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U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Robert G. Dederick, Under Secretary for Economic Affa(rs

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 a r e Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
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:
Ronald E. Kutscher, Acting Chairman, Bureau of Labor Statistics, U.S. Department of
Labor
John H. Auten, U.S. Department of the Treasury
Norman Frumkin, Office of Management and Budget
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, tn this report, cyclical indicators are classified both by economic process
and by their average turning 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

New F:eatures 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

BCII

iii

1
1
1
1
4
5
5
6

APRIL 1 9 8 3
Data Through March
Volume 23, Number 4

PART L
CYCLICAL INDICATORS
COMPOSITE INDEXES AND
THEIR COMPONENTS
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components

Chart
10
12
14
15

Table
60
—
—
—

B3
B4
B5
B6
B7

CYCLICAL INDICATORS
BY ECONOMIC PROCESS
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

16
19
21
23
26
28
31

61
63
64
65
68
69
71

Cl
C2
C3

DIFFUSION INDEXES
AND RATES OF CHANGE
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
i

36
—
39

74
77

Al
A2
A3
A4

-HL.

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.




II
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
AND PRODUCT
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

Table
80
80
81
81
82
82
82
83

48
49

84
87

Civilian Labor Force and Major Components

51

89

GOVERNMENT ACTIVITIES
Receipts and Expenditures
Defense Indicators

A2
A3
A4
A5
A6
A7
A8

Chart
40
41
,. . . 42
43
44
.. 45
46
47

52
53

90
90

56
57

92
93

58
59
59

94
95
96

,
„

..

PRICES, WAGES,
AND PRODUCTIVITY
Price Movements
Wages and Productivity

.
,

LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT

U.S. INTERNATIONAL TRANSACTIONS
Merchandise Trade
Goods and Services Movements
INTERNATIONAL COMPARISONS
Industrial Production
Consumer Prices
Stock Prices

„
,

PART III. APPENDIXES
A. MCD and Related Measures of Variability (January 1981 issue)
QCD and Related Measures of Variability (January 198/ issue)
B. Current Adjustment Factors {February 1983 issue)
C. Historical Data for Selected Series
..
D. Descriptions and Sources of Series (See "Alphabetical Index—Series Finding Guide'I
E. Business Cycle Expansions and Contractions (January 1983 issue)
F. Specific Peak and Trough Dates for Selected Indicators (January 1983 isxuel
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 made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark

Changes in this issue are as follows:

data, etc. Changes may

1. The current-dollar series on manufacturing and trade
sales and inventories (series 31, 56, and 71) have been revised by the source agency for the period 1967 to date. These
revisions reflect the following changes in the sales and inventories of merchant wholesalers: New annual estimates for
1978 and 1979, new 1980 and 1981 annual estimates derived from
the Annual Trade Survey, and new factors used to adjust the
data for seasonal and trading-day variations•

result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
other series, changes
in composition of
indexes, etc.

Further information concerning these revisions may be
obtained from the ILS. Department of Commerce, Bureau of the
Census, Business Division.
2. The series on productivity and costs (series 26, 48,
63, 345, 346, 358, 370, and the unit labor cost series shown
in appendix G) have been revised by the source agency. These
revisions reflect (a) new seasonal adjustment factors, from
1970 to date, for the labor input series from the Labor Force
Survey, and (b) new seasonal adjustment factors, from 1947 to
date, for the consumer price index, which is used to deflate
series 346, 358, and 370.
Further information concerning these revisions may be
obtained from the U.S. Department of Labor, Bureau of Labor
Statistics, Office of Productivity and Technology, Division
of Productivity Research.
(Continued on page iv.)
The May issue of BUSINESS CONDITIONS DIGEST is scheduled for
release on June 3.




in

3. Series 72, 101, 111, and 112 have been revised for the period 1980 to date.
These revisions reflect the application of new seasonal adjustment factors, from
1972 to date, to the balance outstanding on commercial paper issued by nonfinancial
companies. Revised data for the period prior to 1980 will be shown in a subsequent
issue.
Further information concerning this revision may be obtained from the Federal
Reserve Bank of New York, Public Information, 33 Liberty Street, New York, NY 10045.
4. The series on merchandise general imports (series 612) has been revised
by the source agency for the period 1982 to date. This revision reflects the
inclusion of data for mineral fuels, lubricants, and related materials in unadjusted
(rather than seasonally adjusted) form.
Further information concerning this revision may be obtained from the U.S.
Department of Commerce, Bureau of the Census, Foreign Trade Division.
5. Appendix C contains historical data for series 66, 85, 95, 102, 104-106,
108, 113, 331-334, 525, and 543.
6. Appendix G contains recession comparisons for series 30, 45, 46, 50, 76,
77, 910, and 920.




IV

Part I. CYCLICAL INDICATORS
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
This report is organized into two major parts.
which contain considerable variation due to the
Business cycles have been defined as sequences
Part I, Cyclical Indicators, includes about 150 time
number of working or trading days in each month. of expansion and contraction in various economic
series which have been found to conform well to
As used in this report, the term "seasonal processes that show up as major fluctuations in agbroad fluctuations in comprehensive measures of
adjustment" includes trading-day and holiday gregate economic activity—that is, in comeconomic activity. Nearly three-fourths of these are
adjustments where they have been made.
prehensive measures of production, employment,
individual indicators, the rest are related analytical
Most of the series in this report are presented in income, and trade. While recurrent and pervasive,
measures: Composite indexes, diffusion indexes,
business cycles of historical experience have been
and rates of change. Part ll f Other Important seasonally adjusted form and, in most cases, these
are the official figures released by the source definitely nonperiodic and have varied greatly in
Economic Measures, covers over 140 series which
duration and intensity, reflecting changes in
are valuable to business analysts and forecasters agencies. However, for the special purposes of this
report, a number of series not ordinarily published economic systems, conditions, policies, and
but which do not conform well enough to business
outside disturbances.
cycles to qualify as cyclical indicators. (There are a in seasonally adjusted form are shown here on a
seasonally adjusted basts.
One of the techniques developed in business
few exceptions: Four series which are included in
cycle research and widely used as a tool for analyzpart I are also shown in part II to complete the
ing current economic conditions and prospects is
systematic presentation of certain sets of data, MCD Moving Averages
the cyclical indicators approach. This approach
such as real GNP and unemployment.) The largest
Month-to-month changes in a series are often identifies certain economic time series as tending
section of part It consists of quarterly series from
dominated by erratic movements. MCD (months for to lead, coincide with or lag behind the broad
the national income and product accounts; other
sections relate to prices, tabor force, government cyclical dominance) is an estimate of the appro- movements in aggregate economic activity. Such
and defense-related activities, and international priate span over which to observe cyclical indicators have been selected and analyzed by
movements in a monthly series. (See appendix A.) NBER in a series of studies published between
transactions and comparisons.
It is the smallest span of months for which the 1938 and 1967. During the 1972-75 period, a new
The two parts are further divided into sections
average change in the cyclical factor is greater than comprehensive review of cyclical indicators was
(see table of contents), and each of these sections
that in the irregular factor. The more erratic a carried out by the Bureau of Economic Analysis
is described briefly in this introduction. Data are
series is, the larger the MCD will be; thus, MCD is 1 (BEA) with the cooperation of the NBER research
shown both in charts and in tables. Most charts
for the smoothest series and 6 for the most erratic. staff. The present format and content of part I of
begin with 1956, but those for the composite
MCD moving averages (that is, moving averages of BCD are based on the results of that study.
indexes and their components (part I, section A)
the period equal to MCD) tend to have about the
begin with 1948, and a few charts use a two-panel
same degree of smoothness for all series. Thus, a Section A. Composite Indexes and
format which covers only the period since 1971.
5-term moving average of a series with an MCD of 5 Their Components
Except for section F in part II, charts contain
wilt show its cyclical movements about as clearly
shading which indicates periods of recession in
as the seasonally adjusted data for a series with an
All cyclical indicators have been evaluated acgeneral business activity. The tables contain data
MCD of 1.
cording to six major characteristics: Economic
for only the last few years. The historical data for
The charts in this report generally include significance, statistical adequacy, consistency of
the various time series are contained in the 1977
centered MCD moving averages for those series timing at business cycle peaks and troughs,
Handbook of Cyclical Indicators.
conformity to business expansions and
in addition to the charts and tables described with an MCD greater than 4. The seasonally contractions, smoothness, and prompt availability
adjusted data are also plotted to indicate their
above, each issue contains a summary table which
(currency). A formal, detailed weighting scheme
shows the current behavior of many of the series. variation about the moving averages and to provide was developed and used to assess each series by all
observations for the most recent months.
Appendixes present seasonal adjustment factors,
of the above criteria. (See articles in the May and
measures of variability, specific cycle turning
November 1975 issues of B C D ) The resulting
Reference Turning Dates
dates, cyclical comparison charts, and other
scores relate to cyclical behavior of the series
information of analytical interest. An index appears
The historical business cycle turning dates used during the period 1947-70. This analysis produced
at the back of each issue. It should be noted that
in this report are those designated by the National a new list of indicators classified by economic
the series numbers used are for identification Bureau of Economic Research, Inc. (NBER). They process and typical timing at business cycle peaks
purposes only and do not reflect precise mark the approximate dates when, according to and troughs. (See tables on page 2 and text below
relationships or order. However, all series NBER, aggregate economic activity reached its relating to section B.)
considered as cyclical indicators are numbered in cyclical high or low levels. As a matter of general
This information, particularly the scores relating
the range 1 to 199.
practice, neither new reference turning dates nor to consistency of timing, served as a basis for the
the shading for recessions will be entered on the selection of series to be included in the composite
charts until after both the new reference peak and indexes. The indexes incorporate the best-scoring
Seasonal Adjustments
the new reference trough bounding the shaded area series from many different economic-process
Adjustments for average seasonal fluctuations have been designated.
groups and combine those with similar timing
are often necessary to bring out the underlying
The historical reference turning dates are subject behavior, using their overall performance scores as
trends of time series. Such adjustments allow for to periodic review by NBER and on occasion are weights. Because they use series of historically
the effects of repetitive intrayear variations changed as a result of revisions in important tested usefulness and given timing characteristics
resulting primarily from normal differences in economic time series. The dates shown in this (for example, leading at both peaks and troughs),
weather conditions and from various institutional publication for the 1948-1970 time period are those with diversified economic coverage and a minimum
arrangements. Variations attributable to holidays determined by a 1974 review. Since then, NBER has of duplication, composite indexes give more
are usually accounted for by the seasonal designated turning points for the 1973-1975 reces- reliable signals over time than do any of the
adjustment process; however, a separate holiday sion and the 1980 recession.
individual indicators. Furthermore, much of the
METHOD OF PRESENTATION




1

Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
N. Economic
Xprocess
\
Cyclical
Timing

\
N.

LEADING (U
IN^DlCA'rORS
^J
W i\ u
^
111

v r i

J

(62 series)

ROUGHLY
COINCIDENT^)
INDICATORS
(23 series)

LAGGING (Lg)
INDICATORS
(18 series)

TIMING
UNCLASSIFIED
(U)

IV.

II.

EMPLOYMENT

Ml.

PRODUCTION

CONSUMPTION, FIXED
TRADE,
CAPITAL
ORDERS, A N D
INVESTMENT
DELIVERIES
(18 series)
(13 series)

AND

AND

UNEMPLOYMENT
(18 series)

INCOME
(10 series)

Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)

Capacity
utilization
(2 series)

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)

Comprehensive
employment
(1 series)

Comprehensive
output and
real Income
(4 series)
industrial
production
(4 series)

Consumption
and trade
(4 series)

V.

VI.

INVENTORIES

PRICES, COSTS,
A N D PROFITS
(17 series)

MONEY
A N D 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)
Bank reserves
(2 series)
Interest rates
(1 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)

Trade
(1 series)

INVENTORY
INVESTMENT
(9 series)
Inventory
Investment
(4 series)
Inventories on
hand and on
order
(1 series)

(8 series)

VU.

Velocity of
money
(2 series)
Interest rates
(2 series)

Unit labor costs
and labor share
(4 series)

j merest rates
(4 series)
Outstanding
debt
(3 series)

Commodity
prices
(1 series)
Profit share
(1 series)

Interest rates
(1 series)

V.

VI.

INVENTORIES
INVENTORY
INVESTMENT
(9 series)

PRICES,COSTS,
A N D PROFITS
(17 series)

VII.
MONEY
A N D CREDIT
(26 series)

Inventory
Investment
(4 series)

Stock prices
(1 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 i*rl©*)
Velocity of
money
(1 series)

Unit tabor costs
and tabor share
(4 series)

Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)

Inventories on
hand and on
order
(4 series)

Business
Investment
commitments
(1 series)

IV,

AND

B. Timing at Business Cycle Troughs
x. Economic
\Proce<s
CyclicalV
Timing
\

LEADING (LJ
INDICATORS
(47 series)

KUUunLY

COINCIDENT^)
INDICATORS
(23 series)

LAGGING (Lg)
INDICATORS
(40 series)

II.

111

AND

AND

PRODUCTION
INCOME
(10 series)

CONSUMPTION, FIXED
CAPITAL
TRADE,
ORDERS, A N D
INVESTMENT
DELIVERIES
(18 series)
(13 series)

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)

Marginal
employment
adjustments
(2 series)
Comprehensive
employment
(4 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)

1.

EMPLOYMENT
UNEMPLOYMENT
(18 series)

Marginal
employment
adjustments
(X series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)

TIMING
UNCLASSIFIED
(U)
(1 series)




AND

inventories on
hand and on
order
(5 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
wefil-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.

Section B. Cyclical Indicators by Economic Process
This section covers 111 individual time series,
including the 22 indicators used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19,15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peaks and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,

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
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and for four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.

Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
This part is divided into six sections which cover in the physical volume of inventories held by
a wide range of quarterly and monthly time series private business. The former include all private
measuring various aspects of economic activity. purchases of dwellings, whether purchased for
Some of these series are very comprehensive, tenant or owner occupancy. Net purchases of used
pertaining to the U.S. economy as a whole, others goods are also included.
Government purchases of goods and services
have to do with particular sectors or markets, and
still others relate to U.S. international transactions (A4) is the compensation of government employees
or to selected foreign countries. The represented and purchases from business and from abroad. It
variables include incomes, outputs, and excludes transfer payments, interest paid by
expenditures; prices, earnings, and productivity; government, and subsidies. It includes gross
labor resources; government: receipts, investment by government enterprises but excludes
expenditures, arid defense-related activities; ex- their current outlays. It includes net purchases of
ports and imports; and selected indicators for a few used goods and excludes sales and purchases of
land and financial assets.
key foreign countries.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
Section A. National Income and Product
of the national production; imports are not, but are
The national income and product accounts, included in the components of GNP and are
compiled by BEA, summarize both receipts and therefore deducted. More detail on U.S.
final expenditures for the personal, business, international transactions is provided in section E.
foreign, and government sectors of the economy.
National income (A6) is the incomes that
Section Al shows the gross national product, originate in the production of goods and services
final sales, and personal and disposable personal attributable to labor and property supplied by
income. The four major components of the gross residents of the United States, Thus, it measures
national product—personal consumption the factor costs of the goods and services proexpenditures, gross private domestic investment, duced. It consists of the compensation of
government purchases of goods and services, and employees, proprietors' income, rental income of
net exports of goods and services—are presented in persons, corporate profits, and net interest.
sections A2 through A5. Most of the series in
Saving (A7) is the difference between income
section A are presented in current as well as and expenditures during an accounting period.
constant dollars. There are also a few per capita Total gross saving includes personal saving,
series. The national income and product accounts, business saving (mainly undistributed corporate
briefly defined below, are described more fully in profits and capital consumption allowances), and
the Survey of Current Business, Part I, government surplus or deficit.
January 1976.
Shares of GNP and national income (A8).—The
Gross national product (GNP) is the market major expenditure components of GNP
value of final goods and services produced by the (consumption, investment, etc.) are expressed as
labor and property supplied by residents of the percentages of GNP, and the major income
United States, before deduction of allowances for components of national income (compensation of
the consumption of fixed capital goods. It is the employees, corporate profits, etc.) are expressed as
most comprehensive measure of aggregate percentages of national income,
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated Section B. Prices, Wages, and Productivity
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
The important data on price movements include
all sources. It is the sum of wage and salary the monthly consumer and producer price indexes
disbursements, other labor income, proprietors' and their major components. Based largely on
income, rental income of persons, dividends, these series are the quarterly price indexes from
personal interest income, and transfer payments, the national income and product accounts, notably
less personal contributions for social insurance.
the GNP implicit price deflator (with weights
Disposable personal income is the personal reflecting the changing proportions of different
income available for spending or saving. It consists expenditure categories in GNP) and the fixedof personal income less personal taxes and nontax weighted price index for the gross business product. Data on both levels and percent changes are
payments to government.
Personal consumption expenditures (A2) is presented for the period since 1971.
The group of series on wages and productivity
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and consists of data on average hourly earnings and
the value of food, fuel, clothing, rent of dwellings, average hourly compensation (including earnings
and financial services received in kind by in- and other benefits) in current and constant dollars,
dividuals. Net purchases of used goods are also in- output per hour of work in the business sector, and
rates of change for most of these measures.
cluded.

Part II. OTHER IMPORTANT ECONOMIC
MEASURES

4



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-1" 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, o r -




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.

fable 1. Summary of Recent Data and Current Changes for Principal Indicators
Basic data1

Timina

Series title

classification 3

Unit
of

Percent change

tei.

Average

measure
1981

1982

3dQ
1982

4th Q
1982

1st Q
1983

Jan.
1983

Feb.
1983

Mar.
1983

Feb
to

Feb.
1983

Mar.
1983

to

to
4th Q

mi

4th Q
to
1st Q
1983

I. C Y C L I C A L I N D I C A T O R S
A. Composite Indexes
910. Twelve leading indicators
920. Four coincident indicators
930. Six lagging indicators

1967=100 .
U,L
do. . .
C,C,C
Lg,L9.Lg

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
L.L.L
L.L.L
L,L,L
L.L.L

do.
do.
do.

do.
do.

140.9
146.0
122.4

137.0
136.2
122.9

137.0
135.3
122,5

139.9
132.2
1,18,4

147.7
133.6
114.9

145.6
133.8
115,2

147.6
133.1

115.4

149.8
134.0
114.2

93.0
107.7
100.9
97.9
122.7

NA
104.4
97.4
94.0
122.9

NA
103.6
98.4
93.4
123.7

NA
105.9

NA
107.3
97.3
98.5
130.2

NA
107.9
98.8
99.5
132.5

NA
108.4
100,1
NA
132.0

NA
0.6

96.4
122.9

NA
107.9
98.7
NA
131.6

39.6
2.6
NA
479
NA
NA

1.5
0.7
-1.0

2. t

5.6
1.1
-3.0

NA
0.5
1.3
NA
-0.4

NA

NA
1.9
1.2
NA
7.1

-1.8
0.

•97.5

1.4
-0. '
5

0.2

1.0
1.8

3.2
~o. (
i

B. Cyclical Indicators by Economic Process
B 1 . Employmant and Unemployment
Marginal Employment Adjustments:
• 1 . Average workweek, prod, workers, mfg.
21. Avg. weekly overtime, prod, worlkers, mfg.3 .
2. Accession rato- per 100 employee, mfg.2 . . .
*!>. Avg. weekly initial claims (inverted4)
& Layoff rate, per 100 employ., mfg. (inv. 4 ) 2 .
4. Quit rate, per' 00 employees, mfg.2
Job Vacancies:
60. Ratio, help-wented advertising to persons
unemployed"1
46. Help-wanted advertising
Comprehensive Employment:
46. Employee hours in nonagri. establishments..
42. Persons engaged in nonagri. activities . . . . . .
*4K Employees on nonagri. payrolls
40. Employees in mfg., mining, construction . . .
90, Ratio, civilian employment to total population of workirg age2
Comprehensive Unemployment:
37. Total unemployed (inverted4)
43. Unemployment rate, total .4inverted4)3
45, Avg. weekly insured unemploy.rate (inv. 4 ) 2 (
* 9 1 , Avg. duration o" unemployment (invartod4) ,
44. Unemploy. ratu, 15 weeks and over (inv. 4 ) 2 ,

L.L.L
L,C,L
L,L,L
L.C.L

Hours
do. . .
Percent
Thousands.
Percent. . . .
do. . .

39.8
2.8
3.2
446
1.6
1.3

38.9
2.3
NA
578
NA
NA

39.0
2.4
NA
597
NA
NA

38.9
2.3
NA
599
NA
NA

39.5
2.4
NA
488
NA
NA

39.8
2.3
NA
507
NA
NA

39.1
2.3
NA
478
NA
NA

ULg.U
L,Lg,U

Ratio
1967=100..

0.429
119

0.243
86

0.211
78

0.198
79

0.216
83

0.216

0.215

U.C.C
U.C.C
C.C.C
L,C,U

A.r., bil. hrs.
Thousands. ,
do. . . .
do. . . ,

169.94
97,030
91,105
25,481

166.03
96,125
89,619
23,882

165.67
96,192
89,371
23,676

163.91
95,705
88,731
23,102

164.81
95,697
88,836
23,068

165.80
95,691
88,920
23,162

163.R0
95,670
88,735
23,018

164.84
95,729
Sn,854
23,025

-1.2
0.
-0,2
-0,6

0.6
0.1
0.1
0.

-2,4

U,Lg(U

Percent

58.28

57.06

57.01

56.57

56.40

56.46

56.38

56.36

-0.0ft

-0.02

-0.44

8,273 10,678 11,025 11,839 11,439 11,446 11,490 11,381
10.4
10.4
10.3
10.7
10.4
7.6
9.7
10.0
4.5
4.4
3.4
4.6
4.7
4.5
5.1
4.5
19.2
19.1
16.1
19.0
13.7
15.6
17.5
19.4
4.2
4.2
4.2
2.1
3.2
4.1
4.2
3.3

-0*4
0.
0.
2.1
0.

0.9
0.1
0.1
-0.5
0.

-7.4
-0.7
-0.4
-8.7
~O.fi

3.4
0.3
0.6
-9.7
-0.1

-0.3

0.
0.

0.5
0.5

0.1
-0.5

0.8
0.4
0.7

0.

-2.2

1.8

1.1
1.5
1.1

-2. .
1
-4.0
-0.4
-1.5

2.0
3.3
1.5
0.7

-2.;.
-L
-2.*)

1.2
NA
2.0

U,L

Thousands.
Percent....
do. . .
Weeks
L9.L9.L8
Lg,Ln,Lg Percent....
L,Lg,U
L,Lg,U

1.3
0.3
NA
5,7^: -0.2
NA
NA

0.217 -0.001
83

-0.3
-0.1
NA

-0.3
NA

0.002 •0.01.3
1.3

1.5
0.1
NA
18.5
NA
NA

0.018
5.1
0.5
0.
0.1
-0.1
-0.17

B2. Production and Income
Comprehensive Output and Income:
50. GNP in 1972 dollars
52. Personal incoma in 1972 dollars . ,
*51, Pars, income lea; transfer pay., 1972 dollars ,
53. Wages and salarins in mining, mfg., and construction, 1972 dollars
Industrial Production:
*47. Industrial production, total
73. Industrial production, durable mfrs
74. Industrial production, nondurable rnfrs
49. Value of goods output, 1972 dollars
Capacity Utilization:
82. Capacity utilization rate, mfg., FRB 2
83. Capacity utilization rate, mfg., BE A 3 . . . . . .
84. Capacity utilization rate, materials, F R B 3 . , .

C,C,C
CC,C
C,C,C

A.r.,bil.dol.
do. . . .

do. ..

1502.6 1476.9 1481.1 1477.2 1488
1242.0 1247.7 1248.2 1249.4 1254.5 1252.6 1252.6 1258.4
1069.1 1065.9 1064.7 1059.9 1067.3 1065.5 1065.6 1070.8

C,C,C

do. . .

230.2

216.2

213.7

2OB.9

212.6

212. 4

212.7

212.7

C,C,C
C.C.C
C,L,L
C.C.C

1967=100..

151.0
140.5
164.8
689.5

138.6
124.7
156.2
661.3

138.2
124.8
156.4
665.1

13S.3
119.8
155.7
655.3

138.0
123.7
158.0
660.2

137.2
122.3
157.3

137.6
123.5
157,5

139.1
125.3
159.2

78.4
76
79.9

69.8
70
68.9

69.7
69
68.1

67.6
68
65.8

68.8
NA
67.8

L.C.U

L,C,U

do. . . .
A.r., bil. dol.

Percent..
. . . . .do.
do.

0.3
1.0
0,:,

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 do I.
26. Chg. in unfilled oders, durable goods3
96, Mfre.'unfilled orders, durable goods5
*32. Vendor performance3 <§)
Consumption and Trade:
56. Manufacturing ami trade sales
*57. Manufacturing and trade sales, 1972 dollars
75. Industrial produdion, consumer goods
54. Sales of retail storas
59. Sales of retail stors, 1972 dollars

55. Personal consumption expend., autos .
58. Index of consumtrsentiment©

Bil. dol
do. . . .
do. . . .
do. . . .
Bil. dol., EOP
Percent

83.24 74.60 74.23 72.27 79.11 80.92 78.08 78.34
37.41 32.29 32.02 30.98 33.68 34.66 33.16 33.22
33.12 29.34 30.03 28.01 30.98 31.22 31.49 30.23
3.67
0.46 -0.77
-0.14 -1.94 -3.38 -0.154
1.12
308.37 285.08 286.71 285.08 288.44 288.75 289.21 288.44
41
50
37
42
45
39
41
44

-3.5
-4.3
0.9
-3.21
0.2
1

0.3
0.2
-4.0
-1.23
-0.3
8

-2.6
-3.2
-6.7
2.R4
-0.6
2

9.5
8.7
10.6
1.66
1.2
3

354.08
159.08
147.9
86,566
45,299
67.2
70.7

NA
339.13
NA
152.66
144.2 145.3
91,197 91,515
45,169 45,237

-1.3
-1.3
0.4
-1.2
-1.0

NA
NA
0.8
0.3
0.2

L,C,C
L,L,L

Bil. dol
do. . . .
1967=100...
Mil. dol
do. . . .
A.r., bil. dol.
I Q1966=100

NA
NA
lf
.l
-0.3
-0.3
-0.1
3.9

L,L,L
L,L,L

1967=100...
Number. . . .

118.6 113.0 111.3 112.7
48,435 47,153 45,686 50,504

2.0
NA

IXX
UL.L
L4L,L
L,L,L
Llg,U
UL.L

C,C,C
C,C,C
C.L.C

u,uu

342.14
152.13
142.6
89,114
44,743
70.9
68.0

343.46
152.30
144.4
89,478
44,428
69.5
66.7

336.20
NA 343.69
149.74
NA 154.63
141.8 144.4 143.6
91,952 91,669 92,295
45,476 45,350 45,645
78.2
78., 3
70.4
72.5
75.3

74.6

80.8

6.0

8.3

-2.1
-1.7
-l.B
2.8
2.4
12.7
8.7

115.3
NA

116.6
NA

1.9
NA

1.1
NA

1.3
10.5

B4. Fixed Capital Investment
Formation of Business Erterprises:
*12, Net business formation
13. Mew business incorporations




,

115.0
NA

113.1
NA

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Series title

Timing
classification3

Unit
of

Percent change

Average

Feb.
3d Q

measure

1982

4th Q
1982

1st Q
1983

Jan.
1983

Feb.
1983

Mar.
1983

1982

Feb.
1983

Mar.
1983

3d Q
to
4th Q
1982

4th Q
to
1st Q
1983

I. CYCLICAL INDICATORS-Con.
B4. Fixed Capital tnvestment-Con.
Business Investment Commitments:
10. Contracts and orders, plant and equipment ..
#
20. Contr. and orders, plant and equip.,
1972dol
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 dol. .
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
do. . . .

LL.L
L,L,L

do. . . .

LLL

do. . . .

L.C.LJ
U,Lg,U

Mil. sq.ft. ..
C,Lg,Lg Bil.dol
Bil.dol., EOP

28.01

24.73

23.63

14.10
24.04

12.30
20.64

11.50
19.83

12.16
20.17

11.78
19.59

12.39

10.56

9.88

10.50

10.19

77.72
26.42
92.74

57.38
21.28
71.15

57.84
18.48
74.29

51.63
21.52
71.15

59.10
NA
NA

23.47

CLg,Lg A.r., bil. dol.

348.59 325.32 319.59 312.11
181.1 157.9 153.1 147.2
172.0 165.7 163.4 160.9

11.80
20.47

-2.1

l.R

-2.5

5.5
4.0

5.7
1.7

-3.1
-2.9

11.46
18.77

12.09
19.53

10.63

9.39

10.54

-11.7

12.2

6.3

-3.0

66.89

57.77

52.65

-13.6

-8.9

-10.7
16.5
-4.2

14.5
NA
NA

9
11
97

-4.1

-0.2

61

-2.9
-8.3

321.49 316.43 315.79 302.77 302.25

do. . . .
C,Lg,Lg
C,Lg,U 1967=100...
C,Lg,C A.r., bil. dol.

2 3. 80 23.30

L,L,L
LLL
L,L,L

A.r., thous. .
1967=100...
A.r., bil. dol.

LLL

do.

L,L,L
L.L.L
L,L,L

do.
do.

20
24

NA 308.86 305.24
144.6 146.5 143.3
162.0

NA
143.9

-1.2
-2.2

NA
0.4

-2.3
-3.9
-1.5

NA
-1.8
0.7

69
76
86

1,775
120.6

1,611
117.9

4.8
1.0

-9.2
-2.2

12.4
24.3
R.6

34.3
20.7
16.3

28
29
89

-23.7

7.9

30

-8.64 -13.78
-38.2
2.2
-1.68 -1.55

NA -27.17 -21.21
6.2
NA -56.3
1.09
NA -0.43

NA
NA
NA

5.96
62.5
1.52

NA
NA
NA

-5.14
-40.4
0.13

NA
NA
NA

36
31
38

526.97 512.25 521.80 512.25
269.85 261.00 266.03 261.00

507.56 508.08
NA 258.46 258.24
NA
81.99 82.02
NA
1.67
1.69
NA
197.29 198,38

NA
NA
NA

0.1
-0.1

NA
NA
NA

-1.8
-1.9
-3.3

NA
NA
NA

71
70
65

0.02

NA

77

NA

78

0.92
241.3

1.96
248.8

1,087
80.0
44.9

1,061
79.6
40.3

1,122
79.5
39.5

1,261
98.8
42.9

9.0

-9.2

3.4

-20.3

1,693
119.3
49.9

1,694
119.4

B5. Inventories and Inventory Investment
Inventory Investment:
30. Chg. in business inventories, 1972 dol. a
*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. Mfrs.' 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

Bil. dol. .

LgXg.Lg
Lg,Lg,Lg
Lg,Lg,Lg

Bil. dol., EOP
do. . . .
do. . . .

Lg,Lg,Lg

3.44 -14.67
34.2 -14.7
0.10 -2.12

Ratio

87.66

L,Lg,Lg

83.52

86.40

1.68

1.74

1.74

Bil. dol., EOP

83. 52
1.76

223.13 197.72 202.36 197.72

B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*99. Change in sensitive prices (smoothed8)1..
23. Spot market prices, raw industrials ( 3 ) .

UL.L
U,L,L

Percent
1967=100...

Stock Prices:
*19. Stock prices, 500 common s t o c k s ® .

LLL

194143=10.

-0.58
283.4

-0.67
242.5

-0.61
237.4

-0,47
231.1

0.91
240.7

-0.15
232.1

NA

0.
0.02

NA
0.6

128.04 119.71 113.82 136.71 147.65 144.27 146.80 151.88

1.07
4.0
1.8

1.04
3.1

0.14
-2.7

1.38
4.2

99
23

3.5

20.1

8.0

19

Profits and Profit Margins:
16. Corporate profits after taxes
18. Corp. profits after taxes, 172 dollars
79. Corp. profits after taxes with IVA and CCAdj . .
80
do
in 1972 dol..
15. Profits (after taxes) per dol. of sales, mfg. 2 .
26. Ratio, price to unit labor cost, nonfarm bus . . .

L,L,L
L,L,L
L,C,L
UC.L
L,L,L

LLL

A x , bil. dol.
do. . . .
do. . . .
do. . . .
Cents
1977=100...

150.9
76.2
109.5
55.5
4.8
98.0

117.1
56.6
103.1
49.7
3.5
96.7

119.4
57.1
105.3
50.4
3.5
96.8

117.9
56.1
106. 6
50.8
2.8
96.7

NA
NA
NA
NA
NA
97.6

-1.3
-1.8
1.2
0.8
-0.7
-0.1

NA
NA
NA
NA
NA
0.9

16
1R
79
80
15
26

Cash Flows:
34. Net cash flow, corporate
35. Net cash flow, corporate, 1972 dollars

LLL
LLL

A.r., bil. dol.
do. . . .

275.2
134.7

267.5
125.5

272.6
128.6

277.4
130.7

NA
NA

1.8
1.6

NA
NA

34
35

153.1

153.8

154.9

155.8

1.305
210.3

1.391
229.4

1.392
229.8

1.409
231.2

NA
230.5

230.8

75.1

76.2

76.1

76.0

0.82
2.49
NA
205.6
856.4
1.315

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
national income 2

Lg,Lg,Lg 1977 = 100..
Lg,Lg,Lg Dollars. . . .
Lg,Lg-Lg 1967=100..
Lg,Lg,Lg Percent

0.6
NA
-0.3

68
62

0.25
1.05
NA
3.6
5.0

85
102
104
105
106

-0.171 0.083
0.015 -0.051

107
108

25.86
51.40
11/37
-6.0

33
112
113
111

229.7

0.1

-0.6

1.2
0.6

1.87
1,95
NA
209.9
875.0

1.28
0.90
NA
212.3
881.6

1.05
-0.54
NA
2.1
2.2

-0.59
-1.05
NA
1.1
0.8

0.35
-0.20
NA
2.7
1.8

1.292

1.287 -0.023 -0.005

B7. M o n e y and Credit
Money:
85. Change in money supply (M1) 2
102. Change in money supply (M2) 2
104. Chg. in total liquid assets (smoothed 6 ) 2 .
105. vioney supply (Ml), 1972 dollars
*106. Money supply (M2), 1972 dollars

LLL
LC.U
LLL
LLL
L,L,L

Percent.
do.
do.
Bil. dol. .
do.

0.52
0.81
0.95
197.9

789.8

0.69
0,73
N
A
198.5
813.9

0.72
0.93
1.00
196.6
814.4

1.07
0.73
NA
202.0
829.3

1.32
1.78
NA
209.3
871.0

Velocity of Money:
107. Ratio, GNP to money supply ( M l ) 2
108. Ratio, pers. income to money supply (M2) 2

c,c,c

Ratio

C,Lg,C

do. . . .

6.832
1.407

6.681
1.368

6.734
1.364

6.563
1.349

6.480
1.298

Credit
33.
112.
113.

LLL
LLL
LLL

A.r., bil. dol.
do. . . .

LLL

A.r., Percent.

39.91
36.32
18.14
7.1

-6,71
17.29
13.04
1.4

-7.87 -33.73
11.56 -39.84
5.18 16.55
-5.8
0.2

NA
9.88
NA
1.0

Flows:
Change in mortgage debt 2
Change in business loans2
Change in consumer installment credit2 .

•111. Change in credit outstanding2




14.08 35.05
32.18 -10.73
35.15 20.93
2.0
5.9

NA 20.97
8.18 -42.91
NA -14.22
-3.9
-4.9

NA
18.91
NA
-6.9

NA
49.72
NA
6.8

Table 1. Summary of Recent Data and Current Changes for Principal Indicators-Continued
Basic data1
Timing
classification3

Series title

Unit
of
measure

sCBfit cbangi-

Average
3d Q

1981

1982

1st Q

Jan.

Feb.

Mar.

1983

4th Q

1982

1983

1983

1983
1983

4th Q
to

Feb.
to
Mar.
1983

1st Q
1983

I. C Y C L I C A L I N D I C A T O R S - C o n .
B7. M o r e y and C r e d i t - C o n .
Credit Difficulties;
14. Liabilities of business failures (inv. 4 K§)..,.
39. Delinquency rate, instal. loans (inv.4;»2 s . .

Mil. do!
Percent, EOP

579.60
2.37

NA

NA

HA

U,L

2.18

2.19

2.18

NA
NA

NA
NA

NA
NA

l,U,U

Mil. do!

-1,051
1,359

-692
1,052

-390
718

-142
577

-224
637

46
500

-132

557

-585
854

16.38
14.08
12.87
15.48
11.33
16.31
19.56
18.87

12.26
10.72
12.23
14.68
11.66
15.30
14.69
14.86

11.01
9.71
12,20
14.72
11.39
14.98
13.27
14.72

9.29
7.93
10.34
12.22
9.90
12.87
11.26
11.96

8.65
8.08
10.44
11.99
9.43
12.73
10.20
10.88

8.68
7.81
10.37
12.04
9.50
12.87

8.51
8.13
10.60
12.11
9.58
12.65

8.77
8.30
10.34
11.81
9.20
12.68

-0.17
0.3?
0,23
0.07
0.08

11.16

10.98

10.50

-0.3.B

-0.4B

326.27 339.32 335.18 339.32
NA 342.24 343.99
NA
227.09 266.50 272.62 269.03 266.33 266.70 265.80 266.48
92.15 106.05 108.24 106.73 105.53 105.87 105.10 105.62
12.96 13.01
NA
NA
13.26 12.97 12.91 12.85

0,5
•-0. 3
-0.7
CL05

o.;i

L.L.L

Bank Reserves:
93. Free reserves (inverted 4 ) 2 ©
94. Borrowing f ram the Federal Reserve 1 ®.,.

Ug,U

Inierest Rates:
119. Federal funds r a t e 2 ©
„
114. Treasury bill! r a t e 2 ©
2
115. Treasury bond yields ©
116. Corporate bond yields 2 ©
117. Municipal bold yields 2 ©
118. Mortgageyiaids, residential 2 ©
•..,...
157. Bank rates or short-term bus. l o a n s 2 © . . . .
*109. Average prirra rate charged by b a n k s 1 ® . . .

L.Lg.Lg
CLg.L.g
C.Lg.Lg
LgXg.Lg
u.Lg.Lg
Lg,Lg,l.g
Lg,Lg,L.g
La.La.Lg

Percent.,

Lg.Lg,Lg

6il.dol.,EOP
Bil.dol
do. . . .
Percent

Outstanding Debt:
116. Consumer installment credit'
72. Commercial anc industrial loans
•101. Commercial ant industrial loans, 1972 dollars . . .
*!)5. Ratio, consumsr install, credit to pars, income 2

gg
Lg,Lg,Lg
Lg,Lg,Lg

do. . . .

do.
do.
do.
do.
do.
do.
do.

NA
NA

KA
NA

57

453
297

-243
-141

82
60

0.28

- ; t . 72
- 1 . 7B
- 1 . R6

-0.64
0.15
0.10
-0.23
-0.47
-0.14
-1.06
-1.08

0. 17
-0.26
-0.30
-0.38
0.0 *

NA

-:>.so
-1.49

-a.r.

-2.0J.

L. 2
-1. 4
- 0 . 0 si

NA
-1.0
-1.1
NA

I I . O T H E R I M P O R T A N T ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
B 1 . Price Movements
310.
320.
320c.
322.
330.
331.
332.
333.
334.

1972=100..
1967=100..
Percent. . . .
1967-100..

Producer price: (PPI), all commodiities <§)
PPI,crudematurials
PPI, intormedlBte materials
PPI, capital •qitpmant
PPI, finished cc nsumer goods

195.5
272.4
0.7
274.6

207.2
289.1
0.3
285.7

208,5
292 u 8
0-3
287. 3

210.4
293.4
0.
288.1

213.4
293.2
0.
288.9

293.1
0.2
288.3

293.2
-0.2
288.3

293.4
0.1
290.1

0.
-0.4
0.

0.1
0.3
0.6

do. , .
do. . .

Implicit price deflator, GNP
Consumer prices (CPI), all items ©
Changs in CPi, all items, S/A2
CPI,food..,

293.4
329.0
306,0
264.3
271.3

299.3
319.5
310.4
279.6
280.9

300.0
318.9
310.5
281.6
282.4

300.2
316.0
311.5
283.2
285.7

300.6
317.5
309.9
285.5
282.5

300.0
315,6
310.8
284.3
282.6

301.2
317.6
310.5
285.6
282.8

300.5
319,4
308.3
286.7
282.0

0.4
0.6
-C. 1

-0.2

138.9

148.4

149.6

151.4

153.1

152.8

153.2

153.4

0.3

92.6
143.6
95.7
100.7

93.3
154.0
96.7
101.0

93.0
155.3
96
101.3

93.7
157.4
97.2
102.0

95
159
98.8
102.6

94.8

95.2

95.0

0.4

do. ...
do. ..
do. ..

C . fi
C. I

-0. 2
o. :\

1.4
-0.1
0.

0.3

o. :i
-o.(»

0.1
0.5
•-0,5
0.8
-1.1

0.1

1. 7

1.1

-0.2

Q.fi
1.4
O.F
0.7

1.6
0.6

-0.3

o.:i
0. (i
, .2
1

B2. WagES and Productivity
343. Average hour!v earnings, production worse's,
private nonfarm economy
341. Real average hourly earnings, production
workers, private) nonfarm economy
34S. Average hourly compensation, nonfarm bus.,
343. Real avg. hoirly comp., nonfarm business . ,
3713. Output per ho jr, private business sectcr . . . .

1977=100..
do.
do.
do.
do.

..
..
..
..

C. Labor Force, Employment, and
Unemployment
441.
442,
37.
444.
445.
44EJ,
Labor
451.
452.
453.

Total civilian labor force
Total civilian employment
Number of persons unemployed
Unemployed males, 20 years and over
Unemployed fttmales, 20 years and over
Unemployed psrsons, 16-19 yeais; of age

Millions . . .
do. . .
Thousands.
do. . .
do. . .
do. . .

Force Participation Rates:
Males,, 20 years and over2
Females, 20 yuarsand over2
Both sexes, 1f 19 years of age2

Percent. . . .
do. . .
do. . .

79.0
52.1
55.4

78.7
52.7
54.1

78.8
53.0
53.9

78.8
52.9
54.1

78.1
52.9
53.0

0,
a,
0.4
2:, 1
-.1.0

78.1
52.9
53.5

78.2
52.9
52.7

78.1
52.8
52.8

0..1
o,
-0.

-0.1
0.
-0. 9
-2.9
-0.9
5.3

0.3
-0.5
7. 4

-0.1

0.
-0. 1
ft, 7

-0.7
0.
-1.1

r„2
6,4
-4B., 2

108.67 110.20 110.63 110.97 110.53 110.55 110.55 110.48
99.09 99.10 99.06 99.10
100.40 99.53 99.60 99.14
8,273 10,678 11,025 11,839 11,439 11,446 11,490 11,381
3,615
5,089
5,320 5,829 5,642 5,597 5,749 5, 581
2,895
3,613
3,684 3,961 3,926 3,963 3,925 3,889
1,886
1,911
1,815
1,763
1,977
2,020 2,049 1,871

NA
-2.1
NA

•-0,1

0.3.

-0.4
-0.1
-3.4
-3.2
-0.9
-a. 7

D. Government Activities
D 1 . Receipts and Expenditures
501.
502.
500.
511.
512.
510,

Federal Government receipts
Federal Government expenditures
Federal Government surplus or daficit 2 .
State and local government receipts
State and local government expenditures
State and local govt. surplus or deficit 2

517.
525.
548.
564.

Defense Department obligations
Military prime contract awards
New orders, delonse products
National defense purchases

D2.

A.r., bil.dol.
. . .do.
..
.do. .
. . ..do. .
do.
. . .do. .

628.2 613.9 613.7 615.0
688.2 763.4 769.7 819.2
- 6 0 . 0 -149.5 -156.0 -204.2
416.8 437.2 440.5 450.0
408.2 413. 5
385.0 405
32.3
31.7
32.1
36.4

NA

802.2
NA
NA
419.0

NA

1.3
NA

NA

Defense Indicators
Mil. dor
do. . . .
A.r., bil.dol.

15, 945 18, 908 17,501 19,824
8, 065 10, 718 9,278 10,977
4, 855 6, 066 4,778 7,074
189.3
153.7 178.6 182.7

Mil.dol.
do.
do.
do.
do.
do.

19,456 17,694 17,614 16,290
3,053
2,733 2, 700
3,608
3,745
4,456 4,007 4,119
21,751 20,329 21,120 19,684
6,319
4,964 5,419
4,961
2,190
2,442
2,540 2,254

do. . . .

NA 21,340 19,502
NA 16,908 13,042
8,882 6,140
7,320

NA
NA
6,939

-P.6
-2?.. 9
-30.9

N
A
N
A
13.0

NA
NA
NA
NA
NA
NA

-6.1
-4.6
-7.S

NA
NA
NA
NA
NA
NA

;t3.:*
40.]

191.6

3.5
1.2

E. U.S. International Transactions
E 1 . Merchandise Trade 602.
604.
606.
612.
614.
616.

Exports, total except military aid
Exports of agrict Itural products
Exports of nonelxtricol machinery
General imports, total
Imports of petroleum and product!!
Imports of automobiles and parts ,




«.

...
,..
..,
...
...
...

NA
NA
NA
NA
NA
NA

17,393 16,326
3,128 2,985
3,644
3,359
20,021 19,015
4,166
2,859
2,329
3,019

-s.o
-31. 4
29.S

NA
NA

-.6.8
-R.5
-11.3

NA
NA

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Percent change
Series title

Unit
of
measure

2d Q
4th Q
1981

1st Q
1982

1982

2dQ
1982

3dQ
1982

4th Q
1982

1st Q
1983

3d Q

4th Q

3dQ
1982

4th Q
1982

1st Q
1983

I I . OTH1ER I M P O R T A N T 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
Inccme on U.S. investments abroad
Inccme on foreign investment in the U.S. .
Exports of goods and services
I mports of goods and services
Balance on goods and services2

Mil. dol.
. .do. .
. .do.
, .do..
..do.
. .do.
..do.
..do.

064 52,753 57,593 55,607 55,001 52, 334
56,059
62,394 66 036 61,836 66,778 61,545 60,763 64, 829
972 -9,083 :-9,185 -5,938 -5,762 -12, 495
-6,334
486 21,475 21,727 20,896 22,568 21, 626
18,171
227 14,296 13,198 14,029 14,874 14, 544
10,694
223 87,522 92,259 90,014 91,088 87, 132
85,526
454 87,579 91,316 86,932 87,160 90, 697
83,451
770
3,082
3,928 -3, 565
-57
2,074
943

A.r., bil. dol.
do..
do. .
do..
....:..do..
A.r., dollars.
do..

1474.0
2633.1
1479.0
1824.1
1018.0
6,475
4,472

A.r., bil. dol.
do..
do..
. .do..
. .do. ,
..do.
..do.
..do.

956.
930.5
947.6
956.9
943.4
949.1
955.0
136.
137.1
140.0
138.8
134.1
137.5
138.3
365.
355.8
362.4
365.0
363.1
362.2
364.5
454,
437.6
445.2
453
446.2
449.5
452.2
1667.2 1843.2 1971
1884.5 1919.4 1947.8 1986,
240.
214.3
234.6
242
229.6
237.9
240.7
768.
670.4
734.5
762
746.5
749.1
755.0
977.
782.5
874.1
966.3
908.3
932.4
952.1

48,071
60,207
•12,136
20,811
13,735
81,855
85,527
-3,672

NA
NA
NA
NA
NA
NA
NA
NA

-4.8
6.7
6,733
-4.2
-2.2
-4.3
4.1
7,493

-8.1
-7.1
359
-3.R
-5,6
-6.1
-5.7
-107

NA
NA
NA
NA
NA
NA
NA
NA

618
620
622
651
652
668
669
667

1477.2
3108.2
1497.5
2224.3
1059.1
6,342
4,547

1488.5
3176.7
1500.9
2247.0
1063.8
6,375
4,556

0.2
1.4
-0.3
2.2
0.3
-0.1
0.1

-0.3
0,6
1.3
1.2
0.1
-0.5
-0.2

0.8
2.2
0.2
1.0
0.4
0.5
0.2

50
200
213
224
225
217
227

972.4
967.0
144.5
142.8
369.8
367.6
458.1
456.6
2030.8 2054.0
256.4
251.8
776.4
775.7
1003.3 1021.2

0.1
-1.4
0.4
0.4
2.0
-0.2

1.1
4.7
0.5
0.6
2.2
4.8
1.0
2.6

0.6
1.2
0.6
0.3
1.1
1.8
0.1
1.8

231
233
238
239
230
232
236
237

A. National Income and Product
A 1 . GNP and 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 persona! income, 1972 dollars
Per capita GNP in 1972 dollars
Per capita disposable pers. income, 1972 dol..

1502.6
2937.7
1493.7
2029.1
1043.1
6,537
4,538

1476.9
3059.3
1486.0
2172.7
1054.8
6,364
4,545

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

1478.4
3045.2
1482.7
2151.5
1054.8
6,380
4,552

1481.1
3088.2
1477.8
2198.1
1058.3
6,375
4,555

A 2 . Personal Consumption Expenditures
231.
233.
238.
239.
230.
232.
236.
237.

Total, 1972 dollars
Durable goods, 1972 dollars
Nondurable goods, 1972 dollars . .
Sen/ices, 1972 dollars
Total, current dollars
Durable goods, current dollars
Nondurable goods, current dollars.
Services, current dollars

A 3 . 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.. .7
To'tal fixed investment, current dollars
Chj. in bus. inventories, current dol. 2

. .do. ,
. .do. .
..do. .
. .do. .
. .do. .
..do..

208.4
213.3
-5.0
402.3
412.4
-10.0

225.8
216.9
9.0
471.5
451.1
20.5

196.9
206.1
-9.2
420.3
444.1
-23.8

218.9
214.1
4.8
468.9
455.7
13.2

195.4
210.8
-15.4
414.8
450.4
-35.6

202.3
206.7
-4.4
431.5
447.7
-16.2

206.3
202.9
3.4
443.3
438.6
4.7

183.5
203. 8
-20.3
391.5
439.9
-48.3

199.5
211.9
-12.4
430.6
459.1
-28.5

2.0
-1.8
7.8
2. 7
-2.0
20.9

-11.1
0.4
-23.7
-11.7
0.3
-53.0

8.7
4.0
7.9
10.0
4.4
19.8

241
243
30
240
242
24S

. .do. .
..do..
..do..
..do..
. .do. .
. .do. .

2 84.6
106.5
178.1
538.4
197.2
341.2

287.1
110.4
176.7
596.9
228.9
368.0

291.3
116.4
174.9
647.4
257.9
389.4

291.3
116.0
175.3
626
250
375.7

289.2
114.4
174.9
630.1
249.7
380.4

285.3
110.3
175.0
630.9
244.3
386.6

291.1
116.2
174.9
651.7
259.0
392.7

299.5
124.7
174.8
676.8
278.7
398.0

292.6
117.5
175.1
675.5
271.9
403.6

2.0
5.3
-0.1
3.3
6.0
1.6

2.9
7.3
-0,1
3.9
7.6
1.3

-2*3
-5.8
0*2
-0.2
-2.4
1.4

261
263
267
260
262
266

. .do.
..do.
..do.
..do. .
..do.
. .do.

159.2
108.6
50.6
339.2
314.0
25.2

158.5
116.4
42.0
367.3
341.3
26-1

148.1
116.3
31.8
350.8
330.3
20.5

156.9
120.4
36.5
367.9
344.4
23. 5

151.7
114.7
36.9
359.9
328.6
31.3

154.4
118.7
35.7
365.8
330.9
34.9

147,5
120.0
27.5
349.5
342.5
6.9

138.8
111.6
27.2
328.1
319.1
9.1

138.
114.
24.0
330
313.6
16.6

-4.5
1.1
-8.2
-4.5
3.5
-28.0

-5.9
-7.0
-0.3
-6.1
-6.8
2.2

-0.2
2.6
-3.2
0.6
-1.7
7.5

256
257
255
252
253
250

NA
2117.1 2352.5 2436.6 2404.5 2396.9 2425.2 2455.6 2468.8
1598.6 1767.6 1856.5 1813.4 1830.8 1850.7 1868.3 1876.1 1908.5
117.3
118.4
128.9
128.5
124.1
116.4
124.7
120.3
116.3
155.4
166.2
164.6
NA
190.6
183.9
157.1
160.8
181.6
34.2
34.6
33.9
35.3
33.6
33.9
34.1
32
33.9
268.1
265.3
266.9
258.7
235.7
264.9
267.5
187.7
249.5

1.3
1.0
0.9
6.9
1.2
0.2

0.5
0.4
8.9
-1.0
-2.0
-1.0

NA
1.7
-0.3
NA
4.1
0.6

220
280
282
286
284
288

-4.3
2.5
5.3
-36.2
0.2

-14.0
0.9
-12.2
-44.0
-0.9

NA
NA
-1.1
NA
-0.1

290
295
292
298
293

A 4 . Government Purchases
of Goods and Services
261.
263.
267.
260.
262.
266.

Total, 1972 dollars
Federal Government, 1972 dollars
Stcte and local governments, 1972 dollars
Total, current dollars
Federal Government, current dollars
State and local governments, current dollars . .
A 5 . Foreign Trade

256.
257,
255.
252.
253.
250.

Exports of goods and services, 1972 dollars . .
Importsof goods and services, 1972 dollars . ,
Net exports of goods and serv.( 1972 dol. 2 . . .
Exports of goods and services, current dol. . . .
Irrports of goods and services, current dol. . . .
Net exports of goods and serv., current dol. 2 .

A 6 . National Income and Its Components
220.
280.
282.
286.
284.
288.

National income
Compensation of employees
Proprietors' income with IVA and CCAdj
Corporate profits with IVA and CCAdj . .
Rental income of persons with CCAdj . .
Not interest

290.
295.
292.
298.
293.

Gross saving (private and govt.) . . .
Business saving
Personal saving
Government surplus or deficit 2 . . .
Personal saving rate2

..do.
. .do.
..do.
, .do.
..do.
..do.

A 7 , Saving
do..
do. .
do..
..do.
Percent .

406.2
332.1
106.2
-33. 2
5.8

414.0
477.5
374.5
389.2
130.2
142.2
-28.2 -117.4
6.4
6.5

476.3
389.1
158.6
-72.5
7.5

428.8
380.3
139.1
-90.7
6.6

441.5
384.6
144.3
-87.5
6.7

42 2.4 363.3
394.2
397.7
133.4
152.0
-123.7 -167.7
6.0
6.9

NA
NA
131.9
NA
5.9

NOTE: Series are seasonally adjusted except tor 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. N A = not available, a s 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.
1
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
IA

I

COMPOSITE INDEXES AND THEIR COMPONENTS

Chart A l . Composite Indexes
(Nov.)(Oct.)
P

T

[Index: 1967^00

93O.»ex of 6 lagging indicators ;
fc
62; 77, 91, 95,101,108

1948 49 50 51 152 i>3 W\> SB 56 57 58 59 00 61 62 63 64 65 66 87 68 69 70 71 72

9 «l» 8 1 III" ;r983

NOTE: Numbers entered on the chart indicate length of leads ( - ) and lags ( + ) In months from reference turning dates.
Current data for these series tiro shown on page 60.

10



APRIL 1983

CYCLICAL INDICATORS
IA

I

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A l . Composite Indexes—Continued
(Nov.)(OcL)
P T

(JulyXMay)

P T

(Aug.)(Apr.)
P T

(Apr.)(Feb.)
P T

(Dec.)(N6v.)
P T

(Nov.) (Mar.)
P
T

(Jan.)(July)
P T

employment adjustments (series 1,2\ i

investment commitments (series 12,

and purchasing (series S, 32, M M ) ;!"'

\ 19J7. Money #

financial»s

t

J|M

,

(series 104,106, 111)

. Ratio, coincident index to lagging

1948 49 50 51 52 S3 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77
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.

BCII

APRIL 1983




11

1

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components

P

(Aug.)<Apr.)
P T

T

(Apr.XFeb.)
P T

1. AvtragjworkweaEJroductidn workers,
manuf4ring (haife

(trwiiands—inverted scale) r-g-[

8 f f ew orders
|tbiLdol.)

• l l •••- - ; .

ifjods and materials, 1972 doHafT

pv

^

SLL

JSL
A

32. ppdor performance, percent of companjppf receiving slolp
Iveries (percent)
~"—
~

^v^V
12 V Net business formation (index: 1 9 6 7 ^ ) 0 )

for w i t and equipment,

SO SI 92 S3 m

SU S6 57 58 59 60 61 02 ©3 64 69 i (

81 -P2 1963

Currt nt data for theio series are «hown on pages 61, 64, 65, and 66.

12



APRIL 1983

B

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components—Continued
(Nov.XOct.)
P T

(July)(May>
P

(Aug.)(Apr.)

T

29.

P T

(Apr.)(Feb.)
P

T

(Dec.)(Nov.)
P • T

(Nov.) (Mar.)
P

T

(Jan.)(July)
P T

New building permits, private housing units (index: 1 9 6 7 - 1 0 0 )

36* Net change in inventories orvjwid and on order, 1972 dollars, smoothed1 (ann. rate, b l dol.)

99. Change ir> sensitive materiats prices, smoothed1 (perceiit)

111. Change in credit outstanding—business and consumer
rate, percent; 11 _i _i

106.

Mon^isupply-M2~in 1972 dollars (bjl. ddQ

1948 49 50 51 52 93 54 55 56 57 58 59 60 61 62 63 64 6S 66 67 68 69 70 71 72 73 74 7S 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, 7 1 , and 72.

BCD

APRIL 1983




13

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A3. Coincident Index Components
(Nov.XOct.)
P T

(Aug.)(Apr.) (Apr.)(Feb.)
PI
PT

(Dec.)(Nov.)
PI

(Nov.) (Mar.)
P T

(Jan.)(,u:y)
P 1

57. Manufacturing and ttf$jg sales,
1972 dolar* U l l ^

134849 50 51 52 53 S4
Current data for these serlus are shi

14



56 57 58 59 60 61 62 63 64 65 Q6 67 68 69 70 71 72 73 74 75 76

7U '/!) H Si &21983
O

n pages 62, 63, and 65.

APRIL 1983

RCII

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A4. Lagging Index Components
(Nov.)(Oct.)
P 1

(July) (May)
P T

(Aug.)(Apr.)
P T

(Apr.)(Feb.)
PI

(Dec.)(Nov.)
• P T

(Urn.) (tor.)
P T

(Jan.)(July)
P T

yment (weeks—inverted scale)
8-

2SE

1012141618-,
28 22-

tant-doUar inventories to safes, itawfacturing

\ '\

1.9 «

l.SU-

1.61.51.4-

62. Labor cost per unit of output, manufacturing-actual data
as p e | | i t of trend (percent)
[ ^

11010510095902018161412-

109, Average prime rate charged by bank£;$6rcent)

1086-

120"
100-

so-

101. Commercial and Hbstrial loans outstandhg
him
(Wars Mdot.)

60-

16T
141210-

X948 49 50 51 52 53 54 SS 96 57 58 59 60 61 62 63 64 09

S7 "68 69 70 71 72 73 74 7S 76 71

81 S21S83

Current data for these series are shown on pages 62, 68, 70, and 73.

K C I I APRIL 1983



15

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS

Chart B l . Employment and Unemployment
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P T

I Employmfj Adjustments |
I . Average workweek,

workers, mantfeeturing (hours)

424140-

39-

21. Average weekly overtime hours, p r o m i f n workers, manufa&tirteg (hours)

2, Accession rate, iiufacturing (per

4-

3"

200-

300-

400SO0UIU-

3. Layoff rate, manufacturing (per

2-

3-

4-J

4, Quit rate, manufacturing
3-t

• $#i
1956 57
m

' .
59

--'I'M60 61

'
62

63

64

, .
uf.
65 66 67

- 1
il^-jfr
68 69 70

71

72

• :L-:-i\:lJl:
73 74 79

76

7B

>*l

M

m '

;'•;• 1 9 8 3

Current data for 1 hese series are shown on page 61.

18.



APRIL 1983

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B l . Employment and Unemployment—Continued
(Aug.) (Apr.)
P T

(Apr.) (Feb.)
FT

(Dec.) (Nov.)
P
T

TV

(Nov.)
P

(Mar.)
T

(Jan.) (July)
P T
i,r~"

IF"
Ratio, help-w
of persons

1.00.60.2
200-1
175150125-

46. Help-wanted advertising (index:

LLrill

100 «
75 J
130170160150140 J
100 - i
9590 <
85 •
807570-

6528272625242322-

40. Employees in
manufacturing, c

2120-

1956 §7

58

if

60

®1

®2

63

S4

70

71

72

73

74

75

76

77

78

79

81

82 1983

Current data for these series are shown on pages 6 1 and 62.

BCD

APRIL 1983




17

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B l . Employment and Unemployment—Continued
(Aug.) (Apr.)
P

(Due.)

(Apr.) (Feb.)

T

P

P

T

(Ht'X)

(lit).) (July)

T

P

I

ICo] : hensive E
;$Satiot civilian employment to total population of

37. Number unemployed, total (

43. Unemployment rate, total (p

45. Average weekly insured unem

t rate (percent4*iWed scale)

i
91. Average duration of unemployment (we^s—inverted

t

,

|i[

44. Unemployment rate, persons unemployeiHl weeks and over;

•Ji j v k

19S6

57

!38

59

60

,

,

—inverted scale)

• • .

SI

SI

63

IM

tK:

1983

Current data for these series are shown on puge 62.

1
8



APRIL

1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income
(Aug.) (Apr.)
P

(Apr.) (Feb.).

T

P

(Dec.) (Nov.)

• P

T

(Nov.)

(Mar.)

P

T

T

(Jan.) (July)
P

T

51. Personal i
< (ann. rate,

cxxi;

19S6 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

81

82 1983

Current data for these series are shown on page 63.

APRIL 1983



19

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income—Continued
(Aug.) (Apr. i

P

(Dec.) JNeu.t
P
I

(Apr.)<reb.)

T

PI

l l n d j j a l Productiagj
47. Industrial production, total (\nm 1967^100) _

i

^

OCX

Industrial production, ( M i r a b i e manufactur

73. Industrial
(index:

. value of
(am. n j t t » . dol.)

83. Rate of capa

82. Rate of capacity u t l i z p g manufacturing (

84. Rate of capacity utiiS&||nf materials, Q (

1956 S7

51
1

59

SO

SI

113

64

6S

71

72

73

74

75

76

11

78

W

81) ;U

« ? 1983
:

Currant data for U eia ttries are shown on pages 63 and 64.

20



APRIL 1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries
(Aug.) (Apr.)
P T

(Apr) (Feb.)
P
T

(Dec.) (Nov.)

P

(Urn.)

(Mar.)
T

J

(Jan.) (July)
P T
100-

!-• •* fOrcliand Deliver

9030-

6. New offers, durable gooch. irxjustries,
eurodollars (bit. d o L ) ^ ^

jf

706050-

„

New orders, durable goods industries. 1972 d
(bil.dol.)
30-

4540353025-

25. Change in unfilled orders,
(bit. dol.; MCD moving av

+61-4+ 20-2-4.
380340300260-

96. Manufacturers' untied orders,
(bit. do].)

220180-

140-

100-

60-

Vendor performance
receiving slower
10075bO-

1

25-

1956 57

58

99

60

61

@
2

63

64

65

66

67

68

69

70

71

72

73

74

79

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 64.

Ben

APRIL 1983




21

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
(Aug.)(Apr.)
P
T

(Apr.)(Feb.)
P
T

(Urn.)
P

(Dec.) (Nov.)

(Mar.)
T

• ( k g (My)
? T

56. Manufacturing and trade
(ULdti.)

19SS $7

m

BB

m

Si

S2

83

64

6B

70

Jl

72

73

74

75

76

77

76

Ii
'j

80

81

Hi! 1983

Current data for these series ar« thovm on page 65.

22



APRIL 1983

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment
(Aug.) (Apr.)
P
T

(Nov.)

(Apr.) (Feb.)
PI

(Mar.)
I

(Jin.) (July)
P T

160140120-

Net business formatiq^dex: 1 9 6 7 - 1

100 65"
5545-

13. New business inco
35-

353025«
20-

for PJant and e

10. Contracts and

Lit

[BtBiiss InvestmdBSftommitments

15-

10-

d orders for plant and
rs(bil.dol.)
v

302S2015-

24. Manufacturers1 new orders, caiflKoods industries,
noridefense, in current dollars ( H i o l )

10-

27, Manufa(^Wfjnew orders, capital
nondefensSi 1972 dollars (bil. dol.)

5-*
10090 «
80706050-

Construction contracts, commj«$and
(mil, sq. ft. of floor area; MCDJljving avg.—6-t

40 -

LC.U
X956 »7 S8

@2

S3

64

SS

66

@7

68

69

30*
70

71

72

73

74

75

76

77

78

79

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.

APRIL 1983




23

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued

11. New capital
Q CM. dot.) rg;

69. Maclmery am! equipment
construction expenditures (

1956 57

58

59

60

U

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

80

31

• ! 1983

Current data for these series are shown on pages 66 and 67.

24



APRIL 1983

IMJI

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P

(Dec.) (Nov.)
P
T

(Apr.) (Feb.)

T

P

T

(Jan.) (July)
P T

200-

[Bujtoss InvestmeqtJflcpenditures—Con.

180 -

. if j .

160-

enttal fixed investment in 1972 dollars, Q (ami.

140120-

100-

83.

Producers' durable
80-

60-

40-

[Re j j j f t t i a l , Const?

Commitments and Investment!
arted, total ( a m i
2.62.42.22.01.81.61.41.21.00.8-

29. New, building permits, priv

ill

200180160140120100-

60 J

89. Residential fixed i « » n e n t , total, in I S f l H i r s , Q
(arm. rate, bl. dol

70605040-

30

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

J

82 1983

Current data for these series are shown on page 67.

INJI

APRIL 1983




25

CYCLICAL INDDCATORS
]| I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. (Inventories and Inventory Investment
(Aug.) (Apr.)
P

P

\':'l

(Dee.) (Nov.)

(Apr.) (Feb.)

T

P

T

| l I If I

T

30. Change in business inventormaR2 Mars, Q

36. Net change in inventories on
(am. rate, bit. dol.; moving

3L Change in book value, manufacturing and tr
(ann. rate, b i dd.; MCO moving avg.—6-t

Change in stocks of materials and supplies on
manufacturing (bil. dd.; MCD moving

19S6 57

59

6D

31

'52

63

64

65

66

67

68

69

70

'I
/

72

73

74

75

76

7/

?H

>3

80

tt
t

«If 1983

'This is a wolghhid 4-term moving average (with weights 1,2,2,1) placed on the terminal month of th@ span.
Current data for these series are shown on page 68,

26



APRIL 1983

BCD

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment—Continued
(Aug.) (Apr.)

(Apr.) (Feb.)

PI

itiv

(Dec.) (Nov.)

FT

P

(Nov.)

(Mar.)

' T

(Jan.) (July)

T

P

T

ries on Ha
•500400-

71. Book value, manufacturing and
current d * r s (bil. dol.)

350*

and; trade inventories, 1972 dollars (bil.

8070-

65. Book value of
of finished gpods

30-

77. Ratio, constant-dollar inventor!
and trade (ratio)

1.8K
1.7"
1.6 «
1.5"
260220200 180160140120-

78. Stocks of materials and supplies on
manufacturing (bil. dol.)

1956

57

58

59

00

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

Current data for these series are shown on page 68.

APRIL 1983




27

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits
(Aug.)(Api.)
P

(Apr.; (Feb.)

T

P

T

e CommodlKWices

98. Change in producer prices fojOp sensitive m a t e n i i
(percent; MCD moving avg.-6-tetW
7 ^ 1 ,

.

.

+4-

+ 2-

3
-4-

99. Change in sensitive materials p H H (percent; movi
avf.-4-term 1 )
+ 20-2-

3401
300260"
220-

23. Spot market prices, raw industrials2 (i

180-

W0 J
1801
160140*
120100-

19, Stock Drices. 500 common

60*

140100-

18. Corporate profits after taxes, 1972
(ami. rate, bl. dot.)

60-

16. Corporate profits after taxes,
(aim. rate, bil. dol.) r r v r

1956 57

58 59

60 il

Q2

63

64 65

66 67

68

69

7C

71

72 73

74 75

76 7

BO

81

J;2 1 9 8 3

'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 Re»oar«h Bureau, Inc.
Current data for these series are shown on page 69.

28



APRIL 1983

sen

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart; B6. Prices, Costs, and Profits—Continued
'.n.pr.v (F'iU
p

*
•
P

:

n-

T

[F'rofljtjt and Profit Margins—Con,
80. Corporate profits after taxes with IVA and CCAdj,
1972 dollars, Q (ann. rate, bil. dol.)

ICcJ
79. Corporate profits after taxes with IVA and CCAdj, ,
current dollars, Q (ann. rate, bi* dol.) i, P l i
i

I^Ll
81. Ratio, c o y o t e profits (after taxes) with inventory valuation and

10-

22* totio, corporate profits (after taxes) to total corporate domestic

*"

jfeome, cr(p«cefitTT

>

15. Profits (after taxgsj per dollar of sales, ^[manufacturini corporatjons, Q (cents)

26. Ratio, price to unit labor cost, nonfarm btfg&ms sector, Q (index: 1977

35. Net cash flow, corporate, in 1372
(ann. rate, bil. dol.)

Net cash flow, corporate, in current dollars, Q
(ann. rate, bil., doi.)

19S6
Current data for these series are shown on pages 69 and 70.

APRIL 1983



29

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)
P
I

(Apr.) (Feb.)
P
I

nipbor Costs « t a b o r Share

E

63. Unit labor cost, private business s # | # T Q
(index: 1977 = 100)

. Labor cost (current dollars) per unit of gross
(1972 dollars), nonfmancial corporations, Q (

62. Labor cost p«r unit of output, manufa

1956 57

SB

59

60

61

©2

S3

64

69

66

67

68

69

70

71

72

73

74

79

76

77

78

72 I O
<- S

81

dS

1983

Current data for these series are shown on pago 7 0 .

30



APRIL 1983

BCD

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chari: B7. Money and Credit
(Aug.) (Apr.)
P-

(Apr,) (Feb.)

T

P

(Dec.) (Nov.)
P

T

T

(Nov.)

(Mar.)

P

T

(Jan.) (July)
P T

85. Change in money supply Ml
(percent; MCD moving avg-—6-term),

102. Change in money supply M2
(percent; MCD moving avg.—6-term)

104, Change in total liquid assets (percent; moving avg.—4-term1)
+1.2*

w*r
105.

+0.8 +0.4-

Money supply—Ml—in 1972 dollars (bif. dol.)

106.

Money s u p p l y - M 2 - i n 1972 dollars (bil. dol.)

107.

Ratio, GNP to moqey supply M l , Q (ratio)

108.

Ratio, personal Ifraome to money supply M2 (ratio)

IVeioflty of Money)

1956 57

98

59

BU

m

82 1983

l

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 7 1 ,

BCII

APRIL 1983




31

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued

33, Change in mortgage debt (ann. rate,fel,0ol.)

112.

113.

Change in business loans (ann. rate, bit. (teA,;
MCD moving avg.—6-term)

TtTMl

Change in consumer installment credit (ann. rale, b i .

111. Change in credit outstanding—Moess and consumer
bofrowine ('ann. rate, oercerrt)
t

110.

Total private borrowing, Q (ann

1956 5J
Current data for these series are shown on puges 71 and 72,

32



APRIL 1983

BCD

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
(tog.) (Apr.)
P T

(Dec.) (Nov.)
P
T

(Apr.) (Feb.)
P T

(Nov.)
P

(Mar.)
T

(Jan.) (July)
P T

[Credit Difficulties]
14. Current liabilities of business failures (ml dol.inverted scale; MCD moving avg.—6-t«rm)

39. Delinquency rate, 30 days and overt cysumer installment loans
(percent—inverted scale)
jiXX I
! .•:
!

93. Free reserves (bil. d<ii>-liverted scale)

94. Member bank borrowing mm
the Federal Reserve (ML doL)

19SS 97
Current data for these series are shown on page 72.

KCII

APRIL 1983




3
3

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P T

119. Federal fumls rate (percent)

114. Treaswy bill rate

116. Corporate bond fields (percent)

115, Treasury bond yields (percent)

118. Secondary market

1996 57

S®
*

5S

6©

mortgagit^fircent)

72

73

74

7U

7B

11

7§

3,983

Current data for thete lerle* are shown on pages VI and 73.

34



APRIL 1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
PI

(Dec.) (Nov.)
P
T

(Nov.)
P

(Jan.) (July)
T

T

67. Bank rates on short-term business l o i i i O (percent^

charged by banks (percent)

11. Commercial and |j|§ftnal loans outs
dolars (b§. dot.) J l i i t

loans outstanding in 1972 defers

95. Ratio, consumer insta

1956 57

58

90

60

61 62

63

64

65

$6

67

68

69

70

71

72

73

74

75

76 77

82 1983

Currant data for tht*« t w i n ara ihown on pag* 73.

APRIL 1983



35

DIFFUSION INDEXES AND RATES OF CHANGE

Chart C l . D i f f u s i o n Indexes

950. Twelve leading indicator components fS-mo. span—, l - t t & j p a n — )
100.

M\ , m
i'<

M i l

n

M

mm\M

951. Four roughly coincident indicator compM^ts (6-mo. span-*^p|*mo. span—-)

50'

952. Six lagging indicator components ( 6 . ^ span—, 1-mo.

$m-—)
100-

0

. Average workweek, production workers, manufatMhg-- 20 industries.ff#w. span— r 1-rno. span—M\
100-

50-

0-

initial claims, State unemployment insurance—51 #*>$ (percent
100-

mmrwmw*

50-

0'

Employees on private nonagricultural payrolls—17|4f|6 industries
100'

50-

s?

SB

e©

fll 3;- 1983

Current data for thoie series are shown on pag«t 74.

36



APRIL 1983

CYCLICl
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C l . Diffusion Indexes—Continued

P

T

P

(Jan.) (July)
P I

T

$64.

965.

Newly approved capital appropriations, deflated—17 industries (4-Q moving a v g . ~ , 1-Q span

|Percent rising!

New orders, durable goods industries—34-35 industries (9-mo. span*— ( 1-mo. s p a n — )

966.

)

Industrial production—24 i n d M e s (6-mo. s p a n - t - , I^mo. s p a n — )

100-

50*

968.

Stock prices, 500 common stocks—49-82 fc^stries (9-mo. span-—, 1-mo. span-—)
100-

50*

960. Net profits, manufacturing—^t>out 600 companies1 (4-Q span)

C-

70-

331956 87

58

7Q

71

1\

'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current diita for these series are shown on page 75.

BCIt

APRIL 1983




3
7

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C l . Diffusion Indexes—Continued
(Nov.)
P

(Jan.) (July)
P T

(Mar.)
T

(NQV.)

AntiAed

IPerceni
•

>

-;*-

(Mar.)

P

T

1 Percent i

%

9 7 1 Stress expenditures tor newttnt and
[;; . ^ * m t n t - 2 2 industries (l-<$fan)
I Actual expenditures
oyets,

(b) Later anticipation!^

40

975. Lev

r;

1 expenditures

mm

• $

[

I^\\J

M

;, manufacturing (4-

976. S^j

.

•

•

"

•

,

•

"

n
1

<

P%!

977 S 0

' ffP ( :es, wholesale trade (4-Q

(4-Q span)'

%

,i M

973. H * t sales,

w
manufactitrifig

and

(4-Q span)

1

/

M

7S

1 iX'*
\*
1

jn

70-

l"

1/

73

s, mamjfacturiof (4-Q t n w

•

iI

72

i

li

1 ii
yM

,

972, :«l profits manufacturmg and

i

mmv^
ii!

VV * •

(c) Eariy iintM^ilU
971^

ntories, mamifacturing and 1 U ( 4

7®

7J

78

79

80

1

oes, retail trade (4 Q j

978.

%'

A

81

V ^
82 1983

1971 72

73

74

75

76

77

78

This It a copyrighted wriet u«ed by ptrraftiion; it may not b« r«produc«d without writUn permlwion from Dun & BradstrMt, Inc. Dun & Bradttrtet diffusion indtx
1,400 butlnou Bx«outfvet.
Current data for these series ar« shown on page* 7(5.

38



> 30
81
*(2 1983
t b**#d on turvtys of about

APRIL 1983

80-

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C3. Rates of Change
(Aug.) (Apr.)

(Nov.)
P

(Apr.) (Feb.)

PI

P T

(Mar.)
T

(Jan.) (July)
P I

1-month jipansli
3-month spans

[Percent change at annual rate

Ijff- M

910c. Composite index of 12 leading indicators

920c. Composite index of 4 roughly coincident indicators
!
'

930c. Composite index of 6

50c. GNP in constant (1972) d o l & f l - Q span)

!i

}

47c. Index of industrial

48c. Employee-hours in nonagricutturai

payments in 1972

1956 57

§8

S©

@
®

SI

§2

@
3

64

65

66

B7

08

©i

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

NOTE: Dal a 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.

APRIL 1983



39

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

Chart A l . '3IMP and Personal Income
(Aug.) (Apr.)
P T

(Apr/

200. GNP in c u f f e n t S B i , Q (aim. rate,

223. Personal income in current dollars

personal income in currd |
Q (ann. rate, bit. dot.)

(ann. rate, bH 4oL)

personal income in 1972
g iann. rate, DH. OM.;

217. Per capita GNP ki 1972 dolars, Q (arm. rttf, thotis. d d )

1956

97

58

59

60

ill

§g

63

64

©9

66

67

68

69

-||

.'•; : 1983

Current data for these series are shown on psgea 63 and 80.

40



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Chart A2. Personal Consumption Expenditures
(Aug.) (Apr.)
P •T

(Apr.) (Feb.)
FT

(Dec.) (Nov.)
P
T

(Nov.)
P.

(Mar.)
T

[Annual rate, billion dollars (current)|

Personal consumption expenditures—

Nondurable goods, Q

|

: ^ .

[Annual rate, billion dollars (1972)|

services, tj

. Nondurable goods, Q

233, DurlNtjoods.ig

S7

§8

S9

SO

61

62

63

64

65

^

81

82 1983

Current data for these series are shown on pages 80 and 81.

APRIL 1983



41

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME: AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
(Aug.) (Apr.)
P T

JAnnuaJ rate, biion M m

on privateflmstfc investment—

242. Totaf tod nvestment, Q

K

/V\

JI

.

_*
>

Annual rate, bibn

1996 57

!58

59

6(1

SI

$Z

63

64

63

66

€7

69

70

71

72

73

74

75

76

11 7%

H
O

HI

i r 1583

Current data for these series are shown on p*&e 81.

42



APRIL 1983

BCII

OTHER IMPORTANT ECONOMIC MEASURES
A

I

NATIONAL INCOME AND PRODUCT—Continued

Chart: A4. Government Purchases of Goods and Services
(Aug.) (Apr.)
P

(Apr.) (Fab.)

T

P

'

(Dec.) (Nov.)

T

P

(Jan.) (July)

T

P T

Annual rate, billion dollars (current) [

L^X'1 Jl U l

1956

57

58 - 59

60

©I

@ 63
2

67

68 69 70 71 72 73 74 75 76 77

Currant datti for these series ere shown on page 8 1 .

APRIL 1983



43

NATIONAL INCOME AND PRODUCT—Continued

C h a r t A 5 . Foreign T r a d e

Annual rate, blon doMars Current) |

252. Exports of goois and services, Q —

250. Net exports of goods and services, Q

[Annual rate, bitfiondola^<1972)[

256, Exports of goodt i N services, lj -**

257, imports of goods m i services, Q

255. Net exports of

Current data for these series are shown on page 82.

44



APRIL 1983

KCII

IA

NATIONAL INCOME AND PRODUCT—Continued

Chart A6. National Income and Its Components
(Aug.) (Apr.)
PI

(Apr.) (Feb.)
P T

(Nov.) (Mac)
P
T

(Dec.) (to.)
?

1

(Jan.) (July)
PI

I Annual rate, billion dollars (current) 1

H h 280. Compensation of employees, Q

286. Corporate profits with inventory valuation and capital consumption adj

Proprietors income with inventory valuation and
capital consumption adjustments, Q

29-

284. Rental income of persons with capital
consumption adjustment, Q
jj

1956 S7

§@ • i §

@
O

il

i2

i

71

72

Current daita for these series are shown on page 82.

BCII

APRIL 1983




45

OTHER IMPORTANT ECONOMIC MEASURES
I A

NATIONAL INCOME! AND PRODUCT—Continued

Chart A7. Saving
(Aug.) (Apr.)

19S6 S7

(Dec.) (NOT.)
P
T

(Apr.) (Feb.)

PI

P T

S.8

S9

60

61

G2

63

©4

69

66

67

68

69

70

(Nov.)
P

71

72

73

(Mar.)
T

74

75

76

77

83,

B2 1983

Current data for !;he*e series are shown on pages 82 and 83.

46



APRIL 1983

OTHER SliPORTA^T ECONOMIC MEASURES
IA

I

NATIONAL INCOME AND PRODUCT—Continued

Chart A8. Shares of GNP and National Income
(Aug.) (Apr.)
P T
£1E
s
.

(Apr.) (Feb.)
P T
:i ~ T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
I

(Jan.)(July)
P T

[PeptofGNPl
70-

235, Personal consumption expenditures, Q
65 •

6020*

2fi& State and local government purchases
of goods and services, Q
|
i
Federal Govtrtement purchases of goods and services, Q
1
1

\

m

248. Nonresidential fixed investment, Q

investment

247. Change in business inventories, Q
^

2 5 1 . Nettexpor|fc^fJoods and Services, Q

e j M o f NationaTWpome
64. Compensation,^! employees, Q

Proprietors' Income with inventory valuation
;; and capital* «$mumptton adjustments, Q
SET. Corporate profit^ vro| inventory valuation and
capital consumptkm adjustments, Q
I
10-

285. Rental income of persons with capital consumption adjustment, Q

1956 57

BB

Current data for these series are shown on page 83.

BCD

APRIL 1983




47

R mmmimt
B

I

ECONOMIC MEASURES

PRICES, WAGES, AND PRODUCTIVITY

Chart B l . Price Movements
(Nov..)

(Jan.) (July)

(Mar.)

i3

T

P

T

Index: 1972 - 1 0 0

310. Implicit ptfee deflator, GNP,

310c. Implicit poce deflator,
GNP (1-Q span)

Q

[Percent change at annual rate |
+15-

+:o«

160
140 ^

Tllc!"Fixed wetted* price index, "gross"busineirpl^duct (1-Q iparij

2M*\

+S«

E

311. Fixed-wetghted price index,
gross business product, Q *"*

160-

Producer prices—

|e-month spans ]
330c. AIT commodities

(index: 1117^1001

'xr

Producer prices—
330. AH cormnoltfes"

^ T in

lioJ
340 •
328

y

335.

-£•

31
3c

fir
_/r^ VjV^v

z

331.

+80-

_H

S2^

;
|
?

lil/v

32©'

Crude materials

A

+30-

A/s

/V\

+ 10-

•••1

3

\J

332c. Intermediate

.200-

X ^
•#30-

ja

4 20*

333. Capital equiprnwrt

X

0J

334c. Finished consumer goo#

!

^

3
7$

7%

n

3.? i9»3

Current data for these series are shown on pagos 84, 85, and 86.

48



APRIL 1983

BCII

:e©i©sifle

MEASURES

PRICES, WAGES, AND PRODUCTIVITY—Continued

Chart B l . Price Movements—Continued
(Aug.) (Apr.)
P

(Apr.) (Feb.)

T

P

(Dec.) (Nov.)

T

(Nov.)

(Mar.)

P

P

T

(Jan.) (July)
T

I Percent change at annual rate
320c. All items (S-tnonth span)

Chart B2. Wages and Productivity

[Index: 1977 — 1004
341. Real average hourly earnings of production
workers, private noafarm economy1

Kverage hourly earnings ofprocTuction workers,
private nonfarm economy (current dollars)

346. Real average hourly compensation, all employees,
nonfarm business sector, Q

. Average rkhtrjy compehsalionTaT"employees,"
nonfarm business sector, Q (current dollars)

1§S6 §7
'Adjusted for overtime (in manufacturing onfy) and interindustry employment shifts and seasonally.
Current data for these series are shown on pages 84, 87, and 88.

itcn APRIL 1983



49

OTHER IMPORTANT (ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
(Aug.) (Apr.)
T

(Apr.) (Feb.)
P
T

6-month spans ( m rate)
in averap hourly earnings of production
, private W$*m economy1—

340c. CufNfy-dollar earnings

ti$j£jge In averafi fNnrly compensation, alJ employees,
n i m n n bushes* uttor, Q—

6-month s p i f (ann. rate)

1-quarter spam {arm. rate

Current-dollar compensation

34$c. Real compensation
i-quarterj spans ^ann. raw;

I

Mmtiated wageniM benefit decisions, al industries
3 4 4 First year average changes, Q (arm. rate)
Average changes over fife of
contract, Q (ann. rate)

358. Output per hour, all persons,
rtonfaml."business sector, Q
i Output p # iffur, all persons,
private business sector, Q
370c. Change in output per hour, private fewness sector, Q

..• \ . ' . , R J L I I
.;.
...

1956

§7

Bi

j

Si

SO

61

®%

§3

64

©§

i©

SJ

68

69

70

71

72

73

74

7S

76

77

7%

1%

80

J1
3

» » 1983
:

'Adjusted for overtime ( manufacturing only) and Interindustry employment shifts and seasonally. 'One-month percent changes have oeen multiplied by a constant (12) to make them
j
(in
g
y)
y
py
y
comparable with the annuitized 6-rnontli changes. See pa
" "
'
6-month
page 87 for actual 1-month percent changes.
Current data for th » e series are shown on pagos 87 and t
f
i
h
nd 88.

50



APRIL 1983

KCII

OTHER IMPORTANT ECONOMIC MEASURES
C

LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

Chart C l . Civilian Labor Force and Major Components
(Aug.) (Apr.)
P T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Jan.) (July)

(Mar.)
T

P T
120-1
110100-

80-

nJ
participation rates (percent)—
90*
85 «
8075 «
60§590-

40

J

14-

Number Employed (millions ) -

12108-

2-

6. Both sexes jjE£SJ; years of age
12-

108-

4-

2-

1956 !>7

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

81

82 1983

Current data for these series are shown on page 89.

BCII

APRIL 1983




51

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Chart D l . Receipts and Expenditures
(Aufi.)(Apr.)

(Dec.) (Nov.)

(Apr.) (Feb.)

I

P

FT

T

(Now.) ( f e . )
P
T

rate, bBon dollars

502. Federal Governmeat

501. Federal Government re'fcffcis, Q

500. Federal Government surplus or de#dtf Q

511. State and local government receipts, Q

* j

510. State and local government surplus or deficit, Q

198® 57

IB

9i

fl2

U

1983

Current data for those series are «hown on page i)O,

52



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued

Chart D2. Defense Indicators
(Aug.) (Apr.)

(Apr.) (Feb.)

PI

P

y"

(Dec.) (Nov.)
P
T

T

(Nov.)
P

(Mar.)
T

(Jan.) (July)
P I

T

30-

Activity |

26221814-

517. Defense Department gross obfigations incurred
(bil. dol,; MCD moving avg,—6»term)

525. Defense Department military p p | contract awards
(bil. dol.; MCD moving a v g . # t e

543. Defense Department gross ung^t&obligations outstanding (bil. dol.)

3!

SO^
12-1
11.

K

i

•

u-

k...

5-

548. Manufacturers' new orders, defense products
(bil. dol.; MCD m o t i t avg.-6-term)

3«

;?' ii;

9
1956 «I7

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72 73

SI

82 1983

Current data for these series are shown on page 90.

APRIL 1983



5
3

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators-Continued
(Aug.) (Apr.)
P T

.,,

C%)

(Dae.) (Nov.)
P
I

1
;

| Intermediate and S m Measures of Defense Activity |

11

;
1

(Apr.) (F@li.)
P
T

'

.

•

1'i

5571 Output o f | » n s e and space

t (index: 1967-100)

s, defense fflps (bil.dol.)

561. MaiwfacturersHBM orders, defei

580. Defense Departnfpet outlays, m l t ^ p j i t i o n s and miHtary
assistance (bit ^ § M C O moving a v g . | ^ ^

588. Manufacturers
(bil. dol.;MC

S9

60

61

82

63

64

09

66

67

68

69

, defense
avg.—4-t

70

1\

72

73

74

75

76

11

7©

?*)

rO
S

*3
S

£i-

1983

Current data for these series are shown on ptige 9 1 ,

54



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
(Apr.) (Feb.)
P
T

(Aug.) (Apr.)
P T

(Nov.)
P

(Mar.)
T

(Jao.){JyIy)
P T

iate and M i Measures of Defense Activity—Con. [
570, Employment in defense products industries
1.81.6'
1.4-

1.0-

Defense Department
577. M i H t a r y , » e duty

3.02.5-

2.0-

578. Civilian, dir
1.5-

1.0*

0.5 J
220<i
290180*
160140-

5641 Federal Government P p i a s e s of goods and services fm natbnal
defense, Q ( a n n . r a t « d o i . )

120100-

80«

60-

40 J

565. National defense
10S87651
1

1956 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

iJLJl
7®

SO

31

32 1983

Current data for these series are shown on page 91.

APRIL 1983




5
5

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS

Chart E l . Merchandise Trade
(Aug.) (Apr.)
P
T

(Dec.) (Mtsv.)

(Apr.) (Feb.)
P
?

iN'y.)
n

602.

(to.)
T

Exports, excluding military aid shipments
(bill, dot.; MCD moving avg»<~5-term)

604.

Exports of agricnR»rai products,

total <bil. dol.),

606. Exports of nonelectrical machinery (bil dol.$*

612. General imports (bit. dot.; MCD moving avg.-4-term)

614. Imports of petrole^ and petroleum pr(wtets <bH. dol.)

616. Imports of automobiles and p i

1956 57

58

S9

110

il

62

S3

Current data for these series are shown on page 92.

56



APRIL X983

U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
(Aug.) (Apr.)
P

(Apr.) (Feb.)

T

P

(Dec.) (Nov.)

T

P

T

(Nov.)

(Mar.)

P

T

(Jan.) (July)
P

I

.: .
'•

•

-

•

(

>

1

Annual rate, billion dotes I

1'"

Excess of receipts

!

rtl

payments

667. Balance on goods and services, Q

668, Exports, 0 - ^
"^ 669. Imports, Q

f^erchandise, adjusted—

622. Merchandise trade balance, Q

618. Exports, Q

£

651. Income on U.S. investments abroad, Q

income on foreign investments m tne u.y

SI

82 1983

NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.

APRIL 1983




57

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS

Chart F l . Industrial Production
(Aug.) (Apr.)
PI

(Apr.) (Fet.)
PI

721. OECD European countries

1956 57

58

59

60

61 62

S3 64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

7B 80

Rl

!:«» 1983

Current daU for these series are shown on page !)4.

58



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
F

I

INTERNATIONAL COMPARISONS—Continued

Chart F2. Consumer Prices
(Nov.)
P

Chart F3. Stock Prices
(Ian.) (July)
P T

(Mar.)
T

(Nov.)
P

(Mar.)
T

[j'ercent change at annual rate
Consumer prices—

300 q
260+ 10-

! ! ! w. Canada

220 •

140-

I

ij

1971 72

il

i[
73

(•
J4

7S

i

II - • I
Jg

77

i!
78

I
79

1/

jjH. llfflilh : |
80

81

82 1983

1971 72

73

74

75

76

77

1
78

•!::.;• !

79

Current d«ta for then series ere shown on pages 95 and 96.

APRIL 1983




59

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS

Q |

Year
and
month

910. Index of
12 leading indicators (series ;
1, 5 , 8 , 12, 19,
20, 29, 32, 36, i
99, 106, 111)

(1907-100)

920. Index of
4 roughly
coincident indicators (series
41, 47, 51, 57)

930. Index of
6 lagging indicators (series
62,77, 91,
95, 101, 109)

(1967 = 100)

(1967-100)

940. Ratio,
coincident
index to
lagging index

COMPOSITE INDEXES
Leading indicator sjbgrnups
913. Marginal
employment
adjustments
(series 1, 2, 3,
5)

914. Capital
investment
commitments
(series 12, 20,
29) l

(1967 = 100)

(1967-100)

(1967 = 100)

915. Inventory
916. Profitinvestment
ability (series
and purchasing
IS, 26, H )
O
(series 8, 32, 35,
99)
(1967-IOC)

(1967 100)

917. Money
and financial
flows (series
104, 106, 111)

(1967 100)

1981
January
February
March .

142.1
140.4
141.7

146.8
147.2
147.2

121.7
120.7
119.0

120.6
122.0
0)123.7

94.2
94.1
94.1

110.7
109.3
109.8

100.5
100.8
100.7

98.2
98.8
99.0

122.2
122.1
122.2

April
My
a
June . .•

144.fi
144.5
143.J!

147.1
146.9
147.5

119.0
122.2
122.4

123.6
120.2
120.5

94.9
94.2
94.5

110.5
109.3
107.3

101.8
102.5
102.6

98.7
98.1
98.4

123.5
123.2
123.1

July
August
September

142.9
142.4
139.3

fi>147.6
147.3
146.5

122.5
123.3
124.7

120.5
119.5
117.5

E>95.0
93.6
91.4

107.1
107.0
106,3

IB) 102.6
102.1
101.2

98.2
98.5
96.9

123.3
123.8
122.9

October
November
December

136.9
137.0
136.;?

144.5
143.0
140.9

125.0
124.5
124.4

115.6
114.9
113.3

90.5
90.3
89.3

104.3
105.4
105.1

99.8
98.7
97.3

96.9
97.1
96.?

121.7
122.2
122.2

©126.1
125.3
125.1

109.8
111.7
111.3

(NA)

104.2
104.2
104.0

96.7
96.!i
96.6

94.5
93.2
92.6

123,3
122.1
122.2

93.1
93.0
)2 4

123.0
rl22.4
rl22 2

1982
January
February
March

S

135.1
135.7
134.7

138.4
139.9
139.2

April
May .
June

r136.0
rl36.il
135.8

138.0
138.8
137.2

rl25.9.
rl25.1
124.8

rlO9.6
1*111.0
109.9

rlO4.9
rlO4.3
rlO3.3

96.4
97.1
97 1
5

July
August
September

rl36.6
rl36.3
rl38.()

136.3
135.2
134.3

124.1
122.2
121.3

109.8
110.6
110.7

rlO4.1
rlO2.9
rlO3.7

98.0
98.3
98.8

92.7
93.0
P94.6

122.5
rl24.5
124.2

October
November
December . .

r139.1
139.6
rHl.l

132.2
132.3
132.1

rl20.5
118.2
rll6.6

rlO9.7
111.9
rll3 3

rlO5.1
rlO5.4
rlO7 2

98.4
97.5
96 5

^95.7
•*<)6.3
<)7 1

122.7
rl22,5
r!23 5

rK5.6
147.(5
El)'149.8

rl33.8
1*33.1
s
134.0

H15.2
115.4
6
114.2

rll6.1
rll5.3
P117.3

rlO7.3
rlO7.9
P108.4

r97.3
r98.8
plOQ.l

. .

(

1983
January
February
March

98.5 1
[H)p99.!>
{NA)

rl30.2
[H)rl32.5
pl32.0

April
My
a
June
July
August
September
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 |H); for series that movu counter to movements
in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or order. Complete tit es anc sources an; listed at the back
of Shis 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.
Series 914 reached its high value (111.8) in September 1980.
See "New Features and Changes for This Issue" on page iii of the February 1982 issue.
includes a substitute value for series 1. See "New Features and Changes for This Issue" on page iii of the March 1982 issue,
''Excludes series 36, for which data are not available.
'Excludes series 57, for which data are not available.
Excludes series 77 and 95, for which data are not available.
x

a

60



APRIL 1983

ICO

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS

MAJOR ECONOMIC
PROCESS

0 1

Minor Economic
Process
Timin|j Class . . . . . .

L.L.L

L,C,L

1. Average
workweek of
production
workers,
manufacturing

21. Average
weekly overtime
hours, production workers,
manufacturing
(Hours)

L,L,L

2. Accession
rate, manufacturing l

(Per 100 employees)

L P C,L

5. Average
weekly initial
claims, State
unemployment
insurance 2

t3)

1981

L, LP L

3. Layoff rate,
manufacturing

L, Lg, U

4. Quit rate,
manufacturing

(Per 100 employees)

(Per 100 employees)

n

(Thous.)

Comprehensive
Employment

Job Vacancies

Marginal Employment Adjustments

(Hours)

Year
and
month

EMPLOYMENT AND UNEMPLOYMENT

I, Lg, U

L. Lg, U

U.C.C

60. Ratio, helpwanted advertising to persons
unemployed *

46. Index of
help-wanted
advertising
in newspapers1

48. Employeehours in nonagricultural
establishments

(Ratio)

(1967-100)

(Ann. rate,
bil. hours)

C3)

Revised* 1

E>40.4
39.7
39.9

3.0
2.8
2.8

3.5

424
410
413

1.4
1.3
1.3

1.4
1.4
1.3

0.474
0.478
0.467

128
129
125

H>171.34

3.5
3.4

April
May
June

40.1
40.2
40.1

3.0
B>3.1
3.0

3.4
3.1
3.4

395
401
405

1.1
1.3
1.3

1.3
1.3
1.4

0.447
0.432
0.448

118
118
121

169.54
170.75
170.66

July
August
September

40.0
39.9
39.4

3.0
3.0
2.7

3.4
3.2
2.9

D395
421
483

H>i-o

Di.5

1.4
1.7

1.3
1.3

0.466
0.440
0.403

123
119
112

171.00
170.91
167.29

October
November
December

39.5
39.3
39.1

2.7
2.5
2.4

2.9
3.1
2.7

517
539
551

2.2
2.3
2.2

1.2
1.1
1.1

0.378
0.366
0.346

110
109

169.66
168.68
168.56

January
February
March

37.6
39.4
39.0

2.3
2.4
2.3

(NA)

563
514
566

(MA)

(NA)

0.338
0.317
0.289

106
103 '
96

165.54
168.82
167.81

April
May
June

39.0
39.1
39.2

2.4
2.3
2.4

566
585
551

0.255
0.249
0.242

88
87
85

167.12
167.88
166.40

July
August
September

39.2
39.0
38.8

2.4
2.4
2.3

533
605
653

0.228
0.212
0.192

83
78
73

166.04
165.50
165.48

October

38.8
38.9
38.9

2.3
2.3
2.3

651
616
531

0.195
0.195
0.205

76
78
83

164.27
163.32
164.13

39.8
r39.1
p39.6

2.3
r2.3
p2.6

507
478
479

0.216
0.215
pO.217

83
83
p83

165.80
163.80
P164.84

January
February
March

in

170.18
170.74

1982

December
1983
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 12, 16, and 17.
'The following series reached their high values before 1981: Series 2 (3.7) in October 1980, series 60 (0.497) in November 1980, and
series 46 (134) in November 1980. aData exclude Puerto Rico, which is included in figures published by the source agency. 9See "New
Features and Changes for This Issue" (item 2) on page iii of the February 1982 issue.
''See "New Features and Changes for This Issue,"
page iii.

IICII APRIL 1983



61

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

MAJOR ECONOMIC
PROCESS

Q |

Minor Economic
Process

EMPLOYMENT AND UNEMPLOYMENT-Continued

Comprehensive Unemployment

Comprehensive Employment—Continued
IJ, 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)

Timing Class

Year
and
month

L, Lg, U

L,Lg,U

37. Number of
persons unemployed, labor
force survey

43. Unemployment rate,
total

45. Average
weekly insured unemployment rate,
State programsl

(Thous.)

(Percent)

(Percent)

L, Lg, U

Lg, Lg, Lg

Lg, Lg, Lg

unemployment

44 Unemployment rate,
persons unemployed 15
weeks and over

(Weeks)

(Percent)

91. Average
duration of

1981

96,!>44
96,803
97,148

90,909
90,913
91,014

25,588
25,501
25,588

58.38
58.43
58.58

8,048
8,032
7,967

7.5
7.4
7.3

3.5
3.4
3.4

14.3
14.0
13.9

2.2
2.2
2.1

97,487
E>97,!)97
97,033

91,099
91,131
91,286

25,534
25,540
25,656

[H)58.80
58.72
58.31

7,860
8,133
8,047

7.2
7.5
7.4

3.3
3.3
3.2

13.7
13.5
14.1

2.0
2.0
2.1

July
August
September . . .

97,428
97,313
,96,746

[H>91,396
91,322
91,363

E>25,718
25,637
25,583

58,44
58.36
57.94

E>7,854
8,053
8,271

1)7.2
7.4
7.6

3.2

H>3.2

14.0
14.3
13.6

2.0
^2.0
2.1

October
November . . .
December . . .

96,981
96,840
96,458

91,224
90,996
90,642

25,393
25,176
24,908

58.02
57.88
57.51

8,673
9,025
9,389

8.0
8.3
8.6

3.5
3.S
4.1

13.5
13.2
E>12.9

2.1
2.2
2.2

January
February
March

96,309
96,328
96,230

90,460
90,459
90,304

24,684
24,631
24s450

57.46
57.41
57.29

9,346
9,669
9,881

8.6
8.8
9.0

4.1
4.1
4.3

13.4
14.0
13.9

2.2
2.5
2.7

April
May
June

96,128
96,548
96,310

90,083
90,166
89,839

24,289
24,255
23,994

57.17
57.40
57.17

10,256
10,384
10,466

9.3
9.4
9.5

4.5
4.5
4.5

14.3
14.9
16.3

2.8
3.0
3.2

July
August
September . . .

96,143
96,254
96,180

89,535
89,313
89,264

23,840
23,657
23,530

57.06
57.06
56.92

10,828
10,931
11,315

9.8
9.9
10.2

4.5
4.7
5.0

15,
16,
16.6

3.2
3.3
3.5

October
November . . .
December .. .

95,763
95,670
95,682

88,877
88,750
88,565

23,239
23,081
22,986

56.65
56.57
56.50

11,576
11,906
12,036

10.5
10.7
10.8

5.2
5.0

17.
17.
18.0

3.8
4.1
4.3

95,691
95,670
95,729

r88,920
r88,735
p88,854

r23s162
23,018
p23,025

56.46
56.38
56.36

11,446
11,490
11,381

10.4
10.4
10.3

4.5
4.S
p4.4

19.4
19.0
19.1

4.2
4.2
4.2

January
February
March.:....
April
May
June

3.3

1982

1983
January
February
March

April
May
June
July
August
September . . .

October
November . . .
December . . .
Seu note on page 60.
Graphs of these series are shown on pages 14, IS, 17, and 18.
x
Data excluds Puerto Rico, which is included in figures published by the source agency.

62



APRIL 1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

' MAJOR ECONOMIC
PROCESS

^ 9

Minor Economic
Process

Industrial Production

Comprehensive Output and Income

c, c, c

c. c, c

Timing Class

Year
and
month

PRODUCTION AND INCOME

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

(Ann. rate,
bil. dol.)

C, C.C

47. Index of
industrial
production,
total

(1967 = 100)

C, C, C

73. Index of
industrial
production,
durable manufactures

(1967 = 100)

C, L, L

74. Index of
industrial
production,
nondurable
manufactures

(1967 = 100)

C, C, C

49. Value of
goods output
in 1972 dollars

(Ann. rate,
bil. dol.)

1981
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)234.3
232.2
231.9

151.4
151.8
152.1

141.0
140.8
142.1

165.6
166.2
165.3

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

231.6
231.5
232.1

151.9
152.7
152.9

142,
143.
143,

165.9
166.4
165.8

July
August
September . .

10)1,510.4

2,436.3
2,459.6
2,478.6

1,248.1
1,253.6
1,253.1

1,071.8
1)1,078.3
1,077.9

231.8
231.2
228.9

0)153.9
153.6
151.6

0)143.6
143.4
140.9

167.1
E)167,
165.

E)697.2

October . . . .
November . ,
December . ,

1,490.1

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
226.2
223.2

149,
146.
143.4

137.8
134.4
131.3

162.
160.
157.4

678.0

January
February
March

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

222.4
223.8
221.7

140.7
142.9
141.7

127.1
129.3
128.2

155.1
157.8
157.3

661.8

April
May
June

1,478.4

2,535.5
2,556.2
2,566.3

1,249.6
1,256.7
1,248.8

1,070.3
1,077.4
1,070.3

220.9
220.1
217.3

140.2
139.2
138.7

126.7
126.1
125.5

156.1
155.0
155.3

663.2

July
August
September . . .

1,481.1

588.3
592.0
597.2

1,251.0
1,248.6
1,245.1

1,067.5
1,065.4
1,061.3

215.5
213.6
212.1

138.8
138.4
137.3

125.9
124.9
, 123.5

155.7
156.9
156.7

665.1

October
November . . ,
December . . .

1,477.2

2,609.4
2,627.7
2,635.0

1,242.6
1,251.3
1,254.2

1,055.6
1,061.0
1,063.2

209.4
208.5
208.9

135.7
134.9
135.2

120.3
119.3
rll9.9

156.2
155.3
rl55.6

655.3

r2,641.7
r2,644.3
[H>P2S658.9

rl,252.6

pi ,488.5

rl,252.6
!>pl,258.4

rl ,065.5
1,065.6

r212.4
r212.7
p212.7

rl37.2
rl37.6
P139.1

rl22.3
rl23.5
pl25.3

rl57.3
rl57.5
pl59.2

p660.2

692.8

1982

1983
January
February
March

pi,070.8

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.

APRIL 1983




6
3

CYCLICAL INDICATORS
B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS .
Minor Economic
Process

Capacity Utilization

Timing Class . . . . . .

Year
and
month

j Q

E 9 | PRODUCTION AND INCOME—Continued

LtCr U

83. Rate of
capacity
utilization,
manufacturing
(8EA)
(Percent)

Orders and Deliveries
L, C,U

82. Rate of
capacity
utilization,
manufacturing
(FRB)

84. Rate of
capacity
utilization,
materials

(Percent)

(Percent)

CONSUMPTION, TRADE, ORDERS, AND DELIVERIES

L,L, L

L, L, L

Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil. dol.)

Lt 1., L

L, L, L

I Lg, U

L, L,L

32. Vendor
performance,
companies receiving slower
deliveries ©

7. Constant
(1972) dollars

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

(Bil. doi.)

(Bil. dol.)

(Bil. d o l i

(Bil. dol.)

(Percent
reporting)

1981
.9

D82.2

'82.53
82.70
83.86

38.23
38.15
38.45

33.08
34.36
33.88

1.10
0.52
0.35

311.15
311.67
312.02

46
50
52

April
May
June

79.8

81.2

86.41
87.40
86.91

39.28
E>39.51
39.03

34.54
E>35.07
35.01

1.62
1.95
0.02

313.64
315.60
315.62

52
48

July
August
September . . .

79.3

81.1

0)87.58
84.82
84.46

39.12
37.70
37.42

34.66
33.11
32.83

1.84
-0.40
-0.22

317.0(5
316.84

46
48
43

October
November . . .
December . . .

74.8

75.2

77.19
78.59
76.42

34.08
34.47
33.47

30.75
30.05
30,05

-2.71

33 2.77
311.08
308.37

38
32
30

January
February
March ,

78

72

>

1982
January
February
March

72

April
May
June

71

71.6

October
November . . .
December . . .

75.06
76.31
77.86

32.82
33.37
33.98

28.82
29.24
30.23

-0.49
-1.67
-0.26

307.88
306.21
305.95

32
36
35

70.3

July
August
September . . .

72.0

69.6

76.19
75.71
74.55

33.20
32.87
32.23

29.10
30.53
30.07

-0.94
-3.81
-4.33

305.OC
301.19
296.87

31
30
38

69.7

68.1

76.45
72.98
73.27

33.01
31.50
31.54

30.74
29.68
29.67

294.27
290.01
286.71

37
40
40

67.6

65.8

69.60
70.61
76.59

29.93
30.25
32.75

27.70
r28.12
28.21

3.22

283.96
281.86
285.08

44
40
38

80.92
r78.08
P78.34

34.66
r33.16
P33.22

31.22
r31.49
p30.23

0)3.67
r0.46
p-0.77

288.75
r289.21
p2B8.44

41
42
50

69

p68

1983
January
February
March

p68.8
(NA)

p67.8

April
May
June
July
August
September . . .
October
November . . .
December . . .
See note on page 00.
Graphs of these suries are shown on pages 12, 20, and 2 1 .

64



APRIL 1983

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

| £ |

Minor Economic
Process

c, c,c

C, C, C

Manufacturing and trade sales
57. Constant
(1972) dollars

56. Current
dollars
(Mil. dol.)

(Mil. dol.)

C, L, U

C L,C

75. Index of industrial production, consumer
goods

U, L, U

Sales of retail stores
54. Current
dollars

(1967=100)

(Mil. dol.)

FIXED CAPITAL
INVESTMENT

Formation of Business Enterprises

Consumption and Trade

Timing Class

Year
and
month

f l |
H I

CONSUMPTION, TRADE, ORDERS, AND DELIVERIES—Continued

59. Constant
(1972) dollars
(Mil. dol.)

L,C,C

55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil. dol.)

L, L, L

58. Index of
consumer,
sentiment @

(1st Q
1966=100)

L, L, L

12. Index of
net business
formation *

(1967=100)

L, L, L

13. Number of
new business
incorporations

(Number)

2

Revised
1981

146.9
147.8
148.3

85,355
86,058
86,978

45,571
45,654
H)45,874

71.6

71.4
66.9
66.5

121.6
120.7
120.8

46,039
48,588
47,972

161,180
160,775
H>161,968

148,
150,
150.

86,746
86,939
87,948

45,512
45,375
45,759

63.0

72.4
76.3
73.1

121.9
119.1
117.3

49,413
48,997
49,172

358,632
357,921
356,660

160,810
159,755
159,193

149

45,377
45,737
45,323

71.5

147.8

87,759
88,775
88,562

74.
77,
73.

118.2
118.7
117.6

49,038
48,631
48,450

349,772
347,319
343,741

155,344
155,069
153,281

146.5
144.0
142.0

87,231
87,358
87,409

44,506
44,480
44,415

62.8

70,
62.
64.3

114.8
117.4
115.2

47,947
49,413
47,556

January
February
March

338,271
343,090
344,417

150,131
153,317
153,878

139.6
141.8
141.5

86,542
88,049
87,701

43,642
44,492
44,361

68.0

71.0
66.5
62.0

113.2
115.6
113.5

43,330
47,234
46,899

April
May
June

341,930
350,931
348,141

152,207
155,982
153,903

142.1
143.6
144.8

88,468
90,813
88,603

44,726
45,750
44,235

67.8

65.
67.
65.

rll5.2
rll4.7
rll2.3

46,876
46,995
45,936

July
August
September

346,641
342,029
341,702

153,618
151,683
151,612

145.8
144.1
143.4

89,469
89,069
89,897

44,490
44,247
44,548

69.5

65,
65.
69.3

rll2.0
rill.8
rllO.l

44,525
46,981
45,552

October
November
December

335,184
336,747
336,663

148,436
150,225
150,560

142.2
141.3
rl42.0

90,905
|H>92,492
92,459

44,847
45,765
45,817

0)78,3

73.4
72.1
71.9

rill.3
rll2.7
rlH.l

45,530
48,474
0)57,507

343,690
p339,132

rl54,634
pl52,662

(NA)

r92,295
r91,197
p91,515

r45,645
r45,169
p45,237

P78.2

(NA)

rl43.6
rl44.2
P145.3

70.4
74.6

January
February
March

353,785
353,633
354,712

160,549
160,469
160,614

356,418
357,223
H>359,187

Ju/y
August
September
October
November . . .
December . . .

April
May
June

1982

1983
January
February
March

0)80.8

(NA)
rll5.3
pll6.6

April
May
June
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23.
Series 12 reached its high value (122.7) in December 1980.
2
See "New Features and Changes for This Issue," page iii.

APRIL 1983



65

CYCLICAL INDICATORS
B I CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process

Business Investment Commitments

Timing Class

I, I, L

L.L.L

Contracts and orders for plant
and equipment
Year
and
month

FIXED CAPITAL INVESTMENT-Continued

10. Current
dollars

(Bil. dol.)

20. Constant
(1972) dollars1

(Bil. dol.)

LL.L

Value of manufacturers', new orders,
capital goods industries, nondefense
24. Current
dollars

(Bil. dol.)

L, C, U

L, L, L

27. Constant
(1972) dollars1

(Bil. dol.)

U, Lg, U

9. Construction contracts for commercial and industrial buildings 13
Square feet of
floor space

(Millions)

Square meters of
floor space3

(Millions)

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.)

1981
28.70
25.75
28.23

14.91
12.76
14.20

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

H>30.24
28.54
28.38

15.03
14.29
14.02

E>25.69
24.49
24.04

13.05
12.53
12.14

79.64
84.75
81.01

7.40
7.87
7.53

[H)28,Q6

July
August
September . . .

23.62
213.27
27.92

13.65
14.30
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 . . .

26.96
27.88
25.66

13.58
14.31
13.91

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

26.62
28.51
r26.41

13.40
13.49
rl3.29

21.72
21.56
22.17

11.32
10.54
11.49

58.18
63.29
61.15

5.40
5.88
5.68

25.77

April
May
June

25.48
23.33
23.31

13.76
11.56
11.08

22.61
20.33
19.28

12.54
10.28
9.35

58.93
53.71
64.87

5.47
4.99
6.03

19.33

July
August
September . . .

23.33
23.03
24.54

10.96
11.30
12.25

20.32
18.89
20.27

9.68
9.53
10.43

57.80
59.78
55.95

5.37
5.55
5.20

18.48

October
November . . .
December . . ,

23.51
23.82
24.84

r!2.00
rll.43
rl3.04

20.18
20.17
20.15

10.57
9.88
11.06

54.65
50.69
49.55

5.08
4.71
4.60

p21.52

23.31
r23.80
p23.30

rll.80
rll.46
P12.09

20.47
rl8.77
P19.53

10.63
r9.39
plO.54

66.89
57.77
52.65

6.21
5.37
4.89

(NA)

January
February
March
April
May
June

93.44

96.18

E>97.34

92.74

1982
January
February
March

91.11

82.82

74.29

P71.15

1983
January
February . . . .
March

(NA)

April
May
June
July
August
September . . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages, 12, 23, and 24.
l
The following series reached their high values before 1981: Series 20 (15.66) in December 1980, series 27 (14.12) in December 1980, and
a
series 9 (90.80 square feel: and 8.44 square meters) in November 1980.
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



APRIL 1983

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process
Timing Class

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. dot.)

Year
and
month

FIXED CAPITAL INVESTMENT-Continued

(Ann. rate,
bil. dol.)

(1967-100)

C, Lg, C

Lg, Lg, Lg

C Lg, C

Nonresidential fixed investment in 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.)

1981
January . .
February .
March . . .

312.24

332.78
331.57
344.52

177.7
177.5
179.3

169.7

49.5

120.1

1,588
1,279
1,305

99.8
96.6
94.7

49.6

April
May . . , .
June

316.73

344.36
345.78
353.20

181.0
182.0
183.6

170.1

51.0

119.1

1,332
1,150
1,047

95.8
95.2
79.6

47.3

July . . . .
August . .
September

E>328.25

348.42
357.31
ED360.38

H>184.8
184.4
182.7

173.9

52.5

H>121.4

1,035
949
900

76.0
70.9
67.4

42.9

October . .
November
December

327.83

349.27
358.67
356.78

180.5
179.0
179.0

E>174.2

53.3

120.9

866
839
906

59.6
60.0
64.4

39.9

January .
February
March . .

327.72

330.07
342.57
343.72

172.2
171.6
169.0

172.0

53.5

118.5

877
911
920

64,
64,
68.

38.9

April . . . .
May
June . . . .

323.22

325.51
335.59
331.34

164.9
159.9
156.7

166.7

1)53.7

113.0

911
1,028
910

71.0
76.3
75.0

40.1

July . . . .
August . .
September

315.79

323.71
314.09
320.97

154.9
153.9
150.5

163.4

53.0

110.4

1,185
1,046
1,134

85.8
71.7
81.0

39.5

October . .
November
December

302.77

309.21
310.90
316.21

147.1
146.4
rl48.1

160.9

52.3

108.6

1,142
1,361
1,280

94.7
96.3
105.4

42.9

January . .
February .
March . . .

a302.25

r308.86
P305.24
(NA)

rl46.5
rl43.3
pl43.9

pl62.0

P53.0

pl09.0

rl,694
!>rl,775
pi ,611

119.4
0)120.6
117.9

E>p49.9

April
May , . . .
June

a302.20

1982

1983

July . . . .
August . .
September
October . .
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.

ItO

APRIL 19ao




67

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process
Timing Class

Year
and
month

INVENTORIES AND INVENTORY INVESTMENT

Inventories on Hand and on Order

Inventory Investment

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

(Ann. rate,
bil. dot.)

Monthly
data
(Ann. rate,
bil. dol.)

L, L, L

Smoothed
data1
(Ann. rate,
bil. dol.)

31. Change
in book value
of mfg. and
trade inventories, totat
(Ann. rate,
bil. dol.)

I, Lf L

38. Change
in stocks of
materials and
supplies w
hand and on
order, mfg. a
(Bil. dol.)

Revised 3

Lg, Lg, Lg

Lg, Lg, 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 3

1981
January
February
March

2.4

April
May
June

12.1

-16.14
15.31
-5.82
-0.13
fi> 18.37
16.88

-6.36
-5.79
-1.92

35.5
E>65.3
23.4

0.58
0.77
-0.34

495.75
501.18
503.14

262.33
263.33
263.10

79.42
80.55
82.36

1.63
1.64
1.64

222.47
223.24
222.90

0.62
3.63
7.92

20.0
40.9
36.8

1.31
1.64
0.55

504.80
508.21
511.27

' 263.41
264.70
265.92

82.10
83.55
84.00

1.63
1.65
1.64

224.21
225.85
226.40

July
August
September . . .

E>16.5

5.68
4.98
14.94

B>12.68
•11.41
8.86

31.0
56.5
51.9

1.88
-1.09
1.12

513.86
518.57
522.89

266,53
267.56
269.42

84.22
85.65
86.86

1.66
1.67
1.69

228.28
227.19
H>228.32

October
November . . .
December . . .

4.8

-0.94
-2.92
-•20.29

7.43
5.01
-2.18

29.
39.
-19.8

-2.71
-1.26
-1.22

525.33
H>528.62
526.97

270.47
R271.17
269.85

88.05
El) 88.50
87.66

1,74
1,75
1.76

225.61
224.35
223.13

-15.4

-33.56
-27.19
-8.68

-13.49
-22.97
-25.08

-35.6
-23.6
-10.4

-2.96
-2.64

524.01
522.04
521.17

267.69
266.45
265.98

86.84
87.90
88.49

1.78
1.74
1.73

220.17
217.53
215.42

-4.4

-7.33
-27.00
-7.33

-18.77
-14.37
-14.11

32
-56,
24,

-1.67
-2.33
-4,04

523.89
519.21
521.24

266.54
264.54
265.18

87.39
86.56
85.90

1.75
1.70
1.72

213.75
211.42
207.39

3.4

1.02
-12.78
2.63

-12.50
-8.73
-4.70

2.2
3.8
0.6

0.80
•2.21
- 2 02

521.43
521.75
521.80

265.56
265.46
266.03

86.61
86.68
86.40

1.73
1.75
1.75

206.59
204.38
202.36

-20.3

-16.28
r-40.57
r-20.77

-5.93
r-13.44
r-21.97

-12,
-65,
-36.2

-1,
-1
-1.19

520.72
515.26
512.25

265.23
262.25
261.00

86.37
85,41
83,52

E>1.79
1.75
1.73

200.47
198.91
197.72

p-12.4

r-24.06
P2.96
(NA)

r-27.17
p-21.21
(NA)

-56.3
p6.2
(NA)

-0.43
pi ,09
(NA)

507.56
P508.08

r258.46
p258.24

81.99
82.02
(NA)

rl.67
pi.69
(NA)

197.29
P198.38
(NA)

1982
January
February
March
April
May
June
July
August
September . . .
October
November . . .
December . , .
1983
January
February
March

(NA)

(NA)

April
May
June
July
August
September . . .
October
November . . ,
December . . .
See note on page 60.
Graphs of these sries are shown on pages 13, 15, 26, and 27.
'This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month o£ the span.
Ser:ies 38 reached its high value (1.97) in July 1980.
See "New Features and Changes for This Issue," page iii.

a
3




APRIL 1983

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

J

Minor Economic
Process

Stock
Prices

Sensitive Commodity Prices

Timing Class

Year
and
month

PRICES, COSTS, AND PROFITS

L, L, L

U, L, L

98. Change in
producer prices
for 28 sensitive
materials

(Percent)

23. Index of
spot market
prices, raw
industrials1 2

(1967 = 100)

L, L,L

99. Change in sensitive materials
prices
Smoothed

Monthly
data

(Percent)

(Percent)

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

L, C, L

Lf Cr L

Corporate profits after taxes
with IVA and CCAdj *

79. Current
18. Constant
(1972) dollars : dollars

80. Constant
(1972) dollars

(Ann. rate,
bil. dol.)

(Ann, rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bit. doi.)

L, L, L

22. Ratio,
profits (after
taxes) to total
corporate
domestic
income *
(Percent)

1981

-1.81
-2.50
0.64

April
May
June

291.6
284.2
289.8

-1.60
-2.08
0.92

0.16

132.97
128.40
133.19

B>16i.6

84.0

108.9

S>56.*8

0.94
0.10
0.30

January
February
March

293.0
288.9
282.9

0.83
-0.37
-0.45

-0.52
0.17
0.23

134.43
131.73
132.28

146,2

74.2

105.9

54.1

286
289
283.0

-0.25
-0.41
-1.91

-0.18
-0.36
-0.61

129.13
129.63
118.27

150.8

75.4

110.7

55.6

8.8

119.80
122.92
123.79

144.9

71.2

55.5

8.1

49.2

6.7

July
August
September . . .

9.8

-1.08
-2.18
-0.72

277
270.
264.2

-1.05

-1.00
-1.40
-1.50

January
February
March

0.87
-1.40
-0.22

263.4
261.0
254.5

0.35
-0.97
-0.89

-1.11
-0.71
-0.53

117.28
114.50
110.84

115.0

56.3

100.4

April
May
June

-0.76
0.11
0.29

247.4
245.5
232.2

-1.21
-0.18
-1.45

-0.76
-0.89
-0.85

116.31
116.35
109.70

116.3

56.2

100.0

July
August
September . . ,

-0.33
-2.46
-0.26

237.0
236.2
239.0

0.41
-1.38
0.19

-0.68
-0.61
-0.53

109.38
109.65
122.43

119.4

57.1

105.3

50.4

6.9

October
November . . .
December . . .

-0.23
r-0.57
r0.23

235.5
230.4
227.4

-0.51
-0.93
-0.28

-0.41
-0.49
-0.50

132.66
138.10
139.37

rll7.9

r56.1

rlO6.6

r50.8

r6.5

2.73
E>3.43

232.1
241.3
248.8

2.03
H>2.96

-0.15
0.92
0)1.96

144.27
146.80
[0)151.88

(NA)

(NA)

(NA)

(NA)

(NA)

October
November . . .
December . . .

1982

6.7

1983
January
February
March

2.21

5

253.7

April
May
June

2.07

6

156.17

July
August
September . . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
1
Beginning with 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. 2The following series reached high values before 1981: Series 23 (304,7) in November 1980,
series 18 (84.2) in III Q 1980, and series 22 (9.9) in IV Q 1980. 3See footnote 1 on page 68. AIVA, inventory valuation adjustment;
CCAdj, capital consumption adjustment. sAverage for April 1 through 19. 6Average for April 6, 13, and 20.

ISCII

APRIL 1983




69

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

0 |

Minor Economic
Process

Profits and Profit Margins-Continued

Timing Class

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

(Percent)

Year
and
month

U, L, I

(Cents)

L.L.L

PRICES, COSTS, AND PROFITS-Continued
Unit Labor Costs and Labor Share

Cash Flows
L, L, L

1, L, L

26. Ratio, price
Net cash flow, corporate
to unit labor
cost, nonfarm
business sector 34. Current
35. Constant
dollars
(1972) dollars

(1977-100)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

U, U, 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

(1977 = 100)

(Dollars)

Lg, Lg, Lg

U\, i-g. t-g

62. Index of labor cost per
unit of output, rranufacturing
Actual data

(1967-100)

Actual data
as a percent
of trend

64. Compensation of employ
ees as a percent
of national
income

(Percent)

(Percent)

2

C)

1981
January
February
March

6.0

4.9

r98.1

E>279.0

R141.2

139.0

1.267

202.6
203.6
204.4

100.15
100.4
100.1

74.9

April .
May .
June .

6.0

H>5."6

97.9

267.7

132.0

141,5

1.289

206.1
207.4
208.9

100.2
100.:

75.3

loo.:.

July
August
September . .

4.8

> 98.1

276.5

133.9

144.2

1.315

208.9
209.9
212.6

99.^
99.1
99.7

74.9

5.9

4.4

97.7

277.5

131.8

147.9

1.349

216.6
219.9
222.5

100.6
101,7
102.2

75.4

January .
February
March ..

5.7

3.9

96.7

254.9

120.6

150.9

1.376

227.9
226.0
225. a

GD103.9
102.4
101.6

6,4

April . . ,
May .. .
June . . .

5.6

3.7

96.5

263.5

123.3

152.9

1.388

228.0
230.7
231.3

101.9
102.4
102.0

76.3

July
August . . .
September ,

6.0

3.5

96.8

272.6

128.6

153.8

1.392

230.2
229.6
229.7

100.9
100.0
99.4

76.1

r5.8

2.8

r96.7

r277.4

rl30.7

rl54.9

B>r1.409

231,0
ID231.7
r230.9

99.3
98.9
r98.0

r76.O

(NA)

(NA)

p97.6

(NA)

(NA)

E>pl55.8

(NA)

r230.8
r231.1
p229.7

r97.3
r96.8
P95.5

(NA)

October . .
November
December
1982

October
November . . .
December .. .
1983
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 Hi, 29, and 30.
1
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment,
2
See "New Features and Changes for This Issue," page iii.

70



APRIL 1983

IU

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process

Money

Timing Class

Year
and

MONEY AND CREDIT

L, L, L

85. Change in
money supply
(Ml)

Lr L, L

L, C U

102. Change
in money
supply (M2)

L, L, L

104. Change in total liquid assets
Smoothed
data 1

Monthly

Credit Flows

Velocity of Money

L,L,L

105. Money
supply (Ml)
in 1972
dollars

106. Money
supply (M2)
in 1972
dollars

(Bit. dol.)

(Bil. dol.)

C, C,C

107. Ratio,
gross national
product to
money supply
(Ml)

C, Lg, C

108. Ratio,
personal income
to money supply
(M2)

month
(Percent)

(Percent)

(Percent)

(Percent)

(Ratio)

(Ratio)

L.L.L

33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies2
(Ann. rate,
bil. dol.)

1981
January
February
March

0.63
0.77
1.10

0.49
0.85
1.20

1.07
1.05
0.66

0.89
0.96
0.95

199.9
199.9
200.5

785.9
786.5
789.7

6.815

1.409
1.410
1.407

55.82
60.60
46.93

April
May
June

1.22
0.00
0.05

0.87
0.43
0.71

0.46

0.82
0.72
0.80

202,
200,
198,

793.2
789.8
789.3

6.752

1.402
1.405
1.406

54.62
42.05
47.48

July
Aupst
September . . .

0.49
0.44
-0.09

0.86
1.23
0.59

B>1.36

0.97
1.11

0.94

01.13

197.6
196.8
194.7

787,
790.
786,

1.412
1.415

60.85
34.20
26.76

October . . . . : .
November . . .
December . . .

-0.05
0.60
1.08

0.69
0.95
0.80

0.93
1.02
0.64

,08
,02
0.91

193.9
194.2
195.5

789.3
793.1
796.4

6.879

1.410
1.403
1.391

22.79
21.66
5.14

January
February
March

1.63
0.04
0.13

0.85
0.31
0.72

0.85
0.90
0.92

0.85
0.82
0.84

198.1
198.1
198.4

800.9
802.8
808.9

6.685

1.381
1.384
1.377

22.08
16.39
3.54

Apiril
May . . . . . . .
June

0.16
0.69
0.22

0.34
0.84
0.75

0.65
1.00
1.08

0.86
0.84
0.88

198,2
197.6
195.9

809.7
808.2
805.6

6.742

1.382
1.381
1.376

8.74
3.22
-9.77

July
August

0.22
0.86
1.07

0.88
1.21
0.70

1.13
r0.91
0.60

0.99
rl.06
0.96

195,
196,
198,

807.9
815.2
820.1

6.734

,376
.362
.355

-5.96
-7.22

r-10.42
r-48.32
-9.05
-43.81

0.97

B>6.883

1982

September . . .

0.89

0.66
0.79
r0.75

0.82
>rl.87
pi. 28

i>r2.49
rl.95
p0.90

October
November . . .
December . . .

r0.90
pO.60
(NA)

0.84
pO.75

(NA)

199,
201,
204.3

822.1
828.6
837.1

6.563

1.352
1.351
1.345

205.6
r209.9
0>p212.3

856.4
r875.0
(H)p881.6

P6.480

1.315
rl.292
pi.287

1983
January
February
March

3

April
May
June

14.08
P35.05
(NA)

0.34

July
August
September , . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
x

This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Series 33 reached its high value (82.61) in October 1980.
Average for weeks ended April 6 and 13.

z
3

APRIL 1983



71

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process

Year
and
month

L, L, L

Lt LP L

112. Net change 113. Net
in business
change in
loans
consumer installment
credit
(Ann. rate,
bil. dol.)

1981

Credit Difficulties

Credit Flows-Continued

Timing Class

(Ann, rate,
bil. dol.)

Revised*

January
February
March

17.57
4.37
-20.65
46.48

19.54

L.L.L

L.L.L

111. <
in credit outstandingbusiness and
consumer
borrowing
(Ann. rate,
percent)
Revised

MONEY AND CREDIT-Continued

L, L, I

110. Total
private
borrowing

14. Current
liabilities
of business
failures x @

(Ann. rate,
mil. dol.)

(Mil. dol.)

L, L,L

39. Delinquency
rate, 30 days
and over, consumer installment loans

(Percent)

Interest Rates

L,UP U

L, Lg, Lg

93. Free
reserves ®

94. Member
bank borrowing from the
Federal
Reserve ®

(Mil. dol.)

(Mil. dol.)

C, Lg, Lg

119. Federal
funds rate ®

U4. Treasury
bill rate <u)

(Percent)

(Percent)

3

320,608

23.12

7.9
7.9
3.2

341.36
789.20
485.34

10.0
H>H-2
8.4

©392,040

18)35.65

Bank Reserves

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

536.88
428,20
408.54

-1,136
-1,968
-1,700

1,338
E)2,220
2,039

15.72
18.52
B>19.10

13.63
H>16.30
14.56

-1,335
-1,122
-1,035

1,679
1,417
1,451

19.04
17,82
15.87

14.70
15.61
14.95

51.19

25.55
24.02
12.78

July
August
September . . .

52.52
57.32
59.27

19.28
21.67
33.73

9.9
8.3
9.1

318,116

619.46
450,41
752.34

October
November . . .
December . . .

25.18
42.13
32.62

9.41
-4.36
-2.76

3.0
3.6
3.1

247,540

897.94
618.76
626.74

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

January
February
March

65.18
62.46
23.78

21.42
8.66
2.62

8.4
7.9
2.8

645.14
255,632

2.48
2.39
2.24

-1,101
-1,414
-1,254

1,526
1,713
1,611

13.22
14.78
14.68

12.41
13.78
12.49

April
May
June

63.64
45.66
31.63

19.62
18.10
20.90

6.5
4.8
3.2

310,108

2.20
2.21
D2.16

-1,307
-745
-895

1,581
1,105
1,205

14.94
14.45
14.15

12.82
12.15
12.11

July
August
September . . .

7.98
4.72
21.98

4.70
0.80
10.04

-1.9
1.4
1.2

253,148

19
21
19

-378
-199
-592

669
510
976

12.59
10.12
10.31

11.91
9.01
8.20

2.71
-63.78
-58.44

4.96
15.65
29.03

-4.1
-5.6
-7.6

p253,064

24
23
2.18

-51
-177
-197

455
579
697

9.71
9.20
8.95

7.75
8.04
8.01

32.18
-10.73
P8.18

35.15
20.93
(NA)

5.9
2.0

(NA)

46
r-132
p-585

500
r557
p854

8.68
8.51
8.77

7.81
8.13
8.30

8.96

"8.25

April
May
June

0)67.80

1982

October
November . . .
December . . .

(NA)

1983
January
February
March

(NA)

p-4.9

April
May
June

3

-529

3

1,006

9

July
August
September , . .
October
November , . .
December . . .
See note on page 60
Graphs of these seriss are shown on pages 13, 32, 33, and 34.
l
Series 14 reached its high value (239.34) in November 1980.
a
See "New Features and Changes for This Issue," page iii.
3
Average for weeks ended April 6J( 13, and 20.
''Average for weeks ended April 7a 14, 21, and 28.

72



APRIL 1983

BCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

MAJOR ECONOMIC
PROCESS

^ J

Minor Economic
Process

MONEY AND CREDIT—Continued

Interest Rates-Continued

Timing Class

1 * Lg, Lg

C, Lg, Lg

116.Corporate 115. Treasury
bond yields @ bond yields ©

(Percent)

Lg, Lg, Lg

U, Lg, Lg

Lg, Lg, Lg

117. Municipal
bond yields <§)

118. Secondary
market yields
on FHA
mortgages ©

67. Bank rates
on short-term
business loans

(Percent)

(Percent)

Year
and
month
(Percent)

Outstanding Debt

(Percent)

Lg, Lg, Lg

109. Average
prime rate
charged by
banks <§)

(Percent)

Lg, Lg, Lg

66. Consumer
installment
credit

Lg, Lg, Lg

Commercial and industrial
loans outstanding
72. Current
dollars

(Mil. dol.)

101. Constant
(1972) dollars

(Mil. dol.)
1

Revised

1981

Lg, Lg, Lg

Vlil. dol.)

Lg, Lg, Lg

95. Ratio,
consumer installment credit
to personal
income

(Percent)
1

Revised

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

309,765
312,736
314,663

211,868
212,232
210,511

88,611
87,881
86,381

13.42
13.42
13.38

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

316,792
318,794
319,859

214,384
220,034
224,300

87,042
89,119
90,626

13.40
13.40
13.34

July
August
September . . .

15.67
16.34
.97

13.05
13.61
.14

11.14
12.26
12.92

16.76
17.96
H>18.55

D21.ll

20.39
H>20.50
20.08

321,466
323,272
326,083

228,677
233,454
238,393

91,949
93,794
96,010

13.19
13.14
13.16

October

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

326,867
326,504
326,274

240,491
244,002
246,720

96,738
98,348
99,324

13.14
13.07
13.06

January
February
March

16.34
16.35
15.72

13.73
13.63
12.98

E>13.28
12.97
12.82

17.38
17.10
16.41

17.13

15.75
16.56
16.50

328,059
328,781
328,999

252,152
257,357
259,339

100,659
102,655
103,653

13.13
13.08
13.06

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

17.11

16.50
16.50
16.50

330,634
332,142
333,884

264,642
268,447
271,083

105,772
107,079
107,872

13.04
12.99
13.01

July ..•
August
September . . .

15.75
14.64
13.78

12.97
12.15
11.48

12.28
11.23
10.66

16.29
14.61
14.03

13.27

16.26
14.39
13.50

334,276
334,343
335,180

271,748
272,141
273,973

107,751
107,950
E)109,022

12.91
12.90
12.91

October
November . . .
December . . .

12.63
11.89
12.15

10.51
10.18
10.33

9.69
10.06
9.96

12.99
12.82
12.80

11.26

12.52
11.85
11.50

335,593
336,897
339,316

1R>274,199
268,884
264,014

108,939
106,658
104,601

12.86
12.82
12.88

12.04
12.11
11.81

10.37
10.60
10.34

9.50
9.58
9.20

12.87
12.65
12.68

10.20

11.16
10.98
10.50

342,245
E> 343,989
(NA)

266,696
265,802
p266,484

105,874
105,102
plO5,622

12.96
pl3.01

November
December

...
...

1982

1983
January
February
March
April
May
June

2

11.65

2

10.26

3

9.12

(NA)

"10.50

July
August
September . . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.

*See "New Features
Average for weeks
Average for weeks
"Average for April
a
3

and Changes for This Issue/' page iii.
ended April 1, 8, 15, and 22.
ended April 7, 14, and 21.
1 through 26.

I C I ) APRIL 1983



73

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE

DIFFUSION INDEXES

Year
and
month

950. Twelve leading
indicator components;
(series 1,5, 8, 12, 19,
20, 29, 32, 3<i, 99,106,
111)

952. Six lagging
indicator components
(series 62, 77, 91,
95,101,109)

951. Four roughly
coincident indicator
components (series
41, 47, 51, 57)

1-month
span

6-month
span

8.3
33.3
58.3

75.0
54.2
58.3

100.0
87.5
75.0

100.0
100.0
100.0

8.3
25.0
41.7

100.0
41.7
25.0

45.8
58.
33,

50.0
50.0
100.0

75.0
75.0
50.0

75.0
25.0
37.5

1-month
span

961. Average workweek
of production workers,
manufacturing (20
industries)

962. Initial claims for
State unemployment
insurance, week including the 12th 1
(51 areas)

963. Number of employees on private
nonagricultural payrolls
(186 industries)

1-month
span

9-month
span

1-month
span

9-month
span

1-month
span

16.7
66.7
33.3

90.0
7.5
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

64.8
65.9
67.2

83.3
66,
41,

66.7
50.0
66.7

72.5
77.5
22.5

60.0
17.5
5.0

64.7
78.4
17.6

19.6
19.6
5.9

68,3
65.3
54.0

67.7
67.2
67.5

50.0
25.0
12.5

66.7
50.0
83.3

83.3
66.7
66.7

35.0
35.0
15.0

15.0
12.5
5.0

68.6
58.8
9.8

17.6
9.8
27.5

59.9
50.3
50.3

51.3
39.0
33.9

34.7
28.2

6-month
span

1-month
span

6-month
span

6-month
span

1981
January
February
March
April
May
June
July
August
September , .

33.3
41.7
8.3

8.
16.
8.

October
November , .
December . .

25.0
50.0
29.2

8.3
8.3
25.0

0.0
0.0
0.0

0.0
0.0
0.0

75.0
66.7
75.0

66.
66.
50.0

62.5
20.0
30.0

7.5
5.0
5.0

60.8
49.0
22.5

11.8
5.9
7.8

31.2

30,
27.
24.2

January
February . . .
March

45.8
58.3
33.3

41.7
41.7
54.2

0.0
87.5
37.5

0.0
50.0
50,0

75.0
33.3
33.3

41.7
33.3
33.3

5.0
95.0
12.5

12.5
42.5
30.0

96,
24,
5.9

11.8
31.4
43.1

32.5
42.5
35.8

21.8
27.4
27.4

April
May
June

66.
37,
41,

66.7
50.0
45.8

25.0
75.0
0.0

50.0
0.0
0.0

58.3
41.7
58.3

33.
33.
33.

42.5
75.0
72.5

30.0
40.0
77.5

62.7
68.6
19.6

15.7
23.5
9.8

40.9
51.1
32.0

29.8
28.8
30.1

July
August
September . . .

54.
58.
58.

50.0
50.0
62.5

25.0
0.0
12.5

0.0
0.0
0.0

33.3
33.3
41.7

33.
16.
16.

45.0
25.0
35.0

32.5
47.5
82.5

67.6
9.8
17.6

17.6
72.5

43.5
37.6
43.0

24,2
21.0
24.7

October
November . . .
December , , .

62.
58,
62.5

91.7
91.7
81.8

0.0
50.0
75.0

25.0
37.5
66.7

rl6.7
0.0
16.7

16.7
16.7

52.5
67.5
52.5

r45.0
p77.5

88.2
60.8
76.5

p69.6
(NA)

26.1
r34.9
39.0

r28,
29
p33.3

1982

a

3

1983
January
February
March

r75.0
75.0
2
63.6

100.0
37.5
MOO.O

33.3
50.0
"25.0

r92.5
r7.5
p95.0

68.6
P55.9
(NA)

r54.8
r41.4
p58.6

April
May
June
July
August
September . , .

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 ® , 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,
Excludes series 36, for which data are not available.
3
Excludes series 57, for which data are not available.
^Excludes series 77 and 95, for which data are not available.

74



APRIL 1983

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE-Continued

DIFFUSION INDEXES—Continued

Year
and
month

964. Value of manufacturers' new orders,
durable goods industries (34 industries)

1-month
span

965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)

9-month
span

1-quarter
span

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 ®
(13 industrial materials)

1-month
span

9-month
span

968. Index of stock
prices, 500 common
stocks ' <§)

1-month
span

9-month
span

960. Net profits,
manufacturing2 (3)
(about 600 companies)

(4-quarter span)

1981

47.1
26.5
47.1

32,
20,
20,

26.5
58.8
32.4

29.4
20.6
14.7

47.1
50.0
35.3

23.5
20.6
41.2

48.5
67.6
35.3

20.6
38.2
35.3

50.0
32.4
58.8

26.5
29.4
58.8

41.2
64.7
38.2

r47.1
p50.0

p80

59.
44.
42.

59

87.5
52.1
12.5

31.3
20.8
16.7

61,
61.
42,

61.5
42.3
23.1

19.2
40.4
0.0

46.
32.

20.8
8.3
20.8

8.3
8.3
10.4

38,
26.
46.2

23.1
23.1
15.4

58.
65.
67.3

14,
10,
34.6

48

33.3
75.0
31.3

0.0
12.5
33.3

42.3
34.6
38.5

15.4
30.8
26.9

10.6
34.6
28.8

34.6
42.3
38.5

50

20.8
41.7
54.2

41.
37,
33.

30.8
34.6
23.1

26,
19
19

88.5
54.8
11.5

18.0
56.0
79.6

53

60.4
52.1
41.7

33.3
25.0
37.5

61.5
53.8
61.5

26.9
15.4
23.1

52.9
26.5
100.0

87.8
87.8
89.8

(NA)

25.0
33.3
41.7

r43.8
50.0
p66.7

46.2
30.8
46.2

50.0
57.7
65.4

98.0
85.7
51.0

89.8
98.0

53

October
November . . .
December . . .

81.
30.
67.

27

July
August
September . . .

46.2
46.2
53.8

48

April
May
June

69,
26,
38,

30

January
February
March

54.2
58.3
45.8

33

October
November . . .
December . . .

56.2
62.5
45.8

(NA)

July

79.2
67.3
59.6

53

August
September . . ,

66.0
42.5
85.8

p52

50.0
47,
35,

"38.5
38.5
46.2

"39

64.7
52.9
50.0

30.8
30.8
65.4

56

April
May
Juno

79.2
70.8
58.3

34

88.2
73.5
70.6

83.3
62.5
45.8

43

41.2
52.9
58.8

60

49

January
February
March

49

9.6

1982

3

1983
January
February
March

67.6
r47.1
p47.1

April
May
June

(NA)

r75.0
r62.5
p85.4

61.5
76.9
57.7
3

63.3
59.2
73.5

65.4

July
August
September . . .
October
November . . .
December . . .
•

See note on page 74.
Graphs of these series are shown on page 37.

*Based on 53 industries through May 1981, on 52 industries through August 1982, on 50 industries in September 1982, and on 49 industries
thereafter. Data for component industries 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 & Bradstreet, Inc.
3
Ba.sed on average for April 5, 12, and 19,

APRIL 1983



75

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

NDEXES-Continued
DIFFUSION 1

^ J
Year
and
quarter

a. Actual
expenditures
(1-Q span)

b. Later
anticipations

c. Early
anticipations

(1-Q span)

(1-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

Anticipated

Actuiil

Anticipated

Actual

Anticipated

Actual

973. Net sales, manufacturing
aid trade* ®

972. Net profits, manufacturing
and trade' ®

971. New orders, manufacturing ' ®

970. Business expenditures for new plant and
equipment ( 2 2 industries)

(4-Q span)

(4 Q span)

(4-Q span)

1980
77.3
59.1
50.0
54.5

54.
45.
36. %
40.

81.8
59.1
81.8
77.3

74
63
60
60

66
75
57
62

62
54
57
56

66
73
59
61

73
6^!
68
60

72
80
63
67

72.7
63.6
72.7
36.4

72. 7
40.
54.
59. L

70.5
68.2
77.3
68.2

68
70
62
62

74
74
76
76

60
66
60
60

70
69
74
72

70
74
71
68

78
76
80
80

54.5
34.1
27.3
22.7

59. 1
22. 1
27., 3
50.( )

59.1
59.1
65.9
59.1

52
50
52
56

60
68
64
60

53
52
52
54

61
66
66
60

63
58
5/
60

65
70
72
65

(NA)

59. t

45.5
40.9

(NA)

66
77

(NA)

64
73

(NA)

68
78

I Q DIFFUSION

First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter . . . .

NDEXES-Continued

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

Year
and
quarter

974. Number o f employees,
manufacturing i ncl trade] ®

975. Level of inventories,
manufacturing and tradel ®

976. Selling prices, manu
facturing 1 ®

977. Selling prices, wholesale
trade 1 ®

978. Selling pr ces, retail
trade»®

Actual

Actual

Actual

Actual

Actual •

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

1980
58
54
53
51

54
56
48
50

67
61
64
60

62
70
53
56

90
88
90
90

37
90
33
36

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

38
90
I39
I34

90
88
84
82

90
89
89
84

94
90
86
86

90
90
92
87

48
46
46
46

50
51
51
48

58
52
52
52

54
56
56
50

72
68
63
60

i30
76
(58
(56

72
67
68
61

B?
78
72,
68

78
75
74
68

82
81
76
72

(NA)

50
56

(NA)

52
58

(NA)

i55
f56

(NA)

68
64

(NA)

69
67

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 . . . .
1983
First quarter . . . .
Second quarter . . . .
Third quarter
Fourth quarter . . . .

NOTE; Figures are "he percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed at the end of the span. Series ara seasonal y adjusted exceipt for those,
indicated b y ® , that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these scries are shown on page 38.
l
This is a copyrighted series used by permission; it may not be reproduced without written permission from DUE i\ Bradstroot, Inc. Dun §
Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.

76



APRIL 1983

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change

Diffusion index components

1982
August

October

September

1983
November

December

January

Marchp

February

961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING '
(Average weekly hours)

All manufacturing industries

39.0

38.8

38.8

38.9

38.9

39.8

39.1

39.6

Percent rising of 20 components .

(25)

(35)

(52)

(68)

(52)

(92)

(8)

(95)

Lumber and wood products
Furniture and ffxtures

38.2
37.9

38.5
37.4

38.0
37.5

38.5
37.6

38.5
37.7

r40.8
r38.8

39.4
37.7

39.8
38.0

Stone, clay, and glass products
Primary metal industries

40.3
38.8

40.2
37.8

40.2
38.0

40.2
38.2

40.0
38.9

r41.6
r38.9

40.2
38.9

40.6
39.5

Fabricated metal products .
Machinery, except electrical

39.2
39.5

38.8
39.0

38.9
39.2

39.0
39.2

39.1
39.3

39.8
39.7

39.8
39.3

40.2
39.7

Electric and electronic equipment.
Transportation equipment

39.3
40.5

38.8
39.8

39.0
40.1

39.2
40.8

39.3
39.9

r39.9
r41.7

39.3
41.0

40.0
41.5

instruments and related products .
Miscellaneous manufacturing

40.1
38.6

39.8
38.3

39.4
38.6

39.2
38.6

39.6
38.4

40.6
r39.4

39.4
37.9

40.2
39.0

Food and kindred products
Tobacco manufacturers

39.1
38.1

39.4
39.7

39.7
39.0

39.4
38.0

39.2
37.9

r39.4
r36.5

39.0
34.2

38.9
36.3

Textile mill products
Apparel and other textile products . . .

38.2
35.0

38/1
35.2

38.2
35.0

38.4
35.0

40.3
36.9

41.7
36.8

41.5
37.0

41.7
36.9

41.7
37.6

41.8
37.6

Chemicals and allied products .
Petroleum and coal products ..

40.9
43.9

41.2
44.0

40.8
43.3

40.6
43.9

41.6
37.1
40.9
44.4

39.0
34.9
41.3
37.0

39.4
35.5

Paper and allied products...
Printing and publishing

38.6
35.1
41.6
37.1

r41.1
r44.6

41.0
44.6

41.5
44.8

Rubber and miscellaneous plastics products .
Leather and leather products

39.7
36.0

39.6
35.7

39.0
35.2

39.3
35.9

39.6
35.8

40.2
r36.7

39.7
34.9

40.7
36.4

Durab e goods industries:

Nondurable goods industries:

964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES '
(Millions of dollars)
All durable goods industries

-

Percent rising of 34 components .

72,982

+

73,266

-

(59)

(32)

69,598

+

70,607

+

(65)

(41)

76,593

+

80,921

-

(68)

(38)

78,084

+

78,343
(47)

(47)

Primary metals
Fabricated metal products.

-

8,178
8,897

-

7,983
8,668

-

6,943
8,297

+
-

7,466
8,186

+

6,655
8,426

+
+

8,246
9,215

+
+

9,676
9,241

-

8,412
9,220

Machinery, except electrical
Electrical machinery

+
-

13,091
11,572

+
+

13,978
12,025

-

13,824
11,115

+

12,970
12,193

+

12,488
12,473

+
-

13,321
11,986

+

12,579
12,097

+
+

14,136
12,512

Transportation equipment
Other durable goods industries.

-

16,084
15,160

+

14,828
15,784

-

14,267
15,152

+

14,567
15,225

+
-

21,732
14,819

+

21,510
16,643

-

18,048
16,443

-

17,938
16,125

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 "NAM, not available.
l
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.

APRIL 1983



77

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued

Dilfusion index components

1982

August

September

October

1983

November

December

January

February

March?

966. INDEX OF INDUSTRIAL PRODUCTION
(1967 = 100)

138.4

137.3

135.7

134.9

+ 135.2

+ 137,2

137.6

139.1

(52)

(42)

(25)

(33)

(42)

(75)

(62)

(85)

Lumber and products.
Furniture and fixtures

120.3
156.7

119.9
155.7

117.2
154.3

119.1
152.4

121.4
rl53.7

130.0
150.0

132.4
151.0

(NA)
(NA)

Clay, glass, ard stone products.
Primary metals .,
,

128.8
72.9

130.4
73.2

128.1
69.6

127.3
63.6

125.4
r63.5

127.9
72.9

Fabricated metal products
Nonelectrical machinery...

114.3
147.2

112.3
144.9

107.6
140.4

107.0
139.6

107.3
rl39.2

107.6
138.0

Electrical machinery
Transportation equipment .

169.7
107.0

167.0
105.3

.165.4
100.8

165.5
100.2

rl65.5
103.7

Instruments
Miscellaneous manufactures .

165.5
133.9

161.9
132.9

157.4
129.6

155.8
129.5

Foods
Tobacco prodjcts

150.7
120.6

149.0
113.3

151.5
110.6

Textile mill p'oducts
Apparel products

125.9

126.1
(NA)

Paper and products
Printing and publishing .

152.5

145.3

Chemicals anj products ..
Petroleum products
Rubber and plastics products.
Leather and products

All industrial production
Percent rising of 24 components

2

Durable manufactures:
+
+

131.3
76.6

+

(NA)
79.0

+
-

109.6
135.7

+
+

111.8
137.8

169.5
105.8

+

169.4
109.9

171.6
110.2

- 155.2
- rl28.2

154.5
130.7

+

154.0
131.0

155.8
133.1

152.0
113.0

rl52.8
109.9

(NA)
(NA)

(NA)
(NA)

125.9
(NA)

123.1
(NA)

rl22.2

+ 154.4
- 104.7
+ 125.8

+

(NA)

(NA)

128.8
(NA)

(NA)
(NA)

154.3
144.3

155.0
142.0

154.5
141.7

151.1
rl42.8

+
-

158.8
141.4

+

155.7
142.5

+

155.4
145.3

195.6
121.4

196.4
122.6

194.1
123.8

192.8
120.0

rl95.9
rll8.7

+
-

196.0
117.8

+
-

196.6
115.7

+

(NA)
118.8

261.1
60.8

262.0
60.9

256.3
59.5

250.2
57.7

249.7
56.0

+
+

256.2
59.5

+
+

258.9
60.4

' (NA)
(NA)

Metal mining .
Coal
.

53.4
135.8

55.4
127.9

63.1
143.2

70.4
134.1

r74.9
129.7

81.0
144.8

83.2
136.5

(NA)
127.3

Oil and gas extraction
Stone and earth minerals .

123.3
105.7

121.0
106.3

119.1
108.5

120.3
111.9

rl22,9
rill.7

124.0
112.8

116,7
114.3

114.3
(NA)

Nondurable manufactures:

<NA)

Mining:

+
+

NOTE: To facilitate interpretation, the month to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and ( - ) - falling,
preliminary; and "NA", not available.
*Data are seasonally adjusted by the source agency.
a
Whore actual data for separate industries are not available, estimates are used to compute the percent rising,.

78




T e "r" indicates revised; "p",
h

APRIL 1983

B

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

^ J

SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change—Continued
1982

Diffusion index components
September

August

1983
November

October

December

January

February

April1

March

967. INDEX OF SPOT MARKET PRICES, RAW INDUSTRIALS 2
Raw industrials price index (1967 = 100) ....

-

236.2

+

-

(62)

(54)

Percent rising of 13 components

239.0

235.5

-

(46)

230.4

-

227.4

+

(46)

(31)

232.1

+

(62)

241.3

+

(77)

248.8

+

253.7

(58)

(65)

Dollars

Copper scrap

(pound)..
(kilogram)..

-

0.461 +
1.016

0.481 +
1.060

0.482
1.063

+

0.485
1.069

+

0.510
1.124

+

0.552
1.217

+

0.591
1.303

-

0.587
1.294

+

0.602
1.327

Lead scrap

(pound)..
(kilogram)..

+

0.166
0.366

-

0.164
0.362

-

0.148
0.326

-

0.129
0.284

-

0.114
0.251

+

6.126
0.278

-

0.125
0.276

-

0.123
0.271

+

0.128
0.281

Steel scrap

(U.S. ton).,
(metric ton)..

+

59.200
65.256

+

60.000
66.138

o

60.000
66.138

o

60.000
66.138

o

60.000
66.138

+

61.250
67.516

+

72.750
80.192

+

85.000
93.696

-

83.333
91.858

(pound)..
(kilogram)..

+

5.714
12.597

+

5.820
12.831

5.524
12.178

+

5.528
12.187

-

5.518
12.165

+

5.948
13.113

+

6.180
13.624

+

6.317
13.926

(pound)..
(kilogram)..

+

0.399
0.880

+

0.419
0.924

-

0.418
0.922

-

0.404
0.891

-

0.390
0.860

+

0.402
0.886

+

0.404
0.891

0.384
0.847

0

0.384
0.847

BurlaD

(vard)
(meter)..

+

0.241 +
0.264

0.252
0.276

+

0.263
0.288

-

0.256
0.280

-

0.240
0.262

-

0.229
0.250

+

0.237
0.259

+

0.256
0.280

+

0.262
0.287

Cotton

(pound)
(kilogram)..

«
•

0.615
1.356

-

0.588
1.296

+

0.595
1.312

-

0.589
1.299

+

0.610 +
1.345.

0.622
1.371

+

0.633
1.396

+

0.681 0
1.501

0.681
1.501

(yard)..
(meter)..

-

0.546
0.597

+

0.555
0.607

+

0.558
0.610

+

0.567
0.620

+

0.610
0.667

o

0.610
0.667

-

0.608
0.665

-

0.594
0.650

-

0.577
0.631

WooHops

(pound).,
(kilogram)..

o

3.400
7.496

o

3.400
7.496

+

3.500
7.716

+

3.600
7.937

-

3.375
7.441

-

3.300
7.275

o

3.300
7.275

-

3,240
7.143

-

3.200
7.055

Hides

(pound).,
(kilogram)..

+

0.544
1.199

-

0.542
1.195

-

0.506
1.116

-

0.489
1.078

-

0.485
1.069

-

0.474
1.045

+

0.479
1.056

+

0.504
1.111

+

0.558
1.230

(100 pounds)..

o

47.000
103.616

0

47.000
103.616

0

47.000
103.616

o

47.000
103.616

o

47.000
103.616

o

47.000
103.616

o

47.000
103.616

o

47.000
103.616

0

47.000
103.616

Tin

Zinc

.

Print cloth

Rosin

(100 kilograms)..

5.715
12.599

Rubtier

(pound)..
(kilogram)..

-

0.464
1.023

-

0.448
0.988

-

0.425
0.937

-

0.419
0.924

+

0.421 +
0.928

0.440
0.970

+

0.484
1.067

+

0.560
1.235

+

0.584
1.287

Tallow

(pound)..
(kilogram)..

-

0.150
0.331

+

0.159
0.351

-

0.152
0.335

-

0.144
0.317

-

0.139
0.306

0.144
0.317

+

0.148
0.326

+

0.151 +
0.333

0.169
0.373

+

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) - unchanged, and ( - ) = falling.
preliminary; and "NA", not available.
l
A v e r a g e f o r A p r i l 5 , 1 2 , and 1 9 .

The "r" indicates revised; "p",

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 i
letric units by the Bureau of Economic Analysis.

RCII

APRIL 1983




79

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

GNP AND PERSONAL INCOME

Year
and
quarter

a.. Total

b. Difference

(Ann. rate,
bit. dot.)

(Ann. rate,
bit. dot.)

217. Per capita
GNP in 1972

50. Gross national product in 1972 dollars

200. Gross national product in current dollars
c. Percent
change at
annual rate

b. Difference

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.)

1980
2,575,9
2,573.4
2,(143.7
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
15.6

1.5
-9.6
1.6
4.3

6,593
6,413
6,421
6,472

1,497.5
1,460.3
1,472.3
1,485.7

2,864.9
2,901.8
2,980.9
3,003.2

125.5
36.9
79.1
22:3

19.6
5.3
11.4
3.0

1,507.8
1,502.2
1,510.4
1,490.1

28.4
-5.6
8.2
-20.3

7.9
-1.5
2.2
-5.3

6,583
6,544
6,563
6,458

1,505.4
1,490.1
1,493.9
1,485.3

2,995.5
3,045.2
3,088.2
3,108.2

-7.7
49.7
43.0
20.0

-r.o

1,470.7
1,478.4
1,481.1
1,477.2

-19.4
7.7
2.7
-3.9

-5.1
2.1
0.7
-1,1

6,360
6,380
6,375
6,342

1,486.1
1,482.7
1,477.8
1,497.5

p3,176.7

First quarter..
Second quarter
Third quarter .
Fourth quarter

p68.5

P 9.1

pi ,488.5

pll.3

p3.1

p6,375

pi,500.9

1981
First quarter..
Second quarter
Third quarter .
Fourth quarter
1982
First quarter . .
Second quarter
Third quarter .
Fourth quarter

6.8
5.8
2.6,

1983
First quarter ..
Second quarter
Third quarter .
Fourth quarter

GNP AND PERSONAL INCOME—Continued
Year
and
quarter

PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars

Disposable personal income
224. Current dollars
(Ann. rate,
bil. dot.)

225. Constant
(1972) dollars
(Ann. rate,
bil. dol.)

231. Total in 1972
dollars

232, Durable goods
in current dollars

233. Durable goods
in 1972 dollars

227. Per capita in
1972 dollars
(Ann. rate,
dollars)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil, dol.)

(Ann rate,
bit. dol.)

1980
First quarter..
Second quarter
Third quarter .
Fourth quarter

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

1.9SB.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
2,151.5
2,198.1
2,224.3

1,046.9
1,054.8
1,058.3
1,059.1

4,527
4,552
4,555
4,547

1,919.4
1,947.8
1,986.3
2,030.8

949.1
955.0
956.3
967.0

237.9
240.7
240.3
251.8

137.5
138.3
136.4
142.8

p2,247.0

pi,063.8

p4,556

p2,054.0

P972.4.

P256.4

P144.5

1981
First quarter . ,
Second quarter
Third quarter .
Fourth quarter
1982
First quarter . .
Second quarter
Third quarter .
Fourth quarter
1983
First quarter..
Second quarter
Third quarter .
Fourth quarter

NOTE: Series art; seasonally adjusted except for those, indicated by <g), 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* 40 and 4 1 .




APRIL 1 9 8 3

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

i

Q F'ERSONAL CONSUMPTION EXPENDITURES—Continued

1 1 GROSS PRIVATE DOMESTIC INVESTMENT

236. Nondurable
goods in current
dollars

238. Nondurable
goods in 1972
dollars

237. Services in
current dollars

239. Services in
1972 dollars

(Ann. rate,
bil. dol.)

Year
and
quarter

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(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.)

1980
First quarter
Second quarter
Third quarter
Fourth quarter

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
768.4
775.7

362.2
364.5
365.9
367.6

932.4
952.1
977.6
1,003.3

449.5
452.2
454.0
456.6

414.8
431.5
443.3
391.5

195.4
202.3
206.3
183.5

450.4
447.7
438.6
439.9

210.8
206.7
202.9
203.8

P776.4

P369.8

pi,021.2

P458.1

P430.6

pl99.5

P459.1

p211.9

266. State and
local government
in current dollars

267. State and
local government
in 1972 dollars

....
....

1981
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....
• •
G O S PRIVATE
RS
K f i l DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars

Year
and
quarter

(Ann. rate,
bii. dol.)

30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)

^ H
260. Total in
current dollars

(Ann. rate,
bil. dol.)

261. Total in
1972 dollars

(Ann. rate,
bil. dol.)

GOVERNMENT PURCHASES OF GOODS AND SERVICES
262. Federal
Government in
current dollars

263. Federal
Government in
'372 dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

1980
First quarter
Second quarter
Third quarter
Fourth quarter

-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

2.4
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

-35.6
-16.2
4.7
-48.3

-15.4
-4.4
3.4
-20.3

630.1
630.9
651.7
676.8

289.2
285.3
291.1
299.5

249.7
244.3
259.0
278.7

114.4
110.3
116.2
124.7

380.4
386.6
392.7
398.0

174.9
175.0
174.9
174.8

p-28.5

p-12.4

p675.5

p292.6

p271.9

P117.5

P403.6

pl75.1

....
....

1981
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

See note on page 80.
Graphs of these series are shown on pages 41, 42, and 43.

APRIL 1983



81

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

^ J

Year
and
quarter

Net exports of goods and services
250. Current
dollars

Imports of goods and services

Exports of goods and services

255. Constant
(1972) dollars

(Ann. rate,
bil. dol.)

H
U l

FOREIGN TRADE

220. National income in current
dollars

?M Compensation of
employees

257. Constant
(1972) dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann, rate,
bil. dol.)

253. Current
dollars

256. Constant
(1972) dollars

252. Current
dollars

NATIONAL INCOME
AND ITS COMPONENTS

(Ann. rate,
bil. dol.)

(Ann. rate,
biL dol.)

(Ann. rate,
bil. dol.)

1980
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

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 9 404.5

1,718.0
1,750.0
1,789.1
1,813.4

31.3
34.9
6.9
9.1

36.9
35.7
27.5
27.2

359.9
365.8
349.5
328.1

151.7
154.4
147.5
138.8

328.6
330.9
342.5
319.1

114.7
118.7
120.0
111.6

2,396.9
2,425.2
2,455.6
r2,468.8

1,830.8
1,850.7
1,868.3
1,876.1

pl6.6

p24.0

p330.2

pl38.5

P313.6

P114.5

(NA)

pi , 9 0 8 . 5

14.0
24.2
39.0
23.5

First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981

31.2
23.7
25.9
23.5

First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

!

1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter . . . . . .
Fourth quarter . . . .

U J

Year
and
quarter

282. Proprietors'
income with inventory valuation and
capital consump'
tion adjustments
(Ann. rate,
bil. dol.)

A)
N
6 1 SVG

NATIONAL INCOME AND ITS COMPONENTS-Continued
284. Rental income
of persons with
capital consump; tion adjustment
(Ann. rate,
bit. dol.)

286. Corporate
profits with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)

288. Net interest

(Ann. rate,
bil. dol.)

290. Gross saving
(private and government)

(Ann. rate,
bil. dol.)

292. Personal
saving

295. Business
saving

(Ann. rate,
bil. dol.)

(Ann. ratfj,
hi!, tlol.)

1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

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

97.9
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. C
379.1
389.1

105.9
122.0
134.4
158.6

116.4
117.3
118.4
128.9

33.9
34.2
34.6
33.9

157.1
155.4
166.2

rl64.6

258.7
267.5
268.1
265.3

428.8
441.5
422.4
r363.3

380.3
384.6
394.?
r397.7

139.1
144.3
152.0
133.4

P128.5

p35.3

<NA)

P266.9

(NA)

(NA)

P131.9

122.7
108.9
115.5

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter
......
Third quarter
Fourth quarter . . . .
1983
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



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
IA I

NATIONAL INCOME AND PRODUCT-Continued

Q j SAVING—Continued
Year
and
quarter

M

298. Government
surplus or deficit,

293. Personal
saving rate

total

(percent of disposable personal
income)

SHARES OF GNP AND NATIONAL INCOME

(Ann. rate,
bil. dol,)

Percent of gross national product

(Percent)

235, Personal consumption expenditures, total
(Percent)

248. Nonresidential
fixed investment

247. Change in
business inventories

(Percent)

(Percent)

251. Net exports of
goods and services

(Percent)

249. Residential
fixed investment

(Percent)

1980
-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

0.0
0.0
-0.8
-0.6

0.5
0.9
1.5
0.9

-8.3
-7.6
-24.5
-72.5

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

1.1
0.8
0.9
0.8

-90.7
-87.5
-123.7
r-167.7

6.6
6.7
6.9
6.0

64.1
64.0
64.3
65.3

11.9
11.6
11.1
10.9

3.1
3.1
3.1
3.3

-1.2
-0.5
0.2
-1.6

1.0
1.1
0.2
0.3

(NA).

First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

p5.9

p64.7

pl0.7

p3.8

p-0.9

pO.5

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First q u a r t e r . ,
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter . . . .

^ J SHARES 0•
Year
and
quarter

GNP AND NATIONAL INCOME-Continued
Percent of national income

Percent of GNP—Continued

(Percent)

268. State and local
government purchases
of goods and services

64. Compensation of
employees

(Percent)

265. Federal Government purchases of
goods and services

(Percent)

283. Proprietors'
income with IVA
and CCAdjl

285. Rental income
of persons with
CCAdj»

289. Net interest

(Percent)

(Percent)

(Percent)

287. Corporate
profits with IVA
and CCAdj>

(Percent)

1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

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

1.5
1.6
1.6
1.6

9.4
8.3
8.4
8.2

8.4
8.8
9.0
9.2

7.6
7.5
7.7
8.3

12.6
12.6
12.4
12.5

74.9
75.3
74.9
75.4

5.4
5.3
5.3
5.2

1.5
1.5
1.4
1.4

8.7
8.0
8.1
7.6

9.5
10.0
10.2
10.4

8.3
8.0
8.4
9.0

12.7
12.7
12.7
12.8

76.4
76.3
76.1
r76.0

4.9
4.8
4.8
5.2

1.4
1.4
1.4
1.4

6.6
6.4
6.8
r6.7

10.8
11.0
10.9
10.7

p8.6

pl2.7

(NA)

(NA)

(NA)

(NA)

(NA)

7.4

7.7

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
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.

APRIL 1983



83

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY

Q | PIE
RC
Implicit price deflator,
gross national product
Year
and
month

310. Index

(1972-100)

310c. Change
over 1-quarter
spans'

(Ann. rate,
percent)

Fixed-weighted price index,
gross business product
311. Index

(1972 = 100)

311c. Change
over 1-quarter
spans'

(Ann. rate,
percent)

MOVEMENTS

Consumer prices, food

Consumer prices, all terns
320. Index < >
g

320c. Change
over 1-month
spans'

320c. Change
over 6-month
spans'

(1967-100)

(Percent)

(Ann. rate,
percent)

(1967 = 100)

322. Index

322c. Change
over 1-month
spans%

32$c. Change
over 6-month
spans l

(Percent)

(Ann. rate,
percent)

1981

10.4

190.0

April
May . . .
June . . . .

193.' 2

July . .
August
September

197li

October
November
December

20i!6

260.5
263.2
265.1

0.7
0.8
0.8

9.9
9.6
9.1

268.9
270.3
272.0

0.4
0.5
0.6

4.7
3.8

8.6

266.8
269.0
271.3

0.4
0.9
0.8

10.0
10.1
10.6

272.3
272.4
272 9

0.1
0.0
0 ?

4.8
4.9
45

9.3

274.4
276.5
?79.3

1.1
0.8
10

10,5
9.6
8 8

275.3
276.9
278 0

0.9
0.6
04

4.8
4.8
48

7.4

279.9
280.7
281.5

0.4
0.5
0.4

6.9
5.3
3.1

278.7
278.9
279.4

0.3
0.1
0.2

4.4
4.2
3.5

4.4

282.5
283.4
283.1

0.3
0.1
0.0

2.9
4.0
5.5

281.3
282.6
282.8

0.7
o.s
0.1

3.3
4.7
5.6

3.8

284.3
287.1
pan R

0.2
1.0
1 1

6.1
6.6
6 9

283.3
285.4
287 1

0.2
0.7
fi fi

4.5
3.1

5.9

292.2
292.8
293.3

0.6
0.3
0.1

7.2
5.1
2.3

287.6
286.9
287.5

0,2
-0.2
0.2

3.4
2.0
0.7

4.3

294.1
293.6
292.4

0.4
0.0
-0.3

1.4
0.4
0.5

288.1
288.2
288.1

0.2
0.0
0.0

0.5
1.0
1.8

p2.8

10.9

January
February
March

293.1
293.2
293.4

0.2
-0.2
0.1

288.3
288.3
290.1

0.1
0.0
0.6

197.1

6.8
2OL2

9.0
205! 7

8.8
209! 4

6.9

1982
January . .
February . . .
March

203 .*7

April
May
June

206! 6

July
August
September

208! 5

October . .
November
December

210*4

4.3

2li!8

4.6

213!8
5.0

2ie!s
3.7
219^2

•5 A

1983
January
February
March
April
May
June

p5.8
p213*4

p22O.'7

. ..

July
August
September
October . .
November
December
See note on pagu 80.
Graphs of these series are shown on pa^es 48 and 49.
x
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.

84



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued

PRICE MOVEMENTS-Continued
Producer prices, all commodities
Year
and
month

330. Index <u)

(1967 = 100)

330c. Change
over 1-month
spans1®

(Percent)

Producer prices, industrial commodities

330c. Change
over 6-month
spansl ®

335. Index ®

(Ann. rate,
percent)

(1967 = 100)

335c. Change
over 1-month
spans' ®

(Percent)

Producer prices, crude materials

335c. Change
over 6-month
spans l @

(Ann. rate,
percent)

331. Index

(1967 = 100)

331c. Change
over 1-month
spans l

(Percent)

331c. Change
over 6-month
spans'

(Ann. rate,
percent)

1981
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

1.7
1.4
1.3

15.8
15.6
13.3

330.0
332.6
330.6

0.9
0.8
-0.6

5.0
1.9
5.1

April
May.
June

293.4
294.1
294.8

1.1
0.2
0.2

8.2
6.2
3.8

303.5
304.7
305.1

1.3
0.4
0.1

10.3
7.9
5.3

333.6
332.4
335.5

0.9
-0.4
0.9

3.7
0.2
-1.9

July
August
September . . .

296.2
296.4
295.7

0.5
0.1
-0.2

1.8
1.0
0.7

306.2
307,
307,

0.4
0.3
0.1

3.7
3.0
3.2

336.1
333.0
327.4

0.2
-0.9
-1.7

-6.5
-8.4
-11.8

October
November . . .
December . . .

296.1
295.5
295.8

0.1
-0.2
0.1

1.4
1.5
1.6

309.0
309.3
310.0

0.5
0.1
0.2

3.7
2.9
2.4

322.5
318.1
315.1

-1.5
-1.4
-0.9

-9.2
-8.9
-6.3

January
February
March

298.3
298.6
298.0

0.8
0.1
-0.2

1.3
2.1
2.4

311.8
311.6
311.0

0.6
-0.1
-0.2

0.6
0.2
0.4

320.2
317.9
317.0

1.6
-0.7
-0.3

-1.1
5.3
6.9

April
May
June

298.0
298.6
299.3

0.0
0.2
0.2

1.4
1.1
0.9

309.9
309.6
310.6

-0.4
-0.1
0.3

0.6
1.0
1.1

320.8
326.4
325.8

1.2
1.7
-0.2

1.2
0.8
-1 0

July
August
September , . .

300.4
300.2
299.3

0.4
-0.1
-0.3

1.2
rl.l
0.9

312.8
313,
312,

0.7
0.1
-0.2

2.9
r3.5
2.9

322.1
319.1
315.4

-1.1
-0.9
-1.2

-4.0
r-5.5
-5.6

October
November . . .
December . . .

299.8
r300.3
300.6

0.2
0.2
0.1

-0.3
0.7
0.8

314.3
r315.0
315.0

0.5
rO.2
0.0

0.8
0.8
0.4

314.3
r317.3
316.5

-0.3
1.0
-0.3

-4.0
-0.9
2.6

300.0
301.2
300.5

-0.2
0.4
-0.2

314.0
314.4
313.4

-0.3
0.1
-0.3

315.6
317.6
319.4

-0.3
0.6
0.6

1982

1983
January
February
March
April
May
June
July
August
September . . .
Octobur
November . . .
December . . .
See note on page 80.
Graphs of these series are shown on page 48.
^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.

APRIL 1983



85

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY-Continued

PRICE MOVEMENTS—Continued

Year
and
month

332. Index

(1967=100)

332c. Change
over 6-month
spans'

332c. Change
over 1-month
spans 1

(Ann. rate,
percent)

(Percent)

Producer.prices, finished consumer goods

Producer prices, capital equipment

Producer prices, intermediate materials

333. Index

(1967 = 100)

333c. Change
over 1-month
spans'

(Percent)

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 l

(Ann. rate,
percent)

1981
January
February
March

297.0
298.
301.

1.2
0.4
0.9

11.4
10.6
9.4

253.5
256.1
258.1

1.1
1.0
0.8

10.1
10.5
11.0

262.2
264.8
267.7

0.9
1.0
1.1

10.7
9.7
9.6

April
May
June.

304.
305,
307.0

1.0
0.5
0.5

7.3
7.7
5.9

260.2
262,
264.

0.8
0.8
0.7

9.8
8.8
8.1

270 .,3
270,,8
272.1

1,0
0.2
0.5

8.2
6.2
4.9

July
August
September . .

307.6
309.6
309.9

0.2
0.7
0.1

4.1
3.4
2.6

265.
267.
268.

0.6
0.6
0.5

7.9
7.8
7.3

272.8
272.9
274.2

0.3
0.0
0.5

3.7
3.8
3.6

October
November . .
December . .

310.3
310.7
311.0

0.1
0.1
0.1

2.8
0.9
-0.2

270,
272.
273.6

0.7
0.7
0.5

7.1
5.6
5.7

275.3
275.9
277.0

0.4
0.2
0.4

3.8
4.0
2.1

January
February
March

311.9
311.0
309.6

0.3
-0.3
-0.5

-1.2
-1.3
-0.8

274.9
274.5
276.0

05
.

4.6
4.1
4.4

278.0
278.3
277.0

0.4
0.1
-0.5

1.5
0.7
2.2

April
May
June

308.4
308.7
309.7

-0.4
0.1
0.3

-1.0
-0.4
0.8

276.5
277.8
279.5

0.2
0.5
0.6

4.1
5.8
4.3

277.3
276.9
280.0

0.1
-0.1
1.1

2.5
3.1
4.4

July
August
September . . .

310.3
310.3
310.8

0.2
0.0
0.2

1.6
r2.0
1.4

280.5
282.3
281.9

0.4
0.6
-0.1

281.15
282,6
283.0

0.5
0.4
0.1

5.2
6.8
4.7

October
November . . .
December . . .

310.9
r311.7
311.8

0.0
0.3
0.0

0.3
0.1
-1.6

282.0
r283.1
284.6

0.0
r0.4
0.5

4.0
r3.9
3.7
2.7
2.4
3.4

284,4
r286,2
286,5

0.5
0.6
0.1

0.8
0.1
-0.7

310.8
310.5
308.3

-0.3
-0.1
-0.7

284.3
285.6
286.7

-0.1
0.5

282.6
282.8
282,0

0.1
-0.3

1982

-0,
0,

1983
January
February
March

0.4

April
May
June
July
August
September . . .
October
November . . .
December . . .
See note on page 30.
Graphs of these series are shown on paee 48.
Changes are centered within the spans:




1-month changes are placed on the 2d month and 6-month changes are placed on the 4t:h month.

APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY-Continued

WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector

Average hourly earnings, production workers, private nonfarm economy, adjusted l
Year
and
month

340. Index

340c. Change
over 1-month
spans *

Current-dollar compensation

Real earnings

Current-dollar earnings
340c. Change
over 6-month
spans 2

341c. Change
over 1-month
spans 2

341c. Change
over 6-month
spans 2

345. Index

(Percent)

(Ann. rate,
percent)

(1977 = 100)

(Percent)

(Ann. rate,
percent)

1981

March

133.7
134.8
135.7

0.8
0.8
0.6

April
May
June

136.6
137.6
138.4

0.7
0.8
0.6

July
August
September . . .

139.1
140.5
141.4

0.5
1.1
0.6

October

142.0
143.0
143.5

January
February
March

9.1
8.6
8.9

345c. Change
over 1-quarter
spans 2

345c. Change
over 4-quarter
spans2

(1977 = 100)

(Ann. rate,
percent)

(Ann. rate,
percent)

Revised3

(1977-100)

341. Index

Revised3

Revised3

92.9
92.9
92.9

0.2
0.1
0.0

93.0
92.9
92.8

0.1
-0.1
-0.1

-0.6
-0.7
0.2
-1.5
-1.1
-1.8

8.1
8.0
7.6

92,
92,
92,

-0.7
0.3
-0.4

-2.0
-1.1
-1.0

145.1

0.4
0.7
0.3

8.6
6.4
5.7

92.
92.
92.3

0.0
0.4
-0.1

2.0
1.5
3.0

147.7

144.9
145.0
145.4

1.0
0.1
0.3

6.3
6.6
6.6

93.1
93.1
93.5

0.8
0.0
0.4

3.7
2.7
1.3

150.6

April
May
June

146.3
147.7
148.1

0.6
0.9
0.3

5.7
6.8
6.5

93.7
93.6
92.9

0.3
-0.1
-0.7

-0.5
0.2
-0.6

152.8

July

August
September . . .

148.9
149.9
150.1

0.5
0.6
0.1

6.2
4.9
5.4

92.8
93.1
93,2

-0.1
0.3
0.0

-1.2
-0.3
2.9

155.3

October
November . . .
December . . .

150.8
151.2
152.1

0.5
0.2
0.6

r5.3
r4.6
P 4.5

93.2
93.5
94.3

0.0
0.4
0.8

r4.2
r4.6
p3.9

157.4

rl52.8
rl53.2
P153.4

rO.5
r0.3
pO.l

r94.8
r95.2
p95.0

r0.5
r0.5
p-0.3

January

February

November . . .
December . . .

11.9
139.6

9.5
7.2
8.9

142.0

9.0
7.9
7.4
7.6

1982

7.9
7.0
6,0
6.5
6.6
p6.1

5.5

1983
Janujiry
February
March
April

p6.1
pl59.7

. . . . . . .

May

June . . . . . . .
July

August
September . . .

October
November . . .
December . . .
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
l
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Ch;mges 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.
3
See "New Features and Changes for This Issue," page iii.

KCII

APRIL 1983




8
7

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY—Continued

WAGES AND PRODUCTIVITY—Continued
Average hourly compensation, all employees,
nonfarm business sector-Continued
Year
and
month

Negotiated wage find benefit
decisions, all industries ®
348. First year
average changes

Real compensation
346c. Change
over 1-quarter
spans'

346c. Change
over 4-quarter
spans ]

(1977=*= 100)

(Ann. rate,
percent)

(Ann. rate,
percent)

1

2

346. Index

1981

Revised

Revised

96.2

April .
May .
June .

96.0

C)
7.7

October . .
November
December

95.3

11.6

(Ann. rate,
percent)

(Ann. rate,
percent)

Revised

2

10.8

8.1

11.0

(1977-100)

Revised2

2.2

100.4

1.0

100.1

-0.6

100.0

-0.3

99.1

0.3

99.3

1.7

99.5

p2.5

100.4

0.0

1.2
101.0

5.8

0.7

Revised

2

358. Index of
output per hour
all persons,
nonfarm
business sector

5.7

100.7
10.5

0.2

2

370c. Change
over 4-quarter
spans l

100.7

r0.2

95.3

(1977-100)

7.2

-0.6
-2.7

July

370c. Change
over 1-quarter
spans'

370. Index

Revised

r-1.3
-1.2

August . .
September

(Ann. rate,
percent)

2

1.2

January
February
March

(Ann. rate,
percent)

349. Average
changes over
life of
contract

Output per hour, all persons, private
business sector

-•2.8
100.3

1982

4.8

January .
February
March . .

96.5

April
May
June

96.6

July
August
September . . .

96.4

October . .
November
December

97.2

1.9

1.2

1.1
0.7

2.6

1.9

r2.1

4.7

p2.4
3.5

1.3

100.4
6.2

-1.1

-0.8
100.1

3.7
101.3

r3.3

r4.8

2.6
100.4

102.0

1983

January . .
February .
March . . .

p6.5

p98.8

p-1.8

pi.4
plO2.6

P2.2

plO1.6

April . ,
May . ,
June . ,
July . . . .
August . .„
September
October . .
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
1
Changes are centered within the spans: 1-quarter changes are placed om the 1st month of the 2d quarter and 4-quarter changes are placed
on the middle month of the 3d quarter.
a
See "New Features and Changes for This Issue," page iii.




APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

D
Civilian labor force
Year
and
month

441. Total

442. Employed

|

CIVILIAN L B R FORCE AND MAJOR COMPONENTS
AO

Labor force participation rates

Number unemployed

447. Fulltime
workers

448. Number employed
part-time
for economic
reasons

451. Males
20 years
and over

452. Females
20 years
and over

453. Both
sexes, 16-19
years of age

(Percent)

(Percent)

(Percent)

8,048
8,032
7,967

3,479
3,500
3,439

2,809
2.766
2,765

1,760
1,766
1,763

6,620
6,602
6,541

4.467
4,182
4,222

37. Total

444. Males
20 years
and over

445. Females
20 years
and over

446. Both
sexes, 16-19
years of age

(Thous.)

(Thous.)

(Thous.)

(Thous.)

(Thous.)

(Thous.)

(Thous.)

January
Februsiry
March

108,012
108,175
108,471

99,964
100,143
100,504

79.1
79.1

51.8
51.9

79.2

52.0

56.6
56.5
56.3

April
June

108,866
109,101
108,440

101,006
100,968
100,393

79.3
79.4
78.9

52.2
52.4
52.2

56.9
56.2
54.4

7,860
8,133
8.047

3,353
3,540
3,492

2,760
2,846
2,830

1,747
1,747
1,725

6,429
6,617
6,581

4,149
4,242
4,088

July
August
September

108,602
108,762
108,375

100,748
100,709
100,104

78.9
78.9
78.7

52.2
52.1
51.7

54.5
55.2
54.9

7,854
8,053
8,271

3,343
3,513
3,559

2,867
2,849
2,953

1,644
1,691
1,759

6,428
6,473
6,762

4,432
4,448
4,612

October
November
December

109,028
109,254
109,066

100,355
100,229
99,677

78.7
78.7
78.8

52.3
52.4
52.2

54.9
55.0
53.9

8,673
9,025
9,389

3,815
4,026
4,367

3,043
3,105
3,174

1.815
1,894
1,848

7,137
7.442
7,990

4,948
5,005
5,325

January
February
March

109,034
109,364
109,478

99,688
99,695
99,597

78.6
78.7
78.6

52.2
52.3
52.5

54.2
54.5
53.8

9,346
9,669
9,881

4,362
4,451
4,607

3,109
3,286
3,402

1,875
1,932
1,872

7,822
8,000
8,346

5,066
5,489

5,611

April
May
June

109,740
110,378
110,147

99,484
99,994
99,681

78.7
78.9
78.8

52.5
52.8
52.9

54.2
55.2
53.0

10,256
10,384
10,466

4,770
4,818
5,016

3,528
3,568
3,565

1,958
1,998
1,885

8,575
8,689
8,878

5.750
5.731
5.561

July
August
September

110,416
110,614
110,858

99,588
99,683
99,543

78.8
78.7
79.0

53.0
53.0
52.9

53.2
54.2
54.3

10,828
10,931
11,315

5.150
5.232
5,578

3,672
3,671
3,710

2,006
2,028
2,027

9,036
9,209
9,622

5,577
5.820
6,495

October
November
December

110,752
111,042
111,129

99,176
99,136
99,093

78.9
78.9
78.7

52.8
52.9
53.1

54.1
54.4
53.9

11,576
11,906
12,036

5,714
5,865
5,909

3,824
3,989
4,071

2,038
2,052
2,056

9.942
10,127
10,285

6,403
6,411
6,425

110,548
110,553
110,484

99,103
99.063
99,103

78.1
78.2
78.1

52.9
52.9
52.8

53.5
52.7
52 8

11,446
11,490
11 381

5,597
5,749
5 581

3,963
3,925

1,886
1,815

9,810
9,872

6,845
6,481

r> o o q

1

(Thous.)

1981

May

....

1982

..
.
.

..

1983
January
February
March .

Oil

q 7C1

April

May
June
July
August
September
October
November
December . ."
See note on page 80.
Graphs of these series are shown on page 5 1 .

APRIL 1983



89

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES

DEFENSE INDICATORS

RECEIPTS AND EXPENDITURES

Year
and
month

Advance measures of defense activity

State and local governments'

Federal Government'

517. Defense
Department
gross obligations incurred

525. Defense
Department
military prime
contract
awards

543. Defense
Department
gross unpaid
obligations
outstanding

543. Value of
manufacturers'
new orders,
defense
products

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

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.)

January .
February
March . .

-39.7

620.0

659.7

31.3

410.0

378.6

14,808
15,741
15,560

7,155
7,514
7.59C

82,087
83,608
84,883

4,341
5,340
4,198

April .
May .
June .

-40.5

627.0

667.5

32.9

415.2

382.2

15,210
15,699
15,156

8,505
7,967
7,041

84,994
85,163
86,125

4,153
4,842
4,680

July
August . .
September

-58.0

640.2

698.2

33.5

.420.3

386.9

16,836
17,374
16,584

8,345
9,504
9,325

87,968
89,857
91,896

5,010
5,010
5,927

-101.7

625.7

727.4

29.1

421.5

392.4

12,892
15,674
19,805

4,466
9,317
9,049

91,354
92,575
93,827

4,109
5,003
5,644

January . . .
February . .
March

-118.4

609.9

728.3

27.7

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 .

-119.6

617.0

736.6

32.1

434.3

402.2

20,793
17,786
17,503

10,518
9,657
14,296

108,428
108,841
109,654

6,174
4,775
5,437

July
August
September . . ,

-156.0

613.7

769.7

32.3

440.5

408.2

17,669
16,448
18,387

8,610
8,928
10,296

110,885
110,787
111,857

4,684
5,314
4,335

October
November . . .
December . . .

r-204.2

r615.0

819.2

r36.4

r450.0

413.5

16,476
18,599
24,396

5,423
10,209
17,298

111,866
113,647
119,788

4,821
5,091
11,309

(NA)

(NA)

P802.2

(NA)

(NA)

P419.0

21,340
pl9,502

16,908
pl3,042

<NA]

(NA)

122,628
123,803

8,882
r6,140
p6,939

1981

October
November , . .
December . . ,

1982

1983
January
February
March

(NA)

April
May . . . ,
June
July
August
September . . .
October
November , . .
December , . .
See note on page, 80.
Graphs of these series are shown on paces 52 :ind 53.
1
Based on national income and product accounts.

90



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES-Continued

DEFENSE INDICATORS-Continued
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 ®

578. Civilian,
direct hire
employment @

(Thous.)

(Thous.)

564. Federal
purchases of
goods and
services

565. Federal
purchases as
a percent of
GNP

(Ann. rate,
bil. dol.)

(Percent)

1981
January
Febiruary
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

5.0

April
May . . . . . . .
Jum;

101,
102,
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

150.5

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

January
February
March

105,
106,
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,
107,
107,

13,946
14,029
14,227

83,808
83,914
84,530

15,670
15,379
15,334

4,271
4,669
4,821

1,373
1,369
1,367

2,106
2,104
2,108

1,022
1,028
1,045

176.2

5.8

July
August
September . . ,

109,
109.
109.5

14,205
14,459
14,869

84,413
85,081
84,557

16,312
15,050
16,881

4,800
4,647
4,859

1,368
1,358
1,360

2,110
2,109
2,109

1,051
1,043
990

182.7

5.9

111.9
113.6
rll5.9

15,204
15,351
15,830

84,452
84,593
90,800

15,972
17,087
16,779

4,925
4,951
5,100

1,356
1,355
1,351

2,108
2,114
2,113

1,016
1,024
1,027

189.3

6.1

H16.5
P117.4

16,420
16,476
(NA)

94,643
r95,579
p97,291

17,058
rl6,772
(NA)

5,042
r5,202
p5,228

rl,345
pi,347
(NA)

2,120
2,122
p2,127

1,024
1,028

P191.6

p6.0

1982

October

November . . .
December . . .
1983
January
February
March

(NA)

April
May
June
July
August
September . . .
October
December , . .
Set! note on page 80.
Graphs of these series are shown on pages 54 and 55.

APRIL 1983



91

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS

MERCHANDISE TRADE

Year
and
month

602. Exports, excluding
military aid shipments,
total

(Mil. dol.)

604. Exports of agricultural products

(Mil. dol.)

606. Exports of nonelectrical machinery

(Mil. dol.)

612. General imports,
total

lil. dol.)

Revised

1981

614. Imports of
petroleum and
petroleum products

(Mil. dol.)

616. Imports of
automobiles and parts

. dol.)

1

January
February
March . . . . . . .

18,902
19,788
21,2178

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

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

18,584
18,614
18,462

3,258
3,590
3,225

4,346
4,054
3,997

22,573
19,570
20,018

6,810
4,396
4,290

2,389
2,135
2,596

April .
May
June

18,005
18,124
18,823

3,400
3,527
3,332

3,932
3,957
4,211

17,714
20,477
21,187

3,894
4,180
4,855

2,389
2,785
2,626

July
August
September . . .

18,060
17,463
17,320

2,789
2,763
2,648

4,305
3,856
4,197

19,849
22,930
20,581

5,624
5,731
4,903

2,455
2,795
2,370

October
November . ..
December .. .

16,671
15,852
16,347

2,681
2,783
2,637

3,829
3,686
3,719

21,006
18,892
19,154

5,433
4,757
4,694

2,444
2,130
2,189

17,393
16,326
(NA)

3,128
2,985

3,644
3,359
(NA)

20,021
19,015
(NA)

4,166

2,329
3,019

November , ..
Oecember . ..
1982

1983

January
February
March

(NA)

2,859
(NA)

(NA)

April
May
June
July
August
September . . .
October
November . . .
December . . .
See note on page 80.
Graphs of these seiies are shown on pif« 56.

*See "New Features and Changes for This Isisue, page, i i i .

92



APRIL 1983

ItCII

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS-Continued

Q j

GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjustedl

Goods and services
Year
and
month

668. Exports

667. Balance

(Mil. dol.)

(Mil. dol.)

669. Imports

(Mil. dol.)

622. Balance

(Mil. dol.)

618. Exports

(Mil. dol.)

Income on investments
620. Imports

(Mil. dol.)

651. U.S. investments abroad

(Mil. dol.)

652. Foreign
investments in
the United
States

(Mil. dol.)

1981
January
February
March

4,667

93,280

88,613

-4,312

60,683

64,995

20,528

12,405

April
May . . . .
June

2,909

94,389

91,480

-6,547

60,284

66,831

21,642

13,44i

2,559

92,965

90,406

-7,845

57,694

65,539

22,048

13,865

943

92,259

91,Ho"

-9J85

57,593

66,778

21,727

13,198

3,082

90,014

86,932

-5,938

55,607

61,545

20,896

14,029

3,928

91,088

87,160

-5,762

55,001

60,763

22,568

14,874

-3,565

87,i32

90,697

-12,495

52,334

64,829

21,626

14,544

p-3,672

p81,855

p85,527

P-12J36

p48,07i

p60,207

p20,811

pl3,735

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

July
August
September

. ..
.. .

October
November
December

...

.

1982
January
February .
March

...

April
May
June
Juty
August
September

..

October .
November
December . . . . . . .
1983
January
February
March
April
May
June
July
August
September
October
November
December

•
..
..

See note on page 80.
Graphs of these series are shown on p a p 57.
Mialance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department
of Defense purchases (imports).

APRIL 1983



93

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS

INDUSTRIAL PRODUCTION

Year
and
month

47. United States,
index of industrial production

(1967-100)

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)

156
159
157

116
117
117

158.6
170.3
169.3

163.8
166.0
168.0

156
159
160

117
116
118

168.4
158.0
159.8

169.7
170.2
172.7

W: Italy, index
of industrial
production

(1967-100)

723, Canada,
index of industrial production

(1967 --=100)

1981

January
February
March

151.4
151.8
152.1

154
159
158

237.2
237.0
237.7

April
May
June

151.9
152.7
152.9

156
156
155

238.0
235.2
240,7

156
164
160
160
160
156

, July
August
September . . .

153.9
153.6
151.6

158
152
158

243.1
240.7
245.6

157
157
160

157
157
160

118
118
118

165.2
137.2
164.1

170.4
164.5
163.8

October
November .. .
December . . .

149.1
146.3
143.4

158
158
156

248.3
248.4
247.1

160
157
156

160
159
160

121
120
118

158.4
168.1
160.4

161.3
158.4
157.2

January
February
March

140.7
142.9
141.7

156
158
158

245.8
244.0
247.1

rl6O
161
161

157
156
156

118
118
120

156.2
154.7
152.5

April
May
June

140.2
139.2
1.38.7

156
156
154

242.6
238.
244,

157
157
157

July
August
September .. .

138.8
138.4
137.3

152
151
152

245.
244,
247,

160
157
154
rl5O
154
152

154
154
154

120
120
118
118
rll8
120

161.9
169.8
rl65.7
rl64.7
162.7
154.9
159.6
146.4
rl54.1

143.3
149.5
144.5

October
November ., .
December . . .

135.7
134.9
135.2

151
rl51
151

239.7
246.8
p244.8

150
150
149

156
156
rl54

rll8
117
120

149.7
155.5
rl51.8

140.0
rl41.0
rl39.3

rl37.2
r!37.6
p!39.1

p!52
(NA)

(NA)

rl52
(NA)

pi 56
(NA)

pl2O
(NA)

pl51.8
(NA)

147.1
P149.6
(NA)

1982

150.5
151.8
148.0

1983

January
February
March
April
May
June
July
August
September . . .
October
November . . .
December . . .

See note on page 80.
Graphs of these serins artt shown on page 58.

Organization for Economic Cooperation and Development.

94



APRIL 1983

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued

CONSUMER PRICES

Year
and
month

320. Index ®

(1967-100)

West Germany

Japan

United States
320c. Change
over 6 month
spans l

(Ann. rate,
percent)

738. Index ®

(1967 = 100)

738c, Change
over 6-month
spans'

(Ann. rate,
percent)

735. Index ©

United Kingdom

France

735c, Change
over 6-month
spans *

736. Index ®

(1967 = 100)

(Ann. rate,
percent)

(1967 = 100)

736c. Change
over 6-month
spans'

(Ann. rate,
percent)

732. Index ©

(1967 = 100)

732c. Change
over 6-month
spans l

(Ann. rate,
percent)

1981
January
February
March

260.5
263.2
265.1

9.9
9.6
9.1

291.1
290.8
292.2

4.4
3.1

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

10.0
10.1
10.6

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,
15.

469.4
472.4
475.2

12.5
12.1
10.7

July
August
September . . .

274,
276.
279.

10.5
9.6
8.8

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,
15.
15.

477.3
480.8
483.5

10.4
11.8
12.5

October
November . . .
December . . .

279.9
280.7
281.5

6.9
5.3
3.1

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.
350.
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

2.9
4.0
5.5

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
Junis

284.3
287.1
290.6

6.1
6.6
6.9

302,9
303.8
303.8

-0.5
2.9
4.0

194.0
195.2
197.1

4.9
5.4
6.3

368.2
371.
373.

9.9
8.2
7.2

513.6
517.3
518.9

6.0
6.0
4.7

July
August
September . , .

292.2
292.8
293.3

7.2
5.1
2.3

301.5
303.8
309.1

4.4
4.1
3.7

197.6
197.3
197.9

6.8
5.9
4.0

374.7
375.9
377.5

5.8
6.9
7.3

518.9
519.0
518.7

5.3
5.3
4.2

October
November . . .
December

294.1
293.6
292.4

1.4
0.4
0.5

310.0
306.6
306.0

4.0
7.2
(NA)

198.5
198.9
199.4

2.7
2.3
(NA)

379,
383.
386.4

9.5
10.3
(NA)

521.3
523.9
522.9

4,0
r5.6
(NA)

1982

1983
January
February
March

293.1
293.2
293.4

306.6
305.5
(NA)

199.8
200.0
(NA)

390.1
392.9
(NA)

523.5
r525.8
(NA)

Aprol
May
June
July
August
September . . .
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.

ItCII APRIL 1983



95

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued

STOCK PRICES

CONSUMER PRICES—Continued
Canada

Italy
Year
and
month

737. Index <

737c. Change
over 6-month
spansl

733. Index (g) 733c. Change
over 6-month
spansx

(1967-100)

(Ann. rate,
percent)

January
February
March

440.7
449.1
455.4

20.1
20.1
19.3

259.1
261.7
265.2

April
May
June

461,
468.
473.

18.9
18.2
16.8

July
August
September . . .

477.
481.
487.

17.7
16.8
17.0

276.
278.
280,

October
November . . .
December . ..

497.5
506.0
511.1

15.8
15.3
15.6

January
February
March

517.7
524.4
529.1

April
May
June

(Ann. rate,
percent)

267.2
269.6
273.8

(1967 = 100)

19. United
States, index
of stock
prices, 500
common
stocks ®

748. Japan,
index of
stock
prices (§)

745. West
Germany,
index of
stock
prices @

746. France,,
index of
stock
prices <§)

(1967 = 100)

(1967 = 100)

(1967-100)

747. Italy,
index of
stock
prices @

743. Canada,
index of
stock
prices ©

(1967-100)

(1967-100)

742. United
Kingdom,
index of
stock
prices @

(1967-100)

1981
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
122,2
125.9

223.7
218.6
233.9

146.2
143.
143,

494.6
502.8
515.2

122.7
122.
126,

197.7
162.5
152.3

293.2
295.6
289.0

132,4
135.9
123.fi

232.3
245.7
242.9

12.2
12.2
11.0

140.5
141.0
128.7

534.4
540.7
511.3

127.
122,
122,

168.9
177.4
176.5

284.8
293.6
278.9

99.1
112.0
99.1

232.3
231.6
192.3

283.0
285.4
286.7

10.6
10.9
11.2

130,
133,
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

93.(1
96,9

190.4
208.9
201.2

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

533.9
539.8
545.2

15.9
19.0
18.7

297.5
301.5
304.5

11.1
10.2
9.5

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.
563,
571.

20.6
19.8
19.1

306.1
307,
309.

9.4
8.2
7.2

119.0
119.3
133.2

480.8
474.3
481.6

113.5
112.3
115.6

161.1
169.3
168.4

313.2
320.1
343.5

78.4
86.1
85.8

156.8
177.4
177.3

October
November .. .
December . . .

582.7
590.3
594.4

16.
13,
14.4

311.
313.
313.4

5.7
4.7
5.0

144.3
150.2
151.6

490.4
512.7
528.2

118.2
118.8
124.3

170.7
174.5
169.9

360.7
372.0
365.0

86.4
88.8
91.2

192.6
189.7
199.5

156.9
159.7
165.2

533.3
530.8
544.2

126.0
131.9
143.9

181.8
rpl88.4
rpl94.2

371.9
381.6
388.3

95.6
plO9.9
rpll6.0

210.0
216.6
rp221.7

P169.9

p565.9

P154.8

p207.8

p406.3

P112.8

p229.2

13.1
12.2
13.2

1982

1983
January
February
March

602.7
610.5
616.0

312.5
313.9
317.1

April
May
June
July
August
September . . .
October
November , ..
December ....
See note on page 80.
Graphs of these series are shown on paje 59.
x
Changes over 6-month spans are centered on the 4th month.

96



APRIL 1983

C.

Historical Data for Selected Series
Year

Jan. 1 Feb.

Mar.

Apr.
66.

1948...
1949..
1950..
1951..
1952..
1953..
1954,.
1955..
1956.,
1957..
1956..
1955)..
I960..
1961..
1962..
1963..
1964..
1965..
1966..
1967..
I960..

1969..
1970..
1971..
1973..
1974..
197!i. .
197*5..
1977.,
197(3.,
197*}..
1980.,

198U.
1982,.

7,167
9,371
12,232
15,386
15,953
20,563
23,809
24,777
30,093
32,814
34,933
35,135
40,863
44,596
45,590
50,878
57,782
65,406
73,468
78,506
81,774
90,987
99,973
106,716
116,870
134,989
154,058
162,647
170,886
194,170
229,739
273,707
310,489
309,765
328,059

7,342
9,520
12,546
15,516
16,046
20,984
23,821
25,151
30,399
33,053
34,846
35,499
41,255
44,656
46,007
51,499
57,997
66,281
74,195
78,930
81,904
92,448
100,468
107,424
116,751
136,998
155,245
163,755
169,612
197,086
233,173
278,525
308,653
312,736
328,781

7,719
9,667
12,801
15,531
16,169
21,569
23,744
25,732
30,798
33,232
34,679
35,891
41,825
44,502
46,184
51,857
59,147
66,760
74,604
78,969
83,331
92,905
100,515
107,901
118,947
138,615
155,514
162,433
173,686
199,950
236,567
280,963
313,399
314,663
328,999

7,987
9,870
13,027
15,429
16,345
21,944
23,743
26,243
31,048
33,378
34.540
36,316
42,348
44,323
46,686
52,466
59,679
67,677
74,953
78,967
84,030
93,830
100,473
108,480
120,345
140,197
156,498
162,213
175,601
203,067
239,955
284,753
311,396
316,792
330,634
85.

194B...
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..
19U0..
1901..
19(12..

0.27
-0,27
0.27
0.44
0.33
0.00
0.16
0.54
0.23
0.00
-0.30
0.79
0,00
0.28
0.07
0.34
0.39
0.31
0.77
-0.06
0.49
0.65
1.07
0.60
0,91
0.99
0,49
-0.04
0,55
0,87
1.13
0.11
0.62
0.63
1.63

-0.18
0.00
0.55
0.35
0.41
0.00
0.08
0.61
0.00
-0.07
0.53
0.36
-0.07
0.42
0.27
0.40
0.32
0.12
0.29
0.69
0.32
0.35
-0.77
0.69
0.77
0.16
0.45
0,25
0.65
0.77
0.15
0,41
1.07
0.77
0.04
95.

1948..
1949..
1950..
1952..
1953..
1954..
1955..
1956..
1957..
1958..
1959..
1960..
1961..
1962..
1963..
1964.,
1965..
1966..
1967..
1968..
1969*.
1970..
1972.!
1973..
1974..
1975..
1976.,
1977..
1978.,
1979..
1<»81*.'.

3.56
4.51
5.65
6.31
6.11
7.28
8.29
8.32
9.33
9.57
9.87
9.41
10.28
10.97
10.57
11.11
11.95
12.54
12.97
12.80
12.46
12.57
12.76
12.70
12.84
13.34
13.77
13.46
12.77
13.30
14.11
14.77
14.95
13.42
13.13

3.66
4.60
5.72
6.29
6.06
7.38
8.26
8.40
9.37
9;55
9.86
9.45
10.38
10.93
10.59
11.30
11.94
12.70
12,97
12.85
12.34
12,67
12.75
12.73
12.67
13.35
13.80
13.49
12.56
13.34
14.19
14.89
14.81
13.42
13.08

-0.54
0.00
0.36
0.43
0.16
0.48
0.08
-0.23
0.15
0.07
0.22
0.29
-0.07
0.21
0.20
0.20
0.13
0.37
0.53
1.03
0.43
0.35
0.73
0.87
0.94
-0.08
0.56
0.72
0.41
0.70
0.38
0.77
-0.15
1.10
0.13
RATIO
3.78
4.65
5.70
6.23
6.09
7.52
8.27
8.52
9.45
9.56
9.76
9.48
10.51
10.85
10. S4
11.33
12.11
12.72
12.96
12.77
12.42
12.62
12.67
12.69
12.83
13.39
13.74
13.32
12.81
13.39
14.22
14.85
14.93
13.38
13.06

8,197
10,130
13,344
15,385
16,892
22,334
23,725
26,773
31,288
33,642
34,456
36,802
42,691
44,270
47,137
52,974
60,399
68,458
75,292
79,034
84,724
94,780
100,717
109,105
121,692
142,229
157,880
162,080
177,150
206,090
244,473
287,905
308,029
318,794
332,142

8,378
10,373
13,768
15,357
17,524
22,605
23,770
27,337
31,443
33,814
34,324
37,321
43,055
.44,310
47,587
53,530
61,023
69,081
75,660
79,367
85,442
95,611
101,346
109,825
123,347
143,995
159,058
162,408
178,940
208,847
249,074
290,265
305,080
319,859
333,884

-0.27
0.09
0.63
0.17
' 0.25
0.24
-0.47
0.23
0.22
0.00
0.37
-0.07
-0.14
0.14
0.34
0.40
0.19
0.37
0.75
-0.34
0.64
0.30
0.67
0.72
0.59
0.31
0.04
-0.25
0.61
0.69
0.94
1.03
-2.00
1.22
0.16

-0.18
0.18
0.45
0.35
0.33
0.16
0.87
0.53
-0.15
0.07
0.37
0.71
0.07
0.42
0.27
0.40

0.38
-0.24
-0.29
0.85
0.74
0.05
0.14
0.85
0.17
0.94
0.30
1.11
0.77
0.25
1.07
0.38
0.52
0.00
0.69

-0,09
-0.18
0,36
0.34
0.41
0.00
0.16
-0.15
0.15
-0.07
0.67
0.35
0.00
0.14
-0.20
0.07
0.19
0.37
0.17
0.79
0.74
0.30
0.14
0.67
0.34
0.81
0.44
1.38
0.03
0.44
0.66
1.26
1.34
0.05
0.22

Aug.

July
8,583
10,571
14,300
15,222
17,929
22,952
23,837
27,756
31,571
34,088
34,317
37,891
43,325
44,352
48,027
54,141
61,659
69,780
76,187
79,587
86,170
96,339
102,179
110,771
124,383
145,927
160,221
163,842
180,664
211,597
252,402
293,179
304,422
321,466
334,276

CHANGE IN MONEY SUPPLY Ml
(MONTHLY RATE, PERCENT)
0.18
-0.09
0.45
0.43
0.24
0.08
0.31
0.30
0.00
0.07
0.00
0.42
0.43
0.07
0.00
0.59
0.76
0.49
-0.69
0.61
0.57
0.20
0.19
0.49
0.79
0.23
0.18
0.17
0.27
0.75
0.54
1.06
1.24
0.49
0.22

Sept.

Oct.

Nov.

Dec.

IQ

II Q

\

3.89
4.76
5.93
6,12
6.16
7.64
8.30
8.61
9.44
9.59
9.75
9.51
10.55
10.79
10.59
11.42
12,13
12.80
12.96
12.74
12.43
12.64
12.36
12,70
12.90
13.45
13.70
13.21
12.86
13.51
14.22
14.97
14.84
13.40
13.04

3.97
4.90
6.06
6.07
6.30
7.74
8.27
8.71
9.50
9.62
9.69
9.57
10.59
10.70
10.67
11.47
12. 20
12.83
12.97
12.70
12.40
12.69
12.45
12.70
12.96
13.55
13.64
13.05
12.88
13.61
14.37
15.03
14.61
13.40
12.99
2

3.97
5.07
6,22
6.02
6.50
7.80
8.28
8.86
9.49
9.60
9.60
9.64
10.68
10.60
10.74
11.50
12.26
12.85
12.92
12.66
12.40
12.71
12.52
12.49
13.25
13.60
13,61
12.76
12.96
13.68
14.48
15.02
14.37
13.34
13,01

4.06
5.20
6.34
5.97
6.67
7.93
8.29
8.86
9.55
9.63
9.43
9.77
10.73
10.57
10.80
11.61
12.32
12.91
12.93
12.60
12.40
12,69
12.55
12.74
13.12
13.66
13.56
12.91
12.96
13.67
14.46
14.92
14.08
13.19
12.91

IIIQ

IV Q

Annual

E MD OF PERIOD

8,786
10,800
14,649
15,327
18,224
23,203
23,878
28,302
31,823
34,283
34,277
38,528
43,550
44,475
48,461
54,736
62,239
70,444
76,608
79,976
86,782
96,913
102,714
111,823
125,896
147,425
161,438
164,870
182,486
214,522
255,702
296,109
305,599
323,272
334,343

9,027
11,054
15,038
15,458
18,613
23,428
23,984
28,838
31,987
34,476
34,364
39,127
43,826
44,669
48,866
55,304
62,982
71,108
76,950
80,395
87,440
97,718
103,322
112,956
127,130
148,806
162,245
165,719
184,482
217,440
258,928
299,556
305,396
326,083
335,180

9,074
11,375
15,179
15,550
19,198
23,655
24,101
29,130
32,Ifi7
34,653
34,311
39,698
43,996
44,854
49,297
55,976
63,563
71,602
77,268
80,571
88,347
98,376
103,45R
113,885
128,339
150,481
162,501
166,924
186,594
220,284
261,786
302,570
306,473
326,867
335,593

9,167
11,684
15,145
15,710
19,593
23,846
24,223
29,451
32,479
34,804
34,437
40,121
44,227
45,119
49,862
56,511
63,966
72,212
77,690
81,136
89,189
99,076
103,268
115,143
129,685
152,017
162,376
168,028
188,129
223,655
265,461
305,601
307,649
326,504
336,897

9,278
11,946
15,166
15,859
20,121
23,870
24,470
29,809
32,660
34,914
34,736
40,421
44,335
45,438
50,375
57,056
64,674
72,814
78,162
81,783
90,112
99,381
103,905
116,434
131,258
152,910
162,203
169,387
190,725
226,646
269,392
307,115
308,137
326,274
339,316

7,719
9,667
12,801
15,531
16,169
21.S69
23,744
25,732
30,798
33,232
34,679
35,891
41,825
44,502
46,184
51,857
59,147
66,760
74,604
78,969
83,331
92,905
100,515
107,901
118,947
138,615
155,514
162,433
173,686
199,950
236,567
280,963
313,399
314,663
328,999

8,378
10,373
13,768
15,357
17,524
22,605
23,770
27,337
31,443
33,814
34,324
37,321
43,055
44,310
47,587
53,530
61,023
69,081
75,660
79,367
85,442
95,611
101,346
109,825
123,347
143,995
159,058
162,408
178,940
20R,847
249,074
290,265
305,080
319,859
333,884

-0.09
-0.09
0.18
0.68
0.57
-0,08
0.16
0.15
0.37
-0.22
0.22
-0.56
-0.07
0.21
-0.14
0.13
0.56
0.73
0.70
0.50
0.52
0.25
0.75
0.31
0.86
0.04
0.33
0.35
0.20
0.71
0.99
0.52
1.33
-0.09
1.07

-0.09
0.00
0.35
0.51
0.24
0.08
0.47
0.15
0.07
-0.22
0.44
-0.42
-0.21
0.28
0.27
0.46
0.37
0.72
-0.46
0.60
0.67
0.39
0.33
0.22
0.77
0.38
0.40
-0.24
0.96
0.82
0.25
0.13
0.85
-0.05
1.19

-0.27
0.09
0.18
0.76
0.32
0.00
0.46
-0.23
0.22
-0.15
0.58
0.00
-0.07
0,41
0.41
0.65
0.37
0.42
0.12
0.33
0.97
0.29
0.37
0.22
0.53
0.76
0.58
1.01
0.36
0.60
0.59
0.03
0.34
0.60
1.13

-0.27
O.lfl
0.26
0.5R
0.16
0.08
0.15
0.23
0.22
-0.30
0.14
-0.28
-0.07
0.27
0.34
-0.26
0.19
0.65
0.35
0,49
0.71
0.10
0.51
0.35
1.21
0.72
0.25
-0.07
0.94
0.69
0.78
0,62
-0.60
.1.08
0.89

-0.15
-0.09
0.39
0.41
0.30
0,16
0.11
0.31
0.13
0.00

-0.18
0.03
0.48
0.29
0.33
0.13
0.19
0.20
0.07
0.00
0.47
0.33
-0.02
0.23
0.14
0.29
0.25
0.17
0.21
0.43
0.71
0.22
0.32
0.75
0.37
0.69
0.26
0.75
0.47
0.46
0.89
0.89
-0.05
0.42
0.36

4.22
5.56
6.45
5.95
6.85
8.14
8.23
9.17
9.44
9.78
9.36
10.27
10.83
10.56
10.97
11.80
12.52
12.91
12.82
12.59
12.43
12.72
12.57
12.91
13.06
13.69
13.49
12.77
13.12
13.82
14.53
15.00
13.70
13.14
12.86

4.29
5.65
6. 38
5.99
7.01
8.26
8.20
9.21
9.52
9.R1
9.28
10.27
10.90
10.52
11.04
11.88
12.51
12.91
12.81
12.56
12.46
12.77
12.52
12.96
13.02
13.69
13.48
12.78
13.06
13.90
14,59
15.02
13.61
13.07
12,82

4.39
5.74
6.25
6.03
7.15
8.29
8.26
9.26
9.52
9.87
. 9.32
10.20
11.00
10.53
"11.10
11. R8
12.50
12.91
12.85
12.52
12.51
12.71
12.50
12.94
13.07
13.70
13.41
12.82
13.13
13.95
14.61
14.97
13.50
13.06
12.88

3.67
4.59
5.69
6.28
6.09
7.39
8.27
8.41
9.38
9.56
9.83
9.45
10.39
10.92
10. 57
11.25
12.00
12.65
12.97
12.81
12.41
12.62
12.73
12.71
12.78
13.36
13.77
13.42
12.71
13.34
14.17
14.84
14.90
13.41
13.09

9,027
11,054
15,038
15,458
18,613
23,428
23,984
28,838
31,987
34,476
34,364
39,127
43,826
44,669
48,866
55,304
62,982
71,108
76,950
80,395
87,440
97,718
103,322
112,956
127,130
148,806
162,245
165,719
1R4.482
217,440
258,928
299,556
305,396
326,083
335,180

9,278
11,946
15,166
15,859
20,121
23,870
24,470
29,R09
32,660
34,914
34,736
40,421
44,335
45,438
50,375
57,056
64,674
72,814
78,162
81,783
90,112
99,381
103,905
116,434
131,258
152,910
162,203
169,387
190,725
226,646
269,392
307,115
308,137
326,274
339,316

9,278
11,946
15,166
15,859
20,121
23,870
24,470
29,809
32,660
34,914
34,736
40,421
44,335
45,438
50,375
57,056
64,674
72,814
78,162
81,783
90,112
99,381
103,905
116,434
131,258
152,910
162,203
169,387
190,725
226,646
269,392
307,115
308,137
326,274
339,316

•

AVERAGE FOR PERIOD
0.09
-0.18
0.35
0.43
0.32
0.08
0.31
0.00
-0.22
0.07
0.51
0.07
0.78
0.42
0.00
0.26
0.63
0.36
0.23
0.89
0.68
-0.05
0.95
0.40
0.95
0.12
0.29
0.42
0.70
0.52
0.48
0.58
1.78
0.44

o.ae

o;is
0.48
-0.05
0.30
0.18
0.31
0.28
0.27
0.53
0.55
0.41
0.45
0.34
0.72
0.87
0.36
0.50
0.31
0.54
0.78
0.55
0.43
0.51
0.83
0.60

CONSUMER INSTALLMENT CREDIT TO I'ERSOKfAL INCOME 1
(PERCENT)

This series contains revisions beginning vrtth 1948.




June

My
a

CONSUMER INSTALLMENT CREDIT
(MILLIONS OP DOLLARS)

4.11
5.27
6.37
5.95
6.60
8.04
8.26
9.02
9.49
9.64
9.42
10.01
10.78
10.59
10.87
11.68
12.34
12.98
12.89
12.58
12.39
12.67
12.54
12.77
13.13
13,68
13.61
12.82
12.99
13.75
14.52
14.93
14.00
13.14
12.90

4.21
5.31
6.48
5.98
6.67
fl.12
8.24
9.13
9.47
9.73
9.39
10.14
10.83
10.61
10.90
11.73
12.42
12.75
12.84
12.60
12.39
12.70
12,53
12.85
13.19
13.67
13.59
12.79
13.05
13.80
14.56
15.00
13.82
13.16
12.91

0.06
-0.12
0.33
0.51
0.38
0.03
0.26
0.15
0.05
-0.03
0.24
-0.02
0.38
0.23
-0.05
0.33
0.65
0.53
0.08
0.67
0.59
0.13
0.63
0.40
0.87
0.13
0.27
0.31
0.39
0.66
0.67
0.72
1.45
0.28
0.72

-0.21
0.09
0.26
0.62
0.24
0.05
0.36
0.05
0.17
-0.22
0.39
-0.23
-0.12
0.32
0.34
0.28
0.31
0.60
0.00
0.47
0.78
0.26
0.40
0.26
0.84
0.62
0.41
0.23
0.75
0.70
0.54
0.26
0.20
0.54
1.07

-0.12
-0.02
0.37
0.46
0.31
0.09
0.23
0.18
0.10
-0.06
0.31
0.14
0.05
0.27
0.15
0,30
0.37
0.39
0.21
0.53
0.62
0.26
0,42
0.53
0,74
0.45
0.36
0.40
0.54
0.65
0.66
0.58
0.53
0.52
0.69

AVERAGE FOR PERIOD

Thfs series contains revisions beginning with 1959.

3.94
4.91
6.07
6.07
6.32
7.73
8.28
8.73
9.48
9.60
9.68
9.57
10.61
10.70
10.67
11.46
12.20
12.83
12.95
12.70
12.41
12.68
12.44
12.63
13.04
13.53
13.65
13.01
12.90
13.60
14.36
15.01
14.61
13.38
' 13.01

4.13
5.26
6.40
5.97
6.65
8.03
8.26
9.00
9.50
9.67
9.41
9.97
10.78
10.59
10.86
11.67
12.36
12.88
12.89
12.59
12.39
12.69
12.54
12.79
13.15
13.67
13.59
12.84
13.00
13.74
14.51
14.95
13,97
13.16
12.91

4.30
5.65
6, 36
5.99
7.00
8,23
8.23
9.21
9.49
9.82
9.32
10.25
10.91
10.54
11.04
11.85
12.51
12.91
12,83
12.56
12.47
12.73
12.53
12.94
13.05
13.69
13.46
12.79
13.10
13.89
14.58
15.00
13.60
13.09
12.85

4.01
5.10
6.13
6.08
6.51
7.84
8.26
8.84
9.46
9.66
9.56
9.81
10.67
10.68
10.78
11.56
12,27
12.82
12.91
12.66
12.42
12.68
12.56
12.76
13.00
13.56
13.62
13.02
12.93
13.64
14.40
14.95
14.27
13.26
12.97
(APRIL 1983)

97

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Mar.

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...

0.24
-0.15
0.20
0.33
0.36
0.13
0.29
0.48
0.12
0.39
-0.11
0.95
0,13
0.58
0.60
0.69
0.53
0.66
0.65
0.29
0.46
0.42
0.03
0.97
1.01
1.03
0.48
0.39
1.05
1.13
0.74
0.39
0.50
0.49
0.85

0.00
0.03
0.54
0.19
0.50
0.17
0.29
0.60
0,00
0.19
1.21
0.42
0.10
0.80
0.80
0.74
0.61
0.70
0.54
O.7!5
0.63
0.47
-0.2 ( J
1.40
1.19
0.55
O.6:L
0.90
1
1.30
i.o:>

o.so

0 . 5*3

0.98
Q.8!i
0.3:.

-0.39
0*00
0.29
0.33
0.27
Q.5<>
0.29

-0.12
0.20
0.38
0. 82
0.52
0.30
0.54
0.85
0.7«
0.53
C.6S
0.58
0.93
0. 51
0.44
0.37
1.49
1.13
0.20
0.7S
1.22
0.88
0.98
0.57
0.78
0.47
1.20
0.72

My
a

Apr.
102.

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

0.10
-0.15
0.24
0.42
0.44
0.21
0.53
0.00
0.00
0.26
0.65
0.41
0.89
0.61
0.57
0.68
0.80
0.65
0.36
0.89
0.71
0.10
0.85
0.82
1.21
0.30
0.36
0.90
1.31
0.85
0.77
0.92
1.32
1.23
1.21

--0.05
--0.05
0.05
0.70
0.61
0.13
0.16
0.28
0.43
0.08
0.29
0.10
0.52
0.61
0.57
0.63
0.82
0.83
0.61
0.74
0.76
0.36
0.89
0.98
1.18
0.13
0.47
0.89
1.05
0.79
0.94
0.70
0.89
0.59
0.70

-0.05
0.00
0.24
0.46
0.26
0.30
0.45
0.16
0.12
0.08
0.36
-0.07
0.32
0.49
0.65
0.60
0.53
0.71
0.06
0.68
0.72
0.22
0.77
0.78
1.01
0.36
0.44
0.51
1.24
0.66
0,56
0.25
0.63
0.69
0.66

-0.15
0.05
0.24
0.78
0.48
0.17
0.41
-0.08
0.27
0.11
0.53
0,17
0.45
0.66
0.73
0.80
0.72
0.66
0.32
0.58
0.86
0.67
0.88
1.02
1.01
0.81
0.69
1.11
1.22
0.77
0.66
0.18
0.74
0.95
0.79

-0.20
0.15
0.24
0.55
0.30
0.21
0.16
0.24
0.19
0.00
0.21
0.24
0.45
0.63
0.81
0.43
0.62
0.75
0.61
0.69
0.78
0.48
1.06
0.92
1.12
0.78
0.34
0.79
1.28
0.61
0.59
0.43
-0.02
0.80
0.75

-0.05
-0.05
0.34
0.28
0. 38
0.29
0.29
0.32
0.11
0.32
0.64
0.63
0.18
0.64
0.75
0.73
0.56
0.67
0.59
0.66
0.53
0.44
0.04
1.29
1.11
0.59
0.61
0.84
1.10
1.05
0.60
0.59
0.65
0.85
0.63

0.13
0.08
0.04
0,62
0.54
0.14
0.36
0.74
0.45
0.14
O.SO
0.15
0.55
0.45
0-60
0,79
0.91
0.72.
0.55
0,79
0.85
0.52
0.69
0.71
1.11
0.89
0.72
0.95
0. 60
0.92
0.96
1.12
0.74
0.94
0.60

0.04
0,21
0.28
0.62
0.54
0.10
0.49
0.55
0.27
0.03
0.52
0.00
0.27
0,57
0.35
0.42
0.60
0.66
0.18
0.63
0.83
0.28

0.04
0.17
0.24
0.69
0.61
0.13
0.42
0.40
0.38
0.06
0.79
0.13
0.22
0.71
0.96
0.91
0.60
0.68
0.46
0.68
0.81
0.94
0.62
0.86
1.37
0.81
0.56
1.28
1.05
1.16
1.29
0.15
1.04
1.02
0.60

0.08
0.29
0.40
0.69
0.50
0.30
0.32
0.43
0.41
0.34
0.54
-0.10
0.25
0.58
0.87
0.42
0.48
0.64
0.61
0.76
0.77
0.62
0.73
0.89
1.22
0.72
0,43
0.59
1.00
0.82
1.04
0.37
0.78
0.64

0.09
0.15
0.16
0.59
0.56
0.18
0.43
0.58

0.06
0.19
0.25
0.66
0.56
0.15
0.42
0.51
0.36
0.11
0.61
0.05
0.30
0.60
0.68
0.64
0.63
0.67
0.41
0.70
0.82
0.60
0.67
0.79
1.18
0.73
0.53
0,91
0.S9
1.01
1.00
0.48
0.81
0.91

II Q

CHANGE IN MONEY SUPPLY M2
(MONTHLY RATE, PERCENT)

-0.20
0.15
0.54
0.19
0.31
0.26
-0.04
0.28
0.27
0.15
0.7B
0.31
0.23
0.50
0.73
0,70
0.48
0.51
0.43
0.51
0.49
0.21
0.25
1.46
0.69
0.44
0.19
1.03
1.03
0.91
0.52
0.74
-0.53
0.87
0.34

-0,15
0.20
0.44
0.33
0.36
0.30
0.83
0.40
-0.04
0.30
0.62
0.76
0.30
0.75
0.55
0.75
0.65
0.39
0.19
1.04
0.62
0.16
0.51
1.22
0.65
0.87
0.27
1.39
1.30
0.87
0.69
0.63
0.76
0.43
0.84

0.00
-0.05
0,29
0.33
0.40
0.13
0.29
0.00
0.23
0.11
0.91
0.62
0.47
0.62
0.52

0.64
0.69
0.69
0.23
0,97
0.67
0.35
0.55
0.90
0.92
0.92
0.50
1.62
0.42
0.69
0.57
1.08
1.41
0.71
0.75

0.15
-0.10
0.24
0.51
0.31
0.26
0.49
0.28
0.12
0.30
0.40
0.41
0.60
0.40
0.46
0.69
0.76
0.61
-0.08
0.86
0.53
0.16
0.33
0.78
1.15
0.35
0.27
1.19
0.78

0.81
0.56
0.83
1.39
0.86
0.88

AVUKAOE POK

-0.12
flu 10
0*42
0.2fl
0. 36
0.23
0.36
0.23
0.15
0.19
0.77
0. 56
0.33
0.67
.6©
.7C
I .61
.53
C .2ft
.84
( .59
.24
< .44

1.19
0.75
0.74
0.32
1.35
0.92
0.82
0.59
0.82
0.55
0.67
0.64

104. CHANGE I N TOTAL LIQUID AS S E T S , MONTHLY DATA
(MONTHLY 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...
.1.980...
1981...
1982...

-0.13
0.16
0.08
0.95
0.46
0.23
0.45
0.39
0.47
0.08
0.84
0.31
0.57
0.67
0.60
0.48
0.59
0.67
0.44
0.64
0.40
0.08
0.88
0.93
1.05
0.82
0.55
0.74
0.85
0.99
0.68
0.69
1.07
0.85

0.04
0.13
0.4:.
0.00
o.5:>
0.64
0. 27
0.52
0.48
0.50
0.4:;
0.11.
0.23
0. 59
0.69
0.81
0.55
0.63
0.54
0.78
0.71
0.55
0.01
0.98
1.13
1.14
1.16
0.72:
0.97
1.05
0.90
0.91
1.15
l.OS
0.9C

-0.17
0.17
0.33
0.20
0.45
0.88
0.20
0.03
0.18
0.64
0.25
0.45
0.28
0.42
0.89
0,68
0.47
0.66
0,52
0.87
0.67
0.57
0.61
1,08
1.11
1.08
1.03
0.74
0.S8
0.95
O.*>9
1.16

0.70
0.66
0.92
104.

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..

0.02
0.22
0.27
0.72
0.54
0.20
0.40
0.43
0.39
0.15
0.67
0.06
0.30
0.64
0.77
0.59
0.56
0.66
0.46
0.69
0.73
0.58
0.71
0.86
1.20
0.74
0.50
0.86
0.96
0.99
1.01
0.38
0.89
0.85

0.01
0.25
0.20
0.75
0.53
0.24
0.41
0.42
0-44
0.22
0.61
0.13
0.41
0,65
0.78
0.54
0.56
0.64
0.56
0.70
0.62
0.39
0.80
0.94
1.18
0.84
0.54
0.82
0.97
0.95
0.94
0.57
0.96
0.82

0.04
0.29
0.13
0.68
0.60
0,25
0,38
0.39
0.50
0.26
0,,48
0.21
0,50
0,70
0,73
0.49
0.60
0,60
0.65
0.69
0.S4
0.24
0.92
1.02
1.11
0.95
0.62
0,82
0.96
0.93
0.90
0.79
0.95
0.84

0.00
0,25
0.57
0.28
0.19
0.80
0.03
0.61
0.00
0.29
0.20
0.35
0.15
0.51
0.73
0.53
0.47
0.58
0.64
0.33
0.54
0.38
0.56
0.77
0.79
0.76
0.77
0.52
0.89
0.85
0.91
0.94
0.25
0.46
0.65

-0.13
0.29
0.36
0.32
0.37
0.59
0.47
0.89
0.21
0.32
0.31
0.79
0.10
0.66
tl.52
0,73
0.70
0.54
0.35
0.67
0.67
0.08
0.39
0.67
0.75
1.01
0.78
0.98
0.94
1.01
1.12
1.08
0.72
1.00
1.00

0.08
0.17
0.36
0.51
0.59
0.45
0.13
0.57
0.21
0,26
0.39
0.71
0.46
0.53
0.63
0.54
0.75
0.79
0.30
0.74
0.80
0,34
0.53
0.88
1.03
1.14
0.90
1.08
0.68
0.98
0.86
1.53
0.75
1.19
1.08

0.17
0.17
0,28
0.51
0.55
0.68
0.30
0.72
0.03
0.43
0.11
0.63
0.48
0.48
0. 3ft
0.52
0. 50
0.73
0.07
0.64
0.84
-0.07
0.81
1.04
1.00
0.89
0.59
0.82
0.87
1.06
0.90
0.95
0.81
0.97
1.13

o.ov
-O.ld
0.1H
0.54
0.4!^
0.20
0.39
0.19
0.18
0.2)
0.45
0.31
0.67
0.54
0.53
0.6?
0.79
0.7C
0.30
0.83
0.67
0.21
0.69

o.fte.
1.18
0.26
0.37
0.99
l.OS
0.8?
0.76
0.84
1.20
0.89
0.93

Annual

IV Q
piiRjon
"0.13
0,07
0. 24
O.f;O
0.35
0.23
0.34
0.11
0.19
0.C6
0. 37
0.11
0,41
0. 59
0.73
0.6L
tl. 62
0. 71
0.33
0.65
0. 7**
(I, 46
0,90
0.91
1..05
(l.6!>
().<*')
0.80
1.2'i
((.68
0.60
O.in
C.4S

-0.06
0.00
0.30
0,43
0.38
0.24
0.35
0.21
0.16
0.20
0.56
0,40
0.40
0.60
0.65
0.68
0.64
0.65
0.3P
0.74
0.64
0.34
0,52
1.06
1.02
0.56
0.45
1.00
1.08
0.84
0.64
0.63
0.71
0.81
0.73

C'.Sfs

0. 71

AVERAGE FOR PERIOD

0.17
0.12
0.08
0.39
0.58
0.44
0.46
O.SO
0.30
0.34
0.64
0.54
0.45
0.45
0.62
0.86
0.52
0.64
0.27
0.P7
0.89
0.03
0.83
0.66
1.14
0.98
0.64
0.71
1.00
1.10
1.06
0.95
1.25
1.36
0.91

0.68

0.72
1.00
0.57
0.44
0.67
0.83
0.99
0.71
0.55
0.63
0.93
0.90

-0.02
0.24
0.43
0,. 37
0.3ft
0.61
0.21
C.6«»
0,14
0., 29
0,30
P. 62
15.24

0.06
0.30
0.09
0.64
0.66
0.23
0,33
0.35
0.54
0.25
0.47
0.27
0.53
0.75
0.70
0.50
0.63
0.58
0.70
0.67
0.51
0.23
0.98
1.06
1.09
1.00
0.67
0.86
0.95
0.96
0.92
0.8S
0.93
0.89

ۥ,57

0,, 63
0.60
0.64
0.64
0. 451
0.5R
0.6?
0.27
0.4f)
C.77
Q. 3f>

0.97
0.32
O.Sfi
Q.ai
C. 98
0,9G
1,1B
0.5?

o.an

0.91

0.16
0.12
0.13
0.51
0.56
0.42
0.37
0.65
0.26
0,30
0.42
0.44
0.49
0.46
0.53
0.72
0.64
0.70
0.30
0.77
0.86
0.16
0. 78
0.80
1.08
0.92
0.65
0.83
0.82
1.03
0.97
1.01
0,93
1.09
0.88

C.O.'i
C. TA
C. M
C.67
C.Vi
C. Hi
C.41
C.4«
CIS

e.,14
C.62

CO)
C.2rt
C.62
C.73

cut

C.ft*.
C.fid
0.42
C. tv'->
C.HO

0.61

o . <;a

0.R2
1. 2G
0.70
0 . 4PI
0 . HS
0 . flfc
0.09
1.01
0. 36
O.fl?
0 . R6

•

0.16
0.29
0.41
0.53
0.47
0.31
0.53
0.28
0.32
0.40
0.38
0.31
0,54
0.66
0.65
0.59
0.66
0.43
0,68
0.75
0,39
0.54
0.84
1.05
0.92
0.74
0.80
0.87
0.98
0.98
0.87
0.79
0.94

1

CHANGE IN TOTAL LIQUID ASSETS, SMOOTHED DATA
(MONTHLY *ATE, PE *CENT)

0.12
0.37
0.13
0.51
0.72
0.20
0.36
0.28
0.51
0.27
0.38
0.25
0.52
0.76
0.68
0.50
0.63
0.57
0.68
0.66
0.50
0.31
0.96
1.03
1.04
1.00
0.66
0.89
0.95
0.95
0.96
0.77
0.82
0.86

0.21
0.43
0.21
0.36
0.77
0.20
0.45
0.18
0.45
0.27
0.42
0.20
0.52
0.74
0.66
0.52
0.61
0.54
0.64
0.63
0.42
0.46
0.89
0.95
0.97
0.92
0.70
0.91
0,94
0.97
1.03
0.63
0.72
0.84

-0.06
0.24
0.42
0.32
0.36
0.68
0.22
0.60
0.14

0.38
0.41
0.44
0.59
0.26
0.71
0.15

0.28
0.57
0.21
0.55
0.67
0.62
0.59
0.62
0.47
0.60
0.65
0.30
0.51
0.81
0.87
0.96
0.84
0.80
0.87
0.94
0.99
1.12
0.57
0.80
0.88

0.28
0.66
0.29
0.56
0.57
0.60
0.64
0.66
0.34
0.63
0.72
0.19
0.54
0.82
0.89
0.99
0.79
0.91
0.83
0.98
0.96
1.18
0.67
0.97
0.99

0.35

0. 01
0.22

0.31

AVEKAGK FOR

0.09
0.18
0.29
0.46
0.54
0.55
0.30
0.66
0.16
0.34
0.32
0.67
0.40
0.52
0.53
0.62
0,62
0.70
0.23
0.72
0.81
0.11
0.65
0.86

0.15
0.14
0.19
0.49
0.56
0.47
0.34
0.62
0.22
0.32
0.40
0.53
0.48
0.47
0.54
0.68
0.62
0.71
0.26
0.76
D.85
0.13
0,75
0.83

1.01
0.73
0.91
0.84
1.03
0.95
1.17
0.85

0.96
0.68
0.85
0.84
1.04
0.96
1,08
Q.94

1.11
1.06

JL.13
0.96

0.99

1.07

0.14
0.13
0.13
0.52
0.56
0,32
0.40
0.63
0.30
0.24
0.49
0.34
0.46
0.48
0.53
0.71
0.66
0.68
0.32
0.77
0.86
0.22
0.76
0.75
1.08
0.87
0.62
0.80
0.82
1.02
0.94
0.94
0.90
1.08
0.84

0.35
0.12

0.58
0.16
0.38
0.53
0.58
0.70
0.69
0.68
0.36
0.73
0.84
0.43
0.70
0.73
1.12
0.78
0.59
0.87
0.82
1.01
0.95
0,74
0.84
1.02
0.75

NOTE: These series contain revisions beginning with 1959.
'This series is a weighted 4-tenn moving average (with weights 1,2,2,1) placed on the termfnai month of the span.




III Q

0.02
0.25
0.20
0.72
0.56
0.23
0.40
0.41
0.44
0.21
0.59
0.13
0.40
0,66
0.76
0.54
0.57
0.63
0.56
0.69
0.63
0.40
0.81
0.94
1.16
0.84
0.55
0.83
0.96
0.96
0.95
0.58
0.93
0.84

0.19
0.41
0.22
0.41
0.73
0.21
0.47
0.20
0.44
0,27
0.46
0.22
0.S3
0.7?
0.65
0. 54
O.fi2
0.53
C.S4

O.«>5

1

0.41
0.43
0.89
0.9S
0.99
0,92
0.72
0.1)9

0.94
0.97
1,04
0.C.6
0.78
0.86

0.08
0.18
0.29
0.45
0.51
0.54
0.30
0.66
0.18
0.32
0.33
0.62
0.39
0.52
0.55
0.63
0.63
0.69
0.28
0.70
0.79
0.14
0.6!)
0.84
0.98
0.99
0.73
0.89
0.84
1.02
0.96
1.14
0.82
1.07
1.00

>ERIQD
0 . JO
0.16
0 . 1 fi
o . r>i
O.fib

0.2?.
0.4?
0.5?

0.34
0.16
0.S6
0.1H
o. an
0.54
0 . 6*,)
0.6H
0 . 6«>

o.3«;
o. ?:*
0 . >M
0 . 42

o. n

0. Hi
i . in
0 . 79
O.:»R
0 . S56
O.«4
,1.01.
O.'Hi
0 * 72
0, (J5
1.00

0.14
0.28
0.37
0.55
0.51
0.29
0.53
0.28
0.34
0.34
0.46
0.28
0.50
0.63
0.68
0.59
0.64
0.45
0.66
0.74
0.40
0.55
0.82
1.00
0.98
0.77
0,76
0.85
0.98
0.96
0.96
0.73
0.95
(APRIL 1983)

C.

Historical Data for Selected Series—Continued
Year

Jan.

Mar.

Feb.

Apr.
105.

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. .

196.9
190.5
195.0
189.1
191.3
196.7
196.9
204.5
207.7
203.5
194.5
201.6
200.8
199.4
204.2
205.7
209.9
217.1
224.1
220.4
228.3
235.5
229.6
228.6
236.2
249.0
238.9
221.8
219.2
223.0
226.4
221,9
209.7
199.9
198.1

196.8
191.2
195.3
186.3
192.3
196.9
196.7
205.3
207.4
202.4
195.2
202.4
200.3
200.1
204.2
206.3
210.9
217.3
223.3
221.5
228.1
235,2
226.7
229.8
237.1
247.9
237,1
221.2
220.4
222.7
225.6
220.6
209.6
199.9
198.1

197.1
191.3
195.7
186.8
193.0
197.6
197.2
205.0
207.5
202.1
194.3
203.1
200.3
200.6
204.1
206.5
210.9
217.9
223.9
223.7
228.4
234.3
227.3
231.4
239.1
245.6
236.1
222.0
220.9
223.1
224.9
220.1
206.2
200.5
198.4

My
a

361.4
352.7
361.6
347.5
350.9
364.1
370.8
389.9
397,3
393.7
387.4
413,1
424.7
440.4
470.1
501.8
534.4
571.8
606.3
611.4
647.0
667.9
651.8
665.3
730.4
796.5
773.9
729.3
774.2
838.2
864.6
850.7
806.2
785.9
800.9

361.7
354.0
362.0
341.9
353.0
365.2
371.3
391.5
396.7
392.7
391.4
415.1
424.4
443.6
472.5
504.9
538.2
575.7
605.6
614.7
648.5
668.0
646. S
673.5
736.2
795.9
769.3
732.1
784.0
839.1
864.8
847.1
805.1
786.5
802.8

362.8
354.2
362.6
342.5
354.6
366.7
373.0
391.2
397.2
393.3
392.0
417.4
425.8
446.2
475.5
508.2
540.5
579.0
607.6
620.4
649.9
665.9
646.1
682.5
743.8
790.7
767.4
738.2
789.4
843.0
863.8
845.6
797.2
789.7
808.9

192.0
191,7
196.8
18*,0
19&4
197:. 8
198.0
20&. 7
206;5
201.2
195..4
204.0
199.0
201.7
205., 0
208.1
211.9
217.0
223.7
224.0
230.2
233.3
227.0
233.3
239^9
245.5
233.1
222.3
222.5
222.8
225.8
216.7
199.3
20(>.4
197.6

193.9
191.3
196.8
187.0
192.8
197.7
196.8
205.4
207.7
201.5
194.7
202.9
199.0
201.0
204.5
207.5
211.2
218.1
224.8
222.5
229.2
233,9
227.6
232.3
240.1
244,7
234.9
220.6
221.7
223,2
225,3
220.3
200.3
202.1
198.2
106.

1948....
1949,, . .
1950,,..
1951,..
1952...
1953,..
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
19631..
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976. . .
1977...
197&...
197«<. . .
1980..,
1981...
1981!...

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

II Q

189.4
191.9
194.8
190.4
195.2
196.6
200.8
206.8
204.9
198.7
198.3
203.0
201.0
202.4
203.1
208.9
215.7
220.2
222.0
226.8
232.0
230.1
228.1
234.7
244.1
241.6
226.7
221.5
220.5
224.1
224.9
216.8
205.2
194.7
198.2

189.6
192.7
194.2
190.2
195.3
196.3
202.4
207.2
203.8
198.3
199.2
201.6
199.7
203.0
203.9
209.6
216.2
221.6
220.1
227.8
232.5
230.2
227.7
234.8
245.2
240.4
225.5
219.5
221.5
224.9
223.5
214.8
204.7
193.9
199.7

190.2
192.6
193.6
190.6
196.0
197.0
203.0
206.4
204,1
197.3
200.1
201.5
199.2
203.8
204.6
210.7
216.5
222.0
220.2
227.6
233.8
229.6
227.8
234.8
245.6
240.3
224.8
220.3
221.4
224.8
223.1
212.4
203.3
194.2
201.9

190.7
193.7
191.2
190.6
196.1
197.0
203.4
207.0
203.7
196.3
200.3
200.6
198.9
204.2
205.4
209.6
216.6
222.6
220.8
228.0
234.6
228.4
227.8
234.6
247.7
240.3
223,5
218.9
222.5
225.3
223.6
211.3
200.1
195.5
204.3

196.9
191.0
195.3
187.4
192.2
197.1
196.9
204.9
207.5
202.7
194.7
202.4
200.5
200.0
204.2
206.2
210.6
217.4
223.8
221.9
22S.3
235.0
227.9
229.9
237.5
247.5
237.4
221.7
220.2
222.9
225.6
220.9
208.5
200.1
198.2

192.2
191.4
196.7
187.4
193.3
197,6
197.7
206.3
206.7
201.0
195.6
203.7
198.9
201.6
204.8
207.7
211.7
217.3
224.1
223.8
230.1
233.2
227.0
233,1"
240.1
245.4
233,4
222.3
221.9
222.9
225.5
219,4
199.8
200.5
197.2

349.4
356.4
358.6
349.2
359.8
367.9
383.4
395.4
394.6
391.6
406.0
424.4
435.7
459.8
488.0
525.7
561.0
594.6
607.6
639.8
659.5
656.0
651.JB
711.3
775.5
782.2
740.6
765.4
814.3
859.8
858.2
833.9
801.7
786.7
820.1

350.0
357.9
357.2
348.7
360.1
368.2
386.3
396.1
392.7
392.0
407.6
422.9
435.2
462.1
491.8
528.4
563.2
598.2
605.6
642.8
661.1
655.1
653.5
715.6
780.9
778.0
736.9
764.2
820.5
861.7
855.3
827.0
798.2
789.3
822.1

351.6
357.4
356.3
349.6
361.9
370.0
387.2
395.2
393.5
391.0
409.2
423.3
436.5
465.0
495.1
531.8
565.9
600.6
607.3
644.0
664.3
655.9
657.0
721.2
785.7
778.1
735.3
767.5
827.2
862.8
854.6
819.1
795.9
793.1
828.6

352.8
359.4
351.8
349.5
362.7
370.6
388.0
396.4
392.6
390.3
409.9
423.7
438.0
467.5
499.4
532.6
568.5
602.9
610.3
646.5
666.9
655.0
660.6
724.9
792.0
778.6
731.7
769.4
834.0
863.8
854.9
813.3
787.8
796.4
837.1

362.0
353.6
362.1
344.0
352.8
365.3
371.7
390.9
397.1
393.2
390.3
415.2
425,0
443.4
472.7
505.0
537.7
575.5
606.5
615.5
648.5
667.3
648.1
673.8
736.8
794.4
770.2
733.2
782.5
840.1
864.4
847.8
802.8
787.4
804.2

354.2
354.9
364.0
343.4
355.5
367.3
375.6
393.8
396.3
392,5
397.2
420.7
426.0
451.7
480.9
515.0
545.9
581.3
608.2
626.9
653.0
663.0
645.1
694.7
751.5
791.0
760.0
750.7
800.2
847.9
859.9
841.0
785.6
790.8
807.8

] .053'
.028
L.113
]L.189
L.218
]L.220
] .184
]L.245
]L.3O9
] .337
L.303
]L.300
L.312
JL.278
L.263
]L.221
L.217
L.240
L.260
L.240
L.274
JL.322
L.349
L.267
L.235
L.289
1.333
L.297
L.261
L.250
L.304
L,345
L.374
1.415
1.355

1.058
1.010
1.125
1.197
1.219
L.225
.186
L.250
L.321
L.336
L.301
L.303
L.312
L.283
L.258
L.222
:L.212
L.225
L.266
!L.235
L.274
:L.325
L.336
L.262
L.246
L.296
L.339
L.302
L.254
L.256
L.313
L.355
L.382
1.410
1.352

JL.053
L.022
L.133
]L.192
L.211
]L.215
JL.192
]L.260
]L.317
L.335
L.310
3L.315
L.3O5
L.286
L.255
L.215
]L.212
L.228
L.271
L.240
L.273
L.321
L.328
L.258
L.251
L.299
L.330
L.296
L.254
L.258
L.318
L.364
L.386
1.403
1.351

1.042
1.026
1.156
1.190
1.216
1.209
1.194
1.265
1.322
1.332
1.313
1.330
1.291
1.286
1.251
1,222
1.218
1.229
1.267
1.245
1.271
1,325
1.324
1.263
1.247
1,296
1.332
1.292
1.248
1.263
1.328
1.370
1.400
1.391
1.345

0.989
1.026
1.078
1.167
1.184
1.224
1.201
1.198
1.272
1.324
1.321
1.306
1.331
1.291
1.277
1.242
1.222
1.215
1.230
1.268
1.252
1.276
1.336
1.314
1.263
1.253
1.291
1.318
1.289
1.243
1.263
1.334
1.376
1.409
1.381

1.021
1.016
1,066
1.191
1.189
1.230
1.186
1.218
1.288
1.331
1,295
1.316
1.337
1.286
1.272
1.229
1.224
1.219
1.236
1.253
1,266
1.295
1.361
1.291
1.251
1.264
1.311
1.306
1.273
1.240
1.285
1.336
1.375
1.404
1,380

M N Y SUPPLY Ml IN 1972 DOLLARS
OE
(BILLIONS OF DOLLARS)
190.6
191.3
196.5
188.1
193.8
197.3
198.3
206.8
206.0
200.3
196.8
204.1
198.8
202.0
204.9
207.6
212.0
216.9
223,8
224.8
230.8
232.5
226.5
233.7
240.2
246.1
232.2
223.9
221.5
222.6
225.4
219.2
199.9
198.9
195.9

189.0
192.9
196.0
189.1
193.2
197.4
199.4
207.1
204.9
199.8
197.0
204,8
200.0
201.5
204,7
208.2
213,6
218.1
221.8
225,5
231.0
231.9
226.2
234.0
241,3
246.3
230.9
222.0
220.8
223.2
224.9
219,0
202.3
197.6
195.2

189.0
192.6
195.5
190.2
, 193.8
197.1
200.1
207.4
204.4
199.3
197,8
204.8
201.2
202.3
204.3
208.5
214.9
219.1
221.0
226.6
231.7
230.8
227.5
234.4
243.0
242.2
228.8
222.3
221.3
223.5
224.6
218.0
204.4
196.8
196.3

353.8
355.3
364.1
342,-8
355.6
367;. 7
37$.9
394.2
395.9
393.0
39S.7
421.1
425.7
4S1.8
480.6
515.6
545.9
581.0
608.0
627.5
653.3
663.4
644.a
695.6
750.8
790.7
758.9
751.0
802.7
848.6
860.2
839.5
784.0
78&.8
808.2

351.6
355.0
363.5
344.7
356.4
367.2
377.0
394.9
395.2
391.9
400.6
422.4
427.4
454.6
483.9
517.3
549.1
582.7
608.5
631.0
654.5
661.5
646.1
698.4
755.9
793.7
756.4
758.0
802.3
850.2
858.0
839.8
787.0
789.3
805.6

348.5
357.9
361.7
346 .'8
355.5
368.2
379.8
395.5
393.6
391.9
402.5
423.8
430.5
455.0
485.6
519.4
553.1
586.4
606.8
634.5
654.8
659.5
646.1
701.5
762.2
795.3
752.8
759.4
803.8
852.8
856.2
837.5
797.3
787.1
807.9

348.5
357.4
360.4
348.9
357.0
368.0
382.0
396.0
393.4
391.7
404.7
425.2
433.7
457.6
487.5
522.1
557.4
590.9
605.4
637.6
657.0
6S7.2
649.3
705.6
769.6
783.5
746.5
763.8
810.5
856.8
857.6
836.4
802.0
790.1
815.2

0.983
1.027
1.065
1.157
1.177
1.218
1.203
1.194
1.266
1.317
1.334
1.304
1.333
1.294
1.278
1.254
1.223
1.220
1.226
1.274
1.245
1.271
1.327
1.326
1.264
1.243
1.292
1.325
1.295
1.241
1.257
1.330
1.380
1.409
1.381

0.981
1.023
1.074
1.168
1.188
1.224
1.204
1.194
1.273
1.327
1.316
1.306
1.332
1.291
1.277
1.239
1.221
1.213
1.231
1.266
1.251
1.276
1.339
1.312
1.265
1.254
1.292
1.319
1.289
1.243
1.261
1.334
1.372
1.410
1.384

1.002
1.028
1.096
1.176
1.188
1.229
1.196
1.205
1.276
1.327
1.313
1.309
1.329
1.288
1.277
1.234
1.221 .
1.211
1.232
1.263
1.259
1.282
1.343
1.303
1.259
1.263
1.290
1.309
1.283
1.244
1.270
1.339
1.375
1.407
1.377

1.009
1.022
1.067
1.187
1.182
1.227
1.191
1.213
1.285
1.327
1.299
1.317
1.338
1.284
1.275
1.230
1.224
1.214
1.232
1.259
1.262
1.289
1.372
1.290
1.258
1.266
1.300
1.305
1.279
1. 241
1.281
1.336
1.381
1.402
1.382

1.017
1.018
1.065
1.190
1.191
1.229
1.185
1.219
1.287
1.^29
1.295.
1.316
1.339
1.284
1.271
1.228
1.225
1.221
1.235
1.252
1.267
1.296
1.358
1.282
1.258
1.264
1.313
1.302
1.271
1.239
1.283
1.337
1.^377
1,405
1.381

NOTE: These series contain revisions beginning with 1959.




1.038
1.008
1.067
1.195
1.193
1.233
1.182
1.223
1.292
1.338
1.290
1.316
1.334
1.289
1.269
1.229
1.223
1.222
1.242
1.248
1.269
1.300
1.352
1.300
1.236
1.263.
1.320
1.312
1.270
1.241
1.290
1.334
1.368
1.406
1.376

1.040 • 1 . 0 5 1
1.0121.002
1.085
1.104
1.195
1.186
1.213
1.185
1.222
1.227
1.179
1.179
1.240
1.238
1.305
1.287
1.342
1.340
1.300
1.309
1.298
1.313
1.317
1.327
1.282
1.289
1.264
1.268
1.221
1.224
1.220
1.220
1.221
1.217
1.257
1.251
1.245
1.247
1.275
1.274
1.319
1.310
1.352
1.356
1.275
1.276
1.244
1.243
1.277
1.270
1.331
1.331
1.294
1.299
1.273
1.266
1.247
1.248
1.304
1.302
1.346
1.346
1.369
1.374
1.412
1.416
1,362
1.376

189.1
192.5
195.4
189.9
194.1
197.0
200.1
207.1
204.7
199.3
197.7
204.2
200.7
202.1
204.0
208.5
214.7
219.1
221.6
226.3
231.6
230.9
227.3
234.4
242.8
243.4
228.8
221.9
220.9
223.6
224.8
217.9
204.0
196.4
196.6

190.2
193.0
193.0
190.5
195.8
196,8
202.9
206.9
203.9
197.3
199.9
201.2
199.3
203.7
204.6
210.0
216.4
222.1
220.4
227,8
233.6
229.4
227.8
234.7
246.2
240.3
224.6
219.6
221.8
225.0
223.4
212.8
202.7
194.5
202.0

192.1
192,0
195.1
188,8
193.8
197.1
199.4
206.3
205.7
200.1
197.0
202.9
199.8
201.8
204.4
208.1
213.4
219.0
222.5
224,9
230.9
232,1
227.5
233.0
241.6
244.2
231.0
221.4
221.2
223.6
224.8
217.8
203.8
197.9
198,5

AVERAGE FOR PERIOD

OE
108. 1WTIO, PERSONAL INCOME TO M N Y SUPPLY M2
( , (RATIO)
194fi...
1949..
1950..
195!L.
1952..
195:1..
1954,.
19515,.
195(5..
1957..
1953..
1959..
1960..
1961..
1962..
1963..
1964..
1965..
1966..
1967..
1968..
1969..
1970..
1971..
1972..
1973..
1974..
1975..
1976..
1977..
1978..
1979..
I960..
1981..
19EI2..

Annual

AVERAGE FOR PERIOD

M N Y SUPPLY M 11d 1972 DOLLARS
OE
2
(BILLIONS OF DOLLARS)

357.2
354.4
364.3
342.8
354.5
367.1
373.8
392.3
397.7
392.6
394.4
418.6
424.8
448.8
478.3
512.2
542.8
580.3
608.0
622.3
651.2
664.2
644.3
690.1
747.8
788.7
764.7
743.0
795.7
845.0
861.5
843.7
785.7
793,2
809.7

IV Q

III Q

348.8
357.2
360.2
348.3
357.4
368.0
381. 1
395.( i
)
393. <
391.' ?
404.' I
424. j
433. 3
457. >
487.0
522.4
557.2
590.6
606.6
637.3
657.1
657,6
649.1
706.1
769.1
787.0
746.6
762.9
809.5
856.5
857.3
835.9
800.3
788.0
814.4

351.5
358.2'
355.1
349.3
361.6
369.6
387.2
395.9
392.9
391.1
408.9
423.3
436.6
464.9
495.4
530.9
565.9
600.6
607.7
644.4
664.1
655.3
657.0
720.6
786.2
778.2
734.6
767.0
827.2
862.8
854.9
819.8
794.0
792.9
829.3

354.1
356.0
360.3
346.2
356.8
367.6
379.0
394.0
395.0
392.1
400.2
420.9
430.2
454.4
484.0
518.3
551.7
587.0
607.2
631.0
655.7
660.8
649.8
698.8
760.9
787.7
752.9
753.4
804.9
851.8
859.1
836.1
795.7
789.8
813.9

AVERAGE FOR PERIOD
1.048
1.014
1.101
1.190
1,205
1.223
1.181
1.241
1.300
1.340
1.304
1.304
1.319
1.283
1.265
1.222
1.219
1.226
1.256
1,244
1,274
1.317
1.352
1.273
1.241
1.279
1.332
1.297
1.267
1.248
1.303
1.346
1.372
1.414
1.364

.

1.051
1.019
1.138
1.193
1,215
1.216
1.191
1.258
1.320
1.334
1.308
1,316
1.303
1.285
1.255
1.220
1.214
1.227
1.268
1.240
1.273
1.324
1.329
1.261
1.248
1.297
1.334
1.297
1.252
1.259
1.320
1.363
1.389
1.401
1.349

1.027
1.019
1.096
1.185
1.198
1.223
1.190
1.229
1.295
1.332
1.307
1.311
1.322
1.286
1.267
1.228
1.220
1.222
1.248
1.251
1.266
1.303
1.345
1.284
1.250
1.273
1.317
1.304
1.270
1.248
1.293
1.345
1.378
1.407
1.368
(APRIL 1983)

99

C. Historical Data for Selected Series—Continued
Year

Jan.

Mar.

Feb.

113
3.19
1.12
3.43
2.64
1.13
5.30
-0.73
3.68
3.41
1.65

1948...

0.23
4.79
5.30
3.13
1.82
6.04
8. 71
6.78
7.85
4.13
-0.11
10.50
7.10

1955..,
1956...
1957..,
1958..1959..„
1960..U
1961...
1962...
1963..,
1964.• .
•
1965,.,
1966...
1967...
1968...
1969...
1970,..
1971...

1972...
1973...
1974...
1975...
1976...

1977.,,
1978...
1979...
1980...

1981,,.
1982...

8.50
-1.43
24.11
14.24
13.30
-15.29
34.99
41.21
57,82
-22.03
35.65

21.42

525.

4.52

3.22

1.76
3,06
0.18
1.48
7.02
-0.92
6.97

2.10
1.79
3.77
1. 56
1.12
5.05
0.14
4.49
3.67
2.87
-1.04
4.37
4.70
0.72
5.00
7.45
2. 58
10.50
8.72
5.09
1.56
17.53
5.94

33.73
5.23
44.77
13.78
5.33
17.99
41.34
37.12
51.76
40.49
19.54

1949...
1950...
1951..,
1952...
1953...
1954..»

My
a

Apr.

2.44
2.71
-1.22
2.11
4.50
-0.01
6.13
3.00
1.75
-1.67
5.10
6.28
-2.15
6.02
7.31
6. 38
11.00
4.19
-0.02
8.39
11.10
-0.50
' 6.95
16,78
18.98
11.81
-2.64
22.98
37,40
40.66
45.46
-24.04
25.55
19.62

4.79
2.15
-2.00
4.70
3.84
-.1.85
2.12
4.30
13.80
!i,75
4.91
0.47
IV. 12
!».48
0.56
!i.72
26.315

19.40
3.23
-15.86
46.89
34.37
40. 73
29.26
5€i.9!>
23.12
2.62

8.65

June

July

Aug.

Oct.

Nov.

Dec.

IQ

0.56
3.85
1.69
1.10
.7.02
2.72
1.40
3.50
2.40
2.12
-0.64
6.85
2.04
2.22
5.17
8.06
6.97
5.93
3.82
2.11
10.88
7.90
1.63
11.15
14.51
20.10
3.07
14.46
25.34
34.13
34,30
36.17
12.92
9.41
4.96

Sept.

1.12
3.71
-0.41
1.92
4.74
2.29
1.46
3.85
3,50
1,61
1.51
5.08
2.77
3.18
6,78
6.42
4, 84
7.32
5.06
6.78
10.10
8.40
-2.28
15.10
16.15
18.43
-1.50
13.25
18.42
40.45
44.10
36.37
14.11
-4.36
15.65

1.33
3.14
0.25
1.79
6.34
0.29
2.96
4.30
2.17
1.32
3.59
3.60
1.30
3.83
6.16
6.54
8. 50
7.22
5.66
7.76
11.08
3.66
7.64
15.49
18.68
10.72
-2.08
16.31
31.15
35.69
47.17
18.17
5.86
-2.76
29.03

3.27
1.56
3.42
1.46
1.24
5.79
-0.50
5.05
3.96
2.29
-0.94
4.62
5.61
0.67
2.98
5.93

NET CHANGE IN CONSUMER INSTALLMENT CREDIT1
(ANNUAL RATE, BILLIONS OF DOLLARS)
2.52
3.12
3.80
-0.53
6.56
4.68
-0.22
6.36
2.88
3.17
-1.01
5.83
4.12
-0.64
5.41
6.10
8, 64
9.37
4.07
0.80
6,33
11.40
2.93
7.50
16.16
24.38
16.58
-1.60
18.59
36.28
54.22
37.82
-40.40
24.02
18.10

2.17
2.92
5.09
-0.34
7.56
3.25
0.54
6.77
1.86
2.06
-1.58
6.23
4.37
0.48
5.40
6.67
7.49
7.48
4.42
4.00
6.62
9.97
7.55
8.64
19.86
21.19
14.14
3.94
21.48
33.08
55.21
28.32
-35.39
12.78
20.90

2.46
2.38
6.38
-1.62
4.86
4.16
0.80
5.03
1.54
3.29
-0.08
6.84
3.24
0.50
5.28
7.33
7. 63
8.39
6.32
2.64
8.74
8.74
10.00
11.35
12.43
23.18
13.96
17.21
20.69
33.00
39.94
34.97
-7.90
19.28
4.70

2.89
3.05

4.19
1.26
3.54
3.01
0.49
6.55
3.02
2.34
-0.46
7.64
2.70
1.48
5.21
7,14
6. 96
7.97
5.05

4.67

7.34
6.89
6.42
12.62
18.16
17.98
14.60
12.34
21.86
35.10
39.60
35.16
14.12
21.67
0.80

1.57
4.67
2.70
1.27

6.43
1.97
2.32
1.04
7.19
3.31
2.33
4,86
6.82
0. 92
7.97
4.10
5.03
7.90
9.66
7.30
,1,3.60
14.81
16.57
9.68
10.19
23.95
35.02
38.71
41.36
-2.44
33.73
HO. 04

DEFENSE DEPARTMENT PRIME CONTRACT AWARDS FOR tfORK PERFORMED IN THE

8.34
7.16
3.23
6.19
11.17
4.53
;i5.98
10.05
29.43
10.42
0.92
17.20
36.90
39.69
46.29
25.14
26.10
10.90

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..

3,976
2,526
3,682
616
1,049

1,474

3,49!)

3,001
2,959
2,381

5,47!)
2, 29!>

564

826
1,028
1,502
1,563
2,243
1,966
1,904
1,987
2,552

1, 30fi
!,38t)

1,756
2,103
1,625
1,850
1,989
3,271
2,429
2,372
2,097
2,952
3,364
2,887
3,398

1,927
1,231!
1.89(1
1,754
2,18(1

2,855
2,506

2,622
2,704

3,520
2,824
3,218

2,982
2,899
3,144

3,731
3,536
3,354
4,853
5,771

4,061
3,101
4,369
4,741
4,554
6,839

5,491
7,155

9,756

2,160
2,611

2,463
1,966
2,451
2,956
3,034
3,124
2,904
2,904
3,104
3,025
2,947
2,990
3,168
6,713
4,1319
4, <J09
5,!)03
S,887
7,!) 9 0
9,1*70

2,958
1,840
2,906
3,930
3,445
3,441

7,514
13,761
543.

2,892
2,088
2,462
1,068
1,468
1,404
2,312
2,142
2,204
1,726
2,274
2,295
2,023
2,502
2,843
3,461
3,026
3,488
2,825
2,591
2,928
2,985
2,568
4,372
4,023
3,489
4,303
4,970
4,688
6,944
8,505
10,518

3,760
3,059
2,038
1,326
841
1,782
808
3,043
1,893
2,252
1,855
2,140
2,413
2,640
2,150
2,978
4,040
4,203
3,070
2,545
2,231
2,786
3,171
3,211
3,814
3,543
4,654
6,204
4,825
6,901
7,967
9,657

2,759
4,292
2,042
1,116
1,287
2,024
1,093
2,228
2,222
1,963
2,229
2,127
2,366
1,910
2,390
3,693
3,566
3,067
2,744
2,896
2,324
3,154
2,897
3,402
3,680
3,854
4,300
7,081
4,144
6,450
7,041
14,296

£.64
£.83
3.87
- 0.70
!s.42
4.14
0.10
6.42
2. S8
2.33
-1.42
S.72
4.92
-0,77
5.61
6.69
9,28
4.23
1.59
fl.45
10.82
3.33
7,70
17.60
21,52
14.18
-0.10
21.02
35,59

so. o:\

37 ,,21
-33.28
20.79

19.54

1.00
3,57
0.51

2.60
2.73
5.0ft
0.40
4.36
3.29
0.85
6.00
2.18
2.65
0.16
7.22
3.03
1.44
5.12
7.10

1.60
6.03
1.77
1.94

3.BB
2,69
1*75
1.49
5.18
2.04
3.06
6-04
7.01

6.R2
4.85

8.11
5.16
4.1t
7.99
8,4}
7.91
12.152
15.13
19.24
12.7'S
13.2r>
22.17
34.37
39.42
37.16
1.2f»
24. 8<*
5.1H

5.55
10.69
6.65
2.33
13.91
16. 51
16.42
-0.17
14.67
24,97
36.82
41. R6
30.24
10.96
0.76
16.55

2.36
2.67

3,22
0.69
4.26
3.75
0.60
5.34
2.85
2.25
-0.18
5.68
3.91
1.10
4.94
6.66
fl!l4
5.35
3.62
6.33
9.27
4.52
12.53
14.82
21.65
9.29
7.19
21.34

35.92
42.75
37.72
1.02
16.14
13.04

UNITED STATES2
TOTAL FOR PERIOD

(MILLIONS DF DOLLARS)

1951..
1952..

Annual

AVERAGE FOR PERIOD

2.44
2.75

4.67

IV Q

III Q

II Q

4,097
1,158
2,035
886
971
1,196
1,619
1,511
2,192
2,151
1,993
1.R88
2,216
2,560
2,313
3,940
3,545
3,937
2,896
2,717
2,916
3,074
2,024
3,295
3,635
2,535
4,624
3,928
5,650
6,211
6,845
8,610

4,241
1,002
1,089
767
1,231
2,108
1,310
1,692
1,964
2,200
2,143
2,167
2,722
1,963
2,775
3,165
3,690
3,173
3,001

2,782
3,093
2,638
2,962
3,553
4,419
3,652
4,623
4,924
4,947
7,188
9,504
8,928

2,823
2,143
959
2,271
1,136
1,972
1,594
1,880
1,937
1,327
2,494
2,814
2,119
1,967
2,790
3,383
3,626
3,903
2,987
3,464
2,606
2,946
2,992
3,863
2,866
4,897
5,279
4,343
5,619
5,639
4,466
5,423

2,333
2,116
1,004
2,454
597
2,091
1,297
2,308
1,793
2,250
2,033
2,032
2,63S
2,163
2,419
3,541
3,720
3,836
2,680
2,113
2,982
2,725
3,235
3,504
3,102
4,985
4,255
4,855
6,232
6,893
9,325
10,296

3,462
3,295
265
481
1,310
1,934
1,819
1,704
2,102
1,938
2,308
2,946
1,814
2,075
2,995
3,225
3,308
3,378
2,734
2,746
3,092
3,589
3,347
3,667
3,062
4,114
4,247
6,509
6,029
6,773
9,817
10,209

3,399
3,148
390
913
2,194
1,891
1,671
2,328
1,298
1,922
2,491
2,044
2,149
1,997
2,988
3,513
3,479
3,613
2,765
3,181
3,066
2,532
3,292
3,051
3,413
4,729
5,332
4,568
5,825
9,835
9,049
17,298

10,470
10,966
0, 358
2,006
3,383
4,364
5,246
5,578
5,489
5,506
6,162
8,003
7,503
7,296
6,394
8,814
10,326
9,456
9,743
8,382
6,316
9,527
8,670
9,352
10,960
13,350
12,542
14,503
16,228
18,217
22,259
33,387

9,411
9,439
6,542
3,510
3, 396
5,210
4,213
7,413
6.319
5,941
6,358
6,562
6,802
7, 052
7,383
10,132
10,632
10,758
8,639

8,032
7,483
8,925
8,636
10,935
11,517
10,(386
13,257
18,255
13,fi!57
20,295
23,5:13
34,471

DEFENSE DEPARTMENT GROSS UNPAID OBLIGATIONS OUTSTANDING 2
(MILLIONS OF DOLLARS)

10,671
4,276
4,128
4,107
2,799
5,395
4,226
5,51]
5,949
6,601
6,169
6,087
7,573
6,706
7,507
10,646
10,955
10,946
8,577
7,612
6,991
8,437
8, 221
10,352
11,156
11,172
13,502
13,707
16,829
20,292
27,674
27,834

9, fi84
6> S 8 6
1, t 1 4
»

3, 665
4,640
5,797
5,084
5,912
5,337
5,1B7
7,293
7,604
6,082
6,039
8.773
10,121
10,413
10,894
8,486
9, 391
6,764
9,067
9,631
10,581

9,341
13,740
14, 8Sfl
15,420
17,473
22,247
23,332
32,930

40,236
33,267
20,642
13,286
14,418
20,766
18,769
24,414
23,094
23,237
25,982
28,456
27,960

27,093
30,057
39,713
42,328
42,054
35,445
33,417
33,554
35,956
35,158
41,270
42,974
49,148
54,159
61,885
64,187
81,051
96,778
129,622

END OF PERIOD

1948...

1951...
1952...
1954...
1955..
1956.,
1957..
1958..
1959..
I960..
1961..
1962..
1963..
1964..
1965..
1966..
1967..
1966..
1969..
1970..
1971..

1972..
1973..
1974..
1975..
1976..
1977..
1978..
1979..
1980..
1981..
1982..

38,361
32,254
23,715
26,293
22,051
23,663
21,509
22,795
24,633
24,531

38,587
31,293
23,665
26,581
21,957
23,641
21,314
23,041
24,506
24,304

23,003
23,434
27,275

23,777

35,350
36,616
39,531
32,561
30,181
32,879
34,280
37,446
40,052
41,358
49,258

57,304
66,702
71,178
82,087
98,818

23,466
27,621
35,719
37,236
39,147
32,041
30,851
32.832
34,426
37.673
39,875
41,459
50,229
58,401
49,455
71,665
83,608
102,677

51,118
34,907 34,769 33,567
30,030
29,435 28,405 26,919
24,536 24,475 25,440
24,526
25,857 25,287 24,762
20,129
22,369
22,768 23,330 24,666
23,662
23,532 23,656 24,007
21,203 j 21,042 21,148 22,955
22, 931
22,718 22,539 22,707
24,659
24,939 24,515 24,242
24,036
23,602 23,126 22,824
23,557 23,914 23,043
23,595
23,698
23,762 24,261 24,651
28,355
29,597 30,322 32,030
35,668
35,296
36,683 37,417
37,490
36,914 37,622 38,421
38,472
37,656 36,855 35,445
31,494
30,979 30,279 30,787
30,541
30,737 31,098 29,077
32,976 32,772 32,417
32,742
34,976
35,140 35,693 35,877
37,817
38,456 38,389 38,909
40,198
39,918 40,086 40,959
41,866
42,494 42,970 43,612
50,761
51,236 52,170 52,625
58,986
59,348 60,723 60,549
67,663
69,360 67,783 67,996
73,912 74,252 74,592
73,179
84,883
84,994 85,165 86,126
105,418 108,428 108,841 L09.654
3!>,«I74

This series contains revisions beginning with 1948.
for the convenience of the user.

100



. .
...

33,109
36,186
39,741
41,437
43,251
53,363
61,833
66,662
74,870
87,968
110,885

49,349
33,287
24,076

47C419
33,442
23f911
26P463

23,910
22,846
23,225
23,210
24,463

23,555
22,556
23,257
23,945
24,179

• *.

50,051
33,695
25,793

23,365

34,154
36,249 36,625
39,104 39,960
34,414 33,613
30,221 29,938
31,069 30,671
33,350 33,985
36,666 36,285
39,621 39,894
42,140 41,805
42,558 43,663
54,262 52,697
62,028 62,730
79,219 70,629
75,133 76,745
89,857 91,896
110.787 L11.857

45,535
33,673
23,512

44,707
33,716
23,034

40,050
33,186
23,374

22,107
23,684
22,452
23,022
24,241
24,547

22,140
23,755
22,323
23,220
23,955
24,831

22,062
23,755
21,599
22,866
24,522
24,430
23,050
23(,275
26,746
35,064
37,033
39,587
32,781
30,077
31,046
34,225
36,839
40,137
41,309
48,497
55,771
64,470
70,006
79,936
93,827
L19,788

23,008 23,042
26,105 26,496
34,583 34,942
36,993 36,831
40,178 40,127
33,234 32,912
29,703 30,065
31,546 31,450
34,026 34,255
36,682 36,869
39,429 39,772
41,845 41,468
47,366 47,385
54,775 55,479
63,006 63,440
63,757 69,910
77,777 78,163
91,354 92,575
111,866 113,647

This series contains no revisions but 1s reprinted

35,974
30,030

51,IXB
33,567
26,919

47,419
33,442
2.1,911

40,050
33,186
23,374

40,050
33,166
23,374

26,129
22,369
23,682
21,203

24/762
24,666
24,007
22,35S

23,555
22,558
23,257

22^062
23.755
21.S99
22,«66

22!062
23,755
21,599
22,866

24^659
24,036
23,595
23,698
28,355
35,668
37,490
38,472
31,494
30,541
32,742
34,976
37,817
40,198
41,866
50,761
58,986
67,663
73,179
84,683
105,418

24,242
22,824
23,043
24,651
32,030
37,41,7
38,421
35,445
30,?B7
29,077
32,4X7
35,877
38,909
40,959
43,612
52,625
60,549
67,996
74,592
86,126
109,654

24,430
23,050
23,275
26, '46
35,064
37.033
39,587
32,781
30,077
31,046
34,225
36,839
40,137
41,309
48,497
55,771
64,470
70,C06
79,936
93,827
119,788

24,430
23,050
23,275
26,746
35,064
37,033

24,179
23,365
34,154
36,625
39,960
33,613
29,938
30,671
33,985
36,285
39,894
41,805
43,663
52,697
62,730
70,629
76,745
91,896
111,857

39,587
32,781
30,077
31,046
34,225
36,839
40,137
41,309
46,497

55,771
64,470
70,006
79,936
93,827
119,788
(APRIL 1983)

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Mar.

Apr.

My
a

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

331. INDEX OF PRODUCER PRICES, CRUDE MATERIALS FOR FURTHER PROCESSING1
(1967=100)
194SI. . .

194$..
1950..
1951..
1952..
195.-I..
1954..
195!i. .
1956..
1957..
1958..
195^..
1960..
1961..
196;!..
1963..
1964..
1963..
196fi. .
1967..
1968..
1969..
1970..
1971..
1972..
1973..
1974..
197!>. .
197<>. .
1977..
1978..
1979..
1980..
1981..
1982..

115.9
102.1
94.6
121.8
114.5
104.1
102.5
99.3
94.1
100.1
100.3
100.9
97.1
97.1
97.9
96.9
95.1
94.4
105.5
102.9
100.2
104.0
112.2
111.3
120.6
143.8
202.3
190.3
201.4
205.5
215.0
255.8
289.5
330.0
320.2

109.9
99.0
97.4
126.4
113.3
103.4
102.3
98.9
95.5
99.0
101.9
100.4
97.2
97.5
97.7
95.7
94.0
95.6
107.6
100.5
100.5
103.2
112.3
114.6
121.8
150.5
205.5
185.0
198.4
209.9
218.4
261.9
295.3
332.6
317.9

107.1
98.1
96.8
125.0
111.7
103.7
102.6
98.0
95.1
98.5
103.3
100.6
98.1
96.9
97.4
94.4
94.4
95.9
107.0
99.2
101.0
104.6
- 113.6
113.1
121.7
157.4
198.9
182.4
196.6
212.9
223.0
268.2
290.3
330.6
317.0

109,3
96.5
97.3
124.8
111.5
101.0
103,0
98.8
96.7
98, 3
101.8
101.3
98.1
96.5
96.3
95.0
94.3
97.0
106.4
98.1
101.4
105.8
113.5
115.1
123.7
159.9
193.6
190.1
204.1
218.1
230.4
271.1
283.1
333.6
320.8

112.9
96.1
100.9
122.9
111.3
101.8
102.6
96.2
98.0
98.0
103.6
100.5
98.3
95.5
96.1
94.7
94.0
98.5
105.6
99.2
100.7
108.7
111.7
115.0
125.4
167.8
186.1
195.4
203.2
216.1
232.6
272.1
286.8
332.4
326.4

115.5
95.0
102.6
121.7
110.7
100.3
100.7
98,1
97.4
100.5
102.2
100.0
97.3
94.0
95.7
95.5
92.9
100.9
105. 5
100.2
100.1
110.1
111.8
115.5
126.0
175.6
176.9
196.4
208.3
209.1
238.4
274.2
288.1
335.5
325.8

115.1
93.2
106.4
117.4
110.6
103.4
100.2
97.2
97.3
102.2
102.6
99.0
97.2
95.0
96.6
95.9
93.4
99.7
106.7
99.9
101.1
109.0
112,1
114.6
127.9
167.6
190.9
199.4
207.1
206.8
237.2
276.8

111.3
113.5
93.4
94.2
108.5
110.3
114.7
115.6
110.8
108.2
102,2
101.4
99.0
99.9
97.3
96.1
99.0
99.1
99.7
102.4
101.9
101.2
98.2
98.8
95.7
95.2
96.6
97.3
99.7
97.3
95.5
95.3
93.8
96.1
100.6
100.4
106.8
107.3
100.0
99.6
102.0
101.3
110.0
109.8
111.0
113.4
114.4
113.9
128.8 . 129.3
204.8
194.4
200.8
194.6
206.0
201.3
203.2
202.6
204.0
203.5
235.4
240.0
273.0
279.9

336.1
322.1

333.0
319.1

327.4
315.4

-0.9
-0.6
-1.1
-1.4
0.3
0. 3
-0.9
-0.4
-0.5
1.4
0.2
0.9
-0.6
-0.3
-1.4

-1.6
0.5
-0.2
-0.2
-2.6
0.4
0.8
1.7
-0.2
-1.5
0.7
0.0
-0.4
-1.1
0.6

-0.4
3.7
-1.5
-0.2
0.8

-1.1
1.7
-1.0
-0.5
-1.5

-1.9
3.7
-3.5
-0.1
3.1

0.2
2.0
-1.5
0,2
-1.9

0.9
1.7
-0.8
-2.3
0.8

-2.6
1.3
-0.3
1.8
-0.8
0.2
-1.0
-0.2
-0:3

2.0
-0.6
2.6
-1.4
-0.5
-1.0
-1.6
-0.4
0.8

0.1
0.9
1.4

-3.0
3.0
3.8
-1.0
-0.7
-0. 2
-0.4
1.5
-1,1
1.6
-0.5
0.1
0,4
-0.2
-1.2
-1. 2
1.3
2.0
-2.3
0.3
-0.8
0.1
3.0
1.0

0.3
-0.6
-1.3
0.5
1.4
1.2
-1.3
-0.1

1.1
-0.6
-1.1
0.4
1.1
-0.1
1.8
1.6

1.5
-0.'8
1.1
-0.7
2.7
-1.6
-0.1
1.4

2.4
-0.1
1.0
-0.6
1.3
0.1
0.4
0.5

-0.9
-0.1
1.7
0.4
-1.0
-0.1
1.1
0.9
0.4
0. 5
-1.2
1.1
-0.3
1.0
-1.0
0.3
-0,8
1.5

-1.1
1.7
0.2
-0.7
-0.8
-2.1
2.4
0.7
-O."4
0. 4
0.9
0,6
0.1
0.2
0.9
-1.0
-0.2
0.7

1.2
0.1
-2.6
-0.7
0.6
0.5
-0.7
2.5
-0.2
2. 5
-0.2
-0.5
-0.4
0.7
-0.2
2.2
-0.4
0.4

7.1
-3.2
-1.6
-0.2
1.3
2.6
-0.4
0.9
1.6

1.6
-2.8
-1.5
2.1
1.6
2.4
2.0
0.8
-0.7

-3.2
-1.4
-0.9
1.4
2.1
2.4
-1.7
-0.6
-0.3

4.2
3.8
2.4
3.3
1.1
-2.5
0.9
1.2

-3.9
2.8
-0.4
-0.9
1.0
0.4
1.3
-0.4
1.7

-4.9
0.5
2.5
-3.2
2.5
0.8
0.5
0.9
-0.2

1.5
-0.6
-1.1
-0.5
0.9
5.1
0.2
-1.1

1.0
-1.9
-1.4

2.3
-0.3
-0.2
2.0
2.5
0.7
-1.7
-1.2

-3.2
-0.2
4.0
-1.9
-1.0
1.3
0.7
-0.1
-0.9
-0.3
-0.1
0.1
0.2
0.1
-1'. 1
1.4
-0.9
0.9
0.6
-0.4

0.5

-0.8 •

-1.4
4.8
-0.9
-0.9

331C . CHANGE IN INDEX OF PRODUCER PRICES, CRUDE MATERIALS FOR FURTHER
OVER 6-MONTH S PANS 2
(COMPOUND ANNUAL RATE, PERCENT)
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..
19T6..
1977..
1978..
1979..
1980..
19*11*.
1982..

the

3.6
-20.2
6.2
28, 0
-9.8
-12.2
5.5
-1.8
—0.6
-1.2
5.5
-1.0
0.2
-0.2
-1.2
-6.6
-2.9
3.6
-12.9
2.6
6.8
4.4
3.0
13.1
49.7
7.3
-11.4
-3.7
17.4
26.9
21.5
0.2
5.0
-1.1

0.2
0.0
2.4
-0.4
-1.9
0.7
-0.3
-0.2
-0.6
0.6
-0.8
0.9
0.3
-1.4
0.4
-0.8
0.9
-1.6
0.5
0.4
1.2
0.0
2.1
1.1
-3.9
3.8
1.0
-0.6
0.5
2.5
1.0
1.9
-1.5
-0.3

105.5
94.8
117.1
116.7
105.1
101.2
98.6
94.2
101.0
100.6
101.0
97.0
96.9
97.8
98.0
93.8
95.3
104.6
102.3
100.6
103.5
112.1
110.3
118.9
140.0
188.9
196.6
204.6
205.9
212.2
249.3
290.6
327.2
315.1
316.5

0.4
2.5
-0.9
-0.2
-0.5
0.6
-3.1
0.4
0.4
0.9
-0.5
-0.1
-0.3
0.6
0.8
0.2
1.2
-1.8
-0.6
2.3
1.3
-1.2
1.7
2.7
0.9
1.5
-1.2
0.6
2.2
0.5
1.3
1.1
-1.4
1.0

0.0
3.5
0.3
-2.3
1.4
-1. 7
0.2
1.7
1.1
-1.7
-0.5
0.4
1.2
-0.9
-2. 8
-0. 2
2.0
-0.9
1.1
-1.2°
-0.4
-1.5
0.5
4.3
0.2
-4.1
-0.5
1.7
1.6
0.8
1.4
-0.6
-0.9
-0.3

111.0
99,7
96, 3
124.4
113.2
103. 7
102.5
98.7
94.9
99.2
101.8
100.6
97.5
97.2
97.7
95.7
94.5
95.3
106.7
100.9
100.6
103.9
112.7
113.0
121.4
150.6
202.2
185.9
198.8
209.4
218.8
262.0
291.7
331.1
318.4

6.7
-11.0
24.1

8.0
-7.8
29.8

-2.4
-4.3
28.5

-10.2
-2.7
25.6

-16.6
-0.4
30.3

-21.3
3.0
31.0

-23.9
8.7
35.7

-8.4
-10.5
5.7
-8.0

-10.0
-8.9
-1.0
-1.0

-6.7
-1.3

-4.4
-3.8

-6.2
-2.9

-6,5
-1.4

-6.5
-3.9

-9.9
1.8

-11.4
-1.7

-12.9
1.8

-22.3
5.6
28.4
-5.2
-8.1
0.8

-4.2

-5.6

-1.4

-3.6

-4.5

1.6

3.1

-7.8
7.5
0.2

-6.3
5.8
-3.7

-1.2
0.0
-1.0

-4.5
-1.2
7.4

-3.8
-0.2
6.2
0.6
-1.7
2.2
12.0
-7.0
0.6
5.8
6.0
-1.4
10.7
26.4
45.7
-0.6
2.0
-1.5
8.1
16.3
9.4
18.7
-9.2
-4.0

-2.0
4.9
0.8
-3.3
-3.1
3.9
14.4
-12.3
1.0
3.8
4.2
6.6
13.4
36.5
0.7
-15.1
-2.9
6.7
14.6
23.8
17.0
9.9
-8.9
-0.9

7.0
0.0
-4.3
-4.1

2.5
—4. 0
-3.5
-4.8

-6.4
-3.0

-2.6
-2.1
-3.5
11.5

-O.R
-0.4
-0.4
10.7

4.8
1.9
3.6
9.6

4.2
1.5
2.1
9.1

3.2
8.3

-5.9
-0.8
8.2
4.9
-3.5
5.2
7.5

-4.1
-7.6
2.4
-1.0
13.2
7.6
-0.5
-1.4
9.7
5.4
12.3
12.4
57.3
56.3
-2.6 ' -12.3
-0.2
-9.1
3.6
-2.3
3.1
13.9
24.0
26.2
21.2
21.0
-1.7
0.1
5.1
1.9
5.3
6.9

-5.7
1.8
9.8
-0.2
6.0
12.5
35.8
-11.0
9.8
5.7
1.3
21.7
17.1
9.5
3.7
1.2

-1.0
1.6

0.8
2.0

4.1
2.0

0.6
8.3

0.8
6.9

-2.3
-0.3
11.8
85.2
-4.5
18.4
4.9
-5.5
16.2
8.7
15.5
0.2
0.8

-0.4
1.4
12.9
52.5
-4.3
27.6
6.2
-8.6
15.8
8.9
21.2
-1.9
-1.0

-0.2
2.1
11.6
36.6
8.9
19.7
-2.7
-12.1
13.9
8.8
32.3
-6.5
-4.0

0.5
5.8
14.5
26.3
21.3
10.7
-0.7
-6.6
12.9
10.9
31.8
-8.4
-5.5

-2.7
6.0
23.5
15.7
23.5
8.5
-2.3
3.0
9.4
• 12.3
29.0
-11,8
-5,6

-4.2
1.6
-2.1
-1.0
-8. 3
-5.1
6.4

-5.9
-3.6
2. 3

3!B

NOTE:
P e r c e n t c h a n g e s a r e c e n t e r e d w i t h i n t h e s p a n s : 1 - m o n t h c h a n g e s a r e p l a c e d o nt h e 2 d m o n t h a n d 6 - m o n t h
4 t h m o n t h .
Q u a r t e r l y a n d annual figures a r e a v e r a g e s o f t h e c e n t e r e d
c h a n g e s .
'This s e r i e s c o n t a i n s r e v i s i o n s b e g i n n i n g w i t h 1 9 7 8 . 2 T h i s s e r i e s c o n t a i n s r e v i s i o n s b e g i n n i n g w i t h 1 9 7 7 .




112.6
95.9
100.3
123.1
111,2
101.0
102.1
97.7
97.4
98.9
102.5
100.6
97.9
95.3
96,0
95.1
93.7
98.8
105.8
99.2
100.7
108.2
112.3
115.2
125.0
167.8
185.5
194.0
205.2
214.4
233.8
272.5
286.0
333.8
324.3

113.3
93.6
108.4
115.9
109.9
102. 3
99.7
96.9
98.5
101.4
101.9
98.7
96.0
96.3
97.9
95.6
94.4
100.2
106.9
99.8
101.5
109.6
112.2
114.3
128.7
188.9
195.4
202.2
204,3
204.8
237.5
276.6
313.3
332.2
318.9

106.8
94.7
113.5
116.8
106.8
100.4
99.5
95.1
99.7 '
99.7
101.8
97.5
96.7
97.1
98.4
95.3
95.4
102.8
103.5
100.1
103.6
111.9
111.9
117.8
135.0
188,1
201.2
206,1
203.2
208.5
247.5
286.7
327.4
318.6
316.0

110.9
96.0
104.6
120.1
110.3
101.9
101.0
97.1
97.6
99.8
102.0
99.4
97.0
96.5
97.5
95.4
94.5
99.3
105.7
100.0
101,6
108.4
112.3
115.1
127.6
174.0
196.1
196.9
202.7
209.2
234.4
274.3
304.6
329.0
319.5

-2.4
0.7

2.2
-1.4
-0.5
0. 5
-0.2
0.3
-0.8
0.9
-0.1
0.4
0.0
-0.1
-1.2
0.2
0.2
0.8
-1.0
0.1
0.4
0.5
0.9
0.8
4.0
1.8
-2.5
-1.3
1.1
1.7
2.5
0.0
0.4
0.2

-1.0
2.0
-0.9
-0.3
-1.1
-0. 6
0.1
0.8
0.7
-0.4
-0.2
-0.3
-1.0
-0.6
0.4
-0. 5
1.7
-0,5
0.3
-0.3
1.7
-0.5
0,7
1.2
3.7
-3.8
2.5
2.0
-0.6
2.3
0.8
-0,2
0.5
0.9

-0.3
2.5
-1.9
-0.7
0.7
-0. 6
-0.3
0.6
-0.2
-0.3
-0.4
-0.6
0.9
1.4
-0. 1
] .l
-0.2
0.4
-0.2
0.6
-0.1
0.5
-0.5
0.9
4.2
3.3
1.6
-0.9
-0.9
0.2
0. 7
3.5
-0.8
-1.1

-1,8
0.2
2.0
0.6
-1.0
-0.3
-0.1
-1.1
0.6
0.3
-0.1
-0.6
0.4
0.4
-0.6
-0.5
-0. 3
1.4
-1.4
0.3
0.5
0.7
-0.9
1.4
2.7
-0.9
0.4
-0.2
0.6
1.4
1.3
1.2
0.8
-1.3
0.1

-0. 5
-0.9
1.8
0.0
-0.9
-0.3
-0.2
-0.4
0.6
0.0
0.0
-0.3
0.0
0.1
0.0
-0.4
0.1
0.8
-0.2
-0.1
0.2
0.7
-0.1
0.6
1.4
2.7
0.4
0.4
0.1
0.3
1.4
1.3
1.0
-0.3
0.0

AVERAGE FOR PERIOD

-1.4
-16.7
26.5

4.2
4. 6
-3! 7
0.2

Annual

PROCESSING,

4.7
-18.9
17.1

-1.0
3. 2
-2.0
0.6
-5.9
-4.2
-5.0
-1.9
12.1

IV Q

AVERAGE FOR PERIOD

9.1
-19. 3
13.3

-2.6

III Q

AVERAGE FOR PERIOD

108.0
107.0
94.4
94.8
110.3
113.1
117.4
116.3
107.8
107.6
100.3
99.8
99.7
100.3
97.0
94.0
98.9
99.3
99.1
99.5
101.8
102.7
98.0
97.5
96.6
96.5
96.9
96.6
98.3
98.9
95.7
96.5
95.3
95.5
101.3
102.5
105.1
103.2
100.1
99.5
102.4
104.8
111.1
112.5
113.4 . 112.0
116.3
118.3
130.7
134.2
186.9
188.6
202.0
205.0
208.0
205.6
201.3
202.5
204.5 ' 208.9
245.9
247.2
282.8
286.6
325.6
329.3
322.5
318.1
314.3
317.3

331C . CHANGE IN INDEX OF PRODUCER PRICES, CRUDE MATERIALS FOR FURTHER PROCESSING,
OVER 1-MONTH SPANS1
(MONTHLY RATE, PERCENT)
19413.,
194!)!!!
1950...
1951...
1952...
1953...
1954...
19515...
195(5..,
1957...
1958...
1953...
1960...
196L...
1962...
1963: '.'.
1964..•
1965...
1966...
1967...
1968...
1969...
1970...
1971..,
1972...
1973...
1974...
1975...
1976...
1977...
1978.,.
1979...
1980...
1981...
1982...

II Q

c h a n g e s

-1.4
2.5
1. 7
-10.3
-1.9
-0.4
13.6
-13.7
2.R
5.2
7.0

-o!s

14.2
48.2
4.7
-12.1
-8.9
10.4
20.1
24.9
7.6
7.0
-6.3
2.6

5.8
-19.5
12.2
18.0
-9.4
-10.5
3 . 4
- 3 . 6

5.0
-1.6
5. 7
-2.4
0.8
-2. 7
-2.1
-6.6
-3.3
7.4
6.0
-8.2
1.3
9.2
0.8
6.0
12.6
54.4
-2.5
-6.9
-0.8
11.5
25.7
21.2
-0.5
4.0
3.7

a r e placed o n

4.4
-11.8
26.8
-13.1
-5.8
-2.7
-5. 3
-3.7
4.6
0. 2
-3.8
-2.9
-1.8
0.5
-0.2
-0.1
10.6
0.4
-2.0
1.8
11.2
-1.0
2.4
12.4
57.8
-6.6
18.6
5.6
-4.3
17.9
11.6
15.4
0.7
0.3

-9.7
-2.5
28.1
-10. 0
-7.6
-1.2
—4. 9
-5. 3
4.9
1.6
-1. 3
-6.1
-2.5
3. 8
5.0
0.6
3.5
8.3
-4.3
1.8
5.7

-o!s
4.6
16.5
26.2
17.9
13.0
-1.9
-5.2
12.1
10.7
31.0
-8.9
-5.0

-22.5
5.8
31.7
-4. 7
-10.8
0.3
-1. 9
-4.0
1.5
0.9
-2. 5
-2.4
2.4
2. 9
-4,3
-2.2
1.9
13.3
-11.0
1.5
4.9
5.7

-5.S
-7.0
24.7
-2.4
-8.4
-3.5
-2. 2
-4,2
4.8
1.4
0. 5
-3.7
-0.5
0. 5
-0.2
-2.1
0.5
9.9
-2.2
-1.7
3.4
8. 3

i!e
12.8
37.0
17.0
-9.3
-3.3
5.2
14.3
21.7
11.3
11.9
-8.1
-0.8

6.4
19.6
38.9
-0.1
5.4
2.0
4.1
19.3
13.7
14.5
-3.1
-0.4
(APRIL 1 9 8 3 )

101

C. Historical Data for Selected Series—Continued
Year

Jan.
332 .

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...
1970...
1979...
1980...
1981...
1982...

77.5
78.0
74.0
88.5
86.2
84.9
86.5
86.5
90.2
93.8
94.3
95.0
95.8
95.2
94.8
94.7
95.7
96.0
97.7
99.9
101.1
104.2
108.6
111.8
116.3
123.4
142.6
180.0
184.4
195.6
207.8
226.9
266.9
297.0
311.9

Feb. 1 Mar.

Apr.

INDEX OF PRODUCER PRICES,
76.8
77.2
74.4
89.2
06.0
84.9
36.4
86.9
90.4
94.1
94.0
95.2
95.8
95.3
94.S
94.7
95.6
96.0
98.1
99.7
101.6
104.6
108.5
112.0
117.0
125,3
145.2
179.5
184.9
196.6
209.1
228.9
271.8
298.3
311.0

77.0
76,7
74.7
89.3
85.5
85.3
86.4
86.8
91.1
94,0
94.0
95.3
93.9
95.4
94.9
94.6
95.4
96.1
98.3
99.6
101.7
103.1
108.4
112.6
117.2
127.5
149.3
178.3
185.5
198.3
210.4
231.5
273.6
301.1
309.6

77.7
75.8
75.1
89.4
85.4
85.3
86.5
87.0
91.6
93.9
94.0
95.5
95.8
95.3
95.0
94.5
95.4
96.3
98.7
99.5
101.8
105.0
108.9
112.8
117.5
128.2
152.2
178.6
186.1
200.0
211.5
234.9
274.2
304.2
308.4

My
a

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

78.9
73.7
83.6
86.6
85.1
86.3
86.5
89.7
93.2
94.3
94.6
95.8
95.3
94.7
94.8
95.6
95.8
97.6
99.9
100.7
103.1
107.4
111.3
115.6
121.2
136.1
179.5
183.1
193.6
205.7
223.2
258.3
290.6
310.7
311.7

78.3
73.7
86.1
86.4
84.8
86.4
86.4
89.9
93.4
94.4
95.0
95.7
95.1
94,9
94,8
95.7
96.0
97.5
99,9
101.1
103.7
107.8
111.4
116.2
122.8
139.0
179.4
183.8
194.9
206.6
224.6
260.9
293.5
311.0
311.8

77.1
77.3
74.4
89.0
85.9
85.0
86.4
86.7
90.6
94.0
94.1
95.2
95.8
95.3
94.8
94.7
95.6
96.0
98.0
99.7
101.5
104.6
108.5
112.1
116.8
125.4
145.7
179.3
184.9
196.8
209.1
229.1
270.8
298.8
310.8

7H.2
7!i.4
7<nO
89.2
85.4
8S.8
8<i-5
87.2
91.9
93.9
94.0
9H.7
9S.7
9!>.O
9.S.0
9!J.O
9!».3
9<>.6
99.1
99.6
io;».o
1015.2
109.3
113.3
117.8
130.9
15<i.4
17H.1
187.3
201-0
213.2
237.7
27<>.2
305.6
3OH. 9

IQ

ll Q

I
N
INTERMEDIATE MATERIALS , SUPPLIES A D COMPONENTS
(1967-100)
78.1
75.4
76.2
89.3
85.2
85.9
86.6
87.2
92.0
93.8
94.0
95.9
95.6
95.0
95.1
95.2
95.3
96.5
99.2
99.5
101.9
105.2
109,3
113.2
117.9
131.1
156.9
177.9
187.1
201.4
213.2
237.8
275.9
305.6
308.7

78.8
74.9
76.7
89.0
85.5
86.2
86.4
87.4
92.1
94.0
94.1
95.8
95.8
94.8
95.0
95.4
95.1
96.9
99.3
99.8
102.2
105.4
109.7
113.8
118.1
133.5
160.0
177.7
188.6
201.5
214.8
240.3
278.5
307.0
309.7

78.9
74.7
78.3
88.1
85.3
86.8
S6.6
88.1
91.3
94.2
94.2
95.8
95.7
94.7
95.1
95.3
95.2
96.9
99.8
99.9
102.3
105.5
110.1
114.6
118.4
131.3
165.7
178.4
189.7
202.0
215.4
244.3
280.8
307.6
310.3

79.2
74.3
79.5
86.9
85.5
86.5
86.4
88.4
92.3
94.5
94.3
95.7
95.6
94.7
95.0
95.3
95.2
97.1
100.3
100.0
102,4
106.0
110.3
115.4
118.6
135*1
173.3
180.0
190.3
202.9
217.0
247.6
283.9
309.6
310.3

79.3
74.0
£11.2
86.7
85.6
86.4
86. 3
99.2
92.6
94.4
94.4
95.6
95.6
94.7
95.0
95.3
95.4
97.2
100.1
100.2
102.7
106.3
110.6
115.4
119.4
133.4
173.5
1B0.6
192.1
203.9
218,8
251.8
2SS.4
309.9
310,8

78.9
73.9
82.7
86.5
85.4
86.4
86.2
89.6
93.1
94.2
94.5
95.7
95.5
94.5
94.9
95.6
95.8
97.3
99.8
100.3
102.9
106.9
111.2
115.3
120.2
134.7
177.4
182.4
192.3
204.3
221.2
256.0
288.2
310.3
310.9

2.0
-0.4
0.4
2.8
-0.2
0.1
0.1
0.1
0.3
0.4
-0.1
0.0
0.1
0.1
-0.1
-0.1
0.0
0.0
0.2
0.0
0.0
0.5
0.7
0.4
0.1
0. 5
2.6
0.3
0.3
0.4
0.6
1.0
?..3
1.2
0.3

-0.9
-1.0
0.5
0.8
-0.2
0.0
-0.1
0,5
0.2
0,3
-0.3
0,2
0.0
0.1
0.0
0.0
-0.1
0.0
0.4
-0.2
0.5
0.4
-«0.1
0,2
0.6
1.5
1.8
-0.3
0.3
0.5
0.6
0.9
1.8
0.4
-0.3

0.3
-0.6
0.4
0.1
-Q.6
0.5
0.0
-0,1
0.8
-0.1
0.0
0.1
0.1
0.1
0.1
-0.1
-Q.2
0.1
0.2
-0.1
0.1
0.5
-0.1
O.S
0.2
1.8
2.8
-0.7
0.3
0.9
0.6
1.1
0.7
0.9
-0,5

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...

84.1
8lu5
8!ul
8<>.4
8<i,4
89.7
9.1.2
94,3
94.7
9!!.7
9S.3
94.7
94,8
9!i t 6
9!».9
9*'. 5
99.9
10CK7
io;t*2
10"',4
1U.3
ll!i.7
12^,4
13(i.6
178 t 8
18'l.l
19:1.6
2O!i,5
22:*. o
258.4
290.fi
310*7
311.5

78.3
75,2
78.6
88.1
65.5
86.0
86.5
88.1
92.0
94.1
94.3
95.6
95.6
95.0
94.9
95.2
95.5
96.8
99.2
100.0
102.3
105.8
109.9
114.1
118.7
131.6
162.9
180.0
189.1
201,5
215.6
243.2
280.3
306.0
310.4

AVERAGE FOR PERIOD

0.4
-0.5
1.5
-1.4
0.2
-0.3
-0.2
0.3
1.1
0.3
0.1
-0.1
-0.1
0.0
-0.1
0.0
0.0
0.2
O.S
0.1
0.1
0.5
0,2
0.7
0.2

0.1
-0.4
2.1
-0.2
0.1
-0.1
-0.1
0.9
0.3
-0.1
0.1
-0.1
0.0
0.0
0.0
0.0
0.2
0.1
-0.2
0.2
0.3
0,3
0.3
0.0
0.7

-0.5
-0.1
1.8
-0.2
-0.2
0.0
-0.1
0.4
0.5
-0.2
0.1
0.1
-0.1
-0.2
-0.1
0.3
0.4
0.1
-0.3
0.1
0.2
0.6
0.5
-0.1
0.7

0.0
-0.3
1.1
0.1
-0.4
-0.1
0.3
0.1
0.1
0.1
0.1
0.1
-0.2
0.2
-0.1
0.0
0.0
0.3
0.1
0.4
0.2
0.5
0.1
0.3
0.8

-0.8
0.0
3.0
-0.2
-0.4
0.1
-0.1
0.2
0.2
0.1
0.4
-0.1
-0.2
0.2
0.0
0.1
0.2
-0.1
0.0
0.4
0.6
0.4
0.1
0.5
1.3

0.5
-0.7
0.4
1.2
-0.3
0.2
0.0
0.2
0.4
0.2
-0.1
0.1
0.1
0.1
0.0
-0.1
-0.1
0.0
0.3
-0.1
0.2
0.5
0.2
0.4
0.3

0.8
-0.8
a.9
-0.1
0.0
0.3
0.0
0.2
a. 3
0.0
0.0
0.2
0.0
-0.2
0.0
0.3
-0.1
0.3
0.3
0.1
0.2
0.1
0.4
0.4
0.3

0.5
1.9
0.2
0.3
0.9
0.5

4.6
0.9
0.3
0.4
0.7

0.1
0.3
0.9
0.5
0.8

2.2
1.0
0.1
0.2
1.1

1.2
0.4
0.7
0.7
0.9

-0.1
0.4
0.7
0.4
0.6

2.4
-0.2
0.3
0.6
0.6

1. 5
"A.
-0.1 3
0.5
0,5
0.7

0.0
2.8
0.5
0.6
0.4
0.6

O.S
0,4
0,9

0.2
-0.5
1.3
0.0
-0.1
0.2
0.0
0.3
0.3
0.1
0.0
0.1
0.0
0.0
0.0
0.1
0.0
0.1
0.2
0.1
0.2
0.3
0.3
0.4
0.5
1.0
2.2
0.2
0.5
0.5
0.7

1.5
0.2
1.0
-0.4

0.6
0.5
0.1

0.9
0.5
0.3

0.8
0.2
0.2

1.1
0.7
0.0

0.5
0.1
0.2

1.0
0.1
0.0

0.8
0.1
0.3

1.0
0.1
0.0

1.6
0.8
-0.2

0.6
6.7
0.0

0.8
0.3
0.1

0.9
O.I
O.I

l'.O
0.5
0.0

c

2.1
-4.5
20.4
-6.0
-0.2
0.9
-0.2
5.8

-1.3
-3.2
26.0
-5,8
-1.6
0,5
0.0
5.8

-2.3
-1.9
27.8
-4.3
-0.9
-0.7
-0.2
4.8

-S.0
0.3
25.9
-2.1
-1.4
-0.2
1.2
4.6

-6.4
1.9
20.9
-2.7
-0.7
0.0
1.2
4.3

8.3
-8.3
6.2
12.6
-2.6
1.7
0.3
1.9

0.9
1.9
-0. 2
-1.5
0.2
-0.4
0.6
1.9
1.2
1.2
2.6
3.0

-1.1
1.9
0.2
-0.6
0.2
-0.6
0.6
1.7
2.1
-1.2
3.2
4.3
4.8
3.1

-0.8
1.9
0.6
-0.4
0.4
-0.8
0.2
1.5
2.3
-1.0
3.0
4.7
4.0
3.6

1.4
-0.5
2.2
0.0
-0.5
0.7
0.4
-0.8
1.5
3.3
-0.5
2.5
3.8
3.7

11.6
15.5
7.3
5.5
6.7
6.2
11.3
20.5
X0.4
0.9
0.1

14.0
25.3
5.6
5.5
6.6
6.5
11.9
18.1
11.3
-0.2
-1.6

3.7
16.3
31.0
-0.8
4.6
7.8
7.6
13.6
14.2
10.5
-1.1

-8.3
12.0
-0.9
-2.1
4.5
0.2
3.7

-7.4
14.2
-5.1
-1.2
3.8
0.0
3.5

-6.9
18.2
-5.7
0.2
2.6
-0.2
5.6

1.7
-0.4
2.1
0.2
-0.4
1.1
-0.8
-0.4
1.0
2.9
-0.6
3.0
4.1
3.8

1.3
-0.6
2.8
-0.4
-0.6
0.8
0.8
-0.6
1.5
3.3
-0.8

1,3
-0.6
I.7
0,2
-0.6
0.2
1.3
-1.3
1.9
3.7
-0.2

0.9
-0.2
1.7
-0.2
-1.0
0.6
1.3
-1.0
1.9
4.3
0.0

0.9
0.6
1.1
-0.4
-1.3
0.4
1.3
-0.8
2.3
4.5
0.6

0.9
0.9
0.6
-0.6
-1.5
0.2
1.5
0.0
2.3
3.7
1.2

0.6
1.1
0.4
-0.6
-1.7
-0.2
2.3
0.8
2.1
2.2
1.6
2.2

1.1
1.3
-0.2
-0.6
-0.6
-0.6
0.8
1.1
2.3
1.4
2.4
2.4

4.1
3.6

3.3
3.6

2.5
2.8

3.3

4.1

4.3

3.7

3.1

0.2
1.7
0.0
-1.0
0.2
-0.8
0.8
1.7
1.7
0.2
2.4
3.7
6.0
3.1

4.0
17.0
32.9
-1.8
4.4
8.2
7,4
13.5
14.1
10.6
-1.3

3.3
18.2
32.5
-1.9
S.3
6.9
8.1
14.5
13.9
9,4
-0.8

3.6
13.2
35.0
-1.8
5.8
6.7
7.4
15.9
10.7
7.3
-1.0

2.8
16.3
42.4
0.6
5.9
6.5
7.7
17.0
9.1
7.7
-0.4

3.8
9-5
35.0
2.6
7.2
5.7
8-1
18.3
8.8
5.9
0.8

4.6
10.4
35.9
4.3
6.8
4.3
9.4
18.8
10.5
4.1
1.6

5.7
7.8
30.9
5.9
7.1
4.3
9.6
18.0
10.9
3.4
2.0

8.1
8.4
25,7
7.0
6.8
5.1
9.3
.17.9
11,1
2.6
1.4

8.6
18.0
18.0
6.8
6.3
5.8
11.0
19.4
11.9
2.8
0.3

0.2
-0.4
1.9
-0.9
0.0
0.1
0.0
0.7
0.2
0.1
0.1
-0.1
-0.1
0.0
0,0
0.0
0.1
0.1
0.3
0.1
0.2
0.3
0.3
0.5
0.4

-CK4
-0.1

::.o

-o.i !
-0,3
(1.0
0,0
0.2
0.3
0,0
0,2
0,0
-0.2
0.1
-O.I
0.1,
0*2
0.1
-O.I
0,3
0,3
O.S
0.2
0,2
0.9
1,1

AVERAGE FOR PERIOD

3.1
-5.0
21.3
-6.4
0.0
2.6
-0.7
6.1

-8,5
8.3
6.8
-2.1
3.3
0.0
2,3

NOTE: Percent changes are centered w i t h i n the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th irunth. Quarterly and annual figures are averages o f the centered changes.
,
'This series contains revisions beginning with 1978. 2 Th1s series contains revisions beginning with 1977.




7H.7

0.1
-0.3
2.1
-1.0
-0.2
0.7
0.2
0.8
-0.9
0.2
0.1
0.0
-0.1
-0.1
0.1
-0.1
0.1
0.0
0.5
0.1
0.1
0.1
0.4
0.7
0.3
—1.6
3.6
0.4
0.6
0.2
0.3

-8.7
6.9
14.1
-3,2
1.9
0.7
1.6

102

79.1
74.3
79.7
87.2
85.5
86.6
86.4
88.6
92.1
94.4
94.3
95.7
95.6
94.7
95.0
95.3
95.3
97,1
100.1
100.0
102.5
105.9
110.3
115.1
118.8
133.3
170.8
179.7
190.7
202.9
217.1
247.9
283,4
309.0
310.5

0.9
-0.7
0.7
-0.3
0.4
0.3
-0.2
0.2
0.1
0.2
0.1
-0.1
0.2
-0.2
-0.1
0.2
-0.2
0.4
0.1
0.3
0.3
0.2
0.4
0.5
0.2
1.8
2.0
-0.1
0.8
0.0
0.8

-7.7
3.3
16.9
-2.5
-0.2
0.2
1.9

2.9
3.9
13.8
27.7
1.4
4.1
8.2
7.2
12.8
14.7
11.4
-1.2

Annual

0.5
-0.5
1.5
-0.1
-0.2
0.7
0.1
0.2
0.4
-0.1
0.0
0.4
-0.2
-0.3
0.1
0.7
-0.1
0.2
0.5
0.0
0.1
0.2
0.4
0.4
0.3
2.3
3.1
-0.4
0.5
0.7
0.8

0.9
-1.2
0.5
0.1
-0.1
0.0
0.1
0.2
0.5
-0.1
0.0
0.2
-0.1
-0.1
0,1
-0,1
0.0
0.2
0.4
-0.1
0.1
-0.1
0.5
0.2
0.3

332C. CHANGE IN IKDEiX OF PRODUCER PRICES, INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS,
(COMPOUND ANNUAL RATE, PERCENT)
OVER 1,-MONTH SPANS 2
1948...
1949...
1950...
1951...
1952...
1953...
1954..,
1955...

IV Q

AVERAGF, FOR PERIOD

332C. CHANGE IN INDEX OF PRODUCER PRICES, INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS,
OVER 1-MONTH SPANS1
(MONTHLY 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...

I1IQ

i.3
-7.5
14.8
-3 ..9
-1.0
2,6
0,0
4,3
3.3
0,9
0.4
1,1
-0,4
-J.. 3
n.4
1,4
-0.6
2,2
4,2
0.6
2.0
3,4

1.3
-4.2
22.6
-6.1
-0.6
1.3
-0.3
5.9
2.9
0.9
1.4
0.0
-0.9
-0.7
-0.4
1.2
1.3
1.9
1.6
2.2
2.5
4.2
3.7

3,4
13.0
37, 5
O.S
e>,.3
6.3
?,. 7
IV. 1
9,, 5
7.0
-0.2

6.1
8.9
30.8
5.7
6.9
4.6
9.4
X8.2
10.8
3.4
1.7

-4>, 6
0,1
24,9
-S.0
-1.0
-0. 3
0,7
4,6
~0*.6
1.8
0,3
-0.7
0,3
-0.7
1
1.6
2.0
-0.7
;.*)
4.2
4.9
3.3
S. 0
11.4
19.6
10. 3
5.9

a. *

e.s

f.2
11.4
ISO
11.2
1.2
-C.4

2.6
-5.0
17.1
-0.1
-1.3
1.6
0.2
4.2
3.8
0.7
0.8
0.9
-0.5
-0.6
0.0
0.9
0.4
1.9
2.1
1.3
2.8
3.9
3.5
4,1
6.2
14.4
27.4
2.8
6.1
6.2
9.0
17.1
11.4
5.5
0.0
(APRIL 1983)

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Mar.

Apr.

My
a

June

333. INDEX OF PRODUCER PRICES
(1967=100)
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...

57.6
63.2
62.8
70.1
71.8
72.4
74.2
75.0
79.4
85.9
89.4
90.7
91.6
91.8
92.0
92.2
92.6
93.9
95.0
98.8
101.9
105.1
109.8
115.3
118.1
120.2
128.1
157.0
168.8
178.9
192.2
208.3
228.0
253.5
274.9

57.9
63.6
62.8
70.4
72.4
72.4
74.3
75.1
79.9
86.3
89.5
90.8
91.7
91.7
92.0
92.2
92.7
94.0
95.4
99.1
102.2
105.4
110.2
115.7
118.7
121.1
129.2
158.3
169.6
179.8
193.2
210.1
229.8
256.1
274.5

58.1
63.8
63.0
71.0
72.5
72.7
74.3
75.3
BO.4
86.6
89.5
91.2
91.8
91.8
92.1
92.2
93.0
94.2
95.6
99.1
102.4
105.6
110.6
115.9
118.9
121.7
130.9
159.9
170.6
180.7
194.5
211.5
232.2
258.1
276.0

58.4
63.9
63.3
71.2
72.5
73.0
74.5
75.5
81.2
86.8
R9.6
91.3
91.7
91.8
92.2
92.2
93.1
94.4
95.9
99.4
102.9
105.8
110.8
116.2
119,3
122.3
132.4
160.8
171.3
181.5
195.4
213.4
235.6
260.2
276.5

July

Sept.

Aug.

Oct.

Nov.

Dec.

IQ

62.8
63.0
66.8
71.7
72. 3
74.2
74.5
7R.7
84.8
88.7
89.8
91.8
91.7
92.0
92.2
92.6
93.6
94.6
97.8
100.9
104.5
108.1
114.0
116.9
119.6
124.9
151.5
165.6

63.0
62.9
67.4
71.7
72.3
73.9
74.5
78.6
85.5
89. 0
90.2
91.5
91.6
91.9
92.2
92.6
93.6
94.8
98.3
101 . 2
'
104.7
108.9
114.6
116.9
119.8
125.5
153.7
166.8

63.2
62.8
69.3
71.7
72.3
74.0
74.9
79.0
R5.fi
89.3
90.5
91.5
91.6
91.9
92.3
92.8
93.5
94,9
98.6
101.6
104.7
109.4
114.9
117.7
120.2
126.6
155.1
167.7

57.9
63.5
62.9
70.5
72.2
72.5
74.3
75.1
79.9
86.3
89.5
90.9
91.7
91.8
92.0
92.2
92.8
94.0
95.3
99.0
102.2
105.4
110.2
115.6
118.6
121.0
129.4
158.4

72.6
73.4
74.6
75.8
81.6
87.0
89.7
91.6
91.7
91.8
92.2
92.2
93.3
94.4
96. 3
99.6
103.2
106.2
111.1
116.4
119.5
123.0
135.8
161.4

61.6
63.3
65.3
71.4
72.6
74.2
74.6
77.1
83.0
88.0
89,6
91.8
91.6
91.8
92.3
92.4
93.6
94.6
97. 2
100.2
104.0
107.3
112.3
117.2 •
120,0
124.1
145.2
163.7

189.0
203.3
221.5
248.0
270.3
282.0

190.4
205.3
223.2
249.5
272.3
283.1

191.7
206.7
225.2
2 50.7
273.6
284.6

179.8
193.3
210.0
230.0
255.9
275.1

182.5
196.9
214.7
236.7
262. 2
277.9

185.9
201.4
218.4
242.9
267.0
281.6

0.7
0.0

b.o
1.2

0.1
0.1
0.3
0.1
0.5
0.4
0.1
0.2
0.1
0.2
0.1
-0.1
-0.2
0.4
0.1
0.2
0.3
0.4
0.4
0.3
0.3
0.0
1.2
1.2
0.7
0.1
0.3
0.8
1.2
1.1
0.5

0.3
0.3
0.3
0.9
0.1
0.4
0.0
0.3
0.6
0.3
0.0
0.4

0.5
0.6
0.0
0.4
0.8
0.0
0.1
0.1
0.6
0.5
0.1
0.1
0.1
-0.1
0.0
0,0
0.1
0.1
0.4
0.3
0,3
0.3
0.4
0.3
0.5
0.7
0.9
0.8
0.5
0.5
0.5
0.9
0.8
1.0
-0.1

0. 5
0.2
0.5
0.3

59.6
63.7
63.B
71.5

60.7
63.7
64.4
71.5

61,8
63.3
65.4
71,3

62.4
63.0
66.1
71.4

73.3
74.6
75.8
81.7
87.0
89.7
91.6
91.6
91.8
92.2
92.2
93.4
94.3

73.9
74.6
76.1
B2.0
87.1
89.7
91.9
91.7
91.9
92.1
92.3
93.3
94.4

74.2
74.7
76.4
82.1
87.7
89.7
91.8
91.8
91.8
92.3
92.3
93.5
94.5

74.1
74.5
77.1
82.8
88.0
89.6
91.8
91.9
91.8
92.3
92.3
93.6
94.6

74.2
74.5
77.9
84.0
88.4
89.6
91.9
91.1
91.9
92.3
92.5
93.6
94.8

99.7
103,3
106-2
111.2
116.5
119.5
123.2
136.0
161.4
171.8
182.5
196.9
• 214,7
236.5
262.3
277.8

99.8
103,4
106.5
111.4
116.6
119.7
123.5
138.9
162.0
172.7
183.5
198.5
215.9
238.1
264.1
279.5

99.9
103.7
107.0
111.9
117.1
119.9
123.7
141.8
163.1
173.5
184.5
199.9
217.5
241.1
265.6
280. 5

100.2
104.0
107.2
112.2
117.4
119.9
124.1145.5
163.4
174.5
186.1
201.3
217,7
243.2
267.1
282.3

100.4
104.2
107.7
112.7
117.2
120.2
124.6
148.3
164.7
175.8
187.2
203.0
220.0
244.5
268.4
281.9

oio
0.4
0.3
0.3
1.0
0.2
0.1
0.1
-0.1
0.0

0.0
1.1
0.4
-0.3
0.0
0.0
1.0

0.8
0.0
0.4
0.1
0.0
0.3
0.1
0.1
-0.1
0.1
-0.1
0.1
0.4
0.1
0.1
0.3
0.2
0.1
0.2
0.2
2.1
0.4
0.5
0.5
0.8
0.6

0.7
0.0
-0.1
0.1
-0.1
0.2
0.0
0.2
0.1
0.3
0.1
0.3
0.5
0.4
0.4
0.2
0.2
2.1
0.7
0.5
0.5
0.7
0.7

0.3
-0.1
0.0
0.1
0,0
0,0
0.0
0.1
0.1
0.2
. 0.3
0.3
0,2
0.3
0.3
0.0
0.3
2.6
0.2
0.6
0.9
0.7
0.1

0.5
0.0
0.1
-0.9
0.1
0.0
0.2
0.0
0.2
0.2
0.2
0.2
0.5
0.4
-0.2
0.3
0.4
1.9
0.8
0.7
0.6
0.8
1.1

0.3
0,2
-0.1
0.7
0.1
-0.1
0.1
0.0
-0.2
0.4
0.5
0.3
0.4
1,2
-0.3
-0,5
0.2
2.2
0.5
0,3
1.0
0.1
0.7

0.7
0.6

0.6
0.4

0.6
0.6

0.5
-0.1

0.7
0.0

0.7
0.4

o.i

o.i

0.3
0.2
0.2
0.0
0.2
0.2
0.4
0.2
0. 2
0.5
1.3
1.0
0.6
0.5
0.7
0.7

oo
;

0.0
0.1
0.2
0.3
0.3
0.5
0.2
0.2
0.3
0.3
0.5
1.1
0.6
0.4
0.4
0.5
0.9

0.8
0.5

0.8
0.2

0.8
0.5

0.1

1.0
-0.5
1.1
0.1
0.0
0,1
0.0
1.0

0.4
0.1
0.4
0.2
0.1
0.3
-0.1
0.0
0.0
0.0
0.3
-0.1
0.4
0.3
0.4
. 0.4
0.4
0.3
0.2
0,7
2.7
0.4
0.3
0.6
0.8
0.6

0.1
0.1
0.1

1.8
-0.6
1.6
-0.3
-0,4
-0.1
-0.3
0.9

-0.2
0.9
0.0
0.0
-0.4
0.0
-0.1
0.8
0.3
0.4
-0.3
-0.1
-0.1
0.0
0,0
0.0
0.2
0.5
0.3
0.2
0.7
0.5
0.0
0.2
0.5
1.5
0.7
0.5
0.7
1.0
0.8

1.4
-0.2
0.3
0.1

197<». . .

1980,..
198J
198a...

6.1
3.5
1.0
13.6
2.2
1.9
0.8
6.5
4.8
2.0
3.4
-0.2
0.2
0.4
0.0
1.1
1.7
2.8
3.3
4.0
2.5
5.1
3.9
4.1
4.6
12.4
1-2.7
• 7.0
5.9
6.9
10.2
13.1
10.1
4.6

8.6
1.6
3.2
6,4
2.8
4.5
1.6

8. 0
3.5
1.6
3.1
0.2
0.4
0.7
0.0
1.7
1.5
3.2
2.9
4.2
4.3
3.3
4.5
5.8
17.4
10. 3
6.1
6.1
6.9
9.4
12.3
10.5
4.1

11.1
1.6
5.2
4.0
2.8
5.0
1.4

13.9
-0.9
8.5
2.6
0.3
4.8
0.5
5.4

15.3
-2.5
10.1
1.1
0.0
4,2
0.5
7.0

15.6
-2.8
11. 4
1,4
-0.6
3.3
0.0
8.7

14.8
-2.8
12.3
0.8
-0.8
1.6
-0.3
7.5

12.4
-2.8
18.0
0.6
-1.1
0.3
0.8
7.8

0.9
3.1
0.4
0.7
0.4
0.0
1.1
1. 9
3.8
2.4

6.4
2.6
2.2
12.2
2.S
2.8
1.9

0.7
2.4
0.4
0.0
0.7
0.2
2.0
1. 3
4.3
2.2

0.2
2.2
0.4
0.2
0.7
0.2
2.0
1.3
3.8
2.2

0.2
1.5
-1.5
0.2
0.4
0.7
1.3
1.3
3.8
2.6

0.4
1.1
0.0
0.4
0.0
0.9
1.1

1.1
-0.2
0.0
0.2
0.0
0.9
0.4

l.B
-0.9
-0.2
0.0
0.4
1.1
0.4

4.0
3.0

4.2
3.0

4.0
3.6

0.3
0.1
0.8
0.3
0.2
0.1
0.2
0.6
0.4
0,1
0.2
0.1
0.1
0.1
0.0
0.1
0.2
0.2
0.2
0.3
0.3
0.4
0.3
0.3
0.4
1.1
1.0
0.6
0.4
0.5
0.8

-0.1
0.4
0. 2
0.1
0,5
0.1
0.4
0.7
0.2
0.1
0.2
0.0
0.0
0.0
0.0
0.1
0.1
0.4
0.2
0.3
0.3
0.3
0. 2
0.2
0.5
2.0
0.5
0.4
0.5
0.7
0.7

0.5
0.5

1.0
1.0
0.3

0. 9
0.8
0.4

63.0
62.9
67.8
71.7
72. 3
74.0
74.6
78.8
85.3
89.0
90.2
91.6
91,6
91.9
92.2
92.7
93.6
94.8
9R. 2
101.2
104.6
108.8
114.5
117.2
119.9
125.'
153.'
166.'
177.'
190.'
205.]
223.3
249.4
272.1
283.2

-0.4
1.2
-0.1
-0.1
0.1
-0.1
0.8
0.8
0.5
0.0
0.0
-0.2
0.0
0.1
0.1
0.1
0.1
0.2
0.2
0.3 .
0.4
0.4
0.2
0.2
0.3
2.2
0.6
0.6
0. 7
0.7
0.6

60.4
63.4
64.9
71.2
72.4
73.6
74.5
76.7
82.4
87,5
89.8
91.5
91.7
91.8
92.2
92.4
93.3
94.4
96. 8
100.0
103.5
106.9
112.0
116.6
119.5
123.5
141.0
162.5
173.4
184.6
199.2
216.5
239.8
264. 3
279.6

0. 9
0.6
0.3

0.0
0,0
0.1
0.0
0.0
0.4
0.4
<* 0. 2
0.5
0.7
0.1
0.0
0.5
1. 5
0.6
0.5
0.8
0.6
0.8

0. 8
-0.1
0,8
0.3
0.0
0.2
0.1
0.4
0.7
0,3
0.1
0.1
0.0
0.0
0.0
0.0
0.1
0.1
0.3
0.2
0.3
0.4
0.4
0.2
0.2
0.4
1.7
0.6
0.5
0.6
0.6
0.7

0.8
0.6
0.3

0.9
0.7
0.3

-0.1
1.6
0.1
-0.1
-0.1
0.2
0.5
0.6
0.3
0.3
-0.1

0.2

14.3
-2.8

6.3
-1.5

2.6
1.0
4.7
O.R
5.4

0.9
-0.8
1.7
0.2
8.0
9. 2

2.3
-0.3
0.3
1.5
7.3
8.1

2.9

0,4
2.0
-0.2
0.1
0.6
0.4
1.8
1.3
4.0
2.3

2-8
-0.3
0.4
0.4
-0.2
0.9
1.0
1.5
3.7
4,0
2.7

3.0
4.4
3.4
4.0
5.3
16.7

3.7
3.8
2.8
2.4
5.2
25.9

1. 1
0.0
-0.1
0.2
0.1
1.0
0.6
0.9
4.1
3.2
2.8
5.0
6.2
1.3
0.6
4.4
27.8
6.7

8.4
-2.8

5.9
-1.6

4.5
0.0

7.0
2.6

13.4
-0.6

0.8
-1.1
0.0.
0.8

3.1
-0.3
0.5
1.6

3.1
0.6
0.3
2.2

10.7
2.5
3.1
1.4

2.7
2.2
-0.2
-0.4
-0.4
0.0
0.4
0.4
-0.2 - -0.2
0.9
0.7
0.9
0.9

3.6
-0.2
1.5
0.4
-0.2
1.1
1.3

1.5
3.2
0,1
0.4
0.5
0.0
1.3
1.7

4.0

4.0

4.0
5.5
5.8
2.9
2.5
10.4
16.3
8.0
8.5
11.4
11.4
5.7
3.4

5.8
7.0
9.6
12.4
10.5

6.9
8.6
8.2
11.6
8.9
4,7

3.7
3.0
3.4
5.6
20.4

3.9
3.1
3.1
5.9
22.5

3.7
3.0
2.0
5.0
26.8

3.8
2.3
2.2
4.8
28.4

5.9
1.2
0.5
4.3
30.9

6.2
0.7
0.5
3.8
27.7

6.4
1.9
0.8
5.1
24.7

6.2
1.7
0.5
7.2
22.6

6.1
5.4
7.2
9.1
11.8
11.0
4.4

5.6
6.4
8.2
9.0
11.8
9.8

5.9
7,1
8.6
7.4
12.0
8.8
5.8

6.2
7.3
8.9
8.2
10.9
8.1
4.3

6.0
8.4
8.2
7.7
10.8
7.9
4.0

8.8
8.7
8.1
11.3
7.8
3.9

9-1
8.4
8.8
10.9
7.3
3.7

8.5
8.6
9.9
10.6
7.1
2.7

7.8
8.9
11.4
10.9
5.6
2.4

4.4

MOTE: These series contain revisions beginning with 1978. Percent changes are centered w i t h i n the spans: 1-month changes are
placed on the 2d month and 6-month changes are placed on the 4th month. Quarterly and annual figures are averages o f the centered changes.




Annual

AVERAGE FOR 13ERI0D

5.7
6.3
2.2
2.0
9.4
18.4

4.1

58.9
63.8
63.6
71.4

-0.2
2.8
0.0
0.0
0.1
0.5
0.5
0.1
0.3
0.3
0.0
0.0
0.0
0.1
0.2
-0.1
0.1
0.3
0.4
0.0
0.5
0.3
0.7
0.3
0.9
0.9
0.5
0.8
0.7
0.7
0.9

333C. CHANGE CN INDEX OF PRODUCER PRICES, CAPITAL EQUIPMENT, OVER 6-MONTH SPANS
(COMPOUND ANNUAL RATE, PERCENT)
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957.!!
1956.. w.
1959'...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968,..
1969...
1970...
197]
197;:...
197-1. ..
1974...
197Ji. . .
197<;. ..
1977...
197(1...

IV Q

=>ERIOD
AVERAGE FOR ]

1. 8
0.0
0.9
0.0
0.1
0.4
0.1
0.4

0.7
-0.2
0.5
0.3

III Q

AVERAGE FOR PERIOD

58.8
63.8
63.6
71.4

333C. CHANGE EN INDEX OF PRODUCER PRICES, CAPITAL EQUIPMENT, OVER 1-MONTH SPANS
(MONTHLY 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..,

II Q

CAPITAL EQUIPMENT

8.8
8,4
8.2
11.0
7.7
3.9

6.]
2.:
i."r
8- *
19.]
7. ^
6.]
8.]
8."
10.9
11.0
6.1
2.8

iO.2
-0.6
4. 1
0.6
2.4
1.0
6.0
8. 1
4.0
1.4
1.2
0.0
0.3
0,3
0.6
1.2
1.3
3.8
3.1
3.2
4.3
5.1
2.4
2.2
5.9
22.4
7.9
6.2
7.4
8.2
9.2
11.5
8.3

4.0
(APRIL 1983}

103

C. Historical Data for Selected Series—Continued
Yeai

Jan.

Feb.

Mar.
334.

1948...
1949..
1950..
1951..
1952..
1953..
1954,.
1955..
1956..
1957..
195B..
1959..
I960..
1961..
1962..
1963..
1964..
1965..
1966..
1967..
1968..
1969..
1970..
1971..
1972..
1973,.
1974..
1975..
1976..
1977..
1978..
1979..
1980..
1981..
1982..

86.4
84.9
80.8
90.8
91.2
89.3
89.5
88.8
88.4
91.3
94.1
93.9
93.3
95.0
94.8
94.4
94.7
94.5
98.2
99.5
100.9
104.4
109.6
111.1
114.4
120.8
139,4
159.5
168.4
174,4
186.6
206.1
235.4
262.2
278.0

85.6
83.9
81.1
92.3
91.2
89.1
89.0
89.0
88.6
91.7
94.1
93.8
93.3
95.4
94.9
94.2
94,0
94.5
99.0
99.3
101.5
104.3
109.4
111.6
114.9
122.3
142.5
159.0
167.6
176.5
188.1
208.5
239.3
264.8
278.3

Apr.

My
a

June

Aug.

July

Sept.

Oct.

Nov.

Dec.

IQ

86. fl
81.4
86.6
91.6
90.3
89.3
88.5
88.2
90.6
93.0
94.1
93.3
95.3
93.9
94.7
94.2
94.5
96.9
100.3
100.6
103.9
108.1
110,5
113.6
117.6
133.2
156.2
168.2
171.2
183.5
199.6
226.6
256.9
275.3
284.4

R6.1
81.3
87.5
91.7
90.0
88.9
88.7
88.4
91.0
93.4
94.0
92.9
95.5
94.0
94.a
94.3
94.4
97.3
100.0
100.8
104.0
109.0
110.9
114.0
llfl.4
134.5
159.4
168.8
172.5
185.0
201.0
229.9
258.6
275.9
286.2

85.5
80.8
89.2
91.8
89.1
89.0
88.6
88.5
91.2
93.8
94.0
93.2
95.2
94.4
94.5
94.1
94.3
98.1
99.7
101.0
104.1
109.1
110.7
114.8
119.6
135.6
159.1
168.9
173.8
185.6
203.6
232.2
259.9
277.0
286.5

85.9
B4.2
81,0
91.7
91.2
89.1
89.2
BB.a
88.7
91.5
94.5
93.8
93.6
95.1
94.8
94.1
94.3
94.6
98.8
99.3
101.4
104. S
109.5
lll.S
114.7
122.9
141.9
159.0
167.9
176.4
187.9
208.3
238.8
264.9
277.8

-0.7
-0.6

0.4
-0.7
0.1
1.1
-0.2
0.0
0.0
0.0
0.2
0.1
0.5
-0.1
0.4
-0.1
0.1
-0.3
0.0
0.2
0.4
-0.2
0.3
0.2
0.1
0.4
0.0
1.6
1.9
-0.1
-0.3
0.8
0.6
1.1
1.4
1.0
0.0

.TNDEX OF PRODUCER PRICES, FINISHED CONSUMER 3OODS'
(1967=100)

85.6
83,7
81.. I
92.1
91,3
89.0
89.0
88,6
89.1
91. 6
95. 2
93.6
94.2
94.9
94.fi
93.6
94,1
94.9
99. 3
99.0
101.8
104.8
109,5
111. ft
114,111
125. 5
143.7
158.6
167,6
178,2
189,1
210.4
241.8
2:67,7
277.0

86.2
83.3
81.1
92.4
91.0
88.7
89.5
88.8
89.0
91.8
94.6
93.9
94.4
94.4
94.3
93.7
94.1
95.6
99.4
99.3
102.2
105,3
109.6
112.4
114,9
126.4
144.8
160.0
168.7
179.0
191.7
212.4
243.4
270,3
277.3

86.7
82,9
81.7
92.6
90.8
88.9
89.6
88.3
89.a
91.9
94.9
93.7
94,3
93.9
94.3
94,2
94.0
95.9
99.0
99.4
102.3
106.2
109.3
112.fi
115.6
127.3
146.2
161.1
168.6
180.3
192.8
213.4
244.4
270.8
276.9

87.1
B2.8
62.1
92.3
90.6
89.0
89.1
88.9
90.2
92.3
94.7
93.7
94.4
93.8
94.0
94.4
94.2
96.3
98.5
100.2
102.6
106.8
109.6
113.2
116.2
128.9
145.5
162.5
169.0
180.4
194.8
214.8
246.6
272.1
280.0

87.4
82.0
83.8
91.4
91.0
89.2
89.3
88.0
89.9
92.6
94.5
93.4
94.7
94.0
94.0
94.4
94.3
96.2
98.9
100.1
102.9
106.9
109.7
112.6
116.8
128.4
149.4
164.1
169.3
181.1
196.3
217.1
251.0
272.8
281.5

87.2
81.6
86.2
91.1
90.5
89.7
88.6
38.4
90,4
92.6
94.4
94.2
94.6
94.0
95.5
94.1
94.5
96.5
100.5
100.7
103.7
107.4
110.7
113.2
118,1
133.5
153.4
166.8
170,0
182.7
198.3
224. 2
255 = 1
274.2
283.0

87.6
81.8
85.4
91.2
90.9
89.1
89.2
88.2
89.8
92.8
94.3
93.1
94.6
94.3
94.6
94.2
94.3
96.4
100.2
100.4
103.0
107.1
109,5
113.4
117.3
134.0
152.0
165.7
169.6
182.1
196.4
219.7
254.1
272.9
282.6

II Q

III Q

IV Q

Annual

AVERAGE FCR PERUC
86.7
83.0
31.6
92.4
90. ft
98.9
89.4

as. 7

09.7
92.0
94.7
93.fi
94.4
34.0
94.2
94.1
94.1
95.9
99.0
99.6
X02.4
1,06.1
J,09.5
1.12.8
115.6
127.5
145,5
161.2
168.R
179.9
193.1
213.5
244.8
271.1
278.1

87.4
81.8
85.1
91.2
90.8
89.3
89,0
88.2
90,0
92,7
94.4
93.6
94.6
94.1
94.7
94.2
94.4
96.4
99.9
100.4
103.2
107.1
110.0
113.1
117.4
132.0
151.6
165.5
169.6
182.0
197.0
220.3
253.4
273.3
282.4

H6.1
81.2
87. R
9.1,7
«9.B
69.1

fta.6
es,4
90,9

$4,0
93,1
95.3
94,1
94,7
94,2
94,4
97,4
100,0
1C0.R
104.0
ion. 7
110.7
114-1
UB.S
134.4
iSR.a
172.5
1P4.7
2C:i, 4
259.6
fl5B»5
;(76H1

285« 7

86.5
82.5
83.9
91.8
90.7
89.2
89.1
88.5
89.8
92.4
94.4
93.6
94.5
94.3
94.6
94.1
94.3
96.1
99.4
100.0
102.7
106.6
109.9
112.9
116.6
129.2
149,3
163.6
169.7
180,7
194.9
217.9
248.9
271.3
280.9

1

334C. CHANGE :tN INDEX OF PRODUCER PRICES, FINISHE 3 CONSUMER GOODS, OVER 1-MONTH SPANS
(MONTHLY RATE, PERCENT)
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..

2.2
-0.7
0.0
1.8
-0.7
0.2
0.6
0.2
-0.1
0.1
0.3
-0.1
0.1
-0.2
0.4
-0.1
0.6
0.2
0.1
-0,2
-0.1
0.3
0.5
0.4
-0.3

-0.9
-1.2
0.4
1.7
0.0
-0,2
-0.6
0.2
0.2
0.4
0.0
-0.1
0.0
0.4
0.1
-0.2
-0.7
0.0
0.8
-0.2
0.6
-0,1
-0,2
0.5
0.4

2.8
0.3
-0.3
0.3
0.5
1.2
1.4
0.9
0.4

2,, 2
-0,3
-0,5
1,2
0.8
1.2
1., 7
1,0
O.,l

0.0

-o.;s
0.0
-0,2
0 1
-0.1
0.0
-0.4
0.6
-0.1
1.2
-0.3
1.0
-0.5
-0.3
-0.6
0,1
0.4

o.:s

-0.3
0.3
O.B
O.L
0.2
-0.1

O.B

-o.:t

0.0
1.0
0.5
0.9
1.0
.
1.1
-0.3

0.7
-0.5
0. 0
0.3
-0.3
-0.3
0.6
0.2
-0.1
0.2
-0.6
0.3
0.2
-0.5
-0.3
0.1
0.0
0.7
0.1
0.3
0.4
0.5
0.1
0.5
0.1
0.8
0.9
0.7
0.4
1.4
1.0
0.7
1.0
0.1

0.6
-0.5

0.5
-0.1

0.2
-0.2

0.3
-1.0

0.2
-0.2
0.2
0.1
-0.6
0.9
0.1
0.3
-0.2
-0.1 •
-0.5
0,0
0.5
-0,1
0.3
-0.4
0,1
0.1
0.9
-0.3
0.4
0.6

-0.3
-0.2
0.1
-0.6
0.7
0.4
0.4
-0.2
0.0
0.1
-0.1
-0.3
0.2
0.2
0.4
-0.5
0.8
0.3
0.6
0.3
0.4
0.5

-1.0
0.4
0.2
0.2
-1.0
-0.3
0.3

0.5

-0.2
-0.1
-0.1
-0.1
0.2
-0.1
0.2
-0.2
-0.3
-0.1
0.3
0.6
-0,2
0.0
0.2
1.3
0.3
0.1
0.2
-0.2
0.7
0.4

1,0
0.7
-0.1
0.7
0.6
0.5
0.4
0.2
-0.1

-0.5
0.9
0.2
0.1
1.0
0.7
0.9
0.5
1.1

2.7
1.0
0.2
0.4
0.8
1.1
1.8
0.3
0.5

1.7
1.0
0.2
0.6
0.1
1.2
1.2
0.0
0,4

-0.2
-0.3
0.3
0.2
0.0
0.0
0.1

-0.1
0.4

-0.1
0.3
0.1
0.1

-0.5

-0*5
-0,2

'

-0.5
-0.2

AVERAGE FOR PER1CQ
-0.8
-0.1

002
0*1
0=3
0,3
0.7
0.3
1.1
-0.2
0.7

0.5
-0.2
-0.4
-0.1
-0.2
0.2
0.4
-0.3
-1.0
0.7
-0.1
-0.8
0,1
0.0
0.4
-0.2
-0.1
0.2
0.7
-0,2
0.4
-0.4

0.1
-0.3
-0.4
0.2
0.2
0.4
0.4
-0.1
-0.4
0.2
0.1
0.1
0.1
-0.1
0.4
-0.3
0.2
0.1
0.8
0.4
0.4
0.7

0.9
0.7
0.2
0.3
1.0
2.0
0.4
0.5
0.1

1.8
0.8
0.7
0.4
0.7
1.1
0.7
0.4
0.5

2.0
0.4
0.8
0.8
0.7
1.5
0.7
0.2
0.6

0.1
-1.0
0.1
-0.1
0.1
0.2
0.4
0.0
0.3
-0.3
0.4
-0.3
-0,2
-0.1
0.8
-0.3
0.2
0.1
0.1
-0.2
0.7
1.0
0.8
-0.2
0.1
0.8
0.3
1.3
1.0
0.5
0.4
0.1

-0.1
-0*4
0.7
-0<,7
0,2
0.7
-0.2
0.1
1.2
0.0
-0.3
1.0
-Ool

334C. CHANGE 1N INDEX OF PRODUCER PRICES, FINISHED CONSUMER GOODS, OVER 6-MONTH SPANS 2
[
(COMPOUND ANNUAL RATE, PERCENT)
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,.

0.0
-0.5
1>6
-0.4
0.0
0.3
-0.2
-0.2
0.1
0.1
-0.1
0.2
0.1
0.1
0.5
-0,1
0.1
0.1
0.7
0.2
0.4
0.2
0.3
0.0
0.5
1. 2
1.8
0.9
0.2
0.4
0.6
1.4
1.1
0.3
0.3

-0.7
-0.3
1«2
0..2
-0.5
-0.2
0.0
0.0
Or 3
0,4
-0,1
-0.4
0.2
0.1
-0.3
0,0
-•Q.I
0. 5
-0, 3
0.1
0.1
0.5
0.0
0.5
0,4
0. 5

,1. I*
0.4
0.8

tt,$

0.9
1,2
O.fi
0.3
0.4

0.1
-0.5
0.8
0.2
-0.2
0,0
0.0
0.0
0.2
0.2
0.0
-0.1
0.2
-0.1
0.0
0.0
0.0
0.3
0.1
0.1
0.3
0.4
0.1
0.3
0.3
1,1
1.3
0.5
0.2
0.5
0.8
1.1
1.0
0.5
0.3

AVERAGE FOR PERICD

4.7

3.8

1.4

-1.4

-3.6

-5.6

-8.3

-7.9

8.4

3.6

-1.2

-7.3

7.6
1.3

10.9
-2.4

13.0
-2.2

14.0
-1.7

14.7
-1.9

1R.0
-1.1

17,4
-0.4

16.8
0.0

14.2
0.4

10.5
-1.1
"-Q, 9

15.6
-1.6
—2. 2

16.1
0.0

-0.2
0.2
0.7
3.9

-0.2
-0.4
-1.8

0.0
0.4
-1.8

1.6
-0.9
-0.5

1.4
-2.2
-1.3

0.0
-2.0
0.2

0.0
-1.1
-0.9

0.7
-1.1
0.9

-0.2
-0.4
0.9

-1.6
0.0
1.6

1.2
11.0
—2.0
-2!o
0.7
0.2

-3.3
-1.4

-1.8
-0.7

3,, 2
-0,,6
3,0
-3 .,3
0, 6
-1.3
-0,,6
3,, 2
3.5
-1,2
3.0
4, 3
0.6
3..S

1.9
-0.6
2,fc
-2.9
-0.8
-0.2
0.2
4.-I
0.8
1.0
3.2
5.3
0.9
4.6

0.9
-1.1
3.0
-2.1
-1.7
0.0
-0.8

0.4
-1.5
2.8
-2.3
-0.6
0.0
0.6

-1.7
1.3
0.9
-1.9
1.9
1.1
0.9

-1.1
-1.3
1.9
-1.1
0.9
1.1
0.9

-1.9
-1.7
2.6
0.2
1.1
0.2
0.9

-1.1
1,7
1.3
1.1
-0.6
0.2

-1.3
-0.2
0.6
1.7
0.9
0.6
0.4

-1.1
0.4
1.7
1.3
-0.8
-0.4
0.4

-1.7
0.0
0.6
1.3
-3.9
0.0
0.8

2.9
-0.5
2.7
-2.7
0.2
-1.2
-0.2

-0.1
-0.4
2.2
-2.1
-0.1
0.4
0.2

-1.5
-1.4
2.1
0.1
1.0
0.2
0.7

2.0

2. 5

1.2

-1.8

-3.0

3.2

2.1

2.L

4.0
4.8
0.2
2.7

3.0
5.4
0.2
3.3

3.8
5.0
2.2
2.5

2.1

3.1

3.6

3.2

5.4
1.6
2.1

5.3
2.9
2.1

4.4
2.0
2.8

5.1
2.6
3.2

2.5
4.3
3.9
2.7

-1,4
0.1
1.0
1.4
-1.3
0.1
0.5
R.2
-1.2
2.0
2.5

2.0
2.8

1.4
3.9

0.9
2.6

2.2
2.3

2.8
2.9

0.9
-4. 7
10.8
2.1
—2.2
-0^4
-0.5
-0.2
3.0
3.0
0.0
-0.6
2.0
-0.8
0.0
-0.1
0.3
3.8
1.5
1.5
3.1
4.7
1.8
3.0

2r8
15.6
18.2
2.1
-0.2
9.2
8,6
12, 7
13,0
9,. 7
0,,7

le!;;

13!o
14.9
5.9
1.1
7.8
10.7
11.0
13.7
8.2
2.5

2o!o

13^2
14.0
10.6
2.9
5.1
10.0
13.5
11.3
4.9
4.4

11.0
16.4
10.5
3.0
5.1
8.4
13.8
11.4
3.7
5.2

11.6
18.9
9.8
4.7
5.3
8.7
16.1
12.0
3.8
6.8

io!?
19.6
8.0
5.8
5.8
9.2
16.9
11.1
3.6
4.7

i?!g
14.0
5.3
6.1
6.2
10.2
17.6
9.1
3.8
0.8

13.1
9.4
2.3
8.3
6.7
12.7
18.6
8.6
4.0
0.1

15.9
6.9
1.0
9.9
7.1
12.6
16.3
10.1
2.1
-0.7

15.8
17.2
3.8
0.2
8.7
9.3
12.4
13.7
10.0
1.5

15.4
1.4*2
8.4
2.1
6.4
9.9
11.8
112.6
6.4
3.3

11.I
18.3
9.4
4,5
5.4
8.B
15.6
11.5
3.7
5.6

15.6
10.1
2. 9
H.I
t»,7
11.8
17.5
9.3
3.3
0.1

14^5
15.0
6.1
3.7
6.8
10.0
14.3
11.8
5.9
2.6

8.. 9
-7« 3
1.0
12.0

6.2
-6. 2
3.2
7.1

-3.5
0.4
0.7
1.8

-2,4
16
-0-9
3, 2

3.5
-0.4
2,4
-1.9
0.9
-2.1
-0.2
2.3
5.2
-2.0
3.2
2.7
2.fi
3.5
15.5
18.2
4.9
0,6
9.3
9.1
13.2
15.4
10.7
1.5

15.1
4.3
0.1
7.7
10,2
11.3
12.8
9.6
2.2

13.8
8.6
2.4
6.4
9.0
11.0
12.8
6.2
3.1

•

NOTE: Percent changes are centered w i t h i n the spans: 1-month changes are placed on the ?.d month and 6-month changes are placed
on the 4th month. Quarterly and annual figures are averages o f the centered changes.
'This series contains rcivistons b«y1nn1ng with 1978. 'This s e r i e s contains revisions beginning with 1977.




0. 4
0.1
-0,2
0.0
O.C
0.1
0,4
0.2
-0,2
0.0
0,1
-0.4
-0.2
0,3
0.0
0-5
-0.3
- 0.4
0.3
0.7
0.0
0,4
0-4
0»9
0.4
0.8
0.3
0.4
1.0
0,7
0.7
0,6
0.4

2.3

10.2
-7. 9
-0.7
13.8

104

0.6
-0.4

o!s

-,), a

-th4
-O.S
1.1

(APRIL 1983)

G. Experimental Data and Analyses
(Nov.)
T
Year

and
quarter

Implicit price
deflator, gross
nonfarm business
product1
(Index: 1977=100)

Unit labor cost,
all persons, nonfarm
business sector1
(Index: 1977=100)

(3)

1981
I Q....
II Q...
Ill Q..
IV Q...

136.5
138.9
142.3
145.5

rl39.1
141.9
145.1
149.0

(Nov.)
P

(Mar.)
T

III III

(Jan.) (July)
P T

TIT!

I I I | I I I | I I I I Ratio scale
160
150
140
130
120
110

Components of BCD series 2 6 Implicit price deflator, gross nonfarm
business product, Q
(index: 1977 = 100)

170
160

1982

150

I Q....
II Q...
Ill Q..
IV Q...

146.6
148.1
149.8
rl51.5

151.6
153.5
154.7
rl56.7

1983
pl53.4

I Q....
IIQ...
Ill Q..
IV Q...

140
130

Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)

120
110
100

pl57.2

90
80
70

ratios in 1972 dollars (ratio)
Inventory-sales ratios in 1972 dollars
Year
and
month

Manufacturing
(Ratio)

Merchant
wholesalers
(Ratio)

Arithmetic
scale

2

Retail trade

2.2
(Ratio)

2.1

1982
Jan....
Feb..
Mar..
Apr..
May..
June.

2.15
2.09
2.09
2.11
2.05
2.04

1.43
1.40
1.38
1.44
1.38
1.41

1.45
1.41
1.42
1.42
1.37
1.44

July.
Aug..
Sept.
Oct..
Nov..
Dec.

2.05
2.07
2.06
2.15
2.12
2.08

1.44
1.44
1.47
1.50
1.46
1.47

1.43
1.46
1.46
1.45
1.39
1.40

2.0
1.9
1.8
—I

1.5
1.4

1983
Jan..
Feb..
Mar..
Apr..
May..
June.

1.6

rl.99
pi.99
(NA)

rl.40
pi.43 .
(NA)

1.39
pi.42
(NA)

1.3
1.6
1.5

July.
Aug..
Sept.
Oct..
Nov..
Doc..

1.4
1.3

mlnilm
1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983

NOTE: Jhe V
indicates revised; "p", preliminary; and "NA", not available.
'Source: U.S. Department of Labor, Bureau of Labor Statistics.
'Source: U.S. Department of Commerce, Bureau of Economic Analysis.
3
See "New Features and Changes for This Issue," page iii.




15
0

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 unit of measure)

LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
5. Average weekly initial claims, State
unemployment insurance1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies receiving
slower deliveries (percent)
12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars) . . . . . .
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 dol., smoothed2 (ann. rate, bil. dol.) .
99. Change in sensitive materials prices,
smoothed2 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43=10)
106. Money supply (M2) in 1972 dollars
(billion dollars)
111. Change in credit—business and consumer
borrowing (annual rate, percent)
910. Composite index of 12 leading indicators3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars).
47. Industrial production, total
(index: 1967=100)
57. Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
77.
Ratio, constant-dollar inventories to sales,
manufacturing and trade (ratio)
62.
Labor cost per unit of output, manufacturingactual data as a percent of trend (percent)
109.
Average prime rate charged by banks
(percent)
101.

Commercial and industrial loans outstanding
in 1972 dollars ( m i l l i o n dollars)
Ratio, consumer installment credit to
personal income (percent)
Composite index of 6 lagging indicators 3
(index: 1967=100)

95.
930.

Dec.
1982

Net contribution to index

Feb.
1983

Jan.
1983

Mar.
1983

Dec.
to
Jan.
1983

Jan.
to
Feb.
1983

Feb.
to
Mar.
1983

38.9

39.8

r39.1

p39.6

0.71

-0.55

0.43

531

507

478

479

0.13

0.16

-0.01

28.21

31.22

r31.49

p30.23

0. 50

0.04

-0.22

38

41

42

50

0.12

0.04

0.35

rll5.3

pll6.6

-0.12

0.27

0.17

rl3.04

rll.80

rll.46

pl2.09

-0.22

-0.06

0.13

105.4

119.4

120.6

117.9

0.37

0.03

-0.07

r-21.97

r-27.17

p-21.21

N
A

-0.29

0.33

NA

-O. 50

-0.15

0.92

1.96

0.14

0.42

0.45

139.37

144.27

146.80

151.88

0.22

0.11

0.23

837.1

856.4

r875.0

p881.6

0.73

0.69

0.26

r-7.6

r5.9

2.0

p-4.9

0.71

-0.20

-0.39

rl45.6

rl47.6

pl49.8

3.19

1.37

88,565

r88,920

r88,735

p88,854

0.33

-0.17

0.14

1,063.2

rl,O65.5

1,065.6

pi,070.8

0.11

0.00

0.31

135.2

rl37.2

rl37.6

pl39.1

0.41

0.08

0.39

150,560

rl54,634

pl52,662

0.59

-0.28

132.1

rl33.8

rl33.1

pl34.0

1.29

-0.52

0.68

18.0

19.4

19.0

19.1

- 0 . 54

0.15

-0.06

1.73

rl.67

p i . 69

NA

-0.79

0.26

NA

r98.0

r97.3

r96.8

p95.5

-0.26

-0.18

-0.70

11. 50

11.16

10.98

10.50

-0.24

-0.13

-0.49

rl04,601

rlO5,874

rl05,102

plO5,622

0.32

-0.19

0.19

12.88

12.96

pl3.01

0.31

0.19

rll6.6

rll5.2

rll5.4

-1.20

0.17

N
A

N
A
pll4.2

1.49

N
A

N
A
-1.04

NOTE: The net contribution of an individual component i s that component's share in the composite movement of the group. I t
is computed by dividing the standardized and weighted change for the component by the sum of the weights f o r the available components and dividing that result by the index standardization factor. See the February 1983 issue of BUSINESS CONDITIONS DIGEST
(pp. 108-109) f o r the weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
1

This series i s inverted i n computing the composite index; i . e . , a decrease i n this series i s considered an upward movement.
This series i s a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Figures i n the net contribution columns are percent changes i n the index. The percent change i s equal (except f o r rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor f o r the leading index i s 0.139; f o r the coincident index, -0.175; f o r the lagging index, 0.018.
2

3

106



G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns

HOW TO READ RECESSION COMPARISON CHARTS

These charts show graphically, for selected indicators, the path of
the current business recession. To set the current movements in
historical perspective, cyclical paths over generally similar historical
periods also are shown. The selected periods are superimposed to
compare the current business recession with corresponding historical
patterns and to facilitate critical assessment of the amplitude, duration,
and severity of the indicators' current movements.

This number indicates the latest month (or
quarter) of data plotted. (1 = January)

The three-part code indicates the timing
classification of the series at peaks, at troughs,
and at all turns: LHeading; C = roughly
coincident; Lg=lagging; and U = unclassified.

1. In most cases, compar sons are based on reference peak levels
and reference peak dates.

Deviations
from
reference
peaks

2. The vertical line represents reference peak dates. The current
and historical periods are alined so that their reference peaks fall on
this line.

Actual
data
for
current
cycle

Percent

+5
3. The horizontal line represents the level of data at reference
peaks. The current and historical periods are alined so that their
reference peaks fall on this line.

• 1075

4. In most cases, deviations (percent or actual differences) from
the reference peak levels are computed and plotted. For series
measured in percent units (e.g., the unemployment rate), those units
(actual data) are plotted rather than deviations. The deviations (if
plotted) and actual data for the current period are shown in the tables
accompanying the charts.

• 1050

• 1025
5. For series that move counter to movements in general business
activity (e.g., the unemployment rate), an inverted scale is used; i.e.,
declines in data are plotted as upward movements, and increases in
data are plotted as downward movements.

• 1000
6. Several curves are shown in each chart. The heavy solid line
( « • • ) describes the current period. The dotted line ( • • • ) represents
the median pattern of the seven post-World War II cycles. The remaining
lines represent selected business; cycles; each line is labeled according
to the year of the reference peak.

7. These charts use the business cycle (reference) peak and
trough dates designated by the National Bureau of Economic Research,
Inc.

Peaks: Nov. 1948 (IVQ 1948), July 1953 (IIQ 1953), Aug. 1957
(IIIQ 1957), Apr. 1960 (IIQ 1960), Dec. 1969 (IVQ 1969), Nov. 1973
(IVQ 1973), Jan. 1980 (IQ 1980), July 1981.*

• 975

i i i i i I i i i i i I

0

+6

+12

Months from reference peaks

Troughs: Oct. 1949 (IVQ 1949), May 1954 (IIQ 1954), Apr. 1958
(IIQ 1958), Feb. 1961 (IQ 1961), Nov. 1970 (IVQ 1970), Mar. 1975 (10
1975), July 1980 (IIIQ 1980).

This scale measures time in months before ( - )
and after ( + ) reference peak dates.

This scale shows deviations (percent or actual
differences) from reference peak levels.

This scale shows actual series units and applies
only to the current business cycle (heavy solid
line).

*The NBER has not officially designated the latest reference peak quarter. However, for purposes of these charts, it is assumed that the third quarter of 1981 is the reference peak for quarterly series.




17
0

G. Experimental Data and Analyses—Continued

Recession Comparisons: Current and Selected Historical Patterns
[ Devi-

45. Average weekly insured unemployment
rate (inverted)
r • •

i

Actual

ations
from
reference
' peaks

data
for
current
cycle

MONTHS D E V I PROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
7/81
DATA YEAR

8
Actual

9
10
11
12
• 3.0

0*0
• 3.5
—

^

A

3\ A

+ 0.5

^

1981

•

-

4.0

+ 1.0
•

4.5

+ 15
•

5.0

+ 2.0

/

Median

/
j

]!
\ l

Y f
\ /

\ /

1973

1
1

• 5.5

+ 25
• 6.0
-

+ 30
• 6.5

|(

1/

+ 3-5
• 7.0

V

SERIES
4!>
PERCENT
1.1
4.3

+ 4.0

46. Help-war ted advertising

1.3
1.3
1.3
1.3

4.5
4.5
4.5
4.5

13
14
15
16

1.5
1.8
2.0
2.0

4.7
5.0
5.2
5.2

17
18
19
20

1.8
1.3
1.3
1.2

5.0
4.5
4.5
4.4

8
9
10
11
12
13
14
15
16

-10.8
-13.5
-15.2
-16.2
-16.7
-18.6
-20.4
-20.8

17
18
19
20

-19.9
-20.7
-22.5
-22.1

SERIES 4 6
1967=100
96

-28.5
-29.3
-30.9
-32.5

88
87
85
83

13
14
15
16

-36.6
-40,7
-38.2
-36.6

78
73
76
78.

• 120

17
18
19
20

-32.5
-32.5
-3 2.5
-32.5

83
83
83
83

U

IK\.,. /

-

-

-10

-20

• 110

• 100

• 90
-

-30

1981 W , /
MM

—

-40
• 70

V
1973
-

~6

0

+6

+12

-50

108

• 180

-8

3/82
4/82
5/82
6/82
7/82
8/82
9/82
10/82
11/82
12/82
1/83
2/83
3/83

• 160

-16
• 150

-20

• 140

77. Ratio, deflated inventories to sales,
mfg. and trade
Actual

• 1.90

+.20
• 1.85

+.15
• 1.30

+.10
• 1.75

9
10
11
12
13
14
15
16

0.09
0.04
0.06
0.07
0.09
0.09
0.13
0.09

1.75
1.70
1.72
1.73
1.75
1.75
1.79
1.75

0.07
0.01
0.03

1.73
1.67
1.69

.05

4/82
5/82
6/82
7/82
8/82
9/82
10/82
11/82
12/82
1/83
2/83

+18 +24

•no

-12

2/82
3/82

For an explanation of thes;e charts, see "How to Read Charts" on p. 107 of this issue.




• 190

-J—24

SERIES
77
RATIO
1.74
0.08
0.07
1.73

Months from reference peaks

NOTE:

+4

-4

17
18
19

• 80

for
current
cycle

+8

MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
AND
FROM ACTUAL
PEAK
DATA YEAR
7/81

7
8

Actual
data

Percent

MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
AND
FROM ACTUAL
PEAK
DATA YEAR
7/81

9
10
11
12

n

Deviat ions
from
reference
peaks

3/82
4/82
5/82
6/82
7/82
8/82
9/82
10/82
11/82
12/82
1/83
2/83
3/83

3/82
164.9 4/82
159.9
5/82
156.7 6/82
154.9 7/82
153.9 8/82
150.5 9/82
147,1 10/82
146.4 11/82
148.1 12/82
146.5 1/83
143.3 2/83
143.9
3/83

-22.0

+ 10

76. Industrial production, business
equipment

SERIES 76
1967«100
-8.5
169,0 '

• 130

-

1

MONTHS D E V I PROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
7/81
DATA YEAR

8
Percent

T

.00

-.05

. 1 . . M i l . M i l l . IXllil
-6

0

+6

+12 +18 +24

Months from reference peaks

1.70

• 1.65

G. Experimental Data and Analyses—Continued

Recession Comparisons: Current and Selected Historical Patterns-Continued
|
30. Change in business inventories,
1972 dollars

" ' " I

QRTRS.
FROM
REF.
PEAK

Actual
data

xn

-1

CURRENT QRTR.
ACTUAL
AND
DATA YEAR
SERIES 3 0
ANN. RATE
BIL.
DOL.
12.1

0

|«<«M|MM«|

|MM

Deviations
from
reference
peaks

910. Composite index of 12 leading
indicators

Actual
data
for
current
cycle

11/81

16.5 111/81
4.8
IV/81
-15.4
1/82
-4.4 11/82
3.4 111/82
-20.3
-12.4

Percent

IV/82
I/R3

+ 15
• 160

DEVIMONTHS
FROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REF.
YEAR
DATA
7/81
PEAK
SERIES

+ 10

910

1967=100
8

- 5 . 7 134.7

3/82

9
10
11
12

-4.8
-4.7
-5.0
-4.4

136.0
136.2
135.8
136.6

13
14
15
16

-4.6
-3.'4
-2.7
-2.3

+5

4/82
5/82
6/82
7/82

136.3 8/82
138.0
9/82
139.1 10/82
139.6 11/82

140

•

17 - 1 . 3
18 1.9
19 3.3
20 4 . 8

•

130

-5
141.1
145.6
147.6
149.8

12/82
1/83
2/83
3/83

-10
1973
QRTRS.
DEVIFROM ATIONS CURRENT QRTR.
REF.
FROM ACTUAL
AND
PEAK 111/81
DATA
YEAR
SERIES 5 0
ANN. RATE
BIL.
DOL.
-0.5 1502.2 11/81

50. GNP, in 1972 dollars

[c£c]

-1
•

1650

0

0. P

1510.4 111/81

1
2
3
4
•
••-

Median^

1600

+ 5

•

1550

-1.3
-2.6
-2.1
-1.9
-2.2
-1.4

1477.2
1488.5

• 120

- I -20

920. Composite index of 4 coincident
indicators

1490.1 IV/81
1470.7
1/82
1478.4 11/82
1481.1 111/82

5
6

-15

srcent

IV/82
1/83

+ 5
•

MONTHS
DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
7/81
DATA YEAR

0

150

•

145

SERIES 920
1967=100
8

•
1973

I
-6

I
0

I

I

+ 6 +12 +18

I.
+24

-5

-5.7

139.2

-6.5
-6.0
-7.0
-7.7

138.0
138.8
137.2
136.3

4/82
5/82
6/82
7/82

1500

1450

13
14
15
16

-8.4
-9.0
-10.4
-10.4

135.2
134.3
132.2
132.3

17
18
19
20

-10.5
-9.3
-9.8
-9.2

132.1
133.8
133.1
134.0

12/82
1/83
2/83
3/83

muo

•

135

-10

8/82
9/82
10/82
11/82

Months from reference peaks

NOTE:

-5

3/82

9
10
11
12

•

-15
. . . , ! . .

-6

..I.....Inmill.ii

0

+ 6 + 1 2 +18

>125

ii

+24

Months from reference peaks

For an explanation of these charts, see "How to Read Charts" on p. 107 of this issue.




109

ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

Accession rate, manufacturing
,
Agricultural products, exports
Anticipations and intentions
Business expend tures, new plant and equipment . . .
Business expend tures, new plant and equipment, 1)1
Consumer sentinent, index
Employees, manufacturing and trade, Dl
Inventories, manufacturing and trade, Dl . . . . . , „ . .
New orders, manufacturing, 01 .,.,
,
Prices, selling, manufacturing, 01
,..
Prices, selling, retail trade, 01
Prices, selling, wholesale trade, Dl
Profits, net, marufacturing and trade, 01
Sales, net, manufacturing and trade, 01
Automobiles
Expenditures, pitrsorial consumption
Imports of automobiles and parts

Balance of payments-See International transactions,
Bank loans to businesses, loans outstanding
Bank loans to businesses, net change « . . ,
Bank rates-See Interest rates.
Bank reserves
Free reserves
Member bank burrowing from Federal Reserve
Bonds-See Interest rates.
Borrowing-See Credit,
Budget-See Government.
Building-See Construction,
Building permits, raw private housing
Business equipment, industrial production
Business expenditi res, now plant and equipment
Business expenditi res, n«w plant end equipment, 01 .
Business failures, current liabilities
Business formatior
Business incorporations
Business inventorins—See Inventories.
Business loans-Son Bank loans.
Business saving

Canada-See International comparisons.
Capacity utilization
Manufacturing (B6A)
Manufacturing (FRB)
Materials
Capital appropriat ens, manufacturing
Backlog
..,.
Newly approve:
\,.....,
Newly approver ,01
Capital investment-Sea Investment, capital.
Capital investmeni commitments, Cl
,
Cash flow, corporate, constant dollars.Cash flow, corporate, current dollars
Civilian labor forai-See also Employment.
Employment
Employment as percent of population
Total
Unemployed
,.,,
Coincident indicators, four
Composite index
Composite index, rate of change
Diffusion index
Ratio to lagging indicators, composite index
Commercial and industrial buildings, contracts awarded .,
Commercial and industrial loans outstanding
Commercial and industrial loans outstanding net change .
Compensation
Compensation, average hourly, all employees,
nonfarm busiress sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changcis
,
Compensation (if employees
Compensation of employees, pBrctmt of national
income
Compensation, real average hourly, all employees,,
nonfarm business sector
,
Compensation, real average hourly, all employees,
nonferm busir ess sector, percent changas
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production woikers,
private nonfarm economy, percent charges
Earnings, reel average hourly, production
workers, private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes „
Wage andteneflt decisions, first year
Wage and benef it decisions, life of contract
Wages and salaries, mining, manufacturing, and
construction

Current issue
(page numbers)

Series
number

Charts

Tables

Historical
Series
description;
data
(issue date]
(*)

2
604

16
56

61
92

8/81
1/83 «

18
64

6
1
970
58
974
975
91
7
976
978
977
972
973

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
12/82
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

55
616

22
56

65
92

9/82
1/83

50
64

15,35
32

73
72

2/83
3/8?

43
A3

33
33

72
112

72
72

1/82
1/82

45
45

6/82

35
24
34
34
44
32
32

29
76
61
970
14
12
13

13,25
24
24
38
33
12,23
23

67
67
67
76
72
65
65

295

46

82

11/82

83
82
84

20
20
20

64
64
64

12/82
12/82
12/82

25
25
25

97
11
965

24
24
37

66
66
75

1/83
1/83
1/83

33
33
33

914
35
.34

11
29
29

60
70
70

2/83
8/82
8/82

51
18
51
18,51

89
62
89
62,89

3/83
3/83
3/83
3/83

20
20
20
20

920

10
39
36
11
23
15,35
32

60

2/83
11/81
2/83
2/83
3/82
2/83
3/82

15
15'
15
32
43
43

Composite indexes
Coincident indicators
Four coincides
Four coincides, 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
'.
Twalve leaders
T waive 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 G NP
Residential, total, constant dollars
Housing starts
Consumgr finished goods-See Wholesale prices.
Consumer goods and materials, new orders
Ccnsumar goods, industrial production
Crasumir installment debt
Debt outstanding
Not change
Ratio to personal income
Ccnsumsr installment loans, delinquency rate
Censumsr prices-See also International comparisons.
All items, index
;
All items, percent changes
Food,index
Food, percent changes
Consumsr 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 Prim indexes.
Crodit
Bank loans to businesses, net change
Borrowing, total private
Commercial and industrial loans outstanding
Consumer installment debt
Debt outstanding
Wet change
Ratio to personal income
Consumer installment loans, delinquency rate , . . . . , ,
Mortgage debt, net change
Crude materials-See Wholesale prices.

Current iss>ie
nurnbure)

Stiries
number

Charts

920
920c

zm
11/81
2/83

930
930c

]0
39




1783

V81

914
915
913
917
916
910

2/83
2/83
2/83
2/83
2/83
2/83

910c jj 39

11/81

29
9
69

13,25
23
24

6/82
3/82
9/82

248
87

47
25
25
47
2%
25

0/82
9/82
9/82
10/82
9/82
3/82

8
75

li/82
12/82

66
113
95
39

3b
32

320
320c
322
322c
58

49
49»59
49
49
22

20
10
116

12,23
23
34

8/82
8/82
2/82

112
110
72

32
15,35

H/82
3/83

86
113
95
39
33

35
32
15,35
33
32

4/83
1/83
1/83
2/82
V32

15,35
33

920c
951
940

9
72
112

74"
60
66
73
72

12/82

6/82
6/82
12/81
2/83
3/82

345

49

87

11/82

56

345c
280

50
45

87
82

11/82
10/82

56
56

64

30,47

70,83

10/82

56

346

49

88

11/82

56

346c

50

88

11/82

56

340

49

87

6/82

15

340c

50

87

6/82

15

341

49

87

7/82

15

341c
348
349

50
50
50

87
88
88

7/82
8/81
8/81

15
62
62

19

63

9/82

22

Dubt-Sae Credit.
Defense
Military prime contract awards
National defense purchases
Nsw orders, defense products
Obligations incurred
Deficit-See Government.
Deflators—See Price indexes.
Delinquency rate, consumer installment loans
Delivers, 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
Logging indicators
Leading indicators
New orders, durable goods industries
Nsw 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,

73
12
72

n

4/83
4/83
4/83
2/82

84,95
84,95
84
84

3/83
3/83
3/83

;i/83
12/82

V82

4/83
11/82
12/82
7/82
33
12,21

£151
JI74
£163
£167

2/82
2/82

38
37
36
38
36
37

6/82
1/83
2/83
1/82
7/82
1/82
7/82

!I62
JI75
!I52
£150
1164

1/82
1/82
2/83
2/83
3/82

£171

1/82
2/82
1/82
1/82
782
12/82
1/82
1/82
7/82

!I68
!)76
1178
IJ77
<I6O
!)72
1)73

NOTE: CI, composite Index; Dl, diffusion Index; GPDI, gross private domestic Investment; NIPA, national income and product accounts.
*The numbtsr shown Indicates; the page on which the series description appears in the HANDBOOK OF,CYCLICAL INDICATORS (1977).

110

Historical
Series
descriptions
data
(tesua dBi:e)
{*)

15
37
37

442
90
441
37

Series titles
(See complete titles in "Titles and Sources of
Series," following this Index)

ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
•!See complete titles in "Titles and Sources of
Series," following this index)

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, 01
.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, 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Perscns 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, 15 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, 0 1 . . '.
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.

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
t
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 do!., NIPA
Net Exports, goods and services, current dol., NIPA . . .
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves .\

Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts *.
Federal surplus or deficit
State and 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 G NP
Total, constant dollars
Total, current dollars

Current issue
(page numbers)

Series
number

Series
descriptions
(*)

2
441

16
51

61
89

8/81
3/83
15

17

11/82
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

n

16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16

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

11/82
7/82
1/82
7/82
7/82
3/83
3/83
7/82
3/83
2/82
1/82
8/81
2/83 ,
7/82
3/83
3/83
3/83
3/83
3/83
8/81
3/83
3/83
3/83
3/83
3/83
3/83
3/83
3/83
3/83
7/82
7/82

72

2/82

33
40
11

72
80
60

1/82
10/82
2/83

311
311c

48
48

84
84

11/82
11/82

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

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
1/83
10/82
10/82
8/82
1/83
8/82
5/82
1/83
10/82
10/82
8/82
1/83
10/82
10/82
10/82

93

33

119
94
213
917

44

44
57
56
44
44
47

1/82

20

63

8/82

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
11/82

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

11/82
11/82
11/82
11/82
11/82
11/82
11/82
11/82
11/82

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

Charts

Series
Historical
data
descriptions
(issue date)
(*)

311
311c
68

48
48
30

84
84
70

11/82
11/82
9/82

58
59
39

50
50b
50c
200
200b
200c
107
49
310
310c
217

19,40

63,80
80
80
80
71
63
84
84
80

8/82
8/82
8/82
8/82
8/82
8/82
8/82
8/82
11/82'
U/8Z
10/82

49
49
49
49
49
49
40
25
49
49
49

17
17

61
61

7/82
3/83

19
19

16
12,16

7/82
7/82

15
15

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

36

61
61
77
74

25
13,25
25
47

67
67
67
83

3/82
6/82
9/82
10/82

51
51

310
310c

48
48

84
84

11/82
11/82

49
49

345

49

87

11/82

56

345c
280
64

50
45
30,47

87
82
70,83

11/82
10/82
10/82

56
56
56

346

49

11/82

56

50
15,35
45
47
40
40
40

88
73
82
83
80
80
80

11/82
4/83
10/82
10/82
10/82
10/82

56
43
37
37
22
22
22

49

87

7/82
35
35

I
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 IVA and 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 d o l . . .
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 U.S
. Income on U.S. investments abroad
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
industrial materials prices, components
Industrial materials prices, Dl
Industrial production - See alsn International comparisons.
Business equipment
Consumer goods
Durable manufactures
'.'..........
Nondurable manufactures
Total
Total, components
.'
Total, 01
Total, rate of change
Installment debt-See Credit.
Insured unemployment
Avg. weekly initial claims, unemploy. insurance
Avg. weekly initial claims, unemploy. insurance, Dl
Avg. weekly insured unemployment rate

346c
95
286
287
225 '
224
227
340

50

87

49

87

50
57
57
45
47
45
19
40
14,19
39
31
45

87
93
93
82
83
82
63
63
63

47
45
47
50
50
19
23
28

83
82
83

340c
341
341c
652
651
288
289
220
52
223
51
51c
108
282
283
284
285
348
349
53
13
23

37
24
22
20
20
14,20,58

5
962
45

12,16
36
18

71*
82

63 '
65
69
79
75
67
65
63
63
63,94
78
75

.61
74
62

10/82
6/82
6/82

15

7/82
7/82
8/82
8/82
10/82
10/82
10/82
9/82
9/82
9/82
9/82
4/83
10/82

65
65
57
57
55
22
22
22

10/82
10/82
10/82
8/81
8/81
9/82
3/82
1/82

56
57
57
62
62
22
32
36

1/82

36*

12/82
12/82
12/82
12/82
12/82

24
24
24
24
24

15

40*
56

7/82
12/82
2/82
1/82
3/83

18
18
18

NOTE: C l , composite index; D l , d i f f u s i o n index; GPDI, gross p r i v a t e domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series d e s c r i p t i o n appears i n the HANDBOOK OF CYCLICAL INDICATORS (1977).




111

ALPHABETICAL INDEX- SERIES FINDING GUIDE-Continued
Series titles
(SQO complete titles in "Titles and Sources of
Series/' following this index)

Interest, net
Interest, not, percent of national income
Interest rates
Bank rates on shor.-torm business loans
Corporate bond y i u l d s . ,
Federal funds rate
Mortgage yields, sesondary market
Municipal bond yit Ids
„
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
Intermediate materia s-See Wholesale prices.
International comparisons
Consumer prices
Canada, index
Canada, percent changes
France, index
France, percent change
Italy, index
Italy, percent changes
Japan, index
„
Japan, percent t henges
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 transat;tions~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 agricu tural products
Exports of goads and services, exc. military . . . , . , . , . .
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
,
Imports, merchandise, total
Imports of autorrobilesand parts
„
Imports of goods and services, total
Imports of petroljum and products
Income on 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 GMP
Finished goods, Manufacturers'
,
Inventories on hand and on order, net change
Inventories to sal'ss ratio, mfg. and trade (deflated)...
Inventory tnvestnent and purchasing, Cl
..........
Manufacturing ard trade, constant dollars,
.......
Manufacturing ard trade, current dollars
Manufacturing ar d trade, current dollars, chang-3 . . . . .
Manufacturing ard trade, 01
Materials and supplies on hand and an ordur, rnt:rj
Materials and supplies en hand and on ordur, nrrg.,
change
Investment, capital
Capital appropriations, manufacturing, backlog . .
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl . .
Capital investment commitments, C L .
Construction cor tracts, commercial and industrial
Construction exf enditures, business end machinery
and equipment sales
Gross private domestic investment
Fixed investment, constant dollars
Fixed investment, current dollars
Inventories, business, change in-See Inventories.
Nonresidentia , total constant dollars
Nonresidentia , total, percent of GNP
Producers' durable equip., nonresid., constant dol. . .
Residential, tctal, constant dollars
Residential, total, percent of GNP
Structures, nonresidantial, constant dollars
Total, constart dollars
Total, current dollars
New orders, capital goods, nondefense, constant
dollars
New orders, cap.tal goods, nondefense, current
dollars

Current issue
(page numbers}

Series
number

Charts

Tables

Historical
Series
data
descriptions
(issue date)

(*)

288
289

10/82
10/82

17
3
116
119
118
117
109
114
115

12/82
2/82
2/82
2/82
2/82
2/82
2/82
2/82

Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

Plant and equipment
flysiness expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars.
Contracts and orders, current dollars..
Invastment, foreign
Income on foreign investments in U.S. . .
Income on U.S. investments abroad
Italy-See International comparisons.

Current issue
(pager umbers*

Sen EIS
number

Tables

61
970
20
10

24




(*)

6/32
«/32
K/32
tt/82

12,23

«/82
651

Japan-See International comparisons.
733
733c
736
736c
737
737c
738
738c
732
732c
320
320c
735
735c

59
59**
59"
59*'
59
49
49,59
59*

96
96
95
95
96
96
95
95
95
95
84,95
84,95
95
95

94
94
94
94
94
94
14,20,58 63,94
94
58

4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
3/83
3/83
4/82
4/82

68
68
68
68
69
69
69
69
68
68
59
59
68
68
66
66
66
66
66
66
24
66

65
65
65
64
64
65
64
65
64
64
65
64
65
65

723
726
727
728
721
722
47
725

58
58
58
58
58
58

743
746
747
748
742
19
745

59
59
59
59
59
59
59

96
96
96
96
96
96
96

1/83
1/83
1/83
1/83
1/83
1/83
12/82
1/83
12/82
12/82
12/82
12/82
12/82
12/82
12/82

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
1/83
8/82
1/83
8/82
5/82
1/83
8/82
1/83
8/82
8/82

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

10/82
10/82'
10/82
9/82
8/82
1/83
2/83
9/82
9/82
9/82
1/82
9/82

28
28
28
15
28
28
28
48
28

26

68

9/82

28

24
24
37
11
23

66
66
75
60
66

1/83
1/83
1/83
2/83
3/82

33
33
33
15
32

24

67

9/82

42
42

81
81

10/82
10/82

86
248

25
47
25
25
47
25
42
42

67
83
67
67
83
67
81
81

9/82
10/82

23

66

23

66

3D
15,30
30

930
930c
95;1
3
91 (t
91(lc

9/32
JV8S
1.1 /82
10/82

10
3'9
3-6

J-733
'WB1
IV33

16

11/31

10
39
36
33
13,31

15

2/513
11/81
2/fl3

28

243
242

L
Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
Laber cost per unit of output, private business sector...
Labcr cost, price per unit of, nonfarm business
Labcr force-See Employment and unemployment.
La^jrjinij indicators, six
Composite index
,.'.,'.
Composite index, rate of change . . , . . ' , J . . , . . . . " . . .
Diffusion index
......'.,.
Layoff ratg, manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change
Diffusion index
..:...
Liabilities of business failures
Liquid asssts, change in total
Loans—Ses Credit.

622
618
602

70
70
70
70
70
36
70

m)
14
104

12/81
4/H3

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
Mongy supply
Liquid assets, changB i* total
Money supply Ml
Money supply M l , percent changes
,
Money supply M2
...........;..;.;
Money supply M2, percent changes
i...
Ratio, GNP to money supply Ml
Ratio personal income to money supply M2 . . . .
Mortgage debt, net change
;
Moftags yields secondary market
Municipal bond yields

1733
9/32

913
78

68

2a

!»/32

28

a/82

917
104
105
85
106
102
107
108
33
118
117

31
31
13,31
31
31
31
32
34
34

•1/83
•1/83
•1/83
•1/83
4/33
ii/32
4/33
V82
;!3

40
40
40
40
40
40
40
42
46
46

N

97
11
965
914
9

249
87
241
240

9/82
9/82
10/82

9/82
10/82
10/82
8/82
8/82

National defense-See Defense.
National Government-See Government.
National ncome-See Income.
Nsw orders, manufacturers'
Capital goods industries, nondefense, constant d o l . . .
Capital goods industries, nondefense, current d o l . . . .
Consumer goods and materials, constant dollars
Contracts and orders, plant and equip., constant dol.
Contracts and orders, plant and equip., current dol. .
Defense products
Durable goods industries, constant dollars
Durable goods industries, current dollars
Components
Diffusion index
New orders, manufacturing, DI
Nd-nresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
Total, constant dollars
Total, percent of GNP

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
i.abor 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 IFRB)
Ratio to capacity, materials
Overtime hours, production workers, manufacturing . .

23

n
10
548
7
6

12,21
12,23
23
53

8/82
26
B/82
26
8/82
26
8/82
32
a/82
32
12/82 . 26
8/82
26
8/82
26
fi/82
1/82

26
48

S/82
9/82
9/82
248

10/82

51
51
51

517
721

f/32
1/83

66

9(4
971

4!)
62
3!i8
370
370c
83

15,30
&
Q
EO
s
50

NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates trie page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).

12
1

Series
data
descriptions
(Isiuitriate]

8/82
K/83
12/82
11/82
11/82
12/82
12/82
12/82
7/82

ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

Participation rates, civilian labor force
Both sexes, 16-19 years of age
.
females 20 years and over
Males 20 years and over
;
Personal consumption expenditures
Automobiles
Durable goods, constant dollars
DurablB 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 stiving . . ;
Personal saving rate
•...
'.
Petroleum and products, imports
Plant and uquipment-See also Investment, capital.
Business expenditures for
Businessexpenditues for, 01
Contracts and orders for, constant dollars
Contracts and orders for, current dollars
Population, civilian employment as percent of
.'.'..
Price indexes
Consurrer prices-See also International comparisons.
All items, index
All items, percent changes
Food,index
Food, percent changes
,
Deflators, NI PA
."
Fixed weighted, gross business product, index
Fixed weighted, gross business product, pet. changes
Implicit price deflator, GNP, index
Implicit price deflator, GfclP, percent changes
Industrial materials
;
Industrial materials, components
.
Industrial materials, Dl-....'
Labor cost, price per unit of
." —
Sensitive prices, change in
Stock pices-See also International comparisons.
500 common stocks
500 common stocks, DI
;
Wholesale prices
All commodities, index
All commodities, percent change
Consumer finished goods, index
.
Consumer finished goods, percent changes
Crudu materials, index
Crudn materials, percent changes
Intermediate materials, index
Intermediate materials, percent changes ......
—
Producer finished goods, index
Producer finished goods, percent changes — . . . . .
Price to unit labor cost, nonfarm business
;
Prices, selling
Manufacturing, Dl
Retail trade, Dl
.......: —
Wholesale trade, Dl
...:.
Prime contracts, military
Prime rate charged by banks
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDI
ProductiOfi—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 IVA and CCA,
constant dollar
Corporate, after taxes, with IVA and CCA, cur. dol
Corporate, with IVA and CCA
Corporate, with IVA 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 IVA and CCA to corporate domestic
incomu . . . . . . . . . . .
'.
.'•'.
Proprietors' income with IVA and CCA
Proprietors' income with IVA and CCA, pet. of nat'l. inc..

Tables

Historical
Series
data
description:
(issue date)

(*)

453
452
451

51
51
51

55
233
232
238
236
239
237
231
230
235

22
41
41
41
41
41
41
41
41
47

10/82
10/82
10/82
10/82
10/82
10/82
10/82
10/82
10/82

46
46
56

11/82
11/82
1/83

61
970
20
10
90

24
38
12,23
23
18

6/82
6/82
8/82
8/82
3/83

320
320c
322
322c

49
49,59
49
49

84,95
84,95
84
84

3/83
3/83
3/83
3/83

59
59
59
59

311
311c
310
310c
23

48
48
48
48
28

11/82
11/82
11/82
11/82
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
10/82
3/82

60

19
968

13,28
37

69
75

330
330c
334
334c
331
331c
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

976
978
977
525
109

38
38
38
53
35

76
76
76
90
73

1/82
1/82
1/82

25

67

9/82

7/82
2/82
5/82
5/82
4/83
4/83
4/83
4/83
4/83
4/83
4/83
4/83
10/82

4/83
2/82

36
36
59
59
60
60
60
60
60
60
60
60

48
49
48
64
46

353
370
370c
916

50

50
50
11

n/82
n/82
2/83

61
61
61
15

18
16

28
28

9/82
9/82

37
37

80
79
286
287
972
960
15
916

28
28
45
47
38
37
29
11
29

9/82

37
37
37
37
48

12/82

9/82

10/82
10/82
1/82

12/82
6/82
2/83

9/82

38"
15
37

29
45
47

9/82
10/82
10/82

37
56
56

16

81
282
283

Current issue
(page numbers)

Series
number

Charts

Tables

Series
Historical
data
Ascriptions
(issue date)

(*)

93
89
249

1/82
9/82

59
54

11/82
11/82

10/82

9/82

292
293
614

22

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

3/83
3/83
3/83

Quit rate, manufacturing .

Rental incame of persons, with CCA
Rental income of persons, with CCA, percent of national
income

Current issue
(page numbers)

Series
number

8/81

18

284

10/82

57

285

10/82

57

Salaries-See Compensation.
Sales
Final sales, constant dollars
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales, current dollars
Manufacturing and trade sales, Dl
Ratio, inventories to sales, mfg. and trade .Retail sales, constant dollars
Retail sales, current dollars
Saving
Business saving
Government surplus or deficit
Gross saving, private and government
Personal saving
Personal saving rate
Selling prices-See Prices, selling.
Sensitive prices, change in
State and local government-See Government.
Stock prices-See also International comparisons,
500 common stocks
500 common stocks, DI
Stocks of materialsand supplies on hand and on order .
Stocks of materials and supplies on hand and on order,
change
Surplus-See Government.

213

40

10/82

49

9/S2

57
56
973
77
59
54

24
14,22
22
38
27
22
22 .

11/82
11/82

28
28
28
48
28
31
31

295
298
290
292
293

46
46
46
46
46

11/82
11/82
11/82
11/82
11/82

37
58
58
58
58

13,28

3/82

60

13,28
37
27

7/82
2/82
9/82

36
36
28

26

9/82

28

2/82
2/82

46
46

114
115

Treasury bill rate
Treasury bond yields.

11/82
n/82
1/82
1/83

U
Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio . . .
Initial claims, avg. weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, 01 .
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
15 weeks and over
Insured, average weekly
Total
Unfilled orders, manufacturers'
Durable goods industries
Ourable goods industries, change in —
United Kingdom-See International comparisons.

Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio .
Vendor performance

5
962
3

15,18
17
12,16
36
16

3/83
3/83
2/82
1/82
8/81

20
19
18
18
18

446
445
447
444
37
4

51
51
51
51
18,51
16

3/83
3/83
3/83
3/83
3/83
8/81

20
20
20
20
20
18

44
45
43

18
18
18

3/83
3/83
3/83

20
18
20

96
25

21
21

11/82
9/82

26
26

107
108
32

31
31
12,21

8/82
4/83
2/82

40
40
28

330
330c
334
334c
331
331c
332
332c
333
333c
92
1

48
48
48
48
48
48
48
48
48
48
13,28
12,16

5/82
5/82
4/83
4/83
4/83
4/83
4/83
4/83
4/83
4/83
3/82
7/82

59
59
60
60
60
60
60
60
60
60
60
15

36

7/82

15

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 materiafs, 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, D I .

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).




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
referred to by numter:
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)

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 &
Brad street, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)

I-A. Composite Indexes

14. Current liabilities of business failures (M).-Dun &
Bradstreet, Inc.
(33,72)

910. Composite indttx of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 99,106, 111)
(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 Analysts
(29,70)

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, 99) (M). -Source
1
•
(11,60)
916. Composite tndox of profitability (includes series 19, 26,
80) (M).-Source 1
(11,60)

18. Corporate profits after taxes in 1972 dollars ( Q ) . Source 1
(28,69)

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 Mousing 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)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
.
(18,51,62,89)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).-Source 2
(26,68)
39. Percent of consumer installment loans delinquent 30
days and over ( E O M ) . - A m e r i c a n Bankers
Association
(33,72)
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 nonajricultural 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).-Scurces2 and 3
(18,62)

917. Composite index of money and financial flown (includes
series 104, 105, 111) (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 ind;x 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, 77, 91, 95, 101, 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 off 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 nonagricultural establishments
(M).-Source 3
(17,39,61)
49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)

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
insurance, State programs (M) t —U.S.
Labor, Emplcyment and Training
seasonal adjustment by Bureau
Analysis

unemployment
Department of
Administration;
of Economic
(12,16,61)

6. Value of marufacturers' now orders, durable goods
industries, in current dollars (M).—Source 2(21,64,77)
7. Value of marufacturers' 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 (Mi,-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)

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 oif 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. Riitio, 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)
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)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars ( Q ) . Source 1
(25,67)

119. Federal funds rate (M).-Source 4

(34,72)

1-C. Diffusion Indexes
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
951. Diffusion index of four roughly coincident indicator
components (M).-Source 1
(36,74)

62. Index of labor cost per unit of output, total
manufacturing—ratio, 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)

89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)

952. Diffusion index of six lagging indicator components
(M).-Source 1
'
(36,74)

90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)

63. Index of unit labor cost, private business sector ( Q ) . Source 3
(30,70)

91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)

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)

93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)

961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).-Sources 1
and 3
(36,74.77)

64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).—Source
2
(27,68)

94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)

66. Consumer instalment credit (EOM).—Source 4

95. Ratio, consumer installment credit to personal income
(EOM).-Sources 1 and 4 .
(15,35,73)

(35,73)

67. Bank rates on short-term business loans (Q).-Source
4
(35,73)
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)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).-Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(liOM).-$ources 1, 2, and 3
(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 in current
dollars (M).-Sources 1 and 4
(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
(15,27,68)
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
(Q).-Source 1
(28,69)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
(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)
82. Rate of capacity utilization, manufacturing (Q).-Source

,4

(20,64)

83. Rate of capacity utilization, manufacturing (EOQ).Source 1
(20,64)
84. Rate of capacity utilization, materials (Q).-Source
4
(20,64)
85. Change in money supply Ml (M).-Source 4




(31,71)

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)

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
nonagriculturat payrolls—172-186 industries (M).—
Source 3
(36,74)

(13,28,69)

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) - T h e Conference Board
(37,75)

101. Commercial and industrial loans outstanding in 1972
dollars (M).-Sources 1, 3, and 4
(15,35,73)

966. Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)

102. Change in money supply M2 (M).-Source 4 (31,71)

967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).-Sources 1, 3, and
Commodity Research Bureau, Inc.
(35,75,79)

98. Change in producer prices for 28 sensitive crude and
intermediate materials (M).—Sources 1 and 3 (28,69)
99. Change in sensitive materials prices (smoothed) ( M ) . Sources 1, 3, and Commodity Research Bureau, Inc.

104. Change in total liquid assets (smoothed) (M).-Sources
1 and 4
(31,71)
105. Money supply Ml in 1972 dollars (M).-Sources 1,3,
and 4
(31,71)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
107. Ratio, gross national product to money supply M l
(Q).-Sources 1 and 4
(31,71)
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)
111. Change in credit outstanding (business and consumer
borrowing) (M).—Sources 1, 4, and Federal Home
Loan Bank Board
(13,32,72)
112. Net change in business loans (M).—Sources 1 and 4
(32,72)
113. Net change in consumer installment credit (M).-Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
115. Yield on long-term Treasury bonds ( M ) . - U . S .
Department of the Treasury
(34,73)
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)

968. Diffusion index of stock prices, 500 common stocks—
49-82 industries (M).—Standard & Poor's Corporation
(37,75)
970. Diffusion index of business expenditures for new plant
and equipment, total—22 industries (Q).—Source
1
(38,76)
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. (Use'd 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 businessman reporting (Q).-Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from Ihe 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)

Il-A. National Income and Product
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 gros; national product in 1972 dollars ( Q ) . Sources 1 and 2
(40,80)
220. National incone in current dollars (Q).—Source
1
(45,82)
223. Personal income in current dollars (M).—Source
1
(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 i and 2
(40,80)
230. Personal consumption expenditures, total, in current
dollars (Q).—Snurce 1
(41,80)
231. Personal consumption expenditure;;, total, in 1972 dollars (Q).-Sour;e 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)

247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).—Source 1
(47,83)

292. Personal saving (Q).—Source t

248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).-Source
1
(47,83)

295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).-Source
1
(46,82)

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)
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)
263. Federal Government purchases of goods and services in
1972 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)
267. State and local government purchases of goods and
services in 1972 dollars (Q).—Source 1
(43,81)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)

(46,82)

293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).—Source 1 (46,83)

298. Government surplus or deficit, total (Q).-Source
1
(46,83)

Il-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
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).-Souirce 3

(48,86)

335. Index of producer prices, industrial commodities ( M ) . Source I
(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 ireal 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)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).-Source 3
(49,87)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)

282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).-Source 1
(45,82)

348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)

237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)

283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)

349. Negotiated wage and benefit decisions, ill industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)

238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)

284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)

358. Index of output per hour, all persons, nonfarm business
sector (Q)-Source 3
(49,88)

239. Personal consumption expenditures, servicei in 1972
dollars (Q).—Source 1
(41,81)
240. Gross private domestic investment, total, in current dollars (Q).—Source 1
(42,81)

285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).~
Source 1
(47,83)

370. Index of output per hour, all persons, private business
sector (Q)—Source 3
(49,88)

235. Personal consumption expenditures, total, as a percent
of gross nation*! product <Q).—Source 1
(47,83)
236. Personal consumption expenditures;, nondurable goods,
in current dollars (Q).-Source 1
(41,81)

241. Gross private domestic investment total, in 1972 dollars (Q).-Soun:e 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).--Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Scurce 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)

280. Compensation of employees (Q).—Source 1

(45,82)

286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).-Source 1
(47,82)

Il-C. Labor Force, Employment, and
Unemployment

(45,82)

37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
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)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)

442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
444. Number unemployed, males 20 years and over, labor
force survey (M).--Sources 2 and 3
(51,89)

287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
288. Net interest (Q).—Source 1

116



GOVERNMENT PRINTING OFFICE:

1983-:i8O-9r>3:2Ol

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).-Source4
(14,20,39,58,63,78,94)

44fi. 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)

Il-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)

Il-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)

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).-lnstitut
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)

(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)

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)

548. Value of manufacturers' new orders, defense products
( M ) . - Source 2
(53,90)

667. Balance on goods and services (Q).-Source 1(57,93)

557, Output of defense and space equipment (M).— Source
4
(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 r 93)

746. France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
(59,96)

561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)

11 - F. International Comparisons

747. Italy, index of stock prices (M).—Instituto Centrale di
Statistica (Rome)
(59,96)

564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)




19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)

745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)

748. Japan, index of stock prices (M).-Tokyo Stock
Exchange (Tokyo)
(59,96)

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