Gross Private Domestic Investment

Name: Gross Private Domestic Investment
Creator: FRASER
Keywords: Economic Data, Economic indicators, Economic conditions, United States

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The following is plain-text output generated by Optical Character Recognition. 98th Congress 1st Session Economic Indicators OCTOBER 1983 Prepared for the Joint Economic Committee by the Council of Economic Advisers FEDERAL RESERVE BANK OF CHICAGO UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON JOINT ECONOMIC COMMITTEE Created pursuant to Sec 5 a of Public Law 304 79th Cong ROGER W JEPSEN Iowa Chairman LEE H HAMILTON Indiana Vice Chairman SENATE WILLIAM V ROTH JR Delaware JAMES ABDNOR South Dakota STEVEN D SYMMS Idaho MACK MATTINGLY Georgia ALFONSE M D AMATO New York LLOYD BENTSEN Texas WILLIAM PROXMIRE Wisconsin EDWARD M KENNEDY Massachusetts PAUL S SARBANES Maryland HOUSE OF REPRESENTATIVES GILLIS W LONG Louisiana PARREN J MITCHELL Maryland AUGUSTUS F HAWKINS California DAVID R OBEY Wisconsin JAMES H SCHEUER New York CHALMERS P WYLIE Ohio MARJORIE S HOLT Maryland DAN LUNGREN California OLYMPIA J SNOWE Maine BRUCE R BARTLETT Executive Director COUNCIL OF ECONOMIC ADVISERS MARTIN FELDSTEIN Chairman WILLIAM A NISKANEN Member WILLIAM POOLE Member PUBLIC LAW 120 81ST CONGRESS CHAPTER 237 IST SESSION JOINT RESOLUTION SJ 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 Charts drawn by Art Production Branch Office of the Secretary Department of Commerce Economic Indicators published monthly is available at 4 25 a single copy 5 35 foreign or by subscription at 25 00 per year 31 25 for foreign mailing from SUPERINTENDENT OF DOCUMENTS GOVERNMENT PRINTING OFFICE WASHINGTON B C TOTAL OUTPUT INCOME AND SPENDING GROSS NATIONAL PRODUCT According to preliminary estimates for the third quarter gross national product rose 91 3 billion or 11 6 percent both at annual rates Real output GNP adjusted for price changes rose 7 9 percent annual rate and the implicit price deflator rose at a 3 4 percent annual rate BILLIONS OF DOLLARS 3 400 RATIO SCALE BILLIONS OF DOLLARS RATIO SCALE 3 400 SEASONALLY ADJUSTED ANNUAL RATES GNP IN CURRENT DOLLARS GNP IN 1972 DOLLARS I SOURCE DEPARTMENT OF COMMERCE I I 1983 COUNCIL OF ECONOMIC ADVISERS Billions of current dollars quarterly data at seasonally adjusted annual rates Period Q HI IV 1982 I n m 1983 Gross national product IV I n n p Personal consumption expenditures Gross private domestic investment Source Department of Commerce Bureau of Economic Analysis Exports arid imports of goods and services Govenunent purchjises of goc ds and services T inal Federal Net exports Exports Imports Total Tntal National defense Nondefense State and local GROSS NATIONAL PRODUCT IN 1972 DOLLARS Billions of 1972 dollars quarterly data at seasonally adjusted annual rates Period Gross national product Personal consumption expenditures Residential fixed ffl IV ffl IV 1983 I n ffl Final Federal business inventories I Govermment purehases of gOO s and services Change dential fixed n Exi orts of go ods a nd services G ross private dome stic invest nent Net exports Imports Exports Total Total National defense Nondefense State and local Source Department of Commerce Bureau of Economic Analysis IMPLICIT PRICE DEFLATORS FOR GROSS NATIONAL PRODUCT quarterly data are seasonally adjusted Personal consumption expenditures Period Gross national product Total Durable goods ffl IV I n ffl IV 1983 I n mP Nondurable goods Gross private domestic investment Services Residential fixed Source Department of Commerce Bureau of Economic Analysis Gove rnment pure bases of goo ds and sernces Federal Nonresidential fixed Exports an I imports of goods am i services Exports Imports Total National defense Nondefense State and local CHANGES IN GNP AND GNP PRICE MEASURES Percent change from previous period quarterly data at seasonally adjusted annual rates Personal consumption eiipenditures Grc ss national prc duct Period Constant 1972 dollars Current dollars Implicit price deflator Chain price index M IV 1982 I n ffl IV 1983 I n IIP Fixedweighted price index 1972 weights Implicit price deflator Constant 1972 dollars Current dollars NOTE Annual changes are from previous year and quarterly changes are from previous quarter Fixedweighted price index 1972 weights Chain price index Source Department of Commerce Bureau of Economic Analysis NONFINANCIAL CORPORATE BUSINESS OUTPUT COSTS AND PROFITS Quarterly data at seasonally adjusted annual rates Curirent dollar GO st and profit per unit of output dolla rs 1 Gross 3 omestic product of ilonfinancial corporate business billions o f dollars Period Current dollars dollars Total cost and profit 2 Capital consumption allowances with capital consumption adjustment Indirect business taxes 3 Compensation of employ n m n m IV 1982 I IV I n Output is measured by gross domestic product of nonfinancial corporate business in 1972 dol lars 2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two places to the left Net interest Total I Corporate profits with inventory valuation iind capital cc nsumption adjustments Profits tax liability Profits after tax 4 CompenOutput per per hour sation of hour of all all employees 1972 employees dollars r r Indirect business tax and nontax liability plus business transfer payments less subsidies With inventory valuation and capital consumption adjustments Sources Department of Commerce Bureau of Economic Analysis and Department of Labor Bureau of Labor Statistics NATIONAL INCOME Billions of dollars quarterly data at seasonally adjusted annual rates National income Period Compensation of employees1 with Proprietors inventory vaJuation and capital coiisumption adjust ments Farm ffl IV 1983 I P UL n I adjustment Inventory valuation adjustment Profits Total Net interest Capital consump Total ffl IV Profits with inventory valuation adjustme nt and withou t capital consiunption adjust nent n Nonfarm Corporate p rofits with mv ntory valuation and capital jonsumption adjustments Rental income of persons with capital consumption adjustment Includes employer contributions for social insurance See also p Source Department of Commerce Bureau of Economic Analysis PERSONAL CONSUMPTION EXPENDITURES Billions of dollars except as noted quarterly data at seasonally adjusted annual rates Motor vehicles and parts Furniture and household equipment m IV I Period n m IV 1983 I n m Total durable goods Source Department of Commerce Bureau of Economic Analysis Retail sal es of new passeng er cars millions of units Noiidurable go ods Durable5 goods Total personal consumption expenditures Total nondurable goods Services Clothing and shoes Gasoline and oil Other Food Other Domestics Imports SOURCES OF PERSONAL INCOME Personal income increased 25 2 billion annual rate in September following a rise of 8 3 billion in August in August and by three telephone strike special payments to Postal Service employees and hurricane damage Without special factors personal income would have increased by about 23 billion in September and 16 billion in August BILLIONS OF DOLLARS RATiO SCALE BILLIONS OF DOLLARS RATIO SCALE WAGE AND SALARY DISBURSEMENTS OTHER INCOME TRANSFER PAYMENTS SEASONALLY ADJUSTED ANNUAL RATES SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Billions of dollars monthly data at seasonally adjusted annual rates Proprietors income 3 Period Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June July r Aug r Sept p Total personal income disbursements income Farm The total of wage and salary disbursements and other labor income differs from compensation of employees see p 4 to that it excludes employer contributions for social insurance and the excess of wage accruals over wage disbursements Consists of employer contributions to private pension health and welfare funds workmen s compensation directors fees and a few other minor items 3 With inventory valuation and capital consumption adjustments Nonfarm Rental income of persons Personal dividend income Personal interest income Transfer payments Less Personal contributions for social insurance Nonfarm personal income h With capital consumption adjustment Consists mainly of social insurance benefits direct relief and veterans payments Personal income exclusive of farm proprietors income farm wages farm other labor income and agricultural net interest 5 6 Source Department of Commerce Bureau of Economic Analysis DISPOSITION OF PERSONAL INCOME Real per capita disposable income rose again in the third quarter BILLIONS OF DOLLARS RATIO SCALE 2 600 FT BILLIONS OF DOLLARS RATIO SCALE DOLLARS RATIO SCALE SEASONALLY ADJUSTED ANNUAL RATES SOURCE DEPARTMENT OF COMMERCE Period Personal income Less Personal tax and nontax payments COUNCIL OF ECONOMIC ADVISERS Equals Disposable personal income Less Personal outlays l Equals Personal saving Per c apita disposable personal incc me Current dollars 1972 dollars Current dollars 1972 dollars i Percent change in real per capita disposable Saving as percent of disposable personal Population thousands 2 income Per cent Do lars B dlions of doll ars Per capitaL personal consurnption expen itures Seas onally adju sted annual rates 1981 DI IV 1982 I n m IV 1983 I np m Includes personal consumption expenditures interest paid by consumers to business and personal transfer payments to foreigners net 2 Includes Armed Forces abroad Annual data are averages of quarterly data which are averages for the period Source Department of Commerce Bureau of Economic Analysis and Bureau of the Census FARM INCOME In the third quarter according to preliminary estimates gross farm income fell 0 9 billion annual rate and net farm income fell 1 1 billion BILLIONS OF DOLLARS RATIO SCALE 200 BILLIONS OF DOLLARS RATIO SCALE NET FARM INCOME N I I I J 20 J L 1980 J L J 1982 SEASONALLY ADJUSTED ANNUAL RATES SOURCE DEPARTMENT OF AGRICULTURE L J COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates In come Crross Period Total I n m IV 1982 I n m IV 1983 I r r np m Livestock and products Crops Value of inventory changes 2 Production expenses Current dollars 1967 dollars Cash marketing receipts and inventory changes plus Government payments other farm cash income and nonmoney income furnished by farms 2 Physical changes in end of year inventor of crop and livestock commodities valued at average prices during the year Net fanri income farm ineom 3 Cas b marketing rece pts Total of farm ope rators from farming Income in current dollars divided by the consumer price index Department of Labor Source Department of Agriculture except as noted CORPORATE PROFITS In the second quarter of 1983 corporate profits before tax rose 33 6 billion annual rate from their first quarter level and after tax profits rose 19 0 billion BILLIONS OF DOLLARS 320 BILLIONS OF DOLLARS SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Prc fits before U ix with inve ntory valuaticjn adjustmen t 1 Profits after taX Doinestic industiies Total 2 Total HI IV 1982 I n ra IV 1983 I np m 1 2 Profits before tax Nonfinancial Period Financial Total See p 4 for profits with inventory valuation and capital consumption adjustments Includes rest of the world not shown separately Manufacturing Tax liability Total Dividends sale and retap trade Includes industries not shown separately Source Department of Commerce Bureau of Economic Analysis Undistributed profits Inventory valuation adjustment GROSS PRIVATE DOMESTIC INVESTMENT According to preliminary estimates for the third quarter business fixed investment rose 12 1 billion annual rate and residential investment outlays rose 12 3 billion There was an 11 8 billion increase in inventories following a decrease of 14 5 billion in the second quarter BILLIONS OF DOLLARS BILLIONS OF DOLLARS SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Change iii business uiven ones Residential fis ed investment Nonresic ential fixed inivestment M private domestic investment Period Structures Producers durable equipment HI IV I n m IV 1983 I n THP Total Source Department of Commerce Bureau of Economic Analysis Total Nonfarm structures Farm structures Producers durable equipment Total Nonfarm EXPENDITURES FOR NEW PLANT AND EQUIPMENT NONFARM BUSINESS According to the Commerce equipment for the year 1983 Department July August survey nonfarm business spending for new plant and is expected to be 3 1 percent below the 1982 level Spending in 1982 was 1 6 percent below the 1981 level BILLIONS OF DOLLARS RATIO SCALE 500 BILLIONS OF DOLLARS RATIO SCALE J SEE FOOTNOTE 4 BELOW COUNCIL OF ECONOMIC ADVISERS SOURCE DEPARTMENT OF COMMERCE Billions of dollars quarterly data at seasonally adjusted annual rates Plan t and equip nent Period Total Plant Nonmanuiacturing Id anufaeturin g Equipment Total Durable goods Nondurable goods Total Mining Transportation Public utilities Trade and services l Communication and other Starts of plant and equipment manufacturing I n m IV 1983 I n 4 m4 IV Wholesale and retail trade finance insurance and real estate and personal business and professional services 2 Other consists of construction social services and membership organizations and forestry fisheries and agricultural services 10 Starts are estimated by adding changes in carryover to expenditures during given period 4 Planned capital expenditures as reported by business in late July and August 1983 corrected for biases Source Department of Commerce Bureau of Economic Analysis EMPLOYMENT UNEMPLOYMENT AND WAGES STATUS OF THE LABOR FORCE Seasonally adjusted civilian employment rose 382 000 in September and unemployment fell MILLIONS OF PERSONS MILLIONS OF PERSONS 16 Y E A R S OF AGE AND O V E R SOURCE DEPARTMENT OF LABOR COUNCIL OF ECONOMIC ADVISERS Thousands of persons 16 years of age and over except as noted Nonins itu tionali Period including resident Armed Forces Resident Armed Forces Total labor force resident Armed Forces including resident Armed Forces Nonagricultural Jan Feb Mar Apr May June July Aug Sept Total Agricultural Part time Total for Total economic reasons l weeks and over Total 2 Civil3 ian SeasonallyY adjusted Persons at work Economic reasons include slack work material shortages inability to find fulltime work etc 2 Total labor force as percent of noninstitutional population both including resident Armed Forces 3 Civilian labor force as percent of civilian noninstitutional population Labor force particii ation rate pe rcent 15 labor force Unadju sted 1982 Sept Oct Nov Dec Unempl jyment Civilian ernployment Total employ 4 Data beginning 1978 not strictly comparable with earlier data because of revisions in the household survey which added about 250 000 to labor force and to employment Source Department of Labor Bureau of Labor Statistics 11 SELECTED UNEMPLOYMENT RATES The seasonally adjusted overall unemployment rate which includes resident Armed Forces in the labor force fell to 9 1 percent in September from 9 4 percent in August The unemployment rate for all civilian workers fell to 9 3 percent in September from 9 5 percent in August PERCENT SEASONALLY ADJUSTED PERCENT SEASONALLY ADJUSTED UNEMPLOYMENT AS PERCENT OF CIVILIAN LABOR FORCE IN GROUP SPECIFIED SOURCE DEPARTMENT OF LABOR 1983 COUNCIL OF ECONOMIC ADVISERS Monthly data seasonally adjusted Unemployment rate percen t of civilia n labor force in group Period Unemployment rate all workers 1 By race B y sex and a ge Black aiid other civilian workers Men 20 years and over Women 20 years and over Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Both sexes 16 19 years White Black Total Experienced wage and salary workers Married men spouse present Women who maintain families Fulltime workers Parttime workers Labor force time lost percent Unemployed as percent of total labor force including resident Armed Forces Aggregate hours lost by the unemployed and persons on part time for economic reas cent of potentially available labor force hours 12 By s elected grouj S 9 4 Source Department of Labor Bureau of Labor Statistics SELECTED MEASURES OF UNEMPLOYMENT AND UNEMPLOYMENT INSURANCE PROGRAMS In September the percentages of unemployed persons who had been out of work for less than 5 weeks and for more than 27 weeks rose while the percentages out of work for 5 14 weeks and for 15 26 weeks declined PERCENT DISTRIBUTION PERCENT DISTRIBUTION 70 DURATION OF UNEMPLOYMENT REASON FOR UNEMPLOYMENT 60 JOB LOSERS 50 If A REENTRANTS V 20 NEW ENTRANTS JOB LEAVERS i ii SEASONALLY ADJUSTED SOURCE DEPARTMENT OF LABOR COUNCIL OF ECONOMIC ADVISERS Monthly data seasonally adjusted except as noted Dur ation of tmemployiment Period Unemployment thousands P sreent dig tribution i Be ison for imemployment percent distributio n 1 Stat e progra ms Numbe r of Less than 5 weeks 5 14 weeks 15 26 weeks 27 weeks and over Average mean Medi Job losers Job leavers Reentrants New entrants Insured unemployment Initial claims Insured unemployment all regular programs unadjusted 2 p eia ployment benefit claims unadjusted 3 W eekly avc3rage thousa nds Sept Get Nov Dee Jan Feb Mar Apr May June July Aug Sept r C Detail may not add to 100 percent because of rounding 2 Includes State 50 States District of Columbia Puerto Rico and Virgin Islands ex servicemen UCX Federal UCFE and railroad RR programs Also includes Federal and State extended benefit programs Does not include Federal supplemental compensation program 3 Federal supplemental compensation program Source Department of Labor Bureau of Labor Statistics and Employment and Training Administration 13 NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey rose 733 000 in September largely reflecting the return to work of persons on strike in August MILLIONS OF PERSONS 90 MILLIONS OF PERSONS ENLARGED SCALE 22 WHOLESALE AND RETAIL TRADE i rM ALL N ONAGRICUL1 URAL ESTABLISHAAEN1 S SERVICES GOVERNMENT SERVICE Pf ODUCING INDU STRIES 60 MANUFACTURING CONSTRUCTION GOODS PRODUCING IN DUSTRIES 30 HIIII I I I I M UllI M I I lll I I ff l 1 1 1 i V I i i i i Ii i l ii l l i 1 i 1 ii i il l l l l i Ii l i ii I 1 I 1 1 I 1 I 1 1 IK M 1 I I 1 I I II N i i i ii i t iii i i l i 11 111i 11 11 i SEASONALLY ADJUSTED SOURCE DEPARTMENT OF LABOR COUNCIL OF ECONOMIC ADVISERS Thousands of wage and salary workers 1 seasonally adjusted Serviee producing indiistries Goods woducing inc ustries Period Total nonagricultural employment Id anufacturing Total 2 Construction Total Sept Oct Nov Dec Jan Feb Mar Apr May June July r Aug r Septp Durable goods Nondurable goods Finance insurance and real estate Government Services Federal State and local Wholesale and retail trade Includes all full and part time wage and salary workers in nonagricultural establishments who worked during or received pay for any part of the pay period which includes the 12th of the month Excludes proprietors self employed persons domestic servants and personnel of the Armed Forces Total derived from this table not comparable with estimates of nonagricultural employment of the civilian labor force shown on p 11 which include proprietors self employed persons and domestic servants which count persons as employed when they are not at work because of industrial dis Total Transportation and public utilities 4 467 putes bad weather etc even if they are not paid for the time off and which are based on a sample of the working age population whereas the estimates in this table are based on reports from employing establishments Includes mining not shown separately Source Department of Labor Bureau of Labor Statistics AVERAGE WEEKLY HOURS AND HOURLY EARNINGS PRIVATE NONAGRICULTURAL INDUSTRIES For production or nonsupervisory workers monthly data seasonally adjusted except as noted iAverage weekly Average gi oss hourly earn ings hours Period Manufa cturing Total private nonagrieultural 1 Total Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug r Sept Overtime Total private nonagrieultural l Manufacturing r Adjuste d hourly earnin gs index total private nonagncultural 2 Percent chang e from a year earlie r 4 5 Ind ex Current dollars Current dollars 1977 dollars r dollars AVERAGE WEEKLY EARNINGS PRIVATE NONAGRICULTURAL INDUSTRIES For production or nonsupervisory workers monthly data seasonally adjusted except as noted Percent eh ange from a year earlier total private n onagricultural 5 Averajge gross weekly esirnings Period Total rivate nonagnc ultural l Current dollars Manufacturing 1977 dollars 3 Construction Wholesale and retail trade Current dollars Sept Get Nov Dec Jan Feb Mar Apr May June July r Aug r Sept Also includes other private industry groups shown on p 14 Adjusted for interindustry employment shifts and for overtime in manufacturing Current dollar index or earnings divided by the consumer price index on a base Revised index for urban wage earners and clerical workers used beginning 1977 dollars Current dollars Monthly changes based on indexes to two decimal places 5 Based on unadjusted data Source Department of Labor Bureau of Labor Statistics 15 PRODUCTIVITY AND RELATED DATA BUSINESS SECTOR Outp ut l Output pe T hour of allpersons Period Business sector Nonfarm business sector Business sector Hours of all perse ns 2 Nonfarm business sector Business sector Compens ation per hour 3 Nonfarm business sector Business sector Nonfarm business sector Business sector Nonfarm business sector Implicit price defla tor 5 Unit abor CO st Eeal com pensation per h our 4 Business sector Nonfarm business sector Business sector Nonfarm business sector 191r ciuarterly ata seasontally adjus ted m IV I n m IV 1983 I np rn r r r 107 1 l r l r r r 52 7 Peireent change quarte rly data at seasonally adjusted annual rates j HI IV I II Ill IV I II r III r r r Output refers to gross domestic product originating in the sector in 1972 dollars 2 Hours of all persons in private industry 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 A sn includes an estimate of wages salaries and supplemental payments for the selfemployed 4 Hourly compensation divided by the consumer price index 16 r g r r r Current dollar gross domestic product divided by constant dollar gross domestic product 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 Source Department of Labor Bureau of Labor Statistics PRODUCTION AND BUSINESS ACTIVITY INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Industrial production rose 1 5 percent in September following a rise of 1 2 percent in August The index for September was 11 9 percent above its year earlier level INDEX INDEX RATIO SCALE TOTAL INDUSTRIAL PRODUCTION RATIO SCALE UTILITIES AND MINING PRODUCTION MANUFACTURING PRODUCTION MANUFACTURING CAPACITY UTILIZATION RATE SEASONALLY ADJUSTED COUNCIL OF ECONOMIC ADVISERS SOURCE BOARD OF GOVERNORS OF T E FEDERAL RESERVE SYSTEM Seasonally adjusted Period 1967 proportion Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June r July r Aug r Sept 1 2 from year earlier Mining Total Output as percent of capacity Annual data are averages of the four monthly indexes Manufa cturing Manufacturing Percent Capacity u ilization rate percent l Industry proc uction indexes To tal Indus trial produ ction Durable Utilities Nondurable Commerce series 2 Federal Reserve series Industrial materials Federal Eeserve series r Sources Board of Governors of the Federal Reserve System and Department of Commerce Bureau of Economic Analysis 17 INDUSTRIAL PRODUCTION MAJOR MARKET GROUPS AND SELECTED MANUFACTURES seasonally adjusted Prod ucts Final produets Period C onsumer good s Total Total Durable goods 1967 proportion Intermedia e products Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June r July r Aug r Sept Materials Equij ment Nondurable goods Total Total Business Construction supplies Supplementary group Energy total seasonally adjusted ftendurable imanufacture s Durable m umfaetures Transp wtation equip ment Primary metals Period Total 1967 proportion Sept Get Nov Dee 1983 Jan Feb Mar Apr May June r July r Aug r Sept p Iron and steel Fabricated metal products Source Board of Governors of the Federal Reserve System 18 Nonelectrical machinery Electrical machinery Total Motor vehicles and parts Lumber and products Apparel products Printing and publishing Chemicals and products Foods NEW CONSTRUCTION Monthly data seasonally adjusted Constructioii contracts 2 Private Period Total new construction expenditures Resic ential Total Commercial and industrial New housing units Total l Other Federal State and local Total value index Commercial and industrial floor space millions of square feet I illions of dollars Annual rates Annual rates Aug Sept Oct Nov Dec Jan Feb Mar Apr r May r June r July r Aug Septp Includes nonhousekeeping residential construction and additions and alterations not shown separately 2 F W Dodge series Relates to 50 States beginning 1969 for value index and beginning 1971 for floor space r r l 4 Sources Department of Commerce Bureau of the Census and McGraw Hill Information Systems Company F W Dodge Division NEW PRIVATE HOUSING AND VACANCY RATES Thousands of units or homes except as noted New pri ate homes New private housing units Period Units started by type of structure Total unit units or more units Units authorized Units completed Homes sold Homes for sale at end of period 1 Vacancy rate for rental housing units percent r Seasonal ly adjusted annu al rates 1982 Sept Oct Nov Dee 1983 Jan Feb Mar Apr May June July r Aug r Sept Seasonally adjusted 2 Quarterly data entered in last month of quarter Series beginning 1979 not strictly comparable with earlier data 3 New series beginning March 1979 NOTE Units authorized beginning 1978 relate to 16 000 permit issuing places are for 14 000 places Source Department of Commerce Bureau of the Census 19 BUSINESS SALES AND INVENTORIES Manufacturing and Trade Manufacturing and trade sales rose 0 5 percent in August and inventories rose 6 billion According to the advance survey total retail sales rose 1 6 percent in September following a decline of 1 6 percent in August BILLIONS OF DOLLARS RATIO SCALE BILLIONS OF DOLLARS RATIO SCALE RETAIL INVENTORIES MANUFACTURING AND TRADE SALES RETAIL SALES iiiiiIiii 1979 RATIO INVENTORY SALES RATIO MANUFACTURING AND TRADE I l i l i i i i SEASONALLY ADJUSTED SOURCE DEPARTMENT OF COMMERCE Manufact uing and trac e 1 COUNCIL OF ECONOMIC ADVISERS Inventories 3 Inventories 3 Sales 2 Period Qaloc 2 4 Inventory sales ratio Ee ail Wholesale Sales 2 Inven Durable Total goods stores ble goods stores Manufac Durable Nondura Total Nondura goods stores ble goods stores turing Retail i Millions of dollars seasonally tdjusted Aug Sept Get Nov Dec 1983 Jan Feb Mar Apr May June July r Aug p Sept r r r See page 21 for mam factoring Monthly average for and total f ar month ear Book value end of period seasonal adjusted 20 For anjiual periods rtitio of weightecl average inventones to average monthly sales for monthly data ratio of inventories a t end of month to sales for mo nth Source department of 3ommerce Buireau of Economie Analysis and Bureau of the Census MANUFACTURERS SHIPMENTS INVENTORIES AND ORDERS In August manufacturers shipments inventories and orders rose In September according durable goods shipments rose and new orders fell BILLIONS OF DOLLARS RATIO SCALE 240 SHIPME NTS 200 IBU s i r x TOTAL BILLIONS OF DOLLARS RATIO SCALE J INVENT ORES iii V OM J 1 r Nor DURABLE r Ui t r O ttt DURABLE GCX3DS QA I M I l l l l l l l NO sIDURABLE GC ODS AH BILLIONS OF DOLLARS RATIO SCALE 240 p H GO ODS TOTAL linn mi II I I 1 DURABLE G DOS f to advance data E r w TOTAL URABLE GOODS ttff i E NEW OFRDERS IAD 1 V 1 Af F f w N V ENDURABLE G DODT h u l l l l 1 l l 1 1 i i 1 ii I l 40 I 1 1 i i 1 i l1 1 i I I 1i 111 1 r INVENTORY SHIPMENTS RATIO m f 60 I M I l l l l l l l i i i 1 i I i 1 1 i i1 1 i i I i i i 1 1 i i l i l i I i i l i i SEASON ALLY ADJUSTED COUNCIL OF ECONOMIC ADVISERS SOURCE DEPARTMENT OF COMMERCE Manufa cturers shipinents 1 ft amifacturers new orders i Manufa 3turers inven tones 2 Durabl 3 goods Period Total Durable goods Nondurable goods Durable goods Total Nondurable goods Total Total Capital goods industries nondefense Nondurable goods Manufacturers unfilled orders 3 Manufacturers inventoryshipments ratio 4 Millions of do liars seasoiaally adjust ed Aug Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug Sept p r r r Monthly average for year and total for month Shipments are the same as sales Book value end of period End of period For annual periods ratio of weighted average inventories to average monthly shipments for monthly data ratio of inventories at end of month to shipments for month Source Department of Commerce Bureau of the Census 21 PRICES PRODUCER PRICES In September the producer price index for all finished goods rose 0 2 percent seasonally adjusted Prices of finished consumer foods rose 0 7 percent and prices of other finished consumer goods rose 0 2 percent Prices of capital equipment fell 0 3 percent INDEX RATIO SCALE INDEX RATIO SCALE COUNCIL OF ECONOMIC ADVISERS SOURCE DEPARTMENT OF LABOR monthly data seasonally adjusted Intern lediate materials Fini shed goods Period Total finished goods Finished goc ds excluding consumer foocIs Consumer foods Consumer gc ods Total Total Sept Oct Nov Dec 1983 Jan Feb Mar Apr Mav r June July Aug Sept Intermediate materials for food manufacturing and feeds 22 Durable Nondurable Capital equipment Total finished Total Foods and feeds l Cnide materials Other Total Source Department of Labor Bureau of Labor Statistics Foodstuffs and feedstuffs Other CONSUMER PRICES In September the consumer price index for all urban consumers rose 0 5 percent seasonally adjusted also 0 5 percent not seasonally adjusted The index was 2 9 percent above its level in September 1982 INDEX RATIO SCALE 320 INDEX RATIO SCALE SEE NOfE ON TABLE BELOW SOURCE DEPARTMENT OF LABOR 1983 COUNCIL OF ECONOMIC ADVISERS except as noted monthly data seasonally adjusted except as noted Ti ansportati on Hou sing All She Iter Period All items Food HomeTotal Total Renters 2 costs Maintenance and repairs Relative importance December 1982 Fuel and Apparel and other utilities upkeep Total New cars Motor fuel 3 Ener Medical care gy 4 and shelter NSA Includes items not shown separately December Includes direct pricing of diesel and gasohol beginning September 1981 Fuel oil coal and bottled gas gas piped and electricity and motor fuel motor oil coolant etc 5 costs NSA NSA Rel imp Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug Sept owners 2 items less food energy Energy excludes motor oil coolant etc beginning January 1983 NOTE NSA indicates data are not seasonally adjusted Data beginning 1978 are for all urban consumers earlier data are for urban wage earners and clerical workers Data beginning 1983 incorporate a rental equivalence measure for homeownership costs Source Department of Labor Bureau of Labor Statistics 23 CHANGES IN PRODUCER PRICES FOR FINISHED GOODS Percent change from preceding period monthly data seasonally adjusted except as noted Ch ange from p receding period Period Change from 3 month s earlier anntml rate Change from 6 month s earlier ann ual rate Consume r goods Consume r goods Consume r goods Total finished goods Capital equipment Excluding foods Foods Total finished goods Capital equipment Excluding foods Foods Total finished goods Capital equipment Excluding foods Foods Change from year earlier total finished goods NSA Chsinge Dec to Dec N SA C lange moiith to mon th 1982 Sept Oct Nov Dec Jan Feb Mar Apr Mayr June r July Aug r Sept Source Department of Labor Bureau of Labor Statistics NOTE NSA indicates data are not seasonally adjusted CHANGES IN CONSUMER PRICES Percent change from preceding period monthly data seasonally adjusted except as noted Hoiising All All items l Food Total 1 Total 1 Renters costs Homeowners Maintenance and NSA Period Addenduma All items percent chan ge annual nite Tninsportati on Sh elter Fuel and other utilities Apparel and upkeep Medical care Energy 3 items less food energy and shelter NSA Total l New cars Motor fuel 2 From 3 months earlier From 6 months earlier From year earlier NSA Chan re Deeenriber to 1 ecembe r NSA Change month o month 1982 Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Includes items not shown separately Includes direct pricing of diesel and gasohol beginning September 1981 Fuel oil coal and bottled gas gas piped and electricity and motor fuel motor oil coolant tc Energy excludes motor oil coolant etc beginning January 1983 NOTE NSA indicates data are not seasonally adjusted 24 Data beginning January 1978 are for all urban consumers earlier data are for urban wage earners and clerical workers Data beginning January 1983 incorporate a rental equivalence measure for homeownership costs Source Department of Labor Bureau of Labor Statistics PRICES RECEIVED AND PAID BY FARMERS Prices received by farmers were unchanged in October and prices paid by farmers were unchanged in the month ended October 15 INDEX RATIO SCALE INDEX RATIO SCALE SOURCE DEPARTMENT OF AGRICULTURE COUNCIL OF ECONOMIC ADVISERS P rices Pri ces received by farm ers Period All farm products Livestock and products Crops All commodities services interest taxes and wage rates l paid by farmer s Production items interest taxes and wage rates r Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Get r r Includes items not shown separately Percentage ratio of index of prices received by farmers to index of prices paid interest taxes id wage and wasre rates 2 Ratio Production items r NOTE The official indexes are published on a 1910 14 base as required by law The indexes have been converted to a base to facilitate comparison with other indexes Source Department of Agriculture 25 MONEY CREDIT AND SECURITY MARKETS MONEY STOCK MEASURES AND LIQUID ASSETS Growth in the monetary aggregates was little changed in September BILLIONS OF DOLLARS RATIOSCALE 2 600 BILLIONS OF DOLLARS RATIO SCALE SEASONALLY ADJUSTED SOURCE BOARD OF GOVERNORS OF THE FEDERAL A COUNCIL OF ECONOMIC ADVISERS Averages of daily figures billons of dollars seasonally adjusted M3 Ml Sum of currency demand deposits travelers checks and other checkable deposits OCD l Period Dec Dec Dec Dec Dec Dec Dec Dee Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug Sept M2 Ml plus overnight RPs and Eurodollars MMMF balances general purpose and broker dealer MMDAs and savings and small time deposits r 2 114 4 r Net of demand deposits due to foreign commercial banks and official institutions 2 Annual changes are from December to December and monthly changes are from 6 months earlier at an annual rate 26 L M2 plus large time deposits term RPs and institution only MMMF M3 plus other liquid assets r r Percent change from pear or 6 m onths earlier NOTE See page 27 for components Source Board of Governors of the Federal Reserve System M2 Ml M r COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS Averages of daily figures billions of dollars seasonally adjusted except as noted Other DePeriod Currency mand deposits l checkable depos its OCD Overnight repurchase agreements RPs net plus overnight Eurodollars NSA Dee Sept Get Nov Dee 1983 Jan Feb Mar Apr May June July Aug Septp Money market mutua 1 fund bala nees Gener al purpose Institution only and broker dealer NSA NSA Money market deposit accounts MMDAs its r r 139 7 r 138 7 r Large denomination time deposits 2 NSA Small denomination time deposits 2 1 Net of demand deposits due to foreign commercial banks and official institutions Small denomination and large denomination deposits are those issued in amounts of less than and more than respectively 2 Term repurchase agreements RPs Term Eurodollars net NSA Savings depos NSA a Savings bonds Shortterm Treasury securities Bankers acceptances mercial paper r r Travelers checks are a component of money stock but are not shown here NSA indicates data are not seasonally adjusted Source Board of Governors of the Federal Reserve System NOTE See p 26 for overall measures CONSUMER INSTALLMENT CREDIT Millions of dollars monthly data seasonally adjusted Installnnent Credit 63itended Installnlent credit liq uidated Net change in am ount l Amount ou tstanding en i of period sea sonally adjus ted outstanding Period Aug Sept Get Nov Dee 1983 Jan Feb Mar Apr May June July Aug Total 2 Automobile Revolving Total 2 Automobile Through 1982 calculated as the difference between credit extensions and credit liquidations Beginning 1983 calculated as change in amount outstanding 2 Includes mobile home and other not shown separately Revolving Total 2 Automobile Revolving Total 2 Automobile Revolving Note Extensions and liquidations not available after December 1982 Source Board of Governors of the Federal Reserve System 27 BANK LOANS AND INVESTMENTS AND RESERVES Commercial and industrial loans were about unchanged in September BILLIONS OF DOLLARS RATIO SCALE BILLIONS OF DOLLARS RATIO SCALE ALL COMMERCIAL BANKS INVESTMENT IN OTHER SECURITIES V SEASONALLY ADJUSTED AVERAGES OF WEDNESDAY FIGURES SOURCE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM COUNCIL OF ECONOMIC ADVISERS Billions of dollars seasonally adjusted except as noted Depo sitory institutio ns Al commercial ban i S 1 E Bserves adjust sd Loans a nd leases Period Total loans and investments Total 2 Born wings millions of dollars unad usted for changes i a Investinents 3 res erve requirem ents Commercial and industrial loans U S Treasury securities Other securities Total Nonborrowed Required Total Seasonal Dec Dec Dec Dec Dec Dec Dec Dec Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Septl r r l Data are averages of Wednesday figures Excludes loans to commercial banks in the United States Data are averages of daily figures 28 NOTE Beginning Dec 1981 bank loans and investments and reserves aggregates have been reduced because of shifts from U S banking offices to International Banking Facilities IBFs Source Board of Governors of the Federal Reserve System SOURCES AND USES OF FUNDS NONFARM NONFINANCIAL CORPORATE BUSINESS Billions of dollars quarterly data at seasonally adjusted annual rates Uses Sources External Ci edit market fu nds Period Total Internal l Total Securities Total Total Loans and short term paper and mortgages Other I II Ill IV I UP Undistributed profits after inventory valuation and capital consumption adjustments capital consumption allowances and foreign branch profits dividends and subsidiaries earnings retained abr d Consists of tax liabilities trade debt and direct foreign investment in the U S Capital expenditures 3 Increase in financial assets Discrepancy sources less uses Plant and equipment residential structures inventory investment and mineral rights from U S Government Source Board of Governors of the Federal Reserve System CURRENT ASSETS AND LIABILITIES OF NONFINANCIAL CORPORATIONS Billions of dollars except as noted C urrent Curren assets TT End of period Total Cash Government securities liabilitit s Net Notes and accounts receivable Other current assets Inventories Total Notes and accounts payable Other current liabilities working capital ratio SEC series FTC FRB series I rr n inrr IV lp Total current assets divided by total current liabilities Based on data from Statistics of Income Department of the Treasury Based on data from Quarterly Financial Report for Manufacturing Mining and Trade Corpo ations Federal Trade Commission and Department of Commerce See Federal Reserve Bulletin July 1978 for details regarding the series Series revised beginning 1978 Sources Board of Governors of the Federal Reserve System Department of Commerce Federal Trade Commission and Securities and Exchange Commission NOTE SEC series not available after 1974 29 INTEREST RATES AND BOND YIELDS Interest rates declined overall in October PERCENT PER ANNUM 1975 SOURCE SEE TABLE BELOW COUNCIL OF ECONOMIC ADVISERS Percent per annum U S T reasury security yields Period 3 month bills 1 Constant irlaturities 3 year year High grade municipal bonds Standard Poor s 3 Corporate Aaa bonds Moody s Prime commercial Discount rate N Y F R Bank Prime rate charged 5 by banks High low 1982 Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug Sept Oct Week ended 1983 Oct Nov r Rate on new issues within period bank discount basis Yields on the more actively traded issues adjusted to constant maturities by the Treasury Department 3 Weekly data are Wednesday figures 4 Bank discount basis Prior to November data are for 4 6 months paper 5 Average effective rate for year high and low rate for month and week 2 30 r FHLBB High low New home mortgage r 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 Rates beginning January 1973 not strictly comparable with prior rates Sources Department of the Treasury Board of Governors of the Federal Reserve System Federal Home Loan Bank Board Moody s Investors Service and Standard Poor s Corporation COMMON STOCK PRICES AND YIELDS Stock prices rose in October INDEX DEC INDEX DEC PERCENT 20 20 EARNINGS PRICE RATIO ON COMMON STOCKS S P 1983 SOURCES NEW YORK STOCK EXCHANGE AND STANDARD POOR S CORPORATION COUNCIL OF ECONOMIC ADVISERS Co mmon stock price s 1 Nevv York Stock Exc hange indexes I ee O 2 Standard Period Composite Sept Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug Sept Oct Week ended 1983 Oct Industrial Transporta 3 4 Poor s composite index Dividendprice ratio Earningsprice ratio Average of daily closing prices Includes all the stocks more than 1 500 listed on the NYSE Includes 30 stocks Includes 500 stocks 5 Standard Poor s series Dividend price ratios based on Wednesday closing prices Earnings2 Finance Utility Dow Jones industrial average 3 Common st ock yields perce nt r price ratios based on prices at end of quarter NOTE All data relate to stocks listed on the New York Stock Exchange NYSE Sources New York Stock Exchange Dow Jones Company Inc and Standard Poor s Corporation 31 FEDERAL FINANCE FEDERAL OUTLAYS AND DEBT In fiscal year 1983f there was a budget deficit of 195 4 billion compared to a budget deficit of 110 6 billion in fiscal 1982 BILLIONS OF DOLLARS BILLIONS OF DOLLARS BUDGET SURPLUS OR DEFICIT FISCAL YEARS COUNCIL OF ECONOMIC ADVISERS SOURCES DEPARTMENT OF THE TREASURY AND OFFICE OF MANAGEMENT AND BUDGET Billions of dollars Period Fiscal year or period Transition quarter p 1984 estimates First Concurrent Resolution June Mid Session Review July Budget receipts 32 Budget surplus or deficit First Concurrent Resolution June figures exclude reserve fund items Estimates from Mid Session Review of the 1984 Budget Office of Management and Budget July Budget outlays Off budget outlays Total surplus or deficit Federal debt end of period Gross Held by the public Sources Department of the Treasury and Office of Management and Budget except as noted FEDERAL BUDGET RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In fiscal year 1983 billion higher lower in fiscal 1982 and 67 5 BILLIONS OF DOLLARS BILLIONS OF DOLLARS BUDGET OUTLAYS NONDEFENSE FISCAL YEARS COUNCIL OF ECONOMIC ADVISERS SOURCES DEPARTMENT OF THE TREASURY AND OFFICE OF MANAGEMENT AND IUDGET Billions of dollars Budget outlays Budget r seeipts Nation al defense Period Total Fiscal year or period Transition quarter p 1984 estimates l Individual income taxes Corporation income taxes Other Estimates from Mid Session Review of the 1984 Budget Office of Management and Budget Julv Total Total Department of Defense military International affairs Health and income security Net interest Other Sources Department of the Treasury and Office of Management and Budget 33 FEDERAL SECTOR NATIONAL INCOME ACCOUNTS BASIS In the second quarter Federal receipts rose 29 3 billion annual rate and expenditures rose 12 1 billion yielding a deficit of 166 1 billion In the third quarter according to preliminary estimates expenditures rose 13 6 billion receipts data are incomplete BILLIONS OF DOLLARS BILLIONS OF DOLLARS SURPLUS OR DEFICIT CALENDAR YEARS SOURCE DEPARTMENT OF COMMERCE COUNCIL OF ECONOMIC ADVISERS Billions of dollars quarterly data at seasonally adjusted annual rates Federal jovernment expenditur 3S Federal Governmeiit receipts Period Total Fiscal year Calendar year HI IV 1982 I n HI IV 1983 I n mP Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Total Transfer payments Grantsin aid to State and local governments Net interest paid Subsidies less current surplus of Government enterprises or deficit LessWage accruals less disbursements Sources Department of Commerce Bureau of Economic Analysis Department of the Treasury 34 Purchases of goods and services and Office of Management and Budget national income and product accounts INTERNATIONAL STATISTICS INDUSTRIAL PRODUCTION AND CONSUMER PRICES MAJOR INDUSTRIAL COUNTRIES Consume r prices imadjusted Indu strial prod action sestsonally adju sted Period Oct Nov Dec 1983 Jan Feb Mar Apr May June July Aug Septp 1 Canada Japan United States r 146 4 r 149 6 r r France r Germany 57 Italy r r United States r United Kingdom 158 r Canada Japan France Germany Italy United Kingdom tration Office of Trade Investment and Analysis Trade Performance Division in International Economic Indicators Beginning January 1978 data relate to all urban consumers Source National sources as reported by Department of Commerce International Trade Adminis U S MERCHANDISE EXPORTS AND IMPORTS Millions of dollars monthly data seasonally adjusted Merc handise expo rts 1 Period Total domestic and foreign exports Gerleral Domestic exports Total 2 Food beverages and tobacco Crude materials and fuels Merchandise trade balance Merc tiandise imp orts Manufactured goods Total import S 3 Food beverages and tobacco 2 Crude materials and fuels Manufactured goods Total c i f value Exports t less imports customs value Exports f a s less imports f a s Exports f a s less imports I a s valu 3 Monthly average Customs value Sept Get Nov Dec Jan Feb Mar Apr May June July Aug Sept Department of Defense shipments of grant aid military supplies and equipment under the Military Assistance Program are excluded from totals for all periods and from monthly detail beginning January 1978 2 Total includes commodities and transactions not classified according to kind 3 Total arrivals of imported goods other than intransit shipments NOTE Imports on c i f basis beginning 1982 not strictly comparable with earlier periods Data beginning 1980 include trade of the U S Virgin Islands except that for 1980 Virgin Islands exports are reflected in the figures for domestic and foreign exports combined and trade balance Data for 1975 79 for domestic and foreign exports combined total general imports and trade balance include trade of the Virgin Islands Source Department of Commerce Bureau of the Census 35 U S INTERNATIONAL TRANSACTIONS In the second quarter the current account deficit rose to 9 7 billion from 3 6 billion largely as a result of a widening of the merchandise trade deficit to 14 7 billion from 8 8 billion in the first quarter BILLIONS OF DOLLARS 10 BILLIONS OF DOLLARS SOURCE COUNCIL OF ECONOMIC ADVISERS DEPARTMENT OF COMMERCE Millions of dollars quarterly data seasonally adjusted Credits debits Imvestment ineonie 3 Merchandise 1 f Period I 1983 I III IV IV 3 986 Balance on current account Ill Remittances pensions and other unilateral transfers 1 Payments n Other services net 3 Balance on goods and services l Receipts Imports Net travel and transportation receipts Net balance Exports 1974 Net military transactions Excludes military grants Adjusted from Census data for differences in timing and coverage Fees and royalties from U S direct investments abroad or from foreign direct investments in the 36 Net United States are excluded from investment income and included in other services net Source Department of Commerce Bureau of Economic Analysis U S INTERNATIONAL TRANSACTIONS Continued In the capital accounts claims on foreigners reported by U S banks decreased 3 5 billion in the second quarter compared to an increase of 15 9 billion in the first quarter Liabilities to foreigners and international financial institutions reported by U S banks increased 4 1 billion in the second quarter compared with a 13 5 billion increase in the first quarter BILLIONS OF DOLLARS 60 BILLIONS OF DOLLARS 160 SEASONALLY ADJUSTED CHANGE IN FOREIGN ASSETS IN THE U S NET A L I COUNCIL OF ECONOMIC ADVISERS SOURCE DEPARTMENT OF COMMERCE Millions of dollars quarterly data seasonally adjusted except as noted Foreign assets in the IJ S net increase capital inflowf U S assets abroad net increase capitail outflow Period Total U S official reserve assets 1 2 Other U S Government assets U S private assets Total Foreign official assets Other foreign assets Statistical discrepancy Allocations of special drawing rights SDRs Total sum of the items with sign reversed Of which Seasonal adjustment discrepancy U S official assets net 1 unadjusted end of period IV I HP HE IV I n m Consists of gold special drawing rights SDRs convertible currencies and the U S reserv position in the IMF 2 Quarterly data are not seasonally adjusted Sources Department of Commerce Bureau of Economic Analysis and Department of the Treasury 37 Contents TOTAL OUTPUT INCOME AND SPENDING Page Gross National Product Gross National Product in 1972 Dollars Implicit Price Deflators for Gross National Product Changes in GNP and GNP Price Measures Nonfmancial Corporate Business Output Costs and Profits National Income Personal Consumption Expenditures Sources of Personal Income Disposition of Personal Income Farm Income Corporate Profits Gross Private Domestic Investment Expenditures for New Plant and Equipment Nonfarm Business 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 and Hourly Earnings Private Nonagricultural Industries Average Weekly Earnings Private Nonagricultural Industries Productivity and Related Data Business Sector 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 PRICES Producer Prices Consumer Prices Changes in Producer Prices for Finished Goods Changes in Consumer Prices Prices Received and Paid by Farmers MONEY CREDIT AND SECURITY MARKETS Money Stock Measures and Liquid Assets Components of Money Stock Measures and Liquid Assets Consumer Installment Credit Bank Loans and Investments and Reserves Sources and Uses of Funds Nonfarm Nonfinancial Corporate Business Current Assets and Liabilities of Nonfinancial Corporations Interest Rates and Bond Yields Common Stock Prices and Yields FEDERAL FINANCE Federal Receipts Outlays and Debt Federal Budget Receipts by Source and Outlays by Function Federal Sector National Income Accounts Basis INTERNATIONAL STATISTICS Industrial Production and Consumer Prices Major Industrial Countries U S Merchandise Exports and Imports U S International Transactions 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 T Revised c Corrected Not available also not applicable For sale by the Superintendent of Documents U S Government Printing Office Washington B C 20402 Price 4 25 single copy 5 35 foreign Subscription price 25 00 per year 31 25 for foreign mailing 38 O U S GOVERNMENT PRINTING OFFICE

Gross Private Domestic Investment

DATE: October 1983

PART OF:

Economic Indicators : October 1983

AUTHOR:

Council of Economic Advisers (U.S.)

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Council of Economic Advisers (U.S.) , United States. Congress. Joint Committee on the Economic Report, 1946-1956 and United States. Congress. Joint Economic Committee, 1956-. "Gross Private Domestic Investment," in Council of Economic Advisers (U.S.) , United States. Congress. Joint Committee on the Economic Report, 1946-1956 and United States. Congress. Joint Economic Committee, 1956-. "October 1983," Economic Indicators (October 1983) : 11-11. https://fraser.stlouisfed.org/title/1/item/423/toc/138626 , accessed on December 14, 2019.

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Economic Data