Full text of Business Conditions Digest : August 1980
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U.S. DEPARTMENT OF COMMERCE
Philip M. Klutznick, Secretary
Courtenay M. Slater, Chief Economist for the Department of Commerce
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
John E. Cremeans, Associate Director for National
Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication are—
Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee under the
auspices of the Office of Federal Statistical Policy and Standards. The Committee consists of
the following persons:
Beatrice N. Vaccara, Chairman, Bureau of Industrial Economics, U.S. Department of
Commerce
John E. Cremeans, Bureau of Economic Analysis, U.S. Department of Commerce
Joseph W. Duncan, Office of Federal Statistical Policy and Standards
Lyle E. Gramley, Council of Economic Advisers, Executive Office of the President
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
J. Cortland Peret, Board of Governors of the Federal Reserve System
ABOUT THIS REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Annual subscription price: $40 domestic, $50
foreign. Single copy price: $3.50 domestic, $4.50
foreign. For information concerning foreign airmail delivery, available at an additional charge,
write the Superintendent of Documents (address
Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs, and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
follows), enclosing a copy of your address label.
Make checks payable to the Superintendent of
Documents. Send to the U.S. Government
Printing Office, Washington, D.C. 20402.
BUSINESS CONDITIONS DIGEST
New Features and Changes for This Issue
ltd*
iii
METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
Reference Turning Dates
Part I. Cyclical Indicators
Part II. Other Important Economic Measures
How To Read Charts
How To Locate a Series
Summary of Recent Data and Current Changes
1
1
1
1
4
5
5
6
AUGUST 1980
Data Through July
Volume 20, Number 8
PART I.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND
THEIR COMPONENTS
Al I
A2
A3
A4 I
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
Chart
Table
10
12
14
15
60
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
—
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
Bl
B2
B3
B4
B5
B6
B7
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
DIFFUSION INDEXES
AND RATES OF CHANGE
Cl I
C2
C3I
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
The Secretary of Commerce has determined that the publication of this periodical is necessary in the
transaction of the public business required by law of this Department. Use of funds for printing this
periodical has been approved by the Director of the Office of Management and Budget through Septem1, 1980.
Digitizedber
for FRASER
BCI»
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
__
Al 1
A2
A3 __
_A.4_
iJ^LJ
LjA6j
LA7J
| A8 j
AND PRODUCT
Chart
GNP and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
Table
40
41
42
43
44
45
46
47
80
80
81
81
82
82
82
83
48
49
84
87
51
89
52
53
90
90
56
57
92
93
58
59
59
94
95
96
PRICES, WAGES,
AND PRODUCTIVITY
j J31 1
f B2l
Price Movements
Wages and Productivity
LABOR FORCE, EMPLOYMENT,
A N D UNEMPLOYMENT
[ Cl ~j
Civilian Labor Force and Major Components
GOVERNMENT ACTIVITIES
?LJ
[]D2J
Receipts and Expenditures
Defense Indicators
U.S. INTERNATIONAL TRANSACTIONS
LJ±L i
i _E2~]
Merchandise Trade
Goods and Services Movements
INTERNATIONAL COMPARISONS
_ £2.
F3
Industrial Production
Consumer Prices
Stock Prices
PART III. APPENDIXES
A. MCD and Related Measures of Variability (April 1980 issue)
QCD and Related Measures of Variability (April 1980 issue)
B. Current Adjustment Factors (July 1980 issue)
C. Historical Data for Selected Series
97
D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions: 1854 to 1975 (March 1980 issue)
F. Specific Peak and Trough Dates for Selected Indicators (June 1980 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
106
110
114
waders are invited to submit comments and
ggestions concerning this publication.
ddress them to Feliks Tamm, Chief, Statistical
idicators Division, Bureau of Economic Analysis,
.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
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
Changes in this issue are as follows:
indexes, etc.
1. The series on current- and constant-dollar Average
hourly earnings of production workers in the private nonfarm
economy (series 340 and 341) have been revised for the period
1975 to date. These revisions reflect the source agency's
recotnputation of the seasonal adjustment factors.
Further information concerning these revisions may be
obtained from the U.S. Department of Labor, Bureau of Labor
Statistics, Office of Current Employment Analysis, Division
of Industry Employment Statistics.
2. Appendix C contains historical data for series 1-4,
21, 24, 25, 27, 29, 36, 38, 45, 58, 65, 69, 78, 96, 548, 559,
588, 602, 604, 606, 612, 614, and 616.
3. Appendix G contains cyclical comparisons for series
36, 41, 51, 72, 77, 90, 92, and 104.
The September issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on October 2.
HI
BEA PROJECTS
for economic
analysis
BUSINESS CONDITIONS DIGEST A monthly report for analyzing economic fluctuations over a short span of years.
This report brings together many of the economic time series found most useful by
business analysts and forecasters. The dominant feature is the cyclical indicators
section in which approximately 110 business cycle indicators are each assigned a
three-way timing classification according to their cyclical behavior at peaks, at
troughs, and at all turns. This section also contains other valuable aids for the
analysis of business conditions and prospects, such as composite indexes of leading,
coincident, and lagging indicators and various diffusion indexes. A second section
contains other important economic measures such as prices, wages, productivity,
government activities, U.S. international transactions, and international comparisons.
Data are presented in charts and tables. Appendixes provide historical data, series
descriptions, seasonal adjustment factors, and measures of variability, A computer
tape containing data for most of the-series is available for purchase.
LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years, 1860-1970.
This report has been developed from available statistics to provide a comprehensive,
long-range view of the U.S. economy. It is a basic research document for economists,
historians, investors, teachers, and students. It brings together under one cover, in
meaningful and convenient form, the complete statistical basis for a study of longterm economic trends. A computer tape file of the time series included in the report
is available for purchase.
COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS
The source
statements for FORTRAN IV programs used by BEA in its analysis of
time series are available on a single computer tape.
SEASONAL ADJUSTMENT PROGRAMS.-Two variants of the Census computer
program for measuring and analyzing seasonal, trading-day, cyclical, and irregular
fluctuations. They are particularly useful in analyzing economic fluctuations which
take place within a year. The X-11 variant is used for adjusting monthly data and
the X-11Q for quarterly data. These programs make additive as well as multiplicative
adjustments and compute many summary and analytical measures.
DIFFUSION INDEX PROGRAM.-A computer program for computing diffusion
indexes, cumulated diffusion indexes, and summary measures of the properties of
each index.
SURVEY OF CURRENT BUSINESS
current economic developments.
A
monthly report for analyzing
This report provides a useful combination of current data for more than 2,500
statistical series and significant articles analyzing economic developments. These
data and analyses include such areas as the national income and product accounts,
the balance of payments accounts, plant and equipment expenditures, regional
personal income, and the input-output accounts.
A
BUSINESS STATISTICS
biennial reference volume containing statistical series reported currently in the Survey of Current Bus/ness.
This report provides historical data back to 1947 for nearly 2,500 time series. The
series are accompanied by concise descriptions as to their composition, methods of
compilation, comparability, revisions, and availability. Also listed are the names and
addresses of organizations which provide the basic data for the series.
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1956, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1969.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977
Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Reference Turning Dates
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to periodic review by NBER and on occasion are
changed as a result of revisions in important
economic time series. The dates shown in this publication for the 1948-1970 time period are those
determined by a 1974 review. The turning dates for
the 1973-1975 period are detailed in NBER's 1976
Annual Report.
Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
c o n f o r m i t y to business e x p a n s i o n s and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
scores relate to cyclical behavior of the series
during the period 1947-70. This analysis produced
a new list of indicators classified by economic
process and typical timing at business cycle peaks
and troughs. (See tables on page 2 and text below
relating to section B.)
This information, particularly the scores relating
to consistency of timing, served as a basis for the
selection of series to be included in the composite
indexes. The indexes incorporate the best-scoring
series from many different economic-process
groups and combine those with similar timing
behavior, using their overall performance scores as
weights. Because they use series of historically
tested usefulness and given timing characteristics
(for example, leading at both peaks and troughs),
with diversified economic coverage and a minimum
of duplication, composite indexes give more
reliable signals over time than do any of the
individual indicators. Furthermore, much of the
1
Tim i ^
Cross-Classification of Cyclical Indicators by Economic
A. Timing at Business Cycle Peaks
V Economic
\Process
1.
II.
PRODUCTION
AND
INCOME
(10 series)
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)
Capacity
utilization
(2 series)
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
N.
Cyclical \^
Timing
\.
v
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
i INVENTORY
i INVESTMENT
! (9 series)
VI.
VII.
PRICES, COSTS, MONEY
AND PROFITS
AND CREDIT
(17 series)
(26 series)
New and
unfilled orders
and deliveries
(6 series)
Consumption
(2 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(5 series)
Residential
construction
(3 series)
j Inventory
investment
! (4 series)
i Inventories on
f hand and on
i order
] (i series)
.
j
1
i
Stock prices
(1 series)
Commodity
prices
(1 series)
Profits and
profit
margins
(7 series)
Cash flows
(2 series)
.
^-
LEADING (L)
INDICATORS
(62 series)
III.
CONSUMPTION.
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
1 nterest rates
(1 series)
!
:
!
Comprehensive
employment
(1 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(4 series)
"""
Duration of
unemployment
(2 series)
LAGGING (Lg)
INDICATORS
(18 series)
Comprehensive
employment
(3 series)
TIMING
UNCLASSIFIED
(U)
(8 series)
Consumption
and trade
(4 series)
"
~"
"
Backlog of
investment
commitments
(1 series)
Business
investment
expenditures
(5 series)
i
i
;
i
Business
investment
expenditures
(1 series)
i Inventories on
i hand and on
order
; (4 series)
Velocity of
money
(2 series)
Interest rates
(2 series)
i
i
Trade
(1 series)
Business
investment
commitments
(1 series)
II.
III.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
Industrial
production
(1 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(4 series)
Residential
construction
(3 series)
Inventory
investment
(4 series)
,... . _
._ . _1
Unit labor costs
1 nterest rates
and labor share
(4 series)
(4 series)
Outstanding
debt
(3 series)
:
Commodity
.prices
(1 series)
Profit share
(1 series)
Interest rates
(1 series)
VI.
i
PRICES, COSTS,
AND PROFITS
(17 series)
VII.
MONEY
AND CREDIT
(26 series)
B. Timing at Business Cycle Troughs
I
5;
'
Economic
I.
.Process
\ EMPLOYMENT
\
! AND
,„.. .
i UNEMPLOY1
T^rSi'no
j Timing
MENT
(1g
v
series)
Marginal
employment
adjustments
(3 series)
i LEADING (L)
INDICATORS
(47 series)
Marginal
employment
! ROUGHLY
i /o series)
COINCIDENT(C) j comprehensive
INDICATORS
employment
(23 series)
(4 series)
!
Marginal
employment
adjustments
(1 series)
' Job vacancies
! (2 series)
1 Comprehensive
' employment
j ,-^ series)
i Comprehensive
! and duration
! of
;
unemployment
1 (5 series)
i
i
:
:
: LAGGING (Lg)
INDICATORS
fAf\ corioct
VH-U senebj
:
i
(TIMING
i
!
| UNCLASSIFIED j
1 (1 series)
j
PRODUCTION
AND
INCOME
(10 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
Consumption
and trade
(3 series)
Unfilled orders
(1 series)
Business
investment
commitments
(1 series)
Stock prices
(1 series)
Commodity
prices
(2 series)
Prof its and
profit margins
! (6 series)
1 Cash flows
(2 series)
i
Profits
(2 series)
|
Business
investment
commitments
(2 series)
Business
investment
expenditures
(6 series)
Inventories on
hand and on
order
(5 series)
; Unit labor costs
and labor share
(4 series)
:
;
1
i
1 Money flows
1 (2 series)
i Real money
supply
(2 series)
Credit flows
: (4 series)
\ Credit
! difficulties
(2 series)
;
Money flow
(1 series)
Velocity of
money
(1 series)
Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)
i
|h.
Bank reserves
(1 series)
:
!
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
w e l l - e s t a b l i s h e d d i f f e r e n c e s in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through -hi at peaks and from -1 through
+3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1977
Handbook of Cyclical Indicators.}
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags (+) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,l_g." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the post-1970 period
can be determined by inspection of the charts
where the 1973-75 recession is shaded according
to the dates of the NBER reference cycle
chronology.
Section B. Cyclical Indicators by Economic Process
This section covers 111 individual time series,
including the 22 indicators used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peaks and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,
August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and jor four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.
Gross private domestic investment (A3) is fixed Section C. Labor Force, Employment, and
capital goods purchased by private business and Unemployment
nonprofit institutions and the value of the change
This section contains measures of the civilian
in
the physical volume of inventories held by
This part is divided into six sections which cover
labor
force and its major components: Total
a wide range of quarterly and monthly time series private business. The former include all private numbers of employed and unemployed persons.
measuring various aspects of economic activity. purchases of dwellings, whether purchased for The number of unemployed is subdivided into
Some of these series are very comprehensive, tenant or owner occupancy. Net purchases of used selected categories defined by sex, age, and class
pertaining to the U.S. economy as a whole, others goods are also included.
Government purchases of goods and services of worker. Also included are data on participation
have to do with particular sectors or markets, and
rates for a few principal segments of the labor
still others relate to U.S. international transactions (A4) is the compensation of government employees force.
or to selected foreign countries. The represented and purchases from business and from abroad. It
variables include incomes, outputs, and' excludes transfer payments, interest paid by Section D. Government Activities
expenditures; prices, earnings, and productivity; government, and subsidies. It includes gross
Receipts, expenditures, and their balance (surlabor r e s o u r c e s ; g o v e r n m e n t receipts, investment by government enterprises but excludes
expenditures, and defense-related activities; ex- their current outlays. It includes net purchases of plus or deficit) are shown quarterly on two levels:
ports and imports; and selected indicators for a few used goods and excludes sales and purchases of (1) Federal Government and (2) State and local
land and financial assets.
government. Also shown is a selection of series
key foreign countries.
Net exports of goods and services (A5) is exports from the discontinued Defense Indicators.
less imports of goods and services. Exports are part These series measure defense activities which
Section A. National Income and Product
of the national production; imports are not, but are influence short-term changes in the national
The national income and product accounts,
included in the components of GNP and are economy. Included are series relating to
compiled by BEA, summarize both receipts and therefore deducted. More detail on U.S.
obligations, contracts, orders, production,
final expenditures for the personal, business,
international transactions is provided in section E. shipments, inventories, outlays, and employment.
foreign, and government sectors of the economy.
National income (A6) is the incomes that These series are grouped according to the time at
Section Al shows the gross national product, originate in the production of goods and services
which the activities they measure occur in the
final sales, and personal and disposable personal attributable to labor and property supplied by
defense order-production-delivery process. Series
income. The four major components of the gross residents of the United States. Thus, it measures
measuring activities which usually precede pronational p r o d u c t — p e r s o n a l c o n s u m p t i o n the factor costs of the goods and services production, such as contract awards and new orders,
expenditures, gross private domestic investment, duced. It consists of the compensation of
are classified as "advance measures of defense
government purchases of goods and services, and employees, proprietors' income, rental income of
activity." Series measuring activities which tend to
net exports of goods and services—are presented in persons, corporate profits, and net interest.
coincide with production, such as employment, and
sections A2 through A5. Most of the series in
Saving (A7) is the difference between income activities which usually follow production, such as
section A are presented in current as well as and expenditures during an accounting period.
shipments, are classified as ''intermediate and final
constant dollars. There are also a few per capita Total gross saving includes personal saving,
measures of defense activity."
series. The national income and product accounts, business saving (mainly undistributed corporate
briefly defined below, are described more fully in profits and capital consumption allowances), and Section E. U.S. International Transactions
the Survey of Current Business, Part I, government surplus or deficit.
January 1976.
This group includes monthly series on exports
Shares of GNP and national income (A8).—The
Gross national product (GNP) is the market m a j o r e x p e n d i t u r e c o m p o n e n t s of GNP (excluding military aid) and general imports, plus a
value of final goods and services produced by the (consumption, investment, etc.) are expressed as few selected components of these aggregates. Also
labor and property supplied by residents of the percentages of GNP, and the major income shown are the balances between receipts and
United States, before deduction of allowances for components of national income (compensation of expenditures for goods and services, merchandise,
the consumption of fixed capital goods. It is the employees, corporate profits, etc.) are expressed as and investment income.
most comprehensive measure of aggregate percentages of national income.
Section F. International Comparisons
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
This section is designed to facilitate a quick
persons (individuals, owners of unincorporated Section B. Prices, Wages, and Productivity
review of basic economic conditions in six of the
businesses, nonprofit institutions, private trust
nations with which we have important trade
funds, and private noninsured welfare funds) from
The important data on price movements include relationships. The U.S. business cycle shading has
all sources. It is the sum of wage and salary the monthly consumer and producer price indexes been omitted from these charts. Data on industrial
disbursements, other labor income, proprietors' and their major components. Based largely on production, consumer prices, and stock prices for
income, rental income of persons, dividends, these series are the quarterly price indexes from Canada, the United Kingdom, France, West Gerpersonal interest income, and transfer payments, the national income and product accounts, notably many, Japan, and Italy are compared with the corless personal contributions for social insurance.
the GNP implicit price deflator (with weights responding U.S. series. Also included is an inDisposable personal income is the personal reflecting the changing proportions of different dustrial production index for the European
income available for spending or saving. It consists expenditure categories in GNP) and the fixed- countries in the Organization for Economic
of personal income less personal taxes and nontax weighted price index for the gross business prod- Cooperation and Development (OECD). The inpayments to government.
uct. Data on both levels and percent changes are dustrial production series provide cyclically sensitive output measures for large parts of the
Personal consumption expenditures (A2) is presented for the period since 1969.
The group of series on wages and productivity economies covered. Changes in consumer price ingoods and services purchased by individuals,
operating expenses of nonprofit institutions, and consists of data on average hourly earnings and dexes (plotted for the period since 1969) provide
the value of food, fuel, clothing, rent of dwellings, average hourly compensation (including earnings important measures of the rates of inflation in the
and financial services received in kind by in- and other benefits) in current and constant dollars, major industrialized countries. Stock prices (also
dividuals. Net purchases of used goods are also in- output per hour of work in the business sector, and shown beginning in 1969) tend to be significant as
leading indicators.
rates of change for most of these measures.
Digitized for cluded.
FRASER
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman number indicates
latest quarter for which data
are plotted. (''IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Rates of Change
Solid line indicates percent
changes over 3- or 6-month
spans.
Dotted line indicates anticipated quarterly data over
various spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line indicates percent
changes over 1-month spans.
Broken line with plotting
points
indicates
percent
changes over 1-quarter spans.
Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Basic data1
Series title
Timing
classification3
Unit
of
measure
Percent change
Average
1978
1979
4th Q
1979
IstQ
1980
2dQ
1980
May
1980
June
1980
July
1980
June
to
July
1980
May
to
June
1980
4th Q
to
IstQ
1980
IstQ
to
2dQ
1980
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
I. CYCLICAL INDICATORS
A. Composite Indexes
910. Twelve leading indicators
920. Four coincident indicators
930. Six lagging indicators
L,L,L
C,C,C
Lg,Lg,Lg
1967-100 ..
do. . . .
do. ...
141.8
140.1
143.1
140.1
145.2
166.4
136.3
145.2
177.6
133.5
144.8
183.2
124.8
138.0
182.6
123.2
137.6
183.6
125.0
135.9
168.2
130.7
134.2
163.9
1.5
-1.2
-8.4
4.6
-1.3
-2.6
-2.1
-0.3
3.2
-6.5
-4.7
-0.3
91
92
93
L,L,L
L,L,L
L,L,L
L,L,L
L LL
do.
do.
do.
do.
do
...
...
...
...
98.1
115.7
106.2
93.2
149.0
96.8
113.5
105.9
91.7
145.3
96.3
112.5
102.6
90.4
140.2
95.7
110.1
102.2
89.3
137.9
89.4
105.6
98.5
NA
135.3
88.3
104.1
98.3
88.4
134.9
89.6
107.8
97.3
NA
135.1
92.1
109.4
99.5
NA
138.3
1.5
3.6
-1.0
NA
0.1
2.8
1.5
2.3
NA
2.4
-0.6
-2.1
-0.4
-1.2
-1.6
-6.6
-4.1
-3.6
NA
-1.9
91
91
91
91
91
Marginal Employment Adjustments:
*1. Average workweek, prod, workers, mfg
L,L,L
21. Avg. weekly overtime, prod, workers, mfg.2 ..
L,C,L
2. Accession rate, per 100 employees, mfg.2 . . . .
L,L,L
5. Avg. weekly initial claims (inverted 4 )
L,C,L
*3. Layoff rate, per 100 employ., mfg. (inv. 4 ) 2 . . L,L,L
4. Quit rate, per 100 employees, mfg.2
L,Lg,U
Hours
do. . . .
Percent
Thousands. .
Percent
do. . . .
40.4
3.6
4.1
339
0.9
2.1
40.2
3.3
4.0
381
1.1
2.0
40.1
3.2
4.0
404
1.2
2.0
40.1
3.1
3.8
406
1.4
1.9
39.4
2.7
3.1
607
3.1
1.4
39.3
2.6
3.0
635
3.5
1.4
39.1
2.4
3.3
617
2.9
1.4
39.1
2.5
3.4
536
1.7
1.3
-0.5
-0.2
0.3
2.8
0.6
0.
0.
0.1
0.1
13.1
1.2
-0.1
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
46 Help-wanted advertising
L,Lg,U
Ratio
1967=100...
0.738
149
0.786
158
0.789
161
0.699
150
0.446
116
0.409
112
0.428
115
0.428
118
0.019
2.7
U,C,C
U.C.C
C,C,C
L,C,U
A.r., bil. hrs..
Thousands. .
do. . . .
do. . . .
164.56
91,031
86,697
25,585
169.89
93,648
89,886
26,504
170.90
94,319
90,557
26,549
171.97
94,486
91,120
26,605
169.40
93,622
90,464
25,754
169.27
93,609
90,468
25,745
168.45
93,346
89,973
25,396
167.53
93,739
39,735
25,075
-0.5
-0.3
-0.5
-1.4
U,Lg,U
Percent
58.59
59.25
59.31
59.17
58.41
58.47
53.12
58.29
-0.35
0.17
Thousands . .
Percent
do. .. .
Weeks
Percent
6,047
6.0
3.2
11.9
1.4
5,963
5.8
3.0
10.8
1.2
6,084
5.9
3.0
10.5
1.2
6,390
6.1
3.2
10.7
1.3
7,808
7.5
4.2
11.2
1.6
8,154
7.8
4.3
10.5
1.6
8,006
7.7
4.6
11.7
1.7
8,207
7.8
4.5
11.6
1.8
1.8
0.1
-0.3
-11.4
-0.1
C,C,C
A.r., bil. dol.
do. . . .
......do. . . .
1399.2
1145.2
995.7
C,C,C
do
243.5
246.0
241.5
238.5
228.0
227.7
224.5
1967-100...
do. . . .
do. . . .
A.r. f bil.dol.
146.1
139.7
156.9
639.5
152.2
146.3
163.3
653.1
152.2
145.1
164.4
655.1
152.2
144.0
165.2
659.7
144.5
134.0
157.9
638.8
144.3
133.5
157.9
141.0
129.9
154.1
L,C,U
Percent. . . . .
do. . . .
.. . ..do. ...
84.4
84
85.6
85.6
82
87.2
83.8
80
85.4
78.2
NA
78.9
L,L,L
L,L,L
L,L,L
L,L,L
L,Lg,U
L,L,L
Bil.dol
. . . ..do. . . .
do. . . .
do. . . .
Bil. dol., EOP
Percent
70.19
76.54
80.01
77.20
68.73
67.33
66.45
72.06
41.48
41.40
39.43
39.61
33.78
32.42
33.23
34.85
37.16
36.46
34.71
35.21
29.51
29.03
29.07
32.10
3.68
2.05
3.26
2.33
-1.50
-2.12
-2.60
0.49
2 2 8 . 8 2 267.88 267.88 274.88 270.38 272.98 270.38 270.88
64
49
63
45
33
32
28
32
c,c,c
c,c,c
L,L,L
Bil.dol
do. . . .
1967-100...
Mil. dol
do
A.r., bil. dol.
I Q 1966-100
254.26
156.32
149.1
66,741
44,314
68.0
79.4
L,L,L
L,L,L
1967-100...
Number. . . .
132.9
132.4
131.7
128.9
3 9 , 9 9 6 43,714 4 4 , 9 5 6 43,882
Leading Indicator Subgroups:
913. Marginal employment adjustments
914 Capital investment commitments
915. Inventory investment and purchasing
916 Profitability
917 Money and financial flows
B. Cyclical Indicators by Economic Process
B1. Employment and Unemployment
Comprehensive Employment:
48. Employee hours in nonagri. establishments . . .
42. Persons engaged in nonagri. activities
*41 Employees on nonagri. payrolls
40. Employees in mfg., mining, construction . . . .
90. Ratio, civilian employment to total population of working age2
Ug,u
Comprehensive Unemployment:
37. Total unemployed (inverted 4 )
L,Lg,U
43. Unemployment rate, total (inverted 4 ) 2
L,Lg,U
4 2
45. Avg. weekly insured unemploy-rate (inv. ) . . L,Lg,U
*91. Avg. duration of unemployment (inverted 4 ) . . Lg,Lg,Lg
44. Unemploy. rate, 15 weeks and over (inv. 4 ) 2 .. Lg,Lg,Lg
0.
0.
-0.1
-0.2
-0.5
-0.2
-0.1
-1.7
-0.4
-0.7
-49.5
-1.7
-0.5
2
2.6
-0.090
-6.8
-0.253
-22.7
6
4
-0.5
0.4
-0.3
-1.3
0.6
0.2
0.6
0.2
-1.5
-0.9
-0.7
-3.2
4
4
4
4
-0.14
-0.76
9
-2.5
-0.1
0.1
0.9
-0.1
-5.0
-0.2
-0.2
-1.9
-0.1
-22.2
-1.4
-1.0
-4.7
-0.3
3
4
4
9
4
0.
-0.1
0.8
-0.4
0.3
-0.4
-0.5
-2.3
-1.4
-1.7
5
5
5
222.5
-1.4
-0.9
-1.2
-4.4
5
138.8
127.5
151.2
-2.3
-2.7
-2.4
-1.6
-1.8
-1.9
0.
-0.8
0.5
0.7
-5.1
-6.9
-4.4
-3.2
4
7
7
4
-0.3
-1
-0.9
-5.6
NA
-6.5
8
8
8
B2. Production and Income
Comprehensive Output and Income:
50. GNPin 1972 dollars
52. Personal income in 1972 dollars
*51. Pers. income less transfer pay., 1972 dollars ..
53. Wages and salaries in mining, mfg., and construction 1972 dollars
Industrial Production:
*47 Industrial production total
73 Industrial production durable mfrs
74. Industrial production, nondurable mfrs
49. Value of goods output, 1972 dollars
Capacity Utilization:
82. Capacity utilization rate, mfg., FRB 2
83. Capacity utilization rate, mfg., BEA 2
84. Capacity utilization rate, materials, FRB 2 . . . .
c,c,c
c,c,c
c,c,c
c,c,c
C,L,L
C,C,C
L.C.U
1431.6 1 4 4 0 . 3 1 4 4 4 . 7
1178.3 1186. 8 1182.2
1024.1 1029.1 1 0 2 4 . 3
84.6
81
86.3
1410.9
1165.4 1164.9 1164.4 1173.2
1007.2 1006.1 1005.0 1001.1
B3. Consumption, Trade, Orders, and
Deliveries
Orders and Deliveries:
6 New orders durable goods
7. New orders, durable goods, 1972 dollars
*8. New orders, cons, goods and mtls., 1972 dol. .
25. Chg. in unfilled orders, durable goods2
96. Mfrs.' unfilled orders, durable goods 5
*32 Vendor performance 2 (§)
Consumption and Trade:
56 Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars . .
75. Industrial production, consumer goods
54 Sales of retail stores
».
59 Sales of retail stores, 1972 dollars
55. Personal consumption expend., autos
58 Index of consumer sentiment ©
C,L,C
C,L,U
U,L,U
L,C,C
2 8 8 .28
159.82
150.5
73,837
44,800
69.2
66.0
300.05
158.89
149.0
76,385
44,879
66.8
62.1
309.65
158.76
148.2
77,997
44,344
71.5
63.5
293.69
148.20
142.7
75,067
41,727
52.6
54.4
292.63
146.97
142.4
74,587
41,460
51.7
293.18
NA
147.01
NA
141.0
139.4
7 5 , 6 0 2 77,125
41,862 4 2 , 4 4 6
58.8
62.3
NA
NA
NA
NA
-1.3
-2.4
0.1
-0.48
-1.0
-4
8.4
7.5
10.4
3.09
0.2
4
4.5
0.5
1.4
0.28
2.6
-4
-14.1
-14.7
-16.2
-3.83
-1.6
-12
2
9
3;
0.2
0.
-1.0
1.4
1.0
NA
NA
-1.1
2.0
1.4
13.7
6.0
3.2
-0.1
-0.5
2.1
-1.2
7.0
2.3
-5.2
-6.7
-3.7
-3.8
-5.9
-26.4
-14.3
5
5'
7
5;
5
5
Si
NA
NA
-2.6
-2.4
B4. Fixed Capital Investment
Formation of Business Enterprises:
*1 2. Net business formation
13. New business incorporations
NA
120.3
NA 4 1 , 9 7 4
NA
NA
NA
NA
i:
i.
Basic data1
Timing
classification3
Series title
Unit
of
measure
Percent change
Average
1978
1979
4th Q
1979
IstQ
1980
2dQ
1980
May
1980
June
1980
May
to
June
1980
July
1980
4th Q
to
IstQ
1980
June
to
July
1980
IstQ
to
2dQ
1980
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
I. CYCLICAL INDICATORS-Con.
B4. Fixed Capital Investment-Con.
Business Investment Commitments:
Bil. dol
10. Contracts and orders, plant and equipment . . . L,L,L
*20. Contr. and orders, plant and equip.,
do. . . .
L LL
1972dol
do. .. .
24. New orders, cap. goods indus., nondefense . . . L,L,L
27. New orders, capital goods industries, nondedo. ...
fense 1972 dollars
L LL
9. Construction contracts, commercial and industrial buildings, floor space
L,C,U Mil. sq.ft. ..
1 1 . New capital appropriations, mfg
U,Lg,U Bil. dol
97. Backlog of capital appropriations, mfg.5
C,Lg,Lg Bil. dol., EOP
Business Investment Expenditures:
61. Business expend., new plant and equipment ..
69. Machinery and equipment sales and business
construction expenditures
76. Industrial production, business equip
86. Nonresid. fixed investment, total, 1972 dol. . .
Residential Construction Commitments and
Investment:
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dol
,
22.01
25.33
25.77
26.06
22.77
21.18
22.92
23.61
8.2
3.0
1.1
-12.6
1C
13.60
18.30
14.58
21.64
14.50
21.70
14.18
22.64
12.38
20.57
11.53
19.59
12.62
19.95
12.72
20.35
9.5
1.8
0.8
2.0
-2.2
4.3
-12.7
-9.1
21
24
10.79
11.26
11.22
4.4
-0.4
0.4
-9.6
2"
71.19
72.28
1.5
5.7
26.7
9.7
-24.2
-12.7
4.3
1J
9"
2.4
-0.2
6]
5.7
1.6
0.5
-2.7
-2.2
-4.1
se
-17.0
-20.9
-21.3
21
2C
89
11.41
12.68
12.52
12.57
11.36
80.73
16.78
63.43
90.34
22.20
76.66
86.02
23.28
76.66
90.91
29.50
84.09
68.94
25.76
87.71
62.72
C,Lg,Lg A.r., bil. dol.
153.82 177.09 186.95 191.36 191.00
do. . . .
C,Lg,Lg
C,Lg,U 1967=100...
A.r.,
bil.
dol.
C,Lg,C
230.13 271.93 284.10 300.39 2 9 2 . 4 1 2 9 3 . 4 9 291.74
171.3
172.9
160.3
175.6
171.8
172.3
168.6
148.8
140.1
150.5
151.2
145.0
L,L,L
L,L,L
L,L,L
A.r., thous. .
1967=100...
A.r., bil. dol.
2r020
145.4
60.1
1,744
123.8
56.7
1,593
108.0
55.8
1,263
91.7
51.7
1,048
72.5
40.7
L,L,L
do. . . .
14.1
9.7
1.4
0.3
3.3
L,L,L
L,L,L
L,L,L
do. . . .
. . . . . d o . ...
Bil. dol
19.02
43.2
2.05
10.62
46.4
2.56
-7.51 -10.87
33.8
49.1
2.09
2.08
-7.79
33.7
-1.93
NA
166.2
13.5
-0.6
-2.1
NA
-1.4
c
6S
76
1,208
87.1
1,266
99.8
33.3
30.8
4.8
14.6
-20.7
-15.1
-7.3
-1.1
3.0
30
- 5 . 7 6 -11.28
16.4
10.3
-2.85
-2.59
NA
NA
NA
-5.52
6.1
0.26
NA
NA
NA
-3.36
15.3
-0.01
3.08
-15.4
-4.01
3C
31
38
380.64 427.04 427.04 439.32 4 4 7 . 7 5 446.39 447.75
249.59 257.32 257.32 256.88 257.64 257.99 257.64
63.88
70.53
77.57
70.53
73.94
76.21
77.57
NA
NA
NA
0.3
-0.1
1.8
NA
NA
NA
2.9
-0.2
4.8
1.9
0.3
4.9
71
7L
65
0.
906
66.6
B5. Inventories and Inventory Investment
Inventory Investment:
30. Chg. in business inventories, 1972 dol.2
*36. Change in inventories on hand and on order,
1972 dollars (smoothed 6 ) 2
31. Chg. in book value, mfg, and trade invent.2 ..
38. Chg. in mtl. stocks on hand and on order 2 . . .
Inventories on Hand and on Order:
71. Mfg. and trade inventories, total 5
*70. Mfg. and trade invent., total, 1972 dol.5
65. Mfrs.' inventories of finished goods5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars 2
78. Materials and supplies, stocks on hand and on
order 5
Lg,Lg,Lg Bil. dol., EOP
do, . . .
Lg,lg,Lg
do. . . .
Lg,Lg,Lg
Lg,Lg,Lg Ratio
1.57
L,Lg,Lg Bil. dol., EOP
1.60
1.62
0.12
77
3.1
-2.8
78
0.74
3.8
0.09
3.7
-2.34
-11.3
92
23
4.6
4.7
-1.7
19
-18 ?
-19.9
5.4
2.7
NA
-0.1
16
18
79
81
15
2fc
4.9
3.0
-12.1
-14.0
34
3C
1.74
1.76
1.75
HA
-0.01
NA
199.63
202.22
199.63
NA
-1.3
NA
2.51
318.5
0.17
282.6
-0.12
278.5
-0.45
267.5
0.29
277.6
-0.33
-3.9
103.01 105.30 110.30
108.40
107.69 1 1 4 . 5 5 119.83
6.4
1.62
168.52 199.20 199.20 2 0 5 . 4 3
B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed 6 ) 2
23. Industrial materials prices®
L,L,L
U,L,L
Percent
1967=100...
1.23
231.0
Stock Prices:
*19. Stock prices, 500 commo^ stocks®
L,L,L
1941-43=10.
96.02
Profits and Profit Margins:
16. Corporate profits after taxes
18. Corp. prof its after taxes, 1972 dollars . . .
79. Corp. profits after taxes, with 1 VA and CCA . .
80
do
in 1972 dol....
15. Profits (after taxes) per dol. of sales, mfg,2 . . .
26. Ratio, price to unit labor cost, nonfarm bus
L,L,L
L,L,L
L,C,L
L,C,L
L,L,L
L,L,L
A.r., bil. dol.
.... .do. . . .
do. ...
.....do. ...
Cents
1967=100...
121.5
78.5
83.1
54.2
5.4
95.6
144.1
85.7
85.6
51.6
5.7
94.3
146.9
84.7
80.3
46.9
5.4
94.0
158.0
88.8
72.6
41.4
5.6
93.6
129.3
71.1
76.5
42.5
NA
93.5
Cash Flows:
34 Net cash flow corporate
35. Net cash flow, corporate, 1972 dollars
L,L,L
L,L,L
A.r., bil. dol.
do.
;
194.1
121.5
222.3
128.8
227.7
127.5
238.8
131.3
210.0
112.9
Lg,Lg,Lg 1967=100... i
194.0
214.0
221.1
227.5
235.1
2.9
3.3
63
Lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100...
1.020
164.1
1.115
175.4
1.152
179.9
1.182
185.2
1.217
194.4
? .6
2.9
3.0
5.0
68
62
75.8
76.0
76.4
77.3
0.4
0.9
64
-0.30
-0.07
0.07
0.9
1.4
0.05
0.10
-0.14
-2.4
-2.1
-0.43
0.09
0.02
-3.7
-1.8
85
102
104
105
106
0.
0.070
0.010
0.048
-0.004
107
108
-4.55
34.21
-3.36
23.1
-48.54
-41.38
-55.94
NA
33
112
113
110
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost (cur. dol.) per unit of gross
domestic product (1972), nonfin, corp
*62. Labor cost per unit of output, mfg
64. Compensation of employees as percent of
national income2
Lg,Lg,Lg
Percent
75.7
2.08
293.0
2.42
307.1
7.5
4.8
-9.6
-11.7
0.2
-0.4
194.4
198.2
200.9
1.4
2.0
B7. Money and Credit
Money:
85. Change in money supply (M1-B)2
102 Change in money supply (M2) 2
*104. Chg. in total liquid assets (smoothed 6 ) 2
105. Money supply (M1-B), 1972 dollars
*106 Money supply (M2) 1972 dollars
.. .
Velocity of Money:
107. Ratio, GNP to money supply (M1-B)2
108. Ratio, pers. income to money supply (M2) 2 ..
Credit Flows:
33 Change in mortgage debt2
1 1 2. Change in business loans2
1 13. Change in consumer installment debt2
1 10. Total private borrowing
L,L,L i Percent. . . . ;
LC,U
do
L,L,L
do
L,L,L
Bil. dol. . . . .
L,L,L
do. . . .
c,c,c
C,Lg,C
L,L,L
L,L,L
L,L,L
L,L,L
Ratio. . . . . .
do. . . .
A.r., bil.
do.
do.
do.
0.66
0.67
0.97
222.5
864.4
0.60
0.71
0.95
215.6
846.2
0.36
0.50
0.79
211.4
834.0
0.41
0.60
0.65
206.3
816.5
-0.02
0.69
0.67
198.6
801.5
-0.10
0.81
0.66
197.8
800.0
1.22
1.48
0.61
198.2
804.0
0.92
1.41
0.68
200.0
815.3
6.125
1.273
6.330
1.310
6.390
1.322
6.460
1.332
6.508
1.328
1.330
1.317
1.317 -0.013
dol.
16.79
7.45
86.56
24.79
90.83
77.88
73.33
...
2.14
14.27
22.88
-4.28
2 9 . 9 3 -11.45 - 3 8 . 9 6
...
44.35
35.50
2 0 . 4 1 - 3 5 . 5 3 -41.21 -41.56
23.77
... 3 4 6 . 6 3 3 5 8 . 0 7 2 9 5 . 8 3 3 6 4 . 0 3
NA
NA
13.28
NA
1.32
0.67
-0.05
0.2
0.5
-9.34
41.10
-0.35
NA
11.14
NA
Basic data1
Timing
classification3
Series title
Unit
of
measure
Percent change
Average
1978
1979
4th Q
1979
IstQ
1980
May
to
June
1980
June
to
July
1980
4th Q
to
IstQ
1980
IstQ
to
2dQ
1980
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
May
1980
June
1980
NA
2.74
NA
2.64
NA
2.74
NA
NA
NA
-0.10
NA
NA
NA
0.11
NA
-0.21
14
39
2dQ
1980
July
1980
I. CYCLICAL INDICATORS-Con.
B7. Money and Credit-Con.
Credit Difficulties:
14. Liabilities of business failures (inv 4 )@
39. Delinquency rate, instal. loans (inv. 4 ) 2 5 . . . .
L,L,L
L,L,L
Mil. do)
Percent, EOP
Bank Reserves:
93. Free reserves (inverted 4 ) 2 ©
94. Borrowing from the Federal Reserve 2 ©
L,U,U
L,Lg,U
Mil.dol
do. . . .
-679 -1,131 -1,527 -1,715 -1,070
872
1,338
1,907
1,279
1,800
-835
1,018
-114
365
28
390
-721
-653
-142
25
188
107
-645
-628
93
94
Interest Rates:
119. Federal funds rate 2 ®
114 Treasury bill rate 2 ®
1 1 5. Treasury bond yields2®
116. Corporate bond yields2®
117. Municipal bond yields2©
118. Mortgage yields, residential 2 ©
67. Bank rates on short-term bus. loans2®
*109. Average prime rate charged by banks2®
L,Lg,Lg
C.Lg.Lg
C,Lg,Lg
Lg,Lg,Lg
U,Lg,Lg
Lg,Lg,Lg
Lg,Lg,Lg
Lg,Lg,Lg
Percent
do.
do.
do.
do.
do.
do.
do.
7.94
7.22
7.89
8.98
6.02
9.75
9.80
9.06
10.98
9.15
9.82
11.61
7.59
11.99
9.47
7.00
9.40
11.12
7.63
11.85
9.03
8.13
9.83
11.48
8.13
12.39
-1.51
-2.15
-0.42
-0.49
0.04
-0.14
-0.44
1.13
0.43
0.36
0.50
0.54
16.57
12.63
11.48
-3.94
-1.15
1.47
1.66
1.54
1.66
1.03
NA
-0.14
1.32
-2.36
-3.41
-1.13
-0.96
-0.28
NA
2.08
-0.08
119
114
lib
116
117
118
67
109
NA
1.7
...
...
...
...
...
...
...
Outstanding Debt:
66. Consumer installment debt 5
Lg,Lg,Lg Bil.dol., EOP
*72. Commercial and industrial loans outstanding,
weekly reporting large comm. banks
Lg,Lg,Lg Bil.dol
*95. Ratio, consumer install, debt to pers. income 2 . Lg,Lg,Lg Percent
221.33 222.28 239.36
2.45
2.64
2.64
11.20
10.04
8.74
10.05
6.52
10.89
13.18
12.61
13.58
11.80
9.61
11.33
7.20
NA
15.81
15.08
NA
2.53
15.05
13.46
11.15
12.99
8.23
NA
15.67
16.40
12.69
10.05
10.02
12.03
7.95
12.43
17.75
16.32
NA
-2.9
66
159.03 159.21 1 6 0 . 3 2
14.57
14.33
NA
0.1
-0.24
0.7
NA
4.0
-0.14
-0.6
-0.34
72
95
2 6 7 . 6 3 303.13 3 0 3 . 1 3
308.24 299.35 302.82 299.35
126.31 147.06 1 5 4 . 9 2
15.04
14.34
14.99
161.16 160.17
14.90
14.56
-1.1
II. OTHER IMPORTANT ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
B1. Price Movements
310.
320.
320c
322
Implicit price deflator, GNP
Consumer prices (CPI), all items®
Change in CPI all items, S/A 2
CPI food
330. Producer prices (PPI), all commodities©
331 . PPI, crude materials
332. PPI, intermediate materials
333. PPI, capital equipment
334 PPI finished consumer goods
j
1972=100...
1967=100...
Percent
1967=100...
152.0
195.4
0.7
211.4
165.5
217.4
1.0
234.5
170.6
227.6
1.1
242.0
174.5
236.5
1.4
245.5
178.9
245.0
0.9
249.4
244.9
0.9
249.2
247.6
1.0
250.5
247.8
0.
252.9
1.1
0.1
0.5
0.1
-1.0
1.0
2.3
3.9
0.3
1.4
2.5
3.6
-0.5
1.6
31 C
32C
32 C
322
do.
do.
do.
do.
do.
...
...
...
...
...
209.3
240.2
215.5
199.1
192.6
235.6
282.2
242.8
216.7
215.7
247.5
298.2
257.5
223.0
227.5
259.0
302.6
271.3
230.1
237.5
263.7
293.2
275.3
236.7
242.4
263.7
294.1
274.9
236.0
242.1
265.2
295.1
277.1
238.1
243.8
269.8
313.6
279.3
241.3
248.2
0.6
0.3
0.8
0.9
0.7
1.7
6.3
0.8
1.3
1.8
4.6
1.5
5.4
3.2
4.4
1.8
-3.1
1.5
2.9
2.1
33C
331
332
333
33<
do. . . .
212.9
229.8
237.2
242.6
248.4
248.3
250.7
251.3
1.0
0.2
2.3
2.4
340
do.
do.
do.
do.
109.0
226.9
116.1
119.3
105.6
247.1
113.7
118.3
104.0
254.6
111.7
117.7
102.3
261.1
110.1
117.7
101.4
267.8
109.4
117.1
101.4
101.5
101.7
0.1
0.2
-1.6
2.6
-1.4
0.
-0.9
2.6
-0.6
-0.5
341
345
346
370
-0.6
-0.5
-1.8
1.1
-2.8
-6.2
0.6
0.5
2.5
0.5
4.1
4.4
0.4
0.1
5.0
11.9
1.6
-0.3
0.5
-0.9
22 .2
36.6
14.5
9.2
441
442
37
444
445
446
-0.1
0.2
-0.6
0.1
0.2
-0.7
451
452
453
2.6
3.9
-7.2
1.8
2.2
-1.2
-1.3
3.2
-25.1
-0.4
0.8
-4.4
501
502
500
511
512
510
B2. Wages and Productivity
340. Average hourly earnings, production workers,
private nonfarm economy
341 . Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm bus. . .
346. Real avg. hourly comp., nonfarm business . . .
370. Output per hour, private business sector
...
. ..
. ..
. ..
C. Labor Force, Employment, and
Unemployment
441 .
442
37.
444.
445.
446.
Labor
• 451 .
452.
453
Total civilian labor force
Total civilian employment
Number of persons unemployed
Unemployed males, 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
Millions . . . .
do. . . . '
Thousands. .
do. . . .
do. . . .
do. . . .
Force Participation Rates:
Males, 20 years and over 2
Females, 20 years and over 2
Both sexes, 16-19 years of age2
Percent
do. . . .
do. . . .
79.8
49.6
58.0
79.8
50.6
58.1
79.6
51.0
58.2
79.5
51.2
57.6
79.6
51.4
56.9
A.r.,bil. dol.
do. . . .
do. . . .
do. . . .
do. . . . •
do. ...
432.1
459.8
-27.7
331.0
303.6
27.4
497.6
509.0
-11.4
354.6
330.0
24.6
524.7
540.4
-15.7
368.7
342.9
25.8
538.4
561.3
-22.9
375.3
350.6
24.6
531.4
579.5
-48.0
373.7
353.5
20.2
1 0 0 . 4 2 102.91 1 0 3 . 7 5 104.19 104.70 105.14 1 0 4 . 5 4 105.20
94.37
96.94
97.00
97.66
97.80
96.89
96.54
96.99
6,047
5,963
6,084
8 ,207
7,808
8,154
6,390
8,006
3,542
3,671
3,710
3,730
2,252
2,223
2,318
2,593
2,236
2,213
2,271 2,600
2,702
2,235
2,670
2,596
1,559
1,528
1,666
1,774
1,531
1,526
1,700
1,813
79.9
51.5
57.9
79.4
51.3
56.5
79.5
51.6
57.4
-0.5
-0.2
-1.4
0.1
0.3
0.9
...
...
...
...
...
MiLdol
10,360 11,132 11,325 1 3 , 2 4 6 1 3 , 3 4 6 14,206 12,193
do. . . .
5,157
5,356
5,159
6,149
MA
NA
7,483
do. . . .
3,467
3,284
3,623
3,875
4,591 5,279
3,546
A.r.,bil.dol. j
99.0
108.3
114.6
124.1
119.6
NA
NA
4,059
-14.2
NA
-32.8
NA
NA
14.5
17.0
19.2
7.0
4.4
0.8
NA
18.5
3.8
517
525
548
564
11,955 15,136 16,783 17,705 1 8 , 2 6 3 17,678 18,642
2,483
2,896
3,368
3,430
3,131
3,024
3,083
2,500
3,009
3,221
3,391
3,711
3,620
3,943
1 4 , 3 3 3 17,195 19,083 2 1 , 0 6 4 19,910 2 0 , 5 2 8 19,893
3,278
4,676
5,968
6,782
6,329
7,191
6,611
1,725
1,853
1,887
1,965
1,851
1,999
1,843
NA
NA
NA
NA
NA
NA
5.5
-1.9
8.9
-3.1
NA
NA
NA
NA
NA
NA
5.5
1.8
5.3
10.4
13.6
4.1
3.2
-8.7
9.4
-5.5
-6.7
-5.8
602
604
606
612
614
616
D. Government Activities
D1. Receipts and Expenditures
501. Federal Government receipts
502. Federal Government expenditures
500. Federal Government surplus or deficit 2
51 1 . State and local government receipts
512. State and local government expenditures . . . .
510. State and local govt. surplus or deficit 2
D2. Defense Indicators
51 7
525.
548
564.
Defense Department obligations
Military prime contract awards
New orders defense products
National defense purchases
E. U.S. International Transactions
El. Merchandise Trade
602.
604.
606.
612.
614.
616.
Exports, total except military aid
Exports of agricultural products
Exports of nonelectrical machinery
General imports, total
Imports of petroleum and products
Imports of automobiles and parts
Mil.dol.
do.
do.
do.
do.
do.
...
. ..
...
...
...
. ..
-l'.3
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Unit
of
measure
Series title
Percent change
Average
1st Q
1979
2dQ
1979
3dQ
1979
4th Q
1979
IstQ
1980
2dQ
1980
3dQ
to
4th Q
1979
4th Q
to
IstQ
1980
1977
1978
1979
30,204
37,922
-7,718
8,147
3,650
46,177
48,543
-2,366
35,514
43,953
-8,440
10,743
5,518
55,260
57,560
-2,301
45,514
52,881
-7,367
16,492
8,365
71,627
70,408
1,220
41,805
46,919
-5,114
14,263
7,225
65,667
62,935
2,732
42,815
50,885
-8,070
15,250
7,980
67,763
67,873
-110
47,198
54,258
-7,060
18,050
8,731
74,773
72,267
2,506
50,237
59,462
-9,225
18,407
9,524
78,305
78,555
-250
8.9
6.4
54,708 54,686
10.3
9.6
65,583 62,456
10,875 - 7 , 7 7 0 -2,165 -1,650
20,548
2.0
11.6
NA
NA
9.1
9.5
10,425
9.0
85,325
NA
4.7
MA
8.7
9.5
86,016
-441
NA - 2 , 7 5 6
-691
1340.5
1899.5
1327.4
1305.1
929.5
6,180
4,285
1399.2
2127.6
1385.1
1458.4
972.6
6,401
4,449
1431.6 1 4 3 0 . 6
2368.8 2292.1
1421.9 1418.4
1 6 2 4 . 3 1572.2
994.8
996.6
6,494
6,512
4,512
4,536
1422.3
2329.8
1404.1
1601.7
993.0
6,460
4,510
1433.3
2396.5
1426.2
1640.0
993.4
6,494
4,501
1440.3
2456.9
1439.0
1683.1
996.2
6,509
4,502
1 4 4 4 . 7 1410.9
2520.8 2524.6
1 4 4 4 . 4 14C'. . '->
1 7 3 7 . 4 1755.0
983.4
998.5
6,514
6,348
4,502
4,425
IstQ
to
2dQ
1980
3
c
.2?
£
II. OTHER IMPORTANT ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
618.
620
622
651
652
668
669
667
Mil. dol
Merchandise exports
Merchandise imports
Merchandise trade balance2
Income on U.S. investments abroad
Income on foreign investment in the U.S
Exports of goods and services
Imports of goods and services
Balance on goods and services 2
do
do
.do
..do
.do
.do. .
do
..
0.
-4.8
3,105
NA
NA
NA
NA
NA
618
620
622
651
652
668
669
667
A. National Income and Product
A1. GNPand Personal Income
A.r., bil.dol
GNP in 1972 dollars
GNP in current dollars
do. . . . . . .
.......do
Final sales, 1972 dollars
Disposable personal income, current dollars . . .
do
do
Disposable personal income, 1972 dollars
A.r., dollars . . . . . .
Per capita GNP in 1972 dollars
do
Per capita disposable pers. income, 1972 dol. . .
50.
200.
213.
224.
225.
217
227.
0.5
2.5
0.9
2.6
0.3
0.2
0.
0.3
2.6
0.4
3.2
0.2
0.1
0.
-2.3
0.2
-2.5
1.0
-1.5
-2.5
-1.7
50
200
213
224
225
217
227
912.6
127.4
349.1
436.1
1628.6
195.7
654.8
778.0
1.0
-0.1
1.7
0.9
3.4
1.3
4.3
3.2
0.1
-0.9
-0.3
0.8
3.1
1.9
3.4
3.2
-2.6
-12.4
-1.4
-0.2
-0.1
-11.1
0.4
2.7
231
233
238
239
230
232
236
237
A2. Personal Consumption Expenditures
231
233
238
239
230
232
236.
237.
A r bil dol
do
do
do
do
do
do
do
Total 1972 dollars
Durable goods 1972 dollars
Nondurable goods 1972 dollars
Services 1972 dollars
Total current dollars
Durable goods current dollars
Nondurable goods, current dollars
Services, current dollars
900.8
924.5
861.7
146.7
147.1
138.2
332.7
343.3
349.1
390.8
410.8
428.3
1210.0 1350.8 1509.8
178.8
213.0
200.3
481.3
596.9
530.6
619.8
549.8
699.8
921.8
150.2
348.1
423.5
1454.2
213.8
571.1
669.3
925.9
935.4
915.0
936.5
144.8
146.7
146.9
145.4
349.2
344.1
354.1
355.1
426.1
429.9
433.6
437.0
1 4 7 5 . 9 1528.6 1 5 8 0 . 4 1 6 2 9 . 5
213.4
208.7
216.2
220.2
581.2
604.7
630.7
652.0
686.0
710.6
733.5
757.3
A3. Gross Private Domestic Investment
241
243
30.
240
242
245.
Total 1972 dollars
Total fixed investment 1972 dollars
Change in business inventories, 1972 dol.2 . . . .
Total current dollars
Total fixed investment current dollars
Chg. in bus. inventories, current dol. 2
do
do
do
do
do
do
200.1
186.9
13.1
303.3
281.3
21.9
214.3
200.2
14.1
351.5
329.1
22.3
215.2
205.5
9.7
387.2
369.0
18.2
217.2
204.9
12.3
373.8
354.6
19.1
221.7
203.5
18.1
395.4
361.9
33.4
214.2
207.1
7.1
392.3
377.8
14.5
207.7
206.3
1.4
387.2
381.7
5.6
203.2
202.9
0.3
387.7
383.0
4.7
189.0
185.7
3.3
370.3
356.7
13.6
-3.0
-0.4
-5.7
-1.3
1.0
-8.9
-2.2
-1.6
-1.1
0.1
0.3
-0.9
-7.0
-8.5
3.0
-4.5
-6.9
8.9
241
243
30
240
242
245
do
do
do
do
do
do
268.5
100.6
167.9
396.2
144.4
251.8
273.2
98.6
174.6
435.6
152.6
283.0
274.3
99.4
174.9
476.4
166.6
309.8
274.7
101.1
173.6
460.1
163.6
296.5
272.4
98.1
174.3
466.6
161.7
304.9
273.1
97.4
175.6
477.8
162.9
314.9
277.1
101.1
176.0
501.2
178.4
322.8
280.0
104.3
175.7
517.2
186.2
331.0
281.3
106.9
174.3
528.3
193.3
335.0
1.5
3.8
0.2
4.9
9.5
2.5
1.0
3.2
-0.2
3.2
4.4
2.5
0.5
2.5
-0.8
2.1
3.8
1.2
261
263
267
260
262
266
do
do
do
do
do
do
98.4
88.2
10.3
175.9
185.8
-9.9
103.9
97.9
11.0
207.2
217.5
-10.3
119.9
102.3
17.6
257.5
262.1
-4.6
117.0
100.0
17.0
238.5
234.4
4.0
116.0
102.9
13.2
243.7
251.9
-8.1
122.2
102.1
20.1
267.3
269.5
-2.3
124.3
104.1
20.1
280.4
292.4
-11.9
131.7
106.7
25.0
308.1
321.7
-13.6
128.4
100.4
28.1
307.1
309.7
-2.5
1.7
2.0
0.
4.9
8.5
-9.6
6.0
2.5
4.9
9.9
10.0
-1.7
-2.5
-5.9
3.1
-0.3
-3.7
11.1
256
257
255
252
253
250
1869.0 1897.9 1941.9
1411.2 1 4 3 9 . 7 1 4 7 2 . 8
129.0
130.3
129.3
180.8
178.9
176.6
27.3
26.6
26.8
122.6
131.5
125.6
1990.4
1513.2
134.5
176.4
27.0
139.2
2035.4 2026.9
1555.2 1567.2
130.0
119.5
175.0
156.0
27.0
27.3
157.0
148.1
2 .5
2.7
3.2
-2.4
1.5
5.9
2.3
2.8
-3.3
-0.8
0.
6.4
-0.4
0.8
-8.1
-10.9
1.1
6.0
220
280
282
286
284
288
-1.5
-0.6
7.9
-8.3
0.2
-0.2
3.5
29.8
-29.5
1.1
290
295
292
298
293
A4. Government Purchases
of Goods and Services
261.
263
267
260
262.
266.
Total, 1972 dollars
Federal Government 1972 dollars
State and local governments 1972 dollars
Total, current dollars
Federal Government, current dollars
State and local governments, current dollars . . .
256
257.
255.
252.
253.
250.
Exports of goods and services 1972 dollars
Imports of goods and services, 1972 dollars . . .
Net exports of goods and serv., 1972 dol.2
Exports of goods and services, current dol
Imports of goods and services, current-dot
Net exports of goods and serv., current dol.2 . .
A5. Foreign Trade
A6. National Income and Its Components
220
280
282.
286.
284.
288
National income
Compensation of employees
Proprietors' income with IVA and CCA
Corporate profits with IVA and CCA
Rental income of persons with CCA
Net interest
290.
295
292
298.
293.
Gross saving (private and govt.)
Business saving
Personal saving
Government surplus or deficit 2
Personal saving rate 2
. ..
do
do
do
do
do
do
1525.8 1724.3 1924.8
1156.9 1 3 0 4 . 5 1 4 5 9 . 2
116.8
130.8
100.3
167.7
178.2
150.0
24.7
25.9
26.9
94.0
109.5
129.7
A7. Saving
do
do
. do .
do
Percent
276.1
230.7
65.0
-19.5
5.0
324.6
253.0
72.0
-0.3
4.9
363.9
275.9
73.8
13.2
4.5
362.2
266.0
79.2
15.8
5.0
374.3
274.6
85.9
12.7
5.4
367.3
281.9
70.3
14.0
4.3
351.9
281.0
59.7
10.0
3.5
346.6
279.2
64.4
1.7
3.7
345.8
288.9
83.6
-27.8
4.8
-4.2
-0.3
-15.1
-4.0
-0.8
NOTE: Series are seasonally adjusted except tor those indicated by®, which appear to contain no seasonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise specified. For complete series titles (including composition of the composite indexes) and sources, see 'Titles and Sources of Series" at the back of BCD. NA = not available, a = anticipated.
EOP = end of period. A.r. = annual rate. S/A = seasonally adjusted (used for special emphasis). IVA = inventory valuation adjustment. CCA = capital consumption adjustment. NIA = national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
2
Differences rather than percent changes are shown for this series.
3
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all turns: L = leading; C = roughly coincident; Lg = lagging; U = unclassified.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the fast figures ier the period.
6
This series is a weighted 4-term moving average (with weights 1, 2, 2,1) placed at the terminal month of the span.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
(Nov.) (Oct.)
P
T
(July)(May)
P
(Aug.)(Apr.)
(Apr.KFeb.)
F T
P I
T
(Dec.) (Nov.)
P
T
(Nov.) (Mar.)
P
T
910. Index of twelve leading indicators (series 1. 3. 8. 12, 19. 20. 29. 3Z 36. 9Z 104. 106)
s
^
"
-23
-2
-3
-6
-2
-4
920. Index of four roughly coincident indicators (series 41, 47, 51, 57)
-2
tie
-1
120-
Index of six lagg^l indicators (series 62, 70, 72, 91, 95, 109)
V/xx^
•H3
110-
no908070-
60-
50-1
1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
NOTE: Numbers entered on the chart indicate length of leads (-) and lags (+) in months from reference turning dates.
Current data for these series are shown on page 60.
10
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
(Nov.) (Oct.)
P
T
(Aug.) (Apr.)
P T
(July)(May)
P I
(Apr.) (Feb.)
P T
(Nov.) (Mar.)
P
T
(Dec.) (Nov.)
p
i
913. Marginal employment adjustments (series 1, 2, 3, 5)
Index: 1967=100
llO-i
120-
914. Capital investment commitments (series 12, 20, 29)
-10
"30
-Z
110- -
-13
m
LU
915. Inventory investment and purchasing (series 8, 32, 36, 92)
100- ~
90 -
120310- '
100™ I
90110
1009n «
916. Profitability (series 19, 26, 80)
80
917. Money and financial flows (series 104, 106, 110)
80-
^S
-22
-2
-3
940. Ratio, coincident index to lading index
-11
7 vy vs f
iir
\
jjjTf
r
/\/
^v
11010090-
\
8070-
1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
NOTE: Numbers entered on the chart indicate length of leads (-) and lags (+) in months from reference turning dates.
Current data for these series are shown on page 60.
11
CYCLICAL INDICATORS
A I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
(Nov.) (Oct.)
P
T
(July)(May)
P T
(Aug.)(Apr.)
P T
(Dec.) (Nov.)
P
T
(Apr.)(Feb.)
P T
(Nov.) (Mar.)
P
T
1. Average workweek, production workers,
malafeeturinfi' (mis)
li I I
4039O-i
3. Layoff rate, manufacturing (per 100 employees—inverted scale)
12344035-
_/
8. New orders fw consumer goods aid materials, 1972 dollars (bil. dol.)
V
302520-
15-
32. Vendor performance, percent of companies reporting slower deliveries (percent)
100-
tiui
7550-
25-
150140130120-
12, Net business formation (index: 1967-100)
11010018n
16141210-
20. Contracts and orders for plant and equipment,
6-
4J
1948 49
50
51
52
53
54
55
56
57 58
59
Current data for these series are shown on pages 61, 64, 65, and 66.
http://fraser.stlouisfed.org/
12
Federal Reserve Bank of St. Louis
60
61
62 63
64 65
66
67 68
69
70
71 72
73
74
75
76
77
78 79 1980
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
(Nov.) (Oct.)
P
T
(July)(May)
P
T
(Aug.)(Apr.)
P
T
(Apr.)(Feb.)
P
(Dec.) (Nov.)
T
P
T
(Nov.) (Mar.)
P
T
29. New building permits, private housing units (Index: 1967=100)
36. Net change in inventories on hand and on order, 1972 dollars, smoothed1 (ann. rate, bil. dol.)
92. Change in sensitive prices, smoothed1 (percent)
104. Change in toy liquid assets, smoothed1
19. Stock prices, 500 common stocks
106. Money supply-M2-in 1972 dollars (bil. dol.)
1948 49 50 51 52 53 54 55 56 57 58 59 60
61 62 63
64 65 66 67 68 69 70
71 72 73 74 75 76 77 78 79 1980
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, and 71.
13
CYCLICAL INDICATORS
A
I
COMPOSITE INDEXES AND THEIR COMPONENTS— Continued
Chart A3. Coincident Index Components
(Nov.) (Oct.)
P
i
(July)(May)
P T
(Aug.)(Apr.)
P T
(Apr.)(feb.)
P T
(Dec.) (Nov.)
P
T
(Nov.) (Mar.)
P
T
95"
/
/
^^
m
s^^s
41. Employees on nonagricultural payrolls (millions)
|c,c,c|
90-
85-
80-
;«,«
^^^^
/
:
i
47. Industrial produdion, total (index: 1967=100)
57. Ifcmtidiiil «d In* ate, 1972 dota! (ML M)
1948 49
50
51
52
53
54
55
56
57
58
59
Current data for these series are shown on pages 62, 63, and 65.
http://fraser.stlouisfed.org/
14
Federal Reserve Bank of St. Louis
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79 1980
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
(Ju!y)(May)
P
r
(AugHApr)
p T
(Apr.)(Feb.)
p T
(Nov.) (Mar.)
P
T
91. Average duration of unemployment (weeks—inverted scale)
|i-g,Lg,lgl
70. Manufacturing and trade inventories, 1972 dollars (bil. dol.)
62. Labor cost per unit of output, manufacturing (index: 1967=100)
"1
ib-4
109. Average prime rate charged by banks (percent)
z
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (bil. dol.)"
14-
95. Ratio, consumer installment debt to personal income (percent)
|Lg,Lg,LgI
1948 49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79 1980
Current data for these series are shown on pages 62, 68, 70, and 73.
15
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart Bl. Employment and Unemployment
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Mar.)
T
1. Average workweek, production
4241-
40-
3938-
21. Average weekly overtime hours,
432-
2. Accession rate,
54-
3-
5, Average weekly initial daims, State
200-
300-
400500-
600700-
3, Layoff rate, manufacturing (per 100
123432-
1-
1956 57
58
59
60
61
62
63
Current data for these series are shown on page 61.
http://fraser.stlouisfed.org/
16
Federal Reserve Bank of St. Louis
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
Coilffehensive EHiyment
48. Employee-hours in
(ann. rate, bil.
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on pages 61 and 62.
urn
17
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
(Aug.) (Apr.)
P
( A p r , ) (Feb.)
T
P
T
bU-
,
90. Ratio, civilian employment to total population of working age (percent)
_r
,^
X^
/n^
>
^
59-=
1
58-
J
57-
Vxv
IU»12,U|
XAA
^^\
!-!»_
. /v^v/h^\
yv^^^^
\ /J^*^
ws/^
\
^Vv^
A^^
56-
\fJ
b5-
|Cojtt|fehenslve
37. Number unemployed, total (millions-inverted scale)
43. Unemployment rate, total (percent-inverted scale)
3-1
|L,Lg,U|
^/
5-
6-
\
V
45. Average weekly insured unemployment rate (percent-inverted scate)
34.
5-
91. Average duration of unemployment (weeks-inverted scale)
1012141618-
44. Unemployment rate, persons unemployed 15 weeks and over (percent-inverted scale)
2-
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 62.
18
AllfillCT inon
lent
CYCUUV, i^T/fORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
1600'
1500'
| Coip|fflhensive Ott^itt and income]
1400
50. GNP in 1972 dollars, Q (ann. rate, bil. dot)
1300'
1200'
11001000800-
;jnf
HI
52. Personal income in 1972 dollars (ann. rate, bil. *l)
/-
"1
1100*1
JflOi'-j
90" -4
51. Personal income less transfer payments in 19/ii ooiiars
(ann. rate, WL dol.)
53. Wages and salaries in mining, manufacturing, and
construction in 1972 dollars (ann. rate, bil. dot}
260
\
240
2?0
200
180160140-
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 63.
http://fraser.stlouisfed.org/
AUGUST 1980
Federal Reserve Bank of St. Louis
!!€!»
19
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
mm
(Dec.) (Nov.)
P
T
(Nov.)
(Mar.)
1967=100)
47. Industrial production,
74. Industrial production, nondurable ninufactures
(index: 1967=100)
49. Value of goods outout in 1972 dobrs. 0
83. Rate of capacity utilization,
82. Rate of capacity utilization,
84. Rate of capacity utilization,
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 63 and 64.
20
AUGUST 1980
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Mar.)
T
|Qrg§8ndD6liv
durable
dollars (bit. dot.
LL
7. New orders, durable goods
(hi. dot)
[LLL|
V
8. New orders
in 1972
25. Change in unfilled orders, durable
(bil. dol.; MCD moving avg.
96. Manufacturers' unfilled orders.
32. Vendor performance,
reporting slower
L,LL
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 64.
21
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS— Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Nov.)
(Mar.)
P
T
T
IC^fetfmption and^sdej
75. Industrial production, consumer goods
(index: 1967=100)
C.LC
54. Sales of retail stores in current dollars (bil. dol.)—
59. Sales of retail stores
55. Personal consumption expenditures, automobiles, Q
(arm. rate, bil dot)
58. Index of consumer sentiment (1st Q 1966=100)
' \
\y
/^\^^^r^^
\/%^v\
'
1MJJ
x
\ ^ * '*~f\Vi
v v
s*
VV/
1956
57
58
59
60
61
62
63
Current data for these series are shown on page 65.
22
64
65
66
67
68
69
70
71
72
73
74
75
r^^Wu
V.
^\N\.
9080-
Tl
V
76
77
78
79
80
7060sn-
1981
CYCLIC vL f.^fcAIOWi,
BI
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
160-
| Forfmtion of Bujl^s Enterprises |
140-
1Z Net businessformation(Wfe? 1967=100) full
120100 50 T
35 '
13. New business incorporations (thousands)
*£
3C-
' 14
I Business Investment Commitments}
20. Contracts and orders for plant and equipment
in 1972 dollars (bil. dot.)
10. Contracts and orders for part aid equipment
in current dollars (bil. del)
27. Manufacturers' mt orders, capital goods industries,
nondefense, in 1972 dollars (bil. dol.) X
L.L.L
24. Manufacturers' new orders, cajMtal goods industries,
nondeense, n curren dollars (bil. dol.
L vtf» y ! \ ^
FnT^T
9. Construction contracts, commercial and industrial buildings ?
(mil. sq. ft. of floor area; MCD moving avg.-6-term)1
1956 57
1
58
59
60
61
62
63
34
65
68
67
68
69
70
7.1
72
73
74
75
76
77
78
79
80 198].
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.
shown on pages 65 and 66.
Current data for these series are
CYCLICAL INDICATORS
BI
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
lnmtitBIICommitments-Con.1
11. New capital appropriations,
97. Backlog of capital
(bil. dot.)
61. Business
(arm. rate, bil. dot
$ {nvestrr^lExpendituresI
69. Machinery and equipment
construction expenditures (
76. Industrial production,
(iratee 1967=108)
1956
57
58
59
60
61
62
63
64
Current data for these series are shown on pages 66 and 67.
24
65
66
67
68
69
70
71
77
78
79
80 1981
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued
Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
Expenditures—Con,
iresidential fixed investment in 1972 dollars, Q (ann.
on Commitments and investment
28. New private housing
Lit
29. New building permits,
U
Residential fixed fcwrfn^S«fcil.
(ann. rate, bil. dol.)
1956
57
58
59
60
61
62
63
Current data for these series are shown on page 67.
64
65
66
67
68
69
70
in 197?
71
72
73
74
75
76
77
78
79
80
1981
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Continued
Chart B5. Inventories and Inventory Investment
llmmttory Investmeitl
^
30. Change in business inventories, 1972 dollars, Q (am. rate, bil. del)
. fun
36. Net change in inventories on hand and on
order. 1972 dollars
(ann. rate, H. do!.; moving avg.—44erm1)
31. Change in book value, manufacturing and trade inventories I
(ann. rate, bil. do).; MCD moving avf.-6-temi)
j
38. Change in stocks of materials and supplies on hand and on order,
manufacturing (bil. dol.; MCD moving avg.—4-term)
1956 57
1
58
59
60
61
62
63
64
65
66
67
68
69
70
71
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
FRASER
Current data for these series are shown on page 68.
Digitized for
http://fraser.stlouisfed.org/
Federal Reserve
?R Bank of St. Louis
72
73
74
75
76
77
78
79
80 1981
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment—Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
500450-
|ln^|ories on HS/and on Order]
400350-
and trade inventories,
71. Book
current
300250-
70. Manufacturing and trade inventories, 1972 dollars (bil. dol.)
65. Book value of manufacturers' inventories
of finished goods (M, dol.)
/
77. Ratio, deflated inventories to sales, manufacturing and trade
("*) li?uul
% 7 i * 7
78. Stocks of materials and supplies on hand and on order,
manufacturing (bil. dol)
fulffi
J
7
60-
40 J
1956
57
58
59
60
61
62
63
Current data for these series are shown on page 68.
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Mar.)
T
+6+4-
92. Change in sensitive prices (percent;
, . AftU ,
+20-
-2J
340300260220180-
23. Industry materials prices (index:
140-
100120100-
19. Stock prices, 500 common
60J
160140120-
|Pr(JtandProfit»gins|
10080-
profits after taxes, 1972 dollars, Q
rate M. doD
60-
40-
100908070605040-
30-
79. Coroorate profits after taxes with
20-
1956 57
1
58
59
Digitized for
http://fraser.stlouisfed.org/
Federal Reserve
9R Bank of St. Louis
60
61
62
63
64
65
66
67
68
69
70
71
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
FRASER
Current data for these series are shown on page 69.
72
73
74
75
76
77
78
79
80 1981
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
ratio, corporate
income, Q
profits (after tdxes) with
adjustments to total corporate domestic income,
15. Profits (after taxes) per dollar of sales, all
sector, Q
26. Ratio, price to unit labor cost,
35. Net cadi flow, corporate, in 1972 dottarc, Q
(»L i* HL do!)
in current dollars, Q
34. Net cash flow,
(ann. rate, bil.
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 69 and 70.
http://fraser.stlouisfed.org/
•fS •• Aii/Mir»-r noon
Federal Reserve Bank of St. Louis
29
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS— Continued
Chart B6. Prices, Costs, and Profits— Continued
| Unit Labor Costs and Labor Share]
63. Unit labor cost, private business sector, Q
(index: 1967=100) [u
68. Labor cost (current dollars) per unit of gross domestic product
(1972 dollars), nonfinancial corporations, Q (dollars)
6Z Labor cost per unit of output, manufacturing (index: 1967=100)
64. Compensation of employees as a percent of national income, Q (percent)
Current data for these series are shown on page 70.
30
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
85. Change in money supply Ml-B
(percent; MCD moving avg.—6-term) «
102. Change in money supply M2
(percent; MCD moving avg.-6-term) |l,C,U| J
104. Change in total liquid assets (percent; moving avfc—4-term1)
K
171
v
11,1,11
105. Money supply-Mi-B-in 1972 dollars (bil. dol.) 1
ftul
106. Money supply-M2-in 1972 dollars (bil. dol.)
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 71.
http://fraser.stlouisfed.org/
AUGUST 1980
Federal Reserve Bank of St. Louis
ItCII
31
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Dec.) (Nov.)
P
T
33. Change in mortgage debt
(Mar.)
T
U. dot.)
LLL
112. Change in bank loans to businesses (atfi rate, bil.doi.: i|
MCD moving avg.-6-tenn)
113. Change in consumer mstJmMt 4fett (ana rate, bH. dot)
LLL
110. Total private borrowing, Q (ann. rate, bH. doL)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 71 and 72.
32
AUGUST 1980
IUII
CYCLICAL
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
14. Current liabilities of business
inverted scale: MCD moving avg
a
!r V fy*
In!
39. Delinquency rate, 30 days and over, consumer installment
infittWIi—-IIWMTOn ££««!I
'
ft I I
93. Free reserves (bil. dd-inverted scale)
OOi
94. Member bank borrowing from
the Federal Reserve (bH. dol.)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 72.
http://fraser.stlouisfed.org/
AUGUST 1980
Federal Reserve Bank of St. Louis
33
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
[interest Rates!
119. Federal funds rate (percent)-
114. Treasury bill rate
(percent) f c 7 [
116. Corporate bond yields (percent)-
115. Treasury bond yields (percent)
118. Secondary market yields on FHA mortgages (percent)
117. Municipal bond yields (percent)
Current data for these series are shown on pages 72 and 73.
http://fraser.stlouisfed.org/
34
Federal Reserve Bank of St. Louis
AIIHIIQT 100ft
itri
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
[interest Rates—ConJ
67. Bank rates on short-term business loans (percent)
109. Average prime rate charged by banks (percent)
[Outstanding Debt|
Current data for these series are
66. Consumer installment debt (bil. dol.)
7Z Commercial and industrial loans outstanding,
weekly reporting large commercial
banks (bil. dol.)
shown on page 73.
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
Chart Cl. Diffusion Indexes
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
mm
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
indicator eomponert^^-ma span—, l^gpan---)
951. Four roughly coincident indicator components (6-mo. span—, 1-mo. span—)
mi Six lagging indicator components pno. span—, 1-m
Average workweek, production workers, manufacturing-20 industries (9-mo.
, 1-mo. span—)
962. Initial dams, State unemployment insurance—51 areas (percent declining; 9-mo. span—, 1-mo. span—)
&£';•;',c
t
.
=f^"<"
< .< '-\ ,
50-
963. Employees on private nonagfcultural payroHs-l?| |dustries (6-mo. span***-*, 1-mo. span—)
50-
O-i
1956
57
58
59
60
61
62
63
data for these series are shown on page 74.
Digitized forCurrent
FRASER
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
964. New outers, durable
(9-mo.
span—)
965. Nevdy approved capital appropriations, detiated-1
966. Industrial production-24 industries
967. Industrial materials prices-13 industrial
(9-mo. span—, 1-mo. span—)
968. Stock prices, 500 common
960. Net profits, manufacturing-about 700 companies1 (4-Q span)
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current data for these series are shown on page 75.
37
DIFFUSION INDEXES AND RATES OF CHANGE— Continued
Chart Cl. Diffusion Indexes— Continued
Percent rising
970. Business expenditures for new plant and
equipment—18 industries (1-Q span)
974. Number of employees, manufacturing and trade (4-Q span)1
(b) Later anticipations
975. Level of inventories, manufacturing and trade (4-Q span)1
(a) Actiiil
\
(c) Early anticipations
971. New orders, manufacturing (4-Q span)1
972. Net profits^ manufjchirin| and Jrade (4-^span)1
973. Net sales,
1
J»*j*aiEBL
976. Selling prices, manufacturing (4-Q span)1
977. Selling prices, wholesale trade (4-Q span)1
978. Selling prices, retail trade (4-Q span)1
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
surveys of about 1,400 business executives.
Current
FRASER data for these series are shown on page 76.
Digitized for
38
Dun & Bradstreet diffusion indexes are based on
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
Percent changes at annual rate
NOTE: Data for these percent
http://fraser.stlouisfed.org/
were published.
Federal Reserve Bank of St. Louis
910c. Composite index of twelve leading indicators
(series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
920c. Composite index of four roughly coincident indicators
(series 41, 47, 51, 57)
930c. Composite index of six lagging indicators
(series 62, 70 72, 91, 95, 109)
50c. GNP in constant (1972) dollars (1-Q
47c. Index of industrial production
48c. Employee-hours in nonagricultural establishments
51c. Personal income less transfer
payments in 1972 dollars
changes are shown occasionally in appendix C. The "Alphabetical index—Series Finding Guide" indicates the latest issue in which the data for each series
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Nov.)
P
(Dec.) (Nov.)
P
T
(Mar.)
T
i
2800-1
2600240022002000-
1800-
200. GNP in current dollars,
1600-
(ana rate; bit
140022002000-
n
1800160014001200-
223. Personal income In current dollars
(aim. rate, bil ckrf.)
1000-
800-
224. Disposable personal Income in current
dollar^ Q(ann. rate, bil.dol.)
uisposawe personal iicome in
0 ^nn rafp hil
217. Per capita GNP in 1972 dollars (ann. rate, thous. doH
2.5J
1956
57
58
59
60
61
62
63
64
Current
data for these series are shown on pages 63 and 80.
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
(Aug.) (Apr.)
P
T
1956
57
58
(Apr.) (Feb.)
P
T
59
60
61
(Nov.)
P
62
63
64
65
66
67
68
69
70
71
72
73
(Mar.)
T
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 80 and 81.
41
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
Annual rate, billion dollars (current)
Gross private domestic investment-
245. Change in business inventories, Q
Annual rate, billion dollars (1972)
30. Change in business inventories, Q
Current data for these series are shown on page 81.
http://fraser.stlouisfed.org/
Federal Reserve Bank
42 of St. Louis
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
Annual rate, billion dollars (current)
Government purchases of goods and services-
266. State and local
governments, 0
Annual rate, billion dollars (1972)
7?
7°
8° 1981
Current data for these series are shown on page 81.
http://fraser.stlouisfed.org/
IM .IB Aligner loan
Federal Reserve
Bank of St. Louis
43
OTHER IMPORTANT ECONOMIC MEASURES
IA
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
(Aug.) (Apr.)
P
T
(Nov)
P
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Mar.)
T
320280240200160-
252. Exports of-goods and services, Q
120-
80-
253. Imports of goods and services, Q
40 J
+30-
250. Net exports of foods and services, Q
+20+100-
-10-20-
Annud rate, billion doNars (1972
160140120-
256. Exports of goods and services, Q
1008060-
257. Imports of goods and services, Q
40-
+30-
/ ran
255. Net exports of goods and services, 0
+20-
\j
+100-
~101956
57
58
59
60
61
62
63
Current data for these series are shown on page 82.
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
OTHER IMPORTANT ECONOMIC MEASURES
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
rate, billion dollars (current)
Corporate profits with inventory valuation and capital
\
288. Nd interest, Q
Proprietors' income with inventoty vaJuatkm
ana capo consumption adjustments, u
with capital
consumption adjustment, Q
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 82.
45
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
Annual rate, billion dollars (current),
290. Gross saving (private and government), Q
298. Government surplus or deficit, Q
Current data for these series are shown on pages 82 and 83.
46
•trn
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
[Percent of GNP|
235. Personal consumption expenditures, Q
268. State and local government purchases
of goods and services, Q
265. Federal Government purchases of goods and services, Q
\
248. Presidential fixed investment, Q
249. Residential fixed investment,
247. Change in business inventories, Q
251. Net exports of goods and services, Q
[Percent of National Income!
64. Compensation of employees, Q
283. Proprietors' income with inventory valuation
and capital consumption adjustments, Q
Current data for these series are
287. Corporate profits with inventory valuation and
capital consumption adjustments, Q
289. Net interest, Q
X
285. Rental income of persons with capital consumption adjustment, Q ^
shown on page 83.
A ~l
OTHER IMPORTANT ECONOMIC MEASURES
BJ
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Nov.)
P
(Mar.)
T
311. Fixed-weighted
gross business
335c. Industrial commodities
1969
70
71
72
73
74
Digitized forCurrent
FRASER
data for these series are shown on
http://fraser.stlouisfed.org/
Federal Reserve
yin Bank of St. Louis
75
76
77
pages 84, 85, and 86.
78
79
1980
1969 70
71
72
73
74
75
76
77
78
79 1980
OTHER IMPORTANT ECONOMIC MEASURES
B
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart Bl. Price Movements—Continued
(Aug.) (Apr.)
P
(Dec.) (Nov.)
(Apr.) (Feb.)
(Nov.)
(Mar.)
T
Percent changes at annual rate
Chart B2. Wages and Productivity
345. Average hourly coi
nonfarm business
earnings of production workers,
economy (current dollars)1
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
1
Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
Current data for these series are shown on pages 84, 87, and 88.
FRASER
Digitized for
49
B
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
|Wages-Con.|
6-month spans (ann. rate)
Change in average hourly earnings of production
workers, private nonfarm economy1 —
340c. Current-dollar earnings
1-month spans2
)N
H11 iji
34k. Real earnings
6-month spans (ann. rate) •
Change in average hourly compensation, all employees,
nonfarm business sector, Q345c. Current-dollar compensation
(A
1-quarter spans (aim. rate) «
. >?, l\
w^
'V***
snam
4-quarterr spans
'
346c. Real compensation
1-quarter spans (ann. rate)
4-quarier spans
Negotiated wage and benefit decisions, all industries—
348. First year average changes, Q (ann. rate)—
349. Average changes over life of
contract, Q (ann. rate)
| Productivity]
370. Output per hour, all persons,
private business sector, Q
358. Output per hour, all persons, nonfarm business sector, Q
370c. Change in output per hour, private business sector, Q
1-quarter spans (ann. rate)
X
4-quarter spans
1
2
Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonaiity.
One-month percent changes have been multiplied by a constant (12) to make
current data ta j<& fcr actual 1-month percent changes.
them comparable to the annuaSized 6-month changes. See the
Current data for these series are shown on pages 87 and 88.
http://fraser.stlouisfed.org/
Federal Reserve Bank
50 of St. Louis
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart Cl. Civilian Labor Force and Major Components
441. Civilian labor forte, total (millions)
Labor force participation rates (percent)451. Males 20 years and over
453. Both sexes 16-19 years of
452. Females 20 years and over
Number unemployed (millions)—
37. Total unemployed
448. Number employed part-time for economic
BBBffiT (mllllofiS)
UVj
~;/
E
">
59
6-
447. Number unemployed, full-time
workers (millions)
-A
Current data for these series are shown on page 89.
51
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
Annual rate, billion dollars (current)
600-1
550500450400350-
502. Federal Government expenditures, Q
300250-
200»
SOL federal Government receipts, Q
150-
100-
500. Federal Government surplus or deficit, Q
1
— «* ^^.''
?^t
^ /^
/
.»_
^^V^-V"'"""
y*v
^^T^
—
/
Tfc*7™1^^
N.
r
', '
V-
^^-^^
-r*^S«...-
Js^^
>
AA/
*^
A
v
^
r ^^\\
/
\
'
/
-."V
\
\
\
f
!• f\
/>•
; : > 1 »y
'
'
+100-10-20-30-40-
j
fnl
'^l:^' J j
If
^^1
-50-60~7Q-80-90-100450400350300250-
511. State and local government
200 -
512. State and local government expenditures, Q
100-
50 J
+40+30+20+100-10 J
and focal gpverrenent surplus or deficit,'
1956
57
58
59
60
61
62
63
data for these series are shown on page 90.
Digitized forCurrent
FRASER
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
OTHER IMPORTANT ECONOMIC MEASURES
I £) I
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
16-
e Mea$ure||j|}:Defense Activity!
14-
517. Defense Department
(bil. dol.; MCD
1210-
987-
525. Defense Department miiitarypnme contract awards
(bil. dol.; MCD moving
6-
4-
3-
10090807060-
unpaid obligations outstanding (bil. do!.}
5040-
J
6-
548. Manufacturers' new orders, defense products
(bil. dol.; M^iowti avg.-6-term)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 90.
53
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
[intermediate and Final Measures of Defense Activity|
557. Output of defense and space equipment (index: 1967=100)
559. Manufacturers' inventories, defense products (bil. dol.)
561. Manufacturers' unfilled orders, defense products (bil. dol.)
580. Defense Department net outlays, military functions and military
assistance (bil. dol.; MCD moving avg.-6-term)
588. Manufacturers'shipments, defense products
(bil. dol.; MCD moving avg.-4-terni)
A •
Current i'ata for these series are shown on page 91.
54
GOVERNMENT ACTIVITIES— Continued
\
Chart D2. Defense Indicators — Continued
[Intermediate and Final Measures of Defense Activity— Con. |
570. Employment in defense products industries (millions)
Defense Department personnel (millions)—
577. Military, active duty
578. Civilian, direct hire employment
[National Defense Purchases
564. Federal Government purchases of goods and services for national
defense, Q (ann. rate, bil. dol.)
565. National defense purchases as a percent of GNP, Q (percent)
Current data for these series are shown on page 91.
BCD AUGUST 1980
55
OTHER IMPORTANT ECONOMIC MEASURES
E I
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
(Aug.) (Apr.)
P
4-4-
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
-LEI
**60Z Exports, excluding military aid shipments
(bit. dot.; MCD moving avg.-5-tetm)
20-1
1816141210-
<
604. Exports of agricultural products,
Mai (bil. dol.r
"
606. Exports of nonelectrical machinery (W. dol.),
22-t
2018161412™
10g.
61Z General imports (bil. dol.; MCD moving a¥f,-4-term)
614. Imports of petroleum and petroleum products (bil. dol.)
616. Imports of automobiles and parts (bil. dol.)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
AUGUST
1980
Current data for these series are shown on page 92.
56
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
(Aug.) (Apr.)
P
(Apr.) (Feb.
T
P
T
(Nov.)
(Mar.)
P
T
Annual rate, billion dollar
Excess of
i
l
l Excess of
667. Balance on goods and services,
Merchandise, adjusted—
622. Merchandise trade balance,
618. Exports, Q-
Investment income651. income on U.S. investments abroad, Q
65Z Income on foreign investments in the U.S., Q
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.
http://fraser.stlouisfed.org/
II AUGUST 1980
Federal Reserve Bank of St. Louis
57
F
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
Industrial production—
728. Japan —^
721. OECD European countries
Jy
725. West Germany-
[71
Current data for these series are shown on page 94.
58
AUGUST 1980
IICII
INTERNATIONAL COMPARISONS—Continued
Chart F3. Stock Prices
Chart F2. Consumer Prices
Percent changes at annual rate
6-month spans
Stock prices—
Consumer prices—
320c. United States
748. Japan
735c. West Germany
736c. France
745. West Germany
746. France
742. United Kingdom
732c. United Kingdom
737c. Italy
733c. Canada
Current data for these series are shown on pages 95 and 96.
urn
„„
59
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
^H COMPOSITE INDEXES
910. Index of
12 leading indicators (series
1,3,8,12,19,
20, 29, 32, 36,
92, 104, 106)
Year
and
month
(1967=100)
920. Index of
4 roughly
coincident indicators (series
41,47,51,57)
(1967=100)
930. Index of 6
lagging indicators (series
62, 70, 72,
91,95,109)
Leading Indicator Subgroups
913. Marginal
employment
adjustments
(series 1,2,3,
5)
914. Capital
investment
commitments
(series 12, 20,
29)
915. Inventory
investment
and purchasing
(series 8, 32, 36,
92)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
916. Profitability (series
19, 26, 80) x
(1967=100)
917. Money
and financial
flows (series
104,106, 110)
(1967=100)
940. Ratio,
coincident
index to
lagging index 1
(1967=100)
1978
January
February ....
March
139.1
140.3
140.3
134.0
135.0
136.9
134.1
135.9
137.2
97.6
97.2
98.3
115.4
115.9
115.0
104.8
105.9
106.3
90.9
89.4
90.4
148.5
148.0
147.4
99.9
99.3
99.8
April
May
June
141.5
141.8
142.5
139.3
139.5
140.1
137.8
140.0
142.0
99.0
98.0
97.8
114.9
115.0
116.1
106.9
107.2
106.9
92.1
93.8
94.1
147.5
147.8
148.5
101.1
July
August
September
141.2
142.0
142.9
140.5
141.4
141.4
143.5
144.5
146.4
97.4
97.3
98.5
115.5
115.4
116.0
105.2
105.8
105.8
94.2
95.4
95.4
148.9
149.1
149.9
97.9
97.9
96.6
October
November
December
E>143.6
142,8
143.0
143.0
144.3
145.5
148.1
152.7
155.2
98.7
98.8
(H)99.1
i)117.2
116.1
115.7
106.1
106.2
106.7
94.9
94.1
93.5
150.6
D151.1
150.2
96.6
94.5
93.8
142.6
142.3
143.2
144.8
144.9
E>146.6
157.4
158.5
158.4
98.5
98.4
98.0
113.9
113.9
115.5
107.4
108.3
0)108.8
93.2
92.2
92.2
148.6
145.6
144.5
92.0
;
140.3
;
141.4
141.6
144.1
145.6
145.0
161.8
162.5
163.6
94.6
97.3
96.7
113.6
113.3
113.9
107.8
107.3
106.6
92.3
91.7
91.8
146.1
146.9
148.4
89.1
89.6
88.6
July
August
September .
141.2
r!40.1
H40.1
145.4
145.0
144.9
164.8
166.4
170.5
96.4
96.0
96.4
113.6
H12.9
H14.0
106.1
105.7
104.6
91.7
92.0
91.8
148.6
148.3
146.0
88.2
87.1
85.0
October
November .
December
H37.8
H35.6
r!35.4
145.1
145.1
145.3
175.9
179.0
177.9
96.6
96.1
96.3
H12.7
H12.0
H12.7
103.3
102.3
102.3
90.8
90.3
90.2
143.3
139.5
137.7
82.5
81.1
81.7
H34.9
r!34.3
H31.3
146.0
145.2
143.2
178.5
180.9
190.3
96.3
96.3
94.5
rlll.9
H10.3
H08.0
102.7
102.3
101.7
89.9
89.8
r88.3
137.0
138.5
138.2
81.8
80.3
75.2
H26.1
123.2
125.0
H40.5
H37.6
135.9
U)r 196.1
H83.6
168.2
90.3
88.3
r89.6
H05.0
H04.1
H07.8
100.0
r98.3
r97.3
136.0
134.9
r!35.1
r71.6
r74.9
r80.8
p92.1
p!09.4
p99.5
p!38.3
p81.9
99.6
98.7
1979
January
February
March
April
May
June
|
91 .4
92.6
1980
January
February . . .
March .
April
May
June ...
!
July
August .
September
2
3
130.7
"134.2
5
163.9
r88.0
r88.4
(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, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
Series 916 reached its high value (97.2) in August 1977; series 940 reached its high value (106.6) in March 1977.
2
Excludes series 12 for which data are not yet available.
3
Excludes series 12 and 36 for which data are not yet available.
''Excludes series 57 for which data are not yet available.
5
Excludes series 70 and 95 for which data are not yet available.
60
AUGUST 1980
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
BB EMPLOYMENT AND UNEMPLOYMENT
Minor Economic
Process
Timing Class
1. Average
workweek of
production
workers,
manufacturing
Year
and
month
L, L, L
L,C, L
L, L,L
(Hours)
2. Accession
21. Average
weekly overtime rate, manufacturing
hours, production workers,
manufacturing
(Per 100 employees)
(Hours)
L, Lg, U
L, Lg, U
L, C, L
L, L, L
5. Average
weekly initial
claims, State
unemployment
insurance1
3. Layoff rate,
manufacturing
4. Quit rate,
manufacturing
(Per 100 employees)
(Per 100 employees)
(Thous.)
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
L, Lg, U
60. Ratio, helpwanted advertising to persons
unemployed
46. Index of
help-wanted
advertising
in newspapers
(Ratio)
(1967=100)
u,c, c
48. Employeehours in nonagricultural
establishments
(Ann. rate,
bil. hours)
1978
January
February
March
. . .
April
May
June
39 7
40 0
40 5
3 4
4 i
3 7
3 6
3 9
4 0
338
364
335
1 0
1 0
1 0
1 9
1 9
2 0
0 652
0 680
0 682
138
139
141
159 30
160 83
162 59
[R^4f) Q
40 4
dn 4
3 8
3 5
4 2
4 0
A n
334
330
341
1 0
1 0
0 9
2 1
2 0
2 1
0 718
0 700
0 741
146
144
147
164 21
164 02
165 04
n Q
n Q
fu\ n «
2 1
2 1
0 712
0 753
0 758
1 AQ
150
1 R?
165 27
165 40
165 66
H)0.828
n PH R
n opi
161
i si
i ££
166.30
1 f\l QO
T co pn
O pi p
O pnn
-i r T
161
-i r-Q
1 00
1 £8 Zl°»
n
1 Rfi
1 70 ^?
1 RR
•JC7 en
-3
C
An ^
q
C.
A n
An A
q
C
An R
0
C
A 1
A 9
362
345
328
40.5
An fi
/in A
3.6
4.3
H>323
q 7
o. /
!u\/l
/I
[TV 4 . 4
January
February
March
/in
a
40. 0
/in £
4U.D
/in £
3
3 . 7/
4.d
April
May
June
jy . 6
/in 9
40.
£
/in i1
40.
2.y
3 .4/1
3 .0
0
4 .00
434
4 0
.0
^Rf)
4 0
.0
375
40.1
3.3
3.3
3.2
3.9
3.0y
395
390
qp,7
40.1
40.1
40.2
3.2
4 .1-1
4.0
3.9
January
February
March
40.3
40.1
39.8
3.2
3.9
3.0
3.1
3.9
3.6
April
May
June
39.8
39.3
39.1
3.0
3.0
3.0
July
August
September
October
November
December
q 7
4
0
p i
0.9
2.2
qqA
O
P
0
qqA
n n
2
P
O/I/I
O .y
O n
O Q
9 9
<-.<L
Iu\
P .c.
P
[H/ c.
9 1
Q
1979
QQ
July
August
September
O
40.1
40.1
October
November
December
-7
./
lo/j. /
[jj\q 7
Q
3.3
3.2
0
4 1
4
r\
3.9
qq/i
JJ4
qA7
Q
n
-\
I .0n
1 .L
0
0 ~i~i(\
0 777
0 7P.P
i CA
1 R^
1 AQ AR
1 .y
0 7P.1
0 7C q
/yu
0 . 7on
1 RR
1 RR
1 RQ
170 q7
I /U.v5/
T c7
1 7n RH
0
.4
9
n
£ .U
1 .2
1 .y
2 .0
2 .0
qQC
oyo
1 .L
409
407
1 .3
1.2
404
375
440
1 68 8fi
2 1
2 .Ur\
2 .U
0
1 .1
I/I
7QD
0
(TT\
1 7n
1 70
1Q
9f\
/IQ
i /u.^y
1 7n
1.9
O p! p
//O
0 . 77Q
0.778
1.3
1.3
1.5
1.9
1.9
1.9
0.714
0.713
0.670
154
151
145
0)172.24
172.09
171.57
569
635
617
2.9
3.5
r2.9
1.5
1.4
1.4
0.500
0.409
0.428
122
112
115
170.49
r!69.27
168.45
n cq£
nl
p i .7
/
nl
^
PI .6
0
0
0
In/ 1 b/
T CO
158
159
11 /U.
7n 7q
/o
171.47
1980
July
August
September
p39 ]
. . . .
r2.6
2 4
n?
p£ .Ro
3 3
q A
n
PO.H
nf|
/lOO
nl 1 Q
_ ~\ r-j
ro
p ID/ . bo
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 byH); for
series that move counter to movements in general business activity, current low values are indicated by[H>. Series numbers are for identification only and do net 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.
Graphs of these series are shown on pages 12, 16 and 17.
1
Data exclude Puerto Rico which is included in figures published by the source agencw
AUGUST 1980
61
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Ill
Minor Economic
Process
EMPLOYMENT AND UNEMPLOYMENT-Con.
Comprehensive Unemployment
Comprehensive Employment— Con.
Timing Class
Year
and
month
u,c,c
C, C,C
L, C, U
U, Lg, U
L, Lg, U
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
42. Persons
engaged in nonagricultural
activities, labor
force survey
41 . Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
37. Number of
persons unemployed, civilian
labor force
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate
State programs 1
91. Average
duration of
unemployment
44. Unemployment rate,
persons unemployed 15
weeks and over
(Thous.)
(Thous.)
(Thous.)
(Percent)
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
1978
January
February
March
89,425
89,653
89,813
84,582
84,892
85,396
24,871
24,909
25,085
58.03
58.03
58.09
6,305
6,088
6,153
6.4
6.1
6.2
3.5
3.6
3.5
13.0
12.6
12.4
1.6
1.6
1.5
April
May
June
90,468
90,818
91,141
86,104
86,368
86,746
25,460
25,481
25,599
58.42
58.56
58.76
6,056
6,126
5,902
6.1
6.1
5.9
3.2
3.2
3.2
12.4
12.0
12.1
1.5
1.4
1.3
July
August
September
91,046
91,457
91,598
86,924
87,231
87,419
25,657
25,719
25,801
58.60
58.76
58.78
6,228
5,929
5,971
6.2
5.9
5.9
3.3
3.3
3.2
11.9
11.5
11.5
1.3
1.2
1.3
October
November
December
92,024
92,488
92,456
87,790
88,242
88,567
25,965
26,141
26,267
58.95
59.08
59.06
H)5,788
5,882
5,984
5.7
5.8
5.9
3.0
3.0
3.0
11.8
11.1
10 6
1.3
1.2
1 2
92,897
93,189
93 303
88,858
89,109
89,455
26,363
26,377
26,537
59.19
59 33
59 31
5,904
5,883
5 882
5 8
5 7
5 7
3 0
3.0
3 0
11 2
11 3
11 8
1 2
1 2
1 3
93 039
93 249
93 409
89,386
89,708
89,909
26,473
26,522
26,557
59 05
59 11
59 13
5 944
5 903
5 824
5 8
5 8
5 7
o q
[J-T>? R
2 9
11 0
10 9
10 5
1 ?
1 2
1 i
93 917
90,054
90,222
90,283
26 582
26,528
26,554
59 37
59 19
[H>59 42
5 909
6 124
5 990
[MSR
in/ 3 .7/
5 9
5 8
o q
o q
2 9
fuM n i
93 689
94 140
94 180
94,223
94 553
90 441
90,552
qn £7«
26 554
26,504
9f\ RQfl
59 27
59.27
59 38
6 121
6,044
6 087
5 9
5.8
5 9
2 9
3.1
q T
10 5
10.6
10 5
1 2
1.1
1 2
6
in
IU. c
b
1 .3
1 .2
1.3
1979
January
February
March
April
May
June
....
July
August
September
..
October
November
December
107
10 7
n
In/ 1 .U
1 1
[uXi
1 1
1980
January
February
March
Q/I
Q/l 9QP
April
May
June
July
August
September
CO/I
llJ\Q/l ,D£D
£.0 £.
[H/yH
93,912
93,609
93,346
.
...
93 S 739
01 nqi
ftTSQl 1 8fi
Q1 1/1/1
90,951
r90,468
r89,973
p89 735
[LjNO£
71C
coq
CO Ofl
CO Of.
6
oc
A 7 £.
rn nn
/1 OO
6 ,43o
6.2
3.3
n .0
26,121
r25 745
r25 396
58.63
58 47
58 12
7,265
7.0
11.3
0
7
P,
3.7
A q
8
nn.fi
7
7
./
p25 075
co on
8
9O7
7 0
.0
Of.
£O,4/O
/IOC
c. qn.7
1 Cfl
0
c. n
q 0
3
4
-1
. 1
C
p4,5
10.7
in
ID. c
b
7
./
n
1.6
1 .6
1 .7
11 .6
1.8
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete 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.
Graphs of these series are shown on pages 14, 15, 17, and 18.
1
Data exclude Puerto Rico which is included in figures published by the source agency.
62
AUGUST 1980
IICII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR ECONOMIC
PROCESS
Qj PRODUCTION AND INCOME
Minor Economic
Process
Industrial Production
Comprehensive Output and Income
C,C,C
Timing Class
C,C,C
50. Gross national product
in 1972 dollars
Personal income
223. Current
dollars
and
month
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
52. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
C,C,C
C,C, C
51. Personal
income less
transfer payments in 1972
dollars
53. Wages and
salaries in
mining mfg
and construction in 1972
dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
C, C,C
47. Index of
industrial
production
total
(1967=100)
C,C,C
C, L, L
C,C,C
73. Index of
industrial
production
durable manufactures
74. Index of
industrial
production
nondurable
manufactures
(1967=100)
(1967=100)
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil.dol.)
1978
January
February
March
1,367.8
1 ,618.5
1,631.3
1 ,654 4
1,117 0
1 ,118.1
1 127 7
967 4
969.4
978 9
233 3
236.0
240 2
140 0
140 3
142 1
132 1
132 3
135 0
152 4
152 9
153 8
621 4
April
May
June
1,395.2
1 ,676 5
1 ,687.3
1 ,704.2
1 135 1
1 133 9
1,137 6
987 5
986 7
991 1
244 0
243 2
244 2
144 4
144 8
146 1
137 6
137 9
139 0
155 5
155 8
157 0
637 2
July
August
September
1 ,407 3
1 ,730 0
1 741 3
1 ,756 1
1 ,149 5
1 151 7
1 *154 6
998 5
1 000 3
1 004 1
245 3
244 5
245 1
147 1
148 0
148 6
141 1
141 8
142 9
157 2
1R8 4
159 3
641 8
October
November
December
1,426.6
1,781.0
1 ,801 .4
1,826.8
1 ,163 3
1 172 0
1 ,181 ' 6
1 ,013 0
1 021 4
1 030 5
246 3
248 7
250 7
149 7
150 6
151 8
144 6
145 5
146 8
159 5
160 4
161 7
657 3
January
February
March
1 ,834.3
1,851 4
1 ,872 1
1 172 8
1 172 5
1 177 4
1 021 9
1 022 6
1 027 0
249 4
250 3
0)251 6
151 5
152 0
0)153 0
146 8
147 2
0)148 6
160 7
1 ,430 6
April
May
June
1 880 7
1 891 6
1 905 1
l 174 n
1 172 7
1 1 72 4
i n?9 7
1 021 5
1 021 8
940 7
1 ,422 3
9AR Q
150 8
152 4
152 6
July
August
September
1 933 2
1 946 5
1 960 1
1 180 9
1 179 7
1 177 2
1 023 0
1 021 4
1 019 5
9Q.fi 1
1 433 3
243 1
242 6
October
November
December
1 ,440 3
1 981 2
2 005 5
2 028 3
1 181 4
1 188 1
0)1 191 0
1 023 5
1 030 6
JH)1 033 2
241 9
241 0
1 1 90 5
i rnn R
1 ,024.8
1 ,017.5
1979
1620
144 6
1 F\~l
1476
1 C9 Q
147 6
1 63 0
1 CO 0
1 ZL7
9
1 £A 1
1 C1 C
m
o
i £4 ^
1 CO A
~\A C
Q
1 A4 A
152 2
152 1
1 52 2
145 7
145 0
164 0
164 5
1 flfl r
If, A 7
239.1
236.5
152.6
152.3
151.7
144.7
144.1
143.3
0)166.1
165.1
164.4
rl ,164.4
rl,010.4
1 ,006. 1
rl ,005.0
231.8
r227.7
r224.5
H48.2
r!44.3
r!41.0
H38.5
r!33.5
H29.9
r!61.6
r!57.9
r!54.1
pi ,173.2
pi ,001.1
p222.5
p!38.8
p!27.5
p!51.2
948 9
941 fi
CCQ
C
C.AJ
Q
163 0
7
£ c i "q
655 1
1980
January
February
March
April
May
June
..
0)1 444 7
2 046 5
o ORR 7
2 PI7D n
2,071.5
rl 410 9
July
August
September
r? D7P 1
y,o n&o n
Fu\n9
£
(H;p<:, 117
( I /.b
Q9 1
1 , 11 OC
. 1
1 1 7/1 1
,1/4. 1
rl ,167.0
v>1
1 £.A
Q
239. 9
0)659.7 i
r638.t
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 by0); for
series that move counter to movements in general business activity, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 14, 19, 20, and 40.
AUGUST 1980
63
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
H
Minor Economic
Process
PRODUCTION AND
INCOME-Con.
^^ CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Capacity Utilization
L,C,U
Timing Class
83. Rate of
capacity
utilization,
manufacturing
(BEA)
Year
and
month
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
Orders and Deliveries
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L, L, L
L, L, L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil.dol.)
7. Constant
(1972) dollars
(Bil.dol.)
L, L, L
8. New orders
for consumer
goods and
materials in
1972 dollars
(Bil.dol.)
L, L, L
L, Lg, U
L, L, L
25. Change in
unfilled orders,
durable goods
industries
96. Manufacturers' unfilled
orders, durable
goods industries
32. Vendor
performance,
companies reporting slower
deliveries®
(Bil.dol.)
(Bil.dol.)
(Percent
reporting)
1978
January
February
March
82^6
82.*6
62.03
65.05
67.04
38.31
39.81
40.78
35.04
36.20
36.47
2.23
2.73
4.06
186.93
189.66
193.72
55
64
67
83^9
85!6
69.20
68.88
68.54
41.71
41.24
40.70
37.98
37.02
36.84
3.45
4.00
2.79
197.17
201.16
203.95
64
64
66
85.2
86.4
67.39
71.29
72.71
39.76
41.64
42.25
36.50
37.61
37.34
1.94
3.15
3.95
205.89
209.04
212.99
56
65
66
86.'i
[H)88!2
76.42
77.21
76.54
44.10
44.14
43.36
38.06
38.06
38.86
6.32
5.71
3.80
219.31
225.02
228.82
68
66
68
[H)86!7
8s!6
78.68
80.43
|H)81.65
44.16
44.68
1)45. 04
.H)38.94
38.43
38.63
5.91
1)7.10
5.89
234.72
241.82
247.71
69
77
H)78
85."9
87.'3
75.93
77.04
76.03
41.36
41.75
40.98
36.74
36.88
36.43
4.73
1.52
3.23
252.43
253.96
257.19
76
76
70
85^4
87.2
74.58
74.76
77.65
39.82
39.81
40.91
35.95
35.44
35.93
0.71
0.40
3.45
257.90
258.30
261.74
60
55
51
84.' 6
86.*3
76.52
75.90
77.20
39.71
39.15
39.43
35.60
34.34
34.19
0.98
2.15
3.01
262.72
264.87
267.88
50
47
49
83 !s
85*. 4
81.47
81.02
77.55
40.61
39.93
r38.28
36.10
36.00
r33.52
3.52
1.86
1.62
271.40
273.26
274.88
48
42
45
r7&\2
r78.9
72.42
67.33
r66.45
35.69
33.23
r32.42
30.43
29.03
r29.07
0.21
-2.12
r-2,60
0)275.10
272.98
r270.38
40
32
28
p72.06
p34.85
p32.10
pO.49
p270.88
32
*84
April
May
June
*84
July
August
September
. . .
*83
October
November
December
*84
1979
January
February
March
H>84
April
May
June
*83
July
August
September
..
*82
October
November
December
81
1980
January
February
March
. ...
April
May
June
(NA)
July
August
September
October
November
December
p80
. ..
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated byfj); for
series that move counter to movements in general business activity,current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete 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.
Graphs of these series are shown on pages 12, 20, and 21.
64
AUGUST 1980
KCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class
C.C.C
56. Current
dollars
(Mil. dol.)
C, L,C
C,C,C
57. Constant
(1972) dollars
75. Index of industrial producgoods
(Mil. dol.)
C, L,U
(1967=100)
U,L, U
Sales of retail stores
54. Current
dollars
(Mil. dol.)
FIXED CAPITAL
INVESTMENT
Formation of Business Enterprises
Consumption and trade
Manufacturing and trade sales
Year
and
month
H
Ql CONSUMPTION, TRADE, ORDERS, AND DELIVERIES-Con.
59. Constant
(1972) dollars
(Mil. dol.)
L, C, C
55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil.dol.)
L, L, L
58. Index of
consumer
sentiment © *
(1stQ
1966=100)
L, L, L
12. Index of
net business
formation
(1967=100)
L, L, L
13. Number of
new business
incorporations
(Number)
1978
January
February
March
232,748
238,854
241,915
148,346
151,393
153,449
143.2
145.2
147.5
62,220
63,040
64,100
42,881
43,149
43,665
62^3
83.7
84.3
78.8
133.5
133.1
130.5
36,414
39,434
37,847
April
May
June
250,279
251,562
252,883
156,423
156,450
156,468
149.5
149.0
149.3
65,305
65,861
66,392
44,095
44,143
44,232
70.'2
81.6
82.9
80.0
131.9
132.1
132.7
39,585
39,059
39,860
July
August
September
253,690
259,732
260,457
155,750
158,585
157,533
149.8
150.6
150.8
66,794
67,469
68,006
44,322
44,563
44,623
68^9
82.4
78.4
80.4
133.3
132.5
133.3
40,152
41,007
41,553
October
November
December
266,934
269,692
272,424
159,972
160,370
161,050
151.2
151.3
151.5
69,164
69,871
70,832
45,117
45,312
45,669
7CL6
79.3
75.0
66.1
134.8
133.4
133.8
41,437
41,423
42,179
January
February
March
274,091
274,844
283,741
160,460
159,177
0)164,058
150.6
151.5
0)152.9
71,293
71,266
72,045
45,381
44,850
44,944
H>74!6
72.1
73.9
68.4
131.3
132.1
132.5
42,410
42,302
42,761
April
May
June
276,406
286,413
283,772
157,285
161,807
158,316
149.1
152.0
151.8
71,606
72,292
72,093
44,229
44,405
43,932
68.'2
66.0
68.1
65.8
130.9
130.5
130.9
43,034
43,895
43,044
July
August
September
289,994
293,167
296,776
159,751
160,273
160,068
150.8
148.2
149.7
73,121
74,871
76,666
44,316
45,130
0)45,771
67.'9
60.4
64.5
66.7
131.8
130.3
132.5
44,655
42,911
44,687
October
November
December
298,619
299,153
302,386
159,757
158,205
158,718
149.7
148.9
148.5
75,583
76,421
77,150
44,803
44,954
44,881
ee'.s
62.1
63.3
61.0
131.9
131.4
0)133.9
0)46,478
44,811
43,579
0)312,730
310,571
305,657
161,600
160,189
154,500
148.2
148.5
147.8
0)79,464
77,993
76,534
45,695
44,365
42,972
71.5
67.0
66.9
56.5
H31.0
r!29.8
r!25.9
44,447
44,583
42,615
295,277
r292,631
p293,175
150,625
r!46,972
p!47,014
H44.8
r!42.4
H41.0
75,011
r74,587
r75,602
41,859
r41 ,460
r41 ,862
r52.6
52.8
51.7
58.8
122.5
e!20.3
(NA)
42,461
p41,974
(NA)
pi 39. 4
p77,125
p42,446
1979
1980
January
February
March
April
May
June
July
August
September
(NA)
(NA)
62.3
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, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 14, 22, and 23.
l
Series 58 reached its high value (89.1) in 2d quarter 1977.
AUGUST 1980
65
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Mjj FIXED CAPITAL INVESTMENT-Con.
Minor Economic
Process
Business Investment Commitments
Timing Class
L, L,L
....
L, L, L
Contracts and orders for plant
and equipment
Year
and
month
10. Current
dollars
(Bil. dol.)
20. Constant
(1972) dollars
(Bil. dol.)
L.L.L
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil. dol.)
27. Constant
(1972) dollars
(Bil. dol.)
L,C, U
U, Lg, U
C, Lg, Lg
9. Construction contracts for commercial and industrial buildings, floor
space 1
11. Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, manufacturing
(Bil. dol.)
(Bil. dol.)
Square feet
(Millions)
Square meters2
(Millions)
1978
January
February
March
20.79
21.89
20.13
13.26
13.90
12.84
16.07
16.99
16.84
10.30
10.84
10.79
83.03
67.86
71.94
7.71
6.30
6.68
17JO
April
May
June
19.00
21.18
19.83
12.06
13.31
12.42
17.24
17.68
17.66
10.98
11.20
11.13
76.71
88.41
83.27
7.13
8.21
7.74
15J2
July
August
September
22.08
22.92
23.18
13.62
13.99
14.07
18.05
18.57
19.69
11.27
11.48
12.09
74.82
79.21
86.38
6.95
7.36
8.02
16J7
October
November
December
25.94
24.87
22.34
15.56
14.93
13.24
21.12
20.92
18.76
12.86
.12.74
11.28
84.55
91.08
81.48
7.85
8.46
7.57
18!75
26.16
25.48
0)28.10
15.40
15.17
|H)16.99
21.23
22.48
23.60
12.72
13.56
0)14.60
88.51
E)105.49
102.77
8.22
E>9.80
9.55
r2l!ei
25.36
22.67
24.66
14.76
13.14
r!4.32
20.60
21.13
21.70
12.24
12.34
12.78
93.59
87.09
84.08
8.69
8.09
7.81
r21.20
July
August
September
r25.82
23.87
24.49
r!4.55
13.40
13.67
21.23
21.08
21.58
12.20
12.00
12.21
88.48
83.85
92.17
8.22
7.79
8.56
r22^69
October
November
December
24.21
25.69
27.42
13.55
14.65
15.31
21.07
21.75
22.28
12.01
12.73
12.81
93.15
84.13
80.79
8.65
7.82
7.51
r23l28
27.35
24.56
26.27
15.01
13.47
14.07
H)23.86
21.48
22.59
13.34
12.02
12.35
104.43
85.46
82.84
9.70
7.94
7.70
H>r29!56
April
May
June
24.20
21.18
r22.92
12.98
rll.53
r!2.62
22.16
19.59
H9.95
12.02
10.79
rll.26
72.90
62.72
71.19
6.77
5.83
6.61
p25.'76
July
August
September
p23.61
p!2.72
p20.35
pll.22
72.28
6.71
59!73
59!98
60.' 83
63!43
1979
January
February
March
•
April
May
June
r67!63
r69!%
r73^45
r76.*66
1980
January
February
March
October
November
December
r84*.09
H)p87!7i
....
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, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphsof these series are shown on pages 12, 23, and 24.
^his 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. 2Converted to metric units by the Bureau
of Economic Analysis.
66
AUGUST 1980
ItCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
JQ FIXED CAPITAL INVESTMENT-Con.
Minor Economic
Process
Timing Class
Residential Construction
Commitments and Investment
Business Investment Expenditures
. ...
C, Lg, Lg
C, Lg, Lg
69. Machinery
61. Business
expenditures
and equipment
for new plant
sales and business
and equipment, construction
total
expenditures
Year
and
month
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
C, Lg, U
C, Lg, C
Lg, Lg, Lg
C, Lg, C
76. Index of
Nonresidential fixed investment in 1972 dollars
industrial production, business
86. Total
equipment
87. Structures
88. Producers'
durable equip.
(1967=100)
(Ann. rate,
bil.dol.)
i
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
L, L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967=100)
L, L, L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil.dol.)
1978
January
February
March
144.'25
205.29
209.48
213.55
152.0
153.6
156.5
133J
40.2
93.0
1,779
1,762
2,028
140.5
140.2
145.3
59.'i
April .
May
June
150.76
222.93
221.05
228.54
158.0
158.4
160.1
14CL3
43.9
96.4
53)2,182
2,018
2,092
157.4
142.6
HD160.2
H>6C).'9
155^41
230.65
236.47
245.60
161 .7
163.4
163.8
141 .*6
45. 'l
96.*5
2,090
1,983
2,014
144.3
136.6
141.4
60.2
163.96
245.93
249.54
252.58
164.8
165.0
166.8
145^5
46.5
98^9
2,001
2,111
2,052
143.9
145.0
146.8
6CKQ
165.'94
256.93
256.86
268.78
168.1
169.0
170.8
147.'2
45^8
ioi'3
1,727
1,469
1,800
119.1
120.4
136.7
57.7
April
May
June
173.48
261.20
268.02
265.92
168.7
171 .4
171.5
146^9
47^9
99.6
1,750
1,801
1,910
125.0
133.1
132.4
56.*7
July
August
September
179.33
274.41
278.61
280.10
171.4
171.5
173.6
150.7
48^7
0)1 OK 9
1,764
1,788
1,874
126.3
131.0
136.9
56^5
186*95
285.29
279.46
287.54
172.0
172.5
174.1
150.5
50 .'l
100.4
1,710
1,522
1,548
119.4
104.0
100.7
55.*8
53)191.36
297.92
[H)303.20
300.05
175.0
175.8
[H}175. 9
53)151.2
53)50.3
100.9
1,419
1,330
1,041
102.7
94.3
78.2
51 J
April
May
June
a!91.66
291.99
r293.49
P291.74
r!74.4
172.3
H68.6
rl45.*0
r49.1
r95.9
1 ,030
r906
rl,208
63.7
66.6
87.1
r40.7
July
August
September
(NA)
p!66.2
pi ,266
99.8
3195^54
October
November
December
al99*41
July
.
August
September
. .
October
November
December
1979
January
February
March
.
October
November
December
. .
.. .
1980
January
February
March
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated byjj); for
series that move counter to movements in general business activity, current low values are indicated by JJ>. 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.
Graphs of these series are shown on pages 13, 24, and 25.
AUGUST 1980
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Mj INVENTORIES AND INVENTORY INVESTMENT
Minor Economic
Process
Inventory Investment
L, L, L
Timing Class
L, L,L
L, L, L
36. Change in inventories on
30. Change in
hand and on order in 1972
business invendollars
tories in 1972
dollars
Monthly
Smoothed
data
data1
Year
and
month
Inventories on Hand and on Order
31. Change
in book value
of mfg. and
trade inventories, total
L, L, L
38. Change
in stocks of
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
Manufacturing and trade
inventories
supplies on
land and on
order, mfg.
71. Current
dollars
(Bil.dol.)
(Bil.dol.)
65. Mfrs.'
inventories of
finished
goods, book
70. Constant
(1972) dollars value
Lg, Lg, Lg
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
L, Lg, Lg
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
January
February
March
16.*5
21.07
13.75
H>35.22
16.33
18.36
20.35
42.9
36.3
61.1
0.48
1.41
1.81
341.01
344.04
349.13
238.18
238.92
241.23
59.76
59.78
60.24
1.61
1.58
1.57
144.38
145.80
147.60
April
May
June
15.'6
28.69
18.05
14.51
24.62
E>26.60
23.87
61.2
32.0
32.1
1.84
2.00
2.32
354.23
356.90
359.58
242.94
243.93
244.65
60.71
61.03
61.45
1.55
1.56
1.56
149.44
151.45
153.76
12!2
14.94
18.77
14.06
18.12
15.95
16.00
37.0
42.9
38.8
1.95
1.64
2.94
362.66
366.23
369.47
245.54
246.77
247.13
61.85
62.65
62.74
1.58
1.56
1.57
155.71
157.35
160.29
12!6
14.46
18.32
19.09
15.84
15.69
16.45
42.0
54.3
37.8
2.19
3.19
2.84
372.97
377.50
380.64
247.88
249.09
249.59
62.75
63.64
63.88
1.55
1.55
1.55
162.48
165.67
168.52
12.3
28.12
14.56
13.64
19.57
21.22
19.68
56.8
47.2
39.8
[H>5.09
3.70
2.98
385.38
389.31
392.63
250.98
251.38
252.24
64.70
65.51
65.88
1.56
1.58
1.54
173.60
177.30
180.29
0>18.'i
28.62
-1.31
20.72
18.86
16.29
14.83
68.1
43.7
57.3
4.33
0.52
2.59
398.31
401.94
406.72
253.80
254.71
256.18
67.08
67.22
68.08
1.61
1.57
1.62
184.62
185.14
187.73
7.'i
24.47
2.46
-21.16
15.32
15.25
8.90
H>82.3
44.9
15.2
1.24
2.21
1.74
413.58
417.32
418.59
258.92
|H>259.42
257.63
68.62
68.95
69.87
1.62
1.62
1.61
188.97
191.18
192.93
1.4
-4.33
-8.72
-13.45
-2.88
-9.54
-10.12
53.4
37.8
10.2
2.24
2.52
1.51
423.04
426.19
427.04
258.18
258.13
257.32
69.75
69.94
70.53
1.62
1.63
1.62
195.16
197.69
199.20
0.*3
-9.97
-16,31
rO.77
-9.77
-11.98
r-10.87
57.3
42.1
48.0
2.48
2.54
1.21
431.82
435.32
439.32
257.47
256.82
256.88
71.78
72.76
73.94
1.59
1.60
1.66
201.67
204.22
H)205.43
r3*.3
r3.10
r-25.99
p-22.69
r-6.32
r-5.76
p-11.28
74.4
rlO.3
p!6.4
^0.36
-2.85
-2.59
445.53
r446.39
E>p447.75
258.72
r257.99
P257.64
75.76
76.21
15)77.57
(NA)
(NA)
(Ann. rate,
bil.dol.)
(Bil.dol.)
(Bil.dol.)
(Bil.dol.)
(Ratio)
1978
.
July
August
September
...
. .
October
November
December
1979
January
February
March
April
May
June
July
August
September
October
November
December
1980
January
February
March
April
May
June
July
August
September
(NA)
(NA)
(NA)
(NA)
1.72
!>H. 76
pi. 75
(NA)
(NA)
205.07
202.22
199.63
(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[R); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete 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.
Graphs of these series are shown on pages 13. 15, 26, and 27.
1
Series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
AUGUST 1980
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
MB PRICES, COSTS, AND PROFITS
Minor Economic
Process
U, L, L
L, L, L
Timing Class
92. Change in sensitive prices
Year
and
month
Stock
Prices
Sensitive Commodity Prices
Monthly
data 2
Smoothed
data 3
(Percent)
(Percent)
23. Index of
industrial
materials
prices©
(1967=100)
L, L, L
19. Index of
stock prices,
500 common
stocks ©
(1941-43=10)
Profits and Profit Margins
L, L, L
L, L, L
Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bil.dol.)
18. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
UC.L
L,C, L
Corporate profits after taxes
with IVA and CCA 1
79. Current
dollars
(Ann. rate,
bil.dol.)
80. Constant
(1972) dollars 2
(Ann. rate,
bil.dol.)
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic income
(Percent)
1978
January
February
March
0.74
0.27
0.94
1.47
1.36
0.90
219.7
219.9
219.8
90.25
88.98
88.82
106\7
71." 2
70,'i
47.4
April
May
June
1.36
0.82
1.82
0.75
0.95
1.19
220.3
217.8
222.1
92.71
97.41
97.66
122^4
79.'9
84!7
55^7
l6!7
July
August
September
2.45
0.03
1.37
1.51
1.56
1.36
224.7
232.6
239.1
97.19
103.92
103.86
124^6
79!7
87.*7
56.'7
1CK7
October
November
December
1.32
1.60
1.22
1.09
1.17
1.40
249.4
254.8
251.8
100.58
94.71
96.11
132.*3
83^2
|H>89.'7
56.'9
11. '6
1.77
2.92
3.04
1.45
1.75
2.27
258.3
273.5
288.5
99.71
98.23
100.11
142!6
87.'3
87.*6
54^4
11. '4
-0.35
2.85
2.93
2.22
1.86
1.83
294.5
293.8
293.9
102.07
99.73
101.73
139!3
83.'?
87.9
53.*4
ii!6
July
August
September
1.63
1.09
3.47
2.14
2.18
1.97
297.3
298.1
297.3
102.71
107.36
108.60
14o\3
86\9
86\8
5K5
1\'.2
October
November
December
2.63
1.92
2.33
2.23
2.54
2.48
307.7
304.0
309.6
104.47
103.66
107.78
146.'9
84.7
80.3
46.9
11.0
2.43
0)2.74
r2.35
316.2
0)322.5
316.9
110.87
115.34
104.69
0)158^0
0}88!8
72^6
4l".4
Dii',5
0.09
rl.09
-0.12
r-0.45
301.9
278.5
267.5
102.97
107.69
114.55
p!29*.3
p7i'.i
p76*5
p42.*5
p9.*5
2.56
0.29
277.6
"290.8
IH>119.83
5
122.87
9^9
1979
January
February
March
April
May
June
. . .
1980
January
February
March
April
May
June
July
August
September
3.43
2.99
r-1.05
r-0.75
-0.13
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 by0); for
series that move counter to movements in general business activity, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
1
Graphs of these series are shown on pages 13, 28, and 29.
IVA, inventory valuation adjustment; CCA, capital consumption adjustment. 2Series
reaching highs before 1978: series 92 (monthly), February 1977 (4.95); series 80, 3d quarter 1977 (60.3). 3See footnote 1 on
page 68. ^Average for August 5, 12, and 19. 5Average for August 6, 13, and 20.
AUGUST 1980
69
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class
Year
and
month
^m PRICES, COSTS, AND PROFITS-Con.
Profits and Profit Margins-Con.
U, L, L
L, L, L
Unit Labor Costs and Labor Share
Cash Flows
L, L, L
L, L, L
81. Ratio,
profits (after
15. Prof its (after 26. Ratio, price
taxes) per dollar to unit labor
and CCA to
corp. domestic
income1 2
manufacturing
corporations
(Percent)
(Cents)
Net cash flov\ , corporate
business sector 2 34. Current
dollars
(1967=100)
L, L, L
(Ann. rate,
bil. dol.)
35. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
63. Index of
unit labor cost,
68. Labor cost
per unit of real
62. Index of
labor cost per
64. Compensation of employ-
sector
product; nonfinancial
corporations
manufacturing
of national
income
(1967=100)
(Dollars)
(1967=100)
(Percent)
1978
January
February
March
6.2
5.0
94.7
178.1
114.4
189.4
1.002
161.5
163.9
164.4
76.7
April
May
June
7.1
5.4
95.8
195.5
123.5
192.1
1.009
163.1
163.2
163.3
75.6
July
August
September
7.2
5.5
96.0
197.3
122.5
195.2
1 .024
163 6
163 1
163 9
75 4
October
November
December
7.2
5.7
96.0
205.7
125.8
199.0
1.042
164.9
166.6
167.8
75.0
January
February
March
6.6
|H) 5 9
94 7
216 0
129 8
205 9
1 075
170.6
171 8
172 0
75 5
April
May
June
6.6
5.6
94.4
217.3
127.4
211.7
1.104
175.2
173.3
174.0
75.9
July
August
September
6.0
5.8
94.2
228.3
130.5
217.0
1.127
175 0
176.4
176.7
75.8
October
November
December
5.5
5.4
94.0
227 7
127 5
221 1
1 152
178 4
179 5
181.9
76 0
4.6
p5.*6
93.6
[H}238 8
[H>131 3
227*5
1 182
1979
•..
1980
January
February
March
April
May
June
July
August
September
1 £9 Q
185 5
7fi A
1 07 A
o5 2
(NA)
r93 5
p210 0
pl!2 9
[R)r235 1
Wml 217
r!90 6
r!94 4
r!98 2
Usn77 ^
[u\n?nn Q
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, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 15, 29, and 30.
X
IVA, inventory valuation adjustment; CCA, capital consumption adjustment.
2
Series 81 reached its high value (8.1) in 3d quarter 1977; series 26 reached its high value (98.1) in 3d quarter 1975.
70
AUGUST 1980
ItUI
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.
MAJOR ECONOMIC
PROCESS
l
i
l MONEY AND CREDIT
Minor Economic
Process
Timing Class
Year
and
month
Velocity of Money
Money
L, L, L
85. Change in
money supply
(Ml-B)
L, L,L
L, C, U
102. Change
in money
supply (M2) 1
104. Change in total liquid assets
Monthly
data
(Percent)
(Percent)
L, L, L
Smoothed
data 2
(Percent)
(Percent)
L, L, L
105. Money
106. Money
supply (Ml-B) supply (M2)
in 1972
in 1972
dollars
dollars
(Bil.dol.)
(Bil.dol.)
Credit Flows
C,C,C
C, Lg, C
L, L,L
107. Ratio,
gross national
product to
money supply
(Ml-B)
108. Ratio,
personal income
to money supply
(M2)
(Ratio)
(Ratio)
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bil.dol.)
1978
i.n
January .
February
March
0.00
0.48
0.66
0.41
0.64
0.83
0.82
1.08
0.99
0.93
0.89
0)224.3
223.0
222.3
0)869.1
867.6
866.3
5.974
1.243
1.247
1.257
82.43
85.03
89.80
April
May
June
1.12
0.88
0.70
0.65
0.66
0.62
1 .06
1.11
0.79
0.95
1 .04
1.04
223.2
223.4
223.0
865.6
864.5
862.3
6.110
1.265
1.265
1.270
85.40
93.48
89.80
July
August
September
0.40
0.43
1.11
0.57
0.78
0.93
0.81
1.03
1.18
0.94
0.89
0.94
222.4
222.0
222.5
861.5
863.0
863.5
6.158
1.282
1.280
1.279
89.15
101.17
92.98
October
...
November
December
0.20
0.79
0.73
0.77
0.74
0.57
0.66
1.24
1.11
0.98
0.99
1.02
221.1
221.4
221.6
862.8
863.6
862.9
6.258
1.287
1.293
1.303
94.51
94.62
91.61
0.03
0.19
0.89
0.43
0.45
0.91
0.61
0.79
1.20
1.00
0.91
0.85
219.6
217.6
217.3
858.6
852.9
852.0
6.341
1.303
1.310
1.312
101 .09
82.72
88.44
0)1.57
-0.11
1.27
1.02
0.58
1.13
1.13
1.02
1.37
0.95
1.08
E>1.14
218.7
216.2
216.7
852.6
848.7
849.6
6.281
1.305
1.305
1.300
75.26
92.33
95.14
July
August
September
0.94
0.66
0.61
0.85
0.91
0.74
0.74
0.85
0)1.38
1.11
1.02
0.99
216.4
215.7
214.5
847.7
846.9
843.3
6.310
1.308
1.305
1.304
97.85
84.74
87.46
October
November
December
0.18
0.34
0.57
0.48
0.42
0.60
0.49
0.28
0.69
0.95
0.81
0.60
212.8
211.3
210.0
839.1
834.1
828.9
6.390
1.312
1.323
1.330
0)107.34
74.36
51.95
January
February
March
0.44
0.82
-0.03
0.59
0.80
0.41
0.66
0.96
rO.65
0.52
0.66
0.76
208.0
206.9
203.9
822.4
817.7
809.5
6.460
1.334
1.329
1.333
r83.20
r67.51
r69.29
April
May
June
-1.18
-0.10
1.22
-0.21
0.81
rl.48
rO.48
rO.73
pO.59
0.73
0.66
pO.61
199.7
197.8
198.2
r800.5
800.0
r804.0
0)r6.508
0)1.337
1.330
rl.317
r50.12
r!6.79
p7.45
July
August
. ...
September
pO.92
3
2.76
pi. 41
eO.96
eO.68
p200.0
p815.3
1979
January
February
March
April
May
June
.
1980
pi. 317
(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 by0); for
series that move counter to movements in general business activity, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 31, and 32.
Series 102 reached its high value (1.64) in June 1975. 2See footnote 1 on page 68. 3Average for weeks ended August 6 and 13.
AUGUST 1980
71
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
PM MONEY AND CREDIT-Con.
Minor Economic
Process
Credit Flows-Con.
L, L,L
Timing Class
L, L, L
112. Net change
in bank loans
to businesses
Year
and
month
(Ann. rate,
bil.dol.)
113. Net
change in
consumer installment
debt
(Ann. rate,
bil.dol.)
Credit Difficulties
L, L, L
L, L, L
110. Total
private
borrowing
14. Current
liabilities
of business
failures® 1
(Ann. rate,
mil. dol.)
L, L, L
L, U, I)
39. Delinquency 93. Free
rate, 30 days
reserves®
and over, consumer installment loans
(Mil. dol.)
Interest Rates
Bank Reserves
(Percent)
(Mil. dol.)
L, Lg, U
94. Member
bank borrowing from the
Federal
Reserve®
(Mil. dol.)
C, Lg, Lg
L, Lg, Lg
119. Federal
funds rate®
114. Treasury
bill rate®
(Percent)
(Percent)
1978
17.21
19.97
29.24
34.34
48.91
309,956
18.10
26.24
21.96
49.27
51.36
50.48
July
August
September
13.61
11.78
13.92
October
November
December
10.90
January
February
March
168.31
205.01
324.41
2.42
2.48
2.51
-176
-272
336,240
202.99
160.40
178.84
2.44
2.28
2.44
-475
-975
-974
41.59
43.58
44.16
231.82
206.40
127.02
2.42
2.37
2.42
-1,146
345,916
475.34
178 93
196 54
2 35
2 34
2 45
-1 ,049
394,412
-0.94
40.51
45 98
52 79
39 31
33 07
5 76
36 80
42 76
43 50
348 660
182 22
177 09
187 76
[JhT>9 19
2 31
-692
-764
9.76
April
May
June
. ...
8.77
481
405
344
6.70
6.78
6.79
6^45
539
1,227
1,111
6.89
7.36
7.60
6 31
1,286
1 ,147
1 ,068
7.81
7.07
8 04
8 45
7 04
7 84
1 261
722
874
8 96
9 75
10 03
8 13
8 79
9 12
QQA
10 07
Q7Q
in nfi
i n no
9
9
-38
-885
-993
-417
-749
6.46
6.32
6.43
6.71
1979
January
February
March
April
May
June
. .
July
August
September
39 62
31 99
23 23
49 26
39 67
30 70
40 55
29 32
29 35
0)53.35
qfi
CA
43.36
October
November
December
-3
79
91 in
A
CC
OCO
fTj\£9A
119
£79
26 23
90
00
9QC
OO9
16 19
9
1.1
749
QQQ
242.76
9nn AR
9
/10
OQQ
PQ7
9
97
1 AQH
1 777
273 17
2 45
1 1 7R
1 ^Qfi
91 9
?n
9
9D7
AA
2 47
QQQ
ZIR
186.20
2.59
QQC 7C
9 nc
1
Q/I o"311
Io4.
9
1 "3P, H9
9 fi/1
243.15
2.37
2.32
2.53
£n
-904
1
1 7Q
1 DQ7
-1,339
1,344
i 7^n
2,022
1 ,906
1 ,473
-jr i
1 ,751
O7Q
1 ,o/y
OC
97
0 A£.
in m
in 9/1
in 9Q
9 .^y
9 ro
9 nc
i n ni
in QZL
11.43
9 Of.
9 /in
10.18
/1 Q
1^
77
1 1 d7
10
TO
1 1 £57
1 1 7P>
1 9 07
13.82
14.13
17.19
12.04
12.81
0)15.53
fu\i 17
|n/
/ .cbi1
14.00
1980
January
February
March
April
May
June ....
[H) 55. 48
35. 83
-1.52
2.47
...
July
August
September
-38.96
r2.14
p!3 28
2
28 37
16.46
27 . 54
17.24
-23.82
-41.21
-41 56
/MA \
\rit\)
p364,028
(NA)
9 R^
(NA)
9
£>&
9
7/1
-999
-1 ,465
0)-2,680
1,241
1 ,655
0)2,824
w 9 9£1
r-£ ,£o I
r-oob
-i -i n
p- I 14
r2,455
rl ,018
p365
p28
-123
p390
y,
(NA)
3
OOC
3
521
10.98
9.47
3
9.15
7.00
9.03
8.13
9.27
"9.00
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, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 32, 33, and 34.
3
2
x
Average for weeks
Average for weeks ended August 6 and 13.
Series 14 reached its high value (96.99) in September 1977.
ended August 6, 13, and 20.
**Average for weeks ended August 7, 14, and 21.
72
AUGUST 1980
KCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
|Q MONEY AND CREDIT-Con.
Minor Economic
Process
Outstanding Debt
Interest Rates-Con.
Timing Class
Lg, Lg, Lg
C, Lg, Lg
U, Lg, Lg
Lg, Lg, Lg
116. Corporate
bond yields®
11 5. Treasury
bond yields©
117. Municipal
bond yields®
18. Secondary
market yields
on FHA
mortgages©
(Percent)
(Percent)
(Percent)
(Percent)
Year
and
month
Lg, Lg, Lg
Lg, Lg, Lg
7. Bank rates
n short-term
usiness loans
®
109. Average
prime rate
charged by
banks®
(Percent)
(Percent)
Lg, Lg, Lg
66. Consumer
installment
debt
(Mil.dol.)
Lg, Lg, Lg
72. Commercial
and industrial
oans outstanding, weekly
reporting large
commercial
Danks
(Mil.dol.)
Lg, Lg, Lg
95. Ratio,
consumer installment debt
to personal
ncome
(Percent)
1978
January
February
March
8.70
8.70
8.70
7.51
7.60
7.63
5.71
5.62
5.61
9.18
(NA)
9.35
8.90
7.93
8.00
8.00
225,714
228,576
232,652
118,248
119,682
121,346
13.95
14.01
14.06
April
May
June
8.88
9.00
9.15
7.74
7.87
7.94
5.80
6.03
6.22
9.44
9.74
(NA)
8.'%
8.00
8.27
8.63
236,758
241,038
245,245
122,854
125,041
126,871
14.12
14.29
14.39
July
August
September
9.27
8.83
8.78
8.10
7.88
7.82
6.28
6.12
6.09
9.96
9.81
9.81
9^92
9.00
9.01
9.41
248,711
252,343
256,023
128,005
128,987
130,147
14.38
14.49
14.58
October
November
December
9.14
9.30
9.30
8.07
8.16
8.36
6.13
6.19
6.50
9.94
10.04
10.23
10.94
11.55
259,399
263,231
267,630
131,055
131,786
131,708
14.56
14.61
14.65
January
February
March
9.47
9.52
9.65
8.43
8.43
8.45
6.47
6.31
6.33
10.24
10.24
10.26
12.27
11.75
11.75
11.75
270,697
274,260
277,885
134,984
137,740
138,220
14.76
14.81
14.84
April
May
June
9.69
9.82
9.51
8.44
8.55
8.32
6.29
6.25
6.13
10.61
10.49
12^34
11.75
11.75
11.65
281,990
285,296
287,854
141,522
144,188
146,124
14.99
15.08
15.11
July
August
September
9.47
9.57
9.87
8.35
8.42
8.68
6.13
6.20
6.52
10.46
10.58
11.37
12.3\
11.54
11.91
12.90
290,297
292,743
297,189
149,503
152,048
155,661
15.02
15.04
0)15.16
October
November
December
11.17
11.52
11.30
9.44
9.80
9.58
7.08
7.30
7.22
12.41
12,24
is.'si
14.39
15.55
15.30
299,375
301,782
303,131
155,971
154,213
154,592
15.11
15.05
14.95
1 5'. 67
15.25
15.63
18.31
304,503
306,798
0)308,235
159,215
162,201
162,074
14.88
14.92
14.89
0)17^75
H>19.77
16.57
12.63
306,250
302,816
299,353
0)162,280
159,033
rl59 ? 211
14.78
14.57
p!4.33
11.48
11.05
(NA)
p!60,318
"162,682
9.98
1K44
1979
(NA)
(NA)
1980
January
February
March
.
..
...
11.65
13.23
[H)14.08
10.03
11.55
0)11.87
13.36
11.61
11.12
10.83
April
May
June
July
August
September
11.48
M2.20
7.35
8.16
0)9.17
9.82
9.40
9.83
MO. 36
2
12.60
(NA)
0)14.63
8.63
7.59
7.63
13.45
11.99
11.85
8.13
12.39
8.61
3
(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 by0); for
series that move counter to movements in general business activity, 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. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated, and "NA", not available.
Graphs of these series are shown on pages 15, 34, and 35.
Average for weeks ended August 1, 8, 15, and 22. 2Average for weeks ended August 7, 14, and 21. 3Average for August 1 through
26. A Average for weeks ended August 6 and 13.
AUGUST 1980
73
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
1^ DIFFUSION INDEXES
950. Twelve leading
indicator components
(series1,3,8, 12, 19,
20,29,32,36,92,104,
Year
and
month
952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109)
951. Four roughly
coincident indicator
components (series
41,47,51,57)
961. Average workweek
of production workers,
manufacturing (20
industries)
106)
1-month
span
6-month
span
1-month
span
January
February
March
45.8
62.5
41.7
58.3
54.2
58.3
25.0
75.0
April
May
June
66.7
54.2
62.5
54.2
50.0
58.3
July
August
September
45.8
50.0
62.5
62.5
83.3
66.7
100.0
October
November
December
54.2
37.5
66.7
January
February
March
962. Initial claims for
State unemployment
insurance, week including the 12th
(51 areas)
963. Number of employees on private
nonagricultural payrolls
(172 industries)
6-month
span
1 -month
span
9-month
span
1 -month
span
9-month
span
1-month
span
2.5
77.5
65.0
40.0
33.3
47.1
54.9
76.5
56.9
47.1
68.6
68.6
71.8
82.3
82.8
79.9
82.4
11.8
58.8
52.9
60.8
60.8
69.8
61.9
64.2
74.7
75.3
74.7
6-month
span
1 -month
span
6-month
span
100.0
100.0
100.0
100.0
100.0
91.7
100.0
100.0
100.0
75.0
90.0
85.0
1978
100.0
100.0
100.0
100.0
100.0
66.7
100.0
100.0
91.7
83.3
83.3
62.5
52.5
70.0
95.0
62.5
100.0
100.0
100.0
83.3
83.3
83.3
100.0
100.0
100.0
47.5
45.0
60.0
82.5
47.5
22.5
49.0
42.2
94.1
51.0
76.5
15.7
61.0
67.7
67.2
73.3
77.6
80.5
66.7
66.7
50.0
100.0
100.0
100.0
100.0
100.0
100.0
66.7
100.0
100.0
100.0
83.3
83.3
35.0
67.5
57.5
62.5
70.0
12.5
25.5
29.4
86.3
51.0
66.7
29.4
68.0
75.3
74.7
82.0
79.1
78.2
58.3
41.7
66.7
33.3
41.7
41.7
25.0
75.0
100.0
75.0
87.5
50.0
83.3
75.0
75.0
100.0
100.0
100.0
52.5
37.5
67.5
15.0
10.0
15.0
11.8
72.5
68.6
46.1
27.5
23.5
66.9
66.3
62.2
74.7
71.8
64.0
April
May
June
25.0
45.8
41.7
41.7
33.3
29.2
12.5
75.0
75.0
75.0
50.0
25.0
91.7
75.0
83.3
83.3
100.0
100.0
0.0
92.5
32.5
17.5
30.0
17.5
66.7
66.7
56.9
49.0
31.4
49.7
58.1
57.8
60.5
53.8
51.5
July
August
September
45.8
29.2
54.2
37.5
33.3
45.8
100.0
100.0
50.0
75.0
66.7
83.3
75.0
100.0
50.0
50.0
83.3
75.0
75.0
45.0
72.5
32.5
25.0
90.0
35.3
56.9
86.3
21.6
23.5
49.0
57.0
54.4
52.9
58.1
55.5
55.2
October
November
December
16.7
20.8
r41.7
r45.8
50.0
50.0
50.0
58.3
50.0
37.5
57.5
65.0
45.0
32.5
27.5
8.8
35.3
33.3
100.0
83.3
41.7
50.0
53.9
16.7
75.0
75.0
25.0
68.6
5.9
65.1
55.2
53.5
59.3
63.1
56.4
75.0
25.0
25.0
rO.O
58.3
66.7
41.7
66.7
66.7
50.0
75.0
10.0
0.0
H7.5
r2.5
pO.O
25.5
60.8
46.1
60.2
54.9
45.9
r38.1
66.7
33.3
33.3
"50.0
55.0
17.5
r!5.0
28.2
p25.0
p70.6
r29.1
r24.4
p52.5
(NA)
p37.8
50.0
75.0
75.0
5.0
1979
: 50.0
7.8
1980
January
February
March
April
May
June
0.0
41.7
r29.2
33.3
12.5
25.0
....
July
August
September
16.7
M8.2
2
0.0
20.0
0.0
0.0
*54.5
25.0
2
3
95.0
0.0
0.0
3
0.0
"75.0
3.9
33.3
2.0
p2.0
(NA)
42.7
30.8
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span. Diffusion indexes 961, 962, and 963 are computed from seasonally adjusted components; indexes 950, 951, and 952 are computed from the components of the composite indexes. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 36.
Excludes series 12 for which data are not yet available.
2
Excludes series 12 and 36 for which data are not yet available.
3
Excludes series 57 for which data are not yet available.
"Excludes series 70 and 95 for which data are not yet available.
74
AUGUST 1980
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
BB DIFFUSION INDEXES-Con.
964. Value of manufacturers' new orders,
durable goods industries (35 industries)
Year
and
month
965. Newly approved
capital appropriations,
deflated. The
Conference Board
(17 industries)
1 -month
span
9-month
span
37.1
60.0
45.7
85.7
91.4
80.0
62
April
May
June
74.3
42.9
57.1
85.7
80.0
94.3
27
July
August
September
48.6
80.0
65.7
88.6
80.0
88.6
59
October
November
December
77.1
45.7
62.9
91.4
97.1
91.4
50
62.9
45.7
62.9
82.9
80.0
61.4
r48
25.7
62.9
51.4
65.7
62.9
60.0
r33
42.9
57.1
60.0
54.3
45.7
75.7
r48
51.4
45.7
54.3
62.9
62.9
42.9
r53
January
February
March
72.9
40.0
31.4
22.9
r71
r28.6
p31.4
April
May
June
17.1
34.3
1-quarter
span
966. Index of industrial
production (24
industries)
967. Index of industrial
materials prices ®
(13 industrial materials)
1-month
span
6-month
span
1-month
span
*49
39.6
47.9
85.4
83.3
79.2
91.7
69.2
34.6
46.2
'50
87.5
54.2
83.3
87.5
87.5
85.4
'48
70.8
83.3
70.8
4-Q moving!
avg.
9-month
span
968. Index of stock
prices, 500 common
stocks x ®
1-month
span
9-month
span
960. Net profits,
manufacturing 2 ®
(about 700 companies)
1-quarter
span
4-quarter
span
1978
January
February
March
,
. ..
3
66.7
66.7
3
58.3
30.6
50.0
"49.1
"62.1
"69.8
*78
50.0
61.5
80.8
69.2
80.8
84.6
90.7
90.7
59.3
"82.8
"86.2
"87.7
'78
87.5
87.5
91.7
65.4
69.2
76.9
88.5
92.3
88.5
28.8
98.3
37.3
"70.2
"67.5
"68.4
'so
87.5
77.1
81.3
88.5
80.8
42.3
88.5
88.5
92.3
69.0
39.1
47.3
67.3
'74
*52
66.7
79.2
87.5
58.3
58.3
50.0
61.5
76.9
76.9
96.2
96.2
88.5
94.8
35.5
85.5
18.2
32.7
57.4
'?!
r45
54.2
52.1
66.7
56.3
54.2
45.8
69.2
42.3
53.8
80.8
84.6
80.0
16.4
90.0
90.7
88.9
75.0
*74
r45
16.7
64.6
66.7
70.8
52.1
54.2
46.2
30.8
53.8
66.7
66.7
58.3
64.8
92.6
53.7
63.0
68.5
68.5
75
r51
45.8
45.8
52.1
66.7
54.2
41.7
= 62.5
p47
58.3
50.0
58.3
66.7
58.3
5
58.3
38.0
95.4
77.1
33.3
33.3
r!6.7
50.0
73.1
61.5
3
8.1
8.6
0.0
1979
January
February
March
April
May
June
.
. . .
'
July
August
September
October
November
December
!
!
61.5
76.9
5
91.7
5
5
5
5
5
3.7
69.8
37.7
39.6
(NA)
1980
July
August
September
p!5
r42.9
rlO.4
r!6.7
r20.8
p68.6
p!2.5
16.7
8.3
p8.3
11.5
15.4
0.0
6
53.8
5
5
58.3
50.0
53.8
6
50.0
74.1
52.8
3.8
39.6
47.2
77.4
26.4
92.5
89.6
92.5
80.8
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the2d quarter, 3-quarter indexes on
the 1st month of the 3d quarter, and 4-quarter indexes on the 2d month of the 3d quarter. Seasonally adjusted components are used except in index 968, which requires no adjustment, and
index 969, which is adjusted as an index (1-quarter span only). Unadjusted series are indicated b y ® . The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 37.
'•Based on 62 industries through March 1978, on 59 industries through September 1978, on 58 industries through January 1979,
on 55 industries through June 1979, on 54 industries through January 1980, and on 53 industries thereafter. Data for component
industries are not shown in table C2 but are available from the source agency.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc.
3
Based on 12 components (excluding print cloth).
A
Based on 58 components for January 1978 through May 1978 and on 57 components through September 1978.
5
Based on 12 components (excluding rosin).
6
Average for August 5, 12, and 19.
AUGUST 1980
75
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
DIFFUSION INDEXES-Con.
Year
and
quarter
a. Actual
expenditures
b. Later
anticipations
c. Early
anticipations
Anticipated
Actual
(4-Q span)
(4-Q span)
78
80
84
82
80
81
84
85
82
86
90
73
76
78
78
79
82
84
83
84
86
86
87
92
90
78
74
70
72
78
82
80
70
87
84
82
82
85
88
84
78
62
(NA)
66
73
59
73
(NA)
72
80
63
(4-Q span)
(4-Q span)
66.7
66.7
66.7
72.2
80
83
82
82
80
86
88
84
71
74
74
76
77.8
69.4
63.9
72.2
61.1
66.7
61.1
69.4
83
86
86
86
82
83
66.7
77.8
83.3
77.8
66.7
72.2
66.7
72.2
55.6
72.2
69.4
77.8
85
81
73
78
84
80
72
52.8
(NA)
50.0
58.3
47.2
75.0
66.7
74
(NA)
66
75
57
(1-Qspan)
66.7
75.0
88.9
44.4
61.1
72.2
69.4
58.3
61.1
88.9
61.1
66.7
(1-Qspan)
Anticipated
Actual
Anticipated
Actual
(4-Q span)
(1-Qspan)
973. Net sales, manufacturing
and trade 1 ®
972. Net profits, manufacturing
and trade 1 ®
971. New orders, manufacturing 1 ®
970. Business expenditures for new plant and
equipment (18 industries)
(4-Q span)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
DIFFUSION INDEXES-Con.
Year
and
quarter
974. Number of employees,
manufacturing and trade 1 ®
975. Level of inventories,
manufacturing and trade 1 (
976. Selling prices, manufacturing 1 ®
Actual
Actual
Actual
Anticipated
Anticipated
Anticipated
977. Selling prices, wholesale
trade 1 ®
Anticipated
Actual
978. Selling prices, retail
trade 1 ®
Actual
Anticipated
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
60
59
61
62
59
60
61
59
74
72
74
75
65
68
72
70
86
86
87
87
78
81
86
82
87
86
88
90
80
86
86
84
90
86
92
92
86
84
89
62
64
64
63
59
60
62
62
76
76
76
78
67
70
73
74
87
88
90
91
82
84
87
87
92
93
94
84
90
87
90
91
94
94
93
90
88
92
92
62
60
60
58
60
60
58
56
80
76
73
75
70
74
71
68
92
93
92
94
86
96
95
95
96
90
92
90
94
95
94
96
90
92
92
90
58
(NA)
54
56
48
67
(NA)
62
70
53
90
(NA)
92
(NA)
90
92
87
92
(NA)
90
93
84
(4-Q span)
(4-Q span)
(4-Q span)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
87
90
83
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed on the terminal month of the span. Series are seasonally adjusted except those, indicated by © , that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 38.
x
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc. Dun and Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
76
AUGUST 1980
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
R9 SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
Diffusion index components
1979
1980
January
December
February
April
March
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING
(Average weekly hours)
All manufacturing industries
+
Percent rising of 20 components
40.2
+
(65)
40.3
40.1
39.8
(75)
(10)
(0)
39.1
39.0
38.7
38.5
41.2
40.8
40.9
40.7
o
Ouly p
Juner
May
]
39.8
39.3
39.1
(55)
(18)
(15)
o
39.1
(52)
Durable goods industries:
Lumber and wood products
Furniture and fixtures
+
o
39.0
38.9
+
+
39.4
39.2
Stone clay and glass products .
Primary metal industries
+
41.5
40.7
+
41.4
40.8
Fabricated metal products
Machinery, except electrical
..
+
o
40.9
41.5
o
+
40.9
41.6
40.8
41.5
40.7
41.3
Electrical equipment and supplies
Transportation equipment
+
+
40.5
40.9
o
o
40.5
40.9
40.3
40.8
40.0
40.4
Instruments and related products
Miscellaneous manufacturing industries
o
+
41.0
39.0
+
+
41.4
39.2
40.9
39.1
40.4
38.6
+
Food and kindred products
Tobacco manufactures
o
+
39.9
38.5
o
39.8
38.5
39.7
37.9
39.3
37.7
+
+
39.6
38.2
Textile mill products
Apparel and other textile products
o
+
41.0
35.6
+
+
41.5
36.0
41.1
35.9
40.8
35.3
+
+
42.8
37.4
+
+
43.0
37.8
42.9
37.4
42.6
37.2
41.8
43.4
+
42.0
36.9
+
41.9
40.7
40.0
37.0
+
+
40.7
37.2
o
40.0
37.2
o
37.3
38.5
+
37.5
37.6
+
37.8
37.2
+
+
38.0
37.6
40.6
40.6
40.3
39.2
+
40.4
38.9
+
40.5
38.3
+
+
40.8
41.5
39.9
41.0
39.8
40.7
o
39.8
40.6
+
39.9
40.5
39.5
r39.7
39.2
39.5
+
39.0
39.7
40.5
38.2
+
40.1
38.6
o
-
40.7
38.5
40.3
38.3
+
Nondurable goods industries:
Paper and allied products
Printing and publishing
.
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products, n.e.c
Leather and leather products
o
+
39.9
r38.2
39.5
37.5
40.3
35.8
39.7
35.3
39.0
35.2
+
39.2
35.0
o
42.5
37.2
41.7
37.1
41.4
36.9
+
o
41.7
36.9
41.8
39.7
+
41.5
41.1
r41.3
r42.5
41.0
42.3
o
+
41.0
43.3
39.9
36.9
+
+
40.1
37.3
39.3
36.7
39.2
36.6
+
39.3
36.4
66,454
+
72,064
964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES '
(Millions of dollars)
All durable goods industries
+
77,202
+
(54)
Percent rising of 35 components
81 ,467
-
(73)
81,021
(40)
+
o
77,546
-
72,416
+
2
-
67,328
-
(34)
(17)
(31)
39.4
37.3
(69)
(43)
Primary metals
Fabricated metal products
+
11,502
9,685
+
-
13,533
9,092
+
13,086 10,223
11,141
9,738
-
9,680
8,862
-
8,373
8,333
+
-
8,947
8,076
+
+
10,600
8,140
Machinery except electrical
Electrical machinery
+
+
14,016
10,060
+
+
15,249
10,626
+
14,247 11,440 -
14,000
11,109
-
11,651
10,737
-
12,701
10,022
+
-
13,085
9,941
+
-
13,190
9,692
Transportation equipment
Other durable goods industries
+
-
16,970
14,969
+
16,448
16,519
-
16,005 +
16,020 -
16,345
15,213
+
-
17,510
13,976
-
14,320
13,579
+
12,672
13,733
+
+
15,829
14,613
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. The "r" indicates revised;
"p", preliminary; and "NA", not available.
1
Data are seasonally adjusted by the source agency.
2
Data for most of the 35 diffusion index components are not available for publication; however, they are included in the totals
and directions of change for the six major industry groups shown here.
AUGUST 1980
77
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
JQ SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
1980
1979
Diffusion index components
January
December
February
Aprilr
March
Juner
Mayr
Julyp
966. INDEX OF INDUSTRIAL PRODUCTION '
(1967=100)
All industrial production
+
Percent rising of 24 components^
Lumber, clay, and glass
Clay glass and stone products
Lumber and products
+
+
+
+
Furniture and miscellaneous
Furniture and fixtures
Miscellaneous manufactures
-
(33)
148.2
-
(10)
144.3
141.0
138.8
(17)
(21)
(12)
+
-
113.6
144.7
-
106.5
141.8
-
96.5
134.5
89.5
128.5
-
83.9
123.5
166.1
179.7
126.2
175.0
-
166.0
179.5
124.3
173.8
o
163.2
177.2
114.7
173.8
-
162.0
171.4
109.5
171.0
157.1
166.9
110.1
169.3
+
-
154.2
164.0
110.6
166.5
165.1
131.6
162.6
130.2
-
156.5
125.4
-
149.3
105.2
-
142.9
103.6
138.2
103.1
o
+
161.0
154.0
159.2
152.0
+ 159.5
o 152.0
-
158.2
151.2
-
151.7
146.3
146.2
142.7
147.8
127.2
o
-
73.2
140.2
127.1
69.8
+
135.1
126.9
70.3
129.9
(NA)
69.3
156.0
138.9
+
-
162.9
181.2
125.9
175.0
+ 166.9
+ 181.7
- 122.4
+ 175.8
164.4
131.7
+
-
161.0
153.7
147.1
128.3
+
71.2
Paper and printing
Paper and products
Printing and publishing
+
+
154.7
137.8
+
+
+
+
216.5
142.6
262.3
+
+
Mining:
Coal
Oil and gas extraction
Metal, stone, and earth minerals
Metal mining
Stone and earth minerals
151.7
111.9
145.3
115.4
146.1
+
+
Foods and tobacco
Foods
Tobacco products
-
(33)
(77)
Nondurable manufactures:
Textiles, apparel, and leather
Textile mill products
Apparel products
Leather and products
Chemicals, petroleum, and rubber
Chemicals and products
Petroleum products
Rubber and plastics products
152.3
+ 152.6
(58)
Durable manufactures:
Primary and fabricated metals
Primary metals
Fabricated metal products
Machinery and allied goods
Nonelectrical machinery
Electrical machinery
Transportation equipment
Instruments
152.2
116.4
145.0
+
+
+
143.7
128.0
71.9
141.9
128.0
71.7
+
150.5
139.9
+
-
151.6
139.2
-
147.3
136.5
-
144.6
135.0
+ 217.7
+
146.7
+
266.9
-
214.5
141.6
264.8
-
+
216.0
144.4
267.9
-
209.4
137.9
263.5
-
148.9
116.6
+
+
150.0
118.7
+
+
150.2
120.0
+
+
150.3
123.1
-
148.7
120.4
+
+
145.0
127.2
+
141.0
128.5
+
136.0
130.3
+ 137.2
+
131.6
+
+
+
136.8
141.0
+
+
137.6
145.3
-
-
136.6
142.0
132.7
136.8
+
+
(NA)
(NA)
-
(NA)
141.7
(NA)
(NA)
(NA)
144.8
133.8
-
140.7
132.7
199.8
133.7
251.0
191.7
132.5
241.6
-
(NA)
132.0
(NA)
+
-
149.5
117.2
146.2
(NA)
143.4
132.5
+
+
145.0
133.8
122.4
133.1
-
119.8
128.3
+
+
150.0
134.0
(NA)
(NA)
+
117.0
123.6
149.6
134.5
(NA)
(NA)
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. The "r " indicates revised;
"p", preliminary; and "NA", not available.
1
Data are seasonally adjusted by the source agency.
2
Where actual data for separate industries are not available, estimates are used to compute the percent rising,
78
AUGUST 1980
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
ffi|
SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
1980
1979
Diffusion index components
December
January
February
March
April
May
June
August 1
July
967. INDEX OF INDUSTRIAL MATERIALS PRICES 2
Industrial materials price index (1967=100) . . . . +
309.6 +
(77)
Percent rising of 13 components .
316.2
+
(50)
322.5
-
316.9 (62)
(73)
301.9 (12)
278.5
-
(15)
267.5
-
277.6
+
(54)
(0)
290.8
(81)
Dollars
Copper scrap
(pound). . +
(kilogram). .
0.872 o
1.922
0.872
1.922
+
0.971
2.141
-
0.732 1.614
0.674 +
1.486
0.688
1.517
-
0.679
1.497
+
0.760
1.675
-
0.743
1.638
Lead scrap
(pound). . (kilogram). .
0.373 0.822
0.346
0.763
o
0.346
0.763
+
0.364 0.802
0.313 0.690
0.220
0.485
-
0.216
0.476
+ 0.218
0.481
+
0.245
0.540
+100.000
110.230
-
98.000 - 91.800 108.025
101.191
71.000
78.263
- 63.000
69.445
+ 68.000
74.956
+ 78.000
85.979
+ 7.910
17.438
+
8.368 18.448
7.918 +
17.456
8.063
17.776
-
7.810
17.218
-
7.742
17.068
+
7.757
17.101
Steel scrap
(U.S. ton). . + 93.000 + 96.750
(metric ton). .
102.514
106.648
Tin
(pound). . +
(kilogram). .
7.890 17.394
7.805
17.207
Zinc
(pound). . +
(kilogram). .
0.375 o
0.827
0.375
0.827
+
0.380
0.838
+
0.390 0.860
0.385 0.849
0.375
0.827
-
0.368
0.811
-
0.355
0.783
+
0.357
0.787
Burlap
(yard). . +
(meter). .
0.417 0.456
0.404
0.442
-
0.385
0.421
+
0.389 0.425
0.362 0.396
0.350
0.383
-
0.337
0.369
-
0.324
0.354
+
0.330
0.361
Cotton
(pound). . +
(kilogram). .
0.664 +
1.464
0.726
1.601
+
0.810
1.786
-
0.788 1.737
0.787 1.735
0.779
1.717
-
0.725
1.598
+
0.783
1.726
+
0.845
1.863
Print cloth
(yard). . +
(meter). .
0.625 o
0.684
0.625
0.684
+
0.651
0.712
+
0.682 +
0.746
0.695 0.760
0.691
0.756
-
0.690
0.755
-
0.675
0.738
-
0.670
0.733
Wool tops
(pound). . +
(kilogram). .
3.140 +
6.922
3.150
6.944
+
3.200
7.055
+
3.500 7.716
3.460 7.628
3.250
7.165
-
3.200
7.055
o
3.200
7.055
+
3.400
7.496
Hides
(pound). . +
(kilogram). .
0.780 +
1.720
0.825
1.819
-
0.745
1.642
-
0.592 1.305
0.490 1.080
0.405
0.893
-
0.380
0.838
+
0.476
1.049
+
0.520
1.146
Rosin
(100 pounds). . (100 kilograms). .
40.200 88.625
40.000
88.184
+ 42.000
92.593
+
Rubber
(pound). . +
(kilogram). .
0.679 +
1.497
0.743
1.638
+
0.833
1.836
-
0.750 1.653
0.711 1.567
Tallow
(pound). . (kilogram). .
0.185 0.408
0.180
0.397
- 0.170
0.375
+
0.181 0.399
0.180 0.397
48.000 o 48.000 - 46.500
105.821
105.821
102.514
- 45.000
99.207
o 45.000
99.207
o 45.000
99.207
0.682
1.504
-
0.680
1.499
-
+
0.168
0.370
-
0.152
0.335
+ 0.167
0.368
0.678
1.495
0.682
1.504
+ 0.187
0.412
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. The "r" indicates revised;
"p", preliminary; and "NA", not available.
1
Average for August 5, 12, and 19.
2
Data are not seasonally adjusted. Components are converted to metric units by the Bureau of Economic Analysis.
AUGUST 1980
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
GNPAND PERSONAL INCOME
Year
and
quarter
200. Gross national product in current dollars
50. Gross national product in 1972 dollars
a. Total
a. Total
c. Percent
change at
annual rate
b. Difference
(Ann. rate,
bil. dol.)
b. Difference
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
c. Percent
change at
annual rate
(Ann. rate,
bil. dol.)
217. Per capita
GNP in 1972
dollars
213. Final sales
in 1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil. dol.)
1977
First quarter . . ,
Second quarter
Third quarter..
Fourth quarter
22.7
7.4
8.9
4.8
7.0
2.2
6,084
6,145
6,236
6,256
1,304.4
1,317.8
1,337.3
1,350.0
1,367.8
1,395.2
1,407.3
1,426.6
6.5
27.4
12.1
19.3
1.9
8.3
3.5
5.6
6,276
6,390
6,431
6,506
1,351.3
1,379.6
1,395.1
1,414.6
10.6
6.7
11.9
10.5
1,430.6
1,422.3
1,433.3
1,440.3
4.0
-8.3
11.0
7.0
1.1
2.0
6,512
6,460
6,494
6,509
1,418.4
1,404.1
1,426.2
1,439.0
10.8
rO.6
1,444.7
rl,410.9
4.4
r-33.8
1.2
r-9.0
6,514
6,348
1,444.4
rl,407.6
1,820.2
1,876.0
1,930.5
1,971.3
64.1
55.8
54.5
40.8
15.4
12.8
12.1
8.7
1,315.7
1,331.2
1,353.9
1,361.3
27.6
2,011.3
2,104.2
2,159.6
2,235.2
40.0
92.9
55.4
75.6
8.4
19.8
10.9
14.8
2,292.1
2,329.8
2,396.5
2,456.9
56.9
37.7
66.7
60.4
2,520.8
r2,524.6
63.9
r3.8
15.5
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
-2.3
3.1
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
GNP AND PERSONAL INCOME-Con.
Year
and
quarter
PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars
Disposable personal income
224. Current dollars 225. Constant
(1972) dollars
(Ann. rate,
bil. dol.)'
(Ann. rate,
bil. dol.)
231. Total in 1972
dollars
232. Durable goods
in current dollars
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1,250.1
1,286.0
1,323.2
1,361.2
908.0
921.5
936.3
951.8
4,200
4,255
4,313
4,375
1,169.1
1,190.5
1,220.6
1,259.7
849.2
853.1
863.7
880.9
174.3
175.7
178.9
186.4
135.8
136.6
138.2
142.4
1,395.0
1,437.3
1,476.5
1,524.8
956.6
966.1
976.2
991.5
4,390
4,426
4,462
4,522
1,287.2
1,331.2
1,369.3
1,415.4
882.7
894.8
905.3
920.3
185.3
200.3
203.5
212.1
139.3
147.8
147.5
152.1
1,572.2
1,601.7
1,640.0
1,683.1
996.6
993.0
993.4
996.2
4,536
4,510
4,501
4,502
1,454.2
1,475.9
1,528.6
1,580.4
921.8
915.0
925.9
935.4
213.8
208.7
213.4
'216.2
150.2
144.8
146.9
146.7
1,737.4
rl,755.0
998.5
r983.4
4,502
r4,425
1,629.5
rl,628.6
936.5
r912.6
220.2
H95.7
145.4
H27.4
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
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.
Graphs of these series are shown on pages 40 and 41.
AUGUST 1980
OTHER IMPORTANT ECONOMIC MEASURES
A I
NATIONAL INCOME AND PRODUCT—Con.
IM GROSS PRIVATE DOMESTIC INVESTMENT
Q PERSONAL CONSUMPTION EXPENDITURES-Con.
236. Nondurable
goods in current
dollars
Year
and
quarter
(Ann. rate,
bil. dol.)
238. Nondurable
goods in 1972
dollars
(Ann. rate,
bil. dol.)
237. Services in
current dollars
(Ann. rate,
bil. dol.)
239. Services in
1972 dollars
(Ann. rate,
bil. dol.)
240. Total in
current dollars
(Ann. rate,
bil. dol.)
241. Total in
1972 dollars
(Ann. rate,
bil. dol.)
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1977
First quarter
Second quarter
Third quarter
Fourth quarter
467.7
475.5
483.0
499.2
328.9
329.6
332.1
340.0
527.1
539.3
558.7
574.1
384.5
386.9
393.3
398.5
280.4
300.0
315.7
316.9
191.0
199.6
206.7
203.0
261.1
277.5
288.2
298.5
179.7
186.2
190.1
191.7
505.9
521.8
536.7
558.1
337.3
339.4
344.7
351.9
596.0
609.1
629.1
645.1
406.1
407.6
413.1
416.3
327.0
352.3
356.2
370.5
209.0
216.8
214.0
217.4
304.1
326.5
336.1
349.8
192.5
201.2
201.8
205.5
571.1
581.2
604.7
630.7
348.1
344.1
349.2
355.1
669.3
686.0
710.6
733.5
423.5
426.1
429.9
433.6
373.8
395.4
392.3
387.2
217.2
221.7
214.2
207.7
354.6
361.9
377.8
381.7
204.9
203.5
207.1
206.3
652.0
r654.8
354.1
349.1
757.3
r778.0
437.0
r436.1
387.7
r370.3
203.2
H89.0
383.0
r356.7
202.9
r!85.7
. .
....
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
. .
1980
First quarter
Second quarter
Third quarter
Fourth quarter
O
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
^M GOVERNMENT PURCHASES OF GOODS AND SERVICES
30. Change in
business inventories in 1972
dollars
260. Total in
current dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
266. State and
local government
in current dollars
(Ann. rate,
bil. dol.)
267. State and
local government
in 1972 dollars
(Ann. rate,
bil. dol.)
1977
First quarter
Second quarter
Third quarter
Fourth quarter . .
19.3
22.5
27.5
18.5
11.3
13.4
16.6
11.3
380.0
391.6
400.5
412.8
264.5
267.6
270.3
271.5
138.2
142.6
145.6
151.2
100.3
101.8
101.8
241.8
249.0
254.9
261.6
166.0
167.3
168.5
169.8
22.8
25.8
20.0
20.6
16.5
15.6
12.2
12.0
419.4
428.3
440.9
453.8
270.7
271.3
274.7
276.0
150.9
148.2
152.3
159.0
99.9
96.6
98.5
99.3
268.5
280.1
288.6
294.8
170.9
174.7
176.2
176.6
19.1
33.4
14.5
12.3
18.1
460.1
466.6
477.8
501.2
274.7
272.4
273.1
277.1
163.6
161.7
162.9
178.4
101.1
101.1
296.5
304.9
314.9
322.8
173.6
174.3
175.6
176.0
517.2
r528.3
280.0
r281.3
186.2
r!93.3
104.3
H06.9
331.0
r335.0
175.7
r!74.3
98.4
1978
First quarter
Second quarter
Third quarter .
Fourth quarter
1979
First quarter .
Second quarter
Third quarter
Fourth quarter
5.6
7.1
1.4
98.1
97.4
1980
First quarter .
Second quarter
Third quarter
Fourth quarter
4.7
H3.6
0.3
r3.3
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.
Graphs of these series are shown on pages 41, 42, and 43.
http://fraser.stlouisfed.org/AUGUST 1980
Federal Reserve Bank of St. Louis
ItCII
81
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
I
FOREIGN TRADE
Year
and
quarter
(Ann. rate,
bil.dol.)
256. Constant
(1972) dollars
252. Current
dollars
255. Constant
(1972) dollars
250. Current
dollars
Imports of goods
and services
Exports of goods
and services
Net exports of
goods and services
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
NATIONAL INCOME
AND ITS COMPONENTS
220. National income in current
dollars
280. Compensation of
employees
257. Constant
(1972) dollars
253. Current
dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.) ;
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
-9.2
-6.0
-6.3
96.5
99.4
97.3
179.8
184.7
186.4
192.3
85.4
88.5
87.3
91.4
1,456.9
1,505.3
1,551.1
1,589.8
1,110.1
1,141.5
1,170.7
1,205.5
184.4
205.7
213.8
224.9
100.7
109.2
111.9
113.8
206.6
213.3
220.6
229.4
95.4
96.9
98.5
101.0
1,621.0
1,703.9
1,752.5
1,820.0
1,244.0
1,288.2
1,321.1
1,364.8
-11.9
17.0
13.2
20.1
20.1
238.5
243.7
267.3
280.4
117.0
116.0
122.2
124.3
234.4
251.9
269.5
292.4
100.0
102.9
102.1
104.1
1,869.0
1,897.9
1,941.9
1,990.4
1,411.2
1,439.7
1,472.8
1,513.2
-13.6
r-2.5
25.0
r28.1
308.1
r307.1
131.7
r!28.4
321.7
r309.7
106.7
rlOO.4
2,035.4
p2,026.9
1,555.2
rl,567.2
-18.1
11.1
10.9
13.2
5.8
170.5
178.6
180.1
174.2
-22.2
-7.6
-6.8
-4.5
5.3
12.3
13.3
12.9
100.5
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
4.0
-8.1
-2.3
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
NATIONAL INCOME AND ITS COMPONENTS-Con.
Year
and
quarter
282. Proprietors'
income with inventory valuation
and capital consumption adjustments
(Ann. rate,
bil.dol.)
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil.dol.)
286. Corporate
prof its with
inventory valuation
and capital consumption adjustments
(Ann. rate,
bil.dol.)
SAVING
288. Net interest
(Ann. rate,
bil.dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil.dol.)
292. Personal
saving
295. Business
saving
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
107.6
23.6
24.6
25.2
25.5
137.1
148.9
160.8
153.0
89.3
92.7
95.8
98.2
253.3
276.0
291.6
283.6
213.9
226.8
243.2
238.8
52.5
65.9
71.9
69.5
109.1
115.0
117.4
125.7
25.2
24.4
26.8
27.1
141.2
169.4
175.2
184.8
101.5
106.8
111.9
117.6
289.7
329.2
332.7
346.9
234.4
253.1
259.6
264.7
74.6
71.2
70.9
71.5
129.0
129.3
130.3
134.5
27.3
26.8
26.6
27.0
178.9
176.6
180.8
176.4
122.6
125.6
131.5
139.2
362.2
374.3
367.3
351.9
266.0
274.6
281.9
281.0
79.2
85.9
70.3
59.7
130.0
rl!9.5
27.0
27.3
175.0
p!56.0
148.1
H57.0
346.6
P345.8
279.2
p288.9
64.4
r83.6
96.9
97.6
98.6
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
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.
Graphs of these series are shown on pages 44, 45, and 46.
82
AUGUST 1980
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
0| SHARES OF GNP AND NATIONAL INCOME
MM SAVING-Con.
298. Government
surplus or deficit,
total
Year
and
quarter
(Ann. rate,
bil.dol.)
293. Personal
saving rate
(percent of disposable personal
income)
Percent of Gross National Product
235. Personal consumption expenditures, total
(Percent)
(Percent)
248. Nonresidential
fixed investment
249. Residential
fixed investment
247. Change in
business inventories
(Percent)
(Percent)
(Percent)
(Percent)
251. Net exports of
goods and services
1977
First quarter
Second quarter
Third quarter
Fourth quarter
. ..
-13.1
-16.6
-23.5
-24.8
4.2
5.1
5.4
5.1
64.2
63.5
63.2
63.9
-19.2
5.0
2.3
10.8
5.3
5.0
4.8
4.7
15.8
12.7
14.0
10.0
9.9
9.9
10.0
10.1
4.5
4.9
4.9
5.1
1.1
1.2
1.4
0.9
-0.5
-0.3
-0.3
-0.9
64.0
63.3
63.4
63.3
10.1
10.4
10.5
10.6
5.0
5.1
5.1
5.1
1.1
1.2
0.9
0.9
-1.1
-0.4
-0.3
-0.2
5.0
5.4
4.3
3.5
63.4
63.3
63.8
64.3
10.6
10.7
10.9
10.8
4.9
4.8
4.8
4.7
0.8
1.4
0.6
0.2
-0.3
-0.1
-0.5
3.7
64.6
64.5
10.8
rlO.6
4.4
3.5
0.2
0.5
p-0.1
1978
First quarter
Second quarter
Third quarter
Fourth quarter
. ..
1979
First quarter
Second quarter
Third quarter
Fourth quarter . ...
0.2
1980
First quarter
. ...
Second quarter
Third quarter
Fourth quarter
1.7
p-27.8
r4.8
-0.5
[M SHARES OF GNP AND NATIONAL INCOME-Con.
Year
and
quarter
Percent of GNP-Con.
265. Federal Govt.
purchases of goods
and services
(Percent)
Percent of National Income
268. State and
local govt. purchases of goods
and services
(Percent)
64. Compensation of
employees
(Percent)
283. Proprietors'
income with IVA
and CCA 1
(Percent)
285. Rental income
of persons with
CCA
1
(Percent)
287. Corporate
profitswith IVA
and CCA 1
289. Net interest
(Percent)
(Percent)
1977
First quarter
Second quarter
Third quarter
Fourth quarter .
7.6
7.6
7.5
7.7
13.3
13.3
13.2
13.3
76.2
75.8
75.5
75.8
6.7
6.5
6.4
6.8
1.6
1.6
1.6
1.6
7.5
7.0
7.1
7.1
13.3
13.3
13.4
13.2
76.7
75.6
75.4
75.0
6.7
6.7
6.7
6.9
1.6
1.4
1.5
1.5
10.0
10.2
6.3
6.3
6.4
6.5
7.1
6.9
6.8
7.3
12.9
13.1
13.1
13.1
75.5
75.9
75.8
76.0
6.9
6.8
6.7
6.8
1.5
1.4
1.4
1.4
9.6
9.3
9.3
8.9
6.6
6.6
6.8
7.0
7.4
13.1
13.3
76.4
6.4
p77.3
p5.9
1.3
pi. 3
9.4
9.9
10.4
9.6
6.1
6.2
6.2
6.2
1978
First quarter
Second quarter
Third quarter
Fourth quarter
8.7
9.9
1979
First quarter
Second quarter
Third quarter
Fourth quarter
1980
First quarter
Second quarter
Third quarter
Fourth quarter
r7.7
8.6
7.3
P7.7
P7.7
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.
Graphs of these series are shown on pages 46 and 47.
1
IVA, inventory valuation adjustment; CCA, capital consumption adjustment.
http://fraser.stlouisfed.org/ AUGUST 1980
Federal Reserve Bank of St. Louis
ItCII
83
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY
Q| PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972=100)
Fixed weighted price index,
gross business product
310c. Change 311. Index
over 1 -quarter
spans1
(Ann. rate,
percent)
(1972=100)
31 1c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
Consumer prices, all items
320. Index © 320c. Change
over 1-month
spans1
(1967=100)
(Percent)
Consumer prices, food
320c. Change
over 6-month
spans1
(Ann. rate,
percent)
322. Index
(1967=100)
322c. Change
over 1-month
spans1
322c. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
1978
6.3
January
February
March
147!6
April
May
June
iso.'s
July
August
September
issii
October
November
December
156!7
6.6
187.2
188.4
189.8
0.6
0.6
0.8
8.1
8.5
9.2
200.4
202.1
204.5
0.9
0.8
1.2
12.2
12.7
14.6
10.5
191.5
193.3
195.3
0.7
0.8
0.9
9.3
9.3
9.5
207.2
209.6
212.7
1.3
1.2
1.5
13.5
12.8
11.8
8.8
196.7
197.8
199.3
0.7
0.6
0.9
9.7
9.4
8.9
213.5
214.6
216.2
0.4
0.5
0.7
11.0
10.1
9.1
8.7
200.9
202.0
202.9
0.9
0.6
0.6
9.5
10.6
10.9
218.3
219.9
222.2
1.0
0.7
1.0
11.4
13.3
13.8
10.0
204.7
207.1
209.1
0.9
1.1
1.0
11.1
12.0
12.9
225.3
228.4
230.6
1.4
1.4
1.0
12.9
12.8
11.1
10.1
211.5
214.1
216.6
1.0
1.0
1.0
13.2
12.9
13.3
232.0
233.5
234.2
0.6
0.6
0.3
9.1
6.3
6.4
10.4
218.9
221.1
223.4
1.1
1.0
1.2
13.4
13.3
13.8
235.3
235.5
237.9
0.5
0.1
1.0
6.8
6.9
9.3
8.4
225.4
227.5
229.9
1.0
1.0
1.2
14.5
15.3
15.9
239.8
241.4
244.8
0.8
0.7
1.4
8.2
8.0
7.9
11.2
233.2
236.4
239.8
1.4
1.4
1.4
15.7
15.4
14.8
244.8
244.7
247.1
0.0
0.0
1.0
7.3
6.6
4.7
rlO.4
242.5
244.9
247.6
0.9
0.9
1.0
11.7
248.4
249.2
250.5
0.5
0.3
0.5
6.7
247.8
0.0
252.9
1.0
148!2
10.6
152."6
7.2
155!2
8.7
158^5
1979
January
February
March
16CK2
April
May
June
163!8
July
August
September
167!2
October
November
December
17CL6
9.3
162^3
9.3
166^3
8.5
170'.4
8.4
173.*9
...
1980
January
February
March .
174^5
April
May
June
178.*9
July
August
September
9.5
17EL6
rlO.6
rl83.'l
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on pages 48 and 49.
Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter, 1-month
changes are placed on the 2d month, and 6-month changes are placed on the 4th month.
AUGUST 1980
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
Q| PRICE MOVEMENTS-Con.
Producer prices, all commodities
Year
and
month
330. Index©
(1967=100)
330c. Change
over 1 -mo nth
spans1 @
(Percent)
Producer prices, crude materials
Producer prices, industrial commodities
330c. Change
over 6-month
spans1 @
335. Index®
335c. Change
over 1 -month
spans1 @
(Ann. rate,
percent)
(1967=100)
(Percent)
335c. Change
over 6-month
spans1 ®
(Ann. rate,
percent)
331. Index
(1967=100)
331 c. Change
over 1-month
spans1
331c. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
1978
January
February
March
200.1
202.1
203.7
1.0
1.0
0.8
10.7
11.4
11.8
201.6
202.9
204.1
0.8
0.6
0.6
7.2
8.3
8.9
221.6
224.2
229.0
1.2
1.2
2.1
24.6
19.1
21.4
April
May
June
206.5
208.0
209.6
1.4
0.7
0.8
10.9
8.6
8.7
206.1
207.4
208.7
1.0
0.6
0.6
8.6
8.6
8.4
234.5
235.6
241.3
2.4
0.5
2.4
19.9
17.0
16.1
July
August
September
210.7
210.6
212.4
0.5
0.0
0.9
8.3
7.5
7.7
210.1
211.4
212.5
0.7
0.6
0.5
8.5
8.5
8.3
242.6
242.5
246.8
0.5
0.0
1.8
16.6
17.4
13.7
October
November
December
214.9
215.7
217.5
1.2
0.4
0.8
9.8
214.7
216.0
217.2
1.0
0.6
0.6
9.6
13.2
13.9
10.8
12.5
253.2
255.3
257.3
2.6
0.8
0.8
17.2
23.1
23.4
January
February
March
220.8
224.1
226.7
1.5
1.5
1.2
14.5
15.7
15.3
220.0
222.5
225.4
1.3
1.1
1.3
13.8
15.0
16.1
262.6
269.1
274.2
2.1
2.5
1.9
16.4
16.1
17.1
April
May
June
230.0
232.0
233.5
1.5
0.9
0.6
15.1
13.1
14.0
229.0
231.6
234.0
1.6
1.1
1.0
16.5
16.9
17.4
273.2
275.1
278.4
July
August
September
236.9
238.3
242.0
1.5
0.6
1.6
14.0
13.5
14.4
237.5
240.6
244.2
1.5
1.3
1.5
18.2
17.1
17,0
October
November
December
245.6
247.2
249.7
1.5
0.7
1.0
15.8
19.2
rl7.l
249.0
250.6
253.1
2.0
0.6
1.0
20.4
22.1
2.1
2.1
14.1
13.8
12.8
260.6
265.9
r268.6
3.0
2.0
12.0
1979
0.7
1.2
17.5
12.3
12.9
284.6
285.2
291.4
2.2
0.2
2.2
16.2
17.7
17.4
r21.0
294.5
298.4
301.7
1.1
1.3
1.1
10.7
16.2
r6.6
rl.O
18.2
17.1
16.3
299.5
307.5
r300.9
rO.8
11.8
0.2
0.7
290.3
294.1
295.1
1.0
313.6
-0.4
1980
January
February
March
254.9
260.2
r261.9
rO.7
April
May
June
262.3
263.7
265.2
rO.2
0.5
0.6
270.7
271.2
273.0
July
August
September
269.8
1.7
275.6
-0.7
2.7
r-2.1
-3.5
-2.8
-2.9
-4.3
9.6
1.3
0.3
6.3
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by (u). 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.
Graphs of these series are shown on page 48.
1
Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th month.
AUGUST 1980
85
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
Q| PRICE MOVEMENTS-Con.
Producer prices, intermediate materials
Year
and
month
332. Index
(1967=100)
332c. Change
over 1 -month
spans1
(Percent)
Producer prices, finished consumer goods
Producer prices, capital equipment
332c. Change
over 6-month
spans1
(Ann. rate,
percent)
333. Index
(1967=100)
333c. Change
over 1 -month
spans1
(Percent)
333c. Change
over 6-month
spans1
(Ann. rate,
percent)
334. Index
(1967=100)
334c. Change
over 1-month
spans1
(Percent)
334c. Change
over 6-month
spans1
(Ann. rate,
percent)
1978
January
February
March
208.2
209.7
210.9
0.8
0.7
0.6
7.6
7.5
7.9
192.2
193.3
194.5
0.6
0.6
0.6
7.7
7.6
8.1
184.5
186.1
187.2
0.6
0.9
0.6
April
May
June
211.9
213.1
214.5
0.5
0.6
0.7
6.7
6.9
7.1
195.6
197.0
198.6
0.6
0.7
0.8
8.4
8.4
8.4
189.5
190.8
192.2
1.2
0.7
0.7
July
August
September
215.1
216.8
218.3
0.3
0.8
0.7
8.6
9.3
9.3
200.1
201.3
202.5
0.8
0.6
0.6
7.7
8.4
8.0
193.7
194.3
195.7
0.8
0.3
0.7
October
November
December
220.8
222.8
224.3
1.1
0.9
0.7
11.3
11.8
12.6
203.0
205.1
206.4
0.2
1.0
0.6
8.6
9.1
9.2
197.5
198.6
201.1
0.9
0.6
1.3
10.6
12.5
13.4
January
February
March
226.9
229.2
231.6
1.2
1.0
1.0
13.3
13.4
14.2
208.5
210.3
211.6
1.0
0.9
0.6
9.9
9.9
203.7
206.1
208.4
1.3
1.2
1.1
12.7
12.7
11.1
April
May
June
235.0
237.3
239.7
1.5
1.0
1.0
15.3
16.2
17.2
214.0
215.0
216.4
1.1
0.5
0.7
9.5
7.4
7.6
209.7
210.8
212.0
0.6
0.5
0.6
11.2
12.2
13.7
July
August
September
243.6
247.1
250.7
1.6
1.4
1.5
17. 7
218.2
217.9
219.5
0.8
17.6
17.8
-0.1
7.0
7.5
7.9
214.8
218.3
222.2
1.3
1.6
1.8
14.9
16.9
17.6
October
November
December
255.0
257.3
260.2
1.7
0.9
1.1
20.4
21.7
H9.4
221.4
222.9
224.8
0.9
0.7
0.9
9.6
1.2
1.4
0.9
18.3
18.5
rll.7
224.8
227.9
229.9
January
February
March
267.3
272.6
r273.9
2.7
2.0
15.3
14.1
13.4
228.4
230.0
r232.0
1.6
0.7
233.6
237.6
r241.4
1.6
1.7
rO.9
13.5
12.1
12.2
rl.6
April
May
June .
273.8
274.9
277.1
9.2
0.4
0.8
235.9
236.0
238.1
rl.7
11.6
0.0
0.9
241.2
242.1
243.8
r-0.1
0.4
0.7
0.8
241.3
1.3
248.2
1.8
9.3
9.2
9.8
10.2
9.0
9.3
8.6
8.3
9.5
1979
0.7
11.1
11.4
ns.o
1980
July
August
September
.
...
279.3
rO.5
rO.O
15.1
12.8
12.5
12.9
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on page 48.
1
Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th month.
AUGUST 1980
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.
BB WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted 1
Year
and
month
Current dollar earnings
340. Index
(1967=100)
Revised 3
340c. Change
over 1-month
spans2
(Percent)
(3)
Real earnings
340c. Change
over 6-month
spans2
(Ann. rate,
percent)
Revised 3
341. Index
(1967=100)
(3)
34 1c. Change
over 1 -month
spans2
(Percent)
Revised 3
Current dollar compensation
341c. Change
over 6-month
spans 2
(Ann. rate,
percent)
Revised 3
345. Index
(1967=100)
345c. Change
over 1-quarter
spans2
(Ann. rate,
percent)
345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)
1978
January
February
March
205.8
206.5
208.1
1.1
0.3
rO.8
8.5
8.6
9.0
r!09.6
r!09.3
109.4
0.5
-0.3
0.1
0.6
0.3
0.0
220 .*5
209.9
211.1
212.5
rO.9
rO.6
rO.7
8.1
8.4
8.3
H09.6
109.3
r!09.1
0.2
-0.3
-0.2
-0.9
-0.7
-1.0
224.' 4
July
August
September .
214.0
215.0
216.6
rO.7
rO.5
rO.7
8.1
8.0
8.2
r!09.1
rl09.0
108.9
0.0
-0.1
-0.1
-1.5
-1.3
-0.9
228 '.9
October
November
December
218.3
219.4
221.0
rO.8
rO.5
rO.7
8.2
8.5
8.2
108.7
108.6
108.6
-0.2
-0.1
0.0
-1.4
-2.1
-2.9
233!7
222.6
224.0
225.2
rO.7
0.6
0.5
7.8
7.6
7.5
108.4
r!07.8
107.3
-0.2
-0.6
-0.5
-3.3
-4.2
-4.9
239! 5
226.7
227.6
229.2
0.7
rO.4
0.7
7.5
7.6
8.2
H06.9
106.3
105.9
-0.4
-0.6
-0.4
-5.2
-4.9
-4.5
244.' 2
230.8
232.3
234.3
0.7
0.6
0.9
7.5
8.8
9.1
105.5
H05.2
104.9
-0.4
-0.3
-0.3
-5.1
-4.0
-4.0
249 .'2
235.0
237.3
239.4
0.3
1.0
0.9
8.4
8.9
9.6
H04.2
104.1
103.8
-0.7
-0.1
-0.3
-5.3
-5.5
-5.5
254!6
January
February
March
240.3
242.4
245.2
0.4
0.9
1.2
9.8
9.4
9.7
102.7
r!02.2
102.0
-1.1
-0.5
-0.2
-5.2
-5.2
-4.4
261 ".I
April
May
June
246.2
248.3
250.7
0.4
rO.9
1.0
p9.4
101.4
rl01.4
rl01.5
-0.6
0.0
0.1
p-2.0
p251.3
pO.2
pl01.7
pO.2
April . .
May
June
.
....
11.4
s.'i
7.3
8.*9
8.4
8.6
8.6
Q'.Q
1979
January
February
March
April . . . .
May
June
July
August . . . .
September
...
...
October
November
December
10.2
8.9
8.1
8^9
8.5
9^6
9.0
9^7
1980
July
August . . .
September
10.5
rlO.9
r267!s
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on pages 49 and 50.
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Percent changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the
4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month
of the 3d quarter.
3
See "New Features and Changes for This Issue," page iii.
AUGUST 1980
87
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
Qj WAGES AND PRODUCTIVITY-Con.
Average hourly compensation, all employees,
nonfarm business sector-Con.
Year
and
month
Real compensation
346. Index
(1967=100)
346c. Change
over 1-quarter
spans 1
(Ann. rate,
percent)
346c. Change
over4-quarter
spans1
(Ann. rate,
percent)
Negotiated wage and benefit
decisions, all industries®
348. First year 349. Average
average changes changes over
life of
contract
(Ann. rate,
percent)
(Ann. rate,
percent)
Output per hour, all persons, private
business sector
370. Index
(1967=100)
370c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
370c. Change
over 4-quarter
spans 1
(Ann. rate,
percent)
358. Index of
output per hour,
all persons,
nonfarm
business sector
(1967=100)
1978
3.4
January
February
March
116.*6
April
May
June
116.'6
July
August
September
115.'8
October
November
December
115.°6
-2.0
-0.7
-0.8
6!i
6!6
-i!i
-i.'y
13.2
8.2
6.8
6.0
7.2
nsis
n 9*. i
-1.5
119.'7
6.1
5.2
ne!2
6.*7
us.'?
6^3
iiy.'i
-6!?
lU.'e
-l'.6
neis
-\'.i
115!4
-i.'o
115.'6
r-i!6
115.'2
1.9
2.1
5.9
o!i
0.3
119!s
1979
January
February
March
nsis
April
May . . .
June
iu!i
July
August
September
112!9
October .
November
December
-0.9
-4.2
118!9
10.5
-4.0
11K7
4!5
-i.'i
-3.1
5.3
7.8
-1A
-4.3
. .
2.8
-2.6
9.0
nsis
-2.0
-1.4
6.1
117.'s
8.5
-0.3
6.0
117.'7
1980
January
February
March
April
May
June . . .
n6!i
-5.5
p6.4
-0.3
117*.7
r-2.5
riog'.i
p8.6
plO.l
p6.8
114^9
r-2.0
rliy'.l
rl!4.1
July ....
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on pages 49 and 50.
^Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter
changes are placed on the middle month of the 3d quarter.
AUGUST 1980
ItO
OTHER IMPORTANT ECONOMIC MEASURES
C I LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Qj CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
441. Total
442. Em-
ployed
(Thous.)
(Thous.)
Labor force participation rates
451. Males
20 years
and over
452. Females 453. Both
20 years
sexes, 16-19
and over
years of age
(Percent)
(Percent)
(Percent)
448. Num-
Number unemployed
37. Total
(Thous.)
444. Males
445. Females 446. Both
20 years and 20 years and sexes, 16-19
over
over
years of age
(Thous.)
(Thous.)
(Thous.)
447. Fulltime
workers
(Thous.)
ber employed
part-time
for economic
reasons
(Thous.)
1978
99,118
99,009
99,281
92,813
92,921
93,128
79.8
79.7
79.8
48.9
48.8
49.0
57.1
56.8
56.8
6,305
6,088
6,153
2,437
2,361
2,379
2,314
2,126
2,171
1,554
1,601
1,603
4,948
4,812
4,799
3,071
3,227
3,204
April
May
June
99,819
100,242
100,458
93,763
94,116
94,556
79.8
79.9
79.8
49.4
49.5
49.6
57.3
58.3
58.3
6,056
6,126
5,902
2,274
2,278
2,171
2,219
2,295
2,275
1,563
1,553
1,456
4,644
4,802
4,581
3,281
3,226
3,329
July
August
September
100,656
100,731
100,944
94,428
94,802
94,973
79.7
79.7
79.6
49.8
49.6
50.0
58.6
59.1
58.3
6,228
5,929
5,971
2,190
2,177
2,180
2,425
2,219
2,241
1,613
1,533
1 ,550
4,887
4,612
4,647
3,266
3,256
3,248
October
November
December
101,189
101,610
101,815
95,401
95,728
95,831
79.6
79.9
80.0
50.0
50.1
50.1
58.6
58.5
58.5
5,788
5,882
5,984
2,139
2,110
2,198
2,107
2,215
2,212
1,542
1,557
1 ,574
4,475
4,491
4,609
3,231
3,163
3,082
January
February
March
102,061
102,379
102,505
96,157
96,496
96,623
80.0
80.1
79.9
50.1
50.3
50.4
58.9
58.8
58.6
5,904
5,883
5,882
2,167
2,138
2,164
2,195
2,202
2,212
1,542
1,543
1,506
4,514
4,565
4,539
3,203
3,176
3,211
April
May
June
102,198
102,398
102,476
96,254
96,495
96,652
79.8
79.7
79.7
50.2
50.4
50.3
58.2
57.9
57.7
5,944
5,903
5,824
2,190
2,130
2,169
2,199
2,208
2,196
1,555
1,565
1,459
4,637
4,533
4,515
3,279
3,283
3,284
July
August
September
103,093
103,128
103,494
97,184
97,004
97,504
79.9
79.8
79.9
50.8
51.0
50.9
57.9
56.3
58.2
5,909
6,124
5,990
2,254
2,286
2,282
2,160
2,304
2,164
1,495
1,534
1,544
4,617
4,727
4,715
3,274
3,298
3,167
October
November
December
103,595
103,652
103,999
97,474
97,608
97,912
79.7
79.5
79.5
50.9
50.9
51.1
57.9
58.1
58.6
6,121
6,044
6,087
2,317
2,335
2,303
2,250
2,197
2,257
1,554
1,512
1,527
4,796
4,770
4,791
3,315
3,392
3,519
104,229
104,260
104,094
97,804
97,953
97,656
79.4
79.6
79.4
51.4
51.3
51.0
58.2
57.4
57.3
6,425
6,307
6,438
2,577
2,507
2,696
2,304
2,254
2,255
1,545
1,547
1,487
5,046
4,942
5,168
3,513
3,406
3,418
104,419
105,142
104,542
97,154
96,988
96,537
79.5
79.9
79.4
51.5
51.5
51.3
56.3
57.9
56.5
7,265
8,154
8,006
3,246
3,671
3,710
2,534
2,670
2,596
1,485
1,813
1,700
5,875
6,740
6,621
3,816
4,349
3,999
105,203
96,996
79.5
51.6
57.4
8,207
3,730
2,702
1,774
6,781
4,113
January
February
March
1979
1980
January
February
March
April
May
June
July
August
September
. .
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on page 51.
AUGUST 1980
OTHER IMPORTANT ECONOMIC MEASURES
D
I
GOVERNMENT ACTIVITIES
Qj RECEIPTS AND EXPENDITURES
Federal Government 1
Year
and
month
Q| DEFENSE INDICATORS
State and local governments1
Advance measures of defense activity
500. Surplus
or deficit
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bit. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
517. Defense
Department
gross obligations incurred
(Mil. dol.)
525. Defense
Department
military prime
contract awards
(Mil. dol.)
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers'
new orders,
defense products
(Mil. dol.)
(Mil. dol.)
1978
January
February
March
-49!i
39J'.8
447! 3
30 .'2
319^0
288 ! 8
10,537
10,659
10,155
4,853
4,741
4,909
57,304
58,401
58,986
2,735
2,529
4,393
April
May
June
-24!6
424^8
449^4
29!6
330 .'5
301 ! 6
10,242
10,793
10,094
4,970
6,204
7,081
59,348
60,723
60,549
3,761
3,946
3,237
July
August
September
-26!i
442 '.1
462! 6
22.7
331 '.B
309 J
10,327
10,278
10,256
3,928
4,924
4,855
61,833
62,028
62,730
2,157
3,214
3,279
October
November
December
-16\3
463^5
479^7
27J
342 '.6
SIB.'B
10,214
10,484
10,282
4,343
6,509
4,568
63,006
63,440
64,470
3,867
4,381
4,101
475!6
486^8
2?!e
343! 9
316^3
10,787
10,250
11 ,741
5,706
4,773
5,763
65,120
48,267
67,128
2,684
3,871
3,102
-?!6
485 '. 8
492! 9
19^7
345^9
326J
9,297
10,935
10,926
4,936
4,720
5,117
68,883
68,468
68,976
3,181
3,640
2,464
July
August
September
-ii.'s
504! 8
sieii
25^3
359^8
334!5
12,657
11,052
11,965
6,135
5,282
6,364
70,252
81,542
71,886
2,332
3,029
4,237
October
November
December
-IB.'?
524. *7
540 .'4
25. '8
368 J
342 ,'9
11,679
10,730
11,565
4,318
5,670
5,489
64,325
68,634
68,525
3,048
4,033
3,787
-22.9
538.4
561.3
24.6
375.3
350.6
12,563
12,419
14,757
5,515
7,152
5,781
70,088
68,497
72,961
3,352
3,680
4,594
p-48.0
p53K4
r579*.5
p2CL2
p373^7
r353.5
13,639
14,206
12,193
7,572
7,483
(NA)
73,766
74,848
75,204
4,948
5,279
r3,546
1979
January
February
March
April
May . .
June
-1K7
•
1980
January
February
March
April
May
June
July
August
September .
(NA)
(NA)
p4,059
October
November
December .
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal 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.
Graphs of these series are shown on pages 52 and 53.
1
Based on national income and product accounts.
90
AUGUST 1980
ItUI
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Con.
Q| DEFENSE INDICATORS— Con.
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of 559. Manufacdefense and
turers' invenspace equipment tories, defense
products
(1967 = 100)
(Mil. dol.)
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
588. Manufacturers' shipments, defense
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
570. EmployDefense Department
ment in defense
personnel
products
industries
577. Military, 578. Civilian,
active duty ® direct hire
employment @
(Thous.)
(Thous.)
(Thous.)
564. Federal
purchases of
goods and
services
565. Federal
purchases as
a percent of
GNP
(Ann. rate,
bil. dol.)
(Percent)
1978
January
February
March
82.6
80.8
83.9
6,441
6,606
6,626
34,633
34,511
36,108
8,493
8,271
8,375
2,532
2,652
2,795
1,120
1,125
1,138
2,065
2,062
2,058
982
982
982
April
May
June
84.9
84.9
85.6
6,736
6,828
6,804
37,150
38,382
38,914
9,056
8,217
9,072
2,719
2,714
2,705
1,143
1,162
1,173
2,054
2,046
2,057
July
August
September
87.5
87.9
89.0
6,901
6,896
6,905
38,467
38,993
39,499
8,394
9,638
8,592
2,604
2,688
2,773
1,184
1,193
1,195
October
November
December
89.3
90.3
91.4
7,013
7,004
7,170
40,660
42,293
43,563
9,026
8,762
9,407
2,706
2,748
2,832
January
February
March
92.4
92.4
92.9
7,397
7,485
7,586
43,409
44,515
44,588
9,645
9,452
9,525
April
May
June
92.9
92.5
92.3
7,573
7,806
7,953
44,854
45,670
45,138
July
August
September
92.8
92.0
94.0
8,048
8,178
8,553
October
November
December
94.0
95.0
95.9
97.'6
i.'g
982
988
1,000
9&\2
4.7
2,062
2,062
2,062
1,002
994
980
99!6
i.'ei
1,207
1,219
1,236
2,058
2,050
2,041
981
981
978
101 '.2
4^5
2,838
2,765
3,029
1,242
1,262
1,278
2,040
2,030
2,026
972
971
968
102L4
i!s
9,299
9,781
9,425
2,915
2,824
2,996
1,283
1,289
1,299
2,022
2,018
2,024
968
972
979
loe.'o
i'.5
44,656
44,697
46,000
10,499
10,103
9,982
2,814
2,988
2,934
1,310
1,312
1,324
2,027
2,024
2,027
982
974
960
109.'6
4.*5
8,871
9,275
9,462
46,010
46,893
47,492
9,982
10,206
11,182
3,038
3,150
3,188
1,336
1,349
1,356
2,030
2,029
2,020
964
967
967
114.6
4^7
95.8
96.0
96.1
9,592
9,619
10,075
47,769
48,196
49,401
11,341
10,632
11,235
3,076
3,253
3,389
1,359
1,366
1,377
2,029
2,032
2,033
964
965
966
119*.6
4.7
April
May
June
r96.6
r96.1
r96.1
10,277
10,451
10,588
51,061
52,902
r53,011
11,356
11,061
rl 1,480
3,286
3,440
r3,435
1,373
1,375
pi, 373
2,028
2,031
p2,036
969
r975
r988
H24J
4^9
July
August
September
p95.8
(NA)
p53,609
pll,294
p3,459
1979
1980
January
February
March
(NA)
(NA)
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal 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.
Graphs of these series are shown on pages 54 and 55.
AUGUST 1980
91
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS
Qj MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
(Mil.dol.)
604. Exports of agricultural products
(Mil.dol.)
606. Exports of nonelectrical machinery
(Mil.dol.)
612. General imports,
total
614. Imports of
petroleum and
petroleum products
616. Imports of
automobiles and parts
(Mil.dol.)
(Mil.dol.)
(Mil.dol.)
1978
January
February
March
9,863
9,938
11,143
1,818
2,058
2,363
2,084
2,187
2,450
13,103
14,221
14,005
3,000
3,626
3,094
1,529
1,661
1,581
April
May
June
11,628
11,776
12,264
2,428
2,861
2,904
2,415
2,472
2,427
14,491
14,012
13,970
3,162
3,038
3,229
1,715
1,659
1,684
July
August
September
11,656
12,286
13,275
2,392
2,774
2,512
2,451
2,528
2,815
14,543
14,130
14,821
3,194
3,257
3,307
1,812
1,666
1,822
October
November
December
12,901
13,448
13,282
2,596
2,533
2,555
2,625
2,718
2,824
14,852
14,818
15,028
3,347
3,489
3,588
1,872
1,875
1,822
13,265
13,616
14,297
2,338
2,424
2,682
2,682
2,832
2,917
16,528
14,605
15,358
3,580
3,634
3,667
1,963
1,706
1,589
April
May
June
13,979
14,083
14,817
2,547
2,450
2,909
2,706
2,859
3,034
15,841
16,438
16,835
3,832
4,000
4,199
1,956
1 ,851
1,730
July
August
September
15,691
15,713
15,822
3,103
3,141
3,059
3,022
3,241
3,153
16,806
18,277
18,407
4,692
4,949
5,662
1,815
2,113
1,849
October
November
December
16,680
16,928
16,742
3,254
3,415
3,434
3,251
3,172
3,240
19,037
18,548
19,665
6,050
5,351
6,502
1,805
1,984
1,871
January
February
March
17,348
17,233
18,534
3,439
3,520
3,331
3,297
3,454
3,423
20,945
21,640
20,607
5,614
7,741
6,991
1,899
2,035
1,960
April
May
June
18,468
17,678
18,642
3,285
3,083
3,024
3,571
3,620
3,943
19,308
20,528
19,893
5,185
7,191
6,611
1,710
1,999
1,843
(NA)
(NA)
(NA)
(NA)
1979
January
February
March .
. . . .
1980
July
August
September
(NA)
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on page 56.
92
AUGUST
1980
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS—Con.
B9 GOODS AND SERVICES MOVEMENTS ( E X C L U D I N G TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted 1
Goods and services
Year
and
month
667. Balance
(Mil. dol.)
668. Exports
(Mil. dol.)
669. Imports
(Mil. dol.)
622. Balance
(Mil. dol.)
618. Exports
(Mil. dol.)
Income on investments
620. Imports
(Mil. dol.)
651. U.S. investments abroad
(Mil. dol.)
652. Foreign
investments in
the U.S.
(Mil. dol.)
1978
January
February
March
-4,969
49,319
54,288
-11,141
30,922
42,063
9,607
4,539
April
May
June
-2,795
54,156
56,951
-8,295
35,404
43,699
9,957
5,474
July
August
September
-1,933
56,432
58,365
-7,508
36,823
44,336
10,557
5,717
October
November
December
493
61,131
60,638
-6,815
38,900
45,715
12,851
6,343
2,732
65,667
62,935
-5,114
41,805
46,919
14,263
7,225
-110
67,763
67,873
-8,070
42,815
50,885
15,250
7,980
July
August
September
2,506
74,773
72,267
-7,060
47,198
54,258
18,050
8,731
October
November
December
-250
78,305
78,555
-9,225
50,237
59,462
18,407
9,524
p-691
p85,325
p86,016
p-10,875
p54,708
p65,583
p20,548
p!0,425
p~7,770
p54,686
p62,456
1979
January
February
March
April
May
June
1980
January
February
March
April
May
June
(NA)
(NA)
(NA)
(NA)
(NA)
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. UiInadjusted 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.
Graphs of these series are shown on page 57.
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and
Department of Defense purchases (imports).
ItO
AUGUST 1980
93
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS
ffl|
47. United States, 721.0ECD 1
European counindex of industrial production
tries, index of
industrial
production
Year
and
month
(1967=100)
(1967=100)
728. Japan,
index of industrial production
(1967=100)
INDUSTRIAL PRODUCTION
725. West
Germany, index
of industrial
production
726. France,
index of industrial production
722. United
Kingdom, index
of industrial
production
(1967=100)
(1967=100)
(1967=100)
727. Italy, index
of industrial
production
(1967=100)
723. Canada,
index of industrial production
(1967=100)
1978
January
February
March
140.0
140.3
142.1
153
152
150
196.9
197.0
199.5
157
152
152
152
152
155
123
124
123
143.8
146.1
145.9
150.0
151.8
152.2
April
May
June .
144.4
144.8
146.1
153
152
153
200.5
201.5
201.8
153
152
154
161
157
152
128
126
128
143.5
143.8
145.3
154.3
151.8
154.8
July
August
September
147.1
148.0
148.6
153
152
154
201.8
204.1
206.0
157
156
159
155
155
157
128
128
128
144.4
143.7
146.2
154.1
154.0
158.8
October
November
December
149.7
150.6
151.8
157
157
158
206.9
207.6
210.1
159
159
159
157
159
161
125
126
129
154.3
154.7
151.9
158.3
158.8
161.8
January
February
March
151.5
152.0
153.0
154
156
157
210.2
213.1
213.1
159
157
161
158
159
161
122
132
133
152.8
160.0
156.0
160.8
161.0
162.0
April
May .
June
150.8
152.4
152.6
158
158
158
214.4
218.2
218.5
161
r!64
164
159
r!63
161
132
134
136
156.7
151.9
145.1
160.3
162.1
160.6
July
August
September
152.8
151.6
152.4
163
158
161
221.2
221.8
220.5
168
164
164
168
168
165
134
130
128
150.4
150.1
159.4
163.1
163.3
165.4
October
November
December
152.2
152.1
152.2
r!61
163
163
225.0
228.1
228.4
166
167
167
161
163
165
r!29
132
130
166.8
167.3
164.7
164.7
163.7
160.8
152.6
152.3
151.7
164
164
pi 65
230.9
243.3
r235.0
168
170
170
165
166
r!65
130
r!29
126
166.8
174.0
173.2
161.1
161.2
H64.2
(NA)
238.8
p236.4
(NA)
168
p!66
(NA)
166
p!62
(NA)
r!24
p!24
(NA)
r!75.5
plSl.2
(NA)
H60.9
157.6
p!57.3
...
1979
1980
January
February
March
April
May
June
r!48.2
r!44.3
rHl.O
July
August .
September
p!38.8
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
AUGUST 1980
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Con.
JQ CONSUMER PRICES
Year
and
month
United States
Japan
West Germany
France
United Kingdom
320. Index® 320c. Change
over 6-month
spans1
738. Index® 738c. Change
over 6-month
spans1
735. Index® 735c. Change
over 6-month
spans1
736. Index® 736c. Change
over 6-month
spans1
732. Index® 732c. Change
over 6-month
spans1
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
187.2
188.4
189.8
8.1
8.5
9.2
246.1
247.1
249.4
3.0
3.9
4.1
158.3
159.1
159.5
2.4
2.4
2.5
222.8
224.4
226.4
8.4
9.3
9.9
304.4
306.2
308.1
6.7
6.5
6.8
April
May
June
191.5
193.3
195.3
9.3
9.3
9.5
252.1
253.5
252.1
5.4
5.9
3.6
160.0
160.3
160.8
2.8
2.2
1.9
228.9
231 .1
232.8
11.7
11.2
10.1
312.6
314.4
316.8
8.4
9.0
8.5
July
August
September
196.7
197.8
199.3
9.7
9,4
8.9
253.1
253.3
256.4
3.6
3.1
2.9
160.5
160.3
160.2
2.1
2.4
2.5
235.7
237.1
238.6
10.2
318.2
320.3
321.6
8.8
9.4
9.8
October
November
December
200.9
202.0
202.9
9.5
256.8
254.1
253.7
1.2
10.6
10.9
0.9
160.3
160.8
161.4
3.0
3.5
4.3
240.8
242.1
243.2
10.4
January
February
March
204.7
207.1
209.1
11.1
12.0
12.9
253.9
253.1
255.1
1.8
3.1
4.6
162.9
163.6
164.4
4.4
4.3
4.7
245.5
247.1
249.4
10.4
10.9
April
May
June
211.5
214.1
216.6
13.2
12.9
13.3
258.6
261 .3
261.5
7.3
7.0
5.3
165.3
165.7
166.6
6.0
5.8
5.8
251.8
254.5
256.6
11 .9
July
August
September
218.9
221.1
223.4
13.4
13.3
13.8
263.8
261.1
264.4
6.7
6.9
6.9
167.7
167.8
168.3
6.0
6.4
6.1
October
November
December
225.4
227.5
229.9
14.5
15.3
15.9
267.7
266.7
268.3
6.0
8.9
10.8
168.7
169.3
170.1
January
February
March
233.2
236.4
239.8
15.7
15.4
14.8
270.8
273.3
275.5
9.9
9.5
9.9
April
May
June
242.5
244.9
247.6
11.7
280.2
282.7
283.5
July
August
September
247.8
1978
January
February
March
. . .
-0.7
9.8
9.6
8.7
9.1
323.1
325.3
328.0
10.3
10.2
11.2
332.9
335.6
338.3
11.4
11.4
13.2
12.6
11.7
344.1
346.8
352.8
21.5
21.4
22.1
260.0
262.7
264.9
12.7
12.4
12.8
368.0
370.9
374.6
23.2
23.7
21.5
4.0
5.4
5.6
268.1
269.8
272.0
14.2
14.7
15.6
378.5
381 .8
384.6
15.4
16.8
17.4
171.0
172.8
173.8
5.6
5.6
5.7
277.2
280.2
283.4
15.0
15.0
14.1
394.1
399.7
405.1
20.4
20.5
20.5
174.9
175.6
176.5
6.9
286.7
289.3
291.1
(NA)
419.0
422.8
426.8
18.5
1979
9.8
1980
(NA)
(NA)
176.8
(NA)
430.4
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal 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.
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.
ItUI
AUGUST
1980
95
OTHER IMPORTANT ECONOMIC MEASURES
F |
INTERNATIONAL COMPARISONS—Con.
jQ STOCK PRICES
Q CONSUMER PRICES-Con.
19. United
States, index
of stock
737. Index® 737c. Change 733. Index® 733c. Change prices, 500
over 6-month
over 6-month common
stocks®
spans1
spans1
Canada
Italy
Year
and
month
(1967=100)
(Ann. rate,
percent)
January
February
March
271.1
273.9
277.4
10.3
10.9
11.5
194.0
195.3
197.5
April
May
June
280.0
282.7
285.1
12.1
12.6
12.0
197.9
200.7
202.4
July
August
September
286.8
288.3
292.9
12.7
11.8
11.5
October
November
December
295.5
298.6
300.1
January
February
March .
(1967=100)
(Ann. rate,
percent)
(1967=100)
748. Japan,
index of
stock
prices®
745. West
Germany,
index of
stock
prices®
746. France, 742. United
Kingdom,
index of
index of
stock
stock
prices®
prices®
747. Italy,
index of
stock
prices®
743. Canada,
'ndex of
stock
prices®
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
98.0
1978
8.5
9.3
9.6
98.2
96.8
96.6
339.0
348.3
359.7
126.5
127.9
126.1
100.3
120.0
198.2
187.7
187.5
40.7
43.5
42.8
99.1
98.7
105.3
9.6
7.3
100.8
106.0
106.2
371.8
371.0
373.2
124.9
124.0
127.1
130.6
133.3
135.7
191.9
202.9
201.2
41.4
43.2
44.0
106.9
109.4
109.1
205.4
205.5
205.2
8.6
8.2
7.7
105.7
113.0
113.0
382.8
380.3
387.6
129.1
132.3
136.4
149.8
150.6
165.1
204.4
220.3
223.3
44.8
48.4
57.3
116.7
120.8
129.5
12.7
13.8
14.1
207.3
209.0
209.6
6.8
8.7
109.4
103.3
104.5
395.0
398.9
404.9
138.7
134.8
133.9
158.7
155.4
158.7
217.4
208.1
213.3
57.5
51.6
51.2
122.3
129.1
131.7
305.1
309.7
313.8
14.5
15.6
15.6
211.2
213.2
215.7
9.9
108.5
106.9
108.9
416.1
409.9
405.7
135.0
131.9
131.2
160.9
149.9
155.4
211.1
212.2
240.8
52.4
54.8
57.9
138.4
141.1
150.7
April
May
June
317.8
321.3
323.9
14.9
15.5
17.8
217.2
219.3
220.3
9.5
8.5
8.5
111.0
108.5
110.7
402.9
411.1
402.3
130.6
127.8
121.7
164.5
162.0
171.7
255.7
255.0
241.0
54.1
56.8
58.0
149.5
154.8
168.9
July
August
September
326.7
330.6
339.2
19.2
19.4
21.7
222.1
222.9
224.9
7.9
8.8
9.5
111.7
116.8
118.1
400.6
408.0
412.5
122.0
124.3
125.7
173.7
188.6
207.4
232.8
233.9
236.3
58.8
61.7
63.0
159.4
178.6
191.7
October
November
December
345.5
350.3
356.6
25.8
26.1
23.1
226.5
228.7
230.1
10.0
10.4
113.6
112.8
117.2
408.2
403.4
410.8
123.5
118.3
118.8
187.5
189.1
186.8
238.9
215.6
217.1
62.6
58.6
55.4
175.2
189.3
199.5
January
February
March
367.9
374.3
378.2
23.0
22.3
20.2
231.3
233.3
235.8
10.3
120.6
125.5
113.9
420.1
425.5
413.0
117.2
123.3
118.1
203.8
207.4
185.4
224.3
239.4
231.6
59.8
61.1
61.1
224.7
256.3
203.2
April
May
June
384.3
387.8
391.3
18.0
237.2
240.0
242.7
10.0
112.0
117.1
124.6
417.6
422.9
423.8
116.5
118.8
120.6
189.0
201.1
rp203.6
228.1
p231.3
p239.5
61.0
61.5
64.8
212.8
216.4
227.5
130.4
p!33.7
424.9
p424.8
121.2
p!21.4
rp202.2
p205.5
rp256.1
p255.8
rp66.4
p76.0
rp230.4
p249.0
11.0
10.9
1979
10.9
10.1
9.9
1980
July
August
September
398.0
9.9
10.6
244.5
. ..
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare 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.
Graphs of these series are shown on page 59.
1
Changes over 6-month spans are centered on the 4th month.
96
AUGUST
1980
C. Historical Data for Selected Series
Quarterly
Monthly
Year
Jan.
Mar.
Feb.
Apr.
May
June
1. AVERAGE WORKWEEK OF PRODUCTION
(HOURS)
1948. . .
1949. ..
1950. ..
1951. . .
1952. . .
1953. . .
1954. . .
1955. . .
1956. . .
40.4
39.4
39.6
40.8
40.7
41.0
39.5
40.3
40.8
40.2
39.4
39.7
40.8
40.7
41.0
39.7
40.5
40.6
40.4
39.1
39.7
41.0
40.6
41.1
39.5
40.7
40.4
40.4
38.8
40.1
41.2
40.1
41.1
39.4
40.6
40.6
1958. . .
1959. ..
1960. ..
1961. . .
1962. . .
1963...
38.8
40.1
40.5
39.2
40.0
40.4
38.6
40.2
40.1
39.3
40.3
40.3
38.7
40.4
39.9
39.4
40.5
40.4
1964...
1965. ..
1966. ..
1967. ..
1968.. .
1969. . .
1970. ..
1971. ..
1972. ..
1973. ..
1974. ..
1975...
1976. ..
1977. ..
1978. . .
1979. ..
1980. ..
40.1
41.2
41.4
41.0
40.3
40.7
40.4
39.9
40.2
40.4
40.5
39.2
40.5
39.6
39.7
40.6
40.6
41.2
41.6
40.4
40.9
40.4
40.2
39.7
40.4
40.9
40.4
38.9
40.3
40.3
40.0
40.6
40.6
41.4
41.5
40.4
40.7
40.8
40.1
39.8
40.4
40.8
40.4
38.8
40.2
40.3
40.5
40.6
July
Aug.
Sept.
Annual
Oct.
Nov.
Dec.
IQ
II Q
III Q
IV Q
WORKERS, MANUFACTURING1
AVERAGE FOR PERIOD
38.7
40.2
40.2
39.3
40.3
40.4
40.3
38.9
40.3
40.9
40.3
40.9
39.5
40.7
40.3
39.9
38.8
40.5
39.8
39.7
40.5
40.4
39.9
39.2
40.9
40.4
40.5
40.3
39.6
40.6
40.3
39.8
39.4
40.2
39.6
39.9
40.4
40.5
39.6
39.2
40.9
40.4
41.1
39.8
39.9
40.9
40.5
39.2
39.7
40.0
39.1
40.3
40.2
40.6
40.0
39.1
40.5
40.6
40.7
40.5
39.6
40.7
40.4
39.8
39.2
40.3
39.7
39.8
40.4
40.5
41.1
41.4
40.9
40.7
40.7
40.5
39.5
40.2
40.5
40.6
39.3
40.2
40.0
40.4
40.6
40.2
40.4
41.3
41.5
40.6
40.6
40.6
40.2
39.8
40.3
40.7
40.4
39.0
40.3
40.1
40.1
40.6
40.7
41.1
41.4
40.4
40.6
40.7
39.9
39.9
40.6
40.7
39.9
39.1
40.0
40.5
40.6
39.9
40.7
41.0
41.3
40.6
40.8
40.6
39.7
39.7
40.6
40.6
40.1
39.7
40.1
40.3
40.5
40.1
40.8
41.3
41.1
40.6
40.8
40.5
39.5
40.0
40.7
40.6
39.6
40.0
40.0
40.4
40.6
40.1
40.7
41.2
41.4
40.6
40.7
40.6
39.8
39.9
40.5
40.7
40.0
39.5
40.1
40.3
40.4
40.2
40.2
38.9
40.5
40.7
40.5
40.7
39.6
40.6
40.1
39.9
39.0
40.5
39.8
39.9
40.4
40.6
40.1
39.1
40.8
40.5
40.1
40.6
39.6
40.6
40.2
39.9
39.2
40.2
39.8
40.0
40.4
40.5
40.0
39.0
41.1
40.2
40.5
40.4
39.7
40.6
40.2
39.8
39.4
40.3
39.7
40.1
40.3
40.4
39.6
39.4
40.8
40.4
41.0
39.8
39.5
40.7
40.4
39.7
39.6
40.1
39.4
39.5
40.5
40.6
39.7
39.4
40.9
40.2
41.1
40.0
39.6
40.9
40.5
39.3
39.5
40.1
39.6
40.2
40.2
40.6
39.7
39.0
40.9
40.3
41.0
39.8
40.1
41.0
40.4
39.2
39.8
39.8
39.2
40.5
40.3
40.5
39.5
39.3
40.8
40.6
41.1
39.6
40.0
40.8
40.5
39.0
39.8
40.2
38.4
40.3
40.2
40.6
40.3
39.3
39.7
40.9
40.7
41.0
39.6
40.5
40.6
38.6
40.5
39.7
39.6
40.7
40.2
40.2
38.9
40.2
40.9
40.4
40.9
39.5
40.9
40.2
39.8
38.8
40.6
40.0
39.6
40.5
40.5
40.8
41.0
41.5
40.5
40.0
40.7
39.9
39.7
40.7
40.9
39.3
39.2
39.6
40.5
40.9
39.3
40.7
41.2
41.4
40.4
40.9
40.7
39.8
39.9
40.5
40.7
40.3
39.0
40.3
40.4
40.4
40.2
40.7
41.1
41.4
40.4
40.9
40.7
39.9
40.0
40.6
40.6
40.2
39.2
40.2
40.5
40.4
40.1
40.8
41.1
41.2
40.5
40.8
40.6
40.0
39.9
40.5
40.7
40.2
39.4
40.3
40.3
40.5
40.1
40.9
41.0
41.4
40.6
40.7
40.6
39.8
39.8
40.6
40.5
40.2
39.7
40.1
40.3
40.4
40.1
40.5
40.8
41.3
40.7
40.9
40.7
39.3
39.4
40.6
40.7
40.0
39.9
39.8
40.4
40.5
40.1
40.6
41.2
41.3
40.6
40.9
40.6
39.5
39.9
40.7
40.6
40.0
39.8
40.0
40.5
40.5
40.1
40.8
41.3
41.2
40.6
40.8
40.4
39.5
40 .0
40.8
40.7
39.5
39.9
40.1
40.4
40.6
40.1
2. ACCESSION RATE, MANUFACTURING'
(PER 100 EMPLOYEES)
AVERAGE FOR PERIOD
1948. . .
1949. . .
1950. . .
1951. . .
1952. . .
1953...
1954. . .
1955. . .
1956. ..
1957. . .
1958. . .
1959. . .
1960. . .
1961. ..
1962. . .
1963. . .
5.6
3.9
4.4
6.4
5.4
5.7
3.5
.1
.2
.1
.1
.2
.4
3.7
4.3
3.8
6.5
4.0
4.4
6.2
5.2
5.8
3.3
4. 3
4.2
3.9
3.0
4.4
4.0
3.7
4.3
3.9
5.2
3.9
4.8
6.0
5.0
5.7
3.5
4.6
4.1
3.8
3.1
4.6
3.7
4.3
4.2
3.9
5.5
4.0
4.8
5.8
4.8
5.6
3.2
4.7
4.3
3.6
3.2
4.4
3.7
4.2
4.1
3.9
5.3
4.4
5.3
5.5
4.9
5.2
3.3
4.5
4.1
3.6
3.6
4.3
3.7
4.2
4.2
3.8
6.2
4.7
5.2
5.1
5.0
5.0
3.7
4.3
4.1
3.8
3.8
4.1
3.8
4.1
4.1
3.9
5.6
4.3
5.6
5.0
5.2
4.8
3.7
4.2
3.9
3.8
3.9
4.0
3.6
4.1
4.2
3.9
5.2
4 .4
6.6
4.7
6.3
4.6
3.4
4. 5
3.9
3.3
4.1
4.1
3.8
4.1
4.0
3.8
5.1
4.3
6.0
4.6
5.7
4.1
3.6
4. 5
4.3
3.2
3.9
4.0
3.8
3.8
4.0
3.9
5.1
4.1
5.8
4.8
5.8
3.7
4.1
4.8
4.2
5.1
5.2
5.5
3.4
4.3
4.5
5.4
5.3
5.2
5.8
3.5
4.2
5.8
3.9
4.5
6.2
5.2
5.7
3.4
5.7
4.4
5.1
5.5
4.9
5.3
3.4
5.3
4.3
6.1
4.8'
5.7
4.5
3.6
4.8
4.6
5.4
5.1
5.7
3.5
4.2
5.4
4.3
5.3
5.3
5.4
4.8
3.6
4.6
3.3
3.9
3.8
3.5
4.2
3.8
3.9
4.2
3.1
3.9
4.f
3.6
4.2
3.8
3.7
4 .2
2.8
4.0
5.4
3.6
4.2
3.8
3.8
4 .2
3.9
3.1
4.4
4.0
3.9
4.3
3.9
4.2
3.7
3.5
4.3
3.7
4.2
4.1
3.9
4.0
3.4
4.0
4.0
3.7
4.0
4.1
3.9
4.3
3.1
3.9
4.4
3.6
4.2
3.8
3.8
4.2
3.6
3.6
4.2
3.8
4.1
4.1
3.9
1964...
1965. . .
1966. . .
3.8
4.1
4.9
3.9
4.2
5.0
3.9
4.3
5.3
4.0
4.1
5.1
4.0
4.1
5.0
3.9
4.2
4.9
4.1
4.2
4.9
4.1
4.3
5.0
3.9
4.5
5.0
4.1
4.4
4.9
3.9
4.7
4.7
4.0
4.9
4.7
3.9
4.2
5.1
4.0
4.1
5.0
4.0
4.3
5.0
4.0
4.7
4.8
4.0
4.3
5.0
1968. . .
4.4
4.4
4^6
4^9
4!e
1970! '. '.
1971. . .
1972. ..
1973.. .
1974...
1975. ..
1976. ..
1977...
1978. ..
1979...
1980. ..
4!4
3.8
4.3
5.0
4.7
3.0
4.2
4.0
4.1
4.2
4!4
3.7
4.3
5.2
4.6
3.2
4.1
4.4
3.9
4.1
4.0
3.9
4.4
4.7
4.1
4.0
3.8
3.9
4.1
3.9
3.8
4.0
4.7
4.8
3.4
3.8
3.8
4.2
4.3
4.0
4.0
3.9
4.5
4.8
4.2
3.7
3.9
4.0
4.1
4.0
4^6
4!o
3.7
4.4
5.1
4.5
3.2
4.2
4.0
4.0
4.0
4.6
4.6
4.5
4.5
4.7
4.6
4.8
4.9
4.9
4!s
4!e
4*.0
3.8
4.4
4.9
4.6
3.6
4.0
4.0
4.2
4.0
4il
3.8
4.4
4.8
4.5
3.7
4.0
4.0
4.0
4.0
4il
3.8
4.3
4.7
4.3
3.8
3.8
4.0
4.0
4.0
4.1
3.8
4.3
4.6
4.3
4.0
3.9
4.0
4.0
3.9
3.9
4.0
4.5
4.6
4.1
4 .0
3.8
3.9
4.1
3.9
3.9
4.0
4.5
4.8
4.0
3.9
3.7
3.9
4.2
3.9
3.8
3.9
4.6
4.8
3.8
3.8
3.7
4.0
4.3
4.1
3.7
4.0
4.7
5.0
3.3
3.8
3.8
4.1
4.3
4.0
3.8
4.2
4.9
4.7
3.1
3.8
3.9
4.4
4.4
3.9
4.3
3.7
4.3
5.1
4.6
3.1
4.2
4.1
4.0
4.1
4.1
3.8
4.4
4.8
4.5
3.7
3.9
4.0
4.1
4.0
3. LAYOFF RATE, MANUFACTURING2
(PER 100 EMPLOYEES)
AVERAGE FOR PERIOD
1948 . . .
1949. ..
1950. ..
1951. . .
1952...
1953. ..
1954. ..
1955. . .
1956. ..
1957...
1958. . .
1959. . .
1960. ..
1961. ..
1962...
1963...
1.4
3.0
1.8
1.1
1.5
0.9
2.9
1.5
1.6
1.5
3.3
1.8
1.5
2.7
1.9
2.0
2.0
2.7
2.1
1.0
1.5
1.0
2.7
1.4
2.2
1.7
3.2
1.7
1.9
3.0
2.0
1.8
1.4
3.1
1.6
1.0
1.4
1.0
2.8
1.5
1.8
1.5
3.5
1.7
2.4
2.5
1.8
1.9
1.4
3.2
1.4
1.1
1.6
1.1
2.7
1.4
1.6
1.7
3.3
1.7
2.3
2.1
1.8
1.9
1.2
3.4
1.2
1.3
1.3
1.2
2.4
1.4
2.2
2.0
3.1
1.7
2.3
2.3
2.0
1.8
1.3
3.1
1.1
1.3
1.5
1.2
2.3
1.7
1.8
1.7
2.4
1.8
2.5
2.2
2.0
1.8
1.4
2.9
0.8
1.8
3.0
1.4
2.1
1.8
1.7
1.8
2.5
1.8
2.4
2.3
2.0
1.7
1.7
2.7
0.8
1.8
1.3
1.7
2.2
1.7
1.5
2.1
2.3
2.0
2.6
1.9
2.2
1.9
1.3
2.4
1.0
1.7
0.9
1.9
2.1
1.4
1.8
2.3
2 .2
2.1
2.4
2.2
2.0
1.9
1.5
2.9
1.0
1.7
0.8
2.2
1.9
1.5
1.6
2.7
2.0
2.9
2.6
1.8
2.1
1.8
1.8
2.8
1.2
1.7
0.8
2.5
1.8
1.3
1.6
2.9
1.9
2.4
2.6
1.9
1.9
1.8
2.4
2.1
1.3
1.5
1.0
2.6
1.8
1.5
1.5
2.8
2.0
1.9
2.8
1.9
1.9
1.7
1.6
2.9
1.8
1.0
1.5
1.0
2.8
1.5
1.9
1.6
3.3
1.7
1.9
2.7
1.9
1.9
1.3
3.2
1.2
1.2
1.5
1.2
2.5
1.5
1.9
1.8
2.9
1.7
2.4
2.2
1.9
1.8
1.5
2.7
0.9
1.8
1.7
1.7
2.1
1.6
1.7
2. 1
2.3
2.0
2.5
2.1
2.1
1.8
1.9
2.6
1.2
1.6
0.9
2.4
1.8
1.4
1.6
2 .8
2.0
2.4
2 .7
1.9
2.0
1.8
1.6
2.9
1.3
1.4
1.4
1.6
2.3
1.5
1.7
2.1
2.6
2.0
2.4
2.2
2.0
1.8
1964. ..
1965. . .
1966. . .
1967. ..
1968. ..
1969. . .
1970. ..
1971. . .
1972...
1973. ..
1974. ..
1975. . .
1976. ..
1977...
1978...
1979. ..
1980...
1.7
1.4
1.2
1.4
1.4
1.1
1.5
1.7
1.2
0.9
1.4
2.9
1.2
1.3
1.0
0.9
1.9
1.4
1.1
1.5
1.3
1.1
1.7
1.5
1.2
0.8
1.3
3.0
1.0
1.5
1.0
0.9
1.8
1.4
1.1
1.6
1.2
1.1
1.8
1.5
1.1
0.9
1.2
2.7
1.2
1.2
1.0
0.9
1.6
1.5
1.2
1.5
1.2
1.0
1.9
1.5
1.2
0.8
1.1
2.6
1.3
1.1
1.0
1.1
1.7
1.4
1.1
1.4
1.2
1.1
1.9
1.6
1.2
0.9
1.1
2.5
1.2
1.1
1.0
1.0
1.6
1.4
1.3
1.3
1.2
1.1
1.9
1.5
1.4
0.9
1.1
2.2
1.3
1.1
0.9
1.2
1.6
1.4
1.4
1.4
1.3
1.1
1.5
1.5
1.4
1.2
1.1
1.7
1.3
1.2
0.9
1.1
1.5
1.6
1.2
1.3
1.4
1.1
1.9
2.0
1.1
1.0
1.4
1.6
1.4
1.2
0.9
1.4
1.6
1.4
1.0
1.3
1.2
1.2
1.9
1.7
1.0
0.9
1.3
1.7
1.4
1.1
0.8
1.2
1.7
1.4
1.1
1.3
1.2
1.3
2.2
1.5
1.0
0.8
1.8
1.5
1.4
1.0
0.9
1.2
1.5
1.4
1.2
1.2
1.1
1.3
2.0
1.4
0.9
1.0
2.5
1.5
1.3
1.0
0.9
1.3
1.6
1.4
1.3
1.2
1.1
1.4
1.7
1.3
0.9
1.1
2.5
1.3
1.2
1.0
1.0
1.2
1.8
1.4
1.1
1.5
1.3
1.1
1.7
1.6
1.2
0.9
1.3
2.9
1.1
1.3
1.0
0.9
1.6
1.4
1.2
1.4
1.2
1.1
1.9
1.5
1.3
0.9
1.1
2.4
1.3
1.1
1.0
1.1
1.6
1.5
1.2
1.3
1.3
1.1
1.8
1.7
1.2
1.0
1.3
1.7
1.4
1.2
0.9
1.2
1.6
1.4
1.2
1.2
1.1
1.3
2.0
1.4
0.9
1.0
2.3
1.4
1.3
1.0
0.9
1.2
1.7
1.4
1.2
1.4
1.2
1.2
1.8
1.6
1.1
0.9
1.5
2.1
1.3
1.1
0.9
1.1
]
This series contains revisions beginning with 1975.
2
This series contains revisions beginning with 1976.
(AUGUST 1980)
97
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
4. QUIT RATE, MANUFACTURING 1
(PER 100 EMPLOYEES)
1948. . .
1949. ..
1950...
1951. . .
1952. . .
1953. . .
1954. . .
1955. . .
1956...
1957. . .
1958. . .
1959. ..
1960.
..
1961. . .
1962. ..
1963. . .
1964...
1965. . .
1966. . .
1967.
..
1968...
1969.. .
1970.
1971.
1972.
..
..
..
1973...
1974.
..
1975...
1976...
1977.
..
1978...
1979.
1980.
..
..
II Q
III Q
Annual
IV Q
AVERAGE FOR PERIOD
3.7
2.5
1.6
3.2
2.8
3.1
1.7
1.6
2.1
1.9
1.1
1.4
1.5
1.1
1.4
1.3
3.6
2.2
1.5
3.3
2.8
3.2
1.6
1.6
2.0
1.9
1.1
1.3
1.6
1.1
1.5
1.3
3.7
2.1
1.6
3.4
2.8
3.5
1.4
1.8
2.0
1.8
1.0
1.5
1.5
1.1
1.4
1.4
3.6
2.1
1.6
3.4
2.7
3.3
1.4
1.8
1.9
1.7
0.9
1.5
1.5
1.1
1.4
1.4
3.5
2.0
1.9
3.3
2.6
3.3
1.3
1.9
1.9
1.7
0.9
1.6
1.4
1.1
1.5
1.4
3.7
1.8
2.1
3.0
2.7
3.2
1.3
1.8
2.0
1.6
1.0
1.5
1.4
1.2
1.5
1.4
3.5
1.7
2.2
3.0
2.6
3.0
1.3
1.9
1.9
1.6
1.0
1.5
1.4
1.2
1.4
1.4
3.3
1.7
2.7
2.8
2.7
2.7
1.3
2.0
1.9
1.6
1.1
1.5
1.3
1.2
1.5
1.5
3.2
1.7
2.8
2.5
2.8
2.4
1.4
2.1
1.9
1.6
1.1
1.5
1.3
1.3
1.4
1.4
3.0
1.6
2.9
2.7
3.0
2.3
1.3
2.0
1.9
1.4
1.2
1.5
1.2
1.3
1.4
1.4
3.0
1.6
2.9
2.6
3.0
2.2
1.5
2.1
1.8
1.3
1.2
1.5
1.1
1.4
1.4
1.4
2.8
1.5
3.0
2.5
3.1
2.0
1.5
2.0
1.9
1.3
1.3
1.6
1.1
1.4
1.3
1.3
3.7
2.3
1.6
3.3
2.8
3.3
1.6
1.7
2.0
1.9
1.1
1.4
1.5
1.1
1.4
1.3
3.6
2.0
1.9
3.2
2.7
3.3
1.3
1.8
1.9
1.7
0.9
1.5
1.4
1.1
1.5
1.4
3.3
1.7
2.6
2.8
2.7
2.7
1.3
2.0
1.9
1.6
1.1
1.5
1.3
1.2
1.4
1.4
2.9
1.6
2.9
2.6
3.0
2.2
1.4
2.0
1.9
1.3
1.2
1.5
1.1
1.4
1.4
1.4
3.4
1.9
2.3
2.9
2.8
2.8
1.4
1.9
1.9
1.6
1.1
1.5
1.3
1.2
1.4
1.4
1.4
1.7
2.3
2.5
2.4
2.7
2.4
1.8
2.1
2.8
2.7
1.4
1.6
1.8
1.9
2.2
1.4
1.7
2.3
2.5
2.4
2.7
2.5
1.7
2.1
2.9
2.8
1.3
1.7
1.8
1.9
2.2
1.4
1.7
2.6
2.4
2.4
2.8
2.3
1.7
2.2
2.9
2.7
1.2
1.8
1.8
2.0
2.1
1.4
1.8
2.6
2.4
2.4
2.8
2.3
1.7
2.2
2 .8
2.6
1.2
1.8
1.8
2.1
2.1
1.5
1.8
2.6
2.3
2.4
2.7
2.1
1.8
2.2
2.8
2.6
1.3
1.7
1.9
2.0
2.0
1.4
1.8
2.6
2.4
2.4
2.7
2.2
1.8
2.2
2.8
2.5
1.4
1.7
1.8
2.1
2.0
1.5
1.8
2.6
2.2
2.5
2.7
2.1
1.8
2.2
2.7
2.5
1.4
1.8
1.8
2.1
1.9
1.5
1.9
2.5
2.2
2.6
2.7
2.0
1.8
2.2
2.7
2.4
1.5
1.7
1.9
2.1
2.0
1.5
2.0
2.6
2.3
2.6
2.7
2.0
1.8
2.3
2.7
2.2
1.4
1.7
1.9
2.1
1.9
1.6
2.0
2.6
2.3
2.5
2.7
1.9
1.8
2.3
2.9
2.0
1.5
1.6
1.9
2.2
2.0
1.5
2.1
2.6
2.4
2.6
2.7
1.8
1.9
2.5
2.9
1.8
1.6
1.5
1.9
2.2
2.0
1.6
2.2
2.7
2.4
2.6
2.6
1.9
1.9
2.6
2.7
1.7
1.5
1.6
2.0
2.2
1.9
1.4
1.7
2.4
2.5
2.4
2.7
2.4
1.7
2.1
2.9
2.7
1.3
1.7
1.8
1.9
2.2
1.4
1.8
2.6
2.4
2.4
2.7
2.2
1.8
2.2
2.8
2.6
1.3
1.7
1.8
2.1
2.0
1.5
1.9
2.6
2.2
2.6
2.7
2.0
1.8
2.2
2 .7
2.4
1.4
1.7
1.9
2.1
1.9
1.6
2.1
2.6
2.4
2.6
2.7
1.9
1.9
2.5
2.8
1.8
1.5
1.6
1.9
2.2
2.0
1.5
1.9
2.6
2.3
2.5
2.7
2.1
1.8
2.3
2.8
2.4
1.4
1.7
1.8
2.1
2 .0
21. AVERAGE WEEKLY OVERTIME HOURS OF PRODUCTION WORKERS, MANUFACTURING 2
(HOURS)
AVERAGE FOR PERIOD
1949 . .
1951
..
1952 . . .
1953. . .
1954 . . .
1955. . .
1956. ..
1957. . .
1958. ..
1959...
1960. . .
1961. . .
1962. . .
1963. ..
1964...
1965. . .
1966. ..
1967. . .
1968. . .
1969. ..
1970.. .
1971. ..
1972...
1973. . .
1974. ..
1975...
1976...
1977. ..
1978. . .
1979. ..
1980. . .
3.1
2.8
1.8
2.5
3.0
2.1
2.8
2.7
2.9
2.6
1.8
2.6
2.8
2.1
2.7
2.8
2.7
2.6
1.7
2.8
2.7
2.1
2.8
2.8
2.8
2.5
1.7
2.8
2.4
2.2
2.9
2.6
2.7
2.3
1.8
2.9
2.5
2.3
2.9
2.8
2.6
2.4
1.9
2.9
2.4
2.3
2.9
2.9
2.6
2.4
1.9
2.8
2.4
2.4
2.8
2.9
2.5
2.2
2.1
2.8
2 .3
2.5
2.6
2.9
2.7
2.1
2.2
2.7
2.3
2.5
2.8
2.9
2.8
2.1
2.2
2.7
2.4
2.6
2.7
2.9
2.7
2.1
2.4
2.4
2.1
2.7
2.7
2.9
2.9
1.9
2.5
2.6
2.0
2.8
2.8
3.0
2.9
2.7
1.8
2.6
2.8
2.1
2.8
2.8
2.7
2.4
1.8
2.9
2.4
2.3
2.9
2.8
2.6
2.2
2.1
2.8
2.3
2.5
2.7
2.9
2.8
2.0
2.4
2.6
2.2
2.7
2.7
2.9
2.8
2.3
2.0
2.7
2.4
2.4
2.8
2.8
2.9
3.5
3.9
3.6
3.4
3.7
3.4
2.8
3.1
3.9
3.6
2.5
3.1
3.3
3.4
3.7
2.9
3.6
4.1
3.4
3.5
3.6
3.2
2.8
3.2
4.0
3.5
2.4
3.1
3.3
3.7
3.7
2.9
3.7
4.1
3.3
3.5
3.6
3.2
2.8
3.3
3.8
3.5
2.4
3.2
3.4
3.6
3.7
3.1
3.4
4.1
3.3
3.1
3.7
3.0
2.8
3.6
4.1
2.8
2.4
2.6
3.5
3.8
2 .9
3.1
3.6
4.0
3.3
3.6
3.6
3.0
2.9
3.4
3.9
3.5
2.3
3.3
3.5
3.5
3.4
3.1
3.6
3.9
3.2
3.6
3.6
3.1
2.9
3.5
3.8
3.4
2.5
3.2
3.5
3.5
3.3
3.1
3.6
4.0
3.3
3.6
3.6
3.0
2.9
3.4
3.8
3.4
2.6
3.2
3.5
3.6
3.3
3.3
3.5
3.9
3.4
3.5
3.6
2.9
2.9
3.5
3.7
3.3
2.8
3.1
3.5
3.5
3.3
3.2
3.5
3.9
3.5
3.6
3.6
2.7
2.9
3.5
3.8
3.2
2.8
3.2
3.5
3.6
3.2
3.1
3.7
3.9
3.4
3.7
3.5
2.7
2.9
3.6
3.8
3.2
2.8
3.1
3.5
3.6
3.2
3.1
3.8
3.8
3.3
3.8
3.5
2.6
2.9
3.7
3.9
2.8
2.9
3.2
3.6
3.7
3.3
3.4
3.8
3.6
3.4
3.7
3.5
2.7
3.0
3.7
3.7
2.7
3.0
3.2
3.5
3.7
3.2
2.9
3.6
4.0
3.4
3.5
3.6
3.3
2.8
3.2
3.9
3.5
2.4
3.1
3.3
3.6
3.7
3.1
3.5
4.0
3.3
3.4
3.6
3.0
2.9
3.5
3.9
3.2
2.4
3.0
3.5
3.6
3.2
3.2
3.5
3.9
3.4
3.6
3.6
2.9
2.9
3.5
3.8
3.3
2.7
3.2
3.5
3.6
3.3
3.2
3.8
3.8
3.4
3.7
3.5
2.7
2.9
3.7
3.8
2.9
2.9
3.2
3.5
3.7
3.2
3.1
3.6
3.9
3.4
3.6
3.6
3.0
2.9
3.5
3.8
3.3
2.6
3 .1
3.5
3.6
3.3
29. INDEX OF NEW PRIVATE HOUSING UNITS AUTHORIZED BY LOCAL BUILDING PERMITS3
(1967=100)
AVERAGE FOR PERIOD
1948. ..
1949. ..
1950. ..
1951...
1952...
1953...
1954...
1955. ..
1956. ..
1957. ..
1958...
1959. ..
1960. ..
1961.. .
1962.. .
1963...
109.4
80.4
157.4
146.3
99.6
104.9
101.9
136.4
109.8
86.5
91.5
114.7
102.7
91.2
105.5
113.0
100.4
81.9
159.2
114.8
115.3
110.7
100.4
151.0
106.8
90.9
78.7
119.6
102.3
90.4
112.3
109.7
104.0
86.8
159.1
104.5
105.5
111.6
105.8
129.3
109.8
91.7
87.2
125.0
89.8
94.0
106.7
113.9
116.5
96.6
161.9
96.9
103.5
106.2
106.9
132.9
109.5
86.7
91.9
119.4
95.6
94.2
116.2
116.6
106.7
104 .2
161.3
99.3
101.2
106.4
108.8
133.6
101.9
90.5
96.2
117.4
98.9
96.6
107.4
122.2
103.1
106.4
160.7
96.9
101.6
103.5
116.9
126.2
100.1
92.5
102.7
115.5
90.1
100.6
108.5
121.8
102.2
110.2
182.8
92.9
107.9
99.9
119.9
126.7
99.4
86.2
111.9
112.6
93.9
101.9
111.9
119.6
94.8
112.3
158.2
94.8
107.6
98.4
118.9
122.2
97.0
92.1
111.7
113.7
93.5
109.0
112.8
118.6
84.8
136.2
133.7
122.2
115.5
94.6
121.9
120.4
94.5
92.4
114.5
109.5
92.6
103.2
114.9
127.9
89 .4
135.6
126.2
93.2
116.8
99.6
126.2
117.9
93.1
91.1
118.2
105.3
91.4
105.6
111.1
128.1
86.2
141.9
123.6
90.9
117.2
100.1
135.9
107.5
93.7
88.5
134.1
100.7
92.1
108.3
116.2
122.9
82 .8
146.6
158.6
94.1
108.3
102.4
132.1
107.0
92.8
89.3
115.8
108.2
89.3
109.2
116.2
128.8
104.6
83.0
158.6
121.9
106.8
109.1
102.7
138.9
108.8
89.7
85.8
119.8
98.3
91.9
108.2
112.2
108.8
102.4
161.3
97.7
102.1
105.4
110.9
130.9
103.8
89.9
96.9
117.4
94.9
97.1
110.7
120.2
93.9
119.6
158.2
103.3
110.3
97.6
120.2
123.1
97.0
90.2
112.7
111.9
93.3
104.7
113.2
122.0
86.1
141.4
136.1
92.7
114.1
100.7
131.4
110.8
93.2
89.6
122.7
104.7
90.9
107.7
114.5
126.6
98.4
111.6
153.6
103.9
108.3
103.2
116.3
125.9
100.7
89.9
104.5
113.5
94.4
100.4
111.6
120.3
1964. . .
1965. ..
1966. ..
1967. ..
1968. ..
1969...
1970...
1971. ..
1972. ..
1973. ..
1974. ..
1975...
1976...
1977...
1978. ..
1979...
1980...
117.4
114.5
120.0
87.2
103.3
127.9
93.1
144.0
192.9
195.7
114.7
62.6
103.0
124.6
140.5
119.1
130.6
107.3
104.9
79.5
117.6
131.0
98.0
139.2
186.9
191.8
117.2
62.8
102.6
134.5
140.2
120.4
118.8
109.6
111.8
83.7
120.0
126.0
99.2
154.2
181.4
177.7
124.1
61.1
100.3
143.1
145.3
136.7
114.5
105.2
103.7
90.8
112.8
126.3
107.3
153.0
184.3
164.5
108.1
74.6
97.6
143.1
157.4
125.0
117.6
109.3
97.7
94.3
113.7
116.5
116.5
172.9
178.1
166.4
98.1
78.8
102.9
143.8
142.6
133.1
115.8
112.4
86.6
102.5
114.0
118.3
115.8
166.8
188.1
176.7
93.6
81.5
102.4
151.0
160.2
132.4
118.1
112.0
84.4
103.2
117.9
112.0
116.1
181.3
189.2
156.8
86.3
87.9
107.3
145.4
144.3
126.3
118.3
113.1
79.4
107.8
118.9
115.4
122.2
175.7
195.1
155.9
79.0
85.7
112.8
153.4
136.6
131.0
114.5
111.1
70.2
112.1
128.4
110.7
125.0
175.0
111.5
115.8
66.9
112.2
124.6
106.6
137.2
177.5
202.9
121.6
71.0
94.4
122.8
151.5
143.9
119.4
113.5
118.3
66.6
113.7
125.8
104.4
131.7
182.2
192.6
120.8
67.4
95.6
132.0
152.7
145.0
104.0
105.3
119.1
67.2
115.3
121.8
101.3
154.8
186.9
208.5
111.0
74.9
94.0
130.2
151.2
146.8
100.7
122.3
110.5
112.2
83.5
113.6
128.3
96.8
145.8
187.1
188.4
118.7
62.2
102.0
134.1
142.0
125.4
116.0
109.0
96.0
95.9
113.5
120.4
113.2
164.2
183.5
169.2
99.9
78.3
101.0
146.0
153.4
130.2
117.0
112.1
78.0
107.7
121.7
112.7
121.1
177.3
196.8
153.2
79.2
88.4
115.9
147.7
140.8
131.4
110.1
117.7
66.9
113.7
124.1
104.1
141.2
182.2
201.3
117.8
71.1
94.7
128.3
151.8
145.2
108.0
116.3
112.3
88.3
100.2
118.2
116.4
118.1
167.4
192.2
157.1
92.2
80.9
111.8
144.9
145.4
123.8
206.2
146.8
72.4
91.7
127.6
144.3
141.4
136.9
(AUGUST 1980)
C. Historical Data for Selected Series—Continued
Monthly
Year
24.
Jan.
Feb.
Mar.
Apr.
May
June
Quarterly
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
VALUE OF MANUFACTURERS' NEW ORDERS , CAPITAL GOODS I N D U S T R I E S , N O N D E F E N S E , IN CURRENT DOLLARS
( BILLIONS OF DOLLARS)
II Q
III Q
IV Q
Annual
TOTAL FOR PERIOD
1948. . .
1949. ..
1950. . .
1951...
1952. . .
1953. . .
1954. ..
1955. . .
1956. . .
1957...
1958...
1959. ..
1960. ..
1961. . .
1962. ..
1963. ..
1.28
1.13
1.32
3.06
2.18
2.57
1.78
2.09
2.72
2.96
2.28
2.62
2.73
2.74
3.06
3.21
1.43
1.22
1.42
3.09
2.25
2.43
1.86
2.29
2.55
2.96
2.16
2.70
2.83
2.76
3.27
3.29
1.45
1.21
1.43
2.92
2.30
2.29
1.56
2.62
2.68
2.83
2.21
3.06
2.78
2.76
2.92
3.34
1.62
1.02
1.49
2.88
2.22
2.41
1.65
2.30
2.82
2.61
2.25
2.79
2.90
2.73
3.20
3.35
1.31
1.08
1.88
2.74
2.04
2.30
1.61
2.31
2.99
2.63
2.26
2.92
2.89
2.66
3.02
3.49
1.57
1.13
1.81
2.56
2.23
1.90
1.65
2.47
3.02
2.53
2.28
3.00
2.87
2.81
2.97
3.33
1.38
1.06
2.22
2.46
2.36
2.09
1.75
2.43
2.77
2.52
2.29
3.03
2.78
2.94
3.00
3.36
1.36
1.13
2.81
2.35
2.07
1.84
1.74
2.59
2.84
2.56
2.46
2.79
2.78
3.08
2.99
3.47
1.38
1.26
2.64
2.11
2.20
1.88
1.94
2.57
2.84
2.42
2.56
3.04
2.75
2.91
3.06
3.53
1.39
1.19
2.40
2.40
2.19
1.80
1.93
2.64
2.88
2.36
2.48
2.93
2.69
2.94
3.11
3.54
1.40
1.25
2.37
2.38
1.97
1.78
1.83
2.77
3. 21
2. 33
2.58
2.74
2.60
3.04
3.34
3.45
1.43
1.20
2.68
2.37
2.19
1.76
1.95
2.87
3.07
2.16
2.47
2.96
2.86
2.88
3.15
3.61
4.16
3.56
4.17
9.07
6.73
7.29
5.20
7.00
7.95
8.75
6.65
8.38
8.34
8.26
9.25
9.84
4.50
3.23
5.18
8.18
6.49
6.61
4.91
7.08
8.83
7.77
6.79
8.71
8.66
8.20
9.19
10.17
4.12
3.45
7.67
6.92
6.63
5.81
5.43
7.59
8.45
7.50
7.31
8.86
8.31
8.93
9.05
10.36
4.22
3.64
7.45
7.15
6.35
5.34
5.71
8.28
9.16
6.85
7.53
8.63
8.15
8.86
9.60
10.60
17.00
13.88
24.47
31.32
26.20
25.05
21.25
29.95
34.39
30.87
28.28
34.58
33.46
34.25
37.09
40.97
1964. . .
1965...
1966...
1967. . .
1968...
1969. . .
1970. . .
1971. ..
1972...
1973. . .
1974. . .
1975. . .
1976. . .
1977. . .
1978. . .
1979. . .
1980. . .
3.94
4.13
4.79
4.43
4.96
6.91
7.22
6.85
7.44
9.60
12.38
11.74
11.03
14.24
16.07
21.23
3.52
4.06
5.25
4.69
6.97
8.16
7.18
7.41
8.21
10.19
12.71
10.66
11.30
13.88
16.99
22.48
3.77
4.40
5.17
4.73
8.64
7.58
6,86
7.45
8.57
10.57
13.10
10.20
11.81
14.01
16.84
23.60
3.72
4.34
5.33
4.78
7.49
9.01
6.34
7.27
8.34
10.88
12.69
10.86
11.92
14.31
17.24
20.60
4.12
4.23
5.37
4.88
6.15
7.66
6.84
7.26
9.31
11.10
12.68
10.52
12.17
14.84
17.68
21.13
4.23
4.38
5.31
5.03
6.08
7.61
6.41
8.26
8.15
10.70
12.53
10.23
12.36
15.53
17.66
21.70
3.90
4.46
5.57
5.13
7.14
7.50
6.71
6.70
9.00
11.03
14.19
11.00
13.17
14.49
18.05
21.23
3.94
4.34
5.20
5.24
6.79
7.54
6.42
7.21
8.46
10.88
13.47
10.77
12.52
14.70
18.57
21.08
3.92
4.50
5.46
4.99
6.47
8.59
6.66
8.08
9.56
11.24
13.42
10.74
13.10
16.10
19.69
21.58
4.01
4.63
5.36
5.04
7.84
7.42
6.32
7.40
9.20
12.19
12.04
10.76
13.59
15.86
21.12
21.07
4.06
4.72
5.15
5.12
6.86
7.69
6.84
7.87
9.53
12.39
11.85
11.28
13.01
16.24
20.92
21.75
4.15
5.05
5.19
5.40
7.38
7.26
7.55
8. 29
9.77
12. 22
11.66
10.52
13.76
16.78
18.76
22. 28
11.23
12.59
15.21
13.85
20.57
22.65
21.26
21.71
24.22
30.36
38.19
32.60
34.14
42.13
49.90
67.31
12.07
12.95
16.01
14.69
19.72
24.28
19.59
22.79
25.80
32.68
37.90
31.61
36.45
44.68
52.58
63.43
11.76
13.30
16.23
15.36
20.40
23.63
19.79
21.99
27.02
33.15
41.08
32.51
38.79
45.29
56.31
63.89
12.22
14.40
15.70
15.56
22.08
22.37
20.71
23.56
28.50
36.80
35.55
32.56
40.36
48.88
60.80
65.10
47.28
53.24
63.15
59.46
82.77
92.93
81.35
90.05
105.54
132.99
152.72
129.28
149.74
180.98
219.59
259.73
25.
CHANGE IN MANUFACTURERS' U N F I L L E D O R D E R S , DURABLE GOODS INDUSTRIES
(BILLIONS OF DOLLARS )
1948. ..
1949. . .
1950. . .
1951. . .
1952. ..
1953. . .
1954. . .
1955...
1956. . .
1957...
1958...
1959. ..
1960. . .
1961. ..
1962. . .
1963. . .
-0.33
-0.99
0.58
5.41
0.59
1.73
-2.46
0.78
1.31
-0.25
-2.39
0.74
-1.55
-0.34
0.42
0.89
-0.30
-0.85
0.36
3.72
-0.01
0.42
-1.69
0.62
0.23
-0.02
-1.16
1.41
-0.89
0.14
0.59
1.14
-0.14
-0.96
0.41
3.91
1.97
-0.80
-2.49
1.19
0.41
-0.87
-0.50
0.90
-1.25
-0.30
-0.46
1.40
0.01
-1.30
0.46
3.31
2.18
-0.52
-1.83
0.36
1.22
-0.86
-0.84
0.52
-1.07
0.21
-0.77
0.54
-0.34
-1.10
0.43
2.42
0.21
-0.09
-1.79
0.34
0.55
-0.64
-0.34
-0.42
-0.64
0.15
-0.42
0.82
1964. . .
1965...
1966...
1967. . .
1968. . .
1969. . .
1970. . .
1971...
1972. . .
1973. . .
1974...
1975. . .
1976...
1977. . .
1978. . .
1979...
1980. ..
1.31
1.01
1.93
0.08
-0.36
0.19
-0.77
1.18
0.31
2.66
3.99
-2.64
-1.35
1.14
2.23
5.91
0.70
1.12
1.75
0.21
0.25
0.68
-1.03
0.86
0.65
3.05
3.79
-2.77
-0.53
0.37
2.73
7.10
0.82
0.84
2.39
-0.40
1.57
0.73
-0.84
-0.04
0.42
4.22
2.97
-3.37
0.91
0.40
4.06
5.89
0.86
0.95
1.84
0.14
0.35
2.34
-1.35
-0.52
0.32
3.56
3.07
-2.53
0.50
1.37
3.45
4.73
1.12
0.84
1.43
1.02
-0.41
0.91
-0.89
-1.31
1.00
3.51
4.90
-1.97
-0.10
1.35
4.00
1.52
27.
AVERAGE FOR PERIOD
-0.53
-1.67
0.56
0.26
-1.25
0.20
0.24
-0.23
0.14
-0.16
-0.20
0.36
-0.88
2.33
2.25
1.80
-2.18
-1.19
0.81
1.48
-1.73
0.11
-0.07
-0.45
0.36
0.02
0.02
0.21
-0.41
3.91
0.97
0.65
-2.25
-1.00
0.65
1.90
-1.70
-0.02
0.11
0.41
0.40
-0.43
0.14
-0.27
-0.30
2.18
0.80
0.85
-3.49
0.30
1.18
0.12
-1.41
-0.26
1.16
0.31
0.15
0. 58
0.57
-0.44
0.34
1.97
1.32
-0.56
-2.54
1. 31
1.47
-0.16
-1.91
0.12
0.82
-0.81
0.07
0.54
0.10
-0.61
0.43
1.12
0.81
-0.65
-1.85
-0.82
1.16
0.25
-1.45
0.78
-0.04
-0.38
0.32
0.12
0.22
-0.86
0. 26
1. 29
0.45
-0.48
-1.94
-0.06
1.87
0.07
-1.44
-0.07
-0.55
-0. 32
0.57
1.58
-0.32
-0.26
-0.93
0.45
4.35
0.85
0.45
-2.21
0.86
0.65
-0.38
-1.35
1.02
-1.23
-0.17
0.18
1.14
0.13
-1.21
0.55
2.78
1.70
-0.38
-1.76
0.42
0.68
-0.92
-0.33
0.11
-0.65
0.17
-0.45
0.39
0.10
-0.53
2.81
1.34
1.10
-2.64
-0.63
0.88
1.17
-1.61
-0.06
0.40
0.09
0.30
0.06
0.24
-0.64
0.34
1.46
0.86
-0.56
-2.11
0.14
1.50
0.05
-1.60
0.28
0.08
-0.50
0.32
0.75
0.
-0.16
-0.58
1.32
2.33
0.77
-1.17
-1.12
0.92
0.64
-1.13
-0.36
0.40
-0.57
0.16
0.13
0.44
1.23
0.88
2.17
1.54
-0.11
-0.04
-0.86
-1.37
1.05
2.98
3.70
-2.42
0.53
1.53
2.79
3.23
1.56
0.78
1.75
0.67
-1.17
0.
-1.05
-0.76
0.53
1.82
3.86
-0.34
1.06
0.04
1.94
0.71
0.60
0.71
1.09
0.39
0.70
-0.32
-1.43
-0.05
0.63
2.80
5.44
-1.02
-0.93
1.43
3.15
0.40
1.11
1.38
2.30
0.28
1.12
0.74
-0.70
0.79
2.48
2.92
2.61
-0.98
0.17
1.52
3.95
3.45
1.24
1.36
0.82
1.02
1.55
-0.07
-1.14
0.33
1.15
3.49
-1.15
-1.70
1.13
2.96
6.32
0.98
0.86
1.30
0.45
0.45
0.41
0.03
-0.24
0.84
1.48
4.06
-0.90
-0.14
0.97
2.97
5.71
2.15
1.02
1.46
0.37
1.09
0.98
-0.15
0.66
0.48
2.30
2.96
-2. 34
-0.85
1.88
4.12
3.80
3.01
0.94
0.99
2.02
-0.04
0.49
0.53
-0.88
0.67
0.46
3.31
3.58
-2.93
-0.32
0.64
3.01
6.30
1.07
0.89
1.81
0.90
-0.06
1.07
-1.03
-1.07
0.79
3.35
3.89
-2.31
0.31
1.42
3.41
3.16
1.09
0.96
1.71
0.45
0.22
0.14
-1.06
-0.01
1.21
2.51
3.97
-0.78
0.10
1.00
3.01
1.52
1.04
1.37
0.55
0.85
0.98
-0.06
-0.24
0.55
1.64
3.50
-1.46
-0.90
1.33
3.35
5.28
2.05
1.04
1.05
1.52
0.54
0.41
0.42
-0.80
0.04
1.03
3.17
2.50
-1.73
0.35
1.60
3.63
3.26
0.73
-1.24
0.77
2.60
2.72
VALUE OF MANUFACTURERS' NEW ORDERS, CAPITAL GOODS INDUSTRIES, NONDEFENSE,
( B I L L I O N S OF DOLLARS )
IN 1972 DOLLARS
TOTAL FOR PERIOD
1948. . .
1949. . .
1950...
1951. . .
1952. . .
1953. ..
1954. . .
1955. . .
1956. . .
1957. . .
1958. . .
1959. . .
1960. ..
1961. ..
1962...
1963...
3.19
2.56
3.04
6.08
4.30
5.07
3.38
3.94
4.82
4.80
3.56
4.05
4.12
4.14
4.63
4.85
3.57
2.77
3.27
6.13
4.43
4.79
3.53
4.31
4.48
4.77
3.37
4.17
4.26
4.16
4.95
4.99
3.58
2.74
3.27
5.78
4.51
4.50
2.95
4.90
4.70
4.54
3.45
4.71
4.20
4.16
4.41
5.07
3.98
2.30
3.40
5.68
4.36
4.70
3.11
4.30
4.88
4.18
3.49
4.28
4.36
4.13
4.82
5.08
3.22
2.45
4.29
5.40
4.00
4.45
3.05
4.32
5.12
4.20
3.51
4.47
4.36
4.03
4.55
5.28
3.82
2.58
4.11
5.04
4.40
3.64
3.12
4.59
5.15
4.04
3.54
4.56
4.34
4.25
4.49
5.02
3.32
2.41
4.97
4.84
4.66
3.99
3.32
4.49
4.73
4.01
3.56
4.58
4.20
4.45
4.53
5.06
3.19
2.58
6.15
4.64
4.08
3.51
3.30
4.74
4.80
4.05
3.82
4.22
4.20
4.67
4.52
5.23
3.19
2.89
5.69
4.15
4.34
3. 58
3.69
4.63
4.73
3.80
3.99
4.59
4.16
4.41
4.63
5.31
3.18
2.74
5.07
4.72
4.34
3.42
3.67
4.74
4.76
3.69
3.86
4.43
4.07
4.45
4.69
5.33
3. 20
2.88
4.96
4.68
3.89
3.38
3.47
4.94
5.25
3.64
4.00
4.14
3.94
4.60
5.05
5.19
3. 24
2.77
5.41
4.66
4.32
3.33
3.69
5.09
5.00
3.38
3.82
4.47
4.34
4.37
4.76
5.41
10. 34
8. 07
9.58
17.99
13.24
14.36
9.86
13.15
14.00
14.11
10.38
12.93
12.58
12.46
13.99
14.91
11 . 02
7.33
11.80
16.12
12 .76
12.79
9.28
13.21
15.15
12.42
10.54
13.31
13.06
12.41
13.86
15.38
9.70
7.88
16.81
13.63
13.08
11.08
10.31
13.86
14.26
11.86
11.37
13.39
12.56
13.53
13.68
15.60
9.62
8.39
15.44
14.06
12.55
10.13
10.83
14.77
15.01
10.71
11.68
13.04
12,35
13.42
14.50
15.93
40.68
31.67
53.63
61.80
51.63
48.36
40.28
54.99
58.42
49.10
43.97
52.67
50.55
51.82
56.03
61.82
1964. . .
1965...
1966. . .
1967. . .
1968. ..
1969...
1970. ..
1971...
1972...
1973. . .
1974. ..
1975. . .
1976. . .
1977. ..
1978...
1979. . .
1980. . .
5.93
6.15
7.04
6.21
5.75
7.78
7.80
7.09
7.54
9.49
11.56
8.96
8.08
9.82
10.30
12.72
5.28
6.04
7.68
6.56
8.07
9.18
7.72
7.62
8.30
10.03
11.78
8.12
8.31
9.53
10.84
13.56
5.66
6.55
7.54
6.61
9.98
8.50
7.37
7.59
8.65
10.34
11.88
7.74
8.44
9.60
10.79
14.60
5.56
6.46
7.74
6.68
8.61
10.07
6.77
7.45
8.40
10.52
11.46
8.17
8.74
9.82
10.98
12.24
6.17
6.28
7.76
6.81
7.04
8.56
7.27
7,42
9.36
10.74
11.19
7.94
8.73
10.12
11.20
12.34
6.34
6.48
7.64
7.01
6.95
8.47
6.81
8.44
8.16
10.37
10.82
7.69
8.77
10.45
11.13
12.78
5.83
6.60
7.99
7.14
8.14
8.31
7.06
6.85
9.00
10.67
11.98
8.19
9.36
9.69
11.27
12.20
5.89
6.42
7.44
7.28
7.73
8.33
6.76
7.30
8.44
10.54
11.15
8.06
8.90
9.88
11.48
12.00
5.86
6.64
7.79
6.93
7.34
9.41
6.99
8.22
9.48
10.86
10.91
8.00
9.18
10.58
12.09
12.21
6.00
6.84
7.60
6.98
8.88
8.13
6.58
7.52
9.15
11.68
9.66
7.92
9.51
10.48
12.86
12.01
6.06
6.96
7.27
7.06
7.74
8.40
7.10
8.00
9.43
11.83
9.35
8.23
9.04
10.58
12.74
12.73
6. 20
7.44
7. 30
7.41
8.33
7.86
7.81
8.42
9.60
11.56
9.07
7.71
9.57
10.86
11.28
12.81
16.87
18.74
22.26
19.38
23.80
25.46
22.89
22.30
24.49
29.86
35.22
24.82
24.83
28.95
31.93
40.88
18.07
19.22
23.14
20.50
22.60
27.10
20.85
23.31
25.92
31.63
33.47
23.80
26.24
30.39
33.31
37.36
17.58
19.66
23.22
21.35
23.21
26.05
20.81
22.37
26.92
32.07
34.04
24.25
27.44
30.15
34.84
36.41
18.26
21.24
22.17
21.45
24.95
24.39
21.49
23.94
28.18
35.07
28.08
23.86
28.12
31.92
36.88
37.55
70.78
78.86
90.79
82.68
94.56
103.00
86.04
91.92
105.51
128.63
130.81
96.73
106.63
121.41
136.96
152.20
NOTE: These series contain revisions beginning with 1977.
(AUGUST 1980)
99
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
II Q
-1.29
3.89
24.56
11.83
5.45
-16.61
-8.94
6.31
10.81
-4.94
6.27
10.52
-0.58
8.46
7.04
5.34
-6.71
-9.02
15.49
11.70
6.97
-20.28
0.91
10.10
1.03
-13.62
8.25
9.00
-9.65
10.93
4.36
6.11
-3.10
14.57
23.61
8.11
-3.20
-9.97
7.91
7.33
-6.14
-2.46
11.60
-5.75
5.23
5.62
7.45
17.06
9.35
17.37
13.92
4.77
12.77
1.11
-0.09
18.24
21.92
-9.42
-0.95
5.01
17.68
15.92
1.92
14.92
13.58
15.90
14.38
14.83
3.14
3.57
5.32
17.61
28.83
-15.82
-5.10
3.03
13.29
17.29
-8.83
13.77
12.56
20.45
11.18
7.80
10.04
0.82
2.97
12.87
26.84
-0.39
-17.85
7.66
14,03
19.24
6.97
1
36. NET CHANGE IN INVENTORIES ON HAND AND ON ORDER IN 1972 DOLLARS, MONTHLY DATA
(ANNUAL RATE, BILLIONS OF 'DOLLARS)
1948. ..
1949. . .
1950...
1951. ..
1952. . .
1953...
1954. . .
1955...
1956...
1957. . .
1958. . .
1959...
1960. ..
1961. . .
1962. . .
1963. . .
1964. . .
1965. ..
1966. . .
1967. . .
1968. . .
1969. . .
1970. . .
1971. . .
1972. . .
1973. ..
1974...
1975. . .
1976. ..
1977. . .
1978. . .
1979. ..
1980. . .
9.18
5.54
53.60
7.80
50.21
-20.14
2.65
11.89
-2.63
-23.77
11.70
-6.28
-10.28
16.98
7.66
4.20
-4.38
7.80
36.43
14.90
-0.35
-19.33
16.00
-0.10
-5.78
-13.42
17.70
-11.09
-3.71
6.40
16.03
0.78
-8.40
5.58
33.58
11.32
10.75
-15.66
-2.88
16.40
1.40
-11.84
18.00
-17.22
6.35
-12.50
9.13
0.10
-3.71
19.52
32.26
2.04
4.81
-12.90
8.94
7.32
-3.01
-5.30
-0.48
-2.16
10.86
6.52
6.16
11.62
-10.34
13.80
22.37
26.11
1.91
-15.31
15.84
5.24
-5.02
1.00
3.76
-3.62
4.93
3.91
0.92
10.00
0.49
10.48
19.36
6.52
-11.06
-15.22
9.92
17.05
-9.64
4.62
14.54
1.55
8.39
6.92
2.82
-9.19
1.78
44.28
12.46
-3.31
-18.29
-13.69
7.93
10.50
-3.47
0.40
6.89
-5.58
8.17
3.98
6.07
-4.69
9.41
18.91
3.66
13.13
-20.47
2.10
1.08
4.87
-1.70
13.80
10.12
2.30
8.81
10.22
7.14
-4.93
-6.37
16.63
11.41
10.04
-23.26
2.30
14.03
-1.03
-24.02
4.52
12.31
-8.93
3.54
9.52
11.54
-4.84
-7.82
19.75
11.46
3.38
-21.53
0.18
5.36
4.10
-10.60
7.45
2.68
-1.70
16.07
-3.29
7.64
-10.37
-12.86
10.10
12.24
7.49
-16.04
0.24
10.91
0.01
-6.24
12.77
12.00
-18.31
13. 19
6.85
-0.86
0.22
5.26
41.49
6.86
18.26
-17.23
7.93
7.85
-3.79
-19.00
19.81
-5.13
-5.84
11.75
12.93
4.17
-7.48
12.97
29.40
13.16
5.82
-14.62
7.30
9.65
-2.21
-5.38
7.09
-7.67
7.38
-0.69
5.40
13.78
21.88
17.48
28.27
2.26
7.99
-8.44
17.78
9.46
34.46
16.62
-40.87
7.79
14.66
21.07
28.12
8.40
15.37
26.17
7.36
5.98
15.11
0.23
12.49
8.62
29.64
12.42
-47.14
9.10
12.58
13.75
14.56
10.62
16.09
29.27
3.28
3.56
11.60
-0.80
8.59
1.57
30.96
12.70
-34.94
11.75
14.00
35.22
13.64
11.89
3.46
20.09
8.87
8.40
12.64
6.85
-2.83
4.69
20.10
-4.10
-25.49
11.02
15.06
28.69
28.62
9.83
13.04
25.13
-0.64
10.43
10.72
-7.39
-5.51
11.98
27.31
15.58
-27.70
9.37
8.70
18.05
-1.31
14.78
12. 10
27.41
2.09
4.15
14.76
5.36
-10.64
10.52
27.32
17.80
-19.98
18.76
10.48
14.51
20.72
11.44
15.40
20.98
16.74
-9.48
15.40
1.31
-8.15
4.33
21.83
-7.18
-1.14
5.56
10.28
14.94
24.47
10.49
8.02
16.91
18.70
10.00
7.73
5.09
1.42
24.78
18.16
-15.88
6.07
-3.68
23.26
18.77
2.46
29.26
4.64
14.22
6.31
13.79
15.18
-3.06
6.47
25.62
25.78
-5.21
-7.78
13.14
19.50
14.06
-21.16
6.66
8.64
22.07
2.54
15.80
8. 59
-5.10
6.10
16.78
25.50
-7.21
2.95
-0.18
2.83
14.46
-4.33
19.20
12.71
13.49
17.02
13.27
-2.28
7.70
3.91
17.99
28.54
-20.16
-9.13
3.16
19.80
18.32
-8.72
18.89
19.38
12. 13
23.58
15.43
3.10
8.11
5.96
18.06
32.44
-20.08
-9.11
6.12
17.23
19.09
-13.45
10.93
17.78
24.31
12.97
3.93
11.57
-3.00
12.95
6.55
31.69
13.91
-40.98
9.55
13.75
23.35
18.77
12.17
9.53
24.21
3.44
7.66
12.71
1.61
-6.33
9.06
24.91
9.76
-24.39
13.05
11.41
20.42
16.01
1948
1949. . .
1950. ..
1951.. .
1952. ..
1953. . .
1954...
1955. . .
1956. . .
1957. ..
1958. . .
1959. . .
1960...
1961. ..
1962. . .
1963. . .
1964. ..
1965. ..
1966...
1967. . .
1968. ..
1969. . .
1970. . .
1971...
1972. . .
1973. . .
1974. . .
1975. . .
1976. . .
1977. . .
1978...
1979. . .
1980. . .
NET CHANGE IN INVENTORIES ON HAND AND ON ORDER IN 1972 DOLLARS, SMOOTHED DATA 1
( A N N U A L RATE, B I L L I O N S OF DOLLARS)
-4.36
-7.03
21.65
11.10
13.66
-19.76
0.96
9.74
0.76
-13.58
9.44
5.90
-9.87
13.17
4.05
-1.89
-3.33
30.27
8.24
20.61
-17.68
1.85
10.45
-0.68
-15.07
14.40
2.68
-10.40
14.71
6.81
-0.78
1.82
37.10
6.42
19.56
-16.68
5.30
9.68
-2.82
-17.80
18.99
-1.28
-8.27
12.88
11.40
-2.71
5.27
38.16
7.45
11.68
-16.48
7.01
8.60
-3.12
-17.01
20.86
-6.95
-3.07
6.84
13.18
1.60
-5.57
8.12
34.45
8.73
5.09
-15.85
6.72
8.61
-2.45
-12.60
16.83
-9.47
2.10
1.03
11.93
6.48
17.45
15.05
16.93
14.33
13.53
0.30
7.38
5.88
20.56
27.35
-21.43
-4.29
5.51
16.33
19.57
6.98
19.35
18.77
16.94
12.45
12.54
-2.12
11.99
7.23
25.44
23.18
-31.53
-0.44
9.55
18.36
21.22
9.02
18.25
22.66
14.44
7.27
12.20
-2.35
12.87
7.28
29.54
17.20
-38.51
6.07
12.43
20.35
19.68
10.62
14.71
24.74
9.74
4.96
12.34
-0.45
9.52
5.75
29.29
10.46
-38.42
10.08
13.81
24 .62
18.86
10.54
11.25
25.00
5.17
6.72
12.38
0.82
3.08
5.52
26.51
7.53
-32.62
10.67
13.23
26 .60
16.29
45.
1948. . .
1949. . .
1950. . .
1951...
1952. . .
1953. . .
1954. . .
1955. . .
1956. . .
1957. ..
1958. ..
1959. . .
19 60 ...
196l!.'.'
1962...
19 63 ...
1964. . .
1965...
1966. . .
1967. . .
1968. . .
1969. . .
1970. ..
1971. . .
1972...
1973...
1974. . .
1975. ..
1976. ..
1977. . .
1978. . .
1979...
1980. . .
4. 2
6.2
2.9
3.2
2.6
4.4
4.2
3.2
3.5
5.5
4.9
4.3
4.7
6.0
2.7
3.1
2.5
4.7
4.1
3.3
3.5
6.0
4.7
4 .2
4.7
4. 7
4.5
4.6
4.0
3.3
2.6
2.4
2.4
2.2
2.6
3.9
3.6
2.8
3.1
5'. 5
4.5
4.2
3.5
3.0
3.9
3.3
2.6
2.5
2.3
2.2
2.7
3.9
3.6
2.8
3.2
5.9
4.3
4.1
3.6
3.0
e'.2
e!3
100
IV Q
2
AVERAGE FOR PERIOD
2.93
-6.49
11.97
31.75
11.29
5.45
-15.29
7.33
8.76
-2.34
-7.78
9.42
-8.91
5.94
-0.27
7.92
5.70
-6.00
13.78
27.03
12.36
2.19
-14.55
9.43
9.76
-4.05
-2.64
6.52
-4.54
7.72
2.55
4.35
5.69
-3.60
18.73
21.36
10.66
-5.30
-14.61
11.40
10.40
-5.97
1.06
7.17
-1.98
7.61
5.36
3.28
1.43
0.60
23.70
14.94
7.61
-12.88
-11.84
8.77
10.87
-5.49
4.14
9.46
-1.56
7.81
5.99
4.31
-3.78
2.75
25.58
10.50
6.03
-18.64
-6.02
6.99
7.79
-7.33
6.26
10.14
-2.32
7.65
7.47
6.80
-5.54
0.01
22.52
9.01
7.73
-21.21
-0.79
7.25
3.71
-10.92
7.41
9.07
-3.42
8.16
6.69
8.51
-5 . 7 7
-5.30
16.96
10.27
7.91
-21.01
1. 22
8.46
1.84
-12.86
8.42
8.68
-6.21
10.20
4.92
7.44
-2.' 3 4
-2.85
29.67
8.59
17.94
-18.04
2.70
9.96
-0.91
-15.48
14.28
2.43
-9.51
13.59
7.42
-4.92
8.45
34.79
9.16
7.41
-15.87
7.02
8.66
-2.64
-12.46
15.70
-8.44
1.66
2.53
11.01
4.27
- 3 ". 0 0
18.74
21.11
10.21
-5.33
-13.67
9.87
10.34
-5.17
0.85
7.72
-2.69
7.71
4.63
3.98
-5.03
-0.85
21.69
9.93
7.22
-20.29
-1.86
7.57
4.45
-10.37
7.36
9.30
-3.98
8.67
6.36
7.58
-2.78
11.51
23.87
8.79
-0.07
-12.36
6.79
8.35
-4.77
-4.93
11.75
-3.17
2.13
6.78
7.50
11.47
10.20
24.52
3.64
7.56
12.18
0.58
-3.12
7.57
25.52
8.91
-26.88
11.88
12.00
23. 87
14.83
12.09
11.52
24.36
4.75
4.68
13.17
0.68
-7.21
9.00
25.20
9.25
-20.33
12.14
10.62
18.12
15.32
12. 13
12.68
23.14
9.29
1.63
13.13
1.84
-6.94
11.08
23.96
3.49
-10.64
9.05
12.25
15.95
15.25
14.65
10.60
19.57
13.21
3.16
12.70
2.52
-2.94
15.73
22.18
-5.59
-2.98
5.94
16.18
16.00
8.90
16.27
8.23
17.55
11.55
8.98
11.63
0.04
2.29
20.32
22.53
-9.43
-0.27
4.05
16.44
15.84
-2.88
16.92
7.88
17.16
8.90
13.74
8.83
-0.59
5.08
21.26
24.88
-10.15
-2.12
4.23
14.62
15.69
-9.54
16.64
11.12
16.24
11. 50
14.56
5.15
1.71
5.41
18.87
27.72
-13.34
-4.87
4.20
13. 66
16.45
-10.12
7.49
18.35
18.83
16.10
11.35
12.76
-1.39
10.75
6.80
25.18
22.58
-30.49
0.45
9.16
18.35
20.16
10.88
12.05
24.75
6.18
6.41
12.30
0.32
3.16
6.28
27.11
8.97
-32.64
10.88
13.01
25.03
16.66
12.96
11.60
22.36
9.08
3.16
13.00
1.68
-5.70
11.94
23.78
2.38
-11.32
9.04
13 .02
16.69
13.16
16.61
9.08
16.98
10.65
12.43
8.54
0.39
4.26
20.15
25.04
-10.97
-2.42
4.16
14.91
15.99
-7.51
11.98
12.77
20.73
10.50
8.34
11.65
0.25
3.12
11.29
25.28
5.74
-19.22
6.13
12.52
19.02
10.62
AVERAGE W E E K L Y INSURED UNEMPLOYMENT RATE, STATE PROGRAMS 3
(PERCENT)
AVERAGE FOR PERIOD
7.3
3.4
3. 3
2.4
3.8
5.0
3.1
3.4
4.8
5.6
5.5
6.6
3.3
3.2
2. 5
4.1
4.5
3.2
3.4
5.3
5.3
4.8
4.7
6.0
2.7
3.1
2.5
4.7
4.0
3.3
3.5
6.0
4.6
5.8
5.0
2.8
3.0
2.4
5.4
3.4
3.3
3.3
7.0
3.7
5.1
4.4
7.5
3.3
3.4
2.5
3.2
5.6
3.1
3.3
4.3
6.0
4.8
5. 7
5.0
4.5
5. 1
4.6
4.8
4.7
6.3
4.5
5.6
3.9
3.4
2.9
2.1
2.3
2.0
2.0
3.8
4.1
3.3
2.6
3.5
5.7
4.6
3.8
3.2
2.9
3.4
2.7
2.0
2.3
2.0
2.1
4.1
4.0
3.1
2.6
3.7
5.5
4.6
3.7
3.0
2.9
3.4
2.6
2.1
2.3
2.0
2. 2
4.2
3.9
3.1
2.7
4.3
5.1
4.5
3.7
3.0
3.1
3.4
2.6
2.3
2.4
2.1
2.4
4.1
3.8
3.1
2.8
5.0
4.7
4.3
3.6
3.0
3.1
3.9
3.3
2.5
2.5
2.3
2.2
2.7
3.9
3.6
2.8
3.2
5.9
4.4
4.1
3.5
3.0
3.8
3.0
2.1
2.6
2.2
2.0
3.4
4.0
3.5
2.6
3.2
6.7
4.4
3.9
3.2
2.9
5.2
5.8
2.5
3.1
2.5
5.0
3.8
3.3
3.4
6.6
4.3
4.5
6.3
4.4
5.4
5.4
2.6
3.0
2.5
5.3
3.6
3.2
3.3
7.1
4.0
4 3
5.9
3.9
4 .2
5.8
5.0
2.8
3.0
2.4
5.5
3.4
3.3
3.3
7.0
3.6
6.2
4.7
2.9
3.0
2.4
5.5
3.3
3.4
3.4
6.9
3.5
6.4
4.3
3.0
3.6
2.5
5.3
3.3
3.5
3.5
6.7
3.7
7.2
3.7
3.2
3.3
2.7
5.4
3.3
3.5
3.5
6.7
4.1
7.4
3.5
3.4
2.6
2.9
5.6
3.2
3.5
3.9
6.2
4.2
5.6
3.8
5.3
4.0
5.3
4.2
5.2
4.4
3.9
3.2
2.3
2.6
2.3
2.1
2.8
4.0
3.6
2.7
3.2
6.4
4.3
4.0
3.5
3.0
3.8
3,1
2.1
2.7
2.2
2.0
3.2
4.0
3.5
2.6
3.2
6.7
4.3
3.9
3.2
2.9
3.8
3.0
2.1
2.6
2.2
2.0
3.5
4.0
3.5
2.6
3.2
6.8
4.4
3.9
3.2
2.8
3.7
2.9
2.2
2.5
2.1
2.0
3.5
4.0
3.5
2.6
3.2
6.5
4.5
3.9
3.2
2.9
3.6
3.0
2.4
2.6
2.1
2.1
3.5
3.9
3.6
2.6
3.2
6.1
4.5
3.8
3.3
2.9
3.5
3.0
2.4
2.4
2.1
2.0
3.6
4.1
3.3
2.7
3.3
5.8
4.5
3.8
3.3
2.9
]
This series contains revisions beginning with 1977. 2 This series is a weighted 4-term moving average (with weights 1,2,2,1) placed
at the terminal month of the span. 3 This series contains revisions beginning with 1963.
III Q
AVERAGE FOR PERIOD
-0.44
-4.15
2.45
34.45
-2.11
4.91
-12.22
5.14
11.75
-2.96
-19.80
30.04
1.98
-3.53
11.87
15.11
36.
Annual
IQ
7.0
3.8
3.2
3.2
2.7
5.4
3.3
3.5
3.6
6.5
4.0
5. 1
5.2
4.3
4 .2
7.1
3.3
3.3
2.5
3.7
5.0
3.1
3.4
4.8
5.6
5.0
6. 1
5.0
4.6
4.1
6.2
4.6
3.0
2.9
2.8
5.2
3.5
3.4
3.8
6 .3
4.3
5. 0
5.5
4.3
4.2
3.5
3.0
2.3
2.4
2.1
2.0
3.6
4.0
3.4
2.6
3.3
5.9
4.5
3.8
3.3
2.9
3.4
2.6
2.1
2.3
2.0
2.2
4.1
3.9
3.1
2.7
4.3
5.1
4.5
3.7
3.0
3.0
3.6
3.0
2.3
2.5
2.2
2.1
3.5
4.0
3.4
2.7
3.5
5.9
4.4
3.9
3.2
3.0
(AUGUST 1980)
C. Historical Data for Selected Series—Continued
Monthly
Quarterly
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Annual
IQ
38. CHANGE IN STOCKS OF MATERIALS AND SUPPLIES ON HAND AND ON ORDER, MANUFACTURING 1
BILLIONS OF DOLLARS)
1948. . .
1949. . .
1950. . .
1951. . .
1952 . . .
1953. . .
1954. . .
1955. . .
1956. ..
1957. . .
1958. . .
1959. . .
I960.. .
1961.
1962.
1963.
. .
. .
. .
1964.
1965.
. .
. .
1966.. .
1967.
1968.
. .
..
1969...
1970.
1971.
1972.
1973.
.
.
.
.
.
.
.
.
1974...
1975. ..
1976. ..
1977. . .
1978. . .
1979. . .
1980. . .
III Q
II Q
IV Q
AVERAGE FOR I'ERIOD
-1.40
0.86
0.67
-0.49
-2.43
0.43
-0.98
-0.09
0.96
0.62
0.17
-1.06
0.56
0.41
-0.09
-1.01
1.33
-0.69
-0.38
0.18
0.30
0.10
-1.48
1.12
0.18
-0.43
-0.57
0.81
-1.17
-0.12
-0.21
0.57
-0.08
-1.05
0.38
0.97
-0.62
-0.55
0.39
-0.94
0.13
-0.63
0.80
0.38
-0.93
0.48
0.26
-0.24
-0.41
-0.02
-0.69
0.22
-0.17
0.36
-0.28
-0.66
0.52
-0.22
-0.50
0.16
0.52
-0.45
0.09
-0.19
-0.17
-0.95
-0.77
0.80
1.12
-0.91
0.24
0.11
-0.46
0.37
-0.18
0.02
-1.24
-0.69
0.65
1.04
-0.98
0.17
0.13
0.21
0.81
-0.13
-0.08
-1.84
0.14
0.86
0.04
-0.58
0.32
0.80
0.07
0.04
0.16
0.29
-1.73
0.56
1.07
0.24
-0.93
0.20
0.48
-0.58
0 .07
0.
0.37
-1.08
-0.18
0.71
0.22
-0.92
0.53
0.29
-0.26
0.32
-0.02
-0.06
-1.25
0.09
1.20
0.34
-1.17
0.07
-0.06
-0.67
1.15
0.03
0.
-1.31
0.85
0.42
-0.34
-1.34
0.86
-0.95
-0.20
0.31
0.50
0.01
-0.88
0.46
0.34
-0.45
-0.27
0.30
-0.69
0.15
-0.33
0.33
-1.34
-0.44
0.77
0.73
-0.82
0.24
0.35
-0.06
0.41
-0.05
0.08
-1.35
0.16
0.99
0.27
-1.01
0.27
0.24
-0.50
0.51
0.
0.10
-0.62
0.77
0.44
-0.65
-0.27
0.43
-0.55
0.22
-0.02
0.25
0.34
0.84
0.96
0.68
0.87
0.51
-0.67
1.02
0.63
2.48
2.79
-1.49
0.03
1.38
0.48
5.09
0.06
0.74
1.19
0.16
0.55
0.16
-0.40
0.32
0.73
2.27
3.14
-1.63
-0.19
0.76
1.41
3.70
0.31
0.66
1.59
-0.25
0.02
0.66
-0.16
0.06
0.43
2.90
2.27
-2.82
1.43
1.21
1.81
2.98
0.26
0.06
0.97
0.21
0.04
0.81
-0.16
-0.33
0.30
2.20
2.74
-2.99
0.44
0.84
1.84
4.33
0.35
0.44
0.99
0.
-0.16
0.69
-0.23
-0.87
0.76
2.46
3.90
-1.94
0.83
1.03
2.00
0.52
0.48
0.42
1.34
0.49
-0.58
0.15
-0.13
-1.32
0.51
2.17
3.48
-1.46
0.72
0.20
2.32
2.59
0.54
0.29
0.91
0.61
-0.72
0.30
-0.62
-0.34
0.96
1.73
3.17
-0.56
0.26
-0.17
1.95
1.24
0.42
0.15
' 1.15
0.68
0.29
-0.08
-0.36
-0.07
1.34
2.25
3.17
-0.52
-0.55
1.01
1.64
2.21
1.01
0.69
0.27
0.40
0.20
0.52
-0.07
-0.13
1.30
2.49
1.88
-0.55
0.63
1.46
2 .94
1.74
1.16
0.82
0.36
0 .28
0.50
0.67
-0.23
0.33
0.83
2.75
-0.38
0.17
0.47
0.44
2.19
2.24
0.84
0.58
0.22
0.56
0.54
-0.31
0.47
0.32
1.38
2.43
0.14
0.46
1.63
1.07
3.19
2.52
0.69
1.01
0.08
0.87
0.63
-0.14
0.38
0.53
1.04
2.81
-0.32
-0.31
0.61
1.81
2.84
1.51
0.24
0.75
1.25
0.20
0.48
0.44
-0.41
0.47
0.60
2.55
2.73
-1.98
0.42
1.12
1.23
3.92
0.36
0.31
1.10
0.23
-0.23
0.55
-0.17
-0.84
0.52
2.28
3.37
-2.13
0.66
0.69
2.05
2.48
0.66
0.38
0.78
0.56
-0.08
0.25
-0.35
-0.18
1.20
2.16
2.74
-0.54
0.11
0.77
2.18
1.73
0.90
0.80
0.22
0.57
0.56
0.07
0.21
0.39
1.08
2.66
-0.19
0.11
0. 90
1.11
2.74
2.09
0.54
0.56
0.84
0.39
0.18
0.33
-0.18
-0.04
0.85
2.41
2.16
-1.14
0.53
0.92
2.05
2.56
58. INDEX OF CONSUMER SENTIMENT 2
(FIRST QUARTER 1966=100)
®
AVERAGE FOR PERIOD
1948 . . .
1949 . . .
1951.
1952.
. .
. .
86.2
1954. . .
1955. . .
1956. . .
1957 . . .
1958. . .
1959. . .
1960. . .
1961 . . .
1962 . . .
82 .0
1963.. .
. .
. .
. .
99.0
101. 5
100 .0
1968 . . .
1969. . .
83.7
90.8
60.9
58 .0
84. 5
87.5
84.3
73.9
96.2
91.4
87 . 5
83.7
72.1
94 4
95.0
96.9
92 3
95.0
95.1
78 .1
78 .2
1971. . .
1972 . . .
1974 ...
1975. . .
1976. . .
1977. . .
1978. . .
1979. . .
1980. . .
99.7
99.9
78 . 5
98.9
91.1
97.2
94 .8
1964.
1965.
1966.
82 .9
99.1
98 .2
92 .9
78.8
68.4
81.6
66.0
102 .2
95.7
103.2
91.?
102 .9
88 .3
92 .4
91 6
92 .9
86 4
92 .1
79.7
81.6
89 3
82 .4
94 o
82 .2
90 8
72 0
72 .9
64 5
75.8
58 4
75.4
89.1
82.9
68.1
80.0
65.8
82.4
60.4
87.6
78.4
64.5
80.4
66.7
79.3
62.1
83. 1
75.0
63.3
94.8
94.8
66.1
61.0
82.3
71.5
81.5
66.6
78. STOCKS OF MATERIALS AND SUPPLIES ON HAND AND ON ORDER, MANUFACTURING, IN CURRENT DOLLARS
(BILLIONS OF DOLLARS)
1948
73.5
62.1
99.2
102.4
93.8
94.1
93.1
88.2
76.5
81.1
90.4
76.1
64 .0
70.5
85.4
86.8
79.4
66.0
47 .85
35.88
42.59
50.05
45.99
38.89
44.19
39.80
39.35
40.69
43. 39
43.79
36.35
45.57
50.85
42.97
39.69
44.90
38.29
40.89
40.70
43.70
43.79
36.35
45.57
50.85
42.97
39.69
44.90
38.29
40.89
40.70
43.70
47.49
54.47
66.25
69.91
72.12
77.53
74.95
73.90
82.03
106.23
140.74
126.24
130.17
140.60
160.29
192.93
50.18
56.88
66.92
71.62
73.80
11 .IS
75.56
75.07
85.28
114.22
140.18
126.56
132.88
143.91
168.52
199.20
50.18
56.88
66.92
71.62
73.80
77.75
75.56
75.07
85.28
114.22
140.18
126.56
132.88
143.91
168.52
199.20
80.4
63.9
END OF PERIOD
. .
1950
1952
1953. ..
1954. . .
1955. . .
1956. . .
1957. . .
1958. . .
1959. . .
1960. . .
1961. . .
1962. . .
1963. ..
51.59
42.38
37.21
46.24
50.35
40.54
40.12
43.92
38.19
41.86
41.32
51.76
41.32
37.77
46.65
50.27
39.53
41.46
43.23
37.81
42.04
41.62
51.86
39.84
38.90
46.83
49.83
38.96
42.27
42.06
37.69
41.83
42.19
51.78
38.79
39.28
47.80
49.22
38.41
42.66
41.11
37.82
41.20
42.99
52.16
37.86
39.76
48.06
48.97
38.01
42.63
40.42
38.04
41.03
43.35
51.88
37.19
40.28
47.84
48.47
38.17
43.16
39.98
38.12
40.84
43.17
50.93
36.43
41.09
48.97
47.55
38.41
43.27
39.52
38.49
40.66
43.19
49.69
35.74
41.74
50.01
46.57
38.58
43.40
39.73
39.30
40.53
43.11
47.85
35.88
42.59
50.05
45.99
38.89
44.19
39.80
39.35
40.69
43.39
46.12
36.44
43.66
50.29
45.06
39.09
44.67
39.22
39.42
40.70
43.76
45.04
36.27
44.37
50.51
44.14
39.62
44 .96
38.96
39.74
40.67
43.70
43.79
36.35
45.57
50.85
42.97
39.69
44.90
38.29
40.89
40.70
43.70
51.86
39.84
38.90
46.83
49.83
38.96
42.27
42.06
37.69
41.83
42.19
44.03
51.02
57.84
1967.. .
67.60
1968. . .
72.48
1969. . .
74.31
1970. ..
77.08
1971. . .
76.58
1972...
75.70
87.76
1973. . .
117.00
1974...
1975. . . 138.70
126.59
1976. ..
1977.. . 134.26
1978. . . 144.38
1979.. . 173.60
1980...
44.10
51.77
59.03
67.76
73.03
74.48
76.68
76.90
76.43
90.02
120.14
137.07
126.40
135.02
145.80
177.30
44.41
52.42
60.63
67.51
73.05
75.13
76.52
76.96
76.86
92.92
122.41
134.26
127.83
136.23
147.60
180.29
44.67
52.49
61.60
67.72
73.09
75.94
76.36
76.63
77.17
95.12
125.15
131.26
128.27
137.07
149.44
184.62
45.03
52.92
62.58
67.72
72.92
76.64
76.13
75.76
77.93
97.59
129.05
129.33
129.10
138.10
151.45
185.14
45.51
53.34
63.92
68.22
72.35
76.78
76.00
74.44
78.43
99.76
132.52
127.86
129.83
138.30
153.76
187.73
46.06
53.62
64.84
68.83
71.63
77.08
75.38
74.10
79.40
101.49
135.69
127.31
130.08
138.13
155.71
188.97
46.48
53.78
65.98
69.51
71.92
77.01
75.02
74.03
80.74
103.74
138.86
126.79
129.54
139.14
157.35
191.18
47.49
54.47
66.25
69.91
72.12
77.53
74.95
73.90
82.03
106.23
140.74
126.24
130.17
140.60
160.29
192.93
48.65
55.29
66 .61
70.19
72.63
78.19
74.72
74.22
82.87
108.98
140.36
126.40
130.63
141.03
162.48
195.16
49.49
55.87
66.83
70.75
73.17
77.89
75.18
74.54
84.24
111.40
140.50
126.87
132.26
142.10
165.67
197.69
50.18
56.88
66.92
71.62
73.80
11 .IS
75.56
75.07
85.28
114.22
140.18
126.56
132.88
143.91
168.52
199.20
44.41
52.42
60.63
67.51
73.05
75.13
76.52
76.96
76.86
92.92
122.41
134.26
127.83
136.23
147.60
180.29
1964. . .
1965. . .
1966. . .
Vhis series contains revisions beginning with 1977.
2
This series contains no revisions but is reprinted for the convenience of the user.
51.88
37.19
40.28
47.84
48.47
38 . 17
43.16
39.98
38.12
40.84
43. 17
45.51
53.34
63.92
68.22
72.35
76.78
76.00
74.44
78.43
99.76
132.52
127.86
129.83
138.30
153.76
187.73
(AUGUST 1980)
101
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Mar.
Feb.
Jan.
1960. ..
1961. . .
1962. . .
7.73
9.33
8.99
9.33
12.48
12.45
13.62
13.55
14.20
16.35
16.88
16.34
17.32
18.55
18.98
7.84
9.52
9.03
9.49
12.55
12.40
13.64
13.61
14.39
16.40
16.81
16.38
17.54
18.67
18.94
7.96
9.64
9.09
9.65
12.64
12.41
13.71
13.65
14.48
16.52
16.80
16.43
17.71
18.61
19.02
1963...
20.04
20.06
20.03
1964.. .
1965...
20.74
20.86
20.94
21.72
21.76
1966. . .
1967. ..
1968. ..
22.73
22.85
25.74
27.25
29.05
21.82
23.01
25.88
27.32
31.87
34.61
32.06
34.82
34.94
35.82
39.36
49.27
50.04
54.72
59.78
35.16
36.17
1951.. .
1952...
1953. . .
1954. . .
1955. . .
1956...
1957. . .
1958. ..
1959...
1969...
1970. . .
1971. . .
1972. . .
1973. . .
1974. ..
1975. . .
1976. ..
1977. . .
1978. . .
1979. ..
25.51
27.23
28.79
31.55
34.50
34.87
35.72
38.86
49.03
49.64
54.40
59.76
64.70
June
May
Aug.
July
INVENTORIES OF F I N I S H E D GOODS, BOOK VALUE,
( B I L L I O N S OF DOLLARS)
65. MANUFACTURERS
1948. ..
1949. ..
1950. ..
Apr.
29.31
40.00
49.54
50.38
55.02
60.24
65.88
65.51
8.22
9.52
9.10
10.91
12.34
12.80
13.47
13.62
15.24
16.78
16.51
16.47
18.20
18.75
19.44
8.02
9.62
9.08
9.98
12.57
12.47
13.56
13.60
14.59
16.56
16.67
16.54
17.90
18.73
19.04
19.95
8.13
9.53
9.03
10.43
12.33
12.66
13.46
13.62
14.82
16.72
16.58
16.58
18.11
18.71
19.26
20.06
20.28
21.06
21.62
21.12
21.74
23.31
21.10
21.86
23.07
26.20
27.34
29.60
32.72
34.67
35.37
36.23
40.63
49.44
50.79
55.37
23.58
26.43
27.58
26.40
27.47
29.95
32.73
34.67
35.55
30.16
33.01
34.67
35.86
36.99
36.61
41.02
51.08
41.76
49.13
51.91
56.34
56.72
60.71
61.03
61.45
67.08
67.22
68.08
49.28
Sept.
Oct.
Nov.
Dec.
IQ
II Q
III Q
IV Q
Annual
ALL MANUFACTURING INDUSTRIES
END OF P E R I O D
8.43
9.39
8.79
11.55
12.31
12.93
13.45
13.61
15.42
16.89
16.51
16.62
18.36
18.70
19.63
20.21
8.53
9.25
8.57
12.05
12.35
13.14
13.32
13.72
15.71
16.92
16.34
16.82
18.37
18.83
19.76
21.18
22.04
23.83
26.52
27.66
30.32
33.27
34.40
35.87
37.09
42.78
48.80
52.38
57.26
61.85
68.62
21.18
20.36
22.00
24.00
26.71
27.90
30.54
33.48
34.57
36.39
36.97
43.72
49.06
52.98
57.38
62.65
68.95
8.80
9.13
8.68
12.34
12.36
13.31
13.28
13.75
15.96
16.88
16.18
16.83
18.66
18.69
19.87
20.49
8.95
9.12
8.85
12.32
12.33
13.47
13.32
13.82
16.02
16.86
16.14
16.84
18.59
18.92
19.96
21.17
22.14
24.29
26.81
28.20
30.72
33.68
34.77
36.22
37.20
44.66
49.30
53.50
57.77
62.74
69.87
22.23
22.37
24.86
26.90
28.50
7.96
9.64
9.09
9.65
12.64
12.41
13.71
13.65
14.48
16.52
16.80
16.43
17.71
18.61
19.02
8.22
9.52
9.10
10.91
12.34
12.80
13.47
13.62
15.24
16.78
16.51
16.47
18.20
18.75
19.44
20.72
20.03
20.28
21.60
20.94
22.53
25. 16
21.82
23.01
21.10
21.86
27.07
28.78
25.88
27.32
31.09
31.27
29.31
34.25
35.02
35.96
37.64
46.98
49.54
34.20
34.90
35.92
38.22
32.06
34.82
48.14
53.91
59.14
54. 12
40.00
49.54
50.38
55.02
60.24
65.88
8.99
8.92
9.17
12. 22
12.32
13.57
13.28
13.88
16.21
16.74
16.29
16.95
18.56
18.94
19.95
9.15
8.98
9.22
12. 28
12.33
13.62
13.46
14.01
16.19
16.75
16.33
17.08
18.62
18.80
20.11
20.52
20.64
21.42
21.48
24.51
26.84
28.34
30.76
34.00
35.13
35.98
37.41
45.67
49.41
54. 30
58.48
62.75
69.75
63.64
69.94
49.74
58.94
63.88
70.53
35.16
36.17
23.58
26.43
27.58
30.16
33.01
34.67
35.86
36.99
41.76
49.13
51.91
56.72
61.45
68.08
8.80
9.13
8.68
12.34
12.36
13.31
13.28
13.75
15.96
16.88
16.18
16.83
18.66
18.69
19.87
20.49
9.15
8.98
9.22
12.28
12.33
13.62
13.46
14.01
16.19
16.75
16.33
17.08
18.62
18.80
20.11
9.15
8.98
9.22
12.28
12.33
13.62
13.46
14.01
16.19
16.75
16.33
17.08
18.62
18.80
20.11
20.72
20.72
21.17
22.14
24.29
26.81
28.20
30.72
33.68
34.77
36.22
37.20
44.66
49.30
53.50
57.77
62.74
69.87
21.60
21.60
22.53
22.53
25.16
25.16
27.07
28.78
27.07
28.78
31.27
31.27
34.20
34.90
35.92
38.22
34.20
34.90
35.92
38.22
48.14
48.14
49.74
49.74
54.12
54.12
58.94
63.88
70.53
58.94
63.88
70.53
1980...
69.
M A N U F A C T U R E R S ' M A C H I N E R Y AND E Q U I P M E N T SALES AND BUSINESS CONSTRUCTION
( A N N U A L RATE, B I L L I O N S OF DOLLARS)
EXPENDITURES
AVERAGE FOR P E R I O D
1948
1949. . .
1951.
1952.
1953.
1954.
..
..
. .
. .
31.49
33.85
30.46
33.28
29.39
34.04
28.90
1955...
29.70
31.14
31.75
31.60
1956. ..
1957. . .
1958. . .
1959. . .
1960. . .
1961. . .
1962. . .
34.51
41.77
35.07
42.65
36.64
37.56
40.62
1963...
44.34
1964.
1965.
1966.
1967.
1968.
50.23
57.47
33.49
38.04
36.71
41.00
40.60
42.41
..
..
..
..
..
97.27
1969...
99.15
1970. . .
103.81
1971...
102 .04
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
..
..
..
..
. .
..
..
..
68.12
73.16
115.76
127.14
152.00
163.64
160.14
181.82
205.29
256.93
32.31
33.70
28.48
32.37
35.56
38.02
38.51
41.47
41.29
36.47
37.99
35.24
38.39
40.89
34.63
39.50
28.27
32.82
39.99
40.68
35.45
39.79
41.20
41.62
41.92
41.59
40.81
43.51
45.16
40.27
44.23
44.72
40.42
44.82
46.07
40.07
40.58
45.66
46.60
50.04
58.39
68.05
72.80
93.80
101.18
106.62
102.46
115.17
125.62
153.72
163.90
165.31
183.16
209.48
256.86
50.57
60.22
70.90
72.08
95.07
103.99
105.57
51.32
61.01
71.08
71.47
104 .25
116.74
129.85
154.10
159.87
167.15
187.91
213.55
268.78
96.05
102.57
106.02
102.35
116.50
133.88
154.50
159.70
167.41
189.17
222.93
261.20
45.51
46.87
52.58
53.35
61.24
71.24
71.89
93.61
102 .74
61.38
105.50
103.84
116.85
135.01
156.52
159.17
170.76
192.32
221.05
268.02
72.83
73.12
93.14
103.88
102 .43
105.51
116.81
137.51
161.80
158.48
169.67
189.20
228.54
265.92
32.82
29.26
32.26
39.50
39.99
34.32
41.31
42.53
39.90
45.10
47.58
55.65
62.42
73.78
73.51
93.23
105.77
104 .45
103 .64
116.26
142.25
159.50
158.32
170.90
195.04
230.65
274.41
31.30
28.29
33.24
39.51
41.24
35.16
40.24
40.26
41.69
46.17
47.82
53.98
62.02
75.01
74.35
94.14
106.04
103.79
104 .92
118.33
141.46
159.54
159.24
174.09
198.14
236.47
278.61
31.39
28.36
34.21
39.34
40.39
35.26
40.74
41.31
42.16
45.30
48.18
54.64
64.06
74.94
74.52
95.70
108.68
101.91
107.03
117.21
144.20
165.04
159.01
173.66
200.56
245.60
280.10
31.93
31.02
27.34
34.20
40.62
40.62
35.07
40.50
40.97
42.58
28.22
34.39
45.12
48.91
45.16
41.08
41.08
43.17
44. 10
48.45
48.65
55.26
65.42
75.80
73.56
97.02
107.88
101.08
106.62
118.32
146.78
168.03
161.64
174.72
204.59
245.93
285.29
55.66
66.65
74.33
74.63
57.15
41.84
40.01
36.04
40.17
40.65
42.90
98.14
106.90
101.58
107.76
120.89
151.68
168.31
159.66
177.18
205 . 4 6
249.54
279.46
30.48
29.06
34.93
42.51
38.09
35.74
33.54
30.45
30.86
35.05
41.96
37.05
37.42
40.94
40.56
43.38
44.74
33.35
28.55
32.26
38.84
40.95
35.11
39.23
41.71
40.36
45.33
46.51
52.42
287 .54
50.28
58.69
69.02
72.68
95.38
101.44
105.33
102.92
115.89
127.54
153.27
162.47
164.20
184.30
209.44
260.86
94.27
103.06
104.65
103.90
116.72
135.47
157.61
159.12
169.28
190.23
224.17
265.05
26.62
27.81
28.22
19.62
23.82
20.97
48.47
65.95
74.03
52.00
47.84
20.18
58.19
60.22
59.99
68.95
75.05
77.93
95.50
106.84
103.00
114.67
122.63
150.40
162.90
158.94
184.66
205.67
252.58
61.21
71.72
72.16
31.84
28.64
33.24
39.45
40.54
34.91
40.76
41.37
41.25
45.52
47.86
31.14
28.21
34.51
41.66
54.76
62.83
74.58
74.13
94.36
106.83
103.38
105.20
117.27
142.64
161.36
158.86
172.88
197 .91
237.57
277.71
56.02
39.57
35.62
40.58
40.90
42.88
44.79
48.67
67.01
75.06
75.37
96.89
107.21
101.89
109.68
120 .61
149.62
166.41
160.08
178.85
205.24
249.35
284.10
32.47
28.96
32.72
38.75
40.76
35.67
39.50
41.23
41.26
44.76
46.95
53.37
62.44
72.59
73.58
95.22
104 .64
103.81
105.42
117.62
138.82
159.66
160.13
171.30
194.42
230.13
271.93
1980...
96.
1948. . .
1952. . .
28.25
25.63
20.20
40.84
63.99
1953...
1954.. .
74.41
56.18
1955. ..
1956. . .
1957. . .
46.03
57.55
63.63
46.55
45.30
47.83
1949...
1950. ..
1951.. .
1958...
1959. . .
1960. . .
1961. . .
1962...
1963.. .
1964.
1965.
1966.
1967.
1968.
..
..
..
. .
..
1969...
1970. . .
1971. . .
1972. . .
1973...
1974.. .
1975. ..
1976. ..
1977. . .
1978.. .
1979. . .
1980. ..
27.96
24.78
20.56
44.56
63.98
74.83
54.49
46.65
57.78
63.61
45.39
46.72
46.93
42.17
42.31
44.79
46.86
45.38
48.00
52.58
64.70
78.22
94.65
100.69
106.12
110.20
102.51
102.05
116.72
156.08
179.40
159.94
166.65
186.93
234.72
53.28
65.82
79.98
94.86
100.94
106.80
109.16
103.36
102.70
119.77
159.88
176.62
159.41
167.02
189.66
241.82
MANUFACTURERS
27.81
23.82
20.97
48.47
65.95
74.03
52.00
47.84
58.19
62.74
44.88
47.62
45.68
42.02
44.92
49.40
54.10
66.66
82.37
94.46
102.52
107.53
108.32
103.33
103.12
123.98
162.85
173.25
160.32
167.42
193.72
247.71
27.82
22.52
21.43
51.77
68.13
73.51
50.17
48.20
59.41
61.88
44.04
48.14
44.61
42.23
44.15
49.94
54.96
67.60
84.21
94.60
102.86
109.88
106.96
102.80
103.44
127.55
165.92
170.72
160.82
168.79
197.17
252.43
U N F I L L E D ORDERS, DURABLE GOODS INDUSTRIES
( B I L L I O N S OF DOLLARS)
27.49
28.22
21.42
21.86
20.18
22.63
56.80
54.20
68.34
73.42
48.38
48.54
59.96
71.06
72.89
46.71
49.10
60.22
59.99
61.24
43.71
47.71
43.91
47.95
43.75
42.52
43.57
50.55
43.98
42.38
43.73
50.76
56.08
68.44
85.63
95.62
102.46
110.78
106.08
101.49
104.44
131.06
170.82
168.74
160.71
170.15
201.16
253.96
57.31
69.32
87.80
97.17
102.35
110.74
105.22
100.12
105.49
134.03
174.53
166.32
161.24
171.68
203.95
257.19
NOTE: These series contain revisions beginning with 1977.
102
28.58
19.30
24.96
59.04
72.87
70.71
45.52
49.91
61.70
58.26
44.02
47.88
43.30
42.87
43.59
50.57
58.87
70.10
89.55
97.84
101.18
110.74
104.17
99.36
106.02
135.85
178.38
165.98
162.30
171.72
205.89
257.90
28.80
18.89
28.87
60.01
73.52
68.46
44.52
50.56
63.60
56.56
44.00
47.99
43.71
43.27
43.16
50.71
59.47
70.81
90.64
98.22
101.88
110.42
102.74
99.30
106.66
138.65
183.82
164.96
161.37
173.14
209.04
258.30
END OF
28.53
18.59
31.06
60.81
74.37
64.97
44.82
51.74
63.72
55.15
43.73
49.15
44.02
43.42
43.74
51.28
28.09
27.48
18.93
33.03
19.36
34.14
62.13
62.94
73.80
62.43
73.16
60.58
72.19
92.94
98.50
103.00
111.16
102.04
100.10
109.13
141.57
1 86 . 4 2
163.98
161.54
174.66
212.99
261.74
46.13
53.21
63.56
53. 24
43.86
49.96
43.21
60.58
45.31
54.37
63.81
51.79
44.63
49.93
42.83
35.44
63.39
72.68
58.64
45.25
56.24
63.88
50.35
44. 56
49.37
42. 51
43.49
43.81
44. 27
51.38
44.39
51.59
51.27
61.81
62.67
74.84
63.69
76.30
94.58
101.06
105.94
110.97
101.32
101.74
114.06
152.09
182.04
161.29
165.51
184.71
228.82
267.88
73.54
93.76
99.51
104.54
111.09
100.90
100.43
110.28
145.06
185.28
162.28
162.66
177 .62
219.31
262.72
94.21
99.97
104.96
111.12
100.66
101.26
111.76
149.12
184.38
162.14
163.63
180.59
225.02
264.87
44.38
45.96
62.74
44.88
47.62
45.68
42.02
44.92
49.40
22.63
56.80
71.06
72.89
46.71
49.10
43.91
47.95
43.75
42.52
43.57
50.55
54.10
57.31
66.66
82.37
94.46
102.52
107.53
108.32
103.33
103.12
123.98
162.85
173.25
160.32
167.42
193.72
247.71
69.32
87.80
97.17
102.35
110.74
105.22
100.12
105.49
134.03
174.53
166.32
161.24
171.68
203.95
257.19
PERIOD
28.53
18.59
31.06
60.81
74.37
64.97
44.82
51.74
63.72
55.15
43.73
49.15
44.02
43.42
43.74
51.28
26.62
26.62
19.62
19.62
35.44
63.39
72.68
58.64
45.25
56.24
63.88
50.35
44.56
49.37
35.44
63.39
72.68
58.64
45.25
56.24
63.88
50.35
44.56
49.37
60.58
72.19
92.94
98.50
103.00
111.16
102.04
100.10
109.13
141.57
186.42
163.98
161.54
174.66
212.99
261.74
42.51
42.51
44.38
45.96
44.38
45.96
51.27
51.27
63.69
76.30
94.58
101.06
105.94
110.97
101.32
101.74
114.06
152.09
182.04
161.29
165.51
184.71
228.82
267.88
63.69
76.30
94.58
101.06
105.94
110.97
101.32
101.74
114.06
152.09
182.04
161.29
165.51
184.71
228.82
267.88
(AUGUST 1980)
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1 Q
548. VALUE OF MANUFACTURERS' NEW ORDERS, DEFENSE PRODUCTS
( M I L L I O N S OF DOLLARS)
1948.
1949.
1950.
1951.
1952.
.
.
.
.
.
III Q
HQ
IV Q
Annual
TOTAL FOR PERIOD
.
.
.
.
.
1953.. .
1954 ...
1955. . .
1956. ..
1957. . .
1958. . .
1959. ..
1960. . .
1961. . .
1962. . .
1963. . .
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
..
..
..
..
..
..
..
. .
..
..
..
. .
. .
. .
. .
..
..
2,169
1,503
2,022
2,004
1,738
2,334
1,631
1,721
2,012
2,735
2,684
1,997
1,752
1,825
1,881
1,557
1,499
2,334
2,509
2,190
1,921
1,727
2,128
2,689
2,884
2,398
2,567
1,880
1,328
1,349
1,977
1,302
1,600
1,481
1,683
1,631
1,856
1,151
1,847
2,106
1,898
1,391
1,455
1,797
2,461
2,407
2,795
2,249
2,207
3,149
3,761
3,181
2,751
2,107
1,983
1,915
2,412
2,417
3,946
3,640
3,237
2,464
2,063
2,891
2,529
2,422
4,393
3,871
3,102
2,033
2,084
1,785
1,665
2,104
1,907
1,168
1,582
1,478
2,446
2,296
2,749
1,764
1,692
1,650
1,308
2,016
3,651
2,153
1,977
1,985
2,157
3,214
2,332
3,029
559. MANUFACTURERS' INVENTORIES, DEFENSE
( M I L L I O N S OF DOLLARS)
2,420
3,024
2,481
1,505
2,066
2,056
1,900
1,690
1,336
1,834
1,378
1,375
1,494
1,785
1,749
2,199
2,648
2,174
2,012
2,733
3,279
4,237
3,867
3,048
4,371
1,943
2,144
1,628
1,730
1,543
2,430
2,409
2,093
2,982
3,323
2,002
2,442
1,733
1,410
1,842
1,676
1,958
1,805
3,957
4,273
4,381
4,101
4,033
3,787
7,701
6,319
5,208
5,231
4,910
5,214
5,970
6,203
6,802
6,355
9,657
9,657
6,304
5,354
4,023
5,222
5,937
6,291
6,571
7,414
8,317
7,558
4,934
5,852
6,426
6,652
5,051
4,261
4,830
5,347
7,328
7,247
6,447
5,940
5,745
5,273
9,672
11,967
12,349
10,868
6,417
10,944
9,285
8,650
9,598
5,261
4,721
24,209
21,675
19,135
19,114
22,438
25,334
25,294
30,335
33,056
41,600
39,408
PRODUCTS
END OF P E R I O D
1948. . .
1949. . .
1950 ...
1951 ...
1952. ..
1953
1954. . .
1955. . .
1956. . .
1957. . .
1958. . .
1959. . .
1960. . .
1961 . . .
1962 .
1963 ...
1964. . .
1965. ..
1966. ..
1967 ...
6,760
7,364
7,372
4,630
3,936
6,745
7,500
6,982
4,499
6 ,678
3,951
1973...
4,019
4,010
4,051
1974. ..
1975. . .
1976. . .
1977. . .
1978. ..
1979. ..
1980. . .
4,366
4,033
4,449
5,153
6,091
5,231
6,117
6,450
6,404
6,606
7,485
1968...
1969.
1970.
1971.
1972.
. .
..
..
. .
6,441
7,397
7,636
6,859
4,452
4,539
5,300
6,289
6,263
6,626
7,586
6,843
7,443
6,643
4,482
3,966
4,332
4,570
5,389
6,318
6,225
6,736
7,573
6,859
7,435
6,457
4,375
7,094
7,579
6,239
3,920
3,951
3,971
4,271
4,233
4,629
5,465
6,343
6,220
6,828
7,806
4,689
5,616
6,430
6,291
6,804
7,953
6,812
7,793
6,998
7,765
6,143
5,918
3,836
3,956
4,233
4,786
5,750
6,450
6,304
3,660
4,006
4,257
4,885
5,777
6,415
6,901
6,340
6,896
8,048
8,178
7,100
7,757
5,642
3,774
4,025
4,282
4,934
5,928
6,462
6,344
6,905
8,553
7,072
7,725
5,269
3,816
4,070
7,069
7,650
5,105
3,851
7,219
7,554
4,870
3,984
4,049
4,306
5,067
4,982
4,079
4,245
5,004
6,018
6,081
6,138
6,489
6,570
6,286
7,004
9,275
6,339
6,392
4,251
6,197
7,013
8,871
7,170
9,462
6,678
7,636
6,859
4,452
7,094
7,579
6,239
3,920
4,010
4,051
3,971
4,271
4,539
5,300
6,289
6,263
6,626
7,586
588. M A N U F A C T U R E R S ' S H I P M E N T S , D E F E N S E PRODUCTS
M I L L I O N S OF DOLLARS)
4,689
5,616
6,430
6,291
6,804
7,953
7,100
7,219
7,219
7,757
5,642
3,774
4,025
4,282
4,934
5,928
6,462
6,344
6,905
8,553
7,554
4,870
3,984
4,049
4,306
5,067
7,554
4,870
3,984
4,049
4,306
5,067
6,138
6,138
6,339
6,392
6,339
6,392
7,170
7,170
9,462
9,462
TOTAL FOR P E R I O D
1948. . .
1953 ...
1956
1958
1961
1962 ...
1968. . .
1969. . .
1970. ..
1971...
1972. ..
1973...
1974.
1975.
1976.
1977.
1978.
1979.
1980.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2,247
2,325
2,154
2,205
2,305
2,083
2,191
1,999
1,690
1,523
1,665
1,736
1,879
2,216
1,986
1,815
1,485
1,563
1,680
1,941
2,167
2,368
2,230
2,035
2,289
2,232
2,057
1,716
1,495
1,548
1,703
1,957
2,159
1,610
1,543
1,602
1,779
2,537
2,532
2,838
2,486
2,652
2,765
1,677
1,492
1,601
1,742
1,975
2,175
2,517
2,399
2,480
2,795
3,029
2,719
2,915
2,714
2,000
2,186
2,824
NOTE: These series contain revisions beginning with 1977.
2,105
2,117
2,032
2,048
1,504
1,651
1,833
1,955
2,118
2,482
2,705
2,996
2,406
2,148
1,929
1,603
1,644
1,852
1,751
1,901
2,175
2,549
2,604
2,814
2,055
2,257
2,016
1,695
1,619
1,773
1,750
2,045
2,257
2,444
2,688
2,988
2,135
2,135
1,964
1,438
1,622
1,730
1,858
1,880
2,194
2,010
1,490
1,617
1,767
1,866
2,553
2,773
2,934
2,540
2,706
3,038
2,233
2,094
2,077
2,321
2,211
2,214
1,905
1,556
1,647
1,736
1,828
2,072
2,280
2,600
2,748
3,150
2,312
2,231
1,853
1,415
1,586
1,642
1,908
1,912
6,904
6,787
6,078
5,208
4,472
2,406
2,586
2,832
6,501
3,188
4,712
5,125
5,873
7,540
7,979
8,632
6,464
6,613
6,114
5,348
4,570
4,918
5,348
5,834
6,520
7,361
8,138
8,735
6,596
6,540
5,909
4,736
4,885
5,355
5,359
5,826
6,626
7,546
8,065
8,736
6,756
6,539
5,768
4,461
4,850
5,145
5,602
6,061
7,007
7,726
8,286
9,376
26,720
26,479
23,869
19,753
18,777
20,130
21,434
23,594
26,654
30,173
32,468
35,479
(AUGUST 1980)
103
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Apr.
Mar.
Feb.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
II Q
602. EXPORTS, EXCLUDING MILITARY AID SHIPMENTS, TOTAL1
(MILLIONS OF DOLLARS)
Annual
III Q
IV Q
TOTAL FOR PERIOD
1948. ..
1949. . .
1950. . .
1951. ..
1952.. .
1953. . .
1954. . .
1955. . .
1956...
1957. ..
1958. ..
1959. ..
1960...
1961. . .
1962. ..
1963. . .
1,110
1,190
795
970
1,250
1,041
962
1,168
1,289
1,653
1,423
1,314
1,534
1,622
1,667
987
1,102
1,072
792
1,022
1,236
971
1,047
1,198
1,290
1,577
1,322
1,256
1,554
1,708
1,819
2,143
1,049
1,095
772
1,080
1,281
1,001
862
1,159
1,348
1,881
1,385
1,326
1,541
1,755
1,664
1,954
1,023
1,085
786
1,256
1,138
1,024
1,196
1,113
1,394
1,739
1,364
1,305
1,627
1,637
1,804
1,927
1,062
1,046
772
1,133
1,129
1,008
1,087
1,132
1,413
1,560
1,379
1,320
1,644
1,578
1,764
1,899
989
1,078
831
1,132
1,063
998
1,091
1,170
1,442
1,674
1,337
1,357
1,643
1,621
1,877
1,837
1,069
976
821
1,234
970
1,011
1,076
1,223
1,412
1,617
1,361
1,397
1,711
1,698
1,750
1,839
1,125
977
813
1,233
1,012
1,026
1,067
1,215
1,454
1,617
1,365
1,432
1,660
1,695
1,709
1,912
950
908
889
1,233
1,028
1,154
1,056
1,235
1,586
1,605
1,354
1,528
1,661
1,669
1,898
1,964
1,055
906
893
1,101
1,004
951
1,111
1,260
1,509
1,546
1,349
1,328
1,685
1,809
1,542
1,943
855
868
940
1,273
1,026
1,035
1,147
1,215
1,360
1,534
1,401
1,376
1,673
1,738
1,717
1,946
1,188
858
915
1,309
1,016
1,073
1,130
1,226
1,836
1,493
1,339
1,493
1,631
1,700
1,811
2,059
3,261
3,357
2,359
3,072
3,767
3,013
2,871
3,525
3,927
5,111
4,130
3,896
4,629
5,085
5,150
5,084
3,074
3,209
2,389
3,521
3,330
3,030
3,374
3,415
4,249
4,973
4,080
3,982
4,914
4,836
5,445
5,663
3,144
2,861
2,523
3,700
3,010
3,191
3,199
3,673
4,452
4,839
4,080
4,357
5,032
5,062
5,357
5,715
3,098
2,632
2,748
3,683
3,046
3,059
3,388
3,701
4,705
4,573
4,089
4,197
4,989
5,247
5,070
5,948
12,653
12,051
9,993
13,968
13,203
12,262
12,854
14,291
17,333
19,495
16,367
16,407
19,626
20,190
20,973
22,427
1964...
1965. ..
1966. ..
1967. . .
1968. ..
1969. ..
1970. ..
1971. . .
1972. . .
1973. . .
1974. ..
1975. ..
1976. ..
1977. . .
1978. ..
1979. . .
1980. . .
2,052
1,228
2,298
2,639
2,814
2,161
3,406
3,601
4,074
4,955
7,150
9,497
9,108
9,666
9,863
13,265
2,076
1,623
2,353
2,582
2,775
2,266
3,546
3,694
3,824
5,070
7,549
8,804
8,932
9,898
9,938
13,616
2,067
2,739
2,530
2,524
2,439
3,188
3,375
3,790
3,868
5,311
7,625
8,715
9,026
10,164
11,143
14,297
2,081
2,406
2,316
2,608
2,855
3,318
3,410
3,631
3,820
5,494
8,108
8,713
9,377
9,940
11,628
13,979
2,076
2,299
2,416
2,549
2,740
3,268
3,661
3,746
3,882
5,561
7,652
8,241
9,570
10,529
11,776
14,083
2 ,080
2,235
2,484
2,582
2,870
3,179
3,727
3,672
3,971
5,728
8,317
8,754
9,734
10,091
12,264
14,817
2,118
2,300
2,469
2,601
2,858
3,182
3,704
3,573
4,074
5,865
8,307
8,884
9,989
10,372
11,656
15,691
2,095
2,329
2,460
2,566
2,950
3,366
3,591
3,666
4,196
6,042
8,379
9,038
9,826
9,683
12,286
15,713
2,237
2,291
2,502
2,597
3,211
3,341
3,553
4,487
4,176
6,420
8,399
9,116
9,839
11,039
13,275
15,822
2,150
2,349
2,616
2,415
2,631
3,342
3,688
2,669
4,316
6,585
8,673
9,241
9,770
9,357
12,901
16,680
2,183
2,378
2,491
2,671
2,972
3,398
3,499
3,196
4,473
6,879
8,973
9,421
9,602
9,478
13,448
16,928
2,394
2,362
2,467
2,677
2,977
3,280
3,569
3,881
4,558
6,949
8,862
9,272
10,448
10,999
13,282
16,742
6,195
5,590
7,181
7,745
8,028
7,615
10,327
11,085
11,766
15,336
22,324
27,016
27,066
29,728
30,944
41,178
6,237
6,940
7,216
7,739
8,465
9,765
10,798
11,049
11,673
16,783
24,077
25,708
28,681
30,560
35,668
42,879
6,450
6,920
7,431
7,764
9,019
9,889
10,848
11,726
12,446
18,327
25,085
27,038
29,654
31,094
37,217
47,226
6,727
7,089
7,574
7,763
8,580
10,020
10,756
9,746
13,347
20,413
26,508
27,934
29,820
29,834
39,631
50,350
25,690
26,691
29,379
30,934
34,063
37,332
42,659
43,549
49,199
70,823
97,908
107,589
115,150
121,150
143,578
181,637
604. EXPORTS OF AG RICULTURAL PRODUCTS2
(MILLIONS OF DOLLARS)
TOTAL FOR PERIOD
3,473
3,578
2,873
4,040
3,431
2,848
3,054
3,198
4,170
4,506
3,855
3,955
4,832
5,024
5,034
5,584
1949. . .
1952
1954
1955
1958 . . .
1961. . .
1963. . .
1964. . .
1965. . .
1966. . .
1967. . .
1968. ..
1969. . .
1970. . .
1971. . .
1972. ..
1973...
1974. . .
1975. . .
1976. . .
1977.. .
1978...
1979. . .
1980.. .
228
547
569
579
186
541
680
766
1,111
1,774
2,369
1,917
1,762
1,818
2,338
349
554
542
573
246
569
633
703
1,142
1,829
1,830
1,630
2,004
2 ,058
2,424
662
594
526
518
490
533
658
606
1,268
1,869
1,703
1,668
2,112
2 ,363
2,682
550
550
526
528
609
565
636
628
1,251
1,978
1,723
1,892
2,142
2,428
2,547
538
552
542
491
576
566
623
722
1,412
1,882
1,575
1,950
2,360
2 ,861
2,450
550
572
539
475
526
612
624
771
1,442
1,806
1,480
1,948
2,077
2 ,904
2,909
595
531
512
503
541
614
632
754
1,370
1,842
1,735
2,039
1,976
2 ,392
3,103
500
624
513
544
494
610
636
796
1,731
1,698
1,872
2,058
1,801
2 ,774
3,141
515
601
523
509
518
639
866
837
1,726
1,654
1,932
2,160
2 ,064
2,512
3,059
562
595
507
441
612
694
447
882
1,706
1,691
2 ,060
2,231
1 ,654
2,596
3,254
541
580
560
516
565
628
546
927
1,769
1,978
1,821
1,750
1,755
2,533
3,415
591
580
522
569
551
689
768
1,007
1,785
1,922
1,776
1,860
2,111
2,555
3,434
1,239
1,695
1,637
1,670
922
1,643
1,971
2,075
3,521
5,472
5,902
5,215
5 ,878
6,239
7,444
606. EXPORTS OF NONELECTRICAL MACHINERY 2
MILLIONS OF DOLLARS)
1,638
1,674
1,607
1,494
1,711
1,743
1,883
2,121
4,105
5,666
4,778
5,790
6,579
8,193
7,906
1,610
1,756
1,548
1,556
1,553
1,863
2,134
2,387
4,827
5,194
5,539
6,257
5,841
7,678
9,303
1,694
1,755
1,589
1,526
1,728
2,011
1,761
2,816
5,260
5,591
5,657
5,841
5,520
7,684
10,103
6,348
6,229
6,874
6,380
6,227
5,936
7,247
7,698
9,407
17,681
21,999
21,886
22,998
23,671
29,384
34,745
TOTAL FOR PERIOD
1948 . . .
1949 . . .
1950. . .
1951. . .
1952 . . .
1953. . .
1954. . .
1955. . .
1956. . .
1957. . .
1958. . .
1959. . .
1960. . .
1961 . . .
1962 . . .
1963. . .
1964. . .
1965. . .
1966. . .
1967...
1968...
1969...
1970...
1971...
1972. . .
1973...
1974...
1975. . .
1976...
1977...
1978. ..
1979. ..
1980. . .
230
435
521
523
408
628
732
775
880
1,155
1,672
1,780
1,831
2,084
2,682
322
439
502
530
437
678
691
780
911
1,197
1,632
1,817
1,892
2,187
2,832
480
470
490
438
622
647
724
773
925
1,270
1,626
1,806
1,859
2,450
2,917
456
433
494
539
647
651
720
757
926
1,288
1,760
1,818
1,808
2,415
2,706
432
448
508
519
622
680
680
767
975
1,338
1,720
1,836
1,835
2,472
2,859
This series contains revisions beginning with 1977.
104
435
468
498
515
594
718
700
783
997
1,339
1,772
1,871
1,868
2,427
3,034
426
484
485
526
608
755
686
776
1,028
1,398
1,770
1,952
1,862
2,451
3,022
433
457
476
557
652
706
663
814
1,041
1,509
1,752
1,675
1,732
2,528
3,241
414
473
497
573
616
718
871
818
1,090
1,481
1,750
1,883
2,133
2,815
3,153
472
491
458
512
678
785
582
781
1,115
1,552
1,814
1,821
1,556
2,625
3,251
This series contains revisions beginning with 1978.
450
475
510
586
657
701
672
862
1,107
1,624
1,770
1,814
1,791
2,718
3,172
463
486
520
518
630
720
783
860
1,111
1,523
1,843
1,983
2,056
2,824
3,240
1,032
1,344
1,513
1,491
1,467
1,953
2,147
2,328
2,716
3,622
4,930
5,403
5,582
6,721
8,431
1,323
1,349
1,500
1,573
1,863
2,049
2,100
2,307
2,898
3,965
5,252
5,525
5,511
7,314
8,599
1,273
1,414
1,458
1,656
1,876
2,179
2,220
2,408
3,159
4,388
5,272
5,510
5,727
7,794
9,416
1,385
1,452
1,488
1,616
1,965
2,206
2,037
2,503
3,333
4,699
5,427
5,618
5,403
8,167
9,663
5,013
5,559
5,959
6,336
7,171
8,387
8,504
9,546
12,106
16,674
20,881
22,056
22,223
29,996
36,109
(AUGUST 1980)
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Feb.
Mar.
Apr.
June
May
July
Sept.
Oct.
Nov.
Dec.
IQ
II Q
620
572
912
800
899
818
805
1,045
1,055
1,086
1,091
1,184
1,197
1,298
1,316
1,459
555
603
876
845
904
873
821
1,045
969
1,065
1,156
1,292
1,162
1,305
1,419
1,459
677
594
891
812
978
837
874
971
1,050
1,080
1,139
1,353
1 ,142
1,326
1,380
1,488
1,697
1,702
1,775
2,863
2,641
2,729
2,469
2,690
3,142
3,231
3,126
3,588
3,891
3,472
3,984
4,084
1 ,720
1,605
1,926
2,958
2,591
2,842
2,728
2,769
3,128
3,218
3,154
3,849
3,907
3,500
4,119
4,253
1,688
1,941
2,195
2,396
2,883
3,180
3,428
3,456
5,148
6,684
8,973
8,227
10,645
12 , 4 0 7
14,818
18,548
1,655
1,911
2,196
2 ,493
4,401
4,666
6,029
6,699
7,867
7,656
9,720
10,792
13,424
16,141
21,558
25,265
27,560
35,481
41,329
46,491
4,585
5,456
6,252
6,500
8,151
9,591
9,864
11,719
13,371
16,838
24,866
22,386
29,082
36,302
42,473
49,114
612. GENERAL IMPORTS, TOTAL1
(MILLIONS OF DOLLARS)
1948. . .
1949.. .
1950...
1951. . .
1952. . .
1953. ..
1954. . .
1955...
1956. . .
1957. . .
1958. . .
1959...
I960.. .
1961...
1962. ..
1963. ..
526
587
592
939
856
904
855
886
1,045
1,057
1,053
1,166
1,247
1,154
1,320
1,089
589
567
606
927
881
902
852
897
1,063
1,056
1,022
1,202
1,353
1,154
1,325
1,510
1964. ..
1965. . .
1966. ..
1967.. .
1968. . .
1969. . .
1970.. .
1971. . .
1972. ..
1973. ..
1974. ..
1975. . .
1976. . .
1977. . .
1978...
1979. ..
1980. ..
1,421
1,199
1,966
2,317
1,462
1,606
2,013
2,216
2,687
2,002
3,222
3,599
4,436
5,244
6,498
9,848
2,592
2,672
3,279
3,564
4,473
5,483
9,019
10,444
13,103
16,528
7,318
7,947
9,054
12,613
14,221
14,605
510
534
606
1,005
870
998
945
902
1,019
1,100
1,051
1,218
1,353
1,158
1,368
1,412
590
548
636
986
839
931
848
939
1,040
1,060
1,066
1,330
1,278
1,162
1,396
1,409
620
523
684
967
882
913
935
928
1,069
1,058
1,037
1,301
1,276
1,180
1,355
1,432
610
515
787
940
846
899
847
953
1,063
1,111
1,023
1,227
1,268
1,359
1,341
1,447
626
487
821
885
897
910
851
952
1,065
1,099
1,046
1,289
1,245
1,243
1,347
1,507
596
565
955
838
915
968
818
992
1,132
1,074
1,083
1,411
1,210
1,266
1,479
1,455
1,535
1,797
2 ,060
2,118
1,525
1,848
2,102
2,184
1,576
1,742
2,216
1,585
1,825
2,137
2,145
1,559
1,858
1,550
1,885
2,288
2,303
2,254
2,736
1,518
1,861
1,525
1,811
2,090
2,166
2,198
2,588
2,982
2,604
3,219
3,262
3,774
3,629
4,515
5,414
7,742
7,470
9,487
12,424
14,005
15,358
3,183
4,417
5,360
8,025
7,986
9,666
11,798
14,491
15,841
2,755
3,256
3,337
3,908
4,486
5,703
8,264
7,280
9,226
11,170
14,012
16,438
2,792
3,152
3,265
4,037
4,468
5,775
8,577
7,120
10,190
13,334
13,970
16,835
2,245
2,725
3,074
3,254
3,832
4,565
5,829
8,922
7,850
10,742
12,483
14,543
16,806
III Q
IV Q
TOTAL FOR PERIOD
582
548
577
997
904
923
762
907
1,034
1,118
1,051
1,220
1,291
1,164
1,339
1,485
2,050
Annual
Aug.
2,198
2,951
2,872
3,163
3,078
3,423
3,346
6,010
9,267
7,890
10,500
12,101
14,130
18,277
5,644
8,696
3,498
3,469
4,738
5,996
8,773
8 ,241
8,191
4,179
4,612
3,913
4,726
3,192
10,692
12,942
14,821
18 ,407
10,584
12,587
14,852
19,037
2,908
3,078
3,402
4,169
5,002
6,291
9,257
8,547
11,053
13,474
15,028
19,665
614. IMPORTS OF PETROLEUM AND PETROLEUM PRODUCTS2
(MILLIONS OF DOLLARS)
1,832
1,567
1,852
1,769
2,563
2,663
2,658
2,777
2,679
2,457
2,781
2,516
2,528
2,500
2,897
3,260
3,284
3,231
3,152
3,927
3,723
3,868
3,061
3,074
3,386
3,829
3,501
3,929
4,167
4,115
4,409
4,406
4,720
5,425
4,893
5,737
6,694
6,641
6,588
8,548
9,315
10,023
11,924
13,903
17,483
26,885
23,981
31,934
37,526
43,494
53,490
7,143
8,527
9,450
10,328
11,094
14,888
18,971
27,003
24,965
32,282
38,468
44,698
57,250
7,124
6,622
8,852
10,967
10,717
10,873
10,215
11,384
12,615
12,982
12,792
15,207
15,018
14,714
16,390
17,138
18,684
21,364
25,542
26,812
33,226
36,043
39,952
45,563
55,583
69,476
100,251
96,570
121,009
147,685
171,978
206,326
TOTAL FOR PERIOD
1948. . .
1949. . .
1950. ..
1951. . .
1952. . .
1953. . .
1954. ..
1955. . .
1956. . .
1957. . .
1958. . .
1959. ..
1960. . .
1961. . .
1962 . . .
1963. . .
1964. . .
1965. . .
1966. . .
1967. . .
1968. ..
1969. ..
1970...
1971. . .
1972. . .
1973. ..
1974. . .
1975...
1976.. .
1977.. .
1978...
1979. . .
1980. ..
162
162
185
192
208
226
219
332
462
1,167
3,080
2,475
3,217
3,000
3,580
165
174
172
187
206
252
220
334
456
1,512
1,781
2,338
3,370
3,626
3,634
1
1
2
4
3
3
171
183
172
179
182
237
249
342
492
560
211
361
191
094
667
188
162
183
182
235
237
250
324
487
2,299
2,387
2,494
3,611
3,162
3,832
166
179
206
180
215
203
270
331
550
2,117
1,746
2,118
3,192
3,038
4,000
209
187
167
194
203
229
276
346
588
150
191
162
228
215
200
288
350
520
170
201
155
182
211
234
293
352
703
176
178
160
213
218
221
314
387
700
2,063
2,306
1,990
2,563
3,734
3,229
2,887
4,199
4,692
2,274
2,008
2,860
3,266
3,257
4,949
2,200
1,354
3,415
3,194
2,515
2,716
3,436
3,307
5,662
173
173
173
210
223
231
286
390
787
2,281
2,320
2,834
3,386
3,347
6,050
170
191
172
199
207
233
335
406
942
2,308
2,140
2,968
3,410
3,489
5,351
192
154
179
198
238
256
335
416
972
2,335
2,360
3,051
3,233
3,588
6,502
498
519
529
558
596
715
688
1,008
1,410
4,239
6,072
7,174
10,778
9,720
10,881
616. IMPORTS OF AUTOMOBILES AND PARTS3
(MILLIONS OF DOLLARS)
563
528
556
556
653
669
796
1,001
1,625
6,479
5,487
7,175
10,537
9,429
12,031
496
570
477
623
644
655
895
1,089
1,923
535
518
524
607
668
720
956
1,212
2,701
2,092
6,780
6,924
6,820
8,853
10,029
10,424
17,903
24,270
24,814
31,798
41,526
39,104
56,046
6,513
8,463
10,117
9,758
15,303
2,127
2,086
2,343
2,560
2,764
3,323
4,300
7,614
TOTAL FOR PERIOD
1948. . .
1949. . .
1950. . .
1951. . .
1952 . . .
1953. . .
1954. . .
1956. . .
1958 .
1959. . .
1961 . . .
1962 . . .
1963 . . .
1964. . .
1965. . .
1966. . .
1967. ..
1968. ..
1969.. .
1970. ..
1971...
1972. . .
1973. . .
1974. . .
1975. . .
1976...
1977. . .
1978.. .
1979.. .
1980...
31
106
176
299
293
417
482
589
780
862
742
1,085
1,083
1,529
1,963
54
114
161
273
315
404
541
662
731
877
654
1,041
1,248
1,661
1,706
61
125
169
229
325
404
561
680
753
797
823
1,117
1,299
1,581
1,589
89
108
159
260
399
457
533
647
725
898
776
1,221
1,266
1,715
1,956
54
113
184
329
392
388
529
680
814
901
731
976
1,183
1,659
1,851
This series contains revisions beginning with 1977.
This series contains revisions beginning with 1978.
59
123
197
292
383
428
576
636
821
841
782
1,169
1,360
1,684
1,730
64
130
201
314
391
419
525
602
806
928
879
1,025
1,315
1,812
1,815
49
146
183
294
401
332
660
699
749
859
938
1,055
1,328
1,666
2,113
74
157
176
334
438
498
672
622
722
912
861
1,238
1,428
1,822
1,849
84
139
206
346
443
446
549
681
858
809
888
871
1,426
1,872
1,805
This series contains revisions beginning with 1976.
93
144
211
371
421
438
579
768
840
812
873
1,128
1,465
1,875
1,984
95
213
231
365
428
426
642
694
631
814
1,013
1,221
1,479
1,822
1,871
146
345
506
801
933
1,225
1,584
1,931
2,264
2,536
2,219
3,243
3,630
4,771
5,258
202
344
540
881
1,174
1,273
1,638
1,963
2,360
2,640
2,289
3,366
3,809
5,058
5,537
187
433
560
942
1,230
1,249
1,857
1,923
272
496
648
1,082
1,292
1,310
1,770
2,143
2,277
2,699
2,678
2,329
2,435
2,774
3,220
4,370
5,569
5,660
3,318
4,071
5,300
5,777
807
1,618
2,254
3,706
4,629
5,057
6,849
7,960
9,230
10,310
9,960
13,147
15,880
20,698
22,232
(AUGUST 1980)
105
G. Experimental Data and Analyses
(Nov.)
P
Year
and
quarter
Unit labor cost,
all persons, nonfarm
business sector 1
Implicit price
deflator, gross
nonfarm business
product 1
(Index: 1967=100)
Ill Q..
IV Q . . .
111 111 111 rm\ i N 111 111
Components of BCD series
(Index: 1967=100)
1978
I Q....
II Q . . .
(Mar.)
T
180.2
184.7
187.8
191.4
190.2
192.8
195.6
199.3
195.1
200.3
204.7
208.4
206.0
212.1
217.3
221.8
213.7
r220.5
228.2
r235.8
Implicit price deflator,
business product, Q
(index: 1967 = 100)
1979
I Q....
II Q . . .
Ill Q . .
IV Q . . .
1980
I Q....
II Q . . .
Ill Q . .
IV Q . . .
Unit labor cost, all
business sector, Q
(index: 1967 = 100)
Inventory-sales ratios in 1972 dollars 2
Year
and
month
Manufacturing
(Ratio)
Merchant
wholesalers
(Ratio)
Retail trade
(Ratio)
1979
1.33
Jan.
Feb.
Mar.
Apr.
May.
June
1.76
1.78
1.72
1.86
1.78
1.84
1.30
1.33
1.30
1.31
1.39
1.38
1.38
1.41
1.42
1.45
July
Aug.
Sept
Oct.
Nov.
Dec.
1.84
1.86
1.87
1.87
1.91
1.90
1.31
1.31
1.31
1.30
1.29
1.30
1.46
1.42
T.37
1.41
1 .40
1.37
.35
Merchant wholesalers
1980
Jan.
Feb.
Mar.
Apr.
May.
June
1.87
1.88
1.92
2.06
r2.09
p2.11
1.27
1.37
1.32
1.39
pi. 38
1.34
1.35
1.38
1.42
1.43
pi. 41
July
Aug.
Sept
Oct.
Nov.
Dec.
(NA)
(NA)
(NA)
.29
111 111 n i n t in in in
1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980
iMUlh: The "r" indicates revised; "p", preliminary; and " N A " , not available.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
106
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Basic data
Series title
(and u n i t of measure)
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
3. Layoff rate, manufacturing 1
(per 100 employees)
8. New orders for consumer goods and materials
in 1972 dollars ( b i l l i o n dollars)
32. Vendor performance, companies reporting
slower deliveries (percent)
. . .
. . . .
12. Net business formation
(index: 1967-100)
20. Contracts and orders for p l a n t and equipment
in 1972 dollars ( b i l l i o n d o l l a r s )
29. New b u i l d i n g permits, private housing
u n i t s (index: 1967=100) .
36. Change in inventories2 on hand and on order in
1972 do!., smoothed ( a n n . rate, b i l . dol . ) .
92. Change in sensitive prices, smoothed 2
(percent)
19. Stock prices, 500 common stocks
( i n d e x - 1941-43=10) . .
.
. .
. . .
104. Change in total l i q u i d assets, smoothed 2
(percent) . .
. . . .
106. Money supply (M2) in 1972 dollars
( b i l l i o n dollars)
.
.
. . . .
910. Composite index of 12 leading indicators 3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on n o n a g r i c u l t u r a l payrolls
(thousands)
.
.
. .
. . . .
51. Personal income less transfers in 1972
dollars ( a n n u a l rate, b i l l i o n d o l l a r s ) . . . .
47. I n d u s t r i a l production, total
(index: 1967=100)
57. M a n u f a c t u r i n g and trade sales in 1972
dollars ( m i l l i o n d o l l a r s )
920. Composite index
of 4 roughly coincident
indicators 3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment 1
(weeks )
70. M a n u f a c t u r i n g and trade inventories, total,
in 1972 dollars ( b i l l i o n d o l l a r s )
62. Labor cost per u n i t of output, manufacturing
(index: 1967=100)
109. Average prime rate charged by banks
(percent)
72. Commercial and industrial loans outstanding
(mi 1 1 ion dol 1 ars )
95. Ratio, consumer installment debt to
personal income (percent)
930. Composite index of 6 l a g g i n g indicators 3
(index: 1967=100)
Apr.
1980
May
1980
39.8
Net contribution to index
39.3
Apr.
to
May
1980
July
1980
June
1980
39.1
P39.1
May
to
June
1980
June
to
July
1980
-0.42
-0.19
0.0
-0.60
0.65
1.44
2.9
3.5
r2.9
pi. 7
30.43
29.03
r29.07
p32.10
-0.25
0.01
0.62
40
32
28
32
-0.28
-0.15
0.17
r!22.5
e!20.3
NA
NA
-0.26
12.98
rll.53
r!2.62
p!2.72
-0.27
87.1
63.7
66.6
r-6.32
r-5.76
p-11.28
r.1.09
-0.12
r-0.45
102.97
107.69
0.73
0.66
r800.5
99.8
0.13
NA
NA
0.23
0.02
0.86
0.48
NA
0.04
-0.38
0.29
-0.51
-0.15
0.37
114.55
119.83
0.27
0.41
0.33
rO.61
60.68
-0.22
-0.17
0.27
800.0
r804.0
p815.3
-0.02
0.21
0.65
r!26.1
r!23.2
r!25.0
p!30.7
-2.30
1.46
4.56
90,951
r90,468
r89,973
p89,735
rl,010.4
1,006.1
rl, 005.0
r!48.2
r!44.3
150,625
r!40.5
11.3
NA
-0.42
-0.43
-0.27
p i , 001.1
-0.21
-0.05
-0.25
r!41.0
p!38.8
-0.73
-0.63
-0.56
r!46,972
p!47,014
NA
-0.53
0.01
r!37.6
r!35.9
p!34.2
11.7
11.6
10.5
258.72
r257.99
P257.64
NA
r!90.6
r!94.4
r!98.2
P200.9
19.77
16.57
12.63
162,280
159,033
14.78
r!96.1
-2.06
-1.24
0.46
-0.67
-0.13
-0.06
0.62
0.61
-7.66
NA
-1.25
0.08
NA
0.64
-3.35
11.48
-6.22
rl59,211
160,318
-0.44
0.02
14.57
p!4.33
NA
-0.72
-0.83
NA
r!83.6
r!68.2
p!63.9
-6.37
-8.39
-2.56
0.23
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the March 1979 BUSINESS CONDITIONS DIGEST (pp. 106107) for weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.099; for the coincident index, -0.164; for the lagging index, -0.170.
2
This
3
107
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns
Devi-
41. Employees on nonagricultural
payrolls
ations
from
Actual
data
for
reference
peaks
current
cycle
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM ACTUAL
PEAK
1/80
DATA YEAR
• 94,000
90283
90441
90552
90678
9/79
10/79
11/79
12/79
0
0. P 91031
1/80
1
2
3
4
0.2
0.1
-0.1
-0.6
91186
91144
90951
90468
2/80
3/80
4/80
5/80
-1.2
-1.4
89973
89735
6/80
7/80
+2
• 92,000
Actual
data
(percent)
SERIES 41
THOUSANDS
-4
-3
-2
-1
+4
90. Ratio, civilian employment to total
population of working age
-0.8
-0.6
-0.5
-0.4
MONTHS
FROM
REF.
PEAK
60
59
58
57
CURRENT MONTH
AND
ACTUAL
DATA YEAR
SERIES 90
PERCENT
• 90,000
-2
• 88,000
56
59.42
59.27
59.27
59.38
9/79
10/79
11/79
12/79
59.24
1/80
59.26
59.00
58.63
58.47
2/80
3/80
4/80
5/80
58.12
58.29
6/80
7/80
55
1957
-I 54
92. Change in sensitive prices,
smoothed x
Actual
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
1/80
DATA YEAR
51. Personal income, less transfer
payments, in 1972 dollars
we]
+10
• 1125
4
3
2
1
+5
• 1075
• 1050
• 1025
SERIES
51
ANN. RATE
BIL. DOL.
-1 .1 1019 .5
9/79
-0 .7 1023 .5 10/79
0 .0 1030 .6 11/79
0 .3 1033 .2 12/79
0 . P 1030 .5
1/80
1
2
3
4
-0 .6
-1 .3
-2 .0
-2 .4
1024 .8
1017 .5
1010 .4
1006 .1
2/80
3/80
4/80
5/80
5
6
-2 .5
-2 .9
1005 .0
1001 .1
6/80
7/80
0
• 1100
MONTHS
FROM
REF.
PEAK
-6
0
-1-6
+12 +18 +24
• 975
+3
+2
+1
SERIES 92 *
PERCENT
9/79
10/79
11/79
12/79
2.43
1/80
2.74
2.35
1.09
-0.12
2/80
3/80
4/80
5/80
-0.45
0.29
6/80
7/80
+30 +36
Months from reference peaks
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the July 1980 issue.
x
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
http://fraser.stlouisfed.org/
108
Federal Reserve Bank of St. Louis
+4
CURRENT MONTH
AND
ACTUAL
DATA YEAR
• 1000
-5
I
-1
-2
-6
0
+6
+12 +18 +24 +30 +36
Months from reference peaks
+5
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns-Continued
36. Net change in inventories on hand
and on order, smoothed 1
data
(percent)
MONTHS
FROM
REF.
PEAK
CURRENT MONTH
ACTUAL
AND
DATA YEAR
V
-5
72. Commercial and industrial loans
outstanding
SERIES 36 *
ANN. RATE
BIL. DOL.
15.25
8/79
8.90
-2.88
-9.54
-10.12
+30
Deviations
from
reference
peaks
• 195,000
+20
-9.77
1/80
+ 15
+ 10
2/80
3/80
4/80
5/80
-11.28
6/80
+10
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
DATA YEAR
1/80
+5
-20
• 180,000
0
0. P
• 165,000
o
SERIES 72
MIL. DOL
-2.0
-3.1
-2.9
cycle
+25
-11.98
-10.87
-6.32
-5.76
3
2
1
, for
current
Percent
9/79
10/79
11/79
12/79
+ 20
-10
Actual
data
155971
154213
154592
10/79
11/79
12/79
159215
1/80
-5
• 150,000
-10
-30
-40
1
2
3
4
1.9
1.8
1.9
-0.1
162201
162074
162280
159033
2/80
3/80
4/80
5/80
5
6
7
-0.0
0.7
2.2
159211
160318
162682
6/80
7/80
8/80
MONTHS
FROM
REF.
PEAK
104. Change in total liquid assets,
smoothed 1
CURRENT MONTH
ACTUAL
AND
DATA YEAR
""15
•135,000
77. Ratio, deflated inventories to sales,
mfg. and trade
551
SERIES 1041
PERCENT
+ 1.2
+1.0
+ 0.8
+ 0.6
+ 0.4
MONTHS
FROM
REF.
PEAK
0.99
0.95
0.81
0.60
9/79
10/79
11/79
12/79
0.52
1/80
0.66
0.76
0.73
0.66
2/80
3/80
4/80
5/80
0.61
0.68
6/80
7/80
1.75
1.70
1.65
CURRENT MONTH
ACTUAL
AND
DATA YEAR
SERIES 77
RATIO
1.60
1.62
8/79
1.62
9/79
10/79
11/79
12/79
1.76
2/80
3/80
4/80
5/80
+0.2
1.55
1/80
0.0
1.50
6/80
-6
0
+6
+12 +18 +24 +30 +36
Months from reference peaks
-6
0
+6
+12
+18 +24 +30 +36
Months from reference peaks
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the July 1980 issue.
1
'Thfs series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
109
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
descriptions
data
(issue date) issue date)
A
Accession rate, manufacturing
Agricultural products exports
Anticipations and intentions
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl . .
Consumer sentiment, index
Employees manufacturing and trade Dl
Inventories, manufacturing and trade, Dl
New orders manufacturing Dl
Prices, selling, manufacturing, Dl
Prices selling retail trade Dl
Prices, selling, wholesale trade, Dl
Profits, net, manufacturing and trade, Dl
Sales, net, manufacturing and trade, Dl
Automobiles
Expenditures, personal consumption
Imports of automobiles and parts
2
604
16
56
61
92
8/80
8/80
8/68
2/79
2/79
8/80
2/79
2/79
2/79
2/79
2/79
2/79
2/79
2/79
11/68
38
38
38
38
38
38
38
38
67
76
65
76
76
76
76
76
76
76
76
22
56
65
92
9/79
8/80
10/69*
61
970
58
974
975
971
976
978
977
972
973
24
38
22
55
616
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
B
Balance of payments-See International transactions.
Bank loans to businesses, loans outstanding
Bank loans to businesses, net change
Bank rates-See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from Federal Reserve
Bonds-See Interest rates.
Borrowing-See Credit.
Budget-See Government.
Building— See Construction.
Building permits, new private housing
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl . . . .
Business formation
Business incorporations
Business inventories-See Inventories.
Business loans-See Bank loans.
Business saving
72
112
15,35
32
73
72
6/79
6/79
11/72
11/72
93
94
33
33
72
72
12/78
8/79
11/72
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
8/80
1/80
2/79
2/79
2/79
3/80
3/80
295
46
82
11/79
83
82
84
20
20
20
64
64
64
9/79
9/79
9/79
97
11
965
24
24
37
66
66
75
8/79
8/79
2/79
914
35
34
11
29
29
60
70
70
3/79
9/79
9/79
4/69
il/68
11/68*
C
Canada-See International comparisons.
Capacity utilization
Manufacturing (BEA)
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
Newly approved
Newly approved, Dl
Capital investment-See Investment, capital.
Capital investment commitments, Cl
Cash flow, corporate, constant dollars
Cash flow, corporate, current dollars
Civilian labor force-See also Employment.
Employment
Employment as percent of population
Total
Unemployed
Coincident indicators, four
Composite index
Composite index, rate of change
Diffusion index
Ratio to lagging indicators, composite index
Commercial and industrial buildings, contracts awarded . .
Commercial and industrial loans outstanding
Commercial and industrial loans outstanding, net change .
Compensation
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees
Compensation of employees, percent of national
income
Compensation, real average hourly, all employees,
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
private nonfarm economy percent changes
Earnings, real average hourly, production
workers private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes .
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries, mining, manufacturing, and
construction
1/72'
1/72
3/80
2/80
3/80
2/80
4/72*
7/80
7/80
6/79
3/79
8/79
6/79
6/79
11/75*
442
90
441
37
51
18
51
18,51
89
62
89
920
920c
951
940
9
72
112
10
39
36
11
23
15,35
32
60
74'"
60
66
73
72
345
49
87
345c
280
50
45
87
82
11/79
10/72*
10/69
9/79
10/69*
62,89
4/72*
4/72*
11/72
11/72
10/72*
64
30,47
70,83
346
49
88
346c
50
88
340
49
87
2/80
6/72*
340c
50
87
2/80
6/72*
341
49
87
2/80
6/72*
341 c
348
349
50
50
50
87
88
88
2/80
11/79
11/79
6/72*
6/72*
6/72*
53
19
63
4/80
10/72*
10/72*
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Composite indexes
Coincident indicators
Four coinciders
Four coinciders, rate of change
Ratio to lagging indicator index
Lagging indicators
Six laggers
... .
....
Six laggers rate of change
Leading indicators
Capital investment commitments
Inventory investment and purchasing
Marginal employment adjustments
Money and financial flows
Profitability
Twelve leaders
Twelve leaders, rate of change
Construction
Building permits, new private housing
Contracts awarded, commercial and industrial bldgs. . .
Expenditures, plus machinery and equipment sales . . . .
Gross private domestic fixed investment
Nonresidential, as percent of GNP
Nonresidential structures, constant dollars
Nonresidential, total, constant dollars
Residential as percent of GNP
Residential total constant dollars
Housing starts
Consumer finished goods-See Wholesale prices.
Consumer goods and materials, new orders
Consumer goods, industrial production
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Consumer prices-See also International comparisons.
All items index
All items, percent changes
Food, index .
Food percent changes
Consumer sentiment, index
Consumption expenditures-See Personal consumption
expenditures.
Contracts and orders, plant and equipment, constant dol. .
Contracts and orders, plant and equipment, current dol. . .
Corporate bond yields
Corporate profits-See Profits.
Costs-See Labor costs and Price indexes.
Credit
Bank loans to businesses, net change
Borrowing, total private
Commercial and industrial loans outstanding
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Mortgage debt net change
Crude materials-See Wholesale prices.
Charts
Tables
920
920c
940
10
39
11
60
930
930c
10
39
914
915
913
917
916
910
Series
Historical
data
descriptions
(issue date) issue date)
7/80
7/80
3/79
11/75*
60
7/80
7/80
11/75*
60
60
60
60
60
60
910c
11
11
11
11
11
10
39
3/79
3/79
3/79
3/79
9/79
7/80
7/80
29
9
69
13,25
23
24
67
66
67
8/80
8/79
8/80
4/69
248
87
86
249
89
28
47
25
25
47
25
25
83
67
67
83
67
67
11/79
9/79
9/79
11/79
9/79
3/80
10/69*
8
75
12,21
22
64
65
7/80
12/79
66
113
95
39
35
32
15,35
33
73
72
73
72
5/79
6/79
8/79
2/79
10/72
10/72
320
320c
322
322c
58
49
49,59
84,95
84,95
49
49
22
84
84
65
5/80
5/80
5/80
5/80
8/80
5/69*
5/69*
5/69*
5/69*
11/68*
20
10
116
12,23
23
34
66
66
73
7/80
7/80
1/79
9/68'
7/64
112
110
72
32
32
15,35
72
72
73
6/79
11/79
6/79
11/72
7/64
11/72
66
113
95
39
33
35
32
15,35
33
32
73
72
73
72
71
5/79
6/79
8/79
2/79
4/80
10/72
10/72
525
564
548
517
53
55
53
53
90
91
90
90
5/80
10/79
8/80
5/80
39
32
33
12,21
72
64
2/79
8/79
11/72
12/74
970
965
951
974
963
967
38
37
36
38
36
37
2/79
2/79
6/79
2/79
1/80
5/80
11/68*
966
37
962
975
952
950
964
36
38
36
36
37
971
968
976
978
977
960
972
973
961
38
37
38
38
38
37
38
38
36
76
75
74
76
74
75
79
75
78
74
76
74
74
75
77
76
75
76
76
76
75
76
76
74
77
60'"
5/75*
9/68*
10/69*
6/72
11/72
ii/72
D
Debt-See Credit.
Defense
Military prime contract awards
National defense purchases
New orders, defense products
Obligations incurred
Deficit-See Government.
Deflators-See Price indexes.
Delinquency rate, consumer installment loans
Deliveries, vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees manufacturing and trade
Employees on private nonagricultural payrolls
Industrial materials prices
Industrial materials prices components
Industrial production
Industrial production, components
Initial claims State unemployment insurance
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders durable goods industries
New orders, durable goods industries, components ....
New orders, manufacturing
Prices 500 common stocks
Prices, selling, manufacturing
Prices, selling, retail trade
Prices selling wholesale trade
Profits, manufacturing
Profits net manufacturing and trade
Sales, net, manufacturing and trade
Workweek, mfg production workers
Workweek, mfg. production workers, components ....
Disposable personal income-See Income.
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion indi x; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
http://fraser.stlouisfed.org/
110
Federal Reserve Bank of St. Louis
Current issue
(page numbers)
Series
number
10/69*
li/68*
4/69*
9/79
6/78"
2/79
6/79
6/79
1/80
6/69*
11/68*
2/79
9/79
2/79
2/79
2/79
10/79
2/79
2/79
1/80
11/68*
5/69*
11/68*
11/68*
11/68*
il/68*
11/68*
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
descriptions
data
(issue date) issue date)
E
Earnings— See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Employee hours in nonagricultural
establishments
Employee hours in nonagricultural
establishments, rate of change
Employees in mining, mfg., and construction
Employees, manufacturing and trade, Dl
Employees on nonagricultural payrolls
Employees on private nonag. payrolls, Dl
Employment, ratio to population
Employment, total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments, Cl
Overtime hours, mfg. production workers
Participation rate, both sexes, 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed, full-time workers
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 1 5 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, mfg. production workers
Workweek, mfg. production workers, components . . . .
Workweek mfg production workers Dl
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.
2
441
16
51
61
89
8/80
3/80
48
17
61
1/80
48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
39
17
38
14,17
36
18
51
17
17
16
36
12,16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16
961
36*"
62
76
62
74
62
89
61
61
61
74
61
60
61
89
89
89
89
62
61
89
89
89
89
62
62
62
62
62,89
61
77
74
1/80
2/80
2/79
2/80
1/80
2/80
3/80
7/79
2/80
7/80
6/78
8/80
3/79
8/80
3/80
3/80
3/80
3/80
2/80
8/80
3/80
3/80
3/80
3/80
3/80
2/80
8/80
2/80
2/80
8/80
1/80
F
Federal funds rate
Federal Government-See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, and money, Cl
Fixed investment-See Investment, capital.
Fixed weighted price index, NIPA
Fixed weighted price index, percent changes, NIPA
Food-See Consumer prices.
Foreign trade-See also International transactions.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports, merchandise, total exc. military aid
Exports of agricultural products
Exports of goods and services, constant dol., NIPA ....
Exports of goods and services, current dol., NIPA
Exports of goods and services, exc. military
mports, merchandise, adjusted, exc. military
mports merchandise total
mports of automobiles and parts
mports of goods and services, constant dol., NIPA . . . .
mports of goods and services, current dol., NIPA
mports of goods and services, total
mports of petroleum and products
Net exports, goods and services, constant dol., NIPA
Net exports, goods and services, current dol., NIPA ...
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves
119
34
72
1/79
94
213
917
33
40
11
72
80
60
8/79
10/79
3/79
311
311c
48
48
84
84
11/79
11/79
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
255
250
251
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
44
44
47
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
82
82
83
7/80
7/80
7/80
12/78
12/78
11/79
11/79
7/80
12/78
7/80
12/78
12/78
11/79
11/79
7/80
3/80
11/79
11/79
11/79
93
33
72
12/78
49
20
63
9/79
502
501
500
512
511
510
298
52
52
52
52
52
52
46
90
90
90
90
90
90
83
9/79
9/79
9/79
10/79
10/79
10/79
11/79
263
262
265
564
267
266
268
261
260
43
43
47
55
43
43
47
43
43
81
81
83
91
81
81
83
81
81
11/79
11/79
11/79
10/79
11/79
11/79
11/79
11/79
11/79
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal, constant dollars
Federal, current dollars
Federal, percent of GNP
National defense
State and local, constant dollars
State and local current dollars
State and local, percent of G NP
Total constant dollars
Total, current dollars
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Gross business product
Fixed weighted price index
Fixed weighted price index, percent changes . . . . . . . . .
Gross domestic product labor cost per unit
Gross
national product
8/68
GNP, constant dollars
4/72*
GNP constant dollars differences
GNP, constant dollars, percent changes
8/68*
GNP current dollars
8/68*
GNP current dollars differences
GNP, current dollars, percent changes
11/68*
GNP ratio to money supply
. .....
8/68
Goods output in constant dollars
Implicit price deflator
.
Implicit price deflator, percent changes
4/72*
Per capita GNP, constant dollars
12/74
Gross private domestic invest. -See Investment, capital.
6/69"
6/69*
8/68*
12/74
4/72*
Current issue
(page numbers)
Series
number
Charts
Tables
Series
Historical
descriptions
data
(issue date) issue date)
11/79
311
311c
68
48
48
30
84
84
70
11/79
9/79
50
50b
50c
200
200b
200c
107
49
310
310c
217
19,40
10/79
10/79
10/79
10/79
10/79
10/79
7/80
9/79
11/79
11/79
10/79
10/69*
10/69*
10/69*
10/69
10/69
10/69
31
20
48
48
40
63,80
80
80
80
80
80
71
63
84
84
80
46
60
17
17
61
61
8/80
8/80
12/74
21
1
16
12,16
2/80
2/80
12/74
8/68
39
40
7/68'
10/69*
10/69*
10/69
H
Help-wanted advertising in newspapers
Help-wanted advertising ratio to unemployment
Hours of production workers, manufacturing
Average weekly overtime
.
Average workweek
Average workweek components
Average workweek Dl
Housing
Housing starts
.
Housing units authorized by local bldg permits
Residential GPDI, constant dollars
Residential GPDI percent of GNP
961
36
61
61
77
74
28
29
89
249
25
13,25
25
47
67
67
67
83
3/80
8/80
9/79
11/79
6/72
4/69
310
310c
48
48
84
84
11/79
11/79
10/69*
10/69*
345
49
87
345c
280
64
50
45
30,47
87
82
70,83
346
49
88
346c
95
286
287
225
224
227
50
15,35
45
47
40
40
40
88
73
82
83
80
80
80
8/79
11/79
11/79
10/79
10/79
10/79
10/69
10/69*
10/69
10/69
10/69
340
49
87
2/80
6/72*
340c
50
87
2/80
6/72*
341
49
87
2/80
6/72*
341 c
652
651
288
289
220
52
223
51
51c
108
282
50
57
57
45
47
45
19
40
14,19
39
31
45
87
93
93
82
83
82
63
63
63
2/80
7/80
7/80
11/79
11/79
10/79
2/80
1/80
2/80
7/79
6/80
11/79
6/72*
5/69*
5/69*
10/69
10/69*
10/69
283
284
285
348
349
53
13
23
47
45
47
50
50
19
23
28
83
82
83
88
88
63
65
69
79
75
11/79
11/79
11/79
11/79
11/79
4/80
3/80
5/80
10/69*
10/69
10/69*
6/72*
6/72*
5/80
4/69*
67
65
63
63
63,94
78
75
1/80
12/79
12/79
12/79
12/79
11/68
1/80
10/69*
1
4/72*
6/69
4/72
4/72*
8/68
Implicit price deflator GNP
Implicit price deflator, GNP, percent changes
Imports-See Foreign trade and International transactions.
Income
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees .
Compensation of employees, pet. of nat'l. income ....
Compensation, real average hourly, all employees,
11/73
nonfarm business sector
. .
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Consumer installment debt, ratio to personal income . .
Corporate profits with 1 VA and CCA
Corp. profits with IVA and CCA, pet. of nat'l. income .
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita, constant dol. . .
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
5/69*
private nonfarm economy, percent changes
5/69*
Earnings, real average hourly, production
workers private nonfarm economy
Earnings, real average hourly, production
5/69*
workers, private nonfarm economy, percent changes .
5/69*
Income on foreign investment in the U S
Income on U.S. investments abroad
5/69*
Interest net
5/69*
Interest, net, percent of national income
National income
Personal income, constant dollars
5/69
Personal income current dollars
5/69*
Personal income, less transfers, constant dollars
Personal income, less transfers, constant dols. rate of chg.
Personal income, ratio to money supply
5/69
Proprietors' income with IVA and CCA
10/69*
Proprietors' income with IVA and CCA, percent
of national income
11/72
Rental income of persons with CCA
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions first year
Wage and benefit decisions, life of contract
Wages and salaries, mining, mfg., and construction
Incorporations new businesses
7/68*
Industrial materials prices
7/68*
Industrial materials prices components
7/68*
Industrial materials prices Dl
Industrial production - See also International comparisons.
Business equipment
Consumer goods
10/69
Durable manufactures
Nondurable manufactures
11/73
Total
10/69
Total components
10/69*
Total Dl
10/69*
Total rate of change
11/73
Installment debt-See Credit.
10/69
Insured unemployment
10/69*
Avg. weekly initial claims, unernploy. insurance ......
Avg. weekly initial claims, unemploy. insurance, Dl . . .
Avg weekly insured unemployment rate
10/69
967
76
75
73
74
47
37
24
22
20
20
14,20,58
966
47c
37
39
5
962
45
16
36
18
71
82
61
74
62
10/72*
11/79
9/79
10/72*
10/69
10/69*
10/72*
10/72*
7/68*
10/69
4/69
9/79'
12/79
7/80
6/78
8/80
6/69
6/69*
6/69
NOTE: The following abbreviations are used in this index: C I, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
111
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Interest, net
Interest net percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
Intermediate materials-See Wholesale prices.
International comparisons
Consumer prices
Canada, index
Canada, percent changes
France, index
France, percent changes
Italy, index
Italy, percent changes
Japan index
Japan, percent changes
United Kingdom index
United Kingdom, percent changes
United States index
United States, percent changes
West Germany, index
West Germany, percent changes
Industrial production
Canada
France
Italy
Japan
OECD European countries
United Kingdom
United States
West Germany
Stock prices
Canada
France
Italy
Japan
United Kingdom
United States
West Germany
International transactions-See also Foreign trade.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports, merchandise, total exc. military aid
Exports of agricultural products
Exports of goods and services, exc. military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports merchandise total
Imports of automobiles and parts
Imports of goods and services total
Imports of petroleum and products
Income on foreign investments in U S
Income on U.S. investments abroad
Inventories
Business inventories change constant dollars
Business inventories, change, current dollars . . ..
Business inventories, change, percent of GNP
Finished goods manufacturers'
Inventories on hand and on order, net change
Inventories to sales ratio, mfg. and trade (deflated) . . . .
Inventory investment and purchasing Cl
Manufacturing and trade, constant dollars
Manufacturing and trade, current dollars
Manufacturing and trade, current dollars, change
Manufacturing and trade, Dl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.,
change
Investment, capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl
Capita! investment commitments, Cl
Construction contracts, commercial and industrial
Construction expenditures, business and machinery
and equipment sales
Gross private domestic investment
Fixed investment, constant dollars
Fixed investment current dollars
Inventories, business, change in-See Inventories.
Nonresidential, total constant dollars
Nonresidential total percent of GNP
Producers' durable equip., nonresid., constant dol.
Residential total constant dollars
Residential, total, percent of GNP
Structures nonresidential constant dollars
Total, constant dollars
Total, current dollars
New orders, capital goods, nondefense, constant
dollars
.
.
. . .
New orders, capital goods, nondefense, current
dollars
Current issue
(page numbers)
Series
number
Charts
288
289
67
116
119
118
117
109
114
115
45
47
35
34
34
34
34
35
34
34
Tables
Series
Historical
descriptions
data
[issue date) issue date)
82
83
11/79
11/79
10/69
10/69*
73
73
72
73
73
73
72
73
8/79
1/79
1/79
3/80
1/79
1/79
1/79
1/79
12/74
7/64
11/73
7/64
7/64
11/73
7/64
7/64
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Plant and equipment
Business expenditures new
Business expenditures new Dl
Contracts and orders constant dollars
Contracts and orders current dollars
Investment, foreign
Income on foreign investments in U.S
Income on U S investments abroad
Italy-See International comparisons.
Charts
Tables
Historical
Series
descriptions
data
(issue date) issue date)
61
970
20
10
24
38
12,23
23
67
76
66
66
2/79
2/79
7/80
7/80
9/68
652
651
57
57
93
93
7/80
7/80
5/69*
5/69*
68
62
63
26
30
15,30
30
29
70
70
70
70
9/79
12/79
7/80
7/80
7/68
11/68
10/72
930
930c
952
3
10
39
36
12,16
60
7/80
7/80
6/79
8/80
11/75*
910
910c
950
14
104
10
39
36
33
13,31
60
74'"
72
71
7/80
7/80
6/79
2/79
6/80
913
78
11
27
60
68
3/79
8/80
38
26
68
8/80
8
84
12,21
20
64
64
7/80
9/79
917
11
60
3/79
104
105
85
106
102
107
108
33
118
117
13,31
31
31
13,31
31
31
31
32
34
34
71
71
71
71
71
71
71
71
73
73
6/80
6/80
6/80
6/80
6/80
7/80
6/80
4/80
3/80
1/79
National defense-See Defense.
National Government-See Government.
National income-See Income.
New orders, manufacturers'
27
Capital goods industries, nondefense, constant dol
Capital goods industries, nondefense, current dol
24
Consumer goods and materials, constant dollars
8
Contracts
and
orders,
plant
and
equip.,
constant
dol.
.
.
20
2/69
Contracts and orders, plant and equip., current dol. . . . 10
2/69
548
Defense products
11/68*
7
Durable goods industries constant dollars
6
Durable goods industries, current dollars
23
23
12,21
12,23
23
53
21
21
1/80
2/79
ii/68*
10/69*
11/68
11/68*
J
Japan-See International comparisons.
59'"
96
96
95
95
96
96
95
95
95
95
84,95
84,95
95
95
723
726
111
728
721
111
47
725
58
58
58
58
58
58
14,20,58
58
94
94
94
94
94
94
63,94
94
3/80
2/79
2/79
2/79
2/79
2/79
12/79
2/79
743
746
747
748
742
19
745
59
59
59
59
59
59
59
96
96
96
96
96
96
96
6/79
6/79
6/79
6/79
6/79
6/79
6/79
667
622
618
602
604
668
606
620
612
616
669
614
652
651
57
57
57
56
56
57
56
57
56
56
57
56
57
57
93
93
93
92
92
93
92
93
92
92
93
92
93
93
7/80
7/80
7/80
8/80
8/80
7/80
8/80
7/80
8/80
8/80
7/80
8/80
7/80
7/80
30
245
247
65
36
77
915
70
71
31
975
78
26,42
42
47
27
13,26
27
11
15,27
27
26
38
27
68,81
81
83
68
68
68
60
68
68
68
76
68
9/79
11/79
11/79
8/80
8/80
1/80
3/79
12/79
12/79
12/79
2/79
8/80
38
26
68
8/80
97
11
965
914
9
24
24
37
11
23
66
66
75
60
66
8/79
8/79
2/79
3/79
8/79
69
24
67
8/80
733
733c
736
736c
737
737c
738
738c
732
732c
320
320c
735
735c
59'"
59
59'"
59
59
49
49,59
1/79
1/79
7/79
7/79
1/79
1/79
1/79
1/79
1/79
1/79
5/80
5/80
1/79
1/79
9/72*
L
Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
Labor cost per unit of output, private business sector
Labor cost price per unit of nonfarm business
Labor force-See Employment and unemployment.
9/72*
Lagging indicators, six
9/72*
Composite index
Composite index, rate of change
Diffusion index
5/69*
Layoff rate manufacturing
5/69*
9/72*
Leading indicators, twelve
Composite index
Composite index rate of change
Diffusion index
10/72*
10/72* Liabilities of business failures
10/72* Liquid assets change in total
10/72* Loans-See Credit.
9/72*
9/72*
M
10/72*
11/68
10/72* Man-hours-See Employment and unemployment.
Marginal employment adjustments Cl
...
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.
change
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
Materials, new orders for consumer goods and
Materials, rate of capacity utilization
Merchandise trade-See Foreign trade.
Military-See Defense.
Money and financial flows Cl
5/69*
Money supply
5/69*
Liquid assets change in total
Money supply Ml
5/69*
Money supply Ml percent changes
Money supply M2
5/69*
Money supply M2 percent changes
Ratio GNP to money supply M 1
5/69*
Ratio personal income to money supply M2
Mortgage
debt net change
. ..
5/69*
Mortage yields secondary market
Municipal bond yields
5/69*
5/69*
N
74
61
8/68*
5/75*
10/72
10/72
7/64"
7/64
io/69
10/69*
9/68
Diffusion index
New orders manufacturing Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
Total, constant dollars
Total, percent of GNP
8/80
8/80
7/80
7/80
7/80
8/80
7/80
7/80
964
971
37
38
66
66
64
66
66
90
64
64
77
75
76
88
87
86
248
25
25
25
47
67
67
67
83
9/79
9/79
9/79
11/79
517
721
53
58
90
94
5/80
2/79
49
62
358
370
370c
83
82
84
21
20
15,30
50
50
50
20
20
20
16
63
70
88
88
88
64
64
64
61
9/79
12/79
9/68
9/68*
9/68'
9/68*
0
81
81
11/79
10/79
25
47
25
25
47
25
42
42
67
83
67
67
83
67
81
81
9/79
11/79
9/79
9/79
11/79
9/79
10/79
10/79
27
23
66
8/80
24
23
66
8/80
243
242
42
42
86
248
88
89
249
87
241
240
Obligations incurred Defense Department
OECD, European countries, industrial production
Orders-See New orders and Unfilled orders.
io/69* Output-See also Gross national product and
Industrial production.
Goods output, constant dollars
Labor cost per unit of
io/69*
Per hour nonfarm business sector
Per hour private business sector
10/69
Per hour, private business sector, percent changes
Ratio to capacity manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity materials
9/68
Overtime hours, production workers, manufacturing ....
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
112
Current issue
(page numbers)
Series
9/79"
9/79
9/79
8/80
ii/68
6/68*
10/72*
10/72*
i2/74
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
data
descriptions
(issue date) [issue date)
Reserves, free
Residential fixed investment, constant dollars, GPDI . . . .
Residential fixed investment, percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales, current dollars
P
Participation rates, civilian labor force
Both sexes 16-19 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
Durable goods constant dollars
Durable goods current dollars
Nondurable goods constant dollars
.
Nondurable goods, current dollars
Services, constant dollars
Services, current dollars
Total constant dollars
Total, current dollars
Total percent of GNP
Personal income-See Income.
Personal saving
Personal saving rate
'. .
. . . .
Petroleum and products, imports
Plant and equipment-See also Investment, capital.
Business expenditures for
Contracts and orders for, constant dollars
Contracts and orders for, current dollars
Population, civilian employment as percent of
Price indexes
Consumer prices-See also International comparisons.
All items index
All items, percent changes
Food, index
Food percent changes
Deflators, NIPA
Fixed weighted, gross business product, index
Fixed weighted, gross business product, pet. changes
Implicit price deflator, GNP, index
Implicit price deflator, GNP, percent changes
Industrial materials
Industrial materials components
Industrial materials, Dl
Labor cost, price per unit of
Sensitive prices, change in
Stock prices-See also International comparisons.
500 common stocks
500 common stocks, Dl
Wholesale prices
All commodities, index
All commodities, percent change
Consumer finished goods index
Consumer finished goods, percent changes
Crude materials index
Crude materials, percent changes
Intermediate materials, percent changes
Producer finished goods, index
Producer finished goods, percent changes
Price to unit labor cost, nonfarm business
Prices, selling
Manufacturing, Dl
Retail trade Dl
Wholesale trade, Dl
Prime contracts, military
Prime rate charged by banks
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDI
Production-See Industrial production and GNP.
Productivity
Output per hour, nonfarm business" sector
Output per hour private business sector
Output per hour, private business sector, pet. changes .
Profitability, Cl
Profits
Corporate, after taxes, constant dollars
Corporate, after taxes, current dollars
Corporate, after taxes, with I VA and CCA,
Corporate, after taxes, with I VA and CCA, cur. dol. . . .
Corporate with IVAand CCA
. .
Corporate, with IVA and CCA, pet. of nat'l. income . . .
Manufacturing and trade Dl
Manufacturing Dl
Per dollar of sales, manufacturing
Profitability, Cl
Ratio, profits to corporate domestic income
Ratio, profits with IVA and CCA to corporate domestic
income
Proprietors' income with IVA and CCA
Proprietors' income with IVA and CCA, pet. of nat'l. inc. .
453
452
451
51
51
51
89
89
89
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
9/79
10/79
10/79
10/79
• 10/79
10/79
10/79
10/79
10/79
10/79
292
293
614
46
46
56
82
83
92
11/79
11/79
8/80
10/69
7/68*
61
970
20
10
90
24
38
12,23
23
18
67
76
66
66
62
2/79
2/79
7/80
7/80
2/80
11/68
11/68*
320
320c
322
322c
49
49,59
49
49
84,95
84,95
84
84
5/80
5/80
5/80
5/80
5/69*
5/69*
5/69*
5/69*
311
311c
310
310c
23
48
48
48
48
28
11/79
11/79
11/79
11/79
5/80
10/69*
10/69*
4/69
967
26
92
37
29
13,28
84
84
84
84
69
79
75
70
69
5/80
7/80
4/80
4/69*
19
968
13,28
37
69
75
9/79
9/79
5/69
5/69*
330
330c
334
334c
331
331 c
332
332c
333
333c
26
48
48
48
48
48
48
48
48
48
48
29
85
85
86
86
85
85
86
86
86
86
70
6/80
6/80
5/80
5/80
6/80
6/80
6/80
6/80
6/80
6/80
11/79
6/69*
976
978
977
525
109
38
38
38
53
35
76
76
76
90
73
2/79
2/79
2/79
5/80
1/79
88
25
67
9/79
358
370
370c
916
50
50
50
11
88
88
88
60
9/79'
Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio
Initial claims, avg. weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, Dl . . .
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes, 16-19 years of age
Females, 20 years and over
Full-time workers
Males, 20 years and over
Total unemployed
11/68*
Quit rate, manufacturing
11/68*
Unemployment rates
11/68*
1 5 weeks and over
Insured, average weekly
11/73
Total
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries, change in
United Kingdom-See International comparisons.
6/68*
10/72*
10/72*
V
18
16
28
28
69
69
9/79
9/79
1/72
7/68
80
79
286
287
972
960
15
916
22
28
28
45
47
38
37
29
11
29
69
69
82
83
76
75
70
60
69
9/79
9/79
11/79
11/79
2/79
10/79
7/80
9/79
9/79
81
282
283
29
45
47
70
82
83
9/79
11/79
11/79
4
16
61
8/80
284
45
82
11/79
285
47
83
11/79
3/80
3/80
3/80
Q
Quit rate, manufacturing
R
Rental income of persons, with CCA
Rental income of persons, with CCA, percent of national
income
.
.
...
...
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
Charts
Tables
Series
Historical
descriptions
data
issue
date)
(issue date)
93
89
249
33
25
47
72
67
83
12/78
9/79
11/79
59
54
22
22
65
65
6/80
6/80
213
40
80
10/79
11/72
10/69*
6/72"
10/69*
10/69
S
10/69
Salaries-See Compensation.
Sales
Final sales, constant dollars
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales current dollars
Manufacturing and trade sales, Dl
Ratio, inventories to sales, mfg. and trade
Retail sales, constant dollars
Retail sales, current dollars
Saving
Business saving
Government surplus or deficit ,
Gross saving, private and government
Personal saving
Personal saving rate
Selling prices-See Prices, selling.
Sensitive prices, change in
State and local government-See Government.
Stock prices-See also International comparisons.
500 common stocks
500 common stocks, D 1
Stocks of materials and supplies on hand and on order . . .
Stocks of materials and supplies on hand and on order,
change
Surplus-See Government.
10/69
10/69
10/69
10/69*
9/68
24
14,22
22
38
27
22
22
67
65
65
76
68
65
65
8/80
1/80
1/80
2/79
1/80
6/80
6/80
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
11/79
11/7Q
11/79
11/79
11/79
92
13,28
69
4/80
19
968
78
13,28
37
27
69
75
68
9/79
9/79
8/80
38
26
68
8/80
114
115
34
34
72
73
1/79
1/79
7/64
7/64
91
60
5
962
3
15,18
17
16
36
12,16
62
61
61
74
61
3/80
2/80
7/80
6/78
8/80
6/69"
6/69*
8/68*
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
62,89
61
3/80
3/80
3/80
3/80
2/80
8/80
44
45
43
18
18
18
62
62
62
2/80
8/80
2/80
4/72
6/69
4/72
96
25
21
21
64
64
8/80
8/80
9/68
9/68
107
108
32
31
31
12,21
71
71
64
7/80
6/80
8/79
12/74
330
330c
334
334c
331
331 c
332
332c
333
333c
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
85
85
86
86
85
85
86
86
86
86
69
61
6/80
6/80
5/80
.5/80
6/80
6/80
6/80
6/80
6/80
6/80
4/80
8/80
961
36'"
77
74
1/80
9/68*
2/69'
11/68*
6/72*
10/69
10/69
10/69
7/68*
5/69
5/69*
T
Treasury bill rate
Treasury bond yields
10/69
10/69*
11/68*
69
57
56
973
77
59
54
u
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio
Vendor performance
4/72*
W
Wages and salaries-See Compensation.
West Germany-See International comparisons.
3/69'
Wholesale prices
All commodities, index
7/68
All commodities, percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
10/69
Crude materials index
10/69*
Crude materials, percent changes
Intermediate materials index
Intermediate materials, percent changes
Producer finished goods, index
Producer finished goods, percent changes
Sensitive prices, change in
Workweek of production workers, manufacturing
Workweek of production workers, manufacturing,
10/69
components
10/69* Workweek of production workers, manufacturing, Dl . . . .
6/69*
8/68 '
NOTE: The following abbreviations are used in this index: Cl, composite index, Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number:
Source 1-U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.
Bureau of Economic Analysis and National Bureau of
Economic Research, Inc. (Used by permission.' This
series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).—Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).-The Conference
Board
(24,66)
12. Index of net business formation (M).-Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).—
Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).-Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)
15. Profits (after taxes) per dollar of
manufacturing corporations (Q).—Federal
mission and Securities and Exchange
seasonal adjustment by Bureau of
Analysis
39. Percent of consumer installment loans delinquent 30
days and over ( E O M ) . - A m e r i c a n Bankers
Association
(33,72)
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 92) (M).-Source
1
(H60)
916. Composite index of profitability (includes series 19, 26,
18. Corporate profits after taxes in 1972 dollars (Q).Source 1
(28,69)
(M).-Source 1
(10,39,60)
sales, all
Trade ComCommission;
Economic
(29,70)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).-Source 2
(26,68)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over (M).-Sources 2 and 3
(18,62)
917. Composite index of money and financial flows (includes
series 104, 106, 110) (M).-Source 1
(11,60)
20. Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)
45. Average weekly insured unemployment rate, State
programs (M).-U.S. Department of Labor, Employment
and Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers (M).—
The Conference Board
(17,61)
930. Composite index of six lagging indicators (includes
series 62, 70, 72, 91, 95, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
80) (M).-Source 1
(11,60)
940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).-Source
1
(11,60)
1-B. Cyclical Indicators
1. A v e r a g e workweek of production w o r k e r s ,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3 (16,61)
23. Index of industrial materials prices (M).—Source
3
((28,69,79)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).—Source
2
(23,66)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
47. Index of industrial production, total (M).-Source
4
(14,20,39,58,63,78,94)
48. Employee-hours in nonagricultural
(M).-Source 3
establishments
(17,39,61)
49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
52. Personal income, total, in 1972 dollars (M).-Source
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
28. New private housing units started, total (M).-Source
2
(25,67)
54. Sales of retail stores in current dollars (M).-Source
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
55. Personal consumption expenditures, automobiles (Q).—
Source 1
(22,65)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26,42,68,81)
56. Manufacturing and trade sales in current dollars (M).Sources 1 and 2
(22,65)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).—Sources 1, 2, and
3
(12,21,64)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
3. Layoff rate, manufacturing (M).-Source 3 (12,16,61)
4. Quit rate, manufacturing (M).—Source 3
5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis
(16,61)
unemployment
Department of
Administration;
of Economic
(16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).—Source 2(21,64,77)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by
http://fraser.stlouisfed.org/
114
Federal Reserve Bank of St. Louis
32. Vendor performance, percent of companies reporting
slower deliveries (M).—Purchasing Management
Association of Chicago
(12,21,64)
1
2
(19,63)
(22,65)
57. Manufacturing and trade sales in 1972 dollars (M).Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
(34,72)
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).—Sources 1, 2, 3, and The Conference
Board
(17,61)
84. Rate of capacity utilization, materials (Q).-Source
4
(20,64)
119. Federal funds rate (M).-Source 4
85. Change in money supply Ml-B (M).-Source 4(31,71)
1-C. Diffusion Indexes
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1(25,67)
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
62. Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).-Sources 1
and 4
(15,30,70)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)
951. Diffusion index of four roughly coincident indicator
components (M).-Source 1
(36,74)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).—
Source 1
(25,67)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
63. Index of unit labor cost, private business sector (Q).Source 3
(30,70)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).—Source
2
(27,68)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
66. Consumer installment debt (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)
92. Change in sensitive prices (PPI of crude materials less
agricultural products) (smoothed) (M).-Sources 1 and
3
(13,28,69)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
67. Bank rates on short-term business loans (Q).—Source
4
(35,73)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).—Source 1
(30,70)
95. Ratio, consumer installment debt to personal income
(EOM).-Sources 1 and 4
(15,35,73)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).-Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(15,27,68)
71. Manufacturing and trade inventories, total book value,
in current dollars (EOM).-Sources 1 and 2 (27,68)
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (M).-Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(15,35,73)
73. Index of industrial production, durable manufactures
(M).-Source 4
(20,63)
74. Index of industrial production,
manufactures (M).—Source 4
nondurable
(20,63)
75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)
76. Index of industrial production, business equipment
(M).-Source 4
(24,67)
77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total (EOM).—
Sources 1, 2, and 3
(27,68)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
(Q).-Source 1
(28,69)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
(28,69)
81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).-Source 1
(29,70)
82. Rate of capacity utilization, manufacturing (Q).-Source
4
(20,64)
83. Rate of capacity utilization, manufacturing (EOQ).Source 1
(20,64)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).-The Conference Board (24,66)
102. Change in money supply M2 (M).-Source 4 (31,71)
104. Change in total liquid assets (smoothed) (M).-Sources
1 and 4
(13,31,71)
960. Diffusion index of net profits, manufacturing—about
700 companies (Q).-Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).-Source 1
and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172 industries (M).—Source
3
(36,74)
964. Diffusion index of value of manufacturers' new orders,
durable goods industries—35 industries (M).—Sources
1 and 2
(37,75,77)
965. Diffusion index of newly approved capital
appropriations, deflated—17 manufacturing industries
(Q).-The Conference Board
(37,75)
966. Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)
967. Diffusion index of industrial materials prices—13
industrial materials (M).-Sources 1 and 3 (37,75,79)
105. Money supply Ml-B in 1972 dollars (M).-Sources 1, 3,
and 4
(31,71)
968. Diffusion index of stock prices, 500 common stocks—
53-82 industries ( M ) . - S t a n d a r d & P o o r ' s
Corporation
(37,75)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
970. Diffusion index of business expenditures for new plant
and equipment, total—18 industries (Q).—Source
1
(38,76)
107. Ratio, gross national product to money supply Ml-B
(Q).-Sources 1 and 4
(31,71)
108. Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).—Source
4
(35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
112. Net change in bank loans to businesses (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,72)
113. Net change in consumer installment debt (M).—Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
115. Yield on long-term Treasury bonds (M).-U.S.
Department of the Treasury
(34,73)
116. Yield on new issues of high-grade corporate bonds
(M).-Citibank and U.S. Department of the
Treasury
(34,73)
117. Yield on municipal bonds, 20-bond average (M).-The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).—U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
971. Diffusion index of new orders, manufacturing—about
700 businessmen reporting (Q).-Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972. Diffusion index of net profits, manufacturing and
trade—about 1400 businessmen reporting (Q).-Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
973. Diffusion index of net sales, manufacturing and tradeabout 1400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
974. Diffusion index of number of employees, manufacturing
and trade—about 1400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
975. Diffusion index of level of inventories, manufacturing
and trade—about 1400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
976. Diffusion index of selling prices, manufacturing—about
700 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
115
TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade—about
450 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 250
businessmen reporting (Q).-Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
II-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).-Source
1
(45,82)
223. Personal income in current dollars (M).—Source
1
(40,63)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).—
Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).—Source
1
(47,83)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).-Source
1
(44,82)
292. Personal saving (Q).-Source 1
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).—Source 1 (46,83)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
298. Government surplus or deficit, total (Q).—Source
1
(46,83)
II-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
311. Fixed-weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).—Source
3
(49,59,84,95)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).-Source
1
(44,82)
322. Index of consumer prices, food (M).-Source 3(49,84)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).—Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
330. Index of producer prices, all commodities (M).—Source
3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment (M).—
Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities (M).—
Source 3
(48,85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)
265. Federal Government purchases of goods and services as
a percent of gross national product (Q).-Source
1
(47,83)
266. State and local government purchases of goods and
services in current dollars (Q).-Source 1
(43,81)
267. State and local government purchases of goods and
services in 1972 dollars (Q).-Source 1
(43,81)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).—Source
3
(49,87)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
280. Compensation of employees (Q).-Source 1
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).—Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
116
(45,82)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
288. Net interest (Q).-Source 1
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
565. National defense purchases as a percent of gross
national product (Q).-Source 1
(55,91)
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
(M).-Source 3
(48,59,84,95)
447. Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).-Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
577. Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
453. Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
580. Defense Department net outlays, military functions and
military assistance (M).-U.S. Department of Defense,
OSD, Comptroller, Directorate for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
II-D. Government Activities
588. Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
604. Exports of agricultural products (M).-Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
452. Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3
(51,89)
510. State and local government surplus or deficit; national
income and product accounts (Q).-Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).-Source 1 (52,90)
517. Defense Department gross obligations incurred (M).—
U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).-U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
548. Value of manufacturers' new orders, defense products
(M).- Source 2
(53,90)
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).-Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
(57,93)
620. Merchandise imports, adjusted, excluding military
(Q).-Source 1
(57,93)
622. Balance on merchandise trade (Q).-Source 1 (57,93)
651. Income on U.S. investments abroad (Q).—Source
1
(57,93)
652. Income on foreign investments in the United States
(Q).-Source 1
(57,93)
667. Balance on goods and services (Q).-Source 1(57,93)
557. Output of defense and space equipment (M).— Source
4
(54,91)
668. Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)
559. Value of manufacturers' inventories, defense products
(EOM).-Source 2
(54,91)
669. Imports of goods and services, total (Q).-Source
1
(57,93)
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
722. United- Kingdom, index of industrial production (M).—
Central Statistical Office (London)
(58,94)
723. Canada, index of industrial production (M).—Statistics
Canada (Ottawa)
(58,94)
725. West Germany, index of industrial production (M).—
Deutsche Bundesbank (Frankfurt)
(58,94)
726. France, index of industrial production (M).-lnstitut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production (M).-lnstituto
Centrale di Statistica (Rome)
(58,94)
606. Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. General imports, total (M).-Source 2
721. Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
II-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)
728. Japan, index of industrial production (M).—Ministry of
International Trade and Industry (Tokyo)
(58,94)
732. United Kingdom, index of consumer prices (M).—
Ministry of Labour (London); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95)
733. Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
735. West Germany, index of consumer prices (M).—
Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis
(59,95)
736. France, index of consumer prices (M).-lnstitut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737. Italy, index of consumer prices (M).-Institute Centrale
di Statistica (Rome); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
742. United Kingdom, index of stock prices (M).—The
Financial Times (London)
(59,96)
743. Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)
745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)
746. France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
(59,96)
747. Italy, index of stock prices (M).-lnstituto Centrale di
Statistica (Rome)
(59,96)
748. Japan, index of stock prices (M).—Tokyo Stock
Exchange (Tokyo)
(59,96)
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