Full text of Economic Indicators : November 2008
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110th Congress, 2nd Session Economic Indicators NOVEMBER 2008 (Includes data available as of December 10, 2008) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE mstockstill on PROD1PC66 with ECOIND WASHINGTON : 2008 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00039 Fmt 3439 Sfmt 3439 E:\HR\OC\ECOIND.039 ECOIND JOINT ECONOMIC COMMITTEE (Created pursuant to Sec. 5(a) of Public Law 304, 79th Cong.) CHARLES E. SCHUMER, New York, Chairman CAROLYN B. MALONEY, New York, Vice Chair HOUSE OF REPRESENTATIVES MAURICE D. HINCHEY, New York BARON P. HILL, Indiana LORETTA SANCHEZ, California ELIJAH E. CUMMINGS, Maryland LLOYD DOGGETT, Texas JIM SAXTON, New Jersey KEVIN BRADY, Texas PHIL ENGLISH, Pennsylvania RON PAUL, Texas SENATE EDWARD M. KENNEDY, Massachusetts JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, Jr., Pennsylvania JIM WEBB, Virginia SAM BROWNBACK, Kansas JOHN E. SUNUNU, New Hampshire JIM DeMINT, South Carolina ROBERT F. BENNETT, Utah COUNCIL OF ECONOMIC ADVISERS EDWARD P. LAZEAR, Chairman DONALD B. MARRON, Member [PUBLIC LAW 120—81ST CONGRESS; CHAPTER 237—1ST SESSION] JOINT RESOLUTION [S.J. Res. 55] To print the monthly publication entitled ‘‘Economic Indicators’’ Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Joint Economic Committee be authorized to issue a monthly publication entitled ‘‘Economic Indicators,’’ and that a sufficient quantity be printed to furnish one copy to each Member of Congress; the Secretary and the Sergeant at Arms of the Senate; the Clerk, Sergeant at Arms, and Doorkeeper of the House of Representatives; two copies to the libraries of the Senate and House, and the Congressional Library; seven hundred copies to the Joint Economic Committee; and the required numbers of copies to the Superintendent of Documents for distribution to depository libraries; and that the Superintendent of Documents be authorized to have copies printed for sale to the public. Approved June 23, 1949. Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. mstockstill on PROD1PC66 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00040 Fmt 3440 Sfmt 3440 E:\HR\OC\ECOIND.040 ECOIND TOTAL OUTPUT, INCOME, AND SPENDING GROSS DOMESTIC PRODUCT In the third quarter of 2008, according to revised estimates, current-dollar gross domestic product (GDP) rose 3.6 percent (annual rate), real GDP (GDP in chained 2000 dollars) fell 0.5 percent, and the implicit price deflator rose 4.1 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] 1998 ...................... 1999 ...................... 2000 ...................... 2001 ...................... 2002 ...................... 2003 ...................... 2004 ...................... 2005 ...................... 2006 ...................... 2007 ...................... 2005: I ................ II ............... III ............. IV .............. 2006: I ................ II ............... III ............. IV .............. 2007: I ................ II ............... III ............. IV .............. 2008: I ................ II ............... III 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 12,421.9 8,694.1 13,178.4 9,207.2 13,807.5 9,710.2 12,155.4 8,480.9 12,297.5 8,610.8 12,538.2 8,791.1 12,696.4 8,893.7 12,959.6 9,026.3 13,134.1 9,161.9 13,249.6 9,283.7 13,370.1 9,357.0 13,510.9 9,524.9 13,737.5 9,657.5 13,950.6 9,765.6 14,031.2 9,892.7 14,150.8 10,002.3 14,294.5 10,138.0 14,420.5 10,169.5 ¥159.9 ¥260.5 ¥379.5 ¥367.0 ¥424.4 ¥499.4 ¥615.4 ¥713.6 ¥757.3 ¥707.8 ¥670.7 ¥680.9 ¥725.1 ¥777.7 ¥761.7 ¥777.2 ¥792.7 ¥697.7 ¥728.8 ¥723.1 ¥682.6 ¥696.7 ¥705.7 ¥718.2 ¥706.5 955.9 991.2 1,096.3 1,032.8 1,005.9 1,040.8 1,182.4 1,311.5 1,480.8 1,662.4 1,266.8 1,305.1 1,314.5 1,359.6 1,423.2 1,462.8 1,492.5 1,544.5 1,560.5 1,614.4 1,714.9 1,759.7 1,820.8 1,923.2 1,971.3 1,509.1 1,625.7 1,735.5 1,614.3 1,582.1 1,664.1 1,888.6 2,086.1 2,220.4 2,130.4 2,046.0 2,039.7 2,084.2 2,174.6 2,236.7 2,253.7 2,231.7 2,159.5 2,117.8 2,147.2 2,164.0 2,092.3 2,056.1 2,000.9 2,013.6 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 2,025.1 2,238.1 2,370.2 1,937.5 1,986.0 2,039.6 2,137.4 2,184.9 2,240.0 2,285.2 2,242.2 2,289.4 2,337.5 2,397.5 2,456.5 2,526.5 2,641.4 2,677.9 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 2,355.3 2,508.1 2,674.8 2,299.2 2,328.0 2,388.0 2,405.9 2,458.4 2,495.7 2,526.9 2,551.4 2,597.0 2,655.9 2,703.5 2,742.9 2,798.1 2,873.7 2,943.9 530.4 555.8 578.8 612.9 679.7 756.4 825.6 875.5 932.2 979.3 861.0 867.1 894.2 879.5 922.8 928.5 935.5 941.7 950.3 974.6 994.0 998.3 1,026.5 1,056.1 1,097.7 National defense 345.7 360.6 370.3 392.6 437.1 497.2 550.7 588.1 624.1 662.2 576.1 584.4 606.3 585.4 613.6 623.1 624.0 635.9 636.9 656.8 675.6 679.3 699.9 723.3 759.5 Nondefense 184.7 195.2 208.5 220.3 242.5 259.2 274.9 287.4 308.0 317.1 284.9 282.8 288.0 294.1 309.3 305.4 311.5 305.9 313.4 317.8 318.3 319.0 326.6 332.9 338.2 State and local 987.9 1,065.0 1,142.8 1,212.8 1,281.5 1,336.0 1,391.2 1,479.8 1,575.9 1,695.5 1,438.2 1,460.9 1,493.8 1,526.4 1,535.5 1,567.2 1,591.4 1,609.7 1,646.8 1,681.3 1,709.5 1,744.6 1,771.6 1,817.6 1,846.2 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,676.2 9,201.5 9,760.5 10,159.7 10,457.7 10,946.5 11,627.3 12,378.6 13,129.0 13,811.2 12,072.7 12,278.1 12,527.2 12,636.1 12,906.5 13,068.3 13,187.1 13,354.3 13,526.5 13,738.4 13,927.6 14,052.3 14,176.4 14,370.5 14,469.1 8,906.9 9,528.9 10,196.4 10,495.0 10,894.0 11,460.2 12,301.3 13,135.5 13,935.7 14,515.3 12,826.1 12,978.4 13,263.3 13,474.1 13,721.4 13,911.3 14,042.3 14,067.9 14,239.7 14,460.6 14,633.1 14,728.0 14,856.6 15,012.7 15,127.0 8,768.3 9,302.2 9,855.9 10,171.6 10,500.2 11,017.6 11,762.1 12,514.9 13,256.6 13,910.0 12,258.0 12,389.7 12,641.2 12,770.6 13,039.2 13,219.4 13,316.1 13,452.0 13,583.3 13,797.2 14,062.8 14,196.6 14,289.0 14,408.3 14,538.0 Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 mstockstill on PROD1PC66 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 2005: ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... I .... II ... III IV .. 2006: I .... II ... III IV .. 2007: I .... II ... III IV .. 2008: I .... II ... III r 9,066.9 9,470.3 9,817.0 9,890.7 10,048.8 10,301.0 10,675.8 10,989.5 11,294.8 11,523.9 10,875.8 10,946.1 11,050.0 11,086.1 11,217.3 11,291.7 11,314.1 11,356.4 11,357.8 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4 11,712.3 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 7,791.7 8,029.0 8,252.8 7,697.5 7,766.4 7,838.1 7,864.9 7,947.4 8,002.1 8,046.3 8,119.9 8,197.2 8,237.3 8,278.5 8,298.2 8,316.1 8,341.3 8,262.1 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,200.4 1,219.0 1,237.1 1,248.2 1,295.2 1,315.4 1,332.7 1,329.3 1,340.4 1,373.8 1,402.9 1,414.7 1,423.1 1,431.8 1,426.5 418.3 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 582.1 595.8 601.7 602.0 596.5 570.1 536.7 508.4 486.4 471.7 445.3 411.6 383.0 369.6 352.1 72.6 68.9 56.5 ¥31.7 12.5 14.3 54.3 38.9 42.3 ¥2.5 74.6 16.7 11.0 53.5 45.9 56.9 53.3 13.1 ¥15.0 ¥2.8 16.0 ¥8.1 ¥10.2 ¥50.6 ¥29.1 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 ¥616.6 ¥615.7 ¥546.5 ¥623.7 ¥601.3 ¥603.6 ¥637.8 ¥636.0 ¥619.4 ¥623.0 ¥584.3 ¥618.6 ¥571.2 ¥511.8 ¥484.5 ¥462.0 ¥381.3 ¥352.3 966.5 1,008.2 1,096.3 1,036.7 1,013.3 1,026.1 1,126.1 1,205.3 1,314.8 1,425.9 1,177.9 1,203.1 1,204.3 1,235.7 1,284.3 1,301.4 1,312.6 1,361.1 1,363.2 1,392.2 1,466.2 1,482.1 1,500.6 1,544.7 1,557.8 1,170.3 1,304.4 1,475.8 1,435.8 1,484.6 1,545.0 1,719.9 1,821.9 1,930.5 1,972.4 1,801.7 1,804.4 1,807.9 1,873.6 1,920.2 1,920.9 1,935.7 1,945.3 1,981.8 1,963.4 1,978.0 1,966.5 1,962.6 1,926.0 1,910.2 1,624.4 1,686.9 1,721.6 1,780.3 1,858.8 1,904.8 1,931.8 1,939.0 1,971.2 2,012.1 1,929.6 1,934.0 1,950.4 1,941.9 1,960.5 1,966.6 1,974.9 1,982.7 1,987.1 2,006.4 2,025.3 2,029.4 2,039.1 2,058.9 2,085.9 1 GDP less exports of goods and services plus imports of goods and services. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Total National defense Nondefense 561.2 573.7 578.8 601.4 643.4 687.1 715.9 724.5 741.0 752.9 718.0 720.1 736.8 723.2 740.6 737.7 741.1 744.4 737.5 749.6 762.7 761.7 772.6 785.0 810.4 365.3 372.2 370.3 384.9 413.2 449.0 475.0 482.2 490.0 502.1 476.3 481.0 495.1 476.5 486.7 489.0 487.9 496.3 488.8 498.8 511.0 509.9 518.9 528.1 550.5 195.9 201.5 208.5 216.5 230.2 238.0 240.7 242.0 250.8 250.4 241.5 238.8 241.4 246.5 253.8 248.5 253.1 247.8 248.6 250.5 251.2 251.5 253.2 256.3 259.1 State and local 1,063.0 1,113.2 1,142.8 1,179.0 1,215.4 1,217.8 1,215.8 1,214.3 1,230.2 1,259.0 1,211.4 1,213.8 1,213.6 1,218.5 1,219.9 1,228.8 1,233.7 1,238.2 1,249.3 1,256.6 1,262.6 1,267.5 1,266.7 1,274.4 1,276.9 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,997.6 9,404.0 9,760.5 9,920.9 10,036.5 10,285.1 10,619.8 10.947.3 11,249.3 11,523.4 10,799.3 10,925.9 11,035.5 11,028.4 11,167.6 11,232.1 11,257.8 11,339.7 11,370.5 11,490.5 11,605.0 11,628.0 11,653.7 11,778.8 11,737.9 9,272.5 9,767.7 10,196.4 10,290.1 10,517.7 10,815.5 11,261.4 11,597.8 11,904.1 12,066.8 11,490.6 11,539.4 11,645.4 11,716.2 11,846.2 11,904.4 11,930.6 11,935.6 11,970.9 12,058.2 12,135.1 12,103.2 12,105.8 12,102.6 12,057.1 9,088.7 9,504.7 9,855.9 9,933.6 10,079.0 10,355.3 10,746.0 11,072.1 11,362.3 11,609.8 10,968.4 11,028.4 11,140.7 11,151.2 11,286.5 11,365.1 11,370.8 11,426.5 11,419.1 11,541.7 11,719.9 11,758.3 11,760.9 11,822.2 11,809.6 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 ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. I ............ II ........... III ......... IV .......... 2006: I ............ II ........... III ......... IV .......... 2007: I ............ II ........... III ......... IV .......... 2008: I ............ II ........... III r ........ mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2005: 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.034 116.676 119.816 111.765 112.346 113,468 114.525 115.533 116.317 117.107 117.732 118.956 119.547 119.997 120.743 121.508 121.890 123.122 Total 95.979 97.575 100.000 102.094 103.542 105.597 108.391 111.581 114.675 117.659 110.177 110.872 112.158 113.081 113.575 114.493 115.377 115.235 116.197 117.241 117.964 119.215 120.277 121.539 123.086 Durable goods Nondurable goods 104.152 101.625 100.000 98.113 95.767 92.366 90.695 89.984 88.771 87.154 90.549 90.345 89.631 89.420 89.211 89.031 88.729 88.129 87.720 87.367 86.941 86.600 86.584 86.240 86.113 Gross private domestic investment Services 93.821 96.174 100.000 101.531 102.090 104.145 107.626 111.606 114.985 118.408 109.536 110.081 113.038 113.697 113.786 115.151 116.410 114.578 116.021 117.825 118.675 121.085 123.053 125.014 128.124 95.318 97.393 100.000 103.256 106.019 109.379 112.929 116.700 120.752 124.712 115.131 116.130 117.079 118.423 119.304 120.276 121.272 122.122 123.194 124.212 125.173 126.248 127.128 128.445 129.618 Nonresidential fixed 101.421 100.057 100.000 99.683 99.513 99.591 100.896 103.829 107.277 108.740 102.769 103.448 103.959 105.091 106.199 107.058 107.527 108.294 108.654 108.729 108.556 109.010 109.173 109.784 110.951 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 92.239 95.780 100.000 104.633 107.240 112.372 120.587 129.268 136.898 128.885 125.349 127.444 130.819 133.311 135.466 136.737 137.163 138.477 139.197 138.730 138.803 138.780 137.878 136.665 136.141 Exports Imports Total 98.905 98.313 100.000 99.625 99.272 101.429 104.997 108.814 112.618 116.585 107.542 108.474 109.154 110.026 110.819 112.402 113.704 113.476 114.480 115.963 116.962 118.735 121.337 124.498 126.545 95.354 95.960 100.000 97.497 96.342 99.686 104.526 111.153 115.932 120.168 107.538 110.061 112.814 114.082 113.785 116.615 118.056 115.262 115.520 119.058 121.208 124.915 128.730 137.144 140.190 94.512 96.883 100.000 101.908 105.632 110.095 115.322 120.835 125.806 130.077 119.915 120.428 121.361 121.614 124.614 125.866 126.232 126.510 128.848 130.027 130.331 131.057 132.867 134.540 135.448 National defense Nondefense State and local 94.643 96.886 100.000 102.002 105.792 110.751 115.932 121.944 127.381 131.874 120.959 121.499 122.451 122.851 126.067 127.424 127.893 128.124 130.312 131.683 132.213 133.217 134.885 136.946 137.983 94.269 96.880 100.000 101.738 105.345 108.898 114.218 118.743 122.803 126.636 117.959 118.418 119.310 119.273 121.847 122.895 123.060 123.427 126.067 126.868 126.718 126.883 128.984 129.865 130.500 92.935 95.667 100.000 102.868 105.434 109.712 114.431 121.863 128.110 134.671 118.720 120.350 123.094 125.266 125.873 127.541 128.991 129.999 131.818 133.794 135.388 137.638 139.854 142.619 144.585 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND GROSS DOMESTIC PRODUCT AND RELATED PRICE MEASURES: INDEXES AND PERCENT CHANGES [Quarterly data are seasonally adjusted] Percent change from preceding period 1 Index numbers, 2000=100 Personal consumption expenditures (PCE) Gross domestic product (GDP) Personal consumption expenditures (PCE) Gross domestic product (GDP) Period Real GDP (chain-type quantity index) 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: 2007: 2008: .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III r ........................... 1 Quarterly GDP chain-type price index 92.359 96.469 100.000 100.751 102.362 104.931 108.748 111.944 115.054 117.388 107.402 108.325 109.287 109.977 110.786 111.502 112.560 112.928 114.264 115.022 115.250 115.681 115.696 117.056 118.425 118.374 118.631 119.460 119.307 GDP implicit price deflator 96.475 97.868 100.000 102.402 104.193 106.409 109.462 113.039 116.676 119.819 108.180 109.185 109.807 110.677 111.778 112.357 113.487 114.536 115.536 116.317 117.109 117.742 118.935 119.531 119.984 120.826 121.613 121.951 123.205 PCE (chain-type price index) PCE less food and energy price index 95.978 97.575 100.000 102.094 103.542 105.597 108.392 111.581 114.675 117.659 107.163 108.179 108.703 109.521 110.187 110.881 112.168 113.089 113.581 114.499 115.381 115.239 116.202 117.246 117.969 119.221 120.283 121.544 123.091 96.895 98.343 100.000 101.904 103.705 105.175 107.338 109.644 112.129 114.548 106.442 107.142 107.601 108.169 108.838 109.405 109.838 110.495 111.076 111.887 112.531 113.022 113.682 114.201 114.797 115.512 116.158 116.782 117.540 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.034 116.676 119.816 108.175 109.178 109.793 110.671 111.765 112.346 113.468 114.525 115.533 116.317 117.107 117.732 118.956 119.547 119.997 120.743 121.508 121.890 123.122 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 6.3 6.1 4.8 6.8 7.4 6.0 5.9 7.1 4.8 8.1 5.1 8.6 5.5 3.6 3.7 4.3 6.9 6.3 2.3 3.5 4.1 3.6 GDP chain-type price index 4.2 4.5 3.7 .8 1.6 2.5 3.6 2.9 2.8 2.0 3.0 3.5 3.6 2.5 3.0 2.6 3.8 1.3 4.8 2.7 .8 1.5 .1 4.8 4.8 ¥.2 .9 2.8 ¥.5 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 3.7 3.8 2.3 3.2 4.0 2.1 4.1 3.7 3.5 2.7 2.8 2.2 4.1 2.0 1.5 2.8 2.6 1.1 4.2 GDP implicit price deflator 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 3.7 3.8 2.3 3.2 4.0 2.1 4.1 3.8 3.6 2.7 2.7 2.2 4.2 2.0 1.5 2.5 2.6 1.3 4.1 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 2.6 3.5 3.8 2.0 3.0 2.5 2.5 4.7 3.3 1.8 3.3 3.1 ¥.5 3.4 3.6 2.5 4.3 3.6 4.3 5.2 1.3 1.5 1.7 1.9 1.8 1.4 2.1 2.1 2.3 2.2 2.4 2.7 1.7 2.1 2.5 2.1 1.6 2.4 2.1 3.0 2.3 1.8 2.4 1.8 2.1 2.5 2.3 2.2 2.6 Source: Department of Commerce, Bureau of Economic Analysis. NONFINANCIAL CORPORATE BUSINESS—GROSS VALUE ADDED AND PRICE, COSTS, AND PROFITS [Quarterly data at seasonally adjusted annual rates] Price per unit of real gross value added of nonfinancial corporate business (dollars) 1 2 Gross value added of nonfinancial corporate business (billions of dollars) 1 Unit nonlabor cost Period Current dollars Chained (2000) dollars 4,655.0 4,950.8 5,272.2 5,293.5 5,371.7 5,558.4 5,956.4 6,396.1 6,863.4 7,075.1 6,210.3 6,358.1 6,418.9 6,597.3 6,771.2 6,817.5 6,931.7 6,933.3 6,999.6 7,066.7 7,098.6 7,135.5 7,119.3 7,153.1 7,255.3 4,725.4 5,011.0 5,272.2 5,224.5 5,269.7 5,387.5 5,662.1 5,907.8 6,167.8 6,264.5 5,789.5 5,911.1 5,903.2 6,027.3 6,129.6 6,141.6 6,212.5 6,187.3 6,188.0 6,253.1 6,293.3 6,323.5 6,302.0 6,394.4 6,422.3 mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2005: ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ I ................................................... II ................................................. III ................................................ IV ................................................ 2006: I ................................................... II ................................................. III ................................................ IV ................................................ 2007: I ................................................... II ................................................. III ................................................ IV ................................................ 2008: I ................................................... II r ................................................ II p ................................................ Total Compensation of employees (unit labor cost) 0.985 .988 1.000 1.013 1.019 1.032 1.052 1.083 1.113 1.129 1.073 1.076 1.087 1.095 1.105 1.110 1.116 1.121 1.131 1.130 1.128 1.128 1.130 1.119 1.130 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 .690 .700 .722 .690 .683 .697 .690 .696 .697 .695 .711 .721 .719 .721 .728 .734 .724 .724 0.226 .229 .237 .257 .253 .253 .249 .257 .260 .269 .253 .254 .264 .258 .257 .261 .260 .264 .267 .267 .268 .271 .271 .272 .276 Consumption of fixed capital Taxes on production and imports 3 Net interest and miscellaneous payments 0.104 .105 .108 .124 .122 .122 .121 .126 .126 .131 .121 .121 .137 .124 .123 .125 .126 .128 .130 .130 .132 .133 .135 .136 .142 0.092 .092 .093 .094 .099 .103 .103 .105 .107 .109 .107 .107 .100 .107 .107 .108 .107 .108 .109 .108 .108 .109 .107 .107 .106 0.030 .032 .036 .039 .032 .028 .025 .026 .027 .029 .025 .026 .027 .027 .027 .028 .027 .028 .028 .029 .028 .029 .029 .029 .028 Corporate profits with inventory valuation and capital consumption adjustments 4 Total 0.114 .107 .090 .068 .081 .091 .120 .136 .152 .139 .130 .139 .127 .147 .152 .152 .160 .145 .143 .143 .139 .130 .125 .122 .129 Taxes on corporate income 0.034 .034 .032 .021 .018 .025 .034 .046 .050 .051 .044 .045 .045 .051 .049 .051 .052 .048 .052 .053 .051 .050 .044 .046 .046 Profits after tax 5 0.080 .073 .058 .047 .063 .066 .087 .089 .102 .087 .085 .093 .081 .097 .102 .101 .108 .096 .091 .090 .088 .080 .081 .076 .083 3 Less subsidies plus business current transfer payments. profits from current production. inventory valuation and capital consumption adjustments. NOTE.—Revisions include changes to series affected by revised wage and salary estimates for 2008:II. Source: Department of Commerce, Bureau of Economic Analysis. 4 Unit 5 With 3 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 2005: ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... I ...... II .... III ... IV ... 2006: I ...... II .... III ... IV ... 2007: I ...... II .... III ... IV ... 2008: I ...... II r ... III r .. 7,752.8 8,236.7 8,795.2 8,979.8 9,229.3 9,632.3 10,306.8 10,974.0 11,795.7 12,270.9 10,826.3 10,958.9 10,779.5 11,331.3 11,611.1 11,738.5 11,848.6 11,984.7 12,087.4 12,233.6 12,338.6 12,424.1 12,447.6 12,468.6 12,477.8 Compensation of employees 5,019.4 5,357.1 5,782.7 5,942.1 6,091.2 6,325.4 6,656.4 7,030.8 7,433.8 7,812.3 6,884.4 6,957.4 7,090.2 7,191.0 7,318.0 7,364.2 7,441.9 7,611.1 7,709.0 7,760.1 7,839.3 7,941.0 8,009.7 8,033.5 8,082.7 Farm 29.4 28.6 22.7 19.7 10.6 29.2 37.3 34.1 16.2 44.0 33.2 38.3 37.1 27.7 17.3 9.8 13.8 23.7 39.3 42.3 47.4 47.1 41.6 38.0 32.4 Nonfarm 598.4 649.7 705.7 752.2 757.8 782.1 874.3 925.7 998.6 1,012.2 903.0 909.8 923.3 966.7 987.5 1,008.4 999.6 998.7 997.9 1,007.9 1,016.4 1,026.7 1,030.1 1,039.0 1,048.2 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 ¥134.8 ¥165.7 ¥192.7 ¥117.2 ¥121.7 ¥154.5 ¥146.0 ¥144.5 ¥160.0 ¥173.4 ¥184.8 ¥176.9 ¥187.0 ¥197.8 ¥209.2 ¥48.0 ¥62.7 ¥88.2 487.1 495.4 559.0 566.3 520.9 524.7 491.2 569.1 631.2 664.4 537.0 554.8 583.9 600.8 615.5 629.7 630.1 649.3 645.8 660.8 663.0 688.1 662.3 683.4 655.8 639.8 674.0 708.9 728.6 762.8 807.2 863.8 928.2 976.2 1,015.5 904.5 924.0 937.4 946.8 962.7 973.6 980.1 988.3 1,002.7 1,012.3 1,019.2 1,027.7 1,025.8 1,039.4 1,042.5 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 40.9 44.3 40.0 90.1 72.2 ¥56.9 58.0 52.8 45.6 40.4 38.2 35.1 44.6 41.8 38.6 39.1 58.6 63.1 801.6 851.3 817.9 767.3 886.3 993.1 1,231.2 1,447.9 1,668.5 1,642.4 1,438.2 1,472.4 1,342.6 1,538.6 1,634.2 1,681.6 1,713.8 1,644.5 1,617.8 1,672.5 1,668.3 1,611.1 1,593.5 1,533.3 1,518.7 Total Profits before tax Inventory valuation adjustment 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,582.8 1,834.2 1,835.1 1,555.3 1,594.0 1,497.1 1,684.6 1,778.7 1,841.6 1,887.2 1,829.3 1,794.7 1,859.5 1,866.1 1,820.2 1,641.5 1,596.0 1,606.9 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,620.6 1,873.7 1,886.3 1,600.7 1,612.0 1,536.3 1,733.3 1,813.8 1,900.1 1,929.9 1,851.1 1,838.9 1,914.8 1,897.1 1,894.3 1,750.9 1,750.0 1,699.3 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥37.8 ¥39.5 ¥51.2 ¥45.4 ¥18.0 ¥39.1 ¥48.7 ¥35.0 ¥58.5 ¥42.7 ¥21.8 ¥44.2 ¥55.3 ¥31.0 ¥74.1 ¥109.4 ¥154.0 ¥92.4 1 With inventory valuation and capital consumption adjustments. 2 NOTE.—Revisions include changes to series affected by revised wage and salary estimates for 2008:II. 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 59.3 49.7 52.3 54.5 58.6 60.7 63.3 54.2 49.8 48.2 46.8 47.5 55.9 53.5 52.3 50.6 50.8 50.4 64.7 67.4 87.1 92.8 84.3 83.8 83.0 70.0 85.4 100.2 97.4 97.9 8.5 76.1 85.1 83.5 86.0 86.8 98.3 97.4 102.2 103.1 103.2 102.1 92.8 10.3 10.1 5.3 ¥1.4 .9 1.7 ¥4.2 ¥13.4 ¥8.6 ¥7.9 ¥7.1 ¥9.3 ¥25.8 ¥11.4 ¥7.8 ¥8.3 ¥9.1 ¥9.2 ¥10.8 ¥8.5 ¥5.5 ¥6.7 ¥7.1 ¥7.7 ¥8.0 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 ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... I .......... II ......... III ....... IV ........ 2006: I .......... II ......... III ....... IV ........ 2007: I .......... II ......... III ....... IV ........ 2008: I .......... II ......... III r ...... mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2005: 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,791.7 8,029.0 8,252.8 7,697.5 7,766.4 7,838.1 7,864.9 7,947.4 8,002.1 8,046.3 8,119.9 8,197.2 8,237.3 8,278.5 8,298.2 8,316.1 8,341.3 8,262.1 Total durable goods 720.3 804.6 863.3 900.7 964.8 1,020.6 1,084.8 1,134.4 1,185.1 1,242.4 1,111.6 1,143.7 1,158.9 1,123.3 1,173.1 1,178.3 1,188.4 1,200.7 1,227.3 1,242.3 1,249.4 1,250.6 1,237.0 1,228.3 1,178.8 Motor vehicles and parts 339.0 372.4 386.5 405.8 429.0 442.1 450.8 449.9 437.9 446.7 447.9 464.3 469.0 418.1 435.4 437.3 439.4 439.6 449.5 451.3 443.5 442.6 430.2 407.2 377.1 Furniture and household equipment 244.7 280.7 312.9 331.8 364.3 397.8 445.1 490.9 550.2 594.0 470.7 482.0 497.0 514.0 537.9 544.6 553.8 564.5 580.3 588.3 600.8 606.6 609.3 629.6 615.1 Nondurable goods Other 137.6 151.7 163.9 163.2 172.4 183.2 195.1 205.1 218.0 228.3 202.0 206.1 203.5 209.0 218.7 216.6 216.7 219.8 222.0 227.7 232.9 230.8 229.4 230.8 227.5 Total nondurable goods 1,794.4 1,876.6 1,947.2 1,986.7 2,037.1 2,103.0 2,177.6 2,252.7 2,335.3 2,392.6 2,220.7 2,243.7 2,260.1 2,286.3 2,310.8 2,328.7 2,342.0 2,359.8 2,380.1 2,391.5 2,398.6 2,400.2 2,397.9 2,420.7 2,377.8 Clothing and shoes Food 865.6 893.6 925.2 940.2 954.6 977.7 1,009.4 1,047.7 1,090.1 1,110.5 1,033.0 1,040.9 1,053.3 1,063.7 1,077.8 1,090.3 1,093.3 1,099.1 1,102.5 1,110.1 1,110.9 1,118.7 1,122.4 1,133.6 1,111.2 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. 263.1 282.7 297.7 303.7 318.3 334.2 350.7 372.3 394.4 412.9 362.4 371.5 371.6 383.7 390.2 391.0 396.1 400.4 409.4 412.2 416.6 413.2 416.3 427.2 411.9 Gasoline and oil 170.3 176.3 175.7 178.3 181.9 183.2 186.7 187.4 184.2 184.5 184.8 187.7 188.6 188.6 186.3 183.2 183.6 183.8 185.1 184.3 184.7 183.8 181.4 179.1 175.1 Services Fuel oil and coal 16.0 16.4 15.8 15.2 15.5 15.4 14.6 13.2 12.4 13.7 14.1 13.3 13.0 12.3 11.5 12.6 12.7 13.0 14.3 13.8 13.3 13.4 12.8 11.9 11.1 Total services 1 Other 481.1 508.6 532.9 549.2 567.1 593.2 618.0 637.3 666.1 687.3 630.2 635.1 638.2 645.4 655.3 663.3 669.0 677.0 683.5 687.1 690.5 687.9 684.8 695.1 694.9 3,615.0 3,758.0 3,928.8 4,023.2 4,100.4 4,178.8 4,311.0 4,420.9 4,529.9 4,646.2 4,379.3 4,398.2 4,439.4 4,466.9 4,484.7 4,515.7 4,537.6 4,581.5 4,616.1 4,632.7 4,659.8 4,676.1 4,704.3 4,712.1 4,712.2 21:12 Dec 12, 2008 Jkt 045798 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 1,118.4 1,154.6 1,171.7 1,103.6 1,113.2 1,123.7 1,133.1 1,143.2 1,151.7 1,158.8 1,164.7 1,168.0 1,170.4 1,172.5 1,175.9 1,177.3 1,182.3 1,184.5 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 1,257.3 1,290.2 1,327.8 1,241.2 1,250.9 1,263.4 1,273.8 1,283.7 1,287.9 1,289.8 1,299.2 1,316.0 1,319.4 1,331.4 1,344.5 1,360.8 1,370.3 1,379.2 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 16.6 17.4 18.0 15.9 16.8 16.4 16.5 16.3 16.3 16.1 15.9 16.0 15.2 14.1 12.9 SOURCES OF PERSONAL INCOME Personal income rose $42.4 billion (annual rate) in October following an increase of $8.0 billion in September. Wages and salaries rose $8.4 billion in October following a decrease of $4.0 billion in September. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. Oct ........ Nov ....... Dec ........ 2008: Jan ........ Feb ........ Mar ....... Apr r ....... May r ...... June r ..... July r ...... Aug r ...... Sept r ..... Oct p ....... 1 With mstockstill on PROD1PC66 with ECOIND 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 10,269.8 10,993.9 11,663.2 11,821.0 11,871.3 11,924.0 11,930.0 11,952.4 11,999.0 12,003.1 12,219.8 12,233.6 12,133.8 12,164.3 12,172.3 12,214.7 5,020.1 5,352.0 5,782.7 5,942.1 6,091.2 6,310.4 6,671.4 7,025.8 7,432.6 7,818.6 7,903.9 7,945.2 7,973.9 7,984.6 8,005.2 8,039.4 8,018.1 8,033.1 8,049.3 8,067.9 8,091.8 8,088.3 8,099.2 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 5,671.7 6,027.2 6,362.0 6,434.0 6,469.4 6,493.1 6,495.4 6,513.0 6,545.7 6,519.1 6,530.9 6,543.8 6,559.4 6,580.7 6,576.7 6,585.1 836.7 885.7 953.4 999.3 1,110.3 1,197.7 1,276.9 1,354.1 1,405.3 1,456.6 1,469.9 1,475.7 1,480.8 1,489.3 1,492.3 1,493.7 1,498.9 1,502.1 1,505.5 1,508.5 1,511.1 1,511.6 1,514.1 Farm 29.4 28.6 22.7 19.7 10.6 29.2 37.3 34.1 16.2 44.0 47.0 47.1 47.3 41.7 42.1 41.0 39.4 38.4 36.1 34.9 32.4 29.8 22.9 Nonfarm Personal income receipts on assets Rental income of persons 2 598.4 649.7 705.7 752.2 757.8 782.1 874.3 925.7 998.6 1,012.2 1,021.0 1,032.0 1,027.0 1,032.8 1,027.0 1,030.4 1,031.9 1,037.7 1,047.4 1,055.0 1,047.0 1,042.7 1,051.4 137.5 147.3 150.3 167.4 152.9 133.0 118.4 40.9 44.3 40.0 39.9 38.8 37.2 38.1 38.8 40.5 49.1 58.3 68.3 70.1 71.9 47.3 77.9 Total 1,283.2 1,264.2 1,387.0 1,380.0 1,333.2 1,336.6 1,432.1 1,596.9 1,824.8 2,000.1 2,052.9 2,056.3 2,059.4 2,056.4 2,054.2 2,051.7 2,051.8 2,052.3 2,052.8 2,054.7 2,056.7 2,058.9 2,066.3 Personal interest income Personal dividend income 933.2 928.6 1,011.0 1,011.0 936.1 914.1 895.1 1,022.0 1,125.4 1,214.3 1,246.0 1,242.9 1,239.4 1,232.0 1,224.6 1,217.2 1,213.0 1,208.7 1,204.5 1,211.5 1,218.5 1,225.5 1,228.4 349.9 335.6 376.1 369.0 397.2 422.6 537.0 574.9 699.4 785.8 807.0 813.4 820.0 824.4 829.6 834.5 838.8 843.6 848.3 843.2 838.2 833.4 837.9 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 1,603.0 1,713.3 1,728.1 1,727.9 1,757.3 1,766.3 1,776.6 1,791.3 1,807.5 1,995.3 1,976.0 1,848.9 1,864.3 1,903.9 1,896.2 Less: Contributions for government social insurance 624.2 661.4 702.7 731.1 750.0 778.6 828.8 874.3 925.5 965.1 971.8 975.9 978.1 989.8 991.5 995.3 994.5 995.4 996.3 997.7 999.8 998.7 999.0 NOTE.—Revisions include changes to series affected by revised wage and salary estimates for 2008:II. Source: Department of Commerce, Bureau of Economic Analysis. inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. 3 Consists 5 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 fell at an annual rate of 10.1 percent in the third quarter of 2008. Personal income Period Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays 1 Disposable personal income in billions of chained (2000) dollars Equals: Personal saving Per capita disposable personal income Current dollars Billions of dollars 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ............ 7,423.0 ............ 7,802.4 ............ 8,429.7 ............ 8,724.1 ............ 8,881.9 ............ 9,163.6 ............ 9,727.2 ............ 10,269.8 ............ 10,993.9 ............ 11,663.2 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 1,207.8 9,062.0 9,029.5 1,353.2 9,640.7 9,570.0 1,492.8 10,170.5 10,113.1 276.8 158.6 168.5 132.3 184.7 174.9 181.7 32.5 70.7 57.4 6,663.9 6,861.3 7,194.0 7,333.3 7,562.2 7,729.9 8,008.9 8,121.4 8,407.0 8,644.0 23,161 23,968 25,472 26,235 27,167 28,053 29,563 30,576 32,222 33,667 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 27,403 28,098 28,614 21,291 22,491 23,862 24,722 25,504 26,476 27,911 29,335 30,773 32,144 22,183 23,050 23,862 24,215 24,632 25,073 25,750 26,290 26,835 27,319 4.6 1.8 3.7 .9 2.1 1.3 2.7 .5 2.5 1.8 4.3 2.4 2.3 1.8 2.4 2.1 2.1 .4 .7 .6 276,154 279,328 282,433 285,372 288,215 290,964 293,644 296,373 299,199 302,087 27,292 27,401 27,245 27,673 27,958 27,983 28,064 28,387 28,630 28,523 28,669 28,636 28,525 29,196 28,428 28,716 29,093 29,628 29,899 30,279 30,665 30,990 31,154 31,644 32,014 32,288 32,625 32,917 33,291 33,309 26,063 26,241 26,416 26,440 26,660 26,783 26,860 27,035 27,233 27,306 27,371 27,366 27,367 27,391 27,061 ¥5.5 1.6 ¥2.3 6.4 4.2 .4 1.2 4.7 3.5 ¥1.5 2.1 ¥.5 ¥1.5 9.7 ¥10.1 .8 .5 ¥.7 .8 1.0 .6 .5 .9 1.1 .3 .5 .4 .2 2.5 1.1 295,342 295,969 296,719 297,462 298,101 298,774 299,568 300,351 301,004 301,667 302,452 303,225 303,868 304,528 305,313 2005: I ....... II ..... III .... IV .... 2006: I ....... II ..... III .... IV .... 2007: I ....... II ..... III .... IV .... 2008: I ....... II r .... III r .. 10,044.5 10,184.4 10,289.1 10,561.0 10,781.6 10,913.2 11,056.1 11,224.7 11,473.0 11,577.5 11,730.4 11,872.1 11,960.5 12,152.2 12,156.8 1,163.8 1,192.7 1,222.3 1,252.5 1,316.0 1,341.1 1,356.2 1,399.6 1,459.5 1,489.4 1,501.6 1,520.5 1,535.0 1,346.1 1,473.5 8,880.7 8,991.7 9,066.9 9,308.6 9,465.6 9,572.1 9,699.9 9,825.1 10,013.5 10,088.0 10,228.8 10,351.5 10,425.5 10,806.0 10,683.3 8,808.1 8,945.9 9,129.8 9,234.2 9,371.2 9,518.0 9,651.8 9,739.0 9,904.2 10,056.9 10,182.0 10,309.2 10,404.9 10,538.2 10,567.6 72.5 45.8 ¥62.9 74.4 94.4 54.2 48.1 86.1 109.3 31.1 46.8 42.4 20.6 267.9 115.7 8,060.4 8,110.0 8,084.0 8,231.8 8,334.2 8,360.4 8,407.1 8,526.2 8,617.7 8,604.5 8,671.1 8,683.1 8,667.9 8,891.0 8,679.5 1 Includes personal consumption expenditures, personal interest payments (nonmortgage), and personal current transfer payments. 2 Annual data are averages of quarterly data, which are averages for the period. 30,069 30,381 30,557 31,293 31,753 32,038 32,380 32,712 33,267 33,441 33,820 34,138 34,309 35,485 34,991 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2008:II. Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 mstockstill on PROD1PC66 with ECOIND Seasonally adjusted annual rates FARM INCOME According to the revised forecast for 2008, gross farm income is forecast at $379.4 billion, and net farm income at $86.9 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Income of farm operators from farming Gross farm income Cash marketing receipts Total 1 Total mstockstill on PROD1PC66 with ECOIND 1999 ................................ 2000 ................................ 2001 ................................ 2002 ................................ 2003 ................................ 2004 ................................ 2005 ................................ 2006 ................................ 2007 ................................ 2008 r ............................... 2006: I .......................... II ......................... III ........................ IV ........................ 2007: I .......................... II ......................... III ........................ IV ........................ 2008: I r ......................... II r ........................ III r ...................... IV r ....................... 234.9 243.6 251.8 232.6 260.0 295.6 301.1 292.4 341.1 379.4 297.7 286.4 285.7 299.8 336.5 335.1 337.1 355.8 420.0 370.2 381.8 345.7 Livestock and products 187.8 192.0 200.0 194.9 215.6 237.2 240.9 240.8 284.8 323.4 232.1 244.3 242.9 244.1 270.8 286.1 287.3 295.1 348.5 322.2 331.9 291.1 95.7 99.6 106.7 94.0 105.6 123.6 124.9 118.2 137.9 143.5 117.6 118.6 118.3 118.3 138.8 139.2 138.0 135.6 149.6 143.7 145.6 135.3 1 Cash marketing receipts, Government payments, value of changes in inventories, other farm related cash income, and nonmoney income produced by farms including imputed rent of operator residences. 2 Crop receipts include proceeds received from commodities placed under Commodity Credit Corporation loans. 3 Physical changes in beginning and ending year inventories of crop and livestock commodities valued at weighted average market prices during the period. Value of inventory changes 3 Crops 2 92.1 92.4 93.3 101.0 110.0 113.6 116.0 122.6 147.0 179.9 114.5 125.7 124.5 125.7 132.0 147.0 149.2 159.6 198.9 178.5 186.3 155.9 Direct Government payments 4 ¥0.2 1.6 1.1 ¥3.4 ¥2.4 11.2 .5 ¥3.0 3.7 .5 ¥2.9 ¥3.1 ¥3.1 ¥3.1 3.6 3.8 3.8 3.9 .6 .5 .5 .5 Production expenses 21.5 23.2 22.4 12.4 16.5 13.0 24.4 15.8 11.9 12.5 31.1 5.8 6.7 19.5 23.5 4.4 5.1 14.7 24.6 4.6 5.3 15.4 187.2 193.1 196.9 193.1 199.6 209.8 221.8 233.9 254.4 292.5 225.4 237.2 235.8 237.0 241.9 255.5 256.5 263.6 315.2 291.4 300.2 263.3 Net farm income 47.7 50.6 54.9 39.6 60.5 85.8 79.3 58.5 86.8 86.9 72.3 49.2 49.8 62.8 94.6 79.6 80.6 92.3 104.8 78.7 81.6 82.4 4 Includes only Government payments made directly to farmers. NOTE.—Data for 2008 are forecasts. Source: Department of Agriculture. 7 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00007 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.007 ECOIND g:\graphics\eecoind.007 Period CORPORATE PROFITS In the third quarter of 2008, according to current estimates, corporate profits before tax fell $50.7 billion (annual rate) and profits after tax fell $40.8 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 mstockstill on PROD1PC66 with ECOIND Total Financial Total 3 469.6 1998 .............................. 738.5 635.5 165.9 1998 4 ............................ 1999 .............................. 2000 .............................. 2001 .............................. 2002 .............................. 2003 .............................. 2004 .............................. 2005 ............................... 2006 ............................... 2007 ............................... 2005: I .......................... II ........................ III ....................... IV ....................... 2006: I .......................... II ........................ III ....................... IV ....................... 2007: I .......................... II ........................ III ....................... IV ....................... 2008: I .......................... II ....................... III p .................... 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,582.8 1,834.2 1,835.1 1,555.3 1,594.0 1,497.1 1,684.6 1,778.7 1,841.6 1,887.2 1,829.3 1,794.7 1,859.5 1,866.1 1,820.2 1,641.5 1,596.0 1,606.9 635.5 655.3 613.6 549.5 610.4 729.0 968.2 1,343.3 1,566.7 1,490.5 1,321.2 1,360.8 1,244.2 1,447.2 1,528.3 1,571.9 1,626.7 1,540.0 1,496.6 1,556.7 1,509.7 1,398.9 1,243.1 1,222.5 1,234.3 165.4 194.3 200.2 227.6 276.4 317.3 348.9 425.3 478.8 449.9 470.0 437.3 362.3 431.4 470.0 493.1 473.3 478.8 454.1 492.7 460.3 392.4 412.8 383.2 322.7 1 See Manufacturing Utilities Wholesale 173.5 ................ 73.4 718.3 248.3 470.0 351.6 118.3 20.2 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,620.6 1,873.7 1,886.3 1,600.7 1,612.0 1,536.3 1,733.3 1,813.8 1,900.1 1,929.9 1,851.1 1,838.9 1,914.8 1,897.1 1,894.3 1,750.9 1,750.0 1,699.3 248.3 258.6 265.2 204.1 192.6 243.3 307.4 413.7 468.9 450.4 407.2 412.0 386.4 449.2 453.8 474.8 487.2 459.8 448.5 468.5 451.1 433.5 402.9 406.8 396.9 470.0 517.2 508.2 503.8 575.8 664.8 897.3 1,206.9 1,404.8 1,435.9 1,193.5 1,200.1 1,149.9 1,284.1 1,359.9 1,425.2 1,442.6 1,391.4 1,390.4 1,446.3 1,446.1 1,460.9 1,348.0 1,343.2 1,302.4 351.6 337.4 377.9 370.9 399.2 424.7 539.5 577.4 702.1 788.7 553.0 561.6 581.4 613.4 652.8 688.8 720.9 745.8 761.5 779.2 797.6 816.4 832.5 846.4 841.4 118.3 179.9 130.3 132.9 176.6 240.1 357.8 629.5 702.7 647.3 640.6 638.5 568.4 670.6 707.1 736.4 721.7 645.6 629.0 667.1 648.5 644.5 515.5 496.7 461.0 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥37.8 ¥39.5 ¥51.2 ¥45.4 ¥18.0 ¥39.1 ¥48.7 ¥35.0 ¥58.5 ¥42.7 ¥21.8 ¥44.2 ¥55.3 ¥31.0 ¥74.1 ¥109.4 ¥154.0 ¥92.4 p. 4 for profits with inventory valuation and capital consumption adjustments. rest of the world, not shown separately. industries not shown separately. 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 21:12 Dec 12, 2008 Jkt 045798 Net dividends 470.1 157.0 32.7 53.2 66.4 461.1 150.6 33.1 55.5 65.2 413.4 144.3 24.4 59.7 59.6 322.0 52.6 24.7 52.1 71.0 334.0 48.2 10.6 49.3 79.4 411.8 76.0 11.6 55.2 86.8 619.3 152.7 18.6 79.2 91.1 918.1 243.8 28.9 97.3 120.4 1,087.9 304.3 55.6 107.5 132.3 1,040.6 316.6 58.5 102.6 132.3 851.1 242.7 27.1 90.4 102.3 923.4 239.3 28.4 109.5 126.7 881.9 241.6 21.7 85.5 114.8 1,015.8 251.6 38.2 103.8 137.8 1,058.3 279.2 44.9 102.3 133.5 1,078.8 305.8 53.5 94.5 126.0 1,153.4 333.5 62.5 128.3 132.1 1,061.2 298.9 61.4 104.9 137.5 1,042.5 317.0 57.2 108.2 132.8 1,064.0 350.8 54.7 112.7 145.9 1,049.3 306.6 58.7 109.1 126.0 1,006.5 292.1 63.2 80.2 124.5 830.2 240.5 46.2 49.2 112.0 839.3 214.9 56.7 59.4 92.7 911.6 ................ ................ .............. .............. 2 Includes 52.3 Retail Total Inventory Undisvalutributed ation adprofits justment 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 third quarter of 2008, according to revised estimates, nonresidential fixed investment in chained (2000) dollars fell $5.3 billion (annual rate) and residential investment fell $17.5 billion. There was a decrease of $29.1 billion in inventories following a decrease of $50.6 billion in the second quarter. [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment Period mstockstill on PROD1PC66 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 1,873.5 1,912.5 1,809.7 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,829.8 1,865.5 1,808.5 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 294.5 293.2 313.2 306.1 253.8 243.5 246.7 249.8 270.3 304.6 745.6 840.2 918.9 874.2 820.2 843.1 905.1 989.6 1,061.0 1,078.9 418.3 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 72.6 68.9 56.5 ¥31.7 12.5 14.3 54.3 38.9 42.3 ¥2.5 71.2 71.5 57.8 ¥31.8 15.2 14.0 48.2 39.1 46.3 ¥3.7 2005: I ............................................................................. II ........................................................................... III .......................................................................... IV .......................................................................... 1,869.1 1,844.8 1,862.8 1,917.3 1,790.5 1,823.5 1,847.2 1,858.0 1,200.4 1,219.0 1,237.1 1,248.2 253.1 252.3 246.2 247.4 956.6 977.9 1,006.5 1,017.4 582.1 595.8 601.7 602.0 74.6 16.7 11.0 53.5 79.5 17.4 6.2 53.2 2006: I ............................................................................. II ........................................................................... III ......................................................................... IV .......................................................................... 1,946.3 1,944.3 1,917.8 1,841.6 1,895.2 1,883.1 1,860.0 1,823.7 1,295.2 1,315.4 1,332.7 1,329.3 256.5 268.3 277.4 279.1 1,056.6 1,061.2 1,066.4 1,059.9 596.5 570.1 536.7 508.4 45.9 56.9 53.3 13.1 45.4 63.3 59.9 16.4 2007: I ............................................................................. II ........................................................................... III .......................................................................... IV .......................................................................... 2008: I ............................................................................. II ........................................................................... III r ........................................................................ 1,795.9 1,822.9 1,838.7 1,781.3 1,754.7 1,702.0 1,703.9 1,807.8 1,821.3 1,817.0 1,788.2 1,762.4 1,754.9 1,730.0 1,340.4 1,373.8 1,402.9 1,414.7 1,423.1 1,431.8 1,426.5 286.6 298.9 313.2 319.7 326.4 340.5 346.0 1,060.0 1,077.9 1,087.5 1,090.1 1,088.6 1,074.7 1,059.2 486.4 471.7 445.3 411.6 383.0 369.6 352.1 ¥15.0 ¥2.8 16.0 ¥8.1 ¥10.2 ¥50.6 ¥29.1 ¥10.7 ¥2.6 19.2 ¥20.6 ¥17.9 ¥55.1 ¥29.5 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 21:12 Dec 12, 2008 Jkt 045798 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 2005: 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 ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... I ...................... II ..................... III ................... IV .................... 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,829.8 1,865.5 1,808.5 1,790.5 1,823.5 1,847.2 1,858.0 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,200.4 1,219.0 1,237.1 1,248.2 294.5 293.2 313.2 306.1 253.8 243.5 246.7 249.8 270.3 304.6 253.1 252.3 246.2 247.4 745.6 840.2 918.9 874.2 820.2 843.1 905.1 989.6 1,061.0 1,078.9 956.6 977.9 1,006.5 1,017.4 328.9 398.5 467.6 459.0 437.4 462.7 505.7 546.7 596.6 653.9 529.5 540.3 552.7 564.3 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 129.4 157.2 176.2 173.8 169.7 177.3 193.6 207.0 215.5 237.0 201.5 206.8 208.2 211.4 143.2 158.0 190.0 181.7 161.1 167.1 181.1 191.6 206.7 218.0 187.9 188.4 195.3 194.9 148.1 147.9 159.2 145.7 134.5 138.4 134.0 145.3 153.5 155.7 142.0 140.9 146.3 152.0 145.4 167.7 160.8 142.8 126.0 113.8 130.6 149.5 159.5 139.4 142.1 148.5 157.2 150.3 125.7 126.7 131.2 126.9 122.9 130.4 138.3 150.4 156.5 148.4 145.6 150.5 151.7 153.7 418.3 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 582.1 595.8 601.7 602.0 411.9 436.6 439.5 441.1 462.2 501.2 551.2 586.0 543.5 444.9 572.9 586.4 592.3 592.4 218.1 234.2 236.8 237.1 246.3 272.6 305.3 325.9 294.9 214.1 318.8 323.5 327.6 333.7 6.4 7.0 7.4 7.4 7.7 8.1 9.0 9.3 9.6 9.5 9.1 9.3 9.2 9.5 2006: I ...................... II ..................... III ................... IV .................... 1,895.2 1,883.1 1,860.0 1,823.7 1,295.2 1,315.4 1,332.7 1,329.3 256.5 268.3 277.4 279.1 1,056.6 1,061.2 1,066.4 1,059.9 586.2 590.9 603.9 605.3 ............. ............. ............. ............. 212.5 213.2 215.8 220.5 207.6 205.1 209.4 204.8 149.9 157.2 153.8 153.2 165.3 157.9 159.7 155.2 158.2 158.7 155.2 153.8 596.5 570.1 536.7 508.4 586.8 560.6 527.4 499.3 333.1 308.7 282.7 255.2 9.7 9.7 9.6 9.4 2007: I ...................... II ..................... III ................... IV .................... 1,807.8 1,821.3 1,817.0 1,788.2 1,340.4 1,373.8 1,402.9 1,414.7 286.6 298.9 313.2 319.7 1,060.0 1,077.9 1,087.5 1,090.1 629.9 647.3 660.9 677.6 ............. ............. ............. ............. 227.9 235.7 239.4 245.1 212.5 216.2 219.6 223.5 150.3 160.3 159.1 153.1 149.0 139.4 137.4 131.9 145.3 147.5 149.2 151.5 486.4 471.7 445.3 411.6 477.3 462.8 436.5 403.0 235.6 227.3 210.3 182.9 9.5 9.5 9.5 9.4 2008: I ...................... II ..................... III r .................. 1,762.4 1,754.9 1,730.0 1,423.1 1,431.8 1,426.5 326.4 340.5 346.0 1,088.6 1,074.7 1,059.2 689.6 702.9 701.8 ............. ............. ............. 251.0 252.3 253.3 223.6 230.6 233.7 153.4 152.0 148.6 127.0 108.6 93.4 146.5 145.3 151.7 383.0 369.6 352.1 374.6 361.1 344.0 156.7 142.9 129.5 9.3 9.5 9.0 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 mstockstill on PROD1PC66 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In November, employment fell by 673,000 and unemployment rose by 251,000. [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: Nov ............ Dec ............ 2008: Jan 2 .......... Feb ............ Mar ............ Apr ............. May ............ June ........... July ............ Aug ............ Sept ........... Oct ............. Nov ............ Civilian noninstitutional population (NSA) Civilian labor force 205,220 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 231,867 232,939 233,156 232,616 232,809 232,995 233,198 233,405 233,627 233,864 234,107 234,360 234,612 234,828 137,673 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 153,124 153,828 153,866 153,824 153,374 153,784 153,957 154,534 154,390 154,603 154,853 154,732 155,038 154,616 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years Total 131,463 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 146,047 146,647 146,211 146,248 145,993 145,969 146,331 146,046 145,891 145,819 145,477 145,255 144,958 144,285 67,135 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 75,337 75,834 75,499 75,427 75,362 75,197 75,148 75,001 74,998 75,094 74,866 74,631 74,441 74,138 57,278 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,799 65,980 64,912 65,098 64,950 65,055 65,260 65,138 65,238 65,167 65,047 65,072 65,090 64,935 7,051 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 5,911 5,832 5,801 5,724 5,681 5,717 5,923 5,907 5,655 5,558 5,563 5,552 5,427 5,212 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 7,181 7,655 7,576 7,381 7,815 7,626 8,487 8,499 8,784 9,376 9,477 10,080 10,331 1 Civilian labor force (or employment) as percent of civilian noninstitutional population; and unemployment as percent of civilian labor force. 2 Not strictly comparable with earlier data. NOTE.—Beginning January 2008 data reflect revised population controls and are not strictly comparable with earlier data. Men 20 years and over 2,580 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,259 3,240 3,505 3,437 3,386 3,641 3,628 3,877 4,038 4,234 4,452 4,813 5,010 5,178 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 2,796 2,954 2,885 2,865 3,104 2,916 3,252 3,208 3,135 3,625 3,351 3,666 3,815 1,205 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,101 1,145 1,196 1,254 1,130 1,070 1,082 1,358 1,253 1,415 1,299 1,313 1,404 1,338 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 66.0 66.1 65.9 66.0 66.0 66.2 66.1 66.1 66.1 66.0 66.1 65.8 64.1 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.0 63.0 62.7 62.9 62.7 62.6 62.7 62.6 62.4 62.4 62.1 62.0 61.8 61.4 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.7 5.0 4.9 4.8 5.1 5.0 5.5 5.5 5.7 6.1 6.1 6.5 6.7 67,547 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 78,743 79,111 79,290 78,792 79,436 79,211 79,241 78,871 79,237 79,261 79,253 79,628 79,575 80,212 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 mstockstill on PROD1PC66 with ECOIND Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In November, the unemployment rate rose to 6.7 percent from 6.5 percent in October. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 mstockstill on PROD1PC66 with ECOIND Period All civilian workers 1998 ......................... 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2007 ......................... 2007: Nov .............. Dec ............... 2008: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. July ............... Aug ............... Sept .............. Oct ................ Nov ............... Men 20 years and over Women 20 years and over 3.7 3.5 3.3 4.2 5.3 5.6 5.0 4.4 4.0 4.1 4.1 4.4 4.4 4.3 4.6 4.6 4.9 5.1 5.3 5.6 6.1 6.3 6.5 4.1 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.0 4.1 4.4 4.2 4.2 4.6 4.3 4.8 4.7 4.6 5.3 4.9 5.3 5.5 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.7 5.0 4.9 4.8 5.1 5.0 5.5 5.5 5.7 6.1 6.1 6.5 6.7 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 16.4 17.1 18.0 16.6 15.8 15.4 18.7 18.1 20.3 18.9 19.1 20.6 20.4 White 3.9 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 4.2 4.4 4.4 4.3 4.5 4.4 4.9 4.9 5.1 5.4 5.4 5.9 6.1 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 9.0 9.2 8.3 9.0 8.6 9.7 9.2 9.7 10.6 11.4 11.1 11.2 .......... .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.2 3.6 3.7 3.2 3.0 3.6 3.2 3.8 4.5 4.0 4.4 3.8 3.8 4.8 7.2 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.6 5.7 6.3 6.3 6.2 6.9 6.9 6.9 7.7 7.4 8.0 7.8 8.8 8.6 Married men, spouse present 21:12 Dec 12, 2008 Jkt 045798 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 6.6 6.9 7.0 6.7 7.1 6.8 6.9 7.9 8.5 9.6 8.2 8.8 9.3 4.3 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.6 4.6 4.9 4.8 4.8 5.0 5.0 5.5 5.5 5.7 6.2 6.2 6.7 6.9 5.3 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 4.9 5.0 5.6 5.4 5.0 5.3 4.9 5.5 5.4 5.5 5.7 5.9 5.7 5.8 2.4 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 2.6 2.7 2.7 2.7 2.8 2.8 2.9 3.0 3.2 3.5 3.8 4.1 4.1 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 November, the percentages of the unemployed who had been out of work for less than 5 weeks and for 5–14 weeks rose; the percentages for 15–26 weeks and for 27 weeks and over fell. The mean duration of unemployment fell to 18.8 weeks and the median duration fell to 10.0 weeks. [Monthly data seasonally adjusted, except as noted] Duration of unemployment Period Unemployment (thousands) Percent distribution Less than 5 weeks 5–14 weeks 15–26 weeks Reason for unemployment: percent distribution State programs Number of weeks 27 weeks and over Average (mean) Median Job losers 1 Job leavers Reentrants New entrants Insured unemployment Initial claims Insured unemployment, all regular programs (unadjusted) 2 1998 ........................................ 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2007 ........................................ 2007: Nov .............................. Dec .............................. 2008: Jan .............................. Feb .............................. Mar .............................. Apr ............................... May .............................. June ............................. July .............................. Aug .............................. Sept ............................. Oct ............................... Nov .............................. 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 7,181 7,655 7,576 7,381 7,815 7,626 8,487 8,499 8,784 9,376 9,477 10,080 10,331 42.2 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 35.9 36.6 36.5 35.0 35.6 36.0 32.7 38.2 31.4 32.3 34.2 30.0 30.3 31.5 31.4 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 31.5 30.0 30.5 31.8 32.3 32.8 32.8 29.1 34.8 32.2 29.8 32.1 29.6 30.0 12.3 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 15.0 14.1 15.5 14.9 14.6 14.5 16.7 14.4 15.4 16.4 16.5 16.8 17.8 17.1 14.1 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 17.6 19.3 17.5 18.3 17.5 16.7 17.8 18.3 18.4 19.1 19.5 21.1 22.3 21.4 1 Beginning January 1994, job losers and persons who completed temporary jobs. 2 Includes State (50 States, District of Columbia, Puerto Rico, and Virgin Islands), ex-servicemen (UCX), and Federal (UCFE). Also includes Federal and State extended benefit programs. Does not include Railroad (RR) program, Federal supplemental compensation or Emergency Unemployment Compensation programs. 14.5 13.4 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.8 17.2 16.6 17.5 16.8 16.2 16.9 16.6 17.5 17.1 17.4 18.4 19.7 18.8 6.7 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.5 8.7 8.4 8.8 8.4 8.1 9.3 8.3 10.0 9.7 9.2 10.2 10.6 10.0 45.5 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 49.7 50.0 50.1 50.7 52.2 53.7 52.7 50.7 51.7 50.2 51.9 54.3 56.6 58.4 11.8 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.2 10.8 10.4 11.1 10.4 10.1 11.2 10.3 9.9 9.8 10.7 10.2 9.3 9.0 34.3 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.3 29.9 30.4 29.4 28.6 27.4 28.0 29.1 29.6 30.8 28.5 26.8 25.9 25.3 8.4 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 8.9 9.3 9.1 8.9 8.8 8.8 8.2 9.8 8.9 9.2 8.8 8.6 8.2 7.3 2,222 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,571 2,620 2,696 2,718 2,776 2,910 3,012 3,096 3,126 3,233 3,429 3,581 3,787 .............. 321 298 301 404 407 404 345 328 313 324 339 344 337 346 374 365 369 389 406 440 475 478 p 525 2,257 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,609 2,273 3,071 3,270 3,256 3,553 3,037 2,667 3,108 r 3,006 r 3,179 r 3,160 2,978 ................. NOTE.—Data relate to persons age 16 years and over (except for insured unemployment and initial claims). Source: Department of Labor (Bureau of Labor Statistics and Employment and Training Administration). 13 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 mstockstill on PROD1PC66 with ECOIND Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey fell by 533,000 in November. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries Period .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Nov ........ Dec ......... 2008: Jan ......... Feb ........ Mar ........ Apr ......... May ........ June ....... July ........ Aug ........ Sept r ...... Oct r ........ Nov p ....... mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2007: 125,930 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,086 137,623 138,037 138,078 138,002 137,919 137,831 137,764 137,717 137,617 137,550 137,423 137,020 136,700 136,167 Total 2 Construction 24,354 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,531 22,221 22,049 21,976 21,907 21,816 21,737 21,628 21,577 21,491 21,437 21,367 21,250 21,083 20,920 6,149 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,691 7,614 7,520 7,465 7,426 7,382 7,343 7,284 7,246 7,196 7,173 7,153 7,098 7,034 6,952 Manufacturing 17,560 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,155 13,884 13,794 13,772 13,737 13,690 13,644 13,592 13,571 13,527 13,487 13,426 13,357 13,253 13,168 Service-providing industries Trade, transportation, and utilities Total 101,576 104,528 107,136 107,952 107,784 108,183 109,553 111,513 113,556 115,402 115,988 116,102 116,095 116,103 116,094 116,136 116,140 116,126 116,113 116,056 115,770 115,617 115,247 Total 3 Retail trade 25,186 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,276 26,608 26,693 26,658 26,631 26,579 26,552 26,496 26,451 26,431 26,393 26,346 26,225 26,124 25,977 14,609 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,353 15,491 15,513 15,488 15,472 15,429 15,401 15,356 15,332 15,324 15,302 15,275 15,199 15,137 15,046 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 3,022 3,018 3,014 3,016 3,013 3,007 3,002 2,997 2,988 2,984 2,978 2,972 2,953 Financial activities 7,462 7,648 7,687 7,808 7,847 7,977 8,031 8,153 8,328 8,308 8,260 8,252 8,244 8,231 8,231 8,229 8,226 8,213 8,206 8,196 8,173 8,142 8,110 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 18,079 18,131 18,101 18,073 18,014 18,031 17,982 17,927 17,904 17,854 17,789 17,726 17,590 14,446 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,826 18,327 18,522 18,568 18,617 18,665 18,709 18,757 18,820 18,891 18,935 18,997 18,993 19,021 19,073 21:12 Dec 12, 2008 Jkt 045798 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 5,506 5,507 5,508 5,517 5,522 5,525 5,527 5,525 5,530 5,526 5,530 5,533 5,514 19,909 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,974 22,203 22,278 22,333 22,336 22,362 22,377 22,401 22,453 22,463 22,502 22,514 22,495 22,537 22,544 Federal 2,772 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,732 2,727 2,728 2,735 2,717 2,725 2,726 2,734 2,740 2,744 2,750 2,748 2,750 2,769 2,769 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 13,628 13,635 13,644 13,660 13,676 13,690 13,679 13,679 13,655 13,639 13,587 13,562 13,486 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: ..................... ..................... .................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... Oct ............ Nov ........... Dec ........... 2008: Jan ........... Feb ........... Mar ........... Apr ........... May ........... June .......... July ........... Aug ........... Sept r ......... Oct r ........... Nov 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 33.8 33.7 33.7 33.8 33.8 33.7 33.7 33.7 33.7 33.6 33.6 33.5 Total 41.4 41.4 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.2 41.2 41.3 41.1 41.1 41.1 41.2 41.0 41.0 41.0 41.0 40.9 40.5 40.5 40.3 Average gross weekly earnings Total private nonagricultural 1 Current dollars Overtime 4.9 4.9 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.2 4.1 4.1 4.0 4.0 4.0 4.0 4.0 3.9 3.8 3.8 3.7 3.5 3.5 3.3 $13.01 13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 17.42 17.59 17.64 17.70 17.75 17.81 17.87 17.89 17.95 18.00 18.06 18.14 18.17 18.23 18.30 1982 dollars 2 $7.89 8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.32 8.34 8.27 8.27 8.26 8.29 8.28 8.27 8.24 8.17 8.12 8.17 8.19 8.32 .............. 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 17.34 17.40 17.41 17.49 17.55 17.61 17.62 17.65 17.71 17.78 17.76 17.79 17.86 17.92 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 $448.56 463.15 481.01 493.79 506.75 518.06 529.09 544.33 567.87 589.72 594.54 596.23 598.26 598.18 600.20 604.01 604.68 604.92 606.60 608.62 611.32 610.51 612.53 613.05 $272.18 275.03 275.97 275.71 279.20 279.13 277.88 276.17 279.19 281.82 281.72 279.67 279.53 278.27 279.21 279.96 279.62 277.75 275.18 273.66 275.35 275.23 279.50 .............. $557.09 573.25 590.77 595.19 618.75 635.99 658.49 673.33 691.02 711.36 714.41 718.62 715.55 718.84 721.31 725.53 722.42 723.65 726.11 728.98 726.38 720.50 723.33 722.18 $629.75 655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.21 816.06 821.73 828.92 830.70 829.54 830.89 838.68 840.24 835.45 842.50 845.21 851.79 848.26 844.98 839.54 $310.34 321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.02 385.20 387.09 386.86 385.58 386.56 386.48 388.37 388.07 388.29 388.29 387.00 387.90 389.19 386.01 386.21 Current dollars 3.9 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 3.8 3.5 3.8 3.4 3.4 3.7 3.3 3.5 3.2 2.8 3.1 3.3 2.8 3.0 2.8 1982 dollars 2.5 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 .9 ¥.3 ¥.8 ¥1.0 ¥1.4 ¥.8 ¥.9 ¥.7 ¥1.1 ¥2.5 ¥2.8 ¥2.5 ¥2.5 ¥.8 .............. Source: Department of Labor, Bureau of Labor Statistics. EMPLOYMENT COST INDEX—PRIVATE INDUSTRY Index (December 2005 = 100) Percent change from 3 months earlier Period Total compensation Wages and salaries Benefits 1 Total compensation Wages and salaries 12 months earlier Benefits 1 Total compensation Wages and salaries Benefits 1 Not seasonally adjusted 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 mstockstill on PROD1PC66 with ECOIND 2005: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2006: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2007: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2008: Mar ................................................................. June ............................................................... Sept ................................................................ 98.2 98.8 99.5 100.2 100.8 101.6 102.5 103.3 104.0 104.8 105.6 106.5 107.3 107.9 108.6 98.3 98.8 99.4 100.1 100.8 101.6 102.5 103.3 104.3 105.1 105.9 106.7 107.6 108.4 109.0 1 Employer costs for employee benefits. NOTE.—The employment cost index is a measure of the change in the cost of labor, free from the influence of employment shifts among occupations and industries. Data exclude farm and household workers. 98.0 98.8 99.7 100.3 100.8 101.6 102.5 103.4 103.1 104.2 105.0 105.8 106.4 106.9 107.5 0.9 .6 .7 .7 .6 .8 .9 .8 .7 .8 .8 .9 .8 .6 .6 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 .7 .6 1.6 .8 .9 .6 .5 .8 .9 .9 ¥.3 1.1 .8 .8 .6 .5 .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 3.0 2.8 2.7 2.5 2.3 2.5 2.4 2.8 3.0 3.2 3.6 3.3 3.4 3.3 3.2 3.1 2.9 5.5 4.7 4.5 4.0 3.0 2.7 2.8 3.1 2.2 2.6 2.4 2.4 3.2 2.6 2.4 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00015 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.015 ECOIND PRODUCTIVITY AND RELATED DATA, BUSINESS SECTOR Output per hour of all persons Period Business sector Nonfarm business sector Output 1 Business sector Nonfarm business sector Hours of all persons 2 Business sector Compensation per hour 3 Nonfarm business sector Business sector Nonfarm business sector Real compensation per hour 4 Business sector Nonfarm business sector Unit labor costs Business sector Nonfarm business sector Implicit price deflator 5 Business sector Nonfarm business sector Indexes, 1992=100; quarterly data seasonally adjusted 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2005: ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ...................... I ................... II ................. III ................ IV ................ 2006: I ................... II ................. III ................ IV ................ 2007: I ................... II ................. III ................ IV ................ 2008: I .................. II r ................ III r* ............. 109.5 112.8 116.1 119.1 123.9 128.7 132.4 134.8 136.1 138.2 134.3 134.2 135.6 135.3 136.1 136.6 135.9 135.9 135.9 137.6 139.7 139.7 140.5 141.8 142.3 109.4 112.5 115.7 118.6 123.5 128.0 131.6 133.9 135.2 137.1 133.3 133.4 134.6 134.2 135.1 135.7 135.0 135.0 135.0 136.4 138.3 138.6 139.5 140.8 141.2 128.6 135.2 140.5 141.0 143.1 147.5 153.7 159.1 163.9 167.3 157.1 158.4 160.2 160.6 162.8 164.0 164.1 164.8 164.5 166.8 169.0 168.8 169.1 170.2 169.4 128.9 135.6 140.8 141.3 143.4 147.8 153.9 159.2 164.2 167.5 157.3 158.4 160.3 160.8 163.2 164.3 164.4 165.0 164.7 167.0 169.2 168.9 169.3 170.5 169.7 117.5 119.8 121.0 118.4 115.4 114.6 116.1 118.0 120.4 121.0 117.0 118.0 118.2 118.8 119.6 120.1 120.8 121.2 121.0 121.2 121.0 120.8 120.3 120.0 119.1 117.9 120.5 121.7 119.2 116.1 115.4 117.0 118.9 121.5 122.2 118.0 118.8 119.1 119.8 120.8 121.1 121.8 122.2 122.0 122.4 122.3 121.9 121.4 121.1 120.2 119.9 125.8 134.7 140.3 145.3 151.2 156.9 163.2 169.5 176.5 161.2 161.6 164.1 165.8 168.0 168.1 169.0 172.6 174.7 175.5 177.0 178.9 180.6 181.1 182.9 119.6 125.2 134.2 139.5 144.6 150.4 155.9 162.2 168.4 175.3 160.0 160.8 163.2 164.7 166.8 167.1 167.9 171.7 173.7 174.1 175.5 177.8 179.5 179.9 181.7 105.2 108.1 112.0 113.5 115.7 117.7 119.0 119.7 120.4 121.9 120.1 119.5 119.6 119.6 120.7 119.7 119.1 122.1 122.4 121.6 121.9 121.7 121.5 120.4 119.7 104.9 107.6 111.6 112.8 115.1 117.1 118.2 119.0 119.6 121.1 119.2 118.9 118.9 118.8 119.8 118.9 118.3 121.4 121.8 120.7 120.8 120.9 120.8 119.6 118.9 109.5 111.5 116.0 117.9 117.3 117.5 118.5 121.0 124.5 127.7 120.0 120.4 121.1 122.6 123.5 123.1 124.3 127.0 128.5 127.5 126.7 128.1 128.5 127.7 128.6 109.3 111.3 116.0 117.7 117.1 117.5 118.5 121.1 124.6 127.9 120.0 120.5 121.2 122.7 123.5 123.2 124.4 127.1 128.7 127.7 126.9 128.3 128.7 127.8 128.7 109.7 110.7 112.7 114.9 116.1 117.8 120.8 124.6 128.3 131.4 123.2 123.8 125.0 126.3 127.2 128.0 128.8 129.4 130.7 131.2 131.6 132.2 132.9 133.2 134.7 109.9 111.1 113.3 115.4 116.7 118.3 121.1 125.1 129.1 131.7 123.7 124.3 125.6 126.9 127.9 128.8 129.5 130.0 131.1 131.5 131.8 132.5 133.2 133.5 135.1 3.1 1.8 4.2 1.4 ¥.5 .3 .9 2.2 2.8 2.7 ¥1.0 .5 4.4 4.7 ¥.5 1.6 2.4 4.9 2.6 ¥1.1 4.1 9.1 4.9 ¥3.2 ¥2.4 4.5 1.2 ¥2.6 2.8 0.6 .9 1.8 2.0 1.0 1.5 2.6 3.1 3.0 2.4 3.4 3.6 1.8 3.5 3.6 2.0 4.1 4.1 3.0 2.6 2.4 1.9 4.0 1.7 1.1 2.0 2.0 .9 4.5 0.7 1.1 1.9 1.9 1.1 1.3 2.4 3.4 3.1 2.1 3.4 3.0 2.4 3.8 3.9 2.2 4.3 4.2 3.1 2.9 2.1 1.5 3.4 1.5 .9 2.1 2.1 .9 4.9 Percent change; quarterly data at seasonally adjusted annual rates 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2004: 2005: 2006: 2007: mstockstill on PROD1PC66 with ECOIND 2008: ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II r ................ III r* ............. 2.8 3.1 2.9 2.5 4.1 3.8 2.9 1.8 .9 1.5 2.4 3.7 1.2 2.1 2.8 ¥.3 4.1 ¥1.0 2.6 1.4 ¥2.0 .2 ¥.1 5.0 6.2 .1 2.3 3.7 1.5 2.8 2.9 2.8 2.5 4.1 3.7 2.8 1.8 1.0 1.4 .9 4.5 1.1 .6 3.2 .3 3.7 ¥1.1 2.5 1.8 ¥2.1 .2 .0 4.1 5.8 .8 2.6 3.6 1.3 4.8 5.1 3.9 .3 1.5 3.1 4.2 3.5 3.0 2.0 3.7 4.4 4.0 3.0 3.7 3.2 4.8 1.0 5.6 2.9 .3 1.7 ¥.7 5.6 5.5 ¥.6 .7 2.6 ¥1.7 5.0 5.2 3.8 .4 1.5 3.1 4.1 3.4 3.2 2.0 2.6 5.0 3.8 2.6 3.7 2.9 4.8 1.3 6.0 2.9 .3 1.4 ¥.9 5.8 5.5 ¥.7 .9 2.8 ¥1.9 2.0 2.0 1.0 ¥2.2 ¥2.5 ¥.7 1.3 1.6 2.1 .5 1.2 .7 2.7 .9 .9 3.5 .6 1.9 3.0 1.5 2.4 1.5 ¥.6 .6 ¥.7 ¥.7 ¥1.6 ¥1.0 ¥3.2 2.1 2.2 1.0 ¥2.0 ¥2.6 ¥.6 1.3 1.6 2.2 .5 1.7 .4 2.8 2.1 .5 2.6 1.0 2.5 3.3 1.1 2.4 1.2 ¥.8 1.6 ¥.3 ¥1.6 ¥1.7 ¥.8 ¥3.1 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 3.8 4.2 .6 4.8 5.4 6.4 2.3 1.0 6.5 4.2 5.5 .2 2.0 9.0 4.8 1.9 3.6 4.4 3.6 1.2 4.2 6.0 4.7 7.2 4.0 3.6 4.0 3.6 4.0 3.8 4.1 ¥.1 5.0 5.5 5.3 2.8 1.9 6.2 3.7 5.2 .7 1.9 9.3 4.9 .8 3.3 5.3 3.8 .9 4.1 4.6 2.8 3.6 1.4 1.9 1.8 1.0 .6 .5 1.3 ¥2.7 1.7 2.5 2.2 .6 ¥1.8 .2 .1 3.6 ¥3.3 ¥1.9 10.6 1.1 ¥2.6 .8 ¥.6 ¥.6 ¥3.7 ¥2.4 4.5 2.6 3.7 1.1 2.0 1.8 .9 .7 .5 1.3 ¥3.4 1.8 2.5 1.1 1.0 ¥.9 ¥.1 ¥.3 3.3 ¥2.8 ¥2.0 11.0 1.2 ¥3.6 .5 .3 ¥.4 ¥3.9 ¥2.4 3.2 1.8 4.1 1.6 ¥.5 .2 .9 2.1 2.9 2.6 ¥1.7 1.1 4.1 4.3 ¥.4 1.3 2.3 5.2 2.8 ¥1.2 4.1 8.8 4.8 ¥2.9 ¥2.5 4.3 1.3 ¥2.4 2.6 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 November 25, 2008. Source: Department of Labor, Bureau of Labor Statistics. 16 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 rose in October. [Monthly data seasonally adjusted] Percent Period mstockstill on PROD1PC66 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 98.3 101.4 101.4 92.0 94.7 97.4 97.0 100.0 101.9 103.3 105.5 104.8 108.2 82.8 81.9 81.8 76.3 74.8 76.0 78.0 80.2 80.9 81.0 81.8 80.7 80.1 73.9 72.8 74.0 76.3 78.6 79.4 79.4 2007: Oct .............. Nov ............. Dec ............. 111.8 112.3 112.4 ¥0.4 .4 .1 1.9 2.5 2.0 113.5 113.8 113.8 122.2 122.9 122.8 106.7 106.6 106.8 92.2 91.7 91.9 101.3 102.9 103.9 108.4 109.1 108.2 80.9 81.1 81.0 79.3 79.3 79.2 2008: Jan ............. Feb ............. Mar ............. Apr ............. May r ........... June r .......... July r ........... Aug r ............ Sept r ........... Oct p ............ 112.6 112.3 112.0 111.4 111.2 111.3 111.4 110.1 105.9 107.3 .2 ¥.3 ¥.2 ¥.5 ¥.2 .1 .1 ¥1.2 ¥3.7 1.3 2.5 1.6 1.5 .4 .2 .0 ¥.5 ¥1.7 ¥5.6 ¥4.1 113.8 113.1 113.3 112.3 112.3 112.2 112.1 111.0 106.9 107.5 122.9 122.2 122.4 120.7 120.6 121.0 121.4 119.6 115.9 113.9 106.8 106.0 106.2 106.0 106.2 105.5 105.2 104.6 99.8 102.9 91.3 91.2 91.0 89.1 88.5 88.4 87.3 86.7 86.3 85.9 103.2 103.6 103.9 104.0 104.1 104.2 105.7 105.5 96.5 102.4 110.8 112.6 108.7 110.4 108.0 110.0 109.2 104.7 107.3 107.7 81.0 80.7 80.4 79.9 79.6 79.6 79.6 78.5 75.5 76.4 79.1 78.5 78.5 77.7 77.6 77.4 77.2 76.4 73.5 73.8 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 21:12 Dec 12, 2008 Jkt 045798 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 99.6 101.8 106.4 108.8 106.0 96.2 100.3 104.7 100.5 100.0 101.7 103.9 107.4 108.1 108.7 92.9 98.6 103.9 99.2 100.0 101.3 104.3 106.8 109.2 111.3 100.4 99.9 101.5 100.3 100.0 100.0 99.6 98.4 99.9 101.6 2007: Oct .................................................. Nov .................................................. Dec .................................................. 113.0 113.3 113.5 107.3 107.4 107.4 102.4 102.9 102.7 108.8 108.8 108.8 128.1 128.9 129.8 129.9 130.2 131.2 118.3 120.2 119.9 107.9 107.9 107.6 105.4 104.5 104.2 108.8 109.2 108.9 112.2 113.0 113.1 102.5 103.3 104.1 2008: Jan .................................................. Feb .................................................. Mar ................................................. Apr .................................................. May r ................................................ June r ............................................... July r ................................................ Aug r ................................................ Sept r ................................................ Oct p ................................................. 114.0 113.8 113.2 112.3 112.1 112.6 112.6 111.0 108.2 108.8 108.0 107.9 106.7 106.2 105.8 106.2 106.2 104.1 102.9 104.3 101.1 100.0 97.8 94.5 94.9 96.8 97.6 91.5 90.8 88.9 110.1 110.4 109.5 109.8 109.1 109.1 108.9 108.0 106.7 109.0 130.0 129.5 130.5 129.0 129.3 129.9 129.7 129.7 122.3 120.3 131.4 131.1 132.3 130.0 130.4 130.8 130.8 130.5 121.2 118.5 120.9 119.6 119.6 119.5 119.0 120.2 119.1 119.4 116.9 118.1 107.7 107.2 106.7 106.6 106.1 105.7 105.8 104.8 102.3 102.5 103.6 102.3 102.3 101.4 101.7 101.3 102.1 101.1 99.2 98.1 109.3 109.2 108.5 108.6 107.9 107.5 107.4 106.3 103.6 104.3 113.0 112.6 112.8 112.3 112.2 112.1 112.3 111.1 105.1 107.6 104.2 104.5 104.3 104.1 104.2 104.1 105.1 103.7 96.9 101.9 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metals Period Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 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 ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ 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 77.2 101.3 103.6 100.0 113.8 129.0 143.5 164.6 183.4 49.1 70.0 98.4 101.7 100.0 119.7 136.5 157.2 190.6 224.4 99.2 104.5 99.7 96.2 100.0 101.0 100.7 104.6 104.2 106.2 90.6 100.5 99.9 91.4 100.0 103.5 103.7 103.9 100.2 97.2 162.5 155.6 148.0 126.9 100.0 92.8 79.8 77.0 75.4 75.7 111.5 112.4 113.1 106.3 100.0 96.2 96.9 99.0 99.5 99.8 91.8 93.6 95.0 93.3 100.0 101.3 105.6 109.3 112.6 114.2 95.0 96.0 97.7 97.7 100.0 101.0 101.1 104.2 105.4 110.1 2007: Oct .................................................. Nov .................................................. Dec .................................................. 110.0 111.0 112.9 116.0 118.3 121.6 113.1 113.7 113.1 116.4 115.4 114.6 192.8 196.2 198.1 243.2 247.5 250.6 105.9 106.9 106.6 95.1 95.8 95.5 73.6 73.4 75.1 98.9 99.4 99.0 114.5 114.7 114.6 111.2 111.3 112.0 2008: Jan .................................................. Feb .................................................. Mar ................................................. Apr .................................................. May r ................................................ June r ............................................... July r ................................................ Aug r ................................................ Sept r ................................................ Oct p ................................................. 115.2 114.1 112.3 111.5 109.5 109.9 112.0 109.8 104.4 99.4 121.7 124.6 119.5 118.2 113.8 114.6 119.7 116.1 104.8 94.3 113.4 113.5 113.6 112.4 111.5 110.1 109.7 110.3 109.1 107.5 115.2 114.1 116.0 112.4 112.3 112.2 111.2 113.0 110.3 108.4 198.5 202.2 206.2 208.9 209.5 210.5 211.3 210.4 208.1 207.2 251.6 257.0 264.5 269.5 269.7 271.1 273.2 271.7 269.7 267.3 105.9 104.5 101.6 97.8 97.9 100.7 101.7 95.1 88.2 85.3 93.9 93.0 88.6 83.1 83.4 86.8 89.2 79.4 80.4 77.6 74.2 73.6 72.3 71.7 70.3 71.3 72.4 72.7 71.8 70.5 98.4 97.3 98.4 97.4 97.0 94.2 92.6 94.0 92.9 92.4 114.6 113.6 113.2 113.2 113.4 112.7 112.3 111.2 102.0 107.2 112.2 112.0 113.6 113.1 112.5 112.4 111.8 112.0 111.8 112.7 1 Computers and peripheral equipment, communications equipment, and semiconductors and related electronic components. mstockstill on PROD1PC66 with ECOIND Nondurable manufactures Computer and electronic products Source: Board of Governors of the Federal Reserve System. 18 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 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 .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... 688.5 744.6 802.8 840.2 847.9 891.5 991.6 1,102.7 1,167.6 1,137.2 533.7 575.5 621.4 638.3 634.4 675.4 771.4 868.5 912.2 850.0 296.3 326.3 346.1 364.4 396.7 446.0 532.9 611.9 613.7 492.5 224.0 251.3 265.0 279.4 298.8 345.7 417.5 480.8 468.8 353.4 237.4 249.2 275.3 273.9 237.7 229.3 238.5 256.6 298.4 357.5 14.8 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.6 27.5 40.4 45.1 52.4 49.7 35.3 30.6 32.9 37.3 45.7 53.4 55.7 59.4 64.1 63.6 59.0 57.5 63.2 66.6 73.4 85.0 40.5 35.1 37.6 37.8 22.7 21.4 23.7 29.9 35.1 42.2 86.0 93.7 104.9 108.2 110.2 109.9 106.8 110.2 126.7 149.4 154.8 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.4 287.1 2007: Oct ........................... Nov .......................... Dec .......................... 1,124.2 1,115.3 1,093.5 829.9 816.9 797.5 447.0 428.7 413.9 320.5 305.2 289.2 382.9 388.3 383.7 32.1 32.5 31.2 57.6 57.8 56.1 88.6 89.1 85.1 44.8 47.2 51.2 159.9 161.7 160.0 294.3 298.4 296.0 2008: Jan .......................... Feb .......................... Mar .......................... Apr ........................... May ......................... June ........................ July ......................... Aug r ......................... Sept r ........................ Oct p ......................... 1,085.4 1,075.3 1,090.5 1,085.2 1,088.3 1,086.6 1,060.0 1,085.7 1,085.7 1,072.6 794.6 783.7 789.6 783.7 784.1 780.4 751.5 769.1 771.9 756.5 404.9 392.0 391.6 383.5 371.4 356.4 334.5 352.9 351.2 338.8 277.2 258.8 256.4 247.9 243.9 237.0 232.2 221.6 215.1 207.0 389.7 391.6 398.0 400.2 412.8 424.0 417.0 416.1 420.6 417.7 31.5 32.5 33.7 35.9 37.8 38.9 38.2 39.5 38.8 39.1 58.4 57.0 57.3 57.7 57.8 57.4 58.1 58.2 59.4 60.1 86.7 87.0 86.9 87.5 85.6 84.8 82.9 81.6 77.6 78.5 48.8 49.5 51.1 52.0 63.3 72.4 66.1 65.3 68.3 69.0 164.3 165.7 169.0 167.2 168.2 170.5 171.7 171.5 176.4 171.0 290.8 291.6 300.8 301.5 304.1 306.2 308.5 316.7 313.8 316.1 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 Period Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... New private houses Units started, by type of structure 1,616.9 1,640.9 1,568.7 1,602.7 1,704.9 1,847.7 1,955.8 2,068.3 1,800.9 1,355.0 2–4 units 1 1 unit 1,271.4 1,302.4 1,230.9 1,273.3 1,358.6 1,499.0 1,610.5 1,715.8 1,465.4 1,046.0 5 units or more 42.6 31.9 38.7 36.6 38.5 33.5 42.3 41.1 42.7 31.7 302.9 306.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 277.3 Units authorized 1,612.3 1,663.5 1,592.3 1,636.7 1,747.7 1,889.2 4 2,070.1 2,155.3 1,838.9 1,398.4 Units completed Houses sold Houses for sale at end of period 2 Vacancy rate for rental housing units (percent) 3 1,474.2 1,604.9 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 1,502.8 886 880 877 908 973 1,086 1,203 1,283 1,051 776 294 308 298 308 339 370 422 511 536 494 7.9 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 9.8 Seasonally adjusted annual rates 2007: Oct ............................. Nov ............................ Dec ........................... 1,275 1,179 1,000 884 816 779 40 21 10 351 342 211 1,182 1,187 1,111 1,401 1,404 1,329 723 629 600 513 502 494 ...................... ...................... 9.6 2008: Jan ............................ Feb ............................ Mar ............................ Apr ............................. May ........................... June .......................... July ........................... Aug r ........................... Sept r .......................... Oct p ........................... 1,064 1,107 988 1,004 982 1,089 949 854 828 791 750 722 711 681 682 663 644 615 549 531 27 29 16 15 20 22 14 15 17 13 287 356 261 308 280 404 291 224 262 247 1,052 981 932 982 978 1,138 937 857 805 730 1,331 1,251 1,192 1,033 1,144 1,131 1,086 1,012 1,161 1,043 597 572 513 542 515 499 r 505 454 457 433 484 477 469 463 459 445 r 433 427 414 381 ...................... ...................... 10.1 ...................... ...................... 10.0 ...................... ...................... 9.9 ...................... 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 mstockstill on PROD1PC66 with ECOIND 3 Revised NOTE.—Beginning 2004, units authorized are for 20,000 permit-issuing places. For other data shown, units authorized are for 19,000 places. Beginning 1999, housing starts, completions, and sales are not directly comparable with earlier data due to new estimation methods. Source: Department of Commerce, Bureau of the Census. 19 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00019 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.019 ECOIND BUSINESS SALES AND INVENTORIES—Manufacturing and Trade In October, according to preliminary estimates, manufacturing and trade sales fell 3.5 percent; in September, sales fell 2.3 percent, while inventories fell $5.3 billion. According to advance estimates, retail sales fell 3.1 percent in October. Retail and food services sales fell 2.8 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: Sept r .................................................. Oct r .................................................... Nov .................................................... Dec .................................................... 1,126,455 1,136,912 1,153,365 1,144,800 1,428,608 1,431,139 1,435,815 1,443,837 mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008: Jan .................................................... Feb .................................................... Mar .................................................... Apr ..................................................... May .................................................... June ................................................... July ................................................... Aug r ................................................... Sept p .................................................. Oct p ................................................... Inventorysales ratio 4 Sales 2 Inventories 3 1.43 1.40 1.41 1.42 1.36 1.34 1.30 1.27 1.27 1.27 202,260 216,597 234,546 232,096 236,294 246,857 274,710 298,803 325,749 353,663 272,406 290,171 309,071 297,199 300,791 306,032 335,935 360,411 390,350 411,955 1.27 1.26 1.24 1.26 363,137 367,426 373,884 371,569 1,160,251 1,457,953 1.26 1,148,347 1,464,497 1.28 1,161,817 1,467,463 1.26 1,179,814 1,474,247 1.25 1,192,681 1,479,765 1.24 1,213,469 1,490,874 1.23 1,214,338 1,507,756 1.24 1,188,196 1,510,658 1.27 r 1,160,521 1,505,390 1.30 1,119,896 .................. ................ 380,230 378,217 385,072 391,050 399,845 411,960 408,862 402,319 r 393,730 377,397 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 21:12 Dec 12, 2008 Jkt 045798 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 1.47 238,278 257,797 274,518 282,131 288,845 301,264 320,526 340,141 358,978 373,556 405,082 405,550 407,837 411,955 1.12 1.10 1.09 1.11 341,093 341,863 343,926 340,168 501,531 502,812 501,539 501,218 1.47 1.47 1.46 1.47 378,404 379,295 381,280 377,909 417,143 421,078 421,700 427,560 431,273 435,147 441,823 444,547 r 442,855 438,182 1.10 1.11 1.10 1.09 1.08 1.06 1.08 1.10 1.12 1.16 342,378 503,313 1.47 340,599 502,744 1.48 342,367 499,972 1.46 342,733 501,054 1.46 345,425 499,667 1.45 345,636 500,100 1.45 343,097 506,863 1.48 340,422 503,330 1.48 r 335,299 504,239 1.50 324,796 ................ ................ 380,019 378,106 380,020 380,788 383,769 384,069 381,578 378,966 r 374,065 363,696 4 Annual data are averages of seasonally adjusted monthly ratios. 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 October, manufacturers’ shipments, inventories and new and unfilled orders fell. Manufacturers’ shipments 1 Manufacturers’ inventories 2 Manufacturers’ new orders 1 Durable goods Period Total Durable goods Nondurable goods Durable goods Total Nondurable goods Total Total Capital goods industries, nondefense Manufacturers’ unfilled orders 2 Manufacturers’ inventory— shipments ratio 3 Millions of dollars, seasonally adjusted, except as noted 324,984 335,991 350,715 330,875 326,227 334,616 359,081 395,173 418,330 423,423 427,623 435,555 433,063 437,643 429,531 434,378 446,031 447,411 455,873 462,379 445,455 431,492 417,703 185,966 193,895 197,807 181,201 176,968 178,549 188,722 202,070 213,408 213,572 213,240 212,950 211,274 215,917 211,772 209,778 213,591 211,049 212,947 217,549 208,339 208,240 202,075 139,019 142,096 152,908 149,674 149,259 156,067 170,359 193,103 204,923 209,851 214,383 222,605 221,789 221,726 217,759 224,600 232,440 236,362 242,926 244,830 237,116 223,252 215,628 449,065 463,625 481,673 428,113 423,133 408,304 440,697 472,860 511,487 530,664 522,777 526,439 530,664 537,497 540,675 545,791 545,633 548,825 555,627 559,070 562,781 558,296 555,136 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. 290,700 296,553 306,727 267,829 260,582 246,963 265,070 283,598 309,914 320,757 315,650 317,534 320,757 322,384 323,841 327,066 328,911 330,426 333,127 336,185 339,033 339,728 341,256 158,365 167,072 174,946 160,284 162,551 161,341 175,627 189,262 201,573 209,907 207,127 208,905 209,907 215,113 216,834 218,725 216,722 218,399 222,500 222,885 223,748 218,568 213,880 317,345 329,770 346,789 322,746 316,809 330,369 354,619 395,401 419,793 427,597 430,254 437,808 445,917 435,415 433,860 440,216 445,915 450,033 459,576 462,993 443,200 429,286 407,370 178,327 187,674 193,881 173,072 167,550 174,302 184,261 202,298 214,871 217,746 215,871 215,203 224,128 213,689 216,101 215,616 213,475 213,671 216,650 218,163 206,084 206,034 191,742 62,133 64,392 69,278 58,246 51,817 52,894 56,094 65,770 71,725 74,288 72,501 75,585 78,238 73,271 74,408 75,431 73,609 73,639 71,958 74,498 68,694 67,923 64,851 496,083 505,498 549,445 514,349 462,122 477,608 496,343 572,835 660,406 773,297 748,304 755,712 773,297 777,859 786,860 797,114 802,972 810,293 818,023 824,232 826,529 828,225 823,094 1.39 1.35 1.35 1.38 1.28 1.24 1.19 1.17 1.19 1.23 1.22 1.21 1.23 1.23 1.26 1.26 1.22 1.23 1.22 1.21 1.26 1.29 1.33 Total and durable shipments and inventories include data on semiconductors; new and unfilled orders do not. Source: Department of Commerce, Bureau of the Census. 21 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 mstockstill on PROD1PC66 with ECOIND 1998 .................................................... 1999 .................................................... 2000 .................................................... 2001 .................................................... 2002 .................................................... 2003 .................................................... 2004 .................................................... 2005 .................................................... 2006 .................................................... 2007 ..................................................... 2007: Oct ........................................... Nov .......................................... Dec ........................................... 2008: Jan ........................................... Feb ........................................... Mar .......................................... Apr ........................................... May .......................................... June ......................................... July .......................................... Aug .......................................... Sept r ........................................ Oct p .......................................... PRICES PRODUCER PRICES The producer price index for all finished goods fell 2.8 percent in October. Prices of finished consumer foods fell 0.2 percent, while prices of other finished consumer goods fell 5.0 percent. Capital equipment prices rose 0.5 percent. [1982=100; monthly data seasonally adjusted] Finished goods Total finished goods Finished goods excluding consumer foods Consumer foods Consumer goods Total mstockstill on PROD1PC66 with ECOIND Total 1998 ........................... 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2007 .......................... 2007: Oct ................. Nov ................ Dec ................ 2008: Jan ................ Feb ................ Mar ................ Apr ................ May ............... June r ............. July ................ Aug ................ Sept ............... Oct ................. 1 Intermediate 130.7 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 166.6 167.9 172.3 171.4 173.4 174.0 175.6 176.1 178.6 181.7 183.9 182.2 181.5 176.5 134.3 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 167.0 170.0 169.7 171.9 174.9 173.8 176.2 176.2 177.3 180.0 180.6 181.2 181.5 181.2 129.5 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 166.2 167.0 172.7 171.0 172.7 173.8 175.1 175.7 178.7 181.9 184.5 182.2 181.2 175.0 126.4 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 175.6 176.8 184.8 182.4 184.6 186.0 188.0 188.4 192.8 197.4 200.7 197.2 195.4 185.6 Durable Nondurable 132.9 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 138.3 138.2 139.0 138.7 139.3 139.7 139.5 140.5 140.5 140.6 141.6 141.4 141.9 142.4 materials for food manufacturing and feeds. 122.2 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 191.7 193.6 204.9 201.5 204.5 206.4 209.5 209.7 216.3 223.2 227.7 222.4 219.4 204.4 Capital equipment 137.6 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 149.5 149.8 150.4 150.3 151.0 151.6 151.6 152.5 152.9 153.1 154.3 154.5 155.2 155.9 128.9 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 173.5 175.1 180.8 179.7 182.1 182.8 184.9 185.3 188.7 192.7 195.2 192.9 191.7 184.7 Intermediate materials Crude materials Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 123.0 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 170.7 171.9 176.9 177.2 179.3 180.9 185.2 187.1 192.2 196.5 201.4 199.4 197.1 189.5 116.2 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 154.4 159.8 162.0 165.2 171.0 175.1 180.4 180.7 184.1 186.2 193.9 193.5 191.8 181.3 123.4 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 171.5 172.6 177.7 177.8 179.7 181.2 185.5 187.4 192.6 197.0 201.8 199.7 197.4 190.0 96.8 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 207.1 211.9 226.3 230.3 236.9 246.2 262.6 274.9 291.7 299.9 316.5 278.8 256.9 209.0 103.9 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 146.7 149.4 153.8 160.2 165.1 167.0 170.6 169.8 171.4 176.0 177.0 167.8 165.9 147.5 88.4 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 246.3 252.6 274.8 276.3 283.8 299.6 327.1 351.3 381.6 392.5 423.1 360.6 321.2 248.8 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 October, the consumer price index for all urban consumers fell 1.0 percent seasonally adjusted; it fell 1.0 percent not seasonally adjusted. The index was 3.7 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: Oct ............. Nov ............ Dec ............ 208.936 209.055 205.636 211.110 242.635 237.122 210.177 210.930 206.414 211.861 243.295 238.050 210.036 211.680 206.584 212.409 243.974 238.925 248.045 202.591 118.430 186.134 243.617 356.384 248.790 204.915 119.125 192.718 272.290 357.745 249.425 205.615 119.240 194.653 279.928 358.861 210.690 212.115 225.218 212.626 229.076 213.103 2008: Jan ............ Feb ............ Mar ............ Apr ............ May ............ June ........... July ............ Aug ............. Sept ............ Oct ............. 211.080 211.693 213.528 214.823 216.632 218.815 219.964 219.086 218.783 216.573 250.051 250.413 250.941 251.461 251.656 252.299 252.610 252.970 253.493 253.871 230.633 229.390 233.839 233.804 244.107 260.316 270.602 262.107 257.086 235.053 Period mstockstill on PROD1PC66 with ECOIND All items less food and energy Not seasonally adjusted (NSA) 212.516 212.571 213.301 213.743 215.132 217.403 219.181 218.880 218.813 216.710 Food Total 1 Total 1 208.026 208.778 209.255 211.232 211.918 213.542 215.545 216.807 218.029 218.582 212.920 213.313 214.204 214.850 215.876 216.918 218.267 218.101 217.891 217.793 244.744 244.837 245.200 245.335 245.822 246.612 247.090 247.258 247.971 248.058 Rent of primary residence 239.745 240.191 240.763 241.489 241.919 242.837 243.535 244.296 244.977 245.840 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. excluded beginning 1983. 2 Household Owners’ equivalent rent (12/82= 100) Fuels and utilities 205.567 208.175 212.311 216.921 222.094 226.160 233.540 230.876 224.377 223.111 Apparel 119.759 119.352 117.819 118.363 118.043 118.107 119.574 120.157 120.005 118.843 Total 1 195.722 194.390 195.797 194.483 198.465 205.915 209.358 206.303 205.036 194.031 Motor fuel 283.011 277.448 281.996 276.571 292.243 321.618 334.732 320.647 317.962 273.671 Medical care 360.815 361.168 361.697 362.243 362.801 363.618 363.852 364.710 365.836 366.470 Energy 2 213.765 213.851 214.176 214.398 214.832 215.526 216.230 216.650 216.956 216.801 3 Relative importance, December 2007. Source: Department of Labor, Bureau of Labor Statistics. 23 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00023 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.023 ECOIND g:\graphics\eecoind.023 All items 1 CHANGES IN PRODUCER PRICES FOR FINISHED GOODS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Period Change from preceding period Change from 3 months earlier, annual rate Change from 6 months earlier, annual rate Consumer goods Consumer goods Consumer goods Total finished goods Foods Capital equipment Excluding foods Change from year earlier, total finished goods NSA Total finished goods Foods Excluding foods Capital equipment Total finished goods Foods Excluding foods Capital equipment ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Change, Dec. to Dec., NSA 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. 0 2.9 3.6 ¥1.6 1.2 4.0 4.2 5.4 1.1 6.2 ¥0.1 5.1 5.5 ¥3.9 2.9 4.1 5.5 8.8 .4 7.7 0.1 .8 1.7 1.8 ¥.6 7.7 3.1 1.7 1.7 7.6 0 .3 1.2 0 ¥.6 .8 2.4 1.2 2.3 1.4 ¥0.8 1.8 3.8 2.0 ¥1.3 3.2 3.6 4.8 3.0 3.9 Change, month to month 2007: Oct ....... Nov ....... Dec ....... 0.5 2.6 ¥.5 1.3 ¥.2 1.3 0.5 4.5 ¥1.3 0.1 .4 ¥.1 1.0 15.8 11.0 10.0 9.2 9.9 ¥1.8 24.1 15.6 0.3 1.9 1.6 2.9 7.1 5.8 3.0 4.0 7.1 3.7 10.5 7.5 0.9 1.6 1.1 6.1 7.3 6.2 2008: Jan ....... Feb ....... Mar ....... Apr ....... May ...... June r .... July ...... Aug ....... Sept ...... Oct ........ 1.2 .3 .9 .3 1.4 1.7 1.2 ¥.9 ¥.4 ¥2.8 1.7 ¥.6 1.4 .0 .6 1.5 .3 .3 .2 ¥.2 1.2 .8 1.1 .2 2.3 2.4 r 1.7 ¥1.7 ¥.9 ¥5.0 .5 .4 .0 .6 .3 .1 .8 .1 .5 .5 13.8 4.0 10.2 6.4 11.0 14.6 18.9 8.3 ¥.4 ¥15.1 12.0 10.0 10.4 3.0 8.3 8.9 10.4 9.1 r 3.4 1.3 18.8 2.6 12.9 8.5 15.4 21.6 28.8 9.4 r ¥4.0 ¥26.9 3.2 3.2 3.5 4.0 3.5 4.0 4.8 4.3 5.6 4.2 7.2 9.7 10.6 10.0 7.4 12.4 12.5 9.6 6.8 .5 11.0 9.6 10.1 7.4 9.2 9.6 6.6 8.7 6.1 5.8 8.0 12.8 14.2 13.6 8.8 17.1 18.2 12.4 8.0 ¥3.0 1.7 2.6 2.6 3.6 3.4 3.8 4.4 3.9 4.8 4.5 7.4 6.5 6.7 6.4 7.3 9.1 9.8 9.6 8.7 5.2 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 .......... c 5.0 .2 2.6 6.3 6.2 3.2 4.1 4.3 3.5 4.3 4.1 6.8 3.1 3.1 2.3 4.9 7.9 10.6 7.2 2.6 ¥4.4 4.7 4.7 4.6 4.5 4.0 5.5 6.4 6.0 5.2 2.8 4.3 4.0 4.0 3.9 4.2 5.0 5.6 5.4 4.9 3.7 mstockstill on PROD1PC66 with ECOIND Change, month to month 2007: Oct ................ Nov ............... Dec ............... 0.3 .9 .4 0.2 .4 .1 0.2 .4 .3 0.2 .3 .3 0.4 .4 .4 0.2 .3 .3 1.0 1.1 .3 0.1 .6 .1 0.3 3.5 1.0 ¥0.1 .0 .0 1.0 11.8 2.8 0.5 .4 .3 1.0 6.9 1.7 2008: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. July .............. Aug ............... Sept .............. Oct ................ .4 .0 .3 .2 .6 1.1 .8 ¥.1 .0 ¥1.0 .7 .4 .2 .9 .3 .8 .9 .6 .6 .3 .2 .2 .4 .3 .5 .5 .6 ¥.1 ¥.1 .0 .3 .0 .1 .1 .2 .3 .2 .1 .3 .0 .3 .2 .2 .3 .2 .4 .3 .3 .3 .4 .3 .1 .2 .2 .1 .3 .1 .1 .2 .1 .0 1.3 2.0 2.2 2.4 1.8 3.3 ¥1.1 ¥2.8 ¥.6 .4 ¥.3 ¥1.3 .5 ¥.3 .1 1.2 .5 ¥.1 ¥1.0 .5 ¥.7 .7 ¥.7 2.0 3.8 1.7 ¥1.5 ¥.6 ¥5.4 ¥.3 ¥.1 .0 .0 .1 .4 .7 .0 ¥.4 ¥.6 1.1 ¥2.0 1.6 ¥1.9 5.7 10.1 4.1 ¥4.2 ¥.8 ¥13.9 .5 .1 .1 .2 .2 .2 .1 .2 .3 .2 .7 ¥.5 1.9 .0 4.4 6.6 4.0 ¥3.1 ¥1.9 ¥8.6 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 .0 .2 .1 .2 .3 .3 .2 .1 ¥.1 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00024 Fmt 3401 .......... .......... c 4.3 .......... .......... 5.0 .......... .......... c 6.7 .......... Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In November, prices received by farmers fell 7.9 percent; prices paid by farmers fell 2.1 percent. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers mstockstill on PROD1PC66 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 90 103 122 120 111 130 115 115 119 123 124 128 134 142 150 161 114 113 117 121 121 125 133 142 151 163 113 111 115 120 119 124 132 140 148 160 89 83 81 83 79 84 89 81 77 84 2007: Nov .................... Dec .................... 141 142 149 150 134 134 165 166 167 168 166 167 85 86 2008: Jan .................... Feb .................... Mar .................... Apr .................... May .................... June r ................. July .................... Aug .................... Sept ................... Oct r .................... Nov .................... 144 145 146 145 150 158 159 156 154 151 139 157 162 166 168 170 183 182 177 174 168 152 129 131 129 127 134 137 138 137 133 127 125 171 173 177 181 185 189 191 192 191 187 183 174 177 181 186 191 194 197 199 197 192 188 172 175 180 187 193 197 201 203 201 194 189 84 84 82 80 81 84 83 81 81 81 76 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 21:12 Dec 12, 2008 Jkt 045798 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 October, 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 1,366.5 4,378.4 4,633.9 4,912.9 5,421.2 5,766.0 6,055.5 6,400.7 6,659.7 7,012.3 7,404.3 16,226.6 17,307.7 18,183.6 19,319.3 20,733.8 22,442.5 24,456.8 26,776.2 29,201.4 31,723.4 2.1 2.5 ¥3.1 8.7 3.2 7.1 5.4 ¥.1 ¥.6 .0 8.5 5.8 6.0 10.3 6.4 5.0 5.7 4.0 5.3 5.6 6.6 6.4 5.0 6.3 7.3 8.1 8.9 9.5 9.1 8.6 2007: Oct ......................................................................................... Nov ........................................................................................ Dec ........................................................................................ 1,369.5 1,365.6 1,366.5 7,338.3 7,372.3 7,404.3 ............................ ............................ 31,723.4 ¥1.2 ¥1.4 .1 4.6 5.0 5.4 ...................... ...................... 8.1 2008: Jan ........................................................................................ Feb ........................................................................................ Mar ........................................................................................ Apr ........................................................................................ May r ....................................................................................... June ....................................................................................... July r ...................................................................................... Aug ........................................................................................ Sept r ...................................................................................... Oct r ........................................................................................ 1,367.2 1,372.8 1,375.3 1,371.3 1,368.0 1,386.2 1,403.3 1,394.0 1,453.8 1,473.1 7,448.9 7,546.8 7,618.1 7,631.3 7,640.7 7,638.7 7,679.5 7,669.9 7,769.1 7,879.0 ............................ ............................ 32,154.9 ............................ ............................ 32,436.5 ............................ ............................ ............................ ............................ ¥.2 .4 1.3 .3 .4 2.9 5.3 3.1 11.4 14.8 5.9 7.2 8.3 8.0 7.3 6.3 6.2 3.3 4.0 6.5 ...................... ...................... 5.4 ...................... ...................... 3.5 ...................... ...................... ...................... ...................... mstockstill on PROD1PC66 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. Debt of domestic nonfinancial sectors 1 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00026 Fmt 3401 M1 M2 From previous period 3 Debt NOTE.—The Federal Reserve previously announced that the M3 monetary aggregate and most of its components would no longer be published. Institutional money market mutual funds will continue to be published as a memorandum item in the H.6 release, and the component on large-denomination time deposits will be published in other Federal Reserve Board releases. For details, see H.6 release of March 23, 2006. See p. 27 for components. Source: Board of Governors of the Federal Reserve System. 26 VerDate Aug 31 2005 Percent change From year or 6 months earlier 2 Sfmt 3401 E:\HR\OC\ECOIND.026 ECOIND g:\graphics\eecoind.026 Period Debt COMPONENTS OF MONEY STOCK [Averages of daily figures; billions of dollars, seasonally adjusted] Period 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Currency Nonbank travelers checks Demand deposits Other checkable deposits (OCDs) Savings deposits 1 At commercial banks Total At commercial banks Total At thrift institutions Small-denomination time deposits 2 At thrift institutions At commercial banks Total At thrift institutions Retail money funds Institutional money funds 3 ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... 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 6.3 376.6 352.8 309.6 335.2 306.2 325.8 343.2 324.9 305.9 294.8 249.9 243.4 238.4 257.4 279.4 310.1 328.0 318.5 305.0 306.8 143.9 139.6 133.1 142.0 154.3 175.2 186.8 180.5 176.8 173.9 106.0 103.7 105.2 115.5 125.1 134.8 141.2 138.0 128.2 132.9 1,605.0 1,740.3 1,878.7 2,310.6 2,774.2 3,162.3 3,506.4 3,599.2 3,685.4 3,858.9 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 3,033.7 416.5 451.2 454.1 571.1 713.8 824.7 875.3 827.7 781.4 825.3 952.4 956.8 1,047.6 976.5 896.0 818.7 830.0 996.2 1,171.4 1,218.9 626.4 636.9 700.2 635.4 590.8 541.3 551.2 644.9 759.2 823.0 326.1 319.9 347.5 341.1 305.2 277.4 278.8 351.3 412.2 395.9 725.5 814.4 899.3 952.3 876.1 768.5 688.0 689.9 789.0 959.9 552.9 659.3 816.8 1,224.6 1,275.5 1,142.1 1,093.4 1,161.2 1,362.0 1,901.2 2007: Oct ...... Nov ..... Dec ...... 761.5 761.1 758.7 6.4 6.3 6.3 296.5 296.2 294.8 305.1 302.0 306.8 173.0 172.3 173.9 132.1 129.7 132.9 3,840.9 3,855.0 3,858.9 3,010.5 3,026.7 3,033.7 830.4 828.3 825.3 1,211.9 1,216.1 1,218.9 803.3 820.5 823.0 408.7 395.5 395.9 915.9 935.5 959.9 1,798.7 1,859.1 1,901.2 2008: Jan ...... Feb ...... Mar r .... Apr r ..... May ..... June r ... July r .... Aug r .... Sept r ... Oct ...... 757.8 758.7 761.8 759.8 762.7 769.0 774.6 775.8 780.1 795.0 6.2 6.2 6.2 6.2 6.2 6.0 5.9 5.9 5.8 5.8 294.6 295.0 297.2 294.0 289.0 294.0 303.1 302.4 351.9 360.5 308.6 312.9 310.1 311.3 310.3 317.1 319.7 309.9 316.1 311.9 173.9 177.7 175.7 175.6 171.5 181.0 180.3 172.1 177.5 174.8 134.8 135.2 134.5 135.8 138.8 136.1 139.4 137.8 138.6 137.1 3,872.9 3,921.3 3,979.8 3,987.0 4,025.2 4,024.9 4,033.0 4,011.9 4,033.4 4,032.0 3,040.1 3,081.5 3,123.8 3,126.6 3,138.3 3,126.7 3,130.4 3,120.3 3,170.2 3,247.6 832.9 839.8 856.0 860.4 886.9 898.2 902.6 891.6 863.3 784.5 1,226.1 1,227.3 1,217.1 1,211.5 1,206.8 1,203.9 1,212.8 1,237.5 1,255.6 1,314.1 825.5 826.8 820.9 816.5 815.8 818.6 833.6 859.5 883.0 975.0 400.6 400.5 396.2 395.0 390.9 385.3 379.1 378.0 372.7 339.1 982.6 1,025.4 1,045.8 1,061.5 1,040.6 1,023.7 1,030.4 1,026.5 1,026.2 1,059.7 1,950.6 2,093.3 2,168.5 2,208.5 2,242.3 2,269.3 2,267.5 2,291.7 2,198.3 2,150.0 1 Savings deposits including money market deposit accounts (MMDAs). deposits are those issued in amounts of less than $100,000. money funds are not part of non-M1 M2. NOTE.—See Note, p. 26. Source: Board of Governors of the Federal Reserve System. 2 Small-denomination 3 Institutional AGGREGATE RESERVES AND MONETARY BASE [Averages of daily figures 1; millions of dollars; seasonally adjusted, except as noted by NSA] Adjusted for changes in reserve requirements Borrowings from the Federal Reserve (NSA) Other borrowings from the Federal Reserve Reserves of depository institutions Period Total 2 mstockstill on PROD1PC66 with ECOIND 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: Nonborrowed 3 Required Excess (NSA) Monetary base Total 4 Term auction credit Primary Primary dealer and other brokerdealer credit 5 Assetbacked commerical paper money market mutual fund liquidity facility Credit extended to American International Group, Inc. Adjustment 6 Dec ......... Dec ......... Dec ......... Dec ......... Dec ......... Dec ......... Dec ......... Dec ......... Dec ......... Dec r ........ 45,170 42,183 38,716 41,443 40,400 42,757 46,552 45,138 43,338 42,675 45,053 41,862 38,507 41,376 40,320 42,711 46,489 44,970 43,147 27,244 43,658 40,889 37,391 39,799 38,392 41,710 44,643 43,238 41,475 40,905 1,512 1,294 1,325 1,643 2,008 1,047 1,909 1,900 1,863 1,770 513,921 593,846 584,929 635,601 681,656 720,474 759,173 787,303 811,730 823,348 117 320 210 67 80 46 63 169 191 15,430 .............. .............. .............. .............. .............. .............. .............. .............. .............. 11,613 .............. .............. .............. .............. .............. 17 11 97 111 3,787 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 101 179 99 34 35 .............. .............. .............. .............. .............. 2007: Nov ......... Dec r ........ 42,623 42,675 42,258 27,244 40,927 40,905 1,696 1,770 825,422 823,348 366 15,430 .............. 11,613 315 3,787 .............. .............. .................. .................. .............. .............. .............. .............. 2008: Jan ......... Feb ......... Mar ......... Apr ......... May ........ June ....... July ........ Aug r ....... Sept r ....... Oct r ........ Nov p ....... 42,149 42,804 44,292 43,563 44,133 43,373 43,348 44,586 102,800 315,525 609,952 ¥3,510 ¥17,353 ¥50,232 ¥91,847 ¥111,648 ¥127,905 ¥122,316 ¥123,492 ¥187,306 ¥332,795 ¥88,834 40,509 41,080 41,313 41,719 42,122 41,100 41,371 42,599 42,749 47,619 50,904 1,640 1,724 2,978 1,844 2,011 2,272 1,977 1,988 60,051 267,906 559,048 821,406 822,560 826,994 824,408 826,461 832,528 838,142 841,709 903,524 1,128,479 1,433,092 45,660 60,157 94,523 135,410 155,780 171,278 165,664 168,078 290,105 648,319 698,786 44,516 60,000 75,484 100,000 127,419 150,000 150,000 150,000 149,814 244,778 393,088 1,137 155 1,617 9,624 14,076 14,225 15,204 17,980 32,632 94,017 95,839 .............. .............. 16,168 25,764 14,238 6,908 255 0 53,473 114,953 60,655 .................. .................. .................. .................. .................. .................. .................. .................. 31,877 117,457 71,009 .............. .............. .............. .............. .............. .............. .............. .............. 22,187 77,047 78,070 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 1 Data are prorated averages of biweekly (maintenance period) averages of daily figures. Reserves and monetary base incorporate adjustments for discontinuities, or ‘‘breaks,’’ associated with changes in reserve requirements. 2 Seasonally adjusted break-adjusted required reserves plus unadjusted excess reserves. 3 Seasonally adjusted break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. 4 Includes secondary and seasonal, and other credit extensions, not shown separately. 5 Includes credit extended through the Primary Dealer Credit Facility and credit extended to other broker-dealers. 6 Discontinued after January 8, 2003. Source: Board of Governors of the Federal Reserve System. 27 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00027 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.027 ECOIND BANK CREDIT AT ALL COMMERCIAL BANKS Total commercial bank loans and leases rose 2.8 percent in October; commercial and industrial loans rose 4.2 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit mstockstill on PROD1PC66 with ECOIND 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2007: Dec ........... Dec ........... Dec r .......... Dec ........... Dec ........... Dec ........... Dec ........... Dec r .......... Dec r .......... Dec r .......... Oct r .......... Nov r ......... Dec r .......... 2008: Jan r .......... Feb r .......... Mar r ......... Apr r .......... May r ......... June r ........ July r ......... Aug r ......... Sept r ......... Oct ........... Total bank credit 4,514.1 4,742.9 5,204.2 5,414.6 5,885.0 6,257.9 6,807.6 7,523.7 8,353.4 9,206.3 9,057.1 9,180.3 9,206.3 9,274.1 9,334.5 9,455.5 9,408.8 9,402.5 9,374.0 9,398.3 9,414.5 9,574.2 9,958.1 Total securities 1,225.9 1,268.8 1,337.3 1,482.9 1,714.7 1,853.5 1,947.4 2,067.5 2,247.7 2,424.2 2,404.5 2,464.5 2,424.2 2,435.2 2,453.3 2,539.3 2,511.1 2,481.1 2,471.3 2,490.9 2,477.7 2,533.6 2,717.8 795.8 810.4 790.6 852.1 1,029.4 1,115.6 1,172.0 1,162.5 1,218.0 1,126.2 1,138.9 1,129.0 1,126.2 1,104.0 1,094.0 1,105.0 1,093.8 1,096.0 1,112.8 1,114.3 1,127.7 1,153.8 1,227.4 Loans and leases in bank credit 430.1 458.4 546.7 630.8 685.3 738.0 775.4 905.0 1,029.8 1,298.0 1,265.5 1,335.5 1,298.0 1,331.2 1,359.4 1,434.3 1,417.3 1,385.2 1,358.5 1,376.6 1,350.0 1,379.8 1,490.4 3,288.2 3,474.1 3,866.9 3,931.7 4,170.3 4,404.4 4,860.1 5,456.2 6,105.7 6,782.2 6,652.7 6,715.8 6,782.2 6,838.9 6,881.2 6,916.2 6,897.7 6,921.4 6,902.7 6,907.4 6,936.8 7,040.6 7,240.3 1 Data are prorated averages of Wednesday values for domestically chartered commercial banks, branches and agencies of foreign banks, New York State investment companies (through September 1996), and Edge Act and agreement corporations. Data are adjusted for breaks caused by reclassifications of assets and liabilities. 2 Includes other trading assets. 28 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00028 Fmt 3401 Real estate Commercial and industrial Total loans and leases 3 Other securities 2 Total 4 938.8 990.9 1,079.1 1,018.7 955.9 896.7 918.9 1,036.6 1,188.3 1,434.4 1,390.2 1,408.5 1,434.4 1,450.7 1,459.7 1,480.1 1,489.4 1,495.8 1,502.9 1,509.6 1,509.3 1,536.9 1,601.5 1,333.4 1,471.9 1,655.9 1,786.1 2,033.8 2,230.2 2,566.1 2,924.4 3,357.6 3,578.6 3,539.9 3,562.3 3,578.6 3,594.9 3,622.3 3,649.2 3,654.3 3,657.2 3,648.2 3,627.1 3,646.0 3,666.7 3,791.5 Revolving home equity 103.6 101.1 129.7 155.4 213.1 280.3 397.9 443.7 467.6 483.2 475.6 478.5 483.2 486.9 492.5 498.9 506.8 512.2 518.3 523.5 526.2 540.4 577.8 Commercial 559.1 648.0 742.2 813.6 884.5 962.0 1,083.3 1,274.9 1,453.6 1,604.0 1,571.8 1,589.5 1,604.0 1,614.3 1,627.6 1,642.7 1,653.7 1,663.9 1,680.0 1,667.8 1,674.3 1,680.6 1,717.8 Consumer 5 497.4 491.5 539.8 556.2 585.9 642.3 696.7 707.6 743.3 809.2 788.5 795.9 809.2 813.2 814.7 817.9 823.4 827.1 831.7 839.3 845.0 852.0 870.2 Security 5 134.5 139.6 161.0 135.0 173.8 198.1 197.4 245.6 268.6 287.6 271.9 282.0 287.6 301.5 296.0 292.3 283.6 292.8 280.8 295.0 305.5 331.0 302.6 Other 384.1 380.1 431.1 435.6 421.0 437.1 481.0 542.0 548.0 672.3 662.2 667.1 672.3 678.7 688.5 676.6 647.1 648.5 639.1 636.3 630.9 654.0 674.4 3 Excludes unearned income. Includes the allowance for loan and lease losses. Excludes Federal funds sold to, reverse repurchase agreements (RPs) with, and loans to commercial banks in the United States. 4 Includes other residential, not shown separately. 5 Includes other items, not shown separately. Source: Board of Governors of the Federal Reserve System. Sfmt 3401 E:\HR\OC\ECOIND.028 ECOIND g:\graphics\eecoind.028 Period U.S. Treasury and agency securities SOURCES AND USES OF FUNDS, NONFARM NONFINANCIAL CORPORATE BUSINESS [Billions of dollars; quarterly data at seasonally adjusted annual rates] Sources Uses External (Net increase in liabilities) Funds raised in markets Period Total 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2006: ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ I ........... II ......... III ........ IV ........ 2007: I ........... II ......... III ........ IV ........ 2008: I ........... II p ........ 1,298.1 1,718.6 1,955.4 850.2 896.2 844.7 1,537.5 2,026.3 2,027.9 1,955.3 1,932.8 2,232.0 1,940.2 2,006.5 1,886.9 1,940.0 2,112.3 1,882.3 1,830.3 1,584.5 Internal 1 682.1 731.0 718.0 755.0 811.3 831.3 928.5 1,065.1 1,086.0 1,047.0 1,094.3 1,091.2 1,117.2 1,041.2 1,028.8 1,032.7 1,065.0 1,061.7 1,041.2 984.4 Credit market instruments Total 616.0 987.6 1,237.4 95.2 84.9 13.4 609.0 961.2 941.9 908.3 838.5 1,140.8 823.0 965.3 858.1 907.3 1,047.3 820.6 789.1 600.1 Capital expenditures 3 Total Total net funds raised Net new equity issues 167.5 273.2 243.7 164.6 ¥18.2 46.1 80.4 ¥46.2 ¥81.9 ¥47.2 ¥102.6 ¥33.0 ¥189.4 ¥2.4 92.8 33.1 35.2 ¥350.0 ¥80.1 23.6 ¥215.5 ¥110.4 ¥118.2 ¥48.1 ¥41.4 ¥41.1 ¥124.4 ¥360.7 ¥602.9 ¥834.2 ¥566.1 ¥578.0 ¥524.1 ¥743.5 ¥567.4 ¥813.4 ¥831.4 ¥1,124.7 ¥503.3 ¥366.7 Total Securities and mortgages 383.1 383.6 361.9 212.7 23.1 87.1 204.8 314.5 521.1 787.0 463.5 545.0 334.7 741.1 660.2 846.5 866.6 774.7 423.2 390.3 1 Profits before tax (book) less taxes on corporate income, less net dividends, plus capital consumption allowance (consumption of fixed capital plus capital consumption adjustment), foreign earnings retained abroad, inventory valuation adjustment, and net capital transfers. 2 Includes trade payables, taxes payable, and miscellaneous liabilities (foreign direct investment in the U.S., pension fund contributions payable, and other). 221.9 273.6 187.3 399.6 167.4 216.9 132.7 252.0 326.9 420.8 324.0 300.4 278.2 405.1 413.0 506.4 337.6 426.5 239.3 385.8 Loans and shortterm paper Other 2 161.3 110.1 174.6 ¥187.0 ¥144.2 ¥129.7 72.2 62.5 194.2 366.2 139.5 244.6 56.6 335.9 247.2 340.1 529.1 348.4 183.9 4.6 448.4 714.4 993.7 ¥69.3 103.1 ¥32.6 528.7 1,007.4 1,023.7 955.6 941.2 1,173.7 1,012.4 967.7 765.3 874.2 1,012.1 1,170.5 869.2 576.5 1,348.4 1,833.8 2,137.7 980.2 867.2 832.5 1,608.8 1,879.8 1,930.5 2,074.3 1,873.8 2,138.3 1,889.7 1,820.1 1,968.9 2,136.0 2,350.0 1,841.9 1,913.7 1,474.6 778.5 863.9 928.5 802.6 737.1 749.9 825.7 922.0 1,059.4 1,047.3 1,013.3 1,063.6 1,076.3 1,084.3 1,009.2 1,044.0 1,083.8 1,052.0 1,066.7 1,121.2 Increase in financial assets 569.9 969.9 1,209.2 177.6 130.1 82.6 783.1 957.8 871.1 1,027.0 860.5 1,074.7 813.4 735.8 959.7 1,092.0 1,266.2 789.9 847.0 353.4 Discrepancy (sources less uses) ¥50.4 ¥115.2 ¥182.4 ¥130.0 28.9 12.1 ¥71.3 146.5 97.4 ¥118.9 59.0 93.7 50.6 186.4 ¥82.0 ¥196.0 ¥237.7 40.3 ¥83.4 109.8 3 Nonresidential fixed investment plus residential fixed investment, inventory change with inventory valuation adjustment, and nonproduced nonfinancial assets. Source: Board of Governors of the Federal Reserve System. CONSUMER CREDIT [Billions of dollars; seasonally adjusted] Consumer credit outstanding (end of period) Period Total Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec r .............................................................................. Oct r .............................................................................. Nov r ............................................................................. Dec r .............................................................................. 2008: Jan r .............................................................................. Feb r .............................................................................. Mar r ............................................................................. Apr r .............................................................................. May r ............................................................................. June r ............................................................................ July r ............................................................................. Aug r ............................................................................. Sept r ............................................................................. Oct p .............................................................................. mstockstill on PROD1PC66 with ECOIND 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2007: Revolving 1,421.0 1,532.4 1,717.7 1,867.3 1,974.3 2,078.3 2,191.6 2,285.2 2,387.7 2,519.0 2,501.1 2,513.8 2,519.0 2,526.0 2,536.9 2,549.1 2,558.8 2,565.4 2,574.0 2,581.4 2,574.9 2,581.7 2,578.1 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. 581.4 610.7 683.7 716.6 748.8 770.4 799.8 824.5 874.6 939.5 929.2 936.1 939.5 945.8 951.4 957.4 957.3 962.9 965.7 971.8 973.8 976.3 976.1 Nonrevolving 2 839.6 921.7 1,034.0 1,150.7 1,225.5 1,307.9 1,391.8 1,460.7 1,513.1 1,579.5 1,571.8 1,577.7 1,579.5 1,580.3 1,585.5 1,591.7 1,601.5 1,602.5 1,608.4 1,609.6 1,601.2 1,605.4 1,602.0 Net change in consumer credit outstanding 1 Total 96.2 111.4 185.3 149.6 107.0 104.0 113.3 93.6 102.5 131.3 7.6 12.7 5.2 7.0 10.9 12.2 9.7 6.6 8.6 7.4 ¥6.5 6.8 ¥3.6 Revolving 41.4 29.3 73.0 32.9 32.2 21.6 29.4 24.7 50.1 64.9 7.3 6.9 3.4 6.3 5.6 6.0 ¥.1 5.6 2.8 6.1 2.0 2.5 ¥.2 Nonrevolving 2 54.8 82.1 112.3 116.7 74.8 82.4 83.9 68.9 52.4 66.4 .2 5.9 1.8 .8 5.2 6.2 9.8 1.0 5.9 1.2 ¥8.4 4.2 ¥3.4 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Interest rates fell in November. [Percent per annum] Constant mstockstill on PROD1PC66 with ECOIND Period 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2007: Nov ............. Dec .............. 2008: Jan .............. Feb .............. Mar ............. Apr ............. May ............ June ........... July ............ Aug ............. Sept ............ Oct .............. Nov ............. Week ended: 2008: Nov 8 ........ 15 ........ 22 ........ 29 ........ Dec 6 ........ 3-month bills (new issues) 1 3-year maturities 2 10-year 30-year Highgrade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) Primary credit 4.81 4.66 5.85 3.45 1.62 1.02 1.38 3.16 4.73 4.41 3.49 3.08 2.86 2.21 1.38 1.32 1.71 1.90 1.72 1.79 1.46 .84 .30 5.14 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.35 3.35 3.13 2.51 2.19 1.80 2.23 2.69 3.08 2.87 2.70 2.32 1.86 1.51 5.26 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.63 4.15 4.10 3.74 3.74 3.51 3.68 3.88 4.10 4.01 3.89 3.69 3.81 3.53 5.58 5.87 5.94 5.49 * * * * 4.91 4.84 4.52 4.53 4.33 4.52 4.39 4.44 4.60 4.69 4.57 4.50 4.27 4.17 4.00 5.12 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.42 4.45 4.22 4.00 4.35 4.67 4.43 4.34 4.48 4.88 4.90 5.03 5.68 5.28 6.53 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.56 5.44 5.49 5.33 5.53 5.51 5.55 5.57 5.68 5.67 5.64 5.65 6.28 6.15 .............. .............. .............. .............. .............. 2.12 2.34 4.19 5.96 5.86 5.00 4.75 3.50 3.50 2.50 2.25 2.25 2.25 2.25 2.25 2.25 1.25 1.25 .53 .36 .15 .15 .05 1.65 1.63 1.38 1.40 1.11 3.82 3.78 3.38 3.10 2.66 4.22 4.24 3.93 3.60 3.15 5.29 5.23 5.18 5.41 5.52 6.37 6.37 5.99 5.76 5.31 1.25 1.25 1.25 1.25 1.25 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 30 VerDate Aug 31 2005 Discount window (N.Y. F.R. Bank) 4 5 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00030 Fmt 3401 Discount rate Prime rate charged by banks 5 4.92 4.62 5.73 3.40 1.17 Federal funds rate 6 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 7.50 7.25 6.00 6.00 5.25 5.00 5.00 5.00 5.00 5.00 5.00 4.00 4.00 5.35 4.97 6.24 3.88 1.67 1.13 1.35 3.22 4.97 5.02 4.49 4.24 3.94 2.98 2.61 2.28 1.98 2.00 2.01 2.00 1.81 .97 .39 7.07 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.41 6.42 6.21 6.02 5.96 5.92 5.98 6.01 6.13 6.29 6.33 6.09 6.10 .............. * * * * * 4.00 4.00 4.00 4.00 4.00 .24 .28 .36 .56 .49 .............. .............. .............. .............. .............. 6 Daily effective rate; weighted average of rates on brokered trades. 7 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and assumed, on the average, repayment at end of 10 years. * Discount rate (adjustment credit) series was discontinued after January 8, 2003. Series for 30-year constant maturity was discontinued on February 18, 2002, and reintroduced on February 9, 2006. Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Board, Moody’s Investors Service, and Standard & Poor’s. Sfmt 3401 E:\HR\OC\ECOIND.030 ECOIND g:\graphics\eecoind.030 U.S. Treasury security yields COMMON STOCK PRICES AND YIELDS Stock prices fell in November. 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: Nov ............................................... Dec ............................................... 9,741.15 9,807.36 8,522.71 8,447.99 14,622.23 14,956.77 7,127.40 7,306.60 13,200.58 13,406.99 1,463.39 1,479.23 2,662.80 2,661.55 1.95 1.93 .................. 4.51 2008: Jan .............................................. Feb ............................................... Mar .............................................. Apr .............................................. May ............................................. June ............................................ July ............................................. Aug .............................................. Sept ............................................. Oct ............................................... Nov .............................................. 9,165.10 9,041.52 8,776.21 9,174.10 9,429.04 8,996.98 8,427.37 8,362.20 7,886.29 6,130.39 5,527.63 7,776.77 7,577.54 7,155.51 7,579.73 7,593.63 6,798.20 6,207.89 6,304.58 6,159.18 4,733.74 3,779.86 14,222.14 13,931.92 14,000.91 15,159.35 16,365.23 16,272.67 14,899.86 13,772.04 12,562.82 9,515.71 9,262.07 7,068.98 6,674.75 6,318.44 6,381.98 6,405.40 6,243.42 6,412.48 6,618.92 6,316.05 5,434.03 5,088.99 12,538.12 12,419.57 12,193.88 12,656.63 12,812.48 12,056.67 11,322.38 11,530.75 11,114.08 9,176.71 8,614.55 1,378.76 1,354.87 1,316.94 1,370.47 1,403.22 1,341.25 1,257.33 1,281.47 1,217.01 968.80 883.04 2,418.09 2,325.83 2,254.82 2,368.10 2,483.24 2,427.45 2,278.14 2,389.27 2,205.20 1,730.32 1,542.70 2.06 2.10 2.17 2.09 2.07 2.15 2.27 2.23 2.36 2.83 3.11 .................. .................. 4.57 .................. .................. 4.01 .................. .................. p 3.94 .................. .................. Week ended: 2008: Nov 8 .......................................... 15 ......................................... 22 ......................................... 29 ......................................... Dec 6 ......................................... 5,990.32 5,585.11 5,062.40 5,458.95 5,288.13 4,381.19 3,893.08 3,223.29 3,582.38 3,497.75 9,757.91 9,233.65 8,620.95 9,479.18 8,747.81 5,355.35 5,209.64 4,848.48 4,905.88 4,879.33 9,144.80 8,635.94 8,058.86 8,619.63 8,434.31 952.14 891.01 813.78 873.28 851.41 1,688.84 1,562.08 1,410.44 1,501.11 1,459.02 2.86 3.20 3.37 3.02 3.07 .................. .................. .................. .................. .................. 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 mstockstill on PROD1PC66 with ECOIND Dow Jones industrial average 4 1 Average of daily closing prices. all the stocks (nearly 3,000) listed on the NYSE. January 9, 2003, the NYSE relaunched the composite index with changes in methodology, definitions, and based on Dec. 31, 2002=5,000. Effective January 8, 2004 new indexes for Financial, Energy, and Health Care were introduced by the NYSE. Previous indexes shown for Industrial, Transportation, Utility, and Finance were discontinued. 4 Includes 30 stocks. 2 Includes 3 Effective 5 Includes 500 stocks. over 5,000 stocks. & Poor’s series. Dividend-price ratios based on Wednesday closing prices. Earnings-price ratios based on prices at end of quarter. 6 Includes 7 Standard Sources: New York Stock Exchange, Dow Jones & Company, Inc., Standard & Poor’s, and Nasdaq Stock Market. 31 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 second month of fiscal 2009, there was a deficit of $401.6 billion, compared with a deficit of $155.1 billion a year earlier. [Billions of dollars] mstockstill on PROD1PC66 with ECOIND 1 Data 2 Data Off-budget 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 2,523.9 2,651.4 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.2 2,978.7 3,133.2 ¥290.3 ¥255.1 ¥203.2 ¥164.0 ¥107.4 ¥21.9 69.3 125.6 236.2 128.2 ¥157.8 ¥377.6 ¥412.7 ¥318.3 ¥248.2 ¥162.0 ¥454.8 ¥481.8 788.9 842.5 923.7 1,000.9 1,085.7 1,187.4 1,306.2 1,383.2 1,544.9 1,483.9 1,338.1 1,258.7 1,345.5 1,576.4 1,798.9 1,933.2 1,865.8 1,969.0 1,129.3 1,142.9 1,182.5 1,227.2 1,259.7 1,290.7 1,336.1 1,381.3 1,458.5 1,516.4 1,655.5 1,797.1 1,913.5 2,070.0 2,233.4 2,276.6 2,503.9 2,631.7 ¥340.4 ¥300.4 ¥258.8 ¥226.4 ¥174.0 ¥103.2 ¥29.9 1.9 86.4 ¥32.4 ¥317.4 ¥538.4 ¥568.0 ¥493.6 ¥434.5 ¥343.5 ¥638.1 ¥662.7 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 635.1 658.0 682.4 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 453.6 474.8 501.5 50.1 4,001.8 45.3 4,351.0 55.7 4,643.3 62.4 4,920.6 66.6 5,181.5 81.4 5,369.2 99.2 5,478.2 123.7 5,605.5 149.8 5,628.7 160.7 5,769.9 159.7 6,198.4 160.8 6,760.0 155.2 7,354.7 175.3 7,905.3 186.3 8,451.4 181.5 8,950.7 183.3 9,983.7 180.9 10,438.4 2,999.7 3,248.4 3,433.1 3,604.4 3,734.1 3,772.3 3,721.1 3,632.4 3,409.8 3,319.6 3,540.4 3,913.4 4,295.5 4,592.2 4,829.0 5,035.1 5,800.6 5,958.2 329.2 309.6 484.3 711.2 ¥155.1 ¥401.6 235.9 212.4 393.4 613.2 ¥157.5 ¥400.9 93.4 97.3 90.9 98.0 2.4 9,093.7 ¥.7 10,618.6 5,131.3 6,386.4 from Final Monthly Treasury Statement for fiscal 2008 released on October 14, 2008. from current issue Monthly Treasury Statement. Outlays Surplus or deficit (¥) Receipts Outlays 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00032 Fmt 3401 Surplus or deficit (¥) Gross Federal Held by the public NOTE.—Data for fiscal 2009 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2009, issued July 28, 2008. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2009, issued February 4, 2008. Sources: Department of the Treasury and Office of Management and Budget. 32 VerDate Aug 31 2005 Federal debt (end of period) Receipts Fiscal year or period 1992 ...................................... 1993 ...................................... 1994 ...................................... 1995 ...................................... 1996 ...................................... 1997 ...................................... 1998 ...................................... 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ....................................... 2006 ...................................... 2007 ...................................... 2008 1 .................................... 2009 (estimates) ................... Cumulative total, first 2 months: 2 Fiscal year 2008 ................... Fiscal year 2009 ................... On-budget Sfmt 3401 E:\HR\OC\ECOIND.032 ECOIND g:\graphics\eecoind.032 Total FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In the second month of fiscal 2009, receipts were $19.6 billion lower than a year earlier and outlays were $226.9 billion higher. [Billions of dollars] On-budget and off-budget receipts Total mstockstill on PROD1PC66 with ECOIND 1992 1993 1994 1995 1996 1997 1998 1999 Individual income taxes Corporation income taxes On-budget and off-budget outlays National defense Other Department of Defense, military Total Total International affairs Health Medicare Income Social security security Net interest Other ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7 413.7 428.3 461.5 484.5 509.4 539.4 571.8 611.8 101.4 99.0 113.8 120.2 115.5 120.3 132.9 151.7 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 298.4 291.1 281.6 272.1 265.8 270.5 268.2 274.8 286.8 278.5 268.6 259.4 253.1 258.3 255.8 261.2 16.1 17.2 17.1 16.4 13.5 15.2 13.1 15.2 89.5 99.4 107.1 115.4 119.4 123.8 131.4 141.1 119.0 130.6 144.7 159.9 174.2 190.0 192.8 190.4 199.6 210.0 217.2 223.8 229.7 235.0 237.8 242.5 287.6 304.6 319.6 335.8 349.7 365.3 379.2 390.0 199.3 198.7 202.9 232.1 241.1 244.0 241.1 229.8 172.2 158.0 171.7 160.3 167.3 157.4 189.0 218.2 2000 ............................................ 2001 ............................................ 2002 ............................................ 2003 ............................................ 2004 ............................................ 2005 ............................................ 2006 ............................................ 2007 ............................................ 20081 ........................................... 2009 (estimates) ......................... Cumulative total, first 2 months: 2 Fiscal year 2008 ......................... Fiscal year 2009 ......................... 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,568.2 2,523.9 2,651.4 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,163.5 1,145.7 1,250.4 207.3 151.1 148.0 131.8 189.4 278.3 353.9 370.2 304.3 304.1 652.9 694.0 700.8 713.0 733.4 794.1 837.8 869.6 900.4 931.5 160.9 152.0 146.2 144.1 148.5 154.2 171.6 164.9 173.4 165.5 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.2 2,978.7 3,133.2 294.4 304.8 348.5 404.8 455.8 495.3 521.8 552.6 624.1 682.1 281.1 290.2 331.9 387.2 436.5 474.1 499.3 529.8 594.7 656.7 17.2 16.5 22.4 21.2 26.9 34.6 29.5 28.5 28.8 39.9 154.5 172.3 196.5 219.6 240.1 250.6 252.8 266.4 280.6 301.4 197.1 217.4 230.9 249.4 269.4 298.6 329.9 375.4 390.8 411.9 253.7 269.8 312.7 334.6 333.1 345.8 352.5 366.0 432.7 431.3 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.2 617.0 656.1 222.9 206.2 170.9 153.1 160.2 184.0 226.6 237.1 248.9 228.0 239.9 243.4 273.3 302.7 311.9 339.9 393.8 318.1 355.7 382.5 329.2 309.6 161.0 146.4 8.7 2.1 130.5 135.2 29.0 25.9 484.3 711.2 112.2 117.0 107.2 111.7 2.6 8.6 46.9 49.0 70.9 66.6 57.9 65.0 98.5 104.2 39.8 41.7 55.4 259.1 1 Data from Final Monthly Treasury Statement for fiscal 2008 released on October 14, 2008. 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. 2 Data NOTE.—Data for fiscal 2009 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2009, issued July 28, 2008. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2009, issued February 4, 2008. Sources: Department of the Treasury and Office of Management and Budget. 33 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 third quarter of 2008, according to preliminary estimates, Federal current receipts rose $118.2 billion (annual rate); while Federal current expenditures rose $11.8 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Total Total 1 Calendar year: 1998 ................. 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2007 ................ 2005: I ............... II ............. III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I ............... II ............. III ............ IV ............ 2008: I ............... II r ............ III r ........... 1 Includes mstockstill on PROD1PC66 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 2,266.9 2,510.4 2,651.2 2,225.7 2,264.1 2,214.5 2,363.3 2,453.6 2,487.6 2,531.9 2,568.6 2,612.8 2,648.1 2,664.9 2,679.2 2,672.5 2,478.8 2,597.0 1,116.8 1,195.7 1,313.6 1,252.2 1,075.5 1,070.8 1,152.3 1,383.0 1,550.2 1,644.5 1,338.8 1,369.2 1,375.8 1,448.0 1,504.7 1,535.1 1,570.9 1,590.2 1,615.2 1,648.2 1,654.4 1,660.0 1,634.9 1,436.0 1,567.6 Personal current taxes 825.8 893.0 999.1 994.5 830.5 774.5 797.4 930.7 1,049.9 1,167.3 894.9 917.8 944.2 965.8 1,018.8 1,031.6 1,056.0 1,093.2 1,139.5 1,157.1 1,178.1 1,194.7 1,201.2 999.8 1,141.6 Taxes on production and imports 81.1 83.9 87.8 85.8 87.3 89.7 94.6 99.2 98.0 97.7 97.1 101.2 100.0 98.5 97.8 98.2 98.6 97.4 97.7 96.9 98.2 98.0 95.8 96.9 95.2 Taxes on corporate income 204.2 213.0 219.4 164.7 150.5 197.8 250.3 341.0 388.9 365.4 335.4 339.8 318.0 370.6 377.3 394.4 404.6 379.5 365.6 381.5 365.1 349.5 322.5 324.4 315.9 613.8 651.6 691.7 717.5 734.3 758.9 805.2 850.0 902.4 942.3 835.0 842.5 857.0 865.7 893.6 895.7 902.6 917.7 937.1 936.4 943.3 952.3 968.9 971.8 974.8 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 24.0 25.7 29.2 24.1 25.0 23.8 23.1 23.7 24.9 26.0 28.2 28.4 29.0 29.8 29.5 29.9 31.7 32.4 21.5 22.7 25.7 27.1 24.8 25.0 28.8 15.0 35.7 37.5 31.0 31.8 ¥35.8 32.8 34.7 35.5 36.0 36.5 37.0 37.2 37.6 38.2 39.4 40.0 22.4 0.1 ¥.3 ¥2.3 ¥5.5 ¥1.6 2.3 ¥1.2 ¥5.0 ¥3.6 ¥2.2 ¥3.2 ¥4.4 ¥6.4 ¥6.2 ¥3.1 ¥3.5 ¥3.6 ¥4.0 ¥5.1 ¥2.8 ¥.2 ¥.8 ¥.5 ¥.6 ¥.1 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 2,558.6 2,711.6 2,880.5 2,504.4 2,533.6 2,579.2 2,617.1 2,661.5 2,712.5 2,750.4 2,721.8 2,837.9 2,859.5 2,909.2 2,915.6 3,003.2 3,128.4 3,140.2 Consumption expenditures 454.6 475.1 499.3 531.9 591.5 662.7 723.7 766.3 811.8 856.1 758.2 760.3 782.1 764.5 805.9 809.2 816.2 816.0 832.5 851.1 869.1 871.6 898.0 918.2 954.1 Current transfer payments 946.5 986.1 1,038.1 1,131.4 1,243.0 1,328.7 1,390.6 1,478.0 1,568.1 1,666.7 1,458.7 1,461.7 1,483.0 1,508.7 1,535.4 1,566.5 1,584.6 1,586.0 1,650.2 1,652.6 1,671.4 1,692.5 1,729.2 1,860.1 1,795.3 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00034 Fmt 3401 298.8 282.7 283.3 258.6 229.1 212.9 221.0 255.4 282.3 312.6 233.4 253.4 253.8 281.0 266.4 287.4 301.9 273.3 309.6 310.5 323.9 306.4 329.4 302.3 342.6 Subsidies 35.0 43.8 43.8 47.6 37.5 47.8 44.2 58.9 49.4 45.2 54.2 58.2 60.4 62.9 53.8 49.4 47.8 46.5 45.6 45.2 44.8 45.1 46.6 47.8 48.3 Net Federal Government saving 38.8 103.6 189.5 46.7 ¥247.9 ¥372.1 ¥370.6 ¥291.7 ¥201.1 ¥229.3 ¥278.7 ¥269.5 ¥364.7 ¥253.8 ¥207.9 ¥225.0 ¥218.4 ¥153.2 ¥225.2 ¥211.4 ¥244.3 ¥236.3 ¥330.7 ¥649.6 ¥543.2 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2008:II. 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 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 United States Canada Japan Germany France Consumer prices (1982–84=100; NSA) United Kingdom Italy United States 1 Canada Japan France Germany Italy United Kingdom .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. 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 98.4 100.0 100.1 101.7 103.5 103.3 103.2 102.5 102.7 108.5 101.2 100.0 103.0 108.0 109.4 114.3 117.5 93.8 96.0 100.0 101.3 100.0 99.7 102.0 102.3 102.8 r 104.3 94.4 95.5 100.9 101.1 100.0 100.4 103.4 106.9 113.2 120.1 98.5 98.4 102.6 101.4 100.0 99.5 99.1 98.4 100.7 100.5 99.8 101.4 103.2 101.6 100.0 99.3 100.2 99.1 99.8 100.2 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 157.8 160.5 164.9 169.0 172.8 177.6 180.9 184.9 188.5 192.7 122.2 121.8 121.0 120.1 119.0 118.7 118.7 118.3 118.7 118.7 154.2 155.0 157.6 160.2 163.3 166.7 170.3 173.2 176.2 178.8 139.7 140.5 142.5 145.3 147.4 148.9 151.4 153.7 156.2 159.7 222.5 226.2 231.9 238.3 244.3 250.9 256.4 261.3 266.9 271.8 191.4 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 242.7 2007: Sept r .................. Oct r .................... Nov r ................... Dec r ................... 112.3 111.8 112.3 112.4 103.1 103.2 102.9 100.0 118.1 120.4 118.6 119.4 104.1 106.7 104.5 105.0 122.3 122.2 121.8 123.0 101.4 100.7 99.5 99.4 100.2 101.0 100.5 100.4 208.490 208.936 210.177 210.036 193.4 192.9 193.4 193.5 119.0 119.4 119.1 119.4 179.4 179.8 180.8 181.5 160.2 160.7 161.4 162.4 272.7 273.5 274.5 275.3 244.4 245.4 246.4 247.8 2008: Jan r ................... 112.6 100.6 118.7 105.3 123.8 100.4 100.1 211.080 193.2 119.1 181.3 Feb r ................... 112.3 100.1 120.6 105.7 123.8 100.4 100.2 211.693 193.9 118.9 181.7 Mar r ................... 112.0 98.9 116.5 104.3 123.8 100.0 99.9 213.528 194.6 119.5 183.0 Apr r ................... 111.4 99.6 116.3 105.7 124.4 100.6 99.8 214.823 196.1 119.4 183.7 May r .................. 111.2 99.1 119.6 102.5 121.8 98.8 99.0 216.632 198.0 120.3 184.6 June r ................. 111.3 99.1 117.0 101.7 122.2 99.0 98.7 218.815 199.4 120.9 185.3 July r .................. 111.4 100.6 118.5 103.0 120.3 98.2 98.3 219.964 200.1 121.1 184.9 Aug r ................... 110.1 99.7 114.3 102.5 123.9 98.3 97.6 219.086 199.8 121.5 184.9 Sept r .................. 105.9 99.7 115.5 101.7 119.9 95.7 97.3 218.783 199.9 121.5 184.7 Oct p ................... 107.3 .............. 111.9 99.0 117.5 94.6 95.7 216.573 197.9 121.4 184.6 Nov p ................... .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 161.9 162.7 163.4 163.1 164.0 164.5 165.4 165.0 164.8 164.5 163.7 276.6 246.5 277.2 248.4 278.6 249.2 279.2 251.4 280.7 252.7 281.9 254.7 283.3 254.2 283.8 255.2 282.9 256.6 282.9 255.8 281.9 .............. 1 Data relate to all urban consumers. NOTE.—See Note, p. 17, for information on U.S. industrial production series. Source: National sources as reported by Department of Commerce (Bureau of Economic Analysis and International Trade Administration, Office of Trade and Industry Information) and Council of Economic Advisers. U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES [Billions of dollars; monthly data seasonally adjusted] Goods: Exports (f.a.s. value) Goods: Imports (customs value) Census basis (by end-use category) Services (BOP basis) Balance of trade (exports minus imports) Census basis (by end-use category) BOP basis Period mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 BOP basis ............. 670.4 ............. 684.0 ............. 772.0 ............. 718.7 ............. 682.4 ............. 713.4 ............. 807.5 ............. 894.6 ............. 1,023.1 ............. 1,148.5 Total, Census basis 1 Auto- ConIndusmo- sumer Foods, trial Capital tive goods feeds, supgoods vehi- (nonand plies except cles, food) bevand auto- parts except erages mate- motive and autorials enmogines tive 682.1 695.8 781.9 729.1 693.1 724.8 818.8 906.0 1,036.6 1,162.5 46.4 46.0 47.9 49.4 49.6 55.0 56.6 59.0 66.0 84.3 148.3 147.5 172.6 160.1 156.8 173.0 203.9 233.0 276.0 316.3 299.4 72.4 80.3 310.8 75.3 80.9 356.9 80.4 89.4 321.7 75.4 88.3 290.4 78.9 84.4 293.7 80.6 89.9 331.4 89.2 103.2 363.3 98.4 115.3 415.0 107.0 129.1 447.4 121.0 146.1 BOP basis IndusAutoFoods, trial Capital motive Total, feeds, supgoods vehiCensus and plies except cles, basis 1 bevand auto- parts erages mate- motive and enrials gines Consumer goods (nonfood) except automotive Exports Imports Goods, Census basis Goods Services Goods and services 918.6 1,031.8 1,226.7 1,148.2 1,167.4 1,264.3 1,477.1 1,681.8 1,861.4 1,967.9 911.9 1,024.6 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 1,957.0 41.2 43.6 46.0 46.6 49.7 55.8 62.1 68.1 74.9 81.7 200.1 221.4 299.0 273.9 267.7 313.8 412.8 523.8 602.0 634.7 269.5 295.7 347.0 298.0 283.3 295.9 343.6 379.3 418.3 444.5 148.7 179.0 195.9 189.8 203.7 210.1 228.2 239.4 256.6 258.9 217.0 241.9 281.8 284.3 307.8 333.9 372.9 407.2 442.6 474.9 262.8 281.9 298.6 286.2 292.3 304.3 353.1 389.1 433.9 497.2 180.7 199.2 223.7 221.8 231.1 250.4 291.2 313.5 348.9 378.1 ¥229.8 ¥328.8 ¥436.1 ¥411.9 ¥468.3 ¥532.4 ¥650.9 ¥767.5 ¥817.3 ¥794.5 ¥248.2 ¥347.8 ¥454.7 ¥429.5 ¥485.0 ¥550.9 ¥669.6 ¥787.1 ¥838.3 ¥819.4 82.1 82.7 74.9 64.4 61.2 54.0 61.8 75.6 85.0 119.1 ¥166.1 ¥265.1 ¥379.8 ¥365.1 ¥423.7 ¥496.9 ¥607.7 ¥711.6 ¥753.3 ¥700.3 2007: Sept ... Oct .... Nov .... Dec .... 99.5 100.4 101.0 101.8 100.4 101.4 102.4 102.9 8.1 7.7 8.0 8.0 27.6 27.6 28.0 28.7 38.1 39.0 38.8 39.4 10.4 10.5 10.8 10.1 12.6 12.5 12.3 12.8 166.2 168.1 172.7 171.4 165.1 167.2 172.0 170.5 7.0 6.9 7.1 6.9 53.5 55.1 59.2 60.3 37.9 37.7 37.9 37.7 22.1 22.2 22.1 20.7 39.4 40.0 40.3 39.7 43.3 43.7 44.2 44.3 32.0 32.4 32.4 32.4 ¥64.7 ¥65.8 ¥69.6 ¥67.6 ¥66.7 ¥67.7 ¥71.7 ¥69.5 11.3 11.4 11.8 11.9 ¥55.5 ¥56.3 ¥59.9 ¥57.6 2008: Jan ... Feb ... Mar ... Apr ... May .. June July .. Aug r .. Sept p 104.7 108.1 105.0 110.1 111.0 116.3 120.8 117.9 108.1 105.5 109.0 105.5 110.8 111.5 117.0 121.7 119.0 108.5 8.6 9.1 9.6 9.9 9.7 10.4 10.4 10.2 9.1 29.7 31.8 31.5 32.7 34.2 36.7 38.3 37.4 33.3 39.4 39.3 37.8 40.1 39.4 40.6 41.5 42.3 38.1 10.3 10.8 9.4 10.0 10.2 10.8 12.2 10.5 10.3 13.3 13.4 12.6 13.4 13.4 14.1 14.9 14.0 13.5 174.8 180.6 173.4 183.0 183.1 187.5 194.9 188.9 177.7 174.0 178.9 171.8 181.4 182.4 186.8 193.9 188.3 176.2 7.1 7.2 7.1 7.4 7.6 7.5 7.5 7.8 7.6 64.0 64.5 61.5 67.5 67.1 73.4 79.9 73.8 65.7 37.4 38.3 37.9 39.1 39.8 38.4 39.0 38.3 38.8 21.2 22.8 20.3 21.5 20.5 20.5 20.4 19.3 18.6 39.1 41.0 39.5 40.2 41.8 41.3 41.1 43.6 40.1 44.7 44.5 44.7 45.0 45.9 46.5 47.3 47.4 47.3 33.3 33.4 33.2 33.6 34.0 34.1 34.4 35.4 34.2 ¥68.6 ¥69.9 ¥66.3 ¥70.6 ¥70.8 ¥69.8 ¥72.3 ¥69.3 ¥67.7 ¥70.1 ¥72.5 ¥68.4 ¥73.0 ¥72.1 ¥71.3 ¥74.1 ¥71.1 ¥69.6 11.4 11.0 11.4 11.4 11.9 12.4 12.8 12.0 13.1 ¥58.7 ¥61.4 ¥57.0 ¥61.5 ¥60.2 ¥58.8 ¥61.3 ¥59.1 ¥56.5 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the second quarter of 2008, the goods deficit rose to $216.3 billion, from $211.0 billion in the first quarter. The current account deficit rose to $183.1 billion in the second quarter, from $175.6 billion in the first quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period Exports Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Other services, net Balance on goods and services Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account .............. .............. .............. .............. ............. ............. ............. ............. ............. ............. 670,416 683,965 771,994 718,712 682,422 713,415 807,516 894,631 1,023,109 1,148,481 ¥918,637 ¥1,031,784 ¥1,226,684 ¥1,148,231 ¥1,167,377 ¥1,264,307 ¥1,477,094 ¥1,681,780 ¥1,861,380 ¥1,967,853 ¥248,221 ¥347,819 ¥454,690 ¥429,519 ¥484,955 ¥550,892 ¥669,578 ¥787,149 ¥838,270 ¥819,373 5,220 2,593 317 ¥2,296 ¥7,158 ¥11,981 ¥13,518 ¥10,536 ¥13,602 ¥16,768 10,210 7,085 2,486 ¥3,254 ¥4,245 ¥11,475 ¥14,275 ¥13,006 ¥10,788 2,181 66,651 73,051 72,052 69,943 72,633 77,433 89,640 99,124 109,377 133,702 ¥166,140 ¥265,090 ¥379,835 ¥365,126 ¥423,725 ¥496,915 ¥607,730 ¥711,567 ¥753,283 ¥700,258 261,819 293,925 350,918 290,797 280,942 320,456 413,739 535,263 685,150 817,779 ¥257,554 ¥280,037 ¥329,864 ¥259,075 ¥253,544 ¥275,147 ¥346,519 ¥462,905 ¥627,956 ¥736,030 4,265 13,888 21,054 31,722 27,398 45,309 67,219 72,358 57,194 81,749 ¥53,187 ¥50,428 ¥58,645 ¥51,295 ¥64,948 ¥71,794 ¥84,482 ¥89,784 ¥92,027 ¥112,705 ¥215,062 ¥301,630 ¥417,426 ¥384,699 ¥461,275 ¥523,400 ¥624,993 ¥728,993 ¥788,116 ¥731,214 2005: I ........ II ....... III ..... IV ..... 214,857 223,728 223,603 232,443 ¥399,862 ¥412,411 ¥422,752 ¥446,754 ¥185,005 ¥188,683 ¥199,149 ¥214,312 ¥2,724 ¥2,699 ¥2,211 ¥2,902 ¥4,155 ¥2,791 ¥2,884 ¥3,177 25,886 23,442 23,899 25,893 ¥165,997 ¥170,729 ¥180,345 ¥194,497 124,653 128,487 136,138 145,986 ¥104,069 ¥110,615 ¥115,595 ¥132,627 20,584 17,872 20,543 13,358 ¥28,644 ¥24,964 ¥9,090 ¥27,085 ¥174,057 ¥177,821 ¥168,892 ¥208,223 2006: I ........ II ....... III ..... IV ..... 244,679 253,332 259,277 265,821 ¥453,286 ¥465,016 ¥477,900 ¥465,178 ¥208,607 ¥211,684 ¥218,623 ¥199,356 ¥3,121 ¥3,482 ¥3,641 ¥3,358 ¥2,853 ¥2,885 ¥2,622 ¥2,429 25,493 26,209 27,414 30,258 ¥189,087 ¥191,841 ¥197,471 ¥174,885 155,683 170,011 176,251 183,205 ¥141,031 ¥153,960 ¥164,969 ¥167,996 14,652 16,051 11,282 15,209 ¥21,516 ¥24,116 ¥24,716 ¥21,679 ¥195,952 ¥199,906 ¥210,906 ¥181,355 2007: I ........ II ....... III ..... IV ..... 270,318 279,488 295,494 303,180 ¥473,681 ¥485,375 ¥496,698 ¥512,099 ¥203,363 ¥205,887 ¥201,204 ¥208,919 ¥3,286 ¥4,085 ¥4,251 ¥5,146 ¥1,587 ¥806 1,064 3,509 28,692 31,960 36,276 36,773 ¥179,543 ¥178,819 ¥168,114 ¥173,783 186,746 202,171 213,520 215,343 ¥173,959 ¥192,492 ¥190,562 ¥179,016 12,787 9,679 22,958 36,327 ¥30,174 ¥24,953 ¥27,796 ¥29,784 ¥196,930 ¥194,093 ¥172,952 ¥167,241 2008: I ........ II p ..... 317,813 337,312 ¥528,845 ¥553,641 ¥211,032 ¥216,328 ¥4,398 ¥5,340 3,115 4,471 199,827 ¥166,615 194,873 ¥167,529 33,212 27,344 ¥31,742 ¥29,941 ¥175,640 ¥183,147 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 mstockstill on PROD1PC66 with ECOIND Imports Services 1 Adjusted from Census data for differences in timing and coverage; excludes military. under U.S. military agency sales contracts (exports) minus direct defense expenditures (imports). 2 Transfers 35,205 ¥177,110 36,646 ¥180,551 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 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00036 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.036 ECOIND g:\graphics\eecoind.036 Goods 1 U.S. INTERNATIONAL TRANSACTIONS—Continued In the financial account, U.S. claims on foreigners reported by U.S. banks decreased $225.7 billion in the second quarter of 2008, following an increase of $221.3 billion in the first quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, decreased $233.6 billion in the second quarter, following an increase of $79.1 billion in the first quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account Period Total mstockstill on PROD1PC66 with ECOIND 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2005: ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... I .... II ... III IV .. 2006: I .... II ... III IV .. 2007: I .... II ... III IV .. 2008: I .... II p ¥766 ¥353,829 ¥4,939 ¥504,062 ¥1,010 ¥560,523 ¥1,270 ¥382,616 ¥1,470 ¥294,646 ¥3,480 ¥325,424 ¥2,369 ¥1,000,870 ¥4,036 ¥546,631 ¥3,880 ¥1,251,749 ¥1,843 ¥1,289,854 ¥2,594 ¥129,175 ¥510 ¥222,397 ¥467 ¥204,361 ¥465 9,302 ¥1,716 ¥359,608 ¥1,005 ¥234,828 ¥533 ¥286,769 ¥626 ¥370,543 ¥543 ¥442,065 ¥112 ¥523,556 ¥617 ¥170,476 ¥571 ¥153,757 ¥600 ¥260,644 ¥652 110,431 U.S. official reserve assets 4 ¥6,783 8,747 ¥290 ¥4,911 ¥3,681 1,523 2,805 14,096 2,374 ¥122 5,331 ¥797 4,766 4,796 513 ¥560 1,006 1,415 ¥72 26 ¥54 ¥22 ¥276 ¥1,267 Other U.S. Government assets Statistical discrepancy Foreign-owned assets in the U.S., excluding financial derivatives [increase/financial inflow (+)] U.S. private assets ¥422 ¥346,624 2,750 ¥515,559 ¥941 ¥559,292 ¥486 ¥377,219 345 ¥291,310 537 ¥327,484 1,710 ¥1,005,385 5,539 ¥566,266 5,346 ¥1,259,469 ¥22,273 ¥1,267,459 2,591 ¥137,097 989 ¥222,589 1,501 ¥210,628 459 4,047 1,049 ¥361,170 1,765 ¥236,033 1,570 ¥289,346 962 ¥372,920 445 ¥442,438 ¥596 ¥522,985 623 ¥171,045 ¥22,744 ¥130,990 3,265 ¥263,634 ¥41,265 152,963 Total 420,794 742,210 1,038,224 782,870 795,161 858,303 1,533,201 1,247,347 2,061,113 2,057,703 234,182 304,880 425,404 282,881 537,649 405,008 524,858 593,598 692,713 718,112 266,476 380,402 459,017 26,301 4 Consists of gold, special drawing rights (SDRs), foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF). Foreign official assets ¥19,903 43,543 42,758 28,059 115,945 278,069 397,755 259,268 487,939 411,058 25,052 81,292 54,736 98,188 130,427 127,303 121,843 108,366 163,270 88,822 13,469 145,497 173,533 144,417 Other foreign assets 440,697 698,667 995,466 754,811 679,216 580,234 1,135,446 988,079 1,573,174 1,646,645 209,130 223,588 370,668 184,693 407,222 277,705 403,015 485,232 529,443 629,290 253,007 234,905 285,484 ¥118,116 Financial derivatives, net Total (sum of the items with sign reversed) .................. .................. .................. .................. .................. .................. .................. .................. 29,710 6,496 .................. .................. .................. .................. 1,633 14,090 15,134 ¥1,147 14,795 ¥1,007 5,942 ¥13,234 ¥8,001 .................. 148,863 68,421 ¥59,265 ¥14,285 ¥37,770 ¥6,000 95,030 32,313 ¥47,078 ¥41,287 71,644 95,848 ¥51,683 ¥83,495 17,994 16,641 ¥41,784 ¥39,927 ¥67,970 656 71,627 ¥45,600 ¥14,131 47,067 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 12,224 ¥1,323 ¥21,122 10,222 10,054 587 ¥19,426 8,787 12,192 722 ¥21,805 8,892 9,271 ¥3,464 U.S. official reserve assets, net 4 (unadjusted, end of period) 81,761 71,516 67,647 68,654 79,006 85,938 86,824 65,127 65,895 70,565 78,942 76,594 71,273 65,127 65,354 67,935 66,217 65,895 66,551 66,127 69,070 70,565 75,764 75,740 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Aug 31 2005 21:12 Dec 12, 2008 Jkt 045798 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 mstockstill on PROD1PC66 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 45–798 21:12 Dec 12, 2008 Jkt 045798 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND
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