Full text of Business Conditions Digest : August 1982
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U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Robert G. Dederick, Under Secretary for Economic Affairs
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Charles A. Waite, Acting Associate Director for
National Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis, Technical staff and their responsibilities for the publication a r e Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee consisting of the following persons:
Beatrice N. Vaccara, Chairman, Bureau of Industrial Economics, U.S. Department of
Commerce
John H. Auten, U.S. Department of the Treasury
Norman Frumkin, Office of Management and Budget
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
J. Cortland Peret, Board of Governors of the Federal Reserve System
Adrian W. Throop, Council of Economic Advisers
Charles A. Waite, Bureau of Economic Analysis, U.S. Department of Commerce
ABOUT THIS REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects, The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Annual subscription price: $55.00 domestic,
$68.75 foreign. Single copy price: $5.50 domestic, $6.90 foreign. Foreign airmail rates are
available on request. Address correspondence
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.
concerning subscriptions to Superintendent of
Documents, U.S. Government Printing Office,
Washington, D.C. 20402. Make checks payable
to Superintendent of Documents.
BUSINESS CONDITIONS DIGEST
New Features and Changes for This Issue
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 1 9 8 2
Data Through July
Volume 22, Number 8
PART I.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND
THEIR COMPONENTS
Chart
Table
Al
A2
A3
A4
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
10
12
14
15
60
—
—
—
Bl
B2
B3
B4
B5
B6
B7
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
16
19
21
23
26
28
31
61
63
64
65
68
69
71
Cl
C2
C3
DIFFUSION INDEXES
AND RATES OFCHANGE
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
36
—
39
74
77
—
The Secretary of Commerce has determined
that the publication of this periodical is necessary in the transaction of the public business
required by law of this Department. Use of funds
for printing this periodical has been approved
by the Director of the Office of Management
and Budget through April 1F 1985.
BCII
PART li.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
AND PRODUCT
11,
A2
A3
A4
A5
A6
A7
Aft
GNPand Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
Chart
Table
40
41
42
43
. . . . 44
45
. . . 46
47
80
80
81
81
82
82
82
83
48
49
84
87
51
89
52
53
90
90
56
57
92
93
58
59
59
94
95
96
....
97
PRICES, WAGES,
AND PRODUCTIVITY
Bl
B2
Price Movements
Wages and Productivity
LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT
Civilian Labor Force and Major Components
GOVERNMENT ACTIVITIES
Receipts and Expenditures
Defense Indicators
U.S. INTERNATIONAL TRANSACTIONS
Merchandise Trade
Goods and Services Movements
INTERNATIONAL COMPARISONS
Industrial Production
Consumer Prices
Stock Prices
PART III. APPENDIXES
A. MCD and Related Measures of Variability (January 1981 issue)
QCD and Related Measures of Variability (January 1981 issue)
B. Current Adjustment Factors (July 1982 issue)
C. Historical Data for Selected Series
D. Descriptions and Sources Of Series (See •'Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions (July 1982 issue)
F. Specific Peak and Trough Dates for Selected Indicators (June 1982 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
104
110
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
The subscription price of BCD has been reduced
to $55 per year ($68.75 for foreign delivery).
This is a direct result of the cost-cutting
actions taken in April of this year. If those
actions had not been taken, the subscription
price would have increased.
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. Two monthly series that measure changes in sensitive
credit are under consideration for inclusion in the cyclical
indicators section of BCD. Beginning with this issue, these
series are shown in appendix G (page 105). Both series are
based on five components: (1) consumer installment credit,
(2) commercial and industrial loans outstanding at large commercial banks, (3) real estate loans at large commercial
banks, (4) mortgage loans at savings and loan institutions,
and (5) commercial paper of nonfinancial companies. The
series are compiled by the Bureau of Economic Analysis from
data supplied by the Board of Governors of the Federal Reserve System and the Federal Home Loan Bank Board.
Further information concerning these series may be
obtained from the U.S. Department of Commerce, Bureau of
Economic Analysis, Statistical Indicators Division.
(Continued on page iv.)
The September issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on October 4.
in
2. The series on current-dollar manufacturing and trade sales and
inventories (series 31, 56, and 71) have been revised by the source agency
for the period 1977 to date. These revisions reflect the incorporation of
recent revisions in the series' components—the sales and inventories of
manufacturers, merchant wholesalers, and retailers--and updated seasonal
adjustment factors.
Further information concerning these revisions may be obtained from
the U.S. Department of Commerce, Bureau of the Census, Business Division.
3. Data on productivity and costs (series 26, 48, 63, 345, 346, 358,
370, and the implicit price deflator and unit labor cost for nonfarm business
(shown in appendix G) have been revised by the source agency to reflect
(a) revised output and compensation measures released as part of the annual
revision of the national income and product accounts and (b) revised measures
of labor input based on updated seasonal adjustment factors and the 1980
Census of Population.
Further information concerning these revisions may be obtained from the
U.S. Department of Labor, Bureau of Labor Statistics, Office of Productivity
and Technology, Division of Productivity Research.
4. Appendix C contains historical data for series 6-8, 10, 20, 24, 27,
34-36, 49, 50, 107, 108, 200, 618, 620, 622, 651, 652, 667-669, and 964.
5. Appendix G contains recession comparisons for series 21, 29, 30,
47, 50, 90, 910, and 920.
IV
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform welt to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1956, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1971.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977
Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, alt 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.
Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity-that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
conformity to business expansions and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
Reference Turning Dates
scores relate to cyclical behavior of the series
The historical business cycle turning dates used during the period 1947-70. This analysis produced
in this report are those designated by the National a new list of indicators classified by economic
Bureau of Economic Research, Inc. (NBER). They process and typical timing at business cycle peaks
mark the approximate dates when, according to and troughs. (See tables on page 2 and text below
NBER, aggregate economic activity reached its relating to section B.)
cyclical high or low levels. As a matter of general
This information, particularly the scores relating
practice, neither new reference turning dates nor to consistency of timing, served as a basis for the
the shading for recessions will be entered on the selection of series to be included in the composite
charts until after both the new reference peak and indexes. The indexes incorporate the best-scoring
the new reference trough bounding the shaded area series from many different economic-process
have been designated.
groups and combine those with similar timing
The historical reference turning dates are subject behavior, using their overall performance scores as
to periodic review by NBER and on occasion are weights. Because they use series of historically
changed as a result of revisions in important tested usefulness and given timing characteristics
economic time series. The dates shown in this (for example, leading at both peaks and troughs),
publication for the 1948-1970 time period are those with diversified economic coverage and a minimum
determined by a 1974 review. Since then, NBER has of duplication, composite indexes give more
designated turning points for the 1973-1975 reces- reliable signals over time than do any of the
sion and the 1980 recession.
individual indicators. Furthermore, much of the
1
Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
N. Economic
\Process
CycllcalV
Timing
^v
LEADING (L)
INDICATORS
(62 series)
1.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
II.
PRODUCTION
AND
INCOME
(10 series)
III.
CONSUMPTION.
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)
Capacity
utilization
(2 series)
New and
unfilled orders
and deliveries
(6 series)
Consumption
(2 series)
Formation of
business
enterprises
(2 series)
Business
Investment
commitments
(5 series)
Residential
construction
(3 series)
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
1nventory
investment
(4 series)
Inventories on
hand and on
order
(1 series)
VI.
PRICES, COSTS,
AND PROFITS
(17 series)
VII.
MONEY
AND CREDIT
(26 series)
Stock prices
(1 sertos)
Commodity
pr!c*£
(1 $*fte$)
Profit* aact
profit
margin*
(7 serHss)
Ca*h f low*
(2 series)
• mmm m
>
:
i
(1 *tr
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(18 series)
TIMING
UNCLASSIFIED
((8u >series)
Comprehensive
employment
(1 series)
Comprehensive
output and
real Income
(4 series)
Industrial
production
(4 series)
Consumption
and trade
(4 series)
Duration of
unemployment
(2 series)
Backlog of
Investment
commitments
(1 series)
Business
Investment
expenditures
(5 series)
Business
Investment
expenditures
(1 series)
Comprehensive
employment
(3 series)
Trade
(1 series)
k
m
m
n
^$
vlt-MrtM}
Inventories on
hand and on
order
(4 series)
unit U&or emu
and labor sharo
(4 sertes)
(4 MrtM}
:
Commotftty
Business
Investment
commitments
(1 series)
Profit shir*
;
(1 series)
B. Timing at Business Cycle Troughs
x. Economic
\Process
CycllcalV
Timing >v
LEADING (L)
INDICATORS
(47 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
PRODUCTION
AND
INCOME
(10 series)
II.
ML
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
Marginal
employment
adjustments
(3 series)
Industrial
production
(1 series)
New and unfilled Formation of
orders and
business
deliveries
enterprises
(5 series)
(2 series)
Consumption
Business
and trade
Investment
(4 series)
commitments
(4 series)
Residential
construction
(3 series)
Comprehensive
output and
real Income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
Consumption
and trade
(3 series)
Marginal
employment
ROUGHLY
| adjustments
(2 series)
COINCIDENT(C) Comprehensive
INDICATORS
employment
(23 series)
(4 series)
Marginal
employment
adjustments
(1 series)
Job vacancies
LAGGING (Lg) i (2 series)
INDICATORS I Comprehensive
(40 series)
| employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)
TIMING
i
UNCLASSIFIED1
(U)
1
(1 series)
;
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
VI.
PRICES, COSTS,
AND PROFITS
(17 series)
Inventory
investment
(4 series)
Stock prices
Business
investment
commitments
(1 series)
VII.
MONEY
AND CREDIT
(26 series)
(1 sertes)
Commodrty
prices
(2 sertes)
Profits and
profit margins
{6 series)
Cash flows
(2 sertes)
Profits
(2 sertes)
t
Unfilled orders
(1 series)
Business
investment
commitments
(2 series)
Business
investment
expenditures
(6 series)
Inventories on
hand and on
order
(5 series)
Unit labor coast* I
and labor stw«
(4 $*rte$)
jam*
Bank r«§#rv«s
(1 $*r )«*)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution, of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
well-established differences in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through + 1 at peaks and from -1 through
+ 3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1977
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags ( + ) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the post-1970 period can
be determined by inspection of the charts, where the
1973-1975 recession and the 1980 recession are
shaded according to the dates of the NBER reference
cycle chronology.
August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 7 0 ) . Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
Section B. Cyclical Indicators by Economic Process expectations for several operating variables are
presented, along with the corresponding indexes
This section covers 111 individual time series, based on actual data, as the last set of diffusion
including the 22 indicators used in the series.
This section also records rates of change for the
construction of the composite indexes. The peak
and trough timing classifications are shown on the three composite indexes (leading, coincident, and
charts in the same manner as described above, but lagging) and for four indicators of aggregate
this section includes series with different timing at economic activity; GNP in constant dollars
peaks and at troughs, as well as series where the (quarterly), industrial production, employee hours
timing is not sufficiently consistent to be classified in nonagricultural establishments, and personal
as either L,C, or Lg according to the probabilistic income less transfers in constant dollars. Rates of
measures and scoring criteria adopted. Such series change are shown for 1- and 3-month spans or for
are labeled U, i.e., unclassified as to timing at 1-quarter spans.
turning points of the given type. Eight series are
Although movements in diffusion indexes and in
unclassified at peaks, one series at troughs, and 19 rates of change for the same aggregates are
series at all turns (of the 19, 15 have definite but generally positively correlated, these two measures
different timing at peaks and at troughs). No series present information about two related but distinct
that is classified as U both at peaks and at troughs aspects of economic change. Diffusion indexes
is included in the list of cyclical indicators.
measure the prevailing direction or scope of
The classification scheme which groups the change, while rates of change measure the degree
indicators of this section by economic process and as well as the overall direction. As is the case for
cyclical timing is summarized in the two diffusion indexes, cyclical movements in the rates
tabulations on page 2. Cross-classification A is of change tend to lead those of the corresponding
based on the observed behavior of the series at five indexes or aggregates, and thus, they tend to lead
business cycle peaks (November r 48, July '53, at the business cycle turns as well.
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national product—personal consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net exports of goods and services—are presented in
sections A2 through A5, Most of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources. It is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to government.
Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial services received in kind by individuals. Net purchases of used goods are also included.
Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include all private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.
Government purchases of goods and services
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
of the national production; imports are not, but are
included in the components of GNP and are
therefore deducted. More detail on U.S.
international transactions is provided in section E.
National income (A6) is the incomes that
originate in the production of goods and services
attributable to labor and property supplied by
residents of the United States. Thus, it measures
the factor costs of the goods and services produced. It consists of the compensation of
employees, proprietors' income, rental income of
persons, corporate profits, and net interest.
Saving (A7) is the difference between income
and expenditures during an accounting period.
Total gross saving includes personal saving,
business saving (mainly undistributed corporate
profits and capital consumption allowances), and
government surplus or deficit.
Shares of GNP and national income (A8).—The
major expenditure components of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income.
Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index tor the gross business product. Data on both levels and percent changes are
presented for the period since 1971.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.
Section C. Labor
Unemployment
Force, Employment, and
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, age, and class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.
Section D. Government Activities
Receipts, expenditures, and their balance (surplus or deficit) are shown quarterly on two levels:
(1) Federal Government and (2) State and local
government. Also shown is a selection of series
from the discontinued Defense
Indicators.
These series measure defense activities which
influence short-term changes in the national
economy. Included are series relating to
obligations, contracts, orders, production,
shipments, inventories, outlays, and employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as" intermediate and final
measures of defense activity."
Section E U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.
Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1971) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1971) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Various scales are used to
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
highlight the patterns of the
individual series. "Scale A "
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Dotted line indicates anticipated quarterly data over
various spans.
Rates of Change
Solid line indicates percent
changes over 3- or 6-month
spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line indicates percent
changes over 1-month spans.
Broken line with plotting
points
indicates
percent
changes over 1-quarter spans.
Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, o r -
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Basic data1
Timing
classification 3
Series title
Unit
of
measure
Percent change
Average
4th Q
1980
2dQ
May
June
July
to
to
1982
1982
1982
1982
June
July
4th Q
to
1st Q
1982
1982
1982
1st 0
to
2d Q
1982
-2.0
-2.5
-1.1
-0.7
0,4
910
920
930
NA
-0.6
-3.1
-3.3
NA
0.8
0.7
NA
2.9
913
914
915
916
917
1..0
0.1
MA
-3.5
KA
NA
1
21
2
5
3
4
May
1981
1st Q
1982
1981
June
I
1. C Y C L I C A L I N D I C A T O R S
A. Composite Indexes
910. Twelve leading indicators
920. Four coincident indicators
930. Six lagging indicators
Lg,Lg,Lg
1967=100 . .
do. . . .
do. . . .
131.2
140.3
176.8
133.1
141.3
187.8
127.9
138.3
185.4
129.8
132.7
183.2
-1.3
-0.3
-0.3
-0.3
L.L.L
L,L,L
L.L.L
UUL
L.L.L
do.
do.
do.
do.
do.
...
...
...
...
...
92.9
107.2
101.0
90.8
135.6
93.0
103.2
102.3
93.4
137.7
NA
NA
90.0
NA
NA
NA
99.1 100.7
99.4
98.8
99.4
99.6
98.4
99.1
99.6
96.5
97.2
97.2
NA
NA
92.1 89.1
88.5
NA
133.9 138.2 142.2 142.7 141.4 141.3
NA
-0.3
1.2
NA
-0.9
1.6
0.7
NA
-0.1
0.3
0.1
NA
5.8
NA
NA
0.3
0.
NA
6.5
NA
NA
L,L,L
c,c,c
Leading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
916. Inventory investment and purchasing
916. Profitability
917. Money and financial flows
125.3
134.9
183.3
127.5
134.0
184.1
127.7
134.9
184.2
128.1
133.1
183.7
0.3
1.3
NA
3.2
1.8
8 . Cyclical Indicators by Economic Process
B 1 . Employment and U n e m p l o y m e n t
Marginal Employment Adjustments:
* 1 , Average workweek, prod, workers, mfg
21. Avg. weekly overtime, prod, workers, mfg. 2 . .
2. Accession rate, per 100 employees, mfg. 2
•5. Avg. weekly initial claims (inverted4)
3. Layoff rate, per 100 employ., mfg. (inv. 4 ) 2 . .
4. Quit rate, per 100 employees, mfg.2
Hours
do. . . .
Percent
Thousands. .
Percent
do. . . .
39.7
2.8
3.5
480
1.7
1.5
39.8
2.8
3.2
446
1.6
1.3
39.3
L.C.L
L.L.L
L,C,L
L,L,L
ULg,U
2.5
2.9
536
2.2
1.1
2.3
NA
548
NA
NA
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
....
....
46. Help-wanted advertising
L,lg,U
L,Lg,U
Ratio
1967=100...
0.508
129
0.429
119
0.360
110
U.C.C
C.C.C
L.C.U
A.r., bit. hrs..
Thousands. .
do. . . .
do. . . .
169.48
95,938
90,406
25,658
169.99
97,030
91,105
25,481
U,Lg,U
Percent
58.47
Thousands..
Percent
do. . . .
Weeks
Percent
7,637
7.1
3.9
11.9
1.7
Comprehensive Employment:
48. Employee hours in nonagri. establishments,..
42. Persons engaged in nonagri. activities
* 4 1 . Employees on nonagri. payrolls
40, Employees in mfg., mining, construction
90. Ratio, civilian employment to total population of working age2
LLL
u,cc
Comprehensive Unemployment:
37. Total unemployed (inverted4)
L,Lg,U
43. Unemployment rate, total (inverted 4 ) 2
L,Lg,U
45. Avg. weekly insured unemploy. rate (inv. 4 } 2 . . L,Lg,U
* 9 1 . Avg. duration of unemployment (inverted4) . . Lg,Lg,Lg
44. Unemploy. rate, 15 weeks and over (inv. 4 ) 2 . . Lg,Lg,Lg
39.2
2.4
NA
551
NA
NA
39.1
2.3
NA
585
NA
NA
0.316
102
0.247
87
0.245
87
0.243
85
169.05
96,723
90,954
25,159
167.50
96,177
90,408
24,588
167.24
96,356
90,036
24,179
167.99
96,629
90,166
24,255
166.50
96,406
89,860
23,992
166.79
96,272
89,843
23,878
-0.9
-0.2
-0.3
-1.1
0.2
-0.1
0.
-0.5
-0.9
-0.6
-0.6
-2.3
-0.2
0.2
-0.4
-1.7
43
42
41
40
58.28
57.78
57.33
57.26
57.47
57.22
57.14
-0.25
-0.08
-0.45
-0.07
90
8,273
7.6
3.4
13.7
2.1
9,113
8.4
3.8
13.2
2.2
9,576 1 0 , 4 2 8 10,549 10,427 10,790
9.5
9.8
8.8
9.5
9.5
4.7
4.5
4.1
4.6
4.6
16.5
15.6
13.8
15.1
14.6
3.3
3.2
2.5
3.0
3.0
1.2
0.
-0.1
-13.0
-0.3
-3.5
-0.3
0.2
5.5
0.1
-5.1
-0.4
-0.3
-4.5
-0.3
-8.9
-0.7
-0.5
-9.4
-0.5
37
43
45
91
44
1474.0 1502.6 1490.1 1470.7 1475.3
1205.7 1242.0 1249.0 1241,6 1251.7 1256.1 1249.9 1253.5
1039.9 1069.1 1073.4 1066.3 1072.6 1076.8 1071.1 1069.8
-0.5
-0.5
0.3
0.3
0.8
38.7
39.1
2.4
NA
567
NA
NA
39.3
2.4
NA
515
NA
NA
-1.5
-0.2
NA
-2.2
Nh
NA
0.221 -0.002 -0.022 -0.044 -0.069
-5.9
-14.7
80 - 2 . 3
-7.3
60
46
B2. Production and Income
Comprehensive Output and Income:
50 GNPin 1972 dollars
52 Personal income in 1972 dollars . . .
....
* 5 1 . 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 Panaritv utilization rate mfo SEA^
84 Capacity utilization rate materials FRB 2
....
ccc
c.cc
do
-0.1
-1.3
-0.6
-0.7
0.6
50
52
51
ccc
do
232.6
230.2
225.7
222.4
219.6
220.3
217.6
216.0
-1.2
-0.7
-1.5
-1.3
53
1967-100...
do. . . .
do
A r bil dol
147.0
136.7
161.2
667.9
151.0
140.5
164.8
689.5
146.3
134.5
160.2
678.0
141.8
128.2
156.7
661.8
139.2
126.0
155.1
663.2
139.2
126.0
154.9
138.2
125.3
154.2
138.1
125.2
154.2
-0.7
-0.6
-0.5
-0.1
-0.1
0.
-3.1
-4.7
-2.2
-2.4
-1.8
-1.7
-1.0
0.2
47
73
74
49
79.1
78
80.0
78.4
76
79.9
74.8
72
75.2
71.6
72
72.0
70.2
NA
69.6
-3.2
0
-3.2
-1.4
NA
-2.4
82
83
84
-1.3
-1.6
-2.7
2.01
-0.8
1
-0.7
-1.3
2.2
~ . l . 81
-2.6
-1
6
7
8
25
96
32
1.3
1.5
1.5
2.7
2.3
-0.9
-0.5
156
57
75
54
59
55
58
NA
NA
NA
12
13
ccc
ccc
ccc
C.L.L
ccc
..
A r bil dol
do. . . .
LC U
Percent
do
LC U
do
LLL
L.L.L
L,L,L
L,L,L
LLg.U
LLL
Bil. dol
do. . . .
do. . . .
do. . . .
Bit. dol., EOP
Percent...
79.07 83.24 77.40 76.41 75.89 76.28 74.51 76.91
38.18 37.41 33.96 33.40 32.98 33.14 32.23 33.22
33.32 33.12 30.25 29.44 30.09 30.80 30.04 30.42
1.51 - 0 . 1 4 -2.82 - 0 . 8 1 -2.62 - 3 . 2 4 -4.37 -2.44
310.05 308.37 308.37 305.95 298.09 302.46 298.09 295.65
45
33
34
40
38
37
33
30
CCC
C.L.C
C L U
U,L,U
L.CC
L,L,L
Bil. dol
do. . . .
1967-100...
Mil dol
do. . . .
A.r., bil. dol.
1 Q 1966=100
321.01
154.41
145.4
79,325
43,440
60.6
64.4
339.81
149.24
141.0
86,660
42,852
68.0
66.5
344.33
151.48
143.1
89,007
43,841
67.4
66.2
LLL
LLL
1967-100
Number. . . ,
NA
121.1 113.6 107.6
44,293 48,465 48,305 45,821
NA
NA
B3. C o n s u m p t i o n , Trade, Orders, and
Deliveries
Orders and Deliveries:
6 New orders durable goods
7 New orders, durable goods, 1972 dollars
*8. New orders, cons, goods and mtls., 1972 dol. .
25. Chg. in unfilled orders, durable goods2
96. Mfrs.' unfilled orders, durable goods5
*32. Vendor performance2 ®
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 @
. .
ccc
350.52
155.87
147.9
86,566
43,993
67.2
70.7
344.21
151,23
144.2
86,573
43,142
62.8
65.7
349.15
153.90
143.5
90,841
44,815
344.45
NA
150.90
NA
143.7 144.5
87,887 88,723
42,977 43,195
-2.3
-2.7
-2.5
-1.13
-1.4
8
3.2
3.1
1.3
1.93
-0.8
-1
-1.3
-1.9
0.1
-3.3
-4.1
NA
NA
0.6
1.0
67.5
65.7
65.4
-2.7
-0.5
-1.3
-1.3
-2.2
0.1
-0.7
8.3
1.2
NA
NA
NA
NA
NA
NA
NA
NA
NA
-5.1
0.5
B4. Fixed Capital Investment
Formation of Business Enterprises:
*12 Net business formation
13. New business incorporations
46,995
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Series title
Timing
classification 3
Unit
of
measure
Average
4th Q
1981
1980
1st Q
1982
2dQ
1982
Percent change
May
1982
June
1982
May
to
June
1982
July
1982
1981
June
to
July
1982
4th Q
to
1st Q
1982
1st Q
to
2dQ
1982
I. C Y C L I C A L I N D I C A T O R S - C o n .
B4. Fixed Capital Investment—Con.
Business Investment Commitments:
10. Contracts and orders, plant and equipment . . .
*20. Contr. and orders, plant and equip.,
1972 do!
24. New orders, cap. goods indus,, nondefense . . .
27. New orders, capital goods industries, nondefense, 1972 dollars
9. Construction contracts, commercial and industrial buildings, floor space
11. New capital appropriations, mfg
97. Backlog of capital appropriations, mfg. s
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
B5.
L,L,L
L,L,L
L,L,L
L,L,L
L,C,U
U,Lg,U
C,Lg,Lg
Bil.dol
do. . . .
26.57
27.92
26.92
25.63
24.14
22.95
23.78
23.93
14.33
23.45
14.07
24.04
13.83
23.01
12.73
21.82
12.16
20.74
11.39
20.33
11.24
19.28
11.49
21.28
-1.3
-5.2
12.90
12.39
12.15
11.12
10.72
10.28
9.35
10.38
-9.0
11.0
-8.5
-3.6
77.81
25.90
90.73
77.72
26.42
92.74
71.89
22.99
92.74
61.52
25.77
91.11
59.01
20.04
82.96
51.70
60.02
56.41
31.6
-17.1
-14.4
12.1
-1.8
-4.1
-22.2
-8.9
0.
-1.2
NA
152.0
-0.9
-3.1
NA
-2.1
-4.5
-4.8
-1.3
-2.2
-6.3
-3.3
1,211
85.8
-15.0
-1.7
33.7
14.4
6.4
7.5
-2.5
3.4
12.4
2.6
3.6
0.6
-4.8
2.2
10.4
-8.0
-5.2
-4.5
-4.9
. . . .do. . . .
do. . . .
Mil.sq.ft. ..
Bil.dol
Bil.dol., EOP
C,Lg,Lg A.r., bit.
dol.
do. . . .
C,Lg,Lg
C,Lg,U 1967=100...
C,Lg,C A.r., bil.dol.
295.63 321.49 327.83 327.72 323.75
317.92 348.59 354.91 338.79 331.27 335.59 332.71
160.2
155.2
17p.9
160.1
173.2
181.1
179.5
172.0
166.4
166.1
172.0
174.2
1,087
80.0
44.9
865
61.3
39.9
-5.0
9.0
4.8
-9.10
38.4
0.77
3.42
37.5
0.10
L,LL
L,L,L
L,L,L
A.r.( thous. .
1967=100...
A.r., bil.dol.
1,292
96.7
47.2
L,L,L
do.
920
65.9
38.9
951
74.1
39.9
1,066
76.3
906
75.0
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 {smoothed6}2
31. Chg. in bookvalue, mfg. and trade invent.2 . .
38. Chg. in mtl. stocks on hand and on order2 . . .
Inventories on Hand and on Order:
71. Mfg. and trade inventories, total s
•70. Mfg. and trade invent., total, 1972 dol. s
65. Mfre.' inventories of finished goods5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars2
78. Materials and supplies, stocks on hand and on
order5
L,L,L
UL.L
L,L,L
do.
do.
Bil.dol. .
Lg,Lg,Lg Bil.dol., EOP
do. . . .
Lg,Lg,Lg
do. . . .
Lg,Lg,Lg
-15.4
-5.3
-20.2
3.16 -20.19 -15.46 -14.29 -13.71
19.9
7.5 -54.3
18.6 -39.6
-4.04
-2.68
-2.33
-1.73 -2.57
NA
NA
NA
0.58
74.2
-1.71
NA
NA
NA
23.35
-58.2
-0.84
482.57 520.02 520.02 510.13 512.01 510.36 512.01
262.78 269.85 269.85 265.98 264.99 264.57 264.99
NA
NA
NA
0.3
0.2
NA
NA
NA
-1.9
-1.4
79.99
87.66
87.66
1.71
1.71
1.79
Lg,Lg,Lg Ratio
L,Lg,Lg Bil.dol., EOP
88.49
85.90
1.79
1.75
86.56
85.90
-0.8
NA
NA
1.72
1.76
NA
221.89 223.13 223.13 215.42 207.39 211.42 207.39
0.04
NA
-1.9
0.9
0.
10.1
4.73
47.1
-0.11
0.4
-0.4
-2.9
-0.04
-3.7
-3.5
B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed6)2
23. Spot market prices, raw industrials © .
L,L,L
U,L,L
Percent. . . .
1967=100..
Stock Prices:
*19. Stock prices, 500 common stocks®
L,L,L
194143=10.
Profits and Profit Margins:
16. Corporate profits after taxes
18. Corp. profits after taxes, 1972 dollars
79. Corp. profits after taxes with IVA and CCAdj .
80
do
in 1972 dol..
15. Profits {after taxes) per dol. of sales, mfg.2 .
26. Ratio, price to unit labor cost, nonfarm bus . . .
L.L.L
UL.L
LC.L
L.C.L
L,L,L
L,L,L
A x , bil. dol.
do. . . .
do. . . .
do. . . .
Cents
1977=100...
157.8
86.1
97.0
53.3
4.8
96.5
150.9
76.2
109.4
55.5
4.8
98.0
144.9
71.2
112
55.5
4.3
97.7
115.9
56.7
101.3
49.7
4.0
96.7
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. . . ,
263.1
139.8
275.2
134.7
277.5
131.8
132.9
143.1
147.9
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 1977 =
100..
Lg,Lg,Lg Dollars. . . .
Lg,Lg,Lg 1967=100..
1.49
298.0
-0.24
270.6
-0.89
259.6
-0.78
241.7
-0.90
245.5
0.22
232.2
0.94
237.0
1.12
-5.4
0.72
2.1
118.78 128.04 122.17 114.21 114.12 116.35 109.70 109.38
115.0
55.6
101.2
49.1
NA
96.4
-20.0
-20.4
-9.8
-10.5
-0.3
-1.0
-0.8
-1.9
-0.1
-1.2
NA
-0.3
255.8
121.0
263.0
123.1
-7.8
-8.2
150.9
153.0
75.4
76.4
0.74
0.83
804.7
0.56
0.77
0.83
198.0
818.0
0.23
0.76
0.94
197.4
828.1
-0.20
0.89
0.96
197.3
829.3
-0.02
0.55
0.93
195.2
825.2
1.380
6.685
1.356
6.731
1.347
1.348
1.346
61.48 41.01 17.98
8.74
17.21 19.40 16.77 38.04
6.03
20.87
6.27
2.63
292.75 288.60 201.98 280.10
NA
44.85
15.69
NA
3.07
40.56
16.79
NA
39.68
16.19
75.1
0.11
-6.9
-0.1
1.376
226.6
1.305
210.3
-0.65
-4.1
-6.5
1.349
219.7
1.211
196.6
75.5
Lg,Lg,Lg Percent
1.27
283.4
1.389
230.5
230.9
232.5
232.2
0.7
-0.1
2.8
1.7
2.0
1.4
2.0
3.1
0.9
1.7
1.0
-0.1
B7. Money and Credit
Money:
85. Change in money supply (Ml ) 2
102. Change in money supply {M2) 2
*104. Chg. in total liquid assets (smoothed6]
105. Money supply (Ml), 1972 dollars . . .
*106. Money supply (M2), 1972 dollars . . .
L.L.L
L,C,U
LL,L
UL.L
L.L.L
Percent.
do.
do.
Bil. dol. .
do.
0.53
0.73
0.74
203.7
807.8
0.52
0.80
0.93
197.6
803.6
Velocity of Money:
107. Ratio, GNP to money supply (Ml) 2
108. Ratio, pers. income to money supply (M2) 2
CC.C
CLg,C
Ratio
6.561
1.357
6.839
1.383
Credit
33.
112.
113.
110.
Flows:
Change in mortgage debt2
Change in business loans2
Change in consumer installment credit3
Total private borrowing
L,L,L
LL,L
L,L,L
L,L,L
do. . .
A.r., bil.
do.
do.
do.
dol.
..
..
..
0.90
194.5
-0.04
0.79
0.90
194.0
826.8
0.18
-0.34
-0.03
-1.1
-0.5
-0.02
0.24
-0.03
-0.6
0.2
-0.18
-0.06
-0.07
1.8
1.7
-0.33
-0.01
0.11
-0.3
1.2
-0.009
NA
10.61
NA
NA
-0.88
-0.60
NA
-29.07
NA
-9.24
21.27
-0.24
38.7
NA
6.81
9.66
NA
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Series title
Timii
classification1
Unit
of
Percent change
Average
1980
May
to
June
1982
2dQ
1982
May
1982
June
1982
NA
2.24
NA
2.16
NA
2,21
NA
2.16
-516 -1,278
829 1,639
-98
1,297
-745
1,105
-895
1,205
14.23
12.89
13.45
16.14
13.0
16.96
17.13
16.27
14.51
12.36
12.94
15.65
12.33
16.41
17.11
16.50
14,45
12.15
12.6
15.3
11.95
16.19
14.15
12.11
13.32
15.96
12.45
16.73
12.5
11.91
12.9
15.75
12.28
16.2
16.50
16.50
16.2
4th Q
1981
1st Q
1982
1981
July
1982
to
July
1982
4th Q
to
lstQ
1982
2d Q
11)32
I. C Y C L I C A L I N D I C A T O R S - C o n .
B7, Money and C r e d i t - C o n .
Credit Difficulties:
14. Liabilities of business failures {inv. 4 }©
39. Delinquency rate, instal, loans (inv. 4 ) 2 s
L,L,L
L,L,L
Mil.dol
Percent, EOP
386.26
2.57
Bank Reserves:
93. Free reserves (inverted") 2 ^
94. Borrowing from the Federal Reserve 2 ©
L,U,U
L,Lg,U
Mil.dol...
do. .
-1,141 -1,051
1,420
1,359
NA
2.37
NA
0.05
NA
NA
NA
NA
0.13
0..08
150
100
-585
-535
762
310
-296
-342
-0.30
-0.04
0.65
0.59
0.50
0.54
-1 56
-0.20
-0.35
-0.21
-0.17
-0.44
0.64
0.87
0.22
0.13
0.48
0.35
-0.10
-0.74
0.28
-0.53
-0.51
-0.49
-0.69
-0.55
-0.02
0.23
1.6
0.
0.4
NA
4.7
-0.05
5.0
-0.09
0.6
-0.4
-0.1
1.0
0.8
-0.3
1.1
1.2
1.5
0.(5
1.0
0.5
0.6
0.8
-0.3
0.2
1.0
0.7
0.1
2.4
-0.7
1.1
-0.1
0.2
0.5
1.6
1.5
92.8
-0.7
-0.2
0.9
1.8
1.1
-0'.2
0.5
1.5
0.3
0.3
106.94 108.67 109.16 109.13 110.17 110.67 110.19 110.52
99.30 100.40 100.04 99.55 99.74 100.12 99.76
99.73
7,637 8,273 9,113 9,576 10,428 10,549 10,427 10,790
3,353 3,615 4,166 4,407 4,892 4,904
5,031
5,088
2,615
2,895 3,100 3,275
3,583 3,608 3,554 3,684
1,669
1,763 1,847 1,893
1,953 2,037 1,842
2,018
-0.4
-0.4
-1.2
2.6
-1.5
-9.6
0.3
0.
3.5
1.1
3.7
9.6
0.
-0.5
5.1
5.8
5.6
2.5
1.0
0.2
8.9
11.0
9.4
3.2
-0.3
0.2
-3.3
0.
0.2
0.7
-0.4
-0.1
-0.4
0.4
0.5
-0.1
-2.7
0.1
-17.6
0.6
1.0
-1.4
0.8
1.1
-3.1
2.3
1.4
4.6
21.6
43. L
41.3
-0.4
-4.7
3.2
-21.4
6.0
-2.0
-3.1
-2.5
-4.7
-10.1
3.7
-2.1
1.8
-2.4
-4.8
-19.9
-2.3
NA
2.37
NA
67i
Interest Rates:
119. Federal funds r a t e 2 ©
114. Treasury bill r a t e 2 ©
115. Treasury bond yields 2 ©
116. Corporate bond yields 2 ©
117. Municipal bond yields 2 ©
118. Mortgage yields, residential2 ©
67. Bank rates on short-term bus. loans 2 ©
*109. Average prime rate charged by banks 3 ®
L.Lg.Lg Percent..
do.
C,Lg,Lg
do.
C,Lg,Lg
Lg,Lg,Lg
do.
U.Lg.Lg
do.
Lg,Lg,Lg
do.
Lg,Lg,Lg
do.
Lg,Lg,Lg
do.
Outstanding Debt:
86, Consumer installment credit9
*72. Commercial and industrial loans outstanding,
weekly reporting large comm. banks
"95. Ratio, consumer install, credit to pars, income3
Lg.Lg.Lg Bil.dol., EOP
306.21 327.08 327.08 328.59 332.51 331.16 332.51
Lg,LgX9 Bil.dol
Lg,Lg,Lg Percent
164.51 182.24 191.22 200.26 210.28 210.30 213.61 214.4
14.15 13.21 13.11 13.06
12.97 12.95 12.95
NA
13.36
11.61
10.81
12.77
8.60
13.4
15.1
15.27
16.38
14.08
12.8'
15.48
11.33
16.31
19.56
18,87
13.59
12.0
13.23
16.01
12.54
16.61
17.23
17.01
0.
II. O T H E R I M P O R T A N T E C O N O M I C
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/A2
CPI, food
330.
331.
332.
333.
334.
Producer prices (PPI), all commodities©
PPI, crude materials
PPI, intermediete materials
PPI, capital equipment
PPI, finished consumer goods
1972=100..
1967=100..
Percent. . . .
1967=100..
do.
do.
do.
do.
do.
..
.,
..
..
..
178.6
246.8
1.0
254.6
195.5
272.4
0.7
274.6
201.6
280.7
0.4
279.3
203.
283.0
0.1
282.3
206.1
287.3
0.7
285.2
287.1
1.0
285.4
290.6
1.0
287.2
292.2
0.6
287.0
1
0
0.6
268.8
304.6
280.3
239.8
248.9
293.4
329.0
306
264
271.3
295.8
318.1
310.5
272.4
276.1
298.3
317.1
311.1
275.1
278.0
298.6
324.8
309.0
278.0
277.7
298.6
327.3
308.8
277.7
276.6
299.4
327.0
309.7
279.9
279.7
300.6
323.
311.0
281.2
281.3
0.3
-0.1
0.3
0.8
138.9
142.8
145.1
147.3
147.
148.0
148.
92.6
143.2
95,4
100.7
92.
147.4
95.1
100.2
93.0
150.1
96.1
100.0
93.5
152.3
96.4
100.3
93.
93.0
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
1977 = 100..
do.
do.
do.
do.
..
..
..
..
93.
130.
96.
98.9
C. Labor Force, Employment, and
Unemployment
441.
442.
37.
444.
445.
446.
Labor
• 451.
452.
453.
Total civilian labor forceTotal civilian employment
Number of persons unemployed
Unemployed males, 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
Millions . . .
do. ..
Thousands.
do. ..
do. ..
do. ..
Force Participation Rates:
Males,,20 years and over2
Females, 20 years and over2
Bothsexes, 16-19 years of age2
Percent. . . .
do. ..
do. ..
79.4
51.3
56.7
A.r., bil.dol.
do. ..
do. ..
do. ..
do. ..
do. ..
540.7
602.1
-61.4
385.9
357.8
28.2
79.0
52.1
55.4
78.9
52.3
54.6
78.5
52.2
54.2
78.9
52.7
54.1
79.1
52.8
55.7
78.8
53.0
52.4
78.8
53.
53.1
D. Government Activities
D 1 . Receipts and Expenditures
501.
502.
500.
511.
512.
510.
Federal Government receipts
Federal Government expenditures
Federal Government surplus or deficit2 .
State and local government receipts
State and local government expenditures
State and local govt. surplus or deficit 3 '..
517.
525.
548.
564.
Defense Department obligations
Military prime contract awards .
New orders, defense products . . ,
National defense purchases
628.2 625.7
688.2
727.4
-60.0 -101.7
416.8 421.5
385.0
392.4
31.7
29.1
609.0 613.6
728.3 736.0
-119.3 -122.4
424.2 434.1
396
401.9
27.7
32.3
D2. Defense Indicators
Mil.dol
do. ...
do. . . ,
A.r., bil.dol.
13 ,392 15, 945 16,124 19,613 18,694 17,786 17,503
6 ,754 8, 065 7,777 11,129 11,490 9,657 14,296
4 ,396 4, 855 4,919 6,950 5,462 4,775 5,437
131.4 153.7 166.9 166.2 176.1
Mil. dol.
do.
do.
do.
do.
. . . . .do.
18,390 19,456 19,067 18,681 18,294 18,218 18,822
3,435 3,608 3,466 3,358 3,420 3,527 3,332
3,788 4,456 4,236 4,132 4,033 3,957 4,211
20,771 21,751 21,777 20,756 19,752 20,558 21,310
6,139 6,319 5,747 5,165 4,137 4,027 4,823
2,030 2,190 2,289 2,373 2,319 2,896 1,798
NA
NA
4,639
-1.6
48.0
13.9
NA
NA
-14.7
E. U.S. International Transactions
E 1 . 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
NA
NA
NA
NA
NA
NA
3.3
-5.5
6.4
3.7
19.8
-37.9
NA
NA
NA
NA
NA
NA
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Series title
Unit
of
measure
Percent change
Average
1979
1st Q
1981
2dQ
1981
3d Q
4th Q
1981
1981
1st Q
1982
2dQ
1982
1981
3dQ
to
4th Q
1981
4th Q
to
1st Q
1982
1st Q
to
2dQ
1982
II. O T H E R I M P O R T A N T ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
618.
620.
622.
651.
652.
668.
669.
667.
Merchandise exports
Merchandise imports
Merchandise trade balance2
Income on U.S. investments abroad
Income on foreign investment in the U.S. .
Exports of goods and services
I mports of goods and services
Balance on goods and services2
Mil. dol.
..do.
..do.
, .do..
. .do..
. .do. .
, .do. ,
. .do.
46,118
52,955
-6,836
L6.O33
8,229
71,694
70,420
1,274
56,059
62,394
-6,334
18,171
10,694
85,526
83,451
2,074
59,064
66,036
-6,972
21,486
13,227
93,223
90,454
2,770
60,683
64,995
-4,312
20,528
12,405
93,280
88,613
4,667
60,284
66,831
-6,547
21,642
13,441
94,389
91,480
2,909
57,694
65,539
-7,845
22,048
13,865
92,965
90,406
2,559
57,593
66,778
-9,185
21,727
13,198
92,259
91,316
943
55,610 55,616
-0.2
61,669 60,733
1.9
-6,059 -5,117 -1,340
21,188
NA
-1.5
14,208
NA
-4.8
90,363
-0.8
NA
87,193
1.0
NA
3,170
-1,616
-3.4
-7.7
3,126
-2.5
7.7
-2.1
-4.5
2,227
0.
-1.5
942
NA
NA
NA
NA
NA
618
620
622
651
652
668
669
667
A.r.( fail. dol. .
....do...
1479.4
2417.8
L472.2
1650.2
L015.7
6,572
4,512
1474.0
2633.1
1479.0
1824.1
1018.0
6,475
4,472
1502.6
2937.7
1493.7
2029.1
1043.1
6,537
4,538
1507.8
2864.9
1505.4
1958.7
1035.0
6,583
4,519
1502.2
2901.8
1490.1
1996.5
1036.6
6,544
4,516
1510.4
2980.9
1493.9
2060.0
1048.8
6,563
4,557
1490.1
3003.2
1485.3
2101.4
1051.9
6,458
4,559
1470.7
2995.5
1486.1
2117.1
1046.9
6,360
4,527
1475.3
3041.2
1480.6
2154.5
1056.1
6,367
4,558
-1.3
0.7
-0.6
2.0
0.3
-1.6
0.
-1.3
-0.3
0.1
0.7
-0.5
-1.5
-0.7
0.3
1.5
-0.4
1.8
0.9
0.1
0.7
50
200
213
224
225
217
227
927.6 930.5 947.6 951.1 944.6 951.4 943.4 949.1 953.8
147.2 137.1 140.0 145.3 138.6 142.2 134.1 137.5 138.0
353.1 355.8 362.4 361.6 361.7 363*0 363.1 362.2 364.6
427.3 437.6 445.2 444.2 444.3 446.2 446.2 449.5 451.2
1507.2 1667.2 1843.2 1799.9 1819.4 1868.8 1884.5 1919.4 1945.8
213.4 214.3 234.6 236.9 230.4 241.2 229.6 237.9 240.2
600.0 670.4 734.5 720.6 729.6 741.3 746.5 749.1 755.0
693.7 782.5 874.1 842.4 859.4 886.3 908.3 932.4 950.6
-0.8
-5.7
0.
0.
0.8
-4.8
0.7
2.5
0.6
2.5
-0.2
0.7
1.9
3.6
0.3
2.7
A. National Income and Product
A 1 . G N P a n d Personal Income
50.
200.
213.
224.
225.
217.
227.
GNP in 1972 dollars
GNP in current dollars
Final sales, 1972 dollars
Disposable personal income, current dollars . . .
Disposable personal income, 1972 dollars
Per capita GNP in 1972 dollars
Per capita disposable pers. income, 1972 d o l . . .
. .do. .
. . . .do...
.......do...
A.r., dollars.,
do...
A 2 . Personal Consumption Expenditures
231.
233.
238.
239.
230.
232.
236.
237.
Total, 1972 dollars
Durable goods, 1972 dollars
Nondurable goods, 1972 dollars . .
Services, 1972 dollars
Total, current dollars
Durable goods, current dollars
Nondurable goods, current dollars.
Services, current dollars
A.r., bil. dol.
do..
.......do. .
. .do.
..do.
. .do.
..do.
..do.
231
233
238
239
230
232
236
237
A 3 . Gross Private Domestic Investment
241.
243.
30.
240.
242.
245.
Total, 1972 dollars
Total fixed investment, 1972 dollars
Change in business inventories, 1972 dol. 2
Total, current dollars
Total fixed investment, current dollars . . .
Chg, in bus. inventories, current dot.2
236.3
229.1
7.3
423.0
408.8
14.3
208.4
213.3
-5.0
402.3
412.4
-10.0
225.8
216.9
9.0
471.5
451.1
20.5
221.6
219.2
2.4
455.7
443.5
12.2
229.5
217.4
12.1
475.5
450.9
24.6
233.4
216.9
16.5
486.0
454.2
31.8
218.9
214.1
4.8
468.9
455.7
13.2
195.4
210.8
-15.4
414.8
450.4
-35.6
201.0
206.3
-5
429.7
447.0
-17.4
-6.2
-1.3
-11.7
-3.5
0.3
-18.6
-10.7
-1.5
-20.2
-11.5
-1.2
-48.8
2.9
-2.1
10.1
3.6
-0.8
18.2
241
243
30
240
242
245
..do.
..do.
..do.
. .do.,
..do.
..do.
278.3
102.1
176.2
474.4
168.3
306.0
284.6
106.5
178.1
538.4
197.2
341.2
287.1
110.4
176.7
596.9
228.9
368.0
286.8
107.9
179.0
578.1
217.0
361.1
283.9
107.0
176.9
583.2
218.2
365.0
286.4
110.7
175.7
600.2
230.0
370.1
291.3
116.0
175.3
626.3
250.5
375.7
289.2
114.4
174.9
630.1
249
380.4
284.7
109.8
174.9
630.6
244.5
386.0
1.7
4.8
-0.2
4.3
8.9
1.5
-0.7
-1.4
-0.2
0.6
-0.3
1.3
-1.6
-4.0
0.
0.1
-2.1
1.5
261
263
267
260
262
266
..do.
. .do.
..do.
. .do.
. .do.
. .do.
146.2
109.0
37.2
281.4
268.1
13.2
159.2
108.6
50.6
339.2
314.0
25.2
158.5
116.4
42.0
367
341
26.1
159.3
111.1
48.2
365.4
334.2
31.2
159.7
115.5
44.2
368.9
345.1
23.7
157.8
118.7
39.2
367.2
341
25.9
156.9
120.4
36.5
367.9
344.4
23.5
151.7
114.7
36.9
359.9
328.6
31.3
154.0
118.3
35
365.3
330.2
35.1
-0.6
1.4
-2.7
0.2
0.9
-2.4
-3.3
-4.7
0.4
-2.2
-4.6
7.8
1.5
3.1
-1,
1
3.8
256
257
255
252
253
250
1966.7 2117.1 2352.5 2293.7 2324.4 2387.3 2404.5 2396.9 2425.1
1458.1 1598.6 1767.6 1718.0 1750.0 1789.1 1813.4 1830.8 1850.6
132.1 116.3 124.7 123.4 123.8 127.5 124.1 116.4 118
194.8 181.6 190.6 200.3 185.1 193.1 183.9 157.1 154.9
33.9
33.6
34.2
34.4
33.6
27.9
33.9
34.0
32.9
153.8 187.7 235.7 217.6 231.6 244.0 249.5 258.7 267.4
0.7
1.4
-2.7
-4.8
0.
2.3
-0.3
1.0
-6.2
-14.6
0.9
3.7
1.2
1.1
1.5
-1.4
0.9
3.4
220
280
282
286
284
288
482.4
367.0
122.0
-7.6
6.1
-2.8
2.6
18.0
-48.0
1.0
-10.0
-2.0
-12.3
-19.1
-0.9
3.8
1.2
7.4
1.5
0.3
290
295
292
298
293
.
.
.
.
.
.
.do. . . .
.do....
.do....
.do....
.do. . . .
.do....
A 4 . 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 dol
Net exports of goods and serv., current dol. 2
A 5 . Foreign Trade
A 6 . National Income and Its Components
220.
280.
282.
286.
284.
286.
National income
Compensation of employees
Proprietors' income with IVA and CCAdj
Corporate profits with IVA and CCAdj . .
Rental income of persons with CCAdj . .
Net interest
290.
295.
292.
298.
293.
Gross saving (private and govt.)
Business saving
Personal saving
Government surplus or deficit 2
Personal saving rate2.
. .do.,
..do..
. .do.,
. .do..
. .do..
. .do..
A 7 . Saving
. .do.
..do.
..do.
Percent .
422.7
310.6
96.7
14.3
5.9
406.2
332.1
106.2
-33.2
5.8
477.5
374.5
130.2
-28.2
6.4
461.4
362.7
105.9
-8.3
5.4
490.0
379.1
134.4
-24.5
6.5
476.3
389.1
158.6
-72.5
7.5
428.8
381.2
139.1
-91.6
6.6
444.9
385.6
149.4
-90.1
6.9
NOTE: Series are seasonally adjusted except tor those indicated by <S>, 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 SCO. 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 * capitaf consumption adjustment. NIA = national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
2
Differences rather than percent changes are shown for this series.
3
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all turns: L » leading; C * roughly coincident; Lg * lagging; U = unclassified.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.
6
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart A l . Composite Indexes
(July)(May)
(Nov.)(0ct)
P T
(Aug.)<Apr.)
(Dec.XNov.)
(Apr.)(Feb.)
(Nov.) (Mar.)
(Jan.)(July)
9 1 d Jindex o f T O v e leading indicators
|(wrie$iM«,12|l19(2B,29ll32(36fI92,l
. Index of four roughly coJnridentJBicators
1
(sines,41, 47, 51, 57)
82,7^72,91,95,109)
i imliftf$
JII'I
ilBiijI'
'i i
iMbn
i iiTO'ini
r
jJL
I
ll n i l j L n
ill
M i l
I1
I
".iBBBI n.j^.Ji.fLJ'LJUIJUIA?JL.=UT..nJL:I.J-...
1 9 4 8 4 9 SO 5 1 5 2 S 3 S 4 S i 5 6 S 7 5 8 S 9 6 0 6 1 S 2 6 3 6 4 6 5 6 6 6 7 6 8 6 9 7 0 7 1 7 2 7 3 7 4 7 5 7 6 7 7 7 8 7 9
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
81 821983
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A l . Composite Indexes—Continued
(Aug.)(Apr.)
P T
(Jan.XJuly)
P T
(Apr.)(Feb.)
FT
r
_ q f j f l 3 . Marginal sitoploymeiif Adjustments (series l t 2, 3, 5)
914.|iapitalin
commitments (series 12, 20,
1
915. S iventory inVesflntiand Khasing (series 8, 32, 36, 92)
-8
.
916. Profitability (series 19, 26,
17. Money i l l fin
(series 104,106,110)
—
Ratio, coincident index to lagging in
1948 49 50 51 52 53 94 55 9© 57 58 59
61 62 63 64 65 66 @7 68 if
81 821983
NOTE: Numbers entered on the chart indicate length of leads ( - ) and lags ( + ) in months from reference turning dates.
Current data for these series are shown on page 60.
BCII
AUGUST 1982
11
CYCLICAL INDICATORS
A
I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
(Nov.)(Oct.)
P T
(iuly)(May>
P I
1.
(Aug.)(Apr.)
P T
(Apr.)(Feb.)
P T
*
(Dec.)(Nov.)
P T
(Nov.) (Mar.)
P
T
(Jan.)(July)
P T
Averagliforkwee^p-oduction workers,
manMfaHring (hoft)
fiTI
s and materials, 1972 dollars
32. fflffdor performance, percent of
eries (percent) i
12.Wet business formation (index: 1967
20llontracts and
iers for n h t and equipment
1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65
©7 68 S9 70 71 72 73 74 75 76 77 78 79 80 81 821983
Current data for these series are shown on pages 61, 64, 65, and 66.
12
AUGUST 1982
ItCII
CYCLICAL INDICATORS
IA
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
<Nov.)(0ct)
P T
(Jiily)(May)
P T
<Aug.)(Apr.)
P T
(Apr.XFeb.)
(Dec.)(Nov.)
P T
PI
I
i
'
I
'I
ii
ii
i!
i
Ii
(Nov.) (Mar.)
P
T
(Jan.)(July)
PT
vate housing units (index: 1967 =
I
! ~ — i
I
il
ll Lf f i ' f OJJ L I ' l ' L n ' l j i ' n J ' r r j u L j i J I i i n J I f l l J nilil I L U ' J f ! n i ! i i l H
'il'u'iL
' n a i 1 L i i i u \ Lift
1948 49 50 51 52 53 94 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 79 76 77 78 79 80 81 821983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, and 71.
ItCII
AUGUST 1982
13
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
(Nov.)(Oct.)
P T
(July)(May)
(Aug.)(Apr.)
(Apr.)(Feb.)
P 1
P T
PT
(Dec.)(Nov.)
P T
(Nov.) (Mar.)
P
T
on rwnagrkuttiiral payrolls (jtMons)
51. Personal N » $m tra
1972 dollar J i n n , rate,
1948 49 50 51 52 53 54 55 66 57 58 59 60 61 62 63 64 69 66 67 68 §9 70 71 72 73 74 7S 76 77 78 79 80 81 821983
Current data for these series are shown on pages 62, 63, and 65.
14
AUGUST 1982
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
(Nov.XOct.)
P T
(July)(May)
P T
(Aug.)(Apr.)
P T
(DecXNov.)
PI
(Apr.)(Feb.)
P T
(Nov.) (Mar,)
P T
<Jan.)(July)
P T
it Average llration o&rtemployment (weeks—inverted scaled
ctuiing m trade inventories, 1972 dollars (b
,
,
,
|!
i
|
outputj manufacturing (index:
| 109||iverage ptine rate charged by banks (percent W
|l
j|
MM
and inipria loans outsti
ge coipercial banks (btl. dol.)
. Ratio, consumer installment ere
19484® 50 51 52 53 54 55 56 57 58 59 60 01 62 63 64 65 66 §7
81 821983
Current data for these series are shown on pages 62, 68, 70, and 73.
BCD
AUGUST 1982
15
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart B l . Employment and Unemployment
(Aug.) (Apr.)
P T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P T
(Nov.) (Mat)
T
(Jan.) (July)
P T
4241403938-
workers, manufa><ipn£ (hours)
e?ertime hours, pr
acturing (per l M M l o y M s )
2. Accession rate,
5, Average weekly initial claims, State un
-inverted scale)
30C-
7IM"-
. Layoff rate, manufacturing (per 1
4i Quit ratei mamrfacturing ( M O O employees)
ii
1956 57
58
59
60
• jl
61
il I i I Ji '
62
63
J i ' i L
64
65
'
J
66
I
' 1 I'
67
i
68
'
l ^ J t
69
7©
Current data for these series are shown on page 6 1 .
16
AUGUST 1982
BCII
CYCLICAL
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B l . Employment and Unemployment—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
FT
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Jan.) (July)
P T
•r v
60, Ratio, help-wan
of persons unen
rtising to number
(ratio)
, 46. Help-wanted advertising (index:
48. Employee-hours in r^|ricultural es
(inn. rate, bit.
U,C,C
42. Persons engaged irilSagricultural
al payrolls (millions)
40. Employees in
|
manufacturing, coriMfction (millions)
1956 57
98
S9
60
61
62
§3
64
§9
70
71
72
73
74
75
76
77
78
79
80
81
83 1983
Current data for these series are shown on pages 61 and 62.
AUGUST 1982
17
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B l . Employment and Unemployment—Continued
(Aug.) (Apr.)
P T
(Dee.) (Nov.)
P T
(Apr.) (Feb.)
P T
(Jen.) (July)
(Nov.) (Mm.)
P
T
FT!;
io, civilian employment to total population of w
NTtZJ
CoiwiRhensjve \)nwm oyment
37. Number unemployed, total
43. Unemployment rate, total (pffent—inverted $c
UP
45. Average weekly insured unemployment ral ™ r cent—inverted!
91,
Average duration of une
Unemployment rate, persons unemployed 15
1956 57
98
59
60
SI 62
71
72
73
J4
75
76
77
79
80
81
82 :i983
Current data for these series are shown on page 62.
18
AUGUST 1982
IICII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P T
(Nov.)
P
(Dec.) (Nov.)
P
T
(Mar)
T
(Jan.) (July)
P T
1
i-
1
1700-
i
1600mtmtmm*mmmm
1
50. GNP in 1972|p|rs, Q
i
'
1500-
1
i
i—^^^rr....... J
; 113
1
,i',:
IT
t
•
r
''
t
i
1400-
j
1300-
1
i
j1
I.
1200-
1'
11001000-
'•
90014001300-
52.
1200-
Idol.)
Personal income ii
noo-
I
1000i i '
I
i|
i
I.
i
900-
;r
800-
—\—
700-
;
i
ji
•i
i
!;
ii
51.
>
i
ii
;»
i
53.
I
Wages and
constructio
1
ii
I'
i
incf and
1. dol.)
es in mining, ma
972 dollars ,(annj
n
(i
ii .
i!
i
i
i
|
(
:
1100-
p
1i
I
I
iij
|i
900ij •
.
80H700\"
i
i!
600-
: ii'
i
i
1000-
it ••
!
1
1;
1200-
In
!i
1972 dollars
j$s transfer pay
Personal!
(arm. rate,!
•
i
ii
|
•
•
!|
,
j! .
500 -*
,
j : • • !|
• |j
i • . , il .
!i . .; .
260240-
!
i!
i
220-
!• 1! ' 10
;
i!
:
57
58
59
60
61
62
63
64
155
66
67
68
69
70
71
72
73
74
75
180"
^
||
1956
200-
|i
76
77
I
1
|!
jj
;
ij
78
ii • ' S •
:
il'
II •
il
160-
! | ij -
140-
;i
79
80
i
81
Ii
-
8 2 1983
Current data for these series are shown on page 63.
BCD
AUGUST 1982
19
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income—Continued
(Aug.) (Apr.)
P
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
T
P
T
«••
~~ '
ii
(Nov.)
(Mar)
P
T
~
(ian.)(Ju!y)
P T
•1
m
47. Industrial preduction, total ( i w « 9 € 7 - 1 0 0
1956 57
58
59
60
61
82
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
81
83 1983
Current data for these series are shown on pages 63 and 64.
20
AUGUST 1982
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Jan.) (July)
P 1
(Dec.) (Nov.)
P
T
1D09080-
current dollars (bit dol.)
706050-
New orders, durable goods industries, 1972 dollaH
1
IWdoL)
|| X
'
'
40-
^
30J
45-
8. New orders for consumer goods and imate
in 1972 dollars (bil.
.40353025-
le goods industri
term)
25. Change in unfilled orders,
(bil. dol.; MCD moving av
LLL
+4-
-2-
380-|
340300260220-
96. Manufacturers' unfilled orders, d
(bil. dol.) i
180140-
100-
60-
32. Vendor performance,
receiving slower deliv
of companies
cent)
100-
L
7550-
1956 57
98
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78 7§
81
82 1983
Current data for these series are shown on page 64.
BCII
AUGUST 1982
21
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(kn.) (July)
PT
(Dec.) (Nov.)
P
T
380 - |
l£J
3403002S0-
220180-
56. Manufacturing ami trade
(ML
140ing and trade safes
(hi dol.)
1303030-
54. Sates of retail s t o n H f current dollars (
§3*
of retail stores m 1972 dollars
80-
30-
expenditures,
(am. rate, bii. dol)
1C0*-
50 J
1956
57
98
59
SO
81
62
S3
64
65
79
71
72
73
74
75
76
77
78
79
80
81
82 IMZ
Current data for these series are shown on page 65.
22
AUGUST 1982
KCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
I
(Mow.)
P
(Mar.)
T
(Jan.) (July)
P T
160140-
ForflBon of Busi
12. Net business fmnatidrflUdex: 1 9 6 7 - 1 0 0 > y f f t J
120100 J
55-
so-
13. New business incorppr&iofis (thousands)
a I. .
4540«
35-
f^7-
30-
^r*
25353025-
iflvestmeBilmmitments [
15-
10-
30-
C ( M w t s and orders for
in I l r e n t dollars (bil.
25-
15-
10-
Manufacturminew orders, capital goods industries,
nondefenseSp72 dollars (bit. dol.)
turers' new orcM|H|pital goods industries,
11010090706050 «
9. Construction contracts, comme
(mtl. sq tt. of floor area;
40-
LCl)
1956 57
98
9®
60
61
S2
63
64
65
82
1983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on pages 65 and 66.
I
AUGUST 1982
23
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
(Fe
P
T
(Aug.) (Apr.)
P T
(NOT.)
(Mar.)
(Jan.) (July)
P
T
P I
II
1956 57
58
59
80
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 66 and 67.
24
AUGUST 1982
ItCIt
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Dec.) (Nov.)
P
T
(Jan.) (July)
P T
200-
B u s l l s Investmerfflllpenditures—Con.
180*
idential fixed investment in 1972 dollars, Q (ann. J ^ g bil. dol.)
160140120-
100-
88.
Producers'durable
80"
5
60-
40«
Commitments and Investment 1
28. New private housing
2.6-
Life
2.422°
2.01.81.61.41.21.00.8-
29. New buying permits, priv
20018016014012010080-
60-
89. Residential fixed
(ann. rate, bik do
7060-
S0S
40 -
1956 57
59
SO
SI
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for
itcn AUGUST 1982
25
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(DQC.) (Nov.)
(Nov.)
T
P
(thf.)
T
30. Change in business mventories,liS2 dollars, Q
36. Net change in inventories on
(ann. rate, foil, dol.; moving a
31. Change in book value, manufacturing and tr
(ann. rate, bit. dol.; MCD moving avg.—6-t
Change in stocks of materials and supplies o n | H p and on order
manufacturing (bit. dol.; MCD moving a v g . - 4 | | § ) ,. .
Ahym
19S6 97
S8
72
73
74 7§
70
77
78
79
80
31
82 19S3
'This 1$ a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 68.
26
AUGUST 1982
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment—Continued
(Aug.) (Apr.)
P T
i j
llnvl
(Apr.) (Feb.)
P T
'M
JHanjgiId
i 0£ L
(Dec.) (Nov.)
P
T
(Nov.)
F
(Mar.)
T
(Jan.) (July)
P T
on Order
•«>«• U J
[
i
i
I
!!
Ii I
,
'
!
,
7 L Book va
!i current
Nnufac'turing ;
'
il)
600-1
550500450400-
nventdriel
350300-
I •
i
i
I1
ii
;:
ring and trade inventories, 197? dollars (bil. dol
250-
200-
II IU,Lf,lLfl
150100"!
00807060-
65. Book value of ma
of finished goods
iLg.Lglg
rrers' bventoriesi
50-
30-
J
20
77. Ratio, deflated in
(ratio) |Lg,L
^-ies to sates, maii^Hfing and trade
1.81.71.61.5-
1 '•; !i
78. Stocks of materials and supplies •
I manufacturing (bH. dol.) ( 7 7
JS
I1
%
on order.
260-1
240220200180160140-
100-
80-
1 ' ' • '%
601
81
32 1983
Current data for these series are shown on page 68.
ItCII
AUGUST 1982
27
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
(Jin.) (July)
P T
(Aug.) (Apr)
T
(percent; moving avg.—4-t
b±t
23. Spot market prices, raw industrials2 (in
OIL
19. Stock prices, 500 common s
L
16. Corporate
(ann. rat
ate profits after taxes, 1972 dollars, Q
, rate, bil, dol.)
X
80. Corporate profits after
1972 dollars, Q (arm.
with IVA and C
. dot
79. Corporate profits after taxes
current dollars, Q (ann. rate,
1956 57
58
99
60
61 62
63
64
65
66
67 68
69
70
71
72 73
74 75
76 77
79
80
81 82 21083
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
'Beginning with data for June 1981, this is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
Current data for these series are shown on page 69.
28
AUGUST 1982
ItCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Jan.) (July)
P T
P r o l i a n t ! Profit Wins—Con.
iatio, .corporate flfff1 (after taxes)
14-
12*
10-
8-
6-
10-
8-
profits (after taxes) with inventory valuation
ion adjustments to total corporate domestic
n t ) n !•• i • i
'
'
i
6-
4-
2-
15. Profits (after taxes) per dollar of
753-
26, Ratio, price to unit labor cost,
102100989694-
320280240200-
160-
35. Net cash flow, corporate, in 197
120-
80-
34. Net cash flow,
(ann. rate, bil.
40 J
1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 1983
Current data for these series are shown on pages 69 and 70.
AUGUST 1982
29
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Dec.) (Nov.)
P
T
(Jan.) (July)
? T
Hi
1 ^ 1
!
I
::
?
ii
!;!: :' y:
:
' ,; ,** |fli|
i t " !»!x^
wt
:
•L>T i 1
i 63. ijUft labor post, private business
I
limm 1977—100)
1
ii
jl :!
H
'•
l
•
-
' i'
' >^
Labor cost (current M a r s ) per unit of gross j
(1972 dollars), rwnfimncial corporations,
]
1
Ii "
!:
•
"
Ml
n
>
!i
Labor cost per unit of output, manufactu
r
I1
(64. Compensation of employees as a percent of g w i a l income,
"I^rl
Hi ^'^ i;
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
1
81
82
1983
Current data for these series are shown on page 70.
30
AUGUST 1982
BCD
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
(Aug.) (Apr.)
P
T
(Apr) (Feb.)
P
(Dec.) (Nov.)
T
P
(Jan.) (July)
T
P T
ent; MCD moving avg.—6-term)
Change ill money supply M2
(percent; MCD moving avg.—64erm)
Change in total liquid assets (percent; moving aifjM-term1)
K
^
Money supply~Ml~in 1972 dollars (bil. doi.)
106. Money $upply^-M2-in 1972
107. Ratio, GNP to
1956 57
y supply Ml, Q i
58 S9 SO 61 02 63 64 65 66 67 68 69
81
82 1983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 7 1 .
IMJI
AUGUST 1982
31
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T
(Mar.)
T
(Apr.) (Feb.)
P T
(Jan.) (juiy)
P T
33;; Change in mortgage debt (ann. rate, bil. doi.)
112. Change m bank loans to businesses (ann. r le, bil. dol.;
MCD moving avg.~6-term)
113. Change in consumer installment credit
110. Total private borrowing, Q (ann. rate, bil. dol.)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
81
82
;i§83
Current data for these series are shown on pages 7 1 and 72,
32
AUGUST 1982
ItCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Hm.)
P
(Dec.) (Nov.)
P
T
(Mar.)
T
(Jan.) (July)
P T
ICrfJDifficulties
14. Current liabilfe of business f a i i u r H i l dol.inverted scale; MCD moving avg.-
i. Delinquency rate, 30 days and over, consumer installme
j! (^ercerit—inverted scale!) •
! lt
!
iBalieserveslli g;
93. Free reserves (bil.
LILU
94.
1956 57
Member bank borrowinj||brn
the Federal Reserve ( B o l . )
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 72.
BCII
AUGUST 1982
33
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
(Dec.) (Wow.)
P T
(Apr.) (Feb.)
PI
PI
(Nov.)
P
(Mar.)
T
P T
\ 111 1
ybiMfalf
i!
i
,•
s
/
m
fr
m
j!
j,
B
:
\
M
-i
m
cent)
'ui nil
58
1956 57
59
60
61
62
63
§4
Si
70
71
72
73
74
79
' • 1
76
77
78
79
80
81
82 11983
Current data foi these series are shown on pages 72 and 73.
34
AUGUST 1982
ItCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Dec.) (Nov.)
FT
(Jan.) (July)
PT
H i . . .
!
i
21-
1
i
i
"i
I
'
i
)
f
1
—
20-
1IIT1
11
19-
II
wm • I
i
1
1 ,fnl
L
I
1
16-
1
1
7
%
\
IE
a—
15141
tr--
n\
67, Bank rates on short-term business idflBtlpercent)
E
•
-f-
r
cent)
11II
mmmmm
1
[|
1
^
imaiiwIf
—
r
i
-
—
fr'1
.1
II...
•
HI
:•-#'
\iumwm
—
••'•'!'
IMMMM
WMMrtW
1
109. Average prime|ie charged by bai
8
1
I1
! ' S
[riding I
220180
mmmmm
IIIIIM.MM
—
] [
1
66.
do!,)
Consumer
1
.
M M M
I
140-
ii
r
1
-
1/^
|
12. jComniercia
1817-
I industrial loans i
weekly r e p I B i 1 large commercii
IbanU
——
T 1 ~H—1
II
MMMMM
]
i|
MWMMMI
t
W^HMM
95.
Ratio, con
al It
1
^
^
MMM
mmamt
—4
F1•
tMMTMM
80-
•M.M.I
M M M M M M
1-]
1
t
|
!
I
L_
1
l
II
1
H
"I
'teMMM.
Current data for these series are shown on page 73.
AUGUST 1982
35
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE
Chart C l . Diffusion Indexes
(Aug.) (Apr.)
P
T
(Dec.) (Now,)
P
T
(Apr.) (fib.)
P
T
!
(Jan.) (July)
P T
950. Twelve leading indicator comp
50-
50-
0-
952.
Six lagging indicator ctrnipofients ( J H ' span—, I
100-
§0-
Average workwetk, production workers, mamifai^Bg-* 20
span—«, 1-mo. span
100-
Initial claims, State uiremploymant insurance—51^8$ (percent (tec
, span—, 1-mo. span1(0-
M
t
i
59-
Employees on private nonagrieutWaJ payrorts-17^B6 industrms (6
—-, 1-mo. span—)
1001
50-
0J
1956 57
58
59
60
61
62
63
64
65
66
67
63
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1933
Current data for these series are shown on page 74.
36
AUGUST 1982
KCII
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C l . Diffusion Indexes—Continued
(Aug.) (Apr.) '
P T
(Apr.) (Feb.)
FT
(Dec.) (Nov.)
P
T
(Jan.) (July)
P T
. New orders, durable goods industries—34-35 industries (9-mo. span
100-
ME A <MM [M
50-
0-
5. Newly approved capita! appropriations, deflatec%^|7 industries ( 4 - Q l i | f i f avg.*~,| 1-Q span---*)
90-
705030-
100-|
50-
Spot market prices, raw industrials—13 industri»|terials (9-mo. s
100-
50-
0-
I 968. St<ick prices, 500 common stocks—52-821
100-
50-
0-
960. Net profits, manufacturing
90-
70-
50-
30 J
1956 57
58
59
60
61
62
63
64 65
66
67
68
69
70
71
72
73
74 7S
76
77
78 79
80
81
82 1983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current data for these series are shown on page 75.
BCI»
AUGUST 1982
37
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C l . Diffusion Indexes—Continued
!
(Jan.)Uu;y)
P T
(Mar.)
T
r
| Percent ri
sss expenditures for new
ent—22 industries (1-Q
97
H
nt and
an)
ctual expenditures
\
-(b) Later antkipatkwii
tual expenditures
V
Jt*
(c) Early antw
1
97:
I orders, manufacturing
it
7C-
972,
(4-Q span)1
fpfits, manufacturing and tr
,*'.
50 J
$0-
90'
100-
^
v^v
J
tales, manufacturing and traB (4-Q span)1
973
978.
S H H I ces, retail trade (4-Q sp
J\/:
1971 72
73
74
75
76
77
78
79
80
81
82 1983
1971 72
73
74
75
76
77
78
79
80
81
82 51983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc. Dun & Bradstreet diffusion indexes are based on surveys of about
1,400 business executives.
Current data for these series are shown on page 76.
38
AUGUST 1982
ItCII
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
(Aug.) (Apr.)
P T
(Dec.) (tow.)
P T
(Apr.) (Feb.)
P T
(Jan.) (July)
P T
1-month smarts ^ —
3-month s p a n s * —
910c. Composite index of twelve 3-acfmg indicators
series 1, 5, 8, 12, 19f 20 #£32,36,92,1104,1
920c. Composite index of four rougtiy i&incident indicator
(series 41, 47, 51, 57)!'
930c, Composite index of six la
(series 62, 70, 72, 91, 9
50c. GNP in constant (W2)
47c. Index of industrial p
48c. Employee-hours in nonagricultural
q. Personal! income less tr
payments in 1372 dollars
1956 §7
58
59
60
61
62
63
64
69
66
®7
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in which the data for each series were published.
AUGUST 1982
39
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT
Chart A l . GNP and Personal Income
(Aug.) (Apr.)
P
T
r
I
•••
•'
^11
1•1 •
H
1
•
(Nov.)
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P T
i
(Mar.)
(Jan.) (July)
f T
'
•
pfi ;"
•••VW"
•
"
.
"
^
•
m.
;
•
$
•
*
i
r
kmrnrnmt
V
800-
•i
I personai income in cm%
iv-.-v*;!
( m
w>
rate, b9. dol.)
HI00H:00-
50.
uoo13001200-
1600151)014(101300-
1972 * • Q (m
213.
12C011C010G0-
in 137?
, rate, bi. dol.)
ous. dol.)
' 'I M!./l!La.'UlJLri JU1
1956
57
58
59
60
61
62
63
€4
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
983
Current data for these series are shown on pages 63 and 80.
40
AUGUST 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
(Nov.)
P
(Dec.) (Nov.)
F
T
(Apr.) (Feb.)
P
T
(Aug.) (Apr.)
P T
(Mar.)
T
Ji I
1956 57
58
99
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 80 and 8 1 .
KCII
AUGUST 1982
41
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
(Aug.) (Apr.)
(Nov.)
P
(Apr,) (Fat)
FT
P
T
(fen.) (July)
p y
(Mar.)
T
I Annual rate, bSton dollars < rrent) I
stic investment—
242.
Total M
investment, Q
Annual rate, bilon doltarjp972) |
243.
1956 57
58
59
60
61
02
63
64
65
I H f i x e d investment,,!
70
71
72 73
74 79
76
77
78 79 80
81 82 1S83
Current data for these series are shown on page 8 1 .
42
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P T
(Dec.) (Nov.)
P T
(Jan,) (July)
P T
(Nov.)
r—T-i|"l""
[i
| Annual rate, billion dollars
intent)
l&vernment d i | f ases of goods and services—
700660620580540500460420-
§
380i
340i
300-
'
II
260220-
t
p
y^
180-
266.
s, Q
gove
140-
100-
[262. Federal i
60-
[ Annual rate, bi^on dotia
(1972)]
340300260-
220-
267.
180-
state
140-
100-
263W8deral Governmen
1956 57
58
99
60
61
62
63
64
65
66
SJ
68
69
70
71
72
73
74
79
76
77
78
79
80
81
82 1983
Current data for these series are shown on page 8 1 .
AUGUST 1982
43
OTHER IMPORTANT ECONOMIC MEASURES
I A I
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
(Aug.) (Apr.)
f
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P T
(Jan.) (July)
P T
256. Exports of g w K p d services, Q
+20+10-
19S6 57
98
59
60
61 62
63 64
66
67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 1983
Current data for these series are shown on page 82.
44
AUGUST 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
(Aug.) (Apr.)
P
T
(Dec) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Jan.) (July)
P T
(Mar.)
T
20-
10-
i A !i JL i L J C J J I K . fLJiJUJI A / i H H I i t JL JI JLJIJLJLILJLJLAJ i JL JULJ LJULJL JUJU LJl.il Jl J L'L JIA11 JUL JL . B B H Jl Jl j LJ L iU LJ f IJ Li 1. fL J J B H l l u L JU U Jl A. i L A JI JULjl A Jl. J l j LJlJlBl IIJ Li__ J i J . - JL, .. u
1956 57
53
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
32 1983
Current data for these series are shown on page 82.
ItCII
AUGUST 1982
45
OTHER IMPORTANT ECONOMIC MEASURES
I A I
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
(Aug.) (Apr.)
P
T
(Apr.) (Fell.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Jan.) (Inly))
P T
km&.
-
Mw
'fyp;
:
rT •
koss s
!
i
'
i
150-
i 1
:
• !•
;
200-
i
1
•i1:'
•
" ]
';
t
^
100-
/I,,.
1
60-
40-
291
it
l
!
I
:
1
!;
1
!
!
.
i,
j
S3. Personal s
!
Irate,
i
! 1
'it
j;
j
; i , i.
1956 57
58
§9
60
61
62
63
64
6S
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 82 and 83.
46
AUGUST 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
IA
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
(Aug.) (Apr.)
P
T
(Apr.) (Fab.)
P T
(Nov.)
P
(Dec.) (Nov.)
T
(Mar.)
T
(Jan.) (July)
P T
70-
235. Pers|onal c o n s u | i j p expenditures, 0
65-
60 J
20State am) foe
of goods land
15-
purchases of goods and services, Q
10248. | Nonresidential fixed investrf—Q
ed vivas
47. Change In txjsmess inventories, Q
641 Compensation
70-
65'ith inventory vakiatfon
i adjustments. Q
15-
inventory valuation and
justmenis, Q
II
Corporate profi
capital cons
10-
585. R » j income of persons w th capital consumption a d j u t a n t , Q
-IS
1956 57
58 59 60 61 62 63 64 65 66
68
69
70
71
72
73
74
71
76
77
79
80
81
82 1983
Current data for these series are shown on page 83.
BCD
AUGUST 1982
47
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY
Chart B l . Price Movements
(Nov.)
P
(Mar.)
T
(Nov.)
P
(Jan.) (July)
P T
310c. Implicit!
(Mar.)
T
(Jan.)(iu!yJ
P T
eflator.
Irate!
I Percent change j
160
140-J
ce index, gross business
311c. Fixed
I
riuct (1-0 span)
n
Producer prices-
spans j
II 330c. Alt commodities
strial commodities
A
240
c. Crude materials
-10
332c. Intermediate
i
<
i
Mm
M
•
1
I-
materials
ISO
Capital equipment
J
m
334c. Finished consumer,
m
1971 72 73 74 75 76 77 78 79 80 81 82 1983
1971 72 73 74 75
77
78
79
SO 81
8^ 1983
Current data for these series are shown on pages 84, 85, and 86.
48
AUGUST 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B l . Price Movements—Continued
(Aug.) (Apr.)
P
_JL • •
(Dec.) (Nov.)
(Apr.) (Feb.)
T
P
P
T
T
(Nov.)
(Mar.)
(Jan.) (July)
P
T
P T
!l
C h a r t B 2 . Wages a n d P r o d u c t i v i t y
i
I !
341. Real average
workers, private
0. Average hourly earnings of production
private nonfarm economy (current dollars)
346. Real average hourly c
nonfarm business sect
compensation, alt employ
s Rector, Q (current
J
1956 57
58 59 60 il
64
8S @6 67 68 69 70 71 72 73 74 75 76 77 78 79
80
81 82 1983
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonally.
Current data for these series are shown on pages 84, 87, and 88,
AUGUST 1982
49
OTHER IMPORTANT ECONOMIC MEASURES
B
I
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
T
(Apr.) (Feb.)
P
T
(Nov.)
(Mir.)
T
(Jan.)(Ju!y)
P I
earnings of production
In avera£^urly compensation, all employees,
tor, Q -
6-mon
Current-doJIar compensation
. Real compensation
benefit decisions, all industries—
irst year average changes, Q (ann. r a t e ) —
Average changes over Hfe of
contract, Q (ann. rate)
hour, all persons,
buskiess sector, Q
r, an persons,
s sector, Q
370c. Change in output per hour, privat
I-quarter spans (ann. ratej;
1956 57
58
59
60
61
62
63
664
65
i6
67
68
69
9
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonally. 2One-month percent changes have been multiplied by a constant (12) to make them
comparable with the annualized 6-month changes. See page 87 for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88,
50
AUGUST 1982
ltd)
OTHER IMPORTANT ECONOMIC MEASURES
C
I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart C l . Civilian Labor Force and Major Components
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P T
(Dec.) (Hov.)
P
T
(Nov.)
P
(Mar.)
T
(Jan.) (July)
P T
441. Civilian labor force, tttai (oii
Labor f o r ^ participation rates (percent)—
451. MalesSiiyears and over jbHi;
445. Females 20 years
and ovter Vj
unemployed, full-!
(miions)
oyed part-time for i economic
1956 57
58
99
60
61 62
63
64 65
66
67
68
69
70
71
72
73
74 75
76
77
78
79 80
81 82 1983
Current data for these series are shown on page 89.
AUGUST 1982
51
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Chart D l . Receipts and Expenditures
(Aug.) (Apr.)
P
T
(Apr,) (Feb.)
P
T
L
1956
57
58
59
60
61
(Nov.)
P
(Dec.) (Nov.)
P
T
62
63
64
65
66
67
(Mar.)
T
(Jan.) (July)
P T
JLJL II JLJULII
68
69
70
71
72
73
74
75
76
77
78
79
80
31
82 1983
Current data for these series are shown on page 90.
52
AUGUST 1982
BCD
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P T
(Dec.) (Nov.)
P
T
(Jan.) (July)
P T
26i
24222018161412-
Adfifle Measures
10-
16141210-
2
1301201101009080-
70605040109876-
54-
3-
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
81
82 1983
Current data for these series are shown on page 90.
BCII
AUGUST 1982
53
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
(Aug.) (Apr.)
P T
(Dec.) (Nov.)
P
T
[ Mea$u res jof Defanse Activity | |
j
];
!
(Nov.)
P
(kn,)(kly)
f 1
(Mm.)
T
I
b ? , butp^t of
: 1^67-100)!
space<
ii
!
'
1301
120110100-
!
jl
::
1
so-
LZT
8070-
!
. ,161
t
ij
?
-
1412-
/
:
16-
10-
559. Manufacturers'!
(bl. dot.)
ies, defense i
8-
6-
10090-
J VX
80/060-
t\
561. Manufacturers' K d orders, de
40-
3018-
01
580. Defense D
! assistance (bilJ
161412-
net outlays, r
MCD moving
and mitary
10-
6-1
5,5 n
5.04.54 0-
588. Manufacturer
; (bil
\$\ defuse j
| 4 t
39*
3.02,3-
2.9-
1.3
1956 57
98
59
60
61
03
63
64
65
66
67
68
69
70
71
72
7Z
74
79
76
77
78
79
80
81
J
82 1983
Current data for these series are shown on page 91.
54
AUGUST 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Jan.) (July)
P T
(Mar.)
T
ea$jure$ ,of Defense ftctivity—Con.| ,
570., Employment in def
1.81.6"
1.4121.0
Defense Department personri
M i | i t a r y t ; » e duty
3.53.02.52.0-
578. Civilian, dire
1.5-
1.0-
0.5 J
220-1
200180"
160140-
564, Federal Government
1
defense, Q (ann.rat
120100-
80-
60-
_Ln ji ]I rL i l B i f t j i i' '' w
1956
57
58
59
' i5SBS- IL Juu'i iJ
60
61
62
Ln
63
'
J1 i 'L ^ "^ > M r r ' J
64
65
66
i
67
I P I 1 I M JSS^Tt
68
69
70
i
i »
"
71
72
i
JLJUUUU n
73
74
75
i JI J i n
76
77
!
78
31
32
1983
Current data for these series are shown on page 9 1 .
BCII
AUGUST
1982
55
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS
Chart E l . Merchandise Trade
(Aug.) (Apr.)
P T
1956 97
58 99
(Dae.) (Nov.)
P
T
(Apr.) (Feb.)
P T
60
61
62
63
64 69
66
67 68
69
70
71
(Nov.) (Mar.)
T
72 73
74 75
(Jan.) (July)
P T
76 77
78 79 80
81 82 1983
Current data for these series are shown on page 92.
56
AUGUST 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
(Aug.) (Apr.)
P T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
1
(Nov.)
P
(Mar.)
T
(Jan.) (July)
P T
1667, | Mam on gocwte mi
622. Merchandise trade balance
Experts,
1956 57
58
59
60
61
62
63
64
65
66
67
69
70
71
72
73
74
75
76
77
78
79
80
81
82 1983
NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.
ItCII
AUGUST 1982
57
OTHER IMPORTANT ECONOMIC MEASURES
F
I
INTERNATIONAL COMPARISONS
Chart F l . Industrial Production
(Aug.) (Apr.)
P T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P T
(Nov.)
P
(Jon.) (July)
P T
(Mar.)
T
•][
!
I
'I
i
Industrial productkm—
721.- OECD European countries
722. United Kkigckmi
47.; Unitid States
725. West Germany
MM Stiei
726. France - 4
47. United States
1956 57
§8
59
60
61 62
63
64 65 66
68
69
70
71 72
73
74 75
76
77
78 79 80
81 IB2 1983
Current data for these series are shown on page 94.
58
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
F
I
INTERNATIONAL COMPARISONS—Continued
Chart F2. Consumer Prices
(Nov.)
P
Chart F3. Stock Prices
(Mar.)
T
(Nov.)
P
(Jan.) (July)
Percent change at annual rate |
(Mar.)
T
(Jan.) (July)
P T
I Index: ;i967|H 1QO| j
I Stotk prices—
Consumer prices—
745. Wist Germany
735c. West, Germany
742. United Kingdom
1971 72
73
74
7S
76
77
78
79
80
81
82 1983
1971 72
73
74
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on pages 95 and 96.
AUGUST 1982
59
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Q |
Year
and
month
910. Index of
12 leading indicators (series
1. 5 , 8 , 12, 19,
20, 29, 32, 36,
92, 104, 106)
920. index of
4 roughly
coincident indicators (series
41, 47, 51, 57)
930. Index of
6 lagging indicators (series
62, 70, 72,
91, 95, 109)
(1967 = 100)
(1967 = 100)
(1967 = 100)
940. Ratio,
coincident
index to
lagging index
(1967 = 100)
COMPOSITE INDEXES
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)
(1967-100)
916. Profitability (series
19, 26, 80)
917. Money
and financial
flows (series
104, 106, 110)
CO
1980
January
February
March
134.7
134.1
131.5
146.1
145.2
143.5
178.4
180.8
190.0
81.9
80.3
75.5
96.3
96.4
94.5
111.6
109.9
107.8
102.7
102.1
101.6
90.9
91.6
89.6
137.2
138.7
136.4
April
May
June
126.2
123.0
123.9
140.5
138.0
136.7
196.2
183.5
168.5
71.6
75.2
81.1
90.3
88.3
89.6
104.3
103.2
104.5
100.3
98.8
97.7
88.7
88.5
89.7
131.8
126.4
128.9
July
August
September
128.1
130.7
134.4
136.5
136.7
138.1
163.6
161.7
164.2
83.4
H>84.5
84.1
91.7
92.2
92.9
106.1
107.0
B>108.8
98.5
99.5
101.5
90.6
91.3
91.5
133.5
137.4
139.0
October
November
December
135.0
136.5
136.4
139.7
140.8
141.3
168.5
175.6
191.0
82.9
80.2
74.0
93.6
94.2
94.5
107.3
108.2
108.3
103.1
103.4
103.2
91.8
92.2
93.0
139.4
139.9
138.8
135.2
134.2
135.8
142.0
142.5
142.4
189.1
186.5
181.2
75.1
76.4
78.6
94.2
94.1
94.1
106.7
105.2
106.0
102.1
103.1
103.7
93.9
94.4
(B> 9 4 . 5
139.4
137.5
139,0
(H>137.3
136.0
135.2
142.2
142.2
142.7
179.4
189.6
191.4
79.3
75.0
106.3
105.1
[H>104.3
103.7
94.4
93.7
74 fi
94.9
94.2
94.5
140.4
140.7
140.1
134.8
134.1
130.8
JH}142.8
142.5
141.8
192.6
193.5
©194.1
74.1
73.6
73.1
E>95.0
93.6
91.4
102.5
102.4
101.8
103.8
102.8
rlO1.9
93.5
r93.8
r92.3
139.1
133,5
:L36.0
128.4
128.2
127.2
139.9
138.4
136.5
189.5
184.9
181.7
73.8
74.9
75.1
90.5
90.3
89.3
99.2
99.7
99.3
100.6
99.6
98.7
r92.3
r92.4
r91.7
134.2
133.0
134.6
125.7
125.2
125.1
134.1
135.7
135.0
182.3
184.0
183.7
73.6
73.8
73.5
(NA)
99.0
98.0
99.4
97.2
96.4
95.9
r90.1
r88.9
88.3
136.7
137.7
140.1
3
126.8
V127.7
3
128.1
134.0
rl34.9
133.1
rl84.5
rl84.2
183.7
72.6
r73.2
r72.5
100.3
99.4
99.1
r95.9
r97.2
r98.4
88.7
p88.5
(NA)
142.5
H>142.7
H41.4
•183.2
P72.4
plOO.7
P99.1
1981
January
February
March
April
May
June
July . . . .
August
September
. .
October
November
December
/ *t. D
J.UO. 0
1982
January
February
March . .
April
May
June
July
August
September
2
3
3
*129.8
5
132.7
P141.3
October
November
December
NOTE: Series are seasonally adjusted except for those, indicated by ® , that appear to contain no seasonal movement. Current high values are indicated by (H>; for series that 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 listed at the back
of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
1
See "New Features and Changes for This Issue" on page iii of the February 1982 issue.
2
Excludes series 12, for which data are not available, and includes a substitute value for series 1. See "New Features and Changes for
This Issue" on page iii of the March 1982 issue.
3
Excludes series 12, for which data are not available. See "New Features and Changes for This Issue" on page iv of the July 1982 issue.
''Excludes series 12 and 36, for which data are not available.
s
Excludes series 57, for which data are not available.
6
Excludes series 70 and 95, for which data are not available.
60
AUGUST 1982
IHCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
^ |
Minor Economic
Process
L, L, L
L.C.L
1. Average
workweek of
production
workers,
manufacturing
21. Average
weekly overtime
hours, production workers,
manufacturing
(Hours)
(Hours)
L, L, L
2. Accession
rate, manufacturing
(Per 100 employees)
L,C, L
5. Average
weekly initial
claims, State
unemployment
insurance l
(Thous.)
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
Timing Class
Year
and
month
EMPLOYMENT AND UNEMPLOYMENT
L, L, L
3. Layoff rate,
manufacturing
(Per 100 employees)
L, Lg, U
4. Quit rate,
manufacturing
(Per 100 employees)
U Lg, U
L, Lg, U
60. Ratio, helpwanted advertising to persons
unemployed
46. Index of
help-wanted
advertising
in newspapers
48. Employeehours in nonagricultural
establishments
(Ratio)
(1967 = 100)
(Ann. rate,
bil. hours)
C2)
1980
U.C.C
Revised3
January .
February
March . .
40.3
40.0
39.8
3.1
2.9
3.1
3.9
3.8
3.7
416
397
438
1.4
1.3
1.4
1.9
1.9
1.8
0.688
0.677
0.643
154
151
145
171.55
171.45
170.58
April
May
June
39.8
39.4
39.2
3.0
2.6
2.4
3.2
3.1
3.4
532
616
581
2.7
3.2
2.6
1.6
1.5
1.4
0.493
0.414
0.427
122
112
115
169.68
168.95
168.24
July
August . . . . . .
September . . .
39.2
39.4
39.6
2.5
2.7
2.8
3.5
3.6
3.7
510
495
488
1.6
1.8
1.5
1.4
1.4
1.3
0.422
0.423
0.453
118
117
122
167.36
168.22
168.95
October
November . . .
December . . .
39.6
39.8
40.0
2.8
3.0
3.0
E>3.7
3.6
3.5
447
422
420
1.5
1.3
1.2
1.3
1.4
1.5
0.466
|H)0.495
0.490
127
H>134
130
169.31
169.19
170.24
H>40.4
39.7
39.9
3.0
2.8
2.8
3.5
3.5
3.4
424
410
413
1.4
1.3
1.3
1.4
1.4
1.3
0.475
0.482
0.468
128
129
125
0)171.34
170.20
170.77
April
May
June
40.1
40.2
40.1
3.0
B>3.1
3.0
3.4
3.1
3.4
395
40 r
405
1.1
1.3
1.3
1.3
1.3
1.4
0.445
0.426
0.450
118
118
121
169.57
170.80
170.70
July
August
September . . .
40.0
39.9
39.4
3.0
3.0
2.7
3.4
3.2
2.9
E>395
421
483
Di.o
1.4
1.7
0)1.5
1.3
1.3
0.468
0.444
0.405
123
119
112
171.04
170.96
167.34
October
November . . .
December . . .
39.
39.
39.1
2.7
2.5
2.4
2.9
3.1
2.7
517
539
551
2.2
2.3
2.2
1.2
1.1
1.1
0.378
0.363
0.339
110
111
109
169.73
168.76
168.66
37.6
39.4
39.0
2.3
2.4
2.3
(NA)
563
514
566
(NA)
(NA)
0.339
0.320
0.290
106
103
96
165.66
168.93
167.92
April
May
June
39.0
39.1
r39.2
2.4
2.3
2.4
566
585
551
0.254
0.245
0.243
88
87
85
167.23
167.99
166.50
July
August
September . . .
p39.3
p2.4
515
pO.221
p80
P166.79
1981
January
February
March
1982
January
February
March
October
November . . .
December . . .
See note on page 60.
* Graphs of these series are shown on pages 12, 16, and 17.
*Data exclude Puerto Rico, which is included in figures published by the source agency.
2
See "New Features and Changes for This Issue" (item 2) on page iii of the February 1982 issue.
3
See "New Features and Changes for This Issue," page iii.
licit
AUGUST 1982
61
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
j Q
Minor Economic
Process
Comprehensive Employment-Continued
Timing Class
Year
and
month
EMPLOYMENT AND UNEMPLOYMENT-Continued
Comprehensive Unemployment
U, C, C
C, C, C
L, C, U
U, Lg, U
42. Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
(Thous.)
(Thous.)
(Thous.)
(Percent)
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Ur Lg, Lg
37. Number of
persons unemployed, labor
force survey
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate,
State programs'
91. Average
duration of
unemployment
44. Unemployment rate,
parsons unemployed 15
wtieks and over
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
L, Lg, U
1980
January
February
March
96,506
96,521
96,205
90,801
90,846
90,929
26,489
26,377
26,285
59.20
59.17
58.91
6,660
6,635
6,714
6.3
6.2
6.3
3.3
3.2
3.4
10.5
10.6
11.0
1.3
1.3
1.4
April
May
June
95,832
95,552
95,483
90,723
90,308
89,976
25,951
25,628
25,329
89,692
89,955
90,126
25,055
25,203
25,271
7.8
7.7
7.5
3.7
4.2
4.5
4.3
4.2
4.2
11.3
10.7
11.7
11.9
12.4
13.0
1.6
1.6
1.7
95,546
95,667
95,759
7,370
8,059
8,024
8,330
8,239
8,024
6.9
7.5
7.5
July
August
September . . .
58.55
58.39
58.20
58.16
58.11
58.21
October
November . . .
December . . .
95,965
96,164
96,146
90,320
90,560
90,725
25,355
25,484
25,537
58.21
58.27
58.26
8,109
8,066
7,899
7.5
7.5
7.3
4.0
3.8
3.6
13.2
13.5
13.6
2.1
2.2
2.2
96,456
96,723
97,063
90,909
90,913
91,014
25,588
25,501
25,588
58.34
58.38
58.52
8,022
7,965
7,958
7.4
7.4
7.3
3.5
3.3
3.4
14.4
14.1
13.9
2.2
2.1
2.1
97,408
0)97,640
97,082
91,099
91,131
91,286
25,534
25,540
25,656
58.73
0)58.76
58.33
7,899
8,248
8,004
7.3
7.5
7.4
3.4
3.3
3.3
13.7
13.3
14.3
2.0
2.0
2.2
July
August
September . . .
97,522
97,436
96,900
0)91,396
91,322
91,363
0)25,718
25,637
25,583
58.51
58.44
58.03
0)7,824
7,978
8,236
0)7.2
0)3.1
7.3
7.6
3.2
3.3
14.1
14.3
13.7
2.0
[H)2.0
October
November . . .
December . . .
96,965
96,800
96,404
91,224
90,996
90,642
25,393
25,176
24,908
58.01
57.85
57.47
8,669
9,100
9,571
8.0
8.3
8.8
3.5
3.9
4.1
13.6
13.1
©12.8
2.1
2.2
2.2
January
February
March
96,170
96,217
96,144
90,460
90,459
90,304
24,684
24,631
24,450
57.40
57.35
57.23
9,298
9,575
9,854
8.5
8.8
9.0
4.0
4.0
4.3
13.5
14.1
13.9
2.2
2.5
2.7
April
May . .'
June
96,032
96,629
96,406
90,083
r90,166
r89,860
24,289
r24,255
r23,992
57.09
57.47
57.22
10,307
10,549
10,427
9.4
9.5
9.5
4.6
4.6
4.7
14.2
14.6
16.5
2.7
3.0
3.3
July
August
September . . .
96,272
p89,843
p23,878
57.14
10,790
9.8
p4.5
15.6
3.2
1.9
2.0
2.1
1981
January
February
March
April
May
June
2.1
1982
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 14, 15, 17, and 18.
*Data exclude Puerto Rico, which is included in figures published by the source agency.
62
AUGUST 1982
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q |
Minor Economic
Process
Industrial Production
Comprehensive Output and Income
Timing Class
Year
and
month
PRODUCTION AND INCOME
50. Gross national product
in 1972 dollars
C.C.C
52. Constant
(1972) dollars
51. Personal
income, less
transfer payments, in 1972
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
53. Wages and
salaries in
mining, mfg.,
and construction in 1972
dollars
(Ann. rate,
bil. dol.)
Personal income
223. Current
dollars
(Ann. rate,
bil. dol.)
C, C, C
C, C, C
C, C,C
(Ann. rate,
bil. dot.)
C.C, C
47. Index of
industrial
production,
total
(1967 = 100)
C.C.C
73. Index of
industrial
production,
durable manufactures
(1967=100)
C L, L
74. Index of
industrial
production,
nondurable
manufactures
(1967 = 100)
c, c,c
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil. dol.)
1980
January
February
March
1,494.9
2,076.6
2,084.5
2,099.2
1,215.8
1,206.
1,201.
1,055.3
1,048.2
1,044.1
241.1
240.2
237.3
153.0
152.8
152.1
144.8
144.4
143.5
166.0
165.8
164.3
682.5
April
May
June
1,457.8
2,098.0
2,107.7
2,123.0
1,192.
1,190.
1,190.0
1,033.8
1,029.9
1,029.5
232.9
229.5
227.3
148.2
143.8
141.4
138.5
133.3
129.9
161.6
158.1
155.1
658.2
July
August
September . .
1,463.8
2,162.5
2,183.3
2,210.0
1,204.7
1,204.2
1,208.3
1,030.9
1,032.5
1,035.1
226.9
229.9
230.6
140.3
142.2
144.4
128.7
129.9
132.1
154.6
157.6
161.0
659.5
1,479.4
2,236.8
2,260.2
2,283.0
1,214.3
1,217.8
1,222.2
1,041.7
1,046.7
1,051.3
231.1
232.2
232.3
146.6
149.2
150.4
135.7
139.2
140.3
162.1
163.0
165.0
671.6
January
February
March
1,507.8
2,308.1
2,330.1
2,351.7
1,227.1
1,232.2
1,234.5
1,056.2
1,061.9
1,064.0
[H}234.2
231.6
231.8
151.4
151.8
152.1
141.0
140.8
142.1
165.6
166.2
165.3
692.8
April
May
June
1,502.2
2,364.5
2,379.1
2,398.4
1,234.7
1,234.0
1,239.5
1,064.5
1,065.0
1,069.4
231.5
231.6
232.3
151.9
152.7
152.9
142.5
143.5
143.2
165.9
166.4
165.8
689.8
July
August
September . . .
Rl.510.4
2,436.3
2,459.6
2,478.6
1,248.1
1,253.6
1,253.1
1,071.8
H>1.078.3
1,077.9
232.0
231.4
228.9
H>153.9
153.6
151.6
(H>143.6
143.4
140.9
167.1
1)167.3
165.9
(H>697.2
October
November . . ,
December . . .
1,490.1
2,487.2
2,499.0
2,497.6
1,251.1
1,250.1
1,245.7
1,076.5
1,074.3
1,069.3
228.1
226.0
223.1
149.1
146.3
143.4
137.8
134.4
131.3
162.8
160.3
157.4
678.0
1,470.7
2,499.1
2,513.8
2,518.6
1,236.0
1,243.8
1,245.0
1,061.7
1,068.8
1,068.3
222,
223.
221.
140,
142.
141,
127.1
129.3
128.2
155.1
157.8
157.3
661.8
rl,475.3
r2,535.8
r2,557.4
r2,567.3
rl,249.2
H>rl,256.1
rl,249.9
rl,069.9
rl,076.8
rl,071.1
220,
r220.
r217.6
140.2
rl39.2
rl38.2
rl26.7
rl26.0
125.3
rl56.1
rl54.9
rl54.2
r663.2
©P2.592.3
pi,253.5
pi,069.8
p216.0
pl38.1
pl25.2
pl54.2
October
November . . .
December . . .
1981
1982
January .
February
March . .
April . . . .
May . . . .
June . . . .
July
August . .
September
October . .
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 19, 20, and 40.
AUGUST 1982
63
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q j
Minor Economic
Process
Capacity Utilization
Timing Class
Year
and
month
^ Q
PRODUCTION AND INCOME—Continued
L, C, U
83. Rate of
capacity
utilization,
manufacturing
(8EA)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
(Percent)
CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Orders and Deliveries
L, C, U
L, L,L
L, L, L
Value of manufacturers' new
orders, durable goods industries
84. Rate of
capacity
utilization,
materials .
6. Current
dollars
(Percent)
(Bil. dol.)
L. L. L
L, L, L
L, Lg, U
7. Constant
(1972) dollars
8. New orders
for consumer
goods and
materials in
1972 dollars
25. Change in
unfilled orders,
durable goods
industries
96. Manufacturers' unfilled
orders, durable
goods industries
(Bil. dol.)
(Bil. dol.)
(Bil. dol.)
(Bil. dol.)
U L, L
32. Vendor
performance,
companies receiving slower
deliveries (u)
(Percent
reporting)
1980
January
February
March
83.4
85,8
83.62
82.83
78.97
41.81
40.94
39.02
36.63
36.38
33.86
4.19
2.46
1.32
296.07
298.54
299.86
48
42
45
77.9
78.8
74.64
69.47
71.29
36.79
34.12
34.68
31.24
30.28
30.18
-0.17
-3.14
-0.72
299.69
296.56
295.83
40
32
28
75.2
78.94
76.34
81.81
38.04
36.51
38.92
31.97
32.38
33.75
H>3.91
75.9
1.37
2.75
299.75
301.12
303.86
32
34
39
79.1
80.1
83.08
82.89
84.98
39.08
38.84
39.47
34.78
34.48
33.96
1.63
1.19
3.37
305.49
306.68
310.05
44
45
47
H>79.9
.2
82.53
82.70
83.86
38.23
38.15
38.49
33.05
34.38
33.92
1.10
0.52
0.35
311.15
311.67
312.02
46
50
52
81.2
86.41
87.40
86.91
39.33
.51
39.06
34.59
H>35.09
35.02
0.02
313.64
315.60
315.62
1)56
79.8
80
April
May
June
*76
July
August
September , . .
October
November . . .
December . . .
76
*78
1981
January
February
March
*78
April
May
June
E>78
July
August
September . , .
'76
October
November , . .
December . . .
*72
52
48
79.3
81.1
H>87.58
84.82
84.46
39.15
37.73
37.42
34.65
33.12
32.81
1.84
-0.40
-0.22
E>317.46
317.06
316.84
46
48
43
74.8
75.2
77.19
78.59
76.42
34.02
34.44
33.43
30.72
30.03
30.01
-4 07
1.69
2.71
312.77
311.08
308.37
38
32
30
71.6
72.0
75.06
76.31
77.86
32.79
33.40
34.01
28.78
29.28
r30.25
-0.49
-1.67
-0.26
307.88
306.21
305.95
32
36
35
r70.2
r69.6
76.89
r76.28
r74.51
33.58
r33.14
r32.23
29.44
r30.80
r30.04
-0.25
-3.24
r-4.37
305.70
302.46
r298.09
31
30
38
P76.91
p33.22
p30.42
p-2.44
P295.65
37
1982
January
February
March
April
May
June
p72
<NA)
July
August
September . . .
October . . ,
November ,
December ,
See note on page 60.
Graphs of these series are shown on pages 12, 20, and 2 1 .
64
AUGUST 1982
BCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
^ J
Minor Economic
Process
Timing Class
C C, C
c, c,c
56. Current
dollars
(Mil. dol.)
1980
57. Constant
(1972) dollars
(Mil. dol.)
C, L, C
75. Index of industrial production, consumer
goods
(1967 = 100)
C,1, U
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
l i l
CONSUMPTION, TRADE, ORDERS, AND DEUVERIES-Continued
59. Constant
(1972) dollars
(Mil. dol.)
L, C, C
55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil. dol.)
L, L, L
58. Index of
consumer,
sentiment ( § )
(1st Q
1966 = 100)
L, L, L
12. Index of
net business
formation
(1967 = 100)
L, L, L
13. Number of
new business
incorporations
(Number)
Revised1
January
February
March
316,565
317,513
313,589
160,427
158,918
154,830
147.9
148.2
148.0
78,409
77,951
76,898
45,114
44,391
43,250
68.0
67.0
66.9
56.5
131.0
129.8
125.8
44,230
44,175
43,359
April . t
May
June
307,644
306,516
307,113
151,542
149,397
149,942
145.2
142.1
141.8
76,543
76,730
77,616
42,738
42,628
42,834
50.9
52.7
51.7
58.7
120.5
117.8
114.8
42,240
42,710
40,648
July
August
September . . .
316,518
319,783
328,922
152,390
150,614
154,341
142.
142.
144.
79,114
79,393
80,026
43,445
43,102
42,979
58.9
62.3
67.3
73.7
115.
117,
120.
43,621
44,255
45,746
October
November . . .
December . . .
336,198
339,269
342,509
156,659
156,522
157,349
146.
148.
147.1
81,325
82,249
82,855
43,443
43,657
43,700
64.7
75.0
76.7
64.5
119.6
119.2
D121.3
45,945
46,750
47,840
348,308
349,441
350,352
157,793
H>158,639
158,081
146.9
147.8
148.3
84,104
85,201
86,128
44,034
44,283
44,488
H>71.6
71.4
66.9
66.5
118.1
117.1
117.7
46,039
48,588
47,972
352,751
353,398
1)356,277
158,128
156,883
158,298
148.9
150.7
150.3
86,263
86,361
87,299
44,351
44,174
44,518
72.4
63.0
76.
73.
118.0
115.4
114.6
49,413
48,997
49,172
July
August
September . . .
355,070
354,594
353,419
157,376
155,792
155,765
[H>150.7
149.6
147.8
87,292
87,961
87,823
44,243
44,402
43,999
71.5
74.
E>77.
73.1
113.1
113.6
112.4
49,404
48,631
48,450
October
November . . ,
December . . .
346,619
344,913
341,106
151,724
151,548
150,419
146.5
144.0
142.0
86,413
86,733
86,572
43,163
43,215
43,049
62.8
70.
62
64.3
108.2
108.5
elO6.O
47,947
(H>49,413
47,556
334,710
341,415
343,299
146,449
150,352
150,915
139.6
141.8
141.5
85,320
87,418
87,242
42,113
43,233
43,211
71.0
66.5
62.0
(NA)
68.0
43,330
47,234
46,899
339,385
349,148
p344,454
149,648
rl53,9O3
p150,902
r142.1
rl43.5
rl43.7
88,294
[H>r90,841
r87,887
43,732
H>r44,815
r42,977
r67.4
(NA)
(NA)
P144.5
p88,723
p43,195
1981
January
February
March
April
May
June
1982
January
February
March
April
May
June
July
August
September . . .
.
65.
67.
65,
46,876
46,995
(NA)
65.4
October
November . . .
December . . .
See note, on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23.
x
See "New Features and Changes for This Issue," page iii.
2
See "New Features and Changes for This Issue" on page iv of the July 1982 issue.
AUGUST 1982
65
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q |
Minor Economic
Process
Business Investment Commitments
Timing Class
1,1, L
L, Lf L
Contracts and orders for plant
and equipment
Year
and
month
FIXED CAPITAL INVESTMENT—Continued
10, Current
dollars
(Bil. dol.)
20. Constant
(1972) dollars
(Bil. dol.)
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil. dol.)
L, C, U
L, L f L
U, Lg, U
9. Construction contracts for commercial and industrial buildings'
27. Constant
(1972) dollars
Square feet of
floor space
(Bil. dol.)
(Millions)
Square meters of
floor space2
(Millions)
C, Lg, Lg
11. Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, LOCO
manufacturing
corporations
(Bil, dol.)
(Bil. dol.)
1980
January
February
March
28.47
25.74
26.24
16.20
13.68
14.00
25.43
23.18
23.36
14.74
12.48
12.65
99.43
82.08
78.31
9.24
7.63
7.27
27.50
April
May
June
26.23
23.46
25.34
13.89
12.64
13.96
23.74
21.15
22.21
12.74
11.57
12.54
72.76
67.35
71.59
6.76
6.26
6.65
25.81
July
August
September . . .
27.09
26.52
26.75
15.20
14.04
14.41
24.28
22.19
23.59
13.93
12.09
12.98
74.62
71.41
64.15
6.93
6.63
5.96
24.12
26.74
27.61
28.70
13.94
14.32
(fi>15.66
23.31
23.70
25.22
12.40
12.58
H>14.12
73.46
H>90.80
87.75
6.82
E)8.44
8.15
26.15
January
February
March
29.13
25.57
28.17
15.10
12.69
14.17
25.06
21.86
24.46
13.32
11.06
12.56
83.72
83.86
83.79
7.78
7.79
7.78
r27.70
April
May
June
.61
28.07
28.70
15.19
14.09
14.16
H>25.69
24.49
24.04
13.05
12.53
12.14
79.64
84.75
81.01
7.40
7.87
7.53
E>r28.06
July
August
September . . .
28.21
27.95
27.92
13.48
14.16
14.29
24.66
24.87
24.31
11.94
12.83
12.75
73.46
78.67
68.12
6.82
7.31
6.33
r26.94
October
November . . .
December . . .
26.24
27.71
26.81
13.28
14.23
13.97
22.53
24.37
22.13
11.68
12.80
11.98
74.26
70.77
70.65
6.90
6.57
6.56
r22.99
26.32
24.90
25.67
13.27
11.95
12.98
21.72
21.56
22.17
11.32
10.54
11.49
56.29
65.10
63.17
5.23
6.05
5.87
r25.77
April
May
June
r25.69
22.95
r23.78
13.84
11.39
rll.24
22.61
20.33
rl9.28
12.55
10.28
r9.35
57.32
51.70
68.02
5.33
4.80
6.32
p20.04
July
August
September . . .
P23.93
pll.49
D21.28
plO.38
56.41
5.24
October
November . . .
December . . .
82.36
86.38
88.12
90.73
1981
r93.44
r96.18
B>97.34
r92.74
1982
January
February
March
r91.ll
P82.96
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 12, 23, and 24.
l
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
Converted to metric units by the Bureau of Economic Analysis.
66
AUGUST 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
B :
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class
Year
and
month
CAPITAL INVESTMENT—Continued
Residential Construction
Commitments and Investment
Business Investment Expenditures
C Lg, Lg
C Lg, Lg
C Lg, U
61. Business
expenditures
for new plant
and equipment,
total
69. Machinery
and equipment
sales and business
construction
expenditures
76. Index of
industrial production, business
equipment
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dot.)
(1967 = 100)
C Lg, C
Lg, Lg, Lg
C Lg, C
Nonrestdential fixed investment in 1972 dollars
86. Total
{Ann. rate,
bil. dol.)
87. Structures
(Ann. rate,
bil. dol.)
88. Producers'
durable equipment
(Ann. rate,
bil. dot,)
L, L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967 = 100)
L, L, L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
1980
January .
February
March . .
291.89
312.50
320.69
317.90
175.2
176.5
176.2
171.9
51.1
120.8
1,339
1,356
1,060
103.4
96.8
79.8
53.4
April .
May .
June .
294.36
310.76
313.38
312.48
174.5
171.8
169.7
162.4
48.5
113.9
1,030
939
1,196
65,
69.
90,
42.0
July . . . .
August . .
September
296.23
315.98
306.42
324.35
169.5
171.1
170.7
163.8
47.1
116.7
1,273
1,418
1,463
101.7
110.4
0)119.9
44.0
October . .
November
December
299.58
326.37
325.84
328.40
171.9
173.9
177.1
166.4
47.5
118.9
1,504
1,539
1,457
110.3
111.7
100.9
49.5
January .
February
March . .
312.24
332.78
331.57
344.52
177.7
177.5
179.3
169.7
49.5
120.1
0)1,585
1,294
1,318
99.8
96.6
94.7
H>49.6
April . .
May . .
June . .
316.73
344.36
345.78
353.20
181.0
182.0
183.6
170.1
51.0
119.1
1,301
1,172
1,046
95.8
95.2
79.6
47.3
July
August . .
September
0)328.25
348.42
357.31
0)360.38
0)184.8
184.4
182.7
173.9
52.5
E)121.4
1,040
946
899
76.0
70.9
67.4
42.9
October . .
November
December
327.83
349.27
358.67
356.78
180.5
179.0
179.0
0)174.2
53.3
120.9
854
860
882
59.6
60.0
64.4
39.9
327.72
330.07
342.57
3^3.72
172,
171,
169.0
172.0
53.5
118.5
885
945
931
64.9
64.0
68.7
38.9
April .
May .
June .
a323.75
r325.51
r335.59
P332.71
164.9
rl60.2
rl55.2
rl66.4
rllZ.6
882
rl,066
r906
71.0
76.3
75.0
r39.9
July
August . .
September
pi,211
85.8
a328.04
October. .
November
December
a334.78
1981
1982
January .
February
March . .
(NA)
pl52.0
See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.
AUGUST 1982
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued
D
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class
Year
and
month
INVENTORIES ANC INVENTORY INVESTMENT
Inventories on Hand and on Order
Inventory Investment
L, L, L
L.L, L
L, Lf L
L, L, L
30. Change in
business inventories in 1972
dollars
36. Change in inventories on
hand and on order, 1972 dollars
31. Change
in book value
of mfg. and
trade inventories, total
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
(Ann. rate,
bil. dot.)
Monthly
data
Smoothed
data 1
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Bil dol.)
Lg, Lg, Lg
Manufacturing and trade
inventories
71. Current
dollars
(Bil dol.)
70. Constant
(1972) dollars
(Bil dol.)
Lg, Lg, Lg
Lg, Lg, Lg
65. Manufacturers' inventories of
finished
goods, book
value
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
78. Stocks of
mater al:, and
supplies on
hand and on
order, mfg.
(Bil dol.)
(Ratio)
(Bit dol.)
L, Lg, Lg
Revised2
Revised 2
1980
Lg. Lg, Lg
January .
February
March . .
-2.6
-11.29
-11.18
-2.68
-12.36
-13.06
-10.27
56.5
51.5
49.8
2.76
2.86
1.52
448.84
453.13
457.28
264.08
263.78
263.95
74.00
75.02
76.31
1.65
1.66
1.70
215.40
218.26
219.78
April
May
June
-2.5
0.96
-15.94
-26.63
-6.34
-5.09
-9.88
76.3
26.8
17.6
-0.54
-1.97
-1.55
463.64
465.88
467.34
265.69
265.61
264.67
77.76
78.84
79.14
1.75
1.78
1.77
219.24
217.27
215.72
July
August
September , . .
-8.5
-10.99
-9.46
-0.65
-15.86
-16.77
-11.36
31.3
38.1
32.5
0)1.97
-0.18
0.85
469.95
473.12
475.83
264.36
263.66
263.62
79.84
80.14
79.90
1.71
217.69
217.51
218.36
-6.2
4.27
-7.32
-5.89
-4.49
-1.59
-2.11
33.1
21.9
25.9
1.43
1.32
0.78
478.59
480.42
482.57
263.77
263.09
262.78
79.84
80.31
79.99
1.68
1.68
1.67
219.79
221.11
221.89
2.4
-15.50
16.34
-5.47
-6.28
-5.63
-1.61
36.0
55.5
24.4
0.58
0.77
-0.34
485.57
490.19
492.23
262.33
263.33
263.10
79.42
80.55
82.36
1.66
1.66
1.66
222.47
223,. 24
222.90
12.1
0.32
©17.44
17.27
1.09
3.91
7.89
22.1
44.0
43.8
0.55
494.07
497.74
501.38
263.41
264.70
265.92
82.10
83.55
84.00
H>16.5
5.15
4.84
14.14
E)12.48
11.19
8.56
40.3
62.6
E>65.1
.88
,09
.12
504.74
509.96
515.39
266.53
267.56
269.42
84.22
85.65
86.86
1.69
1.72
1.73
228.28
227.19
(H)228.32
4.8
-1.16
-2.51
-20.09
6.99
4.72
-2.22
36.9
38.2
-19.4
-2.71
-1.26
-1.22
518.46
0)521.64
520.02
270.47
1)271.17
269.85
88.05
[H>88.50
1.78
1.79
1.79
225.61
224.35
223.13
-33.66
-25.61
r-9.22
-13.34
-22.60
-24.64
-43.0
-31.7
-44.0
-2.96
-2.64
-2.11
516.44
513.80
510.13
267.69
266.45
265.98
86.84
87.90
88.49
H>1.83
220.17
217.53
215.42
r-6.96
r-27.76
p-3.58
(NA)
r-18.38
r-14.29
p-13.71
57.0
-54,
pl9.
-1.67
-2.33
p-4.04
514.88
510.36
p512.01
r266.55
r264.57
p264.99
87.39
86.56
85.90
1.78
rl.72
pi. 76
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
October
November . . .
December . . .
1981
January
February
March
April
May
June
July
August
September . . .
October
November . . .
December . . .
87.66
224.211
225.85
226.40
1982
January
February
March
-15.4
April
May
June
r-5.3
July
August
September . . .
1.77
1.76
213.75
211.42
P207.39
(NA)
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 13, 15, 26, and 27.
lf
rhis
2
series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
See "New Features and Changes for This Issue," page iii.
68
AUGUST 1982
ItClft
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
IQj
Minor Economic
Process
U, L, L
L.L.L
92. Change in sensitive crude
materials prices
Year
and
Stock
Prices
Sensitive Commodity Prices
Timing Class
23. Index of
spot market
prices, raw
industrials 3 ®
Smoothed
data 2
Monthly
data
PRICES, COSTS, AND PROFITS
L, L,L
19. Index of
stock prices,
500 common
stocks (u)
Profits and Profit Marg ns
L, L, L
L, C, L
L, L, L
Corporate profits after taxes
with IVA and CCAdj'
Corporate profits after taxes
16. Current
dollars
I, C.L
18. Constant
(1972) dollars
79. Current
dollars
80. Constant
(1972) dollars
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic income
month
(Percent)
(Percent)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dot.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(1967 = 100)
(1941-43 = 10)
316.2
322.5
316.9
110.87
115.34
104.69
172.9
97.0
100.0
56.7
10.8
301.
278,
267.
102.97
107.69
114.55
144.3
79.4
98.9
54.8
8.9
155.9
.2
95.6
52.0
9.7
158.1
83.7
93.4
49.8
3.9
9.8
(Percent)
1980
3.21
1.48
-1.44
2.30
2.30
1.65
April
May
June
0.54
O.O7
0.96
0.64
-0.04
0.12
iuly
August
September . . .
2.04
2.41
2.06
0.77
1.41
1.99
277.6
292.1
298.3
119.83
123.50
126.51
October
November . . .
December . . .
2.46
2.31
1.45
2.24
2.29
2.18
300.8
E>304.7
298.4
|H>135.65
2.74
H>.6.64
-0.62
2.12
2.89
E>3.26
291.6
284.2
289.8
132.97
128.40
133.19
(3)161.6
84.0
108.8
JH>56.8
1.71
2.25
0.23
2.75
1.84
1.26
293.0
288.9
282.9
134.43
131.73
132.28
146.2
74.2
105.9
54.1
January
February
March
130.22
133.48
1981
January
February
March
April
May
June
July
August
September . . .
0.47
-0.63
0.79
1.19
0.50
0.12
286.
289.
283.
129.13
129.63
118.27
150.8
75.4
110.7
55.6
8.8
October
November . . .
December . . .
-1.09
-0.51
0.16
-0.05
-0.29
-0.38
277.
270.
144.9
71.2
0)112.3
55.5
264.2
119.80
122.92
123.79
8.1
January
February
March
-1.13
-2.09
r-2.21
-0.49
-0.76
-1.42
263.4
261.0
254.5
117.28
114.50
110.84
115.9
56.7
101.3
49.7
6.8
April
May
June
r-0.29
1.67
0.78
r-1.67
-0.90
rO.22
247.4
245.
232.
116.31
116.35
109.70
P115.0
p55.6
plOl.2
p49.1
p6.7
1.03
0.94
237.0
"235.6
1982
July
August
September . . .
5
109.38
108.71
October . .
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
1
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment. 2This series is a weighted 4-term moving average (with
weights 1,2,2,1) placed on the terminal month of the span.
beginning with data for June 1981, this series is based on copyrighted data
used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc. *Average for August 1 through
5
25, excluding weekends.
Average for August 4, 11, 18, and 25.
ItCII
AUGUST 1982
69
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued
MAJOR ECONOMIC
PROCESS
Q |
Minor Economic
Process
U, L,L
Year
and
month
Unit Labor Costs and Labor Share
Cash Flows
Profits and Profit Margins-Continued
Timing Class
PRICES, COSTS, AND PROFITS—Continued
L.L.L
I, I, I
81. Ratio,
profits (after
taxes) with IVA
and CCAdj to
corp. domestic
income'
15. Profits (after
taxes) per dollar
of sales, all
manufacturing
corporations
26. Ratio, price
to unit labor
cost, nonfarm
business sector
(Percent)
(Cents)
(1977=100)
L, L, L
Net cash flow, corporate
34, Current
dollars
(Ann. rate,
bil. dol.)
35. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
Lg, Lg, Lg
63. Index of
unit labor cost,
private business
sector
68. Labor cost
per unit of real
gross domestic
product, nonfinancial
corporations
(1977-100)
(Dollars)
Lg, Lg, Lg
62. Index of
labor cost per
unit of output,
manufacturing
(1967 = 100)
Lg, lg, Lg
64. Compensation of employees as a percent
of national
income
(Percent)
Revised2
Revised
1980
Lg, Lg, U
January
February
March
5.1
5.6
96.7
272.5
149.7
127.6
1.168
183.7
186.2
188.2
74.8
April .
May .
June .
5.3
4.4
96.0
247.5
132.6
132.3
1.208
191.7
196.6
201.0
76.0
July
August
September . . .
5.1
4.6
96.4
262.8
137.8
134.7
1.224
203.1
203.7
202.2
75.6
October
November . . .
December . . .
5.1
4.8
97.0
269.7
139.1
137.0
1.245
201.1
200.9
201.1
75.6
[H> 9 8 . 2
E>279.0
0)141.2
139.0
1.267
202.6
203.6
204.4
74.9
19S1
January .
February
March . ,
6.0
April . ,
May . .
June . .
6.0
4.9
97.9
267.7
132.0
141.5
1.289
206.1
207.4
208.9
715.3
July
August
September . . .
5.1
4.8
98.1
276.5
133.9
144.2
1.315
208.9
209.9
212.6
74.9
October
November . . .
December . . .
5.9
4.3
97.7
277.5
131.8
147.9
1.349
216.6
219.9
222.5
75.4
5.8
p4.0
96.7
255.8
121.0
•150.9
1.376
227.9
226.0
225.8
E>76.4
p5.8
(NA)
p96.4
p263.0
pl23.1
[H>pl53.0
(H>pl.389
228.0
r230.9
E)r232.5
p76,3
1982
January .
February
March . .
April .
May .
June .
July
August . .
September
P232.2
October . .
November
December
See note on page 60.
Graphs of thtst serin are shown on pates 15, 29, and 30.
'IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
3
See "New Features and Changes for This Issue," page iii.
70
AUGUST 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
I l l
Minor Economic
Process
Money
Timing Class
Year
and
month
MONEY AND CREDIT
L, L, L
85. Change in
money supply
(Ml)
L,C, U
102. Change
in money
supply (M2)
L. L, I
104. Change in total liquid assets
Smoothed
data1
Monthly
data
(Percent)
(Percent)
Velocity of Money
(Percent)
(Percent)
L, L, L
L, L, L
105. Money
supply (Ml)
in 1972
dollars
106. Money
supply (M2)
in 1972
dollars
(Bit. dol.)
(Bil. dot.)
C Lg, C
L, L, L
103. Ratio,
personal income
to money supply
(M2)
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bil. dol.)
C.C.C
107. Ratio,
gross national
product to
money supply
(Ml)
Credit Flows
(Ratio)
(Ratio)
1980
0.75
0.82
0.00
0.65
0.86
0.52
0.87
1.00
0.75
0.47
0.64
0.81
209.9
209.0
206.2
818.6
815.6
808.9
6.538
1.-358
1.352
1.354
95.30
67.63
79.57
-1.32
-0.23
1.21
-0.28
0.82
1.23
0.44
0.83
0.50
0.80
0.70
0.63
201.6
199.
199.
799.3
798.2
800.1
6.583
1.357
1.353
1.346
54.13
23.42
14.26
July
August
September . . .
1.09
1.78
1.38
1.34
1.24
0.68
0.83
0)1.22
0.57
0.66
0.78
0.86
201.
203.
204.
810.2
814.6
812.0
6.534
1.353
1.349
1.356
48.16
62.92
71.05
October
November . . .
December . . .
1.17
0.48
-0.72
0.68
0.96
0.01
0.69
1.15
0.76
0.85
0.82
0.84
0)204.9
203.6
200.2
808.8
807.7
800.0
6.588
1.364
1.36.5
1.378
0)82.61
73.37
65.39
0.82
0.36
1.19
0.57
0.75
0)1.36
0.94
0.97
0.93
200.3
199.1
200.4
798.4
796.8
803.1
6.811
1.386
1.389
1.383
56.63
61.70
48.07
-0.95
-0.19
1.30
0.53
0.49
1.13
0.87
0.82
0.72
1.12
0.95
0.87
0.84
0.91
203.7
200.2
198.4
6.744
55.69
43.18
48.16
July
August
September . . ,
0.23
0.40
0.02
0.74
1.07
0.33
0.95
1.16
0.68
0.97
0)1.01
0.98
196.6
195.8
193.7
806.1
802.8
804.9
798.9
1.372
1.373
1.378
0)6.923
1.389
1.388
0)1.394
61.81
35.27
27.68
October
0.39
0.81
1.03
0.63
1.14
0.71
0.88
1.13
0.51
0.92
0.90
0.87
193.7
194.2
195.5
800.5
805.6
808.1
6.877
1.390
1.381
1.370
22.91
24.08
6.95
1.75
-0.29
0.22
V0.91
r-0.20
r-0.02
1.02
0.36
0.93
0.93
0.84
1.00
0.85
0.81
0.84
198
197.
198.
814.1
815.0
824.9
6.685
1.357
1.360
1.350
rl6.30
r3.41
0.83
0.89
e0.94
e0.96
re0.93
rl99.6
197,
195,
0)829.7
829.3
r825.2
r6.731
r0.55
el.00
re0.92
re0.74
1.348
rl.348
rl.346
rlO.62
r3.07
(NA)
pO.79
el.05
e0.90
P194.0
P826.8
January
February
March
April
May
June
1981
January
February
March
j>
April
May
June
November . . .
December . . .
r810.
808
1982
January
February
March
April
May
June
July
August
September . .
p-0.04
2
0.35
r6.50
pi.348
October
November . .
December . .
See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Average for weeks ended August 4 and 11.
2
AUGUST 1982
71
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q |
Minor Economic
Process
Year
and
month
Credit Difficulties
Credit Flows-Continued
Timing Class
L. L, L
112. Net change
in bank loans
to businesses
(Ann. rate,
bil. dot.)
L.L.L
113. Net
change in
consumer installment
credit
(Ann. rate,
bil. dol.)
MONEY AND CREDIT—Continued
L, L, L
110, Total
private
borrowing
(Ann. rate,
mil. dol.)
L,
L, L
14. Current
liabilities
of business
failures ©
(Mil. dot.)
Interest Rates
Bank Reserves
L.L.L
39. Delinquency
rate, 30 days
and over, consumer installment loans
{Percent)
L,U, U
93. Free
reserves (
(Mil. dol.)
L. Lg, U
94. Member
bank borrowing from the
Federal
Reserve (u)
(Mil. dol.)
L, Lg, Lg
119. Federal
funds rate ®
(Percent)
C, Lg, Lg
114. Treasury
bill rate ©
(Percent)
1980
-999
-1,465
-2,638
1,241
1,655
2,824
13.82
14.13
17.19
12.04
12.81
15.53
428.15
381.15
436.68
-2,261
-835
-169
2,455
1,018
380
17.61
10.98
9.47
14.00
9.15
7.00
284,148
445.69
345.41
1,002.94
-111
-357
-1,055
395
659
1,311
9.03
9.61
10.87
8.13
9.26
10.32
4.82
7.40
16.19
341,M2
359.24
E>239.34
288.30
2.57
p-1,018
p-1,201
p-1,587
pi,335
p2,156
pi,617
12.81
15.85
18.90
11.58
13.89
15.66
6.31
-7.09
-18.96
14.47
22.14
35.65
293,812
341.36
789.20
485.34
2.42
2.51
2.53
-1,028
-1,023
-719
1,386
1,301
994
19.08
15.93
14.70
14.72
14.90
13.48
April
May
June
35.71
41.36
32.80
32.66
18.85
24.37
536.88
428.20
408.54
2.40
0)370,700
-1,136
-1,968
-1,700
1,338
0)2,220
2,039
15.72
18.52
H>19.10
13.63
H>16-30
14.56
July
August
September . , .
41.10
28.34
22.93
18.61
29.14
E)35.70
287,888
619.46
450.41
-1,335
-1,122
-1,035
1,679
1,417
1,451
19.04
17.82
15.87
14.70
15.61
14.95
October
November . . .
December . . .
13.62
13.32
23.36
12.02
7.20
-0.40
201,980
2.37
r-871
r-348
-330
rl,149
r695
642
15.08
13.31
12.37
13.87
11.27
10.93
46.64
5.32
0.90
11.88
p280,096
9.40
2.48
2.39
2.24
r-1,092
r-1,490
r-1,253
rl,517
rl,789
rl,610
13.22
14.78
14.68
12.41
13.78
12.49
April
May
June
54.30
r40.56
r39.68
14.10
16.79
16.19
(NA)
2.20
2.21
-1,307
-745
r-895
1,581
1,105
rl,205
14.94
14.45
14.15
12.82
12.15
12.11
July
August
September . . .
plO.61
X
7.46
(NA)
p-310
2
-195
p670
2
511
12.59
10.18
11.91
"9.01
January
February
March
31.93
8.28
31.62
28.44
7.85
351,964
243.15
190.79
274.24
6.41
-35.40
11.84
-21.06
-31.76
-24.85
192,976
July
August
September , . ,
5.46
20.65
26.00
-6.74
9.44
10.22
October
November . , .
December . . .
25.90
43.91
22.69
38.88
April
May
June
2.37
2.32
2.53
1981
January
February
March
(NA)
1982
January
February
March
[H>58.09
D2.16
(NA)
3
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 32, 33, and 34.
1
Average for weeks ended August 4 and 11.
2
Average for weeks ended August 4, 11, and 18.
3
Average for weeks ended August 4, 11, 18, and 25.
'•Average for weeks ended August 5, 12, 19, and 26.
72
AUGUST 1982
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q
Minor Economic
Process
Timing Class
MONEY AND CREDIT-Continued
Interest Rates-Continued
Lg, Lg, U
C Lg, Lg
U, Lg, Lg
116. Corporate
bond yields ©
115. Treasury
bond yields ©
117. Municipal
bond yields ®
Year
and
month
(Percent)
(Percent)
(Percent)
Lg, Lg, Lg
Outstanding Debt
Lg. Lg, Lg
118. Secondary
market yields
on PHA
mortgages ©
67. Bank rates
on short-term
business loans
(Percent)
(Percent)
Lg, Lg, Lg
109. Average
prime rate
charged by
Lg, Lg, Lg
66. Consumer
installment
credit
banks ®
(Percent)
(Mil. dol.)
Lg, Lg, Lg
72. Commercial
and industrial
loans outstanding, weekly
reporting large
commercial
banks
(Mil. dol.)
Lg, Lg, Lg
95. Ratio,
consumer installment credit
to personal
income
(Percent)
1980
January
February
March
11.65
13.23
14.08
10.03
11.55
11.87
7.35
8.16
9.17
12.60
(NA)
14.63
15.67
15.25
15.63
18.31
306,213
308,583
309,237
159,510
162,171
162,861
14.75
14.80
14.73
April
May
June
13.36
11.61
11.12
10.83
9.82
9.40
8.63
7.59
7.63
13.45
11.99
11.85
17.75
19.77
16.57
12.63
307,482
304,835
302,764
163,395
160,445
161,432
14.66
14.46
14.26
July
August
September . . .
11.48
12.31
12.74
9.83
10.53
10.94
8.13
8.67
8.94
12.39
13.54
14.26
11.56
11.48
11.12
12.23
302,202
302,989
303,841
161,887
163,608
165,775
13.97
13.88
13.75
October
November , . .
December . . .
13.17
14.10
14.38
11.20
11.83
11.89
9.11
9.56
10.20
14.38
14.47
14.08
15.71
13.79
16.06
20.35
304,243
304,860
306,209
167,933
171,592
173,483
13.60
13.49
13.41
January
February
March
14.01
14.60
14.49
11.65
12.23
12.15
9.68
10.10
10.16
14.23
14.79
15.04
19.91
20.16
19.43
18.05
307,415
309,260
312,231
174,009
173,418
171,838
13.32
13.27
13.28
April
May
June
15.00
15.68
14.97
12.62
12.96
12.39
10.62
10.78
10.67
15.91
16.33
16.31
19.99
17.15
19.61
20.03
314,953
316,524
318,555
174,814
178,261
180,994
13.32
13.30
13.28
July
August
September . . .
15.67
16.34
83)16.97
13.05
13.61
1)14.14
11.14
12.26
12.92
16.76
17.96
H>18.55
0)21.11
20.39
[H>20.50
20.08
320,106
322,534
325,509
184,419
186,781
188,692
13.14
13.11
13.13
October
November . . .
December . . .
16.96
15.53
15.55
14.13
12.68
12.88
12.83
11.89
12.91
17.43
15.98
16.43
17.23
18.45
16.84
15.75
326,511
327,111
327,078
189,827
190,937
192,884
13.13
13.09
13.10
January
February
March
16.34
16.35
15.72
13.73
13.63
12.98
E>13.28
12.97
12.82
17.38
17.10
16.41
17.13
15.75
16.56
16.50
327,521
327,596
328,586
196,771
201,612
202,395
13.11
13.03
13.05
April
May
June
15.62
15.37
15.96
12.84
12.67
13.32
12.59
11.95
12.45
16.31
16.19
16.73
17.11
16.50
16.50
16.50
329,761
331,160
0)332,509
206,920
r210,300
r213,607
rl3.00
rl2.95
P12.95
12.28
11.52
16.29
16.26
14.56
(NA)
(H)p2l4,491
"215,113
1981
1982
July
August
September . . .
l
15.75
14.87
l
12.97
12.36
2
3
(NA)
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
1
Average
Average
Average
"Average
2
3
for
for
for
for
weeks ended August 6, 13, and 20.
weeks ended August 5, 12, and 19.
August 1 through 26.
weeks ended August 4 and 11.
M J I AUGUST 1982
73
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
DIFFUSION INDEXES
Year
and
month
950. Twelve leading
indicator components
(series 1, 5, 8, 12, 19,
20, 29, 32, 36, 92, 104,
106)
1-month
span
6-month
span
952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109)
951. Four roughly
coincident indicator
components (series
41, 47, 51, 57)
1-month
span
6-month
span
1-month
span
6-month
span
961. Average workweek
of production workers,
manufacturing (20
industries)
1-month
span
9-month
span
963. Number of employees on private
nonagricultural payrolls
(186 industries)
962. Initial claims for
State unemployment
insurance, week including the 12th 1
(51 areas)
1-month
span
9-month
span
1-month
span
6-month
span
1980
January
February
March
41.7
29.2
33.3
0.0
16.7
8.3
100.0
25.0
0.0
25.0
0.0
0.0
April
May
June
12.5
33.3
50.0
16.7
45.8
41.7
0.0
0.0
25.0
0.0
0.0
0.0
July
August
September . . ,
83.3
83.3
91.7
75.0
100.0
91.7
25.0
75.0
100.0
50.0
100.0
100.0
October
November . . .
December . . .
62.5
70.8
50.0
75.0
66.7
75.0
100.0
87.5
100.0
January
February
March
16.7
33.3
70.8
75.0
58.3
58.3
April
May
June
75.0
16.7
41.7
July
August
September . . .
October
November . . .
Oecember . . .
50.0
58.3
33.3
70.0
7.5
10.0
15.0
0.0
0.0
23.5
60.8
46.1
2.0
2.0
9.8
53.8
48.9
49.2
39.8
34.1
29.3
41.7
50.0
33.3
57.5
22.5
22.5
12.5
10.0
15.0
3.9
33.3
70.6
19.6
3.9
7.8
29.0
32.8
29.6
23,1
26.6
28.8
41.7
33.3
33.3
33.3
33.3
50.0
22.5
87.5
85.0
37.5
75.0
95.0
62.
84.
13.
58.8
23.5
96.1
35.2
64.0
61.0
35.8
44.1
59.1
100.0
100.0
100.0
50.0
50.0
66.7
50.0
50.0
50.0
57.5
80.0
72.5
87.5
85.0
97.5
76.
96.
5.9
96
62,
59,
54.6
71.2
64.0
61.0
100.0
100.0
75.0
100.0
75.0
100.0
33.3
41.7
41.7
50.0
66.7
50.0
90.0
7.5
60.0
95.0
87.5
77.5
86.
39.
31.4
76.5
81.4
70.6
56.7
48.7
51.1
64.8
65.9
67.2
45.8
50.0
25.0
50.0
62.5
100.0
75.0
75.0
50.0
83.3
83.3
66.7
83,
66,
83,
72.5
77.5
22.5
60.0
17.5
5.0
64.
78.
17.6
19.6
19.6
5.9
68.3
65.3
54.0
67 ,,7
67.2
67.5
25.0
50.0
8.3
16.7
25.0
8.3
75.0
25.0
37.5
50.0
25.0
12.5
75.0
66.7
83.3
83,
66,
66,
35.0
35.0
15.0
15.0
12.5
5.0
r70.6
58.8
9.8
17.6
9.8
27.5
59.9
50.3
50.3
51.3
39.0
33.9
25.0
41.7
25.0
2
9.1
9.1
18.2
0.0
0.0
0.0
0.0
0.0
0.0
75.0
66.7
66.7
66.7
50.0
33.3
62.5
20.0
30.0
7.5
5.0
5.0
61.8
49.0
22.5
11.8
5.9
7.8
34.7
28.2
31.2
30.1
27.7
24.2
2
36.4
2
36.4
2
0.0
87.5
r25.0
0.0
r50.0
50.0
58.3
33,3
50.0
33.3
33.3
50.0
5.0
95.0
12.5
rl2.5
40.0
p30.0
96.1
24.5
5.9
11.8
p33.3
(NA)
32.5
42.5
35.8
21.8
r27.4
r28.8
0.0
25.0
75.0
0.0
"33.3
58.3
41.7
66.7
75.0
42.5
r75.0
r75.O
60.8
r68.6
p23.5
40.9
r51.1
r33.9
p32.5
p52.5
(NA)
p44.1
41.7
66.7
50.0
1981
2
2
1982
January
February
March
2
2
31.8
45,
2
45,
2
April
May
June
63,
63.
a
45.
July
August
September . , .
3
2
70.0
68.2
"16.7
5
50.0
5
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 2ti month, 6month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter.
Series are seasonally adjusted except for those, indicated b y ® , that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e". estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on page 36.
l
Figures are the
Excludes series
Excludes series
'•Excludes series
Excludes series
2
3
percent of components declining.
12, for which data are not available. See "New Features and Changes for This Issue" on page iv of the July 1982 issue.
12 and 36, for which data are not available.
57, for which data are not available.
70 and 95, for which data are not available.
74
AUGUST 1982
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
DIFFUSION INDEXES—Continued
Year
and
month
964. Value of manufacturers' new orders,
durable goods industries (34 industries)
1-month
span
9-month
span
965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)
1-quarter
span
4-Q moving
average
966. Index of industrial
production (24
industries)
1-month
span
6-month
span
967. Index of spot
market prices, raw
industrials <§)
(13 industrial materials)
1-month
span
9-month
span
968. Index of stock
prices, 500 common
stocksx ©
1-month
span
9-month
span
960. Net profits,
manufacturing 2 ©
(about 700 companies)
(4-quarter span)
1980
41
70.8
20.8
41.7
25.0
16.7
12.5
50.0
73.1
61.5
41
16.7
16.7
14.6
16,
12.
16,
r39
39.6
70.8
66.7
3
58.3
50.0
53.8
74.1
52.8
3.8
39.6
47.2
77.4
56
11.5
15.4
0.0
50.0
46.2
46.2
26.4
92.5
89.6
90.6
94.3
86.8
56
37.5
70.8
87.5
53.8
76.9
57.7
46.2
42.3
38.5
92.5
88.7
76.4
84.9
96.2
94.3
*60
95.8
95.8
95.8
65.4
53.8
46.2
61.5
65.4
65.4
43.4
55.7
15.1
90.6
88.7
86.8
*64
r48
79.2
91.7
66.7
79.2
70.8
58.3
30.8
30.8
65.4
38.5
38.5
46.2
66.0
42.5
85.8
79.2
67.3
59.6
*60
r49
83.3
62.5
45.8
54.2
58.3
45.8
69.2
26.9
38.5
46.2
46.2
53.8
81.
30.
67,
44.
42.
*59
r43
56.2
62.5
45.8
87.5
52.1
12.5
31.3
20.8
16.7
61.5
61.5
42.3
61.5
42.3
23.1
19.2
40.4
0.0
46.
32.
9.6
p49
20.8
8.3
20.8
8.3
8.3
10.4
38.5
26.9
46.2
23.1
23.1
15.4
58.7
65.4
67.3
14.4
10.6
34.6
(NA)
r48
33.3
75.0
31.3
0.0
rl2.5
r33.3
42.3
34.6
38.5
15.4
30.8
26.9
10.6
34.6
28.8
34.6
42.3
38.5
p33
r20.8
r39.6
r37.5
p45.8
30.8
34.6
23.1
"26.9
88.5
54.8
11.5
January
February
March
70.6
45.6
41.2
23.5
29.4
32.4
65
April
May
June
19.1
38.2
50.0
47.
63,
44.
18
July
August
September . . .
76.5
50.0
82.4
45.6
64.7
73.5
27
October
November . . .
December . . .
70.6
60.3
55.9
85.3
85.3
79.4
53
January
February
March
41.2
52.9
58.8
88.2
73.5
70.6
r56
April
May
June
64.7
52.9
50.0
50.0
47.
35.
r53
July
August
September . . .
47.1
26.5
47.1
32.
20,
20.
r33
October
26.5
58.8
32.4
29.
20.
14.7
r30
47.1
50.0
35.3
26.5
r20.6
p41.2
3
1981
November . . .
December . . .
P36
59.6
1982
January
February
March
April
May
June
48.
67,
r32.4
July
August
September , . ,
p52.9
p58.3
61.5
"50.0
52.9
October
November . .
December . .
See note on page 74.
Graphs of these series are shown on page 37.
l
Based on 54 industries for January 1980, on 53 industries through May 1981, and on 52 industries thereafter. Data for component industries are not shown in table C2 but are available from the source.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun § Bradstreet, Inc.
3
Based on 12 components (excluding rosin).
"Based on average for August 3, 10, 17, and 24.
IM:
AUGUST 1982
75
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
1
J
Year
and
quarter
DIFFUSION 1NDEXES—Continued
a. Actual
expenditures
b. Later
anticipations
c. Early
anticipations
(1-Q span)
(1-Q span)
(1-Q span
Anticipated
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
Actual
Anticipated
Actual
Anticipated
Actual
973. Net sales, manufacturing
and trade' ®
972. Net profits, manufacturing
and rade' <§)
971. New/ orders, manufacturing l <g)
970. Business expenditures for new plant and
equipment (22 industries)
(4-Q span)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
86.4
68.2
68.2
88.6
52.3
63.6
63.6
47.7
63.6
50.0
68.2
77.3
85
81
73
78
80
84
80
72
78
74
70
72
78
82
80
70
87
84
82
82
85
88
84
78
77.3
59.1
50.0
54.5
54.5
45.5
36.4
40.9
81.8
59.1
81.8
77.3
74
63
60
60
66
75
57
62
62
54
57
56
66
73
59
61
73
62
68
66
72
80
63
67
72.7
63.6
72.7
36.4
72.7
40.9
54.5
59.1
70.5
68*2
77.3
68.2
68
70
62
62
74
74
76
76
60
66
60
60
70
69
74
72
70
74
71
68
78
76
80
80
54.5
(NA)
59.1
22.7
59.1
59.1
65.9
52
(NA)
60
68
64
53
(NA)
61
66
66
63
(NA)
65
70
72
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter , .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1
H
Voar
Tear
and
quarter
974. Number of employees,
manufacturing and trade' (u)
975. Level of inventories,
manufacturing and trade l @
Actual
Actual
Anticipated
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
(4-Q span)
DIFFUSION NDEXES—Continued
976. Selling prices, manu
facturing l @
977. Selling prices, wholesale
trade l (§)
978. Selling prices, retail
trade' ®
Actua 1
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
1979
First quarter
Second quarter
Third quarter
Fourth quarter . . . .
1980
62
60
60
58
60
60
58
56
80
76
73
75
70
74
71
68
92
93
92
94
86
88
88
86
96
95
95
96
88
90
92
90
94
95
94
96
90
92
92
90
First quarter
Second quarter . . . .
Third quarter
Fourth quarter
1981
58
54
53
51
54
56
48
50
67
61
64
60
62
70
53
56
90
88
90
90
87
90
83
86
92
90
92
90
90
92
87
88
92
91
94
90
90
93
84
90
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
51
53
52
52
56
54
56
55
62
64
62
63
63
61
66
64
88
86
84
82
88
90
89
84
90
88
34
32
90
89
89
84
94
90
86
86
90
90
92
87
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
48
(NA)
50
51
51
58
(NA)
54
56
56
72
(NA)
80
76
68
-'2
(NA)
82
78
72
78
(NA)
B?
81
76
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed at the end of the span. Series are seasonally adjusted except for those,
indicated b y ® , 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.
l
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun § Bradstreet, Inc. Dun §
Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
76
AUGUST 1982
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
Diffusion index components
1981
1982
December
January
February
March
May
April
Julyp
June
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING '
(Average weekly hours)
All manufacturing industries
39.1
37.6
39.4
39.0
39.0
39.1
39.2
39.3
Percent rising of 20 components .
(30)
(5)
(95)
(12)
(42)
(75)
(75)
(52)
38.5
37.8
Durable goods industries:
Lumber and wood products
Furniture and fixtures
37.7
37.9
35.0
33.6
37.9
37.7
37.6
37.3
37.6
37.4
r38.5
37.5
Stone, clay, and glass products..
Primary metal industries
39.7
39.2
38.6
38.3
40.1
39.4
40.0
38.8
40.0
38.5
40.2
38.5
Fabricated metal products .,
Machinery, except electrical ,
39.5
40.4
38.1
39.3
39.7
40.7
39.5
40.2
39.4
40.1
Electric and electronic equipment .
Transportation equipment
39.5
39.7
38.3
39.0
39.8
40.5
39.4
40.4
Instruments and related products .
Miscellaneous manufacturing
39.9
38.5
39.0
37.3
39.9
38.6
Food and kindred products
Tobacco manufacturers
39.8
38.1
39.1
36.1
Textile mill products
Apparel and other textile products
37.8
35.1
Paper and allied products.
Printing and publishing ...
+
38.3
37.9
40.4 +
38.9 0
40.6
38.9
39.5
r39.8
39.4
39.8
+
+
39.5
40.0
39.3
41.1
39.4
r41.1
39.5
41.6
+
39.8
41.1
39.9
38.6
39.9
38.5
r40.2
38.7
40.2
38.5
40.2
38.3
39.5
37.3
39.4
36.6
r39.4
r37.2
39.5
38.3
0
39.5
36.7
32.3
31.4
38.3
35.5
37.6
35.0
37.7
34.7
37.9
34.8
37.9
+
35.1
0
38.1
35.1
41.8
37.1
41
36
42.3
37.4
41.8
37.1
42.1
37.1
41.8
r36.8
42.0
37.0
+
42.2
36.9
Chemicals and allied products .
Petroleum and coal products ..
41.3
42.7
41.0
44.3
41.2
43.5
40.7
43.5
40.7
44.0
.41.0
r44.1
41.1
44.0
-
41.0
43.3
Rubber and miscellaneous plastics products..
Leather and leather products
39.4
36.1
37.9
34.1
40.0
35.6
39.6
35.8
39.8
35.6
39.9
r35.6
40.1
35.8
+
40.2
35.5
+
76,911
+
40.0
38.6
Nondurable goods industries:
964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES '
(Millions of dollars)
All durable goods industries
Percent rising of 34 components .
76,421
75,061
(32)
(47)
+
Machinery, except electrical
Electrical machinery
-
16,343
11,566
Transportation equipment
Other durable goods industries.
+
14,617
15,642
76,309
+
(50)
77,859
76,890
r76,278
74,506
(35)
(48)
(68)
(32)
(53)
9,163
8,777
+
8,241
9,052
+
7,596
9,819
8,137
8,988
8,453
9,405
8,617
9,389
+
8,545
9,711
+
15,120
11,842
-
14,506
11,391
+
14,438
12,782
15,264
12,508
14,408
11,888
13,015
11,705
+
+
13,623
12,583
+
-
15,182 +
14,977 +
17,305
15,814
+
17,138
16,086
16,594
15,399
rl6,011
16,113
16,347
15,433
+
+
16,982
15,467
8,981 +
9,272
Primary metals
Fabricated metal products
+
+
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and ( - ) = falling.
preliminary; and "NA"t not available.
The "r" indicates revised; "p",
l
Data are seasonally adjusted by the source agency.
Data for most of the diffusion index components are not available for publication, but they are included in the totals and directions of
change for the six major industry groups shown here.
2
AUGUST 1982
77
CYCLICAL INDICATORS
C
I DIFFUSION INDEXES AND RATES OF CHANGE—Continued
SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1981
1982
December
February
January
March
April
July p
June
Ma/
966. INDEX OF INDUSTRIAL PRODUCTION
(1967 = 100)
143.4
140.7
142.9
141.7
140.2
139.2
(21)
(33)
(75)
(31)
(21)
(40)
Lumber and products.,
Furniture and fixtures ,
104.8
149.4
99.2
144.3
+
+
104.9
148.4
103.5
150.2
Clay, glass, and stone products,..
Primary metals
131.5
89.6
128.5
89.7
+
135.0
88.5
Fabricated metal products
Nonelectrical machinery,.,
126.1
167.4
120.7
160.9
+
Electrical machinery
Transportation equipment
170.7
103.7
Instruments
Miscellaneous manufactures .
All industrial production
Percent rising of 24 components *
138.2
138.1
(38)
(58)
Durable manufactures:
rlO6.2
151.8
111.0
151.2
111.5
150.0
(NA)
(NA)
131.5
83.0
127.0
r76.4
124.4
74.6
125.8
72.7
(NA)
73.1
121.4
160.0
121.1
157.3
119.1
153.7
116.0
150.2
114.8
145.9
114.9
142.1
168.2
96.6
172.9
102.0
172.6
104.4
rl72.2
105.9
170.5
110.0
171.3
111.7
171.4
114.0
166.8
147.9
162.2
144.9
164.5
144.5
163.0
145.3
162.8
144.6
163.5
143.6
164.1
140.8
163.3
1143.0
Foods
Tobacco products .
152.8
112.6
151.1
112.7
151.7
126.7
150.8
126.7
rl49.7
116.1
150.0
117.2
(NA)
(NA)
(NA)
(MA)
Textile mill products
Apparel products....
122.8
114.1
120.0
(NA)
125.8
126.0
126.3
(NA)
124.4
(NA)
123.4
(NA)
(NA)
(NA)
Paper and products . . . .
Printing and publishing ,
146.6
145.3
148.3
145.6
151.5
146.4
150.6
145.9
rl49.8
144.2
146.5
143.3
144.6
141.0
Chemicals and products
Petroleum products . . . .
199.8
128.3
196.7
123.3
201.3
119.5
200.
121.
rl98.6
rl20.8
194.0
121.8
192.2
125.9
Rubber and plastics products.
Leather and products
247.3
65.6
244.7
63.1
251.8
64.0
253.4
61.2
255.1
r60.6
255.1
61.2
257.5
60.4
Metal mining .
Coal
110.9
145.5
121.3
147.9
120.8
156.0
109.9
155.6
rlO8.8
146.2
90.6
149.2
71.4
144.4
(NA)
142.0
Oil and gas extraction , . .
Stone and earth minerals
150.5
115.7
151.5
115.8
146.6
120.5
141.4
121.6
rl37.7
119.6
133.4
117.3
129.4
118.7
127.0
+
+
+
+
Nondurable manufactures:
<NA)
(NA)
143.9
140.5
+
(NA)
128.1
(NA)
(NA)
Mining:
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:
preliminary; and "NA", not available,
( + ) = rising, (o) = unchanged, and ( - )
= falling,
The "r" indicates revised; "pM,
1
Data are seasonally adjusted by the source agency.
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
a
78
(NA)
AUGUST 1982
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE-Continued
0 1
Diffusion index components
SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directionsof Change-Continued
1982
1981
December
February
January
March
April
May
June
August1
July
967. INDEX OF SPOT MARKET PRICES RAW INDUSTRIALS J
Raw industrials price index (1967 = 100) ....
-
264.2 -
-
(42)
(46)
Percent rising of 13 components
263.4
261.0
-
254.5
-
(38)
(35)
247.4 -
245.5
-
(35)
(31)
232.2
+
(23)
237.0 -
235.6
(62)
(50)
Dollars
0.565
1.246
-
0.530
1.168
+
0.534
1.177
-
0.530
1.168
-
0.427
0.941
+
0.465
1.025
-
0.458
1.010
0.168
0.370
0.175
0.386
-
0.160
0.353
-
0.152
0.335
-
0.150 0.331
0.142
0.313
+
0.146
0.322
+
0.166
0.366
+ 81.600 + 88.000
89.948 . 97.002
83.750
92.318
74.600
82.232
-
72.750
80.192
-
70.000
77.161
57.800
63.713
+ 59.000 o
65.036
59.000
65.036
5.284
11.649
-
0.368
0.811
+
0.388 +
0.855
0.398
0.877
0.238
0.260
-
0.236
0.258
+
0.240
0.262
Copper scrap
(pound).,
(kilogram)..
-
0.578
1.274
-
0.572
1.261
Lead scrap..
(pound).,
(kilogram)..
-
0.180 0.397
. .
(U.S. ton)..
(metric ton)..
....
.(pound)..
(kilogram)..
+
.(pound)..
(kilogram)..
-
0.451
0.994
(yard)..
(meter)..
-
(pound).,
(kilogram)..
Print cloth..
Steel scrap
-
5.658
5.280 +
11.640
12.474
7.120 +
7.200
15.697
15.873
+
7.280
16.049
6.080
13.404
-
5.830 +
12.853
5.842
12.879
-
+
0.436
0.961
0.402
0.886
-
0.362 o
0.798
0.362
0.798
0.229 +
0.250
0.233 o
0.255
0.233
0.255
+
0.235
0.257
+
0.244
0.267
0.242
0.265
-
0.553 +
1.219
0.577
1.272
-
0.571
1.259
+
0.598
1.318
+
0.618 +
1.362
0.625
1.378
-
0.613
1.351
+
0.659 1.453
0.618
1.362
(yard).,
(meter)..
-
0.734
0.803
0.710 0.776
0.700
0.766
-
0.693
0.758
-
0.650 0.711
0.630 0.689
0.626
0.685
-
0.588 0.643
0.545
0.596
Wool tops ..
(pound).,
(kilogram)..
o
3,600 7.937
3.580
7.892
-
3.520
7.760
-
3.460
7.628
-
3.412
7.522
-
3.400
7.496
0
3.400
7.496
o
3.400 o
7.496
3.400
7.496
Hides
(pound).,
(kilogram)..
+
0.584 +
1.287
0.590
1.301
0
0.590
1.301
-
0.584
1.287
-
0.545
1.202
+
0.558
1.230
-
0.526
1.160
+
0.541 +
1.193
0.542
1.195
Rosin
(100 pounds)..
(100 kilograms)..
o
47.000 o 47.000
103.616
103.616
0
47.000
103.616
+
53.500
117.946
-
49.000
108.025
-
47.000
103,616
0
47.000
103,616
o
Rubber
(pound).,
(kilogram)..
+
0.484
1.067
-
0.483
1.065
-
0.470
1.036
+
0.471
1.038
-
0.460
1.014
-
0.458
1.010
0.463
1.021
+
0.468
1.032
Tallow
(pound).,
(kilogram)..
+
0.180
0.397
-
0.167
0.368
-
0.161
0.355
+
0.171
0.377
+
0.177
0.390
+
0.182
0.401
0.176
0.388
-
0.168
0.370
Tin
Zinc
Burlap ..
Cotton
-
0.433
0.955
+
+
-
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and ( - ) = falling,
preliminary; and "NA", not available.
47.000 o 47.000
103.616
103.616
0.465
1.025
-
0.147
0.324
The "r" indicates revised; "p"
1
Average for August 3,.10, 17, and 24.
Data are not seasonally adjusted. These series are based on copyrighted data used by permission; they may not be reproduced without
written permission from Commodity Research Bureau, Inc. Components are converted to metric units by the Bureau of Economic Analysis.
3
AUGUST 1982
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
i9
Year
and
quarter
b. Difference
(Ann rate,
bil. dol.)
(Ann. rate,
bil. dol.)
217. Per capita
GNP in 1972
50. Gross national i >roduct in 1972 dollars
200. Gross national product in current dollars
a. Total
GNP AND 'ERSONAL INCOME
b. Difference
a. Total
c. Percent
change at
annual rate
(Ann . rate
bil. dol.)
(Ann. rate,
bi . dol.)
213. Final sales
in 1972 dollars
Hnllarc
QOIIars
c. Percent
change at
annual rate
(Ann. rate,
dollars)
(Ann. rate,
bil dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1,459. 7
1,455. 4
1,481. 9
1,491. 6
2 335.5
2 377.9
2 ,454.8
2 502.9
53.9
42.4
76.9
48.1
9. 8
7. 5
13. 6
8. 1
1,472 .6
1,469 .2
1,486 .6
1,489 .3
4 .2
-3 .4
17 .4
2 .7
-0 .9
4 .8
0.7
2
2
2,
2
575.9
573.4
643.7
739.4
73.0
-2.5
70.3
95.7
12. 2
-0. 4
11. 4
15. 3
1,494 9
1,457 .8
1,463 .8
1,479 'A
5 .6
-37 .1
6 .0
15
1 *
-9 .6
1.6
4 .3
6,4i; J
6,42!
6,47; •
1,497. 5
1,460.' 3
1,472. 3
L485! 7
2
2
2
3
864.9
901.8
980.9
003.2
125.5
36.9
79.1
22.3
19. 6
5. 3
11. 4
3. 0
U507 .8
L,502 .2
1,510 .4
1,490 .1
28 .4
-5 .6
8.2
-20 .3
7.9
-1 .5
2.2
-5 .3
6,58: J
6,544\
6,56; J
6,45*I
1,505. 4
1,490. 1
1,493. 9
1,485. 3
2 995.5
041.2
-7.7
r45.7
-1. 0
r6. 2
1,470 .7
rl,475 .3
-19 .4
r4 .6
-5 .1
r l .3
6,36C)
r6,36>t
1,486. 1
rl,480. 6
.i
6,570
6,53^ i
6.59J
6,58f
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
6,59;j
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
D
Year
and
quarter
ia
GNP AND PERSONAL INCOME—Continued
Disposable personal income
224. Current dollars
(Ann. rate,
bi . dol.)
PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars
231. Total in 1972
dollars
232. Durable goods
in current dollars
(Ann rate,
bit. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
225. Constant
(1972) dollars
(Anr . rate,
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
1,587. 5
1,624. 0
1,674. 3
1,714. 9
1,011
1,011
1,019
1.02C
1,766. 9
1,781. 0
1,845. 5
1,902. 9
1,022
1,005
1,018
1,025
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
.1
.7
.8
.1
4 ,511
4 ,502
4 ,524
4 ,511
1 ,446 .3
1 , 4 7 6 !o
1 , 5 2 8 .3
1 , 5 7 8 .0
921 ,2
919 '.5
930 .9
938 .6
211.1
208! 7
217.3
216.6
148.
144! 9
149. 1
146. 3
.8
.5
.2
.7
4 ,511
4 ,423
4 ,466
4 ,487
1 , 6 1 8 .7
1 , 6 2 2 .2
1 ,682 .0
1 ,745 .8
937 .0
915 .8
928 .0
941 .0
220.8
199.0
212.7
224.7
145. 4
128. 9
134. 6
139. 5
1,958. 7
1,996. 5
2,060. 0
2,101. 4
1,035 .0
1,036 .6
1,048 .8
1,051 .9
4 ,519
4 ,516
4 ,557
4 ,559
1 , 7 9 9 .9
1 ,819 .4
1 ,868 .8
1 ,884 .5
951 .1
944 .6
951 .4
943 .4
236.9
230.4
241.2
229.6
145. 3
138. 6
142. 2
134. 1
2.117 1
r2*,154! 5
rl,056 .1
1,046 .9
4 527
r4 ,558
.. ,919 4
r l ,945 '.8
949 I
r953 IB
237.9
137. r
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
5
NOTE: Series are seasonally adjusted except for those, indicated by ( § ) , that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order.
Complete titles and sources are listed at the back of this issue. The "r" indicates revised; " p " , preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 40 and 4 1 .
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
i
Q f
Q j GROSS PRIVATE
'ERSONAL CONSUMPTION EXPENDITURES—Continued
Year
and
quarter
236. Nondurable
goods in current
dollars
(Ann. rate,
bil. dol.)
238. Nondurable
goods in 1972
. dollars
(Ann. rate,
bil. dol.)
237. Services in
current dollars
239. Services in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
240. Total in
current dollars
241. Total in
1972 dollars
(Ann. rate,
bit. dol.)
(Ann. rate,
bil. dol.)
DOMESTIC INVESTMENT
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
569.3
586.0
609.3
635.5
349.9
349.2
353.4
359.8
666.0
681.3
701.7
725.9
422.8
425.4
428.5
432.6
415.1
428.3
431.9
416.8
241.5
241.3
237.2
225.3
401.9
420.2
419.4
228.6
227.6
232.4
227.6
650.6
656.7
673.7
700.5
357.8
352.7
353.7
359.0
747.3
766.6
795.6
820.6
433.9
434.3
439.7
442.5
424.0
391.0
384.1
410.3
222.7
201.9
199.2
209.6
424.6
391.4
405.3
428.0
225.3
204.4
207.8
215.9
720.6
729.6
741.3
746.5
361.6
361.7
363.0
363.1
842.4
859.4
886.3
908.3
444.2
444.3
446.2
446.2
455.7
475.5
486.0
468.9
221.6
229.5
233.4
218.9
443.5
450.9
454.2
455.7
219.2
217.4
216.9
214.1
749.1
r755.0
362.2
r364.6
932.4
r950.6
449.5
r451.2
414.8
r429.7
195.4
r201.0
450.4
r447.0
210.8
r206.3
393.5
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
• •
Wm
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST—Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)
M l
260. Total in
current dollars
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
GOVERNMENT PURCHASES OF GOODS AND SERVICES
262. Federal
263. Federal
Government in
current dollars
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.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
21.5
26.4
11.8
-2.6
12.9
13.7
4.8
-2.3
456.9
464.5
478.5
497.6
276.4
276.8
278.8
281.2
164.4
163.2
168.0
177.8
101.0
101.9
103.4
292.5
301.2
310.5
319.8
177.8
-0.7
-0.4
-21.2
-17.7
-2.6
-2.5
-8.5
-6.2
519.2
536.0
538.5
559.8
284.7
286.9
283.4
283.2
189.6
198.8
193.3
207.0
106.4
109.1
105.5
104.8
329.6
337.2
345.2
352.8
178.3
177.8
177.9
178.4
12.2
24.6
31.8
13.2
2.4
12.1
16.5
4.8
578.1
583.2
600.2
626.3
286.8
283.9
286.4
291.3
217.0
218.2
230.0
250.5
107.9
107.0
110.7
116.0
361.1
365.0
370.1
375.7
179.0
176.9
175.7
175.3
-35.6
r-17.4
-15.4
r-5.3
630.1
r630.6
289.2
r284.7
249.7
r244.5
114.4
rlO9.8
380.4
r386.0
174.9
rl74.9
102.2
174.2
175.9
176.8
1980
First quarter . . . . . .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
,
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 41, 42, and 43.
AUGUST 1982
81
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
^ J
255. Constant
(1972) dollars
250. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dot.)
280. Compensation of
employee;;
257. Constant
(1972) dollars
253. Current
dollars
256. Constant
(1972) dollars
252. Current
dollars
NATIONAL INCOME
AND ITS COMPONENTS
220. National income in current
dollars
Imports of goods and services
Exports of goods and services
Net exports of goods and services
Year
and
quarter
• M
Wm
FOREIGN TRADE
(Ann. rate,
bil dol.)
(Ann. rate,
bit. dol.)
(Ann, rate,
bil dol.)
1979
17.2
9.1
16.1
10.5
33.4
31.5
39.8
44.2
256.1
268.2
290.6
310.5
138.8
140.4
149.2
156.4
238.9
259.1
274.5
300.0
105.4
109.0
109.4
112.2
1,907.4
1,941.3
1,993.6
2,024.5
1,406.5
1.434.9
1,477.6
1,513.6
....
14.0
24.2
39.0
23.5
50.5
53.2
53.1
45.6
335.7
337.3
337.2
346.7
164.4
161.2
155.9
155.1
321.7
313.1
298.2
323.2
113.9
108.0
102.8
109.6
2,079.7
2,067.2
2.122.3
2,199.2
1,555.2
1,571.7
1,(504.9
1,662.8
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
31.2
23.7
25.9
23.5
48.2
44.2
39.2
36.5
365.4
368.9
367.2
367.9
159.3
159.7
157.8
156.9
334.2
345.1
341.3
344.4
111.1
115.5
118.7
120.4
2,293.7
2,324.4
2,387.3
2,404.5
1,718.0
1,750.0
1,789.1
1,813.4
31.3
r35.1
36.9
r35.7
359.9
r365.3
r!54.0
151.7
328.6
r330.2
114.7
rll8.3
2,396.9
p2.425.1
1,830.8
rl,850.6
First quarter
Second quarter
Third quarter
Fourth quarter
....
....
1980
First quarter
Second quarter
Third quarter
Fourth quarter
....
1981
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
^ J
282. Proprietors'
income with inventory valuation and
capital consumption adjustments
Year
and
quarter
(Ann. rate,
bil. dol)
D
NATIONAL INCOME AND ITS COMPONENTS-Continued
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil. dol.)
286. Corporate
profits with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
288. Net interest
(Ann. rate,
bil. dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil. dol.)
SAVING
295. Business
saving
292. Personal
saving
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter
Third quarter
Fourth quarter
128.9
134.1
133.3
132.2
28.2
27.0
27.2
29.2
201.3
197.2
197.5
183.1
142.5
148.1
158.1
166.4
423.1
432.2
431.4
404.4
301.6
308.0
318.7
313.9
98.0
102.8
98.6
87.3
....
122.7
108.9
315.5
....
118.0
30.8
32.7
33.8
34.2
195.3
172.2
177.8
181.2
175.7
181.6
190.4
203.0
410.8
395.8
404.4
414.0
322.3
330.2
335.5
340.3
97.9
108.6
113.1
105.3
123.4
123.8
327.5
124.1
34.4
34.0
33.6
33.6
200.3
185.1
193.1
183.9
217.6
231.6
244.0
249.5
461.4
482.4
490.0
476.3
362.7
367.0
379.1
389.1
105.9
122.0
134.4
1158.6
116.4
rllS.l
33.9
34.2
157.1
pl54.9
258.7
r267.4
428.8
p444.9
381.2
p385.6
rl49,4
....
....
1980
First quarter
Second quarter
Third quarter
Fourth quarter
1981
First quarter
Second quarter
Third quarter
Fourth quarter
....
....
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
139.1
See note on page 80.
Graphs of these series are shown on pages 44, 45, and 46.
82
AUGUST 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Q
Year
and
quarter
SAV(NG—Continued
298. Government
surplus or deficit,
total
(Ann. rate,
bil. dol.)
Q |
293. Personal
saving rate
(percent of disposable personal
income)
SHARES OF GNP AND NATIONAL INCOME
Percent of gross national product
235. Personal consumption expenditures, total
(Percent)
(Percent)
248. Nonresidential
fixed investment
249. Residential
fixed investment
(Percent)
(Percent)
247. Change in
business inventories
251. Net exports of
goods and services
(Percent)
(Percent)
1979
First quarter
Second quarter
Third quarter
Fourth quarter . . . .
22.2
20.1
12.9
2.1
6.2
6.3
5.9
5.1
61.9
62.1
62.3
63.0
11.9
11.9
12.2
12.1
5.0
5.0
5.0
4.7
0.5
-0.1
0.7
0.4
0.7
0.4
-10.6
-44.2
-45.9
-32.2
5.5
6.1
6.1
5.5
62.8
63.0
63.6
63.7
12.1
11.7
11.6
11.6
4.4
3.5
3.7
4.0
0.0
0.0
-0.8
-0.6
0.5
0.9
1.5
0.9
-8.3
-7.6
-24.5
-72.5
5.4
6.1
6.5
7.5
62.8
62.7
62.7
62.7
11.5
11.8
11.8
12.0
4.0
3.8
3.4
3.2
0.4
0.8
1.1
0.4
1.1
0.8
0.9
0.8
-91.6
p-90.1
6.6
r6.9
64.1
64.0
11.9
11.6
3.1
3.1
-1.2
-0.6
1.0
1.2
0.9
1.1
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
Q |
SHARES OF GNP AND NATIONAL INCOME-Continued
1
Year
and
quarter
Percent of national income
Percent of GNP—Continued
265. Federal Government purchases of
goods and services
(Percent)
268. State and local
government purchases
of goods and services
64. Compensation of
employees
(Percent)
(Percent)
283. Proprietors'
income with IVA
and CCAdj'
285. Rental income
of persons with
CCAdj'
(Percent)
(Percent)
287. Corporate
profits with IVA
and CCAdj>
289. Net interest
(Percent)
(Percent)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter
12.6
12.8
73.7
73.9
74.1
74.8
6.8
6.9
6.7
6.5
1.5
1.4
1.4
1.4
10.6
10.2
9.9
9.0
7.5
7.6
7.9
8.2
7.4
7.7
7.3
7.6
12.8
13.1
13.1
12.9
74.8
76.0
75.6
75.6
5.9
5.3
5.4
5.4
1.5
1.6
1.6
1.6
9.4
8.3
8.4
8.2
8.4
8.8
9.0
9.2
7.6
7.5
7.7
8.3
12.6
12.6
12.4
12.5
74.9
75.3
74.9
75.4
5.4
5.3
5.3
5.2
1.5
1.5
1.4
1.4
8.7
8.0
8.1
7.6
9.5
10.0
10.2
10.4
8.3
8.0
12.7
12.7
76.4
p76.3
4.9
p4.9
1.4
pi.4
6.6
p6.4
10.8
pll.O
7.0
6.9
6.8
7.1
12.5
12.7
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 46 and 47.
2
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
AUGUST 1982
83
OTHER IMPORTANT ECONOMIC MEASURES
B
I
PRICES, WAGES, AND PRODUCTIVITY
1 9 PRICE
Year
Implicit price deflator,
Fixed-weighted price index,
gross national product
gross business product
310. Index
and
month
(1972 = 100)
310c. Change
over 1-quarter
spans'
(Ann. rate,
percent)
311. Index
(1972 = 100)
311c. Change
over 1-quarter
spans'
(Ann. rate,
percent)
MOVEMENTS
Consumer prices, food
Consumer prices, all terns
320. Index ®
320c. Change
over 1-month
spans'
320c. Change
322. Index
over 6-month
spans '
322c. Change
over 1-month
spans'
(Percent)
percent)
over S-month
spans'
(Ann. rate,
(Ann. rate,
(1967 = 100)
322c. Change
(1967 = 100)
(Percent)
percent)
1980
15.5
15.0
14.5
244.5
244.9
246,9
0.4
0.2
10.4
242.5
244.9
247.6
0.9
0.9
1.0
11.6
10.4
9.6
248.6
250.4
251.7
0.7
0.7
0.5
7.7
10.8
12.2
9.9
247.8
249.4
251 7
0.1
0.7
1.0
10.0
10.3
10.3
253.7
257.8
261.5
0.8
1.6
1.4
12.5
13.4
13.5
253.9
256.2
258.4
1.1
1.1
1.0
11.8
12.4
11.4
263.7
266.6
268.2
0.8
1.1
0.6
12.7
10.5
10.4
260.5
263.2
265.1
0.8
1.0
0.6
10.0
9.3
8.8
269.3
271.0
271.7
0.4
0.6
0.3
6.6
4.6
3.8
8.6
266.8
269.0
071 0
0.4
0.8
n 7
9.6
9.3
in a
272,3
272.6
273 2
0.2
0.1
02
4.3
4.1
49
9.3
274.4
276.5
1.1
0.8
10.5
9.8
i
1
Q 1
0.7
0.5
n 7
5.0
5.0
?7Q ^
275.0
276.5
070 0
A 7
7.4
279.9
280.7
281.5
0.4
0.5
0.4
7.2
6.0
3.2
279.0
279.3
279.5
0.3
0.1
0.1
4.8
4.9
2,8
4.4
282.5
283.4
283.1
0.3
0.2
-0 3
2.8
3.7
51
281.5
283.2
282 2
0.7
0.6
-0 4
2.9
4.4
5 6
r4.0
284.3
287.1
290.6
0.2
1.0
1.0
5.7
283.0
285.4
287.2
0.3
0.8
0.6
3.9
292.2
0.6
287.0
-0.1
March
10.1
April
183.4
176.5
May
June
July
9.6
180! 6
August
1871s
September
10.0
10.5
October
November
185.2
7.7
7.9
6.8
1.4
1.2
1.4
178.9
172.3
February
233.2
236.4
239.8
11.0
10.5
January
192! 3
December
0.8
a.o
1981
10.9
January
i9o!6
February
197ll
March
April
6.8
May
20^2
193^2
June
July
9.0
August
September
October
November
197^4
205^7
8.8
201! 6
209 .*4
December
1982
January
February
4.3
203^7
2iils
March
April
May
r4.9
r206.*i
June
July
August
September
r213.*9
October
November
December
See note on page 80.
Graphs of these series are shown on pages 48 and 49.
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, and
1-quarter changes are placed on the 1st month of the 2d quarter.
84
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
M R
Producer (Hices, industrial commodities
Producer prices, all commodities
Year
and
month
330. Index <g)
330c. Change
over 1-month
spansl @
(1967 = 100)
(Percent)
PRICE MOVEMENTS-Continued
330c. Change
over 6-month
spans' (u)
(Ann. rate,
percent)
335. Index ©
(1967 = 100)
335c. Change
over 1-month
spans1 <§)
(Percent)
Producer prices, crude materials
335c. Change
over 6-month
spansl (g)
(Ann. rate,
percent)
331. Index
(1967 = 100)
331c. Change
over 1-month
spans*
(Percent)
331c. Change
over 6-month
spansl
(Ann. rate,
percent)
1980
January
February
March
254.9
260.2
261.9
2.1
2.1
0.7
14.5
14.2
13.1
260.6
265.9
268.6
3.0
2.0
1.0
18.7
17.7
16.8
289.0
295.1
289.0
0.0
2.1
-2.1
0.5
0.9
0.1
April
May
June
262.8
264.2
265 6
0.3
0.5
0.5
12.5
10.7
9.9
271.3
271.9
273.5
1.0
0.2
0.6
12.3
9.5
7.7
283.2
287.5
289.2
-2.0
1.5
0.6
10.6
16.3
22.8
July
August
September
270.4
273.8
274 6
1.8
1.3
0 3
11.7
11.6
11 8
276.2
278.2
278.8
1.0
0.7
02
8.0
8.6
9.8
304.0
318.2
320.3
5.1
4.7
0.7
32.1
31.0
26.8
October
November
December
277.8
279.1
280 8
1.2
0.5
06
10.9
10.3
11 8
282.0
283.4
286.6
1.1
0.5
1 i
11.4
13.0
15 5
325.5
329.0
325.7
1.6
1.1
-1.0
17.2
8.9
5.1
January
February
March
284.8
287.6
290.3
1.4
1.0
0.9
11.5
11.0
10.2
291.5
295.7
299.6
1.7
1.4
1.3
15.8
15.6
13.3
329.1
332.1
328.4
1.0
0.9
-1.1
4.8
2.9
7.0
April
293.4
294.1
1.1
0.2
1.3
0.4
10.3
7.9
c o
333.2
333.7
336 9
1.5
0.2
1 0
5.2
1.4
0 0
1981
May
June .
8.2
6.2
303.5
304.7
1 o
one i
n 1
9QA Q
n o
July
August
September
296.2
296.4
295.7
0.5
0.1
-0.2
1.8
1.0
0.7
306.2
307.2
307.4
0.4
0.3
0.1
3.7
3.0
3.2
337.6
334.4
328.4
0.2
-0.9
-1.8
-6.2
-9.1
-13.4
October
November
December
296.1
295.5
295.8
0.1
-0.2
0.1
1.4
1.5
rl.6
309.0
309.3
310.0
0.5
0.1
0.2
3.7
2.9
2.4
322.7
318.1
313.6
-1.7
-1.4
-1.4
-10.5
-10.0
-8.2
298.3
298.6
r298.0
0.8
0.1
-0.2
1.2
2.1
2.4
311.8
311.6
311.0
0.6
-0.1
-0.2
5.8
0.1
0.5
319.3
317.3
r314.7
1.8
-0.6
-1.5
5.9
8.7
April
May
June
297.9
298.6
299.4
0.0
0.2
1.5
309.9
309.5
310.7
-0.4
-0.1
0.4
0.8
0.3
320.2
327.3
327.0
rl.7
2.2
-0.1
July
August
September
300.6
0.4
313.0
0.7
323.7
-1.0
1982
January
February
March
r-0.8
2.8
October
November
December
See note on page 80.
Graphs of these series are shown on page 48.
1
Changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
licit
AUGUST 1982
85
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
H I
332. Index
(1967-100)
332c. Change
over 1-month
spans'
(Percent)
Producer prices, finished consumer goods;
Producer prices, capital equipment
Producer prices, intermediate materials
Year
and
month
PRICE MOVEMENTS-Continued
332c. Change
over 6-month
spans'
(Ann. rate,
percent)
333. Index
(1967 = 100)
333c. Change
over 1-month
spans'
(Percent)
333c. Change
over 6-month
spans l
(Ann. rate,
percent)
334. Index
(1967-100)
334c. Change
over 1-month
spans'
334c. Change
over (i-month
spans'
(Percent)
(Ann. rate,
percent)
1980
January
February
March
267.1
272.0
273.9
2.5
1.8
0.7
15.0
14.3
14.2
228.2
230.0
232.1
1.4
0.8
0 9
13.1
12.2
11 9
235.9
239.4
242 1
1.7
1.5
1 1
15.6
12.9
13 1
April
May
June
274.2
276.0
278.5
0.1
0.7
0.9
10.8
9.0
8.5
235.6
236.3
238.1
1.5
0.3
0.8
11.4
11.9
10.5
243.5
244.4
246.6
0.6
0.4
0.9
13.2
12.9
10.8
281.1
284.0
285.3
0.9
1.0
0.5
10.2
10.7
11.0
240.9
243.3
244.0
1.2
1.0
0.3
11.0
11.6
11.0
251.0
254.4
254.8
1.8
1.4
0.2
11.3
12.0
10.8
287.9
290.4
293.4
0.9
0.9
1.0
11.7
10.4
11.7
248.2
249.6
250.9
1.7
0.6
0.5
11.0
10.7
11.7
256.9
258.7
259.6
0.8
0.7
0.3
9.5
8.2
10.5
January
February
March
297.1
298.4
301.5
1.3
0.4
1.0
11.6
10.8
9.4
253.8
256.0
257.9
1.2
0.9
0.7
9.9
10.2
10.8
262.7
264.6
267.8
1.2
0.7
1.2
10.8
9.4
9.8
April
May
June
304.1
305.7
306.9
0.9
0.5
0.4
7.5
7.7
5.6
260.2
262.0
264.1
0.9
0.7
0.8
9.5
9.1
7.8
270.4
270.6
272.0
1.0
0.1
0 5
7.9
6.7
4 6
July
August .
September
308.1
309.7
309.8
0.4
0.5
0.0
3.7
3.2
2.8
265.6
267.4
267.8
0.6
0.7
0.1
8.1
8.2
7.7
272.9
273.3
273.9
0.3
0.1
0.2
3.6
4.3
3.6
October
November
December
309.7
310.6
311 1
0.0
0.3
02
2.5
0.9
rO 2
270.5
272.5
274 1
1.0
0.7
0 6
7.5
5.2
r6 0
275.2
276.3
q
0.5
0.4
n9
4.1
3.6
312.0
311.1
r310.1
0.3
-0.3
r-0.3
-0.8
-1.2
-0.9
275.4
274.3
r275.7
0.5
-0.4
rO.5
4.5
3.9
4.3
278.5
278.2
r277.3
0.6
-0.1
r-0.3
\,2
0.2
2.0
April
May
June , . .
308.5
308.8
309.7
r-0.5
0.1
0.3
-0.6
276.5
277.7
279.9
rO.3
0.4
0.8
4.3
276.8
276.6
279.7
r-0.2
-0.1
1.1
2.0
July
August
September
311.0
0.4
281.2
0.5
281.3
0.6
July
August
September
.. .
October
November
December
1981
07c
1982
January
February
March
October
November
December
See note on page 80.
Graphs of these series are shown on page 48.
1
Changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
86
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted'
Year
and
month
340. Index
(1977 = 100)
340c. Change
over 1-month
spans 2
(Percent)
Current-dollar compensation
Real earnings
Current-dollar earnings
340c. Change
over 6-month
spans 2
(Ann. rate,
percent)
341. Index
(1977=100)
341c. Change
over 1-month
spans 2
(Percent)
341c. Change
over 6-month
spans 2
(Ann. rate,
percent)
1980
345. Index
345c. Change
over 1-quarter
spans 2
(1977=100)
(Ann. rate,
percent)
Revised3
Revised3
January
February
March
121.7
122.7
124.1
0.3
0.9
1.1
9.4
9.5
9.6
94.4
94.0
93.8
-1.1
-0.4
-0.2
-5.1
-4.6
-4.2
125.9
April
May
June
124.6
125.8
127.0
0.5
0.9
1.0
10.2
9.9
8.8
93.3
93.4
93.4
-0.5
0.1
0.0
-1.2
-0.3
-0.8
129.0
July
August
September . . .
127.7
128.7
129.4
0.6
0.7
0.6
10.0
10.2
9.0
93.8
93.8
93.4
0.5
0.0
-0.5
0.0
-0.4
-1.6
132.3
October
November . . .
December . . .
130.7
132.0
132.6
1.0
1.0
0.4
9.6
9.8
9.9
93.3
93.2
92.7
-0.1
-0.2
-0.5
-2.2
-2.5
-1.4
135.4
January
February
March
133.7
134.8
135.7
0.8
0.8
0.6
9.1
8.6
8.9
92.8
92.7
92.7
0.2
-0.2
0.1
-0.6
-0.4
0.6
139.2
April
May
June
136.6
137.6
138.4
0.7
0.8
0.6
8.1
8.7
8.7
93.0
93.0
92.9
0.3
0.0
-0.1
-1.3
-0.3
-1.3
141.6
July
August
September . . .
139.1
140.5
141.4
0.5
1.1
0.6
8.1
8.0
7.6
92.2
92.5
92.1
-0.8
0.3
-0.4
-2.0
-1.4
-1.4
144.7
October
November . . .
December . . .
142.0
143.0
143.5
0.4
0.7
0.3
8.6
6.4
5.7
92.1
92.3
92.3
-0.1
0.3
-0.1
1.6
0.5
2.6
147.4
144.9
145.0
145.4
1.0
0.1
0.3
6.3
r6.6
r6.4
92.9
92.8
93.3
0.7
-0.2
0.6
3.7
r3.0
rl.5
150.1
April
May
June
146.3
rl47.7
rl48.0
0.6
0.9
P 5.3
0.4
-0.1
-0.8
p-0.3
r0.3
93.7
93.7
r93.0
July
August
September . .
p!48.7
p0.4
P92.8
p-0.2
11.8
345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)
Revised3
10.4
10.4
10.6
10.4
10.6
9.7
9.7
1981
11.8
9.4
6.9
8.9
9.2
7.8
7.5
p7.6
1982
January
February
March
7.7
p!52.3
P5.9
October
November . .
December . .
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, 1-quarter
changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter.
3
See "New Features and Changes for This Issue," page iii.
AUGUST 1982
87
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
* ^ 9 WAGES AND PRODUCTIVITY—Continued
Negotiated wage and benefit
decisions, all industries (g)
Average hourly compensation, all employees,
nonfarm business sector-Continued
Year
and
month
346. Index
346c. Change
over 1-quarter
spans'
(1977-100)
1980
348. First year
average changes
Real compensation
Revised
January
February
March
2
(Ann. rate,
percent)
(Ann. rate,
percent)
Revised
346c. Change
over 4-quarter
spansl
2
Revised
April
May
June
(Ann. rate,
percent)
2
-i'.h
(1977=100)
2
6.7
-2*2
-2.5
370. Index
Revised
8.8
-4.1
96.4
(Ann. rate,
percent)
349. Average
changes over
life of
contract
Output Der hour, all persons , private
business sector
370c. Change
over 1-quarter
spans'
370c. Change
over 4-quarter
spansl
(Ann. rate,
percent)
(Ann. rate,
percent)
Revised
2
0.6
99*3
10.2
7.4
-4.3
98.*2
Revised
2
358. Index of
output per hour,
all persons,
nonfarm
business sector
(1977=100)
Revised 2
-6!s
98.7
6!2
97!6
i!i
98! 4
2!5
99.2
Z.I
I06! 4
6!9
106! 6
-0:7
106! 6
P-6!4
99! i
*:'
July
August
September
96*3
October
November
December
95*7
11.4
2.4
7.2
-6*6
-2.8
6!6
2.6
98.*9
8.5
6.1
2.0
99.' 3
1981
January
February
March
95*7
April
May
June
95! 7
July
August
September
95!i
October
November
December
95.*1
0.4
7.7
7.2
11.6
-0.1
10.8
-6!6
8.1
ioi!6
EM
11.0
-0.3
0.0
io6!7
10.5
-2.5
5.6
106! 7
•"I"
5.8
p6*7
ioo!2
1.1
-2.9
1982
January
February . . . .
March
April
May
June
4.3
rpl.9
rpl.2
pi.2
p96\4
-1.0
106*6
96* 1
P 2.1
pi.6
99*2
pi.2
pioo!3
P 9
^
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
l
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.
2
See "New Features and Changes for This Issue," page iii.
AUGUST X982
OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Q |
Civilian labor force
Year
and
month
CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Labor force participation rates
448. Number em-
Number unemployed
441. Total
442. Employed
451. Males
20 years
and over
452, Females
20 years
and over
453. Both
sexes, 16-19
years of age
(Thous.)
(Thous.)
(Percent)
(Percent)
(Percent)
37. Total
(Thous.)
444. Males
20 years
and over
445. Females
20 years
and over
446. Both
sexes, 16-19
years of age
(Thous.)
(Thous.)
(Thous.)
447. Fulltime
workers
(Thous.)
ployed
part-time
for economic
reasons
(Thous.)
1980
January
February
March . . .
106,493
106,548
106,321
99,833
99,913
99,607
79.6
79.7
79.4
51.3
51.2
51.1
57.6
57.1
57.0
6,660
6,635
6,714
2,722
2,682
2,826
2,370
2,383
2,351
1,568
1,570
1,537
5,276
5,241
5,397
3,567
3,539
3,531
April
June
106,482
107,022
106,809
99,112
98,963
98,785
79.4
79.7
79.3
51.3
51.3
51.3
55.9
57.3
56.8
7,370
8,059
8,024
3,276
3,630
3,644
2,578
2,640
2,653
1,516
1,789
1,727
5,987
6,568
6,666
3,943
4,397
4,172
July
August
September
107,221
107,159
107,232
98,891
98,920
99,208
79.4
79.4
79.3
51.4
51.5
51.3
57.4
55.7
56.5
8,330
8,239
8,024
3,772
3,731
3,756
2,739
2,751
2,588
1,819
1,757
1,680
6,908
6,833
6,732
4,243
4,315
4 11?
October
November
December
107,437
107,600
107,531
99,328
99,534
99,632
79.3
79.3
79.2
51.4
51.5
51.4
56.6
56.2
56.1
8,109
8,066
7,899
3,607
3,595
3,476
2,784
2,767
2,783
1,718
1,704
1,640
6,709
6,747
6,617
4,236
4,222
4,191
January
February
March
107,923
108,034
108,364
99,901
100,069
100,406
79.1
79.0
79.2
51.7
51.8
52.0
56.6
56.5
56.2
8,022
7,965
7,958
3,461
3,433
3,410
2,804
2,763
2,787
1,757
1,769
1,761
6,611
6,537
6,553
4,451
4,227
4,290
April
May
June
108,777
109,293
108,434
100,878
101,045
100,430
79.2
79.6
78.9
52.1
52.4
52.3
57.0
56.6
53.9
7,899
8,248
8,004
3,337
3,595
3,497
2,796
2,871
2,824
1,766
1,782
1,683
6,442
6,631
6,577
4,200
4,264
4,033
July
August
September
108,688
108,818
108,494
100,864
100,840
100,258
78.9
78.9
78.8
52.3
52.2
51.8
54.5
55.1
55.1
7,824
7,978
8,236
3,298
3,459
3,569
2,872
2,825
2,918
1,654
1,694
1,749
6,365
6,400
6,757
4,374
4,350
4,656
October
November
December
109,012
109,272
109,184
100,343
100,172
99,613
78.8
78.8
79.0
52.3
52.4
52.2
54.8
55.0
54.0
8,669
9,100
9,571
3,851
4,105
4,543
3,017
3,109
3,175
1,801
1,886
1,853
7,204
7,545
8,127
5,009
5,026
5,288
January
February
March
108,879
109,165
109,346
99,581
99,590
99,492
78.5
78.5
78.5
52.1
52.2
52.4
54.2
54.6
53.8
9,298
9,575
9,854
4,322
4,351
4,548
3,104
3,286
3,435
1,872
1,938
1,870
7,805
7,897
8,355
5,071
5,563
5,717
April
May
109,648
110,666
June
110,191
99,340
100,117
99,764
78.7
79.1
78.8
52.4
52.8
53.0
54.3
55.7
52.4
10,307
10,549
10,427
4,742
4,904
5,031
3,586
3,608
3,554
1,979
2,037
1,842
8,601
8,717
8,873
5,834
5,763
5,444
July
August
September
110,522
99,732
78.8
53.2
53.1
10 790
5 088
3 684
C
? m
R
,UIO
Q QAO
O ,
3tt
May
1981
1982
October
November
December
See note on page 80.
Graphs of these series are shown on page 5 1 .
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
DEFENSE INDICATORS
RECEIPTS AND EXPENDITURES
Federal Governmentl
Year
and
month
500. Surplus
or deficit
(Ann. rate,
oil. dol.)
Advance measures of defense activity
State and local governments'
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bil. dol,)
(Ann. rate,
bil. dot.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann, rate,
bil. dol.)
517. Defense
Department
gross obligations incurred
525. Defense
Department
military prime
contract
awards
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers'
nev/ orders,
defence
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
1980
January . .
February .
March . . .
-39.7
525.7
565.4
29.1
374.5
345.3
12,578
12,399
13,806
5,491
6,839
5,887
71,178
71,665
73,179
3,583
3,680
4,741
April . ,
May . .
June . .
-67.5
520.2
587.7
23.3
376.6
353.3
13,722
13,718
12,809
6,944
6,901
6,450
73,912
74,252
74,592
4,489
3,724
4,230
July
August . . ,
September ,
-73.1
542.4
615.4
27.1
389.3
362.2
12,677
13,728
13,552
6,211
7,188
6,893
74,870
75,133
76,745
5,839
4,128
5,483
October . .
November
December
-65.2
574.6
639.9
33.0
403.3
370.3
13,014
12,876
15,825
5,639
6,773
9,835
77,777
78,183
79,936
3,963
3,770
5,122
January
February
March
-39.7
620.0
659.7
31.3
410.0
378.6
14,808
15,741
15,560
7,155
7,514
7,590
82,087
83,608
84,883
4,341
15,340
4,198
April . ,
May . ,
June . .
-40.5
627.0
667.5
32.9
415.2
382.2
15,210
15,699
15,156
8,505
7,967
7,041
84,994
85,165
86,126
4,153
4,842
4,680
July
August
September , . .
-58.0
640.2
698.2
33.5
420.3
386.9
16,836
17,374
16,584
8,845
9,504
9,325
87,968
89,857
91,896
5,010
5,010
5,927
October
November . . .
December . . .
-101.7
625.7
727.4
29.1
421.5
392.4
12,892
15,674
19,805
4,466
9,817
9,049
91,354
92,575
93,827
4,109
5,003
5,644
-119.3
609.0
728.3
27.7
424.2
396.5
19,361
20,608
18,869
9,756
13,761
9,870
98,818
102,677
105,418
6,573
7,213
7,065
p-122.4
P613.6
r736.0
p32.3
p434.1
r401.9
20,793
rl7,786
pl7,503
10,518
9,657
14,296
108,428
108,841
109,654
r6,174
4,775
r5,437
(NA)
(NA)
(NA)
P4.639
1981
1982
January
February
March
April
May
June
July
August
September . . .
October , .
November
December
See note on page 80.
Graphs of these series are shown on pages 52 and 53.
l
Based on national income and product accounts.
90
AUGUST 1982
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
DEFENSE INDICATORS—Continued
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of
defense and
space equipment
559. Manufacturers' inventories, defense
products
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
(1967=100)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
588. Manufacturers' shipments, defense
products
570. Employment in defense products
industries
(Mil. dot.)
(Thous.)
Defense Department
personnel
577. Military,
active duty <g)
578. Civilian,
direct hire
employment (§)
(Thous.)
(Thous.)
564. Federal
purchases of
goods and
services
(Ann. rate,
bil. dol.)
565. Federal
purchases as
a percent of
GNP
(Percent)
1980
January
February
March
97.2
97.6
97.4
8,448
8,504
8,849
48,917
49,594
51,293
10,900
10,652
11,358
2,829
3,003
3,042
1,346
1,352
1,358
2,029
2,032
2,033
964
965
966
April
May
June
97.6
97.4
97.7
9,012
9,177
9,319
52,708
53,276
54,378
11,188
11,061
11,537
3,074
3,157
3,127
1,360
1,364
1,365
2,028
2,031
2,034
969
975
July
August
97.9
97
98,
9,604
9,917
9,966
57,023
58,009
60,068
11,193
11,425
11,993
3,194
3,141
3,424
1,367
1,373
1,377
2,044
2,049
2,051
99.
1OO,
101.0
10,238
10,298
10,535
60,597
60,863
62,544
12,193
12,224
11,992
3,433
3,504
3,440
1,382
1,386
1,388
January . . . .
February . . .
March
100.9
100.5
100.7
10,918
11,154
11,406
63,458
65,143
65,468
12,639
12,932
12,619
3,427
3,655
3,873
April
May
June
101.5
102.0
101.7
11,627
11,760
12,155
65,852
66,940
67,758
12,833
13,433
13,264
July
August
September ..
102.6
102.8
103.0
12,163
12,217
12,492
68,799
69,711
71,650
October . . . .
November . .
December . .
104.5
105.3
107.0
12,618
12,962
13,154
105.2
106.5
107.0
April
May
June
July
August
September . .
126.8
4.9
130.0
5.1
990
973
971
130.5
4.9
2,053
2,056
2,051
971
972
973
138.1
5.0
1,391
1,388
1,390
2,056
2,061
2,062
973
972
974
143.1
5.0
3,768
3,754
3,863
1,393
1,393
1,394
2,060
2,064
2,070
980
990
1,008
150.5
5.2
13,889
13,809
14,014
3,968
4,099
3,988
1,394
1,396
1,396
2,082
2,084
2,083
1,023
1,017
984
154.4
5.2
71,701
72,560
73,919
14,227
14,548
15,298
4,057
4,145
4,285
1,391
1,384
1,389
2,090
2,097
2,093
998
1,006
1,009
166.9
5.6
13,334
13,598
13,857
76,490
79,329
81,905
14,152
14,689
15,075
4,002
4,374
4,490
1,385
1,378
1,376
2,104
2,109
2,107
1,008
1,013
1,018
166.2
5.5
rlO7,
rlO7,
rlO8.1
13,946
14,029
14,227
15,670
15,379
rl5,334
r4,271
4,669
r4,821
1,373
rl,369
pi,366
2,106
2,104
2,108
1,022
1,028
1,045
rl76.1
r5.8
plO9.O
(NA)
83,808
83,914
r84,530
p84,418
pl6,287
p4,748
(NA)
September ..,
October
November . .
December . .
1981
1982
January . . . .
February . . .
March
pi,051
October....
November . .
December . .
See note on page 80.
Graphs of these series are shown on pages 54 and 55.
AUGUST 1982
91
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS
MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
(Mil, do!.)
604. Exports of agricultural products
606. Exports of nonelectrical machinery
(Mil.dol)
(Mil.dol.)
612. General imports,
total
(Mil.dol.)
614. Imports of
petroleum and
petroleum products
(Mil. do!.)
616. Imports of
automobiles and parts
(Mil. do.l)
1980
January
February
March
17,419
16,984
18,265
3,442
3,484
3,325
3,297
3,454
3,423
21,181
21,834
24,866
5,614
7,741
6,991
1,899
2,035
1,960
April
May
June
18,567
17,647
18,440
3,329
3,326
3,085
3,571
3,620
3,943
19,831
20,658
20,427
5,185
7,191
6,611
1,710
.1,999
1,843
July
August
September . . .
18,267
19,086
18,828
3,286
3,557
3,596
3,985
4,230
4,027
19,189
19,719
19,934
5,153
6,018
4,982
2,1139
2,270
October
19,217
18,715
19,251
3,485
3,464
3,838
4,117
3,968
3,819
20,327
19,856
21,427
5,876
6,051
6,254
2,189
2,314
1,897
January
February
March
18,902
19,788
21,278
4,295
3,977
4,201
4,058
4,155
4,352
22,616
21,916
21,029
7,359
8,018
5,992
2,264
1,742
2,125
April
May
June
19,786
18,899
19,750
3,604
3,708
3,256
4,311
4,160
4,388
22,249
21,232
22,005
6,919
6,329
6,521
2,042
2,299
2,257
July
19,289
19,031
19,551
3,089
3,202
3,563
4,567
6,207
4,559
20,114
23,242
21,274
5,400
6,335
5,709
2,108
2,635
1,943
19,163
19,153
18,885
3,735
3,442
3,220
4,338
4,366
4,005
23,077
22,508
19,746
6,123
6,483
4,636
2,464
2,239
2,164
January
February
March
18,737
18,704
18,602
3,258
3,590
3,225
4,346
4,054
3,997
22,829
19,090
20,349
6,810
4,396
4,290
2,389
2,135
2,596
April
May
June
17,843
18,218
18,822
3,400
3,527
3,332
3,932
3,957
4,211
17,387
20,558
21,310
3,560
4,027
4,823
2,264
2,896
1,798
July
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
November . . .
December . . .
1981
August
September . . .
October
November . , .
December . . .
1982
August
September . . .
October
November . . .
December . . .
See note on page 80.
Graphs of these series are shown on page 56.
92
AUGUST 1982
ltd)
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Q j
GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted'
Goods and services
Year
and
month
668. Exports
667. Balance
(Mil.dol.)
(Mil.dol.)
669, Imports
(Mil. dol.)
622. Balance
(Mil.dol.)
618. Exports
(Mil.dol.)
Income on investments
620. Imports
(Mil.dol.)
651. U.S. investments abroad
(Mil.dol.)
652. Foreign
investments in
the United
States
{Mil.dol,)
1980
January
February
March . . .
37
85,277
85,240
-9,679
54,752
64,431
19,944
10,505
306
82,949
82,643
-6,520
55,843
62,363
16,016
10,268
July
August
September
4,824
85,385
80,561
-3,949
55,786
59,735
17,848
10,485
October
November
December
3,13i
88,491
85,360
-5,190
57,856
63,046
18,877
11,518
4,667
93,280
88,613
-4,312
60,683
64,995
20,528
12,405
April
May
June
2,909
94,389
91,480
-6,547
60,284
66,831
21,642
13,441
July
August
September
2,559
92,965
90,406
-7,845
57,694
65,539
22,048
13,865
October
November
December
943
92,259
9i,3ie
-9,i85
57,593
66,778
21,727
13,198
p3,170
p90,363
p87,i93
-6,059
55,6K)
61,669
p21,188
pl4,208
(NA)
(NA)
(NA)
p-5,117
p55,616
p60,733
(NA)
(NA)
April
May
June
1981
January
February
March
.
1982
January
February
March
April
May
June
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 57.
1
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department of
Defense purchases (imports).
AUGUST 1982
93
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
INDUSTRIAL PRODUCTION
Year
and
month
47. United States,
index of industrial production
(1967-100)
721. OECD 1
European countries, index of
industrial
production
728. Japan,
index of industrial production
725. West
Germany, index
of industrial
production
726. France,
index of industrial production
722. United
Kingdom, index
of industrial
production
(1967 = 100)
(1967-100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
727. Italy, index
of industrial
production
(1967 = 100)
723. Canada,
index of industrial production
(1967-100)
1980
January
February
March
153.0
152.8
152.1
163
163
163
230.7
241.0
235.0
164
167
164
166
167
166
130
128
125
168.9
176.1
174.6
162.9
1161.9
164.8
April
May
June
148.2
143.8
141.4
163
158
159
238.2
235.7
234.4
164
161
160
167
160
160
124
124
124
176.1
162.3
167.4
160.8
158.4
158.1
July
August
September . . .
140
142
144
161
154
155
234.5
225.3
233.4
161
157
157
166
166
156
123
120
118
165.2
141.5
160.8
157.5
158.8
160.9
October
November . . .
December . . .
146.6
149.2
150.4
156
156
156
235.7
232.6
236.4
160
157
156
159
157
163
118
117
117
163.2
169.5
159.4
162.0
162.7
163.1
January
February
March
151.4
151.8
152.1
154
159
158
237.2
237.0
237.7
156
164
160
156
159
157
116
117
117
158.6
170.3
169.3
160.7
163.8
166.2
April
May
June
151,
152,
152,
156
156
155
238.0
235.2
240.7
160
160
156
156
159
160
117
116
118
168.4
158.0
159.8
166.2
168.4
169.8
July
August . . . .
September , .
153.9
153.6
151.6
156
152
156
243.1
240.7
245.6
157
157
160
157
157
160
117
117
118
164.2
137.2
164.1
165.9
163.0
160.6
October
November . . .
December . . ,
149.1
146.3
143.4
156
158
156
248.3
248.4
247.1
160
157
156
160
160
163
121
118
118
160.2
170.8
160.3
158.3
155.6
153.6
140.7
142.9
141.7
156
159
158
245.8
244.0
247.1
160
161
163
156
156
157
117
118
118
160.9
173.6
168.1
152.2
151.8
150.0
(NA)
p244.8
e238.2
e242.0
pl63
el62
(NA)
pl56
el59
(NA)
pll8
el20
(NA)
pl67.6
el67.1
el60.0
rl4786
rlSO.l
P145.9
(NA)
(NA)
1981
1982
January . . .
February
March
April
May
June
140.
rl39,
rl38.
July
August
September . . .
pl38.1
(NA)
October
November . . .
December . . .
See note on page 80.
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
AUGUST 1982
licit
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Q
United States
Year
and
month
320. Index ®
(1967 = 100)
Japan
320c. Change
over 6-month
spans'
(Ann. rate,
percent)
738. Index ®
CONSUMER PRICES
West Germany
738c. Change
over 6-month
spans'
735. Index ®
United Kingdom
France
735c. Change
over 6-month
spans'
736. Index ©
736c. Change
over 6-month
spans'
732. Index ®
732c. Change
over 6-month
spans'
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
1980
January
February
March
233.2
236.4
239.8
15 5
15.0
14 5
271.3
273.3
275.0
9.9
9.6
9.4
171.0
172.8
173.8
5.6
5.6
5.5
277.2
280.2
283.4
14.8
14.5
14.1
394.1
399.7
405 1
20.2
19.8
19.5
April
May
June
242 5
244.9
247.6
11.6
10.4
9.6
280 1
282.6
284.0
8.5
7.6
8.0
174,9
175.6
176.5
6.4
5.5
4.9
286.7
289.3
291.1
12.7
12.5
12.1
419.0
422.8
426.8
17.2
14.4
13.3
July
August
September
247.8
249.4
251.7
10.0
10.3
10.3
284.0
283.2
288,3
6.1
7.2
5.5
176.8
177.0
177.0
4.6
5.0
5.4
295.5
298.4
301.0
12.2
12.6
13.2
430.4
431.3
434.1
10.9
11.3
11.1
October
November
December
253.9
256.2
258.4
11.8
12.4
11.4
288.8
289.4
288,3
6.2
5.3
4.6
177.3
178.3
179.4
5.4
5.4
6.3
304.3
306.4
309.1
12.9
12.7
12.6
436.8
440.3
442.7
9.1
10.6
12.0
January
February
March
260.5
263.2
265 1
10.0
9.3
8.8
291.1
290.8
292 2
4.4
3.1
3.8
180.9
182.3
183 5
6.6
6.2
5.7
312.7
315.6
318.8
13.2
13.0
13.0
445.5
449.5
456 2
13.0
12.1
11.6
April
May
June
266.8
269.0
271.3
9.6
9.3
10.4
294.5
297.0
297,3
2.6
2.9
3.2
184.7
185.4
186.3
6.3
6.7
6.9
323.1
326.0
329.2
13.8
14.3
15.3
469.4
472.4
475.2
12.5
12.1
10.7
274.4
276.5
279.3
10.5
9.8
9.1
296.4
294.7
299.5
3.9
4.1
4.2
187.1
187.7
188.6
6.9
7.1
6.9
334.9
339.0
342.9
14.9
15.7
15.1
477.3
480.8
483.5
10.4
11.8
12.5
279.9
280.7
281.5
7.2
300.7
299.8
299.8
4.0
3.3
2.4
189.2
190.1
190.7
6.3
4.8
3.5
347.1
350.3
352.4
13.9
13.6
13.0
487.9
493.0
496.1
11.5
9.9
10.0
282.5
283.4
283.1
2.8
3.7
300.7
299.8
300.4
1.9
0.5
0.1
192.3
192.8
193.1
3.0
3.5
4.9
356.0
359.6
363.8
13.0
12.0
12.0
499.0
499.1
503.5
8.4
7.3
r6.0
284.3
287.1
290.6
5.7
302.9
303.8
303 8
(NA)
194.0
195.2
197.1
4.9
368.2
371.1
373.7
(NA)
513.6
517.3
r518 9
6.0
1981
July
August
September
. . .
October
November
December
6.0
3.2
1982
January
February
March
. .
Apri)
May
June
July
August
September
292.2
5.1
(NA)
197.6
(NA)
518.9
. ..
October
November
December
See note on page 80.
Graphs of these series are shown on page 59.
l
Changes over 6-month spans are centered on the 4th month.
AUGUST 1982
95
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
STOCK PRICES
CONSUMER PRICES—Continued
Year
and
month
748. Japan,
index of
stock
prices (u)
746. France,
index of
stock
prices <§)
742. United
Kingdom,
index of
stock
prices (§)
747. Italy,
index of
stock
prices ©
index of
stock
prices (§)
over 6-month
spans'
745. West
Germany,
index of
stock
prices (g)
(Ann. rate,
percent)
(1967-100)
(1967-100)
(1967 = 100)
(1967-100)
(1967 = 100)
(1967-100)
(1967-100)
203.8
207.4
185.4
224.3
239.4
231.6
59.8
61.1
61.1
224.7
256.3
203.2
Canada
737. Index ® 737c. Change
over 6-month
spans l
733. Index @ 733c. Change
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
M l Canada,
19. United
States, index
of stock
prices, 500
common
stocks (u)
Italy
1980
22.3
22.5
19.9
231.3
233,3
235.8
9.9
9.7
9.9
120.6
125.5
113.9
413.0
117
123
118
384.3
388.2
391.7
18.9
19.3
20.3
237.2
240.0
242.7
10.4
11.2
11.7
112.0
117.1
124.6
417.6
422.9
423.8
116.5
118.8
120.6
189.0
201.1
201.4
228.1
230.3
240.7
61.0
61.5
64.8
212.8
216.4
227.5
July
August
September . . .
398,
403,
411,
20.0
21.4
22.7
244.5
246.8
249.0
12.2
12.5
12.4
130.4
134.3
137.6
424.9
429.1
437.6
121.2
121.7
120.0
198.9
199.9
203.0
255.9
256.7
262.6
66.0
74.
82.
240.0
232.3
233.5
October
November . . .
December . , .
418.
427,
432.5
20,
20,
20.3
251.2
254.3
255.8
13.6
13.1
13.2
141.7
147.6
145.2
447.5
447.8
443.5
120.6
117.2
116.3
218.0
215.2
206.6
267.4
277.5
267.6
93.
99.
96.0
223.3
235.2
219.9
January
February
March
440.7
449.1
455.4
20.1
20.1
19.3
259.1
261.7
265.2
13.1
12.2
13.2
144.6
139.7
144.9
457.9
458.2
467.3
115.3
114.0
116.3
191.
201,
209.
259,
269.
April
May
June
461.3
468.7
473.9
18.9
18.2
16.8
267.2
269.6
273.8
12,
12,
11.
146.2
143.3
143.9
494.6
502.8
515.2
122,
122,
126.1
197,
162,
152.3
293,
295,
July
August
September . . .
477.7
481.0
487.7
17.7
16.8
17.0
276.2
278.2
280.2
12,
12.
11.0
140.5
141.0
128.7
534.4
540.7
511.3
127.5
122.5
122.5
October
497.5
506.0
511.1
15.8
15.3
15.6
283.0
285.4
286.7
10.6
10.9
11.2
130.3
133.7
134.7
493.8
505.6
512.7
January
February
March
517.7
524.4
529.1
13.8
13.6
13.1
288.7
292.1
295.8
10.5
11.4
11.4
127.6
124.6
120.6
April
May
June
533.9
539.8
545.2
15.9
297.5
301.5
304.5
11.1
July
August
September . . .
553.4
January
February
March
367.9
374.3
378.2
April
May
June
420,
425,
1981
November . . ,
December . . .
110.0
122.1
125.9
223
218,
233,
232,
245,
289.0
132.4
135.9
123,5
168.9
177.4
176.5
284.8
298.6
278.9
99.1
-112,0
99.1
232.
231.
192.
118.8
118.0
117.7
163.9
169.2
170.7
259.5
278.0
284.2
91.2
93.8
96.9
190.
208.
201.2
518,
516,
486,
116.8
118.4
120.1
185.7
193.1
145.9
291.1
300.1
298.8
95.0
98.8
104.2
185.3
176.7
173.1
126.5
126.6
119.7
484.5
503.4
489.6
120.6
117.6
114.2
184.8
pl92.4
P182.6
303.2
315.4
314.6
96.7
91.0
83.1
171.2
168.4
153.8
119.0
pll8.3
rp485.9
P478.4
113.5
pll2.6
rpl80.0
P177.5
P309.9
p319.9
rp77.8
p83.5
rpH8.4
pl!56.O
273.2
242.9
1982
306.1
October
November . . .
December . . .
See note on page 80.
Graphs of these series are shown on page 59.
l
Changes over 6-month spans are centered on the 4th month.
96
AUGUST 1982
ltd*
C. Historical Data for Selected Series
Year
Jan.
Feb.
Mar.
Apr.
June
May
July
Oct.
Sept.
Aug.
Nov.
Dec.
IQ
II Q
6. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES , IN CURRENT DOLLARS 1
(BILLIONS OF DOLLARS)
1948...
1949...
1950...
1951...
1952,,.
1953...
1954..,
1955...
1956...
1957...
1958...
1959...
1960.,.
1961...
1962...
1963...
1964...
1965,..
1966...
1967...
1968...
1969,..
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
7.46
7.14
7.56
15.46
11.06
14.45
9.99
13.48
15.72
15.16
12.94
15.68
15.54
14.09
17.46
18.19
20.40
22.12
25.51
24.70
27.41
29.26
27.92
29.85
32.32
40.52
45.56
41,06
45.55
56.56
63.77
78.91
83,62
82.53
7.50
7.08
7.62
1 1.08
1 1.06
1/1.21
10.31
13.92
14.61
15.64
12.47
16.97
15.97
14,68
17.81
18.82
20,03
22,44
25.80
24.87
27,30
29.99
27.69
30.10
33.06
41.42
45.48
40.37
47.72
56.48
66.29
81.78
82.83
82.70
964. DIFFUSIO N INDEX 3F
1948..,
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960.,.
1961...
1962...
1963...
1964,..
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
66^7
73.8
40.5
66.7
42.9
77.1
31.4
38.6
54.3
70.0
28.6
37.1
57.1
62.9
80,0
54.3
48.6
48.6
48.6
54.3
50.0
57.1
57.1
57.1
60.0
54.3
64.3
47.1
38.2
52.9
70.6
41.2
8.00
6.16
8.35
13.84
12,94
13.69
10. 17
14.24
15.69
14.11
11.80
16.84
15.02
15.25
16.67
18.66
20.46
22.99
26.29
24.72
27.57
31.52
26.86
29.12
33,66
42.53
45.86
40.64
50.43
59.33
71.04
77.88
74.64
86.41
8.85
5.93
11.52
12.61
12.04
12.35
10.50
14.98
14.75
13.43
13.17
15.79
15.28
15.72
17.03
18.86
21.62
23.37
26.28
25.65
27.11
29.60
27.68
29.61
34.21
42.50
49.71
43.88
53.46
60.54
71.03
78.11
78.94
87.58
38.1
57.1
52.4
45.2
38.6
31.4
72.9
57.1
38.6
31.0
76.2
47.6
61.9
68.6
51.4
35.7
67.1
20.0
38.1
81.0
52.4
19.0
27.1
44.3
57.1
51,4
60.0
57.1
52.4
28.6
61.9
14.3
65.7
87.1
50.0
50.0
67.1
48.6
58.6
60.0
70.0
32.9
37.1
72.9
45.7
38.6
64.3
55.7
51.4
62.9
62.9
65.7
45.7
71.4
54.4
67.6
55.9
45.6
52.9
68.6
44.3
62.9
38.6
52.9
65.7
62.9
71.4
42 . 9
57.1
54.3
34.3
48.6
60.0
68.6
54.3
34.3
61.4
69.1
60.3
70.6
41.2
58.8
25.7
55.7
65.7
54.3
65.7
61 .4
55.7
40.0
48,6
40.0
62,9
57.1
61.4
60.0
42,9
50.0
67.1
45.7
68.6
47.1
51.4
60.0
67.1
62.9
28.6
95.2
47.6
66.7
77.1
77,1
45.7
25.7
41.4
54.3
55.7
42.9
44.3
48.6
70.0
68.6
61.4
47.1
48. 6
44.3
55.7
54.3
54. 3
62.9
38.6
65.7
80.0
57.1
55.9
85,3
38.2
19.1
64.7
61,4
47.1
37.1
57.1
60.0
54.3
62.9
74.3
51.4
62.9
63.2
52.9
64.7
38.2
52.9
68.6
54.3
42.9
51.4
47.1
60.0
42.9
48.6
47.1
52.9
55.9
52.9
35.3
50.0
50.0
37,1
51.4
45.7
51.4
55.7
54.3
54.3
57.1
80.0
70.0
47.1
50.0
42.6
76.5
47.1
100.0
47.6
42 . 9
52.4
55.7
88.6
34.3
25.7
61.4
78.6
100.0
50.0
26. 2
28.6
65.7
94.3
40.0
17.1
74. 3
68.6
8,34
6.77
12.00
11.98
11.85
9.99
12.64
15.74
14.84
12.96
14.13
15.77
14.54
16.32
17.82
18.98
20,43
23.85
25.99
25.74
30,04
30.13
25.43
30.00
36.67
44.41
45.78
43.33
7.95
7.12
10.95
11.55
11.95
9.94
11.14
15.74
15.78
13.58
15.34
14.73
14.72
17.01
17.70
18.90
20.84
24.54
25.64
26.39
29.03
29.71
26,12
31.25
37.87
46.10
45.47
44.35
7.72
7.00
11.88
11.18
12.89
9.96
12.60
16.42
15.73
12. 54
14.59
15.96
14.89
17.59
18.62
18,66
22.04
25.15
25.54
26.61
29.14
29.55
29.04
31.92
39.30
43.51
41,21
44. 27
22.78
20.89
23.04
44.18
34.93
42.00
30.02
42.36
45.37
45.94
37.91
49,30
46.72
43.26
52.32
56.02
60.18
67.32
78.14
73.95
83.61
89.33
83.04
89.74
98.59
124.79
136.22
119.67
24.91
17,93
26.97
39.97
36.80
40.47
30.21
43.59
45.91
42.92
37.30
49.72
45.76
46.51
50.32
55.85
61.68
68.19
79.05
77.42
82.29
90.46
82.68
87.16
102.37
128.24
143.54
121.80
26.15
19.70
37.52
34.77
36.46
32.95
32.64
45.76
47.26
41.10
40.37
46.
76
47.06
48.53
51.88
56.46
62.98
70.32
79.39
77.55
83.19
89.66
82.41
89.83
106.04
127.98
149.81
131.14
24,01
20.89
34.83
34.71
36.69
29.89
36.38
47.90
46,35
39.08
44,06
46.46
44.15
50.92
54.14
56. 54
63.31
73.54
77.17
80.74
88.21
89.39
80.59
93.17
113.84
134.02
132.46
131.95
61 .49
74.25
77.48
76.34
84.82
63.
21
75.46
79.32
81.81
84.46
64.46
78.32
78.05
83.08
77.19
64.22
79.57
78.16
82.89
78.59
67.28
77.90
78.36
84.98
76.42
171,72
198.54
244.43
245.42
249.09
180.43
214.42
238.31
215.40
260.72
185.24
220.74
234.91
237.09
256.86
195.96
235.79
234.57
250.95
232.20
19.0
33.3
81.0
64.3
32.9
58.6
68.6
75.7
35.7
48.6
54.3
68.6
55.7
48.6
41.4
45.7
57.1
85.7
31.0
23.8
66.7
47.1
57.1
40.0
40.0
52.9
57.1
84! 3
45.7
54.3
61.4
57.1
64.3
64.3
52.9
44.3
. 55.7
51.4
62.9
50.0
57.1
42.9
51 .4
42.9
41 .4
57.1
77.1
48.6
37.1
48.6
45.7
70,6
70.6
52.9
50.0
26.5
78,6
72.9
71.4
42,9
65.7
51.4
4S.7
51.4
54.3
61 .8
61.8
54.4
82.4
47.1
65.7
50,0
5.7
44.3
42.9
65.7
31.4
60.0
48.6
47.1
76.5
38.2
70.6
26.5
66.7
83,3
38.1
28.6
20.0
58.6
65.7
68.6
57.1
67.1
83.3
57.1
38.1
38.1
45.7
48.6
58.6
80.0
44.3
82.9
30.0
38.6
51.4
62.9
42.9
55.7
80.0
42.9
68.6
42.9
42.9
62.9
60.0
71.4
62.9
30.0
57.1
65.7
67.6
47.1
55.9
60.3
58.8
44. 3
48.6
68.6
81.4
91.4
78.6
97 .1
42.9
58.6
34. 3
67.1
60.0
70.0
92.9
88.6
91.4
44.3
71.4
34. 3
62.9
57.1
71.4
74.3
82.9
85,7
42.9
74.3
82.9
62.9
68.6
80.0
80.0
81.4
58.6
54.3
40.0
68.6
91.4
86.6
82.9
25.7
91.4
91.2
86.8
82.4
23.5
88.2
20.0
68.6
91.4
85.7
80.0
28.6
87.1
91.2
92.6
79.4
29.4
73.5
34.3
75.7
91.4
84.3
68.6
45.7
94.3
82.4
79.4
72.1
32.4
70.6
22.9
71 .4
85.7
80.0
65.7
62.9
80.0
82.4
79.4
67.6
47.1
50.0
revisions
beginning
with
60.3
52.4
47.6
44.6
46,7
72.4
39.0
45.7
40.0
63.6
40.5
52.9
51.9
61.9
59.5
51.4
64.3
42.1
69.9
42.9
47.6
36.7
53.8
60.0
56.2
43.3
56.2
47.1
47.1
65,7
52.8
59.5
60.5
55.2
51.0
60.3
69.8
36.5
54.0
48.1
64. 3
50.5
44.8
50.5
59.5
55.2
47.6
55.7
55.2
58.6
58.1
57.1
52.4
51.6
58,7
50.8
53.2
46.2
59.5
57.6
64.8
31.4
56. 7
44.7
45.7
49.0
51.4
54.3
54.8
69.5
45.7
47.1
51.4
65.7
68.6
68.6
37.1
25.7
51.4
71.4
64.7
52.9
50.0
55.9
32.4
48.1
57.6
46.7
52.4
60.0
62.9
60.0
44.8
65.7
56.9
55.4
59.8
52.5
51.0
48.6
45.2
54.3
53.8
59.1
48.1
62.9
59.5
57.6
58.3
63.7
46.1
35.8
55.9
60.5
53.8
54.7
51.9
65,7
51.4
46.6
60.0
56.7
59.8
60.6
50.0
69.6
40.2
51.9
48.1
44.8
57.6
61.0
55.2
29.0
56.2
61.9
59.8
58.8
48.0
62.3
39.2
85. 7
90.5
9.5
90. 5
85.7
38.1
27.1
91.4
68.6
41.4
28.6
85.7
22.9
42.9
72.9
80.0
77.1
77.1
94.3
34.3
68.6
82.9
34.3
60.0
82.9
88.6
75,7
17.1
91.4
82.4
85.3
88.2
51.5
85.3
20.6
22.9
88.6
71.4
51 .4
25.7
94.3
34.3
61.4
91.4
77.1
80.0
80.0
97.1
40.0
71.4
91.4
22.9
60.0
94.3
91 .4
71.4
28,6
85. 7
85.3
100.0
88.2
44.1
79.4
14.7
66. 7
95.2
23.8
38.1
7.1
65.7
74.3
68.6
20.0
85,7
47.1
8.6
94.3
71.4
64.3
17.1
68.6
51.4
7.1
83.6
87.1
38.6
25.7
82.9
41.4
11.4
94.3
68.6
54.3
28.6
85.7
42.9
68.6
65.7
71.4
85.7
80.0
68.6
51.4
52.9
85.7
62.9
62.9
74.3
81.4
62.9
62.9
72.9
77.1
62.9
44.3
71.4
91.4
48.6
65.7
68.6
71 .4
60.0
62.9
80.0
82.9
31.4
80.0
74.3
71.4
68.6
77. 1
80.0
85.7
40.0
78.6
77.1
75,7
64.3
61.4
74.3
91/4
34.3
72.9
84.3
34.3
57.1
80.0
78.6
62.9
58.6
97.1
88.2
88.2
67.6
63.2
47.1
31.4
61.4
85.7
81.4
48.6
65.7
85.7
91.2
94 .1
64.7
44.1
35.3
50.0
68.6
80.0
72.9
42.9
80.0
85.7
94.1
88.2
61.8
45.6
32.4
62.9
80.0
88.6
62.9
31.4
77.1
80.0
91.2
82.4
55.9
64.7
20.6
57.1
82.9
82.9
68.6
34.3
74.3
82.9
85.3
70.6
76.5
73.5
20.6
54.3
77.1
83.6
80.0
17.1
80.0
73.5
91.2
85.3
64.7
85.3
29.4
3
This
series contains
revisions
beginning
with
1976.
97.85
79.41
122.36
153.63
144.88
145,31
129.25
179.61
184,89
169.04
159.64
192.24
163.69
189.22
208.66
224.87
248.15
279.37
313.75
309.66
337.30
358.84
326.72
359.90
420.84
515.03
562.03
504.56
616.77
733^5
869.49
952.22
948.66
998.87
AVERAGE FOR PERIOD
52.4
85.7
33.3
57.1
60.0
71.4
45.7
38.6
14.3
38.6
67.1
54.3
40.0
40.0
57.1
58.6
71.4
51 .4
95 . 2
95.2
26.6
52 . 4
100.0
9.5
57.1
5.7
91.4
80.0
51.4
14.3
77.1
71.4
1977.
95 . 2
100.0
4.8
Annual
TOTAL FOR PERIOD
8,38
6.92
11.79
10.75
12.66
9.71
11,69
15.74
14.78
13.64
13.63
16.04
15.95
16.
30
17.82
18.93
21.15
23.74
27.25
25.63
28.64
30.67
27.83
30.66
36.91
42.95
48.93
43.94
57 .1
95.2
9.5
100.0
9.5
50.0
42.9
65.7
88.6
21.4
18.6
80.0
88.6
IV Q
8.92
6.85
14.21
11.41
11. 76
10.89
10.45
15.04
17.73
14.03
13.57
14.93
15.83
16.51
17.03
18.67
20.21
23.21
2 5.86
26. 27
27.44
29. 39
26.90
29.56
34.92
42.53
51. 17
43.32
VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS I N D U S T R I E S — 3 4 - 3 5 INDUSTRIES 2
(PERCENT RISING OVER 9-MONTH SPANS)
95.2
57.1
66. 7
47.6
44.3
85.7
68.6
45.7
51.4
94.3
8.85
5.75
9.39
12.88
13.00
13.20
10.29
14.84
15.06
14.23
13.30
16,86
15.52
15.80
16.76
18.20
20.63
22.76
26.76
26.74
27.41
29.14
28.02
29.29
34.29
42.72
48.66
40.52
51.44
61.56
71.77
79.89
71.29
86.91
VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS I N D U S T R I E S — 3 4 - 3 5 INDUSTRIES 1
(PERCENT RISING OVER 1-MONTH SPANS)
90.5
57.1
33. 3
66.7
34.3
94.3
64.3
37.1
31.4
91.4
'This series contains
8.06
6.02
9.23
13.25
10.86
13.58
9.75
14.51
15.16
14.58
12.20
16.02
15.22
15.46
16.89
18.99
20.59
22.44
26.00
25.96
27.31
29.80
27.80
28.75
34.42
42.99
49.02
40.64
51.08
59.54
71.61
80.54
69.47
87.40
52.4
57.1
31.0
57.1
28.6
65.7
67.1
28.6
60.0
964. DIFFUSION INDEX OF
1.948...
1949...
1950...
1951..,
1952..,
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966.
..
1967...
1968.
..
1969...
1970...
1971.. .
1972...
1973. ..
1974...
1975. ..
1976.. .
1977.
..
1978...
1979.
. .
1980...
1981...
1982...
7.82
6.67
7.86
14.64
12.81
13.34
9.72
14.96
15.04
15.14
12.50
16.65
15.21
14.49
17.05
19.01
19.75
22,76
26.83
24.38
28.90
30.08
27.43
29.79
33.21
42.85
45.18
38,24
49.72
58,68
68.48
83.74
78.97
83.86
lit Q
64.7
45.6
50.6
43.9
56.1
60.1
51,2
42,7
53,1
53,9
45.2
55.8
52.8
58.6
58.2
58,3
53.3
53.9
52.3
51.2
50.1
53.9
61.4
54.4
49.6
55.1
60.5
58.7
59.7
51.0
55.0
46.6
AVERAGE FOR PERIOD
95.2
53.9
io6!6
23.0
73.0
96.8
12.7
90.5
90. 5
25.4
55.6
44.8
89.5
55.7
36.2
48.1
88.1
25.7
74.3
87.6
37.6
16.7
77.1
76.2
7.6
82.9
77.6
57.2
20.9
79.1
46.6
20.5
91.4
69.5
49.0
27.6
88.6
33.4
95^6
28.8
51.6
27.3
73.3
81.1
49.9
25.4
73,2
61.1
37.6
59.5
61.9
74.3
66.2
83.4
91.4
43.4
68.1
67.6
31.4
71.0
91.4
86.2
77.2
33.3
90,9
88.3
86.3
78.0
28.4
77.4
41. 9
79.1
63.8
67.6
80.0
80.5
71.0
57.6
60.0
65.7
29.5
63.3
83.8
80.0
59.1
62.4
87.6
87.3
87.2
66.6
51.5
44. 1
36.7
73.3
63.8
61.4
77.1
86.7
40.0
74.8
73.3
47.1
80.0
73.8
72.8
77.1
94.3
36.2
71.0
86.2
30.5
58.1
84.8
89.5
75.7
20.9
85.7
80.4
92.2
87,2
53.4
83. 3
21.6
73^0
65.8
69.0
80.1
86.2
59.6
61.7
71.9
52.5
43^9
74.0
87.1
77.5
48.3
64.6
85.4
89,5
85.3
65.7
56,1
41.9
56.7
77,2
83.8
68.1
36.2
77.1
82.9
90.2
80.4
64.7
61.3
24.5
(AUGUST
1982)
97
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
14.11
12.98
18.19
18.33
18.87
15.25
16.91
22,54
21.35
17.96
20,03
18.91
19.06
22.04
22.96
24.35
26.58
30.87
31.38
31.56
33.52
32.86
27.76
31.92
37.53
42.76
34.39
31.77
36.47
40.19
45.42
40.27
38.84
34.44
13.69
12.74
19.28
17.75
20.33
15.28
19.10
23.49
21.26
16.54
18.97
20.46
19.29
22.79
24.15
24.02
28.11
31.64
31.22
34.14
33,49
32.55
30.86
32.41
38.79
39.88
31.01
31.48
37.88
41.84
44.24
40.08
39.47
33.43
44,29
37.05
41.68
70.39
55.29
65.86
46.05
63.92
64.12
61.72
50.01
63.92
59.87
55.95
67.78
72.76
77.39
85.57
97.97
90.41
99.10
101.66
91.07
94.69
99.45
121.84
121.47
88.80
100.92
113.63
121.78
136.16
121.77
114.87
47.14
32.09
47.96
63.11
58.07
62.61
46.14
65.10
63.85
57.42
49.21
63.97
58.68
60.12
65.10
72.52
79.00
86.40
98.00
94.37
96.79
102.30
89.70
90.86
102.72
122.22
120,22
89.67
106.60
117.51
128.33
129.12
105.59
117.90
11.91
11.66
14.68
14.66
15.78
13.56
16.92
19.85
18.02
15.81
18.11
17.44
17.44
20.32
20.55
22.06
23.74
26.70
26.83
27.54
30.46
29.30
25.52
29.55
34.55
36.83
30.06
30.01
33.47
36.71
39.16
35.56
34.48
30.03
11.40
11.45
15.55
14.19
17.05
13.68
18.14
19.46
18.19
14.91
18.05
18.79
17.37
20.97
20,12
22.07
24.84
27.38
26.55
29.46
29.73
29.02
27,99
29.82
35.06
34.71
26.86
30.18
34.41
37.30
39.67
35.02
33.96
30,01
37.42
32.11
37.04
57.02
45.17
54.28
42.50
58.12
55.42
54.44
45.28
59.90
54.90
51.36
61.15
64.05
67.94
76.15
83.23
78.79
85.67
90.28
83.24
86.09
92.72
110.67
104.44
79.47
94.98
106.10
110.25
117.95
106.87
101.35
39.30
29.58
41.74
48.99
48.60
54.55
44.24
59.10
53.86
52.67
45.62
58.03
53.05
56.26
58.10
64.52
69.30
75.65
82.61
79.42
85.40
89.15
83.15
83,94
94.20
108.43
104.48
82.59
98.26
107.90
115.94
114,87
91.70
104.70
IQ
7. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE UOODS INDUSTRIES, IN 1972 DOLLARS
(BILLIONS OF DOLLARS)
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972,,.
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
14.60
12,66
13.72
24.73
17,55
22.71
15.33
20.39
22.33
20.43
17.05
20,36
19.92
18.23
22.64
23.63
26.30
28.14
32.05
30,20
32.60
33.48
30.65
31.62
32.75
39.96
41.12
30.64
32.31
37.61
39.41
44.36
41.81
38.23
14.59
12.55
13.80
22.43
17.50
22.31
15.81
21.00
20.66
20.99
16.45
22.02
20.48
18.98
23.08
24.44
25.74
28.52
32.34
30,41
32.34
34.12
30.40
31.78
33.29
40.52
40.68
29.90
33.70
37.42
40.64
45.58
40.94
38.15
15.10
11.84
14.16
23.23
20.24
20.84
14.91
22.53
21.13
20.30
16,51
21.54
19.47
18.74
22.06
24.69
25.35
28.91
33.58
29.80
34.16
34.06
30.02
31.29
33.41
41.36
39.67
28.26
34.91
38.60
41,73
46.22
39.02
38.49
15.27
10.96
14.99
21.86
20.44
21.33
15.54
21.35
21.89
18.91
15.58
21.73
19.23
19.73
21.57
24.26
26.23
29.17
32.74
30.22
32.48
35.70
29.29
30.46
33.80
40.74
39.44
29.97
35.31
38.83
42.87
42.51
36.79
39.33
15.27
10.79
16.43
20.94
17.13
21.03
14.91
21.66
21.08
19.49
16.10
20.62
19.53
19.97
21.85
24,66
26.36
28.45
32.18
31.66
32.13
33.68
30.15
29.95
34.56
40.87
40.96
29.93
35.64
38.76
42.86
43.63
34.12
39.51
16.60
10.34
16.54
20.31
20.50
20.25
15.69
22.09
20.88
19.02
17.53
21.62
19.92
20.42
21.68
23.60
26.41
28.78
33.08
32.49
32.18
32.92
30.26
30.45
34.36
40.61
39.82
29.77
35.65
39.92
42.60
42.98
34.68
39.06
16.33
10.68
20.11
19.92
18.96
18.82
15.99
22.06
20.54
17.89
17.38
20.27
19.66
20.34
22.03
24.37
27.68
29.51
32.44
31.10
31.70
33.37
29.86
30.53
34.14
40.43
39.77
32.19
36.84
38.88
41.85
41.70
38.04
39.15
16.02
12.41
24,51
18.14
18.46
16.63
15.93
21.96
24.42
18.64
17,83
19.17
20.42
21.34
22.03
24.09
25.84
29.27
31.81
31.73
32.02
33.03
28.95
30.19
34.81
40.32
40.07
31.69
35.51
39.27
43.34
41.21
36.51
37.73
14.99
12.60
20.06
17.12
19.91
14.89
17.82
22.81
20.19
18.11
17.89
20,56
20.69
21.05
23.05
24.42
27.02
29.90
33.52
30.88
33.30
34.31
29.90
31.35
36.65
40.55
37.84
31.98
35.44
39.96
43.77
41.66
38.92
37.42
14.87
12,36
20.14
19.02
18.70
15.32
19.27
22.62
20.13
17.19
18.50
20.24
18.79
21.11
23.09
24.46
26.06
30.04
31.93
30.93
34.73
33.52
27.05
30.64
36.45
41.70
34.94
31.24
35,34
40.54
45.14
40.48
39.08
34.02
12.33
11.01
12.34
20.27
14.43
18.53
13.67
19.03
18.88
17.78
15.66
18.94
18.61
16.74
20.61
20.72
22.83
25.21
27.07
26.50
28.59
30.20
28.18
29.16
30.62
36.56
35.34
26.88
30.97
34.78
36.03
39.68
36.63
33.05
12.22
10.66
12.39
18.13
14.52
17.75
14.39
18,88
18.33
18.52
14.91
20.79
18.68
16.80
20.46
21.60
22.62
25.44
27.56
26.27
28.55
30.06
27.60
28.87
31.13
36.90
34.83
26.75
31.66
35.05
36.93
38.96
36.38
34.38
10.
1946...
1949...
1950...
1951,..
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968., .
1969...
1970...
1971...
1972. . .
1973...
1974...
1975...
1976. . .
1977...
1978...
1979...
1980,,.
1981...
1982...
1.50
1.31
1.60
3.43
2.51
2.84
2,20
2.50
3.35
3.65
2.77
3.09
3.27
3.48
3.62
3 .80
4.89
5.81
5.30
7.74
8.98
9.20
8.21
8.75
11.26
13.88
13.38
14.47
16.66
20.20
25.43
28.47
29.13
12.87
10.44
12.31
18.62
16.22
18.00
14.44
20.21
18.21
18.14
14.69
20.17
17.61
17.82
20.08
21.73
22.44
25.50
28.60
26.02
28.53
30.02
27.46
28.06
30.97
37.21
34.27
25.84
32.35
36.27
37.29
39.31
33.86
33.92
12.52
9.98
12.88
16.95
16.74
18.62
14.50
19.67
18.48
17.56
14.60
19.70
17.52
18.23
18.98
21.99
23.27
25.07
27.61
26.22
28.04
29.87
27.35
28.26
31.05
36.00
34.20
27.17
32.38
35.73
39.04
37.85
31.24
34.S9
12.90
10.03
14.37
16.28
14,74
18.13
14.50
19.52
17.90
17.48
15.06
19.09
17.62
18.75
19.76
21.54
22.97
25.19
27.41
26.45
28.64
29.55
27.60
27.96
31.26
36.34
35.30
27.48
32.84
35.78
38.64
38.89
30.28
35.09
13.88
9.57
14.49
15.76
17.12
17,80
15.24
19.91
17.48
17.63
15.96
19.24
17.91
19.28
19.36
20.99
23.06
25.39
27.59
26.75
28.72
29.73
28.20
27.72
31.89
36.09
34.98
27.94
33.04
36.39
36.26
38.13
30.18
35.02
13.65
10.24
18.05
15.67
16.09
17.62
14.57
20.28
17.59
16.93
16.42
18.91
18.06
18.62
20.01
21.80
23.94
26.01
27.08
26.76
28.22
30.36
27.30
28.52
31.62
35.89
33.94
29.60
33.29
35.89
37.84
37.03
31.97
34.65
13.46
11.86
20.21
14.31
15.71
15.39
15.00
19.67
17.84
17.13
16.79
17.84
18.03
19.40
20.22
21.13
23.20
25.48
27.18
27.96
27.53
29.66
27.02
28.21
32.76
35.75
33.30
29.58
32.71
36.40
38.76
36.82
32.38
33.12
12.71
11.96
15.96
13.73
16.58
13.77
15.78
19.35
17.38
17.19
17.26
18.60
18.30
19.22
20.42
21.28
24.40
25.21
27.09
26.81
29.38
30.18
27.40
28.32
33.32
35.69
32.11
29.94
32.37
36.52
38.21
36.77
33.75
32.81
12.30
11.17
16.11
15.21
15.72
13.32
15.97
19.13
17.95
16.46
17.21
17.97
17.66
19.29
20.58
22.09
23.03
25.66
27.36
26.40
29.97
30.28
25.51
28.70
33.70
36.24
31.15
30.16
31.75
36.17
38.90
36.13
34.78
30.72
4.93
6.28
5.69
7.81
9.33
8.86
8.94
9.23
11.95
14.27
12.45
14.15
16.61
22.43
27.22
25.74
25.57
1.66
1.41
1.74
3.19
2.59
2.64
1.91
3.15
3.28
3.52
2.66
3.73
3.27
3.25
3.65
3. 88
5.22
6.14
5.81
9.63
8.69
8.37
9.02
9.94
12.01
14.64
12.03
14.90
16.06
20.54
29.81
26.24
28.17
47.34
35.69
64.68
55.18
57.33
50.34
49.74
66.83
65.15
54.64
53,10
60.00
60.77
62.73
67.11
72.88
80.54
88.68
97.77
93.71
97.02
100,71
88,71
92.07
105.60
121.30
117.68
95.86
107.79
118.11
128.96
124.57
113.47
114.30
42,67
38.08
57,61
5S.10
57.90
45.85
55.28
68.65
62.74
51.69
57.50
59.61
57.14
65.94
70.20
72,83
80.75
92.55
94.53
96.63
101.74
98.93
85,67
94,97
112.77
124.34
100.34
94.49
109.69
122.57
134.80
120.83
117.39
101.89
39.82
34.06
54.22
43.71
48.38
46.78
45.35
59.30
52.81
51.25
50.47
55.35
54.39
57.24
60.65
64.21
71.54
76.70
81.35
81.53
85.13
90.20
81.72
85.05
97,70
107.33
99.35
89.12
98.37
108.81
114.81
110.62
98.10
100.58
35.61
34.28
46.34
44.06
48.55
40.56
51.03
58.44
54.16
47,18
53.37
54.20
52,47
60.58
61.25
66.22
71.61
79.74
80.74
83.40
90.16
88.60
79.02
88.07
103.31
107.78
88.07
90.35
99.63
110.18
117.73
106.71
103.22
90.76
Annual
181.44
142.91
211.93
243.78
228.59
224.66
197.21
264.50
255.86
225.47
209.82
247.50
236.46
244.74
270.19
290.99
317.68
353.20
388.27
375.12
394.65
403.60
355.15
372.59
420.54
489.70
459.71
368.82
425.00
471.82
513.87
510.68
458.22
448.96
152.15
130.03
179.34
193,78
190.70
196.17
183.12
234.96
216.25
205.54
194,74
227.48
214.31
225.44
241.15
259.00
280.39
308.24
327.93
323.14
346.36
358.23
327.13
343.15
387.93
434.21
396.34
341.53
391.24
432.99
458.73
450,15
399.89
397.39
TOTAL FOR PERIOD
1.84
1.21
1.74
3.21
2.56
2.88
1.96
2.93
3.40
3.15
2.69
3.35
3.52
3.27
3.85
3.98
1.59
1.25
2.16
4.36
2.39
2.76
2.00
2.80
3.56
3.29
2.72
3.46
3.51
3.22
3.68
4.36
1.84
1.37
2.09
2.98
2.69
2.16
2.05
2.99
3,60
3.13
2.85
3.54
3.41
3.41
3.61
3.99
1.68
1.26
2.53
2.84
2.76
2.66
2.15
2.97
3.43
3.06
2.75
3.61
3.41
3.49
3.65
3.96
1.60
1.36
3.20
2.73
2.48
2.23
2.15
3.15
3.41
3.13
3.13
3.22
3.41
3.67
3.66
4.07
1.S9
1.49
3.01
2.36
3.34
2.57
2.31
3.33
3.33
2.83
3.14
3.63
3.44
3.43
3.64
4.20
1.62
1.43
2.71
2.63
2.50
2.72
2.43
3.20
3.34
2.89
3.04
3.50
3.34
3.51
3.73
4.28
1.60
1.61
2.72
2.63
2.36
2.34
2.25
3.45
3.79
2.89
3.00
3,30
3.20
3.72
4.00
4.50
1.59
1.46
3.00
2.83
2.83
2.14
2.40
3.45
3.58
2.74
2.91
3.49
3.49
3.43
4.08
4.56
4.88
4.14
4.94
10.13
7.65
8.36
6.35
8.37
9.89
10.72
8.10
10.01
9.89
10.13
11.21
11.59
5.27
3.83
5.99
10.55
7.64
7.80
6.01
8.72
10.56
9.57
8.26
10.35
10.44
9.90
11.14
12.33
4.87
4.11
8,74
7.93
8,58
7.46
6.61
9.45
10,17
9.02
9,02
10.46
10.26
10.59
10.95
12.23
4.81
4.50
8.43
8.09
7.69
7.20
7.08
10.10
10.71
8.52
8.9S
10.29
10.03
10.66
11.81
13.34
5.25
6.41
5.70
7.97
9.93
8.00
8.89
9.81
12.16
13.93
13.77
14.81
17.46
20.56
27.48
26.23
30.61
5.18
6.34
5.88
7.32
9.35
8.10
8.65
10.79
12.85
15.34
14.34
13.66
19.14
22.89
24.74
23.46
28.07
5.10
6.21
6.11
7.24
8.85
7.80
9.73
9.39
12,73
14.17
14.15
15.97
18.83
21.22
26.29
25.34
28.70
5.27
6.64
6.05
8.30
8.83
8.15
3.00
10.47
13.04
16.64
13.24
17.16
16.84
22.97
26.62
27.09
28.21
5.08
6.22
6.26
8.39
8.75
7.72
8.88
9.69
13.11
15.12
14.63
15.32
18.92
24.17
25.36
26.52
27.95
5.49
6.79
6.09
7.77
9.93
7.94
9.39
11.07
13.02
15.61
12.53
16.55
20.29
24.91
26.36
26.75
27.92
5.51
6.20
6.19
9.29
8.84
7.04
8.49
10.65
14.41
14.94
12,52
16.98
18.34
26.26
26.29
26.74
26.24
5.45
6.14
6.22
7.98
8.61
8.11
9.25
10.98
14.55
13.52
12.76
16.23
18.86
25.33
28.14
27.61
27.71
5.82
6.14
6.40
8.75
8.95
8.90
9.54
11.21
13.90
14.71
12.04
16.49
20.96
22.78
27.63
28.70
26.81
15.04
18.23
16.60
25,18
27.00
26.43
26.17
27.92
35.22
42.79
37.86
43.52
49.33
63.17
82.46
80.45
82.87
15.53
18.96
17,69
22.53
28.13
23.90
27.27
29.99
37.74
43.44
42.26
44.44
55,43
64.67
78.51
75.03
87.38
15.84
19.65
18.40
24.46
27.51
23.81
26.27
31.23
39.17
47.37
40.40
49.03
56,05
72.05
78.34
80.36
84.08
16.78
18.48
18.81
26.02
26.60
24.05
27.28
32.84
42.86
43.17
37.32
49.70
58.16
76.37
82.06
83.05
80.76
NOTE: These series contain revisions beginning with 1977.
IV Q
TOTAL FOR PERIOD
CONTRACTS AND ORDERS FOR PLANT AND EQUIPMENT IN CURRENT DOLLARS
(BILLIONS OF DOLLARS)
1.72
1.42
1.60
3.51
2.55
2.88
2.24
2.72
3.26
3.55
2.67
3.19
3.35
3.40
3.94
3 .91
III Q
TOTAL FOR PERIOD
8 . VALUE OF MANUFACTURERS' NEW ORDERS FOR CONSUMER GOODS AND MATERIALS IN 1972 DOLLARS
(BILLIONS OF DOLLARS)
1948..,
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959.,.
I960...
1961...
1962...
1963...
1964,..
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
| II Q
19.83
16.58
28.10
36.70
31.56
30.82
26.05
36.64
41.33
37.83
34.33
41.11
40.62
41.28
45.11
49.49
56.74
63.19
7S.32
71.70
98.19
109.24
98.19
106.99
121.98
1S4.99
176.77
157.84
186.69
218.97
276.26
321.37
31B.89
335.09
(AUGUST 1982)
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
II Q
20. CONTRACTS AND ORDERS FOR PLANT AND EQUIPMENT IN 1972 DOLLARS
(BILLIONS OF DOLLAR 5)
1948...
1949...
1950..•
1951...
1952...
1953,•.
1954...
1955...
1956...
1957...
1958...
1959...
1960,..
1961...
1962...
1963...
1964...
1965...
1966...
3.17
2.54
3.16
5.85
4.22
4.78
3.60
4.07
5.11
5.14
3.81
4.19
4.37
3 A
2.76
3. 14
3.47
2.73
3.42
3.84
2.35
3.41
3.30
2.43
4.20
1.28
4.34
4.30
4.01
J.66
1.41
1.95
1.96
.67
.31
1.47
3 .12
5.09
4.94
4.92
3.65
5.08
4.35
3.19
4.76
5.08
4.37
3.68
4.55
4.72
3.27
4.52
5.26
4.57
3.72
4.66
4.72
4.85
5.06
6.22
6.40
7.49
.30
.21
.61
>.46
8,04
4.94
5.16
5.83
6.81
7.83
5.15
5.30
5.89
6.86
8.14
1968...
1969...
1970..•
1971...
1972...
9.17
10.46
10.14
8.58
8.86
9.24
10.69
9.71
9.28
9.34
11.34
9.93
9.15
9.27
10.04
9. 29
11.25
8.70
9.20
9.89
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
12.84
10.13
10.48
11.45
12.98
15.36
16.20
15.10
13.07
9.39
10.30
11.34
14.31
16.15
13.68
12.69
13.12
9.03
10.58
10,96
13.18
18.70
14.00
14.17
12.45
10.23
10.77
11.85
13.12
16.01
13.89
15.19
4.94
5.86
6.34
6.78
7.98
7.18
8.63
10.68
8.72
8.90
10.86
12.38
13.27
10,64
9.77
12,92
14.57
14.32
12,64
14.09
24.
1948...
1949...
1950...
1951.,.
1952.
. .
1953...
1954.
..
1955...
1956...
1957...
1958...
1959...
1960...
1961.
..
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974,,.
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
27.
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965,..
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973..,
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
NOTE:
1.43
1.22
1.42
3.09
2.25
2.43
1.86
2.29
. 1.45
1. 21
1.43
2.92
2.30
2.29
1.56
2.62
2.96
2.16
2.70
2.83
2.76
3.27
3.29
3.52
4.06
5.25
6.74
6.85
7,18
6.81
7.28
9.49
12.26
11.94
11.25
14.19
16.55
21.28
25.43
25.06
6.71
7.99
7.09
7.36
8.05
10.04
12.51
10.83
11.62
13.80
17.74
23.82
23.18
21.86
2.83
2.21
3.06
2.78
2.76
2.92
3.34
3.77
4.40
5.17
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
3.72
4.34
5.33
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
4.12
4.23
5.37
3.42
2.46
4.85
4.79
4.65
3.19
2.67
5.98
4,61
4.18
3.13
2.93
5.55
3.97
5.71
3.17
2.83
4.92
4.41
4. 23
3.11
3. 19
4.90
4.42
3.99
3.09
2.89
5.21
4.77
4.80
10. 28
8.03
9.72
17.22
12.84
10.94
7.46
11.66
17 .96
12.84
3.36
4.78
5.32
4.34
3.92
4.75
4.56
4.59
4.84
5.32
6.52
6.60
7.78
7.46
8.52
10.02
8.39
9.99
9.41
12.27
12.08
10.46
11.26
12.61
13.32
15.21
13.96
14.16
3.51
4.73
5.06
4.22
3.76
4.84
4.60
4.67
4.90
5.25
6.12
6.83
8.31
7.34
9.73
9.95
8.68
8.22
10.47
12.55
13.82
9.77
12.13
11.27
14.30
14.90
15.20
13.48
3.52
4.98
4.98
4.30
4.33
4.29
4.59
4.92
4.92
5.40
6.18
6.56
7.77
7.59
9.89
9.82
8.22
9.05
9.67
12.59
12.36
10.78
10.84
12.69
15.03
14.19
14.04
14.16
3.78
5.22
4.78
3.85
4.31
4.87
4.66
4.59
4.87
5.56
6.26
7.12
8.51
7.40
9.07
11.04
8.42
9.59
10.98
12.48
12.49
9.25
11.56
13.36
15.40
14.74
14.41
14.29
4.00
4.96
4.76
3.95
4.18
4, 70
4.52
4.70
4.97
5 .68
6.31
7.12
7.66
7.50
10,81
9,85
7.40
8.66
10.57
13.68
11 .73
9.16
11.84
12.15
3.69
5. 34
5.35
3.94
4.07
4.42
4.33
5.02
5.34
6.05
6.76
6.99
7.58
7.49
9.22
9.74
8.50
9.43
10.84
13.76
10.55
9.27
11.25
12.26
3,92
5. 29
5.04
3.75
3.94
4.66
4. 71
4.60
5,52
6.10
6.85
7.46
7.54
7.65
10,12
9.88
9. 29
9.70
11.00
13.05
11 .23
8.78
11.43
13.54
10.38
13.57
15.00
15.02
11.13
13.58
13.19
13.66
15,09
15.43
17.66
19.67
23.36
20.65
29.75
31.08
29.00
27.13
28.24
39.03
28.55
31.36
33.75
9,82
14.06
15.66
13,28
11.32
13.96
14.00
13. 33
14.93
16.48
18,75
20.24
2 3.90
21.61
26.44
31.95
25.81
28.09
30,16
36.37
37.80
31.33
31.80
37.38
9.74
8.06
16.38
13.37
14.54
12 . 23
10.81
14.93
14.82
12.37
12.40
14.00
13.85
14.18
14.69
16.21
18.56
20.51
24.59
22.33
28.69
30.81
25.32
26.86
31.12
37.62
38.67
29.80
34.53
37.32
14,85
13.94
16.07
14.32
15,59
15.66
50.21
43.88
45.54
40.49
43.83
43.65
8.43
7.44
6.77
7.38
8.37
10.40
12.97
10.30
11.69
14.02
17.46
25.79
23.36
24.46
7.27
8.88
6.28
7.22
8.19
10.80
12.61
11.16
12.37
14.57
18.51
22.16
23.74
25.69
6.06
7.64
6.80
7.21
9.12
10.96
12.58
10.83
12.46
14.83
19.02
22.54
21.15
24.49
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
4.23
4.38
5.31
5.03
5.93
7.51
6.35
8.17
7.94
10.53
12.42
10.58
12.49
15.86
18.72
23.28
22.21
24.04
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
3.90
4.46
5.57
5.13
6.99
7.42
6.68
6.68
8.89
11.00
14.34
11.36
14.08
14.76
19.09
22.56
24.28
24.66
4.14
4.63
4.85
5.93
6.15
7.04
6.21
7.82
7 .71
7.75
7.04
7.38
9.38
11.44
9,12
8.24
9.78
10.69
13.09
14.74
13.32
3 .57
2.77
3.27
6.13
3.53
4.31
4.48
4.77
3.37
4.17
4.26
4.16
4.95
4.99
5.28
6.04
7.68
6.56
7.76
8.98
7.62
7.S6
8.13
.9.88
11.60
8.26
8.54
9.45
11.37
14.31
12.48
11.06
1.38
1.26
2.64
2.11
2.20
1.88
1.94
2.57
1.39
1.19
2.40
2.40
2.19
1,80
1.93
2.64
1.40
1.25
2.37
2.38
1.97
1.78
1.83
2.77
1.43
1,20
2.68
2.37
2.19
1.76
1.95
2.87
4.16
3.56
4.17
9.07
6.73
7.29
5.20
7.00
2,56
2,46
2.79
2.78
3.08
2.99
3.47
3.94
4.34
5.20
5.24
6.65
7,49
6.36
7.12
8.30
10. 74
13.39
11.07
12.86
15.17
20.26
22.79
22.19
24,87
2.42
2.56
3.04
2.75
2.91
3.06
3.53
3.92
4.50
5.46
4.99
6.37
8.56
6.62
8.02
9.33
11.15
13.42
10.85
13.36
16.20
21.17
23.37
23.59
24.31
2,36
2.48
2,93
2.69
2.94
3. 11
3.54
4.01
4.63
5.36
2.33
2.58
2.74
2.60
3.04
3.34
3.45
4.06
4.72
5.15
5,12
6^73
7.66
6.79
7. 77
9.35
12.31
11.88
11 .45
13.31
16.45
22.26
2 3.98
23.70
24.37
2.16
2.47
2 .96
2.86
2.88
3.15
3.61
4.15
5.05
5.19
5 • 40
7'.27
7.20
7.48
8.15
9.56
12.11
11.61
10.72
14,10
17.17
20.02
24.04
25.22
22.13
8.75
6.65
8.38
8.34
8.26
9.25
9.84
11.23
12.59
15.21
21.88
22.28
21.04
21.55
23.70
29.93
37.74
33.07
34.56
42.01
51.75
70.89
71.97
71.38
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
12.07
12.95
16.01
14.69
19.26
24.03
19.43
22.60
25.25
32.29
37.61
32.57
37.32
45.26
56.25
67.98
67.10
74.22
7^68
7.29
6. 20
7.26
9.01
12.04
12.00
11.07
13.94
16.50
22.69
23.02
23.31
22.53
9.37
8.91
15,03
13.60
13,02
11 . 82
11.61
15.59
15.15
11.64
12.19
13.78
13.56
14. 32
15,83
17.83
19.92
21.57
22.78
2 2.64
30.15
29.47
25.19
27.79
32.41
40.49
33.51
27.21
34.52
37.95
46.34
46.51
43.92
40.33
32.46
52.79
62 .15
53.24
51.05
42.62
58.15
60.63
52,31
47.04
55.32
54.60
55 .49
60.54
65.95
74.89
81.99
94.63
87.23
115.03
123.31
105.32
109.87
121.93
148.99
149.01
116.89
132.21
146.40
172.55
186.09
171.94
168.81
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
11.76
13.30
16.23
15.36
20.01
23.47
19.66
21.82
26.52
32.89
41.15
33.28
40.30
46.13
60.52
68.72
70.06
73.84
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
12.22
14.40
15.70
15,56
21.68
22.15
20.47
23.18
27.92
36.46
35.49
33.24
41.35
50.12
64.97
71.04
72.23
69.03
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
47.28
53.24
63.15
59.46
82.83
91.93
80.60
89.15
103.39
131.57
151.99
132.16
153.53
183,52
233,49
278.63
281.36
288.47
TOTAL FOR PERIOD
3 .58
2.74
3.27
5.78
3.98
2.30
3.40
5.68
3 .22
2,45
4.29
5.40
3.82
2.58
4.11
5.04
3.32
2.41
4,97
4.84
3.19
2.58
6.15
4.64
3.19
2.89
5.69
4.15
3.18
2.74
5.07
4.72
3.20
2 .8a
4.96
4.68
3.24
2.77
5.41
4.66
10.34
8.07
9.58
17.99
11.02
7.33
11.80
16.12
2.95
4.90
4.70
4.54
3.45
4 . 71
4.20
4 • 16
4.41
5.07
5.66
6.55
7.54
6.61
9.74
8.34
7.27
7.52
8.45
10.17
11 .76
7.82
8,35
9.59
11.26
16.55
12.65
12.56
3.11
4.30
4.88
4.18
3,49
4. 28
4.36
4.13
4.82
5.08
5.56
3.05
4.32
5.12
4.20
3.51
3.12
4.59
5.15
4.04
3.54
3.32
4.49
4.73
4.01
3.56
4.74
4.80
4.05
3.82
4.63
4.73
3.80
3.99
4.74
4.76
3.69
3.86
4.94
5.25
3.64
4.00
3.69
5.09
5.00
3.38
3.82
4.36
4.34
4.20
4.20
4.16
4.55
5.28
4.49
5.02
4.53
5.06
4.52
5.23
4.63
5.31
5.86
7.74
6.68
8.36
9.93
6.71
7.40
8.25
10.44
11. 39
8.40
9.08
9.93
11.87
13.18
12. 74
13,05
7.76
6.81
6.94
8.54
7.23
7.38
9.17
10.61
11.10
8.18
8.94
10.08
12.22
13.17
11.57
12.53
7.64
7.01
6.78
8.36
6.74
8.35
7.94
10.21
10.73
7.95
8.87
10.66
11.83
13.64
12.54
12,14
7.99
7.14
7.97
8.21
7.02
6.83
8.89
10.64
12.10
8.46
10.01
9.91
12.02
12.81
13.93
11.94
7.44
7.28
7.57
8.28
6.70
7.22
8.28
10.41
11.09
8.29
9.14
10.25
12.78
12.89
12.09
12.83
7.79
6.93
7.22
9.38
6.95
8.16
9.26
10.77
10.91
8.08
9.36
10.73
13.26
13.24
12.98
12.75
4.07
4.45
4.69
5.33
6.00
6.84
7.60
6.98
8.68
7.99
6.46
7.38
8.95
11.55
9.63
8, 15
9.76
10.97
14.15
13.24
12.40
11.68
3.94
4.60
5.05
5.19
6.06
6.96
7.27
7.06
7.59
8.36
7.05
7.90
9.26
11.76
9.38
8,35
9, 25
10.73
13.59
14.04
12. 58
12.80
4.34
4.37
4.76
5.41
6.20
7.44
7.30
7.41
8.20
7.80
7.73
8.28
9.39
11 .46
9.03
7.86
9.81
11.15
12.22
13.84
14.12
11.98
9.86
13.15
14.00
14.11
10.38
12.93
12.58
12.46
13.99
14.91
16.87
18.74
22.26
19.38
25.32
25.03
22.64
22. 12
23.96
29.43
34.80
25.20
25.13
28.82
33.32
43.95
39.87
36.94
9.28
13.21
15.15
12.42
10.54
13.31
13.06
12.41
13.86
15.38
18.07
19.22
23.14
20.50
22,08
26.83
20.68
23.13
25.36
31.26
33.22
24.53
26.89
30.67
35.92
39.99
36.85
37.72
These series contain revisions beginning with 1977.
Annual
TOTAL FOR PERIOD
1.36
1.13
2.81
2.35
2.07
1,84
1.74
2,59
VALUE OF MANUFACTURERS' NEW ORDERS , CAPITAL GOODS INDUSTRIES, NONDEFENSE, IN 1972 DOLLARS
(E ILLIONS OF DOLLARS
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
IV Q
TOTAL FOR PERIOD
3.80
2.68
4.05
5.02
4.53
VALUE OF MANUFACTURERS 1 NEW ORDERS , CAPITAL GOODS INDUSTRIES, NONDEFENSE, IN CURRENT DOLLARS
(BILLIONS OF DOLLAR;;)
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
3.94
4.13
4.79
ill Q
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
17.58
19.66
23.22
21.35
22.76
25.87
20.67
22.21
26.43
31.82
34.10
24.83
28.51
30.89
38.06
38.94
39.00
37.52
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
18.26
21.24
22.17
21.45
24.47
24.15
21.24
23.56
27.60
34.77
28.04
24,36
28.82
32.8S
39.96
41.12
39.10
36.46
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
70.78
78.86
90.79
82.68
94.63
101.88
85,23
91.02
103.35
127.28
130.16
98.92
109.35
123.23
147.26
164.00
154.82
148.64
(AUGUST 1982)
99
C. Historical Data for Selected Series—Continued
Year
Jan.
36.
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1960...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979,..
1980...
1981...
1982.,.
Feb.
53.60
7.80
50.21
-20.14
2,65
11.89
-2.63
-23.77
11.87
-5.81
-9.74
17.14
9,14
10.32
22.43
16.72
27.53
7.38
7.25
-8.96
18.12
10.08
34.72
17.66
-42.55
7.79
12.07
18,07
28,90
-11.29
-15.50
36.
Apr.
May
-4.15
2.45
34.45
-2.11
4,91
-12.22
5.14
11.75
-2.96
-19.46
29.99
2,02
-3.70
12.01
12.43
7.66
15.47
26.95
7.24
6.98
15.07
-0.43
12.64
8.92
30.11
13.98
-48.17
10.92
13.99
18.29
16.63
-11.18
16.34
4.20
-4.38
7.80
36.43
14.90
-0.35
-19.33
16.00
-0.10
-5.78
-13.50
17.80
-10.67
-4.15
6.04
16.25
10.66
16.62
29.50
2.93
3.68
11.54
-1.82
9.14
1.81
32.23
14.63
-36.20
15.17
7.92
34.19
6.83
-2.68
-5.47
0.70
-8.40
5.58
33.5S
11.32
10.75
-15.66
-2.88
16.40
1.40
-12.16
17.51
-17.51
6.25
-12.50
10.42
11.76
2.76
19.69
9.05
8.40
13.13
7.48
-2.98
4,55
21,10
-4.56
-28.34
10.87
15.13
32.14
21.18
0.96
0.32
0.10
-3.71
19.52
32.26
2.04
4.81
-12.90
8.94
7.32
-3.01
-5.15
0.
-1.68
10.86
6.95
6.13
9.44
12.88
25.44
-0.07
10.58
12.58
-7.04
-4.90
12.66
28.49
16.99
-28.07
10.46
13.39
23.29
6.86
-15.94
17.44
1.60
-4.36
-7.03
21.65
11.10
13.66
-19.76
0.96
9.74
0.76
-13.58
9.56
6.08
-9.73
13.26
4.10
6.83
17.72
14.87
16.58
15.27
13.76
0.55
6.91
5.84
20.80
28.29
-22.50
5.46
8.68
16.32
25,44
-12.36
-6.28
July
Aug.
Sept.
Nov.
Dec.
-4.84
-7.82
19.75
11.46
3.38
-21.53
0.18
5.36
4.10
-10.60
7.51
2.99
-1.76
16.12
-3.13
7.49
19.34
12.52
13.56
16.08
14.34
-2.47
7.56
2.78
18.54
30.36
-20.36
-9.97
4.68
17.87
22.04
-16.58
-7.32
-2.51
-10.37
-12.86
10.10
12.24
7.49
-16.04
0.24
10.91
0.01
-6.24
12.78
11.81
-18.00
13.19
6.48
1.98
19.37
19.27
11.54
23.66
15.49
3.98
7.43
6.53
17.75
32.82
-22.06
-11.56
17.12
20.53
29.82
-14.02
-5.89
-20.09
Oct.
Q
11.62
-10.34
13.80
22.37
26.11
1,91
-15.31
15.84
5,24
-5.02
1.24
3,89
-4.07
4.21
3.96
1.74
15.11
13.10
27.35
1.58
3.77
14.63
6.26
-10.54
10.24
28.80
18.92
-19.76
22.67
8.93
14. 36
13.74
-26.63
17.27
10.00
0.49
10.48
19.36
6.52
-11.06
-15.22
9.92
17.05
-9.64
5.00
14.93
1.75
8.84
6.92
2.52
11.35
15.52
20.88
16.67
-9.37
15.19
1.78
-8.50
4.51
23.60
-5.70
-1.26
-1.64
9.38
9.96
11.27
-10.99
5.15
-9.19
1.78
44.28
12.46
-3.31
-18.29
-13.69
7.93
10.50
-3.47
0.28
6.64
-5.50
8.40
3.55
5.57
10.43
8.28
17.12
18.32
9.44
7.90
5.24
1.18
26.20
18.76
-15.84
5.45
-2.28
21.95
20.59
-3.11
-9.46
4.84
-4.69
9.41
18.91
3.66
13.13
-20.47
2,10
1.08
4.87
-1.70
13.44
9.98
2.47
8.66
9.96
6.88
29.60
4.56
14.33
6.04
14.69
15.84
-2.95
8.05
24.17
27.20
-4.18
-10.00
25.63
23.27
18.71
-22.76
-0.65
14.14
-4.93
-6.37
16.63
11.41
10.04
-23.26
2.30
14.03
-1.03
-24.02
4.90
12.67
-9.11
3.78
8.76
11.72
6.46
8.89
21.73
3.16
15.67
9.24
-6.65
6.37
17.48
25.74
-7.62
2.51
- 3 . SB
3.08
19.99
-1.70
4.27
-1.16
-1.90
-3.34
30.27
8.24
20.62
-17.68
1.85
10.45
-0.68
-15.01
14,47
2.84
-10.16
14.80
6.76
6.62
19.74
18.58
16.49
14.32
12.48
-2.14
11.88
7.49
25.60
24.22
-32.96
1.10
12.84
18.89
26.02
-13,06
-5.63
-0.78
1.82
37.10
6.42
19.56
-16.68
5.30
9.68
-2.82
-17.70
19.05
-1.07
-8.17
12.92
10.98
8.10
18.63
22.69
14.00
9.34
11.94
-2.77
13.02
7.72
29,94
18.46
-39.95
6.84
12.86
21.24
21.28
-10.27
-1.61
108.
III Q
AVERAGE FOR
0.22
5.26
41.49
6.86
18.26
-17.23
7.93
7.85
-3.79
-18.91
19.89
-4.82
-5.86
11.73
12.61
9.55
18.17
24.39
12.57
6.01
11.29
-3.74
13.30
6.94
32.35
15.42
-42.31
11.29
11.33
23.52
17.45
-8.38
-1.54
4.17
-7.48
12.97
29,40
13.16
5.82
-14,62
7.30
9.65
-2.21
-5.36
7.13
-7.75
7.11
-0.53
6.10
12.10
9.58
24.16
3.52
7.58
13.45
2.23
-6.14
9.15
26.13
10.45
-25.39
14.67
12.48
23.26
13.93
-13,87
11.68
-1.29
3.89
24.56
11.83
5.45
-16.61
-8.94
6.31
10.81
-4.94
6.24
10.52
-0.43
8.63
6.81
4.99
17.13
9.45
17.44
13.68
4.92
12.98
1.36
0.24
18.29
23.19
-8.57
-1.94
7.24
18.20
16.42
-4.87
-7.03
0.04
IV Q
Annual
PERIOD
- 6 . 71
-9.02
15.49
11.70
6.97
-20.28
0.91
10.10
1.03
-13.62
8.40
9.16
-9.62
11.03
4.04
7.06
15.06
13.56
15.61
14.57
15.17
3.58
2.78
5.23
17.92
29.64
-16.68
-6.34
6.07
13.83
23.95
-10.77
-2.98
-7.92
-3.10
14.57
23.61
8,11
-3.20
-9.97
7.91
7.33
-6.14
-2.41
11.67
-5,66
5.23
5.51
7.69
13.46
12.69
20.40
11.08
8.42
10.32
0.66
3.16
13.08
27.83
0.16
-18.99
9.82
13.96
21.79
3.94
-8.07
2.56
-2.71
5.27
38.16
7.45
11.68
-16,48
7.01
8.60
-3.12
-16.98
20.83
-6.77
-3.20
6.79
12.82
9.79
14.90
24.89
9.49
6.18
12.27
-1.00
9.78
6.02
30.08
11.72
-39.94
11.81
11.84
25.86
16.17
-6.34
1.09
-5.57
8.12
34.46
8.73
5.09
-15.85
6.72
8.61
-2.46
-12.65
16.77
-9.34
1,89
1.01
11.98
10.32
11.18
25.13
5.19
6.95
12,83
0.64
3.34
5,72
27.54
8.52
-34.22
12.24
12.2S
29.04
13.25
-5.09
3.91
AVERAGE FOR PERIOD
BILLIONS OF DOLLARS)
2 .93
5 . 70
-6.49
11.97
31.75
11.29
5.45
-15.29
7.33
8.76
-2.34
-7.81
9.45
-8.85
5.71
-0.18
8.52
11.36
10.17
24.52
3.74
7.57
12.93
0.89
-2.86
7.75
26.70
9.74
-28.13
13.42
12.32
26.57
12.78
-9.88
7.89
-6.00
13.78
27.03
12.36
2.19
-14.55
9.43
9.76
-4.05
-2.50
6.70
-4.54
7.54
2.71
4.78
12.04
11.71
24.36
4.79
4.62
13.79
1.28
-7.06
9.14
26.55
10.26
-20.88
12.58
11.52
19.57
12.28
-15.86
12.48
1.43
5 .69
-3.60
0.60
23.70
18.73
14.94
21.36
7.61
10.66
-5.30 -12.88
-14.61 -11.84
8.77
11.40
10.87
10.40
-5.49
-5.97
4.21
1.27
9.50
7.38
-1.52
-1.97
7.89
7.56
5.81
5.38
4.13
3.37
14.71
12.13
10.88
13.07
19.61
23.17
12.93
9.13
3.10
1.47
12.78
13.35
2.89
2.38
-2.86
-6.97
15.97
11.39
23.45
, 25.34
-4.72
4.60
-3.56
-10.78
6.74
8.37
15.81
11.99
15.70
15.42
1.22
8.96
-16.77 -11.36
8.56
11.19
-3.78
2.75
25.58
10.50
6.03
-18,64
-6.02
7.00
7.79
-7.33
6.22
10.14
-2.24
7.79
7.12
6.52
16.31
8.35
17.58
11.42
9.09
11.98
-0.05
2.72
20.46
23.54
-8.89
-1.31
6.91
17.15
18.09
-7.03
-4.49
6.99
-5.54
0.01
22.52
9.01
7.74
-21.21
-0.79
7.25
3.71
-10.92
7.41
9.16
-3.42
8.23
6,31
8.38
16.90
7.95
17.13
0.93
14.08
9,26
-1.07
5.47
21.34
25.83
-9.97
-3.25
7.75
15.42
20.01
-11.44
-1.59
4.72
-5.77
-5.30
16.96
10.27
7.91
-21.02
1.22
8.46
1.84
-12.86
8.51
6.85
-6.21
10.28
4.62
7.88
16.76
11.11
16.08
11.63
15.03
5.56
1.05
5.48
18.99
28.70
-13.70
-6.08
7.49
14.28
22.10
-12.22
-2.11
-2.22
-2!35
-2.05
29.67
8.59
17.95
-18.04
2.70
9.96
-0.91
-15.43
14.36
2.62
-9.35
13.66
7.28
7.18
18.70
18. 71
15.69
12.98
12.73
-1.45
10.60
7.02
25.45
23.66
-31.80
4.47
11.46
18.82
24.25
-11.90
-4.51
-4.92
8.45
34.79
9.16
7.41
-15.87
7.02
8.66
-2.64
-12,48
15.68
-8.32
1.47
2.54
11.11
10.49
12.00
24,85
6.14
6.90
12.68
0.18
3.42
6.50
28.11
9.99
-34.10
12.49
12.14
27.16
14.07
-7.10
4.30
1.048
1.014
1.101
1.190
1.205
1.223
1.051
1.019
1.138
1.193
1.215
1.216
1,027
1.019
1.096
1.185
1.198
1.223
1.190
1.295
1.332
1*307
1,311
1.322
1.206
1.267
1.228
1.219
1.221
1.246
1.248
1.262
1.298
1.343
1. 283
1.249
1.271
1.313
1,399
1.263
L.238
1.279
1.327
1.357
1.383
0.981
1.023
1.074
1.002
1.028
1.096
1.009
1.022
1,067
1.017
1.018
L.065
1.038
1.008
1.067
1.040
1.002
1,085
l!l77
1.218
1.203
l!l88
1,224
1.204
l!l88
1.229
1.196
1! 182
1.227
1.191
!l91
L.229
L.185
1.193
1.233
1.182
1.317
1.334
1.304
1.333
1.295
1.278
1.254
1.223
1.219
1.225
1.271
1,241
1.267
1.325
1.325
1.263
1.242
1.290
1.321
1.290
1.233
1.246
1.315
1.358
1.386
1.327
1.316
1.306
1.332
1.291
1.277
1.238
1.221
1.212
1.230
1.264
1.247
1.271
1.337
1.311
1.264
1.252
1.288
1.315
1.283
1.234
1.251
1.320
1.352
1.389
1.327
1.313
1.309
1.329
1.288
1.277
1.233
1.220
1.211
1.231
1.260
1.255
1.277
1.341
1. 301
1.257
1.260
1.286
1.304
1.276
1.234
1.257
1.322
1.354
1.383
1.327
1.299
1.317
1.338
1.284
1.276
1.230
1.224
1.213
1.231
1.257
1.258
1.284
1.371
1. 290
1.257
1.264
1.296
1.300
1.272
1.231
1,267
1.316
1.357
1.372
!2Q7
.329
.295
.316
.339
.284
.271
.228
.224
.220
.234
.249
.263
.291
.357
. 281
.256
.262
.309
.296
.264
.228
.267
1.317
1.353
1.373
1.338
1.290
1.317
1.334
1.289
1.269
1.229
1.222
1.221
1.241
1.246
1.265
1.295
1,351
1.298
1.234
1.260
1.315
1.306
1. 263
1,230
1.275
1.314
1.346
1.378
1.053
1.028
1.113
1.058
1.010
1.125
1.053
1.022
1.133
1.042
1.026
1.156
0.989
1.026
1.070
1.185
1.227
1.179
1.051
1.012
1.104
1,195
1.213
1.222
1.179
l!218
1.220
1.184
1.219
1.225
1.186
1.211
1.215
1.192
1.216
1.209
1.184
L.224
1.021
1.016
1.066
1.191
1.189
1.230
1.340
1.309
1.314
1.327
1.289
1.268
1.223
1.220
1.220
1.250
1.245
1.270
1.305
1.354
1 . 275
1.243
1.268
1.327
1.289
1.266
1.238
1,288
1.328
1.353
1.389
1.305
1.342
1.300
1.298
1.316
1.282
1.264
1.221
1.219
1.217
1.255
1.242
1.271
1.313
1.351
1.273
1.241
1.274
1.327
1,293
1.259
1.237
1.290
1.329
1.349
1.388
1.309
1.337
1.303
1.300
1.312
1.278
1.263
1.221
1.216
1.239
1.259
1.237
1.270
1.316
1.347
1. 266
1.234
1.285
1.329
1.292
1.253
1.239
1.291
1.330
1.356
1.394
1.321
1.336
1. 301
1.303
1.312
1.283
1.258
1.222
1.211
1,225
1.264
1.232
1.270
1.320
1.335
1.317
1.335
1.310
1.315
1.305
1.286
1.255
1.214
1.211
1.227
1.269
1.236
1. 268
1.320
1.327
1.272
L.324
L.321
L.306
L.331
L.291
L.277
L .242
L.221
L.214
L.229
L.265
L.248
L.272
L.334
1.288
1,331
1.295
1.317
1.337
1.286
1.272
1.229
1.223
1.218
1.235
1.251
1.262
1.290
1.360
1.300
1.340
1.304
1.304
1.310
1.283
1.265
1.222
1.218
1.225
1.255
1.241
1.270
1.311
1.351
1.320
1,334
1.308
1.316
1.303
1.285
1.255
1.219
1.213
1.227
1,266
1.236
1.268
1.321
1.328
1.245
1.293
1.335
1.297
1.246
1.246
1.300
1.339
1.364
1.390
1.249
1.296
1.325
1.291
1.247
1.248
1.304
1.346
1.365
1.381
1 .261
1.251
1.288
L.313
L.283
L.234
L.251
L.319
L.35S
1.386
1. 249
1.262
1.307
1.301
1.266
1.230
1.270
1.316
1.352
1.374
1.239
1.276
1.328
1.291
1.259
1.238
1.290
1.329
1.353
1.390
l'.246
1.294
1.329
1.292
1.244
1.249
1.306
1.345
1.369
1.380
NOTE: These series contain revisions beginning with 1977.
'This series 1s a weighted 4-term moving average (with weights 1,2,2,1) plaiced on the terminal month of the span.
-5.03
-0.85
21.69
9.93
7.23
-20.29
-1.86
7.57
4.45
-10.37
7.38
9.38
-3.96
8.77
6.02
7.59
16.68
9.14
16.93
10.66
12.73
8,93
-0.02
4.56
20.26
26.02
-10.85
-3.55
7.38
15.62
20.07
-10.23 '
-2.73
3.16
-2.78
11.51
23.88
8.80
-0.07
=12.36
6.79
8.35
-4.77
-4.88
11.82
-3.08
2.14
6.71
7.52
11.83
12.95
20.72
10.36
0.92
11.91
0.22
3.24
11.49
26.17
6.54
-20.30
8.39
13.08
20.73
a.39
-9.10
3.42
AVERAGE FOR PERIOD
0.983
1.027
1.065
100
4.27
-3.00
18,74
21.11
10.21
-5.33
-13.67
9.87
10.34
-5.17
0.99
7.86
-2.68
7.66
4.63
4.09
12.96
11,89
22,38
8.95
3.06
13.31
2.18
-5.63
12.17
25.11
3.38
-11.74
9.23
13.11
16.90
7.49
-14.66
10.74
RATIO, PERSONAL INCOME TO MONEY SUPPLY M2
(RATIO)
1948...
1949...
1950...
1951
1952!.'!
1953...
1954...
1955.
1956!!!
1957...
1958...
1959...
1960.. .
1961..,
1962,,.
1963.,.
1964...
1965...
1966.. .
1967...
1968...
1969...
1970...
1971...
1972...
1973. . .
1974. . .
1975...
1976...
1977...
1978...
1979. . .
1980...
1981...
1982...
II Q
NET CHANGE IN INVENTORIES ON HAND \ND ON ORDER IN 1972 DOLLARS, SMOOTHED DATA1
(ANNUAL RATE,
1948...
1949...
1950,..
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
June
TOT CHANGE IN INVENTORIES ON HAND AND ON ORDER IM 1972 DOLLARS, MONTHLY DATA
(ANNUAL RATE, BILLIONS OF DOLLARS)
-0.44
9.'is
5.54
Mar.
1.265
l!322
1.332
1.313
1.331
1. 291
1.286
1.251
1.221
1.217
1.228
1.264
1.240
1.265
1.322
1.322
1,261
1.245
1.293
1.328
1.287
1.240
1.252
1.313
1.351
1. 378
1.370
(AUGUST 1982)
C. Historical Data for Selected Series—Continued
Year
IQ
ll Q
IV Q
III Q
34 . NET CASH FLOW, CORPORATE, IN CURRENT DOLLARS 1
(ANNUAL RATE, BILLIONS OF DOLLARS)
22. 2
21.1
19.3
26.7
23.8
26.3
24.6
32,9
35.4
36.8
31.1
40.1
41.6
37 .8
46 3
47.9
55.5
62.1
69.1
68.9
73.4
78 4
74.5
81,6
97 2
118.9
131.8
125.5
159 6
179 .0
204.7
244. 5
272.5
279.0
1948...
1949
1950...
1951,..
1952,..
1953...
1954...
1955...
1956.
..
1957...
1958 ..
1959...
1960...
1961
1962
1963
1964
1965,..
1966.
..
1967...
1968...
1969
1970...
1971.
. .
1972
1973...
1974,.1975
1976
1977
1978
1979
1980...
1981
1982...
49.
241 4
243 4
250 1
275.4
289 1
306.2
294. 3
304.4
321 8
324.6
302 .9
327.1
342.9
325.3
358.5
366 5
387.2
412 8
451 6
459.5
471.4
495 6
487 2
497 3
508 4
570. 7
566 2
530 0
581.3
612 .9
636 9
681 4
682 5
692 8
1973
1974
1975
1976
1977 ..
1978
1979
1980
1981
1982...
1948
1949...
1950
1951
1952
1953 .,
1954 ..
1955
1956...
1957
1958
1959
1960
1961
1962
1964
1965
1966...
1967...
1968...
1969
1970
1971
1972
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980.
..
1981...
1982...
22.7
19.4
30.1
23.5
24.8
22.4
29.6
36.1
35,8
34.6
38.1
39.2
37.9
42. 7
48 5
52.2
56.0
67.3
71.7
75,1
77.7
76 7
75.3
92.2
108.8
127.6
136 . 1
155.9
164 4
199.1
240.7
260.7
269.7
277.5
23.5
19.8
27.5
21.8
22.7
26.3
27.5
35.1
34.5
36.1
34.1
39.4
38.8
40 .8
47 4
51.1
56.4
65.0
71.1
71.3
75.5
77 2
76.6
89.3
102.5
123,3
143,4
147.8
161 9
197 .9
228.2
262 .8
262.8
276.5
VALUE OF GOODS OUTPUT IN L972 DOLLARS 2
(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
651.
24.0
18.9
23.0
23.2
22.4
26.1
26.2
33.8
36.0
36.1
31.2
42.8
39.7
39.5
46 1
50.1
55 . 2
64.0
70.4
69.3
75.0
77 9
75.2
84.6
101.0
123,3
135.8
131.5
159 9
189.6
221,4
252 .6
247.5
267.7
243 5
239 4
255. 7
281.4
286 4
310. 2
287.0
315.1
32L 0
322 .8
303 .6
337.5
338.3
335.1
360 .1
369 4
392.6
415 5
453 3
461.6
482.9
496 8
489 2
494 1
526 3
568. 7
567 8
540 2
587 .0
625.2
662 2
671 9
658 2
689 8
245 6
241 6
266.8
288.8
290.9
307.6
290.4
321.6
319 4
325.0
314.8
330.0
336.5
341.0
363.4
374.0
396.5
423. 9
456 8
464.5
489.7
498 3
492 7
497. 2
536 0
568.4
564 4
558 6
589.0
636.9
666 4
678 7
659 5
697 2
807
942
1 092
1 490
1 689
1 953
1,857
1,875
2,430
2 673
3 030
3 198
3 576
5,187
7,104
6,002
7,371
7,999
9,704
14,929
16,016
21,642
846
997
1, 084
1 531
1, 739
1, 853
1,873
2,075
2,402
2, 794
2 977
3 156
3 803
5,913
7,123
6, 352
7,429
8,337
10,465
17,445
17,848
22,048
This series contains revisions beginning with 1977.
contains revisions beginning with 1978.
Year
23.2
19.8
25.0
23.7
23.3
25.3
26.9
34.3
35.5
36.1
33.7
40.4
39.5
40.2
47 1
50.3
55.8
64.6
70.5
71.2
75.4
77 5
75,4
86.9
102.4
123.3
136.8
140.2
161 4
191.4
223.8
255.1
263.1
275.2
244.8
240 3
261.5
283.7
292.1
306.8
292.7
316.7
320.9
321.7
311.6
332.5
335.8
338.0
361.3
372.2
393.8
422.6
456.4
463.4
483.1
496 .0
486.9
497.2
529 6
572.3
562.5
547.4
587.2
628.1
662 .0
677.7
667.9
689.5
2.248
2.383
2.431
2.784
2.816
2.919
2.857
2.959
3.097
3.270
3.265
3 .400
3.598
3.561
3.770
3.875
4.016
4.111
4.309
4.464
4.506
4.574
4.687
4.783
4.867
5.041
5.170
5.313
5.681
5.817
5.977
6.392
6. 538
6.811
1948'. . . .
1949....
1950,...
1951
1952
1953....
1954
1955....
1956....
1957
1958....
1959
.
1960....
1961....
1962....
1963..,.
1964,...
1965.
. .,
1966....
1967
1968....
1969,...
1970.
. ..
1971....
1972....
1973
1974....
1975....
1976
1977...,
1978...,
1979....
1980....
1981....
1982
652.
892
1 032
1, 245
1 604
1 677
1, 733
1,959
2,181
2,346
2 875
2 773
3 340
3 933
6,080
6,464
6,884
7,455
8,129
12,465
18,284
18,877
21,727
II Q
III Q
47.8
36.1
43.5
39.8
37.4
42.9
42.7
54.6
54.1
50.9
43.5
58.6
54.0
53.8
62.7
67.9
74.2
85.3
91.3
87.0
90.6
90.2
82.6
88.1
101.5
119.7
120.7
100.3
115.7
129.8
140.9
148. 3
132.6
132.0
IV Q
2.337
2.347
2.479
2.825
2.795
2.927
2.848
3.002
3.132
3.286
3.257
3.470
3.598
3.611
3.802
3.896
4.043
4.167
4.330
4.445
4.564
4.618
4.706
4.761
4.907
5.072
5.258
5.363
5.675
5.902
6.155
6.350
6.583
6.744
43.4
37.0
54,0
39.4
41.1
36.4
47.8
56.1
51.7
48.1
52.7
53.3
51.6
58.1
65.8
70.5
74.9
88.6
91.1
92.4
91.7
86.0
80.2
93.9
108.0
120.1
110.0
115.1
115.5
131.0
147.1
146.4
139.1
131.8
This series contains revisions beginning with 1973.
282
245
271
371
437
487
566
679
784
1,004
1,422
1,227
1,479
2,102
2,706
3,237
3,405
3,099
4,372
7,254
10,505
12,405
This series
271
245
277
380
441
526
584
681
838
1,148
1,405
1, 283
1,623
2,392
3,005
3,143
3,332
3,398
5,326
7,834
10,268
13,441
45.3
37.9
46.3
40.6
39.1
41.4
43.8
54.8
52.6
48.7
46.7
5S.2
53.7
54.7
64.0
68.1
74.9
85.7
91.1
88.8
90.5
89.0
82.1
90.0
102.5
118.7
118.5
106.1
115.8
129.6
140.7
148.1
139.8
134.7
SUPPLY Ml1
AVERAGE
2.398
2.373
2.609
2.846
2.812
2.915
2,856
3.053
3 .168
3.336
3.320
3.432
3.577
3.650
3.849
3.931
4.033
4.208
4.404
4.444
4.568
4.685
4.730
4.764
4.910
5.131
5.313
5.481
5.716
5.988
6.216
6.406
6.534
6.923
2.419
2.354
2.689
2.831
2.882
2.870
2.894
3.095
3.217
3.316
3.377
3.506
3.55S
3.716
3.862
3.961
4.020
4.256
4.474
4.467
4.552
4.681
4.682
4.810
4.944
5.217
5.332
5.589
5.753
5.967
6.324
6.459
6.588
6.877
INCOME ON FOREIGN INVESTMENTS IN THE U.S.3
(MILLIONS OF DOLLARS)
1948....
1949....
1950 ...
1951
1952 . .
1953 .
1954
1955....
1956
1957....
1958....
1959....
1960
1961.
. ..
1962....
1963
1964....
1965....
1966....
1967....
1968....
1969
1970....
1971 ....
1972....
1973
1974...,
1975
1976
1977....
1978
1979
1980
1981
1982....
Annual
AVERAGE
45,3
37.9
50.8
36.9
38.0
42.8
44.7
55.1
50.7
50.5
47.4
53.6
52.7
55.6
64.4
69.2
75.7
86.1
91.5
88.6
90.2
87.9
83.0
92.0
102.1
117.7
121.8
111.1
115.3
133.2
142.1
151.0
137.8
133,9
RATIO, GROSS NATIONAL PRODUCT TO MONEV
(RATIO)
TOTAL
1, 340
1,395
1,593
1 882
1,828
1,910
2,227
2,444
2,662
2,817
2,845
3,043
4,616
4, 999
5,618
6 157
6,824
7,437
7,528
8,020
9,368
10,912
11 747
12,707
14 764
21,808
27,587
25,351
29,286
32,179
42,245
64,129
72,686
85,945
44.9
40.6
36.9
46.2
39.9
43.5
40.1
53.4
53.9
45.2
43.4
55.1
56.6
51.5
63.0
64.8
74.8
82.9
90.4
87.2
89.5
91.8
82.8
85.9
98.3
117.0
121.7
98.0
116.6
124.3
132.9
146.6
149. 7
141.2
1948....
1949
1950....
1951
1952 .
1953..
1954
1955
1956
1957....
1958.,..
1959...,
1960 .
1961....
1962 •
1963....
1964....
1965.. .
1966
1967
1968 ...
1969....
1970 •
1971....
1972....
1973
1974....
1975.
. ..
1976....
1977....
1978 . .
1979....
1980....
1981....
1982
107.
248 7
236 6
273.4
289.3
302 .0
302.9
298. 9
325.9
321.4
314.4
325 .1
335.5
325,6
350.5
363.3
378.9
398.8
438.2
464.0
468.0
488.3
493 2
478.4
500. 3
547 8
581.4
551.6
560 9
591.2
637.2
682, 3
678. 7
671.6
678.0
IQ
35 . NET CASH FLOW, CORPORATE, IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
AVERAGE
INCOME ON U.S. INVESTMENTS ABROAD 3
(MILLIONS OP DOLLARS)
806
973
999
1 532
1 718
1 898
1,837
1,890
2,190
2 569
2 968
3 012
3 451
4,628
6,895
6,113
7,031
7,714
9,612
13,473
19,944
20,528
Annual
267
254
281
393
439
515
652
672
867
1,324
1,377
1,428
1,650
2,518
3, 276
3,212
3,293
3,612
5,630
8,513
10,485
13,865
245
263
283
416
466
562
679
715
890
1,392
1,311
1,497
1,821
2,643
3,098
2,973
3,281
4,108
6,352
9, 315
11,518
13,198
2.350
2.364
2.552
2.822
2.826
2.908
2.864
3.027
3.154
3.302
3.305
3.452
3.582
3.634
3.821
3.916
4.028
4.186
4.379
4.455
4.548
4.640
4.701
4.780
4.907
5.115
5.268
5.436
5.706
5.918
6.168
6.402
6.561
6.839
TOTAL
260
333
369
414
421
461
420
489
568
639
669
828
1,237
1,245
1,324
1,561
1,784
2,088
2,481
2,747
3,378
4,369
5.S16
5,436
6,572
9,655
12,084
12,564
13,311
14,217
21,680
32,914
42,776
52,908
(AUGUST 1982)
101
C. Historical Data for Selected Series—Continued
Year
IV Q
IQ
618. MERCHANDISE EXPORTS, ADJUSTED, EXCLUDING MILITARY
GRANTS 1
(MILLIONS OF DOLLARS)
1948..
1949..
1950..
1951. .
1952. .
1953. .
1954..
1955. .
1956, ,
1957..
1958..
1959. .
1960. .
1961..
1962. .
1963. .
1964..
1965..
1966. .
1967..
1968..
1969. .
1970..
1971. .
1972..
1973. .
1974..
1975..
1976..
1977. .
1978..
1979..
1980..
1981..
1982.,
4,685
5,095
5,077
5,063
6,242
5,768
7,242
7,752
7,997
7,468
10,258
10,920
11,833
15,474
22,614
27,480
27,575
29,668
30,947
42,036
54,752
60,683
622.
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
4,916
4,806
5,336
5,599
6,199
6,876
7,169
7,693
8,325
9,536
10,744
10,878
11,618
17,112
24,500
25,866
28,256
30,852
35,392
43,834
55,843
60,284
5,031
5,038
5,331
5,671
6,423
6,643
7,290
7,531
8,744
9,400
10,665
11,548
12,351
18,271
24,629
26,109
29,056
30,752
36,811
47,236
55,786
57,694
5,018
5,169
5,037
5,939
6,637
7,174
7,609
7,690
8,560
10,010
10,802
9,973
13,579
20,553
26,563
27,633
29,858
29,544
38,904
51,367
57,8S6
57,593
BALANCE ON MERCHANDISE TRADE 1
(MILLIONS OF DOLLARS)
873
1,701
1,111
999
1,826
1,057
1,230
1,044
201
24
671
320
-1,668
-811
672
2,535
-565
-6,864
-11,116
-4,730
-9,679
-4,312
1,058
1,368
1,256
1,373
1,601
1,448
974
.1,218
274
9
978
-736
-1,636
-56
-1,784
3,075
-1,878
-7,156
-8,307
-7,283
-6,520
-6,547
1,383
1, 229
1,215
1,299
1,667
1,127
714
1,005
132
20
616
-623
1,671
588
2,693
1,656
3,111
7,200
7,525
6,974
3,949
7,845
6,605
7,225
7,354
7,997
9,574
9,341
10,921
11,818
12,435
12,428
15,902
17,097
18,512
23,958
34,293
39,260
41,112
44,925
49.367
64,921
85,277
93,280
6,853
6,963
7,806
8,561
9,452
10,610
10,947
11,654
13,071
14,753
16,680
17,288
18,445
26,259
36,730
37,474
42,200
46,654
53,785
68,167
82,949
94,389
7,060
7,255
7,764
8,628
9,799
10,342
11,135
11,725
13,563
14,871
16,532
17,943
19,498
28,544
37,033
38,293
43,644
47,019
56,167
74,201
85,385
92,965
TOTAL
13,265
12,213
10,203
14,243
13,449
12,412
12,929
14,424
17,556
19,562
16,414
16,458
19,650
20,108
20,781
22,272
25,501
26,461
29,310
30,666
33,626
36,414
42,469
43,319
49,381
71,410
98,306
107,088
114,745
120,816
142,054
184,473
224,237
236,254
IV Q
Year
1948.
1949.
1950,
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
I960.
1961.
1962.
1963.
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
1981.
1982.
3,812
3,394
3,966
4,064
4,416
4,711
6,012
6,708
7,796
7,444
9,587
10,600
13,501
16,285
21,942
24,94 5
28,140
36,532
42,063
46,766
64,431
64,995
667.
1,578
1,273
939
1,553
1,707
1,319
899
533
28
554
338
-1.221
-1*441
1,190
-1,538
1,781
-3,752
-9,653
-6,811
-8,359
-5,190
-9,185
7,079
7,441
7,685
9,030
10,002
10,795
11,559
12,118
13,297
15,469
16,561
16,508
21,039
31,479
38,609
40,703
44,674
45,741
60,818
79,486
88,491
92,259
5,708
5,339
1,122
3,067
2,611
1,437
2,576
2,897
4,753
6,271
3,462
1,148
4,892
5,571
4,521
5,224
6,801
4,951
3,817
3,800
635
607
2,603
-2,260
-6,416
911
-5,343
9,047
-9,306
-30,873
-33,759
-27,346
-25,338
-27,889
1948.
1949.
1950.
1951,
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
1981.
1982.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975,
1976.
1977.
1978.
1979.
1980.
1981.
1982.
3,648
3,809
4,116
4,372
4,756
5,516
6,576
6,526
8,612
9,380
10,049
12,171
14,022
17,683
27,322
24,453
32,167
37,952
44,336
54,210
59,735
65,539
803
1,324
1,432
1,870
2,241
2,363
1,534
1,480
1, 160
742
1,782
485
-710
1,903
2,020
6,167
2,675
1,721
3,036
78
306
2,909
1,160
1,257
1,336
1,721
2,421
2,025
1,181
1,435
922
766
1,354
444
-319
3,647
1,014
5,185
1,874
-1,460
-2,118
2,137
4,824
2,559
IMPORTS OF GOODS AND SERVICES,
(MILLIONS OF DOLLARS)
6,016
5,585
6,233
6,511
7,023
7,408
9,094
10,285
11,609
11,654
14,495
15,589
19,202
23,055
29,694
33,804
37,507
46,461
54,133
62,808
85,240
88,613
This series contains revisions beginning w i t h 1980. (Also, the 3d quarter and annual figures f o r 1975 fFor
o r wseries
w . „
622 were revised.) 2 TMs series contains revisions beginning w i t h 1977. 3 T h i s series contains revisions beginning with 1978.
102
3,858
3,438
4,080
4,226
4,598
5,428
6,195
6,475
8,051
9,527
9,766
11,614
13,254
17,168
26,284
22,791
30,134
38,008
43,699
51,117
62,363
66,831
3,440
3,896
4,098
4,386
4,930
5,855
6, 710
7,157
8,532
9,456
10,464
11,914
15,020
19,363
28,101
25,852
33,610
39,197
45,715
59,726
63,046
66,778
7,557
6,874
3,081
IX,176
10,838
10,975
10,353
11,327
12,803
13,291
12,952
15,310
14,758
14,537
16,260
17,048
18,700
21,510
25,493
26,866
32,991
35,807
39,age
46,299
55,79?
70,499
103,649
98,041
124,051
151,689
175,813
211,019
249,575
264,143
1,488
1,308
1,152
2,091
2,390
1,961
1,420
1,258
657
1,107
1,080
-170
-222
4,568
1,674
6,084
1,226
-4,734
176
768
3,131
943
6,518
6,218
1,692
3,817
2.3S6
532
1,959
2,153
4,145
5,901
2,336
310
5,132
6,346
6,025
7,K>7
9,604
8,2BS
5,963
5,708
3,563
3,393
5,625
2,269
-1,941
ll,02J
9,309
22,893
9,382
-9,451
-9,743
5,093
8,303
11,079
5,591
6,133
6,533
6,939
7,612
8,834
10,139
10,860
12,640
14,362
15,481
1'6,678
21,56.1
26,911
36,93a
34,619
43,448
50,475
60,642
78,718
85,360
91,316
10,343
9,616
12,001
15,047
15,766
16,546
15,930
17,795
19,627
20,752
20,861
23,342
23,729
23,591
25,778
27,047
29,222
32,801
38,599
41,606
48,800
54,129
6C,O5O
66,569
79,435
99,21?
137,357
132,836
162,248
193,788
229,880
281,677
333,800
361,813
BALANCE ON GOODS AND SERVICES 3
(MILLIONS OF DOLLARS)
589
1,640
1,121
1,486
2,551
1,933
1,827
1,533
826
774
1,407
1,508
-690
903
4,599
5,456
3,605
-1,536
-4,766
2,113
37
4,667
669.
TOTAL
16,861
15,834
13,893
18,864
18,122
17,078
17,889
19,948
23,772
26,653
23,217
23,652
28,861
29,937
31,803
34,214
38,826
41,087
44,562
47,314
52,363
57,522
65,674
68,838
77,495
110,241
146,666
155,729
171,630
184,337
220,137
286,772
342,102
372,892
Annual
620. MERCHANDISE IMPORTS, ADJUSTED, EXCLUDING MILITARY
{MILLIONS OF DOLLARS)
TOTAL
668. EXPORTS OF GOODS AND SERVICES, EXCLUDING TRANSFERS
UNDER MILITARY G R A N T S 2 (MILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
Annual
6,050
5,639
6,374
6,691
7,211
8,247
9,413
10,174
11,911
14,011
14,898
16,803
19,155
24,356
34,710
31,307
39,525
48,375
56,821
68,089
82,643
91,480
TOTAL
TOTAL 3
5,900
5,998
6,428
6,907
7,378
8,317
9,954
10,290
12,641
14,105
15,178
17,499
19,817
24,89?
36,019
33,108
41,770
48,479
58,285
72,064
80,561
90,406
TOTAL
(AUGUST 1982)
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III Q
IV Q
50. GROSS NATIONAL PRODUCT IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
.•
..
..
....
....
....
479.4
492 .6
512.6
564.4
593.7
623 . 2
610.5
644.1
666.8
683.5
665. 5
711 . 5
740.7
737.7
789.2
815 .0
864.2
906.7
975.4
997.8
1036.6
1084.2
1081.4
1111.5
1157.2
1246.8
1253.3
1204.3
1285.0
1341.3
1400.0
1472.6
1494.9
1507.8
488. 3
490. j
526.'I
575.<)
594. j
628..
608. ]
653 .;I
670.;\
684. ]
669.'
726.;
738.-:
750.
798.-;
826."
873."7
919.'1
979.3
1004.;
1055.7
1088.II
1083.0
1116.9
1178. >
1248.3
1254.7
1218.9
1293.'
1363.:
1437.0
1469.3
1457.t
1502.;
492.9
494.8
543.8
587.9
600.5
624.4
616.9
663.2
670.7
688.5
685.9
721.2
737.7
759.6
805.5
839.8
880.9
934.1
987.9
1016.2
1068.2
1092.0
1093.3
1125.7
1193.1
1255.8
1246.8
1246.1
1301.1
1385.8
1448.8
1486.6
1463.8
1510.4
3.2
-4.2
19.1
6.0
3.2
5.7
-4.9
10.3
-1.6
3.0
-7.8
5.2
7.2
3.1
5.3
3.5
7.5
9.3
8.0
0.5
3.7
4.7
-1.5
10.3
7.9
10.9
-4.0
-8.2
9.1
8.9
3.4
1.1
1.5
7.9
7.6
-1.8
11.2
8.4
0.4
3.3
-1.6
5.8
2.0
0.4
2.7
8.5
-1.2
6.9
4.8
5.8
4.5
5.8
1.6
2.6
7.6
1.7
0.6
2.0
7.6
0.5
0.4
4.9
2.7
6.7
11.0
-0.9
-9.6
-1.5
3.8
3.8
13,9
8.6
4.2
-2.4
5.9
6.3
0.3
2.6
9.9
-2.8
-0.4
5.2
3.6
6.5
3.3
6.4
3.6
4.9
4.8
1.2
3.9
3.2
5.0
2.4
-2.5
9.2
2.3
6.8
3.3
4.8
1.6
2.2
497.9
490.8
556.3
589.1
6X4.6
618. 2
628.4
669. 5
678.4
679.1
702.5
727 .9
732.1
779.0
808.0
848.6
886.8
956.8
996.6
1027.3
1071.8
1085.6
1084.7
U35.4
1214.8
1266.1
1230.3
1257.3
1313.1
1388.4
1468.4
1489.3
1479.4
1490.1
4.1
-3.3
9.5
0.8
9.7
-3.9
7.7
3.8
4.7
-5.3
10.0
3.8
-3.0
10.6
1.2
4.3
2.7
10.1
3.6
4.4
1 .4
-2.3
-3.1
3.5
7.5
3.3
-5.2
3.6
3.7
0.8
5.5
0.7
4.3
-5.3
200-B. DIFFERENCE FROM PRECEDING PERIOD IN GNP, CURRENT
DOLLARS2
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979.....
1980
1981
1982
6.0
-5.4
10.8
14.1
2.7
6.1
-0.6
12.6
1.8
8.1
-7.2
10.0
11.9
3.4
11.6
7.7
12.9
20,0
21.3
5.8
17.9
20,9
10.0
40.3
36.6
50.0
11.0
6.0
50.2
62.3
42.8
53.9
73.0
125.5
7.5
-3.5
9.5
7.9
0.2
3.3
-0.2
8.0
5.6
2.1
3.9
13.6
-0.6
11.0
8.5
8.7
8.7
12.9
11.5
7.9
26.0
16.2
14.3
19.6
29.3
24.1
36.1
36.9
26.6
60.3
107.8
42.4
-2.5
36,9
7.0
1.9
17.7
6.7
5.7
-1.0
4.4
8.6
5.1
7.1
13.2
-1.6
1.7
9.0
6.2
11.1
8.8
14.7
10.6
17.1
17.7
17.9
17.3
17.7
24.4
30.1
27.8
61.8
30.4
59.3
63.0
76.9
70.3
79.1
Year
1.4
-2.1
11.5
4.2
12.2
-5.3
8.9
6.2
8.6
-5.4
13,1
6.0
-3.2
14.4
5.4
10,6
6.0
20.8
14.3
17.6
15.4
6.7
5.4
19.2
37.4
39.0
22.2
43.3
43.5
34.5
79.1
48.1
95.7
22.3
489.8
492.2
534.8
579.4
600.8
623.6
616.1
657.5
671.6
683.8
680.9
721.7
737.2
756.6
800.3
832.5
876.4
929.3
984.8
1011.4
1058.1
1087.6
1085.6
1122.4
1185,9
1254.3
1246.3
1231.6
1298.2
1369.7
1438.6
1479.4
1474.0
1502.6
38.2
18.6
18.1
40.4
31.7
41.0
53,4
64.9
43.6
73.8
70.6
48.7
84.9
108.3
140.5
107.8
115.0
168.8
200.3
245.6
253.9
215.3
304.6
250.0
260.5
267.6
320.4
341.9
366.1
362.5
388.2
412.8
440.2
436,8
477.0
506.9
508.2
554.2
582.0
625.3
668.8
738.5
780.7
841.2
921.2
972.0
1049.3
1142.4
1283.5
1387.7
1479.8
1672.0
1834.8
2031.7
2335.5
2575.9
2864.9
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
III Q
IV Q
8.9
-2.3
13.8
11.5
0.6
5.1
-2.4
9.1
3.4
0.6
4.4
14.7
-2.3
12.4
9.2
11.7
9.5
13.0
3.9
6.4
19.1
4.6
1.6
5.4
21.3
1.5
1.4
14.6
8.7
22.0
37.0
-3.4
-37.1
-5.6
5.0
-4.0
12.5
1.2
14.1
-6.2
11.5
6.3
7.7
-9.4
16.6
6.7
-5.6
19.4
2.5
8.8
5.9
22.7
8.7
11.1
3.6
-6.4
-8.6
9.7
21.7
10.3
-16.5
11.2
12.0
2.6
19.6
2.7
15.6
-20.3
4.6
4.5
17.4
12.0
6.2
-3.9
8.8
10.0
0.5
4.4
16.0
-5.0
-0.7
9.5
7.1
13.1
7.2
14.4
8.6
12.0
12.5
3.2
10.3
8.8
14.6
7.5
-7.9
27.2
7.4
22.S
11.8
17.4
6.0
8.2
257.5
257.0
277.1
328.3
342.1
369.4
362.3
396.2
418.4
442.3
440.7
490.6
506.3
519.2
562.7
590.7
634.0
681.7
750.0
788.6
867.2
937.4
986.3
1068.9
1171.7
1307.6
1423.8
1S16.7
1698.6
1895.1
2139.5
2377.9
2573.4
2901,8
264.5
258.9
294.8
335.0
347.8
368.4
366.7
404.8
423.5
449.4
453.9
489.0
508.0
528.2
568.9
601.8
642.8
696.4
760.6
805.7
884.9
955.3
1003.6
1086.6
1196.1
1337.7
1451.6
1578.5
1729.0
1954.4
2202.5
2454.8
2643.7
2980.9
10.3
-7.9
17.9
19.7
3.2
7.0
-0.7
14.1
1.7
7.7
-6.3
8.9
10.0
2.7
8.9
5.4
8.7
13.0
12.4
3.1
9.0
9.6
4.2
16.9
13.9
17.2
3.2
1.6
13.0
14.8
8.9
9.8
12.2
19.6
1948.
1949.
1950.
1951.
1952.
1953.
1954.
195S.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
1981.
1982.
3
Year-to-year
12.5
-5.3
15.0
10.2
0.3
3.7
-0.2
8.5
5.5
1.9
3.7
11.9
-0.5
9.0
6.3
6.1
5.7
7.9
6.4
4.1
13.0
7.2
6.0
7.7
10.7
7. 7
10.8
10.4
6.5
13.8
23.0
7.5
-0.4
5.3
11.3
3.1
28.0
8.5
6.8
-1.1
5.0
9.0
4.9
6.6
12.5
-1.3
1.4
7.1
4.4
7.7
5.7
8.9
5.8
9.0
8.4
7.9
7.2
6.8
8.6
9.6
8.0
17.3
7.3
13.1
12.3
13.6
11.4
11.4
Annual
DIFFERENCE 3
19.5
2.4
42.6
44.6
21.4
22.8
-7.5
41.4
14.1
12.2
-2.9
40.8
15.5
19.4
43.7
32.2
43.9
52.9
55.5
26.6
46.7
29.5
-2.0
36.8
63.5
68.4
-8.0
-14.7
66.6
71.5
68.9
40.8
-5.4
28.6
AVERAGE
265.9
256.8
306.3
339.2
360.0
363.1
375.6
411.0
432.1
444.0
467.0
495.0
504.8
542.6
574.3
612.4
648.8
717.2
774.9
823.3
900.3
962.0
1009.0
1105.8
1233.5
1376.7
1473.8
1621.8
1772.5
1988.9
2281.6
2502.9
2739.4
3003.2
259.5
258.3
286.5
330.8
348.0
366.8
366.8
400.0
421.7
444.0
449.7
487.9
506.5
524.6
565.0
596.7
637.7
691.1
756.0
799.6
873.4
944.0
992.7
1077.6
1185.9
1326.4
1434.2
1549.2
1718.0
1918.3
2163.9
2417.8
2633.1
2937.7
PERCENT
CHANGE3
200-C. CHANGE FROM PRECEDING PERIOD IN GNP,
CURRENT DOLLARS2
(ANNUAL RATE, PERCENT)
'This series contains revisions beginning with 1973. 2 This series contains revisions beginning with 1977.
differences and percent changes are computed from annual data.
II Q
200. GROSS NATIONAL PRODUCT IN CURRENT DOLLARS2
(ANNUAL RATE, BILLIONS OF DOLLARS)
DIFFERENCE3
26.4
-1.2
28.2
44.3
17.2
18.8
0.
33.2
21.7
22.3
5.7
3.7
-5.3
21.8
8.1
4.6
8.6
-7.7
15.7
-2.7
5.1
-13.6
9.0
12.8
5.6
10.2
7.0
15.6
19.9
18.6
1.2
9.3
12.4
-4.2
26.8
21.8
32.0
-12.8
-26.0
27.7
28.2
11.6
4.2
5.6
28.4
1948
1949
1950
1951
1952.....
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
PERCENT
CHANGE3
4.1
0.5
8.7
8.3
3.7
3.8
-1.2
6.7
2.1
1.8
-0.4
6.0
2.2
2.6
5.8
4.0
5.3
6.0
6.0
2.7
4.6
2.8
-0.2
3.4
5.7
5.8
-0.6
-1.2
5.4
5.5
5.0
2.8
-0.4
1.9
IQ
50-B. DIFFERENCE FROM PRECEDING PERIOD IN GNP, 1972
DOLLARS 1
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
50-C. CHANGE FROM PRECEDING PERIOD IN GNP, 1972 DOLLARS1
(ANNUAL RATE, PERCENT)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
Annual
2.2
-3.2
16.6
5.1
14.6
-5.6
10.0
6.3
8.4
-4.8
12.1
5.0
-2.5
11.3
3.9
7.3
3.8
12.5
7.7
9.0
7.2
2.8
2.2
7.3
13.1
12.2
6.3
11.4
10.5
7.2
IS.2
8.1
15.3
3.0
11.3
-0.5
10.9
15.5
5.2
5.4
0.
9.0
5.4
5.3
1.3
8.5
3.8
3.6
7.7
5.6
6.9
8.4
9.4
5.8
9.2
8.1
5.2
8.6
10.1
11.8
8.1
8.0
10,9
11.7
12.8
11.7
8.9
11.6
(AUGUST 1982)
103
G. Experimental Data and Analyses
(Dec.) (Nov..)
P
T
Year
and
quarter
1980
Implicit price
deflator, gross
nonfarm business
product 1
(Index: 1977=100)
Unit labor cost,
all persons, nonfarm
business s e c t o r 1
(Index: 1977=100)
Revised 3
I Q....
II Q . . .
I l l Q..
IV Q . . .
Revised 3
123.6
127.2
129.9
132.7
127.8
132.5
134.7
136.8
136.5
138.9
142.3
145.5
139.0
141.9
145.1
149.0
rum
(Nov.)
P
(Jon ) (July)
P T
(Mar.)
T
TTT
TTT NT TTT TTT
Components of BCD series 2 6 -
I Hi
Implicit price deflator, gross nonfarm
business product, Q
(index: 1977-100)
TTT TTT Rutto scale
"1 160
150
140
130
120
110
160
150
140
130
1981
I Q....
II Q . . .
I l l Q..
IV Q . . .
1982
I Q....
II Q . . .
I l l Q..
IV Q . . .
146.6
pl48.2
100
Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)
120
110
100
90
151.6
P153.7
80
70
Inventory-sales ratios in 1972 dollars (ratio)—
Inventory-sales r a t i o s in 1972 d o l l a r s 2
Year
and
Manufacturing
month
(Ratio)
Merchant
wholesalers
(Ratio)
Retail trade
JSf
Manufacturing
Arithmetic
scale
2.2
(Ratio)
2.1
1981
Jan..
Feb..
Mar..
Apr..
May..
June.
1.98
1.97
1.98
1.97
1.99
1.95
1.34
1.34
1.36
1.37
1.39
1.42
1.36
1.37
1.36
1.38
1.40
1.41
July.
Aug..
Sept.
Oct..
Nov..
Dec.
1.98
2.01
2.04
2.12
2.15
2.14
1.39
1.43
1.41
1.44
1.43
1.46
1.43
1.42
1.44
1.48
1.48
1.47
July.
Aug..
Sept.
Oct..
Nov..
Dec..
••
1.9
1.8
1.6
1.5
1.4
1982
Jan
Feb..
Mar..
Apr..
May..
June.
2.0
2.19
2.14
2.13
2.16
r2.10
p2.09
rl.45
rl.37
pi.41
rl.40
pi.47
(NA)
(NA)
(NA)
1.49
1.42
1.40
1.48
1.44
1.45
1.45
1.6
1.5
1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982
NOTE: The "r" indicates revised; "p", preliminary; and "NA", not available.
^Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
3
See "New Features and Changes for This Issue," page iii.
104
1.3
1.4
1.3
G. Experimental Data and Analyses—Continued
(Aug.) (Apr.)
P
T
Ill
m
1 I*;ill
Apr.) (Feb.)
P
T
II
(Dec.) (Nov.)
P
T
III TIT III
t : l | : : II
II III III
II
II
(Nov.)
P
I?:?*: II
II
II;
(Mar.)
T
(Jan.) (July
P T
II
II
Arithmetic
scale
i
Changes in sensitive erei d i t -
ii
1
/
i. .:::
1 M(>nth-to-mor th differer ces i ann.
1
rate, bil. ( ol.; n loving>avg - 4 - t erm ]
:3:|
U
ii
1
fa
1
1
w
1
-
140
-
120
-
100
-
80
-
60
-
40
0
-
-20
O
1
20
-
1
r
si
I
ll
i
\
160
g
11
1 Jjl
S Month-to-month percen changes (ann. rate, percent; moving avg.—4-term1)
il
r
'
i
if
f
y
\
)
II II l l l | | l in in
20
10
\
II i
I l l III III III III III
III
III
III III
1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982
III
Year
M III
Jan.
Feb.
in
III
Mar.
Apr.
May
June
July
in
Aug.
iii
HI
Sept.
Nov.
Dec.
104.6
44.1
94.0
42.8
70.3
99.5
89.4
76.7
94.5
54.6
7.7
3.6
9.4
3.7
8.4
3.5
6.4
8.4
8.1
6.4
8.5
4.6
Oct.
Month-to-month differences in sensitive credit—monthly data (annual rate, billions of dollars)
198019811982-
151.2
84.3
88.2
122.9
74.1
86.0
82.9
50.5
44.6
8.9
121.1
74.5
-43.2
132.4
73.3
22.9
101.7
20.1
Month-to-month differences in s e n s i t i v e credit—smoothed
198019811982-
95.3
94.4
50.8
112.1
89.2
65.4
120.8
76.9
72.6
95.3
75.8
70.7
43.9
91.6
66.2
0.9
115.6
p-7.5
73.9
108.7
94.1
110.6
84.9
43.0
data 1 (annual r a t e , b i l l i o n s of dollars)
6.2
109.9
60.0
-5.1
117.5
p42.3
13.0
112.6
44.4
110.2
Month-to-month percent changes in sensitive credit—monthly data (annual r a t e , percent)
198019811982-
14.2
7.5
7.3
11.4
6.5
7.0
7.6
4.4
3.6
0.8
10.6
6.0
-4.0
11.4
5.9
2.1
8.7
1.6
0.1
9.8
p-0.6
6.8
9.2
8.6
9.3
1
Month-to-month percent changes in sensitive credit—smoothed data (annual rate, percent)
198019811982-
9.1
8.5
4.2
10.6
8.0
5.4
11.3
6.8
6.0
8.8
6.6
5.8
4.0
8.0
5.3
0.6
9.5
4.8
-0.5
10.1
p3.4
1.2
9.6
4.1
9.3
NOTE: See "New Features and Changes f o r This Issue," page i i i .
SOURCE: These series are compiled by the Bureau of Economic Analysis from data supplied by the Board of Governors
of the Federal Reserve System and the Federal Home Loan Bank Board.
1
This series i s a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
105
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Basic data
Series title
(and unit of measure)
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
5. Average weekly initial claims, State
unemployment insurance1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies receiving
slower deliveries (percent)
*12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars)
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 dol., smoothed2 (ann. rate, bil. do!.) .
92. Change in sensitive crude materials
prices, smoothed2 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43=10)
104. Change in total liquid assets, smoothed2
(percent)
106. Money supply (M2) in 1972 dollars
(billion dollars)
910. Composite index of 12 leading indicators3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars).
47. Industrial production, total
(index: 1967=100)
57. Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators9 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
70. Manufacturing and trade inventories, total,
in 1972 dollars (billion dollars)
62. Labor cost per unit of output, manufacturing
(index: 1967=100)
109. Average prime rate charged by banks
(percent)
72. Commercial and industrial loans outstanding
(million dollars)
95. Ratio, consumer installment credit to
personal income (percent)
930. Composite index of 6 lagging indicators 3
(index: 1967=100)
Apr.
1982
May
1982
Net contribution to index
Apr.
to
May
1982
July
1982
June
1982
May
to
June
1982
June
to
July
1982
39.0
39.1
r39.2
p39.3
0.09
0.09
0.10
566
585
551
515
-0.10
0.19
0.23
29.44
r30.80
r30.04
p30.42
0.26
-0.14
0.08
31
30
38
37
-0.04
0.31
-0 .04
NA
NA
NA
NA
NA
NA
NA
13.84
11.39
rll.24
pll.49
-0.48
-0.03
0.06
71.0
76.3
75.0
85.8
0.23
-0.05
0.47
r-18.38
r-14.29
p-13.71
0.28
0.04
r-1.67
-0.90
rO.22
0.94
0.35
0.51
0.36
116.31
116.35
109.70
109.38
0.00
-0.39
-0,02
e0.94
e0.96
re0.93
e0.90
0.07
-0.10
-0.12
829.7
829.3
r825.2
p826.8
-0.02
-0.21
0.09
126.8
rl27.7
rl28.1
pl29.8
0.71
0.31
1.33
90,083
r90,166
r89,860
p89,843
0.07
-0.27
-0.02
rl,069.9
rl,076.8
rl,071.1
pi,069.8
0.32
-0.26
-0.08
140.2
rl39.2
rl38.2
pl38.1
-0.20
-0.20
-0.03
149,648
rl53,9O3
pl50,902
NA
0.61
-0.43
134.0
rl34.9
rl33.1
pl32.7
0.67
-1.33
-0.30
14.2
14.6
16.5
15.6
-0.17
-0.76
0.52
r266.55
r264.57
p264.99
NA
-0.35
0.08
NA
228.0
r230.9
r232.5
p232.2
0.40
0.22
-0.06
16-50
16.50
16.50
16.26
0.00
0.00
- 0 . 70
206,920
r21O,3OO
r213,6O7
p214,491
0.36
0.34
0.14
rl3.00
rl2.95
pl2.95
NA
-0,17
0.00
rl84.5
rl84.2
183.7
pl83.2
-0.16
-0.27
NA
NA
NA
NA
-0.27
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. I t
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the March 1979 BUSINESS CONDITIONS DIGEST (pp. 106107) for weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
x
This
2
series is inverted in computing the composite index; i . e . , a decrease in this series is considered an upward movement,
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.099; for the coincident index, -0.164; for the lagging index, -0.170.
*See "New Features and Changes for This Issue," on page iv of the July 1982 issue.
106
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns
HOW TO READ RECESSION COMPARISON CHARTS
These charts show graphically, for selected indicators, the path of
the current business recession. To set the current movements in
historical perspective, cyclical paths over generally similar historical
periods also are shown. The selected periods are superimposed to
compare the current business recession with corresponding historical
patterns and to facilitate critical assessment of the amplitude, duration,
and severity of the indicators' current movements.
1. In most cases, comparisons are based on reference peak levels
and reference peak dates.
The three-part code indicates the timing
classification of the series at peaks, at troughs,
and at all turns: L = leading; C = roughly
coincident; Lg=lagging; and U = unclassified.
This number indicates the latest month (or
quarter) of data plotted. (1--January)
Deviations
from
reference
peaks
TT rxyr F r^rj F
Series number, series title
2. The vertical line represents reference peak dates. The current
and historical periods are alined so that their reference peaks fall on
this line.
Actual
data
for
current
cycle
Percent
+5
• 1075
3. The horizontal line represents the level of data at reference
peaks. The current and historical periods are alined so that their
reference peaks fall on this line.
4. In most cases, deviations (percent or actual differences) from
the reference peak levels are computed and plotted. For series
measured in percent units (e.g., the unemployment rate), those units
(actual data) are plotted rather than deviations. The deviations (if
plotted) and actual data for the current period are shown in the tables
accompanying the charts.
• 1050
• 1025
5. For series that move counter to movements in general business
activity (e.g., the unemployment rate), an inverted scale is used; i.e.,
declines in data are plotted as upward movements, and increases in
data are plotted as downward movements.
• 1000
6. Several curves are shown in each chart. The heavy solid line
( M M ) describes the current period. The dotted line ( • • • ) represents
the median pattern of the seven post-World War II cycles. The remaining
lines represent selected business cycles; each line is labeled according
to the year of the reference peak.
7. These charts use the business cycle (reference) peak and
trough dates designated by the National Bureau of Economic Research,
Inc.
Peaks: Nov. 1948 (IVQ 1948), July 1953 (UQ 1953), Aug. 1957
(IIIQ 1957), Apr. 1960 (IIQ I960), Dec. 1969 (IVQ 1969), Nov. 1973
(IVQ 1973), Jan. 1980 (IQ 1980), July 1981.*
• 975
i i I i i i i i 1 i i i i i I i
0
+6
+12
Months from reference peaks
Troughs: Oct. 1949 (IVQ 1949), May 1954 (UQ 1954), Apr. 1958
(IIQ 1958), Feb. 1961 (IQ 1961), Nov. 1970 (IVQ 1970), Mar. 1975 (IQ
1975), July 1980 (IIIQ 1980).
This scale measures time in months before ( - )
and after ( + ) reference peak dates.
This scale shows deviations (percent or actual
differences) from reference peak levels.
This scale shows actual series units and applies
only to the current business cycle (heavy solid
line).
*The NBER has not officially designated the latest reference peak Quarter. However, for purposes of these charts, it is assumed that the third quarter of 1981 is the reference peak for quarterly series.
107
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns-Continued
I IIIIIIIIII1IIIIII1IIIII1IIIT!•ITTT ITI
1 I 1 11 11 I I I 11 11 I I 1 I I 1 11 I 1 11 11 l l l l l l i l l
QRTRS.
FROM
REF.
PEAK
30. Change in business inventories,
1972 dollars
CURRENT QRTR.
AND
ACTUAL
YEAR
DATA
SERIES 30
ANN. RATE
BIL. DOL.
-6.2 IV/80
2.4 1/81
12.1
11/81
-3
-2
-1
0
1
2
3
Deviations
from
reference
peaks
21. Average weekly overtime hours,
production workers, manufacturing
Actual
data
for
current
16.5 111/81
.
4.8
IV/81
-15.4 1/82
-5.3
11/82
3.4
DEVIMONTHS
FROM A T I O N S CURRENT MONTH
REF.
FROM ACTUAL
AND
DATA
PEAK
7/81
YEAR
-
0 413.0
SERIES 21
HOURS
3.0 7/81
Deviations
from
reference
peaks
50. GNP in 1972 dollars
Actual
data
for
current
cycle -
1
2
3
4
O.
-O.3
-O.3
-0.5
3.0
2.7
2.7
2.5
8/81
9/81
10/81
11/81
5
6
7
8
-0.6
-0.7
-0.6
-0.7
2.4
2.3
2.4
2.3
12/81
1/82
2/82
3/82
9
10
11
12
-0.6
-0.7
-0.6
-0.6
2.4
2.3
2.4
2.4
4/82
5/82
6/82
7/82
•
2.2
--1.0
• 1.8
-J-1.5
90. Ratio, civilian employment to total
population of working age
QRTRS.
DEVIFROM ATIONS CURRENT QRTR.
AND
REF.
FROM ACTUAL
DATA
YEAR
PEAK 111/81
clc
• 1650
0 2.6
--0.5
-3
-2
-1
SERIES 50
ANN. RATE
BIL. DOL.
1479.4
IV/80
-2.1
-0.2 1507.8
1/81
1502.2 11/81
-0.5
1510.4 111/81
• 1600
• 1550
• 1500
• 1450
•6
0 +6
+12 -4-18
+24
Months from reference peaks
NOTE:
See "How t o Read Charts" on page 1 0 7 .
108
1490.1 IV/81
1470.7
1/82
1475.3 11/82
DEVIMONTHS
FROM A T I O N S CURRENT MONTH
REF.
AND
FROM ACTUAL
7/81
DATA
YEAR
PEAK
SERIES 90
PERCENT
0. 1 58.51 7/81
0
-5
-1.3
-2.6
-2.3
-0.07
-0.48
-0.50
-0.66
5 -1.04
6 -1.11
7 -1.16
8 -1.28
9 -1.42
10 -1.04
11 -1.29
12 -1.37
58.44
58.03
58.01
57.85
8/81
9/81
10/81
11/81
57.47
57.40
57.35
57.23
12/81
1/82
2/82
3/82
57.09
57.47
57.22
57.14
4/82
5/82
6/82
7/82
• 56.0
0
+6 +12 +18
Months from reference peaks
+24
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns-Continued
1 | 1 1 • • 1 | • • 1 1 • | l1 l t l j l l
29. New building permits, private
housing units
Deviations
from
reference
peaks
Q
Actual
data
for
current
cycle
]
O
s
ercent
+75
to
• 120
-
+ 50
Median
A
"m
-
• 90
• 60
-25
V
• 45
1973 * « s /
-
-50
47. Industria 1 production index
J
B
Percent
Actual '
data
for
current
cycle
7/81
-6
-11
-21
-21
7
3
6
1
70 . 9
67 . 4
59 . 6
60 . 0
8/81
9/81
10/81
11/81
5
6
7
8
-15
-14
-15
-9
3
6
8
6
64 . 4
64 . 9
64 . 0
68 . 7
12/81
1/82
2/82
3/82
-6. 6
O. 4
-1. 3
12. 9
71 . 0
76 . 3
75 . 0
85 . 8
4/82
5/82
6/82
7/82
9
10
11
12
Oeviations
from
reference
peaks
910. Composite index of 12 leading
indicators
Percent
+15
• 150
+ 10
MONTHS D E V I FROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
DATA YEAR
7/81
+5
• 140
0
SERIES 9 1 0
1967=100
0 P 134. 8
1
2
3
4
-0
-3
-4
-4
5
0
7
9
134.
130.
126.
128.
1
8
4
2
8/81
9/81
10/81
11/81
5
6
7
8
-5
-6
-7
-7,
6
8
1
2
127.
125.
125.
125.
2
7
2
1
12/81
1/82
2/82
3/82
9
10
11
12
-5.
-5,
-5.
-3.
9
3
0
7
126.
127.
128.
129.
8
7
1
8
4/82
5/82
6/82
7/82
7/81
• 75
•i
-
SERIES
29
1967=100
O P
76 . 0
1
2
3
4
+25
n
V
V
)
1980
• 105
v
AA
si
?
MONTHS D E V I FROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK . 7/81
DATA YEAR
• 130
-5
-10
• 120
MONTHS D E V I FROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
DATA YEAR
PEAK
7/81
0
SERIES 4 7
1967=100
0 . P 153.9
1
2
3
4
-0.2
-1.5
-3.1
-4.9
153.6
151.6
149.1
146.3
8/81
9/81
10/81
11/81
5
6
7
8
-6.8
-8.6
-7.1
-7.9
143.4
140.7
142.9
141.7
12/81
1/82
2/82
3/82
9
10
11
12
-8.9
-9.6
-10.2
-10.3
140.2
139.2
138.2
138.1
4/82
5/82
6/82
7/82
-15
7/81
110
-20
920. Composite index of 4 coincident
indicators
Percent
+ 5 *150
Median
+5
• 160
1980
A
. - -
^
n
-
• 155
u
• 150
1
/ I
-
[•
-5
|
1111
0
.1.1.nil.nil
+6
.....In
+12 +16
+24
Months from reference peaks
NOTE:
-15
• 130
0
• 140
~ 5 9135
7/81
-0.2
-0.7
-2.0
-3.1
142.5
141.8
139.9
138.4
8/81
9/81
10/81
11/81
5
6
7
8
-4.4
-6.1
-5.0
-5.5
136.5
134.1
135.7
135.0
12/81
1/82
2/82
3/82
9
10
11
12
-6.2
-5.5
-6.8
-7.1
134.0
134.9
133.1
132.7
4/82
5/82
6/82
7/82
• 140
-
-6
SERIES 9 2 0
1967=100
0. P 142.8
-10
• 135
• 145
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REF.
7/81
PEAK
DATA YEAR
• 145
1973
Median
• 130
-10
• 125
-15
-6
0
+6
+12 +18
+24
Months from reference peaks
See M How to Read Charts" on page 107.
109
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Accession rate, manufacturing
Agricultural products, exports
Anticipations and intentions
Business expenditures, new plant and equipment . . .
Business expenditures, new plant and equipment, 01
Consumer sentiment, index
Employees, manufacturing and trade, Dl
Inventories, manufacturing and trade, 01
New orders, manufacturing, Dl
Prices, selling, manufacturing, Dl
Prices, selling, retail trade, DI
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
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
data
descriptions
(issue date]
(*)
2
604
16
56
61
92
8/81
12/81
61
970
58
974
975
971
976
978
977
972
973
24
38
22
38
38
38
38
38
38
38
38
67
76
65
76
76
76
76
76
76
76
76
6/82 ' 34
6/82
34
1/82
31
48
1/82
1/82
48
1/82
48
1/82
48
1/82
49
1/82
48
1/82
48
1/82
48
55
616
22
56
65
92
4/81 ; 50
12/81 * 64
18
64
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 failures, current liabilities
Business formation
Business incorporations
,
Business inventories-See Inventories.
Business loans-See Bank loans.
Business SBving
Canada-See International comparisons.
Capacity utilization
Manufacturing (BEA)
Manufacturing (FR8)
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
72
112
15,35
32
73
72
3/82
3/82
43
43
33
33
72
72
1/82
1/82
45
45
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
6/82
7/81
6/82
6/82
12/81
12/81
3/82
35
24
34
34
44
32
32
295
46
82
5/81
37
83
82
84
20
20
20
64
64
64
8/81
8/81
8/81
25
25
25
97
11
965
24
24
37
66
66
75
10/81
10/81
10/81
33
33
33
914
35
34
11
29
29
60
70
70
11/81
4/81
4/81 ,
15
37
37
441
37
51
18
51
18,51
89
62
89
62,89
4/82
3/82
4/82
3/82
20
20
20
20
920
920c
951
940
9
72
112
10
39
36
11
23
15,35
32
60
11/81
11/81
2/82
11/81
3/82
3/82
3/82
15
74*'
60
66
73
72
15
32
43
43
is"
49
87
1/82
56
345c
280
50
45
87
82
1/82
5/81
56
56
64
30,47
70,83
4/81
56
346
49
1/82 ,
56
346c
50
1/82
56
340
49
6/82
15
340c
50
6/82
15
341
49
7/82
15
341c
348
349
50
50
50
7/82
8/81
8/81
15
62
62
19
3/82
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 tagging 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.
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 end 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.
Current issue
(page numbers)
Series
number
Charts
920
920c
940
10
39
11
11/81
11/81
11/81
930
930c
10
39
11/81
11/81
15
914
915
913
917
916
910
910c
11
11
11
11
11
10
39
11/81
11/81
11/81
11/81
11/81
11/81
11/81
15
15
15
15
15
15
15
is'
13,25
23
24
67
66
67
6/82
3/82
9/81
35
32
28
47
25
25
47
25
25
83
67
67
83
67
67
4/81
4/81
4/81
4/81
4/81
3/82
51
51
51
51
51
35
12,21
22
64
65
8/82
7/81
26
24
113
95
35
32
15,35
33
73
72
73
72
5/82
5/82
5/82
2/82
43
43
43
45
320
320c
322
322c
58
49
49,59
49
49
22
84,95
84,95
84
84
65
5/82
5/82
5/82
5/82
1/82
59
59
59
59
31
20
10
116
12,23
23
34
8/82
8/82
2/82
32
32
46
112
110
72
32
32
15,35
3/82
1/82
3/82
43
44
43
35
32
15,35
33
32
5/82
5/82
5/82
2/82
3/82
43
43
43
45
42
4/82
5/81
10/81
7/82
64
53
26
248
87
86
249
89
28
113
95
525
564
548
517
39
32
33
12,21
2/82
2/82
45
28
970
965
951
974
963
967
38
37
36
38
36
37
6/82
10/81
2/82
1/82
7/82 i
1/82
34
33
15
48
15
36
37
7/82
24"
1/82
1/82
18*'
48
15
15
26
962
975
952
950
964
976
978
977
960
972
973
NOTE: CI, composite index; Dl, diffusion index; 6PDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
110
Series
Historical
descriptions
data
(issue date)
(*)
urn,
2/82
8/82
1/82
2/82 •
1/82
1/82
1/82
8/81
1/82
1/82
7/82
48"
36
48
49
48
48 "
48
15
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Earnings-See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Employee hours in nonagricultural
establishments
Employee hours in nonagricultural
establishments, rate of change
Employees in mining, mfg., and construction
Employees, manufacturing and trade, 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
Ouit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed, full-time workers
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 15 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, mfg. production workers
Workweek, mfg. production workers, components
Workweek, mfg. production workers, D l . . ' .
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.
Federal funds rate
Federal Government-See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, and money, Cl
,
Fixed investment-See Investment, capital.
Fixed weighted price index, NIPA
Fixed weighted price index, percent changes, NIPA
Food-See Consumer prices.
Foreign trade-See also International transactions.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports, merchandise, total exc. military aid
Exports of agricultural products
Exports of goods and services, constant dol., NIPA
Exports of goods and services, current dol., NIPA
Exports of goods and services, exc. military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports, merchandise, total
,
Imports of automobiles and parts
Imports of goods and services, constant dol., NIPA
Imports of goods and services, current dol., NIPA
Imports of goods and services, total
Imports of petroleum and products
Net exports, goods and services, constant dol., NtPA . .
Net exports, goods and services, current do!., NIPA . . .
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal, constant dollars
Federal, current dollars
Federal, percent of GNP
National defense
State and local, constant dollars
State and local, current dollars
State and local, percent of GNP
Total, constant dollars
Total, current dollars
Current issue
(page numbers)
Series
number
Charts
2
441
16
51
Tables
61
89
39
17
38
14,17
36
18
51
17
17
12,16
36
16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16
36**
(*)
8/81
4/82
7/82
17
48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
44S
42
4
446
445
447
444
91
44
45
43
37
1
Historical
Series
data
descriptions
(issue date)
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
15
7/82
7/82
1/82
7/82
7/82
3/82
4/82
7/82
3/82
2/82
1/82
8/81
11/81
7/82
4/82
4/82
4/82
4/82
3/82
8/81
4/82
4/82
4/82
4/82
3/82
3/82
3/82
3/82
3/82
7/82
7/82
72:
2/82
46
40
11
72
80
60
1/82
5/81
11/81
45
49
15
311
311c
48
48
84
84
5/81
5/81
58
59
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
44
44
47
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
82
82
83
8/82
8/82
8/82
5/82
12/81
5/81
4/81
8/82
12/81
8/82
5/82
12/81
5/81
5/81
8/82
12/81
5/81
4/81
4/81
65
65
65
64
64
54
54
65
64
65
64
64
33
72
1/82
45
250
251
Current issue
(page numbers)
number
Charts
Series
Historical
data
descriptions
(*)
Tables
311
311c
48
48
30
84
84
70
5/81
5/81
4/81
58
59
39
50
50b
50c
200
200b
200c
107
49
310
310c
217
19,40
63,1
31
20
48
48
40
80
80
80
80
80
71
63
84
84
80
8/82
8/82
8/82
8/82
8/82
8/82
8/82
4/81
5/81
5/81
8/81
49
49
49
49
49
49
40
25
49
49
49
17
17
61
61
7/82
3/82
19
19
16
12,16
7/82
7/82
15
15
46
39*'
40
961
36
61
61
77
74
7/82
15'
28
29
89
249
25
13,25
25
47
67
67
67
83
3/82
6/82
4/81
4/81
35
35
51
51
310
310c
48
48
84
84
5/81
5/81
49
49
49
87
1/82
56
345c
280
64
50
45
30,47
87
82
70,83
1/82
5/81
4/81
56
56
56
I
33
255
Gross business product
Fixed weighted price index
Fixed weighted price index, percent changes
Gross domestic product, labor cost per unit
Gross national product
GNP,constant dollars
GNP, constant dollars, differences
GNP, constant dollars, percent changes
GNP, current dollars
GNP, current dollars, differences
GNP, current dollars, percent changes
GNP, ratio to money supply
Goods output in constant dollars
Implicit price deflator
Implicit price deflator, percent changes
Per capita GNP, constant dollars
Gross private domestic invest.—See Investment, capital.
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
,
34
94
213
917
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
54
54
65
64
54
54
54
20
63
4/81
25
502
501
500
512
511
510
298
. 52
52
52
52
52
52
46
90
90
90
90
90
90
83
5/81
5/81
5/81
5/81
5/81
5/81
5/81
62
62
62
62
62
62
58
263
262
265
564
267
266
268
261
260
43
43
47
55
43
43
47
43
43
81
81
83
91
81
81
83
81
81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
53
53
53
53
.53
53
53
53
53
Implicit price deflator, GNP
Implicit price deflator, GNP, percent changes
Imports-See Foreign trade and International transactions.
Income
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees
Compensation of employees, pet. of nat'l. income . . . .
Compensation, real average hourly, all employees,
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Consumer installment debt, ratio to personal income ..
Corporate profits with IVA and CCA
Corp. profits with IVA and CCA, pet. of nat'l. income :
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita, constant d o t . . .
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
private nonfarm economy, percent changes
Earnings, real average hourly, production
workers, private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes .
Income on foreign investment in the U.S. . . . . . . :
Income on U.S. investments abroad ..."
Interest, net
.
Interest, net, percent of national income
National income
;
Personal income, constant dollars
Personal income, current dollars
...........
Personal income, less transfers, constant dollars
Personal income, less transfers, constant dols. rate of chg.
Personal income, ratio to money supply
Proprietors' income with IVA and CCA
Proprietors' income with. IVAand CCA, percent
of national income
Rental income of persons with CCA
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions, first year . . . : ; . . ' : : . ; . . ' .
Wage and benefit decisions, life of contract
Wages and salaries, mining, mfg., and construction . . . .
Incorporations, new businesses
Industrial materials prices
Industrial materials prices, components
Industrial materials prices, DI
Industrial production • See alsn International comparisons.
Business equipment
.'
Consumer goods
....,,..
Durable manufactures
.'...'......"
Nondurable manufactures
Total
.
Total, components
.'
Total, Dl
Total, rate of change
J
Installment debt-See Credit.
Insured unemployment
Avg. weekly initial claims, unemploy. insurance . . ; . . .
Avg. weekly initial claims, unemploy. insurance, 01 . . .
Avg. weekly insured unemployment rate
346
49
88
1/82
56
346c
95
286
287
225
224
227
50
15,35
45
88
73
82
40
40
80
80
1/82
5/82
5/81
5/81
4/81
4/81
8/81
56
43
37
37
22
22
22
340
49
87
6/82
15
50
87
6/82
15
341
49
87
7/82
15
341c
652
651
288
289
220
52
223
51
51c
108
282
50
57
57
45
47
45
19
40
14,19
39
87
93
93
82
83
82
63
63
63
7/82
8/82
8/82
5/81
5/81
4/81
6/81
6/81
10/81
10/81
8/82
5/81
15
65
65
57
57
55
22
22
22
283
284
2B5
348
349
53
13
23
47
45
47
50
50
19
23
28
5/81
5/81
5/81
8/81
8/81
3/82
3/82
1/82
56
57
57
62
62
22
32
36
967
76
75
73
74
47
47c
5
962
45
il
37
24
22
20
20
14,20,58
37
39
12,16
36
18
71"
82
83
82
83
88
88
63
65
69
79
75
67
65
63
63
63,94
78
75
61
74
62
40*
56
1/82
36*
7/81
7/81
7/81
7/81
7/81
24
24
24
24
24
7/82
7/81
24*
2/82
1/82
3/82
18
18
18
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
111
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(Sae 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
Jai
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 goodsand 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 end trade, current dollars
Manufacturing and trade, current dollars, change
Manufacturing and trade, DI
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.,
change
Investment, capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl . . . . . .
Capital investment commitments, Cl
Construction contracts, commercial and industrial
Construction expenditures, business and machinery
and equipment sales
Gross private domestic investment
Fixed investment, constant dollars
Fixed investment, current dollars
Inventories, business, change in—See Inventories.
NonrBsidential, total constant dollars
Presidential, total, percent of GNP
Producers' durable equip., nonresid., constant dot. . .
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
Tables
Historical
Series
data
descriptions
(issue date)
(*)
288
289
5/81
5/81
67
116
119
118
117
109
114
115
8/81
2/82
2/82
2/82
2/82
2/82
2/82
2/82
(See complete titles in "Titles and Sources of
Series," following this index)
Plant and equipment
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars.
Contracts and orders, current dollars..
Investment, foreign
Income on foreign investments in U.S. . .
Income on U.S. investments abroad
Italy-See International comparisons.
Current issue
(page numbers)
Series
number
Charts
61
970
20
10
24
38
12,23
23
8/82
8/82
651
57
57
8/82
8/82
30
15,30
30
29
4/81
6/81
1/82
12/81
39
39
39
930
930c
952
3
10
39
36
16
U/81
11/81
2/82
8/81
15
910
910c
950
14
104
10
39
36
33
13,31
11/81
11/81
2/82
12/81
5/82
15
15
44
40
11/81
9/81
15
28
9/81
28
6/82
6/82
Japan-See International comparisons.
723
726
727
728
721
722
47
725
96
59
96
95
59**
95
96
59"
96
95
59"
95
95
59
95
49
84,95
49,59
84,95
95
59"
95
58
94
58
94
58
94
94
58
58
94
58
94
14,20,58 63,94
94
58
743
746
747
748
742
19
745
59
59
59
59
59
59
59
96
96
96
96
96
96
96
7/81
7/81
7/81
7/81
7/81
6/79
7/81
70
70
70
70
70
36
70
667
622
618
620
612
616
669
614
652
651
57
57
57
56
56
57
56
57
56
56
57
56
57
57
93
93
93
92
92
93
92
93
92
92
93
92
93
93
8/82
8/82
8/82
5/82
12/81
8/82
12/81
8/82
5/82
12/81
8/82
12/81
8/82
8/82
65
65
65
64
64
65
64
65
64
64
65
64
65
65
30
245
247
65
36
77
915
70
71
31
975
78
26,42
42
47
27
13,26
27
11
15,27
27
26
38
27
68,81
81
83
68
68
68
60
68
68
68
76
68
4/81
4/81
4/81
9/81
8/82
10/81
11/81
10/81
10/81
9/81
1/82
9/81
51
51
51
28
28
28
15
28
28'
28
48
28
26
68
9/81
28
24
24
37
66
66
75
60
66
10/81
10/81
10/81
11/81
3/82
33
33
33
15
32
9/81
28
733
733c
736
736c
737
737c
738
738c
732
732c
320
320c
735
735c
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
5/82
5/82
4/82
4/82
68
68
68
68
69
69
69
69
68
68
59
59
68
68
12/81
12/81
12/81
12/81
12/81
12/81
7/81
12/81
66
66
66
66
66
66
24
66
L
Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
....
Labor cost per unit of output, private business sector..
Labor cost, price per unit of, nonfarm business...
Labor force-See Employment and unemployment.
Lagging indicators, six
Composite index
.'...•....'
ii.l
Composite index, rate of change
:..
:....
Diffusion index
.'.;
Layoff rate, manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change
:.
Diffusion index
.'.;..
Liabilities of business failures
Liquid assets, change in total
;
Loans-See Credit.
Man-hours-SeB Employment and unemployment.
Marginal employment adjustments, Cl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.
change
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
Materials, new orders for consumer goods and
Materials, rate of capacity utilization . . . , . ' . ;
Merchandise trade-See Foreign trade.
Military-See Defense.
Money and financial flows, Cl
Money supply
Liquid assets, change in total
Money supply Ml
'
Money supply M l , percent changes
Money supply M2
.:...;.;..;;;;;.
Money supply M2, percent changes
."
Ratio, GNP to money supply Ml
Ratio personal income to money supply M2 . . . . . . .
Mortgage debt, net change
;...;..;..
Mortage yields secondary market
Municipal bond yields
913
78
26
12,21
20
68
15
18
8/82
8/81
11
11/81
15
104
105
85
106
102
107
108
33
118
117
73,31
31
31
13,31
31
31
31
32
34
34
5/82
5/82
5/82
5/82
5/82
8/82
8/82
3/82
2/82
2/82
40
40
40
40
40
40
40
42
46
46
27
24
8
20
10
548
7
23
23
12,21
12,23
23
53
21
21
N
97
11
965
914
n
23
'24
243
242
42
42
4/81
4/81
51
51
66
248
88
89
249
87
241
240
25
47
25
25
47
25
42
42
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
51
51
51
51
51
51
51
51
23
8/82
26
23
8/82
26
National defense-See Defense.
National Government-See Government.
National income-See Income.
New orders, manufacturers'
Capital goods industries, nondefense, constant d o l . . .
Capital goods industries, nondefense, current dol
Consumer goods and materials, constant dollars
Contracts and orders, plant and equip,, constant dol.
Contracts and orders, plant and equip., current dol. .
Defense products
Durable goods industries, constant dollars
Durable goods industries, current dollars
Components
Diffusion index
New orders, manufacturing, Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
Total, constant dollars
Total, percent of GNP
Obligations incurred, Defense Department
OECD, European countries, industrial production
Orders-See New orders and Unfilled orders.
Output-See also Gross national product and
Industrial production.
Goods output, constant dollars
Labor cost per unit of
Per hour, nonfarm business sector
Per hour, private business sector
Per hour, private business sector, percent changes.
Ratio to capacity, manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity, materials
Overtime hours, production workers, manufacturing
8/82
8/82
8/82
8/B2
8/B2
10/81
B/B2
8/82
26
26
26
32
32
26
26
26
964
971
8/82
1/82
26
48
248
4/81
4/81
4/81
4/81
51
51
51
51
517
721
7/82
12/81
66
4/81
6/81 .
10/81
12/81
12/81
8/81
8/81
8/81
7/82
25
39
61
61
61
25
25
25
15
49
62
358
370
370c
83
82
84
21
20
15,30
50
50
50
20
20
20
16
NOTE: Cl, composite index; 01, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
112
Tables
Series
Historical
descri ptians
data
(issue date]
(*)
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
e complete titles in "Titles and Sources of
Series/' following this index)
Participation rates, civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
Durable goods, constant dollars
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 G NP
Personal income-See Income.
Personal saving . . ;
Personal saving rate
.
Petroleum and products, imports
Rant and equipment-See also Investment, capital.
Businessexpendituresfor
Businessexpenditues for, Dl
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, 01
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, index
Intermediate materials, percent changes . . . . . :
Producer finished goods, index
Producer finished goods, percent changes
Price to unit labor cost, nonfarm business
Prices, selling
Manufacturing, Dl
Retail trade, DI
.....;.:....
Wholesale trade, Dl
:.
Prime contracts, military
Prime rate charged by banks
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDI
Product ion-See Industrial production and GNP.
Productivity
Output per hour, nonfarm business1 sector
Output per hour, private business sector
Output per hour, private business sector, pet. changes .
Profitability, Cl
Profits
Corporate, after taxes, constant dollars
Corporate, after taxes, current dollars
Corporate, after taxes, with IVA and CCA,
constant dollar
Corporate, after taxes, with IVA and CCA, cur. dol. .
Corporate, with IVA and CCA
Corporate, with IVA and CCA, pet. of nat'l. income . . .
Manufacturing and trade, 01
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 I VA and CCA
Proprietors' income with IVA and CCA, pet. of nat'l. inc..
Historical
Series
data
descriptions
(*)
453
452
451
51
51
51
4/82
4/82
4/82
20
20
20
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
50
50
50
50
50
50
50
50
50
50
292
293
614
46
46
56
5/81
5/81
12/81
58
58
64
61
970
20
10
24
38
12,23
23
18
6/82
6/82
8/82
8/82
3/82
34
34
32
32
20
320
320c
322
322c
49
49,59
49
49
84,95
84,95
84
84
5/82
5/82
5/82
5/82
59
59
59
59
311
311c
310
310c
23
48
48
48
48
28
5/81
5/81
5/81
5/81
1/82
58
59
49
49
36
967
26
92
37
29
13,28
84
84
84
84
69
79
75
70
69
1/82
12/81
3/82
60
13,28
37
69
75
7/82
2/82
36
36
330
330c
334
334c
331
331c
332
332c
333
333c
26
48
48
48
48
48
48
48
48
48
48
29
85
85
86
86
85
85
86
86
86
86
70
5/82
5/82
6/82
6/82
5/82
5/82
6/82
6/82
6/82
6/82
12/81
59
59
60
60
60
60
60
60
60
60
978
978
977
525
109
38
38
38
53
35
76
76
76
90
73
1/82
1/82
.1/82
4/82
2/82
48
49
48
64
46
25
67
4/81
Series titles
(See complete titles in "Titles and Sources of
Series," following this index}
Reserves, free
Residential fixed investment,constant dollars, GPDI .
Residential fixed investment, percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales, current dollars
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, 01
Stocks of materials and supplies on hand and on order .
Stocks of materials and supplies on hand and on order,
change
Surplus-See Government.
Treasury bill rate
Treasury bond yields . . .
Current issue
(page numbers)
Series
number
Charts
Tables
Series
Historical
data
descriptions
(issue date)
(*)
93
89
249
1/82
4/81
4/81
45
51
51
59
54
6/82
6/82
31
31
213
40
5/81
49
57
56
973
77
59
54
24
14,22
22
38
27
22
22
9/81
10/81
10/81
1/82
10/81
6/82
6/82
28
28
28
48
28
31
31
295
298
290
292
293
46
46
46
46
46
5/81
5/81
5/81
5/81
5/81
37
58
58
58
58
13,28
3/82
60
13,28
37
27
7/82
2/82
9/81
36
36
28
26
9/81
28
2/82
2/82
46
46
114
115
U
358
370
370c
916
50
50
50
18
16
80
79
286
287
972
960
15
916
22
81
282
283
10/81
12/81
12/81
11/81
61
61
28
28
4/81
4/81
37
37
28
4/81
37
4/81
37
5/81
37
5/81
37
1/82
48
8/81
6/82 . 38
11/81
15
4/81
37
n
28
45
47
38
37
29
11
29
61
37
56
56
8/81
18
284
5/81
57
285
5/81
57
29
45
47
Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio . . .
Initial claims, avg. weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, Dl .
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes, 16-19 years of age
Females, 20 years and over
Full-time workers
Males, 20 years and over
Total unemployed
Quit rate, manufacturing
Unemployment rates
15 weeks and over
Insured, average weekly
Total
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries, change in
United Kingdom-See International comparisons.
5
962
3
15,18
17
12,16
36
16
62
61
61
74
61
3/82
3/82
2/82
1/82
8/81
20
19
18
18
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
62,89
61
4/82
4/82
4/82
4/82
3/82
8/81
20
44
45
43
18
18
18
62
62
62
3/82
3/82
3/82
20
96
25
21
21
64
64
10/81
9/81
26
107
108
32
31
31
12,21
8/82
8/82
2/82
40
40
28
330
330c
334
334c
331
331c
332
332c
333
333c
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
5/82
5/82
6/82
6/82
5/82
5/82
6/82
6/82
6/82
6/82
3/82 •
7/82
59
59
60
60
60
961
36
7/82
18
20
20
20
20
18
18
20
26
15
4/81
5/81
5/81
Quit rate, manufacturing .
Rental income of persons, with CCA
Rental income of persons, with CCA, percent of nation;
i ncorrte
,
Current issue
{page numbers)
Series
number
Velocity of money
GNP to money supply M l , ratio
Personal income to money supply M2, ratio
Vendor performance
Wages and salaries-See Compensation.
West Germany-See International comparisons.
Wholesale prices
Alt commodities, index
All commodities, percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
Crude materials, index
Crude materials, percent changes
Intermediate materials, index
Intermediate materials, percent changes
Producer finished goods, index
Producer finished goods, percent changes
Sensitive prices, change in
Workweek of production workers, manufacturing . . . .
Workweek of production workers, manufacturing,
components
Workweek of production workers, manufacturing, Dl .
60
60
60
60
60
60
15
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. " M " following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
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 (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 ordiar in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
(M).-Source 1
(10,39,60)
15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Com*
mission; seasonal adjustment by Bureau of Economic Analysis
(29,70)
39. Percent of consumer installment loans delinquent 30
days and over (EOM).-American Bankers
Association
(33,72)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8,32, 36, 92) (M).-Source
1
(11,60)
916. Composite index of profitability (includes series 19,26,
80) (M).-Source 1
(11,60)
18. Corporate profits after taxes in 1972 dollars ( Q ) Source 1
(28,69)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).-Source 2
(26,68)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M) -Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks ( M ) . Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over(M).-Sources2 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
(1,8,62)
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 newspaper; ( M ) . The Conference Board
(17,61)
930. Composite index of six lagging indicators (includes
series 62, 70, 72, 91, 95, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
47. Index of industrial production, total (M).-Source
4
(14,20,39,58,63,78,94)
23. Index of spot market prices, raw industrial materials
(M).—Source 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).-Source
2
(23,66)
48. Employee-hours in nonagricultural
(M).-Source 3
940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).-Source
1
(11,60)
1-B. Cyclical Indicators
1. Average workweek of production workers,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).-Source 3 (16,61)
3. Layoff rate, manufacturing (M).-Source 3
(16,61)
4. Quit rate, manufacturing (M).-Source 3
(16,61)
5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis
unemployment
Department of
Administration;
of Economic
(12,16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).-Sources
1, 2, and 3
(23,66)
28. New private housing units started, total (M).-Source
2
(25,67)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).-Sources 1, 2, and
3
(12,21,64)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26,42,68,81)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by
32. Vendor performance, percent of companies receiving
slower deliveries (M).—Purchasing Management
Association of Chicago
(12,21,64)
114
establishments
(17.39,61)
49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M),-Sources 1 and
3
(19,63)
54. Sates of retail stores in current dollars (M).-Source
2
(22,65)
55. Personal consumption expenditures, automobiles (Q).~
Source 1
(22,65)
56. Manufacturing and trade sales in current dollars ( M ) . Sources 1 and I
(22,65)
57. Manufacturing and trade sales in 1972 dollars ( M ) . Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).-Sources 1, 2, 3, and The Conference
Board
(17,61)
84. Rate of capacity utilization, materials (Q).-Source
4
(20,64)
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1(25,67)
62. Index of labor cost per unit of output, total
manufacturing—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)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).Source 1
(25,67)
63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).-Source
2
(27,68)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
66. Consumer installment credit (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)
85. Change in money supply Ml (M).-Source 4
(31,71)
92. Chance in sensitive crude materials 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 credit 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)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).-The Conference Board (24,66)
102. Change in money supply M2 (M).-Source 4 (31,71)
104. Change in total liquid assets (smoothed) (M).-Sources
1 and 4
(13,31,71)
82. Rate of capacity utilization, manufacturing (Q).-Source
4
(20,64)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
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—172-186 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 spot market prices, raw industrials—
13 industrial materials (M).-Sources 1, 3, and
Commodity Research Bureau, Inc.
(35,75,79)
970. Diffusion index of business expenditures for new plant
and equipment, total— 22 industries (Q).—Source
1
(38,76)
107. Ratio, gross national product to money supply Ml
(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)
115. Yield on long-term Treasury bonds (M).—U.S.
Department of the Treasury
(34,73)
(28,69)
951. Diffusion index of four roughly coincident indicator
components (M).-Source 1
(36,74)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
1-C, Diffusion Indexes
950. Diffusion index of twelve leading indicator components
(M).-Source I
(36,74)
968. Diffusion index of stock prices, 500 common stocks—
53-82 industries ( M ) . - S t a n d a r d & Poor's
Corporation
(37,75)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current 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)
(34,72)
105. Money supply Ml in 1972 dollars (M).-Sources 1,3,
and 4
(31,71)
112. Net change in bank loans to businesses (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,72)
113. Net change in consumer installment credit (M).-Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
119. Federal funds rate (M).-Source 4
116. Yield on new issues of high-grade corporate bonds
(M).-Citibank and U.S. Department of the
Treasury
(34,73)
117. Yield on municipal bonds, 20-bond average (M).-The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).-U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
971. Diffusion index of new orders, manufacturing—about
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)
11-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)
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)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
239. Personal consumption expenditures, services, in 1972
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)
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
292. Personal saving (Q).-Source 1
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).-Source
1
(47,83)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q),-Source
1
(46,82)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).-Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q) -Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).-Source
1
(44,82)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).-Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).-Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).- -Source 1 (46,83)
298. Government surplus or deficit, total (Q).--Source
1
(46,83)
Il-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product ( Q ) . Source 1
(48,84)
311. Fixed-weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).—Source
3
(49,!>9,84,95)
322. Index of consumer prices, food (M).-Source 3(49,84)
330. Index of producer prices, all commodities (M). -Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment ( M i Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities ( M ) . ~
Source 3
(48.85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonally (M).-Source 3
(49,87)
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)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q)-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
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)
(45,82)
2Z2. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonally (M).-Source
3
(49,87)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
285. Rental income of persons with capital consumption
adjustment as a percent of national income ( Q ) . Source 1
(47,83)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).-Source 1
(47,82)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
Il-C. Labor Force, Employment, and
Unemployment
(45,82)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
441. Total civilian labor force, labor force survey (M).-Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
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)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).—Source 1
(47,83)
288. Net interest (Q).-Source 1
116
t> U. S. GOVERNMENT PRINTING OFFICE : 1382
36O-993/1Q5
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)
446.
Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570.
447.
Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
448.
Number employed, part-time workers for economic
reasons, labor force survey (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)
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)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
452.
Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3
(51,89)
453.
Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
588.
Il-D. Government Activities
500.
Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
502.
Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
510.
State and local government surplus or deficit; 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)
606.
Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612.
General imports, total (M).-Source 2
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
517.
525.
543.
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)
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)
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)
Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
723.
Canada, index of industrial production (M).-Statistics
Canada (Ottawa)
(58,94)
725.
West Germany, index of industrial production (M).—
Deutsche Bundesbank (Frankfurt)
(58,94)
726.
France, index of industrial production (M). Institut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727.
Italy, index of industrial production (M).—Instituto
Centrale di Statistica (Rome)
(58,94)
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
736.
France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737.
Italy, index of consumer prices (M).—Instituto 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)
(59,95)
Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
(57,93)
620.
Merchandise imports,
(Q).-Source 1
622.
Balance on merchandise trade (Q).-Source 1 (57,93)
651.
Income on U.S.
1
(Q).-Source
(57,93)
742.
United Kingdom, index of stock prices
Financial Times (London)
652.
Income on foreign investments in the United States
(Q).-Source 1
(57,93)
743.
Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)
adjusted, excluding military
(57,93)
investments abroad
667.
Balance on goods and services (Q).-Source 1(57,93)
Output of defense and space equipment (M).— Source
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)
United Kingdom, index of industrial production ( M ) . Central Statistical Office (London)
(58,94)
618.
557.
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
722.
Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
Value of manufacturers' new orders, defense products
( M ) . - Source 2
(53,90)
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
(48,59,84,95)
Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
616.
548.
4
(M).-Source 3
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
United States, index of consumer prices, all items
721.
Il-E. U.S. International Transactions
602.
State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
320.
Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
512.
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
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)
747.
Italy, index of stock prices (M).—Instituto Centrale di
Statistica (Rome)
(59,96)
748.
Japan, index of
Exchange (Tokyo)
(59,96)
Il-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).—Standard & Poor's Corporation (13,28,59,69,96)
(M).-The
(59,96)
stock
prices
(M).-Tokyo
Stock
(59,96)
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