Full text of Economic Indicators : May 2008
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110th Congress, 2nd Session Economic Indicators MAY 2008 (Includes data available as of June 6, 2008) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE wwoods2 on PRODPC68 with ECOIND WASHINGTON : 2008 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 [PUBLIC LAW 120—81ST CONGRESS; CHAPTER 237—1ST SESSION] JOINT RESOLUTION [S.J. Res. 55] To print the monthly publication entitled ‘‘Economic Indicators’’ Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Joint Economic Committee be authorized to issue a monthly publication entitled ‘‘Economic Indicators,’’ and that a sufficient quantity be printed to furnish one copy to each Member of Congress; the Secretary and the Sergeant at Arms of the Senate; the Clerk, Sergeant at Arms, and Doorkeeper of the House of Representatives; two copies to the libraries of the Senate and House, and the Congressional Library; seven hundred copies to the Joint Economic Committee; and the required numbers of copies to the Superintendent of Documents for distribution to depository libraries; and that the Superintendent of Documents be authorized to have copies printed for sale to the public. Approved June 23, 1949. Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. wwoods2 on PRODPC68 with ECOIND 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 00:54 Jun 11, 2008 Jkt 042764 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 3.5 percent (annual rate), real GDP (GDP in chained 2000 dollars) rose 0.9 percent, and the implicit price deflator rose 2.6 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 14,195.6 10,046.2 ¥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 ¥716.6 955.9 991.2 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 1,786.3 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 2,041.3 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 2,502.9 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 2,824.7 530.4 555.8 578.8 612.9 679.7 756.4 825.6 878.4 932.5 976.0 839.4 835.0 864.0 870.4 896.0 883.4 921.5 926.9 932.0 949.7 946.6 969.5 990.3 997.7 1,023.4 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 184.7 195.2 208.5 220.3 242.5 259.2 274.9 289.8 308.2 315.9 274.5 280.0 286.2 285.4 291.7 295.7 310.7 306.3 311.3 304.5 311.7 315.0 316.8 320.0 326.6 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 1,801.3 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 14,218.8 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 14,912.2 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 14,350.8 Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 wwoods2 on PRODPC68 with ECOIND Period Exports and imports of goods and services Personal Gross Gross conprivate domestic sumption domestic product expendi- investtures ment REAL GROSS DOMESTIC PRODUCT [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Gross private domestic investment Gross domestic product Period 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 11,701.9 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 8,369.7 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 1,406.9 418.3 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 ¥18.3 400.3 ¥14.4 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 1,474.1 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 1,954.3 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 2,053.3 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 561.2 573.7 578.8 601.4 643.4 687.1 715.9 726.5 742.3 755.0 724.5 716.0 721.0 722.2 737.3 725.5 740.4 737.4 739.2 752.3 740.2 751.0 764.0 765.0 773.2 365.3 372.2 370.3 384.9 413.2 449.0 475.0 482.4 491.5 505.1 484.8 472.7 478.1 481.1 492.7 477.7 485.5 488.2 486.4 505.8 491.6 501.7 513.9 513.2 520.3 195.9 201.5 208.5 216.5 230.2 238.0 240.7 243.9 250.7 249.6 239.4 243.2 242.7 240.9 244.3 247.8 254.8 249.0 252.7 246.1 248.4 248.9 249.6 251.4 252.5 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 1,280.2 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 11,715.3 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 12,178.2 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 11,830.7 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: 2007: wwoods2 on PRODPC68 with ECOIND 2008: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I r ........... 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.000 116.567 119.664 109.793 110.671 111.726 112.446 113.405 114.389 115.357 116.347 117.026 117.522 118.745 119.519 119.826 120.542 121.310 Total 95.979 97.575 100.000 102.094 103.542 105.597 108.391 111.587 114.675 117.593 108.695 109.512 110.110 111.027 112.196 112.981 113.474 114.665 115.401 115.139 116.125 117.341 117.868 119.015 120.030 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 Gross private domestic investment Services 93.821 96.174 100.000 101.531 102.090 104.145 107.626 111.561 114.989 118.404 107.892 109.141 109.218 110.553 113.098 113.315 113.399 115.761 116.577 114.211 115.621 118.414 118.753 120.811 122.754 Nonresidential fixed 95.318 97.393 100.000 103.256 106.019 109.379 112.929 116.725 120.725 124.556 113.397 114.189 115.194 116.155 117.089 118.424 119.307 120.244 121.202 122.115 123.244 124.047 124.914 125.988 126.806 101.421 100.057 100.000 99.683 99.513 99.591 100.896 103.778 106.962 108.290 101.029 101.666 102.799 103.425 103.836 105.002 106.018 106.759 107.262 107.785 108.297 108.289 108.136 108.435 108.477 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 92.239 95.780 100.000 104.633 107.240 112.372 120.587 128.653 134.287 135.503 121.932 123.773 125.755 126.884 129.560 132.247 133.555 134.163 134.427 135.118 135.779 135.502 135.409 135.280 134.496 Exports Imports Total 98.905 98.313 100.000 99.625 99.272 101.429 104.997 108.803 112.537 116.537 105.257 106.346 107.537 108.491 109.154 109.963 110.705 112.337 113.620 113.403 114.412 115.891 116.971 118.683 121.178 95.354 95.960 100.000 97.497 96.342 99.686 104.526 111.117 115.610 119.617 105.154 106.913 107.518 110.033 112.778 113.996 113.564 116.334 117.688 114.834 115.114 118.408 120.572 124.360 128.072 94.512 96.883 100.000 101.908 105.632 110.095 115.322 120.914 125.622 129.265 115.857 116.616 119.834 120.507 121.530 121.767 124.460 125.684 126.095 126.242 127.884 129.096 129.619 130.414 132.358 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND National defense Nondefense State and local 94.643 96.886 100.000 102.002 105.792 110.751 115.932 122.034 127.026 130.692 116.515 117.412 120.843 121.586 122.651 123.042 125.797 127.100 127.611 127.575 129.146 130.446 131.063 132.042 133.930 94.269 96.880 100.000 101.738 105.345 108.898 114.218 118.807 122.959 126.565 114.656 115.141 117.950 118.481 119.423 119.355 121.931 122.997 123.213 123.724 125.512 126.549 126.885 127.303 129.363 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 96.469 100.000 100.751 102.362 104.931 108.748 112.086 115.304 117.825 105.926 106.621 107.402 108.325 109.287 109.977 110.812 111.583 112.808 113.143 114.482 115.175 115.481 116.080 116.254 117.349 118.763 118.934 119.201 GDP chain-type price index GDP implicit price deflator 96.475 97.868 100.000 102.402 104.193 106.409 109.462 113.005 116.568 119.668 106.616 107.204 108.180 109.185 109.807 110.677 111.745 112.455 113.422 114.398 115.363 116.350 117.030 117.527 118.750 119.527 119.837 120.560 121.334 PCE (chain-type price index) PCE less food and energy price index 95.978 97.575 100.000 102.094 103.542 105.597 108.392 111.588 114.675 117.591 105.851 106.242 107.163 108.179 108.703 109.521 110.119 111.037 112.205 112.989 113.480 114.670 115.406 115.143 116.129 117.345 117.873 119.019 120.035 96.895 98.343 100.000 101.904 103.705 105.175 107.338 109.670 112.130 114.483 105.384 105.806 106.442 107.142 107.601 108.169 108.858 109.422 109.878 110.520 111.078 111.871 112.519 113.052 113.730 114.116 114.682 115.403 115.999 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.000 116.567 119.664 106.611 107.190 108.175 109.178 109.793 110.671 111.726 112.446 113.405 114.389 115.357 116.347 117.026 117.522 118.745 119.519 119.826 120.542 121.310 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 3.5 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 .9 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 2.6 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 2.6 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 3.5 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 2.1 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 PRODPC68 with ECOIND 1998 ........................................................ 1999 ........................................................ 2000 ........................................................ 2001 ........................................................ 2002 ........................................................ 2003 ........................................................ 2004 ........................................................ 2005 ........................................................ 2006 ........................................................ 2007 r ....................................................... 2005: I ................................................... II ................................................. III ................................................ IV ................................................ 2006: I ................................................... II ................................................. III ................................................ IV ................................................ 2007: I ................................................... II ................................................. III ................................................ IV r ............................................... 2008: I p ................................................. 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 7,084.7 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 6,260.6 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. Total 0.645 .652 .672 .688 .685 .687 .683 .699 .718 .741 .694 .691 .704 .705 .710 .715 .714 .733 .740 .740 .740 .746 .748 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 00:54 Jun 11, 2008 Jkt 042764 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 r .......... 2004: III ... IV ... 2005: I ...... II .... III ... IV ... 2006: I ...... II .... III ... IV ... 2007: I ...... II ..... III ... IV r .. 2008: 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 12,507.2 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 8,110.8 Farm 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 37.4 Nonfarm 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 1,018.4 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 ¥73.8 487.1 495.4 559.0 566.3 520.9 524.7 491.2 558.0 598.5 602.6 483.9 491.8 534.0 546.7 568.5 583.0 592.9 611.0 594.2 596.0 599.6 592.4 599.3 619.0 614.9 639.8 674.0 708.9 728.6 762.8 807.2 863.8 921.6 967.3 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 1,034.2 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 78.9 801.6 851.3 817.9 767.3 886.3 993.1 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 1,574.2 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 1,647.9 718.3 775.9 773.4 707.9 768.4 908.1 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 1,746.6 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 ¥98.7 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 97.9 101.1 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 NOTE.—Revisions include changes to series affected by revised wage and salary estimates for 2007: IV. 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 PRODPC68 with ECOIND 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 8,369.7 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 1,228.2 Motor vehicles and parts 339.0 372.4 386.5 405.8 429.0 442.1 450.8 451.3 437.3 446.9 450.9 457.8 449.6 464.4 470.7 420.4 435.7 434.3 439.5 439.6 451.5 448.2 442.3 445.5 429.6 Furniture and household equipment 244.7 280.7 312.9 331.8 364.3 397.8 445.1 492.2 550.9 593.6 451.7 460.8 472.6 483.4 499.0 513.8 536.8 544.4 555.4 566.9 579.9 585.9 601.0 607.7 608.6 Nondurable goods Other 137.6 151.7 163.9 163.2 172.4 183.2 195.1 205.5 213.9 222.2 195.9 198.7 202.9 207.3 204.6 207.4 214.5 212.4 213.6 215.2 216.6 220.2 227.2 224.9 222.7 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 2,402.2 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 1,129.5 1 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Gasoline and oil Clothing and shoes 263.1 282.7 297.7 303.7 318.3 334.2 350.7 372.6 391.1 409.1 350.2 357.5 363.4 372.3 372.3 382.3 386.2 388.0 393.3 397.0 405.1 407.5 413.7 409.9 411.6 170.3 176.3 175.7 178.3 181.9 183.2 186.7 186.1 186.8 183.1 186.5 187.0 187.8 186.1 184.3 186.1 187.2 187.1 188.3 184.8 184.1 182.8 183.2 182.1 180.5 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 Total services 1 Other 481.1 508.6 532.9 549.2 567.1 593.2 618.0 639.1 662.2 686.6 623.0 626.9 631.7 637.4 641.1 646.2 655.3 663.4 669.5 676.5 681.7 684.7 690.2 689.9 687.6 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 4,757.4 00:54 Jun 11, 2008 Jkt 042764 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 1,364.1 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 $20.1 billion (annual rate) in April following an increase of $44.7 billion in March. Wages and salaries fell $14.4 billion in April following an increase of $30.3 billion in March. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received 1998 ................. 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 r ................ 2007: Apr ........ May ....... June ...... July ....... Aug ....... Sept ....... Oct r ....... Nov r ...... Dec r ....... 2008: Jan r ....... Feb r ....... Mar r ...... Apr p ...... 1 With 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 11,529.8 11,575.7 11,626.5 11,683.7 11,735.9 11,785.5 11,831.4 11,875.8 11,935.6 11,963.9 12,023.2 12,067.9 12,088.0 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 7,776.5 7,796.8 7,832.3 7,853.7 7,876.4 7,918.1 7,946.3 7,986.8 8,022.1 8,068.9 8,098.6 8,134.7 8,124.1 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 6,298.3 6,314.1 6,344.2 6,358.6 6,376.8 6,412.9 6,435.2 6,470.0 6,500.0 6,534.3 6,558.1 6,588.4 6,574.0 836.7 885.7 953.4 999.3 1,110.3 1,197.7 1,276.9 1,356.8 1,422.6 1,492.5 1,478.3 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 1,546.4 1,550.1 Farm Nonfarm 29.4 28.6 22.7 19.7 10.6 29.2 37.3 30.8 19.4 36.2 31.9 33.1 34.4 36.2 38.7 41.0 42.1 43.7 45.7 41.4 37.9 33.0 33.0 inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. 598.4 649.7 705.7 752.2 757.8 782.1 874.3 939.1 987.4 1,006.4 1,003.1 1,006.1 1,006.7 1,015.1 1,012.0 1,002.9 1,008.5 1,016.1 1,011.7 1,020.9 1,017.2 1,017.2 1,016.2 137.5 147.3 150.3 167.4 152.9 133.0 118.4 42.9 54.5 65.4 58.3 61.6 66.5 66.9 68.3 70.1 74.0 77.8 81.6 80.3 78.8 77.6 87.6 Total 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 1,918.4 1,930.1 1,941.5 1,959.0 1,976.3 1,993.2 1,996.5 1,999.9 2,003.1 2,007.4 2,012.7 2,017.6 2,023.0 Personal interest income Personal dividend income 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 1,145.0 1,148.4 1,151.8 1,161.5 1,171.1 1,180.8 1,177.0 1,173.2 1,169.4 1,169.4 1,169.3 1,169.2 1,170.3 349.9 335.6 376.1 369.0 397.2 422.6 537.0 598.9 696.3 792.5 773.4 781.7 789.7 797.5 805.1 812.4 819.5 826.6 833.7 838.1 843.4 848.4 852.8 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 1,711.4 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 1,807.3 1,821.6 Less: Contributions for government social insurance 624.2 661.4 702.7 731.1 750.0 778.6 828.8 874.8 927.6 979.9 969.9 971.6 975.2 980.4 982.3 986.9 989.9 994.4 998.2 1,012.5 1,015.7 1,019.6 1,017.6 NOTE.—Revisions include changes to series affected by revised wage and salary estimates for 2007: IV. Source: Department of Commerce, Bureau of Economic Analysis. 3 Consists wwoods2 on PRODPC68 with ECOIND Personal income receipts on assets Rental income of persons 2 5 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 0.9 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 ............ 7,423.0 1999 ............ 7,802.4 2000 ............ 8,429.7 2001 ............ 8,724.1 2002 ............ 8,881.9 2003 ............ 9,163.6 2004 ............ 9,727.2 2005 ............ 10,301.1 2006 ............ 10,983.4 2007 r .......... 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 28,794 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 33,061 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 27,544 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 .9 1.8 2.5 1.0 .8 ¥.5 .8 .9 .3 .0 .4 1.0 .3 .4 .2 .6 293,991 294,722 295,342 295,969 296,719 297,462 298,101 298,774 299,568 300,351 301,004 301,667 302,452 303,225 303,868 2004: III .... IV .... 2005: I ....... II ..... III .... IV .... 2006: I ....... II ..... III .... IV .... 2007: I ....... II ..... III .... IV r ... 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 12,018.4 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 1,516.1 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 10,502.3 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 10,441.2 155.2 224.2 88.7 67.8 ¥48.8 70.8 84.5 30.0 ¥1.4 42.0 97.0 30.5 44.4 19.3 61.1 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 8,749.7 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 34,562 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2007: IV. Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 wwoods2 on PRODPC68 with ECOIND 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 PRODPC68 with ECOIND 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 00:54 Jun 11, 2008 Jkt 042764 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 preliminary estimates, corporate profits before tax fell $133.3 billion (annual rate) and profits after tax rose $96.4 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 PRODPC68 with ECOIND 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 p ... 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 1,647.9 635.5 655.3 613.6 549.5 610.4 729.0 968.2 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 1,246.2 165.4 194.3 200.2 227.6 276.4 317.3 348.9 423.6 505.3 498.5 292.4 405.7 464.8 429.3 364.8 435.6 478.7 521.0 500.3 521.0 493.0 546.4 514.2 440.3 418.7 470.1 461.1 413.4 322.0 334.0 411.8 619.3 901.6 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 1,004.1 973.4 827.5 157.0 150.6 144.3 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 ................ 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 ................ 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 .............. 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 .............. 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 1,746.6 248.3 258.6 265.2 204.1 192.6 243.3 307.4 392.9 453.9 466.6 302.5 337.3 389.0 393.8 373.1 415.6 432.8 460.0 470.4 452.4 452.5 490.1 469.4 454.4 417.5 470.0 517.2 508.2 503.8 575.8 664.8 897.3 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 1,329.1 351.6 337.4 377.9 370.9 399.2 424.7 539.5 601.4 698.9 795.2 528.5 654.8 566.0 588.1 612.6 638.7 662.5 685.6 711.1 736.4 759.4 784.2 807.7 829.4 846.4 118.3 179.9 130.3 132.9 176.6 240.1 357.8 585.3 653.0 614.9 368.3 299.3 603.4 596.8 542.6 598.6 644.9 696.8 670.0 600.3 603.9 657.2 602.5 596.1 482.7 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 ¥98.7 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 00:54 Jun 11, 2008 Jkt 042764 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 fell $0.9 billion (annual rate) and residential investment fell $30.6 billion. There was a decrease of $14.4 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 PRODPC68 with ECOIND 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 1,757.9 1,815.2 1,829.3 1,826.0 1,807.5 1,771.2 1,321.7 1,356.6 1,387.3 1,407.8 1,406.9 282.6 299.5 311.1 320.3 321.2 1,045.3 1,057.4 1,073.5 1,081.7 1,079.3 506.3 490.7 463.3 430.9 400.3 .1 5.8 30.6 ¥18.3 ¥14.4 ¥5.8 1.3 26.0 ¥21.7 ¥13.6 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 00:54 Jun 11, 2008 Jkt 042764 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 Structures Information processing equipment and software Total fixed investment Total nonresidential Structures Total Computers and peripheral equipment 1 Software Total Transportation equipment Other equipment Total residential Total 2 Single family Other Industrial equipment Equipment ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... 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 ..................... 1,771.2 1,406.9 321.2 1,079.3 681.1 ............. 238.2 222.0 151.8 125.4 147.6 400.3 391.7 163.7 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 PRODPC68 with ECOIND 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 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In May, employment fell by 285,000 and unemployment rose by 861,000. [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: May ........... June .......... July ........... Aug ........... Sept ........... Oct ............ Nov ............ Dec ............ 2008: Jan 2 .......... Feb ............ Mar ............ Apr ............. May ............ Civilian noninstitutional population (NSA) Civilian labor force 205,220 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 231,867 231,480 231,713 231,958 232,211 232,461 232,715 232,939 233,156 232,616 232,809 232,995 233,198 233,405 137,673 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 153,124 152,776 153,085 153,182 152,886 153,506 153,306 153,828 153,866 153,824 153,374 153,784 153,957 154,534 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years 131,463 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 146,047 145,913 146,087 146,045 145,753 146,260 146,016 146,647 146,211 146,248 145,993 145,969 146,331 146,046 67,135 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 75,337 75,343 75,292 75,324 75,274 75,332 75,274 75,834 75,499 75,427 75,362 75,197 75,148 75,001 57,278 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,799 64,710 64,828 64,792 64,826 65,033 64,827 65,980 64,912 65,098 64,950 65,055 65,260 65,138 7,051 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 5,911 5,860 5,968 5,930 5,653 5,895 5,914 5,832 5,801 5,724 5,681 5,717 5,923 5,907 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. Total 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 6,863 6,997 7,137 7,133 7,246 7,291 7,181 7,655 7,576 7,381 7,815 7,626 8,487 Men 20 years and over 2,580 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,259 3,154 3,212 3,295 3,252 3,357 3,389 3,240 3,505 3,437 3,386 3,641 3,628 3,877 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 2,608 2,653 2,774 2,790 2,762 2,796 2,796 2,954 2,885 2,865 3,104 2,916 3,252 1,205 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,101 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 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 66.0 66.1 66.0 65.8 66.0 65.9 66.0 66.0 66.1 65.9 66.0 66.0 66.2 64.1 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.0 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 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.5 4.6 4.7 4.7 4.7 4.8 4.7 5.0 4.9 4.8 5.1 5.0 5.5 67,547 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 78,743 78,704 78,628 78,776 79,325 78,955 79,409 79,111 79,290 78,792 79,436 79,211 79,241 78,872 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 wwoods2 on PRODPC68 with ECOIND Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In May, the unemployment rate rose to 5.5 percent from 5.0 percent in April. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 wwoods2 on PRODPC68 with ECOIND Period All civilian workers 1998 ......................... 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2007 ......................... 2007: May .............. June ............. July .............. Aug .............. Sept .............. Oct ............... Nov .............. Dec ............... 2008: Jan ............... Feb ............... Mar ............... Apr ............... May ............... 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 4.0 4.1 4.2 4.1 4.3 4.3 4.1 4.4 4.4 4.3 4.6 4.6 4.9 4.1 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.0 3.9 3.9 4.1 4.1 4.1 4.1 4.1 4.4 4.2 4.2 4.6 4.3 4.8 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.5 4.6 4.7 4.7 4.7 4.8 4.7 5.0 4.9 4.8 5.1 5.0 5.5 Both sexes 16–19 years 14.6 13.9 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.7 15.8 16.0 15.3 16.2 16.0 15.7 16.4 17.1 18.0 16.6 15.8 15.4 18.7 White 3.9 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 4.0 4.1 4.2 4.2 4.2 4.2 4.2 4.4 4.4 4.3 4.5 4.4 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 8.4 8.1 7.7 8.2 8.5 8.4 9.0 9.2 8.3 9.0 8.6 9.7 .......... .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.2 2.9 3.1 3.0 3.4 3.2 3.7 3.6 3.7 3.2 3.0 3.6 3.2 3.8 7.2 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.6 5.8 5.7 5.9 5.5 5.7 5.6 5.7 6.3 6.3 6.2 6.9 6.9 6.9 Married men, spouse present 00:54 Jun 11, 2008 Jkt 042764 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 6.3 6.8 6.8 6.2 6.4 6.3 6.6 6.9 7.0 6.7 7.1 6.8 6.9 4.3 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.6 4.4 4.5 4.6 4.6 4.7 4.7 4.6 4.9 4.8 4.8 5.0 5.0 5.5 5.3 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 4.9 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 2.4 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 2.6 2.4 2.7 2.5 2.5 2.6 2.6 2.7 2.7 2.7 2.8 2.8 2.9 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 May, the percentages of the unemployed who had been out of work for less than 5 weeks and for 27 weeks and over rose; the percentages for 5–14 weeks and for 15–26 weeks fell. The mean duration of unemployment fell to 16.6 weeks and the median duration fell to 8.3 weeks. [Monthly data seasonally adjusted, except as noted] Duration of unemployment Period Unemployment (thousands) Percent distribution Less than 5 weeks 5–14 weeks 15–26 weeks Reason for unemployment: percent distribution State programs Number of weeks 27 weeks and over Average (mean) Median Job losers 1 Job leavers Reentrants New entrants Insured unemployment Initial claims Insured unemployment, all regular programs (unadjusted) 2 1998 ........................................ 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2007 ........................................ 2007: May ............................. June ............................ July ............................. Aug .............................. Sept ............................. Oct .............................. Nov .............................. Dec .............................. 2008: Jan .............................. Feb .............................. Mar .............................. Apr ............................... May .............................. 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 6,863 6,997 7,137 7,133 7,246 7,291 7,181 7,655 7,576 7,381 7,815 7,626 8,487 42.2 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 35.9 35.8 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 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 31.5 31.7 30.8 31.2 30.6 32.1 33.5 30.0 30.5 31.8 32.3 32.8 32.8 29.1 12.3 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 15.0 16.0 16.4 15.3 15.6 15.3 14.4 14.1 15.5 14.9 14.6 14.5 16.7 14.4 14.1 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 17.6 16.5 16.7 18.4 17.4 17.6 17.9 19.3 17.5 18.3 17.5 16.7 17.8 18.3 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 16.6 16.8 17.3 16.9 16.6 17.0 17.2 16.6 17.5 16.8 16.2 16.9 16.6 6.7 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.5 8.3 8.3 8.9 8.6 8.9 8.7 8.7 8.4 8.8 8.4 8.1 9.3 8.3 45.5 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 49.7 49.3 49.0 50.8 51.1 49.6 50.9 50.0 50.1 50.7 52.2 53.7 52.7 50.7 11.8 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.2 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 34.3 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.3 31.4 30.4 29.2 29.2 29.5 28.7 29.9 30.4 29.4 28.6 27.4 28.0 29.1 8.4 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 8.9 8.1 9.0 8.4 8.5 9.4 9.7 9.3 9.1 8.9 8.8 8.8 8.2 9.8 2,222 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,571 2,504 2,529 2,550 2,579 2,553 2,573 2,620 2,696 2,718 2,776 2,910 3,012 .............. 321 298 301 404 407 404 345 328 313 324 307 318 309 324 319 329 339 344 337 346 374 r 365 p 368 2,257 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,609 2,238 2,279 2,703 2,269 2,344 2,256 2,271 r 3,068 3,270 3,256 3,553 3,037 ................. NOTE.—Data relate to persons age 16 years and over (except for insured unemployment and initial claims). Seasonally adjusted insured and initial unemployment claims data reflect annual revisions. Source: Department of Labor (Bureau of Labor Statistics and Employment and Training Administration). 13 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 wwoods2 on PRODPC68 with ECOIND Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey fell by 49,000 in May. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries Period .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. May ........ June ....... July ........ Aug ........ Sept ....... Oct ......... Nov ........ Dec ......... 2008: Jan ......... Feb ........ Mar r ....... Apr r ....... May p ...... wwoods2 on PRODPC68 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007: 125,930 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,086 137,623 137,518 137,625 138,682 137,756 137,837 137,977 138,037 138,078 138,002 137,919 137,831 137,803 137,754 Total 2 24,354 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,531 22,221 22,272 22,267 22,242 22,176 22,138 22,101 22,049 21,976 21,907 21,816 21,737 21,637 21,580 Construction 6,149 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,691 7,614 7,643 7,656 7,632 7,605 7,589 7,577 7,520 7,465 7,426 7,382 7,343 7,291 7,257 Manufacturing 17,560 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,155 13,884 13,910 13,890 13,884 13,844 13,822 13,797 13,794 13,772 13,737 13,690 13,644 13,595 13,569 Service-providing industries Trade, transportation, and utilities Total 101,576 104,528 107,136 107,952 107,784 108,183 109,553 111,513 113,556 115,402 115,246 115,358 115,440 115,580 115,699 115,876 115,988 116,102 116,095 116,103 116,094 116,166 116,174 Total 3 Retail trade 25,186 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,276 26,608 26,593 26,600 26,617 26,640 26,649 26,644 26,693 26,658 26,631 26,579 26,552 26,506 26,465 14,609 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,353 15,491 15,500 15,484 15,489 15,502 15,487 15,469 15,513 15,488 15,472 15,429 15,401 15,363 15,336 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 3,037 3,033 3,027 3,024 3,031 3,027 3,022 3,018 3,014 3,016 3,013 3,007 3,004 Financial activities 7,462 7,648 7,687 7,808 7,847 7,977 8,031 8,153 8,328 8,308 8,322 8,317 8,331 8,312 8,294 8,283 8,260 8,252 8,244 8,231 8,231 8,232 8,231 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 17,938 17,935 17,958 17,979 18,000 18,070 18,079 18,131 18,101 18,073 18,014 18,046 18,007 14,446 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,826 18,327 18,247 18,314 18,360 18,422 18,451 18,490 18,522 18,568 18,617 18,665 18,709 18,770 18,824 00:54 Jun 11, 2008 Jkt 042764 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 5,495 5,496 5,501 5,497 5,495 5,496 5,506 5,507 5,508 5,517 5,522 5,528 5,537 19,909 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,974 22,203 22,186 22,202 22,170 22,212 22,227 22,262 22,278 22,333 22,336 22,362 22,377 22,389 22,406 Federal 2,772 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,732 2,727 2,727 2,720 2,726 2,724 2,721 2,722 2,728 2,735 2,717 2,725 2,726 2,730 2,728 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 13,428 13,461 13,476 13,494 13,552 13,604 13,628 13,635 13,644 13,660 13,676 13,688 13,700 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: ..................... ..................... .................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... Apr ........... May ........... June .......... July ........... Aug ........... Sept .......... Oct ............ Nov ........... Dec ........... 2008: Jan ........... Feb ........... Mar r .......... Apr r .......... May p ......... 34.5 34.3 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.8 33.8 33.8 33.9 33.8 33.8 33.8 33.8 33.8 33.8 33.7 33.7 33.8 33.7 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 41.1 41.4 41.4 41.3 41.4 41.2 41.3 41.1 41.1 41.1 41.2 41.0 41.0 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 4.2 4.1 4.3 4.2 4.2 4.2 4.1 4.1 4.0 4.0 4.0 4.0 4.0 3.8 $13.01 13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 17.42 17.29 17.34 17.41 17.47 17.51 17.57 17.59 17.64 17.70 17.75 17.81 17.87 17.89 17.94 1982 dollars 2 $7.89 8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.32 8.33 8.31 8.32 8.33 8.35 8.35 8.34 8.27 8.27 8.26 8.29 8.28 8.27 .............. Total private nonagricultural 1 Manufacturing $13.45 13.85 14.32 14.76 15.29 15.74 16.14 16.56 16.81 17.26 17.20 17.23 17.28 17.30 17.33 17.34 17.34 17.40 17.41 17.49 17.55 17.61 17.61 17.63 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 $448.56 463.15 481.01 493.79 506.75 518.06 529.09 544.33 567.87 589.72 584.40 586.09 590.20 590.49 591.84 593.87 594.54 596.23 598.26 598.18 600.20 604.01 602.89 604.58 $272.18 275.03 275.97 275.71 279.20 279.13 277.88 276.17 279.19 281.82 281.54 280.83 282.17 281.65 282.30 282.20 281.72 279.67 279.53 278.27 279.21 279.96 278.80 .............. $557.09 573.25 590.77 595.19 618.75 635.99 658.49 673.33 691.02 711.36 706.92 708.15 715.39 716.22 715.73 717.88 714.41 718.62 715.55 718.84 721.31 725.53 722.01 722.83 $629.75 655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.21 816.06 807.56 813.40 818.75 814.57 815.19 821.57 821.73 828.92 830.70 829.54 830.89 838.68 838.08 836.85 $310.34 321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.02 385.20 383.84 383.17 385.05 384.98 385.28 387.47 387.09 386.86 385.58 386.56 386.48 388.37 388.37 387.99 Current dollars 3.9 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 3.8 3.5 4.1 4.1 3.7 3.7 4.1 3.5 3.8 3.4 3.4 3.7 3.3 3.2 3.2 1982 dollars 2.5 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 .9 .9 1.3 1.5 1.4 1.9 1.2 ¥.3 ¥.8 ¥1.0 ¥1.4 ¥.8 ¥.9 ¥1.0 .............. 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 PRODPC68 with ECOIND 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 00:54 Jun 11, 2008 Jkt 042764 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 Business sector Nonfarm business sector Real compensation per hour 4 Business sector Nonfarm business sector Unit labor costs Business sector Nonfarm business sector Implicit price deflator 5 Business sector Nonfarm business sector Indexes, 1992=100; quarterly data seasonally adjusted 1998 ........................ 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 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 * ............... 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 r 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 r 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 r 1.4 ¥.5 .3 .9 r 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 r ....................... 2004: I r .................. II r ................ III r ............... IV 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 * ............... 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 PRODPC68 with ECOIND 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 4.5 r 2.8 r 2.6 3.6 1.4 1.9 r 1.8 r 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 3.7 1.1 2.0 r 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 00:54 Jun 11, 2008 Jkt 042764 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 April. [Monthly data seasonally adjusted] Percent Period wwoods2 on PRODPC68 with ECOIND 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 98.3 101.4 101.5 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: Apr .............. May ............. June ............ July ............. Aug ............. Sept ............ Oct .............. Nov r ............ Dec r ............ 111.0 111.0 111.4 112.0 112.0 112.3 111.8 112.3 112.4 0.5 .0 .3 .6 .0 .3 ¥.4 .4 .1 1.4 1.5 1.4 1.7 1.6 2.2 1.9 2.5 2.1 112.4 112.6 113.2 114.1 113.6 114.0 113.5 113.8 113.8 120.0 120.2 121.5 122.9 122.4 122.4 122.2 122.9 122.8 106.5 106.6 106.6 107.1 106.6 107.3 106.7 106.6 106.8 93.8 93.2 93.5 93.2 92.8 93.2 92.2 91.7 92.0 100.7 100.6 100.9 101.5 101.2 101.3 101.3 102.9 104.3 108.7 107.7 106.5 105.6 109.3 109.0 108.4 109.1 108.2 81.0 80.9 81.0 81.4 81.2 81.3 80.8 81.1 81.0 79.4 79.4 79.6 80.1 79.6 79.8 79.2 79.3 79.2 2008: Jan r Feb r Mar r Apr p 112.6 111.8 112.0 111.2 .1 ¥.7 .2 ¥.7 2.6 1.1 1.4 0.2 113.8 113.0 113.0 112.1 122.8 122.1 122.1 120.4 106.8 106.0 106.0 105.9 91.4 90.5 90.6 89.0 103.4 103.7 104.7 103.9 111.0 108.4 109.2 109.6 81.0 80.3 80.4 79.7 79.1 78.4 78.3 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 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00017 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.017 ECOIND G:\graphics\eecoind.017 Total industrial production 1 INDUSTRIAL PRODUCTION—MAJOR MARKET GROUPS AND SELECTED MANUFACTURES [2002=100; monthly data seasonally adjusted] Products and nonindustrial supplies Materials Final products Nonindustrial supplies Consumer goods Equipment Durable goods Business equipment Period Total Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Nondurable goods 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 99.6 101.8 106.4 108.8 106.1 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: Apr .................................................. May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov r ................................................ Dec r ................................................. 112.4 112.4 112.9 113.7 113.4 114.0 113.0 113.3 113.5 107.5 107.3 107.6 108.2 107.9 108.4 107.3 107.4 107.4 104.0 103.6 105.0 105.8 104.6 103.5 102.4 102.9 102.9 108.6 108.4 108.3 108.9 108.9 109.9 108.8 108.8 108.8 125.6 126.0 127.2 128.3 128.0 128.9 128.1 128.9 129.7 126.9 127.2 128.3 129.6 129.4 130.5 129.9 130.2 131.1 114.6 115.7 117.4 118.1 117.9 118.4 118.3 120.2 119.8 108.1 107.9 108.2 108.2 108.3 108.4 107.9 107.9 107.7 106.1 106.5 107.3 107.4 107.1 106.6 105.4 104.5 104.8 108.9 108.4 108.5 108.5 108.7 109.1 108.8 109.2 108.9 110.6 110.7 111.0 111.8 112.0 112.0 112.2 113.0 113.2 100.7 100.8 100.5 100.8 102.1 101.6 102.5 103.3 104.1 2008: Jan r ................................................. Feb r ................................................. Mar r ................................................ Apr p ................................................ 113.9 113.2 113.1 112.3 108.0 107.1 106.7 105.8 101.3 100.1 98.1 94.1 110.1 109.3 109.4 109.4 129.9 129.5 130.4 129.8 131.4 131.2 132.1 130.7 120.8 119.3 119.5 121.5 107.9 106.4 106.8 105.9 104.5 103.1 102.7 101.1 109.2 107.8 108.4 107.9 113.0 112.4 112.8 112.0 104.1 103.7 104.7 104.1 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metals Period Total Iron and steel products Fabricated metal products Machinery Total Selected hightechnology 1 Transportation equipment Total Motor vehicles and parts Apparel Printing and support Chemical Food 1998 ............................................................ 1999 ............................................................ 2000 ............................................................ 2001 ............................................................ 2002 ............................................................ 2003 ............................................................ 2004 ............................................................ 2005 ............................................................ 2006 ............................................................ 2007 r .......................................................... 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 77.2 101.3 103.6 100.0 113.8 129.0 143.5 164.6 183.3 49.1 70.0 98.4 101.7 100.0 119.7 136.5 157.2 190.6 224.3 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: Apr .................................................. May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov r ................................................ Dec r ................................................. 110.4 110.2 109.6 113.2 111.4 109.2 110.0 111.0 113.1 115.7 116.2 115.6 117.6 116.6 112.8 116.0 118.3 121.6 111.4 111.3 112.2 112.6 112.8 113.2 113.1 113.7 113.2 116.4 117.0 116.3 117.4 116.2 118.0 116.4 115.4 114.8 176.6 177.4 181.3 185.6 186.5 188.3 192.8 196.2 197.3 211.1 213.9 220.5 229.2 231.1 234.6 243.2 247.5 249.1 105.7 105.8 107.9 108.9 108.1 106.9 105.9 106.9 106.8 98.1 97.5 99.5 100.8 99.3 96.6 95.1 95.8 95.9 76.8 76.5 76.2 76.2 75.2 74.4 73.6 73.4 75.1 100.8 99.5 98.7 98.4 99.1 99.6 98.9 99.4 99.0 114.3 114.1 114.0 114.5 114.2 115.0 114.5 114.7 114.7 109.3 109.1 110.1 111.4 110.5 111.7 111.2 111.3 112.0 2008: Jan r ................................................. Feb r ................................................. Mar r ................................................ Apr p ................................................ 115.6 114.8 113.5 113.6 121.7 124.6 119.4 119.6 113.5 113.3 113.4 111.7 115.1 114.2 114.3 112.4 197.4 200.8 203.9 206.1 249.4 254.4 260.2 262.9 106.0 104.6 102.2 97.6 94.1 92.9 88.9 81.6 74.3 74.0 72.8 72.7 98.4 97.2 98.4 97.2 114.6 114.0 113.7 113.6 112.2 111.8 113.3 113.8 1 Computers and peripheral equipment, communications equipment, and semiconductors and related electronic components. wwoods2 on PRODPC68 with ECOIND Nondurable manufactures Computer and electronic products Source: Board of Governors of the Federal Reserve System. 18 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 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 .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... Apr .......................... May ......................... June ........................ July ......................... Aug .......................... Sept ......................... Oct ........................... Nov .......................... Dec .......................... 706.8 768.8 831.1 864.2 873.1 921.4 1,023.5 1,132.1 1,192.2 1,161.3 1,166.2 1,172.1 1,170.5 1,161.1 1,165.3 1,168.3 1,157.5 1,156.0 1,136.6 552.0 599.7 649.8 662.2 659.7 705.3 803.3 898.0 937.0 874.8 888.0 888.1 885.0 874.4 875.9 874.1 859.1 856.4 844.0 314.6 350.6 374.5 388.3 421.9 475.9 564.8 641.3 641.3 525.5 551.7 544.8 538.7 528.0 520.1 509.0 490.0 482.0 470.2 224.0 251.3 265.0 279.4 298.8 345.7 417.5 480.8 469.0 352.5 378.0 370.6 364.7 357.3 346.6 334.3 321.3 306.3 289.9 237.4 249.2 275.3 273.9 237.7 229.3 238.5 256.6 295.7 349.3 336.3 343.3 346.3 346.4 355.8 365.1 369.1 374.4 373.8 14.8 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.7 28.5 26.2 28.1 28.5 29.9 30.8 32.0 33.3 33.9 31.8 40.4 45.1 52.4 49.7 35.3 30.6 32.9 37.3 46.2 55.2 52.8 52.7 54.3 53.4 55.9 58.1 58.7 58.0 57.5 55.7 59.4 64.1 63.6 59.0 57.5 63.2 66.6 72.1 81.8 82.3 82.3 82.4 82.1 82.2 83.2 84.3 83.4 80.3 40.5 35.1 37.6 37.8 22.7 21.4 23.7 29.9 34.3 37.6 36.5 37.4 36.4 36.2 36.4 37.3 39.3 41.2 45.1 86.0 93.7 104.9 108.2 110.2 109.9 106.8 110.2 125.4 146.3 138.5 142.8 144.7 144.8 150.6 154.3 153.5 158.0 159.0 154.8 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.2 286.5 278.1 284.1 285.5 286.7 289.4 294.2 298.5 299.6 292.6 2008: Jan .......................... Feb r ......................... Mar r ........................ Apr p ......................... 1,132.4 1,132.3 1,125.8 1,120.9 839.1 837.2 827.7 823.8 465.9 459.8 445.8 435.8 278.4 268.4 258.2 249.0 373.2 377.5 381.8 388.0 31.8 33.7 35.4 38.1 58.7 58.9 60.5 60.7 81.3 82.5 81.0 82.6 45.2 44.7 44.1 45.7 156.2 157.7 160.9 160.9 293.3 295.1 298.1 297.1 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not shown separately. Source: Department of Commerce, Bureau of the Census. NEW PRIVATE HOUSING AND VACANCY RATES [Thousands of units or houses, except as noted] New private housing units 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 r 536 494 7.9 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 9.8 Seasonally adjusted annual rates 2007: Apr r ........................... May r .......................... June r ......................... July r .......................... Aug r ........................... Sept r .......................... Oct r ........................... Nov r ........................... Dec r .......................... 1,487 1,436 1,458 1,371 1,337 1,185 1,275 1,179 1,000 1,198 1,146 1,136 1,055 968 936 884 816 779 36 34 38 40 37 29 40 21 10 253 256 284 276 332 220 351 342 211 1,489 1,522 1,433 1,386 1,343 1,277 1,182 1,187 1,111 1,535 1,549 1,491 1,515 1,498 1,378 1,401 1,404 1,329 907 857 793 796 702 694 723 629 600 549 545 543 539 533 528 513 502 494 ...................... ...................... 9.5 ...................... ...................... 9.8 ...................... ...................... 9.6 2008: Jan r Feb r Mar r Apr p 1,064 1,107 954 1,032 750 722 704 692 27 29 18 14 287 356 232 326 1,052 981 932 982 1,331 1,251 1,190 1,000 597 572 509 526 484 475 467 456 ...................... ...................... 10.1 ...................... ........................... ........................... .......................... ........................... 1 Derived; seasonally adjusted monthly data for 2–4 units are no longer published. adjusted. series. Quarterly data entered in last month of quarter. 4 Based on 20,000 permit-issuing places. Based on 19,000 places, the total for 2004 is 2,052.1 thousand units. 2 Seasonally wwoods2 on PRODPC68 with ECOIND 3 Revised NOTE.—Beginning 2004, units authorized are for 20,000 permit-issuing places. For other data shown, units authorized are for 19,000 places. Beginning 1999, housing starts, completions, and sales are not directly comparable with earlier data due to new estimation methods. Seasonally adjusted data beginning 2006 for housing units authorized, started, and completed and for houses sold and for sale reflect annual revisions. Source: Department of Commerce, Bureau of the Census. 19 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 preliminary estimates, manufacturing and trade sales rose 1.2 percent; in March, sales rose 1.1 percent, while inventories rose $3.0 billion. According to advance estimates, retail sales fell 0.3 percent in April. Retail and food services sales fell 0.2 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: Mar r ................................................... Apr r ................................................... May r .................................................. June r ................................................. July r .................................................. Aug r ................................................... Sept r .................................................. Oct r .................................................... Nov r ................................................... Dec r ................................................... 1,093,846 1,103,260 1,116,607 1,111,362 1,122,017 1,117,460 1,124,287 1,131,917 1,153,365 1,144,800 1,395,099 1,399,193 1,405,357 1,410,473 1,417,346 1,421,446 1,428,075 1,430,592 1,435,815 1,443,837 2008: Jan r ................................................... Feb r ................................................... Mar p .................................................. Apr p ................................................... wwoods2 on PRODPC68 with ECOIND 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r 2007 r 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 1.28 1.27 1.26 1.27 1.26 1.27 1.27 1.26 1.24 1.26 341,337 346,315 350,497 353,052 353,796 356,747 362,515 364,887 373,884 371,569 1,160,251 1,457,953 1.26 1,148,347 1,464,497 1.28 1,160,697 1,467,515 1.26 1,174,498 .................. ................ 380,230 378,217 385,072 390,338 1 See page 21 for manufacturing. data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. 3 Seasonally adjusted, end of period. 2 Annual Retail Inventory sales ratio 4 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00020 Fmt 3401 Retail and food services sales 2 Inventories 3 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 1.47 238,278 257,797 274,518 282,131 288,845 301,264 320,526 340,141 358,978 373,556 393,980 395,470 396,684 398,549 399,757 401,695 404,863 405,003 407,837 411,955 1.15 1.14 1.13 1.13 1.13 1.13 1.12 1.11 1.09 1.11 334,880 334,219 339,780 335,372 336,465 337,278 339,547 339,407 343,926 340,168 488,131 489,037 491,677 493,968 498,945 501,694 501,217 502,812 501,539 501,218 1.46 1.46 1.45 1.47 1.48 1.49 1.48 1.48 1.46 1.47 371,322 370,636 376,430 372,272 373,615 374,336 376,820 376,802 381,280 377,909 417,143 421,078 421,700 427,363 1.10 1.11 1.10 1.09 342,378 503,313 1.47 340,599 502,744 1.48 r 341,247 500,024 1.47 340,219 ................ ................ 380,019 378,106 r 378,852 378,148 4 Annual data are averages of seasonally adjusted monthly ratios. NOTE: Total manufacturing and trade data reflect annual seasonal adjustment and benchmark revisions for manufacturing series (see page 21). Source: Department of Commerce, Bureau of the Census. 20 VerDate Aug 31 2005 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 April, manufacturers’ shipments, new and unfilled orders rose, inventories fell (Series revised.) 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 324,984 335,991 350,715 330,875 326,227 334,616 359,081 395,173 418,330 423,423 422,726 426,330 422,938 431,756 423,435 422,225 427,623 435,555 433,063 437,643 429,531 434,378 443,941 185,966 193,895 197,807 181,201 176,968 178,549 188,722 202,070 213,408 213,572 215,748 216,056 213,400 219,187 215,802 212,453 213,240 212,950 211,274 215,917 211,772 209,778 213,129 139,019 142,096 152,908 149,674 149,259 156,067 170,359 193,103 204,923 209,851 206,978 210,274 209,538 212,569 207,633 209,772 214,383 222,605 221,789 221,726 217,759 224,600 230,812 449,065 463,625 481,673 428,113 423,133 408,304 440,697 472,860 511,487 530,664 514,686 516,996 517,956 518,644 518,057 521,995 522,777 526,439 530,664 537,497 540,675 545,791 545,670 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. 290,700 296,553 306,727 267,829 260,582 246,963 265,070 283,598 309,914 320,757 313,015 313,421 313,371 313,495 313,236 314,636 315,650 317,534 320,757 322,384 323,841 327,066 329,067 158,365 167,072 174,946 160,284 162,551 161,341 175,627 189,262 201,573 209,907 201,671 203,575 204,585 205,149 204,821 207,359 207,127 208,905 209,907 215,113 216,834 218,725 216,603 317,345 329,770 346,789 322,746 316,809 330,369 354,619 395,401 419,793 427,597 428,894 427,149 427,369 442,069 426,512 425,399 430,254 437,808 445,917 435,415 433,860 440,216 445,234 178,327 187,674 193,881 173,072 167,550 174,302 184,261 202,298 214,871 217,746 221,916 216,875 217,831 229,500 218,879 215,627 215,871 215,203 224,128 213,689 216,101 215,616 214,422 62,133 64,392 69,278 58,246 51,817 52,894 56,094 65,770 71,725 74,288 78,168 73,057 75,720 80,464 70,219 74,677 72,501 75,585 78,238 73,271 74,408 75,431 74,265 496,083 505,498 549,445 514,349 462,122 477,608 496,343 572,835 660,406 773,297 693,329 699,668 708,841 724,733 732,889 740,534 748,304 755,712 773,297 777,859 786,860 797,114 804,388 1.39 1.35 1.35 1.38 1.28 1.24 1.19 1.17 1.19 1.23 1.22 1.21 1.22 1.20 1.22 1.24 1.22 1.21 1.23 1.23 1.26 1.26 1.23 Total and durable shipments and inventories include data on semiconductors; new and unfilled orders do not. Data reflect benchmark and seasonal adjustment revisions released on May 16, 2008. For details on the revisions see, Benchmark Report for Manufacturers’ Shipments, Inventories, and Orders: January 2004 Through December 2007. Source: Department of Commerce, Bureau of the Census. 21 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 wwoods2 on PRODPC68 with ECOIND 1998 r ................................................... 1999 r ................................................... 2000 r ................................................... 2001 r ................................................... 2002 r ................................................... 2003 r ................................................... 2004 r ................................................... 2005 r ................................................... 2006 r ................................................... 2007r .................................................... 2007: Apr 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 p ......................................... PRICES PRODUCER PRICES The producer price index for all finished goods rose 0.2 percent in April. Prices of finished consumer foods were unchanged, while prices of other finished consumer goods rose 0.2 percent. Capital equipment prices rose 0.4 percent. [1982=100; monthly data seasonally adjusted] Finished goods Total finished goods Finished goods excluding consumer foods Consumer foods Consumer goods Total wwoods2 on PRODPC68 with ECOIND Total 1998 ........................... 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2007 r ......................... 2007: Apr ................ May ............... June .............. July ............... Aug ................ Sept ............... Oct ................. Nov ................ Dec r ............... 2008: Jan ................ Feb ................ Mar ................ Apr ................ 1 Intermediate 130.7 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 166.6 165.5 166.5 166.6 167.5 166.1 167.0 167.9 172.3 171.4 173.3 173.9 175.8 176.1 134.3 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 167.0 167.5 166.4 166.1 166.0 166.0 167.9 170.0 169.7 171.9 174.8 173.9 176.0 176.0 129.5 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 166.2 164.7 166.2 166.4 167.6 165.8 166.4 167.0 172.7 171.0 172.6 173.7 175.4 175.8 126.4 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 175.6 173.6 175.8 175.9 177.6 175.1 175.9 176.8 184.8 182.4 184.4 185.6 188.1 188.4 Durable Nondurable 132.9 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 138.3 137.7 137.9 138.5 138.8 138.6 138.4 138.2 139.0 138.7 139.2 139.9 140.1 140.8 materials for food manufacturing and feeds. Capital equipment 122.2 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 191.7 188.9 192.2 192.1 194.5 190.9 192.3 193.6 204.9 201.5 204.2 205.7 209.2 209.4 137.6 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 149.5 149.1 149.2 149.5 149.7 149.7 149.7 149.8 150.4 150.3 150.9 151.7 151.9 152.5 128.9 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 173.5 172.2 173.4 173.5 174.6 172.8 173.9 175.1 180.8 179.7 182.0 182.6 185.0 185.2 Intermediate materials Crude materials Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 123.0 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 170.7 168.9 170.6 171.3 172.5 170.9 170.9 171.9 176.9 177.2 179.2 180.6 184.8 186.5 116.2 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 154.4 151.2 151.2 154.1 155.2 155.8 157.9 159.8 162.0 165.2 170.9 174.8 179.9 178.8 123.4 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 171.5 169.8 171.6 172.2 173.4 171.7 171.6 172.6 177.7 177.8 179.7 181.0 185.2 187.0 96.8 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 207.1 204.7 206.8 208.5 209.2 201.8 203.7 211.9 226.3 230.3 237.5 246.2 266.0 274.6 103.9 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 146.7 145.3 146.5 146.4 148.0 145.7 149.7 149.4 153.8 160.2 164.9 166.1 169.4 167.9 88.4 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 246.3 243.1 246.0 249.3 249.0 237.7 237.7 252.6 274.8 276.3 285.4 299.8 332.5 349.1 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 April, the consumer price index for all urban consumers rose 0.2 percent seasonally adjusted; it rose 0.6 percent not seasonally adjusted. The index was 3.9 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: Apr ............ May ............ June ........... July ........... Aug ............ Sept ........... Oct ............. Nov ............ Dec ............ 206.686 207.949 208.352 208.299 207.917 208.490 208.936 210.177 210.036 205.751 206.700 207.246 207.708 207.749 208.509 209.055 210.930 211.680 200.965 201.659 202.729 203.353 204.256 205.250 205.636 206.414 206.584 208.475 208.951 209.627 209.942 210.056 210.607 211.110 211.861 212.409 239.042 239.619 240.478 241.032 241.472 242.236 242.635 243.295 243.974 232.993 233.662 234.261 234.894 235.422 236.108 237.122 238.050 238.925 245.035 245.316 245.815 246.252 246.828 247.487 248.045 248.790 249.425 199.771 200.595 201.310 201.124 200.014 200.600 202.591 204.915 205.615 119.098 118.712 118.286 118.711 118.141 118.336 118.430 119.125 119.240 181.895 184.518 184.829 185.336 184.306 185.564 186.134 192.718 194.653 228.316 241.126 241.299 242.062 235.860 241.292 243.617 272.290 279.928 347.289 348.502 349.516 351.547 353.207 354.536 356.384 357.745 358.861 202.444 208.795 209.236 209.359 205.743 208.523 210.690 225.218 229.076 209.650 209.978 210.446 210.926 211.265 211.737 212.115 212.626 213.103 2008: Jan Feb Mar Apr 211.080 211.693 213.528 214.823 212.516 212.571 213.301 213.743 208.026 208.778 209.255 211.232 212.920 213.313 214.204 214.850 244.744 244.837 245.200 245.335 239.745 240.191 240.763 241.489 250.051 250.413 250.941 251.461 205.567 208.175 212.311 216.921 119.759 119.352 117.819 118.363 195.722 194.390 195.797 194.483 283.011 277.448 281.996 276.571 360.815 361.168 361.697 362.243 230.633 229.390 233.839 233.804 213.765 213.851 214.176 214.398 Period wwoods2 on PRODPC68 with ECOIND 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 00:54 Jun 11, 2008 Jkt 042764 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 Consumer goods Consumer goods Total finished goods Foods Capital equipment Excluding foods Change from 6 months earlier, annual rate Change from year earlier, total finished goods NSA Consumer goods Total finished goods Foods Excluding foods Capital equipment Total finished goods Foods Excluding foods Capital equipment .3 1.2 0 ¥.6 .8 2.4 1.2 2.3 1.4 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Change, Dec. to Dec., NSA 1998 ............... 1999 ............... 2000 ............... 2001 ............... 2002 ............... 2003 ............... 2004 ............... 2005 ............... 2006 ............... 2007 r ............. 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 ¥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: Apr ..... May .... June ... July .... Aug ..... Sept .... Oct ...... Nov ..... Dec r .... 0.7 .6 .1 .5 ¥.8 .5 .5 2.6 ¥.5 0.5 ¥.7 ¥.2 ¥.1 .0 1.1 1.3 ¥.2 1.3 1.0 1.3 .1 1.0 ¥1.4 .5 .5 4.5 ¥1.3 0.1 .1 .2 .1 .0 .0 .1 .4 ¥.1 11.9 9.1 5.5 4.9 ¥1.0 1.0 1.0 15.8 11.0 15.7 5.7 ¥1.2 ¥3.5 ¥1.0 4.4 10.0 9.2 9.9 15.1 14.4 9.9 9.5 ¥1.6 .0 ¥1.8 24.1 15.6 1.6 .8 1.6 1.6 1.3 .5 .3 1.9 1.6 9.6 8.2 6.9 8.4 4.0 3.2 2.9 7.1 5.8 11.7 10.8 7.8 5.7 2.3 1.6 3.0 4.0 7.1 11.6 10.2 8.8 12.3 6.1 4.8 3.7 10.5 7.5 3.2 1.4 1.6 1.6 1.1 1.1 .9 1.6 1.1 3.2 3.9 3.3 4.2 2.3 4.4 6.1 7.3 6.2 2008: Jan Feb Mar Apr r 1.1 1.7 ¥.5 1.2 .0 r 1.1 .4 .5 .1 .4 13.5 3.8 r 10.7 6.6 11.8 10.3 r 9.9 2.8 18.3 1.7 r 13.1 9.0 3.0 3.5 4.3 4.3 7.0 9.6 10.8 10.0 10.9 9.7 9.9 7.2 7.8 12.4 14.4 13.6 1.6 2.7 3.0 3.6 7.4 6.4 6.9 6.5 ..... ..... ..... ..... .3 1.1 .2 .7 1.3 .2 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 0.2 .2 .2 .2 .2 .2 .2 .2 .2 .......... .......... 4.6 .......... .......... 2.7 .......... .......... 5.1 4.4 5.1 4.3 3.9 2.0 2.5 2.6 6.3 6.2 3.9 4.6 3.9 4.1 3.5 3.4 3.2 4.1 4.3 2.6 2.7 2.7 2.4 2.0 2.8 3.5 4.3 4.1 .3 .......... .0 .......... .2 4.2 .1 .......... 6.8 3.1 3.1 2.3 4.7 4.7 4.6 4.5 4.3 4.0 4.0 3.9 Change, month to month 2007: Apr ............... May ............... June .............. July .............. Aug ............... Sept .............. Oct ................ Nov ............... Dec ............... 2008: Jan Feb Mar Apr ............... ............... ............... ............... 0.3 .5 .3 .2 .0 .4 .3 .9 .4 0.3 .3 .5 .3 .4 .5 .2 .4 .1 0.3 .2 .3 .2 .1 .3 .2 .4 .3 0.4 .2 .4 .2 .2 .3 .2 .3 .3 0.3 .3 .3 .3 .2 .3 .4 .4 .4 0.2 .1 .2 .2 .2 .3 .2 .3 .3 0.2 .4 .4 ¥.1 ¥.6 .3 1.0 1.1 .3 ¥0.3 ¥.3 ¥.4 .4 ¥.5 .2 .1 .6 .1 0.6 1.4 .2 .3 ¥.6 .7 .3 3.5 1.0 0.1 ¥.2 .1 .0 .1 ¥.2 ¥.1 .0 .0 2.3 5.6 .1 .3 ¥2.6 2.3 1.0 11.8 2.8 0.4 .3 .3 .6 .5 .4 .5 .4 .3 1.3 3.1 .2 .1 ¥1.7 1.4 1.0 6.9 1.7 .4 .0 .3 .2 .7 .4 .2 .9 .2 .2 .4 .3 .3 .0 .1 .1 .3 .2 .2 .3 .3 .1 .2 .2 .0 1.3 2.0 2.2 .4 ¥.3 ¥1.3 .5 .5 ¥.7 .7 ¥.7 ¥.3 ¥.1 .0 .0 1.1 ¥2.0 1.6 ¥1.9 .5 .1 .1 .2 .7 ¥.5 1.9 .0 wwoods2 on PRODPC68 with ECOIND 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc., excluded beginning 1983. 2 Household 3 Quarterly changes are shown in the last month of the quarter. Source: Department of Labor, Bureau of Labor Statistics. 24 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00024 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In May, prices received by farmers rose 3.4 percent; prices paid by farmers rose 1.7 percent. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers wwoods2 on PRODPC68 with ECOIND 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 Production items, interest, taxes, and wage rates Production items Ratio 2 .............................. ............................... .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. 102 96 96 102 98 107 119 115 115 136 107 97 96 99 105 111 115 111 120 142 97 95 97 106 90 103 122 120 111 130 115 115 119 123 124 128 134 142 150 161 114 113 118 121 121 125 133 142 151 163 113 111 115 120 119 124 132 140 148 161 89 83 81 83 79 84 89 81 77 84 2007: May .................... June ................... July .................... Aug .................... Sept ................... Oct ..................... Nov .................... Dec .................... 136 137 139 139 140 141 141 143 140 141 141 142 142 148 148 151 132 134 137 137 138 131 134 134 161 161 162 162 163 164 166 167 162 163 164 164 164 166 168 170 160 161 162 162 163 164 167 169 84 85 86 86 86 86 85 86 2008: Jan .................... Feb .................... Mar .................... Apr r ................... May .................... 144 145 146 145 150 158 163 167 168 172 129 131 129 127 132 172 175 178 181 184 176 179 182 186 189 174 178 182 187 190 84 83 82 80 82 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 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 00:54 Jun 11, 2008 Jkt 042764 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 April, 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 ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ 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 r 7,428.0 r 16,189.0 2007: Apr ........................................................................................ May ........................................................................................ June ....................................................................................... July ........................................................................................ Aug ........................................................................................ Sept ....................................................................................... Oct ......................................................................................... Nov ........................................................................................ Dec ........................................................................................ 1,377.2 1,374.8 1,365.4 1,368.0 1,369.5 1,366.1 1,369.2 1,365.7 1,366.3 7,206.8 7,227.0 7,243.6 7,267.5 7,319.2 7,346.5 7,369.7 7,398.0 r 7,428.0 2008: Jan Feb Mar Apr 1,367.0 1,370.3 1,372.0 1,367.7 7,477.4 wwoods2 on PRODPC68 with ECOIND 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ 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. r 7,581.9 7,661.6 7,676.7 Debt of domestic nonfinancial sectors 1 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00026 Fmt 3401 M1 M2 From previous period 3 Debt r 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 r 8.8 r 8.2 ............................ ............................ r 29,984.8 ............................ ............................ r 30,670.4 ............................ ............................ r 31,249.3 1.4 .6 ¥.2 ¥.6 .4 ¥.5 ¥1.2 ¥1.3 .1 7.3 6.8 6.0 5.2 5.9 5.2 4.5 4.7 5.1 ...................... ...................... 7.1 ...................... ...................... r 9.1 ...................... ...................... r 7.5 ............................ ............................ 31,758.4 ............................ ¥.1 .1 .9 ¥.2 5.8 7.2 8.6 8.3 ...................... ...................... 6.5 ...................... r 17,251.3 r 18,101.3 r 19,228.6 r 20,627.2 r 22,327.3 r 24,299.8 r 26,547.1 r 28,876.2 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 Total At commercial banks 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 6.3 376.6 352.8 309.6 335.2 306.2 325.8 343.2 324.9 305.9 295.2 249.9 243.4 238.4 257.4 279.4 310.1 328.0 318.5 305.0 306.1 143.9 139.6 133.1 142.0 154.3 175.2 186.8 180.5 176.8 173.2 106.0 103.7 105.2 115.5 125.1 134.8 141.2 138.0 128.2 133.0 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 1,216.4 626.4 636.9 700.2 635.4 590.8 541.3 551.2 644.9 759.2 821.6 326.1 319.9 347.5 341.1 305.2 277.4 278.8 351.3 412.4 394.8 726.7 817.2 904.6 958.5 881.8 774.3 694.2 697.0 796.8 957.7 551.7 656.5 811.5 1,218.1 1,269.2 1,135.2 1,085.7 1,150.4 1,348.2 1,882.8 2007: Apr ...... May ..... June .... July ..... Aug ..... Sept ..... Oct ...... Nov r .... Dec r .... 754.4 755.4 756.0 758.0 758.1 759.2 761.5 761.1 758.7 6.6 6.6 6.5 6.5 6.4 6.4 6.4 6.3 6.3 305.8 304.1 301.5 301.0 302.0 296.4 296.9 296.9 295.2 310.4 308.7 301.5 302.5 302.9 304.1 304.4 301.4 306.1 176.8 175.8 171.2 171.5 171.1 171.0 172.3 171.6 173.2 133.6 132.9 130.3 131.1 131.8 133.0 132.2 129.8 133.0 3,801.2 3,816.7 3,829.5 3,836.4 3,862.8 3,865.7 3,870.0 3,884.0 3,887.7 2,935.1 2,938.7 2,947.6 2,965.1 2,994.7 3,008.6 3,011.0 3,027.2 3,034.1 866.0 878.0 881.9 871.2 868.1 857.1 859.0 856.8 853.6 1,188.9 1,190.2 1,190.5 1,191.5 1,193.6 1,203.5 1,209.7 1,213.8 1,216.4 758.3 758.9 760.2 765.5 767.3 774.6 802.1 819.3 821.6 430.6 431.3 430.3 426.0 426.3 428.9 407.6 394.4 394.8 839.5 845.3 858.1 871.6 893.3 911.3 920.8 934.5 957.7 1,433.9 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 ...... Feb ...... Mar r .... Apr ...... 757.7 758.6 761.7 759.7 6.2 6.2 6.2 6.2 295.1 293.6 295.2 291.7 307.9 311.9 308.9 310.1 173.2 176.8 174.6 174.4 134.7 135.1 134.3 135.7 3,901.2 3,949.0 4,007.4 4,013.3 3,039.8 3,080.8 3,123.0 3,124.9 861.4 868.3 884.4 888.4 1,223.6 1,226.0 1,217.0 1,210.9 823.7 825.4 820.1 814.5 399.9 400.7 396.9 396.4 985.5 1,036.5 1,065.3 1,084.8 1,930.8 2,071.7 2,147.9 2,189.1 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 Period Reserves of depository institutions Total 2 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Other borrowings from the Federal Reserve (NSA) Nonborrowed 3 Required Excess (NSA) Monetary base Total Primary Secondary Seasonal Primary dealer credit facility Adjustment 4 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 45,168 42,115 38,680 41,420 40,357 42,672 46,600 45,144 43,317 42,599 45,052 41,795 38,471 41,354 40,278 42,626 46,538 44,976 43,126 27,169 43,656 40,821 37,356 39,777 38,349 41,625 44,692 43,244 41,455 40,848 1,512 1,294 1,325 1,643 2,008 1,047 1,909 1,900 1,862 1,752 513,920 593,826 584,944 635,610 681,623 720,362 759,258 787,313 811,824 823,387 ................ ................ ................ ................ ................ ................ ................ ................ ................ 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: May ............ June ........... July ............ Aug ............ Sept ............ Oct ............. Nov ............. Dec ............. 43,114 43,607 41,783 44,870 42,698 42,537 42,679 42,599 43,010 43,420 41,521 43,895 41,132 42,283 42,313 27,169 41,661 41,856 40,145 40,042 40,972 41,102 40,982 40,848 1,453 1,751 1,637 4,828 1,726 1,435 1,696 1,752 818,712 820,080 821,336 824,451 821,885 824,742 825,673 823,387 ................ ................ ................ ................ ................ ................ ................ 11,613 103 187 262 975 1,567 254 366 3,818 14 43 45 701 1,345 126 315 3,787 0 0 0 19 0 13 0 1 90 145 217 255 221 115 50 30 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 2008: Jan ............. Feb ............. Mar r ........... Apr ............. May ............ 41,786 42,579 44,033 43,474 44,034 ¥3,874 ¥17,578 ¥50,490 ¥91,936 ¥111,746 40,153 40,869 41,043 41,546 41,934 1,633 1,709 2,990 1,928 2,100 821,160 822,450 827,183 824,761 826,679 44,516 60,000 75,484 100,000 127,419 1,143 157 5 19,040 1,137 155 1,617 9,624 14,076 0 0 0 0 0 6 3 6 21 47 .............. .............. 16,168 25,764 14,238 .............. .............. .............. .............. .............. 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 PRODPC68 with ECOIND Term auction credit (NSA) 35,410 28,361 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 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00027 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.027 ECOIND BANK CREDIT AT ALL COMMERCIAL BANKS Total commercial bank loans and leases fell 0.5 percent in April; commercial and industrial loans rose 0.7 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit wwoods2 on PRODPC68 with ECOIND 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2007: Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec ........... Dec r .......... Apr ........... May .......... June ......... July .......... Aug ........... Sept r ......... Oct r .......... Nov r ......... Dec r .......... 2008: Jan r .......... Feb r .......... Mar r ......... Apr ........... 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 9,217.9 8,515.3 8,573.5 8,625.1 8,703.5 8,837.4 8,952.8 9,055.6 9,186.2 9,217.9 9,280.8 9,350.1 9,500.8 9,422.4 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 2,435.3 2,265.0 2,267.9 2,292.0 2,318.1 2,347.7 2,383.9 2,408.5 2,473.5 2,435.3 2,438.3 2,468.8 2,577.1 2,530.7 795.8 810.4 790.7 852.2 1,029.7 1,114.7 1,171.1 1,161.4 1,216.6 1,131.8 1,178.4 1,162.9 1,165.1 1,171.5 1,177.8 1,174.0 1,140.2 1,132.8 1,131.8 1,108.0 1,106.8 1,128.2 1,110.1 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 1,303.5 1,086.6 1,104.9 1,126.9 1,146.6 1,170.0 1,210.0 1,268.4 1,340.7 1,303.5 1,330.3 1,362.0 1,448.9 1,420.5 3,288.0 3,474.1 3,866.9 3,932.0 4,170.6 4,412.5 4,868.5 5,461.4 6,113.6 6,782.6 6,250.2 6,305.6 6,333.1 6,385.4 6,489.7 6,568.9 6,647.1 6,712.7 6,782.6 6,842.5 6,881.3 6,923.6 6,891.8 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 1,188.5 1,430.1 1,232.4 1,249.1 1,265.6 1,284.3 1,309.6 1,354.3 1,385.9 1,403.3 1,430.1 1,448.1 1,457.1 1,479.9 1,489.8 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 3,576.2 3,406.2 3,436.4 3,453.1 3,457.1 3,493.3 3,503.5 3,533.4 3,559.7 3,576.2 3,594.5 3,621.2 3,656.5 3,651.5 Revolving home equity 103.6 101.1 129.7 155.4 213.1 280.3 398.0 443.7 467.5 482.8 461.2 462.9 464.6 465.5 469.3 472.5 475.1 478.6 482.8 486.3 491.0 498.6 506.8 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 3,093.4 2,945.1 2,973.5 2,988.4 2,991.6 3,024.0 3,030.9 3,058.3 3,081.1 3,093.4 3,108.2 3,130.2 3,157.9 3,144.7 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00028 Fmt 3401 Other 497.4 491.5 539.8 556.2 585.9 642.5 695.4 708.2 743.2 809.1 751.5 755.4 765.1 773.5 775.1 783.9 789.0 796.2 809.1 811.6 811.9 814.9 821.2 134.5 139.7 161.0 135.1 173.9 198.8 198.1 247.1 271.1 291.6 278.7 278.6 263.9 277.9 285.9 283.6 274.2 285.5 291.6 305.4 298.8 292.3 283.2 384.0 380.2 431.2 436.0 421.3 444.6 488.9 545.5 552.5 675.6 581.3 586.2 585.4 592.5 625.7 643.6 664.6 667.9 675.6 682.9 692.3 680.0 646.1 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 Internal 1 Total 1998 ................ 1999 ................ 2000 ................ 2001 r ............... 2002 r ............... 2003 r ............... 2004 r ............... 2005 r ............... 2006 r ............... 2007 r ............... 2006: I r .......... II r ........ III r ....... IV r ....... 2007: I r .......... II r ........ III r ....... IV r ....... 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 1,603.2 682.1 731.0 718.0 755.0 811.3 831.3 928.4 995.0 993.8 942.8 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 Total Securities and mortgages 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 r .............................................................................. Apr ............................................................................... May .............................................................................. June ............................................................................. July .............................................................................. Aug .............................................................................. Sept .............................................................................. Oct r .............................................................................. Nov r ............................................................................. Dec r .............................................................................. 2008: Jan r .............................................................................. Feb r .............................................................................. Mar .............................................................................. Apr p ............................................................................. wwoods2 on PRODPC68 with ECOIND 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 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Interest rates were mixed in May. [Percent per annum] Constant Period 3-month bills (new issues) 1 wwoods2 on PRODPC68 with ECOIND 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2007: May ............. June ............ July ............. Aug ............. Sept ............. Oct .............. Nov ............. Dec .............. 2008: Jan .............. Feb .............. Mar ............. Apr ............. May ............ Week ended: 2008: May 10 ........ 17 ........ 24 ........ 31 ........ June 7 ......... 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 4.77 4.63 4.84 4.34 4.01 3.97 3.49 3.08 2.86 2.21 1.38 1.32 1.71 5.14 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.35 4.69 5.00 4.82 4.34 4.06 4.01 3.35 3.13 2.51 2.19 1.80 2.23 2.69 5.26 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.63 4.75 5.10 5.00 4.67 4.52 4.53 4.15 4.10 3.74 3.74 3.51 3.68 3.88 5.58 5.87 5.94 5.49 * * * * 4.91 4.84 4.90 5.20 5.11 4.93 4.79 4.77 4.52 4.53 4.33 4.52 4.39 4.44 4.60 5.12 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.42 4.37 4.64 4.64 4.73 4.57 4.41 4.45 4.22 4.00 4.35 4.67 4.43 4.34 6.53 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.56 5.47 5.79 5.73 5.79 5.74 5.66 5.44 5.49 5.33 5.53 5.51 5.55 5.57 .............. .............. .............. .............. .............. 2.12 2.34 4.19 5.96 5.86 6.25 6.25 6.25 5.75 5.25 5.00 5.00 4.75 3.50 3.50 2.50 2.25 2.25 1.61 1.80 1.86 1.87 1.82 2.55 2.69 2.70 2.91 2.78 3.85 3.86 3.84 4.03 3.98 4.57 4.58 4.57 4.71 4.68 4.44 4.36 4.23 4.34 4.33 5.57 5.56 5.53 5.67 5.63 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 00:54 Jun 11, 2008 Jkt 042764 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 8.25 7.75 7.50 7.50 7.25 6.00 6.00 5.25 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 5.25 5.26 5.02 4.94 4.76 4.49 4.24 3.94 2.98 2.61 2.28 1.98 7.07 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.41 6.22 6.54 6.70 6.73 6.58 6.55 6.42 6.21 6.02 5.96 5.92 5.98 .............. * * * * * 5.00 5.00 5.00 5.00 5.00 1.94 1.96 1.96 2.05 1.99 .............. .............. .............. .............. .............. 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 rose in May. 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: May .............................................. June ............................................. July .............................................. Aug ............................................... Sept .............................................. Oct ............................................... Nov ............................................... Dec ............................................... 9,822.99 9,896.98 9,985.42 9,440.44 9,777.59 10,159.33 9,741.15 9,807.36 9,864.01 9,754.29 9,543.66 8,963.67 9,060.63 9,390.30 8,522.71 8,447.99 13,031.00 13,639.81 14,318.49 13,250.28 14,300.99 14,976.30 14,622.23 14,956.77 7,474.48 7,268.42 7,210.07 6,957.87 7,138.20 7,231.60 7,127.40 7,306.60 13,407.76 13,480.21 13,677.89 13,239.71 13,557.69 13,901.28 13,200.58 13,406.99 1,511.14 1,514.49 1,520.70 1,454.62 1,497.12 1,539.66 1,463.39 1,479.23 2,562.14 2,595.40 2,655.08 2,539.50 2,634.47 2,780.42 2,662.80 2,661.55 1.81 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 ............................................. 9,165.10 9,041.52 8,776.21 9,174.10 9,429.04 7,776.77 7,577.54 7,155.51 7,579.73 7,593.63 14,222.14 13,931.92 14,000.91 15,159.35 16,365.23 7,068.98 6,674.75 6,318.44 6,381.98 6,405.40 12,538.12 12,419.57 12,193.88 12,656.63 12,812.48 1,378.76 1,354.87 1,316.94 1,370.47 1,403.22 2,418.09 2,325.83 2,254.82 2,368.10 2,483.24 2.06 2.10 2.17 2.09 2.07 .................. .................. r 4.56 .................. .................. Week ended: 2008: May 10 17 24 31 June 7 9,401.01 9,484.48 9,456.99 9,362.83 9,270.47 7,756.62 7,663.60 7,423.06 7,333.64 7,195.19 16,017.40 16,342.46 16,967.06 16,485.70 16,250.30 6,389.60 6,369.63 6,419.37 6,419.12 6,401.93 12,883.48 12,917.27 12,712.66 12,606.73 12,422.28 1,400.86 1,412.84 1,400.20 1,393.71 1,381.05 2,456.54 2,508.58 2,473.17 2,499.73 2,499.93 2.07 2.05 2.08 2.08 2.10 .................. .................. .................. .................. .................. 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ......................................... ......................................... ......................................... ......................................... ......................................... 1 Average wwoods2 on PRODPC68 with ECOIND Dow Jones industrial average 4 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 00:54 Jun 11, 2008 Jkt 042764 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 seven months of fiscal 2008, there was a deficit of $152.2 billion, compared with a deficit of $80.8 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 1,504.6 1,549.7 1,585.3 1,701.9 ¥80.8 ¥152.2 1,131.1 1,161.6 1,323.8 1,429.3 ¥192.7 ¥267.8 373.5 388.2 261.5 272.6 111.9 115.6 4,990.6 5,234.1 from current issue Monthly Treasury Statement. Outlays Surplus or deficit (¥) Receipts Outlays 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Surplus or deficit (¥) Gross Federal 8,781.2 9,326.7 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 PRODPC68 with ECOIND 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 7 months: 1 Fiscal year 2007 ................ Fiscal year 2008 ................ On-budget FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In the first seven months of fiscal 2008, receipts were $45.1 billion higher than a year earlier and outlays were $116.6 billion higher. [Billions of dollars] On-budget and off-budget receipts wwoods2 on PRODPC68 with ECOIND Total Individual income taxes Corporation income taxes On-budget and off-budget outlays National defense Other Department of Defense, military Total Total International affairs Health Medicare Income Social security security Net interest Other 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 7 months: 1 Fiscal year 2007 ...................... Fiscal year 2008 ...................... 1,504.6 1,549.7 705.4 747.6 200.7 171.1 508.1 528.4 90.4 1,585.3 102.7 1,701.9 323.7 358.0 306.9 341.1 15.7 16.2 154.3 163.1 215.9 220.4 235.5 257.0 335.2 353.4 133.8 145.3 171.2 188.6 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 00:54 Jun 11, 2008 Jkt 042764 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 current estimates, Federal current receipts fell $16.7 billion (annual rate); while Federal current expenditures rose $76.7 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 r ............... 2004: III ............ IV ............ 2005: I ............... II ............. III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I ............... II ............. III ............ IV r ........... 2008: I r .............. 1 Includes wwoods2 on PRODPC68 with ECOIND 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 2,698.0 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 1,641.2 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 1,186.6 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 98.3 101.4 102.2 104.5 Taxes on corporate income 204.2 213.0 219.4 164.7 150.5 197.8 250.3 319.8 373.1 380.8 246.4 275.3 316.4 320.9 303.5 338.3 356.4 378.6 387.1 370.1 370.3 401.3 382.5 369.1 336.4 613.8 651.6 691.7 717.5 734.3 758.9 805.2 849.3 901.6 953.9 812.1 820.9 836.0 842.6 856.1 862.6 892.8 894.1 900.9 918.8 944.0 946.3 957.3 968.1 989.7 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 25.6 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 3,009.9 Consumption expenditures 454.6 475.1 499.3 531.9 591.5 662.7 723.7 768.5 812.8 856.0 734.6 729.6 759.1 761.7 784.1 769.0 804.8 806.6 813.3 826.4 829.8 849.8 867.7 876.9 900.8 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 1,746.5 00:54 Jun 11, 2008 Jkt 042764 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 ¥311.9 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2007: IV. 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 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 r 103.5 r 102.5 2007: Mar r ................... Apr r ................... May r .................. June r ................. July r .................. Aug r ................... Sept r .................. Oct r .................... Nov r ................... Dec r ................... 110.4 111.0 111.0 111.4 112.0 112.0 112.3 111.8 112.3 112.4 104.4 104.3 104.1 104.2 104.1 104.0 103.4 103.8 103.2 100.3 Germany France Consumer prices (1982–84=100; NSA) United Kingdom Italy United States 1 Canada Japan Germany France Italy United Kingdom 101.2 100.0 103.0 r 108.0 r 109.4 r 114.3 r 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 r 159.7 222.5 226.2 231.9 238.3 244.3 250.9 256.4 261.3 266.9 271.8 191.4 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 242.7 116.0 115.5 116.8 117.0 117.1 120.0 118.1 120.4 118.6 119.4 104.4 103.7 104.5 103.6 105.4 105.6 104.3 106.4 104.6 105.4 118.8 117.4 119.5 119.7 120.0 122.2 122.3 122.0 121.7 123.4 101.6 101.0 101.5 101.3 101.5 102.7 101.1 100.3 99.2 99.3 98.6 98.8 99.8 99.6 99.2 99.2 98.8 99.6 99.2 99.2 205.352 206.686 207.949 208.352 208.299 207.917 208.490 208.936 210.177 210.036 192.0 192.9 193.7 193.4 193.5 193.0 193.4 192.9 193.4 193.5 118.1 118.4 118.8 118.5 118.4 119.0 119.0 119.4 119.1 119.4 177.4 178.3 178.7 178.9 178.5 179.2 179.4 179.8 180.8 181.5 158.5 159.3 159.3 159.3 160.2 160.0 160.2 160.7 161.4 162.4 269.8 270.2 271.0 271.6 272.2 272.7 272.7 273.5 274.5 275.3 240.2 241.3 242.3 243.6 242.2 243.6 244.4 245.4 246.4 247.8 2008: Jan r ................... 112.6 101.0 118.7 105.8 124.5 100.5 99.1 211.080 193.2 119.1 181.3 Feb r ................... 111.8 100.3 120.6 106.3 124.5 100.3 99.3 211.693 193.9 118.9 181.7 r Mar ................... 112.0 98.7 116.5 105.4 124.4 100.1 98.9 213.528 194.6 119.5 183.0 Apr p ................... 111.2 .............. 116.2 .............. 123.5 .............. .............. 214.823 196.1 119.4 183.7 May p .................. .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 161.9 162.7 163.4 163.1 164.0 276.6 246.5 277.2 248.4 278.6 249.2 r279.2 251.4 280.7 .............. r 102.7 r 108.5 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 wwoods2 on PRODPC68 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 BOP basis ............. 670.4 ............. 684.0 ............. 772.0 ............. 718.7 ............. 682.4 ............. 713.4 ............. 807.5 ............. 894.6 ............. 1,023.1 ............. 1,149.2 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 1,163.2 46.4 46.0 47.9 49.4 49.6 55.0 56.6 59.0 66.0 84.2 148.3 147.5 172.6 160.1 156.8 173.0 203.9 233.0 276.0 315.5 299.4 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 89.2 103.2 362.3 98.6 116.1 413.9 107.2 130.0 445.9 120.9 146.4 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 1,964.6 911.9 1,024.6 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 1,953.3 41.2 43.6 46.0 46.6 49.7 55.8 62.1 68.1 74.9 81.7 200.1 221.4 299.0 273.9 267.7 313.8 412.8 523.8 602.0 630.7 269.5 295.7 347.0 298.0 283.3 295.9 343.6 379.3 418.3 444.7 148.7 179.0 195.9 189.8 203.7 210.1 228.2 239.5 256.7 258.9 217.0 241.9 281.8 284.3 307.8 333.9 372.9 407.2 442.6 474.9 262.8 281.9 298.6 286.2 292.3 304.3 349.7 388.4 422.6 479.2 180.7 199.2 223.7 221.8 231.1 250.4 292.2 315.7 342.8 372.3 ¥229.8 ¥328.8 ¥436.1 ¥411.9 ¥468.3 ¥532.4 ¥650.9 ¥767.5 ¥817.3 ¥790.1 ¥248.2 ¥347.8 ¥454.7 ¥429.5 ¥485.0 ¥550.9 ¥669.6 ¥787.1 ¥838.3 ¥815.4 82.1 82.7 74.9 64.4 61.2 54.0 57.5 72.8 79.7 106.9 ¥166.1 ¥265.1 ¥379.8 ¥365.1 ¥423.7 ¥496.9 ¥612.1 ¥714.4 ¥758.5 ¥708.5 2007: Mar ... Apr .... May ... June .. July ... Aug ... Sept ... Oct .... Nov .... Dec .... 90.8 90.7 93.2 94.7 98.3 98.7 100.1 100.6 100.8 102.9 92.2 92.0 94.4 95.8 99.5 99.8 101.0 101.6 102.2 104.0 6.0 6.5 6.6 6.6 6.9 7.4 8.3 7.7 8.1 8.0 24.7 25.0 25.7 26.9 26.4 27.2 27.9 27.7 28.0 28.8 35.1 34.5 36.4 36.5 38.4 38.2 37.8 39.1 38.2 40.1 9.9 9.8 9.8 9.9 11.3 10.4 10.5 10.5 10.9 10.1 11.8 12.0 12.0 11.8 12.4 12.5 12.8 12.4 12.3 12.9 161.8 158.3 161.9 163.4 166.4 165.1 166.2 167.8 173.6 170.9 160.3 157.1 160.7 162.7 165.3 164.0 165.1 166.9 173.0 170.1 6.8 6.6 6.8 6.7 6.9 7.0 7.0 6.9 7.0 6.8 49.7 50.2 52.5 52.8 53.8 52.9 52.7 54.5 59.2 59.8 36.2 35.7 36.6 37.2 37.1 37.4 38.2 37.7 37.9 37.7 22.1 21.1 20.5 21.5 22.6 22.1 22.3 22.5 22.5 20.4 40.4 38.8 39.3 39.3 39.5 39.3 39.5 40.0 40.7 40.2 37.8 38.4 39.1 39.3 40.2 41.2 41.2 42.2 42.9 42.9 29.8 30.0 30.6 30.6 31.0 31.6 32.0 32.5 32.5 32.8 ¥68.2 ¥65.1 ¥66.3 ¥66.9 ¥65.8 ¥64.3 ¥64.1 ¥65.2 ¥70.8 ¥66.1 ¥71.0 ¥67.6 ¥68.8 ¥68.7 ¥68.1 ¥66.4 ¥66.1 ¥67.2 ¥72.8 ¥68.0 8.0 8.4 8.5 8.7 9.2 9.6 9.2 9.6 10.4 10.1 ¥63.0 ¥59.2 ¥60.3 ¥60.0 ¥58.9 ¥56.7 ¥56.9 ¥57.6 ¥62.4 ¥57.9 2008: Jan ... Feb r .. Mar p 104.7 107.3 104.7 105.5 108.2 105.2 8.6 9.2 9.5 29.7 31.6 31.5 39.6 38.9 37.7 10.1 10.5 9.5 13.4 13.3 12.5 174.2 179.4 173.3 173.4 177.7 171.8 7.2 7.2 7.1 64.0 63.6 61.6 37.7 38.5 37.6 20.6 22.4 20.3 38.8 40.7 39.5 43.6 43.8 43.8 33.2 33.4 33.4 ¥67.8 ¥69.5 ¥66.5 ¥69.4 ¥72.1 ¥68.6 10.5 10.4 10.4 ¥59.0 ¥61.7 ¥58.2 1 Total includes ‘‘other’’ exports or imports, not shown separately. NOTE.—BOP refers to balance of payments on international transactions basis. BOP data shown here are consistent with figures shown on pp. 36 and 37. Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 35 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the fourth quarter of 2007, the goods deficit rose to $208.1 billion, from $200.5 billion in the third quarter. The current account deficit fell to $172.9 billion in the fourth quarter, from $177.4 billion in the third quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period wwoods2 on PRODPC68 with ECOIND Exports Imports Services Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Other services, net Balance on goods and services Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account 1998 .............. 1999 .............. 2000 .............. 2001 .............. 2002 .............. 2003 .............. 2004 .............. 2005 .............. 2006 .............. 2007 p ............ 670,416 683,965 771,994 718,712 682,422 713,415 807,516 894,631 1,023,109 1,149,208 ¥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 ¥1,964,577 ¥248,221 ¥347,819 ¥454,690 ¥429,519 ¥484,955 ¥550,892 ¥669,578 ¥787,149 ¥838,271 ¥815,370 5,220 2,593 317 ¥2,296 ¥7,158 ¥11,981 ¥13,518 ¥10,536 ¥13,942 ¥17,105 10,210 7,085 2,486 ¥3,254 ¥4,245 ¥11,475 ¥14,275 ¥12,945 ¥10,636 2,186 66,651 73,051 72,052 69,943 72,633 77,433 85,279 96,259 104,327 121,773 ¥166,140 ¥265,090 ¥379,835 ¥365,126 ¥423,725 ¥496,915 ¥612,092 ¥714,371 ¥758,522 ¥708,515 261,819 293,925 350,918 290,797 281,215 320,568 401,942 505,488 650,462 782,229 ¥257,554 ¥280,037 ¥329,864 ¥259,075 ¥253,544 ¥275,147 ¥345,585 ¥457,430 ¥613,823 ¥707,913 4,265 13,888 21,054 31,722 27,671 45,421 56,357 48,058 36,640 74,316 ¥53,187 ¥50,428 ¥58,645 ¥51,295 ¥63,587 ¥70,607 ¥84,414 ¥88,535 ¥89,595 ¥104,438 ¥215,062 ¥301,630 ¥417,426 ¥384,699 ¥459,641 ¥522,101 ¥640,148 ¥754,848 ¥811,477 ¥738,638 2005: I ......... II ....... III ...... IV ...... 214,391 223,068 224,320 232,852 ¥398,781 ¥411,592 ¥423,638 ¥447,769 ¥184,390 ¥188,524 ¥199,318 ¥214,917 ¥2,724 ¥2,699 ¥2,211 ¥2,902 ¥4,140 ¥2,769 ¥2,858 ¥3,179 24,612 23,321 23,436 24,889 ¥166,641 ¥170,670 ¥180,952 ¥196,109 115,351 121,333 129,873 138,931 ¥102,877 ¥109,529 ¥113,308 ¥131,716 12,474 11,804 16,565 7,215 ¥28,225 ¥24,372 ¥9,019 ¥26,915 ¥182,392 ¥183,238 ¥173,406 ¥215,809 2006: I ......... II ....... III ...... IV ...... 243,880 252,458 260,285 266,486 ¥451,637 ¥463,734 ¥479,184 ¥466,825 ¥207,757 ¥211,276 ¥218,899 ¥200,339 ¥3,195 ¥3,549 ¥3,888 ¥3,310 ¥3,075 ¥3,111 ¥2,456 ¥1,995 24,315 25,359 25,936 28,718 ¥189,712 ¥192,577 ¥199,307 ¥176,926 148,391 162,020 167,026 173,025 ¥137,929 ¥151,352 ¥161,177 ¥163,365 10,462 10,668 5,850 9,661 ¥21,360 ¥23,686 ¥23,877 ¥20,673 ¥200,611 ¥205,595 ¥217,334 ¥187,938 2007: I ........ II ....... III ..... IV p .... 269,289 278,511 297,118 304,290 ¥471,001 ¥483,570 ¥497,665 ¥512,341 ¥201,712 ¥205,059 ¥200,547 ¥208,051 ¥3,665 ¥4,141 ¥4,299 ¥4,999 ¥1,960 ¥309 1,329 3,125 28,717 30,038 30,948 32,072 ¥178,620 ¥179,472 ¥172,570 ¥177,853 176,151 195,394 206,428 204,256 ¥168,723 ¥182,811 ¥185,091 ¥171,287 7,428 12,583 21,337 32,970 ¥27,009 ¥23,169 ¥26,211 ¥28,052 ¥198,201 ¥190,058 ¥177,444 ¥172,936 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). 3 Includes transfers of goods and services under U.S. military grant programs. See p. 37 for continuation of table. 36 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 $43.0 billion in the fourth quarter of 2007, following an increase of $102.5 billion in the third quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, increased $94.9 billion in the fourth quarter, following an increase of $68.4 billion in the third quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account Period wwoods2 on PRODPC68 with ECOIND Total 1998 .......... 1999 .......... 2000 .......... 2001 .......... 2002 .......... 2003 .......... 2004 .......... 2005 .......... 2006 .......... 2007 p ........ 2005: I ..... II .... III .. IV ... 2006: I ..... II .... III .. IV ... 2007: I .... II ... III IV 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 ¥905,024 ¥4,054 ¥426,875 ¥3,913 ¥1,055,176 ¥2,317 ¥1,206,332 ¥2,598 ¥86,619 ¥512 ¥213,305 ¥473 ¥141,628 ¥472 14,678 ¥1,724 ¥344,032 ¥1,008 ¥212,218 ¥545 ¥209,898 ¥637 ¥289,028 ¥559 ¥449,933 ¥598 ¥465,907 ¥609 ¥174,027 ¥552 ¥116,464 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 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 ¥909,539 5,539 ¥446,510 5,346 ¥1,062,896 ¥22,931 ¥1,183,278 2,591 ¥94,541 989 ¥213,497 1,501 ¥147,894 459 9,423 1,049 ¥345,594 1,765 ¥213,423 1,570 ¥212,474 962 ¥291,405 445 ¥450,306 ¥369 ¥465,565 623 ¥174,596 ¥23,630 ¥92,812 Total 423,569 740,210 1,046,896 782,859 797,813 864,352 1,461,766 1,204,231 1,859,597 1,863,697 232,614 310,822 383,808 276,987 538,140 355,442 449,987 516,029 617,724 622,851 276,555 346,567 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 28,059 115,945 278,069 397,755 259,268 440,264 412,698 25,052 81,292 54,736 98,188 125,257 120,861 108,799 85,347 152,193 70,464 38,857 151,184 Other foreign assets 443,472 696,667 1,004,138 754,800 681,868 586,283 1,064,011 944,963 1,419,333 1,450,999 207,562 229,530 329,072 178,799 412,883 234,581 341,188 430,682 465,531 552,387 237,698 195,383 Financial derivatives, net Total (sum of the items with sign reversed) .................. .................. .................. .................. .................. .................. .................. .................. 28,762 .................. .................. .................. .................. .................. 1,633 14,001 14,911 ¥1,783 14,800 ¥1,007 8,552 .................. 146,088 70,421 ¥67,937 ¥14,274 ¥42,056 ¥13,348 85,775 ¥18,454 ¥17,794 83,590 38,995 86,234 ¥68,302 ¥75,384 6,593 49,378 ¥37,121 ¥36,643 16,170 34,719 66,972 ¥56,615 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 12,335 ¥3,620 ¥18,362 9,644 9,958 ¥252 ¥15,973 6,267 11,796 784 ¥17,759 5,180 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 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Aug 31 2005 00:54 Jun 11, 2008 Jkt 042764 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 PRODPC68 with ECOIND General Notes Detail in these tables may not add to totals because of rounding. Unless otherwise noted, all dollar figures are in current dollars. Symbols used: p Preliminary. r Revised. c Corrected. … Not available (also, not applicable). NSA not seasonally adjusted. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Price $5.00 (single copy) ($7.00 foreign). Subscription price: $58.00 per year; $81.20 for foreign mailing. 38 VerDate Aug 31 2005 U.S. GOVERNMENT PRINTING OFFICE : 2008 42–764 00:54 Jun 11, 2008 Jkt 042764 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND
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