Full text of Business Conditions Digest : September 1982
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ITIONS
U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Robert G. Dederick, Under Secretary for Economic Affairs
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Charles A. Waite, Associate Director for
National Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication are—
Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee consisting of the following persons:
Beatrice N. Vaccara, Chairman, Bureau of Industrial Economics, U.S. Department of
Commerce
John H. Auten, U.S. Department of the Treasury
Norman Frumkin, Office of Management and Budget
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
J. Cortland Peret, Board of Governors of the Federal Reserve System
Adrian W. Throop, Council of Economic Advisers
Charles A. Waite, Bureau of Economic Analysis, U.S. Department of Commerce
ABOUT THIS REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report.
Annual subscription price: $55.00 domestic,
$68.75 foreign. Single copy price: $5.50 domestic, $6.90 foreign. Foreign airmail rates are
available on request. Address correspondence
concerning subscriptions to Superintendent of
Documents, U.S. Government Printing Office,
Washington, D.C. 20402. Make checks payable
to Superintendent of Documents.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs, and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
BUSINESS CONDITIONS DIGEST
IICII
New Features and Changes for This Issue
METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
Reference Turning Dates
Part I. Cyclical Indicators
Part II. Other Important Economic Measures
How To Read Charts
How To Locate a Series
Summary of Recent Data and Current Changes
1
1
1
1
4
5
5
6
SEPTEMBER 1982
Data Through August
Volume 22, Number 9
PART L
CYCLICAL INDICATORS
COMPOSITE INDEXES AND
THEIR COMPONENTS
A3!
[ A4J
Chart
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
Table
10
12
14
15
60
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
—
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
Bl I
BjLj
B3_j
B4J
B51
, |6J
[J37_ j
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
DIFFUSION INDEXES
AND RATES OF CHANGE
fCT]
JJC2 |
[_CTJ
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
The Secretary of Commerce has determined
that the publication of this periodical is necessary in the transaction of the public business
required by law of this Department. Use of funds
for printing this periodical has been approved
by the Director of the Office of Management
and Budget through April 1, 1985.
BCII
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
AND PRODUCT
Al
A2
A3
A4
A5
A6
A7__
^A8j
rm
Bl
B2 I
GNP and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
Chart
.
Table
40
41
42
43
44
45
46
47
80
80
81
81
82
82
82
83
48
49
84
87
51
89
52
53
90
90
56
57
92
93
58
59
59
94
95
95
PRICES, WAGES,
AND PRODUCTIVITY
Price Movements
Wages and Productivity
Df
LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT
| Cl |
Civilian Labor Force and Major Components
JEM
GOVERNMENT ACTIVITIES
I PI I
I D2 I
Receipts and Expenditures
Defense Indicators
U.S. INTERNATIONAL TRANSACTIONS
Ell
E2 I
Merchandise Trade
Goods and Services Movements
Fl I
F2 I
F3.J
Industrial Production
Consumer Prices
Stock Prices
INTERNATIONAL COMPARISONS
PART III. APPENDIXES
A. MCD and Related Measures of Variability (January 1981 issue)
QCD and Related Measures of Variability (January 1981 issue]
B. Current Adjustment Factors (July 1982 issue)
C. Historical Data for Selected Series
D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions (July 1982 issue)
F. Specific Peak and Trough Dates for Selected Indicators (June 1982 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
97
105
110
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are madf from
time to time to in-
Changes in this issue are as follows:
corporate recent find-
1. The series on sales of retail stores in 1972 dollars
(series 59) has been revised for the period 1959 to date to
reflect the recent revision of the implicit price deflator.
On the basis of this revision, series 57 (manufacturing
and trade sales in 1972 dollars) and series 77 (ratio of
constant-dollar inventories to sales, manufacturing and
trade) have been revised over the same period.
Further information concerning these revisions may be
obtained from the U.S. Department of Commerce, Bureau of
Economic Analysis, National Income and Wealth Division and
Statistical Indicators Division.
2. Series 110 (total funds raised by private nonfinancial borrowers in credit markets) has been revised for the
period 1977 to date. This revision reflects the source
agency's annual updating of these statistics.
Ings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etfc. Changes may
result In revision^ of
data, additions of
deletions of series,
changes in placement of
series in relation to
other series, changes
Further information concerning this revision may be
obtained from the Board of Governors of the Federal Reserve
System, Division of Research and Statistics, Flow of Funds
Section.
3. Series 33 (net change in mortgage debt held by
financial institutions and life insurance companies) has
been revised for the period 1981 to date. This revision
reflects the annual updating of data on mortgages held by
life insurance companies.
Further information concerning this revision may be
obtained from the American Council of Life Insurance,
1850 K Street, N.W., Washington, D.C. 20006.
4. Appendix C contains historical data for series 16,
18, 22, 25, 31, 38, 51-53, 55, 62, 65, 68-71, 78-81, 86-89,
223, 500-502, and 510-512.
5. Appendix G contains recession comparisons for series
45, 48, 57, 77, 92, 106, 108, and 914.
The October issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on November 2.
II!
In composltfon of
etc.
SIX BEA PROJECTS
FOR ECONOMIC
ANALYSIS
BUSINESS CONDITIONS DIGEST A monthly report for analyzing
economic fluctuations over a short span of years.
This report brings together many of the economic time series most useful to business analysts and
forecasters. In the cyclical indicators section, each of about 110 business cycle indicators is assigned
a three-way timing classification according to its cyclical behavior at peaks, troughs, and all turns.
This section also includes important analytical measures, such as composite indexes of leading, coincident, and lagging indicators and selected diffusion indexes. A second section contains other important economic data on prices, wages, productivity, government and defense-related activities, U.S. international transactions, and international comparisons.
About 300 time series are shown in analytical graphs that help to evaluate business conditions and
prospects. Current data are shown in accompanying tables. Appendixes provide historical data,
seasonal adjustment factors, measures of variability, cyclical comparisons, and other useful information. A computer tape containing data for most of the series is available for purchase.
HANDBOOK OF CYCLICAL INDICATORS A reference volume containing valuable background information for users of Business Conditions Digest.
This recurrent report provides descriptive and analytical information on the economic time series
presented monthly in Business Conditions Digest. Included are series descriptions, historical
data, and measures of variability. For the cyclical indicators and composite indexes, special tables
show detailed scoring measures and average timing at cyclical peaks and troughs. Verbal and
algebraic explanations of the composite index methodology are also provided.
LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years: 1860-1970.
This report provides a comprehensive, long-range view of the U.S. economy by presenting relevant
statistical time series in easy-to-follow analytical charts and convenient data tables. It is a basic
research document for economists, historians, investors, teachers, and students, bringing together in
one volume a complete statistical basis for the study of long-term economic trends. A computer tape
file of the time series included in the report is available for purchase.
COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS The source
statements for FORTRAN IV programs used by BEA in its analysis of
time series are available on a single computer tape.
SEASONAL ADJUSTMENT PROGRAMS—Two variants of the Census computer program
measure and analyze seasonal, trading-day, cyclical, and irregular fluctuations. They are particularly
useful in analyzing economic fluctuations that take place within a year. The X-ll variant is used for
adjusting monthly data and the X-11Q for quarterly data. These programs make additive as well as
multiplicative adjustments and compute many summary and analytical measures.
INDEX PROGRAM—This program computes composite and diffusion indexes and summary
measures of the properties of each index.
TIME SERIES PROCESSOR—This program, through simple commands, performs a variety of
arithmetic, statistical, and manipulative operations on time series data.
SURVEY OF CURRENT BUSINESS A monthly report for analyzing
current economic developments.
This report provides a useful combination of current data for nearly 2,000 statistical series and
significant articles analyzing economic developments. These data and analyses include such areas as
the national income and product accounts, the balance of payments accounts, plant and equipment
expenditures, regional personal income, and the input-output accounts.
For further information (including prices and ordering instructions) on any of these items,
please write to the Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C.
20230.
BUSINESS STATISTICS A biennial reference volume containing
statistical series reported currently in the Survey of Current Business.
This report provides historical data back to 1947 for nearly 2,600 time series. The series are accompanied by concise descriptions as to their composition, methods of compilation, comparability, revisions, and availability. Also listed are the names and addresses of organizations that provide the basic
data for the series.
IV
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1956, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1971.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977
Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Reference Turning Dates
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to periodic review by NBER and on occasion are
changed as a result of revisions in important
economic time series. The dates shown in this
publication for the 1948-1970 time period are those
determined by a 1974 review. Since then, NBER has
designated turning points for the 1973-1975 recession and the 1980 recession.
Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity-that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
conformity to business expansions and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
scores relate to cyclical behavior of the series
during the period 1947-70. This analysis produced
a new list of indicators classified by economic
process and typical timing at business cycle peaks
and troughs. (See tables on page 2 and text below
relating to section B.)
This information, particularly the scores relating
to consistency of timing, served as a basis for the
selection of series to be included in the composite
indexes. The indexes incorporate the best-scoring
series from many different economic-process
groups and combine those with similar timing
behavior, using their overall performance scores as
weights. Because they use series of historically
tested usefulness and given timing characteristics
(for example, leading at both peaks and troughs),
with diversified economic coverage and a minimum
of duplication, composite indexes give more
reliable signals over time than do any of the
individual indicators. Furthermore, much of the
1
Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
x. Economic
\Process
EMPLOYMENT
II.
PRODUCTION
AND
CyclicalN.
Timing
N.
UNEMPLOYMENT
(18 series)
AND
Capacity
utilization
(2 series)
LEADING (L)
INDICATORS
(62 series)
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)
Comprehensive
employment
U series)
Comprehensive
output and
real income
{4 series)
industrial
production
(4 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(18 series)
TIMING
UNCLASSIFIED
(U)
INCOME
(10 series)
Mi.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
AND
New and
unfilled orders
and deliveries
(6 series)
Consumption
(2 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(5 series)
Residential
construction
(3 series)
Inventory
investment
(4 series)
inventories on
hand and on
order
(1 series)
Consumption
and trade
(4 series)
Backlog of
investment
commitments
{1 series)
Business
Investment
expenditures
(5 series)
Duration of
unemployment
(2 series)
Business
investment
expenditures
(1 series)
Comprehensive
employment
(3 series)
V.
INVENTORIES
CAPITAL
INVESTMENT
(18 series)
Trade
(1 series)
(8 series)
INVENTORY
INVESTMENT
(9 series)
VI.
VM.
MONEY
AND CREDIT
(26 series)
Stock prices
{1 series)
Commodity
prices
(1 series)
Profits and
profit
margins
(7 series)
Cash flows
(2 series)
Money flows
(3 series)
Real money
supply
{2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Sank reserves
(2 serfes)
I nterest rates
(i series)
PRICES, COSTS,
AND PROFITS
(17 series)
Velocity of
money
(2 series)
Interest rates
(2 series)
inventories on
hand and on
order
(4 series)
Business
investment
commitments
(1 series)
Unit labor costs
and labor share
(4 series)
interest rates
(4 series)
Outstanding
debt
(3 series)
Commodity
prices
{I series)
Profit share
(I series)
Interest rates
(I series)
B. Timing at Business Cycle Troughs
>v Economic
\Process
CyclicalV
Timing
N.
LEADING (L)
INDICATORS
(47 series)
1.
EMPLOYMENT
III
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
AND
Marginal
employment
adjustments
(3 series)
Industrial
production
(1 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(4 series)
Residential
construction
(3 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
Consumption
and trade
(3 series)
Business
investment
commitments
(1 series)
Unfilled orders
(1 series)
Business
investment
commitments
(2 series)
Business
investment
expenditures
(6 series)
UNEMPLOYMENT
(18 series)
Marginal
employment
adjustments
ROUGHLY
(2 series)
COINCIDENT(C) Comprehensive
INDICATORS
employment
(23 series)
(4 series)
LAGGING (Lg)
INDICATORS
(40 series)
li.
PRODUCTION
AND
Marginal
employment
adjustments
(1 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)
TIMING
UNCLASSIFIED
(U)
(1 series)
INCOME
(10 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
Inventory
investment
(4 series)
Inventories on
hand and on
order
(5 series)
VII.
PRICES, COSTS, MONEY
AND PROFITS
AND CREDIT
(17 series)
(26 series)
VI.
Stock prices
(I series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)
Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Profits
(2 series)
Money flow
(1 series)
Velocity of
money
(1 series)
Unit labor costs
and labor share
(4 series)
Velocity of
money
U series)
Bank reserves
U series)
Interest rates
(8 series)
Outstanding debt
(3 series)
Bank reserves
(1 series)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
well-established differences in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through +1 at peaks and from -1 through
+3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1977
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags (+) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the post-1970 period can
be determined by inspection of the charts, where the
1973-1975 recession and the 1980 recession are
shaded according to the dates of the NBER reference
cycle chronology.
August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
Section B. Cyclical Indicators by Economic Process expectations for several operating variables are
presented, along with the corresponding indexes
This section covers 111 individual time series, based on actual data, as the last set of diffusion
including the 22 indicators used in the series.
This section also records rates of change for the
construction of the composite indexes. The peak
and trough timing classifications are shown on the three composite indexes (leading, coincident, and
charts in the same manner as described above, but lagging) and for four indicators of aggregate
this section includes series with different timing at economic activity: GNP in constant dollars
peaks and at troughs, as well as series where the (quarterly), industrial production, employee hours
timing is not sufficiently consistent to be classified in nonagricultural establishments, and personal
as either L,C, or Lg according to the probabilistic income less transfers in constant dollars. Rates of
measures and scoring criteria adopted. Such series change are shown for 1- and 3-month spans or for
are labeled U, i.e., unclassified as to timing at 1-quarter spans.
Although movements in diffusion indexes and in
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19 rates of change for the same aggregates are
series at all turns (of the 19, 15 have definite but generally positively correlated, these two measures
different timing at peaks and at troughs). No series present information about two related but distinct
that is classified as U both at peaks and at troughs aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
is included in the list of cyclical indicators.
The classification scheme which groups the change, while rates of change measure the degree
indicators of this section by economic process and as well as the overall direction. As is the case for
cyclical timing is summarized in the two diffusion indexes, cyclical movements in the rates
tabulations on page 2. Cross-classification A is of change tend to lead those of the corresponding
based on the observed behavior of the series at five indexes or aggregates, and thus, they tend to lead
business cycle peaks (November '48, July '53, at the business cycle turns as well.
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national p r o d u c t — p e r s o n a l consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net exports of goods and services-are presented in
sections A2 through A5. Most of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources. It is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to government.
Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial services received in kind by individuals. Net purchases of used goods are also included.
4
Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include all private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.
Government purchases of goods and services
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
of the national production; imports are not, but are
included in the components of GNP and are
therefore deducted. More detail on U.S.
international transactions is provided in section E.
National income (A6) is the incomes that
originate in the production of goods and services
attributable to labor and property supplied by
residents of the United States. Thus, it measures
the factor costs of the goods and services produced. It consists of the compensation of
employees, proprietors' income, rental income of
persons, corporate profits, and net interest.
Saving (A7) is the difference between income
and expenditures during an accounting period.
Total gross saving includes personal saving,
business saving (mainly undistributed corporate
profits and capital consumption allowances), and
government surplus or deficit.
Shares of GNP and national income (AS).-The
major e x p e n d i t u r e c o m p o n e n t s of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income.
Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1971.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.
Section C. Labor Force, Employment, and
Unemployment
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, age, and class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.
Section D. Government Activities
Receipts, expenditures, and their balance (surplus or deficit) are shown quarterly on two levels:
(1) Federal Government and (2) State and local
government. Also shown is a selection of series
from the discontinued Defense Indicators.
These series measure defense activities which
influence short-term changes in the national
economy. Included are series relating to
obligations, contracts, orders, production,
shipments, inventories, outlays, and employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as "intermediate and final
measures of defense activity."
Section E. U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.
Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1971) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1971) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman
number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-l" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman
number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Dotted line indicates anticipated quarterly data over
various spans.
Rates of Change
Solid line indicates percent
changes over 3- or 6-month
spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line indicates percent
changes over 1-month spans.
Broken line with plotting
points
indicates
percent
changes over 1-quarter spans.
Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or-
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Basic data 1
Series title
Timing
classification3
Unit
of
measure
Percent change
June
to
July
Average
1980
4th Q
IstQ
2dQ
June
July
1981
1982
1982
1982
1982
Aug.
1982
1981
July
to
Aug.
1982
1982
4th Q
to
IstQ
1st Q
to
2dQ
1982
1982
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
I. CYCLICAL INDICATORS
A. Composite Indexes
910. Twelve leading indicators
920 Four coincident indicators
930 Six lagging indicators
Lg,Lg,Lg
1967=100 ..
.....do. ...
do. ...
L,L,L
L,L,L
L,L,L
L,L,L
L.L.L
do.
do.
do.
do.
do.
Marginal Employment Adjustments:
*1. Average workweek, prod, workers, mfg
21. Avg. weekly overtime, prod, workers, mfg.2 ..
2. Accession rate, per 100 employees, mfg.2 . . . .
*5. Avg. weekly initial claims (inverted4)
3. Layoff rate, per 100 employ., mfg. (inv.4)2 . .
4. Quit rate, per 100 employees, mfg.2
L,L,L
L,C,L
L.L.L
L,C,L
L,L,L
L,Lg,U
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
46. Help-wanted advertising
L,Lg,U
L.Lg.U
Leading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
915. Inventory investment and purchasing
916. Profitability
917. Money and financial flows
L.L.L
c,c,c
...
...
. ..
...
...
131.2
140.3
176.8
133.1
141.3
187.8
127.9
138.3
185.4
125.3
134.9
183.3
NA
127.5
134.0
184.1
NA
92.9
93.0
90.0
107.2
101.0
103.1
102.3
99.3
98.8
99.6
99.6
96.5
97.1
128.3
133.2
183.6
129.8
132.8
182.5
128.6
132.0
172.1
NA
NA
100.2
98.4
99.2
NA
98.3
99.1
98.4
90.8
93.4
92.1
89.0
135.6
137.9
134.7
136.6
NA
140.4
NA
140.2
NA
140.0
NA
142.8
Hours
do. . . .
Percent
Thousands. .
Percent
do. ...
39.7
39.8
39.3
38.7
39.1
39.2
39.3
39.0
2.8
3.5
480
1.7
1.5
2.8
3.2
446
1.6
1.3
2.5
2.9
536
2.2
1.1
2.3
NA
548
NA
NA
2.4
NA
567
NA
NA
2.4
NA
551
NA
NA
2.4
NA
515
Ratio
1967=100...
0.508
129
0.429
119
0.360
110
0.316
102
0.247
87
0.243
85
0.229
83
169.05 167.50
9 6 , 7 2 3 96,177
9 0 , 9 5 4 90,408
25,159 24,588
167.25
96,356
90,029
24, 179
166.52
96,406
89,839
23,994
166.54
96,272
89,662
23,880
166.12
96,404
89,451
23,730
57.26
57.22
57.14
57.15
1.2
-0.9
-0.6
-2.5
-0.6
-5.7
-1.1
NA
1.0
0.8
NA
-0.1
NA
910
920
930
NA
0.8
0.6
NA
2.8
913
914
915
916
917
-0.7
NA
-1.8
-0.5
-0.7
-3.1
NA
2.0
0.4
1.8
-2.0
-0.3
-3.4
1.4
B. Cyclical Indicators by Economic Process
B1. Employment and Unemployment
Comprehensive Employment:
48. Employee hours in nonagri. establishments . . .
42 Persons engaged in nonagri activities
U,C,C
*41 Employees on nonagri payrolls
C,C,C
40. Employees in mfg., mining, construction . . . .
L,C,U
90. Ratio, civilian employment to total population o f working age2 .
. . . U,Lg,U
u,c,c
Comprehensive Unemployment:
37. Total unemployed (inverted4)
L,Lg,U
43. Unemployment rate, total (inverted4)2
L,Lg,U
45. Avg. weekly insured unemploy-rate (inv.4)2 . . L,Lg,U
*91. Avg. duration of unemployment (inverted 4 ) . . Lg.Lg.Lg
44. Unemploy. rate, 1 5 weeks and over (inv.4)2 . . Lg,Lg,lg
A.r., bil.hrs..
Thousands. .
do. . . .
do. ...
169.48 169.99
95,938 97,030
90,406 91,105
25,658 25,481
Percent
58.47
58.28
57.78
57.33
Thousands . .
Percent
do. ...
Weeks
Percent
7,637
7.1
3.9
8,273
7.6
3.4
9,113
8.4
3.8
9 , 5 7 6 10,428 10,427
8.8
9.5
9.5
4.1
4.6
4.7
11.9
13.7
13.2
1.7
2.1
2.2
13.8
2.5
15.1
3.0
16.5
NA
NA
2.4
NA
597
NA
NA
-0.8
-1.5
0.
NA
-15.9
NA
NA
-0.2
0.215 -0.014 -0.014
78
-2.4
-6.0
10,790 10,805
9.8
9.8
4.5
4.6
15.6
0.3
0.
NA
6.5
NA
NA
16.2
NA
-2.2
1.0
0.1
NA
-3.5
NA
NA
NA
NA
-0.044
-0.069
-14.7
-7.3
1
21
2
5
3
4
60
46
-0.2
-0.2
-0.6
-0.4
-0.5
-0.6
-2.3
-1.7
48
42
41
40
-0.08
0.01
-0.45
-0.07
90
-3.5
-0.1
-5.1
-8.9
-0.3
0.
-0.4
-0.7
37
43
45
91
44
0.
-0.1
-0.3
0.1
0.2
5.5
0.1
-0.1
0.3
-0.1
3.3
3.2
3.3
1474.0 1502.6 1490.1 1470.7 1478.4
1205.7 1242.0 1249.0 1241.6 1251.7 1248.8
1039.9 1069.1 1073.4 1066.3 1072.7 1070.3
1253.0
1069.5
1252.3
1069.0
-0.1
-0.6
-0.9
-0.6
-0.3
-0.1
0.2
-0.5
-3.8
-4.5
-9.4
-0.1
-0.3
-0.5
B2. Production and Income
Comprehensive Output and Income:
50. GNP in 1972 dollars
52 Personal income in 1972 dollars
*51. Pers. income less transfer pay., 1972 dollars ..
53. Wages and salaries in mining, mfg., and construction 1972 dollars
C,C,C
C,C,C
C,C,C
A.r.,fail.dol.
do. ...
do. . . .
CC,C
do
232.6
230.2
225.7
222.4
219.6
217.5
216.2
214.5
1967=100...
do. ...
do. . . .
A.r.,bil. dol.
147.0
136.7
161.2
667.9
151.0
140.5
164.8
689.5
146.3
134.5
160.2
678.0
141 .8
128.2
156.7
661.8
139.3
126.1
155.4
663.2
138.5
125.5
155.0
138.7
125.9
155.3
138.0
124.5
155.4
Percent
do. ...
do. ...
74.8
71.6
80.0
Industrial Production:
*47 Industrial production total
73. Industrial production, durable mfrs
74. Industrial production, nondurable mfrs
49 Value of ooods output 1972 dollars
C,C,C
C,L,L
C CC
Capacity Utilization:
82. Capacity utilization rate, mfg., FRB 2
83 Capacity utilization rate mfg BEA 2
84. Capacity utilization rate, materials, FRB2
L,C,U
c,c,c
L,C,U
79.1
78
78.4
76
79.9
72
75.2
72
72.0
-1.3
0.1
0.3
0.2
-0.6
0.
-0.7
-0.8
-0.5
-1.1
0.1
-1.5
70.3
53
47
73
74
49
-3.1
-1 .8
-4.7
-1.6
-0.8
-3.2
71
0.2
-1.3
0
50
52
51
-1.3
-2.2
-2.4
69.6
0.5
0.8
0.6
-1
-3.2
-2.4
-1.3
-1.6
-1.2
-4.1
-6.5
-2.7
82
83
84
B3. Consumption, Trade, Orders, and
Deliveries
Orders and Deliveries:
6. New orders, durable goods
7. New orders, durable goods, 1972 dollars
*8. New orders, cons, goods and mtls., 1972 dol. .
25 Chg in unfilled orders durable goods2
96. Mfrs.' unfilled orders, durable goods5
*32. Vendor performance2 <§)
L,L,L
L,L,L
L,L,L
L,L,L
L,Lg,U
L,L,L
Consumption and Trade:
56 Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars . .
C,L,C
75. Industrial production, consumer goods
C,L,U
54 Sales of retail stores
U,L,U
59. Sales of retail stores, 1972 dollars
L,C,C
55. Personal consumption expend., autos
L,L,L
58. Index of consumer sentiment ©
c.c.c
c,c,c
79.07
38.18
33.32
dol
do. ...
do. . . .
do. . . .
Bil. dol., EOP
Percent
83.24
77.40
76.41
75.48
74.55
76.45
73.42
37.41
33.96
33.40
32.80
32.24
33.02
31.68
33.12
30.25
29.44
29.92
30.69
30.06
28.68
1.51
-0.14
-2.82
-0.81
-3.03
-4.33
-2.59
-3.41
310.05 3 0 8 . 3 7 3 0 8 . 3 7 3 0 5 . 9 5 2 9 6 . 8 7 2 9 6 . 8 7 2 9 4 . 2 7 290.86
40
45
33
34
33
38
37
40
dol
do. . . .
1967=100...
Mil. dol
do. . . .
A.r., bil.dol.
101966=100
321.01
155.13
145.4
79,325
44,158
1967=100...
Number. . . .
121.1
113.4
107.3
NA
44,293 48,465 48,305 45,821
Bil.
Bil.
350.52
156.79
147.9
86,566
44,910
344.21
152.17
144.2
86,573
44,080
339.49 344.74 3 4 5 . 5 6 345.41
NA
150.16 152.61 1 5 2 . 3 7 1 5 2 . 3 4
NA
141.0
143.4
144.6
145.7
144.0
8 6 , 6 6 0 8 9 , 0 5 9 8 8 , 0 4 2 89,089 8 8 , 2 9 2
4 3 , 7 7 6 4 4 , 7 8 6 4 3 , 9 5 5 4 4 , 3 0 1 43,817
60.6
67.2
62.8
68.0
67.8
64.4
70.7
65.7
66.5
66.2
65.7
65.4
65.4
2.5
2.4
2.1
-4.0
-1.8
1.74
-0.82
2.01
1.6
-2.22
-0.9
-1.2
-0.8
-3.0
-1
3
0.
0.
0.8
1.2
0.8
NA
NA
-0.5
-1.2
-0.9
-1.1
0.
1
-1.4
-1.3
-2.2
0.1
-0.7
8.3
1.2
-1
1.5
1.6
1.7
2.8
2.3
-0.3
-0.5
6
7
8
25
96
32
56
57
75
54
59
55
58
B4. Fixed Capital Investment
Formation of Business Enterprises:
*1 2 Net business formation
13. New business incorporations
L,L,L
LL.L
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
-5.1
NA
NA
12
13
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
Basic data 1
Series title
Timing
classification3
Unit
of
measure
Average
1980
1981
4th Q
1981
IstQ
1982
2dQ
1982
Percent change
June
1982
July
1982
June
to
July
1982
Aug.
1982
July
to
Aug.
1982
|
4th 0
to
IstQ
1982
1st Q
to
2d Q
1982
0.6
-4.8
-5.8
10
0.6
-4.2
-8.0
-5.2
-4.5
-4.9
20
24
S
1. CYCLICAL INDICATORS-Con.
B4. Fixed Capital Investment— Con.
Business Investment Commitments:
1 0. Contracts and orders, plant and equipment . , .
*20. Contr. and orders, plant and equip.,
1972 dol
24. New orders, cap. goods indus., nondefense . . .
27. New orders, capital goods industries, nondefense, 1972 dollars
9. Construction contracts, commercial and industrial buildings, floor space
11. New capital appropriations, mfg
97. Backlog of capital appropriations, mfg.5
Business Investment Expenditures:
61. Business expend., new plant and equipment ..
69. Machinery and equipment sales and business
construction expenditures
76. Industrial production, business equip
86. Nonresid. fixed investment, total, 1972 do!. ..
Residential Construction Commitments and
Investment:
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dol
L,L,L
Bil. dol
26.57
27.92
26.92
25.63
24.14
23.78
22.97
23.10
-3.4
13.83
23.01
12.73
21.82
12.16
20.74
11.24
19.28
10.79
20.32
10.85
19.46
-4.0
5.4
L,L,L
L,L,L
do. . . .
do. .. .
14.33
23.45
14.06
24.04
L,L,L
do. ...
12.90
12.39
12.15
11.12
10.72
L,C,U Mil. sq.ft. ..
U,Lg,U Bil. dol
C,Lg,Lg Bil. dol., EOP
77.81
25.90
90.73
77.72
26.42
92.74
71.89
22.99
92.74
61.52
25.77
91.11
59.01
20.04
82.96
C,Lg,Lg A.r., bil. dol.
2 9 5 . 6 3 321.49 3 2 7 . 8 3 3 2 7 . 7 2 3 2 3 . 2 2
do. . . .
C,Lg,Lg
C,Lg,U 1967=100...
C,Lg,C A.r., bil. dol.
317.92 3 4 8 . 5 9 354.91 3 3 8 . 7 9
173.2
181.1
179.5
170.9
166.1
172.0
174.2
172.0
9.35
9.68
68.02
56.41
330.81 331.34
160.4
156.4
166.7
L,L,L
L,L,L
L,L,L
A.r., thous. .
1967=100...
A.r., bil. dol.
1,292
96.7
47.2
1,087
80.0
44.9
865
61.3
39.9
920
65.9
38.9
952
74.1
40.1
L,L,L
do. . . .
-5.0
9.0
4.8
-15.4
-4.4
L,L,L
L,L,L
L,L,L
do. ...
. . . ..do. .. .
Bil. dol
-9.10
38.4
0.77
3.42
37.5
0.10
Lg,Lg,Lg
Lg,Lg,Lg
Bil. dol., EOP
do. . . .
do. . . .
908
75.0
9.33
61.12
3.5
-17.1
-3.6
8.3
-3.6
27
-14.4
12 . 1
-1.8
-4.1
-22.2
-8.9
9
11
97
0.
-1.4
61
-8.5
323.79
153 .6
NA
151 .4
-2.3
-1.8
NA
-1.4
-4.5
-4.8
-1.3
-2.4
-6.1
-3.1
69
76
86
1,195
85.8
1,002
71.7
31.6
14.4
-16.2
-16.4
6.4
7.5
-2.5
3.5
12.4
3.1
28
29
89
11.0
30
B5. Inventories and Inventory Investment
Inventory Investment:
30. Chg. in business inventories, 1972 dol.2
*36. Change in inventories on hand and on order,
1972 dollars (smoothed 6 ) 2
31. Chg. in book value, mfg. and trade invent.2 ..
38. Chg. in mtl. stocks on hand and on order 2 . . .
Inventories on Hand and on Order:
71. Mfg. and trade inventories, total 5
*70. Mfg. and trade invent., total, 1972 dol. 5
65. Mf rs.' inventories of finished goods5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars 2
78. Materials and supplies, stocks on hand and on
order 5
Lg,Lg,Lg
Lg,Lg,Lg Ratio
Ug,Lg Bil. dol., EOP
-20.2
3.16 -20.19 -15.67 -14.40 -12.93
18.6
-29.0
0.
28.8
8.2
-1.73
-2.57
-2.68
-4.04
-0.80
NA
NA
NA
1.47
-20.6
3.24
NA
NA
NA
-23.35
-47.6
-0.84
4.52
29.0
-0.11
36
31
38
4 8 2 . 5 7 5 2 0 . 0 2 5 2 0 . 0 2 5 1 2 . 7 7 5 1 2 . 7 5 5 1 2 . 7 5 513.44
2 6 2 . 7 8 2 6 9 . 8 5 2 6 9 . 8 5 2 6 5 . 9 8 265.18 265.18 2 6 5 . 5 7
79.99
87.66
88.49
87.66
85.90
85.90
86.61
NA
NA
NA
0.1
0.1
0.8
NA
NA
NA
-1.4
-1.4
0.9
0.
-0.3
-2.9
71
70
65
NA
0.
NA
0.
-0.04
77
NA
-0.4
NA
-3.5
-3.7
78
0.86
236.2
0.74
2.1
-0.10
-0.3
-0.65
-4.1
0.09
-6.9
92
23
118.78 128.04 122.17 114.21 114.12 109.70 109.38 109.65
-0.3
0.2
-6.5
-0.1
19
1.70
1.70
221.89 2 2 3 . 1 3
1.78
1.78
1.74
1 .74
1.74
223.13 215.42 207.39 207.39 206.59
B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed 6 ) 2
23. Spot market prices, raw industrials @
L,L,L
U,L,L
Percent
1967=100...
Stock Prices:
*19. Stock prices, 500 common stocks®
L,L,L
1941-43=10.
Profits
16.
18.
79.
80
15.
26.
L,L,L
L,L,L
L,C,L
L,C,L
L,L,L
L,L,L
A.r., bil. dol.
.....do. ...
do. . . .
do. . . .
Cents
1977=100...
157.8
86.1
97.0
53.3
4.8
96.5
150.9
76.2
109.4
55.5
4.8
98.0
144.9
71.2
112.3
55.5
4.3
97.7
115.0
56.3
100.4
49.2
4.0
96.7
116.3
56.2
100.1
48.5
3.6
96.4
-20.6
-20.9
-10.6
-11,4
-0.3
-1.0
1.1
-0.2
-0.3
-1.4
-0.4
-0.3
16
18
79
80
15
26
L,L,L
L,L,L
A.r., bil. do!.
do. . . .
263.1
139.8
275.2
134.7
277.5
131.8
254.9
120.6
263.5
123.3
-8.1
-8.5
3.4
2.2
34
35
Lg,Lg,Lg
1977 = 100...
132.9
143.1
147.9
150.9
153.0
2 .0
1.4
63
Lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100...
1.211
196.6
1.305
210.3
1.349
219.7
1.376
226.6
1.388
230.1
2.0
3.1
0.9
1.5
68
62
75.5
75.1
75.4
76.4
76.3
1.0
-0.1
64
-0.18
-0.06
-0.06
1.8
1.7
-0.33
-0.01
0.12
-0.3
1.2
85
102
104
105
106
-0.192
0.055
- 0 . 0 2 4 -0.009
107
108
- 2 . 6 4 -13.27
21.27
7.22
-0.24
9.66
9.0
12 .2
33
112
113
110
and Profit Margins:
Corporate profits after taxes
Corp. prof its after taxes, 1972 dollars ...
Corp. profits after taxes with IVA and CCAdj . . .
do
...
.in 1972 dol. ..
Profits (after taxes) per dol. of sales, mfg.2 . . .
Ratio, price to unit labor cost, nonfarm bus
Cash Flows:
34. Net cash flow, corporate
35. Net cash flow, corporate, 1972 dollars
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost (cur. dol.) per unit of gross
domestic product (1972), nonfin. corp
*62. Labor cost per unit of output, mfg
64. Compensation of employees as percent of
Percent
1.49
298.0
1.27
283.4
-0.24
270.6
-0.89
259.6
-0.80
241.7
0.22
232.2
231.5
0.96
237.0
231.0
231.2
-0.2
0.1
B7. Money and Credit
Money:
85 Change in money supply (M1) 2
102. Change in money supply (M2) 2
*104. Chg. in total liquid assets (smoothed6)2
105. Money supply (M1), 1972 dollars
*106. Money supply (M2), 1972 dollars
L,L,L
L,C,U
L,L,L
L,L,L
L,L,L
Percent. . . .
do. . . .
do. . . .
Bil. dol. . . . .
do. . . .
0.53
0.73
0.74
203.7
807.8
0.52
0.80
0.93
197.6
803.6
0.74
0.83
0.90
194.5
804.7
0.56
0.77
0.84
198.0
818.0
0.23
0.76
0.96
197.4
828.1
-0.02
0.55
0.98
195.2
825.2
-0.02
0.81
0.94
194.1
827.1
0.86
1.19
1.03
195.2
834.6
0.
0.26
-0.04
-0.6
0.2
0.88
0.38
0.09
0.6
0.9
Velocity of Money:
107. Ratio, GNP to money supply (M1) 2
108. Ratio, pers. income to money supply (M2) 2 ..
C,C,C
C,Lg,C
Ratio. . . . . .
.....do. ...
6.561
1.357
6.839
1.383
6.877
1.380
6.685
1.356
6.740
1.347
1.345
1.348
1.336
0.003
-0.012
Credit
33.
1 1 2.
113.
1 10
L,L,L
L,L,L
L,L,L
L.I .L
A.r., bil. dol.
do. . . .
do. . . .
rln
61.48
39.71
16.57
13.93
0.66 -11.70
19.40
17.21
16.77
38.04
45.26
40.92
20.87
2.63
6.27
6.03
15.69
16.19
317.92 319.58 2 4 7 . 5 4 269.84 3 0 2 . 6 9
-4.96
9.48
6.84
6.74
NA
4 . 9 2 -31.44
NA
-9.35
NA
-4.56
NA
Flows:
Change in mortgage debt2
Change in business loans2
Change in consumer installment credit 2
Total nrivate borrowina
Basic data 1
Series title
Timing
classification3
Unit
of
measure
Percent change
Average
July
to
Aug.
1982
June
to
July
1982
4th Q
to
IstQ
1982
IstQ
to
2d Q
1982
NA
NA
NA
0.13
NA
0.08
14
39
-93
-159
740
788
-274
-320
93
94
-1.56
-0.20
-0.35
-0.21
-0.17
-0.44
-2.47
-2.90
-0.82
-1.11
-1.05
-1.68
-0.24
-1.87
0.64
0.87
0.22
0.13
0.48
0.35
-0.10
-0.74
0.28
-0.53
-0.51
-0.49
-0.69
-0.55
-0.02
0.23
119
114
115
116
117
118
67
109
NA
0.5
1.2
66
0.2
NA
4.7
-0.05
5.0
-0.08
72
95
4th Q
1981
IstQ
1982
2dQ
1982
June
1982
NA
2.37
NA
2.24
NA
2.16
NA
2.16
NA
NA
NA
NA
NA
NA
-516 - 1 , 2 5 6
829
1,617
-982
1,297
-895
1,205
-378
669
-285
510
-517
-536
14.51
12.36
12.94
15.65
12.33
16.41
17.11
16.50
14.15
12.11
13.32
15.96
12.45
16.73
12.59
11.91
12.97
15.75
12.28
16.29
10.12
9.01
12.15
14.64
11.23
14.61
16.50
16.26
14.39
Lg,Lg,Lg Bil.dol., EOP
306.21 327.08 327.08 328.59 332.51 3 3 2 . 5 1 333.08
NA
0.2
Lg,Lg,Lg Bil.dol
Lg,Lg,Lg Percent
164.51 182.24
14.15
13.21
191.22 2 0 0 . 2 6 2 1 0 . 3 1 2 1 3 . 7 1 2 1 4 . 5 0 214.91
13.11
13.06
12.98
12.96
12.85
NA
0.4
-0.11
1980
1981
July
1982
Aug.
1982
Series number
j
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
I. CYCLICAL INDICATORS-Con.
B7. Money and Credit-Con.
Credit Difficulties:
14. Liabilities of business failures (inv. 4 )®
39. Delinquency rate, instal. loans (inv. 4 ) 2 5 . . . .
L,L,L
L,L,L
Mil.dol
Percent, EOP
386.26
2.57
Bank Reserves:
93. Free reserves (inverted 4 ) 2 ©
94. Borrowing from the Federal Reserve 2 ®
L,U,U
L,Lg,U
Mil.dol
do. . . .
-1,141 -1,051
1,420
1,359
Interest Rates:
119. Federal funds rate 2 ®
114. Treasury bill rate 2 ®
115. Treasury bond yields 2 ®
116. Corporate bond yields 2 ®
117. Municipal bond yields 2 ®
118. Mortgage yields, residential 2 ®
67. Bank rates on short-term bus. loans2®
*1Q9. Average prime rate charged by banks 2 ®
Outstanding Debt:
66. Consumer installment credit 3
*72. Commercial and industrial loans outstanding,
weekly reporting large comm. banks
*95. Ratio, consumer install, credit to pers. income2 .
L,Lg,Lg Percent
do. . . .
C,Lg,Lg
do. . . .
C,Lg,Lg
do. . . .
Lg,Lg,Lg
do. . . .
U,Lg,Lg
do. . . .
Lg,Lg,Lg
do. . . .
Lg,Lg,Lg
do. . . .
Lg,Lg,Lg
13.36
11.61
10.81
12.77
8.60
13.42
15.17
15.27
NA
2.37
16.38
14.08
12.87
15.48
11.33
16.31
19.56
18.87
13.59
12.02
13.23
16.01
12.54
16.61
17.23
17.01
14.23
12.89
13.45
16.14
13.02
16.96
17.13
16.27
II. OTHER IMPORTANT ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
B1. Price Movements
310.
320.
320c
322
330.
331.
332.
333
334.
Implicit price deflator, GNP
Consumer prices (CPI), all items®
Change in CPI all items S/A 2
CPI food
Producer prices (PPI), all commodities®
PPI, crude materials
PPI, intermediate materials
PPI capital equipment
PPI, finished consumer goods
1972=100...
1967=100...
Percent
1967=100...
178.6
246.8
1.0
254.6
195.5
272.4
0.7
274.6
201.6
280.7
0.4
279.3
203.7
283.0
0.1
282.3
206.0
287.3
0.7
285.2
290.6
1.0
287.2
292.2
0.6
287.0
292.8
0.3
286.2
0.6
-0.4
-0.1
0.2
-0.3
-0.3
1.0
0.8
-0.3
1.1
1.1
1.5
0.6
1.0
310
320
320
322
...
...
...
...
...
268.8
304.6
280.3
239.8
248.9
293.4
329.0
306.0
264.3
271.3
295.8
318.1
310.5
272.4
276.1
298.3
317.1
311.1
275.1
278.0
298.7
324.8
308.9
278.0
277.9
299.4
327.0
309.7
279.9
279.7
300.6
323.7
311.0
281.2
281.3
300.4
321.9
310.7
283.1
283.0
0.4
-1.0
0.4
0.5
0.6
-0.1
-0.6
-0.1
0.7
0.6
0.8
-0.3
0.2
1.0
0.7
0.1
2.4
-0.7
1.1
0.
330
331
332
333
334
1977=100...
127.3
138.9
142.8
145.1
147.4
148.1
148.8
149.7
93.5
130.6
96.1
98.9
92.6
143.2
95.4
100.7
92.2
147.4
95.1
100.2
93.0
150.1
96.1
100.0
93.5
152.3
96.4
100.3
93.1
do.
do.
do.
do.
do.
B2. Wages and Productivity
340. Average hourly earnings, production workers,
private nonfarm economy
341 . Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm bus. . .
346. Real avg. hourly comp., nonfarm business . . .
370. Output per hour, private business sector
do.
do.
do.
do.
...
...
. ..
...
0.5
0.6
1.6
1.6
340
93.1
-0.2
0.2
0.9
1.8
1.1
-0.2
0.5
1.5
0.3
0.3
341
345
346
370
106.94 108.67 109.16 109.13 110.17 110. 19 110.52 110.64
9 9 . 3 0 100.40 100.04
99.55
99.74
99.76
99.73
99.84
7,637
8,273
9,113
9 , 5 7 6 10,428 1 0 , 4 2 7 10,790 10,805
3,353
3,615
4, 166
4,407
4,892
5,088
5,139
5,031
2,615
2,895
3,100
3,275
3,583
3,554
3,684
3,626
1,669
1,763
1,847
1,893
1,953
1,842
2,018
2,040
0.3
0.
3.5
1.1
3.7
9.6
0.1
0.1
0.1
1.0
-1.6
1.1
0.
-0.5
5.1
5.8
5.6
2.5
1.0
0.2
8.9
11.0
9.4
3.2
441
442
37
444
445
446
0.
0.2
0.7
-0.1
-0.1
1.1
-0.4
-0.1
-0.4
0.4
0.5
-0.1
451
452
453
-2.5
0.1
-16.7
0.6
1.0
-1.4
1.2
1.1
-1.2
2.4
1.4
4.4
501
502
500
511
512
510
92.9
C. Labor Force, Employment, and
Unemployment
441 .
442.
37.
444.
445.
446.
Labor
451.
452
453.
Total civilian labor forceTotal civilian employment
Number of persons unemployed
Unemployed males, 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
Millions
do. . . .
Thousands. .
do. . . .
do. . . .
do. . . .
Force Participation Rates:
Males, 20 years and over 2
Females, 20 years and over 2
Both sexes, 16-19 years of age2
Percent
do. . . .
do. . . .
79.4
51.3
56.7
A.r.,bil.dol.
do. . . .
do. . . .
do. . . .
do. . . .
do. . . .
540.7
602.1
-61.4
385.9
357.8
28.2
79.0
52.1
55.4
78.9
52.3
54.6
78.5
52.2
54.2
78.9
52.7
54.1
78.8
53.0
52.4
78.8
53.2
53.1
78.7
53.1
54.2
D. Government Activities
D1. Receipts and Expenditures
501.
502.
500.
51 1 .
512.
510.
Federal Government receipts
Federal Government expenditures
Federal Government surplus or deficit 2
State and local government receipts
State and local government expenditures . . . .
State and local govt. surplus or deficit 2 '
628.2
625.7
609.9
617.0
688.2
727.4
728.3
736.6
-60.0 -101.7 -118.4 -119.6
421.5
416.8
424.2
434.3
392.4
385.0
396.5
402.2
31.7
29.1
27.7
32.1
...
D2. Defense Indicators
51 7
525
548.
564.
Defense Department obligations
Military prime contract awards
New orders, defense products
National defense purchases
Mil.dol
do. . . .
do. . . .
A.r.,bil. dol.
1 3 , 3 9 2 1 5 , 9 4 5 16,124 19,613 18,694 1 7 , 5 0 3 17,669
6,754
7 , 7 7 7 11,129 11,490 1 4 , 2 9 6
8,065
8,610
4,396
4,855
4,919
6,950
5,462
5,437
4,684
153.7
131.4
166.9
166.2
176.2
NA
NA
5,495
0.9
-39.8
-13.8
NA
NA
17.3
21.6
43.1
41.3
-0.4
-4.7
3.2
-21.4
6.0
517
525
548
564
Mil.dol.
do.
do.
do.
do.
do.
18,390 1 9 , 4 5 6 19,067 18,681 18,294 1 8 , 8 2 2 18,026
3,435
3,608
3,466
3,358
3,420
3,332
2,789
3,788
4,456
4,236
4,132
4,033
4,211 4,305
2 0 , 7 7 1 2 1 , 7 5 1 2 1 , 7 7 7 2 0 , 7 5 6 1 9 , 7 5 2 21,310 1 9 , 5 5 9
6,139
5,747
6,319
5,165
4,137
4,823
5,929
2,030
2,190
2,289
2,373
2,319
1,798
2,439
NA
NA
NA
NA
NA
NA
-4.2
-16.3
2.2
-8.2
22.9
35.7
NA
NA
NA
NA
NA
NA
-2.0
-3.1
-2.5
-4.7
-10.1
3.7
-2.1
1.8
-2.4
-4.8
-19.9
-2.3
602
604
606
612
614
616
E. U.S. International Transactions
E1 . Merchandise Trade
602.
604.
606.
612.
614.
616.
Exports, total except military aid
Exports of agricultural products
Exports of nonelectrical machinery
General imports, total
Imports of petroleum and products
Imports of automobiles and parts
..
...
...
...
...
...
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data 1
of
Series title
Percent change
Average
IstQ
measure
1979
1980
1981
1981
2dQ
1981
3dQ
1981
4th Q
1981
IstQ
1982
2dQ
1982
3dQ
to
4th Q
1981
4th Q
to
IstQ
1982
to
2dQ
1982
Series number
Unit
IstQ
II. OTHER IMPORTANT ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
618
620
622
651
652
668
669
667
Merchandise exports
Merchandise imports
.
Merchandise trade balance2
Income on U S investments abroad
Income on foreign investment in the U.S. .
Exports of goods and services
Imports of goods and services
Balance on goods and services2
Mil. dol
do
do
do
do
do
. do.
do
46,118
52,955
-6,836
16,033
8,229
71,694
70,420
56,059
62,394
-6,334
18,171
10,694
85,526
83,451
1,274
2,074
59,064
66,036
-6,972
21,486
13,227
93,223
90,454
2,770
60,683
64,995
-4,312
20,528
12,405
93,280
88,613
4,667
60,284
66,831
-6,547
21,642
13,441
94,389
91,480
2,909
1502.6
2937.7
1493.7
2029.1
1043.1
6,537
4,538
1507.8
2864.9
1505.4
1958.7
1035.0
6,583
1502.2
2901.8
1490.1
1996.5
1036.6
6,544
951.1
145.3
361.6
944.6
221.6
219.2
2.4
229.5
233.4
217.4
12.1
216.9
16.5
218.9
214.1
4.8
455.7
443.5
475.5
450.9
486.0
454.2
468.9
455.7
12.2
24.6
31.8
13.2
57,694
65,539
-7,845
22,048
13,865
92,965
90,406
2,559
57,593
66,778
-9,185
21,727
13,198
92,259
91,316
1510.4
2980.9
1493.9
2060.0
1048.8
6,563
4,516
4,557
1490.1
3003.2
1485.3
2101.4
1051.9
6,458
4,559
1470.7
2995.5
1486.1
2117.1
1046.9
6,360
4,527
951.4
142.2
943.4
949.1
137.5
943
55,780
61,653
-5,873
20,890
14,029
90,206
87,070
3,136
55,094
-0.2
1.9
60,878
- 5 , 7 8 4 -1,340
-1.5
22,709
-4.8
15,036
-0.8
91,286
87,492
1.0
3 , 7 9 4 -1,616
-3.1
-7.7
3,312
-3.9
6.3
-2.2
-4.6
2,193
-1.2
-1.3
89
8.7
7.2
1.2
0.5
658
618
620
622
651
652
668
669
667
1478.4
3045.2
1482.7
2151.5
1054.8
6,380
4,552
-1.3
0.7
-0.6
2.0
0.3
-1.6
0.
-1.3
-0.3
0.1
0.7
-0.5
-1.5
-0.7
0.5
1.7
-0.2
1.6
0.8
0.3
0.6
50
200
213
224
225
217
227
955.0
-0.8
-5.7
0.
0.
0.8
-4.8
0.7
2.5
0.6
2.5
-0.2
0.7
1.9
3.6
0.3
2.7
0.6
0.6
0.6
0.6
1.5
1.2
0.8
2.1
231
233
238
239
230
232
236
237
-6.2
-1.3
-11.7
-3.5
0.3
-18.6
-10.7
-1.5
-20.2
-11.5
-1.2
-48.8
3.5
-1.9
11.0
4.0
-0.6
19.4
241
243
30
240
242
245
1.7
4.8
-0.2
4.3
8.9
1.5
-0.7
-1.4
-0.2
0.6
-0.3
1.3
-1.3
-3.6
0.1
0.1
-2.2
1.6
261
263
267
260
262
266
-0.6
1.4
-2.7
0.2
0.9
-2.4
-3.3
-4.7
0.4
-2.2
-4.6
7.8
1.8
3.5
-1.2
1.6
0.7
3.6
256
257
255
252
253
250
0.7
1.4
-2.7
-4.8
0.
2.3
-0.3
1.0
-6.2
-14.6
0.9
3.7
1.2
1.1
0.8
-1.1
0.9
3.4
220
280
282
286
284
288
-2.8
2.6
18.0
-48.0
1.0
-10.0
-2.3
-12.3
-18.2
-0.9
3.0
1.1
3.7
3.2
0.1
290
295
292
298
293
A. National Income and Product
A1. GNPand Personal Income
50
200
213
224.
225.
217.
227
GNP in 1972 dollars
GNP in current dollars
Final sales, 1972 dollars
Disposable personal income, current dollars . . .
Disposable personal income, 1972 dollars
Per capita GNP in 1972 dollars
Per capita disposable pers income 1972 dol
A.r , bil dol.
. . . do
do
do
do
A.r., dollars
do
1479.4
2417.8
1472.2
1650.2
1015.7
6,572
1474.0
2633.1
1479.0
1824.1
1018.0
6,475
4,512
4,472
4,519
A2. Personal Consumption Expenditures
231
233
238
239
230
232
236
237
Total 1972 dollars
Durable goods 1972 dollars
Nondurable goods, 1972 dollars
Services, 1972 dollars
Total current dollars
Durable goods current dollars
Nondurable goods current dollars
Services current dollars
A.r bil dol
do
. . . . . . .do
do
do
do
.do.
do
927.6
930.5
947.6
147.2
353.1
137.1
140.0
236.3
208.4
225.8
229.1
7.3
213.3
-5.0
216.9
9.0
471.5
451.1
20.5
138.6
361.7
134.1
363.1
138.3
355.8
362.4
363.0
362.2
364.5
427.3
437.6
445.2
444.2
444.3
446.2
446.2
449.5
452.2
1 5 0 7 . 2 1667.2 1843.2 1799.9 1819.4 1868.8 1884.5 1919.4 1947.8
213.4
214.3
234.6
236.9
230.4
241.2
229.6
237.9
240.7
600.0
670.4
734.5
720.6
729.6
741.3
746.5
749.1 755.0
693.7
782.5
874.1
842.4
859.4
886.3
908.3
932.4
952.1
A3. Gross Private Domestic Investment
241
243
30
240
242
245
Total 1972 dollars
Total fixed investment, 1972 dollars
Change in business inventories 1972 dol 2
Total current dollars
Total fixed investment current dollars . . .
Chg in bus inventories, current dol.2
do
do
do
do
. .do.
. .do.
423.0
408.8
14.3
402.3
412.4
-10.0
195.4
210.8
-15.4
414.8
202.3
206.7
-4.4
431.5
450.4
447.7
-35.6
-16.2
A4. Government Purchases
of Goods and Services
261
263
267
260
262
266.
Total 1972 dollars
Federal Government 1972 dollars
State and local governments 1972 dollars
Total current dollars
Federal Government, current dollars
State and local governments, current dollars . . .
do
do
do
. . .do
do
do
278.3
284.6
102.1
176.2
106.5
178.1
287.1
110.4
176.7
286.8
283.9
286.4
107.0
176.9
110.7
175.7
583.2
218.2
600.2
230.0
365.0
370.1
626.3
250.5
375.7
474.4
538.4
168.3
197.2
341.2
596.9
228.9
368.0
107.9
179.0
578.1
217.0
361.1
159.2
108.6
50.6
158.5
116.4
42.0
159.3
111.1
48.2
159.7
115.5
44.2
157.8
118.7
39.2
339.2
367.3
367.2
341.3
26.1
365.4
334.2
368.9
314.0
25.2
345.1
23.7
341.3
25.9
306.0
291.3
116.0
175.3
289.2
285.3
114.4
174.9
630.1
110.3
175.0
249.7
380.4
630.9
244.3
386.6
156.9
120.4
36.5
151.7
114.7
36.9
154.4
118.7
35.7
367.9
344.4
359.9
328.6
365.8
330.9
23.5
31.3
34.9
A5. Foreign Trade
256
257
255
252.
253.
250.
Exports of goods and services 1972 dollars
Imports of goods and services 1972 dollars
Net exports of goods and serv 1972 dol.2
Exports of goods and services, current dol
I mports of goods and services, current dol
Net exports of goods and sen/., current dol.2 . .
...
do
do
do.
do
do
do
146.2
109.0
37.2
281.4
268.1
13.2
31.2
A6. National Income and Its Components
220
280.
282
286.
284
288
do
do
do
do
do
do
National income
Compensation of employees
Proprietors' income with IVA and CCAdj
Corporate profits with IVA and CCAdj
Rental income of persons with CCAdj
Net interest
1966.7 2117.1 2 3 5 2 . 5 2 2 9 3 . 7 2 3 2 4 . 4 2 3 8 7 . 3 2 4 0 4 . 5 2 3 9 6 . 9 2 4 2 5 . 2
1458.1 1598.6 1767.6 1718.0 1750.0 1789.1 1813.4 1830.8 1850.7
132.1
194.8
27.9
153.8
116.3
181.6
32.9
187.7
422.7
406.2
310.6
96.7
14.3
5.9
332.1
106.2
-33.2
5.8
124.7
190.6
33.9
235.7
123.4
200.3
34.4
217.6
123.8
185.1
34.0
231.6
127.5
193.1
33.6
124.1
183.9
33.6
116.4
157.1
33.9
117.3
155.4
34.2
244.0
249.5
258.7
267.5
490.0
476.3
389.1
158.6
-72.5
7.5
428.8
380.3
441.5
379.1
134.4
-24.5
6.5
139.1
-90.7
6.6
144.3
-87.5
6.7
A7. Saving
290
295
292
298
293
Gross saving (private and govt )
Business saving
Personal saving
Government surplus or deficit2
Personal saving rate 2
do
do
do
do
Percent
477.5
374.5
461.4
362.7
482.4
367.0
130.2
-28.2
6.4
105.9
-8.3
5.4
122.0
-7.6
6.1
384.6
NOTE: Series are seasonally adjusted except for those indicated by (§), which appear to contain no seasonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise specified. For complete series titles (including composition of the composite indexes) and sources, see "Titles and Sources of Series" at the back of BCD. NA = not available, a = anticipated.
EOP = end of period. A.r. = annual rate. S/A = seasonally adjusted (used for special emphasis). IVA - inventory valuation adjustment. CCA = capital consumption adjustment. NIA = national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
2
Differences rather than percent changes are shown for this series.
3
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all turns: L - leading; C = roughly coincident; Lg = lagging; U = unclassified.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.
>6
This series is a weighted 4-term moving average (with weights 1, 2, 2, 1) placed at the terminal month of the span.
CYCLICAL INDICATORS
A
I
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
160150-
910. Index of twelve leading indicators
(series 1, 5, 8, 12, 19, 20, 29, 32, 36, 92,104
140130120'
110'
1009080-
160 n
150-
1401
, 920. Index of four roughly coincident
(series 41, 47, 51, 57)
130120110100220210200190180170160150140130120-
930. Index of six lagging jodicaiocs
, 1 (series 62, 70, 72, 91, 95,109)
110-
J
1009080-
70-
60-
50J
73 74 75 76 77 78 79 80 81 82 1983
NOTE: Numbers entered on the chart indicate length of leads (-) and lags ( + ) in months from reference turning date;
Current data for these series are shown on page 60.
SEPTEMBER 1982
KCII
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
justments (series 1, 2, 3, 5)
11010090-
nt commitments (series 12, 20,
12011010090-
120-
hasing (series 8, 32, 36, 92)
11010090-
11010090 :
916. Profitability (series 19, 26,
150140130-
(series 104,106,110)
120-
—
11010090-
70-
60-
94K! Ratio, coincident index to lagging
110100908070194849 50 51 52 53 54 55 56 57 58 5"
71 75 /6 77 78 79 80 81 82 1983
NOTE: Numbers entered on the chart indicate length of leads ( —) and lags ( + } in months from reference turning dates.
Current data for these series are shown on page 60.
ltd)
SEPTEMBER 1982
11
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
-.-.
1
1. Average work week,; production workers,
ring ( h c )
ly initial claims. State nn
—inverted scale)
ds and materials. 1972 dollars
dor performance, percent of companlf receiving
eries (percent)
t business formation (index: 1967
ontracts and orders for
972
jit and equipment,
LL
3 74 75 76 77 78 79 80 81 821983
Current data for these series are shown on pages 61. 64, 65, and 66.
12
SEPTEMBER 1982
110
CYCLICAL INDICATORS
IA
I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
New buildjBi permits, private housing units (index: 1967=1
L
in invfRories on hand and on order, 1972 dollars,
id assets, smoothed1 (percent)
19. Stock iices, 500 common stocks
(MeJ)941-43MD)
. Money supply-M2-in 1972 dollars (oil.
194849 50
51
52
53
64 •=:'• -•
•'.''• s - ; .:^. •;••:.
•
,,.
73 74 75 76 77 78 79 80 81 821983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, and 71.
BCD
SEPTEMBER 1982
13
C Y C L I C A L INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
yets on nonatricultural payrofc
57. Manufacturing and
1972 dobrs (bil.
C
:s!
<
50
51
52 53
<h4
f>5
56
5;
58
59
60
G1
62
63 64 65 66 67 68 69 70
71 72 73 74 75 76 77 78
79 80
81 821983
Current data for these series are shown on pages 62, 63, and 65.
14
SEPTEMBER 1982
BCII
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
atkm ofifiemployment (weeks—inverted scale)
trade inventories, 1972 dollars (
output manufacturing (index: 1967*100)
rate charted by banks (percent)
loans outstanding, weekly
ial banks (M. del.)
194849 50 51 52 53 54
55 56 57 58 59 W
Current data for these series are shown on pages 62, 68, 70, and 73.
SEPTEMBER 1982
15
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart Bl. Employment and Unemployment
I Mag|l Employment Adjustments |
1. Average workweek, production workers,
41-
21. Average weekly overtime hours, production workers, manufactaiinj (hours)
2. Accession rate, nttmufacturing (per 10
4-
\
5. Average weekly initial claims, State unemployment insurance (
401."
3. Layoff rate, manufacturing (per 100
4. Quit rate, manufacturing (per 100 employees)
1956
57
~.B
51,'
'• >
,
7;<
79
80
81
82 1983
Current data for these series are shown on page 61.
16
SEPTEMBER 1982
ito
CYCLICAL INDICATORS
B i
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
14-
, Ratio, help-wanted advertising to number
of persons unemployed (ratio)
10-
0.6-
02-
2001/b150-
46. Help-wanted advertising (index: 1967=100)
12510075-
180-
IbU-
14!!-
1009590-
42. Persons engaged in qjagricultural activities InflJons)
85-
ees on nonagttajptal payrolls (millions)
1956
57
58
59
60
61
62
6 >.
r.
81
82 1983
Current data for these series are shown on pages 61 and 62.
BCII
SEPTEMBER 1982
17
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
[Comprehensive Employment—Con. |
~~m
fS"
90. Ratio, civilian employment to total population of working age (percent) ,-»
-_UU
IU.U.UI
^*Hk
.
•rV/^'X.
^****fr
Jt^^"^
59-
ILAi
•
^^S
/
-f
60-
j2
58\
f
A
1
XA^ 1 8 J
\
5756-
Vy,
^
55-
V>^^I\4^WV ~*J*~'
S
54-
I Comprehensive Unemployment!
37. Number unemployed, total (miions—inverted scale)
IJIul
9101112-
43. Unemployment rate, total (percent—inverted scale)
56-
9-
45. Average weekly insured unemployment rate (percent—inverted scale)
10-
PIu
4567-
91. Average duration of unemployment (weeks—inverted Scale)
10-
1416-
44. Unemployment rate, persons unemployed 15 week* and over (percent—inverted scale)
0-1
3J
.956
57
f>K
59
B!)
Si
6>
67
GR
69
70
73
74
75
7f>
17
78
79
80
81
82 1983
Current data for these series are shown on page 62.
18
SEPTEMBER 1982
BCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
52. Personal income «•? dolars (am. r
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on page 63.
BCII
SEPTEMBER 1982
19
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income—Continued
Indi
al Product!
47. Industrial production, total (ind«0|967=100)
74. Industrial production, nondurable manufactures
(index: 1967=100)
73. Industrial fMwction, durable manufactures
(index: 19«P=100)
49. Value of gootfiptput in 197Z dollars, Q
(ann. rate,
83. Rate of capacjW utilization,
(BEA), 0 (percent)
82. Rate of capacity
84. Rate of capacity H^tion, materials, diluent)
1956
57
58
59
60
61
62
63
SI
55
56
67
f>
78
79
80
81
82 1983
Current data for these series are shown on pages 63 and 64.
20
SEPTEMBER 1982
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
100-
9080-
6. Neflgers, durable g
cunVdoDars (bV. do).
706050-
New orders, durable fM(b jnihigfttes. 1972
(bildol.) rrvn
"N<.
40-
30-
45-
8. New orders for consfHf goods and mat
in 1972 dollars (bil.
403530-
25. Change in unfilled orders, Mile goods
(bil. dol.; MCD moving avgi||term)
-4 J
380340300260220-
96. Manufacturers' unfilled orders,
(ML dot.)
180-
140-
100-
60-
32. Vendor performance,
receiving slower deliv
of companies
cent)
100755025-
1956
57
58
59
60
61
62
P.:
T=>
76
77
78
79
80
81
82
1983
Current data for these series are shown on page 64.
SEPTEMBER 1982
BCII
21
CYCLICAL INDICATORS
BI
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
56. Manufacturing and trade sates hi current doBars—
(UM)
140-
100-
7fi
140130
Industrial nrnriiictinn. ftflfffiliniftf PftftflS
60-
54. Sales of retai stores *) current dollars (M. «.)—
U
50-
Sates of retail stores hi 1972 dollars (bil. dot.)
ulul
X
706050-
403C-
55. Personal efpmption expenditures,
automobie^ Q (ann. rate, bl. dot.)
58. Index of consumer sentiment (1st Q 1966=100)
lOO-i
1956
57
58
59
60
61
62
«'•
82 1983
Currant d«t« for thes« Mries are shown on page 65.
22
SEPTEMBER
1982
BCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
160-
of BusiiBiEnterDrises
140-
12. Net business formatioHHdex: 1967=100
1201005550454035-
13. New business hie
30-
PI
25-
35-|
302520-
s Investmeijilmmitmentsl
15-
20. Contracts and orders for plant and
in 1972 dollars (bil. dol.) , \ . •
I
1 AM
It
10J
30-1
s and orders to
dollars (bil.
252015-
10-
w orders, capital goods industries,
972 dollars (bil. dol.)
110100908070605040-
(ml. sq. ft. of floor area; MCP
LZU
1956
57
58
59
6,'
6,
30-
75
76
77
78
79
80
81
82 1983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on pages 65 and 66.
KCII
SEPTEMBER 1982
23
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
[Bums InvestmeHDprnmitments—Con
97. Backlog of capital
(M.dot)
11. N*w capital
Q(M.dol.) [Ti
61. Business
(ann. rate,
69. Machinery and equipment
76. k^ial production,
1967=100
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 66 and 67
24
SEPTEMBER 1982
licit
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
200180-
ktontial fixed investment in 1972 (Mars, Q (am.|Hbl- *••)
86. Total, Q
160"
140120100-
88. Producers'durable
60-
Commitniems and Investment I
28. New private homing
2.62,42.22.01.81.61.4-
08J
29, tfcw btlding permits
20018016014012010080-
60-
89. Residential fixed
(am. rate, bi.
706050-
40-
1956
57
58
59
60
61
62
63
64
65
66
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1933
Current data for these series are shown on page 67.
BCII
SEPTEMBER 1982
25
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment
30. Change in business inventories,
Lit
36. Net change in inventories on
(ann. rate, bil. dot.; moving
31. Change hi book value, manufacturing and tr
(ann. rate, H. dol.; MCD moving avg.—6-te
LLL
Change in stocks of materials and supplies
manufacturing (bil. do).; MCD moving avg.
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
:'3
,'H
RC
81
82
1983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 68.
26
•SEPTEMBER 1982
KCll
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment—Continued
600550500450400350-
71. Book value, manufacturing and
current d#*s (bl. dol.)
300250-
and trade inventories, 1972 dollars (bit. dol.)
200150lOO-i
90807060-
65. Book value of manufacturers' inventories
of finished goods (ML dd.)
50-
40-
30-
1.9-1
77. Ratio, deflated inventories to sales,
1.8-1
1.71.61.5260240220200180160140120-
78. Stocks of materials and supplies on hand and on order, /
manufacturing (Ml. dol.)
1008060-
40-"
1956
57
58
5'-.
6C-
'
'9
BC
81
82
1983
Current data for these series are shown on page 68.
itcn
SEPTEMBER 1982
27
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
92. Chanee in sensitive crude
(percent; moving avf.—4-
+ 4-
+ 20-
-2J
340300260220-
23. Spot market prices, raw industrials2 (
180-
OIL
140J
140120100-
Stock prices, 500 common stMWKindex: 1941-43
200180160140-
16. Corporate Mts after taxes,
120100-
profits after taxes, 1972 dollars, Q
rate7». <M.) X
60 J
120100-
60-
40-
Corporate profits after taxes
current dollars, 0 (arm. rate,
20J
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
79
80
81
82 1983
'This is a weighted 4-term moving average {with weights 1,2,2,1) placed on the terminal month of the span.
'Beginning with data for June 1981, this is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
Current data for these series are shown on page 69.
28
SEPTEMBER 1982
BCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
orporate domestic
22. Ratio, corporate
income, Q (
profits (after taxes) with inventory valuation
adjustments to total corporate domestic
15. Profits (after taxes) per dollar of
26. Ratio, price to unit labor cost,
(snn. rate, bil. dot.)
X
34. Net cash flow,
(ann. rate, bil.
1956
57
58
59
60
61
62
63
6
n
72
73
74
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on pages 69 and 70.
ItCII
SEPTEMBER
1982
29
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
lUntHbofCosts
63. Unit labor cost, private business
(index: 1977=100)
Labor cost (current dollars) per unit of cross
62, Labor cost per unit of output,
€4. Compensation of employees as a percent of
';
Q (percent)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on page 70.
30
SEPTEMBER 1982
BCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
in money supply Ml
lU-,1
ent; MCD moving avg.—6-term)
Change In money supply M2
(percent; MCD moving avg.—6-term) l i e u
Money supply-Ml-in 1972 dollars (bil. dol.)
LIE
106. Money supply-M2-in 1972 cUBf (bl. dol.)
L,L,L
107. Ratio,GNP to BW*y supply Ml, Q
C,C,C
Vel
f of Money
108. Ratio, personalfttepme to money
1956
57
58
59
60
61
62
6:i
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 71.
ltd*
SEPTEMBER 1982
31
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
33. Change tn mortgage debt (aim. r»te, bil. dd.)
Ul
112. Change in bank loans to businesses (aim. rttf, bil. dol.;
MCD moving avg.—6-term)
a.
113. Change in consumer installment credit (ann. rate, bil. dol.)
110. Total private borrowing, Q (ann. rite, bil. dol.)
1956
57
58
59
K
t,;
•:.':
78
79
80
81
82 1983
Current data for these series are shown on pages 71 and 72.
32
SEPTEMBER 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
14. Current KabifWf business failures (mil. dol
inverted scallpCD moving avg.—«i
39. Detoquency rate, 30 days and over
(percent—inverted scale)
93. Free reserves (bil. doHfiverted scale)
94. Member bank borrow
the Federal Reserve (bis dol.)
Up
1956
57
58
59
60
61
62
6
1983
Current data for these series are shown on page 72.
SEPTEMBER 1982
33
CYCLiCAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
'956
57
58
59
60
61
62
63
64
fiS
66
68
69
73
'/4
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on pages 72 and 73.
Digitized for34
FRASER
SEPTEMBER 1982
ltd*
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
1983
Current data for the«e series are shown on page 73.
ItCII
SEPTEMBER
1982
35
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE
Chart Cl. Diffusion Indexes
950. Twelve leading indicator componenttff-mo. span—, I't&lgan—)
lOO-i
951. Few roughly coincident indicator c
Iff
HIM
50-
952. Six lagging indicator components (mit span—, 1-mo
100-1
50-
0-J
Jtoerare workweek, production workers, ma
span—, 1-mo. span—
100-1
50-
. span—, 1-mo. span-
»l claims, State unemployment insurance—51 «is (percent dec
100-
—, 1-mo. span—)
m pnvate nonagrfcuftural payroNs—17
100-1
50-
0-«
1956
57
58
59
60
61
62
63
64
65
66
57
68
69
70
71
72
73
74
75
7~
77
73
79
80
81
82
1983
Current data for these series are shown on page 74.
36
SEPTEMBER 1982
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
New orders, durable goods industries—34-35 ingB'ies (9-mo.
100-
101Mutf VI
50-
0-
Newly approved capital appropriations, deflateqHi industries (
90705030-
966. Industrial production—24 j
100-
50-
Spot market prices, raw industrials—13 i
100-1
50-
968. Stock prices, 500 common stocks—52-82 Juries (9-mo.
100-1
51
50-
960. Net profits, manufacturing
901
7050-
30J
1956 57
58
59
60
61
62
63
64
65
6>>
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
1983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current data for these series are shown on page 75.
SEPTEMBER 1982
IICII
37
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
expenditures for new
22 industries (1-Q
yees, manufacturing
(b) Later anticipation
manufacturing and Hde (4-Q span)1
manufacturing <
manufacturing (4-Q
7;
es, wholesale trade (4-Q sjjln)1
manufacturini and to
manufacturing and traJH (4-Q span)
1971 72
73
74
75
76
77
78
79
80
81
82 1983
s, retal trade (4-Q span
1971
72
73
74
75
76
77
78
79
80
81
82 1983
'Thi* is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc. Dun & Bradstreet diffusion indexes are based on surveys of about
1,400 business executives.
Current data for these series are shown on page 76.
38
SEPTEMBER 1982
ltd*
CYCLICAL (fMDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
1-tnonft spans-—
910c. Composite index of twelve ;MBig indicators
(series 1, 5, 8,12,19, 2QM32, 36, 92,104,
tra
A Ay\
fififWl
-———---JjjftA1^
920c. Composite inde» of four i
(series 41,47,51, 5?)
I^^^Bmffi^n^^^^^^H^H^H
«lf KlrtiMlffli I Ifr"11^^™^™
"
+40-1
+30
+20
+ 10
0
-10
-20
-30
-40 •"
+30
+20-
+10
0
••—
-10-20
I
fl
930c. Composite index of six
(series 62, 70, 72, 91,9
+70+60+50+40
+30
+20+100
-10
-20-30
-40
-50
I
II
l»"».i:f
~""1J
-
m
'
50c. GNP in constant (1972)
+ 10-1
+5
0-5-10-
47c. Index of industrial i
+ 30+ 20-
I
+10-
231
0-10-20-30-
48c. Employee-hours in nonagricultural i
li
I ?M r, V.
' Af,t , i'»\ il
mt' I : H I : ^
Sic. Personal income less Irani
payments in 1972 dollars 1
+20+ 15+ 10+50-5
-10-15-
ir'iliiiMl
'•' '"" " T51 +15+10+50-10-
1956
57
58
59
Si
6!
f,2
63
64
65
6r,
5?
58
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in which the data for each series were published.
BCII
SEPTEMBER 1982
39
OTHER IMPORTANT ECONOMIC MEASURES
A
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
200. Gfff in current
223. Personal me
persona)(neons n
Q (arm. rate, M. dd.)
SO. GfffinJ972
213. Final sates in 1972 (k^ Q (arm. rate,
217. Per capita GNP in 1972 doflars, Q (arm
'i956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 63 and 80.
40
SEPTEMBER 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
I Annual rate. Mba dolagl972)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
30
81
82 1983
Current data for these series are shown on pages 80 and 81.
ltd)
SEPTEMBER 1982
41
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
Annual rate, billion dollars (grrent) I
520480440400360320280240200160-
242. Total fixed investment, Q
120"
SO J
+ 30-1
245. Change in bustewa inventories, 0
0-
-10-20-30-
| Annual rate, billion dollars 11972) |
-40240-1
220200-
180-
100*30+ 20+ 100-
-10-
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
7k,
77
73
79
80
81
82 1983
Current data for these series are sho'
42
SEPTEMBER 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
A I
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
I Annual rate, bffion doling 19 72
1956
57
58
59
60
61
62
63
64
65
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 81.
BCD
SEPTEMBER 1982
43
OTHER IMPORTANT ECONOMIC MEASURES
IA I
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
Annual rate, billion dollars Hiurrent) |
Annual rate, MBon dote
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
(1972) |
80
81
82
1983
Current data for these series are shown on page 82.
44
SEPTEMBER
1982
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
Annul rate, biSon dotes
rporate profits with inventory valuation and capit
income with inventory valuation and
I consumption adjustments, Q
284. Rental inconvlBbersons with c
consumption HHtment, 0
1956
57
58
59
60
61
62
74
70
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 82.
SEPTEMBER 1982
45
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
290. Gross saving (private and
: ib >
,
s«
59
K
bi
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on pages 62 and 63.
46
SEPTEMBER
1982
IICII
OTHER IMPORTANT ECONOMIC MEASURES
IA
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
70 -t
65-
6020-
State and local
oods.._
15-
purchases of goods and services, Q
10-
248. Nonresidentiai fixed inves
5-
ial fixed investment, Q
0J
247. Change in business inventories, Q
64. Compensation JMpployees, Q
75-
65 J
with inventory valuation
0
ventory valuation and
justments, Q
10-
289. Net Merest
5-
of persons with capital c
1956
57
58
59
60
61
62
6'S
Current data for these series are shown on page 83.
iu:n
SEPTEMBER 1982
47
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
310c
Percent change • annual rate
at (i-Q sp»
310. Implicit price deflator, GNP, Q
J
f
311. Fixed-vMAid price index,
gross bi«iwss product, Q
[Index: 1967=100
334. Finished consumer tooas
3971
7?
".:';
-.;
•••-
i
81
82 1983
Current data for these series are shown on pages 84, 85, and 86.
SEPTEMBER 1982
IICII
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart Bl. Price Movements—Continued
Chart B2. Wages and Productivity
341. Real average
workers, private.
140. Average hourly earnings of production
private nonfarm economy (current dollars)1
346. Real average hourly
nonfarm business
compensation, al employe
sector, 0 (current
1956 57
58
59
60
61
62
p.i
l!2
1983
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
Current data for these series are shown on pages 84, 87, and 88.
ItCII
SEPTEMBER 1982
49
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
in averagjjtjourly earnings of production
, private nMarm economy1—
o-momn spans
\
34IC, Real earnings 'H
Chile in averagiiourly compensation, all employees,
businesslltor, Q-
6-month span* (ann. rate)
Current-dollar compensation
Real compensation
l-i|uani)i ijJIRls (ami. rate)
A
Iffl
iated wage Ip; benefit decisions, all industriesFirst year average changes, Q (ann. rate)—Average changes over life of
'contract, Q (ann. rate)
hour, aU persons,
iness sector, Q
370. Output peHr, all persons,
private buBs sector, Q
^
370c. Change in output per hour, private IHiess sector, Q
i-quarter spans (ann. rate;
'956 a7
58
59
60
6!
6?.
63
64
65
74
75
76
77
78
79
80
81
82 1983
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality. 'One-month percent changes have been multiplied by a constant (12) to make them
comparable with th0 annualized 6-month changes. See page 87 for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88.
50
SEPTEMBER 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
C I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart Cl. Civilian Labor Force and Major Components
jarticipation rates (percent)—
453. Both s«H|16-19 years
445. Females 20 years
and over
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 89.
IICII
SEPTEMBER
1982
51
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
I Annual rate, billion dollars (cung)|
501. F«teal Government receipts, Q
1956
57
58
59
60
61
62
63
64
65
66
6;
68
7'.:
77
,-H
7tt
JJQ
81
82
1983
Current data for these series are shown on page 90.
52
SEPTEMBER 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
26-<
242220181614-
5If. Bettsat Departmen
(bil. dol.; MCD moving avg.-6-
121016141210-
525. Defense Department mitary prime
(bS. dol.; MCD mo»!ng avg.-6-
6-
130120110100908070-
543; Defense Department gross unpaid obfigaM outstanding (bil.
605040J
11109-
548. Manuf
(bil. dol.;
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
orders, de
avf.—6
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 90.
ItCII
SEPTEMBER 1982
53
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
es of Defense Activity!
557. Output of defense** space
13012011010090-
16141210-
559. Manufacturers'
6-"
1101009080706050-
561. Manufacturers'
40-
161412-
net outlays,
MCD moving av
580. Defense
assistance (H.
555.0-
45403.5-
, defense
avg.—4-tei
588. Manufacturers'
(H. dot.; MCD
1 5J
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
7*
75
76
7?
78
79
80
81
82 1983
Current data lor then t«ri«t are ihown on pu< 91.
54
SEPTEMBER 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
.*:
Measures of Defense Activity—Con.
570. Employment in
1.61.41.21.0-
Defense Department
577. Military,
3.5i
3.02.52.0-
1.5-
1.0-
220i
200180160140-
564. Federal Government
defense, Q (ann.rate
12010080-
40-
565. National defense
10.
987.
65-
.1956
57
58
59
60
61
6?
67
77
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 91.
SEPTEMBER 1982
55
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
602. Exports, excluding
(Ml. dol.; MCD movint
604. Exports of
total
606. Exports of nonelectrical machmery (bl.
512. General imports (M. dot.; MCD moving
616. Imports of automobiles
j7
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 92.
56
SEPTEMBER 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
667. Balance on goods and »er»
622. Merchandise trade balance, Q
651. Income on U.S. investments
1956
57
58
59
60
61
62
63
64
65
66
67
6H
69
70
72
73
74
75
76
77
78
73
80
81.
82
19H.5
NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.
BCD
SEPTEMBER 1982
57
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
Industrial production—
721. OECD European countries
60-*
1956
57
58
59
60
61
62
63
64
fo
66
6?
68
<•'
ti.)
81
82
Current data for these series are shown on page 94.
58
SEPTEMBER
1982
ltd*
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Continued
Chart F2. Consumer Prices
Chart F3. Stock Prices
I Percent change at annual rate |
[6-rnonth spans]
I Inder 1967=1001
Stock prices—
Consumer prices-
19. United States
160-1
140'
120 •
100
A£
80'
60'
600-1
748. Japan
i^V-taiL
~^^^ ^ I8J
V^"
Av ~\S~v.W~
r
^
/ "
500
400
300
200 J
745. West Germany
10U-
|X
/**»r\i
"V
-^-
><\u/1^
- mi,, X"^- *
^
<L
140-
—
^*IPV. M
120100»n-
1971
72
73
74
75
76
,'/
/;-
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 95 and 96.
ItCII
SEPTEMBER
1982
59
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS
Qj COMPOSITE INDEXES
Year
and
month
910. Index of
12 leading indicators (series
1, 5, 8, 12, 19,
20, 29, 32, 36,
92, 104, 106)
920. Index of
4 roughly
coincident indicators (series
41, 47, 51, 57)
930. Index of
6 lagging indicators (series
62, 70, 72,
91,95, 109)
(1967 = 100)
(1967 = 100)
(1967 = 100)
940. Ratio,
coincident
index to
lagging index
(1967 = 100)
Leading indicator subgroups
913. Marginal
employment
adjustments
(series 1, 2, 3,
5)
914. Capital
investment
commitments
(series 12, 20,
29)
915. Inventory
investment
and purchasing
(series 8, 32, 36,
92)
916. Profitability (series
19, 26, 80)
917. Money
and financial
flows (series
104, 106, 110)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
C1)
1980
January
February
March
134.7
134.1
131.5
146.1
145.2
143.5
178.4
180.8
190.0
81.9
80.3
75.5
96.3
96.4
94.5
111.6
109.9
107.8
102.7
102.1
101.6
90.9
91.6
89.6
137.2
138.7
136.4
April
May
June
126.2
123.0
123.9
140.5
138.0
136.7
196.2
183.5
168.5
71.6
75.2
81.1
90.3
88.3
89.6
104.3
103.2
104.5
100.3
98.8
97.7
88.7
88.5
89.7
131.8
126.4
128.9
July
August
September
128.1
130.7
134.4
136.5
136.7
138.1
163.6
161.7
164.2
October
November
December
135.0
136.5
136.4
139.7
140.8
141.3
135.2
134.2
135.8
83.4
D84.5
84.1
91.7
92.2
92.9
106.1
107.0
0)108.8.
98.5
99.5
101.5
90.6
91.3
91.5
133.5
137.4
139.0
168.5
175.6
191.0
82.9
80.2
74.0
93.6
94.2
94.5
107.3
108.2
108.3
103.1
103.4
103.2
91.8
92.2
93.0
139.4
139.9
138.8
142.0
142.5
142.4
189.1
186.5
181.2
75.1
76.4
78.6
94.2
94.1
94.1
106.7
105.2
106.0
102.1
103.1
103.7
93.9
94.4
0)94.5
139.4
137.5
139.0
0)137.3
136.0
135.2
142.2
142.2
142,7
179.4
189.6
191.4
79.3
75.0
74.6
94.9
94.2
94.5
106.3
105.1
103.6
0)104.3
103.7
103.5
94.4
93.7
93.8
140.4
140.7
140.1
July
August
September . . . . . . .
134.8
134.1
r!30.7
D142.8
142.5
141.8
192.6
193.5
0)194.1
74.1
73.6
73.1
0)95.0"
93.6
91.4
102.5
102.4
rl01.5
103.8
102.8
101.9
93.5
93.8
92.3
139.1
138.5
r!36.4
October
November
December
r!28.3
128.2
127.2
139.9
r!38.5
136.5
189.5
184.9
181.7
73.8
74.9
75.1
90.5
90.3
89.3
r99.0
99.7
99.3
100.6
99.6
98.7
92.3
92.4
r91.6
r 135.0
r!34.4
r!34.8
2
125.7
3
125.2
3
182.3
184.0
183.7
73.6
73.8
73.5
(NA)
125.1
134.1
135.7
135.0
99.0
98.0
99.4
97.2
96.4
95.9
r90.0
r88.8
r88.2
r!35.8
r!36.0
r!38.1
rl26.6
3
127.7
3
rl28.3
134.0
134.9
r!33.2
184.5
184.2
r!83.6
72.6
73.2
72.5
100.3
99.4
r99.2.
r95.8
97.2
r98.3
r88.6
r88.4
(NA)
r!40.1
r!41.0
r!40.2
182.5
172.1
r72.8
p76.7
rlOO.2
p98.4
99.1
p98.4
1981
January
February . .
March
April
May
June
1982
January
February
March
April
May
June
July
August
September
3
3
129.8
"128.6
5
132.8
132.0
6
r!40.0
0)pl42.8
October
November
December
NOTE: Series are seasonally adjusted except for those, indicated by ®, that appear to contain no seasonal movement. Current high values are indicated by 0); for series that move counter to movements
in general business activity, current low values are indicated by0). Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back
of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
1
See "New Features and Changes for This Issue" on page iii of the February 1982 issue.
2
Excludes series 12, for which data are not available, and includes a substitute value for series 1. See "New Features and Changes for
This Issue" on page iii of the March 1982 issue.
3
Excludes series 12, for which data are not available. See "New Features and Changes for This Issue" on page iv of the July 1982 issue.
4
Excludes series 12 and 36, for which data are not available.
5
Excludes series 57, for which data are not available.
6
Excludes series 70 and 95, for which data are not available.
60
SEPTEMBER 1982
KCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
JQ EMPLOYMENT AND UNEMPLOYMENT
Minor Economic
Process
Timing Class
Year
and
month
L,L, L
L, L, L
L,C, L
1. Average
workweek of
production
workers,
manufacturing
21. Average
weekly overtime
hours, production workers,
manufacturing
(Hours)
(Hours)
2. Accession
rate, manufacturing
L, C, L
5. Average
weekly initial
claims, State
unemployment
insurance l
(Per 100 em-
ployees)
(Thous.)
C2)
1980
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
L, L, L
3. Layoff rate,
manufacturing
L, Lg, U
4. Quit rate,
manufacturing
(Per 100 em-
(Per 100 em-
ployees)
ployees)
(2)
(2)
U, C, C
L, Lg, U
L, Lg, U
60. Ratio, helpwanted advertising to persons
unemployed
46. Index of
help-wanted
advertising
in newspapers
48. Employeehours in nonagricultural
establishments
(Ratio)
(1967 = 100)
(Ann. rate,
bil. hours)
January
February . . .
March . .
40.3
40 0
39 g
3.1
2.9
3 1
3.9
3.8
3.7
416
397
438
1.4
1 3
1 4
1.9
1 9
18
0.688
0.677
0.643
154
151
145
171.55
171.45
170.58
April
May
June
39 8
39 4
39 2
3 0
2 6
2 4
3 2
3 1
3 4
532
616
581
2 7
3 2
2 6
1 6
1 5
14
0 493
0 414
0 427
122
112
115
169.68
168.95
168.24
July
August
September
39.2
39.4
39.6
2.5
2.7
2.8
3.5
3.6
3.7
510
495
488
1.6
1.8
1.5
1.4
1.4
1.3
0.422
0.423
0.453
118
117
122
167.36
168.22
168.95
October
November
December
39 6
39.8
40.0
2 8
3.0
3.0
B>3 7
3.6
3.5
447
422
420
15
1.3
1.2
1 3
1.4
1.5
0 466
(H)0.495
0.490
127
B>134
130
169.31
169.19
170.24
i n
2.8
2 s
3 5
3.5
3 4
424
410
413
1 4
1.3
1 3
1 4
1.4
1 3
0 475
0.482
0 468
128
129
125
[H>171 34
170.20
170.77
0
n
3 4
3 1
3 4
395
401
405
i1
1 3
1 3
1 "3
1 3
14
0 445
n 4?fi
n A^n
1 1ft
121
169 57
170 80
170 70
H)i o
n Afift
123
. .
1981
January . . . .
February
March . . . .
[R>4n 4
39.7
3Q q
April
May
June
40 1
July
August
September
40 0
3 0
3 4
39 9
39.4
3 0
2.7
O 9
2.9
[H)395
d?l
483
October
November
December
39.5
39.3
39.1
2.7
2.5
2.4
2.9
3.1
2.7
517
539
551
07 c
2
2.4
2.3
/\r\ ?
An i
[D\o
3
f|
1
O
1.7
1 ^
1.3
0.405
112
171 04
170 96
167.34
2.2
2.3
2.2
1.2
1.1
1.1
0.378
0.363
0.339
110
111
109
169.73
168.76
168.66
1 HA
103
96
165 66
168.93
167.92
1 A.
(H)l 5
AflA
11 Q
1982
January . . .
February
March
April
May
June
July
August
September
39.4
39.0
OQ r\
39.1
OQ
0
39 3
p39.0
0
2 A
2.3
2 .4
/1
2 4
p2.4
(NA^
563
514
566
(\nn)
NA^
(\nf\)
NA^
O
OOQ
0.320
0.290
ccc
0 . £0 0r- 4/i
QQ
00
i c y po
585
CC 1
box
0.245
0.243
87
85
167.99
515
597
rO.229
pO.215
r83
p78
v1££
£9
r!66.54
P166.12
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 16, and 17.
1
Data exclude Puerto Rico, which is included in figures published by the source agency.
2
See "New Features and Changes for This Issue" (item 2) on page iii of the February 1982 issue.
SEPTEMBER 1982
61
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Qg EMPLOYMENT AND UNEMPLOYMENT-Continued
Minor Economic
Process
Timing Class
Year
and
month
Comprehensive Employment-Continued
Comprehensive Unemployment
U, C, C
C, C, C
L, C, U
U, Lg, U
42. Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
(Thous.)
(Thous.)
(Thous.)
(Percent)
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
37. Number of
persons unemployed, labor
force survey
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate,
State programs '
91. Average
duration of
unemployment
44. Unemployment rate,
persons unemployed 15
weeks and over
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
L, Lg, U
1980
January
February
March
96,506
96,521
96,205
90,801
90,846
90,929
26,489
26,377
26,285
59.20
59.17
58.91
6,660
6,635
6,714
6.3
6.2
6.3
3.3
3.2
3.4
10,5
10,6
11.0
1.3
1.3
1.4
April
May
June
95,832
95,552
95,483
90,723
90,308
89,976
25,951
25,628
25,329
58.55
58.39
58.20
7,370
8,059
8,024
6.9
7.5
7.5
3.7
4.2
4.5
11.3
10.7
11.7
1.6
1.6
1.7
July
August
September
95,546
95,667
95,759
89,692
89,955
90,126
25,055
25,203
25,271
58.16
58.11
58.21
8,330
8,239
8,024
7.8
7.7
7.5
4.3
4.2
4.2
11.9
12.4
13.0
1.9
2.0
2.1
October
November
December
95,965
96,164
96,146
90,320
90,560
90,725
25,355
25,484
25,537
58.21
58.27
58.26
8,109
8,066
7,899
7.5
7.5
7.3
4.0
3.8
3.6
13.2
13.5
13.6
2.1
2.2
2.2
96,456
96,723
97,063
90,909
90,913
91,014
25,588
25,501
25,588
58.34
58.38
58,52
8,022
7,965
7,958
7.4
7.4
7.3
3.5
3.3
3.4
14.4
14.1
13.9
2.2
2.1
2.1
97,408
0)97,640
97,082
91,099
91,131
91,286
25,534
25,540
25,656
58.73
1)58.76
58.33
7,899
8,248
8,004
7.3
7.5
7.4
3.4
3.3
3.3
13.7
13.3
14.3
2.0
2.0
2.2
97,522
97,436
96,900
B>91,396
91,322
91,363
0)25,718
25,637
25,583
58.51
58.44
58.03
S)7,824
7,978
8,236
H)7.2
7.3
7.6
D3.1
3.2
3.3
14,1
14.3
13.7
2.0
E>2.0
3.5
13.6
13.1
1981
January
February
March
April
May
June
July
August
September
"2.1
96,965
96,800
96,404
91,224
90,996
90,642
25,393
25,176
24,908
58.01
57.85
57,47
8,669
9,100
9,571
8.0
8.3
8.8
3.9
4.1
H)12.8
2.1
2.2
2.2
January
February
March
96,170
96,217
96,144
90,460
90,459
90,304
24,684
24,631
24,450
57.40
57.35
57.23
9,298
9,575
9,854
8.5
8.8
9.0
4.0
4.0
4.3
13.5
14.1
13.9
2.2
2.5
2.7
April
May . ."
June
96,032
96,629
96,406
90,083
90,166
r89,839
24,289
24,255
r23,994
57.09
57.47
57.22
10,307
10,549
10,427
9.4
9.5
9.5
4.6
4.6
4.7
14.2
14.6
16.5
2.7
3.0
3.3
July
August
September
96,272
96,404
r89,662
p89,451
r23,880
p23,730
57.14
57.15
10,790
10,805
9.8
9.8
4.5
p4.6
15.6
16.2
3.2
3.3
October
November
December
1982
October
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 15, 17, and 18.
*Data exclude Puerto Rico, which is included in figures published by the source agency.
62
SEPTEMBER 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Qg PRODUCTION AND INCOME
Minor Economic
Process
Timing Class
Year
and
month
Industrial Production
Comprehensive Output and Income
C, C, C
50. Gross national product
in 1972 dollars
C,C,C
52. Constant
(1972) dollars
51. Personal
income, less
transfer payments, in 1972
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
53. Wages and
salaries in
mining, mfg.,
and construction in 1972
dollars
(Ann. rate,
bil. dol.)
Personal income
223. Current
dollars
(Ann. rate,
bil. dol.)
C.C.C
C, C , C
(Ann. rate,
bil. dol.)
C, C, C
47. Index of
industrial
production,
total
(1967 = 100)
C, C , C
C, L, L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
production,
nondurable
manufactures
(1967 = 100)
(1967 = 100)
C, C, C
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil. dol.)
1980
January
February
March
1,494!9
2,076.6
2,084.5
2,099.2
1,215.8
1,206.3
1,201.6
1,055.3
1,048.2
1,044.1
241.1
240.2
237.3
153.0
152.8
152.1
144.8
144.4
143.5
166.0
165.8
164.3
682! 5
April
May
June
1,457.8
2,098.0
2,107.7
2,123.0
1,192.7
1,190.1
1,190.0
1,033.8
1,029.9
1,029.5
232.9
229.5
227.3
148.2
143.8
141.4
138.5
133.3
129.9
161.6
158.1
155.1
658 ! 2
July
August
September
1,463'.8
2,162.5
2,183.3
2,210.0
1,204.7
1,204.2
1,208.3
1,030.9
1,032.5
1,035.1
226.9
229.9
230.6
140.3
142.2
144.4
128.7
129.9
132.1
154.6
157.6
161.0
659. *5
October
November
December . . . . . . .
1,479.*4
2,236.8
2,260.2
2,283.0
1,214.3
1,217.8
1,222.2
1,041.7
1,046.7
1,051.3
231.1
232.2
232.3
146.6
149.2
150.4
135.7
139.2
140.3
162.1
163.0
165.0
671.*6
January
February
March
1,507.8
2,308.1
2,330.1
2,351.7
1,227.1
1,232.2
1,234.5
1,056.2
1,061.9
1,064.0
0)234.2
231.6
231.8
151.4
151.8
152.1
141.0
140.8
142.1
165.6
166.2
165.3
692.' 8
April
May
June
1,502^2
2,364.5
2,379.1
2,398.4
1,234.7
1,234.0
1,239.5
1,064.5
1,065.0
1,069.4
231.5
231.6
232.3
151.9
152.7
152.9
142.5
143.5
143.2
165.9
166.4
165.8
689! 8
July
August
September
0)1,5KL4
2,436.3
2,459.6
2,478.6
1,248.1
1,253.6
1,253.1
1,071.8
0)1,078.3
1,077.9
232.0
231.4
228.9
0)153.9
153.6
151.6
0)143.6
143.4
140.9
167.1
D167.3
165.9
0)697!2
October
November
December
l,490."i
2,487.2
2,499.0
2,497.6
1,251.1
1,250.1
1,245.7
1,076.5
1,074.3
1,069.3
228.1
226.0
223.1
149.1
146.3
143.4
137.8
134.4
131.3
162.8
160.3
157.4
678.'6
1,470.7
2,499.1
2,513.8
2,518.6
1,236.0
1,243.8
1,245.0
1,061.7
1,068.8
1,068.3
222.2
223.3
221.7
140.7
142.9
141.7
127.1
129.3
128.2
155.1
157.8
157.3
661.8
rl,478!i
r2,535.5
r2,556.2
r2,566.3
rl,249.6
0>rl,256.7
rl,248.8
rl,070.3
rl,077.4
rl,070.3
220.9
220.3
r217.5
140.2
139.2
r!38.5
126.7
r!26.1
r!25.5
156.1
r!55.0
r!55.0
663*. 2
r2,592.5
E)p2, 601.0
rl, 253.0
pi, 252. 3
rl.069.5
pi, 069.0
r216.2
P214.5
r!38.7
P138.0
r!25.9
P124.5
r!55.3
p!55.4
1981
1982
January
February
March
April
May
June
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 19, 20, and 40.
SEPTEMBER
1982
63
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q| PRODUCTION AND INCOME-Contmued
^g CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Capacity Utilization
Orders and Deliveries
Minor Economic
Process
Timing Class
Year
and
month
L, C, U
83. Rate of
capacity
utilization,
manufacturing
(BEA)
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L.L.L
L, L, L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil. dol.)
7. Constant
(1972) dollars
(Bil. dol.)
L, L, L
L, L, L
L, Lg, U
L, L, L
8. New orders
for consumer
goods and
materials in
1972 dollars
25. Change in
unfilled orders,
durable goods
industries
96. Manufacturers' unfilled
orders, durable
goods industries
32. Vendor
performance,
companies receiving slower
deliveries ®
(Bil. dol.)
(Bil. dol.)
(Bil. dol.)
(Percent
reporting)
1980
January
February
March
83*4
85!s
83.62
82.83
78.97
41.81
40.94
39.02
36.63
36.38
33.86
4.19
2.46
1.32
296.07
298.54
299.86
48
42
45
77*9
78.* 8
74.64
69.47
71.29
36.79
34.12
34.68
31.24
30.28
30.18
-0.17
-3.14
-0.72
299.69
296.56
295.83
40
32
28
75*9
75!2
78.94
76.34
81.81
38.04
36.51
38.92
31.97
32.38
33.75
D3.91
1.37
2.75
299.75
301.12
303.86
32
34
39
79!l
80.1
83.08
82.89
84.98
39.08
38.84
39.47
34.78
34.48
33.96
1.63
1.19
3.37
305.49
306.68
310.05
44
45
47
1.10
0.52
0.35
311.15
311.67
312.02
46
50
52
1.62
1.96
0.02
313.64
315.60
315.62
|H>56
52
48
*80
April
May .
June .
*76
July
August
September
October
November
December
*76
*78
1981
January .
February . .
March . .
April
May
June
E>79*9
D82*2
82.53
82.70
83.86
38.23
38.15
38.49
33.05
34.38
33.92
79*8
81.*2
86.41
87.40
86.91
39.33
(H)39.51
39.06
34.59
D35.09
35.02
79*. 3
81.* i
H>87.58
84.82
84.46
39.15
37.73
37.42
34.65
33.12
32.81
1.84
-0.40
-0.22
[H>317.46
317.06
316.84
46
48
43
74!s
75*2
77.19
78.59
76.42
34.02
34.44
33.43
30.72
30.03
30.01
-4.07
-1.69
-2.71
312.77
311.08
308.37
38
32
30
7i'.6
72.'6
75.06
76.31
77.86
32.79
33.40
34.01
28.78
29.28
30.25
-0.49
-1.67
-0.26
307.88
306.21
305.95
32
36
35
r76!3
egie
r76.19
r75.71
r74.55
r33.27
r32.89
r32.24
r29.14
r30.56
r30.06
r-0.94
r-3.81
r-4.33
r305.00
r301.19
r296.87
31
30
38
r76.45
p73.42
r33.02
P31.68
r30.69
p28.68
r-2.59
p-3.41
r294.27
P290.86
37
40
*78
0)78
July
August
September
October
November
December
*76
*72
1982
January
February
March
April
May
June
*72
p7i
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 20, and 21.
64
SEPTEMBER
1982
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class . .
C, C, C
C.L, C
C, C , C
56. Current
dollars
(Mil. dol.)
57. Constant
(1972) dollars
(Mil. dol.)
Revised
1980
75. Index of industrial production, consumer
goods
(1967 = 100)
C, I, U
U, L, U
Sales of retail stores
54. Current
dollars
(Mil. dol.)
1
FIXED CAPITAL
INVESTMENT
Formation of Business Enterprises
Consumption and Trade
Manufacturing and trade sales
Year
and
month
B
Q| CONSUMPTION, TRADE, ORDERS, AND DEUVERIES-Contmued
59. Constant
(1972) dollars
(Mil. dol.)
Revised
L, C, C
55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil. dol.)
L, L, L
58. Index of
consumer,
sentiment ®
(IstQ
1966=100)
1
L, L, L
12. Index of
net business
formation
(1967 = 100)
L, L L
13. Number of
new business
incorporations
(Number)
(2)
316,565
317,513
313,589
161,059
159,585
155,497
147.9
148.2
148.0
78,409
77,951
76,898
45,746
45,058
43,917
68!6
67.0
66.9
56.5
131.0
129.8
125.8
44,230
44,175
43,359
307,644
306,516
307,113
152,220
150,095
150,639
145.2
142.1
141.8
76,543
76,730
77,616
43,416
43,326
43,531
50'.9
52.7
51.7
58.7
120.5
117.8
114.8
42,240
42,710
40,648
July
August
September
316,518
319,783
328,922
153,118
151,327
155,068
142.1
142.9
144.5
79,114
79,393
80,026
44,173
43,815
43,706
58^9
62.3
67.3
73.7
115.3
117.7
120.6
43,621
44,255
45,746
October . . . .
November
December
336,198
339,269
342,509
157,438
157,324
158,171
146.3
148.1
147.1
81,325
82,249
82,855
44,222
44,459
44,522
64^7
75.0
76.7
64.5
119.6
119.2
0)121.3
45,945
46,750
47,840
348,308
349,441
350,352
158,662
1)159,555
159,019
146.9
147.8
148.3
84,104
85,201
86,128
44,903
45,199
45,426
0)7L6
71.4
66.9
66.5
118.1
117.1
117.7
46,039
48,588
47,972
352,751
353,398
0)356,277
159,036
157,783
159,201
148.9
150.7
150.3
86,263
86,361
87,299
45,259
45,074
45,421
63.0
72.4
76.3
73.1
118.0
115.4
114.6
49,413
48,997
49,172
July
August
September
355,070
354,594
353,419
158,268
156,707
156,711
|H>150.7
149.6
147.8
87,292
87,961
87,823
45,135
45,317
44,945
yiis
74.1
1)77.2
73.1
113.1
113.6
rill. 5
49,404
48,631
48,450
October
November
December
346,619
344,913
341,106
152,649
152,494
151,360
146.5
144.0
142.0
86,413
86,733
86,572
44,088
44,161
43,990
62!s
70.3
62.5
64.3
r!07.5
108.5
e!06.0
47,947
0)49,413
47,556
January
February
March
334,710
341,415
r342,340
147,362
151,304
151,814
139.6
141.8
141.5
85,320
87,418
87,242
43,026
44,173
44,128
68*. 6
71.0
66.5
62.0
April
May
June
339,385
r349,280
r345,555
150,549
154,914
152,371
142.1
r!43.6
r!44.6
88,294
0)90,841
r88,042
44,638
83)45,764
43,955
r67\S
65.5
67.5
65.7
July
August
September
p345,409
(NA)
p!52,342
(NA)
r!45.7
p!44.0
r89,089
p88,292
44,301
p43,817
January
February
March
April . ,
May
June
..
1981
January
February
March
April
May
June
1982
(NA)
43,330
47,234
46,899
46,876
46,995
(NA)
65.4
65.4
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23.
x
See "New Features and Changes for This Issue," page iii.
See "New Features and Changes for This Issue" on page iv of the July 1982 issue.
2
SEPTEMBER 1982
65
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q| FIXED CAPITAL INVESTMENT-Continued
Minor Economic
Process
Timing Class
Business Investment Commitments
L, L, L
L, L, L
Contracts and orders for plant
and equipment
Year
and
month
10. Current
dollars
(Bil. dol.)
20. Constant
(1972) dollars
(Bil. dol.)
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil. dol.)
L, C, U
L, L, L
9. Construction contracts for commercial and industrial buildings 1
27. Constant
(1972) dollars
Square feet of
floor space
(Bil. dol.)
(Millions)
Square meters of
floor space 2
(Millions)
U, Lg, U
C, Lg, Lg
11. Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, 1,000
manufacturing
corporations
(Bil. dol.)
(Bil. dol.)
1980
January
February
March
28.47
25.74
26.24
16.20
13.68
14.00
25.43
23.18
23.36
14.74
12.48
12.65
99.43
82.08
78.31
9.24
7.63
7.27
27! 50
April
May
June
26.23
23.46
25.34
13.89
12.64
13.96
23.74
21.15
22.21
12.74
11.57
12.54
72.76
67.35
71.59
6.76
6.26
6.65
25*81
July
August
September
27.09
26.52
26.75
15.20
14,04
14.41
24.28
22.19
23.59
13.93
12.09
12.98
74.62
71.41
64.15
6.93
6.63
5.96
24*. 12
October
November
December
26.74
27.61
28.70
13.94
14.32
0)15.66
23.31
23.70
25.22
12.40
12.58
0)14.12
73.46
0)90.80
87.75
0)8.44
29.13
25.57
28.17
15.10
12.69
14.17
25.06
21.86
24.46
13.32
11.06
12.56
83.72
83.86
83.79
7.78
7.79
7.78
27.*70
E>30.61
28.07
28.70
15.19
14.09
14.16
D25.69
24.49
24.04
13.05
12.53
12.14
79.64
84.75
81.01
7.40
7.87
7.53
0)28.' 06
July
August
September
r28.25
r27.86
27.92
r!3.49
r!4.12
14.29
24.66
24.87
24.31
11.94
12.83
12.75
73.46
78.67
68.12
6.82
7.31
6.33
26. *94
October
November
December
26.24
27.71
26.81
13.28
14.23
13.97
22.53
24.37
22.13
11.68
12.80
11.98
74.26
70.77
70.65
6.90
6.57
6.56
22*99
January
February
March
26.32
24.90
25.67
13.27
11.95
12.98
21.72
21.56
22.17
11.32
10.54
11.49
56.29
65.10
63.17
5.23
6.05
5.87
25*77
April
May
June
25.69
22.95
23.78
13.84
11.39
11.24
22.61
20.33
19.28
r!2.54
10.28
5.33
4.80
6.32
P 20.04
9.35
57.32
51.70
68.02
r22.97
p23.10
rlO.79
plO.85
r20.32
P19.46
r9.68
p9.33
56.41
61.12
5.24
5.68
6.82
82! 36
86*38
88 '.12
26*i5
90*73
8.15
1981
January
February
March
April
May
June
93.*44
96.* 18
0)97.' 34
92*74
1982
July
August
September
91.11
P82.96
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 23, and 24.
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
Converted to metric units by the Bureau of Economic Analysis.
66
SEPTEMBER 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
|Q FIXED CAPITAL INVESTMENT-Continued
Minor Economic
Process
Timing Class
Year
and
month
Residential Construction
Commitments and Investment
Business Investment Expenditures
C, Lg, Lg
C, Lg, Lg
C, Lg, U
61. Business
expenditures
for new plant
and equipment,
total
69. Machinery
and equipment
sales and business
construction
expenditures
76. Index of
industrial production, business
equipment
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(1967 = 100)
C, Lg, C
Lg, Lg, Lg
C, Lg, C
Nonresidentia 1 fixed investment ir 1972 dollars
86. Total
(Ann. rate,
bil. dol.)
87. Structures
(Ann. rate,
bil. dol.)
88. Producers'
durable equipment
(Ann. rate,
bil. dol.)
L, L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967 = 100)
L, L, L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
1980
January
February
March
291 89
312 50
320 69
317 90
175 2
176 5
176 2
171 9
51 1
120 8
1 339
1 356
1 060
103 4
96 8
79 8
53 4
April
May
June
294.' 36
310.76
313.38
312.48
174.5
171.8
169.7
162*4
48*5
113*9
1,030
939
1,196
65.3
69.5
90.3
42*6
July
August
September
296 23
315 98
306 42
324.35
169 5
171 1
170.7
163 8
47 1
1 1fi 7
October
November
December . . . . . . . .
299*58
326.37
325.84
328.40
171.9
173.9
177.1
166*4
47*5
January
February
March
332.78
331.57
344.52
111 .1
312.24
169.7
April
May
June
316.73
344 36
345.78
353.20
181 0
182.0
183 6
July
August
September
[H>328.25
348.42
357.31
H)360.38
October
November
December
327.83
January
February
March
April
May
June
1 273
101 7
AA n
1 418
i in 4
1,463
|H)119.9
118*9
1,504
1,539
1,457
110.3
111.7
100.9
120.1
E)l»585
1,294
1,318
99 8
49.5
170.1
51*6
119 1
1 301
1,172
1 046
95 s
95 2
79 6
0)184 8
184.4
182.7
173.9
52.5
1)121.4
1 040
946
899
70.9
67.4
349.27
358.67
356 78
180.5
179 0
179 0
[H)174 2
53*3
120*9
854
860
882
60 0
64 4
327*72
330.07
342.57
343.72
172.2
171.6
169.0
17216
53*5
118*5
885
945
931
64.9
64.0
68.7
38 '.9
323. '22
325.51
335.59
r331.34
164.9
r!59.9
r!56.4
rl66.*7
E)r53."7
rl!3.'6
882
1,066
r908
71.0
76.3
75.0
r40*i
p323.79
r!53.6
P151.4
rl,195
pi, 002
85.8
71.7
49*5
1981
177.5
179.3
96.6
94.7
1)49.6
47 3
76 0
42.9
59.6
39 9
1982
July
August
September
ra320.24
October
November
December
ra324.*47
(NA)
See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.
SEPTEMBER 1982
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q| INVENTORIES AND INVENTORY INVESTMENT
Minor Economic
Process
Timing Class
Year
and
month
Inventory Investment
Inventories on Hand and on Order
L, L, L
L, L, L
L, L, L
L, L, L
30. Change in
business inventories in 1972
dollars
36. Change in inventories on
hand and on order, 1972 dollars
31. Change
in book value
of mfg. and
trade inventories, total
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
(Ann. rate,
bil. dol.)
Monthly
data
(Ann. rate,
bil. dol.)
Smoothed
data 1
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Bil dol.)
Lg, Lg, Lg
Lg, U- Lg
Manufacturing and trade
inventories
71. Current
dollars
(Bil dol.)
70. Constant
(1972) dollars
(Bil dol.)
Lg, Lg, Lg
Lg, Lg, Lg
L, Lg, Lg
65. Manufacturers' inventories of
finished
goods, book
value
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Bil dol.)
(Ratio)
(Bil dol.)
Revised
1980
2
-12.36
-13.06
-10.27
56.5
51.5
49.8
2.76
2.86
1.52
448.84
453.13
457.28
264.08
263.78
263.95
74.00
75.02
76.31
1.64
1.65
1.70
215.40
218.26
219.78
-15.94
-26.63
-6.34
-5.09
-9.88
76.3
26.8
17.6
-0.54
-1.97
-1.55
463.64
465.88
467.34
265.69
265.61
264.67
77.76
78.84
79.14
1.75
1.77
1.76
219.24
217.27
215.72
-10.99
-9.46
-0.65
-15.86
-16.77
-11.36
31.3
38.1
32.5
@)1.97
-0.18
0.85
469.95
473.12
475.83
264.36
263.66
263.62
79.84
80.14
79.90
1.73
1.74
1.70
217.69
217.51
218.36
-6.*2
4.27
-7.32
-5.89
-4.49
-1.59
-2.11
33.1
21.9
25.9
1.43
1.32
0.78
478.59
480.42
482.57
263.77
263.09
262.78
79.84
80.31
79.99
1.68
1.67
1.66
219.79
221.11
221.89
2A
-15.50
16.34
-5.47
-6.28
-5.63
-1.61
36.0
55.5
24.4
0.58
0.77
-0.34
485.57
490.19
492.23
262.33
263.33
263.10
79.42
80.55
82.36
1.65
1.65
1.65
222.47
223.24
222.90
0.32
D17.44
17.27
1.09
3.91
7.89
22.1
44.0
43.8
1.31
1.64
0.55
494.07
497.74
501.38
263.41
264.70
265.92
82.10
83.55
84.00
1.66
1.68
1.67
224.21
225.85
226.40
5.15
4.84
14.14
0)12.48
11.19
8.56
40.3
62.6
1.88
-1.09
504.74
509.96
515.39
266.53
267.56
269.42
84.22
85.65
86.86
1.68
1.71
1.72
228.28
227.19
0)228.32
4.8
...
-1.16
-2.51
-20.09
6.99
4.72
-2.22
-19.4
-2.71
-1.26
-1.22
518.46
0)521.64
520.02
270.47
0)271.17
269.85
88.05
0)88.50
87.66
1.77
1.78
1.78
225.61
224.35
223.13
January
February
March
-is!i
...
-33.66
-25.61
-9.22
-13.34
-22.60
-24.64
-43.0
-31.7
r-12.4
-2.96
-2.64
-2.11
516.44
513.80
r512.77
267.69
266.45
265.98
86.84
87.90
88.49
0)1.82
1.76
1.75
220.17
217.53
215.42
April
May
June
r-4.4
r-6.66
r-28.33
r-7.19
r-18.33
r-14.28
r-14.40
r25.4
-54.3
r28.8
-1.67
-2.33
-4.04
514.88
510.36
r512.75
r266.54
r264.54
r265.18
87.39
86.56
85.90
1.77
1.71
1.74
213.75
211.42
207.39
pO.13
(NA)
p-12.93
(NA)
p8.2
(NA)
p-0.80
p513.44
p265.57
86.61
pi. 74
p206.59
(NA)
(NA)
January
February
March
-2.6
April
May
June
-2.S
July
August
September
-8.' 5
October
November
December
-11.29
-11.18
-2.68
0.96
1981
January
February
March
April
May
June
12.1
July
August
September
October
November
December
0)16! 5
0)65.1
36.9
38.2
1.12
1982
July
August
September
(NA)
(NA)
(NA)
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 15, 26, and 27.
lr
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
2
See "New Features and Changes for This Issue," page iii.
SEPTEMBER 1982
(NA)
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Qj PRICES, COSTS, AND PROFITS
Minor Economic
Process
Sensitive Commodity Prices
Timing Class
L, L, L
U, L, L
92. Change in sensitive crude
materials prices
Year
and
month
23. Index of
spot market
prices, raw
industrials3®
Smoothed
data 2
Monthly
data
(Percent)
Stock
Prices
(Percent)
(1967 =100)
L L, L
19. Index of
stock prices,
500 common
stocks ©
(1941-43 = 10)
Profits and Profit Margins
L, L, L
L, L, L
Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bit. dot.)
18. Constant
(1972) dollars
(Ann. rate,
bil. dot.)
L, C, L
L, C, L
Corporate profits after taxes
with IVA and CCAdj '
79. Current
dollars
(Ann. rate,
bil. dol.)
80. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic income
(Percent)
1980
January
February
March
3.21
1.48
-1.44
2.30
2.30
1.65
316.2
322.5
316.9
110.87
115.34
104.69
172!9
97!6
io6!6
56\7
icL8
0.64
79A
98!9
54!s
8.9
[H>84.'2
95!e
52!6
9*.7
49.*8
[H>9!9
April
May
June
0.54
0.07
0.96
-0.04
301.9
278.5
267.5
102.97
107.69
114.55
144 '.3
0.12
July
August
September
2.04
2.41
2.06
0.77
1.41
1.99
277.6
292.1
298.3
119.83
123.50
126.51
15^9
October
November
December
2.46
2.31
1.45
2.24
2.29
2.18
300.8
(H>304.7
298.4
130.22
|H>135.65
133.48
158!i
83!7
93.4
2.74
2.12
2.89
291.6
284.2
289.8
132.97
128.40
133.19
EDieiie
84!6
108.' 8
Dseis
9\8
1981
January
February
March
[H>6.64
-0.62
April
May
June
E>3.26
1.71
2.25
0.23
2.75
1.84
1.26
293.0
288.9
282.9
134.43
131.73
132.28
146 ! 2
74 '.2
105.9
54 .'i
8*.8
0.47
1.19
0.50
0.12
286.6
289.5
283.0
129.13
129.63
118.27
15CL8
75.*4
11CL7
55!e
8.*8
-0.05
-0.29
-0.38
277.2
270.5
264.2
119.80
122.92
123.79
144.' 9
7L2
H>112!3
5^5
0.16
s!i
-1.13
-2.09
-2.21
-0.49
-0.76
-1.42
263.4
261.0
254.5
117.28
114.50
110.84
rll5.'6
r56.*3
rlOO.'i
r49.*2
r6.*7
r-0.42
rl.81
r-1.69
r-0.92
247.4
245.5
232.2
116.31
116.35
109.70
rll6.*3
r56.*2
rlOO.'i
r48.*5
6.*7
237.0
236.2
"239.7
109.38
109.65
5
122.69
July
August
September
-0.63
October
November
December
-1.09
-0.51
0.79
1982
January
February
March
April
May
June
July
August
September
0.78
0.22
1.03
rO.96
-0.26
0.86
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
X
2
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
This series is a weighted 4-term moving average (with
weights 1,2,2,1) placed on the terminal month of the span.
Beginning with data for June 1981, this series is based on copyrighted data
used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc. "Average for September 1
5
through 21, excluding weekends.
Average for September 1, 8, 15, and 22.
IM Jl SEPTEMBER 1982
69
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS . . .
Minor Economic
Process
Timing Class
Year
and
month
MB
PRICES, COSTS, AND PROFITS-Continued
Cash Flows
Profits and Profit Margins— Continued
U.L, L
L, L, L
L, L, L
81. Ratio,
profits (after
taxes) with IVA
and CCAdj to
corp. domestic
income *
15. Profits (after
taxes) per dollar
of sales, all
manufacturing
corporations
26. Ratio, price
to unit labor
cost, nonfarm
business sector
(Percent)
(Cents)
(1977 = 100)
L, L, L
Unit Labor Costs and Labor Share
L, L, L
Net cash flow, corporate
34. Current
dollars
(Ann. rate,
bit. dol.)
35. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
Lg. Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
63. Index of
unit labor cost,
private business
sector
68. Labor cost
per unit of real
gross domestic
product, nonfinancial
corporations
62. Index of
labor cost per
unit of output,
manufacturing
64. Compensation of employees as a percent
of national
income
(1977 = 100)
(Dollars)
(1967 = 100)
(Percent)
1980
January
February
March
April
May
June
July
August
September
October
November
December
!:!
5*6
96 '.7
272*5
149.* 7
127*.6
1.168
183.7
186.2
188.2
74*8
5*3
4." 4
96 '.6
247.' 5
132*6
132 '.3
1.208
191.7
196.6
201.0
76*6
!:!
4*6
96.4
262*8
137*8
134 '.7
1.224
203.1
203.7
202.2
75*6
s'.i
4*.8
97*6
269*7
""
137*6
1.245
201.1
200.9
201.1
75*6
0)98* 2
[H)279.'6
H>14i.*2
139*0
1.267
202.6
203.6
204.4
74*9
1981
January
February
March
^
April
May
June
6."6
4.*9
97*. 9
267.7
132 ."6
14L5
1.289
206.1
207.4
208.9
75*3
July
August
September
Be'.i
4*8
98*1
276 '.5
133*9
144 '.2
1.315
208.9
209.9
212.6
74 '.9
October
November
December
5*9
4.' 3
97 '.7
277*5
131*8
147*. 9
1.349
216.6
219.9
222.5
75*4
^
150.9
1.376
227.9
226.0
225.8
0)76.4
[H>pl53".0
Drl.388
228.0
r230.7
EX231.5
76*3
»»
1982
January
February
March
r5.7
4."6
96*. 7
r254.*9
April
May
June
r5.6
p3.6
p96*.4
r263*5
July
August
September
r231.0
p231.2
October
November
December
See note on page 60.
Graphs of these series are shown on pages 15, 29, and 30.
X
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
70
SEPTEMBER 1982
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Qj MONEY AND CREDIT
Minor Economic
Process
Timing Class
Money
L, L, L
85. Change in
money supply
Year
and
month
/Ml ^\
(Mi)
L, L, L
L, C, U
102. Change
in money
cnnnlw
supply (M7\
(n\£.)
(Percent)
(Percent)
L, L, L
104. Change in total liquid assets
Smoothed
data 1
Monthly
data
(Percent)
Credit Flows
Velocity of Money
(Percent)
105. Money
supply (Ml)
in
Q 7 ')
in 1iy/£
dollars
106. Money
supply (M2)
in 1972
dollars
C, Lg, C
L, L, L
108. Ratio,
personal income
to money supply
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bit. dol.)
C, C, C
L, L, L
107. Ratio,
gross national
product to
money supply
(M2)
(Ml)
(Bil. dol.)
(Bil. dol.)
(Ratio)
(Ratio)
Revised2
1980
January
February
March
April
May
June
0.75
0.82
0.00
0.65
0.86
0.52
0.87
1.00
0.75
0.47
0.64
209.9
0.81
-1.32
-0.23
-0.28
0.44
0.83
0.50
1 24
0.*68
1.21
July
August
September
1.09
1.78
1.'38
October
November
December
1.17
0.48
-0.72
1.352
1.354
qc
yD .on
ju
67.63
79.57
6.583
1.357
1.353
1.346
54.13
23.42
14.26
6 . CO/I
DoH-
i "q?Q
206 '.2
818.6
815*.6
808.9
6.538
0.80
0.70
0.63
201.6
199.3
199.7
799.3
798.2
800.1
0.83
1.22
0.57
0,66
0.78
0.86
201 . 7
203 9
204.7
pi r\ o
OlU. c.
0.68
0.96
0.01
0.69
1.15
0.76
0.85
0.82
0.84
0.57
0.75
1.13
0.87
0.82
O . Q7
yi
0.82
1.23
1.34
814 , 6
QIO
O
LC. . n
U
AO
*}Rfi
co QO
DC . yc.
nn
c
. UO
1.364
1.365
1.378
0)82.61
73.37
65.39
1
808.8
807.7
800.0
6.588
798.4
JQC 0
/ _>o . o
803.1
C011
D . Ol 1
0.93
200.3
i qq
i
yy i, i
200.4
0)204.9
203.6
200.2
1 C
M-o. ID
1981
January
February
March
0.82
0.36
1.19
0.94
1.386
55.58
fifl .ZL9
DU
t£
1.383
46.64
0)2.10
-0.95
-0.19
1.30
0.53
0.49
0.72
1.12
0.95
0.87
0.84
0.91
203.7
200.2
198.4
810.1
808.1
806.1
6.744
1.372
1.373
1.378
54.24
41.69
46.94
July
August
September
0.23
0.40
0.02
0.74
1.07
0.33
0.95
1.16
0.68
0.97
1.01
0.98
196.6
195.8
193.7
802.8
804.9
798.9
0)6.923
1.389
1.388
0)1.394
60.60
34.03
26.69
October
November
December
0.39
0.81
1.03
0.63
1.14
0.71
0.88
1.13
0.92
0.90
0.87
193.7
194.2
195.5
800.5
805.6
808.1
6.877
1.390
1.381
1.370
22.75
21.70
5.26
January
February
March
1.75
-0.29
0.22
1.02
0.36
0.93
rO.95
0.85
0.84
rO.82
198.3
197.3
198.3
814.1
815.0
824.9
6.685
rO.98
0.84
1.357
1.360
1.350
22.09
16.30
3.41
April
May
June
0.91
-0.20
-0.02
0.83
0.89
0.55
0.99
1.08
0.93
0.98
199.6
197.3
195.2
829.7
829.3
825.2
r6.740
1.348
rl.347
r 1.345
10.62
3.07
-11.70
r-0.02
pO.86
3
1.28
rO.81
pi. 19
r 194.1
p!95.2
r827.1
0)p834.6
1.348
pi. 336
p-4.96
(NA)
April
May
June
0.51
1982
July
August
September
reO.73
reO.98
el. 05
Del- 53
Del. 03
reO.94
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
^his series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
2
See "New Features and Changes for This Issue," page iii.
3
Average for weeks ended September 1, 8, and 15.
SEPTEMBER 1982
71
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
QH MONEY AND CREDIT-Continued
Minor Economic
Process
Timing Class
Year
and
month
Credit Difficulties
Credit Flows— Continued
L, L, L
112. Net change
in bank loans
to businesses
(Ann. rate,
bil. dol.)
L, L, L
113. Net
change in
consumer installment
credit
(Ann. rate,
bil. dol.)
L, L, L
14. Current
liabilities
of business
failures (u)
110. Total
private
borrowing
(Ann. rate,
mil. dol.)
Revised
1980
L, L, L
(Mil. dol.)
Bank Reserves
L, L, L
39. Delinquency
rate, 30 days
and over, consumer installment loans
(Percent)
L, U, U
Interest Rates
L, Lg, U
93. Free
reserves ®
94. Member
bank borrowing from the
Federal
Reserve (u)
(Mil. dol.)
(Mil. dol.)
L, Lg, Lg
119. Federal
funds rate (§)
(Percent)
C, Lg, Lg
114. Treasury
bill rate ©
(Percent)
1
38.88
31.93
8.28
31.62
28.44
7.85
378,360
243.15
190.79
274.24
2.37
2.32
2.53
-999
-1,465
-2,638
1,241
1,655
2,824
13.82
14.13
17.19
12.04
12.81
15.53
6.41
-35.40
11.84
-21.06
-31.76
-24.85
221,208
428.15
381.15
436.68
2.53
2.64
2.74
-2,261
-835
-169
2,455
1,018
380
17.61
10.98
9.47
14.00
9.15
7.00
July
August
September
5.46
20.65
26.00
-6.74
9.44
10.22
308,564
445.69
345.41
1,002.94
2.77
2.94
2.70
-111
-357
-1,055
395
659
1,311
9.03
9.61
10.87
8.13
9.26
10.32
October
November
December
25.90
43.91
22.69
4.82
7.40
16.19
363,568
359.24
(H)239.34
288.30
2.53
2.66
2.57
p-1,018
p-1,201
p-1,587
pi, 335
p2,156
pi, 617
12.81
15.85
18.90
11.58
13.89
15.66
6.31
-7.09
-18.96
14.47
22.14
35.65
320,608
341.36
789.20
485.34
2.42
2.51
2.53
-1,028
-1,023
-719
1,386
1,301
994
19.08
15.93
14.70
14.72
14.90
13.48
April
May
June
35.71
41.36
32.80
32.66
18.85
24. 37
!>392,646
536.88
428.20
408.54
2.40
2.40
2.30
-1,136
D -1,968
-1,700
1,338
0)2,220
2,039
15.72
18.52
[H>19.10
13.63
0)16.30
14.56
July
August
September
41.10
28.34
22.93
C 11:7
Q .AC.
D
tO
29.14
D35.70
318,116
450.41
752.34
2.22
2^35
2.28
-1,335
-U122
-1,035
1,679
M17
1,451
19.04
17 '.82
15.87
14.70
15 '.61
14.95
October
November
December
13.62
13.32
23.36
12.02
7.20
-0.40
247,540
2.37
2.42
2.37
-871
-348
-330
1,149
695
642
15.08
13.31
12.37
13.87
11.27
10.93
46.64
D58.09
9.40
5.32
0.90
11.88
269,836
2.48
2.39
2.24
r-1,101
r-1,414
r-1,254
rl,526
rl,713
rl,611
13.22
14.78
14.68
12.41
13.78
12.49
54.30
40.56
r40.92
14.10
16.79
16.19
p302,692
2.20
2.21
H>2.16
-1,307
-745
-895
1,581
1,105
1,205
14.94
14.45
14.15
12.82
12.15
12.11
r9.48
p4.92
26.15
6.84
(NA)
(NA)
r-378
p-285
3
-513
r669
p510
3
896
12.59
10.12
10.22
11.91
9.01
"8.29
January
February
March
April
May
June
1981
January
February
March . .
1 O C1
lo.
OJ,
(NA)
1982
January
February
March
April
May
June
July
August
September
2
3
October
November
December
See note on page 60.
Graphs of these series are shown on pages 32, 33, and 34.
*See "New Features
for weeks
Average for weeks
^Average for weeks
2
Average
3
and Changes for
ended September
ended September
ended September
72
This Issue," page iii.
1, 8, and 15.
1, 8, 15, and 22.
2, 9, 16, and 23.
SEPTEMBER 1982
ItO
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Ql MONEY AND CREDIT-Continued
Minor Economic
Process
Timing Class
Interest Rates-Continued
Outstanding Debt
Lg, Lg, Lg
C, Lg, Lg
U, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
116. Corporate
bond yields ©
115. Treasury
bond yields ®
117. Municipal
bond yields <g)
118. Secondary
market yields
on FHA
mortgages ®
67. Bank rates
on short-term
business loans
(Percent)
(Percent)
Year
and
month
(Percent)
(Percent)
(Percent)
®
Lg, Lg, Lg
Lg, Lg, Lg
109. Average
prime rate
charged by
banks ®
66. Consumer
installment
credit
(Percent)
(Mil. dol.)
Lg, Lg, Lg
Lg, Lg, Lg
72. Commercial
and industrial
loans outstanding, weekly
reporting large
commercial
banks
(Mil. dol.)
95. Ratio,
consumer installment credit
to personal
income
(Percent)
1980
January
February
March
11.65
13.23
14.08
10.03
11.55
11.87
7.35
8.16
9.17
12.60
(NA)
14.63
15.'o7
15.25
15.63
18.31
306,213
308,583
309,237
159,510
162,171
162,861
14.75
14.80
14.73
April
May
June
13.36
11.61
11.12
10.83
9.82
9.40
8.63
7.59
7.63
13.45
11.99
11.85
17.*75
19.77
16.57
12.63
307,482
304,835
302,764
163,395
160,445
161,432
14.66
14.46
14.26
July
August
September
11.48
12.31
12.74
9.83
10.53
10.94
8.13
8.67
8.94
12.39
13.54
14.26
ll!56
11.48
11.12
12.23
302,202
302,989
303,841
161,887
163,608
165,775
13.97
13.88
13.75
October
November .
December
13.17
14.10
14.38
11.20
11.83
11.89
9.11
9.56
10.20
14.38
14.47
14.08
is.'n
13.79
16.06
20.35
304,243
304,860
306,209
167,933
171,592
173,483
13.60
13.49
13.41
January
February . .
March . . .
14.01
14.60
14.49
11.65
12.23
12.15
9.68
10.10
10.16
14.23
14.79
15.04
19.91
20.16
19.43
18.05
307,415
309,260
312,231
174,009
173,418
171,838
13.32
13.27
13.28
April
May
June
15.00
15.68
14.97
12.62
12.96
12.39
10.62
10.78
10.67
15.91
16.33
16.31
19.99
17.15
19.61
20.03
314,953
316,524
318,555
174,814
178,261
180,994
13.32
13.30
13.28
July
August
September
15.67
16.34
|H)16.97
13.05
13.61
©14.14
11.14
12.26
12.92
16.76
17.96
1)18. 55
E>2i'.ii
20.39
E>20.50
20.08
320,106
322,534
325,509
184,419
186,781
188,692
13.14
13.11
13.13
October
November
December
16.96
15.53
15.55
14.13
12.68
12.88
12.83
11.89
12.91
17.43
15.98
16.43
17'.23
18.45
16.84
15.75
326,511
327,111
327,078
189,827
190,937
192,884
13.13
13.09
13.10
January
February
March .
16.34
16.35
15.72
13.73
13.63
12.98
D13.28
12.97
12.82
17.38
17.10
16.41
ly.'ia
15.75
16.56
16.50
327,521
327,596
328,586
196,771
201,612
202,395
13.11
13.03
13.05
April
May
June
15.62
15.37
15.96
12.84
12.67
13.32
12.59
11.95
12.45
16.31
16.19
16.73
i7*.ii
16.50
16.50
16.50
329,761
331,160
332,509
206,920
210,300
r213,709
rl3.01
r!2.96
r!2.96
15.75
14.64
l3.8l
12.97
12.15
Ml. 58
12.28
11.23
10.70
16.29
14.61
16.26
14.39
13.50
1)333,079
(NA)
r214,499
DP214,909
"217,088
p!2.85
(NA)
1981
1982
July
August
September
1
2
3
October
November
December
See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
1
Average
2
Average
3
for weeks ended
for weeks ended
Average for September 1
''Average for weeks ended
M Jl SEPTEMBER 1982
September 3, 10, 17, and 24.
September 2, 9, 16, and 23.
through 27.
September 1, 8, and 15.
73
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE
Q| DIFFUSION INDEXES
Year
and
month
950. Twelve leading
indicator components
(series 1, 5, 8, 12, 19,
20, 29, 32, 36, 92, 104,
952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109)
951. Four roughly
coincident indicator
components (series
41, 47, 51, 57)
961. Average workweek
of production workers,
manufacturing (20
industries)
106)
1-month
span
6-month
span
1-month
span
6-month
span
1-month
span
6-month
span
1-month
span
9-month
span
962. Initial claims for
State unemployment
insurance, week including the 12th1
(51 areas)
1-month
span
9-month
span
963. Number of employees on private
nonagricultural payrolls
(186 industries)
1-month
span
6-month
span
1980
0.0
100.0
0.0
0.0
0.0
66.7
33.3
33.3
41.7
50.0
33.3
57.5
22.5
22.5
12.5
10.0
15.0
33.3
70.6
100.0
100.0
41.7
33.3
33.3
33.3
33.3
50.0
22.5
87.5
85.0
37.5
75.0
95.0
62.7
84.3
13.7
58.8
23.5
96.1
35.2
64.0
61.0
44.1
100.0
100.0
100.0
50.0
50.0
66.7
50.0
50.0
50.0
57.5
80.0
72.5
87.5
85.0
97.5
76.5
96.1
96.1
88.2
88.2
62.6
59.4
54.6
64.0
100.0
100.0
100.0
100.0
50.0
66.7
50.0
90.0
75.0
33.3
41.7
41.7
60.0
95.0
87.5
77.5
86.3
39.2
31.4
76.5
81.4
70.6
56.7
48.7
51.1
50.0
62.5
83.3
83.3
66.7
83.3
66.7
83.3
72.5
77.5
22.5
60.0
17.5
64.7
78.4
17.6
19.6
19.6
68.3
65.3
54.0
67.7
100.0
75.0
75.0
50.0
75.0
25.0
37.5
50.0
25.0
12.5
75.0
66.7
83.3
83.3
66.7
66.7
35.0
35.0
15.0
15.0
12.5
r68.6
17.6
59.9
50.3
50.3
51.3
33.9
0.0
0.0
0.0
75.0
66.7
66.7
66.7
50.0
33.3
62.5
20.0
30.0
34.7
28.2
31.2
30.1
27.7
24.2
0.0
58.3
33.3
50.0
33.3
33.3
50.0
95.0
12.5
r42.5
r32.5
42.5
75.0
P30.0
16.7
April
May
June
12.5
33.3
50.0
16.7
45.8
41.7
July
August
September
83.3
83.3
91.7
100.0
25.0
75.0
91.7
100.0
October
November
December
62.5
70.8
50.0
75.0
66.7
75.0
100.0
January
February
March
16.7
33.3
70.8
75.0
58.3
58.3
April
May
June
75.0
16.7
41.7
45.8
50.0
25.0
July
August
September
25.0
50.0
16.7
25.0
October
November
December
25.0
41.7
25.0
8.3
75.0
53.8
48.9
49.2
50.0
58.3
33.3
41.7
29.2
33.3
25.0
0.0
0.0
0.0
25.0
87.5
100.0
25.0
50.0
7.5
10.0
15.0
2.0
2.0
9.8
41.7
66.7
50.0
70.0
0.0
0.0
January
February
March
0.0
0.0
23.5
60.8
46.1
3.9
5.9
19.6
3.9
7.8
39.8
34.1
29.3
29.0
32.8
29.6
23.1
26.6
28.8
35.8
59.1
71.2
61.0
1981
8.3
8.3
2
2
9.1
9.1
0.0
0.0
0.0
75.0
2
18.2
2
36.4
36.4
68.2
r37.5
50.0
50.0
81.8
50.0
25.0
75.0
50.0
M6.7
7.5
5.0
5.0
7.5
5.0
5.0
58.8
9.8
61.8
49.0
22.5
5.9
9.8
27.5
11.8
5.9
7; 8
64.8
65.9
67.2
67.2
67.5
39.0
1982
January
February
March
April
May
June
July
August
September
2
2
2
31.8
45.5
45.5
2
2
2
2
2
3
63.6
63.6
2
r40.9
2
3
63.6
50.0
0.0
87.5
58.3
41.7
66.7
0.0
37.5
M6.7
5
50.0
50.0
5
50.0
50.0
5.0
12.5
96.1
24.5
5.9
60.8
68.6
11.8
r31.4
p43.1
(NA)
32.5
42.5
35.8
r27.4
40.9
51.1
p32.8
21.8
27.4
r31.2
r72.5
r!9.6
r32.0
r55.0
p!7.5
p67.6
r45.2
p44.6
(NA)
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on the 2d month, 6month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter.
Series are seasonally adjusted except for those, indicated by(u), that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on page 36.
figures are the percent of components declining.
2
Excludes series 12, for which data are not available. See "New Features and Changes for This Issue" on page iv of the July 1982 issue.
3
Excludes series 12 and 36, for which data are not available.
"•Excludes series 57, for which data are not available.
5
Excludes series 70 and 95, for which data are not available.
74
SEPTEMBER
1982
CYCLICAL INDICATORS
C
1 DIFFUSION INDEXES AND RATES OF CHANGE—Continued
QH DIFFUSION INDEXES-Continued
Year
and
month
964. Value of manufacturers' new orders,
durable goods industries (34 industries)
965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)
1-month
span
9-month
span
1-quarter
span
January
February
March
70.6
45.6
41.2
23.5
29.4
32.4
65
April
May
June
19.1
38.2
50.0
47.1
63.2
44.1
18
July
August
September
76.5
50.0
82.4
45.6
64.7
73.5
27
October
November
December
70.6
60.3
55.9
85.3
85.3
79.4
53
January
February . . . . . . . .
March
41.2
52.9
58.8
88.2
73.5
70.6
56
April
May
June
64.7
52.9
50.0
50.0
47.1
35.3
53
July
August
September
47.1
26.5
47.1
32.4
20.6
20.6
33
October
November
December
26.5
58.8
32.4
29.4
20.6
14.7
30
47.1
50.0
35.3
r23.5
48
48.5
67.6
p23.5
4-Q moving
average
966. Index of industrial
production (24
industries)
1-month
span
6-month
span
967. Index of spot
market prices, raw
industrials (u)
(13 industrial materials)
1-month
span
9-month
span
960. Net profits,
manufacturing 2 ®
(about 600 companies)
968. Index of stock
prices, 500 common
stocks 1 <u)
1-month
span
9-month
span
(4-quarter span)
1980
'ii
70.8
20.8
41.7
25.0
16.7
12.5
50.0
73.1
61.5
'ii
16.7
16.7
14.6
16.7
12.5
16.7
11.5
15.4
'39
39.6
70.8
66.7
37.5
70.8
87.5
'is
79.2
91.7
66.7
3
3
58.3
50.0
74.1
52.8
53.8
3.8
39.6
47.2
77.4
*56
50.0
46.2
46.2
26.4
92.5
89.6
90.6
94.3
86.8
56
53.8
76.9
57.7
46.2
42.3
38.5
92.5
88.7
76.4
84.9
96.2
94.3
60
95.8
95.8
95.8
65.4
53.8
46.2
61.5
65.4
65.4
43.4
55.7
15.1
90.6
88.7
86.8
'ei
"49
83.3
62.5
45.8
79.2
70.8
58.3
30.8
30.8
65.4
38.5
38.5
46.2
66.0
42.5
85.8
79.2
67.3
59.6
'60
"43
56.2
62.5
45.8
54.2
58.3
45.8
69.2
26.9
38.5
46.2
46.2
53.8
81.1
30.2
67.3
59.6
44.2
42.3
*59
'ii
87.5
52.1
12.5
31.3
20.8
16.7
61.5
61.5
42.3
61.5
42.3
23.1
19.2
40.4
46.2
32.7
38.5
26.9
46.2
23.1
23.1
15.4
58.7
65.4
67.3
14.4
10.6
34.6
42.3
34.6
38.5
15.4
30.8
26.9
10.6
34.6
28.8
34.6
42.3
38.5
30.8
34.6
23.1
26.9
88.5
54.8
11.5
18.0
"19.2
0.0
1981
20.8
8.3
p36
8.3
8.3
20.8
10.4
33.3
75.0
31.3
12.5
0.0
p49
9.6
(NA)
1982
January
February
March
April
May
June
July
August
September
20.6
41.2
p33
20.8
r35.3
r41.7
r41.7
rSO.O
p32.4
r62.5
p41.7
0.0
r29.2
r50.0
p29.2
61.5
53.8
52.9
26.5
"69.2
October
November
December
See note on page 74.
Graphs of these series are shown on page 37.
x
Based on 54 industries for January 1980, on 53 industries through May 1981, and on 52 industries thereafter.
tries are not shown in table C2 but are available from the source.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun
3
Based on 12 components (excluding rosin) .
** Based on average for September 7, 14, and 21.
SEPTEMBER
1982
Data for component indus§ Bradstreet, Inc.
75
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Qj DIFFUSION INDEXES-Continued
Year
and
quarter
970. Business expenditures for new plant and
equipment (22 industries)
971. New orders, manufacturing l ®
a. Actual
expenditures
Actual
(1-Q span)
b. Later
anticipations
c. Early
anticipations
(1-Q span)
(1-Q span)
86.4
52.3
63.6
68.2
63.6
50.0
68.2
63.6
47.7
68.2
Anticipated
Actual
Anticipated
(4-Q span)
(4-Q span)
973. Net sales, manufacturing
and trade ' ©
972. Net profits, manufacturing
and trade ' ®
(4-Q span)
(4-Q span)
(4-Q span)
Anticipated
Actual
(4-Q span)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
88.6
77.3
85
81
73
78
80
84
80
72
78
74
70
72
78
82
80
70
87
84
82
82
85
88
84
78
74
63
60
60
66
75
57
62
62
54
57
56
66
•73
59
61
73
62
68
66
72
80
63
67
68
70
62
62
74
74
76
76
60
66
60
60
70
69
74
72
70
74
71
68
78
76
80
80
52
60
68
64
53
61
66
66
63
65
70
72
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
77.3
54.5
81.8
59.1
50.0
45.5
59.1
36.4
54.5
40.9
81.8
77.3
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
72.7
72.7
70.5
63.6
40.9
68.2
72.7
54.5
59.1
68.2
36.4
77.3
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
54.5
59.1
59.1
22.7
27.3
34.1
(NA)
59.1
65.9
59.1
(NA)
(NA)
Q| DIFFUSION INDEXES-Continued
Year
and
quarter
974. Number of employees,
manufacturing and trade ' (u)
Anticipated
Actual
(4-Q span)
(4-Q span)
975. Level of inventories,
manufacturing and trade ' (u)
Anticipated
Actual
(4-Q span)
(4-Q span)
976.- Selling prices, manufacturing l ©
Anticipated
Actual
(4-Q span)
(4-Q span)
977. Selling prices, wholesale
trade > (u)
978. Selling prices, retail
trade ' <g)
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
62
60
60
58
60
60
58
56
80
76
73
75
70
74
71
68
92
93
92
94
86
88
88
86
96
95
95
96
88
90
92
90
94
95
94
96
90
92
92
90
58
54
53
51
54
56
48
50
67
61
64
60
62
70
53
56
90
88
90
90
87
90
83
86
92
90
92
90
90
92
87
88
92
91
94
90
90
93
84
90
51
53
52
52
56
54
56
55
62
64
62
63
63
61
66
64
88
86
84
82
88
90
89
84
90
88
84
82
90
89
89
84
94
90
86
86
90
90
92
87
48
50
51
51
58
54
56
56
72
80
76
68
72
82
78
72
78
82
81
76
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
(NA)
(NA)
(NA)
(NA)
(NA)
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed at the end of the span. Series are seasonally adjusted except for those,
indicated by®, that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 38.
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun § Bradstreet, Inc. Dun &
Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
76
SEPTEMBER 1982
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
IH SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
Diffusion index components
1982
January
May
April
March
February
July r
June
August P
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING >
(Average weekly hours)
All manufacturing industries
37.6
Percent rising of 20 components
+
(5)
39.4
39.0
(95)
(12)
o
39.0
+
(42)
39.1
+
(75)
39.2
+
(72)
39.3
39.0
(55)
(18)
38.0
37.6
Durable goods industries:
Lumber and wood products
Furniture and fixtures
35.0
33.6
+
+
37.9
37.7
37.6
37.3
o
+
37.6
37.4
+
+
38.5
37.5
+
+
r38.7
37.8
o
38.4
37.8
Stone, clay, and glass products
Primary metal industries
38.6
38.3
+
+
40.1
39.4
40.0
38.8
o
40.0
38.5
+
o
40.2
38.5
+
+
40.4
38.9
+
o
40.6
38.9
Fabricated metal products
Machinery, except electrical . . :
38.1
39.3
+
+
39.7
40.7
39.5
40.2
39.4
40.1
+
39.5
39.8
39.4
+
+
39.5
39.9
39.2
39.6
Electric and electronic equipment
Transportation equipment
38.3
39.0
+
+
39.8
40.5
39.4
40.4
39.3
41.1
+
o
39.4
41.1
+
+
+
39.8
41.0
39.4
40.9
Instruments and related products
Miscellaneous manufacturing
39.0
37.3
+
+
39.9
38.6
39.9
38.5
+
+
40.2
38.7
o
40.1
38.7
40.0
38.6
Food and kindred products
Tobacco manufacturers
39.1
36.1
+
+
40.2
38.3
39.5
37.3
39.4
36.6
o
+
39.4
37.2
+
+
Textile mill products
Apparel and other textile products
32.3
31.4
+
+
38.3
35.5
37.6
35.0
+
37.7
34.7
+
+
37.9
34.8
+
35.1
o
+
37.8
35.2
Paper and allied products
Printing and publishing
41.3
36.9
+
+
42.3
37.4
41.8
37.1
+
o
42.1
37.1
41.8
36.8
+
+
42.0
+
r37.1
42.1
37.0
41.0
44.3
+
41.2
43.5
o
40.7
43.5
o
+
40.7
44.0
+
+
41.0
44.1
o
o
r41.0
r44.1
40.9
43.3
37.9
34.1
+
+
40.0
35.6
39.6
35.8
+
+
39.8
35.6
+
o
39.9
35.6
+
+
r35.7
o
+
-
r74,550
+
o
o
39.9
38.6
+
o
r39.6
39.5
41.6
40.2
r38.6
+
39.5
+
+
40.5
39.2
Nondurable goods industries:
Chemicals and allied products
Petroleum and coal products
+
Rubber and miscellaneous plastics products
Leather and leather products
r38.4
r37.8
40.1
39.9
37.4
+
o
39.4
38.8
37.8
35.1
41.6
36.7
+
40.1
35.9
40.5
44.3
39.6
35.7
964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES l 2
(Millions of dollars)
All durable goods industries
75,061
(47)
Percent rising of 34 components
+
Primary metals
Fabricated metal products
+
76,309
+
77,859
-
(35)
(50)
r76,194
-
r75,710
(35)
(68)
(48)
76,446
-
73,425
(50)
(32)
8,095
9,210
9,163
8,777
8,241
9,052
+
-
8,137
88,988
+
+
8,453
9,405
8,617
9,389
+
+
7,596
9,819
+
+
8,660
9,368
14,408
11,888
-
13,015
11,705
+
12,876
12,396
+
-
13,793
11,708
16,011 +
r!5,545 -
16,347
r!5,477
+
+
17,515
15,631
-
15,575
15,044
Machinery, except electrical
Electrical machinery
15,120
11,842
-
14,506
11,391
+
14,438
12,782
+
+
15,264
12,508
-
Transportation equipment
Other durable goods industries
+
-
15,182
14,977
+
+
17,305
15,814
+
17,138
16,086
-
16,594
r!4,703
+
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and (-) = falling.
The "r" indicates revised; "p",
preliminary; and "NA", not available.
*Data are seasonally adjusted by the source agency.
2
Data for most of the diffusion index components are not available for publication, but they are included in the totals and directions of
change for the six major industry groups shown here.
SEPTEMBER
1982
77
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
IQ SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1982
January
February
March
Mayr
April
Juner
Julyr
August p
966. INDEX OF INDUSTRIAL PRODUCTION '
(1967 = 100)
All industrial production
Percent rising of 24 components
....
140.7
2
+
(33)
142.9
141.7
140.2
139.2
138.5
(75)
(31)
(21)
(42)
(42)
+
138.7
138.0
(62)
(42)
Durable manufactures:
Lumber and products
Furniture and fixtures
99.2
144.3
+
+
104.9
148.4
128.5
89.7
+
.135.0
88.5
131.5
83.0
Fabricated metal products
Nonelectrical machinery
120.7
160.9
+
121.4
160.0
121.1
157.3
Electrical machinery
Transportation equipment
168.2
96.6
+
+
172.9
102.0
+
172.6
104.4
Instruments
Miscellaneous manufactures
162.2
144.9
+
164.5
144.5
+
163.0
145.3
162.8
144.6
151.1
112.7
+
+
151.7
126.7
o
150.8
126.7
149.7
116.1
120.0
(NA)
+
125.8
(NA)
148.3
145.6
+
+
151.5
146.4
Chemicals and products
Petroleum products
196.7
123.3
+
201.3
119.5
Rubber and plastics products
Leather and products
244.7
63.1
+
+
251.8
64.0
Clay, glass, and stone products
Primary metals
+
+
103.5
150.2
+
+
+
106.2
151.8
+
110.6
151.1
+
111.7
149.9
+
+
113.0
152.2
(NA)
(NA)
127.0
125.0
+
125.7
75.2
72.6
+
+
126.5
76.4
(NA)
71.3
119.1
153.7
115.8
150.0
115.4
146.8
+
116.1
145.5
-
115.1
144.2
172.2
105.9
72.8
170.9
110.0
+
+
171.3
111.6
+
+
171.7
113.1
-
170.7
108.3
+
163.8
141.7
+
164.6
139.2
+
165.2
138.1
+
165.1
139.0
+
+
150.5
118.6
+
+
151.0
123.6
+
Nondurable manufactures:
Foods
Tobacco products
+
Textile mill products
Apparel products
Paper and products
Printing and publishing
+
+
+
+
+
+
126.3
(NA)
(NA)
(NA)
(NA)
123.5
123.0
(NA)
(NA)
(NA)
150.6
145.9
149.8
144.2
146.5
143.8
145.6
141.2
+
144.3
141.9
+
+
147.0
142.2
200.3
121.3
198.6
120.8
193.2
125.9
+
192.4
128.0
-
121.2
+
258.0
' 64.2
126.0
(NA)
253.4
61.2
+
+
255.1 +
60.6
+
193.6
122.2
257.0
61.1
+
+
+
+
124.3
(NA)
(NA)
(NA)
259.0
62.3
(NA)
(NA)
(NA)
Mining:
Metal mining
Coal
+
+
121.3
147.9
+
120.8
156.0
Oil and gas extraction
Stone and earth minerals
+
+
151.5
115.8
+
146.6
120.5
+
109.9
155.6
108.8
146.2
141.4
121.6
137.7
119.6
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:
preliminary; and "NA", not available.
+
90.0
71.4
56.2
149.2
144.4
140.3
+
144.1
132.7
114.6
129.2
109.4
126.6
111.0
-
123.7
( + ) = rising, (o) = unchanged, and (-)
+
= falling.
(NA)
(NA)
The "r" indicates revised; "p"
x
Data are seasonally adjusted by the source agency.
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
2
78
SEPTEMBER 1982
110
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Qj SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1982
January
February
March
May
Apri 1
967. INDEX OF SPOT MARKET PRICES, RAW INDUSTRIALS
Raw industrials price index (1967 = 100) . . . .
-
263.4
-
(42)
Percent rising of 13 components
261.0
254.5
(35)
(38)
-
247.4
-
June
August
September 1
2
245.5
-
232.2
+
(23)
(35)
(31)
July
237.0
-
(62)
236.2
+
239.7
(69)
(54)
Dollars
Copper scrap
(pound) . .
(kilogram) . .
-
0.572
1.261
-
0.565
1.246
-
0.530
1.168
+
0.534
1.177
-
0.530
1.168
-
0.427
0.941
+
0.465
1.025
-
0.461 +
1.016
0.485
1.069
Lead scrap
(pound) .
(kilogram) . .
-
0.168
0.370
+
0.175
0.386
-
0.160
0.353
-
0.152
0.335
-
0.150
0.331
-
0.142
0.313
+
0.146
0.322
+
0.166
0.366
-
0.165
0.364
Steel scrap
(U.S. ton) . .
(metric ton) . .
+
88.000
97.002
-
83.750
92.318
-
74.600
82.232
-
72.750
80.192
-
70.000
77.161
-
57.800
63.713
+
59.000
65.036
+
59.200
65.256
+
60.000
66.138
Tin
(pound) .
(kilogram) . .
+
7.200
15.873
+
7.280
16.049
-
6.080
13.404
-
5.830
12.853
+
5.842
12.879
-
5.284
11.649
-
5.280
11.640
+
5.714
12.597
+
5.877
12.956
Zinc
(pound).,
(kilogram) . .
-
0.433
0.955
+
0.436
0.961
-
0.402
0.886
-
0.362
0.798
o
0.362
0.798
+
0.368
0.811
+
0.388
0.855
+
0.399
0.880
+
0.418
0.922
(yard). .
(meter) . .
+
0.233
0.255
o
0.233
0.255
+
0.235
0.257
+
0.244
0.267
-
0.242
0.265
-
0.238
0.260
-
0.236
0.258
+
0.241
0.264
+
.
0.251
0.274
+
0.577
1.272
-
0.571 +
1.259
0.598
1.318
+
0.618
1.362
+
0.625
1.378
-
0.613
1.351
+
0.659
1.453
-
0.615
1.356
-
0.586
1.292
Burlap
Cotton
(pound) . .
(kilogram) . .
Print cloth
(yard)
(meter) . .
-
0.710
0.776
-
0.700
0.766
-
0.693
0.758
-
0.650
0.711
-
0.630
0.689
-
0.626
0.685
-
0.588
0.643
-
0.546
0.597
+
0.553
0.605
Wool tops
(pound) .
(kilogram) . .
-
3.580
7.892
-
3.520
7.760
-
3.460
7.628
-
3.412
7.522
-
3.400
7.496
o
3.400
7.496
o
3.400
7.496
o
3.400
7.496
o
3.400
7.496
Hides
(pound) . .
(kilogram)..
+
0.590
1.301
o
0.590
1.301
-
0.584
1.287
-
0.545
1.202
+
0.558
1.230
-
0.526
1.160
+
0.541 +
1.193
0.544
1.199
+
0.545
1.202
Rosin
(100 pounds)
(100 kilograms) . .
o
47.000
103.616
o
47.000
103.616
+
53.500
117.946
-
49.000
108.025
-
47.000
103.616
o
47.000
103.616
o
47.000
103.616
47.000
103.616
o
47.000
103.616
(pound) . .
(kilogram) . .
-
0.483
1.065
-
0.470
1.036
+
0.471
1.038
-
0.460
1.014
-
0.458
1.010
+
0.463
1.021
+
0.468
1.032
0.464
1.023
-
0.450
0.992
(pound)
(kilogram). .
-
0.167
0.368
-
0.161
0.355
+
0.171
0.377
+
0.177
0.390
+
0.182
0.401
-
0.176
0.388
-
0.168
0.370
0.150
0.331
+
0.160
0.353
Rubber
Tallow .
.
o
-
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and (-) = falling.
The "r" indicates revised; "p"
preliminary; and "NA", not available.
1
Average for September 7, 14, and 21.
2
Data are not seasonally adjusted. These series are based on copyrighted data used by permission; they may not be reproduced without
written permission from Commodity Research Bureau, Inc. Components are converted to metric units by the Bureau of Economic Analysis.
SEPTEMBER
1982
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
M| GNP AND PERSONAL INCOME
Year
and
quarter
b. Difference
a. Total
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
217. Per capita
GNP in1972
dollars
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
c. Percent
change at
annual rate
b. Difference
a. Total
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
c. Percent
change at
annual rate
(Ann. rate,
dollars)
213. Final sales
in 1972 dollars
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
2,335.5
2,377.9
2,454.8
2,502.9
53.9
42.4
76.9
48.1
2,575.9
2,573.4
2,643.7
2,739.4
73.0
-2.5
70.3
95.7
12.2
-0.4
11.4
15.3
1,494.9
1,457.8
1,463.8
1,479.4
5.6
-37.1
6.0
2,864.9
2,901.8
2,980.9
3,003.2
125.5
19.6
1,507.8
1,502.2
1,510.4
1,490.1
28.4
-5.6
-1.5
8.2
-20.3
1,472.6
1,469.2
1,486.6
1,489.3
9.8
7.5
13.6
8.1
4.2
1.1
-3.4
17.4
6,570
6,537
6,595
6,586
1,459.7
1,455.4
1,481.9
1,491.6
6,593
6,413
6,421
6,472
1,497.5
1,460.3
1,472.3
1,485.7
-5.3
6,583
6,544
6,563
6,458
1,505.4
1,490.1
1,493.9
1,485.3
-5.1
r2.1
6,360
r6,380
1,486.1
rl,482.7
-0.9
4.8
0.7
2.7
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1.5
-9.6
1.6
4.3
15.6
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
36.9
79.1
22.3
5.3
11.4
3.0
7.9
2.2
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
2,995.5
r3,045.2
-7.7
r49.7
1,470.7
rl,478.4
-1.0
r6.8
-19.4
r7.7
•H PERSONAL CONSUMPTION EXPENDITURES
j^ GNP AND PERSONAL INCOME-Continued
Year
and
quarter
Disposable personal income
224. Current dollars
(Ann. rate,
bil. dol.)
225. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
230. Total in current
dollars
231. Total in 1972
dollars
232. Durable goods
in current dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1,587.5
1,624.0
1,674.3
1,714.9
1,011.1
1,011.7
1,019.8
1,020.1
4,511
4,502
4,524
4,511
1,446.3
1,476.0
1,528.3
1,578.0
921.2
919.5
930.9
938.6
211.1
208.7
217.3
216.6
148.6
144.9
149.1
146.3
1,766.9
1,781.0
1,845.5
1,902.9
1,022.8
1,005.5
1,018.2
1,025.7
4,511
4,423
4,466
4,487
1,618.7
1,622.2
1,682.0
1,745.8
937.0
915.8
928.0
941.0
220.8
199.0
212.7
224.7
145.4
128.9
134.6
139.5
1,958.7
1,996.5
2,060.0
2,101.4
1,035.0
1,036.6
1,048.8
1,051.9
4,519
4,516
4,557
4,559
1,799.9
1,819.4
1,868.8
1,884.5
951.1
944.6
951.4
943.4
236.9
230.4
241.2
229.6
145.3
138.6
142.2
134.1
2,117.1
r2,151.5
1,046.9
rl,054.8
4,527
r4,552
1,919.4
rl,947.8
949.1
r955.0
237.9
r240.7
137.5
r!38.3
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
NOTE: Series are seasonally adjusted except for those, indicated by (u), that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order.
Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 40 and 41.
SEPTEMBER 1982
OTHER IMPORTANT ECONOMIC MEASURES
A I
NATIONAL INCOME AND PRODUCT—Continued
HH PERSONAL CONSUMPTION EXPENDITURES-Continued
Year
and
quarter
236. Nondurable
goods in current
dollars
(Ann. rate,
bil. dot.)
238. Nondurable
goods in 1972
dollars
(Ann. rate,
bil. dol.)
237. Services in
current dollars
(Ann. rate,
bil. dol.)
JH GROSS PRIVATE DOMESTIC INVESTMENT
239. Services in
1972 dollars
(Ann. rate,
bil. dol.)
240. Total in
current dollars
(Ann. rate,
bil. dol.)
241. Total in
1972 dollars
(Ann. rate,
bil. dol.)
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
569.3
586.0
609.3
635.5
349.9
349.2
353.4
359.8
666.0
681.3
701.7
725.9
422.8
425.4
428.5
432.6
415.1
428 ! 3
431.9
416.8
241.5
24L3
237.2
225.3
393.5
401^9
420.2
419.4
228.6
227!e
232.4
227.6
650.6
656.7
673.7
700.5
357.8
352.7
353.7
359.0
747.3
766.6
795.6
820.6
433.9
434.3
439.7
442.5
424.0
391.0
384.1
410.3
222.7
201.9
199.2
209.6
424.6
391.4
405.3
428.0
225.3
204.4
207.8
215.9
720.6
729.6
741.3
746.5
361.6
361.7
363.0
363.1
842.4
859.4
886.3
908.3
444.2
444.3
446.2
446.2
455.7
475.5
486.0
468.9
221.6
229.5
233.4
218.9
443.5
450.9
454.2
455.7
219.2
217.4
216.9
214.1
749.1
755.0
362.2
r364.5
932.4
r952.1
449.5
r452.2
414.8
r431.5
195.4
r2Q2.3
450.4
r447.*7
210.8
r206.7
266. State and
local government
in current dollars
267. State and
local government
in 1972 dollars
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
D
Year
rear
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)
HH GOVERNMENT PURCHASES OF GOODS AND SERVICES
260. Total in
current dollars
(Ann. rate,
bil. dol.)
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-2.3
456.9
464.5
478.5
497.6
276.4
276.8
278.8
281.2
164.4
163.2
168.0
177.8
102.2
101.0
101.9
103.4
292.5
301.2
310.5
319.8
174.2
175.9
176.8
177.8
-0.7
-0.4
-21.2
-17.7
-2.6
-2.5
-8.5
-6.2
519.2
536.0
538.5
559.8
284.7
286.9
283.4
283.2
189.6
198.8
193.3
207.0
106.4
109.1
105.5
104.8
329.6
337.2
345.2
352.8
178.3
177.8
177.9
178.4
12.2
24.6
31.8
13.2
12.1
16.5
4.8
578.1
583.2
600.2
626.3
286.8
283.9
286.4
291.3
217.0
218.2
230.0
250.5
107.9
107.0
110.7
116.0
361.1
365.0
370.1
375.7
179.0
176.9
175.7
175.3
-15.4
r-4.4
630.1
r630.9
289.2
r285.3
249.7
r244.3
114.4
rllO.3
380.4
r386.6
174.9
r!75.0
21.5
26.4
11.8
-2.6
12.9
13.7
4.8
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
2.4
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-35.6
r-16.2
See note on page 80.
Graphs of these series are shown on pages 41, 42, and 43.
SEPTEMBER
1982
81
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
D
Q| FOREIGN TRADE
Year
and
quarter
255. Constant
(1972) dollars
250. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
280. Compensation of
employees
257. Constant
(1972) dollars
253. Current
dollars
256. Constant
(1972) dollars
252. Current
dollars
220. National income in current
dollars
Imports of goods and services
Exports of goods and services
Net exports of goods and services
NATIONAL INCOME
AND ITS COMPONENTS
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
16.1
10.5
33.4
31.5
39.8
44.2
256.1
268.2
290.6
310.5
138.8
140.4
149.2
156.4
238.9
259.1
274.5
300.0
105.4
109.0
109.4
112.2
1,907.4
1,941.3
1,993.6
2,024.5
1,406.5
1,434.9
1,477.6
1,513.6
14.0
24.2
39.0
23.5
50.5
53.2
53.1
45.6
335.7
337.3
337.2
346.7
164.4
161.2
155.9
155.1
321.7
313.1
298.2
323.2
113.9
108.0
102.8
109.6
2,079.7
2,067.2
2,122.3
2,199.2
1,555.2
1,571.7
1,604.9
1,662.8
31.2
23.7
25.9
23.5
48.2
44.2
39.2
36.5
365.4
368.9
367.2
367.9
159.3
159.7
157.8
156.9
334.2
345.1
341.3
344.4
111.1
115.5
118.7
120.4
2,293.7
2,324.4
2,387.3
2,404.5
1,718.0
1,750.0
1,789.1
1,813.4
31.3
36.9
35.7
359.9
r365.8
151.7
r!54.4
328.6
r330.9
114.7
rl!8.7
2,396.9
r2,425.2
1,830.8
rl,850.7
17.2
9.1
1980
First quarter .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
r34.9
Qj NATIONAL INCOME AND ITS COMPONENTS-Continued
Year
and
quarter
:
282. Proprietors'
income with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil. dol.)
286. Corporate
profits with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
Q SAVING
288. Net interest
(Ann. rate,
bil. dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil. dol.)
295. Business
saving
(Ann. rate,
bil. dol.)
292. Personal
saving
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
128.9
134.1
133.3
132.2
28.2
27.0
27.2
29.2
201.3
197.2
197.5
183.1
142.5
148.1
158.1
166.4
423.1
432.2
431.4
404.4
301.6
308.0
318.7
313.9
122.7
108.9
115.5
118.0
30.8
32.7
33.8
34.2
195.3
172.2
177.8
181.2
175.7
181.6
190.4
203.0
410.8
395.8
404.4
414.0
322.3
330.2
335.5
340.3
108.6
113.1
105.3
123.4
123.8
127.5
124.1
34.4
34.0
33.6
33.6
200.3
185.1
193.1
183.9
217.6
231.6
244.0
249.5
461.4
482.4
490.0
476.3
362.7
367.0
379.1
389.1
105.9
122.0
134.4
158.6
116.4
rl!7.3
33.9
34.2
157.1
r!55.4
258.7
r267.5
428.8
r441.5
r380.3
r384.6
139.1
r!44.3
98.0
102.8
98.6
87.3
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
97.9
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 44, 45, and 46.
82
SEPTEMBER 1982
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
Q|| SHARES OF GNP AND NATIONAL INCOME
Q| SAVING-Continued
Year
and
quarter
298. Government
surplus or deficit,
total
(Ann. rate,
bil. dot.)
293. Personal
saving rate
(percent of disposable personal
income)
Percent of gross national product
235. Personal consumption expenditures, total
249. Residential
fixed investment
(Percent)
(Percent)
(Percent)
(Percent)
248. Nonresidential
fixed investment
247. Change in
business inventories
251. Net exports of
goods and services
(Percent)
(Percent)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
0.9
1.1
0.5
2.1
6.2
6.3
5.9
5.1
61.9
62.1
62.3
63.0
11.9
11.9
12.2
12.1
5.0
5.0
5.0
4.7
-0.1
-10.6
-44.2
-45.9
-32.2
5.5
6.1
6.1
5.5
62.8
63.0
63.6
63.7
12.1
11.7
11.6
11.6
4.4
3.5
3.7
4.0
-0.8
-0.6
-8.3
-7.6
5.4
6.1
6.5
7.5
62.8
62.7
62.7
62.7
11.5
11.8
11.8
12.0
4.0
3.8
3.4
3.2
0.4
0.8
1.1
0.4
6.6
64.1
64.0
11.9
11.6
3.1
3.1
r-0.5
22.2
20.1
12.9
0.7
0.4
0.7
0.4
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
0.0
0.0
0.5
0.9
1.5
0.9
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-24.5
-72.5
1.1
0.8
0.9
0.8
1982
r-90.7
r-87.5
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
r6.7
1.0
-1.2
rl.l
Qj SHARES OF GNP AND NATIONAL INCOME-Continued
Year
and
quarter
Percent of GNP-Continued
265. Federal Government purchases of
goods and services
(Percent)
Percent of national income
268. State and local
government purchases
of goods and services
64. Compensation of
employees
(Percent)
(Percent)
283. Proprietors'
income with IVA
and CCAdj l
285. Rental income
of persons with
CCAdj l
(Percent)
(Percent)
(Percent)
(Percent)
289. Net interest
287. Corporate
profits with IVA
and CCAdj l
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
7.0
6.9
6.8
7.1
12.5
12.7
12.6
12.8
73.7
73.9
74.1
74.8
6.8
6.9
6.7
6.5
1.5
1.4
1.4
1.4
7.4
7.7
7.3
7.6
12.8
13.1
13.1
12.9
74.8
76.0
75.6
75.6
5.9
5.3
5.4
5.4
7.6
7.5
7.7
8.3
12.6
12.6
12.4
12.5
74.9
75.3
74.9
75.4
8.3
8.0
12.7
12.7
76.4
76.3
r4.8
9.9
9.0
7.5
7.6
7.9
8.2
1.5
1.6
1.6
1.6
9.4
8.3
8.4
8.2
8.4
8.8
9.0
9.2
5.4
5.3
5.3
5.2
1.5
1.5
1.4
1.4
8.7
8.0
8.1
7.6
10.0
10.2
10.4
4.9
1.4
1.4
6.6
6.4
10.8
11.0
10.6
10.2
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
9.5
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 46 and 47.
1
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
SEPTEMBER 1982
83
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
^J PRICE MOVEMENTS
Fixed-weighted price index,
gross business product
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972 = 100)
310c. Change
over 1-quarter
spans '
(Ann. rate,
percent)
311. Index
(1972 = 100)
311c. Change
over 1-quarter
spans!
(Ann. rate,
percent)
Consumer prices, food
Consumer prices, all items
320. Index (u)
320c. Change
over 1-month
spans l
320c. Change
over 6-month
spans '
(1967 = 100)
(Percent)
(Ann. rate,
percent)
322. Index
322c. Change
over 1 -month
spans l
322c. Change
over 6-month
spans '
(1967 = 100)
(Percent)
(Ann. rate,
percent)
1980
January
February
March
10.5
April
May
June
10.1
. . .
180." 6
October
November
December
185 '.2
233.2
236.4
239.8
1.4
1.2
1.4
15.5
15.0
14.5
244.5
244.9
246.9
0.4
0.2
0.8
10.4
242.5
244.9
247.6
0.9
0.9
1.0
11.6
10.4
248.6
250.4
251.7
0.7
0.7
0.5
10.8
12.2
247.8
249.4
251.7
0.1
0.7
1.0
10.0
10.3
10.3
253.7
257.8
261.5
0.8
1.6
1.4
12.5
13.4
13.5
253.9
256.2
258.4
1.1
1.1
1.0
11.8
12.4
11.4
263.7
266.6
268.2
0.8
1.1
0.6
12.7
10.5
260.5
263.2
265.1
0.8
1.0
0.6
10.0
269.3
271.0
271.7
0.4
0.6
0.3
6.6
4.6
3.8
266.8
269.0
271.3
0.4
0.8
0.7
272.3
272.6
273.2
0.2
0.1
0.2
4.3
4.1
4.9
274.4
276.5
279.3
1.1
0.8
1.1
9.8
9.1
275.0
276.5
278.3
0.7
0.5
0.7
5.0
5.0
4.7
7.4
279.9
280.7
281.5
0.4
0.5
0.4
7.2
6.0
3.2
279.0
279.3
279.5
0.3
0.1
0.1
4.8
4.9
2.8
4.4
282.5
283.4
283.1
0.3
0.2
2.8
3.7
5.1
281.5
283.2
282.2
0.7
0.6
2.9
4.4
5.6
5.7
5.8
283.0
285.4
287.2
183i4
176.*5
July
August
September
11.0
173." 9
172.3
9.9
9.6
IQJ'.Q
10.0
10.5
192 '.3
9.6
7.7
7.9
6.8
7.7
8.0
1981
January
February
March
19C)!6
April
May
June
193!2
July
August
September
197 .*4
October
November
December
201 ! 6
10.4
10.9
197 *.l
8.6
6.8
2oi.*2
9.3
9.0
205 .'7
8.8
209^4
9.3
8.8
9.6
9.3
10.4
10.5
1982
January
February
March
April
May
June
4.3
203.7
2ii."s
r3.8
r4.6
r206.*6
July
August
September
r213.*8
-0.3
284.3
287.1
290.6
0.2
1.0
1.0
292.2
292.8
0.6
0.3
287.0
286.2
-0.4
0.3
0.8
0.6
3.9
2.1
-0.1
-0.3
October
November
December
See note on page 80.
Graphs of these series are shown on pages 48 and 49.
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, and
1-quarter changes are placed on the 1st month of the 2d quarter.
SEPTEMBER
1982
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Qj PRICE MOVEMENTS-Continued
Producer prices, all commodities
Year
and
month
330. Index ©
(1967 = 100)
330c. Change
over 1-month
spans ' (u)
(Percent)
Producer prices, crude materials
Producer prices, industrial commodities
330c. Change
over 6-month
spans ' (u)
(Ann. rate,
percent)
335. Index
®
(1967-100)
335c. Change
over 1-month
spans ' ®
(Percent)
335c. Change
over 6-month
spans ' (u)
(Ann. rate,
percent)
331. Index
(1967-100)
331c. Change
over 1-month
spans '
(Percent)
331c. Change
over 6-month
spans '
(Ann. rate,
percent)
1980
January
February
March
254.9
260.2
261.9
2.1
2.1
0.7
14.5
14.2
13.1
260.6
265.9
268.6
3.0
2.0
1.0
18.7
17.7
16.8
289.0
295.1
289.0
April
May
June
262.8
264.2
265.6
0.3
0.5
0.5
12.5
10.7
271.3
271.9
273.5
1.0
0.2
0.6
12.3
9.5
7.7
283.2
287.5
289.2
July
August
September
270.4
273.8
274.6
1.8
1.3
0.3
11.7
11.6
11.8
276.2
278.2
278.8
1.0
0.7
0.2
8.0
8.6
9.8
October
November
December
277.8
279.1
280.8
1.2
0.5
0.6
10.9
10.3
11.8
282.0
283.4
286.6
1.1
0.5
1.1
January
February . ,
March
284.8
287.6
290.3
1.4
1.0
0.9
11.5
11.0
10.2
291.5
295.7
299.6
April
May
June
293.4
294.1
294.8
1.1
0.2
0.2
8.2
6.2
3.8
July
August
September
296.2
296.4
295.7
0.5
0.1
October
November
December
296.1
295.5
295.8
0.5
0.9
0.1
0.0
2.1
-2.1
1.5
0.6
10.6
16.3
22.8
304.0
318.2
320.3
5.1
4.7
0.7
32.1
31.0
26.8
11.4
13.0
15.5
325.5
329.0
325.7
1.6
1.1
17.2
1.7
1.4
1.3
15.8
15.6
13.3
329.1
332.1
328.4
303.5
304.7
305.1
1.3
0.4
0.1
10.3
7.9
5.3
333.2
333.7
336.9
1.8
1.0
0.7
306.2
307.2
307.4
0.4
0.3
0.1
3.7
3.0
3.2
337.6
334.4
328.4
-0.9
-1.8
1.4
1.5
1.6
309.0
309.3
310.0
0.5
0.1
0.2
3.7
2.9
2.4
322.7
318.1
313.6
-1.7
-1.4
-1.4
-10.5
-10.0
rl.3
311.8
311.6
311.0
319.3
317.3
314.7
1.8
-0.6
-0.8
r-1.6
5.9
8.7
9.9
-2.0
8.9
5.1
-1.0
1981
-0.2
0.1
-0.2
0.1
4.8
2.9
7.0
1.0
0.9
-1.1
5.2
1.4
0.0
1.5
0.2
1.0
0.2
-6.2
-9.1
-13.4
-8.2
1982
January
February
March
April
May
June
July
August
September
0.8
0.1
298.3
298.6
298.0
-0.2
r298.0
298.6
299.4
0.0
0.2
0.3
300.6
300.4
0.4
-0.1
2.1
2.4
1.5
1.2
309.9
309.5
310.7
313.0
313.4
0.6
rO.6
-0.1
-0.2
0.1
0.5
-0.4
-0.1
0.8
1.2
1.7
2.2
0.4
r320.1
327.3
327.0
-O.I
0.7
0.1
323.7
321.9
-1.0
-0.6
2.8
2.9
October
November
December
See note on page 80.
Graphs of these series are shown on page 48.
1
Changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
ItUI SEPTEMBER
1982
85
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
RH PRICE
Producer prices, capital equipment
Producer prices, intermediate materials
Year
and
month
332. Index
(1967-100)
332c. Change
over 1-month
spans '
(Percent)
MOVEMENTS-Continued
332c. Change
over 6-month
spans '
(Ann. rate,
percent)
333. Index
(1967 = 100)
333c. Change
over 1-month
spans 1
(Percent)
Producer prices, finished consumer goods
333c. Change
over 6-month
spans '
(Ann. rate,
percent)
334. Index
(1967 = 100)
334c. Change
over 1-month
spans '
(Percent)
334c. Change
over 6-month
spans '
(Ann. rate,
percent)
1980
January
February
March
267.1
272.0
273.9
2.5
1.8
0.7
15.0
14.3
14.2
228.2
230.0
232.1
1.4
0.8
0.9
13.1
12.2
11.9
235.9
239.4
242.1
1.7
1.5
1.1
15.6
12.9
13.1
April
May
June
274.2
276.0
278.5
0.1
0.7
0.9
10.8
235.6
236.3
238.1
1.5
0.3
0.8
11.4
11.9
10.5
243.5
244.4
246.6
0.6
0.4
0.9
13.2
12.9
10.8
July
August
September
281.1
284.0
285.3
0.9
1.0
0.5
10.2
10.7
11.0
240.9
243.3
244.0
1.2
1.0
0.3
11.0
11.6
11.0
251.0
254.4
254.8
1.8
1.4
0.2
11.3
12.0
10.8
October
November
December
287.9
290.4
293.4
0.9
0.9
1.0
11.7
10.4
11.7
248.2
249.6
250.9
1.7
0.6
0.5
11.0
10.7
11.7
256.9
258.7
259.6
0.8
0.7
0.3
10.5
January
February
March
297.1
298.4
301.5
1.3
0.4
1.0
11.6
10.8
9.4
253.8
256.0
257.9
1.2
0.9
0.7
10.2
10.8
262.7
264.6
267.8
1.2
0.7
1.2
April
May
June
304.1
305.7
306.9
0.9
0.5
0.4
7.5
7.7
5.6
260.2
262.0
264.1
0.9
0.7
0.8
9.5
9.1
7.8
270.4
270.6
272.0
1.0
0.1
0.5
7.9
6.7
4.6
July
August
September
308.1
309.7
309.8
0.4
0.5
0.0
3.7
3.2
2.8
265.6
267.4
267.8
0.6
0.7
0.1
8.1
8.2
7.7
272.9
273.3
273.9
0.3
0.1
0.2
3.6
4.3
3.6
October
November
December
309.7
310.6
311.1
0.0
0.3
0.2
2.5
0.9
0.2
270.5
272.5
274.1
1.0
0.7
0.6
7.5
5.2
6.0
275.2
276.3
276.9
0.5
0.4
0.2
4.1
3.6
2.5
0.3
r-0.9
275.4
274.3
275.7
0.5
4.5
3.9
4.3
278.5
278.2
277.3
-0.1
-0.3
0.2
2.0
4.3
6.5
r277.3
276.6
279.7
rO.O
r-0.3
1.1
2.0
3.5
281.3
283.0
0.6
0.6
9.0
8.5
9.5
8.2
1981
9.9
10.8
9.4
9.8
1982
January
February . . . . . . . .
March . . . . , . . _ . .
April
May
June
312.0
311.1
310.1
*$ .
"...
r308.3
308.8
309.7
July
August
September . . . ; . . .
311.0
310.7
-0.3
-0.3
-1.2
-0.9
r-0.6
-0.6
-0.3
rO.2
0.3
0.4
-0.1
-0.4
0.5
276.5
277.7
279.9
0.3
0.4
0.8
281.2
283.1
0.5
0.7
0.6
rl.5
October
November
December
See note on page 80.
Graphs of these series are shown on page 48.
1
Changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
86
SEPTEMBER
1982
OTHER IMPORTANT ECONOMIC MEASURES
B
PRICES, WAGES, AND PRODUCTIVITY—Continued
^J WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted l
Year
and
month
Current-dollar earnings
340. Index
(1977 = 100)
340c. Change
over 1-month
spans 2
(Percent)
Current-dollar compensation
Real earnings
340c. Change
over 6-month
spans 2
(Ann. rate,
percent)
341. Index
(1977 = 100)
341c. Change
over 1-month
spans 2
(Percent)
341c. Change
over 6-month
spans 2
(Ann. rate,
percent)
345. Index
(1977 = 100)
345c. Change
over 1-quarter
spans 2
(Ann. rate,
percent)
345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)
1980
January
February
March
121.7
122.7
124.1
0.3
0.9
1.1
April
May
June
124.6
125.8
127.0
0.5
0.9
1.0
10.2
July
August
September
127.7
128.7
129.4
0.6
0.7
0.6
10.0
10.2
October
November
December
130.7
132.0
132.6
January
February
March
9.4
9.5
9.6
9.9
8.8
94.4
94.0
93.8
-1.1
-0.4
-0.2
-5.1
-4.6
-4.2
125*.9
93.3
93.4
93.4
-0.5
-1.2
-0.3
-0.8
129.0
0.1
0.0
0.5
0.0
11.8
10.4
0.0
9.0
93.8
93.8
93.4
-0.5
-0.4
-1.6
1.0
1.0
0.4
9.6
9.8
9.9
93.3
93.2
92.7
-0.1
-0.2
-0.5
-2.2
-2.5
-1.4
133.7
134.8
135.7
0.8
0.8
0.6
9.1
8.6
8.9
92.8
92.7
92.7
0.2
-0.2
-0.6
-0.4
April
May
June
136.6
137.6
138.4
0.7
0.8
0.6
8.1
8.7
8.7
93.0
93.0
92.9
July
August
September
139.1
140.5
141.4
0.5
1.1
0.6
8.1
8.0
7.6
92.2
92.5
92.1
-0.8
October
November
December
142.0
143.0
143.5
0.4
0.7
0.3
8.6
6.4
5.7
92.1
92.3
92.3
-0.1
144.9
145.0
145.4
1.0
0.1
0.3
6.3
6.6
r6.6
92.9
92.8
93.3
April
May
June
146.3
147.7
r!48.1
0.6
0.9
0.3
r5.4
p6.5
93.7
93.7
-0.1
r93.1
r-0.7
July
August
September
r!48.8
p!49.7
r92.9
p93.1
-0.2
pO.3
10.4
10.6
10.4
132.3
10.6
9.7
135.4
9.7
1981
0.1
0.3
0.0
-0.1
0.3
-0.4
0.3
-0.1
11.8
139.2
9.4
0.6
-1.3
-0.3
-1.3
141.6
-2.0
-1.4
-1.4
144.7
1.6
0.5
2.6
6.9
8.9
9.2
7.8
7.5
147.'4
p7.*6
1982
January
February
March
0.4
pO.6
0.7
-0.2
3.7
3.0
0.6
rl.7
0.4
r-0.2
pO.8
7.7
150.1
p5.9
p!52.3
October
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
1
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, 1-quarter
changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter.
SEPTEMBER 1982
87
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Continued
Q| WAGES AND PRODUCTIVITY-Continued
Negotiated wage and benefit
decisions, all industries ®
Average hourly compensation, all employees,
nonfarm business sector-Continued
Year
and
348. First year
average changes
Real compensation
346c. Change
over 1-quarter
spans!
346. Index
(1977 = 100)
(Ann. rate,
percent)
346c. Change
over 4-quarter
spans l
(Ann. rate,
percent)
(Ann. rate,
percent)
349. Average
changes over
life of
contract
(Ann. rate,
percent)
Output per hour, all persons, private
business sector
370. Index
(1977 = 100)
370c. Change
over 1-quarter
spans l
370c. Change
over 4-quarter
spans 1
(Ann. rate,
percent)
(Ann. rate,
percent)
358. Index of
output per hour,
all persons,
nonfarm
business sector
(1977 = 100)
1980
January
February
March
8.8
-4.1
96.*4
6.7
...
April
qc o
May
-2.5
0.6
99^3
-2.2
10.2
7.4
lo
98.' 7
-CL5
...
...
-4.3
QQ
yo .9L.
0
Q7 £
1.4
...
98*.4
2*5
99.2
2.2
100.4
0.9
loo.'o
0
. L.
June
July
August
September
October
November
December
2.4
96^3
...
11.4
7.2
-2.8
95*.7
6!6
2.6
98 ! 9
-0.6
...
...
8.5
6.1
...
2.0
99^3
...
1981
0.4
January
February
March
95.*7
April
May
June
95.7
July
August
September
95 ' J
October
November
December
95." 1
7.7
7.2
-1.2
...
...
-0.1
...
5.6
100." 7
-o.'e
11.6
...
10.8
ioo!7
0.0
...
-2.5
10.5
-0.3
...
i
i
1.1
8.1
101 ! 6
0*.4
11.0
5.8
:::
pO.7
ioo!6
-6*. 7
-2.9
106! 2
99! i
p-6'.4
1982
January
February
March
April
May
June
4.3
pi. 9
pi. 2
96.' 1
loo'.o
-1.0
99.*2
...
...
p96.4
...
pi. 2
P 2.1
pi. 2
pi. 6
plOO.3
p99.*3
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
Changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter changes are placed
on the middle month of the 3d quarter.
SEPTEMBER
1982
OTHER IMPORTANT ECONOMIC MEASURES
C I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Qj CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
Labor force participation rates
441. Total
442. Employed
451. Males
20 years
and over
452. Females
20 years
and over
(Thous.)
(Thous.)
(Percent)
(Percent)
Number unemployed
453. Both
37. Total
sexes, 16-19
years of age
(Percent)
(Thous.)
444. Males
20 years
and over
445. Females
20 years
and over
(Thous.)
(Thous.)
446. Both
447. Fullsexes, 16-19 time
years of age workers
(Thous.)
(Thous.)
448. Number employed
part-time
for economic
reasons
(Thous.)
1980
January
February
March
106,493
106,548
106,321
99,833
99,913
99,607
79.6
79.7
79.4
51.3
51.2
51.1
57.6
57.1
57.0
6,660
6,635
6,714
2,722
2,682
2,826
2,370
2,383
2,351
1,568
1,570
1,537
5,276
5,241
5,397
3,567
3,539
3,531
April
May
June
106,482
107,022
106,809
99,112
98,963
98,785
79.4
79.7
79.3
51.3
51.3
51.3
55.9
57.3
56.8
7,370
8,059
8,024
3,276
3,630
3,644
2,578
2,640
2,653
1,516
1,789
1,727
5,987
6,568
6,666
3,943
4,397
4,172
July
August
September
107,221
107,159
107,232
98,891
98,920
99,208
79.4
79.4
79.3
51.4
51.5
51.3
57.4
55.7
56.5
8,330
8,239
8,024
3,772
3,731
3,756
2,739
2,751
2,588
1,819
1,757
1,680
6,908
6,833
6,732
4,243
4,315
4,312
October
November
December
107,437
107,600
107,531
99,328
99,534
99,632
79.3
79.3
79.2
51.4
51.5
51.4
56.6
56.2
56.1
8,109
8,066
7,899
3,607
3,595
3,476
2,784
2,767
2,783
1,718
1,704
1,640
6,709
6,747
6,617
4,236
4,222
4,191
January
February
March
107,923
108,034
108,364
99,901
100,069
100,406
79.1
79.0
79.2
51.7
51.8
52.0
56.6
56.5
56.2
8,022
7,965
7,958
3,461
3,433
3,410
2,804
2,763
2,787
1,757
1,769
1,761
6,611
6,537
6,553
4,451
4,227
4,290
April
May
June
108,777
109,293
108,434
100,878
101,045
100,430
79.2
79.6
78.9
52.1
52.4
52.3
57.0
56.6
53.9
7,899
8,248
8,004
3,337
3,595
3,497
2,796
2,871
2,824
1,766
1,782
1,683
6,442
6,631
6,577
4,200
4,264
4,033
July
August
September
108,688
108,818
108,494
100,864
100,840
100,258
78.9
78.9
78.8
52.3
52.2
51.8
54.5
55.1
55.1
7,824
7,978
8,236
3,298
3,459
3,569
2,872
2,825
2,918
1,654
1,694
1,749
6,365
6,400
6,757
4,374
4,350
4,656
October
November
December
109,012
109,272
109,184
100,343
100,172
99,613
78.8
78.8
79.0
52.3
52.4
52.2
54.8
55.0
54.0
8,669
9,100
9,571
3,851
4,105
4,543
3,017
3,109
3,175
1,801
1,886
1,853
7,204
7,545
8,127
5,009
5,026
5,288
January
February
March
108,879
109,165
109,346
99,581
99,590
99,492
78.5
78.5
78.5
52.1
52.2
52.4
54.2
54.6
53.8
9,298
9,575
9,854
4,322
4,351
4,548
3,104
3,286
3,435
1,872
1,938
1,870
7,805
7,897
8,355
5,071
5,563
5,717
April
May
June
109,648
110,666
110,191
99,340
100,117
99,764
78.7
79.1
78.8
52.4
52.8
53.0
54.3
55.7
52.4
10,307
10,549
10,427
4,742
4,904
5,031
3,586
3,608
3,554
1,979
2,037
1,842
8,601
8,717
8,873
5,834
5,763
5,444
July
August
September
110,522
110,644
99,732
99,839
78.8
78.7
53.2
53.1
53.1
54.2
10,790
10,805
5,088
5,139
3,684
3,626
2,018
2,040
8,942
9,067
5,492
5,648
1981
1982
October
November
December
See note on page 80.
Graphs of these series are shown on page 51.
SEPTEMBER 1982
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Ql DEFENSE INDICATORS
Q[ RECEIPTS AND EXPENDITURES
State and local governments l
Federal Government *
Year
and
month
Advance measures of defense activity
500. Surplus
or deficit
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
517. Defense
Department
gross obligations incurred
525. Defense
Department
military prime
contract
awards
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers'
new orders,
defense
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
1980
January
February
March
-39.' 7
525! 7
565.' 4
29! i
374 '.5
345 '.3
12,578
12,399
13,806
5,491
6,839
5,887
71,178
71,665
73,179
3,583
3,680
4,741
April
May
June
-eY.'s
520.' 2
587^7
23!3
376 ! 6
353!3
13,722
13,718
12,809
6,944
6,901
6,450
73,912
74,252
74,592
4,489
3,724
4,230
July
August
September
-73.' 1
542! 4
615%.4
27." 1
389! 3
362.' 2
12,677
13,728
13,552
6,211
7,188
6,893
74,870
75,133
76,745
5,839
4,128
5,483
October
November
December
-65 '.2
574.' 6
639!9
33.'6
403!3
37CK3
13,014
12,876
15,825
5,639
6,773
9,835
77,777
78,183
79,936
3,963
3,770
5,122
January
February
March
-39.' 7
62C)!o
659^7
31.3
4l6".6
37s!e
14,808
15,741
15,560
7,155
7,514
7,590
82,087
83,608
84,883
4,341
5,340
4,198
April
May
June
-40 ! 5
627 '.6
667^5
32!9
415.*2
382 .*2
15,210
15,699
15,156
8,505
7,967
7,041
84,994
85,165
86,126
4,153
4,842
4,680
July
August
September
-58."6
64CL2
698 ! 2
33!5
420.' 3
386 ."9
16,836
17,374
16,584
8,845
9,504
9,325
87,968
89,857
91,896
5,010
5,010
5,927
October
November
December
-10L7
625 ".7
727 ".4
29." i
42l!5
392! 4
12,892
15,674
19,805
4,466
9,817
9,049
91,354
92,575
93,827
4,109
5,003
5,644
January
February
March
r-118.'4
r609!9
728!3
27l7
424^2
396 ! 5
19,361
20,608
18,869
9,756
13,761
9,870
98,818
102,677
105,418
6,573
7,213
7,065
April
May
June
r-119.*6
r617.'6
r736!6
r32.1
r434.3
20,793
17,786
17,503
10,518
9,657
14,296
108,428
108,841
109,654
6,174
4,775
5,437
p!7,669
8,610
110,885
r4,684
p5,495
1981
1982
July
August
September
.
r402.2
(NA)
(NA)
(NA)
October
November
December
See note on page 80.
Graphs of these series are shown on pages 52 and 53.
1
Based on national income and product accounts.
90
SEPTEMBER
1982
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
HQI DEFENSE INDICATORS-Contmued
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of
defense and
space equipment
559. Manufacturers' inventories, defense
products
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
(1967 = 100)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
588. Manufacturers' shipments, defense
products
570. Employment in defense products
industries
(Mil. dol.)
(Thous.)
Defense Department
personnel
577. Military,
active duty <u)
578. Civilian,
direct hire
employment (u)
(Thous.)
(Thous.)
564. Federal
purchases of
goods and
services
(Ann. rate,
bil. dol.)
565. Federal
purchases as
a percent of
GNP
(Percent)
1980
January
February
March
97.2
97.6
97.4
8,448
8,504
8,849
48,917
49,594
51,293
10,900
10,652
11,358
2,829
3,003
3,042
1,346
1,352
1,358
2,029
2,032
2,033
964
965
966
126.' 8
i!g
April
May
June
97.6
97.4
97.7
9,012
9,177
9,319
52,708
53,276
54,378
11,188
11,061
11,537
3,074
3,157
3,127
1,360
1,364
1,365
2,028
2,031
2,034
969
975
988
130 .'o
5!l
July
August
September
97.9
97.7
98.1
9,604
9,917
9,966
57,023
58,009
60,068
11,193
11,425
11,993
3,194
3 S 141
3,424
1,367
1,373
1,377
2,044
2,049
2,051
990
973
971
13CK5
4*.9
October
November
December
99.2
100.3
101.0
10,238
10,298
10,535
60,597
60,863
62,544
12,193
12,224
11,992
3,433
3,504
3,440
1,382
1,386
1,388
2,053
2,056
2,051
971
972
973
138!i
s!6
January
February . .
March
100.9
100.5
100.7
10,918
11,154
11,406
63,458
65,143
65,468
12,639
12,932
12,619
3,427
3,655
3,873
1,391
1,388
1,390
2,056
2,061
2,062
973
972
974
143*. 1
5*.6
April
May
June
101.5
102.0
101.7
11,627
11,760
12,155
65,852
66,940
67,758
12,833
13,433
13,264
3,768
3,754
3,863
1,393
1,393
1,394
2,060
2,064
2,070
980
990
1,008
15o!5
5*.2
July
August
September
102.6
102.8
103.0
12,163
12,217
12,492
68,799
69,711
71,650
13,889
13,809
14,014
3,968
4,099
3,988
1,394
1,396
1,396
2,082
2,084
2,083
1,023
1,017
984
154. * 4
5*.2
October
November
December
104.5
105.3
107.0
12,618
12,962
13,154
71,701
72,560
73,919
14,227
14,548
15,298
4,057
4,145
4,285
1,391
1,384
1,389
2,090
2,097
2,093
998
1,006
1,009
166! 9
5!6
105.2
106.5
107.0
13,334
13,598
13,857
76,490
79,329
81,905
14,152
14,689
15,075
4,002
4,374
4,490
1,385
1,378
1,376
2,104
2,109
2,107
1,008
1,013
1,018
166! 2
5!5
April
May
June
107.2
107.7
r!07.9
13,946
14,029
14,227
83,808
83,914
84,530
4,271
4,669
4,821
1,373
1,369
rl,367
2,106
2,104
2,108
1,022
1,028
1,045
r!76.*2
5.*8
July
August
September
r!09.1
pllO.O
14,205
r84,413
p85,189
15,670
15,379
15,334
r!6,312
p!5,122
r4,800
p4,721
pi, 367
r2,110
p2,lll
1,051
pi, 043
1981
1982
January
February
March
(NA)
(NA)
October
November
December
See note on page 80.
Graphs of these series are shown on pages 54 and 55.
SEPTEMBER 1982
91
OTHER IMPORTANT ECONOMIC MEASURES
E
I
U.S. INTERNATIONAL TRANSACTIONS
Q| MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
604. Exports of agricultural products
(Mil.dol.)
(Mil. do). )
606. Exports of nonelectrical machinery
612. General imports,
total
616. Imports of
automobiles and parts
(Mil.dol.)
(Mil.dol.)
(Mil.dol.)
614. Imports of
petroleum and
petroleum products
(Mil.dol.)
1980
January
February
March
17,419
16,984
18,265
3,442
3,484
3,325
3,297
3,454
3,423
21,181
21,834
24,866
5,614
7,741
6,991
1,899
2,035
1,960
April
May
June
18,567
17,647
18,440
3,329
3,326
3,085
3,571
3,620
3,943
19,831
20,658
20,427
5,185
7,191
6,611
1,710
1,999
1,843
July
August
September
18,267
19,086
18,828
3,286
3,557
3,596
3,985
4,230
4,027
19,189
19,719
19,934
5,153
6,018
4,982
2,103
2,139
2,270
October
November
December
19,217
18,715
19,251
3,485
3,464
3,838
4,117
3,968
3,819
20,327
19,856
21,427
5,876
6,051
6,254
2,189
2,314
1,897
January
February
March
18,902
19,788
21,278
4,295
3,977
4,201
4,058
4,155
4,352
22,616
21,916
21,029
7,359
8,018
5,992
2,264
1,742
2,125
April
May
June
19,786
18,899
19,750
3,604
3,708
3,256
•4,311
4,160
4,388
22,249
21,232
22,005
6,919
6,329
6,521
2,042
2,299
2,257
July
August
September
19,289
19,031
19,551
3,089
3,202
3,563
4,567
6,207
4,559
20,114
23,242
21,274
5,400
6,335
5,709
2,108
2,635
1,943
October
November
December
19,163
19,153
18,885
3,735
3,442
3,220
4,338
4,366
4,005
23,077
22,508
19,746
6,123
6,483
4,636
2,464
2,239
2,164
January
February
March
18,737
18,704
18,602
3,258
3,590
3,225
4,346
4,054
3,997
22,829
19,090
20,349
6,810
4,396
4,290
2,389
2,135
2,596
April
May
June
17,843
18,218
18,822
3,400
3,527
3,332
3,932
3,957
4,211
17,387
20,558
21,310
3,560
4,027
4,823
2,264
2,896
1,798
July
August
September
18,026
2,789
4,305
19,559
5,929
2,439
(NA)
(NA)
(NA)
(NA)
1981
1982
(NA)
(NA)
October
November
December
See note on page 80.
Graphs of these series are shown on page 56.
92
SEPTEMBER
1982
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS—Continued
£g| GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted!
Goods and services
Year
and
month
668. Exports
667. Balance
(Mil. dot.)
(Mil.dol.)
669. Imports
(Mil.dol.)
622. Balance
(Mil.dol.)
618. Exports
(Mil.dol.)
Income on nvestments
620. Imports
(Mil.dol.)
651. U.S. investments abroad
(Mil.dol.)
652. Foreign
investments in
the United
States
(Mil.dol.)
1980
January
February
March
"37
85,277
85,240
-9,679
54,752
64,431
19,944
10,505
April
May
June
306
82,949
82,643
-6,520
55,843
62,363
16,016
10,268
July
August
September
4,824
85,385
80,56i
-3,949
55,786
59,735
17,848
10,485
October
November
December
a.iai
88,49i
85,360
-5,190
57,856
63,046
18,877
n.sis
4,667
93,280
88,613
-4,312
60,683
64,995
20,528
12,405
2,909
94,389
91,480
-6,547
60,284
66,831
21,642
is.iii
July
August
September
2,559
92,965
90,406
-7,845
57,694
65,539
22,048
13,865
October
November
December
943
92,259
91,316
-9J85
57,593
66,778
21,727
13,198
January
February
March . .
r3,136
r90,206
r87,070
r-5,873
r55,780
r61,653
r20,890
r!4,029
April
May
June
p3,794
p91,286
p87,492
rp-5,784
rp55,094
rp60,878
p22,709
p!5,036
1981
January
February
March
;..
April
May
June .
. . .
1982
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 57.
1
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department of
Defense purchases (imports).
licit
SEPTEMBER 1982
93
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
QU INDUSTRIAL PRODUCTION
Year
and
month
47. United States,
index of industrial production
(1967-100)
1
721. OECD
European countries, index of
industrial
production
728. Japan,
index of industrial production
725. West
Germany, index
of industrial
production
726. France,
index of industrial production
722. United
Kingdom, index
of industrial
production
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
727. Italy, index
of industrial
production
(1967 = 100)
723. Canada,
index of industrial production
(1967 = 100)
1980
January
February
March
153.0
152.8
152.1
163
163
163
230.7
241.0
235.0
164
167
164
166
167
166
130
128
125
168.9
176.1
174.6
162.9
161.9
164.8
April
May
June
148.2
143.8
141.4
163
158
159
238.2
235.7
234.4
164
161
160
167
160
160
124
124
124
176.1
162.3
167.4
160.8
158.4
158.1
July
August
September
140.3
142.2
144.4
161
154
155
234.5
225.3
233.4
161
157
157
166
166
156
123
120
118
165.2
141.5
160.8
157.5
158.8
160.9
October
November
December
146.6
149.2
150.4
156
156
156
235.7
232.6
236.4
160
157
156
159
157
163
118
117
117
163.2
169.5
159.4
162.0
162.7
163.1
January
February
March
151.4
151.8
152.1
154
159
158
237.2
237.0
237.7
156
164
160
156
159
157
116
117
117
158.6
170.3
169.3
160.7
163.8
166.2
April
May
June
151.9
152.7
152.9
156
156
155
238.0
235.2
240.7
160
160
156
156
159
160
117
116
118
168.4
158.0
159.8
166.2
168.4
169.8
July
August
September
153.9
153.6
151.6
156
152
156
243.1
240.7
245.6
157
157
160
157
157
160
117
117
118
164.2
137.2
164.1
165.9
163.0
160.6
October
November
December
149.1
146.3
143.4
156
158
156
248.3
248.4
247.1
160
157
156
160
160
163
121
118
118
160.2
170.8
160.3
158.3
155.6
153.6
140.7
142.9
141.7
156
159
158
245.8
244.0
247.1
160
161
163
156
156
157
117
118
118
160.9
173.6
168.1
152.2
151.8
150.0
April
May
June
140.2
139.2
r!38.5
158
156
p!54
244.8
238.3
P243.8
r!61
160
154
156
159
p!59
118
120
pl!7
r!67.5
r!47.7
r!49.9
r!46.2
July
August
September
r!38.7
P138.0
(NA)
(NA)
p!52
(NA)
(NA)
(NA)
1981
1982
January
February
March
161.8
p!53.4
(NA)
(NA)
October
November
December
See note on page 80.
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
p!41.9
SEPTEMBER 1982
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Q CONSUMER PRICES
Japan
United States
Year
and
month
320. Index ®
320c. Change
over 6-month
spans '
738. Index ®
West Germany
738c. Change
over 6-month
spans *
735. Index ®
United Kingdom
France
735c. Change
over 6-month
spans J
736. Index ®
736c. Change
over 6-month
spans '
732. Index ©
732c. Change
over 6-month
spans '
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
233.2
236.4
239.8
15.5
15.0
14.5
271.3
273.3
275.0
9.9
9.6
9.4
171.0
172.8
173.8
5.6
5.6
5.5
277.2
280.2
283.4
14.8
14.5
14.1
394.1
399.7
405.1
20.2
19.8
19.5
242.5
244.9
247.6
11,6
10.4
9.6
280.1
282.6
284.0
8.5
7.6
8.0
174.9
175.6
176.5
6.4
5.5
4.9
286.7
289.3
291.1
12.7
12.5
12.1
419.0
422.8
426.8
17.2
14.4
13.3
July
August
September
247.8
249.4
251.7
10.0
10.3
10.3
284.0
283.2
288.3
6.1
7.2
5.5
176.8
177.0
177.0
4.6
5.0
5.4
295.5
298.4
301.0
12.2
12.6
13.2
430.4
431.3
434.1
10.9
11.3
11.1
October
November
December
253.9
256.2
258.4
11.8
12.4
11.4
288.8
289.4
288.3
6.2
5.3
4.6
177.3
178.3
179.4
5.4
5.4
6.3
304.3
306.4
309.1
12.9
12.7
12.6
436.8
440.3
442.7
9.1
10.6
12.0
January
February
March
260.5
263.2
265.1
10.0
9.3
8.8
291.1
290.8
292.2
4.4
3.1
3.8
180.9
182.3
183.5
6.6
6.2
5.7
312.7
315.6
318.8
13.2
13.0
13.0
445.5
449.5
456.2
13.0
12.1
11.6
April
May
June
266.8
269.0
271.3
9.6
9.3
10.4
294.5
297.0
297.3
2.6
2.9
3.2
184.7
185.4
186.3
6.3
6.7
6.9
323.1
326.0
329.2
13.8
14.3
15.3
469.4
472.4
475.2
12.5
12.1
10.7
July .
August
September
274.4
276.5
279.3
10.5
9.8
9.1
296.4
294.7
299.5
3.9
4.1
4.2
187.1
187.7
188.6
6.9
7.1
6.9
334.9
339.0
342.9
14.9
15.7
15.1
477.3
480.8
483.5
10.4
11.8
12". 5
October .
November
December
279.9
280.7
281.5
7.2
6.0
3.2
300.7
299.8
299.8
4.0
3.3
2.4
189.2
190.1
190.7
6.3
4.8
3.5
347.1
350.3
352.4
13.9
13.6
13.0
487.9
493.0
496.1
11.5
9.9
10.0
January
February
March
282.5
283.4
283.1
2.8
3.7
5.1
300.7
299.8
300.4
1.9
0.5
0.1
192.3
192.8
193.1
3.0
3.5
4.9
356.0
359.6
363.8
13.0
12.0
12.0
499.0
499.1
503.5
8.4
7.3
6.0
April
May
June
284.3
287.1
290.6
5.7
5.8
302.9
303.8
303.8
194.0
195.2
197.1
4.9
5.4
368.2
371.1
373.7
9.9
(NA)
513.6
517.3
518.9
6.0
5.2
July
August
September
292.2
292.8
1980
January
February
March
April
May .
June
. . .
1981
1982
301.5
(NA)
-0.5
(NA)
197.6
197.3
374.7
(NA)
518.9
517.0
October
November
December
See note on page 80.
Graphs of these series are shown on page 59.
1
Changes over 6-month spans are centered on the 4th month.
itcn
SEPTEMBER
1982
95
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Continued
fiS
Year
and
month
Qj STOCK PRICES
CONSUMER PRICES-Continued
Italy
Canada
737. Index ® 737c, Change
over 6-month
spans 1
733. Index (u) 733c. Change
over 6-month
spans '
19. United
States, index
of stock
prices, 500
common
stocks @
748. Japan,
index of
stock
prices (g)
745. West
Germany,
index of
stock
prices (u)
746. France,
index of
stock
prices (g)
742. United
Kingdom,
index of
stock
prices (§)
747. Italy,
index of
stock
prices (u)
743. Canada,
index of
stock
prices ©
•
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 =100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 =100)
(1967 = 100)
(1967 = 100)
9.9
9.7
9.9
120.6
125.5
113.9
420.1
425.5
413.0
117.2
123.3
118.1
203.8
207.4
185.4
224.3
239.4
231.6
59.8
61.1
61.1
224.7
256.3
203.2
1980
January
February
March
367.9
374.3
378.2
22.3
22.5
19.9
231.3
233.3
235.8
April
May
June
384.3
388.2
391.7
18.9
19.3
20.3
237.2
240.0
242.7
10.4
11.2
11.7
112.0
117.1
124.6
417.6
422.9
423.8
116.5
118.8
120.6
189.0
201.1
201.4
228.1
230.3
240.7
61.0
61.5
64.8
212.8
216.4
227.5
July
August
September
398.7
403.5
411.6
20.0
21.4
22.7
244.5
246.8
249.0
12.2
12.5
12.4
130.4
134.3
137.6
424.9
429.1
437.6
121.2
121.7
120.0
198.9
199.9
203.0
255.9
256.7
262.6
66.0
74.4
82.7
240.0
232.3
233.5
October
November
December
418.5
427.3
432.5
20.7
20.4
20.3
251.2
254.3
255.8
13.6
13.1
13.2
141.7
147.6
145.2
447.5
447.8
443.5
120.6
117.2
116.3
218.0
215.2
206.6
267.4
277.5
267.6
93.5
99.2
96.0
223.3
235.2
219.9
January
February
March
440.7
449.1
455.4
20.1
20.1
19.3
259.1
261.7
265.2
13.1
12.2
13.2
144.6
139.7
144.9
457.9
458.2
467.3
115.3
114.0
116.3
191.1
201.1
209.4
259.0
269.0
273.2
110.0
122.1
125.9
223.7
218.6
233.9
April
May
June
461.3
468.7
473.9
18.9
18.2
16.8
267.2
269.6
273.8
12.3
12.3
11.9
146.2
143.3
143.9
494.6
502.8
515.2
122.7
122.1
126.1
197.7
162.5
152.3
293.2
295.6
289.0
132.4
135.9
123.5
232.3
245.7
242.9
July .
August
September
477.7
481.0
487.7
17.7
16.8
17.0
276.2
278.2
280.2
12.2
12.2
11.0
140.5
141.0
128.7
534.4
540.7
511.3
127.5
122.5
122.5
168.9
177.4
176.5
284.8
298.6
278.9
99.1
112.0
99.1
232.3
231.6
192.3
October
November
December
497.5
506.0
511.1
15.8
15.3
15.6
283.0
285.4
286.7
10.6
10.9
11.2
130.3
133.7
134.7
493.8
505.6
512.7
118.8
118.0
117.7
163.9
169.2
170.7
259.5
278.0
284.2
91.2
93.8
96.9
190.4
208.9
201.2
January
February
March
517.7
524.4
529.1
13.8
13.6
13.1
288.7
292.1
295.8
10.5
11.4
11.4
127.6
124.6
120.6
518.9
516.9
486.2
116.8
118.4
120.1
185.7
193.1
145.9
291.1
300.1
298.8
95.0
98.8
104.2
185.3
176.7
173.1
April
May
June
533.9
539.8
545.2
15.9
19.0
297.5
301.5
304.5
11.1
10.2
126.5
126.6
119.7
484.5
503.4
489.6
120.6
117.6
114.2
184.8
183.3
166.3
303.2
315.4
314.6
96.7
91.0
83.1
171.2
168.4
153.8
July
August
September
553.4
563.4
119.0
119.3
P133.5
480.8
474.3
P477.7
113.5
112.3
P114.0
rp!63.9
rp!64.1
P172.1
313.2
rp325.3
p347.4
78.4
rp84.7
P84.2
156.8
rp!68.9
p!86.7
1981
1982
306.1
307.6
October
November
December
See note on page 80.
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.
96
SEPTEMBER 1982
C. Historical Data for Selected Series
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
1948...
1949. ..
1950. ..
1951. . .
1952. ..
1953. ..
1954...
1955. ..
1956. ..
1957...
1958. ..
1959. ..
1960. ..
1961. ..
1962. ..
1963. ..
1964. ..
1965. ..
1966...
1967. ..
1968. ..
1969. ..
1970. ..
1971...
1972...
1973. ..
1974. . .
1975. ..
1976. ..
1977. ..
1978. ..
1979. ..
1980. ..
1981. ..
1982. ..
-0.33
-0.99
0.58
5.41
0.59
1.73
-2.46
0.78
1.31
-0.25
-2.39
0.73
-1.54
-0.34
0.40
0.93
1.07
1.00
1.82
-0.06
0.00
0.18
-0.82
1.18
0.37
2.69
4.12
-2.64
-1.43
1.38
2.66
5.05
4.19
1.10
-0.30
-0.85
0.36
3.72
-0.01
0.42
-1.69
0.62
0.23
-0.02
-1.12
1.45
-0.86
0.17
0.62
1.04
0.71
1.18
1.84
0.28
0.26
0.66
-1.07
0.88
0.67
3.10
3.91
-2.73
-0.15
0.54
2.98
7.30
2.46
0.52
-0.14
-0.96
0.41
3.91
1.97
-0.80
-2.49
1.19
0.41
-0.87
-0.51
0.89
-1.24
-0.31
-0.48
1.36
0.78
0.84
2.43
-0.43
1.60
0.75
-0.89
-0.02
0.43
4.27
3.19
-3.31
1.00
0.45
4.57
6.66
1.32
0.35
0.01
-1.30
0.46
3.31
2.18
-0.52
-1.83
0.36
1.22
-0.86
-0.85
0.52
-1.07
0.18
-0.78
0.60
0.85
0.89
1.76
0.16
0.32
2.32
-1.27
-0.55
0.35
3.67
3.12
-2.68
0.94
1.62
4.05
4.98
-0.17
1.62
-0.34
-1.10
0.43
2.42
0.21
-0.09
-1.79
0.34
0.55
-0.64
-0.34
-0.40
-0.61
0.16
-0.39
0.84
1.13
0.88
1.51
1.06
-0.35
1.08
-0.89
-1.27
1.04
3.65
5.12
-1.79
0.66
1.11
5.04
2.32
-3.14
1.96
0.73
-1.24
0.77
2.60
2.72
-0.53
-1.67
0.56
0.26
-1.25
0.22
0.24
-0.26
0.09
-0.16
-0.14
1.21
0.92
2.14
1.57
-0.14
-0.02
-0.82
-1.38
0.99
3.06
3.88
-2.24
0.70
2.20
4.31
4.31
-0.72
0.02
0.36
-0.88
2.33
2.25
1.80
-2.18
-1.19
0.81
1.48
-1.73
0.14
-0.03
-0.43
0.41
0.03
0.00
1.59
0.79
1.78
0.63
-1.19
-0.04
-1.00
-0.76
0.63
2.04
4.34
0.03
1.71
1.07
3.71
1.39
3.91
1.84
0.21
-0.41
3.91
0.97
0.65
-2.25
-1.00
0.65
1.90
-1.70
0.00
0.11
0.45
0.43
-0.42
0.11
0.61
0.75
1.08
0.36
0.74
-0.25
-1.39
-0.05
0.74
2.87
5.61
-0.80
-0.44
1.52
4.50
0.35
1.37
-0.40
-0.27
-0.30
2.18
0.80
0.85
-3.49
0.30
1.18
0.12
-1.41
-0.26
1.16
0.32
0.15
0.55
0.59
1.15
1.42
2.38
0.31
1.18
0.78
-0.68
0.95
2.39
3.13
2.86
-0.89
1.00
2.31
5.40
2.70
2.75
-0.22
9.6
1.9
29.2
5.7
19.6
-4.7
4.5
9.1
6.6
-16.5
0.5
9.5
-3.5
7.0
2.2
11.5
10.2
17.7
11.1
10.9
2.0
9.9
7.8
32.2
43.1
13.6
20.8
27.8
33.6
46.3
56.5
36.0
8.6
0.3
-0.3
17.8
-1,1
2.2
-3.5
3.2
12.7
2.4
2.9
3.7
12.5
-2.6
7.0
3.7
6.4
17.7
7.3
10.3
16.8
12.4
11.8
7.7
28.9
38.8
-8.4
27.4
33.5
37.3
53.0
51.5
55.5
7.1
-3.1
5.3
18.4
-0.2
5.4
-3.8
7.6
5.1
1.9
-5.7
5.3
9.2
-6.4
7.8
2.7
15.4
14.2
9.7
7.0
15.2
8.2
15.9
10.2
28.0
51.9
-11.7
26.5
35.8
59.1
37.6
49.8
24.4
4.5
-7.8
3.6
16.6
-2.2
8.7
-4.6
0.8
13.1
3.7
-9.5
14.2
0.2
0.1
1.8
1.2
2.0
-6.5
8.3
14.5
-4.5
3.9
-3.8
6.0
8.0
-0.1
-6.8
6.1
6.8
0.9
9.0
5.4
9.0
-5.5
7.3
9.4
2.2
5.7
-4.6
8.0
6.4
0.9
-1.7
10.8
2.5
-1.1
5.9
5.6
11.4
-4.4
-3.2
5.4
-3.0
9.5
-4.2
6.6
5.7
3.0
-2.4
8.4
4.5
5.1
-2.9
21.9
5.2
-1.0
2.8
-5.4
8.9
5.4
7.0
-1.8
1.9
-2.1
5.2
1.0
17.8
0.1
10.8
2.6
-0.9
5.0
8.0
5.6
4.3
-4.8
1.9
IQ
-0.44
0.34
1.97
1.32
-0.56
-2.54
1.31
1.47
-0.16
-1.91
0.10
0.81
-0.83
0.04
0.48
0.06
1.19
1.31
0.73
1.01
1.50
-0.11
-1.32
0.32
1.21
3.56
-1.03
-1.54
1.58
2.91
7.03
0.57
1.63
-4.07
-0.61
0.43
1.12
0.81
-0.65
-1.85
-0.82
1.16
0.25
-1.45
0.78
-0.02
-0.40
0.33
0.13
0.21
0.88
1.33
0.47
0.46
0.44
0.02
-0.19
0.72
1.50
4.18
-0.84
-0.13
1.00
2.66
6.84
2.26
1.19
-1.69
-0.86
0.26
1.29
0.45
-0.48
-1.94
-0.06
1.87
0.07
-1.44
-0.08
-0.57
-0.30
0.57
1.54
-0.16
1.02
1.45
0.31
1.08
1.00
-0.06
0.66
0.53
2.28
2.93
-2.60
-0.93
1.69
4.45
4.16
2.33
3.37
-2.71
-0.26
-0.93
0.45
4.35
0.85
0.45
-2.21
0.86
0.65
-0.38
-1.34
1.02
-1.21
-0.16
0.18
1.11
0.85
1.01
2.03
-0.07
0.62
0.53
-0.93
0.68
0.49
3.35
3.74
-2.89
-0.19
0.79
0.13
-1.21
0.55
2.78
1.70
-0.38
-1.76
0.42
0.68
-0.92
-0.32
0.12
-0.65
0.14
-0.44
0.43
1.06
0.90
1.80
0.93
-0.06
1.13
-0.99
-1.07
0.79
3.46
4.04
-2.24
0.77
1.64
0.10
-0.53
2.81
1.34
1.10
-2.64
-0.63
0.88
1.17
-1.61
-0.04
0.41
0.11
0.33
0.05
0.23
1.12
0.99
1.75
0.43
0.24
0.16
-1.02
0.05
1.25
2.68
4.27
-0.55
0.76
1.63
-0.64
0.34
1.46
0.86
-0.56
-2.11
0.14
1.50
0.05
-1.60
0.27
0.07
-0.51
0.31
0.72
0.04
1.03
1.36
0.50
0.85
0.98
-0.05
-0.28
0.52
1.66
3.56
-1.49
-0.87
1.42
3.34
-0.16
-0.58
1.32
2.33
0.77
-1.17
-1.12
0.92
0.64
-1.13
-0.36
0.41
-0.56
0.16
0.13
0.45
1.02
1.06
1.52
0.54
0.45
0.44
-0.81
0.05
1.05
3.26
2.64
-1.64
0.69
1.85
6.34
2.66
0.66
3.87
-1.34
1.20
1.48
2.68
0.41
1.72
2.06
-2.82
3.35
1.51
-0.14
5.0
-4.0
20.0
2.8
9.3
-5.0
-3.8
3.0
-5.5
24.0
2.5
5.8
-7.1
4.2
-0.9
-7.2
17.4
3.2
3.7
-3.4
-0.3
2.3
21.8
1.5
9.1
-4.0
5.2
-6.6
6.4
13.5
-1.5
6.1
-4.3
5.0
-8.6
3.8
3.5
-1.0
10.7
-2.1
3.5
-1.1
0.6
4.4
0.8
6.5
11.9
-13.6
9.0
3.6
-6.4
3.2
10.4
1.3
0.5
8.9
9.7
14.2
13.0
AVERAGE FOR PERIOD
AVERAGE FOR PERIOD
5.8
8.7
6.2
0.5
4.7
12.0
17.2
13.3
13.9
4.8
13.8
6.9
-0.2
5.7
18.6
-0.8
9.0
9.1
17.0
14.7
13.7
12.8
12.9
24.8
24.0
46.7
14.5
19.6
36.6
45.5
41.0
38.1
62.6
15.9
14.1
8.4
11.2
19.4
24.0
64.7
16.6
49.9
47.1
41.5
16.3
32.5
65.1
6.3
15.3
23.8
62.1
18.1
24.6
20.9
52.2
60.4
33.1
36.9
-0.1
18.8
40.4
54.5
-2.5
25.6
37.9
55.9
30.6
21.9
38.2
7.4
12.2
6.3
8.2
18.9
4.8
10.3
20.5
3.3
12.8
15.5
12.3
15.2
26.7
34.7
-0.9
29.1
40.9
59.4
63.8
76.3
22.1
17.6
-0.2
13.6
20.4
34.9
57.3
-13.7
30.2
27.0
38.9
50.1
26.8
44.0
11.1
13.2
5.6
7.6
32.0
58.9
-5.5
48.7
23.1
38.5
51.9
17.6
43.8
14.2
15.0
8.9
7.6
26.6
60.4
6.1
31.7
20.6
33.3
80.0
31.3
40.3
Annual
IV Q
Dec.
4.6
2.7
12.5
16.0
6.2
III Q
Nov.
31. CHANGE IN BOOK VALUE OF MANUFACTURING AND TRADE INVENTORIES, TOTAL
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948. ..
1949. ..
1950. ..
1951. ..
1952. ..
1953. ..
1954. ..
1955. ..
1956. ..
1957. ..
1958. ..
1959. ..
1960. ..
1961. ..
1962. . .
1963. . .
1964. ..
1965. ..
1966. ..
1967. ..
1968. ..
1969. . .
1970.. .
1971. ..
1972. ..
1973...
1974. . .
1975. ..
1976. ..
1977...
1978. ..
1979...
1980. ..
1981. . .
1982. . .
II Q
Oct.
25. CHANGE IN MANUFACTURERS' UNFILLED ORDERS, DURABLE GOODS INDUSTRIES
(BILLIONS OF DOLLARS)
7.3
2.9
9.2
1.5
-6.0
10.4
3.2
0.0
5.6
4.1
7.2
-2.1
12.2
3.6
2.3
5.0
-3.5
6.8
6.4
5.2
0.0
1.8
1.4
4.2
6.4
5.9
2.4
-5.6
20.5
2.8
6.3
-5.2
0.0
8.5
6.7
-3.3
4.6
4.8
-4.7
3.5
2.7
4.8
11.1
14.0
11.6
8.6
17.2
4.8
9.8
15.7
8.8
13.5
14.3
14.4
16.1
53.9
57.7
4.6
28.0
40.4
55.9
33.5
25.9
-19.4
12.5
8.6
29.7
44.6
-2.2
24.9
32.4
43.3
45.6
52.6
38.6
13.8
9.5
10.5
14.4
31.2
50.3
-6.7
36.0
30.3
45.6
55.3
40.2
36.6
14.6
11.9
11.0
17.3
24.9
57.3
12.4
33.7
34.8
40.1
45.8
34.0
56.0
8.2
16.6
9.0
10.2
12.0
5.0
6.9
16.7
39.4
58.1
6.7
26.1
33.1
54.7
41.5
27.0
18.6
38. CHANGE IN STOCKS OF MATERIALS AND SUPPLIES ON HAND AND ON ORDER, MANUFACTURING
(BILLIONS OF DOLLARS)
-3.0
10.3
10.4
2.1
3.7
-2.9
6.4
7.8
1.8
-1.9
5.0
2.6
0.9
5.5
4.4
6.0
9.4
15.9
8.5
10.8
13.7
8.5
10.2
14.2
31.3
52.6
2.6
30.2
32.6
45,9
47.0
38.4
37.5
AVERAGE FOR PERIOD
1948. . .
1949. .
1950. . .
1951 . . .
1952. . .
1953. ..
1954...
1955. ..
1956. ..
1957. ..
1958. ..
1959. ..
1960. ..
1961. . .
1962. ..
1963. . .
1964. . .
1965. ..
1966. ..
1967. . .
1968. . .
1969. ..
1970. ..
1971. ..
1972. ..
1973. ..
1974. ..
1975. . .
1976. ..
1977. ..
1978. ..
1979. ..
1980. ..
1981...
1982. ..
-1.40
0.86
0.67
-0.49
-2.42
0.42
-0.98
-0.10
0.96
0.60
0.31
0.84
0.94
0.64
0.90
0.51
-0.71
1.04
0.66
2.52
2.84
-1.61
-0.24
1.39
0.62
4.42
2.76
0.58
0.17
-1.06
0.56
0.41
-0.09
-0.99
1.35
-0.69
-0.36
0.21
0.32
0.07
0.76
1.24
0.17
0.54
0.16
-0.43
0.31
0.77
2.33
3.25
-1.72
-0.11
0.82
1.31
3.26
2.86
0.77
0.10
-1.48
1.12
0.18
-0.43
-0.58
0.80
-1.18
-0.12
-C.21
0.58
0.32
0.66
1.66
-0.23
0.03
0.69
-0.17
0.05
0.46
2.97
2.33
-2.88
1.52
1.28
2.09
3.48
1.52
-0.34
-0.08
-1.05
0.38
0.97
-0.62
-0.54
0.39
-0.95
0.13
-0.64
0.79
0.26
0.07
0.97
0.19
0.04
0.80
-0.15
-0.37
0.32
2.24
2.72
-3.20
0.55
1.14
2.00
4.24
-0.54
1.31
0.38
-0.93
0.48
0.26
-0.24
-0.40
0.01
-0.67
0,23
-0.15
0.38
0.36
0.46
1.01
0.03
-0.15
0.81
-0.23
-0.83
0.78
2.60
4.04
-1.88
1.05
1.34
3.18
1.43
-1.97
1.64
NOTE: These series contain revisions beginning with 1977.
-0.28
-0.66
0.52
-0.22
-0.50
0.15
0.50
-0.45
0.10
-0.19
-0.16
0.49
0.43
1.37
0.52
-0.57
0.18
-0.11
-1.29
0.53
2.29
3.70
-1.52
0.95
0.59
3.11
2.99
-1.55
0.55
-0.95
-0.77
0.80
1.12
-0.91
0.27
0.14
-0.46
0.38
-0.19
0.02
0.57
0.32
0.97
0.60
-0.72
0.31
-0.61
-0.42
0.99
1.91
3.36
-0.40
0.70
0.07
2.47
1.33
1.97
1.88
-1.24
-0.69
0.65
1.04
-0.98
0.15
0.11
0.20
0.80
-0.13
-0.10
0.42
0.16
1.14
0.68
0.27
-0.08
-0.38
-0.05
1.41
2.30
3.31
-0.56
-0.50
1.40
2.98
2.86
-0.18
-1.09
-1.84
0.14
0.86
0.04
-0.58
0.32
0.81
0.09
0.05
0.16
0.30
1.02
0.72
0.30
0.42
0.27
0.55
-0.11
-0.09
1.29
2.62
1.92
-0.60
0.83
1.54
3.29
0.96
0.85
1.12
-1.73
0.56
1.07
0.24
-0.93
0.22
0.50
-0.58
0.07
0.01
0.36
1.19
0.84
0.37
0.29
0.54
0.67
-0.28
0.32
0.88
2.81
-0.38
0.04
0.75
0.95
2.65
2.29
1.43
-2.71
-1.08
-0.18
0.71
0.22
-0.92
0.54
0.31
-0.26
0.33
-0.01
-0.05
0.85
0.61
0.24
0.59
0.55
-0.32
0.51
0.30
1.42
2.54
0.11
0.46
1.70
1.07
4.40
2.55
1.32
-1.26
-1.25
0.09
1.20
0.34
-1.17
0.07
-0.08
-0.68
1.17
0.03
0.02
0.71
1.04
0.08
0.88
0.68
-0.04
0.41
0.58
1.09
2.86
-0.68
-0.47
0.53
2.15
3.18
0.94
0.78
-1.22
-1.31
0.85
0.42
-0.34
-1.33
0.86
-0.95
-0.19
0.32
0.50
0.23
0.75
1.28
0.19
0.49
0.45
-0.44
0.47
0.63
2.61
2.81
-2.07
0.39
1.16
1.34
3.72
2.38
0.34
0.01
-0.88
0.46
0.34
-0.45
-0.26
0.30
-0.69
0.15
-0.33
0.34
0.37
0.32
1.12
0.25
-0.23
0.60
-0.16
-0.83
0.54
2.38
3.49
-2.20
0.85
1.02
2.76
2.89
-1.35
1.17
-1.34
-0.44
0.77
0.73
-0.82
0.25
0.35
-0.06
0.41
-0.05
0.07
0.67
0.40
0.80
0.57
-0.06
0.26
-0.37
-0.19
1.23
2.28
2.86
-0.52
0.34
1.00
2.91
1.72
0.88
0.64
-1.35
0.16
0.99
0.27
-1.01
0.28
0.24
-0.51
0.52
0.01
0.11
0.92
0.83
0.23
0.59
0.59
0.10
0.21
0.40
1.13
2.74
-0.32
0.01
0.99
1.39
3.41
1.93
1.18
-1.73
-0.62
0.77
0.44
-0.65
-0.27
0.44
-0.55
0.22
-0.01
0.26
0.55
0.58
0.86
0.40
0.20
0.35
-0.19
-0.04
0.88
2.50
2.21
-1.19
0.64
1.14
2.61
2.56
0.77
0.10
(SEPTEMBER 1982)
97
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Dec.
IQ
II Q
354.5
340.9
382.3
402.1
423.7
432.5
432.5
467.7
487.0
489.2
491.2
504.9
520.5
538.7
560.3
583.8
617.9
661.9
692.4
713.8
756.8
786.7
786.8
806.2
862.4
904.3
879.5
879.1
353.8
343.6
385.1
402.1
421.9
432.8
435.7
470.0
487.0
487.1
497.7
510.0
517.5
544.2
562.4
583.8
622.7
666.7
695.1
719.3
759.8
785.0
785.8
808.9
869.4
906.8
871.0
882.0
349.8
347.1
389.2
402.4
423.4
430.1
438.3
472.8
487.3
483.5
498.7
518.0
514.4
546.5
564.5
587.4
628.9
669.7
695.1
724.8
762.8
787.0
787.7
817.2
874.9
904.0
866.0
880.0
339.7
344.6
353.3
385.7
404.2
428.8
425.1
441.6
472.8
486.8
479.0
499.6
518.4
519.9
547.9
565.3
593.1
632.1
345.9
342.9
363.8
395.3
409.5
434.3
422.7
452.6
477.9
488.4
476.6
509.0
521.6
526.2
555.4
571.9
604.7
642.1
701.3
728.4
767.1
787.3
796.3
829.6
884.0
888.0
857.4
976.7
1029.3
1050.6
1041.7
1076.5
979.3
1033.4
1053.3
1046.7
1074.3
986.0
1044.4
1054.0
1051.3
1069.3
933.2
988.1
1042.0
1049.2
1060.7
705.5
740.4
774.9
792.8
800.0
837.5
889.6
885.6
861.5
906.0
947.6
1005.0
1043.2
1031.1
1066.3
-12.8
12.9
13.6
0.9
4.4
-7.2
7.4
7.4
0.7
-8.5
2.4
20.5
-7.0
5.2
4.6
7.7
12.6
5.5
0.0
17.2
-5.0
12.2
-1.4
6.3
8.5
-6.2
5.8
0.3
0.8
-3.8
4.3
-1.1
5.7
3.6
1.9
6.9
3.0
3.8
7.2
-4.4
12.0
11.7
5.1
3.1
0.5
10.4
4.8
1.2
0.8
5.5
4.6
6.6
4.1
5.3
7.2
8.4
5.7
2.5
6.6
15.6
1.7
13.0
-4.6
7.1
7.6
5.1
0.4
9.8
-4.8
-2.1
3.0
2.0
4.6
6.9
5.9
2.4
-2.8
2.0
10.4
3.3
-0.3
0.0
7.1
8.0
3.4
-5.1
7.5
11.7
-3.8
10.0
3.7
4.6
7.4
8.9
3.4
51 . PERSONAL INCOME, LESS TRANSFER PAYMENTS, IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948. ..
1949. ..
1950. ..
1951. ..
1952. . .
1953. ..
1954...
1955. ..
1956. . .
1957. ..
1958. . .
1959. . .
1960. ..
1961...
1962. . .
1963. ..
1964. . .
1965...
1966. ..
1967. ..
1969. ..
1970...
1971...
1972. ..
1973. ..
1974. ..
1975. ..
1976. ..
1977...
1978...
1979. ..
1980. ..
1981...
1982...
336.1
344.5
353.3
386.0
398.7
426.2
426.3
439.6
471.9
485.0
479.1
496.6
520.4
519.2
544.5
563.6
588.1
630.3
670.2
700.7
337.6
344.2
350.3
383.8
406.1
428.0
425.7
440.7
473.4
487.1
479.3
498.6
518.2
519.2
548.0
565.1
594.0
632.4
674.0
700.7
345.3
345.0
356.3
387.4
407.7
432.1
423.2
444.5
473.1
488.2
478.7
503.7
516.5
521.4
551.1
567.1
597.2
633.5
676.0
702.5
343.3
343.6
360.0
393.9
405.6
432.6
421.2
448.7
478.6
488.4
474.4
507.0
519.9
522.9
554.4
569.4
601.5
637.1
677.5
704.0
343.8
344.1
364.8
394.1
410.5
434.8
423.3
453.4
476.8
487.2
476.1
509.4
522.5
525.8
555.0
571.7
604.9
642.9
680.9
705.1
350.6
341.0
366.5
398.0
412.4
435.4
423.6
455.6
478.3
489.6
479.3
510.5
522.3
529.8
556.7
574.5
607.7
646.4
685.4
707.5
763.1
785.2
794.8
824.9
878.7
893.5
860.0
888.6
927.1
982.3
1038.9
1055.3
1056.2
767.4
786.7
795.5
830.1
886.0
887.3
856.6
896.7
932.5
987.0
1040.3
1048.2
1061.9
770.7
790.0
798.5
833.7
887.4
883.1
855.7
900.6
940.0
995.1
1046.8
1044.1
1064.0
773.0
793.2
799.0
839.2
887.8
882.6
856.0
904.5
941.8
1004.7
1042.4
1033.8
1064.5
774.6
793.2
801.4
841.6
889.1
885.8
863.2
907.6
948.4
1002.6
1042.7
1029.9
1065.0
777.0
792.1
799.5
831.6
891.8
888.4
865.4
906.0
952.5
1007.7
1044.4
1029.5
1069.4
349.0
339.6
371.8
396.9
408.5
434.2
423.7
461.5
473.1
490.5
488.4
510.5
521.4
530.1
558.6
575.2
610.1
648.6
687.7
710.6
750.2
781.2
793.3
799.8
845.9
898.6
889.1
863.9
909.4
959.0
1016.3
1049.5
1030.9
1071.8
351.9
342.4
378.8
401.6
418.2
431.4
427.6
461.8
479.7
491.5
487.0
504.9
520.6
532.7
559:2
577.3
615.3
651.2
688.7
714.1
752.9
784.9
794.7
803.5
853.1
893.9
884.0
871.6
912.3
960.9
1019.6
1050.8
1032.5
1078.3
352.6
346.2
379.7
399.2
423.8
430.3
430.8
463.8
483.3
490.0
490.0
504.1
519.5
533.7
559.4
580.9
617.9
655.7
689.4
715.2
755.0
786.0
794.5
803.5
854.0
901.2
879.3
875.9
914.0
968.7
1022.1
1050.0
1035.1
1077 .9
IV Q
351.2
342.7
376.8
399.2
416.8
432.0
427.4
462.4
478.7
490.7
488.5
506.5
520.5
532.2
559.1
577.8
614.4
651.8
688.6
713.3
752.7
784.0
794.2
802.3
851.0
897.9
884.1
870.5
911.9
962.9
1019.3
1050.1
1032.8
1076.0
352.7
343.9
385.5
402.2
423.0
431.8
435.5
470.2
487.1
486.6
495.9
511.0
517.5
543.1
562.4
585.0
623.2
666.1
694.2
719.3
759.8
786.2
786.8
810.8
868.9
905.0
872.2
880.4
921.5
980.7
1035.7
1052.6
1046.6
1073.4
5.5
-1.0
-9.7
-6.6
24.7
5.2
-1.7
3.0
3.9
5.3
0.5
4.9
-5.0
0.0
8.0
3.2
12.7
4.1
7.0
0.0
9.9
7.0
2.3
1.1
7.8
10.4
-8.0
-4.6
11.5
7.2
5.9
1.6
31.1
2.8
22.6
11.9
4.8
12.1
-6.8
10.9
-0.8
2.7
-1.5
13.0
-3.9
5.2
7.0
4.3
6.7
2.1
3.6
3.1
5.2
5.3
5.2
4.6
5.3
1.9
-5.5
-1.3
5.3
10.1
10.3
7.8
-6.7
-4.8
13.2
22.1
-6.0
1.4
-5.5
11.9
14.9
0.5
-10.3
8.2
8.2
3.5
7.4
5.0
9.0
7.0
2.7
2.6
5.2
3.6
5.0
0.8
8.2
0.5
-0.7
0.4
5.3
2.3
12.2
-4.9
1.8
1.8
17.2
0.6
15.5
6.3
6.1
13.3
-4.4
-2.9
4.4
5.8
6.2
6.9
1.3
5.0
7.0
11.5
6.2
1.9
8.5
2.5
0.0
3.7
3.5
1.8
4.4
10.6
4.2
8.7
-2.5
0.3
26.5
-10.3
5.7
12.5
5.7
1.7
0.9
6.0
3.8
6.1
8.4
2.6
-0.5
9.5
3.7
6.0
5.7
6.7
8.2
4.2
8.1
3.8
-1.7
-2.8
-13.4
3.7
3.6
3.1
-2.1
5.3
6.3
2.0
-5.3
-4.8
18.8
-3.3
-10.8
-3.3
0.3
16.7
-12.3
2.2
25.3
0.0
-2.0
0.7
4.2
10.4
10.4
25.1
15.2
32.5
-7.5
11.6
0.8
18.1
2.5
-3.4
-12.4
-1.8
6.0
1.3
2.4
14.2
2.9
-6.9
17.3
-3.0
9.4
5.3
9.4
-3.6
7.6
-1.9
-2.5
2.3
0.4
6.7
-16.9
8.5
9.1
-0.3
6.3
4.8
10.6
9.6
-1.9
3.0
1.9
2.3
11.8
1.9
4.8
4.2
4.1
5.4
10.7
4.9
1.8
6.1
5.2
8.6
1.2
1.9
0.0
12.0
5.3
-2.3
-2.3
9.9
9.2
0.0
-5.0
0.8
9.2
6.1
0.0
-5.0
17.1
12.8
-6.7
13.0
4.6
0.0
9.7
9.1
4.8
9.6
6.7
1.8
0.5
22.7
9.5
0.9
-2.1
4.6
8.5
10.7'
6.0
5.8
2.1
5.7
10.7
-6.1
-6.7
1.7
-0.3
0.0
1.3
1.1
-11.0
4.1
12.5
-2.6
-1.5
4.1
10.2
3.1
2.9
13.0
7.9
4.3
1.6
5.7
8.3
3.3
1.1
0.6
-0.6
4.7
1.2
2.1
11.6
0.5
-3.2
7.1
10.2
-6.2
0.3
-11.0
-6.7
-8.9
2.4
-4.0
3.9
2.4
4.0
1.5
2.3
10.2
3.0
-0.9
1 .5
10.4
8.8
0.7
10.6
3.2
4.9
3.1
5.2
8.5
13.5
0.8
9.7
5.9
3.9
1.1
2.5
5.4
5.3
-0.9
3.6
7.0
5.9
2.2
5.7
-8.2
6.7
8.3
2.4
-0.6
0.6
2.3
0.6
8.3
5.1
-7.6
2.7
-0.9
-1.5
-2.4
-5.4
4.9
-0.2
2.1
1 .0
-5.8
1.9
5.8
7.4
9.1
1.5
6.4
-3.1
-0.6
2.3
6.2
15.2
1.2
6.5
1.5
11.8
5.3
2.2
1.4
6.8
0.5
-3.1
1.0
10.4
3.2
-10.8
15.4
3.9
-3.3
10.2
-5.6
8.9
1.8
6.9
-3.1
14.5
8.6
-3.1
-4.6
7.6
2.5
3.6
7.4
4.2
0.3
-1.6
8.6
5.5
12.3
-1.1
1.3
7.8
7.3
6.2
-3.5
-0.2
7.1
8.0
3.4
-5.2
-5.6
6.7
3.6
-1.6
-8.0
6.8
-5.8
6.3
3.0
1.2
3.7
0.2
11.4
1.0
1.0
-2.1
3.0
2.0
4.5
6.9
-3.9
-1.0
1.7
3.1
4.7
5.2
6.9
2.4
4.4
3.7
4.6
7.3
8.8
3.3
5.5
2.4
3.0
8.3
5.1
4.9
5.6
4.1
6.2
3.8
8.2
2.3
4.6
4.9
9.9
3.8
2.9
4.6
5.7
2.9
7.2
-0.7
6.6
1.2
6.1
5.2
8.5
2.8
1.8
-2.4
3.1
4.1
5.8
-3.5
-1.4
5.4
3.1
4.0
7.1
0.5
-1.0
2.0
2.4
4.6
2.4
5.4
5.2
-0.9
-5.5
2.0
0.8
0.1
0.4
3.2
5.0
3.0
3.7
2.2
7.5
4.7
2.8
-1.1
2.8
-0.3
0.8
1.1
5.6
2.2
-0.8
3.9
2.1
5.4
7.0
3.1
1.0
5.1
-3.1
1.2
2.0
11.2
.3
- .0
.9
.6
.0
5.8
2.2
2.2
3.2
-3.2
3.2
8.0
2.6
-4.2
7.2
2.5
7.6
5.2
0.4
4.3
1.8
0.1
-4.4
2.7
7.9
5.9
-5.8
4.9
4.7
7.9
5.5
1.0
5.6
-1.5
0.5
-3.4
7.0
10.2
1.2
-5.9
1.9
5.7
7.3
9.0
1.5
6.4
-3.2
4.1
9.6
7.8
-4.7
-8.6
4.4
5.3
2.3
3.8
1.8
5.7
-5.4
7.8
4.6
4.2
3.2
5.6
4.5
2.2
4.2
8.8
6.0
-7.3
-4.3
8.0
5.6
5.4
1.7
-4.5
4.7
0.3
6.8
7.5
5.4
3.1
7.2
3.8
1.5
1.3
2.6
2.8
1.6
3.8
3.2
6.6
5.5
0.9
-4.5
2.0
1.3
16.7
-5.4
11.0
-1.8
8.8
-1.0
7.8
8.4
7.6
-0.1
17.6
11.2
6.3
-4.6
12.0
11.4
8.5
-6.3
5.8
0.3
0.7
-3.9
4.1
-1.2
6.1
-4.7
8.5
5.8
2.8
-3.9
8.6
-0.4
6.5
-2.2
12.0
2.9
0.1
-2.6
8.9
3.4
3.1
6.8
-4.6
13.8
3.1
2.9
1.5
10.4
4.5
1.2
0.5
5.5
4.6
11.9
-4.5
1.7
12.3
2.8
1.2
2.8
1.9
7.2
6.4
4.5
3.3
5.7
4.1
0.9
5.0
10.9
7.9
-8.3
-6.5
6.8
4.3
3.2
2.7
-1.9
5.9
-2.0
3.4
1.9
6.8
3.0
3.8
4.3
4.3
4.2
7.5
4.2
9.4
4.4
4.4
1.9
6.7
5.2
4.8
7.5
6.8
4.2
2.5
6.3
4.1
5.3
7.2
5.6
8.3
5.8
-8.9
-4.7
9.7
5.9
3.7
0.9
-3.7
4.9
-0.4
2.1
7.1
4.2
-4.8
-1.8
7.4
6.5
9.4
1.4
-7.9
3.2
3.3
3.0
5.7
1.4
-0.7
3.1
5.0
7.0
6.5
0.9
-6.8
1.2
3.3
NOTE: These series contain revisions beginning with 1973. Percent changes are centered within the spans: 1-month changes are
placed on the 2d month and 3-month changes are placed on the 3d month. Quarterly and annual figures are averages of the centered changes.
6.0
-0.2
12.6
3.8
6.0
1.8
2.1
8.0
3.4
-0.7
3.6
4.2
-0.6
6.3
3.3
4.1
7.1
6.5
3.8
4.4
5.3
3.2
0.2
3.8
7.4
3.4
-4.1
1.8
5.4
6.4
6.1
1.0
-0.1
1.8
AVERAGE FOR PERIOD
9.8
-2.0
16.3
7.8
5.0
-10.4
8.0
-1.3
4.0
5.9
-6.4
4.7
2.9
0.1
-6.3
0.7
6.6
347.4
343.5
369.8
395.6
413.4
431.7
427.7
456.7
479.1
488.1
485.0
506.5
519.5
530.4
556.2
575.0
608.8
648.0
684.4
709.9
745.3
778.0
790.3
802.3
846.7
894.1
882.5
867.4
908.7
956.1
1012.0
1047.0
1039.9
1069.1
AVERAGE FOR PERIOD
15.0
-16.7
23.7
-9.4
-10.5
8.2
-10.1
3.6
-2.3
-5.5
-10.4
-4.9
5.7
11.8
-4.3
-1.9
1.4
2.7
0.9
10.1
-2.0
0.5
-2.7
11.4
11.9
5.3
-13.1
-8.0
12.4
0.5
-4.4
-6.1
51-C. CHANGE IN PE RSONAL INCOME, LESS TRANSFER PAYMENTS, IN 1972 DOLLARS, OVER 3-MONTH SPANS
(COMPOUND ANNUAL RATE, PERCENT)
1948. ..
1949...
1950...
1951. ..
1952...
1953...
1954. ..
1955. ..
1956...
1957. ..
1958...
1959. ..
1960. ..
1961. ..
1962. ..
1963. . .
1964. . .
1965. . .
1966. ..
1967. ..
1968...
1969. ..
1970...
1971. ..
1972...
1973...
1974. ..
1975. ..
1976. . .
1977...
1978...
1979...
1980. ..
1981...
1982. ..
III Q
AVERAGE FOR PERIOD
51-C. CHANGE IN PERSONAL INCOME, LESS TRANSFER PAYMENTS, IN 1972 DOLLARS, OVER 1-MONTH SPANS
(COMPOUND ANNUAL RATE, PERCENT)
1948. ..
1949. ..
1950. ..
1951...
1952. ..
1953...
1954. ..
1955...
1956. ..
1957...
1958. ..
1959. ..
1960. ..
1961. ..
1962. ..
1963. ..
1964...
1965...
1966. ..
1967...
1968. ..
1969...
1970. . .
1971. ..
1972. ..
1973. ..
1974. . .
1975. ..
1976. ..
1977. ..
1978. ..
1979. ..
1980. ..
1981. ..
1982...
Annual
Oct.
-1.4
5.0
2.1
-3.9
5.9
7.0
0.1
1.9
-1.5
7.2
6.3
2.7
-5.6
7.0
9.5
-2.4
7.7
2.8
6.4
6.6
3.3
3.8
5.3
4.3
-0.4
2.1
8.3
3.0
-3.0
5.3
2.7
6.7
6.0
1.9
2.5
3.4
6.8
7.9
4.0
4.7
3.8
-0.1
-1.2
6.4
8.6
0.8
-6.8
3.7
5.2
5.8
6.1
1.4
5.9
-3.4
6.2
1.9
14.4
4.8
11.6
-3.1
6.6
6.8
6.3
0.9
4.8
-0.2
11.2
3.8
5.8
1.5
2.0
7.7
3.2
-0.6
3.2
3.9
0.2
5.4
3.4
4.1
7.0
6.7
4.2
3.7
5.5
3.1
0.5
3.5
7.1
3.2
-3.9
2.1
4.8
6.2
5.8
1.5
-0.1
1.7
(SEPTEMBER 1982)
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
52 . PERSON ^L INCOME, TOTAL, IN 1972 DOLLARS
(ANNUA L RATE, FJiJjJ-iiWLMO Ur U^ILiLit\
1948. . .
1949. ..
1950. ..
1951. . .
1952. ..
1953. . .
1954. . .
1955.. .
1956. ..
1957. . .
1958. ..
1959. . .
1960. . .
1961...
1962. . .
1963. . .
1964. ..
1965. ..
1966. . .
1967. ..
1968. . .
1969. ..
1970. . .
1971. . .
1972. . .
1973. . .
1974. ..
1975. ..
1976. . .
1977. ..
1978. . .
1979. ..
1980. ..
1981. . .
1982. ..
Annual
IV Q
AVERAGE FOR PERIOD
357.9
364.4
389. 7
403.8
367.4
367.0
398.8
407.2
364.7
365.4
390.4
414.0
363.7
365.8
389.9
414.9
370.5
362.9
390.5
419.2
368.6
362.2
393.
417.
371.5
365.2
399.5
422.6
371.9
369.6
399.7
420.0
373.4
363.9
403.6
423.3
372.6
366.8
405.8
422.7
369.2
370.9
409.4
422.3
360.5
365.2
391.4
405.9
366.3
364.7
390.3
416.0
370.7
365.7
397.5
420.1
371.7
367.2
406.3
422.8
367.3
365.7
396.4
416.2
448. 1
449.6
466.0
500.0
514.9
514.2
534.3
558.9
449.7
449.8
454.1
448.0
454.6
446.2
456.6
448.3
457.8
448.6
456.
449.
453.8
453.1
452.4
456.7
456.0
459.7
455.4
462.3
501.4
517.3
514.4
536.7
556.9
590.0
615.3
639.4
683.6
724.4
593.4
611.8
642.5
682.4
728.7
501.2
518.8
514.9
541.8
555.7
566.3
596.9
614.1
645.9
683.5
730.7
789.8
836.8
862.7
886.5
924.9
990.9
1009.4
989.9
1035.3
1075.4
1133.3
1189.6
1215.8
1227.1
795.8
841.9
865.1
888.2
932.9
998.9
1003.2
991.3
1044.7
1080.5
1137.7
1190.5
1206.3
1232.2
801.9
845.4
868.9
892.0
936.8
999.9
998.8
991.6
1047.3
1089.1
1145.6
1197.3
1201.6
1234.5
506.8
519.6
512.1
544.9
559.2
567.3
599.7
616.5
650.5
687.5
731.9
768.0
805.8
848.1
886.4
892.6
940.7
1000.4
1001.8
994.3
1050.6
1091.2
1153.8
1194.1
1192.7
1234.7
505.2
519.6
514.6
547.1
562.1
571.4
600.3
618.9
654.0
693.1
734.9
769.3
811.3
849.8
879.0
895.0
943.6
1001.8
1005.3
1003.3
1052.8
1095.6
1150.8
1193.6
1190.1
1234.0
506.7
521.9
517.2
548.3
562.5
576.6
602.2
622.1
656.6
696.6
739.1
771.9
816.1
852.0
878.2
910.9
933.8
1004.3
1008.3
1021.1
1052.0
1097.7
1155.2
1194.0
1190.0
1239.5
501.5
522.7
526.8
548.5
561.6
577.4
604.3
622.6
659.4
699.4
741.8
775.8
821.6
856.7
880.3
898.1
948.3
1011.4
1012.8
1009.1
1058.7
1109.0
1167.8
1206.4
1204.7
1248.1
508.6
523.6
525.7
542.7
561.2
577.9
605.2
624.8
664.6
701.2
744.5
779.3
825.2
860.6
882.8
902.1
955.8
1006.9
1007.3
1017.1
1061.0
1110.9
1171.3
1208.5
1204.2
1253.6
512.3
522.1
528.6
542.5
560.7
578.4
605.0
628. 7
667.4
719.4
748.1
780.1
827.2
861.7
884.5
904.0
956.5
1015.2
1002.3
1021.7
1062.0
1118.8
1172.7
1206.9
1208.3
1253.1
516.0
522.9
529.8
543.5
561.7
583.5
607.3
631.8
667.3
714.7
751.2
779.3
829.2
863.1
878.3
905.6
972.8
1018.4
1003.8
1025.1
1062.4
1126.9
1179.6
1207.7
1214.3
1251.1
515.9
520.9
535.2
549.4
559.4
589.1
608.8
631.7
672.0
719.9
755.4
785.1
832.3
861.3
876.7
909.5
983.3
1020.5
996.0
1026.7
1071.8
1130.6
1183.8
1210.8
1217.8
1250.1
453.2
465.1
500.6
516.4
517.9
536.3
557.2
556.9
591.9
610.6
636.2
678.9
723.3
756.5
790.8
835.7
863.9
879.6
917.4
987.3
1017.2
995.0
1025.4
1075.6
1137.2
1195.4
1212.2
1222.2
1245.7
450.6
449.1
468.3
500.9
517.0
514.5
537.6
557.2
564.4
593.4
613.7
642.6
683.2
727.9
764.9
795.8
841.4
865.6
888.9
931.5
996.6
1003.8
990.9
1042.4
1081.7
1138.9
1192.5
1207.9
1231.3
456.3
447.7
479.7
506.2
520.4
514.6
546.8
561.3
571 .8
600.7
619.2
653.7
692.4
735.3
769.7
811.1
850.0
881.2
899.5
939.4
1002.2
1005.1
1006.2
1051.8
1094.8
1153.3
1193.9
1190.9
1236.1
454.2
453.1
489.8
507.5
522.8
527.0
544.6
561.2
577.9
604.8
625.4
663.8
706.7
744.8
778.4
824.7
859.7
882.5
901.4
953.5
1011.2
1007.5
1016.0
1060.6
1112.9
1170.6
1207.3
1205.7
1251.6
454.9
462.4
497.8
516.1
520.6
533.8
550.0
559.3
588.2
608.9
633.2
672.7
719.3
754.4
785.1
832.4
862.8
878.2
910.8
981.1
1018.7
998.3
1025.7
1069.9
1131.6
1186.3
1210.2
1218.1
1249.0
454.0
453.1
483.9
507.7
520.2
522.5
544.7
559.7
575.6
602.0
622.9
658.2
700.4
740.6
774.5
816.0
853.4
876.9
900.2
951.4
1007.2
1003.7
1009.7
1056.2
1105.2
1162.2
1201.0
1205.7
1242.0
100.2
100.4
98.5
115.8
121.9
136.4
129.5
135.6
148.4
153.9
140.2
150.6
158.8
150.2
161.3
166.1
173.5
186.0
198.3
206.0
212.5
221.6
220.2
210.0
218.5
99.5
96.2
105.1
118.8
121.2
137.6
128.5
140.5
150.4
152.1
136.5
155.8
157.4
153.4
164.3
168.2
177.1
187.1
202.5
205.3
215.8
223.7
216.2
211.5
221.9
AVERAGE FOR PERIOD
151.6
154.1
154.7
102.4
92.6
115.0
117.9
130.6
134.3
130.1
145.0
153.8
148.8
142.1
150.6
153.7
157.7
103.2
93.7
116.3
118.6
132.3
133.0
132.7
146.9
153.2
147.5
147.1
152.2
151 .9
160.0
169.1
180.4
189.9
205.1
207.8
216.3
225.1
215.0
210.3
223.7
170.5
181.5
190.5
205.6
206.5
217.8
225.3
212.1
210.7
225.1
171.0
178.9
192.5
205.8
205.9
218.7
224.8
206.8
211.1
227.4
171.4
181.5
194.1
206.1
208.9
219.9
222.6
205.3
211.5
228.8
102.7
95.9
116.0
119.8
134.4
131.5
133,3
147.3
155.1
145.3
147.7
156.8
148.9
160.8
165.8
172.6
184.3
195.8
206.2
210.5
220.6
223.0
208.8
214.4
230.0
229.4
208.9
221.7
234.0
246.6
246.4
229.9
231.4
227.8
210.2
221.8
235.9
247.5
246.6
230.6
228.9
226.6
210.8
221.2
237.1
248.0
244.4
231.1
228.1
219.7
211.1
224.0
237.2
249.6
242.3
232.2
226.0
216.4
213.0
224.9
236.1
250.8
241.6
232.3
223.1
232.2
209.3
217.9
225.0
237.1
251.2
239.5
232.5
230.9
206.7
220.4
231.2
244.4
248.9
229.9
231.8
207.5
206.1
220.4
253.6
213.2
213.3
209.0
229.2
256.9
288.6
286.6
306.9
329.8
350.0
355.8
384.6
402.6
414.1
441.9
462.1
494.9
533.4
581.4
623.0
682.7
747.1
810.4
864.1
934.4
1050.3
1155.9
1247.5
1373.7
1514.5
1702.7
1916.6
2109.6
2380.6
288.8
289.2
314.2
334.3
354.6
364.5
386.1
404.2
420.3
446.3
468.8
504.0
546.9
594.1
635.2
700.4
764.5
819.3
874.7
957.1
1077.9
1187.4
1283.5
1404.2
1561.1
1761.8
1981.9
2185.3
2458.2
238.5
262.1
280.4
289.0
294.7
319.7
341.6
354.2
370.1
391.1
405.0
428.4
451.6
476.9
512.1
559.4
605.7
646.4
715.6
777.0
826.4
890.3
994.2
1108.3
1206.2
1314.6
1438.4
1609.2
1821.3
2034.4
2260.0
2494.6
227.2
254.9
271.8
287.7
289.6
310.3
332.6
351.0
361.1
384.4
402.3
417.8
443.6
466.2
499.2
540.7
588.2
630.0
690.6
754.7
811.1
868.4
951.4
1065.2
1168.6
1265.0
1391.2
1540.4
1732.7
1951.2
2160.4
2415.8
1948. ..
1949. ..
1950. ..
1951. . .
1952. ..
1953. ..
1954. . .
1955. ..
1956. ..
1957. . .
1958. ..
1959. ..
1960. ..
1961. . .
99.8
101.6
98.0
115.5
120.8
135.1
129.7
134.1
148.1
153.6
142.8
149.0
158.9
150.3
99.4
100.9
96.9
115.1
121.9
136.5
129.7
135.4
148.2
154.4
139.4
150.1
159.1
149.8
101.3
98.7
100.7
116.9
122.9
137.7
129.0
137.4
148.9
153.8
138.3
152.6
158.3
150.5
98.3
97.2
103.1
118.7
121.1
137.8
128.6
138.6
151.3
152.7
136.0
154.4
157.5
151.8
99.6
96.6
105.4
118.3
122.0
138.0
128.6
141.1
149.8
151.6
136.0
156.2
158.0
153.2
100.6
94.9
106.7
119.4
120.6
137.0
128.2
141.8
150.2
152.1
100.8
96.0
109.4
119.6
115.9
137.6
127.6
142.7
147.1
151.3
102.2
95.3
112.0
119.4
124.6
136.6
127.7
142.9
150.9
151.3
102.0
96.3
112.1
119.0
129.4
134.2
127.7
143.4
152.5
149.8
156.9
156.7
155.3
156.1
156.4
155.4
152.0
155.2
156.4
1963. ..
1964. . .
1965. . .
1966. . .
1967. ..
1968. ..
1969. . .
1970. ..
1971. . .
1972. ..
166.1
171.0
184.7
196.7
207.1
165.9
174.3
186.4
198.4
205.2
166.2
175.3
186.9
199.8
205.8
220.9
220.6
210.1
216.4
221.2
219.7
209.7
218.4
222.6
220.2
210.1
220.6
167.1
176.6
185.9
201.5
205.5
214.6
223.0
217.8
210.8
221.6
168.5
177.0
187.5
202.0
204.9
216.4
223.9
215.2
212.3
221.9
169.1
177.6
188.0
204.1
205.4
216.4
224.2
215.5
211.3
222.3
169.1
178.8
188.5
204. .3
206.1
216.6
224.7
215.7
210.9
221.1
1974. . .
1975. ..
1976. . .
1977.. .
1978. . .
1979. . .
1980. ..
1981. . .
1982. . .
233.3
213.0
216.5
222.8
235.1
251.2
241.1
234.2
232.2
208.1
218.0
225.0
236. 5
250.7
240.2
231.6
231.0
206.8
219.1
227.3
239.6
251.8
237.3
231.8
230.5
205.9
220.1
229.1
244.1
249.7
232.9
231.5
231.2
207.2
221.0
231.2
243.9
248.8
229.5
231.6
231.0
207.0
220.2
233.4
245.1
248.2
227.3
232.3
230.2
205.9
221.2
234.0
246.4
248.5
226.9
232.0
223. PERSONAL INCOME IN CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1953. . .
1954. ..
1955. ..
1956. ..
1957...
1958. . .
1959. ..
1960. . .
1961. . .
1962. . .
1963. . .
1964. . .
1965. ..
1966. ..
1967. ..
1968. . .
1969. ..
1970. ..
1971. . .
1972. ..
1973. ..
1974. ..
1975. ..
1976. ..
1977. . .
1978. . .
1979. ..
1980. . .
1981. . .
1982. . .
III Q
356.1
364.1
385.7
406.7
53. WAGE AND SALARY INCOME IN MINING, MANUFACTURING, AND CONSTRUCTION IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948. . .
1949. ..
1950. . .
1951. . .
ll Q
200.8
204.3
205.3
206.6
210.8
211.6
214.0
214.2
215.1
213.9
211.2
202.0
216.4
244.0
219.4
246.7
224.5
249.2
219.8
252.1
220.3
253.5
221.4
255.3
225.7
254.8
230.1
257.8
232.2
258.3
235.3
261.2
237.4
262.1
242.8
263.1
220.0
246.6
282.3
287.3
297.8
284.2
288.3
299.5
287.0
287.2
301.9
287.3
286.0
304.9
288.6
286.9
307.5
289.8
287.1
308.6
289.3
287.6
313.3
288.6
289.1
313.6
288.6
290.9
315.9
290.5
292.8
317.5
288.7
295.4
319.9
287.8
296.3
321.9
342.9
353.8
373.5
397.4
406.6
431.3
457.8
483.4
521.6
566.5
613.5
656.3
723.8
783.3
840.4
910.1
1011.7
1118.4
1208.7
1338.6
1460.4
1628.5
1853.4
2076.6
2308.1
346.1
353.4
375.7
397.6
408.7
434.4
455.8
485.7
522.0
572.0
614.4
663.7
729.9
788.1
843.8
921.7
1025.9
1124.6
1214.3
1350.8
1477.1
1642.9
1870.2
2084.5
2330.1
347.6
355.3
378.7
397.9
410.0
438.1
348.1
354.4
382.0
401 . 5
410.7
440.8
349.7
355.6
384.6
403.0
413.7
441.8
352.3
357.4
387.1
403.3
418.0
443.2
353.9
364.0
387.8
403.8
419.8
444.8
355.5
363.8
384.8
404.1
420.1
446.0
354.5
365.8
385.7
404.8
421 .1
448.3
354.5
366.6
386.4
406.1
424.8
449.4
354.7
370.9
390.6
405.6
428.9
451.7
353.7
372.7
396.2
403.2
431 .5
453.7
284.5
287.6
299.6
324.2
345.5
354.2
376.0
397.6
408.4
434.7
495.1
533.7
580.6
622.4
683.1
747.0
808.7
859.2
938.9
1049.9
1157.1
1242.1
1375.0
1514.1
1700.9
1915.8
2107.7
2379.1
497.7
537.8
585.4
626.8
688.8
752.3
809.7
879.0
931.0
1058.5
1168.6
1272.3
1380.2
1526.9
1720.1
1931.9
2123.0
2398.4
500.5
540.6
589.0
631.5
695.1
759.0
814.3
869.4
948.3
1068.0
1181.9
1269.5
1394.3
1548.2
1745.9
1965.3
2162.5
2436.3
504.4
542.7
594.1
635.9
700.6
765.1
819.2
875.9
958.7
1077.4
1186.6
1285.6
1404.8
1559.7
1761.6
1983.1
2183.3
2459.6
507.2
557.5
599.2
638.1
705.6
769.5
824.4
878.7
964.2
1088.3
1193.7
1295.5
1413.5
1575.3
1777.8
1997.4
2210.0
2478.6
507.8
554.6
602.5
639.8
710.6
773.3
823.0
882.1
982.5
1098.9
1204.5
1307.0
1422.6
1593.5
1801.2
2016.8
2236.8
2487.2
511.4
559.4
606.6
646.1
715.8
776.0
825.0
888.6
996.1
1110.3
1204.2
1315.2
1440.5
1608.9
1819.5
2034.2
2260.2
2499.0
517.3
564.2
608.2
653.2
720.4
781.8
831.2
900.0
1004.1
1115.9
1209.9
1321.7
1452.1
1625.0
1843.3
2052.2
2283.0
2497.6
485.8
522.8
571.4
615.4
663.7
730.0
788.2
844.7
919.7
1024.2
1124.9
1214.2
1348.5
1476.9
1644.9
1871.8
2086.8
2330.0
491.8
528.7
578.2
619.8
676.1
742.1
812.8
854.2
933.2
1042.4
1142.1
1228.0
1365.8
1502.6
1686.9
1902.2
2098.0
2364.5
ons beginning with 1977.
102.8
94.1
115.8
118.8
132.4
132.9
132.0
146.4
154.0
147.2
145.6
153.2
151.5
159.5
165.3
171.7
181.6
194.1
206.0
208.4
219.7
223.5
207.0
212.3
22*8.7
235.9
220.9
211.6
223.4
236.8
249.5
242.8
231.9
225.7
101.0
96.6
107.6
118.2
124.7
135.8
129.4
141.4
150.8
151.0
140.8
153.2
155.7
154.7
164.0
168.9
178.1
189.2
203.0
206.6
216.2
223.4
214.4
211.1
223.1
234.8
228.3
209.0
220.8
231.9
244.4
247.5
232.6
230.2
AVERAGE FOR PERIOD
201.2
488.3
524.9
575.8
618.5
671.2
736.3
793.3
850.1
927.4
1034.9
1131.6
1219.7
1356.2
1493.1
1663.4
1891 .8
2099.2
2351.7
101.7
95.9
111.2
119.3
123.3
136.1
127.7
143.0
150.2
150.8
141.1
153.2
155.2
155.5
165.0
169.6
180.2
189.6
205.0
206.8
216.9
225.0
214.3
210.6
223.3
235.3
229.1
208.3
221.6
234.6
246.8
247.2
229.1
230.8
(SEPTEMBER 1982)
99
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
80.8
79.6
79.8
88.3
90.2
92.1
93.0
91.0
96.1
98.2
98.8
101 . 6
101.4
98.8
99.9
97.5
98.3
95.3
97.9
99.7
104.5
108.2
112.9
112.0
113.1
118.9
131.6
142.4
147.1
157.1
165.9
179.5
201.1
216.6
82.3
78.5
81.3
88.8
89.7
93.0
93.7
92.3
96.4
100.2
98.8
101 . 8
102.4
98.8
99.6
97.8
97.0
96.0
99.2
99.7
104.0
108.6
112.8
111.9
113.5
119.9
135.5
141.9
148.1
158.1
167.2
180.1
200.9
219.9
Dec.
IQ
62. INDEX OF LABOR COST PER UNIT OF OUTPUT, TOTAL MANUFACTURING
(1967=100)
1948. ..
1949. . .
1950. . .
1951. ..
1952. ..
1953. . .
1954...
1955. ..
1956. ..
1957. ..
1958. . .
1960. ..
1961. . .
1962...
1963. . .
1964. ..
1965. ..
1966. ..
1967. . .
1968. ..
1969. ..
1970. ..
1971...
1972. ..
1973. ..
1974. ..
1975. ..
1976. ..
1977. ..
1978. ..
1979...
1980. ..
1981. ..
1982. ..
78.6
81.7
79.4
81.7
89.2
90.5
94.5
91.4
92.1
96.4
101.2
78.4
82.0
79.2
83.0
89.2
90.6
94.5
91.7
92.5
95.9
101.8
79.3
81.1
78.5
83.8
89.7
91.2
94.7
90.8
93.2
96.2
102.6
78.8
81.2
77.8
85.3
89.8
91.3
94.5
90.1
93.1
97.1
102.8
78.3
81.8
78.3
85.6
90.6
91.0
94.1
90.1
93.7
97.2
101.7
97.5
103.1
99.7
99.3
97.4
96.3
95.8
99.3
100.9
104.7
111.8
113.1
112.5
115.0
122.4
144.1
143.9
149.3
161.6
170.4
183.7
202.6
98.7
103.4
99.1
98.8
97.8
96.3
96.8
99.5
101.5
104.6
111.5
113.3
113.7
115.7
123.2
145.6
143.0
151.2
163.5
171.5
186.2
99.9
102.7
99.3
98.5
98.5
95.8
96.4
100.3
101.8
105.2
112.4
113.6
114.1
115.7
123.5
147.7
143.4
150.7
163.5
171.5
188.2
203.6
204.4
100.0
101.4
100.3
97.2
97.6
95.2
97.0
99.5
102.2
106.0
112.2
113.3
113.3
116.8
124.4
145.9
144.0
151.8
162.5
175.0
191.7
206.1
100.8
101.1
100.4
97.1
97.6
95.0
97.0
100.0
102.1
106.9
112.1
113.4
113.7
116.3
125.2
145.7
144.3
152.9
163.4
173.5
196.6
207.4
78.5
81.1
77.2
86.7
91.1
91.6
93.4
90.2
94.3
96.9
100.0
97 . 6
101.4
100.5
100.8
97.5
97.9
95.3
97.4
100.3
102.2
106.8
112.6
113.1
113.7
116.9
125.7
143.3
144.2
154.0
163.7
174.4
201.0
208.9
79.8
80.9
76.8
87.8
89.2
91.3
93.1
90.6
97.7
96.9
100.2
99 . 2
100.9
99.8
100.1
98.3
97.8
94.4
97.3
100.9
102.8
106.9
112.8
112.8
113.2
117.2
126.8
141.3
144.5
154.6
164.2
176.4
203.1
208.9
80.9
79.8
76.6
88.7
89.9
90.9
93.5
91.0
95.7
97.6
99.8
100 . 6
100.6
99.3
100.0
97.8
98.0
94.8
98.3
101.0
102.9
107.7
112.9
114.2
113.1
117.6
127.6
141.0
145.3
155.5
164.4
178.3
203.7
209.9
81.4
79.4
77.8
88.7
90.1
91.1
92.6
91.2
95.4
97.1
100.0
101 . 1
101.1
98.8
99.7
97.9
98.5
94.9
98.2
100.4
103.6
108.0
112.9
112.4
113.2
117.8
128.4
140.8
146.7
156.5
165.4
178.9
202.2
212.6
II Q
7 . 73
9.33
8.99
9.33
12.48
12.45
13.62
13.55
14.20
16,35
16.90
16.34
17.33
18.57
18.99
20.05
20.76
21.74
22.75
25.51
27.22
28.78
31.53
34.49
34.86
35.72
38.87
49.08
50.20
55.72
60.65
66.19
74.00
79.42
7 . 84
9.03
9.49
12.55
12.40
13.64
13.61
14.39
16.40
16.83
16.40
17.56
18.69
18.96
20.07
20.87
21.78
22.87
25.74
27.25
29.05
31.85
34.60
34.94
35.82
39.37
49.37
50.67
55.94
60.66
67.06
75.02
80.55
7 . 96
9.64
9.09
9.65
12.64
12.41
13.71
13.65
14.48
16.52
16.82
16.46
17.73
18.63
19.03
20.04
20.96
21.83
23.03
25.88
27.31
29.30
32.05
34.82
35.15
36.16
40.00
49.68
51.09
56.13
61.02
67.34
76.31
82.36
ft
9.62
9.08
9.98
12.57
12.47
13.56
13.60
14.59
16.56
16.68
16.54
17.91
18.75
19.04
19.96
21.07
21.63
23.08
26.20
27.32
29.59
32.69
34.64
35.34
36.21
40.59
49.54
51.44
56.31
61.35
68.12
77.76
82.10
ft
9.53
9.03
10.43
12.33
12.66
13.46
13.62
14.82
16.72
16.58
16.59
18.11
18.72
19.27
20.07
21.14
21.74
23.32
26.41
27.46
29.95
32.71
34.66
35.53
36.60
40.99
49.43
51.76
57.25
61.78
68.58
78.84
83.55
8 . 22
9.52
9.10
10.91
12.34
12.80
13.47
13.62
15.24
16.78
16.52
16.48
18.21
18.76
19.44
20.29
21.10
21.87
23.58
26.43
27.57
30.14
32.98
4.65
5.82
6.95
1.71
9.30
2.62
57.57
62.16
69.27
79.14
84.00
8 . 53
8 . 43
9.39
9.25
8.57
8.79
11.55
12.05
12.35
12.31
13.14
12.93
13.32
13.45
13.61
13.72
15.71
15.42
16.89
16.92
16.36
16.52
16.63
16.83
18.37
18.39
18.70
18.84
19.76
19.63
20.36
20.21
21.19
21.19
22.01
22.04
24.00
23.83
26.71
26.51
27.89
27.64
30.51
30.30
33.24
33.44
34.38
34.53
36.36
35.83
37.04
36.93
42.71
43.65
49.28
48.98
53.16
53.79
58.10
58.07
63.45
62.64
70.49
70.05
79.84
80.14
84.22
85.65
ft
9.13
8.68
12.34
12.36
13.31
13.28
13.75
15.96
16.88
16.18
16.84
18.66
18.70
19.88
20.50
21.18
22.15
24.31
26.81
28.18
30.70
33.65
34.74
36.19
37.17
44.62
49.63
54.45
58.52
63.64
71.35
79.90
86.86
78.8
81.6
79.0
82.8
89.4
90.8
94.6
91.3
92.6
96.2
101.9
98 . 0
98.7
103.1
99.4
98.9
97.9
96.1
96.3
99.7
101.4
104.8
111.9
113.3
113.4
115.5
123.0
145.8
143.4
150.4
162.9
171.1
186.0
203.5
ft
9.12
8.85
12.32
12.33
13.47
13.32
13.82
16.02
16.86
16.15
16.85
18.60
18.94
19.98
20.54
21.43
22.25
24.52
26.84
28.33
30.74
33.98
35.11
35.96
37.38
45.65
49.81
55.45
59.37
63.83
71.62
79.84
88.05
ft
8.92
9.17
12.22
12.32
13.57
13.28
13.88
16.21
16.74
16.30
16.96
18.58
18.96
19.97
20.66
21.50
22.40
24.88
26.91
28.51
31.08
34.24
35.01
35.95
37.64
46.96
49.98
55.13
59.88
64.72
71.83
80.31
88.50
8.98
9.22
12.28
12.33
13.62
13.46
14.01
16.19
16.75
16.35
17.10
18.64
18.81
20.12
20.74
21.62
22.54
25.19
27. 07
28.77
31.26
34.20
34.90
35.93
38.21
48.16
50.27
55.54
59.98
65.38
72.83
79.99
87.66
7
9.64
9.09
9.65
12.64
12.41
13.71
13.65
14.48
16.52
16.82
16.46
17.73
18.63
19.03
20.04
20.96
21.83
23.03
25.88
27.31
29.30
32.05
34.82
35.15
36.16
40.00
49.68
51.09
56.13
61.02
67.34
76.31
82.36
78.5
81.4
77.8
85.9
90.5
91.3
94.0
90.1
93.7
97.1
101.5
97 . 2
100.7
101.0
100.5
97.3
97.7
95.2
97.1
99.9
102.2
106.6
112.3
113.3
113.6
116.7
125.1
145.0
144.2
152.9
163.2
174.3
196.4
207.5
33.49
31.49
29.70
1955. ..
1956 . . . 34 . 51
1957. ..
41.77
1954...
1958...
1959...
38.04
1960. ..
36.71
41.00
1961...
40.60
1962. ..
42.41
1963.. .
44.34
50.23
57.47
1964. ..
1965...
1966. ..
1967. ..
1968. ..
1969...
1970. ..
1971...
1972.
1973.
1974.
1975.
..
..
..
..
1976...
1977...
1978...
1979. ..
1980...
1981. ..
1982. ..
68.12
73.16
94.67
97.66
103.16
101.47
114.28
125.44
151.09
164.03
160.01
182.38
209.23
264.54
312.50
332.78
33.85
30.46
33.28
29.39
34.04
28.90
31.14
35 . 07
31.75
35 . 56
41.47
31.60
38 . 02
41.29
36.47
37.99
35.24
38.39
41.20
41.62
42.65
36.64
37.56
40.62
40.81
43.51
45.16
50.04
58.39
68.05
72.80
91.65
99.90
105.99
101.95
113.74
124.03
153.01
164.23
164.79
184.19
214.70
266.44
320.69
331.57
40.27
44.23
44.72
50.57
60.22
70.90
72.08
92.59
102.45
104.72
103.46
114.87
127.84
153.04
159.61
165.88
188.89
218.00
279.21
317.90
344.52
40.42
44.82
46.07
51.32
61.01
71.08
71.47
93.90
101.35
105.25
101.79
114.97
132.27
154.28
160.46
167.62
191.18
229.24
274.06
310.76
344.36
33.70
28.48
32.37
38 . 51
40.89
34.63
39.50
41.92
40.07
45.51
46.87
52.58
61.24
71.24
71.89
91.69
101.65
104.91
103.23
115.20
133.44
156.28
159.70
170.60
194.48
227.09
281.50
313.38
345.78
32.31
28.27
32.82
79.9
80.5
78.7
86.5
90.0
91.6
93.7
91.0
94.7
97.5
100.6
99 . 0
100.6
100.5
99.9
98.0
97.8
95.4
97.5
100.0
102.8
107.0
112.5
113.0
113.4
117.4
127.9
143.6
145.2
154.3
164.4
176.0
196.6
210.3
9^52
giio
10.91
12.34
12.80
13.47
13.62
15.24
16.78
16.52
16.48
18.21
18.76
19.44
20.29
21.10
21.87
23.58
26.43
27.57
30.14
32.98
34.65
35.82
36.95
41.71
49.30
52.62
57.57
62.16
69.27
79.14
84.00
g!i3
8^98
8 '.68
12.34
12.36
13.31
13.28
13.75
15.96
16.88
16.18
16.84
18.66
18.70
19.88
20.50
21.18
22.15
24.31
26.81
28.18
30.70
33.65
34.74
36.19
37.17
44.62
49.63
54.45
58.52
63.64
71.35
79.90
86.86
9.22
12.28
12.33
13.62
13.46
14.01
16.19
16.75
16.35
17.10
18.64
18.81
20.12
8.98
9.22
12.28
12.33
13.62
13.46
14.01
16.19
16.75
16.35
17.10
18.64
18.81
20.12
20.74
20.74
21.62
21.62
22.54
22.54
25.19
25.19
27.07
28.77
27.07
28.77
31.26
31.26
34.20
34.90
35.93
34.20
34.90
35.93
38.21
48.16
38.21
48.16
50.27
55.54
59.98
65.38
72.83
79.99
87.66
50.27
55.54
59.98
65.38
72.83
79.99
87.66
AVERAGE FOR PERIOD
32.82
29.26
32.26
31.30
28.29
33.24
31.39
28.36
34.21
31.93
27.34
34.20
31.02
28.22
34.39
30.48
29.06
34.93
33.54
30.45
30.86
33.35
28.55
32.26
31.84
28.64
33.24
31.14
28.21
34.51
32.47
28.96
32.72
39.99
34.32
41.31
42.53
39.90
45.10
47.58
55.65
62.42
73.78
73.51
91.55
104.87
103.86
102.98
114.70
140.74
159.60
158.94
170.88
197.98
237.74
291.00
315.98
348.42
41.24
35.16
40.24
40.26
41.69
46.17
47.82
53.98
62.02
75.01
74.35
92.42
105.15
103.13
104.14
116.65
139.88
159.53
159.52
173.76
201.52
244.75
297.68
306.42
357.31
40.39
35.26
40.74
41.31
42.16
45.30
48.18
54.64
64.06
74.94
74.52
93.96
107.83
101.22
106.02
115.40
142.47
164.83
158.88
173.20
203.11
252.58
296.47
324.35
360.38
40.62
35.07
40.50
40.97
42.58
45.12
48.91
55.26
65.42
75.80
73.56
95.40
107.10
100.38
105.56
116.57
145.34
168.28
161.93
175.04
208.07
254.35
303.10
326.37
349.27
40.01
36.04
40.17
40.65
42.90
45.16
48.45
55.66
66.65
74.33
74.63
96.66
106.32
100.98
106.78
119.32
150.63
169.02
160.27
178.03
208.89
257.97
297.47
325.84
358.67
38.09
35.74
41.08
41.08
43.17
44.10
48.65
57.15
68.95
75.05
77.93
94.18
106.30
102.38
113.33
120.90
149.53
163.26
158.80
185.00
210.25
261.07
306.64
328.40
356.78
41.96
37.05
37.42
40.94
40.56
43.38
44.74
50.28
58.69
69.02
72.68
92.97
100.00
104.62
102.29
114.30
125.77
152.38
162.62
163.56
185.15
213.98
270.06
317.03
336.29
40.95
35.11
39.23
41.71
40.36
45.33
46.51
52.42
61.21
71.72
72.16
92.31
101.97
104.01
103.29
115.14
133.88
157.50
159.83
169.42
192.47
230.48
278.75
312.21
347.78
40.54
34.91
40.76
41.37
41.25
45.52
47.86
54.76
62.83
74.58
74.13
92.64
105.95
102.74
104.38
115.58
141.03
161.32
159.11
172.61
200.87
245.02
295.05
315.58
355.37
39.57
35.62
40.58
40.90
42.88
44.79
48.67
56.02
40.76
35.67
39.50
39 . 99
40.68
35.45
39.79
41.59
40.58
45.66
46.60
53.35
61.38
72.83
73.12
91.34
102.92
101.86
104.85
115.25
135.94
161.95
159.34
170.05
191.76
235.12
280.68
312.48
353.20
NOTE: These series contain revisions beginning with 1977.
100
81.6
79.1
80.9
88.9
90.2
93.2
93.2
91.6
96.3
99.7
98.9
100 . 6
102.1
98.6
99.7
98.0
97.4
95.6
98.6
99.8
104.5
108.9
112.8
112.4
113.4
119.9
136.0
142.5
147.9
158.2
167.1
180.5
201.0
219.7
80.7
80.0
77.1
88.4
89.7
91.1
93.1
90.9
96.3
97.2
100.0
100 . 3
100.9
99.3
99.9
98.0
98.1
94.7
97.9
100.8
103.1
107.5
112.9
113.1
113.2
117.5
127.6
141.0
145.5
155.5
164.7
177.9
203.0
210.5
END OF PERIOD
69. MANUFACTURERS' MACHINERY AND EQUIPMENT SALES AND BUSINESS CONSTRUCTION
(ANNUAL RATE, BILLIONS OF DOLLARS)
EXPENDITURES
1953. ..
Annual
IV Q
AVERAGE FOR PERIOD
81.7
79.3
81.6
89.5
90.7
94.4
92.9
91.6
96.5
100.7
99.2
98 . 5
102.4
98.1
99.6
98.6
96.9
95.6
98.7
100.0
104.9
109.8
112.8
113.3
113.5
120.8
140.8
143.1
148.5
159.4
168.1
181.9
201.1
222.5
65. MANUFACTURERS' INVENTORIES OF FINISHED GOODS, BOOK VALUE, ALL MANUFACTURING INDUSTRIES
(BILLIONS OF DOLLARS)
1948 .
1949. ..
1950. ..
1951. . .
1952. ..
1953. . .
1954. ..
1955. ..
1956...
1957...
1958. ..
1959. ..
1960. ..
1961. ..
1962. . .
1963. ..
1964...
1965. ..
1966. ..
1967. ..
1968. ..
1969...
1970...
1971. ..
1972. ..
1973...
1974. ..
1975. ..
1976...
1977. ..
1978. ..
1979...
1980. ..
1981...
1982. . .
III Q
67.01
75.06
75.37
95.41
106.57
101.25
108.56
118.93
148.50
166.85
160.33
179.36
209.07
257.80
302.40
326.87
354.91
41.23
41.26
44.76
46.95
53.37
62.44
72.59
73.58
93.33
103.62
103.15
104.63
115.99
137.30
159.51
160.48
171.24
196.89
236.82
286.57
317.92
348.59
(SEPTEMBER 1982)
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
June
May
July
Aug.
70. MANUFACTURING AND TRADE INVENTORIES IN 1972
(BILLIONS OF DOLLARS)
1948. ..
1949. ..
1950. ..
1951. . .
1952. . .
1953. . .
1954...
1955. . .
1956. ..
1957. ..
1958. ..
1959...
1960...
1961. ..
1962...
1963. ..
1964...
78.19
83.20
81.47
78.66
83.50
81.28
91.15
79.15
81.87
92.20
101.55
108.39
107.88
106.04
111.49
115,77
113.70
114.80
122.43
121.67
126.42
132.00
1966. ..
170.49
1967. ..
1968. . . 177.83
1969. ..
185.29
193.40
1970. ..
171.34
178.17
186.45
194.16
155.26
172.16
178.24
187.06
194.46
202.08
209.47
221.20
225.48
225.58
235.70
247.15
261.05
264.08
262.33
202.22
210.32
221.67
223.40
226.48
236.44
248.26
261.76
263.78
263.33
202.15
210,86
223.00
221.87
227.53
237.08
250.48
262.18
263.95
263.10
1972...
1973. ..
1974. ..
1975. . .
1976...
1977...
1978...
1979...
1980...
1981...
1982. . .
Oct.
Nov.
Dec.
1 Q
79.15
80.69
83.52
81.87
83.16
83.81
92.20
101.55
108.39
107.88
106.04
111.49
115.77
113.70
114.80
122,43
121.67
126.42
132.00
137.68
145.98
155.26
172,16
178,24
187.06
194.46
198.26
202.15
210.86
223.00
221.87
227.53
237.08
250.48
262.18
263.95
263.10
96.53
101.96
110.18
106.38
107.55
113.70
116.20
112.46
117.55
123.34
121.81
128.21
133.09
139.31
148.00
159.65
173.22
181.08
189.35
195.41
200.24
203.86
213.23
225.10
218.37
231.12
239.78
253.79
264.81
264.67
265.92
11 Q
79.70
80.69
81.82
81.95
82.04
82.15
82.15
81.91
82.23
93.57
101.56
109.38
107.36
105.92
112.56
116.05
113.16
116.24
122.35
121.68
126.58
132.13
83.12
83.81
96.53
101.96
110.18
106.38
107.55
113.70
116.20
112.46
117.55
123.34
121.81
128.21
133.09
173.26
180.44
188.58
194.68
199.63
203.64
212.14
224.14
219.35
229.23
239.07
173.22
181.08
189.35
195.41
200.24
203.86
213.23
225.10
218.37
231.12
239.78
150.41
163.28
175.17
183.10
192.13
196.78
201.27
206.26
215.42
224.86
218.45
233.58
243,78
86.58
99.68
104.20
110.26
104.71
109.18
115.29
116.37
112.96
117.77
123.76
123.34
130.46
135.76
141.17
150.82
164.96
175.18
184.10
192.96
196.53
201.50
207.02
216.51
226.00
218.83
233.33
243.97
88.04
100.28
104.81
109.52
105.08
109.30
115.82
116.10
113.20
117.79
123.91
124.01
130.39
136.17
142.21
151.41
166.52
176.42
184.38
193.01
196.90
201.28
207.73
218.02
225.92
217.82
233.70
244.92
88.54
100.72
105.26
109.18
104.92
109.60
115.76
116.16
113.92
119.34
122.89
124.22
130.78
136.27
172.91
179.26
187.79
195.07
198.91
202.65
211.27
222.96
220.98
228.50
238.13
84.64
98.56
101.91
110.94
105.26
108.78
114.63
117.05
112.01
118.13
123.52
122.62
129.10
134.08
140.09
150.08
162.09
174.94
182.57
191.14
196.74
200.73
205.31
214.62
224.52
218.80
231.36
242.13
85.61
95.24
101.31
109.72
106.94
106.57
113.19
116.04
112.67
116.79
123.08
121.96
127.54
132.48
82.74
97.46
101.94
110.99
105.89
108.14
114.24
116.43
112.30
118.33
123.76
122.21
128.67
133.47
139.58
149.17
160.93
173.97
181.51
190.35
196.08
200.40
203.99
214.26
225.25
218.14
231.10
240.70
263.06
265.69
263.41
264.13
265.61
264.70
264.81
264.67
265.92
266.64
264.36
266.53
266.76
263.66
267.56
265.18
263.62
269.42
266.06
263.77
270.47
265.11
263.09
271.17
264.45
262.78
269.85
98.97
103.16
110.99
105.19
108.64
115.21
117.46
112,72
117.57
123.92
123.20
129.87
134.83
152.13
168.06
177.50
185.01
193.70
196.98
201.70
208.26
220.24
226.58
216.92
235.08
246.18
71. MANUFACTURING AND TRADE INVENTORIES, TOTAL BOOK VALUE, IN CURRENT DOLLARS
(BILLIONS OF DOLLARS)
1948...
1949. . .
1950. . .
1951...
1952. . .
1953. . .
1954...
1955...
1956...
1957. ..
1958. ...
1959. ..
1960. ..
1961. . .
1962. ..
1963...
1964. ..
1965. ..
1966. . .
1967...
1968. ..
1969. . .
1970...
1971...
1972. ..
1973. . .
1974. . .
1975. ..
1976. ..
1977...
1978. ..
1979. . .
1980...
1981. . .
1982...
47.52
53.30
49.66
62.26
70.72
48.24
53.33
49.63
63.74
70.63
74.01
74.19
48.83
53.06
50.07
65.27
70.62
74.64
75.73
73.55
80.27
87.85
87.67
75.44
73.82
74.45
87.14
92.92
94.43
96.18
101.24
106.02
112.46
121.76
138.27
146.26
157.07
170.00
179.16
188.35
204.63
236.83
286.94
290.10
320.86
353.97
400.95
448.84
485.57
81.33
88.05
87.92
87.44
93.96
94.21
96.76
101.56
106.40
112.99
123.24
138.88
147.12
158.47
171.03
180.14
188.99
207.04
240.06
286.24
292.39
323.65
357.08
405.37
453.13
490.19
75.12
81.75
88.21
87.44
87.89
94.73
93.68
97.41
101.78
106.82
114.28
124.42
139.69
147.70
159.73
171.72
181.47
189.84
209.37
244.39
285.27
294.60
326.64
362.01
408.50
457.28
492.23
49.20
49.36
52.41
51.87
51.06
50.37
66.65
70.43
75.37
74.74
74.52
82.84
88.52
86.65
89.07
94.74
93.68
97.56
101.88
107.39
114.89
125.44
140.21
148.85
160.79
173.01
182.49
191.11
211.60
247.28
285.19
297.02
330.05
366.95
413.82
463.64
494.07
50.11
51.42
51.67
67.87
70.05
75.69
74.42
75.02
68.65
70.23
76.17
51.06
51.05
51.40
69.10
54.71
69.91
77.19
91.33
95.90
93.87
95.72
94.32
99.67
103.72
108.86
118.48
131.49
142.52
152.82
165.51
176.41
185.91
196.15
221.40
265.89
285.30
307.87
338.98
379.97
432.40
473.12
509,96
98.81
99.19
102.33
107.78
115.58
127.02
140.61
150.23
162.26
173.00
183.63
192.81
214.50
252.06
284.04
299.54
332.29
370.19
417.99
465.88
497.74
102.80
108.25
116.44
128.72
140.89
151.04
163.18
174.09
184.10
193.45
217.17
256.96
283.58
303.60
334.21
373.40
422.32
467.34
501.38
103.23
108.48
117.48
130.06
141.40
151.57
164.36
175.34
184.84
194.08
219.39
262.00
284.09
306.24
335.93
376.18
428.98
469.95
504.74
95.31
53.23
69.53
91.18
98.31
86.08
89.58
51.92
73.24
76.98
84.96
89.42
85.59
93.75
83.51
88.51
51,49
50.81
69.99
76.96
73.70
76.24
84.52
88.83
85.74
74.04
75.69
84.04
88.58
85.94
90.48
95.52
93.66
Annual
IV Q
Hi Q
END OF PERIOD
79.43
83.52
101.45
107.90
108.30
105.32
111.29
115.81
114.03
114.40
121.58
122.29
125.56
131.50
90.43
101.52
107.67
108.65
105.25
110.22
116.00
114.54
114.03
120.33
122.35
124.95
131.11
136.69
Sept.
DOLLARS
50.89
69.53
70.80
77.41
73.17
77.39
85.63
89.88
85.95
90.94
95.88
94.72
100.39
104.28
110.02
118.88
132.64
143.09
153.60
166.83
177.07
186.84
197.76
223.40
271.29
286.69
312.03
342.91
383.42
433.76
475.83
515.39
52.34
50.56
56.38
69.77
71.58
76.99
72.85
78.33
86.05
81.91
81.28
81.91
81,28
85.61
88.54
100.72
105.26
109.18
104.92
109.60
115.76
116.16
113,92
119.34
122.89
124.22
130.78
136.27
143.29
152.13
168.06
177.50
185.01
193.70
196.98
201.70
208.26
220.24
226.58
216.92
235.08
246.18
259.67
264.45
262.78
269.85
88.54
100.72
105,26
109.18
104.92
109.60
115.76
116.16
113.92
119.34
122.89
124.22
130.78
136.27
143.29
152.13
168.06
177.50
185.01
193.70
196.98
201.70
208.26
220.24
226.58
216.92
235.08
246.18
259.67
264.45
262.78
269.85
98.97
103.16
110.99
105.19
108.64
115.21
117.46
112.72
117.57
123.92
123.20
129.87
134.83
141.40
150.41
163.28
175.17
183.10
192.13
196.78
201.27
206.26
215.42
224.86
218.45
233.58
243.78
256.17
265.18
263.62
269.42
END OF PERIOD
52.58
52.51
50.10
49.50
59.82
70.24
72.38
58.37
69.98
72.06
76.40
73.20
76.12
73.18
48.83
53.06
50.07
65.27
70.62
74.64
75.12
51.92
52.51
52.51
50.89
49.50
59.82
70.24
72.38
49.50
59.82
70.24
72.38
50.11
51.42
51.67
54.71
68.65
70.23
69.53
70.80
76.17
77.41
73.17
74.04
78.91
86.26
86.94
88.99
86.55
87.30
89.05
87.09
91.23
91.14
92.13
95.80
94.88
100.91
105.04
110.01
119.35
134.19
143,02
154.88
168.01
177.33
187.37
199.04
225.38
276.46
288.20
314.08
344.65
387.78
438.79
478.59
518.46
95.85
95.50
100.95
105.44
110.76
120.11
135.60
144.24
155.52
168.71
178.14
187.36
200.61
228.74
281.00
287.99
316.21
347.81
392.43
441.34
480.42
521.64
94.72
95.60
101.06
105.48
111.50
120.91
136.79
145.33
156.16
169.83
178.33
188.56
201.95
233.24
285.81
288.38
318.54
351.18
397.09
444.13
482.57
520.02
89.16
82.04
83.63
81.75
88,21
87.44
87.89
94.73
93.68
84.04
88.58
85.94
90.48
95.52
93.66
97.41
98.81
101.78
106.82
114.28
124.42
139.69
147.70
159.73
171.72
181.47
189,84
209.37
244.39
285.27
294.60
326.64
362.01
408.50
457.28
492.23
102.80
108.25
116.44
128.72
140.89
151.04
163.18
174.09
184.10
193.45
217.17
256.96
283.58
303.60
334.21
373.40
422.32
467.34
501.38
78. STOCKS OF MATERIALS AND SUPPLIES ON HAND AND ON ORDER, MANUFACTURING, IN CURRENT DOLLARS
(BILL'IONS OF DOLLARS)
85.63
89.88
85.95
90.94
95.88
94.72
100.39
104.28
110.02
118.88
132.64
143.09
153.60
166.83
177.07
186.84
197.76
223.40
271.29
286.69
312.03
342.91
383.42
433.76
475.83
515.39
76.12
73.18
76.12
73.18
79.52
87.30
89.05
87.09
79.52
87.30
89.05
87.09
92.13
92.13
94.72
95.60
101.06
105.48
111.50
120.91
136.79
145.33
156.16
169.83
178.33
188.56
201.95
233.24
285.81
288.38
318.54
351.18
397.09
444.13
482.57
520.02
94.72
95.60
101.06
105.48
111.50
120.91
136.79
145.33
• 156.16
169.83
178.33
188.56
201.95
233.24
285.81
288.38
318.54
351.18
397.09
444.13
482.57
520.02
END OF PERIOD
1948. . .
1949 . . .
1950. . .
1951
1952 .
1953...
1954...
1955. ..
1956. . .
1957. . .
1958. ..
1959. . .
1960. ..
1961. . .
1962...
1964...
1965...
1966. . .
1967. . .
1968. ..
1969. ..
1970...
1971...
1972. ..
1973...
1974...
1975. ..
1976...
1977...
1978. . .
1979...
1980. ..
1981. . .
1982. . .
51.59
42.38
37.21
51.76
41.32
46.24
50.35
40.55
37.77
46.65
50.27
39.56
40.18
41.54
44.04
38.32
42.05
43.36
37.95
42.26
51.86
51.78
52.16
39.84
38.90
46.83
49.83
38.98
42.34
38.79
39.28
47.80
49.22
38.44
42.73
51.88
37.19
50.93
36.43
49.69
35.74
40.28
47.84
48.47
38.20
43.24
41.09
41.74
50.01
42.17
41.22
37.86
39.76
48.06
48.97
38.05
42.74
40.55
37.83
42.06
41.42
38,19
41.26
41.07
44.71
44.31
51.40
44.38
52.17
52.83
58.43
59.66
68.58
73.98
75.58
77.99
78.22
77.85
61.32
68.41
73.44
75.42
78.42
77.91
77.09
89.56
119.85
141.91
128.93
138.27
151.22
186.31
215.40
222.47
91.88
123.10
140.20
128.82
139.08
152.53
189.57
218.26
223.24
68.35
74.01
76.26
77.82
78.28
78.32
94.85
125.43
137.31
130.33
140.36
154.63
193.05
219.78
222.90
37.96
44.96
52.90
62.29
68.54
74.04
77.06
77.68
77.91
78.64
97.09
128.15
134.11
130.88
141.50
156.63
197.29
219.24
224.21
45.33
53.36
63.29
68.57
73.90
77.87
77.45
77.07
79.42
99.69
132.19
132.22
131.93
142.84
159.81
198.72
217.27
225.85
40.10
38.29
45.81
53.79
64.66
69.09
73.32
78.04
77.34
75.79
79.96
101.98
135.89
130.70
132.88
143.43
162.93
201.71
215.72
226.40
NOTE: These series contain revisions beginning with 1977.
48.97
47.55
38.47
43.38
39.64
38.66
40.89
46.38
54.11
65.63
69.69
72.60
78.35
76,72
75.37
80.94
103.89
139.24
130.30
133.58
143.50
165.40
203.04
217.69
228.28
46.57
38.61
43.48
39.84
39.46
40.76
46.80
54.27
66.77
70.38
72.88
78.27
76.34
75.31
82.36
106.19
142.55
129.75
133.07
144.90
168.38
205.90
217.51
227.19
47.85
35.88
42.59
50.05
45.99
38.94
44.29
39,93
39.51
40.91
46.12
39.15
39.69
44.80
39.35
39.58
40.92
44.04
45.11
39.10
43.79
36.35
45.57
50.85
42.97
39.76
45.03
38.42
39.92
41.09
40.91
40.94
44.00
50.56
57.49
67.76
72.54
36.44
43.66
50.29
45.06
50.51
44.14
55.83
67.44
43.98
49.86
56.44
67.68
71.08
71.67
47.82
54.99
67.07
70.79
49.01
73.15
73.68
79.50
75.96
75.55
84.52
111.62
144.10
129.18
134.65
147.38
174.32
209.15
219.79
225.61
78.82
76.24
75.22
83.65
108.81
144.47
129.14
133.90
146.44
171.66
206.86
218.36
228.32
45.04
36.27
44.37
79.18
74.91
79.14
76.46
75.85
85.95
114.15
144.21
129.64
136.35
148.46
178.71
211.70
221.11
224.35
76.87
76.43
87.03
117.01
143.52
129.17
136.87
150.61
181.89
212.64
221.89
223.13
74.23
51.86
51,88
37.19
39.84
38.90
46.83
49.83
38.98
42.34
40.28
47.84
48.47
38.20
43.24
42.17
40.10
37.83
42.06
42.45
41.07
44.71
45.81
52.83
61.32
68.35
74.01
76.26
77.82
78.28
78.32
94.85
125.43
137.31
130.33
140.36
154.63
193.05
219.78
222.90
38.29
43.46
53.79
64.66
69.09
73.32
78.04
77.34
75.79
79.96
101.98
135.89
130.70
132.88
143.43
162.93
201.71
215.72
226.40
47.85
35.88
42.59
50.05
45.99
38.94
44.29
39.93
43.79
36.35
45.57
50.85
42.97
39.76
45.03
38.42
43.79
36.35
45.57
50.85'
42.97
39.76
45.03
38.42
39.51
40.91
41.09
41.09
40.94
44.00
50.56
57.49
67.76
72.54
40.94
44.00
50.56
57.49
67.76
72.54
43.68
47.82
54.99
67.07
70.79
73.15
78.82
76.24
75.22
83.65
108.81
144.47
129.14
133.90
146.44
171.66
206.86
218.36
228.32
74.91
79.14
74.91
79.14
76.87
76.43
87.03
117.01
143.52
129.17
136.87
150.61
181.89
212.64
221.89
223.13
76.87
76.43
87.03
117.01
143.52
129.17
136.87
150.61
181.89
212.64
221.89
223.13
(SEPTEMBER 1982)
101
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III Q
IV Q
16. CORPORATE PROFITS AFTER TAXES IN CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1 948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
. . .
. . .
. . .
.
..
. . .
..
22.7
20.6
19.0
25.3
20.7
22.4
19.6
26.3
27.6
28.4
20.5
28.9
29.6
24.7
30.4
31.5
38.2
44.2
49.8
46.1
48.1
49.6
41.8
45.7
56.2
73.8
82.4
69.4
100.7
114.9
129.6
161.2
172.9
161.6
23.9
18.2
22.7
21.6
19.6
22.4
20.2
26.7
28.1
27.3
20.9
31.3
27.4
26.0
30.4
33.2
8.1
5.9
9.8
6.1
9.3
8.0
1.6
7. 3
6.6
6.8
85.0
73.2
102.3
121.3
144.1
164.5
144.3
146.2
23.5
18.9
27.7
19.7
19.5
21.8
21.4
27.5
26.5
26.7
23.3
28.1
26.4
27.5
31.3
34.0
39.1
46.4
49.4
47.2
49. 5
46.2
42.1
50.8
59.0
76.6
90.9
88.3
103.5
126.6
149.9
169.6
155.9
150.8
22.7
18.5
30.4
21.1
21.4
17.1
23.0
28.5
28.0
24.4
26.7
27.4
25.2
29.6
32.2
34.8
38.7
48.9
48. 5
49.4
50.7
45.0
39.6
52.3
63.9
79.0
82.2
95.2
103.4
125.3
159.9
165.0
158.1
144.9
22. RATIO OF PROFITS (AFTER TAXES) TO TOTAL CORPORATE
DOMESTIC INCOME
(PERCENT)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978. .
1979
1980. . .
1981
1982
18.6
16.3
15.2
16.1
12.1
12.1
10.9
13.4
12.7
12.2
9.3
11.9
11.1
9.3
10.5
10.1
11.4
12.2
12.6
10.9
10.5
9.6
7.5
7.8
8.7
10.0
9.6
8.1
10.7
11.2
10.9
11.6
10.8
9.8
19.1
14.9
17.1
13.2
11.6
12.0
11.2
13.2
12.8
11.6
9.5
12.4
10.3
9.7
10.2
10.5
11.3
12.4
12.4
10.9
10.4
9.1
7.3
7.9
8.6
10.1
9.9
8.6
10.6
11.3
11.8
11.3
8.9
8.8
18.5
15.4
19.3
11.8
11.4
11.8
11.9
13.2
11.9
11.3
10.3
11.2
10.0
10.0
10.4
10.6
11.3
12.4
12.1
10.9
10.1
8.5
7.3
8.5
8.7
9.5
10.8
10.1
10.6
11.3
11.7
11.0
9.7
8.8
17.5
15.8
20.1
12.4
11.8
9.5
12.2
13.4
12.4
10.6
11.4
10.7
9.6
10.5
10.4
10.7
11.1
12.8
11.6
11.2
10.1
8.2
7.0
8. 5
9.1
9.6
9.7
10.3
10.4
11.2
11.8
10.6
9.9
8.1
68. LABOR COST (CURRENT DOLLARS) PER UNIT OF REAL GROSS
DOMESTIC PRODUCT, NONFINANCIAL CORPORATIONS
(DOLLARS)
1948
1949
1950.
1951
1952
1953
1954
1955
1956
1957
1958.
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
..
..
0.378
0.388
0.384
0.401
0.422
0.435
0.451
0.435
0.458
0.479
0.502
0.490
0.499
0.511
0.499
0.499
0.492
0.496
0.504
0.535
0.550
0.577
0.624
0.635
0.653
0.669
0.743
0.842
0.853
0.913
0.975
1.053
1.168
1.267
0.375
0.389
0.380
0.409
0.428
0.438
0.449
0.435
0.464
0.481
0.500
0.488
0.508
0.506
0.504
0.493
0.496
0.495
0.514
0.535
0.555
0.588
0.628
0.642
0.658
0.683
0.773
0.832
0.870
0.920
0.982
1.079
1.208
1.289
0.389
0.384
0.382
0.409
0.433
0.440
0.444
0.440
0.471
0.486
0.498
0.498
0.505
0.503
0.500
0.491
0.498
0.498
0.519
0.540
0.559
0.598
0.631
0.644
0.661
0.697
0.804
0.829
0.884
0.928
1.007
1.107
1.224
1.315
0.387
0.390
0.387
0.412
0.435
0.451
0.442
0.446
0.477
0.492
0.491
0.499
0.508
0.497
0.497
0.494
0.501
0.497
0.525
0.540
0.566
0.611
0.641
0.645
0.665
0.716
0.825
0.844
0.903
0.950
1.025
1.136
1.245
1.349
Annual
AVERAGE
23.2
19.0
25.0
21.9
20.2
20.9
21 .1
27.2
27.6
26.7
23.9
2; .9
27.1
26.9
31.1
33.4
38.5
46.3
49.4
47.2
49.4
47.2
41.3
49.0
58.9
76.6
85.1
81.5
102.5
122.0
145.9
165.1
157.8
150.9
18.4
15.6
17.9
13.4
11.7
11.4
11.6
13.3
12.4
11.4
10.1
11.6
10.2
9.9
10.4
10.5
11 .3
12.4
12.2
11.0
10.3
8.8
7.3
8.2
8.8
9.8
10.0
9.3
10.6
11.2
11.6
11.1
9.8
8.9
AVERAGE
0.382
0.388
0.383
0.408
0.430
0.441
0.446
0.439
0.467
0.484
0.497
0.494
0.505
0.504
0.500
0.494
0.497
0.497
0.515
0.538
0.558
0.594
0.631
0.641
0.659
0.692
0.786
0.837
0.878
0.928
0.998
1 .094
1 .211
1.305
I Q
III Q
II Q
IV Q
18. CORPORATE PROFITS AFTER TAXES IN 1972 DOLLARS1
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975 ....
1976
1977
1978
1979
1980
1981
1982 ... .
44.3
38.4
35.0
2.8
4.2
6.4
1.3
2.0
42.1
34.0
9.5
0.6
1.0
4.3
1.8
2.8
1.3
8.7
4.8
8.0
8.5
57.8
46.3
48.3
56.9
72.4
75.2
55.1
75.1
81.9
86.5
99.3
97.0
84.0
45.9
33.5
41.8
36.3
32. 1
36.1
32.2
42.5
42.6
39.3
29.9
43.8
37.9
36.0
41.6
45.0
51.1
60.8
64.2
57.7
59.2
55.2
45.5
49.3
57.0
74.1
74.9
57.0
75.8
85.1
94.2
99.0
79.4
74.2
43.8
34.9
49.7
33.0
32.1
35.0
34.2
43.1
39.6
38.3
33.3
39.1
36.5
37.9
42.8
46.0
52.3
61.1
63.3
58.6
58.9
52.5
45.5
52.4
58.8
72.8
77.2
67.5
75.7
87.3
96.2
99.8
84.2
75.4
41.9
34.2
53.4
34.9
34.9
27.4
36.7
44.3
41.2
34.8
37.8
38.2
35.0
40.8
43.8
47.0
51.7
64.2
61.4
60.7
59.7
50.5
42.3
53.5
63.6
73.8
67.0
71.7
74.8
84.9
100.7
95.0
83.7
71.2
55. PERSONAL CONSUMPTION EXPENDITURES, AUTOMOBILES
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
NOTE: Unless otherwise noted, these series contain revisions beginning with 1977.
'This series contains revisions beginning with 1973.
102
Year
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
....
.
.
6.0
7.3
10.4
12.1
9.2
12.3
11.1
14.2
14.0
15.4
12.3
15.3
16.4
13.6
17.0
19.8
21.7
25.6
27.0
22.9
28.0
30.7
27.8
32.8
36.1
44.2
34.2
34.6
48.5
56.9
56.4
66.8
68.0
71.6
5.5
9.3
10.9
10.3
9.5
12.2
11.6
16.0
13.2
15.0
12.0
16.4
16.9
14.2
18.0
20.6
21.9
24.8
24.0
25.5
28.5
30.0
29.0
33.7
37.4
43.0
34.4
34.8
49.4
57.0
65.3
62.4
50.9
63.0
6.3
9.6
13.2
9.3
7.5
12.0
10.8
16.9
12.9
14.1
11.9
17.1
17.1
14.9
17.7
20.6
23.0
25.4
24.8
25.0
30.6
30.5
29.0
34.3
38.6
41.0
38.0
40.5
49.9
58.0
64.8
66.8
58.9
71.5
6.9
9.6
12.3
8.8
10.9
11.5
11.8
15.7
14.1
14.4
12.7
14.8
16.0
16.3
19.2
21.1
20.6
25.4
24.6
24.6
30.1
30.0
23.3
35.7
40.9
36.8
32.6
43.0
52.1
57.9
66.0
63.2
64.7
62.8
Annual
AVERAGE
44.0
35.2
45.0
36.8
33.3
33.7
33.6
43.0
41.4
36.6
32.6
40.4
37.6
37.3
42.5
45.2
51 .6
61.2
63.4
58.7
59.1
54.0
44.9
50.9
59.0
73.3
73.6
62.8
75.4
84.8
94.4
98.3
86.1
76.2
AVERAGE
6.2
9.0
11.7
10.1
9.3
12.0
11.3
15.7
13.5
14.7
12.2
15.9
16.6
14.8
18.0
20.5
21.8
25.3
25.1
24.5
29.3
30.3
27.3
34.1
38.2
41.2
34.8
38.2
50.0
57.5
63.1
64.8
60.6
67.2
.
81. RATIO OF PROFITS AFTER TAXES WITH IVA AND CCADJ TO
(PERCENT)
TOTAL CORPORATE DOMESTIC INCOME
1948
1949
1950
1951
1952
1953
1954
1955
1956 . .
1957
1958
1959
1960
1961 ....
1962
1963
1964
1965
1966
1967
1968
1969. . . .
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
12.9
14.2
11.6
7.0
10.0
9.3
8.9
11.5
10.0
9.3
7.8
10.2
9.8
8.6
11.2
11.1
12.3
13.2
13.3
11.8
10.4
9.5
6.4
7.3
8.2
8.1
5.1
4.8
7.9
7.3
7.7
7.4
5.1
6.0
13.4
13.8
11.5
9.5
9.4
8.7
9.2
11.6
9.6
9.2
8.0
10.9
9.1
9.5
10.7
11.5
12.2
13.3
12.7
11.6
10.7
8.8
6.8
7.1
8.0
7.0
4.4
6.1
7.1
8.4
8.6
6.7
5.3
6.0
12.6
14.6
11.0
11.1
8.9
8.3
9.5
11.3
9.5
9.2
8.6
9.8
9.4
9.5
10.8
11.5
12.1
13.2
12.2
11.5
10.4
8.4
6.5
7.6
8.1
6.6
2.7
7.1
7.0
9.
8.
6.
5.
6.
13.9
12.6
11.1
10.5
9.6
7.4
10.1
10.9
8.9
8.7
9.4
10.0
8.9
9.9
11.3
11.3
11.9
13.3
12.5
11.6
10.1
7.3
6.1
7.9
8.1
6.7
3.5
7.3
6.8
8.2
8.1
5.2
5.1
5.9
AVERAGE
13.2
13.8
11.3
9.5
9.5
8.4
9.4
11.3
9.5
9.1
8.4
10.2
9.3
9.4
11.0
11.4
12.1
13.2
12.7
11.6
10.4
8.5
6.4
7.5
8.1
7.1
3.9
6.3
7.2
8.3
8.2
6.4
5.2
6.0
(SEPTEMBER 1982)
C. Historical Data for Selected Series—Continued
Year
I Q
II Q
111 Q
IV Q
79. CORPORATE PROFITS AFTER TAXES WITH IVA AND CCADJ IN
CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1970
1971. . .
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
16.1
18.1
14.7
11.9
17.3
17.7
16.2
22.9
22.3
22.1
17.6
25.1
26.6
23.2
32.2
34.4
41.1
47.5
52.5
49.5
47.8
49.0
37.0
43.3
53.2
62.1
52.2
46.0
77.5
80.4
97.7
111.2
100.0
108.8
17.2
17.1
15.6
16.0
16.1
16.8
16.8
23.8
21.7
22.4
17.9
27.9
24.7
25.6
31.7
36.0
41.0
48.9
51.1
49.0
50.7
46.9
39.2
43.6
53.2
57.1
47.2
55.6
73.0
94.5
109.4
109.0
98.9
105.9
16.5
18.0
16.4
18.6
15.7
16.0
17.5
23.8
21.7
22.3
19.8
25.0
24.9
26.4
32.3
36.5
41.4
49.2
50.0
49.7
50.8
45.7
37.8
46.4
55.5
58.2
35.0
65.6
73.6
107.3
112.9
109.7
95.6
110.7
18.3
14.9
17.5
18.0
17.7
13.7
19.5
23.7
21.0
20.5
22.5
25.9
23.7
28.0
34.4
36.8
41.2
50.7
52.1
51.4
50.6
40.7
34.9
49.4
57.8
59.7
38.8
72.3
72.9
96.1
116.6
98.9
93.4
112.3
86. NONRESIDENTIAL FIXED INVESTMENT, TOTAL, IN 1972
DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956 .
1957
1958
1959
I960 . . .
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 .
1972
1973
1974
1975
1976 .
1977
1978
1979 . .
1980
1981
1982
51.6
49.3
44.8
51.8
53.1
55.6
55.3
56.6
64.3
66.1
61.5
61.1
67.4
65.2
70.0
71.8
79.3
91.7
106.7
105.8
109.9
115.1
115.4
110.8
117.3
132.8
140.3
120.7
122.0
134.5
148.5
168.0
171.9
169.7
50.4
46.8
48.9
53.0
53.6
55.9
54.8
60.2
65.3
65.9
58.8
63.1
67.8
66.3
72.2
74.1
81.6
95.6
108.1
105.5
107.4
116.2
115.0
112.1
119.1
138.3
138.2
117.8
124.1
138.8
157.9
168.0
162.4
170.1
50.4
44.4
53.0
53.9
48.9
57.0
56.0
63.2
66.2
67.3
57.6
65.0
66.2
66.5
73.3
76.1
83.9
98.9
109.0
104.8
108.6
118.5
114.7
112.2
120.4
140.5
135.2
119.2
127.4
141.2
161.6
172.9
163.8
173.9
51.9
43.5
53.3
52.8
52.8
56.7
55.6
65.2
65.7
65.7
59.3
65.1
66.3
68.6
72. 5
78.2
86.0
103.4
108.2
106.3
112.3
117.4
110.3
113.6
127.2
140.7
129.1
119.6
128.9
146.5
165.2
170.9
166.4
174.2
88. NONRESIDENTIAL FIXED INVESTMENT, PRODUCERS' DURABLE
EQUIPMENT, IN 1972 DOLLARS
fANN. RATE, BIL. DOL. }
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
..
.
..
. . .
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
.
34.2
30.6
26.9
31.4
32.9
33.6
31.8
32.1
36.9
37.6
33.7
34.8
38.1
34.6
39.6
41.2
46.5
54.1
62.9
63.0
66.9
71.1
71.1
67.7
73.8
86.8
93.6
82.2
82.8
95.6
106.7
121.3
120.8
120.1
32.1
28.5
30.1
31.9
33.2
33.4
31.1
35.1
36.9
37.4
31.9
35.9
38.8
36.2
40.6
42.1
47.4
55.0
64.9
63.8
65.1
71.7
70.7
69.2
75.1
90.9
93.0
80.2
84.6
98.6
113.1
119.7
113.9
119.1
31.5
26.9
33.3
32.9
28.3
34.4
32.3
37.3
37.4
38.9
31.4
37.1
37.0
36.5
40.6
43.9
48.9
58.0
64.9
62.9
66.4
72.6
70.8
69.2
76.3
92.1
93.5
80.9
87.7
99.9
115.9
122.5
116.7
121.4
32.7
26.5
33.0
32.7
31.4
33.6
31.8
38.8
37.0
37.3
32.9
37.2
35.7
38.6
40.5
45.5
50.4
60.0
65.5
64.9
68.7
72.0
67.0
71.3
82.1
92.9
88.2
81.1
89.4
105.4
119.0
119.7
118.9
120.9
Annual
AVERAGE
17.0
17.0
16.0
16.1
16.7
16.0
17.5
23.6
21.7
21.8
19.4
26.0
25.0
25.8
32.6
35.9
41.2
49.1
51.4
49.9
50.0
45.6
37.2
45.7
54.9
59.3
43.3
59.9
74.2
94.6
109.2
107.2
97.0
109.4
AVERAGE
51.1
46.0
50.0
52.9
52.1
56.3
55.4
61. 3
65.4
66.2
59.3
63.6
66.9
66.7
72.0
75.1
82.7
97.4
108.0
105.6
109.5
116.8
13.8
12.2
21.0
38.1
35.7
19.3
25.6
40.3
158.3
169.9
166.1
172.0
AVERAGE
32.6
28.1
30.8
32.2
31.5
33.7
31.8
35.9
37.0
37.8
32.5
36.2
37.4
36.5
40.4
43.1
48.3
56.8
64.5
63.6
66.8
71.8
69.9
69.3
76.9
90.7
92.1
81.1
86.1
99.9
113.7
120.8
117.6
120.4
NOTE: Unless otherwise noted, these series contain revisions beginning with 1977.
'This series contains revisions beginning with 1975.
Year
IQ
II Q
III Q
IV Q
80. CORPORATE PROFITS AFTER TAXES WITH IVA AND CCADJ IN
1972 DOLLARS 1
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948.
1949
1950
1951
1952
1953
1954
1955. . .
1956. . .
1957
1958
1959
I960
1961
1962
1963
1964
1965. . .
1966. . .
1967
1968
1969
1970. .
1971
1972. . . .
1973
1974. . .
1975
1976
1977. .
1978
1979. . . .
1980
1981
1982. .
31.0
33.6
27.0
20.1
28.7
28.7
25.8
36.5
34.3
32.3
25.5
35.2
36.8
32.1
44.2
46.6
55.2
63.0
68.3
62.5
58.1
57.1
40.9
45.7
53.8
60.9
47.4
36.8
58.1
57.8
65.6
69.0
56.7
56.8
32.6
31.3
28.5
26.8
26.4
27.0
26.9
37.7
33.0
32.4
25.7
39.2
34.2
35.5
43.4
48.9
55.1
65.0
66.0
61.2
61.0
53.9
43.0
45.3
53.5
55.0
41.4
43.6
54.4
66.6
71.8
66.1
54.8
54.1
30.4
33.3
29.1
31.3
25.7
25.4
27.9
37.3
32.6
32.0
28.3
35.0
34.5
36.4
44.2
49.3
55.3
64.9
63.9
61.8
60.4
51.9
40.9
47.9
55.5
55.0
29.7
50.6
54.3
74.2
72.8
65.1
52.0
55.6
33.6
27.5
30.5
29.9
28.9
21.9
31.1
36.8
31.1
29.2
31.7
36.0
32.7
38.6
47.0
49.6
55.0
66.6
66.2
63.1
59.6
45.5
37.2
50.5
57.2
55.6
32.1
54.3
'53.1
65.4
73.9
57.5
49.8
55.5
87. NONRESIDENTIAL FIXED INVESTMENT, STRUCTURES, IN 1972
DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948. .
1949
1950
1951
1952
1953
1954
1955
1956
1957. . . .
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
17.4
18.7
18.0
20.4
20.2
22.0
23.5
24.5
27.3
28.5
27.9
26.3
29.3
30.6
30.4
30.6
32.8
37.6
43.8
42.8
43.0
44.1
44.2
43.2
43.5
45.9
46.6
38.6
39.2
38.9
41.9
46.6
51.1
49.5
18.3
18.3
18.7
21.1
20.4
22.5
23.7
25.0
28.4
28.5
26.9
27.2
29.0
30.1
31.6
32.1
34.3
40.7
43.2
41.7
42.4
44.5
44.3
42.9
43.9
47.3
45.2
37.6
39.4
40.2
44.7
48.2
48.5
51.0
18.9
17.5
19.7
21.0
20.6
22.6
23.7
25.9
28.8
28.4
26.2
28.0
29.2
30.1
32.7
32.3
35.1
40.9
44.1
41.9
2.1
5.9
3.9
3.0
4.0
8.3
1.8
8.3
9.8
1.3
45.7
50.4
47.1
52.5
19.1
17.1
20.4
20.1
21.4
23.1
23.7
26.4
28.8
28.3
26.4
27.9
30.6
29.9
31.9
32.8
35.6
43.4
42.7
41.5
43.6
45.4
43.3
42.3
45.2
47.9
40.8
38.5
39.5
41.2
46.2
51.2
47.5
53.3
89. RESIDENTIAL FIXED INVESTMENT, TOTAL, IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957 .
1958
1959
I960
1961
1962 .
1963
1964
1965
1966
1967
1968
1969
1970 . . .
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
25.4
22.3
30.3
31.4
26.0
28.0
27.3
35.2
32.1
29.9
28.2
37.1
37.3
32.9
36.4
39.5
45.6
42.9
42.4
32.3
41.9
45.6
40.6
47.8
62.4
66.9
52.8
39.4
49.4
56.7
60.9
60.7
53.4
49.6
26.9
22.0
33.2
27.1
26.5
28.2
29.0
35.7
31.9
29.2
28.2
38.4
34.1
33.1
38.0
42.6
43.4
43.6
39.8
36.1
43.0
45.0
38.4
52.6
63.4
63.7
50.1
40.3
50.3
61.2
63.7
59.6
42.0
47.3
26.0
23.9
35.0
25.3
26.2
27.1
30.8
34.9
31.2
28.9
30.2
37.6
32.9
34.9
38.3
43.1
42.1
42.5
37.7
38.4
43.3
43.2
40.4
56.0
63.7
61.1
47.4
43.1
49.9
62.8
63.1
59.5
44.0
42.9
24.1
26.9
33.3
25.5
27.6
26.9
32.7
33.3
30.7
29.0
33.5
36.4
32.7
36.3
38.2
44.7
41.4
41.9
33.0
41.5
44.0
40.5
44.
58.
65.
57.
42.
45.9
55.0
61.9
61.8
56.7
49.5
39.9
Annual
AVERAGE
31.9
31.4
28.8
27.0
27.4
25.8
27.9
37.1
32.8
31.5
27.8
36.4
34.6
35.6
44.7
48.6
55.2
64.9
66.1
62.2
59.8
52.1
40.5
47.4
55.0
56.6
37.6
46.4
55.0
66.0
71.0
64.4
53.3
55.5
AVERAGE
18.4
17.9
19.2
20.7
20.6
22.6
23.6
25.4
28.3
28.4
26.8
27.4
29.5
30.2
31.6
31.9
34.4
40.6
43.4
42.0
42.8
45.0
43.9
42.8
44.1
47.4
43.6
38.3
39.5
40.4
44.6
49.1
48.5
51.6
AVERAGE
25.6
23.8
33.0
27.3
26.6
27.5
29.9
34.8
31.5
29.2
30.0
37.4
34.2
34.3
37.7
42.5
43.1
42.7
38.2
37.1
43.1
43.6
41.0
53.7
63.8
62.3
48.2
42.2
51.2
60.7
62.4
59.1
47.2
44.9
(SEPTEMBER 1982)
103
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III Q
IV Q
500. FEDERAL GOVEE
(ANNUAL RAT E, BILLIONS OF DOLLARS)
1948
1949
1950. . .
1951. . .
1952. .
1953
1954
1955
1956
1957
1958
1959
1960
1961 .
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 .
1973
1974. . . .
1975
1976
1977
1978 . .
1979
1980
1981 .
1982 . .
13.6
0.6
-4.7
18.3
0.2
-4.5
-10.6
1.8
6.6
4.6
-7.5
-2.9
7.6
-4.3
-5.6
-1.9
-3.0
4.6
0.6
-12.9
-9.8
11.4
-1.3
-18.5
-12.8
-8.6
-4.7
-45.5
-56.3
-37.6
-48.4
-10.1
-39.7
-39.7
10.5
-3.1
7.8
8.4
-3.7
-6.2
-6.7
4.9
5.8
2.8
-11.9
1.6
4.2
-5.1
-4.1
1.9
-6.7
3.9
1.3
-13.2
-12.2
11.5
-13.1
-23.7
-19.8
-7.1
-10.6
-99.0
-48.2
-41.9
-26.6
-6.7
-67.5
-40.5
5.8
-4.1
16.6
1.0
-7.5
-5.8
-5.1
4.8
5.2
2.8
-12.1
-1.7
1.4
-3.9
-3.2
1.2
-2.4
-3.0
-3.2
-13.6
-2.6
6.5
-14.9
-23.7
-10.5
-2.6
-8.4
-66.6
-51.6
-52.1
-23.3
-18.0
-73.1
-58.0
511.
1948
1949
1950
1951
1952
1953
1954
1955. . . .
1956
1957
1958
1959
I960
1961
1962. . .
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
31.0
40.0
47.2
47.6
66.1
76.3
73.5
67.9
69.4
78.1
83.5
90.5
90.2
98.9
109.0
113.5
118.3
118.2
135.8
159.9
173.4
184.0
193.9
213.4
235.8
260.7
279.6
333.6
376.3
401.7
445.1
487.9
565.4
659.7
33.0
41.7
39.0
54.5
70.1
78.2
69.6
66.7
71.8
79.8
87.8
89.9
92.3
101.7
109.2
112.2
118.8
120.4
140.0
160.9
180.9
187.1
207.4
220.8
244.0
262.8
295.2
353.6
375.7
412.4
451.1
493.4
587.7
667.5
17.5
19.0
21.0
23.1
25.0
27.8
28.7
31.2
34.6
38.1
41.3
45.3
49.6
53.3
58.0
62.3
68.8
74.2
83.8
91.0
106.0
118.0
133.7
151.6
178.6
193.6
209.6
233.7
263.7
293.9
329.1
344.3
376.6
415.2
NOTE: These series contain revisions beginning with 1977.
104
IQ
39.0
41.4
40.4
67.9
73.6
77.4
67.6
69.0
74.2
81.0
93.0
91.9
95.7
104.4
112.8
116.8
118.0
130.5
151.8
168.9
185.1
192.9
210.3
225.9
259.4
271.2
317.6
374.0
399.9
440.6
482.4
539.6
639.9
727.4
18.4
20.0
22.0
24.1
26.4
2 7-. 9
29.8
32.8
36.2
39.3
44.4
47.8
51.1
55.7
60.0
65.6
71.6
77.7
88.2
98.6
111.9
126.1
140.4
159.9
192.6
199.8
218.5
249.4
280.0
308.4
336.9
366.3
403.3
421.5
34.9
41.3
40.8
57.8
71.1
77.1
69.8
68.1
71.9
79.6
88.9
91.0
93.1
101.9
110.4
114.2
118.2
123.8
143.6
163.7
180,5
188.4
204.3
220.6
244.3
264.2
299.3
356.6
384.8
421.1
461.0
509.7
602.1
688.2
1948. . . .
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960. . . .
1961
1962
1963
1964
1965
1966. . . .
1967
1968
1969
1970
1971
1972 .
1973
1974
1975
1976
1977
1978 . .
1979
1980 . .
1981
1982
17.7
19.5
21.3
23.4
25.4
27.4
29.0
31.7
35.0
38.5
42.0
46.4
49.9
54.0
58.5
63.2
69.5
75.1
84.8
93.6
107.3
120.2
135.4
153.0
178.3
195.0
211.4
237.7
267.8
297.7
327.6
352.0
385.9
416.8
III Q
IV Q
44.6
40.6
42.6
65.9
66.3
71.8
62.9
69.7
76.0
82.7
76.0
87.6
97.9
94.5
103.3
111.6
115.4
122.7
136.5
147.0
163.6
195.4
192.7
194.9
223.0
252.1
274.8
288.2
320.0
364.1
396.7
477.8
525.7
620.0
43.4
38.6
46.8
62.9
66.4
71.9
62.9
71.6
77.6
82.5
75.9
91.6
96.4
96.6
105.1
114.1
112.1
124.4
141.3
147.6
168.8
198.5
194.3
197.1
224.2
255.6
284.6
254.5
327.5
370.5
424.4
486.7
520.2
627.0
42.5
38.3
53.1
62.2
66.9
70.8
63.5
73.6
77.6
82.6
79.5
89.8
95.7
98.9
107.5
115.3
115.2
123.1
143.7
151.5
180.0
196.3
190.7
198.6
227.6
259.7
296.6
298.7
335.9
377.5
442.3
500.0
542.4
640.2
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
..
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981 . . .
1982
0.4
-0.1
-1.4
0.
-0.3
-0.4
-0.6
-1.6
-1.0
-0.7
-2.5
-1.7
0.2
-0.8
0.1
0.1
0.9
1.0
0.4
-1.2
0.2
0.
3.5
0.4
5.7
16.7
9.5
1.7
10.1
23.7
31.6
32.3
29.1
31.3
0.2
-0.8
-1.7
-0.6
-0.6
1.0
-1.0
-1.6
-0.9
-1.3
-2.4
-1.6
0.2
-0.1
0.5
0.5
0.6
0.4
0.9
-2.3
0.2
0.4
3.1
2.4
16.6
14.5
7.8
5.7
13.8
26.1
34.0
26.8
23.3
32.9
0.
-0.8
-0.8
-0.8
0.4
0.2
-1.4
-0.9
-0.7
-1.4
-2.9
0.7
0.
0.1
0.6
0.6
1.3
-0.8
1.1
-0.7
0.
2.0
1.0
3.3
9.9
11.5
5.7
7.7
17.4
32.0
25.7
30.9
27.1
33.5
0.1
-1.1
-0.9
-0.3
0.4
-0.1
-1.3
-0.9
-0.9
-2.0
-1.7
0.9
-0.1
-0.7
0.7
0.6
1.2
-0.7
-0.4
0.
-0.1
3.6
-0.2
4.2
21.8
ll'.O
4.2
6.8
25.0
30.4
29.8
31.6
.33.0
29.1
STATE AND LOCAL GOVERNMENT EXPENDITURES, NIPA
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964 . .
1965
1966
1967
1968
1969. . . .
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
16.5
18.9
21.8
23.2
24.8
26.8
29.0
32.2
34.7
38.5
42.6
46.7
48.1
53.2
57.0
60.9
66.4
71.6
80.6
91.3
102.1
114.5
126.6
145.0
160.6
175.2
193.6
222.3
247.8
261.0
285 . 1
308.7
345.3
378.6
17.2
19.8
22.7
23.7
25.7
26.8
29.7
32.8
35.5
39.4
43.7
47.0
49.5
53.4
57.5
61.7
68.2
73.8
82.9
93.3
105.8
117.6
130.6
149.2
162.0
179.1
201.8
228.0
249.9
267.8
295.1
317.5
353.3
382.2
18.0
20.7
22.6
24.2
25.4
27.5
30.7
33.1
36.2
40.2
44.9
47.0
50.5
54.4
58.3
63.5
69.2
76.7
85.2
95.4
108.9
120.2
136.4
151.9
166.0
183.3
208.5
235.9
252.1
272,0
302.1
325.4
362.2
386.9
Annual
AVERAGE
42.3
37.4
57.7
66.2
69.9
65.6
65.7
75.5
80.5
79.6
83.0
90.4
94.6
102.2
108.8
116.6
117.0
127.1
145.9
155.9
185.4
197.2
189.8
203.7
235.3
267.2
295.3
307.9
343.6
388.7
462.8
510.1
574.6
625.7
STATE AND LOCAL GOVERNMENT SURPLUS OR DEFICIT, NIPA
(ANNUAL RATE, BILLIONS OF DOLLARS)
512.
AVERAGE
II Q
501. FEDERAL GOVERNMENT RECEIPTS, NIPA
(ANNUAL RATE, BILLIONS OF DOLLARS)
510.
36.
42.
36.
61.
74.
76.6
68.7
68.9
72.4
79.8
91.6
91.5
94.2
102.8
110.7
114.1
117.6
126.1
146.9
165.1
182.6
189.8
205.7
222.3
238.1
262.3
305.0
365.3
387.4
429.6
465.6
518.0
615.4
698.2
18.0
19.9
21.8
23.4
25.8
27.7
29.3
32.2
35.5
38.8
42.0
47.7
50.5
54.5
58.9
64.1
70.5
75.9
86.3
94.7
108.9
122.2
137.5
155.2
175.8
194.8
214.2
243.7
269.5
304.0
327.8
356.3
389.3
420.3
8.3
-2.6
9.2
6.5
-3.7
-7.1
-6.0
4.4
6.1
2.3
-10.3
-1.1
3.0
-3.9
-4.2
0.3
-3.3
0.5
-1.8
-13.2
-6.0
8.4
-12.4
-22.0
-16.8
-5.6
-11.5
-69.3
-53.1
-45.9
-29.5
-16.1
-61.4
-60.0
AVERAGE
STATE AND LOCAL GOVERNMENT RECEIPTS, NIPA
(ANNUAL RATE, BILLIONS OF DOLLARS)
16.9
18.8
20.5
23.1
24.5
26.3
28.4
30.5
33.7
37.7
40.1
45.0
48.3
52.5
57.1
61.0
67.2
72.6
81.0
90.1'
102.3
114.5
130.1
145.4
166.3
191.9
203.1
224.0
258.0
284.7
316.7
341.0
374.5
410.0
Year
AVERAGE
3.3
-4.1
17.3
-1.7
-3.7
-11.8
-1.9
6.5
6.3
-1.3
-10.0
-1.5
-1.1
-2.2
-4.0
-0.2
-1.0
-3.4
-5.9
-13.0
0.3
4.3
-20.4
-22.2
-24.1
-4.0
-22.4
-66.1
-56.3
-51.8
-19.6
-29.6
-65.2
-101.7
502. FEDERAL GOVERNMENT EXPENDITURES, NIPA
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
..
1956 . .
1957
1958
1959
I960
1961
1962
1963
1964
1965 .
1966 . .
1967 . .
1968 . .
1969
1970
1971
1972
1973
1974. . . .
1975
1976
1977
1978
1979. . . .
1980
1981
1982
Annual
18.3
21.1
22.9
24.4
26.0
28.0
31.1
33.6
37.0
41.3
46.0
46.9
51.2
56.4
59.3
65.0
70.3
78.4
88.6
98.7
112.0
122.4
140.5
155.7
170.8
188.8
214.3
242.6
255.0
278.1
307.1
334.7
370.3
392.4
43.2
38.7
50.0
64.3
67.3
70.0
63.7
72.6
78.0
81.9
78.7
89.8
96.1
98.1
106.2
114.4
114.9
124.3
141.8
150.5
174.4
196.9
191.9
198.6
227.5
258.6
287.8
287.3
331.8
375.2
431.6
493.6
540.7
628.2
AVERAGE
0.1
-0.7
-1.2
-0.4
0.
0.
-1.
-1.
-0.
-1.
-2.
-0.
0.
-0.
0.5
0.5
1.0
0.
0.5
-1.1
0.1
1.5
1.9
2.6
13.5
13.4
6.8
5.5
16.6
28.0
30.3
30.4
28.2
31.7
AVERAGE
17.6
20.2
22.5
23.9
25.5
27.3
30.2
33.0
35.9
39.8
44.3
46.9
49.8
54.4
58.0
62.8
68.5
75.1
84.3
94.7
107.2
118.7
133.5
150.4
164.8
181.6
204.6
232.2
251.2
269.7
297.3
321.5
357.8
385.0
(SEPTEMBER 1982)
G. Experimental Data and Analyses
(Dec.) (Nov.)
Year
and
quarter
Implicit price
deflator, gross
nonfarm business
product1
(Index: 1977=100)
Unit labor cost,
all persons, nonfarm
business sector1
(Nov.)
123.6
127.2
129.9
132.7
127.8
132.5
134.7
136.8
136.5
138.9
142.3
145.5
139.0
141.9
145.1
149.0
(Mar.)
(Jan ) (July)
P T
NT TTf TTTTM 1 1 l:l:g{;?;H M I N I IN IN IN HST TTI
Components of BCD series 26—
ill
(Index: 1977=100)
1980
I Q....
II Q...
Ill Q..
IV Q...
i
Implicit price deflator, gross nonfarm
business product, Q
(index: 1977 = 100)
1982
I Q....
II Q...
Ill Q..
IV Q...
146.6
p!48.2
110
100
160
150
140
130
1981
I Q....
II Q...
Ill Q..
IV Q...
Ratio scale
160
150
140
130
120
Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)
120
110
100
90
151.6
P153.7
80
70
11
Inventory-sales ratios in 1972 dollars (ratio)Inventory-sales ratios in 1972 dollars 2
Year
and
month
Manufacturing
(Ratio)
Merchant
wholesalers
(Ratio)
Manufacturing
Retail trade
Arithmetic
scale
2.2
(Ratio)
2.1
1981
Jan.
Feb.
Mar.
Apr.
May.
June
1.98
1.97
1.98
1.97
1.99
1.95
1.34
1.34
1.36
1.37
1.39
1.42
1.36
1.37
1.36
1.38
1.40
1.41
July
Aug.
Sept
Oct.
Nov.
Dec.
1.98
2.01
2.04
2.12
2.15
2.14
1.39
1.43
1.41
1.44
1.43
1.46
1.43
1.42
1.44
1.48
1.48
1.47
2.0
1.9
1.8
1.6
1.5
1.4
1982
Jan.
Feb.
Mar.
Apr.
May.
June
2.19
2.14
2.13
2.16
r2.09
r2.08
1.49
1.42
1.40
1.45
1.37
rl.42
1.48
1.44
1.45
1.45
1.40
1.47
July
Aug.
Sept
Oct.
Nov.
Dec.
p2.08
(NA)
pi. 45
(NA)
pi. 47
(NA)
1.3
1.6
1.5
1.4
1.3
1969 1970 1971
1973 1974 1975 1976 1977 1978 1979 1980 1981 1982
NOTE:
The "r" indicates revised; "p", preliminary; and "NA", not available.
1
Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
105
G. Experimental Data and Analyses—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Jan ) (July)
P T
NTTN irrirr ni m iiT rir ill ill ill TIT in HI m m in in I M W I I I m m m \\\m\ m in
Arithmetic
scale
160
Changes in sensitive credit—
O
140
120
100
Month-to-month differences (ann. rate, bil. dol.; moving avg.—4-term
80
60
40
20
0
Month-to-month percent changes (ann. rate, percent; moving avg.—4-term1)
-20
20
10
m I u 1 1 1 1 t i t 1 1 1 i 1 1 1 mil n 11 n 1 1 1 1 1 n 1 1 1 1 1 1 M 1 1 1 1 1 1 1 1 1 1 1 1 1 h n 1 1 1 1 1 1 1 1 1 1 1 1 J M i n 1 1 1 1 1 1 1 1 1 1 1 1 n 1 n 1 1 1 1
1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
104.6
44.1
94.0
42.8
89.4
76.7
94.5
54.6
Month-to-month differences in sensitive credit--monthly data (annual rate, billions of dollars)
198019811982-
151.2
84.3
88.2
122.9
74.1
86.0
82.9
50.5
44.6
8.9
121.1
74.5
-43.2
132.4
73.3
22.9
101.7
r21.3
0.9
115.6
r-23.6
73.9
108.7
pl.l
94.1
110.6
84.9
43.0
Month-to-month differences in sensitive credit--smoothed data1 (annual rate, billions of dollars)
198019811982-
95.3
94.4
50.8
112.1
89.2
65.4
120.8
76.9
72.6
95.3
75.8
70.7
43.9
91.6
66.2
6.2
109.9
r60.2
-5.1
117.5
r40.0
13.0
112.6
pll.6
44.4
110.2
70.3
99.5
Month-to-month percent changes in sensitive credi t--rnonthly data (annual rate, percent)
198019811982-
14.2
7.5
7.3
11.4
6.5
7.0
7.6
4.4
3.6
0.8
10.6
6.0
-4.0
11.4
5.9
2.1
8.7
rl.7
0.1
9.8
r-1.9
6.8
9.2
pO.l
8.6
9.3
7.7
3.6
9.4
3.7
8.4
3.5
6.4
8.4
8.1
6.4
8.5
4.6
Month-to-month percent changes in sensitive credit—smoothed data1 (annual rate, percent)
198019811982-
9.1
8.5
4.2
10.6
8.0
5.4
11.3
6.8
6.0
6.6
5.8
4.0
8.0
5.3
0.6
9.5
r4.9
-0.5
10.1
r3.2
1.2
9.6
pO.9
4.1
9.3
NOTE: See "New Features and Changes for This Issue" on page iii of the August 1982 issue.
SOURCE: These series are compiled by the Bureau of Economic Analysis from data supplied by the Board of Governors
of the Federal Reserve System and the Federal Home Loan Bank Board.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
106
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Basic data
Series title
(and u n i t of measure)
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours) . . . .
5. Average weekly i n i t i a l claims,
State
unemployment insurance 1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars ( b i l l i o n d o l l a r s )
32. Vendor performance, companies receiving
slower deliveries (percent)
. .
. .
*12. Net business formation
( i n d e x - 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars ( b i l l i o n d o l l a r s )
29. New b u i l d i n g permits, private housing
units (index- 1967=100) .
.
36. Change in inventories2 on hand and on order in
1972 d o l . , smoothed ( a n n . rate, b i l . dol . ) .
92. Change in sensitive
crude materials
prices, smoothed 2 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43=10)
104. Change in total l i q u i d assets, smoothed 2
(percent)
106. Money supply (M2) in 1972 dollars
(billion dollars)
910. Composite index of 12 leading indicators 3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on n o n a g r i c u l t u r a l payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, b i l l i o n d o l l a r s ) . . . .
47. Industrial production, total
( i n d e x - 1967=100)
57. Manufacturing and trade sales in 1972
dollars ( m i l l i o n d o l l a r s )
920. Composite index
of 4 roughly coincident
indicators 3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment 1
(weeks)
. .
70. Manufacturing and trade inventories, total,
i n 1972 dollars ( b i l l i o n d o l l a r s )
. . .
62. Labor cost per u n i t of output, manufacturing
(index: 1967=100)
109. Average prime rate charged by banks
(percent)
. .
. .
72. Commercial and industrial loans outstanding
(million dollars)
95. Ratio, consumer installment credit to
personal income (percent)
930. Composite index of 6 lagging indicators 3
(index: 1967=100)
. .
May
1982
Net contribution to index
May
to
June
1982
Aug.
1982
July
1982
June
1982
June
to
July
1982
July
to
Aug.
1982
39.1
39.2
39.3
p39.0
0.09
0.09
-0.31
585
551
515
597
0.19
0.21
-0.51
r30.56
r30.06
r30.69
p28.68
-0.09
0.12
-0.42
30
38
37
40
0.31
-0.04
0.13
NA
NA
NA
NA
NA
NA
NA
11.39
11.24
rlO.79
plO.85
-0.03
-0.10
0.02
76.3
75.0
85.8
71.7
-0.05
0.43
-0.63
r-14.28
r-14.40
p-12.93
NA
-0.01
0.10
NA
rO.96
0.86
0.52
0.34
-0.05
-0.02
0.02
r-0.92
0.22
116.35
109.70
109.38
109.65
-0.39
rO.98
reo.98
re 0 . 94
el. 03
0.00
-0.14
0.35
829.3
825.2
r827.1
p834.6
-0.21
0.10
0.42
127.7
r!28.3
129.8
p!28.6
0.47
1.17
-0.92
90,166
r89,839
r89,662
p89,451
-0.29
-0.16
-0.24
rl,077.4
rl,070.3
3:1,069.5
pi, 069.0
-0.32
-0.04
-0.03
139.2
r!38.5
r!38.7
p!38.0
-0.14
0.04
-0.18
r!54 f 914
rl52,371
p!52,342
NA
-0.36
-0.00
NA
134.9
r!33.2
r!32.8
p!32.0
-1.26
-0.30
-0.60
14.6
16.5
15.6
16.2
-0.76
0.35
-0.35
r264.54
r265.18
p265.57
NA
0.11
0.07
NA
r230.7
r231.5
r231.0
p231.2
0.11
-0.07
0.04
16.50
16.50
16.26
14.39
0.00
-0.47
-5.45
210,300
r213,709
r214,499
p214,909
0.35
0.08
0.06
r!2.96
r!2.96
p!2.85
NA
0.00
-0.38
NA
184.2
r!83.6
r!82.5
p!72.1
-0.33
-0.60
-5.70
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the March 1979 BUSINESS CONDITIONS DIGEST (pp. 106107) for weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
x
This
2
This
3
series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.099; for the coincident index, -0.164; for the lagging index, -0.170.
*See "New Features and Changes for This Issue," on page iv of the July 1982 issue.
107
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns
45. Average weekly insured unemployment
rate(inverted)
Deviations
from
reference
peaks
Actual
data
for
current
cycle
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REF.
7/81
DATA YEAR
PEAK
SERIES 45
PERCENT
1
Actual
-0.5
0.0
+ 0.5
+ 1.0
2
3
4
0.1
0.2
0.4
0.8
3.2
3.3
3.5
3.9
8/81
9/81
10/81
11/81
5
6
7
8
1.0
0.9
0.9
1.2
4.1
4.0
4.0
4.3
12/81
1/82
2/82
3/82
9
10
11
12
1.5
1.5
1.6
1.4
4.6
4.6
4.7
4.5
4/82
5/82
6/82
7/82
• 3.5
13
1.5
4.6
8/82
• 4.0
• 5.0
+ 2.0
• 5.5
+ 2.5
1
2
3
4
5
6
7
8
-4.4
-6.9
-4.4
-4.1
151360
147362
151304
151814
12/81
1/82
2/82
3/82
• 6.0
9
10
11
12
-4.9
-2.1
-3.7
-3.7
150549
154914
152371
152342
4/82
5/82
6/82
7/82
+ 3.5
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
7/81
DATA YEAR
+ 4.0
48. Employee hours in nonagricultural
establishments
Percent
1
2
3
4
SERIES 48
ANN. RATE
BIL. HOURS
-0.0
170.96
8/81
-2.2 167.34
9/81
-0.8
169.73 10/81
-1.3 168.76 11/81
5
6
7
8
-1.4
-3.1
-1.2
-1.8
168.66
165.66
168.93
167.92
12/81
1/82
2/82
3/82
9
10
11
12
-2.2
-1.8
-2.6
-2.6
167.23
167.99
166.52
166.54
4/82
5/82
6/82
7/82
13
-2.9
166.12
8/82
+1
• 172
• 170
-3
0
+6
+12
+18
+24
• 166
1
2
3
4
SERIES 77
RATIO
0.03
1.71
0.04
1.72
0.09
1.77
0.10
1.78
8/81
9/81
10/81
11/81
5
6
7
8
0.10
0.14
0.08
0.07
1.78
1.82
1.76
1.75
12/81
1/82
2/82
3/82
9
10
11
12
0.09
0.03
0.06
0.06
1.77
1.71
1.74
1.74
4/82
5/82
6/82
7/82
For an explanation of these charts, see "How to Read Charts" on p. 107 of the August 1982 issue.
108
•160,000
• 155,000
-3
• 150,000
-6
H45.000
• 140,000
-12
77. Ratio, deflated inventories to sales,
mfg. and trade
Actual
D
+.25
• 1.90
+.20
+ .15
• 1.8
+ .10
• 1.75
+ .05
• 1.70
•00
Months from reference peaks
NOTE:
+3
• 168
• 164
-6
• 165,000
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM ACTUAL
7/81
DATA YEAR
PEAK
-1
-2
+6
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
7/81
DATA YEAR
SERIES 57
MIL. DOL.
-1.0 156707
8/81
9/81
-1.0 156711
-3.6 152649 10/81
-3.6 152494 11/81
Actual
data
for
current
cycle
Percent
• 3.0
• 4.5
+ 3-0
Deviations
from
reference
peaks
57. Manufacturing and trade sales,
1972 dollars
• 1.65
-.05
<
-.10
0
+6
+12
+18
Months from reference peaks
+24
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns—Continued
Deviations
from
reference
peaks
1
106. Money supply (M2), 1972 dollars
,
Actual
data
for
current
cycle
.•
|L,L,l|
D
1
2
3
4
5
6
1
Percent
8
—i+8
••"^^i
"""
•'•**
•' \
•
\
^V.
^M
\p*A
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF
AND
FROM ACTUAL
DATA YEAR
7/81
PEAK
Median
• 8PO
11
12
"
•
. ,
+ 4
198
W:
j J
9
10
-
+ 2
084Q
54U
*
13
MONTHS
FROM
REF.
PEAK
• 800
0.7
1.4
1.5
2.8
808.1
814.1
815.0
824.9
12/81
1/82
2/82
3/82
3.4
3.3
2.8
3.0
829.7
829.3
825.2
827.1
4/82
5/82
6/82
7/82
834.6
8/82
4.0
2
3
4
0.12
-0.05
-0.29
>730
7
8
• 760
9
10
11
12
-1.69 4/82
-0.92 5/82
0.22 6/82
0.96 7/82
-4
0.86
SERIES 108
RATIO
1.388
1.394
1.390
1.381
8/81
9/81
10/81
11/81
• 1.42
5
6
7
8
-0.019
-0.032
-0.029
-0.039
1.370
1.357
1.360
1.350
12/81
1/82
2/82
3/82
• 1.40
9
10
11
12
13
-0.041
-0.042
- 0.044
-0.041
-0.053
1.348
1.347
1.345
1.348
1.336
4/82
5/82
6/82
7/82
8/82
+ .04
+.02
• 1.38
-.02
• 1.36
-.04
• 1.34
-•06
+6
+12
+18
+24
+3
+2
+1
0
1973
914. Composite index of capital
investment commitments
|r
1 -0.001
2 0.005
3 0.001
4 -0.008
Actual
+4
8/82
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
7/81
DATA YEAR
108. Ratio, personal income to money
supply (M2)
+5
9/81
10/81
11/81
-0.38 12/81
-0.49 1/82
-0.76 2/82
-1.42 3/82
-2
D
CURRENT MONTH
AND
ACTUAL
DATA YEAR
1
Actual
data
92. Change in sensitive prices, smoothed 1
SERIES 106
BIL. DOL
804.9
8/81
0.3
798.9
9/81
-0.5
800.5 10/81
-0.3
805.6 11/81
0.3
SERIES 9 2 *
PERCENT
0.50
*820
I II F I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
• no
+5
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REF.
7/81
DATA YEAR
PEAK
1
2
3
4
SERIES 914
967=100
-0.1
102.4 8/81
-1.0
101.5
9/81
-3.4
99.0 10/81
-2.7
9 9 . 7 11/81
5
6
7
8
-3.1
-3.4
-4.4
-3.0
9
10
11
12
-2.1
-3.0
-3.2
-2.2
• 100
• 95
99.3 12/81
99.0 1/82
98.0 2/82
99.4 3/82
• 90
-15
100.3
99.4
99.2
4/82
5/82
6/82
7/82
8/82
Mill I I I II II I I I I II I I I I II I I I I II I
-6
Months from reference peaks
0
+6
+12
+18 +24
Months from reference peaks
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the August 1982 issue.
^his series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
109
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Historical
Series
data
descriptions
(issue date)
(*)
Tables
A
Accession rate manufacturing
2
Agricultural products, exports
604
Anticipations and intentions
Business expenditures, new plant and equipment
61
Business expenditures, new plant and equipment, Dl . . 970
Consumer sentiment, index ...
58
Employees, manufacturing and trade, Dl
974
Inventories, manufacturing and trade, Dl
975
New orders, manufacturing, Dl
971
Prices selling manufacturing, Dl
976
Prices selling retail trade Dl
978
Prices selling wholesale trade Dl
977
Profits, net, manufacturing and trade, Dl
972
Sales, net, manufacturing and trade, Dl
973
Automobiles
Expenditures, personal consumption
55
Imports of automobiles and parts
616
16
56
61
92
8/81
12/81
18
64
24
38
22
38
38
38
38
38
38
38
38
67
76
65
76
76
76
76
76
76
76
76
6/82
6/82
1/82
1/82
1/82
1/82
1/82
1/82
1/82
1/82
1/82
34
34
31
48
48
48
48
49
48
48
48
22
56
65
92
9/82
12/81
50
64
B
Balance of payments-See International transactions.
Bank loans to businesses, net change
Bank rates-See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from Federal Reserve
Bonds- See Interest rates.
Borrowing-See Credit.
Budget-See Government.
Building-See Construction.
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl
Business inventories-See Inventories.
Business loans-See Bank loans.
Business saving
72
112
15,35
32
73
72
3/82
3/82
43
43
93
94
33
33
72
72
1/82
1/82
45
45
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
6/82
7/81
6/82
6/82
12/81
12/81
3/82
35
24
34
34
44
32
32
295
46
82
5/81
37
C
Canada-See International comparisons.
Capacity utilization
Manufacturing (BEA)
83
Manufacturing (FRB)
82
Materials
84
Capital appropriations, manufacturing
Backlog
97
11
Newly approved
Newly approved Dl
965
Capital investment-See Investment, capital.
Capital investment commitments Cl
914
Cash flow, corporate, constant dollars .35
Cash flow corporate current dollars
34
Civilian labor force-See also Employment.
Employment
442
Employment as percent of population
90
Total
441
Unemployed
37
Coincident indicators, four
Composite index
920
Composite index, rate of change
920c
Diffusion index .
. . .
951
Ratio to lagging indicators, composite index
940
Commercial and industrial buildings, contracts awarded . . 9
Commercial and industrial loans outstanding
72
Commercial and industrial loans outstanding, net change .
112
CompensationCompensation, average hourly, all employees,
nonfarm business sector
345
Compensation, average hourly, all employees,
345c
nonfarm business sector, percent changes
Compensation of employees .
280
Compensation of employees, percent of national
income
. .
64
Compensation, real average hourly, all employees,
346
nonfarm business sector
Compensation, real average hourly, all employees,
346c
nonfarm business sector, percent changes
Earnings, average hourly, production workers,
private nonfarm economy
340
Earnings, average hourly, production workers,
340c
private nonfarm economy percent changes
Earnings, real average hourly, production
341
workers, private nonfarm economy
Earnings, real average hourly, production
341 c
workers, private nonfarm economy, percent changes .
348
Wage and 'benefit decisions, first year
Wage and benefit decisions, life of contract
349
Wages and salaries, mining, manufacturing, and
construction
53
20
20
20
64
64
64
8/81
8/81
8/81
25
25
25
24
24
37
66
66
75
10/81
10/81
10/81
33
33
33
11
29
29
60
70
70
11/81
8/82
8/82 i
15
37
37
4/82 •
3/82
4/82
3/82
20
20
20
20
11/81!
11/81 ;
2/82 '
11/81
3/82
3/82
3/82
15
87
1/82
56
87
82
1/82
5/81
56
56
30,47
70,83
4/81
56
49
88
1/82
56
51
18
51
18,51
89
62
89
62,89
10
39
36
11
23
15,35
32
60
74"
60
66
73
72
49
50
45
'
'
15*"
15
32
43
43
50
88
1/82
56
49
87
6/82
15
50
87
6/82
15
49
87
7/82
15
50
50
50
87
88
88
7/82
8/81
8/81
15
62
62
19
63
9/82
22
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Composite indexes
Coincident indicators
Four coinciders
.
Four coinciders rate of change
Ratio to lagging indicator index
Lagging indicators
Six laggers
Six laggers, rate of change
Leading indicators
Capital investment commitments
Inventory investment and purchasing
.
. .
Marginal employment adjustments
Money and financial flows
Profitability
Twelve leaders
Twelve leaders, rate of change
Construction
Building permits, new private housing
Contracts awarded, commercial and industrial bldgs. . .
Expenditures, plus machinery and equipment sales
Gross private domestic fixed investment
Nonresidential, as percent of GNP
Nonresidential structures, constant dollars
Nonresidential total constant dollars
Residential as percent of GNP
Residential total constant dollars
Housing starts
Consumer finished goods -See Wholesale prices.
Consumer goods and materials, new orders
Consumer goods, industrial production
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Consumer prices-See also International comparisons.
All items percent changes
Food, index
Food, percent changes
Consumer sentiment, index
Consumption expenditures-See Personal consumption
expenditures.
Contracts and orders, plant and equipment, constant dol. .
Contracts and orders, plant and equipment, current dol. . .
Corporate bond yields
Corporate profits-See Profits.
Costs-See Labor costs and Price indexes.
Credit
Bank loans to businesses, net change
Borrowing, total private
Commercial and industrial loans outstanding
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans delinquency rate
Mortgage debt net change
Crude materials-See Wholesale prices.
Current issue
(page numbers)
Series
number
Charts
920
920c
940
10
39
n
60"
930
930c
10
39
60
11/81
11/81
15
914
915
913
917
916
910
910c
11
11
11
11
11
10
39
60
60
60
60
60
60
11/81
11/81
11/81
11/81
11/81
11/81
11/81
15
15
15
15
15
15
29
9
69
13,25
23
24
67
66
67
6/82
3/82
9/82
35
32
28
248
87
86
249
89
28
47
25
25
47
25
25
83
67
67
83
67
67
4/81
9/82
9/82
4/81
9/82
3/82
51
51
51
51
51
35
8
75
12,21
22
64
65
8/82 ;
7/81
26
24
66
113
95
39
35
32
15,35
33
73
72
73
72
5/82
5/82
5/82
2/82
43
43
43
45
320
320c
322
322c
58
49
49,59
49
49
22
84,95
84,95
84
84
65
5/82
5/82
5/82
5/82
1/82
59
59
59
59
31
20
10
116
12,23
23
34
66
66
73
8/82 \
2/82
8/82 :
32
32
46
112
110
72
32
32
15,35
72
72
73
3/82
1/82
3/82
43
44
43
66
113
95
39
33
35
32
15,35
33
32
73
72
73
72
71
5/82
5/82
5/82
2/82
3/82
43 v
43
43
45
42
525
564
548
517
53
55
53
53
90
91
90
90
4/82
5/81
10/81
7/82
64
53
26
39
32
33
12,21
72
64
2/82
2/82
45
28
970
965
951
974
963
967
38
37
36
38
36
37
6/82
10/81
2/82
1/82
7/82
, 1/82
34
33
15
48
15
36
966
37"
962
975
952
950
964
36
38
36
36
37
971
968
976
978
977
960
972
973
961
38"
37
38
38
38
37
38
38
36
76
75
74
76
74
75
79
75
78
74
76
74
74
75
77
76
75
76
76
76
75
76
76
74
77
110
60
15
11/81
11/81
11/81
15"
!
D
Debt-See Credit.
Defense
Military prime contract awards
National defense purchases
New orders defense products
Obligations incurred
Deficit-See Government.
Deflators-See Price indexes.
Delinquency rate, consumer installment loans
Deliveries vendor performance
.
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees, manufacturing and trade
Employees on private nonagricultural payrolls
Industrial materials prices
Industrial materials prices components
Industrial production
Industrial production components
Initial claims, State unemployment insurance :
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders durable goods industries
.
. .
New orders, durable goods industries, components
New orders manufacturing
Prices, 500 common stocks
Prices selling manufacturing
Prices, selling, retail trade
Prices selling, wholesale trade .
Profits, manufacturing
Profits, net manufacturing and trade
. .
Sales net manufacturing and trade
Workweek mfg production workers
Workweek, mfg. production workers, components ....
Disposable personal income-See Income.
NOTE: CI, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
Tables
Historical Series
descriptions
data
(issue date)
(*)
7/82
24"
l'/82
1/82
2/82
2/82
8/82
48
15
15
26
1/82
2/82
1/82
1/82
1/82
8/81
1/82
1/82
7/82
is"
48"
36
48
49
48
4s"
48
15
.
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
descriptions
data
(issue date)
(*)
E
Earnings— See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Employee hours in nonagricultural
establishments
Employee hours in nonagricultural
establishments, rate of change
Employees in mining, mfg. and construction
Employees manufacturing and trade Dl
Employees on nonagricultural payrolls
Employees on private nonag payrolls, Dl
Employment ratio to population
Employment, total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments, Cl
Overtime hours, mfg. production workers
Participation rate, both sexes, 16-1 9 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed, full-time workers
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 1 5 weeks and over
Unemployment rate, insured, average weekly .
Unemployment rate total
Unemployment total civilian
Workweek mfg production workers
Workweek, mfg. production workers, components
Workweek, mfg. production workers, Dl
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.
2
441
16
51
61
89
8/81
4/82
18
20
48
17
61
7/82
15
48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
39
17
38
14,17
36
18
51
17
17
12,16
36
16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16
961
36"
7/82
7/82
1/82
7/82
7/82
3/82
4/82
7/82 .
3/82
2/82
1/82
8/81
11/81 ;
7/82 :i
4/82
4/82
4/82
4/82
3/82
8/81
4/82
4/82
4/82
4/82 '
3/82
3/82
3/82
3/82
3/82
7/82
62"
76
62
74
62
89
61
61
61
74
61
60
61
89
89
89
89
62
61
89
89
89
89
62
62
62
62
62,89
61
77
74
7/82
IB*"
48
15
15
20
20
19
19
18
18
18
15
15
20
20
20
20
20
18
20
20
20
20
;20
20
18
20
20
15
is"
F
Federal funds rate
Federal Government-See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, and money, Cl
Fixed investment-See Investment, capital.
Fixed weighted price index, NIPA
Fixed weighted price index, percent changes, NIPA
Food-See Consumer prices.
Foreign trade-See also International transactions.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports, merchandise, total exc. military aid
Exports of agricultural products
...
...
Exports of goods and services, constant dol., NIPA
Exports of goods and services, current dol., NIPA .....
Exports of goods and services, exc. military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports, merchandise, total
Imports of automobiles and parts
Imports of goods and services, constant dol., NIPA
Imports of goods and services, current dol., NIPA
Imports of goods and services, total
Imports of petroleum and products
Net exports, goods and services, constant dol., NIPA
Net exports, goods and services, current dol., NIPA ...
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves
119
34
2/82
72
46
94
213
917
33
40
11
72
80
60
1/82
5/81
11/81
45
49
15
311
311c
48
48
84
84
5/81
5/81
58
59
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
255
250
251
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
44
44
47
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
82
82
83
8/82
8/82
8/82
5/82
12/81
5/81
4/81
8/82
12/81
8/82
5/82
12/81
5/81
5/81
8/82
12/81
5/81
4/81
4/81
65
65
65
64
64
54
54
65
64
65
64
64
54
54
65
64
54
54
54
93
33
72
1/82
45
49
20
'
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State a n d local expenditures
. . .
State and local receipts
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal, constant dollars
Federal current dollars
Federal, percent of GNP
National defense
State and local constant dollars
State and local, current dollars
State and local percent of GNP
Total constant dollars
Total current dollars
63
8/82
25
502
501
500
. . . . 512
511
510
298
52
52
52
52
52
52
46
90
90
90
90
90
90
83
9/82
9/82
9/82
9/82
9/82
9/82
5/81
62
62
62
62
62
62
58
263
262
265
564
267
266
268
261
260
43
43
47
55
43
43
.47
43
43
81
81
83
91
81
81
83
81
81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
53
53
53
53
53
53
53
53
53
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Gross business product
Fixed weighted price index
Fixed weighted price index, percent changes
Gross domestic product labor cost per unit
Gross national product
GNP constant dollars
GNP constant dollars differences
GNP constant dollars percent changes
GNP, current dollars
GNP current dollars differences
GNP current dollars percent changes
GNP ratio to money supply
Goods output in constant dollars
Implicit price deflator
Implicit price deflator percent changes
Per capita GNP constant dollars
Gross private domestic invest.-See Investment, capital.
Current issue
(page numbers)
Series
number
Tables
Charts
311
3!1c
68
Series
Historical
descriptions
data
(issue date]
(*)
48
48
30
84
84
70
5/81
5/81
9/82
58
59
39
19,40
8/82
8/82
8/82
8/82
8/82
8/82
8/82
8/82
5/81
5/81
8/81
49
49
49
49
49
49
40
25
49
49
49
50
50b
50c
200
200b
200c
107
49
310
310c
217
31 "
20
48
48
40
63,80
80
80
80
80
80
71
63
84
84
80
46
60
17
17
61
61
21
1
16
12,16
961
36
61
61
77
74
, 7/82
28
29
89
249
25
13,25
25
47
67
67
67
83
3/82
6/82
9/82
4/81
35
35
51
51
310
310c
48
48
84
84
5/81
5/81
49
49
345
49
87
1/82
56
345c
280
64
50
45
30,47
87
82
70,83
1/82 !
5/81 i
4/81
56
56
56
39"
40
:
H
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Hours of production workers, manufacturing
Average weekly overtime
Average workweek
Average workweek, components
Average workweek Dl
Housing
Housing starts
...........
Housing units authorized by local bldg permits
Residential GPDI constant dollars
Residential GPDI percent of GNP
1
7/82
3/82
19
19
7/82
7/82
15
15
15"
1
Implicit price deflator GNP
Implicit price deflator GNP percent changes
Imports-See Foreign trade and International transactions.
Income
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector percent changes
Compensation of employees
Compensation of employees, pet. of nat'l. income
Compensation, real average hourly, all employees,
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Consumer installment debt, ratio to personal income ..
Corporate profits with IVAand CCA
Corp. profits with IVA and CCA, pet. of nat'l. income '.
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita, constant dol. . .
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
private nonfarm economy, percent changes
Earnings, real average hourly, production
workers, private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes .
Income on foreign investment in the US
Interest net
Interest net percent of national income
National income
Personal income constant dollars
Personal income, current dollars
Personal income, less transfers, constant dollars ......
Personal income, less transfers, constant dols. rate of chg.
Personal income, ratio to money supply
Proprietors' income with IVA and CCA
Proprietors' income with. IVA and CCA, percent
of national income
...
Rental income of persons with CCA
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions, first year ..............
Wage and benefit decisions, life of contract
Wages and salaries, mining, mfg., and construction ....
Incorporations new businesses
Industrial materials prices Dl
Industrial production - See also International comparisons.
Consumer goods
Durable manufactures
Nondurable manufactures
Total
Total components
Total Dl
346
49
88
1/82
' 56
346c
95
286
287
225
224
227
50
15,35
45
47
40
40
40
88
73
82
83
80
80
80
1/82
5/82
5/81
5/81
4/81
4/81
8/81
56
43
37
37
22
22
22
340
49
87
6/82
15
340c
50
87
6/82 !
15
341
49
87
7/82
15
7/82
8/82
8/82
5/81
5/81
4/81
9/82
9/82
9/82 '
9/82
8/82 .
5/81 '
15
65
65
57
57
55
22
22
22
:
341 c
652
651
288
289
220
52
223
51
51c
108
282
50
57
57
45
47
45
19
40
14,19
39
31
45
87
93
93
82
83
82
63
63
63
283
284
285
348
349
53
13
23
47
45
47
50
50
19
23
28
5/81
56
5/81
57
5/81
57
8/81 , 62
8/81 ' 62
9/82
,' 22
3/82
32
1/82
36
967
37
83
82
83
88
88
63
65
69
79
75
i/82
36"
67
65
63
63
63,94
78
75
7/81
7/81
7/81
7/81
7/81
24
24
24
24
24
76
75
73
74
47
966
.....
47c
Installment debt-See Credit.
Insured unemployment
5
Avg. weekly initial claims, unemploy. insurance ......
Avg. weekly initial claims, unemploy. insurance, Dl . . . 962
45
71 "
82
24
22
20
20
14,20,58
37
39
12,16
36
18
1
I
61
74
62
7/82
7/81
2/82
1/82 •
3/82
'
40 "
56
24"
18
18
18
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
111
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Interest, net
Interest, net, percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
. . ...
Intermediate materials-See Wholesale prices.
International comparisons
Consumer prices
Canada, index
Canada, percent changes
France, index
France percent changes
Italy index
Italy percent changes
Japan index
Japan, percent changes
United Kingdom, index
United Kingdom, percent changes
United States, index
United States, percent changes
West Germany index
West Germany percent changes .
Industrial production
Canada
France
Italy
Japan
OECD, European countries
United Kingdom
United States . .
West Germany
Stock prices
Canada
....
France
Italy
. .
Japan
United Kingdom
United States
West Germany
International transactions-See also Foreign trade.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports, merchandise, total exc. military aid
Exports of agricultural products
Exports of goods and services exc military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports merchandise total
Imports of automobiles and parts
Imports of goods and services total
Imports of petroleum and products
Income oh foreign investments in U S
Income on U S investments abroad
Inventories
Business inventories, change, constant dollars
Business inventories change current dollars
Business inventories, change, percent of GNP
Finished goods, manufacturers'
Inventories on hand and on order, net change ........
Inventories to sales ratio, mfg. and trade (deflated) ....
Inventory investment and purchasing Cl
Manufacturing and trade constant dollars
Manufacturing and trade current dollars
Manufacturing and trade, current dollars, change
Manufacturing and trade Dl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.,
change
Investment, capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl
Capital investment commitments, Cl .
.
Construction contracts, commercial and industrial
Construction expenditures, business and machinery
and equipment sales .
. . . .
Gross private domestic investment
Fixed investment, constant dollars . .
...
Fixed investment, current dollars ...
. . .
Inventories, business, change in-See Inventories.
Nonresidential, total constant dollars
Nonresidential, total, percent of GNP
Producers' durable equip., nonresid., constant dol. . .
Residential total constant dollars
Residential, total, percent of GNP
Structures, nonresidential, constant dollars
Total, constant dollars
Total, current dollars
New orders, capita! goods, nondefense, constant
dollars
New orders, capital goods, nondefense, current
dollars
. .. .....
Current issue
(page numbers)
Series
number
Charts
Historical
Series
data
descriptions
lissue date)
(*)
Tables
288
289
45
47
82
83
5/81
5/81
57
57
67
116
119
118
117
109
114
115
35
34
34
34
34
35
34
34
73
73
72
73
73
73
72
73
8/81
2/82
2/82
2/82
2/82
2/82
2/82
2/82
46
46
46
46
46
46
46
46
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Plant and equipment
Business expenditures new
Business expenditures new Dl
Contracts and orders constant dollars
Contracts and orders current dollars
Investment, foreign
Income on foreign investments in U.S. .............
Income on U S. investments abroad
Italy-See International comparisons.
Current issue
(page numbers)
Series
Charts
Tables
61
970
20
10
24
38
12,23
23
67
76
66
66
6/82
6/82
8/82
8/82
652
651
57
57
93
93
8/82
8/82
65
65
68
62
63
26
30
15,30
30
29
70
70
70
70
9/82
9/82
1/82
12/81
39
39
39
930
930c
952
3
10
39
36
16
60
11/81
11/81
2/82
8/81
15
910
910c
950
14
104
10
39
36
33
13,31
60
74*'
72
71
11/81
11/81
2/82
12/81
5/82
44
40
913
78
11
27
60
68
11/81
9/82
15
28
38
26
68
9/82
28
8
84
12,21
20
64
64
8/82
! 8/81
26
25
917
11
60
104
105
85
106
102
107
108
33
118
117
73,31
31
31
13,31
31
31
31
32
34
34
71
71
71
71
71
71
71
71
73
73
5/82
5/82
5/82
5/82
5/82
8/82
8/82
3/82
2/82
2/82
National defense-See Defense.
National Government-See Government.
National income-See Income.
New orders, manufacturers'
27
Capital goods industries, nondefense, constant dol
24
Capital goods industries nondefense current dol
Consumer goods and materials constant dollars
8
Contracts and orders, plant and equip., constant dol. . . 20
Contracts and orders, plant and equip., current dol. . . . 10
Defense products
. . . 548
7
Durable goods industries constant dollars
Durable goods industries current dollars
....
6
23
23
12,21
12,23
23
53
21
21
66
66
64
66
66
90
64
8/82
8/82
8/82
8/82
8/82
10/81
8/82
, 8/82
,
34
34
32
32
J
Japan-See International comparisons.
59"
96
96
95
95
96
96
95
95
95
95
84,95
84,95
95
95
4/82
4/82
4/82
4/82
4/82 .
4/82
4/82
4/82
4/82
4/82
5/82
5/82
4/82
4/82
68
68
68
68
69
69
69
69
68
68
59
59
68
68
723
726
727
728
721
722
47
725
58
58
58
58
58
58
14,20,58
58
94
94
94
94
94
94
63,94
94
12/81
12/81
12/81
12/81
12/81
12/81
7/81
12/81
66
66
66
66
66
66
24
66
743
746
747
748
742
19
745
59
59
59
59
59
59
59
96
96
96
96
96
96
96
7/81
7/81
7/81
7/81
7/81
6/79
7/81
70
70
70
70
70
36
70
667
622
618
602
604
668
606
620
612
616
669
614
652
651
57
57
57
56
56
57
56
57
56
56
57
56
57
57
93
93
93
92
92
93
92
93
92
92
93
92
93
93
8/82
8/82
8/82
5/82
12/81
8/82
12/81
8/82
5/82
12/81
8/82
12/81
8/82
8/82
65
65
65
64
64
65
64
65
64
64
65
64
65
65
30
245
247
65
36
77
915
70
71
31
975
78
26,42
42
47
27
13,26
27
11
15,27
27
26
38
27
68,81
81
83
68
68
68
60
68
68
68
76
68
4/81
4/81
4/81
9/82
8/82
10/81
11/81
9/82
9/82
9/82 1/82 .'
9/82
51
51
51
28
28
28
15
28
28
28
48
28
733
733c
736
736c
737
737c
738
738c
732
732c
320
320c
735
735c
59"
59"
59"
59"
59
49
49,59
.
L
Labor cost per unit of gross domestic product .........
Labor cost per unit of output manufacturing . . . .
Labor cost per unit of output, private business sector ....
Labor cost price per unit of nonfarm business
Labor force-See Employment and unemployment.
Lagging indicators, six
Composite index . . . . . . . . . . . . . . . . . . . . . . . . . . .
Composite index rate of change . ..............
Diffusion index
.. . .. . . .............
Layoff rate manufacturing . . .
. . . ........
Leading indicators, twelve
Composite index
. . . .........
Composite index rate of change ..................
Diffusion index
Liabilities of business failures
Liouid assets change in total
Loans-See Credit.
74"
61
is"
18
15
is"
M
Man-hours-See Employment and unemployment.
Marginal employment adjustments Cl
Materials and supplies on hand and on order, mfg. ......
Materials and supplies on hand and on order, mfg.
change
..
. . . . . .
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
Materials new orders for consumer goods and
Materials, rate of capacity utilization
Merchandise trade-See Foreign trade.
Military-See Defense.
Money and financial flows Cl
Money supply
Liquid assets change in total
.
Money supply M1
Money supply Ml percent changes
Money supply M2
Money supply M2 percent changes
Ratio GNP to money supply M1
Ratio persona! income to money supply M2
Mortgage debt net change
Mortage yields secondary market
Municipal bond yields
;
H/81
15
40
40
40
40
40
40
40
. 42
46
46
N
38
26
68
9/82
28
97
11
965
914
9
24
24
37
11
23
66
66
75
60
66
10/81
10/81
10/81
11/81
3/82
33
33
33
15
32
69
*24
67
9/82
28
243
242
42
42
81
81
4/81
4/81
51
51
86
248
88
89
249
87
241
240
25
47
25
25
47
25
42
42
67
83
67
67
83
67
81
81
9/82
4/81
9/82
9/82
4/81
9/82
4/81
4/81
51
51
51
51
51
51
51
51
27
23
66
8/82
26
24
23
66
8/82
26
Diffusion index
. .
. .
New orders manufacturing Dl
......
Nonresidential fixed investment, GPDI
Producers' durable equipment constant dollars
Structures constant dollars
Total constant dollars
Total percent of GNP
964
971
37
38
88
87
86
248
8
75
26
26
26
32
32
26
26
26
76
8/82
1/82
26"
48
25
25
25
47
67
67
67
83
9/82
9/82
9/82
4/81
51
51
51
51
517
721
53
58
90
94
7/82
12/81
66*'
49
62
358
370
370c
83
82
84
21
20
15,30
50
50
50
20
20
20
16
63
70
88
88
88
64
64
64
61
25
8/82
9/82 • 39
10/81 61
12/81
61
12/81
61
8/81
25
8/81
25
8/81
25
7/82
15
0
Obligations incurred Defense Department
OECD European countries industrial production
Orders-See New orders and Unfilled orders.
Output-See also Gross national product and
Industrial production.
Goods output constant dollars
Labor cost per unit of ...
Per hour nonfarm business sector
Per hour private business sector
Per hour, private business sector, percent changes
Ratio to capacity, manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity materials
Overtime hours, production workers, manufacturing ....
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
112
Series
Historical
escriptions
data
(issue date)
(*)
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
data descriptions
(issue date)
(*)
P
Participation rates, civilian labor force
Both sexes, 1 6-1 9 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
Durable goods, constant dollars
Durable goods, current dollars
Nondurable goods, constant dollars
Nondurable goods, current dollars
Services, constant dollars
Services current dollars
Total, constant dollars
Total current dollars
Total percent of GNP
Personal income-See Income.
Personal saving
Personal saving rate
Petroleum and products imports
Plant and equipment-See also Investment, capital.
Business expenditures for
...
.
Business expenditues for Dl
p
.
,
,
'
trill
P i t '
' T
1 '
t
t f
Price indexes
Consumer prices-See also International comparisons.
All items index
All items percent changes
Food index
Food percent changes
Deflators NIPA
Fixed weighted, gross business product, index
Fixed weighted, gross business product, pet. changes
Implicit price deflator GNP index
Implicit price deflator, GNP, percent changes
Industrial materials
Industrial materials components
Industrial materials Dl
Labor cost price per unit of
Sensitive prices change in
Stock prices-See also International comparisons.
500 common stocks
500 common stocks Dl
Wholesale prices
All commodities index
All commodities, percent change .... ..........
Consumer finished goods index
Consumer finished goods percent changes . .....
Crude materials index
.
. .
Crude materials percent changes
Intermediate materials percent changes
Producer finished goods index
p_.
...
f
h '
Prices, selling
Manufacturing Dl
Retail trade Dl
Who lesale trade Dl . . . . .
.......
Prime contracts military
Prime rate charged by banks
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDI
Production-See Industrial production and GNP.
Productivity
Output per hour nonfarm business sector
Output per hour private business sector
Output per hour, private business sector, pet. changes .
Profitability, Cl
Profits
Corporate after taxes constant dollars
. . .
Corporate after taxes current dollars
Corporate, after taxes, with 1 VA and CCA,
constant dollar
Corporate, after taxes, with 1 VA and CCA, cur. dot
Corporate, with 1 VA and CCA
Corporate, with 1 VA and CCA, pet. of nat'l. income . . .
Manufacturing and trade, Dl
.....
Manufacturing Dl
Per dollar of sales manufacturing
Profitability, Cl
Ratio, profits to corporate domestic income
Ratio, profits with 1 VA and CCA to corporate domestic
income
Proprietors' income with IVAand CCA
Proprietors' income with 1 VA and CCA, pet. of nat'l. inc. .
453
452
451
51
51
51
89
89
89
4/82
4/82
4/82
20
•20
20
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
9/82
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
50
50
50
50
50
50
50
50
50
50
292
293
614
46
46
56
82
83
92
5/81
5/81
12/81
58
58
64
61
970
20
10
90
24
38
12,23
23
18
67
76
66
66
62
6/82
6/82
8/82
8/82
3/82
34
34
32
32
20
320
320c
322
322c
49
49,59
49
49
84,95
84,95
84
84
5/82
5/82
5/82
5/82
59
59
59
59
311
311c
310
310c
23
48
48
48
48
28
5/81
5/81
5/81
5/81
1/82
58
59
49
49
36
967
26
92
37
29
13,28
84
84
84
84
69
79
75
70
69
1/82
12/81 i
3/82
36"
60"
19
968
13,28
37
69
75
7/82
2/82
36
36
330
330c
334
334c
331
331 c
332
332c
333
333c
26
48
48
48
48
48
48
48
48
48
48
29
85
85
86
86
85
85
86
86
86
86
70
5/82
5/82
6/82
6/82
5/82
5/82
6/82
6/82
6/82
6/82
12/81
59
59
60
60
60
60
60
60
60
60
976
978
977
525
109
38
38
38
53
35
76
76
76
90
73
1/82
1/82
. 1/82
4/82 •
2/82
48
49
48
64
46
88
25
67
9/82
51
358
370
370c
916
50
50
50
11
88
88
88
60
10/81
12/81
12/81
11/81
61
61
61
15
18
16
28
28
69
69
9/82
9/82
37
37
80
79
286
287
972
960
15
916
22
28
28
45
47
38
37
29
11
29
69
69
82
83
76
75
70
60
69
9/82
9/82
5/81
5/81
1/82
8/81
6/82
11/81
9/82
37
37
37
37
48
81
282
283
29
45
47
70
82
83
9/82
5/81
5/81
37
56
56
4
16
61
8/81
18
38"
15
37
Q
R
Rental income of persons, with CCA . . . .
.
Rental income of persons, with CCA, percent of national
income
.
. . .
284
45
82
5/81
57
285
47
83
5/81
57
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Reserves free
.
Residential fixed investment, constant dollars, GPDI
Residential fixed investment, percent of GNP .
Residential structures-See Housing.
Retail sales constant dollars
Retail sales, current dollars
Current issue
(page numbers)
Series
Charts
Historical Series
data descriptions
(issue date)
(*)
Tables
93
89
249
33
25
47
72
67
83
1/82
9/82
4/81
45
51
51
59
54
22
22
65
65
6/82
6/82
31
31
40
80
5/81
49
24
14,22
22
38
27
22
22
67
65
65
76
68
65
65
9/82
10/81
10/81
1/82
10/81 ,
6/82
6/82
28
28
28
48
28
31
31
46
46
46
46
46
82
83
82
82
83
5/81
5/81
5/81
5/81
5/81
37
58
58
58
58
13,28
69
3/82
60
13,28
37
27
69
75
68
7/82
2/82
9/82
36
36
28
26
68
9/82
28
114
115
34
34
72
73
2/82
2/82
46
46
91
60
5
962
3
15,18
17
12,16
36
16
62
61
61
74
61
3/82
3/82
2/82
1/82
8/81
20
19
18
18
18
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
62,89
61
4/82
4/82
4/82
4/82
3/82
8/81
20
20
20
20
20
18
44
45
43
18
18
18
62
62
62
3/82
3/82
3/82
20
18
20
96
25
21
21
64
64
10/81
9/82
26
26
107
108
32
31
31
12,21
71
71
64
8/82
8/82
2/82
40
40
28
330
330c
334
334c
331
331 c
332
332c
333
333c
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
85
85
86
86
85
85
86
86
86
86
69
61
5/82
5/82
6/82
6/82
5/82
5/82
6/82
6/82
6/82
6/82
3/82
7/82
59
59
60
60
60
60
60
60
60
60
60
15
961
36
77
74
7/82
15"
S
Salaries-See Compensation.
Sales
Final sales constant dollars
...
213
Machinery and equipment sales and business
construction expenditures
69
Manufacturing and trade sales, constant dollars
57
Manufacturing and trade sales current dollars
56
Manufacturing and trade sales, Dl
973
77
Ratio, inventories to sales, mfg. and trade
Retail sales, constant dollars
59
54
Retail sales current dollars
Saving
Business saving
.
295
298
Government surplus or deficit
290
G ross savi ng pr i vate a nd go ver n ment
292
Personal saving
293
Personal saving rate
Selling prices-See Prices, selling.
Sensitive prices, change in
92
State and local government-See Government.
Stock prices-See also International comparisons.
500 common stocks
19
968
500 common stocks, Dl
Stocks of materials and supplies on hand and on order . . . 78
Stocks of materials and supplies on hand and on order,
38
change
Surplus-See Government.
T
Treasury bill rate
Treasury bond yields
U
Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio
Initial claims, avg. weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, Dl . . .
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes, 16-19 years of age
Females, 20 years and over
Full-time workers
Males, 20 years and over
Total unemployed
Quit rate, manufacturing
Unemployment rates
1 5 weeks and over
Insured, average weekly
Total
. .
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries change in
United Kingdom— See International comparisons.
V
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio
Vendor performance
1
W
Wages and salaries-See Compensation.
West Germany-See International comparisons.
Wholesale prices
All commodities index
All commodities percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
Crude materials index
Crude materials percent changes
Intermediate materials index
Intermediate materials percent changes
.
....
Producer finished goods, index
Producer finished goods percent changes
Sensitive prices change in
Workweek of production workers, manufacturing
Workweek of production workers, manufacturing,
components
Workweek of production workers, manufacturing, Dl
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
reiijrred to by number:
Source 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4-Board of Governors of
the Federal Reserve System.
Bureau of Economic Analysis (Used by permission.
This series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).—Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).—
Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
(M).-Source 1
(10,39,60)
15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Commission; seasonal adjustment by Bureau of Economic Analysis
(29,70)
39. Percent of consumer installment loans delinquent 30
days and over (EOM).—American Bankers
Association
(33,72)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 92) (M).-Source
1
(11,60)
916. Composite index of profitability (includes series 19, 26,
18. Corporate profits after taxes in 1972 dollars (Q).Source 1
(28,69)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).—Source 2
(26,68)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over (M).-Sources 2 and 3
(18,62)
917. Composite index of money and financial flows (includes
series 104, 106, 110) (M).-Source 1
(11,60)
20. Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)
45. Average weekly insured unemployment rate, State
programs (M).-U.S. Department of Labor, Employment
and Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).-Source 3
(16,61)
46. index of help-wanted advertising in newspapers (M).—
The Conference Board
(17,61)
930. Composite index of six lagging indicators (includes
series 62, 70, 72, 91, 95, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
47. Index of industrial production, total (M).-Source
4
(14,20,39,58,63,78,94)
23. Index of spot market prices, raw industrial materials
(M).—Source 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).-Source
2
(23,66)
48. Employee-hours in
(M).-Source 3
80) (M).-Source 1
(11,60)
940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).—Source
1
(11,60)
1-B. Cyclical Indicators
1. Average workweek of production workers,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3 (16,61)
3. Layoff rate, manufacturing (M).-Source 3
(16,61)
4. Quit rate, manufacturing (M).-Source 3
(16,61)
5. Average weekly initial claims for unemployment
insurance, State programs (M).-U.S. Department of
Labor, Employment and Training Administration;
seasonal adjustment by Bureau of Economic
Analysis
(12,16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).-Sources 1, 2, and
3
(12,21,64)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by
114
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)
28. New private housing units started, total (M).-Source
2
(25,67)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26,42,68,81)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
32. Vendor performance, percent of companies receiving
slower deliveries (M).-Purchasing Management
Association of Chicago
(12,21,64)
nonagricultural
establishments
(17,39,61)
49. Value of goods output in 1972 dollars (Q).—Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
54. Sales of retail stores in current dollars (M).-Source
2
(22,65)
55. Personal consumption expenditures, automobiles (Q).—
Source 1
(22,65)
56. Manufacturing and trade sales in current dollars (M).Sources 1 and 2
(22,65)
57. Manufacturing and trade sales in 1972 dollars (M).Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).-Sources 1, 2, 3, and The Conference
Board
(17,61)
84. Rate of capacity utilization, materials (Q).—Source
4
(20,64)
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1(25,67)
62. Index of labor cost per unit of output, total
manufacturing—•atio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).-Sources 1
and 4
(15,30,70)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)
63. Index of unit labor cost, private business sector (Q).Source 3
(30,70)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).-Source
2
(27,68)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
66. Consumer installment credit (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)
(31,71)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).—
Source 1
(25,67)
92. Change in sensitive crude materials prices (PPI of crude
materials less ajricultural products) (smoothed) (M).Sources 1 and 3
(13,28,69)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).—Source 1
(30,70)
95. Ratio, consumer installment credit to personal income
(EOM).-Sources 1 and 4
(15,35,73)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(15,27,68)
71. Manufacturing and trade inventories, total book value,
in current dollars (EOM).-Sources 1 and 2 (27,68)
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(15,35,73)
73. Index of industrial production, durable manufactures
(M).-Source 4
(20,63)
74. Index of industrial production,
manufactures (M).-Source 4
nondurable
(20,63)
75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)
76. Index of industrial production, business equipment
(M).-Source 4
(24,67)
77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total (EOM).—
Sources 1, 2, and 3
(27,68)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).-The Conference Board (24,66)
102. Change in money supply M2 (M).-Source 4 (31,71)
104. Change in total liquid assets (smoothed) (M).-Sources
1 and 4
(13,31,71)
82. Rate of capacity utilization, manufacturing (Q).—Source
4
(20,64)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)
960. Diffusion index of net profits, manufacturing—about
600 companies (Q).-Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).—Source 1
and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172-186 industries (M).—
Source 3
(36,74)
964. Diffusion index of value of manufacturers' new orders,
durable goods industries— 34-35 industries (M).—
Sources 1 and 2
(37,75,77)
965. Diffusion index of newly approved capital
appropriations, deflated—17 manufacturing industries
(Q).-The Conference Board
(37,75)
966. Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)
967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).—Sources 1, 3, and
Commodity Research Bureau, Inc.
(35,75,79)
970. Diffusion index of business expenditures for new plant
and equipment, total— 22 industries (Q).—Source
1
(38,76)
107. Ratio, gross national product to money supply Ml
fm —Snnrrps 1 and
and 4
A.
(31,71)
(Q).-Sources
108. Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).—Source
4
(35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
112. Net change in bank loans to businesses (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,72)
113. Net change in consumer installment credit (M).-Source
4
(32,72)
115. Yield on long-term Treasury bonds (M).—U.S.
Department of the Treasury
(34,73)
(28,69)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
951. Diffusion index of four roughly coincident indicator
components (M).—Source 1
(36,74)
968. Diffusion index of stock prices, 500 common stocks—
52-82 industries ( M ) . - S t a n d a r d & P o o r ' s
Corporation
(37,75)
(28,69)
81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).-Source 1
(29,70)
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
105. Money supply Ml in 1972 dollars (M).-Sources 1,3,
and 4
(31,71)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
(Q).-Source 1
(34,72)
1-C. Diffusion Indexes
85. Change in money supply Ml (M).-Source 4
67. Bank rates on short-term business loans (Q).—Source
4
(35,73)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
119. Federal funds rate (M).-Source 4
116. Yield on new issues of high-grade corporate bonds
(M).-Citibank and U.S. Department of the
Treasury
(34,73)
117. Yield on municipal bonds, 20-bond average (M).-The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).—U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
971. Diffusion index of new orders, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972. Diffusion index of net profits, manufacturing and
trade—about 1,400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
973. Diffusion index of net sales, manufacturing and tradeabout 1,400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
974. Diffusion index of number of employees, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
975. Diffusion index of level of inventories, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
976. Diffusion index of selling prices, manufacturing—about
600 businessmen reporting (Q).-Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
115
TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade-about
400 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade-about 400
businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
income
223. Personal income
1
in
current
in current
dollars
dollars
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).—Source
1
(47,83)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
II-A. National Income and Product
220. National
1
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
(Q).—Source
(45,82)
(M).—Source
(40,63)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).—
Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).—Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).—Source
1
(44,82)
256.
Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).-Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262.
Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
265. Federal Government purchases of goods and services as
a percent of gross national product (Q).—Source
1
(47,83)
266. State and local government purchases of goods and
services in current dollars (Q).—Source 1
(43,81)
116
311. Fixed-weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).-Source
3
(49,59,84,95)
322. Index of consumer prices, food (M).-Source 3(49,84)
330. Index of producer prices, all commodities (M).-Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment
(M).Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities (M).—
Source 3
(48,85)
340.
Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonally (M).-Source 3
(49,87)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonally (M).—Source
3
(49,87)
280. Compensation of employees (Q).—Source 1
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).-Source
3
(50,88)
(45,82)
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
310. Implicit price deflator, gross national product (Q).Source 1
(48,84)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).Source 1
(42,81)
II-B. Prices, Wages, and Productivity
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q),-Source 1
(42,81)
298. Government surplus or deficit, total (Q).-Source
1
(46,83)
345.
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
267. State and local government purchases of goods and
services in 1972 dollars (Q).-Source 1
(43,81)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
(46,82)
293. Personal saving rate-personal saving as a percent of
disposable personal income (Q).-Source 1
(46,83)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
292. Personal saving (Q).-Source 1
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370.
Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
288. Net interest (Q).-Source 1
U. S. GOVERNMENT
PRINTING OFFICE : 1982
360-993/106
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
565. National defense purchases as a percent of gross
national product (Q).-Source 1
(55,91)
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
(M).-Source 3
(48,59,84,95)
447. Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
577. Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
453. Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
580. Defense Department net outlays, military functions and
military assistance (M).—U.S. Department of Defense,
OSD, Comptroller, Directorate for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
II-D. Government Activities
588. Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
604. Exports of agricultural products (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
452. Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3
(51,89)
510. State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
517. Defense Department gross obligations incurred (M).—
U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).-U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
548. Value of manufacturers' new orders, defense products
(M).- Source 2
(53,90)
557. Output of defense and space equipment (M).— Source
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
(57,93)
620. Merchandise imports, adjusted, excluding military
(Q).-Source 1
(57,93)
622. Balance on merchandise trade (Q).—Source 1 (57,93)
651. Income on U.S. investments abroad (Q).—Source
1
(57,93)
652. Income on foreign investments in the United States
(Q)-Source 1
(57,93)
667. Balance on goods and services (Q).-Source 1(57,93)
(54,91)
668. Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)
559. Value of manufacturers' inventories, defense products
(EOM).-Source 2
(54,91)
669. Imports of goods and services, total (Q).—Source
1
(57,93)
4
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
722. United Kingdom, index of industrial production (M).—
Central Statistical Office (London)
(58,94)
723. Canada, index of industrial production (M).—Statistics
Canada (Ottawa)
(58,94)
725. West Germany, index of industrial production (M).—
Deutsche Bundesbank (Frankfurt)
(58,94)
726. France, index of industrial production (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production (M).-Institute
Centrale di Statistica (Rome)
(58,94)
606. Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. General imports, total (M).-Source 2
721. Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
II-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)
728. Japan, index of industrial production (M).—Ministry of
International Trade and Industry (Tokyo)
(58,94)
732. United Kingdom, index of consumer prices (M).—
Ministry of Labour (London); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95)
733. Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
735. West Germany, index of consumer prices (M).—
Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis
(59,95)
736. France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737. Italy, index of consumer prices (M).—Institute Centrale
di Statistica (Rome); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
742. United Kingdom, index of stock prices (M).—The
Financial Times (London)
(59,96)
743. Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)
745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)
746. France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
(59,96)
747. Italy, index of stock prices (M).—Institute Centrale di
Statistica (Rome)
(59,96)
748. Japan, index of stock prices (M).—Tokyo Stock
Exchange (Tokyo)
(59,96)
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