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AUGUST 1970
DATA THROUGH JULY

A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION

\

V

U.S.
DEPARTMENT
OF
COMMERCE
Bureau
of the
Census



BUSINESS
CONDITIONS
DIGEST

This report was prepared in the Statistical Indicators Division.
Technical staff and their responsibilities for the publication
are—
Feliks Tamm—Technical supervision and review,
Barry A. Beckman—Specifications for computer processing,
Gerald F. Donahoe—New projects,
Morton Somer—Selection of seasonal adjustment
methods,
Betty F. Tunstall—Collection and compilation of basic
data. (Telephone 440-1596)
Editorial supervision is provided by Maureen Padgett of the
Administrative and Publications Services Division.
The cooperation of
which provide data
furnishing data are
at the back of this

various government and private agencies
is gratefully acknowledged. The agencies
indicated in the list of series and sources
report.

U.S. DEPARTMENT OF COMMERCE
Maurice H. Stans, Secretary
Rocco C. Siciliano, Under Secretary
Harold C. Passer, Assistant Secretary for Economic Affairs

This publication is prepared under the general guidance of
a technical committee established by the Office of Management
and Budget. The committee consists of the following persons:
Julius Shiskin, Chairman
Office of Management and Budget
Murray F. Foss, Council of Economic Advisers, Executive
Office of the President

BUREAU OF THE CENSUS
George Hay Brown, Director
Robert F. Drury, Deputy Director

Edwin D. Goldfield, Bureau of the Census, Department of
Commerce

Edwin D. Goldfield, Assistant Director

George Jaszi, Office of Business Economics, Department of
Commerce

Benjamin D. Kaplan, Chief
Statistical Indicators Division

Geoffrey H. Moore, Bureau of Labor Statistics, Department
of Labor
Kenneth Williams, Federal Reserve Board

ABOUT THE REPORT

ANTICIPATIONS
AND

NATIONAL
INCOME AND
PRODUCT accounts summarize both receipts and
final expenditures for the
personal, business, foreign, and government
sectors of the economy
and provide useful
measures of total
economic activity. The
total of the final
expenditures, which
equals the total of the
receipts, is known as
gross national product,
the most comprehensive single measure
of aggregate economic
output. GNP is defined
as the total market
value of the final output of goods and services produced by the
Nation's economy.

CYCLICAL
INDICATORS
are economic time
series which have been
singled out as leaders, coinciders, or /aggers in relation to movements in
aggregate economic
activity. In this report,
the series on the
NBER's list of cyclical
indicators are classified
by economic process
and by cyclical timing.
These indicators were
selected primarily on
the basis of their
cyclical behavior, but
they have also proven
useful in forecasting,
measuring, and
interpreting other
short-term fluctuations
in aggregate economic
activity.

INTENTIONS data
provide information
on the plans of
businessmen and consumers regarding their
major economic activities in the near future.
This information is considered to be a valuable
aid to economic forecasting either directly
or as an indication of
the state of confidence
concerning the economic outlook. A
number of surveys by
various organizations
and government
agencies have been
developed in recent
years to ascertain
anticipations and
Intentions. The results
of some of these
surveys, expressed as
time series, are
presented in this
report

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This monthly report brings together many of the economic time series found most useful by business analysts
and forecasters. Its predecessor, Bus/ness Cycle Developments, emphasized the cyclical indicators approach to the
analysis of business conditions and was based largely on
the list of leading, roughly coincident, and lagging indicators maintained by the National Bureau of Economic Research, Inc. Some other approaches commonly used by students of economic conditions include econometric models
and anticipations and intentions data. The econometric
model concept utilizes historical and mathematical relationships among consumption, private investment, government,
and various components of the major aggregates to generate
forecasts of gross national product and its composition.
Anticipations and intentions data express the expectations of businessmen and the intentions of consumers.
Most of the content of Bus/ness Cycle Developments has
been retained in this new report and additional data reflecting the emphasis of other approaches have been added to
make it more generally useful to those concerned with
an evaluation of current business conditions and prospects.
The use of the National Bureau's list of indicators and
business cycle turning dates in the cyclical indicators section of this report, as well as the use of other concepts, is
not to be taken as implying endorsement by the Bureau
of the Census or any other government agency of any particular approach to economic analysis. This report is intended only to provide statistical information so arranged
as to facilitate the analysis of the course of the Nation's
economy.
Almost all of the basic data presented in this report
have been published by their source agencies. A series
finding guide, as well as a complete list of series titles and
data sources, is shown at the back of this report.

address label. Make checks payable to the Superintendent of Documents. Send to U.S. Governme
Printing Office, Washington, D.C. 20402, or to any U.S. Department of Commerce Field Office.

New Features and Changes for This Issue.

BCD

METHOD OF PRESENTATION
Seasonal Adjustments

1

BUSINESS CONDITIONS DIGEST

MCD Moving Averages
Reference Turning Dates
Section A. National Income and Product

1
1
1

AUGUST 1970

Section B. Cyclical Indicators
Section C. Anticipations and Intentions
Section D. Other Key Indicators

2
3
3

Data Through July
Series ESI No. 70-8

Section E. Analytical Measures
Section F. International Comparisons

3
3




Howto Read Charts.^

4

How to Locate a Series

4

Summary of Recent Data and Current Changes

5

PART I. CHARTS
NATIONAL INCOME AND PRODUCT

Al
_A2
A3
A4

Gross National Product
National and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment

10
11
12

A5
_A6

Foreign Trade
Government Purchases of Goods and Services

13
14

Final Sales and Inventories
National Income Components
Saving
.'...

15
16
17

A7
A8
A9

9

CYCLICAL INDICATORS

B6

Economic Process and Cyclical Timing
Employment and Unemployment
Production, Income, Consumption, and Trade
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit

18
21
23
26
28
30

B7
B8

Selected Indicators by Timing
Composite Indexes
NBER Short List

34
36

Bl
B2
JB3
B4
J35

ANTICIPATIONS AND INTENTIONS
Aggregate Series
Diffusion Indexes

40
43

OTHER KEY INDICATORS
Foreign Trade
Balance of Payments and Major Components

46
47

Federal Government Activities

52

Price Movements

54

ANALYTICAL MEASURES
Actual and Potential Gross National Product
Analytical Ratios
Diffusion Indexes
Rates of Change

56
57
59
61

INTERNATIONAL COMPARlSQiMS

Fl

Consumer Prices

62

F2 ?
F3 i

Industrial Production
Stock Prices

63
64

PART II. TABLES
NATIONAL INCOME AND PRODUCT

Al

A4
A5
_A6
A7
A8
A9




Gross National Product
National and Personal Income

65
65

Personal Consumption Expenditures

66

Gross Private Domestic Investment
Foreign Trade

66
67

Government Purchases of Goods and Services
Final Sales and Inventories

67
67

National Income Components
Saving

67
68

CYCLICAL INDICATORS
Economic Process and Cyclical Timing
Employment and Unemployment
Production, Income, Consumption, and Trade

69
71

Fixed Capital Investment

72

Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit

74
75
76

Selected Indicators by Timing
Composite Indexes

-

78

ANTICIPATIONS AND INTENTIONS
Aggregate Series
Diffusion Indexes

-

79
80

OTHER KEY INDICATORS
Foreign Trade
Balance of Payments and Major Components

82
83

Federal Government Activities
Price Movements

:

85
86

ANALYTICAL MEASURES
Actual and Potential GNP
Analytical Ratios
Diffusion Indexes
Selected Diffusion Index Components

87
88
89
92

INTERNATIONAL COMPARISONS
Consumer Prices
Industrial Production
Stock Prices

98
99
100

APPENDIXES
A. MCD and Related Measures of Variability
QCD and Related Measures of Variability

(See July issue)
(See July issue)

B. Current Adjustment Factors (See July issue)
C. Historical Data for Selected Series
D. Descriptions and Sources of Series (Not shown this month)

101

E. Business Cycle Expansions and Contractions in the United States:
1854 to 1961 (See July issue)
Index—Series Finding Guide
Titles and Sources of Series

113
115

ii

NEW FEATURES
AND CHANGES
FOR THIS ISSUE

langes in this issue are as follows:

A limited number of
changes are made from
time to time to Incorporate recent findings of economic
research, new/y available time series, and

!• A. new series, Average weekly overtime hours of production workers
.n manufacturing (series 21), has been added to the list of leading
.indicators (see pages 6, 18, and 69) • This series measures the average
Lumber of hours per manufacturing production worker for which overtime
premiums were paid because the hours were in excess of the number of hours
.n either the straight-time workday or workweek during the pay period which
.ncludes the 12th of the month. Hours for which only shift differential,
tazard, incentive, or other similar types of premiums were paid are
Deluded. Historical data for this series are shown in appendix C of this
ssue. Further information concerning this series may be obtained from
he U.S. Department of Labor, Bureau of Labor Statistics, Division of
ndustry and Employment Statistics*
2. The series on newly approved capital appropriations (series 11),
acklog of capital appropriations (series 97), and the diffusion indexes
or newly approved capital appropriations (series Dll) have been revised
y the source agency in order to link the earlier series continuously with
he 1968 and 1969 data which were revised to inflect a new sample and an
pdated asset base in May 1969• Also included in this revision is the
ource agency's annual updating of seasonal adjustment factors for the
revious year. Data for series 11 and Dll are, therefore, revised from
965 to date, and series 97 is revised from 1953 to date. Further
oformation concerning this revision may be obtained from the National
ndustrial Conference Board, Department of Investment Economics,
45 Third Avenue, New York, N.Y., 10022.
3. The composite indexes (series 810, 813, 814, 815, 816, 817, 820,
id 830) have been revised throughout the report to reflect the adoption
P a new index base (1967=100) and to incorporate recent revisions of the
Enponents of these indexes. The trend adjustment factor used in series
LO has been recomputed based on the revised indexes,
4* The composite index of 12 leading indicators prior to trend adjustmt (series 811) will be shown monthly in the basic data table, beginning
Lth this issue, in addition to the reverse trend adjusted index (series
LO)

(Continued on page iv.)
 issue of BUSINESS CONDITIONS DIGEST is scheduled for release
ie September
http://fraser.stlouisfed.org/
i
September
30•
Federal Reserve Bank of St. Louis

revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
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.

5. The series on output per man-hour, total private nonfarm (series
858) has been revised for the period 1967 to date. This revision reflects
the Bureau of Labor Statistics1 adoption of a new 1969 benchmark (affecting data from January 1968 to date) and new seasonal adjustment (affecting
data for 1967)• Further information concerning this revision may be
obtained from the U.S. Department of Labor, Bureau of Labor Statistics,
Division of Industry and Employment Statistics.
6. The diffusion indexes for average workweek (Dl) and nonagricultural
employment (D41) have been revised to incorporate recent revisions in the
basic data. Historical data for these series will be shown in a subsequent issue.
7. Appendix C contains historical data for 1, 2, 3, 11, 16, 17, 21,
22, 41, 48, 52, 53, 57, 62, 68, 97, 250, 252, 253, 520, 522, 525, 527,
530, 532, 534, 536, 537, 540, 541, 600, 601, 602, 810, 811, 813, 814,
815, 816, 817, 820, 830, 854, 856, 859, Dll, and D4B00




IV

METHOD OF PRESENTATION
THIS REPORT is organized into six major
subject sections, as follows:
A.
B.
C.
D.
E.
F.

National Income and Product
Cyclical Indicators
Anticipations and Intentions
Other Key Indicators
Analytical Measures
International Comparisons

Each of these sections is described briefly
in this introduction. Data for each of the
above sections are shown both in Part I
(charts) and in Part II (tables) of the report. Most charts begin with 1948 (except
in section C where they begin with 1957);
the tables contain data for only the last
few years. Except for section F, most
charts contain shading which indicates
periods of recession in general business
activity.
In addition to the charts and tables described above, each issue contains a summary table which shows the current behavior of many of the series, and several
appendixes which present historical data,
series descriptions, seasonal adjustment
factors, and measures of variability. An
index appears at the back of each issue.
It should be noted that the series numbers
used are for identification purposes only
and do not reflect relationships or order.

Seasonal Adjustments
Adjustments for average seasonal fluctuations are often necessary to bring out the
underlying trends of time series. Such adjustments allow for the effects of repetitive
intrayear variations resulting primarily
from normal differences in weather conditions and from various institutional arrangements. Variations attributable to
holidays are usually accounted for by the
seasonal adjustment process; however, a
separate holiday adjustment is occasionally required for holidays with variable
dates, such as Easter. An additional adjustment is sometimes necessary for series which contain considerable variation
due to the number of working or trading
days in each month. As used in this report,
the term "seasonal adjustment" includes
trading-day and holiday adjustments where
they have been made.
Most of the series in this report are presented in seasonally adjusted form and,
in most cases, these are the official figures
released by the source agencies. However,
for the special purposes of this report, a
number of series not ordinarily published
in seasonally adjusted form are shown here
on a seasonally adjusted basis.

MCD Moving Averages
Month-to-month changes in a series are
often dominated by erratic movements.
MCD (months for cyclical dominance) is
an estimate of the appropriate span over
which to observe cyclical movements in a
monthly series. (See appendix A.) It is the
smallest span of months for which the
average change in the cyclical factor is
greater than that in the irregular factor.
The more erratic a series is, the larger the
MCD will be; thus, MCD is 1 for the smoothest series and 6 for the most erratic. MCD



moving averages (that is, moving averages
of the period equal to MCD) tend to have
about the same degree of smoothness for
all series. Thus, a 5-term moving average
of a series with an MCD of 5 will show its
cyclical movements about as clearly as the
seasonally adjusted data for a series with
an MCD of 1.
The charts for sections B and D include
centered MCD moving averages for all
series with an MCD greater than 4. The
seasonally adjusted data are also plotted
to indicate their variation about the moving averages and to provide observations
for the most recent months.

Reference Turning Dates
The historical business cycie turning dates
used in this report are those designated
by the National Bureau of Economic Research, Inc. (NBER). They mark the approximate dates when, according to the
NBER, aggregate economic activity reached
its cyclical high or low levels. As a matter
of general practice, neither new reference
turning dates nor the shading for recessions will be entered on the charts until
after both the new reference peak and
the new reference trough bounding the
shaded area have been designated. This
policy is followed because of the conceptual and empirical difficulties of designating a current recession and the practical difficulties of terminating the shading
of a current recession without including
part of a new expansion.

SECTION A

NATIONAL
INCOME AND
PRODUCT
The national income and product accounts,
compiled by the Office of Business Economics (QBE), summarize both receipts
and final expenditures for the personal,
business, foreign, and government sectors
of the economy and provide useful measures of total economic activity. The total
of the final expenditures (including additions to business inventories), which
equals the total of the receipts (mainly
incomes), is known as gross national
product (GNP). GNP is defined as the
total market value of the final output of
goods and services produced by the Nation's economy. It is the most comprehensive single measure of aggregate economic output.
Gross national product consists of four
major components: (1) Personal consumption expenditures, (2) gross private domestic investment, (3) net exports of goods
and services, and (4) government purchases of goods and services.
Persona/ consumpt/on expenditures is the
market value of goods (durable and nondurable) and services purchased by individuals and nonprofit institutions and the
value of food, clothing, housing, and finan-

cial services received by them as income
in kind. The total purchase cost is covered,
including sales taxes. Home purchases are
excluded, but the estimated rental value
of owner-occupied homes is included.
Gross private domestic investment combines gross fixed investment and net
changes in business inventories. Fixed investment consists of producers' durable
equipment and private (as opposed to
government) structures, including owneroccupied residential units. The estimates
are gross in the sense that there is no
deduction for capital consumption. The
inventory component measures the change
in the physical volume of inventories valued at current replacement cost.
Net exports of goods and services measures
the excess of exports over imports of goods
and services. Exports include both domestic output sold abroad and the contribution to production abroad made by U.S.owned resources. Imports include both
U.S. purchases of foreign output and the
contribution made to production in the
United States by foreign-owned resources.
More detail on U.S. balance of payments
is provided in section D.
Government purchases of goods and services includes general government expenditures for compensation of employees, net
purchases from business and from abroad,
payments to private nonprofit institutions
for research and development, and the
gross fixed investment of government enterprises. Not included are current outlays
of government enterprises, acquisitions of
land, transfer payments, subsidies, loans,
and interest payments to domestic creditors.
A breakdown of the goods portion of GNP,
covering durable and nondurable goods
and both final sales and changes in business inventories, is also included in section
A. Other major aggregates taken from the
national income and product accounts are
described below.
National income is the total earnings arising from the current production of goods
and services and accruing to the labor and
property employed in production. The components of national income are compensation of employees, proprietors' income,
rental income of persons, corporate profits
and the inventory valuation adjustment,
and net interest.
Personal income measures the current income of individuals, owners of unincorporated businesses, nonprofit institutions,
private trust funds, and private health and
welfare funds. It consists of wage and salary disbursements, other labor income,
proprietors' income, rental income of persons, dividends, personal interest income,
and transfer payments to persons, less
personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving.
It consists of personal income less personal taxes and other nontax payments
to general government.
Gross saving represents the difference
between income and spending during an

accounting period.lt is the total of personal
saving, undistributed corporate profits,
corporate inventory valuation adjustment,
the excess of wage accruals over disbursements (usually negligible), government
surplus or deficit, and capital consumption
allowances.
Most of the series in this section are on
a current-dollar basis, but some are shown
on a constant (1958) dollar basis so that
the effects of price changes are eliminated.
The implicit price deflator (computed by
dividing the current-dollar data by the constant-dollar data) for total GNP is also
shown.
SECTION B

CYCLICAL
INDICATORS
The business cycle is generally described
as consisting of alternating periods of expansion and contraction in aggregate economic activity; that is, the complex of activities represented by such concepts as
total production, employment, income,
consumption, trade, and the flow of funds.
Although a recurrent pattern has been
characteristic of American economic history, many economists do not consider it
inevitable.
One of the techniques developed in business cycle research is widely used as a

tool for analyzing current economic conditions and prospects. This is the cyclical
indicators concept, which singles out certain economic time series as being leaders, coinciders, or laggers in relation to
movements in aggregate economic activity. The NBER has, since 1938, maintained
a list of such indicators and has periodically subjected the list to extensive review. Their most recent (1966) list of 73
cyclical indicators is the basis for this section of BCD. These indicators were
selected primarily for their cyclical behavior, but they have also proven useful
in forecasting, measuring, and interpreting other short-term fluctuations in aggregate economic activity.
The NBER employs a dual classification
scheme which groups the indicators by
cyclical timing and by economic process,
and this report uses tha same classification groupings. The diagram below summarizes the cross-classification system
used in this section. The 73 cyclical indicators are presented with economic process as the principal basis of classification
and cyclical timing as the secondary basis.
The major processes are divided into minor
processes which exhibit rather distinct differences in cyclical timing. The timing
classification takes into account a series'
historical record of timing at business
cycle peaks and troughs. Leading indicators
are those which usually reach peaks or
troughs before the corresponding turns in
aggregate economic activity; roughly coincident indicators are direct measures of
aggregate economic activity or move roughly together with it; lagging indicators
usually reach their turning points after the
turns in aggregate economic activity.

The NBER has also specified a "short list"
of indicators. This more selective and substantially unduplicated group of principal
indicators is drawn from the full list and
provides a convenient summary of the
current situation. The short list consists of
26 series: 12 leading, eight roughly coincident, and six lagging. Only five of these
are quarterly series; the rest are monthly.
The short list is classified only by timing
and is shown separately in chart B8.
Included in this section are a number of
composite indexes which provide simple
summary measures of the average behavior
of selected groups of indicators. Each component of an index is weighted according
to its value in forecasting or identifying
short-term movements in aggregate economic activity. The components are standardized so that each has, aside from its
weight, an equal opportunity to influence
the index. Each index is standardized so
that its average month-to-month percent
change is 1 (without regard to sign).
The composite indexes presented in this
report are based on groups of indicators
selected by timing. Thus, there is an index
of leading indicators, another of coincident
indicators, and a third of lagging indicators.
In addition, there are five indexes based on
leading indicators which have been
grouped by economic process. These indexes indicate the underlying cyclical
trends of each group of indicators and the
relative magnitude of their short-term
changes. The index of 12 leading indicators
has been "reverse trend adjusted" so that
its long-run trend parallels that
of
the coincident index. This facilitates

Cross-Classification of Cyclical Indicators by
Economic Process and Cyclical Timing
1. EMPLOYMENT
AND
UNEMPLOYMENT
(15 series)

Marginal employment
adjustments
(6 series)
LEADING INDICATORS
(37 series)

Job vacancies
(2 series)
ROUGHLY COINCIDENT Comprehensive
employment
INDICATORS
(3 series)
(25 series)
Comprehensive
unemployment
(3 series)

Long-duration
unemployment
(1 series)
LAGGING INDICATORS
(11 series)




II. PRODUCTION,
INCOME,
CONSUMPTION,
AND TRADE
(S series)

III. FIXED CAPITAL
INVESTMENT
(14 series)

IV. INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)

V. PRICES, COSTS,
AND PROFITS
(10 series)

VI. MONEY
AND CREDIT
(17 series)

Formation of business
enterprises
(2 series)
New investment
commitments
(8 series)

Inventory investment
and purchasing
(7 series)

Sensitive commodity
prices
(1 series)
Stock prices
(1 series)
Profits and profit
margins
(4 series)

Flows of money
and credit
(6 series)
Credit difficulties
(2 series)

Comprehensive
wholesale
prices
(2 series)

Bank reserves
(1 series)
Money market interest
rates
(4 series)

Unit labor costs
(2 series)

Outstanding debt
(2 series)
Interest rates on
business loans
and mortgages
(2 series)

Comprehensive
Backlog of investment
production
com mitments
(3 series)
(2 series)
Comprehensive income
(2 series)
Comprehensive
consumption
and trade (3 series)

Investment
expenditures
(2 series)

Inventories
(2 series)

comparisons among the leading, coincident,
and lagging indexes and tends to shorten the
leads of the leading index at business
cycle peaks while lengthening them at
troughs; it also reduces the variability of
the leads and lags.
SECTION C

ANTICIPATIONS
AND
INTENTIONS
Most businessmen and many individual
consumers have some type of plans as to
their major economic activities in the near
future. Information on these plans is regarded as a valuable aid to economic forecasting either directly or as an indication
of the state of confidence concerning the
economic outlook. In recent years, much
progress has been made in compiling such
information, and a number of surveys by
various organizations and government
agencies ascertain anticipations and intentions of businessmen and consumers. The
results of some of these surveys, expressed
as time series, are presented in this section of the report.
The business analyst who uses these series should be aware of their limitations.
These data reflect only the respondents'
anticipations (what they expect others to
do) or intentions (what they plan to do),
not firm commitments. Among both businessmen and consumers, some responses
may not be very reliable; that is, the
plans may be conjectural or the respondent may make little effort to reply accurately to the survey questions. Also, many
plans are subject to modification or even
complete abandonment due to unforeseen and uncontrollable developments.
In some cases, the anticipations (or intentions) may have a systematic bias; for
example, the anticipations (or intentions)
data may tend to be lower than the subsequent actual data under certain economic
conditions and higher under other conditions. Sometimes they merely project what
has already occurred and hence appear to
lag behind actual changes. Actual data are
included in this section to indicate their
historical relationship to the anticipations
and intentions. Some of the series are diffusion indexes, a concept explained in the
description for section E.
SECTION D

OTHER KEY
INDICATORS
Many economic series are available which,
although not included in the three main
sections of the report, are nevertheless
important for an overall view of the economy. This section presents a number of
such series, though by no means a com-




prehensive selection. In general, these series reflect processes which are not direct
measures of economic activity but which
do have a significant bearing on business
conditions.
The foreign trade and payments series
include data on imports and exports and
their balance, export orders, and the balance of payments. Many of the components of the balance-of-payments accounts
are shown. Some are charted in a manner
which emphasizes the balance between
receipts and expenditures for each component; for example, comparisons of exports of goods and services with imports
of goods and services, and income on
U.S. investments abroad with payments on
foreign investments in the United States.
In addition, balances are shown for U.S.
Government grants and capital transactions and for capital transactions of the
private sector (banks and U.S. residents
other than banks). Finally, cumulative
changes are shown for other components;
for example, U.S. liquid liabilities to all
foreigners and U.S. official reserve assets.
Because these data are influenced by
foreign as well as domestic conditions,
the cyclical shading has been omitted
from the balance-of-payments charts.
The Federal Government activities series
include Federal receipts and expenditures
and their balance, and selected Federal defense activities. The receipts and expenditures data are from the national income and
product accounts, but are not shown in
section A of this report. The defense series
included are only a few of the many available. For a more comprehensive picture of
defense activities, see Defense Indicators,
a monthly Bureau of the Census publication.
The price movements series consist of
consumer and wholesale price indexes and
their major components. Additional data
on prices and costs are shown in several
other sections.

SECTION E

ANALYTICAL
MEASURES
This section begins by comparing gross
national product in constant dollars with
a measure of potential GNP. In effect,
these two series reflect the relationship
between the economy's productive capacity and total demand, the excess of potential over actual GNP indicating the degree
to which potentially productive resources
are not fully utilized. The measure of potential GNP, developed by the Council of
Economic Advisers in the early 1960's,
takes into account increases in both available man-hours and output per man-hour.
The NBER list of cyclical indicators includes some series which measure the relationship between different economic variables (for example, the series on labor cost

per unit of output). There are, however,
additional analytical ratios which have
proven useful in evaluating business conditions and prospects. A number of such
ratios are shown in the second part of
this section.
The third part presents a selection of
diffusion indexes. Many series in this report are aggregates compiled from a number of components. A diffusion index is a
summary measure expressing, for a particular aggregate, the percentage of components rising over a given timespan (half
of the unchanged components are considered rising). Cyclical changes in diffusion
indexes tend to lead those of the corresponding aggregates. Since diffusion indexes are highly erratic, long-term (6- or
9-month span) indexes are used to indicate underlying trends and short-term (1month span) indexes are used to show
recent developments. Most of the indexes
are constructed from components of series
shown in section B, and these indexes
have the same identification numbers as
the corresponding aggregates. The diffusion indexes are classified by the cyclical
timing of the aggregates to which they
relate. Recent data and directions of
change for many of the components are
shown in table E4.
The final part (E5) presents, in chart
form, rates of change for a selected group
of economic series. Percent changes at annual rate are shown for 1- and 3-month
spans or for 1-quarter spans.

SECTION F

INTERNATIONAL
COMPARISONS
Because this report is designed as an aid
to the analysis of U.S. business conditions,
all previous sections are based on data
which relate directly to that purpose. But
many business analysts examine economic
developments in other important countries
with a view to their impact on the United
States. This section is provided to facilitate a quick review of basic economic conditions in six of the nations with which
we have important trade relationships.
Data on consumer prices, industrial production, and stock prices are shown for
Canada, the United Kingdom, France, West
Germany, Japan, and Italy and 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. The industrial production series provide a comprehensive measure of output and the consumer price
indexes measure an important sector of
prices, while stock prices tend to be important as leading indicators. In this section, the U.S. business cycle shading has
been omitted from the charts.

HOW TO READ CHARTS
Peak (P) of cycle indicates end
of expansion and beginning of
Recession (shaded areas) asdesignated by NBER.

Basic Data
(May) (F.b.)
T

Series numbers are for identification only and do not reflect
series relationships or order.

Solid line indicates monthly data.
(Data may be actual monthly
figures or MCD moving averages.*)

Trough (T) of cycle indicates end
of recession and beginning of
Expansion as designated by
NBER.
Arabic number indicates latest
20 -i>/mont'1 f°r ^M data are plotted.
("6" = June)
Roman number indicates latest
^/quarter for which data are
/
plotted. ("IV" - fourth quarter)
Dotted line indicates anticipated
data.

Broken line indicates actual
monthly data for series where an
MCD moving average* is plotted.

Parallel lines indicate a break in
continuity (data not available,
changes in series definitions, extreme values, etc.).
Solid line with plotting points indicates quarterly data.

Various scales are used to highlight the patterns of the individual
series. "Scale A" is an arithmetic
scale, "scale H" is a logarithmic scale with 1 cycle in a given
distance, "scale L-2" is a logarithmic scale with 2 cycles in
that distance, etc. The scales
should be carefully noted because
they show whether the plotted
lines for various series are directly comparable.

Scale shows percent of components rising.
Solid line indicates monthly data
over 6- or 9-month spans.
Broken line indicates monthly
data over 1-month spans.
Solid line with plotting points indicates quarterly data over various spans.
*Many of the more irregular
series are shown in terms of their
MCD moving averages as well as
their actual monthly data. In such
cases, the 4-, 5-, or 6-term1moving averages are plotted l ^, 2,
or 2y2 months, respectively, behind the actual data. See appendix A for a description of MCD
moving averages.

Arabic number indicates latest
month for which data are used
in computing the indexes. ("6" =
June)
Roman number indicates latest
quarter for which data are used
in computing the indexes. ("I" =
first quarter)
Broken line with plotting points
indicates quarterly data over various spans.
NOTE: Some of the charts of
anticipations and intentions data
(section C) and balance of payments data (section D) do not
conform to the above method of
presentation. Deviations are adequately explained as they occur.

HOW TO LOCATE A SERIES
To locate a series in BCD, consult the "Index—Series Finding Guide" in the back of the book where series are arranged into six
sections and various subsections. Also, in the list of "Titles and Sources of. Series" which follows the Finding Guide, series are
listed in numerical order within each of the six sections, and the charts and tables in which they appear are indicated.




Basic data1
Unit
of
measure

Series title

1967

1968

1969

IstQ

2dQ

1969

1969

Percent change

3dQ
1969

4th Q
1969

IstQ
1970

2dQ
1970

3dQ
to
4th Q
1969

4th Q
to
IstQ
1970

IstQ

to
2dQ
1970

Series number

|

Table 1. Summary of Recent Data and Current Changes for Principal Indicators

A. NATIONAL INCOME AND PRODUCT
Al. Gross Notional Product
200.
205
210.
215.
217

GNP in current dollars
GNP in 1958 dollars
Implicit price deflator
Per capita GNP in current dollars
Per capita GNP in 1958 dollars . ...

?20

National income current dollars

Ann. rate, bil. dol. .
do
1958=100
Ann. rate, dol. . .
do

793t9
675.2

931.4
727.1
128.1
4»582
3 1577

907 .6
722.1
125.7
4»483
3t566

923.7

769.5
748.9

749.3
725.8

591.2
499.0

631.6
511.5

612.0
504.7

764.0
741.1
623.0
507.5

779.5

688.7

2»744

2f939

3f 108

3t023

3 1 070

2? 398

2t480

2f5l7

2»493

2»501

Ann.rate,bil.dol. .
do
do
do
do
do
do

492.1
430.1

535.8
452.3

577.5
467.7

561.8
463.3

573.3
467.1

468.7

865.0
707.2

117.6

122.3

3t986
3i390

4»299
3f5l5

726.1
127.2
4t55l
3t578

942.6
730.9

129.0
4t632
3t592

951.7
729.2
130.5
4»663
3»573

959.5
723.8

132.6
4 1 690
3 ? 538

971.1
724.9
134.0
4 1 734
3t534

1.0
-0.2

1.2
0.7
-0.5

0.8
-0.7

1.6
0.6
-1.0

1.2
0.2
1.1
0.9
-0.1

200
205
210
215
217

A2. National and Personal Income
Ann.rate,bil.dol..
do
do
Disposable personal income current dol ...
do
Disposable personal income, constant dol . .
Per capita disposable personal income,
Ann. rate, dol ...
current dollars
Per capita disposable personal income,
do
constant dollars

224.
225.
226.
227.

653.6
629.3
546.3
477.5

712.7

0.7
1.6
1.6
0.4

0.8
1.5
2.3
1.0

0.8
2.4
2.8
1.7

220
222
224
225

3f333

1.3

2.0

2.5

226

2t594

0.1

0.7

1.5

227

614.4
478.1
91.9
61.5
30.4
262.6
259.9

1.8
0.6
1.5
0.7
2.8
1.6
2.2

1.8
0.5

1.9
0.9
3.1
2.2
5.2
1.5
1.8

230
231
232
233
234
236
237

0.8
0.2
-1.1
0.9
-2.4
1.5

240
241
242
243
244
245

517.8

782.3
665.3
522.9

797.7
801.3
683.6
532.0

3»148

3»188

3»252

2i535

2f537

2»556

582.1

592.6
471.7

603.1
474.0

90.8
58.3
32.5

89.1
60.2
28.9

758.1
640.6
515.9

785.2
770.5
650.6

791.5

A3. Personal Consumption Expenditures
230.
231.
232
233
234.
236.
237

Total, current dollars
Total, constant dollars
Durable goods current dollars
Durable goods exc. autos current dollars. .
Automobiles current dollars
Nondurable goods, current dollars
Services current dollars

73.1
48.2
24.9

84.0
53.8

90.0
58.2
31.8

89.1
57.6

90.6
59.1

89.5
57.9

30.2

31.5

31.5

31.6

215.0
204.0

230.2

245.8

221.6

241.6

239.2
233.5

244.0
238.7

244.5

252.0
249.8

258.8
255.2

do

116.6

126.5

139.8

136.0

139.3

do

83.3
28.0
55.3
25.1

88.7
29.6
59.1
30.3

99.3
33.8
65.5
32.0

95.7
32.6
63.1
33.0

97.5
32.3
65.2
33.9

143.8
101.5

140.2
102.6

133.2
102.6

35.2
66.3
31.0
11.3

35.1
67.5
30.4

35.7
66.9
29.1

248.1

-1.9

3.3
-11.1
2.7
2.2

A4. Gross Private Domestic Investment
240.
241.
242.
243.
244.

Gross
Fixed
Fixed
Fixed
Fixed

private domestic investment, total . .
investment, total nonresidential
investment, nonresidential structures.
investment, producers' dur. equip. . . .
investment, residential structures . . .

do
do
do
do

8.2

7.6

8.5

7.4

7.9

7.2

1.6

134.3
102.8
35.3
67.5
28.4
3.1

-2.5

1.1
~0.3

1.8
-1.9
-4.1

-5.0

0.0
1.7
-0.9
-4.3
-5.6

A5. Foreign Trade
252
253

do
do
do

Exports
lmports

5.2

2.5

1.9

1.3

1.3

2.6

2.6

3.5

46.2
41.0

50.6
48.1

55.5
53.6

47.8
46.5

57.2
55.9

58.3
55.6

58.8
56.2

61.1
57.6

212.2
101.3

208.5

209.9

100.9

214.1
102.5

216.3
102.1

219.6
102.3

4.1
62.8
58.7

0.0
0.9
1.1

0.9
3.9
2.5

0.6
2.8
1.9

250
252
253

1.0

1.5
0.2
0.6
2.8

•*0.5
-2.5
-3.2
1.1

260
262
264
266

A6. Government Purchases of Goods
and Services
260.
262
264
266

Total
Federal
National defense
State and local

270 Final sales durable goods
271. Change in business inventories, durable
goods 2
274 Final sales nondurable goods
275. Change in business inventories, nondurable goods2 ..

.do

180.1

200.2

do
do
do

90.7
72.4
89.4

99.5
78.0

78.8

78.6

99.8
77.9

79.8

78.8

79.3

100.7

110.8

107.5

110.1

111.6

114.2

117.4

218.4
99.7
76.8
118.7

do

156.5

170.4

183.9

180.5

182.7

184.8

187.4

185.5

188.5

-0.3

-2.6

280.0

-1.9
283.3

-1.6

~0.4
-1.3

2.3

1.4

1.6

270

2.1

-1.6
1.2

271
274

0.0

3.1

275

1.7
0.6
0.9

0.7
0.3
0.4
1.4
2.2

280
282
284
286
288

-0.4
15.0

290
292

-8.3

8.1
1.8
-9.8

294
296
298

13.2

6.8

207

-1.0

do

4.7

5.7

6.4

5.6

do

234.2

252.5

267.7

260.4

6.7
266.1

7.9
270.1

5.3
274.3

do

3.5

2.0

2.1

1.8

1.2

3.5

1.9

1.9

5.0

do
do
do..do
do

467.2

514.1

564.2

544.9

557.5

572.2

582.1

592.2

62.1
21.1
78.7
24.4

64,1
21.3
85.4
27.8

66.8
22.0
85.8
30.7

66.0
21.6
87.1
29.7

66.7
22.0
87.4
30.4

67.5
22.1
86.8
31.0

67.2
22.3
82.0
31.7

67.6
22.5
76.7
32.4

596.4
67.8
22.6
77.8
33.1

do
do

119.4

128.6

143.6

138.5

142.5

149.1

144.2

139.3

40.4

37.6

34.3

33.3

42.0

41.1

44.8

138.8
51.5

~3.3
-2.1

-3.4

40.4

do

do

24.1
68.9

19.6
77.0

19.2
78.2
11.8

19.7
79.4

15.4
80.7

14.7
83.6
-11.0

-21.8
1.6

-11.7
1.7

-13.9

21.6
74.0
-7.3

18.5
78.9

do

-0.9

do

-2.2

-7.4

29.4

8.9

1.6

-5.6

A8. National Income Components
280.
282
284
286.
288.

Compensation of employees
Proprietors' income
Rental income of persons
Corp. profits and inventory valuation adj. . .
Net interest

1.7
-0.4

0.9
-5.5

2.3

-6.5

2.2

A9. Saving
290. Gross saving, total
292 Personal saving
294. Undistributed corporate profits plus
inventory valuation adjustment
2%. Capital consumption allowances .
298. Government surplus or deficit, total 2
El.

8.7

7.7

8.0

7.1

13.6
82.1
.1.2

0.5

9.4

22.6

9.0

Actual and Potential GNP

207. GNP eao Potential less actual) 2




0.8

-4.9

~1.8

Basic data 1
Series title

Unit
of
measure

1968

1969

Percent change

4th Q

IstQ

2dQ

May

June

July

1969

1970

1970

1970

1970

1970

Series number |

Table 1. Summary of Recent Data and Current Changes for Principal Indicators-Con.

May
to
June

June
to
July

4th Q
to
IstQ

to
2dQ

1970

1970

1970

1970

-1.9
-0.2
-0.2

-1.2
-0.3
-0.2

810
820
830

-2.8
-0.8
-1.2
-2.4

813
814
815
816
817

IstQ

B. CYCLICAL INDICATORS
B7. Composite Indexes

810. 12 leading indicators, reverse trend adj. . 1967=100
do
820. 5 coincident indicators
do
830 6 lagging indicators

114.3
121.4
131.1

116.1
121.4
130.9

109.9
109.2

117.4
119.7
125.0

118.1
122.1
131.4

115.9
121.9
131.2

102.1
106.6
100.3
101.0
104.3

102.2
110.2
104.4
100.7
103.0

100.9
109.5
106.0

97.4

94.7

94.9

94.8

96.6

107.3
104.9

106.4
103.6

106.2
102.8

106.0
103.4

106.9
103.5

96.1
98.2

93.8
99.8

93.1
99.3

92.7

93.6

101.4

100.3

40.7

40.6

40.6

40.1

39.9

39.8

39.8

109t3

114.5
121.5
131.0

114.0
121.2
131.0

0.3
0.2
0.1

LEADING INDICATOR SECTORS

814
815
816
817

do
do
do
do
do

Capital investment commitments
Inventory investment and purchasing
Profitability
Sensitive financial flows

98.3

NA

1.6
0.0
-0.2

1.9
0.8
0.1
1.0

1.0

NA

-3.5
-2.0
-1.0
-2.2
-3.2

0.0

0.3

-1.2

-0.5

1

0.2

-0.1

-0.3
-6.5
-0.5

-0.2
-8,7

-0.1

21
4
2

12.5

-0.1
-0.2

0.6
-0.4

1.6

Bl. Employment and Unemployment
LEADING INDICATORS

Marginal Employment Adjustments:
*1. Average workweek, prod, workers, mfg
21. Avg. weekly overtime hours, production

Hours

. ... do
3.6
Ann. rate, thous. . 5i716
4 Nonagri placements all industries
2
Per 100 employ . .
2 Accession rate manufacturing
4.6
*5. Avg. weekly initial claims, State
Thousands
194
unemployment insurance (inverted3)
3. Layoff rate, manufacturing (inverted3)2. . . Per 100 employ . .
1.2

39.9

3.6

3.5

3.2

3.0

2.9

3.1

5tl49

4t728

4t420

4t036

4t056

3t864

3.0
MA
3.9

4.7

4.6

4.1

4.1

4.2

4.0

194
1.2

208
1.3

248
1.7

314
1.9

313
1.9

303
1.9

265
1.5

373
206

319
228

319
222

292
200

245
180

257
180

245
175

NA
172

134.8

139,1

140.0

139.8

139.0

139.0

138.3

138.5

67.9
72.1

70.3
74.3

70.8
75.1

71.1
75.5

70.9
74.9

70.9
74.8

70.6
74.7

70.5
75.1

-4.7
-0.2

3.2
0.0

NA

0,0

-19.2

-26.6

0.4

-0.4

-0.2

NA

-8,5
-9,9

-16.1
-10.0

49
46

-0.1

-0.6
-0.3
-0.8

48
41
42

43

5
3

ROUGHLY COINCIDENT INDICATORS

Job Vacancies:
49. Nonagri. job openings unfilled *
46. Help-wanted advertising

Thous., E O F . . . .
1957-59=100 ....

Comprehensive Employment:
Ann. rate, billion
48. Man-hours in nonagricultural
man-hours
establishments.
Millions
*41 Employees on nonagri payrolls
do
42 Persons engaged in nonagri activities . . .
Comprehensive Unemployment:
*43. Unemployment rate, total (inverted 3 ) 2
45. Avg. weekly insured unemployment
rate (inverted 3 ) 2
40. Unemployment rate, married males

Percent
.do

3.6

3.5

3.6

4.2

4.8

5.0

4.7

5.0

2.2

2.1

2.3

2.6

3.4

3.5

3.7

3.5

-4.7
-2.8

-0.5
-0.4
-0.1

0.3
-0.2

-1.7

0.1
-0.1

0.5

-0.6

-0.6

-0.3

-0.8

45

-0.2

-0,4

-0.5

40

-0.1

-0.1

-0.1

44

-0.3

0.2

do

1.6

1.5

1.6

2.0

2.5

2.6

2.5

2.7

do

0.5

0.5

0.5

0.6

0.7

0.7

0.8

0.9

-0.1

Comprehensive Production:
*200. GNP in current dollars
*205. GNP in 1958 dollars
*47. Industrial production

Ann. rate, bil.dol . . 865.0
do
707.2
1957-59=100 .... 165.5

931.4
727.1
172.8

951.7
729.2
171.9

959.5
723.8

971.1
724.9
169.4

169.1

168.8

169.2

-0.2

0.2

Comprehensive Income:
*52. Personal income
53 Wages salaries in mining mfg constr

Ann. rate, bil. dol
do

688.7

748.9

770.5

782.3

798.2

199.4

199.6

197.7

198.0

801.8
198.1

-0.2

194.5

801.3
198.3

799.7

178.6

0.2

0.5
0.1

It 276
968.1
365.9

It281

It 290

0.7

NA

0.1

0.4
0.5

LAGGING INDICATORS

Long Duration Unemployment:
* 44. Unemployment rate, 15 weeks and
over (inverted 3 ) 2
and Trade
ROUGHLY COINCIDENT INDICATORS

Comprehensive Consumption and Trade:
*56 Manufacturing and trade sales
*54

Sales of retail stores

do ... .
do
. . do

170.7

It 162

It 245

It 269

It 265

857.4

922.9

338.1

351.5

944.5
354.0

957.9
357.4

0.8

366.0

NA

-0.7
-0.7

1.5
0.1

-0.3

1.4
1.0

1.2
0.2
-0.8

2.4
-0.7

0.9
1.1
2.4

365.2

NA

-0.2

NA

-1.0
-0.6

NA
NA

-1.8
-4.5

-5.0

6.1

-6.5

0.7
-10.6

200
205
47

52
53
56
57
54

B3. Fixed Capital Investment
LEADING INDICATORS

Formation of Business Enterprises:
*12 Index of net business formation
13 New business incorporations

1957-59=100
Ann. rate, thous. .

117.8

123.6

122.4

120.2

114.2

113.9

112.8

233.2

273.2

278.0

265.6

266.2

268.8

267.3

NA
NA

367.0

373.2

348.8

356.9

378.7

194

197

New Investment Commitments:
*6. New orders, durable goods industries .... Ann. rate, bil.dol . . 334.5
1957-59=100 ....
176
8. Construction contracts, total value
*10. Contracts and orders, plant, equipment . . .Ann. rate, bil. dol . . 85.0
do
24.6
11. New capital appropriations, manufacturing.
69.7
do
24 New orders mach and equip, industries . .
Ann. rate, mil. sq.
9. Construction contracts, commercial
793
ft.floor space . .
and industrial buildings .
28. New private housing units started, total . . . Ann. rate, thous. . It 508
1957-5^=100 .... 112.9
*29. New bldg. permits, private housing

208

0.9
9.4
3.1

351.3
186

353.8

93.7
26.1
74.4

89.8

92.6

96.6

74.5

76.2

79.2

698
It 242
110.4

654
It 375
109.1

845
It585
105.7

-6.3
10.7
-1.2

81.94

81.11

81.26

-1.0

95.7
29.8
78.8

97.2
30.4
78.6

99.5
26.3
76.0

905
It 486
109.7

925
1»357
100.6

948
It 252
90.5

707
It 280
108.3

86.67
23.85

86.67
23.85

83.72
23.53

81.11
22.92

170

186

180

2.3

4.3

5.6
2.4
-13.5

3.9

-3.3

-3.2

29,2
15.3
-3.1

0.2

-5.8
-0.8
-2.1

12
13
6
8
10
11
24

-7.7

-25.4
2.2

-10.0

19.7

9
28
29

-3.4
-1.3

-3.1
-2.6

96
97

2.5

ROUGHLY COINCIDENT INDICATORS

Backlog of Investment Commitments:
96. Unfilled orders, durable goods industries . Bil. dol., EOF...
Hn
97. Backlog of capital approp.^mfg.4




84.07

21.02

0.2

Basic data1
Series title

Unit
of
measure

1968

4th Q

1969

1969

IstQ
1970

Percent change

2dQ

May

June

July

1970

1970

1970

1970

May
to
June

June
to
July

IstQ

to
2dQ

1970

1970

1970

1970

4th Q
to

IstQ

Series number

Table 1. Summary of Recent Data and Current Changes for Principal Indicators-Con.

B. CYCLICAL INDICATORS-Con.
B3. Fixed Capital Investment— Con.
LAGGING INDICATORS

Investment Expenditures:
*61. Business expend., new plant and equip • • • Ann. rate, bil. dol.
69. Machinery and equipment sales and
business construction expenditures
do.

67.80

75.54

77.84

78.22 a80.66

82.69

92.25

93.27

95.13

7.6

8.5

7.2

0.5
96.25

94.16

94.76

NA

-1.5

NA

2.0

3.1
-1.0

61
69

B4. Inventories and Inventory Investment
LEADING INDICATORS

Inventory Investment and Purchasing:
245. Change in business inventories, all
industries2.
*31. Change in book value, manufacturing
and trade inventories2
37. Purchased materials, percent reporting
20. Change in book value, manufacturers'
inventories of materials, supplies2 .
26. Buying policy, production materials,
commitments 60 days or longer2 @
32. Vendor performance, percent reporting
25. Change in unfilled orders, durable goods
industries2

Ann. rate, billion

do
Percent ...
Ann. rate, billion
dollars .

3.1

4.7

5.1

51

50

53

50

44

1.4

1.1

2.0

0.9

64

63

64

60

10.1

Percent . .

do
Ann. rate. bill ion
dollars

1.6

12.3

13.5

-0.7

57

-0.1

40
-0.7

57
72

4.2

NA

4.3

NA

46

46

6

0

NA

0.4

NA

52

-2

-3

-0.3

55
69

53

65

64

55

64

3.5

2.6

1.2

-11.8

-10.5

-10.8

-10.1

153.8

166.1

166.1

167.3

168.6

168.2

29.13

31.64

31.64

32.25

33.10

116.1

119.5

117.3

50

•O

1.8

0.7

168.6

NA

0.2

33.06

33.10

NA

0.1

118.0

115.3

245

-5.6

1.5

-8.8

0.4

31

-6

37

-3
-1.1

-4

-1.6

20

-3

26

-9

9

32

-13.0

1.3

25

NA

0.7

0.8

71

NA

1.9

2.6

65

-19
11.9

LAGGING INDICATORS

Inventories:
*71. Book value, mfg. and trade inventories 4 . . Bil. dol., EOP...
65. Book value, manufacturers' inventories
do
of finished goods^
B5. Prices, Costs, and Profits
LEADING INDICATORS

Sensitive Commodity Prices:
*23. Industrial materials prices®

1957-59=100 ....

97.8

111.8

Stock Prices:
*19. Stock prices, 500 common stocks®

1941-43=10

98.7

97.8

94.3

88.7

79.2

48.2

48.5

47.1

44.6

. 44.3

Profits and Profit Margins:
Ann. rate, bil. dol.
*16. Corporate profits, after taxes
22. Ratio, profits to income originating,
corporate all industries2
Percent . .
15. Profits (after taxes) per dol. of sales, mfg.2 Cents
*17. Ratio, price to unit labor cost, mfg
1957-59=100 ....

11.0

5.1
99.5

10.2

4.8
99.0

9.7
4.5
97.9

9.0
4.1
97.9

76.1

75.6

112.3

-2.3

75.7

-0.7

-2.2

0.1

-1.8

23

-5.9

-10.7

19

-5.3

-0.7

16

2.9

0.8

0.0

0.0
NA
0.3

22
15
17

0.2
0.5

1.1
1.3

0.9
0.6

55
58

2.0
1.1

0.4
0.4

68
62

1.6
2.6

6.6
0.4
3.1
0.6
3.1
16.1

98
85
33
113
112
110

-16.9

-13.2

14

0.02

-0.02

39

9.0
NA

-0.7
-0.4

98.2

98.1

97.9

98.7

116.6
117.1

116.7
117.4

116.9
118.0

0.1
0.3

119.4

119.9

119.6

0.4

-0.2

ROUGHLY COINCIDENT INDICATORS

Comprehensive Wholesale Prices:
55. Wholesale prices, indus. commodities @ . 1957-59=100 .... 109.0
do
58. Wholesale prices, manufactured goods® .
109.4

112.6
113.3

114.2
114.9

115.5
116.4

116.5
117,1

0.763

0.783

0.799

0.802

114.4

117.5

118.8

119.3

LAGGING INDICATORS

Unit Labor Costs:
68. Labor cost per unit of gross product,
*62. Labor cost per unit of output, mfg

rjollars
0.726
1957-59-100 .... 110.0

-0.3

B6. Money and Credit
LEADING INDICATORS

Flows of Money and Credit:
98. Change in money supply and time
Ann. rate, percent
deposits2
do.
85. Change in money supply2
Ann. rate, bil. dol.
33. Change in mortgage debt 2
2
do
*113 Change in consumer installment debt . . .
do.
112 Change in business loans 2
do .
Credit Difficulties:
do
14. Liabilities of business failures (inv.3)®.
39. Delinquency rate, installment loans
3 2 4
(inverted )
Percent, EOP ...

9.0
7.0
20.1

8.9
7.4

-1.5

2.4
19.9

8.1
7.4

0.6
1.2
17.6

6.8
6.1

2.2
3.8
14.5

4.0

8.8
4.2
17.6

4.6

84.1

91.9

81.3

-4.3
76.2

0.94

1.14

1.36

1.59

1.80

1.67

1.81

1.81

1.79

1.81

6.8
3.6
18.1

5.0

-1.2
88.5

-5.9

1.77

3.2
-1.8
20.9

5.3
1.2

19.9

4.1
NA
NA
5.2

-3.6
-5.4

2.8
0.3
7.1

16.7

5.9
NA
NA
4.0

-3.1
-2.8

•"10.4
-6.8

NA

2.05

3.56

-15.8

-73.7

1.81

NA

NA

NA

-1»252

-94

551

-136

-67

93

-0.30

-0.24
-0.61
-0.42
-0.43

-0.06

-0.51

114
116
115
117

ROUGHLY COINCIDENT INDICATORS

Bank Reserves:
93. Free reserves (inverted3)2 ®

Million dollars...

-207

-871

-936

-800

-733

-795

-701

Money
114.
116.
115.
117.

Percent .
do
do
do

5.34
6.84
5.26

6.69
8.06
6.12
5.72

7.32
8.87
6.53

7.26
8.95
6.56
6.35

6.75
9.44
6.82
6.82

7.04
9.53
6.94
7.00

6.74
9.70
6.99
6.96

Market Interest Rates:
Treasury bill rate 2 ®
Corporate bond yields 2 ®
Treasury bond yields2 ®
Municipal bond yields 2 (ft




a. 45

6. an

6.50
9.09
6.57
6.53

0.17
0.05

-0.04

0.08
0.03

-0.05

0.49
0.26
0.47

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

Unit
of
measure

1968

1969

4th Q
1969

Percent change

IstQ

2dQ

May

June

July

1970

1970

1970

1970

1970

May
to
June

June
to
July

4th Q
to
IstQ

IstQ

1970

1970

1970

1970

to
2dQ

.1

B. CYCLICAL INDICATORS~Con.
86. Money and Credit-Con.
LAGGING INDICATORS

Outstanding Debt:
Bil. dol., EOP. ..
66. Consumer installment debt*
*72. Com. and industrial loans outstanding *. . . .... do

88.1
72.5

96.2
80.8

96.2
80.8

97.2
78.2

98.3
78.1

97.9
78.1

98.3
78.1

78.6

Interest Rates on Business Loans and Mortgages:
*67. Bank rates on short-term bus.
loans 2®. . . Pprppnt
do
118. Mortgage yields, residential2 ©

6.68
7.19

8.21
8.29

8.83
8.53

8.86
9.24

8.49
9.12

9.11

9.16

9.11

NA

0.4
0.0

0.05

NA
0.6

-3.2

-0.1

66
72

-0.05

0.03
0.71

-0.37
-0.12

67
118

1.6

500

6.1

502

1.0

1.1

D. OTHER KEY INDICATORS
Dl. Foreign Trade

500. Merchandise trade balance2

Ann. rate,bil.dol..

do
506. Export orders, durable goods except motor
. ... do
vehicles....
508. Export orders, nonelectrical machinery. . . . 1957-59=100....
Ann. rate, bil. dol. .
512. General imports

1.0
34.1
12.3

241

1.3
37.3
14.7

256

2.1
39.9
16.0

247

2.4
41.2
17.4

241

4.0
43.7
16.0

270

38.9

39.7

-7.07

-6.02
-7.91

33.1

36.0

37.8

do
do

0.17
1.64

-7.22

0.84
2.09

do

-6.2

9.3

6.1

-1.7

do

175.4

200.6

202.0

do
do
do
do
do
do
do

181.6

191.3

195.9

78.0
86.8
28.9
47.5
42.3

78.8
81.1
20.9
47.3
23.1
35.5

121.2
108.7

127.7
113.0

Percent

84.5

83.7

Ratio

1.54

1.54

do

3.31

3.16

1957-59=100 ....

118.0

120.8

122.1

Ratio

0.068

0.060

0.134
133.7

4.0
44.3
14.1

267
40.3

5.6
45.3
16.0

278
39.7

5.3
44.2

NA
NA
38.9

1.6

-0.3

0.3

2.3

,2.4

3.3

13.5

4.1
-1.5

NA
NA

8.8
-2.4

2.9

«2.0

»8.0
12.0

2.1

506
508
512

D2. U.S. Balance of Payments

520 Liouidity balance basis2 2
522 Official settlements basis

2.71

-12.35

-7.91
-14.44

1.05
4.44

520
522

D3. Federal Government Activities

600. Federal surplus or deficit, national
income and product accounts 2
601. Federal receipts, national income and
product accounts
602. Federal expenditures, national income
and product accounts
264 National defense purchases
616. Defense Dept. obligations, total
621. Defense Dept. obligations procurement . . .
647. New orders, defense products industries. . .
648. New orders, defense procbcts
625. Military contract awards in U.S

NA

-14.3

-7.8

-12.6

600

195.9

196.6

-3.0

0.4

601

197.7

210.9

6.7

78.8
84.9
24.2
52.7
25.7
35.2

79.3
80.3
20.4
47.2
21.0
34.1

76.8

43.6
20.3
30.4

73.4
15.9
48.0
22.2
26.3

39.8
20.9
34,4

57.1
37.0

130.5
114.6

132.5
116.3

134.6
116.8

134.6
116.8

135.2
117.0

135.7
117.7

81.7

79.8

78.0

1.56

1.58

1.59

1.58

1.57

3.Q9

3.10

3.01

2.98

2.95

120.9

116.6

115.6

115.8

0.063

0.067

0.075

0.127
134.2

0.114
134.3

0.089

0.065

133.3

134.4

2.50

2.50

2.48

2.48

78.10
4.7

77.43

76.74

5.0

5.0

NA
NA

0.9
0.6

NA
NA

NA
NA
NA

NA
NA
-17.1
-5.9
30.8

NA
NA
43.5
77.0

NA

-15.7
-10.4
-18.3

-7.6
-3.3

-3.1

-10.9

602
264
616
621
647
648
625

1.6
0.4

781
750

-5.4

-3.2

NA
NA

D4. Price Movements

781. Consumer prices, all items ®
1957-59=100 ....
do
750. Wholesale prices, all commodities <§>....

0.4
0.2

0.4
0.6

1.5
1.5

E. ANALYTICAL MEASURES
E2. Analytical Ratios

850. Ratio, output to capacity, manufacturing2. .
851. Ratio, inventories to sales, manufacturing
and trade
852. Ratio, unfilled orders to shipments, mfrs.'
durable goods industries
853. Ratio, production of business equipment
to consumer goods
854. Ratio, personal savings to disposable
personal incowe
855. Ratio, nonagri cultural job openings
unfilled to persons unemployed . . . .
858. Output per man-hour, total private nonfarm. •
856. Real average hourly earnings, production

do

IQCT CD irm

2.48
1957-59 dollars-.
859. Real spendable average weekly earnings,
78.18
nonagri. production or nonsupv. workers. .
do
5.4
857. Vacancy rate in total rental housing 2 ® • • Pprppnt

78.28

5.0

-1.9

NA

-0.6

NA

-1.0

114.5

0.2

NA

1.3

NA
»1.1

0.3

0.063

NA

0.0

2.48

2.49

2.48

0.4

76.66

76.63

76.73

0.0

NA

-0.4

0.1

850
851

-2.9

852
853

11.9

854

-0.7

-27.0
0.8

855
858

-0.8

0.0

-21.9

-0.9

NOTE: Series are seasonally adjusted except for those indicated by®, which appear to contain no seasonal movement. "Series included in the 1966 NBER "short list" of indicators.
a = anticipated.
EOP = end of period.
1

0.6

-3.6

-1.0

6.3
0.063

-1.8

-0.9

0.3

0.0

856
859
857

NA = not available,

In many cases, data shown here are rounded to fewer digits or are in different units than those shown in the tables in part II. Where available, annual
figures are those published by the source agencies or they are rounded from published figures; otherwise they (and the quarterly figures for monthly series)
are averages or totals of the data as shown in part II.
Differences rather than percent changes are shown for this series.
3
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
*End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.




NATIONAL INCOME AND PRODUCT

GROSS NATIONAL PRODUCT

(July) (Aug.)

(Nov.) (Oct.)
P
T

1948 49

50

51

52

P

T

53

54

Current data for these series are shown on page 65.

KCII

AUGUST 1970



(May) (Feb.)
P T

(July) (Apr.)
P T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Section A

NATIONAL INCOME AND PRODUCT

Chart A2

NATIONAL AND PERSONAL INCOME

(Nov.) (Oct.)
P
T

(July)
P

(July) (Apr.)
P
T

(Aug.)
T

(May) (Feb.)
P
T

220. National income, current dollars, Q (am. rate, bil. dol.)

222. Personal income, current dollars, Q
(arm. rate, bit dot.)

224. Disposable personal income, current
dollars, Q (ami. rate, bil. dol.)

225. Disposable personal income, 1958 dollars,
Q (ann. rate, bit dol.)

226. Per capita disposable personal income, current dollars,
Q {am. rate, thous. dol.)

227. Per capita disposable personal income, 1958 dollars,
Q (arm. rate, thous. dol.)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 65.

10




AUGUST 1970

Section A

NATIONAL INCOME AND PRODUCT
PERSONAL CONSUMPTION EXPENDITURES

(July)
P

(Nov.) (Oct.)
P
T

(Aug.)
T

(July) (Apr.)
P
T

(May) (Feb.)
P
T

*""' **^ »^g?T
j-< *#«}• |

•$&"£&
&&* %

^

Wi&
ifgl

-,f";>; '%t

S~~^ ^^
j^S

- S^

[j|

. r^^

100 -,
908070Rn.

236. Nondurable goods, total,current Mars, Q

237. Services, total, current dollars, 0

1948

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 66.

BCII


AUGUST 1970


11

Section A

NATIONAL INCOME AND PRODUCT
GROSS PRIVATE DOMESTIC INVESTMENT

(Nov.) (Oct.)
P
T

1948

49

50

51

52

53

54

(May) (feb.)
P T

(July) (Apr.)
P T

(July) (Aug.)
P
T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

1970

Current data for these series are shown on page 66.

12




AUGUST

1970

Section A

NATIONAL INCOME AND PRODUCT
FOREIGN TRADE

(Nov.) (Oct.)
P
T

(July)

(Aug.)

P

T

(May) (Feb.)
P
T

(July) (Apr.)
P
T

Annual rate, billion dollars (current)

253. Imports of goods and services, Q

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 670

ItCII

AUGUST 1970



13

Section A

NATIONAL INCOME AND PRODUCT
GOVERNMENT PURCHASES OF GOODS AND SERVICES

(Nov.) (Oct.)
P
T

(July)
P

(July) (Apr.)
P
T

(Aug.)
T

(May) (Feb.)
P
T

Annual rate, billion dollars (current)

266. State and tocal governments, Q

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 67.




14

AUGUST 1970

Section A
| Chart

A7

NATIONAL INCOME AND PRODUCT
FINAL SALES AND INVENTORIES

(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(May) (Feb.)
P
T

(July) (Apr.)
P T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 67.


AUGUST 1970


ItCII

15

Section A

NATIONAL INCOME AND PRODUCT
NATIONAL INCOME COMPONENTS

(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (Feb.)
P
T

(July) (Apr.)
P
T

Annual rate, billion dollars (current)

5J

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on pages 67 and 68.




16

AUGUST

1970

ICO

Section A

NATIONAL INCOME AND PRODUCT
SAVING

(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (Feb.)
P T

(July) (Apr.)
P
T

Annual rate, billion dollars current)

surplus or deficit, Q

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 68.


http://fraser.stlouisfed.org/ AUGUST 1970
Federal Reserve Bank of St. Louis

17

CYCLICAL INDICATORS

Economic Process and Cyclical Timing

EMPLOYMENT AND UNEMPLOYMENT
Leading Indicators
(Nov.) (Oct.)
P
T

(July)
P

(July) (Apr.)
P
T

(Aug.)
T

(May) (Feb.)
P
T

rate, manufacturing (per 100 employees]
-•-™* -

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 69.




18

AUGUST 1970

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
EMPLOYMENT AND UNEMPLOYMENT—Con.

Roughly Coincident Indicators
(Nov.) (Oct.)
P
T

1948 49

(July) (Aug.)
P
T

50

51

52

53

54

(July) (Apr.)
P T

55

56

57

58

(May) (Feb.)
P
T

59

60

61

62

63

64

65

66

67

68

69 1970

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


AUGUST 1970


BCII

19

CYCLICAL INDICATORS Economic Process and Cyclical Timing

Section B

EMPLOYMENT AND UNEMPLOYMENT—Con.

Roughly Coincident Indicators—Con.
(Nov.) (Oct.)
P
T

(July)
P

(May) (Feb.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

2345
6
7

1
234- .
•
567-

23456-

Lagging Indicators

Ms and over (percent-inverted scale)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 70.




20

AUGUST 1970

ItCII

Section 8

CYCLICAL INDICATORS Economic Process and Cyclical Timing

Chart B2

PRODUCTION, INCOME, CONSUMPTION, AND TRADE

Roughly Coincident Indicators
(Nov.) (Oct.)
P
T

(May) (Feb.)
P T

(July) (Apr.)
P T

-.1000-1

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

NOTE: For this economic process (i.e., Production, Income, Consumption, and Trade), no leading or lagging indicators have as yet been selected.
Current data for these series are shown on page 71.


http://fraser.stlouisfed.org/AUGUST 1970
Federal Reserve Bank of St. Louis

KCII

21

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
PRODUCTION, INCOME, CONSUMPTION, AND TRADE—Con.

Roughly Coincident Indicators—Con.
(Nov.) (Oct.)
P
T

(July)
P

(July) (Apr.)
P
T

(Aug.)
T

(May) (Feb.)
P
T

Comprehensive Consumption and Trade
110
100

90
80

*56;l«facturing and toil sales (b». dol.)
70

60 J

1000-,
950900850800750700-

If

57. Final sales ($j|^200 minus seriefrl4§) f Q |ann. rate, bit. dol.|

S

650600550500-

*54. Sales flistaH stores (U. doi.)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

NOTE: For this economic process (i.e., Production, Income, Consumption, and Trade), no leading or lagging indicators have as yet been selected,
Current data fo these series are shown on page 71.




22

AUGUST 1970

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
FIXED CAPITAL INVESTMENT

Leading Indicators
(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(July) (Apr.)
P
T

(May) (Feb.)
P
T

68

69 1970

'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 page 720


http://fraser.stlouisfed.org/ AUGUST 1970
Federal Reserve Bank of St. Louis

BCII

23

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
FIXED CAPITAL INVESTMENT—Con.

Leading Indicators—Con.
(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (Feb.)
P
T

(July) (Apr.)
P
T

commercial and industrial (mil, sq. ft.

rale, mHlions; MCD moving avg.-5-term)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

'This is a copyrighted series used by permission; it may not be reproduced without written permission from the source agency.
Current data for these series are shown on pages 72 and 73.




24

AUGUST 1970

ItCII

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
FIXED CAPITAL INVESTMENT—Con.

Roughly Coincident Indicators
(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

53

54

(July) (Apr.)
P
T

(May) (Feb.)
P
T

Lagging Indicators

1948

49

50

51

52

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

'this is a copyrighted series used by permission; it may not be reproduced without written permission from the National Industrial Conference Board.
Current data for these series are shown on page 73.

BCII AUGUST



1970

25

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
INVENTORIES AND INVENTORY INVESTMENT

Leading Indicators
(Nov.) (Oct.)
P
T

(July)
P

(May) (Feb.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

, all Industries, Q (m. rate, ML dol.)

+20-,
+10-

0-

-10-

and trade inventories

+20-i

moving avg.-5-term]

+10-

«
S
0-

-10-

chased materials, percent of companies reporting higher inventories

755025-

angeinbook
m. rate, bil.

lanufacturers' inventories of materials and supplies
moving avg.-6-term)

+10-,
+50-

-5-

100materials, percent of companies
60 days or longer

7550-

J
1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

25J

69 1970

Current data for these series are shown on page 74.




26

AUGUST 1970

BCII

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
INVENTORIES AND INVENTORY INVESTMENT—Con.

Leading Indicators—Con.
(Nov.) (Oct.)
P
T

(July)
P

(May) (Feb.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

32. Vendor performance, percent of companies reporting slower Merles

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

NOTE: For this economic process (i.e., Inventories and Inventory Investment), no roughly coincident indicators have as yet been selected.
Current data for these series are shown on page 74.

licit

AUGUST 1970



27

Section B

CYCLICAL INDICATORS

Economic Process and Cyclical Timing

PRICES, COSTS, AND PROFITS

Leading Indicators
(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(July) (Apr.)
P
T

(May) (feb.)
P
T

Sensitive Commodity Prices

500 common

(index: 1941-43-10)

*16. Corporate
Silt

after taxes, Q {ann. rate, bit. dot.]
A
'/:>"

22. Ratio, proms (after taxes) to income originating,
corporate, ait industries, Q (percent)

dollar of sales, manufacturing, Q [cents)

1

1948

49

50

51

52

53

54

55

56

57

58

59

cost, manufacturing

60

61

62

63

64

65

66

67

68

69

1970

Current data for these series are shown on page 75.


28


AUGUST

1970

IICII

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
PRICES, COSTS, AND PROFITS—Con.

Roughly Coincident Indicators
(July)
P

(Nov.) (Oct.)
P
T

(Aug.)
T

(July) (Apr.)
P
T

(May) (Feb.)
P
T

Lagging Indicators

manufacturing [index: 1957-59 =100]

1948

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 75.


AUGUST 1970


BCII

29

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
MONEY AND CREDIT

Leading Indicators
(Nov.) (Oct.)
P
T

(July)
P

(May) (Feb.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

Change to mortgage debt (ann. rate, bil. dol.)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 76.




30

AUGUST 1970

lt€l»

Section B
1 Chart

B6

CYCLICAL INDICATORS Economic Process and Cyclical Timing
MONEY AND CREDIT—Con.

Leading Indicators—Con.
(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(May) (Feb.)
P T

(July) (Apr.)
P T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 76.


AUGUST 1970


B€l»

31

CYCLICAL INDICATORS Economic Process and Cyclical Timing

Section B

MONEY AND CREDIT—Con.

Roughly Coincident Indicators
(July)
P

(Nov.) (Oct.)
P
T

(Aug.)
T

(July) (Apr.)
P T

(May) (Feb.)
P T
-1.51
-1.0-0.5-

0J

7-

6-

J

4J

7-

116. Corporate bond yields (percent)

5-1

6-

115. Treas|||$nd yields (percent}

IS?

17. Mumapal tend y,elds (percent)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 77.




32

AUGUST 1970

ItCII

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing

Chart B6

MONEY AND CREDIT—Con.

Lagging Indicators
(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (-Feb.)
P
T

(July) (Apr.)
P
T

\;':«**^S^

-' -V:{ °^^^^

120

.^.liil^.^^M ^%ilj^iSl^lkk^M^ Ji.j^^i£lS^|.J4-^r^^-^^^" 100

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 77.

ItCII


AUGUST 1970


33

Section B

CYCLICAL INDICATORS Selected Indicators by Timing
COMPOSITE INDEXES

(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(May) (Feb.)
P
T

(July) (Apr.)
P
T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 78. Numbers entered on the chart indicate length of leads (-) and lags ( + ) in months from reference turning dates.
1 Reverse trend adjusted index of 12 leaders contains the same trend as the index of 5 coincident indicators




34

AUGUST 1970

licit

Section B

CYCLICAL INDICATORS Selected Indicators by Timing
COMPOSITE INDEXES—Con.

(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(May) (Feb.)
P
T

(July) (Apr.)
P
T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 78.


AUGUST 1970


!!€!»

35

Section B

CYCLICAL INDICATORS Selected Indicators by Timing
NBER SHORT LIST

Leading Indicators
(July)
P

(Nov.) (Oct.)
P
T

(Aug.)
T

(July) (Apr.)
P T

(May) (Feb.)
P
T

42 T

*10 Contracts and wders, plant and

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on pages 69, 72, and 73.




36

AUGUST 1970

BCII

Section B

CYCLICAL INDICATORS Selected Indicators by Timing
NBER SHORT LIST—Con.

Leading Indicators—Con.
(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(July) (Apr.)
P T

55

56

57

58

(May) (Feb.)
P T

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on pages 74, 75, and 76.

ItCII

AUGUST 1970



37

Section B

CYCLICAL INDICATORS Selected Indicators by Timing
NBER SHORT LIST—Con.

Roughly Coincident Indicators
(July)
P

(Nov.) (Oct.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

(May) (Feb.)
P
T
1000 n

*200. GNP in current dollars, Q (ann. rate, bil. dot.)

*205. GNP in 1958 dollars,
Q (ann. rate, bil. dol.)

*47. todustr^duction (Index: ^7-59-100}
"

*43. Unemployment rate, total (percent-inverted scate)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on pages 70 and 71.

38




AUGUST 1970

Section B

CYCLICAL INDICATORS Selected Indicators by Timing
NBER SHORT LIST—Con.

Lagging Indicators
(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (Feb.)
P
T

(July) (Apr.)
P
T

15 weeks mid over (percent-inverted scale)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on pages 70, 73, 74, 75, and 77.

BCII

AUGUST 1970



39

ANTICIPATIONS AND INTENTIONS

AGGREGATE SERIES

(July)
P

1957

(May)
P

(Apr.)
T

58

59

(Feb.)
T

60

61

62

63

64

65

66

67

68

69

70

1971

Current data for these series are shown on page 79.

40




AUGUST 1970

ltd*

Section C

ANTICIPATIONS AND INTENTIONS
AGGREGATE SERIES—Con.

(July)
P

(May)
P

(Apr.)
T

(Feb.)
T

m

180-

120-

110-

JL
txxik vabe,Q (bil. dol.)

7060-

414. Condition of manufacturers' inventories:
percent considered high less percent

30-

/>
/

__:.AA ^ /

v-

20-

B

10-

0J

416.1

f manufacturers' capacity: percent
'"V"\

30 J

1957

58

59

60

61

62

63

64

65

66

67

68

69

70

1971

Current data for these series are shown on page 79.


LI) AUGUST 1970


41

Section C

ANTICIPATIONS AND INTENTIONS
AGGREGATE SERIES-Con.

(July)
P

(Apr.)
T

(May) (Feb.)
P
T

compared to income a year ago, Q

60 -,

households reporting no change to family income {percent}

50-

40-

jrcent of households reporting higher family income (percent)
30-

20-

ercent of households reporting tower family income (percent)

10-

020

.*.

ges to income of households, Q

,-N / '^W'"^

fa) Mean probability of increase to family income (percent)

"

15-

/v
,*. />
.-,/ ^-x v \

(b) Increase less decrease (percent)

10-

E3
..«».-*-. .^.^.^-..^ ^f.*.^--*"^

(c) Mean probability of decrease to family income (percent)

510-,

9-

(a)

S

7-1

110105-

(d) Anticipations as percent of actual data (percent)

urn
•H

100959085-

110100908070-

1957

58

59

60

61

62

63

64

65

66

67

68

69

70

1971

Current data for these series are shown on page 79.




42

AUGUST 1970

BCII

Section C

ANTICIPATIONS AND INTENTIONS
DIFFUSION INDEXES

(July)
P

(May)
P

(Apr.)
T

(Feb.)
T

New orders, manufacturing (4-Q span)1

rofits, manufacturing and trade (44 span)1

manufacturing and trade (4-Q span)1

manufacturing and trade M span)1

1957

58

59

60

61

62

63

64

65

66

68

69

70

1971

Current data for these series are shown on page 80.
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.


AUGUST 1970


BCII

43

Section C

ANTICIPATIONS AND INTENTIONS
DIFFUSION INDEXES—Con.

(July)
P

(Apr.)
T

(May)
P

(Feb.)
T

fciventoftes, manufacturing and trade (4-Q span}1

letting prices, manufacturing aid trade [4-Q span)1

Seing prices, manufacturing 14-Q span)1

Sellng prices, wholesale trade (4-Q span)

1957

58

69

70

1971

Current data for these series are shown on page 80.
'this is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.

44




AUGUST

1970

IICII

Section C

ANTICIPATIONS AND INTENTIONS
DIFFUSION INDEXES—Con.

(July)
P

(May)
P

(Apr.)
T

(Feb.)
T

expenditures for new plant and equipment, all industries (1-Q span

480. Change in freight carloadings (44 span)
of cars)

1957

58

59

60

61

62

63

64

65

66

67

68

69

70

1971

Current data for these series are shown on page 81.

BUI


AUGUST 1970


45

OTHER KEY INDICATORS

FOREIGN TRADE

1948 49

50

51

52

53

54

(May) (Feb.)
P T

(July) (Apr.)
P T

(July) (Aug.)
P
T

(Nov.) (Oct.)
P
T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

1970

Current data for these series are shown on page 82.

46




AUGUST 1970

ItCII

Section D

OTHER KEY INDICATORS

Chart D2

BALANCE OF PAYMENTS AND MAJOR COMPONENTS

§20. Liquidity balance basis
(Change ii U.S. official reserve assets and change
fc fiquid liabilities to aH foreigners)

o-

-1-

522. Official settlements basis
(Change in U.S. official reserve assets, am! change
in Squid Mabilrties plus certain mmlquid HabHities
fc foreign monetary official agencies}

-2-

-3J
Annual rate, billon dollars

-1-16Excess of receipts (inflow)
Excess of payments (outflow)

+12-

525. Net capital movements, fiquidity balance basis1

0520. Liquidity balance

-4+12-

+8522. Official settlements balance
+4-

250. Balance on goods and services

^
0-

-4J

1948 49

50

51

52

53

54

55

56

57

58

59

60

Current data for these series are shown on page 83. Annual totals are used prior to 1960 except for series 520.
*The 1970 figures for series 520, 522, 525 and 527 include $217 million allocation of Special Drawing Rights.


IBM!
AUGUST 1970


61

62

63

64

65

66

67

68

69 1970

Includes unilateral transfers and errors and omissions.

47

Section D

OTHER KEY INDICATORS
BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.

Major Components, Except Military Grants
of Goods and Services-Con.

48 n

Billion dollars!

44-

40-

36-

32-

530. Liquid liabilities to all foreigners, outstanding at end of period
28-

24-

20-

AVLJr"A*
"

16J

/

^

12-

Cities to
. liquid and'cei
foreign official agencies, outstanding at end of period

4.
24§34. U.S. official reserve assets-reserve position at end of period
20-

16-

12-I
1948

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 83. End of year figures are used prior to 1960.

AQ

40


AUGUST 1970

IICII

Section D

OTHER KEY INDICATORS
BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.

60-1

56-

52-

48-

44-

44-

40

36 ^

28

20-

18-

12-

investment income, military sates
and expenditures, and other services-

4-1

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 83. Annual totals are used prior to 1960.


AUGUST 1970


49

Section D

OTHER KEY INDICATORS
BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.

Investment Income, Military Sales
and Expenditures, and Other Services

Annual rate, bllion dollars
Excess of receipts (inflow)
excess of payments (outflow)

12 T

542. income on U.S. investments abroad
4-

0J

543. Income OR foreign investments

Travel*

4545. Payments by U.S. travelers abroad

(H

§44, Receipts from foreign travelers in the U.S.

547. U.S. military

abroad
4-

546. Military sales to foreigners

Transportation and other services4-

0J

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 84. Annual totals are used prior to 1960.




50

AUGUST 1970

ItCII

Section D

OTHER KEY INDICATORS
BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.

Capital Movements Plus Government
Nonmilitary Unilateral Transfers

investments abroad

+4-

0J

+4-

570. Government grants and capital transactions, net

0-

-4-

-8J

575. Banking and other capital transactions, net
0-

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 84. Annual totals are used prior to 1960.

ItCII


AUGUST 1970


51

Section D

OTHER KEY INDICATORS
FEDERAL GOVERNMENT ACTIVITIES

(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (Feb.)
P
T

(July) (Apr.)
P
T

and product accounts, Q [am. rate, bil. dol.)

and product accounts, Q (aim. rate, bil. dol.)

and product accounts, Q (ann. rate, bil. dol.)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 85.




52

AUGUST 1970

BCII

Section D

OTHER KEY INDICATORS
FEDERAL GOVERNMENT ACTIVITIES—Con.

(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(July) (Apr.)
P
T

(May) (Feb.)
P
T
lOO-i
90807060509-.

87-

616. Defense Department obligations, total (bil. do).; MCD moving avg.-6-term)

65-

621, Defense Department obligations, procurement
M. dol.; MCD moving avg.-6-term

61
5-

647. HW inters, defense products industries
(M. do!.; MCD moving avg.-6-term)

2-

defense
products
(bH. dol.)

1 j
5'

(bil. dol.; MCD moving avg.-6-term)
3-

2-

1J

1948

49

50

51

52

53 v 54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 85.

ItCII


AUGUST 1970


53

Section D

OTHER KEY INDICATORS
PRICE MOVEMENTS

(May) (Feb.)
P T

(July) (Apr.)
P T

(July) (Aug.)
P
T

(Nov.) (Oct.)
P
T

140135130125 -:

1

.32
S

858075-

70 -I

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 86.

54




AUGUST

1970

lt€l»

Section D

OTHER KEY INDICATORS
PRICE MOVEMENTS—Con.

(Nov.) (Oct.)
P
T

1948 49

50

51

52

(July)
P

(Aug.)
T

53

54

(May) (Feb.)
P
T

(July) (Apr.)
P
T

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 86.

BCII

AUGUST 1970



55

ANALYTICAL MEASURES

Chart El

ACTUAL AND POTENTIAL GROSS NATIONAL PRODUCT

(Nov.) (Oct.)
P
T

(July)
P

(May) (Feb.)
P
T

(July) (Apr.)
P T

(Aug.)
T

Gross National Product in 1958 dollars, Q
ann rate hil dot I

380-'

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

1
Current data for these series are shown on page 87.
Trend line of 3.5 percent per year (intersecting actual line in middle of 1955) from 1st quarter 1952 to 4th quarter 1962, 3.75 percent from
4th quarter 1962 to 4th quarter 1965, 4 percent from 4th quarter 1965 to 4th quarter 1969 and 4 3 percent from 4th quarter 1969 to 2d quarter 1970.

56




AUGUST 1970

BCII

Section E

ANALYTICAL MEASURES
ANALYTICAL RATIOS

(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(May) (Feb.)
P
T

(July) (Apr.)
P
T

852. Ratio, unfitted orders to shipments,
.
manufacturers' durable goods Industries

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 88.

AUGUST 1970




57

Section E

ANALYTICAL MEASURES
ANALYTICAL RATIOS—Con.

(July)
P

(Nov.) (Oct.)
P
T

(Aug.)
T

(May) (Feb.)

(July) (Apr.)
P
T

hourly earnings, production workers,
7-59 dollars)

in total rental housing, Q (percent)

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 88.

58




AUGUST 1970

BCIt

Section E

ANALYTICAL MEASURES
DIFFUSION INDEXES

Leading Indicators
(Nov.) (Oct.)
P
T

(July)
P

(Aug.)
T

(July) (Apr.)
P
T

(May) (Feb.)
P
T

production workers, manufactu

industries 9-mo, span— , t-mo. span-H

industries (9-mo. span—, 1-mo

New orders, <tat|

s, NICB (3-0 span*-**, 1-Q span,. .)'

1,000 manufacturing corporations (1-Q span)

_ !
industries (9-mo. span—, 1-mo. span

023. Industrial

pricts-!3

materials (9-mo. span — , 1-mo. span

-47 areas ipercentdedming; 9-mo. span—, 1-mo. span-—)

1948

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

1

This is a copyrighted series used by permission; it may not be reproduced without written permission from the National Industrial Conference Board.
Current data for these series are shown on pages 89 and 90.

BCII

AUGUST 1970




59

Section E

ANALYTICAL MEASURES
DIFFUSION INDEXES—Con.

Roughly Coincident Indicators
(Nov.)
P

(Oct.)
T

(July)
P

(May) (Feb.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

Percent rising

D%ftii$oyees on non^ficu!ti«Klpyrofls~30 industries (6-mo. span—, 1-mo. span—-)

D47. Industrial production-24 industries (6-mo. span—, 1-mo. span—)

100-1
50-

D58. Wholesale prices, manufactured goods-22 industries (6-mo. span—, 1-mo. span-—)
100-,

50-

D54. Sales of retail stores-23 types of stores (9-mo. span—, 1-mo. span

1948

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 91.

60




AUGUST 1970

BCII

Section E

ANALYTICAL MEASURES
RATES OF CHANGE

(July)
P

(May)
P

(Apr.)
T

(Feb.)
T

200. (e) SHE In current

?ftj» (p.) KMP Hi gfltistaiit finllars [141 span)

820. Composite index of 5 coincident indicators (series 41,43, 47, 52, 561

48. Man-hours in nonagricultural establishments

52. Personal income

ATI Imtey nf industrial prnrinrtinn

55. Index of wholesale prices, industrial commodities

781. Index of consumer prices, an items

1957

58

59

60

61

62

63

64

65

1971

To locate basic data for these rates of change, consult "Index—Series Finding Guide,' ppu 113 and 114

BCII


AUGUST 1970


61

Section

F

INTERNATIONAL COMPARISONS

140-1

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 98.

62




AUGUST

1970

ItCII

Section F

INTERNATIONAL COMPARISONS
INDUSTRIAL PRODUCTION

280 -,
260240220200180160-

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 99.

AUGUST 1970



63

Section F

INTERNATIONAL COMPARISONS
STOCK PRICES

360

1

320H
280-1
240-j
200 -

40-

1948

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on page 100.

64




AUGUST 1970

BCII

NATIONAL INCOME AND PRODUCT

GROSS NATIONAL PRODUCT
Year
and
quarter

a. Total
(Ann. rate,
bil. dol.)

b. Difference
(Ann. rate,
bil. dol.)

210. Implicit price deflator

205. Constant (1958) dollars

200. Current dollars

b. Difference

a. Total

c. Percent
change
at annual
rate

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

b. Difference

a. Total

c. Percent
change
at annual
rate

(Index:
1958-100)

{Index:
1958=100)

c. Percent
change
at annual
rate

1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

774.4
784.5
800.9
815.9

t-3.7
+10.1
-t-16.4
-1-15.0

+1.9
+5.3
T-8.6
-r7.7

666.6
671.6
678.9
683.6

-1.5
+5.0
+7.3
+4.7

-0.9
+3.0
+4.4
+2.8

116.2
116.8
118.0
119.4

+0.8
+0.6
+1.2
+1.4

+2.8
+2.2
+4.0
+4.7

834.9
858.1
875.8
891.4

+19.0
+23.2
+17.7
+15.6

+9.6
+11.6
+8.5
+7.3

693.5
705.4
712.6
717.5

+9.9
+11.9
+7.2
+4.9

+5.9
-r2.8

120.4
121.6
122.9
124.2

+1.0
+1.2
+1.3
+1.3

+3.5
+4.3
+4.2
-r4.5

907.6
923.7
942.6
951.7

+16.2
+16.1

+7.4
-r7.3
+8.4
+3.9

722.1
726.1
730.9
729.2

+4.6
+4.0
t4.8
-1.7

+2.6
+2.2
+2.7
-0.9

125.7
127.2
129.0
130.5

+1.5
-rl.5
+1.8
+1.5

+4.7
-r5.0
+5.6
-r4.9

959.5
r971.1

+7.8
r+lL.6

+3.3

723.8
r724,9

-5.4

-2.9
r+0.6

132.6
r!34.0

+2.1

r-rl.l

IH-1.4

+6.4
r+4.3

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

-t-7.1

+4.2

1969
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

+18.9
+9.1

1970
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

GROSS NATIONAL
PRODUCT--Con.
Year
and
quarter

NATIONAL AND PERSONAL INCOME

215. Per capita 217. Per capita 220. National
income in curGNP, constant
GNP, current
rent dollars
(1958) dollars
dollars

(Ann. rate,
dollars)

1967
First quarter...
Second quarter.
Third quarter..
Fourth quarter..

(Ann. rate,
dollars)

(Ann. rate,
bil. dol.)

222. Personal
income in current dollars

(Ann. rate,
bil. dol.)

Disposable personal income
224. Current
dollars

225. Constant
(1958) dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

226. Per capita, 227. Per capita,
current dollars
constant(1958)
dollars
(Ann. rate,
(Ann. rate, dol.)
dollars)

3,904
3,945
4,016
4,079

3,361
3,377
3,404
3,418

638.5
646.0
658.3
671.6

614.2
622.1
634.7
646.3

533.4
541.3
550.7
559.9

470.8
475.8
479.7
483.9

2,689
2,722
2,761
2,800

2,373
2,393
2,405
2,419

4,165
4,271
4,347
4,412

3,460
3,511
3,537
3,551

687.2
706.1
722.2
735.2

664.0
680.9
697.6
712.5

574.9
588.4
595.6
606.0

492.3
498.6
501.2
504.0

2,868
2,928
2,956
2,999

2,456
2,482
2,488
2,495

4,483
4,551
4,632
4,663

3,566
3,578
3,592
3,573

749.3
764.0
779.5
785.2

725.8
741.1
758.1
770.5

612.0
623.0
640.6
650.6

504.7
507.5
515.9
517.8

3,023
3,070
3,148
3,188

2,493
2,501
2,535
2,537

4,690
r4,734

3,538
r3,534

791.5
P797.7

782.3
r801.3

665.3
r683.6

522.9
r532.0

3,252
r3,333

2,556
r2,594

1968
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

1969
First quarter...
Second quarter.
Third quarter..
Fourth quarter .

1970
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for
identification only and dp not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA\ not available.

ItCII AUGUST 1970




65

NATIONAL INCOME AND PRODUCT

PERSONAL CONSUMPTION EXPENDITURES

Year

and

230. Total in
current dollars

231. Total in
constant(1958)
dollars

232. Durable
goods, total in
current dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

quarter

1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

234. Automobiles
233. Durable
goods, total except in current dollars
autos, in current
dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

237. Services in
current dollars

236. Nondurable
goods in current
dollars

480.7
489.6
495.5
502.5

424.2
430.3
431.6
434.3

69.8
73.6
73.7
75.3

46.7
47.6
48.1
50.3

23.1
26.0
25.6
25.0

213.1
214.2
215.5
217.1

197.8
201.8
206.3
210.1

519.7
529.1
543.8
550.8

445.0
448.4
457.7
458.1

79.9
82.6
86.7
86.9

51.5
53.4
54.7
55.6

28.4
29.2
32.0
31.3

225.6
227.6
232.6
234.8

214.2
218.9

561.8
573-3
582.1
592.6

463.3
467.1
468.7
471.7

89.1
90.6
89.5
90.8

57.6
59.1
57.9
58.3

31.5
31.5
31.6
32.5

239.2
244.0
252.0

233.5
238.7
244.5
249.8

603.1
r6l4.4

474.0
r478.1

r.91.9

89.1

60.2
r6l.5

28.9
30.4

258.8
1-262.6

255.2
r259.9

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

224.5
229.0

1969
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

248.1

1970
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

GROSS PRIVATE DOMESTIC INVESTMENT IN CURRENT DOLLARS
Year
and
quarter

240. Total

241. Nonresidential
fixed investment

(Ann. rate,
bil. dol.)

1967
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

(Ann. rate,
bil. dol.)

242. Nonresidential
structures

(Ann. rate,
bil. dol.)

243. Producers'
durable equipment

(Ann. rate,
bil. dol.)

244. Residential
structures

245. Change in
business inventories

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

114.0
110.7
118.6
123.0

82.9
82.9
83.3
84.1

29.0
27.3
27.9
28.0

53.9
55.6
55.4
56.2

21.6
23.3
26.6
28.8

+10.0

119.8
127.3
126.5
132.6

88.3
86.4
88.3
91.6

29.8
28.9
29.4
30.3

58.5
57.5
59.0
61.3

28.8
30.6
29.9
31.7

+2.6
+10.4
+8.2
+9.3

136.0
139.3
143.8
140.2

95.7
97.5

63.1
65.2
66.3
67.5

33.0
33.9
31.0
30.4

+7.4
+7.9

101.5
102.6

32.6
32.3
35.2
35.1

133.2
r!34.3

102.6
r!02.8

35.7

66.9
r-67.5

r28.4

+9.6

+4.5
+8.7

1968
First quarter...
Second quarter.
Third quarter..
Fourth quarter..

1969
First quarter...
Second quarter.
Third quarter..
Fourth quarter .

+11.3
+7.2

1970
First quarter...
Second quarter.
Third quarter..
Fourth quarter..

29.1

+1.6
r+3.1

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

66




AUGUST 1970

BCII

NATIONAL INCOME AND PRODUCT

H

Qj FOREIGN TRADE IN CURRENT DOLLARS
Year
and
quarter

250. Net exports
of goods and
services

(Ann. rate,
bit. dol.)

253. Imports
of goods and
services

252. Exports
of goods and
services

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

GOVERNMENT PURCHASES OF GOODS AND SERVICES
IN CURRENT DOLLARS

260. Total

264. National
defense

262. Federal

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil. dol.)

266. State and
local

(Ann. rate,
bil.dol.)

1967

First Quarter
Second quarter. ....
Third quarter. .....
Fourth quarter
1968

+5.5
+5.8
+5.6
+4.0

45.8
46.0
46.3
46.8

40.4
40.1
40.7
A2.8

174.2
178.4
181.3
186.5

87.7
90.1
91.4
93.6

69.9
71.8
73.0
74.7

86.5
88.2
89.9
92.9

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

+1.8
t-3.4
+3.4
+1.4

47.7
50.7
53.2
50.9

45.9
47.3
49.8
49.5

193-7
198.3
202.1
206.7

96.4
98.9
100.7
101.9

76.3
77.8
78.6
79.2

97.2
99.4
101.4
104.7

+1.3
+1.3
+2.6
+2.6

47.8
57.2
58.3
58.8

46.5
55.9
55.6
56.2

208.5
209.9
214.1
216.3

100.9
99.8
102.5
102.1

78.6
77.9
79.8
78.8

107.5
110.1
111.6
114.2

+3.5
r-t-4.1

61.1
r62.8

57.6
58.7

219.6
r218.4

102.3
r99.7

79.3
r76.8

117.4
118.7

1969

First quarter.. ....
Second quarter. ....
Fourth quarter
1970
First quarter. .....
Second quarter ....
Third quarter.
Fourth quarter

B

Qj FINAL SALES AND INVENTORIES IN CURRENT DOLLARS
Year
and
quarter

Durable goods
270. Final sales
(Ann. rate,
bil.dol.)

280. Compensation 282. Proprietors'
income
of employees

Nondurable goods

271. Change in
274. Final sales
business inventories
(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

NATIONAL INCOME COMPONENTS
IN CURRENT DOLLARS
284. Rental income
of persons

275. Change in
business inventories
(Ann. rate,
bil. dol.)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil.dol.)

1967

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

+5.6
+6.1

230.8
234.0
235.5
236.5

+4.6
+2.4
+3.1
+3.9

455.3
460.9
470.9
481.8

60.9
62.0
62.9
62.9

20.7
21.1
21.3
21.3

165.2
168.0
173.1
175.3

+2.5
+7.1
+5.8
+7.2

246.4
249.8
255.9
258.0

+0.1
+3.2
+2.4
+2.1

495.3
507.6
520.9
532.5

62.9
63.8
64.4
65.2

21.3
21.3
21.3
21.3

180.5
182.7
184.8
187.4

+5.6
+6.7
+7.9
+5.3

260.4
266.1
270.1
274.3

+1.8
+1.2
+3.5
1-1.9

544.9
557.5
572.2
582.1

66.0
66.7
67.5
67.2

21.6
22.0
22.1
22.3

185.5

-0.3
P-1.9

280.0
P283.3

+1.9
1*5.0

592.2
r596.4

67.6
67.8

22.5
22.6

151.5
158.2
157.6
158.5

+5.0
-t-2.1

1968

First quarter
Second quarter ....
Third quarter
Fourth quarter.
1969

First quarter
Second quarter —
Third quarter
Fourth quarter ....
1970

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

P188.5

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicatedI by ®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary;
V, estimated; "a", anticipated; and "NA", not available.

!!€!»

AUGUST 1970



67

NATIONAL INCOME AND PRODUCT

H
Year
and
quarter

NATIONAL INCOME COMPONENTS
IN CURRENT DOLLARS-Con.

286. Corporate
profits and
inventory valuation adjustment
(Ann. rate,
bil. dol.)

288. Net interest

(Ann. rate,
bil. dol.)

Q SAVING IN CURRENT DOLLARS
290. Gross saving 292. Personal
saving

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

294. Undistributed 296. Capital consumption
corporate profits
plus inventory valu- allowances
ation adjustment
(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

298. Government
surplus or deficit

(Ann. rate,
bil. dol.)

1967
First quarter
Second quarter.
Third quarter
Fourth quarter
1968

78.3
78.0
78.4
80.0

23.3
24.0
24.8
25.6

117.1
114.0
120.8
125.8

39.3
37.6
41.3
43.3

24.5
23.5
23.9
24.5

66.9
68.2
69.5
71.0

-13.6
-15.3
-13.9
-13.0

First quarter
Second quarter.
Third quarter
Fourth quarter

81.3
86.0
87.4
87.1

26.4
27.3
28.2
29.1

121.6
129.6
129.8
133.5

40.8
44.5
36.5
39.6

19.3
22.6
23.3
21.3

72.3
73.7
74.6
75.5

-10.7
-11.2
-4.5
-2.9

87.1
87.4
86.8
82.0

29.7
30.4
31.0
31.7

138.5
142.5
149.1
144.2

34.3
33.3
42.0
41.1

19.6
19.2
19.7
15.4

77.0
78.2
79.4
80.7

+7.7
+11.8
+8.0
+7.1

76.7
P77.8

32.4
33.1

139.3
P138.8

44.8
r51.5

13.6
P14.7

82.1
r83.6

-1.2
p-11.0

1969
First quarter
Second quarter. ....
Third quarter
Fourth quarter
1970
First quarter
Second quarter
Third quarter.
Fourth quarter

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
V, estimated; aa", anticipated; and "NA", not available.

68



AUGUST 1970

BCII

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

Rl EMPLOYMENT AND UNEMPLOYMENT

Minor Economic
Process

Year
and
month

ROUGHLY COINCIDENT
INDICATORS

LEADING INDICATORS

TIMING CLASS ....

Marginal Employment Adjustments

*1. Average
workweek of
production work5rs, manufacturing1
(Hours)

4. Nonagricul2. Accession
21. Average
weekly overtime tural placements, rate, manufac1
turing1
hours, production all industries
workers, manufacturing1

(Per 100
employees)

(Thous.)

(Hours)

Job Vacancies

*5. Average
weekly initial
claims for unemployment insurance, State programs 2
(Thous.)

3. Layoff rate,
manufacturing

(Per 100
employees)

49. Nonagricultural job
openings unfilled 1

46. Index of
help-wanted advertising in newspapers

(Thous.)

(1957-59-100)

(3)

1968
January
February
March

40.2
40.7
40.7

3.4
3.5
3.5

478
471
481

4.5
4.6
4.3

206
196
194

1.3
1.3

April
May
June

40.1
40.9
40.9

3.1
3.6
3.7

487
475
486

4.7
4.7
4.4

193
195
194

1.2

July
August
September

40.9
40.7
40.9

3.6
3.6
3.7

520
477
478

4.7
4.7
4.6

October
November
December . .
1969
January
February
March

40.9
40.8
40.8

3.7
3.8
3.7

466
454
443

40.6
40.1
40.9

3.8
3.5
3.7

April
May
June

40.8
40.7
40.7

July
August
September

359
363
371

191
191
194

1.2
1.1

380
394
386

197
197
197

189
199
194

1.3
1.4
1.2

375
367
376

204

4.8
4.8
4.9

188
190
190

1.2
1.1
1.1

374
372
373

223
222
225

448
459
439

4.9
4.7
4.8

E)179
186
185

1.1
1.1
1.1

372
375
365

224
229
231

3.7
3.7
3.7

447
434
456

4.9
4.8
4.9

181
182
197

1.1
1.1
1.2

377
387
383

234
233
228

40.6
40.6
40.7

3.6
3.6
3.6

438
A25
421

4.7
4.5
4.8

195
196
200

iB>i.i
1.2
1.2

358
346
346

r228
224
[H>235

October
November
December
1970
January
February
March

40.5
40 5
40 7

3.5
3 5
3 5

405
401
376

4.7
4.4
4.6

202
211
210

1.3
13
1.4

343
338
319

227
222
217

40.3
39 9
40.2

3.3
3.2
3.2

387
361
357

4.2
4.3
3.9

232
250
263

1.5
1.7
1.8

314
306
292

203
203
194

April
May
June

40.0
39.8
39.8

3.0
2.9
3.1

349
338
322

4.0
4.2
4.0

326
313
303

2.0
1.9
rl.9

272
257
245

186
180
175

rrt 0

(NA)

P3.9

265

pi. 5

(NA)

p!72

July
August
September

r/30

q

1.2

208
218

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @ . Current high values are
indicated by 0); for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
0).
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The "r" indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.
^•Series that reached their high values prior to 1968 are as follows: Series 1, high value (41.6) reached in Mar. 1966; Series
21, high value (4.1), in May 1966; Series 4, high value (586), in May 1962; Series 2, high value (5.2), in Mar. 1966; Series 49,
high value (437), in July 1966. 8Data exclude Puerto Rico which is included in figures published by source agency. 3See "New
Features and Changes for This Issue," page iii.
BCD

AUGUST 1970




69

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS
TIMING CLASS

Rl EMPLOYMENT AND UNEMPLOYMENT-Con.

Minor Economic
Process

Year
and
month

LAGGING
INDICATORS

ROUGHLY COINCIDENT INDICATORS-Con.

....

Comprehensive Employment

48. Man-hours
in nonagricultural
establishments
(Ann. rate, bil.
man-hours)

*41. Number of
employees on
nonagricultural
payrolls,
establishment
survey
(Thous.)

Long-Duration
Unemployment

Comprehensive Unemployment

42. Persons
engaged in
nonagricultural
activities, labor
force survey
(Thous.)

*43. Unemployment rate, total

(Percent)

45. Average
weekly insured
unemployment
rate, State
programs1

40. Unemployment rate,
married males

(Percent)

(Percent)

1968
January
February
March

131.69
133.45
133.60

66,754
67,166
67,306

71,035
71,484
71,706

3.6
3.8
3.7

2.3
2.3

Apri 1
May
June

133.69
134 31
134. 89

67,500
67,567
67,809

71,726
72,115
72,232

July
August
September

135 41
135.67
135.67

67,962
68,152
68,288

October
November
December

136.07
136 15
136.60

January
February
March

*44. Unemployment rate, persons
unemployed 15
weeks and over

(Percent)

2.2

1.7
1.7
1.7

0.6
0.6
0.6

3.5
3.6
3.7

2.1
2.2
2.2

1.6
16
1.7

0 5

72,171
72,242
72,381

3.7
3.5
3.5

2.3
2.3
2.1

1.6
1.6
1.6

0 6

68,547
68,805
69,039

72,537
72,689
72,913

3.5
3.4
3.3

2.0
2.0
2.0

1.6
1.6
1.4

0.5

137.22
137.21
138.41

69,352
69,605
69,827

73,364
73,688
73,940

3.4
E)3.3

3.4

2.1
2.1
2.0

1.4
1.4
E>1.4

0.4
0.4
0.4

April
May
June

138.60
139.22
139.26

69,992
70,172
70,347

73,928
73,544
74,058

3.5
3.5
3.4

2.0
!>2.0
2.1

1.5
1.5
1.5

0.5
0.5
0.5

July
August
September

139.50
139.75
139.76

70,400
70,497
70,567

74,370
74,528
74,696

3.5
3.5
3.8

2.2
2.1
2.2

1.6
1.5
1.7

0.5
0.5
0.5

October
November
December

139.90
139.97
H> 140.25

70,836
70,808
70,842

74,999
75,094
75,302

3.8
3.5
3.5

2.2
2.3
2.3

1.6
1.5
1.7

B)0.4

139.44
139.70
140.21

70,992
71,135
H> 71,256

E> 75, 615
75,323
75,562

3.9

4.2
4.4

2.5
2.6
2.7

1.8
2.0
2.2

0.5
0.6
0.7

April
May
June

139.74
r!39.05
r!38.33

71,163
170,852
r70, 598

75,338
74,836
74,671

4.8
5.0
4.7

3.1
r3.5
3.7

2.4
2.6
2.5

0.7
0.7
0.8

July
August
September

pl38.48

p70,455

75,119

5.0

P3.5

2.7

0.9

0 5

0.5
0.5
0.5

0 4
0.4

1969

0.5
0.5

1970
January
February
March

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Current high values are
indicated by [H); for series that move counter to movements in general business activity (series 3,5,14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
"
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated;
and "NA", not available.
•'•Data exclude Puerto Rico which is included in figures published by source agency.

70



AUGUST 1970

ItCII

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

|3 PRODUCTION, INCOME, CONSUMPTION, AND TRADE

TIMING CLASS ....

ROUGHLY COINCIDENT INDICATORS

Minor Economic
Process

Comprehensive Production

Comprehensive Income

*200. Gross na- *205. Gross na- *47. Index of
:ional product
industrial protional product
n current dolduction
in 1958 dollars
lars

Year

and

*52. Personal
income

month
(Ann. rate,

bil. dol.)

(Ann. rate,
bil. dol.)

(1957-59-100)

(Ann. rate,
bil. dol.)

Comprehensive Consumption and Trade

53. Wages and *56. Manufacsalaries in min- turing and trade
ing, manufactur- sales
ing, and construction
(Ann. rate,
bil. dol.)
(Mil. dol.)

57. Final sales *54. Sales of
(series 200
retail stores
minus series
245)
(Ann. rate,
bil. dol.)

(Mil. dol.)

1968
834.9

693.5

161.5
162.5
163.3

656.0
664.0
671.8

169.9
173.0
173.8

93,155
93,729
94,431

832.3

27,014
27,420
27,964

858.1

705.4

163.0
164.9
166.0

674.5
681.0
687.2

173.9
177.3
178.4

94,521
96,036
97,390

847.8

27,760
28,125
28,287

875.8

712.6

166.5
165.1
165.9

692.4
697.6
702.9

179.2
179.8
182.0

98,335
97,048
98,519

867.6

28,641
28,725
28,286

891.4

717.5

166.3
167.8
168.7

707.8
712.8
716.9

183.6
185.0
186.9

99,643
100,107
98,787

882.1
...

907.6

722.1

169.1
170.1
171.4

720.2
725.2
732.0

187.2
187.6
190.9

100,103
101,358
101,475

900.2

28,955
29,257
28,881

923.7

726.1

171.7
172.5
173.7

736.3
740.9
746.2

191.6
192.6
194.7

102,319
103,232
104,127

915.9

29,409
29,386
29,371

July
August
September

942.6

B> 730.9

H>174.6
174.3
173.9

752.7
758.5
763.1

195.7
197.1
198.0

104,201
104,644
105,903

931.2
...

29,090
29,346
29,259

October
November
December

951.7

729.2

173.1
171.4
171.1

766.7
770.6
774.3

198.8
198.8
200.6

106,907
105,666
104,758

944.5

29,620
29,471
29,419

959.5

723.8

170.4
170.5
171.1

777.8
781.5
787.6

199.1
198.9
E>200.7

104,961
106,139
105,218

957.9

29,570
29,980
29,801

170.2
169.1

199.2
197.7
r 198.0

104,779
r!06,731
[H)pl07,46l

p!98.1

January
February
March
April

May
June
July
August
September

...

October
November
December

28,665
28,771
28,463

1969
January
February
March
April

May
June

1970
January
February
March

June

rl68.8

H> 806.0
799.7
r798.2

July
August
September

pl69.2

p801.8

April

May

[H) i97 1. 1

r724.9

(NA)

H> 30,536
fi> r 968.1

r30,502
P30,432

(NA)

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Current high values are
indicated by (H); for series that move counter to movements in general business activity (series 3,5,14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
0).
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The "r" indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.

BCII

AUGUST 1970



71

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS
TIMING CLASS

0

FIXED CAPITAL INVESTMENT

....

Minor Economic
Process

LEADING INDICATORS
Formation of Business
Enterprises

New Investment Commitments

*12. Index of net
business formation

13. Number of new
business incorporations

(1957-59-100)

(Number)

Year

and
month

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

8. Index of
construction
contracts, total
value1

(1957-59=100)

*10. Contracts
and orders for
plant and equipment

(Bil. dol.)

11. Newly approved capital
appropriations,
1,000 manufacturing corporations1

(Bil. dol.)

24. Value of
manufacturers'
new orders, machinery and
equipment industries

(Bil. dol.)

Revised8

1968
January
February
March

113.5
114.7

26.84
26.81
28.00

166
152
169

6.50
6.51
6.67

5.87

113.8

17,223
18,014
17,974

5.47
5.38
5.38

April

18,659
18,796
19,197

27.37
27.17
26.70

164
172
160

6.20
6.62
7.20

5.71

June

112.8
112.7
114.5

5.49
5.45
5.97

July
August
September

119.0
119.1
121.2

19,530
20,011
20,986

26.92
27.33
28.38

187
192
183

6.96
7.85
7.20

6.43

5.71
6.03
5.92

October
November
December

123.9
123.4
125.3

21,394
21,155
20,292

30.28
29.32
29.38

200
183
179

8.18
7.29
7.79

6.61
...

6.55
6.09
6.24

125.2

29.68
30.48
29.70

204
205
182

7.98
7.84
7.50

6.74

123.2

20,578
22,199
21,353

6.20
6.51
6.41

23,220
23,185
23,528

30.94
30.00
29.17

183

June

123.8
123.1
123.6

210
186

8.26
8.01
7.85

July
August
September

124.6
124.2
123.1

23,554
22,967
23,138

31.07
30.48
E>32.14

180
216
173

May

1969
January
February
March

0)125.8

April

May ..

123.2
121.7

H> 24,046

H>7.76

7.10
6.43
6.53

7.76
7.60
8.65

...
7.75

6.35
6.24

8.00
7.95
8.34

...
7.59

122.3

23,308
22,137

31.80
31.19
30.30

195
178
1)218

January
February
March

121.9
121.7
117.1

22,072
23,249
21,091

28.91
29.66
28.63

205
215
205

D 3.73
8.55
7.60

April
May
June

116.0

21,876
r22,401
p22,276

28.61
29.48
r29.74

203
170
186

8.23
7.48
7.72

P31.56

180

p8.05

October
November
December

H>7.35

6.45
6.70
6.49

1970

July
August
September

113.9
pl!2.8
(NA)

(NA)

6.58

6.41
6.60
5.98

...

6.04
6.21

p6.53

/

0 £•

r6.35
P6.60

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Current high values are
indicated by 0);
for series that move counter to movements in general business activity (series 3, 5,14, 39, 40, 43, 44, 45, and 93)f current low values are indicated by
[H>.
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from the source agency:
McGraw-Hill Information Systems Company, F. W. Dodge Division (series 8), or National Industrial Conference Board (series 11).
2
See "New Features and Changes for This Issue," page iii.

72




AUGUST 1970

KCII

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS
TIMING CLASS

HFIX ED CAPITAL

....

Minor Economic
Process

Year
and
month

INVESTMENT--Con.

LEADING INDICATORS-Con.

ROUGHLY COINCIDENT INDICATORS

LAGGING INDICATORS

New Investment Commitments-Con.

Backlog of Investment Commitments

Investment Expenditures

9. Construction
contracts, commercial and industrial
buildings1
(Mil. sq.ft. floor
space)

28. New private
housing units
started, total a

(Ann. rate, thous.)

*29. Index of new
private housing
units authorized by
local building
permits

96. Manufacturers'
unfilled orders,
durable goods
industries

(1957-59=100)

(Bil. dol.)

97. Backlog of
capital appropriations, manufacturing 1
(Bil. dol.)

*61. Business
expenditures on
new plant and
equipment, total

69. Machinery and
equipment sales
and business construction expenditures

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

Revised3

1968
January . . .
February
March

64.51
61.39
66.61

1,344
1,398
1,472

120.0
121.4

80.49
80.59
81.75

April
May
June

47.09
66.96
66.35

1 532
1 384
1 393

113.7
106.9
107.0

82.24
81.90
80.97

July
August
September

71.65
66.15
61.59

1,561
1 501
1,527

107.7
107.8
116.4

79.68
80.18
80.57

October
November
December

79.63
69.70
71.47

1,579
1,690
1,618

115.2
119.1
122.3

81.89
82.43
84.07

E>94.43
69. 98
63.50

1,705
1,639
1,588

117.2
123.4
118.7

84.43
84.99
85.16

April
May
June

65.82
85.60
80.37

1,505
1,533
1,507

E>125.5
110.6
112.0

86.46
(H)86.88
85.91

July
August
September

73.70
71.96
68.90

1,429
1,376
1,481

102.6
104.0
100.4

86.37
85.98
86.38

October
November
December

79.96
64.31
86.89

1,390
1,280
1,402

98.9
99.5

103.5

86.29
86.53
86.67

88.86
80.95
67.11

1,059
1,306
1,392

84.6
95.0
91.8

85.54
84 .80
83.72

97.2

68.09

80.77
80.79
80.59

66.29

81.59
80.32
80.86

67.77

80.09
82.40
85.08

69,05

86.15
88.21
85.46

72.52

90.00
91.42
90.31

73.94

88.84
89.84
91.86

77.84

91.20
94.24
E>99.50

77.84

94.99
93.92
90.90

...

(H) 78 .22

23.53

...

94.02
96.97
94-39

20.17

20.04

20.46

21.02

1969

January
February
March

21.54

22.83

23.48

2

H>- 3.35

1970

January
February
March
April
May
June

64.00
58.19
54.47

1,224
rl,2/£
rl,375

105.5
110.4
r 109.1

82.84
81.94
r8l.ll

July
August
September

70.45

pi, 585

p!05.7

p81.26

October
November
December

a80.66
p22.92

...

91.48
r96.25
P94.76
(NA)

a83.28
...

a83.12

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Current high values are
indicated by 0); for series that move counter to movements in general business activity (series 3, 5,14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
IH>. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; "e", estimated; "a", anticipated;
and "NA", not available.
•'•This is a copyrighted series used by permission; it may not be reproduced without written permission from the source agency:
McGraw-Hill Information Systems Company, F. W, Dodge Division (series 9), or National Industrial Conference Board (series 97).
3
The high value (1,876) was reached in October 1963.
3
See "New Features and Changes for This Issue," page iii.

KCII

AUGUST 1970



73

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

U INVENTORIES AND INVENTORY INVESTMENT

TIMING CLASS ....
Minor Economic
Process

Year
and
month

1968
January
February
March

1-10.4

July
August
September

+8.2

April
May
June

+7.9

. .

October
November
December
1970
January . . . .
February
March
April
May
June
July
August
September

1-11.3

+7.2

26. Production
materials, companies reporting
commitments601
days or longer®
(Percent
reporting)

32. Vendor
performance,
companies reporting slower1
deliveries®
(Percent
reporting)

25. Change in
unfilled orders,
durable goods
industries1
(Bil. dol.)

*71. Manufac- 65. Manufacturers' inventuring and
trade invento- tories of
ries, book
finished goods,
value
book value
(Bil.dol.)

(Bil.dol.)

-0.09
+0.10
+1.16

1AA.03
144.74
145.08

26.97
27.09

+15 9
+15.9
-1-8.5

51
55
59

+4.0
+1.7

68
64
67

52
52
52

+0.48
-0.34
-0.93

146.40
14-7.73
148.44

27.35
27.59
27.64

+6.4

59
55
40

+3.5
+2.0
-0.9

68
66
60

56
46
46

-1.29
+0.49
1-O.40

148.97
149.82
150.65

27.79
28.15
28.44

42
44
43

+1.9
-2.2
+0.6

62
60
60

52
60
56

+1.32
+0.54
+1.64

152.02
152.83
153.76

28.64
28.92
29.13

43
47
49

-0.4
-0.4
+4.0

57
58
63

62
61
61

+0.36
+0.56
+0.16

154.09
155.34
156.40

29.08
29.41
29.61

+7.9

49
51
49

+1.3
+2.8
-1.1

65
64
66

68
69
70

+1.30
+0.42
-0.97

157.48
158.60
159.26

29.98
30.41
30.45

+16.4
+12.3
+12.9

50
51
50

+1.1
-0.5
+0.7

59
63
65

66
68
66

+0.46
-0.38
+0.39

160.63
161.66
162.73

30.66
30.96
31.10

+18.2

54
57
48

+3.5
+0.1

t-2.5

63
65
65

65
62
64

-0.09
+0.24
+0.14

164.25
164.97
166.11

31.21
31.54
31.64

50
50
51

-1.6
+2.2
+2.0

61
62
56

56
58
50

-1.13
-0.74
-1.08

165.82
166.79
167 .28

31.74
32.16
32.25

r-Q.l
p+4.2

45
40
46

-1.2
-0.7

P-0.3

60
57
55

52
72
69

-0.88
-0.90
r-0.84

168.21
rl68.20
E)pl68.55

32.95
33,06
H>33.10

(NA)

46

(NA)

52

50

p+0.15

+10.2

+9.8

-til. 2

+15.0
+12.7
+12.9
+13.5

+8.7

-3.5

+11.7
+5.9
+11. 1

r+3.1

20. Change in
book value of
mfrs.' inventories of mtls.
and supplies
(Ann. rate,
bil.dol.)

50
55
54

+13.6

+1.6

37. Purchased
materials, companies reporting higher
inventories
(Percent
reporting)

64
61
64

+3.9
+7.4

Inventories

-0.5
+1.2
+0.9

+16.4
1-9-3

Inventory Investment and Purchasing

55
53
52

+9.9

October
November
December
1969
January
February
March

LAGGING INDICATORS

-1-8.5
+4 1

+4.0

4-2.6

April
May
June

July
August
September

245. Change in *31. Change in
business
book value of
inventories1 mfg. and trade
inventories,
total 1
(Ann. rate,
(Ann. rate,
bil. dol.)
bil.dol.)

LEADING INDICATORS

-1-4.7

27.21

(HA)

(NA)

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @ . Current high values are
indicated by [fi>; for series that move counter to movements in general business activity (series 3, 5, 14, 39f 40, 43, 44, 45, and 93), current low values are indicated by
E>. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.
1
Series that reached their high values prior to 1968 are as follows: Series 245, high value (+19.9) reached in 4th quarter
1966; Series 31, high value (+20.0), in June 1966; Series 37, high value (63), in Nov. 1964; Series 20, high value (+5.7), in
Aug. 1966; Series 26, high value (75), in Oct. 1966; Series 32, high value (86), in Mar. 1966; Series 25, high value (+1.82),
in Sept. 1966,

74




AUGUST 1970

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

Q[ PRICES, COSTS, AND PROFITS

TIMING CLASS ....
Minor Economic
Process

Sty^rices

*23. Index of
industrial
materials
prices® 1

Year
and
month

ROUGHLY COINCIDENT
INDICATORS

LEADING INDICATORS

Stock Prices

Profits and Prof

*19. Index of *16. Corpostock prices, ate profits
500 common after taxes
stocks©

22. Ratio of
)rofits to
ncome originating, corwrate, all
ndus. x
(Percent)

(1957-59=100) (1941-43=10)

(Ann. rate,
bil. dol.)

Comprehensive Wholesale
Prices

't Margins

Unit Labor Costs

68. Labor
cost (cur.
dol.) per unit
of gross prod.
1958 dol.),
nonfin. corp.
(Dollars)
(1957-59-100) 1957-59-100) 1957-59-100)

*17. Ratio,
55. Index of
15. Profits
(after taxes) )rice to unit wholesale
prices, indus.
3er dollar of abor cost
sales all mfg. ndex, mfg.1 commod.®
1
corp.
(Cents)

LAGGING INDICATORS

58. Index of
wholesale
prices, mfd.
^oods®

*62. Index of
abor cost
per unit of
output, mfg.

1957-59=100)

1968
99.8

January
February
March

July
August
September .
October
November
December

0.720

108 4
109.3
109.2

108 8
108 9
109 2

H09 7
109 5
109 9

0.726

109.5
111.3
111.9

98 2
98.4
98.3

109 7
109 9
110.2

110 3

0.737

112,0
112.1
112.4

98.8
99.9
99.6

110.9
111.4
112.0

111.3
111.7

0.745

112.6
111.8
112.7

4.9

99.4
99.7
99.8

112.1
112.2
112.2

112.4
112.8
113.2

0.755

113.1
113.1
113.4

4.8

99.8
99.0
98.9

112.4
112.8

0.767

113 2

113.5
113.6
113 9

113.7
114.7
115.2

9ft *>

113 8

114 6

98 0
97 1

114 2
114 6

~\~\L 9

97 6
98.2
98.0

115.1

1OA 7

108 9

5.0

100 6
99.8
100 2

108 8
108.6
108 8

10.8

5 1

100.2
98.4
98.2

10.9

5 1

95.67
97.87
100.53

48 3

ll.l

94.4
94.8
96.1

100.30
98.11
101 34

48.0

97.5
100.3
100.7

103 . 76
105.40
H) 106. 48

49 6

. .

109 1
109.1
109 4

108.1

98.3
96.1
95.6
. .

107.4
108 2
108 4

107.8

108 3
108 6

46 9

April
May
June

0 720

100.7
100 5
100 5

95.04
90 75
89 09

99 *>
100 1

nQ

c -|

110 0
110.5

1969

103.4
106.3
106.9

102.04
101.46
99.30

49.5

109.3
110.4
111.6

101.26
104.62
99.14

H)49.7

July
August
September

112.4
115.0
117.4

94.71
94.18
94.51

47.9

October
November
December

115 6
115 6

A7 1

117 2

95 52
96 21
91 11

January
February
March

119.4
120.0
119.2

90.31
87.16
88.65

44 6

9 0

April
May
June

118.7
118.0
115.3

85.95
76.0.6
75.59

F44.3

P9.0

January
February
March

. .

April
May
June

. .

10.7

10.5

9.9

9 7

5.0

L 5

112.2

116 4
0.783

117 ?

118 7

115 ^

1970

July
August
September

2

112 8
111 9

3

76 72

79 29

4.1

(NA)

198.5
98.1
r97.9

p98 7

119 o

115.5
115.8

116.1
116,4
116.6

0.799

116.2
116.6
116.7

116.9
117.1
117.4

0)po.ao2

116 9
Ifl^pll7 1

118 0
[£f>pll8 • 0

118.5
119.0

r!18.7
119.4
[fi)rll9.9

pl!9 6

October
November
December
NOTE' Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @ . Current high values are
indicated'by [fi>; for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
[R>.
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; V, preliminary; V, estimated; "a", anticipated;
and "NA", not available.
Series that reached their high values prior to 1968 are as follows: Series 23, high value (123.5) reached in Mar. 1966;
Series 22, high value (13.'9), in 1st quarter 1966; Series 15, high value (5.8), in 1st quarter 1966; Series 17, high value
(105 2) in July 1966. 2 Average for "August 4, 11, and 18. &Average for August 20, 21, and 24.

BCIt


AUGUST 1970


75

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS
TIMING CLASS

0

MONEY AND CREDIT
LEADING INDICATORS

....

Minor Economic
Process

Flows of Money and Credit

Year
and
month

98. Change in
money supply
and time
deposits l

85. Change in
U.S. money
supply

(Ann. rate,
percent)

(Ann. rate,
percent)

33. Net change in
mortgage debt,
held by fin. inst.
and life insurance companies
(Ann. rate,
bil. dol.)

Credit Difficulties

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

(Ann. rate,
bil. dol.)

110. Total private borrowing

(Ann. rate,
mil. dol.)

14. Current liabilities of busness failures®

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

(Mil. dol.)

(Percent)

1968
January
February
March.

+4.32
+7. SO
+7.44

+6.00
+4.56
+5.88

+20.32
+19.27
+19.72

+4.79
+8.83
+7.46

+6.04
+3.14
+2.98

74,232

April
May
June

+4.56
+7.08
+5.76

+5.88
+11.04
+9.00

+19.08
+21.64
+18.18

+7.69
+8.78
+8.59

+34.00
+2.09
+5.76

72,528

July
August
September .... .

+12.48
+12.96
+9.36

+8.88
+8.88
+2.52

+17.77
+18.28
+18.86

+10.28
+11.21
+8.58

+4.21
+7.99
+7.90

88,656

90.27
65.77
58.65

October
November
December

+10.56
+13.80
+12.12

+2.52
+11.28
+7.44

+20.39
+21.67

i> +25.51

[H> +11.36
+10.01
+9.30

+9.89
+11.30
+13.26

100,884

65.38
|H>58.65
83.41

January
February
March

-2.16
-0.96
+1.20

+6.12
+3.12
+3.00

+23.66
-KL9-61

+7.69
+9.58
+7.75

H> +14.88
+8.88
+7.15

94,192

April .
May
June

+3.96
-1.20
-0.60

+7.92
+1.20
+4.20

+21.90
+19.38
r+22 . 08

+9.12
+10.15
+9.54

+11.64
+8.14
+10.30

(H) 102,032

July
August
September

-8.40
-10.56
-1.20

+1.80
-1.80
0.00

+16.56
+21.02
+20.92

+7.46
+7.20
+8.38

-2,86
t-4.13
+8.76

89,716

October
November
December

-1.56
+0.36
+3.00

+0.60
+1.20
+1.80

+18.66
+19.61
+14.41

+8.03
+7.44
+4.98

+7.69
-1.30

81,772

fii.94

January
February
March

-1.56
-5.76
+13.80

+9.00
-10.80
H> +13.20

+16.63
+14.53
+12.23

+4.56
+5.02
+2.38

-12.74
+3.49
-3.74

r76,2l6

137.28
139.39
120.02

April
May
June

+16.32

+13.93
r-rIB 06

+3.55
+4.98

p88, 536

rH-90 Q/i

-t-^ ?Q

+1.08
-5.87
-i-l 19

131.90
147.89
170.50

(NA)

p+5.23

...

104.49
79.60
88.59
80.11
91.41
74.66

1.54
1.56
1.57
1.56

E)1.50
1.67

1969

+20.56

...

...

...

75.03
89.99
84.12

1.55
...

118.76
92.60
91.92

1.59
...
1.65

112.73
62.83
73.70

1.70
...

116.44
127.1496.85

1.71
1.81

1970

July
August
September

-r6 84
Y. , q o ;

. .

e P^IV . V2
—

"1 Q

QO

+10.68
+3 60
r-1 80
p+4 08

(NA)

1.79
1.73
1.81

296.92

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @ . Current high values are
indicated by [0); for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
E>. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.

76




AUGUST 1970

KCII

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

U| MONEY AND CREDIT-Con.

TIMING CLASS ....

Minor Economic
Process

LAGGING INDICATORS

ROUGHLY COINCIDENT INDICATORS

an k
RJe r v es

93. Free
reserves©
Year
and
month

(Mil. dol.)

niitcfanrtinn Hoht
Outstanding Debt

Money Market Interest Rates

114. Treasury 116. Corporate 115. Treasury 117. Municipal 66. Consumer *72. Commercial
and industrial
bill rate®
bond yields® bond yields® bond yields® installment
loans outstanddebt
ing, weekly reporting large commercial banks
(Percent)

(Percent)

(Percent)

(Percent)

(Mil. dol.)

(Mil. dol.)

Interest Rates on Business
Loans and Mortgages

*67. Bank
rates on shortterm business
loans, 35
cities®

118. Mortgage
yields, residential®

(Percent)

(Percent)

1968

6.81
6.78
6.83

6.57
6.57
6.80

5.18
5.16
5.39

4.29
4.31
4.54

79,579
80,315
80,937

65,363
65,601
66,063

6.36

-315

5.08
4.97
5.14

April
May
June

-413
-326
-341

5.36
5.62
5.54

6.79
7.00
7.02

5.28
5.40
5.23

4.34
4.54
4.50

81,578
82,310
83,026

66,844
67,171
67,635

6.84
.. .

July
August
September . . . . .

-226
-190
-132

5.38
5.10
5.20

6.91
6.54
6.69

5.09
5.04
5.09

4.33
4.21
4.38

83,883
84,817
85,532

68,313
68,904
69,433

6.89

October
November
December

-16?
-245
-310

5.33
5.49
5.92

6.88
7.00
7.28

5.24
5.36
5.66

4.49
4.60
4.82

86,479
87,313
88,088

70,406
71,680
72,490

-480
-596

6.18
6 16
6 08

7.29
7.33
7 76

5.74
5.86
6 05

4.85
4.98
5.26

88,729
89,527
90,173

73,410
74,472
74,748

7.32

(NA)
7.99
8.05

January
February
March

+W\
+38

6.94

6.61
...

(NA)

7.52
7.42
7.35
7.28
7.29
7.36
7.50

1969
January
February
March

. .

701

April
May
June

-844
-1 102
-1 064

6 15
6 08
6.49

7 54
7 62
8.04

5 84
5.85
6.05

5.19
5-33
5.76

90, 933
91,779
92 , 574

75,900
76,867
76,909

7.86

8.06
8.06
8.35

July
August
September

-1, 074

7.00
7 01
7 13

8.06

8 05
8 36

6.07
6 02
6.32

5.75
6 00
6.26

93,196
93 , 796
94,494

76,860
77,746
•78,254

8.82

8.36
8.36
8.40

7 04
7.19
7.72

8 46
8.94
9.22

6.27
6.52
6.81

6 09
6.30
6.82

95 163
95,783
96,198

78,513
78,537
0) 80,764

8.83

8.48
8.48
8.62

-819
-781

lift 7 91
7 16
6.71

9.00
8.84
9.00

6.86
6.44
6.39

6.65
6.36
6.03

96,578
96,996
97,194

78,506
78,811
78,150

-704
-795
r-701

6.48
7.04
6.74

9.09
9.53
0)9.70

6.53
6.94
0)6.99

6.49
1H>7.00
6.96

97,490
97,905
H> 98, 346

78,226
78,069
78,068

[RSn-l 252

6.50

9.09

6.57

6.53

October
November
December

-9/1.6

-A?l
-992

-988
-829

....

1970
January
February
March

-79 Q

April
May
June
July
August
September

(NA)

P78,556

0)8.86
...

8.49

(NA)
|H>9.29
^9.20
9.10
9.11
9.16
9.11

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Current high values are
indicated by 0);
for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
0).
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.

BCII

AUGUST 1970



77

CYCLICAL INDICATORS-Selected Indicators by Timing

Q| COMPOSITE INDEXES
810. Twelve
leaders, reverse trend
adjusted 1 (series
1, 5, 6, 10, 12,
16, 17, 19, 23,
29, 31, 113)

Year
and
month

811. Twelve
leaders, prior
to trend adjustment (same
components.as
in series 810)

820. Five
coinciders, estimated aggregate economic
activity (series
41, 43, 47, 52,
56)

830. Six
laggers (series
44,61,62,67,
813. Marginal
71, 72)
employment adjustments
series 1, 2, 3,
5) 2

Leading Indicator Subgroups
814. Capital
investment
commitments
(series 6, 10,
12, 29)

817. Sensitive
815. Inventory 816. Profitinvestment and ability (series
financial flows
2
purchasing
16, 17, 19)
(series 33, 85,
(series 223, 25,
112, 113)
31, 37)

(1967-100)
Revised3

(1967-100)
Revised3

(1967-100)
Revised3

(1967-100)
Revised3

(1967-100)
Revised3

(1967-100)
Revised3

(1967=100)
Revised3

101.7
103.4
103.3

104.8
105.8
106.9

103.8
105.1
105.7

100.3
101.6
101.5

103.0
105.1
105.5

100.6
100.9
101.3

100.8
99.5
99.3

101.9
103.0
102.6

106.7
107.5
108.3

103.0
103.4
103.9

107.7
108.6
109.6

107.2
108.2
108.8

101.2
102.5
102.4

103.9
103.7
104.7

101.2
100.5
99.5

101.0
101.1
101.9

104.2
104.6
103.7

July
August
... .
September

109.5
109.7
110.9

104.5
104.3
105.2

110.5
110.9
111.9

108.8
110.8
111.3

102.4
101.4
102.4

106.1
107.2
108.4

98.7
100.1
98.6

101.8
100.1
100.8

104.2
105.4
103.1

October
November
December
1969
January
February
March

113.7
113.7
114.8

107.4
107.0
107.6

112.9
114.1
114.7

111.9
113.2
115.1

102.9
103.0
103.2

110.8
109.7
111.0

100.7
100.5
101.4

101.6
102.3
102.4

105.2
106.6
D 106.9

114.8
116.4
116.1

107.2
108.3
107.6

115.5
116.8
117.6

116.9
118.5
120.0

103.3
101.8
103.4

110.9
111.7
110.0

100.6
103.1
103.0

101.9
102.5
101.9

104.8
105.2
102.8

April
May
June

118.0
118.2
117.5

D 109.0
108.7
107.7

118.1
119.0
120.2

120.7
122.1
123.9

103.5
103.2
102.4

0)111.7
110.0
109.8

104.6
104.5
103.0.

102.2
103.1
101.8

105.6
103.8
105.1

117.6
117.5
|H)118.8

107.4
106.9
107.7

120.6
121.2
121.2

125.9
128.4
129.1

102.4
101.7
102.1

110.1
109.7
110.5

105.3
105.0
106.2

100.6
99.6
99.5

100.3
101.7
103.2

118.6
117.8
117.8

107.1
106.0
105.6

121.9
122.2
E>122.2

131.1
130.7
[H)132.3

101.3
100.5
100.9

109.8
109.1
109.6

106.3
106.0
105.8

99.3
98.9
96.8

102.4
101.2
100.5

115.9
116.7
115.0

103.5
103.8
102.0

121.7
121.9
122.0

131.8
131.2
130.7

98.6
97.2
96.4

107.6
108.6
105.6

103.9
105.9
104.9

96.5
95.8
96.0

98.7
97.3
98.5

115.3
114.0
114.3

101.8
100.3
100.2

122.0
121.2
121.4

130.8
131.0
131.1

94.4
94.9
94.8

106.9
106.2
106.0

104.7
102.8
103.4

95.7
93.1
92.7

99.7
99.3
plOO.3

pl01.4

p!21.4

P130.9

P96.6

p!06.9

P103.5

P93.6

(NA)

(1967-100)
Revised3

^1967-100)

104.2
106.3
106.5

April
May
June

1968
January
February
March

July
August
September
October . .. .
November
December
1970
January
February
March
April
May
June

.

juiv
August
September

4

pll6.1

(3)

4

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Current high values are
indicated by |H); for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
|H>. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; V, preliminary; V estimated' "a" anticipated'
and "NA". not available.
'
1
Reverse trend adjusted index of 12 leaders contains the same trend as the index of 5 coincident indicators.
3
Series that reached their high values prior to 1968 are as follows: Series 813, high value (105.4) reached in March 1966;
Series
815, high value (109.3) reached in March 1966; Series 816, high value (104.6) reached in February 1966.
3
See "New Features and Changes for This Issue," page iii.
4
Excludes series 12, 16, 31, and 113, for which data are not yet available.

78




AUGUST 1970

ANTICIPATIONS AND INTENTIONS

AGGREGATE SERIES
Year
and
quarter

61. Business expenditures for new plant
and equipment
a. Actual
expenditures
(Ann. rate,
bil.dol.)

410. Manufacturers' sales,
total value

b. Second
c. First
anticipations as anticipations as
percent of actual percent of actual

(Percent)

(Percent)

(Bil. dol.)

412. Manufactur- 414. Condition
ers' inventories, of manufacturers'
total book value inventories: percent considered
high less percent
considered low
(Bil.dol.)

(Percent)

416. Adequacy 435. Index of
of mfrs.' capac- consumer
sentiment
ity: percent
considered inadequate less percent considered
(First quarter
excessive
(Percent)
1966-100)

1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

65.23
65.60
65.48
65.66

100.7
100.3
102.2
102.7

100.9
100.9
103.0
103.0

135.0
135.6
137.4
140.7

80.1
81.1
81.7
82.8

30
29
23
22

40
40
41
38

92.2
94.9
96.5
92.9

68.09
66.29
67.77
69.05

100.0
104.0
102.7
103.9

101.2
102.1
105.1
103.1

145.2
149.5
152.7
156.6

83.8
85.6
87.1
88.6

22
22
21
16

35
35
40
42

95.0
92.4
92.9
92.1

72.52
73.94
77.84
77.84

102.7
104.4
99.5
101,5

102.8
100.0
101.5
100.3

159.2
161.8
167.1
168.3

90.3
92.2
94.2
95.9

18
19
22
22

43
38
39
41

95.1
91.6
86.4
79.7

102.3
(NA)

103.6
(NA)

165.6
al68.5
a!72.4

96.9
a98.3
a99.2

23
(NA)

38
(NA)

78.1
75.4

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1969
First quarter...
Second quarter-.
Third quarter...
Fourth quarter..

1970
78.22
a80.66
a83.28
a83.12

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

AGGREGATE SERIES-Con.
Year
and
quarter

420. Family income of households compared to a year ago, households reportinga. No change b. Higher
in income
income

c. Lower
income

425. Mean probability of substantial
changes in family income of households
a. Increase
in income

430. Household purchases of new cars

a. Actual
b. Increase c. Decrease (quarterly)
less decrease in income

2-quarter moving average
b. Actual

(Ann. rate,
mil, cars)

(Ann. rate,
mil, cars)

c. Anticipated
(Ann. rate,
mil, cars)

d. Anticipated
as percent of
actual
(Percent)

(Percent)

(Percent)

(Percent)

(Percent)

52.3
47.5
48.1
51.2

36.0
40.9
40.3
38.0

11.1
10.9
11.0
10.1

16.0
15.8
17.4
16.2

10.1
9.9
11.2
10.2

5.9
5.9
6.2
6.0

7.4
7.9
8.7
7.8

7.1
7.7
8.3
8.3

7.4
7.6
7.6

96
92
92

52.9
53.0
50.8
50.7

36.4
35.9
37.3
37.4

10.0
10.5
10.8
11.1

19.3
18.3
18.4
16.7

13.8
12.5
11.9
11.2

5.5
5.8
6.5
5.5

8.1
8.4
8.1
7.7

7.9
8.3
8.2
7.9

7.8
7.6
7.9
8.3

99
92
96
105

52.7
45.6
46.2

35.4
41.3
39.9

11.3
12.4
13.0

16.5
18.1
18.6
17.6

H.3
12.0
13.0
11.6

5.2
6.1
5.6
6.0

7.1
7.1

7.4
7.1
(NA)

8.0
7.9
7.5
7.8

108
111
(NA)

20.1
19.9
18.2

13.8
12.9
10.9

6.3
7.0
7.3

(Percent)

(Percent)

1968
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

1969
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

1970
First quarter...
Second quarter.
Third quarter ..
Fourth quarter .

(NA)

1971
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The * r" indicates revised; "p", preliminary;
V, estimated; "a", anticipated; and "NA", not available.

AUGUST 1970



79

ANTICIPATIONS AND INTENTIONS

DIFFUSION INDEXES
Year
and
quarter

D440. New orders, manufacturing1

(4-Q span)

(4-Q span)

(4-Q span)

D446. Number of employees,
manufacturing and trade1

D444. Net sales, manufacturing
and trade1
Actual

Anticipated

Actual

Anticipated

Actual

D442. Net profits, manufacturing
and trade1

Actual

Anticipated

(4-Q span)

(4-Q span)

(4-Q span)

Anticipated
(4-Q span)

(4-Q span)

1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

71
72
69
72

82
82
80
81

65
65
64
69

75
74
76
76

71
70
72
74

82
82
82

58
58
58
58

60
60
60
60

78
78
79
80

80
83
82
81

70
73
72
74

74
80
78
73

79
82
82
84

82
86
86
84

57
60
58
60

60
60
58
60

81
80
76
72

82
85
83

70
74
68
66

78
79
77
76

80
84
78
76

86
88
86
83

59
60
58
58

60
60
60
59

66
(NA)

76
71
74

61
(NA)

70
66
70

70
(NA)

74
73
78

54
(NA)

58
56
56

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1969
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1970
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

DIFFUSION INDEXES--Con.

Year
and
quarter

D450. Level of inventories, manufacturing
and trade1
Actual

Anticipated

Selling prices
D460. Manufacturing
and trade1
Actual

Anticipated

D462. Manufacturing1
Actual

Anticipated

D464. Wholesale trade1
Actual

Anticipated

D466. Retail trade1
Actual

Anticipated

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

68
66
65
64

65
66
63
62

72
72
76
78

75
72
70
72

70
70
72
73

74
72
68
70

74
74
80
82

76
73
69
74

74
80
84
87

76
76
72
78

68
68
70
70

63
66
67
66

78
80
81
84

76
79
78
78

74
76
78
80

74
76
75
76

81
82
82
85

78
82
78
78

88
88
88
92

81
84
86
87

71
70
70
68

66
68
66
66

84
84
85
85

78
80
80
81

82
80
82
82

75
79
78

85
85
86
85

79
80
80
80

91
90
90
89

84
84
84
86

66
(NA)

62
61
64

84
(NA)

78
78
80

80
(NA)

79
76
78

87
(NA)

77

(NA)

80
80
81

1967
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

1968
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

1969
First quarter...
Second quarter.
Third quarter ..
Fourth quarter .

1970
First quarter...
Second quarter,
Third quarter ..
Fourth quarter..

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The " r" indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.
•'•This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.

80




AUGUST 1970

BUI

ANTICIPATIONS AND INTENTIONS

BH DIFFUSION INDEXES-Con.
Year
and
quarter

D61. Business expenditures for new plant and equipment,
all industries
a. Actual
expenditures
(1-Q span)

(1-Q span)

(1-Q span)

480. Change in
freight carloadings®

b. Anticipations

a. Actual
carloadings

c. First
anticipations

b. Second
anticipations

D480. Freight carloadings ©

(4-Q span)

(4-Q span)

(Thous. of cars4-Q span)

1967
First Quarter
Second quarter. ....
Third quarter
Fourth quarter
1968

50.0
U.7
25.0
58.3

50.0
55.6
41.7
47.2

50.0
50.0
52.8
63.9

42.1
31.6
10.5
42.1

78.9
52.6
78.9
73.7

-51
-88
-130
-88

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

66.7
47.2
66.7
50.0

61.1
83.3
75.0
88.9

55.6
61.1
66.7
55.6

31.6
68.4
68.4
57.9

73.7
63.2
73.7
68.4

-16
+29
+52
-11

83.3
66.7
75.0
41.7

94.4
83.3
61.1
55.6

58.3
63.9
66.7
58.3

52.6
47.4
42.1
(NA)

78.9
89.5
84.2
84.2

-19
-12
-5
+14

77.8
(NA)

69.4
61.1

38.9
55.6
66.7

73.7
47.4
73.7

-6
-29

1969
First quarter
Second quarter.
Third quarter
Fourth quarter
1970
First quarter
Second quarter
Third quarter . . .
Fourth quarter

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for
identification only and dp not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

AUGUST 1970



81

OTHER KEY INDICATORS

Q| FOREIGN TRADE

Year
and
month

500. Merchandise trade
balance (series 502 minus
series 512)

502. Exports, excluding
military aid shipments,
total

(Mil. dol.)

(Mil. dol.)

506. Manufacturers' new
orders for export, durable
goods except motor vehicles and parts

(Mil. dol.)

508. Index of export orders, 512. General imports, total
nonelectrical machinery

(1957-59-100)

(Mil, dol.)

1968
January
February
March .

+128
+184
-150

2,814
2,775
2,439

909
1,007
1,314

215
260
252

2,687
2,592
2,588

April
May
June..

+251
-15
+78

2,855
2,740
2,870

917
1,047
989

244
237
223

2,604
2,755
2,792

July
August
September

+133
+78
+260

2,858
2,950
3,211

914
988
923

246
240
256

2,725
2,872
2,951

October
November
December

-105

2 631

1 268

244

? 7^6

2

y<o
1 082

PQO
-O*;
pqo

rt£Vj
2 ,00?
2 onrt

834

242

9 OIL

1 ^Ql

PAD
ppp

Acq
2 ,0-?^

_i_ C>Q

+70

Q7P
p 077

QOC

1969
January
February
March

+80
-340
+221

2,094

April
May
June

-t-179
+20
+26

3,353
3,296
3,211

1,110
1,222
1,211

248
254
283

3 174
^ 276
3 185

July
August
September

+104
+191
+270

3,168
3,370
3,323

1,215
1,239
1,317

291
248
276

3 064
3,179
3 OS4

October...November
December

+141
+154
+233

3,362
3,365
3,238

1,341
1,312
1,353

265
233
244

3,221
3,212
3,006

1970
January
February
March

+56
+372
+165

3,305
3,628
3,379

1,208
1,561
1,578

232
243
247

3,250
3,256
3,214

April
May
June

+202
+334
+466

3,450
3,695
3,776

1,493
rl,175
pl,336

266
r267
p278

3,248
3,361
3,310

Juiv
August
September

-W, 1, 1

•2 A#q

(NA^

CNA}

3

2,313
q -107

1 118

2 ,Q77(AO

PAP

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by © . Series numbers are for
identification only.and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p" r preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

82




AUGUST 1970

OTHER KEY INDICATORS

BALANCE OF PAYMENTS AND MAJOR COMPONENTS
Year
and
quarter

U.S. balance of payments
522. Official settlements basis

520. Liquidity balance basis
a.Including
allocations of
SDR
(Mil. dol.)

250. Balance on
goods and services, excluding
military grants

b. Excluding
allocations of
SDR
(Mil. dol.)

a. Including
allocations of
SDR

(Mil. dol.)

b. Excluding
allocations of
SDR
(Mil. dol.)

Net capital movements plus
unilateral transfers and errors
and omissions
525. Liquidity 1
balance basis
(Mil. dol.)

(Mil. dol.)

527. Official
settlements
basis2
(Mil. dol.)

530. Liquid
liabilities to all
foreigners 3 ®

(Mil. dol.)

1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

-477
-360
-971

991

-1,840
-1,822
-2,368
-2,727

-3,059
-2,209
-1,396
-1,967

28,990
29,620
31,211
33,119

-61
+1,652
+408
-358

455
853
851
340

-699
-747
-706
-176

-516
+799
-443

32,482
32,514
33,493
33,614

+1,453
+1,315
-582
+522

330
313
656
651

-1,682
-4,114
-2,935
-440

+1,123
+1,002
-1,238
-129

34,930
39,045
A2,703
42,039

r-3,087
P-13978

p885
(NA)

rp-2,435
(NA)

rp-3,755
(NA)

P43,233
(NA)

-1,696

-747
+1

-1,736

1,363
1,462
1,397

-976

-244
+106
t-145
+164
-1,352
-3,801
-2,279

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1969
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

+211

1970
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

r-1,550
P-1,287

r-1,767
P-1,504

r-2,870
p-l,76l

BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.
Year
and
quarter

532. Liquid
and certain
nonliquid liabilities to
foreign official
agencies 3 ®

534. U.S.
official
reserve 4
assets ®

535. Allocations to the
U.S. of
Special
Drawing
Rights

Goods and Services Movements, Excluding Transfers Under Military Grants
Goods and services

Merchandise, adjusted '

Income on investment, military
transactions, other serv., total

252. Exports

253. Imports

536. Exports

537. Imports

540. Exports

541. Imports

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(MiI. dol.)

16,295
17,424
17,819
19,402

13,855
14,274
14,649
14,830

11,456
11,489
11,565
11,694

10,093
10,027
10,168
10,703

7,688
7,723
7,669
7,601

6,660
6,465
6,542
7,154

3,768
3,766
3,896
4,093

3,433
3,562
3,626
3,549

18,407
16,994
17,493
18,574

13,926
14,063
14,634
15,710

11,932
12,685
13,295
12,714

11,477
11,832
12,444
12,374

7,946
8,386
8,878
8,378

7,820
8,132
8,569
8,443

3,986
4,299
4,417
4,336

3,657
3,700
3,875
3,931

16,911
16,006
17,732
17,154

15,758
16,057
16,743
16,964

11,948
14,291
14,565
14,712

11,618
13,978
13,909
14,061

7,472
9,585
9,581
9,835

7,576
9,606
9,263
9,390

4,476
4,706
4,984
4,877

4,042
4,372
4,646
4,671

p!9,481
(NA)

p!7,350
(NA)

p!5,276

p!4,391
(NA)

rlO>241
plO,706

r9,723
P9,858

P5,076
(NA)

P4,706
(NA)

(Mil. dol.)

1967
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

1968
First quarter...
Second quarter.
Third quarter..
Fourth quarter..

1969
First quarter...
Second quarter.
Third quarter ..
Fourth quarter .

1970
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

217
217
217
216

(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available; SDR indicates Special Drawing Rights.
•'•Series 520 (including allocations of SER beginning 1st quarter 1970) minus series 250. 2Series 522 (including allocations
of SDR beginning 1st quarter 1970) minus series 250. 3Amount outstanding at end of quarter. ^Reserve position at end of
quarter. 5Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts
(exports) and Department of Defense purchases (imports).

BCII

AUGUST 1970



83

OTHER KEY INDICATORS

BALANCE OF PAYMENTS AND MAJOR COMPONENTS--Con.
Income on Investment, Military Transactions and Other Services (components of series 540 and 541)

Year

and

quarter

Transportation and other services

Military transactions

Travel

Income on investments
542. U.S. invest- 543. Foreign
investments in
ments abroad
the U.S.
(Mil.dol.)
(Mil.dol.)

546. Sales under 547. Military
545. Payments
544. Receipts
expenditures
from foreign trav- by U.S. travelers military conabroad
tracts
elers in the U.S. abroad
(Mil.dol.)
(Mil.dol.)
(Mil. dol.)
(Mil.dol.)

548. Receipts
from

549. Payments
for

(Mil.dol.)

(Mil. dol.)

1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1,611
1,587
1,786
1,888

584
591
580
607

412
392
414
428

701
841
914
739

329
329
240
341

1,085
1,075
1,106
1,112

1,416
1,458
1,456
1,436

1,063
1,055
1,026
1,091

1,765
1,990
2,000
1,935

677
732
761
762

433
431
451
460

755
737
787
743

302
344
393
357

1,103
1,112
1,147
1,173

1,486
1,534
1,573
1,584

1,112
1,119
1,180
1,253

2,089
2,150
2,286
2,314

r905
1,071
1,240
1,247

501
520
519
518

820
855
875
840

391
313
458
352

1,198
1,187
1,220
1,245

1,495
1,723
1,721
1,693

1,119
1,259
1,311
1,339

p2,489
(NA)

pl,329
(NA)

P559
(NA)

p873
(NA)

p284
(NA)

pl,205
(NA)

pl,744
(NA)

pl,299
(NA)

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1969
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

1970
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

3ALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.
Year
and
quarter

Capital Movements plus Government Nonmilitary Unilateral Transfers

560. Foreign investments in the U.S.
(Mil.dol.)

1967
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

Securities investments

Direct investments
561. U.S. investments
abroad
(Mil. dol.)

564. Foreign purchases 565. U.S. purchases
of U.S. securities
of foreign securities
(Mil.dol.)
(Mil. dol.)

570. Government
grants and capital
transactions, net
(Mil. dol.)

112

707
518
947
964

133
329
520
34

218
273
476
299

-1,115
-950
-948
-1,198

251
5
23
41

451
878
1,048
831

839
1,122
1,115
1,312

304
171
327
453

-355
-762
-391

246
164
152
270

902

1,015
877
276

1,388
365
396
963

319
539
567

-860
-1,327
-1,356

P463
(NA)

pl,304
(NA)

297
P308

159
P-19

64
70
12

575. Banking and
other capital transactions, net
(Mil.dol.)

462
465
-292

-234

1968
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

434
228
156
313

-962

1969
First quarter...
Second quarter.
Third quarter ..
Fourth quarter .

69

132
-647
457
-646

-594

1970
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

P-1,270
(NA)

P-113
(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "an, anticipated; and "NA", not available.

84




AUGUST 1970

IICII

OTHER KEY INDICATORS

Q| FEDERAL GOVERNMENT ACTIVITIES .
Defense Indicators

Receipts and Expenditures
Year
and
month

600. Federal
surplus (+) or
deficit (-), national income
and product
accounts
(Ann. rate,
bil.dol.)

601. Federal
receipts, national income
and product
accounts
(Ann. rate,
bil.dol.)

602. Federal
264. National
expenditures, defense purnational income chases
and product
accounts
(Ann. rate,
bit. dol.)

(Ann. rate,
bil.dol.)

616. Defense
Department
obligations,
total, excluding
military
assistance

(Mil. dol.)

621. Defense
Department
obligations,
procurement

(Mil. dol.)

647. New or648. New orders, defense ders, defense
products indus- products
tries

(Bil.dol.)

(Bil.dol.)

625. Military
prime contract
awards to U.S.
business firms
and institutions

(Mil. dol.)

1968

-9*.2

1653

174^5

76^3

7,033
7,615
6,208

2,360
2,865
1,985

3.51
3.86
5.07

l!6o
1.31

2,887
3,445
3,124

-16 [5

170.0

180 ! 5

77.8

6,765
7,441
6,929

2,161
2,299
2,077

4.43
4.01
2.96

1.47
2.27
2.06

3,488
4,203
3,067

July
August
September . .

-4!!

180.1

184!2

78.' 6

7,544
7,659
7,989

2,323
2,804
3,234

3.67
3.91
3.55

1.91
2.36
1.92

3,937
3,173
3,836

October
November
December

-l.i

186.2

187.2

79^2

7,520
7,286
6,834

2,298
2,520
1,959

4.41
3.89
4.20

2.38
1.95
2.31

3,903
3,378
3,821

+9^5

197 \2

187^7

78! 6

7,578
7,050
6,543

2,307
2,207
1,542

4.02
4.39
3.81

1.84
2.31
2.15

3,468
3,658
2,777

+13^4

202\5

189 '.1

77 \k

6,520
6,319
6,144

1,442
1,304
1,507

4.02
3.81
2.87

2.08
1.79
1.27

2,639
2,673
2,618

July
August . . .
September .

+8*.3

206! 8

192 '.5

79^8

6,906
6,472
6,394

1,462
1,276
1,807

4.05
3.77
3.37

2.38
1.46
1.42

2,962
3,172
2,748

October
November
December .

+6!i

202!6

195! 9

78!8

7,041
7,091
7,088

1,845
1,974
2,224

4.15
4.63
4.40

1.89
2.42
2.11

3,314
2,659
2,826

-i.*7

195^9

197." 7

79^3

7,045
6,516
6,519

1,913
1,543
1,640

3.55
4.28
3.98

1.81
1.87
1.56

2,908
2,617
3,007

p-14.3

pl?6.6

r210.9

r76.8

6,643
r6,l!8
(NA)

1,485
1,328
(NA)

3.57
4.00

r3.32

1.49
1.85
rl.74

2,549
2,190
2,870

P4.76

P3.08

(NA)

January
February
March
April
May
June

1969
January
February
March
April
May
June

1970
January . .
February
March
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Series numbers are for
identification only.and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e" f estimated; "a", anticipated; and "NA", not available.

AUGUST 1970



85

OTHER KEY INDICATORS

Q PRICE MOVEMENTS
Consumer price indexes
Year
and
month

781. All items© 782. Food

(1957-59=100)

(1957-59=100)

Wholesale price indexes

783. Commodities less foods

784. Services© 750. All commod- 58. Manufacities®
tured goods ©

751. Processed
foods and
feeds

752. Farm products

(1957-59=100)

(1957-59-100)

(1957-59-100)

(1957-59=100)

(1957-59=100)

(1957-59-100)

1968
January
February
March

118.6
119.0
119.5

117.2
117.6
118.2

111.4
111.7
112.0

130.8
131.3
132.1

107.2
108.0
108.2

108.1
108.7
108.9

112.2
113.3
113.7

99.3
101.1
101.9

April
May
June

119.9
120.3
120.9

118.5
119.3
.J9.0

112.2
112.5
113.0

132.5
133.0
133.9

108.3
108.5
108.7

109.1
109.1
109.4

113.9
114.3
113. *

102.3
102.3
100.9

July
August
September

121.5
121.9
122.2

119.2
119.5
120.0

113.3
113.7
114.0

134.9
135.5
136.0

109.1
108.7
109.1

109.7
109.5
109.9

114.6
114.5
114.7

102.2
101.6
103.5

October
November
December
1969
January
February
March

122.9
123.4
123.7

120.9
121.0
121.6

114.4
114.8
115.0

136.6
137.4
138.1

109.1
109.6
109.8

110.0
110.3
110.5

114.6
115.4
115.3

103.1
104.5
104.1

124.1
124.6
125.6

122.1
122.1
122.8

115.4
115.9
116.9

139.0
139.7
140.9

110.7
111.1
111.7

111.3
111.7
112.2

115.9
116.3
117.1

105.1
104.7
106.2

April
May
June

126.4
126.8
127.6

123.6
124.2
125.4

117.2
117.5
118.0

142.0
142.7
143.3

111.9
112.8
113.2

112.4
112.8
113.2

118.5
119.9
120.3

106.1
108.8
109-4

July
August
September

128.2
128.7
129.3

125.8
126.4
127.1

118.2
118.4
118.8

144.0
145.0
146.0

113.3
113.4
113.6

113.5
113.6
113.9

120.6
121.0
120.6

108.5
109.2
109.3

October...November
December
1970
January
February
March

129.8
130.5
131.3

127.2
128.6
130.3

119.4
119.6
120.1

14-6.5
147.2
148.3

114.0
114.7
115.1

114.6
114.9
115.3

121.8
122.5
123.1

110,0
112.3
112.6

131.8
132.5
133.2

130.8
131.8
132.0

120.5
120.6
120.9

149.6
150.7
152.3

116.0
116.4
116.6

116.1
116.4
116.6

125.0
125.2
125.7

112.7
113.4
114.0

April
May
June

134.0
134.6
135.2

132.4
132.9
132.4

121.6
122.3
122.8

153.4
154.1
155.0

116.6
116.8
117.0

Juiv
August
September

135.7

132.5

123.0

155.8

117.7
pH7.1

116.9
117.1
117.4
118.0
pH8.0

126.2
124.6
123.7
125.1

111.7
109.4
109.5
111.1

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by © . Series numbers are for
identification only.and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

86




AUGUST 1970

ItOI

ANALYTICAL MEASURES

Q| ACTUAL AND POTENTIAL GNP
Year
and
quarter

207, Gap (potential less actual)

Gross national product in constant (1958) dollars
206. Potential level x

205. Actual value

(Ann. rate, bil. dol,)

(Ann. rate, bil. dol.)

(Ann. rate, bil. dol.)

1967
First Quarter
Second quarter.
Third quarter.
Fourth quarter
1968

666.6
671.6
678.9
683.6

663.1
669.6
676.2
682.9

-3.5
-2.0
-2.7
-0.7

First quarter
Second quarter. ....
Third quarter
Fourth quarter
1969
First quarter
Second quarter. ....
Third quarter
Fourth quarter
1970
First quarter
Second quarter ....
Third quarter.
Fourth quarter

693.5
705.4
712.6
717.5

689.6
696.4
703.3
710.2

-3.9
-9.0
-9.3
-7.3

722.1
726.1
730.9
729.2

717.2
724.3
731.4
738.6

-4.9
-1.8
+0.5
+9.4

723.8
r724.9

746.4
754.3

+22.6
r-t-29.4

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.
1
Based on a trend line of 3.5 percent per year (intersecting actual line in middle of 1955) from 1st quarter 1952 to 4th quarter
1962, 3.75 percent from 4th quarter 1962 to 4th quarter 1965, 4 percent from 4th quarter 1965 to 4th quarter 1969 and 4.3 percent
from 4th quarter 1969 to 2nd quarter 1970.

BCII

AUGUST 1970



87

ANALYTICAL MEASURES

2 ANALYTICAL RATIOS
850. Ratio,
output to capacity, manufacturing

Year
and
month

(Percent)

851. Ratio,
inventories
to sales, manufacturing
and trade

852. Ratio,
unfilled orders to shipments, manufacturers'
durable goods

853. Ratio,
production of
business
equipment to
consumer
goods

854. Ratio,
personal saving to disposable personal
income

855. Ratio,
nonagricultural job openings unfilled
to persons
unemployed

(Ratio)

(Ratio)

(1957-59=100)

(Ratio)

(Ratio)

1968

mfg.

859. Real
spendable
avg. wkly.
earnings,
nonagri.
prod, or
nonsupv.
workers

(1957-59=100) (1957-59 dol.) (1957-59 dol.)
Revised1

857. Vacancy rate in
total rental
housing©

(Percent)

2.47
2.46
2.48

77.61
78.27
78.11

5^5

133^7

2.48
2.49
2.48

77.86
78.25
78.27

5^7

0.130
0.133
0.136

134^2

2.48
2.48
2.50

78.10
78.33
78.69

5^4

0.065

D.136
0.138
0.142

13 4*. 6

2.49
2.50
2.51

78.28
77.82
78.53

4^9

118.9
118.7
118.5

6.056

0.139
0.140
0.134

134! i

2.51
2.50
2.49

78.57
78.25
78.27

5.'6

3.24
3.26
3.17

120.0
121.8
122.0

0.053

0.133
0.138
0.139

134^6

2.49
2.49
2.49

78.37
78.43
78.32

5*.i

1.54
1.54
1.54

3.20
3.15
3.07

119.8
120.0
123.1

0.065

0.125
0.122
0.111

134^2

2.50
2.51
2.51

78,15
78.31
78.37

5^6

p81.7

1.54
1.56
1.59

3.03
3.09
3.16

124.6
121.1
120.6

0.063

0.111
0.119
0.112

134,' 3

2.50
2.50
2.50

78.21
78.11
77.98

4*7

P79.8

1.58
1.57
1.59

3.13
3.06
3.10

119.4
121.2
122.2

0.067

0.099
0.089
0.080

133.3

2.49
2.48
2.48

77.35
77.34
77.. 59

5.*6

1.61
1.58
pl.57

3.10
2.98
P2.95

rllS.3
r 0.075

pl34.*4

2.48
2.48
2.49

76.93
76.66
76.63

5. '6

rll5.8

0.069
0.063
0.063

(NA)

(NA)

plU.5

(NA)

p2.48

P76.73

P$l'.9

1.55
1.54
1.54

3.37
3.36
3.39

120.5
119.5
118.4

0.071

April
May
June

p&i'.B

1.55
1.54
1.52

3.41
3.36
3.28

117.9
117.6
117.0

0.076

pBl,',0

1.51
1.54
1.53

3.17
3.38
3.24

116.6
115.7
117.5

0.061

p84.2

1.53
1.53
1.56

3.19
3.22
3.38

118.1
119.5
118.2

January
February
March

P&1'.5

1.54
1.53
1.54

3.22
3.18
3.21

April
May
June

p84.5

1.54
1.54
1.53

July
August
September

p&L'.2

.'

October
November
December .

856. Real
avg. hourly
earnings,
prod, workers,

132.4

January
February
March

July
August
September

858. Output
per man-hour,
total private
nonfarm

0.127
0.122
0.129
0.138

o.uo
0.132

1969

October . ..
November
December

. .

1970
January
February
March
April
May
June
Juiv
August
September

rp78.0
. .

115.6

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by © . Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.
1

See "New Features and Changes for This Issue," page




iii.

AUGUST 1970

ANALYTICAL MEASURES

|J| DIFFUSION INDEXES: Leading Indicators

Year
and
month

Dl. Average workweek of production workers,
manufacturing (21 industries)

1-month span

1968
January
February
March

(2)

9-month span

D6. Value of manufacturers' new orders,
durable goods industries (35 industries)

1-month span

9-month span

(2)
14.3

r92.9
rl6.7

Dll. Newly approved capital appropriations,
NICB (17 industries)1

1-quarter span

3-quarter span

(^

(2)

57.1
71.4
68.6

r35

r47

69.0

51.4
55.7
50.0

r38.1
r71.4
r85.7

40.0
54.3
51.4

68.6
68.6
80.0

r53

r62

r31.0

51.4
44.3
78.6

71.4
88.6
82.9

r76

r71

r6l.9
r66.7

April
May
June

r59.5

July
August
September

r40.5
r33.3
r78.6

October . . .
November
December

r57.1

21.4

88.6
77.1
85.7

76

r40,5
r35.7

60.0
44.3
55.7

47

31.4
52.4

January
February
March

r47.6

r42.9
r23.8
r26.2

57.1
62.9
40.0

82.9
68.6
60.0

53

65

April
May
June

r38.1
r40.5
• 50.0

r35.7
r28.6

51.4
82.9
68.6

59

r65

23.8

54.3
45.7
40.0

July
August
September

33.3
45.2
50.0

r6l.9
r23.8
rl6,7

60.0
41.4
81.4

54.3
51.4
38.6

r53

47

October
November
December

34.3
57.1
81.0

9.5
9.5

45.7
40.0
28.6

r50

29

16.7

37.1
31.4
48.6

33.3
26.2
57.1

9.5
r21.4
-P21.4

34.3
65.7
41.4

42.9

r47

P29

r34.3
P34.3

r!9.0
88.1

50.0

r73.8

1969
28.6

r97.6

1970
January
February
March
April
May
June
juiv
August
September

28.6

48.6
51.4

r28.6
r47.6

r60.0

p6l.9

p60.0

P53

October
November
December
NOTE: Figures are the percent of series components rising (half of the unchanged components are considered rising). Data are centered within spans: 1-month indexes are
placed on latest month and 9-month indexes are placed on the 6th month of span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 3-quarter indexes are
placed on the 1st month of the 3d quarter. Seasonally adjusted components are used. Table E4 identifies the components for most of the indexes shown. The V indicates
revised; "p", preliminary; and "NA", not available.
\xi
1
This is a copyrighted series used by permission; it mav- be reproduced without written permission from the National Industrial
Conference Board.
2
See "New Features and Changes for"This Issue/' page iii.

ltd*

AUGUST 1970



89

ANALYTICAL MEASURES

HI

Year
and
month

D34. Profits,
manufacturing,
FNCB (about 1,000
corporations)

1-quarter span
1968
January
February
March

DIFFUSION INDEXES: Leading Indicators-Con.

D19. Index of stock prices, 500 common D23. Index of industrial materials prices
(13 industrial materials)
stocks (75 industries) ©l

1-month span

9-month span

1-month span

9-month span

D5. Initial claims for unemployment
insurance, State programs, week
including the 12th (47 areas)

1-month span

9-month span

55

64.5
10.5
21.1

61.8
63.2
71.1

46.2
46.2
53.8

30.8
46.2
46.2

25.5
80.9
25.5

57.4
51.1
61.7

April
May
June

47

94.7
83.6
80.3

76.3
82.7
85.3

46.2
53.8
50.0

53.8
61.5
73.1

63.8
51.1
53.2

38.3
51.1
74.5

July
August
September

57

48.7
17.8
86.7

93.3
97.3
81.3

46.2
65.4
57.7

76.9
57.7
76.9

57.4
40.4
63.8

36.2
66.0
76.6

October
November
December

56

82.7
77.3
72.7

71.3
52.0
56.0

69.2
69.2
38.5

92.3
92.3
84.6

66.0
31.9
61.7

63.8
78.7
59.6

53

12.0
43.3
13.3

73.3
40.0
14.7

53.8
61.5
46.2

84.6
80.8
76.9

72.3
38.3
55.3

70.2
46.8
40.4

April
May
June

53

54.0
74.7
1.3

12.0
6.7
21.3

65.4
57.7
76.9

69.2
76.9
92.3

48.9
57.4
23.4

58.5
34.0
25.5

July
August
September

50

4.0
34.7
61.3

25.3
21.3
20.0

61.5
76.9
57.7

76.9
76.9
69.2

51.1
59.6
38.3

28.7
24.5
8.5

October. ..
November
December
1970
January
February
March

50

72.7
68.0
4.0

14.7
25.3
31.5

46.2
50.0
50.0

69.2
69.2
76.9

45.7
31.9
57.4

6.4
12.8
12.8

52

43.3
23.3
82.7

5.5
5.6
5.6

50.0
30.8
57.7

61.5
42.3
38.5

31.9
25.. 5
44.7

4.3
2.1
11.7

r44

16.4
2.7
47.9

38.5

25.5
63.8
A2.6

1969
January
February
March

April
May
June
July
August
September

....

41.7

61.5
53.8
19.2
3

46.2
46.2

2

59.6

October
November
December
NOTE: Figures are the percent of series components rising (half of the unchanged components are considered rising). Data are centered within spans: 1-month indexes
are placed on latest month and 9-month indexes are placed on the 6th month of span; 1-quarter indexes are placed on the 1st month of the 2d quarter. Seasonally adjusted components are used except in index D19 which requires no adjustment and index D34 which is adjusted only for the index. Table E4 identifies the components for most of the indexes
shown. The V indicates revised; "p", preliminary; and "NA", not available. Unadjusted series are indicated by ®.
1
Based on 76 components through August 1968, on 75 components through March 1970* on 73 components, through May 1970, and on 72
components thereafter.
s
Average for August 4. 11, and 18.

90




AUGUST

1970

BUI

ANALYTICAL MEASURES

Q DIFFUSION INDEXES: Roughly Coincident Indicators

Year
and
month

D41. Number of employees on
nonagricultural payrolls
(30 industries)

1-month span

C1)

1968

6-month span

D47, Index of industrial production
(24 industries)

D58. Index of wholesale prices
(22 manufacturing industries)®

D54. Sales of retail stores
(23 types of stores)

1-month span

6-month span

41.7
70.8
72.9

75.0
83.3
70.8

90.9
84.1
68.2

90.9
95.5
90.9

73.9
65.2
82.6

82.6
91.3
91.3

1-month span

6-month span

1-month span

9-month span

C1)

January
February
March

r58.3
r?3.3
r66.7

April
May
June

66.7

86.7

r?0.0
r?6.7

r83.3
r80.0

43.8
64.6
72.9

87.5
70.8
79.2

72.7
63.6
61.4

75.0
84.1
81.8

26.1
60.9
65.2

87.0
91.3
87.0

July
August
September .

r70.0
r75.0
r68.3

r80.0
r83.3
r80.0

58.3
58.3
68.8

75.0
75.0
70.8

68.2
70.5
72.7

84.1
81.8
86.4

63.0
58.7
30.4

78.3
47.8
78.3

October
November
December

r68.3
r81.7
73.3

r90.0
r83.3
r86.7

58.3
70.8
56.2

66.7
70.8
79.2

79.5
79.5
61.4

81.8
81.8
90.9

52.2
54.3
26.1

82.6
65.2
65.2

r91,7
r71.7
r73.3

r86.7
r76.7
r73,3

54.2
62.5
91.7

83.3
70.8
77.1

68.2

81.8

69.6

72.7
75.0

79.5
84.1

60.9
21.7

73.9
82.6

r51.7
r56.7

r75.0
r68.3
r58.3

45.8
66.7
70.8

75.0
72.9
62.5

84.1
79.5
84.1

90.9
90.9
88.6

73.9
41.3
54.3

67.4
65.2
56.5

96.7

r80.0
r81.7

1969
January
February
March. .

. .

April
May
June

63.3

71.7

July
August
September

51.7
55.0
48.3

r53.3
50.0
50.0

45.8
54.2
37.5

45.8
56.2
41.7

77.3
68.2
77.3

86.4
86.4
81.8

45.7
50.0
30.4

50.0
52.2

October...November
December

50.0
45.0
63.3

43.3
46.7
43.3

43.8
62.5
45.8

33^3
41.7
33.3

68.2
84.1
72.7

81.8
81.8
72.7

63.0
34.8
60.9

73.9
65.2
87.0

45.0
41.7
45.0

33.3
35.0

r56.2
r33.3
27.1

86.4
77.3
72.7

77.3
84.1
77.3

60.9
58.7
50.0

P82.6

r30.0

37.5
52.1
45.8

25.0

P21.7

r56.2
29.2
r33,3

P41.7

68.2
70.5
56.8

81.8

r21.7
r26.7

P30.0

P60.4

56.5

1970
January
February
March
April
May
June
July
August
September

61.4

78.3

(NA)

82.6

r54.3
P32.6
(NA)

October
November
December
NOTE: Figures are the percent of series components rising (half of the unchanged components are considered rising). Data are centered within spans: 1-month indexes
are placed on latest month, 6-month indexes are placed on the 4th month, and 9-month indexes are placed on the 6th month of span. Seasonally adjusted components are used
except in index D58 which requires no adjustment. Table E4 identifies the components for the indexes shown. The "r" indicates revised; tfp", preliminary; and "NA", not
available. Unadjusted series are indicated by®.
1

See "New Features and Changes for This Issue," page iii.

BCII

AUGUST 1970



91

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change
1969

1970

Diffusion index components
December

January

March

February

April

May

July p

June

Dl. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURINGx
(Average weekly hours)
1-

All manufacturing industries

40.7

-

(81)

Percent rising of 27 components ............

Durable goods industries:
Ordnance and accessories
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Instruments and related products
Miscellaneous manufacturing industries

+
+
o
+
+
T
+
tf
o
+

40.5
40.3
40.0
42.1
41.7
41.5
42.6
40.3
41.4
40.9
39.3

+
-

Nondurable goods industries:
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and related products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and related products
Rubber and plastic products
Leather and leather products

o
40.8
36.2
+
40.9
+ 36.0
+ 42.8
+ 38.6
o
41.8
42.3
+ 41.1
+ 37.7

+
+
o

+
o

+
+
-

40.3

39.9 +

40.2

(33)

(26)

(57)

40.6 + 41.3
41.1
39.6 1- 40.1
39.5
39.4
39.3
39.5
41.7 0 41.7 + 41.8
41.2
40.7
40.9
41.1 + 41.2
41.4
42.2
40.5
40.2 +
40.7
39.3

41.9
39.7
40.3
40.2
38.6

-1+
+
+

41.8
40.2
40.4
40.7
39.0

41.0
40.5
40.7
+
37.5
37.3
38.3
40.1 +
40.2
40.4
35.6
35.6
35.5 -r
42.8
42.2
42.3
38.0
38.0 o
38.2
41.8 o 41.8
42.0
42.2
42.7
42.5 +
40.7
40.9 + 41.0
37.4
37.1 +
37.5

-

+ 39.9
(62)
-

40.5
39.4
- 38.4
+ 41.5
o 40.4
+ 41.0

41.4
40.0 39.7 +
40.5 39.0

i+
41.1 o
r39.7 o
r40.3 +
r40.1 38.7

r40.6
r39.4
r38.8
r41.2
r40.4
r40.9
r41.1
39.7
r41.6
r39.9
38.6

40.6
38.3
40.6
35.5
42.1
37.9
41.4
41.9
40.7
37.4

40.7 ~
37.1 +
39.8 +
+
35.1
r41.8 37.7 o
41.5
r42.5 +
r40.0 +
r37.7 -

r40.3
r37.5
39.9
r35.2
r41.7
r37.7
r41.4
r42.6
40.2
r37.5

-1"

39.8

(29)

(29)

o 41.1
+
39.8 39.3
41.6
40.1 +
40.9

40.8
r39.7
38.8
41.3
40.2
40.6

o
•*•
+
+
0

0

o

39.8
(48)

40.0

+

+
-i-

+

o

0

+ 41.2
o 39.7
- 41.0
o 39.9
+ 38.9

+

+
0

+
0

+
+
-

40.2
38.1
40.4
35.6
41.7
37.8
41.4
42.7
40.7
37.3

D6. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES1
(Millions of dollars)
- 30,295
(49)

- 28,909 + 29,657 (66)
(34)

Primary metals
Blast furnaces steel mills
Nonferrous metals
Iron and steel foundries
Other primary metals.

4,760
- 2,007
-t...
+
...

+
+

Fabricated metal products
Metal cans barrels and drums
Hardware, structural metal and wire products
Other fabricated metal products

+

All durable goods industries

Machinery, except electrical
Steam engines and turbines*.
Internal combustion engines*
Farm machinery and equipment
Construction, mining, and material handling*.
Metalworking machinery*
Miscellaneous equipment*
Machine shops.
Special industry machinery*
General industrial machinery*
Office and store machines*
Service industry machinery*

+

3,384

+
-t+

4,419
1,855 -r

-t-

3,H6

3,024
...

...

5,548

677
264

5,390

1}
-t-ii-

540 1}
...
751 f
310

...
576

-

527
... ]

(41)

4,500
1,951

- 28,612 +
(49)

29,476 + r29,743
(60)
(51)

+31,565
(60)

4,844
2,172 -

4,705
r4,869
2,133 -1" 2,237
+
+

4,759
- (NA)

•t-i+

-t-

...

-f

:} ^9
+
+
+

4,787
2,079 -

28,632

-to
+

3,159
...
...

5,121
5,551
520 1} 358
720
239

770
272

-f

...

f

572

+
512
-

+

3,370

2,957
+
-t-

5,363
;} 478 1}

+
•t+
-i-

694 t277 +
...

+
485 +
-t. .

-t-

3,471

(NA)

+

+

+

5,371
5,191
404 1} 343
-t707
755
266
289
•+•
...
+
545 -1"

+
+

552

(NA)

+} (NA)
+
+
+
+
+

(NA)
(NA)

ff

"

(NA)

^*

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:: (+) - rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA = not available, p = preliminary, r = revised. *Denotes machinery
and equipment industries that comprise series 24.
-'•Data are seasonally adjusted toy source agency.

92




AUGUST 1970

Kill

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1969

1970

Diffusion index components
December

January

February

April

March

May

July

June

D6. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES^Continued
(Millions of dollars)
Electrical machinery
Electrical transmission distr, equipment*
Electrical industrial apparatus*
Household appliances
Communication equipmentf
Electronic components

4,110

:}
**...
+
+

1,402 -

3,633

717 + } 729

;}
^
+

...

_

1,182

971 +
+

+
+
+
+
+
+

_
+

-t-

I)

+

...

... +

+
-j-

+

7,230
...
...
...
...
...

6,671
+
...

-t-

...

-1-

...

+
•+-

3,699

?2

f} 707

;} ^
+
+

1,171 -

+
+

1,131
...
... +

(NA)

t} (NA)

...
...
867 +

(NA)

... +

p8,132
r7,124
... +
+
...
+
...
+
...
... ~t~
...

6,845

6,465

+
+
...
... +

+
+

...
...
+

6

...

~r

3,832

3,677

1,068 +

6,414

6,995

Shipbuilding and railroad equipment*
Other transportation equipment

Furniture total
Stone clay and slass total
Other durable goods total

l)

+

Transportation equipment
Motor vehicles and parts total
Complete aircraftt

3,786

3,667

...
...

+

...

... -

+

+
... +

...
...

+

-t-

... ~t~

...

85.95 (16)

76.06 -

75.59 +
(48)

75.72

...

D19. INDEX OF STOCK PRICES, 500 COMMON STOCKS2
(1941-43 - 10)
Index of 500 stock prices

-

91.11 -

U)

Coal bituminous
Food composite
Tobacco (cigarette manufacturers)
Textile products
Paper
Publishing
Chemicals
Drugs
Oil composite
Building materials composite
Steel
Metal fabricating
Machinery composite
Office and business equipment
Electric household appliances
Electronics
Automobiles
Radio and television broadcasters
Telephone companies
Natural gas distributors
Retail stores composite
Life insurance

+

-

...

90.31 (43)

+
+

T

88.65

-

(83)

(23)

... +
...

-

87.16

...

+
+
+
+

-

...
...

...

+
... -j-

...

•+-

...

-j-

-

+

"~

+

-

...

-

-

-

-

...

H-

...

... +
...
... +
+

... -

+

-

-

+

...

-

+
+

+
...
... +

+

... +

+

_
_

+

... -

...

__
_

__
-

-i-

(A2)
...
...

_

... ...

-i_

+

... +
+
• . . .+
+

+
+
-(-

-i...

+
+
+

+
+
-t... +

+

+

(3)

...
...

-

+
+
+
... o

...
...

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers areheld confidential by the source agency. NA = not available, p = preliminary, r = revised. *Denotes machinery
and equipment industries that comprise series 24. t These industries plus ordnance comprise series 647.
•'•Data are
Data are
representing
3
Based on
2

seasonally adjusted by the source agency.
not seasonally adjusted. The components shown here include 18 of the more important industries and 5 composites
an additional 23 of the industries used in computing the diffusion index in table E3.
75 components through March 1970, on 73 components through May 1970, and on 72 components thereafter.

AUGUST 1970



93

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1969

1970

Diffusion index components
February

January

December

May

April

March

June

August1

July

D23. INDEX OF INDUSTRIAL MATERIALS PRICES2
Industrial materials price
index (1957-59-100)

+

117.2

+ H9.4

i-

120.0

-

119.2

-

118.7

-

118.0 -

115.3

-

112.8

111.9

(46)

(46)

+

.594
.068
43.599
1.669
.161
.155
.252
.223
1.382
.168
12.806
.190
.083

(Dollars)

Cotton (Ib.), 12-market average
Print cloth (yd.), average
Wool tops(lb.)
Hides (Ib.).
Rosin (100 Ib.)
Rubber (Ib.)
Tallow (Ib.)

+
+
+
+
o
-1-

.613
.078

35.050
1.778
.160
.163
.251
.222

1.535
.181

+

12.887
.245
.068

+

.598
+
.079
-t- 38.318
+ 1.794
.159
.156

+

.247
o
.222
- 1.520
+
.183
- 02.849
+
.263
+
.070

+
o
-

.251
.222

+

1.519

-r

1.533

-

12.738

-

12.666

.609
.077

+ 45.023
1.725
o
.159
.151

- 44.336
-11.788
o
.159
+
.153
.252
.223
.176

.179
.254
.066

.642
.073

+

.223
.072

(54)

(62)

(58)

(3D

(50)

(50)

Percent rising of 73 components

Copper scrap (Ib.)
Lead scrap (Ib.)
Steel scrap (ton)
Tin (Ib.)
Zincflb.)
Burlap (yd.)

+
t-1+

+
.652
o
.074
40.816 -t 43.909
1.852 1.824
.160
o
.160
.148
+
.159
.650
.074

o
.252
o
.223
1.488
+
.182
i- 12.704
-t-

.215
.079

(19)

o
+
o
-

.587
.074

45.398
1.726
.160
.156

+

.250
-t.251
.224
.225
1.410 1.435 +
.167
.159
+ 12.767 o 12.767 +
.204
.214
.080
+
.082
+

-i-

.535
.063

+
o
+
+
o

42.098
1.755
.161
.161
.254
.223

1.375
.161

+
+

12.870
.194
.082

D5. INITIAL CLAIMS FOR UNEMPLOYMENT INSURANCE, STATE PROGRAMS 3
(Thousands)
Avg. weekly initial claims ...

-t-

North Central region:
Chfcago (2) . . . .
Cincinnati (20). .
Cleveland (10)
Columbus (25)
Detroit (5) .
Indianapolis (23)
Kansas City (19).
Milwaukee (18)
Minneapolis (13)
St. Louis (8)
South region:
Atlanta (17)
Baltimore (12)
Dallas (15)
Houston (14)
West region:
Los Angeles (3)
Portland (24)
San Francisco (6)
Seattle (16)

326

263

(26)

(32)

(57)

Percent rising of 47 components

Northeast region:
Boston (7)
Buffalo (21)
Newark(ll)
New York (1)
Paterson (22)
Philadelphia (4)
Pittsburgh (9)
Providence (26)

250

232

210

+
+
+

...
...

+

...

+
-t+
+
-t-

...
...

_
_
+
-t-

...

!!!
+

+

...

+

...

4-

...

+

...

-t-

...

...

...

-

+

...

+
+

...
...

-t•t"
+
+

...
...
...
...

...
-i-

+

...
...

...

...
-h

...

+

...

...

+

~*~

...

+

-t+

...
...

+

...

+
-t-

...

+

...

+

-

-

+

...

265
(60)

+
+
+
+
+

...
...

...
...

...

...

+
+
+

+

+
+

+
+

t-

+

+
+
+

+

+

+

+
+

+

+

-

-t-

+

303
(43)

+

...

-h

+

+

+

-

+
+

...

313
(64)

-

...

_
_
+

+

+

(26)

(45)

+

'+

...

+

...

...

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA = not available, p = preliminary, r = revised.
1

Average for August 4, 11, and 18.
Series components are seasonally adjusted by the Bureau of the Census.
The industrial materials price index is not seasonally adjusted.
3
The signs are reversed because this series usually rises when general business activity falls and falls when business rises:
(-) = rising, (o) = unchanged, and (+) = falling.
Series components are seasonally adjusted by the Bureau of the Census before
the direction of change is determined. Data used are for the week including the 12th of the month.
Directions of change are
shown separately for only the 26 largest labor market areas. The number following the area designation indicates its size rank.
2

94




AUGUST 1970

BCII

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1969

1970

Diffusion index components
December

January

February

March

May r

April

JulyP

June

D41. NUMBER OF EMPLOYEES ON NONAGRICULTURAL PAYROLLS 1
(Thousands of employees)
All nonagricultural payrolls

o

Percent rising of 30 components

Ordnance and accessories
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery
Electrical equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and related products
Paper and allied products.
Printing and publishing
Chemicals and allied products
Petroleum and related products
Rubber and plastic products
Leather and leather products
Mining
Contract construction
Transportation and public utilities
Wholesale trade
Retai 1 trade
Finance, insurance, real estate
Servke and miscellaneous
Federal government
State and local government

+
i+
to
~
+
+
-t+
+
o
-1-

70,842

-t- 70,992

-i- 71,135

(63)

(45)

(42)

164
524
396
527
1,103
1, 110
1,391
1,255
1,403
292
351

1,213
64
874
1,238
557
691
620
118
457
290

-

1+
+
-t-t
o
-t+

HT

627
3,496
4,469
3,807
10,943
3,626
11,431
- 2,721
+ 9,640

-1-t+
-t+
+

156
523
395
520
1,086
1,100
1,383
1,246
1,384
289
343
1,226
67
878
1,242
558
691
619
119
459
289
625
3,394
4,507
3,828
11,110
3,648
11,472
2,717
9,673

+
T
o
o

155
515
390
522
1,072
1,090
1,381
1,319
1,291
289
343

IT

71,256

-

o
o
•*•
+
o

151
511
390
517
1,063
1,087
1,381
1,323
1,358
289
339

1,241
67
867
- 1,226
557
690
616
o
119
454
285

-io

- 1,235
o
67
861
- 1,223
+
558
o
690
613
o
119
453
284
626
+
626 o
-t- 3,466 + 3,481
4,496 + 4,502
-i- 3,834 + 3,847
+ 11,153 - 11,137
+ 3,652 + 3,665
+ 11,530 + 11,537
o 2,718 T 2,780
+ 9,723 + 9,737

71,163

-

o
o
-

+

70,852

- r70,598 - 70,455

(22)

(25)

(45)

143
1U
501
504
386
375
506
512
1,049 - 1,037
1,079 - 1,060
1,366 - 1,340
1,313 - 1,294
1,345 - 1,317
286
289
332
329
1,217 - 1,216
67 +
68
860
852
1,221 - 1,206
556
551
681
687
606
610
118
118 o
412
450
285
284

622
3,426
4,468
+ 3,853
o 11,138
-«- 3,673
-i- 11,564
t 2,852
i- 9,772

+
-i•*+
f

171.1 - 170.2

-

620
3,351
4,478
3,859
11,109
3,677
11,572
2,781
9,833

(30)

(27)

+
o
-

r!37
r505
r371
r506
rl,032
rl,057
r 1,322
rl,285
rl,312
r283
r326

- rl,210
o
r68
r842
f 1-1,214
r550
r679
r604
-irl!9
+
r428
+
r285

+
T
o
-

133
486
369
497
1,034
1,068
1,318
1,285
1,306
281
322

- 1,204
o
68
841
t- 1,222
545
675
o
604
118
+
441
283

r6l9
617
- r3,326 - 3,311
+ r4,498 + 4,507
3,840
- r3,854 - rll,087 o 11,082
- r3,672 + 3,676
-rll,5l6 - 11,484
- r2,663 - 2,633
+ r9,890 + 9,905

D47. iNDEX OF INDUSTRIAL PRODUCTION1
(1957-59=100)
All industrial production
Percent rising of 24 components

Durable goods:
Primary and fabricated metals. . . .
Primary metal products
Fabricated metal products
Machinery and related products . .
Machinery, except electrical
Electrical machinery
Transportation equipment
Instruments and related products
Clay, glass, and lumber
Clay, glass and stone products
Lumber and products
Furniture and miscellaneous
Furniture and fixtures
Miscellaneous

-

171.1 - 170.4

+ 170.5
(52)

-i-

(46)

(56)

- 147i7 - 143 il - 139 .*2 + 14li9
. 178.4 + 180.0 _ 178.9 - 178.3

- r!38i9
- 175.2

195 id
+ 195.9
- 154.3
- 194.0

+ 196i6
-t- 202.5
-t- 156.0
- 193.6

- i9ii7

+ 157 '.4 - 154.5
- 109.7 -t- 118.0

+ 155 i6
- 117.5

-

+ 183.4
T 168.2

- 179.4
i- 168.4

-f 180.4
- 167.8

(46)

+ 196^5
-t- 178.3
- 163.9
+ 197.4

- 183.3
-t- 167.2

(38)

195.' 9
+ 181.5
- 159.6
- 194.8

169.1 (29)

+ 142i6
- 171.4

- 187 il
- rl99.1 - 195.8
- r!53.1 + 157.3
-i- 195.4 - 191.3

151*. 7 i- 154.6
113.1 + 115.5

rl68.8

+ 169.2

(33)

(60)

+
+

145
173

- 185 ii o
+ r!97.6 +
+ 160.1 t- r!87.9

185
198
160
184

+ rl43 ".7
+ rl71.8

- 135.2
- r!52.4 - U9.8
(NA)
+ pll6.1

179 '.5 - 174 ".4 - r!72.9
- 167.4 - 163.6 - rl6l.9

133
150
(NA)

+

171
162

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA = not available, p = preliminary, r = revised.
-"•Data are seasonally adjusted "by the source agency.
Where actual data for separate Industries are not available, estimates are used to compute the percent rising. Directions
of change for the most recent spans are computed before figures for the current month are rounded.
2

HCII

AUGUST 1970



95

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1969

1970

Diffusion index components
December

January

February

April

March

May

June

July

D47. INDEX OF INDUSTRIAL PRODUCTIOI^-Continued
(1957-59-100)
Nondurable goods:
Textiles apparel and leather
Textile mill products
Apparel products
Leather and products

-

p!36
(NA)
(NA)
(NA)

r!36.4
p!46.5
(MA)
(NA)

- 150.3
- 147.9
- 98.0

+ 152.9
- 145.8
- 96.9

- 151.3
- 141.7
o 96.9

- 15<X3
- 140.1
- 95.9

+ 151.3
+ 140.8
+ 100.2

- r!48!l
- p!40.5
+ p!04.8

Paper and printing
Paper and products
Printing and publishing

+ 178! 6

- 173^8
- 157.9

H- 174! a
- 157.3

+ 174^9
- 156.9

+ r!76i3
o 156.9

- 174^1
+ r!57.2

+
pl62
(NA)
- pl69^5
- 154.8 + P155

Chemicals, petroleum, and rubber
Chemicals and products
Petroleum products
Rubber and plastics products

+ 24l!7

- 149.5

- 240.2
- 143.3
- 231.4

+ 242.6
- 143.0
+ 234.0

- 242! 3
+ 146.6
-t- 235.3

+ r244.4
-t- 147.9
+ r239.4

- r241.2
- r!45.8
- p218.4

+ r221.7 +
- p240.0
- P144.4
(NA)

Foods, beverages, and tobacco
Foods and beverages
Tobacco products

+ 142!i
- 115.1

+ 144.7
+ 117.8

+ U5^2
-r 122.8

- 143^3
- 116.8

+ 143 ^7
-h 325.1

- r!42!9
- pl!7.8

+ 119.3
-t- 132.6

- 113.1
- 131.4

+ 122.3
+ 131.8

- 121.5
+ 132.4

-t 123.0
- rl31.3

+ 134.2
+ r!31.9

- 152 !3
+ 154.8

t- 155^7
- 142.6

+ 149.8

Minerals:
Coal
Crude oil and natural gas
Metal, stone, and earth minerals
Metal mining
Stone and earth minerals

- 158.6

-

234.8

P223
(NA)
(NA)
(NA)

r!40.3 +
p!42.1
(NA)

p!41
(NA)
(NA)

- r!5C)!5
- r!42.8

- r!24.8 o
+ 134.1
-t- p!49l9
-r 143.5

p!25
p!34
p!48
(NA)
(NA)

i- 116.9
(68)

i-

117.1
(70)

1-

+
o
+

120.2
108.6
H7.9
120.2

+
+
+
+
+
+
+

155.0
118.1
130.4
128.2
123.1
108.2
109.5
121.0

t isaii -t- 165 !a + 150.1 -

162^6
146.1

-

D58. INDEX OF WHOLESALE PRICES, MANUFACTURING INDUSTRIES2
(1957-59-100)
All manufacturing industries

Durable goods:
Lumber and wood products
Furniture and other household durables.
Nonmetallic mineral products
Iron and steel
Nonferrous metals
Fabricated structural metal products
Miscellaneous metal products. . .
General purpose machinery and equipment
Miscellaneous machinery
Electrical machinery and equipment
Motor vehicles and equipment
Miscellaneous products
Nondurable goods:
Processed foods and feeds
Cotton products
Woo! products
Manmade fiber texti le products
Apparel
Pulp, paper, and allied products
Chemicals and allied products
Petroleum products refined
Rubberand plastic products
Hides, skins, leather, and related products

+ 116.6

+ 115.3
(73)

1- 116.1
(86)

-t- 116.4

- 122.5
-i- 107.2
+ 114.5
+ H3.9
+ 150.1
+ 113.7
+ 124.5
-i- 124.8
+ 121.0
+ 106.2
o 109.0
o 117.0

- 121.6
t- 107.5
-r H6.5
+ 114.6
-i- 152.8
+ 114.0
+ 124.9
+ 126.1
+ 121.5
•r 106.8
+ 109.1
+ H7.4

- 120.2
+ 107.9
-i- H6.9
+ 117.0
o 152.8
+ 114.6
+ 125.2
+ 126.5
+ 121.7
+ 106.9
o 109.1
+ 117.5

- 119.5
+ 108.1
-t- H7.3
+ 117.7
+ 153.4
+ 116.0
+ 127.1
+ 127.1
+ 122.3
+ 107.2
+ 109.4
+ 117.8

-t- 120.1
+ 108.3
+ 117.8
- 117.3
+ 157.1
+ 116.4
+ 127.5
+ 127.6
+ 122.8
-r 107.3
- 109.3
o 117.8

-t- 121.0
o 108.3
-t- H7.9
+ 118.9
+ 157.2
+ 117.3
+ 128.3
+ 127.9
+ 122.9
+ 107.5
-r 109.4
+ 118.2

+ 122.6
+ 106.1
- 104.3
- 91.1
+ 116.9
i- 109.5
- 98.8
+ 102.2
+ 104.5
- 126.5

+ 125.1
o 106.1
o 104.3
+ 91.5
+ 117.2

+ 125.2
o 106.1
o 104.3
- 91.0
+ 117.5
+ 111.8
-i- 99.5
+ 101.2
- 104.6
+ 126.7

- 124.9
- 105.8
+ 104.4
- 90.4
+ H7.9
+ 112.1
-r 100.0
- 100.8
- 104.4
+ 126.8

o 124.9
o 105.8
- 104.0
- 89.9
o 117.9
-i- 112.5
-t- 100.4
+ 101.3
- 104.2
+ 128.5

- 124.1
o 105.8
- 103.8
- 89.5

+ 111.1
-i- 99.1
- 101.0
-t- 104.7
+ 126.6

(77)

(73)

-r

118.0

- 112.3
+ 100.6
+ 104.2
o 104.2
- 127.9

117.4 + 118.0
(61)
(57)

+
+
+
+
+
+
+
+

119.6
108.8
118.1
120.4
152.6
119.1
131.2
129.8
123.0
108.6
109.4
121.4

+ 124.8 + 126.6
-t 105.9 - 105.8
- 102.8 - 102.6
89.0
88.4
+ 118.4 o 118.4
- 112.2 + 112.5
- 100.5 + 100.9
- 102.2 + 102.4
- 104.1 + 105.6
127.3' - 127.1

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA = not available, p = preliminary, r = revised.
1

Data are seasonally adjusted by the source agency.
Data are not seasonally adjusted.

2

96




AUGUST 1970

ItCII

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1970

1969
Diffusion index components
December

January

February

May r

April

March

June P

July

D54. SALES OF RETAIL STORES 1
(Mi II ions of dollars)
- 29,419

+ 29,570

(61)

Percent rising of 23 components

Grocery stores
-r
Eating and drinking places
Department stores
iMail-order houses (department store merchandise) . . -1-

(61)
+
+
+
-r

574

-t-

391 +
608 +
273 -t-

-r

553

+

396
603
335

Furniture home furnishings stores
Household appliance, TV, radio stores
Lumber yards, building materials dealers
Hardware stores

-t+
-1+

B55
439
916
264

+
+

Passenger car and other automotive dealers
Tire, battery, accessory dealers
Gasoline service stations
Drug and proprietary stores
Liquor stores

-

5,086
36?
2,097
1,000
594

•i-r
-h
-r

6,239
2,209
3,108
330

885
465
897
246

-t
i+

1+

4,701 -i413 +
2,184 o
1,038
649

-

(59)

6,026
2,137
3,113
310

Variety stores
Men's and boys' wear stores
Women's apparel accessory stores
Shoe stores

t-

+ 29,980

B92
426
949
256

4,901
424
2,183
1,034
633

-

30,502 - 30,432
(54)

(S3)

(50)

(NA)

(33)

(NA)
(NA)
(NA)
(NA)
(NA)

6,233 -t2,273 +
3,060 4323

6,290
2,296
3,285
309

t
-t+

6,305 -f
2,353 3,185 336

6,375
2,331
3,135
304

+
-tt-t-

596
397
634
293

•t-

613
387
627 +
284 -i-

577
379
653
288

(NA)
(NA)
(NA)
(NA)

868 +
426 4927
241 4-

877
469
914
244

876
318 -i-

864
455
914
281

(NA)
(NA)
(NA)
(NA)

+
4-i-

4,921 +
429 -i2,203 +

4-

1,051 -

-t-

655 +

5,029
440
2,213
1,044
669

5,003
412
2,215
1,055
687

(NA)
(NA)
(NA)
(NA)
(NA)

6,221 -t
2,270 t3,129 338
560
420
650
296

29,801 1- 30,537

-t-

o

562
383
590
271

4-

+
o
4-h

936

281 o

4,909
440
2,233
1,040
674

-t-t-i-

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA = not available,
p = preliminary. r = revised.
-'-Data are seasonally adjusted by the source agency.
2
The diffusion index includes estimates for six types of stores not shown separately.

KCII

AUGUST 1970




97

INTERNATIONAL COMPARISONS

Q CONSUMER PRICES
133. Canada,
781. United
index of consumer
States, index of
consumer prices® prices©

Year
and
month

132. United King- 135. West Germany, 136. France,
dom, index of
index of consumer index of consumer
prices ®
consumer prices® prices ®

138. Japan, index
of consumer
prices @

137. Italy, index
of consumer
prices ®

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59-100)

(1957-59=100)

1968
January
February
March

119
119
120

123
123
123

132
133
133

125
125
125

147
147
147

161
161
162

140
140
140

April
May
June

120
120
121

124
124
124

136
136
136

125
125
126

147
148
148

162
163
161

141
141
141

July
August
September

122
122
122

125
125
126

136
137
137

126
125
125

149
149
150

162
162
168

140
140
141

October
November
December
1969
January
February
March

123
123
124

126
127
127

137
138
140

126
126
127

152
152
153

166
167
166

141
141
141

124
125
126

127
127
128

140
141
142

128
128
129

155
155
156

167
167
169

142
142
143

April
May
June

126
127
128

129
130
131

143
143
144

129
129
129

156
157
158

171
171
171

143
143
144

July
August
September

128
129
129

131
132
131

142
143
144

129
129
130

158
159
160

175
175
177

145
145
145

October . . .
November
December
1970
January
February
March

130
130
131

132
132
133

145
145
146

130
130
132

161
161
162

176
176
176

146
147
147

132
132
133

133
134
134

147
14-8
149

132
133
133

163
164
164

179
181
183

148
149
150

...

134
135
135

135
135
135

151
(NA)

134
134
134

165
166
(NA)

184
182
181

r!50
(NA)

. . .

136

(NA)

April
May
June
Juiv
August
September

(NA)

(NA)

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

98




AUGUST 1970

BUI

INTERNATIONAL COMPARISONS

Q INDUSTRIAL PRODUCTION

Year
and
month

47. United
States, index of
industrial production

123. Canada,
index of industrial production

(1957-59-100)

(1957-59=100)

122. United
Kingdom, index
of industrial
production

(1957-59-100)

126. France,
index of industrial production

(1957-59-100)

128. Japan, index of industrial
production

121. OECD,1
European countries, index of
industrial production

(1957-59=100)

(1957-59=100)

(1957-59-100)

125. West Germany, index of
industrial production

127. Italy, index
of industrial production

(1957-59-100)

1968
January
February
March

162
162
163

172
172
173

135
136
138

164
165
169

159
161
166

348
354
351

162
163
166

217
219
220

April . . .
May
June

163
165
166

175
176
179

136
138
138

167
116
136

165
167
180

362
372
373

166
157
165

221
222
223

July
August
September

166
165
166

178
178
180

138
140
141

171
171
171

167
178
177

382
382
389

168
171
173

223
217
232

October
November
December

166
168
169

182
184
185

141
142
143

179
182
184

176
185
187

397
407
401

175
178
180

234
227
234

1969
January
February
March .

169
170
171

185
r!88

141
1A2
U4

183
181
180

187
189
191

403
410
405

180
181
182

236
232
239

April . . .
May
June

172
172
174

r!88

143
143
144

186
188
183

190
195
198

428
430
435

184
185
186

241
236
242

July
August
September

175
174
174

r!87

145
143
U3

188
188
187

190
197
193

446
443
458

187
187
185

243
238
227

October...
November
December
1970
January
February . .
March

173
171
171

r!86

143
146
145

191
186
190

197
207
203

469
466
477

187
189
188

214
212
220

170
170
171

r!92

•144
146
148

196
197
195

1205

475
486
488

193
195
196

248
250
249

April
May .
June

170
169
169

r!92
p!91
(NA)

148
P143
(NA)

pl98

r207
p209

(NA)

(NA)

juiv
August
September

pl69

191

186
r!87

183
185
189
rl90

195
191

r!98

r207
r208

r504
r502
P519

r!96
p!95
(NA)

247
(NA)

(NA)

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.
•'•Organization for Economic Cooperation and Development.

KUI

AUGUST 1970



99

INTERNATIONAL COMPARISONS

Q STOCK PRICES

Year
and
month

(1957-59=100)

145. West Germany, 148. Japan, index
of stock prices ®
index of stock
prices ®

147. Italy, index
of stock prices®

142. United Kingdom, index of
stock prices ©

146. France, index
of stock prices ©

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59=100)

19. United States, 143. Canada, index
of stock prices®
index of stock
prices, 500 common
stocks ®

1968
January
February
March

193
184
181

189
177
171

202
208
213

107
104
113

205
209
207

203
208
209

134
130
133

April
May
June

194
198
204

183
185
187

235
246
252

117
111
107

216
219
226

220
229
235

136
135
133

July
August
September

203
199
205

194
192
198

265
272
279

103
105
105

230
231
224

243
254
276

136
138
136

October
. .
November
December

210
214
216

203
204
210

270
273
279

104
105
109

228
224
219

275
264
266

131
127
134

January
February
March

207
206
201

214
213
208

291
282
270

113
127
137

228
230
231

279
282
279

135
133
136

April
May
June

205
212
201

213
224
209

266
253
235

136
144
131

233
243
247

293
302
304

152
153
150

July
August
September

192
191
192

199
199
204

227
226
229

128
135

238
247
252

300
293
310

146
152
153

October
November
December

194
195
185

206
214
213

225
227
234

144
141
147

262
274
266

324
336
350

162
163
156

January
February
March

183
177
180

216
212
216

246
238
232

155
150
147

255-

362
361
383

157
156
157

April
May
June

174
154
153

210
182
176

228
204

142
137
134

383
321
327

162
152
p!41

154
pl6l

rp!72

203

rp!31

p!76

p208

p!37

rp331
P335

rp!37
p!43

1969

134

'

1970

July
August
September

r!99

248
24.7

245
226
p218

rp2l6
p227

October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Series numbers are for
identification only.and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

100




AUGUST 1970

ltd*

C. Historical Data for Selected Series
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol ® (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Monthly

Quarterly

Year
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

1. AVERAGE WORKWEEK OF PRODUCTION WORKERSt MANUFACTURING 1
(HOURS)

II Q

IIIQ

IV Q

Annual

AVERAGE FOR PERIOD

1945...
1946...
1947...
1948...

45.3
40.8
40.5
40.4

45.4
40.4
40.4
40.2

45.2
40.5
40.3
40.3

45.1
40.4
40.2
40.2

44.3
39.9
40.6
40.3

44.5
39.8
40.3
40.2

44.3
39.8
40.1
40.0

40.8
40.5
40.0
40.1

41.7
40.5
40.5
39.8

41.4
40.3
40.4
39.8

41.1
40.2
40.6
39.8

41.1
40.5
40.7
39.5

45.3
40.6
40.4
40.3

44.6
40.0
40.4
40.2

42.3
40.3
40.2
40.0

41.2
40.3
40.6
39.7

43.4
40.3
40.4
40.0

1949...
1950...
1951...
1952...

39.3
39.7
40.9
40.6

39.4
39.7
40.8
40.7

39.0
39.7
41.0
40.6

38.6
40.1
41.2
40.1

38.8
40.2
40.9
40.4

38.9
40.5
40.7
40.5

39.1
40.9
40.6
40.2

39.1
41.1
40.3
40.5

39.5
40.7
40.4
41.1

39.5
40.9
40.1
41.1

39.1
41.1
40.4
41.0

39.3
40.9
40.6
41.1

39.2
39.7
40.9
40.6

38.8
40.3
40.9
40.3

39.2
40.9
40.4
40.6

39.3
41.0
40.4
41.1

39.1
40.5
40.7
40.7

1953...
1954...
1955...
1956...

41.0
39.5
40.3
4O.8

40.9
39.7

41.1
39.4

41.0
39.4

40.9
39.5

40.6

40.4

40.6

40.2

40.7
39.5
40.6
40.1

40.6
39.6
40.6
40.3

40.5
39.7
40.5
40.0

39.7
39.5
40.7
40.5

40.1
39.6
40.9
40.5

39.7
40.1
41.0
40.3

39.6
40.0
40.9
40.6

41.0
39.5
40.5
40.6

40.9
39.5
40.7
40.3

40.3
39.6
40.6
40.3

39.8
39.9
40.9
40.5

40.5
39.6
40.7
40.4

1957...
1958...
1959...
1960...

40.4
38.8
40.1
40.5

40.4
38.7
40.2
40.1

40.3
38.7
40.4
39.9

40.2
38.6
40.6
39.7

39.8
38.7
40.5
40.0

39.9
39.1
40.5
39.9

39.9
39.2
40.2

39.8
39.4
40.3

39.7
39.6
40.1

39.3
39.5
40.1

39.1
39.8
39.9

39.0
39.8
40.1

40.4
38.7
40.2

40.0
38.8
40.5

39.8
39.4
40.2

39.1
39.7
40,0
39.1

39.8
39.2
40.2
39.7

1961...
1962...
1963...
1964...

39.2
39.9
40.3
40.0

39.3
40.3
40.3
40.6

39.3
40.5
40.4
40.6

39.6
40.7
40.2
40.8

39.7
40.5
40.5
40.7

39.8
40.4
40.5
40.8

40.0
40.5
40.5
40.8

40.1
40.3
40.4
40.8

39.6
40.6
40.6
40.5

40.3
40.2
40.7
40.7

40.6
40.4
40.5
40.8

40.3
40.2
40.6
41.2

39.3
40.2
40.3
40.4

39.7
40.5
40.4
40.8

39.9
40.5
40.5
40.7

40.4
40.3
40.6
40.9

39.8
40.4
40.5
40.7

1965...
1966...
1967...
1968...

41.1
41.4
41.0
40.2

41.2
41.6
40.3
40.7

41.4
41.6
40.5
40.7

41.0
41.5
40.5
40.1

41.2
41.5
40.4
40.9

41.1
41.4
40.4
40.9

41.1
41.3
40.5
40.9

41.1
41.4
40.7
40.7

40.9
41.3
40.8
40.9

41.2
41.2
40.6
40.9

41.3
41.2
40.7
40.8

41.4
41.0
40.8
40.8

41.2
41.5
40.6
40.5

41.1
41.5
40.4
40.6

41.0
41.3
40.7
40.8

41.3
41.1
40.7
40,8

41.2
41.4
40.6
40.7

8.1
7.6
5.2

9.4
7.4
6.0
5.0

10.3
6.8
5.8
4.9

10.4
6.6
5.6
4.4

7.0
9.4
6.9
5.8

6.5
8.2
6.4
5.6

7.3
8.1
6.0
5.3

10.0
6.9
5.8
4.8

7.7
8.2
6.3
5.4

4.3
6.0
4.5
5.9

4.1
5.8
5.0
5.8

4.3
5.3
5.3
5.4

5.2
5.0
5.0
5.8

3.9
4.5
6.2
5.2

4.4
5.1
5.6
5.0

4.3
6.1
4.6
5.7

4.5
5.4
5.1
5.7

4.3
5.3
5.4
5.4

4.1

3.7

3.7

3.7

5.6

5.3

4.5

3.7

4.8

4.4
4.1

4.5
4.4

4.4
4.2

1969...
1970...
2

ACCESSION RATEi MANUFACTURING 2
(PER 100 EMPLOYEES)

AVERAGE FOR PERIOD

1945...
1946...

7.9
9.6

6.8
9.1
6.8

6.4
9.5

6.3
9.1

6.6
8.1

6.6
7.3

6.8
8.7

6.9
8.1

1949...
1950...
1951...
1952...

3.9
4.5
6.4
5.3

3.9
4.3
6.2
5.3

4.0
4.8
6.0
5.0

4.0
4.8
6.0
5.0

4.4
5.5
5.5
4.9

4.7
5.0
5.2
5.1

4.2
5.7
5.0
5.3

4.5
6.5
4.4
5.9

3.3

3.5

1953...
1954. • •
1956...
1958...

4.2
3.1

4.2
3.1

4.0
3.2

4.3
3.3

4.2
3.5

4.0
3.7

4.0
3.9

4.0
3.9

4.2
4.0

4.3

4.0

4.1

4.5
4.2

3.9
3.8
3.5

3.9
4.2
3.6

3.1
4.2
5.6
3.6

3.9
3.1
4.3
4.0

3.6
3.5
4.2
3.7

3.5
3.9
4.1
3.8

3.2
4.0
4.5

3.5
3.6
4.3

4.8

1960...

4.2

4.1

3.7

3.6

3.8

3.7

3.6

3.9

3.8

1961...
1962...
1963...
1964...

3.9
4.3
3.8
3.8

3.7
4.2
3.9
4.0

4.4

4.2

4.2

4.0

4.0

4.1

3.8

3.8
4.0

4.1
4.0

3.8
3.9

3.8
4.0

3.9
4.0

3.8
4.0

3.9
3.9

4.3
3.9
3.9
3.9

4.3
3.8
3.6
4.0

4.1
3.8
4.0
4.1

4.0
4.2
3.8
3.9

4.1
4.1
3.9
4.0

4.0
4.1
3.9
4.0

4.2
3.8
3.8
4.0

4.1
4.1
3.9
4.0

1965...
1966...
1967...
1968...

4.0
4.9
4.6

4.1
5.0

4.3
5.3

5.0

5.1

5.1

4.7

5.1

5.0

4.9

4.8

4.6

4.1
5.1

4.2
5.1

4.3
4.9

4.7
4.8
4.5

4.8

4.9

4.3
5.0
4.4
4.6

1969...
1970...
3. LAYOFF RATEt MANUFACTURING 3
(PER 100 EMPLOYEES)

AVERAGE FOR PERIOD

1945...
1946...
1947...
1948...

0.7
2.1
1.0
1.4

0.9
1.9
0.9
1.9

0.9
2.1
1.1
1.4

1.0
1.7
1.1
1.4

1.4
1.7
1.5
1.1

2.0
1.4
1.3
1.3

2.1
0.9
1.6
1.6

12.1
0.9
1.1
1.8

4.0
1.0
1.0
1.4

2.7
1.2
1.1
1.5

2.3
1.0
1.0
1.7

1.5
1.2
1.0
2.3

0.8
2.0
1.0
1.6

1.5
1.6
1.3
1.3

6.1
0.9
1.2
1.6

2.2
1.1
1.0
1.8

2.6
1.4
1.1
1.6

1949...
1950...
1951...
1952...

2.8
1.9
1.0
1.5

2.5
1.9
1.0
1.5

3.3
1.7
1.0
1.4

3.2
1.4
1.1
1.5

3.5
1.2
1.3
1.3

3.1
1.1
1.3
1.5

3.0
0.8
1.8
3.1

2.6
0.8
1.9
1.3

2.6
1.0
1.8
1.0

2.8
1.1
1.7
0.9

2.8
1.2
1.8
0.8

2.1
1.2
1.5
1.0

2.9
1.8
1.0
1.5

3.3
1.2
1.2
1.4

2.7
0.9
1.8
1.8

2.6
1.2
1.7
0.9

2.9
1.3
1.4
1.4

1953...
1954...
1955...
1956...

0.9
2.9
1.5
1.6

1.0
2.7
1.4
2.3

1.0
2.8
1.5
1.8

1.0
2.8
1.4
1.6

1.2
2.3
1.4
2.1

1.2
2.4
1.7
1.9

1.5
2.2
1.8
1.7

1.6
2.1
1.6
1.5

2.0
2.1
1*4
1.8

2.2
1.9
1.5
1.6

2.4
1.7
1.3
1.7

2.5
1.8
1*4
1.5

1.0
2.8
1.5
1.9

1.1
2.5
1.5
1.9

1.7
2.1
1.6
1.7

2.4
1.8
1.4
1.6

1.5
2.3
1.5
1.8

1957...
1958...
1959...
1960...

1.5
3.4
1.8
1.5

1.7
3.3
1.7
1.9

1.5
3.4
1.7
2.3

1.7
3.3
1.7
2.4

2.1
3.0
1.6
2.3

1.7
2.4
1.7
2.5

1.8
2.5
1.9
2.4

2.1
2.3
2.0
2.6

2.4
2.1
2.0
2.5

2.7
2.1
2.9
2.6

2.9
1.9
2.5
2.7

2.7
1.9
1.9
2.8

1.6
3.4
1.7
1.9

1.8
2.9
1.7
2.4

2.1
2.3
2.0
2.5

2.8
2.0
2.4
2.7

2.1
2.6
2.0
2.4

1961...
1962...
1963...
1964...

2.7
1.8
1.9
1,8

3.0
1.9
1.8
1.8

2.5
1.7
1.9
1.8

2.1
1.8
1.8
1.6

2.2
2.0
1.8
1.7

2.3
2.0
1.7
1.6

2.2
2.0
1.7
1.7

2.0
2.4
2.0
1.5

2.2
2.0
1.9
1.6

1.9
2.0
1.8
1.7

1.9
2.0
1.8
1.5

2.0
1.9
1.7
1.6

2.7
1.8
1.9
1.8

2.2
1.9
1.8
1.6

2.1
2.1
1.9
1.6

1.9
2.0
1.8
1.6

2.2
2.0
1.8
1.7

1965...
1966...
1967...
1968...

1.4
1.2
1.3
1.3

1.4
1.1
1.4
1.3

1.4
1.1
1.7
1.2

1.5
1.2
1.5
1.2

1.4
1.1
1.4
1.2

1.4
1.3
1.4
1.1

1.4
1.5
1.4
1.3

1.7
1.2
1.3
1.4

1.4
1.1
1.3
1.2

1.3
1.1
1.3
1.2

1.4
1.2
1.2
1.1

1.4
1.3
1.2
1.1

1.4
1.1
1.5
1.3

1.4
1.2
1.4
1.2

1.5
1.3
1.3
1.3

1.4
1.2
1.2
1.1

1.4
1.2
1.4
1.2

1969...
1970...
•"•Since last shown here, this i eries has been revised beginning with 1961.
last shown here, this ! eries has been revised beginning with 1966.
Since last shown here, this : eries has been revised beginning with 1959.

2
Since
3




(AUGUST 1970)

101

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol @ (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Monthly

Quarterly

Year
Jan.

Feb.

Mar.

Apr.

May

June

July

Sept.

Aug.

Oct.

Nov.

Dec.

IQ

ii a

1
21. AVERAGE WEEKLY OVERTIME HOURS OF PRODUCTION WORKERS? MANUFACTURING
(HOURS)

IIIQ

IV Q

Annual

AVERAGE FOR PERIOD

1956...

3.2

3.0

2.8

2.8

2.7

2.7

2.7

2.5

2.7

2.8

2.8

2.8

3.0

2.7

2.6

2.8

2.8

1957...
1958...
1959...
1960...

2.9
1.9
2.5
3.0

2.7
1.9
2.6
2.8

2.6
1.7
2.8
2.7

2.5
1.7
2.8
2.4

2.3
1.8
2.9
2.6

2.3
1.9
2.9
2.5

2.3
1.9
2.8
2.4

2.2
2.1
2.9
2.4

2.2
2.2
2.7
2.3

2.1
2.2
2.6
2.4

2.1
2.4
2.5
2.1

1.9
2.5
2.5
2.0

2.7
1.8
2.6
2.8

2.4
1.8
2.9
2.5

2.2
2.1
2.8
2.4

2.0
2.4
2.5
2.2

2.3
2.0
2.7
2.5

1961...
1962...
1963...
1964...

2.1
2.8
2.7
2.9

2.1
2.7
2.7
2.9

2.1
2.8
2.8
3.0

2.2
2.8
2.5
3.0

2.2
2.8
2.8
3.0

2.3
2.8
2.9
3.1

2.5
2.8
2.9
3.0

2.5
2.7
2.8
3.2

2.6
2.8
2.9
3.2

2.7
2.7
2.9
3.2

2.8
2.8
2.9
3.2

2.8
2.8
3.0
3.4

2.1
2.8
2.7
2.9

2.2
2.8
2.7
3.0

2.5
2.8
2.9
3.1

2.8
2.8
2.9
3.3

2.4
2.8
2.8
3.1

1965...
1966...
1967...
1968...

3.5
3.9

3.6
4.1

3.7
4.1

3.2
4.1

4.1

3.9

4.0

3.9

3.8

3.9

3.8

3.8
3.5

3.6
4.0

3.4

3.5

3.5

3.1

3.6

3.7

3.6

3.6

3.7

3.7

3.8

3.7

3.5

3.4
4.0
3.2
3.5

3.5
3.9
3.3
3.6

3.8
3.7
3.3
3.7

3.6
3.9
3.3
3.6

1969...
1970...
41. NUMBER OF EMPLOYEES ON NONAGRI CULTURAL PAYROLLS? ESTABLISHMENT SURVEY2
(THOUSANDS)

AVERAGE FOR PERIOD

1945...
1946...
1947...
1948...

41
39
43
44

780
729
493
658

41
39
43
44

784
215
588
541

41
40
43
44

656
214
639
662

41
40
43
44

341
811
478
342

41
41
43
44

125
260
561
659

40
1
3
4

912
568
688
925

40
41
43
45

623
968
667
124

40
42
43
45

320
490
851
040

38
42
44
45

387
798
062
143

38
43
44
45

470
008
272
087

38
43
44
45

821
263
345
094

39
43
44
45

022
333
557
051

41
39
43
44

740
719
573
620

41
41
43
44

126
213
576
642

39
42
43
45

777
419
860
102

38
43
44
45

771
201
391
077

40
41
43
44

353
638
850
860

1949...
1950...
1951...
1952...

44
43
47
48

622
467
267
268

44
43
47
48

445
192
518
456

44
43
47
48

214
871
725
473

44
44
47
48

058
276
890
494

43
44
47
48

848
607
829
538

3
4
47
48

626
995
951
142

43
45
47
47

457
387
951
986

43
46
47
48

506
064
815
705

43
46
47
49

671
298
770
146

42
46
47
49

811
522
815
451

43
46
48
49

163
652
049
719

43
46
48
49

525
784
188
993

44
43
47
48

427
510
503
399

43
44
47
48

844
626
890
391

43
45
47
48

545
916
845
612

43
46
48
49

166
653
017
721

43
45
47
48

746
176
814
781

1953...
1954...
1955...
1956...

50
49
49
51

084
361
360
910

50
49
49
52

320
284
538
127

50
49
49
52

398
099
866
180

50
49
50
52

418
010
127
325

50
48
50
52

394
863
447
418

50
48
50
52

416
820
745
498

50
48
50
51

413
730
870
827

50
48
50
52

304
707
967
476

50
48
51
52

173
802
144
510

50
48
51
52

115
838
336
691

49
49
51
52

845
109
511
760

49
49
51
52

673
250
739
901

50 267

50 409

50 297

49 588
52 072

50 440
52 414

50 994
52 271

49
49
51
52

878
066
529
784

50
48
50
52

213
989
638
385

1957... 52 860
1958... 52 054
1959... 52 456
1960... 54 221

53
51
52
54

044
486
602
452

53
51
52
54

124
158
884
380

53
50
53
54

080
880
221
636

53
50
53
54

054
820
477
407

53
50
53
54

003
851
645
324

53
50
53
54

003
944
713
258

52
51
53
54

976
159
287
228

52
51
53
54

869
413
316
116

52
51
53
54

718
418
230
021

52
51
53
53

495
858
541
891

52
52
54
53

307
008
069
611

53
51
52
54

009
566
647
351

53
50
53
54

046
850
448
456

52
51
53
54

949
172
439
201

52
51
53
53

507
761
613
841

52
51
53
54

878
337
287
212

1961...
1962...
1963...
1964...

564
745
958
322

53
55
56
57

414
042
092
671

53
55
56
57

523
182
210
732

53
55
56
57

538
457
449
898

53
55
56
58

720
561
577
041

53
55
56
58

954
598
606
166

54
55
56
58

089
704
742
378

54
55
56
58

285
830
877
542

54
55
57
58

317
914
028
821

54
55
57
58

420
957
202
719

54
55
57
59

668
983
172
131

54
55
57
59

789
961
294
354

53
54
56
57

500
990
087
575

53
55
56
58

737
539
544
035

54
55
56
58

230
816
882
580

54
55
57
59

626
967
223
068

54
55
56
58

023
578
684
315

1965... 59 466
1966... 62 454
1967... 65 347
1968... 66 754

59
62
65
67

727
754
378
166

59
63
65
67

965
138
455
306

60
63
65
67

146
406
475
500

63 646
65 547
67 567

64 246
65 820
67 962

61
64
65
68

121
402
965
152

61
64
66
68

388
492
034
288

61
64
66
68

610
702
098
547

61
64
66
68

910
909
613
805

62
65
66
69

245
109
772
039

59
62
65
67

719
782
393
075

60
63
65
67

409
696
574
625

61
64
65
68

140
380
940
134

61
64
66
68

922
907
494
797

60
63
65
67

797
941
850
908

53
54
55
57

64 035
65 699
67 809

1969...
1970...
48. MAN-HOURS IN NONAGRI CULTURAL ESTABLISHMENTS3
(ANNUAL RATEf BILLIONS OF MAN-HOURS)

AVERAGE FOR PERIOD
...

...

...

...

1947...
1948...

92.18
93.78

92.05
93.30

91.99
93.76

91.24
92.67

91.79
93.52

92.07
94.19

91.56
94.44

91.82
94.35

92.62
94.31

93.04
93.93

93.24
94.00

93.82
93.71

92.07
93.61

91.70
93.46

92.00
94.37

93.37
93.88

92.28
93.83

1949...
1950...
1951...
1952...

92.64
89.56
99.12
100.93

92.40
89.13
99.31
101.31

91.60
90.88
99.71
100.91

91.10
91.42
100.26
100.45

90.75
92.73
100.10
100.99

90.07
93.86
100.13
100.10

89.70
94.82
100.18
99.61

89.79
96.76
99.82
101*12

89.89
96.65
99.52
102.94

88.23
97.20
99.35
103.16

88.86
97.87
99.98
103.40

89.31
97.67
100.40
104.43

92.21
89.86
99.38
101.05

90.64
92.67
100.16
100.51

89.79
96.08
99.84
101.22

88.80
97.58
99.91
103.66

90.36
94.05
99.82
101.61

1953...
1954...
1955...
1956...

104.27
100.84
101.70
107.23

104.68
101.29
102.27
107.51

105.05
100.85
103.44
107.02

104.93
100.52
103.57
107.84

104,53
99.92
104.77
107.52

104.54
99.93
104.91
107.82

104.40
99.76
105.20
106.58

103.80
99.67
105.43
107.85

102.81
99.64
106.09
107.90

103.63
100.15
106.30
108.48

102.55
101.30
106.81
108.69

102.05
101.56
107.27
109.01

104.67
100.99
102.47
107.25

104.67
100.12
104.42
107.73

103.67
99.69
105.57
107.44

102.74
101.00
106.79
108.73

103.94
100.45
104.81
107.79

1957...
1958...
1959...
1960...

108.11
105.30
106.68
110.36

108.88
103.54
106.86
110.52

108.70
103.13
107.76
110.17

108.11
102.40
108.75
110.70

108.14
102.46
109.31
110.41

107.94
102.58
109.56
110.27

108.04
102.83
109.28
110.25

108.12
103.43
108.34
110.15

107.48
104.46
108.06
109.57

106.46
104.46
107.94
109.40

106.08
105.52
108.40
108.79

105.88
105.80
110.06
107.21

108.56
103.99
107.10
110.35

108.06
102.48
109.21
110.46

107.88
103.57
108.56
109.99

106.14
105.26
108.80
108.47

107.66
103.83
108.42
109.82

1961...
1962...
1963...
1964...

108.13
110.04
113.55
115.02

108.25
111.55
113.73
116.70

108.17
112.25
113.93
117.14

108.04
112.76
114.63
117.30

108.72
112.89
114.84
117.54

109.23
113.03
115.17
117.81

109.69
113.05
115.28
118.13

109.98
113.18
115.35
118.43

109.54
113.68
115.78
118.45

110.35
113.06
116.16
118.76

111.21
113.50
116.09
119.97

111.06
113.38
116.26
121.01

108.18
111.28
113.74
116.29

108.66
112.89
114.88
117.55

109.74
113.30
115.47
118.34

110.87
113.31
116.17
119.91

109.36
112.70
115.06
118.02

1965...
1966...
1967...
1968...

120.92
126.55
131.38
131.69

121.75
127.62
130.64
133.45

122.14
128.28
130.73
133.60

122.11
128.22
130.36
133.69

122.91
128.57
130.74
134.31

122.84
129.54
131.10
134.89

123.22
129.50
131.16
135.41

123.91
129.98
131.77
135.67

123.97
129.94
131.98
135.67

124.63
130.30
131.75
136.07

125.47
130.71
133.02
136.15

126.26
130.78
132.79
136.60

121.60
127.48
130.92
132.91

122.62
128.78
130.73
134.30

123.70
129.81
131.64
135.58

125.45
130.60
132.52
136.27

123.34
129.17
131.45
134.77

1969...
1970...
^•This series is introduced in this issue. See "New Features and Changes for This
last shown here, this series has been revised beginning with 1954.
Since last shown here, this series has been revised beginning with 1968.

2
Since
3

102




.e," page iii.
(AUGUST 1970)

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol © (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Monthly

Quarterly

Year
Jan.

Feb.

Mar.

810.

Apr.

May

June

July

Aug.

Sept.

Annual
Oct.

Nov.

Dec.

IQ

II Q

IIIQ

IV Q

COMPOSITE INDEX OF 12 LEADING INDICATORS. REVERSE TREND ADJUSTED
33.5

33.2

34.1

AVERAGE FOR PERIOD
34.4
34.5
33.6

34.1

31.8
41.5
40.6
42.7

32.4
41.8
40.8
42.9

32.8
42.6
41.0
43.2

31.6
34.0
43.8
41.1

30.1
36.5
42.0
40.9

31.2
40.8
40.0
41.8

32.3
42.0
40.8
42.9

31.3
38.3
41.6
41.7

41.1
44.4
53.2
53.5

40.9
45.1
52.8
53.8

40.1
45.7
53.1
54.5

40.3
46.8
53.5
54.4

43.7
40.6
49.4
53.3

43.1
42.1
50.7
53.5

42.0
43.7
52.4
53.3

40.4
45.9
53.1
54.2

42.3
43.1
51.4
53.6

54.3
54.7
62.0
62.0

53.2
55.7
62.3
62.1

52.0
57.0
62.0
61.4

51.6
58.3
61.2
61.1

50.8
58.4
63.4
60.8

54.2
49.7
60.8
63.4

54.0
50.9
63.2
62.9

53.9
54.7
62.4
62.2

51.5
57.9
62.2
61.1

53.4
53.3
62.1
62.4

65.9
70.2
76.6
84.4

67.2
70.6
77.0
84.9

67.0
71.1
77.7
86.0

68.2
71.2
78.8
86.3

69.2
72.2
78.8
86.9

69.6
72.6
79.4
88.6

61.9
70.3
73.6
81.3

64.8
70.4
75.7
83.5

66.7
70.6
77.1
85.1

69.0
72.0
79.0
87.3

65.6
70.8
76.4
84.3

93.6
99.6
99.7
109.5

93.6
98.2
101.6
109.7

94.1
97.6
101.7
110.9

95.4
97.2
102.5
113.7

96.4
96.9
103.8
113.7

98.0
96.9
105.8
114.8

90.5
99.9
96.8
105.7

92.6
99.9
98.2
107.5

96.6
97.0
104.0
114.1

93.4
98.8
100.0
109.3

(1967=100)

1948...

34.5

33.9

33.8

1949...
1950...
1951...
1952...

32.3
33.5
44.3
41.1

31.6
33.9
43.6
41.2

31.0
34.6
43.4
41.1

30.2
35.5
42.3
40.8

30.0
36.6
42.4
40.7

30.1
37.5
41.2
41.3

30.3
39.2
40.1
40.8

31.1
41.6
39.8
41.6

32.1
41.5
40.2
43.0

1953...
1954...
1955...
1956...

43.8
40.4
48.3
53.3

43.6
40.8
49.6
53.1

43.6
40.6
50.2
53.4

43.5
41.6
50.3
54.0

43.2
42.0
50.6
53.4

42.5
42.6
51.2
53.0

42.9
43.2
51.9
52.6

42.1
43.5
52.2
53.7

1957...
1958...
1959...
1960...

54.1
50.3
59.6
63.9

54.2
49.3
60.6
63.7

54.3
49.6
62.1
62.7

53.7
49.6
63.0
62.9

54.0
50.9
63.2
62.9

54.2
52.3
63.3
62.8

54.1
53.7
62.9
62.6

1961...
1962...
1963...
1964...

61.1
69.6
73.0
80.7

61.7
70.5
73.6
81.5

62.8
70.7
74.3
81.8

63.9
71.0
74.7
82.9

64.9
70.5
76.1
83.8

65.5
69.7
76.3
83.9

1965...
1966...
1967...
1968...

89.8
98.7
97.5
104.2

90.2
100.0
96.4
106.3

91.6
101.0
96.6
106.5

92.1
100.4
97.0
106.7

92.8
99.7
98.1
107.5

93.0
99.6
99.4
108.3

811.

93.8
98.5
101.0
110.0

COMPOSITE INDEX OF 12 LEADING INDICATORS? ORIGINAL TREND
AVERAGE FOR PERIOD

(1967*100)

1948...

82.4

80.5

80.0

81.2

80.6

81.7

81.0

80.1

78.5

78.4

76.9

76.0

81.0

81.2

79.9

77.1

79.8

1949...
1950...
1951...
1952...

73.6
73.0
92.4
81.9

71.9
73.7
90.5
81.9

70.2
74.9
-89.7
81.5

68.1
76.5
87.3
80.5

67.5
78.7
87.1
79.9

67.4
80.3
84.3
80.9

67.6
83.7
81.9
79.6

69.2
88.3
80.8
80.8

71.0
87.9
81.4
83.3

70.1
87.5
81.8
82.3

71.3
87.8
82.0
82.4

71.7
89.2
82.0
82.6

71.9
73.9
90.9
81.8

67.7
78.5
86.2
80.4

69.3
86.6
81.4
81.2

71.0
88.2
81.9
82.4

70.0
81.8
85.1
81.5

1953...
1954...

83.6
73.6

82.9
74.1

82.6
73.5

82.0
75.0

81.1
75.4

79.6
76.2

80.1
77.2

78.3
77.3

76.1
78.7

75.4
79.6

73.6
80.3

83.0
73.7

78.2
77.7
89.0
86.6

74.3
80.6

1956...

88.9

88.2

88.4

89.0

87.7

86.8

85.8

87.3

86.6

86.8

87.5

73.8
81.9
89 .6
87.1

88.5

80.9
75.5
87 . 1
87.8

87.1

79.1
76.9
87 .8
87.5

1957...
1958...
1959...
I960...

86.3
76.8
87.1
89.2

86.1
74.9
88.1
88.5

85.9
75.1
89.9
86.8

84.7
74.9
90.9
86.9

84.9
76.6
90.9
86.5

85.0
78.2
90.7
86.1

84.3
80.1
89.7
85.3

84.5
81.4
88.2
84.3

82.4
82.5
88.2
84.2

80.2
84.1
87.5
82.9

79.4
85.7
86.1
82.2

77.8
85.6
88.8
81.4

86.1
75.6
88.4
88.2

84.9
76.6
90.8
86.5

83.7
81.3
88.7
84.6

79.1
85.1
87.5
82.2

83.5
79.7
88.8
85.4

1961...
1962...
1963...
1964...

81.5
88.8
89.0
94.1

82.0
89.7
89.4
94.7

83.2
89.5
90.0
94.8

84.3
89.6
90.2
95.7

85.2
88.6
91.5
96.4

85.8
87.4
91.4
96.2

86.0
87.6
91.5
96.4

87.4
87.8
91.5
96.5

86.8
88.0
92.1
97.4

88.0
87.9
93.0
97.4

88.9
88.8
92.7
97.7

89.1
88.9
93.0
99.3

82.2
89.3
89.5
94.5

85.1
88.5
91.0
96.1

86.7
87.8
91.7
96.8

88.7
88.5
92.9
98.1

85.7
88.6
91.3
96.4

1965...
1966...
1967...
1968...

100.2
105.3
99.5
101.7

100.3
106.3
98.1
103.4

101.5
107.0
97.9
103.3

101.7
106.1
97.9
103.0

102.1
104.8
98.7
103.4

102.0
104.3
99.6
103.9

102.2
103.9
99.6
104.5

101.9
102.2
101.1
104.3

102.0
101.1
100.8
105.2

102.9
100.3
101.1
107.4

103.8
99.7
102.1
107.0

100,7
106.2
98.5
102.8

101.9
105.1
98.7
103.4

102.0
102.4
100.5
104.7

103.9
99.7
102.3
107.3

102.1
103.4
100.0
104.6

NOTE:

105.0
99.2
103.7
107.6

Since last shown here, these series have been revised beginning with 1948. See "New Features and Changes for This Issue," page iii.




(AUGUST 1970)

103

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol © (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Monthly

Quarterly

Year
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

813. COMPOSITE INDEX OF MARGINAL EMPLOYMENT ADJUSTMENTS
(1967=100)

II Q

Annual
IIIQ

IV Q

AVERAGE FOR PERIOD

...
1948...

103.6

101.5

101.7

101.3

1949...
1950...
1951...
1952...

92.9
95.7
106.4
101.1

93.0
95.5
105.7
101.9

91.1
97.0
106.5
101.4

89.7
98.7
105.0
100.0

1953...
1954...
1955...
1956...

105.8
91.7
97.7
99.6

105.4
91.7
99.0
97.6

105.1
91.7
99.8
98.0

1957...
1958...
1959...
1960...

98.1
88.5
95.6
97.6

97.9
96.7
96.1

1961...
1962...
1963...
1964...

90.6
95.6
95.0
95.3

89.6
96.0

1965...
1966...
1967...
1968...

99.5
102.6
102.1
100.3

101.6

100.5

98.4

100.7

95.6
102.9
101.0
105.3

92.3
96.1
106.2
101.5

90.6
100.1
103.4
100.4

92.3
105.9
98.5
101.5

93.1
103.7
100.2
106.0

92.1
101.4
102.1
102.3

93.4
97.0
100.5
98.7

105.4
91.7
98.8
98.4

103.7
91.8
99.9
97.8

98.8
93.0
99.6
97.8

94.0
96.1
100.8
99.1

100.5
93.1
99.8
98.3

90.1

89.6

98.0

93.2
90.4

98.2
88.9

96.8
95.8

96*0
88.8
98.1
93.3

94.3
92.4
95.9
92.1

90.4
94.2
94.8
90.1

94.7
90.8
96.4
92.8

95.9
95.0
96.7
97.7

96.4
95.2
95.9
98.2

95.6
94.9
96.4
99.0

90.8
96.1
95.4
96.4

93.1
96.2
96.1
97.7

93.8
95.4
96.1
98.0

96.0
95.0
96.3
98.3

93.4
95.7
96.0
97.6

101.6
103.3
100.5
102.9

102.0
102.6
101.3
103.0

102.2

101.3

100.2

100.1

100.1

90.3
100.8
103.2
101.1

91.7
100.8
102.1
100.1

91.7
104.6
99.6
95.4

91.8
107.9
97.5
102.7

93.3
105.3
98.3
106.3

91.6
104.5
99.0
106.3

92.0
103.6
100.5
106.3

105.4
90.9
99.9
99,2

102.8
92.1
100.9
97.1

102.9
92.3
99.0
97.2

100.9
93.2
98.6
97.4

99.2
92.9
99.2
98.0

96.2
92.8
100.9
98.1

95.4
94.2
100.4
100.2

93.3
97.2
101.5
98.5

98.1

96.7

95.1

96.2

95.8

94.8

92.4

91.5

98.1
93.6

98.4
93.2

98.1
93.8

97.7
92.9

96.4
92.7

95.7
91.9

95.7
91.8

93.1
91.1

92.1
96.8

92.8
97.1

93.2
96.0

97.0

96.8

97.8

97.4

93.3
95.4
96.3
98.0

93.5
95.9
96.6
97.7

94.9
94.6
95.4
98.6

93.0
95.8
96.2
97.8

99.6
103.5
99.0
101.6

100.6
105.4
97.7
101.5

100.3
104.5
99.6
102.5

100.5
103.6
99.3
102.4

100.0
102.0
99.6
102.4

99.0
103.8
100.7
101.4

100.7
103.8
100.6
102.4

99.3
104.5
98.1
101.2

:::

102.3

99.1

101.3

,
'

...

96.0

102.6
101.3
101.5
103.2

99.9
103.8
99.6
101.1

100.0
104.2
99.0
102.0

99.9
103.2
100.3
102.1

102.1
102.4
101.1
103.0

100.5
103.4
100.0
102.1

1969...
1970...
814. COMPOSITE INDEX OF CAPITAL INVESTMENT COMMITMENTS
(1967=100)

1948...

88.8

88.0

87.4

89,0

87.3

AVERAGE FOR PERIOD

88.1

86.4

85.4

83.4

83.6

81.4

81.2

88.1

88.1

85.1

82.1

85.8

74.5

73.8

75.8

78.0

77.5

79.6
89.4
86.2
89.5

76.8
81.8
90.8
87.2

74.5
85.5
88.0
87.9

75.9
90.0
85.8
89.3

78.8
88.0
86.2
89.0

76.5
86.3
87.7
88.4

1950...
1951...
1952...

80.7
92.4
86.1

81.7
90.2
87.2

83.0
89.9
88.4

84.2
87.8
88.0

86.0
89.4
86.5

86.8
89.2

86.2
88.3

85.2
88.4

86.0
91.2

86.2
88.9

79.4
86.9
86.2
88.5

1953...
1954...
1955...
1956...

90.5
82.1
90.3
91.7

90.7
82.1
92.4
90.7

89.4
80.9
92.9
91.0

89.8
82.2
91.9
91.2

88.6
82.1
91.9
90.7

86.3
83.2
92.3
90.2

86.8
84.0
92.4
89.5

84.5
84.4
92.2
90.9

82.9
86.1
92.9
88.5

83.7
87.8
92.1
88.8

82.3
87.0
91.9
89.6

82.3
88.2
92.1
89.4

90.2
81.7
91.9
91.1

88.2
82.5
92.0
90.7

84.7
84.8
92.5
89.6

82.8
87.7
92.0
89.3

86.5
84.2
92.1
90.2

1957...
1958...
1959...
1960...

88.2
.82.9
90.9
90.9

88.6
81.4
92.3
90.3

88.5
82.6
94.0
88.7

86.8
82.2
93.3
89.4

87.4
84.0
92.5
89.2

87.3
85.4
92.4
88.6

86.0
86.5
91.9
88.6

86.6
87.8
90.3
87,9

85.6
88.6
91.1
87.9

84.9
89.3
90.6
87.0

84.9
90.8
89.9
86.1

83.4
89.4
91.5
86.2

88.4
82.3
92.4
90.0

87.2
83.9
92.7
89.1

86.1
87.6
91.1
88.1

84.4
89.8
90.7
86.4

86.5
85.9
91.7
88.4

1961...
1962...
1963...
1964...

85.3
89.9
91.7
95.4

85.8
90.9
92.4
95.2

86.2
90.1
92.8
95.3

86.9
90.6
92.4
95.7

87.1
90.0
93.7
96.5

88.1
89.8
92.8
96.4

87.8
90.1
93.1
96.0

88.6
90.3
93.3
95.7

87.9
90.6
94.1
96.9

88.9
90.9
94.5
96.9

89.8
91.3
94.3
96.8

89.4
91.8
94.7
97.3

85.8
90.3
92.3
95.3

87.4
90.1
93.0
96.2

88.1
90.3
93.5
96.2

89.4
91.3
94.5
97.0

87.6
90.5
93.3
96.2

1965...
1966...
1967...
1968...

98.1
101.3
96.2
103.0

97.6
101.6
96.5
105.1

98.1
102.2
96.5
105.5

97.6
101.2
97.5
103.9

97.7
99.9
98.6
103.7

98.1
98.9
100.7
104.7

98.5
98.2
100.2
106.1

98.2
97.0
102.0
107.2

98.9
96.2
102.5
110.8

99.4
94.4
102.7
109.7

100.4
95.1
105.0
111.0

97.9
101.7
96.4
104.5

97.8
100.0
98.9
104*1

98.3
97.4
101.3
107.2

99.6
95.2
103.4
110.5

98.4
98.6
100.0
106.6

98.2
96.9
101.6
108.4

1969...
1970...
815.

COMPOSITE INDEX OF INVENTORY INVESTMENTS AND PURCHASING
(1967=100)

AVERAGE FOR PERIOD

1948...

108.5

106.2

105.0

105.5

105.1

107.7

107.2

106.1

105.0

103.9

104.5

102.6

106.6

106.1

106.1

103.7

105.6

1949...
1950...
1951...
1952...

103.2
98.1
125.0
108.0

100.4
98.0
121.8
104.9

97.3
98.5
121.5
104.7

92.7
98.9
121.0
103.6

92.1
101.6
119.2
100.5

90.9
102.9
116.5
102.7

91.2
106.3
111.9
101.0

94.2
114.1
109,6
99.8

96.5
114.9
108.3
102.6

95.7
115.4
109.4
100.5

95.4
117.5
108.9
100.4

96.2
118.4
108.4
100.1

100.3
98.2
122.8
105.9

91.9
101.1
118.9
102.3

94.0
111.8
109.9
101.1

95.8
117.1
108.9
100.3

95.5
107.0
115.1
102.4

1953...
1954...
1955...
1956...

103.0
93.2
101.2
105.5

100.2
93.2
101.9
105.0

100.2
93.2
102.5
104.5

98.9
94.8
101.7
106.1

98.3
95.9
101.9
104.3

98.2
95.5
103.3
102.7

97.3
95.8
103.9
103.4

96.7
96.0
104.0
104.4

94.8
98.1
104.4
103.9

93.8
99.2
104.9
103.1

94.2
98.9
105.1
103.8

94.0
99.3
106.5
104.2

101.1
93.2
101.9
105.0

98.5
95.4
102.3
104.4

96.3
96.6
104.1
103.9

94.0
99.1
105.5
103.7

97.5
96.1
103.4
104.2

1957...
1958...
1959...
1960...

103.3
94.2
100.0
101.1

102.2
94.0
101.9
102.3

100.6
94.3
102.2
100.6

99.7
93.1
103.7
99.9

99.6
93.3
102.4
100.2

98.9
94.7
103.2
99.9

99.3
95.9
102.5
99.3

99.4
97.5
100.7
98.6

98.3
98.1
100.6
99.4

95.8
99.6
100.9
97.5

96.0
101.1
100.5
98.2

95.7
100.4
102.2
96.3

102.0
94.2
101.4
101.3

99.4
93.7
103.1
100.0

99.0
97.2
101.3
99.1

95.8
100.4
101.2
97.3

99.1
96.4
101.7
99.4

1961...
1962...
1963...
1964...

97.3
102.6
98.9
99.5

97.4
101.9
99.1
99.9

98.5
100.9
98.9
100.7

100.2
99.5
98.5
102.0

100.9
99.8
99.9
101.2

99.3
98.5
98.8
101.8

100.2
97.6
98.8
102.1

101.8
97.6
98.5
102.4

101.8
97.6
98.6
104.6

101.3
98.5
98.7
104.8

100.6
98.7
98.8
106.0

101.6
99.7
98.4
106.0

97.7
101.8
99.0
100.0

100.1
99.3
99.1
101.7

101.3
97.6
98.6
103.0

101.2
99.0
98.6
105.6

100.1
99.4
98.8
102.6

1965...
1966...
1967...
1968...

106.1
107.2
102.1
100.6

104.9
108.3
101.0
100.9

105.9
109.3
99.8
101.3

107.1
108.4
98.6
101.2

106.7
107.8
99.3
100.5

106.0
108.4
99.5
99.5

105.6
108.3
98.9
98.7

106.3
105.8
99.1
100.1

105.6
105.3
98.8
98.6

104.9
104.6
99.5
100.7

105.6
103.7
100.6
100.5

107.0
103.9
102.7
101.4

105.6
108.3
101.0
100.9

106.6
108.2
99.1
100.4

105.8
106.5
98.9
99.1

105.8
104.1
100.9
100.9

106.0
106.8
100.0
100.3

1969...
1970...
NOTE:

Since last shown here, these series have been revised beginning with 1948.

See "New Features and Changes for This Issue," page iii.

(AUGUST I9?o)

104




C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol (§) (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Monthly

Quarterly

Year
Jan.

Feb.

Mar.

Apr.

816.

May
COMPOSITE

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

INDEX OF PROFITABILITY
(1967*100)

II Q

III Q

Annual
IV Q

AVERAGE FOR PERIOD

1948...

60.2

59.5

59.5

61.0

62.3

62.9

62.2

61.6

61.1

61.1

59.5

59.1

59.7

62.1

61.6

59.9

60.8

1949...
1950...
1951...
1952...

58.4
57.5
71.7
63.9

56.9
58.2
70.8
63.3

56.7
59.5
69.2
62.7

55.7
61.1
67.4
62.2

54.4
62.6
66.2
61.3

54.2
64.7
64.7
61.4

54.8
66.1
63.5
62.5

56.0
68.9
62.9
62.7

56.3
70.2
63.6
62.6

56.3
70.4
64.1
62.6

56.7
70.5
63.8
63.7

57.0
70.7
63.7
63.8

57.3
58.4
70.6
63.3

54.8
62.8
66.1
61.6

55.7
68.4
63.3
62.6

56.7
70.5
63.9
63.4

56.1
65.0
66.0
62.7

1953...
1954...
1955...
1956...

64.3
60.1
71.0
76.4

64.0
61.0
72.1
76.1

64.2
61.1
72.3
77.0

63.5
62.2
73.4
77.6

63.9
63.2
73.2
77.5

63.1
63.7
74.6
76.7

64.0
64.6
76.1
75.1

63.7
65.3
76.4
76.2

61.9
66.4
77.8
76.6

60.1
66.3
77.3
76.2

58.6
66.8
77.3
76.6

58.9
68.9
77,1
76.3

64.2
60.7
71.8
76.5

63.5
63.0
73.7
77.3

63.2
65.4
76.8
76.0

59.2
67.3
77.2
76.4

62.5
64.1
74.9
76.5

1957. ..
1958...
1959...
1960...

76.4
67.9
78.7
81.3

75.8
66.3
79.5
80.7

75.7
66.2
80.8
80.0

66.7
82.4
79.5

68.4
83.9
79.1

70.2
83.1
79.4

71.8
82.0
78.2

73.0
80.5
77.9

73.9
79.7
77.2

76.0
78.9
76.3

70.5
77.3
78.4
76.3

69.2
77.9
80.6
76.8

76.0
66.8
79.7
80.7

76.1
68.4
83.1
79.3

75.6
72.9
80.7
77.8

70.6
77.1
79.3
76.5

74.6
71.3
80.7
78.6

1961...
1962...

76.9
84.9

77.6
85.3

78.6
85.4

80.2
84.6

81.1
83.4

81.5
81.3

1964...

91.5

91.8

92.1

92.8

93.0

82.2
82.2
87.5
94.2

83.4
82.7
87.9
93.7

83.9
82.8
88.3
93.2

83.9
82.0
88.6
93.4

85.1
83.1
88.4
94.5

85.6
83.4
89.6
95.6

77.7
85.2
84.1
91.8

80.9
83.1
87.0
93.0

83.2
82.6
87.9
93.7

84.9
82.8
88.9
94.5

81.7
83.4
87.0
93.2

1965...
1966...
1967...
1968...

97.7
104.6
99.4
100.8

98.9
104.6
99.3
99.5

99.3
103.8
99.5
99.3

99.9
103.8
99.7
101.0

100.2
103.0
99.2
101.9

100.4
103.3
99.7
101.8

100.7
101.9
99.9
100.1

101.3
100.8
100.4
100.8

102.1
100.3
101.0
101.6

93.2
100.5
103.2
99.8
101.1

103.0
100.5
100.8
102.3

103.8
100.1
101.6
102.4

98.6
104.3
99.4
99.9

100.2
103.3
99.6
101.3

100.8
102.0
100.0
100.9

103.0
100.3
101.1
102.1

100.6
102.5
100.0
101.0

1969. ..
1970...

817.

COMPOSITE INDEX OF SENSITIVE FINANCIAL FLOWS
(1967=100)

93.8

94.1

96.0

95.4

96.3

94.0

95.4

97.5
93.6
98.6
99.9

97.5
95.0
97.2
101.1

94.6
98.2
96.2
96.4

96.5
99.3
94.3
99.8

95.8
99.8
96.3
98.6

97.4
95.2
97.5
100.6

96.1
98.1
96.1
98.9

96.2
97.0
96.6
96.2

96.0
97.3
96.6
97.0

94.9
97.4
98.3
96.4

100.1
93.6
99.8
98.1

97.9
94.5
100.2
97.1

96.3
95.3
99.5
96.3

95.7
97.2
97.2
96.5

97.5
95.2
99.2
97.0

94.5
95.5
99.6
97.7

94.2
96.8
98.7
96.4

94.2
97.6
97.5
96.2

93.4
98.2
96.3
96.3

96.1
94.0
99.8
98.3

95.6
94.5
100.6
97.8

95.3
95.1
100.9
97.6

93.9
97.5
97.5
96.3

95.3
95.3
99.7
97.5

97.5
99.7
102.3
102.5

97.7
98.9
101.9
104.0

98.1
101.6
104.3
102.3

99.2
101.7
103.4
101.3

99.5
101.2
101.9
103.2

96.0
98.8
101.3
102.4

96.3
100.2
102.1
102.8

97.2
99.4
102.3
103.4

98.9
101.5
103.2
102.3

97.1
100.0
102.2
102.7

104.9
100.6
101.9
105.4

105.0
99.2
101.3
103.1

104.3
97.7
101.0
105.2

104.1
98.3
101.9
106.6

104.0
97.3
101.6
106.9

103.8
104.4
98.1
102.5

104.2
101.7
99.1
104.2

104.6
99.9
101.4
104.2

104.1
97.8
101.5
106.2

104.2
100.9
100.0
104.3

95.3

95.3

96.9

96.3

95.7

96.6
99.2
93.9
97.2

97.3
99.0
94.6
100.3

95.5
99.6
94.5
101.9

95.7
101.5
94.0
98.9

95.6
99.4
97.0
97.4

96.1
98.5
97.8
99.6

97.3
97.0
96.6
100.8

97.5
95.7
99.8
96.2

96.1
95.2
99.2
96.0

95.2
95.1
99.5
96.6

95.5
95.2
100.7
97.7

96.0
94.1
103.4
97.4

95.5
95.7
99.7
97.7

96.5
99.6
101.8
103.5

96.9
100.3
102.2
102.6

96.4
99.5
102.7
103.6

103.9
100.7
99.8
104.6

104.3
101.2
101.2
103.7

104.0
100.0
100.9
104.2

93.3
97.4
96.8
96.4

1953...

99.5

99.0

101.8

99.2

98.1

96.4

1955...
1956...

99.5
98.0

100.4
98.3

99.4
98.1

100.3
98.1

101.0
96.4

99.4
96.9

1957...
1958...
1959...
1960...

95.9
93.8
99.4
97.9

96.3
94.4
99.9
98.9

96.2
93.7
100.1
98.0

95.6
93.9
100.1
98.7

95.8
94.4
100.9
97.0

1961...
1962...
1963...
1964...

95.8
98.0
101.7
101.7

95.9
99.2
101.3
103.2

96.4
99.3
101.0
102.3

95.5
100.6
102.2
102.2

1965...
1966...
1967...
1968...

103.6
104.9
96.2
101.9

103.8
104.2
98.8
103.0

103.9
104.0
99.2
102.6

104.4
103.1
96.4
104.2

95.4
98.1
96.1
95.6

94.1

95.7

1949...
1950...
1951...
1952...

95.0
99.1
95.8
97.2

AVERAGE FOR PERIOD

1969...
1970...

820.

1948...

31.6

31.2

31.4

COMPOSITE INDEX OF 5 COINCIDENT INDICATORS
(1967*100)

31.4

32.0

AVERAGE FOR PERIOD

32.6

32.8

32.8

32.8

32.9

32.7

32.3

31.4

32.0

32.8

32.6

32.2

29.3
36.5
40.2
42.5

29.8
36.4
40.1
43.9

28.3
36.9
40.2
44.7

29.2
36.9
40.5
45.2

29.5
38.0
41.0
45.8

31.1
30.7
39.6
41.5

29.8
32.7
0.4
1.7

29.4
36.0
40.1
42.4

29.0
37.3
40.6
45.2

29.8
34.2
40.2
42.7

1950...
1951...
1952...

30.2
39.2
41.0

30.4
39.7
41.6

31.5
39.9
41.8

31.9
0.3
1.7

32.7
40.5
41.9

33.6
0.4
1.6

29.0
35.1
40.0
40.9

1953...
1954...
1955...
1956...

45.8
43.1
45.1
51.0

46.6
43.0
45.7
51.2

47.1
42.5
46.5
51.1

7.1
2.4
7.1
51.8

47.4
42.3
47.9
51.7

7.3
2.5
8.4
51.9

47.5
42.3
49.1
50.2

47.0
42.3
49.0
52.2

46.4
42.4
49.7
52.9

46.0
42.8
49.9
53.5

44.8
43.8
50.4
53.3

43.6
44.5
50.7
53.8

46.5
42.9
45.8
51.1

7.3
2.4
7.8
51.8

47.0
42.3
49.3
51.8

44.8
43.7
50.3
53.5

46.4
42.8
48.3
52.0

1957...
1958...
1959...
1960...

53.8
50.9
54.2
59.7

54.5
49.7
54.9
60.1

54.8
49.0
55.9
59.4

54.3
48.4
57.1
60.0

54.2
48.7
58.0
59.8

54.3
49.4
58.4
59.5

54.5
50.1
58.0
59.3

54.8
50.7
56.6
59.1

54.0
51.2
56.4
59.0

53.5
51.6
56.1
58.5

52.6
53.0
56.5
58.0

51.8
53.4
58.9
57.1

54.4
49.9
55.0
59.7

54.3
48.8
57.8
59.8

54.4
50.7
57.0
59.1

52.6
52.7
57.2
57.9

53.9
50.5
56.8
59.1

1961...
1962...
1963...
1964...

57.1
62.7
66.5
71.6

56.9
63.5
66.7
72.3

57.4
64.1
67.3
72.5

57.7
64.6
67.8
73.4

58.3
64.8
68.2
74.2

59.2
64.8
68.9
74.4

59.5
65.2
69.3
75.4

60.4
65.4
69.6
75.8

60.3
65.8
69.9
76.4

61.1
66.0
70.5
75.8

62.2
66.3
70.2
77.4

62.7
66.2
71.2
78.6

57.1
63.4
66.8
72.1

58.4
64.7
68.3
74.0

60.1
65.5
69.6
75.9

62.0
66.2
70.6
77.3

59.4
65.0
68.8
74.8

81.2
92.8
98.5
107.7

82.1
93.2
98.5
108.6

82.9
94.6
99.3
109.6

84.1
95.0
99.8
110.5

84.7
95.8
100.9
110.9

85.7
96.5
100.8
111.9

79.9
91.1
98.2
105.8

82.1
93.5
98.8
108.6

84.8
95.8
100.5
111.1

87.7
97.6
102.5
113.9

83.6
94.5
100.0
109.9

1965...
1966...
1967...
1968...

79.3
89.8
98.3
104.8

79.5
91.1
98.0
105.8

.. 80.8
92.4
98.3
106.9

86.5
97.3
100.5
112.9

87.7
97.6
102.7
114.1

88.9
97.8
104.3
114.7

1969...
1970...

NOTE: Since last shown here, these series have been revised beginning with 1948. See "New Features and Changes for This Issue," page iii.




(AUGUST 1970)

105

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol (u) (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Quarterly

Monthly

Year
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

830. COMPOSITE I N D E X OF 6 L A G G I N G I N D I C A T O R S 1
(1967*100)

II Q

III Q

IV Q

Annual

AVERAGE FOR P E R I O D

...

...

...
...

...
. ..

1948...

27.3

27.8

28.3

28.5

28.6

28.9

29.5

29.9

30.2

30.4

30.7

30.4

27.8

28.7

29.9

30.5

29.2

1949...
1950...
1951...
1952. ..

30.5
26.5
34.5
41.5

30.2
26.4
35.6
42.2

29.7
26.5
36.6
42.4

29.2
26.7
37.9
42.2

28.7
27.2
38.9
42.3

28.0
27.6
39.4
42.7

27.6
28.1
39.8
42.2

27.1
29.1
40.2
42.0

26.8
29.9
40.2
42.1

26.6
31.2
40.5
42.6

26.3
32.6
40.5
43.3

26.3
33.4
41.5
43.4

30.1
26.5
35.6
42.0

28.6
27.2
38.7
42.4

27.2
29.0
40.1
42.1

26.4
32.4
40.8
43.1

28.1
28.8
38.8
42.4

1953...
1954...
1955...
1956...

44.0
45.3
41.8
49.6

44.8
44.7
42.1
50.3

45.1
44.0
42.3
51.0

45.7
43.6
42.6
52.1

46.0
43.0
43.3
52.5

46.3
42.6
44.1
53.2

46.4
42.3
44.9
54.4

46.5
41.6
46.0
54.5

46.6
41.4
46.4
54.7

46.7
41.4
47.2
55.4

46.1
41.9
48.3
55.6

45.9
42.0
48.9
56.2

44.6
44.7
42.1
50.3

46.0
43.1
43.3
52.6

46.5
41.8
45.8
54.5

46.2
41.8
48.1
55.7

45.8
42.8
44.8
53.3

1957. ..

56.8

57.4
55 .5
53.8
61.1

57.7

58.5

58.4

55.6
62.6

58.4
51.1
57.5
61.6

59.3

54.8
61.8

58.0
51.5
56.4
62.1

58.9

53.2
59.9

57.1
56 .4
53.5
60.8

57.8

1959...
1960...

58.3
60.9

58.6
60.5

58.9
60.2

59.0
60.3

58.2
52 .9
59.3
59.9

57.1
56. 4
53.5
60.6

57.8
52. 7
55.6
62.2

58.9
51.1
58.1
61.0

58.4
52 . 2
59.1
60.1

58.0
53 . 1
56.6
61.0

1961. . .
1962...
1963...
1964...

59.7
60.8
63.7
68.3

59.4
61.0
63.6
68.8

59.2
61.4
63.8
69.1

58.8
61.9
64.0
69.5

58.5
62.2
64.2
69.8

58.5
62.8
64.8
70.0

58.3
62.9
65.3
70.2

58.6
63.2
65.7
70.8

59.0
63.4
66.3
72.0

59.5
63.8
66.8
72.3

60.0
63.7
67.6
72.5

60.3
63.8
68.2
73.3

59.4
61.1
63.7
68.7

58.6
62.3
64.3
69.8

58.6
63.2
65.8
71.0

59.9
63.8
67.5
72.7

59.2
62.6
65.3
70.6

1965...
1966...
1967...
1968...

74.0
84.8
98.9
103.8

74.5
86.1
98.8
105.1

75.5
87.3
99.0
105.7

76.3
88.7
99.1
107.2

77.3
90.4
99.3
108.2

77.8
92.2
99.7
108.8

78.9
93.5
99.9
108.8

79.4
95.0
100.2
110.8

80.5
96.2
100.6
111.3

81.5
97.1
100.7
111.9

82.5
98.1
101.3
113.2

83.4
98.3
102.5
115.1

74.7
86.1
98.9
104.9

77.1
90.4
99.4
108.1

79.6
94.9
100.2
110.3

82.5
97.8
101.5
113.4

78.5
92.3
100.0
109.2

1969...
1970...
17.

INDEX OF P R I C E PER U N I T OF LABOR COST 2
(1957-59*100)

A V E R A G E FOR P E R I O D
.. .

...

...

1947...
1948...

103.1
106.7

103.3
105.7

104.7
104.6

104.4
105.5

103.0
106.7

102.7
107.2

103.7
106.5

104.3
106.0

104.5
105.6

105.3
105.2

106.4
103.4

105.9
103.7

103.7
105.7

103.4
106.5

104.2
106.0

105!9
104.1

104.3
105.6

1949...
1950...
1951...
1952...

102.7
101.9
115.1
104.0

101.4
102.7
114.5
103.6

102.2
103.1
113.4
102.8

101.1
104.2
111.0
102.4

99.4
104.8
110.5
101.1

100.1
106.7
108.6
100.6

99.5
109.8
106.4
102.3

101.3
112.1
105.1
102.7

101.8
112.6
105.1
101.9

101.4
110.5
105.5
101.3

102.3
109.8
104.8
101.8

101.7
112.5
104.0
100.2

102.1
102.6
114.3
103.5

100.2
105.2
110.0
101.4

100.9
111.5
105.5
102.3

101.8
110.9
104.8
101.1

101.2
107.6
108.7
102.1

1953. ..
1954...
1955...
1956...

100.6
97.2
100.8
101.8

99.9
97.2
100.5
101.6

99.9
96.7
101.0
101.1

99.8
97.7
101.9
101.7

100.6
98.6
101.6
102.1

100.0
98.6
102.3
101.5

101.9
99.0
102.8
97.9

101.4
99.2
103.1
100.8

101.2
100.1
104.1
101.8

99.2
98.4
104.2
100.9

98.1
97.5
102.0
101.2

96.8
98.8
101.8
100.3

100.1
97.0
100.8
101.5

100.1
98.3
101.9
101.8

101.5
99.4
103.3
100.2

98.0
98.2
102.7
100.8

100.0
98.2
102.2
101.1

1957. ..
1958...
1959...
1960...

101.0
96.4
99.8
102.2

101.0
95.1
100.8
101.3

101.0
94.2
101.3
100.9

100.4
94.8
102.6
100.2

101.3
97.1
103.6
100.1

101.2
98.7
103.7
100.6

101.6
99.8
101.8
100.3

101.6
99.8
100.6
100.5

101.2
99.1
100.6
100.4

99.4
100.3
99.5
99.7

98.1
100.3
98.8
99.3

97.5
100.1
101.2
99.7

101.0
95.2
100.6
101.5

101.0
96.9
103.3
100.3

101.5
99.6
101.0
100.4

98.3
100.2
99.8
99.6

100.4
98.0
101.2
100.4

1961. ..
1962...
1963...
1964...

98.5
100.7
99.6
102.0

98.7
100.7
99.9
101.3

98.7
100.7
100.4
101.1

99.9
100.2
100.8
101.5

100.3
100.3
101.4
101.8

100.8
99.9
102.3
101.4

101.4
100.5
102.0
101.9

101.9
100.5
101.6
101.3

102.0
100.8
101.1
100.1

100.9
100.1
101.0
100.0

100.7
100.1
100.4
101.6

101.1
99.6
100.7
102.0

98.6
100.7
100.0
101.5

100.3
100.1
101.5
101.6

101.8
100.6
101.6
101.1

100.9
99.9
100.7
101.2

100.4
100.3
100.9
101.3

1965...
1966...
1967...
1968. ..

102.9
105.1
102.5
1O0.7

102.9
105.1
102.3
100.5

103.1
105.2
101.8
1O0.5

103.3
104.3
101.6
1O0.6

103.4
104.9
101.2
99.8

104.3
104.7
100.7
100.2

104.5
105.1
100.8
100.2

104.2
104.7
100.5
98.4

103.4
104.4
100.2
98.2

103.1
104.3
100.4
98.2

103.4
103.5
100.4
98.4

104.6
103.6
101.2
98.3

103.0
105.1
102.2
100.6

103.7
104.6
101.2
100.2

104.0
104.7
10O.5
98.9

103.7
103.8
100.7
98.3

103.6
104.6
101.1
99.5

163.3
180.3
204 .0
215.4

166.7
184.7
196. 1
216.3

169.4
185.2
196 .9
215.0

168.1
187.4

173.6
170.8

173.5
176.2

169.7
182.1

168.1
185.8

1969...
1970...
52. PERSONAL I N C O M E 2
( A N N U A L RATE* B I L L I O N S OF DOLLARS)
1945...
1946...

173.4
170.3

173.7
169.6

1948...

202.5

1949. ..
1950. ..
1951...
1952...

208.9
216.9
244.5
261.9

1953...
1954...
1955...
1956...

AVERAGE FOR P E R I O D

173.7
172.6

172.1
174.5

173.1
175.9

175.2
178.1

175.1
182.4

202.0

205.5

206.5

207.8

212.0

212.8

170.8
183.7
189 . 1
215.2

212I3

203!3

208." 8

214.5

214.5

171.1
178.7
191.3
210.2

208.0
219.8
247.2
265.7

209.1
224.9
249.8
266.4

208.1
220.2
252.7
265.8

207.6
220.7
254.1
268.8

205.6
221.8
255.9
270.4

204.0
226.1
255.5
269.4

205.5
230.5
258.4
276.9

208.7
232.7
258.9
279.7

205.0
235.8
261.9
280.8

207.5
237.9
262.9
280.1

208.7
243.3
263.9
282.1

208.7
220.5
247.2
264.7

207.1

206.1
229.8
257.6
275.3

207.1
239.0
262.9
281.0

207.2
227.6
255.6
272.5

282.8
287.7
298.2
323.0

284.7
288.7
300.0
325.0

287.5
287.7
302.4
326.2

287.8
286.6
305.5
329.3

289.1
287.5
308.1
329.8

290.3
287.7
309.2
331.9

289.8
288.2
313.9
331.0

289.2
289.8
314.3
335.6

289.1
291.6
316.5
337.9

290.9
293.3
317.9
341.4

289.1
296.1
320.4
341.4

288.1
296.9
322.5
343.3

285.0
288.0
300.2
324.7

289.1

289.4
289.9
314.9
334.8

289.4
295.4
320.3
342.0

288.2
290.1
310.9
333.0

1958...
1959...
1960. ..

353.8
373.5
396.4

353.5
375.8
396.5

355.3
378.6
396.9

354.6
381.8
400.2

355.8
384.0
401.7

357.6
385.6
401.9

353.9
364.0
386.0
402.8

355.5
363.8
383.4
403.3

365.7
383.9
403.8

366.4
385.0
404.8

354 . 8
370.8
389.0
403.8

353 .7
372.6
395.3
401.3

354.2
376.0
396.6

356 .'o

364.5
384.4
403.3

369!9
389.8
403.3

351 . 1
361.2
383.5
401.0

1961...
1962...
1963...
1964...

404.8
430.7
457.6
482.4

405.5
433.7
455.7
484.6

409.5
437.2
457.6
486.8

409.6
439.8
458.4
490.1

412.2
440.8
461.2
493.0

415.8
441.8
464.2
495.0

419.6
443.
465.
498.

418.8
444.6
467.8
502.6

419.8
447.0
470.0
505.3

424.3
447.9
473.4
506.0

428.6
450.4
474.9
509.8

431.1
452.6
479.1
515.6

406.6
433.9
457.0
484.6

412.5

419.4
445.0
467.8
502.1

428.0
450.3
475.8
510.5

416.8
442.6
465.5
497.5

1965...
1966...
1967...
1968...

518.8
565.3
612.2
656.0

519.4
570.8
613.7
664.0

522.9
574.9
616.8
671.8

525.9
577.8
618.7
674.5

531.1
579.6
621.2
681.0

535.5
584.7
626.5
687.2

539.
588.
630.
692.

541.9
593.1
635.5
697.6

557.2
597.0
637.9
702.9

553.5
601.6
639.9
707.8

558.3
602.6
646.1
712.8

563.3
607.8
652.7
716.9

520.4
570.3
614.2
663.9

530.8
580.7

546.0
592.8
634.7
697.6

558.4
604.0
646.2
712.5

538.9
587.2
629.3
688.7

220.9
254.2
268.3
287.3
307.6
330.3

383.8

401.3
440.8

461.3
492.7

622.1
680.9

1969...
1970. ..
Since last shown here, this series has been revised beginning with 1948. See "New Features and Changes
Since last shown here, these series have revised beginning with 1967.

2

106



(AUGUST i9?o)

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index-Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol © (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Monthly

Quarterly

Year
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

53. WAGE AND SALARY INCOME IN MININGi MANUFACTURING! AND CONSTRUCTION 1
(ANNUAL R A T E * BILLIONS OF DOLLARS)

II Q

III Q

Annual

IV Q

AVERAGE FOR PERIOD

46.0
51.5
59 .7

36.7
46.9
52.6
59.4

36.4
47.3
53.3
59 .4

36.8
47.8
54.0
59.6

37.1
48.7
55.2
58.9

49.0
37.8
49.6
56.5

47.2
42.4
50.6
57.0

41.2
45.7
51.7
59.3

36.8
47.9
54.2
59.3

43.6
43.4
51.5
58.0

54.3
62.7
73.9
73.8

53.8
64.7
73.7
79.3

54.7
65.0
74.0
82.3

52.4
67.3
73.7
83.2

53.0
68.3
74.5
84.4

54.0
69.2
75.8
85.7

57.4
55.4
71.0
76.9

55.0
59.6
73.6
76.7

54.3
64.1
73.9
78.5

53.1
68.3
74.7
84.4

55.0
61.9
73.3
79.1

87.6
82.5
90.4
97.3

88.1
81.9
91.2
95.8

87.6
81.9
91.1
98.4

86.2
81.6
91.9
99.6

86.5
83.0
92.9
101.0

85.2
84.8
94.3
100.8

84.4
85.2
94.5
102.3

86.7
83.3
86.7
95.1

87.8
82.6
89.7
97.0

87.3
81.8
91.4
97.9

85.4
84.3
93.9
101.4

86.8
83.0
90.4
97.9

101.4
93.9
108.4
111.6

102.1
95.0
108.9
110.9

102.0
96.0
108.3
110.6

102.3
97.5
105.7
109.7

101.3
98.6
105.5
108.8

100.6
98.1
105.0
108.8

100.1
101.7
106.1
107.4

98.8
102.2
109.8
104.7

102.1
96.1
104.3
111.2

101.8
94.3
108.2
111.2

101.9
97.4
106.5
109.7

99.8
100.7
107.0
107.0

101.4
97.1
106.5
109.8

107.6
118.3
120.
129.

108.6
118.0
122.2
130.1

110.5
118.0
123.0
130.6

110.9
118.8
123.5
131.8

111.5
118.7
123.5
133.2

110.2
119.5
124.6
134.2

113.0
118.9
125.3
132.7

114.8
119.7
125.7
134.7

115.2
119.7
126.8
136.8

106.4
115.5
120.2
127.4

108.9
118.1
122.0
130.1

110.9
119.0
123.9
133.1

114.3
119.4
125.9
134.7

110.1
118.0
123.0
131.3

138.
154.

140.1
155.1

141.0
157.0

141.6
157.4

142.7
158.9

143.4
159.4

145.3
160.7

146.9
161.4

148.4
161.8

137.7
151.0

142.6
158.6

146.9
161.3

173.

177.3

178.4

179.2

179.8

182.0

183.6

185.0

18&I9

172I2

139.8
155.5
161.5
176.5

I8o!3

18si2

141.7
156.6
163 .8
178.6

1946...
1947...

36.9
49.2

36.2
49.5

40.2
50.0

41.3
50.1

42.0
50.7

43.8
51.1
57 .9

44.2
50.9
58 . 8

1949...
1950...
1951...
1952...

58.2
54.9
69.9
76.3

57.7
54.6
71.0
76.9

56.4
56.7
72.2
77.4

55.6
58.2
73.5
76.5

55.2
59.8
73.4
77.2

54.2
60.9
73.9
76.4

1953...
1954...
1955...
1956...

85.8
83.3
85.7
94.8

86.7
83.5
86.6
95.0

87.6
83.1
87.9
95.6

87.8
82.5
88.7
97.2

88.0
82.8
90.1
96.6

1957...
1958...
1959...
1960...

101.5
97.6
103.2
111.2

102.4
95.5
104.1
111.5

102.3
95.3
105.7
111.0

101.9
94.0
107.2
111.2

1961. ..
1962...
1963...
1964...

106.4
114.3
120.0
125.8

106.1
115.5
119.9
128.0

106.6
116.7
120.6
128.5

1965...
1966...
1967. . .
1968...

136.5
149.0
162. 2
169.9

138.0
151.3
160.8
173.0

138.7
152.8
160. 8
173.8

1969...
1970...

62.

INDEX OF LABOR

COST PER UNIT OF OUTPUTi TOTAL MANUFACTURING 1
(1957-59=100)

AVERAGE FOR PERIOD

1947...
1948. ..

72.0
77.5

72.3
77.4

72.7
78.4

72.9
78.2

73.6
77.5

73.9
77.6

73.6
78.8

74.0
80.0

75.1
80.4

75.2
80.1

75.2
81.3

76.7
80.9

72.3
77.8

73.5
77.8

74.2
79.7

75.7
80.8

73.9
79.0

1949...
1950...
1951...
1952...

81.0
78.2
80.8
88.1

81.2
77.9
81.9
88.2

80.2
77.6
82.7
88.6

80.3
76.9
84.4
88.6

80.9
77.2
84.7
89.7

79.9
76.2
85.7
90.0

80.1
75.8
87.1
88.6

78.9
75.9
87.8
88.6

78.4
76.9
87.6
89.3

78.5
79.1
87.3
89.4

77.7
80.5
87.7
88.6

78.3
80.6
88.4
89.6

80.8
77.9
81.8
88.3

80.4
76.8
84.9
89.4

79.1
76.2
87.5
88.8

78.2
80.1
87.8
89.2

79.6
77.7
85.5
88.9

1953. • .
1954. ..
1955...
1956...

89. 5
94.1
90.7
92.3

93.9
91.1
92.9

94.4
90.5
93.7

93.8
89.9
93.8

93.0
90.2
93.9

92.5
89.8
94.4

92.3
89.8
97.8

92.2
89.9
95.6

91.2
89.7
95.3

92.5
89.8
96.4

92 .7
93.4
91.8
96.4

94 . 1
92.4
92.0
97.4

94!l
90.8
93.0

90.2
93.1
90.0
94.0

89 .9
91.9
89.8
96.2

92 .9
92.8
91.2
96.7

90 .7
93.0
90.4
95.0

1957. ..
1958...
1959...
1960...

97.3
103.7
100.8
98.8

97.6
104.8
99.9
99.7

97.6
106.0
99.6
100.4

98.3
105.5
98.5
101.1

97.5
103.0
97.7
100.9

97.6
101.3
97.5
100.5

97.7
100.3
99.3
100.9

97.9
100.3
100.3
100.5

98.2
101.0
100.4
100.5

99.8
99.7
101.3
101.3

101.4
100.0
101.9
101.7

102.3
100.4
99.5
101.3

97.5
104.8
100.1
99.6

97.8
103.3
97.9
100.8

97.9
100.5
100.0
100.6

101.2
100.0
100.9
101.4

98.6
102.2
99.7
100.6

1961...
1962...
1963...
1964...

102.8
100.3
101.0
99.3

102.6
100.1
100.5
99.8

102.6
100.0
99.8
99.8

101. 1
100.5
99.2
99.4

100.2
100.4
99.0
99.0

99.5
100.7
98.5
99.4

99.0
100.3
99.0
99.2

98.5
100.2
99.2
99.7

98.4
100.3
99.6
101.1

99.
100.
99.
101.

99.7
100.6
100.5
99.8

99.6
101.0
100.2
99.5

102.7
100.1
100.4
99.6

100.3
100.5
98.9
99.3

98.6
100.3
99.3
100.0

99.6
100.7
100.2
100.2

100.3
100.4
99.7
99.8

1965...
1966...
1967. ..
1968...

98.9
99.3
103.8
107.4

98.9
99.8
104.0
108.2

98.7
99.8
104.4
108.4

98.8
100.8
104.5
108.4

99.0
100.6
105.0
109.3

98.8
100.9
105.9
109.2

98.7
100.9
106.0
109.5

99.0
101.6
106.3
111.3

99.8
101.9
106.9
111.9

100.
101.
106.7
112.0

100.3
102.6
106.9
112.1

99.5
102.5
106.3
112.4

98.8
99.6
104.1
108.0

98.9
100.8
105.1
109.0

99.2
101.5
106.4
110.9

100.0
102.3
106.6
112.2

99.2
101.0
105.6
110.0

1969...
1970...

856,

REAL AVERAGE HOURLY

EARNINGS OF PRODUCTION WORKERS IN MANUFACTURING 2
(1957-59 DOLLARS)

AVERAGE FOR PERIOD

1947...
1948...

1.54
1.54

1.56
1.58

1.54
1.58

1.54
1.56

1.57
1.56

1.59
1.57

1.59
1.56

1.58
1.59

1.56
1.59

.56
.61

1.56
1.62

1.55
1.64

1.55
1.57

1.57
1.56

1.58
1.58

1.56
1.62

1.56
1.58

1949...
1950...
1951...
1952. ..

1.64
1.70
1.72
1.74

1.67
1.71
1.71
1.77

1.66
1.71
1.71
1.78

1.66
1.72
1.72
1.77

1.66
1.72
1.73
1.77

1.66
1.72
1.74
1.76

1.67
1.72
1.74
1.74

1.67
1.72
1.74
1.77

1.66
1.70
1.74
1.80

.66
.72
.73
1.82

1.65
1.73
1.74
1.81

1.68
1.75
1.74
1.82

1.66
1.71
1.71
1.76

1.66
1.72
1.73
1.77

1.67
1.71
1.74
1.77

1.66
1.73
1.74
1.82

1.66
1.72
1.73
1.78

1953...
1954...
1955...
1956...

1.83
1.88
1.94
2.03

1.86
1.89
1.95
2.03

1.87
1.89
1.95
2.05

1.87
1.90
1.98
2.07

1.86
1.90
1.99
2.06

1.86
1.90
1.97
2.06

1.87
1.88
1.99
2.03

1.88
1.90
2.00
2.07

1.87
1.90
2.01
2.08

1.87
1.91
2.01
2.09

1.88
1.93
2.03
2.08

1.88
1.93
2.02
2.09

1.85
1.89
1.95
2.04

1.86
1.90
1.98
2.06

1.87
1.89
2.00
2.06

1.88
1.92
2.02
2.09

1.87
1.90
1.99
2.06

1957...
1958...
1959...
1960. ..

2.09
2.08
2.14
2.20

2.09
2.08
2.15
2.21

2.09
2.07
2.17
2.21

2.09
2.08
2.18
2.19

2.08
2.08
2.18
2.20

2.08
2.08
2.18
2.19

2.08
2.08
2.17
2.19

2.09
2.10
2.14
2.20

2.09
2.10
2.16
2.21

2.10
2.10
2.14
2.20

2.10
2.13
2.15
2.19

2.09
2.14
2.18
2.19

2.09
2.08
2.15
2.21

2.08
2.08
2.18
2.19

2.09
2.09
2.16
2.20

2.10
2.12
2.16
2.19

2.09
2.09
2.16
2.20

1961...
1962...
1963...
1964...

2.20
2.27
2.28
2.32

2.19
2.26
2.29
2.32

2.20
2.27
2.30
2.33

2.21
2.27
2.30
2.33

2.23
2.27
2.31
2.34

2.23
2.27
2.31
2.34

2.22
2.26
2.30
2.35

2.23
2.27
2.30
2.36

2.23
2.25
2.31
2.36

2.25
2.27
2.30
2.33

2.26
2.27
2.32
2.35

2.26
2.29
2.32
2.36

2.20
2.27
2.29
2.32

2.22
2.27
2.31
2.34

2.23
2.26
2.30
2.36

2.26
2.28
2.31
2.35

2.23
2.27
2.30
2.34

1965...
1966...
1967...
1968...

2.36
2.40
2.41
2.47

2.37
2.39
2.42
2.46

2.38
2.39
2.43
2.48

2.38
2.40
2.43
2.48

2.37
2.40
2.42
2.49

2.37
2.40
2.43
2.48

2.38
2.40
2.43
2.48

2.38
2.40
2*44
2.48

2.39
2.41
2.43
2.50

2.39
2.40
2.43
2.49

2.40
2.41
2.44
2.50

2.39
2.41
2.45
2.51

2.37
2.39
2.42
2.47

2.37
2.40
2.43
2.48

2.38
2.40
2.43
2.49

2.39
2.41
2.44
2.50

2.38
2.40
2.43
2.48

1969...
1970...

•"•Since last shown here, these series have been revised "beginning with 1967.
Since last shown here, this series has been revised beginning with 1962.

2




(AUGUST 1970)

107

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol © (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.
Quarterly

Monthly
Year

Feb.

Jan.

Mar.

Apr.

May

June

July

Aug.

Oct.

Sept.

Nov.

II Q

1Q

Dec.

859. REAL SPENDABLE AVERAGE WEEKLY EARNINGS OF PRODUCTION OR NONSUPERVISORY WORKERS ON PRIVATE
NONAGRICULTURAL PAYROLLS 1 (1957-59 DOLLARS)

IV Q

AVERAGE FOR PERIOD

:i:

:;:

:;;

:::

!!!

!!!

!!!

!!!

75.79

74.63

75.36

75.33

75.88

75.87

75.54

75.59

76.11

75.81

75.94

76,27

77.11

75 .11

75.76

75.84

76.44

77.04
78.21
77.98
77.61

77.33
78.03
77.53
78.27

77.29
78.11
77.50
78.11

76.91
77.96
77.27
77.86

77.35
77.78
77.32
78.25

76.98
77.82
77.36
78.27

77.06
77.84
77.67
78.10

77.40
77.30
77.65
78.33

77.19
77.42
77.71
78.69

77,78
77.73
77,42
78.28

77.94
77.54
77.81
77.82

78.04
77.70
77.67
78,53

77 .22
78 .12
77 .67
78 .00

77.08
77.85
77.32
78.13

77.22
77.52
77.68
78.37

77.92
77.66
77.63
78.21

1964...
1965.
1966.
1967.
1968.

Annual
IIIQ

77.36
77.79
77.57
78.18

1969.
1970.

Quarterly
Year

IQ

II Q

Quarterly

III Q

IV Q

16. CORPORATE PROFITS AFTER T A X E S 2
(ANNUAL RATEi BILLIONS OF DOLLARS)

1945
1946
1947

Annual

AVERAGE

Year

II Q

IIIQ

IV Q

22. R A T I O OF PROFITS (AFTER TAXES) TO- INCOME O R I G I N A T I N G .
CORPORATE. ALL INDUSTRIES 2
(PERCENT)

1945
1946

1948.....

10.4
20.7
22.2

13.6
19.6
23.4

17\Q
19.4
23.0

2o!l
21.1
22.2

20.2
22.7

1949
1950
1951
1952

20.1
18.9
25.2
20.0

17.7
22.6
21.3
18.8

18.4
27.6
19.3
18.8

18.1
30.3
20.7
20.7

18.5
24.9
21.6
19.6

1950.....

1953
1954
1955
1956

21.7
19.1
26.1
27.2

21.8
19.7
26.5
27.7

21.3
20.9
27.4
26.0

16.6
22.5
28.3
27.4

1957
1959
1960

27.6
19.8
28.0
28.9

26.5
20.2
30.8
27.8

26.0
22.8
27.9
25.5

1961
1962
1963
1964

24.4
30.7
31.1
37.7

26.4
30.9
32.8
38.2

1965
1966
1967
1968

44.5
49.8
45.7
46.9

45.7
50.0
45.9
48.3

1958... ••

IQ

Annual

AVERAGE

12.9
20.0
18.0

15,4
17.9
18.5

19.0
17.3
17.9

20.1
18.0
16.9

16.8
18.3
17.8

1951
1952

15.7
15.0
15.9
11.9

14.3
16.9
13.1
11.4

14.9
19.0
11.7
11.2

15.2
19.8
12.3
11.7

15.0
17.7
13.2
11.6

20.4
20.6
27.0
27.2

1953
1954
1955
1956

11.9
10.8
13.6
12.9

11.8
11.2
13.4
13.0

11.7
11.7
13.6
12.1

9.5
12.1
13.7
12.5

11.2
11.4
13.6
12.6

23.7
26.2
27.0
24.5

26.0
22.3
28.5
26.7

1957

12.3
9.3
11.8
11.4

11.7
9.5
12.6
10.9

11.5
10.4
11.5
10.2

10.8
11.5
11.0
9.9

11.6
10.2
11.7
10.6

27.8
31.5
33.5
39.1

30.1
31.8
34.9
38.8

27.2
31.2
33.1
38.4

1961
1963

1964,,,,.

9.7
11.3
10.8
12.2

10.3
11.1
11.3
12.1

10.6
11.2
11.3
12.1

11.2
11.1
11.7
11.9

10.4
11.2
11.3
12.1

46.3
50.7
46.2
48.0

49.3
49.3
48.9
49.6

46.5
49.9
46.6
48.2

1965
1966
1967
1968

13.3
13.6
11.8
11.3

13.4
13.3
11.8
11.1

13.3
13.3
11.5
10.8

13.9
12.6
11.9
10.9

13.5
13.2
11.8
11.0

1947.....

1948
1949

1958....,

1959
1960
1962...,,

1969
1970

1969.....

1970
2

57. FINAL SALES
(ANNUAL RATE. BILLIONS OF DOLLARS)

68,
AVERAGE

1945
1946
1947
1948

190.6
223.1
244.8

195.2
228.6
250.4

208.1
234.6
256.4

214.5
240.7
259.6

231.8
252.9

1949
1950
1951
1952

258.5
263.6
307.5
334.3

260.5
270.6
310.6
341.5

258.8
288.2
322.5
341.4

260.2
289.4
331.8
352.3

1953
1954
1955
1956

361.7
363.2
381.6
404.5

364.4
363.1
388.3
411.9

365.1
366.9
396.4
416.5

1957
1958
1959
1960

434.8
440.1
470.1
493.0

437.5
443.4
477.8
500.7

1961
1962
1963
1964. ....

507. 0
541.1
572.7
612.9

1965
1966
1967
1968

651.9
718.2
764.8
832.3

LABOR COST (CURRENT DOLLARS) PER U N I T OF GROSS PRODUCT
(1958 DOLLARS). NONFINANCIAL CORPORATIONS 2 (DOLLARS)

AVERAGE

1945
1946
1947,.,,.

1948

0.501

0.498

0 513

0.514

0.506

259.6
278.0
318.1
342.4

1949.....
1950,...,

0.514
0.507
0.534
0.559

0.516
0.505
0.543
0.566

0
0
0
0

507
506
542
575

0.518
0.514
0.544
0.578

0.514
0.508
0.541
0.570

365.3
372.2
401.7
425.1

364.1
366.4
392.0
414.5

1953.....

1954
1955
1956

0.577
0.600
0.575
0.608

0.580
0.594
0.577
0.615

0
0
0
0

582
587
584
624

0.598
0.584
0.592
0.631

0.584
0.591
0.582
0.620

443.1
451.3
483.6
501.0

443.8
460.3
484.1
505.7

439.8
448.8
478.9
500.2

1957
1958
1959
1960

0.634
0.668
0.653
0.661

0.638
0.663
0.647
0.669

0
0
0
0

644
658
659
674

0.653
0.650
0.660
0.678

0.642
0.660
0.655
0.670

512.8
551.1
579.4
621.9

520.4
559.2
588.8
634.1

532.3
565.6
597.7
637.4

518.1
554.3
584.6
626.6

1961
1962
1963
1964

0.681
0.665
0.667
0.659

0.672
0.668
0.665
0.662

0
.0
0
0

667
664
661
665

0.662
0.662
0.662
0.670

0.670
0.665
0.664
0.664

666.8
727.1
780.0
847.8

682.1
744.0
792.2
867.6

700.3
750.8
805.9
882.1

675.3
735.1
785.7
857.4

1965...,,

0.661
0.667
0.701
0.720

0.661
0.676
0.703
0.720

0
0
0
0

660
681
709
726

0.659
0.688
0.714
0.737

0.660
0.678
0.707
0.726

1969.....

1970
•"•Since last shown here, this series has been revised beginning with 1964.
Since last shown here, these series have been revised beginning with 1967.

1951

1952.....

1966
1967,,,.,

1968
1969
1970

2

108



(AUGUST

1970)

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol © (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been sea*
sonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.
Quarterly

Quarterly
Year

IQ

II Q

III Q

IV Q

11. NEWLY APPROVED CAPITAL APPROPRIATIONS! 1000 MFG. CORP. 1
(BILLIONS OF DOLLARS)
1945
1946**. »•
1947
1948

...

Annual

Year

2

Annual

II Q

IQ

IIIQ

1

IV Q

97. BACKLOG OF CAPITAL APPROPRIATIONSi MANUFACTURING '
(BILLIONS OF DOLLARS)

TOTAL

...

1945
1946.....
1947
1948

!.'.'

1949
1950
1951
1952.....

::;

::;
:::

3

END OF YEAR

:::
"."/.

:::

:::

:::

Ill

1953
1954
1955
1956

1.77
1.86
2.69
4.04

2.06
1.84
3.26
3.71

2.29
1.87
3.90
3.38

2.05
2.28
4.01
3.43

8.17
7.85
13.86
14.56

1953
1954
1955
1956

5.97
5.41
5.62
11.31

5.82
5.05
6.79
11.99

5.92
4.81
8.42
12.13

5.78
4.98
10.01
12.08

5.78
4.98
10.01
12.08

1957
1958
1959
1960

3.61
1.95
2.69
2.87

3.21
1.94
2.94
2.52

2.43
2.20
3.13
2.27

2.33
2.23
3.13
2.71

11.58
8.32
11.89
10.37

1957
1958
1959...,.
1960

12.11
8.11
7.68
9.66

11.64
7.40
8.29
9.25

10.46
7.25
8.97
8.66

9.29
7.23
9.57
8.57

9.29
7.23
9.57
8.57

1961
1962
1963
1964

2.39
2.99
2.76
4.12

2.46
2.52
3.27
4.66

2.72
2.82
3.66
4.91

2.70
3.15
3.94
4.34

10.27
11.48
13.63
18.03

1961
1962
1963
1964

8.29
8.47
8.73
11.49

8.12
8.35
9.21
12.58

8.23
8.33
9.82
13.85

8.23
8.70
10.65
14.13

8.23
8.70
10.65
14.13

1965
1966
1967
1968

5.07
6.54
5.98
5.87

5.54
6.77
5.96
5.71

5.59
5.99
5.93
6.43

6.15
6.01
5.98
6.61

22.35
25.31
23.85
24.62

1965
1966
1967
1968

14.99
19.16
20.14
20.17

16.07
20.37
19.96
20.04

16.94
20.46
20.05
20.46

18.09
20.40
20.05
21.02

18.09
20.40
20.05
21.02

1949.....
1950
1951
1952

'•'•'•

:'::

;:*
'•'•'•

:'::

••'•

.'!!

1969
1970

1969.....
1970.....
Dll. DIFFUSION INDEX—
NEWLY APPROVED CAPITAL APPROPRIATIONS*
17 INDUSTRIES 1 2<PERCENT RISING OVER 1-QUARTER SPANS)
1945
1946
1947
1948

...

:::

on. DIFFUSION INDEX—
NEWLY APPROVED CAPITAL APPROPRIATIONSI
1 2
17 INDUSTRIES

AVERAGE

:::

1945
1946
1947.....
1948

(PERCENT RISING OVER 3-QUARTER SPANS)

...

AVERAGE

...

•'•j

;!';

I!!

;';';

:::
•';'•

:::

:::

1949.....
1950
1951
1952

47
41
88
35

35
65
47
53

*51
70
47

1953
1954...,.
1955.....
1956

29
94
68

50
88
53

65
59
82
44

47
82
76
38

*55
85
51

41
47
76
29

24
74
68
32

53
59
35
65

41
52
58
44

1957...,,
1958
1959
1960

35
18
82
15

24
47
88
6

18
74
82
32

6
94
47
56

21
58
75
27

53
59
41
53

59
47
65
76

76
59
68
59

47
71
65
35

59
59
60
56

1961
1962
1963
1964

59
38
71
88

65
65
71
59

71
53
82
65

65
68
82
68

65
56
76
70

82
76
53
35

71
44
53
53

62
26
53
76

41
47
59
47

64
48
54
53

1965.....
1966....,
1967
1968

82
82
53
47

76
53
35
62

76
35
62
71

76
41
47
76

78
53
49
64

1949
1950
1951
1952

...

...

...
...

...
...

1953
1954
1955
1956

...
38
88
65

71
59
59
35

1957.....
1958.....
1959.....
1960

47
26
53
50

1961
1962
1963
1964.....
1965
1966
1967
1968

ii:

...

'*:

1969
1970

1969.....
1970.....
D480. DIFFUSION INDEX FOR FREIGHT CARLOADINGS — ACTUAL4©
(PERCENT RISING OVER 4-QUARTER SPANS)

D48o. DIFFUSION INDEX FOR FREIGHT CARLOADINGS— ANTICIPATED*®
AVERAGE

(PERCENT RISING OVER 4-QUARTER SPANS)

1945
1946.....
1947
1948

...
...
89.5
73.7

...
...
89.5
57.9

58.8
89.5
57.9

76.5
84.2
42.1

88.2
57.9

1945
1946
1947
1948

1949
1950
1951
1952

42.1
36.8
89.5
42.1

36.8
68.4
63.2
21.1

26.3
89.5
42.1
36.8

15.8
89.5
31.6
42.1

30.2
71.0
56.6
35.5

1953
1954
1955
1956

52.6
21.1
63.2
63.2

78.9
21.1
73.7
52.6

78.9
10.5
73.7
26.3

26.3
42.1
73.7
42.1

1957
1958
1959
I960

15.8
15.8
68.4
57.9

21.1
10.5
84.2
26.3

31.6
31.6
52.6
31.6

1961
1962
1963
1964

21.1
73.7
42.1
78.9

26.3
63.2
63.2
68.4

1965.....
1966
1967
1968

52.6
73.7
42.1
31.6

52.6
73.7
31.6
68.4

1969
1970

AVERAGE

84.2

94.7
89,5

82.4
94.7
73.7

88.2
94.7
68,4

96.0
79.0

1949
1950,....
1951
1952

78.9
47.4
89.5
52.6

36.8
63.2
68.4
36.8

26.3
78.9
68.4
52.6

36.8
94.7
63.2
68.4

44.7
71.0
72.4
52.6

59.2
23.7
71.1
46.0

1953.....
1954
1955
1956

78.9
31.6
78.9
100.0

73.7
26.3
84.2
84,2

78.9
26.3
94.7
73.7

42.1
31.6
89,5
73.7

68.4
29.0
86.8
82.9

5.3
36.8
42.1
31.6

18.4
23.7
61.8
36.8

1957
1958
1959
1960

63.2
36.8
63.2
89.5

68.4
21.1
89.5
57.9

68.4
10.5
78.9
68.4

47.4
52.6
84.2
78.9

61.8
30.2
79.0
73.7

36.8
57.9
73.7
84.2

68.4
63.2
57.9
73.7

38.2
64.5
59.2
76.3

1961
1962
1963
1964

50.0
89.5
68.4
78.9

42.1
89.5
63.2
73.7

89.5
94.7
78.9
68,4

73.7
89.5
68,4
94.7

63.8
90.8
69.7
78.9

63.2
57.9
10.5
68.4

63.2
52.6
42.1
57.9

57.9
64.5
31.6
56.6

1965
1966.....
1967
1968.....

89.5
73.7
78.9
73.7

89.5
89.5
52.6
63.2

84.2
84.2
78.9
73.7

84.2
78.9
73.7
68.4

86.8
81.6
71.0
69.8

100 !o

1969
1970

•"•These are copyrighted series used by permission; they may not be reproduced without written permission from the National Industrial Conference Board.
last shown here, these series have been revised beginning with 1965.
Since last shown here, this series has been revised beginning with 1953.
^hese series contain no revisions but are reprinted for the convenience of the user.
2
Since
3




(AUGUST 1970)

109

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol (u) (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been sea*
sonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Quarterly

Quarterly

Year

IQ

II Q

III Q

IV Q

600. FEDERAL GOVERNMENT SURPLUS OR DEFICIT? NATIONAL INCOME
AND PRODUCT ACCOUNTS 1 (ANNUAL RATEt BILLIONS OF DOLLARS)
1945
1946
1947
1948

-7.8
14.8
13.7

2.8
13.6
10.6

9.0
10.0
5.9

10.2
15.2
3.4

1949
1950
1951
1952

0.8
-4.8
18.0
0.1

-2.9
7.6
8.2
-3.8

-3.9
16.4
0.1
-7.6

1953
1954
1955
1956

-4.5
-10.5
1.3
6.3

-6.2
-6.6
4.0
5.5

1957.....
1958
1959
1960

4.3
-8.1
-4.2
7.1

1961
1962
1963
1964... ..
1965
1966
1967
1968

Annual

IQ

II Q

3.5
13.4
8.4

1945.....
1946
1947
1948

34.9
43.5
44.7

42.8
43.5

-3.9
17.1
-1.3
-3.7

-2.4
9.1
6.2
-3.8

1949.**..
1950
1951
1952

40.8
42.4
65.6
66.2

-5.7
-5.0
5.0
4.9

-11.7
-1.8
6.0
6.0

-7.0
-5.9
4.0
5.7

1953
1954
1955
1956

2.5
-12.4
0.8
5.6

2.6
-10.8
-1.0
1.5

-1.5
-9.8
-0.6
-0.6

2.1
-10.2
-1.2
3.5

-4*9
-5.0
-2.4
-2.5

-4.5
-4.6
1.8
-6.3

-3.8
-2.6
1.2
-2.7

-1.9
-3.2
2.1
-0.6

-3.8
-3.8
0.7
-3.0

4.4
1*4
-11.6
-9.2

4.7
3.0
-12.5
-10.5

-1.1
-4.1
-12.3
-1.1

1.2
-0.2
-12.4
-6.2

-3.1
-1.2
-13.1
-4.1

III Q

IV Q

601. FEDERAL GOVERNMENT RECEIPTS* NATIONAL INCOME AND
PRODUCT ACCOUNTS 1 (ANNUAL RATEi BILLIONS OF DOLLARS)

AVERAGE

33)2

Annual

AVERAGE

tti.i
42.1
42.6

42.1
44.5
42.4

39!l
43.2
43.3

38.8
46.6
62.7
66.3

38.5
52.9
62.0
66.8

37.5
57.5
65.9
69.8

38.9
49.9
64.0
67.2

71.7
62.9
69.2
75.6

71.9
62.9
71.1
77.2

70.7
63.6
73.3
77.2

65.6
65.7
75.0
80.1

70.0
63.8
72.1
77.6

1957
1958.....
1959.....
1960

82.4
76.0
87.5
97.5

82.2
75.9
91.2
97.6

82.3
79.5
89.9
95.7

79.4
83.1
90.3
95.1

81.6
78.7
89.7
96.5

1961
1962
1963. ....
1964

94.4
103.4
112.0
115.3

97.1
105.6
113.9
112.2

99.1
107.6
115.0
115.4

102.4
109.2
117.2
117.2

98.3
106.4
114.5
115.0

1965
1966
1967
1968

123.2
136.4
147.7
165.3

124.8
141.4
148.7
170.0

123.4
145.3
151.9
180.1

127.4
147.0
156.5
186.2

124.7
142.5
151.2
175.4

1969.....
1970

1969
1970

602. FEDERAL GOVERNMENT EXPENDITURES* NATIONAL INCOME AND
PRODUCT ACCOUNTS 1 (ANNUAL RATEf BILLIONS OF DOLLARS)

AVERAGE

854. RATIOt PERSONAL SAVING TO DISPOSABLE PERSONAL INCOME 1
(RATIO)

AVERAGE

35.' 6
29.8
34.9

1945
1946
1947
1948

0.117
0.062
0.050

0.106
0.027
0.068

0.082
0.047
0.084

0.077
0.038
0.079

0.096
0.044
0.070

41.4
40.4
67.2
73.5

41.3
40.8
57.8
71.0

1949
1950..,..
1951
1952

0.060
0.088
0.047
0.078

0.048
0.064
0.089
0.070

0.049
0.032
0.085
0.086

0.043
0.068
0.082
0.069

0.050
0.063
0.076
0.076

76.5
68.6
68.3
72.3

77.3
67.6
69.0
74.1

77.0
69.7
68.1
71.9

1953
1954
1955
1956

0.067
0.073
0.051
0.065

0.075
0.062
0.055
0.070

0.073
0.059
0.060
0.072

0.076
0.061
0.061
0.073

0.073
0.064
0.057
0.070

79.7
88.3
90.4
92.0

79.7
90.3
90.9
94.2

80.9
92.9
91.0
95.7

79.6
88.9
91.0
93.0

1957
1958
1959
1960

0.067
0.068
0.062
0.052

0.071
0.066
0.063
0.047

0.069
0.072
0.047
0.052

0.064
0.074
0.054
0.045

0.068
0.070
0.056
0.049

99.
108.
114.
117.8

101.6
110.2
112.1
118.5

102.9
110.2
113.8
118.1

104.3
112.4
115.1
117.8

102.1
110.3
113.9
118.1

1961
1962
1963
1964.,,..

0.052
0.059
0.049
0.052

0.056
0.062
0.048
0.064

0.060
0.054
0.046
0.058

0.062
0.048
0.054
0.066

0.058
0.056
0.049
0.060

118.8
135.0
159.3

120.2
138.4
161.2
180.5

126.5
146.5
165.0
184.2

128.5
151.1
168.8
187.2

123.5
142.8
163.6
181.6

1965.,...
1966
1967
1968

0.054
0.059
0.074
0.071

0.054
0.062
0.07O
0.076

0.067
0.061
0.075
0.061

0.065
0.072
0.077
0.065

0.060
0.064
0.074
0.068

1945... ..
1946
1947
1948

42.8
28.7
31.0

35.4
29.2
32.9

32.1
32.2
36.7

32.0
29.3
39,0

1949
1950.....
1951
1952..*..

40.0
47.2
47.6
66.1

41.7
39.0
54.5
70.1

42.4
36.4
61.9
74.4

1953

76.2

1955
1956.....

67.9
69.3

78.0
69.5
67.1
71.8

1957
1958
1959. ....
1960

78.1
84.1
91.
90.

1961..*..
1962
1963
1964
1965
1966
1967

1969
1970

1969
1970

250.

Year

BALANCE ON GOODS AND SERVICES? EXCLUDING TRANSFERS UNDER
MILITARY GRANTS 2 (MILLIONS OF DOLLARS)

1945
1946
1947
1948.....
1949
1950
1951
1952

1957
1958
1959
1960

598

1961
1962
1963
1964

1
1
1
2

1965
1966.....
1967.....
1968

1 598
1 557
1 363
455

642
133
187
267

:::

.*.*:
...

...

1953
1954
1955
1956

...

III

...
...

1
1
1
1

...

'"!"

•"•Since last shown her*
Since last shown her*

7 807
11 617
6 518

1945
1946.....
1947
1948...,.

...

1949
1950
1951
1952

...

...

:.:

532
1 959
2 153
4 145

1953
1954
1955.....
1956
1957
1958
1959
1960

6 577

6 838

7 026

7
7
7
9

190
327
596
177

6
7
8
9

945
789
163
074

7 221
7 731
8 220
9 412

8
10
11
11

844
555
456
932

10
10
11
12

248
669
489
685

127
930
565
295

819

1 189

1 528

5 901
2 356
310
4 133

340
453
572
983

1
1
1
2

1
1
1
2

346
197
794
141

5
5
5
8

622
149
984
580

1961
1962
1963
1964..,..

1 555
1 240
991
340

7
5
5
2

121
300
213
493

1965
1966
1967
1968

2 078
1 405
1 462
853

291
364
429
187

1 891
1 099
1 397
851

::.
*. *

6
1
3
2

218
892
817
356

'

!::

III

III

•••

1969
1970
2

252. EXPORTS OF GOODS AND SERVICES! EXCLUDING TRANSFERS UNDER
MILITARY GRANTS 2 (MILLIONS OF DOLLARS)

TOTAL

14 792
19 819
16 861
15
13
18
18

834
893
864
122

17
17
19
23

078
889
948
772

7 050

26
23
23
27

653
217
652
488

7
7
8
9

415
660
622
608

28
30
32
37

770
506
601
271

10
11
11
12

182
207
694
714

39
43
46
50

399
360
203
622

;••

*!*;

...

...

10
10
11
13

TOTAL

1969.....
1970

these series have been revised beginning with 1967.
these series have been revised beginning with 1966.
(AUGUST 1970i

110




C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol © (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Quarterly

Year

Quarterly

II Q

IQ

IV Q

III Q

253. IMPORTS OF GOODS AND SERVICES 1
(MILLIONS OF DOLLARS)
1945
1946
1947
1948

';•';

1949
1950... ..
1951
1952

!;

:';

;;;
;!;

:::
:::

:::

:::
...

1957
1958
1959
1960

5 979

6 019

5 837

1961
1962
1963
1964

5
6
6
6

548
194
409
910

5
6
6
7

605
336
591
091

5
6
6
7

930
367
791
225

1965
1966
1967
1968

7
8
10
11

246
998
093
477

8
9
10
11

170
264
027
832

8
9
10
12

236
831
168
444

8
9
10
12

1953
1954
1955
1956

6 985
8 202
10 343

1945
1946
1947..*..
1948.**..

9
12
15
15

616
001
047
766

16
15
17
19

•••

1949
1950
1951
1952

-427
-771
381

-641
-33
-427

546
930
795
627

1953
1954
1955
1956

-665
-371
48
-516

5 522

20
20
23
23

752
861
342
355

1957
1958
1959.....
1960

6
6
6
7

069
463
828
467

23
25
26
28

148
357
617
691

1961
1962
1963
1964. ....

627
967
703
374

32
38
40
48

278
060
990
129

1965
1966
1967
1968

:;:

III Q

IV Q

...

::i

1969
1970

Annual

TOTAL

:::

993
4 210
817

-1 761
311
-717

-660
485
-443

136
-3 489
-8
-1 206

-433
-173
-470
-208

-620
-479
-331
-386

-466
-518
-489
137

-2 184
-1 541
-1 242
-973

543
-652
-975
-819

147
-891
-1 071
-817

387
-859
-1 212
-1 032

-499
-963
-612
-1 233

578
-3 365
-3 870
-3 901

-515
-778
-1 111
-235

72
-302
-1 164
-617

-704
-450
-325
-681

-1 224
-674
-70
-1 267

-2
-2
-2
-2

-682
-588
-477
-244

206
-41
-360
106

-726
-387
-971
145

-133
-341
-1 736
164

-1 335
-1 357
-3 544
171

371
204
670
800

1969
1970

522. U.S. BALANCE OF PAYMENTS ON OFFICIAL SETTLEMENTS BASIS1
(MILLIONS OF DOLLARS)
1945
1946
1947
1948

:.':
...

1949
1950
1951
1952

.'::

525. NET CAPITAL MOVEMENTS ON LIQUIDITY BALANCE BASIS1
(MILLIONS OF DOLLARS)

TOTAL

...

...

iii

;'.

!i:

::':

:'..
...

:!:
:'•'•

•••

...

1953
1954
1955
1956
1957
1958
1959
1960

-291

-610

-1 033

-1 469

1961
1962
1963
1964.....

-772
-376
-980
-192

668
-316
-907
-400

-542
-1 076
-260
-466

-701
-934
136
-506

-1
-2
-2
-1

1965
1966. ....
1967
1968

-660
-335
-1 696
-61

236
-126
-747
1 652

-163
528
1
408

-702
199
-976
-358

1945
1946
1947
1948

1949.....
1950
1951
1952

...

...

:::
ii:
...

1953
1954
1955
1956

-3 403

-1 417

347
702
Oil
564

1961
1962
1963
1964

-2
-1
-2
-2

-1 289
266
-3 418
1 641

1965
1966
1967
1968

-2 280
-2 145
-1 840
-699

157
911
298
502

TOTAL

...
-6 814
-7 407
-5 701

...

1957
1958
1959
1960

1969
1970

-1
-1
-2
-2

268
755
736
600

-1 872
-1 446
-1 822
-747

082
381
825
562

-2
-3
-3
-5

716
500
395
118

-2 761

-5
-5
-4
-8

323
721
180
034

570
871
864
408

-7
-7
-8
-11

993
353
654
380

-1 688
-1 581
-2 727
-176

-8
-6
-8
-2

456
657
757
322

:::
...

:";
-1 636

-6
-5
-3
-3

...

•••

-2 221
-1
-1
-1
-2

995
814
754
868

-2 617
-1 486
-2 368
-706

-2
-1
-1
-3

1969
1970

527. NET CAPITAL MOVEMENTS ON OFFICIAL SETTLEMENTS BASIS x
(MILLIONS OF DOLLARS)
1945
1946
1947
1948

1953
1954
1955
1956

iii

'•'•'

iii
-1 429

-2 222

414
509
167
459

-672
-1 769
-2 479
-2 383

-1
-2
-1
-2

-2 258
-1 892
-3 059
-516

-1 842
-1 531
-2 209
799

-2 054
-571
-1 396
-443

1965....'.
1966
1967
1968

*!;
...

833
440
689
653

-2 997
-2
-2
-1
-2

047
131
658
647

-2 257
-1 041
-1 967
-698

1969
1970

•"•Since last shown here, these series have been revised beginning with 1966.
Since last shown here, this series has been revised beginning with 1968.

2




•••

•';'•'

'•'••

-889
-2
-1
-2
-2

'.:

•••

!'*.

...

1961. ....
1962
1963
1964..*..

OUTSTANDING 2 ©

TOTAL
...

:;!
;!;

1949
1950
1951
1952

1957
1958
1959
1960

II Q

IQ

520. U.S. BALANCE OF PAYMENTS ON LIQUIDITY BALANCE BASIS 1
(MILLIONS OF DOLLARS)

TOTAL

::.

Year

Annual

1949
950
951
952

...

:::
...

:::
...

953
954
955
956

END OF YEAR

(MILLIONS OF DOLLARS)

...

1945
1946
1947
1948

...

5 905
6 824

.'::

6
8
8
10

954
685
726
347

;'*

11
12
13
15

275
336
396
238

21 027

15
16
19
21

825
845
428
027

:::

•••

:.'!

-7 536

957
958
1959
1960

19 974

969
851
995
144

1961
1962
1963
1964

20
22
24
26

990
985
741
149

21
23
25
26

236
469
807
478

22
23
26
27

360
281
178
429

22
24
26
29

936
068
322
002

22
24
26
29

936
068
322
002

1965..*..
1966
1967
1968

28
28
28
32

342
738
990
482

28
28
29
32

086
819
620
514

29
29
31
33

051
432
211
493

29
29
33
33

115
779
119
614

29
29
33
33

115
779
119
614

-6
-7
-7
-10

-8 410
-5 034
-8 631
-852

20 637

21 086

1969
1970

(AUGUST 1970)

111

C. Historical Data for Selected Series-Continued
This appendix contains historical data (back to 1945 if available) for selected BCD series.
Data are published here for (a) series which have been added to the report, (b) series which
have been revised, and (c) series which have not been shown here for a long time. See the
"Index—Series Finding Guide" for the latest issue in which historical data were published
for each series. Data are seasonally adjusted unless the symbol (u) (indicating unadjusted

data) follows the series title. Official source agency annual figures are shown if available.
Such figures are often based on data with more digits or on data which have not been seasonally adjusted; therefore, they may differ slightly from annual figures based on the monthly
or quarterly data shown here. Current figures are shown in the basic data tables of the report
and may be used to update the tables below.

Quarterly
Year

IQ

II Q

Quarterly

III Q

IV Q

532. LIQUID AND CERTAIN NONLIQUID LIABILITIES TO FOREIGN
OFFICIAL AGENCIES* TOTAL OUTSTANDING 1 © (MIL. DOL.)

...

1945.. ...
1946.....
1947
1948
1949
1950....
1951....
1952....

';';
...

:::
:':*:

1953....
1954....
1955....
1956

!*;*•

iii
iii
iii

'•';';

10 480

1961
1962
1963
1964.....

11
12
14
14

940
095
105
938

11
12
15
15

645
671
024
188

12
13
15
15

572
055
250
794

12
13
15
16

630
766
366
755

12
13
15
16

1965
1966.....
1967
1968.....

15
16
16
18

873
004
295
407

15
16
17
16

736
305
424
994

15
15
17
17

972
797
819
493

16
16
19
18

822
043
402
574

ii 398

11 888

1949
1950
1951
1952

IV Q

(ASSETS) POSITION* EXCLUDING
(MILLIONS OF DOLLARS)

18
18
17
16

16 822

1965

19 402
18 574

1967
1968»»»»»

';;';

iii
iii
'•'•'•

ii*
'•'•'•

1953
1954. ....
1955
1956

21 345

630
766
366
755

IIIQ

Annual

END OF YEAR

...

1945»«»»»
1946»'»»»
1947
1948

1961
1962
1963
1964

11 888

II Q

U.S. OFFICIAL RESERVE
MILITARY GRANTS2 ©

1957
1958
1959. ••••
1960»»»»»

1969.....
1970
536.

IQ

534.

1957
1958
1959
I960.....

10 982

Year

END OF YEAR

iii
...

ii*
•I'-

...

Annual

21 170

••

24 023
25 759

III

26
24
24
24

025
267
300
715

iii

23
22
22
23

459
979
797
666

19 359

24
22
21
19

832
540
504
359

:'::
::'•
20 430

308
490
065
591

19
17
16
16

521
609
838
521

8
7
6
6

753
220
843
672

18
17
16
16

753
220
843
672

15 830

15 762

13 855
13 926

14 274
14 063

15
14
14
14

721
876
649
634

5
4
4
15

450
882
830
710

15
14
14
15

450
882
830
710

988
326
188
894

19
18
17
16

1969
1970

MERCHANDISE EXPORTSi ADJUSTED! EXCLUDING MILITARY GRANTS 1
(MILLIONS OF DOLLARS)

1945
1946
1947.....
1948

iii

1949
1950
1951
1952

;;'

iii
...

iii
iii

...

iii

1953
1954
1955
1956

il

iii

II

:r

537.
TOTAL

MERCHANDISE IMPORTS* ADJUSTED. EXCLUDING MILITARY x
(MILLIONS OF DOLLARS)

11 764
16 097
13 265

1945
1946. ....
1947.....
1948

12
10
14
13

213
203
243
449

1949
1950..*..
1951
1952

12
12
14
17

412
929
424
556

1953
1954
1955
1956

562
414
458
650

1957
1958
1959
1960

:**
::'•
...

TOTAL

iii
iii

iii
...

!!'.

'••'•

6
9
11
10

874
081
176
838

•I'-

I'-'-

;••

10
10
11
12

975
353
527
803
291
952
310
744

5 067
5 973
7 557

1957
1958
1959
1960

4 682

4 920

5 029

5 019

19
16
16
19

3 811

3 854

3 646

3 433

13
12
15
14

1961
1962
1963.....
1964

5
5
5
6

092
074
054
228

4
5
5
6

810
339
597
201

5
5
5
6

035
330
664
415

5
5
5
6

170
036
937
634

20
20
22
25

107
779
252
478

1961
1962
1963
1964

3
3
4
4

390
959
050
404

3 433
074
214
591

3 804
4 109
4 365
4 736

3 892
4 076
4 382
4 916

14
16
17
18

519
218
Oil
647

1965
1966
1967
1968

5
7
7
7

674
218
688
946

6
7
7
8

936
194
723
386

6
7
7
8

860
413
669
878

6
7
7
8

977
564
601
378

26
29
30
33

447
389
681
588

1965
1966
1967
1968

4
6
6
7

680
027
660
820

482
165
465
8 132

5
6
6
8

5
6
7
8

21
25
26
32

496
463
821
964

1969.... .
1970.....

564
595
542
569

770
676
154
443

1969
1970

540. U.S. INVESTMENT INCOMEi MILITARY SALES* AND OTHER
SERVICES EXPORTS* EXCLUDING MILITARY GRANTS 3 (MIL. DOL.)
1945
1946
1947
1948.....

...

1949
1950
1951
1952

T*

1953
1954
1955
1956

541.
TOTAL

...

iii
...

Hi

i'i

FOREIGNERS' INVESTMENT INCOME* MILITARY EXPENDITURES*
AND OTHER SERVICES IMPORTS3 (MILLIONS OF DOLLARS)

iii

3 028
3 722
3 596

1945
1946
1947
1948

iii

3 621
3 690
4 621
4 673

1949. ....
1950
1951
1952

*'/

4 666
4 960
5 524
6 216

1953
1954
1955
1956

7 091
6 803
7 194
7 838

1957
1958
1959
I960.....

iii
...

...

in

iii

iii

;';';'

:':':'

TOTAL

iii

II!

1 918
2 229
2 786

ii:
...

II!

2
2
3
4

742
920
871
928

5
5
6
6

571
577
268
824

iii

1957
1958
1959
1960

1 895

1 918

1 997

2 031

2 168

2 165

2 191

2 089

1961.....
1962
1963
1964. ....

2
2
2
2

098
253
542
949

2
2
2
2

135
450
566
873

2
2
2
2

186
401
556
997

2
2
2
2

245
624
685
974

8
9
10
11

663
727
349
793

1961
1962
1963
1964.....

2
2
2
2

158
235
359
506

2
2
2
2

172
262
377
500

2
2
2
2

126
258
426
489

2
2
2
2

177
387
446
551

8
9
9
10

629
139
606
044

1965.....
1966
1967.....
1968

3
3
3
3

170
337
768
986

3
3
3
4

312
475
766
299

3
3
3
4

267
517
896
417

3 205
3 643
4 093
4 336

12
13
15
17

952
971
522
034

1965
1966
1967
1968

2
2
3
3

566
971
433
657

2
3
3
3

688
099
562
700

2
3
3
3

672
236
626
875

2
3
3
3

857
291
549
931

10
12
14
15

782
597
169
165

1969
1970
1
Since last shown here, these series have
2
This series contains no revisions but is
3

been revised beginning with 1968.
reprinted for the convenience of the user.
Since last shown here, these series have been revised beginning with 1966.

112



7 461
7 909
8 032
8 611

1969
1970

(AUGUST 1970)

INDEX
Series Finding Guide
(See table of contents (page i) for chart and table titles)
Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series," following this index)

Current issue
(page numbers)
Charts

Tables

Historical
Series
descriptions
data
issue date) (issue date)

D

nfc

't

/MUD

t H II

217 Per capita GNP in 1958 dollars

9,21,38
9,21,38,56
9
9
9

5,65,71
5,65,71,87
5,65
5,65
5,65

A2. National and Personal Income
222
224.
225.
226.
227.

10
10
Personal income current dollars
10
Disposable personal income, current dol
Disposable personal income, constant dol ... 10
Per capita disposable personal income,
10
current dollars
Per capita disposable personal income,
10
constant dollars

A3. Personal Consumption Expenditures
230. Total, current dollars
231. Total, constant dollars
233.
234.
236.
237

11
11
11
1
Durable goods, exc. autos, current dollars. . . 1
11
Automobiles, current dollars
11
Nondurable goods, current dollars
11
Services current dollars

A4. Gross Private Domestic Investment
240. Gross private domestic investment, total
241 Nonresidential fixed investment

Dec.
Dec.
Dec.

'69
'69
'69

July '69
July '69

July '69
July '69

Oct.
Oct.
Oct.
Oct.
Oct.

'69
'69
'69
'69
'69

'69
'69
'69
'69
'69

5,65
5,65
5,65
5,65

Aug.
Aug.

'69
'69

Oct.
Oct.
Oct.
Oct.

5,65

Aug.

'69

Oct.

5,65

5,66
5,66
5,66
5,66
5,66
5,66
5,66

12
12
12
12
12
12,26

5,66
5,66
5,66
5,66
5,66

Aug.

Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.

'69

'69
'69
'69
'69
'69
'69
'69

Oct.

Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.

'69

'69
'69
'69
'69
'69
'69
'69

5,66,74

Aug.
Aug.
Aug.
Aug.
Aug.
Aug.

'69
'69
'69
'69
'69
'69

Oct.
Oct.
Oct.
Oct.
Oct.
Oct.

13,47
• 13,49
13,49

5,67
5,67
5,67

Aug.
Aug.
Aug.

'70
'70
'70

May '69
May '-69
May '69

A6. Gov. Purchases, Goods and Services
260. Federal, State, and local governments
262. Federal Government
264 National defense .
266. State and local governments

14
14
14,53
14

5,67
5,67
5,67

Aug. '69
Aug. '69
Dec. '69
Dec. '69

Oct.
Oct.
Oct.
Oct.

'69
'69
'69
'69

A7. Final Soles and Inventories
270 Final sales durable goods
271. Change in business inventories, durable

15

5,67

Dec. '69

Oct.

'69

15
15

5,67
5,67

Dec.
Dec.

'69
'69

Oct. '69
Oct. '69

15

5,67

Dec.

'69

Oct.

'69

16
16
16
286. Corp. profits and inventory valuation adj. ... 16
16
288 Net interest

5,67
5,67
5,67
5,68
5,68

Dec.
Dec.
Dec.
Dec.
Dec.

'69
'69
'69
'69
'69

Oct.
Oct.
Oct.
Oct.
Oct.

'69
'69
'69
'69
'69

243 Producers' durable equipment
245 Change in business inventories
A5. Foreign Trade
?S? Exoorts of poods and services
253 Imports of goods and services

274 Final sales nondurable goods
275. Change in business inventories,
A8. National Income Components
280 Compensation of employees

A9. Saving
290. Gross saving, private and government
292. Personal saving
294. Undistributed corporate profits plus
inventory valuation adjustment
296. Capital consumption allowances

5,67,85

'69
'69
'69
'69
'69
'69

17
17

5,68
5,68

Dec.
Dec.

«69
'69

Oct.
Oct.

'69
'69

17
17
17

5,68
5,68
5,68

Dec. '69
Dec. '69
Dec. '69

Oct.
Oct.
Oct.

'69
'69
'69

B. CYCLICAL INDICATORS
B1. Employment and Unemployment
18,36
*L Average workweek, prod, workers, mfg.
21. Avg. wkly. overtime hrs., prod, workers, mfg. 18
18
18
*5. Initial claims, State unemploy. insurance . . . 18,36
18
3 Layoff rate manufacturing
49.
46
48*.
*41.
42.
*/IQ
45.

Nonagricultural job openings unfilled
He ID* wanted advertising
Man-hours in nonagri. establishments
Employees on nonagri. payrolls
Persons engaged in nonagri. activities
llnomnlnumpnt fAfp tntfll
Avg. weekly insured unemploy. rate

*44. Unemploy. rate, 15 weeks and over

19
19
19
19,38
19
20,38
20
20
20,39

6,69
6,69
6,69
6,69
6,69
6,69
6,69
6,69
6,70
6,70
6,70
6,70
6,70
6,70
6,70

Aug.
Aug.

'70
'70

Aug.

'68

June '70 June '69
Aug.

Tables

'70

Aug.

'68

B2. Production, Income, Consumption, Trade
*200. GNP in current dollars
*205. GNP in 1958 dollars
*47. Industrial production
*52. Personal income
53. Wages, salaries in mining, mfg., constr . .
57 Final sales
*54 Sales of retail stores

••

9,21,38
9,21,38,56
21,38,63
21,38
.21
22,38
• 22
• 22,38

33. Fixed Capital Investment
*12 Index of net business formation
13 New business incorporations
*6 New orders durable goods industries

6,71
6,71
6,71
6,71
6,71

23,36
23
23,36
23
*10. Contracts and orders, plant, equipment . . .23,36

6,72
6,72
6,72
6,72
6,72

11. New capital appropriations, manufacturing . 24
24. New orders, mach. and equip, industries . .24
24
9. Constr. contracts, com. and indus
24
24,36
*29. New bldg. permits, private housing

6,72
6,72
6,73
6,73
6,73

96.
97.
*61.
69.

May

'69 Oct. '69
'69 Oct. '69
'70 Nov. '68
'70 July '68
'70 July '68
Feb. '69
'70
'70 July '68
'70

Feb.
Feb.
Apr.

'70
'70
'70

Sep. '68

Apr.

'70

Sep. '68

Aug.
Apr.
Feb.

'70
'70
«70

Sep.

6,65,71 Dec
6,65,71,87 Dec
6,71,99
Apr

6,73
Unfilled orders, durable goods industries .' 25
6,73
Backlog of capital approp., manufacturing . 25
7,73,79
Business expend., new plant and equip . . 25,39,40
.
Machinery and equipment sales and
25
7,73
business construction expenditures

Aug
Aug
May
Aug.

Apr.
Aug.
Apr.

'70
'70
'70

Sep. '68
Nov.

'68

Feb.

'70

Sep.

'684

B4. Inventories and Inventory Investment
245. Change in bus. inventories, all indus .... 12,26
26,37
37. Purchased materials, higher inventories .. 26'
20. Change in materials, supplies inventories . 26
26

7,66,74

Aug. 69

7,74
7,74
7,74
7,74

Feb.
Apr.
Feb.

Vendor performance, slower deliveries . . .27
Change in unfilled orders, dur. goods .... 27
Book value, mfg. and trade inventories . . .27,39
Book value, mfrs.' inven., finished goods . 27

7,74
7,74
7,74
7,74

'70
'70
May '70
Apr. '70

32.
25.
*71.
65.

B5. Prices, Costs, and Profits
*23 Industrial materials prices
*19 Stock prices 500 common stocks

'68

June '70
June '70 Apr. '69

May '70
'70
'70
'70

Feb.
Apr.

Oct. '69
Feb. '69
Sep. '68

Sep. '68
Feb. '69
Sep. '68

7,75
28,37
28,37,64 7,75
28,37
7,75

July '70 Apr. '69
July '70 May '69
July '68
Aug. '70

28
28
28,37

7,75
7,75
7,75

'70 July '68
June '70 Mar. '69
Nov. '68
Aug. '70

55. Wholesale prices, indus. commodities .... 29
58. Wholesale prices, manufactured goods. . . .29,55
68. Labor cost per unit of gross product,
29
29,39

7,75

7,75,86

June '69
June '69

June '69
June '69

7,75
7,75

Aug.
Aug.

'70
'70

July '68
Nov. '68

30
30
30
30,37

7,76
7,76
7,76
7,76

Oct.
Oct.

'69
'69

Aug. '68
Aug. '68

30
31
31
31

7,76
7,76
7,76
7,76

Feb.
Apr.
Feb.

'70

32
32
32
32

7,77
7,77
7,77
7,77

Mar.
Mar.
Mar.
Mar.

'70
'70
'70

7,77
8,77
8,77
8,77
8,77

'70
May '70
Feb. '70
Feb. '70
Mar. '70

July '64

.34

6,78
78

Aug.

'70

Nov. '68

34
34
35
35
35
35
35

6,78
6,78
6,78
6,78
6,78
6,78
6,78

Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.

'70
'70
«70
'70
'70
'70
'70
'70

Sep. '69
Nov. '68
Nov. '68

22. Ratio, profits to income originating,

B6. Money and Credit
98. Change in money supply and time deposits
*113. Change in consumer installment debt
110 Total private borrowing
14 Liabilities of business failures
93
114
116
115

Free reserves
Treasurv bill rate
Coroorate bond vields
Treasury bond yields

117
66
*72.
*67.
118.

32
Municipal bond yields
33
Consumer installment debt
33,39
Com. and industrial loans outstanding . . .
33,39
Bank rates on short-term bus. loans
33
Mortgage yields, residential

Aug.

July «70
May '70

July '64

'70
'70

July '64
July '64

June '70

'70'

Mar.

July '64
July '64
July '64
July '64

June '70 June ' 69
Aug.

'70

June '70
Oct.
Aug.
Aug.
Feb.
Feb.
Oct.
Feb.

«69
'70
'70
'70
'70
'69
'70

June '70

*Series preceded by an asterisk (*) are on the 1966 NBER 'short list" of indicators.




Charts

Series
Historical
descriptions
data
(issue date) (issue date)

B. CYCLICAL INDICATORS-Con.

A. NATIONAL INCOME AND PRODUCT
Al. Gross National Product
9flfl PWP in rnrrpnt rlnllars
?rm PNP in 1Q<$ dollars

Current issue
(page numbers)

Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series," following this index)

Aug.

'68

June '69
Aug.
Aug.

'68#

'68

June '69

B7. Composite Indexes
810. 12 leading indicators, reverse trend adj .
811. 12 leading indicators, prior to reverse
trend adjustment
820. 5 coincident indicators
830. 6 lagging indicators
813. Marginal employment adjustments
814. Capital investment commitments
815. Inventory investment and purchasing
816. Profitability
817. Sensitive financial flows

#The 'number" for this series title was changed since the publication date shown.

113

Series Finding Guide-Continued
(See table of contents (page i) for chart and table titles)
Current issue
(page numbers)

Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series, " following this index)

Charts

Tables

Series
Historical
data
descriptions
(issue date) (issue date)

Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series," following this index)

Charts

Tables

Series
Historical
data
descriptions
(issue date) (issue date)

D. OTHER KEY INDICATORS-Con.

C. ANTICIPATIONS AND INTENTIONS
Cl. Aggregate Series
61. Bus. expend, new plant and equip

412. Mfrs ' inventories book value

420,
425,
430
435

Current issue
(page numbers)

Household income compared to year ago
Probability of change, household income . .
New cars ourchased bv households « « • • • « • •
Index of consumer sentiment

25,39,40
41
41
41
41

73,79
79
79
79
79

42

79
79
79
79

. 42
42
42

'70
'70
'70
'70
'70

Nov.
'68
Nov.
'68
Nov. '68
Nov.
'68
Nov. '68

June '70
Apr. '70

Nov. '68
Nov. '68
Nov. '68
Nov. '68

Apr.
Apr.
Apr.
Apr.
Apr.

D4. Price Movements
781 Consumer price index
782. Consumer price index
783 Consumer price index
784. Consumer price index
750.
58..
751.
752

Wholesale
Wholesale
Wholesale
Wholesale

54,62
54
54
54

all items
food
commodities
services

price index, all commodities . .
price index mfd. goods
price index, proc. foods, feeds. .
price index farm products ....

.55
29,55
55
55

8,86

86
86
86
8,86

86,75
86
86

May
May
May
May

June
June
June
June

'69
'69
'69
'69

May
May
May
May

'69
'69
'69
'69

'69
' 69
' 69
'69

June
June
June
June

'69
'69
' 69
'69

'69

Oct.

'69

Dec. '69
May '70

Feb.

'69

E. ANALYTICAL MEASURES
C2. Diffusion Indexes
D440. New orders, manufacturing
D442. Net profits, manufacturing and trade
D446. Number of employees, mfg. and trade
D450. Level of inventories, mfg. and trade
D460 Selling prices mfg and trade
D464. Selling prices, wholesale trade
D466 Sellins prices retail trade • « •

••

D480. Freight carloadings

•«

43
43
43
43

80
80
80
80

June
June
June
June

'70
'70
'70
'70

Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68

44
44
44
44
44

80
80
80
80
80

June
June
June
June
June

'70
'70
'70
'70
'70

Nov.
Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68
'68

45
45
45

81
81
81

Apr. '70
Aug. '70

June '70

Nov.
'68
Nov. '68
Nov. '68

D. OTHER KEY INDICATORS
Dl. Foreign Trade
500. Merchandise trade balance
502. Exports, excluding military aid
506. Export orders, dur. goods exc. motor
vehicles
508. Export orders, nonelectrical machinery
D2. Balance of Payments and Components
520 U S bal ofpmts. liquidity bal. basis

46
46

8,82
8,82

July '70
July '70

46
46
46

8,82
8,82
8,82

Feb.
Apr.

47

8,83

Aug.

'70

May '69

47

8,83

Aug.
Aug.

'70
'70

May '69
May '69

May '69
May '69

'70 Aug. '68$
'69
July '70 May '69

522. U.S. bal. of pmts., official settlements
525. Net capital movements, liquidity bal. basis. . 47
527. Net capital movements, official settlements
250. Balance on goods and services
530 Liquid liabilities to foreigners
532. Liquid and nonliquid liabilities to foreign
534
535.
252.
253.

U S official reserve assets
Allocations of SDR's
Exports of goods and services
Imports of goods and services.

537. Merchandise imports, adjusted
540. Investment income, military sales, and

83

47
13,47

83
83

Aug.

'70
July '69

May '69
May '69

48

83

Aug. '70

May '69

48
48

Aug. '70
Aug.
'70

May '69
May '69

13,49
13,49

83
83
83
83
83

July '69
July '69

May '69
May '69

49
49

83
83

Aug.
Aug.

'70
'70

May '69
May '69

49

83

Aug.

'70

May '69

541. Foreigners' investment income, military
expend and services imports .......... 49
50
542. Income on U.S. investments abroad
50
543. Income on foreign investments in U.S

83
84
84

'70
July '69
July '69

May '69
May '69
May '69

50
50
50
50
50
50

84
84
84
84
84
84

July
July
July
July
July
July

'69 May '69
'69 May '69
'69 May '69
'69 May '69
'69 May '69
'69 May '69

51
51
51
51
51
51

84
84
84
84
84
84

July
July
July
July
July
July

'69
'69
'69
'69
'69
'69

8,85
8,85
8,85

Aug. »70
Aug. '70
Aug.
'70
Dec. '69
Oct. '69
Oct. '69
Dec.
'69

545. Payments by U.S. travelers abroad
547.
546.
548.
549.

U.S. military expenditures abroad
Military sales to foreigners
Receipts, transportation and services
Payments, transportation and services

565 U S purchases of foreign securities. . .
564 Foreign purchases of U.S. securities
575. Banking and other capital transactions

D3. Federal Government Activities
600. Fed. balance, nat'l income and prod. acct. . .52
601. Fed. receipts, nat'l income and prod, acct . .52
602. Fed. expend., nat'l income and prod. acct. . . 52
621. Defense Dept. obligations, procurement
647. New orders, defense products industries
648 New orders defense products

14,53
53
53
53
. « 53
53

8,67,85
8,85
8,85
8,85
8,85
8,85

Aug.

Dec.

#The "number" for this series title was changed since the publication date shown.

114



'69

El. Actual and Potential GNP
9ft£

Artual PNP in 1QKQ rlnllarc

9,21,38,56 6,65,71,87 Dec.
56
87
56
5,87

206. Potential GNP in 1958 dollars
207. GNP gap (potential less actual)
E2. Analytical Ratios

850. Ratio, output to capacity, manufacturing. . . 57
851. Ratio, inventories to sales, mfg. and trade . 57
852. Ratio, unfilled orders to shipments,
853. Ratio, prod, of bus. equip, to consumer
goods
•• . .. ... .
854. Ratio, personal saving to disposable

8,88
8,88

57

8,88

Apr.

'70

Sep.

'68

57

8,88

Apr.

'70

Nov.

'68

58

8,88

Aug.

'70

July '68

8,88
8,88
8,88

Feb.
Aug.
Aug.

'70
'69
'70

June '68
June '68

8,88
8,88

Aug.
Feb.

'70
'70

59
59
59
59
59
59
59

89,92
89,92
89
90
90,93
90,94
90,94

Nov.
'69
Apr. '70
Aug.
'70
Feb. '70
Apr. '69
Apr. '69
Apr. '69

60

91,95
91,95
91,96
91,97

'69
May '70
June '69
Nov.
'69

855. Ratio, nonagricultural job openings
58
unfilled to persons unemploved
858. Output per man-hour, total private nonfarm . 58
856. Real avg. hourly earnings, prod, workers . . 58
859. Real spendable average weekly earnings,
nonagri. production or nonsupv. workers. . *58
58
857 Vacancy rate total rental housing

June '68

E3. Diffusion Indexes

Dl.
D6.
Dll.
D34
C19.
D23.
D5.

Average workweek, prod, workers, mfg ....
New orders, durable goods industries
New capital appropriations, mfg
Profits manufacturing
•
•
Stock prices, 500 common stocks
Industrial materials prices
Initial claims, State unemploy. insurance. .

D41. Employees on nonagri. payrolls
D47 Industrial production* .....
..
D58. Wholesale prices, manufactured goods

.. 60

E5. Rates of Change
200. GNP in current dollars
205. GNP in constant dollars
820. Composite index of 5 coincident indicators.
48. Man-hours in nonagri. establishments
47. Index of industrial production
55. Index of whsle. prices, indus. commodities
781. Index of consumer prices, all items

60
60
61
61
61
61
61
61
61
61
61

May '69
Apr. '69
June '69

Nov.

Dec.
Dec.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.

'69
'69
'70
'70
'70
'70
'70
'70
'70

June '69

Oct.
Oct.
Nov.
Aug.

69
69
68
68 #

July 68
68
June 69
May '69
Nov.

F. INTERNATIONAL COMPARISONS

May
May
May
May
May
May

'69
'69
'69
'69
'69
'69

Fl. Consumer Price Indexes
781. United States
133. Canada
132. United Kingdom
135. West Germany
136. France
138. Japan
137. Italy

98
98
98
98
98
98
98

May '69
Apr. '70
Apr. '70
Apr. '70
Apr. '70
Apr. '70
Apr. '70

21,38,63
63
63
63
63
63
63
63

99
99
99
99
99
99
99
99

Apr.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.

'70
'69
'69
'69
'69
'69
'69
'69

Nov.

28,37,64
64
64
64
64
64
64

100
100
100
100
100
100
100

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.

'70
'70
'70
'70
'70
'70
'70

May '69

May '69

F2. Industrial Production Indexes

47.
123
122
126.
125
128.
121.
127.

United States
Canada
United Kingdom
France
West Germany
Japan
OECD European countries
Italy

July '68#
July '68# F3. Stock Price Indexes
July '68#
19. United States
Oct. '69
143 Canada
Sep."'*68#

54,62
62
62
62
62
62
62

142 United Kingdom
146. France
145 West Germany
147. Italy

'68

Titles and Sources of Series
Within each of the six sections, series are listed in numerical order.
The numbers assigned to the series are for identification purposes
only and do not reflect series relationships or order. "M" indicates
monthly series; "Q" indicates quarterly series. Data apply to the
whole period except for series designated by "EOM" (end of the
month) or "EOQ" (end of the quarter).
The alphabetic-numeric designations following the series titles indicate all charts and tables in which the series may be found. See the
table of contents for chart and table titles and Series Finding Guide
for page numbers. The series in section B preceded by an asterisk
(*) are included in the 1966 NBER "short list" of indicators, chart
B8. Unless otherwise indicated, all series which require seasonal
adjustment have been adjusted by their source.
The "D" preceding a number indicates a diffusion index. Diffusion
indexes and corresponding aggregate series bear the same number and
are obtained from the same sources.

244. Gross private domestic fixed investment, residential structures
(Q). -- Department of Commerce, Office of Business Economics
(A4)

245. Gross private domestic investment, change in business inventories after valuation adjustment, all industries (Q). - Department of Commerce, Office of Business Economics
(A4, B4)
250. Balance on goods and services, excluding transfers under
military grants (Q). -- Department of Commerce, Office of
Business Economics
(A5, D2)
252. Exports of goods and services, excluding transfers under
military grants (Q). -- Department of Commerce, Office of
Business Economics
(A5, D2)
253. Imports of goods and services (Q). -- Department of Commerce,
Office of Business Economics
(A5, D2)
260. Government purchases of goods and services, total (Q). -Department of Commerce, Office of Business Economics
(A6)

A National Income and Product
200. Gross national product in current dollars (Q). -- Department of
Commerce, Office of Business Economics
(Al, B2, B8, E5)
205. Gross national product in 1958 dollars (Q). -- Department of
Commerce, Office of Business Economics (Al, B2, B8, El, E5)
210. Implicit price deflator, gross national product (Q). -- Department of Commerce, Office of Business Economics
(Al)
215. Per capita gross national product in current dollars (Q). -Department of Commerce, Office of Business Economics and
Bureau of the Census
(Al)
217. Per capita gross national product in 1958 dollars (Q). -- Department of Commerce, Office of Business Economics and Bureau
of the Census
(Al)
220. National income in current dollars (Q). -- Department of Com
merce, Office of Business Economics
(A2)
222. Personal income in current dollars (Q). -- Department of Com
merce, Office of Business Economics
(A2)
224. Disposable personal income in current dollars (Q). -- Department
of Commerce, Office of Business Economics
(A2)
225. Disposable personal income in 1958 dollars (Q). -• Department
of Commerce, Office of Business Economics
(A2)
226. Per capita disposable personal income in current dollars (Q). -Department of Commerce, Office of Business Economics
(A2)
227. Per capita disposable personal income in 1958 dollars (Q). -Department of Commerce, Office of Business Economics
(A2)
230. Personal consumption expenditures, total, in current dollars
(Q). -- Department of Commerce, Office of Business Economics
(A3)

231. Personal consumption expenditures, total, in 1958 dollars (Q). -Department of Commerce, Office of Business Economics
(A3)

262. Federal Government purchases of goods and services, total
(Q). -- Department of Commerce, Office of Business Economics
(A6)

264. Federal Government purchases of goods and services, national
defense (Q). •- Department of Commerce, Dffice of Business
Economics
(A6, D3)

271. Change in business inventories, durable goods (Q). --Department of Commerce, Office of Business Economics
(A7)

14. Current liabilities of business failures (M). - Dun and Bradstreet, Inc.
(B6)

274. Final sales, nondurable goods (Q). -- Department of Commerce,
Office of Business Economics
(A7)

15. Profits (after taxes) per dollar of sales, all manufacturing
corporations (Q). -- Federal Trade Commission and Securities
and Exchange Commission; seasonal adjustment by Bureau of
the Census
(B5)

275. Change in business inventories, nondurable goods (Q).. Depart
nent of Commerce, Office of Business Economics
(A7)
280. Compensation of employees (Q). -- Department of Commerce,
Office of Business Economics
(A8)

*16. Corporate profits after taxes (Q)o -- Department of Commerce,
Office of Business Economics
(B5, B8)

282. Proprietors' income (Q). -- Department of Commerce, Office of
Business Economics
(A8)

*17. Index of price per unit of labor cost - ratio, index of
wholesale prices of manufactured goods (unadjusted) to
seasonally adjusted index of compensation of employees
(sum of wages, salaries, and supplements to wages and
salaries) per unit of output (M). -- Department of Commerce,
Office of Business Economics; Department of Labor, Bureau
of Labor Statistics; and Board of Governors of the Federal
Reserve System
(B5, B8)

284. Rental income of persons (Q). --Department of Commerce, Office
of Business Economics
(A8)
286. Corporate profits and inventory valuation adjustment (Q). -Department of Commerce, Office of Business Economics
(A8)
288. Net interest (Q). -- Department of Commerce, Office of Business
Economics
(A8)
290. Gross saving -- private saving plus government surplus or
deficit (Q). -- Department of Commerce, Office of Business
Economics
(A9)

234. Personal consumption expenditures, automobiles, in current
dollars (Q). -- Department of Commerce, Office of Business
Economics
(A3)

2%. Capital consumption allowances, corporate and noncorporate
(Q). -- Department of Commerce, Office of Business Economics

236. Personal consumption expenditures, nondurable goods, in
current dollars (Q). -- Department of Commerce, Office of
Business Economics
(A3)

298. Government surplus or deficit, total (Q). -- Department of
Commerce, Office of Business Economics
(A9)

242. Gross private domestic fixed investment, nonresidential structures (Q). -- Department of Commerce, Office of Business
Economics
(A4)
243. Gross private domestic fixed investment, producers' durable
equipment (Q). -- Department of Commerce, Office of Business
Economics
(A4)




11. Newly approved capital appropriations, 1,000 manufacturing
corporations (Q).--National Industrial Conference Board (B3,E3)

13. Number of new business incorporations (M). -- Dun and Bradstreet, Inc.; seasonal adjustment by Bureau of the Census and
National Bureau of Economic Research, Inc.
(B3)

294. Undistributed corporate profits plus inventory valuation adjustment (Q). -- Department of Commerce, Office of Business
Economics
(A9)

(A4)

*10. Contracts and orders for plant and equipment (M). - Department of Commerce, Bureau of the Census, and McGraw-Hill
Information Systems Company; seasonal adjustment by Bureau
of the Census and National Bureau of Economic Research,
Inc.
(B3, B8)

270. Final sales, durable goods (Q). -- Department of Commerce,
Office of Business Economics
(A7)

233. Personal consumption expenditures, durable goods except
automobiles, in current dollars (Q). -- Department of Commerce,
Office of Business Economics
(A3)

241. Gross private domestic fixed investment, total nonresidential
(Q). -- Department of Commerce, Office of Business Economics

9. Construction contracts awarded for commercial and industrial
buildings, floor space (M). - McGraw-Hill Information Systems
Company; seasonal adjustment by Bureau of the Census and
National Bureau of Economic Research, Inc.
(Used by permission. This series may not be reproduced without written
permission from the source.)
(B3)

*12. Index of net business formation (M). -- Dun and Bradstreet,
Inc., and Department of'Commerce, Bureau of the Census; seasonal adjustment by Bureau of the Census and National Bureau
of Economic Research, Inc.
(B3, B8)

292. Personal saving (Q). -- Department of Commerce, Office of
Business Economics
(A9)

240. Gross private domestic investment, total (Q). - Department of
Commerce, Office of Business Economics
(A4)

*6. Value of manufacturers' new orders, durable goods industries
(M). --Department of Commerce, Bureau of the Census
(B3, B8, E3, E4)
8. Index of construction contracts, total value (M). - McGrawHill Information Systems Company.
(Used by permission.
This series may not be reproduced without written permission
from the source.)
(B3)

266. State and local government purchases of goods and services,
total (Q). -- Department of Commerce, Office of Business
Economics
(A6)

232. Personal consumption expenditures, durable goods, in current
dollars (Q). -- Department of Commerce, Office of Business
Economics
(A3)

237. Personal consumption expenditures, services, in current
dollars (Q). -- Department of Commerce, Office of Business
Economics
(A3)

*5. Average weekly initial claims for unemployment insurance,
State programs (M). -- Department of Labor, Manpower Administration; seasonal adjustment by Bureau of the Census
(Bl, E3, E4)

(A9)

B Cyclical Indicators
*1. Average workweek of production workers, manufacturing (M). -Department of Labor, Bureau of Labor Statistics
(Bl, B8, E3, E4)
2. Accession rate, manufacturing (M). -- Department of Labor,
Bureau of Labor Statistics
(Bl)
3. Layoff rate, manufacturing (M). -- Department of Labor, Bureau
of Labor Statistics
(Bl)
4. Nonagricultural placements, all industries (M). - Department
of Labor, Manpower Administration; seasonal adjustment by
Bureau of the Census
(Bl, B8)

*19. Index of stock prices, 500 common stocks (M). - Standard and
Poor's Corporation
(B5, BB, E3, E4, F3)
20. Change in book value of manufacturers' inventories of materials
and supplies (M). •- Department of Commerce, Bureau of the
the Census
(B4)
21. Average weekly overtime hours of production workers, manufacturing (M). •• Department of Labor, Bureau of Labor Statistics

(Bl)
22. Ratio of profits (after taxes) to income originating, corporate,
all industries (Q). -- Department of Commerce, Office of Business Economics
(B5)
*23. Index of industrial materials prices (M). -- Department of Labor,
Bureau of Labor Statistics
(B5, B8, E3, E4)
24. Value of manufacturers' new orders, machinery and equipment
industries (M). -- Department of Commerce, Bureau of the
Census
(B3)
25. Change in manufacturers' unfilled orders, durable goods industries (M). -- Department of Commerce, Bureau of the Census
(B4)

26. Buying policy - production materials, percent of companies
reporting commitments 60 days or longer (M). - National
Association of Purchasing Management
(B4)
28. New private housing units started, total (M). - Department of
Commerce, Bureau of the Census
(B3)
*29. Index of new private housing units authorized by local building
permits (M). -- Department of Commerce, Bureau of the Census
(B3, B8)
*31. Change in book value of manufacturing and trade inventories,
total (M). -• Department of Commerce, Office of Business Economics and Bureau of the Census
(B4, B8)

Continued on reverse

115

Titles and Sources of Series
(Continued from page 115)
32. Vendor performance, percent of companies reporting slower
deliveries (M). -- Purchasing Management Association of
Chicago
(B4)
33. Net change in mortgage debt held by financial institutions and
life insurance companies (M). -- Institute of Life Insurance;
Federal National Mortgage Association; Department of Housing
and Urban Development, Government National Mortgage Association; National Association of Mutual Savings Banks; U.S.
Savings and Loan League; and Board of Governors of the
Federal Reserve System; seasonal adjustment by Bureau of
the Census.
(B6)
37. Percent of companies reporting higher inventories of purchased materials (M). -• National Association of Purchasing
Management; seasonal adjustment by Bureau of the Census
(B4)

68. Labor cost (current dollars) per unit of gross product (1958
dollars), nonfinancial corporations - ratio of current-dollar
compensation of employees to gross corporate product in
1958 dollars (Q). - Department of Commerce, Office of
Business Economics
(B5)
69. Manufacturers' machinery and equipment sales and business
construction expenditures (industrial and commercial construction put in place) (M). -- Department of Commerce, Bureau of
the Census
(B3)
*71. Manufacturing and trade inventories, total book value (EOM). -Department of Commerce, Office of Business Economics and
Bureau of the Census
(B4, B8)
*72. Commercial and industrial loans outstanding, weekly reporting
large commercial banks (EOM). -- Board of Governors of the
Federal Reserve System; seasonal adjustment by Bureau of
the Census
(B6, B8)
85. Percent change in total U.S. money supply (demand deposits
plus currency) (M). -- Board of Governors of the Federal
Reserve System
(B6)

39. Percent of consumer installment loans delinquent 30 days and
over (EOM). •- American Bankers Association; seasonal adjustment by Bureau of the Census and National Bureau of Economic
Research, Inc. (Bimonthly since December 1964)
(B6)

93. Free reserves (member bank excess reserves minus borrowings) (M). -- Board of Governors of the Federal Reserve System

40. Unemployment rate, married males, spouse present (M). Department of Labor, Bureau of Labor Statistics, and Department of Commerce, Bureau of the Census
(Bl)

97. Backlog of capital appropriations, manufacturing (EOQ). -National Industrial Conference Board
(B3)
98. Percent change in total U.S. money supply (demand deposits
plus currency) and commercial bank time deposits (M). -Board of Governors of the Federal Reserve System
(B6)

*41. Number of employees on nonagricultural payrolls, establishment
survey (IKI). -• Department of Labor, Bureau of Labor Statistics
(Bl, B8, E3, E4)
42. Total number of persons engaged in nonagricultural activities,
labor force survey (M). — Department of Labor, Bureau of Labor
Statistics, and Department of Commerce, Bureau of the Census

(Bl)
*43. Unemployment rate, total (M). - Department of Labor, Bureau
of Labor Statistics, and Department of Commerce, Bureau of
the Census
(Bl, B8)
*44. Unemployment rate, 15 weeks and over (M). -- Department of
Labor, Bureau of Labor Statistics, and Department of Commerce,
Bureau of the Census
.(Bl, B8)
45. Average weekly insured unemployment rate, State programs
(M)- -- Department of Labor, Manpower Administration
(Bl)
46. Index of help-wanted advertising in newspapers (M). -- National
Industrial Conference Board
(Bl)
*47, Index of industrial production (M). -- Board of Governors of the
Federal Reserve System
(B2, B8, E3, E4, E5, F2)
48. Man-hours in nonagricultural establishments (M). -- Department
of Labor, Bureau of Labor Statistics
(Bl, E5)

(B6)
96. Manufacturers' unfilled orders, durable goods industries
(EOM). -- Department of Commerce, Bureau of the Census (B3)

110. Total funds raised by private nonfinancial borrowers in credit
markets (Q). -- Board of Governors of the Federal Reserve
System
(B6)
112. Net change in bank loans to businesses (M). -- Board of
Governors of the Federal Reserve System; seasonal adjustment by Bureau of the Census
(B6)
*113. Net change in consumer installment debt (M). Governors of the Federal Reserve System

Board of
(B6, B8)

114. Discount rate on new issues of 91-day Treasury bills (M). -Board of Governors of the Federal Reserve System
(B6)

(B6)
116. Yield on new issues of high-grade corporate bonds (M). -- First
National City Bank of New York and Treasury Department(B6)
117. Yield on municipal bonds, 20-bond average (M). - The Bond
Buyer
(B6)
118. Secondary market yields on FHA mortgages (M). -- Department
of Housing and Urban Development, Federal Housing Administration
(B6)
*200. Gross national product in current dollars (Q). See in section A.

*52. Personal income (M). -- Department of Commerce, Office of
Business Economics
(B2, B8, E5)

245. Change in business inventories (GNP component) (Q). See
in section A.

*205. Gross national product in 1958 dollars (Q).

See in section A.

810. Twelve leading indicators - reverse trend adjusted composite
index (includes series 1, 5, 6, 10, 12, 16, 17, 19, 23, 29, 31,
and 113) (M). - Department of Commerce, Bureau of the Census
(B7)

*54. Sales of retail stores (M). - Department of Commerce, Bureau
of the Census
(B2, B8, E3, E4, E5)
55. Index of wholesale prices, industrial commodities (M).- Department of Labor, Bureau of Labor Statistics
(B5, E5)
*56. Manufacturing and trade sales (M). -- Department of Commerce,
Office of Business Economics and Bureau of the Census
(B2, B8)
57. Final sales (series 200 minus series 245) (Q). - Department of
Commerce, Office of Business Economics
(B2)
58. Index of wholesale prices, manufactured goods (M). - • Department of Labor, Bureau of Labor Statistics
(B5, D4, E3, E4)
*61. Business expenditures for new plant and equipment, total (Q).-Department of Commerce, Office of Business Economics, and
the Securities and Exchange Commission
(83, B8, Cl, C2)
*62. Index of labor cost per unit of output, total manufacturing -ratio, index of compensation of employees in manufacturing
(the sum of wages and salaries and supplements to wages
and salaries) to index of industrial production, manufacturing
(M). -- Department of Commerce, Office of Business Economics,
and the Board of Governors of the Federal Reserve System
(B5, B8)
65. Manufacturers' inventories of finished goods, book value, all
manufacturing industries (EOM). — Department of Commerce,
Bureau of the Census
(B4)
66. Consumer installment debt (EOM). -- Board of Governors of the
Federal Reserve System. FRS seasonally adjusted net change
added to seasonally adjusted figure for previous month to obtain
current figure
(B6)
*67. Bank rates on short-term business loans, 35 cities (Q). Board of Governors of the Federal Reserve System
(B6, B8)

116



(Cl)
412. Manufacturers' inventories, total book value (EOQ). - Department of Commerce, Bureau of the Census and Office of Business Economics
(Cl)
414. Percent of total book value of inventories held by manufacturers classifying their holdings as higi, less percent classifying holdings as low (EOQ). - Department of Commerce, Off ice
of Business Economics
(Cl)
416. Percent of total gross capital assets held by companies classifying their existing capacity as inadequate for prospective
operations over the next 12 months, less percent classifying
existing capacity as excessive (EOQ). - Department of Commerce, Office of Business Economics
(Cl)
420. Current income of households compared to income a year ago
(percent higher, lower, and unchanged) (Q). - Department of
Commerce, Bureau of the Census
(Cl)
425. Mean probability (average chances in 100) of substantial
changes (increase, decrease, and increase less decrease) in
income of households (Q). -- Department of Commerce, Bureau
of the Census
(Cl)
430. Number of new cars purchased by households (Q).-- Department
of Commerce, Bureau of the Census
(Cl)
435. Index of consumer sentiment (Q).
Survey Research Center

University of Michigan,
(Cl)

D440. New orders, manufacturing (Q). - Dun and Bradstreet, Inc.
(Used by permission. This series may not be reproduced without written permission from the source.)
(C2)
D442. Net profits, manufacturing and bade (Q). -- Dun and Bradstreet,
Inc. (Used by permission. This series may not be reproduced
without written permission from v the source.)
(C2)
D444. Net sales, manufacturing and trade (Q). - Dun and Bradstreet,
Inc. (Used by permission. This series may not be reproduced
without written permission from the source.)
(C2)

115. Yield on long-term Treasury bonds (M). -- Treasury Department

49.Nonagricultural job openings unfilled (EOM). --Department of
Labor, Manpower Administration; seasonal adjustment by Bureau
of the Census
(Bl)

53. Wage and salary income in mining, manufacturing, and construction (M). -- Department of Commerce, Office of Business Economics
(B2)

410. Manufacturers' sales, total value (Q). - Department of Commerce, Bureau of the Census and Office of Business Economics

811. Twelve leading indicators - composite index prior to reverse
trend adjustment (includes series 1, 5, 6, 10, 12, 16, 17, 19,
23, 29, 31, and 113) (M). - Department of Commerce, Bureau of
the Census
(B7)
813. Marginal employment adjustments - leading composite index
(includes series 1, 2, 3, and 5) (M). - Department of Commerce,
Bureau of the Census
(B7)
814. Capital investment commitments -- leading composite index
(includes series 6, 10, 12t and 29) (M). - Department of
Commerce, Bureau of the Census
(B7)
815. Inventory investment and purchasing - leading composite
index (includes series 23, 25, 31, and 37) (M). - Department
of Commerce, Bureau of the Census
(B7)
816. Profitability - leading composite index (includes series 16,
17, and 19) (M). - Department of Commerce, Bureau of the
Census
(B7)
817. Sensitive financial flows - leading composite index (includes
series 33, 85,112, and 113) (M). - Department of Commerce,
Bureau of the Census
(B7)
820. Five coincident indicators -- composite index (includes series
41, 43, 47, 52, and 56) (M). -- Department of Commerce, Bureau
of the Census
(B7, E5)
830. Six lagging indicators -- composite index (includes series 44,
61, 62, 67, 71, 72) (M). -- Department of Commerce, Bureau of
the Census
(B7)

C Anticipations and Intentions
61. Business expenditures for new plant and equipment, all industries (Q). See in section B.

D446. Number of employees, manufacturing and trade (Q). -- Dun and
Bradstreet, Inc. (Used by permission. This series may not be
reproduced without written permission from the source.)
(C2)
D450. Level of inventories, manufacturing and trade (Q). - Dun and
Bradstreet, Inc. (Used by permission. This series may not be
reproduced without written permission from the source.)
(C2)
D460. Selling prices, manufacturing and trade (Q). - Dun and Bradstreet, Inc. (Used by permission. This series may not be
reproduced without written permission from the source.)
(C2)
D462. Selling prices, manufacturing (Q). -- Dun and Bradstreet, Inc.
(Used by permission. This series may not be reproduced without written permission from the source.)
(C2)
D464. Selling prices, wholesale trade (Q). - Dun and Bradstreet,
Inc. (Used by permission. This series may not be reproduced
without written permission from the source.)
(C2)
D466. Selling prices, retail trade (Q). - Dun and Bradstreet, Inc.
(Used by permission. This series may not be reproduced without written permission from the source.)
(C2)
D480. Freight carloadings (Q). -- Association of American Railroads

(C2)
480. Change in freigit carloadings (Q).
railroads

• Association of American
(C2)

D Other Key Indicators
58. Index of wholesale prices, manufactured goods (M).
section B.

See in

250. Balance on goods and services, excluding transfers under
military grants: U.S. balance of payments (Q). -- See in
section A.
252. Exports of goods and services, excluding transfers under military grants; U.S. balance of payments (Q). - See in section

253. Imports of goods and services:
(Q).--See in section A.

U.S. balance of payments

264. Federal Government purchases of goods and services, national
defense (Q). -- See in section A.

500. Merchandise trade balance (Series 502 minus series 512) (M).-Department of Commerce, Bureau of the Census
(Dl)
502. Exports, excluding military aid shipments, total (M). - Department of Commerce, Bureau of the Census
(Dl)

Titles and Sources of Series
(Continued from page 116)
506. Manufacturers' new orders for export, durable goods except
motor vehicles and parts (M). -• Department of Commerce,
Bureau of the Census
(Dl)
508. Index of export orders for nonelectrical machinery (M). -McGraw-Hill, Department of Economics; seasonal adjustment by
Bureau of the Census
(Dl)

564. Foreign purchases of U.S. securities: U.S. balance of payments (Q). -- Department of Commerce, Office of Business
Economics
(02)

854. Ratio, personal saving to disposable personal income (series
292 divided by series 224) (Q). -- Department of Commerce,
Office of Business Economics
(E2)

565. U.S. purchases of foreign securities: U.S. balance of payments (Q). -- Department of Commerce, Office of Business
Economics
(02)

855. Ratio, nonagricultural job openings unfilled (series 49) to
number of persons unemployed (M). -- Department of Labor,
Manpower Administration and Bureau of Labor Statistics; and
Department of Commerce, Bureau of the Census
(E2)

570. Government grants and capital transactions, net: U.S. balance
of payments (Q). -- Department of Commerce, Office of Business Economics
(D2)

512. General imports, total (M). -- Department of Commerce, Bureau
of the Census
(Dl)

575. Banking and other capital transactions, net: U.S. balance of
payments (Q). -- Department of Commerce, Office of Business
Economics
(D2)

856. Real average hourly earnings of production workers in manufacturing, 1957-59 dollars (M). -- Department of Labor, Bureau
of Labor Statistics
(E2)
857. Vacancy rate in rental housing -- unoccupied rental housing
units as a percent of total rental housing (Q). -- Department
of Commerce, Bureau of the Census
(E2)

520. U.S. balance of payments on liquidity balance basis (change in
U.S. official reserve assets and change in liquid liabilities to
all foreigners) (Q). -- Department of Commerce, Office of
Business Economics
(D2)

600. Federal Government surplus or deficit, national income and
product accounts (Q). -- Department of Commerce, Office of
Business Economics
(D3)

858. Index of output per man-hour, total private nonfarm (Q). - Department of Labor, Bureau of Labor Statistics
(E2)

522. U.S. balance of payments on official settlements basis (change
in U.S. official reserve assets, and change in liquid and
certain nonliquid liabilities to foreign monetary official
agencies) (Q). -- Department of Commerce, Office of Business
Economics
(D2)
525. Net capital movements (plus unilateral transfers -- except
military grants -- and errors and omissions) on liquidity
balance basis: U.S. balance of payments (Q). -- Department of
Commerce, Office of Business Economics
(D2)
527. Net capital movements (plus unilateral transfers •- except
military grants -- and errors and omissions) on official settlements basis: U.S. balance of payments (Q). -- Department of
Commerce, Office of Business Economics
(D2)
530. Liquid liabilities (excluding military grants) to all foreigners,
total outstanding: U.S. balance of payments (EOQ). -- Depart
ment of Commerce, Office of Business Economics
(D2)
532. Liquid and certain nonliquid liabilities (excluding military
grants) to foreign official agencies, total outstanding: U.S.
balance of payments (EOQ). -- Department of Commerce, Office
of Business Economics
(D2)
534. U.S. official reserve (assets) position, excluding military
grants: U.S. balance of payments (EOQ). -- Department of
Commerce, Office of Business Economics
(D2)
535. Allocations to the U.S. of Special Drawing Rights: U.S. balance
of payments (Q). - Department of Commerce, Office of Business
Economics
(D2)
536. Merchandise exports, adjusted, excluding military grants: U.S.
balance of payments (Q). -- Department of Commerce, Office of
Business Economics
(D2)
537. Merchandise imports, adjusted, excluding military: U.S. balance
of payments (Q).-- Department of Commerce, Office of Business
Economics
(D2)
540. U.S. investment income, military sales, and other services
exports, excluding military grants: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics

(D2)
541. Foreigners' investment income, military expenditures and other
services imports: U.S. balance of payments (Q). -- Department
of Commerce, Office of Business Economics
(D2)
542. Income on U.S. investments abroad: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics
(D2)

543. Income on foreign investments in the U.S.: U.S. balance of payments (Q). -- Department of Commerce, Office of Business
Economics
(D2)
544. Receipts from foreign travelers in the U.S.: U.S. balance of
payments (Q). -- Department of Commerce, Office of Business
Economics
(D2)
545. Payments by U.S. travelers abroad: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics

(D2)
546. Military sales to foreigners: U.S. balance of payments (Q). -Department of Commerce, Office of Business Economics (D2)
547. U.S. military expenditures abroad: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics

(D2)
548. Receipts for transportation and other services: U.S. balance
of payments (Q). -- Department of Commerce, Office of Business
Economics
(02)
549. Payments for transportation and other services: U.S. balance
of payments (Q).-- Department of Commerce, Office of Business
Economics
(D2)
560. Foreign direct investments in the U.S.: U.S. balance of payments (Q). -- Department of Commerce, Office of Business
Economics
(D2)
561. U.S. direct investments abroad: U.S. balance of payments (Q). -Department of Commerce, Office of Business Economics
(02)




601. Federal Government receipts, national income and product
accounts (Q).-- Department of Commerce, Office of Business
Economics
(03)
602. Federal expenditures, national income and product accounts
(Q). -- Department of Commerce, Office of Business Economics

859. Real spendable average weekly earnings of production or nonsupervisory workers (with 3 dependents) on private nonagricultural payrolls, 1957-59 dollars (M). -- Department of Labor,
Bureau of Labor Statistics
(E2)

(D3)
616. Defense Department obligations incurred, total, excluding
military assistance (M). -- Department of Defense, Fiscal
Analysis Division; seasonal adjustment by Bureau of the
Census
(D3)
621. Defense Department obligations incurred, procurement (M). -Department of Defense, Fiscal Analysis Division; seasonal
adjustment by Bureau of the Census
(D3)
625. Military prime contract awards to U.S. business firms and
institutions (M). -- Department of Defense, Directorate for
Statistical Services; seasonal adjustment by Bureau of the
Census
(03)

The "D" preceding a number indicates a diffusion index. Diffusion
indexes and corresponding aggregate series bear the same number
and are obtained from the same sources. See section B for titles
and sources of Dl, D5, D6, Oil, 019, D23, D41, D47, D54, D58, D61,
and section C for D440, D442, 0444, D446, D450, D460, D462, D464,
D466, and D480. Sources for other diffusion indexes are as follows:
034. Profits, manufacturing, FNCB (Q). - First National City Bank
of New York; seasonal adjustment by Bureau of the Census
and National Bureau of Economic Research, Inc.
(E3)

F International Comparisons

647. New orders, defense products industries (M). -- Department of
Commerce, Bureau of the Census
(D3)

19. United States, index of stock prices, 500 common stocks (M).
See in section B.

648. New orders, defense products (M). -- Department of Commerce,
Bureau of the Census
(D3)
750. Index of wholesale prices, all commodities (M). -- Department
of Labor, Bureau of Labor Statistics
(D4)

47. United States, index of industrial production (M). See in
section B.
121. Organization for Economic Cooperation and Development,
European Countries, index of industrial production (M). -Organization for Economic Cooperation and Development
(Paris)
(F2)

751. Index of wholesale prices, processed foods and feeds (M). -Department of Labor, Bureau of Labor Statistics
(04)
752. Index of wholesale prices, farm products (M). -- Department of
Labor, Bureau of Labor Statistics
(D4)
781. Index of consumer prices (M). -- Department of Labor, Bureau
of Labor Statistics
(D4, E5, Fl)

122. United Kingdom, index of industrial production (M) -- Central
Statistical Off ice (London)
(F2)
123. Canada, index of industrial production (M). -- Dominion Bureau
of Statistics (Ottawa)
(F2)

Labor,
(D4)
Depart(04)

125. West Germany, index of industrial production (M). -- Statistisches Bundesamt (Wiesbaden); seasonal adjustment by
OECD
(F2)
126. France, index of industrial production (M). -- Institut National
de la Statistique et des Etudes Economiques (Paris)
(F2)

784. Index of consumer prices, services (M). -- Department of Labor,
Bureau of Labor Statistics
(04)

127. Italy, index of industrial production (M). -- Istituto Centrale di
Statistica(Rome)
(F2)

782. Index of consumer prices, food (M). -- Department of
Bureau of Labor Statistics
783. Index of consumer prices, commodities less food (M). -ment of Labor, Bureau of Labor Statistics

E Analytical Measures
47. Index of industrial production (M). See in section B.
48. Man-hours in nonagricultural establishments (M). See in section B.
52. Personal income (M). See in section B.
54. Sales of retail stores (M). See in section B.
55. Index of wholesale prices, industrial commodities (M). See in
section B.
200. GNP in current dollars (Q). See in section A.
205. Gross national product in 1958 dollars (Q). See in section A.
206. Potential level of gross national product in 1958 dollars (Q). -Council of Economic Advisers
(El)
207. Gap -- the potential GNP (series 206) less the actual GNP
(Series 205) (Q). -- Council of Economic Advisers
(El)
781. Index of consumer prices, all items (M). See in section D.
820. Five coincident indicators - composite index (includes series
41, 43, 47, 52, and 56) (M). See in section B.
850. Ratio, output to capacity, manufacturing (Q). -- Board of Governors of the Federal Reserve System, Department of Commerce,
and McGraw-Hill Economics Department
(E2)
851. Ratio, inventories (series 71) to sales (series 56), manufacturing and trade total (EOM). -- Department of Commerce, Office of
Business Economics
(E2)
852. Ratio, unfilled orders (series 96) to shipments, manufacturers'
durable goods (EOM). - Department of Commerce, Bureau of the
Census
(E2)
853. Ratio, production of business equipment to production of
consumer goods (M). -- Board of Governors of the Federal
Reserve System. (Based upon components of the Federal
Reserve index of industrial production.)
(E2)

128. Japan, index of industrial production (M). -- Ministry of International Trade and Industry (Tokyo)
(F2)
132. United Kingdom, index of consumer prices (M). -- Ministry of
Labour (London)
(Fl)
133. Canada, index of consumer prices (M). -- Dominion Bureau of
Statistics (Ottawa)
(Fl)
135. West Germany, index of consumer prices (M). -- Statistisches
Bundesamt (Wiesbaden)
(Fl)
136. France, index of consumer prices (M). -- Insitut National de la
Statistique et des Etudes Economiques (Paris)
(Fl)
137. Italy, index of consumer prices (M). -- Istituto Centra I e di
Statistica(Rome)
(Fl)
138. Japan, index of consumer prices (M). -- Office of the Prime
Minister (Tokyo)
(Fl)
142. United Kingdom, index of stock prices (M). -- The Financial
Times (London)
(F3)
143. Canada, index of stock prices (M). -- Dominion Bureau of
Statistics (Ottawa)
(F3)
145. West Germany, index of stock prices (M). -- Statistisches
Bundesamt (Wiesbaden)
(F3)
146. France, index of stock prices (M). -- Institut National de la
Statistique et des Etudes Economiques (Paris)
(F3)
147. Italy, index of stock prices (M). -- Istituto Centrale di Statistica(Rome)
(F3)
148. Japan, index of stock prices (M). - Tokyo Stock Exchange
(Tokyo)
(F3)
781. United States, index of consumer prices (M). See in section D.

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