sector 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 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 p * ............... 109.5 112.8 116.1 119.1 123.9 128.7 132.4 135.0 136.4 139.0 134.3 134.3 135.9 135.5 136.3 136.7 136.1 136.5 136.8 138.1 140.3 140.6 141.4 109.4 112.5 115.7 118.6 123.5 128.0 131.6 134.1 135.4 137.9 133.4 133.5 135.0 134.5 135.2 135.7 135.1 135.6 136.1 137.0 139.0 139.6 140.5 128.6 135.2 140.5 141.0 143.1 147.5 153.7 159.3 164.3 168.1 157.2 158.5 160.6 161.0 163.2 164.2 164.4 165.5 165.6 167.3 169.7 169.7 170.0 128.9 135.6 140.8 141.3 143.4 147.8 153.9 159.5 164.5 168.4 157.4 158.6 160.8 161.2 163.4 164.4 164.7 165.7 165.9 167.6 169.9 170.0 170.3 117.5 119.8 121.0 118.4 115.4 114.6 116.1 118.0 120.5 121.0 117.0 118.0 118.2 118.8 119.7 120.1 120.8 121.2 121.0 121.2 120.9 120.7 120.2 117.9 120.5 121.7 119.2 116.1 115.4 117.0 118.9 121.5 122.1 118.0 118.8 119.1 119.8 120.8 121.2 121.9 122.2 121.9 122.4 122.3 121.8 121.2 119.9 125.8 134.7 140.3 145.3 151.2 156.9 163.2 169.6 178.3 161.4 161.6 164.1 165.4 168.3 168.1 168.7 173.5 176.1 177.1 178.7 181.2 183.3 119.6 125.2 134.2 139.5 144.6 150.4 155.9 162.1 168.5 177.1 160.3 160.8 163.2 164.3 167.0 167.0 167.6 172.5 175.2 175.8 177.2 180.1 182.3 105.2 108.1 112.0 113.5 115.7 117.7 119.0 119.7 120.5 123.2 120.2 119.6 119.5 119.3 120.8 119.6 118.9 122.7 123.5 122.8 123.1 123.3 123.4 104.9 107.6 111.6 112.8 115.1 117.1 118.2 118.9 119.7 122.3 119.4 119.0 118.9 118.5 119.9 118.8 118.1 122.0 122.8 121.9 122.0 122.5 122.7 109.5 111.5 116.0 117.9 117.3 117.5 118.5 120.9 124.4 128.3 120.2 120.4 120.8 122.0 123.4 123.0 123.9 127.1 128.7 128.3 127.4 128.9 129.6 109.3 111.3 116.0 117.7 117.1 117.5 118.5 120.9 124.5 128.4 120.2 120.5 120.9 122.1 123.5 123.1 124.0 127.2 128.8 128.4 127.5 129.0 129.7 109.7 110.7 112.7 114.9 116.1 117.8 120.8 124.5 128.2 131.0 123.1 123.9 125.0 126.1 127.0 128.0 128.7 128.9 130.2 130.9 131.0 131.7 132.3 109.9 111.1 113.3 115.4 116.7 118.3 121.1 125.1 128.9 131.3 123.6 124.5 125.6 126.8 127.7 128.9 129.4 129.5 130.6 131.3 131.3 131.9 132.6 3.1 1.8 4.2 1.4 ¥.5 .3 .9 2.1 2.9 3.2 ¥1.0 .5 4.4 4.7 .0 1.0 1.3 4.3 4.5 ¥1.3 3.1 10.7 5.0 ¥1.3 ¥2.5 4.7 2.2 0.6 .9 1.8 2.0 1.0 1.5 2.6 3.1 2.9 2.2 3.4 3.6 1.8 3.5 3.4 2.6 3.5 3.7 2.8 3.3 2.1 .8 4.1 2.2 .3 1.9 2.0 0.7 1.1 1.9 1.9 1.1 1.3 2.4 3.4 3.0 1.9 3.4 3.0 2.4 3.8 3.8 2.7 3.8 3.7 3.0 3.7 1.6 .3 3.6 2.1 .1 1.6 2.3 Percent change; quarterly data at seasonally adjusted annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: 2007: 2008: ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I p * ............... 2.8 3.1 2.9 2.5 4.1 3.8 2.9 2.0 1.0 1.9 2.4 3.7 1.2 2.1 2.8 ¥.2 4.8 ¥1.0 2.4 1.0 ¥1.7 1.2 .9 3.8 6.4 .9 2.4 2.8 2.9 2.8 2.5 4.1 3.7 2.8 1.9 1.0 1.8 .9 4.5 1.1 .6 3.4 .5 4.5 ¥1.5 2.2 1.3 ¥1.6 1.4 1.3 2.7 6.0 1.8 2.6 4.8 5.1 3.9 .3 1.5 3.1 4.2 3.6 3.1 2.3 3.7 4.4 4.0 3.0 3.7 3.3 5.5 1.0 5.5 2.5 .6 2.6 .2 4.4 5.7 .1 .6 5.0 5.2 3.8 .4 1.5 3.1 4.1 3.6 3.2 2.3 2.6 5.0 3.8 2.6 3.9 3.2 5.6 .9 5.7 2.4 .8 2.6 .3 4.2 5.6 .2 .7 2.0 2.0 1.0 ¥2.2 ¥2.5 ¥.7 1.3 1.6 2.1 .4 1.2 .7 2.7 .9 .9 3.5 .7 2.0 3.0 1.5 2.3 1.4 ¥.8 .5 ¥.7 ¥.7 ¥1.7 2.1 2.2 1.0 ¥2.0 ¥2.6 ¥.6 1.3 1.7 2.2 .5 1.7 .4 2.8 2.1 .5 2.7 1.0 2.5 3.4 1.1 2.4 1.1 ¥.9 1.5 ¥.4 ¥1.6 ¥1.8 wwoods2 on PRODPC60 with ECOIND_CN 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. 6.1 4.9 7.1 4.2 3.5 4.1 3.8 4.0 4.0 5.1 .6 4.8 5.4 6.4 3.0 .5 6.2 3.2 7.1 ¥.5 1.5 11.9 6.2 2.4 3.7 5.6 4.8 6.0 4.7 7.2 4.0 3.6 4.0 3.6 4.0 3.9 5.1 ¥.1 5.0 5.5 5.3 3.4 1.5 5.9 2.7 6.9 .0 1.5 12.3 6.4 1.3 3.3 6.6 4.9 4.6 2.8 3.6 1.4 1.9 1.8 1.0 .6 .7 2.2 ¥2.7 1.7 2.5 2.2 1.2 ¥2.3 ¥.1 ¥.8 5.2 ¥3.9 ¥2.4 13.6 2.5 ¥2.1 .9 .6 .4 4.5 2.6 3.7 1.1 2.0 1.8 .9 .6 .6 2.2 ¥3.4 1.8 2.5 1.1 1.6 ¥1.4 ¥.4 ¥1.2 4.9 ¥3.5 ¥2.5 14.0 2.7 ¥3.2 .6 1.5 .6 3.2 1.8 4.1 1.6 ¥.5 .2 .9 2.0 2.9 3.2 ¥1.7 1.1 4.1 4.3 .2 .8 1.3 4.3 4.6 ¥1.5 3.2 10.6 5.2 ¥1.4 ¥2.6 4.7 2.3 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 May 29, 2008. Source: Department of Labor, Bureau of Labor Statistics. 16 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 May. [Monthly data seasonally adjusted] Percent Period wwoods2 on PRODPC60 with ECOIND_CN 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 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 Other (nonNAICS) 1 Mining Utilities Total industry Total manufacturing ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 95.4 99.5 103.7 100.1 100.0 101.2 103.8 107.2 109.6 111.4 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 5.9 4.3 4.2 ¥3.4 ¥.1 1.2 2.5 3.3 2.2 1.7 95.1 99.9 104.4 100.1 100.0 101.3 104.2 108.4 111.1 112.9 90.2 97.8 105.2 100.5 100.0 102.7 106.9 112.7 117.9 121.0 101.0 101.7 102.2 98.9 100.0 100.1 102.0 104.8 105.6 106.6 107.8 110.9 112.6 105.7 100.0 97.1 97.9 98.5 94.3 92.9 107.2 101.6 104.2 104.8 100.0 100.2 99.6 98.3 101.4 r 101.4 92.0 94.7 97.4 97.0 100.0 101.9 103.3 105.5 104.8 108.2 82.8 81.9 81.8 76.3 74.8 76.0 78.0 80.2 80.9 81.0 81.8 80.7 80.1 73.9 72.8 74.0 76.3 78.6 79.4 79.4 2007: May ............. June ............ July ............. Aug ............. Sept ............ Oct .............. Nov ............. Dec r ............ 111.0 111.4 112.0 112.0 112.3 111.8 112.3 112.4 0.0 .3 .6 .0 .3 ¥.4 .4 .1 1.5 1.4 1.7 1.6 2.2 1.9 2.5 2.0 112.6 113.2 114.1 113.6 114.0 113.5 113.8 113.8 120.2 121.5 122.9 122.4 122.4 122.2 122.9 122.8 106.6 106.6 107.1 106.6 107.3 106.7 106.6 106.8 93.2 93.5 93.2 92.8 93.2 92.2 91.7 91.9 100.6 100.9 101.5 101.2 101.3 101.3 102.9 103.9 107.7 106.5 105.6 109.3 109.0 108.4 109.1 108.2 80.9 81.0 81.4 81.2 81.3 80.8 81.1 81.0 79.4 79.6 80.1 79.6 79.8 79.2 79.3 79.2 2008: Jan r ............ Feb r ............ Mar r ............ Apr r ............ May p ........... 112.5 111.8 111.9 111.1 110.9 .1 ¥.6 .1 ¥.7 ¥.2 2.5 1.2 1.4 .1 ¥.1 113.8 113.0 113.3 112.3 112.3 122.8 122.1 122.1 120.4 120.5 106.8 106.0 106.4 106.1 106.1 91.3 90.5 91.2 89.9 88.8 103.3 103.6 103.2 102.7 102.8 110.6 109.0 109.0 109.0 107.0 81.0 80.3 80.3 79.6 79.4 79.1 78.4 78.5 77.7 77.5 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. 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 Final products Consumer goods Equipment Durable goods Business equipment Period Total Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Nondurable goods Materials Nonindustrial supplies Total 1 Defense and space equipment Total Construction supplies Business supplies Total 1 Energy ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ 97.2 99.9 103.0 101.0 100.0 101.2 103.4 107.7 110.5 112.8 95.5 97.5 99.4 98.2 100.0 101.3 102.6 105.5 105.8 107.5 89.7 96.3 99.2 94.8 100.0 103.2 104.3 104.9 103.6 103.2 98.1 98.0 99.5 99.5 100.0 100.5 101.9 105.5 106.4 108.8 101.7 105.9 111.8 107.8 100.0 100.9 105.3 113.6 123.1 127.1 100.6 106.5 114.8 108.2 100.0 99.7 104.9 112.6 124.3 128.4 105.0 102.1 92.1 100.3 100.0 106.3 105.5 116.6 112.9 117.1 97.2 100.8 104.7 100.4 100.0 101.1 103.3 107.1 108.3 107.9 99.8 102.4 104.7 100.1 100.0 99.6 101.8 106.4 108.8 r 106.0 96.2 100.3 104.7 100.5 100.0 101.7 103.9 107.4 108.1 108.7 92.9 98.6 103.9 99.2 100.0 101.3 104.3 106.8 109.2 111.3 100.4 99.9 101.5 100.3 100.0 100.0 99.6 98.4 99.9 101.6 2007: May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov .................................................. Dec r ................................................. 112.4 112.9 113.7 113.4 114.0 113.0 113.3 113.5 107.3 107.6 108.2 107.9 108.4 107.3 107.4 107.4 103.6 105.0 105.8 104.6 103.5 102.4 102.9 102.7 108.4 108.3 108.9 108.9 109.9 108.8 108.8 108.8 126.0 127.2 128.3 128.0 128.9 128.1 128.9 129.8 127.2 128.3 129.6 129.4 130.5 129.9 130.2 131.2 115.7 117.4 118.1 117.9 118.4 118.3 120.2 119.9 107.9 108.2 108.2 108.3 108.4 107.9 107.9 107.6 106.5 107.3 107.4 107.1 106.6 105.4 104.5 104.2 108.4 108.5 108.5 108.7 109.1 108.8 109.2 108.9 110.7 111.0 111.8 112.0 112.0 112.2 113.0 113.1 100.8 100.5 100.8 102.1 101.6 102.5 103.3 104.1 2008: Jan r ................................................. Feb r ................................................. Mar r ................................................ Apr r ................................................. May p ................................................ 113.9 113.3 113.3 112.0 111.9 108.0 107.2 107.0 105.8 105.6 101.2 100.2 98.1 94.3 94.8 110.1 109.4 109.7 109.3 108.9 130.0 129.6 130.4 128.9 128.9 131.5 131.3 132.2 130.0 130.0 120.8 119.3 119.0 119.2 118.5 107.7 106.3 106.8 106.0 105.8 103.7 102.4 102.1 100.7 100.5 109.3 108.0 108.7 108.2 107.9 112.9 112.3 112.5 112.0 111.8 104.0 104.0 103.9 103.5 102.8 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metals Period Total wwoods2 on PRODPC60 with ECOIND_CN 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Iron and steel products Nondurable manufactures Computer and electronic products Fabricated metal products Machinery Total Selected hightechnology 1 Transportation equipment Total Motor vehicles and parts Apparel Printing and support Chemical Food ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ 115.2 115.1 111.4 99.4 100.0 99.1 110.0 108.0 112.4 110.3 111.2 111.9 110.8 96.8 100.0 101.2 118.2 110.1 119.5 115.7 105.8 106.4 110.7 102.6 100.0 98.7 98.9 103.5 109.1 112.0 114.4 112.0 117.7 104.2 100.0 99.7 103.8 110.2 115.5 116.0 59.2 77.2 101.3 103.6 100.0 113.8 129.0 143.5 164.6 r 183.4 49.1 70.0 98.4 101.7 100.0 119.7 136.5 157.2 190.6 r 224.4 99.2 104.5 99.7 96.2 100.0 101.0 100.7 104.6 104.2 106.2 90.6 100.5 99.9 91.4 100.0 103.5 103.7 103.9 100.2 97.2 162.5 155.6 148.0 126.9 100.0 92.8 79.8 77.0 75.4 75.7 111.5 112.4 113.1 106.3 100.0 96.2 96.9 99.0 99.5 99.8 91.8 93.6 95.0 93.3 100.0 101.3 105.6 109.3 112.6 114.2 95.0 96.0 97.7 97.7 100.0 101.0 101.1 104.2 105.4 110.1 2007: May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov .................................................. Dec r ................................................. 110.2 109.6 113.2 111.4 109.2 110.0 111.0 112.9 116.2 115.6 117.6 116.6 112.8 116.0 118.3 121.6 111.3 112.2 112.6 112.8 113.2 113.1 113.7 113.1 117.0 116.3 117.4 116.2 118.0 116.4 115.4 114.6 177.4 181.3 185.6 186.5 188.3 192.8 196.2 198.1 213.9 220.5 229.2 231.1 234.6 243.2 247.5 250.6 105.8 107.9 108.9 108.1 106.9 105.9 106.9 106.6 97.5 99.5 100.8 99.3 96.6 95.1 95.8 95.5 76.5 76.2 76.2 75.2 74.4 73.6 73.4 75.1 99.5 98.7 98.4 99.1 99.6 98.9 99.4 99.0 114.1 114.0 114.5 114.2 115.0 114.5 114.7 114.6 109.1 110.1 111.4 110.5 111.7 111.2 111.3 112.0 2008: Jan r ................................................. Feb r ................................................. Mar r ................................................ Apr r ................................................. May p ................................................ 115.2 114.0 112.6 112.1 112.1 121.7 124.6 119.4 118.3 119.1 113.4 113.2 113.2 112.1 112.4 115.1 114.2 115.6 112.8 111.1 198.0 201.0 203.8 206.1 207.1 250.4 254.8 259.9 264.4 267.3 105.9 104.8 101.9 97.8 98.0 94.0 93.1 88.5 82.4 83.2 74.2 73.9 72.2 71.0 70.3 98.4 97.2 98.6 97.9 97.9 114.5 113.9 113.7 114.1 114.8 112.2 111.9 113.7 113.3 112.4 1 Computers and peripheral equipment, communications equipment, and semiconductors and related electronic components. Source: Board of Governors of the Federal Reserve System. 18 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r 2007 r 2007: 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 ................................... ................................... ................................... ................................... ................................... ................................... ................................... ................................... ................................... ................................... May r ........................ June r ....................... July r ........................ Aug r ......................... Sept r ........................ Oct r ......................... Nov r ......................... Dec r ......................... 688.5 744.6 802.8 840.2 847.9 891.5 991.6 1,102.7 1,167.6 1,137.2 1,154.6 1,149.4 1,139.4 1,138.8 1,134.9 1,124.2 1,115.3 1,093.5 533.7 575.5 621.4 638.3 634.4 675.4 771.4 868.5 912.2 850.0 868.5 863.0 852.9 848.5 837.7 829.9 816.9 797.5 296.3 326.3 346.1 364.4 396.7 446.0 532.9 611.9 613.7 492.5 520.9 508.2 493.6 480.2 465.1 447.0 428.7 413.9 224.0 251.3 265.0 279.4 298.8 345.7 417.5 480.8 468.8 353.4 373.2 367.6 358.9 346.9 334.5 320.5 305.2 289.2 237.4 249.2 275.3 273.9 237.7 229.3 238.5 256.6 298.4 357.5 347.6 354.8 359.3 368.3 372.6 382.9 388.3 383.7 14.8 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.6 27.5 26.5 27.8 29.1 29.3 30.1 32.1 32.5 31.2 40.4 45.1 52.4 49.7 35.3 30.6 32.9 37.3 45.7 53.4 50.6 51.1 52.1 54.1 55.4 57.6 57.8 56.1 55.7 59.4 64.1 63.6 59.0 57.5 63.2 66.6 73.4 85.0 84.6 85.4 84.6 86.5 87.9 88.6 89.1 85.1 40.5 35.1 37.6 37.8 22.7 21.4 23.7 29.9 35.1 42.2 40.0 40.1 42.9 42.6 42.8 44.8 47.2 51.2 86.0 93.7 104.9 108.2 110.2 109.9 106.8 110.2 126.7 149.4 145.9 150.5 150.6 155.7 156.4 159.9 161.7 160.0 154.8 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.4 287.1 286.1 286.4 286.6 290.3 297.2 294.3 298.4 296.0 2008: Jan r ......................... Feb r ......................... Mar r ........................ Apr r ......................... May p ........................ 1,085.4 1,075.3 1,090.5 1,089.3 1,085.2 794.6 783.7 789.6 789.4 784.2 404.9 392.0 391.6 385.1 378.9 277.2 258.8 256.4 248.2 241.4 389.7 391.6 398.0 404.3 405.3 31.5 32.5 33.7 36.5 37.6 58.4 57.0 57.3 58.9 59.1 86.7 87.0 86.9 86.8 85.6 48.8 49.5 51.1 53.1 53.6 164.3 165.7 169.0 169.0 169.3 290.8 291.6 300.8 299.9 301.1 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not shown separately. Note.—Data revised to reflect annual revisions; for details, see Construction Put in Place release dated July 1, 2008. 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 Units started, by type of structure Period Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... New private houses 1,616.9 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 2–4 units 1 1 unit 1,271.4 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 5 units or more 42.6 31.9 38.7 36.6 38.5 33.5 42.3 41.1 42.7 31.7 302.9 306.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 277.3 Units authorized 1,612.3 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 Units completed Houses sold Houses for sale at end of period 2 Vacancy rate for rental housing units (percent) 3 1,474.2 1,604.9 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 1,502.8 886 880 877 908 973 1,086 1,203 1,283 1,051 776 294 308 298 308 339 370 422 511 536 494 7.9 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 9.8 545 543 539 533 528 513 502 494 ...................... 9.5 ...................... ...................... 9.8 ...................... ...................... 9.6 484 ...................... ...................... 10.1 ...................... ...................... Seasonally adjusted annual rates 2007: May ........................... June .......................... July ........................... Aug ............................ Sept ........................... Oct ............................. Nov ............................ Dec ........................... 1,436 1,458 1,371 1,337 1,185 1,275 1,179 1,000 1,146 1,136 1,055 968 936 884 816 779 34 38 40 37 29 40 21 10 256 284 276 332 220 351 342 211 1,522 1,433 1,386 1,343 1,277 1,182 1,187 1,111 1,549 1,491 1,515 1,498 1,378 1,401 1,404 1,329 857 793 796 702 694 723 629 600 2008: Jan ............................ Feb ............................ Mar r .......................... Apr r ........................... May p .......................... 1,064 1,107 988 1,008 975 750 722 711 681 674 27 29 16 14 21 287 356 261 313 280 1,052 981 932 982 978 1,331 1,251 1,192 1,014 1,132 597 572 501 525 512 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 wwoods2 on PRODPC60 with ECOIND_CN 3 Revised r477 471 461 453 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00019 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.019 ECOIND BUSINESS SALES AND INVENTORIES—Manufacturing and Trade In April, according to current estimates, manufacturing and trade sales rose 1.5 percent and inventories rose $7.3 billion. According to advance estimates, retail sales rose 1.0 percent in May. Retail and food services sales also rose 1.0 percent. [Millions of dollars, except ratios; seasonally adjusted, except as noted] Manufacturing and trade 1 Sales 2 Inventories 3 .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. 742,837 786,634 834,325 818,615 823,714 853,596 923,319 1,001,315 1,068,026 1,113,787 1,078,740 1,138,805 1,197,597 1,120,025 1,140,083 1,146,695 1,238,037 1,305,227 1,390,428 1,443,837 2007: Apr r ................................................... May r .................................................. June ................................................... July ................................................... Aug .................................................... Sept ................................................... Oct ..................................................... Nov .................................................... Dec .................................................... 1,103,192 1,116,470 1,111,362 1,122,017 1,117,460 1,124,287 1,131,917 1,153,365 1,144,800 1,399,680 1,405,357 1,410,473 1,417,346 1,421,446 1,428,075 1,430,592 1,435,815 1,443,837 wwoods2 on PRODPC60 with ECOIND_CN 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Inventorysales ratio 4 Sales 2 Inventories 3 1.43 1.40 1.41 1.42 1.36 1.34 1.30 1.27 1.27 1.27 202,260 216,597 234,546 232,096 236,294 246,857 274,710 298,803 325,749 353,663 272,406 290,171 309,071 297,199 300,791 306,032 335,935 360,411 390,350 411,955 1.27 1.26 1.27 1.26 1.27 1.27 1.26 1.24 1.26 346,315 350,497 353,052 353,796 356,747 362,515 364,887 373,884 371,569 395,470 396,684 398,549 399,757 401,695 404,863 405,003 407,837 411,955 Retail Inventory sales ratio 4 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 1.31 1.30 1.29 1.32 1.25 1.22 1.17 1.17 1.16 1.13 215,592 234,046 249,063 255,644 261,194 272,123 289,528 307,338 323,947 336,701 357,269 385,009 406,853 394,713 416,159 432,359 461,405 471,956 488,591 501,218 1.62 1.59 1.59 1.58 1.55 1.56 1.56 1.51 1.49 1.47 238,278 257,797 274,518 282,131 288,845 301,264 320,526 340,141 358,978 373,556 1.14 1.13 1.13 1.13 1.13 1.12 1.11 1.09 1.11 334,151 339,643 335,372 336,465 337,278 339,547 339,407 343,926 340,168 489,524 491,677 493,968 498,945 501,694 501,217 502,812 501,539 501,218 1.46 1.45 1.47 1.48 1.49 1.48 1.48 1.46 1.47 370,568 376,222 372,272 373,615 374,336 376,820 376,802 381,280 377,909 342,378 503,313 1.47 340,599 502,744 1.48 342,367 499,972 1.46 r 343,444 501,791 1.46 347,015 ................ ................ 380,019 378,106 380,020 r 381,563 385,448 4 Annual data are averages of seasonally adjusted monthly ratios. Source: Department of Commerce, Bureau of the Census. 20 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00020 Fmt 3401 Retail and food services sales 2 Inventories 3 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 r ................................................... 1,161,817 1,467,463 1.26 385,072 421,700 1.10 Apr p ................................................... r 1,179,813 1,474,787 1.25 390,338 427,363 1.09 May p .................................................. .................. .................. ................ ................ ................ ................ 1 See Inventory sales ratio 4 Sales 2 Sfmt 3401 E:\HR\OC\ECOIND.020 ECOIND G:\graphics\eecoind.020 Period Wholesale MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS In May, manufacturers’ shipments, inventories, new and unfilled orders rose. 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 324,984 335,991 350,715 330,875 326,227 334,616 359,081 395,173 418,330 423,423 426,330 422,938 431,756 423,435 422,225 427,623 435,555 433,063 437,643 429,531 434,378 446,031 446,368 185,966 193,895 197,807 181,201 176,968 178,549 188,722 202,070 213,408 213,572 216,056 213,400 219,187 215,802 212,453 213,240 212,950 211,274 215,917 211,772 209,778 213,591 211,229 139,019 142,096 152,908 149,674 149,259 156,067 170,359 193,103 204,923 209,851 210,274 209,538 212,569 207,633 209,772 214,383 222,605 221,789 221,726 217,759 224,600 232,440 235,139 449,065 463,625 481,673 428,113 423,133 408,304 440,697 472,860 511,487 530,664 516,996 517,956 518,644 518,057 521,995 522,777 526,439 530,664 537,497 540,675 545,791 545,633 548,441 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. 290,700 296,553 306,727 267,829 260,582 246,963 265,070 283,598 309,914 320,757 313,421 313,371 313,495 313,236 314,636 315,650 317,534 320,757 322,384 323,841 327,066 328,911 330,323 158,365 167,072 174,946 160,284 162,551 161,341 175,627 189,262 201,573 209,907 203,575 204,585 205,149 204,821 207,359 207,127 208,905 209,907 215,113 216,834 218,725 216,722 218,118 317,345 329,770 346,789 322,746 316,809 330,369 354,619 395,401 419,793 427,597 427,149 427,369 442,069 426,512 425,399 430,254 437,808 445,917 435,415 433,860 440,216 445,915 448,680 178,327 187,674 193,881 173,072 167,550 174,302 184,261 202,298 214,871 217,746 216,875 217,831 229,500 218,879 215,627 215,871 215,203 224,128 213,689 216,101 215,616 213,475 213,541 62,133 64,392 69,278 58,246 51,817 52,894 56,094 65,770 71,725 74,288 73,057 75,720 80,464 70,219 74,677 72,501 75,585 78,238 73,271 74,408 75,431 73,609 74,119 496,083 505,498 549,445 514,349 462,122 477,608 496,343 572,835 660,406 773,297 699,668 708,841 724,733 732,889 740,534 748,304 755,712 773,297 777,859 786,860 797,114 802,972 810,078 1.39 1.35 1.35 1.38 1.28 1.24 1.19 1.17 1.19 1.23 1.21 1.22 1.20 1.22 1.24 1.22 1.21 1.23 1.23 1.26 1.26 1.22 1.23 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 wwoods2 on PRODPC60 with ECOIND_CN 1998 .................................................... 1999 .................................................... 2000 .................................................... 2001 .................................................... 2002 .................................................... 2003 .................................................... 2004 .................................................... 2005 .................................................... 2006 .................................................... 2007 ..................................................... 2007: May .......................................... June ......................................... July .......................................... Aug .......................................... Sept .......................................... Oct ........................................... Nov .......................................... Dec ........................................... 2008: Jan ........................................... Feb ........................................... Mar .......................................... Apr r ......................................... May p ........................................ PRICES PRODUCER PRICES The producer price index for all finished goods rose 1.4 percent in May. Prices of finished consumer foods rose 0.8 percent, while prices of other finished consumer goods rose 2.2 percent. Capital equipment prices rose 0.1 percent. [1982=100; monthly data seasonally adjusted] Finished goods Total finished goods Finished goods excluding consumer foods Consumer foods Consumer goods Total wwoods2 on PRODPC60 with ECOIND_CN Total 1998 ........................... 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2007 .......................... 2007: May ............... June .............. July ............... Aug ................ Sept ............... Oct ................. Nov ................ Dec ................ 2008: Jan r ............... Feb ................ Mar ................ Apr ................ May ............... 1 Intermediate 130.7 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 166.6 166.5 166.6 167.5 166.1 167.0 167.9 172.3 171.4 173.4 173.9 175.8 176.1 178.5 134.3 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 167.0 166.4 166.1 166.0 166.0 167.9 170.0 169.7 171.9 174.9 173.9 176.0 176.0 177.4 129.5 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 166.2 166.2 166.4 167.6 165.8 166.4 167.0 172.7 171.0 172.7 173.7 175.4 175.8 178.5 Durable 126.4 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 175.6 175.8 175.9 177.6 175.1 175.9 176.8 184.8 182.4 184.6 185.6 188.1 188.4 192.5 Nondurable 132.9 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 138.3 137.9 138.5 138.8 138.6 138.4 138.2 139.0 138.7 139.3 139.9 140.1 140.8 140.3 materials for food manufacturing and feeds. Capital equipment 122.2 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 191.7 192.2 192.1 194.5 190.9 192.3 193.6 204.9 201.5 204.5 205.7 209.2 209.4 215.9 137.6 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 149.5 149.2 149.5 149.7 149.7 149.7 149.8 150.4 150.3 151.0 151.7 151.9 152.5 152.7 128.9 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 173.5 173.4 173.5 174.6 172.8 173.9 175.1 180.8 179.7 182.1 182.6 185.0 185.2 188.5 Intermediate materials Crude materials Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 123.0 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 170.7 170.6 171.3 172.5 170.9 170.9 171.9 176.9 177.2 179.3 180.6 184.8 186.5 192.0 116.2 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 154.4 151.2 154.1 155.2 155.8 157.9 159.8 162.0 165.2 171.0 174.8 179.9 178.8 184.5 123.4 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 171.5 171.6 172.2 173.4 171.7 171.6 172.6 177.7 177.8 179.7 181.0 185.2 187.0 192.4 96.8 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 207.1 206.8 208.5 209.2 201.8 203.7 211.9 226.3 230.3 236.9 246.2 266.0 274.6 293.1 103.9 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 146.7 146.5 146.4 148.0 145.7 149.7 149.4 153.8 160.2 165.1 166.1 169.4 167.9 170.9 88.4 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 246.3 246.0 249.3 249.0 237.7 237.7 252.6 274.8 276.3 283.8 299.8 332.5 349.1 384.7 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 May, the consumer price index for all urban consumers rose 0.6 percent seasonally adjusted; it rose 0.8 percent not seasonally adjusted. The index was 4.2 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 ............... 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 100.0 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 .............. 13.8 42.4 32.6 5.8 .............. 160.7 160.4 182.1 172.1 .............. 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 23.9 5.1 3.7 17.7 5.5 6.2 187.8 128.5 133.0 141.6 92.2 242.1 192.9 128.8 131.3 144.4 100.7 250.6 198.7 137.9 129.6 153.3 129.3 260.8 206.3 150.2 127.3 154.3 124.7 272.8 214.7 143.6 124.0 152.9 116.6 285.6 219.9 154.5 120.9 157.6 135.8 297.1 224.9 161.9 120.4 163.1 160.4 310.1 230.2 179.0 119.5 173.9 195.7 323.2 238.2 194.7 119.5 180.9 221.0 336.2 246.235 200.632 118.998 184.682 239.070 351.054 9.7 76.5 102.9 173.4 106.6 177.0 124.6 181.3 129.3 186.1 121.7 190.5 136.5 193.2 151.4 196.6 177.1 200.9 196.9 205.9 207.723 210.729 2007: May ............ June ........... July ........... Aug ............ Sept ........... Oct ............. Nov ............ Dec ............ 207.949 208.352 208.299 207.917 208.490 208.936 210.177 210.036 206.700 207.246 207.708 207.749 208.509 209.055 210.930 211.680 201.659 202.729 203.353 204.256 205.250 205.636 206.414 206.584 208.951 209.627 209.942 210.056 210.607 211.110 211.861 212.409 239.619 240.478 241.032 241.472 242.236 242.635 243.295 243.974 233.662 234.261 234.894 235.422 236.108 237.122 238.050 238.925 245.316 245.815 246.252 246.828 247.487 248.045 248.790 249.425 200.595 201.310 201.124 200.014 200.600 202.591 204.915 205.615 118.712 118.286 118.711 118.141 118.336 118.430 119.125 119.240 184.518 184.829 185.336 184.306 185.564 186.134 192.718 194.653 241.126 241.299 242.062 235.860 241.292 243.617 272.290 279.928 348.502 349.516 351.547 353.207 354.536 356.384 357.745 358.861 208.795 209.236 209.359 205.743 208.523 210.690 225.218 229.076 209.978 210.446 210.926 211.265 211.737 212.115 212.626 213.103 2008: Jan Feb Mar Apr May 211.080 211.693 213.528 214.823 216.632 212.516 212.571 213.301 213.743 215.132 208.026 208.778 209.255 211.232 211.918 212.920 213.313 214.204 214.850 215.876 244.744 244.837 245.200 245.335 245.822 239.745 240.191 240.763 241.489 241.919 250.051 250.413 250.941 251.461 251.656 205.567 208.175 212.311 216.921 222.094 119.759 119.352 117.819 118.363 118.043 195.722 194.390 195.797 194.483 198.465 283.011 277.448 281.996 276.571 292.243 360.815 361.168 361.697 362.243 362.801 230.633 229.390 233.839 233.804 244.107 213.765 213.851 214.176 214.398 214.832 Period wwoods2 on PRODPC60 with ECOIND_CN All items less food and energy Not seasonally adjusted (NSA) ............ ............ ............ ............ ............ Food Rent of primary residence Total 1 Total 1 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 Apparel Total 1 Motor fuel Medical care Energy 2 3 Relative importance, December 2007. Source: Department of Labor, Bureau of Labor Statistics. 23 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 0 2.9 3.6 ¥1.6 1.2 4.0 4.2 5.4 1.1 6.2 ¥0.1 5.1 5.5 ¥3.9 2.9 4.1 5.5 8.8 .4 7.7 0.1 .8 1.7 1.8 ¥.6 7.7 3.1 1.7 1.7 7.6 0 .3 1.2 0 ¥.6 .8 2.4 1.2 2.3 1.4 ¥0.8 1.8 3.8 2.0 ¥1.3 3.2 3.6 4.8 3.0 3.9 Change, month to month 2007: May ....... June ...... July ....... Aug ........ Sept ....... Oct ........ Nov ........ Dec ........ 0.6 .1 .5 ¥.8 .5 .5 2.6 ¥.5 2008: Jan r ....... Feb ........ Mar ....... Apr ........ May ....... 1.2 r .3 1.1 .2 1.4 ¥0.7 ¥.2 ¥.1 .0 1.1 1.3 ¥.2 1.3 1.3 .1 1.0 ¥1.4 .5 .5 4.5 ¥1.3 0.1 .2 .1 .0 .0 .1 .4 ¥.1 9.1 5.5 4.9 ¥1.0 1.0 1.0 15.8 11.0 5.7 ¥1.2 ¥3.5 ¥1.0 4.4 10.0 9.2 9.9 14.4 9.9 9.5 ¥1.6 .0 ¥1.8 24.1 15.6 0.8 1.6 1.6 1.3 .5 .3 1.9 1.6 8.2 6.9 8.4 4.0 3.2 2.9 7.1 5.8 10.8 7.8 5.7 2.3 1.6 3.0 4.0 7.1 10.2 8.8 12.3 6.1 4.8 3.7 10.5 7.5 1.4 1.6 1.6 1.1 1.1 .9 1.6 1.1 3.9 3.3 4.2 2.3 4.4 6.1 7.3 6.2 1.7 1.2 r .5 1.3 .2 2.2 .5 .5 .1 .4 .1 13.8 3.8 10.7 r 6.4 11.0 12.0 10.3 9.9 r 2.5 8.3 18.8 1.7 13.1 r 8.5 15.7 3.2 3.5 4.3 r 4.0 2.7 7.2 9.6 10.8 10.0 7.3 11.0 9.7 9.9 7.2 9.3 8.0 12.4 14.4 13.6 8.5 1.7 2.7 3.0 3.6 3.1 7.4 6.4 6.9 6.5 7.2 r ¥.6 1.2 .0 .8 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 1.6 2.7 3.4 1.6 2.4 1.9 3.3 3.4 2.5 4.1 2.3 1.9 2.8 2.8 1.5 3.6 2.7 2.3 2.1 4.9 2.3 2.2 4.3 2.9 2.4 2.2 3.0 4.0 3.3 3.0 3.3 2.5 3.4 4.2 3.1 2.2 2.7 2.6 4.2 3.1 3.4 3.1 4.0 4.7 3.1 2.7 2.9 3.1 4.3 4.0 3.2 2.4 3.4 4.5 3.3 2.0 2.3 2.5 4.3 2.8 ¥2.6 2.4 12.1 ¥2.1 1.4 6.5 7.9 15.6 .5 5.4 ¥0.7 ¥.5 ¥1.8 ¥3.2 ¥1.8 ¥2.1 ¥.2 ¥1.1 .9 ¥.3 ¥1.7 5.4 4.1 ¥3.8 3.8 .3 6.5 4.8 1.6 8.3 ¥0.1 ¥.8 .3 0 ¥2.0 ¥2.1 .5 .8 .2 ¥.4 ¥15.4 30.2 13.9 ¥24.8 24.6 6.8 26.1 16.2 6.4 29.5 3.4 3.7 4.2 4.7 5.0 3.7 4.2 4.3 3.6 5.2 ¥8.8 13.4 14.2 ¥13.0 10.7 6.9 16.6 17.1 2.9 17.4 2.4 1.9 2.6 2.7 1.9 1.1 2.2 2.2 2.6 2.4 .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... 1.6 2.2 3.4 2.8 1.6 2.3 2.7 3.4 3.2 2.8 Change, month to month 2007: May ............... June .............. July .............. Aug ............... Sept .............. Oct ................ Nov ............... Dec ............... wwoods2 on PRODPC60 with ECOIND_CN 2008: Jan Feb Mar Apr May ............... ............... ............... ............... ............... 0.5 .3 .2 .0 .4 .3 .9 .4 0.3 .5 .3 .4 .5 .2 .4 .1 0.2 .3 .2 .1 .3 .2 .4 .3 0.2 .4 .2 .2 .3 .2 .3 .3 0.3 .3 .3 .2 .3 .4 .4 .4 0.1 .2 .2 .2 .3 .2 .3 .3 0.4 .4 ¥.1 ¥.6 .3 1.0 1.1 .3 ¥0.3 ¥.4 .4 ¥.5 .2 .1 .6 .1 1.4 .2 .3 ¥.6 .7 .3 3.5 1.0 ¥0.2 .1 .0 .1 ¥.2 ¥.1 .0 .0 5.6 .1 .3 ¥2.6 2.3 1.0 11.8 2.8 0.3 .3 .6 .5 .4 .5 .4 .3 3.1 .2 .1 ¥1.7 1.4 1.0 6.9 1.7 0.2 .2 .2 .2 .2 .2 .2 .2 .......... 4.6 .......... .......... 2.7 .......... .......... 5.1 5.1 4.3 3.9 2.0 2.5 2.6 6.3 6.2 4.6 3.9 4.1 3.5 3.4 3.2 4.1 4.3 2.7 2.7 2.4 2.0 2.8 3.5 4.3 4.1 .4 .0 .3 .2 .6 .7 .4 .2 .9 .3 .2 .2 .4 .3 .5 .3 .0 .1 .1 .2 .3 .2 .2 .3 .2 .3 .1 .2 .2 .1 .0 1.3 2.0 2.2 2.4 .4 ¥.3 ¥1.3 .5 ¥.3 .5 ¥.7 .7 ¥.7 2.0 ¥.3 ¥.1 .0 .0 .1 1.1 ¥2.0 1.6 ¥1.9 5.7 .5 .1 .1 .2 .2 .7 ¥.5 1.9 .0 4.4 .3 .0 .2 .1 .2 .......... .......... 4.2 .......... .......... 6.8 3.1 3.1 2.3 4.9 4.7 4.7 4.6 4.5 4.0 4.3 4.0 4.0 3.9 4.2 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00024 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In June, prices received by farmers rose 7.3 percent; prices paid by farmers rose 1.6 percent. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers wwoods2 on PRODPC60 with ECOIND_CN 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 All farm products Livestock and products Crops All commodities, services, interest, taxes, and wage rates 1 .............................. ............................... .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. 102 96 96 102 98 107 119 115 115 136 107 97 96 99 105 111 115 111 120 142 97 95 97 106 90 103 122 120 111 130 115 115 119 123 124 128 134 142 150 161 2007: June ................... July .................... Aug .................... Sept ................... Oct ..................... Nov r ................... Dec r ................... 137 139 139 140 141 141 143 141 141 142 142 148 148 151 134 137 137 138 131 134 134 161 162 162 r 162 164 165 167 2008: Jan r Feb r Mar r Apr r May r June 144 146 146 145 151 162 158 163 167 169 171 190 129 131 129 127 134 137 171 174 177 181 186 189 ................... ................... ................... ................... .................. ................... 1 Includes items not shown separately. ratio of index of prices received by farmers to index of prices paid, interest, taxes, and wage rates. 2 Percentage Production items, interest, taxes, and wage rates Production items Ratio 2 114 113 118 121 121 125 133 142 151 163 113 111 115 120 119 124 132 140 148 161 89 83 81 83 79 84 89 81 77 84 163 164 166 168 169 161 162 162 163 164 166 168 85 86 86 86 86 85 86 175 178 181 186 191 196 173 177 180 187 193 198 84 84 82 80 81 86 r 163 r 163 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00025 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.025 ECOIND G:\GRAPHICS\eecoind.025 Period Prices paid by farmers MONEY, CREDIT, AND SECURITY MARKETS MONEY STOCK AND DEBT MEASURES In May, 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 ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec ........................................................................................ Dec r ....................................................................................... 1,095.5 1,122.5 1,087.4 1,181.9 1,219.7 1,306.1 1,376.3 1,374.5 1,366.5 1,366.3 4,379.6 4,636.8 4,918.3 5,429.7 5,775.6 6,068.1 6,418.8 6,689.1 7,031.9 7,428.1 16,189.0 17,251.3 18,101.3 19,228.6 20,627.2 22,327.3 24,299.8 26,547.1 28,876.2 31,249.3 2.1 2.5 ¥3.1 8.7 3.2 7.1 5.4 ¥.1 ¥.6 .0 8.6 5.9 6.1 10.4 6.4 5.1 5.8 4.2 5.1 5.6 6.7 6.3 4.9 6.3 7.3 8.1 8.8 9.2 8.8 8.2 2007: May ........................................................................................ June ....................................................................................... July ........................................................................................ Aug ........................................................................................ Sept r ...................................................................................... Oct r ........................................................................................ Nov r ....................................................................................... Dec r ....................................................................................... 1,374.8 1,365.4 1,368.0 1,369.5 1,366.1 1,369.2 1,365.7 1,366.3 7,227.0 7,243.6 7,267.5 7,319.2 7,346.6 7,369.8 7,398.1 7,428.1 ............................ 29,984.8 ............................ ............................ 30,670.4 ............................ ............................ 31,249.3 .6 ¥.2 ¥.6 .4 ¥.5 ¥1.2 ¥1.3 .1 6.8 6.0 5.2 5.9 5.2 4.5 4.7 5.1 ...................... 7.1 ...................... ...................... 9.1 ...................... ...................... 7.5 2008: Jan r ....................................................................................... Feb r ....................................................................................... Mar r ....................................................................................... Apr r ....................................................................................... May ........................................................................................ 1,367.0 1,370.3 1,372.0 1,367.7 1,363.5 7,477.5 7,582.0 7,661.7 7,676.9 7,684.6 ............................ ............................ 31,758.4 ............................ ............................ ¥.1 .1 .9 ¥.2 ¥.3 5.8 7.2 8.6 8.3 7.7 ...................... ...................... 6.5 ...................... ...................... wwoods2 on PRODPC60 with ECOIND_CN 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 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 01:44 Jul 10, 2008 Jkt 043301 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 Aug 31 2005 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 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 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 At commercial banks Total At thrift institutions Retail money funds Institutional money funds 3 Dec ...... Dec ...... Dec ...... Dec ...... Dec ...... Dec ...... Dec ...... Dec ...... Dec ...... Dec r .... 460.5 517.8 531.2 581.2 626.3 662.5 697.6 723.9 748.9 758.7 8.5 8.6 8.3 8.0 7.8 7.7 7.5 7.2 6.7 6.3 376.6 352.8 309.6 335.2 306.2 325.8 343.2 324.9 305.9 295.2 249.9 243.4 238.4 257.4 279.4 310.1 328.0 318.5 305.0 306.1 143.9 139.6 133.1 142.0 154.3 175.2 186.8 180.5 176.8 173.2 106.0 103.7 105.2 115.5 125.1 134.8 141.2 138.0 128.2 132.9 1,605.0 1,740.3 1,878.8 2,312.8 2,778.2 3,169.1 3,518.3 3,621.4 3,696.9 3,887.7 1,188.5 1,289.0 1,424.6 1,739.5 2,060.4 2,337.7 2,631.0 2,771.5 2,904.0 3,034.1 416.5 451.2 454.2 573.4 717.8 831.4 887.3 849.9 792.9 853.6 952.4 956.8 1,047.6 976.5 896.0 818.7 830.0 996.2 1,171.6 1,216.5 626.4 636.9 700.2 635.4 590.8 541.3 551.2 644.9 759.2 821.7 326.1 319.9 347.5 341.1 305.2 277.4 278.8 351.3 412.4 394.8 726.7 817.2 904.6 958.5 881.8 774.3 694.2 697.0 796.8 957.7 551.7 656.5 811.5 1,218.1 1,269.2 1,135.2 1,085.7 1,150.4 1,348.2 1,882.8 2007: May ..... June .... July ..... Aug ..... Sept r ... Oct r ..... Nov r .... Dec r .... 755.4 756.0 758.0 758.1 759.2 761.5 761.1 758.7 6.6 6.5 6.5 6.4 6.4 6.4 6.3 6.3 304.1 301.5 301.0 302.0 296.4 296.8 296.9 295.2 308.7 301.5 302.5 302.9 304.0 304.4 301.3 306.1 175.8 171.2 171.5 171.1 171.0 172.3 171.6 173.2 132.9 130.3 131.1 131.8 133.0 132.1 129.8 132.9 3,816.7 3,829.5 3,836.4 3,862.8 3,865.7 3,870.0 3,884.0 3,887.7 2,938.7 2,947.6 2,965.1 2,994.7 3,008.6 3,011.0 3,027.2 3,034.1 878.0 881.9 871.2 868.1 857.1 859.0 856.8 853.6 1,190.2 1,190.5 1,191.5 1,193.6 1,203.5 1,209.8 1,213.9 1,216.5 758.9 760.2 765.5 767.3 774.6 802.2 819.4 821.7 431.3 430.3 426.0 426.3 428.9 407.6 394.4 394.8 845.3 858.1 871.6 893.3 911.3 920.8 934.5 957.7 1,473.8 1,504.6 1,537.2 1,615.4 1,698.0 1,782.3 1,841.6 1,882.8 2008: Jan r ..... Feb r .... Mar r .... Apr r ..... May ..... 757.7 758.6 761.7 759.7 762.5 6.2 6.2 6.2 6.2 6.2 295.1 293.6 295.2 291.7 286.0 307.9 311.9 308.9 310.1 308.8 173.2 176.8 174.6 174.4 170.0 134.7 135.1 134.3 135.7 138.8 3,901.2 3,949.1 4,007.4 4,013.3 4,051.4 3,039.8 3,080.8 3,123.0 3,124.9 3,136.2 861.4 868.3 884.4 888.4 915.2 1,223.7 1,226.2 1,217.1 1,211.0 1,205.3 823.8 825.5 820.2 814.6 811.8 399.9 400.7 396.9 396.4 393.5 985.5 1,036.5 1,065.3 1,084.8 1,064.4 1,930.8 2,071.7 2,147.9 2,189.1 2,222.9 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 Reserves of depository institutions Period Total 2 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Other borrowings from the Federal Reserve (NSA) Nonborrowed 3 Required Monetary base Excess (NSA) Total Primary Secondary Seasonal Primary dealer credit facility Adjustment 4 ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ 45,170 42,183 38,716 41,443 40,400 42,757 46,552 45,138 43,337 42,704 45,053 41,862 38,507 41,376 40,320 42,711 46,489 44,970 43,146 27,273 43,658 40,889 37,391 39,799 38,392 41,710 44,643 43,238 41,475 40,952 1,512 1,294 1,325 1,643 2,008 1,047 1,909 1,900 1,862 1,752 513,921 593,846 584,929 635,601 681,656 720,474 759,173 787,303 811,729 823,268 ................ ................ ................ ................ ................ ................ ................ ................ ................ 11,613 117 320 210 67 80 46 63 169 191 3,818 .............. .............. .............. .............. .............. 17 11 97 111 3,787 .............. .............. .............. .............. .............. 0 0 0 0 1 15 67 111 33 45 29 52 72 80 30 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 101 179 99 34 35 .............. .............. .............. .............. .............. 2007: June r .......... July r ........... Aug r ........... Sept r ........... Oct r ............ Nov r ........... Dec r ............ 43,369 41,816 45,018 42,668 42,443 42,672 42,704 43,182 41,554 44,043 41,101 42,188 42,306 27,273 41,618 40,179 40,189 40,942 41,008 40,976 40,952 1,751 1,637 4,828 1,726 1,435 1,696 1,752 819,825 821,128 824,439 821,972 824,655 825,471 823,268 ................ ................ ................ ................ ................ ................ 11,613 187 262 975 1,567 254 366 3,818 43 45 701 1,345 126 315 3,787 0 0 19 0 13 0 1 145 217 255 221 115 50 30 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 2008: Jan r ............ Feb r ............ Mar r ........... Apr r ............ May r ........... June ........... 42,152 42,856 44,259 43,535 44,156 43,405 ¥3,507 ¥17,301 ¥50,264 ¥91,875 ¥111,624 ¥127,873 40,519 41,146 41,269 41,607 42,049 41,025 1,633 1,709 2,990 1,928 2,107 2,380 821,416 822,524 826,999 824,420 826,473 832,285 44,516 60,000 75,484 100,000 127,419 150,000 1,143 157 1,137 155 1,617 9,624 14,076 14,225 0 0 0 0 0 70 6 3 6 21 47 75 .............. .............. 16,168 25,764 14,238 6,908 .............. .............. .............. .............. .............. .............. 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. wwoods2 on PRODPC60 with ECOIND_CN Term auction credit (NSA) 519,040 35,410 28,361 21,278 3 Seasonally adjusted break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. 4 Discontinued after January 8, 2003. 5 Total for March 2008 includes other credit extensions not shown separately. For details see H.3 release of March 27, 2008. Source: Board of Governors of the Federal Reserve System. 27 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 rose 0.2 percent in May; commercial and industrial loans rose 0.3 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit wwoods2 on PRODPC60 with ECOIND_CN 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2007: Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec r .......... Dec r .......... May r ......... June r ........ July r ......... Aug r ......... Sept r ......... Oct r .......... Nov r ......... Dec r .......... 2008: Jan r .......... Feb r .......... Mar r ......... Apr r .......... May .......... Total bank credit 4,514.1 4,743.0 5,204.4 5,415.1 5,885.6 6,264.3 6,819.3 7,530.8 8,363.0 9,215.6 8,573.6 8,625.1 8,703.4 8,837.2 8,952.6 9,054.5 9,184.1 9,215.6 9,278.9 9,349.4 9,499.8 9,421.5 9,395.7 Total securities U.S. Treasury and agency securities 1,226.0 1,268.9 1,337.5 1,483.1 1,715.0 1,851.8 1,950.8 2,069.5 2,249.4 2,433.3 2,267.9 2,292.0 2,318.0 2,347.5 2,383.7 2,407.4 2,471.4 2,433.3 2,437.1 2,468.9 2,576.9 2,530.3 2,489.0 795.8 810.4 790.7 852.2 1,029.7 1,114.7 1,171.1 1,161.4 1,216.6 1,130.1 1,162.9 1,165.1 1,171.5 1,177.8 1,174.0 1,139.3 1,131.0 1,130.1 1,107.1 1,107.0 1,128.4 1,110.6 1,115.2 Real estate CommerOther Total loans cial and securities and leases 2 industrial 430.2 458.5 546.8 630.9 685.4 737.1 779.7 908.0 1,032.8 1,303.2 1,104.9 1,126.9 1,146.5 1,169.8 1,209.7 1,268.1 1,340.4 1,303.2 1,330.0 1,361.8 1,448.6 1,419.7 1,373.8 3,288.0 3,474.1 3,866.9 3,932.0 4,170.6 4,412.5 4,868.5 5,461.4 6,113.5 6,782.3 6,305.7 6,333.1 6,385.3 6,489.7 6,568.9 6,647.1 6,712.7 6,782.3 6,841.8 6,880.5 6,922.8 6,891.2 6,906.7 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. 938.7 990.8 1,079.1 1,018.8 956.0 896.8 919.4 1,036.6 1,188.4 1,428.5 1,248.0 1,264.2 1,282.8 1,308.1 1,352.9 1,384.5 1,401.9 1,428.5 1,446.7 1,458.1 1,480.5 1,490.4 1,494.4 Total 1,333.4 1,471.9 1,655.8 1,785.9 2,033.5 2,229.8 2,566.7 2,924.0 3,358.3 3,577.2 3,437.0 3,453.9 3,458.1 3,494.2 3,504.4 3,534.3 3,560.6 3,577.2 3,595.2 3,619.5 3,654.9 3,649.5 3,649.5 Revolving home equity 103.6 101.1 129.7 155.4 213.1 280.3 398.0 443.7 467.5 482.8 462.9 464.6 465.5 469.3 472.5 475.1 478.6 482.8 486.3 491.0 498.7 506.8 512.1 Consumer 1,229.8 1,370.7 1,526.1 1,630.5 1,820.3 1,949.4 2,168.7 2,480.3 2,890.8 3,094.4 2,974.1 2,989.3 2,992.6 3,024.9 3,031.9 3,059.2 3,082.0 3,094.4 3,108.9 3,128.5 3,156.3 3,142.7 3,137.4 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00028 Fmt 3401 Other 497.4 491.5 539.8 556.2 585.9 642.5 695.4 708.2 743.2 809.1 755.4 765.1 773.4 775.1 783.9 789.0 796.2 809.1 811.6 811.9 815.0 821.2 825.4 134.5 139.7 161.0 135.1 173.9 198.8 198.1 247.1 271.1 291.6 278.6 263.9 277.9 285.9 283.6 274.2 285.5 291.6 305.4 298.8 292.3 283.2 291.7 384.0 380.2 431.2 436.0 421.3 444.6 488.9 545.5 552.5 676.0 586.7 586.0 593.1 626.3 644.1 665.1 668.5 676.0 682.9 692.3 680.2 646.9 645.7 2 Excludes Federal funds sold to, reverse repurchase agreements (RPs) with, and loans to commercial banks in the United States. Source: Board of Governors of the Federal Reserve System. 28 VerDate Aug 31 2005 Security Other Sfmt 3401 E:\HR\OC\ECOIND.028 ECOIND g:\graphics\eecoind.028 Period Loans and leases in bank credit 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 p ......... 1,298.1 1,718.6 1,955.4 850.2 896.2 844.7 1,537.4 1,956.2 1,842.6 1,796.4 1,755.5 2,056.8 1,751.2 1,807.1 1,844.2 1,712.8 1,870.3 1,758.3 1,603.2 Internal 1 682.1 731.0 718.0 755.0 811.3 831.3 928.4 995.0 993.8 942.8 1,006.2 1,009.3 1,023.9 935.8 944.7 944.0 944.1 938.3 964.6 Credit market instruments Total 616.0 987.6 1,237.4 95.2 84.9 13.4 609.0 961.2 848.8 853.6 749.3 1,047.5 727.3 871.3 899.5 768.8 926.2 820.0 638.6 Capital expenditures 3 Total Total net funds raised Net new equity issues 165.4 254.4 218.4 155.4 ¥32.5 38.0 39.2 ¥119.8 ¥180.7 ¥211.0 ¥139.4 ¥180.7 ¥285.8 ¥116.8 ¥44.8 ¥188.5 ¥63.5 ¥547.4 12.9 ¥215.5 ¥110.4 ¥118.2 ¥48.1 ¥41.6 ¥42.0 ¥126.6 ¥363.4 ¥614.1 ¥835.7 ¥569.6 ¥601.6 ¥534.0 ¥751.2 ¥572.8 ¥814.0 ¥831.2 ¥1,124.8 ¥562.2 Securities and mortgages Total 380.9 364.8 336.6 203.5 9.1 80.0 165.8 243.6 433.4 624.7 430.2 420.9 248.2 634.4 528.0 625.5 767.7 577.4 575.1 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). 226.2 264.0 180.8 392.4 163.3 215.1 131.5 247.8 326.1 423.5 321.5 295.6 274.8 412.8 405.5 497.4 344.0 447.3 341.6 Loans and shortterm paper Other 2 154.9 100.8 155.8 ¥188.9 ¥154.1 ¥135.0 34.3 ¥4.2 107.2 201.1 108.7 125.4 ¥26.7 221.6 122.4 128.1 423.7 130.2 233.5 450.5 733.3 1,019.1 ¥60.1 117.4 ¥24.6 569.9 1,080.9 1,029.5 1,064.7 888.6 1,228.1 1,013.0 988.2 944.3 957.3 989.6 1,367.3 625.7 1,348.4 1,833.8 2,137.7 980.2 867.2 832.5 1,608.8 1,872.8 1,791.5 1,930.9 1,733.1 1,979.8 1,730.9 1,722.3 1,933.8 1,896.8 1,991.2 1,902.0 1,719.6 778.5 863.9 928.5 802.6 737.1 749.9 825.7 915.0 1,032.9 1,033.0 992.1 1,034.0 1,049.2 1,056.3 993.0 1,027.6 1,073.2 1,038.3 1,051.1 Increase in financial assets 569.9 969.9 1,209.2 177.6 130.1 82.6 783.1 957.8 758.6 897.9 741.0 945.8 681.7 666.0 940.8 869.2 918.0 863.7 668.5 Discrepancy (sources less uses) ¥50.4 ¥115.2 ¥182.4 ¥130.0 28.9 12.1 ¥71.3 83.4 51.1 ¥134.6 22.4 77.1 20.2 84.8 ¥89.7 ¥184.0 ¥120.9 ¥143.8 ¥116.4 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 Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Apr ............................................................................... May .............................................................................. June ............................................................................. July .............................................................................. Aug .............................................................................. Sept .............................................................................. Oct ............................................................................... Nov ............................................................................... Dec ............................................................................... 2008: Jan ............................................................................... Feb ............................................................................... Mar .............................................................................. Apr p ............................................................................. wwoods2 on PRODPC60 with ECOIND_CN 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2007: Revolving 1,420.5 1,532.1 1,717.5 1,867.2 1,974.1 2,078.0 2,191.3 2,284.9 2,387.5 2,523.6 2,419.0 2,437.9 2,449.6 2,465.5 2,486.9 2,499.6 2,504.8 2,522.0 2,523.6 2,535.8 2,542.9 2,556.0 2,564.9 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. 581.1 610.5 683.7 716.7 748.9 770.5 800.0 825.0 875.4 940.6 887.6 897.1 902.2 909.3 917.2 921.6 929.3 939.0 940.6 946.5 950.7 956.6 956.9 Nonrevolving 2 839.4 921.5 1,033.8 1,150.5 1,225.2 1,307.5 1,391.3 1,459.9 1,512.1 1,583.0 1,531.4 1,540.8 1,547.4 1,556.2 1,569.7 1,577.9 1,575.5 1,583.0 1,583.0 1,589.2 1,592.1 1,599.4 1,608.1 Net change in consumer credit outstanding 1 Total 95.7 111.6 185.4 149.7 106.9 103.9 113.3 93.6 102.6 136.1 3.3 18.9 11.7 15.9 21.4 12.7 5.2 17.2 1.6 12.2 7.1 13.1 8.9 Revolving 41.1 29.4 73.2 33.0 32.2 21.6 29.5 25.0 50.4 65.2 .4 9.5 5.1 7.1 7.9 4.4 7.7 9.7 1.6 5.9 4.2 5.9 .3 Nonrevolving 2 54.6 82.1 112.3 116.7 74.7 82.3 83.8 68.6 52.2 70.9 2.9 9.4 6.6 8.8 13.5 8.2 ¥2.4 7.5 .0 6.2 2.9 7.3 8.7 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Interest rates rose in June. [Percent per annum] Constant wwoods2 on PRODPC60 with ECOIND_CN Period 3-month bills (new issues) 1 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2007: June ............ July ............. Aug ............. Sept ............. Oct .............. Nov ............. Dec .............. 2008: Jan .............. Feb .............. Mar ............. Apr ............. May ............ June ........... Week ended: 2008: June 7 ......... 14 ........ 21 ........ 28 ........ July 5 .......... 3-year maturities 2 10-year 30-year Highgrade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) Discount window (N.Y. F.R. Bank) 4 5 Primary credit 4.81 4.66 5.85 3.45 1.62 1.02 1.38 3.16 4.73 4.41 4.63 4.84 4.34 4.01 3.97 3.49 3.08 2.86 2.21 1.38 1.32 1.71 1.90 5.14 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.35 5.00 4.82 4.34 4.06 4.01 3.35 3.13 2.51 2.19 1.80 2.23 2.69 3.08 5.26 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.63 5.10 5.00 4.67 4.52 4.53 4.15 4.10 3.74 3.74 3.51 3.68 3.88 4.10 5.58 5.87 5.94 5.49 * * * * 4.91 4.84 5.20 5.11 4.93 4.79 4.77 4.52 4.53 4.33 4.52 4.39 4.44 4.60 4.69 5.12 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.42 4.64 4.64 4.73 4.57 4.41 4.45 4.22 4.00 4.35 4.67 4.43 4.34 4.48 6.53 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.56 5.79 5.73 5.79 5.74 5.66 5.44 5.49 5.33 5.53 5.51 5.55 5.57 5.68 .............. .............. .............. .............. .............. 2.12 2.34 4.19 5.96 5.86 6.25 6.25 5.75 5.25 5.00 5.00 4.75 3.50 3.50 2.50 2.25 2.25 2.25 1.82 1.85 2.05 1.86 1.90 2.78 3.22 3.24 3.08 2.88 3.98 4.15 4.20 4.09 4.00 4.68 4.72 4.75 4.63 4.53 4.33 4.42 4.53 4.63 4.83 5.63 5.68 5.74 5.67 5.60 2.25 2.25 2.25 2.25 2.25 1 Bank-discount basis. 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. 2 Yields Discount rate Prime rate charged by banks 5 4.92 4.62 5.73 3.40 1.17 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00030 Fmt 3401 Newhome mortgage yields (FHFB) 7 * * * * * * * * * * * * * * * * * * 8.35 8.00 9.23 6.91 4.67 4.12 4.34 6.19 7.96 8.05 8.25 8.25 8.25 7.75 7.50 7.50 7.25 6.00 6.00 5.25 5.00 5.00 5.00 5.35 4.97 6.24 3.88 1.67 1.13 1.35 3.22 4.97 5.02 5.25 5.26 5.02 4.94 4.76 4.49 4.24 3.94 2.98 2.61 2.28 1.98 2.00 7.07 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.41 6.54 6.70 6.73 6.58 6.55 6.42 6.21 6.02 5.96 5.92 5.98 6.01 .............. * * * * * 5.00 5.00 5.00 5.00 5.00 1.99 1.99 1.98 1.97 2.08 .............. .............. .............. .............. .............. 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. 30 VerDate Aug 31 2005 Federal funds rate 6 Sfmt 3401 E:\HR\OC\ECOIND.030 ECOIND g:\graphics\eecoind.030 U.S. Treasury security yields COMMON STOCK PRICES AND YIELDS Stock prices fell in June. 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 ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... 5,818.26 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 ................ ................ ................ ................ ................ 5,583.00 6,822.18 7,383.70 8,654.40 9,321.39 .................. .................. .................. .................. .................. 5,273.90 6,952.36 9,377.84 11,206.94 13,339.99 ................ ................ ................ ................ ................ 5,288.67 5,924.80 6,283.96 6,685.06 7,191.79 8,625.52 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 1,085.50 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 1,794.91 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 1.49 1.25 1.15 1.32 1.61 1.77 1.72 1.83 1.87 1.86 3.46 3.17 3.63 2.95 2.92 3.84 4.89 5.36 5.78 5.29 2007: June ............................................. July .............................................. Aug ............................................... Sept .............................................. Oct ............................................... Nov ............................................... Dec ............................................... 9,896.98 9,985.42 9,440.44 9,777.59 10,159.33 9,741.15 9,807.36 9,754.29 9,543.66 8,963.67 9,060.63 9,390.30 8,522.71 8,447.99 13,639.81 14,318.49 13,250.28 14,300.99 14,976.30 14,622.23 14,956.77 7,268.42 7,210.07 6,957.87 7,138.20 7,231.60 7,127.40 7,306.60 13,480.21 13,677.89 13,239.71 13,557.69 13,901.28 13,200.58 13,406.99 1,514.49 1,520.70 1,454.62 1,497.12 1,539.66 1,463.39 1,479.23 2,595.40 2,655.08 2,539.50 2,634.47 2,780.42 2,662.80 2,661.55 1.81 1.80 1.92 1.88 1.84 1.95 1.93 5.65 .................. .................. 5.15 .................. .................. 4.51 2008: Jan .............................................. Feb ............................................... Mar .............................................. Apr .............................................. May ............................................. June ............................................ 9,165.10 9,041.52 8,776.21 9,174.10 9,429.04 8,996.98 7,776.77 7,577.54 7,155.51 7,579.73 7,593.63 6,798.20 14,222.14 13,931.92 14,000.91 15,159.35 16,365.23 16,272.67 7,068.98 6,674.75 6,318.44 6,381.98 6,405.40 6,243.42 12,538.12 12,419.57 12,193.88 12,656.63 12,812.48 12,056.67 1,378.76 1,354.87 1,316.94 1,370.47 1,403.22 1,341.25 2,418.09 2,325.83 2,254.82 2,368.10 2,483.24 2,427.45 2.06 2.10 2.17 2.09 2.07 2.15 .................. .................. r 4.57 .................. .................. .................. Week ended: 2008: June 7 14 21 28 July 5 9,270.47 9,033.68 8,995.99 8,755.06 8,562.20 7,195.19 6,833.33 6,816.24 6,466.67 6,169.26 16,250.30 16,319.70 16,274.52 16,210.39 16,177.69 6,401.93 6,215.00 6,180.96 6,178.52 6,259.03 12,422.28 12,220.56 12,072.84 11,652.31 11,309.08 1,381.05 1,351.12 1,341.93 1,303.16 1,272.33 2,499.93 2,432.25 2,446.07 2,358.46 2,273.70 2.10 2.16 2.16 2.18 2.29 .................. .................. .................. .................. .................. 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 wwoods2 on PRODPC60 with ECOIND_CN Dow Jones industrial average 4 ......................................... ......................................... ......................................... ......................................... ......................................... 1 Average of daily closing prices. all the stocks (nearly 3,000) 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. over 5,000 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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 first eight months of fiscal 2008, there was a deficit of $319.4 billion, compared with a deficit of $148.5 billion a year earlier. [Billions of dollars] Total Outlays Surplus or deficit (¥) Receipts 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 2,521.2 2,699.9 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 2,931.2 3,107.4 ¥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 ¥410.0 ¥407.4 788.9 842.5 923.7 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 1,859.0 2,004.4 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 2,461.2 2,615.5 ¥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 ¥602.2 ¥611.1 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 635.1 662.2 695.6 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 453.6 470.1 491.9 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 8,950.7 192.2 9,654.4 203.7 10,413.4 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 5,428.6 5,856.2 1,668.8 1,674.0 1,817.3 1,993.4 ¥148.5 ¥319.4 1,243.7 1,231.9 1,508.4 1,669.6 ¥264.7 ¥437.7 425.1 442.0 308.9 323.7 116.2 118.3 4,965.0 5,267.8 from current issue Monthly Treasury Statement. Surplus or deficit (¥) Outlays Receipts Outlays 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Surplus or deficit (¥) Gross Federal 8,768.8 9,352.0 Held by the public NOTE.—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 Aug 31 2005 Federal debt (end of period) Frm 00032 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.032 ECOIND g:\graphics\eecoind.032 wwoods2 on PRODPC60 with ECOIND_CN 1 Data Off-budget Receipts Fiscal year or period 1992 ...................................... 1993 ...................................... 1994 ...................................... 1995 ...................................... 1996 ...................................... 1997 ...................................... 1998 ...................................... 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ....................................... 2006 ...................................... 2007 ...................................... 2008 (estimates) ................... 2009 (estimates) ................... Cumulative total, first 8 months: 1 Fiscal year 2007 ................ Fiscal year 2008 ................ On-budget FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In the first eight months of fiscal 2008, receipts were $5.2 billion higher than a year earlier and outlays were $176.1 billion higher. [Billions of dollars] On-budget and off-budget receipts wwoods2 on PRODPC60 with ECOIND_CN Total Individual income taxes Corporation income taxes On-budget and off-budget outlays National defense Other Total Total Department of Defense, military International affairs Health Medicare Income Social security security Net interest Other 1992 1993 1994 1995 1996 1997 1998 1999 ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ 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 2008 2009 ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ (estimates) ......................... (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 2,521.2 2,699.9 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,163.5 1,219.7 1,259.0 207.3 151.1 148.0 131.8 189.4 278.3 353.9 370.2 345.3 339.2 652.9 694.0 700.8 713.0 733.4 794.1 837.8 869.6 910.1 949.4 160.9 152.0 146.2 144.1 148.5 154.2 171.6 164.9 46.1 152.3 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.2 2,931.2 3,107.4 294.4 304.8 348.5 404.8 455.8 495.3 521.8 552.6 607.3 675.1 281.1 290.2 331.9 387.2 436.5 474.1 499.3 529.8 583.1 651.2 17.2 16.5 22.4 21.2 26.9 34.6 29.5 28.5 34.8 38.0 154.5 172.3 196.5 219.6 240.1 250.6 252.8 266.4 284.5 299.4 197.1 217.4 230.9 249.4 269.4 298.6 329.9 375.4 396.3 413.3 253.7 269.8 312.7 334.6 333.1 345.8 352.5 366.0 388.4 401.7 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.2 615.3 649.3 222.9 206.2 170.9 153.1 160.2 184.0 226.6 237.1 243.9 260.2 239.9 243.4 273.3 302.7 311.9 339.9 393.8 318.1 360.7 370.3 Cumulative total, first 8 months: 1 Fiscal year 2007 ...................... Fiscal year 2008 ...................... 1,668.8 1,674.0 765.6 769.2 210.9 178.2 588.0 610.4 104.3 1,817.3 116.2 1,993.4 368.2 412.9 349.1 393.7 19.1 17.7 178.5 188.1 249.2 266.1 265.8 309.7 384.6 405.2 156.8 164.8 195.1 228.9 1 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 (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 Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 first quarter of 2008, according to revised estimates, Federal current receipts fell $13.1 billion (annual rate); while Federal current expenditures rose $76.8 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Total Total 1 Calendar year: 1998 ................. 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2007 ................ 2004: III ............ IV ............ 2005: I ............... II ............. III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I ............... II ............. III ............ IV ............ 2008: I r .............. 1 Includes wwoods2 on PRODPC60 with ECOIND_CN 2 Includes 1,773.8 1,891.2 2,053.8 2,016.2 1,853.2 1,879.9 2,008.9 2,243.4 2,495.8 2,673.5 2,023.5 2,082.8 2,209.2 2,247.5 2,188.5 2,328.3 2,436.5 2,471.5 2,513.1 2,561.9 2,619.7 2,670.1 2,689.4 2,714.7 2,701.6 1,116.8 1,195.7 1,313.6 1,252.2 1,075.5 1,070.8 1,152.3 1,362.7 1,537.5 1,657.4 1,159.4 1,209.9 1,321.4 1,351.7 1,362.3 1,415.2 1,488.0 1,521.1 1,555.3 1,585.4 1,619.0 1,663.2 1,667.2 1,680.1 1,644.9 Personal current taxes 825.8 893.0 999.1 994.5 830.5 774.5 797.4 932.4 1,053.2 1,163.3 809.6 826.6 897.1 920.4 946.1 966.1 1,022.7 1,032.9 1,057.4 1,099.8 1,138.8 1,151.7 1,170.7 1,191.9 1,185.8 Taxes on production and imports 81.1 83.9 87.8 85.8 87.3 89.7 94.6 99.0 98.6 99.9 95.1 95.3 96.5 100.7 99.8 98.8 98.7 99.0 99.3 97.2 97.9 98.3 101.4 102.2 104.4 Taxes on corporate income 204.2 213.0 219.4 164.7 150.5 197.8 250.3 319.8 373.1 380.8 246.4 275.3 316.4 320.9 303.5 338.3 356.4 378.6 387.1 370.1 370.3 401.3 382.5 369.1 340.3 613.8 651.6 691.7 717.5 734.3 758.9 805.2 849.3 901.6 953.9 812.1 820.9 836.0 842.6 856.1 862.6 892.8 894.1 900.9 918.8 944.0 946.3 957.3 968.1 989.7 Federal Government current expenditures Income receipts on assets Current transfer receipts Current surplus of government enterprises 21.5 21.5 25.2 24.9 20.2 22.9 23.8 24.5 24.7 25.1 23.9 24.2 24.6 25.5 24.3 23.8 24.2 24.6 24.8 25.4 24.6 25.1 25.3 25.4 25.5 21.5 22.7 25.7 27.1 24.8 25.0 28.8 11.6 35.2 39.4 29.4 29.9 30.5 32.0 ¥48.2 32.2 33.8 34.6 35.5 36.7 38.1 38.5 39.4 41.4 42.7 0.1 ¥.3 ¥2.3 ¥5.5 ¥1.6 2.3 ¥1.2 ¥4.8 ¥3.2 ¥2.3 ¥1.4 ¥2.1 ¥3.3 ¥4.2 ¥6.0 ¥5.6 ¥2.3 ¥2.9 ¥3.3 ¥4.3 ¥6.1 ¥3.0 .2 ¥.4 ¥1.2 taxes from the rest of the world, not shown separately. a subtraction for wage accruals less disbursements, not shown separately. Total 2 1,734.9 1,787.6 1,864.4 1,969.5 2,101.1 2,252.1 2,379.5 2,561.6 2,715.8 2,892.0 2,385.4 2,418.2 2,507.2 2,535.0 2,582.9 2,621.4 2,656.2 2,711.4 2,752.3 2,743.4 2,838.2 2,876.9 2,919.7 2,933.2 3,010.0 Consumption expenditures 454.6 475.1 499.3 531.9 591.5 662.7 723.7 768.5 812.8 856.0 734.6 729.6 759.1 761.7 784.1 769.0 804.8 806.6 813.3 826.4 829.8 849.8 867.7 876.9 900.7 Current transfer payments 946.5 986.1 1,038.1 1,131.4 1,243.0 1,328.7 1,390.6 1,479.1 1,576.1 1,686.8 1,382.5 1,413.7 1,460.6 1,462.0 1,483.7 1,510.1 1,539.5 1,571.1 1,594.3 1,599.6 1,665.6 1,670.9 1,696.4 1,714.5 1,746.8 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00034 Fmt 3401 298.8 282.7 283.3 258.6 229.1 212.9 221.0 255.9 277.5 302.4 224.4 227.8 233.5 253.6 255.8 280.5 259.0 284.4 296.7 270.0 296.3 309.4 309.3 294.7 314.6 Subsidies 35.0 43.8 43.8 47.6 37.5 47.8 44.2 58.2 49.4 46.7 43.9 47.2 54.0 57.7 59.2 61.8 52.8 49.3 47.9 47.4 46.6 46.9 46.2 47.1 48.0 Net Federal Government saving 38.8 103.6 189.5 46.7 ¥247.9 ¥372.1 ¥370.6 ¥318.3 ¥220.0 ¥218.5 ¥361.9 ¥335.4 ¥298.0 ¥287.5 ¥394.3 ¥293.2 ¥219.6 ¥239.9 ¥239.2 ¥181.5 ¥218.5 ¥206.8 ¥230.3 ¥218.5 ¥308.4 Source: Department of Commerce, Bureau of Economic Analysis. 34 VerDate Aug 31 2005 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 p ............................. 95.4 99.5 103.7 100.1 100.0 101.2 103.8 107.2 109.6 111.4 89.2 94.4 102.6 98.4 100.0 100.1 102.2 103.9 103.5 103.5 102.5 102.7 108.5 101.2 100.0 103.0 108.0 109.4 114.3 117.5 93.9 96.1 100.0 101.3 100.0 99.6 102.1 102.3 102.8 104.5 94.4 95.5 100.9 101.1 100.0 100.4 103.5 106.9 113.2 120.1 98.5 98.4 102.6 101.4 100.0 99.4 99.2 98.4 100.7 100.5 100.2 101.6 103.5 102.0 100.0 99.7 100.5 98.5 98.8 99.1 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 157.8 160.5 164.9 169.0 172.8 177.6 180.9 184.9 188.5 192.7 122.2 121.8 121.0 120.1 119.0 118.7 118.7 118.3 118.7 118.7 154.2 155.0 157.6 160.2 163.3 166.7 170.3 173.2 176.2 178.8 139.7 140.5 142.5 145.3 147.4 148.9 151.4 153.7 156.2 159.7 222.5 226.2 231.9 238.3 244.3 250.9 256.4 261.3 266.9 271.8 191.4 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 242.7 2007: Apr r ................... May r .................. June r ................. July r .................. Aug r ................... Sept r .................. Oct r .................... Nov r ................... Dec r ................... 111.0 111.0 111.4 112.0 112.0 112.3 111.8 112.3 112.4 104.3 104.2 104.3 104.1 103.9 103.4 103.7 103.1 100.1 115.5 116.8 117.0 117.1 120.0 118.1 120.4 118.6 119.4 103.4 104.5 103.6 105.3 105.5 104.2 106.3 104.6 105.4 117.4 119.5 119.7 120.0 122.2 122.3 122.0 121.7 123.4 100.9 101.5 101.3 101.4 102.7 101.1 100.3 99.2 99.3 98.9 99.8 99.5 99.2 99.2 98.8 99.5 99.2 99.2 206.686 207.949 208.352 208.299 207.917 208.490 208.936 210.177 210.036 192.9 193.7 193.4 193.5 193.0 193.4 192.9 193.4 193.5 118.4 118.8 118.5 118.4 119.0 119.0 119.4 119.1 119.4 178.3 178.7 178.9 178.5 179.2 179.4 179.8 180.8 181.5 159.3 159.3 159.3 160.2 160.0 160.2 160.7 161.4 162.4 270.2 271.0 271.6 272.2 272.7 272.7 273.5 274.5 275.3 241.3 242.3 243.6 242.2 243.6 244.4 245.4 246.4 247.8 2008: Jan r ................... 112.5 100.7 118.7 105.8 123.8 100.5 99.0 211.080 193.2 119.1 181.3 Feb r ................... 111.8 100.0 120.6 106.3 124.0 100.5 99.3 211.693 193.9 118.9 181.7 Mar r ................... 111.9 98.3 116.5 105.2 123.8 100.4 98.9 213.528 194.6 119.5 183.0 Apr r ................... 111.1 99.3 116.3 106.7 123.8 101.1 99.0 214.823 196.1 119.4 183.7 May p .................. 110.9 .............. 119.7 .............. 120.6 .............. 98.2 216.632 198.0 120.3 184.6 June p ................. .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 161.9 162.7 163.4 163.1 164.0 164.5 276.6 246.5 277.2 248.4 278.6 249.2 279.2 251.4 280.7 252.7 281.9 .............. 1 Data relate to all urban consumers. NOTE.—See Note, p. 17, for information on U.S. industrial production series. 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. 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 BOP basis wwoods2 on PRODPC60 with ECOIND_CN 1998 ............. 670.4 1999 ............. 684.0 2000 ............. 772.0 2001 ............. 718.7 2002 ............. 682.4 2003 ............. 713.4 2004r ............ 807.5 2005r ............ 894.6 r 2006 ............ 1,023.1 2007r ............ 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: Aprr ... Mayr .. Juner Julyr .. Augr .. Septr .. Octr ... Novr .. Decr ... 91.2 93.4 94.9 97.5 98.5 99.5 100.4 101.0 101.8 92.5 94.7 96.0 98.7 99.6 100.4 101.4 102.4 102.9 6.5 6.5 6.7 6.9 7.5 8.1 7.7 8.0 8.0 25.4 25.9 27.0 26.5 27.4 27.6 27.6 28.0 28.7 35.0 36.7 36.7 38.2 38.1 38.1 39.0 38.8 39.4 9.8 9.9 9.9 10.9 10.3 10.4 10.5 10.8 10.1 11.9 12.1 11.8 12.3 12.4 12.6 12.5 12.3 12.8 160.0 161.9 163.5 165.3 165.2 166.2 168.1 172.7 171.4 158.8 160.8 162.9 164.2 164.2 165.1 167.2 172.0 170.5 6.6 6.7 6.8 6.9 7.0 7.0 6.9 7.1 6.9 50.5 52.0 52.8 53.5 53.5 53.5 55.1 59.2 60.3 36.1 36.7 37.2 37.2 37.3 37.9 37.7 37.9 37.7 21.3 20.7 21.4 22.2 21.9 22.1 22.2 22.1 20.7 39.2 39.4 39.5 39.1 39.2 39.4 40.0 40.3 39.7 39.3 40.3 40.9 42.5 43.6 43.3 43.7 44.2 44.3 30.8 31.2 31.3 32.0 32.3 32.0 32.4 32.4 32.4 ¥66.2 ¥66.1 ¥66.9 ¥65.5 ¥64.6 ¥64.7 ¥65.8 ¥69.6 ¥67.6 ¥68.8 ¥68.5 ¥68.7 ¥67.8 ¥66.7 ¥66.7 ¥67.7 ¥71.7 ¥69.5 8.5 9.0 9.5 10.5 11.3 11.3 11.4 11.8 11.9 ¥60.3 ¥59.4 ¥59.1 ¥57.3 ¥55.3 ¥55.5 ¥56.3 ¥59.9 ¥57.6 2008: Jan r .. Feb r .. Mar r Apr p .. 104.7 108.1 105.0 109.6 105.5 109.0 105.5 110.3 8.6 9.1 9.6 9.7 29.7 31.8 31.5 32.6 39.4 39.3 37.8 40.1 10.3 10.8 9.4 10.1 13.3 13.4 12.6 13.4 174.8 180.6 173.4 182.5 174.0 178.9 171.8 180.9 7.1 7.2 7.1 7.4 64.0 64.5 61.5 67.1 37.4 38.3 37.9 39.1 21.2 22.8 20.3 21.3 39.1 41.0 39.5 40.2 45.5 45.4 45.6 46.0 33.2 33.5 33.6 34.0 ¥68.6 ¥69.9 ¥66.3 ¥70.6 ¥70.1 ¥72.5 ¥68.4 ¥72.9 12.3 11.9 11.9 12.0 ¥57.9 ¥60.6 ¥56.5 ¥60.9 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. Data revised to reflect annual revisions. For details, see International Trade in Goods and Services, Annual Revision for 2007, released June 10, 2008. Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 35 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the first quarter of 2008, the goods deficit rose to $211.0 billion, from $208.9 billion in the fourth quarter. The current account deficit rose to $176.4 billion in the first quarter, from $167.2 billion in the fourth quarter. (Series revised.) [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period wwoods2 on PRODPC60 with ECOIND_CN Exports Imports Services Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Balance on goods and services Other services, net Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account 1998 .............. 1999 .............. 2000 .............. 2001 .............. 2002 r ............ 2003 r ............ 2004 r ............ 2005 r ............ 2006 r ............ 2007 r ............ 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 2005: I r ....... II r ..... III r .... IV r .... 214,857 223,728 223,603 232,443 ¥399,862 ¥412,411 ¥422,752 ¥446,754 ¥185,005 ¥188,683 ¥199,149 ¥214,312 ¥2,724 ¥2,699 ¥2,211 ¥2,902 ¥4,155 ¥2,791 ¥2,884 ¥3,177 25,886 23,442 23,899 25,893 ¥165,997 ¥170,729 ¥180,345 ¥194,497 124,653 128,487 136,138 145,986 ¥104,069 ¥110,615 ¥115,595 ¥132,627 20,584 17,872 20,543 13,358 ¥28,644 ¥24,964 ¥9,090 ¥27,085 ¥174,057 ¥177,821 ¥168,892 ¥208,223 2006: I r ....... II r ..... III r .... IV r .... 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 r ....... II r ..... III r .... IV r .... 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 p ...... 317,813 ¥528,845 ¥211,032 ¥4,715 2,719 199,457 ¥169,686 29,771 ¥31,227 ¥176,376 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). 38,108 ¥174,920 3 Includes transfers of goods and services under U.S. military grant programs. Note.—Data reflect annual revisions released on June 17, 2008. See p. 37 for continuation of table. 36 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 increased $218.9 billion in the first quarter of 2008, following an increase of $115.9 billion in the fourth quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, increased $85.7 billion in the first quarter, following an increase of $124.0 billion in the fourth quarter. (Series revised.) [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account Period Total wwoods2 on PRODPC60 with ECOIND_CN 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r 2007 r 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 p ... ¥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 ¥2,594 ¥129,175 ¥510 ¥222,397 ¥467 ¥204,361 ¥465 9,302 ¥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 ¥597 ¥286,627 U.S. official reserve assets 4 ¥6,783 8,747 ¥290 ¥4,911 ¥3,681 1,523 2,805 14,096 2,374 ¥122 5,331 ¥797 4,766 4,796 513 ¥560 1,006 1,415 ¥72 26 ¥54 ¥22 ¥276 Other U.S. Government assets Statistical discrepancy Foreign-owned assets in the U.S., excluding financial derivatives [increase/financial inflow (+)] U.S. private assets ¥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 2,591 ¥137,097 989 ¥222,589 1,501 ¥210,628 459 4,047 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 3,346 ¥289,697 Total 420,794 742,210 1,038,224 782,870 795,161 858,303 1,533,201 1,247,347 2,061,113 2,057,703 234,182 304,880 425,404 282,881 537,649 405,008 524,858 593,598 692,713 718,112 266,476 380,402 410,962 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 25,052 81,292 54,736 98,188 130,427 127,303 121,843 108,366 163,270 88,822 13,469 145,497 173,501 Other foreign assets 440,697 698,667 995,466 754,811 679,216 580,234 1,135,446 988,079 1,573,174 1,646,645 209,130 223,588 370,668 184,693 407,222 277,705 403,015 485,232 529,443 629,290 253,007 234,905 237,461 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 .................. 148,863 68,421 ¥59,265 ¥14,285 ¥37,770 ¥6,000 95,030 32,313 ¥47,078 ¥41,287 71,644 95,848 ¥51,683 ¥83,495 17,994 16,641 ¥41,784 ¥39,927 ¥67,970 656 71,627 ¥45,600 52,638 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 12,224 ¥1,323 ¥21,122 10,222 10,054 587 ¥19,426 8,787 12,192 722 ¥21,805 8,892 9,512 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 78,942 76,594 71,273 65,127 65,354 67,935 66,217 65,895 66,551 66,127 69,070 70,565 75,764 Note.—See Note, p. 36. Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Aug 31 2005 01:44 Jul 10, 2008 Jkt 043301 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 wwoods2 on PRODPC60 with ECOIND_CN 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 Aug 31 2005 U.S. GOVERNMENT PRINTING OFFICE : 2008 43–301 01:44 Jul 10, 2008 Jkt 043301 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND